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Author: Marie Jones

Endpoints News Presents “Why Australia and Agilex Biolabs for your Next Clinical Trial” for Bio Europe 2020

Agilex Biolabs, Australia’s most advanced FDA-inspected specialist bioanalytical laboratory for clinical trials, has partnered with Endpoints News to produce an exceptional step-by-step webinar on how to run your trial in Australia, and why Agilex Biolabs is the leading biolabs partner.

Watch here (no charge) https://tinyurl.com/yyzf6o44

Agilex Biolabs is known internationally for its continued investment in the latest technology, and for attracting some of the leading scientists from Australia and around the world.

The webinar was launched as part of Agilex Biolabs’ presence at Bio Europe. Click here to meet Agilex Biolabs at Bio Europe via the partneringone tool. https://informaconnect.com/bio-europe-virtual/

Dr Kurt J. Sales, Agilex Biolabs Director, Immunoassay B.Sc (Med)(Hons), M.Sc, PhD, PGCM led with a presentation detailing the rapid trials process in Australia.

He stressed the importance of talking to Agilex Biolabs early, even before selecting a CRO and other partners, due to the depth of advice the scientific team can offer Sponsors, and the time it can take to develop some assays.

The webinar also featured leading clinical research specialist Jane Kelly who has 27 years in the industry. She is CEO of CMAX Clinical Research, a major Phase 1 Unit located near Agilex Biolabs.

Kelly pointed to the significant advantages of having the biolabs close to the Phase 1 Unit in terms of sample transfer and data turnaround, and offering a seamless clinical experience for Sponsors.

Agilex Biolabs, the only FDA-inspected lab of its type in the region, also features a rebate of up to 43.5% on clinical trial bioanalytical services spend as part of the Australian Government clinical trial attraction program.

Agilex Biolabs’ world-class bioanalytical facilities have OECD GLP Recognition with NATA (Australian Government OECD GLP Compliance monitoring authority) and ISO 17025 Accreditation for global recognition.

The company has recently expanded its labs by more than 30% to accommodate biotech demand from APAC and the USA. Watch the New Labs Walkthrough Video Here https://www.agilexbiolabs.com/new-labs-video

Agilex Biolabs specialises in bioanalysis of small molecules and biologics for PK, immunogenicity, biomarkers and immunological pharmacodynamics assessments utilising LC-MS/MS, immunoassay (Mesoscale, Gurolab, Luminex) and flow cytometry (BD FACSymphony A3, 20 colour cell analyser).

Agilex also offers pharmacodynamics services that include immunobiology services using the latest state-of-the-art technology to support immunology, cell biology and mode of action assays, including:
– Immunophenotyping
– Receptor occupancy
– Cytokine release assays (whole blood or PBMC stimulation assays) and cytokine/biomarker profiling
– PBMC assays and cellular mechanism of action assays (eg: ADCC)

Agilex Biolabs has more than 90 staff including 65 dedicated laboratory staff, and annually support more than 80 clinical trials. This year they will analyse more than 60,000 samples for pharma/biotechs companies from US, Europe and APAC.

Please Book a Briefing with us before you start your next clinical trial. https://calendly.com/agilexbiolabs/15min

Australia: +61 8 8302 8777 | China: +86 21 8036 9483 | South Korea: +82 80 812 1255 | USA: +1 800 247 1909

About Agilex Biolabs https://www.agilexbiolabs.com/

Agilex Biolabs, Australia’s leading bioanalytical laboratory, has more than 20 years’ experience in performing regulated bioanalysis, including quality method development, method validation and sample analysis services.

Agilex Biolabs has successfully supported hundreds of preclinical and clinical trials around the world where customers choose Australia for the streamlined regulatory process and access to the world’s most attractive R&D rebate of more than 40% on clinical trial work conducted in Australia.

The company offers services for both small molecules and biologics for PK, immunogenicity (PD) and biomarker bioanalysis utilising the two platforms of LC-MS/MS and Immunoassay.

Agilex Biolabs operates a fully quality-assured laboratory ensuring that, within the principles of GLP, assays are validated to the latest FDA/EMA guidance and study samples are assayed and reported to the sponsor’s desired format using WATSON LIMS. Laboratory certifications include OECD GLP and ISO/IEC17025.

Media Contact:
Media@AgilexBiolabs.com
Kate Newton

October 27, 2020
SDK to Split Its Optical Semiconductor Business

TOKYO, Oct 27, 2020 – Showa Denko (SDK; TSE:4004) decided at its Board of Directors’ meeting today to split its business in optical semiconductors and rare earth alloys through an absorption-type company split effective January 1, 2021 (hereinafter “the Company Split”). Showa Denko Photonics Co., Ltd., a wholly-owned subsidiary of SDK, will succeed to the business.

As the Company Split is to be implemented through a simplified absorption-type company split between SDK and its wholly-owned subsidiary, part of details is omitted in this disclosure.

1. Objective of the Company Split

In its medium-term business plan “The TOP 2021,” SDK aims to establish itself as a “KOSEIHA Company,” which means a group of KOSEIHA businesses that can maintain their profitability and stability at high levels over a long period. The optical semiconductor business is classified as one of the “Grow” businesses under the plan. SDK aims to expand the business in this growth market by providing products and technologies meeting customer needs, thereby developing it into one of its KOSEIHA businesses.

