FEATURED NEWS
- May 20, 2024Business
China Hongqiao Lightweight Research Institute deepens cooperation with German research institutions for an innovative future
Recently, China Hongqiao Lightweight Research Institute signed a research and development cooperation agreement with the Institute of Metal Forming (IBF) at RWTH Aachen University in Germany, marking a significant step forward in mutual exchange and collaboration in advanced manufacturing technology. During the visit to Germany, representatives from our Lightweight Research Institute and China Hongqiao European Innovation Center visited several German research institutions. At the Institute of Forming Technology (IUL) at Dortmund University in the Ruhr Industrial Area, Professor Tekkaya, a renowned figure in the industry, provided detailed insights into more than 70 years of technical expertise at the institute and introduced various new aluminum forming technologies. He also discussed the institute's collaboration model with well-known industrial partners in the French automotive industry and expressed expectations for further exchanges and cooperation with China Hongqiao Group. Since initiating contact with the Institute of Metallurgy and Metal Recycling (IME) at RWTH Aachen University in 2023, China Hongqiao Lightweight Research Institute and IME have held multiple technical discussions. During this visit, they confirmed their intention to collaborate on the development of recycled aluminum. This visit by our Lightweight Research Institute not only showcased our group’s leading expertise and professionalism in technology but also earned high recognition from various research institutions for our strength and research and development capabilities. The successful collaborations demonstrate the significant role played by our China Hongqiao European Innovation Center in promoting international cooperation and technological exchange for China Hongqiao, laying a solid foundation for the company's future international development and technological advancement. Source: 魏桥创业Weiqiao Pioneering Group Official WeChat Account
- May 20, 2024Business
Asia Digital Engineering (ADE) celebrates the launch of ADE Cambodia
Asia Digital Engineering (ADE), the Maintenance, Repair and Operations (MRO) subsidiary of Capital A, is thrilled to announce that ADE Cambodia Co Ltd (ADE Cambodia), a joint venture with Sivilai Asia Co Ltd, has received the Approved Maintenance Organization (AMO) certification from the Cambodia State Secretariat of Civil Aviation (SSCA). This achievement marks a significant milestone as it is the first ADE entity outside Malaysia to obtain business approvals in the country. ADE Cambodia will play a pivotal role in supporting the aviation ecosystem in Cambodia, leveraging its expertise to provide crucial MRO services not only to AirAsia Cambodia but also to other airlines operating in Cambodia's major airports. Mahesh Kumar, CEO of Asia Digital Engineering said: "We are delighted to have received approvals to commence operations of ADE Cambodia. We look forward to providing top-notch MRO solutions to airlines operating to and from Cambodia, in addition to supporting Cambodia's thriving aviation industry, which will positively impact the local economy and create job opportunities in the country. We would like to record our sincere appreciation to the Cambodia State Secretariat of Civil Aviation (SSCA) and the Cambodian Government for their warm welcome and recognition of our capabilities. Looking ahead, we are committed to investing further in state-of-the-art technologies, enhancing our capabilities, and developing a skilled workforce at our facility. This also marks the beginning of our growth journey in 2024, as we gear up to expand to other countries soon.” ADE Cambodia operations will be headquartered at Phnom Penh International Airport, Cambodia's busiest airport and primary international gateway but will expand to other airports in Cambodia as well. This strategic location positions ADE Cambodia to efficiently serve the aviation needs of the region, leveraging the airport's vital role in connecting Cambodia with the world. Tony Fernandes, Chief Executive Officer of Capital A said: We are incredibly proud of Asia Digital Engineering's accomplishments which continue to grow from strength to strength. With over 20 years of proven expertise from working with AirAsia, their goal to become the leading MRO provider in Asean and beyond, known for high quality, best value and innovative solutions is firmly on track. This milestone comes just weeks after the momentous launch of AirAsia Cambodia and its inaugural flight, underscoring Capital A's steadfast commitment to expanding our footprint for all of our associated lines of business leveraging on the success of our fast growing aviation Group.” Captain Rajesh Gill, Director of Flight Operations, AirAsia Cambodia said: “We warmly welcome Asia Digital Engineering (ADE) to Cambodia and are delighted to be their first customer. We look forward to utilising their services to enhance our operational efficiency and to continue delivering exceptional experiences to our guests.” Established in 2020, ADE has earned customer trust through its professional MRO services, digital products, glowing testimonials, and partnerships with airlines across the region. In December 2023, ADE completed its 100th C-Check within 2.5 years, setting a record time frame since inception. Looking ahead, ADE is focused on its vision to continually deliver exceptional services, expand capabilities, and remain at the forefront of the MRO industry. ADE's state-of-the-art 14-line hangar in Kuala Lumpur is scheduled to be launched in Q3 this year, further enhancing our ability to serve our clients with excellence and efficiency. ADE's dedication to maintaining the utmost quality and safety standards in aircraft MRO is emphasised by a string of milestones. Among these achievements stands the attainment of the EASA Part 145 approval from the European Union Aviation Safety Agency (EASA) complementing an extensive array of existing maintenance certifications and authorisations. END About Asia Digital Engineering (ADE) Founded in September 2020, ADE is a wholly-owned subsidiary of Capital A Berhad , based in Klia2, Kuala Lumpur, Malaysia. ADE leverages the AirAsia’s Engineering Department’s best practices and unsurpassed combined experience in the region. ADE offers a range of aircraft services for line maintenance, base maintenance, workshop, component and warehouse services, and engineering support services. Equipped with state-of-the-art infrastructure and facilities and our vast experience in airline engineering managing the world’s best low-cost airline, ADE aims to uphold the highest standards when it comes to professional integrity, quality, reliability, driving greater efficiencies and safety, for all of our customers at all times.
