AM Best Revises Issuer Credit Rating Outlook to Negative for Korea P&I Club

HONG KONG, May 13 (Bernama-BUSINESS WIRE) -- AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Korea P&I Club (KP&I or the Club) (South Korea). The outlook of the FSR is stable.

The Credit Ratings (ratings) reflect KP&I’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the wide range of support that the Club receives from the South Korean government.

The Long-Term ICR outlook revised to negative from stable reflects increased pressure on the Club’s operating performance, following its sizeable net loss reported in 2024, which notably deviated from AM Best’s expectations. KP&I experienced two exceptionally large claim losses last year, which led to a record annual KRW 7.3 billion net loss and a combined ratio of 204% in 2024. This elevated concern regarding underwriting volatility and high susceptibility of its bottom line to the large claims under the current structure of a small premium base, high net retention level, and a loss-sensitive commission scheme. The Club’s five-year average combined ratio (2020-2024) of 139.5%, as calculated by AM Best, generally lags its global P&I peers with elevated volatility.

However, AM Best notes that following the recent underwriting restructuring with an improved risk portfolio, the Club’s overall risk exposure to potential high-severity losses has been materially reduced and its overall claims experience, excluding the two large claims, has shown a favourable trend since 2023. Nonetheless, AM Best expects that it will take some time for these mitigation measures to demonstrate sustained effects on the Club’s underwriting results.

KP&I’s risk-adjusted capitalisation is assessed at the strongest level, as measured by Best’s Capital Adequacy ratio (BCAR), and is expected to remain at that level over the intermediate term. Despite a moderate drop in available capital following a significant net loss in 2024, the Club’s balance sheet strength is supported by its low underwriting leverage and a highly conservative investment portfolio. Offsetting balance sheet strength factors include the Club’s small capital base, which can be susceptible to potential underwriting volatility from large losses and limited financial flexibility.

KP&I has a relatively modest presence in the global P&I market in comparison with the members of the International Group of P&I Clubs, in terms of geographic and product concentration. Nonetheless, the Club leverages its local expertise and strong network with South Korean shipping companies to maintain a stable presence in the domestic market.

Underpinned by its strategic role to support the long-term development of maritime infrastructure in South Korea, the Club receives a wide range of government support across various areas, including subsidies, corporate tax exemptions, a no dividend payout policy to its members, as well as domestic/overseas marketing and diplomatic efforts.

Negative rating actions may occur if the operating results of KP&I do not demonstrate sustained improvement, despite various underwriting measures and becomes no longer suitable for the adequate assessment category. Negative rating actions also may arise if support from the South Korean government is reduced to an extent that it no longer supports the current level of enhancement.

Positive rating actions could occur if the Club’s balance sheet strength fundamentals demonstrate material and sustained improvement.

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 © 2025 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/20250509969977/en/

Contact

Minji Cha
Financial Analyst
+852 2827 3424
minji.cha@ambest.com

Chanyoung Lee
Director, Analytics
+852 2827 3404
chanyoung.lee@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

Trackinsight Releases 2025 Global ETF Survey: ETF Industry on Overdrive: Shifting Gears, Breaking New Barriers

 

Trackinsight, in partnership with J.P. Morgan Asset Management and S&P Dow Jones Indices, is proud to announce the launch of its sixth annual global ETF survey report: ETF Industry on Overdrive: Shifting Gears, Breaking New Barriers.


Hong Kong, May 13 (Bernama-GLOBE NEWSWIRE) -- Trackinsight, a global leader in ETF research and analytics, today announced the release of its Global ETF Survey 2025 Report, ETF Industry on Overdrive: Shifting Gears, Breaking New Barriers, in partnership with J.P. Morgan Asset Management and S&P Dow Jones Indices.

The global ETF engine is accelerating—and this year’s report captures every twist, turn, and acceleration along the way.

Drawing on insights from over 600 professional investors managing more than $1.1 trillion in ETF assets globally, and powered by Trackinsight’s extensive database of over 12,000 ETPs, the report delivers a comprehensive and forward-looking analysis of the ETF landscape.

What’s inside?

