EIG establishes Trading Plan to permit sale of Harbour Energy plc Shares

KUALA LUMPUR, Feb 9 (Bernama) -- EIG, an institutional investor in the global energy and infrastructure sectors, has established a pre-arranged trading plan (the Trading Plan) to permit the sale of up to two million shares (the Shares) of Harbour Energy plc (HBR.L or the Company) held by certain controlled affiliates of EIG.

“As previously announced on July 8, 2022, EIG completed a distribution of the Shares to its various fund investors and affiliated shareholders.

“The distributions were a taxable event for certain EIG affiliated shareholders and, as a result, EIG is undertaking a sale of the Shares pursuant to the Trading Plan primarily to cover such tax obligations,” said EIG in a statement.

The Trading Plan, entered into on Feb 6, 2023, will permit Shares to be sold through March 9, 2023 at times that EIG might otherwise be precluded from doing so under insider trading laws or the Company trading restrictions.

The Trading Plan will be administered by an independent broker and will be subject to preset price, volume and timing restrictions set forth in the Trading Plan.

Following the termination of the Trading Plan, EIG will remain the largest shareholder of the Company, holding approximately 15 per cent of its outstanding shares through managed vehicles and proprietary ownership.

Headquartered in Washington D.C., United States, EIG specialises in private investments in energy and energy-related infrastructure on a global basis.

-- BERNAMA

GALLIUM SEMICONDUCTOR UNVEILS CUTTING-EDGE MANUFACTURING FACILITY IN THE PHILIPPINES

LAGUNA, Philippines, Feb 8 (Bernama-BUSINESS WIRE) -- Gallium Semiconductor, a leading designer and manufacturer of RF power transistor products, proudly announces the opening of its cutting-edge manufacturing facility in Laguna, Philippines. The inauguration was held on February 3, 2023 and was led by Mr. Henk Thoonen, Vice President of Global Operations of Gallium Semi, and Mr. Kin Tan, Advisor to the Company.

This new production line boasts of the latest and most advanced RF power transistor technology that is designed to serve customers worldwide. The Gallium Semi team is committed to providing world-class RF power amplifier devices in DFN, QFN, ACC, and ACP packages. They possess excellent operational and technical capabilities that are key to delivering high-quality products to the market.

The cutting-edge technology used in the new facility allows Gallium Semi to provide its clients with solutions that are ahead of the curve. This technology will help the company meet the growing demand for RF power transistors and amplifiers, and solidify its position as a leading provider of high performance solutions for 5G communications, aerospace and defense, and multimarket applications.

"We are proud to announce the opening of our advanced manufacturing facility in Laguna," said Mr. Henk Thoonen. "This investment is a testament to our commitment to providing our customers with the best possible solutions and services. Our new production line, equipped with the latest assembly and test technologies, will allow us to better serve our global clients and continue to provide high-quality products that meet their needs."

Gallium Semiconductor is committed to delivering innovative and cost-effective RF power solutions to its customers, and the new manufacturing facility is a critical step towards achieving that goal.

About Gallium Semiconductor:

Gallium Semiconductor’s mission is to enable mass commercialization of Gallium Nitride (GaN) based semiconductor solutions for 5G mobile communications, aerospace and defense and industrial, scientific and medical applications. We combine the best global talents from engineering to manufacturing operations with experienced business leaders to cost effectively deliver the highest performance and efficiency semiconductors for next generation RF, microwave and millimeter-wave systems. Visit us at www.galliumsemi.com to learn more. 

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PLATINUM VICTORY KICKSTARTS 2023 WITH A NEW FAMILY RESIDENCES

~ PSV 1 Residences @ Platinum South Valley is Official Launched ~
 
KUALA LUMPUR, Feb 8 (Bernama) -- Following the sensational news of the visitation of Defence Minister Datuk Seri Mohamad Hasan on 25 Jan for "Satu Anggota, Satu Rumah" (SASaR) housing project, Residensi Sateria in Sungai Besi is one of the SASaR housing projects for Malaysian Armed Forces (MAF) to create places where their own homes are realised. As such we would like to advice all the veterans not to miss out this opportunity to own a home in the city centre.
 
Residensi Sateria comprises 5 blocks of spacious residential units with 3 practical layouts, with built-up size ranging from 1,003 – 1,234 sq ft. Each unit offers 3 + 1 bedrooms and 2 bathrooms, giving privacy and personal space that makes every living peaceful for the modern generation. 
 
