Air India Express unveils vision and differentiators, charting the path ahead in the run up to its brand launch

SINGAPORE, Sept 4, 2023 – (ACN Newswire) – Air India Express today unveiled the vision for the organisation that would be formed with the merger and integration with AIX Connect, currently operating as AirAsia India. The airline also charted the path forward, building on the key milestones already achieved as part of the Air India Group’s ongoing 5-year transformation journey, Vihaan.AI.

The vision and key differentiators build on the shared brand purpose of Air India and Air India Express, ‘to transform a national institution into national inspiration‘. Aloke Singh, Managing Director, Air India Express and AIX Connect, articulated the airline’s Vision ‘to inspire new possibilities and make meaningful connections with unmatched warmth‘ in a town hall to employees of both airlines, elaborating on the focus areas of integration, growth and transformation, the inflection point that the airline is on, and the aspirations and ambitions for growth.

Talking about the vision, differentiators and path ahead, Aloke Singh, Managing Director, Air India Express and AIX Connect, said, “Our resolute vision encapsulates our key differentiators – making meaningful connections, delivering unique experiences and providing best-in-class value with Indian warmth. Our ambitions will ride upon our huge fleet and network expansion, in the domestic India market as well as short-haul international region – Unlocking synergies with the merger of the two entities, and network integration with Air India; Growth and expansion, for a meaningful market presence as well as cost-efficiencies; and Achieving excellence in all areas, becoming a preferred brand for a confident new India.”

The differentiators detail the airline’s business model and brand promise in the run up to the brand launch of Air India Express, expected to be unveiled within the next couple of months:

Meaningful Connections: Nurture ‘meaningful connections’ that transcend borders, bringing people, communities, and cultures closer together, to embody the spirit and diversity of India, making every journey a delightful and memorable travel experience.

Unique Experiences: Curate and deliver ‘unique experiences’ with unmatched Indian warmth, leveraging technology to make journeys frictionless and personalised. The product offerings and service experience will embody the warmth of Indian hospitality, with services like Gourmair, the airline’s award-winning in-flight dining brand, curated to cater to diverse culinary preferences with a wide range of regional and healthy hot meals and lite bites.

Best-in-Class Value: The pursuit of ‘best-in-class’ value goes beyond the fundamentals of cost and business model, offering customisable and relevant services for each guest and journey, based on their preferences and aptitude, while retaining consistent and reliable operational efficiency.

Specific projects have been identified to achieve these aspirations, focussing on enhancing the guest experience, optimising the network for market dominance, streamlining operations with a digital-first approach, fostering talent with an innovative and winning culture, and creating value for all stakeholders through sustainable practices, transparent decision-making, and prudent governance.

Earlier this year, AIX Connect and Air India Express launched the unified website, airindiaexpress.com, allowing users to book and manage services from both airlines on domestic and international sectors; common social media handles (airindiax) and support channels; and an integrated Passenger Service System. Both airlines have also synergized a host of other ancillary add-on services and sub-brands, including Gourmair in-flight dining, Xpress Prime seats, and Xpress Ahead priority services. The airlines also recently announced the harmonisation of new grades, compensation, and benefits with Air India, enabling a unified structure and streamlining career paths across the Air India group.

About Air India Express and AIX Connect

Air India Express and AIX Connect, are subsidiaries of Air India, together operating over 300 flights daily across 30 domestic and 14 international airports, with a fleet of 54 aircraft, comprising 26 Boeing 737s and 28 Airbus A320s. The airlines offer comfortable seats, Gourmair hot meals and Xpress Ahead priority services, with the promise of fast bookings, fab deals and fantastic value on its award-winning website, airindiaexpress.com.

Established in 2005, Air India Express is the market leader on routes between India and the GCC, with a network spreading over 34 destinations, including India, the Middle East and Singapore. In January 2022, Air India Express, together with Air India, was successfully privatised, with ownership returning to the Tata group that had initially founded Air India.

AIX Connect Private Limited (currently operating as AirAsia India), was launched in 2014, operating as a joint venture between Tata Sons and AirAsia Aviation Group. The airline flies over 50 direct and 100 connecting routes across 19 destinations in India, offering pioneering in-flight entertainment AirFlix, and a host of exclusive loyalty benefits for members of the Tata NeuPass rewards program. In November 2022, AIX Connect became a wholly-owned subsidiary of Air India.

For media queries, please contact:

Air India Express
PG Prageesh
pg.prageesh@airindiaexpress.com
Rohit Kumar
rohitkumarsingh@airasia.co.in

Adfactors PR
Abreshmina Quadri (National): +91-8826721799
Jeevan Chandy (Kochi): +91-9447302033
airindiaexpress@adfactorspr.com

Hospitality and Travel sector job roles in Singapore see 8% growth in hiring: foundit Insights Tracker

The country’s annual hiring activity dipped by 14%, however hiring in the Hospitality, Travel, Real Estate, and Healthcare sectors remain positive
Import/Export, Oil & Gas, Retail/Trade, and Logistics industries in Singapore have maintained a steady and gradual online hiring activity over the last few months

SINGAPORE, Sept 4, 2023 – (ACN Newswire) – foundit (formerly Monster APAC & ME), one of the leading talent platforms, today published the foundit Insights Tracker (fit) for July 2023, formerly published as Monster Employment Index (MEI). According to the Singapore fit report, job roles in Hospitality, Travel, and Real Estate have impressively grown by 8% over the past year.

