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Frost & Sullivan Analyses Impact of IR DRG Implementation on Healthcare Delivery in Dubai

Healthcare providers in Dubai must prepare for the imminent shift to international refined diagnosis-related group (IR DRG) system or be caught off-guard when pricing structures change in 2018. The new structure will completely transform insurance companies’ payment approach to healthcare providers. It aims to eliminate over prescription by moving the burden of cost to the provider itself. In short, providers will be paid a fixed base rate, multiplied by a factor for each DRG code.

“To make their margins, healthcare providers now have to work backwards from the price they will get paid. They will also need to firmly control their costing for each procedure. Failure to do so will result in lower or no margins. Moreover, this must be done without compromising the quality of care and outcome,” said Frost & Sullivan Healthcare and Life Sciences Senior Consultant Vivek Shukla.

Frost & Sullivan’s Healthcare and Life Sciences team, with its expansive coverage and expertise of the global healthcare industry, finds that even the most efficient hospitals will have areas of improvement when it comes to overall cost optimization. To learn more about IR DRG impact on healthcare providers in Dubai, register for a Growth Strategy Dialogue, or schedule a free interactive briefing with Frost & Sullivan’s thought leaders, click here or please email Anita Chandoke, Corporate Communications, at achandhoke@frost.com.

As fixed prices replace fee-for-service, and price-based costing substitute cost-based pricing, providers must prepare early to garner maximum benefit. Healthcare providers that are clear about cost structures and effectively manage without giving up on quality will gain the competitive edge over contemporaries. Healthier margins mean higher capacity to invest in better doctors and staff, brand building, and equipment. This will enhance the perception, quality and outcomes of hospitals, giving them an even higher strategic ground.

To comply with the new insurance environment and stay profitable when the prices get fixed for various procedures, healthcare providers must:

  • Immediately deploy costing tools: As base rates and multiples will be assigned on the basis of rates during and before the shadow-billing phase, costing tools can offer clarity on the margins of the procedures being performed and strengthen cost management
  • Scrutinize and reset processes: Everything from operational flows, supply chain, work force utilization, and equipment maintenance must be scanned to assess obvious and hidden cost drivers for corrective action
  • Rethink service mix and refresh marketing: As efficiencies in various departments or service lines are streamlined, the service mix may change, compelling fresh marketing efforts and realignment of future plans
  • Re-engineer budgets: The way budgets are created and revenues and costs allocated will change as the basis for future calculations are altered

Overall, transitioning to IR DRG will require months of careful preparation. As such, market opportunities will emerge around solutions to support hospitals in cost reduction and revenue cycle management.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.

Media Contact:
Anita Chandhoke
Corporate Communications
P: +91 80 6702 8020
E: achandhoke@frost.com

http://ww2.frost.com

Twitter: @Frost_MENASA
Facebook: FrostandSullivanMENASA
LinkedIn: https://www.linkedin.com/company-beta/4506/

 

SOURCE Frost & Sullivan

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Teleperformance conferred 2017 Asia-Pacific Contact Center Outsourcing Service Provider of the Year award by Frost & Sullivan

Teleperformance was honoured with the 2017 Asia-Pacific Contact Center Outsourcing Service Provider of the Year Award at the annual Frost & Sullivan Asia-Pacific ICT Awards banquet held at Shangri-La Singapore on July 6.

Teleperformance specializes in delivering superior omnichannel customer experience designed around people interactions. The company’s commitment to customer value is exemplified by its technology expertise, process excellence, global footprint, and capability to customize for local markets.

Mr.Krishna Baidya, Head of Customer Contact Research, Digital Transformation Practice – Asia Pacificat Frost & Sullivan said that whilst the company focuses on core customer service delivery, it continues to expand its scale and strengthen solutions portfolio.

“With the most extensive geographic footprint in the industry, Teleperformance continues to dominate the market while offering diversified experience across vast range of verticals. Its strategic vision, commitment to the client successes and focus on innovation, allow the company to differentiate itself in the Asia Pacific region and achieve exemplary growth. Much of its success was based on its strong capabilities in deploying best-in- class tools and offerings in local languages and deep understanding of the Asia-Pacific market and specific customer needs in those markets.

“We are proud to receive the 2017 Asia-Pacific Contact Center Outsourcing Service Provider of the Year Award. This award recognizes our work and commitment in this area and will encourage our team to strive and reach new heights,” said David Rizzo, President, Asia Pacific, Teleperformance.

The recipients of the annual Frost & Sullivan Asia-Pacific ICT Awards were identified based on an in-depth research conducted by Frost & Sullivan’s analysts. The award categories offered each year are carefully reviewed and evaluated to reflect the current market landscape and include new emerging trends. The shortlisted companies were evaluated on a variety of actual market performance indicators which include revenue growth; market share and growth in market share; leadership in product innovation; marketing strategy and business development strategy.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

 

SOURCE Frost & Sullivan

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http://www.frost.com

Taxify, Rideshare Leader in Europe and Africa, Announces Strategic Partnership with Didi Chuxing to Support Cross-Regional Transportation Innovation

Taxify, a leading ride sharing company in Europe and Africa, today announced a strategic partnership with Didi Chuxing, the world’s leading mobile transportation platform. Under this partnership, DiDi will invest in and collaborate with Taxify to support the latter’s further growth and innovation across its diversified markets.

(Logo: http://mma.prnewswire.com/media/540174/Taxify_Partnership_Logo.jpg )

(Logo: http://mma.prnewswire.com/media/540400/didi_Logo.jpg )

(Photo: http://mma.prnewswire.com/media/540175/Taxify_Didi_Chuxing.jpg )

Launched in Estonia in 2013, Taxify is the fastest-growing ride-hailing company in Europe and Africa, offering taxi- and private car-hailing services to over 2.5 million users in major hubs across 18 countries, including HungaryRomania, the Baltic States, South AfricaNigeria and Kenya.

Powered by AI technologies, DiDi offers an extensive range of mobility services, including Taxi, Premier, Express, Luxe, Hitch, etc., to over 400 million users in more than 400 cities. In addition to creating over 17 million flexible work and income opportunities for its driver-partners, DiDi leverages its AI capabilities to help cities develop integrated and sustainable smart transportation solutions.

Markus Villig, Founder and CEO of Taxify, said: “Taxify will utilize this partnership to solidify our position in core markets in Europe and Africa. We believe DiDi is the best partner to help us become the most popular and efficient transport option in Europe & Africa“.

Will Cheng Wei, Founder and CEO of Didi Chuxing, said: “Taxify provides innovative, high-quality mobility services across many diverse markets. We share a strong commitment to harnessing the power of mobile technology to satisfying rapidly evolving consumer demands and revitalizing traditional transportation industry. I believe this partnership will contribute to cross-regional smart transportation linkages between Asian, European and African markets.”

About Taxify

Taxify is an Estonian international transportation network company headquartered in Tallinn, Estoniaand operating in 25 cities and 18 countries in EuropeWest AsiaAfrica and Mexico with over 2.5 million users. The company develops and operates the Taxify mobile application, which allows people request a taxi or private hire driver from their smartphone. Taxify has a team of over 170 employees and has raised €2 million of venture capital, being the most effectively operating transportation app in the world.

Taxify’s mission is to change the way people move within the city, create jobs and transform the transportation ecosystem by delivering high-quality ride experiences at affordable rates. Taxify is focused on utilizing one’s data and AI technologies to become the most efficient transport provider in the region.

About Didi Chuxing 

Didi Chuxing is the world’s leading mobile transportation platform. The company offers a full range of mobile tech-based mobility options for over 400 million users, including Taxi, Premier, Express, Hitch, Luxe, Bus, Minibus, Chauffeur, Car Rental, Enterprise Solutions and bike-sharing. As many as 20 million rides were completed on DiDi’s platform on a daily basis in October 2016, making DiDi the world’s second largest online transaction platform. DiDi acquired Uber China in August 2016.

DiDi is committed to working with communities and partners to solve the world’s transportation, environmental and employment challenges using big data-driven deep-learning algorithms that optimize resource allocation. By continuously improving the user experience and creating social value, we strive to build an open, efficient, collaborative, and sustainable transportation ecosystem. In 2016, Didi was included in Fortune’s Change the World list, and named one of the World’s 50 Smartest Companies by MIT Technology Review. In 2015, DiDi was named as a Davos Global Growth Company.

SOURCE Taxify and Didi Chuxing

CONTACT: Media inquiries: Taxify, Tallinn, Estonia, Taxify OÜ, +372 58842152, press@taxify.eu, https://taxify.eu/press/, Didi Chuxing, Greater China, Brunswick Group, didichuxing@brunswickgroup.com, +86-10-59608600 / +852-3512-5000; U.S., Sard Verbinnen & Co, didichuxing@sardverb.com, +1-415-618-8750

Asia’s Most Influential Seafood Event Returns to Hong Kong in September

Visitors to this year’s Seafood Expo Asia will have an unparalleled opportunity to discover a variety of seafood products, services and equipment from Asiaand around the world when the trade event, produced by Diversified Communications, returns to the Hong Kong Convention and Exhibition Centre on September 5-7, 2017.

Building on last year’s successful event, which attracted more than 8,800 seafood professionals from 69 countries, the 2017 edition of Seafood Expo Asia will feature a rich programme of content with a host of innovative brands and exhibits, making it the ideal platform for industry professionals to source the latest products, meet face-to-face with new and existing suppliers, hear from experts on current trends in the industry and participate in exciting special events.

According to the World Bank, the Asia Pacific region will account for 70 percent of global fish consumption by 2030. “With consumer demand for seafood at a record high, international buyers and decision makers representing retailers, supermarkets, importers, hotels, restaurants, chefs, catering services, wholesalers and distributors will gain valuable insight into new product innovations, best practices and emerging trends affecting the industry in the Asian market,” says Event Director Ms. Iris Kwan.

“Forming relationships with customers in this part of the world is vital for global seafood producers and suppliers when one considers that seafood consumption is projected for considerable growth across the entire region,” continues Ms. Kwan, adding that well known companies such as Aeon Big Sdn. Bhd (Malaysia), Aeon Stores Co. (Hong Kong), City Super Ltd. (Hong Kong), Colruyt Group (Hong Kong), ITM Alimentaires International (Thailand), Metro Food Sourcing APAC (Hong Kong), MGM Macau, ParknShop Ltd. (Hong Kong), Sodexo Service Asia Pte Ltd. (Singapore), Tesco Stores Sdn. Bhd. (Malaysia), Unicoop Firenze (Italy) and Walmart China are already among the list of buyers registered to attend.

Ms. Kwan confirms that the exposition will feature new companies and countries showcasing a diverse range of the world’s seafood. Newcomers for 2017 include international pavilions from SpainFranceSouth Korea and China joining new exhibiting countries like DenmarkIcelandMaldives and Mexico.

Seafood Expo Asia attendees will have the opportunity to participate in the new and enhanced conference program covering today’s most pertinent topics such as Internet of Things applications in the seafood industry, traceability and authentication, consumer trends, aquaculture, and a workshop on sustainability and certification.  Sessions will be informative and thought-provoking as seafood experts discuss the latest news and developments from across the industry with the aim of providing buyers and suppliers with ideas and inspiration to grow their businesses.

The redesign of the Seafood Expo Asia Product Showcase that will be presented in a market-style setting will provide exhibitors from around the world with an effective way to introduce their brands to the market and buyers with new purchasing ideas.

Seafood Expo Asia  runs alongside Restaurant & Bar Hong Kong, the region’s fine dining and beverage exhibition. For more information or free registration, please visit  https://www.seafoodexpo.com/asia/.

 

SOURCE Diversified Communications

CONTACT: Hong Kong, Janet Middlemiss, JEM Worldwide Limited, Tel: +852 2857 3832, Mobile: +852 9195 7829, Email: janet@jemworldwide.com; USA, Jonathan Bass, Diversified Communications, Tel: +1 207 842 5563, Email: jbass@divcom.com

RELATED LINKS
https://www.seafoodexpo.com/asia/

115 Years and Cooler Than Ever — Carrier Celebrates the 115th Anniversary of Modern Air Conditioning

What do summer blockbuster movies, boxed chocolates and skyscrapers have in common? It wasn’t until modern air conditioning came to movie theaterscandy confectioners and high-rise office buildings that these industries flourished with the addition of cool, temperature-controlled air. Now, 115 years later, Carrier marks the anniversary of modern air conditioning by highlighting recent innovative advancements and milestones that make our technology relevant today and quite simply, cooler than ever. Carrier Singapore  Pte Ltd. (Carrier Singapore) is a part of Carrier, a world leader in high-technology heating, air-conditioning and refrigeration solutions, a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (NYSE: UTX).

“Carrier continues to develop new products and push the boundaries of smart technology. Beyond keeping people cool and comfortable, Carrier products are among the most energy-efficient products available today,” said Chong Wai Yen, Managing Director, UTC Climate, Controls & Security, Singapore. “Through persistence, world-class engineering and a relentless commitment to innovation, Carrier is cooler than ever — and excited to deliver leading solutions to keep people around the world comfortable well into the future.”

Here are eight reasons to celebrate Carrier and our game-changing air conditioning technology.

