APAC Insider Magazine / October 2016
Leadership in the Asia Pacific
Ensurance Expanding into Europe Stefan Hicks, managing director at Ensurance Ltd., gives us an insight into how the company operates. - Page 16
Global Virtual Reality Market to Reach $940 Million, China Tops Market - Page 21
Asiaâ&#x20AC;&#x2122;s Emerging Global Cities Entice Retailers Seeking Growth - Page 4
APAC Insider Magazine / October 2016
Editor’sNote Welcome to the October edition of APAC Insider Magazine, which features the latest news, updates and developments across the Asia Pacific region. Ensurance Ltd have set up new offices in the UK. Their managing director tells us about the company’s expansion into the international market.
We also explore the continued growth in technology in the region including the news that the Chinese virtual reality market is expected to be worth $840 million by the year’s end, according to a report by e-commerce company JD.com and Currencycloud which will be supporting digital enterprises with the introduction of six new local pay-out countries in APAC to its platform. Also, we delve into the hospitality industry to see how Dari Indera Villas and Spa, based in Indonesia, is expanding its operations to the UK and Ireland, whilst also exploring the news that The Luxury Collection® Hotels & Resorts is making inroads in China with its debut in Hunan province. Lastly, we wrap up the latest APAC deals and partnerships. We hope you enjoy this issue.
Contents 4. News
8. BASF Leverages Growth Opportunities in Asia Pacific 10. Denzo Selects Site for 30 MW Solar Farm
12. The Luxury Collection® Hotels & Resorts Expands Its Footprint in China with Landmark Debut in Changsha 14. Three Little Birds PR appointed by Indonesian Villa Group
16. Ensurance Expanding into Europe
18. BankIslami Pakistan Limited goes live with iMAL*PCS Java version 14 20. CCNA Leverages GENBAND’s Real-Time Unified Communications Solution in Australia and New Zealand 21. Global Virtual Reality Market to Reach $940 Million, China Tops Market 22. NetSuite Unveils New OneWorld Features for Businesses in Australia and New Zealand 24. VALIDITY Group Named Qstream Reseller in APAC 26. World-Leading Toymaker, Australia’s Moose Toys, Steps Ahead of the Herd with Magic Software’s Integration Platform
APAC Insider Magazine / October 2016
Asia’s Emerging Global Cities Entice Retailers Seeking Growth
Asia is fuelling the growth of the global retail sector with Chinese cities dominating the region’s fastest expanding markets, says a report from real estate consultancy JLL.
The Destination Retail report reveals that of the top 20 growth cities for retail around the world, 12 are in Asia and of those, eight are in China.
suburbs are also experiencing rapid growth as people choose to shop more locally rather than brave the traffic into the city centre.
“The global retail landscape is expected to change significantly over the next 10 years, as a fast-growing middle class in emerging markets attracts retailers hungry for growth,” says David Zoba, Chairman of JLL’s Global Retail Leasing Board.
“Emerging markets can expose international retailers to greater levels of economic and geo-political risks. One pertinent example is China’s anti-corruption campaign and the knock-on effects on the luxury market,” says James Hawkey, Head of Retail for China, JLL. “However, international retailers are increasingly comfortable dealing with these risks, and generally have their eyes on the long term prize of establishing a strong position in major world markets.”
“The search for growth is escalating the penetration of international brands across the world’s most attractive retail cities, especially in Asia. Retailers who succeed in acquiring the right space in the right place at the right time will benefit from successful, profitable growth, but they should be mindful that potential rewards go hand in hand with risk,” continues Mr Zoba. Of the fastest-growing retail destinations around the world, Shanghai comes in second behind Dubai. The Chinese megacity has become a favourite of international brands looking to test the Chinese market and gain exposure. While established prime markets include West Nanjing Road and Huaihai Road, new submarkets targeting local residents are popping up along the many new metro lines leading out of the city, and the city’s retail network is growing and shifting. Beijing follows as the third-fastest-growing retail market with its swelling middle class and strong concentration of high-net-worth individuals. Properties such as China World Mall and the landmark project Taikoo Li continue to draw high-end shoppers, while malls like Beijing APM and Oriental Plaza dominate tourist-friendly shopping strip Wangfujing. The Chinese capital’s
Rents in these emerging markets reflect legislation, market transparency, reputational risk, maturity, as well as growth potential, meaning that their levels are relatively low compared to more mature markets. Places like Ho Chi Minh City, Jakarta and Bangalore present an opportunity for retailers to establish their brands at rents of less than US$2,000 per square metre per year with projected instore sales increasing by 8 to10 percent until 2019, based on Oxford Economics forecasts. However, as cities mature and the pace of new construction of retail centres slows, rents will gradually increase. JLL’s Destination Retail report 2016 examines the presence of 240 international retail brands across 140 retail cities, giving insights for international retail expansion. The 140 cities make up 36 percent of the world’s GDP, 13 percent of the global population and 33 percent of total consumer spending.
Currencycloud to Power APAC Expansion for Digital Enterprises
Introduction of local payments to Hong Kong, Singapore, Thailand, China, Australia and India will connect Currencycloud clients seamlessly with Asia
Currencycloud will be supporting digital enterprises to set their sights beyond Europe, with the introduction of six new local payout countries in APAC to its platform. Clients building digital platforms will be able to integrate low cost and predictable local payments in Hong Kong Dollar (HKD), Singapore Dollar (SGD), Thai Baht (THB), Chinese Yuan (CNY), Australian Dollar (AUD) and Indian Rupee (INR). By connecting directly into the local clearing systems, Currencycloud enables clients to bypass the costly and opaque correspondent banking network, while also taking advantage of wholesale FX rates to deliver innovative solutions to their end customers. These new capabilities will be rolled out over the next three months starting with Hong Kong and Singapore. APAC is the world’s fastest growing economic region, bringing enormous opportunity for businesses to expand their horizons to include this market. The ability to move money seamlessly across borders plays a vital role in allowing these firms to scale, and take advantage of the full potential of the digital economy. Currencycloud’s move to offer these new currencies will provide fast-growth companies from across the globe with the tools they need to embrace opportunities across APAC, helping them to side step the challenges that often arise with entering new markets. The infinitely flexible API solution enables clients to manage the complexity of global payments with one connection. Todd Latham, CMO Currencycloud says: “We are witnessing an exciting era, with the emergence of a new cohort of dynamic digital based offerings. Traditional financial services offerings risk slowing
this wave of innovation, due to their limited capability and flexibility. By connecting new applications to Currencycloud, innovators can bring their ideas to market quickly and seamlessly, and we will deal with the complexities of the global banking system in the background. This move into Asia makes it easier for our customers to access low cost payments in the fastest growing economies in the world.” About Currencycloud Currencycloud‘s Payment Engine is the power inside countless businesses, driving the transformation of the global payments landscape. The company is reimagining the way money flows through the global digital economy, allowing payment firms to remove the friction and inefficiencies of traditional crossborder payments using its flexible APIs. Launched in 2012 Currencycloud is based in London and is regulated in Europe, the USA and Canada. Web address: www.currencycloud.com
APAC Insider Magazine / October 2016
Allegis Group Completes Brand Portfolio Realignment Across North America, EMEA and APAC
Global recruitment brands offer specialization to best serve customer needs.
