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Archive for June 23rd, 2011

SMX Appoints Mr. Vaidyalingam Hariharan as Interim Chief Executive Officer

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2011-06-21 17:36 


SINGAPORE, June 21, 2011 /PRNewswire-Asia/ –The Singapore Mercantile Exchange (“SMX”) announced today that Mr. V Hariharan has been appointed as the interim CEO with effect from June 20, 2011.  He will take over from Mr. Thomas McMahon, who leaves SMX at the end of this month but continues to lend his market knowledge to the group as an external adviser.

Mr. Hariharan is a qualified technology and management professional with extensive experience in areas of technology development and conceptualization, exchange management, business strategy and international relations.  He has immense knowledge in the field of exchanges, with previous stints at the Bombay Stock Exchange (BSE), National Stock Exchange of India Ltd. (NSE) and Multi Commodity Exchange of India Ltd. (MCX).  Mr. Hariharan has been notably involved in MCX (6th largest commodity Exchange in the world), and Indian Electricity Exchange (IEX – No. 1 Electricity Exchange of India) where he has been involved right from the inception as director on the board to implement these green-field Exchanges.

From December 2000, he has held pivotal roles within the Financial Technologies Group — a leading provider of trading technology solutions and the creator of several exchange and support eco-system ventures across India, Middle East, Asia and Africa.  Mr. V Hariharan has been director on the board of various exchanges and support companies including the boards of SMX and its wholly-owned subsidiary, SMX Clearing Corporation from the very beginning.

“The Board is pleased to have Mr. Hariharan at the helm of SMX during this critical transitional phase.  With his vast experience of new exchange implementation in multiple Greenfield projects and his long association with the SMX, we are confident he will keep the Exchange on a steady course,” says Mr. Ang Swee Tian, Chairman of SMX.

About Singapore Mercantile Exchange:

Singapore Mercantile Exchange is a pan-Asian multi-product commodity and currency derivatives exchange situated in Singapore. It offers a comprehensive platform for trading a diversified basket of commodities, including futures and options contracts on precious metals, base metals, agriculture commodities, energy, currencies and indices.

SMX offers market participants the benefits of market transparency, time zone convenience, price discovery and benchmarking, price risk management and multiple connectivity options. Counterparty clearing and settlement risk is effectively managed through its clearing house, the Singapore Mercantile Exchange Clearing Corporation.

The regulator of Singapore’s financial markets – the Monetary Authority of Singapore (MAS) – granted SMX ‘Approved Exchange’ status since 2010.

SMX is backed by the world’s leading creator of exchanges – Financial Technologies (India) Limited – which has successfully established 10 exchanges across India, Dubai, Singapore, Africa, Mauritius and Bahrain.

SMX is a member of leading international derivatives industry associations, such as the Futures Industry Association (FIA), the Swiss Futures and Options Association (SFOA), the Association of Futures Markets (AFM) and the Futures and Options Association (FOA).

More information,

Media enquiries contact:

Hasmita Rajan
Mobile: +65-9855-1507

Vishwesh Iyer
Think Public Relations
Mobile: +65-9101-8487


SOURCE Singapore Mercantile Exchange

Written by asiafreshnews

June 23, 2011 at 11:27 am

Posted in Business & Finance

Joint MPA-PayPal Operation Strikes Blow to Online Sellers of Counterfeit DVDs and Blu-ray Discs

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2011-06-22 10:00 


Dozens of Violating Accounts Immediately Shutdown Following Operation

SINGAPORE, June 22, 2011 /PRNewswire-Asia/ — On June 22, 2011, PayPal permanently closed the accounts of dozens of merchants making unauthorized use of PayPal’s global payment platform to conduct financial transactions that violate the company’s acceptable use policy. The action followed a joint operation with the Motion Picture Association (MPA) Asia Pacific, which was designed to identify merchants specializing in the sale of illegal counterfeit DVDs and Blu-ray Discs.

The operation took place over a three-month period and involved the close cooperation of investigators from the MPA Asia Pacific and PayPal’s Brand Risk Management department. The investigation uncovered that the majority of these merchants are based in mainland China, and that they market and ship their products directly to retail and wholesale customers worldwide.

“Our action today sends a strong message to all criminals that PayPal does not tolerate such illegal activity on our global payment platform and we work closely with industry organizations, like the MPA, who alerted us to these intellectual property right violations,” said Julie Bainbridge, PayPal’s head of Global Brand Risk Management.” This operation also sends a reassuring signal to our users that their PayPal purchases are more trustworthy and secure. While the vast majority of business conducted on our platform is legitimate, we will investigate any and all reported violations of our acceptable use policy.”

“We are very pleased that this joint operation has resulted in the immediate shutdown of dozens of accounts belonging to copyright infringers, many of whom have been exploiting legitimate platforms for years to sell counterfeit material worldwide,” said Mike Ellis, President and Managing Director, MPA Asia Pacific.  “We also commend PayPal for taking decisive action against these illegal activities on its global payment platform. Through this operation, PayPal has once again shown itself to be a consistent and reliable partner in the fight against copyright theft.”

