TUM RACES TO VICTORY AT ASPIRE'S INAUGURAL ABU DHABI AUTONOMOUS RACING LEAGUE AT YAS MARINA CIRCUIT

 

• TUM secures victory in a last lap overtake, ahead of CONSTRUCTOR, POLIMOVE and UNIMORE
• H.H. Sheikh Theyab awarded the Championship Trophy, along with H.E. Faisal Al Bannai
• Inaugural autonomous car race drew over 10,000 spectators at the circuit and over 600,000 online viewers in 12 hours
• Eight fully autonomous AI-powered cars fought to win US$2.25 Mn cash prize pot
• Four autonomous cars raced wheel-to-wheel in world-first attempt
• Former F1 driver Daniil Kvyat wowed crowds with narrow victory by 10.38 secs in AI vs Human race
• Series to accelerate autonomous adoption and development, enable future mobility

ABU DHABI, United Arab Emirates, April 29 (Bernama-BUSINESS WIRE) -- TUM (Technical University of Munich) from Germany, claimed victory at the inaugural Abu Dhabi Autonomous Racing League (A2RL), at Yas Marina Circuit on Saturday (April 27). As the cars lined up on the grid, with antennae, sensors, AI capabilities, and drive-by-wire systems instead of human drivers, eight teams vied with one another over two days of races and challenges. TUM beat back the competition with its coding and engineering skills in a world-first, four-car race finale, to claim the winner’s share of US$2.25 million prize pot.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20240428292385/en/

 

Bringing a science experiment to the racetrack, the inaugural race pushed the boundaries of autonomous technology while adding entertainment value to extreme sports at an unprecedented scale. A2RL drew over 10,000 spectators at the circuit and captured the attention of over 600,000 online viewers in just 12 hours. Organized by ASPIRE, a subsidiary of Abu Dhabi’s Advanced Technology Research Council (ATRC), A2RL fuses extreme autonomous racing and AI to accelerate the global development of autonomous systems and technologies.

Following months of meticulous preparation spent refining driving AI algorithms in simulations, A2RL’s customized Dallara Super Formula SF23 cars tested the limits of human ingenuity and AI capability. Each team utilized an identical Super Formula race car - the fastest open-wheel race car in the world after Formula One- adapted for autonomous racing by the Technology Innovation Institute (TII), a sister company of ASPIRE.

Teams faced a complex task in coding. From understanding grip levels, managing tire temperatures, predicting opponent movements, performing successful overtakes, and operating the SF23 right at the limit of grip, the AI needed to perform all the things that racing drivers do intuitively. Additionally, with four autonomous cars racing on the track simultaneously, it marked a world-first attempt that added another layer of challenge.

In a last-lap shootout, the German outfit TUM snatched first place in a daring overtake when front-running Italian team UNIMORE slowed down and came to a stop on the track. The team was congratulated on the racetrack by H.H. Theyab bin Mohamed bin Zayed, who presented the Championship Trophy, along with H.E. Faisal Al Bannai, Secretary General, ATRC, and Strategic Research & Advanced Technology Affairs Advisor to the UAE President.

Simon Hoffmann, Team Principal, said: “This event has been nothing short of extraordinary, and the finale was our defining moment. We are absolutely thrilled with the outcome; it speaks volumes about our collective engineering prowess, coding expertise, and sheer determination. It's a testament to the incredible power of AI driving the evolution of autonomous mobility into the future!"

Spectators also enjoyed the riveting AI versus Human Race, where the Technology Innovation Institute (TII), pitted its autonomous car against renowned Formula One driver Daniil Kvyat. While Kvyat managed to hold his own and edge past his autonomous adversary by 10.38 secs, the spectacular 45-minute race highlighted just how close the autonomous race car performs against a human driver.

H.E. Al Bannai, said: “Through the Abu Dhabi Autonomous Racing League, we've sparked a race revolution. Showcasing fully autonomous racecars competing wheel-to-wheel, we've redefined the UAE's role in innovation and set a bold precedent for global mobility. This event isn't just a race; it's a transformative moment where technology, imagination, and ambition converge. A2RL serves as a beacon, inspiring the next generation through physical and virtual realities, while shaping a future where the impossible becomes achievable."

H.E. Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, and Group MD & CEO of ADNOC, as Title Sponsor, said: “Advances in artificial intelligence promise to transform every industry. The A2RL demonstrates the application of AI and as title sponsor, ADNOC is proud to help push the frontiers of science and innovation.”

Stephane Timpano, CEO of ASPIRE, said: “The launch of A2RL has reshaped the landscape of sports and technology, leaving a lasting impact for years to come. Moving forward, we're broadening our focus to include different vehicle types, while actively attracting top talent worldwide to showcase their mettle.”

On the sidelines of the main event, the A2RL STEM Challenge for high-school and undergrad students between the ages of 14 and 21 drew the participation of 18 local schools, in addition to an international entry from the Boys and Girls Club from Southeastern Michigan, to showcase their knowledge, skills, and innovation by racing 1:8 scale autonomous cars. The winner of the A2RL STEM Challenge was Heriot-Watt University.

A2RL pioneered the integration of mixed and virtual reality elements for the first time in autonomous racing. It gave each of the eight finalist teams a unique avatar persona and incorporated state-of-the-art Virtual Reality (VR) technology ahead of F1 implementation, igniting enthusiastic fan experience both online and offline. Fans at the event in Yas Marina Circuit got to enjoy insightful STEM workshops, intriguing VR challenges, Gran Turismo simulators, doodle cars, and a Raceum AI Museum, among other activities. The inaugural event concluded with a spectacular display of fireworks and drones, illuminating the iconic Yas Marina Circuit.

A2RL 2024 was successfully supported by ADNOC as Title Sponsor, and leading partners, including Du, DMT, AWS, and Mubadala, who played pivotal roles in shaping the event’s trajectory.

Details of the eight participating teams and other updates can be found at A2RL.io.

Source: AETOSWire 

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MIMOS BERHAD AND CETC INTERNATIONAL (CETCI) SIGN GROUNDBREAKING MOU IN DIGITAL ECONOMY AND GREEN TECHNOLOGY

 

Ts Dr. Lee Hing Wah, Head of Semiconductor R&D of MIMOS Berhad (third from right) and Mr. Wang Qiang, Chairman of CETC International (fourth from left), exchange a Memorandum of Understanding witnessed by YB Tuan Chang Lih Kang, Minister of MOSTI (in the centre).

