SINGAPORE – Media OutReach Newswire – 2 September 2024 – Ontech Group, a global leader in electromagnetic field sensor technology, today announced a significant breakthrough with the launch of a new family of 128-channel Application-Specific Integrated Circuits (ASICs), designed to significantly enhance the technical capabilities and commercial benefits of its revolutionary Controlled Electromagnetic Field (CEMF) sensor.
Designed to meet market demands in growth industries such as health technology, wearable devices, and personal computing, the new ASICs deliver unprecedented precision and flexibility. Featuring enhanced resolution, reliability, and accuracy, the new ASICs also provide a larger sensing area per chip and a smaller form to simplify integration.
These advancements enable CEMF sensors to offer up to double the resolution and accuracy in a wider range of devices and applications, when compared to the leading short-range sensor technologies in this segment.
“The requests for new ways to overcome existing sensor limitations was the key driver in developing this new family of ASICs,” said Dr. Juan Aponte, CTO and co-founder of Ontech. “Our customers need to meet surging demand for features like high-resolution and high precision 3D physicality sensing, low power consumption and easier integration. We have transformed our CEMF sensor technology to empower innovations that could redefine sectors such as health technology and personal electronics.”
Expanding Market Applications
Ontech’s new 128-channel ASIC builds on CEMF’s abilities to simultaneously detect, track, map, and measure both external and internal features. It significantly boosts the existing commercial benefits of CEMF in a wide array of industries, including health technology, consumer electronics, robotics, wearables, power tools and IoT/ IIoT.
Ontech has secured confidential collaborations with leading consumer, industrial, and technology companies to use the new ASICs. These partnerships pave the way for a leap forward in human-machine interaction.
“We are excited to see how our customers will leverage these chips to create innovative solutions that will shape the future of human-machine interaction.” said Martin Wikstroem, CEO and co-founder of Ontech. “One customer is creating a novel gesture-controlled personal device that demands spatial sensing in high-definition at very close range, works in any light, through obstructions, and complies with strict biometric privacy rules.”
Specifications
The new 128-channel ASIC family builds on the high standards set by Ontech’s previous 32 channel ASIC. Improved capabilities of the 128-channel family include a compact 1.5 mm2 form factor, HV-CMOS technology with 0.13μm, voltage up to 3.3V, flexible scan sequences of up to 32 steps, and an acquisition frequency of up to 2GHz. Additionally, peripheral blocks such as LDOs, clocks, and references have been integrated to minimise the PCB space required for customers to incorporate the CEMF sensor, while the new ASIC core itself is designed for a high degree of application-specific customisation.
The issuer is solely responsible for the content of this announcement.
About Ontech
Ontech Group is the pioneer of Controlled Electromagnetic Field (CEMF) sensing, a unique technology that revolutionises interactions between humans, machines, and technology. With offices and R&D centres worldwide, Ontech is a leader in electromagnetic field technology and a disruptor in near-field detection. Our mission is to empower the world’s most innovative leaders and engineers to create safer, more functional, and energy-efficient technologies. Protected by over 100 international patents, Ontech’s proprietary CEMF sensors drive change across multiple industries, including health tech, automotive, consumer devices, and more.
KUALA LUMPUR, MALAYSIA – Media Outreach Newswire – 2 September 2024 – Malaysia’s leading independent investment bank, Kenanga Investment Bank Berhad (“Kenanga Group” or the “Group”) announced that it has partnered with leading Singaporean fintech firm Helicap Pte Ltd (“Helicap”) in a move to further advance its digitalisation initiatives.
The signing ceremony was witnessed by Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank (standing), along with other key representatives. From left: Cheong Boon Kak, Group Chief Financial & Operations Officer, Kenanga Investment Bank Berhad; Datuk Wira Ismitz Matthew De Alwis, Executive Director & Chief Executive Officer, Kenanga Investors Berhad; David Z Wang, Co-Founder & Chief Executive Officer, Helicap Securities; Quentin Vanoekel, Co-Founder & Chief Investment Officer, Helicap Investments; and Jeremy Tan, Co-Founder & Group Chief Operating Officer.
As part of this partnership, Kenanga Group, through a fund managed by its asset and wealth management arm, Kenanga Investors Berhad (“Kenanga Investors”), has collectively taken a stake of 8% (“the Investment”) in Helicap. The Investment forms Helicap’s Series B funding round, which sees Kenanga Group as lead investor alongside Saison Capital Pte Ltd, the corporate venture capital arm of Credit Saison, one of Japan’s largest non-bank financial companies that is listed on the Tokyo Stock Exchange. Subsequently, Kenanga Group’s stake will be further increased in the near future to approximately 10%, making Kenanga Group the largest institutional investor in Helicap.
Helicap, one of the first fintech private investment platforms specialising in the alternative lending space in Southeast Asia (“SEA”), has built its success on a foundation of innovation and technology. Central to its competitive edge is its proprietary credit analytics engine, which stands as the company’s strongest asset.