  1. Sustainable products. Globally, since 2000, Carrier products have avoided more than 225 million metric tons of carbon dioxide through advancements in energy efficiency, the equivalent of removing more than 47 million passenger vehicles from the road for one year. How cool is that?
  2. Commitment to green buildings. As a founding member of the Singapore Green Building Council (SGBC), Carrier has demonstrated a strong commitment to environmental sustainability through the promotion of energy efficient technologies, products and services. Carrier’s AquaEdge 23XRV chiller with high efficiency VFD tri-rotor screws has been re-certified and maintained as a leader in the Green Building Product Certification of SGBC under the water-cooled chillers product group.
  3. Our founder, Willis Carrier. The spirit of Willis Carrier, the inventor of modern air conditioning, is kept alive and well on williscarrier.com and on Twitter. Follow along with Willis as he shares the history and memorabilia surrounding the evolution of modern air conditioning.
  4. Footprint in Singapore. Since its entry into Singapore in 1954, Carrier has developed a strong presence in the building segment, with extensive product offerings, comprehensive aftermarket services and commercial building energy efficient retrofits. Carrier’s green air conditioning products can be found in local landmark buildings including Singapore Changi Airport and VivoCity.
  5. The UTC Center for Intelligent Buildings. Carrier, and its industry-leading products, will be featured in the UTC Center for Intelligent Buildings, a first of its kind global customer experience center set to open later this year in Palm Beach Gardens, Florida.
  6. Fostering a global dialogue. We believe that global dialogue can rebalance the built environment with the natural environment. We also believe that green building, which includes our high-efficiency air conditioning products, will accelerate with education. That’s why Carrier convenes the Distinguished Sustainability Lecture Series, in hopes that the discussions of today will help drive technological advancements and shape the decisions made for years to come. To date, the lecture series has reached over 3,850 professionals through 31 lectures in 19 cities across 15 countries. Events will be held later this year in Indonesia and India.
  7. Carrier keeps food fresh and cool. Modern air conditioning paved the way for Carrier’s refrigeration technology for the transport and shipping of temperature controlled cargoes. Carrier understands that “fresh” is not simply about how recently produce was harvested or products were created. It is also about the conditions in which they have been transported. That is why Carrier provides transport refrigeration solutions that allow for precise control of temperature and humidity, preserving all types of perishable cargo no matter where it needs to go.
  8. Carrier is constantly innovating. In fact, the air conditioning technology of the future is being developed right now. In 2016, United Technologies spent $3.7B on company and customer-funded research and development, supporting a variety of innovative new aerospace and building systems products including Carrier heating, cooling and refrigeration systems. That’s a lot of “cool”, hard cash.

Learn more about Carrier’s legacy of innovation, as well as the complete history of modern air conditioning, in Weathermakers to the World and on WillisCarrier.com.  Follow @WillisCarrier on Twitter for more historic facts. Follow along on social media using the hashtag #carriercool.

About Carrier

Founded by the inventor of modern air conditioning, Carrier is a world leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.carrier.com or follow @Carrier on Twitter.

Media Contact:

Hor Mei Peng
+65-6410-0111
Meipeng.hor@utc.com

Logo – https://photos.prnasia.com/prnh/20170801/1908203-1LOGO

SOURCE United Technologies Corporation

Geoswift, cross-border payment solutions provider accepted into Forbes Finance Council

Raymond Qu, CEO and Founder of Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, has been accepted into the Forbes Finance Council, an invitation-only community for executives in accounting, financial planning, wealth and asset management and investment firms.

Raymond Qu joins other Forbes Finance Council members, who are hand-selected, to become part of a curated network of successful peers and get access to a variety of exclusive benefits and resources, including the opportunity to submit thought leadership articles and short tips on industry-related topics for publishing on Forbes.com.

Forbes Councils combines an innovative, high-touch approach to community management perfected by the team behind Young Entrepreneur Council (YEC) with the extensive resources and global reach of Forbes. As a result, Forbes Council members get access to the people, benefits and expertise they need to grow their businesses — and a dedicated member concierge who acts as an extension of their own team, providing personalized one-on-one support.

“I am honored to represent Geoswift in joining the Forbes Finance Council. We’ve built a global cross border payments business across Hong KongShanghaiSingaporeLondonVancouverSeattle and San Francisco. We’ve expanded our team with senior appointments of industry specialists to meet the growing requirements of our international clients. We are at an exciting stage of growth and joining the Council will enable us to contribute further to the payments industry especially those turning to China for opportunities.

International players are often overwhelmed by the complex regulations introduced by People’s Bank of China (PBOC). With new market entrants and regulatory developments, I can understand why. Our expertise lies in China and we work with global merchants to facilitate the collection and settlement of currencies into China. Our product infrastructure has also been built to adapt to changes in regulatory policies by the PBOC. We have great business insights on China and we are very positive on the potential it presents.

Our membership with the Forbes Finance Council presents a fantastic opportunity for Geoswift to share our insights and expertise on China’s business potential with the rest of the world.” Raymond Qu, CEO and Founder of Geoswift.

Scott Gerber, founder of Forbes Councils, says, “We are honored to welcome Raymond Qu, into the community. Our mission with Forbes Councils is to curate successful professionals from every industry, creating a vetted, social capital-driven network that helps every member make an even greater impact on the business world.”

About Geoswift

Geoswift is an innovative payment technology company connecting China and the rest of the world. The company comprises the world’s leading payment technology experts that have a deep understanding of the industry, technology, and global and China monetary policy. Geoswift provides clients with customised one stop cross-border payment solutions to and from China. Geoswift is relied upon by the world’s leading ecommerce companies, most prestigious universities and the largest brands in the travel industry to grow their businesses.

Geoswift is an acquirer of UnionPay International in North America and a long-term partner of many other leading financial institutions. It also maintains numbers of currency exchange outlets throughout China. Geoswift is headquartered in Hong Kong with operating offices in ShanghaiSingaporeLondonVancouverSeattle and San Francisco for strategic and regulatory functions. For more information visit, please visit www.geoswift.com or send in your queries to info@geoswift.com.

About Forbes Councils

Forbes partnered with the founders of Young Entrepreneur Council (YEC) to launch Forbes Councils, invitation-only communities for world-class business professionals in a variety of industries. Members, who are hand-selected by each Council’s community team, receive personalized introductions to each other based on their specific needs and gain access to a wide range of business benefits and services, including best-in-class concierge teams, personalized connections, peer-to-peer learning, a business services marketplace, and the opportunity to share thought leadership content on Forbes.com. For more information about Forbes Finance Council, visit https://forbesfinancecouncil.com/. To learn more about Forbes Councils, visit forbescouncils.com.

SOURCE Geoswift

CONTACT: Cognito, Prisita Menon / Liz Asri, geoswift.asia@cognitomedia.com, +65-6221-7310

AvaTrade Reduces Spreads Across FX Pairs and Commodities

AvaTrade, the leading forex and CFD broker, has reduced the fixed, floating and options spreads by an average of 35% across the majors and as much as 50% on some FX pairs. This change sets AvaTrade as an industry-leading broker with some of the best trading conditions, including extra-low spreads, excellent bonuses and up to 400:1 leverage.

On top of these reduced spreads, during 2017 AvaTrade has significantly increased its activity and portfolio. Entering the cryptocurrencies market, AvaTrade offers 24/7 trading on 5 top cryptocurrencies, both as pairs and individual assets. Regulated across the world, including under the Central Bank of Ireland, AvaTrade is one of the only fully regulated brokers who offer bonuses on deposits and up to 400:1 leverage.

“We are always looking to improve our offering to our clients, and constantly thrive to stay one step ahead of the industry,” says Mr. Dáire Ferguson, CEO of AvaTrade. “Customers who want great conditions without compromising on regulation and security, can find the perfect combination of all with AvaTrade. We are working relentlessly to provide new and exciting features, tools and offers to our clients,” concluded Ferguson.

Find out more about AvaTrade at http://www.avatrade.com

About AvaTrade

AvaTrade, the leading forex and CFD broker, was founded in 2006 and offers more than 250 financial instruments, top trading platforms, and a new cutting-edge mobile app, AvaTradeGO. Clients enjoy personal account managers and a 24-hour live customer service in 15 languages. AvaTrade accommodates to traders of all levels, and further ensures secured trading with advanced encryption and fully segregated accounts. AvaTrade is fully regulated in the EU, JapanAustraliaSouth Africa & BVI.

Press Contact

Orly Garini-Dil
Marcom Director
+1-646-335-0738 (Ext. 2125)
O.Garini-Dil@avatrade.com

SOURCE AvaTrade

SK Holdings Makes US$333 Million Strategic Equity Investment into ESR

SK Holdings Co., Ltd. (“SK”), one of the largest South Korean conglomerates, and e-Shang Redwood Limited (“ESR”), a leading pan-Asialogistics real estate developer, owner and operator, announced today that the two companies have signed definitive agreements for SK to invest KRW 374 billion (US$333 million) for a 10% fully diluted stake in ESR. The transaction marks SK’s first investment in the logistics real estate sector and its largest ever minority investment.  Upon closing, the transaction is expected to generate significant synergies between ESR and SK and will help ESR to further enhance its market leading position in the logistics real estate sector in South Korea and across the Asia-Pacific region.

Based in Seoul with 65 years of history, SK Group is one of the largest South Korean conglomerates with a specialty in oil & gas, telecommunications, semiconductor, petrochemicals and e-commerce businesses. As a responsible corporate citizen, SK is a national and global leader by taking active initiative in energy and chemicals, driving technological innovations in information, telecommunication, and semiconductor businesses, and enriching lives in the marketing and service sector including logistics and retail. Through its operations in over 30 countries, SK Group owns a sizable portfolio of warehouses, manufacturing plants, research centers and prime office properties.

Co-founded by Warburg Pincus and the senior management Stuart Gibson, Jeffrey Shen and Charles de Portes and backed by some of the world’s preeminent investors including APG, CPPIB, Goldman Sachs, Morgan Stanley, PGGM and Ping An, ESR is one of the largest warehousing developers, owners and managers in Asia.  As of June 2017, ESR manages 8.4 million sqm of projects with US$9.0 billion of assets under management across ChinaSouth KoreaJapan and Singapore. ESR’s customers consist of international market leaders across a broad range of industry sectors including e-commerce, retail, manufacturing and third-party logistics companies.  Some of its representative tenants include JD.com, 1haodian.com, Askul, Carrefour, DB Schenker, Daimler, and H&M.  ESR also owns the trust manager of ESR-REIT, Singapore’s first independent industrial real estate investment trust with a diversified portfolio of 49 properties and a gross asset value of over S$1.3 billion (US$0.96 billion).

HoJeong Lee, VP of SK commented, “We firmly believe that ESR is well positioned as the largest pure-play Asia-focused logistics real estate platform with a best-in-class management team to become the “Prologis” of Asia. ESR’s platform is highly complementary to our broader portfolio of businesses and this investment is also consistent with SK’s growth strategy and vision to become a ‘Global Investment Holding Company’ through active investment in market leading companies across SK’s supply chain. We believe the investment in ESR will not only bring long-term sustainable return for SK but it will also provide strong support for our warehousing needs in Asia.”

The modern warehousing industry in Asia has witnessed robust development driven by the rapid growth of e-commerce and an increasing reliance on third-party logistics providers.  According to JLL Research, e-commerce sales in China will represent over 50% of global e-commerce sales by 2018 and China’s online retail transaction value is expected to double from 2016 to 2029, exceeding US$1.5 trillion. E-commerce sales in Japan (the fourth-biggest market) are set on a similar growth trajectory and estimated to double in size to JPY 25.1 trillion (US$226.1 billion) in 2020, at an annual CAGR of 12%. In South Korea, the modern warehousing industry has been one of the fastest growing sectors between 2000 to 2015 growing threefold to reach KRW 2.3 trillion (US$2 billion) in 2015.

Jeffrey Shen and Stuart Gibson, Co-CEOs of ESR, commented, “We are very excited to welcome SK as a shareholder and a business partner.  Through its investment, we will seek to leverage SK’s strong presence in South Korea to further enhance our market leading position in the country.  Additionally, we look forward to working closely with SK to help fulfill their growing warehousing needs across the region with the goal of creating long-term value for SK and its shareholders.”

About SK Holdings

As the integrated holding company of SK Group, the mission of SK Holdings is to generate synergies among its various affiliates by enhancing management efficiencies and speedy decision making. Since its formation, SK holdings has continued to improve the strength of SK Group through active investment in new growth areas, which constitute value-centered portfolios including bio/pharmaceuticals, semiconductor materials and modules, LNG, IT services, and ICT convergence.

About ESR

ESR is a leading “pure-play” pan-Asia logistics real estate platform focusing on developing and managing institutional-quality logistics facilities that cater to third-party logistics providers, e-commerce companies, bricks-and-mortar retailers, cold-chain logistics providers and industrial companies. Co-founded by Warburg Pincus and the senior management Stuart Gibson, Jeffrey Shenand Charles de Portes and backed by some of the world’s preeminent investors including APG, CPPIB, Goldman Sachs, Morgan Stanley, PGGM and Ping An, the ESR platform represents one of the largest industrial asset manager in the Asia-Pacific region managing over 8.4 million sqm of projects in operation and under development across ChinaSouth KoreaJapan, and Singapore, with funds management offices in Hong Kong and Singapore.

Media Contacts:

SK Holdings
Hyung Jun, Kim
hjkim118@sk.com

ESR
Emma Larsson
elarsson@sg.esr.com

SOURCE Warburg Pincus

RELATED LINKS
http://www.warburgpincus.com

Peninsula Land Receives RERA Registration key for Salsette27

With the agitation among builders to get their projects registered under the Real Estate (Regulation and Development) Act (RERA) by 31st July 2017, the real estate industry is in a rush where many players are even looking at trying to get extensions considering the small time frame of three months at hand.

