DIF Capital Partners acquires US-based data center provider Tonaquint

ST. GEORGE, Utah, Jan 11, 2023 – (ACN Newswire) – DIF Capital Partners is pleased to announce that it has signed an agreement to acquire Tonaquint Data Centers, a leading data center provider in the Mountain West region in the United States, headquartered in St. George, Utah. Tonaquint's management continues to hold a minority stake. The investment will be done through DIF's core-plus CIF III fund.

Tonaquint is a colocation and cloud service provider with operations in St. George, Utah and Boise, Idaho. The company offers a comprehensive set of critical infrastructure products and services and is active in a fast-growing segment of the digital industry. The acquisition will enable Tonaquint to continue its growth, enhancing its existing facilities and expanding its service offering.

Tonaquint is mainly focusing on high-growth smaller markets, which are not as well serviced by other major data center operators. It serves a well-diversified and growing client base in the technology, healthcare, financial services, and industrial sectors.

DIF data center operating advisor Michael DeVito will be joining the Tonaquint management team to further build out the company in North America.

Willem Jansonius, partner and Head of CIF at DIF Capital Partners, commented: "Given the rapid growth of the private cloud market, Tonaquint's product offering is right where the opportunities are. Now and in the years to come. Our investment will enable Tonaquint to further build towards a leading North American data center platform. The acquisition fits DIF's ambition to further grow in the digital infrastructure space in North America and beyond by investing in small to medium-sized businesses. That's exactly why we already started expanding our capabilities and expertise in the sector a few years ago."

Matt Hamlin, co-founder and CEO of Tonaquint said: "Working with the DIF team has been such a great experience. A very experienced team and a good strategic fit as they will be able to help our management team grow Tonaquint as we have envisioned in our overall business strategy. Our goals still remain the same: provide our customers with the best infrastructure and match it with the best client experience. That's who we are."

Philip Daley, co-founder and COO of Tonaquint added: "Tonaquint's ability to build and maintain quality data centers and cloud services is now enhanced by DIF's ability to bring additional capital and expertise in digital infrastructure. We look forward to expanding our footprint and services throughout the United States."

Bank Street Group LLC served as exclusive financial advisor to Tonaquint in connection with this transaction. Agentis Capital served as an exclusive financial advisor to DIF.

About Tonaquint

Tonaquint is a leading data center provider which operates two data center facilities in St. George, Utah and Boise, Idaho. Tonaquint was founded in 2008, and entered into the Boise market in 2020 with the acquisition of Fiberpipe Data Centers, Inc. The company provides data center services to over 250 customers across its two facilities. Tonaquint provides a robust product suite including colocation, cloud services (including secure and compliant hosting for infrastructure), disaster recovery, and backup as a service, as well as ancillary network and managed services. Tonaquint has achieved strong success within its existing markets, leveraging a sales strategy focused on developing local relationships to build to a longstanding customer base. For more information please visit www.tonaquint.com.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with more than EUR 15 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds, of which DIF VII is the latest fund in the series, invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm's CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 200 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto. For more information please visit www.dif.eu.

Contact DIF:
Diederik Heinink, d.heinink@dif.eu

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

Dr. Marliyyah Mahmood discusses the Impact of Tech on Women in Northern Nigeria

ABUJA, NG, Jan 2, 2023 – (ACN Newswire) – Dr. Marliyyah A. Mahmood, Women In Tech and Project Manager for Startup AREWA, discusses how technology is enabling and enhancing women's empowerment in Northern Nigeria. She emphasizes some of the fundamental advantages of social media technologies, such as giving women access to a virtual environment where they may express themselves.

Dr. Marliyyah A. Mahmood, Women In Tech, Project Manager for Startup AREWA, spoke on how technology is enabling and enhancing women's empowerment in Northern Nigeria. [Image: Startup AREWA]

"It is impossible to overstate the importance of women in the growth of any nation, state, or community. This is to reiterate the critical role that women's education plays in long-term national development, which begins at home. Women are frequently observed to be the children's first teachers at home. A mother's influence on upbringing in any developing country, and the empowerment of women, has a significant impact on key developmental outcomes like health, education, reproductive patterns, income level, and other factors," said Dr Mahmood.

While a report from PWC in April 2020 states that 41% of micro-businesses in Nigeria are owned by women, a report in EFInA stated that 55% of the financially excluded adults in Nigeria are women, and of the 25.1 million financially excluded in the north, 13.1 million are women. Business transactions are largely cash within informal channels, as business funds are kept at home because financial institutions are concentrated in the state capital, while poor record-keeping from transacting through informal channels in turn hampers eligibility for credit.

The previous census, which was performed in 2006, indicated that women made up around 49.7% of the population of Nigeria. Despite this, Nigerian women (particularly those in the northern region) have not been able to change the long-standing status that society accords to women. There are a number of reasons why women in Northern Nigerian society are treated unequally, the majority of which can be linked to the patriarchal system in place and the general lack of gender awareness among the rural population, including women who have been socialized to accept their subordinate position.

However, with better access to information online, women have developed a greater sense of awareness. Online educational content, blogs videos and social media tools have given women access to a virtual world that provides them with opportunities for self-expression. Digital platforms are aiming to be more inclusive than ever before in light of the changing political conscience. It is now essential, not simply an option, to guarantee women's safety, inclusivity, and a voice at all intersections.

