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Archive for June 2016

Hortonworks Names Microsoft Azure HDInsight as Its Premier Connected Data Platforms Cloud Solution

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-Microsoft Celebrates 10 Years of Hadoop as Innovation Sponsor

SANTA CLARA, Calif. and SAN JOSE, Calif /PRNewswire/ — (Hadoop Summit) — Hortonworks, Inc. ® (NASDAQ: HDP) today announced Microsoft Azure HDInsight as its Premier Connected Data Platforms cloud solution to give customers Apache™ Hadoop® in cloud environments. The two companies have been pioneering cloud solutions for the past four years together through a strategic partnership spanning joint engineering and go-to-market motions, giving customers the most flexible big data environments.  Microsoft is the leading sponsor of Hadoop Summit 2016 with the first ever Innovation Level sponsorship, and together the two companies are celebrating the 10th anniversary of Hadoop at the event.

Logo – http://photos.prnewswire.com/prnh/20140227/SF73721LOGO

Today’s modern organizations are embracing a cloud-first approach for deployment and management of data workloads. The Forrester Wave™: Big Data Hadoop Cloud Solutions, Q2 2016 report calls out that “enterprises of all types and sizes are increasingly embracing the cloud as an important catapult for their business technology agenda.” Microsoft received the highest score for current offering and strategy in this report.

“Hortonworks and Microsoft jointly believe that in today’s hyper connected world, next generation architectures need to address data in all forms and in any environment to drive real-time insights,” said Rob Bearden, chief executive officer, Hortonworks.  “Azure HDInsight as our Premier Connected Data Platforms cloud solution gives customers flexibility to future proof their architecture as more workloads move to the cloud.”

“Microsoft and Hortonworks have been strong partners on cloud solutions for Big Data and we work jointly on several open source enhancements. For example, we recently enhanced the YARN resource manager to run concurrent applications on Spark at scale,” said Joseph Sirosh, corporate vice president of data group, Microsoft. “Our strategic partnership with Hortonworks continues to give joint customers powerful solutions to deploy Hadoop and Spark in the cloud with ease.”

The Premier Connected Data Platforms Cloud Solution

Connected Data Platforms deliver actionable intelligence to customers by combining data-in-motion and data-at-rest to power modern data applications. Azure HDInsight, Hortonworks’ Premier Connected Data Platforms cloud solution, delivers Hadoop and Spark powered by Hortonworks Data Platform (HDP®).

Recent updates to Azure HDInsight, built on HDP, include:

  • Enterprise Spark at Scale:  Spark for Azure HDInsight is generally available now and includes a secure, scalable and enterprise-ready Spark implementation.
  • R Server for HDInsight in the cloud powered by Spark makes the Spark integration available both on-premises and in the cloud, and will be generally available this summer.

Customers can try Azure HDInsight today. For more information about Azure HDInsight, please visitwww.hortonworks.com/products/cloud/azure

About Hortonworks

Hortonworks, HDP and HDF are registered trademarks or trademarks of Hortonworks, Inc. and its subsidiaries inthe United States and other jurisdictions. For more information, please visit www.hortonworks.com. All other trademarks are the property of their respective owners.

Hortonworks Contact
Michelle Lazzar
+1-408-828-9681
comms@hortonworks.com

Source: Hortonworks, Inc.

Related stocks: NASDAQ-NMS:HDP

Written by asiafreshnews

June 30, 2016 at 5:54 pm

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Chubb announces new Environmental Risk Underwriter for Asia

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SINGAPORE /PRNewswire/ — Chubb announced today the appointment of Oliver McCauley as the Environmental Risk Underwriter for Asia. Mr. McCauley will report to Kane Bennett, Regional Manager, Asia Pacific & Far East – Environmental Risk for Chubb in Asia Pacific.

Based in Hong Kong, Mr. McCauley will drive the profitability and strategic direction of the Environmental Risk portfolio across Asia. His responsibilities include providing responsive, accurate and efficient underwriting expertise to the Asian markets as well as implementing broad market strategies tailored for each country.

Prior to his appointment, Mr. McCauley was the Environmental Risk Underwriter for Australia and New Zealand, having contributed to the business both locally as well as for other markets in Asia.

Before joining Chubb, he spent four years as an Environmental Consultant with a specialist contaminated land consultancy in Sydney. During this period, he was exposed to a wide range of contaminated land scenarios across Australia. The experience enabled him to gain a deep understanding of the behaviors of certain contaminants and the potential interaction with receiving environments and populations.

Mr. McCauley holds a Bachelor’s Degree in Environmental Engineering from the University of New South Wales, Australia.

