Monthly Archives: October 2020

PR Newswire

Baidu Announces Proposed Debt Offering

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BEIJING, Oct. 6, 2020 — Baidu, Inc. (NASDAQ: BIDU) ("Baidu" or the "Company"), a leading search engine, knowledge and information centered Internet platform and AI company, today announced that it has filed a preliminary prospectus supplement with the United States Securities and Exchange Commission (the "SEC") under an automatic shelf registration statement on Form F-3, pursuant to which the Company proposes to sell senior notes. The Company intends to use the net proceeds from the offering to repay existing indebtedness.

The joint bookrunners of the offering are Goldman Sachs (Asia) L.L.C., BofA Securities, Inc. and J.P. Morgan Securities LLC.

This notice is not an offer of the securities for sale in the United States of America. Any public offering of these securities in the United States will be made by means of a prospectus that contains detailed information about the issuer, which prospectus may be obtained free of charge from EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send an investor the prospectus if the investor requests it by calling Goldman Sachs & Co. toll-free at 1-866-471-2526, BofA Securities, Inc. at 1-800-294-1322 or J.P. Morgan Securities LLC at 1-212-834-4533. A registration statement relating to these securities has been filed with the SEC and has become effective under the U.S. Securities Act of 1933.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been and will not be registered under the applicable securities laws of any jurisdiction outside of the United States of America.

About Baidu

Baidu, Inc. is a leading search engine, knowledge and information centered Internet platform and AI company. The Company’s mission is to make the complicated world simpler through technology. Baidu’s American depositary shares ("ADSs")  trade on the Nasdaq Global Select Market under the symbol "BIDU." Currently, ten ADSs represent one Class A ordinary share.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," "is/are likely to" and other similar expressions. Among other things, the description of the proposed offering in this announcement contains forward-looking statements. Baidu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Baidu’s proposed use of proceeds from the sale of debt securities; its growth strategies, its future business development, including development of new products and services; results of operations and financial condition,  its ability to attract and retain users and customers and generate revenue and profit from its customers; competition in the Chinese Internet search market; competition for online marketing customers and other businesses in which it engages; changes in Baidu’s revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including those relating to intellectual property rights; the expected growth of the Chinese language Internet search market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and Internet search providers and general economic conditions in China, Japan and elsewhere. Further information regarding these and other risks is included in Baidu’s annual report on Form 20-F, Form F-3 and other documents filed with the SEC. Baidu does not undertake an obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.

Contacts

Investors Relations, Baidu, Inc.
Tel: +86-10-5992-8888
Email: ir@baidu.com  

 

Related Links :

http://www.baidu.com

PR Newswire

CoverMyMeds Lauded by Frost & Sullivan for Seamlessly Connecting the Healthcare Network with Its Industry-leading ePA Platform

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CoverMyMeds’ platform streamlines prior authorization processes and reduces the approval time from days to mere minutes

SANTA CLARA, California, Oct. 6, 2020 — Based on its recent analysis of the North American prior authorization (PA) solutions market, Frost & Sullivan recognizes CoverMyMeds with the 2020 North America Product Leadership Award. With its innovative electronic prior authorization (ePA) solution, physicians can submit PA requests up to three times faster than with conventional manual, phone, and fax methods. Its suite of medication access solutions seamlessly connect the healthcare network to help reduce prescription abandonment and improve time-to-therapy.

CoverMyMeds
CoverMyMeds

CoverMyMeds’ integrated and web accessible PA platform streamlines the process for healthcare stakeholders, including providers, payers, pharmacy, and life sciences companies. Its network includes approximately 75% of electronic health records (EHRs), 96% of pharmacies, 750,000 providers, and most health plans. With its novel product, it decreases PA determination times from days to mere minutes. Through continuous innovations, it also provides real-time prescription decision support and patient empowerment solutions.

