TOSHIBA RELEASES AUTOMOTIVE PHOTORELAY WITH OUTPUT WITHSTAND VOLTAGE OF 900V

 

Toshiba: TLX9152M, an automotive photorelay for 400V automotive battery systems. (Graphic: Business Wire)

- New device is suitable for 400V automotive battery systems - 

KAWASAKI, Japan, Aug 29 (Bernama-BUSINESS WIRE) -- Toshiba Electronic Devices & Storage Corporation ("Toshiba") has launched “TLX9152M,” an automotive photorelay^[1] with an output withstand voltage of 900V(min) that is highly suitable for application in high voltage automotive batteries. The new photorelay is housed in an SO16L-T package. Volume shipments start today.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240828499285/en/ 

Improved charge times and a longer cruising range are essential for wider adoption of electric vehicles, and both require more efficient operation of battery systems. Battery management systems (BMS) realize efficient system operation by monitoring the battery charge status, plus the insulation between the battery and the vehicle body that is essential for the safe use of high-voltage batteries. In BMS that must handle high voltages, electrically insulated photorelays are used.

Photorelays commonly used in battery systems must have a withstand voltage of approximately twice the system voltage. Given this, an output withstand voltage of over 800V is necessary for a 400V system. Toshiba’s new product is suitable for 400V systems as it has an output withstand voltage / supply voltage of 900V.

TLX9152M is housed in an SO16L-T package, widely used for high-voltage photorelays including Toshiba’s TLX9160T, which has an output withstand voltage of 1500V. Use of this package facilitates common circuit board pattern design.

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NIPPON KINZOKU'S STAINLESS STEEL WIDE WIDTH FOIL (BS/WS FINISH)

TOKYO, Aug 30 (Bernama-BUSINESS WIRE) -- NIPPON KINZOKU CO., LTD. (TOKYO: 5491) (Headquarters: Minato-ku, Tokyo) produces stainless steel foil by our proprietary technology for the automotive, battery, semiconductor and other markets. Our stainless steel foil features high precision, wide width and large unit weight, contributing to customers' productivity improvement, yield improvement and process reduction. In addition, we offer two types of finishes, "BS: Bright Surface" and "WS: White Surface," to meet the needs for surface design and functionality.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20240829255660/en/

 

NIPPON KINZOKU's Stainless Steel Wide Width Foil
 

Steel grade:	All steel grades (SUS304, SUS301, SUS430, etc.)
Finish:	Spring finish, TA finish (Tension Annealing), BA finish (Bright Annealing)
Features:	1. Wide Width: Max. 600mm
	2. High Precision: Min. longitudinal variation of thickness ±1μm
	3. Surface: Bright Surface (BS), White Surface (WS)
	4. Unit weight: Max. 0.5kg/mm
	5. Min. thickness: 0.02mm

Applications

One of the features of our stainless steel foils is that we produce wide width foil.
Applications include surface heating elements used in automobiles, FPC reinforcement plates, and metal masks used in electronic devices, and are used as composite materials with films etc. attached. In particular, there are few material manufacturers that produce materials with thickness of less than 30 μm and a width of nearly 600 mm, contributing to improved processing yields and productivity.

Surface texture

We meet various requirements for surface texture depending on the application.
In tact switch applications, there is concern about cracking due to minute surface irregularities during repeated use. In such cases, we recommend a Bright surface (BS finish) with a smooth surface, which contributes to improved durability.
For the exterior of rechargeable batteries and connectors, on the contrary, we recommend a rougher White surface (WS finish), which contributes to improved adhesion with adhesives (exterior of rechargeable batteries) and visibility of laser engraving on the product surface (connectors).

About NIPPON KINZOKU Group

Our products have been used in a range of areas from the precision field to the construction industry. https://www.nipponkinzoku.co.jp/en/ 

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TRACKUNIT'S OPERATING DATA PLATFORM IRISX KEEPS CUSTOMERS AT DIGITISATION FOREFRONT

KUALA LUMPUR, Aug 30 (Bernama) -- Global contech Trackunit has launched its Operating Data Platform IrisX tailored specifically to the off-highway segment of the construction industry.

The new platform effectively breaks new ground by building on the tried-and-tested Iris platform allowing customers to leverage generative artificial intelligence and large language models in a dynamic and evolving, open environment.

Trackunit Chief Executive Officer, Søren Brogaard said it was Gartner that predicted the rise of Industry Cloud Platforms (ICPs) in a report in the fall of 2023, highlighting that more than 70 per cent of enterprises will use ICPs by 2027.

“IrisX is in essence an ICP for off-highway construction, and will exponentially transform productivity and speed to market. This is a purpose built platform that connects, streamlines and empowers data from the back office to the frontlines that takes its place within a wider Cloud and IT architecture,” he said.

In a statement, Brogaard also stated that IrisX is designed to help companies overcome the significant challenges of digital transformation, such as high upfront investment and the scarcity of tech talent.

“By offering a platform that coexists and integrates with existing tools, we ensure faster time to value and impact, making it easier for companies to scale their digital investments.

“With an accelerated time to value and at fractional cost, IrisX is developer friendly and will facilitate the combination of telematics data, operational data and commercial data in one secure and scalable platform with stronger cyber security while also guaranteeing privacy over data,” he added.

IrisX will also enable users to integrate equipment, fleet and site insights across their tech stack, knowing compliance and cyber security concerns are covered via privacy and governance protocols embedded through the ISO 27001 certification.

As a result of Trackunit's year-long efforts to harmonise and clean telematics and operational data in a well structured data lake, Brogaard emphasised that customers can be absolutely confident that they only share the data they want to share when they are ready to do so.

“Customers will also be able to use software development kits to build apps and extensions specifically tailored to their customer base, not only enhancing the service offering but extending the power of their telematics data, proprietary data, and third-party data,” he explained.

Looking ahead, Brogaard shared that IrisX will continue to evolve and develop dynamically for its customers that are already on board and will have a headstart on all the truly exciting developments that will unfold as the platform becomes ever more sophisticated.

-- BERNAMA

DALI ALLIANCE LIGHTING AWARDS OPENS WITH NEW CATEGORIES FOR 2024

LONDON, Aug 28 (Bernama-GLOBE NEWSWIRE) -- DALI Alliance, the global industry organization for DALI, the internationally-standardized protocol for digital communication between lighting control devices, announces that the annual DALI Lighting Awards are officially open for 2024 with a number of new categories.

