Enyo Reiterates Commitment To Create Shared Value, In Line With SDGS

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Enyo Reiterates Commitment To Create Shared Value, In Line With SDGS

According to the UN, over 3 billion people rely on wood, coal and charcoal for energy. Also, indoor air pollution from using combustible fuels for household energy caused 4.3 million deaths in 2012, with women and girls accounting for six out of every 10 of these. These amongst many urgent environmental, political and economic challenges facing our world needed to be addressed globally to improve quality of life.

In 2015, the international community adopted a set of 17 goals as part of a new global agenda on sustainable development. The environment underlies each of those goals – from eliminating hunger to reducing inequalities to building sustainable communities hereby tackling challenges facing the world. The 2030 Agenda for Sustainable Development provides a global blueprint for dignity, peace and prosperity for people and the planet, now and in the future. A few years into the agenda, we must examine how various sectors of the society, especially the private sector are translating this shared vision into national development plans and strategies.

Leading companies have begun to recognize that they can only address the complex sustainability challenges by scaling up their efforts through collaboration with industry and sector organizations, customers, governments and society. It is in recognition of this that a leading downstream oil & gas company, Enyo Retail and Supply have engaged in initiatives that translate the shared vision of the SDGs to create shared value for all stakeholders. One of the core principles that underpin the United Nation’s approach to achieving these goals includes Innovation as new and innovative pathways are highly required to allow countries to leap forward.

One of such innovations is shown in Enyo’s commitment to ensuring that children in Nigeria are better equipped and qualified to compete in the global world, by providing a STEM (Science, Technology, Engineering and Math) Café that caters to kids from age 5 to 12. This initiative is which aligns with SDG 4 is part of Enyo’s corporate investment and skills development initiatives targeted at building future entrepreneurs in the country.

Enyo has also engaged in campaigns to sensitize the general public on the dangers of air pollution and the need to adopt clean energy for cooking purposes – SL Gas. As part of its efforts to guarantee the satisfaction and safety of its customers and community, Enyo is also investing hugely in providing internet service, clean water and security – through the use of Close Circuit TV (CCTV) within their facilities.

“Nigeria needs to become aggressive in achieving the SDGs and adopting measures that will enable our nation to leap forward. There is the need to invest in education, health – through clean water, technology and security, through Public and Private Partnership as more efforts like this are required. Thankfully, Enyo is spearheading innovative initiatives that are gradually transforming our society for the better and attaining the SDGs,” Chief Executive Officer, Enyo Retail and Supply Abayomi Awobokun said.

The implementation of Sustainable Development Goals such as; quality education and clean water and sanitation, will help to achieve overall development plans, reduce future economic, environmental and social costs, strengthen economic competitiveness and reduce poverty.

Focusing on a purpose that is rooted in creating value for others, improving the world we live in and inspiring the organization at all levels, Enyo aims to increase its ability to create sustainable value. Fundamentally, the SDGs provide a historic moment for companies to take society’s challenges and leverage them as opportunities to enhance business growth and long-term competitiveness.

African Development Bank Group Becomes A Shareholder In Africa Finance Corporation

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African Development Bank Group Becomes A Shareholder In Africa Finance Corporation

Shareholding follows investment of $50 million in AFC’s equity by Bank Group, African Development Bank becomes second investment-grade Supranational Finance Institution to join and invest in AFC.

Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, today announces that the African Development Bank Group, Africa’s highest investment-grade rated (AAA with stable outlook) multinational financial institution, has invested $50 million in the equity of AFC.

The Bank Group’s investment in AFC will enable both institutions to accelerate infrastructure development and delivery on the continent by deepening co-financing opportunities, joint implementation, knowledge transfer and capacity development for the benefit of Africa.

The addition of the African Development Bank Group as a shareholder and development finance institution member of AFC complements the Corporation’s strategy of addressing Africa’s infrastructure deficit. It also marks a further step in the Bank’s undertaking to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent’s economic and social development.

The equity investment in AFC further broadens its shareholder base and follows recent equity investments in the Corporation by African Re-Insurance Corporation and the Republic of Ghana. The African Development Bank Group will have representation on the AFC Board of Directors as part of the equity investment.

