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Wissmann: IAA Commercial Vehicles as Platform for Digital Transformation

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BERLIN /PRNewswire/ —

Preparations for the most important trade fair for mobility, transport and logistics running at top speed – 2,000 exhibitors – New Mobility World logistics with tangible megatrends.

“The slogan ‘Driven by ideas’ points up the huge drive for innovation in the companies exhibiting at the world’s most important trade show for mobility, transport and logistics. The 66 IAA Commercial Vehicles will open its doors in Hannover on September 22. There has never been more future at the IAA. Numerous models with alternative powertrains will be on display. City buses, vans and distribution trucks are increasingly using electric power. The entire sector is undergoing a ‘digital transformation’ – the commercial vehicles of the future will be connected, and automated driving will soon be a reality,” stressed Matthias Wissmann, President of the German Association of the Automotive Industry (VDA). The VDA organizes the IAA.

Preparations for the IAA are running at top speed. “We have sold more stand space than we did at the last IAA Commercial Vehicles. Once again we have a great many exhibitors, at around 2,000. The IAA is becoming ever more international, with the proportion of foreign exhibitors way over the 50 percent mark. Most of the foreign exhibitors come from Italy, China or Turkey. This year again it is impressive to see the major truck, trailer and body manufacturers at the IAA. To add to this, there are more suppliers from all over the world than at any other automotive trade fair,” Wissmann explained. The first-time exhibitors include BYD with its buses, and Toyota with light commercial vehicles.

The “New Mobility World logistics” gives the megatrend of digital transformation a news emphasis at the International Motor Show (IAA). It underscores the fact that the whole commercial vehicle, transport and logistics industry is driving forward the mobility of the future. For example, the demonstration area “New Mobility World LIVE” will showcase dynamic and interactive driving with technical innovations. At the “New Mobility World Parcours” visitors will be able to drive and experience electric commercial vehicles themselves. The themed “Guided Tours” will take participants around the trade show grounds to selected exhibitors. There will also be a large number of conferences on automation, connectivity, clean power and urbanization. One of them is the “New Mobility World Lab16: Startups meet industry” on September 27. It will highlight innovations that make freight traffic, logistics and commercial vehicles more efficient, greener and smarter. The “Lab” will bring established companies and startups together. Compact corporate presentations, networking sessions, discussions and lectures by pioneers in the industry will provide an exciting program. The healthy state of the commercial vehicle business is supporting the IAA,” Wissmann emphasized. Last year the Western European market for heavy trucks already expanded by 14 percent. New registrations in the first half of 2016 also added 14 percent. And the van market has a similar dynamic: in the first half-year light commercial vehicles recorded a year-on-year rise of 12 percent.

The VDA organizes a wide range of activities at the IAA supporting the week of activities of the Alliance for the ‘Future of Industry’ instituted by the Federal Ministry for Economic Affairs, the Federation of German Industries (BDI), the trade union IG Metall, and eleven other industrial and employers’ associations and trade unions. The 66th IAA Commercial Vehicles will be opened by Federal Transport Minister Alexander Dobrindt on September 22. Online accreditation for journalists (http://www.iaa.de/en/ ) began on July 14, and already more journalists have registered than at this stage two years ago.

You will find information about the IAA including useful tips, opening times, admission prices, a site plan, specialist events and other activities/events at http://www.iaa.de/en/iaa-guides/visitor-information/.

Press contact:
Eckehart Rotter
Head of Press Department
Phone: +49-30-897842-120
Email: rotter@vda.de

Source: German Association of the Automotive Industry (VDA)

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August 5, 2016 at 4:31 pm

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Cloud4C (A CtrlS Group Company) Announces Global Premium Partnership With SAP for SAP HANA(R) Enterprise Cloud (HEC)

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SINGAPORE /PRNewswire/ —

Cloud4C – world’s 1st Tier-4 public cloud and managed services provider today announced a global premium supplier partnership with SAP to provide infrastructure services for SAP HANA® Enterprise Cloud. SAP HANA Enterprise Cloud is a private, secure cloud fully managed by SAP and supported by global partners, and is offered for companies that run mission-critical applications in the cloud.

(Logo: http://photos.prnewswire.com/prnh/20160804/395631LOGO)

SAP plans to leverage the Cloud4C – premium IT infrastructure and managed services to expand availability of SAP HANA Enterprise Cloud throughout the Asia Pacific region and later to other global markets. To begin with, the partnership will have two phases – it will start in India, Thailand and later expand across South East Asia followed by Australia and New Zealand. The primary objective of the partnership is to enhance the availability of SAP HANA Enterprise Cloud services throughout the region.

With this agreement, Cloud4C becomes one of the select few global partners delivering cloud infrastructure for SAP HANA Enterprise Cloud.

Cloud4C offers rich and differentiated features such as fully-automated provisioning with security, monitoring, high availability, disaster recovery, backup, continuity via multiple geography, elasticity/auto scaling, self-provisioning portal with fail-proof 4-copy architecture. The 4-copy architecture of Cloud4C enables continuity, compliance, control and customization providing the power to deliver a mature environment to handle mission- critical environments.

“We are delighted to partner with SAP,” said Sridhar Pinnapureddy, Founder and CEO, Cloud4C. “We believe this partnership is a perfect fit for customers seeking a comprehensive, robust and secure solution to host SAP HANA. As the world leader in the enterprise software domain, SAP is absolutely the right partner to help transform the way businesses adopt SAP HEC and experience the potential business benefits.”

According to Peter Harkin, SAP Head of HANA Enterprise Cloud and Managed Services Sales for Asia Pacific and Japan, “The capabilities of SAP HANA, combined with the ability to run mission-critical business applications in a cloud environment, are enabling our customers across the region to transform digitally and run live. Our partnership with Cloud4C began nearly 3 years ago in India. Since that time we worked together to deliver HANA Enterprise Cloud Services to 13 customers – 11 of which are in productive use today. This promotion of Cloud4C to HEC Premium Partner status is recognition of the work we have done together to help the digital transformation of SAP customers.”

About Cloud4C

Cloud4C is world’s 1st Tier 4 public cloud with 4 copies and built-in Disaster Recovery (DR). It has been built indigenously to address the needs of large enterprises and start-ups alike. It’s a ‘Make in India’ cloud offering rivaling the best services provider across the globe. The company has its global footprint in India, Middle East, South East Asia and USA.

Cloud4C offering comprise of cloud (private, hybrid, public), managed services, infrastructure as a Service, DR as a Service, CDN, RIM and SAP HANA hosting, Security Operations Center and Total Infrastructure Outsourcing.

https://www.cloud4c.com/

Media Contact
B S Rao
Vice President
bsrao@cloud4c.com
+91-4042030700

Source: Cloud4C

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August 5, 2016 at 4:27 pm

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Empire State Building Soars To New Heights With Exciting New Elevator Experience Exclusively For Observatory Visitors

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NEW YORK /PRNewswire/ — Empire State Realty Trust (NYSE: ESRT) today announced a new elevator experience for visitors to the Empire State Building (ESB). One-of-a-kind mini-shows with sound, created by design studio Imaginary Forces, will play on the ceiling of the elevator cars both on the ascent to and descent from the world-famous 86th Floor Observatory. The shows are to be unveiled at 6 p.m. EDT on August 4, 2016, in three elevators, with the balance of the elevators being upgraded over time.

Imaginary Forces’ Creative Directors Dan Gregoras and Jeremy Cox led a team of visual-effects artists and audio composers, who began work in 2015, in creating two unique guest experiences. From the moment the elevator doors close, the ascent show transports visitors back in time to the construction of ESB, spotlighting workers, machinery, and materials in a fanciful depiction of the construction process.

On the descent, the show prepares visitors for the ride back to the New York City streets by showcasing different features of the art deco masterpiece lobby, with distinct features floating in to ultimately form the iconic mural that adorns the Fifth Avenue entrance.

“Located at the heart of New York City, the Empire State Building provides fresh, fun and educational experiences,” said Jean-Yves Ghazi, Director of the Observatory. “Our new elevator shows not only add entertainment for our visitors but by putting them on the ceiling, we give each visitor the opportunity to be fully immersed in our world.”

For more information, or to purchase tickets to the Empire State Building’s Observatory, please visit http://www.esbnyc.com.

About the Empire State Building
Soaring 1,454 feet above Midtown Manhattan (from base to antenna), the Empire State Building, owned by Empire State Realty Trust, Inc., is the “World’s Most Famous Building.” With new investments in energy efficiency, infrastructure, public areas and amenities, the Empire State Building has attracted first-rate tenants in a diverse array of industries from around the world. The skyscraper’s robust broadcasting technology supports all major television and FM radio stations in the New York metropolitan market. The Empire State Building was named America’s favorite building in a poll conducted by the American Institute of Architects, and the Empire State Building Observatory is one of the world’s most beloved attractions as the region’s #1 tourist destination. For more information on the Empire State Building, please visit http://www.esbnyc.com, http://www.facebook.com/empirestatebuilding, @EmpireStateBldg, http://www.instagram.com/empirestatebldg, http://www.youtube.com/esbnyc or http://www.pinterest.com/empirestatebldg/.

