Indonesian BFSI IT Summit: Revolutionizing Finance Through Digital Transformation

JAKARTA, May 8, 2024 – (ACN Newswire) – In the pursuit of advancing financial inclusion and fostering digital transformation, a prominent financial institution in Indonesia embarked on a comprehensive journey of innovation. Collaborating with leading IT solution providers, the institution implemented various technology-driven initiatives to democratize access to financial services and promote inclusive growth.

Among these initiatives was the development of a mobile banking app, providing customers with seamless access to a wide range of banking services, from fund transfers to account management, all at their fingertips. Leveraging data analytics and AI insights, personalized financial solutions were tailored to meet the diverse needs of customer segments, including micro-loans for small businesses and micro-insurance products for low-income individuals. Additionally, the institution pioneered the deployment of agent banking networks in remote areas, establishing convenient access points for underserved communities.

The impact of these digital innovations has been transformative, contributing to significant improvements in financial inclusion, economic empowerment, and social development across the country. By bridging the gap between the institution and its customers, millions of Indonesians have been empowered to participate in the formal financial system, unlocking opportunities for economic growth and prosperity.

As a trailblazer in the BFSI sector, the institution’s success serves as a compelling case study, inspiring other organizations to embrace technology as a catalyst for positive change and lasting impact in their communities. Through participation in industry events like the BFSI IT Summit Indonesia, sharing insights and best practices, the institution aims to further promote the transformative potential of digital innovation in advancing financial inclusion and empowering communities.

Overview of the 22nd Edition of BFSI IT Summit, Indonesia:

The Indonesian BFSI sector is experiencing accelerated digital transformation and rapid changes in business environments. The 22nd Edition BFSI IT Summit is an exclusive invitation-only in-person event tailored for Indonesian BFSI technology and innovation leaders. Themed “Digitally revolutionizing the Indonesian BFSI industry,” the BFSI IT Summit Indonesia will convene over 120 CTOs, CIOs, CISOs, heads of digital transformation, IT infrastructure, cybersecurity, and other IT experts from the Banking and Financial Service industry.

Functioning as both a learning and networking platform, the summit aims to deeply explore the industry’s pressing challenges and identify best practices for overcoming them. Discussions will center on policies and strategies implemented to foster a diverse and effective financial sector, including topics such as digital banking, financial inclusion, digital payments, data privacy, and protection.

We are delighted to announce that the event will take place on May 16th at the JW Marriott Hotel in Mega Kuningan, Jakarta.

We are also proud to announce the invaluable support of two esteemed partners: KADIN (Kamar Dagang & Industri DKI Jakarta) and APDI.KADIN, representing the Chamber of Commerce and Industry of Jakarta, brings a wealth of expertise and influence in fostering business development and industry collaboration within the region. Meanwhile, APDI, serving as a platform for the formation, coaching, development, representation, advocacy, and collaboration of Digital Leaders, adds a crucial dimension to the summit by providing insights and guidance on navigating the digital landscape. Their partnership underscores the collaborative effort to drive innovation and excellence in the Indonesian BFSI sector, making the summit a truly comprehensive and impactful event for all participants.

Prominent speakers confirmed for the summit include:

Andang Nugroho President ISC2, Jakarta Chapter.
Miguel Soriano, Senior Operations Officer – Financial Institutions Group International Finance Corporation (IFC) – World Bank.
Arif Ilham Adnan, Chairman of the Permanent Committee of the Jakarta Chamber of Commerce & Industry, Founder and Co-Chairman of the Association of Digital Leaders Indonesia.
Anton Pranayama, Chief Information Officer PFI Mega Life.

Get ready for an exhilarating lineup of discussion topics at the event!

Understanding the landscape of Indonesia’s Digital Payment Industry.
Crafting excellence in Digital Banking.
Leading the way in advancing open banking.
The Future of Data centres: Optimizing efficiency and embracing innovation.

And many more!

For more information on BFSI IT Summit, Indonesia visit: https://bfsiitsummit.com/indonesia/

Author: Aayesha Zaheer

For Media Enquiries, contact:
Kasturi Nayak (Sr. Marketing Executive)
Kasturi.nayak@exito-e.com
Enquiry@exito-e.com
Exito Media Concepts

Datacloud APAC: Charting the Course for APAC’s Cloud Future

SINGAPORE, May 8, 2024 – (ACN Newswire) – BroadGroup’s Datacloud APAC conference took place in Singapore this week, marking it one of the largest and most important gatherings for the Asia Pacific of leaders in the digital infrastructure industry. The event attracted over 270 attendees to participate in the two-day conference.

The region’s growth is driven by the rapid adoption of cloud storage solutions, a growing demand for low-cost data storage, and an increased need for faster data accessibility across various industries. Moreover, the Asia Pacific region is seeing a push towards innovative cloud technologies, influenced by the rapid digitalisation of businesses and the increasing internet penetration.

Mayank Srivastava of BDx Data Centres opened the conference with a keynote speech describing what data centres in the APAC region face. Followed by a panel discussion, there was much buzz around the challenges of navigating and preparing for increased demand, especially in finding the capacity to power data centres. Powering data centres is becoming an increasingly pressing issue because they are estimated to account for up to 3% of global electricity consumption today, with projections suggesting this could increase to 4% by 2030. The average hyperscale facility consumes enough electricity annually to power up to 37,000 homes. This level of consumption is prompting greater governmental scrutiny and regulation, especially in regions facing energy and water resource pressures.

“The average density of data cloud centres is increasing, with current demand being AI,” said Mark Fong, Chief Executive Officer of Empyrion Digital, a member of the panel session alongside other industry-leading operators.

As cloud adoption spreads across more industries (BFSI, healthcare, retail, and government), there was also discussion about how to scale data centre construction. In building new data centres, more consideration is being given to Sustainable Cloud Solutions, especially in light of the amount of power it takes to incorporate artificial intelligence and machine learning capabilities. The combined electricity use by major companies like Amazon, Microsoft, Google, and Meta, huge consumers of these services, more than doubled between 2017 and 2021, reaching around 72 TWh. This trend is expected to continue and grow.

“Customers demand pragmatic sustainable solutions. They are operating with a global view and we as DC providers need to work with them on meeting their green requirements. Clarity and transparency are essential,” said Matthew Benic, the Head of Commercial, Data Centres & Networks Division, Keppel.

