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DiMuto and OPAL Announce Agrifood Fintech Partnership to Tackle Trillion Dollar Global Trade Finance Gap

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SINGAPORE, Apr 30, 2021 – (ACN Newswire) – DiMuto, a global agri-fintech trade solutions company that provides end-to-end supply chain visibility for global agrifood trade, has partnered with OPAL, a Major Payment Institution (MPI) licensed by Monetary Authority of Singapore (MAS), to provide payment services on the blockchain-powered DiMuto Platform.

Lim Ming Wang, Co-Founder and COO of OPAL, with Gary Loh, Founder and CEO of DiMuto at the MoU Signing Ceremony

The two companies are collaborating to bring together the strengths of both companies to innovate and transform the future of payments and financing in the agrifood trade space. Working together provides an exciting opportunity to leverage OPAL’s expertise in international payment, multi-currency wallets, FX management and financing solutions alongside DiMuto’s strong network of agrifood clientele, robust trade digitalization technology and capability to collect asset-based data.

DiMuto and OPAL will develop a new first-of-its-kind payment module that will allow DiMuto’s agrifood customers to make payments directly tagged to the movement of goods on the DiMuto Platform, creating visibility of both the movement of goods and money for physical agrifood products tracked with DiMuto’s existing trade digitalization technology.

The DiMuto Payment module taps on OPAL’s expertise in servicing SMEs with payment and financing solutions. OPAL aims to be One Account for Payments and Loans (OPAL) for SMEs, by simplifying payment processes, lowering fees and providing easier access to financing. OPAL is able to facilitate safe and secure cross-border transactions in over 100 financial corridors with multi-currency accounts and competitive FX rates that are cheaper than conventional banking methods. With the new DiMuto Payment module, DiMuto’s agrifood customers will be able to conduct transactions that are in full compliance with Singapore regulations and international AML/CFT standards.

“We are excited to bring our experience in the financial, payments and technology industry to the collaboration with DiMuto. The partnership gives OPAL an opportunity to reach more small and medium businesses globally, particularly in the agrifood and perishables trade, that have not been serviced by traditional banking institutions. We look forward to helping them accelerate their growth with complex payments made easy,” said Lim Ming Wang, Co-founder and Chief Operating Officer of OPAL.

The digital payments collaboration establishes the first step to DiMuto’s trade financing solution for the unbanked SMEs in the agri-perishables sector that have traditionally been unable to access financing from conventional banking institutions. Despite being the largest contributors to employment and economic development, SMEs have struggled to obtain formal financing, due to factors including creditworthiness, collateral requirements, short-term liquidity, and political or currency risks. Asian Development Bank (ADB) found that over 40% of trade finance applications by SMEs are rejected and the global trade finance gap is a staggering US$1.5 trillion in 2019 and is projected by the International Chamber of Commerce (ICC) to increase to US$3.4 trillion due to Covid-19. The exponential trade finance gap impedes the effort to reduce poverty and minimize inequality, two of the United Nation’s Sustainable Development Goals (SDG).

By capturing and developing primary trade data through trade digitalization, DiMuto effectively reduces the risks associated with trade financing. With both visibility of movement of physical goods and movement of money on the DiMuto Platform, DiMuto can now further develop data-driven agrifood asset financing.

“At DiMuto, our vision is to power global agrifood trade with visibility. We have built a powerful platform that combines IoT, cloud, blockchain, and AI technology in our journey to bring visibility to global trade,” said Gary Loh, Founder and Chief Executive Officer of DiMuto. “By partnering OPAL to enable direct payments on our platform, we are moving closer to this goal as this creates a complete solution tying the movement of goods to the movement of money. With this, we can transform global trade by tackling the financing needs of the unbanked agrifood market.”

The partnership between DiMuto and OPAL will enable trade that traditional trade finance cannot effectively support. DiMuto is implementing AI, machine learning capabilities and new predictive analytic algorithms for valuable insights into the trade health and credit score of agrifood companies to develop alternative financing and insurance services for the global agrifood market.

About OPAL

OPAL is a leading provider of end-to-end, regulated payment solutions based on a robust, proven platform and proprietary technology. Founded by a team of seasoned professionals with significant experience in financial solutions, banking, regulatory issues, cross-border payments and money management, OPAL offers a broad set of financial solutions to help clients meet their diverse needs in today’s ever-changing financial and business environment. OPAL is licensed as a Major Payment Institution (MPI) by the Monetary Authority of Singapore. For more information, please visit www.opalpayment.com.