Additionally, the tracker recorded a 14% dip in hiring activity, as the index climbed down from 139 in July 2022 to 120 in July 2023. The tracker also revealed that it has become more challenging over the last six months, witnessing a 6% decline in job demand. Despite the country’s moderate economic growth, the labour market revealed an optimistic hiring outlook for professionals in Hospitality & Travel, Real Estate, and Healthcare fields.

Commenting on the Singaporean job trends for July 2023, Sekhar Garisa, CEO, foundit, said, “Although the labour market revealed signs of vulnerability that resulted in a subdued rate of hiring, Singapore has showcased tremendous resilience in certain sectors and job roles. Singapore is an international hub for hospitality & tourism, and there is always enough scope for growth. The island city lures visitors and businesses from around the globe, which is also a testimony to the increase in job demand in the import/export sector. We expect to see better hiring intentions in the coming quarter as companies also revisit their talent requirements. “

Import/Export sector leads in hiring activity, while IT, Telecom/ISP, and Production/Manufacturing witness a significant drop in hiring activity

The fit revealed that 3 out of 15 industry sectors monitored by the tracker saw growth in online recruitment activity between July ’22 and July ’23. While the Import/Export (+2%) sector experienced a slight increase in job demand, showcasing a subtle uptrend attributed to the growth in Singapore’s total merchandise trade in the first quarter of 2022, particularly in the import of food and healthcare products. Oil & Gas (0%) sector and Retail/ Trade and Logistics (0%) sector exhibited stability with no change in job demand compared to the previous year.

However, a few other significant sectors experienced a decline in online recruitment activity. IT, Telecom/ISP, BPO/ITES, and Production/ Manufacturing sectors witnessed a significant reduction in hiring by (-26%) and (-20%), respectively. These downturns can be linked to the challenges posed by global uncertainties, contributing to the pronounced impact on these sectors. Other notable industries also experienced a lower level of opportunities compared to the previous year, such as Shipping/ Marine (-2%), Hospitality (-3%), Healthcare (-3%), Consumer Goods /FMCG (-5%), Engineering, Construction and Real Estate (-6%), BFSI (-13%), and Education (-14%).

Hospitality & Travel job roles, Real Estate, and Healthcare professionals lead the hiring trends

In terms of functional roles, Hospitality & Travel and Real Estate professionals saw the most significant demand in July ’23. They recorded a growth rate of (+8%) driven by the surging demand from both international visitors and local patrons. Also, the soaring prices for residential properties and the apprehension about future price escalation prompted individuals to purchase, which has led to a high demand for Real Estate (+8%) professionals. Singapore is also a country that pushes for new technology innovations and artificial intelligence in healthcare. The year registered a (5%) increase in hiring healthcare professionals from the year-ago level.

On the other hand, job roles in the software, hardware, and telecom industries experienced a significant 35% decline Y-o-Y, owing to the dip in industrial production in the country. Industrial production logged the tenth consecutive month of contraction, which affected job roles, including Marketing & Communications (-18%) and Legal (-12%). These three functional roles showcased one of the most substantial annual drops in e-recruitment activity. The job roles in HR & Admin (-1%) and Customer Service (-5%) dipped annually; however, they maintained stability, retaining a similar level to the previous month. In contrast, professionals in Engineering/ Production (-7%), Sales & Business Development (-8%), Purchase/ Logistics/ Supply Chain (-9%), and Finance & Accounts (-9%) projected negative growth but have improved over the last month in July ’23.

About foundit Insights Tracker

The foundit Insights Tracker (fit) is a comprehensive monthly analysis of online job posting activity conducted by foundit.in. Based on a real-time review of millions of job listings from a wide range of online career platforms, the index offers a snapshot of online recruitment activities nationwide. Previously known as the Monster Employment Index, it provided a comprehensive perspective on hiring patterns based on industry, role, location, and experience. Now, in its new avatar, it delivers more detailed insights on recruitment trends, focusing on the demand for specific skills, available positions, and the salary ranges in the market.

Period for the report

The period considered for the foundit Insights Tracker (fit) data is July 2022 vs. July 2023.

About foundit – APAC & Middle East

foundit, formerly Monster (APAC & ME), is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has assisted over 75 million registered users to find jobs, upskill, and connect with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in the world of recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalized job searches, and precision hiring. foundit strongly believes that a job title doesn’t define one’s potential and leverages technology to dig deeper to curate opportunities central to the needs and aspirations of each user.

