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Appointment of Jonathan Shelley as COO & General Counsel and key technology updates

HONG KONG SAR – Media OutReach – 21 March 2023 – 3 Capital Partners, the private investment office that allocates capital on behalf of ultra-high net worth families in Asia, today announces the appointment of Jonathan Shelley as Chief Operating Officer and General Counsel.

Based in Hong Kong, Jonathan will report to Alex Yu, Chief Executive Officer and Co-Founder of 3 Capital Partners. He will be responsible for executing the business strategy of the firm, overseeing operations and the legal and compliance functions, and streamlining systems and processes to accelerate growth across Asia. Drawing on his legal experience in alternative investment, he will also be instrumental in structuring 3 Capital Partners’ private equity investment programme.

Jonathan joins 3 Capital Partners from Allen & Overy where he specialised in private equity fund formation and investments, including in secondary transactions, based in Hong Kong. Prior to this, Jonathan worked at O’Melveny & Myers LLP for 13 years in Shanghai, London and Hong Kong, advising high profile alternative investment firms, sovereign wealth funds and other institutions.

Commenting on the hire, Alex Yu said: “We are excited to welcome Jonathan to 3 Capital Partners as we continue to grow our team and platform. Jonathan will play a critical role in our efforts to expand our business of investing with an endowment approach for our clients. Furthermore, his experience of working with some of the biggest names in the private equity industry will benefit our clients and partners.”

Jonathan Shelley commented: “Joining 3 Capital Partners represents an enormous opportunity for me at a time when Hong Kong strives to become a leading regional hub for family offices and the allocation of private wealth towards private equity continues to grow in the region. 3 Capital Partners is unique in its endowment investment approach, strong alignment with clients, and commitment to continuously reinvest in its business. I look forward to working with the team.”

3 Capital Partners has made significant investments in technology too, having implemented portfolio analytics tool Venn by Two Sigma, to provide best-in-class technology and client support functions. Venn by Two Sigma provides a leading technology platform which helps investors embrace a modern, quantitative approach to multi-asset portfolio risk and investment decision making. 3 Capital Partners will use the platform to further strengthen portfolio management capabilities, enhance the portfolio construction process and manage due diligence by unlocking information through advanced data analytics.

3 Capital Partners is the first private investment office in Asia to implement Venn by Two Sigma’s technology, a demonstration of the firm’s approach of investing in institutional-level infrastructure. 3 Capital Partners was also among the first private investment offices in Hong Kong to onboard Addepar, a leading software and data platform that is purpose-built for professional wealth, investment and asset management firms to deliver portfolio management, analytics and reporting for their clients.

Hashtag: #3CapitalPartners

The issuer is solely responsible for the content of this announcement.

About 3 Capital Partners

3 Capital Partners is a private investment office that allocates capital on behalf of ultra-high net worth families in Asia. Our objective is to deliver sustainable returns over the long term by adopting an endowment investment approach. We are a fully discretionary capital allocator offering a purpose-driven risk-based multi-asset investment strategy with a focus on alternatives. We pride ourselves on our independent advice and strong alignment of interest with the families we work with. 3 Capital Partners is headquartered in Hong Kong and regulated by the Hong Kong Securities and Futures Commission.

World on ‘Thin Ice’ as UN Climate Report Gives Stark Warning

A usually submerged section of the lake Serre-Poncon is dry in southern France, March 14, 2023. A major new United Nations report being released Monday, March 20, 2023, is expected to provide a sobering reminder that time is running out if humanity wants to avoid passing a dangerous global warming threshold. (AP Photo/Daniel Cole, File)
A usually submerged section of the lake Serre-Poncon is dry in southern France, March 14, 2023. A major new United Nations report being released Monday, March 20, 2023, is expected to provide a sobering reminder that time is running out if humanity wants to avoid passing a dangerous global warming threshold. (AP Photo/Daniel Cole, File)

BERLIN (AP) — Humanity still has a chance, close to the last, to prevent the worst of climate change’s future harms, a top United Nations panel of scientists said Monday.

Avaloq, an NEC Company: Results Show Investors Are Ready for AI in Wealth Management

Tokyo, Japan – Newsfile Corp. – 20 March 2023 – NEC Corporation (TSE: 6701) (OTC Pink: NIPNF) shares a recent survey conducted by Avaloq, an NEC Company and leading financial services provider, stating that nearly 80% of investors are comfortable with having artificial intelligence (AI) in a lead or supporting role when it comes to managing their portfolios.