Allegis Group, Inc., the global leader in talent solutions, has completed realignment of its recruitment brand strategy across North America, EMEA and APAC and reaffirmed its commitment to providing a specialized focus on skill categories. Hiring organizations in these regions will continue to benefit from recruitment partners that possess deep understanding of their business priorities, and who are able to precisely source and screen candidates against specific priorities. Similarly, such concentration enables Allegis Group’s recruitment brands to facilitate career advancement for job seekers based on a rich appreciation for their distinct skills and expertise. “Collectively, the Allegis Group delivers a full suite of complementary talent solutions to empower business success. We are very excited to complete the process of global brand alignment for our recruitment and staffing businesses,” says Allegis Group’s Global Development Officer Chris Hartman. “Now more than ever, our internal teams are primed to deliver consistent customer experiences for each of our recruitment brands, in every region we operate. Each brand has a distinct and specialized focus, ensuring our customers receive the right level of consultation and expertise. At the same time, each brand is also connected by the Allegis Group commitment to an unsurpassed quality experience.” The recruitment brands that are now operating globally include: • Aerotek: Focused on scientific, engineering, industrial, and office/clerical skills • TEKsystems: Focused on the full spectrum of IT skills • Aston Carter: Focused on accounting, finance, and professional skills
These brands join the full portfolio of Allegis Group brands, the majority of which already operate globally. •
• • • • • •
Allegis Global Solutions: Managed Services Provider (MSP) & Recruitment Process Outsourcing (RPO) services Major, Lindsey and Africa: Legal search services Allegis Partners: Executive search services TEKsystems Global Services: IT services EASi: Engineering services MarketSource: Sales outsourcing solutions GettingHired: Disability outreach and recruitment solutions in North America
This news statement supplements previous announcements in which Allegis Group conveyed it repositioned its recruitment brand strategy in the APAC market and also decommissioned the brands Stephen James Associates, Talent2, Allegis-BN, and Benchmark by consolidating them into existing brands. That effort to bring greater specialization to its recruitment services for contract and permanent roles was part of the transitioned approach to achieve the global brand alignment now complete. “Many clients, especially larger enterprises, take a global perspective on competitive talent trends and workforce strategies,” Hartman adds. “They want a partner that can do the same while also delivering a consistent experience, which for Allegis Group, begins with caring more and working harder than any other provider in the talent solutions space. We take great pride in what we do and are thrilled that our global brand strategy will help us continue to connect great people to great opportunities.” Web address: www.allegisgroup.com
New VP Operations Appointed to Take On the Global Expansion of digEcor
Paul Forbes has been appointed as the new VP Operations for global IFE provider digEcor effective immediately, based in Brisbane. digEcor is delighted to announce the appointment of Paul Forbes as VP Operations. Forbes will be based in the Australian head office in Brisbane, Queensland and will be handling all operations management across the digEcor network. Paul began his aviation career with Contour (now Zodiac Aircraft Seating) in the UK early 2000 and has since held Operations, Engineering Programme, Project Management and PMO roles with Airbus, Jet Aviation and UTC Aerospace. Subsequent industry experience includes Infrastructure, Automotive, Defence, Electronics and Telecom markets. In addition to Paul’s mechanical engineering and software development background Paul also has significant experience in manufacturing. digEcor’s partner company Microair Avionics, an avionics design and manufacturing specialist based in Bundaberg Queensland is also included in Forbes remit.
“With exceptional qualifications and demonstrated success Paul is a great asset to the digEcor group. His extensive relationships in the industry with OEMs, MRO, vendors and airlines alike strengthens our commitment to the industry and we look forward to having Paul continue his success at digEcor and Microair”, comments David Withers, Chief Executive. Forbes commented, “I am excited to be joining such an excellent team and look forward to bringing my experience to help grow the business globally, such opportunities are rare and although I expect it to be a challenge, I have an existing team with the expertise and knowledge required to make it successful”. Web address: http://www.DIGECOR.COM
APAC Insider Magazine / October 2016
BASF Leverages Growth Opportunities in Asia Pacific
BASF is well positioned and is adapting quickly to the changing environment in Asia Pacific, as it is now the largest market for the production and consumption of chemicals.
At the BASF Roundtable Asia Pacific for investors and analysts in London, the company presented details on how it aims to grow profitably in the region by building on its strengths. “We are well positioned in Asia Pacific, the world’s largest market for the production and consumption of chemicals. We are leveraging the growth opportunities of the region to contribute to the overall success of BASF Group,” said Sanjeev Gandhi, member of the Board of Executive Directors of BASF SE and responsible for Asia Pacific. Growth in Asia Pacific expected to outpace other regions BASF expects gross domestic product and chemical production in Asia Pacific to continue to outgrow other regions, despite the recent slowdown. “China did not grow as fast as we had assumed. We saw low growth in mature Asian markets. India and South East Asia are picking up slightly. Overcapacities in some commodity product lines have contributed to a changing business environment,” continued Gandhi. “However, even under the ‘new normal,’ Asia Pacific is the growth engine for the world economy. We still see great potential for BASF as the fundamentals have not changed.”
BASF now estimates the compound annual growth rate (CAGR) for real chemical production through 2020 for Asia Pacific at around 5.6%, still well above the world average of 3.7%. The company continues to focus on the following priorities for its business in Asia Pacific: Market: BASF participates in innovative and growing markets where chemistry is an essential enabler for their development. These include transportation, consumer products, electronics, construction, packaging and agriculture. Innovation: By utilizing its new R&D assets, BASF aims to accelerate innovation in Asia Pacific. More than 900 employees already work in research and development across the region. They develop solutions in close cooperation with customers from various industries. Following the expansion of the BASF Innovation Campus Asia Pacific in Shanghai, China, the company is establishing a second Innovation Campus Asia Pacific in Mumbai, India. It will be inaugurated in 2017, focusing on crop protection and process engineering.
Portfolio management: On both a global and regional level, portfolio management is an on-going task at BASF. The company acquires businesses that complement its current portfolio while strengthening its existing businesses and divesting activities which have a lesser fit with the portfolio or a lower potential for differentiation. With this approach, BASF strives to maintain a balanced portfolio of specialties and solutions and differentiated commodities. Investment: Following significant capacity additions in Asia Pacific between 2012 and 2016, BASF will selectively expand its local production network in the region in the coming years. Planned investments of around €3.5 billion between 2016 and 2020 will focus on areas where BASF is technologically leading, has a competitive advantage and expects robust market growth. BASF’s target to produce around 75% of the products it sells in Asia Pacific in the region by 2020 remains valid. People: BASF has excellent people and leaders in the region, and continues to attract, develop and retain talent in Asia Pacific. The company cooperates with leading universities to access talent and offers multiple training opportunities, for example through the BASF Learning Campus in Singapore.
Excellence: Functional, structural and operational excellence will help BASF drive profitable growth in the region. With an expected contribution of around €250 million, Asia Pacific is a significant contributor to BASF’s global operational excellence program DrivE, which targets an annual earnings contribution of €1 billion from the end of 2018 onward. The keynote presentation by Sanjeev Gandhi and the presentations of BASF’s two regional Presidents, Gops Pillay and Dr. Stephan Kothrade can be found at www.basf.com/RT-Asia-Pacific. About BASF At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Web address: www.basf.com
APAC Insider Magazine / October 2016
Denzo Selects Site for 30 MW Solar Farm
Australian firm, Natcore technology to finalize heads of agreement
Denzo Group Australia has selected a 90-hectare site in the Wide Bay – Burnett Region of Queensland, Australia, as the location for a 30 MW large scale solar farm.
the best in its category according to criteria agreed upon with Denzo (e.g., most efficient, cleanest operating, lowest cost). Natcore has recently entered into similar agreements in Belize and Vietnam.
