Stable ratings outlook for The Toa 21st Century Reinsurance Company Ltd

KUALA LUMPUR, Sept 3 (Bernama) -- A.M. Best has assigned a financial strength rating (FSR) of A (excellent) and a long-term issuer credit rating (Long-Term ICR) of ‘a+’ to The Toa 21st Century Reinsurance Company Ltd (TTFC) Switzerland.

A.M. Best said in a statement the outlook assigned to these ratings is stable.

Concurrently, A.M. Best has also affirmed the FSR of A (excellent) and the Long-Term ICRs of ‘a+’ of The Toa Reinsurance Company Limited (Toa Re) Japan and The Toa Reinsurance Company of America (TRA), based in Morristown, New Jersey. The outlook of these ratings is also stable.

TTFC is a newly added member of Toa Re, of which TRA is the other member.

TTFC has been a wholly owned reinsurance subsidiary of Toa Re since 2002 that mainly assumed captive business from its parent. In May 2018, Toa Re announced that TTFC will underwrite third-party business under the brand name of Toa Re Europe.

The ratings of Toa Re reflect the company’s consolidated balance sheet strength, which A.M. Best categorised as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Toa Re’s balance sheet strength is assessed at the strongest level, owing to its conservative risk management in its underwriting and investment strategies. The company’s risk-adjusted capitalization has improved significantly in the past five years from stable and positive operating results.

Despite a series of catastrophe events in North America, the company maintained profitable underwriting results in fiscal year 2017.

A.M. Best views Toa Re as strongly committed to TTFC’s development and long-term success and will provide necessary financial support if needed. More details on www.ambest.com

-- BERNAMA

COLLECT MARVEL SUPERHERO FIGURINES AT TESCO

KUALA LUMPUR, Aug 30 (Bernama) – Fans of Marvel superheroes can own collectible figurines with stamper reeling from the recent Avengers Infinity Wars movie at Tesco stores nationwide. 

Tesco Malaysia customer director Vivian Yap, said the collectible programme was created to reward their loyal customers and would run until this Nov 14. 

“This is another exciting collectible programme that we launched this year to bring excitement and give value add to our loyal customers. We are riding on Marvel’s franchise heroes for the first time because we want to offer something unique and special for kids and adults,” she said in a statement today.

During this campaign, customers will receive one sticker for every RM30 purchase at any Tesco store and online, and need to collect up to 12 colourful stickers to redeem the exclusive merchandise randomly at RM9.00 each. 

On top of the figurines with stamper, customers may purchase a Collector Kit worth RM25 each to get the Marvel Heroes Hall of Fame standee, action albums and stamp pad in four colours to complement their figurine collection.

-- BERNAMA 

Terra raises US$32 million in seed funding

KUALA LUMPUR, Aug 30 (Bernama) – Terra has closed its seed funding round with an initial US$32 million (RM132.05 million) raised for creating the next generation of digital money. (1US$ = RM4.13)

Terra is designing a price-stable digital currency that will power the next-generation payment network on the blockchain.

In a rare event, the capital investment arms of four of the six largest cryptocurrency exchanges globally have signed on as lead investors, including Binance Labs, OKEx, Huobi Capital, and Dunamu & Partners (the investment firm of Upbit operator Dunamu).

An impressive list of leading global blockchain-focused funds, including Polychain Capital, FBG Capital, Hashed, 1kx, Kenetic Capital, Arrington XRP Capital and many others, have also joined as investors alongside major mainstream funds like TransLink Capital.

Terra will invest the initial seed capital in building the modern financial system on the blockchain.

The team aims to solve key barriers to the mass adoption of digital currencies by creating a price-stable cryptocurrency (‘stablecoin’) that can be readily used on Terra’s blockchain payment solution.

Terra is using a proven model that has worked tremendously well for payment platforms like AliPay and PayPal, which grew by capturing the rising transaction volumes of TaoBao and eBay respectively.

To drive the same kind of rapid adoption, Terra is integrating its payment system into the Terra Alliance – a formidable alliance of global e-commerce partners on an unprecedented scale.

To date, 15 companies along with TMON have joined the Terra Alliance, including Woowa Brothers, Qoo10, Carousell, Pomelo, and TIKI - some of the fastest growing e-commerce companies in Asia-Pacific servicing Southeast Asia, Taiwan, Hong Kong, Australia and other major markets.

With a total of US$25 billion (RM103.16 billion) in annual transaction volume and 40 million customers, the Terra Alliance sets the stage for Terra to become a medium of exchange at massive scale. More details on https://terra.money/

-- BERNAMA

SIMEX (OTC: ARGB) ANNOUNCES THE BEGINNING OF THE PUBLIC OFFERING

American Retail Group Inc. (aka Simex Inc.) the public corporation organized in the State of Nevada, USA

LAS VEGAS, Aug 23 (Bernama-GLOBE NEWSWIRE) -- SIMEX Inc. announces the beginning of the public offering of its convertible preferred shares in the amount of 10 million shares at the price of 20 USD per share. Shares offering is officially registered in accordance to SEC requirements. The raised funds will be used towards increasing the liquidity of the cryptocurrency and digital assets exchange platform which is also developing  the technology of trading in "one account" mode, marketing and further development of the platform.

