AM BEST AFFIRMS CREDIT RATINGS OF LONPAC INSURANCE BHD

SINGAPORE, Nov 30 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Lonpac Insurance Bhd (Lonpac) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.

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

Lonpac’s risk-adjusted capitalisation is at the strongest level at year-end 2022, as measured by Best’s Capital Adequacy Ratio (BCAR), and is expected to remain at this level over the near to medium term. Despite a high dividend payout ratio over the past five years (2018-2022), the company has demonstrated strong capital growth from retained earnings over this period. In addition, the company has a generally conservative investment portfolio comprising cash, bonds and debt-focused unit trust funds. However, Lonpac is viewed to have a moderate dependence on third-party reinsurance to enable the underwriting of large limit risks and to manage catastrophe exposure accumulation.

AM Best views the company’s operating performance as strong, as evidenced by its five-year average return-on-equity ratio of 28.3% and combined ratio of 67.5% (2018-2022). The company observed an uptick in claims activity in 2022 and the first 10 months of 2023 mainly due to easing of COVID-19-related movement restrictions in Malaysia. Underwriting margins for property and bond classes of business have benefited from low net loss experience and favourable reinsurance commission income over a number of years, which remain the key drivers of technical profitability. Investment returns continue to be a stable contributor to overall earnings. As of 31 October 2023, Lonpac’s operating performance remains favourable, driven by stable underwriting profit and investment performance. Whilst AM Best expects Lonpac to maintain its strong operating performance over the medium term, claims normalisation and reinsurance market hardening, as well as the ongoing phased liberalisation of motor and fire insurance pricing in Malaysia may constrain underwriting margins over the near to medium term.

AM Best views Lonpac’s business profile as neutral. The company is a mid-sized non-life insurer in Malaysia, with a market share of approximately 8%, based on 2022 gross direct premium. The company’s underwriting portfolio is diversified moderately by line of business, albeit with majority of business originating from Malaysia. Lonpac benefits from a long-standing relationship with Public Bank Berhad, which provides the company with preferential access to profitable property business through the banking channel.

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

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

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2023 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/20231129846694/en/

Contact

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

Michael Dunckley, CFA
Associate Director
+44 20 7397 0312
michael.dunckley@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

BEST'S MARKET SEGMENT REPORT: AM BEST MAINTAINS STABLE OUTLOOK ON CHINA'S NON-LIFE INSURANCE SEGMENT

HONG KONG, Nov 29 (Bernama-BUSINESS WIRE) -- AM Best is maintaining a stable outlook on China’s non-life insurance segment given the growth momentum in the motor and non-motor segments, as well as the domestic economic recovery following removal of pandemic-related restrictions, partially offset by a weaker 2024 economic outlook. The Best’s Market Segment Report, “Market Segment Outlook: China Non-Life Insurance,” also notes the industry’s solvency position remains robust, albeit with higher capital requirements under C-ROSS Phase II. The recent relaxation of C-ROSS solvency-related investment rules is expected to boost the non-life segment’s solvency position slightly. China’s non-life market posted a net profit of CNY 44.5 billion in the first nine months of 2023, down by CNY 7.4 billion from the same prior-year period. The drop in net profit was attributed to underwriting pressures and catastrophic events; the industry’s investment returns remain the main contributor to overall earnings. At the same time, total direct premiums written (DPW) rose by 7.3%, to CNY 1.2 trillion (USD 166.4 billion) in the first nine months of 2023. The motor segment has shown strong growth momentum, with premiums expanding by 5.8% in August and by 5.6% in September, compared with the same periods last year. Another significant trend is the exponential growth in electric vehicle sales, which has led to rising demand for motor insurance. “While insurers are looking to tap into the opportunities offered by the electric vehicle segment, it should be noted that repair and servicing costs are higher than that of gas-powered vehicles due to expensive parts and a shortage of qualified repair and maintenance technicians,” said Lucie Huang, senior financial analyst, AM Best. “Moreover, the lack of claims history, combined with differences among electric vehicle manufacturers, poses a challenge to accurate pricing and risk assessments.” According to the report, non-motor lines of business will likely be the main drivers of future premium growth. Smaller insurers have been looking to capture growth opportunities in the health insurance segment to meet the demand in supplementary medical protection not covered in the current social medical scheme. Additionally, agriculture insurance, which holds a DPW share of 10% for the first three quarters of 2023, has become increasingly important to the non-life industry as a risk mitigation tool against natural catastrophe events and price fluctuations. AM Best expects that non-motor lines will fuel development of China’s non-life market over the medium term. To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=338068. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2023 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/20231128732253/en/ Contact Lucie Huang Senior Financial Analyst +852 827 3414 lucie.huang@ambest.com Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 christopher.sharkey@ambest.com James Chan Director, Analytics +852 827 3418 james.chan@ambest.com Cynthia Ang Senior Industry Research Analyst +65 6303 5026 cynthia.ang@ambest.com Christie Lee Senior Director, Analytics +852 827 3413 christie.lee@ambest.com Source : AM Best

Chartered Accountants Australia And New Zealand Revitalises Member Experience With Boomi

 

_{Chartered Accountants Australia and New Zealand Rearchitects Member Experience With Boomi (Graphic: Business Wire)} 

KUALA LUMPUR, Nov 16 (Bernama) -- Boomi, the intelligent connectivity and automation leader, announced Chartered Accountants Australia and New Zealand (CA ANZ) is using its platform to revitalise member digital experiences, streamlining skills assessment and building personalisation into a new member portal.

