Deutsche Bank Appointed by Euroclear as Cash Settlement and Foreign Exchange Bank in South Korea
PRYSMIAN AND AURUBIS ENTER INTO LONG-TERM SUPPLY CONTRACT FOR COPPER WIRE ROD
FXC Intelligence to announce the top 100 cross-border payments companies for 2024
Austrian tax and audit group Accurata joins Russell Bedford International
PRYSMIAN: MASSIMO BATTAINI IS THE NEW CEO AND GENERAL MANAGER
PRYSMIAN: 2023 Financial Statements Approved | Gori Chairman - Battaini CEO and GM
Remittances’ cash premium revealed to hit vulnerable customers the hardest
McKenzie Intelligence enters UK|CT Insurtech Corridor
WIDER RISKS OF ONLINE PIRACY IN SINGAPORE CONTINUE TO BE FELT AS SINGAPORE COURTS ORDER MORE SITES BLOCKED
Exclusive data from FXC Intelligence demonstrates the significance of PSD3
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Vitesco Technologies and DHL enter into strategic partnership
Vitesco Technologies focuses on maximum sustainability, resilience and efficiency in logistics. Key to this is a new strategic partnership with DHL Supply Chain as a Lead Logistics Partner (LLP). As of March 2024, the logistics flows of Vitesco Technologies’ twelve European locations will be centrally managed by DHL through the LLP Center of Excellence in Warsaw, Poland. This corresponds to around 100,000 transport movements within the supply chain to the plants as well as from the plants to the customers – and thus accounts for about a third of Vitesco Technologies’ total freight volume. “The main driver of our business is the development and production of sustainable technologies for the mobility of tomorrow. We want to run this business in a CO2-neutral way by 2040. Sustainable logistics solutions are an important step along this path, which we will be taking together with DHL Supply Chain in the future,” says Thomas Kirchermeier, Head of Supply Chain Management at Vitesco Technologies. The big advantage of the new logistics concept is that, as a lead logistics partner, DHL Supply Chain bundles the freight volumes of numerous large companies in order to generate synergy effects and thus achieves new potentials for optimization. The logistics experts make use of the entire market of freight carriers and forwarding agents and can provide the fastest, safest, most environmentally friendly and most cost-effective transport solutions. This benefits Vitesco Technologies and all customers: supply chains become more robust and more reliable. Intelligent logistics helps to reduce Greenhouse Gas Emissions Central freight management by a leading global logistics provider such as DHL also enables the maximum transparency of transport routes – which not only benefits efficiency, but also reduces greenhouse gas emissions. This is achieved by combining deliveries that were previously handled separately or by increasingly relying on low and zero carbon emissions transportation. This is where Vitesco Technologies’ expertise in the field of electromobility meets DHL’s practical experience, as the company operates the largest fleet of electric vehicles within the logistics sector. “The first joint pilot projects have already shown that we can leverage considerable synergies through a seamlessly integrated supply chain. The cost savings and efficiencies that we have already been able to realize together with Vitesco Technologies are now paving the way for further global growth. With our focus on a consistent standardization and orchestration of logistics processes, we want to further minimize greenhouse gas emissions, maximize the efficiency of supply chains and improve their resilience in the coming years,” says Hendrik Venter, CEO DHL Supply Chain Europe, Middle East & Africa.
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PRYSMIAN TO ACQUIRE WARREN & BROWN, AUSTRALIAN LEADER IN TELECOMMUNICATION NETWORK CONNECTIVITY PRODUCTS
Prysmian, leader in the energy transition and digital transformation, announces to have signed an agreement to acquire Warren & Brown Technologies, the Australian leader in telecommunication network connectivity products. The acquisition represents a strategic milestone for both companies, combining Prysmian’s expertise in Digital Solutions technologies with Warren & Brown’s resources, capabilities and strength in enterprise solutions for the Telecom market. The transaction is in line with Prysmian’s “Connect, to lead” strategy to become a global solution provider to enable energy transition and digital transformation. Warren & Brown is the Australian leader in telecommunication network connectivity products, providing solutions to telecom operators for various applications mainly in the business of FTTA and FTTH & Data Centre. Founded in 1921, the Company is headquartered in Melbourne, operates 3 main production sites, 2 in Australia (Melbourne) and 1 in Philippines (Manila) and generates annual revenue of approx. 90 million AUD (approx. €55 million) The transaction is subject to regulatory approvals and customary conditions.