To be developed in partnership with Natcore Technology, the American solar R&D company, the site would be developed to a “shovel ready” stage with storage of 30% in three 10 MW modules.
Jointly Natcore and Denzo will develop a better than usual Return on Investment scenario over a 30year tenure. Natcore and Denzo will participate in a portion of the power purchase agreement.
In September 2013, Denzo and Natcore signed a Memorandum of Understanding, under which the companies started planning for Natcore Australia. Then in July 2014, they announced plans to form a joint venture that would produce solar cells and solar panels in Australia, with Australia as the headquarters for this activity. Official documentation for the current project will be finalised as a Heads of Agreement within 30 days.
“Queensland is known to be an excellent environment for solar energy,” says Ken Mathews, Managing Director of Denzo. “The Queensland Government has released a plan to have a target of 50% Renewable Energy by 2030, hence the opportunity for high growth.”
Under terms of the Heads of Agreement, Denzo will coordinate the purchase of the land, all of the required approvals and the designation of the facility to be recognised as a Solar Power Station as well as the connection to an approved Sub Station to export the electricity to the Grid. Natcore is preparing equipment recommendations on a “best of breed” basis, i.e., they are putting forward items that would be selected from manufacturers in Germany, China and elsewhere around the world. Each piece of equipment would be
“This project will place Natcore at the forefront of the Asia Pacific Area for Renewable Energy,” says Natcore President and CEO Chuck Provini. “Both parties look forward to the signing of the subject Heads of Agreement.” Queensland is the second-largest and third-mostpopulous state in the Commonwealth of Australia. It is situated in the northeast of the country. Wide Bay– Burnett is a region of Queensland, located between 170 and 400 kilometres (105 and 250 miles) north of the state capital, Brisbane. The area’s population growth has exceeded the state average over the past 20 years, and it is forecast to grow to more than 430,000 by 2031.
South Korea 3,692
Taiwan 4,031 Philippines 2,580
Thailand 2,580 Malaysia 11,125
Sri Lanka 1,499
Indonesia 4,676 Australia 36,276
New Zealand 1,129
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APAC Insider Magazine / October 2016
The Luxury Collection® Hotels & Resorts Expands Its Footprint in China with Landmark Debut in Changsha
The Meixi Lake Hotel is poised to set a new benchmark for luxury hospitality in China’s Hunan province.
The Luxury Collection® Hotels & Resorts, part of Marriott International, has announced the opening of The Meixi Lake Hotel, a Luxury Collection Hotel, Changsha, in China’s burgeoning Hunan region. As the storied city’s newest international luxury hotel, The Meixi Lake Hotel joins The Luxury Collection brand’s rapidly expanding portfolio in China, which currently includes the legendary Astor Hotel in Tianjin, Twelve at Hengshan and The Hongta Hotel in Shanghai, The Royal Begonia Resort in Sanya, The Azure Qiantang in Hangzhou, The Castle Hotel in Dalian and The Grand Mansion in Nanjing. “The opening of The Meixi Lake Hotel is a momentous occasion for the brand, as we continue to strengthen The Luxury Collection’s presence in China,” said Meredith Dichter, Global Brand Director, The Luxury Collection. “Boasting a portfolio of more than 100 hotels around the world, The Luxury Collection offers global explorers the chance to experience some of the world’s most inspiring destinations while enjoying the brand’s exceptional service and inimitable style.” The Meixi Lake Hotel is an oasis of sophisticated hospitality, seamlessly blending 3,000 years of history with modern urban culture and commerce. With an ideal setting in the midst of the dynamic Meixi Lake Zone – a new area for business, retail
and entertainment – the 52-story landmark tower is situated next to The Mall of Splendors, Changsha’s exciting new retail destination which overlooks the stunning, Zaha Hadid-designed Meixi Lake International Culture & Arts Center. “From the natural beauty, rich cultural heritage and ancient historical sites, to a new, vibrant entertainment and retail scene, The Meixi Lake Hotel is located at the ideal location from which to fully experience Changsha,” said Mr. Eddie Tang, General Manager, Meixi Lake Hotel. “We are looking forward to welcoming visitors from around the globe, offering them an indigenous travel experience in this energetic, multifaceted city.” The hotel’s design is inspired by the famous poem “Journey to the Immortal Peach Garden” by Tao Yuanming, a seminal piece of Chinese utopian literature about a local fisherman who travels upstream and discovers a hidden paradise behind a grove of blossoming peach trees. Artistic elements and interior design echo the tranquillity and beauty of Tao’s secret utopian grove. From textured walls to recessed lighting to lush carpet – each area creates a transitional space. With exterior architecture by Callison RTKL, interior by HBA and all dining and event venues designed by Rockwell Group Madrid, the hotel’s aesthetic is the modern embodiment of Tao’s vision.
Hospitality The Meixi Lake Hotel features 310 spacious and elegantly designed guest rooms, including six suites and an expansive 3,000 square-foot Presidential Suite. Guests can enjoy breath-taking views of the Yuelu Mountain and the serene Meixi Lake from the comfort of their rooms. The hotel also offers an array of guest amenities, including a heated indoor swimming pool and a luxury spa with 14 treatment rooms, and almost 33,000 square feet of event space on the third level overlooking Meixi Lake including meeting rooms and a Grand Ballroom. Guests can choose from four distinct culinary experiences including the Lobby Lounge, a contemporary bar offering a selection of signature cocktails and authentic teas; a destination tea house; The Field, an all-day dining restaurant; The Peach Garden, a farm-to-table concept that uses fresh ingredients for innovative Hunan and Cantonese specialties, and finally, the Chic & Twist on 5, a stylish steakhouse and wine cellar that transitions into a late night lounge with live music.
“We are thrilled to launch the eighth hotel within The Luxury Collection Hotel & Resorts brand in Greater China, and this opening also marks Marriott International’s first-ever luxury hotel in this historical city,” said Mr. Stephen Ho, Chief Executive Officer, Greater China, Marriott International. “The growth of The Luxury Collection reflects the heightened demand for experiential luxury travel and we will continue to offer unique, authentic experiences that evoke lasting, treasured memories for our guests.” As part of The Luxury Collection Hotels & Resorts, the hotel will offer The Luxury Collection Concierge service to help discerning guests explore and unlock the very best of the destination. Each Luxury Collection Concierge is a bilingual, certified destination expert, proudly wearing the “clef d’or,” the gilt insignia of the celebrated international concierge society, and eager to reveal the secret treasures of their city. Web address: www.LuxuryCollection.com/ meixilake
APAC Insider Magazine / October 2016
Three Little Birds PR appointed by Indonesian Villa Group
Dari Indera Villas and Spa have appointed Three Little Birds PR to manage its trade relations, marketing and strategy in the UK and Ireland.