On this new appointment, Mr. Bennett said, “The environmental risk markets in Asia have seen tremendous growth as economies mature in the region. Against this backdrop, we saw the need to appoint a specialist resource to help us drive the development of our Environmental Risk portfolio in Asia. With his strong industry experience, Oliver’s appointment will stand us in good stead to consolidate our position as one of the leading underwriters for environmental risks in the region.”

About the New Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.new.chubb.com.

Logo – http://photos.prnewswire.com/prnh/20160124/325256LOGO

Source: Chubb

Related stocks: NYSE:CB

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June 30, 2016 at 5:46 pm

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Telkomsel Selects Xura’s Spam Shield for Advanced SMS Spam Detection and Filtering

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WAKEFIELD, Massachusetts /PRNewswire/ —

Advanced message filtering detects up to eight times more spam related SMS messages than before to better protect customers from spam and fraud

Today Xura, Inc. (NASDAQ: MESG), a leading provider of digital communications services, announced that it is working with Telkomsel, the market leading provider of telecommunications services in Indonesia, to help protect the operator’s more than 153 million subscribers from SMS spam. Telkomsel selected Xura’s Spam Shield to control messaging in their network, to automatically detect unsolicited messaging campaigns and block unwanted messages protecting subscribers from the majority of threats with dynamic detection techniques.

There is an increasing and ever-changing flood of spam and fraud traffic that has proven difficult for many operators to detect and control. With only basic SMS filtering systems in place, 30% of spam messages were previously going undetected on the Telkomsel network, and a more advanced detection capability for unsolicited messages was critical to bring this figure down.

Spam Shield provides spam detection and dynamic policy control, with a learning process that continually adjusts to the constantly changing threat posed by spam to subscribers and operators’ brand and reputation. This learning process results in an ever improving and effective solution that evolves in real-time – as do the characteristics of spam – modifying spam filters and policy control as appropriate.

Xura already had a strong relationship with Telkomsel, having installed SMSC and MMSC’s for the operator in the past, as well as providing award winning, innovative, revenue generating services such as network initiated Collect SMS. Spam Shield with grey route management was selected following a successful Proof of Concept for its ability to cover both mobile originated and mobile terminated spam protection nationwide, with a highly scalable solution.

Telkomsel’s Vice President of IT VAS and Corporate Service Solution and Management, Asep Y Septiana, said: “Spam Shield has reduced the effort and human intervention previously required to operate and manage the filtering, because there is no need to manually configure filtering rules. This makes it easier for Telkomsel to protect subscribers, as well as ensure the timely delivery of critical messaging services, such as PIN notifications, while correctly monetizing commercial use of messaging. Spam Shield’s ability to filter out grey route messaging enables us to sell SMS advertising via the appropriate channels, and monetize OTT related messages through the correct wholesale channels. This not only opens up new revenue streams for us, but also provides subscribers with a better overall experience and greater satisfaction.”

“With Xura’s Spam Shield, Telkomsel has been able to implement advanced message filtering that can detect up to eight times more spam-related messages than traditional filtering techniques available on the market, including spam received via IP / OTT messaging services also. It provides the flexibility needed to separate false positive spam messages, offering automatic SMS campaign detection and spam blocking based on the system’s heuristic algorithm needed to combat dynamic spam threats,” said David Khoo, SVP & Managing Director for APAC at Xura. “All of this can be viewed and tracked via our spam reporting tool, Xura Analytics, so Telkomsel are able to analyze and act as needed, and in real-time.”

Telkomsel are also utilizing Xura Analytics, which provides a flexible GUI, for reporting and analysis. Spam Shield went live on Telkomsel’s network in May this year – inside a four month deployment schedule, providing nationwide coverage for Telkomsel’s 153 million prepaid and post-paid subscribers.

To find out more about Xura’s network security products including Spam Shield and Signaling Fraud Management, please visit http://www.xura.com or email: contactxura@xura.com.

About Xura, Inc.

Xura, Inc (NASDAQ: MESG) offers a portfolio of digital services solutions that enable global communications across a variety of mobile devices and platforms. We help communication service providers (CSPs) and enterprises navigate and monetise the digital ecosystem to create innovative, new experiences through our cloud-based offerings. Our solutions touch more than three billion people through 350+ service providers and enterprises in 140+ countries.  You can find us at Xura.com.

About Telkomsel (http://www.telkomsel.com)
Telkomsel is Indonesia’s largest mobile operator with more than 153 million subscribers. To serve customers all over Indonesia, including in remote areas, outer islands and border areas, Telkomsel has built more than 116,000 BTSs. Telkomsel has consistently implemented technology roadmaps of 3G, HSDPA, HSPA +, as well as being the first mobile operator in Indonesia to commercially launch 4G LTE services. To serve the needs of customers, Telkomsel operates a 24-hour call center and more than 400 GraPARI service centers across Indonesia.

