Tiger Brokers Singapore, the Xiaomi-backed online trading platform, today revealed continued exponential growth and momentum among its user base in Singapore. The online and mobile-focused brokerage saw 100% growth in customer accounts for three consecutive quarters in 2020.
Wu Tianhua, Chief Executive Officer of UP Fintech Holding Limited shared, “The total addressable market in Singapore is huge. The country has one of the highest rates of digitalization in the world, and a nation-wide preference for digital banking which is supported by high tech infrastructure and key fintech initiatives led by the government, making it a very attractive and relevant market for Tiger Broker’s services. This is a market that has huge potential for us, and we are working hard for incremental market growth, especially focused on younger Singaporeans who are getting savvier with their investment needs.”
Eng Thiam Choon, Chief Executive Officer of Tiger Brokers Singapore, also shared, “Compared to a decade ago, trading seems to be out of reach to many. However today, we are seeing an increasing number of individuals, as young as Generation Z, beginning to explore online investing as a viable financial lifestyle choice. People are more aware of the trends and developments in global economies and changes in business landscapes today.”
“Tiger Brokers Singapore saw an overall shift in user digital experience driven by the pandemic and recognized the need to keep pace with its investors’ demands by differentiating and expanding its services. In 2020, the platform has onboarded two exchange platforms – Singapore Exchange and Australian Securities Exchange, bringing the total number of exchanges available to Singapore investors to six across five countries. This access, especially to US markets, has been a huge value-add to its investors.”
It has also focused on creating convenience for its users; working with bank partners to help create a seamless payment system; working with technology partners such as Iress, one of the largest and most active online trading communities; TradingView, strengthening Tiger Brokers’ community engagement; and lastly, the launch of Tiger Brokers latest Fund Mall product that allows everyday-investors access to popular public funds. Tiger Brokers recently partnered with OTC Markets Group Inc. (OTCQX: OTCM) to provide customers with detailed insights and make more informed trading decisions on the OTC markets.
“At Tiger Brokers, our objective is to provide an array of financial and educational tools to support the new generation of investors in their investment journey. Our fantastic Q4 result would not be made possible without the support and faith of our Singapore and regional investors. As we remind investors to diversify their investment, we hope to continue bringing value-added investment opportunities to our current investors, while attracting the new ones,” shared Thiam Choon.
Tiger Brokers – Growing strong and steady
Tiger Brokers Singapore’s parent company, UP Fintech Holding Limited (NASDAQ: TIGR) or Tiger Brokers (including all of its subsidiaries and consolidated entities), shared their unaudited financial results for the fourth quarter and the year ended December 31, 2020, with total revenue at US$47.2 million, a 136.5% increase from the fourth quarter of 2019. The total number of customers globally with deposits increased by 128.4% year-on-year to 258,700 in 2020. The global platform also added 44,000 funded accounts in the fourth quarter, 3.9 times the number of new funded accounts in the same quarter of last year; the total number of funded accounts doubled in 2020 to reach 258,700. Tiger Brokers’ account balance increased by US$5.0 billion in the fourth quarter and reached US$16.0 billion, an increase of 215.9% since the end of 2019.
Tiger Brokers continues to serve investors worldwide, offering access to fast trade execution and competitive transaction fees. It will continue to offer complimentary real-time stock quotes with no hidden costs, multilingual customer service during trading hours and 24/7 finance news updates. Tiger Brokers hopes to add more trading options on top of the current investment options such as Equities, ETFs, Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), and Fund Mall. They look to add new exchange platforms to their existing six – the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX), the Singapore Exchange (SGX) and the Australian Securities Exchange (ASX).
About Tiger Brokers (Singapore) Pte Ltd.
Tiger Brokers (Singapore) Pte Ltd is a brokerage firm operating with a CMS Licence from the MAS. Its Tiger Trade platform offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. The company launched the mobile version of Tiger Trade in February 2020 – accessible on Google Play Store and the Apple App Store – offering a mobile-savvy generation of retail investors similar trading opportunities as online users, such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), and Fund Mall on their mobile phones. Tiger Trade allows users to invest across multiple asset classes on the US, China, Hong Kong, Singapore and Australian stock markets such as the New York Stock Exchange (NYSE), NASDAQ, Shanghai/Shenzhen-Hong Kong Stock Connect, the Hong Kong Stock Exchange (HKEX), the Singapore Exchange (SGX) and the Australian Securities Exchange (ASX).
Tiger Brokers (Singapore) is the Singapore entity of UP Fintech Holding Limited, known as Tiger Brokers in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in the U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded 2017 Fintech 250 by CB Insights and shortlisted for China Leading Fintech 50 for two years in a row by KPMG China. The company was listed on NASDAQ as TIGR in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers has over 1 million customers worldwide, with a total trading volume exceeding USD219 billion in 2020. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg.
This article has not been reviewed by the Monetary Authority of Singapore.
Any views shared with Prospective Clients (“Prospects”) are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects’ investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers in not in a position to verify.