- May 16, 2024Business
JD.com Recognized in FORTUNE China’s ESG Impact List for Third Consecutive Year
On May 13, FORTUNE China announced its “ China ESG Impact List 2024 ,” marking JD.com’s third consecutive appearance for its exceptional performance in environmental, social, and governance (ESG). FORTUNE commended the listed companies for their significant efforts in enhancing environmental sustainability, supporting their workforce, and contributing to their communities, all while achieving continuous and inclusive growth despite economic cycles. JD.com has consistently demonstrated its dedication and standing as a responsible corporate entity across various critical ESG aspects. Leading Green Supply Chain Initiatives JD.com has been at the forefront of advocating for a sustainable supply chain. For example, it continually enhances its consumer trade-in services. Data from the Beijing Green Exchange shows that from July 1, 2022, to June 30, 2023, JD.com’s Home Appliances and Household Appliances division reduced carbon emissions by approximately 154,900 tons through recycling eight types of household appliances—equivalent to planting over 20 million trees. JD.com has pioneered innovative models such as “Internet + recycling,” seamlessly integrating online waste delivery with offline recycling. In 2024, JD.com and its partners invested 6.5 billion yuan to expand and upgrade the company’s trade-in service , now covering over 200 categories, providing efficient and convenient one-stop solutions. Empowering Employee Well-being Launched in May 2023, the “JD.com Youth City” project represents one of the largest recent investments in employee welfare, with over 6 billion yuan allocated to provide approximately 4,000 turnkey employee apartments. In promoting inclusive employment for women, JD.com has shown a strong commitment to gender equality, particularly by creating a supportive work environment for working mothers. This initiative garnered recognition from the United Nations Global Compact and inclusion in their report “ Women at Work: Chinese Companies Taking Action on Gender Equality .” Additionally, JD.com was listed in the Bloomberg Gender Equality Index (GEI) for the first time in 2023, making it the only Chinese company in the industry included in the index. Promoting Transparent Corporate Governance JD.com upholds ethical guidelines and fosters a culture of compliance and integrity driven by technology and data. In 2023, JD.com released the “ Report on Analysis of Employee Fraud Cases in Enterprises in the Internet Industry” and the “Guidelines for Evaluating the Maturity Level of Corporate Integrity and Compliance Management,” becoming the first in the industry to publish such guidelines. JD.com also champions the Anti-Corruption Sunshine Integrity Alliance, promoting integrity and compliance across the private sector. JD.com’s ESG initiatives not only reaffirm its commitment to sustainable development but also set a standard for the industry. Moving forward, JD.com will uphold its corporate mission of “Making Lives Better through Technology,” leveraging its advanced supply chain technology and service capabilities to deepen ESG practices and create even greater value for users, partners, and society as a whole. ( vivian.yang@jd.com )
- May 16, 2024Gadgets
Fujifilm Launches Mirrorless Digital Camera “FUJIFILM X-T50”
FUJIFILM Corporation announce the launch of the “FUJIFILM X-T50” (X-T50) worldwide in June and onward. The X-T50, the latest model in the X series, offers outstanding image quality, compact and lightweight body. Silver Black Charcoal silver The X-T50 is a versatile and compact camera with a lightweight body weighing approximately 438g*1 and equipped with the back-illuminated 40.2 megapixel “X-Trans™ CMOS 5 HR”*2 sensor, the “X-Processor 5” high-speed image processing engine, and a 5-axis, maximum 7.0-stop*3 in-body image stabilization function. It delivers high mobility, high image quality, and high performance, and can be used for still image shooting in a wide range of situations. The camera is equipped for the first time with the Film Simulation dial which allows users to effortlessly switch between “Film Simulation” modes to enjoy various color tone expressions as if they were changing photographic film. In addition, the camera boasts a rounded design that not only ensures a comfortable grip but also contributes to its compact size. The X-T50’s features and the Film Simulation dial will enhance the joy of photography. *1 Including battery and memory card *2 X-Trans is a trademark or registered trademark of FUJIFILM Corporation. *3 Compliant with CIPA in pitch/yaw direction, with "FUJINON Lens XF35mmF1.4 R" attached. Film Simulation dial Product Features (1) High image quality and performance achieved by high-performance sensor and high-speed image processing engine The fifth generation of the X series is equipped with the back-illuminated 40.2 megapixel “X-Trans™ CMOS 5 HR” sensor. The latest image processing algorithms deliver high resolution while maintaining a high signal-to-noise ratio. Because the improved pixel structure allows more light to be captured efficiently, ISO 125, which was the extended sensitivity in the previous model*4 can be used as the normal sensitivity. In addition, the electronic shutter can be set to a shutter speed of 1/180000 sec. at the fastest, achieving highly precise control of exposure time. This allows shooting with a wide range of scenes using a large-aperture lens with a wide aperture opening. The X-T50 features an AI-based subject detection AF, developed using deep learning technology to detect animals, birds, cars, motorcycles, bicycles, airplanes, trains, insects, and drones*5. In addition, the camera incorporates an AF prediction algorithm that surpasses the capabilities of previous models. This results in a more comfortable shooting experience for users. The “Film Simulation” function, which can express a variety of color tones, offers 20 types, including “REALA ACE”, which combines faithful color reproduction and crisp tonal gradations. Users can enjoy a wide variety of color expression according to the subject and scene. To maximize the high pixel count of approximately 40.2 megapixels,*6 the camera is equipped with a digital teleconverter function. Users can magnify their images by 1.4x and 2x. *4 "FUJIFILM X-T30 II" *5 "Bird" is used to detect insects, and "Airplane" is used to detect drones. *6 Depending on the shooting mode, the digital teleconverter may not be deactivated or selected. (2) Full range of functions to further expand the shooting range The X-T50 is equipped with a 5-axis in-body image stabilization function with a maximum of 7.0 stops yet has a compact and lightweight body weighing only 438g. While maintaining the mobility that has been a feature of previous models, the X-T50 can be handheld comfortably even in low light conditions, such as night scenes, expanding the possibilities of photography fields. The X-T50 is capable of shooting in 6.2K/30P resolution. It features a tracking AF function during video recording, ensuring high-quality and smooth footage. The X-T50 offers AUTO mode, that automatically detects the scene and selects the optimal shooting settings, simply by operating the AUTO mode switching lever on the top surface of the body. The X-T50’s subject detection and tracking capabilities ensures the subject remains focused, making it easier to capture high-quality still and moving images. (3) Adoption of product design that maximizes functional beauty The X-T50 features a new rounded body design. The new grip shape fits comfortably in the hand while maintaining a compact size for high holding performance. The new Film Simulation dial is conveniently placed on the left shoulder of the top face. Users can easily switch between a total of 20 Film Simulation modes according to the subjects and scenes, making it easier to enjoy a variety of color tones in both still and moving images. A pop-up flash integrated with the viewfinder is mounted on the top surface. It automatically controls the amount of light and is effective in dark scenes and backlit portrait photography. The X-T50 features a rear LCD monitor with a 1.84 million-dot tilt structure, as seen in previous models. In addition, the shape of the grip and the layout of the buttons on the back of the camera have been fine-tuned for more comfortable shooting of both still and moving images. Product Images Download All ZIP: 9.1MB Contact Media Contact FUJIFILM Holdings Corporation Corporate Communications Division, Public Relations Group +81-3-6271-2000 Customer Contact Please contact your nearest Fujifilm office. For information on Fujifilm subsidiaries and distributors, please access the following website. https://global.fujifilm.com/en/all-regions * Please note that the contents including the product availability, specification, prices and contacts in this website are current as of the date of the press announcement and may be subject to change without prior notice.