About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 10.1 million rentable square feet, as of March 31, 2016, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 724,000 rentable square feet in the retail portfolio.

About Imaginary Forces
Founded in Los Angeles in 1996, Imaginary Forces (IF) is a conceptual design studio and full service production company. We create beautiful stories and compelling identities, specializing in brand development, commercial advertising, digital and interactive design, main title design, entertainment marketing, and experience design.

Forward-Looking Statements
This press release includes “forward looking statements”. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in (i) the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Business,” and “Properties” and (ii) in future periodic reports filed by the Company under the Securities and Exchange Act of 1934, as amended. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2015, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).

Source: Empire State Realty Trust
Related stocks: NYSE:ESRT
Related Links:
http://www.esbnyc.com

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August 5, 2016 at 4:15 pm

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Automotive Component Suppliers Moving To Arena And The Cloud For All-In-One PLM & QMS

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-In the Increasingly IoT Intensive Automotive Component Market, Suppliers Need an Affordable, Single PLM & QMS Solution to Easily Collaborate, Scale and Accelerate Time to Market
FOSTER CITY, Calif. /PRNewswire/ — Arena Solutions, a pioneer in cloud-based, unified product lifecycle management (PLM) and quality management system (QMS) solutions, today released highlights of its success in penetrating the automotive component supplier industry. Automobiles are rapidly becoming at least as intricate and interactive as a smartphone. From deep wireless device integration to driverless automobiles and the software defined car, vehicles rolling out of the factory are many times more complex than they were just a few short years ago, and IoT (Internet of Things) plays a central role. With hundreds of IoT companies already in its stable of customers, Arena is enjoying enviable traction in this white hot market segment.

Logo – http://photos.prnewswire.com/prnh/20151117/288645LOGO

Competitive pressures and the need for rapid innovation are requiring auto component suppliers, many of them very young companies, to rapidly produce completely new modules and subcomponents. Even more challenging, they must do so in high mix and high rate-of-change production runs while simultaneously improving quality and functionality with every release as they sprint to be first to market.

Similar to consumer electronics and medical device manufacturers, automotive suppliers and sub-suppliers are increasingly turning to Arena because only it can deliver a unique combination of PLM and QMS that also incorporates industry leading supply chain solutions. Arena assures a higher degree of interoperability to avoid the frustration of linking together third party dissociated solutions. Indeed, as the automotive component market increasingly incorporates IoT technologies, and vehicles become more connected and complex, it’s only natural the industry would look to Arena, which has more than 250 IoT customers, a number that few competitors can match.

With Arena, automotive component manufacturers can:

Provide flexibility and ease of use for QMS in the cloud
Connect the entire supply chain to the product record for heightened visibility
Enable all stakeholders to participate in the quality process
Scale as needed to meet the needs of fast growing companies
Avoid the costs associated with the maintenance of additional hardware and software – Arena PLM and QMS require only a standard web browser
Secure their product data, thanks to a highly secure, multi-tenant cloud-based architecture and dedicated security team
Reduce manufacturing costs
Aperia Technologies, based in Burlingame, Calif., began using Arena PLM in 2013. The company was founded in 2010 and released its first product in mid-2015. Their device, the Halo Tire Inflator, monitors tire pressure for the trucking industry and, when it becomes low, automatically inflates the tire.

“Arena is our master repository of record,” said Roget Ratchford, principal engineer at Aperia. “One of the greatest benefits of Arena is it reduces ambiguity down to zero. You can always get the right answer no matter where you are, on the ground, in the office, in the air, on the phone. If you need current rev, information on parts, go to Arena. It’s the pivot on which all of our other databases run.”

Aperia also extensively takes advantage of Arena Quality. “With Arena Quality, we know who’s got the ball in their court, what needs to be done, and when was it achieved,” Ratchford added. “It’s enormously helpful. Quality issues don’t get lost or overlooked, because all the information is right there in the product record where everyone can see it.”

Starline, a St. Petersburg, Russia-based supplier of next generation automotive telematic security systems and services to automakers, provides a good example of why manufacturers in EMEA are increasingly turning to Arena to solve their product design and supply chain challenges.

“We started high-level hardware development in Russia about five years ago,” said Alex Borisov, head of research and development at Starline. “We used a spreadsheet application to manage our bill of materials, and it was very hard to control, especially because we use many of the same parts across different products.”

After two years, however, Starline recognized that the company needed to deploy PLM software to manage their BOM, and they selected Arena because it was best suited for electronic products design and, as a cloud-based solution, it was simpler to deploy, easier to connect to suppliers with and cost much less than traditional, on-premises PLM software.

“The automotive industry is in the midst of a technological transformation,” said Steve Chalgren, EVP of product management & chief strategy officer at Arena. “Both new startups and established suppliers are creating highly complex, innovative components. They’re recognizing that traditional, mechanical focused on-premise PLM solutions can’t deliver the electronic high tech PLM and QMS capabilities that are required by the electrical, firmware, and software development teams. As a result, they’re increasingly turning to Arena Solutions.”

About Arena Solutions
Arena invented cloud PLM. Its holistic suite of PLM, supply chain and QMS solutions enables innovative OEMs with complex electronics to manage their bill of materials, facilitate engineering change orders and speed prototyping to improve margins and collapse time to market. Arena has been ranked a Top 10 PLM provider and won the coveted Design News Golden Mousetrap Award in 2016. For more information, please visit http://www.arenasolutions.com.

To learn more about Arena Solutions:

Visit the Arena Solutions website.
Read the Arena blog on product design, development and manufacturing.
Follow @arenasolutions on Twitter.
Follow Arena on LinkedIn.

Arena and Arena Solutions are trademarks of Arena Solutions, Inc., Reg. U.S. Pat. & Tm. Off. All rights reserved. Other product and company names are the property of their respective holders.

Source: Arena Solutions
Related Links:
http://www.arenasolutions.com/

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August 5, 2016 at 3:52 pm

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2016 Summer Olympic Games in Rio de Janeiro, Brazil: Latest-generation BEREG KIT Anti-doping Bottles Delivered to Rio Olympics Organizers

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ZURICH /PRNewswire/ —

The organizers of the 2016 Summer Olympic Games in Rio de Janeiro, Brazil have taken delivery of the latest generation of BEREG KIT anti-doping bottles from Berlinger Special AG of Switzerland. This latest version of thesespecial bottles, which are used to prevent tampering with anti-doping samples, has been manufactured in Switzerland since the end of April 2016 under the tightest security conditions, and is globally acknowledged to be the most secure of its kind. The new BEREG KIT bottles have been in use with various anti-doping agencies around the world for some weeks now, and will also be used in the anti-doping tests at the Rio Summer Olympics, which begin onFriday 5 August.

Additional security provisions

The BEREG KIT security bottles for anti-doping samples have been continuously developed and refined since they were first produced in 1994. The latest version, whose manufacture has been under way in Switzerland since the end of April, has been provided with additional security features to ensure that any tampering with the samples contained therein can be effectively ruled out.

The new security features are part of an evolutionary development process for the BEREG KIT product, and have been devised and incorporated in collaboration with the World Anti-Doping Agency (WADA), national anti-doping organizations and private anti-doping agencies. The BEREG KIT bottles are tamper-evident, i.e. any illegal or improper opening of the samples concerned can be detected with 100% certainty. Berlinger Special AG declines to provide any further details of the security provisions involved.

A certificated product with high security standards

The BEREG KIT anti-doping bottles are manufactured in Switzerland under the strictest security conditions. These include a comprehensive appraisal of each of the bottle’s various security features by a materials testing institute that has been certificated for such expertise by the Swiss national authorities. The previous versions of the BEREG KIT anti-doping bottles have also been subjected to such extensive testing – both by the manufacturer and by the relevant external specialists – and have also been declared tamper-evident by the authorities concerned.

McLaren Report on the 2014 Sochi Winter Olympics

It was confirmed at the media conference in Toronto (Canada) on 18 July on the findings of the independent investigation led by Professor Richard McLaren into allegations of the manipulation of anti-doping samples at the 2014 Sochi Winter Olympic Games that BEREG KIT security bottles could continue to be unreservedly used for the 2016 Rio Summer Olympic Games. The latest BEREG KITs which have now been delivered to the Rio organizers are not comparable with those used at the Sochi Winter Games in 2014, and are still regarded as the most secure anti-doping bottles in the world. Berlinger Special AG will also be supporting the anti-doping authorities and the anti-doping laboratory in Brazil if desired, by contributing its expertise and years of experience in the field. The specialists at Berlinger Special AG can determine at any time whether one of the company’s anti-doping bottles has been counterfeited or tampered with.