Tiger Brokers (Singapore) Pte Ltd (herein “Tiger Brokers”) may, to the extent permitted by law, participate or invest in other transactions with the issuer of the products referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. The information herein is for the recipient’s information only and not an offer to sell or a solicitation to buy. Any date or price information is indicative only and may be changed without prior notice. All opinions expressed and facts referred to herein are subject to change without notice. The information herein was obtained and derived from sources that we believe are reliable, but while reasonable care has been taken to ensure that stated facts are accurate and opinions are fair and reasonable, Tiger Brokers does not represent that it is accurate or complete and it should not be relied upon as such. The information expressed herein is current and does not constitute an offer, recommendation or solicitation, nor does it constitute any prediction of likely future stock performance. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person or affiliated companies. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances. Tiger Brokers assumes no fiduciary responsibility or liability for any consequences financial or otherwise arising from trading in securities if opinions and information in this document may be relied upon.
As the earnings season approaches, once again listed pharmaceutical companies are attracting the attention of the public. Recently, China Medical System Holdings Limited (CMS or the Company) has released its annual results, with both revenue and profit higher than market expectations. According to its 2020 annual results, turnover is up by 14.4% to RMB6.946 billion; net profit up by 30.7% to RMB2.556 billion; basic earnings per share up to RMB1.024, with a proposed final dividend of RMB0.20 per share.
In the past, influenced by expectations of the effects of China’s centralized procurement policy and the Company’s product transition, CMS’s valuation in the capital market was once under pressure, but with the Company’s strategic transformation from a CSO to an innovative pharmaceutical company, coupled with its own solid business growth, its share price has gained a significant increase in the past few months but is still relatively low in the capital market. The Company’s current dynamic P/E ratio is only about 13x, with a market value of HK$ 39.4 billion. However, market values of innovative pharmaceutical companies without profits such as BeiGene and Junshi Biosciences have well exceeded HK$50 billion or even HK$100 billion in HKEX. This shows that the share price of the Company does not reflect its real value after its transformation. It’s worth digging deeper into the innovative pipeline of the Company to take a look at its long-term growth potential and the inevitability of valuation increase.
1. Firm in transition, the Company is using the S&D model to drive its innovative development
Looking back at its history, the Company began introducing exclusive or original drugs from multinational pharmaceutical companies through rights control or exclusive sales agreement early in 2010, creating a unique “CMS Model”. Under this model, the Company has accumulated a strong network of overseas upstream resources and a good reputation, and formed a strong product evaluation system. However, considering the potential impacts of the Company’s existing products, which are all original or exclusive drugs with expired patents or no patents, and China’s centralized procurement policy on performance growth, CMS began to actively adjust its business strategy and transformed into an innovative pharmaceutical company at full speed since the end of 2017.
The true meaning of rebirth lies in the courage to kill your past self. As a CSO leader, CMS takes advantage of its competencies in the deployment of innovative drugs in its gradual transformation and has formed a development path that is different from most other biotechs and innovative pharmaceutical companies.
First of all, the Company’s original business has maintained steady growth over the years and generated strong cash flow, which has given it the confidence to further expand its business, while its long-term accumulated resources and networks overseas have also given it more opportunities to quickly deploy overseas innovative resources. For various reasons, CMS has transformed itself into a venture investor in overseas pharmaceutical companies and actively promoted its presence in the innovative drug field. Through equity investment in overseas biotech companies and strategic cooperation, the Company has rapidly formed an R&D pipeline covering a number of innovative products in just around three years.
The following are some highlights of the Company’s deployment of innovative drugs:
a) Excellent BD capability and mature system help CMS enter into the innovative drug field quickly
Compared with the R&D (research & development) path, which is common in pharmaceutical companies, the Company adopts an S&D (search & development) model, i.e., gradually enriching its innovative pipeline through global search for quality innovative drug projects and early R&D participation. This model particularly tests the Company’s ability to screen and evaluate products.
Looking back at the Company’s history, as a leading CSO company, CMS’ unique vision and product selection ability has been fully verified by the introduction of a series of blockbuster original products with clear efficacy, sufficient clinical evidence and competitive differentiation in the past. The Company has also achieved excellent performance with these quality products for a long time. And with the transition, this long-tested ability is continuing to help its selection of innovative products.
In fact, as the fastest way to deploy innovative drugs, the Company has also polished a complete and mature BD system. From top-level design, introduction strategy, clinical development in China, to the match with existing products and sales teams, and even product commercialization, CMS has built a thorough mechanism and cultural foundation that are suitable for the growth and commercialization of innovative drugs.
In the past three years, CMS has quickly acquired more than 20 innovative products with unique competitive advantages, including Diazepam Nasal Spray, Tildrakizumab, Cyclosporine Eye Drops 0.09%, etc., and achieved great results, which fully validates its strong and sustainable BD capability and forms a competitive moat, providing CMS with opportunities to achieve a higher premium valuation.
b) Avoiding competition in over popular products, CMS tries to find “diamond in the rough” with a differentiated product selection strategy
In fact, according to its footprint in innovative product deployment, due to its innate promotion-driven genes, the Company is more capable of exploring new products from the perspective of marketing and promotion. It does not blindly pile up popular products but takes cost-effectiveness, market potential and whether meeting unmet market needs as the benchmarks, and takes a long-term view of the commercial prospects and the localization value of the innovative pipeline.