The traditional application categories have been consolidated to five awards: Residential, Commercial Interior, Commercial Exterior, Industrial & Infrastructure, and Horticulture. This year’s Awards will also include the following innovation categories:

• Best Use of D4i: Recognizing innovative applications of DALI D4i technology, including enhanced data communication, energy management, and advanced control capabilities.
• Best Emergency Lighting Integration: Celebrating solutions that incorporate emergency lighting, ensuring safety, reliability, and compliance with standards during emergencies.
• Best Human Centric Design: Honoring projects that prioritize human well-being in health, comfort, and productivity through lighting.
• Best Integration into Other Building Systems Highlighting projects that excel in integrating lighting data with other building systems, such as HVAC, security, and energy management.
• Innovation in Lighting: Recognizing cutting-edge technologies and advancements in lighting control solutions.
• Sustainability and Energy Efficiency: Highlighting projects that excel in sustainability, conservation, and environmental impact.
• Smart and Connected Lighting: Honoring advancements in smart lighting systems, IoT integration, and connected lighting solutions.
• Non-networked Lighting:  Celebrating innovative applications in small or stand-alone spaces.

These new categories align with the growth of technologies, advancements, and innovations that are being adopted by the lighting sector. 

This year’s submissions will no longer be submitted to a specific category. Entries will be placed by judges into applicable categories, allowing the possibility of a single project to win multiple awards.

Paul Drosihn, general manager of DALI Alliance, said: “We are very excited to launch this year’s DALI Lighting Awards with a refreshed approach. We are confident these changes will make it more straightforward for those across the lighting industry to enter, and gain recognition for their work.”

The awards entry deadline is 7 October 2024.

For more information and to enter the awards, visit https://www.dali-alliance.org/awards2024/.

About the DALI Alliance

The DALI Alliance is an open, global consortium of lighting companies that aims to grow the market for lighting-control solutions based on Digital Addressable Lighting Interface (DALI) technology. The DALI Alliance promotes the adoption of DALI-2, D4i, and DALI+ certification programs and supports the use of open, interoperable lighting control systems. 

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SOUTHEAST ASIA'S DYNAMIC PRIVATE EQUITY POISED TO YIELD SUBSTANTIAL RETURNS - ANALYSIS

KUALA LUMPUR, Aug 28 (Bernama) -- An in-depth analysis spotlighting the dynamic private equity opportunities in Southeast Asia, with a particular focus on Vietnam, Thailand, and the Philippines has been released by Plocamium Holdings, a premier investment and financial services firm.

This research underscores the region's potential as a pivotal area for strategic investments driven by robust economic expansion, favourable governmental frameworks, and emerging market trends.

Plocamium Holdings Research Director, Lily Raaka said private equity activity in Southeast Asia is not only flourishing but also evolving rapidly.

“Our findings indicate that Vietnam, Thailand, and the Philippines are poised to offer substantial returns, with each market presenting unique opportunities tailored to specific investment strategies,” she said in a statement.

The analysis revealed that Vietnam emerged as a top contender for private equity investments, particularly in the manufacturing and healthcare sectors, with the country’s strategic economic initiatives, such as 2013 Comprehensive Partnership with the United States and membership in the World Trade Organization, having significantly enhanced its appeal to foreign investors.

Despite political challenges, the Thai market's liquidity and the prevalence of family-owned businesses create unique entry points for investors, as Thailand presents compelling opportunities for middle-market private equity firms, especially in biotechnology and information technology.

Meanwhile, the Philippines is fast becoming a hub for digital startups, driven by government support via initiatives like the Philippine Roadmap for Digital Startups. The country’s growing pool of young professionals and government-backed incentives provide a fertile ground for investments in the technology and agriculture sectors.

Based in New York, Plocamium Holdings leverages decades of expertise in partnering with private equity sponsors and entrepreneurs, focusing on unlocking growth and driving long-term success.

-- BERNAMA

Mavenir, Whitestack Broaden Open Network Functions Ecosystem

KUALA LUMPUR, Aug 28 (Bernama) -- Mavenir, the cloud-native network infrastructure provider, and Whitestack, an open source-based developer of Telco Cloud solutions, announced the successful completion of a technology alignment that enables Mavenir’s Cloud-Native IMS solution to be seamlessly integrated into Whitestack’s Telco Cloud platform.

Initiated as part of a deployment with a leading Tier 1 operator in Latin America, the collaboration harnesses the power and performance capabilities of the Intel Xeon processor and Intel Ethernet technology.

Mavenir Senior Vice President and General Manager of Cloud, AI & IMS Business Strategy, Brandon Larson said as the industry moves towards cloud infrastructure, cloud solutions must be adapted to be suitable for telco workloads and in order to accomplish this, it takes companies like Mavenir that have developed a specialised skillset in both cloud and telco.

“We are very pleased to have completed the integration process in a reasonable timeframe, thanks in part to our experience with other Telco Clouds and Whitestack's flexibility in adjusting their data plane configuration to maximise our performance,” he said in a statement.

Meanwhile, Whitestack Business Development Manager, Telco/NFV, José Miguel Guzmán said: “One of the many key aspects of a Telco Cloud, compared to a regular private cloud, is the ability to utilise advanced techniques for accelerating network function performance.”

The announcement marks the achievement of full integration with Whitestack's Telco Cloud solution, offering telco operators a wider array of flexible options for deploying Mavenir's solutions and underscores the continued expansion of the telecom ecosystem aimed at liberating operators from legacy or monolithic solutions.

The two companies are capitalising on industry momentum, following significant announcements from operators adopting cloud infrastructure for critical network functions, in which this trend is generating substantial interest from traditional operators.

To meet this clear demand, Mavenir and Whitestack are offering a compelling performance-to-cost ratio, making the transition to cloud solutions an easy decision.

Mavenir's Cloud-Native IMS solution is based on a microservices architecture comprising Containerized Network Functions (CNFs) that adopt cloud-native principles, offering voice services that leverage the intrinsic benefits of Kubernetes to ensure high availability. This solution operates on Whitestack's Telco Cloud platform under an automated deployment model.

Separately, Mavenir, Whitestack and Intel will be participating at the Open Telco Cloud Summit 2024 in Mexico City on Sept 3.