• Regional analysis covering major developments in Europe, Asia, and North America.
• Key trends across active management, fixed income, thematic investing, ESG strategies, cryptocurrencies, and the accelerating rise of income- and options-based ETFs.
• Over 80 bold predictions for ETF market for 2025 and beyond from influential industry leaders.

“ETFs didn’t just make investing easier—they sparked a global revolution. Today, they are powering a new era of clarity, innovation, and opportunity for investors everywhere. ETF Industry on Overdrive captures this extraordinary acceleration—and offers a glimpse into the future of our industry,” said Philippe Malaise, CEO of Trackinsight.

Key Survey Respondents’ Insights:

• ETF Adoption: Respondents primarily turn to ETFs for diversification, cost efficiency, and ease of trading. When selecting products, they prioritize performance, fees, liquidity, and the reputation of the provider, while ESG considerations tend to be secondary.
• Active Management: Use of active ETFs is rising, driven by lower fees compared to mutual funds, greater transparency, and the potential for outperformance, particularly in equities and fixed income. While concerns about track records and consistent performance remain, nearly 70% of respondents plan to increase their allocations to active ETFs over the next six months.
• Fixed Income: Corporate and government bond ETFs are the top choices, with respondents showing a balanced preference between active and passive strategies. 80% of respondents also plan to boost their exposure to actively managed fixed income ETFs in the coming months.
• Thematic: Respondents use thematic ETFs mainly for diversification and to make long-term strategic investments, particularly in disruptive technology and digital infrastructure. Liquidity, cost, and risk-return profiles are the key selection factors, and more than half of respondents intend to increase their allocations to thematic ETFs.
• ESG: Investments in ESG ETFs are largely driven by personal convictions and environmental priorities. However, greenwashing and transparency concerns remain major challenges. There is a strong preference for active ESG strategies, with more than half of respondents planning to increase their ESG ETF allocations — especially among European investors.
• Cryptocurrency: Crypto ETFs generally represent a small portion of portfolios, used mainly for diversification and long-term value appreciation. Respondents cite ease of access, regulatory protection, and security as key reasons for favoring ETFs over direct ownership, and nearly 60% plan to increase their allocations.
• Income and Options-Based Strategies: Dividend and fixed income ETFs continue to be primary tools for generating income, with growing interest in options-based strategies like covered calls and buffered products. Around 60% of respondents expect to increase investments in options ETFs alongside broader income-focused allocations.

“2025 is the year of active ETFs,” said Travis Spence, Global Head of ETFs at J.P. Morgan Asset Management. “In an environment defined by persistent market uncertainty, our newest Trackinsight Survey shows a decisive shift toward active strategies. Investors are seeking greater precision, adaptability, and risk-aware performance—and active ETFs are meeting that demand in core equities and fixed income. Over 90% of investors surveyed are planning to increase or maintain allocations to active ETFs.

“The role of financial indices within the ETF industry continues to evolve and are increasingly used as a powerful tool of innovation for institutional investors.” said Robert Ross, Chief Commercial Officer at S&P Dow Jones Indices.

In addition to the full study, Trackinsight have released a condensed digest summarizing key insights from the 2025 Global ETF Survey—also available at trackinsight.com.

About Trackinsight

Trackinsight, a subsidiary of Kepler Cheuvreux, is a global platform for professional ETF investors, delivering top-tier data, tools, research, and expertise for advanced fund selection and portfolio optimization.

Media Inquiries

Trackinsight
Please contact Rony Abboud, at rony.abboud@trackinsight.com

J.P. Morgan Asset Management  
For media inquiries in APAC, please contact Kathleen Wang at kathleen.w.wang@jpmorgan.com. 

SOURCE : TRACKINSIGHT

Lendlease Global Commercial REIT’s Singapore Portfolio Achieves Positive Retail Rental Reversion and Office Rental Uplift in 3Q FY2025

Key Highlights

• Retail portfolio achieved a positive rental reversion of 10.4%¹ with tenant retention rate remained healthy at 87.9%² by net lettable area (“NLA”).
• Jem office achieved a positive rental uplift of approximately 13%³.
• Visitation registered a decline of 0.2%⁴ and tenant sales declined 5.1%⁴ (both year-to-date), impacted by a softer retail landscape, outbound tourism and weakness in specific trade sectors like shoes & bags, fashion & accessories, and sporting goods & apparel.
• Refinanced S$200 million perpetual securities due in April 2025 with new issuance at a lower coupon rate and loans at lower costs of funding.
• Signed Shaw Theatres as a new tenant at Jem, replacing Cathay Cineplex.
• Completed asset enhancement works at the ground floor lobby of Building 3 in Milan, transforming it into a refreshed and welcoming space for tenants.
• Commenced refurbishment works to upgrade restrooms facilities at Jem to elevate the overall amenities and shoppers’ comfort.
• Construction at the multifunctional event space is progressing well and is on track to complete by 2H 2026.

