Day: May 31, 2022

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Azerion publishes Interim Unaudited Q1 2022 Results

Strong growth and delivery while going public

Highlights of Q1 2022 

  • Net Revenue of over EUR 94 million, more than doubling Q1 2021, mainly driven by strong growth in the Platform segment.
  • Adjusted EBITDA of nearly EUR 6 million, up 118% compared to Q1 2021, primarily boosted by the Premium Games segment.
  • Expanded the partnership with Ubisoft, adding 10 exclusive titles, following the successful development, release and distribution of Hungry Shark Arena
  • Completed the integration of Habbo Avatars collection, offering unique playable Avatars in the Habbo metaverse.
  • Announced the acquisition of digital marketing company Infinia, bolstering our media platform capabilities, sales force and volumes in Spain and Latin America.
  • In May, we won the Digital Media Owners Spring Award as number one media owner, surveyed by the Institute of Practitioners in Advertising in the UK.

Financial Overview

Financial results (EURm) Pro forma
Azerion Holding B.V. Q1 2022 Q1 2021 LTM
Net Revenue 94,4 45,5 403,2
COGS (61,5) (30,6)
Gross profit 32,8 15,0
Operating & Other Expenses (44,9) (18,1)
Operating profit / (loss) (12,1) (3,1)
EBITDA (3,9) 1,7
Adjusted EBITDA  5,9 2,7 53,5
Revenue growth, % 107,3%
Gross margin, % 34,8% 32,9%
Adjusted EBITDA growth, % 117,6%
Adjusted EBITDA margin, % 6,2% 5,9% 13,2%

Co-CEO Umut Akpinar said:

“This quarter demonstrated our capacity to deliver results while completing our listing on Euronext Amsterdam. Our financial performance continued to improve and, despite macroeconomic volatility, we remain confident in our guidance to deliver at least EUR 450 million revenue this year. We will continue integrating our acquisitions and further drive volumes across our owned and operated platform.”

Co-CEO Atilla Aytekin said:

“Listing Azerion was an important milestone for our company, welcomed by our clients and partners, who increasingly approach us with business propositions. Our market continues to consolidate and we remain actively working on our acquisition funnel to complement our organic growth with more volume, capabilities and technology. As we continue to mature our M&A pipeline, we will consider a variety of options to fund acquisitions, including raising equity.”

Financial overview Q1 2022

Revenue

Revenue for the quarter amounted to EUR 94.4 million, an increase of EUR 48.9 million, or 107.3%, compared to Q1 2021. This reflects higher revenue from both the Platform and Premium Games segments.

Earnings

We delivered EUR 5.9 million adjusted EBITDA for the quarter compared to EUR 2.7 million in Q1 2021, an increase of EUR 3.2 million.

The loss before tax amounted to EUR 17.6 million compared to a loss of EUR 5.1 million in Q1 2021. Non-recurring items amounted to a net charge of EUR 9.8 million, mostly related to early exercise of share appreciation rights.

Cash flow 

Our cash flow from operating activities in Q1 2022 was an inflow of EUR 6.5 million. Cash flow from investing activities was an outflow of EUR 8.2 million, mainly due to capital expenditures. Cash flow from financing activities totalled an inflow of EUR 9.0 million, mainly reflecting a capital contribution from Azerion Group N.V.

Capex 

We capitalize development costs related to asset development, a core activity to support innovation in our platform. These costs primarily relate to developers’ time devoted to the development of games, platforms, and other new features. In Q1 2022 we capitalized EUR 3.9 million, equivalent to 17.5% of personnel costs.

Acquisitions

During Q1 2022 we announced the acquisition of Infinia, which completed in April 2022.

Financial position and financing

Our net interest-bearing debt amounted to EUR 185.3 million as at 31 March 2022, mainly comprising our outstanding bond loan with a nominal value of EUR 200 million (part of an in total EUR 300 million framework) and lease liabilities with a balance of EUR 19.0 million less the cash and cash equivalents position of EUR 42.6 million.

Segment information

Platform 

Our Platform segment includes casual games distribution, advertising and e-Commerce, which are fully integrated through our technology. It generates revenue mainly by displaying digital advertisements in both game and non-game content, as well as selling and distributing AAA games through our e-commerce channels. Platform is also integrated with our Premium Games segment, leveraging inter-segment synergies.