-- BERNAMA

Dongfeng Motor Commits To Localisation, Customer Service In ASEAN

 

_{Dongfeng Conducted Pre-sales Training and Customer Delivery Ceremony in ASEAN Market (Photo: Business Wire)}

KUALA LUMPUR, Aug 23 (Bernama) -- China Dongfeng Motor announced it has actively promoted its ASEAN marketing strategy, focusing on localisation and customer service, as the region is a key market area for its overseas business.

Dongfeng has increased the launch of new products in Vietnam, Myanmar and Cambodia, strengthened customer service, actively promoted localised marketing, and firmly implemented the international development strategy.

With its strong automobile manufacturing strength and long-standing industry experience, the automaker is committed to jointly developing a mutually beneficial and win-win future with its partners, according to a statement.

In the Vietnamese market, Dongfeng Commercial Vehicles and its partners build a full value chain cooperation system, including product research and development, sales training, marketing and after-sales service.

Dongfeng successfully held the launch conference of the DONGFENG GX tractor in Vietnam, and participated in the whole process of pre-sales and after-sales of the product, which promoted the growth of brand volume, in May.

In Myanmar, Dongfeng Commercial Vehicles has increased customer loyalty through free maintenance activities, whereas in Indonesia, Dongfeng Motor places great emphasis on local characteristics, offering customers a high-quality experience through professional exhibitions and test drives.

Meanwhile, in Cambodia, it strengthened the user experience and product reputation through the launch events of new cars.

At the upcoming 21st China-ASEAN Expo, the automaker will showcase 10 representative models and nearly 100 products across four categories, including agricultural machinery and spare parts; present a unified group image; strengthen cooperation and exchanges with potential partners of ASEAN countries; and promote international development.

Dongfeng Motor will always take customer demand as the guide, deepen localisation development, fully implement the concept of "customer first" in product innovation, marketing strategy, channel expansion and service upgrade, and achieve sustained growth in global business.

-- BERNAMA

IMPROVED SAFETY AND CONVENIENCE - NABLA WORKS CORP. LAUNCHES "FACE RECOGNITION ACCESS SOLUTION".

Nabla Works Corp., which aims to provide IT technology-based convenience and efficiency to various industries through AI, has launched Face Recognition Access Solution utilizing advanced image recognition technology.

TOKYO, Aug 22 (Bernama-BUSINESS WIRE) -- Nabla Works' Face Recognition Access Solutions can be used in a variety of situations, such as employee access control, attendance control, and facility reception. In addition to improving security through highly accurate face recognition, it also improves convenience for administrators and users by eliminating the need to carry IC cards or smartphones for authentication.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20240807832873/en/

 

Face Recognition Device

Face recognition device offering the world's highest level of face recognition functionality, with an authentication speed of 0.3 seconds or less and an authentication accuracy of 99% or higher. The built-in biometric detection function prevents spoofing using video or images and provides speedy and secure access control.
An SDK optimized specifically for this device is also provided. External system integration and UI development are also easy.

Management Software

Face recognition access management software for use with the above face recognition devices. The visually intuitive UI, including a dashboard function, enables management of devices, user privileges, and authentication history.
Can be implemented in either on-premises or cloud environments. We also provide API and push notification functions that can be linked to existing management systems and services.

Future Outlook

The company plans to sequentially roll out SDKs for face recognition server software/clients, face recognition camera module terminals, and face recognition reception terminals.

Partner Opportunities

Nabla Works is actively seeking distributor partners who are familiar with the local market and who can work with us to sell, implement, and provide after-sales support for Nabla Works' solutions in each region.
Please feel free to contact us for more information.

* Examples of partners

• Companies that provide solutions for the office, retail, and hospitality industries
• Companies that provide security-related solutions such as access control systems, electric locks, CCTV, etc.
• Companies that provide building and construction (electrical and telecommunications) related services
• Companies that provide installation and support services for electronic equipment

Company Overview

Company Name: Nabla Works Corp.
Representative: Masayuki Motoshima
Established: January 2024
Business Activities: Development and sales of AI software and hardware
URL: https://www.nablaworks.co.jp/en 

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BRISCOE GROUP PARTNERS WITH IMPACT ANALYTICS TO POWER DATA-DRIVEN RETAIL OPERATIONS

90-Store New Zealand-Based Home Goods and Sporting Goods Retailer Will Use the AI-Merchandising & Supply Chain Platform to Enhance Forecasting, Inventory Management and More


NEW YORK, Aug 22 (Bernama-GLOBE NEWSWIRE) -- Impact Analytics™, the pioneer in AI-powered planning, merchandising and pricing solutions, today announced it has partnered with Briscoe Group, a leading retail conglomerate in New Zealand which operates Briscoes Homewares and Rebel Sport. Under the terms of the partnership, Briscoe Group will implement the Impact Analytics AI-Merchandising & Supply Chain platform, including PlanSmart, AssortSmart, InventorySmart, and AttributeSmart, to make data-driven decisions, improve forecasting accuracy, enhance inventory management, and ultimately deliver a superior customer experience.

“After thoroughly evaluating opportunities to integrate advanced AI capabilities into our operations, we selected Impact Analytics for their exceptional retail-focused platform and team of seasoned experts,” said Andrew Scott, COO of Briscoe Group. “The platform's ability to deliver rapid value through dynamic module interaction and sophisticated AI forecasting will future-proof our business, ensuring we remain at the cutting edge of retail innovation."

"We are proud to partner with Briscoe Group on this incredible business transformation,” said Prashant Agrawal, CEO of Impact Analytics. “The Briscoe group team's dedication to retail excellence and innovation is truly inspiring. We are confident that our AI-powered platform will enable them to achieve their strategic goals and drive sustainable growth."

The Impact Analytics PlanSmart module is designed to help retailers optimize merchandise financial planning and manage open-to-buy budgets effectively. It leverages AI-driven forecasting to enhance the accuracy of financial plans, ensures better alignment with demand and inventory needs, and helps retailers make data-driven decisions to improve profitability and reduce the risk of overstock or stockouts​.

AssortSmart is an AI-powered assortment planning software that enables leading retail companies like Briscoe to create customer-centric, profitable, and localized assortments across multiple locations. By analyzing vast amounts of data and using advanced algorithms, it helps retailers make informed decisions to maximize sales, minimize markdowns, and enhance overall profitability.