Through online workspaces, more women have recently been able to achieve financial independence. There are now more jobs available for women thanks to specific job postings on numerous online portals. Housewives or moms who have taken extended absences from the workforce now have access to special possibilities to re-enter the workforce. Many websites provide part-time and full-time occupations that people can undertake from home.

In Northern Nigeria, Startup AREWA and Financial Service Innovation (FSI) organized a virtual hackathon on financial inclusion amongst female entrepreneurs within the northern region by proffering simple and easy-to-use fintech solutions to increase more of their participation in setting up businesses. The innovative solutions developed from this hackathon were able to tackle the challenges faced by unbanked and underbanked female entrepreneurs in Northern Nigeria.

Dr. Marliyyah reveals how women now have access to a wide range of created opportunities online as a result of technology advancements. "Technology has helped women affirm their freedom of expression and right to the workforce, which they frequently find difficult to accomplish. This is a really great achievement that shows how it can be utilized to empower those with disadvantaged identities.

"However, it must not be overlooked that having internet access is necessary in order to take use of these virtual prospects. How many women and members of underrepresented groups actually have access to such technology is still an open subject. To ensure that intersectional gaps are filled and that technology and the internet are more widely available, intervention is necessary in this context."

About Startup AREWA

Startup AREWA was established to organize, empower and promote the Northern Nigeria technology and Startup Ecosystem, with the overarching goal of using technology and startups as a strategy to combat unemployment and poverty across the Northern Nigeria.

From the first Bootcamp at Bello Memorial Foundation Hall in Kaduna to a series of over 20 Bootcamps across Northern Nigeria, engaging over 5000 Startups with support from innovators and public-private leaders, Startup AREWA is implementing its strategic plan of promoting and providing real-time support to Startups.

Official website: https://startuparewa.ng
Facebook: https://facebook.com/startuparewa
Twitter: https://twitter.com/startuparewa
Instagram: https://www.instagram.com/startuparewa/
Email: hello@startuparewa.ng

For more information, please visit https://startuparewa.ng, write to contact@startuparewa.ng, or call us on +234 90 9685 9999.

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

Kingsoft Cloud’s Dual Primary Hong Kong Listing: Resilience Rooted in Technology-based Business, High-quality Development Expected from Improving Profitability

HONG KONG, Dec 30, 2022 – (ACN Newswire) – On December 30, Kingsoft Cloud (3896.HK) was officially listed on the Main Board of the Hong Kong Stock Exchange, becoming the "finale" of homecoming listing of Chinese ADRs in 2022. The dual-primary listing provides investors with greater protection and flexibility in terms of trading venues and hours, while listing by way of introduction prevents dilution and regarded as responsible for existing shareholders.

With deep devotion on and cultivation of the industry for ten years, Kingsoft Cloud adhered to building a technology-based business, stayed at the frontier of cloud-native, hybrid cloud, big data and other cutting-edge technologies, and achieved industry practice-and-technology integration. In combination with in-depth understanding of strategically selected verticals, Kingsoft Cloud accomplished fast growth in both business scale and financials. Total premium customers increased from 243 in 2019 to 597 in 2021; revenue CAGR between 2019 and 2021 was 51.3%, significantly outpacing the broader industry's 36.4%.

In the past year, the overall industry was under pressure due to market headwinds and the impact of COVID-19. Kingsoft Cloud made proactive adjustments, allocated resources in favor of more profitable products and projects to achieve improved sustainability, profitability and operating cash flow. A number of analysts noted that the Company's gross margin improved significantly in recent 3 quarters, and recorded operating cash inflow for 2 consecutive quarters, well received by the market such that the Company's share price has nearly doubled from the end of September to December 28. Analysts pointed out that such financial improvements are expected to continue, laying a solid foundation for the stock price to further recover.

Kingsoft Cloud has always been strongly supported by the strategic shareholders Xiaomi and Kingsoft Group. According to the management in recent results roadshow, Kingsoft Cloud, in its future development, will further strengthen collaboration with strategic shareholders in their digital transformation, as well as with the broader ecosystem, and actively explore opportunities in high-value verticals. It is noted that there are 800+ enterprises in the Lei Jun Ecosystem, among which Xiaomi and Kingsoft Group alone have many businesses that are inherently highly compatible with cloud computing, such as office collaboration, gaming, IoT, smartphone cloud storage and computing, as well as electric vehicle. All of these are potential growth opportunities that Kingsoft Cloud may actively explore out of its proximity advantages.

Zou Tao, Vice Chairman and CEO of Kingsoft Cloud, said, "Listing in Hong Kong is an important milestone in the Company's 10th anniversary, and the Company stands ready for the new decade. First, we will continue to invest in technology, focus on core business, and return to the essence and original aspiration of cloud; second, we will evaluate customers and projects, control costs, balance revenue scale and profitability; meanwhile, we will strengthen ecological synergy, tap into high-quality business opportunities in strategically selected verticals."

He Haijian, CFO of Kingsoft Cloud, also said, "Primary listing in Hong Kong will broaden our investor base, facilitate our participation in Hong Kong Stock Connect, and open up investment cooperation channels to more Chinese mainland investors. We will maintain the structure of the one-share-one-vote, which is rare among Chinese ADRs, and widely respect and adopt the advice of public investors. We will continue to attach importance to ESG and data security to ensure the stability and security of our services. "

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CITIC Telecom CPC Clinches Two Innovation Awards at Asia Communication Awards 2022

HONG KONG, Dec 19, 2022 – (ACN Newswire) – CITIC Telecom International CPC Limited (CITIC Telecom CPC), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited ("CITIC Telecom", SEHK: 1883) is honored to announce that it has received two major awards at the inaugural Asia Communication Awards 2022. The two awards, "AI Visual Security" for Cyber Security Award and "Cognitive Object Recognition Technology" for AI Innovation Award, recognize CITIC Telecom CPC's innovative achievements in fusing advanced technologies nurtured for years and leading the industry with game-changing innovations.

