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Infineon to build the world’s largest 200-millimeter SiC Power Fab in Kulim, Malaysia, leading to total revenue potential of about seven billion euros by the end of the decade

MUNICH, GERMANY – Media OutReach – 3 August 2023 – The decarbonization trend will result in strong market growth for power semiconductors, in particular those based on wide bandgap materials. As a leader in Power Systems, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) is now taking a further, decisive step to shape this market: By significantly expanding its Kulim fab – over and above the original investment announced in February 2022 – Infineon will build the world’s largest 200-millimeter SiC (silicon carbide) Power Fab. The planned expansion is backed by customer commitments covering about five billion euros of new design-wins in automotive and industrial applications as well as about one billion euros in pre- payments.

Rendering of Infineon Technologies AG’s manufacturing site in Kulim, Malaysia: By significantly expanding the fab – over and above the original investment announced in February 2022 – Infineon will build the world’s largest 200-millimeter SiC Power Fab.
Rendering of Infineon Technologies AG’s manufacturing site in Kulim, Malaysia: By significantly expanding the fab – over and above the original investment announced in February 2022 – Infineon will build the world’s largest 200-millimeter SiC Power Fab.

Over the next five years Infineon will additionally invest up to five billion euros in Kulim during a second construction phase for Module Three. The investment will lead to an annual SiC revenue potential of about seven billion euros by the end of the decade, together with the planned 200-millimeter SiC conversion of Villach and Kulim. This highly competitive manufacturing base will support Infineon’s SiC market share target of 30% towards the end of the decade. Infineon is confident that the company’s SiC revenue in the fiscal year 2025 will come in ahead of the target of one billion euros.

“The market for silicon carbide shows accelerating growth, not only in automotive but also in a broad range of industrial applications such as solar, energy storage and high-power EV charging. With the Kulim expansion, we will secure our leadership position in this market,” said Jochen Hanebeck, CEO of Infineon. “With the industry’s leading scale and a unique cost position, we are leveraging our competitive position of best-in-class SiC trench technology, the broadest package portfolio and unrivaled application understanding. These factors are the areas of differentiation and success in the industry.”

Infineon has been awarded new design wins of about five billion euros along with about one billion euros in prepayments from existing and new customers: In the automotive sector this includes six OEMs, three of them from China. Among the customers are Ford, SAIC and Chery. In the area of renewable energies customers include SolarEdge and three leading Chinese photovoltaic and energy storage systems companies. In addition, Infineon and Schneider Electric agreed on a capacity reservation including prepayments for power products based on silicon and silicon carbide. Infineon and the respective customers will provide more details in separate announcements in the near future. The prepayments will contribute positively to Infineon’s cash flow in the coming years and shall be fully repaid in connection with the agreed sales volumes by 2030 at the latest.

The Right Honourable Dato’ Seri Anwar bin Ibrahim, Prime Minister of Malaysia, expressed his appreciation for Infineon’s commitment to creating a significant wide bandgap hub in the country. “Malaysia is putting in maximum efforts to meet its national target to decarbonize its economy and achieve net zero by 2050. Malaysia’s continued appeal as a preferred investment destination comes with a well-established landscape for developing innovative and sustainable technologies. In this vein, Infineon’s vision on green technology and sustainability puts it right at home in Malaysia. Infineon and other well-established German corporations’ continued faith in Malaysia is a vote of confidence in Malaysia’s new economic growth agenda premised on inclusivity and sustainability, enabled by strong policies on knowledge transfer, quality investments, business enablement and socio-economic well-being based on equitable sharing of the nation’s wealth.”

The Minister of Investment, Trade and Industry (MITI), His Hon. Tengku Datuk Seri Utama Zafrul Aziz lauded Infineon’s expansion and said, “Infineon’s expansion of their world-class silicon carbide facility in Kulim marks a significant milestone in Malaysia’s pursuit of developing advanced manufacturing capabilities, creating high-skilled employment opportunities and positioning the country at the forefront of enabling green technologies, which are crucial to achieving our global sustainable development goals. The innovative power semiconductor technologies manufactured in the SiC Power Fab will also bolster Malaysia’s position as a key player in the world’s semiconductor ecosystem, with a growing role specifically in the sustainable technology supply chain. I am heartened by Infineon’s sharing of Malaysia’s commitment to address the impact of climate change and I look forward to our long-term partnership for the further development of Malaysia’s green technologies ecosystem.”

Sustainability is a key element in the planning, construction and operation of the fab. The building is designed in a way that allows Infineon to make responsible use of resources such as electricity and water.

Hashtag: #Infineon #siliconcarbide #SiC


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

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

Chubb Promotes Serene Neo to Head its Accident & Health Business in Asia Pacific

SINGAPORE – Media OutReach – 3 August 2023 – Chubb has announced the appointment of Serene Neo as Head of Accident & Health (A&H) for Asia Pacific, effective 1 August 2023. In this role she will report to Ben Howell, Head of Consumer, Asia Pacific, and be responsible for the management, financial performance and growth of Chubb’s accident, health and travel portfolios.