- May 16, 2024Gadgets
Fujifilm Launches Mirrorless Digital Camera “FUJIFILM GFX100S II”
FUJIFILM Corporation announces the launch of the “FUJIFILM GFX100S II” (GFX100S II) worldwide in June and onward. It will be the latest addition to the GFX Series of mirrorless digital cameras incorporating the large-format image sensor*1 approximately 1.7 times larger than a 35mm full-frame sensor. The GFX100S II features the newly-developed 102MP high-speed image sensor the “GFX 102MP CMOS II” and the latest high-speed image processing engine, the “X-Processor 5” all housed within a compact body weighing approximately 883g*2, making it the lightest among the 102MP large-format GFX series cameras. The camera is also equipped with a powerful image stabilizer and a high-speed, high-precision autofocus function, enhancing the user experience and immersing them in a whole new level of unparalleled image quality. FUJIFILM GFX100S II With "FUJINON Lens GF32-64mmF4 R LM WR" The GFX100S II delivers the rich tonal gradations and shallow depth of field of large-format digital cameras, and features AI-based subject detection AF, high-speed, highly precise AF that is a significant improvement over the previous model*3, and improved continuous shooting speed of up to 7.0 frames per second*4, it can accurately capture moving subjects like never before. The in-body image stabilization function has been improved from the previous model to 5-axis with a maximum of 8.0 stops*5, achieving the highest performance in the GFX series. Despite these powerful features, the camera remains lightweight and compact only at approximately 883 g, allowing users to enjoy a new level of high image quality in a wide range of situations. It also excels at producing smooth, colorful 4K/30P video for high-quality image production. The GFX100S II is a mirrorless digital camera with overwhelming descriptive power and mobility that has evolved from its predecessors, making it ideal for professional photographers as well as hobbyists who want to use large-format cameras. *1 With a diagonal length of 55mm (43.8mm W x 32.9mm H), the image sensor has an area approximately 1.7 times that of the 35mm format *2 Including attached battery and memory card *3 "FUJIFILM GFX100S" *4 When mechanical shutter is used *5 Based on CIPA standard, pitch/yaw direction, with "FUJINON Lens GF63mmF2.8 R WR" attached 1. Product features (1) Newly developed 102MP large-format sensor achieving extraordinary level of image quality The GFX 102MP CMOS II is equipped with a newly developed 102MP large-format sensor. In addition, the combination of the latest high-speed image processing engine "X-Processor 5", the "FUJINON GF Lens" that brings out overwhelming resolution, and the color reproduction technology cultivated for many years in photographic film, accurately reproduces the captured scene down to the smallest detail. The improved pixel structure has increased the number of saturated electrons in the new sensor, allowing ISO 80 to be used as the normal sensitivity; when set to ISO 80, the camera can shoot with an even wider dynamic range and lower noise than previous models*6. Improved microlens of the new sensor improves the efficiency of light utilization at the edge of the sensor. Image quality and AF accuracy at the periphery of the lens have been improved compared to previous models. A total of 20 types of Film Simulations are available, including "REALA ACE," which offers faithful color reproduction and high-contrast tonality. Users can choose from 20 Film Simulation modes to give images a diverse range of distinctive tones, as if they are changing a suitable photographic films. The camera features the Pixel Shift Multi-Shot function, which enables 4x resolution and faithful color reproduction. The function controls the In-Body Image Stabilization (IBIS) mechanism at the advanced level to shift the image sensor by 0.5 pixel at a time and shoot 16 RAW images in a quick succession. The dedicated software “Pixel Shift Combiner” is then used to combine the 16 RAW files to generate a 400MP image (in the case of "High Resolution + Real Color" method). The camera can produce an image of approximately 400 million pixels (in the case of the "High Resolution + Real Color" method). In addition, by changing the control method within the camera body and combining four RAW files shot by shifting one pixel at a time, an image of approximately 100 million pixels can be generated (in the case of the "Real Color" method). *6 When recording in 16-bit RAW (2) Powerful IBIS mechanism in a compact body enables greater accessibility to exceptional image quality The camera is equipped with a meticulously designed IBIS. The combination of a gyro sensor and an acceleration sensor accurately captures even the slightest movement, and uses image information to detect blurring, thereby improving the accuracy of its correction. These features enable the camera to achieve 5-axis and up to 8.0-stop anti-shake performance, which is an evolution from previous models. This enables comfortable hand-held shooting even in low-light conditions. While incorporating new features, the body maintains the same compact dimensions as its predecessor, measuring approximately 150mm in width, 104mm in height, and 87mm in depth. The new model is lighter than its predecessor, weighing approximately 883g, making it the lightest model in the GFX series with a 102MP large-format sensor. As with the flagship “FUJIFILM GFX100 II” model, the new model also features the BISHAMON-TEX™*7 texture that enhances grip at various angles when holding the camera. These characteristics, in combination with the ergonomically designed grip shape, provides powerful support for hand-held photography. *7 BISHAMON-TEX is a trademark or registered trademark of FUJIFILM Corporation. (3) Advanced high-speed, high-precision AF and continuous shooting performance to capture the decisive moment In addition to face and eye AF that has evolved through improved algorithms, the camera is equipped with subject detection AF by AI developed using deep learning technology. It detects animals, birds, cars, motorcycles, bicycles, airplanes, trains, insects, and drones*8. The camera automatically tracks the targeted subject while keeping it in focus, allowing the photographer to concentrate on the shutter release opportunity and composition. The camera also incorporates an AF prediction algorithm, surpassing previous models’ motion tracking abilities and enabling superior performance in fast-moving scenes. The camera achieves the continuous shooting at a maximum speed of 7.0 frames per second thanks to the improved readout speed of the newly developed high speed sensor GFX 102MP CMOS II and a newly developed shutter drive that ensures users never miss