SEOUL, South Korea, Oct. 11, 2023 /PRNewswire/ — Hyundai Capital Services, a financial services subsidiary of Hyundai Motor Group, today announced that it is acquiring PT Paramitra Multifinance, to establish Hyundai Capital Indonesia.

Signing Ceremony held in Jakarta on October 5, 2023. (from left to right) Jaesub Sung, Head of Global Business Development / Department at Hyundai Capital Services / Daeyoung Han, Head of Business Support Division at Hyundai Capital Services / Indra Widjaja, Chairman of Sinar Mas Multiartha / Jinwon Mok, CEO of Hyundai Capital Services / Hyunghoe Koo, President Director of Bank Shinhan Indonesia / Haechang Lee, Head of Global Division at Shinhan Bank HQ

Hyundai Capital Services has entered into a share purchase agreement to acquire 75.1% stake in PT Parmitra Multifinance. PT Sinar Mas Multiartha Tbk (15%), the finance arm of Sinar Mas Group, and PT Bank Shinhan Indonesia (9.9%), a subsidiary of Shinhan Bank Korea, will each be minority shareholders of the Company.

PT Sinar Mas Multiartha Tbk will provide its local experience and expertise to assist in the strengthening and development of auto financial services business. PT Bank Shinhan Indonesia which was established in 2015, will be in charge of enhancing the competitiveness of local products and provide stable financing operations.

Indonesia is a key hub for the Hyundai Motor Group’s future mobility strategy. In 2022, Hyundai Motor opened its first Southeast Asian production base in Indonesia, and since then, Hyundai Motor has been claiming the biggest market share in Indonesia’s electric vehicle market.  

Since 2020, Hyundai Capital Services has been operating a branch in Jakarta, providing financial consulting and market research services. Indonesia’s financial sector is highly attractive for Hyundai Capital Services given its demographics, strong macroeconomic and fast growing economy. The newly launched entity is a significant milestone for Hyundai Capital Services and demonstrates the company’s confidence in Indonesia and long-term commitment to the market.

"Hyundai Motor has come in at the top of the electric vehicle market in Indonesia," said Hyundai Capital Services spokesperson. "We believe this acquisition will position Hyundai Capital to leverage our capabilities to serve more tailored auto financial services to the needs of local customers and partners."

Hyundai Capital Services is now active in 14 countries in the Americas, China and Europe, operating 16 entities and 2 branches globally. The company plans further expansion with the aim to support Hyundai Motor Group’s global mobility strategy.

Hyundai Capital Services

Hyundai Capital, a leading consumer finance company founded in 1993, has been offering financial services tailored to meet the needs of Hyundai, Kia and Genesis brands globally. Spearheading the globalization of Korea’s finance sector, Hyundai Capital, headquartered in Seoul, South Korea, is now active in 14 countries in the Americas, China and Europe and plans further expansion.

Bank Shinhan Indonesia

Shinhan Bank entered the Indonesian market in 2015 through the acquisition and merger of two local banks, currently operating 37 branches across Indonesia. In particular, it has received recognition for its rapid success in localization, achieving assets of $1.573 million by the end of the first half of the year, marking a remarkable asset growth of nearly 560% compared to the end of 2016 when the acquisition took place.

Source : Hyundai Capital accelerates Indonesian growth with strategic acquisition of PT Paramitra Multifinance

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

SINGAPORE, Oct. 11, 2023 /PRNewswire/ — REPUBLIK, a global technology company building new ways for people to interact, proudly announces the successful conclusion of its $6 Million Seed funding round. The round saw participation from leading investors, including OKX Ventures, 6th Man Ventures, Arcane Ventures, CMS Holdings, Comma3 Ventures, Define Ventures, Enjin, FBG Capital, HTX Ventures, Mirana Ventures, Oracles Investment Group, Signum Capital, Sora Ventures, and UOB Venture Management. 

REPUBLIK Successfully Closes $6 Million Seed Funding Round, Valued at $75 Million

The capital raised is instrumental in building REPUBLIK’s platform and developing cutting-edge, web3 creator tools on the blockchain. Currently in beta across web app, iOS, and Android platforms, REPUBLIK has garnered substantial traction, empowering creators with new ways to interact and get rewarded for their contributions to the platform.