Mr. Taylor Lam, Chief Strategy Officer of CITIC Telecom CPC said, "It's truly an honor for CITIC Telecom CPC to receive Cyber Security Award and AI Innovation Award at Asia Communication Awards 2022. As cybersecurity threats are constantly evolving, it is important to be innovative and excellent in tackling ever-changing security challenges. These awards recognize the continuous contribution of our innovation team to excel at the vanguard of providing superior security and innovative solutions to enterprises by leveraging our abundant resources and experiences. They also demonstrate our commitment to embed innovation into our people and corporate culture."

"Seeing is Believing". AI Visual Security Achieves Cybersecurity Transformation

CITIC Telecom CPC's breakthrough AI Visual Security Solution has won the Cyber Security Award at Asia Communication Awards 2022. Integrating advanced and disruptive technologies, AI Visual Security Solution has transformed the current "Seeing is believing" security model with its innovative "Quick to Catch" trace. Powered by AI and Computer Vision technologies, AI Visual Security is able to SEEING potential threats, QUICKLY identify malware variants and CATCH the malware family in FAST ways, safeguarding enterprises from sophisticated malware attacks for now and the future. It embraces patented AI algorithm, decades of IT operations experience and in-depth industry expertise to reinvent industry's "Visual Capability" with outstanding performance.

AI-enabled Cognitive Object Recognition ("COR") Technology Reinvents Different Industries

CITIC Telecom CPC received AI Innovation Award for its AI-enabled Cognitive Object Recognition (COR) solutions, which run its breakthrough algorithm and technique to improve object mapping. COR technology makes a breakthrough in Smart Industry Applications, reinventing multiple enterprise sectors such as Smart Hospital and Smart Warehouse with new real-world business values. Backed by an innovative Machine Learning model using AI, Big Data analytics and Deep Learning methods to identify, locate and count objects in 93 milliseconds with 99% accuracy, COR enables Smart Hospital transformation by validating physical appearance, flagging possible deformations and function defects, which greatly enhances efficiency and reduces human errors.

In the area of Smart Warehouse, COR revolutionizes warehouse operations by allowing enterprises to conveniently use mobile phones to scan equipment barcodes, facilitating Customer End Equipment Management (CEEM), and tracking equipment location, repair status, inventory transfers, shortening delays and increasing accuracy for field engineers to locate maintenance parts such as replacements and upgrades. The Intelligent Warehouse Platform uses AI to visually recognize equipment and compute technical specifications, assisting engineers to select the correct and best component for equipment maintenance. The overall operational efficiency is enhanced by saving nearly 90% time in equipment check-in/check-out, warehouse management and optimizing CAPEX savings.

"As a global-local DICT service provider, we have always strived to develop customer-focused innovative technologies and solutions to make the greatest difference to the market. With our motto "Innovation Never Stops", we look forward to empowering enterprises through combining emerging technologies, innovation and leadership to accelerate digital transformation and create a sustainable future." Mr. Lam added.

About Asia Communication Awards
Launched in 2011, the Asia Communication Awards (ACA) recognizes the region's leading communication service providers and telecom operators as well as OEMs, suppliers, and other service providers based within the region or offering products and solutions specifically targeting the region.

About CITIC Telecom CPC
We are CITIC Telecom International CPC Limited ("CITIC Telecom CPC"), a wholly-owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serving multinational enterprises the world over by addressing their specific ICT requirements with highly scalable tailored solutions built upon our flagship technology suites, comprising TrueCONNECT(TM) private network solutions, TrustCSI(TM) information security solutions, DataHOUSE(TM) cloud data center solutions, and SmartCLOUD(TM) cloud computing solutions.

With the motto "Innovation Never Stops," we leverage innovative technologies, embracing AI, AR, Big Data, IoT, and other cutting-edge emerging technologies to transform technical potential into business value for our customers. As an enterprise digital transformation partner, we strive to help our customers achieve industry-leading positions, high agility, and cost-efficiency through digitalization.

With our Global-Local capabilities, we are committed to providing our customers with one-stop-shop ICT solutions with superior quality. Having a worldwide footprint across 150 countries, including Asia, Europe and America, Africa, the Middle East, and Central Asia, our global network resources connect over 160 points of presence (POPs), 21 Cloud service centers, 30+ data centers, and two dedicated 24×7 Security Operations Centers (SOCs). We are certified with a series of international certifications, including SD-WAN Ready, ISO 9001, 14001, 20000, 27001, and 27017, to ensure our services compliance with international standards and resources for enterprises. We offer local professional services, superior delivery capabilities as well as exceptional customer experience and best practices through our global presence and extensive industry know-how, becoming a leading integrated intelligent ICT service provider to enterprise customers.

For more information, please visit www.citictel-cpc.com

Media Contact:
Catherine Yuen
CITIC Telecom CPC
(852) 2170 7536
Email: catherine.yuen@citictel-cpc.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

World Cloud & Data Center Show accelerates Saudi Arabia’s cloud adoption initiatives

The 20th edition of the World Cloud & Data Center Show took place at the InterContinental, Riyadh, on November 28 – 29, 2022, and brought together elite IT leaders from Saudi Arabia and around the world to witness the newest advancements in cloud and data center technologies. Throughout the two days, the attendees were engaged in various activities such as high-level keynote sessions, insightful presentations, and panel discussions. Speakers discussed the latest trends in data centers, cloud computing, and IT infrastructure.