SINGAPORE, May 8 (Bernama-GLOBE NEWSWIRE) -- Lendlease Global Commercial Trust Management Pte. Ltd. (the “Manager”), the manager of Lendlease Global Commercial REIT (“LREIT”), announces its third quarter business update for FY2025.

Operational Performance

LREIT’s portfolio committed occupancy remained stable at 92.1% as at 31 March 2025. Lease expiry profile remained well-spread with only 1.2% by NLA and 2.4% by gross rental income (“GRI”) due for renewal in FY2025. LREIT continued to maintain a long portfolio weighted average lease expiry (“WALE”) of approximately 7.3 years (by NLA) and 4.9 years (by GRI) respectively.

LREIT was awarded the tender to redevelop the 48,200 square feet⁵ car park at Grange Road. The site, to be redeveloped into a multifunctional event space, will maximise its full potential and create synergy with the “Discovery Walk”, which is linked to 313@somerset. Construction of the space is progressing well with piling works scheduled to be completed by end-2025.

Positive retail rental reversion and active asset management

LREIT’s retail portfolio has achieved 99.5% occupancy with a positive rental reversion of 10.4%¹ as at 31 March 2025. Tenant retention rate by NLA remained healthy at 87.9%².

Visitation registered a decline of 0.2%⁴ and tenant sales declined 5.1%⁴ (both year-to-date), impacted by a softer retail landscape, outbound tourism and weakness in specific trade sectors like shoes & bags, fashion & accessories, and sporting goods & apparel.

During the quarter, the Manager signed a lease agreement with Shaw Theatres as a new tenant, taking over the space previously occupied by Cathay Cineplex. It is currently in talks with Cathay Cineplex to recover the outstanding amount owed and will provide an update at an appropriate juncture. Additional new tenants brought onboard include lululemon, a Canadian athletic apparel brand; Chagee, a modern tea brand offering handcrafted beverages; and 2^nd Street, new-to-market Japanese thrift store chain specialising in pre-loved luxury and streetwear.

As part of the Manager’s active asset enhancement strategy, the team has commenced refurbishment works to upgrade restrooms facilities at Jem. The upgraded facilities, scheduled for phased completion by 1Q 2026, will elevate the overall amenities and shoppers’ comfort.  

Positive rental uplift achieved for office portfolio

As at 31 March 2025, office portfolio occupancy stood at 86.6%. By portfolio GRI, the tenants account for approximately 22% with a long WALE of 11.4 years by NLA and 14.1 years by GRI.

Rental review exercise for Jem office was completed in February with a positive uplift of approximately 13%³ over the prevailing base rent for five years effective from 3 December 2024. Jem office is fully leased to the Singapore’s Ministry of National Development (“MND”) until 2044.

As of 31 March 2025, Building 3 in Milan had an occupancy rate of approximately 31%. The team had recently completed asset enhancement works in the ground floor lobby, transforming the space into a refreshed and welcoming environment for tenants.

Capital Management

During the quarter, LREIT issued S$120 million perpetual securities at 4.75% per annum to refinance the S$200 million 5.25% perpetual securities due in April 2025, with the remaining S$80 million to be refinanced with loans. Net proceeds from the S$120 million issuance were utilised, ahead of the perpetual securities refinancing, to reduce debt borrowings and lower gearing to 38.0%⁶. Post 31 March 2025, new debt facilities have been drawn accordingly for the refinancing of the maturing loans and perpetual securities⁶ in April 2025.

As at 31 March 2025, gross borrowings were S$1,451.7 million with a weighted average debt maturity of 1.8 years⁷. Sustainability-linked financing continues to account for approximately 85% of LREIT’s total committed debt facilities. As at the date of the announcement, LREIT’s entire debt portfolio remains unsecured, with undrawn debt facilities of S$135.9 million available to support its working capital needs.