About DiMuto

DiMuto provides agrifood companies with data they can see and trust, down to every single product of every trade, where they can easily see all that is happening for every trade transaction in an organized manner, on one single platform.

DiMuto simplifies every step of global trade – from produce, trade to market. DiMuto provides sales, marketing, operations, financing and insurance tools so businesses can trade better. Equipped with a data-backed growth roadmap, companies can now navigate the complex global trade landscape with ease and focus on what matters – growing a thriving international business. With Visible Trade, DiMuto powers companies and the world forward with confidence.

Since 2019, DiMuto has successfully tracked and traced over millions of pieces in produce and millions in dollars of trade value on our platform, working with a global portfolio of clients in over ten countries and five continents. DiMuto is founded by Chief Executive Officer Mr Gary Loh, who is also the Executive Chairman of First Alverstone Group. For more information, please visit www.dimuto.io.


Topic: Press release summary

Source: DiMuto / OPAL

Sectors: Agritech, Food & Beverage

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ACN Newswire

CITIC Telecom CPC wins Accolade in AI Challenge Competition

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HONG KONG, May 13, 2021 – (ACN Newswire) – CITIC Telecom International CPC Limited (“CITIC Telecom CPC”), a wholly owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883) today announced the winning of Overall 1st Runner-up at the latest “AI Challenge Computer Vision – Identifying Surgical Instrument” (AI Challenge) competition. The award is a recognition of the company’s AI expertise, and reaffirm its long-term commitment to place innovation at the center of its strategy – Innovation Never Stops.

“The award is a testament to CITIC Telecom CPC’s team and our passion for exploring ideas and creating unique solutions for enterprises,” said Esmond Li, CEO of CITIC Telecom CPC.

Innovation and Intelligence – Transform the Future

To realize our motto “Innovation Never Stops”, CITIC Telecom CPC has recently embarked on an innovative and intelligence transformation journey to cater for the changing needs of the future. At the heart of this transformation is the Intelligence and Communications Transformation MiiND (ICT-MiiND) Strategy. This strategy is guiding the company to transform from being a successful ICT solution provider into an intelligent technology-driven digitalization enabler. ICT-MiiND is also the powerhouse of the recent award-winning AI capabilities.

Integrating the latest technologies with innovative ideas, ICT-MiiND is the brain that leads enterprises to successful digital transformation. Building intelligence through advanced container technology; together with network, information security, and cloud computing solutions experience; fused years of practical experiences in digital transformation and resources from global technical partners, ICT-MiiND has developed the company’s latest AIOps (Artificial Intelligence for IT Operations) platform, in which integrated with latest technologies like big data, artificial intelligence (AI), augmented reality (AR), internet of things (IoTs) and blockchain. Unlike other AIOps, ICT-MiiND provides different innovative and intelligent modules that integrated tailor-made and customized industry service scenarios to bring enterprises a smarter IT service management platform.

ICT-MiiND – Embracing Intelligent Innovation

Empowered by innovation and intelligence with smart learning and infrastructure, ICT-MiiND integrates full stack of services data to the ICT service platform. It performs periodic cycle of data collection, experience learning and correlation, as well as algorithmic analysis and modeling. This builds a foundation for developing a perception for dynamic business scenarios through understanding time, scenarios and industry applications. Through integrating this cognitive capability with the company’s practical experiences and collective knowledge, ICT-MiiND can perform deep and self-learning to develop a self-evolving power that drives dynamic and continuous advancement.

Simply put, through cognitive thinking, digital tools and algorithms to correlate different business scenarios, ICT-MiiND develops automated, multi-dimensional analysis and assessment. ICT-MiiND can also continuously enhance its computational intelligence with machine learning and deep learning, in order to offer relevant responses that solve different business challenges and IT incidents with proactive solutions.

— Strong AI capabilities: Riding on different innovative tools and algorithms, ICT-MiiND is developed to provide analysis in multiple layers to study existing data, review its integrity and detect missing data. Its machine learning capabilities can also identify regular IT operation patterns, align that with changing business priorities to detect different levels of business impact from any IT anomalies.

