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The First World Halal Summit: Developing Education and Training in Halal Industry

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KUALA LUMPUR, Malaysia, May 5, 2015 /PRNewswire/ — The inaugural World Halal Summit (WHS 2015), an amalgamation of one international exposition and six conferences, held its first Academics Forum session on April 1 with an exciting discussion on Halal education as it currently stands, plus what can be done to develop a curriculum that will prepare students for employability and for the business world.
The panellists during the Academics Forum on the topic Curriculum Development in the Halal Marketplace – Are we doing enough? From Left: Marco Tieman, Adjunct Professor at University Tun Abdul Razak; Prof Dr. Faridah Hassan, Director, iHalal Management and Science, UiTM; Prof. Pervaiz Ahmed, Director of Halal Ecosystem, Monash University; and Dr. Jonathan (Bilal) A.J. Wilson, University of Greenwich
The panellists during the Academics Forum on the topic Curriculum Development in the Halal Marketplace – Are we doing enough? From Left: Marco Tieman, Adjunct Professor at University Tun Abdul Razak; Prof Dr. Faridah Hassan, Director, iHalal Management and Science, UiTM; Prof. Pervaiz Ahmed, Director of Halal Ecosystem, Monash University; and Dr. Jonathan (Bilal) A.J. Wilson, University of Greenwich

Though there are hundreds of institutions worldwide where one can obtain a professional qualification in Islamic Banking and Finance, currently there is comparatively little curriculum offered on the trillion-dollar Halal food sector.

Moderator of the session, Dr. Jonathan (Bilal) A.J. Wilson, Postgraduate Marketing Suite Programme Director, University of Greenwich, London, UK, revealed that during his own research, there was an absence of Halal curriculum when compared to the amount of knowledge in this area and its current growth and expansion. In addressing this issue, he invited panellists to canvass what could be possible barriers to developing curriculum in this area as well as what should go into the courses if there are any designed from scratch.

One of the panellists, Dr. Marco Tieman, Adjunct Professor with Universiti Tun Abdul Razak revealed that the University incorporates Halal components into existing subjects. Dr. Tieman suggested including lectures on Halal matters into existing courses as a way to fill the gap in Halal education as this would be more effective and quicker than designing a unique Halal course from scratch.

Prof. Dr. Pervaiz Ahmed, Director of Halal Ecosystem, Monash University, Malaysia also shared his observation that for Islamic Finance courses, there can be more non-Muslim students than that of Muslims. “They are interested in knowing what the Islamic space is all about whereas the Muslim students think they know everything,” he said.

With current focus on the Islamic world and Halal education not limited to just Muslims, all panellists agreed that Halal education and its curricula could be designed for both Muslims and non-Muslims alike.

As Halal research, education and training continue to be the most fertile areas of growth, educational institutions and the faculties themselves are aware that they can advance this area and do more to tap into its potential.

“There are local Malaysian institutions that offer degrees with Halal specialties, such as Universiti Teknologi MARA (UiTM) and Universiti Malaysia Pahang. Those who are interested also have the option to pursue short courses before moving onto intermediate and advanced programmes,” said Prof. Dr. Faridah Hassan, Director of iHalal Management and Science, UiTM, Malaysia.

It was agreed that a Halal curriculum has the potential to groom students to be more employable and enter a wider range of career fields upon completion. Not just limited to food sciences, courses can be cross-disciplinary to include liberal arts, philosophy, science, IT, marketing, psychology, education, auditing and much more. Dr. Jonathan qualified this by saying that the curricula have to be cross-disciplinary that encourages healthy debate while celebrating the beauty of Islam.

As there are still these gaps in tertiary and professional qualification levels, it has been agreed during this session of the recently held WHS 2015 Academics Forum that there is much more room for Halal education to grow.

Held from March 30 to April 4, 2015 at the Kuala Lumpur Convention Centre, Malaysia, the World Halal Summit (WHS) 2015 was hosted by the Ministry of International Trade and Industry Malaysia (MITI), and jointly organised by the Department of Islamic Development Malaysia (JAKIM), Malaysia External Trade Development Corporation (MATRADE) and Halal Industry Development Corporation (HDC).

This inaugural event was supported by the Ministry of Tourism and Culture Malaysia and Malaysia Convention and Exhibition Bureau (MyCEB). The International Islamic University of Malaysia (IIUM), Universiti Teknologi MARA (UiTM), Zilzar.com and Maybank Islamic were WHS 2015’s Strategic Partners. With MasterCard as the Strategic Payment Partner, and Malaysia Airlines as the Official Airline, WHS 2015 was co-organised and managed by Shapers Malaysia Sdn Bhd – the founder of the Malaysia International Halal Showcase (MIHAS), Halal Fiesta Malaysia (HALFEST) and now the World Halal Summit.

Contact:

Redza Abdullah
Communications & PR
WHS Secretariat
Tel: +603 6203 4433
Mobile: +6019 2736 969
Email: redza@halal.org.my

Photo – http://photos.prnasia.com/prnh/20150429/8521502645
Source: World Halal Summit

Written by asiafreshnews

May 6, 2015 at 7:49 pm

Posted in Uncategorized

The Need for Specialist Halal Sector Scholars and the Islamic Perspective on Food Commodity Speculation

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KUALA LUMPUR, Malaysia, May 5, 2015 /PRNewswire/ — The Islamic Finance industry has produced specialist scholars with unique knowledge of the intricate workings of the finance industry, and the specific Syariah rulings that are applicable to banking and financial transactions.
The panelists during the Scholars Forum discussing the need for specialist Halal sector scholars. From Left: Moulana Navlakhi, Theological Director of SANHA; Dr. Ayoub Kazim, Managing Director, Education Cluster TECOM Business Parks; Daud Vicary, President of INCIEF; Rizvan Khalid, Director of Euro Quality Lambs; and Judge Hafez Abu Bakr Mahomed, Vice President of Islamic Council of South Africa.
The panelists during the Scholars Forum discussing the need for specialist Halal sector scholars. From Left: Moulana Navlakhi, Theological Director of SANHA; Dr. Ayoub Kazim, Managing Director, Education Cluster TECOM Business Parks; Daud Vicary, President of INCIEF; Rizvan Khalid, Director of Euro Quality Lambs; and Judge Hafez Abu Bakr Mahomed, Vice President of Islamic Council of South Africa.

In the third session of the Scholars Forum at the recently held World Halal Summit (WHS) 2015, Judge Hafiz Mahomed, Vice President of the Islamic Council of South Africa stated that the main issue today is that there are very few specialist scholars with the equivalent levels of knowledge and training in the Halal sector.

Daud Vicary, President of INCEIF (International Centre for Education in Islamic Finance) in Malaysia, encouraged Muslim scholars to continue their professional training and expand their expertise in order to fully understand and experience the economy, especially for banking and legal systems, to ensure that professional standards are being applied within the Halal industry.