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Unlocking Success Across Industries: Unmissable Insights at IAAPA Expo Asia 2024
In the dynamic world of the attractions industry, trends are constantly shifting, presenting both challenges and opportunities. From technological advancements to changing consumer preferences, every facet of an amusement park must be agile and innovative to successfully navigate an ever-evolving landscape – a dynamic that is not just limited to the attractions industry. This year, IAAPA, the leading global association for amusement facilities and attractions, is addressing these challenges head on at IAAPA Expo Asia 2024, held May 27-30 at the Queen Sirikit National Convention Centre in Bangkok, Thailand, under the theme "Shape Your Evolution at IAAPA Expo Asia: Evolve your business into a leading market player". By registering for the expo’s education sessions, attendees will have the opportunity to learn invaluable insights direct from some of the region's leading executives and professionals who have successfully navigated these complex waters. The sessions cover a broad range of topics, including personnel development, merchandise and F&B trends, revenue diversification strategies, and enhanced guest experiences. This is a unique opportunity to learn from the best in the business and to equip yourself with the knowledge and skills needed to help your business thrive in any industry. The education sessions at this year’s expo can be grouped into five main categories. Let’s look at each in more detail. 1. Professional Development and Industry Insights Learn the tools you need to grow your career within the attractions industry and gain a deeper understanding of the sector's global landscape. Several sessions will provide insights into various operational areas and best practices across different roles, as well as provide a comprehensive view of the trends and challenges shaping the Asia Pacific market. Ideal to help business owners and executives make more informed strategic decisions. 2. Operational Excellence and Maintenance Gain invaluable insights and enhance your understanding of operating efficient and safe amusement parks or attractions with these comprehensive sessions. Dive into the intricate details of topics such as value engineering, including its calculation methods and process steps. Explore effective maintenance planning and asset management strategies with an emphasis on how diligent maintenance practices can lead to substantial cost savings, increased value, and long-term success that prioritizes safety. 3. Guest Experience and Services Immerse yourself in sessions dedicated to taking guest experiences to new heights and effectively managing guest expectations. Discover the secrets to creating unforgettable moments through impactful communication, empowering frontline staff, and utilizing feedback to enhance operational excellence. In addition, explore critical topics such as crisis management and emergency preparedness, equipping you with essential response coordination skills to ensure the safety of both guests and staff during unforeseen circumstances. 4. Revenue Diversification and Business Strategies Discover groundbreaking strategies to diversify your revenue streams and maximize profitability within these enlightening sessions. Uncover innovative approaches to expand your attractions' revenue beyond ticket sales by capitalizing on opportunities in games, F&B, merchandise, and rental services. Explore how leveraging beloved intellectual properties (IPs) and cultivating strategic partnerships with globally recognized brands can create profound emotional connections with your guests. 5. Technology and Innovation Explore the transformative role of technology across industries and cutting-edge advancements that are poised to reshape guest interactions and marketing, such as predictive analytics and personalized content creation. Specific sessions will also dive into how AI could potentially revolutionize customer engagement, personalization, and operational optimization, as well as what this all means for the industry. - EDUTours at IAAPA Expo Asia 2024 In addition to the education sessions, IAAPA Expo Asia 2024 will also feature exclusive ‘EDUTours’ – a unique opportunity for attendees to go behind the scenes of Thailand's amusement and water parks. These tours will take attendees on a journey through some of Thailand’s premier parks, providing an immersive learning experience that goes beyond theory by offering a firsthand look at successful operations in action with unique insights provided by the parks’ lead executives. On the EDUTours, attendees will get an insider perspective on park operations, strategies for attracting and retaining guests, and how these businesses are navigating challenges unique to their locations and audiences. It's a rare learning opportunity that combines education, exploration, and direct interaction with industry veterans, giving attendees deep insights they can take away and use in their own business ventures. - Shape Your Evolution IAAPA Expo Asia 2024 is more than just an event; it is an excellent opportunity for learning, networking, and growth. By registering for the education sessions and EDUTours, attendees will gain a significant advantage in navigating the ever-evolving landscape of the attractions industry. The insights gleaned from them are not only pertinent but practical, providing actionable strategies that can be applied to various businesses, both in the attractions industry and beyond. From 27-30 May in Bangkok, Thailand, you too can have the opportunity to unlock your potential at IAAPA Expo Asia 2024. Do not miss this chance to learn from the best in the business, connect with like-minded professionals, and elevate your business to new heights. Discover the next evolutionary step of your business by registering today at https://www.iaapa.org/expos/iaapa-expo-asia
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Novidea Secures Additional $30 Million from HarbourVest Partners, Bringing Total Series C to $80 Million
Novidea, creator of the cloud-based, data-driven enterprise insurance management platform, today announced it has raised an additional $30 million from HarbourVest Partners, bringing its total Series C round to $80 million, joining existing investors Battery Ventures, Cross Creek, Israel Growth Partners (IGP), KT Squared, and JAL Ventures. To date, Novidea has raised $120 Million. Over the last several years, Novidea has experienced hyper-growth, selling to leading insurance organizations across the globe. Novidea will leverage the investment to continue its journey to becoming an industry leader. Funds will be used for continued organic expansion to additional territories to meet growing demand, accelerate product innovation, and support the execution of Novidea’s inorganic growth strategy. “We are delighted to partner with Novidea to support the company’s next phase of growth. We have invested in the insurance brokerage sector for years and have been impressed by the operational efficiencies that Novidea’s software solution delivers for brokers,” said Corentin du Roy, Managing Director, HarbourVest Partners. “We look forward to supporting the Novidea team as they continue to scale their activities internationally.” Digital transformation is the top priority for insurance organizations worldwide. As a result, technology spending in this sector is expected to grow by more than 25 percent by 2026. Innovative technology solutions that address the most urgent pain points, such as improving data quality and access, providing a seamless digital customer experience, and reducing repetitive processes for the insurance workforce, are in high demand. Earlier this year, Novidea released a comprehensive report underscoring the massive opportunity for Insurtechs, revealing that 75% of global insurance businesses plan to change their core technology in the next two years. “We are thrilled to welcome HarbourVest as our newest investment partner, along with our existing investors,” said Roi Agababa, CEO of Novidea. “The insurance sector is at a major inflection point, and we see significant growth potential as more organizations transition away from legacy technology in favor of innovative, modern solutions. With this investment, Novidea will have the resources we need to further refine our product, expand our operations into new territories, and explore the possibilities of making strategic acquisitions in this space.” Novidea’s cloud-native software platform enables insurance agents, brokers, MGAs, wholesalers, and specialty insurers to automate repetitive processes, drive operational efficiencies, and increase business resilience to stay competitive and provide a better customer experience. Over the last three years, Novidea has increased its headcount in multiple global regions, including the UK, North America, and Europe. The company also launched in Southeast Asia in late 2023. The company has recently augmented its senior leadership, including Chief Financial Officer Eran Ben Ezer, Chief Customer Officer Yaniv Cohen, Chief Technology Officer Erez Nissim, and Chief Revenue Officer Jeffrey Heine.