Dedicated to fair and clean sporting competition

Swiss-based Berlinger Special AG has been supporting the endeavours of the world’s anti-doping authorities for over ten years now. With its globally unique expertise and its constant further evolutionary development of the security bottles it produces for handling blood and urine samples, Berlinger Special AG is dedicated to helping ensure fair and clean sport. As CEO Andrea Berlinger says: “We support WADA and all the national anti-doping agencies and organizations which, like our company, are committed to fair sporting competition.”

Further information:

Berlinger Special AG
Hans Klaus, media spokesman
c/o KLAUS METZLER ECKMANN SPILLMANN
CH-8001 Zurich
Switzerland

Phone +41-43-544-1744
Mobile +41-79-357-0357

Email klaus@kmespartner.com
http://www.berlinger.com

Source: Berlinger Special AG

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August 5, 2016 at 3:44 pm

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Mobile and Computing Markets Catapult 60 GHz WiGig into the Mainstream in 2017

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LONDON /PRNewswire/ — The 802.11ad (WiGig) chipset market is set to reach a critical juncture in 2017 when the technology hits higher adoption levels in the mobile and computing space. ABI Research forecasts 180 million WiGig chipsets will ship to the smartphone market in 2017, with smartphone chipsets accounting for almost half of the 1.5 billion total market shipments in 2021. WiGig chipsets significantly enhance Wi-Fi throughput, improve efficiency, and expand product use case potential.

Logo – http://photos.prnewswire.com/prnh/20151014/276887LOGO

“Tri-band products that incorporate 2.4GHz, 5GHz, and 60GHz technologies will take Wi-Fi to the next level, providing a better balance between reliability and performance than ever before,” says Andrew Zignani, Industry Analyst at ABI Research. “But Wi-Fi will still have one major market hurdle: it will not have an existing device ecosystem to build upon once it moves to the 60 GHz band.”

As there are currently few products on the market that utilize 802.11ad, many OEMs have yet to find a compelling enough use case to justify the additional costs and complexities in adopting the standard. But the industry is making waves, with recent collaborations from Intel and Qualcomm fueling growth and a number of others, including Broadcom, MediaTek, Nitero, Peraso, and SiBeam, already providing or planning to provide WiGig chipsets to the market.

The first WiGig-enabled smartphones are likely to arrive later this year, albeit in limited quantities, with 802.11ad support provided alongside Qualcomm’s Snapdragon 820 platform. This marks the start of a larger push from Qualcomm and other IC suppliers to drive the technology forward. The new technology will allow OEMs to further differentiate their flagship products from the middle and lower tier devices, as well as maximize streaming performance from access points and push content between devices.

The technology will also find significant opportunities in the PC space as the push to wireless charging and cable free devices gains momentum. 802.11ad is additionally gaining traction in routers, with vendors such as TP-link relying on it to drive improvements in internet access and streaming capabilities.

“WiGig has a bright future across the mobile, PC, networking, and accessory space, and beyond, with 2017 marking a critical juncture in its development and success,” concludes Zignani. “We expect to see many IC suppliers in this space taking steps to promote and scale the technology this year to prepare.”

These findings are from ABI Research’s Wi-Fi (https://www.abiresearch.com/market-research/product/1024535-wi-fi/). This report is part of the company’s Semiconductors (https://www.abiresearch.com/market-research/practice/semiconductors/) and Smart Home sectors (https://www.abiresearch.com/market-research/practice/connected-home/), which include research, data, and analyst insights.

About ABI Research

ABI Research stands at the forefront of technology market research, providing business leaders with comprehensive research and consulting services to help them implement informed, transformative technology decisions. Founded more than 25 years ago, the company’s global team of senior and long-tenured analysts delivers deep market data forecasts, analyses, and teardown services. ABI Research is an industry pioneer, proactively uncovering ground-breaking business cycles and publishing research 18 to 36 months in advance of other organizations. For more information, visit http://www.abiresearch.com.

Contact Info: Mackenzie Gavel
Tel: +44.203.326.0142
pr@abiresearch.com

Source: ABI Research
Related Links:
http://www.abiresearch.com

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August 5, 2016 at 3:32 pm

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Global Ewaste Solutions Becomes the First South East Asian Electronics Recycler to Achieve e-Stewards Certification

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SINGAPORE /PRNewswire/ — Global Ewaste Solutions Pte., Ltd., in Singapore, has been granted the first e-Stewards® certification in South East Asia, and is the first to offer global coverage with three e-Stewards Certified facilities outside of the United States. The e-Stewards Certification is widely recognized as the most rigorous standard for socially and environmentally sound electronics recycling and asset management in the world.

In the current economic climate, with crashing commodity values and ever increasing connected devices, e-Waste dumping has unfortunately become a worldwide epidemic. e-Stewards Certification, owned by the environmental organization Basel Action Network (BAN), is seen as part of the solution. Global Ewaste Solutions’ customers are committed to responsible recycling and demand the highest environmental, health and safety, and data security standards to ensure their products have a minimal negative global impact. The e-Stewards Standard’s strict rules against exports of toxic electronic waste to developing countries, disposal in solid waste landfills or child or forced prison labor, as well as their rigorous performance verification methods, ensures our clients have peace of mind when making end of life IT lifecycle decisions.

Far too often, companies calling themselves recyclers simply export e-waste to developing countries. A recent study by BAN, using tracking devices placed in old electronic equipment and delivered to recyclers, showed that almost 40% of these went offshore to Asian destinations where they were managed in sub-standard, highly polluting informal operations. Global Ewaste Solutions is proud to support the ongoing efforts of e-Stewards and Basel Action Network (BAN) to help eliminate global e-Waste dumping and provide enterprises and other customers with ethical alternatives.

“Creating an e-Stewards Certified company in Singapore provides multinational companies a new option for their Asia operations. They can now easily adhere to the same exact responsible recycling practices as they do in North America or Europe, in Singapore and surrounding countries.” said Global Ewaste Solutions President, Kuljit Parmar.

In addition, to provide the highest levels of environmental justice for its clients, Global Ewaste Solutions, a division of Knowledge Computers, has also been helping its clients around the globe ensure they maximize the lifecycle value of their IT Assets. They are committed to provide their clients with the highest levels of data security on their retired IT assets, while focusing on reuse over recycling to drive maximum sustainability in every instance.

“We are thrilled to welcome Global Ewaste Solutions into the e-Stewards community of globally responsible asset managers,” said BAN Executive Director, Jim Puckett. “South East Asia now has an ethical destination for retired assets from the many enterprises operating in the region.”

About Global Ewaste Solutions

Global Ewaste Solutions is a leading IT asset disposition (ITAD) service provider with facilities in Canada, USA and Singapore. Offering a full suite of IT lifecycle management services from on-site data destruction to asset remarketing and responsible e-Waste recycling. The objective is to provide peace of mind to our clients by ensuring the best data sanitization and environmental practices are used for their retired IT assets, while lowering their TCO using our remarketing, repair and redeployment services.

About e-Stewards® Certification

The e-Stewards® initiative is a market-based solution to help individuals and organizations identify and promote electronics recyclers who ensure that used electronics are managed with the highest standards of environmental and social responsibility. e-Stewards Certified Recyclers are audited and certified to ensure highest levels of responsibility and e-Stewards Enterprises are major corporations, municipalities, nonprofits or institutions that agree to make best efforts to make use of e-Stewards Certified Recyclers. For more information about the e-Stewards Initiative visit: http://www.e-Stewards.org

For further information: Kuljit Parmar, President, kparmar@globalewaste.net, 1-888-481-9671; Jim Puckett, Executive Director,inform@ban.org, 206-652-5555

Source: Global Ewaste Solutions Ltd.
Related Links:
http://www.e-Stewards.org

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August 5, 2016 at 3:14 pm

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Archive360 Named a “Top 10 Emerging Cloud Vendor” by CRN Magazine

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-Leading Provider of Compliant Email Archive Migration Solutions Speeds Customers Move from Legacy Archives to Microsoft Office 365 and Leading Cloud Archive Platforms
NEW YORK/PRNewswire/ — Archive360, the leading provider of email archive migration software, today announced that Everything Channel’s CRN Magazine has named the company as one of “10 Emerging Cloud Vendors”. This recognition is further validation of the market need to deliver comprehensive, compliant migration solutions to speed the move from legacy email archives to Microsoft Office 365 and next-generation cloud archive platforms.

