Zynga completes Istanbul-based Rollic acquisition around US$180 million cash

KUALA LUMPUR, Oct 5 -- Zynga Inc has acquired 80 per cent of mobile games developer and publisher, Rollic for a total purchase price, including working capital adjustments of approximately US$180 million in cash. (US$1 = RM4.157)

According to a statement, over the next three years, the global leader in interactive entertainment will acquire the remaining 20 per cent in equal installments at valuations based on specific topline and profitability goals.

Rollic will continue to be led by founder and Chief Executive Officer, Burak Vardal and its current management team. Additionally, the company plans to maintain its headquarters in Istanbul, Turkey.

The Rollic acquisition marks Zynga’s entrance into the fast-growing hyper-casual market, bringing a highly talented team with a substantial network of external developers to Zynga.

Rollic also meaningfully increases Zynga’s audience while growing its advertising business.

The close of this acquisition is effective as of Oct 1. Zynga expects to update its full year 2020 guidance when reporting Q3 2020 financial results.

-- BERNAMA

CITI'S PARTNERSHIP WITH UNDP STRENGTHENS ACROSS ASIA

KUALA LUMPUR, Sept 30 (Bernama) -- HONG KONG Citi’s partnership with the United Nations Development Programme (UNDP) in Asia Pacific has strengthened further in 2020. UNDP, which works to eradicate poverty, partnered with Citi to raise important funds over the course of the year in the fight against COVID-19. 

Citi’s support is being utilized for the most vulnerable and marginalized communities across the region including families below the poverty line, women at risk and migrant workers.

It is also being used to provide socio-economic recovery and livelihood support, including food rations, medical supplies and personal protection equipment, to those most impacted from COVID-19, due to loss of livelihood and inaccessibility to healthcare and essential needs. Projects across the region are underway, which includes providing close to 9,000 vulnerable women living in rural poverty with food baskets and health and sanitation kits in Bangladesh and providing skills, training and support for female entrepreneurs and women working in the heavily-impacted tourism industry to find alternative means of livelihood in Sri Lanka. 

In Asia Pacific, Citi committed US$1 million of trading revenue to UNDP through an employee-led initiative by several Markets and Securities Services businesses including Regional Cash Equities, Rates & Currencies, and Corporate Sales & Solutions. 

The bank also donated US$500,000 as part of the Double the Good employee donation campaign, where for every $1 donated by a Citi employee in support of COVID-19 relief, Citi donated $1 to UNDP as the selected organization for the region. 

“Our partnership with UNDP has provided important support to communities across Asia Pacific. I am proud that thousands of Citi colleagues have joined in this partnership, making a real difference to people in need during a challenging time. We look forward to our continued collaboration with UNDP,” said Peter Babej, Citi Asia Pacific CEO.

“A pandemic of this magnitude requires governments, UNDP, and the private sector to come together to help communities on urgent health needs, multi-sectoral crisis management and a socio-economic response,” said Kanni Wignaraja, UN Assistant Secretary-General, and Regional Director for UNDP in Asia and the Pacific. “The commitment from Citi and its employees is timely and much appreciated as it allows UNDP to immediately reach out to people most affected by COVID-19. If we are to emerge from this crisis stronger and more resilient, we need strong partners like Citi to be part of #NextGenUNDP, to help countries make sustainability-driven choices to underpin recovery and progress.” 

The work with UNDP builds on the successful Youth Co:Lab programme which is part of the bank’s global Pathways to Progress initiative. Co-created by UNDP and the Citi Foundation, Youth Co:Lab is the largest youth social entrepreneurship movement in Asia Pacific. Since its inception it has been positioning young people front and center to solve the region’s most pressing challenges and building up an ecosystem to connect them with incubators, accelerators and investors to turn solutions into viable business models. 

