Category: ASEAN

ASEAN Summit 2023: Indonesia identifies cooperation projects worth US$32 billion through AIPF

Indonesia identified cooperation projects worth US$32 billion through business matching activities carried out during the ASEAN-Indo-Pacific Forum (AIPF), held on September 5-6. As the organizer of the AIPF, which is the flagship event of the 43rd ASEAN Summit, Indonesia is also seeking cooperation for projects from other countries with a total value of US$810 million.

Vice Minister of Foreign Affairs Pahala Nugraha Mansury shared a presentation on the Indonesia’s Plan to Develop Green Infrastructure on the second day of ASEAN-Indo-Pacific Forum (AIPF) at Mulia Hotel, Wednesday (6/9/2023). [Image: Media Center KTT ASEAN 2023/Galih Pradipta/aww.]

“Although those (cooperation projects) had not been able to be finalized at today’s meeting, we hope the business matching will be able to boost cooperation and real understanding of the investment needs expected by each country,” Vice Minister of Foreign Affairs Pahala Mansury said in a press conference about the AIPF in Jakarta on Wednesday (6 September 2023).

The business matching activities involved around 185 domestic and international investors, including PT Bank Mandiri Tbk, Bank Permata, Bank SBI Indonesia, Bank CCB Indonesia, PT Bank Jawa Barat, PT Astra Infrastruktur, PT Amman Mineral Tbk, Dian Swastatika Sentosa, AIIB, Standard Chartered, Sumitomo (SMBC), Commerzbank, ACWA (Saudi Arabia), EDF Energy (France), KEPCO (South Korea), IGNIS (Spain), China Railway Corporation, Sinohydro, China State Construction Engineering, Siemens (Germany), Inpex Geothermal (Japan), British Columbia (Canada) and Actis (the UK).

The business sectors promoted through the AIPF included the development of new and renewable energy, hydrogen, ammonia, alumina refinery, battery supply chains, toll road infrastructure, and ports.

Indonesia put more focus on cooperation with international partners for strategic projects in the fields of energy and oil and gas (five projects), toll-road (nine projects), ports (five projects), health (six projects), fertilizer (three projects), infrastructure (ten projects), tourism (nine projects) and electric vehicle battery ecosystem and supply chains (three projects).

According to Vice Minister of State-Owned Enterprises (SOEs) Rosan Roeslani, the sectors that attracted many investors’ interest are green energy and electric vehicle battery ecosystem.

“There were also many who wanted to participate in the digitalization sector because they could see that there is a lot of our people’s potential that has not been reached by formal financing,” he said. He mentioned that some of the largest SOEs in Indonesia, such as Pertamina, Pupuk Indonesia, PLN, Pelindo, Jasa Marga, MIND ID, and Injourney also participated in the AIPF.

Also participated The National Development Planning Agency (Bappenas), which could become a platform to support the acceleration of investment for several infrastructure projects such as Demak-Tuban, Tuban-Gresik, Tasikmalaya-Gedebage-Ciamis toll roads and the Jatiluhur Drinking Water Supply System.

ASEAN member states such as Brunei, Myanmar, Thailand, Malaysia, and the Philippines presented potential projects in the telecommunications and infrastructure sectors.

ASEAN state members’ leaders, namely President of the Philippines Ferdinand Marcos Jr., the Prime Minister of Singapore Lee Hsien Loong, the Head of Delegation of the Kingdom of Thailand Sarun Charoensuwan, the Prime Minister of Viet Nam Pham Minh Chinh, the Prime Minister of Lao PDR Sonexay Siphandone, the Sultan of Brunei Darussalam Hassanal Bolkiah, the Prime Minister of Cambodia Hun Manet, the Prime Minister of Malaysia Dato’ Seri Anwar Ibrahim, and the Prime Minister of Timor Leste Xanana Gusmao were also present.

Three world leaders were also present as keynote speakers in the leaders talk session, namely Japanese Prime Minister Fumio Kishida, Australian Prime Minister Anthony Albanese, and Canadian Prime Minister Justin Trudeau.

Mansury said that those world leaders emphasized that the priority going forward for the strategic partnership with ASEAN will focus on sustainable cooperation sectors, such as the development of clean energy, innovative and sustainable financing, and the development of green infrastructure.

Mansury said that those leaders emphasized that the priority going forward for the strategic partnership with ASEAN will focus on sustainable cooperation sectors, such as the development of clean energy, innovative and sustainable financing, and the development of green infrastructure.

For more information, please contact:
Usman Kansong,
Director General of Information and Public Communication
Ministry of Communication and Information, Indonesia

ASEAN Summit 2023: Indonesia highlights Indo-Pacific potential for economic cooperation

Through the ASEAN-Indo-Pacific Forum (AIPF) held in Jakarta on 5-6 September 2023 as the flagship event of the 43rd ASEAN Summit, Indonesia showcased 93 cooperation projects worth US$38.2 billion and 73 potential projects worth US$17.8 billion, to encourage cooperation among ASEAN member countries and its partners in the Indo-Pacific region.

With a contribution of 64 percent to global economic growth, the Indo-Pacific is considered a strategic region where cooperation should be promoted instead of geopolitical rivalries and conflict, according to Vice Foreign Minister Pahala Nugraha Mansury.

“AIPF is expected to present the habit of cooperating and building together among ASEAN countries in the Indo-Pacific,” Pahala said during a press briefing after the forum’s opening in Jakarta on Tuesday.