a moment worth capturing. The camera is equipped with a 5.76-million dot high-resolution EVF with a high magnification ratio of 0.84x. The EVF suppresses image drift and distortion caused by misalignment of the pupil to achieve high visibility when using the viewfinder. *8 "Bird" is used to detect insects, and "Airplane" is used to detect drones. (4) 4K/30P video recording function for high-quality video production ISO 100 can be used as the standard sensitivity thanks to the improved number of saturated electrons by the newly developed GFX 102MP CMOS II. This enables wide dynamic range and low noise shooting. The camera features a tracking AF function during video recording; when using AF-C+Wide/Tracking AF, users can easily specify the subject to be tracked by touching the screen, even in situations involving multiple subjects. Smooth 4K video recording at 30 frames per second. The camera can record 4K/30P 4:2:2 10bit to an SD card inside the camera. Additionally, Apple ProRes*9 recording is possible by connecting an external SSD via USB Type-C. *10 It is equipped with 13+stop*11 "F-log2" that allows recording of richly graded video and greatly improves flexibility in post-production. In addition, different video formats can be recorded and output on recording media and HDMI output. For example, you can record in "Flog-2" on recording media while checking video using "film simulation" on an external monitor. Compatible with the Frame.io Camera to Cloud service. Video and still image files can be uploaded directly to Frame.io, dramatically speeding up the workflow from shooting to editing. *9 Apple ProRes is a trademark of Apple Inc. registered in the U.S. and other countries. *10 Some modes cannot be recorded depending on the type of SSD. Please check our web page for SSDs that have been tested for operation. *11 Fujifilm's internal measurement 2. Optional accessories Hand grip "MHG-GFX S” The metal hand grip improves the hold when shooting with a large size telephoto lens attached and also contributes to convenience when using a tripod. 3. Membership of C2PA*12 and CAI*13 and development of a system*14 to provide context and history for digital media In recent years, it has become an important global issue to rebuild trust online by proving the authenticity of photographs and videos. To further enable creative and business activities to flourish, we have joined two organizations, the Coalition for Content Provenance and Authenticity (C2PA) and the Content Authenticity Initiative (CAI). We are collaborating with these organizations to help consumers verify content online through Content Credentials *15 and will continue to develop a system to provide context and history of digital content by providing valuable information, such as the origin and record of content, to the image file. We will gradually expand this solution to our GFX and X series line-up*16, including the GFX100S II. *12 An open, technical standards body addressing the prevalence of misleading information online through the development of technical standards for certifying the source and history (or provenance) of digital content. C2PA is a Joint Development Foundation project that publishes Content Credentials, the content provenance standard. *13 A global community of media and tech companies, NGOs, academics, and others working to promote adoption of an open industry standard for content authenticity and provenance – called Content Credentials. *14 Launch schedule by countries or regions will be announced as soon as they are finalized. *15 Content Credentials are essentially a “nutrition label” for digital content that attach secure tamper-evident metadata to digital content, which can include important information such as the creator’s name, the date an image was created, what tools were used to create an image and any edits that were made along the way. *16 Scheduled to be deployed as needed through firmware updates. (Deployment schedule to be determined). Product Images Download All ZIP: 4.9MB Contact Media Contact FUJIFILM Holdings Corporation Corporate Communications Division, Public Relations Group +81-3-6271-2000 Customer Contact Please contact your nearest Fujifilm office. For information on Fujifilm subsidiaries and distributors, please access the following website. https://global.fujifilm.com/en/all-regions * Please note that the contents including the product availability, specification, prices and contacts in this website are current as of the date of the press announcement and may be subject to change without prior notice.
- May 16, 2024Travel & Leisure
Thai AirAsia X returns to Nagoya - Gateway to the Flavors of Chubu Fly direct from Suvarnabhumi from only 3,990 THB one way
Thai AirAsia X (XJ), the leader in the best value routes to Japan, is resuming its route between Bangkok (Suvarnabhumi) and Nagoya, Japan with the maiden flight scheduled to take off this 1 August 2024.Starting off with four flights weekly on every Monday, Wednesday, Thursday and Sunday, Thai Airasia X is inviting Thai travelers to once again explore the Chubu region and enjoy its varied travel attractions. The resumption comes with a celebratory promotion starting at only 3,990 THB for a one-way trip. Book from 16 May 2024 to 2 June 2024 via the AirAsia MOVE app and at airasia.com for travel from 1 August 2024 to 29 March 2025. Mr. Tassapon Bijleveld, Chief Executive Officer of Thai AirAsia X , said: “Thai AirAsia X is strengthening its position as the leader in the best value flights to Japan, now offering four routes from Thailand to Tokyo, Osaka, Sapporo and the latest addition, Nagoya. These routes have proven to be popular amongst Thai travelers and have continued to witness a very high load factor average of around 89 percent during the first quarter of 2024. “Direct flights to Nagoya have long been highly anticipated and are in high demand. Many travelers look forward to exploring Nagoya that offers an array of attractions, including the Nagoya Castle, Ghibli Park, Oasis 21, SEA LIFE Nagoya and Legoland, while also being near other favored spots like Kamikochi, Takayama, Nabana no Sato Flower Park and Shirakawago. Nagoya is considered a gateway to central Japan and has great capacity for growth,” he said. Nagoya is also famed for its culinary culture, popularly known as Nagoya Meshi. The cuisine features dishes like Hitsumabushi (sea eel rice), Misokatsu (fried pork) and many more that are already beloved among Thai diners. Thai AirAsia X currently operates a fleet of seven A330 aircraft, flying direct from Bangkok (Suvarnabhumi) to Tokyo (2 flights daily), Osaka (up to 2 flights daily), Sapporo (daily), Seoul (up to 2 flights daily), Shanghai (up to 1 flight a day), Sydney (3 flights weekly) and now Nagoya with 4 flights weekly.