The rise of IoT and the need for low-latency processing are driving the growth of edge computing. Speakers discussed how this is particularly relevant in the APAC region, where large populations and fast-growing tech markets create a high demand for real-time data processing.

Other issues the sector is grappling with centre around security and privacy, regulatory compliance, cost management and who is funding data centre development, as well as performance criteria, including the complexities of maintaining high availability while balancing load. For example, the demand for interoperability and data portability between cloud providers is essential but can incur significant costs or operational delays.

Another critical issue is the war for talent. Skilled professionals who understand cloud architectures, security, and regulatory requirements are in short supply, which can hinder the deployment and management of effective cloud solutions. Speakers discussed ideas as to how to grow a pipeline of talent, the merits of cross-training, and whether adjacency hiring could overcome skill set matching.

Overall, the conference went exceedingly well, with participants commenting on how much they enjoyed interacting with like-minded professionals who are grappling with the same issues.

“Events like Datacloud APAC 2024 are a great networking opportunity. Although competitors, we (in the industry) realise that everyone is facing the same common problems. What events like this can do is bridge the gap between private sectors collectively and attract and develop conversations with regulators to tackle critical pain points that are limiting the scale and potential of the data centre industry,” said Hisham Muhammad, Head of Client Solutions Engineering Asia Pacific, Yondr, a visitor to the event.

Many who travelled far to attend the event found value in doing so. Samuel Jones, a student who journeyed from abroad, expressed his enthusiasm stating, “This is my first time attending a datacloud event, and I’ve gained invaluable insights from both the stage events and networking opportunities with industry experts. The panel sessions provided a deep dive into the scaling, cooling solutions, and power requirements of data centres. Hearing directly from operators was truly eye-opening and offered a perspective that simply can’t be replicated in a classroom setting.”

Speakers at the conference represented leading brands including BW Digital, Digital Realty, Empyrion Digital, GDS International, Equinix, Exyte, Keppel, Neutra DC, Princeton Digital Group, STACK APAC, and ST Telemedia Global Data Centres.

“This was the first time in a number of years that the Datacloud APAC event has taken place in Singapore,” mentioned Liss Boot-Handford, Head of Content for Datacloud. “The seniority of the attendees has been industry-leading for the region, with a focus on key decision-makers from the major Asian operators. We’re delighted with the turnout, and look forward to continuing to grow our presence in the region.”

Datacloud APAC 2024 was held 6-7 May 2024 at Voco Orchard Singapore. The second day set to deliver engaging content on the sector’s emerging technologies, sustainability, data sovereignty, and the future of data centres. For more information and the event agenda, visit the Datacloud APAC 2024 website.

About Datacloud APAC

Datacloud APAC is part of a global series of high-profile global events. It is focused on the digital infrastructure and data centre industries in the Asia Pacific region. Organised by BroadGroup, the event brings together industry leaders to explore critical trends, forge new partnerships, and drive regional growth.

MEDIA CONTACT:
Windy Oktaviani
PINPOINT PR Pte. Ltd.
windy@pinpointpr.global
WhatsApp/Telegram/Line: +62 811 910 9266

Capital.com’s Client Trading Volumes Surpass USD1 trillion in 2023

LIMASSOL, CYPRUS, May 8, 2024 – (ACN Newswire) – Capital.com, the high-growth global trading platform and fintech group, has today announced that total client trading volumes reached more than $1.2 trillion in 2023. This is a rise of 53% from a year earlier and marks the first time client trading volumes have breached the $1trn mark since the company’s inception in 2016. This achievement speaks to Capital.com’s ability to remain resilient and entrepreneurial even amid uncertainties across the wider market.

Affirming this strong and sustained growth trajectory, Capital.com has earned itself the much coveted top spot on the 2023 Deloitte Tech Fast 50 rankings for the 3rd consecutive year. The Deloitte Technology Fast 50 programme celebrates and recognises the fastest-growing technology companies that have their headquarters either in the Middle East or Cyprus. Capital.com, was ranked the #1 fastest growing technology company among 50 nominees with an unprecedented revenue growth rate of 4011% over the last four years.

Commenting on the award win, Ariel Segev, Group Chief Financial Officer, Capital.com, said:

“It is a great honour to be recognised as the fastest growing tech company at the DME Fast 50 for the 3rd year in a row. This win demonstrates our tenacity and resilience as a high-growth fintech company and we are extremely lucky to have our headquarters in a dynamic and thriving tech hub such as Cyprus. With its conducive, business-friendly ecosystem, deep talent pool and facilitative legislation, Cyprus is the ideal jurisdiction for tech scale-ups such as ours to supercharge their growth strategies.”

This industry win coincides with more recent growth reported across the Capital.com platform. In Q1 2024, total global trading volumes on the platform reached $337bn. Over the same period, the number of active traders on the platform was up 17% from the previous quarter. The vast majority of trading volumes came from clients in the Middle East, followed by Germany, Italy and the Netherlands.

The top two most traded markets by volume on the platform in Q1 2024 were indices and commodities. More than 79% of total volumes traded across the platform in Q1 found its way into index-related markets, specifically the US Tech 100 (Nasdaq-100), US30, DE40 and the US500.

Daniela Hathorn, Senior Market Analyst, Capital.com, said:

“The hype around semi-conductors was carried into Q1 2024 which helped boost tech stocks and the US Tech companies listed on the Nasdaq Stock Exchange. Traders also shifted their mentality in Q1 and started to welcome the resilience in the US economic data, moving away from the ‘good-data-is-bad’ rhetoric that dominated most of 2023. This allowed stocks to move to new highs even if it meant the Federal Reserve was less likely to start cutting rates.”

Over the same period, trading volumes in commodity markets accounted for 58% of total volumes traded, making it the second most heavily traded market by volume on the Capital.com platform. Trading volumes were largely concentrated in gold and crude oil.

“Risk appetite was strong throughout most of the quarter, a key driver of the rally in equities. That said, escalations in geopolitical tensions led investors to diversify their portfolios, causing gold to appreciate over 10% in the first three months of the year as safe-haven demand increased. Meanwhile, continued attacks on Russian refineries and fears about tight supply stemming from the conflict in the Middle East has pushed oil prices higher,” added Hathorn.