In the same session, Dr. Ayoub Kazim, Managing Director of Education Cluster of TECOM Business Parks of the United Arab Emirates (UAE) called for the industry to give due attention to Halal’s related sub-sectors. Not solely focusing on the food and beverage industry, Halal support sectors such as ICT, transportation, logistics, tourism and hospitality must also be given more attention.

Dr. Ayoub in making the call suggested, “Tripartite partnership cooperation, consisting of academia, industry and the government as role players, is definitely needed to strategise and spur the growth of the Islamic economy.”

In this session, it was also brought up that fatwas (judgments/ rulings) relating to the Halal industry are also few and far in between. The session closed with a suggestion that professional education and training can gradually unify Muslim scholars, possibly resulting in the concentration of Halal-related fatwas within one central repository.

The fourth session began in earnest in the afternoon of the second day of WHS 2015, with its moderator, Abdalhamid Evans, Founder of Halal Focus and WHS Conference Director, lambasting the lack of concern and coverage on food commodity speculation. According to Abdalhamid, there has been zero opinion raised from the Muslim world on this topic until today; food commodity speculation has undoubtedly caused extreme hardships, leading nations to starvation and even deaths.

Food commodity speculation is also a disturbing prevalent issue within the Halal market; especially considering that not all of the money raised from the food market is channelled back to the food supply chain. Instead, they are re-invested in other businesses with little or no economic value or impact to the Halal market.

“There is a need for Islamic commodity exchange by implementing Halal producing, Halal trading and Halal financing methods,” suggested Daud Vicary. “This is where Islamic finance comes in – by setting certain standards to go into the real economic industry and prevent speculators to play with the prices.”

“The world is filled with materialists,” said Prof. Dr. Saim Kayadibi, Chairman of the European Union Halal Standards Committee (CEN). “Humanity must be aware and understand the destructive path that food commodity speculation leads and the inequalities of food distribution that follows,” he said.

Held from 30th March to 4th April 2015 at the Kuala Lumpur Convention Centre, Malaysia, the World Halal Summit (WHS) 2015 was hosted by the Ministry of International Trade and Industry Malaysia (MITI), and jointly organised by the Department of Islamic Development Malaysia (JAKIM), Malaysia External Trade Development Corporation (MATRADE) and Halal Industry Development Corporation (HDC). This inaugural event was supported by the Ministry of Tourism and Culture Malaysia and Malaysia Convention and Exhibition Bureau (MyCEB). The International Islamic University of Malaysia (IIUM), Universiti Teknologi MARA (UiTM), Zilzar.com and Maybank Islamic were WHS 2015’s Strategic Partners. With MasterCard as the Strategic Payment Partner, and Malaysia Airlines as the Official Airline, WHS 2015 was co-organised and managed by Shapers Malaysia Sdn Bhd – the founder of the Malaysia International Halal Showcase (MIHAS), Halal Fiesta Malaysia (HALFEST) and now the World Halal Summit.

Issued by:

Redza Abdullah
Communications & PR
WHS Secretariat
Tel: +603 6203 4433
Mobile: +6019 2736 969
Email: redza@halal.org.my

Photo – http://photos.prnasia.com/prnh/20150429/8521502664
Source: World Halal Summit

Written by asiafreshnews

May 6, 2015 at 7:39 pm

Posted in Uncategorized

Patent professionals see 2015 growth in licensing revenues according to LES France and Thomson Reuters study

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— French innovation study shows senior intellectual property professionals look for new partnerships to increase revenue

PARIS /PRNewswire/ — Licensing Executives Society France (LES France), an association of professionals who have an interest in technology transfer or licensing intellectual property (IP) rights, and theIntellectual Property & Science business of Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today released findings from a joint study revealing the state of IP licensing practices in France. This market accounted for 10.8 billion Euros in reported revenues in France in 2013[1].

The study’s results feature trends, practices and motivations behind IP licensing, as reported by senior IP professionals across the country.

Key findings of the study include:

  • Positive outlook for licensing revenues: Licensing revenues will remain stable or grow in 2015 according to 68% of respondents.
  • Licensing supports research and development: Across all industries of those surveyed, 91% of respondents cited forging partnerships as a principal reason for conducting licensing as well as supporting research and development (89%), and increasing revenue for organizations (79%).
  • Unified Patent Court: 74% of respondents believe the proposed Unified Patent Court is favorable to patent holders. It is believed that a Unified Patent Court will facilitate the enforcement of licensing programs acrossEurope.
  • Patent trolls not prevalent in French market: Overall, 80% of all respondents indicated that the activity of Non-Practicing Entities (NPE) had not affected their organizations. Those interviewed indicate that the sum of damages that can be obtained in France are not as lucrative as in the United States.
  • Digital technology impacting innovation across industries beyond hi-tech: The dissemination of Information and Communication Technologies (ICT) to new industries brings challenges and a convergence of licensing practices. There has been double digit growth (16%) in high-tech ICT patent filings in industries such as pharmaceutical, food, and cosmetics in the last 10 years.

“Thomson Reuters is proud to collaborate with LES France for this important piece of research,” said Stuart Recher, vice president, IP Services at Thomson Reuters. “The commercialization of intellectual property offers new revenue streams and paths to market for innovative companies. We hope this study provides deeper insight into the challenges licensing professionals face and enables the development of licensing practices in Franceand around the world.”

To read the full report, visit: http://ip-science.interest.thomsonreuters.com/IPLicencingFrance

Methodology

The methodology of this study is based on an online questionnaire sent to 600 licensing professionals, telephone interviews with senior IP professionals in French, and an analysis of patent literature found in Thomson Reuters Derwent World Patents Index (DWPI).

About Licensing Executives Society France

LES France is a member of Licensing Executives Society International, a global network of more than 9,000 members covering 65 countries. The association brings together professionals in intellectual property and valuation (licensing and technology transfer). Established in 1970, LES France develops its activities with community members operating in France, and has about 600 members.

About Thomson Reuters

Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world’s most trusted news organization. For more information, go to www.thomsonreuters.com.

[1] Charges for the use of IP are payments and receipts between residents and non residents for the authorized use of proprietary rights (such as patents, trademarks, copyrights, industrial processes and designs including trade secrets, and franchises), through licensing agreements, WorldBank.org [accessed 14 April 2015].

Source: Thomson Reuters

Written by asiafreshnews

May 6, 2015 at 7:04 pm

Posted in Uncategorized

Microsoft Announces New Solutions To Empower IT Professionals

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New Windows 10 management tools help IT professionals deliver updates and features to employees.

CHICAGO, May 4, 2015 /PRNewswire/ — Monday at its first-ever Ignite Conference, Microsoft Corp. announced a range of new products and services that help IT professionals lead their companies in the new era of enterprise computing, including the next generation of Windows management, Microsoft Office, hybrid cloud infrastructure and SQL Server.

Logo – http://photos.prnewswire.com/prnh/20000822/MSFTLOGO

“No business can succeed and scale without IT innovating and transforming,” said Satya Nadella, CEO of Microsoft. “Empowering IT professionals is a key part of Microsoft’s technology agenda spanning Windows 10, Office 365, Azure and other cloud technologies.”