According to the RERA Act, if a project is not registered under RERA by July 31st, the builder is liable to be penalized up to 10% of the project cost. For agents, it is up to Rs. 10,000 for each day of violation. While several builders have already registered their projects, some are still struggling with the same. One such builder, who has its processes in place for RERA, is Peninsula Land Ltd.

Peninsula Land has delivered more than 6.4 million sq. ft. of real estate with some of the landmarks being, the Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Crossroads, CR2, Ashok Towers and Ashok Gardens. Currently, in Mumbai, Peninsula Land has two projects underway, Celestia Spaces in Sewri and Salsette27 in Byculla.

Commenting on the RERA situation, Mr. Nandan Piramal, Director, Sales & Marketing – Peninsula Land said, “Salsette27 is one of our first projects to be registered under RERA. Being a listed entity, we had our processes set even before RERA was announced to ensure complete transparency to our home buyers. We believe that this will further strengthen customer confidence in home purchases.” This Peninsula Land project is registered under MahaRERA Reg. No P51900000642.

About Peninsula Land Limited: 

Peninsula Land Limited is known for creating international landmarks that redefine India’s skyline. As part of the Ashok Piramal Group, the company is committed to creating international landmarks. They are amongst the first real estate companies to be listed on the stock exchange. This fact is the biggest indicator of their adherence to good corporate governance along with fair and transparent business practices.

Today, Peninsula Land is an integrated real estate company. Our projects include pioneering retail ventures, world-class commercial projects and residential complexes. They have delivered more than 6.4 million sq. ft. of real estate with around 18.6 million under development in Mumbai, Bengaluru, PuneGoa, Nashik and Lonavala. Some of the landmarks that Peninsula has given Mumbai include the Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Crossroads, CR2, Ashok Towers and Ashok Gardens.

 

SOURCE Peninsula Land Limited

CONTACT: Ruchi Vyas, Communicate India, ruchi.vyas@communicateindia.com, +91-9819652517

APR Energy Delivers Backup Generation for South Australia

A newly signed contract with SA Power Networks installs APR Energy as the last line of defense against power outages in South Australia, adding as much as 276MW to the grid through the use of emissions-friendly mobile gas turbines at two sites. The plants should provide critical grid stability before December 1, 2017.

“APR Energy is pleased to provide emergency back-up generation for South Australian households and businesses,” said John Campion, chairman of APR Energy, a global leader in fast-track power solutions. “Ensuring that the people of South Australia have this critically needed power quickly will play an important role in mitigating the risk of blackouts and the need for load shedding during the peak summer months.”

APR Energy’s project will comprise the newest generation of GE TM2500 turbines, featuring the latest advancements in mobile turbine technology in the industry. The turbines will be connected to the South Australia grid at substations in Edinburgh and Lonsdale. The full turnkey project includes all installation, operations and maintenance, as well as transformation from 11kV to 66kV.

“This is another important step in South Australia taking charge of its own energy future,” said Premier Jay Weatherill. “This solution will deliver long-term back-up generation for South Australia before this summer. Importantly, this solution will deliver more generation capacity than originally planned, while emitting less carbon pollution than Torrens Island Power Station” – a natural gas-power generating facility near the state capital Adelaide.

This is APR Energy’s third project in Australia – the others being for Horizon Power and Hydro Tasmania – both relying on mobile gas turbines. APR Energy’s turbine technology enables it to rapidly inject large blocks of power at the first sign of grid instability. Its turbines produce 94% lower NOx emissions, significantly less particulate matter and 20% less noise than the emissions-intensive diesel reciprocating engines typically found in the temporary power market, providing an environmentally friendly solution for South Australia.

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power, and has installed over 3,000MW of power capacity across more than 30 countries. Our fast, flexible and full-service solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

 

SOURCE APR Energy

CONTACT: Alan Chapple (Media), +1 (904) 223-2277, publicrelations@aprenergy.com, Press Photo Gallery

RELATED LINKS
http://www.APRenergy.com

APR Energy Delivers Backup Generation for South Australia

A newly signed contract with SA Power Networks installs APR Energy as the last line of defense against power outages in South Australia, adding more than 200MW to the grid through the use of emissions-friendly mobile gas turbines at two sites. The plants should provide critical grid stability before December 1, 2017.

“APR Energy is pleased to provide emergency back-up generation for South Australian households and businesses,” said John Campion, chairman of APR Energy, a global leader in fast-track power solutions. “Ensuring that the people of South Australia have this critically needed power quickly will play an important role in mitigating the risk of blackouts and the need for load shedding during the peak summer months.”

APR Energy’s project will comprise the newest generation of GE TM2500 turbines, featuring the latest advancements in mobile turbine technology in the industry. The turbines will be connected to the South Australia grid at substations in Edinburgh and Lonsdale. The full turnkey project includes all installation, operations and maintenance, as well as transformation from 11kV to 66kV.

“This is another important step in South Australia taking charge of its own energy future,” said Premier Jay Weatherill. “This solution will deliver long-term back-up generation for South Australia before this summer. Importantly, this solution will deliver more generation capacity than originally planned, while emitting less carbon pollution than Torrens Island Power Station” — a natural gas-power generating facility near the state capital Adelaide.

This is APR Energy’s third project in Australia — the others being for Horizon Power and Hydro Tasmania — both relying on mobile gas turbines. APR Energy’s turbine technology enables it to rapidly inject large blocks of power at the first sign of grid instability. Its turbines produce 94% lower NOx emissions, significantly less particulate matter and 20% less noise than the emissions-intensive diesel reciprocating engines typically found in the temporary power market, providing an environmentally friendly solution for South Australia.

About APR Energy

APR Energy is the world’s leading provider of fast-track mobile turbine power, and has installed over 3,000MW of power capacity across more than 30 countries. Our fast, flexible and full-service solutions provide customers with rapid access to reliable electricity when and where they need it, for as long as they need it. Combining state-of-the-art, fuel-efficient technology with industry-leading expertise, our scalable turnkey plants help run cities, countries and industries around the world, in both developed and developing markets. For more information, visit the Company’s website at www.aprenergy.com.

Photo – https://mma.prnewswire.com/media/540967/APR_Energy___Australia_plant.jpg
Logo – https://mma.prnewswire.com/media/378597/apr_energy_logo.jpg

 

SOURCE APR Energy

CONTACT: Alan Chapple (Media), +1 (904) 223-2277, publicrelations@aprenergy.com, Press Photo Gallery

RELATED LINKS
http://www.APRenergy.com

Hotspots All Over Singapore

Co-founder of HugProperty Mr. Ku Swee Yong co-writes an article, ‘Hotspots All Over Singapore’ with Janice Chin Li Ping and Shannon Aw Qian Tong, undergraduates from the Department of Real Estate, National University of Singapore.

What’s with All the Media Hype?

Over the past five years, dozens of articles published in mainstream media and property portals have variously labelled neighbourhoods all over Singapore as “hotspots” for investors to focus on. If we believed all the articles, we would consider almost the entire Singapore as a giant investment hotspot!

For an investor who has sufficient funds to place only one single bet, which is The Hottest Hotspot? Should we buy what these articles say and plunge in? Or should we do more homework and seek better advice from trustworthy agents?

Location

Date of publication

Weblink

Geylang

September 29, 2012

January 17, 2015

http://www.stproperty.sg/articles-property/singapore-property-news/geylang-a-growing-hot-spot-for-investors/a/87514

http://www.straitstimes.com/business/interactive-geylang-re-zoning-may-raise-condo-values

Yishun

October 04, 2013

March 04, 2013

February 26, 2016

http://www.stproperty.sg/articles-property/hdb/a-new-mixed-development-in-yishun/a/138588

http://www.stproperty.sg/articles-property/financial-guide/yishun-up-and-coming-town/a/107835

http://brandinsider.asiaone.com/thewisteria/yishun-investment-hotspot/

Jurong

August 18, 2014

http://www.straitstimes.com/singapore/6-reasons-jurong-will-be-a-truly-exciting-place

Botanic Gardens

August 14, 2015

https://www.theedgeproperty.com.sg/content/property-hotspot-botanic-gardens

Outram Park

August 20, 2015

https://www.theedgeproperty.com.sg/content/property-hotspot-pearl-bank-apartment

Paya Lebar

October 18, 2016

http://www.straitstimes.com/business/property/paya-lebar-quarter-set-to-transform-area

Hougang

May 6, 2016

http://brandinsider.straitstimes.com/starsofkovan/why-kovan-is-one-of-the-best-places-to-call-home/

District 9, 10, 11

February 12, 2017

http://www.straitstimes.com/business/property/good-time-to-buy-that-dream-home

Woodlands

April 16, 2017

http://www.straitstimes.com/singapore/housing/woodlands-to-transform-into-star-destination-of-the-north-with-new-housing

Table 1: A sample of media articles highlighting investment hotspots for private residential districts around Singapore.

Beyond the media articles, property portals and social media hype about investment hotspots are likewise plentiful and frequent. It just depends on the location of properties being marketed and how much online advertising budget marketers have.

What are the common justifications for these locations to be considered hotspots?

1. Proximity to MRT Stations and Bus Interchanges

In the context of residential properties, proximity to main transportation modes is a key criterion for most buyers. Thus, being located near to Mass Rapid Transit (MRT) stations is a big selling point and property sellers will demand a premium if their properties are within minutes’ walk to MRT stations.

Let us take a step back and reflect on this: does being close to an MRT station automatically make that residential neighbourhood an investment hotspot? Considering that one of the primary goals of the government is to make public transport the main mode of transportation and that the Land Transport Authority (LTA) has stated their objective that by 2030, 8 in 10 households will be living within 500 metres from an MRT station, will there still be a “MRT premium” by then?

There are also price maps comparing the average value of private properties around MRT stations across Singapore. A quick glance reveals that private residences within a few hundred meters of MRT stations in locations such as Pasir Ris and Choa Chu Kang can only achieve average prices below $900per square foot (psf) while properties located within the same radius of MRT stations in the prime districts command average prices above $2,000 psf.

Wow, what a surprise! The real hotspots for investors are still the prime districts!

By the year 2025, when another 50 MRT stations are added to the network, we believe that the premium of condominiums which are located near to MRT stations will almost disappear. However, the premium of a freehold property located in the prime districts will hold.

You may ask, what about the hype around Integrated Transport Hubs (ITH)? Apparently, being close to an ITH gives a residential property an added premium to those that are merely close to an MRT station or close to a bus interchange. We believe the same arguments apply:

1.     As more and more ITH’s are built, the premium of condominiums around ITH’s will be reduced.
2.     The perceived premium of ITH’s may add pressure to the locations that are merely served by MRT stations only.
3.     The prime districts in Singapore will continue to hold a premium over mass market locations regardless of the proximity to MRT stations. In other words, a private apartment 1km away from the MRT in District 9 will have a higher value than a private apartment 100m away from the MRT in District 17.

2. Amenities and “Potential Redevelopment”

The classification of hotspots also includes “perks” in the neighbourhood, such as in the case of Hougang where an article touted it as “one of the best places to call home”. The article highlighted that “nature lovers can easily escape to the rustic charms of Coney Island and Pulau Ubin”Hougang is not exactly within a five-minute bus ride to Pulau Ubin and it is only relatively nearer to Coney Island when compared to say, Jurong. In fact, you would have to drive through the towns of Sengkang and Punggol, change modes of transport at Punggol Point Jetty and loop back around the Punggol Promenade Nature Walk before you can reach the entrance of Coney Island. Sadly, the article leaves us with one conclusion: that it is scraping the bottom of the barrel in trying to glorify and elevate the Hougang precinct so that investors may pay attention to properties there.

There are other platforms that promote neighbourhood hotspots before any residential launch advertisements appear for that particular area. Property portals and discussion forums created by marketing agents frequently try to highlight the next gem to be unearthed. We urge investors to be careful and to distinguish whether the articles are written based on well-balanced research, or are hype-pieces written for marketing and promotional purposes.

In the Urban Redevelopment Authority (URA) Master Plan 2008, Paya Lebar Central was touted in the media as a regional commercial hub that will be an attractive, alternative location for businesses, bridging the distance between workplaces and homes. Riding on the promises of the Master Plan, the launch of Paya Lebar Square in 2012 was a success and the strata office units were snapped up in no time, supported by property investors who dived into the non-residential market to avoid the cooling measures imposed on residential investments.

At that time, marketing agents estimated that rentals could fetch $7 psf per month, which would give investors gross rental yields of up to 4.5% against their purchase prices of as high as $2,000 psf. Construction of Paya Lebar Square was completed in late 2014. As quoted in the Straits Times in April 2015, occupancy rates of the office units stood at 10%. About a year later in March 2016Straits Timesfollowed up on their story and found that only 50% of the office units are occupied. Half of Paya Lebar Square was vacant despite rents being adjusted lower, from the expected $7 psf per month to $4 psf per month, to attract more tenants. Investors were left with a lemony taste when market reality dashed the rosy forecasts made during the property launch.

Similarly, Geylang was introduced in an article in 2012 as a growing “hotspot for savvy property investors chasing high capital gains and rental yields” due to new residential launches, the Sports Hub in Kallang and the Paya Lebar regional financial centre. In January 2015URA held a public consultation on their proposal to rezone parts of Geylang from residential-cum-institution use to a new commercial-cum-institution use.