PayPal prohibits the sale of items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary rights under the laws of any jurisdiction as part of its acceptable use policy. PayPal’s acceptable use policy is found at

PayPal’s Brand Risk Management team regularly works with merchants to improve their compliance controls to actively detect and take down violations as part of a robust anti-counterfeit program which also includes a policy and process for rights owners to submit infringement claims.  Rights owners are provided with an email address or PDF form to report their findings. They can access this information on the live site through

Outside of the infringement report process, any PayPal user who has a concern about counterfeit goods being sold is encouraged to report their findings to  The information is reviewed internally by PayPal’s operations team within 24 hours of being reported.

About the MPA

The Motion Picture Association (MPA) and Motion Picture Association International (MPA-I) represent the interests of major motion picture companies in the global marketplace. To do so, it promotes and protects its member companies’ intellectual property rights and conducts public awareness programs to highlight to movie fans around the world the importance of content protection. These activities have helped to transform entire markets benefiting film industries in each country including foreign and local filmmakers alike.

The organizations’ worldwide operations are directed from its headquarters in Los Angeles, California and overseen in the Asia Pacific by a team based in Singapore. Its member companies include: Paramount Pictures Corporation; Sony Pictures Entertainment Inc.; Twentieth Century Fox Film Corporation; Universal City Studios LLLP; Walt Disney Studios Motion Pictures; and Warner Bros. Entertainment Inc. For more information about the MPA, please visit

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send payments without sharing financial information, with the flexibility to pay using their account balances, bank accounts (where available), debit cards and credit cards in various markets. PayPal is an eBay company and enables global e-commerce with more than 94 million active accounts in 190 markets and 25 currencies around the world. The company’s open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

For more information, contact:

Siti Rohdiah
MPA Asia-Pacific
Dickson Seow
PayPal Asia Pacific
Tel: +65-6510-6463
Idran Junadi
The Hoffman Agency
Tel: +65-6238-1851



Written by asiafreshnews

June 23, 2011 at 11:13 am

RS Components Is First to Implement Country Specific Online Weblinks with ROHM to Accelerate “Find and Buy” Experience

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2011-06-21 10:00
Over 2000 semiconductors ready to buy in a single click direct from ROHM site

SINGAPORE, June 21, 2011 /PRNewswire-Asia/ –RS Components (RS) the world’s largest high service distributor of electronics and maintenance products and the trading brand of Electrocomponents plc (LSE:ECM), has partnered with ROHM Semiconductor so that visitors to the ROHM site can access “buy-it-now” links from the manufacturers’ inventory page to the relevant page on their local RS web site with a single mouse click. RS is the only distributor to which ROHM links directly in this way. Customers do not have to navigate through additional routing pages but are automatically linked to their local site. The service operates across 21 RS web sites in Asia and Europe and gives instant access to over 2,000 semiconductor products.

Fred Knowles, Head of Product Management, Electronics at RS Components stated, “This initiative gives customers the fastest way to find and buy ROHM semiconductors. It’s another step in the RS strategy of ensuring we are always the easiest distributor for customers for do business with.”

RS stocks power management ICs, transistors and diodes, optoelectronic devices, multimedia processors, data converters, amplifiers and comparators, interface ICs, and sensors and transducers from ROHM Semiconductor.

About RS Components

RS Components is the world’s largest distributor of electronics and maintenance products serving 1.6 million customers worldwide. Through operations in 32 countries and 17 warehouses, the Group distributes 550,000 products ranging from semiconductors and optoelectronics to power tools and protective clothing. The product and service portfolio supports the entire product lifecycle from R&D through pre-production to maintenance and repair, shipping more than 40,000 parcels on the same day the orders are received.

RS Components and Allied Electronics are the trading brands of Electrocomponents plc. The Group is listed on the London Stock Exchange and in the last financial year to 31 March 2011 had revenues of £1.18bn. For more information, please visit the website at

ABOUT ROHM SEMICONDUCTOR ROHM develops products that improve the efficiency and performance of electronic devices, maintaining its reputation as a world-class semiconductor manufacturer. ROHM’s advanced product development capabilities meet the needs of customers while increasing its line up of highly reliable, sophisticated products. These products are used in a variety of sectors: automotive, consumer, mobile phone, computer and office equipment, white goods/industrial, communications systems, and controls, test and medical. ROHM is involved in the development and manufacture of a whole host of electronic products, from standard parts to the most advanced components utilizing cutting-edge, original technologies, making the company the unseen force behind many consumer electronics devices. More information is available


RS Components
Petrina Seah
External Communications Manager – Asia Pacific
Tel: +65-6391-5719
SOURCE RS Components

Written by asiafreshnews

June 23, 2011 at 10:05 am

Posted in Uncategorized