New Silkroutes Group (NSG), a Singapore-incorporated company listed on the Mainboard of Singapore Exchange Securities Trading, has signed an MoU with China Shipbuilding Industry Equipment and Materials Co (CSEMC), a subsidiary of China Shipbuilding Industry Corporation (CSIC), to produce crude oil and petroleum products for the state-owned capital goods supplier. The MoU also calls for the two companies to explore collaboration in China and Singapore. Under the MoU, NSG’s wholly owned subsidiary International Energy Group (IEG) will seek to bring high-quality oil and petroleum products into China for CSEMC. For its part, CSEMC will provide the necessary support to help…
Author: Business News Asia
Business News Asia
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Bank Saint Petersburg (BSPB), the leading bank in North-West Russia, now accepts JCB cards at POS terminals and ATMs, JCB International Co Ltd (JCBI), announced Friday. JCBI, the international operations subsidiary of Japan’s JCB Co Ltd, said BSPB’s bank network includes 7,100 POS terminals and 700 ATMs located not only in Saint Petersburg but also throughout the Leningrad region, in Moscow and Kalinigrad. “The partnership with BSPB will make JCB cardmembers feel more comfortable to use their cards, and enhances JCB presence in the market and increases brand awareness,” JCB said. JCBI deputy president Kimihisa Imada said the launch also…
The world’s largest electronics marketplace – the Electronics Fair and electronicAsia – opened in Hong Kong Thursday with about 4,200 exhibitors from 29 countries and regions. The 36th Electronics Fair (Autumn Edition) is organized by the Hong Kong Trade Development Council (HKTDC) while the 20th eletronicAsia is jointly organized by the HKTDC and MMI Asia Pte Ltd. “The exhibits this year include smart tech, virtual reality, wearable electronics and more, demonstrating the industry’s ability to keep abreast of the technology trends and launch products that match the market’s demand. We hope they will be received well during the fairs,” said…
Yadea, a Chinese electric two-wheeled vehicle brand in China, will work with US-based Lightning Motors to jointly develop and promote the world’s fastest motorcycle after the Chinese firm acquired shares of the American electric motorcycle manufacturer. The development was announced by Yadea at the 1st FIA Formula E HKT Hong Kong ePrix, the most eye-catching racing fest of the year, on the Central Harbourfront in Hong Kong last 8 October. Yadea said it has acquired shares of Lightning Motors and that they will cooperate closely with each other in fields like product research and development, technology innovation, developing global clients,…
Hong Kong-based mobile banking and payments solutions provider MobiCash announced that its board of trustees has unanimously chosen Ann J. Camarillo as the organization’s next Group Chief Executive Officer. Camarillo, who currently serves as MobiCash board member, will succeed Patrick G. Ngabonziza the company’s Chairman and current Group CEO. Bringing over 30 years of experience in financial services, IT and Telecommunications, Camarillo’s appointment comes at a point when the organization is strategically aligning key investors and stakeholders to implement activities geared toward driving the organization into a mature global company, leveraging the R&D investment as well as the expansion of…
HONG KONG, With 2016 marking the 25th anniversary of both cable TV in the region and the inauguration of CASBAA, this year’s CASBAA Convention is set to underscore just how much the industry has transformed over the last quarter of a century. This year, the CASBAA Convention is at a new venue at Studio City, Macau, and promises to be hotter than ever, with an impressive line-up of speakers including the opening keynote from one of the most powerful men in advertising Irwin Gotlieb, Global Chairman of media agency Group M. Speakers include Bennett Pozil from California-based East West Bank,…
New Silkroutes Group (NSG) has formed a joint venture with three parties, including the Singapore subsidiary of China’s Nanshan Group, to develop private equity funds that will focus on healthcare and infrastructure in the Asia Pacific region, including Japan and Australia. The new Singapore-incorporated entity, New Silkroutes Asset Management, is 30% owned by NSG’s subsidiary New Silkroutes Capital Pte Ltd, 30% by Nanshan Group Singapore, 30% by former United Overseas Bank (“UOB”) executive Terence Ong Sea Eng, and 10% by Fuji Capital Pte Ltd. New Silkroutes Asset Management, which is applying for the Capital Markets Services licence from the Monetary…
