SINGAPORE, May 12 (Bernama-BUSINESS WIRE) -- Pine Labs, one of Asia’s leading merchant commerce platforms, today announced that it has deployed its point of sale (PoS) solutions across the 136 stores of Al-Ikhsan, the biggest sports retailer in Malaysia. The fully integrated tech stack of payments, wallets, gift cards, and Buy Now Pay Later (BNPL) by Pine Labs is a solution in use by some of the top retailers across Asia. The ease, speed, and convenience of availing BNPL offers on Pine Labs’ PoS terminals and the availability of leading issuers on a single unified platform are all factors that will help retailers who are looking to boost sales in these tough times.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210511005480/en/ Pine Labs has a commanding 95% market share of offline BNPL services in India and through its subsidiary Pine Payment Solutions has launched BNPL in Malaysia. Al-Ikhsan is Malaysia’s biggest sports retailer in operation since 1993 and their popularity can be gauged from the fact that they are also the exclusive retail partner for Liverpool Football Club (LFC) in Malaysia. The coming together of the two entities will provide affordable instalment purchase options to sports enthusiasts in Malaysia and enable a seamless in-store payment experience as well. “Sports as a category continues to show strong growth in Malaysia. Malaysians like to engage in Football, field hockey, badminton, and squash and their love for sports is well-known. For nearly 30 years now, we have fuelled this passion for sports in the country by providing high quality sports footwear, apparel, and equipment by focusing on our core purpose i.e. to keep Malaysia fit and active by making sports affordable for all. Our customers now have the option of seamlessly converting their purchase at any of our stores into easy instalments and bring home top-quality products from our extensive range,” said Vach Pillutla, CEO, Al-Ikhsan Sports Sdn Bhd. “Al-Ikhsan are pioneers in the sports retail business, and it is our pleasure to join hands with them in Malaysia. With deployment of more than 180 Pine Labs PoS terminals across their 136 stores in Malaysia, their customers now have another reason to rejoice as they get a plethora of payment options to choose from and the ability to convert a purchase into no-cost instalment purchase in a few taps of our PoS device. We are confident that this relationship will grow in the times to come and offer sports enthusiasts in the country a good reason to stay sharp and stay fit in an affordable manner,” said Sharad Gulhar, Head - Merchants and Brands Business APAC, Pine Labs. Pine Labs is expanding its Pay Later proposition to other parts of Southeast Asia as well. Last year, Pine Labs announced it will launch an integrated pay later instalment solution in partnership with Mastercard to markets like Thailand, Philippines, Vietnam, Singapore, and Indonesia. About Al-Ikhsan Sports Al-Ikhsan Sports is the number one multi-brand, multi-category sports retailer in Malaysia, with 128 stores, and that number expected to grow to 140 by the end of this year. The company was founded by an enterprising first-generation entrepreneur when he was just in his early twenties, Mr Ali Hassan bin Mohammed Hassan. The founder saw the local population’s need for sports brands like Nike and Adidas and decided to start with a 150 square foot shop at a small shopping mall in the city of Johor Bahru. About Pine Payment Solutions Pine Payment Solutions Sdn Bhd is a subsidiary of Pine Labs Pte Ltd. One of Asia's leading merchant commerce platforms, Pine Labs serves prominent large, mid-sized and small merchants across Asia and the Middle East. The company's unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions including enterprise automation systems such as inventory management and customer relationship management. Its stored value platform includes issuing, processing, and distributing digital gift cards for corporate customers around the world. Incorporated in Singapore, Pine Labs' key investors include Actis Capital, Mastercard, PayPal, Sequoia India, and Temasek. To know more, please visit www.pinelabs.my View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005480/en/ Contact Ruder Finn Asia Paromita Sinha (91) 9582327649 [email protected] Source : Pine Labs --BERNAMA
