FEATURED NEWS
- May 9, 2024Business
JINGDONG Property Continues Global Expansion with Key Overseas Projects
JINGDONG Property (also known as JDP, or JD Property), a leading and fastest-growing modern logistics infrastructure development and management platform, has made significant strides in expanding its global footprint, marking its presence in Europe and Asia Pacific with 39 projects. This growth highlights JDP’s ability to rapidly establish modern logistics infrastructure in new markets. JINGDONG Property’s entry into Europe began in mid-2022 with the acquisition of a 361,000-square-foot warehouse in Milton Keynes , marking its first transaction in the U.K. In late 2023, JDP further solidified its U.K. presence by acquiring a state-of-the-art logistics warehouse in Preston. Positioned near major logistics nodes, this newly built warehouse showcases JDP’s commitment to environmental sustainability with features such as substantial EV parking, a seven-acre ecological area, BREEAM excellence certification, 15m eaves height, and 50 docks, making it a prime hub for industrial activities. In late 2022, JDP also ventured into The Netherlands with a smart logistics park in Utrecht’s ‘Lage Weide’ business park. Ideal for national, regional, and last-mile distribution, this park is close to essential transport routes and features 64 loading docks, 213 parking spaces, and solar panels, furthering JDP’s commitment to sustainable logistics and efficiency. Another key milestone was the investment in the first and second phases of Apollo, Ansty Park in mid-2023 . This development, located 10 miles northeast of Coventry City Centre in the U.K., is now a prime example of a Grade A property within JDP’s portfolio, specifically designed to support the logistics and manufacturing sectors. Apollo comprises seven units across two phases, with the first three units completed in early 2023 and fully let. These units are recognized for their sustainability, achieving BREEAM Excellent and EPC A ratings. The second phase includes four recently new completed units, designed to meet high sustainability and efficiency standards, featuring renewable energy sources like rooftop solar panels and electric vehicle charging stations. The completion of the Apollo project has significantly improved logistics and transportation efficiency in the region, providing easy access to the U.K.’s motorway network. This strategic location, combined with a focus on green and sustainable practices, not only lowers operational costs but also boosts efficiency for businesses operating within Apollo. Additionally, JDP’s growth in Asia Pacific was marked by a recent completion of a modern logistics warehouse in Indonesia , located in the Jababeka Industrial Estate next to the Cikarang Dry Port area. With 23,000 square meters of leasable area, this facility adopts a flow-through design warehouse model equipped with high-standard features for optimal logistics operations. JDP’s overseas projects have attracted partnerships with notable international and local companies, contributing to the development of a high-quality industrial cluster in the area. Looking ahead, JDP is committed to further expanding its global footprint, with a focus on delivering customized logistics infrastructure that meets the diverse needs of businesses expanding internationally. ( yuchuan.wang@jd.com )
- May 9, 2024Business
Towngas backs TERA-Award winner i2Cool in Series A to drive global green energy expansion
The Hong Kong and China Gas Company Limited (Towngas) is pleased to announce its participation in the Series A funding round for i2Cool, an energy-saving new materials company that invented the “electricity-free cooling technology”. Towngas has become one of the investors in i2Cool, with the expectation that this round of funding will help i2Cool advance its technology and product development, as well as expand into global markets. i2Cool's passive radiative cooling technology utilises a mixture of nanoparticles that achieves a solar thermal reflectivity of 95% while emitting 95% of indoor heat through mid-infrared thermal radiation, resulting in a cooling effect without needing external power sources or refrigerants. This significantly reduces the electricity consumption of air conditioners. Experiments have shown that applying the “electricity-free cooling technology” coating on the rooftops of buildings in Hong Kong can reduce surface temperatures by up to 30.3°C under climate conditions between June and July, resulting in a 42% reduction in air conditioning energy consumption. In photovoltaic applications, after coating the base and frame of Towngas’ solar panels with the passive radiative cooling coating, the heat gain problem was significantly improved, leading to an increase in power generation of up to 8%. i2Cool’s core products include electricity-free cooling coatings and films, which have been applied in over 100 projects worldwide, covering more than 20 countries and regions, including the Chinese mainland, Hong Kong, Macau, Southeast Asia, the Middle East, Europe, and the United States. These products have been used in various fields, such as construction, chemical engineering, power-line communication, new energy, logistics, grain storage, and photovoltaics. The company is also building an electricity-free cooling ecosystem to accelerate the commercialisation of diverse products such as cooling ceramics, temperature-controlled textiles, and automotive paints. The “electricity-free cooling technology” project was awarded the Gold Award in the second TERA-Award Competition. Towngas is excited to participate in investing in a company that has won the TERA-Award. Mr Alan Chan Ying-lung, Executive Chairman of the TERA-Award Organising Committee and Chief Investment Officer of Towngas, said, “We are delighted to witness i2Cool’s steady progress