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Daily Archives: June 6, 2019

Moab Partners Supports Fir Tree Proposals For JR Kyushu

NEW YORK and TOKYO, June 06, 2019 (GLOBE NEWSWIRE) — Moab Capital Partners, LLC (“Moab”), a significant shareholder of Kyushu Railway Company (TYO: 9142) (“JR Kyushu” or the “Company”), with ownership of approximately 1% of JR Kyushu’s outstanding shares, announces its support of the shareholder proposals at the upcoming AGM.

Moab intends to vote FOR the shareholder proposals (“Agenda Items 7-12”). Moab strongly supports the proposed share buyback and the addition of three truly independent and exceptionally qualified independent directors.

The Company released its medium-term plan on March 19, 2019, which provided limited detail on 210 billion Yen of proposed capital investments over the next three years. Return on invested capital should be disclosed for investments representing 41% of the Company’s total market capitalization. Further, we believe the contemplated investments should be more evenly balanced with a return of the Company’s excess capital to shareholders. With numerous communications from Moab and other shareholders to this effect, we are disillusioned that our feedback was largely ignored by JR Kyushu’s management and board. It is evident that we are not alone in our disappointment—since the medium-term plan announcement on March 19, JR Kyushu’s total return of negative 15.8% compares unfavorably vs. the JR peers’ average decline of only 3.3%.

Moab is a long-term shareholder of JR Kyushu—our position was established in January 2017. Our substantial investment in JR Kyushu reflects 1) the company’s extraordinary portfolio of assets, particularly its spectacular real estate portfolio, 2) the strong economic and fundamental tailwinds that the company’s businesses are positioned to benefit from, 3) the company’s exceptionally compelling valuation, and 4) the company’s pristine balance sheet, which provides the flexibility to both execute on medium-term plan growth investments while simultaneously capitalizing on the aforementioned discounted valuation and improving the company’s cost of capital and return on equity.

We believe a host of issues are preventing JR Kyushu from reaching its full potential: 1) unbalanced capital allocation priorities, 2) significant uncertainty surrounding underwriting criteria for acquisitions and growth capital expenditures, 3) a capital structure that is inappropriate for an asset heavy business that generates significant and stable cash flows, 4) corporate governance issues ranging from lack of management economic alignment to a shortage of truly independent and exceptionally qualified board members, and 5) inadequate and confusing financial disclosures.

Moab has maintained an active dialogue with the company since establishing our investment, but the company has failed to address our serious concerns with any urgency, which is why we are now going public with our support for change at JR Kyushu and FOR the shareholder proposals (“Agenda Items 7-12”).

About Moab Capital Partners, LLC

Moab is an SEC-registered independent investment advisor founded in 2006 and is located in New York, NY.

Investor contact:
Michael Rothenberg
Managing Member
Moab Capital Partners, LLC
212-981-2647
mr@moabpartners.com

Skybox Security Wins Best Vulnerability Management at SC Europe Awards

Skybox takes home the SC Europe Award for Best Vulnerability Management Solution at London ceremony

SAN JOSE, Calif., June 06, 2019 (GLOBE NEWSWIRE) — Skybox® Security, a global leader in cyber risk management, won the SC Awards Europe 2019 for Best Vulnerability Management. The announcement was made Tuesday, June 5, 2019, at the SC Awards Gala in London, presented by SC Media.

In addition, Skybox took home the SC Award for Best Risk and Security Policy Management in the 2019 US ceremony, as well as the 2018 US and Europe ceremonies.

The recognition of Skybox as a best-in-class vulnerability management solution is of particular importance as it takes a unique approach to solve challenges typical in scan-and-patch programs. In order to fix the right vulnerabilities — those most likely to be used in an attack — Skybox:

  • Collects information from a customer’s scanners, asset repositories, networking and security devices to provide a context-rich view of the environment in which vulnerabilities exist
  • Creates a complete, current and centralized repository of vulnerabilities in the customer environment, including those in on-prem, multi-cloud and OT networks
  • Matches vulnerabilities with available and active exploits in the wild
  • Determines a vulnerability’s exposure by modeling the environment and analyzing potential attack paths to vulnerable assets
  • Identifies best response options including patches and IPS signatures, as well as configurations or access changes

Skybox® Vulnerability Control not only provides all of these capabilities in a single solution, but also intelligently automates these processes to move through the workflow from discovery to targeted action the same day.

“Being different can be a blessing and curse,” said Skybox VP Products Amrit Williams. “On one hand, our unique way of handling vulnerability management has filled a need in enterprise security programs that’s long been ignored and, for that, we’re extremely proud of our solution. On the other, being in a class of your own can make it hard to gain recognition for what you’re doing. While we’ve been a finalist in this SC Award category many times before, the win shows that the mindset is shifting, and the insights we provide to vulnerability exposure and exploitability are paramount to reducing risk in the face of an increasingly hostile threat environment, compliance initiatives and constant change.”

