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DEC
09
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InfraRisk Expands Auto Financing Cooperation with Toyota Finance, Taurus Motor Finance

MELBOURNE, Australia, Dec. 9, 2019 /PRNewswire/ -- InfraRisk Pty Ltd. (InfraRisk), a leading supplier of credit management solutions in Australia, today announced it has expanded cooperation in auto financing with Toyota Financial Services to Germany and Austria to facilitate its credit process when lending to dealerships and large fleet customers.

Toyota Financial Services is a wholly owned subsidiary of the world's largest carmaker Toyota Motor Corp, specializing in offering a comprehensive financial services lineup that caters to customers' diverse needs while strengthening the core auto sales finance operation.

Nicholas Davies, founder and CEO of InfraRisk, said, "These two new European deployments complement existing ones in Europe and Australia demonstrating our platform's ability to operate across multiple geographies catering to a range of country specific factors including policies and languages, with modularity being the key architectural design."

InfraRisk has been in partnership with the car loan provider since 2016, offering them a fully featured credit management platform - Credit Value Maximiser, or CVX, to Toyota's broad base of customers.

The modularized tool is built around key origination functionalities, from profile to pricing, with each module connecting via defined APIs. By harnessing the power of big data analytics, cloud computing and artificial intelligence, InfraRisk's auto financing solution will enable a more efficient and effective, as well as regulatory compliant credit process.

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DEC
09
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Guotai Junan Won 4 China Securities Journal Golden Bull Awards, Including "Top 10 Best Securities Company"

SHANGHAI, Dec. 9, 2019 /PRNewswire/ -- On November 22, China Securities Journal held the 2019 China Securities Industry Summit and the 2019 Golden Bull Award Ceremony in Beijing. Guotai Junan won four Golden Bull awards, including "Top 10 Best Securities Company", "Best Investment Banking Team", "Best Wealth Management Team" and "Best Asset Management Team".

In the last two years, Guotai Junan's equities, bonds, mergers & acquisitions and "New Third Board" businesses have developed in all directions. By September 2019, the company's stock underwriting amount has reached 372.3 billion yuan, ranking the 4th in the market. Outstandingly, the company's business in stocks, corporate debt and financial debt ranked third place in the industry. Guotai Junan's market influence has been constantly enlarged.

In recent years, Guotai Junan provided services for more than 12.86 million clients with over 80 market transactions on market information, consulting and financial advisory services. Guotai Junan provided over 240,000 high-net-worth clients with wealth management advice through investment consultant contracting and financial planning services. Meanwhile, they offered comprehensive solutions such as customized asset allocation and financial planning to more than 30,000 high-net-worth and ultra high-net-worth clients.

Guotai Junan's performance of asset management has received market attention and recognition for quite a long time. By September 2019, the scale of assets managed by Guotai Junan Securities Asset Management Co., Ltd has reached 773.5 billion yuan which is 22.8 billion higher than last year. In particular, the scale of active management reached a New high of 467.1 billion yuan, a 50% or 156.5 billion yuan growth comparing to the previous year. The asset scale and active management scale are both the second highest in the industry.

View original content:http://www.prnewswire.com/news-releases/guotai-junan-won-4-china-securities-journal-golden-bull-awards-including-top-10-best-securities-company-300971175.html

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DEC
09
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35 Innovative Products, Services and Organizations Honoured International Innovation Awards 2019 in Singapore

35 Innovative Products, Services and Organizations Honoured International Innovation Awards 2019 in Singapore

SINGAPORE, Dec. 9, 2019 /PRNewswire/ -- Enterprise Asia announced the winners of the International Innovation Awards 2019 in Singapore. Thirty five products, services and organizations are named as award winners from over 160 submissions.


Group Photo of the Winners of the International Innovation Awards 2019, held in Singapore.

Among the notable recipients of the InnoCube are AIA Malaysia, Taiwan's HIWIN Technologies Corp., Singapore's Olam International Ltd., Philippines' Unilever, Indonesia's PT MRT Jakarta, and United Arab Emirates' Roads and Transport Authority.

"There are not conventional 'innovations'. When we set out to identify winners of the IIA, our goal is to present a broad spectrum of innovations that could spur greater innovation in the recipients' respective countries and industries. Just as innovation itself is continuously self-redefining, the awards are meant to promote continuity in innovation," said Dato' William Ng, president of Enterprise Asia.

