Asia Fresh News

Asia Fresh Stories

Archive for August 10th, 2015

Sensor Advances Transport Radical Consumer Electronics Applications to Reality

leave a comment »

— The development of lighter, thinner, smaller sensors set to enhance electronic product lines , finds Frost & Sullivan

MOUNTAIN VIEW, Calif. /PRNewswire/ — Sensor technologies are making their presence felt in a plethora of consumer electronics applications driven by trends towards connectivity among individuals and devices. Sensors enable key capabilities such as improved, intuitive user interfaces and interactivity, accurate athletic performance tracking, and convenient, reliable identity authentication.

Frost & Sullivan
Frost & Sullivan

Recent analysis from Frost & Sullivan, Impact of Sensory Tracking Technology On Consumer Electronics Sector (https://www.frost.com/d686), finds that sensing technologies are finding uses in a multitude of consumer electronics applications:

  • Touch sensors for mobile phones, tablets, digital cameras
  • Touchless gesture recognition sensors for gaming, mobile devices, computers, toys
  • Motion sensors for mobile devices, game controllers, sports equipment, or to track heading and direction
  • Pressure sensors for indoor navigation
  • Biometric sensors for mobile devices, laptops, gaming
  • Brain computer interface sensors for game control, toys

For complimentary access to more information on this research, please visit: http://bit.ly/1IWbZI7

“3D sensor technologies used for gesture recognition can deliver intuitive, natural human-device interaction,” said Technical Insights Principal Analyst Peter Adrian. “Moreover, conductive films, such as silver nanowire films, will quicken the development of flexible, smaller, lighter, intuitive, economical and lower-power touch screens.”

The convergence of various technologies will further expand the use of sensors in consumer electronics. Crucial points of convergence include smart textiles, wearables, haptics, the Internet of Things, cloud services, and wireless transmission.

For such technologies to gain more of a foothold and proliferate, sensor manufacturers must address the need for flexibility, robustness, ultra-low power consumption, tiny form factor, and operating capability in different environments and lighting conditions. The deployment of microelectromechanical systems will facilitate the production of smaller, energy-efficient, more networkable sensors for consumer electronics.

“The availability of ubiquitous sensors that can be embedded in a range of devices or applications and readily send data to the Internet will throw open additional opportunities for the technology in consumer electronics,” noted Adrian. “As sensor technologies continue to evolve, increased intelligence and communications capabilities will bring novel consumer electronic solutions to the brink of commercialization.”

Impact of Sensory Tracking Technology On Consumer Electronics Sector, a part of the Technical Insights(http://ww2.frost.com/research/technology/sensors-control) subscription, identifies and analyses key sensor technologies that will impact consumer electronic applications in the near-, medium-, and longer-term. The study discusses opportunities, challenges, points of convergence, and strategic insights for each technology evaluated following extensive interviews with market participants.

Technical Insights is an international technology analysis business that produces a variety of technical news alerts, newsletters, and research services.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion
Join Us: Join our community
Subscribe: Newsletter on “the next big thing”
Register: Gain access to visionary innovation

Impact of Sensory Tracking Technology on Consumer Electronics Sector
D686

Contact:
Jaylon Brinkley
Corporate Communications  North America
P: (210) 247.2481
F: (210) 348.1003
E: jaylon.brinkley@frost.com

http://www.frost.com

Photo – http://photos.prnasia.com/prnh/20150807/8521505187

Source: Frost & Sullivan
Related Links:

Written by asiafreshnews

August 10, 2015 at 2:58 pm

Posted in Uncategorized

Prince Inks Exclusive Deal With TIDAL To Release Much Anticipated New Album, HITNRUN

leave a comment »

— RELEASE DATE SET FOR SEPTEMBER 7TH, 2015

NEW YORK /PRNewswire/ — Multi-platinum music icon Prince, and global music and entertainment platform TIDAL, today confirmed that the next release from the entertainer will be exclusively on TIDAL onSeptember 7, 2015.

Photo – http://photos.prnewswire.com/prnh/20150807/256903
Photo – http://photos.prnewswire.com/prnh/20150807/256916

The upcoming release, the experimental, HITNRUN, was first announced by his band, 3RDEYEGIRL, on BBC radio late last month, following the release of the critically praised first single, “HARDROCKLOVER”.  Minutes after the song was released on July 1st, critics raved with The Guardian saying, “Prince is back to his old sensual self ‘ripping jeans’ and ‘making women scream’ on this minimal slow jam.”  Billboard called the single “A dreamy rock song”, and Rolling Stone described it as simply “Wild”.

“Super hardcore Prince fans that know every song he’s ever recorded – we refer to them as ‘The Purple Collective’ or ‘The Purple Army’ – this album is absolutely for them, because it’s super funky,” reported 3RDEYEGIRL.  “There are a lot of experimental sounds.  It’s just hit after hit and definitely caters to those fans who just love to hear what Prince has to say, rather than wanting to always hear that classic Purple Rain Prince sound.”  Prince worked with co-producer Joshua Welton on HITNRUN – Welton was also a co-producer on Prince’s ARTOFFICIALAGE album, released late last year.

The Prince/TIDAL partnership has been in the works for some months, but was quickly cemented out of mutual admiration and respect and a profound belief in artists’ rights.  The relationship began in May with TIDAL live streaming the first hour of Prince’s RALLY 4 PEACE concert in Baltimore.  TIDAL hosted live audio of the event and matched funds for donations made on TIDAL.com.

The music icon stated, “After one meeting, it was obvious that Jay Z and the team he has assembled at TIDAL recognize and applaud the effort that real musicians put in2 their craft 2 achieve the very best they can at this pivotal time in the music industry.  Secondly, TIDAL have honored Us with a non-restrictive arrangement that once again allows Us to continue making art in the fashion We’ve grown accustomed 2 and We’re Extremely grateful 4 their generous support.  And lastly, in the tech-savvy, real-time world We all live in 2day, everything is faster.  From its conception and that one & only meeting, HITNRUN took about 90 days 2 prepare its release.  If that’s what freedom feels like, HITNRUN is what it sounds like.”

JAY Z added, “Prince has always been a visionary, a free-thinker.  We’re honored to offer his breadth of work, “1999,” “Purple Rain,” etc., music that has inspired so many, on TIDAL.  We’re also excited to be the home for his new upcoming album, HITNRUN.  Both Prince and TIDAL share the belief that all creatives should have the opportunity to speak directly to those that love and support them.  This partnership with Prince represents TIDAL’s philosophy in its truest form, a 1 to 1 connection and direct delivery of artistry to the world.”

About TIDAL
TIDAL is an innovative platform to experience and discover music from artists around the world, enjoy access to exclusive and curated content, and connect and share with artists. TIDAL is available in more than 44 countries with a 30 million song catalog, and more than 75,000 high quality videos. The service offers high-fidelity CD sound quality, high quality video, expertly curated content and unique experiences.

Follow TIDAL at http://facebook.com/tidal and http://twitter.com/tidalhifi

Source: TIDAL
Related Links:

Written by asiafreshnews

August 10, 2015 at 2:44 pm

Posted in Uncategorized

Next-Generation Infrastructure for Future Cities

leave a comment »

— Smart Infrastructure paves way for Integrated Infrastructure

MOUNTAIN VIEW, Calif. /PRNewswire/ —

WHEN:

11:00 a.m. EDT, Thursday, August 13, 2015

LOCATION:

Online webinar

REGISTER:

Online, with Free Registration: http://bit.ly/1MbbsTr

SPEAKERS:

Frost & Sullivan Team Leader, Archana Vidyasekar

Frost & Sullivan Senior Research Analyst, Robin Varghese

Living PlanIT CEO & Founder, Steve Lewis

Frost & Sullivan
Frost & Sullivan

Smart technologies are rapidly becoming pervasive, seamlessly impacting all aspects of our lives by changing the way we connect or interface with individuals and even infrastructure. With the rapid rate of urbanization and depleting resources, it is essential to rethink our city planning strategy to see how we can best optimize the capabilities of hard physical framework. Smart technologies available today offer a viable solution to the optimization problem by making the infrastructure data-driven. Smart infrastructures are therefore intelligent systems which are pro-active in terms of usage, interaction and efficiency powered by data. Connectivity and convergence has helped solution providers innovate and produce intelligent transport systems, smart grids, smart waste management, and smart water grids/solutions among others using sensors and big data. Market participants are currently strategizing to execute next generation services given the possibility of much faster technologies through 5G and other communication services. Governments world over are envisioning multimodal transport models, renewable energy integration, and sustainable water strategies with this new viable option.