Logo – http://photos.prnewswire.com/prnh/20160525/372267LOGO

The deployment of Microsoft Office 365, as well as hosted Microsoft Exchange Online, is expected to grow rapidly over the next four years. This trajectory will continue as more organizations adopt increasing confidence with the security and privacy of cloud services. Archive360’s flagship product, Archive2Anywhere™, is architected from the ground up to simply and seamlessly migrate on-premises email archives to the cloud. The legally compliant software platform delivers predictable and controlled data migration with full compliance and legal defensibility to minimize risk and exposure for highly regulated industries such as healthcare, financial services, and public sector.

With Archive2Anywhere, hosting providers, managed service providers, and channel partners are able to expand their service offering with a complete “migration in a box” toolkit to eliminate the cost and challenges of on premise legacy archives and compliantly help their customers migrate critical data to Office 365 and next generation cloud archive alternatives. The result for partners is an increase of up to 4X in services revenue and an increase in Office 365 license consumption while delivering superior benefits and value for their customers.

“As organizations migrate their on premise Exchange Server to Office 365, they are faced with the burden of also moving their potentially massive legacy email archive data, including PST files which can be decoupled unknowingly from Outlook mailboxes or stored in file servers and local computers,” said Bill Tolson, Vice President of Marketing, Archive360. “We are pleased to be recognized as an emerging cloud vendor by CRN as we lead the way helping organizations achieve fully defensible and painless moves of their email content to the cloud while minimizing risk and exposure.”

About Everything Channel
Everything Channel is the premier provider of IT channel-focused events, media, research, consulting, and sales and marketing services. With over 30 years of experience and engagement, Everything Channel has the unmatched channel expertise to execute integrated solutions for technology executives managing partner recruitment, enablement and go-to-market strategy in order to accelerate technology sales. Everything Channel is a UBM company. To learn more about Everything Channel, visit us at http://www.everythingchannel.com. Follow us on Twitter at http://twitter.com/everythingchnl.

About Archive360
Archive360 is the market leader in email archive migration software, successfully migrating more than 12 petabytes of data for more than 500 organizations worldwide since 2012. The company’s flagship product, Archive2Anywhere™, is the only solution in the market purpose-built to deliver consistently fast, trouble-free, predictable archive migrations, with verifiable data fidelity and defensible chain of custody reporting. Archive360’s newly released Archive2Azure solution is the industry’s first regulatory compliance and grey data storage solution based on the Microsoft Azure platform. Archive360 is a global organization and delivers its solutions through a network of specialist partners.

Media Contact
Sabrina Sanchez
The Ventana Group
+1 (925) 785-3014
ssanchez@theventanagroup.com

Source: Archive360
Related Links:

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August 5, 2016 at 2:48 pm

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GlobalNet Launches VectorMAX IPTV Platform

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NEW YORK and BOGOTA, Colombia /PRNewswire/ — GlobalNet (globalplay.tv), a national carrier in Bogota, Colombia, launched “GlobalPlay,” an IPTV service utilizing the VectorMAX TV Anywhere™ end to end, completely software based, IPTV delivery Platform.

VectorMAX Corporation (www.vectormax.com), based in Farmingdale, New York, is a leading provider of turn-key IPTV transport technologies.

VectorMAX engineers set up and deployed the GlobalPlay offering during a 60 day installation process. GlobalPlay delivers SD & HD live channels to the Colombian market. The VectorMAX Platform is fully 4K capable, which GlobalNet will implement when 4K content is available. GlobalPlay’s IPTV service also incorporates VectorMAX collateral service capabilities, including delivery of weather and news information, provisioning for video and music content and a carrier controlled “closed wall” environment for a wide range of set top box applications.

VectorMAX also supplied GlobalNet with branded IP set top boxes, providing a complete end to end turnkey solution for the GlobalPlay service.

About VectorMAX:
IPTV represents the next advancement of television and rich media content delivery. Carriers worldwide are deploying IPTV as a means of retaining and attracting subscribers, generating high margin revenues and further diversifying their revenue centers. To deliver IPTV, carriers must install and maintain hardware based high bandwidth capable network infrastructure.

TV Anywhere™ enables carriers to deliver live linear IP broadcast channels and other rich media content over their existing or otherwise limited networks. VectorMAX’s TV Anywhere™ IPTV Delivery Platform is a complete end to end, software based, IPTV delivery platform. TV Anywhere™ utilizes the VSP-2™ transport protocol incorporating VectorMAX’s ground breaking transport stream architecture.

When delivering to subscribers on the carrier’s network (ON), TV Anywhere™ is implemented at the carrier’s network operating center (NOC), providing all the required transport functionality.

When delivering to subscribers over the internet (OTT), TV Anywhere™ is implemented in the Cloud, providing all the functionality of a Content Delivery Network (CDN).

TV Anywhere™ enables service providers to quickly and cost effectively deploy IPTV to set top boxes, PCs/Macs, Apple iOS and Google Android mobile devices.

About GlobalNet:
GlobalNet is a national MVPD carrier headquartered in Bogota, Colombia providing live linear broadcasting, VoIP, and connectivity services to the consumer and enterprise markets. GlobalNet’s IPTV service is implemented through multiple network modalities, including DocSis cable, fiber optic, and terrestrial fixed wireless infrastructure.

Press Contact: Marc Calvano, Vice President Communications
mcalvano@vectormax.com
1 (215) 783-5939

Source: VectorMAX
Related Links:
http://www.vectormax.com

Written by asiafreshnews

August 5, 2016 at 2:42 pm

Posted in Uncategorized

Manulife reports 2Q16 core earnings of $833 million and net income of $704 million, strong growth in new business value, and continued positive net flows in its wealth and asset management businesses

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C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK: 945

This quarterly earnings news release should be read in conjunction with the Company’s Second Quarter 2016 Report to Shareholders, including our unaudited Interim Consolidated Financial Statements, for the three months and six months ended June 30, 2016, prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), which is available on our website at http://www.manulife.com/quarterlyreports.

Additional information relating to the Company is available on the SEDAR website at http://www.sedar.com/ and on the U.S. Securities and Exchange Commission’s (“SEC”) website at http://www.sec.gov/ (EDGAR filers section).

We use a number of non-GAAP measures to measure performance and to assess our businesses. For more information on non-GAAP financial measures, see “Performance and Non-GAAP Measures” below and in our Second Quarter 2016 Report to Shareholders and 2015 Management’s Discussion and Analysis.

TORONTO /PRNewswire/ — Manulife Financial Corporation (“MFC”) today announced net income attributed to shareholders of $704 million for the second quarter of 2016 (“2Q16”), fully diluted earnings per common share of $0.34 and return on common shareholders’ equity (“ROE”) of 7.1%, compared with $600 million, $0.29, and 6.4%, respectively, for the second quarter of 2015 (“2Q15”). The increase in net income attributed to shareholders was primarily due to the impact of mark-to-market accounting partially offset by the impact of higher expected macro hedging costs and lower earnings on surplus assets. For 2Q16, MFC generated core earnings of $833 million, diluted core earnings per common share of $0.40 and core return on common shareholders’ equity (“Core ROE”) of 8.4%, compared with $902 million, $0.44, and 9.8%, respectively, for 2Q15. The decrease in core earnings reflected the absence of core investment gains in 2Q16, higher expected macro hedging costs and lower earnings on surplus assets, partially offset by the impact of foreign currency rates. Year-to-date 2016 net income attributed to shareholders was $1,749 million, fully diluted earnings per common share were $0.85 and ROE was 8.9% compared with $1,323 million, $0.64 and 7.4%, respectively, for the same period of 2015. Year-to-date 2016 core earnings was $1,738 million, diluted core earnings per common share were $0.84 and Core ROE was 8.9% compared with $1,699 million, $0.83 and 9.6%, respectively, for the same period of 2015.

Donald Guloien, President and Chief Executive Officer, stated, “While both core earnings and net income this quarter were disappointing, having been impacted by the sharp decline in interest rates and heightened market volatility, I am pleased with how resilient our underlying businesses remained. Our key drivers of growth are continuing to perform very well.”

“We delivered strong double digit growth in sales and new business value in Asia, and once again we generated positive net flows across our wealth and asset management businesses globally. This performance makes us confident that we have the right strategy in place to deliver long-term sustainable growth,” added Mr. Guloien.

Steve Roder, Chief Financial Officer, said, “We finished the quarter with a strong capital position which was bolstered by successful bond offerings in Singapore and Taiwan. Similar to the recently completed bond offering in the United States, these offerings are an important part of our global strategy to diversify funding sources and to expand our investor base.”

“We are still early in the process of completing the third quarter’s annual review of actuarial methods and assumptions. While it is difficult to estimate the final impact with precision, preliminary indications suggest that it could result in a post-tax charge to shareholders of up to $500 million,”1 added Mr. Roder.