Contact
Namrata Sharma
Namrata.sharma@adfactorspr.com
+6581383034

Lincotrade Delivers Strong Performance for FY2023 with Revenue Surging 78.0% to S$69.9 Million

SINGAPORE, Aug 30, 2023 – (ACN Newswire) – Lincotrade & Associates Holdings Limited, ("Lincotrade" or the "Company" and together with its subsidiaries, the "Group"), a specialist in interior fitting-out services, is pleased to announce its full year financial results ended 30 June 2023 ("FY2023"), following the completion of the reverse takeover ("RTO") of Fabchem China Limited on 3 August 2022.

Highlights:
– Excluding the one-off non-cash RTO-related expenses, the Group's profit before tax in FY2023 was S$2.8 Million, a year-on-year increase of 168.2%
– Strong performance from the Group's commercial and showflats business segments, which posted revenue growth of 58.7% and 357.3% respectively, propelled the Group's revenue growth in FY2023
– Generated net cash flow of approximately S$4.7 million from operations during FY2023
– Total assets increased 26.5% to approximately S$35.1 million, of which cash and cash equivalents increased by 104.5% to approximately S$12.7 million as at 30 June 2023
– The Group's order book stood at approximately S$58.0 million as at 30 June 2023
– Aiming to expand its order book with a healthy pipeline of new projects, the Group expects the demand for its interior fitting-out services in 2023 to remain strong in view of the projections of Singapore's Building and Construction Authority ("BCA"), where the total construction demand in 2023 is projected to range between S$27 billion and S$32 billion

Commenting on its FY2023 results, Managing Director of Lincotrade, Mr. Tan Jit Meng said: "FY2023 marks a new milestone in Lincotrade's history as we completed our RTO and transition into a listed company in our corporate journey.

We look back on a strong first year of listing with good performance across the Group, both operationally and financially, which reflects our core competencies in project management and execution.

With diversity in our business model that has three different business categories, Lincotrade is well-positioned to continue our momentum of organic growth that aligns, and we aim to supplement that growth with a disciplined financial approach.

The positive outlook of Singapore's construction market reaffirms Lincotrade's positive trajectory and reinforces our belief in our ability to achieve a stronger growth profile ahead."

Propelled by higher revenue contribution from the Group's commercial and showflats business segments, the Group's revenue surged by approximately S$30.6 million or 78.0%, to approximately S$69.9 million in FY2023: Lincotrade is engaged in the provision of interior fitting-out services, additions and alterations ("A&A") works and other building construction services primarily for three business segments, commercial, residential and showflats.

As part of the Group's strategic plans to increase revenue contribution from its commercial segment, the Group has been focused on securing more commercial projects in Singapore and as a result, there was a higher percentage of revenue contribution from some of the Group's larger commercial projects in FY2023. There was also increased revenue from larger showflats projects in FY2023 while majority of the Group's residential projects were substantially completed before 30 June 2022.

As a result, revenue contribution from the Group's commercial and showflats business segments increased by approximately S$17.9 million or 58.7% and approximately S$14.1 million or 357.3% respectively in FY2023.

Gross profit increased by approximately S$2.6 million or 55.0% in FY2023 to S$7.3 million despite lower gross profit margin: Corresponding to increased revenue growth in FY2023, the Group's gross profit increased to approximately S$7.3 million in FY2023. However, the Group's gross profit margin dipped 1.5 percentage points to 10.4% in FY2023 (FY2022: 11.9%), mainly due to higher proportion of revenue contribution from the showflats business segment, which registered lower gross margin in FY2023.

One-off non-cash RTO expenses of approximately S$10.8 million includes the deemed RTO expenses of approximately S$9.6 million, share-based payment to the Sponsor and Arranger of approximately S$1.2 million: With the completion of the RTO on 3 August 2022, the Group recognised the one-off non-cash RTO expenses in accordance with the Singapore Financial Reporting Standards (International) in FY2023.

Excluding the one-off non-cash RTO expenses, Lincotrade would have recorded an adjusted profit before tax of approximately S$2.8 million for FY2023, representing a growth of 168.2% as compared to FY2022.

Generated net cash of approximately S$4.7 million from operations during FY2023: The Group recorded operating cash flows before working capital changes of approximately S$3.5 million and net cash of approximately S$4.7 million generated from operating activities during FY2023.

During FY2023, the Group used net cash of approximately S$0.3 million in investing activities and there was net cash outflow of approximately S$0.6 million from financing activities.

Overall, the Group registered a net increase of approximately S$3.8 million in cash and cash equivalents during FY2023.

Total assets increased 26.5% to approximately S$35.1 million, of which cash and cash equivalents increased 104.5% to approximately S$12.7 million as at 30 June 2023: The Group's total assets comprise non-current assets of approximately S$4.4 million and current assets of approximately S$30.6 million as at 30 June 2023.

The key components of non-current assets are property, plant and equipment of approximately S$1.4 million and non-current portion of trade and other receivables of approximately S$3.0 million. The key components of current assets are cash and cash equivalents of approximately S$12.7 million, contract assets of approximately S$5.3 million and current portion of trade and other receivables of approximately S$11.2 million.