Niche players have launched urban operating systems for such technology and data-driven infrastructure. The possibility of integrating internet of things infrastructure systems will be the way forward.

Join Frost & Sullivan as we take a look at examples of such smart infrastructure and operating systems making cities increasingly connected, efficient and user-centric.

Reasons to Attend:

  • To learn about the mammoth $83 trillion revenue split on Global Infrastructure
  • To witness how current infrastructure fares in comparison to next generation smart infrastructural systems
  • To learn how big data analytics is making in-roads in the infrastructure space
  • To discover what kind of financial flexibility opportunities Smart infrastructure provides
  • To realize the impact of mega trends on the future of infrastructure
  • To decipher the role of citizens in the smart infrastructural ecosystem change
  • To learn about the transformational shifts in regulatory approach
  • To investigate stakeholder activities in the Future Infrastructural ecosystem

Analyst Quote

“Collaboration is the key. To develop a smart infrastructural ecosystem, it is not enough that the individual systems deployed are intelligent. It is equally important that they all communicate with each other in a seamless manner,” noted Senior Research Analyst, Robin Varghese. “This would require the ecosystem players to cooperate and pull their resources to develop an ecosystem where the infrastructural systems communicate with each other. This sharing of data sets or use cases across platforms will further help draw meaningful insights which could be the base for higher intelligence and efficiency in future infrastructure.”

Registration

To register, click here or visit: http://bit.ly/1MbbsTr

Supporting Resources

For more information about Frost & Sullivan’s Visionary Innovation Group, please visit: http://www.frost.com.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible.  This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion
Join Us: Join our community
Subscribe: Newsletter on “the next big thing”
Register: Gain access to visionary innovation

Contact:
Jaylon Brinkley
Frost & Sullivan
+1-210-247-2481
jaylon.brinkley@frost.com

Logo – http://photos.prnasia.com/prnh/20150807/8521505188LOGO

Source: Frost & Sullivan
Related Links:

Written by asiafreshnews

August 10, 2015 at 2:08 pm

Posted in Uncategorized

Frost & Sullivan: Elevated Investment of $55.6 bn in Infrastructure Development Anticipated for Kenya

leave a comment »

— Numerous industry sectors are expected to benefit from major infrastructure projects

CAPE TOWN, South Africa /PRNewswire/ — Mega infrastructure projects are planned for East Africaand are set to create unique opportunities and open new markets in Kenya, Uganda and Ethiopia. Industry sectors expected to benefit from the planned infrastructure developments include oil and gas (O&G), mining, agriculture, and retail.

New analysis from Frost & Sullivan, African Infrastructure Tracker: Kenya, reveals that Kenya is set to become a hub for intra-regional trade in Africa. An estimated $55.6 billion in investment into infrastructure development forKenya is planned (as of 2015), the majority of which will focus on telecommunications and power generation infrastructure.

For complimentary access to more information on this research, please visit: http://ow.ly/QtnVa.

“Transport infrastructure has undergone major upgrades over the past 5 years in order to support the high trade demand in the East African region,” said Frost & Sullivan Senior Economic Consultant Craig Parker. “The Nairobi Southern bypass, for example, was commissioned in 2012 and is already 40% complete.”

Major road projects that are currently underway were established to alleviate the severe bottlenecks and traffic congestion. An estimated $5.14 billion has been dedicated to road project investment in Kenya.

However, disputes and illegal occupation of land in areas where infrastructure projects are underway, or are about to take place, have resulted in high relocation costs. This will culminate in delays along with escalating project completion costs.

Furthermore, legislative changes to the tendering process in Kenya have placed limitations on the type of projects international firms can get involved in. In order to address these challenges, and be accepted for infrastructure project tenders, global firms will be required to form local partnerships or joint ventures with domestic firms.

“Although private participation in infrastructure development is growing and tender processes are becoming more transparent, forging local partnerships will remain crucial for entering the Kenyan market successfully,” reiterated Parker. “This explains the emergence of high priority public-private partnership programmes, which boost the prospects of local construction companies and financial institutions that can offer finance to companies.”

African Infrastructure Tracker: Kenya is part of the Financial Benchmarking in the Infrastructure Industrysubscription, which will highlight planned logistics, transport, energy, ICT, water, health and education projects forKenya and the East Africa region. This analysis will include investment values, planned project completion dates and a discussion on threats and challenges to project completion.

African Infrastructure Tracker: Kenya
9841-F1

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us: Start the discussion

Contact:
Samantha James
Corporate Communications – Africa
P: +27 21 680 3574
F: +27 21 680 3296
E: samantha.james@frost.com
@FrostSullivanSA

http://www.frost.com

Source: Frost & Sullivan
Related Links:

Written by asiafreshnews

August 10, 2015 at 2:03 pm

Posted in Uncategorized

Pembina Pipeline Corporation Declares August Common Share Dividend

leave a comment »

CALGARY, Alberta /PRNewswire/ — Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) announced today that its Board of Directors declared a common share cash dividend forAugust 2015 of $0.1525 per share to be paid, subject to applicable law, on September 15, 2015 to shareholders of record on August 25, 2015. This dividend is designated an “eligible dividend” for Canadian income tax purposes. For non-resident shareholders, Pembina’s common share dividends should be considered “qualified dividends” and may be subject to Canadian withholding tax.

For shareholders receiving their common share dividends in U.S. funds, the August 2015 cash dividend is expected to be approximately U.S. $0.1163 per share (before deduction of any applicable Canadian withholding tax) based on a currency exchange rate of 0.7629. The actual U.S. dollar dividend will depend on the Canadian/U.S. dollar exchange rate on the payment date and will be subject to applicable withholding taxes.

Confirmation of Record and Payment Date Policy

Pembina pays cash dividends on its common shares in Canadian dollars on a monthly basis to shareholders of record on the 25th calendar day of each month (except for the December record date, which is December 31st), if, as and when determined by the Board of Directors. Should the record date fall on a weekend or a statutory holiday, the effective record date will be the previous business day. The dividend payment date is the 15th of the month following the record date. Should the payment date fall on a weekend or on a holiday the business day prior to the weekend or holiday becomes the payment date.

About Pembina

Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America’s energy industry for over 60 years. Pembina owns and operates pipelines that transport various hydrocarbon liquids including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids produced in western Canada and ethane produced inNorth Dakota. The Company also owns and operates gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. With facilities strategically located in western Canadaand in natural gas liquids markets in eastern Canada and the U.S., Pembina also offers a full spectrum of midstream and marketing services that spans across its operations. Pembina’s integrated assets and commercial operations enable it to offer services needed by the energy sector along the hydrocarbon value chain.

Forward-Looking Information and Statements

This news release contains certain forward-looking information and statements that are based on Pembina’scurrent expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “to be”, “expects”, and similar expressions.

In particular, this news release contains forward-looking statements and information relating to: future dividends which may be declared on Pembina’s common shares and preferred shares. These forward-looking statements are being made by Pembina based on certain assumptions that Pembina has made in respect thereof as at the date of this news release, regarding, among other things: oil and gas industry exploration and development activity levels; the success of Pembina’s operations and growth projects; prevailing commodity prices, margins, volumes and exchange rates; that Pembina’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements relating to existing assets and projects, including but not limited to future capital expenditures relating to expansion, upgrades and maintenance shutdowns; the success of growth projects; future operating costs; that any third party projects relating to Pembina’s growth projects will be sanctioned and completed as expected; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material construction, integrity or other costs related to current growth projects or current operations. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners, alliances and agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; the continuation or completion of third-party projects; actions by governmental or regulatory authorities including changes in tax laws and treatment, changes in royalty rates or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; construction delays; labour and material shortages; and certain other risks detailed from time to time inPembina’s public disclosure documents including, among other things, those detailed under the heading “Risk Factors” in Pembina’s management’s discussion and analysis and annual information form for the year endedDecember 31, 2014, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Pembina does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.

