Daily Archives: September 28, 2020

Altus Group Report Reveals Pandemic Fueling Wait-and-See Approach by Global Property Developers While Accelerating Digital Transformation

Uncertainty from COVID-19 intensifying cost escalation, trade and labour shortages, and investment risks for global property development industry

TORONTO, Sept. 28, 2020 (GLOBE NEWSWIRE) — Altus Group Limited (“Altus Group”) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, today released the Altus Group Global Property Development Trends Report, which provides an outlook of the property development industry navigating through the disruption from the current global pandemic and delivers insight into the key business imperatives developers are implementing to build resilience in the new normal.

According to the report, which is based on a global survey of over 400 property development executives along with in-depth interviews with top industry leaders, the pandemic has been a catalyst for change in the development industry by accelerating trends, intensifying challenges and renewing the urgency for digital transformation and technology adoption.

“It’s evident from the report that the global development sector is facing a complex set of challenges due to long-term market pressures, many of which are exacerbated by the pandemic and its evolving impacts,” said Scott Morey, Executive Director at Altus Group. “However, the industry is recognizing opportunities balanced with a cautious approach while leveraging digital-based solutions as a foundation to help carry it through this period of uncertainty and into the recovery stage.”

Current market forces, combined with COVID-19, creating significant uncertainty leading to a waitandsee approach

  • 67% of development executives said tenant/occupier expectations and preferences have a major influence on development planning. This is compounded by the role the pandemic is currently playing in the built environment as occupancy use and building design now have the potential to significantly evolve and impact the market.
  • 74% said public sector infrastructure investment (such as transit hubs) has a major influence on development planning. While shorter-term pandemic support is a current priority in many regions around the world, this suggests future economic recovery plans stemming from new government investment in public infrastructure will continue to be a major factor in development planning.
  • 68% said that the risk of a cycle downturn has a significant impact on their decisions regarding new construction investments, with distressed asset acquisitions (57%) and change in asset/portfolio mix (66%) viewed as more of a risk than an opportunity during a cycle downturn. These factors are all contributing to many development leaders taking a wait-and-see approach.

In addition, many executive respondents expressed surprise that significant distressed asset opportunities have not yet emerged, despite the heightened level of economic disruption caused by the pandemic. While this could be a signal that the worst is yet to come as signs of a COVID-19 second wave emerge, development executives appear to be continuously evaluating conditions and waiting for more opportunities to arise.

Pandemic intensifies top challenges facing development firms – including disruption to construction sites

  • 73% of development executives said project cost escalation is a significant challenge facing development firms, followed by environmental regulations (70%), government policies and processes (65%), and trade and labour shortages (65%).
  • COVID-19 has amplified existing challenges with increased trade and labour shortages, physical distancing requirements on construction sites impacting productivity, construction site halts in certain regions, and the complexity of government policies and processes.

Recognition that adoption of digital transformation and technology must be fast-tracked
With so much unknown due to the pandemic, there has been a shift in recognition among development industry leaders that the adoption of technology can help development firms stay agile and navigate what lies ahead. The findings suggest that development executives are broadly acknowledging that digital transformation strategies and tools are the key to building resiliency for the industry in a prolonged and sustained development crisis.

  • 52% of development executives are considering or planning to use digital transformation strategies to mitigate business challenges, and 37% are already doing so.
  • 56% are considering or planning to use data analytics to mitigate business challenges, and 28% are already doing so.

The Altus Group Global Property Development Trends Report is based on a global quantitative survey of 404 property development C-level and senior executives in both front and back office positions at property development firms and owner operators and owner investors with property development divisions in North America, Europe, Middle-East, Asia-Pacific and Latin America. The survey research was supplemented by a series of in-depth interviews with senior development executives. All participating firms had a development pipeline equivalent to at least $200 million USD under development at the time of the survey. The survey research used to help form the basis of the report was conducted by leading international research firm, IDC, in early 2020 and the in-depth interviews were conducted by IDC in late July 2020.

A copy of the full report can be downloaded at www.altusgroup.com/property-development-trends.

About Altus Group Limited

Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,200 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include many of the world’s largest commercial real estate industry participants. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the Toronto Stock Exchange under the symbol AIF.

For more information on Altus Group, please visit: www.altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Altus Group Limited
Jeff Hayward
Vice President, Global Marketing & Communications
jeff.hayward@altusgroup.com

Proof Strategies Inc.
Sabena Singh
ssingh@getproof.com

FTI Consulting
Phil Kennedy
altus@fticonsulting.com

Novavax to Present COVID-19, Influenza and RSV Candidate Vaccine Data at World Vaccine Congress Washington 2020

GAITHERSBURG, Md., Sept. 28, 2020 (GLOBE NEWSWIRE) — Novavax, Inc. (Nasdaq: NVAX), a late stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced that it will present on its lead vaccine candidates, NVX-CoV2373, NanoFlu™ and ResVax™, the Company’s COVID-19, influenza and respiratory syncytial virus (RSV) vaccines. The presentations are part of the 2020 World Vaccine Congress Washington, taking place virtually September 28-October1, 2020.

Gregory Glenn, M.D, President of Research & Development, and Vivek Shinde, M.D., Vice President, Clinical Development, will join global public health, epidemiology, regulatory and industry leaders to share expertise and the latest research related to the SARS-CoV-2 virus and vaccine development to address global health.