"The cumbersome, traditional prior authorization process is a clear medication access barrier with an estimated 37% of medications requiring PA being abandoned each year.1 CoverMyMeds is helping to solve this by streamlining the complex process electronically," said Pavel Zhebrouski, Best Practices Research Analyst at Frost & Sullivan. "Their platform is the most reliable in the industry, securely and electronically submitting PA requests between pharmacies, providers and health plans. By using CoverMyMeds, determination time is greatly decreased and can lead to an 80% higher dispense rate for prescriptions in some cases.2"

CoverMyMeds also presents an innovative, tech-driven approach to patient support services that streamlines patient access to specialty therapies and enables end-to-end visibility into the patient journey. Its ability to work across the entire patient journey and its business partnerships with all healthcare stakeholders makes it unique in the market. It leverages various methods such as user interviewing, focus groups, co-creation, user testing of its design concepts, quantitative studies, and design thinking methods with all stakeholders to ensure product relevance and customer value.

"As part of the McKesson Corporation, CoverMyMeds has been able to continue growing and reinventing healthcare for millions of patients who need better access to medications," noted Daniel Ruppar, Consulting Director at Frost & Sullivan. "Its responsiveness to both the industry and customer challenges allows it to create best-in-class customer value and achieve sustained leadership in the PA space."

Each year, Frost & Sullivan presents this award to the company that develops a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

1 – CoverMyMeds Data on File, 2020
2 – CoverMyMeds data on file, based on two months of paid and rejected data from PioneerRx, 2019

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Kristen Moore
P: 210.247.3823
E: kristen.moore@frost.com

About CoverMyMeds

CoverMyMeds, part of McKesson’s Prescription Technology Solutions, is a fast-growing healthcare technology company that has been recognized as a "Best Place to Work" by Glassdoor and a "Best Company to Work For" by FORTUNE. CoverMyMeds’ solutions help patients get the medications they need to live healthy lives by seamlessly connecting the healthcare network to improve medication access; thereby increasing speed to therapy and reducing prescription abandonment. CoverMyMeds’ network includes 75 percent of electronic health record systems (EHRs), 96 percent of pharmacies, 750,000 providers and most health plans and PBMs. Visit www.covermymeds.com for more information.

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PR Newswire

Rarekind Unveils its New Glittering Eye Makeup Products on Amazon

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NEW YORK, Oct. 6, 2020 — Rarekind, a professional makeup brand from the global beauty company Amorepacific, has expanded its product line with the latest Ready to Crush Shadow on Amazon, boasting bold and unique style with the newest textures and colors. The new beauty offerings from Rarekind will have the user shimmering with five gorgeous sparkling shades.

Rarekind introduces Ready To Crush Shadow on Amazon
Rarekind introduces Ready To Crush Shadow on Amazon

Entering the US online market in August, Rarekind, the winner of Allure Magazine’s "Best of Beauty Award" and "Editor’s Pick" in Korea, presents an overwhelmingly glamorous glitter for those who are fed up with the usual blandness of other kinds of glitter. The 5 shades and shadows come in a shimmering finish that will make eyes pop. When the glittery shadows are applied to cheek bones and collarbones, their light and natural glow can make entire face look lifted.

As a brand with environmentally conscious, the new eyeshadow collection has been formulated without any animal oil, animal ingredients and any ingredients that have been tested on animals.

Rarekind Ready To Crush Shadow：

5 colors available-01 New Rules, 02 Lucky Punch, 03 My Match, 04 Straight, and 05 Hit

  • No caking sparkling glitter
  • As much sparkle as a user wants
  • Long-lasting glitter

Rarekind Ready To Crush Shadows are now available on US Amazon.

About Rarekind

Rarekind is a professional color makeup brand launched by Korea’s leading beauty company Amorepacific in 2018. The brand is for those who have outstanding attraction, uniqueness and who can deliver their own story with compelling identity. Rarekind aims to show "makeup doesn’t have to be boring or neat — it can be playful and expressive."