According to a statement, recognising its members’ desire for quality digital experiences, CA ANZ sought to create an information technology (IT) environment capable of supporting its transition to a data-driven member experience hub.

Boomi Director of Australia and New Zealand, Nathan Gower said: “By bringing together its technology assets with structure and rigour, CA ANZ has created an environment that’s ready and willing to serve up tailored experiences to the digital member. They want CA ANZ to know them, and the IT team is layering data and APIs to deliver just that.”

Meanwhile, CA ANZ Chief Information Officer, Kylie Fisher said members want to see value and relevance from their membership, which means tailored services and support should be available in a matter of clicks.

“Boomi has allowed us to rebuild and establish a layered architecture where APIs are reusable to support faster development and more personalised engagement,” she said.

The company replaced point-to-point integrations with the Boomi platform, including Boomi application programming interfaces (APIs) and API Management capabilities.

CA ANZ connected 15 business-critical systems, such as its Salesforce customer relationship management, Sitecore content management system, NetSuite financial management, and Snowflake data lake, alongside several other event and learning systems, which now enable Fisher’s team to do faster code drops and fixes at previously untenable speed.

With a connected environment and use of Flow, Boomi’s workflow automation solution, CA ANZ rearchitected its member portal to optimise service pathways. The new portal improves the membership renewal process, enhances search experience, expands control over the preference centre, and delivers more tailored content.

CA ANZ is currently laying the foundations for its incoming eStore, in which Master Data Hub, Boomi’s golden record solution, will serve up quality product management data, forming a consolidated product management layer, enabling the company to offer personalised product and service content.

-- BERNAMA

HYTERA SUCCESSFULLY COMPLETES THE 8TH ETSI MCX PLUGTESTS

 

_{The Certificate of Participation in the 8th MCX Plugtests awarded to Hytera (Photo: Business Wire)}

 

SHENZHEN, China, Nov 15 (Bernama-BUSINESS WIRE) -- Hytera Communications (SZSE: 002583), a leading global provider of professional communications technologies and solutions, participated in the 8th MCX Plugtests organized by ETSI at the University of Malaga (UMA) in Spain from October 9th to 13th. Hytera brought a complete solution of MCX AS (application server), MCX Client, and 5G UE (user equipment) and participated in validating the interoperability of a variety of implementations in different scenarios based on 3GPP Mission Critical Services.
 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231114648110/en/ 

Following the ETSI guidelines for interoperability, the MCX Plugtests Test Plan was developed to aid operators and industry customers in deploying new mission critical products more efficiently. The capabilities of Mission Critical Push to Talk (MCPTT), Mission Critical Data (MCData), and Mission Critical Video (MCVideo) – collectively known as MCX services or MCS – were tested during this Plugtests. This year's Plugtests expanded to include testing MCS on 5G networks, in addition to previous tests on 4G networks.

During the Malaga Plugtests, Hytera validated the interoperability of the MCS solution with 14 other vendors. In the 5G network test scenario, Hytera participated with its 5G XSecure Rugged Device PNC560, making it the sole vendor bringing a complete solution of MCX AS, MCX Client, and 5G UE.

This year's Plugtests witnessed a substantial increase in the number of vendors and observers. The one-week event brought together approximately 40 vendors and nearly 200 registered participants, which included 20 representatives from European and American governments, operators and emergency bodies. Over the course of the week, individuals evaluated more than 360 different MCX (Mission-Critical) and FRMCS (Future Railway Mobile Communication System) test scenarios at the University of Malaga's facilities.

http://mrem.bernama.com/viewsm.php?idm=47529

AI Influence Prompts 'hallucinate' As Cambridge Dictionary Word Of The Year 2023

KUALA LUMPUR, Nov 15 (Bernama) -- The Cambridge Dictionary, the world’s most popular online dictionary for learners of English has revealed ‘hallucinate’ as the Word of the Year for 2023, as the term got a new additional definition relating to artificial intelligence (AI) producing false information.

AI hallucinations, also known as confabulations, sometimes appear nonsensical. But they can also seem entirely plausible, even while being factually inaccurate or ultimately illogical, and have already had real-world impacts.

The traditional definition of hallucinate is “to seem to see, hear, feel, or smell something that does not exist, usually because of a health condition or because you have taken a drug”.

The new, additional definition is “When an artificial intelligence (a computer system that has some of the qualities that the human brain has, such as the ability to produce language in a way that seems human) hallucinates, it produces false information”.

In a statement, Cambridge Dictionary’s Publishing Manager, Wendalyn Nichols said: “The fact that AIs can ‘hallucinate’ reminds us that humans still need to bring their critical thinking skills to the use of these tools.

