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Infoteria and Tech Bureau Complete World’s First Successful Demonstration Experiment of Private Blockchain in Account Data Recording for Microfinance

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— Operational Applicability Also Verified by Connecting Blockchain Mijin on Microsoft Azure Using ASTERIA WARP –

TOKYO /PRNewswire/ — Infoteria Corporation (TSE: 3853; hereinafter “Infoteria”) and Tech Bureau Corporation (hereinafter “Tech Bureau”) have successfully transferred loan and deposit account data in the main system of BC Finance, one of the largest microfinance institutions in Myanmar, to mijin (*1), the private blockchain (*2) placed on Microsoft Azure (*3) using ASTERIA WARP (*4) and mijin adapters (*5).

We hereby announce that this verifies that ASTERIA WARP and the private blockchain mijin are applicable in the operational process of microfinance and the private blockchain technology is applicable to account data recording. This is the world’s first (*6) demonstration experiment that used a private blockchain in microfinance.

Glossary: https://www.infoteria.com/jp/en/news/press/2016/07/11_01.php#1
Document: http://prw.kyodonews.jp/prwfile/release/M000359/201606241894/_prw_OA1fl_SyeV2n18.pdf

Process overview

We recorded all transaction history (account data) of active accounts at a branch of BC Finance (which operates a total of 19 branches in eight states) in the private blockchain mijin using ASTERIA WARP and mijin adapter. BC Finance assigned a total of three accounts, including one loan account and two savings accounts, to one customer.

Future plan

(1) We plan to carry out an experiment for concurrent and consecutive operations over a certain period of time. This is scheduled to begin in the first half of July and continue for approximately six weeks.

(2) We will consider developing an application that enables data writing and viewing from clients (terminals at each branch) to mijin.

Photo: http://prw.kyodonews.jp/prwfile/release/M000359/201606241894/_prw_OI1fl_GB14m59Z.jpg

Upcoming developments

The number of bank accounts in Myanmar is still limited to approximately two million for a population of more than 50 million, and bank services are available only to the affluent, who represent only a small portion of the population. Microfinance provides financial services such as loans and deposits to a broader segment of the population, and as such plays an important role in supporting Myanmar’s economic growth. Myanmar has achieved 7-8 percent economic growth since its democratization in the spring of 2011, and in the spring of 2016, the military government came to an end, encouraging the lifting of economic sanctions imposed by the U.S. Such factors are expected to facilitate further growth, and a significant increase in the number of BC Finance customers is expected.

While the current system means rising costs of data management as the number of users grows, the introduction of the blockchain technology enables the safe and low-cost operation of account data. We expect that this will facilitate the growth of the microfinance business.

Infoteria and Tech Bureau are focusing on the promotion and penetration of blockchain technology not only inJapan, but also overseas. The two companies plan to develop this alliance on a global scale by applying the results of this experiment to other countries.

Please check the following website for more information.

The endorsements of our partners & presidents:
https://www.infoteria.com/jp/en/news/press/2016/07/11_01.php#2

Corporate profile:
https://www.infoteria.com/jp/en/news/press/2016/07/11_01.php#3

Inforteria, Asteria and Handbook are registered trademarks of Infoteria Co. Product names in the text are trademarks or registered trademarks of their respective owners.

Source: Infoteria Co., Tech Bureau Co.

Related stocks: Tokyo:3853

Written by asiafreshnews

July 12, 2016 at 12:17 pm

Posted in Uncategorized

Helping Hand Group Wins Major Asian Award

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— Leading Fundraising and Charity Auction Services Win Asia Responsible Entrepreneurship Award 2016 —

SINGAPORE /PRNewswire/ — Helping Hand Group (HHG) has won the Asia Responsible Entrepreneurship Award 2016 (Small Medium Enterprise Corporate Social Responsibility category) with its program — Last Donor Standing. Company founder, Richard Ernster, accepted the award (24 June) at a ceremony held at the famous World Resorts Sentosa in Singapore. This is the first time HHG has been nominated and won this prestigious award.

Last Donor Standing (LDS) was developed by Helping Hand Group to create a new and fresh approach in the charity auction sector. It gets the whole room involved by having the auctioneer ask all guests to stay standing through rounds of bidding for an item and continually increasing the asking price until it sells. It also allows for more than one successful bidder if the item — such as a holiday — is available to be booked on several dates which in turn means the charity receives multiple donations.

Speaking on behalf of the group, CEO Adam Herodotus said he was delighted that HHG had been recognised for this prestigious award and hoped it would encourage other organisations to think outside the box when it comes to corporate social responsibility.

“All of our auctions aim to raise as much money for charity as possible,” he said. “Our clients have really embraced the concept of LDS and have added it to their events in addition to other fundraising activities — whether it be Ballot Bidding® or Live Auctions.”