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New analysis reveals which money transfer companies have the best customer ratings
Today, FXC Intelligence published its analysis revealing the money transfer companies with the best customer ratings. This is the third year the market leading provider of cross-border payments data and intelligence has undertaken this research, having previously conducted similar assessments in 2021 and 2023, making it well-positioned to track changes in ratings across the past three years. Online reviews are critical when consumers are choosing their providers, with negative reviews posing serious red flags for any consumer considering whether to trust a company with their money. Tracking online reviews also provide a valuable indicator of the focus companies are placing on the digital sector, with notable improvements suggesting increased investment while sharp drops raise concerns. Of the 12 companies we assessed for this report, most had strong combined customer ratings in 2024. Looking at the changes between 2023 and 2024, most players have seen only minimal movement in both Trustpilot and app store ratings. However, there are some exceptions to this. PayPal’s remittance brand Xoom has seen a 0.9 decline in its Trustpilot rating, which may be a reflection of the lack of priority the ecommerce giant has placed on the brand in the last few years. By contrast, Ria has seen by far the biggest gain in its Trustpilot rating, which increased by 1.9 between 2023 and 2024, likely as a result of company efforts to improve this. The biggest change in movement between 2021 and 2024 was Xoom, which saw a bigger Trustpilot decline of 2.25. Lucy Ingham, Editor-in-Chief and Head of Content at FXC intelligence, said: “Price is not the only driving factor when consumers are choosing their money transfer providers – online reviews give customers a valuable preview into the experience they can expect and whether the company can be trusted with their money. “In a world where money movement is becoming increasingly digital, online reviews are paramount to a company’s success and offer valuable insight into a company's level of investment in digital platforms.”
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FXC Intelligence announces data and intelligence partnership with Intermex
FXC Intelligence, the market-leading provider of cross-border payments data and intelligence has announced a strategic alliance with Intermex, a leading omnichannel money transfer service provider. This collaboration marks a significant step forward in enhancing global money transfer operations with cutting-edge data intelligence. Under this partnership, FXC Intelligence will equip Intermex with its top-tier remittances benchmarking pricing data via a sophisticated pricing platform. This initiative aims to propel Intermex's growth, refining its omnichannel presence and extending its global reach. By tapping into FXC Intelligence’s comprehensive data, Intermex is set to gain invaluable insights into pricing trends, empowering the company to benchmark its services against competitors and capture competitive advantages in the ever-evolving market landscape. FXC Intelligence’s cross-border payments pricing datasets provide in-depth insights into pricing, speed and product capabilities across more than 25,000 corridors, spanning over 700 providers across 110+ countries. Ben Disley, Head of Commercial at FXC Intelligence, said: “With this partnership, I am confident that we can support Intermex achieving its goals of providing a comprehensive omnichannel experience for its consumers. By harnessing FXC Intelligence’s market leading data and insight, Intermex will be empowered to enhance its pricing strategy, ensuring satisfaction and value for its consumers. Remittances is a highly nuanced market segment and requires a deeply experienced, specialist expertise alongside high-quality, up-to-date data, which we provide” “This partnership underscores FXC Intelligence’s commitment to empowering payment providers with the knowledge needed to thrive in competitive and evolving markets.” Marcelo Theodoro, Chief Digital, Product & Marketing Officer at Intermex, said: "At the heart of our mission lies the commitment to our consumers' needs. A pivotal aspect of honoring this commitment is ensuring our services are offered at a just and equitable price. We deeply appreciate the hard work our consumers put into every dollar they remit and the profound impact of each dollar on the lives of their loved ones." "Positioned at the forefront of delivering a comprehensive omnichannel experience worldwide, our focus on crafting the perfect pricing strategy for each channel is key to advancing our winning strategy."
