Latest News

Hanwha to Acquire Philly Shipyard

Published

2 weeks ago

June 21, 2024

Hanwha brings cutting-edge marine technology and shipbuilding expertise to Philadelphia

PHILADELPHIA, June 21, 2024 /PRNewswire/ — Hanwha Systems, a global leader in defense electronics and IT technologies, and Hanwha Ocean, one of the world’s leading shipbuilders, today announced the acquisition of Philly Shipyard, a leading U.S. shipbuilder that has delivered approximately half of the large U.S. Jones Act commercial ships in the United States since 2000. Hanwha Systems and Hanwha Ocean will together invest $100 million to acquire Philly Shipyard, in furtherance of their strategies to expand their global defense and shipbuilding activities.

Philly Shipyard is a public company controlled by Aker ASA, a Norwegian industrial investment company with ownership interests in energy, green technologies and marine biotechnology. Philly Shipyard produces vessels that are compliant with the Jones Act, a federal requirement that vessels used in domestic trade be built in U.S. shipyards. Established in 1997, Philly Shipyard supplies around 50% of the largest commercial vessels, including tankers and container ships. In addition, Philly Shipyard constructs training vessels for the U.S. Maritime Administration (MARAD).

“The opportunity to collaborate with Philly Shipyard, a significant shipbuilder with a storied history, is an exciting strategic opportunity that will allow Hanwha Systems to deploy its state-of-the-art naval systems and associated technologies in the U.S. market,” said CEO of Hanwha Systems, Charlie SC EOH.

Hyek-woong KWON, CEO of Hanwha Ocean, added “We look forward to leveraging our shipbuilding and manufacturing know-how in continuing the success of Philly Shipyard as it meets the expanding needs of the U.S. for decades to come.”

Hanwha Systems is one of the leading defense companies in Korea, developing technologies for unmanned maritime systems, naval radars and sensors for MUM-T (Manned and Unmanned Teaming) operation. With its cutting-edge marine technology, Hanwha Systems is eager to produce vessels in the commercial market and take advantage of opportunities in the unmanned underwater vehicles (UUVs), Smart Ship and unmanned surface vehicles (USV) markets. Hanwha Ocean, a world-class shipbuilder pioneering the global marine defense market, has a full suite of low-carbon, high-tech vessels ranging from ammonia and LNG carriers, to destroyers, submarines and frigates.

Hanwha Systems and Hanwha Ocean see this acquisition as part of a long-term investment strategy to bring best practices and leading technologies to complement existing Philly Shipyard capabilities.

“After two decades of stewardship, it is with great honour that we transition the ownership from Aker to Hanwha. Recognized as a global leader, Hanwha brings a wealth of sophisticated shipbuilding experience that will enable Philly Shipyard to realize a grander vision for its employees and customers. Reflecting on the past 17 years, I am personally grateful for the opportunity to have worked side by side the people of Philly Shipyard and eagerly anticipate witnessing the shipyard’s continued growth and success in the future,” said Kristian Røkke, Chairman of Philly Shipyard ASA.

About Hanwha Systems

Hanwha Systems is the representative company of the Republic of Korea ranging with world-class companies in various business areas based on avionics and space, security and safety, and information systems service. Hanwha Systems has Defense Division and ICT Division with customer value being the top priority.

About Hanwha Ocean

Hanwha Ocean is a globally renowned maritime and shipbuilding company with 50+ years of shipbuilding experience, including a wide range of naval ships that include submarines, warships other naval support vessels, as well as commercial vessels, such as LNG Carriers and Very Large Crude Oil Carriers. Hanwha Ocean’s Okpo shipyard is the second largest and one of the most efficient shipyards in the world.

Media Contacts
Debra DeShong, VP/Head of Corporate Communications
[email protected]

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Invitation to presentation of EQT AB’s Half-year Report 2024

Published

31 mins ago

July 4, 2024

CISION (PR Newswire)

STOCKHOLM, Sweden, July 4, 2024 /PRNewswire/ — EQT AB’s Half-year Report 2024 will be published on Thursday 18 July 2024 at approximately 07:00 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Half-year Report.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

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View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-half-year-report-2024-302189423.html

Latest News

Red Ribbon Communications drive FICA compliance awareness for fintech company DocFox

Published

2 hours ago

July 4, 2024

Peter Tolan

In a strategic move to enhance awareness and understanding of FICA compliance, leading South African PR agency Red Ribbon Communications has partnered with DocFox, a pioneer in B2B tech solutions. This collaboration highlights the critical importance of accountability in the financial sector.

South Africa’s placement on the Financial Action Task Force’s (FATF) grey list in February 2024 posed significant challenges. Recognizing the urgency, DocFox enlisted Red Ribbon Communications to leverage their B2B tech PR expertise in content creation, strategic communication, and generating mainstream publicity.

