Company to Embark on Strategic Growth and Market Expansion Post-Listing
KJTS Group Berhad (KJTS or the Company), a building support services provider in Malaysia, Thailand and Singapore, proudly marked the Company’s debut today on the ACE Market of Bursa Malaysia Securities Berhad. The shares opened at RM0.44 per share, showcasing a significant 62.96% premium over the IPO price of RM0.27 per share.
Ms. Elaine Law Soh Ying, Independent Non-Executive Director, KJTS Group Berhad; Dr. Teoh Pek Loo, Independent Non-Executive Director, KJTS Group Berhad; Ms. Azura Binti Azman, Independent Non-Executive Chairman, KJTS Group Berhad; Mr. Sheldon Wee, Executive Director, KJTS Group Berhad; Mr. Lee Kok Choon, Managing Director, KJTS Group Berhad; Ms. Lee Jim Leng, Group Managing Director and Chief Executive Officer, Hong Leong Investment Bank Berhad; Mr. Ng Kok Ken, Independent Non-Executive Director, KJTS Group Berhad [L-R]
KJTS is listed under the stock name “KJTS” with the stock code “0293”.
Specialising in cooling energy management, cleaning, and facilities management services, KJTS and its subsidiaries (“KJTS Group”) is an established player in the building support services industry. The Company’s in-house engineering capabilities and commitment to sustainability have been instrumental in delivering high-quality services and contributing to clients’ environment, social and governance (“ESG”) targets, including reducing carbon dioxide emissions.
The successful initial public offering of KJTS Group Berhad raised RM58.87 million, allocated as follows: RM44.92 million towards the expansion of the cooling energy segment and office expansion in Malaysia, Thailand, and Singapore; RM8.12 million for working capital; and RM5.83 million set aside for listing expenses.
Independent Non-Executive Chairman of KJTS Group Berhad, Puan Azura Binti Azman expressed excitement: “This successful listing marks a new chapter for KJTS. It is a reflection of the hard work and dedication of our team and the confidence the market has in our vision and strategy. We are excited about the opportunities this will bring, allowing us to further expand and enhance our services in Malaysia, Singapore and Thailand.”
“The positive investor response to our IPO underscores the market’s belief in our capabilities and growth potential. We look forward to utilising this momentum to drive KJTS’s growth and to solidify our position in the building support services sector.”
Agape ATP Leads the Charge in Green Energy with Nasdaq Bell Ringing and Major EV Initiatives
Homegrown Nasdaq listed Agape ATP Corporation (ATPC or the Company; NASDAQ: ATPC) announces the Company’s move to push forward its Sustainability Green Energy Initiative at the NASDAQ Opening Bell Ringing Ceremony hosted by ATPC at the Kuala Lumpur Convention Centre recently.
Datuk Ir. (Dr.) Khairol Anuar Mohamad Tawi, Pengerusi, SIRIM Berhad; YBhg. Datin Saidatul Badru Tun Said; YBhg. Puan Sri Datin Noraini Binti Mohd; YB Tan Sri Dato’ Johari Bin Abdul, Yang di-Pertua Dewan Rakyat; YBhg. Datin Sri Dr. Yvonne Teng; YBhg. Dato Sri Dr. How Kok Choong J.P., Founder & Global Group CEO, AGAPE ATP Corporation; Professor Dr. MD Nasir Ibrahim, Penasihat Koporate Agape ATP Corporation; Mr. Hiren Krishnani, NASDAQ ASEAN Investor Relations and IPO Director; YBhg. Dato’ Rohaizi bin Bahari, Pengarah Kanan Sektor Perdagangan Pengedaran dan Perniagaan (SDTP); Dr. Fernando Cortizo, Executive Director of Agape ATP Corporation [L-R]
The event held marks a significant milestone for ATPC and was attended by the Speaker of the Dewan Rakyat, YB Tan Sri Dato’ (Dr.) Johari Bin Abdul; Representing the Honourable Minister of Domestic Trade and Cost of Living YB Datuk Armizan Bin Mohd Ali is Senior Director, Trade, Distribution, and Business Sector, YBhg. Dato’ Rohaizi Bin Bahari; Chairman of SIRIM, YBhg. Datuk Ir (Dr) Khairol Nuar Mohamad Tawi; the NASDAQ ASEAN Investor Relations and IPO Director, Mr. Hiren Krishnani; and guests and business partners from Japan, Australia, Thailand, Singapore, Germany, the United States of America, China, Indonesia, and Taiwan.
Dato’ Sri Dr. How Kok Choong, Founder and Global Group CEO of ATPC said, ‘It is with great honour and immense gratitude that we welcome our distinguished guests, partners from around the globe, and the respected dignitaries of Malaysia to this momentous NASDAQ Opening Bell Ringing Ceremony. Your presence today is a testament to our shared vision for a sustainable future.”
Central to ATPC’s sustainability strategy is a Memorandum of Agreement with Volt Industries Sdn. Bhd. (“VOLT”) in November 2023, marking a significant milestone in both parties’ collaborative efforts. While the acquisition of a 51% stake in VOLT is currently its’ final stages, this partnership is expected to play a crucial role in ATPC’s Sustainability Green Energy Initiative. This initiative includes the development and installation of 50 Electric Vehicle (EV) charging stations in Pahang, Malaysia, which is already in development progress.