To achieve this goal, SDK will make the business an operating company, increasing the speed of decision-making and sharing of the latest market information. By focusing on the
growing business in infrared light-receiving/emitting devices, we will meet customers’ requirements, taking advantage of our industry-leading product quality and customizing capability.

We will transfer the business to a newly-established subsidiary Showa Denko Photonics through an absorption-type company split.

2. Outline of the company split

(1) Schedules
Approval of the contract by SDK’s Board of Directors’ meeting: October 27, 2020
Conclusion of the contract: November 6, 2020
Approval of the contract by Showa Denko Photonics’s shareholders’ meeting: October 27, 2020
Effective date: January 1, 2021 (planned)
Note: The Company Split will be a simplified company split under Article 784, paragraph 2, of the Companies Act. Thus, there will be no procedure for approval by SDK’s shareholders’ meeting.

(2) Method of company split
This will be an absorption-type company split, with SDK serving as the splitting company and Showa Denko Photonics as the succeeding company.

(3) Allotment pertaining to company split
At the time of the Company Split, Showa Denko Photonics will deliver its 100 common shares to SDK.

(4) Handling of warrant and bond with warrant pertaining to company split
Not available

(5) Increase/decrease in capital stock due to company split
There will be no change in SDK’s capital stock due to the Company Split.

(6) Rights and obligations to be transferred
As the succeeding company, Showa Denko Photonics will assume SDK’s rights and obligations regarding the business in optical semiconductors and rare earth alloys on the effective date.

(7) Prospect of fulfillment of obligations
SDK considers that there will be no problem about the prospect of fulfillment of obligations by Showa Denko Photonics after the Company Split.

3. Outline of the parties to company split (as of October 27, 2020)

Splitting company
(1) Name: Showa Denko K.K.
(2) Location: 13-9, Shiba Daimon 1-chome, Minato-ku, Tokyo
(3) Representative: Kohei Morikawa, President
(4) Scope of business: Production and sale of petrochemicals, gas products, specialty chemicals, electronics, inorganics, aluminum, etc.
(5) Capital stock: 140,564 million yen
(6) Date of incorporation: June 1, 1939
(7) Number of shares issued: 1,497,112,926
(8) Accounting term: December 31
(9) Major shareholders and rate of shareholding:
The Master Trust Bank of Japan Ltd. (Trust Account) 7.24%
KOREA SECURITIES DEPOSITORY-SAMSUNG 4.80%
Japan Trustee Services Bank, Ltd. (Trust Account) 3.51%
Fukoku Mutual Life Insurance Company 3.09%
Japan Trustee Services Bank, Ltd. (Trust Account 7) 2.21%
(10) Net assets: 519,433 million yen
(11) Total assets: 1,076,381 million yen
(12) Net assets per share: 3,423.25 yen
(13) Net sales: 906,454 million yen
(14) Operating income: 120,798 million yen
(15) Ordinary income: 119,293 million yen
(16) Net income attributable to owners of the parent: 73,088 million yen
(17) Net income per share: 501.03 yen

Succeeding company
(1) Name: Showa Denko Photonics Co., Ltd.
(2) Location: 1505 Shimokagemori, Chichibu, Saitama Prefecture
(3) Representative: Masahiko Usuda, President
(4) Scope of business: Production and sale of visible-light & infrared LEDs, light-receiving epitaxial wafers, and rare earth alloys
(5) Capital stock: 1 yen
(6) Date of incorporation: October 9, 2020
(7) Number of shares issued: 100
(8) Accounting term: December 31
(9) Major shareholders and rate of shareholding: –
(10) Net assets: 1 yen
(11) Total assets: 1 yen
(12) Net assets per share: 0.01 yen
(13) Net sales: –
(14) Operating income: –
(15) Ordinary income: –
(16) Net income attributable to owners of the parent: –
(17) Net income per share: –
As for item (9), descriptions about SDK represent the situation as of June 30, 2020.
As for items from (10) through (17), figures for SDK are based on the financial statements for the fiscal year ended December 2019.

4. Outline of the business division to be split

(1) Scope of business of the division to be split
Production and sale of SDK’s visible-light and infrared LEDs, light-receiving epitaxial wafers, and rare earth alloys

(2) Performance of the division to be split (for the fiscal year ended December 2019)
Net sales: 4,799 million yen

(3) Items and amounts of assets/liabilities to be split
Assets
Current assets: 1,185 million yen
Fixed assets: 559 million yen
Total: 1,744 million yen

Liabilities
Current liabilities: 0 million yen
Long-term liabilities: 0 million yen
Total: 0 million yen

Note: The figures shown above are based on the balance sheet as of June 30, 2020. The actual amount of assets and liabilities to be split will be finalized in consideration of increases/decreases until the effective date.