Approximately 76% of the borrowings are hedged to fixed rates with a lower weighted average cost of debt at 3.54% per annum⁸ on the back of lower interest rates. As at the period end, LREIT has an interest coverage ratio (“ICR”)⁹ of 1.5 times¹⁰ in accordance with the Property Funds Appendix of the Code on Collective Investment Schemes (“PFA”).

Mr. Guy Cawthra, Chief Executive Officer of the Manager, said, “The Singapore portfolio, comprising approximately 90% of the total portfolio by valuation, has maintained strong rental growth. In addition, we have concluded the rent review for Jem office and achieved a favourable outcome. Managing our capital position is a priority. We have refinanced S$200 million of 5.25% perpetual securities by way of a new issuance at a reduced coupon rate of 4.75% and new loans at more favourable funding costs. Looking ahead, despite uncertain capital markets, we shall pursue options for asset recycling, with the objective of reducing our gearing. We will also assess our strategy and formulate a strategic growth plan for communication to the investment community.”

About Lendlease Global Commercial REIT

Listed on 2 October 2019, Lendlease Global Commercial REIT (“LREIT”) is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally, which are used primarily for retail and/or office purposes.

Its portfolio comprises leasehold properties in Singapore namely Jem (an office and retail property) and 313@somerset (a prime retail property) as well as freehold interest in Sky Complex (three Grade A commercial buildings) in Milan. These five properties have a total net lettable area of approximately 2.1 million square feet, with an appraised value of S$3.68 billion as at 30 June 2024. Other investments include a stake in Parkway Parade (an office and retail property) and development of a multifunctional event space on a site adjacent to 313@somerset.

LREIT is managed by Lendlease Global Commercial Trust Management Pte. Ltd., an indirect wholly-owned subsidiary of Lendlease Corporation Limited.

About the Sponsor - Lendlease Corporation Limited

Lendlease Corporation Limited is a market-leading Australian integrated real estate group. Headquartered in Sydney, it is listed on the Australian Securities Exchange.

Its core capabilities are reflected in its operating segments of Investments, Development and Construction. The combination of these three segments provides them with a sustainable competitive advantage in delivering innovative integrated solutions for its customers. For more information, please visit: www.lendlease.com.

For more information on LREIT, please contact Investor Relations:

Lendlease Global Commercial Trust Management Pte. Ltd.
Ling Bee Lin
enquiry@lendleaseglobalcommercialreit.com
Tel: +65 6671 7374

Important Notice

This press release is for information purposes only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscribe for any securities of Lendlease Global Commercial REIT (“LREIT”) in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

The value of units in LREIT (the “Units”) and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by Lendlease Global Commercial Trust Management Pte. Ltd. (the “Manager”), DBS Trustee Limited (as trustee of LREIT) or any of their affiliates.

This press release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, (including employee wages, benefits and training costs), property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business.

An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Holders of Units (“Unitholder”) have no right to request the Manager to redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units.

This press release is not to be distributed or circulated outside of Singapore. Any failure to comply with this restriction may constitute a violation of United State securities laws or the laws of any other jurisdiction.

The past performance of LREIT is not necessarily indicative of its future performance.

^{____________________________
1} Year-to-date, comparing the weighted average rent of outgoing and incoming leases.
² Based on year-to-date completed lease renewal.
³ For details, please refer to the announcement “Lendlease Global Commercial Reit Completes Rent Review for Jem Office Lease” dated 28 February 2025.
⁴ Year-to-date compared against the corresponding period in FY2024.
⁵ Floor area and scheme are subject to final design and approval by the authorities.
⁶ On a proforma basis based on total assets at 31 March 2025, gearing is approximately 43% post S$200 million loan drawdown for the repayment of perpetual securities.
⁷ On a proforma basis, the refinancing of current borrowings amounting to S$450.5 million on their respective maturity dates extends the weighted average debt maturity to 3.1 years as at 31 March 2025.
⁸ Excludes amortisation of debt-related transaction costs.
⁹ The ICR in accordance with loan agreements exceeds 2.5 times, in excess of debt covenant at 2.0 times.
¹⁰ Per the PFA, calculation is based on a trailing 12 months period ending on the date of the latest reported financial results. For LREIT, the last reported financial results is as at 31 December 2024.