InventorySmart is an AI-powered forecasting engine that enables retailers to accurately predict inventory needs and drive profitability by reducing overstocks and optimizing assortments and distribution. By considering over 200 variables, InventorySmart provides decision-makers with a comprehensive understanding of demand, ensuring well-informed inventory management and strategic planning.

AttributeSmart is an AI-powered automated product tagging software that helps retailers improve product discoverability and merchandising. It uses computer vision and machine learning to automatically generate accurate product tags from various sources including images, text descriptions, and customer reviews.

About Briscoe Group

Briscoe Group is a leading retail conglomerate in New Zealand, operating 90 stores and two websites across the Briscoe Homewares and Rebel Sport brand. The company is committed to providing customers with quality products, exceptional service, and a seamless shopping experience.

ABOUT IMPACT ANALYTICS

Impact Analytics offers a holistic suite of AI-powered solutions to help brands future-proof their businesses using predictive analytics. The company has been pioneering and perfecting the use of AI in forecasting, planning and operations for nearly a decade, serving the retail, grocery, manufacturing and CPG industries. With tools for planning, forecasting, merchandising and pricing, Impact Analytics enables companies to make smart, data-based decisions rather than relying on last year’s figures to forecast and plan this year’s business. The company also offers tools to automate functions the industry has long managed manually by spreadsheet and to unify and streamline reporting, so executives can rely on a single source of truth when making decisions. Impact Analytics was founded and is led by Prashant Agrawal, a former senior consultant at McKinsey and Boston Consulting Group and current Adjunct Professor at Columbia University who teaches about the use of AI in retail.

To learn more, visit Impact Analytics.

Media Contact
For Impact Analytics:
Danielle Poggi
Berns Communications Group
dpoggi@bcg-pr.com

SOURCE : Impact Analytics

TELEDYNE FLIR FORGE 1GIGE SWIR CAMERA EXCELS IN VARIETY MACHINE VISION APPLICATIONS

KUALA LUMPUR, Aug 21 (Bernama) -- Teledyne FLIR IIS, a Teledyne Technologies company, has introduced the Forge 1GigE Short Wave Infrared (SWIR) 1.3 megapixel (MP) camera, the first in the series equipped with a wide-band and high-sensitivity Sony SenSWIR IMX990 InGaAs sensor.

Teledyne IIS General Manager, Sadiq Panjwani said the company is excited to introduce the Forge SWIR camera series to grow its imaging portfolio from the visible spectrum to SWIR wavelengths.

“The series expands on Teledyne’s SWIR line scan expertise to boost a range of 2D area scan applications such as industrial inspection, environmental monitoring, and recycling,” he said in a statement.

The advanced sensor captures images across both visible light and SWIR light spectrums (VisSWIR) with five micrometres (μm) pixels, providing an extended spectral range from 400 nanometre (nm) to 1700 nm.

This capability enhances anomaly detection and material analysis, making it ideal for applications such as industrial semiconductor inspection, food and beverage quality control, recycling, security surveillance, environmental monitoring, and precision farming, among others.

The new camera features a design that balances a compact size with superior image quality. Forge 1GigE SWIR includes advanced camera features such as Pixel Correction, Sequencer with Region of Interest (ROI), Logic Block, and Counter which provide reliable and precise control for a variety of complex applications.

All IIS cameras are supported by Teledyne software development kits (SDK) Spinnaker 4 and Sapera Processing and a powerful Trigger-to-Image Reliability (T2IR) framework.

This framework is a set of programmable functions within the Teledyne SDK that combine hardware and software features that work together at a system level to help improve the reliability and accuracy of inspection systems.

-- BERNAMA

XPENG ROLLS OUT XOS 5.2 OTA, ENHANCING GLOBAL USER EXPERIENCE

• XPENG launches its first major synchronized global OTA upgrade for eligible users across Europe, the Middle East, Southeast Asia, and other markets
• During the 28-day beta, global users engaged enthusiastically, and nearly a hundred feedback items were integrated into the final OTA update. Additionally, there's a plan to roll out at least four OTA updates in the forthcoming year.
• XPENG hosted its inaugural global user OTA salon in Denmark, focusing on customer feedback and advancing smart mobility on a worldwide scale

GUANGZHOU, China, Aug 20 (Bernama-GLOBE NEWSWIRE) -- XPENG Motors (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company has rolled out their latest Tianji XOS 5.2 Over-the-Air (OTA) upgrade worldwide on August 15, unveiling the Smart Cockpit and Intelligent Driving features. The state-of-the-art advancements are supercharged by AI technology, making XPENG’s OTA updates faster and more robust.

Designed to deliver a superior user experience, this OTA upgrade underscores the company's engagement to its customer-focused values. Alongside its European expansion, these enhancements typify the company's unique culture of innovation compared to traditional automakers. Users are raving about XOS 5.2, and Marius from Norway, a beta tester, is particularly impressed. "I must say that the new software update is just amazing," he says. "One of the things I really like is the new split screen; it allows you to view the surrounding environment on one side, while also showing the car's current charging status."
 

XPENG Tianji XOS 5.2 OTA Asset Library 

He Xiaopeng, Chairman and CEO of XPENG, said, "We are proud to be the first emerging Chinese auto brand to conduct a public OTA beta test for our global users. The Tianji XOS 5.2 OTA showcases our world-leading smart driving and R&D capabilities. Positive feedback from users worldwide underscores the increasing role of smart experiences in the future of mobility. We are dedicated to listening to our users and consistently enhancing their experiences. We believe that only truly high-quality technological innovations enable global users more quickly and effectively enjoy the convenience and comfort that these innovations offer, driving society towards a more sustainable future."

In line with its latest strategies, XPENG organized an exclusive offline User Salon in Hillerød, Denmark. On August 13, the event drew together about 30 attendees for an interactive morning involving a showroom tour, followed by elaborate presentations about the OTA features and a dedicated Q&A session. The afternoon was punctuated by hands-on experiences, drawing high acclaim from the users.

The month-long beta testing brought considerable praise and actionable insights, culminating in XOS 5.2 addressing 82% of pertinent feedback from Danish customers with continued enhancements in the pipeline for future releases. XPENG is forging ahead, setting new paradigms for the intelligent electric vehicle industry globally, heralding an exciting new era for its owners.

“In Denmark we are deeply engaged with our customers and we have good processes in place to listen to them and take their feedback into consideration when developing our products. We truly believe that our future growth will happen with our customers as co-creators, and with this release we have proved it once again,” said Joachim Vishart Hummel-Gryholm, Head of Marketing for XPENG Denmark.

