Tag Archives: FIN

PR Newswire

Earnd 1.0.0 Achieves SAP Certified Integration with SAP NetWeaver and Earnd.APPtoECC.OnDemandPay 1.0.0 Achieves SAP Certified Integration with Cloud Solutions

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Solution delivers standard, out of the box integration to customers through interoperability with SAP® Solutions

LONDON, Sept. 14, 2020 — Earnd Pty Ltd today announced its Earnd 1.0.0 has achieved SAP certified integration with SAP NetWeaver and Earnd.APPtoECC.OnDemandPay 1.0.0 has achieved SAP certified integration with Cloud Solutions.

The solution has been proven to integrate with SAP® solutions, providing easier implementation for payroll and technology companies. The SAP certified solution includes a pre-built SAP dashboard to see how employees are using the Earnd app, and repayments can be automatically deducted from users’ payroll with no administrative work required.

The SAP Integration and Certification Center (SAP ICC) has certified that the content package Earnd 1.0.0 integrates with SAP NetWeaver and Earnd.APPtoECC.OnDemandPay 1.0.0 integrates with SAP Cloud Platform Integration Suite

"We are extremely pleased to announce the successful launch and SAP certification of our Earnd solutions. This solution will help streamline technical integration, enabling employees to use our on-demand pay solution even quicker than ever," said Josh Vernon, Head of Earnd. "We are excited to provide the thousands of companies using SAP technology with an option to easily integrate into the Earnd platform and begin offering the benefits to their employees," said Maex Ament, Vice Chairman, Product and Technology for Earnd’s parent company, Greensill.

In addition, Earnd continues to participate in the SAP PartnerEdge® program. Through the program, partners work closely with SAP to develop and certify the technical integration of their solutions with SAP software. Integrated partner applications extend, complement and add value to SAP solutions, thereby helping mutual customers more successfully meet business needs and drive strong results.

About Earnd
Our mission is to help people take control of the money they’ve earned.  Earnd is made possible by Greensill, who have been helping small businesses get paid quicker for almost a decade. From London to San Francisco to Sydney, we’re making real-time pay work for real people.

Earnd is a trademark of Greensill.

Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in SAP’s filings with the U.S. Securities and Exchange Commission ("SEC), including its most recent annual report on Form 20-F, that could cause actual results to differ materially from expectations. SAP cautions readers not to place undue reliance on these forward-looking statements which SAP has no obligation to update and which speak only as of their dates.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

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PR Newswire

Report: U.S. Imports Trending Down 5% but China Recovers and Vietnam Climbs

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Jungle Scout’s Global Imports Report reveals international trade stats from 2015-2020, explores potential impact from COVID-19

AUSTIN, Texas, Sept. 14, 2020 — Today, Jungle Scout, the leading all-in-one platform for selling on Amazon, released a new report exploring the fast-changing landscape of global trade to the United States, and revealing the unprecedented drop in annual U.S. imports for 2020.

The 2020 Global Imports Report explores U.S. maritime import data from 2015-2020 from all countries and across all industries, and highlights major shifts in global leaders and how the international trade landscape has shifted during the COVID-19 pandemic.

Key insights include:

  • U.S. imports are projected to be down 5% for 2020.
    • Although imports to the U.S. have climbed steadily in past years, total 2020 imports are projected to be down 4.8% year-over-year by the end of 2020.
    • 143 countries had reduced exports to the U.S. between the first half of 2019 to the first half of 2020, with an average drop of 21%.
  •  China recovered from its February and March import drops and has dominated in 2020.
    • With 41% of the total share of U.S. imports, China maintains a massive lead on all 200+ countries exporting goods to the U.S. China is also the leader for every product category.
    • China had the most drastic year-over-year reduction in U.S. imports in February and March, but bounced back significantly in April to 40% year-over-year growth. In June, China was the only country to see positive year-over-year growth.
  • Vietnam has climbed the ranks of biggest suppliers to the U.S., rising from #6 in 2015 to in 2020.
    • Vietnam’s total exports to the U.S. are up 72% and its share of U.S. imports increased 65% since 2015. For comparison, nearly all other top-10 U.S. suppliers’ shares dropped in the same time period, with the exception of small increases for China, Belgium, and Thailand.
  • Higher rates of COVID-19 are associated with reduced U.S. imports.
    • China, Vietnam, and Thailand all saw a stark reduction in COVID-19 cases and related deaths in April, May, and/or June, and were simultaneously among the few countries with positive year-over-year import numbers. Comparatively, in India, when COVID-19 cases began rising in March, India’s U.S. imports dropped drastically, and both trends continued through June.
  • Countries that recovered early from 2020’s economic disruption were more likely to "bounce back" — and all are in Asia.
    • During the first half of 2020, only five of 20 countries had net-positive growth over the same period in 2019, and all are in Asia: China, Malaysia, Singapore, Thailand, and Vietnam.
    • Although Vietnam, Malaysia and Singapore saw year-over-year growth of over 100% in February and March, their increases didn’t offset the massive share of imports lost from China during those months.

"Economic disruption is nothing new for 2020, but some of the effects of the year’s turbulence are only just starting to appear," said Greg Mercer, CEO of Jungle Scout. "American small businesses and enterprises alike depend on imports, so it’s critical to keep a close eye on changes in consumer demand and global supply chains to be able to adapt."

About the 2020 Global Imports Report
All data represents United States maritime imports from January 1, 2015, to June 30, 2020 from 237 unique countries. Jungle Scout analyzed more than 63 million maritime U.S. import records, including information on the shipper and shipment, from which country and category are extracted.

About Jungle Scout
Jungle Scout is the leading all-in-one platform for selling on Amazon. Founded in 2015 as the first Amazon product research tool, Jungle Scout today features a full suite of best-in-class business management solutions and powerful market intelligence resources to help entrepreneurs and brands manage their ecommerce businesses. Jungle Scout is headquartered in Austin, Texas and supports nine global Amazon marketplaces. Read more at www.junglescout.com.

Media Contact:
Leslie Termuhlen
press@junglescout.com
PR Strategist
513-600-3353

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Global Import Report 2020
Percent year-over-year change in U.S. imports from China vs. non-China.

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Jungle Scout
Jungle Scout is the leading all-in-one platform for selling on Amazon.

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Global Imports Report 2020

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Amazon Product Finder & Market Research Tool – Find Sales Data Fast! – Homepage
PR Newswire

Hainan free trade port sets benchmark for China’s opening up

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HAIKOU, China, Sept. 14, 2020 — The construction of the Hainan free trade port has picked up steam since Chinese authorities drew up a plan for it three months ago, demonstrating China’s commitment to opening up amid the COVID-19 pandemic.

Aerial photo taken on April 3, 2020 shows a view of Hainan's Boao Lecheng pilot zone of international medical tourism in south China's Hainan Province.
Aerial photo taken on April 3, 2020 shows a view of Hainan’s Boao Lecheng pilot zone of international medical tourism in south China’s Hainan Province.

With supporting policy packages, Hainan is becoming a popular destination for foreign investment and enterprises.

So far, the free trade port has landed a total of 94 major projects including 20 foreign-funded ones, covering sectors such as tourism, modern service and high-tech industries.

"The launch of these projects will bring new growth not only to the free trade port but also to global investors," said Han Shengjian, director of the Hainan International Economic Development Bureau.

On Sept. 3, the last day of a three-day promotional event in a duty-free shop in Hainan’s resort city of Sanya, Chu Yadong scurried back and forth in the shop, picking out skincare products and makeup for his relatives.

From July 1, Hainan has increased its annual tax-free shopping quota from 30,000 yuan (about 4,389 U.S. dollars) to 100,000 yuan per person.

According to official data, sales from four offshore duty-free shops in Hainan topped 5 billion yuan from July 1 to Aug. 18, an increase of 250 percent year on year, with an average daily turnover of over 100 million yuan.

The Boao Lecheng pilot zone of international medical tourism, a platform to explore the country’s development of international medical tourism-related businesses and services, launched a special type of drug insurance on Aug. 2.