“The Vulnerability Management Award win is fantastic news,” said Gidi Cohen, CEO and founder of Skybox. “Using network context and attack simulation to find risk exposures was the original product that started Skybox back in 2002, and it was a big deviation from the scanning approaches that were around at the time and are still in use today. We’ve continued to hone this product line, adding in capabilities to manage risk in cloud networks and reduce exposures in industrial control systems, and, overall, to simplify the answer of ‘what do I fix today?’ Recognition of our unique approach from a gold standard like SC Media is great validation and much appreciated.”

To learn more about Skybox solutions for vulnerability management as well as security policy, firewall and change management, visit our website or schedule a demo today.

About Skybox Security

www.skyboxsecurity.com

Skybox provides the industry’s broadest cybersecurity management platform to address security challenges within large, complex networks. By integrating with more than 130 networking and security technologies, the Skybox® Security Suite provides comprehensive attack surface visibility and the context needed for informed action. Our analytics, automation and intelligence improve the efficiency and performance of security operations in vulnerability and threat management and firewall and security policy management for the world’s largest organizations.

© 2019 Skybox Security, Inc. All rights reserved. Skybox Security and the Skybox Security logo are either registered trademarks or trademarks of Skybox Security, Inc., in the United States and/or other countries. All other trademarks are the property of their respective owners. Product specifications subject to change at any time without prior notice.

Tweet This: The Best #VulnerabilityManagement Solution @SCMagazine Awards 2019 goes to @SkyboxSecurity! http://ow.ly/rOlK30oTqFp

PR CONTACT INFORMATION

Victoria Davis Schmidt
Corporate Communications for Skybox Security
+1 571 340 0181 | Victoria.Schmidt@skyboxsecurity.com

Allison + Partners for Skybox Security
United Kingdom: Daniel Couzens
+44 (0)20 7437 0227 | danielc@allisonpr.com

Germany: Stephanie Thoma
+49 (0)89 388 892 012| stephaniet@allisonpr.com

France: Xavier Delhôme
+33 1 41 31 75 09 | xavierd@allisonpr.com

Alliance Public Relations Pvt. Ltd.
India: Meenakshi Lenka
+91-9810577773 | meenakshi@proalliancepr.com

ECRL – coordinated planning including scale-up of skilled local labour needed

SEREMBAN, The East Coast Rail Link mega project needs coordinated planning including a scale-up of skilled local labour if it is to become a success, according to an academician.

Malaysian Academic Associations Congress president Prof Datuk Dr Mohd Idrus Mohd Masirin said besides boosting the economy, the project, which is aimed at linking the east and west coasts of Peninsular Malaysia, is believed to have the potential to create local jobs.

The ECRL will establish a new rail route connecting Kota Bharu to Port Klang.

Detailed research and planning needs to be undertaken to ensure the country’s investments and resources which are ploughed into the project achieve maximum benefit, particularly the growth of jobs for graduates produced by the country’s institutions of higher learning, he told Bernama.

In this connection, institutions of higher learning, as well as technical and vocational training institutes, all played an important supporting role in the mega project, said Mohd Idrus, who is a professor at the Civil and Environmental Engineering Faculty at Universiti Tun Hussein Onn Malaysia (UTHM).

Mohd Idrus added that four institutions in particular, played a vital role in ensuring a ready supply of skilled graduates needed for infrastructure works to be undertaken under the ECRL project.

The four institutions are Universiti Tun Hussein Onn Malaysia (UTHM), Universiti Malaysia Pahang (UMP), Universiti Teknikal Malaysia Melaka (UTeM) and Universiti Malaysia Perlis (UniMAP), all of which form the Malaysian Technical University Network.

Mohd Idrus said a significant measure of the success of the mega project would be the benefits which the multi-billion dollar transportation system brings to the public, and this would require coordinated planning between all parties involved in the development of systems, the operator of such systems and local authorities, as well as all others involved in the construction and development of the project.

In this connection, the academic believes the concept of Transit-Oriented Development (TOD), which has long been used in countries such as Japan, Korea and China, should be adopted for the ECRL.

He said such a concept was still viewed as a novelty in Malaysia because of the perceived difficulty in persuading local authorities and related decision makers to contribute their funds towards the planning and development of the vicinity surrounding the proposed ECRL stations.

Mohd Idrus believes the adoption of the TOD concept here would help increase the number of people who would choose to commute via the ECRL and this would in turn contribute towards the viability of operations.

To further this aim, the development of the areas surrounding the 20 cities which have each been selected to house an ECRL station needs to be undertaken early, with such development including the establishment of residential areas, industries, commercial centres and local attractions.

He added that the rerouting of the ECRL’s 640km stretch to include Jelebu in Negeri Sembilan is an indication that the location has the potential to generate the required number of passengers.