Brad Anderson’s Official Microsoft Blog post about the company’s focus on IT professionals can be found here.

Speaking to more than 23,000 conference attendees, as well as thousands of online viewers, Nadella showcased how Microsoft is fueling IT pro innovation and success. He was joined on stage by Jose Angel Sanchez, CEO of Real Madrid C.F., winner of the 2014 FIFA Club World Cup and the FIFA Best Club of the 20th Century.

“Real Madrid is a club with a great tradition of winning, and our partnership with Microsoft for digital transformation will help us win both on and off the field,” Sanchez said. “The Microsoft cloud and its entire product portfolio is helping us change into a truly data-driven organization and to provide 450 million fans around the globe with exclusive, personalized content and services — before, during and after matches.”

Today’s announcements address multiple challenges and opportunities for IT professionals:

More personal computing

  • Windows Update for Business, introduced today, is a new management option for Windows 10 to always keep devices up to date with the latest security updates and Windows features. The new solution will help reduce management costs, provide control over update deployment, offer faster access to security updates and critical fixes, and deliver the latest innovation from Microsoft on an ongoing basis. The Windows Store for Business offers additional manageability, enabling company decision-makers to acquire trusted software or content for entire teams and companies.
  • System Center Configuration Manager for managing Windows 10, available today in technical preview, gives IT professionals expanded tools to deploy, update, manage and secure Windows 10, and will integrate with Windows Update for Business. In addition, next week, Microsoft will release service packs for existing Configuration Manager 2012 and 2012 R2 customers, as well as an update to Microsoft Intune for Windows 10 support.

Reinventing productivity

  • Office 2016, available in broad public preview today, brings in-app, real-time co-authoring to the rich Office desktop applications used by over 1 billion people worldwide. Real-time presence and the ability to see changes to text and formatting as they happen will help co-workers and teams stay on the same page as they create content.
  • Skype for Business broadcasting, introduced today, enables customers to broadcast meetings to up to 10,000 people. The service uses Azure Media Services for streaming audio, video and PowerPoint presentations, and offers built-in interoperability with Bing Pulse for sentiment tracking and Yammer for audience conversations. Extensibility enables third parties to add audience polling, formal Q&A and other functionality.
  • Organizational analytics in Office Delve, introduced and demonstrated today, is powered by the Office Graph, expanding upon personalized insights from Office Delve to provide organizational insights to individuals and teams from Office 365 data. A rich dashboard measures, tracks and identifies key trends such as engagement, reach and work-life balance across individuals’ interactions within their organization and with external teams.
  • SharePoint Server 2016, showcased today and in preview later this year, will deliver enhancements and new capabilities across new user experiences, compliance and reporting. The new version gives on-premises SharePoint customers access to new capabilities in the cloud through hybrid deployments with Office 365.
  • Exchange Server 2016, also demonstrated at Ignite and in preview later this year, delivers new features first delivered in Office 365, such as a new approach to document collaboration, faster and more intelligent search, improved eDiscovery, and developer extensibility for mail, calendar and contacts.

Intelligent cloud

  • Next-generation hybrid cloud. Introduced today and in preview this summer, Microsoft Azure Stack brings the Azure user experience and both infrastructure and platform-as-a-service capabilities into customers’ datacenters. With Azure Stack IT teams can easily blend enterprise applications with modern, distributed applications and services while maintaining centralized oversight. Built on the same core technology as Azure, Azure Stack extends Microsoft’s investments in secure, more flexible software-defined infrastructure. The next preview of Windows Server 2016 is available today, providing a premium platform for enterprise and cloud applications, with technologies such as Nano Server, a lightweight installation option. Available today, Microsoft Operations Management Suite (OMS) is a cloud-based solution that extends System Center capabilities for management across almost any hybrid cloud, including Azure, third-party clouds such as Amazon Web Services, Windows Server, Linux, VMware or OpenStack. OMS extends System Center 2016, which is also available in preview this week.
  • SQL Server 2016, in preview this summer, takes a major leap forward with a database and analytics platform that provides breakthrough performance for mission-critical applications and deeper insights on any data across on-premises and cloud. Key capabilities include enhanced in-memory technologies with real-time operational analytics, new security and encryption technologies, built-in advanced analytics with the R language, and mobile BI for on-premises data. The new Stretch Database capability is an industry first that allows for cost-effective access to historical data by dynamically stretching data to Microsoft Azure.
  • Microsoft Advanced Threat Analytics (ATA), technology based on the recent acquisition of Aorato, is available in preview. ATA helps IT security professionals identify security breaches and threats, using behavioral analysis and machine learning to provide clear, actionable information.
  • Office 365 transparency and control enhancements, highlighted at Ignite, give customers enhanced visibility and security of their data residing within Office 365, including Customer Lockbox that provides customers with explicit approval rights for Microsoft interaction with their data. Office 365 is the only productivity service to provide this level of customer control.

More information and news from Ignite, such as a news fact sheet, keynote presentations, links to product blog posts and partner announcements, can be found at the Microsoft News Center.

Readers can also follow and engage with the Microsoft Twitter community at @MSFTNews and @MS_Ignite using #MSIgnite.

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services, devices and solutions that help people and businesses realize their full potential.

Source: Microsoft Corp.

Related stocks: NASDAQ-NMS:MSFT

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Written by asiafreshnews

May 6, 2015 at 6:35 pm

Posted in Uncategorized

GlobalLogic Hires Veteran Executive Mark Kizzar to Lead New Business Unit

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— Seasoned Executive Will Lead GlobalLogic’s New Media & Commerce BU

SAN JOSE, California /PRNewswire/ — GlobalLogic today announced that veteran executive and consultant Mark Kizzar has joined the company as head of their new media and commerce business unit. Kizzar will help GlobalLogic clients transform their legacy businesses into digital companies.

Logo – http://photos.prnewswire.com/prnh/20150402/196431LOGO

Kizzar’s appointment demonstrates GlobalLogic’s focus on the growing media and commerce markets, which are becoming major adopters of cutting-edge technology solutions.

With close to 30 years in the sales and technologies fields, Kizzar brings extensive experience in manufacturing, technology, energy, industrial and life sciences to GlobalLogic. In his previous role as Accenture’s Managing Director for Orange County CA, Kizzar was part of a practice that grew from $5M to more than $150M in sales in two years. Prior to Accenture he was vice president of sales at HP Enterprise Services.

“Mark is a leader who can inspire our clients that desire a better grasp of the digital market,” said Chief Revenue Officer, Rajesh Radhakrishnan. “He gives us the necessary leadership and experience to expand and anchor our presence in a new market that is growing enormously.”

Kizzar will report directly to Radhakrishnan.

“I’m excited for the opportunity to work on expanding GlobalLogic’s footprint into these fast growing new markets,” said Kizzar. “GlobalLogic will do extremely well in media and commerce and I look forward to helping GlobalLogic grow.”