Meanwhile, following a Memorandum of Agreement signed in November 2023 between ATPC and Oriental Industries Enterprise Sdn. Bhd. (“OIE”), a specialist in the EV bike industry, both companies established a Special Purpose Vehicle (SPV), with each holding an equal of 50% share, focusing on the distribution and marketing of EV bikes. Highlighting this partnership, the Ceremony featured an impressive showcase of EV bike display which will go to market in key cities, especially in the Klang Valley region, after inspection and obtaining clearance from SIRIM.
Dato Sri How elaborated, “As we forge ahead with our pivotal collaborations with various companies, we are thrilled to be at the forefront of Malaysia’s green energy transition. Our initiative of establishing 50 EV charging stations in Pahang, coupled with the plans of establishing a 300 MWp solar farm in Sabah, is a bold stride towards our commitment to sustainable development. These efforts, enhanced by our partnerships, are a testament to how environmental sustainability and corporate growth can successfully coexist. We stand here today, poised for a future where green energy is not just an option, but a driving force for innovation and prosperity.”
Further contributing to this wave of sustainable initiatives, VOLT has independently signed a Memorandum of Understanding (MOU) with KAB Smart Solar Energy Sdn. Bhd. (“KAB Smart Solar”). This agreement opens avenues for collaboration in Engineering, Procurement, Construction, and Commissioning services specifically for Solar Photovoltaic systems, highlighting the synergy between VOLT’s EV charging station expertise and KAB Smart Solar’s proficiency in the realm of solar energy.
The event draws over 130 global political and business leaders as guest speakers, exploring multilateral cooperation for a shared tomorrow
The 17th AFF, themed Multilateral Cooperation for a Shared Tomorrow, is taking place at the HKCEC for two consecutive days. It is expected to attract over 3,000 finance and business elites, including more than 70 delegations from overseas and Mainland China, boosting the convention and exhibition industry’s contribution to economic growth
The opening day of the Forum featured a keynote luncheon speech by Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network. He discussed how Responsible Capitalism will foster public-private partnerships and promote sustainable development
Finance ministers from various countries gathered in the Plenary Session I – Charting the Path to a Shared Future to share how they collaborate in addressing global economic issues within limited fiscal space and resilience. In Plenary Session II – Finance for Sustainability and The Role of Multilateralism, speakers delved into the impact of multilateral cooperation on regional economic development, financial standards and sustainable finance
Tomorrow’s Forum promises equal appeal, with a keynote speech by Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller, Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business. He will address prospects for multilateralism and modern finance
The 17th Asian Financial Forum 2024 (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), opened today at the Hong Kong Convention and Exhibition Centre (HKCEC). With the theme Multilateral Cooperation for a Shared Tomorrow, the two-day Forum serves as the first major financial and business event in the region for 2024. Over 130 finance officials, international financial and multilateral organisations, financial institutions and private-sector leaders from around the world gather in Hong Kong as speakers. They analyse global economic dynamics, promote collaboration among stakeholders, explore sustainable economic development models and identify opportunities for multilateral cooperation.
The Forum is expected to attract over 3,000 finance and business elites, including more than 70 delegations from Mainland China, Southeast Asia, Japan, Korea, the Middle East, Australia, Europe, and the United States. The Forum aims to showcase the vibrancy of Hong Kong and promote the convention and exhibition industry to participants from all over the world as an economic growth driver.
The Opening Session of the Forum featured opening remarks by John Lee, the Chief Executive of the HKSAR, special remarks by Li Yunze, Minister, National Financial Regulatory Administration (NFRA) and welcome remarks by Dr Peter KN Lam, Chairman of the HKTDC. Dr Lam said: “A year post-pandemic, what we all are seeking are opportunities to grow and transform and create a better world for future generations. Opportunities that can only come to fruition as a result of sustained multilateral cooperation. Themed ‘Multilateral Cooperation for a Shared Tomorrow’, the Forum brings together leading policymakers and industry players from the world of finance and business to engage in meaningful, forward-looking conversations and find ways to collaborate for success on today’s most pressing issues.”
The two-day Forum encompasses diverse events, including plenary sessions, policy dialogue, keynote luncheons and business networking opportunities. Through meetings and exhibitions, it delves into global economic outlook, opportunities in China, investment prospects, green finance, financial technology, the ecosystem of family offices, renminbi internationalisation and financial development in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). These hot topics comprehensively showcase Hong Kong’s advantages as an international financial centre.
Diverse speakers from the Middle East and ASEAN for plenary discussions This year’s Forum focuses on exploring opportunities in Mainland China, the Middle East and ASEAN. One highlight was the Plenary Session I – Charting the Path to a Shared Future, hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR. The session brought together financial officials from around the world to share their countries’ outlook on financial policies for this year. The guest speakers included Ali bin Ahmad Al Kuwari, Minister of Finance of Qatar; Julapun Amornvivat, Deputy Minister of Finance of Thailand; Mohamed Maait, Minister of Finance of Egypt; Suahasil Nazara, Vice Minister of Finance of Indonesia; and Marko Primorac, Minister of Finance of Croatia.
Following that, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, hosted a Policy Dialogue session Towards International Economic and Financial Cooperation. The session discussed how to maintain financial system stability amidst changes in monetary policies, fluctuations in commodity prices and frequent extreme weather events. The guest speakers in this session included Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank; Lkhagvasuren Byadran, Governor of the Central Bank of Mongolia; Thomas Helbling, Deputy Director of the Asia and Pacific Department at the International Monetary Fund (IMF); Ian Johnston, Chief Executive of the Dubai Financial Services Authority; and Scott Morris, Vice President of the Asian Development Bank. They exchanged valuable insights on issues such as how to respond to global financial crises through multilateral cooperation.
