Category: Business

SINGAPORE - Media OutReach - 16 June 2020 - Global technology giant IBM, and Singapore's leading Continuing
Education and Training provider NTUC
LearningHub (NTUC LHUB), today announced a collaboration to close technology
skills gaps in Singapore amid the evolving Covid-19 situation. This will be done
through curating free courses in areas such as AI, Cloud and Data.

The tie-up came as a result of ongoing discussions about
the shared goals of both companies. These include making world-class technical
training in technology accessible to workers and helping them stay competitive
in the workforce as the coronavirus crisis accelerates the adoption of Industry
4.0 technologies. The initiative also supports the Government's ongoing
digitalisation push. 

A suite
of curated free IBM courses will be made available through NTUC LHUB for learners
to develop skills in key technologies such as Cybersecurity, AI (including IBM
Watson), Cloud and Quantum Computing. The courses have been developed in-house
by IBM, leveraging their world-leading expertise in each field.

"Singapore has
been at the forefront in using technology to improve the lives of its citizens
and the recent crisis has brought into sharp focus the need to accelerate the
adoption of cutting-edge technologies and skills. We are excited to partner
NTUC LHUB in the nation's skills building efforts to drive the country's
journey towards innovation.   Acquiring and developing these skills will
be critical for businesses to change and adapt quickly in a post-Covid era and
the timing of this collaboration is perfect," said Martin Chee, Managing
Director, IBM Singapore.

"Our dream is to
team up with great content providers and we will curate and democratise
knowledge to our workers in Singapore. IBM has world-class expertise and steep
vertical knowledge in areas such as Artificial Intelligence and Cloud
Computing, and we are very excited to partner with them to build up Singapore's
digital capabilities. This continues our online learning journey. In April, we
teamed up with GO1 to provide online courses in Adaptive and Technology skills,
and more content providers are now working with us to provide steep vertical
knowledge, for example Dupont Sustainable Solutions with online courses in
Safety, Maintenance and Reliability. IBM's cutting-edge courses will be
invaluable in providing future-ready skills to pivot our workforce into Worker
4.0 as Singapore embarks on our Industry 4.0 transformation. We welcome more
like-minded organisations to join us in this journey, so that we can emerge
stronger together," says NTUC LHUB CEO Kwek Kok Kwong.

To access the list of courses provided,
please visit www.ntuclearninghub.com/ibm-courses.

About NTUC LearningHub

NTUC
LearningHub was corporatised in 2004 with the vision of transforming the
lifelong employability of working people. We work with both corporate and
individual clients to provide learning solutions in areas such as Infocomm
Technology, Healthcare, Employability & Literacy, Business Excellence,
Workplace Safety & Health, Security, Human Resources and Foreign Worker
Training.

To
date, NTUC LearningHub has helped over 21,000 organisations and achieved over
2.5 million training places across more than 500 courses with a pool of over
400 certified trainers. As a Total Learning Solutions provider to
organisations, we also forge partnerships and provide a wide range of relevant
end-to-end training solutions and work constantly to improve our training
quality and delivery.

For
more information, visit www.ntuclearninghub.com.

About
IBM

Visit: https://www.ibm.com/sg-en

Converging the power of mobile credit risk scoring and digital fraud management technology to access Southeast Asia's 400 million unbanked and new-to-credit population

SINGAPORE - Media
OutReach - 16 June 2020 - GBG (AIM:GBG), the global technology
specialist in fraud and compliance management, identity verification and
location data intelligence today announced a technology partnership with CredoLab, the leading developer of bank-grade
digital scorecards based on privacy-consented and permissioned smartphone metadata,
to easily and confidently assess the creditworthiness of any applicant, including
the unbanked and underbanked. While banks in Indonesia have tapped on local bureaus,
telcos, and e-commerce providers for data to perform credit and fraud checks,
data continues to be fragmented and unreliable, contributing to high
non-performing loans, low approval rates and a high level of fraud. This
technology partnership will help brick-and-mortar and digital banks deterred by
a lack of data to leverage on mobile phone digital footprints to process
banking and credit applications and provide financial empowerment to all new-to-credit,
new-to-bank, and gig economy workers of the region.

Of the nearly 400 million adults in
Southeast Asia^[1],
only 104 million are fully "Banked" and enjoy full access to Financial Services. Another 98 million
are "Underbanked", with a bank account but insufficient access to credit, investment and insurance, while
198 million remain "Unbanked" and do not own a bank account. Millions of small
and medium enterprises also face large funding gaps. However, the booming
internet economy, which is predicted to reach US$300 billion in 2025, sets the
stage for the lending industry to grow by more than 2 folds by using digital
technology to their advantage.