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Payment processors finding a new normal following post-pandemic austerity
Payment processors are beginning to find a new post-pandemic normal after consumer belt-tightening made for a challenging FY 2023, according to new earnings call analysis from FXC Intelligence, the market leading provider of cross-border payments data and intelligence. Looking at full year revenue, Paypal is inevitably in the lead, with almost double the FY 2023 revenue of Fiserv – the next largest player on this metric. Beyond this, however, there are some interesting developments. While on an extremely similar revenue line to Worldline and Worldpay, Square has pulled ahead for the last two years and is now moving closer to Global Payments, the third-largest player in terms of revenue. Adyen, meanwhile, is for the first time slightly ahead of Paysafe, while emerging markets-focused dLocal is closing the gap on both players. Every player saw revenue growth in 2023, however most players saw lower growth rates than in 2022, even among those on strong growth trajectories. The widespread discussion of macroeconomic conditions that has dominated earnings calls over the past year finally appeared to decline in Q4, in part due to the fact that holiday spending by consumers was not as soft as some feared. Lucy Ingham, Editor-in-Chief and Head of Content at FXC Intelligence, said: “By analysing payment processor’s earnings calls, FXC Intelligence is able to share how the industry is developing and the key trends that are evolving, and can identify where some players are pulling ahead of the competition. “There is a widespread feeling that payment processors are expecting 2024 to be easier as macroeconomic conditions begin to turn a corner. As we move into 2024, FXC Intelligence will be keeping a close eye on how pronounced this improvement will be.”
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FPG Fortune Prime Global Wins 2024 Brokersview Award for Best Trading Liquidity
FPG Fortune Prime Global (FPG), a leading ASIC regulated forex broker, is proud to announce its recent recognition at the prestigious 2024 Brokersview Award ceremony held in Dubai. FPG was honored with the esteemed title of "Best Trading Liquidity," solidifying its position as a top-tier provider of trading solutions in the global financial markets. The award was bestowed upon FPG following a comprehensive evaluation conducted by BV Live Trading assessment in key financial hubs including Singapore, Dubai, and Frankfurt, during December 2023. FPG emerged as the frontrunner in liquidity provision, outperforming industry peers and securing its position as the top choice for traders seeking optimal trading conditions. Commenting on the achievement, Claudio, Business Development Manager of FPG, expressed gratitude for the recognition and reaffirmed the company's commitment to excellence. "We are deeply honored to receive the Best Liquidity Broker award from BrokersView. This accolade is a testament to our unwavering dedication to providing superior trading conditions to our clients worldwide." FPG has been at the forefront of the forex industry, offering over 200 instruments to traders globally. With offices in Sydney and Melbourne, the company has been regulated by ASIC since 2011, ensuring transparency, security, and reliability for its clientele. FPG's commitment to delivering low spreads and lightning-fast executions has established it as a trusted partner for astute traders seeking competitive advantage in the markets. As FPG continues to innovate and evolve, it remains steadfast in its mission to empower traders with cutting-edge technology and unparalleled liquidity. The company extends its gratitude to Brokersview for the recognition and looks forward to continued success in serving the diverse needs of its clients worldwide.
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Correction Request for Press Release "Odoo Launches Payroll Solution in Hong Kong"
Odoo, a leading provider of business management software, is excited to announce the launch of its comprehensive payroll services in Hong Kong. Odoo Payroll is designed to simplify payroll management processes for businesses of all sizes. Odoo now supports users in processing batch salary payments via HSBC AutoPay and generating files for Manulife's MPF Contribution Remittance. The module ensures compliance with local regulations, including the calculation of average daily wages (ADW) for fluctuating income and salary structures as per Employment Ordinance 713 and Cap.57. Odoo Payroll seamlessly integrates with other Odoo apps, such as Time Off, Attendances, and Accounting, automating paid leaves, work entries, and various allowances and contributions, such as MPF contributions and rental deduction allowance. The module also offers robust reporting capabilities, enabling users to generate accurate reports for the Inland Revenue Department (IRD), HSBC AutoPay, and Manulife MPF. Employee records and details from Odoo Accounting flow seamlessly into the payroll system to ensure precise reporting. "The Payroll module is a significant addition to our offerings in Hong Kong. We are confident that Odoo will become the go-to solution for comprehensive and seamless business management," said Matts Fievez, Director at Odoo APAC. Odoo Payroll empowers businesses in Hong Kong to streamline their payroll operations, maintain compliance, and focus on core business objectives. For more information about Odoo Payroll and its features, please visit https://www.odoo.com/r/qUUV
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PRYSMIAN WINS THE “FTTH INNOVATION AWARD” WITH BENDBRIGHT 180 µM OPTICAL FIBRE
Prysmian, leader in the energy transition and digital transformation, is proud to announce to be the winner of the “FTTH Innovation Award” for the Passive Infrastructure category, with its groundbreaking optical fibre, BendBright 180µm. This recognition underscores Prysmian's commitment to pioneering advancements in the field of fibre optics and its dedication to delivering cutting-edge solutions to meet the evolving demands of the telecommunications industry. The FTTH Innovation Award, presented by the FTTH Council Europe, recognises the most innovative FTTH technology product solutions that support the FTTH Council Europe's key objectives like accelerating fibre roll-out, reducing cost and making roll-out more efficient, and promoting sustainable technologies. Prysmian's BendBright 180µm fibre has been selected as a standout innovation, demonstrating unparalleled excellence and ingenuity in advancing optical fibre technology. BendBright 180µm is currently the only reduced diameter 180µm optical fibre that is already colour coded, and it is designed to address the challenges of deploying fibre optic networks in increasingly demanding environments, without compromising performance or reliability. With its ultra-thin diameter, BendBright offers unmatched flexibility and bend resilience. Its unique attributes make it ideally suited for a wide range of applications, including urban, rural, and indoor environments, where space constraints and challenging conditions present significant obstacles to traditional fibre optic solutions. "We are honored to receive the FTTH Innovation Award for BendBright 180µm," said Ian Griffiths, VP R&D Digital Solutions at Prysmian when he received the Award in the occasion of the FTTH Conference in Berlin. "This recognition is a testament to our unwavering commitment to innovation and excellence in the field of optical fibre technology. BendBright represents a significant milestone in our ongoing efforts to empower telecommunications providers with advanced solutions that enhance network efficiency and performance." As the demand for high-speed broadband connectivity continues to surge globally, Prysmian remains at the forefront of innovation, driving the development of next-generation fibre optic technologies that redefine the possibilities of modern telecommunications infrastructure.