5. Outline of listed company and succeeding company after absorption-type company split

Splitting company
(1) Name: Showa Denko K.K.
(2) Location: 13-9, Shiba Daimon 1-chome, Minato-ku, Tokyo
(3) Representative: Kohei Morikawa, President
(4) Scope of business: Production and sale of petrochemicals, gas products, specialty chemicals, electronics, inorganics, aluminum, etc.
(5) Capital stock: 140,564 million yen
(6) Accounting term: December 31

Succeeding company
(1) Name: Showa Denko Photonics Co., Ltd.
(2) Location: 1505 Shimokagemori, Chichibu, Saitama Prefecture
(3) Representative: Masahiko Usuda, President
(4) Scope of business: Production and sale of visible-light & infrared LEDs, light-receiving epitaxial wafers, and rare earth alloys
(5) Capital stock: 100 million yen
(6) Accounting term: December 31

6. Future prospects

As the Company Split is to be implemented as a business transfer to a wholly-owned consolidated subsidiary of SDK, it will have only minor influence on SDK’s business performance.

About Showa Denko K.K.

Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high bright LEDs, and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

October 27, 2020
Wintermar Offshore (WINS:JK) Reports 9M2020 Results
Wintermar Offshore Marine (WINS:JK) has announced results for 9M2020. Wintermar’s Owned Vessel revenue for 9M2020 was 17% lower YOY at US$24.6 million and there was a slight improvement on a quarterly basis in 3Q2020 compared to 2Q2020.

–Owned Vessel Division
For the 9M2020 period, Owned Vessel Division recorded a gross loss of US$2.8 million, largely due to cancellations and postponement of contracts caused by the pandemic. Cost efficiency measures and a streamlining of the fleet undertaken since last year led to a 14% YOY decline in Owned Vessel direct expenses, which helped mitigate some of the losses.

On a quarterly basis, revenue for 3Q2020 was slightly improved as compared to 2Q2020 while direct expenses fell.

Measures taken to improve cost efficiency resulted in a 14% reduction in direct expenses for Owned Vessels. Fuel costs dropped sharply by 71% YOY while depreciation fell by 14% YOY due to the sale of 4 vessels in the period 1 January 2020 until 30 September 2020. However, due to the cost of extra precautions taken to ensure the health and safety of crew and clients crewing costs were only 3% lower YOY for 9M2020.

–Chartering and Other Services
Chartering was also negatively affected, contributing US$0.4 million to gross profit as compared to US$1 million in 9M2019. Other Services experienced a similar decline and contributed US$0.3 million to gross profit for 9M2020.

–Indirect Expenses and Operating Loss
Overall, indirect expenses were 15% lower YOY, totaling US$4.5 million for 9M2020. The biggest contributor to these savings was a 15% YOY decline in staff salaries. This was due to lower headcount as well as a voluntary salary reduction supported by all levels of management and staff to mitigate the impact of the pandemic. Marketing and travelling expenses fell YOY by 74% and 43% respectively while lower depreciation also contributed to the cost reduction for 9M2020 compared to 9M2019.

The Operating Loss was 17% YOY higher at US$6.5 million for 9M2020.

–Other Income, Expenses and Net Attributable profit
Interest expenses fell by 27% YOY to US$2.5 million, largely due to lower debt as the Company paid off US$5.7 million of bank loans over the past 9 months. Vessel sale proceeds of US$4,9 million added US$1.2 million to other income, while share of associate companies’ losses widened to US$0.4 million from US$0.02 million.

For the nine months ending 30 September 2020, the net loss attributable to shareholders totalled US$7.4 million compared to US$5.7 million in 9M2019.

EBITDA for 9M2020 was US$9 million, compared to US$12.5 million booked in 9M2019.

–Oil & Gas Industry
Activity was slow during 3Q2020, as the world continued to grapple with measures to control the COVID-19 pandemic. In South East Asia, charter rates have been stagnant and are unlikely to drop much further as they are barely covering cash costs. However, leading indicators for oil and gas are turning more positive.

In its October report, the International Energy Agency (IEA) projected that world demand for oil would return to 96.1 million bpd by Q42020 compared to an average of 100.1 million bpd for 2019. This represents a sharp recovery from 2Q2020 where global oil demand fell to the lowest point at 83 million bpd. On the supply side, oil and gas production has been hit hard as many Exploration and Production companies have cut back on investments due to financial pressures. OPEC+ has shown high compliance in maintaining lower production. If IEA projections are achieved, excess oil inventories may be drawn down by end of 2020, which is potentially good news for oil price stability and strength in 2021.

A recent study by Rystad Energy has concluded that deepwater drilling costs have fallen to US$50/barrel, lower than US shale production costs. Should oil prices recover, there are several potential offshore projects in SE Asia which could provide increased gas supply.

SKK MIGAS, Indonesia’s regulator for the upstream oil and gas sector, has just reiterated in October 2020 their plans to boost oil and gas production to achieve their target of 1 million bpd by 2030 from 746,000 bpd in 2020. Since Indonesia has several discovered but undeveloped fields, this would actually be an achievable goal if the government is able to deliver on their plans for enhanced oil recovery and exploration.

–Strategy and Outlook
As countries have started to ease their COVID-19 restrictions on travel and business activities, there has been a gradual but steady recovery in oil and gas demand. China, which was early to emerge from lockdown, has shown a sharp recovery in economic growth.

The economic slump and spike in unemployment worldwide is being addressed through stimulus packages proposed by governments around the world. The threat of a resurgence of the virus seems to be handled with more localized lockdown measures to limit the harsh economic effects of COVID-19 “lockdown” restrictions. All this points to a gradual recovery of demand for oil in the coming year.