"For too long people have given their time, attention and creativity to existing platforms for almost nothing in return. REPUBLIK is going to change that by ensuring that the value of the community is fairly distributed. We’re excited to have investors who share in our vision and partners that are helping us build a true community-owned platform," expressed Daniel He, REPUBLIK’s CEO.

Unlike traditional social platforms, where monetization options are fragmented and often come with high fees, REPUBLIK uses Web3 technologies to streamline the entire process, drastically reducing costs borne by Creators. This results in Creators keeping a significantly larger share of their earnings, but also enables a token-based reward system that allows everyone to earn for interacting with content, referring friends and supporting Creators.

While legacy platforms capitalize on user attention without direct compensation, REPUBLIK believes that online communities have great value, and that this value should be fairly distributed to the people who helped create it. As such, XP in the app represents how much value a user brings, while RPK will be a freely traded token representing the value of the community. The more XP a user has, the more RPK will be distributed to them.

The REPUBLIK App is available on Google Play Store, Apple App Store and on browsers as a web app at https://app.republik.gg/ 

About REPUBLIK

Singapore headquartered, with additional offices in Berlin and Los Angeles, Republik is on a mission to connect creators to their communities while rewarding everyone based on their interactions. With a rapidly growing community, REPUBLIK redefines the realm of online interaction.

Media Contact:
media@republik.io 

https://republik.gg
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Source : REPUBLIK Successfully Closes $6 Million Seed Funding Round, Valued at $75 Million

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

SHENZHEN, China and NEW YORK, Oct. 11, 2023 /PRNewswire/ — Big Tree Cloud International Group Limited ("Big Tree Cloud" or the "Company"), a company devoted to the development, production and sales of personal care products and other consumer goods in China, and Plutonian Acquisition Corp. ("Plutonian") (Nasdaq: PLTN), a publicly traded special purpose acquisition company, announced today that they have entered into a definitive merger agreement (the "Merger Agreement") that will result in Big Tree Cloud to be operated under a holding entity named Big Tree Cloud Holdings Limited, an exempted company incorporated in Cayman Islands ("PubCo") and  to be traded on the Nasdaq Stock Market (the "Proposed Transaction"). The Proposed Transaction reflects an initial equity value of approximately US$500 million. 

Founded in 2020, Big Tree Cloud has established itself as a dynamic and innovative consumer-oriented company committed to improving the lives of modern, health-conscious, and independent consumers through high-quality personal care products and consumer goods with a focus on a feminine hygiene products. At the core of its mission lies a dedication to the development, production and distribution of personal care items. Big Tree Cloud’s consumer-to-manufacturer model has integrated its online and offline operations for an omni-channel sales model,  and fostered an active community that contributes valuable feedback and product suggestions. This interaction with consumers is instrumental in shaping product development strategies and delivering premium products tailored to their personal care needs.

Big Tree Cloud’s product portfolio places a strong emphasis on feminine hygiene products with its sterilized feminine pads and menstrual pants. The Company recognizes the increasing awareness among health-conscious consumers in China who seek quality, comfort, sanitary, and high-functionality in feminine hygiene products. Big Tree Cloud has positioned itself as a pioneer in meeting these demands through innovative sterilization technology, advanced absorbent core structures, and anti-leakage designs, all of which aimed at enhancing consumer satisfaction. The Company’s comprehensive business strategy spans research and development, production, and marketing and enables it to offer a complete range of high-quality products to consumers.

Management Commentary                

Mr. Wenquan Zhu, the founder and chairman of the board of Big Tree Cloud, stated that "this transaction marks a significant milestone in our journey towards providing better personal and hygienic care for families in China and around the world. We are proud of our achievements since our inception in 2020 and are thrilled about the growth opportunities that lie ahead. The proposed business combination with Plutonian Acquisition Corp. will enable us to accelerate our effort of accomplishing our mission of offering premium personal care products to consumers and expanding our product portfolio beyond feminine care. We are confident that this strategic move will enhance our market presence and further establish Big Tree Cloud as a trusted and innovative brand."