The discussions and business-matching agenda during the two-day forum focus4d on three primary areas of cooperation, including green infrastructure and resilient supply chains, innovative sustainable financing, digital transformation and creative economy.

Those sectors, he said, are expected to be new sources of growth in the ASEAN – which is estimated to grow by 4.5 percent this year and the next, according to IMF.

As part of Indonesia’s ASEAN chairmanship, the AIPF has been held as a platform for promoting constructive dialogue, and concrete collaboration between SOEs and the private sector. “ASEAN is the future and epicentrum of growth. It plays a significant role in the Indo-Pacific region,” SOEs Deputy Minister Rosan Roeslani stated.

From the Indonesian side, the country offers some cooperation in the development of an alumunium shelter worth USD1.8 billion, the development of Benoa Port in Bali worth USD4.3 billion, as well as a project of a fertilizer factory, toll road, and special economic zone in Sanur, Bali.

During the AIPF, Indonesia also promotes cooperation in green infrastructure and sustainable financing in developing the New Capital Nusantara mega-project in East Kalimantan.

AIPF was inspired by the ASEAN Outlook on Indo-Pacific (AOIP) initiated by Indonesia and adopted by ASEAN member countries in 2019. It aims to strengthen an inclusive regional architecture, encourage collaboration, strengthen mutually beneficial cooperation, and take the existing opportunities in the Indo-Pacific region.

AIPF is also aligned with the theme of this year’s ASEAN Summit: making ASEAN the epicenter of growth while maintaining peace, security, stability, and prosperity in the Indo-Pacific. The ASEAN region is considered to have sufficient capital to become the center of the world’s economic growth, with a collective gross domestic product (GDP) of US$ 3.3 trillion in 2021.

For more information, please contact:
Usman Kansong, Tel. +62-816785320
Director General of Information and Public Communication
Ministry of Communication and Information, Indonesia

Please visit:
http://asean2023.id,
https://infopublik.id/kategori/asean-2023,
https://indonesia.go.id/kategori/ragam-asean-2023

ASEAN Plus Three: Realizing regional stability to foster development

The ASEAN members conducted summits with neighboring countries China, South Korea, Japan and the ASEAN Plus Three (APT) consisting of ASEAN members and three countries above. The summits emphasized the need to maintain regional stability between ASEAN and the three East Asian countries in the effort to reduce tension between countries and achieve better joint cooperation between ASEAN and its closest Asian neighbors.

The ASEAN members have conducted summits with neighboring countries namely China, South Korea, Japan, and also the ASEAN Plus Three (APT) consisting of ASEAN members and three countries above.

– 23rd ASEAN-China Summit: Indonesian President Joko Widodo (Jokowi) conveyed his belief to Chinese Prime Minister Li Qiang that the relations between ASEAN countries and China could generate real cooperation if they rely on mutual trust with each other.

Jokowi also drew attention to the escalating tension between China and several ASEAN members regarding the new China Standard Map that was considered to claim the South China Sea. In this matter, Malaysia, Vietnam, and the Philippines rejected China’s new map.

Indonesia then took the initiative to expedite the process of negotiating the code of conduct (CoC) for the disputed waters.

– 24th ASEAN-South Korea Summit: President Jokowi appreciated South Korea for supporting the ASEAN-Indo Pacific Forum (AIPF), which he said showed real inclusive cooperation in maintaining stability and prosperity in the Indo-Pacific.

He conveyed that ASEAN-South Korea’s partnership in the future will focus on energy transition and digital transformation which required large amounts of investment and technology transfer. “Therefore, collaboration and partnerships are needed to realize our common goals,” he emphasized.

– 26th ASEAN-Japan Summit: President Jokowi stated that a Strategic Comprehensive Partnership between the two parties showed mutually beneficial concrete cooperation.

The president addressed that Japan is one of ASEAN’s most active partners and a proponent of the ASEAN Outlook on the Indo-Pacific (AOIP). Japan could also become the main contributor to ASEAN’s development, including in infrastructure development with an annual cost of US$184 billion.

Therefore, he hopes Japan continues to boost its contribution to the region through the ASEAN Infrastructure Fund and ASEAN Catalytic Green Finance Facility to support connectivity and green infrastructure.

Jokowi assessed that both parties have a huge responsibility to keep the region peaceful, stable, and prosperous in the future.

– 26th ASEAN Plus Three (APT) Summit: The president invited the three countries to cooperate in developing an electric vehicle (EV) ecosystem. However, the president noted that this goal would be disrupted if regional peace and stability were not maintained.

Responding to President Jokowi, South Korean President Yoon Suk Yeol mentioned if APT unites, countries in the mechanism could contribute not only to building ASEAN but also to realizing peace and prosperity in the Indo-Pacific and the world.

The results of the four Summits with East Asian countries are expected to realize regional stability for the sake of ASEAN’s future with its adaptive, and inclusive development for the ASEAN community according to Indonesia’s vision in chairing the association this year.

After holding the 42nd ASEAN Summit in Labuan Bajo, East Nusa Tenggara (NTT) in May 2023, Indonesia continued its ASEAN Chairmanship agenda with the 43rd Summit in Jakarta on September 5-7, 2023.

The theme for ASEAN this year is ‘ASEAN Matters: Epicentrum of Growth’, which means ASEAN is relevant and important as a world growth center.