Although 2020 results will continue to be plagued by the pandemic’s effect on reducing oil demand, there has started to be more tendering activity in 4Q2020 which is indicative of better times in 2021.

Rystad Energy research is projecting growth in South East Asian gas production. Wintermar has been building up a presence in Malaysia, Brunei and Myanmar for the past few years, as we position the Company to be a major player in Asia.

Contracts on hand as at end September 2020 amount to US$70 million.

About Wintermar Offshore Marine Group
Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 48 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by experienced Indonesian crew, tracked by satellite systems and monitored in real time by shore-based Vessel Teams.

Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd’s Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

Contact:
```
Ms. Pek Swan Layanto, CFA  
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel: +62-21 530 5201 Ext 401
Email: investor_relations@wintermar.com
```
October 27, 2020
Pacific Green Builds Out Senior Management Team Appointing Xavier Lara As Senior Vice President, Concentrated Solar Power

Pacific Green Technologies, Inc. (the “Company” or “PGTK”, (OTCQB:PGTK)) announces the appointment of Xavier Lara as Senior Vice President, Concentrated Solar Power, effective October 26, 2020.

Xavier is one of the pre-eminent experts in the Concentrated Solar Power (CSP) sector, with over twenty-five years’ experience, including various senior-level roles for AELIUS Engineers and Consultants, Empresarios Agrupados, ACWA Power and NextEra Energy. Xavier joins Pacific Green having recently served as Project Director on billion dollar Cleantech developments around the world.

Scott Poulter, PGTK’s Chief Executive commented: “As we continue to build on our existing CSP capabilities, we believe Xavier’s unparalleled sales and operations expertise will allow the company to take another step in becoming an industry-leader in this flourishing sector. Xavier brings an exceptional skill set and decades of on-the-ground experience leading flagship CSP projects. Xavier will oversee our rapidly growing CSP business stream and we enthusiastically welcome him to our team.”

Xavier Lara, Senior Vice President, Concentrated Solar Power, commented: “Following the acquisition of ENGIN, Pacific Green has positioned itself for success in the CSP space and I look forward to being part of the team to help Pacific Green continue its path to become a world leader in the design and manufacture of CSP systems.”

Scott added: “Pacific Green and PowerChina have combined to form an engineering and manufacturing powerhouse, but we believe Xavier’s addition to our existing design resources in ENGIN will be instrumental in helping us achieve our goal to be a world leader in this important new sector.”

Xavier holds an MEng in Industrial Engineering (Mechanical), an MSc in HSE (Occupational Risk Prevention) and a BSc Hons in Astronomy (Solar Astrophysics).

About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company’s strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting-edge technologies designed to meet increasingly stringent environmental standards. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

About POWERCHINA SPEM Co. Ltd
POWERCHINA SPEM is a subsidiary of POWERCHINA, the largest power equipment manufacturer in the PRC. With abundant resources, expertise, strong manufacturing capacity, domestic sales channels and rich experience, POWERCHINA SPEM is in a strong position to deploy PGTK technology throughout the PRC.

Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s technologies, potential business developments around the world and future interest in our green technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the JV with POWERCHINA SPEM, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

October 27, 2020
Infinito Wallet and Moonstake enable staking and investment tools for Cardano ADA community

Infinito Wallet, the leading multi-crypto wallet today announces a multitude of valuable new features targeted at ADA users. These include support for new Cardano blockchain upgrade, staking and trading features for ADA assets, as well as full wallet compatibility with Daedalus and Yoroi Wallet by allowing users to import 24-word and 15-word passphrase, respectively into Infinito Wallet.

This new app release further cements Infinito Wallet’s long-standing position to make crypto easy for mass adoption, still with extensive support for the Cardano community.

Starting from September 2018, through a strong collaboration with IOHK, Infinito Wallet has been one of the first mobile wallets supporting ADA. With the recent arrival of Cardano’s Shelley era and the explosive growth of ADA’s market value by over 50%, Infinito Wallet continues its steady support for ADA user base. Just last month, Infinito Wallet has engaged in a strategic partnership with Moonstake, builder of Asia’s Biggest Staking Network to enhance the staking Ecosystem and Defi projects. Starting today, Infinito Wallet users can easily earn staking rewards from ADA Moonstake pool in a few clicks.

Speaking on the recent Cardano-focus development of the wallet, Infinito’s Director, Jack Nguyen, says: “Infinito Wallet is honored to continue providing best-in-class support for users invested in ADA and the fast-growing Cardano blockchain. Our wallet has a long and proud history of serving ADA users and now, in collaboration with Moonstake, we are excited to bring them now the ability to earn staking rewards in the new Shelley era of Cardano. Infinito Wallet hopes to continue being the number-one wallet choice for anyone invested in the Cardano ecosystem, and we will always be sure to bring users all the latest and greatest utilities of ADA.”

About Infinito
Infinito Wallet is a secure multi-crypto wallet that helps users easily start investing and earning more with the crypto finance market. It supports over 2,000 top-ranking coins and tokens, and provides a full set of financial tools including Buy – Trade – Earn – Use cryptocurrencies. Infinito Wallet is frequently ranked amongst the best wallets for crypto communities. Learn more about Infinito at https://infinitowallet.io.