Property experts immediately highlighted that reducing the space for homes will boost values for existing residences. They forecast that value will rise due to potential en bloc redevelopments as higher plot ratios may be assigned with the re-zoning. With attention focused on the redevelopment potential, instead of the usual attractions in Geylang such as food, amenities and proximity to the CBD, market punters speculated that Geylang is a hidden hotspot, overlooked due to its seedy image.

In fact, neighbourhood redevelopments, new master plans and dreams of increased plot ratios are common factors employed to hype up various locations as investment hotspots.

3. Master Plan and “Future Promises”

Jurong is touted by most people as a hotspot given that the Jurong Lake District has been designated to be Singapore’s second CBD since the 2008 Master Plan. Adding to the euphoria of the High-Speed Rail (HSR) terminus that will be built next to Jurong East MRT-cum-bus interchange are the big plans for Jurong Lake District, the grand designs for Jurong Innovation District and a brand-new Tengah Forest Town that can house over 100,000 residents. Jurong is expected to be the hottest hotspot since Orchard Road!

Not that we are skeptical about the impressive makeover of Jurong, but here is the issue: are expectations running a decade ahead of reality? The announcement about the HSR has spawned many articles expressing the great potential value of residential properties in Jurong. In 2013 the authorities proclaimed an aggressive deadline: the HSR will be built by 2020. Investors, developers, property agents and their friends on social media all responded with a resounding “Invest now“!

Then in 2015, the year of completion was pushed back to 2022, and now, it is projected to be ready only in 2026. If investors had committed their money in residential properties in 2014 hoping for the game-changing element of the HSR to boost property values by 2020, would they feel a sense of regret today? Will there be further delays to the completion of the HSR? And why are property agents, analysts and the media still hyping up and speculating about the rise in property prices?

In fact, given the massive expectations about the certainty of rising property values in Jurong, we would caution investors to be extra careful about the “pent-up demand” there.

Conclusion

Most readers find it difficult to differentiate between genuine news articles and advertorials. Both online and in print, the layout of advertorials looks similar to those of news articles. Worse, some online advertorials have web addresses that resemble those from mainstream media.

It is critical for investors to discern between well-balanced media articles and hype-articles that are sometimes masked as news. Investors should be mindful that these articles may have been sponsored by advertisers to market their products and perhaps written to boost the upcoming residential launches. So, be wary of what you read, online or offline. (Including this article!)

The end result of these articles is to give the impression that the entire Singapore private residential landscape is a giant hotspot. And ironically, the more hotspots there are, the longer the authorities will keep the cooling measures intact.

Now, back to our original question: for the investor who is keen to make one single property investment, which hotspot should he invest in? HugProperty recommends investors to invest time and effort in sourcing and appointing a trustworthy agent to provide unbiased advice.

About HugProperty

HugProperty is a web-based property platform, which provides potential buyers and sellers with expert knowledge and insights, that are necessary to make informed decisions. Originally started by three co-founders, Mr. Winston Lam, Dr. Andy Teoh and Mr. Jeffery Sung in July 2016, the HugProperty team now consists of industry experts such as veteran property agent and property analyst, Mr. Ku Swee Yong and renowned mortgage expert, Ms. Ally Yang.

Through data analysis conducted by the experts, HugProperty can help make property buying and selling, an intelligent and hassle-free experience.

For more information, please contact:

Keith Jonathan / Nadia Chan
PR Communications Pte Ltd
Telephone: +65 6227 2135
Email:  keith@prcomm.com.sgnadia@prcomm.com.sg

Photo – https://photos.prnasia.com/prnh/20170731/1910000-1-a
Photo – https://photos.prnasia.com/prnh/20170731/1910000-1-b
Photo – https://photos.prnasia.com/prnh/20170731/1910000-1-c

SOURCE HugProperty

Gas Generator Market to Grow 8.01% CAGR to 2021 Says a New Research Report at ReportsnReports

Gas generator market analyst says the latest trend gaining momentum in the market is emerging alternative backup power equipment. Generators have been in use as auxiliary power equipment for a long time in residential households. However, the emergence and growing popularity of alternative backup power equipment will have a negative impact on the global gas generator market, especially the portable gas generator segment.

Complete report on Gas Generator market spread across 76 pages, analyzing 33 major companies with table of content now available at http://www.reportsnreports.com/reports/1142918-global-gas-generator-market-2017-2021.html .

According to the gas generator market report, one of the major drivers for this market is Growing popularity of gas generators. Diesel generators are noisier than gas generators and are not used in commercial and residential applications. Thus, many large end-users have started using gas generators, which has led to an increased manufacturing of gas-powered generators. End-users are opting for gas generators as, unlike a diesel generator, the work of filling a generator with gas during a power outage is eliminated.

The analysts forecast global gas generator market to grow at a CAGR of 8.01% during the period 2017-2021. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

The following companies as the key players in the global gas generator market: Caterpillar, Cummins, Generac Power Systems, and Kohler. Other Prominent Vendors in the market are: APR Energy, Aggreko, Briggs and Stratton, Camda New Energy Equipment, Cooper Corporation, Dresser-Rand, Elcos, F.G. Wilson, General Electric, Genesal Energy, GENMAC, Greaves Cotton, Guangdong Honny Power-Tech, Guangdong Westinpower, HIMOINSA, HIPOWER, JAKSON GROUP, Kirloskar Oil Engines, MAN Truck & Bus, MITSUBISHI HEAVY INDUSTRIES, Perkins Engines Company, Powerica, PR INDUSTRIAL (PRAMAC), Rolls-Royce Power Systems, Shandong Naipute Gas Power, Sudhir Power, Wärtsilä, Wuxi Baifa Power, and Yamaha Motor.

Order a copy of Global Gas Generator Market 2017-2021 report athttp://www.reportsnreports.com/purchase.aspx?name=1142918 .

Global Gas Generator Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global gas generator market for 2017-2021. To calculate the market size, the report considers the new installations/shipments/sales/volume/value.

Further, the report states that one of the major factors hindering the growth of this market is Technological advances in diesel generators impact the adoption of gas generators. In diesel engine technology, improved fuel economy continues to be the most significant development. Diesel generators are used significantly in the industrial sector, although currently, a majority of the end-users, in general, prefer gas generators. The industrial sector considers fuel economy as an important parameter while buying equipment for power backup.

Another related report is Global Diesel Generator Market for Industrial Applications 2017-2021, the analysts forecast global diesel generator market for industrial applications to grow at a CAGR of 4.65% during the period 2017-2021. The following companies as the key players in the global diesel generator market for industrial applications: Caterpillar, Cummins, Generac, and Kohler. Other Prominent Vendors in the market are: APR Energy, Atlas Copco, JCB Broadcrown, Dresser-Rand, FG Wilson, General Electric, GUANGDONG WESTINPOWER, HIMOINSA, Kirloskar Oil Engines, Mitsubishi Heavy Industries, MQ Power, MTU Onsite Energy, Perkins, Wacker Neuson, Wärtsilä, and Yanmar.

One trend in the market is generator rental services. When it comes to large diesel generators, industrial end-users are often opting for rental services instead of buying them. This trend is more evident in developing nations where the total cost of ownership is an important aspect of the total revenue earned. Revenue earned is generally evaluated in terms of revenue earned either by renting power backup equipment or from a temporary power plant. Browse complete report at http://www.reportsnreports.com/reports/1142961-global-diesel-generator-market-for-industrial-applications-2017-2021.html .

Explore other new reports on Manufacturing & Construction Market at http://www.reportsnreports.com/market-research/manufacturing/ .

About Us:

ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.

Contact:
Ritesh Tiwari
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Next to Inox Theatre,
Bund Garden Road, Pune – 411013.
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sales@reportsandreports.com

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SOURCE ReportsnReports

CNOOC Limited Announces BD Gas Field in Indonesia Commences Production

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced today the BD gas field in Indonesia has already commenced production.

Logo: http://photos.prnasia.com/prnh/20150819/8521505396LOGO

The BD gas field is located in Madura Strait at a water depth of approximately 55 meters. Main production facilities included one unmanned wellhead platform, one FPSO and four production wells. Currently, the gas field has 2 wells in production and its gas and condensate sales production is approximately 7,200 barrels oil equivalent per day. The gas field is expected to reach its Overall Development Program designed peak production of approximately 25,500 BOE per day in 2018.

Husky-CNOOC Madura Limited (HCML) is the operator of the Production Sharing Contract (PSC) for the BD gas field. Husky and CNOOC Limited each hold a 40 percent interest in HCML, while the remaining 20 percent interest is held by Samudra Energy.

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

This press release includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company’s expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, whether the transactions entered into by the Group can complete on schedule pursuant to their terms and timetable or at all, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People’s Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the Annual Report on Form 20-F filed in April of the latest fiscal year.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

For further enquiries, please contact:

Mr. Yan Cao
Deputy General Manager, Investor Relations Department
CNOOC Limited
Tel: +86-10-8452-1417
Fax: +86-10-8452-1441
E-mail: caoyan@cnooc.com.cn

Ms. Iris Wong
Hill+Knowlton Strategies Asia
Tel: +852-2894 6263
Fax:+852-2576 1990
E-mail: hl.wong@hkstrategies.com

SOURCE CNOOC Limited

IP ServerOne Announces Its New Datacenter in Cyberjaya

IP ServerOne, a leading web hosting provider in Malaysia, announced the launching of its own suite in CJ1, a new datacenter suite located in Cyberjaya, Malaysia. IP ServerOne aims to fulfill the increasing demand for security hosting infrastructure and technical efficiency covering various services, such as Public and Private Cloud, Disaster Recovery (DR), and Backup Solutions, as well as extensive data storage for local and regional corporates, e-government, insurance, medical, education, and oil and gas industries.

It will complete IP ServerOne’s four existing datacenters across Malaysia and Singapore, whereby the latest one is facilitated by intelligent Power Distribution Unit (iPDU), which is not provided by other datacenter suites in CJ1. As a Tier-3 certified datacenter, IP ServerOne provides a remote friendly fully redundant power which enables users to control the power remotely via built-in network from the iPDUs, along with enterprise-class hosting services, including Colocation, Dedicated Server, and Cloud Server in addition to complimentary value-added services.

“Our network is also equipped with Anti-DDOS system deployed locally with up to Layer 7 protection to protect all customers hosted from DDoS attack. It will protect your brand and business, even during a DDoS attack, the legitimate traffic will pass through without any service interruption.” said Lee Cheung Loongco-Founder of IP ServerOne.

All users will also enjoy low latency networks backed by multiple Tier1 IT and telecommunication providers, such as NTTPCCW Global, and Telia, which can provide a reliable network to achieve optimal application and business performances. Thus, it allows real-time networking and high frequency trading between industries in major cities of Asia, in less than 100 milliseconds.

To improve the cooling system efficiency, IP ServerOne has deployed the Cold Aisle Containment System for the 5,100 square feet datacenter. It works by separating the hot and cold air, so the IT equipments will be consistently cool, which results in a more efficient energy use thus cutting the cost for power wastage. Therefore, the datacenter can reduce the power utilization by up to 20%. It is also constructed with Top Roof Panel Fire Protection Opening Design to advance fire detection and automatic fire suppression system.

CJ1 operations are also monitored by a dedicated Network Operations Center. “Apart from biometric access system, we have highly experienced staff who works 24/7 to keep alert with all monitored endpoints and network security,” added Lee Cheung Loong. As a commitment to address information security needs, IP ServerOne is in the progress of getting ISO/IEC 27001 and PCI DSS certification for the new datacenter.

About IP ServerOne

Established in 2003, IP ServerOne aims to provide a comprehensive range of hosting solutions for customers to accomplish operational success on the Internet. The company’s key strength is demonstrated through its proven technical expertise in seamlessly integrated systems, networks and software applications as a complete solution for today’s competitive environment.

With over 3800 managed dedicated servers running simultaneously, IP ServerOne servers are now located in CJ1, AIMS, CX2, NTT Datacenters in Malaysia and Telstra in Singapore. Generally, the offered solutions are in these key areas: Dedicated Server Hosting, Cloud Hosting, Co-location, Email Hosting, Shared Hosting, DDoS Protection Solution, Managed Hosting Services and Domain Name Services. According to Hurricane Electric (a global Internet backbone operator), IP ServerOne is considered to have the best BGP network in Malaysia (source: http://bgp.he.net/country/MY).

For more information, visit www.ipserverone.com.

Media Contact:
ANGEL SAW
Marketing Executive
Tel: 603-2026-1688
Email: angelsaw@ipserverone.com

Photo – https://photos.prnasia.com/prnh/20170731/1909909-1

SOURCE IP ServerOne

CNOOC Limited Announces BD Gas Field in Indonesia Commences Production

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced today the BD gas field in Indonesia has already commenced production.

The BD gas field is located in Madura Strait at a water depth of approximately 55 meters. Main production facilities included one unmanned wellhead platform, one FPSO and four production wells. Currently, the gas field has 2 wells in production and its gas and condensate sales production is approximately 7,200 barrels oil equivalent per day. The gas field is expected to reach its Overall Development Program designed peak production of approximately 25,500 BOE per day in 2018.

