Tag: kuala lumpur
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JCB, IDEMIA and Soft Space launch JCBDC pilot to test CBDC in-store payments
Over the past few years, central banks in many countries and regions have been testing CBDCs that should soon be widely accepted by consumers and merchants. However, merchants might be reluctant to accept them, and mass-market rollout may be held up by people without smartphones, like children and the elderly, who could find the user interfaces and payment systems hugely challenging.
As a result, JCB will have CBDC acceptance tested using existing JCB Contactless (JCB's EMV(R) based contactless payment) merchants, POS terminals and plastic card-based user interfaces, with guidance from IDEMIA and Soft Space.
JCB, IDEMIA and Soft Space will conclude payment system development by late 2022 and conduct the pilot test with Tokyo merchants until March 2023.
"It gives me great honour to announce our collaboration with IDEMIA and Soft Space on this project," said Koremitsu Sannomiya, Board Member, Senior Executive Officer of JCB. "This project proves that we can use existing payment acceptance hardware for new CBDC payment systems, which is a huge benefit for both consumers and merchants."
"We at IDEMIA firmly believe that CBDCs are redefining the very fundamentals of the payment ecosystem. We're proud that our ability to innovate has enabled CBDC payments with existing card and POS terminal hardware. IDEMIA's, JCB's and Soft Space's joint payment system expertise will usher in worldwide CBDC growth," said Romain Zanolo, IDEMIA Managing Director APAC Financial Institutions.
"We're thrilled to be first in the world to trial CBDC acceptance on SoftPOS alongside our partners JCB and IDEMIA. Although CBDCs are still in their infancy, this pilot takes us forward from theory to reality, by harnessing our in-store payment experience and existing payment platform expertise," said Soft Space CEO Joel Tay.
*EMV(R) is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.
About JCB
JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 39 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/
JCB Contact
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: [email protected]
About IDEMIA
As a leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. Backed by cutting-edge R&D, IDEMIA provides unique technologies, underpinned by long-standing expertise in biometrics, cryptography, data analytics, systems and smart devices. IDEMIA offers its public and private customers payment, connectivity, access control, travel, identity and public security solutions. Every day, around the world, IDEMIA secures billions of interactions in the physical and digital worlds. With nearly 15,000 employees, IDEMIA is trusted by over 600 governmental organizations and more than 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach. For more information, visit www.idemia.com and follow @IDEMIAGroup on Twitter.
About Soft Space
Founded in 2012, Soft Space is the world's leading SoftPOS player headquarters in Kuala Lumpur, Malaysia. Soft Space simplified the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. With over 50 financial institutions and partners across 23 global markets adopting its payment solutions, Soft Space is supported by MDEC's Global Acceleration and Innovative Network (GAIN) programme and received financial support through MIDA's Domestic Investment Strategic Fund in 2022. In 2018, Soft Space ranked 66th out of 1000 companies in Financial Times 'FT 1000: High Growth Companies in Asia Pacific' Special Report. Subsequently in 2020, Soft Space is also recognise as one of IDC's Fastest Growing Company. For more information, please visit: https://www.softspace.com.my
Nuraqilah Ibrahim
Marketing Associate
Tel: +603 7494 1222
Email: [email protected]
Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comJapan's only international payment brand JCB Co., Ltd. ("JCB") has launched "JCBDC" (JCB Digital Currency) pilot project with identity technologies no. 1 IDEMIA and the world's leading fintech company Soft Space Sdn. Bhd. ("Soft Space"). JCBDC pilot will develop a CBDC (Central Bank Digital Currency) payment solution and conduct a pilot test with Tokyo merchants.
John Lineker vs. Fabricio Andrade Main Event Ends in No Contest After Unintentional Foul Stops Fight
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ONE Championship, in partnership with leading premium lifestyle and luxury performance brand TUMI, presented the prestigious ONE World Title belt to the World Champions.
ONE on Prime Video 3 Photo Gallery: https://tinyurl.com/yn93zu83
ONE on Prime Video 3 Official Scorecards: https://tinyurl.com/3ejexxt6
The main event showdown between former ONE Bantamweight World Champion John Lineker and #2-ranked contender Fabricio Andrade ended in controversy midway through the third round, after Andrade connected with an unintentional knee to Lineker's groin.