Click here to find out more about Capital.com’s ranking at the 3rd Edition of the Deloitte Technology Fast 50 Programme.

Media Contact
PR for Capital.com
Shamillia.sivathambu@capital.com
+44 7900 016 469

About Capital.com

Capital.com is a high-growth fintech company empowering people to participate in financial markets through simple and innovative online trading platforms. Launched in 2016, its intuitive award-winning platform -available on web and app -enables investors to trade thousands of world-renowned markets. To help investors trade with confidence, the platform is fitted with robust risk management controls, transparent pricing and extensive educational content to support clients in their investment journeys.

Capital.com has a global network with offices located in leading business and financial centres including London, Dubai, Warsaw, Vilnius, Sofia, Limassol, and Melbourne. Capital Com (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 793714. Capital Com SV Investments Limited is Authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), under licence number 319/17. Capital Com Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised to carry out Securities Business by the Securities Commission of The Bahamas with licence number SIA-F245. Capital Com Mena Securities Trading LLC is authorised and regulated by the Securities and Commodities Authority (SCA), under license number 20200000176.

To find out more, please visit: www.capital.com

This press release is for media use only. It’s not intended for individual investors, and doesn’t include personal advice or recommendations.

DISCLAIMER

Spread bets and/or CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.84% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider. You should consider whether you understand how spread bets and/or CFDs work and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd. Spread bets are available only to UK clients.

The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

Capital Com (UK) Limited (“CCUK”) is registered in England and Wales with company registration number 10506220. CCUK is authorised and regulated by the Financial Conduct Authority (“FCA”), under registration number 793714. Capital Com SV Investments Limited (“CCSV”) is registered in Cyprus with company registration number 354252. CCSV is regulated by Cyprus Securities and Exchange Commission (CySEC) under licence number 319/17. Capital Com Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393. Capital Com Online Investments Ltd is a limited liability company (company number 209236B) registered in the Commonwealth of The Bahamas and authorised to carry on Securities Business by the Securities by the Securities Commission of The Bahamas (“SCB”) with licence number SIA-F245. Capital Com Mena Securities Trading LLC is authorised and regulated by the Securities and Commodities Authority (SCA), under license number 20200000176.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.

SOURCE: Capital.com

Spritzer EcoPark Taiping Brightens up the Sky with an Enchanting Aurora Light Show at Food, Arts and Music Carnival

KUALA LUMPUR & TAIPING, May 8, 2024 – (ACN Newswire) – Spritzer EcoPark enchants visitors by bringing home the northern lights through an Aurora light show that illuminates the night sky in Taiping over the last weekend, 27th April to 1st May 2024. This breathtaking show is a standout feature of Spritzer’s Foods, Art & Music (“F.A.M.”) Carnival, an event generously supported by Perak Tourism.

The F.A.M. Carnival delivers a whirlwind of activities from 27th April to 1st May 2024, running daily from 1:00pm to 12:00am. Attendees enjoy the vibrant atmosphere, which commenced with an opening ceremony on 27th April. At the heart of this extravaganza lies the breathtaking Aurora Light Show, illuminating the skies of Taiping each night with dazzling moving streams, ripples, to arcs of colours, leaving attendees mesmerized.

For food lovers, the F.A.M. Carnival offers enticing local food stalls for visitors to choose from. Foodies can also take part in the Big Eater Challenge, challenging the influencer, Amoi Saka, on day two of the carnival to eat the most satay within 8 minutes. Once again, Amoi Saka emerged victorious by consuming 80 pieces of satay within the time limit.

In addition to the Aurora Light Show, art enthusiasts immersed themselves in colourful installations and exhibitions showcasing the works of local and regional artists. These creative expressions will ignite the imagination.

As the sun sets, the F.A.M. Carnival will come alive with the rhythms of local music acts. Visitors will be entertained by the performances of Shidi Data, Azzaraband, Han Budak Cina, Amoi Saka, Ukays, and Bueh, among others, as they take the stage and command the audience with their infectious melodies and captivating stage presence. Throughout the carnival, visitors can add a splash of fun to their carnival day at the daily foam party experience.

On Tuesday, April 30th, YB Loh Sze Yee, State Tourism, Industry, Investment, and Corridor Development Committee chairman, paid a surprise visit to grace the event, highlighting the significance of this celebration. YB Mr Loh Sze Yee expressed, “It is truly heartwarming to see such a dynamic fusion of food, arts, and music bringing vibrant energy to Taiping. Events like the F.A.M. Carnival not only showcase the cultural richness and creative spirit of our community but also play a crucial role in boosting local tourism and economic development. This Aurora Light Show, mimicking the magical northern lights, is not just a feast for the eyes but a symbol of how innovation and tradition can blend to create something truly spectacular. As we celebrate 150 years of Taiping, it is our commitment to continue supporting such initiatives that enrich our community and enhance Taiping’s appeal as a must-visit destination in Malaysia.

Winnie Chin, Spritzer’s Head of Public Relations, shared, “Taiping, the Home of Spritzer, holds a special place in our hearts. As Taiping celebrates its 150 years, our company is dedicated to revitalizing this enchanting town by organizing a diverse range of events and enriching Taiping’s tourism. We aim to provide local residents with plentiful opportunities to savour and indulge in unforgettable experiences.”

The event offered a fusion of food, arts and music for an unforgettable experience for all. Nestled in the lush greenery of Taiping, Spritzer EcoPark invites visitors to explore its breathtaking natural surroundings, from leisurely walking trails to the ancient 214-million-year-old Cactus Rock and an 18-hole Mini-Golf course. Visitors can also purchase souvenirs and Spritzer products or unwind at the STG café, soaking in the serene ambience.

Spritzer EcoPark is open daily from 10:00 AM to 9:30 PM. During special event, the park extends its operating hours to coincide with the event schedule. We are located at Lot 898, Jalan Reservoir, Off Jalan Air Kuning, 34000 Taiping, Perak.

For more details, please visit our website at Spritzer Mineral Water Malaysia.

About Spritzer:

Established in 1989, Spritzer Group has been a pioneer in providing Malaysians with natural mineral water sourced from a 440-acre green rainforest. Committed to innovation, Spritzer Group leads the Malaysian bottled water industry through manufacturing, distribution, marketing, and sales of its diverse product line. From renowned natural mineral water to refreshing non-carbonated fruit-flavoured drinks, each product is carefully crafted to meet consumer needs.