For more information:

Official Site: www.rarekind.com
Social Media: https://www.instagram.com/rarekind_official/

 

Related Links :

http://www.rarekind.com/

PR Newswire

iQIYI Provides Update on Its Internal Review

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BEIJING, Oct. 5, 2020 — iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today provided an update on the status of its internal review. As previously disclosed, shortly after the publication of a report issued by the short-seller firm Wolfpack Research in April 2020 (the "Wolfpack Report"), the Company commenced an internal review into certain allegations raised in the Wolfpack Report (the "Internal Review"). The Internal Review is overseen by the Company’s independent audit committee, which has been assisted in its efforts by professional advisors, including a Big 4 accounting firm that is not the Company’s auditor. The Internal Review within the agreed scope has been substantially completed and did not uncover any evidence that would substantiate the allegations.

The Company will continue to cooperate with the SEC in connection with the ongoing SEC investigation, as previously disclosed, including providing certain documents and records related to the Internal Review and other related information, subject to compliance with applicable law. The Company is unable to predict the duration, outcome or impact of the SEC investigation.

About iQIYI

iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI’s platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, professional user generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency, online literature and e-commerce etc.

For more information, please contact:

Investor Relations
iQIYI, Inc.
+86 10 8264 6585
ir@qiyi.com

Related Links :

http://www.iqiyi.com

Accessories, Health, Lifestyle, Mobile, News

Garmin Launches the Venu SQ in Malaysia – Affordable Garmin for Everyone!

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Garmin has always been known for their very premium smartwatches. Some do not even consider their stuff ‘smartwatches’. They argue that the Garmin watches are more fitness trackers than anything. Whichever camp you come from though, we still like the brand and the devices they make.

As smartwatches and fitness trackers go, you cannot go wrong with a Garmin watch. Whichever your choice is, you are getting a smartwatch cum fitness tracker that will last you days at a time, while being reliable and durable enough to be in the harshest of weathers. There is an issue however; they are not exactly affordable. Garmin has an answer to that.

Source: Garmin

Welcome to the Garmin Venu SQ, SQ for ‘Square’. Garmin launched the Venu smartwatch last year and it became one of our favourite smartwatches very quickly. Its pretty interface and good looks are big contributors to our preference, of course. But round is not the only format people want in their smartwatch. Some people still prefer going for a square watch face on their smartwatch thanks to the larger perceived display real estate. That is the Garmin Venu SQ, for the ones that wants a square-faced smartwatch from Garmin.

The Garmin Venu SQ’s square-ish display measures at 1.3-inch and is protected by a Corning Gorilla Glass 3 layer. The square LCD display pushes 240 by 240 pixels , which is not Full HD per se, but is still quite a pretty looking crystal display. You can use always-on mode on the Garmin Venu SQ as well, if you want to. Of course, always-on display will consume a little bit more battery life.

Source: Garmin

To be fair, not much else is known about the Garmin Venu SQ’s internals. We do know that the Venu SQ is just as capable as its more premium round-faced sibling though. It is also made with the same durable fiber-reinforced polymer material that the rounded Garmin Venu is built with. Inside is also all the same sensors that makes the Garmin Venu SQ as capable as any of its siblings.

You still have GPS capability within the watch with compass capabilities so that you can never get lost with the Garmin Venu SQ, in your adventures. In your adventures as well, you would appreciate the 5 ATM water resistant rating, just in case you need to get a little wet. A battery life that would last you up to 6 days at a time could also prove essential when you need it (14 hours on GPS mode without music). As a bonus, you do not need to keep it charged daily.

  • Source: Garmin
  • Source: Garmin
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Of course, the Garmin Venu SQ still has all the right sensors at the back of the watch as well. The sensors can monitor your heart rate, your blood oxygen levels, and more. It can even detect your swim stroke types, and even understand your sleep cycles.

