FEATURED NEWS
- May 14, 2024Business
Indorama Ventures achieves ‘AA’ rating from MSCI for its ESG journey
Indorama Ventures Public Company Limited, a global sustainable chemical company, announced that MSCI awarded the company an upgraded ‘AA’ from ‘A’ rating, ranking it in the ‘Leader’ category for its Environmental, Social, and Governance (ESG) performance towards achieving its ongoing sustainability goals and commitments. Morgan Stanley Capital International (MSCI), a leading provider of research-driven indices and analytics, ranked Indorama Ventures among the top 12% of 57 global companies in the commodity chemicals sector. This upgraded rating illustrates Indorama Ventures’ performance to exceed industry peers while minimizing its environmental footprint. Yash Lohia, Chairman of the ESG Council at Indorama Ventures, said: “We are immensely proud of our upgrade to an 'AA' MSCI ESG rating, which not only highlights our dedication to sustainable operational excellence but also aligns with our purpose of reimagining chemistry together to create a better world. This recognition is a testament to our unwavering commitment to environmental stewardship, ethical governance, and social responsibility.” The MSCI ESG Ratings play a pivotal role in guiding investor decisions and offer insights into how well companies address key long-term ESG risks and opportunities compared to their industry peers. These ratings range from AAA (highest) to CCC (lowest), providing a transparent, data-driven benchmark that helps guide investment decisions based on sustainability criteria.
- May 13, 2024Others
Progress Report on Field Testing of Collecting Plastic Containers for Personal and Home Care Products Using a Local Government Collection Route
From April 2023 to March 2024, Kao Corporation worked with general recycling business Nakadai Co. Ltd. to conduct field testing for recycling plastic packaging used for personal and home care products in the Japanese city of Satsumasendai, Kagoshima Prefecture. The one-year program, targeting approximately 1,300 households in the city, collected the packaging using the city’s existing recycling route. Recycling of PET plastic beverage bottles via local government routes for recyclables is already well established, but this field-testing scheme for personal and home care product plastic containers is the first of its kind* . Several similar programs now in effect aim to find answers to the issues experienced in field testing of obtaining sufficient quantities of materials to recycle and reducing the cost of collection to set up a sustainable collection system. Field testing in Satsumasendai is being conducted as part of the Circular Park Kyushu project for a sustainable future and has been incorporated into the city’s SDGs Innovation Trial Support Project. Results of field testing and prospects for the future are described below. *According to Kao data as of April 2023. News Release from April 2023 Field Testing of a New Collection Scheme in Japan Using Local Government Collection Route to Achieve Horizontal Recycling of Plastic Containers for Personal and Home Care Products Used plastic containers left in a collection box (left) are stored at a city-owned collection point (right), from where Nakadai collects them once a week for quantity and quality analysis Description of the Field Testing Satsumasendai City currently collects recyclables (washed and dried plastic containers for personal and home care products, food packaging and colored food trays) once or twice a month. To facilitate participation, all plastic packaging for personal and home care products, with the exception of tubes, is collected and can be left at local collection points where consumers already drop off other recyclables. Items Evaluated and Results Obtained Ensuring a stable, sufficient supply of containers as a source of materials A total of 715kg of plastic containers was collected from 1,300 households. Ensuring quality of recyclables for re-use Only 3% of the total packaging collected was deemed ineligible, and around 90% was high-quality material that had been washed and dried. It is expected that 98% of the material collected will be of acceptable quality suitable for recycling. Reducing collection costs to make the scheme sustainable This field-testing scheme has been incorporated into Satsumasendai City’s SDGs Innovation Trial Support Project, which is providing support in the form of coordination with personnel and making available more collection points. Collection costs are shouldered by Kao and Nakadai. Participants’ Comments To identify issues with the collection scheme during the field-testing period and gain insights into what could increase motivation to take part, participants were asked to reply to a questionnaire. While respondents agreed that the scheme was valuable in terms of reducing the burden on the environment and making good use of resources, many of them found the requirement to sort, wash, dry and take used packaging to a collection point burdensome. In particular, since the packaging was only collected once