Samaila Zubairu, President and Chief Executive Officer of AFC, commented on the completion of the equity investment by the Bank: “AFC welcomes the African Development Bank Group as a shareholder and strategic partner, with whom we would continue our collaboration journey to address Africa’s infrastructure deficit and challenging business environment. AFC’s mandate is a strategic fit for the Bank’s objective to integrate, energize and industrialise Africa.”

Dr Akinwumi A. Adesina, President, African Development Bank Group remarked: “We share AFC’s vision of developing Africa-led responses to the continent’s socio-economic development. To date, we have worked jointly to deliver transformational projects with tangible impact over the years.

This development is, therefore, a natural evolution in our partnership, which in turn, will result in delivering solutions to Africa’s infrastructure challenges at a faster pace. These solutions will adopt the highest standards, generate value to stakeholders, and foster sustainable development and economic growth across the African continent.”

Novartis Announces New Strategy To Provide Innovative Medicines To More Patients In Sub-Saharan Africa

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Novartis Announces New Strategy To Provide Innovative Medicines To More Patients In Sub-Saharan Africa

The strategy is aligned with the Novartis Access Principles, which aim to systematically integrate access strategies in how the company researches, develops and delivers medicines globally; a newly formed sub-Saharan Africa unit will deploy innovative approaches to increase patient reach across the full income pyramid. Novartis is building on its established activities in malaria, cancer, sickle cell and cardiovascular diseases as well as proven social business models on the continent; a quarter of the global disease burden is located in Africa, but only 3% of the world’s health workers are based on the continent and the share of the world’s health expenditure for Africa is below 1%.1.

Novartis announced today a new strategy to broaden patient reach and availability of its portfolio of medicines in sub-Saharan Africa (SSA), which is home to the largest underserved patient population in the world. Novartis also aspires to be the partner of choice for governments and NGOs to strengthen healthcare systems across Africa.

“We are deeply committed to improving access to medicines around the world,” says Vas

Narasimhan, CEO of Novartis. “Building on our longstanding efforts to improving health in Africa, including on malaria and sickle cell disease, we’re taking a comprehensive approach to ensuring patients in sub-Saharan Africa, regardless of income, have access to our portfolio of medicines.” 

A quarter of the global disease burden weighs on Africa, but only 3% of the world’s health workers are based on the continent and the share of the world’s health expenditure for Africa is below 1%. Health systems frequently have to rely on NGOs and external donors to fund and provide services for the largest underserved patient population in the world.

As part of the new strategy, Novartis will pivot the current organizational focus in SSA from financial metrics such as sales performance and profits to metrics that drive access to innovative medicines and strengthen health systems in the region. A new organizational unit will bring together the expertise and portfolio of our Sandoz Division, the Novartis

Pharmaceuticals and Oncology business units comprising our Innovative Medicines Division and Novartis Social Business. Racey Muchilwa is appointed Head of Global Health SSA, contributing her strong knowledge of the healthcare system and patient needs in the region.  The SSA unit aims to maximize patient reach across the full income pyramid by focusing on tiered pricing models, competitiveness in tenders and scaling social business models as well as affordability strategies. Novartis also will work to increase its clinical trial capabilities and accelerate regulatory and administrative processes in the region to shorten the time between the development, approval and ultimately access to new medicines for patients across SSA.

“I feel honoured to lead our talented team in executing our new strategy. Our aspiration is to be the leading healthcare partner in sub-Saharan Africa and work with NGOs and governments to strengthen health systems,” says Racey Muchilwa, Head of Global Health SSA. “We aim to harness the power of digital and new technologies, to maximize the impact we can have on the health of people in sub-Saharan Africa where the population is expected to double by 2050 to 2.2 billion.” 

Novartis has a long-standing commitment to helping improve the health of people in Africa. This includes communicable diseases such as malaria and leprosy as well as non-communicable diseases such as sickle cell disease (SCD), cardiovascular disease and cancer. Novartis has contributed nearly 900 million courses of malaria treatment at no-profit to patients in malaria-endemic countries, including more than 380 million doses of our pediatric formulation.  Novartis is also pioneering research and development with clinical trials, utilizing novel biologic molecules and deploying new technologies to provide the benefits of cutting-edge innovation to the region. Most recently, the company announced a broad public-private partnership with the government of Ghana to tackle sickle cell disease, including access to available medicine, clinical research and use of digital technologies to achieve global standards of care.