SOURCE : Lendlease Global Commercial Trust Management Pte Ltd.

Arla Foods Ingredients showcases protein soda concept at Vitafoods Europe

 

AARHUS, Denmark, May 7 (Bernama-GLOBE NEWSWIRE) -- Arla Foods Ingredients will highlight the functional benefits of pure BLG (beta-lactoglobulin) in a new protein soda concept at Vitafoods Europe. 

Consumers are increasingly seeking functional beverages that support active, balanced lifestyles. According to the Innova Category Survey 2024, nearly 20% reduce their consumption of traditional carbonated drinks in the past year¹.

Arla Foods Ingredients’ protein soda concept is a tailored response to the “better-for-you” soft drink trend, providing 10g of protein per serving with zero sugar. It features Lacprodan^® BLG-100 to deliver the nutritional power that consumers demand, while offering manufacturers the flexibility of hot and cold processing.

Compared to standard whey protein, Lacprodan^® BLG-100 contains more of the essential and branched chain amino acids necessary to support muscle maintenance and growth. Its protein content also supports satiety, appealing to the increasing number of consumers interested in weight management.

Sarah Meyer, Head of Sales Development, Performance Nutrition, at Arla Foods Ingredients, said, “Our exciting new protein soda concept meets the needs of consumers keen to switch out sugary beverages for thirst-quenching, healthier options. Lacprodan^® BLG-100’s outstanding purity ensures the refreshing, water-like viscosity, clarity and clean taste these consumers love. This enables brand owners to set a new quality standard for protein-enriched soft drinks, including those positioned around physical activity.”

Exhibiting at Stand 4D17 at Vitafoods Europe (20^th to 22^nd May in Barcelona), the leader in premium nutrition will also showcase three additional concepts:

• The Essentials Protein Bar, featuring Lacprodan^® SoftBar & Capolac^®. Rich in whey protein and calcium, with a high-fibre wholefood base and no added sugar, it remains indulgently soft throughout shelf life.
• The Refreshed in Seconds beverage – a ready-to-mix protein powder with quick foam breakdown. Made with Lacprodan^® ISO.RefreshShake whey protein isolate, this refreshing shake is ideal for post-workout recovery.
• Lacprodan MicelPure^® micellar casein isolate – the functional choice for health and medical foods. Providing high-quality, native milk protein, it has a mild, milky taste and low viscosity at high protein concentrations, with excellent heat stability and process flexibility.

Find out more about Arla Foods Ingredients’ Protein Soda concept by visiting:
https://arlafoodsingredients.com/sports-nutrition/explore-industry/concepts/protein-soda/

For more information contact:
Steve Harman, Ingredient Communications
Tel: +44 (0)7538 118079 | Email: steve@ingredientcommunications.com
_____________
¹ Innova Category Survey 2024

A photo accompanying this announcement is available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/160bbf4e-5af8-4e44-8de2-bc4413541eca 

SOURCE : Arla Foods Ingredients

EBC Financial Group Deepens Commitment to United to Beat Malaria with Renewed Global Partnership and First-Ever 5K Run Sponsorship

From strategic partnership to global employee action, EBC joins the global movement to end malaria for good 

WASHINGTON, April 29 (Bernama-GLOBE NEWSWIRE) -- As the world marks World Malaria Day 2025 under the theme “Malaria Ends With Us: Reinvest, Reimagine, Reignite,” EBC Financial Group (EBC) is renewing its global partnership with the United Nations Foundation’s United to Beat Malaria campaign. Now entering its second year of collaboration, EBC is scaling up its impact through increased corporate sponsorship, cross-border employee mobilisation to raise awareness, and direct investment in frontline health tools that save lives.

From a shared belief that no child should die from a mosquito bite, EBC is transforming its role from ally to active advocate—supporting both the global systems that drive malaria eradication and the grassroots initiatives that protect the world’s most vulnerable communities. As part of this commitment, EBC is stepping up as a first-time corporate sponsor of the Move Against Malaria 5K 2025 event, mobilising many in a global movement to raise awareness for one of the world’s deadliest—yet entirely preventable—diseases.