Prof Sachs from the UN analysed responsible capitalism The Keynote Luncheon on the first day heard welcome remarks by Paul Chan, Financial Secretary of the HKSAR. This was followed by a keynote address from Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network. The speech explored how Responsible Capitalism could foster public-private partnerships and drive the economy towards sustainable development. Following Prof Sachs’ speech, Ronnie Chan, Chair of Hang Lung Properties Limited, moderated a discussion session.
Financial and business leaders discuss global economy, cooperation opportunities The afternoon session began with the Panel Discussion on Global Economic Outlook, moderated by Victor Fung, Chairman of Fung Investments. The panel included esteemed speakers such as Lorenzo Bini Smaghi, Chairman of Société Générale; Jenny Johnson, President and Chief Executive Officer of Franklin Templeton; Chartsiri Sophonpanich, President of Bangkok Bank Public Company Limited; and José Viñals, Group Chairman of Standard Chartered plc. They shared insightful perspectives on prospects for the global economy and future policy directions.
The afternoon session continued with Plenary Session II – Finance for Sustainability and The Role of Multilateralism, once again hosted by Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR. The panel featured Muhammad Sulaiman Al Jasser, President of the Islamic Development Bank; Alexandra Jour-Schroeder, Deputy Director-General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission; Hala El Said, Minister of Planning and Economic Development of Egypt; and Dilma Rousseff, President of the New Development Bank. They delved into such topics as the impact of nearshoring, rising protectionism and multilateral cooperation on regional economic development, financial standards and sustainable financial development.
Empowering global economic integration by unleashing China’s potential The Panel Discussion on Stewarding China’s New Chapter debuted this year, aiming to explore the potential of Mainland China’s market and analyse the role and advantages of Hong Kong under strategic initiatives launched by the mainland. The session was moderated by Fan Gang, President of the China Development Institute, and featured prominent figures from the financial and business sectors who are well-versed in Chinese market trends. They shared insights on how businesses worldwide could seize opportunities presented by the rapid development in Mainland China. The guest speakers included Jan Craps, CEO & Co-Chair of Budweiser APAC and APAC CEO AB InBev; Fang Feng-lei, Founder and Chairman of Hopu Investments; Liu Yang, Chairperson and Chief Investment Officer of Atlantis Investment Management; Jung-Ho Rhee, Vice Chairman of Mirae Asset Securities; and Anil Wadhwani, Chief Executive Officer of Prudential plc.
The first day of the Forum also heard the results of a joint market survey by the HKTDC and Knowledge Partner PwC on the financial industry’s views on application of artificial intelligence. Raymund Chao, Chairman of PwC Asia Pacific and China, pointed out during the Forum that the survey revealed a growing prevalence of AI applications in financial services. Survey findings emphasised the importance for the industry of seizing opportunities and harnessing the developmental potential of AI more effectively.
Thematic sessions discussed topics trending across the world, covering the global economic outlook, impact of sustainability on insurance and capital markets, as well as collaborative opportunities in asset and wealth management. Additionally, Global Spectrum, Dialogues for Tomorrow, and Fireside Chat sessions brought together pioneers from different industries to delve into current hot topics such as next-generation entrepreneurship, cybersecurity, food supply and Islamic finance.
Unlocking investment opportunities with over 400 projects at AFF Deal-making
To facilitate substantial cooperation, the HKTDC and Hong Kong Venture Capital and Private Equity Association (HKVCA) are co-organising AFF Deal-making. This platform enables participants to engage in one-on-one meetings, connecting them with funds and investment projects from around the world. The event focuses on key industries such as financial technology, environment, energy and clean technology, medical technology, deep technology and food and agriculture. This year’s AFF Deal-making has attracted over 200 investors and more than 400 projects. Following conclusion of the Forum tomorrow, participants can use the deal-making online platform for virtual meetings until 30 January (Tuesday) to continue exploring key opportunities in different fields.
Creating business connections through multiple exhibition zones The Forum continues to feature exhibition zones including Fintech Showcase, Fintech HK Startup Salon, the InnoVenture Salon and Global Investment Zone which bring together over 100 exhibitors, including local and global financial institutions, technology companies, start-ups, investment promotion agencies and sponsors. Participants include knowledge partner PwC, along with HSBC, Bank of China, Standard Chartered Bank, UBS, China International Capital Corporation (CICC), Huatai International and Cyberport.
The Global Investment Zone features participation from countries and regions including Canada, Dubai, Egypt, Finland, Kuwait, Luxembourg, Mainland China, Malaysia, Mauritius, Portugal, Spain and the UAE. Investment promotion agencies introduce local investment environments and potential projects on-site. The InnoVenture Salon is dedicated to supporting start-up development and provides a platform for more than 100 start-ups to connect with international investors and potential partners. At the FintechHK Startup Salon 60 enterprises from Hong Kong, Australia, Austria, France, Japan, Korea, the Mainland, Singapore, Thailand, the United States and Vietnam showcase innovative concepts in areas such as AI, blockchain, insurtech, payment technology, regulatory technology and wealthtech.
Momentum continues at key sessions tomorrow AFF continues tomorrow with rich content, including diverse thematic discussion sessions and workshops that comprehensively analyse trends in capital markets, RMB internationalisation, philanthropy, green smart cities, financial technology, healthcare investments and more. A highlight will be the lunch session where Prof Douglas W Diamond, Nobel Laureate in Economic Sciences in 2022 and Merton H Miller, Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, will deliver a keynote speech on multilateral cooperation, deconstructing the phenomenon of global geopolitical fragmentation.