Husky-CNOOC Madura Limited (HCML) is the operator of the Production Sharing Contract (PSC) for the BD gas field. Husky and CNOOC Limited each hold a 40 percent interest in HCML, while the remaining 20 percent interest is held by Samudra Energy.

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

This press release includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes are appropriate under the circumstances. However, whether actual results and developments will meet the expectations and predictions of the Company depends on a number of risks and uncertainties which could cause the actual results, performance and financial condition to differ materially from the Company’s expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, the exploration or development activities, the capital expenditure requirements, the business strategy, whether the transactions entered into by the Group can complete on schedule pursuant to their terms and timetable or at all, the highly competitive nature of the oil and natural gas industries, the foreign operations, environmental liabilities and compliance requirements, and economic and political conditions in the People’s Republic of China. For a description of these and other risks and uncertainties, please see the documents the Company files from time to time with the United States Securities and Exchange Commission, including the Annual Report on Form 20-F filed in April of the latest fiscal year.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

For further enquiries, please contact:

Mr. Yan Cao
Deputy General Manager, Investor Relations Department
CNOOC Limited
Tel: +86-10-8452-1417
Fax: +86-10-8452-1441
E-mail: caoyan@cnooc.com.cn

Ms. Iris Wong
Hill+Knowlton Strategies Asia
Tel: +852-2894 6263
Fax:+852-2576 1990
E-mail: hl.wong@hkstrategies.com

Logo – http://photos.prnasia.com/prnh/20150819/8521505396LOGO

SOURCE CNOOC Limited

Cyient Recognized as ‘Leaders in Corporate Innovation’ by Indo-American Chamber of Commerce (IACC)

Cyient, a global provider of engineering, manufacturing, geospatial, network and operations management services to global industry leaders, today announced that it has been conferred with the ‘Leaders in Corporate Innovation’ award at the 13th Indo-American Corporate Excellence (IACE) Awards ceremony conducted by the Indo-American Chamber of Commerce (IACC) in Mumbai.

Photo – https://mma.prnewswire.com/media/540601/Cyient_Krishna_Bodanapu.jpg
Logo – https://mma.prnewswire.com/media/289359/cyient_logo.jpg

The ‘Leaders in Corporate Innovation’ award recognizes businesses that have developed and employed innovative techniques for optimization of cost and operations. Cyient demonstrated excellence in all the parameters including promoting the concept of innovation among its associates and achieving business objectives.

IACE awards recognize organizations and individuals that embody the promotion of Indo-US Trade and have made outstanding contributions impacting all spheres of the corporate ecosystem – business, industry and the overall community. A distinguished independent jury, comprised of business and U.S. Government leaders, evaluated the applicants and selected the awardees, who were honored in front of an audience of over 300 people, including the Indo-U.S. business community, IACC members, U.S. and other diplomatic officials.

On receiving the award, Mr. Krishna Bodanapu, Managing Director & CEO, Cyient Limited said, “This award is a testimony to our relentless commitment to innovation. It is an honor to be recognized as ‘Leaders in Corporate Innovation’ by a reputed body like the IACC and this further strengthens our efforts to foster a culture of innovation within Cyient. I would like to thank all of our associates for consistently delivering outstanding value to our clients.”

“Cyient has excelled in the category of Corporate Innovation, showing admirable competence in innovative ideas and outdoing other nominees on various levels,” said N V Srinivasan, National President, IACC. “It is our privilege to bestow this award to Cyient and I congratulate them on this achievement.”

Started in 1968, by notable industry leaders and visionaries,, the IACC is the apex bi-lateral Chamber synergizing India-U.S. economic engagement. Today, IACC consists of 2,400 members in 12 locations, representing cross sections of American. and Indian industries. The IACC organized the 13th edition of the Indo-American Corporate Excellence Awards in Mumbai. Through these awards, the Chamber recognized the best Indian companies in the U.S. and the best U.S. companies in India

About Cyient:

Cyient (Estd: 1991, NSE: CYIENT) provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. Cyient leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems.  As a Design, Build and Maintain partner, Cyient takes solution ownership across the value chain to help clients focus on their core, innovate, and stay ahead of the curve.

Relationships form the core of how Cyient works. With nearly 14,000 employees in 21 countries, Cyient partners with clients to operate as part of their extended team, in ways that best suit their organization’s culture and requirements. Cyient’s industry focus includes aerospace and defense, medical, telecommunications, rail transportation, semiconductor, utilities, industrial, energy and natural resources.

For more information, please visit www.cyient.com.
Follow news about the company at @Cyient.

For further media inquiries, please write to press@cyient.com

SOURCE Cyient

RELATED LINKS
http://www.cyient.com

Xinyi Glass 2017 Interim Net Profit Soars 19.5% to HK$1,635.9 Million

Xinyi Glass Holdings Limited (“Xinyi Glass” or the “Group”) (stock code: 00868.HK), a leading integrated automobile glass, energy-saving architectural glass and high quality float glass manufacturer, announced its interim results for the six months ended 30 June 2017 (“1H2017”) on 31 July 2017.

During 1H2017, benefiting mainly from the significant growth of float glass business, the Group recorded a 13.5% increase in turnover to HK$6,676.8 million. Gross profit surged by 19.0% to HK$2,429.2 million and gross profit margin improved to 36.4%. Thanks to the notable sales growth of float glass business, improved average selling price, plus the increased profit contributed by Xinyi Solar, the Group’s net profit increased by 19.5% to HK$1,635.9 million, with net profit margin reaching 24.5%. Basic earnings per share were 41.64 HK cents. The Board of Directors has declared payment of an interim dividend of 20.0 HK cents per share, representing a dividend payout ratio of 48.9%.

Business Review

Float Glass – Strong Earnings Growth Attributed to Economies of Scale and Improved Market Environment

During 1H2017, float glass business recorded markedly improved earnings performance as we pushed to maximize economies of scale. Rise in average selling price, strong growth in sales volume as the demand of the architectural glass industry in the PRC gradually climbed, plus the wide float glass product mix of the Group also helped. Currently, Xinyi Glass is the largest float glass manufacturer in the PRC in terms of production capacity. It achieved a turnover of HK$3,619.0 million for the period under review, with gross profit up significantly by 82.9% to HK$1,090.0 million, and gross profit margin surged to 30.1%.

Automobile Glass – Implemented Flexible and Proactive Marketing Strategies to Explore Overseas Business Opportunities

Xinyi Glass is China’s largest exporter of automobile glass in the aftermarket sector and it has been proactive in employing diverse marketing strategies for its automobile glass business so as to bolster continuous growth of the business. Moreover, the Group is devoted to enhancing its product portfolios and exploring new overseas customers to boost its global presence. In 1H2017, the segment reported stable performance, marking turnover of HK$1,871.3 million. Meanwhile, affected by less favourable currency exchange rates, sales dropped in South America and no contribution of retail sales in Hong Kong due to the spin-off of Xinyi Automobile Glass Hong Kong Enterprises Limited (stock code: 08328.hk) in July 2016, gross profit of the business decreased by 7.7% to HK$894.4 million and gross profit margin was 47.8 % which was mainly due to the increase of float glass production cost.

Architectural Glass – Grew Steady Braced by Increasing Market Demand and Nationwide Market Coverage

Despite the continual launch of property tightening policies by the Chinese government in recent years, the overall PRC property construction industry has been on steady climb, which is expected to translate into stable demand for architectural glass. However, with the PRC energy-saving low-emission (“Low-E”) glass for construction market highly competitive and the less favourable currency exchange rates, revenue of the Group’s architectural glass segment dropped slightly for 1H2017, amounting to HK$1,186.5 million. Gross profit was HK$444.8 million and gross profit margin was down moderately to 37.5% which was mainly due to the increase of float glass production cost.

Market Analysis

The Greater China region remained as the Group’s largest market, recording a rise in turnover of 18.1% to HK$4,797.2 million, accounting for 71.9% of the Group’s total turnover. From overseas markets, turnover grew slightly by 3.0% to HK$1,879.6 million and that from North America was HK$756.2 million, accounting for 11.3% of the Group’s total turnover.

Prospects

In recent years, the glass product mix has been changing gradually and the use of glass products is constantly expanding, thus market demand is expected to stay strong in the foreseeable future. Products such as double and triple glazing Low-E glass and high quality float glass have expanding uses with the government promoting the adoption of energy-saving and green buildings materials. Furthermore, with the average selling price of float glass remains strong, the average production cost of float glass would expect to drop and would improve profitability, the Group is optimistic about its float glass business.

At the same time, the Group is speeding up penetration of overseas markets. In the second quarter of 2017, its first overseas high quality float glass production line in Malacca, Malaysia commenced operation. The second phase of the facility is being constructed and will commence operation by the second half of 2018, allowing the Group to effectively capture global demand and better serve ASEAN-based customers, being closer to them. The Group also enjoys privileged import duty treatment and will implement appropriate pricing strategy. Supported by the new production lines in Malaysia and the huge demand anticipated from the global market, specifically ASEAN, Europe and the US, the Group plans to expand its total float glass production capacity by 50% by the end of 2020.

The Group is generally optimistic about its automobile glass business, in light of the continuous demand from the huge China and global aftermarket. Therefore, the Group plans to increase the production capacity for automobile glass by 1.5% to 16,400,000 pieces per year by the end of 2017. In addition, it will continue to enhance its product offerings and capacity for OEM automobile glass, heeding the foreseeable demand growth.

Datuk LEE Yin Yee, B.B.S., Chairman of Xinyi Glass, said, “We are excited to see the Group delivering such strong growth in 1H2017, particularly float glass business, which afforded outstanding results. The credit, we believe, goes to our diversified and high-end product offerings. Moreover, at our dedicated effort to strengthen global presence, the strategic expansion in Malaysia made good progress during the period. Looking ahead, we will capitalize on economies of scale and optimize our product mix to enhance the Group’s competitive strengths. In addition, more production lines in overseas are expected to be built in the coming years, to support our active expansion in the overseas glass market, that we may capture business opportunities worldwide. With strengthening capability and the market environment improving, we are confident of continuing to attain stable development and generate lucrative returns for shareholders.”

SOURCE XINYI GLASS

CONTACT: Colin Bai, Phone Number: +852-5987-3091, Email: colinbai@financialpr.hk

Integrity Applications Announces Close of $12 Million Private Placement

Integrity Applications, Inc. (OTCQB: IGAP), maker of GlucoTrack®, a non-invasive device for measuring glucose levels in people with type 2 diabetes and pre-diabetes, announced today that it has successfully closed a private placement offering, raising approximately $12 million over the past 16 months. Accredited investors purchased units consisting of one share of Series C preferred stock, convertible into shares of the Company’s common stock at $4.50 per share, and two warrants to purchase shares of the Company’s common stock at $4.50 and $7.75 per share, respectively. The transaction was led by Andrew Garrett, a New York City based full-service investment bank and the Company’s investment advisor, which acted as sole placement agent. Since its incorporation as a U.S. Delaware based company, Integrity Applications has successfully raised approximately $35 million in equity financings exclusively through Andrew Garrett.

“This ongoing source of capital has provided us with resources to continue our progress towards a truly non-invasive solution to glucose measurement and, in addition supports the initial commercialization of GlucoTrack in Europe, as well as advances our clinical and regulatory efforts in the U.S. and China,” stated John Graham, chairman and chief executive officer of Integrity Applications. “We appreciate the continued support of Andrew Garrett, our existing shareholders and welcome our new investors to the Company.”

About GlucoTrack®
GlucoTrack® is a truly non-invasive monitoring device that rapidly measures and displays an individual’s glucose level in about a minute without finger pricking or any pain. GlucoTrack® features a small sensor that clips to the earlobe and measures the user’s glucose level using innovative and patented sensor technology. The measured signals are analyzed using a proprietary algorithm and then a calculated glucose level is displayed on a small handheld device the size of a small mobile phone. The glucose results are stored in the device and used to project an estimated HbA1c level using a proprietary algorithm. The device can also display glucose values graphically, enabling the user to monitor glucose levels over time.

GlucoTrack® has received CE Mark and KFDA approvals for type 2 diabetes and pre-diabetes, and is currently in the early stages of commercialization in EuropeSouth Korea and other geographies.

GlucoTrack® is expected to begin clinical trials for United States FDA approval in late 2017. The product is currently experimental in the United States and is limited to investigational use only.

About Integrity Applications, Inc.
Integrity Applications was founded in 2001 and is focused on the design, development and commercialization of non-invasive glucose monitoring technologies for people with type 2 diabetes and pre-diabetes. The company has developed GlucoTrack®, a proprietary non-invasive glucose monitoring device designed to obtain glucose measurements in about a minute without the pain, incremental cost, difficulty or discomfort of conventional invasive finger stick devices. Integrity Applications Inc. is a Delaware corporation, with headquarters in the United States and an R&D site in Ashdod, Israel. For more information, please visit www.integrity-app.com and www.glucotrack.com.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “expect”, “plan” and “will” are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect Integrity Applications’ actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect Integrity Applications’ results include, but are not limited to, the ability of Integrity Applications to raise additional capital to finance its operations (whether through public or private equity offerings, debt financings, strategic collaborations or otherwise); risks relating to the receipt (and timing) of regulatory approvals (including FDA approval); risks relating to enrollment of patients in, and the conduct of, clinical trials; risks relating to its current and future distribution agreements; risks relating to its ability to hire and retain qualified personnel, including sales and distribution personnel; and the additional risk factors described in Integrity Applications’ filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC on March 30, 2017.

