REVITALISE MIND, BODY AND SOUL IN HONG KONG THIS AUTUMN

KUALA LUMPUR, Sept 17 (Bernama) -- Cosy weather combines with Hong Kong’s majestic natural landscape offered all manner of ways to rejuvenate the mind, body and soul during the autumn season.

The city is inviting tourists to embark on a revitalising journey where they can enhance their physical and mental wellbeing while uncovering the hidden gems of this world-class wellness paradise.

Taking place on Oct 13, the 2024 Sun Hung Kai Properties Hong Kong Cyclothon, Hong Kong’s largest cycling event and carnival, promises new excitement which will feature 6,000 global cyclists race for glory, backdropped by the city’s incredible natural and man-made scenery.

According to the Hong Kong Tourism Board (HKTB) in a statement, this year’s edition will be bigger and better than ever, with new elements including enhanced routes through four tunnels and three bridges that take in incredible views of Hong Kong’s natural landscape and the spectacular Victoria Harbour.

Meanwhile, in November, the TransLantau by UTMB invites long-distance runners of all experience levels to explore the rugged landscapes and untamed beauty of Lantau Island, Hong Kong’s largest island, presenting four races of varying levels of difficulty.

Adding to the excitement, as the largest hiking fundraising event in Hong Kong, Oxfam Trailwalker promises adventure seekers an extraordinary journey up the city’s tallest peak, Tai Mo Shan, providing spectacular views of the city’s singular juxtaposition of natural and urban landscape from 957 metres high.

Besides sports activities, Hong Kong is also home to a number of world-class day spas, perfect for an afternoon of pampered relaxation, as well as a diverse natural ecosystem within easy access of urban centres for those looking to take a beat away from the hustle and bustle of the city, achieve mental relaxation and alleviate stress.

There are many therapeutic ways to experience Hong Kong’s rich green landscape, including forest bathing (Shinrin-yoku) and hiking on one of its myriad trails, which offer the opportunity to slow down the pace of the everyday and be immersed in nature.

For individuals or couples seeking pampering and wellness experiences, they can take a break at a five-star urban spa retreat where sky-high views await on the 116th floor of the International Commerce Centre at The Ritz-Carlton Spa, Hong Kong. The top-tier spa boasts floor-to-ceiling windows overlooking Victoria Harbour and the Hong Kong skyline, creating the perfect backdrop.

-- BERNAMA

EIG’S MIDOCEAN RAISES STAKE IN PERU LNG TO 35 PCT

KUALA LUMPUR, Sept 17 (Bernama) -- MidOcean Energy (MidOcean), a liquefied natural gas (LNG) company formed and managed by EIG, and Hunt Oil Company (Hunt) announced they have entered into a definitive agreement for MidOcean to acquire an additional 15 per cent interest in Peru LNG (PLNG) from Hunt.

Following the closing of the deal, MidOcean’s interest in PLNG will rise from 20 per cent to 35 per cent, according to a statement.

“Our belief in the long-term fundamentals of the LNG market and in the strength of PLNG’s unique position as the only LNG export facility in South America remains steadfast.

“We look forward to strengthening our partnership with Hunt Oil and the other PLNG co-venturers and continuing to support the project’s positive impact on the Peruvian energy market,” said MidOcean chief executive officer (CEO), De la Rey Venter.

Meanwhile, Hunt CEO, Mark Gunnin said: “We are focused on positioning the PLNG project for the future, and the opportunity to bring in MidOcean as a partner was a great strategic fit to make that happen.”

Aramco played a pivotal role in the transaction, including undertaking key technical and commercial due diligence as well as engaging with key stakeholders for transaction approval. The transaction will be funded entirely by Aramco, which will increase its interest in MidOcean to 49 per cent.

This further investment strengthens MidOcean and Aramco’s position in the global LNG market and will provide both parties exposure to South America’s only LNG export project, with Aramco’s indirect stake of 17.2 per cent in PLNG.

Hunt’s interest in PLNG will decrease from 50 per cent to 35 per cent, though it will remain the operator of the project. Hunt continues to own a 25.2 per cent interest in the Camisea upstream project in Peru.

Located in Pampa Melchorita, 170 kilometres (km) south of Lima, Peru, PLNG owns and operates the only LNG export facility in South America. The facility is operated by Hunt and is one of only two LNG production facilities in Latin America.

-- BERNAMA

SAVIYNT TO ADDRESS LOCAL IDENTITY CHALLENGES AT SINGAPORE EVENT

KUALA LUMPUR, Sept 17 (Bernama) -- Saviynt, a cloud-native identity and governance platform solutions provider, announced its Converge Global Tour 2024 Singapore event, scheduled for Sept 20.