Kizzar earned a BS in math and physics from Ouachita Baptist University, graduated from EDS’ Systems Engineering School and has a Certificate in Strategy Value Creation from the London Business School.

As a leader in software R&D services, GlobalLogic is focused on product development innovation. GlobalLogic leverages its global experience and expertise in design and engineering to build partnerships with market-defining businesses and technology leaders who want to make amazing products, discover new revenue opportunities and accelerate time to market.

About GlobalLogic

GlobalLogic is a full-lifecycle product development services leader that combines deep domain expertise and cross-industry experience to connect makers with markets worldwide. Using insight gained from working on innovative products and disruptive technologies, we collaborate with customers to show them how strategic research and development can become a tool for managing their future. Headquartered in the United States, GlobalLogic operates design and engineering centers around the world, extending the benefits of its authentic global presence to customers in digital media, electronics, healthcare, infrastructure, finance, retail, and telecom industries. The company works with both start-ups and industry leaders, including many of the world’s top hardware, software, and consumer brands.

GlobalLogic is a trademark of GlobalLogic. All other brands, products or service names are or may be trademarks or service marks of their respective owners.

Source: GlobalLogic

Written by asiafreshnews

May 6, 2015 at 6:19 pm

Posted in Uncategorized

ComplyGlobal(TM) Raises An Additional $2.5M to Fuel Its Global Expansion and Customer Success

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NEW YORK/PRNewswire/ — ComplyGlobal, the startup that is revolutionizing the way global organizations manage their complex compliance requirements through the cloud, announced a $2.5M round of funding today.

ComplyGlobal(TM) raises an additional $2.5M to fuel its global expansion and customer success
ComplyGlobal(TM) raises an additional $2.5M to fuel its global expansion and customer success

While ComplyGlobal received the additional funding in February, it has not been made public until now. The funding is led by existing investor IBCC, a Boston based venture capital fund and new investor group Tribeca Angels out of New York.

The funding will accelerate the company’s growth initiatives and extend the company’s compliance content, product offering, customer base, partner program, and geographic reach. Prior to this round of capital, ComplyGlobal raised $1.3M in seed funding.

“We are excited by the positive adoption of ComplyGlobal by global corporations. We believe that this additional capital will certainly help the company grow more rapidly” said Sundar Subramaniam, Chairman of IBCC.

ComplyGlobal™ provides real-time visibility and greater transparency to finance and compliance professionals, enabling them to track the organization’s Corporate Secretarial, Tax, Financial and HR compliance requirements, ultimately saving them costly time and budgetary dollars.

“With stricter and ever-changing compliance laws impacting a multinational organization, there is an excessive increase of penalties, non-compliance fines and reputational risk. Current solutions and programs are manual, time-intensive, fragmented and most importantly reactive.  This additional funding is a great vote of confidence in ComplyGlobal’s vision of bringing about a paradigm shift in the way compliance can be managed effectively using a SaaS platform”, said Kishore Mirchandani, Chairman & CEO of ComplyGlobal.

With its proprietary algorithm and continually updated compliance library, ComplyGlobal provides all of the information an organization needs to comply with seamlessly integrated in one location.

“Tribeca Angels was pleased to participate in ComplyGlobal’s latest funding round.  For all companies, managing their global compliance issues is gaining in complexity, and the costs of delinquent or forgotten compliance obligations can be crippling. We see ComplyGlobal delivering a robust, yet simple and cost effective, technology solution to help all companies avoid these pitfalls”, said John McEvoy, Managing Partner, Tribeca Angels.

ComplyGlobal™ is founded by a team of highly experienced technology and compliance professionals and has offices inSingapore, New York, London, and Bangalore.

Visit www.complyglobal.com to learn more.

For additional information, contactinfo@complyglobal.com

Logo –http://photos.prnasia.com/prnh/20150505/8521502859LOGO

Source: ComplyGlobal

Written by asiafreshnews

May 6, 2015 at 6:05 pm

Posted in Uncategorized

New Study Sheds Light on Trends and Directions for 20 Different Types of Electronic Components

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CARY, North Carolina /PRNewswire/ — The collective lead time index for passive electronic components had been in a volatile state on a month-to-month basis but has been consistently improving since May of 2014- a trend which has continued into May of 2015. The lead-time index, which shows the average time in weeks that it takes for a passive electronic component manufacturer to deliver an ordered part to a customer, is extremely sensitive and responds to various external stimuli that are sometimes natural but usually manmade. For all of 2012 and the balance of 2013 the lead-time index has expressed an anemic trend of relative inactivity. In the second half of 2014 and the first half of 2015 it is apparent that unit demand for capacitors, resistors and inductors has been steadily increasing to satisfy demand coming from smartphone, tablet, automotive under-the-hood, commercial aerospace, medical implant and specialty industrial customers, however, the weakened yen, won and NT$ to the US dollar is creating excessive price erosion in all world regions where vendors compete, thus creating almost no growth when measured globally. With a wary eye toward the Internet of Everything, 3D-printing and space electronics, many component manufacturers are now transitioning toward value-added and applications specific end-use market segments that require added tooling and captive intellect encompassing a granular understanding of high voltage, high frequency and harsh environment end-use markets, technologies and opportunities with an eye to the future and a five year growth plan for success. This and much more in the new market research report from Paumanok Publications, Inc. entitled “Passive Electronic Components: World Market Outlook: 2015-2020 ISBN #1-893211-99-1 (2015)” that tracks the global market for 20 different types of passive electronic component on a global basis with forecasts to 2020. Now in its 27th year.

Photo – http://photos.prnewswire.com/prnh/20150505/213834-INFO

Keywords: Ceramic Capacitors, tantalum capacitors, aluminum electrolytic capacitors, AC plastic film capacitors; DC plastic film capacitors, EDLC supercapacitors, niobium capacitors; chip resistors, resistor networks, resistor arrays, nichrome resistors, carbon film resistors, tin-oxide resistors, thin film resistors; ferrite beads, ferrite bead arrays, axial and radial molded micro inductors, ferrite cores, integrated passive devices.

https://www.paumanokgroup.com/homepage/passive-electronic-components-world-market-outlook-2015-2020-isbn-1-893211-99-1-2015.html

Source: Paumanok Publications, Inc.

Written by asiafreshnews

May 6, 2015 at 5:56 pm

Posted in Uncategorized

AMRI Announces First Quarter 2015 Results

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ALBANY, New York/PRNewswire/ — AMRI (NASDAQ: AMRI) today reported financial and operating results for the first quarter ended March 31, 2015.

