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Daily Archives: May 6, 2019

Epiq Announces Plan to Bolster Solutions and Leadership

Michelle Deichmeister Joins Epiq to Lead Global Business Transformation Solutions

NEW YORK, May 06, 2019 (GLOBE NEWSWIRE) — Epiq, the global leader in the legal services industry, announced today that Michelle Deichmeister has joined as president and general manager to lead its global business transformation solutions business. Deichmeister, a seasoned executive who excels at driving enterprise growth and profitability, brings to Epiq more than 30 years of senior leadership and management experience.

Deichmeister has significant experience leveraging global operational scale through process discipline and a track record of delivering exceptionally high levels of client satisfaction.  She will be responsible expanding the range of solutions from business process solutions to new, technology-enabled business process outsourcing (BPO) and transformation solutions focused on law firms and expanding into corporate legal departments in the finance and banking, oil and gas, pharmaceutical, and technology verticals.Michelle Deichmeister

“Epiq currently provides on-site management and technology solutions to over 425 law firms across the U.S.,” said David Dobson, chief executive officer of Epiq. “Expanding this successful solution to corporations and additional verticals allows our corporate clients to create tremendous value for the organizations they serve by transforming for the future, beyond technology. With Michelle’s background and proven experience executing similar strategies on a global scale, we look forward to expanding our offering into new countries and across new verticals.”

“Epiq’s leadership position is a testament to the talented individuals in the business today,” said Deichmeister. “Our clients speak to their dedication, passion and world-class client experience and I look forward to building upon the already strong foundation that is in place today. I am excited about the breadth of solutions that Epiq already provides and I am pleased that David has asked me to lead this new effort at Epiq. Business transformation solutions can drive enterprise value for our clients through efficiencies created with better processes, people and technology.”

Deichmeister most recently held the role of executive vice president of Exela Technologies, where she was responsible for the development and execution of strategy and operations for the company. Deichmeister also held executive leadership roles at Novitex Enterprise Solutions and Affiliated Computer Services, Inc. (ACS), formerly a Xerox company. Deichmeister attended the executive leadership program at the University of Virginia Darden School of Business and is Six Sigma Black Belt certified.

About Epiq
Epiq, a global leader in the legal services industry, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com.

Press Contact
Jill Brown
Epiq
+1 713 933 2905
jbrown@epiqglobal.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bb1f5035-19d5-46a2-ab7a-5fa7947e6bf5

CP Kelco Names Azelis as New Distributor for Nordic Markets

ATLANTA, May 06, 2019 (GLOBE NEWSWIRE) — CP Kelco, a leading global producer of nature-based ingredient solutions, announced today that Azelis will be its exclusive distributor for CP Kelco products sold into food and beverage applications in Denmark, Sweden, Norway, Finland, Iceland and the Faroe Islands, effective June 24, 2019.

As a key distribution partner of CP Kelco in parts of Europe and Asia for years, Azelis is a leading global distributor of specialty chemicals and food ingredients, driving growth in line with CP Kelco’s business strategy.

“We are pleased to expand our relationship with Azelis into the Nordic markets,” said Niels Thestrup, Vice President, EMEA Region for CP Kelco. “Together, our organizations are committed to deliver value-added solutions and services to meet and exceed our customers’ expectations. We are excited about the support of a strong partner like Azelis to help formulators develop new products and applications with our nature-based ingredients.”

Anna Bertona, CEO & President, Azelis EMEA, added, “Strong technical support is one of the cornerstones of Azelis’ offering to customers. High quality ingredients from a market leader such as CP Kelco complete our current portfolio range in the Nordics, enabling our technical application team to offer the best possible solutions to customers. At the same time, it allows us better access to segments in the food industry like fruit, dairy, beverage and confectionery.”

For more information about CP Kelco and Azelis, visit www.cpkelco.com and www.azelis.com.