“At their best, large language models can only be as reliable as their training data. Human expertise is arguably more important, and sought after, than ever, to create the authoritative and up-to-date information that LLMs can be trained on.”

The news follows a year-long surge in interest in generative AI tools like ChatGPT, Bard and Grok, with public attention shifting towards the limitations of AI and whether they can be overcome.

AI tools, especially those using large language models (LLMs), have proven capable of generating plausible prose, but often do so using false, misleading or made-up ‘facts’. They ‘hallucinate’ in a confident and sometimes believable manner.

Beyond hallucinate, several additions reflect rapid developments in AI and computing, such as prompt engineering; large language model; GenAI; train; and black box.

Several other words experienced spikes in public interest and searches on the Cambridge Dictionary website. They included implosion; ennui; grifter; and GOAT (abbreviation for Greatest Of All Time).

-- BERNAMA

MMA OFFSHORE AUTOMATES ONBOARDING WITH BOOMI

^{MMA Offshore Automates Onboarding With Boomi (Graphic: Business Wire)}


Boomi helps marine and subsea services company simplify employee management and logistics


PERTH, Australia & SYDNEY, Nov 16 (Bernama-BUSINESS WIRE) -- Boomi™, the intelligent connectivity and automation leader, today announced MMA Offshore (MMA) is using the Boomi platform to provide consistent employee master data management across its line of business applications.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231115801462/en/

 

Headquartered in Perth, MMA is a global marine and subsea service provider. With a fleet of 19 offshore vessels and over 1,100 employees, the organisation is on a growth drive, having transitioned from a pure vessel operator to an integrated marine services provider in 2019. This transformation has seen MMA grow into new markets such as offshore wind, government and defence, and coastal infrastructure.

To become an agile organisation in an evolving industry and to support its ongoing growth, MMA needed to strengthen its management of critical data, as part of efforts to streamline business processes and improve decision-making.

According to Jon Fowler, ICT General Manager at MMA, the company needed a digital framework capable of easily and reliably connecting core business systems in order to unlock and harness that data.

“We’re a fast-moving, dynamic organisation, which means quick access to consistent, accurate data is imperative,” said Fowler. “With Boomi, our employee data is captured once at the source, then automation does the grunt work to streamline administration, making core employee master data instantly available across our platforms to assist with rostering, travel logistics, time sheeting, and payroll processing.”

MMA selected the Boomi platform based on its ease of use and scalability, which aligns with MMA’s requirement to maintain data integrity. The company is using Boomi’s integration platform as a service (iPaaS) to connect its cloud and on-premises line of business applications, including its enterprise resource planning (ERP), scheduling, travel systems, and payroll.

“We recently needed to onboard several workers in a short timeframe. In the past, onboarding at this scale and speed would have taken a considerable amount of time with data manually entered across multiple systems. With Boomi, our connected systems now work for the business, not against it,” said Fowler.

“Another consideration for employee management involves ensuring employee certifications are applicable and current between our various platforms. Every project is unique, and with a more comprehensive view of employee data, we can make sure our personnel logistics teams have the right data accessible for immediate scheduling, allowing us to onboard skilled workers in a short timeframe.”

The organisation plans to mature its user experience with self-service capability. Using Boomi’s workflow automation solution, Flow, MMA is exploring the development of a consolidated, simple interface to further streamline data collection for aggregation across the respective applications.

The Boomi-connected environment also ensures data is available where employees expect it, and according to Fowler, this means the Information Services team is able to respond and deliver solutions quicker.

“We previously sunk substantial time into building connections or manually moving data around. Instead of weeks, our integration framework now allows us to complete work in a much shorter timeframe – this makes business expansion far more efficient with easy, plug-in data sets,” said Fowler.

“It takes considerable logistics to plan for and execute marine and subsea projects, including managing the dozens of skilled workers assigned to each job,” said Nathan Gower, Director of Australia and New Zealand at Boomi. “As MMA breaks into new divisions, automation and data connectivity will take the guesswork out of project orchestration, enhancing productivity – a benefit to the bottom line and client satisfaction.”

Additional Resources

• Hear from our global customers
• Browse solutions on Boomi Discover
• Explore the Boomiverse Community
• Follow Boomi on Twitter, LinkedIn, Facebook, and YouTube

About Boomi

Boomi aims to make the world a better place by connecting everyone to everything, anywhere. The pioneer of cloud-based integration platform as a service (iPaaS), and now a category-leading, global software as a service (SaaS) company, Boomi touts the largest customer base among integration platform vendors and a worldwide network of approximately 800 partners – including Accenture, Capgemini, Deloitte, SAP, and Snowflake. Global organizations turn to Boomi’s award-winning platform to discover, manage, and orchestrate data, while connecting applications, processes, and people for better, faster outcomes. For more information, visit boomi.com.