About XPENG

XPENG is a global smart electric vehicle company founded in 2014 in Guangzhou, China, developing clean, intuitive, and creative mobility solutions. With its industry-leading R&D facilities, XPENG brings vehicles with superior safety, electrical efficiency, and on-road performance to markets around the globe. The company is constantly working to advance its core technologies, including autonomous driving, SEPA 2.0 and captivating in-vehicle infotainment systems. XPENG is headquartered in Guangzhou and Amsterdam, with additional offices in Beijing, Shanghai and Silicon Valley. 

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SOLARMAX TECHNOLOGY EXPANDS US FOOTPRINT WITH NEW COMMERCIAL SOLAR PROJECT IN CALIFORNIA

RIVERSIDE, Calif., Aug 16 (Bernama-GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, signed a non-binding term sheet for a significant new commercial solar project in California. The project, a major mall in the San Jose area, represents another step forward in SolarMax' ongoing strategy to expand its solar development capabilities in the US commercial market.

The proposed California project is to include the development and management of a 4.17 megawatt (MW) photovoltaic solar power plant and a 2.0 MW energy storage system. As part of the project, SolarMax will also oversee the replacement of the mall’s roof to support the new solar infrastructure.

“A key component of our strategic growth plans is the expansion of our commercial solar development services in the US,” stated David Hsu, CEO of SolarMax. “By leveraging our experience in successful large-scale solar projects, we believe we are well-positioned to establish a major presence in the burgeoning US solar market, and completing this project would represent another important milestone on that journey.”

The Power Purchase Agreement (PPA) for this project will provide a long-term framework that supports the financing, ownership, and operation of the solar and energy storage system. SolarMax will seek a PPA investor to fund the project, offering both immediate and sustained value over the agreement's duration.

The project is subject to the negotiation and execution of a definitive agreement between the mall owner and SolarMax, SolarMax obtaining a financing source for the project and negotiating an agreement with the financing source, with the financing source owning the project when completed, and the negotiation of an agreement between the project owner and the mall owner with respect to the sale of the electricity generated by the project to the mall owner.

Solar energy is the fastest-growing source of renewable energy in the US, which is currently the second-largest PV market globally. The U.S. Energy Information Administration has forecasted that U.S. solar power generation will grow 75% from 163 billion kilowatt-hours (kWh) in 2023 to 286 billion kWh in 2025.

SolarMax is leveraging its proven large-scale solar project experience to seek to establish itself as a go-to provider for US commercial solar projects through the roll-out of comprehensive development services.

SolarMax’ commercial solar development offerings include advanced technology, customized solutions, and a client-centric approach to project management, with a goal of delivering projects on time and within budget.

About SolarMax Technology Inc.

SolarMax, based in California and founded in 2008, is a leader within the solar and renewable energy sector focused on making sustainable energy both accessible and affordable. SolarMax has established a strong presence in the California and began operations in China in 2016. SolarMax is looking to generate robust growth with strategic initiatives that aim to scale commercial solar development services and LED lighting solutions in the US while expanding its residential solar operations. For more information, visit www.solarmaxtech.com.

Any information contained on, or that can be accessed through, our website or any other website or any social media is not a part of this press release.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including but not limited to SolarMax’ ability to negotiate contracts with the mall owner and to identify and enter into a financing agreement with a financing source for the project and the ability of the financing source to enter into an agreement with the mall owner for the sale of the solar power generated by the solar system, SolarMax’ ability to be accepted as a provider of commercial solar systems in the United States, SolarMax’ ability to translate its experience in China, where it has not completed an installation since 2021, to the current United States market, and those described in “Cautionary Note on Forward-Looking Statements” “Item 1A. Risk Factors,” and “Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on April 16, 2024 and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s report on Form 10-Q for the quarter ended March 31, 2024, which was filed with the SEC on May 15, 2024. SolarMax undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect. 

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DECOUPLE CRITICAL MINERALS FROM CHINA COULD BE COSTLY, DELAY ENERGY TRANSITION - WOOD MACKENZIE

KUALA LUMPUR, Aug 15 (Bernama) -- As major global economies look to reposition critical minerals supply chains outside China, the resulting inefficiencies could increase the cost of finished goods and delay the energy transition, according to a new report by Wood Mackenzie.

The world cannot achieve decarbonisation without copper, a crucial component in electrification. Currently, China dominates copper mining, downstream processing (smelting and refining) and semi-manufacturing.

The report estimated that demand for copper is expected to rise by 75 per cent to 56 million tonnes (Mt) by 2050, necessitating substantial investment. Therefore, shifting away from China will require massive investments in new copper processing and fabrication facilities.

The Wood Mackenzie's August Horizons report, ‘Securing copper supply: no China, no energy transition’, states that replacing China’s smelting and refining capability alone to meet the rest of the world's demand would require nearly US$85 billion. (US$1=RM4.41)

In a statement, Wood Mackenzie research director, global mining, Nick Pickens said based on the company’s projections, there will be an additional 8.6 Mt of copper demand outside China over the next decade.

“This demand represents 70 per cent of smelter capability and 55 per cent of fabricator capacity in the rest of the world. As governments and manufacturers aim to diversify away from China, it is crucial to consider the entire supply chain, not just mining operations,” he said.

The report stated that since 2000, China has accounted for 75 per cent of global smelter capacity growth and currently controls 97 per cent of global smelting and refining capacity, contributing over three Mt of production and nearly US$25 billion in investment.

It also highlighted significant shifts in the global copper smelting landscape, with new facilities set to come online this year outside China.

India is launching a custom smelter, Indonesia is adding two integrated smelters, and a new smelter in the Democratic Republic of the Congo is expected to be completed by 2025, primarily driven by Chinese investment, will see these additions raising global smelting capacity by 1.6 Mt, according to Wood Mackenzie.

However, there are no plans for new primary smelting capacities in North America or Europe. Instead, the United States is focusing on the secondary market and scrap copper, including establishing its first secondary smelter for complex materials in Georgia.

-- BERNAMA

Guidepoint Hires Chris Bonsi As Head Of North Asia, Based In Tokyo

KUALA LUMPUR, Aug 13 (Bernama) -- Global information service company, Guidepoint has appointed Chris Bonsi as Head of North Asia and will be based in its Tokyo office.