Neo joined Chubb in 2019 after spending more than 15 years working in financial services in product management, marketing and digital banking roles. In 2022 she was promoted to her most recent position of Division Head, Consumer Lines, Singapore where she was instrumental in driving strategic digital initiatives and building key partnerships.

On announcing Neo’s appointment, Howell said, “Serene’s impressive track-record combined with her transformational leadership style, business acumen and creativity make her the ideal leader of our substantial Accident & Health business across Asia Pacific. Her promotion is testament to our depth of talent in the region.”

Hashtag: #Chubb

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

About Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 40,000 people worldwide. Additional information can be found at: .

HKU introduces new policy to fully integrate GenAI in Teaching and Learning

HONG KONG SAR – Media OutReach – 3 August 2023 – The University of Hong Kong (HKU) has announced its commitment to incorporating next-generation artificial intelligence technology, GenAI, into its teaching and learning environment starting from the 2023-24 academic year.

(From left) Ms Flora Ng, Professor Pauline Chiu, Professor Ian Holliday and Professor Cecilia Chan
(From left) Ms Flora Ng, Professor Pauline Chiu, Professor Ian Holliday and Professor Cecilia Chan

In June, the University Senate endorsed a comprehensive policy for using GenAI in teaching and learning. This incorporation of GenAI will establish it as the fifth literacy for HKU students, alongside the current four literacies of oral, written, visual, and digital communication, under the HKU communication-intensive course (CiC) initiative.

Over the past several months, HKU has offered free access to ChatGPT and other generative AI tools for teaching staff. Beginning this new semester in September, a wide range of GenAI tools such as Microsoft OpenAI and Dall-E will be provided for free to all teachers and students for teaching and learning purposes. Trainings and online courses and other resources will be provided to ensure the effective use of these tools.

“HKU embraces GenAI and recognizes AI literacy as essential to teaching and learning. Our goal is to enable our teachers and students to become not only AI literate but also leaders in exploiting the vast potential of GenAI for the benefit of mankind,” said Professor Holliday, who earlier led the task force to formulate the policy paper. He will chair a new GenAI User Advisory Committee to oversee the integration of GenAI in teaching and learning, and determine which GenAI tools should be incorporated and how they can best support student learning.

Under the new policy, teachers are encouraged to optimise student learning with GenAI including devising creative, engaging and innovative T&L activities; fostering analytical thinking; developing critical research skills; creating content tailored to individual needs and interests, etc.

To maintain the highest standards of GenAI integration, periodic evaluations involving multiple stakeholders, such as teachers, students, and IT administrators, will be conducted. These evaluations will inform future strategies and tactics to address any emerging challenges.

Teachers are encouraged to embrace GenAI in assessment, and to devise mechanisms for evaluate student attainment authentically and fairly. The aim is to ensure the responsible and effective use of GenAI tools, and to uphold the highest standard of academic integrity.

To address the challenges posed by GenAI on student work assessments, teachers are to clearly communicate expectations and provide guidance on proper declaration and citation of GenAI tools used in coursework tasks and assignments. Alternative assessment methods will be encouraged, prompting students to use GenAI tools in their submitted work. Examples include device-free examinations, oral examinations, live classwork such as demonstrations and presentations, and student peer assessments.

Additional resources for students and staff in need of AI support, including the AI Clinic, AI in Education website, and a five-week self-paced online module, will serve as valuable sources of information and guidance on responsible AI use.

In addition, HKU has received an HK$15.7 million in funding under UGC’s inaugural Fund for Innovative Technology-in-Education (FITE). The funding will be used to enhance GenAI technology use in various disciplines.

The University also plans to form alliances with elite universities worldwide to jointly explore the potential of GenAI and tackle challenges.

“By boosting critical engagement with GenAI, we aim to elevate teaching and learning at the University to new heights of academic excellence.” Professor Holliday said.

For the online press release and photos, please visit: http://www.hku.hk/press/news_detail_26434.html
Hashtag: #HKU

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

Meta Holdings launches ‘HRDR’, a virtual humanoid Al Model for Virtual Idols with Music, Dance & Social

SHANGHAI, CHINA – Media OutReach – 3 August 2023 – WEB3.0 Immersive Interactive Social Metaverse – Meta Holdings Group (www.meta48.com) and Shanghai SNH48 Culture Media Group Co., Ltd. (www.snh48.com) officially announced the release of China’s first comprehensive, vertical marketplace, multimodal artificial intelligence big data model ‘HRDR’ on August 5, 2023, in Shanghai. This model focuses on virtual digital human music, dance, and virtual social interactions.

Meta Holdings Ltd., together with research and development centers in Shanghai, Beijing, and Chengdu, jointly created and exclusively owns the multimodal large model of artificial intelligence and accompanying digital toolkits and ‘The Seine River Metaverse Buildor’. These tools are developed in the Meta48 Artificial Intelligence Lab. and the Meta48 Digital Intelligent Human Lab. In the past decade, it has accumulated up to 500 terabytes of data, comprising text, audio, and video, from the long-term operation of SNH48 GROUP, a large youth girl group in China. With sufficient computing power, ‘HRDR’ will play a pivotal role in the technical implementation and practical application of digital/virtual humans across several industries, including music and virtual dance entertainment, next-generation games, virtual social interactions, and various digital content creation. Additionally, it will offer crucial technical support for implementing PGA and UGA, in addition to PGC and UGC to realize co-creation and co-development through the Metaverse project.