Riyadh, Saudi Arabia, Dec 15, 2022 – (ACN Newswire) – Spanning two days, the 20th edition of World Cloud & Data Center Show, focused on the Kingdom’s ability to be powered by cloud technology clubbed with data centers. The conference saw a huge gathering of elite IT leaders, international IT pioneers, and tech enthusiasts in attendance. The attendees were also presented with insights on how cloud technology and data centers can help in building a digital economy and how they can be used to drive innovation and create new opportunities in the Kingdom. The event also provided unique opportunities for the attendees to network and foster collaborations.

The event explored Saudi’s vision for a sustainable future. The segment “A Sustainable Saudi Vision” highlighted the Kingdom’s innovative efforts to advance its mission. Topics under this segment enriched audience filled with IT decision makers with the gen-next solutions set to deploy. Initiatives like ‘Cognitive Cities’, ‘Green Cloud‘, and ‘Leveraging Hyperscaler Capabilities’, were all a part of the broader conceptualization of sustainability.

After addressing the audience and outlining their initiatives for the Kingdom, Eng. Talal Al Bakr, CEO of SCCC Alibaba Cloud, Alanoud Alhudaib, Director of Cloud Advisory at SITE gave an intriguing tech talk and addressed one of the most frequently asked questions: “Is cloud for everyone?” A captivating fireside talk concentrating on AI, the edge, and 5G completed the segment. Panellists included Nizar Hussien, Presales & Product Management GM, SCCC Alibaba Cloud, and Khalid Almedbel, Digital transformation MD, MOH. The panel was moderated by Mohanad Aljabrain, Partnership & Channel Lead, SCCC Alibaba Cloud.

A notable panel discussion themed “Green is the new black” evaluated the feasibility of building environmentally friendly data centers. The conversation provided insights into the deployment of energy-efficient data centers with lower carbon footprints given the exponential demand for more data, cloud services, and data center capacity.

“It was my absolute pleasure to participate in the World Cloud & Data Center Show by Trescon. I gave a keynote speech on “Building a Sustainable Kingdom with Green Technology – Green Cloud”. Also, I had the pleasure of joining a panel discussion “Green is the New Black”; in which I enjoyed learning from experts across different industries on how they’re embedding sustainability practices to their data centers, what factors contributes to green data center and cloud computing, how to optimize data centers to save resources, and I shed light on sustainability metrics for technologies as well as how technology enables SDGs & ESGs. Thanks to the organizing team for their amazing efforts,” said Maryam Telmesani, Chair Board, CSO, Sustainability Consultant, UNGC Local Network Saudi Arabia, MBL, Moc

The panel, titled “Data Centers at the Forefront of a Data-driven Nation,” focused on the sudden increase in investments from local and international businesses to meet the data storage demands in the data center industry. It also discussed emerging technologies in data centers and how businesses can use them to harness the power of data.

“The experience was quite exceptional! I was honored to participate as a speaker on Trescon’s World Cloud & Data Center Show as a speaker at one session and a moderator at another panel session. Happy to engage with leading experts and practitioners in academia, industry, and government Authorities,” Dr. Mohammed Alaqil, Director of MSc in Electrical Engineering, Assistant Professor in Electrical Engineering Department, College of Engineering, King Faisal University.

“Advancing Cloud Revolution in Saudi Arabia” was one of the themes of the second day where an enlightening panel discussion titled “Cloud Augmented Digital Transformation” was discussed heavily. It addressed the key benefits of using the cloud as well as the flexibility that various models and services have to offer. The panel“Evolution of Data Management” provided actual use-cases on the expanding trend of cloud transformation and the movement of an increasing number of enterprises’ significant IT workloads to the cloud. In the panel’s conclusion, it emerged that cloud data mobility has evolved into a crucial aspect of cloud adoption.

“It was a great opportunity to be part of an elite panel of academicians and leaders to discuss the cloud-augmented digital transformation opportunities, challenges, current best practices, and future trends. I was honoured to represent the Prince Sultan University & Artificial Intelligence and Data Analytics Lab. Many thanks to Trescon, for organizing this fantastic event,” quoted Prof. Tanzila saba, Associate Chair, Information Systems Dept., Research Professor, AIDA Lab Leader, Prince Sultan University/CCIS College.

The “Women in Tech” segment of the World Cloud & Data Center Show played a significant role in recognizing and honouring the women who have made important contributions to the advancement of the Kingdom of Saudi Arabia’s digital future in the domains of AI, Cyber Security, Cloud Computing, Quantum Computing, and other new technologies.

Women tech ambassadors who are inspiring a thousand other women and serving as role models for global diversity in tech were awarded at the World Cloud & Data Center Show. The event also featured a strong line-up of powerful women in the tech industry who are propelling HRH Prince Mohammed bin Salman’s ambitious vision and Saudi Vision 2030 forward.

“Honored to receive the (Women in Tech) award as part of the World Cloud & Data Center Show. I’d like to thank Trescon for honoring the women tech ambassadors for their major contribution to the development of the Kingdom of Saudi Arabia’s digital future,” said Amjad Alamri – Senior Specialist, Autonomous Construction Equipment & Robotics, Design & Construction, NEOM.