The Venu SQ is now available in Malaysia in two variants. You can get a regular Venu SQ and a Venu SQ Music with Spotify and music storing capabilities built-into the device. The Venu SQ starts at MYR 999 and is available in Shadow Gray/Slate, White/Light Gold, and Orchid/Metallic Orchid colour options. The Venu SQ Music Edition will go for MYR 1,250 and is available in Black/Slate, Light Sand/Rose Gold, Navy/Light Gold, and Moss/Slate colour combinations.

PR Newswire

Made-in-China.com to appear on 128th Canton Fair B2B cross-border e-commerce zone

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NANJING, China, Oct. 5, 2020 — Recently, the COVID-19 is still spreading around the world that brings the world into post epidemic time. After the 127th China Import and Export Fair (Canton Fair) being held online, the 128th Canton Fair will be held online continually for 10 days which from October 15th to 24th. The spokesperson of China’s Ministry of Commerce said that "To hold the Canton Fair online is conducive to further playing its role as an all-round open platform for foreign trade, promoting the stable and healthy development of foreign trade in a time of normalized epidemic prevention and control, and to ensuring an unimpeded foreign trade industry chain and supply chain. We will work hard to provide better and more convenient services for the exhibitors and buyers. Chinese and foreign enterprises and buyers are welcome to actively participate in the exhibition and do business".


The 128th virtual Canton Fair will set up a cross-border e-commerce zone dedicated to promoting the integrated pilot zones. Made-in-China.com, as the leading comprehensive third-party B2B e-commerce platform in China, has been successfully selected as one of the official partners to have a seat in this cross-border e-commerce zone. Made-in-China.com will hold online simultaneous events from October 15th to 24th, which will create digital, immersive and convenient sourcing experience for global buyers.

With a focus on global trade and e-commerce, Made-in-China.com has been dedicated to developing technologies about SMART EXPO since 2016. Combining the advanced technologies like VR, 360 virtual tour and live streaming, with abundant experiences of holding expos, Made-in-China.com created the original mode of "internet + expo" in China’s exhibition field while is still keeping improving and upgrading it to a higher level.

And this time, Made-in-China.com has upgraded SMART EXPO signally. The new services like "Global Live Streaming", "Buyers’ Choice" and "Online Trading Hall" together with "Online Meeting" and "Instant Multilingual Translation" these existing functions can bring buyers an immersive experience that inquiring, promoting and trading in real-time. Moreover, Made-in-China.com prepares bonds of e-coupon for buyers to use when purchase the products in Online Trading Channel, making them get the real benefits in this difficult post epidemic time.

Predictably, the 128th Canton Fair being hold online would further activate the global trade, create new market channel, energize the global industry chains and stabilize the global supply chains. "This time, Made-in-China.com will focus on ‘Otaku Economy’ which is the emerging demand of global market, and providing huge quantities of products and detailed service for global buyers. We welcome all global buyers visit our platform at the 128th Canton Fair B2B cross-border e-commerce zone," said Li Lei, the CEO of Made-in-China.com.

PR Newswire

Announcement of Memorandum of Understanding for a Business Alliance of 5G/AI Related Businesses

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TOKYO, Oct. 5, 2020 — Bit One Group Co., Ltd. (hereinafter referred to as "the Company" has a business alliance (hereinafter referred to as "this business alliance") with Viettel Business Solutions Corporation (hereinafter referred to as "Viettel BS") for businesses related to the integration of 5G and AI technology (hereinafter referred to as "5G/ AI-related businesses"). Bit One Group is pleased to announce that the Company has signed a memorandum of understanding (hereinafter referred to as "this memorandum") for starting negotiations and discussions to conclude the agreement (hereinafter referred to as "this business alliance agreement").

1.          Purpose of this Memorandum

As stated in the "Financial Results for the Fiscal Year Ending February 2020 (Japanese Standard)" released on the April 10, the Group will implement 5G/ AI-related businesses for the current fiscal year (1st March 2020 – 28th February 2021) as a new management policy. Bit One Group has stated that the Company will do the best to launch it during the period.