About Moonstake
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Staking adopts Proof of Stake (PoS) as a type of consensus algorithm which allows cryptocurrency holders to increase the likelihood of receiving block rewards from its block validation transaction. It brings together the ability to stake and ultimately distributes block rewards based on contribution. Moonstake develops a staking pool protocol and provides business services through partners and companies. Staking is expected to help elevate the blockchain technology and work for decentralization. https://www.moonstake.io.

October 27, 2020
Raffles Financial Announces Strategic Cooperation with Shanghai Lingang Free Trade Zone Technology Hub

Raffles Financial Group Limited (CSE: RICH) (FSE: 4VO) (OTC: RAFFF) today announced that its wholly owned subsidiary Raffles Financial Private Limited (“Raffles”) has entered into a 3-Year Strategic Cooperation Agreement (the “Agreement”) with Shanghai Lingang Technology Entrepreneurship Center Co., Ltd. (“Lingang”) on October 22, 2020 (the “Cooperation”).

Raffles, equipped with professional background and experience in corporate finance, will support Lingang in building an incubation centre for fast-growing tech firms with leading disruptive technologies. Raffles’ role is to assist in screening, inviting, coaching, developing “mega unicorn potential” companies with the aim to secure funding via public listing on major stock exchanges worldwide.

“Lingang has 17 hubs, hosting more than 20,000 high-tech firms, spread across the key provinces in China and Raffles’ mandate is to provide these and future hubs with the full suite of Raffles Financial solutions including bespoke services designed for Lingang like the Unicorn Acceleration Program,” explained Dr. Charlie In, Chairman of Raffles.

Raffles will also provide the Lingang companies with advisory and arrangement services in financing restructuring, overseas listing, mergers and acquisitions, overseas trusts, global strategic alliances, investor relations, post-listing market development and corporate governance.

About Lingang Technology Hub

Shanghai Lingang Technology Entrepreneurship Center Co., Ltd. (“Lingang”) is located in the International Innovation Collaboration Zone of the Lingang New Area of China (Shanghai) Pilot Free Trade Zone (“FTZ”), established in August 2019, that serves as a national technology incubation hub. The FTZ priority is to attract ‘mega unicorn’ technology companies into Lingang with preferential governmental policies and tax rates, seamless cross-border financial, talent, and technology transfers starting with the Shanghai Technology Exchange.

Technology players in the artificial intelligence, biotech, green energy & environment technologies, financial technologies, integrated circuits and life sciences will be invited to house their HQ in Lingang. Lingang is now home to global firms like Tesla, BMW, General Electric (GE), and Siemens.

About Raffles Financial Group Limited (CSE: RICH) (GR: 4VO) (OTC: RAFFF)

Raffles Financial Pte Ltd (a wholly owned subsidiary of Raffles Financial Group Limited) is an exempt corporate finance advisory firm, registered with the Monetary Authority of Singapore, which provides public listing advisory and arrangement services. Raffles Financial serves as advisor for family trusts, family offices and investment funds. Please visit www.rafflesfinancial.co for more information.

For more information, please contact:
Cathy Hume, Investor Relations
Phone: 416-868-1079 x 231
Email: cathy@chfir.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in Canadian securities laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the anticipated partnerships with financial institutions worldwide and the growth potential through Province Representatives. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66830

October 26, 2020
kasko2go Open Source Solution Supports Profitability of European Auto Insurance

Genadi Man, CEO of kasko2go

Genadi Man, CEO of kasko2go, has announced that his company’s advanced open source solution would be made available free of charge, to reduce the dramatic losses in the car insurance industry with a high-tech open source product. Speaking at this year’s telematics trade fair (Leipzig, Germany, 6-7 October), kasko2go said it aims to make the business model of Swiss and foreign insurers “significantly more profitable”

kasko2go has been developed and tested on more than 100,000 drivers in Europe. In Switzerland the software has been on the market for almost two years. The decision is to give the 900 European and Swiss motor vehicle insurance companies free access to telematics technology, enabling them to create Usage-Based-Insurance (UBI) products without high investment costs. kasko2go is aiming at real change and optimisation in the market.

kasko2go open source solution

Potential to be developed

The European motor insurance market has immense potential with revenues from motor insurance premiums of 135.3 billion euros in 2016. In the same year, however, 103.5 billion euros were also paid out in insurance claims. This means that 76.5% of the income from motor insurance premiums had to be spent on claims, and explains the low margins of car insurers.*

Genadi Man explains “Why do we offer an open source solution? With the kasko2go solution approach there is enormous potential to change the industrial landscape in the field of motor vehicle insurance. Annual revenues in Europe amount to around 130 billion euros. If you take into account the high loss ratio of 76.5%, you realise that this business is not profitable. Our goal is to change the car insurance landscape sustainably – in a positive way.”

Abolish an outdated business model

Traditional car insurers still base their risks on archaic parameters such as age, origin and gender. However, these business models lead to a high loss ratio because they are based on retrospective data, such as events that have already occurred. kasko2go, on the other hand, relies on empirical, behavioural and location-related information. This innovative solution is able to develop a comprehensive risk for the individual risk of each driver.