The two bitter rivals traded bombs from the sound of the opening bell, with "Wonder Boy" looking to push forward behind a stinging right jab. Lineker found openings to land his thunderous hooks, rocking Andrade in the second round. However, the younger fighter did considerable damage to Lineker with his striking, causing the veteran's right eye to nearly close by the end of the frame.
In the third stanza, Andrade connected with a knee to the midsection and had Lineker reeling in pain. "Wonder Boy" tried to follow up with another knee, but it unintentionally landed south of the waistline. After a five-minute recovery period, Lineker could no longer continue. The fight was ruled a no contest and the ONE Bantamweight World Title now remains vacant.
In the co-main event, Regian Eersel became a two-sport ONE World Champion, capturing the inaugural ONE Lightweight Muay Thai World Title behind an efficient striking display against Thai star Sinsamut Klinmee. Action was fierce throughout the five-round contest, with both men trading combinations while taking each other's best shots. Sinsamut was game from start to end, wearing Eersel's damage on his face well. But the Dutch-Surinamese fighter was just too good, as "The Immortal" increased his aggression in the championship rounds to take the split-decision victory.
Teenage Brazilian Jiu-Jitsu sensation Kade Ruotolo captured the inaugural ONE Lightweight Submission Grappling World Title, defeating multi-time Sambo World Champion Uali Kurzhev via heel hook. Ruotolo was constantly on the attack, but once he trapped Kurzhev in a leg lock situation, the American grabbed ahold of the heel and put pressure on the knee to force the tap. Ruotolo also received a US$50,000 bonus for his performance.
In a featherweight kickboxing contest, Sitthichai Sitsongpeenong and Mohammed Boutasaa figured in an all-out war of attrition for three rounds. The two met each other at the center of the Circle and looked to trade bombs in the opening stanza. Boutasaa went on the offensive in round two, as Sitthichai opted to lay back and counter. In the third frame, the Thai star came alive, moving forward with a sense of purpose. In the end, all three judges saw the bout in favor of Sitthichai to win by unanimous decision.
ONE Championship newcomer Shamil Gasanov made quick work of #2-ranked featherweight MMA contender Kim Jae Woong in his promotional debut, submitting the South Korean dynamo with a rear-naked choke in the first round. Gasanov closed the distance early and swiftly took Kim's back with an explosive takedown. After a quick scramble, the Russian's left arm wound up underneath Kim's chin as he cranked out the rear-naked choke. His performance earned him a US$50,000 bonus.
READ: Gasanov, Miado, Grandjean Score Highlight-Reel Finishes In The MMA Fights At ONE On Prime Video 3: https://tinyurl.com/m7y9jdk3
READ: Sitthichai, Naito, Zatout Victorious At ONE On Prime Video 3: Lineker Vs. Andrade: https://tinyurl.com/2p9yvfe7
Performance bonus winners: Kade Ruotolo (US$50,000), Shamil Gasanov (US$50,000), Mehdi Zatout (US$50,000), Noelle Grandjean (US$50,000)
MAIN CARD
MMA - Catchweight (145.50 lbs): John Lineker vs. Fabricio Andrade is declared a no contest in round three
Muay Thai - Lightweight: Regian Eersel def. Sinsamut Klinmee via Split Decision
Submission Grappling - Catchweight (174.00 lbs): Kade Ruotolo def. Uali Kurzhev via Submission (Heel Hook) at 4:26
Kickboxing - Featherweight: Sitthichai Sitsongpeenong def. Mohammed Boutasaa via Unanimous Decision
MMA - Featherweight: Shamil Gasanov def. Kim Jae Woong via Submission (Rear-Naked Choke) at 2:09 of R1
LEAD CARD
MMA - Catchweight (127.00 lbs): Jeremy Miado def. Danial Williams via TKO at 0:31 of R3
Muay Thai - Flyweight: Taiki Naito def. Amir Naseri via Unanimous Decision
Muay Thai - Bantamweight: Mehdi Zatout def. Asa Ten Pow via TKO at 3:00 of R1
MMA - Catchweight (116.75 lbs): Noelle Grandjean def. Lea Bivins via TKO at 4:01 of R1
IN-STADIUM (AFTER EVENT)
MMA - Featherweight: Yoon Chang Min def. Keanu Subba via Unanimous Decision
MMA - Welterweight: Agilan Thani def. Ilja Stojanov via Submission (Rear-Naked Choke) at 1:48 of R2
About ONE Championship(TM)
ONE is the world's largest martial arts organization, ranking among the world's top five sports properties for viewership and engagement with a cumulative reach of over 400 million fans, according to Nielsen. ONE produces and distributes world-class events across more than 150 countries, featuring martial artists and World Champions from over 80 nations and all styles of martial arts including MMA, Muay Thai, kickboxing, Brazilian jiu-jitsu, and more. ONE can be viewed on many of the largest global free-to-air and digital broadcasters, including Prime Video Sports, ELEVEN Sports, Star Sports, Beijing TV, iQIYI, One Sports, Abema, IB, NET TV, Vidio, Startimes, Mediapro, Thairath TV, VieOn, Skynet, Mediacorp, Spark Sport, Match TV, Dubai Sports, RedeTV and more.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comONE Championship(TM)(ONE) made a triumphant return to the Axiata Arena in Kuala Lumpur, Malaysia, with a thrilling night of martial arts action. ONE on Prime Video 3: Lineker vs. Andrade featured a series of exciting matchups, headlined by three World Title bouts.