Platform Financial Highlights 

Financial results (EURm)
Platform Q1 2022 Q1 2021
Net Revenue 72,5 34,2
COGS (50,2) (24,3)
Gross profit 22,3 9,9
Operating & Other Expenses (33,8) (13,2)
Operating profit / (loss) (11,5) (3,3)
EBITDA (6,4) 0,7
Adjusted EBITDA  2,0 1,2
Revenue growth, % 111,8%
Gross margin, % 30,8% 29,1%
Adjusted EBITDA growth, % 64,6%
Adjusted EBITDA margin, % 2,7% 3,5%

Financial data for Q1 2021 has been revised to reflect reporting segments adopted as of Q3 2021

Platform revenue was EUR 72.5 million in Q1 2022, an increase of 111.8% compared to Q1 2021, mainly due to acquisitions. Gross margin remained at a similar level as in Q1 2021. Adjusted EBITDA was EUR 2.0 million in Q1 2022, an increase of 64.6% compared to Q1 2021.

Besides the impact of acquisitions, the improved financial performance reflects increased quality and quantity of the casual games distribution portfolio, achieved through exclusive partnerships and organic influx of content providers. New quality content and continuous adaptation of existing titles contributed to an increase in revenue compared to Q1 last year. During Q1 2022 we added approximately 745 new titles to our casual games distribution portfolio. In addition, we added 20 new publisher partners to our network to facilitate growth in key markets.

Advertising – Selected KPIs

Advertising Selected KPIs Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021
Avg. Digital Ads Sold per Month (bn) 4.4 4.9 4.3 3.2 2.9
Avg. Gross Revenue per Million Ad Requests (EUR) 6.10 9.73 7.14 6.72 3.66
  • Avg. Digital Ads Sold per Month: the average number of paid impressions per month increased to 4.4 billion from 2.9 billion in Q1 2021, reflecting significant growth in the advertising business.
  • Avg. Gross Revenue per Million Ad Requests: Average gross revenue per million ad requests was EUR 6.10 in Q1 2022, compared to EUR 3.66 in Q1 2021.

Premium Games

Our Premium Games segment includes social games and metaverse, comprising nine premium game titles. The segment generates revenue mainly by offering users the ability to make in-game purchases for extra features and virtual goods to enhance their gameplay experience. The aim of this segment is to stimulate social interaction among players and build communities.

Premium Games Financial Highlights

Financial results (EURm)
Premium Games Q1 2022 Q1 2021
Net Revenue 21,8 11,3
COGS (11,3) (6,3)
Gross profit 10,5 5,0
Operating & Other Expenses (11,0) (4,8)
Operating profit / (loss) (0,6) 0,1
EBITDA 2,5 1,3
Adjusted EBITDA  3,9 1,5
Revenue growth, % 93,7%
Gross margin, % 48,0% 44,2%
Adjusted EBITDA growth, % 151,9%
Adjusted EBITDA margin, % 17,7% 13,6%

Financial data for Q1 2021 has been revised to reflect reporting segments adopted as of Q3 2021

Premium Games revenue was EUR 21.8 million in Q1 2022, an increase of 93.7% compared to Q1 2021. Gross margin increased to 48.0% from 44.2% in Q1 2021. Adjusted EBITDA was EUR 3.9 million in Q1 2022, an increase of 151.9% compared to Q1 2021.

The improved financial results reflect the acquisition of Whow Games and lower user acquisition costs. Results were also positively impacted by stronger performance of Governor of Poker 3 and Hotel Hideaway driven by a combination of new features, virtual goods and improved events in Hotel Hideaway. We also promoted our Premium Games with TV commercials in France for Governor of Poker 3, integrated Teletubbies-branded avatars in Hideaway and Habbo, and improved first-time user experience in Governor of Poker 3.

Results also benefited from the expansion of Web 3.0 with the integration of the Habbo Avatars NFT collection, which offers unique playable Avatars, airdrops towards owners and the feature to sell unique in-game usable NFT furniture, in the Habbo metaverse.

Premium Games – Selected KPIs 

Premium Games Selected KPIs Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021
Avg. Time in Game per Day (min) 82 80 79 79 79
Avg. DAUs (thousands) 604 599 616 693 696
Avg. ARPDAU (EUR) 0.38 0.42 0.37 0.34 0.33

Note: Whow Games included for the full historical period for comparability purposes

  • Avg. Time in Game per Day: time spent playing our Premium Games continued to grow steadily, mainly due to improved first time user experience and continuous improvement of live operations.
  • Avg. DAUs: Daily Active Users increased by 1% compared to Q4 2021, following the reset of number of users post Covid-19 elevated levels.
  • Avg. ARPDAU: Average Revenue per Daily Active User decreased compared to Q4 2021, due to seasonality. Compared to Q1 2021, ARPDAU increased from EUR 0.33 to EUR 0.38, primarily driven by improved live operations with better events and promotions.

