Laos has confirmed 68 new cases of Covid-19, bringing the total number of cases to 2,537.
Singapore Asset Manager, Lighthouse Canton and CDPQ’s Ivanhoé Cambridge invest in life sciences R&D real estate
SINGAPORE – Media OutReach – 9 July 2021 – In a landmark transaction in South Asia, Ivanhoé Cambridge, a global real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers, and Singapore based asset management firm, Lighthouse Canton (the existing asset manager with a track record of managing the portfolio), have announced their investment in a 0.85M sq.ft life science R&D office-labs portfolio in Genome Valley, Hyderabad.
The MN Park portfolio will receive investment from Ivanhoé Cambridge and Lighthouse Canton in an 80:20 ratio, respectively. The initial focus will be on consolidating the portfolio with select value accretive acquisitions in relevant life science R&D clusters in India. The transaction also includes the completion of development on identified land options within the portfolio to cater to tenant expansion requirements.
“This new investment in MN Park allows us to reinforce our conviction in life science real estate, a key focus area of our diversification strategy into high growth, innovation-focused sectors”, commented Chanakya Chakravarti, Managing Director, India, at Ivanhoé Cambridge. “We anticipate that India will further cement its position in the global life science arena in the post pandemic world. A new healthcare focus positions office-labs as a unique and exciting opportunity. We look forward to participating in this high growth sector by expanding the portfolio through select acquisitions in partnership with an aligned asset manager. MN Park offers diversification to Ivanhoé Cambridge’s India exposure, thereby enhancing portfolio resilience.”, he added.
“This is the first time a global pension fund is investing in life sciences R&D real estate in the region, and we are proud to be taking the first step in showcasing Singapore’s asset management capabilities in this space.” Said Ms. Audrey Tang, Chief Operating Officer for Lighthouse Canton in Singapore.
Adding to this, Mr. Shilpi Chowdhary, CEO for Lighthouse Canton, said, “The life sciences office-labs has been a high conviction theme for the firm since our acquisition of the MN Park portfolio in 2016. We are pleased to be co-investing with Ivanhoé Cambridge, a firm which is deeply aligned with this strategy. This investment sets the benchmark for such assets in the region, and we look forward to continuing supporting the growth of the life sciences sector across Asia.”
Ivanhoé Cambridge’s investment in MN Park is in line with its global strategy of focusing on sectors that foster innovation and long-term growth fundamentals. In March 2021, Ivanhoé Cambridge partnered with Lendlease to develop a 1.15-acre project featuring a state-of-the-art life science building with world-class amenities, located at 60 Guest Street, a land parcel in the Boston Landing campus in Allston/Brighton, Massachusetts.
Lighthouse Canton successfully acquired MN Park in 2016. It is South Asia’s largest privately owned portfolio of leased life sciences R&D facilities. The park is occupied by global and domestic credit tenants operating strategic R&D facilities engaged in mission critical, core innovation focused healthcare research.
About Ivanhoé Cambridge
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60.4 billion in real estate assets as at December 31, 2020 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers. For more information: www.ivanhoecambridge.com
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
About Lighthouse Canton
Founded in 2014, Lighthouse Canton is a Singapore headquartered asset and wealth management firm with over 80 full time employees across offices in Dubai, and India (Bangalore and Hyderabad). Lighthouse Canton has AUM of S$2B (CA$1.88) (across public and private markets) on behalf of institutional investors, family offices, and high net worth individuals. It has been investing through multiple strategies in RE private equity, direct lending, public equities, and global macros. Under the Private Markets business vertical, the firm has developed a strong track record as a real estate asset manager, with a sharp focus on life sciences R&D office labs segment. For more information: www.lighthouse-canton.com
#IvanhoéCambridge #LighthouseCanton
Luxembourg Reaffirms Long-term Commitment to Development and Cooperation with Laos
The 13th Bilateral Partnership Commission meeting between the Government of Lao PDR and the Government of Luxembourg took place on 8th July 2021.