"We are excited to complete this business combination between Plutonian and Big Tree Cloud. The Plutonian team is honored to be part of this landmark occasion," said Wei Kwang Ng, CEO of Plutonian. "The entire exceptional management team at Big Tree Cloud continues to execute on their robust growth plans and strategy, with multiple compelling dynamics in the consumer goods industry, we firmly believe that Big Tree Cloud as a public company has the right model and technology to leverage its experience and platform to create shareholder value."

Transaction Overview

The Proposed Transaction values the combined company upon the closing of the Proposed Transaction ("Combined Company") at an implied pro forma pre-money enterprise value of approximately US$500,000,000, at a price of US$10.00 per share.  Upon closing, the current shareholder of Big Tree Cloud will retain a majority of the outstanding shares of the Combined Business and Big Tree Cloud will designate a majority of the proposed directors for the Combined Company’s board.

Proceeds from the Proposed Transaction are expected to be utilized for working capital and general corporate purposes.

The board of directors of both Big Tree Cloud and Plutonian have unanimously approved the Proposed Transaction, which is expected to be completed in the first half of 2024, subject to, among other things, approval by the shareholders of Plutonian and Big Tree Cloud, regulatory approvals and other customary closing conditions, including a registration statement on Form F-4 (the "Registration Statement") to be filed by the PubCo being declared effective by the SEC, and the listing application of the PubCo being approved by the Nasdaq Stock Market LLC.

Additional information about the Proposed Transaction, including a copy of the Merger Agreement, will be provided in a Current Report on Form 8-K to be filed by Plutonian with the SEC and available at https://www.sec.gov/.  

Advisors

Paul Hastings LLP, Commerce & Finance Law Offices and Maples Group are serving as legal counsel to Big Tree Cloud. Wilson Sonsini Goodrich & Rosati, P.C. and Global Law Office are serving as legal counsel to Plutonian.  

About Big Tree Cloud

Big Tree Cloud is a consumer-oriented, mission-driven, and technology-empowered company dedicated to the development, production and sales of personal care products and other consumer goods in China. Founded in 2020, Big Tree Cloud is committed to delivering high-quality products that cater to the needs of modern, health-conscious, and independent consumers. Big Tree Cloud’s innovative approach and strong community engagement set it apart in the industry, making it a trusted brand in the personal care market.

About Plutonian Acquisition Corp.

Plutonian is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. 

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated implied enterprise value of the Combined Company, Big Tree Cloud’s ability to scale and grow its business, the advantages and expected growth of the Combined Company, the Combined Company’s ability to source and retain talent, the cash position of the Combined Company following closing of the Proposed Transaction, Plutonian’s and Big Tree Cloud’s ability to consummate the Proposed Transaction, and expectations related to the terms and timing of the Proposed Transaction, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Plutonian’s and Big Tree Cloud’s management and are not predictions of actual performance.

These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of Plutonian and Big Tree Cloud believes that it has a reasonable basis for each forward-looking statement contained in this press release, each of Plutonian and Big Tree Cloud cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there will be risks and uncertainties described in the proxy statement/prospectus included in the Registration Statement relating to the Proposed Transaction, which is expected to be filed by the PubCo with the SEC and other documents filed by the PubCo or Plutonian from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Neither Plutonian nor Big Tree Cloud can assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to complete the Proposed Transaction due to the failure to obtain approval from Plutonian’s shareholders or satisfy other closing conditions in the Merger Agreement, the occurrence of any event that could give rise to the termination of the Merger Agreement, the ability to recognize the anticipated benefits of the Proposed Transaction, the amount of redemption requests made by Plutonian’s public shareholders, costs related to the Proposed Transaction, the risk that the Proposed Transaction disrupts current plans and operations as a result of the announcement and consummation of the Proposed Transaction, the outcome of any potential litigation, government or regulatory proceedings, and other risks and uncertainties, including those to be included under the heading "Risk Factors" in the Registration Statement to be filed by the PubCo with the SEC and those included under the heading "Risk Factors" in the annual report on Form 10-K for year ended December 31, 2022 of Plutonian and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that neither Plutonian nor Big Tree Cloud presently knows or that Plutonian and Big Tree Cloud currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of Plutonian and Big Tree Cloud as of the date of this press release. Subsequent events and developments may cause those views to change. However, while Plutonian and Big Tree Cloud may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of Plutonian or Big Tree Cloud as of any date subsequent to the date of this press release. Except as may be required by law, neither Plutonian nor Big Tree Cloud undertakes any duty to update these forward-looking statements.