Low-risk drivers currently share the high costs of high-risk drivers. kasko2go’s open source solution enables insurance companies to identify their risks in a targeted manner and to categorise them accordingly. This makes it possible to offer attractive premiums to low-risk drivers and create a portfolio with profitable policyholders.

What the experts say

Remo Weibel, Swiss Life Select for 25 years, 10 as CEO and Executive Boardmember, is an expert in financial products and serves on the Advisory Board of kasko2go. He says “For insurers, access to more behavioural data on motorists will help them to process claims more quickly and efficiently, to better understand the price of the risks they underwrite and to offer innovative new products and services to their current and new policyholders”.

Frederic Bruneteau, Managing Director of PTOLEMUS Consulting Group, combines expertise in connected mobility with strategy and market analysis to support clients in shaping future mobility. Published in insurance telematics, analytics and connected vehicles, he says “kasko2go is the first company in Europe to pursue the vision of an industry standard in insurance driver rating and to take the necessary steps to achieve this goal”.

*Source: Insurance Europe, “European Motor Insurance Markets”, February 2019

About kasko2go AG

Zug-based kasko2go is an innovative provider of insurance solutions that aims to promote a safe driving culture in society. With specially developed AI and telematic big data assessments Pay-As-You-Drive and Pay-How-You-Drive models, kasko2go reduces insurance premiums by up to 50%. Since April 2019, kasko2go and its insurance partner, Dextra Versicherungen AG, have been offering a revolutionary car insurance app in Switzerland, which calculates the premium according to individual driving behaviour.

Visit www.kasko2go.com, register at https://twitter.com/kasko2go or see www.linkedin.com/company/kasko2go/.

Genadi Man, kasko2go
e: g.man@kasko2go.com, t: +41 79 852 12 30
Steinhauserstrasse 74, 6300 Zug, Switzerland

October 26, 2020
KFC Indonesia Presents Naughty by Nature, The First Lifestyle-dining and Salad Bar

Naughty by Nature offers new dining experience, combining salad dish with KFC’s Signature Chicken

KFC Indonesia presents Naughty by Nature, a lifestyle dining and salad bar restaurant which is a breakthrough originally concepted by KFC Indonesia. Naughty by Nature which is located at Jalan Senopati no. 24A South Jakarta was officially opened for public since Friday, October 16, 2020, in coincide with KFC Indonesia’s 41st anniversary. Green lifestyle trends among urbanites and culinary trends which always evolve along with times and technology developement become the inspiration for KFC Indonesia to keep innovating and offering different dining experiences. Naughty by Nature offers exciting new way to enjoy salads and vegetables, by combining it with KFC’s signature chicken as the protein.

Naughty by Nature aims to fulfill consumers who are cravings for salad whilst still want to consume other foods that are more fulfilling as well. Naughty by Nature’s signature menu is Meal Market Platter, where consumers can freely combine various choices of KFC chicken such as Grilled Chicken, O.R Chicken, Hot and Crispy, and Chicken Skin as the protein with a wide selection of vegetables ranging from fresh vegetables such as kale caesar, sweet potato salad, kale slaw to grilled vegetables such as roasted baby potatoes, mashed potatoes, zucchini gratin and others as side dish. Naughty by Nature also offers a variety of innovative food creations bringing KFC chicken into gourmet-style dishes such as chicken tacos, pasta, KFC chicken geprek; and egg-based foods and various snacks which can surely be enjoyed by everyone and according to Indonesian taste reference. Moreover, Naughty by Nature also offers various kinds of drinks such as smoothies, milkshakes and coffee, as well as desserts.

Naughty by Nature comes with a totally different concept from any KFC outlets in Indonesia. Displaying an open kitchen for consumers to see how their food is freshly prepared. Located in a strategic area at the center of Jakarta which is easily accessible, Naughty by Nature targets the urbanites with modern lifestyle who like to try new culinary trends, enjoy socializing and prefer an ‘instagrammable’ restaurant atmosphere. Naughty by Nature restaurant offers a cozy, trendy and luxurious lifestyle dining style that will make consumers feel comfortable hanging out with family and friends while enjoying delicious and fun dishes. The cool and trendy impression at Naughty by Nature outlet is also supported by the existence of a music lounge/podcast room on the dining area’s mezzanine floor. With 150 visitor of total capacity and carrying eco-friendly concept, Naughty by Nature ambience is dominated with calming earth-tone colors, wood-nuanced, and open space concept.

Hendra Yuniarto, General Manager Marketing of PT Fast Food Indonesia stated, “As part of cultivating the original idea of KFC Indonesia to introduce a lifestyle dining and salad bar to consumers, we have conducted research and development (R&D) in developing Naughty by Nature concept and menu. Not only the concept of restaurants and menus, we also choose natural concept for our exterior and interior design which closely related to current urban green lifestyle. The presence of Naughty by Nature aims to fill the gap in the culinary market targeted at consumers who love to consume vegetables but still want savory, fun, filling up and appetizing dish.”