In recent years, there have been pharmaceutical companies who spend a lot of money to buy some seemingly sexy, but very competitive drugs. Taking PD-1 for example, its R&D costs hundreds of millions of dollars, but the competition between pharmaceutical companies is fierce. With the price reduction caused by national centralized procurement, it is clear there has been serious involution in this field. This is the kind of field that CMS has been intentionally avoiding in its selection process. The innovative drugs that the Company has acquired all have differentiated competitive edges and considerable market potential. Taking the products mentioned above as examples, Diazepam Nasal Spray is an innovative drug targeting acute repetitive seizures that is convenient to use outside the medical setting with a very rapid onset of action; Tildrakizumab is a novel monoclonal antibody targeting IL-23 with high cost-effectiveness for the treatment of psoriasis; Cyclosporine Eye Drops 0.09% is a novel, preservative-free, clear ophthalmic solution using a globally patented nanotechnology for the treatment of dry eye.
In addition, let’s take the Methotrexate Pre-filled Syringe/Pen introduced by the Company last year as an example to see the characteristics of its deployment of innovative drugs. Methotrexate is an API with a long history and is referred to in many articles as one of the ten landmark drugs in human history, while many biological agents under development now are also clinically compared with methotrexate injections for equivalence. But even so, as an inexpensive and efficacious old drug, there are severe gastrointestinal side effects in oral preparations resulting in decreased patient compliance, and there are currently neither pre-filled methotrexate injection products approved, nor methotrexate injectables for the treatment of RA on the Chinese market. It is based on this typical unmet clinical need that the Company chose to introduce this drug to fill the market gap.
c) Rapid clinical advancement capability with significant organizational and institutional strengths
Although CMS does not have a CMO with a strong background for the time being, its medical team and clinical capabilities should not be underestimated. In terms of clinical works, CMS plays its resource advantages in clinical development by strictly controlling the core clinical processes such as clinical protocol formulation, patient enrollment and quality control, and cooperates with CROs to jointly promote clinical projects in China.
Most of CMS’s innovative drugs are in late clinical stages or already marketed in the U.S. or Europe. So, in the design of clinical trials in China, the Company’s medical team needs to refer to the clinical protocols of its overseas partners, and then make adjustments and innovations to make the protocols suitable for the Chinese market. Currently, all of the registration trials are progressing smoothly. In addition, with its 3,000+ professional promotion staff and a wide range of hospital and physician resources, CMS has the solid strength needed to quickly enroll clinical patients and promote the clinical development of products. For example, on March 11, the Company announced that it had completed enrollment of all 220 subjects required in the registration bridging trial of its blockbuster innovative drug Tildrakizumab in China in just 2.5 months.
d) Strong academic promotion capability helps commercialization of innovative drugs
With more than two decades of successful experience in academic promotion, the Company has accumulated extensive industrial and network resources to carry out the commercialization of innovative products in the future. Its well-established system has also been providing great support to the commercialization of innovative products whether in terms of compliance management, digitalization, or team management and training.
The Company has repeatedly mentioned in financial reports its efforts in refining management and compliant marketing, such as optimizing organizational structure, strengthening the application of digital tools, enhancing compliance training, etc. Meanwhile, the Company has made continuous efforts on digital promotion for many years, thanks to which, its selling expense ratio has remained at around 22% for years, which is at a relatively low level in the industry. In addition, the Company has a professional team and organizational system. By the end of 2020, the Company’s academic promotion system has covered about 57,000 hospitals and medical institutions nationwide, with 3,300 professional academic promotion staff. As a company noted for sales and promotion ability, its strong professional academic promotion capability and compliant and efficient system will bring broad market prospects for its innovative products once commercialized.
2. Great market potential for the innovative pipeline and great room for growth for the Company
According to the Company’s financial report, by the end of 2020, the Company has more than 20 innovative products with relatively high innovation level, high market potential, and competitive differentiation advantages, among which, 9 products have been approved for marketing in the U.S. and/or Europe, and 3 products are in the registration clinical trials in China.
According to the R&D progress of its products, the Company is expected to have a number of blockbuster products marketed in succession, which may provide new growth points for the Company.
Next, let’s take a look at some of the blockbuster products that are expected to be marketed soon as well as their market potential:
a) Diazepam Nasal Spray
The product is indicated for acute repetitive seizures in patients six years of age and older, and is expected to be marketed this year. It has received marketing approval from the U.S. FDA, and the Company has completed dosing and blood sample collection of all subjects in the registration trial in China in 2020, and is expected to submit an NDA in the near future.
According to Chinese epidemiological data, it is estimated that there are approximately 6 million active epilepsy patients in China, with an additional 400,000 new patients each year. According to the 2002 WHO Demonstration Project, only 37% of Chinese patients with active epilepsy received medication with a treatment gap of 63%, which means only about 2 million patients with active epilepsy received regular treatment. Of the 2 million patients, 20-30% are out of effective control, with an average of nearly 70 recurrent seizures per year. Therefore, it can be estimated that the product’s target patient population is at least 400,000, assuming an average of 30 seizures per person per year, and a selling price of RMB300 per spray (with reference to the selling price of about US$300 per spray in the U.S.), the market potential of the product will exceed RMB3 billion per year.
b) Cyclosporine Eye Drops 0.09%
Expected to be launched next year, Cyclosporine Eye Drops 0.09% is used to increase tear production in patients with dry eyes and has a global nanotechnology patent. The Company received the clinical trial notice of the product from NMPA of China in June 2020 and completed the first subject dosing in December, expecting the product to be launched in 2022.