Additional Information and Where to Find It

In connection with the Proposed Transaction, Plutonian and Big Tree Cloud intend to cause a registration statement on Form F-4 to be filed with the SEC, which will include a proxy statements to be distributed to Plutonian’s shareholders in connection with Plutonian’s solicitation for proxies for the vote by Plutonian’s shareholders in connection with the Proposed Transaction and other matters as described in the registration statement, as well as a prospectus relating to Plutonian’s securities to be issued in connection with the Proposed Transaction. Plutonian’s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, in connection with Plutonian’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the Proposed Transaction, because these documents will contain important information about Plutonian, Big Tree Cloud and the Proposed Transaction. After the registration statement is filed and declared effective, Plutonian will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date to be established for voting on the Proposed Transaction. Shareholders may also obtain a copy of the preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, as well as other documents filed with the SEC regarding the Proposed Transaction and other documents filed with the SEC, without charge, at the SEC’s website located at www.sec.gov.

Participants in Solicitation

Plutonian, Big Tree Cloud and their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Plutonian’s shareholders in connection with the Proposed Transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Plutonian’s shareholders in connection with the Proposed Transaction will be set forth in the proxy statement/prospectus included in the Registration Statement to be filed with the SEC in connection with the Proposed Transaction. You can find more information about Plutonian’s directors and executive officers in Plutonian’s final prospectus related to its initial public offering dated November 9, 2022. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Proposed Transaction, and does not constitute an offer to sell or the solicitation of an offer to buy any securities of Plutonian, Big Tree Cloud or the Combined Company, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

No Assurances

There can be no assurance that the Proposed Transaction will be completed, nor can there be any assurance, if the Proposed Transaction is completed, that the potential benefits of the Proposed Transaction will be realized.

Source : Big Tree Cloud Enters into Definitive Merger Agreement with Plutonian Acquisition Corp. (Nasdaq: PLTN)

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

PETALING JAYA, Malaysia, Oct. 11, 2023 /PRNewswire/ — Last September, VISTA Eye Specialist proudly marked its presence at the prestigious European Society of Cataract and Refractive Surgery (ESCRS) Symposium and Congress in Vienna, Austria. This event, the second participation since the onset of the Covid-19 pandemic, saw a delegation of 20 VISTARIANS representing VISTA Eye Specialist (VISTA) on the global stage and underscored their commitment to advancing knowledge, sharing experiences and fostering invaluable connections within the ophthalmology community.

VISTA’s team at the Messe Wien Conference Hall in Vienna, Austria.

With a contingent of this scale, VISTA demonstrated its unwavering dedication to pursuing knowledge and collaboration. Tan Chin-Ching, CEO of VISTA, emphasized the significance of such gatherings, stating, "It is an opportunity for us to meet face-to-face with many of our international partners, getting to know the top management in person and discussing our future plans. Meetings like this allow each party to understand each other better, and future collaborations are sparked from these engagements."

VISTA’s surgical experts also made a remarkable impact on the international stage. Dr. Jimmy Lim Ing Hong won 2nd Place in the Refractive Research Video Award while also having another video selected for presentation at the conference. Additionally, Dr. Koh Yi Ni had her Refractive Research Poster selected for presentation at the conference. Notably, VISTA’s Medical Director, Dr. Aloysius Joseph Low, was invited as a featured speaker at a Dry Eye Management Symposium during the event.

Dr. Aloysius Joseph Low expressed his pride in VISTA’s contributions, stating, "We are proud to present our studies on the Management of Dry Eye Disease, which is an emerging trend among patients of all ages, as a result of our environment, diets, and especially our usage of digital devices. VISTA contributed to over half of the results in the study of over 1,700 patients on the effectiveness of dry eye treatments."

One of the central themes at this year’s conference in Vienna was Sustainability in the Ophthalmology field. A robust dialogue ensued on how eye clinics can play a pivotal role in mitigating global warming through initiatives such as recycling, reducing carbon footprints, and minimizing environmental impact. Bernard Chan Kwok Loong, Training & Sustainability Manager at VISTA, emphasized the need for collective action, stating, "The industry needs to re-look at how to reduce our impact on the environment. Instead of only focusing on the 3Rs (Recycling, Reducing & Reusing), we need to also engage our stakeholders – especially the suppliers, to take up Sustainability as a business blueprint."