According to Kenanga Group’s Managing Director, Datuk Chay Wai Leong, the Group distinguishes itself from its peers by leveraging digital technology to elevate its service and solution offerings. “By focusing on digital innovation, we have provided multiple touchpoints to enable our clients to engage with our services more efficiently and effectively. Therefore, our investment into Helicap is a natural progression in our digitalisation journey, as Helicap’s proprietary technology can potentially be embedded into Kenanga’s own lending and investment banking business seamlessly to provide greater loan book transparency and analysis, portfolio and credit risk monitoring and granular-level data to identify nascent opportunities and obtain microeconomic insights”, he explained.
This Investment builds upon Kenanga Group’s broader digitalisation initiatives, following its successful investments into Rakuten, CapBay, Tokenize Malaysia and Merchantrade. These partnerships reflect the Group’s commitment to collaborating with best-of-breed fintech companies that are pioneers in their fields. By deploying first-in-class digital technologies, it aims to continue to enhance its business activities, access new markets, and explore new segments.
The Investment follows the launch of Kenanga Investors’ latest product suite, the Kenanga Alternative Series, which was marked by the introduction of the Kenanga Alternative Series: Income Opportunities Fund in July 2024. It feeds into the Helicap Income Opportunities Fund, an open-ended Asian private credit fund.
Kenanga Investors’ Executive Director and Chief Executive Officer, Datuk Wira Ismitz Matthew De Alwis commented on the expanded relationship with Helicap, stating, “Our enhanced partnership with Helicap will enable us to tap into its global network as a source of offshore capital as well as to facilitate deal co-origination and syndication efforts in both Singapore and Malaysia. Ultimately, we believe this will provide a strategic base for Kenanga Group to build further cross-border collaborative partnerships and capitalise on the dynamic growth in the region, as well as the rising income and affluence among South-East Asian investors”.
From the fintech firm’s perspective, such a collaboration would seamlessly integrate Helicap’s strengths in private credit with Kenanga Group’s brand recognition and operational capabilities, creating a state-of-the-art private credit business. David Z Wang, Co-founder & CEO of Helicap Securities, stated, “We are thrilled to announce our partnership with Kenanga Group, a pivotal step in bringing Helicap’s investment opportunities to the Malaysian market. This collaboration represents a significant milestone as we unite Kenanga’s robust local market presence and billions in assets with an extensive client base with Helicap’s powerful, sector-agnostic, data-driven platform and proprietary analytics technology. As a leader in Asia’s private credit space, Helicap is poised to drive meaningful growth in Malaysia. Our commitment to financial inclusion and innovative investment solutions remains unwavering, as we continue to address the dynamic needs of investors and lenders alike.”
Since its establishment in 2018, Helicap, through its regulated subsidiaries, has deployed almost S$500 million, offering investment opportunities in Southeast Asia to accredited and institutional investors. As a leading platform operator in Southeast Asia, it has strategically focused its investments primarily on financial companies, leveraging its unique credit screening system and enhanced loan structure to deliver stable and consistent returns.
For more information about Kenanga Group, please visit www.kenanga.com.my.
Hashtag: #Kenanga
The issuer is solely responsible for the content of this announcement.
Kenanga Investment Bank Berhad 197301002193 (15678-H)
Established for over 50 years, Kenanga Investment Bank Berhad (“The Group”) is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing. An innovative and established home-grown brand, the Group’s digital ambition includes building a robust digital ecosystem that meets the needs of its clients and businesses. Some of its game-changing products include Malaysia’s fully online digital stockbroking platform Rakuten Trade and a fully A.I. robo-advisor, Kenanga Digital Investing. The Group also launched Malaysia’s first securities broking e-wallet, Kenanga Money, paved the way in AI-led Quan and algorithmic trading, kick-started a revolutionary supply chain financing solution for SMEs and made inroads into the digital assets space through its investment in Tokenize Technology (M) Sdn.Bhd. The Group has garnered a host of awards and accolades reflecting its strong market position. It was awarded Highest Returns to Shareholder Over Three Years, Highest Growth in Profit After Tax Over Three Years and Highest Return on Equity Over Three Years by The Edge Malaysia Centurion Club in the Financial Services Category, Best Overall Equities Participating Organisation (Champion), Best Retail Equities Participating Organisation (Champion), and Best Online Retail Participating Organisation (Champion), as well as Best Institutional Derivatives Trading Participant (Champion) and Best Overall Derivatives Trading Participant (1st Runner Up) in the Bursa Excellence Awards 2022. The Group was also accorded the title of Best House, South and Southeast Asia Award in the SRP Asia Pacific Awards 2022.