Under such circumstances, the Company has signed this memorandum of understanding with Viettel BS, a branch of Viettel Telecom Group (Vietnam Communication), in order to enter into negotiations and discussions regarding this business alliance.

2.          Details of this Business Alliance

Viettel BS and Bit One Group will be involved in (i) sales of communication equipment, design and implementation of applying AI to telecommunications networks; (ii) smart city construction – 5G and AI-based online (IoT) services; (iii) distribution of IoT equipment; (iv) trading of data and voice business; (v) the Company plans to form a business alliance for various 5G/AI-related businesses that the Company aims to lunch, such as construction and operation of Internet data centers, etc. The details of this business alliance will be negotiated between the parties and a legally binding business alliance agreement will be concluded.

3.          Viettel BS Overview

1. Name

Viettel Business Solutions Corporation – Branch of Viettel Telecom
Group

2. Location

No.1 Tran Huu Duc street, My Dinh 2 ward, Nam Tu Liem District,
Hanoi, Vietnam

3. Title and Name of
Representative

Director Nguyen Manh Ho

4.Business Description

B2B ICT（Information and Communication Technology）solution business

4.          Schedule

The Company and Viettel BS will discuss with each other to reach an agreement on the detailed terms of this business alliance promptly after this memorandum.

[Bit One Group Co., Ltd. Company Profile]

  • Company Name: Bit One Group Co., Ltd. (TSE Second Section Code No. 2338)
  • Location: 1-10-9 Kudankita, Chiyoda-ku, Tokyo
  • Representative: Representative Director Shao Yun
  • Initial Capital: 2,497,110,000 yen
  • Business: Content Development and Distribution
  • Description: Software Contract Development
  • Company URL: https://www.bitone-g.co.jp/

Related Links :

https://www.bitone-g.co.jp/

PR Newswire

Kikitrade, a licensed crypto social trading platform accelerating the mass adoption of cryptocurrency, is launched

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HONG KONG, Oct. 5, 2020 — Cryptocurrency has become one of the most prominent asset classes of the 21st century. Yet its complexity, volatility and steep learning curve has deterred many everyday people from enjoying its exponential growth. Kikitrade, launched by KKTD Technologies Limited, caters to the mass market through a mix of technological and user experience innovations, and a simple yet powerful product.

Kikitrade, a licensed crypto social trading platform accelerating the mass adoption of cryptocurrency, is launched
Kikitrade, a licensed crypto social trading platform accelerating the mass adoption of cryptocurrency, is launched

 

Commission-free crypto app designed for everyday investors

When Bitcoin was launched in 2009, it was meant for the mass. Despite the large market cap and liquidity it has built up over the decade, most investment platforms today were built to serve the professional traders, speculators and early crypto adopters.

Kikitrade is here to re-invent the crypto investing experience that the world grew custom to. After comparing and trying hundreds of investment apps worldwide, the company spent 1 year stealthily crafting Kikitrade.

With arguably the best user experience for the mass market, Kikitrade empowers crypto observers, millennials, GenZ, women and non-finance professionals to interact with digital assets with as little as US$1 at users’ fingertips. Kikitrade promises users zero commission and no hidden transaction fees, now and forever. For the idle funds, users can even make a deposit in the saving account to earn up to 5.5% annual interest payout. 

Proprietary community and social trading features

Kikitrade is not only an investment platform , but also a vibrant community of like-minded individuals seeking financial knowhow and well-being, making it one of the best community and education apps in crypto. Users can not only view, comment, and follow other users, but also participate in polls, games and Q&As. Moreover, users can access a personalised flow of market moving news aggregated from major media outlets, visualised trading indicators, as well as free tutorial videos.