“It was my absolute pleasure to participate in the World Cloud & Data Center Show, to speak about Cloud & Data Centers as Key Enablers to Building a Vibrant Digital Kingdom with the amazing Dr. Hussain AlJahdali, and Eng. Amjad Alamri. I enjoyed exchanging knowledge with various experts across different industries. I was honored to receive the Women in Technology Honorary Award among a number of astonishing ladies in the field,” expressed Dr. Duaa Abaoud – Digital Environment Director, Ministry of Municipal and Rural Affairs and Housing (MoMRAH).

The Honorary Awards Session powered by SCCC Alibaba Cloud featured:

Alia Bhanshal, AI & Data Analytics Expert & Assistant Professor, King Abdulaziz City for Science & Technology (KACST)
Amjad Alamri, Senior Specialist, Autonomous Construction Equipment & Robotics, Design and Construction (NEOM)
Maha E. M. Alqahtani, Director of Microdata, General Authority of Statistics (GASTAT)
Basma Albuhairan, Managing Director, The Centre for the Fourth Industrial Revolution Saudi Arabia (C4IR KSA)
Maryam Telmesani, Chair Board CSO, Sustainability Consultant, UN Global Compact
Mariam Nouh, VP Future Economies Sector, Cyber Security Researcher & Consultant, King Abdulaziz City for Science & Technology (KACST)
Danah Alsobayel, Cloud Computing Partnerships Director, Communications and Information Technology Commission (CITC)
Duaa Abaood, Digital Environment Director, Ministry of Municipal and Rural Affairs and Housing (MoMRAH)
Amal Bin-Eissa, Artificial Intelligence Engineer, Senior Data Scientist Member of the Advisory Committee in the College of Computer and Information sciences, Princess Noura University
Emon Shakoor, Founder & CEO of Blossom Accelerator, Venture Partner at Oryx Fund
Fatimah Aljulaih, Head of Cybersecurity, OXAGON
Mishaal Ashemimry, Special Advisor to the CEO of the Saudi Space Commission & International Astronautical Federation (IAF) Vice President for Diversity Initiative
Tanzila Saba, Associate Chair, Information Systems Dept., Research Professor, AIDA Lab Leader, Prince Sultan University/CCIS College

The renowned speakers included:

Fahad A. Alhamad, Chairman of the board, Saudi Cloud Computing Association
Simon-Timmis, Director of City Technology, The Red Sea Development Company
Hani Al Thubaiti, CIO, King Abdulaziz City for Science and Technology (KACST)
Fabio Fontana, CEO ZeroPoint DC, Tonomous, Chief Growth Officer & Executive Director- Compute, Neom
Fahad Bedaiwi, Executive Vice President, Head Facilities Management & Engineering Saudi National Bank
Mashari Almusad, Chief Infromation Officer, Saudi Olympic & Paralympic Committee
Ali Alghamdi, Data Management Specialist, Saudi Aramco
Abdullah Biary, CISO, United Cooperative Insurance
Mohammed Nasser Alshahrani, Statistician and Data Science Expert, Prince Sattam University
George Huang, Alibaba Cloud Intelligence, KSA General Manager, Alibaba Cloud
Jammy Chen, Alibaba Cloud Intelligence, Head of Alibaba Cloud International Delivery, Alibaba Cloud
Khalid Almedbel, MOH, Digital transformation, MD, SCCC Alibaba Cloud
Ahmed Alreshoodi, Service Delivery General Manager, SCCC Alibaba Cloud
Ali Aldubaikhi, Sales Manager, SCCC Alibaba Cloud
Mohammed Alotaiby, Chief of Operation, SCCC Alibaba Cloud
Nizar Hussein, Presales & Product Management GM, SCCC Alibaba Cloud
Bruce Ma, Chief Strategy & Business Planning Officer, SCCC Alibaba Cloud
Mohanad Aljabrain, Partnership & Channel Lead, SCCC Alibaba Cloud
Moaz al-Sibaai, Digital Advisory and strategic programs GM, SCCC Alibaba Cloud
Abdulaziz n. Alkhlaif, Deputy Chief Executive Officer,Taib Saudi Company
Mohammed Alaqil, Director of MSc in Electrical Engineering, Assistant Professor in Electrical Engineering Department, College of Engineering, King Faisal University
Saqib Mahmood, Executive Director – Digital Transformation & Innovation, National Water Company (NWC)
Mahmoud Rabie, Multicloud Solutions Expert, Ajlan & Bros Holding Co
Abdulbary Atassi, Chief Information Technology Officer, Zamil Industrial

“We’re happy to learn that the event was a huge success and was praised by industry leaders and the participants for the knowledge and insights it provided. The event provided a platform to discuss the potential of emerging technologies and also allowed the attendees to gain insights from experts from the region on the potential of these technologies, and how the Kingdom of Saudi Arabia can leverage them for its transformation into a Digital Society,” quoted Mithun Shetty, CEO, Trescon.

The 20^th global edition of the World Cloud & Data Center Show was supported and sponsored by:

Presenting Sponsor: SCC Alibaba Cloud
Headline Sponsor: Saudi Information Technology Company (SITE)
Silver Sponsor: Super Micro
Bronze Sponsors: 1Day Cloud | Systems
Supported By: Cloud Computing Association | ITEE | AIDA | Prince Sultan University
Sustainability Partner: Network Saudi Arabia
Digital Partner: Eye of Riyadh

About World Cloud & Data Center Show

World Cloud and Data Center Show is a thought-leadership-driven, business-focused, global series of events that takes place in strategic locations across the world. The Saudi edition is gathering pre-qualified CIOs, CEOs, CTOs, Heads of Research, Industry Practitioners, IT Decision Makers and Experts in Cloud Computing among others from cross-industry verticals.