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AI mentions by payments companies grew 1,170% year-over year between 2022 and 2023
A new report by FXC Intelligence, published today, reviews mentions of AI across major payments companies' earnings calls to assess the significance of the technology to the payments industry. The report found that the frequency of AI mentions increased by 1,170% year-over year between 2022 and 2023, which strongly suggests that this is an area of significance and focus for the companies surveyed. Out of the 16 companies that were surveyed by FXC Intelligence, 75% mentioned AI at least once in their 2023 earnings calls, compared to 44% in 2022 and 2021 – a 31% increase. Generative AI saw the biggest uptick of mentions. The technology saw no mentions at all prior to 2023, however 75% of companies discussed it at least once over the course of 2023, with most mentions concentrated in Q4. With most companies using their Q4 earnings call to set out upcoming strategy, this suggests that generative AI will be a primary focus for future initiatives. Paypal mentioned AI the most frequently, discussing the technology across all four earnings calls in 2023 with a combined total of 29 mentions. Mastercard came in second with Visa closely following in third, while Square and Cash App owner Block came in joint fourth with payments processor Worldline. In general, companies in payments processing mentioned AI the most frequently. AI applications largely focused on fraud protection and risk management; customer service and experience improvements; and productivity or cost gains. Here, the former largely focused on existing applications, while the latter two trended towards future projects. Lucy Ingham, Editor-in-Chief and Head of Content, at FXC Intelligence said: “What is clear from our analysis is that payments companies are becoming more interested in leveraging the benefits of AI to support the development of better products, increased productivity and improved security measures. “It remains to be seen if this interest in AI proves to be just a buzzword fad or a real disruptive technology for the industry. 2024 will be pivotal in determining to what extent it remains at the forefront of companies’, and investors’, attention.”
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Kordsa Showcases Advanced Composite Technologies at JEC World 2024
Kordsa, one of the world's leading companies in advanced materials, showcased its presence at JEC World 2024 in Paris, the Composite Technologies Exhibition held from March 5 to 7. At this prestigious gathering that brings together all facets of the composite material sector, Kordsa shared the latest innovations in composite technologies with attendees. JEC World 2024, held in Paris, from March 5 to 7, brought together key players in the composite sector, with Kordsa, a subsidiary of Sabancı Holding, actively participating in this international summit for the composite industry. As the main sponsor of JEC World 2024, which brings together innovative initiatives, experts, academics, and R&D leaders in the field of advanced materials, Kordsa, alongside its affiliated companies Fabric Development Inc., Textile Products Inc., Axiom Materials Inc., and Microtex Composites Srl. showcased innovations in the field of composite materials with the visitors. In addition, technologies developed at the Composite Technologies Center of Excellence in Turkey, consolidating product development, production, and application stages, were presented to participants. Highlighting Kordsa's 50-year history of creating value for customers and its role in leading sustainable and benefit-focused development within the ecosystem, CEO İbrahim Özgür Yıldırım stated, "Kordsa's path to becoming one of the world's leading companies in advanced materials involves viewing sustainability as a business model. Our vision, described as 'Reinforcing Life,' signifies Kordsa's journey contributing to the world, humanity, and the ecosystem. We continue to reinforce this journey with sustainable-focused products that have the power to transform the entire ecosystem. With our composite production facilities in the USA, we are a supplier to leading organizations in the commercial aerospace industry. Recently, we consolidated the management of our composite companies operating in North America under a single umbrella. We enhanced our capabilities through our Italy-based company, Microtex Composites, which primarily supplies carbon fiber woven and prepreg materials to the super luxury automotive sector and motorsports in Europe. With our extensive production spread across various regions, we will continue to present our reinforcement technologies to the world. Our goal is to create value for all stakeholders by leading in the global market, technology, and sustainability." Highlighting Kordsa's recent investment in BPREG, a sustainable advanced materials company offering eco-friendly alternatives to synthetic composites, İbrahim Özgür Yıldırım stated: “BPREG's focus on composites industries' green transformation with natural fiber-reinforced advanced composites aligns seamlessly with Kordsa's approach. We will facilitate the global deployment of BPREG's product portfolio to customers in different parts of the world." In his opening speech at the exhibition, Kordsa Chief Technology Officer Hüseyin Ateş remarked: “Since 2014, as a signatory to the UN Global Compact, we have committed to a journey towards net-zero emissions by 2050, a pledge to future generations. Guided by the desire to make a difference, we operate with the ambition of fostering sustainability through a resilient value chain and encouraging partnerships that share our vision. Our global impact is amplified through sustainable practices encompassing principles of a circular economy. Here at JEC World, we are excited to share insights, learn from others and explore new partnerships, contributing to our ongoing commitment to sustainable development.”