BUKIT JALIL, April 26 (Bernama) -- In a significant event held today, marking Malaysia and China’s 50th anniversary of their diplomatic relations, MIMOS Berhad, Malaysia’s National Applied Research and Development Centre under the Ministry of Science, Technology and Innovation (MOSTI), CETC International (CETCI) under China Electronics Technology Group Corporation (CETC), promises to propel technological advancements and sustainable development in both nations, with the signing of a Memorandum of Understanding (MOU) to foster collaboration in digital economy and green technology.

The signing ceremony, which symbolises a half-century of cooperation and mutual growth between Malaysia and China, focuses on leveraging the strengths of both MIMOS and CETC to enhance innovation in the digital economy and green technology. This technology is critical for developing more efficient, and environmentally friendly products and systems, aligning with global demands for sustainable and advanced technological solutions.

YB Tuan Chang Lih Kang, Minister of Science, Technology, and Innovation, emphasised the importance of this partnership in his address at the event: "Today, we not only celebrate 50 years of strong diplomatic ties with China but also embark on a promising journey towards significant technological advancements. This MOU is not just a testament to our shared history but a forward-looking step into a future where our combined efforts will undoubtedly yield substantial benefits for both nations' technological and industrial sectors."

CETC echoed the statement and emphasised that the collaboration is timely, as global demand for sophisticated digital technologies and eco-friendly solutions is surging. The MOU highlights a shared commitment to nurturing innovation, spurring economic growth, and promoting sustainable development. By combining MIMOS' research and development capabilities with CETC's extensive experience and technological expertise, both parties aim to enhance their R&D initiatives and foster talent, thereby contributing to Malaysia’s vision of becoming a globally competitive, technology-driven nation.

The MOU also underscores the importance of international partnerships in today’s interconnected world, strengthening the technological and economic bonds between Malaysia and China. As both countries continue to champion the digital economy and green technology, this partnership is a beacon of international cooperation and mutual development. 

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Gansu Hengyuan Dongli New Energy Expands Sales Channels At Abu Dhabi Summit

KUALA LUMPUR, April 22 (Bernama) -- Gansu Hengyuan Dongli New Energy Limited Company has signed contracts with several international solar buyers, opening new international sales channels for China photovoltaic new energy enterprises at the recent World Future Energy Summit in Abu Dhabi.

During the summit, representatives of Gansu Provincial Government of China and Jiuquan Municipal Government was also visiting Dubai and Saudi Arabia. The signing ceremony, held in Dubai, was attended by the leader of Gansu Province and mayor of Jiuquan.

Gansu Hengyuan Dongli New Energy President, Xian Xiaoli said ‘Green and Prosperity Together’ is the company’s development goal and ‘Technology Priority and Quality First’ is the standard it adheres to in exploring both domestic and international markets.

Responding to China's strategic call of "Carbon Peaking and Carbon Neutrality", the company in a statement said it has invested about four billion Chinese yuan (approximately US$553 million) in a six gigawatt (GW) photovoltaic module base project in Jiuquan City, covering an area of 152 mu, of which 2.4GW production line has been completed and put into operation, with the remaining still under construction. (US$1=RM4.78)

To form a fully closed-loop Hengyuan new energy equipment manufacturing industrial chain and build a new energy equipment manufacturing industry demonstration park, the company plans to build an inverter factory, a photovoltaic bracket factory as well as a wire and cable factory in the later stage, covering an area of about 160 mu, with investments about two billion Chinese yuan.

Hengyuan Photovoltaic Module focuses on high power output and extreme reliability and is committed to reducing the overall system cost and improving investors' income.

It adopts the latest high-efficiency intelligent production line equipment to meet various specifications of products, as well as established in-depth cooperation with well-known enterprises at home and abroad to jointly promote the research and development (R&D) and application of new energy technologies.

Furthermore, it has established a New Energy Technology Research Institute in Jiuquan, Gansu Province, led by a team of national experts and academicians from China, focusing on the investment in the R&D field of new energy technologies.

This will ensure the continuous upgrading and iteration of enterprise industrial technologies, while promoting the rapid development of new energy industries in the local and even western regions with services.

-- BERNAMA

FreedomPay, Elavon Alliance Reshaping European Payments For Hospitality, Retail

KUALA LUMPUR, April 26 (Bernama) -- FreedomPay, a global leader in Next Level Commerce technologies, has expanded its collaboration in Europe with Elavon, a global payments provider.

The partnership aims to deliver cutting-edge integrated commerce solutions and omni-channel payments technology to large enterprise merchants across retail and hospitality.

“Together, Elavon and FreedomPay are reshaping the global payments landscape, introducing greater functionality and innovation to enterprise businesses and their customers.

“Merchants can now expect a seamless and consistent payments experience backed by Next Level data, loyalty, and security,” said FreedomPay President, Chris Kronenthal in a statement.

Meanwhile, Elavon Europe President, Hemlata Narasimhan said: “Elavon and FreedomPay have an enviable track record in Europe of helping hospitality and retail merchants grow their operations and better meet their customers’ needs.”

The agreement pairs Elavon acquiring with FreedomPay commerce technologies to benefit Elavon merchants across Europe, empowering businesses with enhanced payment flexibility and optionality, data security, and a seamlessly integrated payments technology across both physical and ecommerce channels.

Elavon has long been a leader in hospitality and retail payments, and integrating with the FreedomPay Commerce Platform merges security, identity, payments, loyalty, and advertising with proprietary data driven solutions.

FreedomPay’s Next Level Commerce platform transforms existing payment systems and processes from legacy to leading edge and enables merchants to unleash the power of pay.

As the premier choice for many of the largest companies across the globe, FreedomPay’s technology has been purposely built to deliver rock solid performance in the highly complex environment of global commerce.

-- BERNAMA

'WORLD OF COFFEE & WORLD BARISTA CHAMPIONSHIP BUSAN 2024' TO LAUNCH ON MAY 1ST

The Global Specialty Coffee Event is Held in BEXCO, Busan, the First in Asia

World of Coffee & World Barista Championship Busan is held from May 1st to 4th at BEXCO.