© 2023 Boomi, LP. Boomi, the ‘B’ logo, and Boomiverse are trademarks of Boomi, LP or its subsidiaries or affiliates. All rights reserved. Other names or marks may be the trademarks of their respective owners.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20231115801462/en/

Contact

Media:
Jasmine Ee
Head of Media and Analyst Relations, APJ
jasmine.ee@boomi.com

Source : Boomi

Terraformation Biodiversity-focused Forest Accelerator First Cohort Graduates To Phase 2

 

Terraformation’s biodiversity-focused forest accelerator gains momentum as the first cohort scales its operations and two more cohorts confirmed (Photo: Business Wire)  

KUALA LUMPUR, Nov 10 (Bernama) -- Terraformation, the global forestry company, announced the progression of its first cohort of the Seed to Carbon Forest Accelerator to Phase Two, enabling forestry teams to begin pilot projects and set up vital infrastructure, such as nurseries and seed banks.

Terraformation’s Accelerator is the world’s first biodiversity-focused, carbon-funded programme for forest creators globally, addressing the critical funding, tech, and skills gaps needed for biodiverse native restoration.

Its founder and chief executive officer, Yishan Wong said new forestry teams are needed immediately to fulfil the demand for biodiverse, high-quality carbon credits, creating a new generation of credits that exceed current standards of transparency.

“We are restoring trust in the market by conducting quality due diligence paired with on-the-ground forestry expertise to identify high-integrity projects that prioritise biodiversity, provide real benefits and establish climate equity for local communities,” he said in a statement.

Having completed the first phase of the Accelerator, which included feasibility studies to assess a project’s potential to grow into a full-scale carbon project as well as training in business operations, biodiversity, carbon markets, and forestry, the teams have now received additional support to move into Phase Two for a period of up to two years.

The three projects progressing to Phase Two of the Accelerator are Seawater Solutions; Fundación Grupo Argos; and Eco2Librium.

Additionally, the company is also launching two new cohorts into Phase One. Based in Southeast Asia, Cohort Two features six projects with a reforestation potential of nearly 23,000 hectares across mangroves, dryland, and peatland forests.

Meanwhile, Cohort Three is in preparation, with site visits by Terraformation’s forestry experts to meet its West and East Africa teams. An additional cohort featuring biodiverse native reforestation projects in Latin America is expected to be announced early next year for applications submitted by Nov 30.

The company is trialling a partnership with The Nature Conservancy Asia Pacific to provide capacity-building courses and access to specialised reforestation experts for forestry projects and local teams in Aotearoa New Zealand and Indonesia.

Terraformation has also formed a strategic partnership with the Forest Stewardship Council (FSC), the international nonprofit, multi-stakeholder organisation that promotes responsible management of the world's forests, to connect FSC’s network of forest managers and funders with new opportunities through its accelerator.

-- BERNAMA

YESWEHACK LAUNCHES CONTINUOUS THREAT EXPOSURE MANAGEMENT PRODUCT THAT UNIFIES OFFENSIVE SECURITY TESTING

SINGAPORE, Nov 10 (Bernama-BUSINESS WIRE) -- YesWeHack has unveiled a powerful Attack Surface Management (ASM) product that enables clients to orchestrate their offensive security and vulnerability remediation strategy through a risk-based approach.

The new product continuously maps an organisation’s internet-exposed assets, detects their possible exposure to known vulnerabilities, and automatically prioritises those vulnerabilities (based on severity, exploitability and asset criticality).

Unlike standalone platforms, YesWeHack’s ASM integrates vulnerabilities from automated scanning (by the ASM) and YesWeHack’s Bug Bounty, Pentest Management and Vulnerability Disclosure Policy (VDP) products – creating a one-stop-shop for all vulnerabilities.

Amid tight security budgets, the ASM also automates and harmonises workflows to reduce costs, workloads and time-to-fix.

The five operational phases of Gartner’s Continuous Threat Exposure Management (CTEM) model are implemented: scope, discover, prioritise, validate, mobilise.

This enables a unified, comprehensive and risk-based approach to security testing and remediation of the most critical vulnerabilities at scale.

The turnkey-deployable ASM also introduces a design revamp to YesWeHack’s overall platform.

A rapid expansion of attack surfaces, increasingly complex tech stacks and rapid development cycles are fuelling an inexorable rise in vulnerabilities, often present in unknown assets. However, Gartner forecasts that CTEM programs could drive a two-thirds reduction in breaches.

Aïmad Berady, YesWeHack’s VP Product, comments: “With the time-to-exploit for new vulnerabilities plummeting, clearing the ‘fog of war’ surrounding the organisation’s information system and maintaining an up-to-date big picture is crucial. After all, knowing your enemy is useless if you don’t know your digital territory.”

Guillaume Vassault-Houlière, YesWeHack’s CEO and co-founder, comments: “A 360-degree cockpit combining unified vulnerability management with external attack surface management enables clients to think like, and therefore thwart, an attacker – spotting and sealing off the weakest, most hackable vectors.” 

http://mrem.bernama.com/viewsm.php?idm=47478

ALSP Orchid To Redeem Public Shares, Won't Consummate Business Combination

KUALA LUMPUR, Nov 9 (Bernama) -- ALSP Orchid Acquisition Corporation I (ALSP Orchid) announced it will redeem all of its outstanding Class A ordinary shares (the Public Shares), effective as of the close of business on Nov 14 or as soon as possible thereafter.

The company will not consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association (the Articles).