Airtel Africa To Acquire Additional Spectrum In Nigeria To Improve Its LTE Services Across The Country

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Airtel Africa To Acquire Additional Spectrum In Nigeria To Improve Its LTE Services Across The Country

Airtel Africa Plc (“Airtel Africa”), a leading pan-African provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announced an agreement between Airtel Networks Limited (“Airtel Nigeria”), a subsidiary of Airtel Africa, and Intercellular Nigeria Limited, to acquire additional 10 MHz spectrum in the 900 MHZ band in Nigeria for a consideration of $70 million, excluding NCC Fees as per the NCC Spectrum Trading Guidelines. The acquisition of this additional spectrum (the “Acquisition”) will allow Airtel Nigeria to expand and strengthen its LTE network across the country.

The Acquisition is subject to regulatory approval by the Nigerian Communications Commission (NCC).

Nigeria is Airtel Africa’s largest market. In the six months’ period ended 30 September 2019, Airtel Nigeria’s revenue increased by 23%, with data growth being the largest contributor. Data revenue increased by 76% during the period driven by the accelerated rollout of our 4G network, with an increase in the data customer base of 20.8% and an ARPU growth of 43%. During the period, 4G data usage increased by almost 20 times.

Raghunath Mandava, CEO of Airtel Africa commented: “Data is a key pillar of our growth strategy, driven by increasing 4G networks and supported by the increased affordability and increasing penetration of smartphones. With an overall smartphone penetration of more than 35% and data consumption growing by 92% in the six months’ period ended 30 September 2019, Nigeria presents a significant growth opportunity in data. The acquisition of this spectrum will enable us to further deliver on this growth opportunity and continue to offer our Nigerian customers enhanced user experience.”

Airtel Africa, the second-largest mobile operator in Africa by a number of active subscribers, offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. The Group has invested to expand its network footprint and the number of 4G sites, to enhance network quality and experience. Airtel Africa is well-positioned to capture growth opportunities presented by promising underlying macroeconomic and demographic trends in a fast-growing region that is vastly underpenetrated in terms of mobile and banking services. The Group’s footprint is characterized by low but increasing levels of mobile connectivity, with a unique user penetration at 44%, highlighting the potential for growth across its footprint.

2019 Taipei International TV Market & Forum highlights international viability of Taiwan’s original content

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2019 Taipei International TV Market & Forum highlights international viability of Taiwan’s original content

TAIPEI,
TAIWAN – Media
OutReach –
14 November 2019 – The Bureau of Audiovisual and Music Industry
Development hosted the 2019 Taipei International TV Market & Forum (TTM) at
the Taipei Marriott Hotel from November 12 to 14. Deputy Minister of Culture Peng
Chun-heng, representatives of the Bureau of Audiovisual and Music lndustry
Development, and other distinguished guests were in attendance at the opening
ceremony of the event, which showcased Taiwan’s best TV products and spurred international
cooperation and sales.

Deputy
Minister Peng said that the Taipei International TV Market & Forum is an
excellent place to take stock of the industry, share experiences and
technologies, develop international cooperation, and work for a healthier
environment for cultural industries. The Ministry of Culture, he stressed, has
invested in creating an environment conducive to the growth of cultural
industries. It has offered awards and funding for the publishing of novels,
creation of scripts, establishment of the Taiwan Comic Base, program
production, post-production and special effects, culture-related technology,
personnel training, overseas marketing, and script translations and dubbing. These
programs have laid the groundwork for creation, and greatly increased the
nation’s capacity to produce original content. More, they have opened up new
pathways for derivative content to reach the marketplace.

There
were 84 buyers representing 20 nations and regions. Among the guests of honor were
GYAO and Hulu Japan, both of Japan, and the sponsors also added a Southeast
Asia Exhibition Area, where the representatives of related countries set up
booths.

In
attendance were 64 of Taiwan’s television channels, post-production firms, new
media technology firms, TV content creators, over-the-top platforms, film
councils of Taiwan’s cities and counties, and Southeast Asian vendors, as well
as the newly established Taiwan Creative Content Agency (TIACCA). Altogether,
these operators offered 244 TV programs.

Three
International TV Forums were held: Bringing Taiwan’s Original Content to the
Global Market, the TV/OTT Effect on Drama Productions; and Content Analytics:
Functions and Applications. At these, experts from around the globe shared insights
and perspectives on the latest international trends, successful cases, and key
operational milestones. These events spurred greater understanding among
Taiwan’s industry players. Two pitching sessions allowed Taiwan’s content
creators to meet with investors from all over the world.