A highly anticipated session is the Dialogue with Bob Prince, featuring Mr Prince, Co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund. He will share his investment insights and views on multilateral cooperation. Another new session, CIO Insights, will also take place tomorrow morning, bringing together chief investment officers from internationally renowned institutions to share their experiences in guiding asset allocation and investment decisions during economic uncertainty. Other featured AFF guests tomorrow include Susan Chan, Senior Managing Director, Head of Asia Pacific, Head of Investments, Asia Pacific of BlackRock; René Buehlmann, Chief Executive Officer, Investments of abrdn plc; Janet Perumal, Senior Managing Director, Wellington Management Company; and Min-Lan Tan, Head of Chief Investment Office APAC of UBS AG.
To allow overseas participants to experience the vibrant colours of Hong Kong and promote the conference and exhibition economy, the organisers have collaborated with several organisations to offer exclusive experiential activities for those visiting Hong Kong, including free admission to the Hong Kong Palace Museum, Hong Kong’s iconic Aqua Luna red-sail junk boat, TramOramic tour, and open-top Big Bus arranged by the Hong Kong Tourism Board. In addition, they can enjoy dining discounts at various restaurants and special offers at local tourist attractions, as well as participate in guided tours.
The 17th Asian Financial Forum kicked off today at the HKCEC. The Forum runs for two consecutive days under the theme Multilateral Cooperation for a Shared Tomorrow
John Lee, Chief Executive of the HKSAR, delivered opening remarks
Dr Peter KN Lam, Chairman of the HKTDC, delivered welcome remarks
Li Yunze, Minister of National Financial Regulatory Administration (NFRA) delivered the special remarks in the Opening Session
Paul Chan, Financial Secretary of the HKSAR, participated in the Keynote Luncheon of the first day Forum and delivered the welcome remarks
Prof Jeffrey D Sachs, President of the UN Sustainable Development Solutions Network, delivered the keynote address
Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR (left), hosted two Plenary Sessions at this year’s AFF
This year’s AFF Deal-making has attracted over 200 investors and more than 400 projects. Following conclusion of the Forum tomorrow, participants can use the deal-making online platform for virtual meetings until 30 January (Tuesday) to continue exploring key opportunities in different fields
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Olympus Corporation (Olympus), a global MedTech company committed to making people’s lives healthier, safer and more fulfilling, today announced the closing of the acquisition of Taewoong Medical Co., Ltd, (Taewoong Medical), a Korea-based manufacturer of medical devices such as gastrointestinal (GI) metallic stents[1].
Taewoong Medical will join Olympus as a subsidiary, enabling Olympus to strengthen its GI EndoTherapy product portfolio capabilities, contribute to improving patient outcomes through comprehensive solutions, and elevate the standard of care.[2]
Taewoong Medical offers a variety of medical devices including metallic stents designed for biliary tract, esophagus, colon, and duodenum treatments. With the closing of the transaction, which was first proposed and announced in February 2023, Olympus will immediately oversee its offices and operations in Korea. Taewoong Medical will join Olympus’ Therapeutic Solutions Division, helping Olympus become a comprehensive solutions provider in the GI market with varied GI EndoTherapy solutions by bringing together talent and technology. The addition of Taewoong Medical to Olympus’ portfolio will contribute to the company’s focus on enhancing patient care pathways.
Niti-S Hot SPAXUS™ Stent & Electrocautery Stent Delivery System
Olympus acquires Taewoong Medical for approximately $370 million in cash, with $255.5 million paid upfront at closing, and up to $114.5 million of payments following attainment of technical and revenue milestones over a two-year period.
The transactions closure follows review by the Korean Fair Trade Commission.
Comment from Gabriela Kaynor, Global Division Head of Therapeutic Solutions Division at Olympus: “We are thrilled to incorporate Taewoong Medical’s GI metal stent portfolio, innovation capabilities, and talented team into our GI EndoTherapy Business Unit. Taewoong and Olympus share a passion for supporting patients suffering from GI diseases, and the completion of the acquisition is a vital milestone in our commitment to provide a full portfolio of clinically differentiated technologies to our GI customers. The acquisition will immediately expand our offerings globally in this critical segment of our business. With Taewoong Medical, we celebrate the opportunity to create value for our stakeholders and elevate the standard of patient care.”
Comment from Kyong-min Shin, President and CEO of Taewoong Medical: “As a leading medical company, Taewoong Medical manufactures a vast range of medical equipment of our own designs. Our objective is to maintain high levels of innovation, knowledge, and technical expertise to provide solutions for patients’ comfort. Together with Olympus, we are pleased to be able to approach more patients around the world.”
Overview of Taewoong Medical (as of Jan. 2024)
Company name: Taewoong Medical Co., Ltd.
Address: Gimpo-si, South Korea
Established: 1992
President and CEO: Kyong-min Shin
Revenue: 7,572 million JPY (as of Dec. 2022)[3]
Operating income: 1,087 million JPY (as of Dec. 2022)[3]
Business: R&D and manufacturing of non-vascular metallic stents
Number of employees: 410
Manufacturing location: Gimpo-si, South Korea
International footprint: Taewoong Medical products are sold in more than 80 countries
All company names and product names mentioned in this website are trademarks or registered trademarks of their respective companies.
[1] A medical device made of a metallic mesh tube that is placed for dilating a stenosis within a tract such as biliary, esophagus, colon and duodenum. [2] Products or devices presented include future technology which may be pending regional regulatory approval and are not available for sale in all regions. [3] Calculated at the exchange rate of JPY 11.05 per 100 KRW (exchange rate as of the end of December 2023).