As at end June 2023, the Group's total equity stood at approximately S$8.8 million and total liabilities amounted to approximately S$26.3 million, of which total non-current liabilities is approximately S$1.7 million and current liabilities is approximately S$24.6 million. The key components of current liabilities are trade and other payables of approximately S$11.7 million and other financial liabilities of approximately S$11.6 million.

Positive industry outlook in Singapore: According to a media release by BCA issued on 12 January 2023, it projects the total construction demand in 2023 (i.e. the value of construction contracts to be awarded) to range between S$27 billion and S$32 billion.

The public sector is expected to contribute about 60 per cent of the total construction demand, between S$16 billion and S$19 billion. Private sector construction demand is projected to be between S$11 billion and S$13 billion in 2023.

Over the medium-term, BCA expects the total construction demand to reach between $25 billion and $32 billion per year from 2024 to 2027. Private sector construction demand is projected to remain steady over the medium-term, reaching approximately S$11 billion to S$14 billion per annum from 2024 to 2027, in view of healthy investment commitments amid Singapore's strong economic fundamentals.

As at 30 June 2023, the Group's order book stood at approximately S$58.0 million which generally will be fulfilled during the next two years.

With an aim to expand its order book with a healthy pipeline of new projects, the Group continues to proactively tender for new projects in Singapore, particularly those that are larger in terms of scale and contract value. In January 2023, the Group secured an Asset Enhancement Initiative ("AEI") for an integrated development in Singapore with a contract value of approximately S$35.0 million, the largest single contract secured by the Group to date.

About Lincotrade

Established in 1991 and based in Singapore, Lincotrade has over 30 years of experience in the interior fitting-out industry and have established a proven business track record since its inception. Since 2006, Lincotrade has had its own in-house processing facility to process, assemble and manufacture Carpentry Products to support and complement its interior fitting-out services.

Lincotrade's interior fitting-out projects encompass space planning and lay-out, interior construction and finishing works on floorings, ceilings, partitions, doors, fixtures and fittings, mechanical, electrical and plumbing works such as air-conditioning installation, water and sewage fit-outs, lighting, power and other works. Lincotrade also provide A&A works include minor alterations, extension, conversion and upgrading of buildings as well as minor repair and improvement works. In addition, Lincotrade provide building construction services which mainly consist of the construction of showflats and sales galleries.

For more information, please visit http://www.lincotrade.com.sg.

Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

B20 India follow-on: Pertamina to develop Bioenergy-Based Fuels, toward Energy Independence

NEW DELHI, Aug 29, 2023 – (ACN Newswire) – Pertamina will continue to develop bioenergy-based fuels, using natural resources such as sugarcane, corn, cassava, and sorghum. "Our energy will eventually be bioenergy-based, as Indonesia has abundant resources," said Nicke Widyawati, President Director of Indonesia's Pertamina.

Prime Minister Modi addressing the B20 Summit India 2023 on Aug 27. Since taking the B20 mantle from Indonesia in December, 2022, India has worked with business leaders from all G20+ countries through seven task forces and two action councils.

Nicke Widyawati, President Director of PT Pertamina, as Co-Chair for the B20 Task Force on Energy, Climate Change and Resource Efficiency, ensures regional continuity and follow-on from the B20 Indonesia 2022 to B20 India 2023.

"I met with several Indian bioethanol tech representatives in New Dehli as our byproducts can be processed in Indian companies, to follow-up and align our efforts."

According to Nicke, the bioenergy development offers many benefits in accelerating the energy transition. "For Pertamina, bioenergy is not only about reducing emissions but also decreasing import dependency and creating job opportunities. When we promote plantations, we increase work for a significant amount of the workforce."

Pertamina sees that to enhance energy independence, it must optimize Indonesia's natural resources. "It's truly sustainable when we have resources," she explained.

Nicke, as Co-Chair for the B20 Task Force on Energy, Climate Change and Resource Efficiency ensures continuity in agendas for B20 Bali and B20 India. Firstly, new & renewable energy. Secondly, a fair and affordable transition. Thirdly, developing countries with large populations such as India and Indonesia, must provide equal access to clean and affordable energy.

"We cannot do it alone; no country can do it alone. Hence, global cooperation is vital. Pertamina itself has initiated several endeavors in the context of global cooperation for energy transition," Nicke affirmed.

Vice President of Corporate Communication at Pertamina, Fadjar Djoko Santoso, stated that Pertamina is increasingly dedicated to developing energy transition initiatives following global trends.

"Pertamina is pursuing energy transition to achieve national energy resilience, accessibility, affordability, acceptability, and sustainability. In the short term, energy transition will not disrupt energy resilience; on the other hand, it can achieve carbon emission reduction targets," said Fadjar.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.

Media Contact:
Fadjar Djoko Santoso
Vice President Corporate Communication
PT Pertamina (Persero)
M: +62 813-2063-0765
E: fadjar.santoso@pertamina.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

B20 India Summit: MSMEs Need Access to Funding and Technology to Accelerate Energy Transition

New Delhi, India, Aug 25, 2023 – (ACN Newswire) – The energy transition in Indonesia must involve MSMEs, which play a significant role in Indonesia's economic growth. Thus, access to funding and technology is necessary for MSMEs to fully perform their roles as providers of community needs and job opportunities, enabling rural communities to increase their income.