Highlights:

  • First quarter contract revenue of $75.1 million, up 47% from 2014
  • First quarter royalties of $6.7 million, down 19% from 2014
  • First quarter adjusted diluted EPS of $0.20 up 25% from $0.16 in 2014, including a $0.03 decrease in EPS from royalties in the current quarter
  • Completed the acquisitions of SSCI/West Lafayette, Ind. and Glasgow UK businesses, broadening our capabilities in analytical and drug product development services
  • Announced closure of Holywell, UK API manufacturing site; transitioning activities to other sites within AMRI
  • AMRI confirms 2015 financial guidance

“We are very pleased with our results this quarter, highlighted by strong growth in our Drug Product business as a result of the acquisitions of OsoBio and our Glasgow UK facility, and solid year-over-year growth in our API business,” said William S. Marth, AMRI’s president and chief executive officer. “Importantly, contract margins continue to expand across our entire operations as result of the addition of the new businesses, our cost reduction initiatives and further efficiency efforts across our business. We remain confident that these trends will continue through the year and are maintaining our outlook for 2015, which includes full year revenue growth of 40% and adjusted diluted EPS growth of 35% at the midpoint.”

First Quarter 2015 Results

Total revenue for the first quarter of 2015 was $81.8 million, an increase of 38% compared to total revenue of$59.3 million reported in the first quarter of 2014.

Total contract revenue for the first quarter of 2015 was $75.1 million, an increase of 47% compared to total contract revenue of $51.0 million reported in the first quarter of 2014. Adjusted contract margins were 23% for the first quarter of 2015, compared with 18% for the first quarter of 2014, driven by the growth of the Drug Product business, increased capacity utilization, and the benefit of cost reduction initiatives and facility optimization. Adjusted contract margins exclude purchase accounting depreciation and amortization that is included under U.S. GAAP. For a reconciliation of U.S. GAAP contract margins as reported to adjusted contract margins for the 2015 and 2014 reporting periods, please see Table 1 at the end of press release.

Royalty revenue in the first quarter of 2015 was $6.7 million, a decrease of 19% from $8.3 million in the first quarter of 2014 due primarily to lower royalties on Allegra (fexofenadine) products. Royalty revenue for the first quarter of 2015 includes $3.8 million of royalties from the fexofenadine products and $2.9 million from the net sales of certain amphetamine salts sold by Actavis.

Net loss under U.S. GAAP was $(2.2) million, or $(0.07) per diluted share, in the first quarter of 2015, compared to U.S. GAAP net income of $3.5 million, or $0.11 per diluted share for the first quarter of 2014. Net income on an adjusted non-GAAP basis in the first quarter was $6.4 million or $0.20 per diluted share, compared to adjusted net income of $5.1 million or $0.16 per diluted share for 2014. During the first quarter 2015, the company recorded, among other items, $2.5 million of impairment and $1.3 million of restructuring charges related to the company’s plan to cease operations at its Holywell, UK facility.

Segment Results

Discovery and Development Services (DDS)

Three Months Ended

March 31,

(Unaudited; $ in thousands)

2015

2014

DDS Contract Revenue

$19,263

$18,990

Cost of Contract Revenue

14,756

15,627

Contract Gross Profit (1)

4,507

3,363

Contract Gross Margin

23%

18%

(1) A portion of the 2014 amounts were reclassified from DDS to API to better align business activities within our reporting segments. 

Discovery and Development Services (DDS) contract revenue for the first quarter of 2015 increased 1% to $19.3 million, compared to $19.0 million the first quarter of 2014, primarily due to an increase in discovery services revenue. DDS gross margins increased to 23% from 18% in the quarter, driven by the benefit of cost reduction initiatives and facility optimization.

Active Pharmaceutical Ingredients (API)

Three Months Ended

March 31,

(Unaudited; $ in thousands)

2015

2014

API Contract Revenue

$37,848

$29,760

Cost of Contract Revenue

28,583

23,245

Contract Gross Profit

9,265

6,515

Contract Gross Margin

24%

22%

Adjusted Contract Gross Profit (1) (2)

9,400

6,515

Adjusted Contract Gross Margin (1) (2)

25%

22%

(1) A portion of the 2014 amounts were reclassified from DDS to API to better align its business activities within our reporting segments. 

(2) Refer to Table 1 included in this release for the reconciliation of U.S. GAAP contract gross profit and contract gross margin to adjusted contract gross profit and adjusted contract gross margin as a percentage of contract revenue.

API contract revenue for the first quarter of 2015 increased 27% compared to the same period of 2014 due primarily an increase in API shipments to customers, and the addition of Cedarburg Pharmaceuticals. API adjusted contract margins for the first quarter of 2015 increased to 25% from 22% in the first quarter of 2014, due to the mix of business within the segment.

Drug Product Manufacturing

Three Months Ended

March 31,

(Unaudited; $ in thousands)

2015

2014

DPM Contract Revenue

$ 18,020

$   2,288

Cost of Contract Revenue

14,800

2,738

Contract Gross Profit

3,220

(450)

Contract Gross Margin

18%

(20%)

Adjusted Contract Gross Profit (Loss) (2)

3,367

(450)

Adjusted Contract Gross Margin (2)

19%

(20%)

(2) Refer to Table 1 included in this release for the reconciliation of U.S. GAAP contract gross loss and contract gross margin to adjusted contract gross profit (loss) and adjusted contract gross margin as a percentage of contract revenue.

Drug Product Manufacturing contract revenue for the first quarter of 2015 increased $15.7 million over the same period of 2014, reflecting the addition of Oso Biopharmaceuticals Manufacturing (OsoBio) acquired in July 2014and the Glasgow, UK-based injectable drug product formulation business acquired in January 2015. Drug Product adjusted contract margins for the first quarter of 2015 increased to 19% compared to (20%) in the same period of 2014, driven by the addition of the Glasgow and OsoBio businesses.

Liquidity and Capital Resources

At March 31, 2015, AMRI had cash, cash equivalents and restricted cash of $32.2 million, compared to $51.0 million at December 31, 2014. The decrease in cash and cash equivalents for the quarter ended March 31, 2015was primarily due to the use of $59.3 million to acquire the SSCI/West Lafayette, Ind. and Glasgow, UKbusinesses and $4.1 million used for capital expenditures, which were offset by $4.4 million in cash generated from operations and $39 million from borrowings on our long-term debt. Total common shares outstanding, net of treasury shares, were 33,104,229 at March 31, 2015.

Financial Outlook

AMRI’s outlook for 2015 is as follows:

  • Full year contract revenue is expected to be between $335 and $370 million, an increase of 40% at the midpoint, including
    • DDS revenue of approximately $98 million
    • API revenue of approximately $162 million
    • Drug Product revenue of approximately $92 million
  • Adjusted contract margins of approximately 25%
  • Royalty revenue of between $13 and $14 million, including approximately $4 million of Allegra royalties, which expire fully in the third quarter 2015
  • Adjusted selling, general and administrative (SG&A) expenses at approximately 17% of contract revenue
  • Adjusted EBITDA between $59 and $65 million, up 34% at the midpoint
  • Adjusted diluted EPS is expected to be between $0.80 and $0.90, compared to $0.63 in 2014, based on an average fully diluted share count of approximately 33 million shares
  • Ratio of total revenue and adjusted diluted EPS in the first and second half of 2015 is expected to be 45% and 55%, respectively
  • Capital expenditures of between $24 and $26 million
  • Effective tax rate of approximately 33%

Beginning in the second quarter 2015, AMRI will implement an updated non-GAAP definition, which will include the impact of cash interest expense and exclude the impact of non-cash stock-based compensation, both of which had previously been excluded and included, respectively in the Company’s calculations of these non-GAAP financial measures. These changes will redefine non-GAAP cost of contract revenue, SG&A, interest expense, net income, and EBITDA financial measures from the existing non-GAAP definition. We believe these financial measures provide investors with appropriate non-GAAP measurements that emphasize the cash earnings potential of the business and better reflect the underlying financial performance of the business.