- May 16, 2024Business
Seatrium Awarded Repeat FPSO Integration Contract from SBM Offshore
Seatrium Limited (Seatrium or the Group) is pleased to announce that it has been awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of a Floating Production Storage and Offloading (FPSO) vessel. Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas) of Seatrium said, "We are honoured to be able to support SBM Offshore and ExxonMobil Guyana in contributing to the oil and gas industry in Guyana with yet another FPSO for deployment in the Stabroek block. FPSO Jaguar reinforces Seatrium’s standing as the world leader in the conversion and integration of FPSOs, marking our 29th major project for SBM Offshore, a strong affirmation of our client’s confidence in Seatrium as a partner of choice in floating production systems.” Seatrium’s scope of work includes the fabrication of several topsides modules, riser, mooring and umbilical structures, followed by the installation and integration of these structures and all topside modules for the FPSO Jaguar. The Group will also support SBM Offshore with pre-commissioning and commissioning work. The FPSO Jaguar is designed to produce 250,000 barrels of oil per day (bopd) and an associated gas treatment capacity of 540 million cubic feet per day (mmscfd), water injection capacity of 300,000 barrels of water per day (bwpd), and a storage capacity of two million barrels of oil. Work is expected to commence in the third quarter of this year; upon completion, the FPSO will be deployed to serve in the Whiptail Field, Offshore Stabroek Block, Guyana for ExxonMobil Guyana. To date, Seatrium has been involved in delivering three FPSO projects, namely FPSO Liza Destiny, FPSO Liza Unity and FPSO Prosperity, as part of the series of FPSOs bound for the Stabroek block in offshore Guyana. Seatrium is also on track to deliver its fourth Guyanese FPSO project, ONE GUYANA FPSO to SBM. In recent years, Guyana has emerged as the world’s fastest-growing oil region since its first offshore discovery back in 2015. –End – About Seatrium Limited Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types. The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation. As a premier global player offering offshore renewables, new energies and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality and performance to its customers which include major energy companies, vessel owners and operators, shipping companies, and cruise and ferry operators. Seatrium operates shipyards, engineering & technology centres and facilities in Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, the United Arab Emirates, the United Kingdom and the United States. Discover more at www.seatrium.com For more information, please contact: Ms Judy Tan Head, Investor Relations and Corporate Communications Tel No: +65 9710 9784 Email: judy.tan@seatrium.com Ms Clarissa Ho Senior Manager, Investor Relations and Corporate Communications Tel No: +65 9632 1253 Email: shufang.ho@seatrium.com
- May 16, 2024Business
IJM and Network Rail Property's Innova partnership secures eight Central London sites for development
Innova, a partnership between RMS (England) 2 Limited (a United Kingdom subsidiary of IJM Land Berhad, the Property division of IJM Corporation Berhad) and Network Rail Property, has secured the opportunity to develop eight strategic sites across four London boroughs: Brent, Camden, Islington, and Westminster. These sites, all located in Central London and its inner suburbs, are positioned above or adjacent to railway infrastructure. They collectively hold the potential to deliver up to 3.55 million square feet of development, encompassing a mix of housing, life sciences, student accommodation, and various commercial uses such as offices and logistics. Approximately 1,600 new homes could be created, with an estimated gross development value exceeding £3 billion (RM17.8 billion). IJM entered into the Innova partnership with Network Rail Property last year with the objective of developing mixed-use schemes on brownfield land. Building on the success of the Royal Mint Gardens project, where IJM Land delivered a 150-metre deck above the Docklands Light Railway lines at Tower Hill, IJM Land is now embarking on the final phase of 650,000 square feet over-rail mixed-use project, which has already delivered 36% affordable housing. Innova is set to replicate this success with eight new sites following in the footsteps of Royal Mint Gardens. Detailed infrastructure and enabling design works are currently underway. Consultation and engagement with key stakeholders and planning authorities on the regeneration schemes will occur throughout 2024, with enabling works and over-site construction scheduled to begin promptly after planning approvals. Robin Dobson, Group Property Director for Network Rail , stated: "This is another milestone in our continued investment into delivering infrastructure-led regeneration projects in the capital. These are complex sites, and working together, we are bringing forward locations that have previously appeared undevelopable. With the blend of IJM Land’s and Network Rail Property’s experience, we have ambitious regeneration plans for multiple sites in this partnership." Lee Chun Fai, Group CEO and Managing Director of IJM Corporation Berhad , commented: "We are fully committed to this partnership and are embracing the opportunity to work closely with Network Rail and stakeholders across London. Our experience in delivering challenging rail interface projects positions us well to maximise the potential of these sites. As urban centres worldwide increasingly prioritise transit-oriented development, our projects not only respond to the demand for more integrated and accessible urban spaces with a priority on housing, but also contribute significantly to economic revitalisation and sustainability.” - End - Royal Mint Gardens Royal Mint Gardens was IJM Land’s maiden project in London. Close to the Tower of London and completed in 2019, the 315,000 square feet mixed-use development comprises three condominium blocks of up to 15 storeys, built over two active railway lines. The 256 private residential units are constructed over the Docklands Light Railway and cantilevers over a Victorian Network Rail viaduct at Tower Hill Station, which required the construction of an encapsulation structure over live railway lines. There is a 446-bedroom aparthotel and 79 residential units being delivered as part of the second phase of this project. About IJM Land Established in 1989, IJM Land