Oki Muraza, Senior Vice President, Research & Technology Innovation at PT Pertamina (L), during the Sustainability Summit B20 held in New Delhi, India (8/24). (Image: Pertamina)

In his presentation at the BNEF forum in New Delhi on August 24, 2023, Oki Muraza, Senior Vice President of Research & Technology Innovation of Pertamina, emphasized MSME involvement's importance in Indonesia's energy transition. He stated that community participation is vital in supplying the raw materials for low-carbon energy development. This process also creates job opportunities for the public while corporations benefit from carbon credits.

"The challenge lies in providing capital or funding and technology access to MSMEs, allowing them to effectively contribute to the energy transition and benefit both the community and corporations," said Oki.

As a developing country rich in natural resources, Indonesia encourages developed nations to provide funding to developing countries, enabling them to develop technology and its implementation with the assistance of countries that possess resources.

"Currently, there is a global economic gap between highly developed and developing nations. Highly developed countries have a GDP per capita of over USD 50,000, while developing countries like Indonesia have a GDP per capita of under USD 5,000. We hope this Capital Flow serves as a form of CBDR (Common but Differentiated Responsibilities)," added Oki.

Oki explained that by involving MSMEs in this energy transition, Indonesia aims to combine international aid, creating job opportunities for the public and benefiting companies in expediting the energy transition.

"We hope that the energy transition in Indonesia can serve as a role model for involving communities, generating employment opportunities, increasing rural incomes, and achieving a Nature-Based Solutions-guided energy transition," Oki stated.

Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, highlighted that MSMEs are the backbone of the national economy and a significant source of employment, underscoring their vital role in accelerating the energy transition.

"Pertamina has initiated the Desa Energi Berdikari program in 52 regions to provide access to renewable energy for MSMEs and communities, enabling them to become energy-independent," stated Fadjar.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.

Media Contact
Fadjar Djoko Santoso
Vice President of Corporate Communication
PT Pertamina (Persero)
M.: +62 813-2063-0765
E.: fadjar.santoso@pertamina.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

As International Revenue Soars to $650M with 45% from SEA; Chiratae Expands SEA Regional Advisory Board with the addition of Mr. Puneet Pushkarna

SINGAPORE, Aug 24, 2023 – (ACN Newswire) – Chiratae Ventures, a leading venture capital firm, announces the appointment of Mr. Puneet Pushkarna to its esteemed Regional Advisory Board, reinforcing its commitment to the Southeast Asia (SEA) market.

The announcement comes soon after Chiratae’s significant milestone -its active portfolio companies surpass $650 million in revenue. Companies focusing on SEA or headquartered now contribute about 45% of the total international revenue across the company’s diverse portfolio. Companies such as Active.ai, Kristala.ai, and Lenskart have driven growth in the SEA market, with Lenskart’s strategic acquisition of Japan’s Own Days last year as a recent highlight.

Given the growing significance of SEA as an investor base and a burgeoning market, Chiratae Ventures has been active in the region, particularly in Singapore and Japan. The appointment of Puneet Pushkarna to the Regional Advisory Board reinforces Chiratae’s dedication to its growth and success in SEA. Puneet will provide strategic guidance to Chiratae’s international operations in this role.

*Mr Puneet Pushkarna (L) joins the Regional Advisory Board of Chiratae Ventures. In the picture with Mr Sudhir Sethi (R), Founder and Chairman of Chiratae Ventures.*

Sudhir Sethi, Founder and Chairman of Chiratae Ventures, shared, “With a strong foothold in the SEA market and our portfolio companies, either focusing on the region or being headquartered there, contributing over 45% of the total revenue, we are thrilled to welcome Puneet Pushkarna to our Regional Advisory Board. Puneet’s addition further bolsters our already formidable Advisory Board, whose collective efforts have significantly established Chiratae as one of India’s premier venture capital funds. His exceptional expertise and diverse background will undoubtedly guide our ventures to even greater heights within the Asian market while fostering stronger connections with our esteemed investors.”

Puneet Pushkarna brings a wealth of experience, currently serving as a General Partner at Solmark, a prominent private equity fund based in Singapore. Throughout his career, Puneet has excelled in nurturing and scaling companies in the competitive global landscape. He previously held the position of President at Headstrong, driving transformative initiatives in the Capital Markets domain through cutting-edge digital technology services. Additionally, Puneet co-founded TechSpan, backed by the prestigious institution Goldman Sachs, where he successfully led business solutions consulting and design thinking ventures, earning recognition as one of the fastest-growing companies in Silicon Valley.

Beyond his business acumen, Puneet is deeply involved in various Boards and Advisory Boards, including his role as Chairman of Core Committee, RIE2025, National Research Foundation, Singapore, Chairman Emeritus of TiE Singapore, and as a Board member of IIM Nagpur and Industry Advisory Board of SP Jain School of Management. Additionally, Puneet serves as a Catalyst at SMART (Singapore MIT Alliance for Research & Technology) and actively engages in philanthropic efforts, supporting initiatives such as the Indian Foundation for the Arts (IFA), the Singapore Indian Fine Arts Society (SIFAS), and the South Asian Heart Society.