About CP Kelco

CP Kelco is a nature-based ingredient solutions company with over 85 years of experience working with food, beverage, consumer and industrial products manufacturers worldwide. We unlock nature-powered success by applying ingredient innovation and problem-solving to develop customized solutions that leverage our regional insights and meet manufacturers’ goals to address consumer needs and preferences. What sets CP Kelco apart:

  • Unique Portfolio. Produces extensive range of high-quality, plant-based and fermentation-derived ingredients to formulate tailored solutions.
  • Technical Excellence. Offers strong collaboration with a global team of scientists and applications experts, leveraging our regional state-of-the-art R&D facilities.
  • Sustainability. Committed to providing responsibly sourced and produced ingredients.
  • Market Insights. Understands market and consumer trends to help customers create relevant and innovative products.

Our key product lines are Gellan Gum, Pectin, Xanthan Gum, Carrageenan, Diutan Gum, Cellulose Gum/CMC, Refined Locust Bean Gum and Microparticulated Whey Protein Concentrate, as well as other unique biopolymers. Learn more at www.cpkelco.com.

CONTACT:
Michele Cacdac-Jones
Director, Brand & Marketing Communications
michele.cacdac-jones@cpkelco.com
Mobile: +1 770 743 0564

Bursa Malaysia takes first step into blockchain-powered SBL

KUALA LUMPUR, Bursa Malaysia Bhd has embarked on a securities borrowing and lending (SBL) Proof-of-Concept (POC) that explores the opportunities afforded by blockchain technology to develop greater transparency and address other operational challenges associated with the SBL market in Malaysia today.

Chief executive officer Datuk Muhamad Umar Swift said the project aimed to ramp up efficiency, speed and capacity in securities lending supply and borrowing demand (Lending Pool).

“Across different markets, empirical studies show that short selling helps provide additional liquidity and improves price efficiency.

“The growth potential of Malaysia’s SBL market makes it a prime candidate where the power of blockchain technology can create a considerable impact. The collaboration also benefits the wider industry through new knowledge, insights and practical experience in harnessing digital innovation to support and drive the growth of the capital market,” he said in a statement today.

POC – which is the first of its kind in ASEAN – was developed in partnership with the Exchange’s technology partner, Forms Syntron Information (HK) Ltd (FORMS), a wholly-owned subsidiary of Shenzhen Stock Exchange-listed Shenzhen Forms Syntron Information Co., Ltd. It will involve a diverse range of SBL market participants.

Affin Hwang Investment Bank Bhd, CIMB Investment Bank Bhd, Citibank Bhd, Retirement Fund Incorporated and Malacca Securities Sdn Bhd are collaborating with Bursa Malaysia and FORMS to drive the development of the blockchain-enabled Lending Pool to suit the industry’s specific needs, cost and efficiency pressures.

This initiative is the first POC project designed to explore and address the challenges faced in SBL in Malaysia.

It also opens the possibility for Bursa Malaysia to undertake deeper explorations in blockchain technologies to address other operational challenges prevalent to SBL activities in Malaysia and discover more opportunities to drive end-to-end functionalities such as market interest discovery, trade capture and collateral management.

Source: BERNAMA (News Agency)

Darell receives official visit from Argentinian Vice-President

KUALA LUMPUR, International Trade and Industry Minister Datuk Darell Leiking today received an official visit from Argentinian Vice-President Marta Gabriela Michetti who is here for a five-day visit to the country beginning May 2.

During the private meeting at his office here, Darell and Michetti agreed that there are growth opportunities in the bilateral trade and investment relations between the two countries, the Ministry of International Trade and Industry (MITI) said in a statement today.

Darell acknowledged the enormous prospects of Argentina and the Mercosur economic bloc to further deepen Malaysia’s trade and investment ties within the Latin American region, it said.

Darell also emphasised the need for the governments and businesses in both nations to work hand in hand to explore mutually beneficial opportunities, address the existing challenges and improve the processes.

Being the fifth largest economy in the world, Malaysia definitely is interested to establish a partnership with Mercosur. MITI is exploring the feasibility of a Free Trade Agreement with Mercosur, he added.