Asia Cloud Computing Association Releases 2021 New Financial Services and Tech Adoption Report: Better on the Cloud for Financial Services in Asia Pacific
SINGAPORE – Media OutReach – 9 July 2021 – Asia Cloud Computing Association (ACCA) released its 2021 report on the financial services sector, Better on the Cloud – Financial Services in Asia Pacific. This is the third iteration of this report, examining the nuances of cloud and technology adoption by the Asia Pacific financial services sector.
The report examines eleven Asia Pacific markets, looking at the digital transformation accrued by jurisdictions which have facilitated greater cloud adoption within their financial sectors. The report reviews developments and policy adjustments made by regulators to work with financial institutions (FIs) and cloud service providers (CSPs) – adjustments which unlock the enabling power of cloud as a key support technology for FI business objectives, and risk management.
Digitally Transforming During The COVID-19 Pandemic
This pandemic season has significantly accelerated the need for FIs to transform digitally, with minimal disruption to their business. The financial sector’s resilience has been supported and enhanced by the availability of cloud computing technologies, which have supported transactions being enabled online and via mobile apps, allowed for secure means of remote identity verification and other Know Your Customer (KYC) requirements, and have paved a new way forward for managing relationships, balancing limited physical interactions with virtual connections.
“During this intense work-from-home period, cloud-based tools have allowed rapid adoption of new ways to communicate and collaborate all over the world,” says Quint Simon, Head of Public Policy, Asia-Pacific & Japan at Amazon Web Services (AWS), and Vice-Chair of the ACCA. “This has improved business efficiency and mitigated the risk of stress on FIs’ technology systems with capabilities that would have been far more challenging and costly without adoption of cloud computing.”
Enabling a Robust and Resilient Regulatory Environment
The report findings reveal that strong financial regulatory markets are characterized by a policy environment that has continuously updated, adapted, and revised regulations and guidelines to enable FI adoption of cloud computing technologies.
“We are pleased to note that many regulators are taking the step to go beyond accepting cloud adoption in the financial services sector, to actively affirming and encouraging FIs to consider the benefits of cloud,” observes Barbara Navarro, Director of Google Cloud Government Affairs and Public Policy, and Treasurer of the ACCA.
Ten Regulatory Recommendations
While there are positive developments within APAC which demonstrate the importance and benefit of continued dialogue between regulators, FIs and CSPs, the report notes that not all regulatory conditions are equally robust. It makes ten recommendations which will further accelerate digital transformation in financial services while mitigating associated risks.
- Recommendation #1 – Governments have publicly affirmed the adoption of public cloud for financial institutions (FIs).
- Recommendation #2 – Regulations should set out clear and not unduly burdensome processes for FIs to follow when adopting cloud services.
- Recommendation #3 – Regulations should not require regulatory prior approval for implementation of cloud services for each workload.
- Recommendation #4 – Regulations should be risk-based and clearly differentiate applicability to material and non-material workloads and for non-material workloads requirements should be minimal.
- Recommendation #5 – Regulations should have a clear distinction between control vs processing of data.
- Recommendation #6 – Geographic Restrictions: (a) Regulations should permit the cross-border transfer of data, and (b) Regulations should not require data to be stored in a specific geography.
- Recommendation #7 – Regulations should not prescribe terms of cloud contracts.
- Recommendation #8 – Regulations should not create a right to government for unrestricted physical audit access rights to CSP facilities.
- Recommendation #9 – Regulations and regulators are neutral as to foreign or domestic CSPs.
- Recommendation #10 – Regulations promote a risk-based approach to effective operational resiliency, which may include non-mandatory guidance encouraging the FI to consider business continuity and disaster recovery planning, geographic diversity, reversibility, exit planning, and vendor choice, among other factors.
