Category: Finance

New England Investment & Retirement Group to Join Focus Partner Firm Connectus Wealth Advisers, Continuing Connectus’ Strong Momentum in the United States

Focus Financial Partners Inc. (NASDAQ:FOCS) (Focus), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which New England Investment & Retirement Group, Inc. (NEIRG), a registered investment adviser headquartered in North Andover, MA, will join Connectus Wealth Advisers (Connectus). The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions.

Founded in 1995, NEIRG provides holistic wealth management services to high-net-worth individuals and families, trusts, estates, endowments and retirement plans. Through sophisticated financial planning and a differentiated investment management approach, including access to proprietary alternative investment solutions, NEIRG provides its clients with highly personalized services to help them attain their objectives.

“Joining Connectus will position us to achieve the next phase of our firm’s evolution and growth while maintaining our boutique service approach and culture. Connectus will equip us with a very attractive suite of tools and resources, which will further enhance our ability to meet each of our client’s unique needs,” said Nick Giacoumakis, NEIRG’s President and Founder. “Leveraging these capabilities to both expand our business and deepen our relationships with clients will make this an ideal partnership.”

“The NEIRG team is a highly experienced group and an impressive new member of the Connectus family,” said Rajini Kodialam, Co-Founder and Chief Operating Officer of Focus. “This transaction is evidence of Connectus’ continued strong momentum in the United States. Connectus’ ability to empower advisers, through access to deep resources and state-of-the-art client service capabilities, provides a unique balance of scale and expertise with a vital emphasis on the client relationship. We are confident that NEIRG will benefit from all that Connectus has to offer to drive its continued growth.”

About Focus Financial Partners Inc.
Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.

About Connectus Wealth Advisers
Connectus is a global consortium of client-centric advisers that deliver comprehensive wealth management advice through access to expanded services, shared resources and best practices. Connectus exemplifies the spirit of partnership and collaboration yet celebrates the entrepreneurial mind-set of its advisers. Connectus is designed for founders and teams who want to continue to manage their client relationships and maintain their boutique cultures, while gaining the operational efficiencies of shared infrastructure and access to expanded client service capabilities.

Through Focus, Connectus advisers gain a strategic growth partner with specialized expertise. They benefit from Focus’ scale and extensive network, continuity planning, insights and best practices. Focus is also a source of permanent capital to accelerate growth and enhance business and client outcomes. For more information, please visit www.connectuswealth.com.

Cautionary Note Concerning Forward-Looking Statements
This release contains certain forward-looking statements that reflect Focus’ current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus’ operations and business environment, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus’ filings with the Securities and Exchange Commission.

Investor and Media Contacts
Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
tmadon@focuspartners.com

Charlie Arestia
Vice President
Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-560-3999
carestia@focuspartners.com

SOURCE: Focus Financial Partners Inc.

New treatment for severe corneal inflammation from DED now listed on PBS

  • Ikervis(R) (ciclosporin), a new, once-daily treatment for severe keratitis (keh-ruh-tai-tis) in adults with dry eye disease (DED) which has not improved with the use of artificial tears,(1) has been listed on the Pharmaceutical Benefits Scheme (PBS) today (1 October 2021).(2)
  •  Increasing screen use and mask associated dry eye disease (MADE) during the COVID-19 pandemic(3,4) is exacerbating cases of DED – one of the most common eye diseases.(5)
  • Untreated or inadequate response to first-line management options for DED can lead to severe keratitis -inflammation of the cornea (clear front surface of the eye) – causing damage to the eye surface, and potentially, compromising vision.(6,7)
  • The PBS listing will offer those affected by severe keratitis from DED, another treatment option to manage their potentially debilitating and lifestyle-compromising disease.(8,9)

Today, adults living with severe corneal inflammation from DED (dry eye disease) gain access to a new treatment on the PBS. Ikervis(R), Australia’s first PBS listed disease-modifying ciclosporin eye drop treatment for severe keratitis in adults with DED, is now available (1 October 2021).

In-licensed for the first time in Australia by Seqirus, a wholly-owned subsidiary of CSL, from leading ophthalmic company Santen Pharmaceutical Co Ltd, Ikervis contains the disease-modifying treatment ciclosporin, used to reduce inflammation associated with severe keratitis in DED.