COPYRIGHT (c) ANTARA 2023

TVS Motor Company creates a ‘New Freestyle Performance’ segment with the global launch of it’s all new naked sports TVS Apache RTR 310

Backed by a rich racing pedigree spanning over four decades, TVS Motor Company unveils the latest addition and a new flagship to its iconic Apache line-up: the TVS Apache RTR 310. This highly anticipated naked sports motorcycle is set to redefine the realm of two-wheeled exhilaration with its impressive blend of power, agility and style and is poised to captivate motorcycle enthusiasts and adrenaline aficionados around the world. It promises an unmatched riding experience, setting new benchmarks and offering a gateway into the world of the freestyler.

Vimal Sumbly, Head Business – Premium, TVS Motor Company and Dr Bernhard Heiming, CTO, TVS Motor Company

The TVS Apache RTR 310 leads in innovation right from its unique design, engine layout, heat management and many differentiated technologies which are focused on rider engagement, safety and comfort.

Speaking on the occasion,Mr. Sudarshan Venu, Managing Director, TVS Motor Company said, “TVS Motor Company has always transformed and redefined technology with the TVS Apache series at the helm, where we brought to life tech led innovations such as ride modes, slipper clutch, connectivity, fully adjustable suspension and the Built to Order Platform. The global launch of the all the new TVS Apache RTR 310 marks a momentous occasion for us, as this motorcycle encapsulates Apache’s 18 year legacy of innovation and performance. With the TVS Apache RTR 310, we’re taking our engineering to a whole new level, offering enthusiasts a motorcycle that’s not only powerful but also brings together different technologies to give a unique riding experience. This motorcycle is positioned to be the flagship product for many global markets including India, Europe, LATAM and ASEAN.”

Speaking at the launch, Vimal Sumbly, Head Business – Premium, TVS Motor Company, said, “The TVS Apache RTR 310 is the first of a new generation of Apache’s that inherit a 40 year racing pedigree and are based on our “Track to Road” philosophy. This machine will be the start of a new era of Freestyle Performance Motorcycling with a core essence of thrill and fun. With many defining technologies, this flagship Apache like every other Apache will lead in technology setting new benchmarks for the category. Its cyborg inspired streetfighter design, all range torque and track tuned agility, elevates the fun of motorcycling for the new age riders – Power to Play for the Freestyler.

The TVS Apache RTR series is already established as a formidable force in the naked format amongst premium lifestyle segment, The TVS Apache series recently crossed its 5 million global sales milestone becoming the fastest growing premium motorcycle brand in the segment.”


Redefining Tech:

Segment FirstSegment Defining
Cruise ControlBidirectional Quickshifter
Dynamic Class D LED HeadlampRace Tuned Linear Stability Control
Dynamic Brake LampLightweight aluminum sub frame
5 Ride Modes including all new Supermoto ModeTire Pressure Monitoring System
Climatic Control Seats (Heating and Cooling)Unique Reverse Inclined DOHC Engine
5″ TFT Cluster with GoPro Control, Music Control, Voice Assist, Smart Helmet Device Connectivity, Telephony and NavigationRace Tuned Dynamic Stability Control with 6D IMUCornering ABSCornering Traction ControlCornering Cruise ControlWheelie ControlSlope Dependent ControlRear Lift-off Control

Power to the freestyler, packed with performance:

  • Built from ground-up, the motorcycle’s 312.2 cc engine has a unique reverse inclined DOHC engine that provides a compact engine layout resulting in mass centralisation. The all-new forged aluminium piston is 5% lighter which produces a peak power of 35.6 PS @ 9,700 rpm and maximum torque of 28.7 Nm @ 6,650 rpm. The engine is tuned for all range torque delivery which gives you unlimited thrill across the power band and the fastest in segment 0-60 of 2.81 secs
  • The power is delivered through a 6-speed transmission with all new Bi Directional Quickshifter. The quickshifter is specially tuned for widest operating range starting from 2,300 rpm all the way to the red line. The state-of-the-art Throttle-By-Wire system comprises of an intelligent 46mm large throttle body that provides a crisp power delivery
  • Additionally, the motorcycle offers Race Tuned Linear Stability Control (RT-LSC) that includes straight line dual channel ABS, Cruise control, Linear Traction Control and rear lift protection. The first in segment cruise control maintains the set speed without any throttle or clutch input helping in reducing rider fatigue over long distance riding. The cruise control feature allows you to downshift and upshift up to 2 gears to achieve optimum cruise rpm and use cruise for longer period.
  • Race Tuned Slipper Clutch allows for rapid downshifts, allowing for later braking and more precise cornering. The assist function tightly binds the clutch plates during acceleration, to provide enhanced torque carrying capacity with reduced clutch operating force.
  • The Engine Coolant Jacket Optimization along with 23 rows of radiator tubes is designed to have best-in-class heat management by reducing the engine temperature, allowing for superior performance and higher revving.
  • The motorcycle brings in Glide Through Technology (GTT), a first-in-segment feature that aids ease of riding during slow movements while in traffic or otherwise.