The poll, conducted on 6000 retail, affluent, high-net-worth and ultra-high net worth individuals, also revealed 73% are open to receiving investment advice supported by AI, and 74% are willing to receive AI-assisted product recommendations.

From providing entertainment suggestions to facilitating navigation and shopping, AI has increasingly become the backbone of numerous services relied on daily by a tremendous amount of people. According to the survey results, AI is making significant headway in the banking industry and is currently considered a major disruptor in this field.

The ability of AI to sort vast quantities of data, automate repetitive processes and accurately identify outliers has proven particularly valuable in the back and middle offices of financial institutions. From anti-money laundering to payment fraud prevention, AI is helping financial institutions to not only streamline their workflows, but to increase service accuracy by minimizing the risk of human error.

Wealth management professionals are seeing increased AI adoption in the front and investment office, where they have traditionally been reluctant to incorporate AI in the advisory process, according to Gery Zollinger, Head of Data Science and Analytics at Avaloq. When looking into the attitudes of wealth management clients, he added, it’s clear that the time is right for AI to play a greater role in areas such as portfolio analysis or optimization.

“The main benefits of AI technology in finance are enhanced operational efficiency, increased relationship manager productivity and improved data analysis,” said Zollinger. In the following Q&A, he shares his thoughts on the present and future of AI in wealth management.

What are the current uses of AI in the front office?

Two key areas have been identified where AI is already established in the wealth management sector. The first use case is virtual assistant technology to augment the role of the relationship manager. Smart virtual assistants can support relationship managers, for example, by providing near-instant suggestions to client requests for account statements, transfers, trade proposals, etc. This works based on natural language processing (NLP) – similar to the technology behind ChatGPT. The virtual assistant analyses client-adviser communications, understands the client’s intent and suggests next best actions or relevant news items for the adviser to share. This AI support enables the relationship managers to serve a larger and more diverse client base, while ensuring quicker responses to keep clients engaged.

The second is improved client lifecycle management. Wealth managers can deploy network analytics to automate prospect mapping, while churn prediction engines can alert relationship managers when a client is at risk of leaving the firm. In our experience, these tools can enable wealth managers to increase their client acquisition rate by up to 20% while staving off client attrition.

How will AI help wealth management in the future?

Advances in NLP will help drive conversational banking – i.e. interaction with relationship managers over multiple channels – and substantially increase the productivity of bank employees. An exciting future application of this technology is the combination of NLP with a voice-to-text solution. This would enable the AI to suggest next best actions in near real time, such as generating trade ideas, to the relationship manager during client meetings or generate a summary and to-do list after the meeting has finished.

What about AI in the broader banking industry?

The biggest change on the horizon is new regulation on the use and ethics of AI. A prime example is the pending AI Act by the EU Commission, which sets out clear guidance with respect to fairness, verifiability and non-discrimination. We believe that this guidance will give decision-makers the regulatory confidence to implement value-adding AI tools to leverage their vast datasets, which will ultimately boost innovation in the financial sector. Increased client acceptance of AI is expected over time, especially as individuals become more familiar with AI-augmented tools such as ChatGPT.

Gery Zollinger
Gery Zollinger

About Gery Zollinger, Head of Data Science and Analytics at Avaloq, an NEC Company

Gery Zollinger leads the team behind the Avaloq Insight product line, which is designed to embed data analytics and artificial intelligence in wealth management. Gery joined Avaloq in February 2019 from Credit Suisse, in the global Credit Risk Analytics team, where he was responsible for credit risk modelling within the Private Banking and Investment Banking divisions. Gery has worked in analytics and quantitative modelling for more than ten years. He holds a master’s degree in economics from the University of Lausanne.

About Avaloq

Avaloq is a premium provider of front-to-back software and services for 160 financial institutions around the world. Avaloq’s clients include private banks, wealth managers and investment managers, as well as retail and neo banks. Avaloq develops software that can be deployed flexibly through cloud-based Software as a Service (SaaS) or on-premises, and the Company offers Banking Operations outsourcing through its Business Process as a Service (BPaaS) model. Avaloq is a subsidiary of NEC Corporation, a global leader in the integration of IT and network technologies. www.avaloq.com

About NEC

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.