The securities sold in the financing have not been registered under the United States Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in the US absent registration or an applicable exemption from registration requirements.

THIS PRESS RELEASE IS BEING ISSUED PURSUANT TO RULE 135C UNDER THE SECURITIES ACT AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY THE SECURITIES, NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO THE REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF SUCH STATE. ANY OFFERING OF THE SECURITIES UNDER THE RESALE REGISTRATION STATEMENT WILL ONLY BE BY MEANS OF A PROSPECTUS.

CONTACT: Sami Sassoun, CFO, 972-558-814553, samis@integrity-app.com

SOURCE Integrity Applications, Inc.

RELATED LINKS
http://www.integrity-app.com

Allot Communications to Present at the Oppenheimer 20th Annual Technology, Internet & Communications Conference in Boston

Allot Communications Ltd. (NASDAQ: ALLT; TASE: ALLT), a leading provider of security and monetization solutions that enable service providers to protect and personalize the digital experience, announced today that its executives will be speaking at the Oppenheimer 20th Annual Technology, Internet & Communications Conference.

The Oppenheimer 20th Annual Technology, Internet & Communications Conference is taking place at the Four Seasons Hotel in Boston.  Allot is scheduled to present at 3:05pm Eastern Time on Wednesday, August 9, 2017.

At the conference there will be an opportunity for investors to meet one-on-one with Erez Antebi, CEO and Alberto Sessa, CFO. Interested investors should contact the conference organizers or the Investor Relations team at Allot at allot@gkir.com.

About Allot Communications

Allot Communications Ltd. (NASDAQ, TASE: ALLT) is a leading provider of security and monetization solutions that enable service providers and enterprises to protect and personalize the digital experience. Allot’s flexible and highly scalable service delivery framework leverages the intelligence in data networks enabling enterprises and service providers to get closer to their customers; to safeguard network assets and users; and to accelerate time-to-revenue for value-added services. We employ innovative technology, proven know-how and a collaborative approach to provide the right solution for every network environment. Allot solutions are currently deployed at 5 of the top 10 global mobile operators and in thousands of CSP and enterprise networks worldwide. For more information, please visit: http://www.allot.com.

Investor Relations Contact:
GK Investor Relations
Ehud Helft/Gavriel Frohwein
+1-646-688-3559
allot@gkir.com

Public Relations Contact:
Sigalit Orr
Director Corporate Communications
International dialing +972-54-268-1500
sorr@allot.com

SOURCE Allot Communications Ltd.

Hyperloop One Goes Farther and Faster Achieving Historic Speeds

World’s First Autonomous Pod Successfully Completes Inaugural Test Run

As the only company in the world that has built an operational Hyperloop system, Hyperloop One continues to make history with the successful completion of its second phase of testing. On July 29, 2017, Hyperloop One completed Phase 2, achieving historic test speeds travelling nearly the full distance of the 500-meter DevLoop track in the Nevada desert. The Hyperloop One XP-1, the company’s first-generation pod, accelerated for 300 meters and glided above the track using magnetic levitation before braking and coming to a gradual stop.

“This is the beginning, and the dawn of a new era of transportation,” said Shervin Pishevar, Executive Chairman and Co-founder of Hyperloop One. “We’ve reached historic speeds of 310 km an hour, and we’re excited to finally show the world the XP-1 going into the Hyperloop One tube. When you hear the sound of the Hyperloop One, you hear the sound of the future.”

During phase 2, Hyperloop One achieved record speeds, in a tube depressurized down to the equivalent of air at 200,000 feet above sea level. All components of the system were successfully tested, including the highly efficient electric motor, advanced controls and power electronics, custom magnetic levitation and guidance, pod suspension and vacuum system.

With Hyperloop One, passengers and cargo are loaded into a pod, and accelerate gradually via electric propulsion through a low-pressure tube. The pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag.

“We’ve proven that our technology works, and we’re now ready to enter into discussions with partners, customers and governments around the world about the full commercialization of our Hyperloop technology,” said Hyperloop One CEO, Rob Lloyd. “We’re excited about the prospects and the reception we’ve received from governments around the world to help solve their mass transportation and infrastructure challenges.”

“Our team of engineers continues to make history at DevLoop. Only a handful of teams would have attempted something so audacious while far less could have achieved it,” said Josh Giegel, President of Engineering and Co-founder of Hyperloop One. “Through tireless preparation, dedication and hard work, we successfully completed Phase 1, proving that Hyperloop One technology works and that Hyperloop is real. Phase 2 was far more difficult as we built upon everything we learned from our initial test and accomplished faster speeds at a farther distance. We’re now one step closer to deploying Hyperloop around the world.”

Phase 2 vs. Phase 1

  • Achieved 2.7x faster speed (192 mph vs. 69 mph)
  • Went 4.5x farther distance (1,433 feet vs. 315 feet)
  • 10x longer propulsion segment (300m vs. 30m)
  • 3.5x more power to the pod (3,151hp vs. 891hp)

To view the b-roll from Phase 2 with never-before-seen footage, animation and images, click here.

About Hyperloop One

Hyperloop One is reinventing transportation by developing the world’s first Hyperloop, an integrated structure to move passengers and cargo between two points immediately, safely, efficiently and sustainably. Our team has the world’s leading experts in engineering, technology and transport project delivery, working in tandem with global partners and investors to make Hyperloop a reality, now. Headquartered in Los Angeles, the company is led by CEO, Rob Lloyd and co-founded by Executive Chairman, Shervin Pishevar and President of Engineering, Josh Giegel. For more information, please visit http://www.hyperloop-one.com.

Media Contact:
Shruti Singh
Consulting Associate
Genesis Burson Marsteller Public Relations Pvt. Ltd.
shruti.singh@bm.com
+91-9654497747

 

SOURCE Hyperloop One

Prolanceer Solves the Pain Points of Software Outsourcing Industry

Anyone who has ever approached a software development company or a design studio with a project will agree to the fact that most of them operate like a black box. As a customer one need not know about what goes behind the scenes, but a basic clarity regarding the value for money of the services subscribed to is essential. This situation inspired Narek Gevorgyan and Udit Gangwani to offer – Prolanceer – a platform that brings integrity and transparency to the process of developing software applications. The two visionaries started the company in 2016 and currently employ over 20 people and feature 300 vetted software professionals.

What are software outsourcing firms hiding?

The underlying reason for this opaqueness is that many agencies employ under-qualified talent that costs them less money. However, these companies quote exorbitant rates to the customers. This also translates into missed deadlines, sub-standard products, numerous bugs, skipped testing phases and eventual loss to the consumer.

Udit GangwaniCo-Founder, Prolanceer.comOf course, no business will share the input costs with its customers but a certain feeling of satisfaction arises when the quality of work is proportional to the price.”

Are the software developers aware?

The situation is also not very pleasant for the employees who are overclocked and underpaid. People in software development industry, especially the ones who work for multinational corporations, often complain about a stressful work environment. This results from tasks beyond the technical grasp of the employee as well as sheer quantum of work burdened on each employee. They are neither able to deliver quality output nor is the endless list of tasks ever reduced.

It is a classic example of how aggrandization of profit takes place at the cost of human resource exploitation at one end and unreliable customer experience at the other. If industry reports are to be believed then such foolhardy practices lead to either delay or failure in 70% of all outsourced software projects.

Prolanceer to the rescue

As this is a web-based product, communication between customer and developer is encouraged, thus providing complete insights to the client on quality, cost, and efficiency of the professionals developing their software. Moreover, the developers are paid according to local salaried rates of their own cities in close adherence to labor laws of the respective countries. This ensures pay-parity and a satisfied class of developers, designers, project managers and other software professionals who benefit from the grand opportunity to work independently and remotely with startups and enterprises from around the world, and earn a competitive salary.

About Prolanceer

Prolanceer is a software-as-a-service platform that connects project owners with services providers (the Members) including freelance developers, designers, project managers, testers, design studios and development agencies. Project owners can post projects on the platform and invite members to apply for it. After the project is initiated, the platform offers services to manage the execution of the project and ensures payment protection.

View the video to know more: https://www.youtube.com/watch?v=LA1gOrzxy3A .

Media Contact:
Akash Singh
Shamoor
media@shamoor.com
+91-8376903305

SOURCE Prolanceer

Floor Adhesive Market Worth 11.01 Billion USD by 2022

The report Floor Adhesive Market by Type (Epoxy, Urethane, Acrylic, and Vinyl), Application (Tile & Stone, Carpet, Wood, and Laminate), Technology (Water-based, Solvent-based and Hot-melt based), and Region – Global Forecast to 2022″, published by MarketsandMarkets™, the market is projected to grow from USD 8.54 Billion in 2017 to USD 11.01 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022.

(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 108 Market Data Tables and 63 Figures spread through 156 Pages and in-depth TOC on “Floor Adhesive Market

http://www.marketsandmarkets.com/Market-Reports/floor-adhesive-market-37475603.html

Early buyers will receive 10% customization on this report

The growth of the floor adhesive market is driven by the increasing demand for these adhesives from the residential, commercial, and industrial sectors. Epoxy and polyurethane floorings are widely used in commercial and industrial sectors, due to their high resistance to chemicals, temperature, and abrasion. These floorings are widely used in the healthcare, food, and automotive, among other industries.

Based on type, the epoxy resin segment is expected to be the largest segment of the market during the forecast period.

Epoxy adhesives consist of an epoxy resin and hardener. These adhesives are available in one-part, two-part, and film form. Epoxy adhesives form an extremely strong and durable bond with most materials. The major reason for the increasing adoption of epoxy adhesives in the flooring industry is their capacity to provide a good balance of handling characteristics and superior physical properties. These adhesives adhere well to a wide variety of substrates.

Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=37475603

Based on application, the tile & stone segment is projected to witness the highest growth during the forecast period.

Floor adhesive are extensively used to fix and joint tiles, marbles, and stones, among other materials. These adhesives provide high strength and durability and help prevent shrinkage cracks and slippages in a material. The growth of the tile & stone application segment is driven by the increasing infrastructural development in emerging countries across the globe.

Based on technology, the water-based adhesives segment is projected to be the largest segment of the market during the forecast period.

Water-based adhesives are widely used due to their low volatile organic content, and excellent shear strength, flexibility, and outstanding adhesion for diverse end use applications. Water-based adhesives are easy to handle and have better efficiency than solvent-based adhesives. These factors are expected to drive the water-based adhesives segment in the coming years.

Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=37475603

The Asia-Pacific floor adhesive market is projected to witness the highest growth during the forecast period.

The floor adhesive market in Asia-Pacific expected to witness the highest growth during the forecast period. Emerging economies, such as ChinaIndiaSouth Korea, and various Southeast Asian countries are attracting several global players to establish their manufacturing base in Asia-Pacific. These manufacturers are competing to reach an extensive customer base in countries, such as China and India to cater to the increasing demand for adhesives from the residential and industrial sectors in these countries. Increased investments in infrastructural development in the region are expected to fuel the growth of the floor adhesive market in Asia-Pacific.

Key players profiled in the floor adhesive market report are Mapei S.p.A. (Italy), Sika AG (Switzerland), Henkel AG (Germany), The Dow Chemical Company (U.S.), Wacker Chemie AG (Germany), Bostik SA (France), Forbo Holdings AG (Switzerland), Pidilite Industries Limited (India), H.B. Fuller (U.S.), and LATICRETE International, Inc (U.S.).

Browse Related Reports

Construction Adhesive Market by Type (Acrylic, Polyurethane, Polyvinyl Acetate, Epoxy, & Others), by Technology (Waterborne, Solvent Borne, Reactive, & Others), by Application (Onsite, Offsite, Civil) – Global Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/construction-adhesive-market-168524253.html

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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SOURCE MarketsandMarkets

DaDaABC Launches French, Spanish Courses in Pursuit of Diversity

DaDaABC, China’s leading online English learning platform for children, has recently launched French, and Spanish learning courses in an effort to meet a rising demand among Chinese students to master a second foreign language.

Advanced Teaching material

DaDaABC maintains high standards selecting teaching materials.

Experienced and Professional Instructors

All language instructors teaching at DaDaABC must meet the strict requirements for teaching experience, background, and certification. Every instructor must submit evidence that they are native speakers of the target language. The platform will be sticking to its one-on-one online tutoring model for its French and Spanish courses as well. DaDaABC provides its teachers full pay, and dedicating their attention to each student, thus making the learning environment more relaxed, and the learning process more effective.

Instructors include native teachers from countries such as France, and Spain, as well as bilingual teachers from French and Spanish speaking regions in Europe and North America. French teachers might come from Canada’s Quebec and Ontario provinces, where French is established to be the official language.  Spanish tutors can come from Spanish-speaking regions in the United States, such as CaliforniaTexas, or Florida.

Up to now, nearly 1,000 students have applied for these new courses and the number of applicants are rapidly increasing.

The launch of the French and Spanish courses diverse the curriculum system of DaDaABC and also conforms to the company’s “D3 strategy,” which stands for “Data”, “Diversity”, and “DaDaABC”.

“Adding two new languages goes along with our strategy to be more Diverse,” said Joyce Shen, Vice-President of Education at DaDaABC. “We will continue to deepen our understanding of our clients’ needs, develop more courses, and strive to build a diverse and authoritative international school without walls.”

Both languages, French and Spanish are widely used throughout the world, and are two of the multiple official working languages adopted by the United Nations – enabling students to integrate the world of cultural diversity.