The feature of this offering is that the sale of shares could be made for cryptocurrencies such as BTC, ETH, Litecoin, Dash, EOS.

Purchase could be made through the smart-contract by purchasing of SMX tokens, the tokens are convertible to SIMEX's preferred shares in the ratio of 20 tokens per 1 preferred share.

All investors can have the SEC qualified custodian and escrow services provided by Prime Trust.

SMX Token allows you to reduce the commissions when trading on the SIMEX Exchange depending on the balance of the user's account up to 0%.  SMX token also gives the right to have discounts purchasing any products and services within the platform.

The Board of Directors decided to pay 40% of the corporation profit annually on these preferred shares until the common share price reaches 40 USD on the stock market. After that the corporation has a right to force to convert  preferred shares into common shares at the ratio of 1:1.

This offer will last until March 1st, 2019 or until the shares are fully sold out.

The detailed description and information about this offer can be found on the website of the corporation at https://simex.global in the SMX TOKEN SALE section.

Contact information:
Email: info@simex.global
Headquarters: 2770 S Maryland Pkw, Suite 300 Las Vegas, NV 89109

Source : Simex Inc

--BERNAMA

Celebrate Merdeka together at KLCC

KUALA LUMPUR, Aug 27 (Bernama) – KLCC (Holdings) Sdn Bhd has scheduled a concert and fireworks display at the Esplanade, KLCC Park on Aug 31 to mark Malaysia’s 61st Merdeka.

The concert will kick off at 9pm and feature a large lineup of entertainers like Datuk Aznil Nawawi, Francissca Peter, Ruffedge, Altimet and Reshmonu.

A pyrotechnics show before midnight will cap off the night, a statement from the company said.

The celebration aims to unite Malaysians of different ethnicities and cultures in sharing their love for the country. The theme of National Day this year is Sayangi Malaysiaku (Love My Malaysia).

-- BERNAMA

VistaJet offers exclusive Michelin Stars Cantonese dining experience

KUALA LUMPUR, Aug 23 (Bernama) -- VistaJet is inviting Michelin award winning Hong Kong restaurant to re-invent its menu for passengers during the Chinese Mid-Autumn festival.

VistaJet Ltd with Duddell’s will add on-board Michelin stars cantonese dining experience with exclusive in-flight menu and limited-edition mooncakes to celebrate the upcoming festival.

President of Asia at VistaJet, Leona Qi said the idea behind the campaign starts with their shared passion for curating one-of-a-kind discovery experiences.

Both VistaJet and Duddell’s match welcoming attitude and a passion for art, to create the perfect surrounding to share good food and holiday celebration, a statement said.

The exquisite food is not limited to the air - guests will be able to enjoy the VistaJet menu in September at Duddell’s restaurants in both Hong Kong and London, which offer classic Cantonese favorites in a refined and artistic setting.

Duddell’s coveted cream custard mooncakes will also be made available outside of their Hong Kong restaurant for the first time. The delicacies will come in a limited-edition gift box and bag featuring artwork by celebrated Hong Kong-based painter, Chu Hing Wah.

The exclusive festive offering is dedicated to all VistaJet members’ appreciating fine dining experiences and looking for suggestive ways to celebrate the holiday with seasonal menu for flights departing from Hong Kong.

The menu is comprised of double-boiled black chicken soup with qi zi herbs and fish maw -- a rich and nutritious dish brimming with collagen from the fish maw -- and the Cantonese delicacy braised whole African abalone five heads with shiitake mushroom.

Meanwhile, Duddell’s London will also present its own menu for flights departing from the city including European favorites and regional variations.

VistaJet is the first and only global aviation company. It has flown corporations, governments and private clients to 187 countries, covering 96 per cent of the world. More information at https://www.vistajet.com.

-- BERNAMA  

EASTSPRING INVESTMENTS DECLARES YIELD FOR TARGET INCOME FUND 6

KUALA LUMPUR, Aug 24 (Bernama) – Eastspring Investments Bhd has announced a gross income distribution of 0.0206 sen per unit, or a dividend yield of 2.00 per cent, for the Eastspring Investments Target Income Fund 6 for the financial year-ended May 31, 2018.

Unit holders who have maintained their holdings in the fund as at Aug 23, 2018, will be entitled for the income distribution, the asset management company said in a statement on 24 August 2018.

The five-year closed-ended bond fund is the sixth in a series of target income funds.

"This distribution was consistent with the Fund’s objective which endeavours to provide regular income during the tenure of the Fund.

"Income declared will be paid out either by way of e-payment according to unit holders’ instructions in the account opening form, or by cheque," said Eastspring.

It also added that after months of weakness, risk appetite for Asian credit rebounded in July, with marked credit spread narrowing accompanied by a reversal of the prior trend of investor outflows from emerging market assets.

-- BERNAMA