According to Professor Stephanie Watson, Ophthalmologist, Clinician Scientist, Ophthalmic Surgeon and Chair of the Ophthalmic Research Institute of Australia, the COVID-19 pandemic is exacerbating DED cases due to increased mask use and screen time.

“We have seen a marked increase in dry eye symptoms among mask users. Typically, DED affects women more than men. According to a US study, women are almost three times more likely to develop DED than men and often progress to more severe forms of the disease earlier than men,” said Prof. Watson.

“Keratitis, a condition involving inflammation of the cornea, can be a complication for some patients with DED. Patients with severe keratitis from DED typically present with eye surface damage and inflammation that can sometimes feel like an irritating, itchy or burning sensation with possible blurry vision.

“Patients with severe inflammation of the cornea from DED are often managed with a number of different treatment options, which can be costly for a condition that requires ongoing management. A new subsidised treatment option will improve access for these patients,” Prof. Watson said.

“Severe inflammation of the cornea from DED is complicated by a difficult cycle involving inflammation of the eye and damage to the eye surface. Treatment options targeting the immune system are therefore needed to manage these complications from DED, and break the cycle of inflammation,” said Dr Margaret Lam, Optometrist, Head of Professional Services at George and Matilda Eyecare and Adjunct Senior Lecturer at the School of Optometry & Vision Science, UNSW.

“Artificial tears aim to provide symptom relief for DED, but don’t address the underlying cause of severe corneal inflammation. In these cases, inflammation-reducing treatment options are required. Today’s PBS listing of another treatment option for severe keratitis in adults with DED is therefore welcome news for ophthalmologists, optometrists and patients alike,” Dr Lam said.

Executive Chair of The B Team Australasia, Lynette has spent the past 16 years living with severe corneal inflammation from DED. Soon after undergoing cataract surgery on both of her eyes in 2005, her eyes became extremely irritated, and she developed double vision. Little did she know at the time, her cataract surgery, coupled with a delayed diagnosis and her advancing age, would result in developing severe corneal inflammation from DED.

“I’m often unable to see things. For instance, I have to carry a magnifying glass when my eyes get blurry, or I develop double vision. Even at the supermarket, I have to carry a magnifying glass to read the food,” said Lynette. “When people ask me to look at something for them at work, whether it is a document, or on-screen, depending on the health of my eyes at the time, I find it really difficult.”

Lynette maintains it is important for Australian adults living with severe corneal inflammation from DED to have timely access to a range of treatment options. “Had my eye disease been detected earlier, it may not have had such an impact on my life,” Lynette said.

Seqirus Head of Medical Affairs for the International Region, Dr Jonathan Anderson, Melbourne, said Seqirus is excited to be introducing the company’s second PBS listed treatment option to the eye care market this year.

“Seqirus is committed to broadening access to eye care products to help address unmet clinical needs,” said
Dr Anderson. “Today’s PBS listing of Ikervis for severe keratitis in adults with DED will give Australians access to another treatment option that has long been available overseas.”

About Ikervis
TGA approved in December 2020, Ikervis is a Schedule 4 (S4): Prescription Only Medicine. Ikervis is listed on the PBS from 1 October 2021 for severe keratitis in DED, for prescription by an optometrist or ophthalmologist and requires Authority Approval.

About Seqirus
Seqirus, a CSL company, is a leading provider of essential vaccines and pharmaceuticals. Having served Australia’s healthcare needs for over a century, today we operate Australia’s only local manufacturing facility for seasonal and pandemic influenza vaccines. Seqirus produces unique medicines in the National Interest, and also in licences a broad range of paediatric and adult vaccines and specialty pharmaceutical products. Visit www.seqirus.com.

Mel Kheradi, VIVA! Communications, m: 0421 551 257, e: melorin@vivacommunications.com.au