Chin-Ching added, "It is through attending the numerous courses and seminars that we can learn from surgeons from all over the world to improve our work, and our surgeons gain new insights into the clinical aspects. It is also in these instances that many times we get reassurance that what we have been doing is on the right track, and at times even way ahead."

About VISTA Eye Specialist:

Founded in 1999, VISTA provides prominent eye care services in Malaysia with 14 centers nationwide.

Source : VISTA Eye Specialist Achieves International Recognition at European Congress

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

KUALA LUMPUR, Malaysia, Oct. 10, 2023 /PRNewswire/ — Jobstore.com Career Fair 2023 was an immediate success which welcomed more than 20,000 visitors at IOI City Mall Putrajaya, over the weekend of 7- 8th October.

The two-day event organised by Jobstore.com, the leading jobs platform in Malaysia. It has more than 100 exhibitors and employers from top companies in Malaysia and Singapore offered more than 10,000 jobs vacancies. Exhibitors includes AirAsia, myTukar, Malaysian Communications and Multimedia Commission (MCMC), F&N, Employees Provident Fund (EPF) and many more.

Jobstore.com career fair successfully connected candidates, recruiters and employers through meet-and-greet and networking sessions, as well as on-the-spot interview opportunities. On Saturday, representatives from AirAsia, ABEX, myTukar and Cycle & Carriage gave career talks on their respective topics whereas MCMC, AIA and LGMS had their turn on Sunday.

The event was attended by many local and international students from Xiamen University Malaysia, UPM, MMU, Taylor’s, City and many others. Students were given hands-on experience in finding their dream internship and employment opportunities.

Jobstore.com career fair was also supported by its official partners, including the HRD Corp PLACEMENT CENTRE (HPC), and KWSP Malaysia.

About Jobstore

Since the company’s beginning in 2013 and its current location in Malaysia, our website has connected tens of thousands of employers with millions of job seekers.

Employers and recruiters can publish jobs on multiple job sites, classified ads sites, and social networking sites with a single submission, satisfying the need for the right talent while minimizing costs.

Jobstore aspires to provide a recruitment service that will streamline the employment process and facilitate companies’ efficient recruitment of top talent. Simultaneously, we intend to provide job seekers with a robust job search engine and help them secure their dream jobs.

We aspire to be the largest global platform for employment distribution, with support from over 100 job sites and social networks.

Media Contact
Name :Carmen Chong . 
Email : [email protected]

Source : Jobstore.com Career Fair 2023 at IOI City Mall Putrajaya Was A Success

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

DUBAI, UAE, Oct. 11, 2023 /PRNewswire/ — Today, Huawei kicked off the 14th Global Mobile Broadband Forum in Dubai, UAE. Li Peng, Huawei’s Corporate Senior Vice President and President of the company’s Carrier BG, delivered a keynote at the event. In his speech, Li called on global carriers and industry partners to rise to the occasion, address increasing demands on networks, and make the most of the future trends.

"Let’s start today, build tomorrow’s networks for future services, and unleash 5G’s infinite potential for continuous success," he said.

Li Peng, Corporate Senior Vice President, President of the Carrier BG, Huawei

In his speech on powering a positive 5G business cycle and embracing 5.5G (5G-A), Li stated, "We are already on the right path towards 5G business success, and 5G-Advanced is the natural next step in 5G’s evolution." 

He emphasized that when we look back at history, every major economic transformation came from innovation in general purpose technologies. "Now we’re in the digital age, where the Internet is powering the digital economy," said Li in his speech.

"5G is a critical part of new economic transformation," continued Li. "And it’s enabling new innovation in general purpose technologies. For digital industries, 5G is developing fast, opening up new markets and opportunities."

According to Li, future mobile networks need to have six key features: 10 Gbps downlink, 1 Gbps uplink, deterministic networking, support for a hundred-billion IoT connections, integrated sensing and communication, and native AI capabilities. To make this happen, carriers and industry players not only need to continuously enhance their capabilities in three core usage scenarios – enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), and ultra-reliable low-latency communication (URLLC) – but also develop three new capabilities, including Uplink Centric Broadband Communication (UCBC) and Real-Time Broadband Communication (RTBC).