Berhad is the property arm of IJM Corporation Berhad – one of Malaysia’s leading conglomerates with businesses in construction, property development, manufacturing and quarrying and infrastructure concessions. Being one of Malaysia’s leading property developers with 2,799 acres of remaining landbank in Malaysia and abroad and a Gross Development Value (GDV) of RM43.5 billion, our diversified portfolio of integrated townships, residential, commercial and investment properties, as well as industrial park in strategic growth areas across Malaysia covering Penang, Pahang, Klang Valley, Negeri Sembilan, Johor, Sabah and Sarawak. It also marks its presence in the United Kingdom through its overseas ventures with the much sought-after project Royal Mint Gardens in Central London. With a track record of 34 years, we strongly believe in delivering quality products and services to our stakeholders. Our unwavering commitment to architectural and quality excellence is reflected in our award-winning developments as well as the smiles of our community members. For more information on IJM Land, please visit www.ijmland.com . About IJM Corporation Berhad IJM Corporation Berhad (“IJM”), formed in 1983, today ranks as one of Malaysia’s leading construction groups with an international footprint forged by its four core businesses: construction, property development, industry (quarrying and the manufacture of building materials) and infrastructure concessions. IJM holds leading positions across all its business divisions. Its growth is the direct result of strong leadership, dedicated employees, financial prudence and commitment to good governance and quality. The Group presently has a market capitalisation of around RM9.05 billion and as of September 2023, the Group employed around 3,000 employees and had total assets of RM20.6 billion. For more information, visit www.ijm.com For media enquiries, please contact: Ms. Mandy Chen, Corporate Communications, at mandychen@ijm.com or + 60 12 607 6121 Mr. Shane Guha Thakurta, Investor Relations, at shane@ijm.com or + 60 3 7985 8041
- May 15, 2024Business
Indorama Ventures drives environmental stewardship at weightlifting’s 2024 IWF World Cup in Phuket
Indorama Ventures Public Company Limited, a global sustainable chemical producer, supported the Thai Amateur Weightlifting Association (TAWA) on Thailand hosting the 2024 IWF World Cup competition in Phuket. This competition was the final qualifying round for athletes aspiring to compete in the 2024 Olympic Games in Paris. As a result of their performance at the competition, held at Phuket Rajabhat University, Thailand’s athletes were able to secure four Olympics spots: two for men in the 61 kg and 73 kg categories, and two for women in the 49 kg and above 81 kg categories. The TAWA’s partnership with Indorama Ventures promotes sustainability by enhancing recycling initiatives within Thai weightlifting. The partners promoted proper PET waste management and provided disposal points for post-consumer PET waste at the venue throughout the competition. This aligns with Indorama Ventures’ approach to corporate social responsibility, harnessing the power of education to benefit the community and the environment. Collected PET bottles contributed additional income for the venue operators through recycling. In addition, Indorama Ventures provided 2,000 eco-friendly polo shirts made from Deja™100% recycled PET (rPET) yarn as souvenirs. Each polo shirt, made from twelve 600 ml PET bottles, features a breathable fabric that absorbs moisture efficiently, dries quickly, and is comfortable to wear. These initiatives encourage responsible practices in the weightlifting community and support Indorama Ventures' ambition to educate one million people globally about recycling. Mrs. Suchitra Lohia, Deputy Group CEO and Chairperson of the Corporate Social Responsibility Committee at Indorama Ventures, said, “Our partnership with the Thai Amateur Weightlifting Association is a mutual commitment to sustainability and environmental awareness. We are advancing CSR initiatives that create shared social value through recycling education and waste separation. Through our partnership with TAWA, we provide funding for Thai weightlifting athletes, who have an international reputation for their exceptional performances. We congratulate the four Thai weightlifters who will proudly represent Thailand at the Olympics this year.” Major General Intarat Yodbangtoey, Honorary President of the Thai Amateur Weightlifting Association (TAWA), expressed his gratitude, stating, "The support from Indorama Ventures transcends mere sports backing; it embodies the spirit of sportsmanship and steadfast commitment to sustainability. Their support elevates our sport and sets an exemplary standard for our social and environmental responsibilities." Gallery
- May 15, 2024Business
Axiata Group and Sinar Mas sign non-binding Memorandum of Understanding to mutually explore proposed merger of XL Axiata and Smartfren in Indonesia
Axiata Group Berhad (“ Axiata ” or “ the Group ”) and (a) PT Wahana Inti Nusantara (“ WIN ”); (b) PT Global Nusa Data (“ GND ”); and (c) PT Bali Media Telekomunikasi (“ BMT ”) ((a) to (c) collectively referred to as “ Sinar Mas ”) (Axiata and Sinar Mas collectively referred to as the “ Parties ” and each a “ Party ”) today announced that they have entered into a non-binding Memorandum of Understanding (“ MOU ”) to mutually explore a proposed merger of XL Axiata and Smartfren (“ Proposed Transaction ”) to create a new entity (“ MergeCo ”). The Proposed Transaction is at an early stage of evaluation with both Axiata and Sinar Mas intending to remain as joint controlling shareholders of MergeCo. There is no certainty that the ongoing discussions between the Parties will result in the entry into any binding agreement nor the completion of the Proposed Transaction. Validation of merger rationale and value creation to shareholders, due diligence, preparation of a joint business plan and agreement on key terms will be the principal activities carried out during the exploratory phase governed by the non-binding MOU. Any key development in relation to this MOU will be announced as required. In the event a binding agreement is to be entered into at a future point in time, the associated transaction will be subject to among others, regulatory and corporate approvals. With the intent to create a stronger telecommunications service provider in Indonesia, the proposed merger of XL Axiata and Smartfren is expected to bring together the combined