References:
1. Ikervis Approved Product Information.
2. The Pharmaceutical Benefits Scheme (PBS). Medicine Status – Ciclosporin. 2021 September 2021]; Available from: https://www.pbs.gov.au/medicinestatus/document/498.html.
3. Krolo, I., et al., Mask-Associated Dry Eye During COVID-19 Pandemic-How Face Masks Contribute to Dry Eye Disease Symptoms. Med Arch, 2021. 75(2): p. 144-148.
4. Barabino, S., A Narrative Review of Current Understanding and Classification of Dry Eye Disease with New Insights on the Impact of Dry Eye during the COVID-19 Pandemic. Ophthalmol Ther, 2021. 10(3): p. 495-507.
5. Amrane, M., et al., Ocular tolerability and efficacy of a cationic emulsion in patients with mild to moderate dry eye disease – a randomised comparative study. J Fr Ophtalmol, 2014. 37(8): p. 589-98.
6. Leonardi, A., B. Flamion, and C. Baudouin, Keratitis in Dry Eye Disease and Topical Ciclosporin A. Ocular Immunology and Inflammation, 2017. 25(4): p. 577-586.
7. Baudouin, C., et al., A randomized study of the efficacy and safety of 0.1% cyclosporine A cationic emulsion in treatment of moderate to severe dry eye. Eur J Ophthalmol, 2017. 27(5): p. 520-530.
8. Stapleton, F., et al., TFOS DEWS II Epidemiology Report. The Ocular Surface, 2017. 15(3): p. 334-365.

Yeahka Ranks First among Non-bank Independent Institutions in QR Code Payment Acquiring Services

Yeahka Limited (Yeahka or the Company) (Stock Code: 9923), a leading payment-based technology platform in China, has surpassed others to become one of the most-used aggregate payment service providers by merchants in China.

Yeahka’s interim results show, as of the first half of this year, the total number of active merchants using the Company’s payment services has reached 6.13 million, up 30.8% year-on-year (“YoY”). Its daily peak count of QR code payment transactions has reached 42 million, compared to 30 million at the end of last year, leading to a rapid increase in its market share in the non-bank independent QR code payment services market. According to Oliver Wyman, Yeahka ranked second with a market share of 14% in China, according to the number of transactions in 2019.

Based on analysis of the latest open data of other key players, Yeahka has surpassed its competitors to become the largest non-bank independent QR code payment services provider by market share in China.

According to iResearch Consulting’s 2021 China’s Third-Party Payment Industry Report, published this June, the number of merchants covered by integrated payment services has reached 30.48 million, up 19.2% YoY, as of the first half of 2021. Serving 6.13 million merchants, Yeahka has a market share of approximately 20%.

Number of payment transactions through QR code is displayed real-time on Yeahka’s official website (www.yeahka.com).

A payment method that integrates multiple relatively fragmented payments through the use of an integrated QR code, aggregate payment brings more convenience to both merchants and consumers. For a services provider, in addition to providing omni-channel payment services, leveraging its technical capabilities to provide value-added services is a crucial next step.

This is also the key to Yeahka’s business – the steady and rapid growth of the payment business also propels another important segment for the Company, namely technology-enabled business services. According to Yeahka’s interim report, the revenue of this segment increased 86.6% YoY to RMB360 million, and its contribution to the Company’s gross profit increased to 43.5% from 34.9% in the same period of 2020, significantly higher than other players in the same field.

Utilized HK$119.8 million in share incentive scheme

Yeahka announced on 23 September that, as of 21 September 2021, the trustee of the Restricted Share Unit (“RSU”) Scheme had utilized an aggregate of approximately HK$119.8 million to purchase 4,104,400 Shares from the market at a consideration of HK$26.30 to HK$30.00 per share to hold in trust for the benefit of the RSU participants pursuant to the rules of the RSU Scheme.

According to the announcement, the shares purchased will be rewards for the RSU participants in the RSU Scheme, as an incentive for their contribution to the Company. In addition, the share purchase pursuant to the RSU Scheme also demonstrates the Company’s confidence in its business outlook and prospect. The Company will continue to conduct share purchases in the market based on market conditions.

InvestHK: HKSAR Government’s “Report on Hong Kong’s Business Environment” highlights Hong Kong’s unique advantages and unlimited opportunities

Invest Hong Kong (InvestHK) announced today (September 29) a series of promotions building upon the “Report on Hong Kong’s Business Environment: A Place with Unique Advantages and Unlimited Opportunities” (www.hkeconomy.gov.hk/en/environment/index.htm) published this week by the Government of the Hong Kong Special Administrative Region (HKSAR).

Mr Stephen Phillips

The Director-General of Investment Promotion of the HKSAR, Mr Stephen Phillips, said that the report, announced by the Financial Secretary, Mr Paul Chan, on September 27, sets out very clearly the exciting opportunities for businesses from around the world in Hong Kong and at the same time sets the record straight about international investors’ misconceptions of Hong Kong as a result of persistent biased media reports in some quarters.