Comprising eight business subsidiaries, Spritzer Group specializes in the production and distribution of silica-rich natural mineral water, sparkling natural mineral water, distilled drinking water, carbonated fruit-flavoured drinks, and non-carbonated fruit-flavoured drinks.

With over 30 years of experience, Spritzer Group is Malaysia’s largest and only listed bottled water producer. For more information, please visit www.spritzer.com.my.

Zhang Zhehan’s Directorial Debut Documentary ‘August’ Premiered Online, Receiving Rave Reviews From Audiences

Embark on a Journey of Resilience and Self-healing with Zhang Zhehan’s Inspirational Directorial Debut, ‘August’

Zhang Zhehan’s directorial debut documentary ‘August’ was officially released online with an IMDb rating of 9.8 and has risen to 10th place among IMDB’s most popular documentary films.
The lead single, “Can You Hear Me”, of the third album, will be released on May 8th.

BEIJING, CHINA, May 8, 2024 – (ACN Newswire) – Ranyi Music, an emerging music production and artist management company based in China, proudly announces the premiere of “August,” the first directorial effort by its distinguished artist, Zhang Zhehan. Launched on YouTube on April 14th, 2024, this compelling documentary showcases Zhang’s personal journey of self-healing following a tumultuous cyber media storm. Acclaimed for its profound impact, “August” has achieved an impressive IMDb rating of 9.8 and has risen to 10th among the most popular documentary films in IMDB.

In August 2021, Zhang Zhehan found himself caught up in an unprecedented storm. A massive wave of public opinion suddenly swept in, fueled by false information and malicious distortions on the internet, shattering his career and personal life. He chose to bravely face everything and embarked on a self-healing journey.

The documentary “August” was filmed for nearly 20 days, capturing Zhang’s cycling trip from Shangri-La to Lhasa. Along this journey, he encounters snow-capped mountains, glaciers, and herds of livestock, meets many ordinary, yet touching, faces, and listens to the pain and love within himself. He shares stories of the strangers he meets: a bar owner who accompanies himself with a lifelong passion for music, the growth and dreams of two basketball-loving brothers, the innkeeper’s tales of the hustle and bustle on the Sichuan-Tibet Highway, and a ‘love at first sight’ kind of enchantment.

The documentary “August” has been highly praised after its release, not only covered by multiple media outlets but also achieving a high score of 9.8 on IMDb.

Zhang Zhehan: unveiling the evolving power of music

On May 8th, the lead single from his third album, “Can You Hear Me”, will be released. The singer takes a more daring and avant-garde approach to the composition, with the entire song built around the single line, “Can You Hear Me”, transcending the boundaries of language, the limits of time and space, forging a soulful connection between inner confession and the sounds of the outer world.

On May 10th, the second physical album “Datura” will be released. This July, Zhang Zhehan will also be going to Australia to hold his fan meeting.

Zhang Zhehan’s low point is now a thing of the past and his career is blooming again

In 2023, Zhang Zhehan released two albums, and his songs immediately dominated the charts on various global music platforms. In May of the same year, he held two “Primordial Theater” concerts in Bangkok, Thailand, kicking off his concert tour. He then performed in Malaysia and Singapore. In February 2024, Zhang Zhehan held a concert in Hong Kong, China, attracting nearly 10,000 spectators.

Zhang Zhehan’s musical talent is undeniable, and his popularity is evident. In Spotify’s rankings released last year, Zhang Zhehan achieved an impressive feat as the ninth most-streamed Chinese pop singer worldwide. He has consistently topped radio charts in Malaysia, Singapore, and Taiwan, and received invitations to participate in the year-end award.

That August is now a thing of the past, and we eagerly anticipate the next August, experiencing the profound meaning of a new, “August.”

For more information about Zhang Zhehan, please visit www.zhangzhehan.net.

Contact Information
Zhao Yao
Marketing Manager
ranyimusic@163.com
(86)17717423596

Related Images

SOURCE: Ranyi Music

View the original press release on newswire.com.

Avance Clinical Expands Further into APAC with New Clinical Operations in South Korea

Adelaide, AU & North Carolina, USA, May 8, 2024 – (ACN Newswire) – Avance Clinical, the award-winning Australian and North American market-leading CRO for biotechs, will attend BIO Korea (May 8-10, 2024) and formally open new clinical operations in Seoul, South Korea.

Meet with the team at BIO Korea

Avance Clinical CEO, Yvonne Lungershausen said the decision to open clinical operations in Seoul followed increasing demand from later phase US biotechs, as well as CRO partners for access to the region’s scientific excellence and patient populations.

“In addition, feedback from a recent presentation of our GlobalReady drug development solution to more than 75 Korean biotechs and pharmaceutical companies in Seoul showed a real need for Korean clinical operations with a global pathway,” said Lungershausen.

“It’s clear there is a demand for a mid-sized, agile, and responsive CRO with an in-house regulatory affairs team, and a proven track record of swiftly advancing high-quality clinical programs. This makes us an ideal CRO partner for later phase biotechs that are seeking access to significant patient populations,” she said.

“The new South Korean operations also offer a strategic presence for Avance Clinical’s CRO partners conducting multi-regional or global trials.

In addition, Korean biotechs are utilizing our Australian and United States clinical services as they progress their drug development programs,” said Lungershausen.

“Our Avance Clinical teams in APAC, Europe and the United States, offer our biotech clients world-class quality data and seamless geographic expansions to accelerate their drug development programs and position for success.”

“Avance Clinical’s study data is accepted by all the main regulatory authorities including the MFDS and FDA. In addition, the Therapeutic Goods Administration (TGA) in Australia and FDA recognises data generated in Korea.”

“Biotechs are looking for a partner that can start fast with high-quality data that is readily accepted by the US FDA and other regulatory agencies. Backed by our in-house global regulatory affairs team, we can navigate biotechs through regulatory complexities with confidence including FDA, EMA, MFDS and TGA submissions,” she said.

“In addition, our GlobalReady Site Partnership Network of over 2,000 highly qualified sites across the globe ensures maximum efficiency and effectiveness for our biotech clients’ trials,” she said.