every two weeks, respondents brought up the issue of needing to store the containers at home until collection time or felt that it was more convenient to be able to drop them off at supermarkets, etc. any time, pointing to the need for improvement in this area. Looking to the Future With these field-testing results in mind, Kao and Circular Park Kyushu, working together with Satsumasendai City, will implement a new scheme for one year, from April 2024 to March 2025, reflecting the insights gained from the questionnaire. Under the new scheme, the plan is to use supermarkets in Satsumasendai as collection points for used packaging. Analysis work and other tasks, conducted so far by Nakadai, will be taken over by Circular Park Kyushu in conjunction with the start of operations by Circular Park Kyushu Co., Ltd. in Satsumasendai. Collection frequency, previously twice a month, will be greatly expanded, which is expected to increase the volume of used containers collected. Collection costs within the scheme as a whole will continue to be studied by the parties involved. In April 2019, the Kao Group established the Kirei Lifestyle Plan, an ESG strategy. Since 2021, the Kao Group has been promoting the Kao Group Mid-term Plan with its vision of “protecting future lives” and “sustainability as the only path.” This field testing for collecting plastic containers addresses one of the Kirei Lifestyle Plan’s leadership actions of achieving “zero waste.” Through this field testing, Kao will continue to examine recycling schemes to expand self-directed participation by stakeholders in each step of the recycling process, from sorting and collection to transport and recycling. The company aims to gain the understanding and support of consumers in particular as active participants in resource circularity, from product selection and use to sorting, collection and recycling of packaging. The Kao Group will continue to integrate its ESG strategy into its management practices, develop its business, provide better products and services for consumers and society, and work toward its purpose, “to realize a Kirei world in which all life lives in harmony.” *This news release is a translation of a Japanese-language news release dated April 11, 2024. About the Kirei Lifestyle Plan Over the past 130 years, Kao has worked to improve people’s lives and help them realize more sustainable lifestyles—a Kirei Lifestyle. The Japanese word ‘kirei’ describes something that is clean, well-ordered and beautiful, all at the same time. The Kao Group established its ESG strategy, the Kirei Lifestyle Plan in April 2019, which is designed to deliver the vision of a gentler and more sustainable way of living. By 2030, Kao aims to empower at least 1 billion people, to enjoy more beautiful lives and have 100% of its products leave a full lifecycle environmental footprint that science says our natural world can safely absorb. Please visit the Kao sustainability website for more information. About Kao Kao creates high-value-added products and services that provide care and enrichment for the life of all people and the planet. Through its portfolio of over 20 leading brands such as Attack , Bioré , Goldwell , Jergens , John Frieda , Kanebo , Laurier , Merries, and Molton Brown , Kao is part of the everyday lives of people in Asia, Oceania, North America, and Europe. Combined with its chemical business, which contributes to a wide range of industries, Kao generates about 1,530 billion yen in annual sales. Kao employs about 34,300 people worldwide and has 137 years of history in innovation. Please visit the Kao Group website for updated information. Media inquiries should be directed to: Public Relations Kao Corporation corporate_pr@kao.com
- May 13, 2024Sports
Seven welcomes the newest David Leckie Seven Scholarship Program winner
Seven West Media is pleased to announce and welcome the third recipient of the annual David Leckie Seven Scholarship Program: Alessandro Rosini. A recent graduate of Melbourne’s Swinburne University of Technology, where he completed a bachelor’s degree in media and communications (majoring in journalism), Alessandro joins Seven West Media today and will initially work in the Sydney digital division. He follows in the footsteps of previous scholarship recipients Madeline McKeown and Nuwan Ranasinghe. The David Leckie Seven Scholarship Program was set up in late 2012 to honour the career and legacy of the late David Leckie, former Seven West Media Chief Executive Officer. The program offers a 12-month role at Seven West Media for a graduate with a passion for sales, programming or news. It was set up in partnership with Skye Leckie and David and Skye’s sons, Harry and Ben. The selection process is overseen each year by Skye, Harry and Ben Leckie and senior Seven West Media executives. Skye, Harry and Ben Leckie said: “We are greatly honoured that Kerry Stokes and Seven provide this wonderful program for a young person. “Alessandro is an outstanding individual and we are so thrilled for him to have this extraordinary opportunity. It’s a chance for him to be able to