Curated in-line for an active and healthy lifestyle for our Malaysian Armed Forces (MAF), an array of facilities such as playground, outdoor reading corner, outdoor fitness, badminton court, games room, BBQ area, and computer room. The facility also offers Herbs Garden & Orchard, Boulevard, Gazebo and a reflexology area for residents to have a spot of relaxation and unwind with city view.

Relatively for the public, Platinum Victory is launching PSV 1 Residences its first project of Year 2023 in the auspicious Year of the Rabbit, for those who are exploring a new home in the vicinity of prime neighbourhood surrounded by Bukit Jalil, Cheras & Sungai Besi alike. PSV 1 Residences is a new family residence located in the well-connected township with an estimated gross development value (GDV) of RM297 million.  

PSV 1 Residences is the second phase of Platinum South Valley development comprising 42-storey residential tower with a total of 500 units only, reasonably priced with starting price from RM 513,000. Incorporating 6 layout designs with built-up sizes ranging from 946 sq ft to 2,186 sq ft, PSV 1 is a perfect new home for multi-generational family to create meaningful moments and experience memorable moments.
 
PSV 1 is strategically located in the highly-integrated transportation network of Sungai Besi / Bandar Tasik Selatan making it easily accessible via major roads Middle Ring Road 2 (MRR2), Sungai Besi Expressway and Terminal Bersepadu Selatan integrated transportation hub (KTM / ERL / LRT), residents are easily accessible to their destinations under one roof, be it for work or leisure within and outer Klang Valley. 
 
In line with the tagline “All Path Leads to Victory”, at PSV 1, you can get to experience owning a property is an easy victory. 
 
A myriad of conveniences and amenities are just a short distance away from the development - established schools, medical centres, retails, hypermarkets and popular shopping hotspots such as Pavilion Bukit Jalil, Paradigm Garden city and Endah Parade Mall.
 
PSV 1 offers a vibrant array of lifestyle facilities on Level 8 podium such as infinity pool, sundeck, jacuzzi, wading pool, open lawn, playground, BBQ area, outdoor lounge, gymnasium room and indoor games room. Residents can simply unwind and relax amidst the city view. There are also spaces for family & friends that are crafted for beautiful moments. On the rooftop, the camping zone, open lawn and function room are the ideal places for friends and families to host a get-together or the perfect ambience for celebrations.
 
Celebrate the Year of the Rabbit with a new home. PSV 1 Residences @ Platinum South Valley is open for sale and its newly completed show unit is open for public viewing. Call 0111-722 6555 and make an appointment to visit Platinum South Valley Sales Gallery or log on to www.platinumvictory.com for more details.  
 
Enquiries on SASaR Residensi Sateria, please call 03 4014 0830 or log on www.platinumvictory.com/development/sasar/ for more details. 

ABOUT PLATINUM VICTORY
Established since 1997, Platinum Victory’s attention to developing property that are well-built and competitively priced has always been our guiding principle to ensure our customers can obtain the victory of owning their dream home. Having stayed true to our company’s principles, Platinum Victory has managed to build a reputable track record especially in the Setapak area. Over the years Platinum Victory has expanded beyond Setapak with a substantial number of projects in Kuala Lumpur city and across the Klang Valley. 

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NIKKISO CLEAN ENERGY & INDUSTRIAL GASES GROUP COMPLETES CRYOTEC ACQUISITION

KUALA LUMPUR, Feb 7 (Bernama) -- Nikkiso Clean Energy and Industrial Gases Group has completed the acquisition of Cryotec Anlagenbau GmbH (Cryotec), a global plant engineering and construction company located in Wurzen, Saxony, Germany.

Cryotec provides planning, project management, manufacturing and engineering services of skid-mounted/containerised air separation and liquefaction plants, and carbon dioxide (CO2) technologies offering tailored solutions to their customers.

In a statement, the group which is a part of Nikkiso Co Ltd (Japan) and operates under Cryogenic Industries Inc (United States), said Cryotec would operate as part of its GmbH facility, based in Neuenburg am Rhein, Germany and will be acting as the Nikkiso Clean Energy and Industrial Gases Group competence and production centre in Europe.