Specialists in the travel and tourism sector, Three Little Birds PR and Business Development has been appointed by Dari Indera Villas and Spa to spearhead and manage its trade relations, consumer marketing and PR strategy in the UK and Ireland, following a competitive pitch. This strategy is currently being implemented by Cheshire-based Three Little Birds, which will aim to establish a strong focus on travel trade, with tour operator and agent management playing a very prominent role. Dari Indera Villas and Spa is a group of brand new luxury villas based in Bali, launched by property developer Paul Blackburn. The inaugural villa, ‘the Muse’, is a 4-bedroom luxury property, set in the heart of urban Seminyak. Three Little Birds PR and Business Development will be working with the accommodation provider to profile the villas, promoting the collection in new markets as well as positioning the group on the media map. The agency will work with tourist boards, travel writers, broadcast outlets, bloggers and social influencers to build awareness of this stunning portfolio. New PR campaigns will be developed to generate news content, and industry press trips will be organised to produce features in the consumer media. “We brought in Three Little Birds PR and Business Development not only for their in-depth knowledge of the travel and tourism industry, but their clear
understanding of the UK market and how best to represent and manage ‘DIVaS’. They have already demonstrated to use their clear passion, and the innovative ways in which they will be supporting our growth and development as we continue to expand our villa portfolio” said Paul Blackburn, Founder. “Sheila and the team at Three Little Birds have given us great confidence in our launch to the UK market with their approach to explore all possible markets and increasing our brand visibility through a variety of media platforms”. “We’re thrilled about our partnership with Dari Indera Villas and Spa,” said Sheila Manzano, Managing Director of Three Little Birds. She went on to say “the opportunity to represent such an exclusive portfolio which is new to market is really exciting. Our dedicated team is looking forward to working hard to develop DIVaS, driving awareness and building sales, and are kick-starting the campaign with a series of individual press trips.” Dari Indera Villas and Spa have launched their new website, www.dariindera.com along with their inaugural villa, the Muse, this month. the Muse is a 4-bed luxury property in the heart of urban Seminyak. Their flagship property, the 4-bed rural retreat Villa Dari Indera, is due to open in Tanah Lot later this year.
The group’s founder, Paul Blackburn, is targeting specialist agents in the UK, and hopes that the British market will account for around 50% of customers. “Luxury specialists can sell us, as can Asia specialist agents, and we see this as a terrific opportunity” Paul said. “We’re paying 10% commission on the gross sale, and with an average week’s stay coming in at £3700 without any extras selected, there is great potential. We also see Bali as a key destination for the trade to sell in the coming months, due to the recent visa changes and flight availability which makes Indonesia much more accessible”.
UK market”. He went on to add of the destination, “it ticks all the boxes and has so much diversity to offer the UK traveller.” The Ministry of Tourism for the Republic of Indonesia anticipate attracting an additional 450,000 foreign tourists annually, and Dari Indera Villas and Spa hope to be a part of that growth. With rates from £350 per night and prices including private airport transfers, housekeeping, private security, and daily breakfast, as well as optional extras available such as a private chauffeur or chef services, the Muse is available for booking now.
Richard Hume, Country Manager for Indonesia in the United Kingdom has said, “I strongly believe there is excellent potential for continued growth from the
APAC Insider Magazine / October 2016
Ensurance Expanding into Europe
As an insurance broker, underwriting agency and IT provider, Ensurance has expanded from Australia to international markets. Stefan Hicks, managing director at Ensurance Ltd., gives us an insight into how the company operates.
Ensurance started life as a general insurance brokerage in 1990 in Perth, Western Australia. In 2003, the company set up national headquarters in Sydney. Listing on the ASX (Australian Stock Exchange) in 2015, Ensurance Limited is the parent company to three entities; the brokerage (retail), an underwriting agency (wholesale) and an IT company that develops all of our innovated IT solutions. We have recently announced the opening of our London office, signalling the start of UK operations. Until 2008, the company traded as a normal brokerage when the business first decided to outsource the development of our own bespoke software to increase in-house efficiencies. It was a major success that has allowed Ensurance to dramatically reduce staff, whilst growing its revenue. From there, it was obvious that the company should develop its advice driven IT solutions to be front facing so the client had 24-hour access to our products and services, and in turn, this massively decreased the acquisition costs through automated administration. Since then, Ensurance has continued to invest heavily in developing a global leading IT platform that now provides multiple quotes, usually within two minutes, from multiple insurers, bound, paid and documented usually within seven - ten minutes. All compliance is automated which dramatically reduces associated costs. Ensurance differs from other insurance comparison sites as the company provides advice and controls the entire transaction. It owns and manages the client with their insurance policies throughout the entire lifecycle. This enables the company to accumulate and book build its revenue at an exponential pace. It also allows Ensurance to white label its IT platforms and provide the complete broking infrastructure to its financial institutional partners without the significant associated expenses.
The client approach which Ensurance has developed is based on consumer expectations as Stefan describes. “Consumers should not need to shop online for an hour or more to research and generate multiple insurer quotes, then becoming confused as to whether they are comparing ‘like for like’ in relation to individual product offerings. We offer a one stop shop providing online, written and verbal advice to assist the customer choosing the product most appropriate for their needs. We are in the business of automating as much of the insurance purchasing process as possible depending on the product offering. High volume low margin products are where the most benefit is delivered.” Stefan Hicks, our Managing Director, explains more about how the firm has helped clients from a wide variety of industries. “Our online insurance solutions currently target multiple industries within Australia, these include major contributors to the economy including the construction industry and financial services industry, which enable the customer to research and purchase the most appropriate insurance solution based on their own requirements or alternatively offer these solutions to their own clients (White label). We will continue to build online solutions where customers lack choice or easy access to insurance when and where they wish to purchase.” Ensurance’s business strategy is to simplify the insurance transaction for all participants; the consumer, the broker and the insurer. It has executed this by examining all personalised elements of the transaction, which are different for each party. Generally, consumers want an accessible 24/7 advice driven, multi insurer platform that is simple to use, and results in an enjoyable customer journey. Brokers wish to have a platform that reduces the time taken to write new business, hence increasing margins and earnings, and
Insurance extending their service propositions directly to their clients. Insurers wish to decrease the cost of acquisition, offer their product suite delivery into new channels and simplify ongoing maintenance and management of the client (renewal and claims management). In addition, simplifying, automating and decreasing compliance costs in the transaction is of utmost importance to both the broker and the insurer. Stefan explains more about Ensurance’s strategy, saying, “Our strategy is focused on the retail consumer and small to medium business sector (SME). These two sectors of the general insurance industry within Australia are the largest combined markets, providing 35% of the industry volume. We believe as a licensed intermediary, our independence and automated advice, combined with support services and strong insurer brands give the customer the confidence in purchasing online insurance. Clients will have an independent insurance specialist who represents them when they need it most.” Ensurance is in its eighth year of building online support systems, to enable our business to have the most competitive advantage in our target markets. We are able to produce more profit margins and provide more competitive pricing due to this investment. Strong insurer brands also assist as clients are not always looking for the cheapest price, in fact the minority purchase the cheapest solution where the full advice model is in place. Ensurance has adapted well to the current economic climate. Stefan explains how the company has maintained success in a difficult sector, and what challenges are present in the APAC region. “The development and implementation of online solutions offering multiple insurer options is in its infancy to the retail and SME customer, it is demanded by the purchaser and very few businesses without adequate licensing arrangements can offer this choice. A strong distribution channel is critical and cross selling benefits within the financial services industry provides this synergy in a range of products. “The future of the retail and SME Insurance sector will need to offer a combination of online research tools and easy to use online purchasing solutions combined with the appropriate support services. The reducing margins offered in these products do not support traditional distribution methods. Compliance management is also critical and one of the greatest challenges. The automation of a component of the compliance requirements is critical to both the Insurer, intermediary and the customer. This will ensure products are easily accessed and priced commercially for the longer term.” Since Ensurance was founded, technology has changed dramatically. Stefan tells us what Ensurance has done to adapt to these technological changes and what todays clients expect in contrast to a few years ago. “Firstly, embracing cloud technology enables the company to scale its operations to any size, whether locally or on a global basis. Also, recruiting our IT experts internationally produces world class code development and the efficient
use of business intelligence. It is the challenge of merging these aspects correctly with the stale risk adverse general insurance industry that sets Ensurance apart from its competitors. However, executed accurately, this empowers Ensurance with a first to market advantage in the digital disruption of general insurance. “Consumers of today are demanding to research, and identify and purchase their own insurance policies through digital mediums 24/7. There are now numerous global industry reports that illustrate the sector is scheduled for massive digital disruption. The manner in which insurance is purchased by consumers will dramatically alter over the short to medium period. The general insurance industry is slow to identify the future transformation and in Ensurance’s opinion, most companies will not survive in their current form.” Ensurance meets and excels the consumers demands by enabling them to purchase insurance through simple digital online solutions. The firm is not only well placed for this disruption, but is also one of its leaders, and with the level of success the company has already had, Stefan hopes this success can be maintained well into the future. Company: Ensurance Ltd Name: Stefan Hicks Web Address: www.ensurance.com.au
APAC Insider Magazine / October 2016
BankIslami Pakistan Limited goes live with iMAL*PCS Java version 14
Path Solutions, a leading provider of Islamic banking software solutions, has announced the successful upgrade of the iMAL*ProfitCalculationSystem in Java version 14 at BankIslami Pakistan Limited (“BankIslami”).