Puneet Pushkarna shared his excitement for the new role, adding, “I am honoured to join Chiratae Ventures and contribute to the growth of the platform they have built over close to two decades and its dynamic portfolio in Asia region. There are strong benefits for the Asian block to partner, invest and grow exponentially by understanding each other’s strengths and hope to bridge the gap. The Indian model of solving for population-scale problems using technology-led business models has relevance for the larger region and hoping to help Chiratae and its portfolio expand its regional footprint”

Anoop Menon, Principal-Investments who also leads Investor Relations in the East Asian region, says, “With the changing geo-political environment and India’s blistering economic growth, India has become a strong contender for increased investments and business partnership within Asia. Along with this, there is a strong need to contextualise the India narrative by a leader who has seen both sides closely, and Puneet helps us do that. Having him on our Advisory Board provides a valuable sounding board for our team and founders as we navigate the markets in Singapore, Japan, and other regions of Asia Pacific.”

Chiratae Ventures, recently announced the final close of its first Growth fund at $122 M, oversubscribed by 34% and is in the market for its next flagship Venture capital fund. It will continue looking to cement its presence in SEA and the larger Asian region, and Puneet will help strengthen the firm’s position as a leader in the Venture capital landscape.

About Chiratae Ventures:

Chiratae Ventures is a 16-year-old Indian technology venture capital fund advisor, having advised funds that collectively (across six funds) have $1.1 Bn AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to LPs in each of the last 12 years. The funds advised by Chiratae Ventures have investments across sectors such as Consumer-Tech, SaaS, Fintech, and Healthtech and have been early backers of companies such as Bizongo, Fibe, FirstCry, Flipkart, Lenskart, Myntra, Pixis, PolicyBazaar and Uniphore, amongst many others.

For media inquiries, please contact:

Tanvi Dubey
Chiratae Ventures
+91-8792059986

Neha Chaturvedi
Adfactors PR
+65- 87098749

Pertamina’s Steps in Facing Global Energy Challenges

New Delhi, India, Aug 24, 2023 – (ACN Newswire) – After the severe impact of the Covid-19 pandemic, the world is once again confronted with geopolitical tensions in Eastern Europe, giving rise to new challenges such as price volatility, supply scarcity, security issues, and economic uncertainties that contribute to the global energy crisis.

Oki Muraza, Senior Vice President, Research & Technology Innovation at PT Pertamina (2-L), during the Sustainability Summit B20 held in New Delhi, India (8/22). (Image: Pertamina)

Oki Muraza, PT Pertamina, explained that political tensions in Europe have led to dangerous increases in energy prices, posing a threat to energy security and resilience in countries like Indonesia.

Oki Muraza, Senior Vice President, Research & Technology Innovation at PT Pertamina (Persero), explained that the political tensions in Europe have led to dangerous increases in energy prices, posing a threat to energy security and resilience in Indonesia.

"So, we must strive to enhance our energy resilience while working to achieve sustainability goals. How can we reduce emissions and increase the volume of green energy businesses, environmentally friendly electricity, and more," said Oki Muraza during the Sustainability Summit B20 held in New Delhi, India (8/22).

According to Oki, before the geopolitical crisis, Europe was one of the leaders in transitioning toward sustainability. However, with the decline in energy security, where Europe is once again importing energy sources like coal, there's a shift in the energy mix that affects the world.

To anticipate this, developing countries like Indonesia and India with lower incomes should collaborate with advanced nations, primarily in capital or financing.

"Collaboration is crucial to address this issue. We have some examples, such as partnering with Japan for CO2 Injection in the Jatibarang field and later in the Sukowati field. Pertamina will continue to expand collaborations, involving substantial international funding, to support the energy transition in Indonesia," he added.

Furthermore, Oki emphasized that technology development is key in the energy transition, as it improves economic viability. Within the Pertamina Group, there are eight initiatives divided into three blocks.

Firstly, Pertamina's efforts to generate green energy, sourced from geothermal power, reached 672 Megawatts under its management and 1.2 GW in partnership. Besides producing environmentally friendly electricity, Pertamina in the geothermal fields is also developing Green Hydrogen, which holds great potential for export markets.

Secondly, Variable Renewable Energy, such as solar PV, changes over time. These variable RE sources should be integrated with the Grid and Energy storage, commonly known as batteries.

The third block involves harnessing the abundant energy resources in Indonesia, such as rainfall, solar radiation, and biomass. These resources are processed simultaneously. Some could become vegetable oil, green diesel, or bioethanol mixed with gasoline.

"How can we refine them into lower-emission fuels, utilizing the current infrastructure with lower emissions," Oki explained.

In line with this, Valentin de Miguel, Senior Managing Director of Growth & Strategy Lead Growth Market, explained to address global energy challenges, developing countries must earnestly focus on implementation and execution.