"We are very excited with this
partnership between GBG and CredoLab. By assimilating metadata on consumers'
digital footprint and behavioural intelligence into GBG Instinct digital fraud
management platform, we are seeing an uplift in credit and fraud risk
protection by up to 40%. This convergence between mobile credit scoring and
digital fraud technology helps established and digital banks and lenders
onboard quality customers within the financially excluded population," said
June Lee, Managing Director of APAC.

GBG offers an end-to-end digital fraud and
compliance solution for banking and non-banking financial institutions looking
to onboard and transact with their customers quickly, safely, and securely. With
GBG Instinct, banks, lenders, and mobile wallets can leverage an orchestration
layer to perform multiple data callouts to CredoLab's cloud service. It only
takes seconds, as opposed to days, to analyse mobile behavioural data and
calculate the risk score for any individual to be onboarded.

The result is of the partnership sees an
uplift in scorecard predictiveness by up to 39.9%, drop in cost of risk by up
to 21.9%, and increase in approval rates of up to 32%.

"Banks and lenders always grapple with the
question of "can a customer pay back" and "will a customer pay back" during the
onboarding journey. While GBG's fraud solution flags out suspicious behaviours
of customers who "cannot pay", CredoLab's behaviour risk score, lowers false
positives and false negatives on delinquent behaviours to discern if a customer
"will not pay" explained Peter Barcak, CEO and Co-Founder, CredoLab.

In Southeast Asia, which has 360 million
internet users, this partnership provides a gateway into accessing the largely
untapped unbanked and new-to-credit populations, and the thriving gig economy workers
of the country.

Today GBG works with more than 100
financial institutions across the region with active implementations in more
than 30 countries; CredoLab has delivered alternative credit risk scores to 7 Indonesian
lending businesses amongst over 70 others across 21 countries. The partnership will
enable all Indonesian banks, neo banks, and digital lenders to access and
approve quality customers with the intelligence required to accelerate
onboarding, detect fraud, and reduce operational costs.

About GBG

GBG offers a range of solutions that help
organisations quickly validate and verify the identity and location of their
customers. Our market-leading technology, data and expertise help our customers
improve digital access, deliver a seamless experience and establish trust so
that they can transact quickly, safely and securely with their customers
online.

Headquartered in the UK and with over
1,000 team members across 16 markets, we work with 19,000 customers in over 70
countries. Some of the world's best-known businesses rely on GBG to provide
digital services and keep the economy moving, from US e-commerce giants to
Asia's biggest banks and European household brands. 

To find out more about how we help our
customers establish trust with their customers, visit www.gbgplc.com/apac and follow us on LinkedIn and Twitter @gbgplc.

About CredoLab

CredoLab develops bank-grade digital
scorecards for banks, consumer finance companies, auto lenders, online and
mobile lenders, insurance companies, and retailers from the best alternative
data source - smartphone device metadata. Built on over 21 million loan
applicants across 70+ lending partners, our AI-based algorithm crunches millions
of datasets from opt-in smartphone metadata to find the most predictive behavioural
patterns before converting them into alternative credit scores. These enable
any lender to make the most granular assessments possible of their applicants.

Established in Singapore in 2016, CredoLab
has powered well over USD 1 Billion in loans issued after analysing about 1
trillion data points across 21 countries. We are backed by Fintonia Group,
FORUM, and Walden International.

To find out more about CredoLab, visit https://www.credolab.com/about and follow us on LinkedIn and Twitter @CredoLab.

• For two years, the agency has worked to pivot from traditional branding and design agency to creative consultancy and venture studio to make the push for Asian companies.
• Team believes that coronavirus levelled the global playing field and the opportunity is now for Asian lifestyle brands to take the global spotlight.
• Since 2012, Constant has helped modernise and launch over 40 brands in the region including New Balance, SOGO, Eu Yan Sang, Nikon, Sino Group, Swire Properties, Raze, Bird, Steelcase and Calvin Klein.

HONG KONG, CHINA - Media OutReach - 16 June 2020 - Against some of the biggest changes in history, independent creative agency Constant, with offices in Hong Kong and Copenhagen, is making the transition from branding and design agency to creative consultancy and venture studio.

