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Daily Archives: July 2, 2019

Metals.com Resolves All Issues With The Texas State Securities Board

BEVERLY HILLS, Calif., July 02, 2019 (GLOBE NEWSWIRE) — Metals.com has resolved all issues with the Texas State Securities Board (TSSB) related to the initial order that the TSSB filed on May 1, 2019.

The agreement to dismiss the initial order was filed on July 1, 2019, in an Agreed Order in which the TSSB found the following:

  • Metals.com trains its employees on legal compliance;
  • Metals.com has policies that prohibit employees from providing investment advice;
  • Metals.com does not permit cold calling; and
  • Metals.com does not permit the targeting of any demographic group.

The TSSB also dismissed similar allegations against individual employees Walter Vera, Michael Kendall, and Athena Hunter, with no penalties or fines.

Notably, TSSB did not impose a fine and acknowledged that “as a measure of good faith and demonstration of its commitment to complying with the law,” Metals.com would enhance its existing compliance program.

Metals.com also agreed to offer an extension of what it has already offered for over ten years with its best in class rescission and commitment to total customer experience satisfaction – a continuation of what is already the most extensive policy in the metals industry.

Metals.com retained the law firm of Jones Day, founded in 1893, to advise on this matter as well as in all matters related to legal compliance.

Metals.com believes in the metals it distributes from the United States Government Mint, Canadian Mint, and the British Royal Mint products, and in its record of unparalleled success in the metals industry. Over its 10-year history, Metals.com has become one of the country’s largest sellers of precious metals and enjoys top consumer ratings for customer satisfaction and low pricing. Metals.com is committed to abiding by all laws, maintaining the highest standard of ethics, and ensuring the continued satisfaction of its customers. It will use this opportunity to further enhance this commitment as a global leader in the metals industry.

Andrew Marsh
(212) 542-3146

AgroSavfe appoints Patrice Sellès as new Chief Executive Officer and further strengthens leadership team

  • Patrice brings over 20 years of leadership experience in the Food and Crop Protection sector
  • Luc Maertens appointed Chief Operations Officer
  • Significantly strengthened AgroSavfe’s leadership team to further support accelerated growth of the Company

GHENT, Belgium, July 02, 2019 (GLOBE NEWSWIRE) — AgroSavfe NV, a rapidly growing and transformative AgTech company developing next generation AGROBODY™-based biocontrols, today announces the appointment of Patrice Sellès as new Chief Executive Officer (CEO). In addition, Luc Maertens has been appointed Chief Operations Officer (COO).

Patrice joins AgroSavfe from Syngenta, a leading agriculture company, where he spent more than 17 years in various international executive leadership and scientific positions, as Global Head R&D Strategic Portfolio and Performance, but also as venture investment manager. Patrice held his positions both in Europe and in the US.

Building on the proprietary AGROBODY Foundry™ Platform, Luc Maertens will head the full development of the rapidly expanding proprietary product pipeline as Chief Operations Officer. In this position, Luc will lead the coordination and execution of the Company’s programs from product design through to development and regulatory submissions as well as the commercial scale manufacturing.

Lieven De Smedt, Chairman of the Board of Directors, commented: “We are very pleased that Patrice is joining us as new CEO to bring AgroSavfe to the next level in the international markets. He thoroughly understands the Agro Industry dynamics thanks to his 20-year track record in various leadership roles, including portfolio and investment strategy development and execution, and business development. His expertise will be invaluable as we enter an important new phase and are starting to prepare the launch of our first product, expected in 2022.”

Patrice Sellès, CEO of AgroSavfe, said: “I am thrilled to have been offered the opportunity to lead AgroSafve at this important stage. Over the past few years, the team has de-risked a unique technology platform and developed a promising pipeline and I am excited to build on this success with our fantastic team in Ghent. I look forward to engaging with our stakeholders and supporting the company in becoming a strong and substantial business for the long term, addressing the many challenges currently facing worldwide agriculture and food production.”

About AgroSavfe

The growing demand for healthy, safe and sustainable food has increasingly imposed restrictions on agricultural practices. Therefore, improving food production efficiency in a sustainable way, while safeguarding the environment and its natural resources, is essential.

AgroSavfe has the ambition to contribute to a sustainable production of safe and healthy food. The Company is focused on the discovery, development and commercialization of effective and safe biocontrols to tackle plant pests and diseases using its ground-breaking, scalable, proprietary AGROBODY Foundry™ Platform.

AgroSavfe’s products are a novel class of biocontrols based on AGROBODY™ bioactive proteins that effectively and selectively target pests’ and pathogens’ essential molecules. AGROBODY™ bioactives combine the high-performance characteristics of chemicals with the clean safety profile of biologicals, making them ideal crop protection agents for both pre- and post-harvest applications.

Based on its unique AGROBODY™ platform, AgroSavfe has built a versatile product pipeline against key pests and diseases, with the first product expected to enter the US market in 2022.

The Company was founded in 2013 as a spin-off from the VIB (Flemish Institute for Biotechnology) and is based in the biotech cluster in Ghent, Belgium. More information can be found on www.agrosavfe.com.

For further information, please contact

Corporate Communications & Investor Relations
Marieke Vermeersch, M.V.LifeSci Consulting for AgroSavfe
T: +32 (0)9 261 06 84
E: marieke.vermeersch@agrosavfe.com

Power outages: We’ll go after you – warns SEB

MIRI Sarawak Energy Berhad (SEB), the state’s sole power provider today cautioned contractors against damaging underground cables and causing power outages.

Chief executive officer of SEB subsidiary Syarikat Sesco Bhd Lau Kim Swee said SEB would charge the contractors for repair works and prosecute them in court.