Syed Ata Hussain, Head of Information System, BankIslami, said, “I am very proud of the level of professionalism Path Solutions has shown during the upgrade. Armed with a solid implementation methodology and supported by a team of skilled and passionate consultants, Path Solutions was able to fulfil its commitment, and we were able to run the first successful PCS in Java version 14 in Pakistan. We consider this implementation as a major milestone, as the course of the project involved exhaustive upgrade, internal testing phases, multiple UAT cycles and three full scale application testing exercises to ensure uninterrupted business operations following the upgrade. Once again, Path Solutions was up to the challenge and we upgraded successfully owing to the tireless efforts of all teams involved.” BankIslami was the first bank to receive Islamic banking license under the Islamic Banking Policy of 2003 of SBP. It started its operations on April 7, 2006. It is a leading Islamic bank in Pakistan with nationwide network of 317 branches in 93 cities offering a full range of Sharia-compliant financial products. This PCS upgrade was pivotal for BankIslami especially after its merger last year with KASB Bank (in which more than 100 branches of KASB were migrated to iMAL Islamic Banking & Investment System), considering that BankIslami needed several modifications in order to broaden
its operations spectrum to ensure compliance with Central Bank regulations. The latest iMAL*ProfitCalculationSystem module is a Web-based application and can be implemented either on Oracle or Sybase RDBMS. It supports all main browsers in the market (IE11+, Firefox3.6+, and Chrome) and may be deployed on any JEE Web/Application Server Apache Tomcat, Oracle WebLogic, etc. The module incorporates: • Built-in control procedures and compliance with Islamic Sharia • Built-in limits monitoring and exposure control • Extensive credit risk measurement and evaluation • Extensive reporting tools • Pool management control function which allows high flexibility in fund and risk management • High parametric features can be set solely for a portfolio of investments and deposits segregated by currencies, investments and deposit account type or even account periodicity • Various calculation methods, while other business and functional features are all parametric • Guaranteed accuracy, operational efficiency, effective pool control with a large variety of preset calculation criteria based on parametric options.
Path Solutions’ latest PCS Java version will ensure a remarkable improvement in performance and will fulfil all BankIslami’s regulatory requirements. Earlier this year, Path Solutions announced the release of the latest version of the multi-award winning Islamic core banking system, iMAL, which provides users with a modern and updated interface, as well as the addition of several new modules to keep pace with changing legislation and evolving market needs. Path Solutions consistently ranks first in IBS Islamic Sales League Table, a barometer for Islamic core banking systems sales activity. Besides, since the company’s launch 25 years ago, over 100 Islamic financial institutions have selected its iMAL system.
APAC Insider Magazine / October 2016
CCNA Leverages GENBAND’s Real-Time Unified Communications Solution in Australia and New Zealand
First-to-market GENBAND Reseller Partner in ANZ
GENBAND™, a leading provider of real-time communications solutions has announced that Converged Communications Network Applications Pty Ltd (CCNA) a solution and service provider of converged Voice, Video, Application and data solutions for Enterprise and Government in Australia and New Zealand, has added the Nuvia cloud platform to its solutions resale portfolio. GENBAND’s Nuvia service, part of the Kandy Business Solutions portfolio of communications solutions for the 21st century, provides a suite of market-ready desktop, mobile and web-optimized business communications services to small businesses and large enterprises. “Until now, no one has provided Small and Medium Businesses (SMB) with fluid, integrated and capability-rich Unified Communications as a Service (UCaaS) solution in our market,” said Craig Sims, Operations Director and CCNA Co-Founder. “Small and medium businesses now have the ability to stay connected by audio, video or chat in a single, intuitive app. This is truly a game-changer for these businesses.”
Many SMBs rely on off-the-shelf OTT applications to stay in touch with geographically dispersed or traveling employees. Built for consumers, these applications fail to provide the required features, reliability and security business communications depend on. The Nuvia client enables real-time, secure unified communications: users can share messages, files, photos, and location, screenshare or start a conference call with a simple click, keeping everyone informed and streamlining processes. “Nuvia is easy to deploy, simple to use and virtually maintenance-free,” added David O’Connor, GENBAND’s Senior Vice President of Sales for Asia Pacific. “We applaud CCNA for their commitment to empowering their business customers to manage their costs, improve productivity and deliver a superior experience.” The official launch took place on October 20, 2016 in Sydney, Australia, with an event for customers, partners and media.
Global Virtual Reality Market to Reach $940 Million, China Tops Market
Reportlinker Review is a series of posts featuring Innovations, Social and Economic Megatrends to understand the World of Tomorrow.
Reportlinker Review in a nutshell • In 2020, market will increase to $30 billion • Asian market will be worth $10 billion in 2021 • Chinese companies quick to enter market
How is the market? To experience virtual reality (VR) a headset is needed. Applications include simulations and live streaming. Augmented reality (AR) uses handsets or headsets to project images onto real backgrounds. The virtual reality market will reach $970 million this year and $30 billion in 2020, Research in China reports. The augmented reality market also will see growth, reaching $500 million in 2016 and $90.8 billion in 2020.
By 2021, the Asian VR market is forecasted to be worth $10 billion. China is the largest market in terms of technological investment and hardware production. Korea and Japan are the next largest markets. Globally, VR is a niche market, attracting mostly gamers. In China, however, the technology is a widely available form of entertainment. The Chinese VR market is expected to worth $840 million by the year’s end, according to a report by e-commerce company JD.com and market intelligence firm IDC. This means the market will be triple the size it was in 2015 and is growing at a compound annual growth rate (CAGR) of 75.5%.