For further information: Investor Relations, Chelsy Hoy, +1-403-231-6393, +1-855-880-7404, e-mail: investor-relations@pembina.com, www.pembina.com

Source: Pembina Pipeline Corporation

Related stocks: NYSE:PBA Toronto:PPL

Related Links:

Written by asiafreshnews

August 10, 2015 at 1:58 pm

Posted in Uncategorized

Nexen Tire Signs Official Tire Partnership with Manchester City Football Club

leave a comment »

With the official partnership of Manchester City Football Club, Nexen Tire accelerates its European market expansion
-The company plans to execute various marketing activities by utilizing home stadium advertising and players’ portrait rights
-Nexen Tire is anticipated to accelerate its global expansion and cement its position as the world’s top tire maker through sports marketing activities

SEOUL, South Korea /PRNewswire/ — Nexen Tire, a leading global tire and tube manufacturer, has become an Official Partner of Manchester City Football Club (FC), one of the English Premier League’s strongest teams, as a part of the company’s sports marketing plan.

On August 6, Nexen Tire held a signing ceremony for their partnership agreement with Manchester City FC at the City Football Academy in Manchester, England and announced its Official Tire Partnership of Manchester City FC. Starting from the left, Ferran Soriano, Manchester City FC CEO, and Ho-Chan Kang, President of Nexen Tire.
On August 6, Nexen Tire held a signing ceremony for their partnership agreement with Manchester City FC at the City Football Academy in Manchester, England and announced its Official Tire Partnership of Manchester City FC. Starting from the left, Ferran Soriano, Manchester City FC CEO, and Ho-Chan Kang, President of Nexen Tire.

On August 6 (local time), Nexen Tire held a signing ceremony for their partnership agreement with Manchester City FC at the City Football Academy in Manchester, England and announced its Official Tire Partnership of Manchester City FC. The ceremony was attended by Ho-Chan Kang, President of Nexen Tire, Ferran Soriano, Manchester City FC CEO, Omar Berrada, City Football Marketing Commercial Director, and other executives from both sides. Manchester City FC players were also in attendance.

This partnership underpins Nexen Tire’s rapid expansion into the global market by establishing a strong foothold in the European and global market through active communications with customers. Football fans from Europe and around the world will be able to see Nexen Tire’s logo on digital boards whenever Manchester City play at the Etihad Stadium. Moreover, the company plans to execute various marketing activities by utilizing players’ portrait rights and sponsorship management.

“We are very pleased to serve as the Official Tire of Manchester City FC, one of the best soccer clubs in Europe. Manchester City FC is the perfect partner for Nexen Tire, considering its position in the league as one of the top-class football clubs with their decisive investment in and recruitment of top stars,” said Ho-Chan Kang, President of Nexen Tire.

He also added that, “This will provide us a great opportunity to let customers around the world know about Nexen Tire through the partnership with Manchester City FC, which has numerous fans across all continents. We will strengthen our brand power through continuous sports marketing.”

“We are very happy to welcome Nexen Tire as our newest global partner and to welcome President Kang to our home in Manchester. We have millions of followers in South Korea and we will be able to provide them with more engaging experiences. Nexen is not only a well-established South Korean brand, but has a strong ambition to grow globally like we do. This partnership builds a strategic relationship that will enable us both to meet our objectives,” said Ferran Soriano, Chief Executive of Manchester City FC.

Nexen Tire provides OE tires to global car makers, including Volkswagen, Fiat, Renault-Daimler and others, and has been strengthening its global presence with a focus on the European market. Starting in late 2015, the company will begin the construction of a new tire manufacturing plant in the Czech Republic, which will feature the most advanced automation systems along with environmentally friendly technologies. Commercial operation is planned to commence in 2018. It is expected to serve as an important manufacturing hub for the company as it seeks to join the world’s top tire makers due to its strategic location near the production plants of global car makers.

In addition, Nexen Tire has gained the confidence of European consumers with the outstanding performance and excellent quality of its tires, which have received positive ratings in performance tests from highly renowned automobile magazines in Europe, such as Autobild.

About Nexen Tire

Nexen Tire, established in 1942, is a global tire manufacturer headquartered in Yangsan, South Gyeongsang Province, and in Seoul, South Korea. Nexen Tire, one of the world’s fastest growing tire manufacturers, works with 491 dealers based in 141 countries around the world (as of July 2015) and owns three manufacturing plants – two in Korea (Yangsan and Changnyeong) and one in Qingdao, China. Another plant in Zatec, Czech Republicwill be operational by 2018. Nexen Tire produces tires for passenger cars, SUVs and light trucks with advanced technology and excellence in design. The company also focuses on producing UHP tires, which are based on advanced technologies. Nexen Tire supplies OE tires to global car makers in various countries around the world. In 2014, the company achieved a grand slam of the world’s top 4 design awards for the first time amongst the various tire makers in the world. For more information, please visit http://www.nexentire.com.

Photo – http://photos.prnasia.com/prnh/20150807/8521505186

Source: Nexen Tire
Related Links:

Written by asiafreshnews

August 10, 2015 at 12:47 pm

Posted in Uncategorized

Asia Plantation Capital Welcomes European Guests to its Latest Distillery and Factory in Malaysia

leave a comment »

KUALA LUMPUR, Malaysia /PRNewswire/ — At its new, purpose-built distillery and factory in Johor, Malaysia, Asia Plantation Capital recently hosted plantation clients, along with asset and wealth managers fromFrance, Germany and Switzerland. Opened in February 2015, the facility is due to be fully operational later this year, and will be the largest distillery and processing plant in Southeast Asia for the much sought after agarwood and its associated products.

Asia Plantation Capital’s Aquilaria tree nursery in Johor.
Asia Plantation Capital’s Aquilaria tree nursery in Johor.

Demand for agarwood has been growing across the globe in recent years, whether in the form of aromatic oil (Oud), fragrant woodchips, or wood sculptures, and is now the most expensive forestry product (on a per kilogramme basis) in the market today. Significant illegal logging has taken place in the past to meet this ever-increasing demand, resulting in the severe depletion of the Aquilaria tree (the source of agarwood), to the point of near extinction.

Asia Plantation Capital is fully committed to ensuring the sustainability of the species, and this commitment has focused the company’s attention on the critical aspects of the cultivation and harvesting of the trees. Asia Plantation Capital has designed and established a number of programmes with sustainability and environmental awareness in mind, including CITES compliance (Convention on International Trade in Endangered Species of Wild Fauna and Flora), whereby all agarwood products that are shipped internationally are tracked to ensure that they are legally sourced. Other notable programmes include extensive research and development to maximise the yield of the tree so that no part of the harvest is wasted, as well as a commitment to replace every Aquilaria tree that is harvested with at least one other tree (usually more), to ensure the survival of the species. Asia Plantation Capital has played a vital role in the reintroduction of the species to various parts of Asia where the tree stocks were depleted, such as Hong Kong and Sri Lanka.

“The tour with Asia Plantation Capital to the plantations, offices and boutiques was very informative,” said Ms Weiss, a client from Germany. “For me, showing the process from planting trees to distilling the oil and experiencing the perfume made from the oil was impressive, and I realised instantly that the aroma of the wood and the oil is remarkable.”

Steve Watts, CEO Asia Pacific (second from right), pointing out the features of Asia Plantation Capital’s custom-designed agarwood distillery to visitors from Germany and Switzerland.
Steve Watts, CEO Asia Pacific (second from right), pointing out the features of Asia Plantation Capital’s custom-designed agarwood distillery to visitors from Germany and Switzerland.

The visitors were full of praise for what they saw and experienced, many coming away with a more in-depth understanding of the processes required and the efforts undertaken by Asia Plantation Capital to deliver a sustainable product of the highest quality.

