Fintech PR
Labuan Financial Services Authority issues more than 50% increase in licensing application approvals in the 1st Half 2020, remains cautiously optimistic for the remaining 2020
Labuan International Business and Financial Centre (Labuan IBFC) continues to attract financial services firms from across the globe in 2020 with more than 50% increase in licensing application approvals for the first half of 2020, making a total of more than 800 licensed entities currently operating in Labuan IBFC.
“Notwithstanding the challenges and movement restrictions due to the COVID-19 outbreak, we are glad to continue to have growth, an increase in licenses approved during the first half of 2020,” said Datuk Danial Mah Abdullah, Director-General of Labuan FSA in his welcome speech at the third Asian Captive Conference (ACC) today.
“Having said that, we remain cautious on the outcome in the second half of the year but am optimistic that we will pull through this ‘COVID-19 rollercoaster year‘ on a positive note,” he went on to say.
He added “We in Labuan FSA are cognisant of the COVID-19 situation. Other than the safety precautionary measures, we have provided Regulatory Reliefs aimed at alleviating the operational difficulties of the market. We will continue to support the market players during this difficult and challenging time as we navigate the “new normal” together. We are always engaging with our players on this.”
Mah said that Labuan IBFC as a midshore jurisdiction takes the approach of proportionality in regulation and market engagement, noting this philosophy is appropriate during these times of change and uncertainty, and will serve the jurisdiction well moving forward.
Labuan IBFC is a “whitelisted” jurisdiction by the European Union and deemed largely compliant by the Organisation for Economic Co-operation and Development. With this, coupled with Labuan FSA’s continued commitment to adhere to the highest regulatory and supervisory standards, Mah is confident that the global financial services industry will continue to regard Labuan IBFC positively even during these unprecedented times.
Meanwhile, Labuan IBFC Inc. CEO, Farah Jaafar-Crossby said, “The growth in licensed entities definitely evidences Labuan IBFC’s relevance as intermediaries continue to look for safe harbour jurisdictions, that are well regulated to international standards set by global multilateral organisations.”
Specifically in reinsurance, Labuan IBFC continued to see growth in the insurance industry with 11 new licensed being approved of which seven were captive insurance entities, reinforcing its jurisdictional reign in the Asia captive market.
“Captive insurance is certainly growing in size as it now attributes 31.4% of total gross premiums underwritten in Labuan IBFC, amounting to USD267.9mil with 72.8% of the total captive premiums from international markets,” Mah said.
He added: “This is in line with the status of Labuan IBFC as a regional wholesale risk intermediating centre. In fact, for the first half of 2020, 64.5% of total gross written premiums of the reinsurance industry originated from international markets.”
“We expect this percentage to increase as we develop Labuan even further as a centre of risk management and reinsurance through innovation. For instance, Labuan IBFC is the only jurisdiction in Asia that offers protected cell companies (PCC),” Mah noted.
He also added that it is a natural progression that as the Labuan community of financial institutions continue to grow, more intra Labuan IBFC trade is effected.
“This is a natural progression of a jurisdiction with more than 800 licensees, with the insurance market representing nearly 30% or 220. As we mature as a financial centre, cross-pollination of businesses is part of a natural development cycle that reinforces a vibrant intra-Labuan business ecosystem for all institutions to partake in,” Mah said.
The ACC 2020 is a special virtual edition due to the pandemic and is a collaboration by Labuan IBFC and Pan-Asia Risk & Insurance Management Association (PARIMA). This year, the ACC is hosted as part of the PARIMA Resilience Week of events.
Themed “Agility in the COVID Climate”, the ACC 2020 was aimed to highlight the challenges and the agility required for governments, corporations and the community to respond during this pandemic.
The conference also discussed finding suitable risk management approaches and appropriate reinsurance protection where self-insurance may be misconstrued as a panacea during these unprecedented times, and was attended virtually by risk management professionals, business owners, corporate leader, and advisers.
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 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 Q1 Announcement.
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
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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