As we are still within the transition period of the pacdemic, Naughty by Nature implements strict health protocol system as required by the Government for safety, health and mutual comfort, including limiting restaurant visitor capacity by 50% with operating times from 10:00 – 18:00 on Monday-Thursday and from 07:00 – 18:00 on Friday-Sunday. To see Naughty by Nature various and fun menu and see the restaurant concept, consumers can easily find them on @Naughtybynaturekfc Instagram account or scan the following QR code for the menu.

ABOUT PT FAST FOOD INDONESIA TBK

PT Fast Food Indonesia, Tbk. Established in 1978 and hold the retail business license of KFC Indonesia. The first KFC built in 1979 in Jakarta. The superior products of KFC are New Improved Original Recipe and Hot Crispy Chicken that become the most loved fried chicken in several consumers survey in Indonesia. On the journey, KFC continues to add its superior menu collections.

For over 41 years being in fast food chain industry Indonesia, currently KFC owns 750 stores throughout Indonesia with more than 16,000 employees.

As the restaurant with the slogan of ‘Jagonya Ayam’, KFC always use the high-quality chicken meat from the qualified chicken processing place, so the produced chicken meat is guaranteed, hygenic and healty. All of the ingredients and products served by KFC not only chicken meat have been certified Halal from the Indonesian Ulama Council (MUI) and production process from KFC suppliers is monitored by KFC Quality Assurance team.

For further informations:
Ika Diah Rhanny
PT Fast Food Indonesia
T: +62 21 72791777
E: ikah.diah@ffi.co.id

Dita Wasis
Eureka! PR
T: +62 811 165 195
E: dita@eureka-id.net

October 26, 2020
Building Environmental Awareness through Religious Leaders Training on Peatland and Conservation

In this modern world, all humankind has been affected by the impact of the global climate crisis. Not only facing the impact of the Covid-19 Pandemic, we also have to deal with floods and forest fires currently occurring in our region.

Scientists have given extensive warning regarding the effects of climate change on our planet, however collective action to hinder the climate crisis is largely considered to be too slow.

At the Rimba Raya Biodiversity Project, we have made concerted efforts to play a leading role in mitigating the damage done to the environment in our region through the introduction of various initiatives, including a spiritual approach to change community behaviour and to engage them by encouraging active involvement and inclusion in all efforts taken to preserve the environment and to minimize damage.

Rimba Raya empowers local community members to play a role in protecting and conserving the peat forest with a long-term philosophy of ‘community for healthy forests and climate’. The project aims to consistently work towards achieving the UN’s SDGs, both within the project area and the bordering villages. In September 2020, Rimba Raya Biodiversity Reserve became the world’s first forest conservation project to independently verify its contributions to the environment, biodiversity and social SDGs under the newly created Sustainable Development Verified Impact Standard (SD VISta), and has managed to target all the 17 SDGs goal.

In collaboration with the National Peatland Agency (BRG), Seruyan District Government, Rimba Raya conducted “Dai Gambut” Training on the 6-7 October 2020. The training was aimed at promoting capacity building efforts, help increase knowledge regarding peatland restoration and to raise awareness in the importance of being environmentally friendly in our daily activities.

The training was conducted combination between online and offline in Kuala Pembuang. There were 28 (twenty-eight) participants from 14 villages. The speakers; Kyai Cholil Nafis and Kyai Sholahuddin Al Aiyub (Wasekjen Field MUI Fatwa) used zoom to convey “environmental fiqh” (Muslim jurisprudence). The in-person meetings were presented by Dr. Fachruddin Mangunjaya or well known as Ustad Rudi. Topics included; Fusing Faith, Education and Environmentalism.

“Taking care of the environment is about making action and behavioural changes that are controlled by the human heart and mind. A religious approach can contribute to highlighting the importance of caring for our environment,” said Ustad Rudi during a training session.

After training, the Da’i will share their knowledge through religious preaching about the importance of having healthy peatland, healthy forests and the need to practice conservation and land clearing without the traditional ‘slash and burn’ technique.

“This collaboration with BRG is very beneficial for the Rimba Raya project. The hope is to encourage a change in behaviour and increase public awareness to the importance of preserving the peatland ecosystem,” said Sylviana Andhella, Executive Director of Rimba Raya Conservation.

Rimba Raya has established a partnership agreement with the National Peatland Agency (BRG) from June to December 2020 under the Deputy of Education, Socialization, Participation and Partnership. This includes 5 activities namely; peatland restoration socialization, Da’i training and/or Peat Care Pastor, Sustainable Farmer Field School, peatland restoration literature (for students); understanding value added commodities (Non-Timber products) in the 14 villages that are within the RRC working areas.

The project area acts as a vital buffer zone for TN Tanjung Puting National Park and focuses on Ecosystem Restoration. It aims to restore and preserve the tropical peat swamp forest which is essential habitat for orangutans and is managed under the principles of ecology and economic & social management. Initiatives implemented positively impact 14 villages in two sub-districts (Seruyan Hilir and Danau Sembuluh), in the Seruyan Regency, Central Kalimantan.

Rimba Raya initiatives are developed by InfiniteEARTH with a focus on assisting local communities to improve their economic status and embrace the positive impacts of being a REDD+ project.