Press Contact

If you are a member of the press and would like to feature Avaloq or speak to an Avaloq representative, please contact press@avaloq.com.

The issuer is solely responsible for the content of this announcement.

First Phosphate Obtains High Purity 40.2% Apatite Concentrate in Metallurgical Testwork Based on Lac à L’Orignal Property in Quebec, Canada

Saguenay, Quebec – Newsfile Corp. – 20 March 2023 – First Phosphate Corp. (CSE: PHOS) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that it has obtained Metallurgical Testwork results on mineralization sourced from its Lac à l’Orignal Property in the region of Saguenay-Lac-St-Jean, Quebec, Canada. The testwork was completed by an independent laboratory, SGS Canada Inc., Quebec City, Quebec, and dated March 13, 2023. The full report is available at: https://firstphosphate.com/projects/assets.

The results from the batch and locked cycle tests were used to prepare an overall mass balance for the proposed flowsheet. The overall mass balance showed that the flowsheet could recover 91.4% of the apatite to a concentrate containing 40.2% P2O5.

Preliminary upgrading testwork on the ilmenite and magnetite streams achieved an ilmenite concentrate grading 39.3% TiO2 and a magnetite concentrate grading 69.0% Fe (99.2% Fe2O3). Further testwork is recommended to optimize the ilmenite circuit.

“We are pleased with the results of our high purity apatite recovery which has the potential to allow us to create a large amount of purified phosphoric acid for the production of LFP batteries,” says First Phosphate President, Peter Kent. “Our secondary recovery of ilmenite is equally important in that its upgrading may allow us to create the iron sulphate required as another important ingredient in the production of LFP batteries. The magnetite remains a potential tertiary recovery of value. We are now able to proceed towards a beneficiation pilot plant ahead of schedule.”

The metallurgical testwork program was undertaken on a composite of 75 fluoroapatite half drill cores from the Lac à l’Orignal Deposit with the objective of recovering and upgrading the apatite (removing silicates, ilmenite, magnetite, etc.) to produce high grade concentrate feed for phosphoric acid production to be used in the production of LFP cathode active material. The composite sample had a head grade of 5.55% P2O5.

Qualified Person

The scientific and technical disclosure for First Phosphate included in this news release have been reviewed and approved by D. Grant Feasby, P.Eng. of P&E Mining Consultants Inc. Mr. Feasby is a metallurgist and a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”).

About First Phosphate Corp.

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of total land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate concentrate devoid of high levels of deleterious elements.

For additional information, please contact:

Peter Kent, President
peter@firstphosphate.com
Tel: +1 (647) 707-1943

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate/

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company’s commitment to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s plans to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s proposed development of its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the availability of the metallurgical testwork report on the Company’s website; the estimated recovery rates contained in the report and the potential of such recovery rates in allowing the Company to create a large amount of purified phosphoric acid and iron sulphate, both used in the production of LFP batteries; the potential recovery of magnetite as a potential tertiary recovery of value; and the Company’s plans, if any, to expand or carryout its metallurgical programs.

Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company’s ability to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s ability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s ability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the ability of the Company to provide the metallurgical testwork report on the Company’s website; the Company’s ability to meet and exceed the stated recovery rates to allow the Company to create a large amount of purified phosphoric acid and iron sulphate; the Company’s ability to carry out its recovery of magnetite as a tertiary recovery of value; and the Company’s ability to accomplish its plans, if any, with respect to its metallurgical programs or the expansion thereof.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to produce high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s inability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s inability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the inability of the Company to provide the metallurgical testwork report on the Company’s website; the Company’s inability to meet and exceed the stated recovery rates to allow the Company to create a large amount of purified phosphoric acid and iron sulphate; the Company’s inability to carry out its recovery of magnetite as a tertiary recovery of value; and the Company’s inability to accomplish its plans, if any, with respect to its metallurgical programs or the expansion thereof.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The issuer is solely responsible for the content of this announcement.

Fosun’s Businesses Show an Upward Trend, Nomura Reiterates its “Overweight” Rating

HONG KONG SAR – Media OutReach – 20 March 2023 – On 19 March 2023, Nomura Orient International Securities (“Nomura”) published a research report, stating that with the strategy of focusing on core businesses, Fosun International Limited’s (“Fosun International” or the “Company”) (stock code: 00656.HK) operations have continued to improve. In the future, Fosun will focus on core businesses, innovation, and globalization. Nomura believes that with strong strategic determination, Fosun’s business recovery is just around the corner, thus maintaining “overweight” rating on Fosun International, with a target price of HK$9.20.