Consumer Goods players: How they square-up in Q 3-19

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Consumer Goods players: How they square-up in Q 3-19

Based on 9M-2019 earnings, performance consumer good companies remained pressured by weaker consumer wallets and tougher operating environment. For context, only UACN recorded growth in both Revenue and PAT from continuing operations in Q3-19. Notably, UACN’s real estate segment (UPDC) was re-classified as a discontinued operation in the Group’s Income Statement for the period. Elsewhere, despite managing to grow Revenue by 2.4% y/y in Q3-19, NESTLE’s PBT (-0.6%) and PAT (-9.1%) decreased y/y, dragged by rising production and operational expenses. More surprising, UNILEVER’sQ3-19 Revenue slumped 62.9% y/y which according to management was linked to tighter credit terms with key distributors in a bid to minimize nonperforming receivables.

The performance of Flour Millers (FLOURMILRevenue: -0.5%y/y, PAT: +17.4%) and Sugar Refiners (DANGSUGAR- Revenue: +13.4%y/y, PAT: -6.7%) improved slightly, thanks to positive development in the traffic situation at Apapa port and partial closure of land borders which helped to curb smuggling activities, late in Q3-19. Though pressures from operating costs remained (OPEXFLOURMIL: +14.1%, DANGSUGAR: +56.9%). For Brewers, performance remained underwhelming amid tight consumer wallets and intense competitions. Additionally, all sector participants recorded massive growth in Net Finance cost (NB: +139.6%; GUINNESS: +143.8%; and INTBREW:+116.4%).

Our overall outlook for the consumer goods sector in Q4-19 is not overly positive due to myriads of macro bottlenecks that continue to weigh on operating performance.

UNITED CAPITAL PLC

9M-19 Earnings for Oil & Gas Companies: Elevated costs, Volatile prices

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9M-19 Earnings for Oil & Gas Companies: Elevated costs, Volatile prices

For 9M-19, the financial performance of the Oil & Gas players – both downstream and upstream reflected burning issues in the local and global oil markets. Upstream companies struggled with lower realized prices, as global crude oil prices declined on the back of geopolitical risks and trade tensions. As such, SEPLAT recorded a 12.6% y/y decline in revenue, which was also worsened by a 6.2% drop in average working interest production (47,163boepd). However, profit for the period was up by 102.5% y/y, as tax credit masked the tepid performance.

Analyzing the downstream sector, growth in revenue was mixed, as MOBIL (+13.2% y/y) and FORTE (+30.3% y/y) recorded growth across major product lines, while TOTAL’s revenue fell by 2.2% y/y. However, with capped PMS prices, growth in the cost of sales outweighed revenue, causing gross profit to decline across the board (MOBIL: -10.2%y/y, FORTE: -3.8%y/y and TOTAL: -19.0%). For MOBIL, despite lower operating expenses, PAT dropped by 19.4%, as income from its property business fell. TOTAL recorded the worst position y/y, declaring a loss of N204.8mn, due to expensive borrowing and higher administrative expenses. However, FORTE recorded a massive 1408.2% increase in PAT, due to gains on disposal of a subsidiary and interest from the subsidy.

Looking into Q4-19, the weaker outlook for oil prices, due to prolonged uncertainty in global trade and weakening growth, will have negative implications on upstream production revenues. Also, with deregulation unlikely this year and the recent border closure cutting off revenues from neighbouring countries, the downstream players will remain in a high cost/ capped price environment.

UNITED CAPITAL PLC

Obasanjo urges industrial scale agriculture for self-sufficiency in Africa

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Obasanjo urges industrial scale agriculture for self-sufficiency in Africa

Former Nigerian President and IITA Goodwill Ambassador, Chief Olusegun Obasanjo has called for the adoption of agriculture as a business, which when implemented on an industrial scale will generate employment, especially among youth, as well as drastically reduce national food import bills. He made the remarks in Kalambo, Democratic Republic of Congo, during the inauguration of IITA’s research station, which was named after him.

Chief Olusegun Obasanjo giving his remarks at the inauguration of the IITA campus in Kalambo.

Chief Obasanjo reminisced about being deployed to DR Congo 59 years ago as a young soldier with the United Nations Peacekeeping and noted with nostalgia how honoured he was to be back and to have the campus named after him.