Since 2012, Constant has helped create and modernise more than 40 brands across the region. In those eight years, founders Tim Ho and Tem Hansen have seen a major shift in how CEOs and CMOs work with creative agencies in the region.

"When we started Constant, a lot of our work was repurposing global assets or stories to make them relevant for audiences in the region," said Co-Founder and Strategy Director Tem Hansen.

"As the spending power in Asia becomes stronger and the market more diverse, this is no longer enough, and why as a company we decided to change our offering back in 2018. Now, with a global reset, the timing is ripe for Asian brands and businesses to be pushed to the forefront."

The new agency direction has been in the works for two years, with the senior team honing their skills and offering for clients including SOGO, Swire Properties, Steelcase and New Balance. While the past year has been a trying period for business in Hong Kong, the agency believes that now is the time for the axis to tilt in the region's favour. Headquartered from Hong Kong, but with an office in the design capital Copenhagen, the team has ambitions for Chinese owned brands and businesses to compete on the world stage.

"New wave lifestyle brands from the US have disrupted and dominated in recent years," said Tim Ho, Co-Founder and Chief Creative Officer.

"As a region, we have the production, resources and innovation to put the spotlight back on Asia. Now our agency has the know-how and network to build global brands and businesses to see this vision come to life. Now is the time for Asian-owned brands to be consumer facing and go global. We don't need to operate behind the scenes anymore."

With experience working in Copenhagen, London, Singapore, Ho Chi Minh, Tokyo, Los Angeles, Shanghai and Hong Kong, the multinational team hopes to see a new wave of China and Asia-owned businesses target global audiences. Recent work for meditation studio Bird demonstrates this approach to their design thinking. "Our ambition is to design with purpose and beyond just the cosmetic process. We aim to help businesses create brands that can be grown globally through establishing unique brand propositions. Bird could just as much sit in Tai Koo as it could in Austin Texas," said Tim Ho.  

About Constant

Founded by Tim Ho and Tem Hansen in 2012, Constant is a multidisciplinary creative consultancy and venture studio based in Hong Kong and Copenhagen. We build brands, products and campaigns rooted in user-centric design and storytelling.

www.weareconstant.com

Accelerates efficiency while enhancing security, document management and remote working capabilities

SINGAPORE - Media OutReach - 16 June 2020 - Fuji Xerox
Asia Pacific today announced the launch of 19 new models from its digital multifunction/printer
ApeosPort and DocuPrint series (Refer to Table A). The latest products, together
with Fuji Xerox's solutions, will allow businesses to overcome new challenges on
intensifying security risk, demand for greater efficiency, burgeoning
operational complexities as well as changes in workstyle and space.

Fuji Xerox has further emphasized
how these new devices can enhance protection, promote freedom to businesses and
add value to users alike through the four-pillared benefits below:  

• 360° Data Security

The new products encompass robust measures to ensure
protection which ranges from secure scanning to ceasing unauthorized access as
well as audit trails to monitor devices in real-time.  

• Carefree Management

In addition to Fuji Xerox's service teams and remote support, the new ApeosPort series offer Remote Device Health Check
providing predictive device management using data obtained from devices to anticipate
and mitigate probable faults, to improve overall device effectiveness and lower
unplanned downtime.

• End to End Automated Workflow

By seamlessly connecting with a host of solutions, the
new Fuji Xerox ApeosPort series support business process automation from
archiving digitalized documents to simple distribution.

• Borderless Workspace

Fuji Xerox's mobile solutions and cloud connectivity to be used with the new ApeosPort and DocuPrint series support workstyle changes, providing prints on-the-go while promoting
remote working and collaboration.

As a catalyst that enables
businesses to improve performance, reduce errors, improve quality and speed, automation
is estimated to raise productivity growth by 0.8 to 1.4 percent annually.[1] The new models from Fuji
Xerox allow businesses to enjoy freedom from security threats, interruptions,
complexity and limitations.

The new models cater to the
burgeoning number of companies embracing borderless workspaces, allowing users
to connect anytime, anywhere, with a seamless, secure range of cloud enabled
printing services. With 78 percent of cloud-based workers stating that the most
important capability in devices used for work is the ability to fix issues
without losing productivity [2], the new models will
include digital conversion for document automation of business process and
advancements in user-friendly interface.