As a multi-modal artificial intelligence big data model focused on vertical markets such as virtual companions, music, dance, and social interactions, the concept and name of “HRDR” combines the titles of the first virtual companionship and romance game in China, “Heartbeat Memories” (1998), the first music and dance online game in the Chinese market, “O2Jam” (2004) and “Audition” (2005), as well as the first large-scale youth girl group in China, “SNH48 GROUP” (Seine River) (2012). It carries the meaning of commemorating the “memories of a large number of Chinese youth” that were made possible by the founder of Meta Holding and his core entrepreneurial team. It also expresses the intention of the founder of Meta Holding Ltd., and the leadership team to forge ahead in the new era of WEB3.0 and artificial intelligence, continuously making new contributions to the future development of interactive entertainment and cultural industries.

The “Meta Metaverse,” developed by Meta Holding, relies on WEB3.0 and artificial intelligence big data modeling technology to fundamentally reshape the core user experience of classic cultural and entertainment products such as “Heartbeat Memories,” “o2Jam,” “Audition,” and “SNH48 GROUP,” and evolve them into an immersive interactive social metaverse in the form of WEB3.0. This product will officially launch in the China domestic market in the first quarter of 2024.
Hashtag: #MetaHoldings

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

On Global Tiger Day, Laos Reaffirms Commitment to Tiger Recovery, Charts Way Forward

Laos' upcoming Tiger Action Plan will highlight tiger recovery potential (Photo: WWF)
Laos' upcoming Tiger Action Plan will highlight tiger recovery potential (Photo: WWF)

At a time when tigers across Southeast Asia are facing imminent threats towards extinction, Laos is taking bold, ambitious steps toward their recovery.

FITTERY delivers meal plans to supercharge fitness goals

HONG KONG SAR – Media OutReach – 28 July 2023 – FITTERY, a leading provider of healthy meal plans. FITTERY meal plan is designed to provide customers with calorie-controlled meals that are delivered straight to their doorstep, making healthy eating easy and convenient, and helping individuals achieve their fitness goals through proper nutrition.

Studies have shown that diet accounts for up to 80% of weight loss success, highlighting the importance of proper nutrition in achieving fitness goals. However, meal prepping, grocery shopping, and cooking can be a challenge in Hong Kong’s fast-paced lifestyle. FITTERY’s meal plan offers a solution by providing ready-to-eat meals that are tailored to meet individual dietary needs and preferences.

FITTERY’s meal plans are carefully crafted by expert nutritionists and professional chefs to ensure that they are nutritionally balanced and provide all the necessary macronutrients and micronutrients required for a healthy diet. Customers can choose from a diverse selection of meal plans and menus, including Fusion, Chinese, vegetarian, low-carb, get lean, build muscle and semi-keto options.

For customers with highly specific dietary or allergy requirements, FITTERY offers the DIY BOX, allowing customers to build their own meals from a wide variety of lean proteins, vegetable sides, carbohydrate bases, and low-calorie sauces. With up to 50 ingredients and over 200 meal combinations to choose from, FITTERY offers a flexible and customizable solution for customers’ unique needs.

FITTERY’s service is tailored to meet the demands of Hong Kong’s fast-paced lifestyle, with a dedicated customer service WhatsApp hotline that allows customers to modify their meal plans, pause deliveries, change delivery addresses, or request allergy accommodations on the go.

To kickstart their health journey, customers can enter the promo code 【TRYNOW】 to enjoy 17% off their first order on FITTERY’s website.

Hashtag: #fitteryhk #mealplan #healthyeating #mealdelivery


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

FITTERY

FITTERY is a health-focused food delivery service that provides a wide range of nutritious and delicious meals to suit various dietary needs. FITTERY’s mission is to make healthy eating easy and convenient for everyone, especially those with busy lifestyles. Their meals are prepared by professional chefs using only the freshest ingredients, ensuring that customers receive healthy and balanced meals every time.

New Dinosaur Species Discovered in Southeast Asia Lived 150 Million Years Ago

New dinosaur species, Minimocursor phunoiensis, found in Southeast Asia (YouTube: Mr. DinoDigger)
New dinosaur species, Minimocursor phunoiensis, found in Southeast Asia (YouTube: Mr. DinoDigger)

A new species of dinosaur has been discovered in Thailand, the 13th to be found in the country. The dinosaur, named Minimocursor phunoiensis, is a small herbivorous dinosaur that lived about 150 million years ago.

Laos, India to Further Strengthen Cooperation, Sign MOU for Five Projects

Mr. Saleumxay Kommasith, Deputy PM and Minister of Foreign Affairs, welcomed Indian Deputy Minister of Foreign Affairs, Mr. Saurabh Kumar, with his delegation during their visit to Laos. (Photo: Pasaxon)

The Lao and Indian Ministers of Foreign Affairs have held discussions to strengthen bilateral cooperation during the third dialogue meeting between the two ministries from 26-29 July.