The Group continues to be a regular and repeat recipient of distinguished industry accolades, such as the Lipper, Fundsupermart and Morningstar awards. Rakuten Trade, Malaysia’s first fully digital securities broker in 2017 via a joint venture with Japanese fintech giant Rakuten Securities Inc was also named Malaysia’s Digital Experience of the Year – Brokerage at the Asian Experience Awards 2022. For its continued efforts towards community outreach and employee volunteerism, the Group was awarded the coveted Bank of the Year Award for Environmental, Social & Governance Excellence, as well as Long-Standing Excellence in Sustainability at Sustainability & CSR Malaysia Awards 2022. The Group is also a Participant of the United Nations Global Compact and adheres to its principle-based approach to responsible business. Today, Kenanga Investment Bank Berhad is an award-winning leading independent investment bank in the country with a continuous commitment towards driving collaboration, innovation, digitalisation and sustainability in the marketplace.
This strategic acquisition will enhance geographic expansion and strengthen distribution capabilities and networks.
SINGAPORE – Media OutReach Newswire – 2 September 2024 – Diversified industrial conglomerate Jebsen & Jessen Group today announces the acquisition of MSM Group, a Mongolia-based company headquartered in Ulaanbaatar, thereby establishing a market leading position in the fast growing market of Mongolia.
Per Magnusson, CEO of Jebsen & Jessen Group and Mark Gabel, CEO of MSM Group.
As one of the leading conglomerates in Mongolia, MSM Group spans multiple sectors including industrial equipment, chemical, automotive, beverage and agricultural equipment distribution. Since 1998, MSM Group has been playing a pivotal role in introducing premium international brands to the Mongolian market, and remains the sole distributor and partner for more than 50 of these brands in the country today. With over 650 employees, MSM Group operates showrooms, workshops, warehousing facilities and sales outlets in the central area of the capital city Ulaanbaatar, as well as South Gobi and other areas of Mongolia.
This acquisition brings together the technological know-how and strength of two family businesses serving complementary markets. Jebsen & Jessen Group has had a long-standing relationship with MSM Group, with MSM Group serving as a distributor of Jebsen & Jessen Group’s industrial products in Mongolia for over a decade.
Expanded market reach and capabilities
MSM Group is Jebsen & Jessen Group’s third acquisition in six months following that of GMA Garnet and Safetech, and marks its further expansion into new markets beyond its stronghold in South East Asia this year. With the entry into Mongolia, Jebsen & Jessen Group is poised to extend its reach and capitalise on new opportunities in a rapidly growing market.
“We are delighted to be welcoming MSM Group as part of the Jebsen & Jessen family. The acquisition is a strategic move that aligns with the goal of expanding our global footprint, and enhancing our industrial and distribution capabilities,” said Jebsen & Jessen Group CEO Per Magnusson. “MSM Group’s leading market position in Mongolia, its strong management team and workforce, and its diverse businesses will be a valuable addition to our portfolio. We will benefit from the synergies that we can now leverage across these activities.”
Synergies for growth
For MSM Group, this acquisition facilitates access to the extensive resources and expertise of Jebsen & Jessen Group, offering new avenues for growth and development. Further, the history of the two family businesses with a shared commitment to long-term growth and community impact makes this an attractive union. The alignment of common values — rooted in trust, heritage and a deep understanding of the markets — creates a strong foundation for a successful, sustainable partnership.
MSM Group will become the seventh business unit within Jebsen & Jessen Group. The founders of MSM Group, Laurenz Melchers and David Reiner, will remain minority shareholders alongside CEO Mark Gabel. MSM Group will continue to operate under its current company name and leadership, and maintain its commercial presence with all operations and business proceeding as usual.
“Having known Heinrich Jessen, Chairman of Jebsen & Jessen Group for many years, both in a professional and personal capacity, both David and I are assured that this is the right step and Jebsen & Jessen Group is the perfect partner to entrust the future of MSM Group and its employees for the many years to come,” said Chairman of MSM Group Laurenz Melchers.
“MSM Group has enjoyed strong growth over several decades to become the market leading company it is today. Joining Jebsen & Jessen Group provides us with the potential to scale our operations to levels we have never achieved before. These are exciting times for our teams and the brands we represent,” said MSM Group CEO Mark Gabel. Hashtag: #Jebsen&JessenGroup
The issuer is solely responsible for the content of this announcement.
Jebsen & Jessen Group
Part of a global family enterprise that dates back to a trading partnership formed in Hong Kong in 1895, Jebsen & Jessen Group headquartered in Singapore is today an industrial conglomerate with a diverse network of businesses spanning manufacturing, engineering, mining and distribution activities. Core businesses include cable technology, garnet, ingredients, life sciences, packaging and other industrial technology, across more than 15 countries in five continents. Over 4,000 colleagues work as one to develop meaningful products and services for the myriad customers served.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 2 September 2024– The influence of presidential elections on financial markets is often temporary. Still, the psychological effect of elections on traders and investors can cause emotional and illogical behaviour, contributing to increased market swings. Apart from the White House, the Senate is also up for grabs this fall, and the balance of power inside the legislative branch could be just as important. To mitigate potential losses, investors should refrain from purchasing risky assets during periods of election-related uncertainty. The sheer fact that presidential elections are taking place in a deeply divided yet highly important country is already having a bullish impact on gold prices.