Strengths and Opportunities for Regulatory Improvement
“From the report’s analysis, the leading markets have fully achieved most, if not all of our recommendations,” said Eric Hui, Chair of the ACCA, noting the improvements in APAC’s pro-cloud policies. “Financial regulators in Australia, Philippines, Singapore and Japan have made strong positive statements, or through their guidance, clearly support the adoption of cloud computing by FIs.”
However, there are opportunities for regulatory enhancement, to increase clarity and reduce cloud deployment times. “Beyond the leading regulators, there is a group of markets where the shift to cloud is more challenging because some regulatory requirements may tend to impede cloud adoption and technological innovation in the FIs,” adds Lim May-Ann, Executive Director of the ACCA. “There are variations on why this is the case for each of these markets, and this report provides a deep dive market analysis to examine market nuances further.”
One such nuance is the requirements for a regulatory approval or notice of no-objection from the financial regulator when deploying cloud technology. “In some markets the regulator requires approval or a notice of non-objection for each occasion an FI intends to place a workload on a cloud service, and this process can be highly repetitive, lengthy and opaque, which can impede cloud deployment,” observes Bojan Obradovic, Head of Cloud Services, HSBC, a member of the ACCA. “Regulators should consider the FI’s risk-based analysis – and how the standards, best practices and certifications of a CSP align with objectives.”
The report is available for free download at https://www.asiacloudcomputing.org. Markets covered include Australia, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand – along with two global benchmark jurisdictions markets, the United Kingdom and the United States of America (federal, and New York state.)
About Asia Cloud Computing Association (ACCA)
The ACCA is the apex industry association for Asia Pacific stakeholders in the cloud computing ecosystem. We represent a vendor-neutral voice of the private sector to government and other stakeholders, with the mission to accelerate the adoption of cloud computing through Asia Pacific by helping to create a trusted and compelling market environment, and a safe and consistent regulatory environment for cloud computing products and services.
#AsiaCloudComputingAssociation #ACCA
Earthquakes Cause Tremors for Xayaboury Residents
Xayaboury has recorded four earthquakes measuring from 2.8 to 4.9 on the Richter scale in recent days.
Alvotech Initiates Clinical Studies for AVT04, A Proposed Biosimilar to Stelara® (Ustekinumab)
- Approximately 530 participants will be enrolled in a comparative, confirmatory efficacy and safety study for AVT04 in plaque psoriasis, across Central and Eastern European countries.
- AVT04 Pharmacokinetic (PK) comparability study in approximately 294 healthy volunteers is being conducted simultaneously in New Zealand and Australia.
- Ustekinumab is indicated for the treatment of Crohn’s disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis.
HONG KONG SAR – Media OutReach – 8 July 2021 – Alvotech, the Iceland-based biosimilar company, today announced that the first patient has been dosed in the comparative, confirmatory efficacy and safety clinical study (AVT04-GL-301) for AVT04, Alvotech’s proposed biosimilar to the reference product Stelara®. The objective of the study is to demonstrate therapeutic equivalence between AVT04 and Stelara® in terms of safety, efficacy and immunogenicity in patients with moderate-to-severe chronic plaque psoriasis.
The AVT04-GL-301 study is being conducted in five countries in Central and Eastern Europe and it is expected that approximately 530 patients will be enrolled in the study.
In parallel, Alvotech is also conducting a PK similarity study (AVT04-GL-101) to demonstrate equivalent PK endpoints between the proposed biosimilar and the reference product Stelara. The AVT04-GL-101 study, that is also assessing safety and tolerability, is currently ongoing in Australia and New Zealand and is expected to enroll 294 healthy adult volunteers.
Ustekinumab, which is among the highest selling pharmaceutical products in the world, had worldwide sales of $7.7 bn in 2020.
AVT04 is the second proposed biosimilar product from Alvotech entering clinical studies, the first being AVT02, a proposed biosimilar to Humira®. Alvotech is the only known company that has both developed a biosimilar candidate for the high-concentration Humira® and is executing a switching study to support its approval as an interchangeable product.