Background information: Azerion Holding B.V. and Azerion Group N.V. 

Azerion Holding B.V. is the main holding subsidiary of Azerion Group N.V., formerly known as EFIC1. The Azerion Holding B.V. Interim Unaudited Financial Results Q1 2022 are released as required by the terms and conditions of the listed Senior Secured Callable Fixed Rate Bonds (ISIN: SE0015837794).

The first consolidated financial results for the post business combination Azerion Group N.V. will be the half year 2022 interim financial results, further details for which will follow closer to the time.

Condensed Consolidated financial statements (unaudited)

The condensed consolidated financial statements have been prepared in accordance with IFRS.

Condensed consolidated statement of profit or loss and other comprehensive income (EURm)   Q1 2022 Q1 2021
 
Revenue 94,4 45,5
Costs of services & materials (61,5) (30,6)
Gross profit   32,8 15,0
Personnel costs (18,6) (8,9)
Depreciation (1,6) (1,0)
Amortization (6,5) (3,5)
Impairment of non-current assets – –
Other gains and losses (9,3) (0,3)
Other expenses (8,9) (4,5)
Operating profit / (loss)   (12,1) (3,2)
Finance income 0,4 0,7
Finance costs (5,9) (2,7)
Net finance costs   (5,5) (2,0)
Share in profit / (loss) of joint venture – –
Profit / (loss) before tax   (17,6) (5,1)
Income Tax expense (0,7) (0,1)
Profit / (loss) for the period   (18,3) (5,2)
Attributable to:
Owners of the company (18,0) (4,7)
Non-controlling interest (0,2) (0,4)
     
Profit / (loss) for the period   (18,3) (5,2)
   
     Exchange difference on translation of foreign operations (0,4) 4,5
     Remeasurement of net defined benefit liability 0,0 0,1
       
Total comprehensive income for the period   (18,6) (0,6)
Total comprehensive (loss) / income attributable to:  
Owners of the company (17,9) 0,2
Non-controlling interest (0,7) (0,8)
Condensed consolidated statement of financial position (EURm)   March 31, 2022 December 31, 2021
 
Assets
Non-current assets 321,1 323,6
Intangible assets (incl. Goodwill) 262,6 264,8
Property, plant and equipment 19,1 18,5
Non-current financial assets 36,2 36,1
Deferred tax asset 3,2 4,2
Investment in joint ventures 0,0 0,1
Current assets 131,7 140,1
Trade and other receivables 76,5 91,3
Contract assets 11,6 12,1
Current tax assets 1,1 1,3
Cash and cash equivalents 42,6 35,3
Total assets 452,9 463,7
Equity
Shareholders’ equity (1,1) (8,6)
Non-controlling interest   1,4 1,7
Total equity 0,4 (6,9)
Liabilities
Non-current liabilities 258,3 260,2
Borrowings 198,8 199,0
Lease liabilities 13,9 14,3
Provisions 1,2 0,4
Employee benefits 1,0 1,0
Deferred tax liability 28,2 29,8
Other non-current liability 15,2 15,6
Current liabilities 194,2 210,5
Borrowings 5,5 6,8
Lease liabilities 5,1 4,7
Provisions 0,3 1,0
Trade and other payables 135,5 141,1
Other current liabilities 44,6 53,5
Contract liabilities 0,6 0,4
Current tax liabilities 2,6 3,0
Total liabilities 452,5 470,6
Total equity and liabilities 452,9 463,7
Condensed consolidated statement of cash flow (EURm) Q1 2022
Cash flows from operating activities
Operating profit / (loss) (12,0)
Adjustments for non-cash operating profit / (loss) 9,8
Changes in working capital items: 
Decrease / (increase) in net receivables 20,2
Increase / (decrease) in accounts payables and other payables (5,8)
Income tax paid (0,4)
Interest paid (5,3)
Net cash provided by (used for) operating activities 6,5
Cash flows from investing activities  
Net capital expenditures (5,6)
Decrease / (increase) in loans and other investments 0,0
Net cash outflow on acquisition of subsidiaries (2,6)
Net cash provided by (used for) investing activities (8,2)
Cash flows from financing activities  
Capital contributions 12,2
Other financing activities (3,2)
Net cash provided by (used for) financing activities 9,0
Effect of changes in exchange rates on cash and cash equivalents (0,0)
Effect of exchange rate changes & accounting principles (0,0)
Cash flow variation 7,3
Cash and cash equivalents at the beginning of the year 35,3
Cash and cash equivalents at the end of the period 42,6