Speaking on 5G-Advanced, the next evolutionary step in 5G technology, Li also noted that the industry needs to work together to promote the development of device and application ecosystems, verify use case scenarios, and accelerate the large-scale commercialization of FWA Square, Passive IoT, and RedCap.

These efforts are crucial to make the most of the five new trends that will shape an intelligent digital future.

Li Peng shares five trends that will shape an intelligent digital future

Glasses-Free 3D

The glasses-free 3D industry ecosystem is maturing fast. Breakthroughs in technologies including cloud rendering and real-time 3D virtual humans will take immersive experience to new heights. Moving forward, more and more devices like mobile phones and TVs will support glasses-free 3D, which will drive data traffic up by a factor of ten relative to 2D video.

Self-Guided Vehicles

By 2025, there will be more than 500 million smart vehicles on the road. With high-bandwidth and low-latency networks, smart vehicles will be able to share information with people, vehicles, roads, and the cloud in real time. In assisted-driving scenarios, smart vehicles will consume more than 300 gigabytes of data every month for cloud-based model training and weekly algorithm updates. In self-driving scenarios, data consumption will rise by a factor of 100.

Next-Gen Manufacturing

With breakthroughs in capabilities like network slicing and edge computing, the number of 5G private networks for enterprise use has increased a hundredfold, and the market size has grown to over US$10 billion. However, as production lines become more flexible, increasingly reliant on wireless networks, and more core production systems are deployed on the cloud, higher requirements are posed on 5G networks.

Huawei worked with a carrier and industry partners to build the industry’s first 5G-Advanced flexible trial production line. For this production line, 5G-Advanced supports high-concurrency and highly deterministic network connections, which helps more efficiently connect computing power between cloud and network edge.

Generalized Cellular IoT

There are more than three billion mobile IoT connections around the world, and 5G now connects more things than people. In the near future, 5G will support a broader range of IoT technologies like medium-speed RedCap and Passive IoT. This will provide more options for different IoT scenarios, allowing for more efficient flow of data, information, and computing power. For example, in the home appliance manufacturing sector, Passive IoT can help provide visibility along the entire distribution and production chain, and has helped increase overall productivity by 30% in verification trials.

Guaranteed Intelligent Computing Everywhere

With the rise of new developments in AI, such as foundation models, demand for AI computing power will see explosive growth. By 2025, this demand is expected to be 100 times greater than current levels. To unleash the full potential of AI computing power, more advanced network capabilities are key. Networks will need to have larger bandwidth and lower latency to power truly intelligent connectivity. In addition, as traffic models begin to change, future networks will need to be more autonomous and intelligent to deliver a reliable experience.

Li Peng at Huawei’s Global Mobile Broadband Forum in Dubai, UAE

Join us for the 14th Global Mobile Broadband Forum, themed "Bring 5.5G into Reality" from October 10 to 11 in Dubai, UAE. Hosted by Huawei and backed by industry partners GSMA, GTI and the SAMENA Telecommunications Council, the forum promises a deep dive into the successes of 5G, the maturity of the ecosystem, the fast-track commercialization of 5G-A/5.5G, and insights into how mobile broadband technology is shaping the future and transforming people’s lives and industries. For more information, please visit MBBF2023 at: https://www.huawei.com/en/events/mbbf2023

Source : Huawei Li Peng: Powering a positive 5G business cycle and embracing 5.5G (5G-A)

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

HANGZHOU and SHAOXING, China, Oct. 11, 2023  /PRNewswire/ — Ascletis Pharma Inc. (HKEX:1672, "Ascletis") today announces the poster presentation of Phase II study topline results of ASC40, a first-in-class fatty acid synthase (FASN) inhibitor for treatment of acne, at the European Academy of Dermatology and Venereology (EADV) Congress 2023 in Berlin, Germany. The summary of the poster is shown as below:

Title: ASC40, an oral once-daily fatty acid synthase (FASN) inhibitor, in patients with acne vulgaris: topline results from a Phase II randomized, double-blind, placebo-controlled, multicenter trial

Presenter: Jinzi J. Wu, Ph.D.