Nomura pointed out that Fosun recently announced it has formally signed an agreement with Shagang Group on the transfer of 60% of the equity of Nanjing Nangang Iron & Steel United, and the overall transaction plan is progressing smoothly. Nomura believes that focusing on its core businesses and streamlining the organization is still the main strategic direction of Fosun International. Nomura also believes that Fosun’s accelerated disposal of non-core businesses, consolidated capital buffer, active approach to adjust business structure, and focus on core businesses with high growth potential in the household consumption sector will enable the Company to achieve more valuable growth. At the same time, as Fosun continues to implement the strategy, Nomura believes that concerns regarding the Company’s leverage ratio and liquidity will subside, and Fosun’s fundamental operations are on an upward trend.

In addition, Nomura expressed optimism about Fosun’s globalization strategy, and believes that Fosun International has formed solid globalization capability, which allows the Company to leverage its global business presence to gather resources around the world for customers worldwide. In terms of innovation, Fosun has always maintained a high investment in R&D, building a global innovation system led by product innovation, digital intelligence innovation, and management innovation, and leading the upgrade of family happiness with innovation.

On 17 and 18 March, Guo Guangchang, Chairman of Fosun International, attended the 23rd Annual Conference of Yabuli China Entrepreneurs Forum 2023, and the 6th Shanghai Forum Themed Zhejiang Entrepreneurs in the World & the 11th Member Representative Conference of ZCCS (Zhejiang Chamber of Commerce in Shanghai) hosted by the ZCCS, respectively. Guo Guangchang pointed out in his speech that for the future development, Fosun will first focus on innovation and R&D investment, especially in biopharmaceuticals. Secondly, Fosun will step up its efforts to improve global innovation capabilities and operational capabilities. Fosun has full confidence in its overall development goals for this year.

Guo Guangchang said that since the beginning of this year, he has truly felt the rapid recovery of consumption, offline consumption in particular. In fact, Fosun’s various businesses demonstrated optimistic performance in both domestic and overseas markets: Yuyuan Garden Lantern Festival became an Internet sensation this year and attracted more than 4 million visitors. The recovery of the tourism industry is even more evident, the occupancy rate of Atlantis Sanya under Fosun Tourism Group (FTG) has exceeded 90% since mid-January and has exceeded 99% during Chinese New Year. In terms of overseas markets, Club Med posted the highest single-month business volume in its history of more than 70 years since its establishment.

The robust recovery and steady development of various businesses conveyed a positive signal of Fosun’s development momentum. Fosun will continue to focus on innovation, adhere to global operations, and continue to achieve steady development this year.

Hashtag: #Fosun

The issuer is solely responsible for the content of this announcement.

First, Largest Youth-Led Economic Forum Takes Place in Southeast Asia

First Youth-Led Economic Forum in Southeast Asia Building Cooperation for a Sustainable Future
A group photo with all the delegates and VIP guests

The ASEAN Youth Organization has organized the first and largest youth economic forum, called the ASEAN Youth Economic Forum (AYEF) 2023 with the theme of “Building A More Inclusive Youth Participation in ASEAN-Japan Friendship” to celebrate the commemoration of the 50th ASEAN-Japan Relationship Anniversary.

Thailand Dissolves Parliament Ahead Of May Election

Thailand Dissolves Parliament Ahead Of May Election
Thai PM Prayuth Chan-ocha's main opponent will be his predecessor Thaksin Shinawatra's daughter Paetongtarn ( Photo : REUTERS )

King Maha Vajiralongkorn of Thailand has sanctioned the dissolution of the country’s House of Representatives, effectively launching the campaign season ahead of the forthcoming May elections.

Top 10 Largest Spiders in the World- The Biggest is in Laos!

Close-up female of Spider Tarantula in threatening position. ( Photo: iStock).
Close-up female of Spider Tarantula in threatening position. ( Photo: iStock).

Decorations of realistic spiders or webs hanging from the ceiling make the house feel spookier on Halloween, but the spiders on this list will surprise you with their giant body sizes and unique characteristics. Hopefully, they don’t creep up behind you!