___________________
1 See “Caution regarding forward-looking statements” below.

HOW OUR COMPANY PERFORMED

Profitability:

Reported net income attributed to shareholders of $704 million, up $104 million or 17% from 2Q15.
In 2Q16, net income attributed to shareholders was comprised of core earnings of $833 million (consisting of items we believe reflect the underlying earnings capacity of the business) and a net charge for items excluded from core earnings of $129 million. Items excluded from core earnings consisted of a $170 million market-related charge and a $19 million charge for integration activities, partially offset by investment-related experience gains of $60 million.

Delivered core earnings of $833 million, down $69 million or 8% from 2Q15.
The decrease in core earnings reflected the absence of core investment gains in 2Q16, higher expected macro hedging costs and lower earnings on surplus assets, partially offset by the impact of changes in foreign currency rates. While Asia and Canada generated double digit core earnings growth, this was offset by higher claims costs and lower one-time favourable items in the U.S. Core earnings in 2Q16 include net policyholder experience charges of $63 million post-tax ($106 million pre-tax).

Reported Core ROE of 8.4% compared with 9.8% in 2Q15.

The decline in Core ROE reflects lower core earnings as previously described coupled with higher average equity as a result of currency and retained earnings.

Achieved our Efficiency and Effectiveness (“E&E”) savings target six months ahead of plan.
As of June 30, 2016, the annual net pre-tax savings from our E&E initiative reached $450 million, exceeding our 2016 target of $400 million. Efforts are continuing to identify and execute on additional opportunities to make our operations more efficient and effective.

Growth:

Achieved insurance sales of $914 million, an increase of 11% compared with 2Q15.
Asia insurance sales increased 30%, driven by double digit growth in most territories, and strong momentum from the DBS partnership. Canadian insurance sales declined 28% as a result of the inherent variability in group benefits sales, with retail insurance sales in Canada in line with the prior year. U.S. insurance sales declined 9% as a result of heightened competition and challenging market conditions.

Generated net flows of $4.8 billion in our wealth and asset management (“WAM”) businesses, down $9.7 billion compared with $14.5 billion in 2Q15 and gross flows of $26.6 billion, down 25% compared with 2Q15.
2Q16 marked the 26th consecutive quarter of positive net flows in our WAM businesses with all divisions reporting positive net flows despite significant market volatility during the quarter. Net flows declined from record levels in 2Q15 largely due to higher redemptions in our U.S. mutual fund business and the non-recurrence of a significant institutional mandate sale in 2Q15. In the U.S., gross flows increased 5% driven by robust mid-market sales in our pension business, which more than offset a decline in mutual fund sales due to challenging market conditions. In Canada, gross flows increased 7% due to strength in mutual funds and large-case group pensions. In Asia, gross flows were down from record 2Q15 levels, which benefited from significant mutual fund inflows driven by a sharp rise in local equity markets in mainland China. During the quarter, we successfully launched the first U.S. property real estate investment trust (“REIT”) in Singapore.

Delivered Other Wealth sales of $2.0 billion in 2Q16, up 6% from 2Q15.
Other Wealth sales in Asia increased 23%, driven by continued success from newly launched products. In Canada, Other Wealth sales were down 12% due to challenging market conditions and product changes.

Generated new business value (“NBV”) of $272 million in 2Q16, up 34% from 2Q15.
The increase in NBV was driven by strong growth in Asia, partially offset by the impact of lower interest rates in North America. In Asia, NBV increased 47% on a constant currency basis to $227 million, driven primarily by higher volumes across the region, and higher product margins in Asia Other.

Reported Core EBITDA1 from our WAM businesses of $288 million, down 11% from 2Q15.
The decrease in Core EBITDA primarily reflects the impact of market volatility on fee income, shifts in business mix, and strategic investments to expand our distribution reach in Europe and Asia and to optimize our operational infrastructure.

___________________
1 Core earnings before interest, taxes, depreciation and amortization.

Achieved total assets under management and administration (“AUMA”) of $934 billion as at June 30, 2016.
Assets under management and administration increased 3% from the prior year. WAM AUMA increased 8% from the prior year to $503 billion, driven by net inflows and investment performance.

Financial Strength:

Reported a strong Minimum Continuing Capital and Surplus Requirements (“MCCSR”) ratio of 236% for The Manufacturers Life Insurance Company (“MLI”) as at June 30, 2016.

The three point increase from the prior quarter was largely the result of the senior and subordinated debt issuances totaling $1.8 billion, partially offset by growth in required capital, primarily due to lower interest rates.

Reported a financial leverage ratio of 29.7% at June 30, 2016.

Our financial leverage increased 1.8 percentage points from 1Q16 reflecting the $1.3 billion (US$1.0 billion) senior debt issuance in Taiwan and the $479 million (S$500 million) subordinated note issuance in Singapore.

Estimate a post-tax charge for the annual review of actuarial methods and assumptions of up to $500 million.

In the third quarter of 2016, we will complete our annual review of actuarial methods and assumptions. While the review is not complete and the impact is difficult to estimate with precision, preliminary indications are that the impact could be a charge to net income attributed to shareholders of up to $500 million post-tax.1 Assumptions being reviewed this year include policyholder experience assumptions related to Long Term Care and U.S. Variable Annuity business, and reinvestment assumptions used in the valuation of our policy liabilities.

HOW OUR BUSINESSES PERFORMED

Asia Division

Business highlights:

In Asia, we continued to deliver on our growth trajectory with annualized premium equivalent sales (“APE sales”) and NBV up 34% and 47%, respectively, from the prior year period. The APE sales performance reflects strong double digit growth in all key markets, with the exception of Japan, where sales volume was impacted by our pricing actions in response to declines in interest rates and increased competition. Our DBS partnership continued to experience strong momentum with all four markets recording growth in sales from 1Q16. We generated our second highest WAM gross flows on record, driven by the launch of the first U.S. property REIT in Singapore and strong mutual fund sales in mainland China. We also continued to enhance our customer-facing technology during the quarter, as we began to handle claims via WeChat in mainland China and introduced the second generation of our electronic point-of-sale tool in Hong Kong, which features increased financial-needs analysis capabilities.

Earnings2:

Core earnings was US$266 million in 2Q16 compared with US$230 million in 2Q15, an increase of 16%. Excluding the impact of changes in foreign currency rates, the increase was US$29 million, or 12%. The increase was driven by continued strong growth in new business volumes, partially offset by less favourable policyholder experience and the impact of declining interest rates.

Net income attributed to shareholders was US$22 million in 2Q16 compared with US$247 million in 2Q15, a decrease of 91%, and items excluded from core earnings in 2Q16 included charges of US$244 million primarily related to the direct impact of equity markets and interest rates.

___________________
1 See “Caution regarding forward-looking statements” below.
2 The 2015 earnings on assets backing capital allocated to each operating segment have been restated to align with the methodology used in 2016. Amounts are expressed in U.S. dollars, the presentation currency of the division.

Sales:

Annualized premium equivalent sales in 2Q16 were a record at US$627 million, 34% higher than 2Q15. We achieved double digit growth in most territories and record sales in Asia Other. Insurance sales were US$510 million and other wealth APE sales were US$117 million, up 30% and 58% from 2Q15, respectively. Year-to-date APE sales of US$1.2 billion were 41% higher than the same period in 2015. (Percentages quoted below are for the period 2Q16 compared with 2Q15, unless stated otherwise.)

Japan APE sales in 2Q16 of US$245 million were at a similar level as in 2Q15. Sales were impacted by our pricing actions in response to declines in interest rates, and increased competition.
Hong Kong APE sales in 2Q16 of US$123 million increased 40%, reflecting improved diversification and effectiveness of our distribution channels.
Asia Other (excludes Japan and Hong Kong) reported record APE sales in 2Q16 of US$259 million, an increase of 92%. This was driven by record sales in Singapore, Philippines, and Vietnam and double digit sales growth in all territories except for Thailand. Sales increased significantly in Singapore and mainland China, with growth of 275% and 75%, respectively.
Wealth and Asset Management gross flows in 2Q16 of US$3.5 billion decreased 29% and net flows in 2Q16 of US$1.3 billion decreased US$1.2 billion compared with 2Q15. Gross and net flows decreased compared to record prior year levels as the prior year benefited from a sharp rise in mainland China’s local equity markets, which drove significant mutual fund inflows. During the quarter, we successfully sponsored the initial public offering (“IPO”) of the first U.S. property REIT in Singapore. The IPO generated third-party inflows of US$470 million of which half were contributed by retail clients and reported in Asia, and the other half by institutional clients and reported in Corporate and Other. Year-to-date WAM gross flows of US$6.0 billion were 21% lower than the same period in 2015.