— Simplicity and Precision: Deliver precise and comprehensive IT operation analysis through capturing massive volume of data from different incidents to develop AI and algorithmic modules and drive intelligent operation and maintenance capabilities. Analysis in dynamic perspectives – including factors like timing, correlations, cause and effect – enables inductive analysis to identify patterns and predictive analysis to forecast progression. A combination of these capabilities enable ICT-MiiND to actively detect anomalies and analyze root cause. It also provides a comprehensive macro view of the entire operations by reducing multiple and duplicating alerts.

— Active and comprehensive monitoring: Aiming to turn passive monitoring into proactive enhancement, ICT-MiiND combines macro monitoring of the entire operations together with intelligent analysis that deepens IT resource planning. This combination can transform ICT services provisioning from simply meeting SLAs to proactively identifying areas to improve IT performance and user experiences.

— Integrate business scenarios and human knowledge: Leverage the experience of managing different networks and IT challenges, as well as the understanding of individual customer’s business processes, application architecture, infrastructure and security policies to develop business-driven AIOps algorithm. It demonstrates CITIC Telecom CPC’s differentiating AI capabilities to develop AIOps tools that are unique from others in the market.

Innovation is part of our DNA

ICT-MiiND is an intelligent-driven strategy for the future. It rides on CITIC Telecom CPC’s practical IT operations experiences, in-depth business knowledge and expertise in network, security and cloud into building different AIOps modules to provide exceptional IT services through intelligence.

Embracing years of practical experiences, deep industry knowhow with intelligent analysis and algorithmic capability, CITIC Telecom CPC is also deepening its innovation with the latest technologies like AR, IOTs and Blockchain, to form intelligent IT service management platform and applications, a true proactive digital business enabler.

Series of innovative offerings under the ICT-MiiND Strategy:

— AR-driven service platform: Leverage wearable AR technology, the company offers remote operation and maintenance service – DataHOUSE(TM) AR Remote Hand. It transforms field engineers’ operations, maintenance and troubleshooting processes, driving a future-ready field service era.

— Blockchain-enabled business workflow tracking system manages application development and APIs to enable service governance. Some applications, including electronic leave application and electronic overseas travel application systems, are already supported by blockchain, while Sales management and CRM systems will be next.

— Integrates facial recognition technology into thermal detection system, CITIC Telecom CPC creates groundbreaking AI thermal detection systems to monitor temperature and identify individual employees or visitors to enable higher level of public health and safety.

— AI + SD-WAN is a network service that integrates AI, big data analytics and SD-WAN technologies. It achieves the integration between algorithmic analysis, WAN operations and linkages as well as application processing and business services delivery. Through intelligent analysis and smart machine learning of data across the network, it creates scenario planning through algorithmic and correlation analysis to design and develop dynamic routing to optimize network performance. It empowers enterprise customers to handle surging network traffic with an optimized network architecture.

“Supported by our global experiences, years of business knowhow and dedicated R&D capabilities for different industries, ICT-MiiND Strategy is not only a platform for intelligent IT service management, but the brain to empower digital success,” said Daniel Kwong, Chief Information and Innovation Officer from CITIC Telecom CPC.

To know more about ICT-MiiND Strategy, please visit: https://www.citictel-cpc.com/EN/HK/Pages/ICT-MiiND

Demonstrating Precision in Computer Vision

Organized by Hong Kong Science and Technology Park and Hospital Authority, the AI Challenge is a competition that challenged contestants to build machine learning models to identify surgical instrument. The competition aims to explore the role of AI to assist human in performing surgical instrument counting at the hospital operating theatre – a task that takes place over hundred thousand times per year!

“Our dedicated Data Science and Innovation team has been building machine learning models since 2019 to digitize our internal operations. Through this competition, we’d like to benchmark our AI capabilities against others into solving other practical business problems,” said Kwong.

“The award recognizes our expertise in AI to facilitate business operations, as well as our ability to extend these skills into different industries to provide enhanced services for our enterprise customers,” added Kwong.

ICT-MiiND Roadmap

The introduction of ICT-MiiND marks only the first step of a three-stage development plan. In the second stage, ICT-MiiND is expected to integrate the newly acquired insight with advanced algorithm to offer predictive insights and response recommendations. Moving forward, ICT-MiiND is also expected to realize human-machine interactions and proactively support customers by providing recommendations and analysis using natural language processing (NLP) technologies and knowledge graph.