Róbert Wessman, founder and Chairman of Alvotech commented, “As a founder, I am extremely proud to see us enter the second proposed biosimilar product into clinical trials. This brings us closer to our mission to expand patient access to high quality biosimilars at an affordable price.”
Mark Levick, CEO of Alvotech, added, “We are pleased to have reached this important milestone where the first subjects are being enrolled in clinical trials for AVT04, and we look forward to continuing with recruitment and patient follow-up.
“Additionally, the initiation of this clinical program, with two studies running in parallel, reinforces our commitment to improving the efficiency of the clinical development, with the ultimate goal of improving the lives of patients suffering from serious chronic or life-threatening diseases, through faster access to high-quality biosimilars.”
About Alvotech:
Alvotech is a multinational biopharmaceutical company focused on the development and manufacture of high quality biosimilars for global markets. We are specialists in biotechnology, seeking to be a global leader in the biosimilar space by delivering high quality, cost-competitive products and services to our partners and to patients worldwide. Our fully integrated approach, with high-quality in-house competencies throughout the value chain, enables the accelerated development of biosimilar products. Alvotech’s shareholder base includes, among others, Aztiq Pharma, led by founder and Chairman Mr. Robert Wessman, Fuji Pharma from Japan, YAS Holdings form Abu Dhabi, Shinhan from Korea, Baxter Healthcare SA from the US, ATHOS (Strüngmann Family Office) from Germany and CVC Capital Partners and Temasek from Singapore through their participation in Alvogen.
Alvotech’s initial pipeline contains several monoclonal-antibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions to improve quality of life for patients around the world. For more information, please visit our website, www.alvotech.com or follow us on LinkedIn,
Twitter and
Facebook.
#Alvotech
About AVT04 and AVT02:
AVT04 is a monoclonal antibody (mAb) and a proposed biosimilar to STELARA® (ustekinumab). AVT04 is an investigational compound and has not received regulatory approval in any country. Biosimilarity has not yet been established by regulatory authorities and is not yet claimed.
AVT02 is a monoclonal antibody (mAb) and a proposed biosimilar to HUMIRA® (adalimumab). AVT02 is an investigational compound and has not received regulatory approval in any country. Biosimilarity has not yet been established by regulatory authorities and is not yet claimed.
Forward Looking Statement
Except for historical information contained herein, the matters set forth in this press release are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are not based on historical facts but rather on our expectations regarding future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Statements in this press release about our future plans and intentions, results, level of activities, performance, goals or achievements or other future events constitute forward looking statements. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by such forward-looking statements. Any of the assumptions underlying forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in forward-looking statements may not actually be achieved. Nothing contained in these slides and/or the press release of them should be construed as a profit forecast or profit estimate. Wherever possible, words such as “anticipate”, “believe”, “expect”, “may”, “could”, “will”, “potential”, “intend”, “estimate”, “should”, “plan”, “predict”, or the negative or other variations of statements reflect management’s current beliefs and assumptions and are based on the information currently available to our management. Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
Shop Till You Drop with iShopChangi’s 8.8 Sales During Their 5-Week Campaign, iShopathon
iShopChangi’s iShopathon is back by popular demand for season two! Running from July 7 to August 10, shoppers can save up to 60% off on over 19,000 products. Enjoy attractive sitewide discounts and promotions, score upsized bundle deals, tax and duty-absorbed bargains on everything from the latest wine and spirits to fashion and beauty products.
SINGAPORE – Media OutReach – 8 July 2021 – Taking the Great Singapore Sale up a notch, iShopChangi is kicking off the month of July with a bang with the mega campaign, iShopathon. A treat for all shopaholics, the mid-year sale is now bigger than ever, featuring sitewide and category-wide promotions, livestreams, partner deals and weekly giveaways. This month-long online shopping event is packed with sales and rewards, sure to keep shoppers’ bargain-hunting momentum going from 7 July till 10 August, with major three-day flash sales starting 7 July and 8 August respectively.
