Moody’s announces completion of a periodic review of ratings of First Bank of Nigeria Limited

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Moody’s Investors Service (“Moody’s”) has completed a periodic review of the ratings of First Bank of Nigeria Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody’s reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody’s practice has been to issue a  press release following each periodic review to announce its completion.

This publication does not announce a credit rating action and is not an indication of whether or not a  credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the rating tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and the rating history.

Key rating considerations are summarized below.

First Bank of Nigeria Limited’s (First Bank) B2 long-term local currency deposit rating is one notch above its b3 baseline credit assessment (BCA).

First Bank‘s BCA reflects its improving asset quality, satisfactory capital buffers and resilient profitability that is supported by its strong capacity to generate good levels of pre-provision income. The ratings also reflect the bank’s stable deposit-based funding profile, the high stock of liquidity assets and resilient foreign currency liquidity buffers. These strengths are moderated by Nigeria’s challenging operating environment that is worsened by depressed oil prices and ongoing coronavirus pandemic.

Our view of the creditworthiness of First Bank is based on FBN Holdings Plc’s (FBNH) public financial statements.

This document summarizes Moody’s view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.

The principal methodology used for this review was the Banks Methodology published in November 2019.  Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.

This announcement applies only to EU rated and EU endorsed ratings. Non-EU rated and non-EU endorsed ratings may be referenced above to the extent necessary if they are part of the same analytical unit.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the rating tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and the rating history.

Moody’s announces completion of a periodic review of ratings of Guaranty Trust Bank Plc

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Moody’s Investors Service (“Moody’s”) has completed a periodic review of the ratings of Guaranty Trust Bank Plc and other ratings that are associated with the same analytical unit.

The review was conducted through a portfolio review in which Moody’s reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

The review did not involve a rating committee. Since 1 January 2019, Moody’s practice has been to issue a press release following each periodic review to announce its completion.

This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement.

For any credit ratings referenced in this publication, please see the rating tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and the rating history.

Key rating considerations are summarized below.

Guaranty Trust Bank Plc’s (Guaranty Trust) B2 long-term local currency deposit rating is in line with the bank’s b2 baseline credit assessment (BCA).

Guaranty Trust’s b2 BCA reflects its strong capitalization and solid profitability which provide significant buffers to absorb expected asset quality deterioration. The ratings also reflect the bank’s good liquidity cushion and its deposit funded balance sheet. These strengths are balanced against Nigeria’s difficult operating environment that is exacerbated by depressed oil prices and the ongoing coronavirus pandemic.

This document summarizes Moody’s view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.

The principal methodology used for this review was the Banks Methodology published in November 2019. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.

This announcement applies only to EU rated and EU endorsed ratings. Non-EU rated and non-EU endorsed ratings may be referenced above to the extent necessary if they are part of the same analytical unit.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the rating tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and the rating history.

Lagos Trains 450 Entrepreneurs in Coconut ‘Waste to Wealth’ Initiative (Photos)

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Lagos State Government, on Monday, began the training of no fewer than 450 young entrepreneurs in a five-week intensive training on the use of coconut waste in arts and crafts under its waste to wealth initiative.

A statement issued by the Office of the State Acting Commissioner for Agriculture, Ms. Abisola Olusanya, explained that the waste to wealth initiative was in line with the State Government’s developmental T.H.E.M.E.S. Agenda of Making Lagos a 21st Century Economy as well as contributing to the tourism potentials of the State.

Olusanya stated that the objectives of achieving the goals of sustainable development and waste management were the outstanding global challenges, stressing that finding innovative solutions for effective management of waste remained difficult as the breakdown of waste required special processes that involve time, energy and expense.

According to her, coconuts have the potential to produce electricity, heat, fiberboards, organic fertilizer, animal feeds, fuel additives for cleaner emissions, eco-friendly cutlery, health drinks, and many more.

The Acting Commissioner averred that most people saw coconut shells as waste and as such disposed of them carelessly while others in the rural areas used them as firewood, adding that the shells can, however, be recycled into artistic products such as jewellery, cutlery, indoor and outdoor decorative items and many more.