“The report not only outlines clearly the robust strengths of Hong Kong as an international financial, aviation, innovation and technology, legal and cultural hub, but also highlights the many attractive opportunities the city has to offer multinationals and entrepreneurs who want a reliable, efficient business base in Asia,” Mr Phillips said.

“It is very important for us to tell the real Hong Kong story to the international business community that under the Central Government’s support and the ‘one country, two systems’ principle, Hong Kong and businesses in Hong Kong have a bright future with fantastic opportunities.”

Mr Phillips added, “Our pipeline remains strong with many multinationals, small and medium-sized companies and start-ups still planning to come to our city to develop their businesses and scale into Mainland China and wider Asia. Going forward, with the continued support of the Central Government, we see very bright prospects for Hong Kong’s economy.”

InvestHK is organising a series of global webinars to be held on October 7 for business communities around the world to provide an update on Hong Kong’s latest business environment and key announcements relevant to business in next week’s Policy Address.

A short video summarising the report can be found at https://youtu.be/zhSxxEo32l4.

CEKD Berhad Debuts on ACE Market at 12 sen premium, 25% above IPO price

CEKD BERHAD (CEKD; KLSE stock code: 0238), a die-cutting solutions provider as well as manufacturer of die-cutting moulds and trader of related consumables, tools and accessories successfully listed on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities) today.

Gary Ting, Head of Corporate Finance, M&A Securities Sdn Bhd; Chong Chin Look, Independent Non-Executive Director, CEKD; Datuk Mak Foo Wei, Independent Non-Executive Director, CEKD; Dato’ Zulkifli Bin Adnan, Independent Non-Executive Chairman, CEKD; Yap Kai Ning, Managing Director, CEKD; Yap Kai Min, Chief Operation Officer, CEKD; Yap Tian Tion, Deputy Executive Chairman, CEKD; Datuk Bill Tan, Managing Director of Corporate Finance, M&A Securities Sdn Bhd [L-R]

CEKD opened at 60 sen, which is a 12 sen premium or 25% higher than its initial public offering (IPO) price of 48 sen per share, with the first traded volume recorded at 6,286,100 shares.

“We are extremely pleased with today’s listing debut on the ACE Market and are humbled by the reception to our IPO from the investing public. We are a leading provider of die-cutting mould solutions in Malaysia, and we believe this IPO will give the Group more visibility and aid in the expansion of the business. This will help us to not only retain our customers in Malaysia but help capitalise on other markets such as Southeast Asia and the Middle East,” Independent Non-Executive Chairman of CEKD Berhad, Dato’ Zulkifli bin Adnan said.

“As the only die-cutting mould specialist in Southeast Asia to be certified by Bobst Mex SA, a leading global supplier of machinery and services to the packaging industry from Switzerland, we have plans in the pipeline post-listing to expand our operations and manufacturing services in our existing markets as well as solidify our position in Southeast Asia and the Middle East. We believe that there are plenty of opportunities that we can tap into in these markets due to the growth in the E&E, plastic and packaging, automotive as well as textile and leather industries.”

While CEKD distributes to markets in Australia, Vietnam, Thailand, Philippines and the Middle East, Malaysia makes up 85.0% of the overall revenue in the financial period ended 31 March 2021. The Group’s customers are mainly from the printing and packaging, electrical and electronics, automotive, plastic packaging, textile, and leather industries.

Today’s listing follows from the Balloting Ceremony on 21 September 2021 where CEKD recorded an oversubscription rate of 131.61 from the new shares made available to the Malaysian public.

M&A Securities Holdings Berhad is the Adviser, Sponsor, Sole Underwriter and Placement Agent for the IPO exercise.

Please contact the below for more information:
Hakim Juraimi
Email: h.juraimi@swanconsultancy.biz

InvestHK: Government’s “Report on Hong Kong’s Business Environment” highlights Hong Kong’s unique advantages and unlimited opportunities

Invest Hong Kong (InvestHK) announced today (September 29) a series of promotions building upon the “Report on Hong Kong’s Business Environment: A Place with Unique Advantages and Unlimited Opportunities” (www.hkeconomy.gov.hk/en/environment/index.htm) published this week by the Government of the Hong Kong Special Administrative Region.

Mr Stephen Phillips

The Director-General of Investment Promotion, Mr Stephen Phillips, said that the report, announced by the Financial Secretary, Mr Paul Chan, on September 27, sets out very clearly the exciting opportunities for businesses from around the world in Hong Kong and at the same time sets the record straight about international investors’ misconceptions of Hong Kong as a result of persistent biased media reports in some quarters.