Unrivalled Sitewide Discount Codes
Whether you’re on the lookout for the latest electronics or the best-selling wines and spirits, iShopChangi sets the record straight as an ideal shopping haven for the anticipated sale season. Shaking things up with all-day sitewide discounts from July 7 to 9 and August 8 to 10, simply apply the codes 77SPECIALS or 88SPECIALS respectively for 10% off, capped at S$50. From July 10 to August 10, use the ISHOPATHON8 discount code up to 3 times for 8% off, capped at S$30 for each redemption. With no minimum spend required, you’ll want to load up your shopping cart and maximise bargains.
Good news for DBS/POSB cardholders! Unlock your welcome perk from us as a first-time iShopChangi shopper and Changi Rewards member by entering the code ISHOPDBSNEW for S$20 off on your first purchase. Been shopping with us for a while now? Use ISHOPDBS20 and enjoy the same S$20 off a minimum spend of S$200!
Score Over 50% Off on Beauty & Fashion Products
But the massive savings doesn’t end there! Beyond the iShopathon discounts, iShopChangi is also offering special beauty promos, including upsized deals, gifts with purchase and beauty sets. Get your glow on with 15% off with a minimum spend of S$350, discount capped at S$80, by entering ISHOPBEAUTY15 when you checkout.
If branded goods from the likes of MCM, FURLA, and TOMMY HILFIGER are more up your alley, you’ll be racing in style with over 50% off in the fashion category – both men’s and women’s – and free delivery. For huge savings on some of the world’s biggest names in vogue, take 10% off with ISHOPFASH10, discount capped at S$30, with a minimum spend of S$150.
The ultimate shopping marathon will also feature two livestream sessions on Wines & Spirits. From 9pm to 11pm on July 8 and August 5, alcohol lovers can tune in to popular personalities, including Aiken and Nina from Food King, via @iShopChangi Facebook and Instagram channels. To join the party and grab limited-time promo codes of up to 50% off sitewide, 24-hour flash bundle deals live on-air, and over S$6,000 worth of prizes to be snapped, RSVP to iShopathon LIVE!
Avid fans and followers of the newly launched @iShopChangi Facebook and Instagram channels can expect weekly giveaways worth over S$2,000 from wines and spirits labels GLENFIDDICH and MAKER’S MARK, beauty brand SKIN INC and KINOHIMITSU, electronics brand LENOVO and more.
Besides getting your hands on the latest electronics with deals up to 50% and an extra 8% off cutting-edge
Shop til’ you drop with iShopChangi’s unbeatable discounts and promotions. Become a Changi Rewards member and earn up to 3% rebates in rewards points with every purchase, and offset them during your next shopping spree. Browse the expansive online catalogue and be on the lookout for additional flash deals and unmissable livestreams to shop and save.
About iShopChangi
iShopChangi was launched in 2013 as an extension of Changi Airport’s promise to deliver greater comfort and convenience to travellers in its suite of airport retail offerings. Passengers can browse and purchase tax- and duty-free products across all terminals between 30 days to 12 hours pre-flight on the e-store – and choose to collect their items at Collection Centres within departure, upon arrival or have them delivered free in Singapore. Providing easy access to over 30,000 products across 900 brands and exclusives such as Changi First product launches, the site has since received global recognition with its award for Best Website – Retail Customer Facing at The Moodies: the Airport and Travel Retail Digital Media Awards 2018. In early 2020, the e-commerce store started to retail a selection tax- and duty-absorbed products to Singapore-based residents without the need to fly.
#iShopChangi
BBGL Partners Make Bold Commitments to a Great Future
Global Britain relaunches flagship GREAT Campaign while the UK Embassy and British Business Group Lao drive towards a greener future.