“My tour of Asia Plantation Capital’s operations from Northern to Eastern Thailand, to Johor and the Singaporehead office, along with the outstanding Fragrance Du Bois boutique at the Fullerton hotel, was very agreeable,” said Dr Daniel Delevaux MD, the Republic of Madagascar’s Honorary Consul to Thailand since 1996. “It was a fruitful trip, and certainly enhanced my knowledge of Agarwood and Oud. I would like to thank Asia Plantation Capital’s very professional team for being so nice, and organising everything so perfectly.”

Visitors at Fragrance Du Bois’ Singapore flagship boutique at the iconic Fullerton Hotel.
Visitors at Fragrance Du Bois’ Singapore flagship boutique at the iconic Fullerton Hotel.

“At Asia Plantation Capital we are committed not only to producing agroforestry products of the highest natural quality,” said Mr Steve Watts, CEO Asia Pacific, Asia Plantation Capital. “We also ensure sustainability in these crops, and we work hard to promote environmental awareness. It’s important for us to know that everything we do works to the benefit of society as a whole. We are delighted to host visitors at our facilities across Asia, and take great pride in helping to educate interested parties about the extraordinary virtues of the Aquilaria tree that gives us agarwood. The whole process,” he concluded, “is to spread the message that sustainability is critical for the future of our world.”

The factory and distillery in Johor, Malaysia, is part of a US$50 million investment by Asia Plantation Capital to expand operations in the country over the next few years. The company is in the process of acquiring plantations, through both acquisitions and partnerships, to increase its footprint in Malaysia.  Also in the pipeline is the establishment of an Aquilaria nursery and research centre in Southern Malaysia, in conjunction with several leading agarwood academics, along with the company’s own scientific research board.

For further information, please contact:

Adrian Heng
Group Communications Director
Email: adrian.heng@asiaplantationcapital.com
Office: +65 6222 3386
Mobile: +65 9750 7440

About Asia Plantation Capital

Quick facts:

  • US$ 600 million – combined value of assets owned and under management
  • US$ 53.5 million – turnover in the last financial year

Asia Plantation Capital is the owner and operator of a diverse range of commercial plantation and farming businesses across the Asia-Pacific region and around the world, and is part of the Asia Plantation Capital Group of associated companies. Its focus is on multicultural and diverse plantation projects geared to the domestic and commercial demands of the countries in which it operates. Working closely with, and supporting local communities, is an underlying core principle of the Asia Plantation Capital business, providing social and cultural support, as well as investment, to move these communities away from deforestation and illegal logging activities, previously seen as a main source of income in some regions of Asia. Established officially in 2008 (although operating privately since 2002) the group now has plantation and agricultural projects on four continents, with operational projects at various stages in Thailand, Malaysia, China, Laos, India, Cambodia, Sri Lanka, Myanmar,Vietnam, North America and Europe.

Promoting the use of sustainable and certified wood is the best way of preventing deforestation, protecting biodiversity, and combatting poverty in the tropical rainforest regions. For the yachting sector (a major user of teak) which strives for excellence and which is already involved in environmental efforts, this is also a way of ensuring that no wood from illegal logging is used.

About Fragrance Du Bois

Fragrance Du Bois is a niche luxury perfume house working closely with sustainable plantations in Asia, bringing exciting new 100% organic Oud oil based fragrances to exclusive markets worldwide. Sustainably sourcing the finest raw materials across the globe, working with French perfumers to create a full range of products, and also providing bespoke fragrance services, Fragrance Du Bois is personal luxury with a conscience. With exclusive fragrance lounges around the world, in Dubai, Hong Kong, Thailand, Malaysia and Singapore, Fragrance Du Bois creates only the finest experience in bespoke perfumery.

Fragrance Du Bois is known as Parfums Du Bois in France and in non-French speaking markets, as Fragrance Du Bois.

Photo – http://photos.prnasia.com/prnh/20150807/8521505181-a
Photo – http://photos.prnasia.com/prnh/20150807/8521505181-b
Photo – http://photos.prnasia.com/prnh/20150807/8521505181-c

Source: Asia Plantation Capital

Written by asiafreshnews

August 10, 2015 at 12:22 pm

Posted in Uncategorized

9 Questions to Ask Before You Engage with Instagram Influencers

leave a comment »

NEW YORK /PRNewswire/ — As the social community continues to grow and thrive, small business marketers are eager to identify which platforms provide a foundation for high levels of engagement. Instagram is a channel that drives tremendous amount of discoverability and increases brand awareness, but businesses are still searching for ways to successfully recruit social influencers on the platform.

Logo – http://photos.prnewswire.com/prnh/20110831/NY59180LOGO

In her latest article posted to PR Newswire’s Small Business PR Toolkit, Sarah Ware, co-founder and chief executive of Markerly, offers nine questions to ask before working with influencers on Instagram.

Are they on Kik?  Influencers may not want their phone number or email out in the open and that is where the app Kik comes into play. A user’s Instagram handle is most often their Kik handle and it’s the platform of choice for messaging with Instagram influencers.

How long will Instagrammers keep the post up? Just like an advertisement, you and the Instagram influencer will have to decide for how long and how many times your post will be shown. This will most likely come at a cost and you’ll want to ensure the influencer notifies you when the post is up so you can cross-promote through your own social media networks.

Links in the bio? If you are going to want a direct link to your website in the Instagram post, you may be disappointed. Instagram isn’t an app that will let you post website links or other social media links in the caption, but they will allow direct links in the bio section of account profiles. Try and arrange an agreement with your influencer where they will put your site link on their bio page when they are promoting your business.

Are there discounts for buying in bulk? You may decide to buy one post at a time from the influencer, but there may be a better deal if you buy in bulk. Figure out your budget and negotiate with the influencer to determine a way that your posts can go up multiple times a week or month without it breaking the bank.

To read Ware’s five remaining questions to ask before engaging with Instagram influencers, read her complete article here: http://bit.ly/1IZ9yo8.

PR Newswire’s Small Business PR Toolkit is a comprehensive resource that provides small businesses and entrepreneurs the tools to develop an affordable public relations and marketing plan that helps generate interest from potential customers, engage with key audiences and grow their businesses. The toolkit features relevant content such as informative white papers, interactive webinars and how-to articles and premium access to educational resources, as well as the opportunity to take advantage of special offers designed specifically for small businesses. To request information on how PR Newswire can help your small business, click here. You can receive updates on new Small Business PR Toolkit content by following @prnsmallbiz on Twitter.

About PR Newswire
PR Newswire (www.prnewswire.com) is the premier global provider of multimedia platforms that enable marketers, corporate communicators, sustainability officers, public affairs and investor relations officers to leverage content to engage with all their key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to-end solutions to produce, optimize and target content — from rich media to online video to multimedia — and then distribute content and measure results across traditional, digital, mobile and social channels. Combining the world’s largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire enables the world’s enterprises to engage opportunity everywhere it exists. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and the Asia-Pacific region, and is a UBM plc company.

Contact:
Amanda Eldridge
Director, Strategic Channels
201-360-6906
Amanda.eldridge@prnewswire.com

Source: PR Newswire Association LLC

Related stocks: LSE:UBM OTC-PINK:UBMPY

Written by asiafreshnews

August 10, 2015 at 12:01 pm

Posted in Uncategorized

Pembina Pipeline Corporation Reports Second Quarter 2015 Results

leave a comment »

-Continuing to progress growth projects; secured $380 million of new fee-for-service projects during the second quarter
-All financial figures are in Canadian dollars unless noted otherwise. This news release contains forward-looking statements and information that are based on Pembina Pipeline Corporation’s (“Pembina” or the “Company”) current expectations, estimates, projections and assumptions in light of its experience and its perception of historic trends. Actual results may differ materially from those expressed or implied by these forward-looking statements. Please see “Forward-Looking Statements & Information” herein and in the Company’s Management’s Discussion & Analysis (“MD&A”) for more details. This news release also refers to net revenue, operating margin, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted cash flow from operating activities (and cash flow from operating activities per common share and adjusted cash flow from operating activities per common share), and total enterprise value, which are financial measures that are not defined by Generally Accepted Accounting Principles (“GAAP”). Pembina’s methods of calculating these financial measures may not be directly comparable to that of other companies. Pembina considers these non-GAAP financial measures to provide useful information to both management and investors in measuring Pembina’s financial performance and financial condition. For more information about the measures which are not defined by GAAP, including a reconciliation to the most directly comparable GAAP measure, see “Non-GAAP and Additional GAAP Measures” herein and in the MD&A, which is available at Pembina’s website at http://www.pembina.com and on SEDAR at http://www.sedar.com. Pembina’s entire quarterly report for the period ended June 30, 2015 is also available at Pembina’s website and on SEDAR.