When it comes to quick money-making on the financial markets, retail traders often disregard political events. Instead, they prefer to focus on regular macroeconomic releases, such as scheduled Consumer Price Index (CPI) readings or Nonfarm Payrolls (NFP) reports. However, politics and economics often go together. And if there is one political event that traders cannot afford to overlook this year, it is certainly the U.S. presidential elections, which are set to be held on Tuesday, November 5, 2024. This pivotal event doesn’t just influence American citizens—it has a significant ripple effect on global financial markets. From Wall Street to the commodities markets, the implications of the U.S. presidential election could be profound and far-reaching.
The candidates American voters will choose between Kamala Harris, the Democratic nominee, and former President Donald Trump, the Republican nominee.
Kamala Harris aligns closely with the current president, Joe Biden, especially on domestic policies. She is backing national abortion protections, LGBT+ rights, and significant fiscal stimulus measures, such as student debt relief. She is also a staunch advocate of new legislation to address climate change and wants to move the U.S. economy toward cleaner energy sources. As a presidential candidate, she introduced a staggering $10 trillion climate plan, greatly surpassing Biden’s $1.6 trillion initiatives. In addition, Harris also advocated for a ‘climate pollution fee’ and proposed the elimination of federal subsidies for fossil fuels. Although Harris launched her political career in Silicon Valley, she is now calling for regulations to address the dangers of artificial intelligence (AI) and enhance data privacy rules. Her record on trade policies suggests that she is somewhat sceptical of free trade. ‘There would be no trade deal that would be signed unless it protected American workers and it protected our environment,’ she was quoted as saying at one point.
Donald Trump’s previous administration was characterised by tax cuts, deregulation, and a focus on trade policies. During the 2024 campaign, Trump has repeated his intention to cut red tape, reduce government spending, and bring inflation down. He intends to lift the restrictions on fossil fuel production and cancel the electric vehicle mandate. Additionally, Trump seems to be leaning towards protectionism as he has explicitly promised to ‘stop outsourcing and turn the United States into a manufacturing superpower’. Domestically, one of his most radical proposals is to deport millions of illegal immigrants and seal the border. As for the tech sphere, the Republicans aim to put an end to what they describe as Democrats’ overreach in regulating cryptocurrencies. They vow to defend the rights of Americans to mine Bitcoin (BTC) and manage their digital assets independently. Additionally, they promise freedom from government surveillance and control of digital transactions. They also plan to overturn President Biden’s executive order on AI, which they believe hinders innovation.
Implications for the markets Before discussing the potential implications of the U.S. presidential elections on the financial market, there is one important caveat to make—U.S. presidents are not omnipotent. The U.S. is a sprawling nation with numerous institutions, a developed political framework, and a complex system of checks and balances. No president can single-handedly steer the entire country in one direction. For instance, if Kamala Harris becomes president but the Senate remains Republican-controlled, she would face significant hurdles in pushing through her initiatives. Likewise, with a Democrat-controlled Senate, President Trump might find his policies completely stalled. Therefore, while the executive branch of government is undeniably significant, its power has limits and should not be overstated. In this regard, it is worth remembering that in addition to the high-stakes presidential race, this fall’s ballot also includes one-third of the U.S. Senate seats (presently held by a slim Democratic majority) and all 435 seats in the House of Representatives (where Republicans hold a slight edge).
It’s also important to note that the impact of presidential elections on financial markets can be short-lived. While there may be immediate reactions to the election results, markets often stabilise as the new administration’s policies become clearer. For example, after the initial pre-election decline in 2016, the stock market then continued to rise as the Trump administration implemented its economic agenda. Similarly, gold prices and the dollar often return to their pre-election trends once the uncertainty dissipates and investors gain more clarity on future policies.
U.S.Stocks Kar Yong Ang, an Octa analyst, comments: ‘Obviously, investors will react to the perceived economic agendas of the candidates, leading to fluctuations in stock prices, but right now they are more focused on corporate earnings and potential interest rate cuts by the Federal Reserve (Fed)’.
Still, the U.S. presidential candidates focus on different agendas, and some sectors of the U.S. economy may perform better depending on who wins the election. Judging solely by their platforms, it seems reasonable to infer that under Donald Trump, the following broad sectors may perform well:
Energy companies (particularly those involved in fossil fuel production)
Industrials and manufacturing companies (such as General Electric and 3M)
Pharmaceutical and biotech companies (Pfizer, Johnson & Johnson, and Moderna)
Tech companies (particularly those not heavily reliant on international supply chains)
Conversely, if Kamala Harris were to win, the following sectors may do well:
Companies in the renewable energy sector
Companies with strong diversity and inclusion initiatives
Infrastructure companies
Healthcare companies (particularly those focused on expanding access to healthcare services)
Still, making a bet on any particular sector is too risky. While assuming that energy companies will do better under Trump than Harris may seem logical, nothing is guaranteed. If oil prices were to fall sharply, energy companies would underperform irrespective of who is the president. Kar Yong Ang, an Octa analyst, cautions potential investors: ‘Our outlook for this or that sector of the economy rests on the assumption that everything goes smoothly and according to plan. However, if the election results are delayed or contested, it would be best to stay away from any risk assets until the situation stabilises.’