and robust growth in its entrepreneurial journey, and we are honoured to participate in investing in i2Cool to further promote its continuous development. This is precisely the original intention of establishing the TERA-Award - to empower the development of the green economy.” Dr Martina Zhu Yihao, Co-Founder and CEO of i2Cool, remarked, “With the support of various incubation and investment institutions, i2Cool has achieved rapid development. The support and empowerment from the TERA-Award have brought new opportunities and resources to the company. In the future, with the support of new and existing shareholders such as Towngas, i2Cool will continue to focus on the research, development, and application of the electricity-free cooling technology, providing efficient and energy-saving comprehensive cooling solutions to contribute to the promotion of low-carbon development globally.” Looking ahead, i2Cool has established an extensive cooperation network in Hong Kong and on the Chinese mainland, and is actively expanding into the global market. In particular, the company is leveraging the policies of the Belt and Road Initiative, targeting countries with hot climates, such as the Middle East and Southeast Asia, to promote the implementation of energy-saving and environmentally friendly technologies. - END - Press photos: Photo 1: Mr Alan Chan Ying-lung, Executive Chairman of the TERA-Award Organising Committee and Chief Investment Officer of Towngas, hopes that the investment in i2Cool can further promote its continuous development. Photo 2: Dr Martin Zhu Yihao, Co-Founder and CEO of i2Cool, says this financing round will fund technological research and development, product line expansion, and global market expansion. Photos 3 & 4: i2Cool is committed to the research, development, and application of its “electricity-free cooling technology”. By applying the “electricity-free cooling technology” coating on the rooftops of buildings, the daytime roof surface temperature can be reduced from 60°C to 30°C, reducing the electricity consumption of air conditioners. For media enquiries, please contact: The Hong Kong and China Gas Company Limited Mr Addie Lam Assistant General Manager – Group Corporate Affairs Tel: 2963 2578 / 6702 6449 Email: addie.lam@towngas.com Ms Kara Kwong Senior Corporate Affairs Officer Tel: 2963 3497 / 6698 3357 Email: kara.kwong@towngas.com
- May 9, 2024Business
Coles Group ranks number one in Access and Inclusion for Aussies with disabilities
Coles Group has been recognised for its continued commitment to closing the disability inclusion gap by Australia’s peak body for workplace inclusivity, ranking number one out of 40 organisations in the Access and Inclusion Index 2023. The Australian Disability Network announced the winners at the Disability Confidence Awards, acknowledging organisations who are implementing new initiatives, improving processes, or making systematic changes to their workplaces to become inclusive of employees and customers with disability. As the top performer in the Access and Inclusion Index 2023 – jumping from third place to first in two years – Coles Group continues to demonstrate its commitment to making its workplace, culture, services, and products welcoming, accessible, and supportive of people with disability. Coles Group Chief Executive Officer Leah Weckert said the organisation was incredibly proud of its ranking in the Index and was committed to continuing its momentum in closing the disability inclusion gap for its team members, customers, and the communities it serves. “Disability inclusion has been an integral part of the Coles Group strategy for a number of years and we are delighted to have made changes across our business to reflect this, most notably in our employment and workforce representation, with 7.6% of our 120,000 team members identifying as living with disability,” she said. “While we are proud of our growth in this area, we are committed to further improving the representation of our workforce who have disability, and supporting their development by providing them with the tools to progress their careers at Coles. “The Australian Disability Network’s Index is an important benchmark, and sets the tone for Australian organisations to continue to implement improvements and initiatives that help close the disability gap – no matter what rank you achieve.” Since the last Access and Inclusion Index results in 2021, Coles Group has made a number of improvements and changes to its in-store accessibility and digital customer accessibility including: Expanding Quiet Hour, the low-sensory shopping period in Coles supermarkets, to five days a week in all stores nationally. Implementing Disability Confidence Training to customer-facing team members. Currently 90.5% of team members have completed training and all new team members are required to complete. Participating in the Australian Disability Network PACE Mentoring program, matching 10 people with disability from outside Coles to our talented leaders for career mentoring. Annual testing of Coles Group’s digital experience across the Coles website, mobile app and other digital assets, with a focus group of Australians who have lived experience with disability. Launching an Autism Support Hub for leaders and team members. Working with customer focus groups to identify opportunities to improve the accessibility of more than 50 Own Brand products. The Australian Disability Network, which has more than 460 member organisations, helps businesses improve access and inclusivity in the workplace and remove barriers that limit employment and career progression for people with disability. BACKGROUND: What is Coles involvement with the Access & Inclusion Index? Under Coles’ Diversity & Inclusion focus in the area of Accessibility, it has publicly committed to take part in the Australian Disability Network’s Access and Inclusion Index to make sure it’s always working to improve its inclusion score. Coles submits a Self-Assessment to the A&I Index every two years and has fulfilled its commitment to improve its score each time as per below: For media enquiries, please contact Coles Media Line (03) 9829 5250 or media.relations@coles.com.au