He lauded IITA’s research and innovation in agribusiness stating, “I cannot be better honoured than to be associated with the work and stations of IITA as a foremost agricultural research undertaking in Africa.”

“As the honorary ambassador of IITA,” he continued, “what makes me particularly happy is that the product of the research in this campus will soon be discharged all around in this country and in the adjoining countries.”

He spoke of the growth of the cassava value chain in Nigeria during his presidency and enjoined President Felix Tshisekedi of DR Congo to support IITA’s work to ensure such progress, and even more, is replicated in DRC. “When I became the President of Nigeria, we were producing 30 million metric tons. By the time I left, it moved to 50 million metric tons and there was no reason why we could not go on to reach 100 million metric tons.”

He noted there was room for more growth as cassava has gone from simply being a food crop to being used in industrial production of ethanol and other products.

He spoke of three other crops that he considered important cash crops namely, soybean, cowpea, and plantain/banana and noted that “If we can be self-sufficient in them, I believe that we will drastically reduce the 50 billion dollars that we are spending every year in Africa to import food.”

In an exclusive interview with Radio IITA, Chief Obasanjo spoke of his love for agriculture, which he says, “I have been practising very seriously for the last 40 years when I first left public office, and it is something that gives me joy.” However, he repeatedly advocates for the adoption of agriculture as a business and not just as a development issue.

“As a development project or program, agriculture is slow to address hitches but as a business, the planning and execution would be more urgent to achieve business goals”,. he said. To meet the food security needs of Africa now and in the future, particularly with the expected population explosion, this urgency needs to drive agriculture to the next level of productivity.

“Agriculture as a business will create employment especially among the youth, who need to start participating more in the sector to guarantee the commercial and nutrition stability of Africa in the present and in future.” According to Chief Obasanjo, it has been difficult to appeal to youth by treating agriculture as a development issue, but agribusiness stands a better chance of attracting young people, particularly the educated ones.

Chief Obasanjo’s final words at the inauguration focused on harnessing the human resources of Africa. He encouraged leaders to look out for competent Africans in diaspora and take advantage of their expertise for the benefit of African countries and the continent as a whole.

ASL Intends to Spin Off U.S. Business with a Valuation of Approximately HK$3 Billion Listed on Nasdaq

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ASL Intends to Spin Off U.S. Business with a Valuation of Approximately HK$3 Billion Listed on Nasdaq

Demonstrate The Outstanding Capital Operating Capability

Represent An Important Step Forward In Implementing The Group’s Regional Development
Strategy

 

HONG KONG, CHINA – Media
OutReach – 14 November 2019 – Automated Systems Holdings Limited (“ASL” or “the Group”) (HKEX
stock code: 771), a trustworthy and professional global Information Technology
(“IT”) partner, is pleased to announce the spin-off of Grid Dynamics International, Inc.
(“Grid Dynamics”), the Group’s U.S. and Europe business, with a valuation of approximately
US$390.1 million (approximately HK$3,042.8 million). Grid Dynamics is expected
to be listed on Nasdaq via ChaSerg Technology Acquisition Corp. (“ChaSerg”)
(NASDAQ: CTAC), a listed company on Nasdaq (“Nasdaq”), with a structure of a reverse
triangular merger followed immediately by a forward triangular merger.  

 

Signing
ceremony signifies a brighter future for ASL, Grid Dynamics & Teamsun

In this transaction, 100% equity interest in Grid Dynamics will be injected
into ChaSerg by way of merger, and the merger consideration payable by ChaSerg
will be in two forms, namely cash and new shares issued by ChaSerg. The cash to
share payment ratio will be approximately 33.3% to 66.7%, and will be adjusted according
to the terms of merger agreement. Upon completion of the transaction, ASL will
be entitled to receive close to US$93.6 million (approximately HK$730.6
million) in cash and approximately 34% of ChaSerg’s marketable shares (on fully
diluted basis), and expects to record approximately US$88.5 million
(approximately HK$690.3 million) investment gain. The figures above will be
adjusted according to the terms of merger agreement. In addition, Grid Dynamics
itself will receive nearly US$80 million (approximately HK$624.0 million) after
the completion of transaction. Meanwhile, upon the closing, Grid Dynamics will
replace ChaSerg to  be listed on Nasdaq under
the name of Grid Dynamics Holding (stock trading code to be determined).