Q&M Dental records historic highest-ever revenue and profit after tax for year ended 31 December 2021 and declares a full year dividend yielding 7%
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Quarterly Financial Performance since the start of Covid-19 (From 4Q2019)
The Covid-19 pandemic had no impact on the Group's core dental and medical clinics business segment and continued its strong growth trend. On a Quarterly basis, the Group's revenue also recorded a steady increase from S$36.4 million in 4Q2019 to S$53.3 million in 4Q2021.
FY2021 Financial Performance
For the FY2021, total revenue improved by S$68.0 million or 49% from S$137.6 million to S$205.6 million. Revenue from dental and medical clinics increased by 27% to S$160.2 million. The increase was mainly due to higher revenue from existing and new dental clinics in Singapore.
Revenue from medical laboratory and dental equipment & supplies segment jumped by 304% to S$45.4 million. The increase was mainly due to revenue from the Group's Covid-19 medical laboratory business. The medical laboratory license from MOH was obtained in September 2020.
The Group's EBITDA for FY2021 correspondingly increased by 68% to S$63.3 million, from S$37.7 million in the previous period.
The Group's net profit after tax in FY2021 increased by 98% to S$39.4 million from the S$19.8 million recorded in FY2020. PATMI (Profit after tax attributable to Shareholders excluding Minorities) grew by 55% to S$30.5 million, from S$19.7 million in the previous period.
Earnings per share increased to 3.23 Singapore cents for FY2021, from 2.09 Singapore cents in the previous period.
As at 31 December 2021, the Group's financial position remains strong with net assets of S$97.8 million, as well as cash and cash equivalents of S$47.6 million. Bank borrowings and financial liabilities amounted to S$83.7 million.
Fourth interim Dividend
The Group declares a fourth interim dividend of 1.0 Singapore cent per ordinary share for 4Q2021. In the last three quarters of 2021, the Group paid 1.0 Singapore cent in 1Q2021, 1.0 Singapore cent in 2Q2021 and 1.0 Singapore cent in 3Q2021. The total dividends work out to 4.0 Singapore cents for FY2021 translating to a 7% dividend yield based on closing share price of 56.5 cents and a dividend payout ratio of 113%. The 4Q2021 dividend will be paid on 24 March 2022.
Operational Update - Growth & Expansion in medical clinics
As at 31 December 2021, the Group has 136 dental clinics as compared to 118 in 31 December 2020, an increase of 18. The Group's number of medical clinics in Singapore remained unchanged at 5. (See Table 1)
In Singapore, the Group's number of dental clinics in Singapore grew to 97 in FY2021 from 83 in FY2020. The Group opened 15 new clinics and consolidated 1 clinic in Singapore in 2021 resulting in a net increase of 14 clinics. (See Table 2)
Similarly, for overseas, the number of dental clinics has increased to 39 in FY2021, as compared to 35 previously. 38 dental clinics are in Malaysia and 1 dental clinic is in the People's Republic of
China ("PRC"). The locations of the dental clinics in Malaysia are 15 in Johor, 18 in Kuala Lumpur and 5 in Malacca. (See Table 3).
To support this growth, the Group has also increased its total number of dentists to 270 as at 31 December 2021, as compared to 250 a year ago.