Other information

Q1 2022    
Reconciliation of net income to Adjusted EBITDA (EURm) Azerion Holding B.V. Premium Gaming Platform
   
Profit / (loss) for the period (18,3)
Income Tax expense 0,7
Profit / (loss) before tax (17,6)
Net finance costs 5,6
Operating profit / (loss) (also called EBIT) (12,0) (0,6) (11,5)
Depreciation & Amortization 8,1 3,1 5,1
EBITDA (3,9) 2,5 (6,4)
Transition expenses – Capital Markets* 8,8 1,3 7,5
Other non-recurring income or expenses 1,0 0,1 0,9
 
Adjusted EBITDA 5,9 3,9 2,0
*Early exercised share-based appreciation rights
Interest Bearing Debt (EURm)   March 31,
2022		 December 31, 2021
Total non-current indebtedness                          212,7                          213,3
Total current indebtedness                            10,6                            11,5
Total financial indebtedness                          223,3                          224,8
Adjustments
Add Postponed VAT payables                              0,6                              0,5
Add Postponed Wage tax payable                              4,5                              3,2
Deduct Zero interest bearing loans                              0,6                              0,7
Interest Bearing Debt                            227,9                          227,8
Less: Cash and cash equivalents                          (42,6)                          (35,3)
Net Interest Bearing Debt                          185,3                          192,5

Cautionary Notice

This communication contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This communication may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Words and expressions such as believes, estimates, plans, projects, anticipates, expects, intends, may, will, should or other similar words or expressions are typically used to identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties and other factors that are difficult to predict and that may cause the actual results of the company to differ materially from future results expressed or implied by such forward-looking statements.

Any forward-looking statements reflect the company’s current views and assumptions based on information currently available to the company’s management. Forward-looking statements speak only as of the date they are made, and the company does not assume any obligation to update such statements, except as required by law.

This report has been prepared as required by the terms and conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794. This report has not been reviewed or audited.

Some financial positions, which have currently been assessed for Azerion Holding B.V. are likely to change as a result of the consolidation of the post business combination accounts of Azerion Group N.V., to be reported in the half year 2022 results on the dates indicated in our financial calendar at www.azerion.com/investors.

Certain financial data included in the report consists of alternative performance measures (“non-IFRS financial measures”), including EBITDA and Adjusted EBITDA. The alternative performance measures, along with comparable IFRS measures, are used by Azerion’s management to evaluate the business performance and are useful to investors. They may not be comparable to similarly-titled measures as presented by other companies, nor should they be considered as an alternative to the historical financial results or other indicators of Azerion Holding’s cash flow based on IFRS. Even though the alternative performance measures are used by management to assess the Azerion Holdings financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipients should not consider them in isolation or as a substitute for analysis of Azerion Holding’s financial position or results of operations as reported under IFRS.

Adjusted EBITDA as defined in the Definitions section of this Interim Report. For all definitions and reconciliations of alternative performance measures please also refer to www.azerion.com/investors. This report may contain forward-looking alternative performance measures. We are unable to provide a reconciliation of these forward-looking alternative performance measures to the most comparable IFRS financial measure because certain information is dependent on future events some of which are outside the control of the company.

Contact

Investor Relations: ir@azerion.com
Media relations: press@azerion.com

Definitions

Adjusted EBITDA means in all places other than in relation to Pro Forma LTM, in respect of the period, the consolidated profit of the Holding Group from ordinary activities according to the latest Financial Report(s):
(a) before deducting any amount of tax on profits, gains or income paid or payable by any member of the Holding Group;
(b) before deducting any Net Finance Costs;
(c) before taking into account any extraordinary items and any non-recurring items which are not in line with the ordinary course of business;
(d) before taking into account any Transaction Costs;
(e) not including any accrued interest owing to any Holding Group Company;
(f) before taking into account any unrealised gains or losses on any derivative
instrument (other than any derivative instruments which are accounted for on a
hedge account basis);
(g) after adding back or deducting, as the case may be, the amount of any loss or gain against book value arising on a disposal of any asset (other than in the ordinary course of trading) and any loss or gain arising from an upward or downward revaluation of any asset; and
(h) after adding back any amount attributable to the amortisation, depreciation or depletion of assets of members of the Holding Group

Adjusted EBITDA means in the context of Pro Forma LTM, EBITDA as defined in the terms and conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794, in respect of the Reference Period, the consolidated profit of the Holding Group from ordinary activities according to the latest Financial Report(s):