CALGARY, Alberta /PRNewswire/ — Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the second quarter of 2015.

Financial Overview

($ millions, except where noted)

3 Months Ended
June 30
(unaudited)

6 Months Ended
June 30
(unaudited)

2015

2014

2015

2014

Revenue

1,213

1,606

2,367

3,365

Net revenue(1)

351

360

726

807

Operating margin(1)

259

269

543

619

Gross profit

200

214

428

516

Earnings

43

77

163

224

Earnings per common share – basic and diluted (dollars)

0.09

0.21

0.41

0.65

EBITDA(1)

226

235

466

551

Cash flow from operating activities

209

155

329

416

Cash flow from operating activities per common share – basic (dollars)(1)

0.62

0.48

0.97

1.30

Adjusted cash flow from operating activities(1)

176

191

389

455

Adjusted cash flow from operating activities per common share – basic (dollars)(1)

0.51

0.59

1.14

1.42

Common share dividends declared

154

140

302

274

Preferred share dividends declared

11

7

21

13

Dividends per common share (dollars)

0.45

0.43

0.89

0.85

Capital expenditures

387

298

885

585

(1)  

Refer to “Non-GAAP and Additional GAAP Measures.”

Q2 2015 Highlights

Pembina continued to deliver solid operational results and demonstrate financial resilience over the second quarter in 2015,” said Scott Burrows, Pembina’s Vice President, Finance and Chief Financial Officer. “We saw operating margin increase across all of our businesses, with the exception of our Midstream business, during the second quarter and first six months of the year compared to the same periods last year.”

“The low commodity price environment that we’ve been experiencing this year has been challenging; however, with Pembina’s fee-for-service business model, strong balance sheet and high quality, diversified asset base, we are well positioned to endure these bumps in the road. We remain confident in the long-term sustainability and growth of our cash flows, and are committed to increasing shareholder value. For these reasons, the Board approved a common share dividend increase of 5.2 percent during the second quarter, as previously announced.”

Also during the second quarter, Pembina commissioned its Phase II crude oil and condensate pipeline expansion and placed a new storage cavern into service. Additionally, Pembina continued to progress its secured growth projects, including obtaining regulatory approval for the Company’s third Redwater fractionator announcing new projects such as the Horizon Pipeline Expansion and a new pipeline lateral, as well as releasing details on providing terminalling and natural gas liquids (“NGL”) fractionation services for a customer’s planned refinery.

Mick Dilger, Pembina’s President and Chief Executive Officer commented: “2015 is an exciting year for us given that we are bringing multiple, large capital projects into service that will add incremental cash flows to our business. Over the next two years, we will be placing major assets into service almost every quarter which means 2015 is just the beginning of the transformational expansions we have ahead of us. The value of growing our fee-for-service revenue streams is becoming increasingly visible and will be realized by our shareholders in the near term.”

The second quarter of 2015 marks Pembina’s sixth consecutive quarter with no employee lost-time injuries. “This is a remarkable achievement especially given that employees worked 20 percent more hours in the second quarter of 2015 compared to the same period last year and over 3.7 million hours in total since the beginning of 2014. Operating and constructing projects safely is a core focus at Pembina and these outstanding results are a testament to our “safety first” company culture,” said Mr. Dilger.

Mr. Dilger continued: “We are on track to deliver our over $6 billion of secured growth projects which, depending on utilization rates, are expected to add $700 million to $1 billion of incremental EBITDA in 2018. Pembina is well positioned with our assets situated on some of the best geological plays in the world that have very long resource life potential. I am confident in Pembina’s ability to continue generating long-term shareholder value for years to come.”

Q2 2015 Financial Review

Revenue in the second quarter of 2015 was $1.2 billion compared to $1.6 billion for the second quarter of 2014. Year-to-date revenue was $2.4 billion for 2015 compared to $3.4 billion for the same period in 2014. Net revenue (revenue less cost of goods sold including product purchases) was $351 million for the second quarter of 2015, compared to $360 million in 2014 and $726 million year-to-date in 2015 as compared to $807 million for the same period in 2014. The Company’s Conventional Pipelines and Gas Services businesses had increases in revenue of 25 percent and 26 percent in the second quarter (28 percent and 27 percent year-to-date), respectively, over the same periods in 2014. This strong performance, combined with steady results in the Company’s Oil Sands and Heavy Oil business, helped to offset decreased performance in the Company’s Midstream business. The decreased performance in the Midstream business was due to lower commodity prices, with the greatest impact from propane, where the average year-to-date market price in 2015 declined by almost 60 percent compared to the same period in 2014, which overall resulted in lower consolidated revenue for the second quarter and first half of 2015 compared to the same periods in 2014.

Operating expenses were $96 million for the second quarter of 2015 compared to $91 million during the same period of 2014. For the six months ended June 30, 2015, operating expenses were $205 million compared to$186 million in the same period of 2014.  These increases in operating expenses were primarily related to increased integrity spending on the Company’s pipelines and new assets in-service, offset by a reduction in operating expenses in the Company’s Midstream business resulting from Pembina’s sale of its non-core trucking-related assets recognized in the second quarter of 2014.

During the second quarter of 2015, operating margin was $259 million compared to $269 million in the second quarter of 2014. Stronger performance in the Conventional Pipelines and Gas Services businesses largely resulted from new assets being placed into service and realized gains on commodity-related derivative financial instruments which were offset by the decrease in the Company’s Midstream business, primarily due to the impact of lower commodity prices. For the first six months of 2015, operating margin was $543 million compared to $619 million for the same period of 2014. The decrease was primarily due to the same factors mentioned above.

Depreciation and amortization included in operations during the second quarter of 2015 was $55 millioncompared to $51 million for the same period in 2014. This increase was primarily due to the year-over-year growth in Pembina’s asset base in the Conventional Pipelines business associated with the Company’s pipeline expansion projects, as well as the Vantage pipeline acquisition and the Gas Services business, offset by the reduction from disposition of its non-core trucking-related assets that was recognized in the second quarter of 2014. For the six months ended June 30, 2015, depreciation and amortization included in operations was $109 million compared to $103 million in the first half of 2014 for the same reasons noted above.

Gross profit for the second quarter of 2015 was $200 million compared to $214 million during the second quarter of 2014. This seven percent quarter-over-quarter decrease was related to lower operating margin, as previously discussed, and was coupled with increased depreciation and amortization included in operations and an unrealized loss on commodity-related derivative financial instruments. For the six months ended June 30, 2015, gross profit was $428 million compared to $516 million in the first half of 2014 for the same reasons discussed above.

For the three and six month periods ending June 30, 2015, Pembina incurred general and administrative expenses (excluding corporate depreciation and amortization) of $34 million and $80 million compared to $33 million and $68 million during the same periods of 2014. These increases were primarily due to increased salary, benefits, and short-term share-based incentive expenses (related to the addition of new employees to supportPembina’s growth) and increased rent, largely offset by decreased long-term share-based incentive expenses and reduced consulting expenses. Every $1 change in share price is expected to change Pembina’s annual share-based incentive expense by approximately $1 million.

Pembina generated EBITDA of $226 million and $466 million for the second quarter and first half of 2015, compared to $235 million and $551 million for the respective periods of 2014. The decreases were predominantly due to lower operating margin combined with higher general and administrative expenses in the first half of 2015.