An exclusive, complimentary event for the company’s prospects, customers, and partners, visitors will be able to explore its converged platform, The Identity Cloud, and the latest innovations in identity security, including the newly released Saviynt Intelligence Suite.

As digital transformation accelerates across the Asia Pacific region, the demand for robust cybersecurity solutions is more critical than ever. This surge is fuelled by the increasing frequency of cyber threats, widespread adoption of cloud services, and heightened regulatory pressures.

Saviynt Senior Vice President, Dan Mountstephen said the company is thrilled to bring the Converge Global Tour to Singapore where it has been experiencing remarkable growth for the third year in a row.

“Singapore is a critical part of the APJ region and is at the forefront of digital transformation, and the Converge Global Tour event in Singapore is an exciting opportunity to connect with trailblazing organisations in the region,” he said in a statement.

The Converge Global Tour will cover the evolving landscape of identity and access governance, best practices for adapting to advanced cyber threats, and offer a closer look at Saviynt’s converged platform, showcasing its ability to secure digital transformation with simplicity and control.

The Singapore event will also feature Saviynt executives including Chief Product and Strategy Officer Jeff Margolies, Chief Revenue Officer Todd Rotger, and General Manager India Sapna Nair as well as industry analysts.

Margolies will share insights into the cutting-edge features of Saviynt’s Intelligence Suite, such as Intelligent Recommendations, which dynamically provides roles, access recommendations, and actionable insights that reduces access request and provisioning time by over 50 per cent and role management time by more than 80 per cent.

Also, it will showcase Copilot, an artificial intelligence (AI)-powered assistant that simplifies tasks for users, enhances decision-making, and reduces certification fatigue while improving access revoke accuracy by up to 75 per cent; and Trust Scoring, a multi-dimensional scoring model that combines various risk signals into a single, weighted score, simplifying decision-making and supporting autonomous security processes.

-- BERNAMA

Akur8 Raises US$120 Mln To Boost Next Generation Actuarial Platform Growth

KUALA LUMPUR, Sept 17 (Bernama) -- Akur8, the machine learning-powered insurance pricing and reserving platform, has secured US$120 million in series C funding, which will significantly bolster the company’s ability to expand its product portfolio and fuel its growth in key global markets.

According to a statement, the new funding will bring its total raised investment to US$180 million. (US$1=RM4.29)

This latest funding round was led by One Peak, a growth equity firm investing in software scale-ups, with participation from Partners Group, one of the largest firms in the global private markets industry acting on behalf of its clients, and historical investor Guidewire Software Inc.

“We look forward to collaborating closely with our new investors, One Peak and Partners Group, two leading investment firms that share our vision for innovation and excellence.

“With their support, we are committed to accelerating our product development efforts and staying ahead of industry trends to offer an unparalleled, integrated actuarial platform for insurers globally,” said its Chief Executive Officer and Co-Founder, Samuel Falmagne.

Developed explicitly for insurers, Akur8 has been revolutionising non-life insurance pricing with transparent artificial intelligence since 2019, and its cloud-based, fully integrated platform empowers insurers to price at unprecedented speed, directly influencing financial outcomes and enhancing risk assessments.

With the recent acquisition of the Arius reserving platform, Akur8 further expands its product portfolio and customer base, amplifying the value delivered to insurance carriers worldwide.

The new funding will be used to fuel product innovation with two new modules, namely Optim and Deploy; drive growth by leveraging Akur8’s recent acquisition of Arius; and accelerate global expansion, particularly in North America.

Walter Billet Avocats acted as legal advisor for Akur8 in this transaction and has been advising the company since its founding, while Perella Weinberg Partners served as the company’s financial advisor.

-- BERNAMA

OTC Markets Group To Connect East And West With OTC Overnight

KUALA LUMPUR, Sept 13 (Bernama) -- OTC Markets Group Inc has officially launched over-the-counter (OTC) Overnight, enabling a select group of active securities to be traded from Sunday through Thursday.

“OTC Overnight will provide a transparent, competitive, and cost-effective market to support the growing needs of investors, broker-dealers, and issuers.

“It is an important step in furthering our company’s mission to create better informed and more efficient markets,” said OTC Markets Group Executive Vice President of Market Data, Matt Fuchs in a statement.

OTC Overnight provides trading capabilities that will significantly expand market accessibility, transparency, and comprehensive data coverage by using existing infrastructure and connectivity, allowing broker-dealer subscribers to efficiently meet their customer demand.