BUSAN, South Korea, April 25 (Bernama-BUSINESS WIRE) -- Global coffee figures and baristas will gather at BEXCO, Busan in May.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20240424527060/en/

 

Specialty coffee industry professionals from around the world will gather at BEXCO, Busan, from May 1-4, 2024, for the inaugural World of Coffee in Asia. This event will also feature the 2024 World Barista Championship, bringing together top baristas from across the globe. The Specialty Coffee Association (SCA) is working with host Busan Metropolitan City and organizer EXPORUM, with support of the 2024 Portrait Country, Indonesia, to debut World of Coffee in Busan, marking a significant milestone for the Asian coffee community. Over 20,000 global attendees, including 12,000 industry professionals from 70+ countries, are expected to visit BEXCO, anticipating contributions not only to the event but also to local economic activation.

At the 'World of Coffee 2024,' more than 280 domestic and international coffee companies will participate, showcasing coffee-related products, technologies, and services, including the Roaster Village exhibition to introduce domestic and international roastery cafes and brands. Additionally, activities such as networking with global coffee enthusiasts at the 'SCA Community Lounge,' experiencing and evaluating various domestic and international coffees in the 'Cupping Room,' and engaging in seminars to experience and promote new coffee cultures will be conducted, creating a platform for diverse experiences and trends representing the global coffee event.

The World Barista Championship will return to Korea after seven years where it was last held at Cafe Show Seoul. Competitors demonstrate their expertise in crafting innovative espresso-based drinks across the espresso, milk, and signature beverage courses, with the cutting-edge approaches and tools used on stage having extensive and enduring impacts on the industry.

Yannis Apostolopoulos, President of the Specialty Coffee Association, hosting 'World of Coffee & World Barista Championship Busan 2024,' expressed expectations that this event will serve as a significant starting point for Korea's coffee industry development and a new chapter for 'World of Coffee Asia' to shape the cultural and future landscape of the Asian coffee market.

Early bird tickets are available on the World of Coffee Asia official website until April 28th and then will only be available for purchase at the show. For exhibiting and ticket registration please visit: https://asia.worldofcoffee.org/

[Reference] ‘World of Coffee & World Barista Championship Busan 2024’ Overview

• Title: World of Coffee & World Barista Championship Busan 2024
• Schedule: 1 (Wed) ~ 4 (Sat) May 2024, 4 days, 10:00~17:00
• Location: Exhibition Center 1, BEXCO, Busan, Republic of Korea
• Owned by: Specialty Coffee Association (SCA)
• Hosted by: Busan Metropolitan City
• Organized by: Busan Technopark, EXPORUM 

  

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MIMOS BERHAD AND PHISON ELECTRONICS CORPORATION FORGE STRATEGIC ALLIANCE TO ELEVATE MALAYSIAN SMES

BUKIT JALIL, April 25 (Bernama) -- MIMOS Berhad, a premier innovation centre in semiconductors, microelectronics, and ICT technologies under the Ministry of Science, Technology and Innovation (MOSTI), and Phison Electronics Corporation, a global leader in NAND flash controllers and storage solutions, signed a Memorandum of Cooperation recently in Kuala Lumpur witnessed by YB Tuan Chang Lih Kang, MOSTI Minister.  This strategic collaboration will advance Artificial Intelligence (AI) driven model training in Malaysia.
 
MIMOS and Phison are joining forces to address the critical need for AI applications that safeguard confidential information while boosting competitiveness for Malaysian businesses. This partnership will harness Phison’s aiDAPTIV+ platform and MIMOS' expertise in E&E research and development to transform the training of large language models (LLMs), enhancing accessibility for SMEs without the need for extensive resources.
 
The collaboration will produce specialised firmware for the aiDAPTIV+ platform, offering SMEs cost-effective, efficient LLM training solutions previously available only to larger enterprises. Additionally, the platform will be adapted for various use cases, providing affordable LLM fine-tuning both as a technology and a service.
 
Dr. Saat Shukri Embong, the Acting President and Chief Executive Officer of MIMOS remarked, “Besides the immediate benefit to SMEs that are keen to utilise AI in their business strategies, this partnership between Phison and MIMOS is also a strategic avenue to boost the nation's capabilities and capacity in integrated circuits development and system design. We are very excited about this opportunity for both MIMOS and Malaysia.”
 
About Phison Electronics Corporation
Founded in Taiwan in 2000, Phison started with the world’s first single-chip USB flash drive controller IC. Over the next 24+ years, Phison grew to become a market leader in NAND flash controllers and NAND storage solutions, including PCIe/SATA/PATA SSD, UFS, eMMC, SD and USB. Today, nearly one out of every four SSDs shipped worldwide is a Phison solution. Phison solutions leverage advanced technologies that enable life and work as we know it today, and prepare us for how it will change tomorrow. Phison is a trusted partner in extended engineering, design and manufacturing services. It serves top PC OEMs, NAND product manufacturers, rack storage OEMs and major consumer/retail brands.
 
About MIMOS Berhad
MIMOS is a strategic agency under the Ministry of Science, Technology and Innovation (MOSTI) and a premier innovation centre in Semiconductors, Microelectronics, and ICT technologies, contributing to Malaysia’s socio-economic growth through patentable technology platforms, products, and solutions. Since its inception, MIMOS has filed more than 1,300 patents in various technology domains and across key socio-economic areas driving Malaysia’s digital transformation journey into the international arena, rebranding itself as MIMOS Global in 2022.
 
As a centre of research excellence, MIMOS R&D activities currently focus on Semiconductor & Thin Film Research, Advanced Electronics & Embedded Systems, as well as Manufacturing and Smart Nation technologies. MIMOS continuously enhance its collaborations with existing strategic partners, explores new opportunities with potential partners, and develops new technology companies and business-oriented technology venture organisations. MIMOS also maintains its R&D of advanced technology, explores the development of global technopreneurship, and cultivates an attitude of trust, innovation and high performance.
 
For more information, please visit www.mimos.my. 

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UNIRAZAK SHOWCASES COMMITMENT TO EDUCATIONAL EXCELLENCE AT THE 2024 EDUCATION AND LEARNING SUMMIT

 

Distinguished delegation representing UNIRAZAK with the Deputy Minister of Education Malaysia, YB Wong Kah Woh

Highlights:

·  UNIRAZAK participated in the 2024 Education and Learning Summit and was awarded the Malaysian Education Excellence Award for its dedication to academic excellence and continuous improvement.
·  The Vice Chancellor of UNIRAZAK, YBhg. Prof. Datin Paduka Dr. Samsinar Md Sidin participated in a discussion on fostering creativity and innovation in Malaysian higher education, emphasised collaboration with the government to achieve even greater heights in Malaysian education.
·  UNIRAZAK established its own TVET Accredited Centre (Pusat Bertauliah) offering various programmes in accordance with the government placing a high priority on developing TVET programmes.  