According to a statement, the per-share redemption price for the Public Shares will be approximately US$10.86 (the Redemption Amount). (US$1=RM4.69)

The Redemption Amount will be payable to the holders of the Public Shares upon delivery of their shares or units to ALSP Orchid’s transfer agent, Continental Stock Transfer & Trust Company.

There will be no redemption rights or liquidating distributions with respect to the company’s warrants, which will expire worthless.

After Nov 14 or as soon as possible thereafter, the company shall cease all operations except for those required to wind up the company’s business.

ALSP Orchid will file a Form 25 with the United States Securities and Exchange Commission (the Commission) in order to delist its securities and thereafter expects to file a Form 15 with the Commission to terminate the registration of the company’s securities under the Securities Exchange Act of 1934, as amended.

-- BERNAMA

MATMERIZE SECURES DOD AWARD TO DEVELOP LOW-FLAMMABILITY POLYMER COMPOSITE MATERIALS USING ADVANCED AI METHODS

ATLANTA, Nov 8 (Bernama-GLOBE NEWSWIRE) -- Matmerize, Inc., an industry leader in Polymer & Formulations Informatics proudly announces its selection by the US Department of Defense (DOD) for a Small Business Innovation Research (SBIR) contract aimed at advancing AI methodologies for accelerating the design of novel low-flammability polymer composite materials. Matmerize is excited about the transformative potential of this project as it will not only enhance fire safety for Navy ships and submarines, but will also find applications in a wide range of industries, including construction, aerospace, automotive and consumer products. This award comes at the heels of another SBIR recently awarded to Matmerize by the National Science Foundation (NSF) to develop physics-informed and physics-enforced machine learning architectures to advance materials development.

The flammability of polymer composites is quantified by a set of quantitative parameters, typically measured using highly standardized instruments/tests defined by the American Society for Testing and Materials (ASTM) and other agencies. Desirable polymeric materials that meet the specific values of ASTM and non-ASTM standardized tests require an optimal combination of base polymers, functional additives, flame retardants, and processing conditions. Matmerize will collaborate with DOD to develop a Polymer Informatics capability using suitable curated data and advanced AI/ML techniques, aimed at the accelerated design of low-flammability polymer matrix composites that meet other critical mechanical and thermal performance targets needed by the Navy. 
 
Key highlights of the contract include: 

1) creation of a composite materials database with flammability and other relevant properties such as maximum heat release rate, time to ignition, and smoke density,
2) development of AI models trained on the database to predict the relevant properties for new composite formulations, and
3) recommend a pool of promising polymer composites, i.e., the combinations of base polymers, functional additives, flame retardants, and processing conditions, for experimentally synthesis and testing.

A Media Snippet accompanying this announcement is available by clicking on this link: 

Huan Tran, Director of Research Innovation for Matmerize stated, “This collaboration signifies a major achievement in the pursuit of safer, lower-flammability polymer composites. We take great pride in spearheading the development of cutting-edge AI-driven solutions for low-flammability composite materials that not only meet rigorous ASTM testing standards but also address the vital safety requirements mandated for our Navy ships.“ 

http://mrem.bernama.com/viewsm.php?idm=47452

DR HOLGER ZIMMERMANN JOINS LYSANDO ADVISORY BOARD

KUALA LUMPUR, Nov 8 (Bernama) -- Lysando, an innovator in the fight against antibiotic-resistant bacteria, has appointed Dr Holger Zimmermann to its Advisory Board.

Dr Zimmermann's distinguished career in the pharmaceutical sector and healthcare industry brings a wealth of experience, positioning him as a key asset in Lysando's mission to eliminate the fear of harmful bacteria worldwide.

Its Chairman of the Board of Directors, Count Markus Matuschka de Greiffenclau said Dr Zimmermann's profound experience in the pharmaceutical and healthcare sectors, coupled with a successful track record in product development, makes him a valuable addition to the team.

“His unique insights will play a pivotal role in guiding Lysando towards our ultimate goal of bringing life-enhancing solutions to market,” he said in a statement.

Meanwhile, Dr Zimmermann said: “I am excited to be able to support Lysando's mission to develop innovative products against disease-causing bacteria”.

Currently serving as the Chief Research and Development Officer at AiCuris AG, he has been instrumental in bringing innovative healthcare products to market and his extensive background in human pharmaceutical pre-clinical and clinical research underscores the transformative potential he brings to Lysando.

As a distinguished member of the Advisory Board, Dr Zimmermann will contribute invaluable knowledge and strategic guidance, particularly in navigating the challenges of the pharmaceutical industry.

Lysando has been a driving force in innovation against antibiotic-resistant bacteria, pioneering the revolutionary Artilysin technology that safeguards individuals from dangerous infections.

The company's dedication to curbing the dissemination of Antimicrobial Resistance aligns seamlessly with Dr. Zimmermann's expertise and vision.

-- BERNAMA

Henley & Partners, Insignia Team Up To Create Distinctive Membership Offering

KUALA LUMPUR, Nov 6 (Bernama) -- Henley & Partners, global leader in residence and citizenship by investment, has partnered with the leading ultra-luxury lifestyle management and card services group, Insignia, to create a distinctive and exclusive membership offering.