fulfill his dream and be immersed in the ever-changing media world. “David had many loves during his years in media, but TV was his #1. We are thrilled that his legacy can continue and allow others to have the experience of working in TV. Thank you to Jeff and the team at Seven for yet again finding such impressive candidates for this great scholarship program,” they said. Seven West Media Managing Director and Chief Executive Officer, Jeff Howard, said: “Alessandro was an outstanding candidate and is a really deserving recipient of this year’s scholarship. He is passionate about the media business, highly motivated and very keen to learn. “David was a legendary leader at Seven and in the media industry, and his legacy lives on in the many people in our business he mentored, the content and strategies he championed, and the passion for media he instilled in everyone he met. It also lives on in this scholarship program, which is both a tribute to David and a great way for Seven to support and develop new recruits. “It’s great to welcome Alessandro to Seven today and along with Skye, the Leckie family and the entire Seven team, I wish him every success,” he said. For more 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 Seven West Media Seven West Media (ASX: SWM) is one of Australia’s most prominent media companies, reaching more than 19 million people a month with a market-leading presence in content production across broadcast television, publishing and digital. 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 13, 2024Business
Teleport is making affordable next-day delivery a reality for all
Teleport, an integrated logistics provider, is making affordable next-day delivery a reality for all businesses in Southeast Asia, with the target of delivering two million parcels daily by 2025, on par with global express players. The market is at an inflection point - there is more cross-border e-commerce volume flowing into Southeast Asia than ever before – key e-commerce lanes between China and the top five Southeast Asia countries is expected to grow to USD 3.8 billion in freight value in 2025. Cross border e-commerce volume by air is forecasted to grow 20%-25% through to 2027, reflecting continued market growth in the region. With increased market demand and growth, consumers have increasing expectations for faster yet more affordable delivery. “The market is ready. We are ready. We want to change the game of how cross border logistics is delivered in Southeast Asia. Delivering fast, affordable and reliable service is hard but we believe our approach can make this a reality for all. Controlling the right hybrid belly network, enabled by the right use of technology, and the right operating model provides our customers and partners a next-day service in Southeast Asia that, for the first time, everyone can afford,” Pete Chareonwongsak, CEO of Teleport said. Teleport held a media briefing today in Kuala Lumpur to share the company’s growth strategy over the next five years. During the briefing, Pete and the Teleport leadership team shared what it takes to successfully deliver on its next-day ambition, with the goal to achieve two million daily parcels by 2025. Teleport’s growth strategy comprises three key components: i. A hybrid network: Continue to strengthen its network infrastructure with extensive first- to last-mile next-day delivery infrastructure, as well as working with more air partners to add more capacity on key high volume lanes. This is on top of its existing stronghold in Southeast Asia comprising a multi-hub hybrid mid-mile belly network of freighters and passenger belly space of more than 30 partner airlines combined; ii. Reliability powered by technology: Safeguarding the reliability of a next-day, affordable delivery by ramping up the right technology build that will firstly, enable seamless orchestration from first to last mile; secondly, provide full visibility to ensure that it works for all; and finally, to incorporate intelligence to ensure that it works regardless, with the capability for automated yet flexibility in planning, prediction and most importantly, service recovery; iii. A cost-leading, sustainable operating model: Teleport’s asset-light, pay-per-use model enables it to operate with a lower cost structure - to ensure more growth drives continued profitability. Customers benefit by way of affordable pricing and growing network access. When third party airline partners with Teleport, they benefit from incremental revenue gained through new and growing volume channelled through their belly capacity. “This is our next stage of growth. Affordable, next day delivery for all in Southeast Asia is the final mission from the day one vision. Our next 5 years will deliver this, and help all businesses with simpler and better service, but also our airline partners will never have to fly empty. We succeed when we ensure everyone wins with Teleport. Market growth is unlimited when we do.” said Pete. For access to full Media Kit, click HERE . For more information about Teleport’s business, visit teleport.asia .