- May 9, 2024Business
Ascott launches Ascott Global Academy for Excellence, learning facility to nurture and strengthen industry talent pool
Ascott’s Annual Global Conference officially kicked-off at Gardens by the Bay in Singapore with an opening greeting by Mr Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), today announced the launch of a global learning facility, Ascott Global Academy for Excellence (AGAX), as part of its year-long ‘Ascott Unlimited’ campaign to mark its 40th year of hospitality service. Unveiled at the biennial Ascott Global Conference held in Singapore this year, the launch of AGAX signifies Ascott’s commitment to strengthen its talent acquisition and retention strategy, while building a culture of continuous learning throughout its expansive network. Cultivating a strong talent pipeline to take on a future of unlimited possibilities An extension of the Ascott Centre for Excellence (ACE), a hospitality training centre in Singapore providing training courses to the wider industry, AGAX will be established in collaboration with accredited learning partners to train associates from all over the world. From apprenticeship programmes to hospitality and service training courses, AGAX will serve as a dynamic platform with a comprehensive range of offerings for learning and development. All programmes will be designed to equip Ascott associates with the skills and knowledge essential for success in the ever-evolving hospitality landscape. Recognising the diverse needs of its workforce, the academy will offer both in-person training sessions at physical locations worldwide, as well as virtual online courses accessible to Ascott associates irrespective of geographical constraints. AGAX will adopt a systematised and outcome-based learning track. It will also offer personal development programmes to equip associates with the technical know-how and best practices for the hospitality industry. AGAX is a core initiative led by the Ascott Learning Council, which is co-chaired by Ms Wong Kar Ling, Chief Strategy Officer and Managing Director, Southeast Asia for Ascott; and Mr Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott. Ms Wong Kar Ling, Chief Strategy Officer and Managing Director, Southeast Asia for Ascott, as well as co-chair of the Ascott Learning Council, unveiled plans for the launch of the Ascott Global Academy for Excellence (AGAX) Ms Wong Kar Ling said: “Against a backdrop of global change and evolving perspectives of travel, Ascott is welcoming a new era of unlimited possibilities. As we continue to build on a highly resilient flex-hybrid accommodation model and ride on the upswing of travel recovery, we need a robust and holistic talent management strategy to ensure Ascott maintains an ever-ready pool of talent. The Ascott Global Academy for Excellence is a significant milestone in our ongoing efforts to elevate employee engagement, drive operational excellence, and deliver unparalleled guest experiences. By prioritising continuous learning and development, Ascott aims to nurture a workforce that is not only adept at meeting current challenges but also poised to capitalise on future opportunities in the dynamic hospitality industry. This will allow Ascott to uplift our human capital while providing best-in-class hospitality products and services as a preferred accommodation of choice for our property owners and guests.” Mr Lee Ngor Houai added: “As Ascott embarks on this journey of growth and expansion, it is imperative that we invest in the development and empowerment of our associates and contribute to their personal and professional growth. With the launch of the Ascott Global Academy for Excellence , we aim to cultivate a culture where every Ascott associate is equipped with the tools and resources needed to thrive in their roles. The academy will focus on core competencies training to hone knowledge and deepen skillsets that will elevate Ascott’s standards in the delivery of hospitality service. Ascott also seeks to attract talents who are passionate about joining the industry by offering robust and specialised learning programmes. In addition to building a strong talent pipeline with unlimited opportunities for growth and development, Ascott will spotlight opportunities to celebrate and recognise our associates, empowering them to be at their best so that they will in turn be at their best for our guests." Mr Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott, as well as co-chair of the Ascott Learning Council; with award recipients of the Stars of Ascott Awards Driving sustainable growth with continuous engagement and unlimited opportunities for associates As Ascott remains steadfast on its transformative journey to go unlimited for associates, guests, owners, and partners, it is also building a suite of programmes that will provide associates with unlimited choices for growth, unlimited freedom to pursue physical and mental wellbeing, and unlimited opportunities to contribute to the growth and success of the business. Unlimited Choices – Tapping on talent development programmes that chart the way for career growth such as Graduate Development Programme; Ascott Management Associate Programme; Ascott Lodging Management Programme; Ascott Global Exchange Programme; and Internships and Apprenticeships . Recognising the success of associates who have benefitted from these programmes, Ascott will be launching a series of short features that showcase their stories come June 2024 across its social