Henley Global Citizens is a bespoke ‘by invitation only’ service designed to meet the specific needs of wealthy transnational families, entrepreneurs, and investors who do business, invest, and live internationally and who identify themselves as citizens of the world.

Henley & Partners Group Chairman, Dr Christian H. Kaelin said bringing together the high-profile clients of both businesses and combining their expertise to create a unique and exceptional international advisory and service offering is a logical extension for ‘the firm of global citizens’.

“The Henley Global Citizens membership acknowledges and supports this identity and lifestyle in a very practical, everyday way that can add tremendous value for its members,” he said in a statement.

Meanwhile, Insignia Group President, Nada T. Rouviere said: “Our partnership with Henley & Partners represents a new era in luxury lifestyle management. Together with Henley & Partners we are redefining the meaning of global citizenship, offering an exclusive gateway to a world of limitless possibilities and connections.”

Besides priority access, personal introductions, and complimentary consultations with trusted international banks, leading private client lawyers and other top industry professionals in all key jurisdictions worldwide, the Henley Global Citizens offering includes a membership card, which is also a Visa payment card for large, unlimited payments and cash withdrawals, and to make international wire transfers in major currencies.

More importantly, it provides access to a dynamic global network of wealthy and influential individuals and families, and an annual calendar of high-level closed-door events, including private dinners and other major business, geopolitical, sporting, and cultural events around the world.

Members and families can also benefit from complimentary consultation on global education planning and introductions to the world’s top schools and universities, as well as strategic health advice, access to preventive medicine and longevity programmes, and the scheduling of medical checkups at the most advanced healthcare locations including Switzerland, Germany, Singapore, the United Arab Emirates (UAE), the United Kingdom, and the United States of America.

Henley Global Citizens will be launched at a bespoke event on Nov 10 following the 17th annual Global Citizenship Conference which takes place from Nov 8 to 10 at the Shangri-La Hotel DIFC in Dubai, UAE.

The international conference hosted by Henley & Partners, where this year over 400 delegates from over 35 countries are expected to attend, has become the world’s largest and most significant gathering on global private wealth and investment migration.

-- BERNAMA

POLYPLASTICS SEES STRONG POTENTIAL FOR POM AND PP IN THERMAL MANAGEMENT SYSTEMS FOR EVS

AsiaNet 100466

TOKYO, Nov. 7, 2023 /Kyodo JBN-AsiaNet/ -- 

The Polyplastics Group, a leading global supplier of engineering thermoplastics, has introduced an approach of using its less heat-resistant plastics products for EV cooling components. Polyplastics sees strong potential for less heat-resistant plastics such as polyoxymethylene (POM) and polypropylene (PP) for production of EV cooling components. 

To learn more about the Polyplastics approach for EV cooling components, please visit:
https://www.polyplastics-global.com/en/approach/24.html 

Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M100475/202310271868/_prw_PI1fl_4KdW4E2e.png

 
As the automotive industry moves from traditional combustion engine vehicles to battery electric vehicles (BEVs), OEMs and parts manufacturers are reimagining the types of materials that can meet the thermal management needs of EVs. Polyplastics believes that less heat-resistant plastics like POM and PP have a significant potential for manufacturing EV cooling components. 

The coolant in combustion engines is typically maintained at a temperature of 70-100 C but can climb to 120 C or higher if the engine overheats. Therefore, metals or highly heat-resistant plastics like polyphenylene sulfide (PPS) are used in cooling components and lines. In comparison, EVs require a long-life coolant (LLC) temperature of 100 C or lower. This allows for the use of less heat-resistant materials for BEV-specific components. 

When the temperature of a LLC is 100 C or lower, general-purpose engineering plastics like POM or PP can be used instead of metals or high-performance engineering plastics. In the case of PP, Polyplastics sees potential for PP-LGF (long glass fiber) instead of short glass fiber to increase strength, dimensional accuracy, and overall performance. It also offers DURACON (R) bG-POM made with biomass as an eco-friendly option. 

Replacing highly heat-resistant plastics such as PPS with POM and PP not only reduces material costs but also helps with efforts to reduce CO2 by reducing the carbon footprint of materials and energy consumption during molding.  

*DURACON (R) is a trademark of Polyplastics Co., Ltd. in Japan and other countries.

About Polyplastics:
https://kyodonewsprwire.jp/attach/202310271868-O1-TLyAy94V.pdf 

Source: Polyplastics Co., Ltd.

AM BEST AFFIRMS CREDIT RATINGS OF MARBLE REINSURANCE CORPORATION

HONG KONG, Nov 3 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Marble Reinsurance Corporation (Marble Re) (Micronesia). The outlook of these Credit Ratings (ratings) is stable.

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

The balance sheet strength is well-supported by Marble Re’s risk-adjusted capitalisation, which is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s capital base, albeit small, is viewed to be sufficient supported by low net underwriting leverage and minimal investment risk from a highly liquid and conservative investment portfolio. Although the company has relatively high dependence on reinsurance, the risk is mitigated by its high quality and well-diversified reinsurance panel.