Forward-Looking Statements

This press release includes “forward-looking statements.” Forward-looking statements include statements of plans and objectives for future operations, statements of future economic performance, and statements of assumptions relating thereto. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “expects,” “plans,” “anticipates,” “estimates,” “believes,” “potential,” “projects,” “forecasts,” “intends,” or the negative thereof or other comparable terminology. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance and the timing of events to differ materially from those anticipated, expressed or implied by the forward-looking statements in this press release. These risks and uncertainties discussed above, as well as others, are discussed in greater detail in our filings with the SEC. The documents and reports we file with the SEC are available through us, or our website, http://www.Xura.com, or through the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) at http://www.sec.gov.

Source: Xura, Inc.

Related stocks: NASDAQ-NMS:MESG

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Written by asiafreshnews

June 30, 2016 at 5:43 pm

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SWIFT Enriches Know Your Customer Registry Information with New KYC Adverse Media Service

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-Partnership with Dow Jones provides KYC Registry users with unlimited access to news and regulator content

HONG KONG /PRNewswire/ — SWIFT announces the launch of KYC Adverse Media, a news service integrated into its KYC Registry, a centralised repository that maintains a standardised set of information about financial institutions required for KYC compliance. In partnership with Dow Jones, SWIFT  will now make high-quality Dow Jones Risk & Compliance data available to the more than 2,500 correspondent banks and funds players that are already using The KYC Registry as part of their know your customer compliance programmes.

Financial institutions are increasingly being expected by regulators to use ‘negative news’ coverage as part of a risk-based approach to customer due diligence for financial crime compliance. The KYC Adverse Media service provides Registry users with access to this type of curated content from more than 32,000 news publications worldwide, as well as regulatory notifications. The new service complements banks’ self-reported, SWIFT-verified KYC data and documents with high-quality news content dating back to 2012. Articles are linked directly to the relevant legal entities in the KYC Registry, enabling users to view at a glance what news coverage, if any, is available for each Registry member.

Bart Claeys, Head of KYC Compliance Services, SWIFT, says: “KYC compliance is increasingly complex, with many banks being expected to review negative news and regulatory notices as part of their customer due diligence processes. SWIFT is pleased to partner with Dow Jones to provide every KYC Registry user with unlimited access to high-quality, up-to-date news and regulatory content. The addition of KYC Adverse Media is the next step in our strategic roadmap to deliver cost-effective, community inspired financial crime compliance services that help our members optimise the effectiveness and efficiency of their compliance programmes.”

Dow Jones’ Adverse Media data includes information covering companies from every country in the world that have received negative news coverage for regulatory, competitive, financial, production, environmental, and social or labour related issues. Researchers enrich listings with additional detail, such as names in the native language script and corporate identifiers, as well as cross-references to people associated with such companies, to ensure that data is as accurate and complete as possible.

UBI Banca was one of several KYC Registry members to pilot the KYC Adverse Media service. Marco Ligonzo, Head of Know Your Customer Due Diligence – Correspondent Banking, at UBI Banca, says: “KYC Adverse Media nicely complements the information in The KYC Registry, delivers excellent value for money, and provides a valuable resource for anyone performing customer due diligence on another financial institution. The ability for banks to access this information through The KYC Registry helps to increase efficiency and transparency, and supports compliance with regulatory expectations. We greatly appreciate being one of the very first banks to use this valuable new service.”

The searchable database also provides access to news content about banks that have not yet joined the Registry. In addition, although banks retain full control over which Registry members can view their official KYC data and documentation, KYC Adverse Media content is open to all KYC Registry users for optimal transparency.

“Dow Jones Risk and Compliance and the KYC Registry are a natural fit, and we are confident this partnership will deliver significant value to the banking community” said Joel Lange, Managing Director at Dow Jones Risk and Compliance. “As regulation grows ever more complex, global banks have to trust in the quality and completeness of data used for KYC decision-making. Working with our Adverse Media data will give KYC Registry users unique access to structured profiles covering 17 negative news topics that matter to global banks.”

The KYC Adverse Media service is available now, with a range of service enhancements to follow later in 2016. These will include giving banks the option of attaching their official statements to KYC Adverse Media content about their institution, further increasing transparency and ease of use related to KYC compliance and customer due diligence activities.

About SWIFT’s financial crime compliance services portfolio

SWIFT’s Compliance Services unit manages a growing portfolio of financial crime compliance services in the areas of sanctions, Know Your Customer (KYC) and Anti-Money Laundering (AML). The portfolio includes Sanctions Screening and Sanctions Testing services, Compliance Analytics and The KYC Registry. For more information, visit www.swift.com/complianceservices.