Contacts:
Frita Junita
Communication Officer Rimba Raya Conservation
Email: rimbarayajakarta@gmail.com
Hp: +62 857-1743-7001

October 26, 2020
Endowus launches Fund Smart for Singapore investors: Build customisable portfolios with direct access to curated institutional best-in-class funds from the world’s leading asset managers

Endowus.com, Singapore’s leading MAS-licensed digital wealth management platform and the first and only digital advisor for the Central Provident Fund (CPF), has announced the launch of their new investment solution – Fund Smart. Singapore investors can now build investment portfolios from a selection of institutional share-class and trailer-fee free funds curated by the Endowus Investment Office, led by Samuel Rhee, Chairman & Chief Investment Officer at Endowus. This new solution gives investors the ability to customise their fund allocations, analyse the historical and projected performance, as well as look-through the underlying exposure and total costs across the selected funds. It also provides real time advice to investors on the suitability of the portfolio they have created against their financial needs. Similar to existing Endowus investment offerings, Fund Smart has no sales fees, no transaction fees, no lock-ups and 100% trailer fee rebates. Endowus has also built in automated rebalancing and regular savings plans capabilities to improve the client investment experience.

Endowus launched a market survey to better understand Singaporeans’ investment preferences and needs prior to designing Fund Smart. The majority of respondents indicated a strong preference for the flexibility to customise their own investment portfolios, with exposure to specific geographies or sectors (74.5%) and lower costs (84%) as key considerations. Endowus Investment Office sought to design a differentiated investment solution to take into consideration Singaporeans’ investment needs and also provide quality advice in the form of curated fund selection and model portfolios.

Samuel Rhee, Chairman and Chief Investment Officer at Endowus, said: “Fund Smart’s value proposition is clear. People struggle with too many options – a growing array of platforms, and far too many funds to choose from with confusing fee structures. Transparency is important to us as it should be to our clients. We want our clients to experience the same quality of advice we have provided with our core portfolio products, but now with greater flexibility as we introduce a new way of investing through Fund Smart. Stick to our advised and new model portfolios, or make the tweaks you need. It’s that simple. And at the same low and aligned fees you can’t get elsewhere.”

The curated model portfolios include an ultra-defensive fixed income portfolio to prioritise capital preservation to weather volatility in markets and also flexible cash management solutions, as well as thematic and sector-focused portfolios such as ESG (Environment, Social, Governance) or SRI (Socially Responsible Investing) funds, Shariah-compliant funds, and thematic funds.

Funds available on Fund Smart include those managed by Dimensional Fund Advisors, PIMCO, Vanguard, Schroders, First Sentier, Franklin Templeton, Eastspring, Fidelity, PineBridge, Legg Mason, Fullerton, Lion Global, Nikko, and UOB Asset Management.

Endowus’ no sales fee and 100% trailer fee rebate policy not only lowers the total cost of investment, but also ensures alignment of interests with the investors. As a fee-only advisory firm, Endowus is not incentivised by product providers paying them hidden sales kickbacks. The average net cost of managing portfolios with Endowus is 65% cheaper than trying to replicate the portfolios on popular platforms and private banks in the market.

Kimberley Stafford, Managing Director and Head of PIMCO Asia Pacific said, “PIMCO has had the pleasure to collaborate with Endowus since their launch. With its unique solution offerings and the launch of the new innovative Fund Smart solution, we believe Endowus, as an industry leading digital wealth management platform, will help broaden PIMCO’s outreach to retail investors in Singapore and provide them with the access to our fuller range of global fixed income investment solutions.”

Gregory Van, Founding Partner at Endowus, said “Fund Smart provides transparency and flexibility for clients to express their investment views through access to best-in-class funds, all on a secure wealth platform that is home to all their money – Cash, CPF and SRS. We will continue to help clients cut through the clutter, keep fees low and aligned, and improve everyone’s investment experience.”

Joel Kim, CEO of Dimensional Asia ex-Japan, said “Dimensional is pleased to have worked with Endowus since they started serving Singaporean investors. They are one of the pioneers of fee-based independent advice in Singapore with a strong focus on low cost, transparent and systematic approach to investing. Endowus’ launch of the Fund Smart solution is a significant evolution in their advice offering for Singaporeans wishing to invest more of their savings with Dimensional through Endowus.”

Safety and Security together with Ease of Use Are Still Important

According to the investor survey conducted, the safety and security of the platform (83.9%) are crucial deciding factors in determining where Singaporeans invest. Through Endowus’ partnership with Singapore’s largest broker UOB Kay Hian, all client assets and investments are safely held in trust under the client’s own name. As with all of the Fintech company’s product offerings, Endowus Fund Smart gives users a fully digital, fuss-free onboarding experience using MyInfo within minutes from the comfort of their own homes.

About Endowus
Endowus.com is a MAS-licensed financial technology company and the first-and-only digital investment advisor for the Central Provident Fund (CPF), Supplementary Retirement Scheme (SRS), and cash.

Endowus offers access to superior investment products, personalised advice, and lower costs on a seamless digital investment platform for all investors. Partnered with UOB Kay Hian, Singapore’s largest broker, client assets and positions are safely held in the client’s own name. For more info, please visit www.endowus.com/

For media queries, please contact:
PRecious Communications for Endowus
E: endowus@preciouscomms.com
T: +65 6303 0567 / +65 9644 2930

October 26, 2020