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HAIKOU, China, May 11, 2021 /Xinhua-AsiaNet/-- The on-going first China International Consumer Products Expo (CICPE), jointly organized by the Ministry of Commerce and the Hainan Provincial Government, has brought together world's top-notch products, attracting world-wide attention. The four-day Expo, the largest of its kind in the Asia-Pacific region, covers a total exhibition area of 80,000 square meters and has attracted nearly 1,500 domestic and foreign exhibitors from about 70 countries and regions, according to the Hainan International Economic Development Bureau. Exhibits making their exciting and shining appearance or debut at the Expo include the Faberge egg, or the Centenary Egg, which is handcrafted in 18K gold, weighing up to 10 kilograms; a 57-edge black diamond with a value of 250 million yuan; luxurious Lamborghini with the world's limited edition of two units at a price of tens of millions yuan each, attracting visitors watching with great interests. As the global pandemic still spreading, the Hainan authorities have taken strict measures for epidemic prevention and control and logistical service support to ensure safety of the event. Exhibits entering Hainan by air or sea from abroad have gone through the disinfection process, and teams for epidemic prevention and control and medical security are specifically positioned at the exhibition halls and related hotels, according to Han Shengjian, director of the Hainan International Economic Development Bureau. The gathering of global products of best quality in Haikou has provided trading opportunities both for foreign countries to enter the Chinese market, but also for China and other countries to sell their consumer products worldwide. Overseas participants hope to take advantage of the opportunities provided by the Expo to further develop their business at the Chinese consumer market. As the host of CICPE, Hainan is an important stop on the ancient "Maritime Silk Road" and has established close trade relations with the rest of the world. The island province has been accelerating the construction of Hainan Free Trade Port and international tourism consumption center since the announcement of the master plan on this regard on June 1, 2020, vigorously creating an ideal business environment and attracting more international brands to settle. Source: The Hainan International Economic Development Bureau Image Attachments Links: Link: http://asianetnews.net/view-attachment?attach-id=390915 Caption: Participants photographing CICPE Mascot "Yuanxiao" in Hainan International Convention and Exhibition Center, Haikou --BERNAMA Residential Portfolio Comprised of Four Mid-Rise Buildings with 1,161 Units Nearing Completion; Eight-Acre Newark Project Site Includes Plans to Develop 4,200 Residential Units
NEW YORK, May 6 (Bernama-GLOBE NEWSWIRE) -- Madison Realty Capital, a fully integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $395 million loan to Accurate Builders & Developers for a portfolio of assets that includes three nearly-complete multifamily properties located in Bayonne, Raritan and Linden, NJ that includes 1,161 units nearing completion and an eight-acre development located at the site of the Former Bears Stadium in Newark, NJ, that includes plans to develop 4,200 residential units. “This transaction reflects Madison Realty Capital’s ability to provide a complex, hybrid financing solution to a high-quality borrower across price points and all stages of the project lifecycle, from land acquisition, ground up development and leasing,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “We are thrilled to expand our relationship with Jack Klugmann of Accurate Builders & Developers and to work with the Town of Newark on this exciting, once-in-a-generation project that benefits the economic revitalization of downtown and will bring much needed high quality housing options to Newark’s hard-working residents. Bayonne, Raritan and Linden are attractive, transit-oriented locations with growing demand for high-quality rental housing options.” Details of the portfolio of three multifamily projects near completion, are as follows: · The four-story Raritan multifamily building offers 276 studio, one- and two-bedroom units, 20 of which are affordable units, and luxury amenities, such as fitness centers, courtyards, BBQ and a parking garage. Leasing for this property is already underway. · In Linden, the four-story rental property will offer 234 studio, one- and two-bedroom units with access to top-tier amenities including courtyards, pool, fitness centers, roof deck and children’s playroom. Leasing for this property is expected to begin over the summer. · The Bayonne property consists of two, five-story multifamily properties with a mix of 651 studio, one-, and two-bedroom units and will offer top-tier amenities including a roof deck, concierge, pet center, spa facility, rooftop pool, fitness center and outdoor terraces. Leasing is for the buildings is expected to occur at the end of 2021 and the first quarter of 2022, respectively. The eight-acre Newark project site includes