About Taewoong Medical For over thirty years, Taewoong Medical has been dedicated to advancing medical technology and improving patient quality of life through the production and delivery of high-quality and innovative minimally invasive medical devices. Our flagship product, the Niti-S™ gastrointestinal stent, has been widely recognized as a pioneering and innovative solution, fulfilling the diverse needs of healthcare professionals globally. As our business continues to grow, we are expanding into new areas such as endoscopic instruments, interventional radiology and neurology devices, and pulmonary valves, with the aim of further improving patient outcomes. For more information, visit www.taewoongmedical.com.
About Olympus At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide best-in-class solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit https://www.olympus-global.com/ and follow our global X account: @Olympus_Corp.
Dazz, the leader in security remediation, todayannounced that CRN®, a brand of The Channel Company, has named Dazz to its annual Cloud 100 list. This list honors the 100 leading cloud companies for 2024 across five key categories: infrastructure, monitoring and management, storage, software, and security.
CRN’s Cloud 100 list spotlights technology suppliers for their commitment to channel partners as well as their demonstrated innovation in cloud-based technology development. This list is the trusted resource for solution providers looking for technology vendors best positioned to support their cloud product and services needs.
The Dazz Unified Remediation Platform gives CISOs holistic visibility across all their environments and detection tools for faster response to security issues, which is invaluable in the wake of increased regulations to disclose and fix cybersecurity risks. The platform features several patent-pending technologies that trace any security finding to resources up and downstream, including resources that originate security issues and those that are impacted by them. Armed with automated root cause analysis, security and development teams leverage Dazz assistive and automatic remediation actions to reduce mean-time-to-remediate (MTTR). According to a recent IDC research paper, Dazz customers reduce the time to remediate by as much as 90 percent.
“We are honored to be recognized by CRN as one of the top 100 cloud companies for 2024, and take pride in empowering security leaders with an industry-first remediation solution that covers everything organizations they develop and run in code, clouds, applications, and infrastructure,” says Merav Bahat, Co-Founder and CEO at Dazz. “As security leaders navigate new regulatory demands and an ever-changing threat landscape, we look forward to collaborating with our partners to deliver significant value to our customers, including faster fixes, increased productivity, and greater business innovation.”
“As migration to the public cloud and cloud-based software accelerates, enterprises increasingly depend on innovative, secure cloud services to harness the cloud’s agility and scalability,” said Jennifer Follett, VP, US Content and Executive Editor, CRN, The Channel Company. “The companies selected for this year’s Cloud 100 list demonstrate a strong commitment to supporting cloud computing solution providers with leading-edge products and services. Congratulations to those on this year’s list! We look forward to seeing how they propel innovation and channel success in cloud computing throughout the year ahead.”
CRN’s Cloud 100 list will be featured in the February 2024 issue of CRN magazine and online at www.crn.com/cloud100.
China Resources Corporate Service and SWCS Corporate Services, two renowned professional corporate services providers, jointly announce the successful completion of the acquisition yesterday.
More than 100 guests, including Dr. Kenneth LAM, Vice Chairperson of the General Committee of The Hong Kong Listed Companies; Mr. Levin WANG, CEO of Huatai International; Mr. LAN Yi, Vice General Manager of China Resources Group; representatives from the Hong Kong Chinese Enterprises Association, Mainland Chinese enterprises in Hong Kong, industry associations, financial institutions, and professional service organizations, attended the completion ceremony in Hong Kong.
At the event, Mr. ZHANG Liqiang, Executive Director, General Manager of China Resources Corporate Service, expressed his gratitude to all the guests. He stated in his speech that China Resources Corporate Service is a new business unit of China Resources Group, focusing on the modern services industry and carrying the significant mission of exploring and laying out modern services in Hong Kong and mainland China. After more than two years of effort, the company now boasts a diversified business portfolio including comprehensive corporate services, supply chain services, and sci-tech services. The acquisition of SWCS Corporate Services signifies China Resources Corporate Service’s commitment to implement China Resources Group’s business strategy in Hong Kong, explore the modern service industry, and develop professional corporate services. Following the acquisition, China Resources Corporate Service will leverage Hong Kong’s unique advantage of “backed by the Motherland, connected to the world,” to focus on customer needs and promote the rapid development of SWCS Corporate Services.
Dr. Maurice NGAI, Director and CEO of SWCS Corporate Services, remarked that the acquisition is a significant milestone for the company. Since its establishment in 2011, SWCS Corporate Services has mainly provided mature and top-notch secretarial and compliance services for listed and private companies, while expanding into diversified services such as ESG Reporting and Consultancy, Employee Stock Ownership Plan (ESOP), Private Trust Services, Shareholder Identification Services, and Continuing Professional Development Training Services through the SWCS Academy and other Business Supporting Services. With a deep understanding of mainland corporate culture and the Hong Kong capital market, SWCS Corporate Services has become a preferred professional service provider, leading in secretarial and compliance services for listed companies in Hong Kong and establishing an exceptional corporate image. With the resources from China Resources Corporate Service, SWCS Corporate Services can further enhance its service capabilities to listed companies in the region, expand its influence in Hong Kong and mainland markets, and elevate the company to a new level.
Moving forward, both parties will leverage their respective strengths to improve existing professional services, understand the needs of domestic and international corporate clients, continuously expand the professional services market, and contribute to the high-quality development of professional corporate services in Hong Kong and mainland China.