(a) before deducting any amount of tax on profits, gains or income paid or payable by any member of the Holding Group;
(b) before deducting any Net Finance Cost
(c) before taking into account any extraordinary items and any non-recurring items which are not in line with the ordinary course of business provided that such items are not in excess of an amount equal to ten (10) per cent. of EBITDA in the Reference Period;
(d) before taking into account any Transaction Costs;
(e) not including any accrued interest owing to any Holding Group Company;
(f) before taking into account any unrealised gains or losses on any derivative
instrument (other than any derivative instruments which are accounted for on a
hedge account basis);
(g) after adding back or deducting, as the case may be, the amount of any loss or gain against book value arising on a disposal of any asset (other than in the ordinary course of trading) and any loss or gain arising from an upward or downward revaluation of any asset;
(h) after deducting the amount of any profit (or adding back the amount of any loss) of any Holding Group Company which is attributable to minority interests;
(i) plus or minus the Holding Group’s share of the profits or losses of entities which are not part of the Holding Group; and
(j) after adding back any amount attributable to the amortisation, depreciation or depletion of assets of members of the Holding Group

Adjusted EBITDA Margin means Adjusted EBITDA as a percentage of revenue

ARPDAU means Average Revenue per Daily Active User – revenue per period divided by days in the period divided by average daily active users in that period

Average DAUs: DAUs means Daily Active Users and  average DAUs is the number of distinct users per day averaged across the relevant period

Azerion Holding means Azerion Holding B.V. and Holding Group means Azerion Holding and each of its subsidiaries from time to time and Holding Group Company means any of them

EBIT means, in respect of the period, the consolidated profit from ordinary activities according to the latest Financial Report(s):

(a) before deducting any amount of tax on profits, gains or income paid or payable by any member of the Group;
(b) before deducting any Net Finance Charges

EBITDA means, in respect of the period, the consolidated profit of the Holding Group from ordinary activities according to the latest Financial Report(s):
(a) before deducting any amount of tax on profits, gains or income paid or payable by any member of the Holding Group;
(b) before deducting any Net Finance Costs;
(c) before deducting any amount attributable to the amortisation, depreciation or depletion of assets of members of the Holding Group.

EFIC1 means European FinTech IPO Company 1 B.V.

Financial Indebtedness means as defined in the terms and conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794 any indebtedness in respect of:

  1. monies borrowed or raised, including Market Loans;
  2. the amount of any liability in respect of any Finance Leases;
  3. receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis);
  4. any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing;

Gross Margin means Gross Profit as a percentage of revenue

Gross Profit means the profit Azerion Holding B.V. makes after subtracting all (variable) costs that are related to manufacturing and selling its products or services. The gross profit can be calculated by deducting the cost of goods sold (COGS) from total sales.

Net Interest Bearing Debt as defined in the terms and conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794 means the aggregate interest bearing Financial Indebtedness less cash and cash equivalents of the Holding Group in accordance with the Accounting Principles (for the avoidance of doubt, excluding any Bonds owned by the Issuer, guarantees, bank guarantees, Subordinated Loans, any claims subordinated pursuant to a subordination agreement on terms and conditions satisfactory to the Agent and interest bearing Financial Indebtedness borrowed from any Group Company) as such terms are defined in the terms and conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794

Pro Forma LTM means the last twelve months Revenue or Adjusted EBITDA (as applicable) adjusted to include the contribution from companies or assets acquired during the last twelve months as if they had been acquired at the start of the last twelve months

Reference Period means as defined in the terms and conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794 each period of twelve consecutive calendar months

Transaction Costs means all fees, costs and expenses, stamp, registration and other taxes incurred by Azerion Holding or any other Holding Group Company in connection with (i) the Bond Issue, (ii), any Subsequent Bond Issue, (iii) the listing of the Bonds or any Subsequent Bonds, (iv) acquisitions, mergers and divestments of companies and (v) an Equity Listing Event, as such terms are defined in the terms and conditions of the Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794

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New collaboration establishes Joint Analytical Cell in major step forward for fisheries monitoring and enforcement

International organizations aim to transform global ocean governance by enabling access to data, technology and analytics at scale

Washington, D.C., May 31, 2022 (GLOBE NEWSWIRE) — A new collaboration aims to boost equitable access to vital fisheries intelligence, data analysis and capacity building assistance to help developing maritime States combat illegal, unreported and unregulated fishing. Founded by the International Monitoring, Control and Surveillance Network, Global Fishing Watch and TMT, the Joint Analytical Cell, or JAC, will harness innovative technology and fisheries expertise to facilitate collaboration among State and non-State actors and transform ocean governance.