Japan gross flows in 2Q16 of US$130 million increased 5% compared with 2Q15, as the contribution from the successful launch of a new mutual fund was dampened by equity market volatility.
Hong Kong gross flows in 2Q16 of US$601 million decreased 11% compared with 2Q15, driven by lower mutual fund sales.
Asia Other gross flows in 2Q16 of US$2.8 billion decreased 33% compared with 2Q15 driven by lower mutual fund sales in mainland China. Asia Other gross flows increased 45% compared with 1Q16 due to the IPO noted above.
New Business Value:

New business value in 2Q16 was US$176 million, a 47% increase compared with 2Q15, reflecting the above noted increase in APE sales and a 2.3 percentage point increase in new business value margin. Year-to-date NBV of US$337 million was 57% higher than the same period in 2015.

Japan NBV in 2Q16 of US$51 million increased 20% as a result of improved product margins from pricing actions mentioned above and favourable product mix, partially offset by further declines in interest rates.
Hong Kong NBV in 2Q16 of US$68 million increased 16% reflecting growth across all of our channels, especially in non-agency channels reflecting improved diversification of our business.
Asia Other NBV in 2Q16 of US$57 million tripled as a result of increased sales and management actions to improve margins.
Canadian Division

Business highlights:

In Canada, we delivered strong gross flows in our WAM businesses despite challenging market conditions, and we continued to outperform the mutual fund industry in terms of net flows.1 While our Retail Insurance sales were in line with the prior year period, we reported lower overall insurance sales as a result of the inherent variability in the large-case Group Benefits segment. We continued to focus on making it easier for customers to do business with us and in 2Q16 we extended life insurance eligibility to Canadians with human immunodeficiency virus (HIV) and simplified our medical underwriting process for lower coverages.

Earnings2:

Core earnings was $333 million in 2Q16 compared with $303 million in 2Q15, an increase of 10%. The $30 million increase reflects improved policyholder experience and increased wealth and asset management fee income, partially offset by the non-recurrence of reinsurance treaty recapture gains in 2Q15.

Net income attributed to shareholders was $359 million compared with $190 million in 2Q15, an increase of 89%. The variance primarily relates to the favourable impact of fair value accounting in 2Q16 versus unfavourable impacts in 2Q15, partially offset by higher integration expenses.

___________________
1 As reported by the Funds Institute of Canada, for the 12-month period ended June 2016.
2 The 2015 earnings on assets backing capital allocated to each operating segment have been restated to align with the methodology used in 2016.

Sales:

WAM gross flows in 2Q16 were $4.2 billion, an increase of 7% compared to 2Q15 with continued strong Mutual Fund flows and large-case deposits in Group Retirement Services (“GRS”). We reported net flows in 2Q16 of $1.3 billion, in line with 2Q15 as increased deposits in Mutual Funds were partially offset by higher GRS surrenders. Year-to-date gross flows were $8.4 billion, in line with the same period in 2015. Assets under management for our WAM businesses at June 30, 2016 were $104.5 billion, an increase of 7% compared with June 30, 2015, driven by strong net flows in all businesses and favourable market experience.

Mutual Fund gross flows of $2.3 billion in 2Q16 increased $0.3 billion or 14% compared with 2Q15.
GRS gross flows of $1.9 billion in 2Q16 were consistent with 2Q15.
Other Wealth sales of $816 million in 2Q16 were $107 million or 12% lower than 2Q15 and on a year-to-date basis, were $1.8 billion or 10% lower than the prior year period, as a result of unfavourable equity market sentiment and product changes.

Segregated Fund Product1 sales were $604 million, a decrease of 21% compared with 2Q15.
Fixed Product sales were $212 million, an increase of 34% compared with 2Q15, reflecting the success of product enhancements.
Manulife Bank net lending assets of $19.6 billion as at June 30, 2016, were up slightly from a year ago, as growth continued to be impacted by intense competition in the residential mortgage market.

Insurance sales in 2Q16 of $120 million decreased 28% compared with 2Q15 and year-to-date sales of $275 million decreased 28% compared with the prior year period, both due to variability in the large-case Group Benefits segment.

Retail Insurance sales in 2Q16 of $47 million decreased by 2% compared with 2Q15 driven by competitive rate pressures on term products, partially offset by higher Universal Life sales resulting from pricing actions.
Institutional Markets sales in 2Q16 of $73 million decreased 38% compared with 2Q15 primarily due to the inherent variability in the large-case Group Benefits segment.
U.S. Division

Business highlights:

In the U.S., we delivered solid gross flows in our pension business, with success originating from both the small- and mid-market segments. We have integrated New York Life’s pension business and have exceeded our targets for sales and retention in the first 12 months post acquisition. We expanded the Vitality program by adding two term insurance options which offer either lower fees or streamlined customer application processes and enhanced customer rewards. Heightened competition and challenging market conditions impacted insurance sales and John Hancock Investments (“JH Investments”) experienced a modest level of net outflows following 18 consecutive quarters of positive net flows.

Earnings2:

Core earnings was US$280 million in 2Q16 compared with US$313 million in 2Q15, a decrease of 11%. The US$33 million decrease was driven by adverse policyholder experience in John Hancock Long Term Care (“JH LTC”), the non-recurrence of favourable policy related items from 2Q15 and lower new business gains in Insurance from lower sales as well as the timing of certain marketing spend. Lower fee income in WAM businesses attributable to the impact of market volatility and shifts in business mix also contributed to the decrease.

Net income attributed to shareholders was US$316 million in 2Q16 compared with US$135 million in 2Q15, an increase of 134%. The increase was due to a significantly smaller charge in 2Q16 related to the direct impact of equity markets and interest rates compared with 2Q15.

___________________
1 Segregated fund products include guarantees. These products are also referred to as variable annuities.
2 The 2015 earnings on assets backing capital allocated to each operating segment have been restated to align with the methodology used in 2016. Amounts are expressed in U.S. dollars, the functional currency of the division.

Sales:

WAM gross flows in 2Q16 of US$11.7 billion increased 5% compared with 2Q15, driven by the contribution from robust mid-market sales in John Hancock Retirement Plan Services (“JH RPS”). Net flows were US$82 million for the quarter and US$102 million for year-to-date, compared with US$1,466 million and US$3,220 million in the prior year periods, respectively. Year-to-date gross flows of US$24.4 billion increased 17% compared with the prior year period.

JH Investments reported 2Q16 gross flows of US$6.5 billion, a decrease of 6% compared with 2Q15 and net outflows of US$315 million, ending a streak of 18 consecutive quarters of positive net flows. These results were driven by continued market volatility, large portfolio reallocations among a few of our institutional clients, and year-to-date underperformance in a few key funds which have provided a challenging retail sales environment. Assets under management increased to US$84.9 billion as at June 30, 2016, up 6% from June 30, 2015 and year-to-date we continued to achieve growth in gross flows over the prior year while the overall intermediary sold mutual fund industry’s sales have declined. Our 12-month trailing organic growth rate through June 2016 (calculated as net new flows as a percentage of beginning assets) was 8% compared with an industry decline of 2%1.
JH RPS 2Q16 gross flows of US$5.2 billion increased 23% compared with 2Q15. This was driven primarily by strong new plan sales in both the core small case and mid-market segments and strong recurring contributions. Our pricing and service offerings in our core small case market combined with our strong capabilities in mid-market specialized union plans continued to drive sales momentum.
Insurance sales in 2Q16 of US$107 million decreased 9% compared with 2Q15 and year-to-date sales of US$229 million decreased 3% compared with the same period of 2015.

JH Life sales in 2Q16 of US$98 million decreased 9% compared with 2Q15 reflecting aggressive pricing of guaranteed Universal Life products in the market. We launched Vitality Term’16 in May and made enhancements to the Vitality customer rewards program.
JH LTC sales in 2Q16 of US$9 million decreased 15% compared with 2Q15, reflecting lower retail sales.
Corporate and Other

Corporate and Other is composed of: investment performance on assets backing capital, net of amounts allocated to operating divisions and financing costs; Investment Division’s external asset management business; Property and Casualty (“P&C”) Reinsurance business; as well as run-off reinsurance operations including variable annuities and accident and health.

Corporate and Other reported a net loss attributed to shareholders of $90 million in 2Q16 compared with a net loss of $59 million in 2Q15; a core loss of $203 million in 2Q16 compared with a core loss of $69 million in 2Q15; and items excluded from core loss amounted to gains of $113 million in 2Q16 compared to gains of $10 million in 2Q15.

The $134 million unfavourable variance in core loss included $51 million of investment-related experience gains in 2Q15 compared with nil in 2Q16 and $32 million of higher expected macro hedging costs from increased hedging activity. The remaining $51 million decline consisted of higher interest expense on external debt due to recent debt issuances, lower realized gains on AFS equities, higher expenses related to strategic initiatives and the impact of a strengthening U.S. dollar on interest allocated to the U.S. and Asia divisions when expressed in Canadian dollars.

The $103 million favourable variance in items excluded from core loss included the $51 million reclassification of investment-related experience gains in 2Q15, as well as higher realized gains on the sale of AFS bonds and other mark-to-market gains on assets held at fair value.