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Mongolian firm Shonkhor Unelgee Audit LLC joins Russell Bedford International
Russell Bedford welcomes Shonkhor Unelgee Audit LLC, based in Ulaanbaatar, Mongolia, as its first member firm in the country, enhancing the network’s coverage in East Asia. Global professional services network, Russell Bedford International, is pleased to announce the appointment of Shonkhor Unelgee Audit LLC as its first member firm in Mongolia. Shonkhor Unelgee Audit LLC was established in 2014 and is headquartered in Mongolia’s capital, Ulaanbaatar, in the city centre Sükhbaatar District. It is ranked nationally as a top 20 audit practice and holds memberships with the Mongolian Institute of Certified Public Accountants and the Mongolian Institute of Certified Appraisers. Registered by the Financial Regulatory Commission of Mongolia, Shonkhor Unelgee Audit LLC specialises in providing audit services to the securities and insurance sectors, along with conducting audits for virtual asset service providers. The firm has a portfolio of approximately 60 clients, including publicly listed companies and public interest entities. Commenting on the appointment, Russell Bedford CEO, Stephen Hamlet, expressed delight, stating that “we are very pleased to welcome Shonkhor Unelgee Audit LLC to the network as our first member firm in Mongolia. World Bank figures are projecting economic growth of more than 6% in Mongolia in 2024. The addition of the new firm positions us well to benefit from this economic growth and opens avenues for expanded services to international clients.” Shirev Davaajav, Executive Director at Shonkhor Unelgee Audit LLC, shared his enthusiasm, saying, “Joining Russell Bedford International as the network’s first member in Mongolia is a momentous occasion for us. Aligning with a global network of professionals who share our values and aspirations presents an exciting opportunity that we eagerly embrace.”
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Haadthip Hits 5-Year Sales High, 38.8% Profit Surge in 2023; Expects 6-8% Growth in 2024, Invests 800M in Glass Bottles
Haadthip Public Company Limited (HTC), the exclusive bottling partner of The Coca-Cola Company for the 14 Southern provinces of Thailand, announces its financial results for the full year of 2023. Demonstrating robust growth, HTC achieved a total revenue of 7,806 million baht, marking the highest figure in the past five years and representing a significant 13.6% growth compared to 2022. The net profit for the year reached 598 million baht, reflecting a remarkable 38.8% increase from the previous year. For 2024, HTC anticipates a 6-8% growth in sales revenue and plans to inject 800 million baht into a new production line for glass bottle products. This investment aligns with its overarching goal of achieving a total sales revenue of 15 billion baht by 2032. At the press conference held on March 5, 2024, at the Hyatt Regency Bangkok, Major General Patchara Rattakul, CEO of HTC, emphasized the company's exceptional performance in 2023. He pointed to the rapid recovery of Thailand's tourism sector, particularly in the Southern provinces, surpassing other regions. Furthermore, HTC implemented price adjustments in August 2022 and April 2023, resulting in an average retail price increase of 6% and 1.5%, respectively. “HTC continued its growth trajectory in 2023 and this was largely fueled by the tourism boom in Southern Thailand. According to the Ministry of Tourism and Sports, Thailand received as many as 28 million foreign tourists in 2023 which represents a growth of 154% from 2022. In addition, the Bank of Thailand’s statistics on hotel occupancy also suggest that the Southern region had received more tourists than the other regions did. This prompted our decision to focus on the right pack sizes and channel strategies as tourists’ spending tend to concentrate more in hotels, restaurants, food shops and convenience stores. Additionally, we also made a slight price increase and drove better manufacturing efficiency. This helped lift our net profit up by as much as 38.8%,” Major General Patchara said. Looking ahead to 2024, HTC anticipates continued growth at a rate of approximately 6-8%, supported by the promising tourism outlook in the South. The company plans to introduce new products tailored to the preferences of Thai consumers. Additionally, HTC sees significant opportunities in expanding its zero-sugar beverage segment, which witnessed a remarkable 31% growth in 2023 and currently accounts for only 3% of HTC’s total sales revenue. To bolster its manufacturing capabilities and cater to growing demand, HTC will also invest 800 million baht to add a new production line for glass bottle products at its facility in Poon Pin district, Surat Thani province. This strategic investment is slated for completion by the fourth quarter of 2024 and aligns with HTC's commitment to sustainability and operational excellence. “We recognize the immense potential in the glass bottle business, particularly in the hospitality and food service sectors, where on-premise consumption is prevalent. It is also an area where we have higher competitive advantage against our competition. Besides, we believe glass bottles will allow us to manage packaging material costs better and reduce our use of plastic packaging which is critical to accomplishing our sustainability commitments,” Major General Patchara added. In the long term, HTC aims to solidify its market leadership in the 14 Southern provinces, targeting 15 billion baht in sales and a 35% market share of non-alcoholic ready-to-drink beverages by 2032.