- May 13, 2024Business
AirAsia continues to champion women in airline operations with launch of Moms-on-Duty kit
To celebrate Mother’s Day, AirAsia today announced the addition of a new nursing cover to its signature uniforms for pilots and cabin crew. The cover is part of a Moms-on-Duty kit that the airlines will be providing to new mothers in operations starting this year. The uniform enhancement symbolically marks the launch of a new Diversity, Equity, and Inclusion (DEI) initiative at the airline to create stronger workplace policies in support of working mothers in operational roles. AirAsia Chief People Officer, Intan Shahira Mohd Shahru said, “Women who work in operational roles face unique challenges. They are required to work shifts in an unconventional work environment. The adjustment back to flying hours while juggling motherhood responsibilities can significantly impact their wellbeing, especially those who are still nursing. Since last year, we began looking into policies and practices that can ease their return to work.” Among findings from focus group discussions conducted with Allstar mothers working as pilots and cabin crew include the limited time they have to express breastmilk before, during, or in-between flights as well as the lack of a private space on an aircraft. As a result, some have had no choice but to extend their maternity leave on an unpaid basis or to leave the profession altogether. Others have experienced uncomfortable looks either from guests or co-workers. Intan added, “This campaign is important for AirAsia to stand with our moms and say that it is normal to be a working mother. It is also a part of creating a safe and conducive work environment for our Allstars.” View this post on Instagram A post shared by Fly AirAsia (@flyairasia) To address issues highlighted by the crew, the Moms-on-Duty Kit includes a handbook that provides working mothers with guidelines on items such as how to inform their co-workers when they require time and privacy to express breastmilk. The guide also includes references on how to seek in-house support on health and nutritional matters. An AirAsia baby romper completes the set as a gift to their newborn. Intan said “The introduction of the Moms-on-Duty Kit is part of a broader initiative for AirAsia to boost female participation in operational roles. AirAsia is committed to improving its policies and practices to boost women participation in operational roles. This includes enhancing the facilities and offices, as well as improving income security for pregnant pilots, cabin crews and engineers in line with global aviation best practices guidelines published by the International Civil Aviation Organization.” In 2022, AirAsia extended maternity leave for all its staff in Malaysia from 60 days to 98 days. AirAsia opened a childcare centre at its headquarters, RedQ, in 2018. The centre accepts children from 11 months to 6 years and currently cares for 80 children of working Allstars. In its Sustainability Report 2023 published last week, AirAsia reported positive outcomes in its efforts to improve female participation in leadership and STEM roles. Its achievements included increasing the proportion of women occupying leadership positions to 32% from 24% the previous year. Female pilot representation also rose to 7% from 6.6% and women in IT roles to 23.9% from 17.7% in 2022.
- May 11, 2024Business
SIA Engineering Company Appointed as Strategic Partner by Air India for Development of Base Maintenance Facilities in India
Mainboard-listed SIA Engineering Company Limited (“ SIAEC ”) is pleased to be appointed by Air India Limited (“ Air India ”) as its Base Maintenance (“ BM” ) strategic partner for the development of Air India’s BM facilities located in Bangalore, India. As part of the partnership, SIAEC will work closely with Air India on the planning, construction, development and operationalisation of Air India’s BM facilities in Bangalore. Projected to be ready in 2026, the BM facilities will comprise both widebody and narrowbody hangars, including associated repair shops, to support the growing Maintenance, Repair and Overhaul (“ MRO ”) needs of Air India Group’s aircraft fleet. Chin Yau Seng, Chief Executive Officer, SIAEC , said: “We are delighted to be able to play a small part in Air India’s amazing transformation journey and look forward to working closely with the Air India team to ensure the success of this project. This appointment marks another significant milestone in the development of the partnership between Air India and SIAEC. Going forward, we hope to have even more opportunities to collaborate with Air India in the MRO space in India.” Campbell Wilson, Chief Executive Officer & Managing Director, Air India , said: “The collaboration with SIA Engineering Company will not only help Air India become more self-reliant for the maintenance of its own fleet but it also reiterates our commitment to strengthen India’s aviation infrastructure by boosting the growth of the country’s MRO industry.” The transaction is not expected to have a material impact on the net tangible assets per share or the earnings per share of the SIAEC Group for the financial year ending 31 March 2025. None of the Directors and controlling shareholders