U.S. Dollar Neither of the candidates has provided specific details about how they intend to tackle the huge debt that the U.S. has accumulated over the past years. Harris’ ambitious spending plans on infrastructure and the environment may potentially undermine the U.S. fiscal position and lead to a weaker dollar. At the same time, Trump has explicitly stated that he wants to preserve the U.S. dollar as the world’s reserve currency. However, his leaning toward protectionism might hurt global trade and encourage other countries to look for alternatives to the U.S. dollar.
If Kamala Harris wins
A Harris administration might prioritise increased government spending on social programs, healthcare, and infrastructure. While such spending could stimulate economic growth, it could also lead to larger budget deficits, necessitating increased borrowing and possibly putting downward pressure on the dollar.
If Harris were to implement higher taxes on corporations and the wealthy and introduce new regulations, it could lead to reduced corporate profits and potentially slower economic growth. This might weaken investor confidence in the U.S. economy, leading to a dollar depreciation as investors seek higher returns elsewhere.
Generally speaking, the market views Harris’ victory as bearish for the U.S. dollar.
If Donald Trump wins
During his previous administration, Trump implemented tariffs and renegotiated trade deals, which had mixed effects on the dollar. A renewed focus on protectionist policies could strengthen the dollar in the short term due to reduced imports and a lower trade deficit. However, if global trade tensions escalate, it could also lead to long-term depreciation.
Trump’s approach to fiscal policy has typically involved tax cuts, which can lead to higher budget deficits. While tax cuts might initially boost economic growth and support the dollar, sustained deficits could eventually undermine confidence in the U.S. fiscal position, leading to a weaker dollar over time.
Monetary policy interactions are another critical aspect. ‘Trump has explicitly stated that he wants presidents to have a role in setting borrowing costs. It is quite a radical proposal by modern standards, the effects of which are very difficult to estimate’, said Kar Yong Ang, Octa analyst.
Generally speaking, the market views Trump’s victory as bullish for the U.S. dollar—particularly, in the short term. The longer-term outlook, however, is less certain.
Gold
If Kamala Harris wins A Harris victory might be perceived as a shift towards more progressive policies, which could include increased regulation and higher corporate taxes. These changes could create volatility in the stock market, leading investors to flock to gold as a more stable investment.
Additionally, if Harris’s policies lead to a weaker U.S. dollar, this could further boost gold prices. Gold is typically inversely related to the dollar: when the dollar weakens, gold prices usually rise.
If Donald Trump wins
One potential outcome of Trump’s victory is that it could lead to increased geopolitical tensions and trade uncertainties. During his previous term, Trump’s administration engaged in trade wars, particularly with China, which created economic uncertainty. Because gold is considered to be a safe-haven asset during times of geopolitical instability, heightened tensions could drive investors to flock to gold, pushing its price higher.
Additionally, Trump’s stance on monetary policy could influence gold prices. If his administration were to pressure the Fed to maintain low interest rates or engage in further monetary easing, this could weaken the U.S. dollar. A weaker dollar typically makes gold cheaper for foreign investors, increasing demand and potentially driving up the price of gold.
Gold is poised to shine
Kar Yong Ang, Octa analyst, puts it this way: ‘It is not so much the policies of the actual candidates that are bullish for gold; it is the sheer fact that the elections are taking place that is bullish. Emotions run high, and most polls put Harris and Trump neck and neck in the presidential race. I think that the overall impact on gold prices would depend on the candidates’ preparedness and willingness to concede defeat and avoid wider confrontation’.
Indeed, many political analysts have noted that American society has become increasingly polarised over the past years. Consequently, an indecisive victory for either candidate could ignite widespread discontent among their opponents, potentially leading to large-scale protests. Under these circumstances, gold will certainly shine. Conversely, if the election outcome leads to market confidence and stability, the demand for gold might dip as investors move their money back into equities and other assets perceived as having higher returns. Hashtag: #Octa
The issuer is solely responsible for the content of this announcement.
Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.
This strategic sale will enhance Jebsen & Jessen’s geographic expansion, strengthen its distribution capabilities and networks while securing MSM’s long term growth and future development in Mongolia.
ULAANBAATAR, MONGOLIA/SINGAPORE – Media OutReach Newswire – 2 September 2024 – Diversified Industrial, Automotive, Chemical, Agricultural and Beverage Conglomerate, MSM Group today announces the sale of a majority stake to Jebsen & Jessen Group thereby securing a continuously growing future for the company and its employees.
As one of the leading conglomerates in Mongolia, MSM Group spans multiple sectors and since 1998, has been playing a pivotal role in introducing premium international brands to the Mongolian market; it remains the sole distributor and partner for more than 50 of these brands in the country today. With over 650 employees, MSM Group operates showrooms, workshops, warehousing facilities and sales outlets in the central area of the capital city Ulaanbaatar, as well as South Gobi and other areas of Mongolia.