“The report not only outlines clearly the robust strengths of Hong Kong as an international financial, aviation, innovation and technology, legal and cultural hub, but also highlights the many attractive opportunities the city has to offer multinationals and entrepreneurs who want a reliable, efficient business base in Asia,” Mr Phillips said.

“It is very important for us to tell the real Hong Kong story to the international business community that under the Central Government’s support and the ‘one country, two systems’ principle, Hong Kong and businesses in Hong Kong have a bright future with fantastic opportunities.”

Mr Phillips added, “Our pipeline remains strong with many multinationals, small and medium-sized companies and start-ups still planning to come to our city to develop their businesses and scale into Mainland China and wider Asia. Going forward, with the continued support of the Central Government, we see very bright prospects for Hong Kong’s economy.”

InvestHK is organising a series of global webinars to be held on October 7 for business communities around the world to provide an update on Hong Kong’s latest business environment and key announcements relevant to business in next week’s Policy Address.

A short video summarising the report can be found at https://youtu.be/zhSxxEo32l4.

Global New Material, leading the new materials industry, answers in its interim report after 19-day price rally

On July 20, 2021, Global New Material International Holdings Limited (Global New Material) (6616.HK), having developed pearlescent materials and synthetic mica as new materials in the consumer sector, ushered in strong momentum with its stock price soaring to an intraday increase of 14.68% on the third trading day following its entry into the capital market.

On July 21, August 3, August 4 and August 11, Global New Material’s stock price recorded an intraday increase of 11.47%, 8.75%, 25.87 and 9.66% respectively. Over 19 trading days ended August 13, Global New Material saw its stock price rising by 104.89% and its market value exceeding HKD8 billion.

The earnings report released by the Company on August 30 shows that in the first half 2021, Global New Material recorded total revenue of RMB307 million, representing an increase of 25.3% as compared with that in the first half of 2020, a gross margin of 52.7% from 48.6% in the first half of 2020, a total gross profit of RMB162 million, representing an increase of 36.0% as compared with that in the first half of 2020, and a total profit attributable to the parent company of RMB94.10 million, representing a significant increase of 54.3%.

For now it appears that the capital market values the growth potential of Global New Material in the field of pearlescent materials. In the future, with the continued endogenous growth of the industry and the Company’s industry-leading role, Global New Material’s stock price momentum at the moment could be only the beginning.

Strong growth in multiple businesses drove revenue

Global New Material is specialized in pearlescent pigment products, coatings, mica and other related products. When measuring revenue in 2020, Global New Material is the world’s largest producer of synthetic mica-based pearlescent pigments, the world’s fourth-largest producer of pearlescent pigments, and the producer of pearlescent pigments with the highest market share in China.

In the first half of 2021, natural mica-based pearlescent pigment products, synthetic mica-based pearlescent pigment products and glass flake-based pearlescent pigment products, which accounted for the largest part of Global New Material’s total revenue, had their revenues increasing by 20.7%, 31.2% and 46.3% respectively and contributed to 25.3%, equivalent to RMB307 million, in the increase in Global New Material’s total revenue.

Impressive increase in gross margin and expense ratio further drove up net profit rate

Synthetic mica-based, glass flake-based and silica-based products are more profitable than natural mica-based products. In the first half of 2021, the revenue of these three types of products accounted for 44.4% of Global New Material’s total revenue, representing an increase from 41.9% in the first half of 2020, which led to a remarkable rise in Global New Material’s gross margin to 52.7% from 48.6% in the first half of 2020.

With the growth in both revenue and gross margin, Global New Material had its final net profit increasing significantly by 56.5% to RMB98.181 million, and its net margin increasing by 6.4 percentage points to 32%.

Great market potential and capacity expansion support future growth

Pearlescent pigments are advantageous over traditional pigments in terms of fading resistance, nontoxicity, safety and environmental friendliness, and therefore are rapidly replacing traditional pigments.

Compared with natural mica-based pigments, synthetic mica-based pearlescent pigments perform much better in terms of glossiness, transparency and high-temperature resistance, and generally do not contain heavy metals. Therefore, synthetic mica-based pearlescent pigments are more suitable for the fast-growing high-end markets such as automobiles and cosmetics.