In her words: “The Lagos State Government, through Lagos State Coconut Development Authority, LASCODA, is commencing a five-week training on the use of coconut waste in arts and crafts. It is a waste to wealth initiative in line with the T.H.E.M.E.S Agenda of the Governor Babajide Sanwo-Olu led administration”.

“The coconut tree, also known as the tree of life, is said to have no single part of it wasted. This training puts this fact to use, while also empowering the participants so that they can begin to immediately earn a living from skills they would be taught”, she asserted.

Olusanya noted that the training would hold in five batches of five days each, with 18 trainees per batch, beginning from Monday, 13th July 2020 to 14th August 2020, where participants would be taught how to make various artistic items and practicals, marketing and credit acquisition.

She stated further that the training would serve as a waste to wealth opportunity and a worthwhile venture for selected young entrepreneurs, while fully entailing theoretical concepts and detailed practical sessions which, when concluded, would optimise the use of coconut shells, a major waste product in coconut processing.

“Coconut is abundant in our country Nigeria and consumed by most people but we are not aware of its great potential of creating wealth. The coconut shells which most people see as waste and dispose of them improperly can be recycled into artistic products.

This also helps in sustaining the environment. As we are acquiring skills, we are also learning to sustain our environment. Sustainability of the environment is our goal. To achieve this, we are converting waste into valuable items for our use”, the Acting Commissioner explained.

She added that the training was part of the Ministry of Agriculture’s contribution to the development of the tourism sector in the State as the production of some of the artistic products from coconut shells would reflect the rich cultural heritage of the people.

Olusanya, therefore, encouraged other sectors where waste can be recycled to embrace the waste to wealth initiative as it could bring back discarded waste products into economic use and lead to a reduction of pressure induced by waste on the environment while also creating opportunities for income and employment generation in a relatively new area, thereby enhancing economic activities.

Chubb launches Work from Home Insurance for the Asia Pacific Region

SINGAPORE – Media OutReach – 14 July, 2020 – Chubb announced today the launch of Work from Home (WFH) Insurance, a
market-first in Asia Pacific. As a result of the
COVID-19 pandemic, the traditional office environment has increasingly become
the home, as work from home becomes the new normal. As businesses adapt to living with COVID-19 and
beyond, working from home is expected to remain a part of an employee’s work-life.

Chubb’s Work from Home Insurance has been tailored to enable employers to
continue to care for the health, safety and well-being of their employees whilst
they work remotely.

 

Highlights of this product include[1]:

  1. Mental health payment
    for the psychological counselling of employees diagnosed with stress disorders due
    to working from home.

  2. Ergonomic injury
    and prevention benefits for postural injuries/strains resulting from
    inconsistent workstation setups.

  3. Accidental death
    and permanent disability payments for slips and falls within the home from hazards such as stairs and unkept toys.

  4. Coverage for employees who take their work outside or
    are on the move and are injured.

 

Ben Howell, Deputy Head of Regional Accident & Health at Chubb in
Asia Pacific said, “Chubb anticipates that companies will continue to
encourage workspace flexibility even as lockdown measures are easing across the
region. Although employees have
adjusted well to being digitally connected from home via videoconferencing and
other applications, there are emerging risks as a result of this new work
arrangement. It is timely for Chubb to launch our Work from Home Insurance to meet the
evolving employee care and benefit needs.”

 

For more information about Chubb’s Work from Home Insurance, please visit
https://www.chubb.com/sg-en/business/work-from-home-insurance.aspx



[1] These product highlights are an overview
of the key features of the product. Please see the actual policy for exact
terms, conditions and exclusions.

About Chubb

Chubb is the world’s largest publicly
traded property and casualty insurance company. With operations in 54 countries
and territories, Chubb provides commercial and personal property and casualty
insurance, personal accident and supplemental health insurance, reinsurance and
life insurance to a diverse group of clients. As an underwriting company, we
assess, assume and manage risk with insight and discipline. We service and pay
our claims fairly and promptly. The company is also defined by its extensive
product and service offerings, broad distribution capabilities, exceptional
financial strength and local operations globally. Parent company Chubb Limited
is listed on the New York Stock Exchange (NYSE: CB) and is a component of the
S&P 500 index. Chubb maintains executive offices in Zurich, New York,
London, Paris and other locations, and employs more than 30,000 people
worldwide. More information can be found at chubb.com

Theragun launches new 4th Generation Percussive Therapy Devices – Delivering personalized wellness routines via Smart App integration with Bluetooth

SINGAPORE – Media OutReach – 13 July 2020 – LRT, Singapore
distributor and representative for American percussive therapy device brand
“Theragun”, launched its 3rd generation devices last year which received
excellent feedback. Now, LRT will launch Theragun’s 4th generation devices of
PRO, Elite, Prime and mini featuring QuietForce Technology™ and Smart
Percussive Therapy™, which are all seamlessly integrated to the newly updated
Therabody app.