Sculpted Design and Dynamics of the freestyler:

  • The TVS Apache RTR 310 sports a forward biased mass with an upswept sleek tail giving it a unique streetfighter silhouette.The DRL, headlamp and tail lamp are all designed to give a menacing cyborg look. The unique lightweight aluminium sub frame embodies an exoskeletal look that maximizes its agility. The all new lightweight 8 spoke dual coloured alloy wheels enhance the flamboyance.
  • The Hyper Spec trellis frame of the TVS Apache RTR 310 is designed to provide excellent dynamic response at higher speeds, greater agility and ease of manoeuvrability. This is further accentuated with sporty steel tapered handlebars to give the rider precise control. The machine’s ergonomics are optimized for better load distribution to give excellent steering control and good lower back comfort during long rides. The adjustable hand levers provide 4 levels of adjustment for increased accessibility during diverse riding styles.
  • The suspension on the motorcycle is honed and tuned by the experts from KYB. The monoshock with monotube floating piston technology has hydraulic stopper with check valves providing precise damping and smooth dynamic response to achieve best-in-class lateral acceleration and cornering speeds. The TVS Apache RTR 310 is equipped with Michelin Road 5 tyres, that are engineered with next-gen compounds and featuring Michelin’s patented ACT+ technology, to provide superior grip for cornering and offer a premium ride feel.

Advanced Technology for the freestyler:

  • Built on a foundation of advanced technology, the motorcycle is equipped with 5 ride modes namely Urban, Rain, Sports, Track and the all-new Supermoto mode that disengages the rear ABS while maximizing the power. The horizontal 5″ TFT race computer offers unique UI themes, and customizable settings including traction control, cruise control, quickshifter, climatic seat control, TPMS, headlamp brightness and DRL control. The SmartXonnect Bluetooth connectivity links the TVS Apache RTR 310 with your smartphone offering a series of features including telephony, music control, GoPro control, smart helmet connectivity, voice assist, race telemetry, precise turn by turn navigation with what3words, digi docs and crash alert.
  • The motorcycle features first in segment smart lighting features – The all new Class D Dynamic LED Headlamp which has 3 levels of light intensity that changes basis the speed thus providing optimum lighting. The all new Dynamic Brake Lamptriggers rapid flashing of the brake lamp during hard braking.

Customization for the freestyler

  • TVS Apache RTR 310 will be offered on the TVS Built To Order platform which will empower customers to customize and personalize their machine based on 2 customisation kits namely Dynamic kit, Dynamic pro kit and a unique Sepang Blue Race Graphic option. The kits include first in segment technologies for the hardcore motorcycle enthusiasts.
  • Dynamic kit includes fully adjustable suspension with preload, compression and rebound damping adjustment on the front suspension and preload + rebound damping on the rear monoshock which a wide range of adjustability for varied riding conditions. The kit also includes a Tire Pressure Monitoring System to keep real time track of tire pressure for optimum performanceand Brass Coated drive chain that not only enhances the look of the motorcycle but also protects from rust thus increasing the life of the chain.
  • The new Dynamic Pro kit will offer a host of first in segment technology features namely Race Tuned Dynamic Stability Control and Climate Control seat. The RT-DSC features a first in segment 6D IMU that provides the ultimate safety package – Cornering ABS, Cornering traction control, Cornering Cruise control, wheelie control, slope dependent control and rear lift-off control. The IMU is also paired with the cruise function to offer a first in segment cornering cruise control that adjusts the cruising speed of the motorcycle basis the lean angle and use cruise for longer period.
  • Globally the first in motorcycles, Climatic Control seat offers instant heating and cooling by 15oC from the ambient temperature and is controlled via the TFT cluster.
  • With respect to styling, the Sepang Blue – Race Edition, reflects 40 years of TVS Racing heritage through unique race inspired decals paired with the iconic blue, red and white colours.

The TVS Apache RTR 310 boasts of 12 exclusive freestyler accessories including knuckle guard, visor, pannier and top box kit and 14 safety gears and lifestyle merchandize for the customers to choose from. The motorcycle offers 24×7 roadside assistanceand hassle-free servicing with its annual maintenance contracts.

The TVS Apache RTR 310 is launched in 3 standard SKUs and 3 BTO customizations with an attractive pricing:

VariantPrice (Ex-Showroom India)
Arsenal Black (w/o Quickshifter)₹ 2,42,990
Arsenal Black₹ 2,57,990
Fury Yellow₹ 2,63,990
BTO (Built To Order)Dynamic KitDynamic Pro KitSepang Blue₹ 18,000₹ 22,000₹ 10,000

About TVS Motor Company

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products ofthe highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company NortonMotorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate. For moreinformation, please visit www.tvsmotor.com.

For more information, please contact:
KS Harini – ks.harini@tvsmotor.com
Nikita Verma – nikita.verma@tvsmotor.com

Jokowi: ASEAN maintains unity amid its challenges; 43rd ASEAN Summit in Jakarta continues

Amid increasingly complex global and geopolitical challenges, the unity and centrality of the Association of Southeast Asian Nations (ASEAN) since its establishment in 1967 is still maintained and remained strong. Indonesia is holding the ASEAN chairmanship 2023, with the theme “ASEAN Matters: Epicentrum of Growth.” The vision of Indonesia’s chairmanship is to build a resilient, adaptive, and inclusive ASEAN.

President Joko Widodo inaugurates the Plenary Session of the 43rd ASEAN Summit, held on September 5-7 in Jakarta, after the 42nd ASEAN Summit in Labuan Bajo, East Nusa Tenggara, in May 2023.

The statement was voiced by President Joko Widodo (Jokowi) at the opening of the 43rd ASEAN Summit in Jakarta on Tuesday, September 5, where he emphasized that “ASEAN unity until this day is still well maintained, amid differences in opinion between its member countries.”