scale, competencies, finances and deep telecommunication expertise of Axiata and the local scale and market knowledge of Sinar Mas to generate significant value. Both principals are expected to wield an equitable influence over the strategic direction and operational decisions of MergeCo, bolstered by their respective strengths. Axiata believes that MergeCo will have the strategic agility, competence and scale to meet increasing expectations and demand from consumers, businesses and the Indonesian public sector. MergeCo is expected to deliver superior customer experience in the telecommunications sector and create additional shareholder value including through synergies from the combined operations of XL Axiata and Smartfren. Axiata is committed to remaining a leading player in Indonesia's digital and technology landscape, rooted in its long-term vision of supporting the country's digital future. Indonesia is an important market and key to its strategic initiatives. XL Axiata is Axiata’s largest asset and from a portfolio standpoint, Indonesia is the highest value creator, where it runs five main businesses - XL Axiata, Link Net, EDOTCO, Boost and ADA. -END- About Axiata In pursuit of its vision to be The Next Generation Digital Champion, Axiata is a diversified telecommunications and digital conglomerate operating Digital Telcos, Digital Businesses and Infrastructure businesses across a footprint spanning ASEAN and South Asia. The Group has controlling stakes in market-leading mobile and fixed operators in the region including 'XL Axiata’ and ‘Link Net' in Indonesia, 'Dialog' in Sri Lanka, 'Robi' in Bangladesh, and 'Smart' in Cambodia while 'CelcomDigi' in Malaysia is a Key Associate Company. Axiata’s regional digital business verticals comprise ‘Boost’ a fintech company, and ‘ADA’, a digital analytics and AI company. 'EDOTCO' is among the top 10 independent TowerCos globally, operating in nine countries to deliver telecommunications infrastructure services. As a committed and long-term investor, the Group actively supports and drives young talent development; community outreach; as well as climate change initiatives. Axiata's broader goal of Advancing Asia aims to piece together the best in the region in terms of innovation, connectivity and talent to drive digital inclusion and sustainable progress across our markets. Find out more at www.axiata.com Issued By: Corporate Communications Axiata Group Berhad Axiata Corporate Headquarters, Axiata Tower, 9 Jalan Stesen Sentral 5, Kuala Lumpur Sentral 50470 Kuala Lumpur For further information on Axiata visit www.axiata.com For media enquiries, please contact: Sujartha Kumar Corporate Communications Tel: +6011.10.000.177 Email: sujartha@axiata.com
- May 14, 2024Business
AWC Announces Record-High Growth in Q1/2024, Expanding Quality Asset Portfolio to Meet Growing Demand in Tourism Sector, with the Hospitality EBITDA Increasing by 83% Compared to Pre-COVID Period
Mrs. Wallapa Traisorat, Chief Executive Officer and President, Asset World Corp Public Company Limited or AWC , today announced record-breaking operating results for Q1/2024 with significant growth from the strategy to expand the portfolio of quality assets, especially new operating assets in the Hospitality Business Unit that records the highest growth compared to 2019. HOTEL EBITDA (excluding Fair Value) peaked at THB 1,401 million, an 83% growth compared to the same period of 2019, surpassing pre-COVID levels, and 43% growth quarter-on-quarter. The Hospitality Business Unit continues to thrive, generating an Average Daily Rate (ADR) of THB 6,298 and Revenue Per Available Room (RevPAR) of THB 4,711. Moreover, advance bookings grew to 753,841 nights, the highest level since 2019. Net profit for the quarter was THB 1,604 million, representing an 18.1% increase quarter-on-quarter while total revenue was THB 5,440 million, a 10.3% increase quarter-on-quarter. Business Unit EBITDA (BU EBITDA) climbed to THB 2,020 million, a 38% growth compared to the same period of 2019. AWC continued to implement its GROWTH-LED Strategy, generating total asset value growth of over 80% compared to pre-COVID levels. The company also emphasizes on developing Retail Destination and implementing the ‘Co-Living Collective: Empower Future’ experience for Commercial Business Unit, as well as the transition of its assets from Ramp Up stage to Business As Usual (BAU) stage through global partnerships which contribute to increasing access to customer base from 400 million to 600 million people worldwide. Meanwhile, freehold asset is valued at 94%, driving strong cash flow growth to deliver sustainable value to shareholders and stakeholders alike. In Q1/2024, AWC’s fixed assets totaled THB 149,550 million in value. Operating assets accounted for THB 109,526 million of the total amount. New High Quarterly Performance In Q1/2024, the Hospitality Business Unit delivered an impressive performance with the revenue proportion growing to 61%. The outstanding operating results were driven by the expanding Thai tourism sector, which attracted more high-to-luxury tourists, a key target group for AWC. These tourists have supported the growth of all AWC’s hotels especially luxury resorts, Bangkok-based hotels, and other properties outside the capital, contributing to the highest RevPAR and ADR numbers. The occupancy rate in Q1/2024 was 74.8% while HOTEL EBITDA MARGIN stood at 42.1%, up by 7.5% from the previous quarter and higher than the 2019 rate. Thanks to impressive and efficient cost management, the flow-through of the Hospitality Business Unit’s EBITDA was 60% year-on-year. On the Revenue Generation Index (RGI), many of AWC’s hotels outperformed competitors in the same category and area. For example, Courtyard by Marriott Phuket Town’s RGI was 194, Bangkok Marriott Hotel The Surawongse’s RGI was 175, and Le Méridien Bangkok’s RGI was 146. AWC is determined to continuously develop, renovate, and enhance its quality properties. To increase the value of its operating assets, the company has also launched leading restaurants and cafes in both Bangkok and Chiang Mai including “Hong’s Chinese Restaurant & Sky Bar”, the first upscale rooftop Chinese restaurant in Chiang Mai at InterContinental Chiang Mai The Mae Ping, and “Cafe de Petal”, a European-inspired café at Athenee Tower. Additionally, AWC has also introduced “Pikul” application to ensure customers easy access to hotel, dining, and lifestyle services from AWC and leading partners in the tourism industry. In Q1/2024, AWC boasted 22 hotels with over 6,029 rooms