About SWIFT

SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services.

We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and financial crime compliance.

Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way.

As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies.

Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.

For more information, visit www.swift.com or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT

CONTACT:
Cognito
+44-20-7426-9400
swift@cognitomedia.com

Logo – http://photos.prnasia.com/prnh/20160127/8521600559Logo

Source: SWIFT

Written by asiafreshnews

June 30, 2016 at 3:00 pm

Posted in Uncategorized

JNA Awards reveals 2016 Honourees

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HONG KONG /PRNewswire/ — JNA (Jewellery News Asia), organiser of the prestigious JNA Awards, announces the list of Honourees/finalists across 10 categories at a press conference today held on the sidelines of the June Hong Kong Jewellery & Gem Fair.

The JNA Awards, now in its fifth year, is a premier awards programme that recognises and celebrates excellence and achievement in the jewellery and gemstone industry, with a focus on the advancement of the trade in Asia.

This year, 39 Honourees representing 28 companies from 10 countries/regions, namely Mainland China, Hong Kong, India, Malaysia, Singapore, Switzerland, Taiwan, Thailand, the United Arab Emirates and Vietnam, were selected. A third of these finalists were either first-time entrants or Honourees.

Written by asiafreshnews

June 30, 2016 at 10:55 am

Posted in Uncategorized

Wynn Macau Ltd. Announces Wynn Palace Grand Opening Date

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MACAU /PRNewswire/ — Wynn Macau, Limited announced today that it will open its new resort, Wynn Palace, in the Cotai area of Macau on August 22, 2016.

The company expects that the opening of Wynn Palace will help launch a new era of prosperity for Macau, attracting more international tourists to the city and further supporting its development as a world center of tourism and leisure.

Wynn Palace is now accepting room reservations, which can be made online via www.wynnpalace.com, via email at roomreservations@wynnpalace.com or by calling the phone numbers below:

Wynn Palace Room Reservations
Tel: +853 8889 3888
Hong Kong Toll Free: 800 961 198

Source: Wynn Macau, Limited

Written by asiafreshnews

June 29, 2016 at 5:59 pm

Posted in Uncategorized

Gifts Fit for Royalty – Online Luxury Gift Marketplace Launches in Japan

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TOKYO /PRNewswire/ — Gifts Less Ordinary, a luxury online marketplace offering unique and personalised gifts which has been making its mark in Hong Kong and Singapore, launches in Japan today.

Prince George was spotted wearing a personalized dressing gown from My 1st Years while meeting President Obama. (The White House/Getty Images Entertainment/Getty Images)
Prince George was spotted wearing a personalized dressing gown from My 1st Years while meeting President Obama. (The White House/Getty Images Entertainment/Getty Images)

More than just another online gift shop, Gifts Less Ordinary has managed to artfully curate, and fuse together, the best of British with the inimitable oriental charm of Asia. Brands stocked on the site include:

  • My 1st Years, a British brand whose products hit the headlines earlier this year when Prince George was spotted wearing one of their personalised dressing gowns whilst meeting President Obama.
  • Merci Maman, a UK brand with French roots, whose personalised Duchess Necklace is worn by HRH, the Duchess of Cambridge, engraved with Prince George’s name.
  • Halcyon Days, a UK historical brand, whose enamel bangles and trinket boxes are favoured by celebrities and Royalty alike. Halcyon Days is also one of only fourteen companies in the world to hold all three Royal Warrants.

Amy Read, Founder of Gifts Less Ordinary says: ” We’ve seen such great success in Singapore and Hong Kong, that it’s only natural to take things further and launch these amazing brands in Japan.”

What sets Gifts Less Ordinary apart is their curation of the most unique brands with the highest quality products, for those who are in search of gifts that will be treasured, and definitely won’t be re-gifted. Taking gifting to a whole new level with ultra personalisation services — from picking the metals and gems of your necklace, through to a monogram initial on a wine bottle topper. Gifts Less Ordinary are also particular about ensuring there are no unwelcome surprises at check out — the price advertised is the price you pay.

Whether you are shopping for the man that has everything, a colleague moving to new pastures or your newborn nephew with an incredibly hipster name, Gifts Less Ordinary is packed with inspirational ideas to help you choose that perfect gift.