The show features exciting keynotes, government and enterprise use-case presentations, product showcase, panel discussions and tech talks to discuss latest challenges and explore latest applications of cloud-based solutions.

About Trescon

Trescon is a global business events and consulting firm that provides a wide range of business services to a diversified client base. With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our clients.

For further details about the announcement, please contact:

Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 9555915156 | media@tresconglobal.com

ESG reporting: Hang Seng companies have transparency shortcomings

HONG KONG, Dec 15, 2022 – (ACN Newswire) – Companies in the Hang Seng Index rank in the midrange internationally in terms of the quality of their ESG reporting. This is the finding of the Global ESG Monitor 2022 (GEM), Regional Report Hong Kong/China (https://globalesgmonitor.com/download-report/), published today. The GEM is considered an international leader in analysing the non-financial reporting of leading companies in Europe, North America, Asia and Australia. According to the latest GEM study, the companies listed in the Hang Seng Index score an average of 57 points out of a maximum possible 100 points for the transparency of their non-financial reports. This result places the Hang Seng Index at the lower end of the midrange among the total of ten international indices from North America, Europe, Asia and Australia that were examined as part of the GEM, and ranks just above the level of S&P Asia (56 points) and Australia's ASX50 (53 points).

At the top of the index league are three companies – sports equipment supplier Anta Sports Products (02020.HK), financial services provider Hang Seng Bank (00011.HK) and Internet services provider and software developer Tencent Holdings (00700.HK) – on a score of 77. Sands China (01928.HK) and HSBC Holdings (00005.HK) rank the 4th and 5th among the blue chips with 75 and 74 points respectively. Other companies among the top ten include Lenovo Group (00992.HK), Power Assets (00006.HK), Henderson Land Development (00012.HK), China Mobile (Hong Kong) (00941.HK) and Hang Lung Properties (00101.HK).

With a rate of 97 percent, a generally high level of willingness exists among Hang Seng Index companies to base their non-financial reporting on a standard international framework. In a global comparison, however, they tend to be more focused with an average of 6.7 referenced frameworks and standards. This is also reflected, among other things, in the length of the reports, which rank among the most concise of the ten indices examined. "As you go through the Hang Seng data, you then notice that this focus is not always an advantage," comments Ariane Hofstetter, co-founder and Head of Research and Data Science at GEM. "In many cases, there's a lack of important details that would lead to better comprehensibility, reliability and comparability of the data."

Contextual information such as company size, number of employees and product and service portfolio is comparatively well established in non-financial reporting. Four out of five companies surveyed (81 percent) also describe the environmental parameters in which they operate. However, Hang Seng companies are less likely to address socioeconomic or political conditions (75 percent and 54 percent respectively). And only one-third (32 percent) from this group report on their value chains. "Greater sustainability nevertheless also requires close collaboration along the entire supply chain. How well Hang Seng companies achieve this undertaking remains in part an open question. Because here, too, there's a lack of information that enables the information to be classified," notes Michael Diegelmann, co-founder of GEM. "Although 83 percent of the reports contain descriptions of supply chains, once again there's a lack of detail to help rank the risks associated with the supply chain." For example, slightly less than a third of the companies provide information on the type of suppliers they do business with, and just under half state the estimated number of suppliers along the supply chain.

The relevant topics of Environment, Social and Governance are covered by a majority of Hang Seng companies in their non-financial reports. Around a third, for example, say they are already climate-neutral. A further 44 percent aim to achieve this objective in the future. In contrast to this statement, however, only three-quarters of companies identify their main sources of emissions in their reports and outline the biggest challenges they face in terms of climate-related emissions.

In the area of social issues, the topic of employee and human rights is not one of the most present in Hang Seng reporting. For example, 82 percent fail to state the extent to which specific incidents of discrimination and harassment have occurred. In contrast, the reports reflect more transparency on the subject of health and safety, where 89 percent of companies state their position – even though only seven out of ten companies report more specifically on "the number and rate of fatalities due to work-related injuries" and only a quarter provide information on "the number and rate of work-related injuries with serious consequences".

When it comes to governance, reporting by Hang Seng companies tends to focus more on structures and less on the functioning of the supervisory board. Around seven out of ten companies report how they ensure or promote their supervisory boards' collective knowledge about financial and non-financial issues and decisions. Only just under two-thirds of the companies (64 percent) report on the supervisory board's role when it comes to assessing environmental and social risk management. The scores are particularly low in connection with critical concerns and issues reported to the supervisory board. Here, only a quarter of the companies provide information, with only four percent then being specific and outlining the total number of critical concerns that were communicated to the supervisory board.

"One reason many reports lack detail and transparency is that they are prepared according to the HKEX ESG reporting guidelines," is Diegelmann's assessment. "This is where it then becomes noticeable that these guidelines have lower minimum requirements and don't go into much depth, especially compared to the Global Reporting Initiative requirements."

Among Hang Seng Index companies, it is also striking that there is little willingness to submit the non-financial report to an auditor. Only just under one-third of issuers (32 percent) issue a corresponding audit engagement. It is striking that in 70 percent of the cases no information was provided on the depth of the audit and only 16 percent of the reports were audited with "reasonable assurance".