Marble Re’s operating performance has been consistently strong and stable with a five-year average combined ratio of 59% (2018-2022). For the fiscal year ended 31 March 2023, the company recorded notable growth in premium income and net profit due to the strong performance of Marubeni Corporation’s trading business, which was attributable to higher commodity prices and foreign exchange benefits from Japanese Yen depreciation. Marble Re’s combined ratio is expected to remain favourable and below 60%. Notwithstanding the moderate volatility in its major business line, marine cargo insurance, primarily due to fluctuations in the commodity price, AM Best expects that Marble Re’s underwriting margin will remain favourable over the medium term supported by strict underwriting discipline and a conservative reinsurance programme.

As a wholly owned subsidiary and a single-parent captive of Marubeni Corporation, which is one of Japan’s largest general trading companies, Marble Re provides reinsurance and insurance protection against group-related risks across different regions. Marble Re is well-integrated within the parent group with respect to risk management, corporate governance and internal control systems.

Negative rating actions could occur if there are substantial losses caused by a material shift in Marble Re’s risk appetite or if there is significant deterioration in Marubeni Corporation’s credit profile, including its operating profitability, financial leverage and interest coverage levels. Positive rating actions could occur if the company demonstrates sustained and notable improvement in its balance sheet strength fundamentals or material growth in its capital base.

AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.

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

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

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. 

http://mrem.bernama.com/viewsm.php?idm=47427

RESOLIAN BUYS CHINA-BASED BIOANALYTICAL CRO DENALI MEDPHARMA

KUALA LUMPUR, Nov 2 (Bernama) -- Resolian, a global bioanalytical contract research organisation (CRO) specialising in drug metabolism and pharmacokinetics for small and large molecules has acquired China-based bioanalytical CRO, Denali Medpharma.

Resolian Chief Executive Officer (CEO), Patrick Bennett in a statement said the strategic addition of Denali will significantly enhanced the company’s capabilities and strengthened its position in the global market.

“Denali’s founders and core scientists are internationally recognised across pharmaceutical research and development analysis and we are particularly excited to add Denali’s oligo, mRNA, and liposomal expertise to Resolian’s portfolio of services.

“We look forward to leveraging our growing company’s strengths to continue driving innovation and creating lasting value for our clients and stakeholders,” added Bennett.

Meanwhile, Denali CEO, Min Meng said the company was founded by a group of United States (US)-trained bioanalytical experts in a state-of-the-art lab facility in China to provide exceptional service for domestic and international clients.

“The Denali team is thrilled to join Resolian. We look forward to continuing this track record and offering even greater capabilities and trial flexibility as part of Resolian.”

Currently operates bioanalysis laboratory in the US, the United Kingdom, Australia and China, Resolian can initiate a project on four continents and easily transfer validated methods across labs, allowing therapeutic trials to extend to virtually any destination without changing bioanalytical CROs.

-- BERNAMA

MALAYSIA HEALTHCARE PROMOTES REGULAR SCREENINGS FOR BREAST CANCER PREVENTION

Enhancing accessibility to cutting-edge screening procedures for breast cancer early detection 


KUALA LUMPUR, Malaysia, Nov 1 (Bernama-GLOBE NEWSWIRE) -- Malaysia Healthcare encourages global citizens to practice regular examination and screenings as a crucial step in preventing breast cancer. With healthcare facilities that are equipped with innovative screening procedures, Malaysia Healthcare is committed to making breast cancer early detection accessible for global citizens.

In conjunction with the breast cancer awareness month, Malaysia Healthcare shed light on the significance of early diagnosis as well as the cutting-edge screening procedures provided by several of its healthcare facilities.

“Individuals should be cautious about any lump in the breast or underarm (armpit), thickening or swelling on any part of the breast, skin irritation or dimpling, redness or flakiness around the nipple area or the breast, nipple inversion, pain in the nipple area, unusual nipple discharge that may include blood. Changes in breast size or shape and unexplained breast pain should also be regarded warning signs,” said Dr. Nik Munirah Nik Mahdi, Consultant Radiologist at KPJ Perdana Specialist Hospital.

“Doing regular breast self-examination is crucial to help you be aware of how your breasts normally look and feel, as well as detect symptoms such as lumps, pain, or abnormal changes in size. In addition to this, a clinical breast examination and screening every year should be done even if you do not detect any abnormalities, as breast cancer often does not present any symptoms at its earliest, which is the most treatable stage,” said Dr. Normayah Kitan, Consultant Breast and Endocrine Surgeon, Sunway Medical Centre in Sunway City.

“We strongly advocate regular self-examination and frequent breast screening especially for women aged 40 and above to detect breast cancer at an early stage. It is also advisable for women to seek medical help if any breast lumps are found. The importance of early detection cannot be overstated in the fight against breast cancer,” said Dr. Melissa Tan Ley Hui, Consultant Oncoplastic Breast Surgeon at Prince Court Medical Centre, Kuala Lumpur.

