Jetstar celebrates 20th birthday by reenacting its inaugural flight from Newcastle to Melbourne
Today marks exactly 20 years since Jetstar’s first flight took off from Newcastle to Melbourne, revolutionising air travel in Australia and making travel more affordable for millions of Aussies. To celebrate today’s milestone birthday, Jetstar has recreated its inaugural flight between Newcastle and Melbourne, with several of the same original pilots, cabin crew and customers on board. Jetstar’s new uniform, which will be rolled out later this year, will be worn by the crew on today’s flight, symbolising the airline’s transition into a new era of low fares, new aircraft and stronger reliability. Starting with a fleet of 14 aircraft in 2004 flying only along Australia’s east coast, Jetstar has grown into one of the biggest and most successful low-cost carriers in the Asia Pacific, operating across nearly 150 domestic and international routes. The airline’s launch in 2004 was one of the most successful airline launches in the world, with 100,000 fares sold in the first day. Since that day, Jetstar has flown more than 400 million customers, with more than half flying for less than $100. Last year the airline sold more than 12 million fares for less than $100 and is on track to exceed that figure this year. To further mark this important occasion for Jetstar, the airline is offering one-way fares between Newcastle and Melbourne from just $49 at jetstar.com . Jetstar Group CEO, Stephanie Tully, and Melbourne Airport’s CEO, Lorie Argus, welcomed the arrival of JQ471 from Newcastle this morning. Jetstar Group CEO, Stephanie Tully, said the airline has helped to put downward pressure on airfares over the past 20 years and its commitment to helping Australians take off more is as strong as ever. “Jetstar has transformed the way Australians travel. Before we launched 20 years ago, many families’ only option was packing up the car and hitting the road. Our low fares meant they could afford to instead jump on a plane and head off to the Gold Coast, Bali or elsewhere for their family holiday. “While it’s our birthday, today is about celebrating the 400-million customers who’ve chosen to fly with us across Australia, New Zealand, Asia and the Pacific over the past two decades. “As we welcome new aircraft into our fleet and add more destinations to our network, we’re excited about the next 20 years and a new era of low-cost travel in Australia.” Melbourne Airport CEO, Lorie Argus, said Melbourne had been a proud part of Jetstar’s success story since day one. “Being the home base and headquarters for Australia’s largest low-cost carrier has allowed millions of people to connect with friends and family and millions more to visit Victoria, which helps support the state’s famous restaurants, bars, theatres and sporting venues. “We’ve partnered with Jetstar to help deliver on its low fare promise by providing fit for purpose infrastructure and working with them to plan for more growth over the next 20 years.” Newcastle Airport CEO, Dr Peter Cock congratulated Jetstar on a remarkable milestone. “We are immensely proud to have been part of Jetstar's journey from the very beginning, witnessing their growth and success firsthand. “Jetstar has played a crucial role in fulfilling our vision of being the airport the Hunter region deserves, enhancing the travel experience for all. “Our partnership with Jetstar has been instrumental in boosting connectivity, promoting tourism, and driving economic growth in our region. We look forward to many more years of successful collaboration.” Jetstar Captain, Jeff Bray operated Jetstar’s inaugural flight and was on board again today. “I’ve flown on thousands of Jetstar flights over 20 years, and while every flight is important, today’s service is particularly special for the team. “It’s a moment to reunite with other long serving colleagues who I started out with on 25 May 2004 and some of the same customers who were on board two decades ago. “We’ve always carried first time flyers and that’s what makes Jetstar unique, we’re providing low fares so more people can afford to fly.”
Indorama Ventures to issue perpetual bonds
AWC and Hotel Okura make headway with the development of a unique project in the heart of Chiang Mai and ‘Okura Cruise’, the world’s first luxurious Teppanyaki and Kaiseki cruise by Okura, set for maiden voyage on Chao Phraya River by year-end
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- May 25, 2024Travel & Leisure
Jetstar celebrates 20th birthday by reenacting its inaugural flight from Newcastle to Melbourne
Today marks exactly 20 years since Jetstar’s first flight took off from Newcastle to Melbourne, revolutionising air travel in Australia and making travel more affordable for millions of Aussies. To celebrate today’s milestone birthday, Jetstar has recreated its inaugural flight between Newcastle and Melbourne, with several of the same original pilots, cabin crew and customers on board. Jetstar’s new uniform, which will be rolled out later this year, will be worn by the crew on today’s flight, symbolising the airline’s transition into a new era of low fares, new aircraft and stronger reliability. Starting with a fleet of 14 aircraft in 2004 flying only along Australia’s east coast, Jetstar has grown into one of the biggest and most successful low-cost carriers in the Asia Pacific, operating across nearly 150 domestic and international routes. The airline’s launch in 2004 was one of the most successful airline launches in the world, with 100,000 fares sold in the first day. Since that day, Jetstar has flown more than 400 million customers, with more than half flying for less than $100. Last year the airline sold more than 12 million fares for less than $100 and is on track to exceed that figure this year. To further mark this important occasion for Jetstar, the airline is offering one-way fares between Newcastle and Melbourne from just $49 at jetstar.com . Jetstar Group CEO, Stephanie Tully, and Melbourne Airport’s CEO, Lorie Argus, welcomed the arrival of JQ471 from Newcastle this morning. Jetstar Group CEO, Stephanie Tully, said the airline has helped to put downward pressure on airfares over the past 20 years and its commitment to helping Australians take off more is as strong as ever. “Jetstar has transformed the way Australians travel. Before we launched 20 years ago, many families’ only