Net finance costs incurred during the second quarter of 2015 were $26 million compared to $48 million for the second quarter of 2014. This decrease was primarily due to fluctuations in the fair value of the conversion feature on the series E and F convertible debentures (“Conversion Feature”) associated with a reduction in the number of instruments outstanding as well as changes in share price. In the second quarter of 2015, Pembina recognized a loss on revaluation of the Conversion Feature of $1 million, compared to a loss of $21 million recognized for the same period of 2014. Also contributing to lower net finance costs was a $4 million decrease in interest expense on loans and borrowings, partially offset by $2 million in foreign exchange losses realized in the second quarter of 2015. For the first six months of 2015, net finance costs were $39 million compared to $109 million for the first half of 2014. This decrease is largely attributable to the revaluation of the Conversion Feature identified above. In the first half of 2015, Pembina recognized a gain on revaluation of $10 million, compared to a loss on revaluation of $55 million in the first half of 2014. In addition, interest expense on loans and borrowings and convertible debentures decreased from $51 million in the first half of 2014 to $44 million in the first half of 2015.

Income tax expense for the second quarter of 2015 totaled $93 million, including current tax of $23 million and deferred tax of $70 million, compared to income tax expense of $51 million in 2014, including current tax of $15 million and deferred tax of $36 million. Current tax expense for 2015 was higher in the comparable period in 2014 predominantly due to higher taxable income previously deferred. The increase in deferred tax expense in the current quarter is attributable to an increase in the income tax rate. On June 18, 2015, Alberta’s Finance Minister introduced Bill 2 – An Act to Restore Fairness to Public Revenue, Alberta Corporate Tax Rate Change to increase the general corporate tax rate from 10 percent to 12 percent, effective July 1, 2015 (substantively enacted June 18, 2015). Income tax expense was $138 million for the six months ended June 30, 2015, including current taxes of $45 million and deferred taxes of $93 million, compared to income tax expense of $107 million in 2014, including current taxes of $49 million and deferred taxes of $58 million in the same period of 2014. The decrease in current taxes is attributable to a decrease in income subject to tax in the first half of 2015 as compared to the prior year. The increase in deferred taxes is mainly attributable to the increase in the provincial income tax rate, as noted above.

The Company’s earnings were $43 million ($0.09 per common share) during the second quarter of 2015 compared to $77 million ($0.21 per common share) in the same period of 2014. Higher gross profit in the Conventional Pipelines and Gas Services businesses and lower net finance costs were more than offset by lower gross profit in the Midstream business, and increased deferred tax expense, as explained above. Earnings were$163 million ($0.41 per common share) during the first half of 2015 compared to $224 million ($0.65 per common share) during the same period of the prior year. The year-to-date decrease was due to the same factors noted above. On a year-to-date basis, earnings attributable to common shareholders net of dividends attributable to preferred shareholders are $139 million (2014: $209 million).

Cash flow from operating activities for the second quarter of 2015 was $209 million ($0.62 per common share – basic and diluted) compared to $155 million ($0.48 per common share – basic and diluted) during the second quarter of 2014. Decreased interest paid and increased change in non-cash working capital in the 2015 period compared to the respective period in 2014 were offset by higher taxes paid and decreased operating margin. For the six months ended June 30, 2015, cash flow from operating activities was $329 million ($0.97 per common share – basic) compared to $416 million ($1.30 per common share – basic) during the same period last year, largely as a result of decreased operating margin and increased taxes paid in 2015, offset by a decreased change in non-cash working capital.

Adjusted cash flow from operating activities for the second quarter of 2015 was $176 million ($0.51 per common share – basic) compared to $191 million ($0.59 per common share – basic) during the second quarter of 2014. For the six months ended June 30, 2015, adjusted cash flow from operating activities was $389 million ($1.14 per common share – basic) compared to $455 million ($1.42 per common share – basic) during the same period last year. The decreases for the three and six month periods were primarily due to lower operating margin, increased tax expenses and preferred share dividends.

Second quarter and year-to-date 2015 per share numbers were impacted by increased common shares outstanding due to the Dividend Reinvestment Plan, debenture conversions and share-based payment transactions.

Operating Results

3 Months Ended

June 30

6 Months Ended

June 30

(mbpd, except where noted)(1)

2015

2014

2015

2014

Conventional Pipelines revenue volumes(2)

603

573

618

563

Oil Sands & Heavy Oil contracted capacity

880

880

880

880

Gas Services average revenue volumes (mboe/d) net to Pembina(2)(3)

108

87

111

88

Midstream NGL sales volume(4)

104

105

117

119

Total volume

1,695

1,645

1,726

1,650

(1)     

mbpd is thousands of barrels per day.

(2)     

Revenue volumes are equal to contracted and interruptible volumes.

(3)     

Gas Services average revenue volumes converted to mboe/d (thousands of barrels of oil equivalent per day) from million cubic feet per day (“MMcf/d”) at 6:1 ratio.

(4)     

NGL is natural gas liquids.

3 Months Ended

June 30

(unaudited)

6 Months Ended

June 30

(unaudited)

2015

2014

2015

2014

($ millions)

            Net
Revenue(1)

Operating
Margin(1)

            Net
Revenue(1)

Operating
Margin(1)

             Net
Revenue(1)

Operating
Margin(1)

            Net
Revenue(1)

Operating
Margin(1)

Conventional Pipelines

152

102

122

77

306

200

239

154

Oil Sands & Heavy Oil

50

35

48

33

105

70

100

67

Gas Services

49

35

39

26

103

72

81

55

Midstream

99

86

151

131

212

199

387

340

Corporate

1

1

2

2

3

Total

351

259

360

269

726

543

807

619

(1)  

Refer to “Non-GAAP and Additional GAAP Measures.”

  • Second quarter and first half of 2015 financial and operating results in Conventional Pipelines were higher than the comparable periods of 2014 primarily due to the Phase I Expansions and the associated contracted volumes, which were placed into service in December 2013. The additional volumes increased over time as new connections were placed into service during 2014, as well as higher capacity utilization being realized in the first six months of 2015. Also contributing to improved results was placing the Phase II crude oil and condensate expansion into service in April 2015, which allowed for the receipt of higher volumes at existing connections and truck terminals, as well as additional volumes from the acquired Vantage pipeline beginning in late-2014. New storage facilities and portions of pipeline associated with other expansion programs, which were commissioned during the first half of 2015, also resulted in increased mainline throughput.
  • In the Oil Sands & Heavy Oil business, the increases in net revenue and operating margin during the first half of 2015 compared to the same period of 2014 were primarily related to higher interruptible volumes and additional flow-through operating expenses in this business during the first six months of 2015 compared to the six months ended June 30, 2014.
  • In the Gas Services business, financial and operating results increased in the second quarter and first half of 2015 compared to the same period of 2014 primarily due to the addition of the Resthaven Facility, which was placed into service in October 2014, and the Musreau II Facility, which was placed into service in December 2014.
  • In the Midstream business, second quarter 2015 net revenue and operating margin were $99 million and $86 million, respectively, compared to $151 million and $131 million during the same period in 2014. For the first half of 2015, net revenue and operating margin were $212 million and $199 million, respectively, compared to $387 million and $340 million in the first half of 2014. Net revenue and operating margin were reduced in 2015 due to lower commodity prices (particularly the weaker period-over-period propane prices, where market prices declined by almost 60 percent) and tighter price differentials across all commodities.

New Developments in 2015 and Growth Projects Update

Conventional Pipelines

Pembina continued to make substantial progress on its Phase II crude oil, condensate and NGL expansions (“Phase II Expansions”). On April 24, 2015, Pembina placed its Phase II crude oil and condensate expansion (“Phase II LVP”) into service, which added an incremental 55 thousand barrels per day (“mbpd”) on the Company’s Peace pipeline system and brought total capacity on this line to 250 mbpd.

For the high vapour pressure (“HVP”), or NGL, portion of the Phase II Expansions (“Phase II HVP”), construction is 80 percent complete and 90 percent of the project-related costs have been secured. The Phase II HVP project is continuing to track on budget with initial commissioning anticipated in the third quarter of 2015 and the expectation of being fully operational in the fourth quarter of this year. Once complete, the Phase II HVP expansion will add 53 mbpd to the Company’s Peace and Northern NGL pipeline systems and bring total NGL capacity on these lines to 220 mbpd.