CORPORATE ITEMS

In a separate news release today, the Company announced that the Board of Directors approved a quarterly shareholders’ dividend of 18.5 cents per share on the common shares of MFC, payable on and after September 19, 2016 to shareholders of record at the close of business on August 16, 2016.

The Board of Directors also approved that, in respect of MFC’s September 19, 2016 common share dividend payment date, and pursuant to MFC’s Canadian Dividend Reinvestment and Share Purchase Plan and its U.S. Dividend Reinvestment and Share Purchase Plan, the required common shares be purchased on the open market. The purchase price of such shares will be based on the average of the actual cost to purchase such common shares. There are no applicable discounts because the common shares are being purchased on the open market and are not being issued from treasury.

___________________
1 Source: Strategic Insight: ICI Confidential. Direct Sold mutual funds, fund-of-funds and ETFs are excluded. Organic sales growth rate is calculated as net new flows divided by beginning period assets. Industry data through June 2016.

Awards & Recognition

In Canada, Manulife Bank was presented with an Employment Equity Achievement Award from Employment and Social Development Canada for improved representation in all designated employment equity groups. This award recognizes employers that achieved the highest increase in representation in their sector between 2010 and 2014 for persons with disabilities, members of visible minorities, women and Aboriginal peoples.

In Hong Kong, Manulife received two Gold awards at the Reader’s Digest Trusted Brands Awards in the Insurance Company and Provident Fund categories. Manulife won the award for the 13th consecutive year in the Insurance Company category, and for the 5th time in the Provident Fund category.

In Vietnam, Manulife received the “Trusted Product, Perfect Service, Favorite Brand” Award by the Intellectual Property and Creativity Magazine. The award was based on results from an annual survey that was jointly facilitated by Intellectual Property and Creativity Magazine and the Vietnam Association of Intellectual Property.

In the U.S., John Hancock’s acquisition of New York Life’s Retirement Plan Services business was named “Deal of the Year” at the Mutual Fund Industry Awards. In its 23rd year, the Awards, sponsored by Fund Industry Intelligence, recognized people and organizations that stand out for their excellence, achievements and contributions to the mutual fund industry.

Manulife Asset Management has been ranked among the world’s largest money managers, as of December 31, 2015, according to Pensions & Investments Magazine’s latest annual ranking. The firm moved up to #28 from #32. The publication ranked and provided data on 604 global asset management firms.

Notes:

Manulife Financial Corporation will host a Second Quarter Earnings Results Conference Call at 2:00 p.m. ET on August 4, 2016. For local and international locations, please call 416-340-8530 and toll free in North America please call 1-800-769-8320. Please call in ten minutes before the call starts. You will be required to provide your name and organization to the operator. A replay of this call will be available by 6:00 p.m. ET on August 4, 2016 through August 18, 2016 by calling 905-694-9451 or 1-800-408-3053 (passcode: 3695529).

The conference call will also be webcast through Manulife’s website at 2:00 p.m. ET on August 4, 2016. You may access the webcast at: http://www.manulife.com/quarterlyreports. An archived version of the webcast will be available at 6:00 p.m. ET on the website at the same URL as above.

The Second Quarter 2016 Statistical Information Package is also available on the Manulife website at: http://www.manulife.com/quarterlyreports.

Financial Highlights

Quarterly Results

YTD Results

(C$ millions, unless otherwise stated, unaudited)

2Q16

1Q16

2Q15

2016

2015

Net income attributed to shareholders

$

704

$

1,045

$

600

$

1,749

$

1,323

Preferred share dividends

(37)

(29)

(29)

(66)

(58)

Common shareholders’ net income

$

667

$

1,016

$

571

$

1,683

$

1,265

Core earnings(1)

$

833

$

905

$

902

$

1,738

$

1,699

Basic earnings per common share (C$)

$

0.34

$

0.51

$

0.29

$

0.85

$

0.65

Diluted earnings per common share (C$)

$

0.34

$

0.51

$

0.29

$

0.85

$

0.64

Diluted core earnings per common share (C$)(1)

$

0.40

$

0.44

$

0.44

$

0.84

$

0.83

Return on common shareholders’ equity (“ROE”)

7.1%

10.8%

6.4%

8.9%

7.4%

Core ROE(1)

8.4%

9.3%

9.8%

8.9%

9.6%

Sales(1)

Insurance products

$

914

$

954

$

771

$

1,868

$

1,550

Wealth and Asset Management gross flows(1)

$

26,644

$

28,228

$

34,892

$

54,872

$

57,735

Wealth and Asset Management net flows(1)

$

4,822

$

1,676

$

14,494

$

6,498

$

21,125

Other Wealth products

$

2,000

$

2,384

$

1,773

$

4,384

$

3,540

Premiums and deposits(1)

$ 8,422

$ 8,186

$ 7,116

$ 16,608

$

14,274

Insurance products

Wealth and Asset Management products

$

26,644

$

28,228

$

34,892

$

54,872

$

57,735

Other Wealth products

$

1,712

$

1,441

$

1,694

$

3,153

$

3,160

Corporate and Other

$

21

$

22

$

21

$

43

$

40

Assets under management and administration (C$ billions)(1)

$

934

$

904

$

883

$

934

$

883

Capital (C$ billions)(1)

$

50.9

$

49.4

$

45.5

$

50.9

$

45.5

MLI’s MCCSR ratio

236%

233%

236%

236%

236%

(1)

This item is a non-GAAP measure.

Performance and Non-GAAP Measures

We use a number of non-GAAP financial measures to measure overall performance and to assess each of our businesses. A financial measure is considered a non-GAAP measure for Canadian securities law purposes if it is presented other than in accordance with generally accepted accounting principles used for the Company’s audited financial statements. Non-GAAP measures referenced in this presentation include: Core Earnings (Loss); Core ROE; Diluted Core Earnings Per Common Share; Core Investment Gains; Constant Currency Basis (measures that are reported on a constant currency basis include growth in Sales, Gross Flows, Premiums and Deposits, Core EBITDA, Asia NBV, and Assets under Management and Administration); Premiums and Deposits; Assets under Management; Assets under Management and Administration; Capital; New Business Value; New Business Value Margin; Sales; APE Sales; Gross Flows and Net Flows. Non-GAAP financial measures are not defined terms under GAAP and, therefore, are unlikely to be comparable to similar terms used by other issuers. Therefore, they should not be considered in isolation or as a substitute for any other financial information prepared in accordance with GAAP. For more information on non-GAAP financial measures, including those referred to above, see “Performance and Non-GAAP Measures” in our 2Q16 and 2015 Management’s Discussion and Analysis.

The following table summarizes for the past eight quarters core earnings and net income (loss) attributed to shareholders.

Total Company

Quarterly Results

(C$ millions, unaudited)

2Q16

1Q16

4Q15

3Q15

2Q15

1Q15

4Q14

3Q14

Total core earnings

833

905

859

870

902

797

713

755

Investment-related experience outside of core earnings

60

(340)

(361)

(169)

77

(77)

(403)

320

Core earnings plus investment-related experience

893

565

498

701

979

720

310

1,075

outside of core earnings

Other items to reconcile core earnings to net income

attributed to shareholders:

Direct impact of equity markets and interest rates and

(170)

474

(29)

232

(309)

13

377

70

variable annuity guarantee liabilities (details below)

Recapture of reinsurance treaties

(52)

12

24

Change in actuarial methods and assumptions

12

(97)

(285)

(47)

(22)

(59)

(69)

Integration and acquisition costs

(19)

(14)

(39)

(26)

(54)

(30)

12

Tax related items

1

2

31

30

Other items

7

(37)

Net income attributed to shareholders

$

704

$

1,045

$

246

$

622

$

600

$

723

$

640

$

1,100

Other market-related factors

Direct impact of equity markets and variable annuity

$

(97)

$

(150)

$

77

$

(419)

$

28

$

15

$

(142)

$

(35)

guarantee liabilities

Gains (charges) on higher (lower) fixed income reinvestment

(113)

407

(97)

647

(362)

13

533

165

rates assumed in the valuation of policy liabilities

Gains (charges) on sale of AFS bonds and derivative

40

217

(9)

4

25

(15)

(14)

(15)

positions in the Corporate segment

Charges due to lower fixed income URR assumptions

(45)

used in the valuation of policy liabilities

Direct impact of equity markets and interest rates and

$

(170)

$

474

$

(29)

$

232

$

(309)

$

13

$

377

$

70

variable annuity guarantee liabilities

Asia Division

Quarterly Results

(C$ millions, unaudited)

2Q16

1Q16

4Q15

3Q15

2Q15

1Q15

4Q14

3Q14

Asia Division core earnings(1)

$

342

$

371

$

334

$

338

$

283

$

279

$

260

$

273

Investment-related experience outside of core earnings

(25)

(20)

(3)

21

7

(2)

27

Core earnings plus investment-related experience

317

351

331

359

290

279

258

300

outside of core earnings

Other items to reconcile core earnings to net income

attributed to shareholders

Direct impact of equity markets and interest rates and

(287)

(238)

76

(248)

15

(17)

78

32

variable annuity guarantee liabilities

Tax-related items

10

2

(2)

20

Integration and acquisition costs

(2)

(2)

Net income attributed to shareholders(1)

$

28

$

121

$

409

$

111

$

303

$

282

$

336

$

332

(1) The 2015 earnings on assets backing capital allocated to each operating segment have been restated to align with the methodology used in 2016.