of SIAEC has any interest, direct or indirect, in the transaction, other than through their shareholdings (if any) in SIAEC. * * * * * About SIA Engineering Company (Company Registration No. 198201025C) www.siaec.com.sg SIA Engineering Company (SIAEC) is a major provider of aircraft maintenance, repair and overhaul (MRO) services in Asia-Pacific. SIAEC has a client base of more than 80 international carriers and aerospace equipment manufacturers. It provides line maintenance services at more than 30 airports in 8 countries, as well as airframe, engine and component services on some of the most advanced and widely used commercial aircraft in the world. The 23 subsidiaries and joint ventures with original equipment manufacturers and strategic partners in Singapore, Hong Kong, Indonesia, Malaysia, Japan, Philippines, United States of America and Vietnam increase the depth and breadth of the Company’s service offerings. SIAEC has approvals from 29 national aviation regulatory authorities to provide MRO services for aircraft registered in the United States of America, Europe, China and other countries. For further information, please contact: Tan May Lyn Manager Corporate SIA Engineering Company Limited Tel: (65) 6548 1157 E-mail: maylyn_tan@singaporeair.com.sg
- May 10, 2024Business
NX Global Engineering conducts sustainability training visit to urban agricultural site in Singapore
NX Global Engineering Pte. Ltd. (President: Hirofumi Kawai; hereafter "NX Global Engineering"), a group company of NIPPON EXPRESS HOLDINGS, INC. (President: Satoshi Horikiri), participated in a plantation tour and a microgreen cultivation workshop organized by Edible Garden City, a plantation operator in Singapore. (Group photo) (Plantation tour) Singapore relies on imports for more than 90% of its food, and low food self-sufficiency is a social problem. To address this issue, Singapore is pursuing a "30 by 30" initiative aimed at raising its food self-sufficiency rate to 30% by 2030. Agriculture utilizing food tech such as cell-cultured meat and other technologies has garnered attention in this initiative as the country's next growth industry, and Singapore has been working in earnest to foster this industry. Established in 2016, NX Global Engineering is a company that handles heavy haulage and maintenance for a variety of plants and factories. The members who took part in this recent training visit commented that the program had boosted their awareness of the importance of food production in Singapore and given them an opportunity to think about their own roles in achieving sustainable societies. The NX Group will continue actively communicating with local communities and engaging in community-based social activities with the aim of realizing sustainable societies.
- May 10, 2024Travel & Leisure
AirAsia continues to support FLYsiswa to fly students home with affordable fares
AirAsia is proud to continue supporting the FLYsiswa initiative, which provides subsidies for domestic flight tickets for public university students. This commitment follows the recent reinstatement of the initiative by the Ministry of Transport Malaysia. With the expansion of AirAsia's routes this year, including the addition of flights between Penang and Kuching as well as Penang and Kota Kinabalu in March, students now have access to 47 routes across the airline's extensive domestic network, bridging Peninsula Malaysia and East Malaysia, as well as within East Malaysia. The application process for AirAsia can be completed in a few simple steps by clicking the 'Redeem Now' button at airasia.com/aa/flysiswa . During the redemption process, simply enter the voucher number on the payment page. Paul Carroll, Group Chief Commercial Officer of AirAsia said: “We are pleased to continue supporting the government’s FLYsiswa initiative this year. In 2023, more than 90% of the 24,730 students who claimed the voucher with AirAsia, flew home with us. True to our tagline ‘Now Everybody Can Fly’, we understand the importance of enabling affordable connectivity, especially for students, and we are honoured to play a part in facilitating their journeys home.” This initiative applies to all students pursuing tertiary education at public universities in Malaysia, including polytechnics and community colleges under the Ministry of Higher Education (MOHE), matriculation colleges, and Institutes of Teacher Education Malaysia under the Ministry of Education Malaysia (MOE). Students are encouraged to check their eligibility based on the criteria set by the Ministry of Transport of Malaysia. All eligible students are entitled to receive a RM300 voucher. Students who are unable to meet the criteria can appeal to the MOHE or MOE through their respective institutions. The RM300 voucher will serve as a credit shell* that can be used for multiple purchases until the subsidised value has been fully utilised. The FLYsiswa initiative is now open for applications until 30 November 2024. Students can utilise their voucher immediately after successful redemption until 31 December 2024, with the travelling period up to 31 December 2025. *If the air ticket was purchased for a fare lower than RM300, the remaining amount from the voucher will be kept as a credit shell for future purchases.