“In 2024, we stood in solidarity. In 2025, we stand in action,” said David Barrett, CEO of EBC Financial Group (UK) Ltd. “This campaign is now embedded into our leadership strategy and employee culture. This is not a moment, it’s a movement.” 

EBC’s Commitment to Global Health Equity is a Shared Mission
To mark this renewed partnership, Barrett sat down with Margaret McDonnell, Executive Director of United to Beat Malaria, for a candid 40-minute fireside chat. Their conversation explored the urgent need for global solidarity, the personal and professional impact of the campaign, and why EBC has chosen to walk alongside this cause—literally and figuratively.

“The first year for me was a complete revelation in terms of how advocacy for this mission worked—not only in America but globally,” said Barrett. “This year, it was different. The politics have shifted, and the challenges have changed. But if anything, that makes this mission even more important.”

As a global financial institution with operations in Africa, Latin America, and Asia—regions disproportionately affected by malaria—EBC views this fight as both urgent and deeply personal.

“We have offices in Africa, Latin America, and Asia where malaria is a very real, on-ground problem. Supporting this campaign is a natural progression, resonating with our people and the communities we work in,” Barrett said. “At the beginning, it was something of interest. But the more you learn about the lives this movement has saved, the more you realise you’ve got to keep going.”

McDonnell echoed the importance of having private sector allies like EBC on board, praising the company’s commitment to both the summit and the broader mission. “We appreciate that a company like EBC—though not in public health—recognises the impact of malaria on your workforce, clients, and communities,” said McDonnell. “Malaria isn’t just a health issue. It’s an economic issue, a workforce issue, and a strategic global issue.”

Barrett also emphasised the ripple effect of even small funding disruptions: “If you break that chain, the progress and investment just unravel. These initiatives require macro thinking. If we keep looking only at the next quarter, we risk losing decades of momentum,” he added.

Raising Voices at the 2025 United to Beat Malaria Annual Leadership Summit
In March 2025, Barrett and EBC’s APAC Director of Operations, Samuel Hertz, joined over 120 passionate advocates at the United to Beat Malaria Annual Leadership Summit in Washington, D.C.—a three-day gathering of Champions, policymakers, scientists, students, and private sector leaders united by a common goal: ending malaria for good.

The summit culminated in direct advocacy on Capitol Hill, where Barrett and Hertz met with members of Congress to push for full funding of the President’s Malaria Initiative (PMI), the Global Fund to Fight AIDS, Tuberculosis and Malaria, and the UN’s malaria-related programs. EBC stood with a network of global partners, amplifying the message that stable investment and strategic collaboration are essential to driving continued progress, alongside Beat Malaria Champions, a highlight of the summit.

“What stood out most was the passion of the Champions,” said Barrett. “From students to scientists, their energy is contagious. They’re not just learning—they’re leading. And that gives me hope that a healthier, more just world is truly possible.”

Hertz added, “Being able to walk into the halls of Congress alongside these dedicated Champions—people who are educating communities, building coalitions, and pushing policy forward—was a powerful reminder that advocacy works. EBC was proud to represent the private sector in this movement, and even prouder to walk beside the changemakers driving it.”

More Than a Run: EBC Rallies a Worldwide Workforce to Move Against Malaria
EBC is once again joining the global Move Against Malaria 5K—a virtual challenge running from April 25 to May 10 that invites participants around the world to walk, run, cycle, or move in any way to support malaria prevention efforts.

While EBC actively participated in the campaign last year, 2025 marks the company’s first year as an official corporate sponsor, highlighting its deepened commitment to both advocacy and action. This step forward reflects EBC’s evolving role in supporting frontline initiatives and raising awareness, with more than 200 EBC employees across the UK, Asia, Africa, and Latin America pledging to take part—mobilising teams, engaging their communities—and helping to raise vital funds. 

Fuelling Frontline Impact through Purposeful Investment
EBC is directing its investment toward life-saving malaria interventions, including insecticide-treated bed nets, rapid diagnostic tests, and antimalarial treatments. These contributions will be directed toward frontline health programs in Sub-Saharan Africa, Latin America and the Caribbean regions that bear the highest burden of malaria worldwide.