 

All 4th
generation devices come with a newly invented proprietary brushless motor with
QuietForce Technology™. This technology delivers unrivalled power and reaches 60%
deeper into the muscles, while also reducing sound levels by 55% to 75%
compared to the previous generation.

 

Reimagine
your daily wellness routine with our new Theragun PRO, Elite and Prime of Smart
Percussive Therapy™ devices empowered by Bluetooth. With a highly personalized
app experience, our renowned deep muscle treatment is tailored to your body’s
real-time needs like never before.

 

Along
with the new models, the brand new, lightweight and pocket-sized Theragun mini is
small enough to fit into a laptop bag or purse.

 

Quiet and Powerful Percussive Therapy Devices

4th generation Theragun devices have powerful brushless
motors and ground-breaking QuietForce Technology™. All devices continue to deliver its signature 16mm
of amplitude and 2400 PPM speed while providing powerful deep muscle treatment.
Theragun PRO and Elite now operat much more quietly with sound level reduced by
55% and 75% respectively compared to the previous generation — as quiet as a
standard electronic toothbrush.

 

Theragun PRO can reach 60% deeper into the muscles than
average massagers for greater therapeutic benefits for your body. Its
reinforced drive withstands additional force without diluting speed or
treatment quality. No more worrying about sound levels or placements — you are
limited by where your imagination can take you. Relax your muscles in a peaceful
environment with massage therapy that exceeds high professional standards.

 

Stresses from our busy lives can often result in tight
muscles, preventing you from truly enjoying life and fulfilling important tasks.
Theragun Pro and Elite has an increased battery life of 200% compared to the previous
generation, whilst Prime’s has been increased by 260%. With this improvement in
battery life, Theragun can be enjoyed for a much longer period of time.

 

With the combination of sound reduction and a dramatic
increase in battery life, Theragun can now deliver a far better massage
experience, helping you feel more energized and refreshed.

 

Therabody — New Smart App to recommend guided, personalized wellness routines

Theragun developed its line of Smart Percussive Therapy™ devices with Bluetooth
capabilities, empowering you to use your smartphone to activate wellness
routines from the Therabody app. This innovative app learns from your real-time
activity and behaviours, integrating Apple Health, Google Fit and Samsung
Health to recommend personalized wellness routines that can be run on Theragun
PRO, Elite and Prime devices via Bluetooth.

 

Theragun PRO and Elite allows you to save 3 favourite preset
routines for quick and easy access if they are not near a mobile device. All
previous Theragun Percussive Therapy models will also be able to use the Therabody
app. The app supports both iOS and Android platforms.

 

Newly developed Supersoft™ attachment

Supersoft™ is Theragun’s version of vibration therapy mostly
used for sensitive areas, including bones.

 

The
professional-grade massage device Theragun Pro comes with 6 easy-to-clean attachments,
and every attachment has a unique firmness and shape to ensure the right
treatment in the right area. Theragun Elite, Prime and mini devices are all compatible
with the attachments, empowering you to use them according to different needs. Safety locks are installed on all device heads to prevent
accidents caused by loosening.

 

Portable
treatment packed with power.

Theragun
quality, anytime, anywhere.

New to the Theragun family, Theragun mini is your
pocket-sized partner, giving you a Theragun-quality muscle treatment with unparalleled
portability. Compact yet powerful, Theragun mini is the most agile massage
device that can go wherever you go. With QuietForce Technology™, Theragun mini
is smaller in size, while maintaining sound insulation and treatment quality.

 

The black matte shell design is simple and stylish. With a
patented triangle ergonomic design tailored to the mini’s unique shape, you can
enjoy a smooth, ergonomic grip that is easy to hold therefore reducing hand and
wrist strain.