Avance Clinical is focussed on accelerating drug development for its biotech clients, from preclinical stages through to Phase III.

“This is our GlobalReady program and we have more than 90 biotech clients leveraging this unique, streamlined multi-phase and multi-region process. With a globalized strategy, we ensure efficiency every step of the way,” she said.

Book a meeting with the team at the Australian Pavilion at BIO Korea to meet with our team of clinical trial experts.

Find out more:

Learn about the GlobalReady model
For more information about the benefits of running your next study with Avance Clinical contact us
Request a Proposal here

Media Contact:
Avance Clinical
Kate Thompson
media@avancecro.com

About Avance Clinical

Avance Clinical is the largest premium full-service Australian and North American CRO delivering quality clinical trials, with globally accepted data, in Australia, New Zealand and the US for international biotechs. The company’s clients are biotechs completing Phase I to Phase III of their drug development program that requires fast, agile, and adaptive solution-oriented clinical research services.

Frost & Sullivan Awards

Avance Clinical, a Frost & Sullivan Asia-Pacific CRO Market Leadership Award recipient for the past four years, has been providing CRO services in the region for more than 26 years.

Pre-clinical through to mid to late phase

Avance Clinical offers pre-clinical services with their experienced ClinicReady team right from pre-clinical through to Phase III clinical services leveraging significant Australian Government incentive rebates of up to 43.5% and rapid start-up regulatory processes.

With experience across more than 120 indications, the CRO can deliver world-class results and high-quality internationally accepted data for FDA and EMA review.

Technology

Avance Clinical uses state-of-the-art technology and gold standard systems across all functional areas to provide clients with the most effective processes. Medidata, Oracle, TrialHub, Certinia, Salesforce, Zelta and Medrio are just some of the technology partners.

www.avancecro.com

Crypto Oasis Thrives: UAE Blockchain Ecosystem sees Exponential Growth with 2,040 Active Organizations in Q1 2024

DUBAI, May 7, 2024 – (ACN Newswire) – Crypto Oasis proudly presented the an update on the ever-evolving UAE blockchain ecosystem during the second edition of Dubai FinTech Summit 2024. Over the past year, The number of active companies has surged from 1,800 to 2,040, marking a significant 13.3% YoY increase. This growth is a testament to the robustness and innovation within the industry, which now has over 10,600 professionals, with a healthy mix of 71% native Blockchain organizations and 29% non-native companies contributing to the ecosystem.

The UAE Ecosystem proves to be a hub for innovation and a magnet for attracting talent with over 10,600 individuals now working in the space.

Key Highlights:

Active companies within the ecosystem surged by a significant 13% year-on-year, reaching a staggering record of 2,040 organizations.
Marked increase in the industry workforce, with over 10,600 individuals working in the Blockchain space.
Regulatory clarity drives crypto industry growth as major global names such as Binance, Bybit, and OKX receive Virtual Asset Service Provider (VASP) licenses from VARA.

Within the vibrant UAE blockchain ecosystem, a diverse array of organizations contributes to its continuous success. Traders, brokers, and asset managers form a significant segment, accounting for 20.6%. Close behind, 19.9% are dedicated to technology and advisory services. NFT platforms represent 6.9%, while venture capitalists (VCs) make up 5.3%. The metaverse has a growing presence with 3.7%, and Web3 gaming initiatives account for 3.1%. Additionally, tokenization platforms are carving out a niche, representing 1.5% of the Blockchain organisations in the country.

The past year has been pivotal for the UAE blockchain space, with notable developments that have solidified its position as a global leader in blockchain innovation and disruption. VARA, the Virtual Asset Regulatory Authority, has demonstrated a commitment to responsible growth and intends to secure the market’s integrity. Regulatory tailwinds have helped establish the region as a welcoming hub for blockchain enterprises.

Binance, Fasset, Hex Trust, Komainu and OKX are among the global crypto service providers to receive the VASP (Virtual Asset Service Provider) license from VARA last year. Regulatory milestones include, Aquanow, Bybit, Crypto.com and Deribit receiving preliminary licenses from VARA.

Throughout 2023, the UAE has seen a significant increase in cryptocurrency adoption, reinforcing its status as a burgeoning centre for digital finance. The XRP token from Ripple has been approved under the Dubai Financial Services Authority (DFSA) and Iota, an open-source distributed ledger focused on the Internet of Things (IoT) announced the creation of the Iota Ecosystem DLT Foundation in Abu Dhabi Global Markets (ADGM). Furthermore, the launch of the Dubai Web3 and AI Campus at the DIFC last year has positioned the UAE at the forefront of technological convergence, attracting talent and investment from across the globe.

Other blockchain-related news that shows the ecosystem’s remarkable growth trajectory is the fact that the UAE-based Bitcoin miner Phoenix Group became the first crypto-related firm to go public on the Abu Dhabi Securities Exchange at the end of 2023. DFINITY, a Layer 1 protocol, set up their regional hub, ICP.Hub GCC, is an initiative to provide an access point for projects and developers in the region into the Internet Computer Protocols Ecosystem.

The UAE has also become home to landmark blockchain events like Ripple Swell and Cardano Summit in November last year, underscoring the country’s status as a premier destination for global Blockchain discourse. TOKEN2049, a global conference series, had a premier blockchain event in Dubai in April this year with over 400 side events and over 20,000 attendees. The Dubai AI & Web3 Festival planned for September 11-12, 2024 will be another feather in the cap of the city, as it posed to attract top global thought leaders to discuss the future of the Web3 and AI industry.

Ralf Glabischnig, co-founder of the Crypto Oasis said: “The Crypto landscape in the UAE and Middle East region is the fastest growing ecosystem worldwide. The government is doing for Blockchain what Silicon Valley did for tech. This past year has been nothing short of phenomenal for the Crypto Oasis Ecosystem. The surge in companies and talent underscores the UAE’s commitment to fostering a vibrant blockchain and Web3 environment. We’re excited to witness the continued growth and innovative solutions emerging from this dynamic ecosystem.”

With a talented workforce and a commitment to innovation, the Crypto Oasis is poised to continue its exceptional progress. The Dubai FinTech Summit was a prime opportunity to witness the UAE’s flourishing Blockchain ecosystem firsthand and to present the growth numbers of the ecosystem.