For further information, please visit: giftslessordinary.com/jp
For all media enquiries or images, contact info@giftslessordinary.com

CONTACT:

Amy Read
+65 9627 3808

Photo – http://photos.prnasia.com/prnh/20160627/8521604190

Source: Gifts Less Ordinary

Written by asiafreshnews

June 29, 2016 at 5:51 pm

Posted in Uncategorized

TUV Rheinland Japan Announces Japan’s First Ever Testing and Certification Services for Vehicle Mounted Camera-Monitor Systems to Start on July 11

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YOKOHAMA, Japan /PRNewswire/ — Responding to the amendments to UN Regulation UN-R46 04 series, which took effect on June 18, 2016, TUV Rheinland Japan Ltd. announced that it is to begin offeringtesting and certification services for onboard camera-monitor systems from July 11. The services will be the first testing and certification services for onboard camera-monitor systems to be provided by a third-party certification body in Japan based on the amendments being made to UN-R46 04 series.

UN-R46 is a set of regulations based on an international agreement, covering indirect vision devices for road vehicles. The most significant change accompanying the amendments is the possibility now of manufacturing mirrorless cars. In Europe, CMS has been conditionally permitted in place of mirrors, such as for the front of vehicles, whereas in Japan it was not permitted at all. With the adoption of UN-R46, it will become possible to equip vehicles with CMS in place of conventional mirrors in Japan.

Currently automotive manufacturers are actively developing autonomous driving systems. Because CMS features not only providing rear vision but also monitoring vehicle surrounding conditions that form the basis for these technologies, major advances are expected to take place in this market in the future.

To cater to the anticipated increase in demand, TUV Rheinland Japan has made the decision to launch new CMS-oriented services. With experience in testing camera-monitor devices for medical applications, it is capable of carrying out all of the tests needed to meet the requirements for CMS. With these new services, TUV Rheinland Japan will perform approximately 20 test items, including tests regarding the capabilities of the systems to function as human vision and tests concerning display speed.

There is a possibility that CMS displays will go off or become hard to view due to electromagnetic interference or software bugs. Utilizing its experience and competence with EMC testing of various components and ISO 26262 (Automotive Functional Safety) consulting, TUV Rheinland Japan will be providing technical assessments with regard to these issues.

Kazushi Arima, General Manager, Mobility at TUV Rheinland Japan said, “We are proud to make a timely launch of the testing and certification services for camera-monitor systems (CMS) to both vehicle OEM manufacturers and Tier-1 suppliers. The amendments of UN-R46 introducing CMS is a great step forward in automotive technology, not only for driving safety but also for reducing CO2 emissions with smaller air drag coefficient. We will continue to support the development of CMS and its introduction to the market.”

About TUV Rheinland

TUV Rheinland is a global leader in independent inspection services, founded 140 years ago. The group employs 19,600 people around the globe. Annual turnover is nearly EUR1.9 billion. The independent experts stand for quality and safety for people, technology, and the environment in nearly all aspects of life. TUV Rheinland inspects technical equipment, products and services, and oversees projects and processes for companies. Its experts train people in a wide range of careers and industries. To this end, the company operates a global network of approved labs, testing and education centers. Since 2006, TUV Rheinland has been a member of the United Nations Global Compact to promote sustainability and combat corruption. www.tuv.com

Source: TUV Rheinland Singapore Pte Ltd
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June 29, 2016 at 5:17 pm

Posted in Uncategorized

It’s A Hostel, It’s A Hotel… It’s Lub d Phuket Patong

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PHUKET, Thailand /PRNewswire/ — Lub d Phuket Patong hits Phuket, a fantastic destination inThailand, with undoubtably the most creative and unique hostel & hotel experience on July 19, 2016. Located in the heart of Patong beach, it’s just a 3 minute walk to the beachfront and five to Bangla road. True to our name, guests will have a good sleep with comfy beds, a charging station and large lockers in the dorm rooms. Junior or Deluxe rooms offer more privacy with an en-suite bathroom and a relaxing hammock on the Deluxe balcony.

Welcome to Lub d Phuket Patong…the New Era of Hostels
Welcome to Lub d Phuket Patong…the New Era of Hostels

Guests are welcomed by our hosts who are our neighbourhood scouts. Ask them about their favourite off-the-beaten-track beaches, local hangouts, and their favourite eats.

Looking for worry-free travel around Phuket? Our tour desk with STA @ Lub d can provide complete guided tours to top-rated activities such as walking tours, full moon parties, island hopping, and snorkeling.

Rock your night at Rock Salt @ Lub d – Start your night with pre-party drinks designed by our mixologist from our bar and grab our street food-inspired snacks to satisfy your cravings. Our restaurant features a DIY all-day breakfast menu any time you want it.

Beat the post-party effects with a good work out session. Sweat it out with our Thai boxing class at our full size boxing ring in our lobby. Try renting out one of our mountain bikes, or join our activities organised by Lub d team.