According to a Frost-Sullivan report, the global market size of synthetic mica products is expected to exceed that of natural mica products in 2022; the market size of synthetic mica products and natural mica products will reach RMB15.4 billion and RMB9.7 billion respectively by 2025; the market size of synthetic mica-based products in China is expected to expand by 39.7% in the next five years and reach RMB7.6 billion by 2025.

In 2020, Global New Material came close to full capacity, with pearlescent pigments and synthetic mica products reaching nearly 14,000 tons and 10,000 tons respectively. Global New Material’s phase-2 plants are under construction, and once put into production, are expected to realize a capacity of 30,000 tons of pearlescent pigments and 30,000 tons of synthetic mica products. Forecast by Global New Material, a capacity of 6,000 tons of pearlescent pigments will be realized in the fourth quarter of this year, and a capacity of 6,000 tons of synthetic mica products will be realized in the second quarter of next year, which will lead to a further growth of Global New Material’s performance.

Media contact:
Haolu Wang, Peanutmedia
E: wanghaolu@czgmcn.com
T: +86 18345 162685
W: www.Peanutmedia.com

GCash Introduces First of Its Kind, Online Shopping Protection with Regional Insurtech Firm, Igloo

  • The first of its kind Online Shopping Insurance protection by GCash, in partnership with Igloo, aims to offer peace of mind for 46 million GCash users when they transact using GCash
  • Approximately 44% of digital consumers have been a target of a fraud scheme in Q1 2021

Philippines’ leading e-wallet provider GCash, has launched an online shopping insurance – underwritten by PGA Sompo – with Singapore-headquartered regional insurtech Igloo, to protect its growing online customer base. This launch and partnership come at a time where GCash has seen a surge in online transactions and is on track to hit PHP 3 trillion in full-year gross transactions – 3x of last year’s performance. This was driven by Filipino consumers shifting to online for their daily needs.

Igloo’s online shopping protection via GCash’s platform

Today, there is an increasing demand to go cashless and more merchants and retailers are opting for the convenience of e-commerce, and express peer-to-peer cash transfers.

Over 70% of Southeast Asia is online and last year, the region saw 40 million new users join the internet. In a recent survey, the Philippines alone saw 37% of all digital service consumers are new to the service due to COVID-19. The survey also shows 97% of these new digital consumers will continue to use digital services going forward. This has led to an increasing need to be able to secure each transaction. Through this partnership with Igloo, GCash aims to provide peace of mind to its 46 million users while they shop online. The GCash app also had over 13 million log-ins per day, peaking at almost 15 million in the second quarter of 2021. This year, GCash aims to reach its PHP 3 trillion Gross Transaction Value (GTV) target and currently processes an average of PHP 300 billion in monthly transactions.

“This comes at an unprecedented time when we see robust growth in our online transactions and user base. With excellent customer experience being the heart of our business alongside value-added services through our platform, we are thrilled to launch this new product with Igloo that secures online transactions for our customers,” said Martha Sazon, GCash President and CEO.

“We are excited to partner with the leading e-wallet in the country, GCash – who shares the same vision of protecting digital consumers by pioneering innovative solutions to end-customers at an economical price. With the growing number of digital consumers in the country, now more than ever, is it most important to provide flexible solutions for the changing needs and processes of both businesses and customers. In a recent survey, 44% of the respondents had been a target of a fraud scheme. The majority of them, or 44% and 39% are experienced by Gen Z and Millennials, respectively. With many GCash customers belonging to this bracket, Igloo’s protection is not only timely but very relevant to GCash customers’ needs,” said Mario Berta, Igloo Philippines Country Manager.

The Online Shopping protection is one of the first products Igloo will be launching with GCash and its customers but will soon be rolling out more products with the e-wallet platform in the next six months that will be geared towards MSMEs which are about 90% of the businesses in the Philippines, securing the entire ecosystem of both seller-business owner-and-buyer.

Igloo’s Online Shopping product is part of its Cyber Protection vertical, which secures financial loss arising directly from any online marketplace fraud. With its pioneering partner, GCash – GCash users will now be protected from any transaction they make via online marketplaces such as Lazada, Shopee, including Viber and Facebook marketplaces as long as their payment was fulfilled via the GCash platform.