It covers 70 anti-cancer drugs from around the globe for 35 common cancers, including 49 that have yet to be approved for sale in the Chinese mainland market. The annual premium for Hainan residents is only 29 yuan per person, while the insurance covers up to 1 million yuan in drug costs.

Yan Lukai, an official with the pilot zone administration, said as an innovation of the free trade port construction, the insurance enables Hainan residents to share the policy dividends.

"Hainan is building a people-centered free trade port, which will not only make Hainan people gain a strong sense of happiness, but also share the development opportunities with people across the country as well as enterprises and skilled workers from all over the world," said Liu Cigui, Party secretary of Hainan.

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PR Newswire

Global innovators invited to participate in Taiwan’s Inaugural RegTech Challenge

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TAIPEI, Sept. 14, 2020 — Supervised by Financial Supervisory Commission (FSC), organized by Taiwan Financial Services Round Table (TFSR) and hosted by Institute for Information Industry (III) and Taiwan Depository & Clearing Corporation (TDCC) have joined forces to host Taiwan RegTech Challenge (TRC) 2020, an inaugural international challenge in Taiwan. This public-private-partnership, executed by TDCC and FinTechSpace, is supported by over 20 financial institutes across all financial sectors. After 3 months of interview, practical issues from financial supervision to industrial digital supervision are identified. TRC 2020 calls for local and international solutions for accelerating the implementation of RegTech in industries. All participating teams get the chance to be mentored by local experts and the winning prize includes resources and services valued near US$300,000. TRC 2020 opens up a common platform for solution providers to meet and consult with Taiwan regulators and matching with financial institutes. Starting today until October 16th, challenge rounds include the Preliminary, the Semi-final and the Final, which will be hosted on January 28 and 29, 2021.

Global innovators invited to participate in Taiwan’s Inaugural RegTech Challenge, an inaugural international challenge in Taiwan. TRC2020 calls for local and international solutions for accelerating the implementation of RegTech in industries. All participating teams get the chance to be mentored by local experts and the winning prize includes resources and services valued near US$300,000. Registration starts today until October 16th, the Final will be hosted on January 28 and 29, 2021.
Global innovators invited to participate in Taiwan’s Inaugural RegTech Challenge, an inaugural international challenge in Taiwan. TRC2020 calls for local and international solutions for accelerating the implementation of RegTech in industries. All participating teams get the chance to be mentored by local experts and the winning prize includes resources and services valued near US$300,000. Registration starts today until October 16th, the Final will be hosted on January 28 and 29, 2021.

Taiwan RegTech Challenge 2020 proposes the challenge and seeks for solutions in three main areas

In response to FSC’s policy, financial technology development needs and pain points are consolidated and discussed by experts via workshop. These are categorized into three main topics with seven sub-topics as the following:

Topic

Sub-topic

1

eKYC

1.1

Primary and premium information process and collection for KYC purposes like electronic identification, strong authentication, etrust services (eIDAS), identity verification, etc.

2

Monitoring, Surveillance & Data Sharing

2.1

Dynamic and automatic real-time data sharing for supervisors and regulators for surveillance relating to operational risk, market risk, sanction risk, etc.

2.2

Timely incident related information collection and analysis

2.3

Data sharing in compliance

3

Financial Crime Compliance & Fraud Detection

3.1

Suspicious transactions, accounts and behavior detection for money laundering, financing of terrorism, employee misconduct, etc.

3.2

Fraud detection

3.3

Beneficial ownership identification

To effectively promote application, TRC 2020 provides data partner/mentor and one-on-one evaluation mechanisms. Participating teams which are not familiar with financial industry in Taiwan may require relevant data or pairing up with an industry expert. During the Semi-final and the Final, TRC 2020 will provide regulations & compliance and information security/feasibility checkup to ensure information security and compliance. Furthermore, participating teams have the opportunity to obtain FSC regulatory clinic’s counseling and Azure platform provided by Microsoft Taiwan as the development environment.