About Crypto Oasis

The Crypto Oasis is the largest Web3 ecosystem in the world focused on the Middle East and Africa region and is supported by initiators of the Crypto Valley Switzerland. The core elements needed for its development are Talent, Capital, and Infrastructure. The Ecosystem’s stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Education & Research Institutions, Service Providers, and Government Entities & Associations. Crypto Oasis is the leading Blockchain ecosystem in the world. Today it is the fastest growing, with more than 2,040 blockchain-related organizations in the UAE alone. www.Cryptooasis.ae

For more information contact:
Faisal Zaidi
Crypto Oasis
faisal@Cryptooasis.ae
+971552000840

USA to Battle France in the Historic 2024 Paris Games Polo Challenge, Presented by U.S. Polo Assn.

PARIS, FRANCE AND WEST PALM BEACH, FL, May 7, 2024 – (ACN Newswire) – U.S. Polo Assn., the official brand of the United States Polo Association (USPA), and the Polo Club du Domaine Chantilly are proud to present the Paris Games Polo Challenge 2024, a tribute match between USA and France taking place on August 7. The Paris Games Polo Challenge will be open to the public and will air on ESPN2 to a global audience.

With the 2024 Summer Olympics taking place in Paris from July through August and equestrian events concluding on August 6 at Versailles, U.S. Polo Assn. invites sports fans to continue the equestrian celebration with polo, just 40 minutes outside Paris city center at the Polo Club du Domaine Chantilly. Chantilly is the home of the Great Stables of Prince de Conde and Chateau de Chantilly, and is, of course, the namesake of Chantilly lace, the famous silk laces that date back to 17th century France.

In partnership with the Federation of International Polo (FIP), the Federation Française de Polo (FFP) and the USPA, this historic match is the centennial celebration and tribute to the last time France hosted the Olympics, exactly 100 years ago. France will be seeking redemption at the Paris Games Polo Challenge 2024 for the VIII Olympiad which were held in Paris for the second time in the modern era. On June 28, 1924, in St. Cloud, France, and before the official opening ceremony, the match between the United States and France began. It ended with France losing 15-1. USA concluded the overall tournament with the silver medal, having lost to Argentina, who remained unbeaten and took home Olympic gold. The last Olympics to include polo was held in 1936 in Berlin, Germany.

As the Title and Apparel Sponsor, U.S. Polo Assn. will be providing apparel for USA and France Teams with performance jerseys, practice jerseys, and an assortment of U.S. Polo Assn. custom-designed country apparel to wear off the field, featuring the global sports brand’s iconic double horsemen logo. The USA Team will be wearing custom USPA Pro whites. U.S. Polo Assn. is also providing saddle pads, as well as groom and staff outfitting for the Polo Club du Domaine Chantilly. VIP gifts for the event will include event limited edition Paris Games Polo Challenge 2024 caps, t-shirts, scarves and pocket squares, as well as branded duffle bags.

“U.S. Polo Assn. is honored to be part of such an historic and celebratory polo event at the beautiful Polo Club du Domaine Chantilly, alongside the upcoming 2024 Paris Olympics,” said J. Michael Prince, President & CEO of USPA Global, the company that manages and markets the multi-billion-dollar U.S. Polo Assn. brand. “This event brings FIP, FFP and the USPA together for only the second time in 100 years of history, making this tribute game a once-in-a-lifetime opportunity for everyone that attends.”

Polo Club du Domaine Chantilly will also be hosting two other high goal polo tournaments this summer, the Polo Nations Cup from June 13 – 23, and the French Open for men and women from September 4-22. These events are also open to the public.

“The French Polo Federation is extremely honored to welcome the Paris Games Polo Challenge to our country during the summer of the Paris Olympic Games 2024, with the support of FIP, the USPA and U.S. Polo Assn. at the prestigious Polo Club de Chantilly, headquarters of the French Polo Federation,” said Jean-Edouard Mazery, President of the French Polo Federation. “This is a unique step for the French national team to play the USA Team during the Paris Olympic Games 2024, and a tremendous opportunity to develop a program for our French national team and promote our sport.”

About U.S. Polo Assn. and USPA Global

U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the governing body for the sport of polo in the United States and one of the country’s oldest sports governing bodies, founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through more than 1,100 U.S. Polo Assn. retail stores as well as thousands of additional points of distribution, U.S. Polo Assn. offers apparel, accessories, and footwear for men, women, and children in more than 190 countries worldwide. A recent, multi-year deal with ESPN to broadcast several of the premier polo championships in the world, sponsored by U.S. Polo Assn., has made the thrilling sport accessible to millions of sports fans globally for the very first time.

U.S. Polo Assn. has consistently been named one of the top global sports licensors alongside the NFL, NBA, and MLB, according to License Global. In addition, the sport-inspired brand is being recognized around the world with awards for global growth, expansion, licensing, and digital growth. Due to its tremendous success as a global brand, particularly in the last five years, U.S. Polo Assn. has been featured in Forbes, Fortune, Modern Retail, and GQ as well as on Yahoo Finance and Bloomberg, among many other noteworthy media sources around the world.

For more information, visit uspoloassnglobal.com and follow @uspoloassn.

USPA Global is a subsidiary of the USPA and manages the global, multi-billion-dollar U.S. Polo Assn. brand. Through its subsidiary, Global Polo Entertainment (GPE), USPA Global also manages Global Polo TV, which provides sports and lifestyle content. For more sports content, visit globalpolo.com.

About The Federation of International Polo

The Federation of International Polo (FIP) is the international federation representing the sport of polo, officially recognized by the International Olympic Committee. The FIP was founded in 1982 by representatives of eleven national polo associations, and it represents the national polo associations of more than 80 countries. Its principal aim is to enhance the international image and status of polo.

In addition to organizing international tournaments, the FIP develops international tournaments for children, conducts umpiring and coaching seminars, encourages participation in the sport at all levels and ages, and makes the international rules of polo through a cooperative agreement with the Asociación Argentina de Polo, the Hurlingham Polo Association of Great Britain and Ireland, and the United States Polo Association (USPA). Visit fippolo.com.