“This partnership goes beyond corporate philanthropy, it reflects a shared mission to protect the world’s most vulnerable populations,” said McDonnell.

Aligned with its broader Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) strategies, EBC continues to explore deeper collaborations with UN-affiliated organisations and global health partners to maximise its impact in the developing world. “As a global financial institution, we recognise that sustainable growth is inseparable from global well-being,” added Hertz. “In the fight against malaria, we are not only donors—we are advocates, allies, and catalysts for change.”

In 2024 alone, United to Beat Malaria helped protect over 1.67 million people from malaria across vulnerable communities worldwide—an achievement made possible through the collective support of partners like EBC Financial Group. Registrations and donations are available via https://fundraise.unfoundation.org/event/move-against-malaria-5k-2025/e654861.

These efforts spanned five high-risk African nations—DR Congo, Ethiopia, Nigeria, South Sudan, and Uganda—and supported malaria elimination programs across 20 Latin American and Caribbean countries, where vulnerable populations continue to face daily risks due to limited healthcare access, displacement, and ongoing conflict.

Yet the fight is far from over. According to the World Health Organization (WHO)’s World Malaria Report 2024, malaria sickened an estimated 263 million people and claimed more than 597,000 lives—most of them children under the age of five. These are lives we can save—with continued global action, private sector leadership, and unwavering support from the international community.

Together, with the United to Beat Malaria campaign, EBC is proud to stand at the forefront of a global movement to end malaria for good. For more information about EBC Financial Group’s CSR initiatives, please visit www.ebc.com/ESG. 

About EBC Financial Group

Founded in London’s esteemed financial district, EBC Financial Group (EBC) is renowned for its expertise in financial brokerage and asset management. With offices in key financial hubs—including London, Sydney, Hong Kong, Singapore, the Cayman Islands, Bangkok, Limassol, and emerging markets in Latin America, Asia, and Africa—EBC enables retail, professional, and institutional investors to access a wide range of global markets and trading opportunities, including currencies, commodities, shares, and indices.

Recognised with multiple awards, EBC is committed to upholding ethical standards and these subsidiaries are licensed and regulated within their respective jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA); EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA); EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC); EBC Financial (MU) Ltd is authorised and regulated by the Financial Services Commission Mauritius (FSC).

At the core of EBC are a team of industry veterans with over 40 years of experience in major financial institutions. Having navigated key economic cycles from the Plaza Accord and 2015 Swiss franc crisis to the market upheavals of the COVID-19 pandemic. We foster a culture where integrity, respect, and client asset security are paramount, ensuring that every investor relationship is handled with the utmost seriousness it deserves.

As the Official Foreign Exchange Partner of FC Barcelona, EBC provides specialised services across Asia, LATAM, the Middle East, Africa, and Oceania. Through its partnership with the UN Foundation and United to Beat Malaria, the company contributes to global health initiatives. EBC also supports the 'What Economists Really Do' public engagement series by Oxford University’s Department of Economics, helping to demystify economics and its application to major societal challenges, fostering greater public understanding and dialogue. 

https://www.ebc.com/ 

About UN Foundation’s United to Beat Malaria

For over 25 years, the UN Foundation has built novel innovations and partnerships to support the United Nations and help solve global problems at scale. As an independent charitable organization, the Foundation was created to work closely with the United Nations to address humanity’s greatest challenges and drive global progress. Learn more at www.unfoundation.org. 

The UN Foundation’s United to Beat Malaria campaign brings together key and diverse partners and supporters to take urgent action to end malaria and create a healthier, more equitable world. Since 2006, United to Beat Malaria has worked to equip and mobilize citizens across the U.S. and around the world to raise awareness, funds and voices. The campaign works with partners in endemic countries to channel life-saving resources to protect the most marginalized and vulnerable populations. By championing increased leadership, political will and resources from the U.S. and beyond, as well as more holistic, innovative tools and strategies, we can be the generation that ends malaria once and for all.

Learn more at www.beatmalaria.org. 