HHG Management spent four months creating, developing and refining and then putting final touches on the implementation of Last Donor Standing. It was ensured that the project aligned perfectly with the core ideals of Helping Hand Group, in terms of no-cost to clients, ability to raise significant sums for Charity / CSR projects and finally, good financial outcomes for the business.

Adam Herodotus added that it was important to ensure that there were measurable targets and evaluation of Last Donor Standing. “We set targets on how many clients would take up the new format, how many guests would engage in the process and did the outcomes meet expectations for the client.”

The impact was substantial with LDS reinvigorating the charity auction market easily surpassing previous outcomes (from other fundraising methods) of one or two sales of a specific auction item. This became six, eight, or sometimes ten of each item selling, with each sale generating a donation for the Charity / CSR project.

Whilst the entire Helping Hand Group business is wholly focused on CSR and Charity, the innovation of Last Donor Standing aides plans for expansion, by opening the door to new businesses that may have become tired of the perceived ‘old methods’ of Live and Silent Auctions.

As Adam Herodotus explained, “The project continues unabated, with very high expectations. Within Helping Hand Group we are always developing other unique auction ideas all geared to the same objective – to raise as much money for charity as possible.”

For further information, visit www.helpinghand.com.au/lastdonorstanding or check out the video at https://youtu.be/Gd57fd-jTv0.

ABOUT HELPING HAND GROUP

Founded in 1997 in Sydney, Helping Hand Group has raised and donated over $85 million for leading charities, community groups, schools and sporting clubs, by providing memorabilia, artwork, fine wines, holidays and experiences for fundraising through silent or live auctions. It has operated auctions in 15 countries and has affiliations with nine offices across six countries. For more information, visit: www.helpinghand.com.au

Source: Helping Hand Group

Written by asiafreshnews

July 12, 2016 at 11:52 am

Posted in Uncategorized

$53.55 Million Settlement Affects Purchasers of Freight Forwarding Services Providing Domestic and International Shipping

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MINNEAPOLIS, Minn. /PRNewswire/ — The following is being released by the law firms of Gustafson Gluek PLLC; Cotchett, Pitre & McCarthy, LLP; Lockridge Grindal Nauen P.L.L.P.; and Lovell Stewart Halebian Jacobson LLP.

If individuals or companies used the services of certain freight forwarders, they may be entitled to a potentially significant cash payment from class action Settlements. Settlements have now been reached with the final two Defendants. Settlements were previously reached with 29 Defendants. A full list of all Defendants is available at the settlement website: www.FreightForwardCase.com.

The Settlements involve a lawsuit claiming that certain freight forwarding companies secretly agreed to prices for their freight forwarding services worldwide, including on routes in the U.S. and between the U.S. and China, Hong Kong, Japan, Taiwan, India, Germany, the U.K. and other parts of Europe.  The Settling Defendants deny that they did anything wrong.

Freight Forwarders provide transportation, or logistics services for shipments relating to the organization or transportation of items via air and ocean, which may include ancillary rail and truck services, both internationally and nationally, as well as related activities such as customs clearance, warehousing, and ground services.

A Class Member is included in one or more of the Settlements if they: (1) Directly purchased Freight Forwarding Services; (2) from any of the Defendants, their subsidiaries, or affiliates; (3) from January 1, 2001 through January 4, 2011; (4) in the U.S., or outside the U.S. for shipments within, to, or from the U.S.

DHL and Hellmann will establish a $53,550,000 Settlement Fund. The amount of benefits for each purchaser will be determined by the Plan of Allocation, which is posted on www.FreightForwardCase.com.

Important Information

  • Purchasers will need to submit a Claim Form, online or by mail, by April 3, 2017 to get a payment from the Settlements.  If purchasers already submitted a Claim Form for the first or second round of Settlements, they do not need to file a new claim. They will automatically be paid from this round of Settlements.
  • Purchasers who do nothing will not get a payment and give up the right to sue.
  • Purchasers who want to keep the right to sue DHL or Hellmann must exclude themselves by September 20, 2016.
  • Purchasers who stay in the Settlements can object to them by September 20, 2016.

The Court will hold a hearing on November 4, 2016 to consider whether to approve: (1) the Settlements, (2) a request for attorneys’ fees up to 33% of the Settlement Fund, plus interest, and reimbursement for litigation expenses; and (3) a request for Class Representative service awards of no more than $75,000 each.

For more information regarding the Settlements and Class Member rights, please visitwww.FreightForwardCase.com, call 1-877-276-7340 (U.S. & Canada) or 1-503-520-4400 (International), or write to: Freight Forwarders Claims Administrator, P.O. Box 3747, Portland, OR, 97208-3747.