In response to COVID-19, young social entrepreneurs in Youth Co:Lab’s network are repurposing their operations, skills, and creativity to help their communities respond to the pandemic. 

http://mrem.bernama.com/viewsm.php?idm=38295

Emerging markets achieve US$834 billion e-commerce sales - Euromonitor

KUALA LUMPUR, Oct 2 -- E-commerce sales in emerging markets recorded a 30 per cent growth in 2014-2019, reaching US$834 billion, according to Euromonitor International. (US$1 = RM4.156)

The global market research company's new report, ‘Identifying Digital Trends in Emerging Markets’ examines how the pandemic impacted the availability and usage of online services in developing economies.

“The pandemic prompted an environment in emerging markets where brands can compete for the growing segment of consumers that are now willing to increase their usage of digital services,” said Euromonitor International consultant, Karinne Lelouch.

According to its Voice of the Industry: COVID-19 Survey, 60 per cent of business professionals in developing countries believe that consumers will increase online shopping and reduce in-store shopping in the mid-term or permanently.

Based on a statement, emerging markets must develop efficient online payment systems for e-commerce players to succeed.

However, financial inclusion remains a challenge in countries like Peru, Argentina and Egypt, where over 50 per cent of the population is unbanked, and cash is often the only payment option.

“The digital industry has become even more attractive for investors and competitors trying to meet the rapidly growing demand,” said senior consultant at Euromonitor International, Gustavo Gomez.

-- BERNAMA

TRICOR MALAYSIA NON-EXECUTIVE CHAIRMAN DR. VEERINDERJEET SINGH SELECTED AS PRESIDENT OF THE MALAYSIAN INSTITUTE OF ACCOUNTANTS

HONG KONG & KUALA LUMPUR, Malaysia, Sept 30 (Bernama-BUSINESS WIRE) -- Tricor Group (Tricor), Asia's leading business expansion specialist providing integrated business, corporate, investor, human resources and payroll, corporate trust and debt services, tax advisory and strategic business consultancy is pleased to announce that Dr. Veerinderjeet Singh, Non-Executive Chairman of Tricor Malaysia, has been appointed as President of the Malaysian Institute of Accountants (MIA).

In his role as President of MIA, Dr. Veerinderjeet will lead the organization in regulating, developing, supporting and enhancing the integrity, status and interests of the accountancy profession in Malaysia. Working closely with the ASEAN Federation of Accountants (AFA), and the International Federation of Accountants (IFAC), MIA connects its membership of over 36,500 accountants to a wide range of information resources, events, professional development and networking opportunities. 

With over 30 years of diverse experience in the fields of accounting, taxation and commerce, Dr. Veerinderjeet has served in the Inland Revenue Department, University of Malaya (as an Associate Professor), Arthur Andersen and Ernst & Young (as a Tax Partner/Executive Director) and authored several influential and authoritative tax publications. Dr. Veerinderjeet also sits on the Boards of Malaysian Rating Corporation Berhad, AmBank (M) Berhad and UMW Holdings Berhad. As Chairman of Tricor Malaysia, Dr. Veerinderjeet advises on complex tax advisory, supports business development, mentors executives and serves as an ambassador for Tricor in Malaysia.

Mr. Yeap Kok Leong, CEO & Managing Director of Tricor Malaysia & Labuan, said: “Businesses in Malaysia and ASEAN currently face a range of tax and accounting challenges as they navigate through a complex and evolving landscape of the unprecedented COVID-19 crisis and the emerging digital economy. Dr. Veerinderjeet is an outstanding choice to lead MIA, possessing exceptional credentials and extensive connections that will help the organization deliver on its critical mission of future proofing, supporting sustainable business practices, promoting digitalization and protecting the public interest.”

Mr. Lennard Yong, Tricor Group CEO, said: “We are pleased that Dr. Veerinderjeet has been appointed as the president of MIA. Thanks in large part to the vital work of MIA, accounting practitioners in Malaysia are trained to the highest standards of financial management and governance. In May of this year, Dr. Veerinderjeet joined Tricor Malaysia as Non-Executive Chairman. We congratulate him on his new role at MIA where he will provide significant benefit to the business community in Malaysia and across ASEAN.”

http://mrem.bernama.com/viewsm.php?idm=38292

Atlas Holdings completes Permasteelisa Group acquisition

KUALA LUMPUR, Sept 30 -- Atlas Holdings has completed acquisition of Permasteelisa Group, a global leader in the engineering, project management, manufacturing, installation and after-sales service of advanced building facades, architectural envelopes and interiors.