"Innovation is moving faster than at any other point in history. Organizations cannot afford to rely on current practices and hope that they will work in the future. Organizations that fail to innovate are setting themselves up for failure," Ng added.

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DEC
09
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BRG Group Thrives in Vietnam's Golden Private Sector Era

BRG Group Thrives in Vietnam's Golden Private Sector Era

HANOI, Vietnam, Dec. 9, 2019 /PRNewswire/ -- Vietnam's private sector now contributes 43 per cent of the country's GDP and has created 12 million jobs; extraordinary figures in a jurisdiction that once almost exclusively relied on State-owned Enterprises (SOEs).


BRG Business Ecosystem

In early November this year, US Secretary of Commerce Wilbur Ross visited Vietnam and met for a workshop with a number of key local enterprises, 80 per cent of whom are considered the leaders in their respective fields. During the workshop, Secretary Ross openly acknowledged that Vietnam's private enterprises have posted outstanding growth figures in recent times.

One of the co-hosts of the business leader's workshop was the BRG Group, a leading multi-sector private corporation known for its "Going Global" strategy.

BRG Group - A Shining Example of Modern Vietnamese Private Enterprise

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DEC
09
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TechBook Efficiently Connects Tech Startups with Corporates for Partnerships

TechBook Efficiently Connects Tech Startups with Corporates for Partnerships

BOSTON, Dec. 9, 2019 /PRNewswire/ -- Techcode, a global incubator and accelerator network with facilities and offices in 22 cities of 7 countries, launched an online B2B platform named TechBook in October to help startups find clients effectively. After 2 months of service, it has attracted over 15,000 startups and 300+ industry leaders to join the platform.


Techbook

Like a social networking service, startups can create a profile to showcase their innovations and send self-recommendations (just like a "friend request") to the corporate users for POC (Proof of Concept) and sales partnerships.

On the startup side, landing business customers, especially big names, is a major milestone for traction. Typically, startup founders would first leverage their personal network, but the number of effective leads is usually very limited unless it's already a veteran team in the vertical. Another popular way is to try expos and connectors such as industry associations. The whole process is nontransparent and takes time to actually find a fitting lead. Using an online platform like TechBook, startups can directly search for the corporate customers who fit their customer profile and are in need for solutions.

On the corporate side, open innovation has been a major trend for large corporates to be more adaptive to the fast-changing market. They proactively look for innovative solutions to make their products more competitive and attractive. Techcode has served over 20 world-renown corporates in healthcare, automobile, e-commerce and energy sectors by helping them scout over 500 hand-picked innovative solutions. "While the traditional way of open innovation is impactful, the matchmaking process was rather lengthy and we hope TechBook could make the whole process easier for both startups and large corporates," commented Luke Tang, CEO of Techcode.

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DEC
09
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Mastering High Net Worth with Transamerica Life Bermuda

Mastering High Net Worth with Transamerica Life Bermuda

HONG KONG, Dec. 9, 2019 /PRNewswire/ -- Transamerica Life (Bermuda) Ltd. (TLB) has announced a new programme of advanced marketing initiatives which has been created to provide its partners with specialised insights, ideas and resources to help them better serve the needs of HNW customers.


Transamerica Life Bermuda announced a new programme of advanced marketing initiatives to provide its partners with specialised insights, ideas and resources to help them better serve the needs of HNW customers.

Called 'Mastering High Net Worth', the programme will comprise a wide range of support for HNW insurance distributors and advisors, including:

  • Actionable insights on HNW trends and opportunities
  • HNW product and underwriting training
  • Continuing professional development courses
  • Marketing and sales support tools
  • Private seminars featuring expert speakers
  • Bespoke workshops and events tailored to partner needs

Marc Lieberman, President and CEO of TLB, said, "This is an important initiative for us to take in terms of further investing in our distribution partnerships. Working with our partners to not only help them develop and hone their own resources and capabilities, but to open up new growth opportunities for them by better serving HNW customers' needs. Mastering High Net Worth is all about the continuing quest for excellence, and raising the bar in our industry. With our unique sole focus on the HNW sector, we are best placed to lead the way."