Since its entry into the Philippines with its collaboration with Southeast Asia’s largest and fastest-growing hotel management and booking platform, RedDoorz in 2019, Igloo has also partnered with the Union Bank of the Philippines in August last year and Philinsure early 2021. The insurtech has also widened its insurance partner base to include Mercantile, Pioneer, PGA-Sompo Insurance Corporation, and United Coconut Planters Life Assurance Corporation.

Images in high resolution are available for download here.

About Igloo
Igloo, previously known as “Axinan”, is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia, Thailand, the Philippines, and Vietnam, and tech centres are located in China. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimize and enhance existing products and services. In April 2020, Igloo successfully closed its Series A+ funding round worth US$8.2 million, bringing its total funding to US$16 million from global investors.

Igloo is led by a core team that comprises top talent from the technology and insurance industries hailing from global corporations including Facebook, Grab, Flipkart, Garena, Manulife, Shopee, Yahoo! and Zalora. For more information, please visit https://www.iglooinsure.com/

Media Queries
PRecious Communications for Igloo
igloo@preciouscomms.com

CEKD IPO shares oversubscribed by 131.61 times

  • Overwhelming response indicates positive sentiment for economic recovery in 2022
  • Leading manufacturer of die-cutting moulds and trader of related consumables, tools and accessories slated to list on the ACE Market of Bursa Securities by end-September

The shares of CEKD BERHAD (CEKD or the Group) has been oversubscribed by 131.61 times ahead of the Group’s listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).

Managing Director of CEKD, Ms. Yap Kai Ning

“We are extremely grateful for the strong confidence our investors have in CEKD, our business, prospects and future plans. Our hard work to build a sustainable business has paid off,” said Managing Director of CEKD, Ms. Yap Kai Ning.

CEKD is raising RM24.28 million from the IPO exercise. From the proceeds, the Group will use RM8.8 million for the acquisition of a factory for Hotstar, RM3.0 million for purchase of new machinery, RM1.3 million for upgrade and development of computer software and server, RM4 million for repayment of bank borrowings, with the remainder to be used for marketing activities, general working capital and listing expenses.

“This is just the beginning of our corporate journey. The expansion plan will give a push to the growth of the Group’s business,” Ms. Yap explained. “This is also part of the strategy to increase automation and capacity to meet the demand of our new and existing clients.”

For this IPO, a total of 18,884 applications for 1,290,183,500 new Shares with a value of RM619,288,080.00 were received from the Malaysian public, which represents an overall oversubscription rate of 131.61 times.

For the Bumiputera portion, a total of 10,413 applications for 593,591,600 new Shares were received, which represents an oversubscription rate of 121.03 times. For the public portion, a total of 8,471 applications for 695,591,900 new Shares were received, which represents an oversubscription rate of 142.20 times.

Meanwhile, a total of 9,729,000 new Shares available for application by the eligible directors and employees and persons who have contributed to the success of the Group have also been fully subscribed.

In addition, the Placement Agent has confirmed that the 31,132,000 Shares made available for application by way of private placement have been fully placed out.

The notices of allotment will be posted to all successful applicants on or before 28 September 2021.

M&A Securities Sdn Bhd is the Adviser, Sponsor, Underwriter and Placement Agent for this IPO exercise.

CEKD’s listing on the ACE Market of Bursa Securities is scheduled on 29 September 2021.

About CEKD Berhad
CEKD Berhad (“CEKD” or the “Group”) is an investment holding company with three wholly owned subsidiaries, namely Sharp Die Cutting Mould Sdn Bhd at Jalan Kelang Lama, Kuala Lumpur; Hotstar (M) Sdn Bhd at Kepong, Kuala Lumpur and Focuswin Diecutting Mould Sdn Bhd at Prai, Penang.

The Group is a die-cutting solutions provider and is involved in the manufacturing of die-cutting moulds and trading of related consumables, tools, and accessories, mainly to the paper printing and packaging industry, electronic and electrical industry, and other industries such as automotive, plastic packaging, textile and leather industries.

CEKD’s die-cutting moulds and tools are used to die-cut paper boxes and cartons, plastic packaging boxes, electrical components such as laptops, hard disks, audio speakers, remote controllers, automotive parts such as engine gaskets, emblem, fabric and leather for furniture, car seats, steering wheels, clothing and shoes. For more information, visit www.cekd.com.my.