"Therefore, it's imperative to drive innovation, research, and analysis of alternative fuel technology reliability, like hydrogen, ammonia, and especially carbon capture. These three major technologies are essential for progress," Miguel stated.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations. www.pertamina.com.

Media Contact
Fadjar Djoko Santoso
Vice President of Corporate Communication
PT Pertamina (Persero)
M. : +62 813-2063-0765
E. : fadjar.santoso@pertamina.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Pertamina’s Innovations Support Energy Transition in Indonesia

New Delhi, India, Aug 23, 2023 – (ACN Newswire) – As a state-owned energy company, PT Pertamina (Persero) continues to develop technological innovations for operational decarbonization to support Indonesia's energy transition. This commitment was emphasized by Oki Muraza, Senior Vice President of Research & Technology Innovation of Pertamina, during his participation in the B20 Sustainability Summit in New Delhi, India, from August 22 to 27, 2023.

Pertamina's Oki Muraza, Senior Vice President of Research & Technology Innovation, during the B20 Sustainability Summit in New Delhi, India, from August 22 to 27, 2023. [Image: Pertamina]

Oki Muraza explained that Pertamina's operational decarbonization is focused on Carbon Capture Utilization and Storage (CCUS/CCS) technology development and Biofuel. [Image: Pertamina]

Oki Muraza explained that Pertamina's operational decarbonization is focused on the Carbon Capture Utilization and Storage (CCUS/CCS) technology development and Biofuel. "Pertamina has the initiative to implement CCS or CCUS through CO2 injection technology, first applied at the Jatibarang Field in West Java. This technology could enhance oil and natural gas production through CO2-EOR while significantly reducing greenhouse gas emissions," stated Oki.

Oki continued that in addition to carbon capture and utilization technology to support the energy transition, Pertamina is also committed to developing Bio Refineries or Green Refineries to produce more environmentally friendly fuels. 'These green refineries process renewable raw materials such as palm oil (RBDPO) and used cooking oil (UCO)," he added.

Currently, according to Oki, Pertamina's operational Bio Refineries include the Cilacap Bio-Refinery and Dumai Bio-Refinery, which produce HVO (Hydrotreated Vegetable Oil), Green Gasoline, and the Plaju Bio-Refinery and Cilacap Bio-Refinery, Green Diesel at the Dumai Bio-Refinery, as well as Green AvturJ2 at the Cilacap Bio-Refinery.

"We also aim to implement bioethanol, using various raw materials, including waste from palm oil such as Oil Palm's Empty Bunches," Oki added.

According to Oki, the Covid-19 pandemic and geopolitical tensions have significantly impact global energy price volatility, supply shortages, security issues, and economic uncertainties, causing a shift in the short-term focus of energy transition towards energy resilience.

"While developed countries focus on sustainability, developing countries prioritize energy security and affordability, as they act as catalysts for economic growth," he conveyed.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.

Media Contact;
Fadjar Djoko Santoso
Vice President of Corporate Communication
PT Pertamina (Persero)
M. : +62 813-2063-0765
E. : fadjar.santoso@pertamina.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Pertamina explores energy cooperation in Africa, supports President’s visit

NAIROBI, Kenya, Aug 23, 2023 – (ACN Newswire) – PT Pertamina (Persero) and its sub-holdings have initiated several potential strategic collaborations with several energy companies in Africa, including in the upstream oil and gas sector, infrastructure development, processing refineries, potential downstream product distribution collaborations, and the development of new and renewable geothermal energy.

Kenya: Pertamina Geothermal Energy (PGE) Tbk, signed an MoU with Africa Geothermal International Limited (AGIL) on August 20, for technology development and resource utilization in geothermal.

Several collaborations were launched by the Pertamina Group in Africa, along with the visit of the Indonesian President, Joko Widodo, on August 20 – 24, 2023. [Image: Pertamina]

In Kenya, Pertamina, through PT Pertamina Geothermal Energy (PGE) Tbk, signed a Memorandum of Understanding (MoU) with Africa Geothermal International Limited (AGIL) on Sunday, August 20, 2023, for technology development and resource utilization in geothermal. With this collaboration, PGE will have the opportunity to study infrastructure development, implement geothermal technology in Indonesia, and expand geothermal development in Kenya.

"Several collaborations that will be launched by the Pertamina Group in Africa, along with the visit of the President of the Republic of Indonesia, Joko Widodo, on August 20 – 24, 2023, will become one of the mainstays in the energy sector for the country. This collaboration can strengthen cooperation between African countries and globally," President Director of Pertamina Nicke Widyawati said during her visit to Kenya, Africa, on Monday (21/8).

In the upstream business, the upstream sub-holding subsidiary, PT Pertamina Internasional EP (PIEP), is exploring the potential for cooperation with the National Oil Corporation of Kenya (NOCK). This exploration is the first step for Pertamina's upstream footprint abroad, strengthening national energy security.

"Spirit brings the barrel home; Pertamina's footprint in the upstream sector is to increase production so that it can be processed at Pertamina's domestic refineries," Nicke said.