 "For businesses to thrive, workflow efficiency
is key," said Mutsuki Tomono, President & CEO, Fuji Xerox Asia Pacific Pte
Ltd. "At Fuji Xerox, we are constantly in the customers' headspace to add value
to their daily processes and unlock their success to move forward quickly. The
launch of the 19 new models highlights Fuji Xerox's commitment to constantly challenge
ourselves to innovate and address
the evolving needs of businesses, especially during the unprecedented
pandemic, to support them for the new norm of working."

Fuji Xerox's latest product
offerings will boost businesses through its professional service teams, remote support, and Remote
Device Health Check offering predictive device management to ensure printer
malfunctions are reduced & business momentum is maintained. These new digital
devices can be utilised to reinforce businesses for the future model of remote
working and address collaborative team needs, without taking a compromise on
security.

Table A: List of newly
available ApeosPort / DocuPrint series

Xerox, Xerox and Design, as well as Fuji Xerox and Design are registered
trademarks or trademarks of Xerox Corporation in Japan and/or other countries.

About Fuji Xerox

Founded in 1962, Fuji Xerox Co., Ltd. is a leading
company in offering smarter ways to work with its document-related solutions
and services, as well as with the world-class office multifunction devices,
printers and production printers that we develop and manufacture for worldwide
distribution. 

Fuji Xerox is a wholly
owned subsidiary of FUJIFILM Holdings Corporation with direct sales force
covering Japan and the Asia-Pacific region including China. As a U.S. 10
billion dollar enterprise, we employ approximately 40,000 people globally, with
more than 80 domestic and overseas affiliates / sales subsidiaries. On April 1,
2021, Fuji Xerox will change its corporate name to FUJIFILM Business Innovation
Corp.

Fuji Xerox Asia Pacific is
the subsidiary of Fuji Xerox overseeing sales operations in the Asia-Pacific
region. 

http://www.fujixerox.com

• Malware
  and ransomware attack rates in developing markets were 1.6 times higher than
  the regional average
• Key
  financial hubs, Singapore and Hong Kong, struggled with drive-by download attack
  volumes that were three times higher than the regional and global average

SINGAPORE
- Media OutReach -
16 June 2020 - Microsoft
today unveiled Asia Pacific findings from the latest edition of its Security Endpoint
Threat Report 2019,
an annual research aimed at identifying cyber threats and building cyber resilience
across the region.

Findings were derived from an analysis of
diverse Microsoft data sources, including 8 trillion threat signals received
and analyzed by Microsoft every day, covering a 12-month period, from January
to December 2019.

The
research revealed significant differences in the exposure to cyberthreats
between developed and developing countries^[1], with developing countries continuing to remain vulnerable to
threats despite the overall decrease in encounter rates across the region.

"As
security defenses evolve and attackers rely on new techniques, Microsoft's
unique access to billions of threat signals every day enables us to gather data
and insights to inform our response to cyberattacks," said Mary Jo Schrade,
Assistant General Counsel, Microsoft Digital Crimes Unit, Microsoft Asia.

"The
Microsoft Security Endpoint Threat report aims to create a better understanding
of the evolving threat landscape and help organizations improve their
cybersecurity posture by mitigating the effects of increasingly sophisticated
attacks."

Malware
and ransomware remain key cybersecurity challenges in developing markets

Asia
Pacific continued to experience a higher-than-average encounter rate for
malware and ransomware attacks - 1.6 and 1.7 times higher respectively than the
rest of the world. This is despite a 23 and 29 percent overall decline across
these two threat vectors when compared to the 2018 findings.

The
research revealed that developing countries, including Indonesia, Sri Lanka, India,
and Vietnam, were most vulnerable to malware and ransomware threats in 2019.

"Often,
high malware encounters correlate with both piracy rates and overall cyber
hygiene, that includes regular patching and updating of software.  Countries that have higher piracy rates and
lower cyber hygiene tend to be more severely impacted by cyberthreats. Patching,
using legitimate software, and keeping it updated can decrease the likelihood
of malware and ransomware infections," explained Schrade.

The
research identified that countries with lower piracy rates and stronger cyber
hygiene practices have witnessed a significant decline in attacks. Specifically, malware
and ransomware threat encounter rates in Japan, New Zealand, and Australia, were
three to six times lower than the regional average.

Despite
the low threat encounters observed in developed countries, Schrade encouraged all
businesses to remain vigilant. "Cybercriminals do not stand still. We are witnessing
attackers pivoting away from conventional methods, and shifting towards customized
campaigns, targeted at specific geographies, industries, and businesses. By
relying on cloud technology and developing a comprehensive cyber resilience
strategy, organizations can effectively bolster their cybersecurity strategies."