Hawken McEwan, Director of Risk and Compliance at DocFox, expressed enthusiasm about the partnership. “At DocFox, we are dedicated to empowering Accountable Institutions with the knowledge and tools to achieve FICA compliance. Partnering with Red Ribbon Communications has amplified our message and broadened our reach, showcasing their effective FinTech PR skills.”

Reflecting on the collaboration’s success, Ronelle Bester, Account Director at Red Ribbon Communications, said: “Our partnership has not only heightened awareness about FICA compliance but also positioned Hawken as a thought leader in Anti-Money Laundering (AML) and financial crime. Through strategic media outreach and educational initiatives, we have equipped Accountable Institutions with the knowledge needed to combat financial crimes.”

The collaboration with DocFox has significantly enhanced Red Ribbon Communications’ capabilities in providing PR services to FinTech companies. “Working closely with DocFox has expanded our knowledge in the fintech field and improved our effectiveness in offering tailored PR solutions,” Bester noted. “This partnership has been crucial in enhancing our proficiency in the fintech industry and catalyzing positive transformations within the tech PR sector.”

McEwan expressed his satisfaction with the partnership’s outcomes, stating: “I am impressed with the results of our collaboration with Red Ribbon Communications. Together, we have successfully raised awareness of FICA compliance and positioned DocFox as a leading voice in the fight against financial crime in South Africa. This partnership solidifies our commitment to help South Africa be removed from the FATF’s greylist.”

The alliance between Red Ribbon Communications and DocFox has generated widespread media coverage, featuring in prominent publications like Business Day, The Citizen, and IOL. The collaboration also secured six TV and radio interviews, including appearances on eNCA, Cape Talk, Moneyweb, and Power FM, reaching an editorial audience of over 27 million.

As South Africa navigates the path towards regulatory compliance, the strategic collaboration between Red Ribbon Communications and DocFox stands as a testament to the power of effective communication within the fintech sector. “By leveraging our expertise and their dedication, both entities have not only raised awareness but also paved the way for innovative approaches in the tech PR landscape, setting a new standard for industry collaboration and positive impact,” Bester concluded.

Source: bizcommunity.com

The post Red Ribbon Communications drive FICA compliance awareness for fintech company DocFox appeared first on HIPTHER Alerts.

Latest News

Industry Leaders Harp On Growth At FITC Fintech Conference

Published

4 hours ago

July 4, 2024

Peter Tolan

FITC recently concluded its highly anticipated TechnNovation FINTECH Conference, themed “Building Trust in the Digital Age: Balancing Performance with Compliance.” This event brought together key stakeholders from the financial sector, including banks, fintech innovators, investors, and regulators, to discuss industry trends, product innovation, regulatory updates, and collaboration opportunities.

Keynote Highlights

Chizor Malize, MD/CEO of FITC and conference convener, emphasized fintech’s transformative impact on the global financial services industry. She highlighted success stories from companies like Interswitch, Flutterwave, and M-Pesa, showcasing Africa’s potential to drive financial inclusion and economic growth through digital innovation. Malize also stressed the importance of maintaining trust and compliance in the digital era, noting FITC’s commitment to providing innovative knowledge solutions and capacity-building programs for the financial sector.

Philip Ikeazor, Deputy Governor of Financial Systems Stability at the Central Bank of Nigeria (CBN) and Board Chairman of FITC, delivered the keynote address. Represented by Taiwo Oladimeji, Deputy Director of the Payments System Management Department at CBN, Ikeazor highlighted the significant growth of Nigeria’s fintech sector. Over the past decade, fintech innovations like mobile payments and blockchain technology have transformed financial transactions in Nigeria, making it a hub for financial inclusion and attracting substantial investments. The CBN has been instrumental in fostering this growth through policies that promote innovation while ensuring financial stability and integrity.

Key Messages

Ikeazor underscored the necessity of continuous dialogue, knowledge sharing, and capacity building to balance performance with compliance. He mentioned the CBN’s e-learning platform, SabiMONI, which aims to enhance financial literacy and deepen financial inclusion by equipping citizens with essential knowledge and tools. This initiative supports the creation of a financially inclusive society and fosters greater trust in the financial system.

In his conclusion, Ikeazor highlighted the CBN’s dedication to developing regulatory frameworks addressing challenges posed by emerging technologies such as AI, blockchain, and digital currencies. The Payments System Vision (PSV) 2025 focuses on driving digital innovations and payments, emphasizing contactless payments, big data, and open banking.

Insights from Industry Leaders

In her opening address, Adedoyin Odunfa, MD/CEO of Digital Jewels Limited and Chair of the Conference Advisory Board, highlighted the crucial role of fintech in Nigeria’s economic development and financial inclusion. She advocated for a customer-centric approach and diverse teams, emphasizing the importance of balancing innovation with compliance. Odunfa identified key success factors, including committed individuals, robust processes, scalable solutions, and effective collaboration.

Source: leadership.ng

The post Industry Leaders Harp On Growth At FITC Fintech Conference appeared first on HIPTHER Alerts.