About China Resources Corporate Service China Resources Corporate Service Limited is committed to becoming a leading modern service enterprise in Hong Kong and mainland China with significant market influence. The company’s diversified business portfolio includes comprehensive corporate services, supply chain services, and sci-tech services. Its subsidiary has been recognized as a “National High-Tech Enterprise” , and its secretarial service company holds a “Trust or Corporate Service Provider (TCSP)” license. Its intellectual property company was selected as one of the “Top 10 Influential Brands in Chinese Intellectual Property” by the World Brand Lab in 2023.
About SWCS Corporate Services SWCS Corporate Services Group (Hong Kong) Limited (SWCS) is a forward-looking professional corporate consulting service provider. Adhering to a client-centric principle, SWCS operates with a cost-effective business model and a unique direct service approach, coupled with exceptional technological services for clients. Whether enterprises are in the pre-listing, listing, or post-listing stages, SWCS can cater to their different needs. Its professional services include company secretarial and compliance, ESG reporting and consultancy (including climate change), family legacy and corporate talent retention, investor relations, SWCS Corporate Academy, and other corporate services. SWCS holds a “Trust or Corporate Service Provider (TCSP)” license.
Ajna enables users to lend or borrow with almost anything, no permission necessary.
The Ajna Protocol, which was initially deployed in June of 2023 and was subsequently upgraded to address a griefing vector, has completed an additional series of security audits and relaunched. While the initial deployment was limited to the Ethereum Mainnet, further deployments have now been made to Arbitrum, Base, Optimism, and Polygon, making the Ajna Protocol the only place on Mainnet and EVM sidechains/L2s where users can borrow and lend against almost anything in their wallets.
Ajna Banner
The Ajna Protocol is a suite of permissionless, immutable smart contracts that allow users to create lending markets for both ERC20 and ERC721 tokens. The contracts do not rely on governance or external price feeds (“oracles”) to function, which opens up an entire universe of previously infeasible asset pairings. For example, users can create lending markets that allow them to borrow against NFTs, real world assets, blue chip tokens, or “meme-coins.”
The mission of the Ajna Protocol is to improve on the existing DeFi borrowing and lending space by giving users a truly decentralized system with more options and less systemic risk. When using the Ajna Protocol, users are entirely in control of their own risk decisions. While it’s anticipated that front end service providers will abstract much of the complexity away from end users, the protocol’s designers believe this is a critical component of a scalable DeFi system.
“We designed the Ajna Protocol to remedy the deficiencies we saw in DeFi lending markets, namely that they were not actually decentralized and were not built to scale. Ajna lets users experience truly permissionless and nearly limitless borrowing/lending arrangements. We look forward to Ajna becoming a new building block for the DeFi ecosystem.”
– Greg Diprisco, co-founder of Ajna Labs LLC
Ajna is immutable and built without governance, which means that the protocol cannot be altered or updated once it has been launched. It’s also designed without price feeds, commonly referred to as “oracles,” in order to remove a common point of failure and to facilitate the borrowing/lending of “long-tail” assets which lack available price feeds. The Ajna Protocol should be considered experimental software; users should carefully research the protocol’s design and study its codebase before interacting with its contracts.
Many audits were conducted on the Ajna Protocol over its two years of development. Prior to the first deployment, its core pools contracts were audited by Sherlock (public contest), Prototech, Trail of Bits, Code4rena (public contest), and a subsequent Sherlock (public contest) audit. Its periphery contracts, including its innovative grant coordination fund, were audited by Sherlock (public contest), Quantstamp, Trail of Bits, Prototech, Code4rena (public contest), and a subsequent Sherlock (public contest) audit. The new deployment had its pool contracts audited once again by Sherlock (public contest), Certora, Prototech, and by Kirill Fedoseev, the independent security auditor who discovered the initial griefing vector. Some periphery contracts were audited again by Prototech. In its audit, Certora provided formal verification for several predefined rules. Cumulatively, the Ajna Protocol has undergone 10 separate security audits on the various components of its codebase.
As of the redeployment, there are two front end service providers which offer access to the Ajna Protocol: Summer.fi and Mom.
Company Looks Forward to Fresh Business Development Opportunities Following Court’s Decision
Magma Group Berhad (Magma or the Company), a dynamic investment holding group, today announced a significant development in the Company’s ongoing legal proceedings.
Dato’ Sri Thomas Liang Chee Fong, Managing Director of Magma
During the Case Management held on 9 January 2024, the Court granted permission for Public Bank Berhad (“the Plaintiff”) to withdraw the Suit against the Defendants, which includes Astaka Mekar Sdn Bhd, a wholly-owned subsidiary of Magma. This withdrawal is executed with the liberty to file afresh and without any order as to costs, marking a pivotal moment for the Company.
The Suit, originally filed by Public Bank Berhad against Magma Group Berhad’s subsidiaries and associated parties, stemmed from disputes regarding the settlement of outstanding sums under various Term Loan Facilities and Overdraft Facility. The Plaintiff had sought substantial repayments, including accrued interest, from the Defendants under these facilities.
In the positive turn of events, the Court had allowed for a withdrawal of the Suit, signals a hopeful stride for Magma Group Berhad. It offers an avenue for the Company to recalibrate its focus and strategies for future opportunities, untethered from the constraints of this protracted legal battle.
Dato’ Sri Thomas Liang Chee Fong, Managing Director of Magma Group Berhad, expressed his views on this development: “This decision marks a watershed moment for Magma Group Berhad. It allows us to start afresh, leaving behind the challenges we’ve faced in the legal arena. Our focus now shifts to harnessing new opportunities and reinforcing our commitment to sustainable business growth. We are optimistic about the future and are poised to explore new avenues that align with our strategic objectives.”