Data shows that the incidence of dry eye in China is about 21-30%, while epidemiological data shows that patients with moderate-to-severe dry eye account for about 40% of dry eye patients. According to this projection, there are over 100 million patients with moderate-to-severe dry eye in China. Since there are various channels of treatment for eye diseases in China, assuming a 10% hospital visit rate for patients with moderate-to-severe dry eye, the target treatment population would be about 10 million. In terms of treatment cost, the clinical study of Cyclosporine Eye Drops 0.09% shows significant improvement in the primary endpoint after 12 weeks of treatment with 2 doses of the product per day, so assuming a 12-week treatment course of the product and a treatment cost of RMB25 per dose (with reference to the selling price of about RMB25 per dose of Zirun(R) 0.05% Cyclosporine Eye Drops (II) of Sinqi Ophthalmic Medications), the product would cost about RMB4,000 per treatment course. Combined with the target population of about 10 million projected above, the market potential for this drug will exceed RMB3 billion if the Company could cover 8% of the patients.
c) Tildrakizumab
Tildrakizumab is used for the treatment of moderate-to-severe plaque psoriasis, and has already been approved for marketing in the U.S., Europe, Australia, and Japan. In China, with the completion of all subject enrollment in the registration clinical trial, the product is expected to be marketed in 2022.
Chinese epidemiological data shows that the incidence of psoriasis in China is about 0.47%, with a total number of patients exceeding 6.5 million. Among them, about 30%, or 2 million patients, are with moderate-to-severe psoriasis. Regarding the current market size of monoclonal antibodies for psoriasis in China, according to the prices of monoclonal antibodies already approved, which generally cost tens of thousands to hundreds of thousands in RMB for annual treatment, and taking into account the price reduction in NRDL price negotiations, RMB100,000 can be taken as the average annual treatment cost. Assuming that the penetration rate of biologics in patients with moderate-to-severe psoriasis can reach about 20% in the future, the entire market size of monoclonal antibodies for psoriasis will exceed RMB40 billion. With the Company’s strong sales and promotion ability, assuming that the product takes 12% of the market share in the future, the peak sales could reach about RMB5 billion.
d) Others
By 2023, the Company’s products such as Plenity (an innovative weight loss product), Desidustat (indicated for CKD anemia), Methotrexate Pre-filled Syringe/Pen (pre-filled injectables indicated for RA), and Methylene Blue MMX (enhancing lesion detection during colonoscopy) are expected to be approved for marketing, all of which also have a market potential of at least RMB1 billion.
Taking Methotrexate Pre-filled Syringe/Pen as an example, it is easy to use, convenient for self-administration at home and strikes a greater balance of efficacy and safety, excellent tolerability, and compliance. With 5 million RA patients in China, the peak sales of this product is estimated to exceed RMB1 billion. Methylene Blue MMX is also a product with promising market potential. It has been clinically proven to improve the detection of all lesions during colonoscopy and is easy to use. If it is included into the routine procedure of full-spectrum colonoscopy in the future, the sales potential of this product is estimated to be at least RMB1 billion as there about 10 million colonoscopy cases in total in China.
3. Conclusion
To conclude, CMS’s advantages in the deployment of innovative products come from two aspects. On the one hand, the Company’s strong BD ability built up in its long-term development gives it the confidence and strength to quickly enter the innovative drug field, and at the same time, it does not blindly chase after popular products but focuses on digging overseas quality innovative products with relatively high market potential and unmet market demand using its differentiated product selection strategy. On the other hand, the resource advantages based on the strong marketing and promotion system empower the Company with rapid clinical advancement ability and strong academic promotion ability, which strongly supports the clinical development and commercialization of innovative products. Based on all these, CMS has made remarkable achievements in its transformation, and it is believed that with the marketing of blockbuster innovative products, the Company’s value will be re-recognized by the market and its valuation will usher in a new leap.
After CMS released its annual results, several institutions have published research reports that are optimistic about the Company’s transformation focusing on innovative drugs and its long-term potential. First Shanghai Financial Group emphasized CMS’s unique vision of product selection, strong profitability of BD projects, and high efficiency in clinical development of blockbuster innovative products. It projected that CMS will have six innovative drugs marketed in China in the next three years, and with the Company’s strong academic promotion ability and the products’ own differentiation advantages, it’s believed that once these products are marketed, they’re expected to bring considerable contribution to the Company’s performance. Industrial Securities mentioned that the Company’s Cyclosporine Eye Drops 0.09% and Tildrakizumab are expected to be approved in 2022 and four other innovative products to be approved in 2023. With the successive launch of these innovative products, the Company’s product mix is expected to be significantly optimized.