 

Theragun mini can
be used with all 4th generation attachments and comes with 3 speeds of 1750,
2100 and 2400PPM. Each are scientifically calibrated to deliver greater
therapeutic benefits to the body. With up to 150 minutes of sustained run time,
mini sets the standard for true portability.

 

Four different devices to address different user
needs

Theragun understands that every user has
different needs from their massage devices. The following is a comparison of
the four Theragun devices to help you pick the right one:

­­­

Model

Theragun PRO

Theragun Elite

Theragun Prime

Theragun mini

Bluetooth

Yes

Yes

Yes

No

Amplitude

16
mm

16
mm

16
mm

12mm

Force*

60 lbs

40
lbs

30
lbs

20 lbs

Adjustable Arm

4

/

/

/

Speed

Customizable
speed range

(1750-2400PPM)

Customizable
speed range

(1750-2400PPM)

5-speed range
& customizable via app

3-speeds

(1750, 2100, 2400 PPM)

Attachments

6 (Compatible
to full range 6 attachments)

5 (Compatible
to full range 6 attachments)

4 (Compatible
to full range 6 attachments)

1 (Compatible
to full range 6 attachments)

Battery Type

2 swappable
Lithium-ion battery

Internal Lithium-ion
battery

Internal Lithium-ion
battery

Internal Lithium-ion
battery

Battery Life

150 minutes each
(Total 300 mins)

120 minutes

120 minutes

150 minutes

Warranty

2 years

1
year

1
year

1
year

Weight

1.3 kg

1 kg

1 kg

650g

*Depends on user’s force 

Images

https://www.dropbox.com/sh/dng3c124y38ifvq/AABHTlMhlh015jzIQ-45UzkQa?dl=0

 

Product
and suggested retail price:

All 4th
generation Theragun products are available for purchase on weareready.sg and authorized
retailers. For more information, please visit: weareready.sg.

 

Products/
Models

Suggested Retail Price

Theragun Pro

SGD 899

Theragun Elite

SGD 639

Theragun Prime

SGD 469

Theragun mini

SGD 319

For more
information on the new line, please visit:
www.theragun.com

or follow us on:

Instagram at https://www.instagram.com/theragunsg

Facebook at https://www.facebook.com/wearereadysg

 

About Theragun 

Theragun was created in 2008 and
officially launched in 2016 by chiropractor Dr. Jason Wersland after
suffering a life-altering injury. Building on over a decade of research and
development, the brand’s gold standard Theragun percussive therapy devices use
proprietary state-of-the-art technology to effectively reduce muscle tension,
accelerate recovery, and improve performance. In 2020, Theragun rebranded to
Therabody, continuing its mission to provide natural wellness product solutions
through innovation in the percussive therapy space. Therabody is the most
trusted percussive therapy brand among professional sports teams, professional
athletes, celebrities, world-renowned trainers, physical therapists and people
in more than 50 countries.

About Leader Radio Technologies


Leader Radio Technologies Pte
Ltd. is
a leading marketer of innovative consumer electronics brands in Singapore, Hong
Kong (HQ), Greater China and Asia Pacific, offering an inspired collection of
the most sought-after gadgets from internationally recognized brands.

 

Driven by strong marketing acumen and close
relationships with all major retail channels in the region, LRT’s portfolio of
products are being sold in nearly every corner of the market. Some products
have even become the #1 bestseller in Hong Kong according to renowned market
research firms such as GfK and NPD.

 

LRT is committed to providing our customers with
more attentive service and giving the most personalized technical support.

Suncity Group Strongly Condemns Unverified Rumours

Advise not to spread any misleading messages and make decision rationally

 

MACAU, CHINA – Media OutReach – 13 July 2020
– In response to the recent rumours circulating on the Internet, Alvin Chau,
Chief Executive Officer and Director of Suncity Group, responded in a
video today, he said, ‘According to the information provided by different
institutions, there is an indication that a nationwide anti-crime operation has
been conducting recently by the Mainland public security authorities, which is
completely inconsistent and irrelevant with the “Targeting Suncity”
as mentioned in the rumours. I strongly condemn all the rumour-mongering and
dissemination of any unfounded information!’