The summit draws participation from delegates representing 22 countries, including China, Japan, South Korea, the United States, Canada, Australia, and Russia as *ASEAN’s country partners*. The Timor-Leste leader also attend the summit as an observer.

In his opening speech of the 43rd ASEAN Summit’s plenary session, Jokowi underscored that ASEAN unity does not mean that there are no differences in opinion *amongst* member countries. The head of state noted that Indonesia, as a country with diverse ethnicities, cultures, languages, and religions, sees unity as harmony despite differences, including opinions.

“Because differences in opinion, in fact, nurture democracy. It shows that we, as a family, are on an equal footing,” he stated. Jokowi then pushed ASEAN to bolster further its cohesiveness, boldness, and agility to face current global challenges.

“ASEAN needs long-term tactical strategies that are relevant and in line with the expectations of communities,” he said. By retaining ASEAN’s position as a center of growth, Indonesia expects that the bloc will continue to be a relevant actor to the communities in Southeast Asia and the surrounding regions.

President Jokowi also described ASEAN as an “ark” responsible for the well-being of its population of hundreds of millions. Hence, he urged all ASEAN leaders to ensure that the ark can persistently navigate the oceans amid emerging “storms” or challenges.

Like President Jokowi, Indonesian Foreign Affairs Minister Retno Marsudi has called on the unity and cooperation of the bloc in navigating any challenges, including in resolving the Myanmar issue. “ASEAN can only steam forward in full power if we can ensure a peaceful and lasting solution in Myanmar,” Marsudi stated at the ASEAN Foreign Ministers’ Meeting (AMM) on Monday, September 4.

Aside from the firm solidity of ASEAN, President Jokowi also highlighted the principle of equality that is respected in the region. According to Jokowi, equality has become a “rare thing” in the world, considering the injustices and conflicts that continue to occur due to the absence of equality.

“However, in ASEAN, things are different. Equality is, in fact, the primary value that we respect and uphold together in the framework of unity and togetherness so that the big ship of ASEAN can continue to sail,” he affirmed. He also believed that a united ASEAN would be able to become a significant actor in realizing global peace and growth.

As the chair of ASEAN 2023, Indonesia seeks to strengthen the institutional capacity and effectiveness of ASEAN so the region can respond to the challenges in the next 20 years. Indonesia is also committed to preparing the ASEAN Post-2025 Vision towards ASEAN 2045 which must be adaptive, responsive, and competitive and align with the ASEAN Way and the ASEAN Charter.

Reporter: Andi Firdaus, Katrian; Editor: Tia Mutiasari; COPYRIGHT (c) ANTARA 2023

Ground Labs’ GLASS Studio — An Intuitive No-code Approach to Customized Data Discovery

Ground Labs, the leading provider of data discovery solutions, today announces the release of GLASS StudioTM.

GLASS Studio simplifies the creation and deployment of custom data patterns for Enterprise Recon, Ground Labs’ flagship data discovery and management solution.

Using its guided visual builder and no-code interface, GLASS Studio empowers customers and partners to take advantage of Enterprise Recon’s proprietary GLASS TechnologyTM. GLASS Technology enables the rapid, accurate discovery of custom and non-standard data types across on-premise and cloud-based environments and services.

Requiring no coding knowledge, GLASS Studio users can tailor their own data patterns from scratch or modify them from a library of pattern templates. These can be refined with a variety of context rules, checksum validations, boundary rules and exclude/require rules. With its instant test feature, GLASS Studio ensures accurate and error-free customization.

GLASS Studio unlocks the power of Enterprise Recon’s customization features enabling even greater visibility and control of data across the enterprise, whether for compliance, digital transformation or other strategic purpose.

“The release of GLASS Studio marks a new stage for Ground Labs. We are giving customers control of how they search for their own data, allowing them to tailor their data discovery efforts to their own increasingly complex needs,” says Don Kaye, COO and CCO of Ground Labs. “As data protection and privacy regulation mounts around the world, organizations need to be able to discover and protect the growing stores of data quickly, accurately and efficiently.”

GLASS Studio will be generally available from September 5, 2023. Enterprise Recon Pro and Enterprise Recon PII users will be able to take advantage of GLASS Studio’s capabilities from today at no extra cost. For more information, visit www.groundlabs.com, or reach out to info@groundlabs.com.

About Ground Labs

Ground Labs, the leading provider ofdata discovery solutions, enables organizations to discover, manage and remediate all of their data across multiple types and locations — whether it is stored on-premises or in the cloud. Enterprise Recon serves as the most comprehensive and trusted solution in the enterprise to confidently mitigate risk and find personal, sensitive and confidential data. For more information, please visit www.groundlabs.com.

Media contact:
Anne Harding
The Message Machine Ltd (PR for Ground Labs)
anne@themessagemachine.com

Lincotrade Delivers Strong Performance for FY2023 with Revenue Surging 78.0% to S$69.9 Million

Lincotrade & Associates Holdings Limited, (“Lincotrade” or the “Company” and together with its subsidiaries, the “Group”), a specialist in interior fitting-out services, is pleased to announce its full year financial results ended 30 June 2023 (“FY2023”), following the completion of the reverse takeover (“RTO”) of Fabchem China Limited on 3 August 2022.