The updated non-GAAP definition does not impact AMRI’s 2015 financial outlook as previously disclosed. To ensure that operating results can be evaluated on a comparable basis, historic non-GAAP reported operating results will be adjusted to match this new definition. In conjunction with this change, AMRI will provide adjusted non-GAAP financial results in line with the updated non-GAAP definition for full year 2014. This supplemental document is available at the Investor Relations page of the company’s website at www.amriglobal.com. This change does not impact any prior period financial statements presented on a GAAP basis.

First Quarter Results Conference Call

AMRI will host a conference call and webcast today at 8:30 a.m. ET to discuss first quarter 2015 results. The conference call can be accessed by dialing (866) 208-5728 (domestic calls) or (224) 633-1279 (international calls) at 8:20 a.m. ET and entering passcode 30238095. The webcast and supplementing slides can be accessed on the company’s website at www.amriglobal.com.

A replay of the conference call can be accessed for 24 hours beginning at 11:30 a.m. ET at (855) 859-2056 (domestic calls) or (404) 537-3406 (international calls) and entering passcode 30238095. Replays of the webcast can also be accessed for up to 90 days after the call via the investor area of the company’s website athttp://ir.amriglobal.com.

About AMRI

Albany Molecular Research Inc. (AMRI) is a global contract research and manufacturing organization that has been working with the Life Sciences industry to improve patient outcomes and the quality of life for more than two decades. With locations in North America, Europe and Asia, our key business segments include Discovery and Development Solutions (DDS), Active Pharmaceutical Ingredients (API), and Drug Product Manufacturing. Our DDS segment provides comprehensive services from hit identification to IND, including expertise with diverse chemistry, library design and synthesis, in vitro biology and pharmacology, drug metabolism and pharmacokinetics, as well as natural products. API Manufacturing supports the chemical development and cGMP manufacture of complex API, including potent, controlled substances, biologics, peptides, steroids, and cytotoxic compounds. Drug Product Manufacturing supports development through commercial scale production of complex liquid-filled and lyophilized parenteral formulations. For more information about AMRI, please visit our website atwww.amriglobal.com or follow us on Twitter (@amriglobal).

Forward-looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include, but are not limited to, statements regarding the company’s estimates of revenue, contract revenue, adjusted EBITDA, adjusted diluted earnings per share, and all information and other statements regarding the estimates of results and financial outlook for 2015, statements made by the company’s Chief Executive Officer, statements under the caption “Financial Outlook,” statements regarding the strength of the company’s business and prospects, statements regarding the impact of recent acquisition activity, and statements concerning the company’s momentum and long-term growth, including expected results for 2015. Readers should not place undue reliance on our forward-looking statements. The company’s actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the company may not be able to predict and may not be within the company’s control. Factors that could cause such differences include, but are not limited to, trends in pharmaceutical and biotechnology companies’ outsourcing of manufacturing services and chemical research and development, including softness in these markets; sales of Allegra® and the impact of the “at-risk” launch of generic Allegra®, the rapid reduction in royalties on the Allegra products expected in 2015 and the patent expirations on such products, the OTC conversion of Allegra® and the generic and OTC sales of Allegra in Japanon the company’s receipt of significant royalties under the Allegra® license agreement; the success of the sales of other products for which the company receives royalties; the risk that the company will not be able to replicate either in the short or long term the revenue stream that has been derived from the royalties payable under the Allegra® license agreements; the risk that clients may terminate or reduce demand under any strategic or multi-year deal; the company’s ability to enforce its intellectual property and technology rights; the company’s ability to obtain financing sufficient to meet its business needs; the company’s ability to successfully comply with heightened FDA scrutiny on aseptic fill/finish operations; the results of further FDA inspections; the company’s ability to effectively maintain compliance with applicable FDA and DEA regulations; the company’s ability to integrate past or future acquisitions, including the Aptuit West Lafayette and Glasgow operations, Cedarburg Pharmaceuticals and Oso Biopharmaceuticals Manufacturing, and make such acquisitions accretive to the company’s business model, the company’s ability to take advantage of proprietary technology and expand the scientific tools available to it, the ability of the company’s strategic investments and acquisitions to perform as expected, as well as those risks discussed in the company’s Annual Report on Form 10-K for the year endedDecember 31, 2014 as filed with the Securities and Exchange Commission on March 16, 2015, and the company’s other SEC filings. Contract revenue, adjusted diluted EPS, adjusted SG&A, adjusted contract margin, adjusted EBITDA and other financial guidance offered by senior management today with respect to 2015 represent a point-in-time estimate and are based on information as of the date of this press release. Senior management has made numerous assumptions in providing this guidance which, while believed to be reasonable, may not prove to be accurate. Numerous factors, including those noted above, may cause actual results to differ materially from the guidance provided. The company expressly disclaims any current intention or obligation to update the guidance provided or any other forward-looking statement in this press release to reflect future events or changes in facts assumed for purposes of providing this guidance or otherwise affecting the forward-looking statements contained in this press release.

Non-GAAP Adjustment Items

To supplement our financial results prepared in accordance with U.S. GAAP, we have presented non-GAAP measures of contract gross profit, contract gross margin, income from operations, and net income and income per diluted share as adjusted to exclude certain impairment charges, restructuring charges, executive transition costs, debt interest and amortization charges, business acquisition costs, non-recurring legal costs, ERP implementation costs, depreciation and amortization of purchase accounting adjustments, non-recurring organizational costs, and postretirement benefit plan settlement gains in the 2015 and 2014 periods. We have also presented non-GAAP measures of adjusted EBITDA, which in addition to the items excluded above, further excluded the impact of interest income and expense, depreciation and amortization expense, and income tax expense or benefit. Exclusion of these non-recurring items allows comparisons of operating results that are consistent over time. We believe presentation of these non-GAAP measures enhances an overall understanding of our historical financial performance because we believe they are an indication of the performance of our base business. Management uses these non-GAAP measures as a basis for evaluating our financial performance as well as for budgeting and forecasting of future periods. For these reasons, we believe they can be useful to investors. The presentation of this additional information should not be considered in isolation or as a substitute for income (loss) from operations, net income (loss) or income (loss) per diluted share, prepared in accordance with U.S. GAAP. Reconciliations of these non-GAAP measures to the most directly comparable GAAP financial measures are set forth in Tables 1-3. Our projected 2015 adjusted EPS and adjusted EBITDA, however, are only provided on an adjusted basis. It is not feasible to provide GAAP EPS and EBITDA guidance because the items excluded are difficult to predict and estimate and are primarily dependent on future events.