“ICT-MiiND demonstrates our commitment to deepen technology expertise towards endless innovation for our customers. It is the core for our transformation from an ICT solution provider into a technology-driven digitalization enabler,” said Kwong.

About CITIC Telecom CPC

We are CITIC Telecom International CPC Limited (“CITIC Telecom CPC”), a wholly owned subsidiary of CITIC Telecom International Holdings Limited (SEHK: 1883), serving multinational enterprises the world over by addressing their ICT requirements with integrated digitalisation solutions built upon our flagship technology suites, comprising TrueCONNECT(TM) private network solutions, TrustCSI(TM) information security solutions, DataHOUSE(TM) cloud data center solutions, and SmartCLOUD(TM) cloud computing solutions.

With the motto “Innovation Never Stops”, we leverage innovative technologies, embracing AI, AR, Big Data, IoT, and other cutting-edge emerging technologies to transform technical potential into business value for our customers. As enterprises digital transformation partner, we strive to help our customers achieving industry-leading position, high agility and cost-efficiency through digitalisation.

Bringing with our Global-Local capabilities, we are committed to providing our customers with one-stop-shop ICT solutions with superior quality. Having worldwide footprint across 160 countries, including Asia, Europe and America, Africa, the Middle East, and Central Asia, our global network resources connect over 160 points of presence (POPs), 18 Cloud service centers, 30+ data centers, and two dedicated 24×7 Security Operations Centers (SOCs). As one of the first managed service providers in Hong Kong to achieve multiple ICT-related certifications, including ISO 9001, 14001, 20000, 27001, and 27017, we have been offering professional local services, superior delivery capabilities as well as exceptional customer experience and best practices through our global presence and extensive industry knowhow, becoming a leading integrated intelligent ICT service provider to enterprise customers.

For more information please visit www.citictel-cpc.com

Media Contact:

Rowena Leung
CITIC Telecom International CPC Limited
(852) 2170 7536
Email: [email protected]


Topic: Press release summary

Source: CITIC Telecom CPC

Sectors: Telecoms, Cloud & Enterprise, Artificial Intel [AI]

https://www.acnnewswire.com

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ACN Newswire

Joy Spreader Included in the MSCI China Small Cap Index

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HONG KONG, May 13, 2021 – (ACN Newswire) – On May 12th , Joy Spreader (06988.HK), a Hong Kong-listed company, announced that the Company is incorporated into the MSCI China Small Cap Index, with effect upon the closure of the market on May 27, 2021.

It is reported that the MSCI China Small Cap Index is one of the China market indices launched by Morgan Stanley Capital International (MSCI), which aims to measure the performance of the small cap segment in China’s stock market, covering PRC companies with excellent operating results and development potential. It is an important index for global institutional investors to evaluate their investment portfolios.

Joy Spreader is a leading MarTech company engaging in mobile new media performance-based marketing and marketing SaaS services in the PRC. It has achieved outstanding performance for years and has received considerable attention in the Hong Kong stock market since its listing.

According to the financial report, the revenue of Joy Spreader was HK$262 million, HK$538 million and HK$924 million from 2018 to 2020, respectively, and the earnings (net profit) during the year were HK$45 million, HK$77 million and HK$139 million, respectively. Joy Spreader’s performance has maintained rapid growth.

The Company’s board of directors believes that the inclusion of the MSCI China Small Cap Index shows the recognition of the Company’s performance and value by the capital market. It is expected that the inclusion will enhance the confidence of capital market and investors to the Company and increase the liquidity of the Company’s shares. At the same time, the inclusion will raise the Company’s profile and boost the Company’s business and cooperation.


Topic: Press release summary

Source:

Sectors: Cloud & Enterprise, Broadcast, Film & Sat, Advertising

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ACN Newswire

Shineway (2877.HK) Q1 revenue increased by 37.0%

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HONG KONG, May 13, 2021 – (ACN Newswire) – China Shineway Pharmaceutical Group Limited (2877.HK) recently released its unaudited turnover for the three months ended 31 March 2021 (Q1 2021) based on its management accounts.