and more than 80 restaurant outlets within hotels and various popular tourist destinations across Thailand. For the Retail Business Unit, AWC has formulated a strategy to respond to its target groups’ changing lifestyles and needs. The Commercial Business Unit, meanwhile, successfully, and solidly maintained its revenue level, thanks to its Grade A office buildings, which are well-equipped to support hybrid work trend. Moreover, AWC is preparing to launch “Phenix” – a ‘World’s Food Wholesale Hub with Largest Food Lounge in Pratunam’. Scheduled for an official launch on 26 June 2024, Phenix will deliver seamless services both online and offline through collaborations with various world-class partners. Additionally, AWC will soon unveil “EA Rooftop at The Empire”. The project encompasses EA Gallery, featuring leading international-cuisine eateries with breathtaking views of Bangkok, EA CHEF'S TABLE, presenting three restaurants by Michelin-starred chefs, and Nobu Bangkok, which is not only Thailand's first Nobu outlet but also the world's largest and highest Nobu restaurant. Situated at “The Empire,” an ultimate Grade A office building in the heart of Sathorn, “EA Rooftop at The Empire” promises to establish Bangkok as a global destination of largest rooftop dining experience. GROWTH-LED Strategy Empowers a Long-Term Portfolio AWC has continued to implement its GROWTH-LED Strategy in pursuit of EBITDA growth. Under this strategy, the company’s unique business model has quickly bolstered the potential of Ramp Up and repositioning of assets which totaled THB 88,339 million in Q1/2024, strengthening them to ‘Business As Usual’ (BAU) stage. Furthermore, AWC has been rigorously turning its developing assets worth over THB 40,024 million into operating assets. The five-year strategy will require an investment budget of more than THB 126,000 million. AWC has a robust debt capacity and Growth Fund Model that will enhance its quality portfolio and value in the long run. In 2024, AWC plans to develop “Lannatique” as a quality property project that will establish a world-class art, cultural and lifestyle tourism destination in the heart of Chiang Mai. AWC has also invested further in the strategic Chang Klan area to develop a luxury hotel and Chiang Mai’s first in-hotel water park. “AWC firmly believes in the value of exceptional Thai arts and culture, including the cherished Lanna arts with their longstanding significance. Our shareholders have endorsed investments in ‘Chiang Mai Night Bazaar’, ‘Kalare Night Bazaar’, and ‘The Plaza Chiangmai’ projects, which are integral to 'Lannatique’. This expansive endeavor will commence the opening of its first phase by the end of 2024, followed by subsequent phases scheduled to be completed within 5 years. It aims to foster the growth of the real estate and tourism industries, promote job creation, and stimulate the local economy to strengthen Chiang Mai's position as a world-class sustainable tourism destination. Apart from development in Chiang Mai, which has a total investment exceeding THB 11,950 million, AWC plans to further invest in two additional high-quality real estate projects located in prime areas of Bangkok. The OP Garden project is situated in the Bang Rak area, strategically connected to the flagship project, The Plaza Athenee Nobu Hotel and Spa Bangkok, along the Chao Phraya Riverbank to promote waterfront tourism destinations. Operations for this venture are expected to commence around the fourth quarter of 2027. Furthermore, there are hotel projects focusing on wellness planned for the Sukhumvit 38 area, with operations anticipated to commence around the third quarter of 2028. These developments are aligned with the commitment to support Thailand as a sustainable global tourism destination,” Mrs. Wallapa added. In Q1/2024, AWC also achieved remarkable success in sustainability, supporting Thai tourism on the global stage by achieving the highest scorer in the Hotels, Resorts & Cruise Lines industry, ranking among the Top 1% (Gold Class) on S&P Global rankings. AWC, moreover, successfully entered S&P Global’s The Sustainability Yearbook 2024. On top of these achievements, AWC has partnered with and secured long-term sustainability linked loans from leading financial institutions. AWC has successfully increased the proportion of sustainability linked loans to 100 percent. These milestones are a testament to AWC’s commitment to its “Building a Better Future” philosophy and solid efforts to establish Thailand as a global sustainable tourist destination.
- May 14, 2024Food & Beverage
Ampol Foodary Launches New Coffee Loyalty Program and Heated Food Range
Ampol Foodary has introduced a new loyalty program that rewards customers for enjoying Foodary coffee. Under the new program, customers who buy four coffees and/or hot beverages* will be able to redeem their fifth coffee or hot beverage of regular size for free. The new loyalty cards are available in-store at participating Ampol Foodary locations. Jenny O'Regan, Chief Brand Officer, Ampol, said: "Our customers love the coffee at our Ampol Foodary stores, and we want to reward them for their loyalty. “Our customers have such a strong affinity for Foodary coffee as bold, full of flavour, and setting a positive tone for the rest of their day. “We are confident that this passion for Foodary coffee from our customers will continue with this new loyalty program.” The new coffee loyalty program is available now and can be redeemed at all Ampol Foodary stores nationwide where barista or push-button machine coffee is available. In addition, Ampol Foodary is adding new delicious private label products to its heated food range across 54 stores, including the Foodary Lasagna Toppa and Foodary Cheese Potato Bites. The Foodary Lasagna Toppa is made with New Zealand beef mince, cooked in a rich Bolognese sauce, and topped with pasta and cheese. The entire creation is then encased in a golden crumb. It will retail for $4.50. The Foodary Cheese Potato Bites are croquette-like snacks that come in eight pieces, and will retail for $5.00. “The Foodary Lasagna Toppa and the Foodary Cheese Potato Bites are oven-baked and ready to be enjoyed while on the go,” Jenny said. “Our merchandise team have developed the new delicious heated food range, which we are sure our customers will love.” The Foodary Lasagna Toppa and Foodary Cheese Potato Bites will be available from participating Ampol Foodary stores from early June. Media contact: media@ampol.com.au
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