option was packing up the car and hitting the road. Our low fares meant they could afford to instead jump on a plane and head off to the Gold Coast, Bali or elsewhere for their family holiday. “While it’s our birthday, today is about celebrating the 400-million customers who’ve chosen to fly with us across Australia, New Zealand, Asia and the Pacific over the past two decades. “As we welcome new aircraft into our fleet and add more destinations to our network, we’re excited about the next 20 years and a new era of low-cost travel in Australia.” Melbourne Airport CEO, Lorie Argus, said Melbourne had been a proud part of Jetstar’s success story since day one. “Being the home base and headquarters for Australia’s largest low-cost carrier has allowed millions of people to connect with friends and family and millions more to visit Victoria, which helps support the state’s famous restaurants, bars, theatres and sporting venues. “We’ve partnered with Jetstar to help deliver on its low fare promise by providing fit for purpose infrastructure and working with them to plan for more growth over the next 20 years.” Newcastle Airport CEO, Dr Peter Cock congratulated Jetstar on a remarkable milestone. “We are immensely proud to have been part of Jetstar's journey from the very beginning, witnessing their growth and success firsthand. “Jetstar has played a crucial role in fulfilling our vision of being the airport the Hunter region deserves, enhancing the travel experience for all. “Our partnership with Jetstar has been instrumental in boosting connectivity, promoting tourism, and driving economic growth in our region. We look forward to many more years of successful collaboration.” Jetstar Captain, Jeff Bray operated Jetstar’s inaugural flight and was on board again today. “I’ve flown on thousands of Jetstar flights over 20 years, and while every flight is important, today’s service is particularly special for the team. “It’s a moment to reunite with other long serving colleagues who I started out with on 25 May 2004 and some of the same customers who were on board two decades ago. “We’ve always carried first time flyers and that’s what makes Jetstar unique, we’re providing low fares so more people can afford to fly.”
- May 25, 2024Business
Seatrium Secures FPSO Newbuild Contracts P-84 and P-85 from Petrobras
Seatrium Limited (Seatrium, or the Group), a global provider of engineering solutions to the offshore, marine, and energy industries, has won an international tender from Brazil’s National Oil Company, Petróleo Brasileiro S.A. (Petrobras), acting as operator of Atapu1 and Sepia2 consortiums, for the newbuild supply of Floating Production Storage and Offloading vessels (FPSO) platforms P-84 and P-85. With the contracts valued at approximately S$11 billion, these high throughput FPSOs will be deployed in the Atapu and Sépia fields, located in the eastern part of the Santos Basin, approximately 200 kilometres offshore of Rio de Janeiro in Brazil. The P-84 and P-85 platforms are part of Petrobras' new generation of FPSO platforms, characterised by a high production capacity that prioritise sustainable practices with innovative technologies. The P-84 and P-85 FPSOs will each have a production capacity of 225,000 barrels of oil per day (bopd) and gas processing capacity of 10 million cubic meters per day (Sm3 /d). Both FPSOs will incorporate advanced technologies such as zero routine flaring and venting, variable speed drives and measures to control emissions and capture CO2, including an all-electric concept, which focuses on efficient power generation and increased energy efficiency to achieve a 30% reduction in greenhouse gas emissions intensity. These features will enhance operational efficiency and reduce environmental impact, showcasing Seatrium's commitment to responsible and sustainable operations. Construction for the P-84 and P-85 FPSOs will commence in first quarter of 2025 with the final delivery expected to be in 2029. Supply of the FPSO platforms will leverage the Group’s “One Seatrium Delivery Model”, where operations and engineering support are integrated across different yards globally. Seatrium’s facilities in Brazil, China, and Singapore will manufacture the modules, weighing an impressive 60,000 metric tonnes, with the outsourced hull and accommodation transported to Singapore for topside module integration and commissioning. After successful integration and commissioning in Singapore, the FPSO platforms will be towed to the Atapu and Sépia fields for offshore commissioning. 1 The Atapu consortium consists of: Petrobras as operator (65.7%), Shell (16.7%), TotalEnergies (15%), Petrogal Brasil (1.7%), Pré Sal Petróleo S.A. (0.9%). 2 The Sepia consortium consists of: Petrobras as operator (55.3%), TotalEnerigies (16.9%), PETRONAS (12.7%), QatarEnergy (12.7%) Petrogal Brasil(2.4%). This streamlined delivery model optimises collaboration and utilises Seatrium's global facilities and international yard footprint to deliver quality and high-calibre platforms expected to exceed industry standards while adhering to sustainable practices in the oil and gas industry. Mr Chris Ong, CEO of Seatrium, said, "We are honoured to be selected by Petrobras through a rigorous tender process to supply the P-84 and P-85 FPSO vessels, solidifying our position as the preferred partner for transformative projects. Through the One Seatrium Delivery Model, we are integrated globally to deliver cost-effective, value-added solutions to our esteemed customers. Leveraging our worldwide engineering, procurement and project management expertise in close collaboration with our customers, we will create quality assets with the highest safety standards and a lower carbon footprint, shaping the industry for a greener future." Seatrium is today the only global offshore and marine engineering group that provides end-toend delivery of projects in key markets, including Brazil. Over the years, the Group has delivered a significant number of projects for Brazil, including FPSOs, Floating Storage Regasification Units, drilling rigs and accommodation vessels, to support the country’s growing energy infrastructure. Its current order book includes four other Petrobras FPSO newbuilds, the P-78, P-80, P-82 and P-83. Beyond creating over 10,000 employment opportunities, Seatrium has also contributed tremendously to the growth and development of the local communities it