We have partnered with Garage Society, Hong Kong to provide you with the best co-working space, so you can continue to build your empire while you travel. With our super fast wifi, with speeds up to 100MB, and meeting room, you can be sure that you’ll stay connected and be able to take care of business.

Experience our cool-down room, see-through swimming pool, shower room, and get a cup of coffee roasted locally in Phuket. There are also 24-hour self service laundry facilities, & a dedicated games area. Share your travel tips and favourite places you have visited in our Lub d Story Box.

Lub d Phuket Patong is original, exciting & unique. With fantastic opening room rates, the time to book is now. Experience the difference today at Lub d Phuket where we understand today’s new generation traveller. Rates from $28.40 USD room / night for a private room and just $12.78 USD bed /night for a dormitory until July 31, 2016.

Contact:

Lub d Phuket Patong
Tel +66 26357373 ext.514
Email: contact.patong@lubd.com
Website: http://lubd.com/patong
Facebook: LubdHostel

Photo – http://photos.prnasia.com/prnh/20160627/8521604195

 

Source: Lub d Phuket Patong
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June 29, 2016 at 5:10 pm

Posted in Uncategorized

Golden Meditech Announces FY2015/2016 Annual Results

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-Continuing Operations Remained Solid and Expected to Enhance Overall Competitiveness
-Sales of Discontinuing Operation to Bring Significant Return and Diversify Investment Opportunity

HONG KONG /PRNewswire/ —

For the Year Ended 31 March

Change

%

2016

2015

Continuing Operations

Revenue

281,558

269,582

4.4

Hospital Management Service Income

59,688

63,442

(5.9)

Medical Insurance Administration Service Income

5,932

5,845

1.5

Medical Devices and Accessories Sales

210,670

194,406

8.4

Chinese Herbal Medicines Sales

5,268

5,889

(10.6)

Gross profit

129,068

129,344

(0.2)

Loss before interest, taxes, depreciation and amortisation

(181,401)

(694,798)

(73.9)

Loss attributable to the Company’s equity shareholders

(405,561)

(863,747)

(53.0)

Basic loss per share (in HK cents)

(17.2)

(49.6)

(65.3)

Golden Meditech Holdings Limited (SEHK stock code: 00801, TWSE stock code: 910801) (“Golden Meditech” or the “Company”, together with its subsidiaries, the “Group”), a leading integrated healthcare enterprise in China, announces today its annual results for the year ended 31 March 2016 (the “Year”).

During the Year, the results from continuing operations were in line with management’s expectations. The Group’s total revenue from continuing operations increased by 4.4% year-on-year to HK$281,558,000, which was mainly driven by the medical devices segment.

Mr. Kam Yuen, Chairman and Chief Executive Officer of the Group, said, “The healthcare services market is growing rapidly in China due to the increasing aging population, the improving living standard in rural areas and the growing income as well as health awareness. Private healthcare enterprises are well positioned to benefit from the deepening of Chinese healthcare reforms, in terms of relatively relaxing and optimising policies. As a leading integrated healthcare enterprise in China, we endeavor to enhance our operating excellence and efficiency by tapping on the potential of each of our business segment, with the view to improve operating performance. In addition, we are committed to integrate our existing resources to ready us for the opportunity arising from the development of bio-medicine and high performance medical device industry. Our strategy is identifying opportunities to invest in the enormous healthcare market. Likewise, our Group will actively explore growth potentials arising from the healthcare value chain in order to create values for our shareholders.”

Over the past few years, the Group decided to suspend several potential acquisition opportunities after considering the execution and commercialisation risks of various target projects. The maturing cord blood storage services have gradually gained recognition from international market as well as consumers in China. Consequently, the Company submitted a non-binding privatisation proposal to the board of directors of China Cord Blood Corporation (“CCBC”) (the “Proposed Privatisation”) in April 2015. The Group desired to increase its exposure in the cord blood storage sector in China. This has been achieved through the acquisitions of all of the 7% senior convertible notes issued by CCBC (the “CCBC CN”) and certain number of ordinary shares of CCBC between May 2015 and January 2016. Through the financing from open offer and issuance of promissory notes, the Group paid a total consideration of approximately US$334,454,000 (equivalent to approximatelyHK$2,608,741,000) for the above-mentioned acquisitions. Accordingly, assuming all the CCBC CN were fully converted, the equity interest in CCBC held by the Company would reach 65.4%.