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PRYSMIAN GROUP: BOARD OF DIRECTORS APPROVED THE SLATE OF CANDIDATES FOR THE RENEWAL
The Board of Directors Prysmian S.p.A., met on February 28, unanimously resolved to submit to the Ordinary Shareholders' Meeting, to be held on 18 April 2024, its slate of candidates (“BoD Slate”) for the renewal of the Board of Directors for the three-year period 2024-2026. The candidates included in the BoD Slate have been selected by the Board of Directors pursuant to a selection process managed by the Remunerations and Nominations Committee, assisted by the Lead Independent Director who ensured independence in the process and with the support of a leading international consulting firm. The process was conducted in line with market best practices and consistently with legal requirements. The candidates were selected in accordance with Prysmian Board Composition Policy also containing the Board Skill Matrix and the process to be followed approved by the outgoing Board of Directors and published in November 2023. The BoD Slate includes candidates with a mix of skills and experience that will enable them to assess and manage the business challenges, the strategic context and the main risks to which Prysmian is exposed. The BoD Slate: is composed of twelve candidates, 75% of whom meet the independence requirements recommended by the Corporate Governance Code. is two-thirds made up of outgoing Directors to ensure stability and effectiveness in the management of the company and in the activities of the Board Committees. presents an adequate level of diversity of experience and competences consistent with the Board Skill Matrix. has two candidates who, if appointed, will qualify as Executive Directors. enhances a broad spectrum of diversity, including gender balance (50%). The BoD Slate is composed of the following candidates, who have already informally indicated their willingness to stand as candidates: Jaska Marianne de Bakker, independent Francesco Gori, independent, candidate as Chairperson Massimo Battaini, candidate as CEO Ines Kolmsee, independent Valerio Battista, candidate as Vice-Chairperson Annalisa Stupenengo, independent Pier Francesco Facchini, executive Tarak Bhadresh Mehta, independent Emma Marcegaglia, independent Richard Keith Palmer, independent Barbara Cominelli, independent Mei Mei Chow, independent The proposed candidates possess personal traits instrumental to play an effective role at Board level. This includes the capability to navigate complex situations, build relationships across various levels, ensure independency, respect the diversity of roles, uphold integrity, and commit the necessary time and effort to their roles. Within the BoD Slate, the presence of the outgoing CEO, Mr. Valerio Battista, is confirmed, for whom the appointment as Vice-Chairman will be proposed without the attribution of any additional office or executive roles and with a remuneration consistent with other directors. The Board believes that his presence would ensure the right continuity and best reflects the perspective of all stakeholders and that Mr. Battista, in his new role, will be able to continue to support Prysmian. The documentation relating to the BoD Slate and to the individual candidates provided for in applicable law will be made available to the public, together with the calling of the Shareholders’ Meeting. The Board of Directors thanks the outgoing Directors - leaving because they have lost their independence pursuant to art. 2 of the Corporate Governance Code - for the valuable work done over the course of their term, supporting the Company in its ongoing process of growth and consolidation. “It has been an honour for me, as Chairman of the Board of Directors, to be alongside Prysmian during these years in which the company has successfully overcome important challenges and pursued significant growth,” stated Claudio De Conto, Chairman of Prysmian Board of Directors. “I would like to thank the members of the Board of Directors, of the Board of Statutory Auditors, the management team and all the Prysmian Group's employees for the commitment and professionalism shown over these years, and I am sure that the new Board will support the management in seizing the best opportunities arising from the energy transition and digital transformation. Finally, on behalf of al the members of the Board I would like to extend a special thank to Valerio Battista, who led Prysmian for 22 years and brought the Company to be the world leader in the sector in which it operates."