Highlights:
– Excluding the one-off non-cash RTO-related expenses, the Group’s profit before tax in FY2023 was S$2.8 Million, a year-on-year increase of 168.2%
– Strong performance from the Group’s commercial and showflats business segments, which posted revenue growth of 58.7% and 357.3% respectively, propelled the Group’s revenue growth in FY2023
– Generated net cash flow of approximately S$4.7 million from operations during FY2023
– Total assets increased 26.5% to approximately S$35.1 million, of which cash and cash equivalents increased by 104.5% to approximately S$12.7 million as at 30 June 2023
– The Group’s order book stood at approximately S$58.0 million as at 30 June 2023
– Aiming to expand its order book with a healthy pipeline of new projects, the Group expects the demand for its interior fitting-out services in 2023 to remain strong in view of the projections of Singapore’s Building and Construction Authority (“BCA”), where the total construction demand in 2023 is projected to range between S$27 billion and S$32 billion

Commenting on its FY2023 results, Managing Director of Lincotrade, Mr. Tan Jit Meng said: “FY2023 marks a new milestone in Lincotrade’s history as we completed our RTO and transition into a listed company in our corporate journey.

We look back on a strong first year of listing with good performance across the Group, both operationally and financially, which reflects our core competencies in project management and execution.

With diversity in our business model that has three different business categories, Lincotrade is well-positioned to continue our momentum of organic growth that aligns, and we aim to supplement that growth with a disciplined financial approach.

The positive outlook of Singapore’s construction market reaffirms Lincotrade’s positive trajectory and reinforces our belief in our ability to achieve a stronger growth profile ahead.”

Propelled by higher revenue contribution from the Group’s commercial and showflats business segments, the Group’s revenue surged by approximately S$30.6 million or 78.0%, to approximately S$69.9 million in FY2023: Lincotrade is engaged in the provision of interior fitting-out services, additions and alterations (“A&A”) works and other building construction services primarily for three business segments, commercial, residential and showflats.

As part of the Group’s strategic plans to increase revenue contribution from its commercial segment, the Group has been focused on securing more commercial projects in Singapore and as a result, there was a higher percentage of revenue contribution from some of the Group’s larger commercial projects in FY2023. There was also increased revenue from larger showflats projects in FY2023 while majority of the Group’s residential projects were substantially completed before 30 June 2022.

As a result, revenue contribution from the Group’s commercial and showflats business segments increased by approximately S$17.9 million or 58.7% and approximately S$14.1 million or 357.3% respectively in FY2023.

Gross profit increased by approximately S$2.6 million or 55.0% in FY2023 to S$7.3 million despite lower gross profit margin: Corresponding to increased revenue growth in FY2023, the Group’s gross profit increased to approximately S$7.3 million in FY2023. However, the Group’s gross profit margin dipped 1.5 percentage points to 10.4% in FY2023 (FY2022: 11.9%), mainly due to higher proportion of revenue contribution from the showflats business segment, which registered lower gross margin in FY2023.

One-off non-cash RTO expenses of approximately S$10.8 million includes the deemed RTO expenses of approximately S$9.6 million, share-based payment to the Sponsor and Arranger of approximately S$1.2 million: With the completion of the RTO on 3 August 2022, the Group recognised the one-off non-cash RTO expenses in accordance with the Singapore Financial Reporting Standards (International) in FY2023.

Excluding the one-off non-cash RTO expenses, Lincotrade would have recorded an adjusted profit before tax of approximately S$2.8 million for FY2023, representing a growth of 168.2% as compared to FY2022.

Generated net cash of approximately S$4.7 million from operations during FY2023: The Group recorded operating cash flows before working capital changes of approximately S$3.5 million and net cash of approximately S$4.7 million generated from operating activities during FY2023.

During FY2023, the Group used net cash of approximately S$0.3 million in investing activities and there was net cash outflow of approximately S$0.6 million from financing activities.

Overall, the Group registered a net increase of approximately S$3.8 million in cash and cash equivalents during FY2023.

Total assets increased 26.5% to approximately S$35.1 million, of which cash and cash equivalents increased 104.5% to approximately S$12.7 million as at 30 June 2023: The Group’s total assets comprise non-current assets of approximately S$4.4 million and current assets of approximately S$30.6 million as at 30 June 2023.

The key components of non-current assets are property, plant and equipment of approximately S$1.4 million and non-current portion of trade and other receivables of approximately S$3.0 million. The key components of current assets are cash and cash equivalents of approximately S$12.7 million, contract assets of approximately S$5.3 million and current portion of trade and other receivables of approximately S$11.2 million.

As at end June 2023, the Group’s total equity stood at approximately S$8.8 million and total liabilities amounted to approximately S$26.3 million, of which total non-current liabilities is approximately S$1.7 million and current liabilities is approximately S$24.6 million. The key components of current liabilities are trade and other payables of approximately S$11.7 million and other financial liabilities of approximately S$11.6 million.

Positive industry outlook in Singapore: According to a media release by BCA issued on 12 January 2023, it projects the total construction demand in 2023 (i.e. the value of construction contracts to be awarded) to range between S$27 billion and S$32 billion.

The public sector is expected to contribute about 60 per cent of the total construction demand, between S$16 billion and S$19 billion. Private sector construction demand is projected to be between S$11 billion and S$13 billion in 2023.

Over the medium-term, BCA expects the total construction demand to reach between $25 billion and $32 billion per year from 2024 to 2027. Private sector construction demand is projected to remain steady over the medium-term, reaching approximately S$11 billion to S$14 billion per annum from 2024 to 2027, in view of healthy investment commitments amid Singapore’s strong economic fundamentals.