During the process of the Proposed Privatisation, the Group was approached by Nanjing Xinjiekou Department Store Co., Ltd. (“Nanjing Xinjiekou”) in respect of the disposal of its 65.4% fully diluted equity interest in CCBC. In light of meeting Nanjing Xinjiekou’s ultimate goal of holding the entire equity interest in CCBC, the Company and Nanjing Xinjiekou further negotiated and agreed that the Company would procure and facilitate the completion of the Proposed Privatisation. In January 2016, the Company entered into a conditional sale and purchase agreement with Nanjing Xinjiekou regarding the disposal of its 65.4% fully diluted equity interest in CCBC to Nanjing Xinjiekou for a total consideration of approximately RMB5,764,000,000 (equivalent to approximatelyHK$6,917,000,000) (the “Proposed Disposal”). In return, Nanjing Xinjiekou intends to issue 134,336,378 shares to the Group together with a cash payment of approximately RMB3,264,000,000 (equivalent to approximatelyHK$3,917,000,000). At the same time, the Company also entered into another conditional sale and purchase agreement with Nanjing Xinjiekou, pursuant to which the Group agrees to sell the remaining 34.6% fully diluted equity interest of CCBC to be obtained to Nanjing Xinjiekou, if the Proposed Privatisation is completed, for a total consideration of approximately US$267,076,000 (equivalent to approximately HK$2,083,000,000).

“The Proposed Disposal would bring significant return to the Group,” continued Mr. Kam Yuen. “It represents a lucrative opportunity to the Group to realise its investment in the cord blood storage business. Besides, we also consider that having equity interest in Nanjing Xinjiekou would provide an opportunity for the Group to invest in the ‘Modern Department Store, Healthcare and Elderly Care’ businesses, which will diversify the Group’s investments and may bring a more lucrative return to shareholders.”

Loss attributable to the Company’s equity shareholders from continuing operations was HK$405,561,000, down 53.0% year-on-year. The decrease was mainly attributable to the absence of an one-off impairment provision. The Group recorded a non-cash provision of HK$759,934,000 in relation to its strategic investment in Fortress Group Limited (“Fortress”, a former associate of the Group) in FY2014/2015. No such expense was recorded in FY2015/2016.

Excluding the one-off impairment provision, loss attributable to the Company’s equity shareholders from continuing operations was approximately HK$244,213,000 in FY2014/2015, representing an increase ofHK$161,348,000 year-on-year. Increase was mainly due to: i) the recognition of interest expenses of approximately HK$86,063,000 following the issuance of promissory notes (proceeds was used to acquire additional equity interest in CCBC); ii) professional fees of approximately HK$40,159,000 incurred mainly in relation to the Proposed Privatisation and the Proposed Disposal. Any gain from such disposal will only be recognised once the transaction is completed; and iii) to compensate team members who contributed in various capital transactions up to this date, the Company decided to accrue approximately HK$33,771,000 as special performance bonus.

The board of directors of the Company (the “Board”) did not recommend the payment of a final dividend in respect of the year ended 31 March 2016 in light of the ongoing transaction with respect to the disposal of 65.4% equity interest in CCBC. The Group will receive a total cash and share consideration of RMB5.8 billion upon the completion of the Proposed Disposal. Accordingly, the Board will consider the dividend policy when it happens.

Continuing Operations

Healthcare Services Segment

During the Year, healthcare services revenue decreased by 5.3% year-on-year to HK$65,620,000, accounting for 23.3% of total revenue from continuing operations. Revenue generated from hospital management business and medical insurance administration business were HK$59,688,000 and HK$5,932,000 respectively, accounting for 91.0% and 9.0% of healthcare services revenue respectively.

Hospital Management Business. As Beijing Qinghe Hospital (“Qinghe Hospital”) obtained its license in late 2015, there was no revenue contribution and that affected the operating performance of Qinghe Hospital. Over the years, leveraging on its well-known brand and sound reputation, Shanghai East International Medical Center (“SEIMC”) had achieved a stable development and provided premium healthcare services to the affluent people in Shanghai and the surrounding neighbourhoods. During the Year, SEIMC continued to make revenue contribution to the hospital management business. The management believes the revenue, profit and cash flow of Qinghe Hospital will improve progressively once it is fully operational.

Medical Insurance Administration Business. The Group continued to devote resources to enhance its self-developed intellectualised claim administration system. This fully automated system enables the Group to gain market leadership in the insurance sector, and is widely recognised and accredited by the market and end users. The management expects that the Group will cooperate with more insurance companies once its self-developed medical insurance claim system attains full automation. As a result, the Group will be able to provide convenient and effective services, enhancing its operational efficiency as well as its profitability.