About the French Federation of Polo (FFP)

The Fédération Française de Polo (FFP) was created to make polo accessible to all, to promote the sport throughout France and to support the common interests of its member clubs in every way possible. The FFP organizes national and international polo competitions and championships, sets the technical rules for competitions by harmonizing them with foreign rules, and organizes the training and teaching of the equestrian discipline. Today, the FFP has over 30 affiliated clubs and more than 800 players within its organization. For more information, please visit francepolo.com.

About the United States Polo Association® (USPA)

The United States Polo Association (USPA) was organized and exists for the purposes of promoting the game of polo, coordinating the activities of its Member Clubs and Registered Players, arranging and supervising polo tournaments, competitions, and games, and providing rules, handicaps, and conditions for those tournaments, competitions, and games, including the safety and welfare of participants and mounts. Founded in 1890, the USPA is the national governing body for the sport of polo. The USPA is currently comprised of almost 200 member clubs with thousands of individual members and oversees 40 national tournaments. For more information, please visit uspolo.org.

Contact Information
Stacey Kovalsky
VP Global PR and Communications
skovalsky@uspagl.com
+001.561.790.8036

Shannon Stilson
VP, Sports Marketing & Media
sstilson@uspagl.com
+001.561.227.6994

SOURCE: USPA Global Licensing Inc.

View the original press release on newswire.com.

Cordlife Accelerates Lab and Technical Staff Recruitment to Rebuild Foundation and Strengthen Core Processes in Singapore

SINGAPORE, May 7, 2024 – (ACN Newswire) – Cordlife Group Limited (“Cordlife” or the “Company”) announced today that it has accelerated recruitment of laboratory and technical staff to ensure laboratory operational excellence as part of its strategic plan for financial year 2024 (“FY2024”) to prioritise rebuilding its foundation and strengthening core processes to prevent future disruptions.

Cordlife also provided an update that as of 30 April 2024, a significant number of affected active clients whose cord blood units were stored in Tank A has accepted the offer of a refund of annual fees from the year of the temperature excursion.

The Company will continue to store cord blood units for these clients until the maturity of their service agreements when their children turn 21, without charge. In the event a transplant physician determines that the cord blood unit cannot be successfully used for an approved cord blood transplant solely because it does not meet the viability criteria, Cordlife will make every effort to find a suitable replacement.

Cordlife has also extended the same offer to affected clients with cord blood units stored in Tank 6 and the dry shipper. The Company will be reaching out to these clients with the next steps in due course.

Cordlife has confirmed that its medical and technical teams, along with three of its Singapore-based directors – Dr Ho Choon Hou, Mr Yeo Hwee Tiong and Mr Cheong Tuck Yan Titus Jim – and Group Chief Executive Officer, Mr Ivan Yiu, have been engaging with the Ministry of Health (“MOH”) regularly to provide updates on its corrective actions to rectify the identified lapses.

Cordlife’s new sample collection in Singapore has been suspended by MOH since 15 December 2023, following checks that reported suboptimal temperatures in seven of the 22 cryogenic storage tanks based in Singapore. Checks on the remaining 15 tanks confirmed that they were not affected.

The Company emphasised that the tanks managed by its subsidiaries in markets outside Singapore remain unaffected.

As announced on 8 April 2024, cord blood units in Tank A are unlikely to be suitable for stem cell transplant purposes; units in Tank 6 and a dry shipper are deemed to be at high risk of being affected by the temperature excursions, while cord blood units in the remaining five other tanks are deemed to be at low risk (“Low-Risk Tanks”).

The Company will undertake additional testing on more cord blood units from the Low-Risk Tanks and will pause any applicable billings for clients whose cord blood units are stored there, pending the test results of each tank.

Singapore Exchange Mainboard-listed Cordlife operates Asia’s largest network of private cord blood banks with stem cell storage facilities in six markets, including Singapore. Since its inception, Cordlife has processed and stored more than 400,000 cord blood, cord lining, cord tissue and placenta stem cell samples across its stem cell storage facilities in Asia.

As part of Cordlife’s strategic plan to strengthen core processes and prevent future disruptions, it has executed or is undertaking several major rectification plans in recent weeks:

Hiring More Technical and Laboratory Staff – Cordlife has begun hiring more specialists to lead its laboratory teams more effectively. The Company has successfully recruited two additional lab directors with PhDs and implemented a retention programme to foster stability among its high-potential lab personnel in Singapore. Additionally, Cordlife continues its recruitment efforts to further enhance in-house technical expertise and improve clinical governance standards by adding more lab directors to its team.

Cordlife is also reaching out to former staff from its processing and storage facilities in other markets to support its laboratory operations in Singapore. As part of a major overhaul of processes in Singapore, the Company has commenced extensive training aimed at cultivating a stronger sense of accountability and responsibility among its staff.

Engagement of Expert Consultant from the Foundation for the Accreditation of Cellular Therapy (“FACT” www.factglobal.org) – In its pursuit of industry excellence, Cordlife has enlisted the expertise of a consultant from FACT. This US-based expert has been guiding its technical team since December 2023 and will be on-site in mid-May to provide further guidance to the Singapore team on reinforcing core processes and on the Company’s organisational structure.

Enhanced Monitoring and Operations – Cordlife has implemented a more advanced digitalised system to enhance 24/7 real-time monitoring of its Singapore lab facility, both on-site and remotely. Additionally, the Company has also fortified fail-safe measures to ensure uninterrupted operations.

Establishment of a Distinguished Medical and Technical Advisory Board – Cordlife has been in discussions with several esteemed medical and technical experts as part of its effort to form a Medical and Technical Advisory Board for the Group. This Board aims to provide guidance and insights to the Company’s medical and technical teams. By harnessing the collective expertise of these distinguished professionals, the Company hopes to improve the quality and efficacy of its services to ensure it remains at the forefront of medical and technical innovation and excellence.

Engagement and Resolution Reached with Affected Customers – Since the lapses were identified, Cordlife has been providing updates to its clients as soon as it was in the position to do so. In February this year, Cordlife provided offers to approximately 1,800 active clients who had stored cord blood units in Tank A. Clients with units stored in Tank 6 and the dry shipper have also received information on Cordlife’s offer.

Mr Yiu said, “I sincerely apologise to all our clients and empathise with their disappointment and concerns over these lapses. We are diligently working on ways to minimise the impact on our clients.”