Founders and primary shareholders Laurenz Melchers and David Reiner, along with their equity partner Mongolian Opportunities Fund, are excited with this announcement.
This acquisition brings together the technological know-how and strength of two family businesses serving complementary markets. Both groups are no stranger to each other, sharing not only historical family business connections, but also distribution agreements with MSM having served as a distributor of Jebsen & Jessen Group’s industrial products in Mongolia for over a decade.
Securing a strong future for MSM and its employees
For nearly 30 years, the Founders built a future for MSM by funding its expansion with continuous re-investments into the fast-paced growth opportunities of Mongolia. They are thankful to the loyal partners who, for many years, entrusted MSM with the promotion of their cherished brands and express their full gratitude and continuous commitment towards Mongolia, their clients, the business and, especially, its employees.
As such, in preparation for this day, the Founders ensured that an exceptional management team was set-up and given the opportunity to independently run the day-to-day management of the business with great success.
In order to guarantee that MSM continued to thrive for many decades to come, they made the difficult decision to search for a family business with shared values and long-term history but also the capital strength and international presence, to take over the reins at MSM.
It has taken some time to find the right partner and it is therefore a sad and a happy moment for the two Founders to make this announcement but they are comfortable with the notion that MSM’s future is in good hands; especially since they will remain as shareholders in MSM and will also be growing their other business interests in Ulaanbaatar, thus staying loyal to Mongolia for many years to come.
“Having known Heinrich Jessen, Chairman of Jebsen & Jessen for many years, both in a professional and personal capacity, both David and I are assured that this is the right step and the perfect group to entrust the future of our beloved MSM and its employees for the many years to come” said Laurenz Melchers Chairman of MSM Group.
In addition, both MSM Founders and Jebsen & Jessen Group want to welcome Mark Gabel to the new shareholding structure of MSM; Mark will remain CEO of MSM and they know he will take full advantage of all the synergies and opportunities that the Jebsen & Jessen Group can provide to continue to successfully grow MSM for the years ahead.
The transaction took effect after approval by the Mongolian authorities. LCA Solutions, a Hong Kong regulated Multi Family Office, acted as financial advisor to the Founders of MSM. WS Chong & Co in Hong Kong, Mishcon de Reya in London and Melville Erdenedalai in Ulaanbaatar acted as legal advisors for the different Founders while Herbert Smith Freehills in Hong Kong acted for Mongolian Opportunities Fund.
Expanding market reach, capabilities and synergies for growth
With this announcement, Jebsen & Jessen Group takes a market leading position in the fast-growing market of Mongolia and another step in its continuous expansion beyond its established market strongholds in South East Asia.
“We are delighted to be welcoming MSM Group as part of the Jebsen & Jessen family. The acquisition is a strategic move that aligns with the goal of expanding our global footprint, and enhancing our industrial and distribution capabilities,” said Jebsen & Jessen Group CEO Per Magnusson. “MSM Group’s leading market position in Mongolia, its strong management team and workforce, and its diverse businesses will be a valuable addition to our portfolio. We will benefit from the synergies that we can now leverage across these activities.”
For MSM Group, this acquisition facilitates access to the extensive resources and expertise of Jebsen & Jessen Group, offering new avenues for growth and development. MSM Group will become the seventh business unit within Jebsen & Jessen Group. MSM Group will continue to operate under its current company name and leadership, and maintain its commercial presence with all operations and business proceeding as usual.
“MSM Group has enjoyed strong growth over several decades to become the market leading company it is today. Joining Jebsen & Jessen Group provides us with the potential to scale our operations to levels we have never achieved before. These are exciting times for our teams and the brands we represent,” said MSM Group CEO Mark Gabel.
Hashtag: #MSMGroup
The issuer is solely responsible for the content of this announcement.
About Jebsen & Jessen Group
Part of a global family enterprise that dates back to a trading partnership formed in Hong Kong in 1895, Jebsen & Jessen Group headquartered in Singapore is today an industrial conglomerate with a diverse network of businesses spanning manufacturing, engineering, mining and distribution activities. Core businesses include cable technology, garnet, ingredients, life sciences, packaging and other industrial technology, across more than 15 countries in five continents. Over 4,000 colleagues work as one to develop meaningful products and services for the myriad customers served.
Founded in 1998, MSM Group is today, with over 650 highly professional Mongolian and foreign employees, a leader in the automotive, industrial and beverage distribution sectors. MSM/SGT is also a strategic business partner of Oyu Tolgoi, the world’s third largest copper and gold mine that is operated by Rio Tinto. MSM Group delivers premium quality consumer and industrial products and services to a wide network of customers and partners. In addition, MSM Group supports social projects and programmes in many areas such as health, environment, sustainability, arts and children’s education as part of the company’s corporate social responsibility.