Cryptocurrency
mining on the rise in developing markets

India,
Indonesia, and Sri Lanka recorded the highest cryptocurrency mining encounters in
Asia last year.  During such attacks,
victims' computers are infected with cryptocurrency mining malware, allowing
criminals to leverage the computing power of their computers without their
knowledge.

On
the declining encounter rate recorded in countries such as Hong Kong, Japan and
Singapore, Schrade elaborated, "Cybercriminals are usually incentivized by
quick financial gains. We believe that the recent fluctuations in the value of
cryptocurrency and the increased time required to generate it, has perhaps led
to them focusing on other forms of cybercrime."

Drive-by
download attack volume reaches parity with global average but continue to
challenge regional business and financial hubs

The Drive-by
download attack volume^[2] in Asia Pacific has
converged with the rest of the world at 0.08, following a 27 percent decline
from 2018.

These
attacks involve downloading malicious code onto an unsuspecting user's computer
when they visit a website or fill up a form. The malicious code that is
downloaded is then used by an attacker to steal passwords or financial
information.

Despite
the general decline in drive-by download attacks across the region, the study
found that regional business hubs, Singapore and Hong Kong, recorded the
highest attack volume in 2019, over 3 times the regional and global average.

"We
usually see cybercriminals launch such attacks to steal financial information or
intellectual property. This is a likely reason why regional financial hubs
recorded the highest volume of such threats. The high attack volume in these
markets may not necessarily translate into a high infection rate, perhaps due
to their good cyber hygiene practices and use of genuine software," explained
Schrade.

Cybersecurity
in the age of COVID-19

With
the turn of the new year, COVID-19 has changed the landscape and remains the
top-of-mind concern for individuals, organizations, and governments around the
world.

Since
the outbreak, Microsoft Intelligence Protection team's data has shown that every
country in the world has seen at least one COVID-19 themed attack, and the
volume of successful attacks in outbreak-hit countries seems to be increasing,
as fear and the desire for information grows.

Of
the millions of targeted phishing messages seen globally each day, roughly
60,000 include COVID-19 related malicious attachments or malicious URLs. Attackers
are impersonating established entities like the World Health Organization
(WHO), Centers for Disease Control and Prevention (CDC), and the Department of
Health to get into inboxes.

Schrade
further explained, "According to our data, we found that COVID-19 themed threats are mostly rethreads of existing
attacks that have been slightly altered to tie to the pandemic. This
means that attackers have been pivoting their existing infrastructure, like
ransomware, phishing, and other malware delivery tools, to include COVID-19
keywords, to capitalize on people's fear. Once users click on these malicious
links, attackers can infiltrate networks, steal information and monetize their
attacks."

Businesses
and individuals have a crucial role to play in navigating cyberspace securely and
are encouraged to take the following steps:

Guidance for businesses:

• Have strong tools to
  safeguard employees and infrastructure. This means looking into multi-layered defense
  systems and turning on multi-factor authentication (MFA) as employees work from
  home. Additionally, enable endpoint protection and protect against shadow IT
  and unsanctioned app usage with solutions like Microsoft Cloud App Security
• Ensure employee
  guidelines are communicated clearly to employees. This includes information on how
  to identify phishing attempts, distinguishing between official communications
  and suspicious messages that violate company policy, and where these can be
  reported internally
• Choose a trusted
  application for audio/video calling and file sharing that ensures end-to-end
  encryption

Guidance for individuals:

• Update
  all devices with the latest security updates and use an antivirus or
  anti-malware service. For Windows 10 devices, Microsoft Defender Antivirus is a
  free built-in service enabled through settings
• Be
  alert to links and attachments, especially from unknown senders
• Use
  multi-factor authentication (MFA) on all accounts. Now, most online services
  provide a way to use your mobile device or other methods to protect your
  accounts in this way
• Get
  educated on how to recognize phishing attempts and report suspected encounters,
  including watching out for spelling and bad grammar, and suspicious links and
  attachments from people you do not know

For more information on the findings
published on the Microsoft Security Intelligence website, please visit: https://www.microsoft.com/securityinsights

About Microsoft

Microsoft (Nasdaq "MSFT"
@microsoft) enables digital transformation for the era of an intelligent cloud
and an intelligent edge. Its mission is to empower every person and every
organization on the planet to achieve more.