In response to media queries on the letter of demand from solicitors acting on behalf of one of its clients as well as the notice of a claim lodged against the Company in the Small Claims Tribunals by another client, Mr Yiu said, “Although we have sought legal advice on the claims and allegations, we want to address the issues amicably and hope that the affected clients will work with us to achieve resolution.”

Commenting on the financial impact of the MOH suspension, Mr Yiu said that Cordlife’s FY2023 performance was affected as new sample collection was suspended from December 2023. “FY2024 will be dedicated to rebuilding Cordlife’s foundation, with a focus not just on growth but also on long-term sustainability. The implementation of enhanced processes and boosting staff expertise and experience will make us stronger so we can expand to new markets and capture adjacent opportunities. We hope that this strategic advancement will elevate our position within stem cell field in the region,” he added.

“Despite the suspension, we have continued to incur fixed running costs in Singapore as we are committed to meeting our contractual obligations with our clients. Even though the suspension has continued thus far in FY2024, we are investing in more resources to improve our core processes and hire more qualified personnel. This demonstrates our unwavering commitment to our stakeholders, including our clients, MOH, business partners, staff and shareholders,” Mr Yiu said.

Cordlife also wishes to acknowledge and address the concerns raised by active clients whose service agreements are nearing maturity. Mr Yiu said, “We would like to reassure these clients that the Company will not dispose of any cord blood units belonging to them while we work towards resolution. We also kindly ask for their patience as we carefully assess our next steps, and we will contact these clients as soon as we have determined the most appropriate course of action.”

ABOUT CORDLIFE GROUP LIMITED

Cordlife Group Limited (“Cordlife”, together with its subsidiaries, the “Group”), founded in 2001, owns and operates Asia’s largest network of private cord blood banks. The Group is committed to ensuring the health and well-being of both mother and child, amongst others. Listed on the Mainboard of the Singapore Exchange since 2012, the Group is a pioneer in private cord blood banking in Asia with extensive transplant experience, having processed and stored more than 400,000 cord blood, cord lining, cord tissue, and placenta stem cell samples. Cordlife is an industry leader in Hong Kong, Indonesia, and the Philippines and one of the top three market leaders in India and Malaysia. Through its majority-owned subsidiary in Malaysia, Stemlife Berhad, Cordlife has an indirect stake in Thailand’s largest private cord blood bank, Thai Stemlife. In addition to cord blood, cord lining, cord tissue, and placenta banking, Cordlife offers families a comprehensive suite of clinical diagnostics, including non-invasive prenatal testing, paediatric vision screening, and newborn metabolic screening. Cordlife strives to ensure reliable quality and is committed to a customer-centric approach. For more information, visit http://cordlife.listedcompany.com.

Media & Investor Contact
Isaac Tang
WhatsApp (Text): (65) 9748 0688
cordlife@wer1.net

M&A Securities and NewParadigm Underwrites Rights Issue with Warrants for Siab Holdings Berhad’s Acquisition of Taghill

KUALA LUMPUR, May 7, 2024 – (ACN Newswire) – Siab Holdings Berhad (“Siab” or the “Company”), an established player in Malaysia’s construction industry, is pleased to announce its plans to raise approximately RM103.98 million through private placement, of which RM12.00 million has been completed on 28 December 2023, and rights issue with warrants. These funds will be used to finance the acquisition of Taghill Projects Sdn. Bhd. (“Taghill”). The rights issue with warrants, valued at RM91.98 million, will be underwritten by M & A Securities Sdn. Bhd. (“M & A Securities”), the Principal Adviser, Managing Underwriter and Joint Underwriter to the Company, as well as NewParadigm Securities Sdn. Bhd. (“NewParadigm”), the Joint Underwriter to Siab.

Vincent YH Chu, Deputy Managing Director of Taghill Group; Mr. Yap Kek Siung, Executive Director of Taghill Group; Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad; Datuk Bill Tan, Managing Director of Corporate Finance from M & A Securities; Mr. Charanjeev Singh, Executive Director/ Group CEO from NewParadigm Securities; Mr. Wong Yih Ming, Founder and Managing Director of Taghill Group[L-R]

These efforts support the acquisition of Taghill, a move designed to bolster the Company’s growth trajectory, where the purchase price for Taghill is set at RM122.00 million, to be settled with RM96.00 million in cash and the issuance of 200.00 million new Siab shares at RM0.12 per share as detailed in the circular issued by the Company dated 16 November 2023.

Taghill is a construction project and contract management consultancy company, which has completed 12 major construction projects worth RM1.58 billion, including notable developments like Expressionz Suites and Ceylonz Suites in Kuala Lumpur. Currently, Taghill boasts a robust order book valued at RM1.31 billion and has committed to a profit guarantee of at least RM24.00 million for the financial years 2024 and 2025. Nonetheless, Taghill has a strong orderbook of RM1.31 billion.

Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad, expressed his excitement by saying, “The integration of Taghill into our operations allows us to leverage on each other’s specialty which will significantly enhances our Company’s overall value and create synergy for us to work together closely over a longer horizon. We appreciate the continuous support and expertise provided by M & A Securities, NewParadigm Securities and our Financial Advisor, Eco Asia Advisory Sdn. Bhd. (“Eco Asia”), in facilitating these transformative initiatives.”

Datuk Bill Tan, Managing Director of Corporate Finance from M & A Securities added, “We are thrilled to assist Siab in these pivotal financial manoeuvres. With the funds raised, Siab is well-positioned to enhance its market presence and seize more opportunities in the dynamic Malaysian construction and property market.”

Mr. Charanjeev Singh, Executive Director/ Group CEO from NewParadigm commented, “The fund-raising exercise and acquisition of Taghill would allow Siab continues its path on becoming the market leading in construction sector in Malaysia. We are truly delighted to be a part of this significant tipping point of Siab.”

The construction industry in Malaysia is expected to expand by 6.8% to RM60.49 billion as supported by broad-based growth across all subsectors. In Budget 2024, the allocation for Development Expenditure (“DE”) stands at RM99.0 billion – which is the largest DE ever to support the significant growth in the local construction industry. One of the most notably initiative includes the Malaysian Government’s focus on home ownership with an allocation of RM2.47 billion, allocated to implement housing projects for the rakyat in 2024. Siab, together with the acquisition of Taghill, is more than ready to support the Malaysian Government ambitious DE in 2024.