operates in. -End- Caption: Seatrium Group signs ground-breaking P-84 and P-85 contracts with Petrobras, solidifying its role as a global leader in engineering solutions for the supply of FPSOs. (Photo: Seatrium Limited) First row (seated) from left to right: Mr Chan Wai Hsing, P84 Project Director, Seatrium Mr Fernando Pedrosa, P84 Project Manager, Petrobras Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas), Seatrium Mr Tiago Vitalino, P85 Project Manager, Petrobras Mr Lai Tak Weng, P85 Project Director, Seatrium Second row (standing) from left to right: Mr Lim Shih Hsien, Executive Vice President, Cyber IT & OT, Seatrium Dr Stephen Lu, Executive Vice President, Strategy, Seatrium Dr Lee Chay Hoon, Chief People Officer, Seatrium Mr Chris Ong, Chief Executive Officer, Seatrium Mr Chor How Jat, Chief Operating Officer, Seatrium Mr Tey Wee Hong, Vice President, Estimating & Floating Oil Solutions, Seatrium Mr Choo Boon Kheng, Senior Vice President, Operations (Tuas Boulevard Yard), Seatrium On Screen: (Top) Mr Marcio Mattoso de Padua, General Manager, Petrobras (Bottom Left) Mr Flavio Alves de Rezende Junior, Bidding Committee, Petrobras (Bottom Right) Mr Edson Rodrigues Braga, Bidding Committee, Petrobras 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 68030254 Email: judy.tan@seatrium.com Ms Clarissa Ho Senior Manager, Investor Relations and Corporate Communications Tel No: +65 68030276 Email: shufang.ho@seatrium.com
- May 24, 2024Technology
Lunit to Showcase 7 Studies at ASCO 2024, including AI Innovations in HER2 Quantification, and Multimodal Predictive Models for Immunotherapy Response
Lunit (KRX:328130.KQ), a leading provider of AI-powered solutions for cancer diagnostics and therapeutics, today announced the presentation of seven studies at the American Society of Clinical Oncology (ASCO) 2024 Annual Meeting in Chicago, from May 31 to June 4. Lunit will present detailed findings on several innovative studies, including the identification of HER2 ultra-low expression in breast cancer using AI-based quantification, and a deep learning-based model integrating chest CT and histopathology analysis for predicting immunotherapy response in non-small cell lung cancer (NSCLC). In a poster presentation, Lunit’s AI-powered HER2 analyzer, Lunit SCOPE HER2, demonstrated the ability to identify HER2 ultra-low expression and differentiate it from true HER2-negative cases in breast cancer patients using continuous subcellular quantification from HER2 immunohistochemistry (IHC) images. According to findings presented at ASCO 2022, HER2-targeted antibody-drug conjugates (ADCs) can effectively target tumor cells even in HER2-low breast cancers. This highlights the importance of accurately identifying HER2-low and HER2 ultra-low expression in breast cancer, especially for patients previously classified as HER2-negative. In response, Lunit developed an AI-based whole-slide image (WSI) analyzer for IHC-stained slides to differentiate between true HER2-negative and HER2 ultra-low cases. The AI model evaluated over 67 million tumor cells and 119 million non-tumor cells from 401 WSIs, identifying a significant proportion of HER2 ultra-low cases among pathologist-assessed HER2 score 0 cases. This AI-powered analysis could expand and refine treatment options for patients with HER2-targeted therapies, as demonstrated by the 23.6% of HER2 score 0 cases identified as HER2 ultra-low by AI, and the 51.9% of HER2 score 1+ cases classified as HER2 low by AI, comparable to the 52.3% objective response rate to a HER2-targeted ADC observed in another clinical trial. In another study, Lunit developed and validated an AI model that analyzes patients' chest CT images alone and in combination with pathology images to predict Immune Checkpoint Inhibitor (ICI) response in NSCLC patients. Lunit's deep learning-based chest CT prediction model, developed using data from 1,876 NSCLC patients treated with ICIs, predicted treatment response based on pre-treatment chest CT scans, along with PD-L1 status and immune phenotype. The model demonstrated significant predictive power as an independent biomarker. Patients predicted as responders by the AI model showed significantly longer median time to the next treatment (TTNT; 7 months vs. 2.5 months) and a longer overall survival (OS; 16.5 months vs. 7.6 months) compared to patients predicted as non-responders. Combining the AI CT model with histopathologic biomarkers such as PD-L1 expression and tumor-infiltrating lymphocytes (TILs) further enhanced prediction accuracy, highlighting the complementary strengths of imaging and pathology data in improving predictive models for ICI response. A collaborative study with Stanford University School of Medicine examined the association of immune phenotypes with outcomes after immunotherapy in metastatic melanoma, highlighting the heterogeneity of immune phenotypes across melanoma subtypes. Another study with Northwestern University utilized AI-powered analysis of tertiary lymphoid structures (TLS) in H&E whole-slide images to predict immunotherapy response in NSCLC patients. This demonstrated AI’s potential in identifying predictive biomarkers for survival outcomes. "At ASCO 2024, Lunit proudly presents seven groundbreaking studies that illustrate our pioneering role in AI-driven precision oncology," said Brandon Suh, CEO of Lunit. "From HER2 quantification to predictive models for immunotherapy response, our work is transforming oncology by making cancer treatment not just personalized but predictive, ensuring the best possible outcomes for patients worldwide.” In addition to the studies above, Lunit will present three more studies at this year's ASCO, demonstrating the diverse capabilities of the Lunit SCOPE suite. The studies include comprehensive histopathomic prediction models for early breast cancer, and hypothetical test-and-control group generation for treatment selection in TPS-high NSCLC. Visit Lunit at booth IH22 to discover how the Lunit SCOPE suite is revolutionizing oncology research and clinical practice. Presentations at ASCO 2024 featuring Lunit SCOPE include: "Identification of HER2 ultra-low based on an artificial intelligence (AI)-powered HER2 subcellular quantification from HER2 immunohistochemistry images" (1115, Poster Board #93) "Deep learning–based chest CT model to predict treatment response to immune checkpoint inhibitors in non-small cell lung