September 28
Presentation Title: Recombinant nanoparticle COVID-19 vaccine: Platform technology for EID (Emerging Infectious Diseases)
Time: 2:35 p.m. ET
Presenter: Dr. Gregory Glenn
October 1
Presentation Title: Phase 3 and beyond: Maternal RSV & older adult influenza vaccine program
Time: 8:30 am ET
Presenter: Dr. Gregory Glenn
Presentation Title: New Phase 3 NanoFlu data (features new Cell-mediated Immunity data)
Time: 4:50 pm ET
Presenter: Dr. Vivek Shinde

For more information on the congress or to register, please click here.

About NVX-CoV2373
NVX-CoV2373 is a vaccine candidate engineered from the genetic sequence of SARS-CoV-2, the virus that causes COVID-19 disease. NVX-CoV2373 was created using Novavax’ recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and contains Novavax’ patented saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies. NVX-CoV2373 contains purified protein antigens and cannot replicate, nor can it cause COVID-19. In preclinical trials, NVX-CoV2373 demonstrated indication of antibodies that block binding of spike protein to receptors targeted by the virus, a critical aspect for effective vaccine protection. In its the Phase 1 portion of its Phase 1/2 clinical trial, NVX-CoV2373 was generally well-tolerated and elicited robust antibody responses numerically superior to that seen in human convalescent sera. NVX-CoV2373 is also being evaluated in a Phase 3 trial in the UK and two ongoing Phase 2 studies, which began in August; a Phase 2b trial in South Africa, and a Phase 1/2 continuation in the U.S. and Australia. Novavax has secured $2 billion in funding for its global coronavirus vaccine program, including up to $388 million in funding from the Coalition for Epidemic Preparedness Innovations (CEPI).

About ResVax
ResVax is an RSV fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant. It is being developed to protect infants from RSV disease via maternal immunization, which may offer the best method of protection from RSV disease in infants through the first months of life. ResVax is being evaluated in Prepare™, a global Phase 3 clinical trial in 4,636 pregnant women, at least 3,000 of whom received the vaccine, and their infants. Prepare is supported by an $89.1 million grant from the Bill & Melinda Gates Foundation (BMGF).

About NanoFlu
NanoFlu is a recombinant hemagglutinin (HA) protein nanoparticle influenza vaccine produced by Novavax in its SF9 insect cell baculovirus system. NanoFlu uses HA amino acid protein sequences that are the same as the recommended wild-type circulating virus HA sequences. NanoFlu contains Novavax’ patented saponin-based MatrixM adjuvant.

About Novavax
Novavax, Inc. (Nasdaq:NVAX) is a late-stage biotechnology company that promotes improved health globally through the discovery, development, and commercialization of innovative vaccines to prevent serious infectious diseases. Novavax is undergoing clinical trials for NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults. Both vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant in order to enhance the immune response and stimulate high levels of neutralizing antibodies. Novavax is a leading innovator of recombinant vaccines; its proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles in order to address urgent global health needs.

For more information, visit www.novavax.com and connect with us on Twitter and LinkedIn.

Contacts:
Investors
Silvia Taylor and Erika Trahan
ir@novavax.com
240-268-2022

Media
Brandzone/KOGS Communication
Edna Kaplan
kaplan@kogspr.com
617-974-8659

Libyan Investment Authority concludes first phase of transformation programme

Libyan Investment Authority concludes first phase of transformation programme

LIA Chairman Dr Ali Mahmoud meets with Oliver Wyman representatives (September 2020)

LONDON and TRIPOLI, Libya, Sept. 28, 2020 (GLOBE NEWSWIRE) — The Libyan Investment Authority (LIA), Africa’s largest sovereign wealth fund, has announced the conclusion of the first phase of its comprehensive Transformation Programme, a major strategic mechanism for institutional development. The key milestone was marked in the presence of the International Forum of Sovereign Wealth Funds (IFSWF), a global network of close to 40 SWF, and international experts, as well as the directors of its subsidiaries and affiliated investment portfolios.

Phase one of the strategic programme focused on the design and adoption of an operational mechanism to boost working efficiency, ensure internal transparency, control and governance, as well as compliance with the Santiago Principles.

The first phase saw the LIA adopt an organisational structure that meets all set objectives, and better supports its long-term strategy. It also covered the creation and deployment of a comprehensive package of financial and investment policies and regulations, as well as internal control systems that are in line with the best practices of sovereign wealth funds around the world.

As a result, the LIA is now advancing with a clear strategy and well-defined roadmap, with a system in place to measure success and ensure continued progress. Clear authorities, decision making protocols and reporting lines have also been institutionalised.

Following the completion of the first phase of the Transformation Programme, the LIA’s compliance rating with the Santiago Principles has climbed to 20 points out of a possible 24 (a substantial increase from just six points in mid-2019).

The implementation of this all-encompassing strategic initiative will enable the LIA to manage its international assets with optimal effectiveness in line with the best practices of international sovereign wealth funds, while operating well within the United Nations’ sanctions framework.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/69f3aba9-b5c0-4406-b0b5-ff3e87ec476c

Media Contact:
Mr. Ismail Ayan
Media Relations Manager
LIA.i.ayan@lia.ly

CNH Industrial announces change to Board of Directors

London, September 28, 2020

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that Nelda J. Connors, an independent member of the board of directors of CNH Industrial N.V. (the “Board”) and member of its Audit Committee, has decided to step down with immediate effect.

“I have greatly enjoyed my tenure with CNH Industrial. It has become evident, however, that owing to multiple existing executive obligations, I did not feel I was able to dedicate sufficient time to appropriately follow my commitments to the Company’s board,” said Ms. Connors.

CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

Contacts:

Corporate Communications

Email: mediarelations@cnhind.com

Investor Relations

Email: investor.relations@cnhind.com

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