“Nikkiso will promote and sell globally the intelligent packaged solutions from Cryotec that reduce and recover carbon dioxide emissions, and further support the sustainability goals of the group.

“We will support the growth of Cryotec by adding resources and increasing our manufacturing and assembly activities in Saxony, and supplying Cryotec solutions to Germany and the global market,” said Cryogenic Industries Chief Executive Officer and President of the group, Peter Wagner.

Meanwhile, Prime Minister of Saxony, Michael Kretschmer said: “The acquisition of Cryotec Anlagenbau by Nikkiso strengthens the internationalisation of a traditional Saxon company from Wurzen.

“Nikkiso has global experience in renewable energy, hydrogen, and energy storage. I am delighted that Nikkiso will contribute its expertise to Saxony in the future,” he added.

The group consists of six functional business units namely Cryogenic Pumps, Heat Exchanger Systems, Process Systems, Fueling & Solutions, Energy Infrastructure & Strategic Projects and Service.

-- BERNAMA

PLUGLINK SIGNS KRW 15 BILLION EV CHARGER ASSETS INVESTMENT AGREEMENT WITH KDB KIAMCO

- Pluglink is the first EV charging platform in Korea to sign EV charger assets investment agreement.

- Pluglink raised a total of KRW 30 billion cumulative investment including KRW 17 billion in cumulative asset and KRW 13 billion in cumulative corporate investment.


SEOUL, South Korea, Feb 8 (Bernama-BUSINESS WIRE) -- Pluglink (CEO In-cheol Kang), an electric vehicle (EV) charging platform, announced on the 7th that it signed an investment agreement with KDB KIAMCO, the largest alternative asset manager in Korea, for a total of KRW 15 billion for EV charger assets.

Pluglink, acknowledged for its specialty in finance, introduced alternative investments in EV charger assets for the first time in Korea. Pluglink will provide total charging services for more than 7,400 EV chargers through this investment.

By signing the investment agreement with KDB KIAMCO, Pluglink raised the investment worth of KRW 17 billion in cumulative asset including KRW 2 billion investment by local city gas companies. With this, Pluglink has so far attracted a total of KRW 30 billion, including the KRW 13 billion of cumulative corporate investment.

In-cheol Kang, CEO of Pluglink, said, “Starting with this first investment for EV charger assets, we plan to expand the scale of charger-oriented finance and proceed with various structured finance.”

Pluglink is the fastest growing company in the market that made contracts for more than 10,000 EV chargers up till now and operates 1,100 EV charging stations in Korea. Pluglink joined K-RE100 for the first time in the industry and became the market leader of ESG management. This year, Pluglink was selected as the 2023 EV fast charger auxiliary business by the Ministry of Environment and will continue to expand its business scope.

About Pluglink

“Changing with Charging: Electric vehicle charging experience that changes your daily life.”

Based on its expertise in IT, construction, and user experience, Pluglink provides easy and convenient EV charging services for everyone. Pluglink provides user-centric EV charging experiences including simple charging and payments using QR codes, free installation of EV chargers, single rate plan for EV charging and IT-based charging control system. Pluglink is changing the paradigm of the EV charging market by joining the K-RE100 for first time and building a business model that utilizes renewable energy.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20230207005593/en/

Contact

Minjung Kang
Marketing Unit CMO
minjung.kang@pluglink.kr

Yusun Moon
Brand Marketing Manager
yusun.moon@pluglink.kr

Source : Pluglink

GENESIS REACHES AGREEMENT IN PRINCIPLE WITH DCG AND KEY CREDITORS ON A GLOBAL RESOLUTION THAT OPTIMIZES OUTCOME FOR CLIENTS AND STAKEHOLDERS

NEW YORK, Feb 7 (Bernama-BUSINESS WIRE) -- Genesis Global Holdco, LLC (“Genesis” “GGH” or the “company”) today announced that it has reached an agreement in principle among Digital Currency Group (“DCG”) and the ad hoc groups of creditors of Genesis Global Capital, LLC (the “Ad Hoc Groups”) which, in the aggregate, hold or represent more than $2 billion in asserted claims.

The agreement in principle lays out a framework for a global resolution that will maximize value for all Genesis clients and stakeholders.

Under the terms of the agreement, DCG would exchange its existing $1.1 billion note due in 2032 for convertible preferred stock to be issued by DCG as part of Genesis’s Chapter 11 plan. DCG would also refinance its existing 2023 term loans through a new, junior secured term loan in two tranches made payable to creditors in the aggregate total value of approximately $500 million.