Earlier this year, Pembina brought into service a 35 kilometre (“km”) 16-inch pipeline segment from Lator to Simonette, as part of the Phase III pipeline expansion (“Phase III Expansion”). In late April, Pembina also placed in-service a 35 km 16-inch pipeline segment from Kakwa to Lator. To date, the Company has completed over 15 percent of the overall Phase III Expansion program.

The Phase III Expansion also includes two pipelines between Fox Creek and Namao, Alberta (one 16-inch diameter and one 24-inch diameter) which would provide an initial combined capacity of 420 mbpd and an ultimate capacity of over 680 mbpd with the addition of midpoint pump stations. The Alberta Energy Regulator (“AER”) has changed the hearing date relating to the Fox Creek to Namao portion of the Phase III Expansion fromJuly 2015 to October 2015. According to AER guidelines, Pembina expects to receive a decision from the AER within 90 days after the hearing is concluded. Subject to regulatory and environmental approvals, the Company anticipates an in-service date between late-2016 and mid-2017 for these two pipelines.

As part of the Company’s plans to expand its gathering presence in Alberta and British Columbia, Pembinaannounced in May 2015 that it plans to construct a new pipeline lateral in the Karr area of Alberta (the “Karr Lateral”) to service production from the Montney resource play which will access the Company’s Phase III Expansion. The Karr Lateral is expected to cost $55 million with a design capacity of 30 mbpd and is underpinned by long-term, fee-for-service agreements, which include substantial take-or-pay commitments. A portion of the volume under contract will be incremental to Pembina’s previously disclosed committed volumes.  Subject to regulatory and environmental approvals, the Karr Lateral is expected to be in-service early-2016.

Pembina also completed and commissioned its lateral in the Willesden Green area of Alberta at the end of May 2015, further supporting the Company’s other pipeline expansion initiatives.

Pembina is continuing work on the $220 million expansion to its pipeline infrastructure in northeast British Columbia (the “NEBC Expansion”). The NEBC Expansion, which is underpinned by a long-term, cost-of-service agreement with an anchor tenant, will transport condensate and NGL for various producers in the liquids-richMontney resource play. Currently, 60 percent of engineering design is completed and, subject to regulatory and environmental approvals, Pembina anticipates bringing the NEBC Expansion on-stream in late-2017.

As announced in February 2015, Pembina plans to expand the Vantage pipeline system for an estimated capital cost of $85 million (the “Vantage Expansion”). Supported by a long-term, fee-for-service agreement with a take-or-pay component, the Vantage Expansion will increase the mainline capacity from 40 mbpd to 68 mbpd through the addition of mainline pump stations and the construction of a gathering lateral. To-date, all long lead materials have been ordered and the project is tracking on schedule and on budget. Subject to regulatory and environmental approvals, the Vantage Expansion is expected to be in-service in early-2016.

Pembina has been successful in its commercial efforts to secure the majority of its existing crude oil and condensate volumes under long-term, firm-service contracts. In aggregate and including contracted volumes on the Vantage pipeline, Pembina has now secured 767 mbpd of crude oil, condensate and NGL across its Conventional Pipelines business.

Pembina’s projects and existing pipeline networks continue to have expansion capacity available to meet the needs of future developments currently under evaluation by its customers. Capacity increases to meet the Company’s customers’ existing and future demands can be achieved through simple upgrades, such as adding new pump stations that can be installed within 12 to 18 months. Adding pump stations to the Phase III Expansion could increase capacity from 420 mbpd to approximately 680 mbpd for an aggregate capacity on the Peace and Northern systems of approximately 1,200 mbpd.

Gas Services

During the second quarter of 2015, Pembina continued to advance its growth projects within the Gas Services business.

Plant site construction is over 90 percent complete at the Company’s Saskatchewan Ethane Extraction Plant (“SEEP”). The project is currently under budget and on schedule and is expected to be in-service by the end ofAugust 2015.

Construction of Pembina’s Saturn II Facility, a 200 million cubic feet per day (“MMcf/d”) ‘twin’ of the Company’s Saturn I Facility (“Saturn II”), is expected to be commissioned and placed into service on schedule by the end ofAugust 2015 and is anticipated to be completed under budget. To-date, the Company has completed approximately 90 percent of site construction.

Pembina has ordered all major equipment for the 100 MMcf/d expansion of its Resthaven Facility (the “Resthaven Expansion”) and plant construction has now commenced. The gathering pipeline associated with the Resthaven Expansion is over 70 percent installed with all major river crossings completed. Pembina expects the gathering pipeline, which is underpinned by a cost-of-service agreement, to be in-service in September 2015 and the expansion of the Resthaven facility, which is underpinned by a fee-for-service agreement with a substantial take-or-pay component, to be in-service in mid-2016.

The Company’s 100 MMcf/d shallow cut facility, being built adjacent to Pembina’s existing Musreau I and Musreau II facilities (the “Musreau III Facility”), has received regulatory and environmental approvals. All major equipment has been ordered, 75 percent of project engineering is complete and plant site construction is now over 10 percent complete. Pembina anticipates bringing the Musreau III Facility, which is underpinned by long-term, take-or-pay agreements, on-stream in mid-2016.

Once the facilities under development described above are in-service, Pembina expects Gas Services’ processing capacity to reach 1.5 billion cubic feet per day (“bcf/d”) (net to Pembina), including ethane-plus extraction capacity of 870 MMcf/d (net to Pembina). The volumes from Pembina’s existing assets and those under development will be processed largely on a contracted, fee-for-service basis and could result in 70 mbpd of NGL, subject to gas compositions, and could be transported for additional toll revenue on Pembina’s Conventional Pipelines. Volumes from these projects support Pembina’s pipeline expansion plans as discussed under “Conventional Pipelines.”

Midstream

Pembina continues to progress construction of its second 73 mbpd ethane-plus fractionator (“RFS II”) at the Company’s Redwater site. All major equipment has been set on site, module fabrication is finished and site construction is currently 80 percent complete. Pembina anticipates RFS II will be on-stream in the first quarter of 2016.

Pembina is also advancing its third fractionator at Redwater (“RFS III”), which will have propane-plus capacity of 55 mbpd. RFS III has now received regulatory and environmental approval and over 75 percent of long lead items have been ordered. Pembina expects RFS III to be in-service in the third quarter of 2017 and, once complete,Pembina’s Redwater site will be the largest fractionation facility in Canada with a total of 210 mbpd of fractionation capacity.

On May 21, 2015, Pembina announced plans to provide terminalling services for the North West Redwater Partnership (“North West”) with respect to North West’s planned refinery (the “Sturgeon Refinery”) for an expected capital cost of $180 million. Underpinned by a 30-year fixed return agreement and a 10-year NGL mix purchase and sale agreement related to the Company’s third Redwater fractionator, the terminalling services include truck and rail loading, storage, as well as handling and processing equipment for a variety of products delivered from North West. Subject to regulatory and environmental approvals, the facilities are expected to be in-service mid-2017.

Site preparation at the Company’s proposed Canadian Diluent Hub (“CDH”) is on-going. Subject to further regulatory and environmental approvals, Pembina anticipates phasing in additional connections to various condensate delivery systems with a view to achieving full connectivity and service offerings at CDH in mid-2017.

At its Edmonton North Terminal (“ENT”), Pembina continues to advance construction of three new above ground storage tanks with a total working capacity of 550 mbbls. Hydrotesting of the tanks is now complete and internal and external coating work has begun. The project is on schedule to be in-service in mid-2016.

At its storage and terminalling facilities in Corunna, Ontario, Pembina is progressing a number of initiatives including the installation of a new brine pond, upgrades to its rail rack and construction of a new propane truck rack to meet increased demand for services. Detailed engineering and procurement of long-lead items are almost complete and ground work is now finished on the brine pond. The overall project is expected to be completed in early-2016.