- 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
TOPPAN Gravity Establishes New Passport Manufacturing and Issuance Plant Through Joint Venture with Ethiopian Government
TOPPAN Gravity Ethiopia Share Company (TOPPAN Gravity Ethiopia), a joint venture between TOPPAN Gravity Limited (TOPPAN Gravity) and the government of Ethiopia, held the groundbreaking ceremony for a new passport manufacturing and issuance plant in Addis Ababa, Ethiopia, on May 8. TOPPAN Gravity and the Ethiopian government established TOPPAN Gravity Ethiopia in July 2023 to drive the manufacture and issuance of passports, IDs, driving licenses, and other government-issued documents. The TOPPAN Group holds a 51% stake in the company via TOPPAN Gravity’s UAE-based subsidiary Gravity Group Ind. L.L.C and one other company, while the Ethiopian government holds a 49% stake through the Ethiopian national printer and two other companies. The new plant will draw on the TOPPAN Group’s accumulated security printing and data processing technologies as well as its expertise in the handling of personal information to help drive the development of public infrastructure in Ethiopia. TOPPAN will also provide support for onsite operations and contribute to job creation in Ethiopia. Background With future population growth and economic development anticipated, many African countries are seeing increased needs for the enhancement of social infrastructure. This is driving demand for solutions that aid governments in managing citizens’ data from the stage of birth registration and enable more citizens to access public services. The TOPPAN Group’s security business traces its roots back to the security printing that was core to its operations at the time of its founding in 1900. Backed by this extensive track record, the TOPPAN Group has provided government IDs for more than 40 countries. The TOPPAN Group is now employing its technologies and solutions in launching the joint venture with the Ethiopian government to deliver a full suite of passport and ID issuance solutions to Ethiopia, ranging from personal data registration and database management to business process outsourcing. Future With the launch of the manufacturing plant in Ethiopia as a first step, the TOPPAN Group plans to harness its technologies and solutions to establish capabilities for the provision of a full range of government ID solutions in the African market, with a view to producing IDs and passports for neighboring countries in the future. The government of Ethiopia, meanwhile, will ensure operational design aligned with local needs by establishing rules and regulations for passports and IDs. Overview of the new company and plant About TOPPAN Gravity TOPPAN Gravity is a subsidiary of TOPPAN NEXT, serving as the international development arm of the TOPPAN Group in the security domain. Being part of the most prestigious conglomerate in the industry with decades of experience and multiple well-known references, TOPPAN Gravity benefits from the TOPPAN Group’s strong market position and extensive expertise. As a global solutions provider primarily focused on the payment and identity industries, TOPPAN Gravity aims at developing the next generation of virtual and physical security solutions. https://www.toppangravity.com https://www.linkedin.com/company/toppan-gravity/ About the TOPPAN Group Established in Tokyo in 1900, the TOPPAN Group is a leading and diversified global provider committed to delivering sustainable, integrated solutions in fields including printing, communications, security, packaging, décor materials, electronics, and digital transformation. The TOPPAN Group’s global team of more than 50,000 employees offers optimal solutions enabled by industry-leading expertise and technologies to address the diverse challenges of every business sector and society and contribute to the achievement of shared sustainability goals. https://www.holdings.toppan.com/en/ https://www.linkedin.com/company/toppan/
- May 9, 2024Finance & Loan
Fujifilm Announces Financial Results for Fiscal Year Ended March 31, 2024
FUJIFILM Holdings Corporation announced today financial results for fiscal year ended March 31, 2024. In the fiscal year ended March 31, 2024, revenue increased by 3.6% year-over-year to JPY2,960.9 billion, mainly due to strong sales in the Medical Systems and Imaging businesses and the impact of exchange rates. Thanks to revenue growth and the impact of exchange rates, operating income amounted to JPY276.7 billion, an increase of 1.3% year-over-year. Net income attributable to FUJIFILM Holdings increased by 11.0% year-over-year to JPY243.5 billion due to higher operating income and valuation gains on marketable and investment securities. “We are proud to have achieved remarkable milestones in the last fiscal year, with our highest ever sales, operating income, and net income. Our positive results demonstrate our growing earning power,” says Teiichi Goto, president and chief executive officer, representative director, FUJIFILM Holdings Corporation. “In line with our new medium-term management plan VISION2030, we will strengthen Fujifilm Group’s corporate value by prioritizing profitability and capital efficiency in our management approach. Also, as expressed in our Group Purpose “Giving