30 participating teams will be selected to enter the Semi-final. After matching and counseling, 15 will be selected to enter the Final competing for the TRC awards (final 3 and 2 runner-ups) and the PoC prize, awarded by the sponsoring organizations. The prizes include:

TRC Awards

PoC Prize
  • FinTechSpace resources:
    • Rent free for a hot desk in FinTechSpace for 12
      (Final 3) / 6 months (runner-ups)
    • FinTechSpace mentoring including information security check, regulatory clinic, free Baker McKenzie regulation checkup (1 hour), and free AWS cloud space (FinTechSpace AWS JIB)*
  • 2021 FinTech Taipei:
    • Free 2 standard booths for final 3 and 1 standard booth for 2 runner-ups
    • One Demo session
    • Business and venture capital matching
  • eKYC Theme Award:
    • TWCA will issue an EAPS report for the award-winning proposals.
    • After residing at FinTechSpace, the winning team can launch its API on eKYC digital sandbox.
  • AWS
  • Bank SinoPac
  • Cathy United Bank
  • E. Sun Bank
  • Far Eastern International Bank
  • LINE Bank
  • Mega International Commercial Bank
  • Next Bank
  • Taishin International Bank
  • TDCC
  • Yunta Securities

For more information: https://www.fintechspace.com.tw/trc2020-en/

*AWS credits must be applied directly to AWS through FinTechSpace. The winner must not have received past credits more than the offered credits at this time and also meet the Terms and Conditions (see https://aws.amazon.com/awscredits) of FinTechSpace and FinTechSpace Powered by AWS.

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PR Newswire

Enjoy the Interactive Online Webcast with SIGN CHINA 2020 Shanghai Show

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SHANGHAI, Sept. 11, 2020 — In a year where face-to-face B2B trading business is hindered by pandemic, the SIGN CHINA 2020 Shanghai show (http://www.signchinashow.com/en/), organized by Informa Markets Trust, intuitively launched a B2B online webcast platform, SIGN CHINA | Live (https://live.signchinashow.com/), to provide virtual and interactive sourcing solutions to all its professional visitors and buyers home and abroad.

Similar to the physical show, SIGN CHINA | Live will bring visitors thousands of elite exhibitors from 8 industry sectors through its Digital Showroom, where visitors can watch live streaming programs from Exhibitor Webcast, look for their target suppliers via a B2B Search Engine, post their procurement enquiry for a Business 1-to-1 service and receive exhibitor recommendation through AI Algorithm Matching.

SIGN CHINA | Live User Interface
SIGN CHINA | Live User Interface

Apart from that, during SIGN CHINA physical show dates, 17-19 September, visitors can watch live streaming from the Organiser and experience an Onsite Virtual Tour to visit the booth of famous brands and new joiners. Moreover, media partners will share their insights through the streaming programs of Global Voices and Conference Webinars.

Exhibits of SIGN CHINA Show
Exhibits of SIGN CHINA Show

Both physical and virtual, SIGN CHINA 2020 Shanghai will be here to offer professional sign manufacturing equipment, materials and various practical application solutions to global community of the sign industry.

Exhibits of SIGN CHINA Show
Exhibits of SIGN CHINA Show

Please join us with free registration: https://bit.ly/3k6RRHF, either Onsite or Online for more:

signage & lightbox/ digital signage/ indoor & outdoor digital inkjet printing equipment and ink/ indoor and outdoor digital printing supplies/ digital textile printing/ retail & display solutions/ laser engraving & cutting equipment and components/ acrylic & advertising panel.

About SIGN CHINA:

Established in 2003, SIGN CHINA has been devoting itself to build a one-stop platform for the sign community, where global sign users, manufacturers and professionals can find the combination of laser engraver, traditional and digital signage, light box, advertising panel, POP, indoor & outdoor wide format printer and printing supplies, inkjet printer, advertising display, LED display, LED illuminant, OLED and digital signage all in one place. (For more, visit: www.SignChinaShow.com)

About the Organiser:

Informa Markets Trust, a joint venture of Informa Markets. Informa Markets is a leading B2B information services group and the largest B2B event organizer in the world. It has over 11,000 staff and provides business service to over 40 countries for more than 50 different industries. Over 500 leading exhibitions across the globe are organised by Informa Markets.