 

Mr. Leon Wang, Chief Executive
Officer and Executive Director of ASL said, “Grid Dynamics after being
acquired by ASL as a wholly-owned subsidiary in 2017 for US$118.0 million
(approximately HK$920.4 million), its financial performance has been growing,
with an increase in revenue and EBITDA at around 30% in these few years, and
the EBITDA margin remained stable at 25%. At the same time, the Group has
continued the Research & Development (“R&D”) investment in two areas –
machine learning and artificial intelligence – for the recent two years to
enhance technical capabilities of Grid Dynamics. In this transaction, the
valuation of Grid Dynamics is about 3 times higher than that at the time of the
acquisition, which shows that its value is fully recognized by the
market.”

 

The transaction involves three of the world’s first-tier securities
exchanges, including the NASDAQ Stock Market, the Hong Kong Stock Exchange and
the Shanghai Stock Exchange. The transaction processes are required to follow
different listing regulations and manage different compliance procedures.
Meanwhile, because Grid Dynamics has operations in several countries in Europe
and U.S., it also has to comply with the regulations under the legal system of multiple
countries, and the overall transaction complexity is high.

 

Mr. Leon Wang added, “The two major directions of the Group’s future
development are to build on digital transformation and to strengthen the
Group’s position as an unified technology services provider by integrating
technology with customer applications internally, and by extending development
beyond Hong Kong externally. The spin-off of Grid Dynamics is an important step
forward in implementing the regional development strategy, and in addition to
expanding Grid Dynamics’ overseas business development potential. Furthermore, the
Group is also recovering significant investments costs through this capital
operation to further advance future business development in the Asia-Pacific
region. After the transaction, the Group will have sufficient cash with sharply
decreased debt pressure and improved ability to distribute special dividends
and repurchase shares. At the same time, the Group’s profit is expected to increase
in the coming future and it is very likely for the Group to increase the dividend
payout ratio and bring higher returns to shareholders.”

 

Mr. Wang Weihang,
Chairman of the Board of Directors of ASL expressed,
“Facing global economic pressures and geopolitical risks, this transaction,
on the one hand, balances macro risks with the benefits of ASL’s development.
On the other hand, Grid Dynamics will be able to leverage the capital market
for merger and acquisition for cross-sector and cross-border business expansion,
enlarging its development potential in the European and U.S. markets, thereby further
enhancing the market value of Grid Dynamics. It is reported that among the
companies listed on the Hong Kong Main Board, the Group is one of the few local
IT enterprises. After the completion of the transaction, it is believed that
the Group is the only Hong Kong local technology enterprise whose business is
listed on Nasdaq, which will become a classic case of capital operation in Hong
Kong’s IT industry.”

 

Upon completion, Grid Dynamics will become an associate of the Group,
and the Group is also its single largest shareholder. Grid Dynamics will
continue its planned business cooperation strategy and synergise with the
Group’s Asia-Pacific operation, including project-level collaboration and
technology integration and acquisition. The Group will focus on industries with
a competitive edge, further enchancing its integration service provider’s
technical capabilities to strengthen its market positioning and to connect
leading technologies with innovative products and business applications. In
addition, it will continue to provide one-stop global IT services to Belt and
Road enterprises.

 

Grid Dynamics is a provider of open source, scalable and
next-generation technology solutions, headquartered in Silicon Valley in the
U.S. Its business covers omni-channel e-commerce, cloud enablement, big data
analytics and continuous delivery. It is trusted and supported by Fortune 500
customers such as Google, Apple and more multinational companies. In 2019, Grid
Dynamics was named as a Leader among midsize agile development service
providers by The Forrester waveTM (NASDAQ:FORR), one of the world’s
most influential research and consulting firms, demonstrating Grid Dynamics’
superior software development capabilities.

 

Lloyd Carney is a core member
in ChaSerg’s investment and management team. He has more than 25 years of IT executive
experiences (including Xsigo Systems, Micromuse, Juniper Networks, etc), and
more than 10 years of technology industry investment experiences. Lloyd was CEO
of Brocade (NASDAQ:BRCD), the world’s leading communications hardware vendor, from 2013 to
2017. Brocade was acquired by Broadcom in 2017, and its market value had risen more
than double; the transaction was directed by Llyod. As CEO of ChaSerg, Lloyd will
participate in the daily operation of Grid Dynamics, providing all-round
support to capital, management and business.