JAKARTA,
INDONESIA - Media OutReach - 16 June
2020 - Leading global
logistics provider, GEODIS has announced the appointment of Tomy Sofhian as the
Managing Director of Indonesia from May 2020.

Tomy reports to Rene Bach-Larsen, Sub-Regional
Managing Director ASEAN, who commented: "Tomy Sofhian joins GEODIS with a
wealth of experience in the supply chain industry and at a key time during our
expansion of operations in Indonesia.  We
continue to support Healthcare and Pharma Industries with our bonded warehouse
equipped with cold chain facilities in Soewarna business Park. Crucially, this
facility enables us to manage and control pharmaceutical products from China
and rest of Asia, which are being delivered to key facilities locally.  Tomy's expert regional knowledge and
commitment will help the further development of our team in Indonesia to meet
in reaching our growth targets."

GEODIS professionals in Indonesia are also
extensively involved in supporting customers in the oil and gas industry,
providing specialized logistics services in the remote region in the vicinity
of Balikpapan, a seaport city in East Kalimantan.  GEODIS has a regular air cargo service to Balikpapan
with connections from Singapore four times a week.

Holding a Master's Degree
in Economics & Business (majoring in Strategic Management) from Diponegoro
University, Indonesia, Tomy Sofhian, 48, joins GEODIS with a career long in
both local and regional experiences, having spent nearly 20 years in the
freight delivery sector.

GEODIS

GEODIS is a
top-rated, global supply chain operator recognized for its passion and
commitment to helping clients overcome their logistical constraints. GEODIS'
growth-focused offerings (Supply Chain Optimization, Freight Forwarding,
Contract Logistics, Distribution & Express, and Road Transport) coupled
with the company's truly global reach thanks to a direct presence in 67
countries, and a global network spanning 120 countries, translates in top
business rankings, #1 in France, #4 in Europe and #7 worldwide. In 2018, GEODIS
accounted for over 41,000 employees globally and generated €8.2 billion in sales.

Website: www.geodis.com

• Committed and planned energy investments in APICORP's 2020-24 investment outlook amount to USD792bn, a USD173mn drop compared to USD965bn in 2019-2023
• The decline in investments is largely attributed to the 2020 triple crisis: the COVID-19 health crisis, the oil crisis, and a looming financial crisis
• Investments are driven primarily by investments in Saudi Arabia, the UAE, Iraq and Egypt
• The private sector's share in energy investments falls to 19% in 2020 as compared to 22% in 2019
• Brent prices could average USD30-40 in 2020 and 2021 before reflecting a more balanced market
• Energy sector's capital costs were cut by at least 20%, particularly in oil and gas, leading to a possible wave of mergers and acquisitions

DAMMAM, SAUDI ARABIA - EQS Newswire - 15 June 2020 - The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, estimates that planned and committed investments in the MENA region will exceed USD792bn over the next five years (2020--2024). As per APICORP's MENA Energy Investment Outlook 2020-2024, which it launched today, the amount marks a USD173mn decline from the USD965bn in last year's five-year outlook.

The overall decline in the investment outlook - mostly in planned investments - is largely attributed to the 2020 triple crisis: the COVID-19-related health crisis, oil crisis and a looming financial crisis.

Despite these difficult circumstances however, the GCC region's committed investments increased by 2.3% compared to a 6% overall decrease in the MENA region as a whole, indicating a higher project execution rate in the GCC.

The fallout from the 2020 triple crisis

At the end of the first quarter of 2020, most countries around the world were facing the same dilemma in how to deal with the COVID-19 health crisis: choosing between maintaining business as usual and thus risking a massive loss of lives, or imposing lockdowns and restrictions to contain the virus. This dilemma called for uncoordinated trade-offs among countries. The resumption of travel and trade however will require international coordination.

With regards to the decline in oil prices, which was driven by the supply surplus and exacerbated by a historic demand contraction due to the COVID-19 pandemic, APICORP expects that it will lead to a restructuring of the oil and associated gas industry, as well as an accelerated closure of the lowest efficiency parts of the capital stock, and mergers and acquisitions (M&A). Considering the various market forces such as crude price differentials and discrepancies between actual markets versus futures markets, APICORP projects average Brent oil prices to stay in the USD30-40 range in 2020 and 2021 before reflecting a more balanced market.

The third episode of the triple crisis is a potential financial crisis, manifested by a global liquidity crunch that is taking hold as more financial assets shed their value. Although central banks and multilateral financial institutions are stepping up, concerns linger that such massive stimulus plans might create enormous unproductive debt overhangs that will slow economic growth.