Awareness from contractors on safety at work site is still very low. We have recorded more than 350 cases since 2016 of damages due to excavation or construction related works, with damages amounting to RM3 million as at March this year, he said in a statement tonight.

He said the latest power outage due to damaged underground cable occurred at 7.30 pm yesterday and was related to pole erection works carried out for a telecommunication company near the airport substation.

The disruption affected Miri Airport, Taman Tunku housing estate and surrounding areas but was quickly fixed by SEB’s technical team in Miri within 15 minutes.

“Evidence from the site investigation indicated that the works had damaged the underground cable, causing the substation to trip,” Lau said.

To avoid such incidents, he advised contractors to check electricity cable routes before starting any work that involved excavation, and not to assume the location or depth of the underground cables.

“SEB staff have been taking proactive measures to mitigate this issue by visiting construction sites, advising contractors to check before they excavate, notices and reminders are also issued to contractors as part of the preventive measures and we also conduct awareness campaigns through the media, he said.

He said contractors could contact SEB at 1300-88-3111 or email at customercare@sarawakenergy.com.my for assistance to check on cable routes before starting their excavation works.

Source: BERNAMA (News Agency)

Atrium REIT to acquire land in Selangor for RM45 mln

KUALA LUMPUR, Atrium Real Estate Investment Trust’s (REIT) trustee, Pacific Trustees Bhd, has accepted an offer to acquire a piece of industrial land measuring 1.62 hectares in Shah Alam, Selangor for RM45 million.

In a filing with Bursa Malaysia today, Atrium REIT said the letter of offer from Permodalan Nasional Bhd was for a leasehold land along with a single-storey factory building and ancillary area.

The acquisition is expected to be funded through a combination of internal generated funds, bank borrowings and proceeds to be raised from a fund raising exercise to be undertaken by Atrium REIT.

The acquisition is in line with Atrium REIT’s investment objectives and growth strategy to provide unit holders with stable income distribution and to achieve long-term growth in its net asset value per unit, it said.

Source: BERNAMA (News Agency)

Cypark unit plans to launch RM550 mln sukuk programme to finance solar projects

KUALA LUMPUR, Cypark Resources Bhd’s wholly-owned subsidiary plans to issue a sustainable and responsible investment (SRI) Sukuk Murabahah programme of up to RM550 million in nominal value to finance its solar power plant projects.

The integrated renewable energy group said Cypark Ref Sdn Bhd’s sukuk issued under the programme will have a tenure of up to 22 years commencing from the date of the first issuance.

The proceeds from the issuance will be used to part finance the design, engineering, procurement, construction and commissioning, ownership, operation and maintenance of three 30-MWAC (megawatt, alternating current) solar photovoltaic power plant projects, it said in a filing to Bursa Malaysia today.

It will also be used to finance the profit payments of the sukuk during the construction period and to pre-fund the initial minimum required balance to be deposited into the Finance Service Reserve Account, as well as to defray expenses incurred in relation to the sukuk issuance.

Maybank Investment Bank Bhd is the principal adviser, lead arranger and lead manager for the sukuk programme.

The investment bank has lodged with the Securities Commission Malaysia today all information relating to the sukuk programme under the Commission’s Guidelines on Unlisted Capital Market Products.

Source: BERNAMA (News Agency)

Kao Malaysia aims for double-digit growth this year

KUALA LUMPUR, Kao (M) Sdn Bhd (Kao Malaysia), a subsidiary of Japan’s Kao Corporation, targets double-digit growth in sales this year and in 2020, boosted by its skin care brands.

Kao Malaysia president Masaki Fujiwara said the company registered sales growth of 30 per cent last year despite the weaker consumer sentiment following the re-introduction of the Sales and Service Tax on Sept 1.

Year-to-date, Kao Malaysia has achieved five per cent sales growth for cleanser, skin care, ultra-violet (UV) protection and make-up remover cleanser products.

We also aim to strengthen our net sales growth in the Malaysian market, especially for women skincare products, he told Bernama after the launch of the new Biore UV Aqua Rich Watery Essence with the world’s first Micro UV Defence formula here today.

The improved Biore Aqua Rich UV series now strives to deliver both light textures made suitable for daily usage yet provides optimal UV protection up to the skin’s microscopic level.

In Malaysia, Kao brands have grown over the years in the beauty care, home care and sanitary industries. The company markets a wide range of products and brands such as Curel, Biore, Liese, Attack, Magiclean, Laurier, Merries and MegRhythm.

Going forward, Fujiwara said Kao Malaysia would focus on offering value-added products for consumers to increase sales.

For Kao, not only for Japan and Malaysia but globally, we always strive for innovation to invent better products, and we will continue to do that, especially for ladies, he said.

Source: BERNAMA (News Agency)

Asia Poly ventures into F and B sector

KUALA LUMPUR, Cast acrylic sheet manufacturer, Asia Poly Holdings Bhd (APHB), has ventured into the food and beverage (F and B) segment with the signing of a shareholders agreement with Uncle Don’s Holdings Sdn Bhd.

In a filing with Bursa Malaysia today, APHB said under the joint venture, APHB would hold a 49 per cent stake in the joint venture company (JVC), while Uncle Don’s would own the remaining 51 per cent.

Uncle Don’s , through its subsidiary, D and D Food and Beverages Sdn Bhd, would grant the JVC a non-exclusive licence and rights to use the proprietary marks and to operate new Uncle Don’s restaurants.

“The agreement would facilitate the cooperation between the company and Uncle Don’s to undertake the business, which is in line with the company’s business plan to venture into the F and B sector.

“The company would benefit from Uncle Don’s and D and D Food and Beverages’ established track record in the F and B sector and their expertise in operating F and B business,” it said, adding that the new venture was expected to contribute positively to the group’s future earnings and net assets.

Source: BERNAMA (News Agency)