The announcement comes in advance of the International Day for the Fight Against Illegal, Unreported and Unregulated (IUU) Fishing on June 5 and the second United Nations Ocean Conference taking place in Lisbon, Portugal June 27-July 1at which the Joint Analytical Cell will be showcased by States that recognize the importance of novel collaboration and new technology to help sustainably manage the ocean.

“The establishment of the Joint Analytical Cell marks a sea change in fisheries intelligence and analysis. It will set a precedent for a global shift toward greater use of open data, data analytics, and integrated technology to provide greater transparency of activities occurring in the maritime domain and strengthen fisheries monitoring, control and surveillance efforts,” said Mark Young, Executive Director of the International Monitoring, Control and Surveillance Network. “Collaboration between States, nonprofits and technology providers can help tackle IUU fishing by providing actionable data, credible intelligence and capacity building to those that need it most, ultimately improving global fisheries management.”

IUU fishing causes significant harm to the health and resilience of the ocean, which is crucial in assuring global livelihoods and food security. Costing States millions of dollars in lost revenue and causing untold damage to marine ecosystems, it is also linked to increases in associated crimes, including labor and human rights abuses, as well as broader maritime security challenges.

Technology and transparency of information can drive change at scale in the fight against illegal fishing. But the global community lacks equitable access to the necessary data and tools, and the resources and training required to use them. Management authorities have traditionally relied on proprietary monitoring systems that have limited information sharing and are not available to all States.

In an effort to streamline the various technology and data offerings in the sphere of fisheries intelligence, the JAC seeks to facilitate a more open, collaborative model that will catalyze pooled data and technology, and conduct capacity-building efforts to improve upon current operating procedures. These insights can be shared across partners and deployed to support maritime enforcement authorities, enabling them to carry out targeted, risk-based and intelligence-led fisheries monitoring, control, surveillance and enforcement operations. These actions are also designed to act as a deterrent, since illicit activities will be harder to hide. The JAC will particularly focus on the strengthening of port controls, transshipment activity, and air and sea patrols. Insights from JAC analyses will also be made available to evidence-base international policy and legal processes that target the closure of loopholes that are exploited by illegal fishing operators.

“The IUU fishing challenge continues to evolve, and so must the responses,” said Duncan Copeland, Executive Director at TMT. “The opportunities that the appropriate data, the right tools and technologies, and targeted personnel training present to bolstering fisheries enforcement capacities are enormous, but only if they are accessible and adapted to a national or regional context. State and non-State actor cooperation and collaboration are essential, and the Joint Analytical Cell has been formed to enable this objective.”

“What we have established with the Joint Analytical Cell is a partnership mechanism that is designed to grow and bring in more complementary platforms and technology providers,” said Tony Long, Chief Executive Officer at Global Fishing Watch. “This initiative, when taken to scale, will mobilize the combined expertise of its partners and allow for more targeted analyses and actionable intelligence offerings.”

The Joint Analytical Cell will focus on four key areas: fisheries intelligence; monitoring, control and surveillance capacity building; access to data and technology, and partnership development. It will build on existing tools created by the founding members such as Global Fishing Watch’s vessel tracking map and related tools like its carrier vessel portal, as well as TMT’s Fisheries Analytical Capacity Tool, a fisheries intelligence management system built to capture and support analysis of identities and characteristics of the global fishing fleet and the companies that comprise it.

“Fish are a livelihood and source of nutrition for billions of people globally and it’s critical to prevent actions like illegal, unreported, and unregulated fishing that threaten this vital resource,” said Melissa Wright from Bloomberg Philanthropies. “The new Joint Analytical Cell is an unprecedented step to enhance global collaboration to end fishing piracy, and Bloomberg Philanthropies is excited to support this major effort to expand fishing data. We know that you can’t manage what you can’t measure and the data from this new fisheries intelligence force will ensure governments, civil society partners, and communities can hold bad actors accountable and fish continue to be an available resource for billions around the world.”

Attachment

Kimberly Vosburgh
Global Fishing Watch
kimberly@globalfishingwatch.org

Larissa Clark
TM-Tracking
larissa@tm-tracking.org

Damian Johnson
IMCS Network
djohnson@imcsnet.org
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Institutional Investor Publishes 2022 Asia Pacific (ex-Japan) Research Rankings, Including Local Regional Results

NEW YORK, May 30, 2022 (GLOBE NEWSWIRE) — Institutional Investor’s 2022 Asia Pacific (ex-Japan) Research results, published on 30th May (5pm NY), reflected the independent feedback of 4,813 portfolio managers and analysts at 1,406 institutions, an increase of over 27% in voter participation from 2021. Results were collated across 36 sectors, comprising 24 Industry/Macro and 12 Country/Region sectors within the Asia-Pacific region.