"Hang Seng companies are generally convinced that their development towards greater sustainability must be accompanied by appropriate reporting," is the conclusion of Joanne Chan, Regional Partner Hong Kong and Managing Director at LBS Communications Consulting Limited. "However, an enormous amount of work will be required for Hang Seng companies to ensure that their reports can contribute to sustainable change through transparency."

Full report : https://globalesgmonitor.com/download-report-form/

For more information on the rating criteria and details of the report, please visit https://lbs-comm.com/global-esg-monitor-2022-report-scorings-is-out-now-two-hong-kong-companies-were-ranked-top-ten/

About the Global ESG Monitor (GEM)
The Global ESG Monitor (GEM) is a unique research initiative to examine transparency in non-financial reporting of the largest companies in the world. The GEM monitors, analyzes and reports on the transparency of non-financial ESG reporting using the GEM ASSAYTM, a proprietary research tool adapted annually in response to evolving conditions and developments. The operationalization of transparency underlying the GEM ASSAYTM is based on the relevant guidelines of Global Reporting Initiative (GRI), ISO Standard 26000, World Economic Forum (WEF) and Accountability.

If you have any media enquiries, please contact LBS Communications Consultants Limited.
www.lbs-forum.com
Joanne Chan Tel : (852)3679 3671 Email : jchan@lbs-comm.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Legend Capital Portfolio Company Bespin Global Completes USD100m Series D Financing

HONG KONG, Dec 15, 2022 – (ACN Newswire) – Legend Capital Portfolio Company Bespin Global, a Korea-headquartered cloud services company, has recently completed its Series D round financing of USD100 million, which will be used mostly for acquisitions.

Concurrent with the investment, the investor, e& Enterprise, a leading digital services provider in UAE (formerly Etisalat Digital), and Bespin Global will form a joint venture that will serve customers in the Middle East, North Africa and Pakistan.

John HanJoo Lee, CEO and co-founder of Bespin Global said, "By combining forces with e& enterprise in the METAP region, we are bringing much needed cloud managed services to the region where cloud adoption is about to explode. e& enterprise has deep customer relationships and the trust of its customers and Bespin Global has the deep cloud management capabilities. Together, we can accelerate cloud adoption in the region. Additionally, we welcome e& as our shareholder. It's a clear validation of our track record as a trusted cloud managed services provider on the global stage."

Bespin Global helps its customers in their digital transformation by providing cloud migration, cloud management and related SaaS offerings. It is the first multi-cloud managed service provider in East Asia with partnerships with Amazon Web Services, Microsoft Azure, Google Cloud, Aliyun, Tencent Cloud, and Naver Cloud.

The company has offices in 9 countries including Korea, China, Japan, Singapore, Vietnam, Indonesia, the US, UAE, and Saudi Arabia. It has over 1,700 customers which range from large enterprises to fast growing startups.

Legend Capital led Bespin Global's Series A financing in 2017, and continued to invest in the company's Series B financing in 2019. As an early investor, Legend Capital has provided support and help to Bespin Global in global cooperation, enterprise management and subsequent financing, to promote Bespin Global's development.

In 2020, Legend Capital introduced Serverworks, a leading AWS Cloud integrator in Japan, to Bespin Global. The two companies established a joint venture in September 2021, entering the Japanese market officially.

John HanJoo Lee, CEO and co-founder of Bespin Global said, "It was Legend Capital that first introduced us to the UAE investors that led to the successful funding round with e&. Many venture capital firms talk about adding value, but only a few actually do. Legend Capital continues to add value beyond just capital. We are so lucky to have such a great partner as our investor."

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SNS Network Technology Posts 35.5% Rise in PAT to RM11.94 Million

IPOH, Malaysia, Dec 13, 2022 – (ACN Newswire) – SNS Network Technology Berhad, an ICT system and solutions provider, today reported a 35.5% rise in profit after tax (PAT) to RM11.94 million for the third quarter ended 31 October 2022 (3Q FY2023) compared with PAT of RM8.81 million in the immediately preceding quarter (2Q FY2023).

Managing Director of SNS, Ko Yun Hung

The Group registered revenue that increased 17.5% to RM348.84 million in 3Q FY2023 compared with RM296.93 million in 2Q FY2023. For the quarter under review, there was a 25.7% gain in gross profit (GP) to RM29.44 million compared with GP of RM23.43 million in 2Q FY2023 while profit before tax (PBT) increased 29.9% to RM15.28 million compared with PBT of RM11.76 million.

There are no comparative figures on a year-over-year basis as SNS was listed on the ACE Market of Bursa Malaysia on 2 September 2022.

Managing Director of SNS, Ko Yun Hung, said, "We are seeing continuous growth in revenue and profit as well as margins supported by growing demand in the ICT industry by the commercial sector due to the market's digital transformation initiatives as well as the implementation of government's ICT initiatives as part of the digitalisation drive in schools. In fact, more and more organizations will continue to infuse digital technology into every process and function to boost up their productivities."

"Building on the government's digitalisation initiatives, we are fulfilling projects secured under the PerantiSiswa Keluarga Malaysia, a programme to bridge the digital gap and enhance the learning experience among tertiary students from the B40 group. In addition, our Group is very focused on expanding the device-as-a-service (DaaS) subscription-based service as we announced prior to our listing given the growth in the domestic DaaS market, which saw a CAGR of 39.04% from 2018, when the market was valued at RM139.95 million to 2021, when the market was valued at RM376.17 million."