Urban men under 35 make up the bulk of VR users. Headset price is a barrier for most consumer. The average VR headset sold in China costs $30 and is made of cardboard. Since December, Chinese VR start-ups have raised $1.5 million. More than 60 companies have entered the VR market since July.
Chinese Entrepreneurs • The Chinese VR market is forecasted to reach $8.5 billion in 2020, according to Greenlight VR. • Much of this growth is fuelled by VR cafes and arcades that charge customers a fee. • One success is EMAX, which runs 179 VR kiosks. Customers pay $7.50 for a virtual ride. • The company has gained $6.7 million in venture capital. It soon plans to write VR software. • Another success is the VR Lounge. Customers pay $15 for 30 minutes and must be lounge members. • Members can browse from a VR catalogue. There are approximately 300 VR cafes in China. VR café owner Chen Jiawei believes there will be six times that amount in 2017, according to Quartz. Web address: www.reportlinker.com
This year, the number of Chinese VR users will pass 1.4 million.
APAC Insider Magazine / October 2016
NetSuite Unveils New OneWorld Features for Businesses in Australia and New Zealand
NetSuite Oneworld fuels business growth and global expansion for regional businesses. New functionality enables greater flexibility and better control for any businesses to meet regulatory and tax compliance.
NetSuite Inc., the industryâ&#x20AC;&#x2122;s leading provider of cloud financials / ERP and omnichannel commerce software suites, has announced a host of product enhancements to NetSuite OneWorld, delivering deep global financial capabilities designed for Australia and New Zealand-headquartered businesses and multinational companies in both countries. These new features highlight faster financial close, more flexible tax compliance tools, new payment options for both B2B and B2C businesses, and better control of audit and compliance to meet local statutory requirements. ANZ businesses today confront emerging regulatory requirements, constantly-evolving customer expectations and increased pressures from global competition, as well as pressures to take their own businesses global. Businesses seeking to meet these challenges by gaining business efficiency, growing revenues, entering new markets and expanding globally often find themselves held back by software systems siloed by department, geography or legal entity, leaving them unable to deliver an optimal customer experience and gain insights into their operations. These software systems not only cannot scale with business growth, but also introduce excessive costs and potential errors, while also restricting businessesâ&#x20AC;&#x2122; ability to respond to their changing markets and the needs of their customers. While on premise software such as MYOB or Microsoft Dynamics GP requires costly maintenance
and disrupts the business with every product upgrade forcing companies into version lock, other available cloud financial software solutions only offer basic product functionality that cannot scale and support business needs and growth. The agility, flexibility and scalability that NetSuite OneWorld provides is difficult to achieve by businesses running legacy on premise software such as Epicor, MS Dynamics and SAP in ANZ, that may be years behind NetSuite. NetSuite OneWorld Provides Answers NetSuite has established a strong footprint in ANZ since its inception in 2002. NetSuite OneWorld, already in use by close to 1,600 ANZ-headquartered companies, subsidiaries and legal entities, provides a unified and cloud-based suite of software that is flexible enough to meet the needs of diverse business models, legal structures and geographies. ANZ businesses like Mons Royale, Kitchenware Direct and Seeing Machines and multinational companies such as Williams-Sonoma, Guzman y Gomez and Springfree Trampolines are realising the transformative power of NetSuite. NetSuite OneWorld supports 190 currencies, 20 languages, automated tax calculation and reporting in more than 100 countries, and customer transactions in more than 200 countries. NetSuite OneWorld offers businesses in ANZ the leading cloud ERP system with robust global financial functionality on a single system on which they can build their business now and into the future.
The new NetSuite OneWorld features announced include: For ANZ-Headquartered Companies: Enhanced support for Non-deductible Input Tax, making the process of tracking and recording either GST or VAT for indirect taxes, both in ANZ and abroad, much easier and more straightforward allowing for easier audits and compliance reporting. Tax on Prompt Payment Discounts, allowing businesses that offer rebates or early payment discounts to automate the calculation and posting of indirect tax adjustments when their customers settle their invoices within the discount period (whether for GST in the case of Australia and New Zealand or VAT in Europe). The system will automatically create a credit memo to record the tax adjustment needed ensuring that businesses don’t pay taxes over and above what is needed for compliance. Expanded Online and In-store Payments Capabilities for Australian businesses, through a NetSuite SuitePayments integration with Paycorp, a leading Australian-based provider of enterprise payment processing solutions, ANZ businesses, particularly in retail, now have greater payment options when using the NetSuite SuiteCommerce platform and SuiteCommerce InStore. The partnership allows retail and wholesale distribution customers to deliver seamless omnichannel payment processing – within a single payment solution, improving operational efficiency, minimising the reconciliation of payment data while offering consumers a rich, interactive and intuitive shopping experience. Click here for more on Paycorp. For Multinational Companies in Australia and New Zealand: Enhanced Support for Statutory Chart of Accounts, provides additional flexibility when businesses set up statutory Chart of Accounts to meet their various requirements in different countries around the structure and/or presentation of their chart of accounts to meet local practices or statutory and regulatory requirements. Quick Close Enhancement, as period closing is generally time consuming, especially in situations where there is a need to reopen old periods, make changes and then close all periods again one by one. Quick Close Enhancement speeds up the period closing process by enabling controllers to close multiple prior periods in a batch saving time and effort. Cumulative Translation Adjustment (CTA) Balance Audit Report, financial controllers overseeing multicurrency transactions who want to understand
how NetSuite calculates varying exchange rates to produce their Cumulative Translation Adjustment (CTA) balance sheet will now have an audit report to back up the calculations. The new CTA Balance Audit report enables financial controllers to monitor and audit the CTA account balances through the various tiers of OneWorld consolidation nodes. It shows the contribution to the period end CTA balance from individual accounts. The total of all accounts’ net contribution in a selected period equals the net change in the CTA balance during the same period. Advanced Revenue Management enhancements, delivering usability, revenue forecasting, and revenue reclassification enhancements to Advanced Revenue Management. “With a strong base of innovative and rapidlygrowing customers in ANZ, we continue to meet the needs of local businesses with a flexible, scalable system that can meet their needs as they grow,” said Craig Sullivan, Senior Vice President, International Products at NetSuite. “Companies that run their business on NetSuite take comfort in knowing they may be running the last ERP system they will ever need.”
APAC Insider Magazine / October 2016
VALIDITY Group Named Qstream Reseller in APAC
Global demand for data-driven sales capabilities platform drives expansion in the region.
