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Hong Kong’s Leading Provider of IPO Share Registry Services Tricor Group Presents Curated Seminars to Help Mainland Chinese Companies Navigating Listing Overseas

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HONG KONG–(BUSINESS WIRE)–Tricor Group (Tricor), Asia’s leading business expansion specialist and provider of integrated business, corporate, investor, human resources and payroll, corporate trust and debt services, was pleased to offer two seminars aimed at advising Chinese companies on effectively navigating the opportunities and challenges of listing their firms overseas. The seminars were held on November 27 in Beijing and November 29 in Shanghai.


A team of Tricor executives led interactive sessions at the seminars including Managing Director of Commercial Services Pamela Chung, Group Director of Business Development, Trust & Corporate Services Karen Cheung, Managing Director of Trust Services Michael Shue, Executive Director of Trust Services Yie Ying Tan and Tricor Cayman Islands CEO Ian Comins.

The seminars provided the latest and up-to-date market knowledge specifically tailored to guide and assist Chinese companies in the mainland throughout their IPO journey – from strategy, planning, and implementation. Key topics covered included capital market updates, stock registry trends, IPO step-by-step planning, family trust structures, employee benefits trust, overview of Cayman Islands vehicles and economic substance rules.

Lennard Yong, Tricor Group CEO, said: “Our team of executives was pleased to meet with growth-minded and ambitious Chinese companies to thoughtfully discuss and strategize how Tricor’s sophisticated asset protection and integrated wealth management solutions can support their end-to-end needs as they prepare to embark on their overseas IPO journey. Listing overseas presents Chinese companies with unique opportunities and challenges. As Asia’s leading business expansion specialist and leading provider of IPO share registry services in Hong Kong with market leading capabilities in Singapore and Malaysia, Tricor is well-positioned to empower Chinese companies through every stage of the IPO process.”

About Tricor Group

Tricor Group (Tricor) is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, and corporate trust & debt services. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 50,000 clients globally, a staff strength of over 2,600 and a network of offices in 47 cities across 21 countries / territories. Our client portfolio includes over 1,500 companies listed in Hong Kong and China, ~500 companies listed in Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets. In March 2017, the Permira Funds became the controlling shareholder of the Tricor Group, alongside management.

Visit: www.tricorglobal.com

Contacts

For more information, please contact:

HONG KONG (GROUP OFFICE)
Sunshine Farzan

Tricor Services Limited

Group Head of Marketing & Communications

Tel: +852 2980 1261

Email: Sunshine.Farzan@hk.tricorglobal.com

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Business and Management

Hyosung Chairman Cho Hyun-joon Acquires High Voltage Transformer Plant in the US

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SEOUL, South Korea–(BUSINESS WIRE)–#ChairmanChoHyunJoon–“Now we are ready to provide products to customers in the United States in time through our local manufacturing facilities. And we will strengthen our position as a total energy solution provider by providing circuit breakers, ESSs and STATCOMs, in addition to high voltage transformers,” said Chairman Cho Hyun-joon of Hyosung Group.


Hyosung Heavy Industries (KRX:298040) has obtained the first production base in the United States to increase its presence in the world’s largest electric power market.

Hyosung Heavy Industries announced on December 16 that it has acquired Mitsubishi Electric Power Products, Inc. (MEPPI)’s high voltage transformer plant in the US state of Tennessee for 46.5 million dollars (approximately KRW 50 billion).

At the Memphis plant, MEPPI has been producing transformers, but since the first half of next year, Hyosung Heavy Industries will convert the facility to manufacture core-type high voltage transformers that can be widely used in a range of industries. Core-type transformers account for 95% of demands in the global transformer market, including North America.

The acquisition of the MEPPI Memphis plant will assist Hyosung in meeting the growing demand for core-type transformers, with continued increase in power consumption, expansion in renewable energy industry and growing demand for replacement of power devices due to deterioration of existing power infrastructure.

In addition, Hyosung Heavy Industries is acquiring the plant to establish a presence in the United States and to avoid high costs associated with tariffs.

The US high voltage transformer market is worth about KRW 2 trillion. Since entering the US market in 2001, Hyosung Heavy Industries has maintained long-term partnerships with leading US power companies.

When the plant in Tennessee operates in full scale, the company will reinforce the role of its plant in Changwon, the main manufacturing facility in Korea, as the global technology development center, while focusing on manufacturing products for premium markets including Europe and those for the Middle East and Asian markets.

Contacts

Hyosung Corporation

Minjung Cho, +82-2-707-7079

gnujnim@hyosung.com

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Business and Management

Pluxity Launches PLUG Kiosk for Comprehensive Spatial Information Service

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– It provides convenience service tailored for mobility handicapped people

SEOUL, South Korea–(BUSINESS WIRE)–#3DplatformPluxity, a plug-in solution provider based in Korea, announced on December 16, 2019 the launch of the PLUG Kiosk that provides 3D-based spatial information.