 

Alvin Chau Condemns All the
Rumour-mongering

 

Suncity Group Participated in the
“National Security Education Exhibition”

 

Suncity Group Supporting “We Are All
Dream Chasers — A Roving Exhibition On Contribution To The Motherland From
Compatriots In Hong Kong and Macao Over The Past 70 Years”

Alvin Chau made a detailed statement
on three points in particular; first, the late rumours about “Suncity
Group subsidizing Hong Kong rioters” are extremely absurd and
unreasonable. Deeply rooted in Macau with wholehearted devotion to the
Motherland, Suncity Group never supports any actions that may jeopardize the
country.

Second, the law enforcement
authorities in the Mainland China are said to possess customer information of
Suncity VIP Club. Alvin Chau emphasized that the Group has never received any
request from overseas or the Mainland China demanding customer information. As
an institution lawfully registered in Macau and regulated by the Macau Personal
Data Protection Act, Suncity Group is strictly forbidden to arbitrarily
disclose any customer information. The Group’s mobile app is operated and
maintained by a professional team, in which no customer information will be
stored in the system, and the server placed in Macau. The 24-hour monitoring
system has not recorded any hacker attacks. Alvin Chau reiterates that Suncity
VIP Club has never encountered any leakage of customer information.

Third, Suncity VIP Club is undeniably
financially robust. To ease public concerns, Alvin Chau has disclosed the current
financial situation in the video — Suncity VIP Club recognized a total amount
of fiscal reserve of HKD 10.58 billion, the total amount of cash flows in Cage
to be used in the daily operation of the VIP Club is HKD 18.6 billion, plus a
total deposit of HKD 16.5 billion in two Macau banks. The Group’s total assets can absolutely be
used to offset all chip deposits of all clients, foreseeable losses and bad
debts.

Suncity Group has completely abided by
the law in operating tourism and gaming business in Macau. The Group has
neither any colleagues stationed nor participated in any gaming-related duty in
the Mainland China. All employees, funds and systems are entrenched in Macau, and
in other countries that can operate VIP Club business legally.

Even confronting the COVID-19, Suncity
Group spares no effort in complying with the policy of the Central Government
and as well as the Macao SAR Government, staying true to the spirit of this
year’s NPC&CPPCC Annual Sessions of ensuring economic and social stability.
Until this very moment, Suncity Group has not laid off any Macau employee due
to financial pressure. The Group remains resolute in the commitment to achieve
a prosperous future together with Macau.

Alvin Chau, Chief Executive Officer
and Director of Suncity Group finally stated that, we are now at a critical
time of a global pandemic, while Macau is also undergoing a tough time, and everyone
should be more united. He firmly condemns the actions of some rumour-mongers
who are constantly distributing false news and offensive information with
malicious intention to undermine the economy of Macau. He also advises not to
spread any misleading messages which could endanger the employment of Macau
employees, the economy of Macau and even cause negative impacts on the mass.

Video
can be downloaded in below link:

https://dropbox.suncity-group.com/url/0712video

About Suncity Group

Suncity
Group was founded in 2007. Since establishment, Suncity Group has been striving
to provide the extraordinary VIP entertainment service for our guests, and we
then opened a number of VIP Clubs in various 6-star hotels and resorts throughout
Macau with the rapid growth of our business. Meanwhile, we successively set up
exclusive VIP Clubs in Manila, Seoul, Incheon, Phnom Penh and Da Nang, etc.

Adhering to
the spirit of “Innovating With Diversity, Striving For Success”, Suncity Group
spared no effort to develop high-end entertainment services and products as
well as roll out global VIP loyalty program for the selected members to enjoy
entertainment, travel, catering services, luxury shopping and motion picture.
Today, the scope of our business covers most sectors, especially in the fields
of global travel, film production, concert and event planning, catering and
luxury goods.

As a Macau
born and bred enterprise, Suncity Group is not only devoted to develop the
Asian market, but also oriented to expand the global network. In the future, we
will surely continue to diversify our VIP entertainment services, attract more
exclusive members and make every effort to promote our business in every corner
of the world.