channels. With its continued ambition to drive tech-forward hospitality, technology continues to be a critical enabler across all aspects of Ascott business. Pipeline plans for targeted training resources and support are in place to facilitate associates’ adaptation to the accelerated rate of transformation and overall adoption of technology e.g. generative AI. Ascott is committed to nurturing a technology-driven culture where its associates feel empowered to embrace technological advancements, which will be crucial in ensuring success in the digital age of tourism ahead. Unlimited Freedom – Nurturing both the physical and mental wellbeing of its associates through tailored programmes focusing on physical fitness, mindfulness, stress management, and social activities that also build team camaraderie. By prioritising holistic development, Ascott seeks to foster a balanced and fulfilling lifestyle for its associates, to create a supportive environment where associates can thrive personally and professionally. Unlimited Good – Committing to doing good through Ascott CARES, Ascott’s sustainability framework, to make a positive impact beyond the confines of its properties. The ESG framework centres around five pillars representing the acronym CARES – Community, Alliance, Respect, Environment and Supply Chain. Ascott seeks to involve its associates not only in contributing to meaningful causes but also foster a sense of purpose and fulfillment in their roles as ambassadors of Ascott CARES. Unlimited Opportunities – Creating avenues to empower its associates to actively participate and make meaningful contributions to the growth and success of Ascott. Examples of such initiatives include the Ascott Innovation Challenge, whereby associates submit innovative ideas or plans to improve on business processes; and Ascott Moments Week, when associates are encouraged to demonstrate creativity in their delivery of brand experiences, in ways that truly exemplify the brand. These programmes are essential for a thriving workplace culture at Ascott, as they foster a deep sense of pride and ownership. Ascott executives and associates from past and present gathered at a celebratory dinner in celebration of Ascott’s 40th year of hospitality service Associates from regions around the world shared in a fireside chat, about the unlimited opportunities received along their career journey with Ascott Over 300 key associates spanning various business functions came together to network and exchange best practices through workshops and panel discussions, with sustainability being a hot topic Embracing a culture of recognition and celebrating Ascott associates At the Ascott Global Conference 2024 (AGC2024) held this week, over 300 key Ascott executives and associates convened in Singapore to discuss groupwide strategic alignment as well as to foster collaboration and innovation across its diverse workforce worldwide. Regional General Managers, General Managers, as well as leaders and associates from business functions spanning Operations, Finance, Human Resources, Brand & Marketing, and Sales & Distribution; came together to network and exchange best practices through workshops, fireside chats, and panel discussions. Recognising the indispensable role of its people, more than 100 associates from over 40 countries were presented with the coveted ‘Stars of Ascott’ Awards at AGC2024, in celebration of their outstanding achievements and in appreciation of them going the extra mile to deliver the best guest experiences.
- May 8, 2024Technology
Seatrium Signs Multi-Year Technology Collaboration Agreement with ABS to Accelerate Decarbonisation and Energy Transition
Seatrium, a global provider of engineering solutions to the offshore, marine, and energy industries, has announced a three-year Technology Collaboration Agreement (TCA) with ABS (American Bureau of Shipping) at the Offshore Technology Conference (OTC) 2024 in Houston, Texas. This agreement builds on the successful history of collaboration between the two organisations and aims to accelerate decarbonisation and energy transition in the maritime and offshore sectors. The TCA with ABS, aptly titled “Accelerating Decarbonisation & Energy Transition”, will focus on four key themes: Decarbonisation, Electrification, New Energies, and Digital Transformation. The goal is to develop and commercialise green retrofit products and services, including but not limited to carbon capture, energy efficiency enhancement measures such as air lubrication systems and wind assisted propulsion as well as the integration of low/zero carbon energy sources on offshore assets, electrification, and digital technologies. Mr Chris Ong, CEO of Seatrium, said, “Seatrium is making significant strides in our visionary approach to engineering a sustainable, low-carbon energy future. This progress is achievable through pivotal industry collaborations with organisations like ABS. We are more than just partners; we are natural allies united by a shared mission and driven by a powerful vision for a sustainable future. ABS and Seatrium have achieved great successes through our previous collaborations, and we are committed to harnessing our distinct strengths and capabilities to push the boundaries and transform the way we approach decarbonisation, energy transition, and digital transformation.” Dr Christopher J. Wiernicki, Chairman and CEO of ABS, said, “Together, ABS and Seatrium have a remarkable history of pioneering the technological frontiers in the marine and offshore industries. Our shared vision for the future, combined with our twin cultures of innovation and collaboration, mean we are well placed to safely deliver the rapid technological advance our industry needs if we are to meet emissions targets and capitalise on the opportunities offered by decarbonisation and digitalisation.” Caption: Seatrium and ABS mark partnership at OTC 2024 to accelerate decarbonisation and energy transition. The multi-year Technology Collaboration Agreement was signed by (seated from right to left) Mr Chris Ong, CEO of Seatrium, and Dr Christopher J. Wiernicki, Chairman and CEO of ABS; witnessed by (standing from right to left) Mr Mark Gainsborough, Chairman of Seatrium, Mr John McDonald, President and Chief Operating Officer of ABS, and Mr Miguel Hernandez, Senior Vice President of Global Offshore at ABS (Photo: Seatrium Limited) About ABS ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimised performance, and operational efficiency for marine and offshore assets. 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 6, 2024Education