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PR Newswire

Manny Pacquiao set to Launch PacPay to Connect Global Influencers, Brands and Fans

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SINAGPORE, Sept. 11, 2020 — Technology startup Pac Technologies Pte Ltd and Remsea Pte Ltd, a fintech remittance firm licensed by the Monetary Authority of Singapore, have forged a strategic partnership to further both companies’ initiatives in the fintech space in Asia and beyond.

Pac Technologies, co-founded by boxing world champion Senator Manny Pacquiao, aims to launch PacPay this year. PacPay is a digital payment platform for global influencers, brands and fans, providing users with seamless, faster and safer cross-border prepaid solutions to make payments conveniently. Via PacPay’s unique rewards programme, users can connect with their favourite influencers or brands easily, participate in exclusive private events and enjoy ‘money-cannot-buy’ privileges and experiences.    

"My fans have supported me over the past decades since I started my career as a boxer. I certainly hope to have more opportunities to engage with them. Through the unique card programme, my followers will be incentivized with exclusive rewards including complimentary tickets, limited edition autographed merchandises and attractive discounts by merchants around the world," says Sen. Pacquiao.

Despite the economic downturn caused by the COVID-19 pandemic, Pac Technologies pushed for the completion of PacPay, gearing up to meet its goal to launch the digital payment platform in the last quarter of the year.

"The global landscape of payments is witnessing unprecedented growth. This is an incredible opportunity for us to enter the regional market. We are excited to work with Remsea to add value and enhance our product range by offering prepaid debit cards to the global fans of Sen. Pacquiao," says Sean Wong, PBM, CEO of Pac Technologies.

During a media conference held at Makati Shangri-La, Manila last year, Sen. Pacquiao revealed his plan to develop PacPay. Fans of the legendary boxer have since indicated strong interest, many of whom have pre-registered for the highly-anticipated card programme.

PR Newswire

Fosun RZ Capital Continues To Dig Opportunities With Global Start-ups

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BEIJING, Sept. 10, 2020 — Fosun RZ Capital is an international equity investment institution focusing on technology, the Internet, and New Consumption. Founded in 2013 in China, Fosun RZ Capital has managed billions of assets, striving to detect innovative techniques and potential markets. Fosun RZ Capital has offices in 7 regions worldwide, covering cutting-edge technological innovation in the United States and Israel and high-growth emerging markets in China, India, and Southeast Asia, creating an influential global industry-wide innovation ecosystem.

Fosun RZ Capital Continues To Dig Opportunities With Global Start-ups Under Covid-19
Fosun RZ Capital Continues To Dig Opportunities With Global Start-ups Under Covid-19

Since the expansion of the Covid-19, the public lives and working patterns have been profoundly reshaped, with short video platforms, e-commerce, and AI techniques beginning to emerge. These alterations facilitate the digitization process, making technology, the Internet, and new consumption the new hotspots.

Until now, social distancing and masks become necessary before the public get normal life. Thus, people begin to look for auto-driving cars with limited social contacts. Robosense, invested by Fosun RZ Capital, provides Smart LiDAR Sensor Systems incorporating LiDAR sensors, AI algorithms, and IC chipsets, giving cars and robots a LiDAR system with excellent information understanding. In addition to the public’s concern for health when driving, such concern also prevails in shared communities. Increased smart locks’ requests represented people’s desire to create social distance, especially between people who share community spaces. Yunding, invested by Fosun RZ Capital, primarily provides smart home security to minimize social interactions. Till now, the lock brand has reached the total sales of 1 million in January, ensuring over 7.5 million users’ home safety.