As at 30 June 2023, the Group’s order book stood at approximately S$58.0 million which generally will be fulfilled during the next two years.

With an aim to expand its order book with a healthy pipeline of new projects, the Group continues to proactively tender for new projects in Singapore, particularly those that are larger in terms of scale and contract value. In January 2023, the Group secured an Asset Enhancement Initiative (“AEI”) for an integrated development in Singapore with a contract value of approximately S$35.0 million, the largest single contract secured by the Group to date.

About Lincotrade

Established in 1991 and based in Singapore, Lincotrade has over 30 years of experience in the interior fitting-out industry and have established a proven business track record since its inception. Since 2006, Lincotrade has had its own in-house processing facility to process, assemble and manufacture Carpentry Products to support and complement its interior fitting-out services.

Lincotrade’s interior fitting-out projects encompass space planning and lay-out, interior construction and finishing works on floorings, ceilings, partitions, doors, fixtures and fittings, mechanical, electrical and plumbing works such as air-conditioning installation, water and sewage fit-outs, lighting, power and other works. Lincotrade also provide A&A works include minor alterations, extension, conversion and upgrading of buildings as well as minor repair and improvement works. In addition, Lincotrade provide building construction services which mainly consist of the construction of showflats and sales galleries.

For more information, please visit http://www.lincotrade.com.sg.

Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

B20 India follow-on: Pertamina to develop Bioenergy-Based Fuels, toward Energy Independence

  • Bioenergy development offers many benefits in accelerating the energy transition.

Pertamina will continue to develop bioenergy-based fuels, using natural resources such as sugarcane, corn, cassava, and sorghum. “Our energy will eventually be bioenergy-based, as Indonesia has abundant resources,” said Nicke Widyawati, President Director of Indonesia’s Pertamina.

Prime Minister Modi addressing the B20 Summit India 2023 on Aug 27. Since taking the B20 mantle from Indonesia in December, 2022, India has worked with business leaders from all G20+ countries through seven task forces and two action councils.
Nicke Widyawati, President Director of PT Pertamina, as Co-Chair for the B20 Task Force on Energy, Climate Change and Resource Efficiency, ensures regional continuity and follow-on from the B20 Indonesia 2022 to B20 India 2023.

“I met with several Indian bioethanol tech representatives in New Dehli as our byproducts can be processed in Indian companies, to follow-up and align our efforts.”

According to Nicke, the bioenergy development offers many benefits in accelerating the energy transition. “For Pertamina, bioenergy is not only about reducing emissions but also decreasing import dependency and creating job opportunities. When we promote plantations, we increase work for a significant amount of the workforce.”

Pertamina sees that to enhance energy independence, it must optimize Indonesia’s natural resources. “It’s truly sustainable when we have resources,” she explained.

Nicke, as Co-Chair for the B20 Task Force on Energy, Climate Change and Resource Efficiency ensures continuity in agendas for B20 Bali and B20 India. Firstly, new & renewable energy. Secondly, a fair and affordable transition. Thirdly, developing countries with large populations such as India and Indonesia, must provide equal access to clean and affordable energy.

“We cannot do it alone; no country can do it alone. Hence, global cooperation is vital. Pertamina itself has initiated several endeavors in the context of global cooperation for energy transition,” Nicke affirmed.

Vice President of Corporate Communication at Pertamina, Fadjar Djoko Santoso, stated that Pertamina is increasingly dedicated to developing energy transition initiatives following global trends.

“Pertamina is pursuing energy transition to achieve national energy resilience, accessibility, affordability, acceptability, and sustainability. In the short term, energy transition will not disrupt energy resilience; on the other hand, it can achieve carbon emission reduction targets,” said Fadjar.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina’s business lines and operations.

Media Contact:
Fadjar Djoko Santoso
Vice President Corporate Communication
PT Pertamina (Persero)
M: +62 813-2063-0765
E: fadjar.santoso@pertamina.com

B20 India Summit: MSMEs Need Access to Funding and Technology to Accelerate Energy Transition

The energy transition in Indonesia must involve MSMEs, which play a significant role in Indonesia’s economic growth. Thus, access to funding and technology is necessary for MSMEs to fully perform their roles as providers of community needs and job opportunities, enabling rural communities to increase their income.

Oki Muraza, Senior Vice President, Research & Technology Innovation at PT Pertamina (L), during the Sustainability Summit B20 held in New Delhi, India (8/24). (Image: Pertamina)

In his presentation at the BNEF forum in New Delhi on August 24, 2023, Oki Muraza, Senior Vice President of Research & Technology Innovation of Pertamina, emphasized MSME involvement’s importance in Indonesia’s energy transition. He stated that community participation is vital in supplying the raw materials for low-carbon energy development. This process also creates job opportunities for the public while corporations benefit from carbon credits.

“The challenge lies in providing capital or funding and technology access to MSMEs, allowing them to effectively contribute to the energy transition and benefit both the community and corporations,” said Oki.

As a developing country rich in natural resources, Indonesia encourages developed nations to provide funding to developing countries, enabling them to develop technology and its implementation with the assistance of countries that possess resources.

“Currently, there is a global economic gap between highly developed and developing nations. Highly developed countries have a GDP per capita of over USD 50,000, while developing countries like Indonesia have a GDP per capita of under USD 5,000. We hope this Capital Flow serves as a form of CBDR (Common but Differentiated Responsibilities),” added Oki.