cancer independently and additively to histopathological biomarkers" (8536, Poster Board #400) "Artificial intelligence (AI) –powered H&E whole-slide image (WSI) analysis to predict recurrence in hormone receptor positive (HR+) early breast cancer (EBC)" (571, Poster Board #163) "Immune phenotype profiling based on anatomic origin of melanoma and impact on clinical outcomes of immune checkpoint inhibitor treatment" (9569, Poster Board #353) "Artificial intelligence (AI) -powered H&E whole-slide image (WSI) analysis of tertiary lymphoid structure (TLS) to predict response to immunotherapy in non-small cell lung cancer (NSCLC)" (3135, Poster Board #280) "Updated safety, efficacy, pharmacokinetics, and biomarkers from the phase 1 study of IMC-002, a novel anti-CD47 monoclonal antibody, in patients with advanced solid tumors" (2642, Poster Board #121) "Relationship between immune phenotype and treatment selection of Chemo-IO vs. IO-only in TPS-high NSCLC using hypothetical test-and-control group generation based on survival data extracted from phase III trials" (e13569)
- May 24, 2024Health
Adherium will provide its Hailie® Smartinhaler®for an AstraZeneca clinical trial
Adherium Limited (“Adherium” or “the Company”; ASX:ADR), a leader in respiratory eHealth, remote monitoring and data management solutions, today announced that AstraZeneca has selected its Hailie® Smartinhaler® platform for a clinical trial. This contract is valued at $1.1M over the course of three years. AstraZeneca’s inhaled medication use will be recorded and transferred via Hailie Smartinhaler devices. Adherium CEO, Dr. Paul Mastoridis, said: “ This agreement underscores Adherium's strategic commitment to enhancing patient care through advanced technology. Our Hailie® platform is designed to ensure precise monitoring and support for patients with respiratory diseases, facilitating the pursuit of tailored therapy. " Adherium will be providing Hailie® Smartinhalers®, Hailie® app and Platform for the trial, allowing for accurate tracking of inhaler medication use through the selected eCOA (Electronic Clinical Outcome Assessment) devices.
- May 24, 2024APAC
Weebit Nano and Efabless collaborate to enable easy, affordable prototyping of innovative SoC designs
Weebit Nano Limited (ASX:WBT), a leading developer and licensor of advanced memory technologies for the global semiconductor industry, and Efabless Corporation , the creator platform for chips, announce their collaboration to enable fast and easy prototyping of intelligent devices using Weebit’s technology. Under this agreement, Efabless chipIgnite customers have access to Weebit’s Resistive RAM ( ReRAM or RRAM ) IP, an innovative non-volatile memory ( NVM ), which they can incorporate into their designs manufactured using SkyWater Technology Foundry’s 130nm CMOS (S130) process. chipIgnite is an innovative open-source chip design platform that makes it easy and affordable to design and fabricate chips for prototyping or small production programs in areas such as IoT, artificial intelligence and other burgeoning applications. As chipIgnite users prototype and test their next-generation designs, they can now take advantage of Weebit ReRAM to embed more system capabilities in their products. Weebit ReRAM is an advanced NVM technology that enables companies to create systems on chip ( SoC ) designs that are more energy efficient, more reliable, more secure and lower cost than those using flash or other emerging NVMs. Weebit ReRAM technology in SkyWater S130 is an ultra-low power, fast, radiation tolerant and secure NVM with excellent reliability even at high temperatures. The technology is qualified for automotive-grade temperatures, and ready for production. As part of the collaboration, Efabless customers will pay a small fee to use Weebit ReRAM in their designs. If the customer decides to move to commercial production with their design, they will license the Weebit ReRAM IP directly from Weebit. Coby Hanoch, CEO of Weebit Nano, said: “The Efabless chipIgnite program is exciting, as it enables academics, researchers, startups and even groups within large OEMs to quickly and cost-effectively develop and test new designs. As we embark on this collaboration, we anticipate that it will broaden industry awareness of Weebit ReRAM and grow the community of designers using our technology. Some of these users will ultimately want to license our product for commercial production, and we’re working with Efabless to accelerate this process.” Mohamed Kassem, CTO of Efabless, said: “Efabless makes chip design and prototyping easy and affordable. We are seeing increased interest in creating designs with integrated NVM. We’re delighted to add Weebit’s innovative ReRAM IP to our portfolio, enabling our users to build more capabilities and intelligence for applications such as TinyML. By embedding NVM on-chip in their prototypes, designers can better understand the real-life behavior of their devices.” About Efabless Efabless offers a platform applying open source and community models to enable a global community of chip experts and non-experts to collaboratively design, share, prototype and commercialize special purpose chips. Over the past three years, 1300 designs and six hundred tapeouts have been executed on Efabless. The company’s customers include startups, Fortune 500 companies, universities, and research institutions around the world. For more information, please visit www.efabless.com . About Weebit Nano Limited Weebit Nano Ltd. is a leading developer and licensor of advanced semiconductor memory technology. The company’s ground-breaking Resistive RAM (ReRAM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of new electronic products such as Internet of Things (IoT) devices, smartphones, robotics, autonomous vehicles, 5G communications and artificial intelligence. Weebit ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing flash memory solutions. As it is based on fab-friendly materials, the technology can be quickly and easily integrated with existing flows and processes, without the need for special equipment or large investments. See www.weebit-nano.com . Weebit Nano and the Weebit Nano logo are trademarks or registered trademarks of Weebit Nano Ltd. in the United States and other countries. Other company, product, and service names may be trademarks or service marks of others. – ENDS – Weebit Nano Investors Eric Kuret, Automic Group P: +61 417 311 335 E: eric.kuret@automicgroup.com.au Weebit Nano Media – Australia Tristan Everett, Automic Group P: +61 403 789 096 E: tristan.everett@automicgroup.com.au Weebit Nano Media – US Jen Bernier-Santarini, Weebit Nano P: +1 650-336-4222 E: jen@weebit-nano.com Efabless Media Andrea Vedanayagam P: 408.656.4494 E: andrea@efabless.com