“This endeavor is a response to the needs from parents of some of our students,” said Hui Zhi, the CEO and president of DaDaABC. “As the world becomes increasingly inter-connected, an increasing number of parents hope that their children can master a secondary foreign language, other than English – another key to the gate of diversity and globalization.”

About DaDaABC

Founded in 2013, DaDaABC is the most innovative English training institution in China. It has become one of the country’s most successful intelligent English learning platforms for children winning more than 15 awards and recognitions in 2016. DaDaABC has developed a leading English training system focused on “one-on-one online tutoring” and encouraging youngsters to learn and practice while having fun with instructors. The company has announced a total of 500 million RMB raised in a Series B and Series B+ investment round, which will be used for market expansion, curriculum development and an improved learning experience. DaDaABC helps students from mainland ChinaHong KongTaiwanSouth KoreaJapanFranceGermany and other non-English speaking countries. For more information, please visit: http://www.dadaabc.com/teacher/job

SOURCE DaDaABC

CONTACT: Elvisa Yao, elvisa.yao@dadaabc.com, +86 139 1755 7658; Richard Li, richard.lee@dadaabc.com, +86 150 2158 8924

Huawei Helps Thailand PEA Evolve its Transmission and Transformation Network to Accelerate Digital Transformation

After thoroughly analyzing Provincial Electricity Authority (PEA)’s requirements, Huawei developed a unified transmission solution customized specifically for PEA. The solution enabled PEA’s transmission and transformation network to be upgraded using customized network migration tools, entering a new stage.

“PEA’s modernized power transmission and transformation network provided by Huawei enables unified production and office services, reliable transmission of critical services, and electric power services to be migrated to all-IP network in the future. It delivers powerful performance and scalability to meet our future service requirements of the next three to five years.”

Supatat Inkhow, Regional Manager, Network Communication Department, PEA

Background

Thailand attracts millions of tourists from across the world every year. Both Phuket Island and Chiang Mai are illuminated by beautiful lights at night, which depend on consistent power supply provided by the PEA, Thailand’s largest electric power company.

PEA provides electricity power services for 17 million customers across Thailand, it has 512 substations and 914 offices, and offers power transmission of up to 10,173 cct-km, and optical fibers of 24,000 km.

Challenges

With Smart Grid delivering greater efficiency, traditional power companies need to embrace digital transformation. PEA’s early communications network for power transmission and transformation could no longer meet the demand for new IP-based services. Some equipment vendors had stopped providing boards and chips required for the existing grid, making it difficult to source spare parts and driving higher O&M costs.

In addition, old SDH devices couldn’t provide sufficient bandwidth for new services. Some existing services, such as SCADA, could run on IP networks, but PEA’s existing infrastructure impeded network evolution. These challenges prompted PEA to upgrade its network.

Solution

PEA wanted to deploy ICT to enable Smart Grid, capturing future digital opportunities. One of key priorities was to evolve its power transmission and transformation network, as the backbone of Smart Grid.

In 2014, Huawei recommended PEA consider a network upgrading, based on its deep understanding of the power industry and PEA’s business. Huawei assured PEA that many critical production and PCM services of the existing network could be moved to new network without affecting service quality and security. In addition, Huawei recognized that the new network needed to be flexible and scalable to accommodate new PEA services.

After thoroughly analyzing PEA’s requirements, Huawei developed a unified transmission solution customized specifically for PEA. The solution enabled PEA’s network to be upgraded using customized network migration tools, dual-domain bridging technology.

With this solution, PEA’s transmission and transformation network has entered a new stage:

  • Seamless, secure, and reliable interconnection between old and new network to ensure smooth network evolution

Huawei used customized migration tools to ensure the continuous availability of PEA’s critical services. The tools enable access to new services and provide spare parts servicing for up to 10 years to ensure smooth network evolution.

  • Soft and hard pipes for unified carrying of production and office services to meet future needs

TDM services, such as dispatch telephone and relay protection, are carried by mature and reliable SDH hard pipes to ensure low latency and jitter. Bandwidth-hungry services, such as office automation, are carried by MPLS-TP soft pipes to fully utilize network resources and ensure flexible and efficient transmission. This combination of hard and soft pipes supports PEA’s strategic evolution towards all-IP networking.

  • Built-in WDM and ultra-long-haul transmission technology simplifies network and reduces investment

To solve the existing network’s issue of insufficient optical fiber resources, the built-in WDM solution enables high-bandwidth transmission and conserves fiber resources by allowing one pair of fibers to uniformly carry multiple services. Furthermore, to accommodate multiple ultra-long-distance networks spanning 80 km to 200 km, Huawei applied built-in optical amplifiers to reduce the number of regeneration sites and minimize overall investment costs.

Benefits

Huawei’s unified transmission solution brought the following benefits to PEA:

  • The customized solution for PEA leverages new technologies such as PCM and Smart 40G. The solution carries both electric production and office services to support smooth evolution towards an all-IP network, while ensuring highly reliable transmission of mission-critical services.
  • Huawei’s professional technical teams planned the entire network, ensuring stable network operations. Ultra-high bandwidth and flexible scalability will meet PEA’s service development needs over the next three to five years.
  • Using Huawei’s solution, PEA has a stable network architecture that can accommodate future upgrades. This serves as an important example for power companies across the world who need to modernize their networks to drive digital transformation.

Huawei will continue to work closely with PEA to drive digital transformation. In 2016, Huawei and PEA initiated a strategic cooperation to create an innovation center to enable the two companies to develop breakthrough solutions.

Wang Yifan, General Manager of the Huawei’s Thailand office, said: “This innovation center is Huawei’s first innovation center for the electric power industry in the world. We have invested resources, personnel, and technologies. In the future, we will strengthen cooperation to effectively promote R&D practices and produce innovation results at an increasing speed to achieve win-win collaboration. This is part of Huawei’s active engagement in Thailand’s Smart City construction.”

To know more about Huawei helping enterprises achieve digital transformation, please visit http://e.huawei.com/topic/leading-new-ict-en/index.html?utm_campaign=lni17-minisiteen&utm_medium=hwdc&utm_source=ebghome-en&source=eebghq175155l

Tags: Smart Grid, Thailand, Unified Transmission Solution

SOURCE Huawei

CONTACT: Qiwei Li, 86 18025339127, liqiwei2@huawei.com

Middle East & African Paints & Coatings Market to Witness a CAGR of 6.16%, by Revenue, Till 2022 – Mordor Intelligence Study

The paints & coatings industry in the Middle East & Africa (MEA) is an emerging industry, owing to the large-scale construction projects that are currently underway. Most Middle Eastern countries have invested a considerable amount in the construction market over the last decade. This is a result of the plan to diversify their economies from oil and oil-related business activities to other industry sectors; tourism has become the major focus. The market demand for paints & coatings is increasing in the construction sector, where new infrastructural construction and multi-storied buildings are underway, which are due to be completed over the forecast period. The major countries contributing to the construction sector are Saudi ArabiaQatar, UAE, Kuwait, etc. The demand for paints & coatings in these countries is increasing at a moderate rate, as the economic scenario in these countries is still affected by the oil & gas market – a major contributor to the countries’ income sources. Al-jazeera Factory for Paints Co., National Paints, Jotun, etc., are among the top players in the Middle East & African paints & coatings market.

The Middle East & African paints & coatings market was worth USD 8.865.67 million in 2016. The architectural coatings segment occupied the highest market share, with ~76%, in terms of volume.

The paints & coatings market in MEA has been segmented by technology into water-borne, solvent-borne, radiation-cured, and others. The water-borne coatings segment is expected to record the highest growth rate during the forecast period, owing to the increasing use of water-borne adhesives in architectural coatings. The solvent-borne coatings segment dominates the industrial coatings segment, as these coatings are more efficient than other coatings.

By country, Saudi Arabia accounted for the largest market share in 2016, among other countries, such as Jordon, Egypt, UAE, QatarKuwaitSouth Africa and NigeriaEgypt and Jordon are expected to record the fastest growth rates during the forecast period, owing to the increased spending in construction activities and growing industrial activities in these countries. The Middle East & African paints & coatings market is expected to register a CAGR of 6.16%, by revenue, and 5.07%, by volume, during the forecast period.

Browse this report:  Middle East & African Paints & Coatings Market – Segmented by Technology, Resin Type, Applications and Geography (2017 – 2022)

The report can answer the following:

1. The Middle East & African (Saudi ArabiaNigeriaJordanEgyptQatarKuwait, UAE, South Africa, etc.) consumption value in the paints & coatings market.

2. The key producers of paints & coatings and their company profiles (market share, recent developments, financials and strategies).

3. The technologies used and end-user applications for paints & coatings and the market share of each type and application.

4. The different types of resins that are used in the production of paints & coatings and their market share.

5. Recent developments and trends of paints & coatings.

6. The forecasted size and growth rates for the Middle East & African paints & coatings market for 2022.

7. Key factors driving the Middle East & African paints & coatings market.

8. Key market trends impacting growth of the paints & coatings market.

9. Key factors restraining the growth of the paints & coatings market.

10. Future opportunities of the paints & coatings market.

Study Objectives:

1. To provide a detailed analysis of the market structure, along with the forecast of various segments and sub-segments of the Middle East & African paints & coatings market.

2. To provide insights about factors affecting the market growth. To analyze the paints & coatings market based on various factors, such as supply chain analysis, porters five force analysis, etc.

3. To provide historical data and forecast revenue of the market segments and sub-segments with respect to four main geographical countries.

4. To provide country-level analysis of the market with respect to the current market size and prospects.

5. To provide country-level analysis of the market, by application, technologies and the respective sub-segments.

6. To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape of the market.

7. To track and analyze competitive developments, such as joint ventures, strategic alliances, mergers & acquisitions, new product developments, and R&D in the Middle East & African paints & coatings market.

Spanning over 150 pages, the “Middle East & African Paints & Coatings (2017 – 2022)” report covers Industry Overview, Analysis of Drivers, Restraints, and Opportunities, Porter’s Analysis, Major Companies that Produce Paints & Coatings, Consumption of Paints & Coatings in the Middle East & Africa, Revenue by Country, Volume by Country, Technology Types and End-user Applications, the Middle East & African Countries’ Growth in the Market – 2012-2017, Consumption Value, Key Developments and Trend Analysis of the Market.

About Mordor Intelligence

Mordor Intelligence is a market intelligence and business advisory firm. The company operates in the business of industry analysis & consulting, in over 16 verticals. In today’s fast-paced and competitive business environment, every customer has unique information requirements. Having understood this, Mordor offers custom market intelligence and advisory services along with syndicated reports, to help them gain an edge over the competition. The company has successfully catered to over 500 (40% of fortune 500) clients since 2013.

Media Contact
Rohith Sampathi
5th Floor, Brigade Towers, Financial District,
Hyderabad, Telangana, India.
Phone: Asia Pacific: +91-9700500900
North America: +1-617-765-2493 Ext. 900
Email: rohith@mordorintelligence.com

Website: http://www.mordorintelligence.com

SOURCE Mordor Intelligence

Hexindai Partners with China UnionPay to Launch a Mobile Payment Function to Its App

Hexindai Inc. (“Hexindai” or “the Company”), a fast-growing consumer lending marketplace in China, today announced that it has partnered with China UnionPay to launch its “Quick Pass” app on Hexindai’s mobile platform. The app will allow investors on the Company’s platform to use surplus funds that have not been lent out to pay for goods and services provided by stores partnered with China UnionPay by scanning a QR code created by the app.

“Quick Pass” was jointly developed by China UnionPay and various commercial banks to provide consumers with a fast, convenient, and safe mobile payment option using POS machines in variousstores and realize mobile payment function.

“Hexindai Inc. is the first company in the industry to provide investors with a mobile payment solution that allows them to take advantage of funds that have not yet been loaned to borrowers on the platform,” commented Mr. Xinming Zhou, Chief Executive Officer of Hexindai. “This function will make it easier for investors to transfer more money to our platform knowing that they can use surplus funds for their daily consumptions. This partnership should help to enrich the functionality of our platform, provide users with another convenient service for their daily lives, enhance our brand recognition, and boost user loyalty to our platform.”

About Hexindai

Hexindai is a consumer lending marketplace based in Beijing, China that facilitates loans between borrowers and investors.

Media Contact

Hexindai Inc.
Wendy Xuan
Tel: +86 10 5985 6975
Email: media_hxd@hexindai.com

SOURCE Hexindai Inc.

SAB Holding Selects IBM Cloud to Accelerate its Mission-Critical Business Processes

IBM (NYSE: IBM) today announced that SAB Holding, an industrial conglomerate headquartered in Jeddah, Saudi Arabia, has selected IBM Cloud to host its mission-critical SAP® applications. IBM Cloud’s SAP-certified infrastructure will provide SAB Holding with the agility and speed the company needs to keep pace with business demands, while helping accelerate its business processes and fully leveraging its business data for better decision-making.

SAB Holding’s construction services subsidiary (RCC) was at a disadvantage for operating finance, payroll and inventory across multiple different systems. Time played a critical role for SAB Holding because the implementation needed to be completed within a tight timeframe for a major project.

To quickly solve this challenge and enable integrated operations, SAB Holding launched Enterprise Resource Planning (ERP) applications from SAP (S/4HANA®) to support finance, supply chain management, HR and payroll, project system and enterprise content management, delivered via the IBM Cloud. Handled and delivered by SAB Holding’s technology subsidiary, ‘SAB Innovation’, the IBM Cloud environment was implemented and ready for use within seven days with zero downtime.