Medical Devices Segment

Medical devices revenue increased by 8.4% year-on-year to HK$210,670,000, accounting for 74.8% of total revenue from continuing operations. In view of the increased competition in the medical devices market, the Group proactively adjusted its marketing strategy and lowered Autologous Blood Recovery System selling price in order to stabilise the sales of medical device consumables. As a result, profit after tax from medical device segment increased marginally by 1.9% year-on-year to HK$43,964,000. With the deepening of the Group’s strategic transformation, the medical devices segment will synergise with the healthcare services segment and is expected to continue to be the corner stone contributor to the Group revenue.

Strategic Investments

During the Year, the Chinese herbal medicines business recorded an operating loss of HK$16,046,000. In April 2016, the Group received a possible land resumption request from the local government in Qingpu District ofShanghai and will work closely with the relevant departments regarding the land valuation. The Group expects to strengthen its cash position from future disposal of the land.

In FY2014/2015, the Company made a full impairment provision of HK$759,934,000 against Fortress. Currently, the Company is actively negotiating with the controlling shareholder of Fortress as well as relevant parties with a view to reach possible settlements and to maximise the recovery of the Group’s interest in Fortress. No definite agreements have been reached as of the date of this announcement.

The management determined to dispose of its non-healthcare related investments and received sales proceeds of HK$159,532,000 from such disposal, bringing an investment return of approximately HK$6,900,000 to the Company.

Cord Blood Storage Business – Discontinuing Operation

(HK$’000)

For the Year Ended 31 March

2016

2015

Cord Blood Storage Business – Discontinuing Operation

Revenue

812,944

800,555

Gross profit

635,261

635,538

Other income

81,549

26,752

Selling and administrative expenses

(399,989)

(338,675)

Impairment loss on available-for-sale equities securities

(10,474)

Profit from operations

306,347

323,615

Finance costs

(3,739)

(9,070)

Changes in fair value of financial liabilities at fair value through profit or loss

(597,170)

(263,976)

(Loss)/profit before tax

(294,562)

50,569

Income tax expense

(62,706)

(61,035)

Loss for the Year from discontinuing operation

(357,268)

(10,466)

The Company obtained shareholders’ approval for the Proposed Disposal on 15 June 2016. In this connection, the cord blood storage business has been classified as discontinuing operation. The Proposed Disposal is expected to be completed on or before 31 December 2016. Revenue from discontinuing operation wasHK$812,944,000, up 1.5% year-on-year. Loss for the Year from discontinuing operation was HK$357,268,000, which was mainly attributable to fair value changes on convertible notes issued by CCBC. Excluding fair value changes on convertible notes, profit for the Year was HK$239,902,000, compared to HK$253,510,000 the year before.

Outlook

Looking ahead, Mr. Kam commented, “Leveraging on our pioneer edge in the healthcare industry, the Group will not only explore viable opportunities and integrate resources along the healthcare value chain, but also optimise the allocation of the Group’s resources and diversify its healthcare services business. We believe these strategies will further consolidate the Group’s leading position in the integrated healthcare industry.”

About Golden Meditech Holdings Limited (SEHK stock code: 00801, TWSE stock code: 910801)

Golden Meditech (www.goldenmeditech.com) is a leading integrated-healthcare enterprise in China. It is a first-mover in China, having established its dominant positions in the medical devices market as well as the healthcare market, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, Golden Meditech will continue to pursue a leading position in China’shealthcare industry both through organic growth and strategic expansion.

SEGMENT RESULTS

Information regarding the Group’s reportable segments for the periods ended 31 March 2016 and 2015 is set out below:

(HK$’000 )

Continuing

Operations

Discontinuing
Operation

Total

Medical Devices

Hospital
Management

Medical Insurance
Administration

Chinese Herbal
Medicines

Cord Blood

Storage

2016

2015

2016

2015

2016

2015

2016

2015

2016

2015

2016

2015

Revenue from External
Customers

168,707

175,619

59,688

63,442

5,932

5,845

5,268

5,889

812,944

800,555

1,052,539

1,051,350

Inter-segment Revenue

41,963

18,787

41,963

18,787

Reportable Segment
Revenue

210,670

194,406

59,688

63,442

5,932

5,845

5,268

5,889

812,944

800,555

1,094,502

1,070,137

Reportable Segment
Profit/(Loss)

52,473

58,599

(137,910)

(110,844)

(37,359)

(33,243)

(16,046)

(32,107)

306,347

323,615

167,505

206,020

Depreciation and
Amortisation for
the year

8,440

8,560

60,535

49,200

10,305

11,070

21,139

22,101

62,940

64,976

163,359

155,907

Impairment Loss on
Trade receivables

95

45

894

421

495

24,830

31,562

26,314

32,028

Impairment Loss on
Property, Plant and
Equipment

2,884

2,884

Source: Golden Meditech Holdings Limited

Written by asiafreshnews

June 29, 2016 at 12:21 pm

Posted in Uncategorized