In addition, Citi reported that the Company’s management is committed to acquiring licenses for five competitive innovative drugs each year, and the nasal spray for epilepsy is also planned to be launched in China this year, which are expected to continuously contribute to its revenue; meanwhile, the Company has several other drugs that are expected to be launched in China in the next few years, based on which Citi raised its earnings forecast for 2021 and 2022 by 39% and 57%, respectively. At the same time, Citi raised its target price of CMS by 134% to HK$26 from HK$11.1, with a “buy” rating.
In summary, it is not difficult to find that all these institutions have full recognition of CMS in its presence in the innovative drug field. They have all raised their target prices of the Company based upon the Company’s performance and potential. Compared with ordinary investors, professional institutions tend to have a deeper understanding of the industry and the enterprise. These bullish reports have all shown that, despite the fact that the Company’s share price has almost doubled in the year, they still have full confidence in the Company’s future potential.
At the 2021 Palm Beach International Boat Show, Navier, a Silicon Valley startup, is proud to announce the first product for the new brand, a 27-foot foiling performance-craft that is capable of a range exceeding 75 nautical miles all under electric propulsion, with exceptionally advanced autonomy features. The foils will ensure a smooth ride over chop and the minimal wetted surface reduces drag, resulting in the most efficient operation possible.
Navier 27 cabin versionNavier 27 open versionFounders (Reo Baird and Sampriti Bhattacharyya)
Highlights:
Navier–a Silicon Valley startup–is building technology to radically increase the efficiency of small powerboats by 90% while ensuring zero emissions and a vastly superior ride experience.
Led by two MIT engineers who are avid boaters with extensive experience in ocean robotics, aerospace flight controls, and autonomous systems. Additionally, the team is working with world-renowned experts involved in America’s Cup foil vessel development.
The first product is the Navier 27, an all-electric hydrofoil performance-craft capable of a range exceeding 75 nautical miles at a 20kt cruising speed. The craft is outfitted with a highly advanced autopilot with features we see in today’s self-driving land vehicles.
High-tech features of the vessel include a highly advanced autopilot capable of both speed and course control, as well as an aerospace-grade foil control system and assistive docking technology, making the Navier 27 the most technologically advanced recreational boat on–or above–the water.
At speeds reaching or exceeding 18 knots, the boat flies on foils that are similar in design to high-performance America’s Cup sailing vessels. In fact, the Navier team includes world-renowned experts involved in the development of America’s Cup foiling race boats.
Sampriti Bhattacharyya is the co-founder and CEO of this new U.S.-based company that will design and build electrically-propelled foiling powerboats, initially just for the recreational market. She is an MIT PhD in mechanical engineering with original contributions in the field of hydrodynamic design. With extensive experience in ocean technology as well as prior experience as an aerospace engineer building flight control systems at NASA, Sampriti brings an impressive wealth of knowledge to Navier.
Navier’s other co-founder and CTO is Reo Baird. Reo holds degrees in aerospace, electrical, and computer engineering and specializes in autonomous systems. Baird has extensive professional experience in the marine industry, and he is a lifelong boater who has logged over 10,000 ocean miles. His experience and knowledge of advanced autonomous systems will play a key role in the design of the Navier 27.
Navier is no ordinary boat company. It is trying to reinvent the boat as we know it and define the future of waterborne transportation.
Key Facts Navier 27 Electric: Goes the distance without noise or pollution Active Foil Control: Smooth ride and sporty handling, enabled by aerospace stabilization technology Retracting Foils: Fly above 3-4ft seas or retract foils for beaching and shallow-water operation Assisted Docking: Precise sensor-assisted joystick docking free of delays typical in gas boats Advanced Autopilot: Perfect speed and cruise control, whether station keeping, trolling, or cruising Hazard Alert: Navier 27 is aware of its surroundings, alerting you of danger before it’s too late Connected: Check-in on your boat from anywhere in the world via smartphone 2 Versions: Cabin and Open version
Trintech, a leading global provider of integrated Record to Report software solutions for the Office of Finance, today announced its automated financial close solution is integrated with Microsoft Dynamics 365 Finance. The integrated solution is now available in Microsoft AppSource to provide greater control and insight for Dynamics 365 Finance customers.
“With Adra’s unified and seamless integration with Microsoft Dynamics 365, finance and accounting departments can automate key parts of their financial close process that would otherwise require human intervention,” said Darren Heffernan, President, Mid-Market at Trintech.
“This integration combines the power of Microsoft Dynamics 365 Finance with the most comprehensive financial close solution for organizations into one seamless experience that will increase the efficiency and accuracy while simultaneously reduce the cost and risk across your financial close process.”
Just a few of the many benefits finance & accounting departments will gain include:
Visibility across all tasks in the financial close process
Control and automation of reconciliations
Shortened close cycle through efficiency gains
Automated notifications of balance changes throughout the close
Reduction in write-offs
“Trintech’s Adra Suite helps maximize the value of a company’s investment in Microsoft Dynamics 365 Finance by delivering greater insights while mitigating risk, reducing errors and improving your overall financial close process,” said George Glantschnig, General Manager, Dynamics 365 Finance, Globalization, Project Operations, Human Resources at Microsoft.
Currently deployed by over 1,800 companies across the globe, the Adra Suite provides cloud-based, financial close and reconciliation solutions for companies looking to quickly increase the efficiency, control and visibility for all key areas of the financial close process including: balance sheet reconciliations (Adra Balancer), transaction matching (Adra Matcher), financial task management and controls (Adra Task Manager), and reporting (Adra Analytics).
Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide – including the majority of the Fortune 100 – rely on the company’s cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.
Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.
Blockpass is excited to reveal it will be working with a number of new solutions and companies as it provides compliance options to Initial DEX Offerings (IDOs) on the DuckStarter platform. As DuckDAO’s token sale launchpad, the DuckStarter platform is involved with a large variety of IDOs. With Blockpass and DuckDao working together, KYC and AML provision will be quickly and easily accessible to all participants, ensuring security and regulatory compliance in the space.
DuckDAO is a community-backed incubator powered by an expansive network of investors in the digital asset ecosystem. DuckStarter is a token sale launchpad where users can access both public and special rounds for high-quality crypto projects. DuckStarter will act as the final bridge between early-stage projects and the community before the project goes fully public. DuckStarter has a unique level system which requires users to lock-in a certain amount of DUCK tokens to participate in the launch platform. DuckStarter has already helped launch a number of projects and has many more lined up, including PolkaFoundry, keyTango, Lepricon, and Cash Tech.
Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users.
“We’re excited to be working with DuckDAO and the DuckStarter platform to bring KYC services to a huge number of people as we see a surge of interest in IDOs with this current wave of DeFi development,” said Adam Vaziri, Blockpass CEO. “Our goal at Blockpass is to remove the pain points of compliance and with the range and quality of users on DuckDAO’s DuckStarter platform we have the privilege to bring our revolutionary and efficient solution to a new and expanding audience.”
“As one of the premiere KYC solutions providers in the crypto space, Blockpass has helped to smooth access to the burgeoning, but sometimes inaccessible crypto industry,” said DuckDAO Co-founder Ken. “Blockpass has done an incredible job at ensuring our IDOs are secured by a real, quality user base.”
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with, and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations have led to a surge in interest for Blockpass’ On-chain KYC(TM) solution which promises to change the way blockchains enable compliance.
With a current 90%+ discount on its services, a fact made possible due to the unique reusable nature of its verification method, and put in place to help as many people as possible access KYC in the current pandemic, there has never been a better time to explore the potential of Blockpass. The Blockpass App is available from the App Store and Google Play.
About Blockpass
Blockpass, the pioneer of On-chain KYC(TM), is a fast, fully comprehensive KYC & AML screening software-as-a-service for blockchains, Crypto, Defi and other regulated industries. With Blockpass, you get an unmatched set of benefits for any compliance service that includes pay-as-you-go, no setup cost, no integration necessary, free testing, immediate launch and at the lowest cost. Blockpass’ KYC Connect(TM) platform enables businesses to select requirements for customer onboarding that can include ID authentication, face-matching, address checking, AML ongoing monitoring and/or screening of sanctions lists, politically exposed persons (PEP), and adverse media. Through Blockpass, end-users easily create a verified portable identity that they can control and re-use to onboard with any service instantly. By integrating with Chainlink Network – a decentralized oracle solution – in early January, Blockpass introduced the first On-chain KYC(TM) solution that will service many blockchains in the years to come.
DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success. DuckDAO looks to break the cycle of early-stage investments in high-potential cryptocurrency projects, which typically see large traditional VCs buy out stacks of tokens in strategic, seed, and private sale investment rounds at far lower prices than retail investors got during the public sale. DuckDAO performs extensive due diligence checks on potential projects to ensure they meet rigorous standards of safety and stand an excellent chance of achieving great success with the help of their community. DuckDAO has an incredible track record and has worked with some of the biggest names in the industry in recent months, including Geeq, Shadows Network, Linear Finance, Base Protocol, and Bondly.
SINGAPORE, Mar 5, 2021 – (ACN Newswire) –Â Today, Moonstake announces its partnership with Escaroo, a keyless blockchain-based peer-to-peer escrow service that offers an advanced smart contract solution for high profile individual and commercial clients within the real-estate, aviation and marine space.
Through this strategic collaboration, Moonstake will help enable staking functionality for Escaroo escrow platform, providing its users a new way to control and earn with their cryptocurrencies. As a leading staking pool platform with a strong lineup of supported digital assets and hundreds of millions assets staked, Moonstake is thrilled to support yet another esteemed institution in the industry, accelerating the connection of staking to decentralized finance. Escaroo users will soon be able to earn passive income from staking within the Cardano and Tezos ecosystems.
With the goal to help people safely create and manage crypto transactions, Escaroo utilizes its proprietary, US-patented smart contracts to facilitate transactions where funds are only released when all parties are in agreement. This allows Escaroo users to maintain funds securely within a unique individually created smart contract that is irreversible once posted to the blockchain and can only be accessed by the parties involved. Transactions are hosted on a public blockchain so one, not even Escaroo, has the ability to access funds outside of the terms set by the parties involved, putting the control of funds back into the users hands.