Dr. Ahmed Ali Attiga, Chief Executive Officer of APICORP, said: "The impact of COVID-19 is already deeper and longer lasting than past downturns. Indeed, the nature of this triple crisis and the profound restructuring in oil and gas will hit energy investments for a potentially long period of time, sowing the seeds of supply crunches and price volatility. Therefore, we expect a W-shaped recovery for the MENA region. Furthermore, despite the positive effects of digitization and automation on efficiencies across the value chains, many fundamental questions remain that will negatively affect investments. International collaboration between the private and public sector will therefore be critical to counter the expected shortfalls in investment, and APICORP will continue to play a lead support role in this regard as a trusted financial partner to the region's energy sector."

Dr. Leila R Benali, Chief Economist, Head of Strategy, Energy Economics and Sustainability of APICORP, said: "The impact of the triple crisis has led to sharp cuts in capital expenditures and restrictions to projects and supply chains. It has also brought to the forefront a possible restructuring of the oil and gas industry, accelerated the closure of the lowest efficiency parts of the capital stock, and energized mergers and acquisition activity. As we mention in the outlook, we expect a restructuring of the value chain, thus putting the strongest countries and companies from a total cost and leverage standpoint in the best position to preserve their long-term value proposition and return to their respective shareholders."

What is driving energy investments in the MENA region?

The MENA Energy Investments Outlook 2020 indicates that energy investments are primarily driven by several countries, namely investments by Saudi Arabia in the gas and power sectors (USD39bn and USD41bn, respectively); Iraq's reconstruction efforts and gas-to-power (USD33bn); the UAE's oil capacity maximization (USD45bn); and Egypt's new petrochemicals drive (USD38bn). Notably, APICORP puts private sector's share in energy project investments at 19% after climbing to 22% in last year's outlook.

Key developments in the gas, petrochemicals and power sectors

In terms of planned investments, the biggest gain was in the gas value chain, which jumped by USD28 billion, a 13% increase compared to last year's outlook. The increase signals the developing of unconventional gas in the GCC, namely in Jafura and Hail gas fields in Saudi Arabia and Ghasha in the UAE, as well as the increasing production capacity in Qatar, Egypt and Oman.

In the petrochemicals sector, APICORP expects countries to consolidate their respective strategy in order to increase monetization and maximize value from the hydrocarbons they produce. Key investments in this sector include Duqm (USD8.67bn) and Sur (USD6.73bn) in Oman; Al-Zor (USD6.5bn) in Kuwait; SATORP Amiral ((USD6.34bn) in Saudi Arabia; and the QCHEM Complex (USD4.5bn) in Ras Laffan in Qatar.

The power sector meanwhile registered a USD114bn decline in investments due to the commissioning of several projects during 2019 in Egypt, UAE and Saudi Arabia. Globally and in the region however, utilities' share prices did not fall as much as their counterparts in the oil and gas sector. This was due to a relatively milder decrease in demand for electricity and government utilities subsidies in select countries.

Although the power sector has not witnessed major credit issues so far, the impact on investments has been more acute in 2020. Spending on renewable projects and transmission and distribution (T&D) networks were cut due to delays in project development, the various restrictions imposed and expectations of lower demand. As per the outlook however, the MENA region does not seem to have been affected so far as renewables auctions remained unchanged, namely Saudi Arabia's Renewable Energy Development Office (REPDO) program.

Compared to 2020's initial figures, planned upstream spending has been cut by 20-30% across the board by oil majors, National Oil Companies and large Independents as a result of the decline in oil and gas prices and unprecedented drop in demand. However, unconventional gas and non-associated gas developments aimed at domestic consumption and strategic market share positioning for exports are expected to offset the impact on the upstream sector in the MENA relative to the rest of the world. 

For more insights please refer to the full report at: bit.ly/2MT3eEx

Download Images:

1.     Dr. Ahmed Ali Attiga, CEO, APICORP - https://bit.ly/37vSuoR

2.     Dr. Leila R Benali, Chief Economist, Head of Strategy, Energy Economics & Sustainability, APICORP - https://bit.ly/30HSh0D

3.     MENA Committed Energy Investments - https://bit.ly/3hvE9gM

4.     MENA Energy Investments Pre and Post COVID19 - https://bit.ly/3hvO6uT

5.     MENA Planned Energy Investments - https://bit.ly/37w6Llu

About APICORP:

The Arab Petroleum Investments Corporation (APICORP) is a multilateral development financial institution established in 1975 by an international treaty between the ten Arab oil exporting countries. It aims to support and foster the development of the Arab world's energy sector and petroleum industries. APICORP makes equity investments and provides project finance, trade finance, advisory and research. APICORP is rated  "Aa2" with stable outlook by Moody's and its headquarters is in Dammam, Kingdom of Saudi Arabia.