At the same time, the move could also be seen as an effort to promote and develop Jelebu, as well as the wider Negeri Sembilan state.

On April 12, the Prime Minister’s Office (PMO) announced that the ECRL project would resume at a lower cost, as a result of a supplementary agreement signed by Malaysia Rail Link Sdn Bhd and China Communications Construction Company Ltd.

The PMO said the construction costs of the first and second phases on the project had been reduced from the original cost of RM65.5 billion to RM44 billion.

Source: BERNAMA (News Agency)

Viral video claiming diesel nozzle not dispensing fuel oil to be probed

MELAKA, The Melaka branch of the Domestic Trade and Consumer Affairs Ministry will investigate allegations on social media about a diesel-dispensing nozzle of a pump at a petrol station in Taman Merdeka, here, where no fuel oil is dispensed but the meter continues to climb.

Its director, Jaiya Abu, said the officer responsible had been directed to investigate the authenticity of the video.

We will investigate this matter after receiving the information, he told Bernama when contacted, here, today.

Yesterday, a 27-second long video uploaded by Facebook account user by the name Vince Leng, went viral after the user of the social media app claimed that the pump at the station was not dispensing diesel, whereas the reading of the sales volume and the amount of litres of diesel displayed continued to climb, even if the user does not press the trigger on the nozzle.

It is understood that the user had gone to the counter to get an explanation from the owner of the petrol station but the matter has not been resolved so far.

In the comment section of the video in question, other Facebook account users informed that a petrol station of the same company was having similar problems in Bemban, Jasin near here.

Source: BERNAMA (News Agency)

Viral video claiming diesel nozzle not dispensing fuel oil to be probed

MELAKA, The Melaka branch of the Domestic Trade and Consumer Affairs Ministry will investigate allegations on social media about a diesel-dispensing nozzle of a pump at a petrol station in Taman Merdeka, here, where no fuel oil is dispensed but the meter continues to climb.

Its director, Jaiya Abu, said the officer responsible had been directed to investigate the authenticity of the video.

We will investigate this matter after receiving the information, he told Bernama when contacted, here, today.

Yesterday, a 27-second long video uploaded by Facebook account user by the name Vince Leng, went viral after the user of the social media app claimed that the pump at the station was not dispensing diesel, whereas the reading of the sales volume and the amount of litres of diesel displayed continued to climb, even if the user does not press the trigger on the nozzle.

It is understood that the user had gone to the counter to get an explanation from the owner of the petrol station but the matter has not been resolved so far.

In the comment section of the video in question, other Facebook account users informed that a petrol station of the same company was having similar problems in Bemban, Jasin near here.

Source: BERNAMA (News Agency)

Charred body found in luxury yacht fire in Langkawi

ALOR SETAR, An Indonesian man was found charred while four others suffered breathing difficulties after a luxury yacht in the boatyard in Bukit Malut, Langkawi caught fire yesterday.

Kedah Fire and Rescue Department operation assistant director, Senior Supt Mohamadul Ehsan Mohd Zain said the department received a call at 2.56 am yesterday (June 5) and rushed to the location.

In the incident, five Indonesian workers comprising four men and a woman were in the double-storey luxury yacht. Upon arrival at the scene, firemen found the flame had spread and it was successfully extinguished at 8.25 am yesterday.

Four victims who had breathing difficulties were brought to Sultanah Maliha Hospital, Langkawi for further treatment and the operation to search for one more missing victim was carried out until this evening, he said in a statement here today.

He said fire fighters had to use an excavator to assist in finding the victim buried under a pile of burnt materials in the vessel and a K9 (Dog) unit was brought to the location.

The charred body of the victim was found at 7.12 pm tonight by the K9 Unit and the remains were brought out and sent to the same hospital. The operation was completed at 8.16 pm tonight, he said.

Source: BERNAMA (News Agency)

Cops investigating burnt car incident caused by firecrackers

KOTA BAHRU, The police will be carrying out further investigations into an incident here in which a car caught fire after firecrackers were thrown inside the vehicle.

Kota Bahru district police chief, ACP Abdul Rahim Daud said the police have received a report on the Tuesday night (June 4) incident and the case is being investigated under Section 435 of the Penal Code for causing mischief by fire.

“The police are still investigating with the help of the Kelantan Fire and Rescue Department’s forensic unit to confirm whether the fire was caused by the firecrackers or due to other causes.

“We strongly warn all parties not to play with firecrackers because it is an offence and can be dangerous,” he said when contacted today.

He said the police would take strong action against anyone who played with firecrackers.

“The police have set up a special team to monitor and take action regarding this,” he said.

A video of the Perodua Kancil car up in flames have gone viral on social media after the midnight incident said to be the work of a group of individuals.

The firecrackers then exploded, setting off sparks that eventually caused the fire.

Source: BERNAMA (News Agency)