KUALA LUMPUR, April 25 (Bernama) -- Universiti Tun Abdul Razak (UNIRAZAK) participated in 2024 Education and Learning Summit recently held at WTC, Kuala Lumpur on 23^rd April 2024. The distinguished delegation representing UNIRAZAK, led by the Chief Executive Officer, Encik Amil Izham Hamzah and Vice Chancellor YBhg. Prof. Datin Paduka Dr. Samsinar Md Sidin, alongside the Deputy Vice Chancellor of Academic Excellence and Sustainability, Prof. Dr. Zulkifflee Bin Mohamed and Deans representing the Schools.
 
UNIRAZAK was presented with the Malaysian Education Excellence Award by the Deputy Minister of Education Malaysia, YB Wong Kah Woh, and Deputy Chairman of KSI Strategic Institute for Asia Pacific, Datuk Seri Mohamed Iqbal Rawther. Adding to the honour, YBhg. Prof. Datin Paduka Dr. Samsinar Md Sidin was invited as a distinguished panellist for the session titled "Higher Education Institutions in Malaysia: Fostering Creativity and Innovation - A Vice Chancellor Roundtable."
 
YBhg. Prof. Datin Paduka’s participation in this discussion reflects the institutional leadership role in driving creativity and innovation within the national education sector. During the closing remarks, YBhg. Prof. Datin Paduka powerfully conveyed, "As a private university, working together with the unwavering support of the government, we can advance further in Malaysian education." This message resonated with the audience, highlighting UNIRAZAK's commitment to working alongside the government for the excellence of Malaysian education.

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EIG'S MIDOCEAN ENERGY COMPLETES ACQUISITION OF 20 PERCENT STAKE IN PERU LNG

WASHINGTON, April 24 (Bernama-BUSINESS WIRE) -- MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its previously announced agreement to acquire SK earthon’s (“SK”) 20 percent interest in Peru LNG (“PLNG”), owner and operator of the first LNG export facility in South America.

PLNG’s assets comprise a natural gas liquefaction plant with 4.45 mmtpa processing capacity, a fully-owned 408km-long pipeline with 1,290 mmcf/d capacity, two 130,000 m3 storage tanks, a fully-owned 1.4 km-long marine terminal and a truck loading facility with capacity of up to 19.2 mmcf/d. PLNG, operated by Hunt Oil Company, is one of only two LNG production facilities in Latin America, located in Pampa Melchorita, 170km south of Lima.

De la Rey Venter, MidOcean Energy’s CEO, said, “The completion of this investment is an important milestone in our efforts to create a global, diversified and resilient portfolio of LNG assets. As the only LNG export facility in South America, PLNG is uniquely positioned in the global marketplace. PLNG also plays an important role in providing gas and LNG to customers in Peru. We look forward to a strong partnership with the PLNG co-venturers and our work towards sustaining PLNG’s positive impact for many years to come.”

The completion of this transaction follows MidOcean’s recent announcement of a strategic investment by Mitsubishi Corporation and the completion of its acquisition of Tokyo Gas Co. Ltd.’s interests in a portfolio of Australian integrated LNG projects.

Morgan Stanley acted as exclusive financial advisor to MidOcean on the transaction. Latham & Watkins acted as legal advisor to MidOcean on the transaction.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $22.9 billion under management as of December 31, 2023. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 41-year history, EIG has committed over $47.1 billion to the energy sector through over 405 projects or companies in 42 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.

About MidOcean Energy

MidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost and carbon competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical enabler of the energy transition and the growing importance of LNG as a geopolitically strategic energy resource. MidOcean Energy is headed by De la Rey Venter, a 26-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc.

For additional information, please visit EIG’s website at www.eigpartners.com or MidOcean Energy’s website at www.midoceanenergy.com. 

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EMGA SECURES US$ 15M FINANCING FOR BANCO IMPROSA IN COSTA RICA

LONDON, April 23 (Bernama-GLOBE NEWSWIRE) -- Emerging Markets Global Advisory LLP (EMGA), in partnership with Banco Improsa, announces that it has secured a US$15 million line of credit from The Japan International Cooperation Agency (JICA).

EMGA’s Head of Investment Banking and Managing Director of EMGA, Sajeev Chakkalakal, stated: "In spite of a challenging global macroeconomic environment, we are pleased to once again facilitate Banco Improsa’s continued vision to supporting SMEs in Costa Rica and complete this financing solution."

Commenting on the transaction, Felix Alpizar Lobo, General Manager of Banco Improsa, said: "This financing reaffirms our commitment to strengthening the SME segment in Costa Rica. Banco Improsa is proud to share JICA's objective of contributing to the economic and social growth of developing countries."

EMGA’s Managing Director Jeremy Dobson added: "Banco Improsa's strong management and healthy financial position were key factors in helping the EMGA Investment Banking team secure this funding, and this JICA facility will further strengthen Banco Improsa’s ability to grow its core SME lending book."

JICA

The Japan International Cooperation Agency is a governmental agency that provides most of the Official Development Assistance for the Government of Japan. It is chartered with assisting the economic and social growth of developing countries, and the promotion international cooperation.

EMERGING MARKETS GLOBAL ADVISORY LLP (EMGA)

EMGA, with offices in London and New York, assists financial institutions and corporations seeking new debt or equity capital. EMGA’s multi-national team combine the decades of experience necessary to complete transactions on behalf of their clients within the world’s emerging markets and frontier economies, including Costa Rica which remains a key market. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues expanding its geographic reach and service offering, solidifying its place in the market as one of the industries pre-eminent emerging markets focused niche investment banks.

BANCO IMPROSA

It is a commercial bank with more than 37 years of experience, whose relational business model and focus on niche markets specializes in providing financing solutions and services to small and medium-sized enterprises (SMEs), among others. Banco Improsa was one of the first private banks in Costa Rica to offer non-financial services to its clients and has a long-standing history of providing advice and support to SMEs. Banco Improsa's key success factor is its commitment to high standards of agile and flexible service, which, together with the offer of customized financial solutions, has enabled it to achieve a solid position in these segments.

Banco Improsa is a subsidiary of Grupo Financiero Improsa (GFI). 