With over 25 years of accomplished leadership in commercial and operational functions across Asia Pacific (APAC) and the United States, Bonsi brings to the role a wealth of experience driving and implementing growth strategies across Asia.

Guidepoint Director and Head of International, Jon Adkins in a statement said Bonsi's remarkable background and valuable expertise will undoubtedly add tremendous value as the company continues to expand its presence in APAC, a key growth market for Guidepoint.

Meanwhile, Bonsi said: “I am thrilled to embark on this critical role while working alongside Guidepoint’s distinguished executive team. I am eager to drive strategic advancements throughout the region and elevate our clients’ research experience to the next level.”

Bonsi’s strategic guidance will further fortify Guidepoint’s commitment in the region, which is to deliver exceptional client service and empower strategic decision-making for their clients.

He was most recently Chief Client Officer at Ipsos, a global leader in market research, where he led cross-functional teams to support several of the leading technology clients by introducing new innovations and solutions for their information and decision making needs.

Prior to that, Bonsi worked at Kantar for more than 14 years in various regional and country leadership roles in Singapore, Japan and Greater China.

Guidepoint is a research enablement platform designed to accelerate understanding and empower decision‑making through real-time access to data and hard-to-source knowledge.

-- BERNAMA

MENLO SECURITY, DSO NATIONAL LABORATORIES COLLABORATE TO BOOST SECURE BROWSER FEATURES

KUALA LUMPUR, Aug 14 (Bernama) -- Menlo Security, a leader in browser security, has announced a partnership with DSO National Laboratories, Singapore’s national defence research and development (R&D) organisation, to collaborate on secure web browsing capabilities to enhance national security.

Menlo Security Chief Executive Officer (CEO), Amir Ben-Efraim said the company has delivered the world's premier Secure Enterprise Browser, turning any browser, on any device, anywhere, into a military-grade Secure Enterprise Browser.

“Our partnership with DSO enables us to leverage their world-class R&D and deep expertise in cyberwarfare to further enhance our solution to enhance defenses against the most advanced browser-borne threats,” he said in a statement.

Meanwhile, DSO National Laboratories CEO, Cheong Chee Hoo said: “Menlo Security offers a unique approach to prevent phishing, ransomware and malware attacks launched via web browsers including zero-day and zero-hour attacks.

“We welcome the opportunity to collaborate with their team, share valuable insights, and work together to further strengthen browser security.”

The partnership entails expanded use of Menlo Security’s products across additional networks within DSO, technical support and training to maximise the value and efficacy of the product portfolio, collaboration on product enhancements and new capabilities for secure web browsing, as well as protection from advanced web threats.

As part of the partnership, DSO has implemented Menlo’s Secure Enterprise Browser solution as well as Menlo HEAT Shield and Data Loss Prevention solutions.

DSO will also have early access to products in Menlo Security’s product roadmap and will have the opportunity to share insights and feedback on new features, integrations, and enhancements.

-- BERNAMA

KIOXIA’S RAID OFFLOAD DATA PROTECTION TECHNOLOGY BAGS FMS ‘BEST OF SHOW’ AWARD

KUALA LUMPUR, Aug 8 (Bernama) -- Kioxia Corporation, a world leader in memory solutions, announced its RAID Offload on solid state drive (SSD) technology has received a Future of Memory and Storage (FMS) ‘Best of Show’ award in the ‘Most Innovative Technology’ SSD technology category.

According to Kioxia in a statement, these awards recognise the most significant products and companies worldwide within the memory and storage industries.

“We are honoured to recognise Kioxia’s groundbreaking RAID Offload data protection technology with a ‘Best of Show’ award.

“This is a standout achievement, reflecting not only Kioxia’s technological prowess but also their ability to address critical industry challenges with cutting-edge solutions,” said FMS Awards Program Chairman and Network Storage Advisors Inc President, Jay Kramer.

As compute and storage technologies evolve, data protection through RAID or Erasure Coding (EC) becomes increasingly demanding.

Moreover, traditional software and hardware RAID and erasure coding solutions struggle to keep pace with the rapid advancements in SSD performance, which increases with each new generation.

These issues highlight the need for innovative approaches to address data protection challenges faced by modern server and storage systems.

Kioxia’s SSDs with RAID Offload provide a standards-based, host-orchestrated scale out and sustainable solution to offload RAID parity compute.

This frees up valuable host central processing unit (CPU), memory and cache resources that can now be used to accelerate primary applications, hence significantly improve performance, reduce system cost, and increase power efficiency in server and storage systems.

-- BERNAMA

TECHTRONIC INDUSTRIES DELIVERS STRONG 2024 FIRST HALF RESULTS

Gross Margin Expanded to 39.9%, Net Profit Increased to US$550 Million

HONG KONG, Aug 7 (Bernama-BUSINESS WIRE) -- Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce the unaudited consolidated results of the Company and its subsidiaries for the six-month period ended June 30, 2024. TTI grew sales in the first half of 2024 to US$7.3 billion, up 6.3% in reported currency and 6.6% in local currency. MILWAUKEE delivered double-digit sales growth in local currency and RYOBI outperformed the market.

• TTI delivered strong first half results, growing sales 6.3% to US$7.3 billion and net profit 15.7% to US$550 million.
• Our Flagship MILWAUKEE business grew sales 11.2% in local currency, extending our leadership position as the #1 professional power tool brand worldwide.
• Gross margin improved 67 bps to 39.9% in the first half of 2024.
• We delivered record first half Free Cash Flow of US$508 million and improved gearing to 9.2%.
• Mr. Steven Philip Richman was appointed to the role of TTI Chief Executive Officer (CEO) on May 21, 2024. 

Gross margin improved 67 bps to 39.9% in the first half of 2024. We finished the first half of 2024 with US$4,027 million of inventory, a reduction of US$71 million from year end 2023 and US$554 million compared to the first half of last year. We delivered US$626 million of EBIT in the first half, growing 11.8% over the comparable period in 2023. EBIT Margin as a percentage of sales was 8.6%, an increase of 42 bps from the first half of 2023. Net Profit increased 15.7% to US$550 million. Net Interest costs for the first half decreased 34.0% to US$32 million, reflecting our outstanding reduction in higher-cost debt and effective utilization of lower interest rate facilities. Earnings per share also increased 15.8% to US30.12 cents. Working capital as a percent of sales improved 409 bps to 18.7% as compared to June 2023. Gearing improved to 9.2% as we delivered US$508 million of positive Free Cash Flow in the first half of 2024, an improvement of US$207 million from the first half of 2023. We are well positioned to continue driving strong Free Cash Flow conversion in the years to come.