Canadian Division

Quarterly Results

(C$ millions, unaudited)

2Q16

1Q16

4Q15

3Q15

2Q15

1Q15

4Q14

3Q14

Canadian Division core earnings(1)

$

333

$

338

$

352

$

336

$

303

$

261

$

224

$

243

Investment-related experience outside of core earnings

(88)

(78)

(180)

(144)

14

(81)

(199)

19

Core earnings plus investment-related experience

245

260

172

192

317

180

25

262

outside of core earnings

Other items to reconcile core earnings to net income

attributed to shareholders

Direct impact of equity markets and interest rates and

130

346

(201)

97

(114)

(65)

48

variable annuity guarantee liabilities

Recapture of reinsurance treaty and tax-related items

(52)

1

12

24

Integration and acquisition costs

(16)

(6)

(23)

(13)

(14)

(9)

Net income (loss) attributed to shareholders(1)

$

359

$

600

$

(104)

$

276

$

190

$

118

$

73

$

286

(1) The 2015 earnings on assets backing capital allocated to each operating segment have been restated to align with the methodology used in 2016.

U.S. Division

Quarterly Results

(C$ millions, unaudited)

2Q16

1Q16

4Q15

3Q15

2Q15

1Q15

4Q14

3Q14

U.S. Division core earnings(1)

$

361

$

389

$

332

$

375

$

385

$

374

$

338

$

342

Investment-related experience outside of core earnings

93

(233)

(146)

(34)

64

(9)

(154)

319

Core earnings plus investment-related experience

454

156

186

341

449

365

184

661

outside of core earnings

Other items to reconcile core earnings to net income

(loss) attributed to shareholders

Direct impact of equity markets and interest rates and

(47)

82

142

174

(251)

99

322

18

variable annuity guarantee liabilities

Integration and acquisition costs

(4)

(5)

(8)

(32)

Other items

7

Net income attributed to shareholders(1)

$

407

$

241

$

323

$

507

$

166

$

464

$

506

$

679

(1) The 2015 earnings on assets backing capital allocated to each operating segment have been restated to align with the methodology used in 2016.

Corporate and Other

Quarterly Results

(C$ millions, unaudited)

2Q16

1Q16

4Q15

3Q15

2Q15

1Q15

4Q14

3Q14

Corporate and Other core loss (excluding expected cost

$

(125)

$

(107)

$

(85)

$

(66)

$

(74)

$

(73)

$

(112)

$

(107)

of macro hedges and core investment gains) (1)

Expected cost of macro hedges

(78)

(86)

(74)

(62)

(46)

(44)

(47)

(46)

Investment-related experience included in core earnings

(51)

51

50

50

Total core loss

(203)

(193)

(159)

(179)

(69)

(117)

(109)

(103)

Investment-related experience outside of core earnings

80

(9)

(32)

(12)

(8)

13

(48)

(45)

Core loss plus investment-related experience outside

(123)

(202)

(191)

(191)

(77)

(104)

(157)

(148)

of core earnings

Other items to reconcile core earnings (loss) to net income

(loss) attributed to shareholders

Direct impact of equity markets and interest rates and

34

284

(46)

209

41

(4)

(71)

20

variable annuity guarantee liabilities

Changes in actuarial methods and assumptions

12

(97)

(285)

(47)

(22)

(59)

(69)

Integration and Acquisition Costs

(1)

(2)

(11)

(5)

(8)

(21)

12

Tax-related items

(9)

32

10

Other items

(37)

Net income (loss) attributed to shareholders(1)

$

(90)

$

83

$

(382)

$

(272)

$

(59)

$

(141)

$

(275)

$

(197)

(1) The Corporate and Other segment includes earnings on assets backing capital net of amounts allocated to operating divisions. The 2015 earnings on assets backing
capital allocated to each operating segment have been restated to align with the methodology used in 2016.

Caution regarding forward-looking statements

From time to time, MFC makes written and/or oral forward-looking statements, including in this document. In addition, our representatives may make forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the “safe harbour” provisions of Canadian provincial securities laws and the U.S. Private Securities Litigation Reform Act of 1995.

The forward-looking statements in this document include statements about the estimated impact of the annual review of actuarial methods and assumptions and also relate to, among other things, our objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “suspect”, “outlook”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “forecast”, “objective”, “seek”, “aim”, “continue”, “goal”, “restore”, “embark” and “endeavour” (or the negative thereof) and words and expressions of similar import, and include statements concerning possible or assumed future results. Although we believe that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements and they should not be interpreted as confirming market or analysts’ expectations in any way.

Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements.

Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to the performance, volatility and correlation of equity markets, interest rates, credit and swap spreads, currency rates, investment losses and defaults, market liquidity and creditworthiness of guarantors, reinsurers and counterparties); changes in laws and regulations; changes in accounting standards applicable in any of the territories in which we operate; changes in regulatory capital requirements; our ability to execute strategic plans and changes to strategic plans; downgrades in our financial strength or credit ratings; our ability to maintain our reputation; impairments of goodwill or intangible assets or the establishment of provisions against future tax assets; the accuracy of estimates relating to morbidity, mortality and policyholder behaviour; the accuracy of other estimates used in applying accounting policies, actuarial methods and embedded value methods; our ability to implement effective hedging strategies and unforeseen consequences arising from such strategies; our ability to source appropriate assets to back our long-dated liabilities; level of competition and consolidation; our ability to market and distribute products through current and future distribution channels, including through our collaboration arrangements with Standard Life plc, bancassurance partnership with DBS Bank Ltd and distribution agreement with Standard Chartered; unforeseen liabilities or asset impairments arising from acquisitions and dispositions of businesses, including with respect to the acquisitions of Standard Life, New York Life’s Retirement Plan Services business and Standard Chartered’s MPF and Occupational and Retirement Schemes Ordinance (“ORSO”) businesses; the realization of losses arising from the sale of investments classified as available-for-sale; our liquidity, including the availability of financing to satisfy existing financial liabilities on expected maturity dates when required; obligations to pledge additional collateral; the availability of letters of credit to provide capital management flexibility; accuracy of information received from counterparties and the ability of counterparties to meet their obligations; the availability, affordability and adequacy of reinsurance; legal and regulatory proceedings, including tax audits, tax litigation or similar proceedings; our ability to adapt products and services to the changing market; our ability to attract and retain key executives, employees and agents; the appropriate use and interpretation of complex models or deficiencies in models used; political, legal, operational and other risks associated with our non-North American operations; acquisitions and our ability to complete acquisitions including the availability of equity and debt financing for this purpose; the failure to realize some or all of the expected benefits of the acquisitions of Standard Life, New York Life’s Retirement Plan Services business and Standard Chartered’s MPF and ORSO businesses; the disruption of or changes to key elements of the Company’s or public infrastructure systems; environmental concerns; our ability to protect our intellectual property and exposure to claims of infringement; and our inability to withdraw cash from subsidiaries.

Additional information about material risk factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found under “Risk Factors” in our most recent Annual Information Form, under “Risk Management”, “Risk Factors” and “Critical Accounting and Actuarial Policies” in the Management’s Discussion and Analysis in our most recent annual report, under “Risk Management and Risk Factors Update” and “Critical Accounting and Actuarial Policies” in the Management’s Discussion and Analysis in our most recent interim report, in the “Risk Management” note to consolidated financial statements in our most recent annual and interim reports and elsewhere in our filings with Canadian and U.S. securities regulators.

The forward-looking statements in this document are, unless otherwise indicated, stated as of the date hereof and are presented for the purpose of assisting investors and others in understanding our financial position and results of operations, our future operations, as well as our objectives and strategic priorities, and may not be appropriate for other purposes. We do not undertake to update any forward-looking statements, except as required by law.

For Further Information: Media Inquiries: Sean B. Pasternak, (416) 852-2745, sean_pasternak@manulife.com; Investor Relations: Robert Veloso, (416) 852-8982, robert_veloso@manulife.com

Source: Manulife Financial
Related stocks: NYSE:MFC Toronto:MFC
Related Links:
http://www.manulife.com

Written by asiafreshnews

August 5, 2016 at 2:39 pm

Posted in Uncategorized