Qstream, makers of a mobile sales capabilities platform for igniting high-performance teams, has announced that it has named VALIDITY Group as a software and services reseller in the Asia-Pacific region. As a partner, VALIDITY Group will enrich its portfolio of best-in-class SaaS solutions for sales teams with Qstream’s data-driven reinforcement, coaching and performance analytics capabilities, while further expanding Qstream’s reach into the world’s largest enterprises to help manage dynamic market change more efficiently at scale. “Sales managers are so consumed with tasks like forecasting, funnel management and achieving revenue targets, they don’t have time to stop and think about what their teams are actually prepared to bring to every client interaction. Important management tasks like coaching just fall to the bottom of the priority list,” said Chris Tandridge, CEO, VALIDITY Group. “Qstream’s solution delivers the insights and tools that time-constrained managers need to help their reps have value-added business conversations that win deals.” With headquarters in Australia, and offices in Malaysia and Singapore, VALIDITY Group delivers powerful business solutions that expand the capacity and skill level of sales organizations, including knowledge, cultural sensitivity and local language. The company works with market leaders in technology, financial services, pharmaceuticals and manufacturing to maximize the effectiveness of their sales organizations and drive business outcomes. “APAC is an important region for us as we continue
to grow and expand as a company,” said Darach Deehan, global channels director, Qstream. “With VALIDITY Group’s far-reaching network that spans Japan, China, Taiwan, India and Southeast Asia, we will be able to bring our data-driven solution to many more top brands across the globe. VALIDITY Group’s coaching and mentoring solutions are complementary to what Qstream offers, and together we will be able to help sales organizations in the region to grow and succeed.” With an average of 94% user engagement rate, Qstream’s solution combines mobile, science and data analytics in a powerfully simple enterprise solution. Sales reps simply respond to scenariobased challenges pushed to their mobile device that reinforce core knowledge and skills in minutes a day. A predictive insights engine then continuously analyzes thousands of response data points to provide real-time management updates, trends and comparisons that help sales leadership manage and measure sales capabilities at scale. Correlating that data with CRM metrics, organizations can better predict their sales team’s ability to meet forecast goals, and provide necessary coaching to coursecorrect as needed. About VALIDITY Group VALIDITY Group delivers access to world-class solutions that are designed to grow businesses – from vision and strategy through to structure and rewards programs. The company expands the capacity and skill level of sales organizations to drive growth and success through world-class coaching and mentoring solutions. To learn more, visit ValidityGroup.com.
About Qstream Available in 18 languages, Qstreamâ&#x20AC;&#x2122;s sales capabilities platform is used by leading brands in technology, financial services and life sciences, including 14 of the worldâ&#x20AC;&#x2122;s top 15 pharmaceutical companies, to manage the effectiveness of their salespeople and front-line managers at scale. Qstreamâ&#x20AC;&#x2122;s scientific approach has been validated in more than 20 randomized control trials to boost performance and durably change behaviours in just minutes a day using any mobile device. To learn more, visit Qstream.com, follow us @Qstream or like us at facebook.com/Qstream.
APAC Insider Magazine / October 2016
World-Leading Toymaker, Australia’s Moose Toys, Steps Ahead of the Herd with Magic Software’s Integration Platform
Magic xpi Integration Platform to help drive innovation and efficiency by integrating business processes across multiple Oracle systems as well as by automating EDI services. Magic Software Enterprises Ltd., a global provider of software platforms for enterprise mobility, cloud applications, and business integration, and an Oracle Cloud Select partner and Platinum level member of Oracle Partner Network (OPN), has announced that global toy leader, Moose Toys, headquartered in Australia, selected the Magic xpi Integration Platform to help drive innovation and efficiency by introducing business process automation (BPA) across multiple Oracle systems including Oracle’s JD Edwards EnterpriseOne, Oracle Product Lifecycle Management (PLM) Cloud, Oracle Project Portfolio Management (PPM) Cloud, as well as by automating EDI services. Magic’s Australasian representative, Integral Limited, signed the deal. Moose Toys growth and innovation has taken the toy world by storm. By employing creative ideas and cutting-edge technology, among other accolades, Moose has become a leading manufacturer of electronic toys for youth, and its CEO, Manny Stul, was recently named the EY 2016 Entrepreneur of the World. But with the success and growth comes additional challenges. The company has to manage many complex business processes involved in taking new toys to market, have an accurate 360-degree view of its business and operate at optimum efficiency. The need for integration and automation of business processes across systems, led the company to look for an integration platform. Moose Toys is using the Magic xpi Integration Platform to handle most of its integration needs, including
complex EDI integrations with leading global retail customers in US and Australia. These integrations will provide Moose Toys with significant process efficiency and improve the visibility and timeliness of data for the company’s US operations. In addition, Magic xpi will be used for integrations with various applications including Oracle Cloud applications, Oracle’s JD Edwards and Oracle Demantra. “We were looking for an enterprise-grade integration platform that was cost-effective, low- maintenance, and could easily manage business processes between disparate on-premises and cloud systems. Magic xpi ticked all the boxes,” said Ben Dart, COO Moose Toys. “Since we had recently adopted multiple Oracle enterprise systems, Magic’s Oracle Platinum and Cloud Select Partnership, Oracle Validated Integration status, and Magic and Integral’s history of successful integrations sealed the deal.” “Leading its industry through innovation, Moose Toys understands the critical importance of business process automation and access to real-time information to speed processes and improve decision making,” said Avi François Polak, Managing Director of Distribution at Magic. “With its code-free visual approach, broad connectivity and robust IMDG-based architecture, Magic xpi provides Moose Toys with a highly-productive, business-oriented integration solution that also gives them the flexibility to easily integrate more applications and services when their business requires. We’re really excited that every Moose toy will come with a little more Magic.”
About Moose Toys Moose Toys is a global toy company with a passionate mission to ‘make children happy’. The proud recipient of numerous coveted toy awards, including the rare back to back win in 2015 & 2016 of the Girls TOTY awarded by the Toy Industry Association for Shopkins. A total of 114 awards since 1993 solidifies Moose as a market leader who is consistently placed within the top 5 toy companies in the USA and Australia. Distributing to 80+ countries and supported with 200+ strong global team and offices in the US, UK, Hong Kong and Australia (Melbourne, head office), Moose has cemented itself as an innovative creator of properties that transcend from toybox to apps to entertainment. Moose is renowned for designing, developing and distributing toy and lifestyle products across the globe for children of all ages and the young at heart. Moose has products in key toy categories including collectibles, arts and crafts, activity toys, dolls, novelty items and outdoor products, and has brought joy to kids worldwide with successful products such as Mighty Beanz, Beados, Aqua Sand, The Trash Pack™, Little Live Pets™ and the current global collectible craze - Shopkins™! Web address: www.moosetoys.com
APAC Insider Magazine / October 2016
accesso Slides into Australian Water Park with Village Roadshow Agreement
Wet’n’Wild Sydney Adding accesso LoQueueSM Virtual Queuing Technology
accesso Technology Group plc, the premier technology solutions provider to leisure, entertainment and cultural markets, has signed a three-year agreement with Village Roadshow Theme Parks to install the accesso LoQueue virtual queuing solution at Wet’n’Wild Sydney. This new deal will add the patented accesso LoQueue QbandSM to nine attractions in one of the country’s most visited water parks. With more than 40 slides and attractions, state-of-the-art guest experiences and world-class facilities, Wet’n’Wild Sydney is the world’s “biggest’n’best” water theme park. The system will be available to guests for their water park season starting in Late-September. Wet’n’Wild Sydney will be the second Village Roadshow venue to feature the Qband, joining Wet’n’Wild Las Vegas. “The Qband has been very popular at our Wet’n’Wild Las Vegas park and now guests at our Sydney park
will be able to get more out of their visit, spending less time in line and more time enjoying our world-class attractions,” said Dianne Rigg, General ManagerWet’n’Wild Sydney. Qband is accesso’s innovative waterproof RFID wristband that allows guests to save their spot in line for their favourite attractions using touchscreen kiosks, allowing guests to queue without physically standing in line. Guests are notified on their wristband’s countdown display when it’s their turn. “We’re thrilled to expand our relationship with Village Roadshow and excited about further extending accesso’s presence in Australia,” said Steve Brown, accesso CEO. “This agreement reinforces Village Roadshow’s trust in our solution and the opportunity we have to make a sizeable impact on their guest experience.”