Magma remains steadfast in the Company’s commitment to uphold strong corporate governance and ethical business practices. The Company believes that this new chapter will enable it to strengthen its market position and deliver greater value to its shareholders and stakeholders.
The Company will continue to provide updates on further developments in due course.
As at 10 January 2024, 12:30 P.M., the share price of Magma stood at RM0.270, representing a market capitalisation of RM255.2 million.
Malaysia, Singapore, Thailand and Vietnam are top target markets
About 85% of businesses in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) plan to maintain or grow their sales to the ASEAN bloc of countries in the next three years, according to a research report released by the Hong Kong Trade Development Council (HKTDC) and UOB today. The report – Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area – also indicated that Malaysia, Singapore, Thailand and Vietnam were the top sales markets for expansion-minded GBA businesses, while Vietnam remained top choice for procurement and production outsourcing.
Overall, the report shed some light on why GBA businesses found ASEAN appealing. The sheer scale of the ASEAN market was singled out by 55.9% of research respondents as a key catalyst for their expansion plans. Scale was ahead of the 49.6% accorded to government incentives and investment policies and 32.8% which cited enhanced e-commerce access.
The HKTDC-UOB survey conducted in the third quarter of last year took the form of a questionnaire completed by 671 GBA enterprises, supplemented by in-depth interviews with a representative number of GBA businesses.
More GBA companies plan to expand into ASEAN markets The survey found more than 70% of respondents planned to expand to ASEAN in the next three years, compared with 60% in a similar survey conducted in 2021. The number is even higher for those already established in ASEAN, with 96% of such businesses planning to maintain or expand operations in the next three years.
GBA companies across the four surveyed sectors – consumer goods; business, professional and financial services; real estate, hospitality and construction; and technology, media and telecommunications – all saw Malaysia, Singapore and Thailand as having the greatest potential to thrive in. In terms of industrial goods, GBA businesses considered Malaysia, Singapore and Vietnam their priority markets. Malaysia’s popularity across companies in the four sectors was considerably higher than in the 2021 survey.
Key challenges GBA businesses regarded navigating local government policies and regulations (48.6%) as the key challenge to expanding their market share within ASEAN, followed by cultural or language barriers (38.7%) and difficulties in obtaining talent (26.4%). This differs notably from the 2021 survey, which identified inadequate infrastructure, difficulties in finding the right local partners and the increasing cost of doing business as the top three challenges.
Mrs Christine Ip, CEO – Greater China, UOB, said: “UOB is dedicated to driving business connectivity between ASEAN and China. We see the a strong trend among GBA enterprises to spread their wings abroad and boost long-term growth. With our cross-border and customised financial solutions, foreign direct investment advisory services and a deep understanding of local markets, sector knowledge and partnership ecosystem, we help to reduce barriers of cross-border expansion, address supply chain risks and minimise financing costs for customers. Since the inception of the UOB Foreign Direct Investment Advisory unit in 2011, we have supported nearly 4,000 companies to successfully enter ASEAN markets. This success underscores the Bank’s commitment to doing right by our customers.”
Hong Kong’s connectivity with GBA and ASEAN In another key finding, most GBA businesses had a particularly high regard for Hong Kong’s strong connectivity with both the GBA and ASEAN bloc – more than 70% of respondents accorded the city a score of seven or more out of 10. Hong Kong’s expertise in service provision was seen as essential for sustained success in the ASEAN market and also its most admired asset. Hong Kong scored highly for its expertise in legal compliance, cross-border infrastructure finance and logistics. This was seen as an endorsement of the quality of services the city provides and an indication of the massive contribution Hong Kong is set to make as the GBA continues to prosper.
Commenting on the findings, Mr Louis Chan, Deputy Director of HKTDC Research, said: “This survey confirms both the bold and outward-looking nature of the GBA’s overall development strategy, while highlighting the essential role Hong Kong can play in ensuring this initiative reaches its full potential. It shows beyond doubt that synergy between the GBA members assures them of a better future than they could have achieved alone.”
Mrs Ip added: “In tandem with the promotion of free trade agreements, technology empowerment and higher business plans, the findings show we stand at the crossroads of burgeoning investment opportunities between Greater China and ASEAN. Hong Kong has a unique position as a super connector and value-adder, driving financial innovation, facilitating cross-border trade and nurturing economic prosperity to shape a future where business connectivity in this dynamic region knows no boundaries.”
Regional integration, digitalisation and cost management essential for ASEAN success Overall, 53.7% of GBA companies noted that geographic economic integration initiatives, particularly the Regional Comprehensive Economic Partnership (RCEP), were likely to boost their chances of success within ASEAN, followed by digitalisation (51.9%) and cost management, including moving production to lower-cost locations (40.8%).
Most respondents credited the effectiveness of RCEP at streamlining and accelerating trade between the region’s most dynamic economies – including Mainland China, Indonesia, Malaysia, Singapore, Thailand and Vietnam – as the main reason for its success.
Surveyed enterprises also believed digitalisation had been crucial for the maintenance of economic and supply chain resilience amid the unprecedented impact of the pandemic. They also viewed digitalisation as a key productivity driver, reducing operational costs and facilitating business and investment expansion in the region. In all, 23.2% of companies saw digitalisation as a priority for their business which was likely to boost their chances of successfully entering the ASEAN market.
The report in Chinese – Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area can be downloaded from the websites of HKTDC and UOB Hong Kong.