Last but not least, Kikitrade’s ground-breaking Heroes function allows users to compare the historical returns and real-time positions of the community’s best traders meticulously verified by Kikitrade. Through the proprietary, battle-tested social trading engine, users can seamlessly copy every single move of the Heroes they selected, making the top-performing traders work for you in the crypto world. 

World-class standard of compliance, reliability and security

As one of the very few companies to receive a crypto exchange license in Australia, Kikitrade is complying with one of the world’s highest standards of KYC, AML, asset segregation, custodian, auditing, company governance, and clients’ protection.

Protecting clients’ assets is Kikitrade’s number 1 priority.  To provide the safest and industry-grade wallet, Kikitrade partners with Swiss-based crypto bank for insured custodian solution and Israeli-based cybersecurity firm for penetration tests. Kikitrade has assembled a team of senior engineers, financial architects and blockchain specialists, averaging 10 years of working experience in Alipay, Meituan, ByteDance, Credit Suisse, Macquarie and Goldman Sachs. The team is proud to create Kikitrade and is committed to growing with users.

About Kikitrade

Kikitrade is a commission-free digital assets investment platform that is fun to use and easy to trade. With unique designs and proprietary technologies, Kikitrade is the most friendly gateway for the millennials and everyday people to start their crypto journey.

About EVG

EVG, co-founder of Kikitrade, is an investment and incubation holding focusing on the mass adoption of digital assets. Backed by a consortium of renowned conglomerates, private equity funds and family offices across Greater China, Korea, Japan, Australia and Southeast Asia, EVG has participated in some of the world’s most famous Fintech and blockchain companies.

Media Contact:

Sky Lai
+852 6899 9765
sky@kikitrade.com

Ruby Cheng
+852 5614 4650
rcheng@kikitrade.com

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PR Newswire

AmBank Group implements Kamakura Risk Manager for Basel 3 LCR and NSFR

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SINGAPORE, Oct. 5, 2020 — Kamakura Corporation, the global leader in advanced analytics for enterprise risk management, is pleased to announce that AmBank Group has successfully implemented Kamakura Risk Manager (KRM) to manage compliance with Basel III Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) requirements. AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia.  

The Basel Committee on Banking Supervision reformed the LCR and NSFR ratios in response to the financial crisis to ensure that banks hold sufficient reserves of high-quality liquid assets (HQLA) and have adequate stable funding, to promote a more resilient banking sector.

Financial institutions want to do more by not only complying to regulations. They would like to integrate compliance functions with their enterprise risk management systems in a manner that is transparent and flexible. The enhanced Basel Committee rules have given them an opportunity to implement best practice solutions leveraging sophisticated technologies including big data analytics and scalability.

As one of Malaysia’s leading financial institutions, AmBank needs a solution that would meet its needs both today and in the future. It also requires timely and professional implementation. Kamakura’s software solution and subject matter expertise satisfies the bank’s requirements at every level.

Jamie Liang, Chief Financial Officer
Jamie Liang, Chief Financial Officer

Jamie Ling, Group Chief Financial Officer, AmBank Group said "Kamakura’s understanding of the local regulatory requirements is the key differentiator in our decision to select KRM. This is also based on the experience they shared with us and KRM’s capabilities of not just meeting the minimum requirements of regulatory reporting, but also the ability to forecast our LCR requirements in daily and stress test scenarios. We have also deployed KRM’s sandbox engine and analytics capabilities in our trading room which allow our traders to better manage the liquidity needs of our operations."

Clement Ooi President of Asia Pacific Operations
Clement Ooi President of Asia Pacific Operations

Dr. Clement Ooi, Kamakura’s President of Asia Pacific Operations, said, "In today’s ever-changing regulatory landscape, meeting minimum regulatory requirements alone is no longer a viable strategy for banks. AmBank, like other financial institutions, is looking for a long-term solution that also addresses regulatory requirements as they continue to evolve. Since the introduction of the Basel II Capital Framework in 1988, almost all new guidelines have called for robust cash flow calculations. Once KRM is implemented, the banks can select the appropriate module with efficient implementation plan. This has allowed AmBank to streamline project resources, optimise implementation time, and meet new regulatory requirements more quickly."