In addition, Internet showed its glamor, pushing the traditional industries to foster digitization, making Industrial Internet the breakthrough point. According to KPMG research, with 80 percent of revenue growth hinging on digital offerings and operations by 2022, IT leaders should continue transforming their operating models (Boulton, 2020). Casstime, an online procurement platform for auto spare parts, quickly dominated the market due to the offline service request platform’s incapability and low labor efficiency. Casstime then becomes the leading character in the auto aftermarket by obtaining various businesses: various auto spare parts, a SaaS management system for workshops, supply chain finance, and logistics service. In addition, online car auction platforms, such as Bochewang, also became the hotspot for investment with the new digitization wave. The enterprise, providing services including leasing non-operating vehicles, personal financial leasing, and B2B trading, now has over 600 employees and over 10k professional buyer members.

Ultimately, the coronavirus pandemic dramatically reshaped people’s consumption patterns due to their change of living habits under this special occasion. "For many of you, working out has incredible immune benefits," wrote CEO Kari Saitowitz (Olick, 2020). In a message to a group of fitness training. This increased concern for health becomes a new trend, allowing online fitness programs to expand its services. Fosun RZ Capital’s investment project Supermonkey, an online workout platform, had over 170k viewers when it went live for the first time. The platform also reached 280k viewers once and over 50 million viewers chose to replay its sessions, which signaled a publicly shared passion for home fitness. In addition, according to the data provided by the Chinese Industrial Information Website, in 2020, the number of marriage registrations in China will peak within the next five years, and marriage expenses will reach as much as 3 trillion. This new wave of getting married, combined with the increased time people spend at home with their partners gave Hunliji, a wedding planning supply chain platform, to expand its reputation and sales. Lastly, the burgeoning of online platforms for cross-border retailor shops signals a new consumption pattern due to the limited access consumers obtain for global retail. Intramirror, invested by Fosun RZ Capital, focuses on constructing an ecological network linking the global source of both high end and low-end goods. With annual revenue of 800 million yuan in 2019 and monthly GMV over 100 million CNY, Intramirror aims to become the leading cross-border fashion and luxury goods platform.

With the global market entering the post-pandemic period, Fosun RZ capital will continue to dig into technology, the Internet, and new consumption fields, while incorporating Fosun’s enterprise spirits stressing on Health, Happiness, Wealth, and ESG (Environmental, Social and Governance).

References:

  1. Lekach, S. (2020, March 25).. Retrieved September 09, 2020, from https://mashable.com/article/autonomous-vehicles-2025/
  2. Olick, D. (2020, March 21). These fitness companies are offering free online workouts during coronavirus quarantine. Retrieved September 09, 2020, from https://www.cnbc.com/2020/03/21/free-online-workouts-available-during-the-coronavirus-quarantine.html
  3. Boulton, C., 2020. Doubling Down on Digital Transformation During The Coronavirus        Pandemic. Available at: https://www.cio.com/article/3533993/doubling-down-on-digital-transformation-during-the-coronavirus-pandemic.html

 

PR Newswire

INX Crosses Over the Mandatory Minimum of $7.5M – Now Accepting BTC, ETH, USDC

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Over 3,000 retail and accredited investors registered for the INX token offering in the first 3 days

NEW YORK, Sept. 10, 2020 — INX Limited today announced it has raised over USD 7.5M in its initial public offering, exceeding the minimum requirement for the offering. The Company also starts accepting payments in Bitcoin (BTC), Ether (ETH) and USD Coin (USDC) at 10am EDT on Monday, September 14th, 2020.

INX has launched the first-ever SEC-registered security token IPO aiming to raise up to $117 million from both retail and institutional investors. INX intends to use the net proceeds raised from the sale of INX Tokens for a launch of a regulated trading platform for digital assets  including cryptocurrencies, security tokens, and their derivatives, for the establishment of a cash reserve fund, and for the continued development and operation of INX Trading Solutions, .

INX has set the offering price at $0.90 per Token with a minimum investment of $1,000. BTC/USD, ETH/USD and USDC/USD exchange rates will be determined in the manner as disclosed in the final prospectus.  More information can be found in the final prospectus and at https://token.inx.co/.

A registration statement relating to the offering of these securities was declared effective by the SEC on August 20, 2020. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. The offering is being made only by means of a prospectus. A final prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by visiting the SEC’s website or the following website (click here) or by email to INX at investors@inx.co.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is available in California*, Colorado, Connecticut, Georgia, Hawaii, Illinois, Louisiana, Michigan, Minnesota, New York, Texas*, Washington*, Wisconsin and Wyoming.