The Asia Pacific (ex-Japan) Research results were dominated by three companies – Morgan Stanley came top, with 35 published positions, closely followed by UBS and Citi in joint second place with 34 published positions, with Citi moving up the leader board from 2021. J.P. Morgan is in fourth place with 31 positions, BofA Securities in fifth place with 26 positions and Credit Suisse in sixth place to round off the high scorers.

Local Broker Results

For the second year, Institutional Investor also recognised the top ranked local firms and analysts within each of the 11 Asia-Pacific Countries/Regions (excluding Frontier Markets). The results reflected the independent feedback of 1,697 portfolio managers and analysts at 744 institutions, an increase of 28% voters from last year at 13% more companies.

Contact marketing@iiresearch.com for the individual regional breakdown of the best local research firms and analysts across the 11 Countries/Regions.

Five companies dominated these local broker results at a firm level, with Macquarie gaining five published positions from last year, achieving the highest number of positions with 11 winning positions (1st, 2nd or 3rd place), CLSA with seven winning positions, Jefferies with four, Nomura with three and Daiwa Securities Group with two.

Macquarie and Jefferies had the greatest number of ranked analysts across the 11 Countries/Regions with 37 and 25 respectively. CLSA, Daiwa Securities and Nomura followed closely and performed strongly with a high number of ranked analysts (22, 20 and 17).

The best overall broker includes the combination results of Sales, Corporate Access, Research & Trading.

Carvin Lee, Commercial Lead for Asia, says “2021 was a difficult year for brokers in Asia. Inflationary pressures fuelled by geopolitical events and the ongoing pandemic has added further challenges to the sell-side, as they continue to address changing investor behaviours and regulatory pressure. When times are tough, true quality becomes more important than ever. Thanks to the valuable participation of the global investment professionals, our 2022 result recognizes the best performing sell-side research providers that helped their clients through a difficult year.”

The results can be found here: https://www.institutionalinvestor.com/research

Investment professionals from the buy-side were invited to vote during a four-week period; increasingly votes are submitted centrally from investment management firms to reflect their formal internal research evaluation processes. This has reduced the disruption to the industry and increased the accuracy of the final results.

For more information, contact David Enticknap, Head of II Research on +44 7577 457088 david.enticknap@iiresearch.com.

To share your position on your website content, advertisements, communications and marketing collateral, please contact marketing@iiresearch.com.

Media contact

Sally Savery, Director of Marketing, Institutional Investor Research. Sally.savery@iiresearch.com

About Institutional Investor

For over 50 years Institutional Investor has consistently distinguished itself among the world’s foremost media companies with ground-breaking journalism and incisive writing that provides essential intelligence for a global audience. In addition, since 1972, Institutional Investor Research (II Research) has offered highly-respected proprietary benchmark research and rankings, providing independent feedback on the sell-side and corporate performance; II Research aims to be the first-choice as well as independent validation source of qualitative market intelligence for all three sides of the investment community and has a global presence spanning Europe, Asia Pacific, the US and Latin America.

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Dengue cases on the rise in Selangor – Health DG

PUTRAJAYA, May 31 (Bernama) — The number of dengue fever cases in Selangor has gone up by 270 cases bringing the total to 920 cases in the 20th Epidemiology Week (ME) from May 15 to 21.

At the 19th ME, from May 8 to 14, 650 dengue fever cases were recorded in the state.

Health director-general, Tan Sri Dr Noor Hisham Abdullah said this brought the cumulative dengue fever cases in the country, to date, to 16,145 cases, up by 52.4 per cent compared to the same period in 2021 at 10,597 cases.

“Nine deaths from dengue complications were also reported to date compared to five deaths in the same period last year,” he said in a statement, today.

Dr Noor Hisham said the Federal Territories of Kuala Lumpur and Putrajaya recorded 121 cases followed by Sabah (119), Johor (82) and Kedah (43), during the 20th ME.

He said 41 hotspots were also reported in the 20th ME with 36 in Selangor, three in Kuala Lumpur and Putrajaya and one each in Melaka and Sabah.

In the light of the high transmission of dengue fever currently, he said the people must be proactive in ensuring the surrounding of their homes and work premises are free of Aedes mosquito breeding grounds.