 

According to a report by International
Data Corporation (IDC), the premier global provider of market intelligence and
advisory services for the IT markets, ASL is one of the top 3 local IT
integration service providers. Leveraging digital transformation and effective
operation, the gross profit of the group in Asia-Pacific is 12.3%, which
increased about 53.0% compared with the single digit in 2014. The Group expects
that the trends of digital transformation, cloud computing, Internet of Things
and 5G will continue to stimulate strong demand of the market for new
technologies. In light of the complexity of new technologies, customers may
face challenges in mastering relevant technologies or in shortage of manpower.
There is thus an increased demand for IT companies that possess IT capabilities
in various fields. Apart from the above capabilities, in terms of cloud computing,
the Group possesses professional consultancy teams as well as outstanding
building and management abilities, by which it assists clients in migrating
their applications to different types of cloud platforms from various vendors.
Meanwhile, the Group plans to invest resources worth tens of millions of Hong
Kong dollars in the coming years on the enhancement of service platforms in
omni-channel and cloud services, aiming to increase its potential for sustainable
development and to deepen the cooperation with its customers. The relevant
plans are underway and are advancing actively.

 

The Group expects the spin-off
of Grid Dynamics can further consolidate its position in the U.S. IT industry,
continue to grasp its unique advantages and development potential with abundant
funds, and to promote the next round of rapid development. Looking forward, ASL
will make use of the opportunities arising from digital e-commerce, big data, cloud
computing and open source technology solutions, and improve operation
efficiency, strengthen technical R&D, and achieve synergies across different
business segments. Also, the Group will seize the business opportunities from the
Belt and Road Initiative, the Greater Bay Area and the Southeast Asia, to
further expand market share and enhance profitability. In addition, the Group
sees Nasdaq as the market for the world’s top technology stock trades,
including Amazon, Apple, Facebook and Google. The Group believes that Grid
Dynamics’ listing on Nasdaq will enhance its reputation in the IT field. Hence,
it can further support its business growth and fund-raising capability, and synergise
with the Group’s business in Asia-Pacific region, eventually providing return to
the shareholders with steady development in performance.

 

The transaction is subject to approval by the shareholders’ meetings
of the parties involved in the transaction and authorizations from the relevant
national government departments. It is expected to be completed in early 2020.
For details, please refer to the announcement issued by ASL on 13 November
2019.

About Automated Systems Holdings Limited

Automated Systems Holdings Limited (“ASL” or “The Group”) was listed
on the Stock Exchange of Hong Kong Limited in 1997 (Stock Code: 771). ASL,
consists of Automated Systems (H.K.) Limited, ELM Computer Technologies Limited,
CSA Automated (Macau) Limited, Guangzhou Automated Systems Limited, ASL
Automated (Thailand) Limited and Grid Dynamics International, Inc.. In
addition, i-Sprint Innovations Pte Ltd is an associate of the Group. The
Group’s core business is based in Hong Kong and Macau and covers Asia Pacific,
Europe and the United States. It is dedicated to offering professional and
trustworthy information technology (“IT”) services to corporate clients around
the world.

 

The Group’s core businesses are Innovative Solutions, Intelligent
Cybersecurity Services and Integrated Managed Services. Innovative Solutions business
is offering holistic business solutions to accelerate customers’ digital
transformation. Intelligent Cybersecurity business is specialized in digital
asset protection & risks prevention. Integrated Managed Services business
is to manage clients’ IT infrastructure and cloud platform in entire IT
lifecycle with its world-class, industry-specific and end-to-end services.

 

With ASL’s 7 research and development centers worldwide, over a
thousand of high-caliber experts, and more than 45 years of experience in
providing professional IT services to global users, ASL provides the best
practices for customers’ IT management and is definitely customers’ trustworthy
and professional global IT partner.

 

For more information, please visit our web page at http://www.asl.com.hk.

 

CIMB Bank Singapore Partners SESAMi-Capital Match to Bring Cost-effective E-supply Chain Financing Solutions to the Supplier Community

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CIMB Bank Singapore Partners SESAMi-Capital Match to Bring Cost-effective E-supply Chain Financing Solutions to the Supplier Community

SINGAPORE – Media OutReach – 14
November 2019 – CIMB Bank Berhad,
Singapore branch (“CIMB”) today announced its collaboration with SESAMi Holding
and Capital Match, to finance the SESAMi trading community’s invoices digitally
under an automated workflow.  