The TTI Power Equipment segment grew sales 7.1% in local currency to US$6.9 billion. MILWAUKEE business delivered another period of double-digit growth in the first half, finishing the period up 11.2% in local currency. Our Consumer group of businesses delivered solid first half 2024 results. Led by strong performance in Outdoor, RYOBI delivered mid-single digit sales growth compared with the first half of last year. Our consumer Floorcare and Cleaning business delivered profit improvement of US$9.1 million and revenue of US$428 million which was comparable to the revenue generated for the first half of last year.

The Directors have resolved to declare an interim dividend of HK108.00 cents (approximately US13.90 cents) (2023: HK95.00 cents (approximately US12.23 cents)) per share for the six-month period ended June 30, 2024. The interim dividend will be paid to shareholders listed on the register of members of the Company on September 6, 2024. It is expected that the interim dividend will be paid on or about September 19, 2024.

Mr. Horst Julius Pudwill, Chairman of TTI, said, “We delivered outstanding results in the first half of 2024, including generating strong Free Cash Flow and strengthening our balance sheet through disciplined working capital management. With the promotion of Steven Philip Richman to CEO and the deep talent pool supporting him, we are extremely well positioned to continue growing the overall market and extending our leadership position.

Mr. Steven Philip Richman, CEO of TTI, commented, “Our first half performance demonstrates our focus on extending our market leadership position within our MILWAUKEE and Consumer group of businesses, while delivering a strong financial performance. We remain laser focused on our strategy of investing in demonstrably better, technologically advanced new products and exceptional people to drive our growth.”

About TTI

TTI is a world leader in cordless technology spanning Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products for the DIY, consumer, professional, and industrial users in the home, construction, maintenance, industrial and infrastructure industries. The Company has a foundation built on four strategic drivers – Powerful Brands, Innovative Products, Exceptional People and Operational Excellence - reflecting an expansive long-term vision to advance cordless technology. The global growth strategy of the relentless pursuit of product innovation has brought TTI to the forefront of its industries while maintaining high environmental, social and corporate governance standards. TTI's powerful brand portfolio includes MILWAUKEE, RYOBI and AEG power tools, accessories and hand tools, RYOBI outdoor products, EMPIRE layout and measuring products, and HOOVER, VAX, DIRT DEVIL and ORECK floorcare cleaning products and solutions.

Founded in 1985 and listed on The Stock Exchange of Hong Kong Limited in 1990, TTI is one of the constituent stocks of the Hang Seng Index, Hang Seng Corporate Sustainability Benchmark Index, FTSE RAFI™ All-World 3000 Index, FTSE4Good Developed Index, and MSCI ACWI Index. The Company also trades on the OTCQX Best Market under the symbols “TTNDY” and “TTNDF”. For more information, please visit www.ttigroup.com.

All trademarks listed other than AEG, OTCQX, and RYOBI are owned by the Group. AEG is a registered trademark of AB Electrolux (publ.), and is used under license. OTCQX is a registered trademark of OTC Markets Group Inc. RYOBI is a registered trademark of Ryobi Limited, and is used under license. 

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NRE BEGINS COMMERCIAL OPERATION OF PHILIPPINES-BASED 74 MWP SOLAR PROJECT

KUALA LUMPUR, Aug 7 (Bernama) -- Nexif Ratch Energy (NRE), an independent power producer focused on renewable energy solutions, has announced the Calabanga Solar Project (CARE) located in Camarines Sur, South Luzon, Philippines, has successfully reached commercial operation on Aug 5.

According to NRE in a statement, this milestone followed the completion of a rigorous testing and commissioning process conducted by the National Grid Corporation of the Philippines.

NRE Chief Executive Officer, Cyril Dissescou said: “We are delighted to announce the successful commercial operation of the Calabanga Solar Project, our first operating project in the Philippines.

“CARE demonstrates our commitment to delivering reliable and sustainable energy solutions, contributing to the Philippines' renewable energy objectives.”

Meanwhile its Chairman, Surender Singh said with commercial operation date (COD) of the CARE and the strong progress it is making on other projects in target markets, the company remains on track with its planned growth trajectory.

CARE is a 74.2 megawatt peak (MWp) ground-mounted solar photovoltaic (PV) project and the first utility-scale solar power project in the Bicol Region, delivering clean energy to the national grid.

The solar project will sell most of its electricity production through a 10-year Power Supply Agreement with a subsidiary of Aboitiz Power Corporation Group, ensuring stable revenue streams.

NRE is committed to the Philippine renewable energy market, currently developing the 145MWp NPSI solar project in Visayas as well as advancing the development of several wind energy projects including the San Miguel Bay nearshore wind project with a capacity of up to 500 MW and the Lucena offshore wind project with a capacity of up to 450 MW.

Headquartered in Singapore with regional offices across Southeast Asia, NRE is owned 51 per cent by Nexif Energy (Singapore) and 49 per cent by RATCH Group (Thailand).

-- BERNAMA

Duck Creek Technologies' Game-Changing Solution Eliminates Concept of an Upgrade

KUALA LUMPUR, Aug 6 (Bernama) -- Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announced the general availability of Policy with Active Delivery.

Policy with Active Delivery is a revolutionary solution that eliminates the need for upgrades and enables P&C insurers to deliver insurance products at scale in an era of rapid customer-centric innovation and growth.

Duck Creek Technologies Chief Product & Technology Officer, Jess Keeney said with Active Delivery, insurers can free their information technology resources to focus on innovation rather than maintenance and respond to the evolving needs of their customers and agents with speed and agility.

“Policy with Active Delivery is the ultimate expression of our vision to simplify insurance technology and empower our customers to achieve their business goals," she said in a statement.

Policy with Active Delivery is a cloud-native solution that leverages the power, scalability, and security of the Azure cloud to provide bi-weekly product updates that are applied automatically, assuring there are no disruptions to an insurer's operations while eliminating the need for additional, costly resources to manage massive upgrades.

All updates are "feature flagged", allowing insurers to choose when to activate them, ensuring zero impact on their production environment.