With OTC Overnight trading and reporting functionality now live on OTC Link NQB, an Securities and Exchange Commission (SEC)-regulated Alternative Trading System, a select group of active securities are now eligible for trading in overnight sessions by broker-dealer subscribers in the US dollars.

While the initial launch applies to a limited group of securities, the operator of regulated financial markets for over 12,000 United States (US) and global securities, plans to expand the offering to additional securities over the near term.

The company first announced OTC Overnight in May, noting proposed market hours and the type of securities to be eligible at launch.

OTC Overnight signifies an evolution of the company’s service, launched at a critical moment as innovative broker-dealers seek to enhance the trading experience for investors in the US and Asia.

-- BERNAMA

FRUITFUL OUTCOMES AT 24TH CHINA INTERNATIONAL FAIR FOR INVESTMENT & TRADE

KUALA LUMPUR, Sept 13 (Bernama) -- The 24th China International Fair for Investment & Trade (CIFIT), staged successfully in Xiamen, Fujian Province, saw 688 cooperation agreements signed with a total planned investment of 488.92 billion Chinese yuan. (100 Chinese yuan = RM60.67)

Ended on Sept 11, the four-day event was attended by nearly 80,000 guests from 120 countries and regions as well as 18 international organisations, according to a statement.

Several important activities were rolled out, including the seventh Belt and Road High-quality Development Conference, and the third Annual Conference of the Global Alliance of Special Economic Zones, to facilitate various countries to expand openness and share opportunities on the CIFIT platform.

This CIFIT has some new highlights in the exhibitions, such as setting up the "Global Development", as well as the "China's Outward Investment and Cooperation" areas, to showcase the achievements of Chinese investment and construction overseas.

Moreover, the "Silk Road Maritime" area and the 10,000 square metres "BRICS Exhibition on New Industrial Revolution" have injected new momentum into international investment and cooperation.

A number of authoritative reports on foreign investment were released, including the World Investment Report 2024 (Chinese Edition), Statistical Bulletin of FDI in China 2024, and Foreign Investment Guide of the People's Republic of China 2024, which would help participants grasp the global investment landscape and market dynamics and make sound decisions.

The event was sponsored by the Ministry of Commerce and co-organised by the Fujian Provincial People's Government, the Xiamen Municipal People's Government, and the Investment Promotion Agency of the Ministry of Commerce.

-- BERNAMA

NATIONAL ENERGY AWARDS 2024 SHOWCASES MALAYSIA'S COMMITMENT TO ENERGY MANAGEMENT, ENERGY EFFICIENCY AND RENEWABLE ENERGY SOLUTIONS

 

_{Congratulations to the National Energy Awards (NEA) 2024.}  

KUALA LUMPUR, Sept 13 (Bernama) -- The National Energy Awards (NEA) 2024 uphold its tradition of honouring industry leaders and organisations for their commitment to adopting energy efficiency, renewable energy, technologies and practices. This year, 25 recipients are honoured for their significant contributions to optimising energy management, improving energy efficiency, and advancing renewable energy.

Spearheaded by the Ministry of Energy Transition and Water Transformation (PETRA), the NEA supports Malaysia's goal of reducing reliance on carbon-based fuels and promoting sustainable energy practices across all sectors, advancing the nation toward net-zero GHG emissions by 2050.

This year’s National Energy Awards (NEA) received 134 submissions from various sectors, including healthcare, government bodies, and private sectors. These efforts collectively saved 315.37 gigawatt-hours (GWh) of energy usage annually, which is equivalent to about RM 45 million in reduced energy bills per annum at current tariffs, and generated over 283.71 GWh annually from renewable energy sources. The healthcare sector, particularly government hospitals, stood out with more than 65 submissions, showcasing strong leadership in energy efficiency and setting a positive example for others. This high level of participation underscores the sector’s commitment to sustainability and the country’s energy-saving goals.

“I am inspired by the progress made by various sectors in advancing our country’s energy transition agenda. The commitment to sustainable energy development and practices will drive Malaysia’s future growth. Congratulations to the National Energy Awards (NEA) 2024 winners! Your contributions to energy sustainability highlight Malaysia’s leadership in energy management, renewable energy and energy efficiency.” said Dato` Sri Haji Fadillah bin Haji Yusof the Deputy Prime Minister and the Minister of Energy Transition and Water Transformation (PETRA).
 
These energy savings are crucial in advancing the nation's environmental goals, contributing to an annual reduction of 238,504.41 metric tons of carbon emissions, equivalent to planting 5,962,610 trees. This demonstrates Malaysia's continued dedication to a just and sustainable energy transition, in line with the country's pathway to achieving net zero by 2050.

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