Issued by: Swan Consultancy on behalf of CEKD Berhad
Date: 21 September 2021

Please contact the below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

Kahjin Gan
Tel: +60 16-555 5187
Email: kj.gan@swanconsultancy.biz

Bluebik (SET: BBIK) debuts September 16 trading on SET

  •  To strengthen personnel, advance technology, and improve software
  • Leveraging strengths to enable digital transformation business expansion

Bluebik Group Pcl (SET: BBIK) debuted September 16 on the Stock Exchange of Thailand (SET) MAI (Market for Alternative Investments), highlighting its strength as the first digitalization consultancy stock to be listed and its intention to expand the business in every dimension – to strengthen personnel, advance technology and improve software – to empower organizations and to reinforce its outstanding performance.

Mr. Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group (SET: BBIK), speaking on First Trading Day | Sept 16 (MAI/SET).

Mr Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Pcl (BBIK), said that the Company was offering its shares on the SET’s MAI under the symbol “BBIK” after offering 25 million shares for subscription in the initial public offering (IPO), enthusiastically received beyond expectation. This fund-raising will help to promote financial strength to support business expansion in many dimensions and generate even stronger growth.

The plan to expand the business will be carried out in six dimensions, namely:
1. To enlarge personnel and enhance technological skills as well as establish the Learning Academy Center;
2. To provide Software-as-a-Service (SaaS) over the Internet and establish a Research and Development Center;
3. To enhance internal management through upgrading the software system to support organizational growth;
4. To expand office space to accommodate the additional personnel;
5. To invest in other related and high-potential businesses to build growth and to cope with market volatility; and
6. To enhance working capital potential.

The Company aims to be a leading integrated digital transformation consulting organization. It brings together the strengths of experience and expertise of executives and personnel who have worked with the world’s leading consulting firms, providing innovation and technology consulting services that meet the demand of customers who want to upgrade their organizations to keep pace with the changes in the digital era, unlock growth potential and build business advantage. This covers strategic planning and management (Management Consulting) to identify success factors that will create growth; Strategic Project Management Office (PMO); Digital Excellence and Delivery; Big Data & Advanced Analytics consulting; and offering IT Staff for customers to complete their projects.

As for BBIK’s 2018-2020 performance, revenue from sales and services were THB 132.76 million, 184.94 million and 200.53 million, respectively. The compound annual growth rate (CAGR) was 22.90%, and the net profits were THB 19.22 million, 31.71 million and 44.29 million, with the CAGR of 51.8% for the first six months of this year. Revenue from sales and services was THB 126.92 million, an increase of 39.47% from the same period of the previous year, and a net profit of THB 30.06 million, representing a net profit margin of 23.67%.

From the end of 2021, the Company will recognize revenue from Orbit Digital Co Ltd (ORBIT), a joint venture between PTT Oil and Retail Business Plc. (OR), with a 40% share held through a subsidiary, and the Company, with a 60% share, to leverage the digital innovation and potential to create the optimum experience for customers, as well as to enhance the organization’s technological and innovative capabilities to add value and create new business opportunities and to become the digital leader in the retail industry.

Mr. Payupat Mahabhol, Managing Director for Investment Banking, Yuanta Securities (Thailand) Co Ltd, as financial advisor and lead underwriter, said Bluebik Group Plc. is an IPO with outstanding potential. The Company offers a wide range of services covering strategy, and technological and digital management, thus can meet the needs of corporate customers who want to engage in digital transformation in order to increase competitiveness and unlock the growth potential. In the past, the Company has gained the trust of many leading companies in various industries to avail of the services and have attained rapid growth performances. This also includes the opportunity to expand the customer base into the future, in line with the digital transformation occurring around the world.

Mr. Pongsak Phrukpaisal, Managing Director of Kasikorn Securities Pcl, joint lead underwriter, said that Bluebik Group Plc. is considered to be a leading company in the digital transformation consultancy business in Thailand which will benefit from the new era of digital-driven businesses. The strength of the Company is that it has an experienced management team with expertise in consultancy and strategic planning while possessing modern digital technology to provide services to customers and the ability to compete with foreign consultancy companies. The operating results have shown outstanding growth in both revenue and profit reinforcing the strong business potential. In addition, the partnership with OR through a joint venture company will support Company growth.

Released by Public Relations Dept., MT Multimedia Co., Ltd. for Bluebik Group Plc.
For additional information, please contact: Thiyaporn (Dah) Sriadunphan.
Tel: +66 87 556 6974, Email: thiyaporn.s@mtmultimedia.com