Christine Ip, CEO – Greater China, UOB (right) and Louis Chan, Deputy Director of HKTDC Research (left), release the Navigating Connectivity: Exploring ASEAN Opportunities for the Greater Bay Area research report
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
About UOB UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
For nearly nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within and connecting to ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to helping businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
Contents.com Secures $18 Million Series B Investment to Spearhead a New Era in AI-Driven Content Creation: Revolutionizing Enterprise Content Management with Advanced AI Orchestration, Seamlessly Integrating Multiple Large Language Models, and Pioneering Innovative, High-Quality Multilingual Content Solutions for Global Business Markets. The round is led by Sinergia Venture Fund of Alkemia Capital with Thomson Reuters Ventures. Additionally, the Azimut Digitech Fund, under the advisory of FNDX, participated in the round.
Contents.com today announces a new Series B funding round of $18 million, supported by major European and American venture capital funds.
This funding aims to consolidate its leadership position in the market for generating and orchestrating multilingual content for medium and large enterprises, thanks to its proprietary all-in-one technology platform based on artificial intelligence. AI is revolutionizing the way people acquire information and satisfy their thirst for knowledge.
Founded in 2021, Contents.com has rapidly expanded its international presence, now boasting clients in Europe, Latin America, North America, and Asia. Worldwide, medium and large enterprises use the Contents.com SaaS technology platform to manage integrated and coordinated workflows for producing multilanguage and multi-format digital content, including images and videos. The Contents.com platform offers an optimized user experience, integrated with major CMS, eCommerce, and DAM solutions in the enterprise sector. It simplifies the use of the most famous international LLMs (Large Language Models) to produce original content, thereby reducing time and costs while maintaining quality. This facilitates the work of the marketing, ecommerce, and media management departments of client companies.
Since its establishment in 2021, Contents.com has experienced remarkable growth, attracting thousands of customers globally, including several billion-dollar companies, and achieving double-digit year-over-year growth. The company’s mission is to integrate AI seamlessly into business operations. This funding will enhance their technological capabilities and expand their global team, reinforcing their leadership in the AI content creation industry.
Sinergia Venture Fund of Alkemia Capital is leading Contents.com’s operation, with participation from Thomson Reuters Ventures and others. The capital raised from this initiative is earmarked for significant expansion of Contents.com’s international business. This includes enhancing their technological capabilities and solutions, as well as a strategic increase in their corporate staff, with a particular emphasis on growing their Innovation Technology and Sales teams.
“In an era where innovation drives progress, Contents.com aims to assist global companies to stay ahead. On this extraordinary journey, our fundraising philosophy has remained the same: to seek not just funding, but collaborations that align with our values and innovative vision. Series B isn’t just a financial milestone, but a demonstration of our bold challenge to the conventions of the tech world. This funding will push us beyond traditional boundaries, revolutionizing high-quality, multilingual content creation globally. We’re committed to transforming global communication, connecting ideas and cultures through AI-based advanced solutions. Together with our partners, we’re redefining the global tech landscape, making an impact well beyond our corporate growth. We are here with Contents.com to influence global content creation,” declares Massimiliano Squillace, CEO & Founder of Contents.com.
“We are excited about our role as the lead investor in the recent capital increase of Contents.com. Our trust in Massimiliano, the founder, and his exceptional team is the foundation of this decision. We strongly believe in their vision and Contents.com’s innovative approach to the generative AI market. The generative AI market is in a phase of exponential growth, with forecasts indicating a global market value that could exceed $50 billion by 2026. This technology is opening new frontiers in various sectors, from digital marketing to industrial automation. Contents.com is perfectly positioned to capitalize on these opportunities and drive innovation in this rapidly evolving sector,” says Simone Cremonini, Partner of Sinergia Venture Fund of Alkemia Capital.
“The Contents.com team has built an application that enables the practical use of generative AI for enterprise content creation. We are excited to work with them to bring the application’s rich capabilities to our teams and to our customers so that in turn, they can create high quality multilingual content,” says Tamara Steffens, Managing Director of Thomson Reuters Ventures.
For this Series B transaction, Contents.com was represented by Orrick, Herrington & Sutcliffe LLP. An experienced team led by Partner Attilio Mazzilli and Of Counsel Livia Maria Pedroni provided strategic legal advice, underscoring Orrick’s commitment to supporting innovation and growth in the technology sector.
About Contents.com Contents.com is Series B company leader in AI content creation for enterprise, providing a robust AI platform that facilitates the generation of diverse content types including text, audio, video, and animations. The platform is equipped with advanced tools tailored to support a variety of content needs. Its innovative Brand Voice service stands out, allowing businesses to craft content that resonates with their unique brand identity through AI-driven customization. Designed for a wide range of users, from small bloggers to large corporations, Contents.com makes content creation more efficient, creative, and accessible in multiple languages, catering to a global audience.
![Ms. Elaine Law Soh Ying, Independent Non-Executive Director, KJTS Group Berhad; Dr. Teoh Pek Loo, Independent Non-Executive Director, KJTS Group Berhad; Ms. Azura Binti Azman, Independent Non-Executive Chairman, KJTS Group Berhad; Mr. Sheldon Wee, Executive Director, KJTS Group Berhad; Mr. Lee Kok Choon, Managing Director, KJTS Group Berhad; Ms. Lee Jim Leng, Group Managing Director and Chief Executive Officer, Hong Leong Investment Bank Berhad; Mr. Ng Kok Ken, Independent Non-Executive Director, KJTS Group Berhad [L-R]](https://photos.acnnewswire.com/20240126.KJTS.jpg)