The "Building Bridges for Love" public welfare initiative supported 6,200 students in completing their education in 2023
Approximately one year ago, the "Building Bridges for Love" public welfare initiative was jointly launched by the China Children and Teenagers Fund and the Binzhou Shiping Public Welfare Foundation. This initiative, established in memory of the late founder of China Hongqiao Group, Mr. Zhang Shiping, aims to continue his legacy by promoting education in rural China. Under the guiding principle of "Helping disadvantaged children to have a better future," the “Building Bridges for Love” initiative has committed to a five-year plan, investing a total of 30 million yuan in economically underdeveloped regions such as Yunnan Province. The initiative aims to improve the facilities of rural schools, support disadvantaged children in compulsory education, provide care services for adolescent girls, and enhance vocational skills for female vocational students, helping more children and teenagers achieve their life dreams and have a better future. The initiative is expected to benefit more than 30,000 children and teenagers. One year into its implementation, the “Building Bridges for Love” initiative has already made a significant impact in Yunnan Province. With an investment of 6 million yuan over the past year, the initiative has supported 10 rural schools and 10 higher education institutions, benefiting a total of 6,200 students, and helping them to complete their education. By achieving its expected results for the first year, the initiative has injected strong momentum into the development of education in Yunnan Province. "Building Bridges for Love" managed to light a beacon of hope for children from disadvantaged families and help them achieve their educational dreams. Furthermore, the "Building Bridges for Love" initiative distributed scholarships to 100 scholarships to outstanding but financially challenged students. Due to the remote location and inconvenient transportation, many rural schools in Yunnan adopt boarding systems. Therefore, hardware facilities such as cafeterias, bathrooms, and dormitories, which are closely related to the children's lives, have become one of the focuses of attention from the "Building Bridges for Love" initiative. These facilities significantly impact the living conditions of the students. Through investments in these facilities, the students not only feel the love and care from society but also draw courage to strengthen their life beliefs and pursue their educational and professional dreams. About the Shiping Foundation: The Binzhou Shiping Public Welfare Foundation was established in memory of the late founder of China Hongqiao Group, Zhang Shiping. In order to inherit the spirit of Zhang Shiping and practice social responsibility, the current CEO of China Hongqiao Group, Zhang Bo, along with Zhang Hongxia and Zhang Yanhong, launched the Shiping Foundation after Zhang Shiping's passing in May 2019. Each year, the Shiping Foundation supports 10 outstanding research groups at the University of the Chinese Academy of Sciences with a prize fund of 10 million yuan to encourage innovators in the field of applied science and technology to excel in their research and achieve breakthroughs. Furthermore, the Shiping Foundation is contributing to the development of rural China by constructing and furnishing educational facilities and providing support, especially to girls from low-income backgrounds, to enable them to lead healthier and better lives, pursue their dreams, and nurture local talent. Source: 魏桥创业 Weiqiao Pioneering Group Official WeChat Account
- May 6, 2024Business
Seatrium Secures FPSO Topsides Integration Contract with MODEC
Seatrium Limited (Seatrium or the Group) is pleased to announce that it has secured a Floating Production Storage and Offloading (FPSO) topsides integration contract from longstanding customer, Offshore Frontier Solutions Pte. Ltd., a MODEC Group company. The contract scope of work covers the installation and integration of topside modules onboard the FPSO Errea Wittu, and includes completion and commissioning support for MODEC. Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas) of Seatrium, said, "We are pleased to be working with our longstanding customer, MODEC, on yet another FPSO topsides integration project, solidifying our position as the industry leader in FPSO conversions. Through our strong partnership and unwavering dedication, including decades of collaboration with MODEC, we continue to deliver cutting-edge offshore solutions that redefine excellence. Leveraging our deep engineering expertise, international yard footprint, and strong track record, Seatrium provides innovative, reliable, quality, and value-added offshore and marine solutions for our esteemed customers." The FPSO Errea Wittu will be deployed in the Uaru Field, Stabroek Block, approximately 200 kilometers offshore Guyana. The FPSO Errea Wittu is expected to have a production capacity of 250,000 barrels of oil per day (bopd), water injection capacity of 350,000 barrels of water per day (bwpd), 540 million cubic feet per day (mmscfd) of gas production and a storage capacity of two million barrels of oil. Over the years, Seatrium has built a strong track record in the FPSO space, including delivering a significant number of FPSO projects for MODEC since its first FPSO conversion Whakaaropai in 1996. The Group is currently undertaking integration work for FPSO Bacalhau, which will be operating in the Bacalhau field, Santos Basin, offshore Brazil. Separately, BrasFELS, Seatrium’s yard in Angra dos Reis, Brazil, is also currently executing topside modules fabrication for FPSO Raia. -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 5, 2024Lifestyle