- May 23, 2024Business
Duopharma Biotech optimistic on 2024 outlook with Q1FY2024 results
Duopharma Biotech Berhad ("Duopharma Biotech" or "the Company") reported a 15.2% increase in revenue for the quarter ended 31 March 2024 compared to the preceding quarter, with a revenue of RM192.97 million compared to RM167.50 million in the last quarter ended 31 December 2023. Year-on-year, however, the Q1FY2024 revenue lagged the same period year, down 3.7% from Q1FY2023, which recorded revenue of RM200.48 million. The results are also reflected in the profit before tax (PBT) for the first quarter of 2024, which amounted to RM20.10 million, compared to RM28.29 million in the corresponding period last year, a decrease of 29.0%. Meanwhile, the PBT for Q1FY2024 saw significant recovery quarter-on-quarter, coming in at 185.8% higher than the RM7.03 million PBT recorded in Q4FY2023. The marginally lower year-on-year revenue and PBT were attributed to lower demand in the prescription pharmaceutical markets, both in the private ethical and public health segments. Additionally, increased operational costs associated with the full operation of the newly completed K3 facility, higher finance costs and unfavourable exchange rates have contributed to the decline in profitability. Leonard Ariff Abdul Shatar, Group Managing Director of Duopharma Biotech, commented, "The persistent challenges, such as strengthening in the United States Dollar, high electricity tariffs and high interest rates, continue to pose pressure on manufacturing margins and overall profitability. However, the Group remains focused on enhancing operational efficiencies internally to cushion the surge in operational and finance costs caused by these challenges." Recently, Duopharma Biotech subsidiaries Duopharma (M) Sendirian Berhad and Duopharma Manufacturing (Bangi) Sdn Bhd respectively received and accepted seven and four Letters of Offer from Pharmaniaga Logistics Sdn Bhd to supply pharmaceutical and non-pharmaceutical products to the Government of Malaysia's offices and facilities. All contracts are valid until 31 December 2026 with a total estimated value of approximately RM578.09 million. The record-high budget allocation of RM41.20 billion for the healthcare sector in Malaysia's 2024 Budget is anticipated to continue to increase demand for medical supplies, benefiting pharmaceutical players in the market. Despite ongoing challenges, Duopharma Biotech remains optimistic about the future, with a steadfast commitment to its long-term growth prospects. "We will continue to focus on strategic collaborations to navigate challenges and drive sustainable growth in the coming quarters, leveraging our strengths and seizing local and regional opportunities to deliver value to our shareholders. With the acceptances of new supple agreements with the Government of Malaaysia, the Group poised to deliver satisfactory performance in 2024, barring unforseen market changes and developments." Leonard Ariff added. The Board of Directors did not recommend any interim dividend for the current quarter ended 31 March 2024, Meanwhile, during Q1FY2024, the Group paid a second interim dividend of 1.8 sen in respect of financial year ended 31 December 2023, amounting to total divendend of 2.3sen per share paid for financial year ended 31 December 2023.
- May 23, 2024Business
REDPAPER predicts growth for industrial properties, new trends enhance flexibility and sustainability
REDPAPER, an insight report on real estate data and trends by Frasers Property (Thailand) and Jones Lang LaSalle (Thailand) Company Limited, or JLL Thailand, forecasts an upsurge in the real estate industry, influenced by the global geopolitical landscape and the China Plus One policy. It also highlights the impressive growth momentum of the New S-Curve industries, which is driving continuous expansion in factories and warehouses. Additionally, the company has introduced innovative “built-to-function” solutions for Thailand's latest industrial buildings, catering to specific tenant needs and ensuring rapid relocation. Titled ‘Insights on Thailand's Future-Focused Industrial Property Sector’, REDPAPER underscores the proactive expansion of industrial real estate, catalysed by significant growth over the past 2-3 years. This surge is fuelled by the rapidly expanding e-commerce sector, driven by economic dynamics and global geopolitical tensions, as well as international companies’ strategies to diversify investments beyond China. Thailand’s readiness, characterised by attractive investment promotion policies, strategic location, robust infrastructure, and skilled labour force, establishes the country as an attractive investment destination for foreign investors, especially in government-targeted industries for advancement. Over the past decade, Thailand’s manufacturing sector has played a crucial role in the economy, contributing more than a quarter to GDP. Under the New S-Curve strategy, which aims to drive the economy through future industries, sectors like electric vehicle (EV) manufacturing and electronics and electrical appliance (E&E) manufacturing, particularly semiconductor products, have gained significant importance. These sectors are vital in terms of production and connectivity with other sectors such as robotics and communication networks, which requires close monitoring. In 2023, the EV manufacturing industry saw enormous growth of 380%, while the E&E industry expanded by 256% compared to the previous year,1 indicating a major increase in investment. The growth of the above-mentioned industries has resulted in increased demand for rental spaces in factories and warehouses, attracting new players to the market. Between 2018 and 2023, there was an annual addition of 25,000 square metres of rental factory space and 282,000 square metres of warehouse space. Due to the diverse demands of the market, along with the capability of major providers to develop high-quality factories and warehouses, there has been innovation in the development of new types of industrial buildings