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PRYSMIAN GROUP: OUTSTANDING RESULTS SOUND MARGINS EXPANSION & STRONG CASH GENERATION
REMARKABLE PERFORMANCE IN 2023: Adj Ebitda at €1,628M (+9.4% vs 2022), with improving margins at 10.6% (9.3% in 2022) Group net profit increase to €529M (€504M in 2022) Strong cash generation with Free Cash Flow at €724M (+29.5% vs 2022) RECORD BACKLOG IN TRANSMISSION OF €18 BILLION INCREASED 2030 EMISSION REDUCTION AMBITION (SCOPE 1&2) TO 55-60% FROM 47%[1] PROPOSED DIVIDEND INCREASE TO €0.70 PER SHARE (+16.7% VS 2022) FY 2024 OUTLOOK: Adj Ebitda expected in the range of €1,575M–€1,675M Free Cash Flow expected in the range of €675M–€775M Scope 1&2 GHG emission reduction of 36% and Scope 3 reduction of 13% vs 2019 Valerio Battista, Chief Executive Officer (CEO), commented: “The sound margins expansion and the strong cash generation achieved in 2023 confirmed Prysmian’s resilience and the market leading position, thanks to our complete and balanced portfolio well exposed to the structural trends of the electrification and the energy transition. In a challenging environment, we achieved once again an excellent performance and ensured value creation to all our stakeholders. 2023 was my last year as CEO of Prysmian, and I am incredibly proud of the company we have built over the past 20 years, a strong organisation that is leading the industry, and that has the technology and resources to capitalize on exciting market opportunities and breaking new records year after year” Massimo Battaini, CEO-designate, stated: “At our Capital Markets Day we laid out our “Connect, to Lead” strategy aimed at capitalizing on the Group’s leading market position to seize the opportunities presented by current market trends. We have reshaped our business into four new segments, effective from 1st January 2024 to better capture these opportunities. We continue to be at the forefront of innovation, thanks to our unparalleled R&D capabilities and our deep understanding of the evolving market dynamics. In light of our solid backlog across all segments, we are confident of achieving 2024 targets and are well on track to deliver the mid-term targets outlined at the CMD. I look forward to driving this company and our great team to the next level and to strengthening our role as global cabling solution provider leading the Energy Transition and Digital Transformation”. ### [1] 1 -47% GHG emission reduction target approved by SBTi in June 2023. The range 55-60% is the new target proposed by Prysmian in line with the trajectory to net zero at 2035.
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Attendee Registration Now Open for IAAPA Expo Asia 2024 in Bangkok, Thailand
IAAPA, the leading global association for amusement facilities and attractions, is excited to announce that attendee registration for IAAPA Expo Asia 2024 is officially open. Taking place in the vibrant city of Bangkok – the city of angels – this highly anticipated international trade show and conference will showcase the latest trends and technological innovations shaping the future of the global attractions industry from around the world. This premier destination event is not to be missed. IAAPA Expo Asia 2024 will be held from May 27-30, 2024, at the landmark Queen Sirikit National Convention Center, one of the region’s most in-demand exhibition venues located in the heart of Bangkok. Held under the theme "Shape Your Evolution at IAAPA Expo Asia: Evolve your business into a leading market player," the event will bring together industry leaders and entertainment experts from across the globe to explore the current landscape and future trends that are defining the global attractions industry in Asia and beyond. Known for its unique blend of tradition and modernity, the city of Bangkok offers the ideal backdrop for IAAPA Expo Asia 2024. In addition to being a rapidly evolving entertainment hub, this bustling metropolis will give attendees the opportunity to immerse themselves in a rich blend of Thai history and tradition, offering a unique cultural experience that is sure to inspire and captivate. “IAAPA Expo Asia is an unmissable global event for professionals in the attractions industry and we cannot wait to bring it to Thailand,” said Jack Chan, executive director and vice president, IAAPA APAC. “Bangkok is a melting pot of culture and innovation, standing as one of the world’s most eclectic destinations for travel and business, which perfectly embodies this year’s expo and theme of ‘evolution’. We look forward to debuting the very best the attractions industry has to offer in this remarkable city and having the opportunity to foster new connections and deliver exceptional educational opportunities to all our attendees.” The event will feature a comprehensive 7,800 net sqm. trade show floor packed with some of the world’s most acclaimed manufacturers and suppliers showcasing a wide range of industry-leading products, services, and solutions. These include brand-new amusement park rides and state-of-the-art mixed reality experiences that attendees can try out for themselves right on the show floor, as well as interactive displays and exhibition booths from leading amusement destination brands. In addition, the expo will also have an extensive educational program that will include keynote presentations, panel discussions, and in-depth seminars from some of the industry’s top leaders and experts, providing valuable insights and knowledge-sharing opportunities for participants on topics such as the future of entertainment, facility operations, merchandising, and more. IAAPA Expo Asia 2024 promises to be a landmark event that will set the standard for the future of the industry in Asia, providing attendees with the competitive edge and networking opportunities they need to unlock their potential and stay ahead of the curve. Don’t miss out on discovering the next evolutionary step of your business by registering today via this link. https://www.iaapa.org/expos/iaapa-expo-asia?utm_source=press-release&utm_medium=email&utm_campaign=expo-asia-24-reg-open