During the second quarter, Pembina signed a long-term agreement with a third party for one of its in-development underground hydrocarbon storage caverns expected to be in service in early-2016.

Pembina continues to progress its proposed 37 mbpd west coast propane export terminal under an agreement to complete due diligence work at the Terminal 6 site of the Port of Portland, Oregon. Since the original project announcement in September 2014, Pembina’s project team has conducted consultation with community, regulatory and special interest groups; completed three public hearings; and significantly progressed detailed engineering design work to support a number of permit applications the Company expects to submit throughout late-2015 and early-2016. Pembina received an affirmative vote from the Portland Planning and Sustainability Commission to move the approval process to the Portland City Council. Pembina has been given no specific timeframe when the approval process will be considered by the Portland City Council.

Oil Sands and Heavy Oil

On June 4, 2015, Pembina announced that it will expand its existing Horizon Pipeline System (the “Horizon Expansion”), underpinned by a fixed return long-term agreement with Canadian Natural Resources Limited, for an estimated capital cost of $125 million. The Horizon Expansion will increase the pipeline’s capacity up to 250 mbpd, which will be achieved by upgrading mainline pump stations and other facility modifications, as required. Subject to regulatory and environmental approvals, the Horizon Expansion is expected to be in service mid-2016.

Financing Activity

On April 10, 2015, Pembina closed a $225 million offering of 9 million cumulative redeemable rate reset class A preferred shares, Series 9 (the “Series 9 Preferred Shares”) at a price of $25.00 per share. The Series 9 Preferred Shares began trading on the Toronto Stock Exchange on April 10, 2015 under the symbol PPL.PR.I.

On April 16, 2015, Pembina received commitments from its bank syndicate to increase the Company’s unsecured revolving credit facility (the “Facility”) to $2 billion and retained the accordion feature for an additional $750 millionat Pembina’s option. The Facility maturity date was also extended to May 31, 2020.

On June 16, 2015, Pembina closed an offering of $600 million of senior unsecured medium-term notes. The offering was conducted in two tranches: gross proceeds of $500 million in senior unsecured medium-term notes, Series 6, having a fixed coupon of 4.24 percent per annum, paid semi-annually, and which mature on June 15, 2027 and gross proceeds of $100 million through the re-opening of Pembina’s Series 3, 4.75 percent medium-term notes, which mature April 30, 2043.

Second Quarter 2015 Conference Call & Webcast

Pembina will host a conference call on Friday, August 7, 2015 at 8:00 a.m. MT (10:00 a.m. ET) for interested investors, analysts, brokers and media representatives to discuss details related to the second quarter of 2015. The conference call dial-in numbers for Canada and the U.S. are 647-427-7450 or 888-231-8191. A recording of the conference call will be available for replay until August 14, 2015 at 11:59 p.m. ET. To access the replay, please dial either 416-849-0833 or 855-859-2056 and enter the password 45394754.

A live webcast of the conference call can be accessed on Pembina’s website at www.pembina.com under Investor Centre, Presentation & Events, or by entering: http://event.on24.com/r.htm?e=908220&s=1&k=F8FA38CC83BBCBF2047A6E53490F41EE in your web browser. Shortly after the call, an audio archive will be posted on the website for a minimum of 90 days.

About Pembina

Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America’s energy industry for over 60 years. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and NGL produced in western Canada and ethane produced in North Dakota. The Company also owns and operates gas gathering and processing facilities and an oil and NGL infrastructure and logistics business. With facilities strategically located in western Canada and in NGL markets in eastern Canada and the U.S., Pembina also offers a full spectrum of midstream and marketing services that spans across its operations. Pembina’s integrated assets and commercial operations enable it to offer services needed by the energy sector along the hydrocarbon value chain.

Forward-Looking Statements & Information

This document contains certain forward-looking statements and information (collectively, “forward-looking statements”) that are based on Pembina’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as “schedule”, “will”, “expects”, “plans”, “anticipates”, “intends”, “should”, “anticipates”, “estimates”, “could” and similar expressions suggesting future events or future performance.

In particular, this document contains forward-looking statements, including certain financial outlooks, pertaining to, without limitation, the following: Pembina’s corporate strategy; future dividends which may be declared onPembina’s common shares and the dividend payment date; planning, construction, capital expenditure estimates, schedules, expected capacity, incremental volumes, in-service dates, rights, activities and operations with respect to planned new construction of, or expansions on existing, pipelines, gas services facilities, fractionation facilities, terminalling, storage and hub facilities; pipeline, processing, fractionation and storage facility and system operations and throughput levels; Pembina’s strategy and the development and expected timing of new business initiatives and growth opportunities and the impact thereof; anticipated synergies between newly acquired assets, assets under development and existing assets of the Company; processing, transportation, fractionation, storage and services commitments and contracts; the impact of share price on annual share-based incentive expense; the impact of the current commodity price environment on Pembina; and, the anticipated use of proceeds from financing.

The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things: oil and gas industry exploration and development activity levels and the geographic region of such activity; the success of Pembina’s operations and growth projects; prevailing commodity prices and exchange rates and the ability of Pembina to maintain current credit ratings; the availability of capital to fund future capital requirements relating to existing assets and projects; expectations regarding participation in Pembina’s dividend reinvestment plan; future operating costs; geotechnical and integrity costs; that any third party projects relating to Pembina’s growth projects will be sanctioned and completed as expected; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; that counterparties will comply with contracts in a timely manner; that there are no unforeseen events preventing the performance of contracts or the completion of the relevant facilities; that there are no unforeseen material costs relating to the facilities which are not recoverable from customers; interest and tax rates; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; the amount of future liabilities relating to environmental incidents; and the availability of coverage under Pembina’s insurance policies (including in respect of Pembina’s business interruption insurance policy).

Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the regulatory environment and decisions; the impact of competitive entities and pricing; labour and material shortages; reliance on key relationships and agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities including changes in tax laws and treatment, changes in royalty rates or increased environmental regulation; fluctuations in operating results; adverse general economic and market conditions inCanada, North America and elsewhere, including changes in interest rates, foreign currency exchange rates and commodity prices; and certain other risks detailed from time to time in Pembina’s public disclosure documents available at www.sedar.com. This list of risk factors should not be construed as exhaustive.

Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this document speak only as of the date of this document. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. The purpose of the financial outlook contained herein is to give the reader an indication of the expected impact of current growth projects on Pembina’s future financial performance. Readers should be aware that the financial outlook contained herein may not be appropriate for other purposes.

Non-GAAP and Additional GAAP Measures

In this news release, Pembina has used the terms net revenue, operating margin, earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted cash flow from operating activities, cash flow from operating activities per common share and adjusted cash flow from operating activities per common share. Since Non-GAAP and Additional GAAP financial measures do not have a standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies, securities regulations require that Non-GAAP and Additional GAAP financial measures are clearly defined, qualified and reconciled to their nearest GAAP measure. Except as otherwise indicated, these Non-GAAP and Additional GAAP measures are calculated and disclosed on a consistent basis from period to period. Specific adjusting items may only be relevant in certain periods. The intent of Non-GAAP and Additional GAAP measures is to provide additional useful information to investors and analysts and the measures do not have any standardized meaning under IFRS. The measures should not, therefore, be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS. Other issuers may calculate the Non-GAAP and Additional GAAP measures differently. Investors should be cautioned that these measures should not be construed as alternatives to net earnings, cash flow from operating activities or other measures of financial results determined in accordance with GAAP as an indicator of Pembina’s performance. For additional information regarding non-GAAP and additional GAAP measures, including reconciliations to measures recognized by GAAP, please refer to the MD&A, which is available on SEDAR at www.sedar.com.

Contact: Investor Relations: Scott Burrows, Vice President, Finance & Chief Financial Officer, (403) 231-3156, 1-855-880-7404, e-mail: investor-relations@pembina.com, www.pembina.com

Source: Pembina Pipeline Corporation

Related stocks: NYSE:PBA Toronto:PPL

Related Links:

Written by asiafreshnews

August 10, 2015 at 11:52 am

Posted in Uncategorized