Oki explained that by involving MSMEs in this energy transition, Indonesia aims to combine international aid, creating job opportunities for the public and benefiting companies in expediting the energy transition.

“We hope that the energy transition in Indonesia can serve as a role model for involving communities, generating employment opportunities, increasing rural incomes, and achieving a Nature-Based Solutions-guided energy transition,” Oki stated.

Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, highlighted that MSMEs are the backbone of the national economy and a significant source of employment, underscoring their vital role in accelerating the energy transition.

“Pertamina has initiated the Desa Energi Berdikari program in 52 regions to provide access to renewable energy for MSMEs and communities, enabling them to become energy-independent,” stated Fadjar.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina’s business lines and operations.

Media Contact
Fadjar Djoko Santoso
Vice President of Corporate Communication
PT Pertamina (Persero)
M.: +62 813-2063-0765
E.: fadjar.santoso@pertamina.com

As International Revenue Soars to $650M with 45% from SEA; Chiratae Expands SEA Regional Advisory Board with the addition of Mr. Puneet Pushkarna

Chiratae Ventures, a leading venture capital firm, announces the appointment of Mr. Puneet Pushkarna to its esteemed Regional Advisory Board, reinforcing its commitment to the Southeast Asia (SEA) market.

The announcement comes soon after Chiratae’s significant milestone -its active portfolio companies surpass $650 million in revenue. Companies focusing on SEA or headquartered now contribute about 45% of the total international revenue across the company’s diverse portfolio. Companies such as Active.ai, Kristala.ai, and Lenskart have driven growth in the SEA market, with Lenskart’s strategic acquisition of Japan’s Own Days last year as a recent highlight.

Given the growing significance of SEA as an investor base and a burgeoning market, Chiratae Ventures has been active in the region, particularly in Singapore and Japan. The appointment of Puneet Pushkarna to the Regional Advisory Board reinforces Chiratae’s dedication to its growth and success in SEA. Puneet will provide strategic guidance to Chiratae’s international operations in this role.

Sudhir Sethi, Founder and Chairman of Chiratae Ventures, shared, “With a strong foothold in the SEA market and our portfolio companies, either focusing on the region or being headquartered there, contributing over 45% of the total revenue, we are thrilled to welcome Puneet Pushkarna to our Regional Advisory Board. Puneet’s addition further bolsters our already formidable Advisory Board, whose collective efforts have significantly established Chiratae as one of India’s premier venture capital funds. His exceptional expertise and diverse background will undoubtedly guide our ventures to even greater heights within the Asian market while fostering stronger connections with our esteemed investors.”

Puneet Pushkarna brings a wealth of experience, currently serving as a General Partner at Solmark, a prominent private equity fund based in Singapore. Throughout his career, Puneet has excelled in nurturing and scaling companies in the competitive global landscape. He previously held the position of President at Headstrong, driving transformative initiatives in the Capital Markets domain through cutting-edge digital technology services. Additionally, Puneet co-founded TechSpan, backed by the prestigious institution Goldman Sachs, where he successfully led business solutions consulting and design thinking ventures, earning recognition as one of the fastest-growing companies in Silicon Valley.

Beyond his business acumen, Puneet is deeply involved in various Boards and Advisory Boards, including his role as Chairman of Core Committee, RIE2025, National Research Foundation, Singapore, Chairman Emeritus of TiE Singapore, and as a Board member of IIM Nagpur and Industry Advisory Board of SP Jain School of Management. Additionally, Puneet serves as a Catalyst at SMART (Singapore MIT Alliance for Research & Technology) and actively engages in philanthropic efforts, supporting initiatives such as the Indian Foundation for the Arts (IFA), the Singapore Indian Fine Arts Society (SIFAS), and the South Asian Heart Society.

Puneet Pushkarna shared his excitement for the new role, adding, “I am honoured to join Chiratae Ventures and contribute to the growth of the platform they have built over close to two decades and its dynamic portfolio in Asia region. There are strong benefits for the Asian block to partner, invest and grow exponentially by understanding each other’s strengths and hope to bridge the gap. The Indian model of solving for population-scale problems using technology-led business models has relevance for the larger region and hoping to help Chiratae and its portfolio expand its regional footprint”

Anoop Menon, Principal-Investments who also leads Investor Relations in the East Asian region, says, “With the changing geo-political environment and India’s blistering economic growth, India has become a strong contender for increased investments and business partnership within Asia. Along with this, there is a strong need to contextualise the India narrative by a leader who has seen both sides closely, and Puneet helps us do that. Having him on our Advisory Board provides a valuable sounding board for our team and founders as we navigate the markets in Singapore, Japan, and other regions of Asia Pacific.”

Chiratae Ventures, recently announced the final close of its first Growth fund at $122 M, oversubscribed by 34% and is in the market for its next flagship Venture capital fund. It will continue looking to cement its presence in SEA and the larger Asian region, and Puneet will help strengthen the firm’s position as a leader in the Venture capital landscape.

About Chiratae Ventures:

Chiratae Ventures is a 16-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Bizongo, Fibe, FirstCry, Flipkart, Lenskart, Myntra, Pixis, PolicyBazaar and Uniphore, amongst many others.

For media inquiries, please contact:

Tanvi Dubey
Chiratae Ventures
+91-8792059986

Neha Chaturvedi
Adfactors PR
+65- 87098749