The Mastering High Net Worth programme kicks off in December, when TLB will also unveil its "2019 Succession Planning Report: Converting Challenges to Actions", in conjunction with Asian Private Banker (APB). This is the fourth year of collaboration between TLB and APB looking into opportunities and gaps in retirement and succession planning activities for this particular segment and the research report will provide unique insights into the lives and needs of HNW and Ultra High Net Worth (UHNW) customers.

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DEC
09
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BankerBay is now Aurigin

- The Platform for Deal Origination

NEW YORK, Dec. 9, 2019 /PRNewswire/ -- BankerBay, the world's largest private deal origination platform, announced today that it has rebranded to Aurigin, effective immediately. 

The Aurigin platform is already positioned as the leading mid-market deal origination resource with over $250 billion of live, investable deals and $30 billion of new deal flow each month. The platform offers its 35,000+ members a truly global reach, with deal flow and investors from over 145 countries. The rebrand reflects the company's position as the premier resource for deal origination.

"When starting the company, my focus was on introducing technology to primarily disrupt the investment banking space. After 5-years, I realize that now we've evolved far beyond that. We are creating an environment of capital without borders, for companies around the world. As the single largest platform for deal origination, the new name – Aurigin, we feel represents more accurately who we are now," said Romesh Jayawickrama, founder and CEO.

Aurigin is dedicated to maintaining the commitment to quality that BankerBay was founded on.  Every single deal on the platform will continue to be vetted using a combination of sophisticated algorithms and an in-house team of experienced financial analysts, resulting in only institutional quality, relevant deals being offered to its members. This benefits members as they gain a truly global reach and are also able to deploy their human capital in a more efficient and targeted manner.

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DEC
09
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Trade Finance Scale-up Stenn Doubles Credit Capacity

LONDON, Dec. 9, 2019 /PRNewswire/ -- UK-based Stenn, a leading provider of cross-border trade finance, has closed a significant upsizing to its asset-backed financing programme. Stenn has now invested well in excess of $1bn in support of its clients' global trade activities.

The latest funding round doubles Stenn's credit capacity and enables it to provide a greater number of businesses with faster access to trade financing than the traditional banking sector. Stenn currently serves over 70 countries and aims to expand to 120 in total, enabling it to support territories contributing 90% of global GDP. The firm already has 17 offices positioned around the world, headquartered from its base in London.

Founded in 2015, Stenn provides agile and flexible financing to global buyers and suppliers, from a range of industries under-served by the traditional banking industry, helping to unlock capital in the supply chain. In this way, Stenn aims to address the $1.5 trillion 'trade finance gap' identified by the International Chamber of Commerce as the unmet need for global trade financing.

Greg Karpovsky, Founder of Stenn, commented: "Bank support for international commerce is limited. The trade war is also having a disconcerting impact both on global business confidence and general market conditions. In this environment Stenn allows companies to adjust their strategies without being constrained by funding. Doubling our credit capacity will enable us to help greater numbers of businesses with access to fast and flexible cross-border trade finance. We have experienced rapid growth since we launched in 2015 and are excited to continue on this trajectory."

Chris Rigby, Global Head of Finance & Capital Markets at Stenn, commented: "Building on the completion of Stenn's inaugural receivables securitisation in July 2019, we are delighted to have secured a doubling of the programme's capacity within just four months. At the same time, we have succeeded in broadening our investor base with top-tier financial institutions and have created an efficient and innovative financing architecture to support the rapid future growth of the company.

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DEC
06
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PRC NHC Issues New Policy on Cord Blood Banks, Implementation Rules To Be Provided

HONG KONG, Dec. 6, 2019 /PRNewswire/ -- Global Cord Blood Corporation (NYSE: CO) (the "Company"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, today reported that China's National Health Commission ("NHC") recently issued a new policy allowing the relevant Provincial Health Commissions ("PHCs") to approve cord blood bank licenses in 18 pilot Free Trade Zones ("FTZs") in China.

On November 29, 2019, the NHC announced its Notice Regarding the Issuance of Free Trade Zone "Separating Permits from Business Licenses" Healthcare Reform Implementation Plan* (the "New Policy"). According to the New Policy, PHCs will be responsible for approving cord blood bank establishments, granting cord blood bank licenses to applicants who satisfy all requirements, and organizing specialists and relevant technical departments to perform technical and operational reviews. The State Council has approved pilot FTZs for 18 provinces or municipalities in China, namely: Shanghai, Tianjin, Fujian, Guangdong, Liaoning, Zhejiang, Hubei, Henan, Chongqing, Sichuan, Shaanxi, Hainan, Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang.