Mandarin makeover: Coles launches recyclable paper bag packaging in time for winter
As we enter the cooler months and the much-loved mandarin comes into season, Coles has done away with the plastic net bag and has instead launched packets of the lunchbox staple in a 100% recyclable paper bag. The new-look packaging solution for Coles Unique Selection mandarins will avoid the use of 11,700 kilograms of plastic in one year and can be recycled kerbside. With more than one million of the paper bags expected to be sold between April and October this year, Coles General Manager Fresh Produce Charlotte Gilbert said the packaging update was proof the retailer was looking to reduce waste and make recycling more convenient and accessible for its customers. “We know how much our customers love mandarins at this time of year, so we’re pleased to be able to offer them in a new paper bag that can be put in your recycling bin once you’ve had a chance to enjoy them,” said Charlotte. “Customers can still purchase their favourite mandarin loose, including the delicious Imperial and Afourer varieties, with more than 16 million tonnes of the citrus fruit expected to be sold across Coles stores this season,” she said. Planet Ark CEO Rebecca Gilling praised Coles for providing a recyclable alternative to the plastic net bags traditionally used as part of the company’s efforts to reduce food and packaging waste across operations. “It’s very positive to see Coles designing packaging to avoid plastic waste and provide Aussies with a recyclable alternative to a plastic net bag. While we support buying loose and reusing bags where possible, we commend Coles for its work to close the recycling loop and provide customers with products that can be easily recycled,” said Rebecca. The new-style packets of mandarins in paper bags (800g) are available in all states and territories excluding Western Australia and start from $5.50. For media enquiries, please contact Coles Media Line (03) 9829 5250 or media.relations@coles.com.au
- May 3, 2024Business
CapitaLand India Trust to invest in 2.5 million sq ft of IT buildings at HITEC City, Hyderabad
Pictured is the artist's impression of aVance A1, Hyderabad, which CLINT plans to acquire from Phoenix Group. CapitaLand India Trust (CLINT) has entered into a forward purchase agreement with Phoenix Group to acquire IT buildings with a total leasable area of 2.5 million square feet (sq ft) in HITEC City, India. HITEC City is a major IT and office hub in Hyderabad where many large multinational companies are located. The acquisition of the strategically located assets is expected to increase CLlNT’s earnings and distributions for Unitholders. Pro forma net profit from the buildings is forecasted to be approximately S$4.5 million2 on a stabilised basis. Pro forma distribution per unit is expected to increase from 6.45 cents to 6.47 cents3. As part of the forward purchase arrangement, CLINT will provide funding of INR2.15 billion (S$34.68 million)4 to refinance the existing loan and receive interest on the funding at a rate which is higher than its borrowing cost. CLINT will also provide funding in future towards development of the buildings and acquire the buildings at a price to be determined5 as and when each building is constructed and leased up to 90%. The acquisition is attractive as its capitalisation rate is higher compared to the market’s capitalisation rates. "The forward purchase allows us to secure prime assets that will further strengthen our presence in Hyderabad, which has strong leasing demand from multinational companies. The buildings are situated within the city’s prime IT Corridor in HITEC City and CLINT is well established in this location with a portfolio of approximately 5.2 million sq ft with high levels of occupancy." Mr Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Management Pte. Ltd. (the Trustee-Manager of CLINT) CLINT has a long-standing partnership with Phoenix Group since 2011, having acquired five buildings with approximately 2.1 million sq ft of total leasable area through a forward purchase agreement. The five buildings are located within CLINT’s business park, aVance Hyderabad, and it plans to acquire another two buildings (aVance 5 and aVance A1) in aVance Hyderabad from Phoenix Group within the next 18 months, further enhancing CLINT’s portfolio. CLINT’s presence in Hyderabad CLINT’s portfolio in Hyderabad currently comprises three business parks: aVance Hyderabad, CyberPearl and International Tech Park Hyderabad (ITPH). CLINT is also developing a data centre in ITPH, which is expected to be completed in 2025. --------------------------------- Notes: 1. Distribution per Unit. 2. Estimated income available for distribution is based on the assumed revenue derived from Phase 1 of the project post-acquisition, net of operating and financing expenses as well as withholding taxes. 3. Based on the assumption that CLINT had completed the acquisition on 1 January 2023 and held the interest in Phase 1 of the project through to 31 December 2023. 4. Exchange rate of S$1 = INR62. 5. Subject to conditions including an independent valuation which will be conducted and announced at the time of acquisition.