“The authorities will also conduct search and destroy activities against the breeding of Aedes mosquito other than using prevention methods such as repellents and aerosol spray in their premises to kill adult mosquitoes,” he added.

Source: BERNAMA News Agency

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Air Kelantan completes 87-km pipeline replacement project – MB

KOTA BHARU, May 31 (Bernama) — Air Kelantan Sdn Bhd (AKSB) has completed the 87-km pipe replacement project involving the districts of Kota Bharu, Tumpat and Gua Musang since its implementation in 2021.

Kelantan Menteri Besar Datuk Ahmad Yakob said all pipe replacement projects throughout the state are expected to be completed in stages based on the 2021-2030 AKSB Master Plan.

“For old and dilapidated pipes, it will be implemented this year involving 340 km in Kota Bharu, Tanah Merah, Kuala Krai and Machang.

“At the same time, Pengurusan Aset Air Berhad is in the process of appointing a consultant for a pipe replacement project covering 220km over the entire Bachok district which is expected to be implemented in 2023,” he said.

He said this after the opening ceremony of the Ketereh Water Treatment Plant (LRA) here today, which was also attended by AKSB general manager Datuk Ir Dr Azuhan Mohamed.

Commenting further, Ahmad said the areas that had the old pipelines replaced, such as in Dusun Muda, Tanjung Chat in Kota Bharu and Jalan Kelaboran to Chabang Neting in Tumpat, saw an increase in water pressure, thus resolving issues of pipe leaks and water supply disruption.

“I would like to thank the Federal government through the Ministry of Water and Environment for the allocations and support to the state of Kelantan to improve water supply,” he said.

Source: BERNAMA News Agency

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Pahang Digital 2021-2025 instils digital culture, attracts investors

KUANTAN, May 31 (Bernama) — Pahang Digital 2021-2025 is aimed at instilling digital culture among the people and ensuring Pahang is ready from the digital aspect in the eyes of investors, said state Science, Technology, Innovation, Communications and Multimedia Committee chairman Datuk Mohammad Fakhruddin Mohd Ariff.

He said planning for Pahang’s digital plan started in 2020 with the involvement of various agencies from the state and federal governments, and relevant industry representatives as well as taking into account the views of the people through a website created specifically for that.

He added that the plan covers four thrusts, namely digital infrastructure, digital government, digital inclusiveness and digital industry besides involving 10 digital strategies.

“The main focus of the digital strategy and initiatives is to provide the best service to the people and optimise state revenue apart from inculcating a digital culture among the people and ensuring Pahang is digital-ready for investors,” he said.

Mohammad Fakhruddin, who is also the chairman of the Pahang Digital Plan Steering Committee, said this while speaking at the Pahang Digital 2021-2025 launching ceremony here today.

The launch was officiated by the Regent of Pahang Tengku Hassanal Ibrahim Alam Shah Al-Sultan Abdullah Ri’ayatuddin Al- Mustafa Billah Shah.

Also present were Menteri Besar Datuk Seri Wan Rosdy Wan Ismail and the state administration.

Mohammad Fakhruddin said the implementation of Pahang Digital is very important because the changing world in the era of information technology and digital transformation makes adopting digital work and lifestyle an obligation, especially when the world is facing the COVID-19 pandemic.

The implementation of Pahang Digital involves three phases, with the first phase starting in 2021-2022 followed by the second phase in 2023-2024 before ending in 2025.

“Several digital initiatives planned in the first phase have been successfully implemented such as the implementation of digital parking, development of PahangGo mobile application and the digitisation of government-owned agencies and companies, especially those involving revenue collection,” he said.

At the ceremony, Tengku Hassanal also presented certificates to 12 leaders of Pahang Digital including the Malaysian Communications and Multimedia Commission (MCMC), Pahang Foundation, Pahang State Secretary Corporation, and Pahang Sports Council.

Source: BERNAMA News Agency

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NRD closing down Sungai Rambai RCC branch from July 1

MELAKA, May 31 (Bernama) — The National Registration Department (NRD) is closing its branch at the Rural Community Centre (RCC) in Sungai Rambai, Jasin, here, on July 1, said Melaka NRD director Norazle Sulaiman.

He said counter services would be available at the branch until June 30 and any related businesses could be done at the Jasin district NRD or any NRD offices nearby.

“This department also wishes to thank all parties including people in the surrounding areas who have given their co-operation and obtained services since this office was opened in 2016,” he said in a statement, here.

Members of the public can contact Melaka NRD Corporate Communication Unit at 06-2326600/06-2326881 or e-mail to pppmelaka@jpn.gov.my if they want further information.

Source: BERNAMA News Agency