Albany Molecular Research, Inc.

Selected Consolidated Balance Sheet Data

(unaudited)

March 31, 2015

December 31, 2014

(Dollars in thousands)

Cash and cash equivalents

$               28,515

$               46,995

Restricted cash

3,675

4,052

Accounts receivable, net

69,063

71,644

Royalty income receivable

6,779

5,061

Inventory

53,504

49,880

Total current assets

189,771

192,155

Property and equipment, net

176,997

164,332

Total assets

571,142

519,953

Total current liabilities

53,756

48,690

Long‒term debt, excluding current installments, net of unamortized discount

200,493

159,980

Total liabilities

329,267

278,131

Total stockholders’ equity

241,875

241,822

Total liabilities and stockholders’ equity

571,142

519,953

Albany Molecular Research, Inc.

Condensed Consolidated Statements of Operations (unaudited)

Three Months Ended

(Dollars in thousands, except for per share data)

March 31, 2015

March 31, 2014

Contract revenue

$     75,131

$     51,038

Recurring royalties

6,685

8,283

Total revenue

81,816

59,321

Cost of contract revenue

58,139

41,610

Technology incentive award

382

593

Research and development

490

79

Selling, general and administrative

17,474

10,629

Postretirement benefit plan settlement gain

(1,285)

Restructuring charges

1,487

230

Impairment charges

2,615

Total operating expenses

80,587

51,856

Income from operations

1,229

7,465

Interest expense, net

(3,036)

(2,616)

Other income (expense), net

469

(40)

(Loss) income before income taxes

(1,338)

4,809

Income tax expense

885

1,309

Net (loss) income

$     (2,223)

$      3,500

Basic (loss) earnings per share

$       (0.07)

$        0.11

Diluted (loss) earnings per share

$        (0.07)

$        0.11

Table 1: Reconciliation of three months ended March 31, 2015 and 2014 reported contract gross profit (loss) and contract gross margin to adjusted contract gross profit (loss) and adjusted contract gross margin

Non-GAAP Measures

Three Months Ended

(Dollars in thousands)

March 31,

2015

2014

Consolidated Contract Revenue, as reported

$75,131

$51,038

Consolidated Cost of Contract Revenue, as reported

58,139

41,610

Consolidated Contract Gross Profit, as reported

16,992

9,428

add: Purchase accounting depreciation

282

Consolidated Contract Gross Profit, as adjusted

$17,274

$  9,428

Consolidated Contract Gross Margin, as reported

23%

18%

Consolidated Contract Gross Margin, as adjusted

23%

18%

API Segment Contract Revenue, as reported

$37,848

$29,760

API Segment Cost of Contract Revenue, as reported

28,583

23,245

API Segment Contract Gross Profit, as reported

9,265

6,515

add: Purchase accounting depreciation

135

API Segment Contract Gross Profit, as adjusted

$  9,400

$  6,515

API Segment Contract Gross Margin, as reported

24%

22%

API Segment Contract Gross Margin, as adjusted

25%

22%

Drug Product Segment Contract Revenue, as reported

$18,020

$  2,288

Drug Product Segment Cost of Contract Revenue, as reported

14,800

2,738

Drug Product Segment Contract Gross Loss, as reported

3,220

(450)

add: Purchase accounting depreciation

147

Drug Product Segment Contract Gross Profit (Loss), as adjusted

$  3,367

$   (450)

Drug Product Segment Contract Margin, as reported

18%

(20)%

Drug Product Segment Contract Margin, as adjusted

19%

(20)%

Table 2: Reconciliation of the three months ended March 31, 2015 and 2014 reported income from operations, net income and earnings per diluted share to adjusted income from operations, adjusted net income and adjusted diluted earnings per share:

First Quarter

First Quarter

(Dollars in thousands, except for per share data)
Non-GAAP Measures

2015

2014

Income from operations, as reported

$                1,229

$                7,465

Impairment charges

2,615

Restructuring charges

1,487

230

Executive transition costs

1,325

640

Business acquisition costs

1,090

322

Purchase accounting depreciation and amortization

1,003

Postretirement benefit plan settlement gain

(1,285)

ERP Implementation costs

204

Non-recurring professional fees

617

Income from operations, as adjusted

$                9,570

$                   7,372

Net income, as reported

$              (2,223)

$                   3,500

Adjustments, net of tax:

Impairment charges

2,592

Restructuring charges

1,415

197

Executive transition costs

862

416

Business acquisition costs

709

209

Purchase accounting depreciation and amortization

666

Postretirement benefit plan settlement gain

(835)

ERP Implementation costs

133

Non-recurring professional fees

401

Debt interest and amortization charges

1,867

1,616

Net income, as adjusted

$                    6,422

$                   5,103

Earnings per diluted share, as reported

$                    (0.07)

$                     0.11

Adjustments, net of tax:

Impairment charges

0.08

Restructuring charges

0.05

0.01

Executive transition costs

0.03

0.01

Business acquisition costs

0.02

0.01

Purchase accounting depreciation and amortization

0.02

Postretirement benefit plan settlement gain

(0.03)

ERP Implementation costs

Non-recurring professional fees

0.01

Debt interest and amortization charges

0.06

0.05

Earnings per diluted share, as adjusted

$                    0.20

$                     0.16

Table 3: Reconciliation of the three months ended March 31, 2015 and 2014 reported income from operations to adjusted EBITDA:

First Quarter 2015

First Quarter  2014

Income from operations, as reported

$            1,229

$            7,465

Impairment charges

2,615

Restructuring charges

1,487

230

Executive transition costs

1,325

640

Business acquisition costs

1,090

322

Purchase accounting depreciation and amortization

1,003

Postretirement benefit plan settlement gain

(1,285)

ERP Implementation costs

204

Non-recurring professional fees

617

Income from operations, as adjusted

$            9,570

$            7,372

Add: Non-operating (expense) income net, as reported

469

(40)

Add: Depreciation and amortization

4,483

3,761

Adjusted EBITDA

$          14,522

11,093

Source: AMRI

Related stocks: NASDAQ-NMS:AMRI

Written by asiafreshnews

May 6, 2015 at 5:49 pm

Posted in Uncategorized

Thousands of Students Around the World Participate in Inaugural TOEFL® Young Students Series GO English! Project

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PRINCETON, N.J., May 5, 2015 /PRNewswire/ — Educational Testing Service (ETS), creator of the TOEFL® test, received over 400 projects for its TOEFL® Young Students Series GO English! project — “Our Town. In Our Words.” Launched in October 2014, the global campaign was designed to inspire students, under the guidance of their English-language teachers, to practice and improve their English skills in the classroom.