Media Contact:
Savitha Ravindran
Global Public Relations Manager
savitha.ravindran@ebc.com 

Chyna Elvina
Global Public Relations Manager
chyna.elvina@ebc.com 

Michelle Siow
Brand Director
michelle.siow@ebc.com 

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d08d69f6-099b-47e6-a289-c4c8b0630935
https://www.globenewswire.com/NewsRoom/AttachmentNg/2b4f4ac8-593b-417c-89c8-286a1b0f9731
https://www.globenewswire.com/NewsRoom/AttachmentNg/b6d511c0-f811-4390-88b0-321f0bb04158

SOURCE: EBC Tech Limited

--BERNAMA 

THE TRADE DESK EXPANDS PREMIUM CTV INVENTORY ACCESS GLOBALLY

KUALA LUMPUR, April 29 (Bernama) -- Global advertising technology leader The Trade Desk has announced expanded access to premium connected television (CTV) inventory through new partnerships with top streaming platforms Viu, iQiyi, and TCL Channel.

This collaboration enhances advertisers' ability to engage audiences more effectively via premium content on the open internet, optimising campaign performance across key markets across Asia-Pacific, including Hong Kong, as well as the Middle East and South Africa.

The Trade Desk General Manager, Inventory Development, North Asia, Douglas Choy expressed excitement to work closely with premium platforms such as Viu, iQiyi, and TCL Channel as they open up CTV inventory for programmatic trading.

“We look forward to expanding our partnerships with more premium internet content platforms to drive the growth of a dynamic digital advertising ecosystem in Hong Kong and beyond," he said in a statement.

As consumer viewing continues to evolve, CTV platforms offering premium content are seeing rapid adoption, prompting many to shift from subscription-based video-on-demand (SVOD) models to ad-supported video-on-demand (AVOD).

According to Statista, global CTV ad spending is expected to exceed US$38 billion by 2027, while global AVOD market revenue is projected to grow from US$48.32 billion in 2024 to US$63.5 billion by 2027. (US$1=RM4.35)

This enhanced partnership with premium over-the-top (OTT) players in the region allows advertisers to target audiences with greater precision and efficiency, driving improved campaign performance.

By leveraging omnichannel frequency controls, advertisers can minimise audience overlap, avoid ad fatigue, and gain deeper insights into campaign effectiveness, enabling them to optimise their strategies further.

For consumers, personalised ads tailored to individual preferences offer more relevant and engaging experiences, empowering them to make more informed purchasing decisions.

-- BERNAMA

CHINA’S TMNCH CREDIT RATINGS AFFIRMED EXCELLENT - AM BEST

KUALA LUMPUR, April 28 (Bernama) -- Global credit rating agency, AM Best has assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a” (Excellent) to The Tokio Marine and Nichido Fire Insurance Company (China) Limited (TMNCH).

The outlook assigned to these credit ratings (ratings) is stable, reflecting TMNCH’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

AM Best in a statement said the ratings also factored in the rating enhancement from its parent, Tokio Marine & Nichido Fire Insurance Co Ltd (TMNF), which is the main insurance operating entity of Tokio Marine Holdings Inc.

Benefitting from preferential access to Japanese interests abroad, business in China given its affiliation and common branding with TMNF, the company also receives various implicit support from its parent, including reinsurance protection, management oversight, and risk framework and governance.

With gross premiums written (GPW) reaching 976 million Chinese yuan in 2024, which represents less than one per cent of its total market share, TMNCH has a moderately diversified underwriting portfolio, consisting of motor, fire, marine, liability and other lines. (100 Chinese yuan = RM59.90)

In terms of its distribution channel, around 70 per cent of TMNCH’s GPW are underwritten by inward treaty contracts or on a direct basis, while the remainder is sourced through brokers and agents.

AM Best assesses TMNCH’s risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio, supplemented by its low underwriting leverage and conservative investment strategy, as well as positive liquidity.

The company’s capital and surplus remain comparatively modest but stable, driven by partial profit retention over the years, and its solvency stays robust with a comfortable buffer above the regulatory requirement.

TMNCH’s operating performance was viewed as strong, as demonstrated by a five-year average (2019-2023) operating ratio of 88.9 per cent and a return-on-equity ratio of 11.6 per cent. In 2024, however, the company’s top-line performance was affected by the slowdown in the business activity of Japanese entities in China, as well as a more cautious approach to risk selection.

-- BERNAMA