 * Subject to suitability standards as described in the "Suitability Standards" section of the final prospectus.

About INX:

INX aims to provide a regulated trading platform for digital securities and cryptocurrencies combining traditional markets expertise and a novel fintech approach. INX is led by an experienced team of business, finance, and blockchain technology experts unified by the vision of redefining the world of capital markets via blockchain technology and novel regulatory approach.

Forward-Looking Statements

Some of the statements in this press release constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "project," "anticipates," "believes," "estimates," "predicts," "potential," "intends," or "continue," or the negative of these terms or other comparable terminology. These forward-looking statements may include, but are not limited to, statements relating to our objectives, plans, and strategies; statements that contain projections of results of operations or of financial condition; statements relating to the research, development, and use of our products; and all statements (other than statements of historical facts) that address activities, events, or developments that we intend, expect, project, believe, or anticipate will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. These statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, performance, or achievements to be materially different from those anticipated by the forward-looking statements. We discuss many of these risks in greater detail in the preliminary prospectus that forms a part of the effective registration statement filed with the SEC, including under the headings "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements." You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable as of the date hereof, we cannot guarantee future results, levels of activity, performance, or achievements. Except as required by law, we are under no duty to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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Media Contact:

Alona Stein
ReBlonde for INX   
alona@reblonde.com

Related Links :

https://token.inx.co/

PR Newswire

Indonesian Logistics Tech Startup Waresix Closes c.US$100 Million Fundraising

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Summary

  • Waresix seeks to digitally transform the US$55 billion Indonesian trucking and warehousing sector.
  • Amid the COVID-19 pandemic, Waresix has scaled up rapidly to support the distribution of essential goods to over 100 cities across Indonesia and to provide logistics services to primary sectors.
  • As the world’s largest archipelago, distribution of goods is a major pain point in Indonesia. Waresix offers unique solutions to address distribution challenges, in line with the government’s aim to reduce the country’s logistics costs to 19% of GDP.

JAKARTA, Indonesia, Sept. 10, 2020 — Waresix, Indonesia’s leading logistics tech platform, today announced that it has concluded its Series B fundraising, and over the last year raised c.US$100 million from existing investors EV Growth and Jungle Ventures, and new investors, including SoftBank Ventures Asia, EMTEK Group, Pavilion Capital and Redbadge Pacific.

Waresix Team at Waresix Office
Waresix Team at Waresix Office

Waresix is the leading logistics tech platform in Indonesia in the trucking and warehousing segments. Trucking services, which form the majority of Waresix’s business, is focused on first-mile and mid-mile intercity shipments. Waresix’s deep operational involvement as a provider of managed services enables it to identify key value and efficiency-generating solutions for its clients beyond passive demand and supply matching. Waresix’s solutions, including consolidation, back-haul optimization and hub-and-spoke distribution, can achieve 50% higher truck utilization than traditional shippers, and have contributed towards Waresix rapid scaling, while generating positive net income. Waresix has been profitable on a net income basis since June 2019.

Waresix now serves more than 250 marquee corporate clients from diverse industries, including clients within the commodities, fast-moving consumer goods, industrial consumables, infrastructure, and retail sectors. Notable customers include Unilever, Indofood, Siam Cement Group, Wings, JD.ID and numerous other MNCs. Waresix’s logistics ecosystem spans over 40,000 trucks and 375 warehouses in more than 100 cities and towns across Indonesia. Waresix’s integration with key logistics facilities, such as Indonesia’s National Ports, has allowed the company to expand its reach beyond Java and Sumatra, to all of Indonesia’s main islands.

Waresix Truck
Waresix Truck

Waresix has been developing a unified operating system-like platform for its partners, with the goal of improving partners’ daily operations pertaining to their vendors and customers. The platform further provides a compact, single view of partners’ consignments across transport channels and transit warehouses. Waresix’s platform distinguishes itself from other logistics companies that primarily focus on building passive load-board and listings, to match supply and demand. Waresix continues to tackle core logistical challenges by going beyond matching supply with demand through cultivating a managed-service ecosystem. This has positioned Waresix to address challenges and generate enduring solutions faced by its demand and supply partners.