Nicke revealed that Pertamina also has opportunities to expand in various energy fields with the government-to-government (G-to-G) collaboration between the Government of Indonesia and the Government of Kenya. This bilateral cooperation also opens investment opportunities and collaboration for Pertamina in the African region.

"We appreciate the role of the government, including the Coordinating Ministry for Maritime Affairs and Investment, the Ministry of Foreign Affairs, and the Ministry of Energy and Mineral Resources, in supporting Pertamina's expansion efforts on the global stage," she explained.

Before the visit, Pertamina had a Memorandum of Understanding with GUMA, an African energy company, regarding strategic alliances for potential upstream, midstream, and downstream business projects.

The collaboration includes the exploration and production of oil and gas fields, the development of oil and gas pipelines, and the development of oil and petrochemical refineries. Apart from that, Pertamina also trades petroleum products in Kenya. According to Nicke, cooperation beneficial to the Indonesian state will be prioritized in every collaboration carried out by the Pertamina Group.

"We bring the government's spirit, the spirit of the 1955 Asian-African Conference. We are now working together on economic development. Pertamina opens opportunities for cooperation in the upstream and downstream sectors, including geothermal in Kenya," Nicke said.

Meanwhile, Vice President of Pertamina, Fadjar Djoko Santoso, added that Pertamina had brought several sub-holdings to explore the potential for cooperation in Africa. These collaborations will further strengthen national energy security and realize the company's role as a global energy company. "We are open to all business cooperation opportunities that positively impact Pertamina and the country," Fadjar said.

Pertamina, as a leader in the field of energy transition, is committed to supporting the Net Zero Emissions 2060 target by continuing to encourage programs that have a direct impact on the achievement of the Sustainable Development Goals (SDGs). These efforts align with implementing environmental, social, and governance (ESG) in Pertamina's business lines and operations.

Media Contact:
Fadjar Djoko Santoso
Vice President Corporate Communication
PT Pertamina (Persero)
M. : +62 813-2063-0765
E. : fadjar.santoso@pertamina.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Exciting New Chapter Unveiled as YanaTV a YouTube Channel Takes Off Amidst Glitz and Glamour

SINGAPORE, Aug 23, 2023 – (ACN Newswire) – The digital entertainment landscape just got a whole lot more intriguing with the much-anticipated launch of the YanaTV YouTube channel. On this auspicious occasion, a star-studded gathering of local celebrities, friends, and well-wishers converged at the Retro Bar, Lofty Peaks to celebrate the beginning of an exciting new journey in the realm of online content. Present for the launch party were Yana Fry, Host and Founder of YanaTV, David Bachmann, Austrian Trade Commissioner for Singapore, business leaders, diplomats and ambassadors, famous writers, speakers, partners, and friends. The link to the channel is https://www.youtube.com/@yanatvsg.

(L) David Bachmann, Austrian Trade Commissioner for Singapore, Sofia Elalamy, Yana Fry, Founder- YanaTV and Ravi Chidambaram (Yana's Husband)

YanaTV, spearheaded by visionary content creator Yana Fry promises to be a dynamic and captivating addition to the YouTube universe. Offering a unique blend of entertainment, education, and inspiration, the channel aspires to become a haven for viewers seeking quality content that resonates with a global as well as ASIA audience.

Amidst a live talk show and some fun roasts with guests,attendees were treated to an enchanting evening filled with joy, laughter, and a palpable sense of anticipation. Distinguished local celebrities, known for their contributions to various facets of the entertainment industry, graced the event and shared their excitement for YanaTV's promising future. The gathering was a testament to the wide-ranging support and anticipation that the channel has garnered even before its official launch.

As guests mingled around sharing their experiences Yana Fry took to the stage to express gratitude to everyone who had supported the channel's journey from inception to this remarkable milestone. "YanaTV is more than just a channel; it's a community where ideas, stories, and experiences converge to create something truly extraordinary. We are committed to delivering content that engages, enlightens, and entertains, and we can't wait to embark on this adventure with all of you," Yana Fry, Host and Founder stated passionately.

The event featured a sneak peek of some of the captivating content that viewers can expect from YanaTV. Ranging from thought-provoking documentaries to light-hearted entertainment, the channel promises to cater to diverse interests and age groups. The launch of YanaTV marks a significant step in the digital entertainment arena, highlighting the power of innovative content and community engagement. With a strong emphasis on fostering a sense of connection among viewers, the channel aims to be a go-to destination for anyone seeking enriching and engaging content on YouTube.

About YanaTV

YanaTV is a groundbreaking YouTube channel by Yana Fry dedicated to delivering a diverse range of content that entertains, educates, and inspires audiences around the world. With a commitment to quality storytelling and innovative ideas, YanaTV seeks to create a global community united by the power of digital content. Yana has been a coach, speaker and facilitator in the field of human development for more than a decade and has helped leaders worldwide to unlock and embody their highest goals. She runs a company Awaken Human which has been running successfully for 11 years now. Yana has been hosting Timeless Teaching podcast which focuses on human advancement for the last 2.5 years. The podcast was one of the top 3 trending podcasts which garnered an organic follower base.

Contact:
Email- yana@yanafry.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com