Cambodia-Apn Co-Finance Partnership to Benefit Researchers in the Region
The Ministry of Environment of the Kingdom of Cambodia and the Asia-Pacific Network for Global Change Research (APN) entered into a co-finance partnership, which will increase Cambodian researchers’ access to financial resources and create opportunities for regional collaboration among members of the global change research community. Under the new partnership, the Kingdom of Cambodia, through its Ministry of Environment, will provide co-funding for approved APN projects that are proposed by Cambodian researchers. Besides the extra resources and a higher level of policy relevance in APN’s activities, this new partnership will significantly increase Cambodia’s sense of ownership of the APN — a network of governments that promotes joint research and capacity development addressing global change in the region. This historic partnership is the first outcome of the series of institutional discussions which started in early 2014, aimed at exploring innovative and diversified co-financing options for the APN. A common line of action under the partnership has been formalised into a memorandum of understanding between the two partners, effective. “The additional resources brought in by this partnership will be translated into more opportunities for scientists and researchers across all APN member countries, in addition to benefiting Cambodia,” says Dr. Akio Takemoto, Director of the APN Secretariat. “The APN appreciates the commitment by the Kingdom of Cambodia to strengthening research and capacity building to address global environmental change, and we look forward to
a successful implementation of the co-finance partnership,” he added. H.E. Sok Keang, Adviser, Ministry of Environment, Kingdom of Cambodia, expressed his appreciation for the formation of the partnership, noting that the partnership is very important to Cambodia as it leverages the APN’s strength in funding and managing international research activities to benefit Cambodian researchers. “It is our pleasure that Cambodia is able to play a stronger role in shaping the big picture of strategic development of the APN, a network that belongs to 22 countries in the Asia-Pacific Region,” conveys Mr. Sem Sundara, Director, Department of ASEAN and International Cooperation at the Ministry of Environment, Kingdom of Cambodia and APN’s national Focal Point for Cambodia. Under the partnership, Cambodian researchers are especially encouraged to prepare and submit proposals to the APN’s 2014 Call for Application for Funding, which will support endeavours that are designed to enhance global change-related scientific capacity and research focusing on aspects of climate change adaptation. The first submission stage will close on 3 August 2014, after which selected proponents will be invited to submit detailed proposals for further review. Successful proponents from Cambodia will receive direct financial support from APN and the Ministry of Environment, Cambodia. APN is presently in talks with other member countries for creating similar co-finance partnerships that will create the synergy to promote collaborative global change research in the region. Web address: www.apn-gcr.org
APAC Insider Magazine / October 2016
Cyren Expands APAC Presence through Multi-Country Distribution Agreement with Jiransoft
Cyren has announced it signed an expanded distribution agreement with Jiransoft, a fast-growing partner that began as sole distributor of select Cyren solutions in South Korea in 2007. The new agreement enables Jiransoft to offer Cyren’s portfolio of Threat Intelligence Services throughout APAC from its offices in Seoul, Singapore and Tokyo.
information security software company in South Korea. More than 40,000 corporate customers and 3.5 million individual customers use Jiransoft’s software. In 2015, Jiransoft generated $40 million in revenue. Jiransoft has registered sustainable growth and expanded its market to Japan, Asia Pacific, Europe and other countries.
“Following several years of a successful initial partnership with Cyren, Jiransoft is pleased to build upon the relationship and greatly extend the reach of Cyren’s innovative security technologies,” said Charles Oh, president at Jiransoft. “We look forward to serving as a committed market development partner that helps Cyren grow its presence in significant markets such as South Korea, China, Taiwan and Japan.”
Jiransoft is currently number one in spam protection, mobile security, and privacy protection in South Korea. The company is currently focused on strengthening and deploying enterprise security and IT service solutions to companies worldwide. Visit www.jiransoft.com.
“APAC is an important region for Cyren’s growth,” said Tomer Egozi, vice president of Threat Intelligence Services sales at Cyren. “As we continue to invest in the region, Jiransoft offers the on-the-ground presence needed as we expand our reach and deliver our embedded solutions to customers. This expanded distribution agreement stands as a notable opportunity to harness the local expertise of a highly respected partner such as Jiransoft.” About Jiransoft Jiransoft was founded in 1994 and has grown its business for more than 20 years as a leading
About Cyren Cyren protects more than 600 million users against cyber-attacks and data breaches through its cloudbased web, email, mobile and endpoint security solutions. Relied upon by many of the world’s largest technology companies such as Dell, Google, McAfee and Microsoft, Cyren offers enterprise-focused security as a service (SecaaS) solutions as well as embedded solutions for software and security providers. Cyren’s global cloud security platform processes more than 17 billion daily transactions and uses innovative zero-day protection technology to proactively block over 130 million threats each day. Learn more at www.cyren.com.
NDMT Signs Share Exchange Agreement with MySong Industrial Co., Ltd.
NowNews Digital Media Technology Co., Ltd., a media company that provides news and multimedia platform services, is pleased to announce that the Company has entered into a share exchange agreement with MySong Industrial Co., Ltd. (“MySong”), a limited liability company formed under the laws of Taiwan and both shareholders of MySong. According to the share exchange agreement, the Company will acquire all the issued and outstanding shares of common stock of MySong in exchange for 200,000 restricted shares of common stock, par value $0.001 of the Company. The signing ceremony was held at Shangri-La’s Far Eastern Plaza Hotel in Taipei. Founded in 1979, MySong is the industry leader of Taiwan karaoke tape industry and the first to introduce Japanese karaoke products into Taiwan. Owning copyrights to more than 3000 hit pop songs, MySong can make the copyrighted songs into different formats for various software and even the unknown future high-tech software products. Through partnering with China Audio-Video Copyright Association, MySong collects music license fees from KTVs in mainland China. Wenxiao Ma, general manager of MySong points out: “As the copyright department of NDMT, MySong will enhance the cooperation with China Audio-Video Copyright Association to generate more income from copyright fees and assist the agency marketing business of various types of audio and video works.”
“New media is the current trend of the mainstream media. The mainland Chinese market is growing at extremely high speed. Protection of copyright has gained public attention, and mandatory feecharging has been gradually implemented. Under such circumstances, NDMT obtained control of production, distribution and marketing in the audio and video media industry and continued expanding its media landscape in Asia by successively incorporating audio and video production, copyright fees and marketing agent business into the company”, says Shuo-Wei Shih, CEO of NDMT. “NDMT welcomes Taiwan and international companies in the audio and video media industry to cooperate on this established platform and share the huge market.” The completion of signing this share exchange agreement marks another milestone the Company has achieved in 2016 towards its goal of becoming the most influential media company in the global Chinese market. Earlier this year, the Company has also signed a share exchange agreement with Beijing New Tong Ying Culture Media Co., Ltd. in April, and a non-binding letter of intent with Lao Development Holding Limited and Lao Construction Bank and a non-binding letter of intent with Earl International Development Sdn Bhd in June.
Fund Management Experts in Asia and Africa WINNER Asian Fund of Hedge Funds 2014
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