Video – http://youtu.be/gio3DB0NJJM

More than 3,500 students from 23 countries used their English-language skills to share what is great about their towns through video, radio, poster and newspaper column advertisements. Students, under the guidance of their teachers, were encouraged to be creative and use their knowledge of the English language to effectively communicate their messages.

“We’re proud of the students and teachers who participated in the TOEFL Young Students Series GO English! project,” said David Payne, Vice President and COO of Global Education at ETS. “It’s becoming increasingly important for students at younger ages to develop their English-language skills, and the number and quality of the projects submitted show us just how committed these schools are to helping students prepare for the future.”

Participating countries/regions include Brazil, mainland China, France, Germany, Indonesia, Japan, Jordan, Mexico, Pakistan, Russia, Saudi Arabia, South Korea, Taiwan, Turkey and Vietnam. Many of the projects can be viewed online at http://www.ets.org/toefl/goenglish.

“We’d like to thank ETS for the chance we were given to participate in the project,” said Mr. Nainggolan, English teacher for Class VIII-02, Soetomo School in Medan, Indonesia. “We’ve gained experience, had a lot of fun, and hope that we will get another chance to take part in a project like this in the future.”

Participating schools and classes received certificates and a plaque as part of a thank-you kit, as well as English-learning educational and promotional materials to support teachers in the classroom. ETS in-country partners in several countries also hosted ceremonies for participating schools.

The campaign is part of the TOEFL Young Students Series, a natural extension of the ETS TOEFL program, and is specifically geared to the English language learning needs of younger students. It includes the TOEFL® Primary™ tests, designed for students ages 8+ to set the right foundation for successful development of English-language skills, and the TOEFL Junior® tests, designed for students ages 11+.

For more information on the project, visit the TOEFL Young Students Series GO English! website at http://www.ets.org/toefl/goenglish.

About the TOEFL® Young Students Series

Designed to set the foundation for the successful development of English-language skills, the TOEFL® Young Students Series features age-appropriate assessments, products and services — including the TOEFL Junior® and TOEFL® Primary™ tests — to help guide younger students to the next steps of learning.

About ETS

At ETS, we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational institutions and government agencies by providing customized solutions for teacher certification, English language learning, and elementary, secondary and postsecondary education, and by conducting education research, analysis and policy studies. Founded as a nonprofit in 1947, ETS develops, administers and scores more than 50 million tests annually — including the TOEFL® and TOEIC® tests, the GRE ® tests and The Praxis Series® assessments — in more than 180 countries, at over 9,000 locations worldwide. http://www.ets.org

Source: Educational Testing Service

Written by asiafreshnews

May 6, 2015 at 4:25 pm

Posted in Education

TVB Gives Customers Anytime, Anywhere Entertainment With CyberSource Solutions

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— Television Broadcasts Limited (TVB) implements CyberSource’s global payment gateway and recurring billing system for its online payment services
— TVB to enable seamless customer checkout experience by consolidating one-time and recurring payment processing on a single platform

HONG KONG /PRNewswire/ — CyberSource, a wholly-owned subsidiary of Visa Inc.(NYSE: V), and one of the world’s largest providers of eCommerce payment management services, today announced a partnership with Television Broadcasts Limited (TVB), a leading free-to-air TV broadcasters in Hong Kong and one of the largest commercial Chinese program producers in the world. This agreement will allow TVB’s internet portal TVB.com to provide secure online payment acceptance services, as they continue to grow their business by enabling customers to purchase content from their web and mobile channels easily and safely.

Through this partnership, TVB.com will be able to leverage CyberSource’s global payment gateway services to process online payments from various card types from multiple issuers, made on both web and mobile channels, with options for recurring billing as well. To further streamline the checkout process, TVB.com will also utilize CyberSource Secure Acceptance services to enable instant checkout for returning customers.

Boasting one of the world’s highest average Internet connection speeds, Hong Kong’s household broadband and mobile penetration rates are high at 85 percent and 231 percent, respectively[1]. Merchants are increasingly looking to tap into the eCommerce and mCommerce opportunity in Hong Kong.

As traditional television viewing behavior converges with new media platforms, combined with high penetration of internet-connected devices, there is a growing demand for television programs anywhere, anytime and on any device. TVB.com hosts TVB program contents for round-the-clock entertainment and news services, including web and mobile applications, such as myTV, TVB News and TVB Finance, catering to diverse customer segments.

“We consistently strive to deliver the best customer experience, which plays a vital role in driving our business growth. We trust that putting in place a simple and seamless online payment services for our customers is the first key step in facilitating our venture into the paid media world. With CyberSource’s solutions, we can accept varied modes of payments according to our viewers’ preferences, taking customer experience to the next level. We also see a huge benefit in CyberSource’s payment solutions, which enables us to customize different packages to cater to our distinct customer segments,” said Wayne Lam, eCommerce Manager, TVB.

CyberSource’s online payment solution provides TVB with access to secure payment acceptance and comprehensive payment management services, via a single connection.  TVB will be able to process a wider spectrum of payment methods, while extending its business to the digital media space.

“As a market that is steeped in technology, Hong Kong’s eCommerce and mCommerce market has immense growth potential. We are proud to work with TVB to build an efficient and effective online payment environment. By ensuring a seamless and secure end-to-end customer experience, we hope to help the company achieve its business objectives of increasing customer retention, protecting its brand, and ultimately expanding globally,” said Poon Khye Wei, Regional Director, Greater China and Korea, CyberSource.

[1] Hong Kong Commerce and Economic Development Bureau, Public Consultation on 2014 Digital 21 Strategy: Smarter Hong Kong, Smarter Living, September 2013

About CyberSource

CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Foster City, California and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami/SaoPaulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit http://www.cybersource.com/asiapacific.

About Television Broadcasts Limited (TVB)

Television Broadcasts Limited (TVB) is the first wireless commercial television station in Hong Kong. Headquartered in Hong Kong, TVB was established in 1967, and provides round-the-clock entertainment channels and news service to over 7 million Hong Kong viewers, and operates an international licensing and distribution business. Many of the programmes produced in Cantonese are dubbed into Mandarin and other languages, and are distributed worldwide, including Asia (covering Mainland China, Taiwan, Malaysia,Singapore), Australia, North and South America, and Europe, accessible to over 300 million households. Today, TVB has over 4,600 staff and artistes worldwide. Their internet portal tvb.com is the official website of TVB and has been in operation since 2000.  It hosts TVB programme contents, available to viewers for catchup. The diverse portfolio includes TVB News, TVB Finance and myTV on mobile and web platforms. Visithttp://corporate.tvb.com/ for more information.

Services provided by CyberSource Corporation or CyberSource International, Inc.

For media queries, please contact:
Felicia Ang
Ying Communications
+65 9113 9636
felicia.ang@yingcomms.com

Source: CyberSource

Related stocks: NYSE:V

Written by asiafreshnews

May 6, 2015 at 4:08 pm

Posted in Uncategorized