plans to develop 4,200 residential units as part of a master-planned community to be built in nine phases that enables the borrower to develop the assets over time and monetize the assets individually in partnership with the City of Newark. The ground up development project will include 200 affordable units, up to 3,000 parking spaces; at least 100,000 square feet of hospitality/destination retail, co-working space for small business, entrepreneurs, and freelancers; and publicly accessible green space. Shaya Ackerman of Meridian Capital Group arranged the acquisition financing for this transaction. About Madison Realty Capital Madison Realty Capital is a New York City based real estate private equity firm focused on debt and equity investment strategies with regional offices in key markets including Los Angeles and Dallas. Founded in 2004, MRC has closed on approximately $14 billion of transactions in the multifamily, retail, office, industrial and hotel sectors nationwide. The firm manages investments in the United States on behalf of a global investor base. MRC is a fully integrated firm with over 60 employees across all real estate investment, development, and property management disciplines. Among other industry recognitions, MRC has been named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as one of the industry’s top construction lenders. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com. Nathaniel Garnick/Grace Cartwright Gasthalter & Co. (212) 257-4170 [email protected] Source: Madison Realty Capital --BERNAMA · First quarter 2021 reported and adjusted EPS* were $(3.66) and $1.85, respectively, compared to first quarter 2020 reported and adjusted EPS of $1.11 and $1.59, respectively. Double-digit adjusted EPS growth reflects specialties ingredients momentum and strong execution across the Company’s regions.
· Related to the Arcor joint venture announcement, reported results reflect a $360 million held for sale impairment charge, including $311 million of cumulative translation losses. · The Company expects second quarter 2021 net sales and operating income to be up significantly due to volume recovery and specialties growth when compared to the second quarter of 2020. WESTCHESTER, Ill., May 5 (Bernama-GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported results for the first quarter of 2021. The results, reported in accordance with U.S. generally accepted accounting principles (“GAAP”) for 2021 and 2020, include items that are excluded from the non-GAAP financial measures that the Company presents. “We delivered an outstanding first quarter with significant net sales and adjusted operating income growth, our best quarter since 2018. Operating income grew across all four regions, and our results reflect exceptionally strong performance in South America and Asia-Pacific,” said Jim Zallie, Ingredion’s president and chief executive officer. “We continued to execute on our Driving Growth Roadmap, delivering specialty ingredients growth that was underpinned by double-digit growth in Asia-Pacific and South America. As a result of our unwavering determination to expand our consumer preferred specialty offerings, our sugar reduction sales were up over 200 percent versus prior year. Additionally, we recently broadened our Food Systems platform with the acquisition of KaTech, an innovative supplier of customized ingredient blends which enhance texture and provide stabilization. KaTech adds a European hub to complement our existing U.S. and Asia food systems’ operations,” continued Zallie. “We are actively engaged in new product development through our strong customer partnerships with robust project pipelines to meet resurging consumer demand. We remain focused on delivering consumer preferred innovation through customer co-creation. As we re-imagine the future of work for our employees, we are doing so with customer centricity, speed and agility,” Zallie concluded. *Adjusted diluted earnings per share (“adjusted EPS”), adjusted operating income, adjusted effective income tax rate and adjusted diluted weighted average common shares outstanding are non-GAAP financial measures. See section II of the Supplemental Financial Information entitled “Non-GAAP Information” following the Condensed Consolidated Financial Statements included in this press release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures. mrem.bernama.com/viewsm.php?idm=39989 Bolstered by strategic investment from Smiths Medical, commercial partnership will offer best-in-class infusion systems designed to improve patient safety, advance clinical efficiency