that blend ready-built and built-to-suit approaches. This new model is called “built-to-function”, which meets the needs of investors by delivering ready-to-use buildings that incorporate specialised features suited for standard structures. It is particularly suitable for logistics service providers (3PL) specialising in specific products/services as well as corporate clients who require specialised ready-to-use buildings. Additionally, built-to-function industrial buildings help service providers reduce the risk of vacancy rates based on typical demand forecasts. This gives a competitive edge to real estate developers already engaged in developing ready-built and built-to-suit buildings by bridging market gaps through the enhancement of existing products. A key trend that has influenced the development of industrial buildings recently is the interest of global investors in environmental, social, and governance (ESG) factors. These investors are looking for developers and service providers who can deliver high-quality buildings that meet sustainability standards. The international green building standard, Leadership in Energy and Environmental Design (LEED), has been applied to support sustainable operations in industrial real estate, which is a part of the value chain in business. REDPAPER reports that Thailand’s extensive preparedness across various sectors, coupled with increased investment from foreign investors and the presence of leading industrial real estate developers, underscores the country’s readiness to grow as a major hub for manufacturing and distribution. Read more at www.frasersproperty.co.th/th/downloads/redpaper 1 The growth of the EV industry is gauged by the number of registrations for all types of electric vehicles, while the growth of the E&E industry is evaluated through the value of investment promotion applications received by the BOI.
- May 23, 2024Business
Indorama Ventures to issue perpetual bonds
Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, is preparing to issue perpetual bonds to be offered to the public, planned for between 1-4 July 2024 through leading financial institutions. The coupon rate for the first five years is between [5.90-6.10]% per year, payable every six months. The company is confident of a positive response from investors based on a satisfactory return, a consistent redemption history of the past perpetual bonds, and the perpetual bond’s 'A' credit rating reflecting Indorama Ventures’ vision to be a sustainable chemical company making great products for society. The perpetual bonds are redeemable upon company liquidation, with a right for the issuer to redeem the bonds early and to defer interest payments without conditions. The company has a rating of "AA-" with a stable outlook by TRIS Rating, while the perpetual bonds have a credit rating of "A". This issuance of perpetual bonds is to prepare for the redemption of previous perpetual bonds issued in 2019, which will reach their 5-year maturity in November 2024. Indorama Ventures was one of the pioneers in perpetual bonds in Thailand, with issues in 2014 and 2019, and a track record of consistent redemptions on the first call date at the end of 5 years from the date of issuance. This issuance will be offered to the public through leading financial institutions appointed as joint lead arrangers, including Bangkok Bank, Krungthai Bank, Kasikornbank, Siam Commercial Bank, CIMB Thai Bank, Kiatnakin Phatra Securities, Krungthai XSpring Securities, Maybank Securities (Thailand), Yuanta Securities (Thailand), Asia Plus Securities, and Thanachart Securities. Indorama Ventures is currently in the process of submitting documentation to the Securities and Exchange Commission (SEC). Investors can obtain more details at www.sec.or.th . Mr. DK Agarwal, Deputy Group CEO and CFO at Indorama Ventures, said, “We are confident that these perpetual bonds are attractive to investors, based on the 'A' credit rating and the satisfactory returns. Indorama Ventures’ sound business fundamentals and financial strength underpin investors’ confidence in our perpetual bonds, as was the case in previous issuances.”
- May 23, 2024Sports
Making dreams come true
The Seven Network and Pinterest today announced the launch of an innovative integrated partnership in the brand-new renovation series, Dream Home , on Channel 7 and 7plus. In an Australian first for Pinterest, the partnership will capitalise on the highly anticipated room reveals in Dream Home , which launches at 7.00pm this Sunday, 26 May. The partnership will allow viewers and Pinterest users to explore the room reveals, curate their own “dream homes” online and buy products from key program sponsors. After each episode, the room reveals will be dropped into boards on Pinterest, with viewers able to look through and save inspiration for their own home renovation. Pinterest is launching a competition to support the Dream Home launch, called Pinterest’s Dream Home Curation Challenge , where viewers can curate their own dream home by mixing and matching their favourite designs and products from the show on Pinterest. Each Dream Home board on Pinterest will be judged and the winners will receive a prize including a lifetime of savings from Three Birds Renovations to help take the inspiration into real life. Seven West Media Chief Marketing and Audience Officer, Mel Hopkins, said: “We are really excited about and proud of this unique partnership with Pinterest, which will have huge benefits for viewers and sponsors. “Seven and Pinterest recognised a desire among viewers to lean into key moments in Dream Home and have their say. This partnership provides a new and compelling way for people to connect with a program. “At the same time, this integration closes the loop with the cross-screen experience in a contextually relevant way where people can engage, curate and shop directly with Dream Home ,” she said. Pinterest Managing Director Australia and New Zealand, Melinda Petrunoff, said: “We are thrilled to be partnering with Seven in a way that Pinterest has never done before. “Aussies love searching for and pinning their favourite ideas for home renovations and now Dream Home viewers will have the opportunity to engage with the show in a way that naturally complements their viewing experience. Not only can they explore the dream homes on Pinterest, but they can also take action and purchase items they love for their own home.” Hosted by Dr Chris Brown, Dream Home is set to take the home renovation genre to new heights, as six pairs of everyday Aussies battle it out room by room, transforming tired suburban family homes into astonishing new dream homes. Following renovations in each state, the top three couples will have the opportunity to have their backyards completely made over with stunning gardens and outdoor living spaces. The winning couple will receive their very own dream home and a life-changing cash prize of $100,000. Produced by Endemol Shine Australia (A Banijay company), Dream Home will inspire and ignite Australia’s love of home renovation. For further information, please contact: Neil Shoebridge M: 0417 511 012 E: neil@skmediagroup.com.au Andrew Knowles M: 0449 510 357 E: andrew@skmediagroup.com.au About the Seven 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 23, 2024Event Announcement