"SNS is in a strong cash position at RM89.24 million and we are ready to expand through our online, physical store and commercial channels offering products, services and solutions. The Group's growth and strength is also supported by JOI(R), our in-house brand of devices and solutions catering to the needs of a growing audience of students enabling them to access educational tools and online learning for hybrid environment. We continue to also secure more DaaS projects from both the government and private sectors across all industries."

The Group's board of directors has also approved and declared a first interim single-tier dividend of 0.25 Sen per ordinary share amounting to RM4,031,949 in respect of financial year ending 31 January 2023, to be paid on 18 January 2023. The entitlement date is 3 January 2023.

SNS Network Technology: 0259 [BURSA: SNS], https://www.sns.com.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Society Pass (Nasdaq: SOPA) to Present at the #Adapt International Convention 2022 on 13-14 December 2022

SINGAPORE, Dec 12, 2022 – (ACN Newswire) – Society Pass Incorporated ("SoPa") (Nasdaq: SOPA), Southeast Asia's (SEA) leading data-driven loyalty, fintech and e-commerce ecosystem, today announces that Company Founder, Chairman, and CEO Dennis Nguyen has been invited to present at the #Adapt International Convention 2022, to be virtually held on Tuesday, 13 December 2022 and Wednesday, 14 December 2022. The title of the conference is "A New Age: Unraveling the Future of Metaverse, AI and Digital Assets".

In Keynote #6 address in Room 2, Mr. Nguyen will present "Digital Assets In The Web3 Economy. Society Points Are Digital Assets" at 2:30 pm on Tuesday, 13 December 2022.

If you would like to listen to the Company's presentation, please click on the following link to register for the conference.

Event: #Adapt International Convention 2022 https://adaptconvention.com/
Date: Tuesday, 13 December 2022
Location: Virtual Conference
https://event.webinarjam.com/register/9/yw171i9?_se=ZGVubmlzQHRoZXNvY2lldHlwYXNzLmNvbQ%3D%3D&utm_campaign=Adapt_2022_Login_instructions-_Participants&utm_medium=email&utm_source=sendinblue

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

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InvesTech Holdings and NTT Jointly Launch Smart Office SaaS Service Platform

HONG KONG, Dec 12, 2022 – (ACN Newswire) – InvesTech Holdings Limited ("InvesTech Holdings"; together with its subsidiaries, "the Group"; Stock Code: 1087.HK), a leading integrated smart-IT solutions provider in China, is pleased to announce that its subsidiary Wafer Systems Limited ("Wafer Systems"), which owns the smart office software solutions flagship product Virsical, has signed a strategic cooperation agreement with NTT Communications China ("NTT Com China"), a subsidiary of Japan's Nippon Telegraph & Telephone ("NTT"), to carry out in-depth cooperation in the field of smart-office software as a service ("SaaS"). The cooperation agreement will encompass activities including product distribution, market promotion, technical resourcing and other mutually beneficial undertakings.

The Smart Office Management SaaS Service Platform is a smart operations and management platform self-developed by Wafer Systems, grounded in enterprises' common office scenarios and which uses lightweight SaaS applications to meet enterprises' operational and maintenance requirements in daily administrative management, including such functions as conference management, work station management and visitor management. Spatial visualisation maps and data report in all dimensions provided by the platform can help enterprises review their operating conditions visually, effectively support their decision-making upgrades, and assist them in reducing costs and boosting efficiency. Meanwhile, Wafer Systems' powerful product matrix and research & development ("R&D") capabilities can provide expansion capacity for products and scenarios benefiting from the deployment of the SaaS platform.

As a leading provider of smart office solutions in China, Wafer Systems has been deepening its achievements in the field of smart offices to meet enterprises' needs in intelligent operations, employee health, collaborative efficiency, carbon emissions reduction, energy conservation and the user experience. The provision of integrated product matrix, its strong R&D capabilities, large customer base and extensive ecological cooperation network contribute to its core competitiveness.

NTT Com China is a wholly-owned business subsidiary of NTT, the largest telecommunications service provider in Japan. Focused on providing professional ICT solutions and services for multinational enterprises running businesses in China, NTT Com China has built a complete business line of communication systems, a leading-edge operations service system, substantial overseas resources, business integration capabilities, and comprehensive marketing channels within China and elsewhere. The co-launch of the Smart Office Management SaaS Service Platform by both parties is expected to give full play to their respective advantages and jointly build out the platform so that it caters for the full range of scenarios and products that make smart offices optimally operational in order to escort enterprises' digital transformation.

Amid the continuous development of the digital economy and constant changes in the economic environment, digital transformation has become the only development path for traditional industries, and the use of digital enabling technology by enterprises to reduce costs and increase efficiency has become ubiquitous. Against this backdrop, Wafer Systems and NTT Com China have jointly reached a cooperation agreement to smooth the digital transformation journey for traditional enterprises and address their need to engage with cloud computing. Looking ahead, the two parties will continue to deepen their cooperation. As it comprehensively improves the customer experience and service innovation, the two parties strive to solve problems for enterprises in the cloud, and achieve joint contribution, collaboration and win-win outcomes.

About InvesTech Holdings Limited
InvesTech Holdings Limited (Stock Code: 1087.HK) was listed on the main board of Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in IT industry, the Group is principally engaged in IT infrastructure system integration and smart office software solutions businesses. The Group has strong presence in China, with more than 10 offices nationwide with a research and development centre in Xi'an.

Website: http://www.investech-holdings.com/

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