Updates on subsidiary - Acumen Diagnostics Pte Ltd
The Group continues to focus on investment opportunities in sectors that are synergistic and aligned with its business strategy. Associate Company Aoxin Q&M Dental Group Limited ("Aoxin")'s recent acquisition of a 49% shareholding of Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics"), raised Q&M's effective interest in Acumen Diagnostics to 67% from 51% in October 2021. With 1 scientist, 16 medical technologists and 36 other staff, Acumen Diagnostics' technical capabilities and infrastructure in molecular diagnostics, enables it to do research and development, manufacturing, as well as clinical laboratory testing.
- Capabilities to Tackle Omicron Covid-19 Variant
For Acumen Diagnostics, the Group will continue to offer COVID-19 testing by polymerase chain reaction ("PCR") for patients that require PCR test results and for travelers as Singapore opens its borders, as well as distribute COVID-19 antigen rapid tests ("ART"). It will also launch a panel of new PCR tests for infectious diseases, sepsis and cancer.
On 11 November 2021, Acumen Diagnostics announced that it has been granted the license by Ministry of Health, Singapore to provide door-to-door COVID-19 PCR home swab services.
On 3 December 2021, Acumen Diagnostics announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. On 16 December 2021, Acumen Diagnostics announced that it has been granted a license by Ministry of Health, Singapore to provide offsite COVID-19 PCR swab services and serology sample collection at 100 clinics.
Acumen Diagnostics will continue to roll out its testing services via the Group's network of clinics, and also at its headquarters located at The Gemini, 41 Science Park Road, Singapore. Currently, the Company has about 61 clinics providing the testing services island-wide.
- Appoints UOB Kay Hian Private Limited as Arranger to Explore NASDAQ Listing
On 17 January 2022, Q&M announced that Acumen Diagnostics is exploring a proposed listing of its securities on the NASDAQ stock exchange in New York, USA. Acumen Diagnostics has appointed UOB Kay Hian Private Limited to assist Acumen Diagnostics with the listing evaluation and all relevant preparatory work including the selection of professional advisers and underwriting banks in relation to the proposed NASDAQ listing and fundraising exercise.
Looking Forward - Expansion Plans
Dr Ng Chin Siau, said "Q&M will embark on 4 pillars of growth. Firstly, expansion of our core dental business in Singapore, Malaysia as well as South East Asia and China for sustainable growth. "Our Group intends to open at least 30 dental clinics a year from 2021 onwards in Singapore and Malaysia for the next 10 years."
Secondly, the use of medical technology such as our proprietary Artificial Intelligence Guided Clinical Decision Support System to provide the most effective and suitable treatment plans for patients This will enable us to scale up consistency and quality throughout our network clinics.
Thirdly, expand our clinical testing laboratory business to test Covid-19 and other diseases such as dengue sepsis and other bacterial pathogens.
Fourthly, invest in medical and healthcare business that will enhance our shareholder's value such as Acumen Diagnostic."
Q&M Group will continue to execute our business plans outlined below:
1. Expansion of network of dental clinics in Singapore, Malaysia and Southeast Asia
Q&M will focus on its operations in Singapore and has initiated a strategy of intensive organic growth for its dental clinics in Singapore. It will expand its team of dentists to support the future growth of its operations in Singapore.
The Group intends to open at least 30 dental clinics a year for the next 10 years from 2021 onwards in Singapore and Malaysia and continue to look for opportunities to expand its business through the opening of new dental clinics in Southeast Asia.
The eventual number of dental outlets will depend on available opportunities, pertinent market conditions and the evolving Covid-19 situation.
2. Expansion into private dental healthcare market in China
Q&M's main thrust of expansion in China is through organic growth to develop a new and sustainable growth pillar that can yield long term value for the Group.
3. Artificial Intelligence Guided Clinical Decision Support System (AI-GCDSS)
Q&M will continue to develop, invest, and optimise its proprietary digital Artificial Intelligence (AI) Guided Clinical Decision Support System to provide the most effective and suitable treatment plans for patients. The Group believes it is well-positioned to cater to patients' rising demand for primary and higher value specialist dental healthcare services.
4. Medical Laboratory
Q&M will focus on rolling out its clinical testing laboratory's pipeline of new tests including PCR assays for dengue sepsis and the identification of bacterial pathogens and their associated antibiotics resistance in pneumonia and bloodstream infections.