In 2018, Argentina remained as Malaysia’s third largest trading partner among Latin American countries after Brazil and Mexico, with total trade of RM5.39 billion (US$1.3 billion), while Malaysia was Argentina’s fourth largest trading partner among ASEAN countries.

Palm oil and palm oil-based agriculture products are among the major exports to Argentina after rubber products; electrical and electronic; and petroleum products.

Source: BERNAMA (News Agency)

No solution in sight to turn around Malaysia Airlines – PM

PUTRAJAYA, The government has yet to decide on the fate of the ailing Malaysia Airlines as there is still no feasible solution in sight to turn it around, said Tun Dr Mahathir Mohamad.

The Prime Minister said the losses and management of the national carrier was so terrible that it is difficult to turn it around.

“Everyone tells me we should do it this way or that way. Nobody has come up with a proper solution that can actually succeed,” he told a press conference in conjunction with the first anniversary of the Pakatan Harapan government, here today.

Dr Mahathir said the previous government had pumped in RM6 billion, while the airline had laid off 6,000 employees and cut down its routes.

He added that currently the airline industry is very competitive and many airlines had been sold off.

“It is hard to compete with the emergence of the low-cost carriers and also Arab airlines which provide luxury facilities and all kinds of perks.

“I do not know how they make money, but people cannot challenge them. It is a very difficult business now,” he said.

Source: BERNAMA (News Agency)

No solution in sight to turn around Malaysia Airlines – PM

PUTRAJAYA, The government has yet to decide on the fate of the ailing Malaysia Airlines as there is still no feasible solution in sight to turn it around, said Tun Dr Mahathir Mohamad.

The Prime Minister said the losses and management of the national carrier was so terrible that it is difficult to turn it around.

“Everyone tells me we should do it this way or that way. Nobody has come up with a proper solution that can actually succeed,” he told a press conference in conjunction with the first anniversary of the Pakatan Harapan government, here today.

Dr Mahathir said the previous government had pumped in RM6 billion, while the airline had laid off 6,000 employees and cut down its routes.

He added that currently the airline industry is very competitive and many airlines had been sold off.

“It is hard to compete with the emergence of the low-cost carriers and also Arab airlines which provide luxury facilities and all kinds of perks.

“I do not know how they make money, but people cannot challenge them. It is a very difficult business now,” he said.

Source: BERNAMA (News Agency)

OCBC Bank expects BNM’s OPR cut in July 2019

KUALA LUMPUR, OCBC Bank is retaining its expectations that Bank Negara Malaysia (BNM) may cut the Overnight Policy Rate (OPR) as early as July 2019 rather than in the upcoming May 2019 Monetary Policy Committee (MPC) Meeting scheduled for tomorrow.

Its economist Alan Lau believed BNM may wait to monitor the situation a bit longer before making a decision to cut the OPR, especially with the return of US-China trade tensions and the US dollar’s strength.

It also said the language of the central bank’s March 2019 statement may appear only to go so far as to indicate an even chance of a May 2019 cut.

That said, after the so-called ‘surprise cut’ in July 2016, the next time that BNM did move, in January 2018, they had indicated this decision in stronger language in the prior December 2017 statement.

Another major concern that may underlie BNM’s decision to cut could be regarding the growth situation, where the industrial production index for the first quarter of 2019 has been on a decline and it has usually been reflective of weaker GDP (gross domestic product) growth to come, he said in a note titled ‘Will BNM be the first in ASEAN to cut rates’.

On the other hand, Lau said concerns have also emerged regarding the value of the ringgit as the currency has faced a series of pressures recently.

A rate cut could likely add some pressure on a further upward movement for the US dollar-ringgit.

However, a weakening ringgit is not necessarily a negative on the real economy, given that inflation is subdued and that its effect on exports may be at least neutral, said Lau.

Meanwhile, he said the US Federal Reserve’s direction is unclear but believed it will also impact BNM’s decision as the 10-year real rates difference between Malaysia and US has been quite wide and has climbed substantially although it could be partially attributable to the weak inflation in Malaysia.

On March 5, BNM maintained the OPR at 3.25 per cent.

Source: BERNAMA (News Agency)