The New Policy does not specify the implementation details, such as qualifications for applicants, license approval procedures or licensed region coverage, but it implies that the regulatory bodies could expand the current 7 licensed regions for cord blood banking up to 19 regions, including Beijing.

The Company cautions its shareholders and others considering trading its ordinary shares that detailed rules on the implementation of the New Policy is yet to be provided by relevant government agencies. Therefore, at the moment it is difficult to make an informed prediction/judgement regarding the potential implications upon the regulatory environment and competitive landscape of the cord blood banking industry in China. The Company will issue further announcements to keep the market informed in case of any new material developments.

*Direct translation for reference only

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DEC
06
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Xinyuan Real Estate Co., Ltd. Announces Third Quarter 2019 Financial Results

BEIJING, Dec. 6, 2019 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager operating primarily in China and in other countries, today announced its unaudited financial results for the third quarter ended September 30, 2019.

Highlights

  • Total revenue increased 40.0% to US$1,575.9 million for the nine months ended September 30, 2019, from US$1,125.4 million in the same period of the prior year. Total revenue decreased 16.4% to US$497.6 million in the third quarter of 2019 from US$595.5 million in the third quarter of 2018 and decreased 18.3% from US$609.4 million in the second quarter of 2019.
  • Gross profit increased 39.2% to US$413.8 million for the nine months ended September 30, 2019, from US$297.3 million in the same period of the prior year. Gross profit decreased 17.2% to US$123.5 million in the third quarter of 2019 from US$149.2 million in the third quarter of 2018 and decreased 22.4% from US$159.2 million in the second quarter of 2019.
  • Net income was US$43.5 million for the nine months ended September 30, 2019, compared to US$1.8 million in the same period of the prior year. Net income was US$5.4 million in the third quarter of 2019 compared to US$23.9 million in the third quarter of 2018 and US$19.8 million in the second quarter of 2019.
  • Contract sales decreased 5.4% to US$1,479.3 million for the nine months ended September 30, 2019, from US$1,563.8 million in the same period of the prior year. Excluding the impact of change in exchange rate between RMB and the USD, contract sales remained flat compared to the same period of the prior year in RMB. Contract sales decreased 11.6% to US$504.8 million in the third quarter of 2019 from US$571.3 million in the third quarter of 2018 and decreased 0.5% from US$507.4 million in the second quarter of 2019.
  • Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.60 for the nine months ended September 30, 2019, compared to US$0.04 in the same period of the prior year. Diluted net earnings per ADS attributable to shareholders were US$0.07 in the third quarter of 2019 compared to US$0.31 in the third quarter of 2018 and US$0.19 in the second quarter of 2019.
  • Current debt outstanding at the end of the third quarter of 2019 decreased 18.8% to US$1,009.6 million, or 31.4% of total debt, from US$1,243.1 million, or 34.6% of total debt, at the end of the second quarter of 2019.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "This quarter, we remained profitable despite uncertainties in the macro-economic environment and stringent government restrictions on the Chinese housing market. These headwinds caused contract sales in the third quarter of 2019 to decrease compared to the same quarter in 2018, and total revenue decreased as well. However, we continued to see demand for our offerings and were able to commence pre-sales of two new projects, which contributed 7.3% and 9.1% of total GFA sales and contract sales, respectively."

"We continued to make progress in our overseas projects," added Mr. Zhang. "Our Hudson Garden project hard costs remained on track, and we received the Temporary Certification of Occupancy for Target's ground floor occupancy in early November. We engaged GKV Architects for our RKO project in Flushing to develop new architectural plans, and schematic designs are already complete. Our Madison project in the United Kingdom remains on course for completion in 2020."

Mr. Zhang continued, "In October, our Xinyuan Property Management Company was successfully listed on the Hong Kong Stock Exchange under the code '01895'. Our Xinyuan Property Management subsidiary has achieved rapid growth in recent years, and we believe that listing on a high-quality platform will benefit all of our shareholders."

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