Looking Forward
Barring any unforeseen circumstances, such as a rapid worsening of the Covid-19 situation in Singapore and Malaysia, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months.
[1] Based on closing share price of 56.5 cents as at 17 February 2022
Please see links for PDF documents from SGXNET.
https://links.sgx.com/FileOpen/QnM_FY%202021_PRESS_RELEASE.ashx?App=Announcement&FileID=703150
https://links.sgx.com/FileOpen/QnM_4Q2021_Result_Announcement.ashx?App=Announcement&FileID=703149
About Q&M Dental Group (Singapore) Limited (QC7.SI) www.QandMDental.com.sg
Q&M Dental Group (Singapore) Limited ("Q&M" or together with its subsidiaries, the "Group") is a leading private dental healthcare group in Asia. The Group owns the largest network of private dental outlets in Singapore, operating 98 dental outlets across the country. Underpinned by about 270 experienced dentists, 7 doctors and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.
Outside of Singapore, the Group has 38 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People's Republic of China ("PRC"). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange, which operates dental clinics and hospitals primarily in the North- eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within ASEAN.
In 2018, the Group made inroads into the development of advanced technology in healthcare with the establishment of EM2AI Pte. Ltd. ("EM2AI", formerly known as Q&M Dental AI Pte. Ltd.). EM2AI focuses on developing an Artificial Intelligence (AI) ethical enhanced guided treatment plan.
In 2019, the Group expanded into dental postgraduate education with the establishment of the Q&M College of Dentistry. It offers Singapore's first private postgraduate diploma programme in clinical dentistry.
In 2020, the Group also expanded into the medical laboratories and research industry with the incorporation of Acumen Diagnostics Pte. Ltd. ("Acumen Diagnostics"). Acumen Diagnostics currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID-19 testing.
The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited ("SGX- ST") on 26 November 2009.
For more information, please contact:
Waterbrooks Consultants Pte Ltd
Tel: +65 6958 8008 (M) +65 9690-4959 email: [email protected]
Wayne Koo - [email protected] (M) +65 933 88166
Derek Yeo - [email protected]
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comQ&M Dental Group (Singapore) Limited ("Q&M" or together with its subsidiaries, the "Group"), a leading private dental healthcare group in Asia, today reported the highest-ever revenue and profit after tax of S$205.6 million and S$39.4 million respectively for the financial year ended 31 December 2021 ("FY2021").
Deloitte fully supports HKSAR government’s fight against COVID-19, donating 100,000 rapid testing kits to aid community response
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The Foundation has so far procured over 100,000 COVID-19 rapid testing kits, together with facemasks, hand sanitizers, and disinfection wipes. We are distributing these supplies to frontline workers including the police force, medical workers and the most vulnerable in society directly and through various charities in Hong Kong.
"As part of the Hong Kong SAR community, we must join forces with the government to work hand in hand to combat this pandemic. We will spare no effort to do what matters most for society during these critical times by leveraging all power and resources, to support the HKSAR government to secure the health and security of all Hong Kong people," says Deloitte China CEO Patrick Tsang.
Deloitte China Chairman and Secretary-General of Deloitte Foundation (Hong Kong) Dennis Chow says, "Frontline workers, especially the police force and the medical workers, are carrying out their duties every day under severe conditions. The whole business community is thankful for everything they are doing during this fifth wave, which is putting the healthcare system in Hong Kong under severe pressure. It's only right that we show our appreciation for their efforts and do whatever we can to help Hong Kong through this challenging time."
"During these critical and challenging times, Deloitte China and the Deloitte Foundation are committed to supporting frontline workers, the most vulnerable, and underprivileged groups in society," adds Deloitte China Southern Region Managing Partner Edward Au. "We have been able to leverage our network of suppliers and regional procurement teams across China to do what we can to ensure Hong Kong has what it needs to fight back against the fifth wave."
All of us at Deloitte China express our deep gratitude for the dedicated work of frontline workers at this challenging time.
About the Deloitte Foundation
The Deloitte Foundation was established in Chongqing and Hong Kong in June 2015 to centralize the management of charitable donations and support Deloitte's corporate responsibility programs.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the "Deloitte organization") serves four out of five Fortune Global 500 companies. Learn how Deloitte's approximately 345,000 people make an impact that matters at www.deloitte.com.
Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which are separate and independent legal entities, provide services from more than 100 cities across the region, including Auckland, Bangkok, Beijing, Hanoi, Hong Kong, Jakarta, Kuala Lumpur, Manila, Melbourne, Osaka, Seoul, Shanghai, Singapore, Sydney, Taipei and Tokyo.
The Deloitte brand entered the China market in 1917 with the opening of an office in Shanghai. Today, Deloitte China delivers a comprehensive range of audit & assurance, consulting, financial advisory, risk advisory and tax services to local, multinational and growth enterprise clients in China. Deloitte China has also made - and continues to make - substantial contributions to the development of China's accounting standards, taxation system and professional expertise. Deloitte China is a locally incorporated professional services organization, owned by its partners in China. To learn more about how Deloitte makes an Impact that Matters in China, please connect with our social media platforms at www2.deloitte.com/cn/en/social-media.
This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms or their related entities (collectively, the "Deloitte organization") is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.
No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.
2022. For information, contact Deloitte China.
Contact: Ashley Leung
Tel: +852 2109 5261
Email: [email protected]
Contact: Lyanna Chan
Tel: +852 2238 7111
Email: [email protected]
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comWith Hong Kong facing an onslaught from the fifth wave of the pandemic, the Deloitte Foundation today launches a program to donate much-needed anti-epidemic supplies to support frontline workers, low-income families, under-privileged children, and the elderly.
MoU Between Verofax Asia and Distichain to Enable Empowered Digital Global Trade
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The aim of the MoU is to create the first digital ASEAN B2B cross-border trade platform to facilitate a potential of RM 50 Billion Malaysian trade internationally with seamless digital transactions over the next 5 to 10 years. The collaboration between Distichain and Verofax Asia will offer a platform that delivers Digital B2B marketplaces as a service (MAAS) to enterprises by offering full marketplaces or through API integration.
Using blockchain and AI as core technologies, the platform digitizes global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. The solution enables suppliers to readily plug their catalogs, update product data, manage routes and orders, verify documentation and access aggregate financing and logistics all in one place. This unique platform that simplifies, secures, and empowers every participant in a trade.
"The signing of this MoU is an important step for Distichain's ambition to continue the further development and expansion of its solution. We are especially pleased to be taking this step alongside our partner Verofax Asia, and impact the ASEAN trading industry with rapid digital transformation through our one-day marketplace activation approach," said Mr Haisam Jamal.
Captain Koh added, "This platform will instantly digitalize the entire export and import process in governmental, non-governmental enterprises as well as SMEs. It will generate low-cost opportunity to digitize processes, introduce trade finance and automate supply-chain across all industries, accelerating economic growth in Malaysia and the ASEAN region. Through this partnership agreement signed today, we will further develop our technologies to meet the ongoing digitalization of international trade. Verofax Asia will have a massive impact on the performances of exports and imports with rapid digitalization, all the while building a resilient digital infrastructure and foster innovation for the recently signed Regional Comprehensive Economic Participation (RCEP) Trade Agreement, which came into effect on 1st January 2022."
About Verofax:
Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide 'Traceability as a Service', enabling brands to turn their offline products interactive, and manage their entire supply chain to trace goods, fend off counterfeit activities, and improve manufacturers' productivity. Brands can extend their reach directly to end-consumers, thereby increasing consumer intimacy with direct engagement, and leveraging the boom in NFTs and metaverse experiences. Visit: www.verofax.com, or Email: [email protected].
About Distichain:
Distichain delivers B2B marketplaces as a service (MAAS) to customers using blockchain and AI, digitizing global trade with end-to-end transactions through its ecosystem of supply-chain, verification, and trade finance providers. SMEs and enterprises alike benefit from automated transactions governed by the system to deliver door-to-door border agnostic trading, with on-platform trade compliance present rules. Using smart contracts, Distichain ensures the highest levels of data privacy, and by connecting to innovative solutions within Fintech and Supply Chain, it facilitates transactions backed by instant trade finance with zero email trading. Distichain's objectives are to simplify cross-border trading, secure end-to-end transactions, and empower decision-makers with real-time AI analytics. Visit: www.distichain.com, or Email: [email protected].