Uptown to host Australian premiere of Titanic exhibition
Titanic. The Human Story exhibit Credit: Vicinity Centres Internationally acclaimed exhibition Titanic. The Human Story will make its Australian debut at Uptown in Brisbane's CBD this July. The immersive journey which features over 200 artifacts and personal items from Titanic passengers and crew will take visitors through the history and legacy of the most infamous ship of all time. Titanic. The Human Story exhibit Credit: Vicinity Centres Uptown Centre Manager Katrina Warren said hosting Titanic. The Human Story underscores our CBD's appeal as one of Australia’s ultimate destinations. “This exhibition provides a unique opportunity for visitors to Uptown to share in a historical moment," she said. Titantic. The Human Story exhibit Credit: Vicinity Centres Titanic. The Human Story features an extensive collection of over 200 original artifacts and personal belongings from the passengers and crew of the ill-fated ship. Visitors will be transported back in time through intimate narratives, life-size recreations of the ship’s interiors, and dynamic audio guides that provide a poignant glimpse into the lives affected by the tragedy. Titanic. The Human Story not only educates but also commemorates the heroic acts and the lives lost on 14 April, 1912. This exhibition is an unparalleled opportunity to delve into the true story behind the "unsinkable" ship, its myths, and its enduring legacy. Titanic. The Human Story will open at Uptown on 19 July 2024, running alongside the Australian first Dopamine Land also showing at Uptown. These arrivals follow the success of previous Australian-first endeavours in Brisbane's CBD, including the NBA exhibition and the thought-provoking Banksy's "Without Limits" exhibition. Tickets go on sale soon, sign up to the waitlist here
- May 23, 2024Land & Property
EVT announces the first QT Hotel in Asia
With a presence in Australia, New Zealand, and now Singapore, QT continues to redefine premium designer lifestyle accommodation across the Asia-Pacific region. EVT, a proud Australasian leader in the hospitality industry, is delighted to announce that Hotel Telegraph in Singapore will transform into QT Singapore this September, the first QT Hotels & Resorts property in Asia. Awarded the management contract for the property in December 2023, EVT has been operating Hotel Telegraph at full capacity before closing its doors on 1 April 2024 to undertake an extensive QT transformation. QT Hotels & Resorts is one of Australia and New Zealand’s most dynamic hotel brands, with QT Singapore becoming the designer hotel collections' first property in Southeast Asia, expanding the network outside of ANZ. QT Singapore will see the culturally rich site of the former Hotel Telegraph transformed into the Group’s newest hub of playful luxury, with a full-scale refurbishment currently underway. Renowned for distinctive design, immersive experiences, and exceptional ‘unexpected and unrequested’ signature service, the multi-award-winning QT plans to reignite premium designer lifestyle accommodation in Southeast Asia. The EVT Design team, in partnership with interior designer Nic Graham, will bring the distinctive QT style to life with its renowned unique character, immersive experiences, and signature food and beverage. The property will undergo a revolution of its food and beverage offerings to showcase EVT’s award-winning culinary expertise, including the rooftop bar and pool to become Rooftop at QT, and the opening of a signature bar and grill. With more details to come, the bar and grill will nod to the property’s heritage. Drawing inspiration from the local climate and the building’s historical architecture, the newly designed property will blend rich colour palettes with bold patterns to curate a future stay that celebrates and reflects the tropical island’s vibrant beating heart. CEO of EVT, Jane Hastings says, “It’s a great moment for EVT to bring the design-led, vibrant world of QT to Singapore. This is a pleasing step forward in our hotels network expansion strategy, and we are delighted to be working with Sunray to make Singapore the first QT hotel outside of Australia and New Zealand. QT Singapore will be led by some of our award-winning talent and will be a destination for international travellers to relish and local guests to discover. Offering elevated food and beverage concepts and QT’s award-winning signature quirk and service philosophy, we are excited to introduce the energy and vibrancy that guests already love in Australia and New Zealand, to Singapore.” Charles Tan of Sunray Singapore, hotel owner says, “We are thrilled to introduce QT to the dynamic city of Singapore, in collaboration with EVT and Sunray Singapore. With its rich cultural tapestry and vibrant energy, Singapore is the perfect canvas for the QT brand to weave its magical guest experiences. EVT's expertise in the Australasian hospitality industry, coupled with Sunray’s shared commitment to innovation and excellence – having the extensive experience of major restoration heritage icons of Singapore like Raffles Singapore and National Gallery Singapore – ensures that QT Singapore will set a new standard for premium designer lifestyle accommodation in the Asia-Pacific region.” Synonymous with QT Hotels & Resorts, QT Singapore will boast a charmed city location. Situated next to Lau Pa Sat hawker centre, one of Singapore’s iconic attractions, and in the heart of the financial