Official Website | www.suncitygroup.com.mo/en

Trend Micro Finds 72% of Remote Workers Have Gained Cybersecurity Awareness During Lockdown

HONG KONG, CHINA – Media OutReach – 13 July 2020 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), the
global leader in cloud security, released survey results that show how remote workers address
cybersecurity. Nearly three quarters (72%) of remote workers say they are more
conscious of their organisation’s cybersecurity policies since lockdown began,
but many are breaking the rules anyway due to limited understanding or resource
constraints.

 

Trend Micro’s Head in the Clouds study
is distilled from interviews with 13,200 remote workers across 27 countries on
their attitudes towards corporate cybersecurity and IT policies. It reveals
that there has never been a better time for companies to take advantage of
heightened employee cybersecurity awareness. The survey reveals that the
approach businesses take to training is critical to ensure secure practices are
being followed.

 

The results indicate a high level of security
awareness, with 85% of respondents claiming they take instructions from their
IT team seriously, and 81% agree that cybersecurity within their organisation
is partly their responsibility. Additionally, 64% acknowledge that using
non-work applications on a corporate device is a security risk.

 

However, just because most people understand
the risks does not mean they stick to the rules.

For example:


  • 56% of
    employees admit to using a non-work application on a corporate device, and 66%
    of them have actually uploaded corporate data to that application.
  • 80% of
    respondents confess to using their work laptop for personal browsing, and only
    36% of them fully restrict the sites they visit.
  • 39% of
    respondents say they often or always access corporate data from a personal device
    — almost certainly breaking corporate security policy.
  • 8% of
    respondents admit to watching / accessing porn on their work laptop, and 7%
    access the dark web.

 

Productivity still wins out over protection
for many users. A third of respondents (34%) agree that they do not give much
thought to whether the apps they use are sanctioned by IT or not, as they just
want the job done. Additionally, 29% think they can get away with using a
non-work application, as the solutions provided by their company are ‘nonsense.’

 

Dr Linda K. Kaye, Cyberpsychology Academic at
Edge Hill University explains: “There are a great number of individual
differences across the workforce. This can include individual employee’s
values, accountability within their organisation, as well as aspects of their
personality, all of which are important factors which drive people’s
behaviours. To develop more effective cybersecurity training and practices,
more attention should be paid to these factors. This, in turn, can help
organisations adopt more tailored or bespoke cybersecurity training with their
employees, which may be more effective.”

 

“In today’s interconnected world, unashamedly
ignoring cybersecurity guidance is no longer a viable option for employees,”
said Bharat Mistry, Principal Security Strategist, Trend Micro. “It’s
encouraging to see that so many take the advice from their corporate IT team
seriously. Having said that, there are individuals who are either blissfully
ignorant or worse still who think cybersecurity is not applicable them and will
regularly flouter the rules. Hence having a one size fits all security
awareness programme is a non-starter as diligent employees often end up being
penalised. A tailored training programme designed to cater for employees may be
more effective.”

 

The Head in the Clouds study
looks into the psychology of people’s behaviour in terms of cybersecurity,
including their attitudes towards risk. It presents several common information
security “personas” with the aim of helping organisations tailor their
cybersecurity strategy in the right way for the right employee.

About Trend Micro

Trend Micro Incorporated, a global leader in cybersecurity
solutions, helps to make the world safe for exchanging digital information. Our
innovative solutions for consumers, businesses, and governments provide layered
security for data centers, cloud environments, networks, and endpoints. All our
products work together to seamlessly share threat intelligence and provide a
connected threat defense with centralized visibility and control, enabling
better, faster protection. With more than 6,000 employees in over 50 countries
and the world’s most advanced global threat intelligence, Trend Micro secures
your connected world. For more information, visit www.trendmicro.com.hk.

Right Key Investment Professional Team: Lawyers, Accountants, and Engineers provide exclusive strategies for investing in Australian Real Estate

HONG
KONG, CHINA – Media OutReach –
13 July 2020 – Whether you are a beginner or an experienced investor, a
turbulent year like 2020 makes it unmistakably difficult to accurately predict
how the investment market will behave. Moreover, with having Hong Kong’s
economy having been heavily impacted by political crises as well as the ongoing
pandemic, market analysis has become even harder to predict. 