our world more smiles,” we aim to be a company that brings smiles to the faces of our various stakeholders by reinvesting the value we generate back into society.” As stated in the new medium-term management plan "VISION2030" announced on April 17, 2024, the company target is to achieve record-high sales of JPY3,100 billion, and record-high operating income of JPY300 billion for fiscal year ending March 31, 2025. It also plans to invest JPY757 billion in growth, mainly in Bio-CDMO and Semiconductor Materials, which is higher than the previous fiscal year ended March 31, 2024. Highlights by business segments Healthcare: Revenue increased 5.0% year-over-year to JPY975.1 billion due to higher revenue in the Medical Systems and Bio-CDMO businesses, while operating income decreased 5.2% year-over-year to JPY97.4 billion mainly attributed to the absence of the previous year’s one-time gains recorded in Pharmaceuticals business and an increase in one-time expenses, including inventory write-downs in the Bio-CDMO and LS Solutions businesses. In the Medical Systems business, revenue was driven higher by steady sales of endoscopes, CT, MRI, and other products. Endoscope sales increased primarily in Japan, the U.S., Europe, and China, while CT and MRI sales were driven by higher sales in Central and South America, the Middle East and India. In the Bio-CDMO business, revenue increased due to the solid performance in contract manufacturing of antibody drugs, mainly at the Denmark site, where productivity also improved. Meanwhile, slow orders for gene therapy and other drugs, reflecting the difficult fundraising climate for biotech venture customers, led to inventory write-downs in the first and third quarter on components and consumables nearing the end of their shelf life. In the LS Solutions business, revenue was driven lower in Pharmaceuticals by the absence of one-time revenue from the previous year’s transfer of the radiopharmaceutical business, while revenue rose in Life Sciences due to license fee income from BlueRock Therapeutics for its program to treat eye diseases using iPS cell technology, in addition to a recovery in sales of culture media for the production of antibody drugs. Materials: Revenue increased 1.2% year-over-year to JPY690.0 billion and operating income decreased 34.5% year-over-year to JPY42.9 billion, mainly hit by higher one-time expenses related to M&A. In the Electronic Materials business, despite stagnant semiconductor market conditions, revenue increased 10.6% year-over-year due to contributions from the semiconductor process chemicals business acquired from Entegris, Inc, in October 2023. In the Display Materials business, revenue increased as panel makers' operations recovered from the previous year, when production adjustments were made throughout the supply chain. In the Graphic Communication business, revenue decreased mainly due to lower demand for printed materials in the printing plates fields, especially in Europe and the U.S. In the Inkjet business, revenue fell as sales of inkjet printheads for the ceramic market were driven lower due to sluggish demand in China’s real estate markets. Business Innovation: Overall revenue decreased by 1.4% year-over-year to JPY826.1 billion, but operating income increased by 1.8% year-over-year to JPY70.8 billion, due to the effect of worldwide sales price revisions and other favorable factors. In the Office Solutions business, revenue decreased as the expansion of new OEMs, worldwide price revisions and other factors were not enough to offset lower exports of devices and consumables to Europe and the U.S. In April of this year, full-scale sales of the Apeos series of digital multifunction devices/printers began in the European region through leading distributors. In the Business Solutions business, revenue rose mainly due to the effects of the initial consolidation of FUJIFILM MicroChannel and sales digital transformation (DX) solutions. Imaging: Strong sales of instant photo systems and digital cameras boosted revenue by 14.5% year-over-year to JPY469.7 billion and operating income by 39.9% year-over-year to JPY101.9 billion. In the Consumer Imaging business, steady sales of the INSTAX instant photo systems drove revenue higher. INSTAX's sales target of JPY150 billion for FY2025 was achieved one year ahead of schedule. In the Professional Imaging business, revenue rose due to strong sales of X-S20 launched in June 2023 and GFX100 II launched in September 2023, in addition to brisk sales of X-H2, X-H2S and X-T5 released in the previous fiscal year. In February 2024, the X100VI high-end compact digital camera was launched, featuring a back-illuminated 40.2 MP sensor and the latest processor. For more details, please visit the Investor Relations section of Fujifilm website https://ir.fujifilm.com/en/investors/ir-materials/earnings-presentations.html Contact Media Contact FUJIFILM Holdings Corporation Coprorate Communications Division, Public Relations Group +81-3-6271-2000 * Please note that the contents including the product availability, specification, prices and contacts in this website are current as of the date of the press announcement and may be subject to change without prior notice.
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