Lawrence Lin, CEO of Moonstake comments on the partnership: “Investors, especially in the crypto space, are always looking for security and profitability without compromising their own convenience. We are happy to help Escaroo enable staking on their esteemed escrow platform so that Escaroo users not only can enjoy secure transactions but also earn from their idle funds on the DeFi platform of their choice. With a wide selection of PoS coins and attractive yield rates from our high-quality staking pools, we are confident that users will be pleased with their staking experience on Escaroo powered by Moonstake. By partnering with an esteemed institution, Moonstake is going strong on our journey to accelerate the growth of staking.”
“Adding staking to our platform is a natural progression for Escaroo, as it empowers our clients to put their money to work for them. They can now earn a percentage on everything they stake, thus creating a passive income stream on their investments. Being able to partner with Moonstake to bring this vision to fruition was a no brainer. With over $800 Million in assets currently being staked, it is clear Moonstake understands what’s needed to succeed in this extremely competitive world of Decentralized Finance. We are excited to be at the forefront of this brave new world of finance with them,” said Frank Pira, Founder and CEO of Escaroo.
About Moonstake
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.
Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia’s burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan’s biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Listed company. Industry’s reputed advisors, such as Lisk and Centrality support Moonstake’s innovative journey.
With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 800 Million. https://www.moonstake.io/
About Escaroo
Escaroo is the safest Bitcoin and cryptocurrency escrow payment service in the world. Buy or sell anything with confidence knowing your funds are secure when using our decentralized peer-to-peer platform for personal, small business, commercial or letter-of-credit transactions. https://escaroo.com/
SINGAPORE, Mar 4, 2021Â –Â (ACN Newswire)Â –Â BitWell has announced that Hsann, the former head of operations of Binance global fiat exchanges, has become COO at BitWell.
Hsann established multiple fiat exchanges, such as Binance US / Singapore / Jersey / Korea / Uganda and Tokocrypto, which enable local customers to buy crypto using fiat currency (USD, SGD, EUR, GBP etc.) under the conditions of legal compliance through all above channels with no entry barriers. He was also responsible for operations of the exchanges.
BitWell CEO Jeff Young said, “Hsann is a co-founder of BitWell, as the former head of operations of Binance global fiat exchanges, he expanded Binance business globally, significantly enhanced its international visibility. I believe that he will help BitWell grow rapidly and stably with his experiences in this area as BitWell COO.”
Hsann said, “I appreciate the trust given by the BitWell team, as a co-founder, I am really pleased to work with Jeff again. I believe we are definitely able to build BitWell into a world-leading derivatives exchange together with our fantastic team.”
About Hsann Hsann is the co-founder and COO of BitWell. He worked with Binance as a head of operations for fiat exchanges and has launched multiple fiat exchanges. Before Binance, he worked at Flextrade, a FX trading platform serving leading financial banks and asset management funds. Flextrade’s high-performance system was trusted by many industry leaders.
Prior to Flextrade, he worked in IBM and Toshiba as a developer and project manager to develop device drivers for IBM retail store solutions to serve world-leading retail clients such as Walmart, Starbucks and others. Hsann obtained the Master of Science in Embedded Systems from Nanyang Technological University, Singapore and Master of Business Administration (Finance) from National University of Singapore.
About BitWell Launched on 6/4/2020, BitWell is a global crypto derivatives exchange based in Singapore. It supports spot and option trading and expects to support futures trading soon. https://www.bitwellex.com.
The CropLife Asia 2021 Annual General Meeting (AGM) commenced virtually today, bringing together plant science industry leaders from across the continent. This year’s edition of the annual gathering includes a unique focus on how the global pandemic has impacted various aspects of the regional food supply chain as well as the official presentation of the newly-elected Board of Directors. The 2021 Board consists of:
Mr. Gustavo Palerosi Carneiro – President, CropLife Asia (BASF)
Mr. Alexander Berkovskiy – Vice President, CropLife Asia (Syngenta)
Mr. Jens Hartmann – Treasurer, CropLife Asia (Bayer)
Mr. Peter Ford – Secretary, CropLife Asia (Corteva Agriscience)
“It is an honor to lead CropLife Asia at such a consequential time for our region and industry,” said Gustavo Palerosi Carneiro, President of CropLife Asia.
“The challenges we face in Asia are daunting. While our region remains home to the highest number of hungry and undernourished, farmers are facing increasing pressure from pests, weeds, disease and the impacts of climate change. The far-reaching effects of the COVID-19 pandemic have only exacerbated the strain on food production and distribution.
“Plant science has an important role to play in making our food supply chain more resilient, but it’s only part of the solution. On behalf of CropLife Asia, we look forward to working with food and agriculture stakeholders across the region to meet these growing demands.”
In January of this year, the United Nations (UN) released a report titled Asia and the Pacific Regional Overview of Food Security and Nutrition. Among the findings of the report was new data reflecting a troubling lack of food security among children and the most vulnerable parts of society in Asia. Specifically, nearly two billion people in Asia cannot afford a healthy diet, with two-thirds of children in the region suffering from the physical effects of malnutrition.
Beyond food security, sustainability is a topic of increasing focus for society – particularly the issue of climate change. Activities related to crop production are estimated to generate anywhere from 10-13% of global greenhouse gas emissions, and agriculture is a leading cause of deforestation.