Six small and medium enterprises (“SMEs”) listed on the Singapore Exchange (“SGX”) presented their business strategies and investment merits to more than a hundred investors and corporate leaders at an investment seminar jointly presented by SGX and the WeR1 Group, an Asian investor relations specialist. The seminar was held at the SGX auditorium, where Mr. Mohamed Nasser Ismail, Head of Equity Capital Markets (SME) and Head of Capital Market Development, SGX, gave an opening address. The six SGX-listed corporations, all retained clients of WeR1, are: – AGV Group Limited, a leading provider of hot-dip galvanising services in Singapore, which counts…
Asia Capital Reinsurance Group Pte. Ltd. (“Asia Capital Re”) has received the final licence approval from the Republic of Korea’s Financial Services Commission on 21 September 2016 to open its branch office in Seoul. Asia Capital Re’s third branch office also began operations on the same day. On Asia Capital Re’s further expansion into Asia’s third largest non-life insurance market, ACR Capital Holdings Group Chief Executive, Mr Hans-Peter Gerhardt, said, “Over the last five years, our Korea Representative Office allowed us to develop an intimate understanding of the local market’s risk landscape. It is now timely that we take the next step in our commitment to the…
OCTO3 Group Holdings Ltd is pleased to announce the appointment of Tyrone Lynch as its new CEO, effective October 1, 2016. Tyrone joins the company from his previous role as CEO of NTT Data’s Global Payments Hub, a business unit of NTT Data Hong Kong Ltd. Tyrone will be taking over from OCTO3 Founder Ajmal Samuel, who will step into the new role of Chairman of OCTO3 Group. With the announcement of Tyrone’s appointment, outgoing CEO and new Chairman Ajmal had the following to say: “As OCTO3 is entering a period of explosive growth and high-profile international projects, we…
Data Centre World, Singapore, the leading data centre gathering in Asia, returns to a brand new venue, the Marina Bay Sands Expo and Convention Centre on 12th-13th October. The unmissable event will deliver focused streams around Asia’s innovation in the data centre world space, expanding its cutting-edge conference to cover advancements in DCIM, energy efficiency and cost management, facilities management and critical equipment. This year will see the introduction of Data Centre World Singapore’s brand new show feature – The DCW Live Green Data Centre. For the first time ever in Asia, a real-life, fully-functioning data centre will be at…
Trillium Inc, an automotive cybersecurity startup, has announced the availability of an SDK (software development kit) for its SecureCAR software-based, multi-layered automotive cybersecurity solution and introduced the ‘BrainBOX’, an IVN-in-a-box at the ongoing escar Asia in Japan. Trillium developed its SecureCAR IVN (in-vehicle network) security platform as one pillar of a comprehensive cybersecurity suite called SecureIoT, delivering the requisite multi-layered automotive cyber-system from IVN to IPS to SecureOTA. Today’s announcement represents an important milestone in the roll-out of the SecureCAR solution, and a significant leap forward from IVN modelling and simulation (based on CAD models) to actual deployment of ECU…
Jete Power Holdings Limited (Jete Power; stock code: 8133.HK), a Chinese manufacturer of metal casting parts and components has announced its acquisition of 39% issued share capital in Novel Sino Group Holdings Limited (Novel Sino) for HK$10 million (about US$1.28 million). Jete Power settled the acquisition in cash at completion. When the deal is consummated, Novel Sino will become an associate of the of Jete Power, according to the group’s official press statement released through ACN Newswire. According to the acquisition agreement, Novel Sino covenanted and guaranteed to Jete Power that the total actual net profit shall not be less…