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Concentrix's Rebranding Reinforces Position As Technology, Services Provider

KUALA LUMPUR, April 23 (Bernama) -- Concentrix Corporation, a global technology and services leader that has been operating under the trade name of Concentrix + Webhelp, announced its transition to the Concentrix name and continued evolution of its brand.

Concentrix President and Chief Executive Officer, Chris Caldwell said: “With this rebrand, we solidify our position as a leading technology and services company that is human-centred, tech-powered and intelligence-fuelled.

“Whether it’s designing game-changing brand experiences, building and scaling secure AI technologies, or running digital operations, we bring together fully integrated solutions that solve our clients’ toughest business challenges.”

According to Concentrix in a statement, this rebrand reinforces the company’s continued commitment to bringing together a comprehensive and unmatched portfolio of capabilities.

With an expanded breadth of generative artificial intelligence (Gen AI) solutions, digital capabilities, and high-value services, the company believes it has never been better positioned to deliver fully integrated, end-to-end solutions across the entire enterprise, at speed and scale.

The Concentrix name is based on the concept of concentric circles, reflecting the company’s focus on keeping its people and clients always at the centre, a concept that is still as relevant today as it was when the name was established.

The newly designed visual identity represents the technology and transformative solutions that Concentrix delivers to power the brands of the future.

Currently, Concentrix’s more than 2,000 clients benefit from a robust, well-balanced footprint, backed by global consistency, local market expertise and a world-class portfolio of capabilities aligned to design, build, and run the cutting-edge solutions the company delivers.

-- BERNAMA

METAHOMES GRANTS CUSTOMERS FREE PROPERTY LISTINGS

KUALA LUMPUR, April 22 (Bernama) -- MetaHomes, an online global real estate platform, announced it will not impose fees or contractual obligations on its customers, granting them the freedom to post properties on its platform for free, underscoring its commitment to democratise access to the real estate market, levelling the playing field for individuals and businesses alike.

This groundbreaking limited time initiative eliminates upfront costs, providing property owners with an equal opportunity to showcase their properties to a vast and diverse audience.

The platform opens its doors to property owners of all backgrounds, offering a chance to display a wide range of accommodations, including homestays, hotels, vacation homes, and apartment rentals, without incurring any listing expenses or contractual bindings.

Responding to that, its Chief Executive Officer, Jerry Wu in a statement, expressed optimism about the company's role in shaping the future of real estate in the United Arab Emirates (UAE) and beyond.

In the last couple of decades, the UAE has emerged as a beacon of innovation, prosperity, and opportunity, drawing millions of people globally.

Renowned for its world-class attractions, vibrant lifestyle, robust economic benefits, and progressive governmental initiatives, the country stands as a shining example of modernity and growth in the Middle East and beyond.

One of the key indicators of the UAE's thriving tourism sector is the staggering number of visitors it welcomes each year. The nation played host to over 3.67 million visitors from Jan to Feb alone, according to the Dubai Government Tourism Department, a testament to its enduring appeal as a global travel hub.

Focusing on innovation, collaboration, and customer satisfaction, MetaHomes endeavours to create a seamless and rewarding real estate experience for all stakeholders.

With a vision that transcends borders and boundaries, it aspires to be the catalyst for positive change in the real estate industry, ushering in a new era of technological accessibility, and opportunity for all.

Against this backdrop of prosperity and promise, MetaHomes leverages cutting-edge technology, including artificial intelligence (AI), virtual reality (VR), and Internet of Things (IoT) solutions, to redefine industry standards and offer a seamless real estate experience.

-- BERNAMA

GIAMBATTISTA VALLI DEBUTS BRIDAL COLLECTION IN BARCELONA

KUALA LUMPUR, April 22 (Bernama) -- The Maison Giambattista Valli debuted its bridal runway during Bridal Night, the gala evening of the event organised by Fira de Barcelona with the support of the Catalan Ministry of Business and Labor, in the historic building of the Llotja de Mar.

Held during Barcelona Bridal Fashion Week, Valli showcased 30 creations from his collection, a culmination of silhouettes, representing a comprehensive exhibition of his concept of contemporary bridal dressing, according to a statement.

“I chose Barcelona and Bridal Fashion Week for the debut of my Love Collection 3 because it is an event that attracts a diverse audience of fashion enthusiasts, designers, buyers and media from all over the world, and provides me with maximum global visibility and opportunities for success.

“In addition, Barcelona's romantic and cosmopolitan atmosphere matches perfectly with the theme of my collection, which celebrates love and romance,” Valli said.

The fashion show featured 10 dresses from Valli’s third “Love Collection”, 10 iconic silhouettes from the first and second “Love Collections” and 10 Haute Couture creations, inspiring the magnificence and the savoir-faire of the Ateliers, stepping away from classic wedding rituals and focusing on the significance of the emotions of the “moment” and the joys of celebrations.

Infused with the Maison’s idyllic aesthetic and excellence, Valli's dresses stood out with a contemporary edge, whether through clean lines, unforgettable volumes or unexpected details inspired by the personalities of an imaginary new group which is his friends.

This blend of classic and modern appeals to many brides worldwide looking for a unique wedding gown, in pure Valli style and tied to their own personal storytelling.

The Barcelona Bridal Night boasted a grandiose of audience which include it-girl, model and international fashion icon Olivia Palermo; model and countess Lara Cosima Henckel von Donnersmarck; stylist and designer Pelayo Diaz; actress Hiba Abouk; actress and model Blanca Romero; model Marco Llorente; and TV hostess and actress Marta Torné, among other personalities.

-- BERNAMA

Sanjay D. Goorachurn Takes The Helm As Medisca CEO

KUALA LUMPUR, April 17 (Bernama) -- Recursion, a clinical stage TechBio company has appointed Dr Najat Khan as Chief R&D Officer and Chief Commercial Officer, to lead its research and development, and build its emerging commercial capabilities.

According to Recursion in a statement, Dr Khan has also been appointed to the company’s Board of Directors.

“Najat brings a unique blend of leadership in biological, chemical, and medical sciences, data science, and business. More importantly, she has a vision and passion for transforming drug discovery and development that complements ours and she has a strong sense of urgency to accelerate the industry’s future.

“We are excited to welcome her as a Recursionaut to drive our portfolio pipeline, as well as create commercial strategies as we continue to industrialise the creation of high impact medicines,” said Recursion Co-Founder and Chief Executive Officer, Chris Gibson.