Wilson Yap SVP Head of Professional Services
Wilson Yap SVP Head of Professional Services

Wilson Yap, Kamakura’s Senior Vice President and Head of Professional Services, said, "We enjoy a long-term relationship with all our clients and know how to listen and respond to their needs. AmBank has been a client since 2010, and we have grown along with it. AmBank has deployed KRM Version 10, which was built from the ground up in 2018 and is now deployed globally. Version 10 offers faster processing speed, an intuitive user interface, and better accuracy. It is a complete enterprise risk management solution for banks and will help them meet all future regulatory requirements using a single database."

About AmBank Group

AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia. We have over three million customers and employ over 8,000 people.

The Group was listed on the Main Market of Bursa Malaysia in 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of around RM9.0 billion and assets of RM169.2 billion as at 31 March 2020.

AmBank Group serves over three million individual and corporate customers. It provides services in wholesale banking, retail banking, business banking, investment banking and related financial services which include Islamic banking, underwriting of general insurance, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.

For more information, please visit ambankgroup.com 

For more information, please contact Syed Anuar Syed Ali, Executive Vice President, Group Corporate Communications and Marketing, AmBank Group at Tel: 03-2036 1703 or email at sasa@ambankgroup.com.

About Kamakura Corporation

Founded in 1990, Honolulu-based Kamakura Corporation is a leading provider of risk management information, processing, and software. Kamakura was recognized as a category leader in the Chartis Report, Technology Solutions for Credit Risk 2.0 2018.  Kamakura was named to the World Finance 100 by the editor and readers of World Finance magazine in 2017, 2016 and 2012. In 2010, Kamakura was the only vendor to win two Credit Magazine innovation awards. Kamakura Risk Manager, first sold commercially in 1993 and now in version 10.0.3, is the first enterprise risk management system for users focused on credit risk, asset and liability management, market risk, stress testing, liquidity risk, counterparty credit risk, and capital allocation from a single software solution. The KRIS public firm default service was launched in 2002. The KRIS sovereign default service, the world’s first, was launched in 2008, and the KRIS non-public firm default service was offered beginning in 2011. Kamakura added its U.S. Bank default probability service in 2014.

Kamakura has served more than 330 clients with assets ranging in size from $1.5 billion to $3.0 trillion. Its risk management products are currently used in 47 countries, including the United States, Canada, Germany, the Netherlands, France, Austria, Switzerland, the United Kingdom, Russia, Ukraine, South Africa, Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Singapore, Sri Lanka, Taiwan, Thailand, Vietnam, and many other countries in Asia, Europe and the Middle East.

To follow risk commentary by Kamakura on a daily basis, please follow:

Kamakura CEO Dr. Donald van Deventer (www.twitter.com/dvandeventer)
Kamakura President Martin Zorn(www.twitter.com/riskmgrhi)  
Kamakura’s official twitter account (www.twitter.com/KamakuraCo).

For more information, please contact:

Kamakura Corporation
2222 Kalakaua Avenue, Suite 1400, Honolulu, Hawaii 96815
Telephone: 1-808-791-9888
Facsimile: 1-808-791-9898
Information: info@kamakuraco.com
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BorgWarner Completes Acquisition of Delphi Technologies

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– Strengthens Electronics and Power Electronics Products, Capabilities and Scale

– Positions BorgWarner for Greater Growth as Electrified Propulsion Systems Gain Momentum

– Enhances Key Combustion, Commercial Vehicle and Aftermarket Businesses

AUBURN HILLS, Michigan, Oct. .3, 2020 — BorgWarner Inc. (NYSE: BWA) today announced it has completed its acquisition of Delphi Technologies. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take advantage of future propulsion migration.