This solution also offers low-code configuration tools, an integrated development environment for insurance products, and pre-built content for various lines of business, allowing insurers to go to market faster, increase operational efficiencies, and improve customer satisfaction.

To drive operational efficiencies, Policy with Active Delivery automates manual processes by leveraging low-code configuration tools for agile updates and enhanced speed to market for new products, which translate into reduced expense ratios, improved core operational performance, and enhanced scalability to handle higher volumes seamlessly.

The platform supports omnichannel access, catering to the self-service expectations of customers, agents, and brokers alike, as well as enhances underwriting performance by implementing rules-based processing and dynamic workflows, ensuring consistent and optimised outcomes.

-- BERNAMA

FUJIAN DELEGATION TO JAPAN ENHANCES BILATERAL COOPERATION, SOLIDIFIES RELATIONSHIP

KUALA LUMPUR, Aug 2 (Bernama) -- Fujian delegation recently visited Japan for four days ending July 31 for economic, trade and cultural exchanges, led by Fujian Provincial Committee Secretary and Standing Committee of Fujian Provincial People's Congress Chairman, Zhou Zuyi.

According to a statement, the delegation continued traditional friendship further deepened the exchanges of sister-city relationships, promoted cooperation and development, as well as made new contributions to the comprehensive promotion of strategic and reciprocal relationship between China and Japan.

At the China (Fujian)-Japan Economic and Trade Cooperation Promotion Conference, Zhou delivered a keynote speech, and introduced to the participants about the basic provincial conditions, regional characteristics, industrial characteristics, ecological advantages and other aspects of Fujian Province.

He stated that broad space was available for bilateral cooperation within the framework of the Belt and Road Initiative and the Regional Comprehensive Economic Partnership Agreement.

Both sides should join hands to promote complementary advantages in industrial cooperation, upgrading bilateral trade and closer people-to-people exchanges, to promote more technical and capital cooperation between the two sides in relevant fields.

In addition, both sides will strengthen cooperation in cross-border e-commerce, overseas warehousing, and bulk commodity trade, with the aim to continuously expand the scale of trade, as well as achieve industrial connection and complementary advantages.

Culture and tourism serve as messengers of peace and bridges of friendship. During the visit of the Fujian delegation to Japan, activities such as the Direct Flight Ceremony between Fuzhou and Naha; and the "Mountains and Seas Embrace Fujian with Blessing Songs" Fresh Fujian (Okinawa) Cultural Tourism Promotion Conference were held subsequently.

Zhou also mentioned it is hoped that both sides continue to deepen cultural exchanges, promote closer people-to-people ties, carry out mutual promotion of resources, mutual visits of tourists, and information sharing, in addition to jointly create more characteristic tourism brands.

He added that efforts will be made to conduct extensive friendly people-to-people exchanges, foster new forces for friendship that lasts for generations, and better promote mutual learning between civilisations and achieve people-to-people connectivity.

-- BERNAMA 

OVER ONE THIRD ENTERPRISES STRUGGLE TO RETAIN CRUCIAL AI EXPERTISE - SURVEY

KUALA LUMPUR, July 31 (Bernama) -- Expereo in its latest survey revealed that over one third (35 per cent) of global enterprises are struggling to retain or attract crucial skills in artificial intelligence (AI), data and automation, which is threatening their optimistic AI ambitions.

This is according to Technology Leaders Survey which highlights a critically low supply of AI expertise, despite AI now being considered as the biggest priority for Chief Information Officers (CIOs) across the world, according to a statement.

Its Chief Executive Officer, Ben Elms said: “CIOs need to keep pace with market innovations, customer expectations and fierce competition when it comes to AI, while ensuring they are adopting the technology responsibly and effectively, without cutting corners.

“Networking technology, data strategies and wider tech infrastructure are all key areas which run adjacent to AI initiatives, which must also not be ignored”.

The research of 650 technology leaders in global enterprises across Europe, United States and Asia Pacific showed that not only are enterprises struggling to attract or retain crucial talent, but their current external technology partners are not aligned to their AI ambitions either.

In addition, 29 per cent of global CIOs said their current external technology partners do not have the right capabilities in place to support AI initiatives, and 28 per cent of global respondents feel regional variations in ability to implement AI initiatives is a key challenge.

The other leading obstacle to fulfilling AI ambitions include navigating AI governance and ethics (36 per cent), referring to ongoing challenges such as regulation, trust and data protection when it comes to using AI tools in a business setting.

The survey also found that 42 per cent of CIOs also believe that training for new ways of working, a result of AI, is one of the biggest information technology challenges in supporting remote and hybrid workers, and 39 per cent said that understanding how employees use AI is now a concern.

In spite of these challenges, 32 per cent of CIOs are moving forward with caution with AI implementation, and 44 per cent are excited and ready to take on AI initiatives.

-- BERNAMA

HPC EXPANDS TEAM IN ASIA WITH TWO SENIOR HIRES

KUALA LUMPUR, July 31 (Bernama) -- Hunter Point Capital (HPC), an independent investment firm providing capital solutions to alternative asset managers, has appointed SD Chu and Akira Takahashi as Managing Director, Singapore, and Senior Advisor, Japan, respectively, effective immediately.

Chu and Takahashi will exclusively focus on amplifying HPC’s presence in Asia and helping the firm’s General Partner (GP) partners build and strengthen relationships in the region, particularly in Korea and Japan, according to a statement.

“The demand for private capital solutions has gone global and we recognise that Asia is an important and growing region where on-the-ground knowledge of market dynamics is paramount.

“SD and Akira build upon our already strong foundation in Asia, bringing reputable track records and strong investor relationships to our global business,” said HPC Chief Executive Officer and Co-Founder, Avi Kalichstein.

Chu, who will have a specific focus on the Korean market, brings over three decades of experience facilitating fundraising efforts for global firms like Carlyle, where he most recently served as a Senior Relationship Manager working with Korean institutional investors.

Meanwhile, Takahashi, who will have a specific focus on the Japanese market, brings over four decades of experience and investor relationships to the role. Prior to this, he held senior positions with Credit Suisse, where he built and managed Credit Suisse Asset Management in Japan for over two decades.

In addition to Chu and Takahashi, HPC plans to continue expanding the team in Asia, in an effort better to serve GPs with a strategic need for partnership and strengthen relationships in the region.

Headquartered in New York, HPC poised to build enduring franchises and define the next generation of leading investment firms across the globe.

-- BERNAMA