Source:
Cotchett, Pitre & McCarthy, LLP
Gustafson Gluek, PLLC
Lockridge Grindal Nauen P.L.L.P and Lovell, Stewart, Halebian, Jacobson LLP

Written by asiafreshnews

July 12, 2016 at 11:47 am

Posted in Uncategorized

Thomsons Online Benefits Positioned for Long Term Growth as SaaS Business

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LONDON /PRNewswire/ —

Darwin™ establishes leading position in fast growing $10bn global HCM market

Thomsons Online Benefits (“Thomsons” or “the Group”), the SaaS (Software as a Service) provider of global employee benefits and employee engagement software, announces its full year results for the 12 months to 31 December 2015.

(Logo: http://photos.prnewswire.com/prnh/20150610/748352 )

Operational highlights

  • Darwin™ established as leading global employee benefits management and engagement technology solution for the Human Capital Management (HCM) market
    • End users of Darwin™ up 60%
    • Seven of top 10 global tech companies and six out of top 10 global brands use Darwin™
    • Darwin™ live in more than 80 countries in 25 languages
  • Three of the largest and most respected global HCM service providers now major global partners: ADP, Xerox Global Benefits Services and Mercer
  • 98% client retention maintained, with 100% in Enterprise clients
  • Extended relationship with NGA Human Resources, includes its European Enterprise and Asia businesses

Financial highlights

  • Revenue £32.4m (2014: £32.0m) reflects transformation to a Global SaaS subscription based services business from a UK full service broking, technology and administration business
    • 33% CAGR growth in software related revenue since 2012
    • SaaS revenue up 36% – driven by larger EMEA and multi-country Global Enterprise clients
    • 50% of SaaS bookings from multi-country Global Enterprise deals
    • International revenue up 54% – now accounting for nearly 20% of total revenue
  • EBITDA* £4.5m (2014: £5.7m) reflects business shift
  • EBITDA* cash conversion rate 141%
  • Strong balance sheet with cash of £12.3m (2014: £12.6m)

Outlook

  • Strong 2016 pipeline – in both EMEA and Global Enterprise
  • New partnerships create scale and open up new channels – driving sales
  • Significant revenue visibility** of £141m over next five years, based on current renewal rate

*EBITDA is earnings before interest, tax, depreciation and amortisation

**Revenue visibility over the next five years comprises contracted revenue from existing clients, based on historical client renewal rates, plus recurring fee revenue for services yet to be contracted with these clients, based on historical performance

Michael Whitfield, Chief Executive Officer commented:

In just three years, we have transformed Thomsons from a domestic, largely commission based, operation into a scalable multinational SaaS business. We have significantly invested into the business to enable scale, remained profitable throughout our transition and established our flagship platform, Darwin™ as the global industry leader.

2015 was a tremendous year for us. There was a significant increase in the number of our clients extendingtheir use of Darwin™ internationally. This reflected both employees demands to have their benefit offerings delivered digitally in a highly accessible, secure and engaging way, and employer demands to control risks and costs as their businesses expand rapidly outside of their home territories.

2015 also saw a sea-change in our partner strategy as we secured several significant multi-nationaldistribution partners who will help turbo-charge our growth over the next five years.

The HCM market continues to look to cloud based technologies to drive efficiencies through automation, provide consumer grade employee experiences and centralised analytics.

Employee benefits is an area where organisations can achieve significant competitive advantages, and Darwin has become the clear market leader to deliver the required solution. 

We have real momentum, with a robust sales pipeline which we expect to continue to grow rapidly and convert into new bookings, particularly as our partners gain traction and we increase the number of new business wins through them. 

Thomsons Darwin™ software is already globally acknowledged as best of breed. With our strong financial pedigree, stable full of the worlds best logos and a highly scalable and robust SaaS strategy, we are well set to enjoy our most successful phase to date. 

Note to Editors

Thomsons is the global provider of global employee benefits and employee engagement software. Our award-winning software, Darwin™, is the leading, global platform delivering end-to-end, automated, employee benefits administration. It connects employees with their benefits throughout their lives, in over 80 countries and 25 languages, and is used by the world’s leading employers, including seven of the top ten technology companies.

Darwin™ provides a tailored solution to meet a variety of employee benefit and reward needs including employee engagement, managing risk, controlling costs and streamlining benefits administration.

Thomsons has received its 103rd industry award, including the prestigious Brandon Hall Group gold award for Best Advance in Rewards and Recognition Technology.

Thomsons has teams in the UK, Romania, Singapore and the US to enable it to service its global client base.

Enquiries:

Thomsons Online Benefits
+44 (0) 203 328 4000
Michael Whitfield, Chief Executive Officer
Paul Smolinski, Chief Financial Officer

Instinctif Partners
+44 (0) 207 457 2020
Adrian Duffield / Lauren Foster

Source: Thomsons Online Benefits

Written by asiafreshnews

July 12, 2016 at 11:32 am

Posted in Uncategorized