CHENGDE, CHINA – Media OutReach Newswire – 2 September 2024 – Recently, Luanping County, Chengde City, north China’s Hebei Province, has used drones to transport construction materials for the first time during the protection and restoration of the Jinshanling Great Wall, which has improved construction efficiency and reduced the ecological impact on the surrounding environment. This enables the 600-year-old ancient Great Wall to continue to exude new vitality in protection and inheritance.
The Jinshanling Great Wall
At the middle section of the Jinshanling Great Wall, workers used drones to transport construction materials such as blue bricks and lime, preparing for the risk removal and reinforcement of Gaojian Tower and Xiyu Tower. According to reports, due to the precipitous terrain with steep slopes and narrow paths of the Great Wall, construction materials were traditionally transported by humans and mules, which took more than 40 minutes for a round trip. However, using drones for transportation, with a capacity of nearly 75 to 150 pounds per trip and a round trip every 3 minutes, it only takes about a dozen minutes to complete the mule transport volume once time.
The Jinshanling Great Wall is shrouded in mist
Workers stated that in the restoration work of the Jinshanling Great Wall, they adhered to the principle of “minimal intervention and restoration to its original state”, retaining old bricks that can still be used and replacing weathered face bricks with them. Additionally, they installed drainage systems to reduce the erosion of rainwater on the walls.
It is reported that this is the first time in China that drones have been used to participate in the protection of the Great Wall, which is not only fast and economical but also environmentally friendly. This drone technology will be better applied in the future protection and restoration of the Great Wall.
Jinshanling Great Wall is renowned for its unique landscape and exquisite architectural art, earning the reputation of “Jinshanling Be There, The Rest of Great Wall Nowhere”. The 10.5-kilometer Jinshanling Great Wall encompasses virtually all architectural forms of the Ming Dynasty Great Wall, making it the essence of the Great Wall and the best-preserved section of the Ming Dynasty Great Wall. Today, despite the ravages of time, it remains magnificent and breathtaking. Hashtag: #Jinshanling
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SINGAPORE – Media Outreach Newswire – 2 September 2024 – Vizzio Technologies is honoured to announce the appointment of Mr Eddie Chau, a distinguished figure in Singapore’s technology sector, to its Board of Directors.
Eddie Chau, with over three decades of notable achievements in entrepreneurship, technology, and community leadership, brings a wealth of expertise to Vizzio. As Chairman of the Singapore Standard Council’s Coordinating Committee for Cyber Security, Chau has played a pivotal role in shaping Singapore’s cybersecurity landscape.
Chau’s impressive career includes founding six startups, successfully exiting two, and serving as a mentor to numerous startups in Singapore. His commitment to community service is evident through his involvement with various non-profit organisations, including Mount Alvernia Hospital, raiSE, and One Faber Group.
Recognised as the “IT Leader of the Year 2018” by the Singapore Computer Society and inducted into its “Hall of Fame 2022,” Eddie Chau’s accolades highlight his exceptional leadership in technology.
At Vizzio Technologies, Eddie Chau’s strategic insights and extensive network will be instrumental as the company continues to drive innovation and growth in the technology sector. His experience with successful ventures such as e-Cop, Brandtology, and V-Key underscores his ability to identify and capitalise on emerging opportunities.
We extend a warm welcome to Eddie Chau and look forward to achieving new milestones with his expertise guiding our future endeavours. Hashtag: #VizzioTechnologies #AITechnology
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Vizzio Technologies
Vizzio Technologies leads the world in creating detailed 3D city models using satellite imagery and AI. We produce immersive digital twins of cities globally, integrating multi-resolution data and machine learning for real-time insights and modelling. Established in 2020, we have mapped over 1 million square kilometres of urban space, filed 34 patents, and saved 75% of time compared to traditional methods. Our goal is to deliver dimensionally accurate, photorealistic digital twins for every city on Earth, supporting a range of applications from urban planning to security.
Alarming Burden of Fragility Fractures in Hong Kong The burden of osteoporosis in Hong Kong has reached alarming levels, with a staggering 51.2% surge in fragility fractures over the past 14 years. The number of cases has skyrocketed from 5,596 in 2004 to 8,465 in 2018. Even more concerning is the 30.9% rise in the most serious type of fracture – hip fractures – which have increased from 4,002 to 5,241 cases during this period.
Prof Cheung Ching-lung, President of The Osteoporosis Society of Hong Kong and Dr Ip Tai-pang, Chairperson of The Osteoporosis Society of Hong Kong (OSHK) Guideline Task Group, are urging immediate attention to the rapidly increasing cases of osteoporosis in Hong Kong. They recommend the implementation of DXA screening across the territory to reduce the number of fractures.
These fragility fractures, which occur due to low bone density and strength, can have devastating consequences for patients. Alarmingly, recent research has found that the mortality rate of hip fractures rivals that of leading cancer killers in Hong Kong. A study from the University of Hong Kong revealed that the mortality rate of hip fractures in men is higher than the mortality rate for prostate cancer, and on par with the mortality rate for colorectal cancer. Similarly, the mortality rate of hip fracture patients in women is higher than the mortality rate for thyroid cancer and breast cancer.