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAn MoU was signed on January 12th, 2022, between Capt. Koh Chen Tien, Chairman of Verofax Asia, and Mr.Haisam Jamal, CEO of Distichain. The event took place in the Address Hotel Dubai Marina, where attendees from around the world were present for the opening of Malaysia Digital Week, taking place at Expo 2020 in Dubai, UAE.
Soft Space Enters into Strategic Partnership with JCB
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This strategic partnership is the first of its kind in Malaysia for the payment giant and involves a combination of US$5 million investment in Soft Space and a series of business collaborations that are aimed at capitalising on Soft Space's fintech-as-a-service business model, technology and regulatory knowhow, and JCB's global recognition, vast alliances and brand reach.
This is part of the first tranche of funding on the horizon for Soft Space with other investments to follow in the future. The partnership also demonstrates the confidence JCB has in Soft Space's management, technology portfolio and execution strategy in today's highly competitive fintech industry.
JCB owns and operates one of the largest payment schemes in Japan supporting about 37 million merchants and 140 million cardmembers around the world, by capitalising on Asia's economic growth. Backed by these assets, JCB has a vision to become "Asia's leading payment brand" and will expand the brand globally by leveraging its strength in Asia - especially in Southeast Asia ("SEA") - to become a competitive brand preferred by Japanese and international cardmembers.
To this end, JCB has targeted SEA as a strategic business enhancement region and has established its ASEAN Business Enhancement and Creation Department in Singapore last June to seek business opportunities within the region. This will serve as a template for further strategic alliances and investments within the region.
The strategic partnership with Soft Space also aims to harness synergies between the two parties and includes the expansion of JCB's merchant network, the establishment of card issuing solutions, and the provision of customer marketing solutions.
Other collaborative areas include, but not limited to, enhanced merchant acceptance, mobility-as-a-service (MaaS) and transit; payment gateways; cards-as-a-service (CaaS); white label services, API platform services and technical support services.
Both Soft Space and JCB are committed to accelerating cashless payment both in Malaysia and SEA by utilising competitive and advanced fintech technologies, thereby establishing a link between Japanese consumers to SEA.
"I am honoured to announce this investment and collaboration agreement. I believe this is not just an investment, but the first step towards realising the boundless possibility with Soft Space," said Yoshiki Kaneko, President & COO of JCB International Co. Ltd. "We are capitalising on this opportunity to expand and secure our business in SEA by utilising Soft Space's cutting-edge technology and robust network with the financial institutions. We are confident that this collaboration will go beyond Malaysia and expand across the globe."
"We are humbled by this investment by JCB," said Joel Tay, Chief Executive Officer of Soft Space. "Being JCB's first investee in Malaysia assures us that we are on track to develop financial solutions that will fortify payment acceptance between Japan and SEA, and benefit both regions when borders open up again. This bridge between our regions will also serve as a roadmap for us to enter other regions globally in the future."
Today, Soft Space has an expansive range of product offerings that span white-label e-wallet solutions to its flagship Tap to Phone technology, which is the world's first SoftPOS solution to support secure PIN entry. The solution has received endorsements from major card schemes such as Visa, UnionPay International, Mastercard and Malaysia's MyDebit, and has been deployed in some of the largest financial service institutions and corporate enterprises in the Middle East, North America, Europe, and Asia Pacific.
About Soft Space
Founded in 2012, Soft Space is the world's leading SoftPOS player headquartered in Kuala Lumpur, Malaysia. Soft Space simplifies the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. With over 30 financial institutions across 10 countries adopting its payment solutions, Soft Space is supported by MDEC's Global Acceleration and Innovation Network (GAIN) programme and received financial support through MIDA's Domestic Investment Strategic Fund in 2012. In 2018, Soft Space ranked 66th out of 1000 companies in Financial Times 'FT 1000: High Growth Companies in Asia Pacific' Special Report. Subsequently in 2020, Soft Space is also recognised as one of IDC's Fastest Growing Company in 2020. For more information, please visit: https://www.softspace.com.my/
Brenda Lim
Communications Executive
Tel: +603 7494 1222
Email: [email protected]
About JCB
JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 37 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: [email protected]
Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comThe world's leading fintech player, Soft Space Sdn. Bhd. ("Soft Space"), has announced a new strategic partnership with Japan's only international payment brand, JCB Co. Ltd. ("JCB").
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