MINNEAPOLIS & BOSTON, May 5 (Bernama-BUSINESS WIRE) -- Smiths Medical, a global medical device leader, today announced it has formed an exclusive partnership with Ivenix, Inc. that positions the companies as the first in the U.S. to offer a comprehensive suite of infusion management solutions to meet healthcare needs across the continuum of care. The long-term partnership, which includes a strategic investment from Smiths Medical, unites two innovators under a common goal of revolutionizing infusion management to improve patient safety and meet the needs of healthcare providers today and into the future. Ivenix, a medical technology company dedicated to eliminating infusion-related patient harm, developed the first and only large-volume infusion pump from the ground up to meet the latest U.S. Food and Drug Administration infusion pump guidelines addressing recurring safety issues with pumps. Ensuring patient safety and clinical efficiency are critical components of successful life-saving infusion management. Today, infusion-related errors account for more than 50% of the 1.5 million adverse drug events reported annually to the FDA,1 and infusion-related adverse drug events cost the healthcare system more than $2 billion annually.2 Smiths Medical’s complementary portfolio of market-leading infusion systems CADD®-Solis and Medfusion® include syringe and ambulatory pumps that serve adult and neonatal critical care, operating rooms, and pain management in both the hospital and home. By adding the Ivenix Infusion System to its U.S. product portfolio, Smiths Medical will accelerate its offering into the large-volume infusion device segment, which is estimated to be over $2 billion. “As a researcher focused on large volume IV smart pumps, I am well aware of the many safety and usability issues that exist with current products,” said Karen K. Giuliano, Ph.D., RN, FAAN, MBA, an Associate Professor and Co-director of the Nursing-Engineering Center for Innovation at the University of Massachusetts Amherst. “Innovation in IV smart pumps is long overdue, and I am happy to see new options for acute care clinicians to consider for the delivery of life-saving fluids and medications in this very important area of patient safety.” “The long-term partnership between Smiths Medical and Ivenix will ensure that we are bringing the next generation of infusion management solutions to hospitals across the U.S. and fulfills our commitment to helping connect patients to life-saving therapies and insights to providers,” said JehanZeb Noor, Smiths Medical CEO. “Our investment in Ivenix will help spur the research and development needed to continue building on this critical resource and provide holistic solutions for hospitals and health systems.” The Ivenix Infusion System includes a large-volume infusion pump with administration sets, infusion management tools and analytics to inform care and advance efficiency. The system received 510(k) clearance in 2019 and sets a new standard in infusion delivery by rethinking safety, simplicity, and interoperability. The system is centered around both the patient and clinician and designed to reduce infusion-related errors and drive down the total cost of ownership. “This partnership allows us to accelerate the commercial reach of our infusion platform, and together provide a portfolio of leading-edge infusion solutions to deliver the highest standard of safe and integrated infusion care,” said Ivenix CEO Jorgen B. Hansen. Smiths Medical will launch the Ivenix infusion System as part of its infusion portfolio in the summer of 2021. About Smiths Medical A leading innovator of specialized medical technologies for global markets, focusing on the medication delivery, vital care, and safety devices market segments. For more information, visit www.smiths-medical.com. About Ivenix Ivenix, Inc. is a medical technology company with a vision to eliminate infusion-related patient harm. The company was founded to develop innovative solutions that transform infusion delivery. Ivenix designed an infusion system from the ground up to streamline medication delivery and bring infusion technology into the digital age. The Ivenix Infusion System includes a large-volume infusion pump supported by a robust infusion management system designed to set new standards in simplicity, intelligence, and reliability. For more information, visit ivenix.com. The Ivenix Infusion System is cleared by the FDA. References: 1. FDA report, data on file 2. ODPHP. Health Care Quality and Patient Safety: Adverse Drug Events. 2017 View source version on businesswire.com: https://www.businesswire.com/news/home/20210504005275/en/ Contact For Smiths Medical: Bob Josephson [email protected] 203-914-2372 For Ivenix: Caroline Curran [email protected] 910-409-4126 Source : Smiths Medical --BERNAMA |
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