MALAYSIA – Teik Senn (Malaysia) Sdn Bhd or TSM, a a leading fast-moving consumer goods (FMCG) distributor, recently upgraded to the flagship ORION ERP Suite from 3i Infotech, a global Information Technology company. TSM said it was seeking an upgrade that would support a group-wide consolidation of operations, and was cloud-enabled, which would allow real-time reporting for better management and enhanced customer service. With a distribution network spread throughout Malaysia and Thailand, TSM required higher visibility among its end users as well. ORION ERP offered real-time management dashboards with Report Designer and Enterprise Content Search, which enabled TSM to remain…
The Everbright Investment Conference 2016, organised by the China Everbright Group’s largest overseas financial investment flagship, China Everbright Limited (CEL; 165.HK), will be held on 19 – 21 October 2016 at the Shangri-La Hotel, Qingdao. Entering its fifth year following previous successes in Sanya, Xiamen, Shanghai and Chongqing, the Everbright Investment Conference is one of the most influential summits and platforms for the asset management industry. With more than 1,000 institutional investors and senior executives participating in the previous four conferences, it has become an important event where investment heavyweights gather to analyse economic and investment environments, share new trends…
Hong Kong’s leading eWallet, TNG Wallet (TNG) has unveiled its strategy to go global during the TNG 3.0 new product launch and press conference at the Hong Kong Convention & Exhibition Centre. Aside from the launching of its “Going Global” strategy, TNG also launched four revolutionary features including Global Money Transfer, Foreign Exchange, Global Bill Payment and Global Mobile Air-time Top-up. The new features distinguish TNG from competitors in Hong Kong and help lift the city’s financial technology (FinTech) industry to new heights. Bolstered by the strong organic growth achieved in Hong Kong since its launch in November 2015, TNG…
Tokyo-headquartered Hitachi Ltd and Hitachi Building Systems announced that they will launch a new machine room-less elevator for Asia and the Middle East on 30 September. The new elevator model, which was developed in Japan, will be gradually released over time across countries in both regions. It is equipped with Hitachi’s latest technologies. In addition to its excellent design, it also offers uniform basic specifications to meet the different standards of each country and respond flexibly and quickly to the needs of customers, the companies said in a press statement. It features the latest design and functions developed for the…
JCB cards are now accepted at the Bank of Bhutan Ltd (BOBL)’s nationwide merchant network following the agreement between JCB International Co (JCBI) and Bhutan’s first and largest scale commercial bank. Bhutan is popular destination for people in Asia Pacific. According to Tourism Council of Bhutan, over 150,000 travelers visited the country in 2015, which has more than tripled over the past 5 years. Most of the travelers are from regional countries in Asia, where JCBI focuses on for its business. BOBL, established in 1968, is the first bank of the country and currently has about 45 branches throughout Bhutan.…
HONG KONG – China VAST Industrial Urban Development Company Limited, a pioneer integrated service developer engaged in the planning, investment development and operation of large-scale industrial towns in China, announced that it has introduced Celestial Ocean Investments Limited (Celestial Ocean) as its strategic investor. The company (HKSE:6166) also formed a joint venture with Shenzhen Shunfeng Airport Investment Company Limited (Shenfeng Airport Investment) to develop a freight logistics center and high-end supporting industrial base at EZhou Aeroptroplis. Shunfeng Airport Investment and Celestial Ocean are affiliated companies. Under the agreement, Celestial Ocean agrees to buy the Sale Shares of China Vast at…
JAKARTA – LiveWell Global (LWG) – an Indonesian company which focuses on offering health and beauty products – is scheduled to meet with some Korean beauty companies in the fourth quarter of 2016 in Seoul, South Korea. According to LiveWell Global CEO Bambang Muliana, innovation of skin beauty in Korea, such as a treatment for facial skin with skin cream, has been recognized worldwide. “Such innovation is very appreciated in Indonesia,” Bambang told reporters. This great opportunity encourages LWG to meet some Korean companies to discuss business in health and beauty industry. Bambang will exchange ideas on how to market…