Principal Investigator: Professor Leihong Xiang, Huashan Hospital, Fudan University

Poster ID: P0053

Part of Session: Acne and related disorders, hidradenitis suppurativa

Study Design:

This Phase II trial (ClinicalTrials.gov: NCT05104125) was a randomized, double-blind, placebo-controlled, multicenter study. 180 patients with moderate to severe acne vulgaris were randomized into three active treatment arms and one placebo control arm at the ratio of 1:1:1:1 to receive ASC40 (25 mg, 50 mg or 75 mg tablet) or matching placebo tablet orally, once daily for 12-week treatment and 2-week follow-up. Efficacy and safety of 12-week treatment of ASC40 or placebo were assessed.

Results:

Table 1 summarized the topline data of primary and key secondary efficacy endpoints at Week 12 versus baseline. Overall, all three doses of ASC40 demonstrated good efficacy compared to placebo. The efficacy of ASC40 seemed maxed out at 50 mg dose.

Table 1. Primary and key secondary efficacy endpoints of 25 mg, 50 mg and 75 mg ASC40, oral, once daily tablet for 12 weeks vs placebo (n=179)

Endpoint

25 mg ASC40, oral, once
daily, 12 weeks (n=45)

50 mg ASC40, oral, once
daily, 12 weeks (n=44)

75 mg ASC40, oral, once
daily, 12 weeks (n=45)

Placebo, oral, once
daily, 12 weeks (n=45)

% change from baseline in total lesion count at
week 12 (primary endpoint) §

-53.2

-61.3

-53.1

-34.2

P value vs placebo

0.005

0.008

0.008

NA

Absolute change from baseline in total lesion count
at week 12 (key secondary endpoint) §

-56.0

-60.5

-46.0

-37.0

P value vs placebo

0.024

0.030

0.083

NA

% change from baseline in inflammatory lesion
count at week 12 (key secondary endpoint) §

-54.4

-65.0

-60.0

-31.4

P value vs placebo

0.006

0.003

0.029

NA

Absolute change from baseline in inflammatory
lesion count at week 12 (key secondary endpoint) §

-25.0

-26.0

-22.0

-13.0

P value vs placebo

0.007

0.003

0.032

NA

Note: § Data are medians. 

Conclusion:

Topline results of this study showed that oral ASC40, once daily, 12-week treatment was safe and well tolerated. ASC40 improved significantly in total lesion, inflammatory lesion, and IGA (Investigator’s Global Assessment) treatment success. Based on efficacy and safety assessment of this Phase II study, the Phase III clinical trial is warranted and will be initiated soon.

"It’s a great honor to present our Phase II clinical trial results of ASC40 for acne treatment at the EADV Congress. Acne is the eighth most prevalent disease in the world and affects more than 640 million people globally.[1] The FASN inhibitor ASC40 is a first-in-class drug candidate with novel mechanism, demonstrating significant efficacy and good safety in the Phase II clinical trial. The Phase III clinical trial of ASC40 for acne will be initiated soon and we expect to provide a new option for acne patients in the future." said Dr. Jinzi J. Wu, Founder, Chairman and CEO of Ascletis.

[1] Tan J K, Bhate K. A global perspective on the epidemiology of acne [J]. Br J Dermatol 2015, 172 Suppl 1(3-12). DOI: 10.1111/bjd.13462.

About EADV

The European Academy of Dermatology and Venereology (EADV) has over 8,500 members and an active community of more than 14,000 professionals around the world. The EADV Congress is the annual international congress for the latest scientific advances and research in dermatology & venereology, bringing together healthcare professionals, organisations and industry from around the world to maximise impact. This year’s event will be held in Berlin, Germany from October 11 to 14.

About Ascletis

Ascletis is an innovative R&D driven biotech listed on the Hong Kong Stock Exchange (1672.HK), covering the entire value chain from discovery and development to manufacturing and commercialization. Led by a management team with deep expertise and a proven track record, Ascletis focuses on three therapeutic areas with unmet medical needs from a global perspective: viral diseases, non-alcoholic steatohepatitis (NASH) and oncology. Through excellent execution, Ascletis rapidly advances its drug pipeline with an aim of leading in global competition. To date, Ascletis has multiple drug candidates in its R&D pipeline. The most advanced drug candidates include ASC22 (CHB functional cure), ASC40 (acne), ASC40 (recurrent glioblastoma), ASC40 (NASH), ASC41 (NASH) and ASC61 (advanced solid tumors).