As part of the transactions, DCG will also contribute its equity interest in Genesis Global Trading (“GGT”) to Genesis Global Holdco, bringing all Genesis entities under the same holding company.

In addition, as part of the agreement, Gemini has agreed to contribute up to $100 million in additional funds to Earn users as part of the Plan.

Pending the closing of these transactions, Genesis will launch a sale process for GGT and explore other value-maximizing transactions.

The agreement in principle remains subject to definitive documentation and necessary court approvals.

“Today’s agreement is a positive step forward and provides a clear path to a consensual resolution that maximizes value,” said Paul Aronzon, a member of the Special Committee of Genesis’s board of directors that has been spearheading the company’s restructuring efforts.

“I am grateful to the talented team at Genesis for their ongoing dedication and commitment to client service, and excited about working together to build Genesis for the future,” said Derar Islim, Interim CEO, Genesis. “I also want to express my deep appreciation to all of our clients for their continued patience and loyalty as we work through a resolution for our lending business.”

As previously announced, on January 19, 2023, Genesis Global Holdco, LLC and two of its lending business subsidiaries, Genesis Global Capital, LLC and Genesis Asia Pacific Pte. Ltd. filed voluntary Chapter 11 petitions in the Bankruptcy Court for the Southern District of New York to achieve a global resolution to maximize value for all clients and stakeholders. Genesis’s other subsidiaries involved in the derivatives and spot trading and custody businesses and GGT are not included in the filing and continue client trading operations. Redemptions and new loan originations in the lending business remain suspended, and claims will be addressed through the Chapter 11 process.

All aspects of the Genesis restructuring process are being overseen by an independent special committee of the company’s board of directors.

For more information on the Chapter 11 filing, including access to court documents, please visit https://restructuring.ra.kroll.com/genesis.

Moelis & Company is acting as financial advisor to the company. Cleary Gottlieb Steen & Hamilton LLP is acting as legal counsel. Alvarez & Marsal is serving as restructuring advisor.

About Genesis

Genesis is a full-service digital currency prime brokerage providing a single point of access for select qualified individuals and global institutional investors. Genesis combines unrivaled operational excellence, a seamless user experience, and best-in-class client service to provide the full suite of services global investors require to manage their digital asset portfolios.

The firm offers sophisticated market participants a fully integrated platform to trade, borrow, lend, and custody digital assets, creating new opportunities for yield while increasing capital efficiency for counterparties.

For more information on Genesis, please visit genesistrading.com.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20230206005640/en/


Contact

Media
press@genesistrading.com

Source : Genesis Global Holdco, LLC

FISERV LOOKS TO SUPPORT NEW PAYMENT FLOWS WITH MAJOR PAYMENT INSTITUTION LICENSE FROM MONETARY AUTHORITY OF SINGAPORE

Company’s local operating entity granted license to provide merchant acquisition and domestic and cross-border money transfer services under the Payment Services Act

SINGAPORE, Jan 31 (Bernama-BUSINESS WIRE) -- A Fiserv, Inc. (NASDAQ: FISV) operating entity that provides payment solutions for merchants in Singapore, First Data Merchant Solutions Private Limited, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS), effective January 1, 2023.

The license allows the company to provide merchant acquisition services and domestic and cross-border money transfer services under the Payment Services Act (PS Act) 2019.

Fiserv, a leading global provider of payments and financial services technology solutions that has its regional headquarters in Singapore, has been providing solutions to some of the largest banks, fintechs, and merchants in Singapore and across the Asia Pacific region for over two decades.

Fiserv provides end-to-end payment acceptance solutions for small businesses in Singapore as well as solutions for large enterprise clients, facilitating integrated payment acceptance across physical and digital channels and offering a wide range of payment methods locally and at global scale.

The MPI license permits the continued offering of merchant acquiring services in Singapore and will allow Fiserv to support new payment flows for its clients including cross-border funds transfer services and real-time account transfers.

Fiserv has a well-established Global Risk and Controls Framework and Global Cybersecurity Services to help ensure adherence to the regulations established under the PS Act in Singapore, as well as the regulatory bodies in markets around the world in which the company operates. 

http://mrem.bernama.com/viewsm.php?idm=45325