According to a statement by the Connecticut-based Atlas Holdings, Permasteelisa Group’s three brands - Permasteelisa, Gartner and Scheldebouw - are recognised as the premier integrated providers of high quality, bespoke curtain wall solutions in the world.

Collectively, the company employs over 4,500 associates, designing, fabricating and installing premier projects out of locations in 30 countries, including nine production facilities and eight principal design offices.

Permasteelisa Group has partnered with architects on more than 3,500 projects that have transformed worldwide skylines.

“Permasteelisa Group is trusted by the world’s most visionary architects to turn their designs into reality and has a 100 per cent project delivery record over its five decades of market leadership,” said Atlas Holdings Co-Founder and Managing Partner, Timothy Fazio.

“Combining this unique positioning in the market with Atlas’ construction and manufacturing industry expertise is a ‘win-win’ for the company, its associates and its customers.”

Permasteelisa Group’s notable projects include the Shard in London, Apple’s HQ campus in Cupertino and the World Trade Center redevelopment in New York.

-- BERNAMA

Mandom launches GATSBY GLOBAL CHALLENGERS project

KUALA LUMPUR, Sept 30 -- Mandom Corporation (Mandom), a growing brand of cosmetics for young men, has launched GATSBY GLOBAL CHALLENGERS (GGLC) project.

According to a statement, the project aims to bring energy and excitement during the time of COVID-19 to the people of Asia by working with young athletes active on the global stage.

Thirdy Ravena, a basketball player set to start with the San-en NeoPhoenix in October for the 2020-2021 season for the Japan Men’s Professional Basketball League (B.League) has been chosen to serve as the GGLC Project Ambassador.

Ravena will be coming to Japan from the Philippines as the first of B.League’s Asian Player Quota picks.

“GATSBY has not only been useful to the various countries and regions of Asia, but it has also continued to support cultural activities for young people throughout Asia with projects like the GATSBY Creative Awards which support the work of students in creative endeavours across Asia,” said Mandom Corporation Director and Managing Executive Officer, Ken Nishimura.

GATSBY has also inked a Top Sponsorship Agreement with Ravena’s team, the San-en NeoPhoenix to communicate a message, EMPOWER ASIA! A new logo, designed to encourage Asia gripped by COVID-19 concerns, will be used for the first time on the team’s away uniforms in B.League.

For all the away games during the season, the players of San-en NeoPhoenix, Ravena among them, will share the EMPOWER ASIA! message with everyone in Asia, and not just the fans in Japan and the Philippines.

More details at https://www.mandom.co.jp/en/

-- BERNAMA

Savonix, Japan's FCNT unveil cognitive testing app across 8 brain functions

KUALA LUMPUR, Sept 30 -- Savonix and Fujitsu Connected Technologies Limited (FCNT) have launched Savonix Mobile, a digital cognitive testing app on the Raku-Raku Smartphone F-42A.

Savonix is a global leader in digital cognitive health testing while FCNT is one of the major smartphone manufacturers in Japan.

According to a statement, the app will allow users to test their cognition across eight brain functions such as executive function, working memory and impulse control.

Users will immediately receive test results within the app and be able to take action to manage their cognitive health.

Savonix Mobile detects mild cognitive impairment 93 per cent of the time. For this reason, testing cognition is a good way to monitor brain health over time.

The Raku-Raku Smartphone will also house a pedometer and other important healthcare pre-installed applications to support and manage the user’s health.

Savonix Founder and Chief Executive Officer, Dr Mylea Charvat said: “Our digital cognitive assessment platform enables people to assess and monitor their brain health regularly and to incorporate lifestyle advice to improve brain wellness.”

More than 4.6 million people in Japan are suffering from some form of dementia, with the total expected to soar to about 7.3 million people – or one in five Japanese aged 65 or over – by 2025.

Japan’s government last year announced aims to reduce dementia cases by six per cent in those aged 70 and older over the next six years.

-- BERNAMA