- May 3, 2024Business
Shaun Menegola resigns from Seven Melbourne
The Seven Network today announced the resignation of Shaun Menegola as Director of News, Seven Melbourne. His departure date has not yet been finalised and he will remain in his role for a transition period. Mr Menegola said: “I have decided to call an end to my time here at 7NEWS in Melbourne. “It’s entirely my decision and one I’ve been thinking about for a long time. It’s not one driven by anything else other than the fact that I’m looking to take a break to recharge and reboot – and to spend some time in my home state with family. “I couldn’t be prouder of what this team has achieved over the last five or so years, and of the bulletins we turn out every night. “It’s been a highlight of almost three decades running news bulletins and newsrooms,” he said. Anthony De Ceglie, Seven Network Director of News and Public Affairs and Editor-in-Chief, Seven West Media, said: “Shaun has made a remarkable contribution to Seven Melbourne and, before that, Seven Perth over many years and he will be greatly missed. “He has been a driving force behind the success of 7NEWS Melbourne over the past five years and will leave a great legacy.” Mr Menegola’s successor will be announced in due course. For more information, please contact: Neil Shoebridge M: 0417 511012 E: neil@skmediagroup.com.au Andrew Knowles M: 0449 510 357 E: andrew@skmediagroup.com.au About theSeven Network The Seven Network is part of Seven West Media (ASX: SWM), one of Australia’s most prominent media companies, with a market-leading presence in content production across broadcast television, publishing and digital. The Seven Network alone reaches about 17 million people a month. The company owns some of Australia’s most renowned media businesses, including the Seven Network and its affiliate channels 7two, 7mate, 7flix and 7Bravo; the digital platform 7plus; 7NEWS.com.au; The West Australian; The Sunday Times; and The Nightly. The Seven Network is home to Australia’s most loved news sport and entertainment programming, including 7NEWS, 7NEWS Spotlight, Sunrise, The Morning Show, The Voice, Home and Away, Australian Idol, My Kitchen Rules, SAS Australia, Farmer Wants A Wife, The Chase Australia, Better Homes and Gardens, RFDS, The 1% Club and the TV WEEK Logie Awards. Seven Network is also the broadcast partner of the AFL, Cricket Australia and Supercars.
- May 3, 2024Games & Entertainment
UEM EDGENTA HOSTS AIDILFITRI CORPORATE OPEN HOUSE
Syahrunizam Samsudin, MD/CEO UEM Edgenta Berhad hosting international guests at the Company's recent Aidilfitri open house. From left: Syahrunizam Samsudin, MD/CEO of UEM Edgenta Berhad (2nd from left), Rowina Ghazali Seth, Independent Non-Executive Director of UEM Edgenta, Ir. Vekneswaran T. Arasappan, Head of Property and Facility Solutions, and Tan Sri Dr. Azmil Khalid, Chairman of UEM Edgenta (2nd right). Dato' Mohd Izani Ghani, Managing Director, UEM Group Berhad, and Syahrunizam Samsudin, Managing Director / Chief Executive Officer, UEM Edgenta Berhad together with orphans from Pusat Jagaan Darul Sakinah Angkasa at UEM Edgenta's recent Aidilfitri open house. Syahrunizam Samsudin, MD/CEO, UEM Edgenta sampling fares from one of the many invited vendors at the Company's Aidilfitri open house. Syahrunizam Samsudin, MD/CEO UEM Edgenta Berhad hosting international guests at the Company's recent Aidilfitri open house. From left: Syahrunizam Samsudin, MD/CEO of UEM Edgenta Berhad (2nd from left), Rowina Ghazali Seth, Independent Non-Executive Director of UEM Edgenta, Ir. Vekneswaran T. Arasappan, Head of Property and Facility Solutions, and Tan Sri Dr. Azmil Khalid, Chairman of UEM Edgenta (2nd right). Dato' Mohd Izani Ghani, Managing Director, UEM Group Berhad, and Syahrunizam Samsudin, Managing Director / Chief Executive Officer, UEM Edgenta Berhad together with orphans from Pusat Jagaan Darul Sakinah Angkasa at UEM Edgenta's recent Aidilfitri open house. Syahrunizam Samsudin, MD/CEO, UEM Edgenta sampling fares from one of the many invited vendors at the Company's Aidilfitri open house. Syahrunizam Samsudin, MD/CEO UEM Edgenta Berhad hosting international guests at the Company's recent Aidilfitri open house. Following a day celebrating community spirit and gratitude, UEM Edgenta Berhad (UEM Edgenta)’s Hari Raya Aidilfitri open house event, themed "Indahnya Syukur Syawal" was very well received and saw over 2,000 guests in attendance comprising of its diverse clients stakeholders, including Malaysia’s sovereign wealth fund, Khazanah Nasional Berhad. The leading integrated asset management and infrastructure services provider’s event featured a bustling bazaar-like atmosphere, with local entrepreneurs showcasing their products. Attendees had the opportunity to explore offerings from Brotani, Soul Soil, The Mok’s, and other participating