district, the hotel will offer effortless convenience for corporate and leisure guests. Delivering QT’s bold and creatively charged hospitality, QT Singapore has been designed in partnership with interior designer Nic Graham and will feature: Luxurious QT redesigned guest rooms and suites Signature bar and grill Rooftop at QT bar and pool, a vibrant retreat with sublimely curated cocktails surrounded by the city skyline Bespoke private dining for intimate celebrations and formal business meetings The four-storey heritage building with captivating neo-classical façade and architecture was first built in 1927 and played an influential role in Singapore’s telecommunication history for nearly a century. With prior conservation-led restorations, the transition to a luxurious designer QT hotel marks an exciting new chapter for the property. QT Singapore is accepting bookings from 16 September 2024. For more information and to make a booking, visit qtsingapore.com
- May 23, 2024Business
YTL Corp's 9-Month Profit After Tax Rises 186% to RM2.8 Billion (US$596 Million); Revenue Increases 9% to RM22.3 Billion (US$4.7 Billion)
YTL Corporation Berhad recorded revenue of RM22,258.5million (US$4,735.9 mn) for the 9 months ended 31 March 2024, a 9% increase compared to RM20,410.2 million (US$4,342.6 mn) for the previous corresponding 9 months ended 31 March 2023. Profit before tax grew 173% to RM3,569.2 million (US$759.4 mn) for the 9 months under review compared to RM1,306.3 million (US$277.9 mn) for the same period last year, whilst profit after tax rose 186% to RM2,802.3 million (US$596.2 mn) this year compared to RM979.7 million (US$208.4mn) for the same period last year. Executive Chairman, Tan Sri (Sir) Francis Yeoh Sock Ping, PSM, KBE, said, "We continued to see strong results through the third quarter of the 2024 financial year, with profit after tax up 186% and revenue increasing 9%, driven by better performance across the Group. All divisions contributed to the higher profit seen for the nine months under review. "The Group's EBITDA (earnings before interest, tax, depreciation and amortisation) increased 64% to RM7.0 billion for the 9 months ended 31 March 2024 compared to RM4.3 billion for the same period last year." Comparison with Preceding Year Corresponding Period YTL POWER INTERNATIONAL BERHAD YTL Power's 9-Month Profit After Tax Grows 176% to RM2.4 Billion Interim Dividend of 3.0 Sen per Share Declared YTL Power recorded an 8% increase in revenue to RM15,979.1 million for the 9 months ended 31 March 2024 compared to RM14,804.7 million for the previous corresponding 9 months ended 31 March 2023. Profit before tax increased 164% to RM2,875.5 million for the 9 months under review compared to RM1,091.2 million for the same period last year, whilst profit after tax grew 176% to RM2,391.9 million this year over RM866.0 million for the same period last year. The Board of Directors of YTL Power declared an interim dividend of 3.0 sen per ordinary share in respect of the financial year ending 30 June 2024, the book closure and payment dates for which are 12 June 2024 and 28 June 2024, respectively. Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of YTL Power, said, "The Group achieved strong growth for the 9 months under review, driven primarily by better margins in the power generation segment. The water and sewerage segment recorded higher revenue due to new contracts secured within the non-household retail market and the price increase allowed by the industry regulator". EBITDA (earnings before interest, tax, depreciation and amortisation) for the 9 months ended 31 March 2024 increased 68% to RM5.2 billion, compared to RM3.1 billion for the same period last year. Comparison with Preceding Year Corresponding Period MALAYAN CEMENT BERHAD Malayan Cement's 9-Month Revenue Increases 24% to RM3.4 Billion & Profit After Tax Rises 301% to RM319 Million Interim Dividend of 4.0 Sen per Share Declared Malayan Cement's revenue increased 24% to RM3,405.0 million for the 9 months ended 31 March 2024 compared to RM2,746.5 million for the previous corresponding 9 months ended 31 March 2023. Profit before tax grew 296% to RM503.4 million for the 9 months under review compared to RM127.1 million for the same period last year, whilst profit after tax rose 301% to RM318.7 million this year over RM79.5 million for the same period last year. The Board of Directors of Malayan Cement declared an interim dividend of 4.0 sen per ordinary share in respect of the financial year ending 30 June 2024, the book closure and payment dates for which are 11 June 2024 and 26 June 2024, respectively. Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, "Malayan Cement's better performance for the 9 months under review was attributed to stabilisation of the selling price for both domestic cement and ready-mixed concrete, coupled with continued improvements in operational efficiencies". EBITDA (earnings before interest, tax, depreciation and amortisation) increased 93% to RM907.4 million for the 9 months ended 31 March 2024, compared to RM469.4 million for the same period last year. Comparison with Preceding Year Corresponding Period YTL HOSPITALITY REIT YTL Hospitality REIT's 9-Month Revenue Increases 15% to RM425 Million with 26% Growth in Distributable Income to RM106 Million YTL Hospitality REIT's revenue increased 15% to RM424.7 million for the 9 months ended 31 March 2024 compared to RM369.3 million for the previous corresponding 9 months ended 31 March 2023. Net property income (NPI) rose 17% to RM223.7 million for the 9 months under review compared to RM191.3 million for the same period last year, whilst income available for distribution grew 26% to RM106.1 million this year compared to RM84.2 million for the same period last year. Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, "Improved performance of the Trust's Australian portfolio was driven by increased international arrivals owing to entertainment and sports events held in Sydney and Brisbane, which drove up average daily room rates and occupancy rates. In the property rental segment, better performance was due to rental income from the new Hotel Stripes Kuala Lumpur, acquired on 31 October 2023, and step-up rental from the renewal of the lease agreement for the JW Marriott Hotel Kuala Lumpur". Comparison with Preceding Year Corresponding Period
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