The innovative technologies of plant science continue to enable farmers to produce more safe and nutritious food with fewer impacts to the world around us. Biotech crops have been developed with improved traits such as increased yield, better resistance to pests and/or improved nutrition, among others – and allow for sequestration of carbon in the soil through practices such as no-till farming. These are crucial tools that help farmers address global challenges such as food insecurity and climate change together.
Meanwhile, farmers rely on crop protection products (or pesticides) to grow more food on less land and raise productivity per hectare. Without pesticides, 40% of global rice and maize harvests could be lost every year and losses for fruits and vegetables could be as high as 50-90%. These losses in yield would likely mean additional land would need to be cleared for agriculture, leading to increased carbon emissions.
The CropLife Asia 2021 Annual General Meeting will conclude on Thursday, March 4.
About CropLife Asia
CropLife Asia is a non-profit society and the regional organization of CropLife International, the voice of the global plant science industry. We advocate a safe, secure food supply, and our vision is food security enabled by innovative agriculture. CropLife Asia supports the work of 15 member associations across the continent and is led by six member companies at the forefront of crop protection, seeds and/or biotechnology research and development. For more information, visit us at www.croplifeasia.org.
For more information please contact: Duke Hipp Director, Public Affairs & Strategic Partnerships CropLife Asia duke.hipp@croplifeasia.org
State Power Investment Corporation Limited (SPIC), one of the biggest renewable energy companies in China, has well fulfilled its social responsibility as an enterprise and given a big leg up to poverty alleviation efforts in Yanchuan county, Yan’an, northwest China’s Shaanxi province.
Since 2013, SPIC and the county government have built four modern agriculture demonstration parks and helped establish 974 greenhouses equipped with solar panels. (SPIC).VIDEO：https://youtu.be/r_D1SS9SG_k
Since 2013, the SPIC and the county government have built four modern agriculture demonstration parks and helped establish 974 greenhouses equipped with solar panels. The company increased income for more than 500 householders, as each of the greenhouses brings in an average annual income of 40,000 yuan ($6,165).
New functions were added to the greenhouses last year with the assistance of the SPIC, such as automatic monitoring, sensing, and controlling, which enables operators to control the smart equipment in the greenhouses on a mobile app.
Apart from the efforts made to scale up Yanchuan’s agricultural industry, the SPIC also introduced a clothing factory to help local people improve their income, said Wang Wei, Party chief of Shuangmiao village in the county.
Established on July 24, 2018, the clothing factory now has 12 assembly lines with a monthly output of 100,000 pieces of garments and employs 242 local people, including impoverished residents. After the phase-2 project of the factory is completed, another 100 jobs will be created for poor residents from local communities.
Besides, the SPIC also built rural roads and installed solar street lamps in Yanchuan county, and is attempting to reduce poverty by improving local education.
PALO ALTO, CA – (ACN Newswire) – Bitcoin Latinum, the next generation Bitcoin fork, is announcing the worldwide giveaway of a custom, new edition Tesla Roadster. As a tribute to honor the innovation of Tesla and Bitcoin Latinum, eight custom, new edition Tesla Roadsters will be created to celebrate Bitcoin Latinum’s milestones in coming to market later this year.
Bitcoin Latinum is an enhanced Bitcoin fork. The Bitcoin Latinum algorithm and infrastructure break barriers and speed limits that have prevented some virtual currencies from achieving practical, real-time use. The Bitcoin Latinum tokens are a part of a blockchain ecosystem being adopted by companies in media, gaming, storage, cloud, and telecommunications. Bitcoin Latinum sold out its initial public presale in November 2020.
Elon Musk, founder of Tesla Motors described Bitcoin in a podcast interview with ARK Invest: “It [cryptocurrency] bypasses currency controls. Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”
Slated to become the world’s largest insured digital asset, Bitcoin Latinum has appointed Marsh & McLennan, one of the world’s leading specialty insurance brokers and risk advisers, to arrange a comprehensive insurance program for the new cryptocurrency through their Asia division, Marsh Asia. The contemplated insurance coverage will protect Bitcoin Latinum holders in case of external theft and internal collusion, potentially up to the full value of their holdings.
Adopting Bitcoin Latinum is Academy Award-winning studio Cross Creek Media. Cross Creek has grossed over $1.7 billion at the worldwide box office, as co-financier/producer of such films as Oscar-winner “Black Swan” and “The Trial of the Chicago 7”, nominated for five Golden Globe awards including Best Picture of 2020. Timmy Thompson, CEO of Cross Creek Media stated, “We are very excited about Bitcoin Latinum and its capabilities as an insured token, as we continue developing award-winning properties. Cross Creek’s portfolio of new media technology investments perfectly position us to take advantage of the digital asset sector in Media and Gaming.”
The giveaway entry deadline is set for April 30, 2021 at 11:59 PM PST. No purchase necessary to enter. The drawing will be held later this year after the Bitcoin Latinum hard fork.
FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Any Bitcoin Latinum offered is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation or be relied upon as personalized investment advice. Bitcoin Latinum strongly recommends you consult a licensed or registered professional before making any investment decision. Only individuals in countries that permit such giveaways are eligible to participate.
Media contact Company: Bitcoin Latinum Kai Okada, Director of Communications E-mail | Website 2100 Geng Road, Palo Alto, California 94303, USA Telephone: +1 800-528-0985