Meanwhile, Dr Khan said: “My mission and focus has been to harness the power of science, data, and AI to revolutionise the way we discover, develop, and deliver transformative medicines for patients.

“This seamlessly aligns with Recursion’s goal to pioneer the burgeoning TechBio sector and decode biology and chemistry to radically improve lives. I believe their approach represents the future of our industry, and sets Recursion to be at the forefront to deliver on this vision.”

Dr Khan has deep expertise in the pharmaceutical and healthcare industry, spanning biological, chemical, and medical science, computational and data science, and general business leadership, with a focus on driving substantial patient and business value. 

She also serves as a board member for Alliance for Artificial Intelligence in Healthcare and is a Steering Committee member of the White House’s Moonshot CancerX programme to enhance outcomes for cancer patients. 

-- BERNAMA

EMGA Secures US$50 Mln Financing For Kazakhstan’s MFO KMF

KUALA LUMPUR, April 16 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA) has secured a US$50 million facility senior debt facility from the Japan International Cooperation Agency (JICA) for Kazakhstan’s MFO KMF. (US$1=RM4.78)

EMGA Head of Investment Banking and Managing Director, Sajeev Chakkalakal in a statement said: “We are delighted to have arranged this new landmark debt facility for our long-standing client KMF.

“It has been a real pleasure to work with them again, as they continue to solidify their position as the largest MFI in the country, and further strengthen their financial position in spite of turbulent times.”

Concurrently, EMGA Managing Director, Jeremy Dobson added this new financing will help KMF deliver on its stated mission; to continue to help entrepreneurs throughout Kazakhstan, and to develop its business with a greater focus on female owned businesses and in rural areas.

Meanwhile, KMF Chairman of the Board, Shalkar Zhusupov said this is the first time KMF has entered into a partnership with JICA, whose goals and mission are close to its own.

“The funds from JICA will be used to implement projects to support micro and small enterprises, including rural entrepreneurs, which will create new opportunities and contribute to their economic growth," said Zhusupov.

MFO KMF is one of the leaders in the Central Asian microfinance sector, and the company disburses clients individual and group loans for activities, including business, trade, crop farming and cattle-breeding.

On the other hand, JICA is a governmental agency that delivers the bulk of Official Development Assistance for the government of Japan. It is chartered with assisting economic and social growth in developing countries, and the promotion of international cooperation.

With offices in London and New York, EMGA helps financial institutions and corporations seeking new debt or equity capital, completing transactions on behalf of its clients within the world’s emerging markets and frontier economies, including Kazakhstan which remains a key market.

-- BERNAMA

GRADIANT LAUNCHES CURE CHEMICALS FOR THE WORLD'S ESSENTIAL INDUSTRIES

Comprehensive portfolio of over 300 proprietary chemical formulations with on-site expertise and world-class service enhances efficiency and sustainability while maximizing cost savings


BOSTON, April 17 (Bernama-BUSINESS WIRE) -- Gradiant, a global solutions provider for advanced water and wastewater treatment, announced today the launch of CURE Chemicals. Continuing Gradiant’s track record of innovation and commercialization, CURE Chemicals will set new benchmarks in environmental sustainability and operational efficiency for the world’s essential industries.

The CURE Chemicals product line includes over 300 proprietary formulations for corrosion and scale inhibitors, process chemicals, biocides, antiscalants & cleaners, and coagulants & flocculants. These products are engineered to enhance the effectiveness and efficiency of water treatment processes while minimizing their environmental footprint.

"The launch of CURE Chemicals represents a major milestone for Gradiant as we expand our portfolio to include specialty chemicals that complement our end-to-end water solutions capabilities," said Prakash Govindan, COO of Gradiant. "We are now the water industry’s only complete, site-wide portfolio providing bespoke design, proprietary equipment, O&M services, and specialty chemicals uniquely positioned to deliver whole-system expertise complemented by SmartOps AI for accurate, intelligent operation.”

CURE is developed via cutting-edge research combined with operational feedback tailored to meet the demanding requirements of industries ranging from semiconductors to renewables, mining to energy, and food & beverage to pharmaceuticals. "We are excited to bring these chemical solutions to the global market, which not only perform better than incumbents but also adhere to the highest standards of safety and sustainability, all at compelling value to our clients," said Vipan Kalia, Head of Chemicals at Gradiant.

For more information on how CURE Chemicals can benefit your operations, please visit gradiant.com/solutions/cure-chemicals.

About Gradiant
Gradiant is a global solutions provider for advanced water and wastewater treatment. With a full suite of differentiated and proprietary end-to-end solutions, powered by the top minds in water, the company serves its clients' mission-critical operations in the world's essential industries, including semiconductors, pharmaceuticals, food & beverage, lithium and critical minerals, and renewable energy. Gradiant’s innovative solutions reduce water used and wastewater discharged, reclaim valuable resources, and renew wastewater into freshwater. The Boston-headquartered company was founded at MIT and has over 1,000 employees worldwide. Learn more at gradiant.com.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240416877381/en/

Contact

Corporate Contact
Felix Wang
Gradiant
Global Head of Marketing
fwang@gradiant.com

Source : Gradiant

SINGLESTORE TO REVOLUTIONISE REAL-TIME, AI SOLUTIONS IN KOREA VIA AGILE PLATFORM PARTNERSHIP

KUALA LUMPUR, April 16 (Bernama) -- SingleStore has announced an exclusive partnership with Agile Platform to bring real-time, artificial intelligence (AI)-driven solutions to the Korean market.

SingleStore's real-time data platform is designed for growing businesses dealing with modern applications, analytics, as well as AI — and its next-generation technology has been gaining significant traction in the Asia Pacific (APAC) region.

“With our strategic alliance with Agile Platform, it is an unparalleled opportunity to empower digital-native and cloud-forward Korean companies to accelerate genAI adoption, build AI-fronted applications, and enhance analytical capabilities,” said SingleStore General Manager of APJ, Sanjay Aurora in a statement.

Meanwhile, Agile Platform Chief Executive Officer, JeongHee Han said: “With our deep understanding of the Korean market and extensive adjacent network, we believe we are the perfect partner to support SingleStore's expansion in APAC and bring its technology to even more Korean businesses.

“This collaboration will enhance the data platform’s market presence but also offer Korean businesses access to a powerful, scalable solution that can effectively handle their growing data requirements,” he added.