With the new solution, SAB Holding benefits from a highly available IBM Cloud infrastructure that’s fully-managed by a team of experts at IBM’s cloud data center in Germany and backed by IBM’s global network spanning 19 countries and six continents. By hosting its workloads on the IBM Cloud, SAB Holding not only enjoys a highly secure environment but can scale instantaneously to accommodate the growth of its data.

Since the implementation, SAB Holding saw a decrease in the time spent managing its IT environment and launching new applications. SAB Holding employees also benefit from the new, automated processes for gathering month-end closing and status reports and can more efficiently leverage their data to make faster, better business decisions.

“Time constraint was a major challenge for us. By selecting the IBM Cloud, we were able to launch our mission-critical SAP-based ERP applications in a timely and seamless manner, without disrupting our business,” said Dr. Hatem Bakheet, CEO of SAB Innovation. “We are very pleased to have a leader in the cloud space such as IBM to support us with this transformation which will surely contribute to positive business outcomes too.”

“In a traditional IT environment, businesses may face a variety of challenges such as complex environments that can’t scale quickly or even a shortage of specialized skills,” said Tarek Zarg El Aioun, COO, IBM Saudi Arabia. “IBM Cloud will not only deliver the flexibility and scalability the business needs, but will enable SAB Holding to have its technology subsidiary focus on highly strategic initiatives, while IBM handles the day-to-day management of the cloud.”

Founded in 1990, SAB Holding is owned and chaired by Sheikh Salah Al Belawi. Its technology subsidiary, SAB Innovation, is an IBM Business Partner, reselling IBM solutions across Saudi Arabia.

About IBM Cloud
For more about IBM Cloud, visit www.ibm.com/cloud-computing.

SAP, SAP S/4HANA and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) inGermany and other countries. See http://go.sap.com/corporate/en/legal/copyright.html for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

Contact(s)
Lina El Desouky
External Relations Leader, IBM Middle East and Pakistan
Mobile: +971 54 307 2694
Email: lina.eldesouky@ae.ibm.com

SOURCE IBM

RELATED LINKS
http://www.ibm.com

prooV Raises $14 Million to Further Accelerate Innovation Between Enterprises and Startups

Series B investment led by Helios Capital and Mangrove Capital Partners to scale its proof-of-concept platform and increase global market penetration 

prooV, the world’s first Pilot-as-a-Service platform that facilitates and streamlines the Proof-of-Concept (PoC) process for startups and enterprises, today announced its $14 million Series B funding round led by Helios Capital and Mangrove Capital Partners. OurCrowd and Cerca Partners also joined the round, bringing the total financing of the company to $21.1 million.

(Logo: http://photos.prnewswire.com/prnh/20160908/405739LOGO )

prooV was founded with the goal of solving the headaches involved in running an effective PoC for both the startup and enterprise. prooV manages the entire PoC process, from the discovery via its PoC and solutions marketplace, to testing via deep mirroring of the enterprise testing environment, through to the deployment of the technology on the enterprise’s production servers. By running multiple PoCs safely and securely on prooV, enterprises and startups, save invaluable time and money compared to traditional processes. The interest in the platform has put prooV on an accelerated growth path. The company will use the funding to increase its operational footprint and headcount, and continue to enhance the platform offering. prooV will also establish a New York City office to support its expanding North American client portfolio.

“We have seen incredible demand for our platform from both leading startups and global enterprises, which came as no surprise since prooV was born out of the very serious pain points we ourselves felt from building technology companies over the years,” said Toby Olshanetsky, CEO and co-founder of prooV. “This new round of funding will help us continue to facilitate more PoCs using our proprietary technology, and push further into more industries and markets across the globe.”

Since its global launch in September 2016, prooV has experienced widespread growth from enterprises across virtually every industry that are looking to find, test-drive and implement the latest innovations. To date, prooV has over 1,000 companies signed up to its platform.

“prooV has emerged as the only platform that’s truly addressing the PoC headache permeating businesses today,” said Edouard Ullmo, Managing Director at Helios Capital. “At a time when organizations are inundated with the latest and greatest technologies to retain their competitive advantage – whether it’s cybersecurity, blockchain, mobile or many others – prooV serves as the nucleus of innovation for both startups and enterprises.”

“CIOs are key in selecting and adopting new technologies within organizations,” said Roy Saar, Partner at Mangrove Capital Partners. “We at Mangrove recognize and invest in companies we believe have the true potential to ease CIO’s lives. WalkMe, which also just announced a big round of funding, addresses this with their Digital Adoption Platform, while prooV does so with its one-of a kind PoC platform.”

About prooV

prooV™ (https://proov.io) is the first Pilot-as-a-Service platform that brings together global enterprises and startups to discover, connect, execute and evaluate Proof-of-Concepts (PoCs) through remote, secure and data-rich testing environments. Founded by serial entrepreneurs who recognized the inefficiencies in the modern PoC process, prooV offers a radical new approach to testing, tracking and analyzing vendor solutions, accelerating the journey from RFP to PoC.

Media Contacts

Liel Bari
prooV
liel@proov.io
Phone: +972-72-221-0063

Lisette Paras
Gravitate PR
lisette@gravitatepr.com
Phone: +1-415-745-9297

SOURCE prooV

Supervisory Committees for The National Center for Privatization & PPP (NCP) Established: Best Practices Blueprint for Saudi Privatization Initiative First Objective

The National Center for Privatization & PPP (NCP), the newly formed agency created to empower Saudi Arabia’s private sector, alongside the Supervisory Committees (SCs) established to manage each privatization sector, today set out the blueprint to ensure the efficient and strategic transfer of the Kingdom’s government assets to the private sector.

The Council of Ministers announced the establishment of the SCs yesterday, and these were given a definitive mandate to function as executive facilitators for multiple sectors which are to be privatized over the next 10 years.

The sectors included in the Vision 2030 under the Privatization Program are: Environment, Water and Agriculture; Transport; Energy, Industry & Mineral Resources; Labor & Social Development; Housing; Education; Health; Municipalities, Telecommunication and Information Technology and Hajj & Umrah sectors.

The role of each committee is to assess the technical, financial, legal and regulatory landscape and to establish a best practice blueprint for the privatization of the targeted entities. The Ministry of Finance, a permanent member in all the SCs, will also play a crucial role in the privatization process.

NCP will serve as a permanent member of all SCs, providing strategic guidance and support as the committees move to enhance Saudi Arabia’s economy by recruiting private sector participation through asset privatization and the formation of new public-private partnerships.

It is anticipated that the privatization process will increase the private sector’s contribution to national GDP from 40 to 65 percent.

NCP and the SCs are the first entities of their kind in the MENA region. They have been established to meet the core objectives of the privatization effort: improving the efficiency and competitiveness of the national economy, thereby boosting the quality of life for the Saudi people through stimulation of the private sector, improving the overall business environment, increasing job opportunities for Saudi nationals, reinvigorating the Kingdom’s rich mineral resources sector, developing renewable energy capacity, investing in workforce and education development and diversifying the economy.

The first step in this process is to establish a world-class center of excellence to facilitate and regulate the sale of state assets and entities.

“NCP has adopted a wide-ranging governance policy that will enable government agencies and hold each accountable as we move forward with stimulating private investment and privatization,” said Turki A. Al Hokail, CEO of the NCP.

NCP will formulate regulations, create privatization frameworks and prepare robust processes that will serve as a blueprint for agencies and entities to follow that will ensure the efficient sale of Saudi assets and to drive the privatization process forward.

“We will facilitate the smooth transfer of assets by publishing a blueprint that will deepen communication channels between government agencies, citizens and the private sector locally, regionally & internationally and serve to guide investors and participating agencies and entities through the privatization process.

“NCP was established with the purpose of setting policies, strategies, programs, bylaws, plans and tools to achieve the privatization projects objectives, thus suggesting the sectors and activities that may be privatized. The center will also set necessary standards and frameworks for sectors targeted for privatization, set principles which help the management of privatization-related projects, develop requirements to establish entities where the private sector – from inside and outside the Kingdom – may participate with government entities in the launched privatization projects.

“NCP will work with the sectors targeted for privatization to ensure their technical and financial readiness. The Center will work to assess the readiness of the macro economy of the privatization programs and contribute to managing related risks. It will work with its counterparts to identify key performance indicators related to privatization. In addition, NCP will be contributing to the training and qualification of human capital in the field of privatization to guarantee leveraging their abilities and expertise to achieve development objectives.

“Effective governance means integrating a continuous evolution of improvement to keep pace with the rising accountability and transparency expected of government. NCP will serve as an agile, performance-oriented public organization that will boost performance and increase investment opportunity in the Kingdom.”

About the National Center for Privatization & PPP (NCP)

NCP was established through the Council of Ministers Resolution on April 3, 2017 and is responsible for executing the privatization of certain government entities, a priority identified as part of the Saudi Vision 2030. NCP’s mission is to enable privatization by providing assistance in formulating regulations, creating privatization frameworks and for preparing government entities that are identified for privatization to ensure quality outcomes. The NCP team includes expertise in the areas of legal, financial, advisory, strategy, risk, marketing and human resources as well as experts in the full spectrum of Public Private Partnerships. NCP is developing the privatization pipeline which includes proposing sectors, government functions and organizations that could either be privatized or improved through a public private partnership or private investment. In addition, NCP is also responsible for developing an efficient privatization process that targeted entities will follow to solicit and engage private sector participation and for promoting those opportunities internationally.

FOR MORE INFORMATION PLEASE CONTACT:
HANI ALSAIGH, NCP – DIRECTOR GENERAL STRATEGIC COMMUNICATION & MARKETING.
M: +966 50 447 6040
E: halsaigh@mep.gov.sa

SOURCE National Center for Privatization & PPP (NCP)

Floating Power Plant Market Worth 1,440.1 Million USD by 2022

The report Floating Power Plant Market, By Power Source [Renewable (Gas Turbines, Ic Engines), Non-Renewable (Solar Panels Floating Structures, Wind Turbines, Sub-Structure)], Capacity, And Region Global Forecast To 2022, published by MarketsandMarkets™, the Floating Power Plant Market is expected to grow from an estimated USD 889.6 million in 2017 to USD 1,440.1 million by 2022, at a CAGR of 10.11%, from 2017 to 2022.

(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 75 Market Data Tables and 44 Figures spread through 171 Pages and in-depth TOC onFloating Power Plant Market: Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/floating-power-plant-market-244648750.html

Early buyers will receive 10% customization on this report

The factors driving the market includes increasing demand for power, coupled with the lack of power infrastructure, benefits over land based power plants (majorly as it eliminates the land acquisition related problems), and energy efficiency mandates and demand for clean energy (renewable energy source).

Non-Renewable is the largest power source-based market segment

The report segments the Floating Power Plant Market on the basis of power sources into non-renewable and renewable. In 2016, the non-renewable segment held the largest market share of the global Floating Power Plant Market. This growth is majorly driven by the lack of power infrastructure, coupled with the upsurge in energy demand. The non-renewable power source market is segmented into key components, such as gas turbines and IC engines.

Download PDF Brochure @ http://www.marketsandmarkets.com/pdfdownload.asp?id=244648750

Above 250 MW is the largest capacity-based market segment

The report also segments the Floating Power Plant Market by capacity into 1 MW to5 MW, 5.1 MW to 20 MW, 20.1 MW to100 MW, 100.1MW to250 MW, and above 250 MW. The capacity segment above 250 MW is projected to dominate the Floating Power Plant Market till 2022. The market share of the above 250 MW segment, is maximum, as the floating power plants which generate this amount of capacity, fall under the non-renewable segment, thus accounting for a major share of the market in the capacity segment.

Asia-Pacific is a key potential market for floating power plants

The floating power plants market is segmented into North AmericaAsia-PacificEurope, and the rest of the world (South & Central America and the Middle East & Africa). The rest of the world dominated the Floating Power Plant Market in 2016, owing to the high demand from the Middle East and African countries, which was closely followed by the Asia-Pacific region. The Asia-Pacific region is projected to dominate the Floating Power Plant Market by 2022, owing to the rise in renewable floating power plants in countries such as Japan and China, and the non-renewable floating power plants in countries such as Indonesia and Myanmar, among others.

Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=244648750

To provide an in-depth understanding of the competitive landscape, the report includes the profiles of companies, such as MAN Diesel & Turbo SE (Germany), Mitsubishi Corporation (Japan), Wartsila (Finland), General Electric Company (U.S.), Siemens AG (Germany), Caterpillar, Inc. (U.S.), Ciel & Terre International (France), Floating Power Plant A/S (Denmark), Ideol (France), Kyocera Corporation (Japan), Principle Power, Inc.(U.S.), Upsolar (Hong Kong), Vikram Solar Pvt., Ltd. (India), Yingli Solar (China), and SeaTwirl AB (Sweden), among others. The dominant players are trying to gain a foothold in developing economies and are adopting various methods to grab the market share.

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Concentrating Solar Power Market by Technology (Parabolic Trough, Power Tower, Linear Fresnel & Dish/Engine system), Components (Solar field, Power Block, and Thermal Storage), End-User (Utilities, EOR & Others), and Region – Global Forecast to 2021

http://www.marketsandmarkets.com/Market-Reports/concentrating-solar-power-market-199506567.html

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power

Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

 

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