Revenue for Q1 2021 went up 37.0% YoY, which implies a growth of 20.4% over the pre-COVID 19 levels, as compared with the same period of 2019. The Group’s main product types all achieved significant growth. Sales of injection products went up by 34.2%; soft capsule products recorded growth of 6.6%; granule products showcased the strongest turnover growth of 62.2%; turnover of TCM formula granule products increased by 50.5%. For products in other forms, turnover grew by 54.2%.

FINET News H.K.
http://www.shineway.com.hk/en/index.aspx


Topic: Press release summary

Source: China Shineway Pharmaceutical Group Limited

Sectors: Daily Finance, Healthcare & Pharm

https://www.acnnewswire.com

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ACN Newswire

Cyber Security Visionaries to Gather at #WCSSAfrica to Define, Describe, and Forecast the Market

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TOKYO, May 13, 2021 – (ACN Newswire) – Taking place on 24 May 2021 in Africa, the 10th global edition of World Cyber Security Summit will focus on topics such as Cyber Security framework and strategies for the African Government Authorities; National security, Cyber Threats and Governance: The Rise of Security Culture in Africa; Zero Trust Networks & Resilient ICT Re-Budgeting for Corporate sectors; Cyber Security trends and crucial security strategies for sectors and enterprises and much more.

The African Prospect

The Africa cyber security market size is anticipated to witness strong growth over the coming years on account of rapid growth in internet users combined with growing dependability on e-governance, IoT, commercial services and social networking.

This is also bolstered by an increasing number of cyber crime within the country that have, unfortunately, been seeing a surge in pushing governments to support sectors such as telecom, retail, finance and health to help amplify the demand for enterprise cyber security products, services and consumer software in the country.

“Cyber security landscape is rapidly changing & evolving in Africa” stated Naresh Kumar, Director – Regional Sales Development at emt Distribution META. He further added “Find, Fix, & Protect – Take Control Of Your Network and It’s our ongoing efforts to educate, position and protect our partners IT ecosystem with Progress and emt Cyber security and ICT solutions.”

What next for the continent?

Enterprises and governments are leading an increased effort to strengthen the internet infrastructure and improve the solutions and aid provided by the software industry in a bid to protect its citizens from cyber attacks in the future.

Apart from this, factors such as the need for unified cyber solutions, increased internet subscriptions, data disclosure mandates, enhanced enterprise mobility, and increased spending patterns on security forums are boosting the demand for cyber security solutions in the nation.

“Cyber security leaders play an important role in today’s business. They have to put out a strong message of influence as security is a culture and business should become a part of this security culture,” stated Mithun Shetty, CEO, Trescon.

World Cyber Security Summit – Africa will feature a ground-breaking collaboration of experts such as Dr Ahmedin Mohammed, State Minister, Federal Democratic Republic of Ethiopia Ministry of Innovation and Technology; Peter Hunguru, Head of Information Communication and Technology, Zimbabwe National Road Administration (ZINARA); Themba Mnguni, Deputy Director, IT Audit, Department of Rural Development and Land Reform; Collins Osagie Omokaro, Special Assistant to the Honourable Minister for Industry, Trade and Investment, FCT, Abuja; Muyowa Mutemwa, Senior Cyber security Consultant, Council for Scientific and Industrial Research (CSIR), City of Johannesburg, Gauteng, South Africa; and Humphrey Mutuma, Youth Governor & Executive Director, Youths for Youths Network to name a few.
The summit will be hosted on the virtual events platform Vmeets to help participants network and conduct business in an interactive and immersive virtual environment. Participants can also engage with speakers in Q&A sessions and network with solution providers in virtual exhibition booths, private consultation rooms and private networking rooms.

The World Cyber Security Summit – Africa is officially sponsored by Platinum Sponsor – Nanjgel Solutions and Accops; Gold Sponsors – emt Distribution FZ-LLC and Progress Software Corporation; Silver Sponsor – ManageEngine and SHELT.

About World Cyber Security Summit

World Cyber Security Summit is a thought-leadership driven, business-focused initiative that provides a platform for CISOs who are looking to explore new-age threats and the technologies/strategies to mitigate them.

To register visit – World Cyber Security Summit – Africa.

For further details, please contact:
Karthik A, Marketing Lead, Trescon
[email protected]


Topic: Press release summary

Source: World Cyber Security Summit

Sectors: Cloud & Enterprise

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