Agile Platform is a data-specialised firm that offers various consulting services including those related to SingleStore to enable real-time processing, analysis, and visualisation based on data, both on-premises and in cloud environments.

Actively dedicated to exploring and expanding its presence in the Korean market, leveraging SingleStore, over the past five years, Agile Platform has been recognised for its expertise and technical proficiency via collaborations with various clients.

Having cemented a strong presence in Korea, SingleStore is proud to have leading companies including Kakao, POSCO, LG Innotek, K Bank, Kiwoon Securities, and SK Telecom as customers which have adopted the company's comprehensive data platform for a variety of use cases.

-- BERNAMA

Nike Debuts New Products Line-up Signalling Multi-year Innovation Cycle

KUALA LUMPUR, April 15 (Bernama) -- NIKE Inc has extended its position as the undisputed leader of footwear and apparel innovation by debuting a new line-up of products that signalled a multi-year innovation cycle. 

According to a statement, the company is delivering better, faster, more efficient solutions for athletes this summer and opening a world of creative possibilities including Nike's first sculpted, visible Air Zoom unit in the new Pegasus Premium running shoe.

“For more than 50 years we have listened to and over-delivered for our athletes with the best of Nike innovation. We always push the boundaries of what is possible and take risks to help create the future of sport together.

“This summer, the difference maker is the massive energy return that Nike Air delivers to athletes. Taking what we learned from our super-shoe technology, we are introducing new Nike Air Zoom shapes and sensations across all sports,” said Nike Chief Innovation Officer, John Hoke.

The proprietary, sculpted Air unit connects the heel and forefoot and uniquely contours to the natural profile of the foot, delivering an entirely new springy, smooth sensation. Combined with ZoomX and ReactX foam, the new cushioning system creates more energy return for everyday runners.

In addition, Air, Nike’s most revolutionary, ubiquitous and versatile cushioning platform, powers the products Nike athletes will wear on the track, court and pitch this summer.

Nike has optimised Air by leveraging computational design and incomparable athlete data from the Nike Sport Research Lab to create footwear that helps all athletes break barriers.

The best of Nike’s Air innovation for this summer will debut in the Nike Blueprint Pack, spanning footwear for track and road racing, basketball, football, skate, breakdancing and lifestyle.

The company has also revealed A.I.R. — Athlete Imagined Revolution, whereby in this co-creation project between elite athletes and Nike designers, Nike used innovative design tools to create the future of Air.

-- BERNAMA

18th Guizhou Tourism Industry Development Conference Opens New Avenues

KUALA LUMPUR, April 15 (Bernama) -- The 18th Guizhou Tourism Industry Development Conference kicked off in Xingyi city, Southwest China's Guizhou province, on the basis of "simplicity, delicacy, thoughtfulness and safety", on April 11.

Hosted by the People's Government of Guizhou Province, the Guizhou Tourism Industry Development Conference has been held annually since 2006, aimed to accelerate the development of Guizhou's tourism industry and cultivate it into a pillar industry.

Themed "Promoting Deep Integration of Culture and Tourism and Building a World-class Tourist Destination", the conference has been successfully held for 17 sessions, in rotation by all cities and prefectures in Guizhou.

The tourism resources in this region are mainly composed of mountain landscapes, ethnic cultures and historical relics, according to the People's Government of Guizhou Province in a statement.

In recent years, Qianxinan Prefecture has promoted Health Tourism by combining the original mountain tourism resources. Numerous health tourism projects and top quality tourism routes have been launched to attract healthy lifestyle-seeking tourists.

Qianxinan Bouyei and Miao Autonomous Prefecture is located in the southwest of Guizhou Province, China, with excellent transportation infrastructure and is famous for its well-preserved and unique natural scenery and rich ethnic cultures.

With typical karst landform, famous scenic spots include Maling River Canyon and Wanfeng Forest in Xingyi, Wanfeng Lake, and Guizhou Longhua Stone Group in addition to "Eight-Note Seated Singing" which is a type of Bouyei ethnic group's talking and singing folk art.

-- BERNAMA

I Squared Capital Partners Japanese Investors To Fast-track India’s Energy Transition

KUALA LUMPUR, April 15 (Bernama) -- I Squared Capital, an independent global infrastructure investor, announced a consortium of Japanese investors will become strategic minority shareholders in the Natural Gas Transition Platform (the Platform), a Singapore-based holding company with investments in Indian city gas distribution networks.

According to I Squared Capital in a statement, the transaction will diversify the Platform’s shareholder base and bring in additional long-term capital from the consortium members.

“We are very pleased to attract these long-term and experienced partners to our growing energy Platform. The additional capital provided will be used to support the energy transition in India through the expansion of last-mile city gas distribution infrastructure.

“We regard natural gas as a transitional energy source that will play an important role in global decarbonisation, substituting for more polluting fuels such as diesel and coal, while at the same time supporting India’s urbanisation and industrialisation with stable and affordable energy,” said I Squared Capital Senior Partner, APAC, Harsh Agrawal.

The Platform has active investments in last-mile city gas distribution businesses, including THINK Gas and AG&P Pratham. Together, these companies are developing city gas infrastructure across 19 geographical areas covering 325,000 square kilometres and serving over 85 million people.

Through the use of new infrastructure developed over the last four years, including over 9,000 kilometres of low-pressure gas pipelines, 30 Liquefied Compressed Natural Gas (LCNG) and compressed gas stations and over 430 CNG stations, the Platform will serve millions of vehicles per day and thousands of commercial and industrial users by 2030.

In addition to gas distribution, the Platform will increase investments to boost the consumption of renewable natural gas (biogas) in India, as it is already one of the largest procurers of the country’s biogas and aims to procure about five million tonnes over the next 25 years.

This will support the Indian government’s vision to increase the consumption of biogas, generate employment at the local level, and reduce pollution from crop burning, in addition  to also looking to increase the use of green hydrogen using the city gas network.

In the future, the Platform will continue to introduce global best practices, industry-leading technology and best-in-class social and governance practices across the natural gas value chain in India.

-- BERNAMA

AMOGY JOINS FORCES WITH THE MARITIME AND PORT AUTHORITY OF SINGAPORE AND PARTNERS TO ESTABLISH FUTURE FUELS TRAINING HUB FOR MARITIME WORKFORCE

SINGAPORE, April 15 (Bernama-BUSINESS WIRE) -- Amogy, a provider of mature, scalable, and efficient ammonia-to-power solutions, on the Opening Day of Singapore Maritime Week 2024 has signed a Letter of Intent (LOI) with the Maritime and Port Authority of Singapore (MPA) and other collaborators to develop a Maritime Energy Training Facility (METF) to train maritime professionals in operating ships powered by alternative fuel systems.