ASC40 is licensed from Sagimet Biosciences Inc. for the exclusive rights in the Greater China. 

For more information, please visit www.ascletis.com.

Source : Ascletis Announces Poster Presentation of Phase II Study Topline Results of FASN Inhibitor ASC40 for Treatment of Acne at EADV Congress 2023

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

JERICHO, N.Y., Oct. 11, 2023 /PRNewswire/ — Global consulting firm J.S. Held announces expanded corporate finance and investment banking expertise with the acquisition of Phoenix Management, providing operationally focused turnaround, transaction, strategic growth investor services, and Phoenix IB®, an independent licensed broker-dealer under federal and state securities law (CRD#: 132710/SEC#: 8-66628), providing special situation investment banking solutions to middle-market enterprises across the United States.

Phoenix Management Services®, under the leadership of Michael Jacoby, James Fleet, Brian Gleason, and Joseph Nappi has decades of experience, across more than 50 industries and over 1,600 client engagements, enabling the team to assess complex situations rapidly, providing valuable financial insights and operational assessments to help private and public sector clients achieve their business goals. Their experts serve middle market clients across numerous sectors, providing: 

Bankruptcy Advisory Business & Operational Assessments Crisis, Turnaround, and Liquidity Management Independent Director Roles Interim Management (CEO, CFO, COO, CRO) Investor Support Services Operational Improvement & Restructuring Secured Creditor Advisory

Michael Jacoby, Senior Managing Director and Shareholder at Phoenix Management, shares, "We see a tremendous opportunity to expand our teams’ collective executive, financial, operational, and strategic management expertise in combination with the experts at J.S. Held." Mr. Jacoby continues, "As a part of J.S. Held, our clients will benefit from our global footprint and expanded capabilities, working alongside 1,500 experts with deep technical and scientific mastery and a unique understanding of intellectual property and intangible value drivers, among others."

Phoenix IB® provides sell-side and buy-side M&A advisory services and private debt and equity placements, primarily for middle-market companies. The investment banking team is well-known for its depth of experience – multi-transaction relationships that span decades, and a successful track record of closing innovative and award-winning transactions. The team thrives in distinctly complex deals, including niche businesses or story-driven transactions, tight funding deadlines or enhanced leverage requirements, unusual structuring requirements, and distressed or turnaround, including 363 sale processes. 

David Weiner, Executive Vice President at J.S. Held, shares, "Among many qualities that were attractive to us in this acquisition is the unique combination of entrepreneurial and visionary leaders with an unwavering focus on operations that helps clients maximize enterprise value." Mr. Weiner continues, "The addition of the Phoenix team reinforces our shared expertise across many sectors, including construction, energy and power, healthcare, high tech, manufacturing, retail, telecom, transportation, and others."

As a result of the transaction, Phoenix Management clients have access to more than 1,500 technical, scientific, financial, and strategic experts across five continents, including business enterprise and intellectual property valuation; compliance and regulatory consulting; forensic accounting, labor, and dispute investigations; M&A regulatory response; ESG & sustainability consulting; cybersecurity; interim management and independent director candidates, among others. 

For more than 25 years, Phoenix Management Services has published its proprietary "Lending Climate in America" survey to evaluate national lending attitudes and trends. Each quarter, the survey is distributed to over 5,000 lenders nationwide. Visit the Lending Survey at Phoenix Management to learn more.

Clearsight Advisors served as financial advisor to Phoenix Management in connection with the transaction.

To learn more about Phoenix Management, a part of J.S. Held, please visit: https://www.jsheld.com/about-us/news/js-held-acquires-phoenix-management.

About J.S. Held

J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets.

The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.

J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved.

CONTACT:
Kristi L. Stathis
J.S. Held LLC
[email protected]
+1 786 833 4864

Source : J.S. Held Expands Turnaround & Restructuring, Corporate Finance, & Capital Raising Expertise with the Acquisition of Phoenix Management Services® and Phoenix IB®, a FINRA Registered Broker-Dealer

This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network