"We are pleased to complete our acquisition of Delphi Technologies," said Frédéric Lissalde, President and CEO, BorgWarner. "Through this combination, BorgWarner is  even better positioned with a more comprehensive portfolio of industry-leading propulsion products and systems across combustion, hybrid and electric vehicles.  We expect that the combination will also strengthen our commercial vehicle and aftermarket businesses. We welcome Delphi Technologies’ colleagues around the world to the BorgWarner team and are excited about the opportunities we have together to address market trends towards electrification. I am proud of our global workforce, including our integration planning teams, for driving the business forward as we managed through the pandemic and laying a strong foundation for a seamless integration. I have great confidence that we will realize what we believe are significant benefits of this combination for our shareholders, customers and suppliers."

Compelling Strategic and Financial Benefits: 

Bringing BorgWarner and Delphi Technologies together is expected to:

  • Strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take advantage of future propulsion migration. Delphi Technologies brings industry leading power electronics technology and talent, with an established production, supply and customer base. The combined company will offer customers a suite of integrated and standalone offerings of power electronics products (including high voltage inverters, converters, on-board chargers and battery management systems) and capabilities (including software, systems integration and thermal management).
  • Enhance BorgWarner’s combustion, commercial vehicle and aftermarket businesses. Delphi Technologies’ breadth of combustion propulsion products complements BorgWarner’s innovative portfolio, which is focused on clean technologies to increase efficiency and performance of modern combustion vehicles. Adding Delphi Technologies’ commercial vehicle and aftermarket business results in more balance across light vehicles, commercial vehicles and the aftermarket.

    Global aftermarket customers will continue to benefit from an extensive portfolio of BorgWarner and Delphi Technologies OE-quality aftermarket parts, services, diagnostic tools and test equipment. As a brand of BorgWarner, Delphi Technologies Aftermarket will maintain its brand identity, and customers across the world will be able to rely on their trusted contacts for sales and customer service support.

The completion of the transaction follows approval by Delphi Technologies’ shareholders, receipt of required regulatory approvals, the satisfaction of certain conditions relating to indebtedness of Delphi Technologies, and the satisfaction or waiver of customary closing conditions. In connection with the close of this transaction, Delphi Technologies common stock will cease to be traded on the New York Stock Exchange.

Conference Call and Presentation Materials

At 9:30 a.m. ET on Thursday, October 8, 2020, a brief conference call with additional details on the acquisition will be webcast at: http://www.borgwarner.com/en/Investors/default.aspx.  Additionally, an acquisition presentation will be available at http://www.borgwarner.com/en/Investors/default.aspx.

About BorgWarner

BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. Building on its original equipment expertise, BorgWarner also brings market leading product and service solutions to the global aftermarket. With manufacturing and technical facilities in 99 locations in 24 countries, the company employs approximately 48,000 worldwide. For more information, please visit borgwarner.com.

Statements in this news release (this "Release") may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management’s current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact contained or incorporated by reference in this Release that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies" in Item 7 of our most recently-filed Annual Report on Form 10-K ("Form 10-K"), are inherently forward-looking.  All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.  Forward-looking statements are not guarantees of performance, and the Company’s actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.

You should not place undue reliance on these forward-looking statements, which speak only as of the date of this Release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements.  These risks and uncertainties, among others, include: failure to realize the expected benefits of the acquisition of Delphi Technologies; failure to promptly and effectively integrate Delphi Technologies’ businesses; the potential for unknown or inestimable liabilities relating to the acquired business; our dependence on automotive and truck production, both of which are highly cyclical; our reliance on major OEM customers; commodities availability and pricing; supply disruptions; fluctuations in interest rates and foreign currency exchange rates; availability of credit; our dependence on key management; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims; future changes in laws and regulations, including, by way of example, tariffs, in the countries in which we operate; and other risks noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently-filed Form 10-K. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this presentation to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.

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