Compounding the problem, fragility fracture patients face a high risk of subsequent fractures, with nearly half (49.5%) of those who sustain an initial fracture experiencing a second fracture within the first two years. This “imminent fracture” period leaves patients vulnerable to repeat, debilitating injuries in quick succession.
“The dramatic escalation in fragility fractures underscores the urgent imperative to address osteoporosis and improve overall bone health in our community,” said Professor Cheung Ching-lung, President of The Osteoporosis Society of Hong Kong (OSHK). “In response, the OSHK’s multi-disciplinary task force has issued landmark clinical guidelines that revolutionize the approach to osteoporosis management in the city. This new, evidence-based framework aims to help identify and effectively manage individuals at different level of risk of these often devastating, and sometimes deadly, fractures, empowering both medical professionals and the public to take proactive steps in tackling this major public health crisis.”
OSHK recommends DXA Screening for Early Osteoporosis Detection in Hong Kong OSHK is recommending that all Hong Kong men aged 70 and older, and all women aged 65 and older, undergo dual-energy X-ray absorptiometry (DXA) scans to screen for osteoporosis. DXA is considered the gold standard diagnostic tool for identifying osteoporosis. With such a protocol, an estimate of 5,234 hip fractures would be prevented in 10 years to reduce the devasting impact of fragility fractures on patients, their families, and the broader healthcare system in Hong Kong.
“DXA screening gives us the ability to identify osteoporosis early and take action to strengthen bones and prevent these life-altering fractures,” emphasized Dr Ip Tai-pang, Chairperson of The Osteoporosis Society of Hong Kong (OSHK) Guideline Task Group. “We’re calling on all Hong Kong residents in the recommended age groups to have this simple, painless test and have an open discussion with their doctors about optimizing their bone health.”
Landmark Guidelines Introduce Personalized Approach to Tackling Osteoporosis The new OSHK guidelines go beyond recommending universal DXA screening to promote the use of a well-structured risk stratification model. This enables healthcare providers to comprehensively evaluate each patient’s individual risk of fragility fractures. By thoroughly assessing the patient’s unique risk profile and bone density T-score, clinicians can now establish a targeted treatment plan to effectively reduce their likelihood of experiencing a debilitating fragility fracture.
The OSHK guideline outlines the following risk-based approach for systematic fracture prevention:
Risk Level
Recommendations for Medications
Low risk
Age <65 years with
T-score ≤ –2.5 and
No prior major fracture
Mild oral antiresorptive drug
High risk
Age ≥65 years with T-score ≤ –2.5 or
Prior fracture >24 months, or
FRAX 10-year probability : major osteoporotic fractures (fragility fractures) ≥20% or hip fracture ≥3%
Potent antiresorptive drug (Oral/ intravenous/ subcutaneous injection)
Very high risk
Multiple fractures, or
Major osteoporotic fractures (fragility fractures) ≤24 months, or
T-score ≤ –3.0, or
Fracture on antiresorptive therapy
Bone-forming medication
In addition, patients undergoing treatment for osteoporosis should review their treatment plan with their doctor every 1-2 years to ensure they are receiving maximum benefit. “Osteoporosis is a condition that requires long-term management,” emphasizes Dr Ip Tai-pang. “Patients should never stop taking their medications without first consulting their doctor, as abruptly discontinuing treatment can lead to rapid and dramatic loss of bone density.”
Reframing Fragility Fractures as “Bone failure” Underscores Urgent Need for Proactive Management of Devastating Complications The OSHK’s new clinical guidelines reflect a paradigm shift in how this progressive bone disease is viewed and managed. By recognizing fragility factures as a systemic “bone failure” condition, the guidelines emphasize the serious, wide-ranging complications that can occur, including spinal deformities, loss of mobility, reduced quality of life, as well as the increased risks of other serious health issues, such as cardiovascular diseases and pneumonia etc. that can stem from osteoporosis and related fractures.
“We need to strengthen public education, so that the public understands that fragility fractures are akin to bone failure,” reminded Professor Cheung Ching-lung. “This will encourage them to proactively undergo screening, and to work closely with their doctors based on their individual risk levels, to continuously monitor their condition and receive targeted management or treatment.” Hashtag: #Osteoporosis #DXA #fracture #OsteoporosisSocietyHK #BoneFailure
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About The Osteoporosis Society of Hong Kong (OSHK)
The Osteoporosis Society of Hong Kong (OSHK) is a non-profit organization dedicated to promoting bone health and preventing osteoporosis in Hong Kong. Established in 1994, the OSHK is a multi-disciplinary society comprising orthopedists, endocrinologists, rheumatologists, geriatricians, family medicine practitioners, physiotherapists, nurses, and other healthcare professionals. The OSHK works to raise awareness, provide education, and advocate for policies to address the growing burden of osteoporosis in the city.