However,
according to a recent report on the British Times, Li Jinrong, the chairman of
the Hong Kong Investment Fund Association expressed that, “Hong Kong’s
long-term strategic position will not change. Currently, InvestHK
maintains close communication with current and potential investors, and
investors are ‘still quite optimistic’ about the medium- and long-term
development prospects of Hong Kong.” And Right Key Investment is prepared to
fully utilizes their senior team to create one-on-one investment services to
make the investment more professional and successful.

A
real estate agency in Melbourne, Australia, Right Key Investment to aims help their clients
from Asia who are interested in buying a property in Australia to understand
the market and the secondary market. So that their clients make the right
investment decisions. As an agency that consists of Hong Kong people
living in Australia, Right Key Investment’s team can fluently communicate in
Cantonese, English, and Mandarin. With an in-depth understanding of the
development of Australian real estate, especially the second-hand market.
Coupled with professionalism and years of financial experience in Australia, we
know what it takes to attain exceptional cash flow from property investments.

Additionally,
Right Key Investment’s team of professionals can provide a tailored approach to
help customers analyse the situation from multiple angles, that lead to
intelligent and wise investment decisions. Moreover, Right Key Investment has a
pool of properties for their clients to choose from and can even find
off-market Australian real estate if it is better suited to their needs.

If
you want to get involved in the Australian property market, Right Key
Investment offers exclusive tailored investment plans that can help our clients
succeed. We hope to hear from you soon!

Deap Capital Management Clarifies Rumour on AMCON’s Takeover

Deap Capital Management & Trust Plc clarifies the news item from various online sources, especially The Cable, dated 9 July 2020, and captioned AMCON takes over assets belonging to Deap Capital-sixth seizure in 21 days”

The Company hereby makes the following clarifications:

  1. The Asset Management Corporation of Nigeria (AMCON or the Corporation) holds a significant equity stake in the Company. The Corporation holds about 20% equity stake in the Company.
  2. The Company is indebted to AMCON. The indebtedness stands at about N1.6 Billion.
  3. The indebtedness arose from the Corporations purchase of eligible bank assets.
  4. The Corporation instituted an action against the Company in the Federal High Court, Lagos and judgment were delivered on January 28, 2015.
  5. The Corporation had judgment awarded in its favour in the above suit.
  6. Pursuant to the judgment, the Corporation instituted recovery processes against the Company.
  7. The Corporation recently secured a Court Order to attach the assets of the Company’s former directors.
  8. The assets as described by the aforementioned news item, and referenced by a Press Release from AMCON are the assets of one of the Company’s former directors attached to the judgment.
  9. The Company is resolving its indebtedness to AMCON.
  10. The Company is working with its stakeholders to ensure its return to profitability.
  11. The Company is resolving its operational challenges most notably the recovery of its operational licenses.
  12. The Company’s Board of Directors is committed to resolving all issues.

Nigeria: CBN bans Corn/Maize importation

The Central Bank of Nigeria (CBN) has directed all authorised dealers to immediately discontinue the processing of Forms M for maize/corn importation into the country.

The CBN gave this directive in a notice that was addressed to authorised dealers and signed by the CBN’s Director in charge of Trade and Exchange Department, Dr O.S Nnaji.

The apex bank highlighted four main reasons for the directive to discontinue maize importation into the country.

The stated reasons are:

  • To increase local production
  • To stimulate a rapid economic recovery
  • To safeguard rural livelihoods
  • To increase jobs

In line with this, all the authorised dealers have been told to return all the Forms M they have already registered for the purpose of importing maize. They are to return the forms on or before Wednesday, July 15, 2020.

The notice shared by the Apex bank reads:

“As part of efforts by the Central Bank of Nigeria to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods, and increase jobs which were lost as a result of the ongoing COVID-19 pandemic, Authorised Dealers are hereby directed to discontinue the processing of Forms M for the importation of Maize/Corn with immediate effect. 

“Accordingly, all Authorised Dealers are hereby requested to submit the list of Forms M already registered for the importation of Maize/Corn using the attached format on or before the close of business on Wednesday, July 15, 2020. Please ensure strict compliance.”

Earlier in the year, the CBN added milk and dairy products to the list of items not eligible for forex. However, the bank exempted six companies from the restriction. The exempted companies have begun investments in local milk production as part of the central bank’s backward integration plan.