Despite disruptions brought in by the COVID-19 pandemic, the company has continued to achieve remarkable results, with rapid growth in its first-mile and mid-mile trucking services while supporting the efficient flow of essential goods and the livelihoods of thousands of truck drivers across the country.

At its core, Waresix believes that logistics, being a major bottleneck in the fast-growing Indonesian economy, provides ample opportunity for innovation within the e-trucking sector. Furthermore, the Indonesian government continues to invest in the country’s physical infrastructure, which serves as further sector catalysts. With technology and a customer-first mindset deeply embedded in Waresix’s DNA, Waresix is well-placed to propel efficiency within Indonesia’s complex logistics ecosystem.

Andree Susanto, CEO of Waresix, said, "We are excited to on-board a group of high-quality long-term investors and partners that have committed to support Waresix in our journey to be the new engine for trade and commerce growth in Indonesia. The capital will be invested to develop the most robust logistics technology infrastructure in South East Asia, and further build out our world-class team to help us seize a large market opportunity."

Edwin Wibowo, CFO of Waresix said, "We are not just driven by technology, but also driven by a passion to solve real problems, and innovating via technology. We have proven this in the last two years, which is why our clients love us and our business has continued to scale until today."

About Waresix

Waresix is a tech-enabled platform offering logistics services and solutions to customers in a more efficient and economic manner. It connects shippers and businesses with available transporters, trucks and warehouse space across Indonesia, providing better transparency, quality of service, and improving income for asset owners. Its expansive ecosystem now reaches over 40,000 trucks and 375 warehouse operators across the archipelago.

The archipelagic makeup of Indonesia has resulted in one of the highest logistics costs in Asia, accounting for nearly a quarter of the country’s US$1 trillion gross domestic product (GDP). This high logistics cost not only hampers Indonesia’s industrial competitiveness but also adds to Indonesian SME’s cost of doing business. Waresix seeks to address challenges and generate enduring solutions for its supply and demand partners in the US$240 billion Indonesian logistics market.

You can read more about us at waresix.com

Photo – https://photos.prnasia.com/prnh/20200910/2912421-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200910/2912421-1-b?lang=0

Related Links :

http://waresix.com

PR Newswire

ChipMOS REPORTS AUGUST 2020 REVENUE

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HSINCHU, Sept. 9, 2020 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today reported its unaudited consolidated revenue for the month of August 2020.  All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.37 to US$1.00 as of August 31, 2020.

Revenue for the month of August 2020 was NT$1,902.5 million or US$64.8 million, an increase of 0.8% as compared to July 2020 and a decrease of 0.5% compared to August 2019.  The Company noted it is benefiting from increased DDIC and bumping demand driven by new HD-grade smartphone models, along with large- and mid-size panels to meet TDDI, TV, notebook tablet growth, respectively.  Wafer test capacity of high end platform for DDIC is almost fully utilized due to increased demand combined with required longer TDDI test times.

Consolidated Monthly Revenues (Unaudited)

August 2020

July 2020

August 2019

MoM Change

YoY Change

Revenues

(NT$ million)

1,902.5

1,886.6

1,912.2

0.8%

-0.5%

Revenues

(US$ million)

64.8

64.2

65.1

0.8%

-0.5%

About ChipMOS TECHNOLOGIES INC.:

ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and NASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries. 

Forward-Looking Statements

This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors, including the potential impact of COVID-19.  Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange commission (the "SEC") and in the Company’s other filings with the SEC.

Contacts:

In Taiwan

Jesse Huang

ChipMOS TECHNOLOGIES INC.

+886-6-5052388 ext. 7715

IR@chipmos.com

In the U.S.

David Pasquale

Global IR Partners

+1-914-337-8801

dpasquale@globalirpartners.com

Related Links :

https://www.chipmos.com