Since its first cancer treatment centre opened its doors in 1981, Malaysia has achieved international recognitions for its quality of care. Recently, the country was proclaimed second in the care and delivery of cancer treatment in the Asia Pacific and the third-most prepared country overall by the Economist Intelligence Unit.

“When discussing cancer, we focus on survival and recurrence rates rather than recovery rates. Studies have found that patients with breast cancer have more than 85% 5-year survival rate when detected early compared to a 19% 5-year survival rate when detected at Stage 4. Research have also shown that patients have a 10% chance of their breast cancer recurring after undergoing a breast-conserving surgery or mastectomy¹. At SJMC, we advocate for early detection and are proud of our remarkable 100% 5-year survival rate for patients with Stage 1 breast cancer. This is one of the highest in the region and is evident on the quality of care we provide. With the advancement of technology, 3D mammograms enhance the chances of detecting breast cancer at its earliest, where it is most treatable, potentially saving lives and improving outcomes for women everywhere. By providing a three-dimensional view of breast tissue, this screening enables earlier detection of abnormalities, reducing false positives and unnecessary follow-up tests,” Dr. Teh Mei Sze, Consultant Breast Surgeon (Oncoplastic), Subang Jaya Medical Centre (SJMC).

“Not all breast lumps are cancerous, therefore don’t be alarmed. However, getting the lump checked by your doctor as soon as possible is important. Breast ultrasounds and mammograms will help doctors decide on the biopsy test for suspicious-looking lumps. This is to establish the diagnosis so that treatment can be initiated. Delaying treatment is associated with poor outcome,” said Dr Normayah Kitan.

According to Dr. Nik Munirah Nik Mahdi, Consultant Radiologist at KPJ Perdana Specialist Hospital, a mammogram can detect a breast lump one year before it becomes palpable to the patient. The main benefit of mammography screening lies in its potential to reduce breast cancer-related mortality. The degree of reduction varies, from about 15% to 25% in randomised trials to more recent estimates of 13% to 17% in meta-analyses of observational studies. A 2020 study published in the National Center for Biotechnology Information highlighted that regular breast cancer screening appears to be associated with a significant decrease in the number of severe and fatal cases of breast cancer. This reduction is not solely attributed to improvements in treatment methods but is, to some extent, a result of the screening process itself.

Meanwhile, Dr. Melissa Tan Ley Hui, a Consultant Oncoplastic Breast Surgeon emphasised the significance of 3D mammogram in detecting cancer. “Our cutting-edge 3D Mammogram enables us to generate detailed images, allowing for the detection of small cancers concealed within dense breast tissue. This advanced approach significantly enhances accuracy when compared to the conventional 2D Mammograms, effectively reducing the occurrence of false-positive results.”

“At UM Specialist Centre (UMSC), our integration of advanced technologies such as 3D mammography (breast tomosynthesis) and MRI breast imaging, combined with the expertise of experienced breast radiologists, is revolutionising breast health assessment. Breast tomosynthesis has been proven to have a diagnostic sensitivity of 93% and a specificity of 70%. In symptomatic women, it has demonstrated superiority compared to conventional mammography (2D). Our commitment to faster diagnosis and intervention ensures timely care, enhancing treatment success rates. Furthermore, our hospital offers specialised screening for high-risk individuals, including those with genetic mutations like the BRCA1 and BRCA2 mutations, along with comprehensive risk-reducing surgical options. At UMSC, we're not just advancing healthcare; we're saving lives through innovation and compassion,” said Dr. Suniza Binti Jamaris, Associate Professor and Consultant Breast Surgeon, UMSC.

With a vast range of oncology services that include ground-breaking imaging and cancer detection technologies on offer, Malaysia Healthcare is moving forward steadily as the Cancer Care Centre of Excellence. This is further reinforced by the country's excellent healthcare system, which makes it easier for healthcare travellers to obtain comprehensive cancer care promptly in a safe and trusted destination.

For more information on Malaysia Healthcare and its services, please visit https://malaysiahealthcare.org/ or visit our social feeds at: www.facebook.com/MHTCMalaysia  or at LinkedIn (Malaysia Healthcare Travel Council). 


For media enquiries: 

Tutie Ismail
Vice President
Communications
Malaysia Healthcare Travel Council
tutie@mhtc.org.my

Chandrika Bhaskaran
Senior Manager
Public Relations & Content Communications
Malaysia Healthcare Travel Council
chandrika.b@mhtc.org.my


ABOUT THE MALAYSIA HEALTHCARE TRAVEL COUNCIL
The Malaysia Healthcare Travel Council (MHTC) is a government agency under the Ministry of Health Malaysia that has been entrusted with the responsibility of curating the country’s healthcare travel scene, making it a key export service industry. Founded in 2009, MHTC works to streamline industry players and service providers in facilitating and growing Malaysia’s healthcare travel industry under the brand “Malaysia Healthcare” with the intended goal of making Malaysia the leading global healthcare destination. MHTC works closely with over 80 private healthcare facilities in Malaysia, who are registered members of MHTC.

¹ https://pubmed.ncbi.nlm.nih.gov/21545192/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ddf1ecb1-fb14-49bb-9dac-0ff86892a299


SOURCE : Malaysia Healthcare Travel Council