The LOI to establish the METF was signed by the MPA and 22 partners, including international organizations, engine makers, classification societies, trade associations, unions, and institutes of higher learning. The establishment of a training facility follows a recommendation put forth by the Tripartite Advisory Panel, formed in early 2023. This panel aims to identify emerging and future skills and competencies needed to build the maritime workforce of the future.

The METF will be a decentralized facility based in Singapore, utilizing the various partners’ assets and training technologies to train global seafarers in the use, manning, and operation of vessels powered by zero or near-zero emission technologies.

With hundreds of crew changes conducted daily in Singapore, the METF's establishment is strategically positioned to support vessel operators and ship management companies with their crew training needs as part of their crew change arrangements. This approach is expected to result in significant time and training cost savings for the shipping community by utilizing the METF's training facilities. When fully operational, the METF is anticipated to benefit around 10,000 maritime personnel, including seafarers, from now to the 2030s.

“We are thrilled to embark on this exciting and important project in partnership with the Maritime and Port Authority of Singapore and other esteemed collaborators,” says Seonghoon Woo, CEO at Amogy. “This initiative showcases Singapore's leadership in driving sustainable maritime solutions and underscores our commitment to advancing ammonia as a clean energy source for maritime shipping and equipping the global maritime workforce with the necessary skills to navigate the future of shipping.”

To learn more about Amogy and its clean energy technology, please visit www.amogy.co.

About Amogy

Amogy provides carbon-free energy solutions to decarbonize hard-to-abate sectors such as maritime, power generation, and heavy industry. Proven in real-world applications, its patented ammonia cracking technology is mature, scalable and a highly efficient method for splitting liquid ammonia, generating electrical power in combination with hydrogen fuel cells at five times the energy density of lithium batteries.

Amogy is headquartered in Brooklyn, New York, with additional locations including Houston, Texas, Norway, and Singapore. Amogy is backed by investors including Amazon’s Climate Pledge Fund, Temasek, SK Innovation, Aramco Ventures, Mitsubishi Corporation and AP Ventures. For more information, follow Amogy on LinkedIn, X, Instagram, Threads, Facebook, and YouTube, or visit www.amogy.co.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240414752830/en/

Contact

Media
amogy@famapr.com

Source : Amogy

MONEYHERO GROUP HOSTS SINGAPORE'S LARGEST PERSONAL FINANCE FESTIVAL FOR SEVENTH STRAIGHT YEAR

The iconic annual event, which was held on April 6^th and is produced by Seedly, the Company’s market-leading platform in Singapore, drew over 5,000 attendees

Featured speakers included: Dr. Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry; Mr. Nelson Neo, Head of Financial Planning Advisory & Head of POSB, DBS Bank; and nearly 70 other notable names from across Singapore’s financial, insurance, and government landscapes

MoneyHero partnered with 35-plus major banking institutions and insurance providers in Singapore for the 2024 Festival—including CIMB Bank, Citibank, DBS Bank, Manulife, POSB Bank and Singlife

SINGAPORE, April 12 (Bernama-GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a market leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, today announced the successful completion of the Company’s seventh annual Seedly Personal Finance Festival (“PFF” or the “Festival”).

Held this past week on April 6^th at the Marina Bay Sands Expo and Convention Center, the 2024 PFF was once again a rousing success, demonstrating the continued growth and influence of the largest event of its kind in Singapore. The annual Festival, which held its first event in 2018, is produced by Seedly, MoneyHero’s market-leading platform that builds the largest personal finance community in Singapore. Impressively, the 2024 PFF gathered more than 5,000 attendees, with 70 business, financial, and government leaders speaking, and 35-plus prestigious finance and insurance organizations serving as sponsors.

During the event, Seedly also launched a new app – ShopHero by Seedly, the Ultimate Shopping Companion, where users can get instant alerts for discounts, personalise deals and maximise rewards with best-fit credit cards. 

http://mrem.bernama.com/viewsm.php?idm=48357

China's First Batch Of Imported Washed Feather And Down Cleared Customs In Guangxi

 

Guigang Customs staff are inspecting the goods.

KUALA LUMPUR, April 12 (Bernama) -- A shipment of approximately 18.5 tonnes of washed white duck feathers imported by Jialu Feather Products Co Ltd through Qinzhou Port passed customs inspection smoothly after joint supervision by Qinzhou Port Customs and Guigang Customs on March 28.

This shipment marked the successful implementation of the General Administration of Customs' pilot reform of imported washed feather and down customs clearance supervision in Guigang, Guangxi Zhuang Autonomous Region.

"The goods were shipped from overseas to Guigang and cleared customs in just eight days. This new model is 17 days faster than the traditional customs clearance via Hong Kong, significantly reducing time and economic costs!" said the company’s General Manager in Guigang, Yang Chaodong.

Meanwhile, Secretary of the Gangnan District Committee of Guigang City, Tao Jianquan introduced that the down industry is a traditional advantageous industry in the Gangnan District of Guigang.

There are currently 170 feather and down processing enterprises, processing approximately 90,000 tonnes of feathers and down per year, accounting for about 28 per cent of China's total feather and down processing volume and 18 per cent of the world's total.

In recent years, Guigang has seized the opportunities of the construction of the Western Land-Sea Corridor, implemented a three-year action plan for industrial transformation and upgrading, in a bid to optimise the business environment and promote the upgrading of the down industry.

As a result, a complete industry chain from primary feather sorting and processing to washed feather and down processing and down product processing has taken shape.

In 2023, the total output value of the down industry in the Gangnan District of Guigang reached 4.7 billion Chinese yuan, according to the Publicity Department of Gangnan District in a statement. (100 Chinese yuan = RM65.90)

However, about 40 per cent of the raw materials need to be imported from abroad, with an annual import demand of 30,000 to 50,000 tonnes.

In order to support the upgrading and development of the down industry in Guangxi, the General Administration of Customs recently issued a pilot reform plan for imported washed feather and down customs clearance supervision, aiming to leverage the supervision resource advantages of Qinzhou Port, Guigang Port, and local customs to optimise the customs clearance supervision operation mode for imported washed feather and down.

-- BERNAMA