Photo: From left to right – Mr
Sharath Singh, Commercial Director of Capital Match; Mr Ong Teck Soon, Chairman
and Group CEO of SESAMi Holding; Mr Victor Lee, Deputy CEO of CIMB Singapore
and CEO of CIMB Group Commercial Banking; Ms Lai Ven Li, Head of Corporate
Banking of CIMB Singapore; Mr Desmond Loh, Co-Head of Transaction Banking of
CIMB Singapore

SESAMi Holding, an e-procurement platform in
Singapore serving the supply chain needs for customers like Singtel, SATS, SIA,
SRC and more, acquired Capital Match, an invoice financing marketplace with
operations in Singapore and Hong Kong.  Mr Ong Teck Soon, Chairman and Group CEO of SESAMi Holding said,
“SESAMi’s integrated procure-to-pay and supply chain financing allows the
suppliers to access lower cost of funds by leveraging on large corporate
buyers’ good credit rating.” Suppliers on SESAMi will be paid
immediately on their outstanding invoices on the platform within two business
days as soon as they are on-boarded on to the supply-chain financing
program.

Said Mr Victor Lee, Deputy CEO of CIMB Singapore
and CEO of CIMB Group Commercial Banking, “Customer experience is one of our primary focus and
the collaboration with SESAMi-Capital Match presents another scalable avenue
for us as we are constantly striving to digitize our services and offerings to
better service our banking clients. This is aligned with the government’s
framework for e-invoices and call for companies to keep up with innovation.
CIMB is very proud to be part of this.”

Capital Match, the e-financing arm leading this
initiative will be reaching out to the supplier community to initiate this
program. “The funding process will be extremely sped up through
leveraging on our Early Payment System (EPS) which was launched earlier this
year for the SESAMi supplier community. With the supply-chain financing,
suppliers only need to submit minimal documents to be on-boarded under the
program and this will facilitate a smooth and simple process for the suppliers,”
added Mr Sharath Singh, Commercial
Director of Capital Match.

The process of onboarding onto this supply chain
financing program is simplified, with no need to submit invoices as the
e-invoices can be selected for financing via the SESAMi platform.

Added Ms Lai Ven Li, Head of
Corporate Banking of CIMB Singapore, “Once the account is set up under the e-supply
chain financing program, technology enables working capital funding to be promptly
transferred to our customers. We want our financing package to be attractive to
provide our customers a positive experience and access to new financing
options. Our objective is to ensure a cost-efficient solution and non-recourse working
capital funding option that supports our customers’ growth.”

About CIMB Group

CIMB
Group is one of ASEAN’s leading universal banking groups and is Malaysia’s
second largest financial services provider, by assets. It offers consumer
banking, commercial banking, investment banking, Islamic banking and asset
management products and services. Headquartered in Kuala Lumpur, the Group is
present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand,
Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the
Group has market presence in China, Hong Kong, India, Sri Lanka, Korea, the US
and UK.

 

CIMB
Group has the most extensive retail branch network in ASEAN approximately of
740 branches as at 30 June 2019. CIMB Group’s investment banking arm is also
one of the largest Asia Pacific-based investment banks, offering amongst the
most comprehensive research coverage around of 600 stocks in the region.

 

CIMB
Group operates its business through three main brand entities, CIMB Bank, CIMB
Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of
Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

 

CIMB
Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a
market capitalisation of approximately RM52.3 billion as at 30 June 2019. The
Group has around 36,000 employees located in 16 countries.

 

About
SESAMi

 

SESAMi
(Holding) (“SESAMi”) is Asia’s leading E-Procurement &
E-Marketplace service provider. Its integrated suite of cloud-based procurement
technology, domain knowledge and industry best practices adoption help creates
competitive advantage for our esteemed clients on their Strategic Sourcing and
Procure-to-Pay business processes. Since its inception in 1999, SESAMi has
built a wide range of customer portfolio and enables more than 5,000 buyer
users to process over 60,000 of E-Tenders/E-RFQs quotes and $6 billion worth of
e-POs value annually to over 20,000 local and overseas supplier base.   

 

SESAMi’s
acquisition of Singapore’s leading financing platform (Capital Match) in
November 2018 allows the company to extend a fully integrated supply chain
financing solution to corporates and their suppliers in a more timely,
automated and cost-efficient manner.

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