The PLUG Kiosk helps one easily find important facilities and stores by displaying spatial information in 3D maps. When a user chooses departing place, transit spots and destination, it intuitively shows the entire route.

It also offers various convenience services to customers who visit the site where the PLUG Kiosk is installed.

Equipped with a digital braille pad, it provides a system for mobility handicapped people including visually impaired persons as well as information on monitored quality of air, fine dusts and harmful gases using smart environmental sensor. And, the kiosk can be used by users with diverse statures as its height can be adjusted accordingly.

Featuring functions of guiding the way tailored for mobility handicapped people and visually impaired persons, it also can provide intuitive information based on easy-to-use interface and intuitive information based on 3D, identical services in diverse environments based on web standards, notices by surrounding facilities, and information on events depending on locations of users.

“PLUG Kiosks will initially be installed at areas congested with transient population, such as subway stations and airports, and we will expand available areas on phased basis for convenience of consumers,” said a manager at the company.

Earlier, Pluxity showcased the PLUG Kiosk at international trade events, including the Smart City Expo World Congress and IoT Tech Expo North America.

For further information on the PLUG Kiosk, please visit website of Pluxity (www.pluxity.com).

Contacts

Pluxity Co., Ltd.

Yoon Jae-min

+82-2-332-9002

biz@pluxity.com

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Business and Management

QInsure Goes Live with FINEOS Claims

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DUBLIN–(BUSINESS WIRE)–#AdminSuiteFINEOS Corporation (ASX:FCL), the market-leading provider of group and individual core systems for life, accident and health insurance, today announced that QInsure, the insurance arm of QSuper, one of Australia’s largest and most respected superannuation funds, has successfully gone live with FINEOS Claims.

The QInsure and FINEOS partnership will bring about changes focused on foundational operational uplift including improved, integrated and automated processes and workflow for claims covering life, TPD and income protection. Key highlights of the program included automatic payment calculations and FSC Code of Practice solutions that help case managers deliver on the insurance promise and meet regulatory obligations. The overarching philosophy focussed on member-centric claims outcomes including automated claims management with FINEOS embedded analytics and integrated generation of correspondence to members.

Speaking about the project, Chief of QInsure, Phil Fraser said, “We ran a comprehensive RFP and completed a lot of due diligence to choose FINEOS as our partner. The collaborative partnership has been extremely positive, and the project has delivered high quality results. We achieved this by both parties providing strong leadership and governance, working very closely across business and IT, and sticking assiduously to FINEOS’ comprehensive out of the box solutions. We are already seeing one of the key objectives of this program come to life in our streamlined claims processes, enabling our Claim Managers, to be freed up from routine administrative tasks to focus on providing even more excellent outcomes to QSuper members.”

Michael Kelly, CEO, FINEOS added, “This has been an exciting project for us in Australia and we have enjoyed working with QInsure to assist them improve their service even further. FINEOS has the market leading product and a very strong local team that has established trusted relationships with some of the largest and most respected insurers across the ANZ region – with well over 10,000 licensed users locally, our product helps process millions of claims each year. We pride ourselves on a laser-like focus on adding business value and are delighted to add Qinsure to the growing and thriving FINEOS community.”

About FINEOS Corporation Limited

FINEOS is a leading provider of core systems for life, accident and health insurers globally with 6 of the 10 largest group life and health carriers in the US as well as 6 of the largest life insurers in Australia. With employees and offices throughout the world, FINEOS continues to scale rapidly, working with innovative progressive insurers in North America, Europe, and Asia Pacific.

The FINEOS Platform provides clients full end to end core insurance administration and includes the FINEOS AdminSuite core product suite as well as add-on products, FINEOS Engage to support digital engagement and FINEOS Insight for analytics and reporting.

For more information, visit www.FINEOS.com

About QInsure

QInsure was established to exclusively provide Group Life Insurance policies for QSuper, so life insurance benefits can be provided to QSuper members as part of their superannuation membership.

QInsure, the first insurance company set up by a superannuation fund in Australia, was established on 29 July 2015 as a wholly owned subsidiary of QSuper Limited and commenced issuing life insurance policies from 1 July 2016. The company has ASFL and APRA licenses to operate as an insurance company, as well as an independent Board of Directors and Executive Leadership Team.

About QSuper

QSuper started with an Act of Parliament in 1912 creating the entity now known as the QSuper Group.

Over time, QSuper expanded to become the superannuation fund for all current and former Queensland public sector employees and their spouses and is now Queensland’s largest super fund and one of the largest in Australia. QSuper has grown its range of products and services, with its customer base is now numbering more than 585,000 with over $113 billion in funds under administration.

With the passing of legislation in 2016 that removed the restrictions on who is eligible to join the Fund, from 1 July 2017 QSuper was able to welcome more Australians to experience the QSuper feeling.

For more information, visit https://qsuper.qld.gov.au/

Contacts

Victoria Jamison

Marketing Manager

FINEOS Corporation

+ 353 1 639 9700

victoria.jamison@FINEOS.com

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