vendors while supporting small businesses and Malaysian youths. The bazaar was made possible through UEM Edgenta’s collaboration with Penglipur Lara, well known for its curation of local emerging brands through its pop-up bazaar series. Syarunizam Samsudin, Managing Director and Chief Executive Officer, UEM Edgenta, shared, "We are indeed delighted by the overwhelming success of this year's open house celebration. The theme 'Indahnya Syukur Syawal' truly encapsulated the spirit of gratitude and togetherness that defines Aidilfitri. While we celebrate each other’s company over good food, the bazaar reflects the Company’s appreciation for the success made possible through collaborations with the wider vendor ecosystem.” A continuation of the Company’s heartwarming generosity during Ramadan, the open house welcomed orphans from Pusat Jagaan Darul Sakinah Angkasa to join in the festivities, spreading the joy of Aidilfitri and fostering a sense of inclusivity within the community. “Carrying over the caring and compassionate spirit from our Ramadan CSR called ‘Jalinan Kasih Edgenta’, we continue to create positive experiences for the wider community and are proud to strengthen the silaturahim during Syawal as well while aspiring to create a sustainable and impactful legacy of compassion and support,” added Syahrunizam. Before the main open house event in the afternoon, UEM Edgenta hosted a special staff open house, where employees showcased their talents in a lively competition. The event showcased the creativity and unity within the Company. Among the guests seen mingling during the open house were Datuk Amran Hafiz Affifudin, Executive Director, Khazanah Nasional Berhad, Dato' Mohd Izani Ghani, Managing Director, UEM Group Berhad, and Tan Sri Dr. Azmil Khalid, Chairman, UEM Edgenta just to name a few. Other notable names include Anas Tahir and Mawi from Astro Radio, and current podcast personality Khairy Jamaluddin from Keluar Sekejap podcast series. UEM Edgenta extends its heartfelt appreciation to all who attended and contributed to the success of the event. We look forward to continuing to celebrate diversity, unity, and community spirit in future endeavours.
- May 3, 2024Travel & Leisure
AirAsia Connects India's First UNESCO City - Ahmedabad, to Kuala Lumpur
Yesterday, AirAsia welcomed its inaugural flight from Ahmedabad, India's first UNESCO World Heritage City, further enhancing its India-Malaysia air connectivity. This new route, operating four times weekly, allows travellers to easily explore Ahmedabad's rich cultural heritage and Kuala Lumpur's vibrant city life at affordable prices. Guests onboard today's inaugural flight (AK90) with a 100% load factor received a warm welcome from Deputy Director South Asia Unit of Tourism Malaysia, En. Solehuddin Ahmad, representing the Director General of Tourism Malaysia, as well as AirAsia Allstars. Deputy Director South Asia Unit of Tourism Malaysia, En. Solehuddin Ahmad said: “We wholeheartedly commend AirAsia for their continuous efforts in further expanding air connectivity between our two nations, now with 15 and counting direct routes from India. With this new route and AirAsia’s great value fares, more travellers can visit our beautiful country affordably be it for leisure or business. This is also a much welcomed initiative following the government's recent announcement of visa-free entry for nationals of India to Malaysia.” Group Chief Commercial Officer of AirAsia, Paul Carroll said: “This marks a significant step in our ever evolving journey to cement our foothold in India, one of our biggest and fastest growing markets. We also hope that this connectivity will allow more travellers from India to explore the region beyond Malaysia thanks to our seamless Fly-Through options. We look forward to kickstarting more routes, and creating more memorable travel experiences for our trusted guests.” AirAsia now operates a robust network servicing 15 international routes directly from India to Malaysia with 78 flights weekly on short-haul airline AirAsia Malaysia (flight code AK), from the cities of Trivandrum, Chennai, Tiruchirappalli, Kochi, Hyderabad, Bengaluru, Kolkata, Ahmedabad, Jaipur, Visakhapatnam, Bhubaneswar (flights to commence on 28 May 2024) as well as Kozhikode and Guwahati (flights to commence on 1 Aug 2024). Medium haul affiliate airline AirAsia X Malaysia (flight code D7) also provides two direct routes from New Delhi and Amritsar to Kuala Lumpur with 8 flights weekly. The continued growth in AirAsia services to and from India ensures a comprehensive and seamless travel experience for guests across India and beyond, connecting them to over 130 destinations on the widest low-cost network in Asia. Stay tuned to all-things-AirAsia by following us on Instagram at @ flyairasia .
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