More information can be found at: www.apicorp.org

SINGAPORE - Media OutReach - 15 June 2020 - With more than 20 years' media intelligence leadership and expertise, Australian businessman John Croll has launched his latest project, Truescope, set to challenge the media intelligence industry.

Truescope is the innovation of John and business partner and product visionary, Michael Bade. The entrepreneurs have designed and built a media intelligence platform to help inform communicators about breaking news across all media types and identify issues and trends in real-time.

The platform which launched in Singapore and Australia today, harnesses the duo's expertise delivering real insights for clients across many markets. The cloud-based technology and machine learning capabilities work at speed to analyse millions of social and mainstream media stories in real-time to deliver world-class insights.

"We think our approach to people, product and scalability is revolutionary in this space, and we all have the unequivocal mindset that the client experience (CX) is central to everything we do. We're ready to build bridges between new technologies and the communications industry so our clients can immediately understand the value Truescope brings and see how different we are to what has come before us" said John.

As part of its strategic expansion across Asia-Pacific (APAC), Truescope has partnered with Dataxet Pte Ltd, a data intelligence company led by industry leaders David Liu and Jason Lee. Both played critical roles in establishing, growing and driving media intelligence solutions in the region for numerous global brands and organisations.

David Liu, Founder of Dataxet said, "Truescope will be a great opportunity for us to champion smarter media intelligence for brands, using Singapore as a strategic launch pad."

Jason Lee, Managing Partner of Dataxet and CEO of Truescope Singapore shared, "The future of media intelligence goes beyond traditional clippings or collation of brand mentions. Smart media intelligence provides critical objective insights about a brand or organisation in the media that can be accurately and rapidly delivered to C-suites and management in order to be fed back into brand strategy, positioning and product development. Combine media intelligence with internal brand data such as sales, revenue and CRM data, and you start closing the ROI loop in your marketing and communications efforts."

Truescope's capabilities combine and transform big data across media types and languages, into a single, coherent, and easily searchable database. With each media item, machine learning and natural language processing are used to distil sentiment, potential effects on brand reputation and assist brands in measuring brand awareness and communications effectiveness.

Beyond its access to numerous social channels for comprehensive coverage, the platform has also secured official partnerships such as Twitter, Singapore Press Holdings and Mediacorp. This will help other businesses determine the content most relevant to them across the platform by providing insights to consumer sentiment, brand awareness, campaign performance, customer experience and much more.

About Truescope:

Truescope was founded in Australia to better inform communications. Our people and technology deliver real-time, actionable media intelligence and information to clients across Australia, New Zealand and South East Asia. Visit www.truescope.com for more.    

About Dataxet:

Dataxet Pte Ltd is a leading integrated data intelligence holding company operating in Asia. Its branded networks provide best in class media monitoring services along with localised research and data analytics expertise to deliver accurate, applicable and actionable data insights. https://www.dataxet.com/

HO CHI MINH CITY, VIETNAM - Media OutReach - June 12, 2020 - On May 18th, the European Commission ratified
Belgium's proposal to reduce the ASF-infected zone in the province of
Luxemburg. This zone, in which African Swine Fever was detected only in wild
boar, was successfully installed by Belgian authorities to prevent the
contamination of domestic pigs. "The reduction of the zone is a positive signal
towards countries that have suspended the import of Belgian pork," says Denis
Ducarme, Belgian Minister of Agriculture.

Immediately after the detection of African Swine
Fever in two wild boards, on 13 September 2018, the FASFC (Belgium's Federal Agency for the Safety of the Food
Chain), demarcated an "infected
zone" and a "buffer zone", in consultation with the European Commission and
ministers. The few domestic pigs in the initial infection zone were
preventively eradicated between 27 September and 3 October 2018. The products
of these pigs did not enter the food chain and were not used in the feed
industry.

RECOGNITION OF PROVEN
EFFECTIVENESS

Within the infected zone, a series of control
measures were quickly put in place:

• zoning,
• carcass removal,
• a complete feeding ban,
• specific hunting regulations and depopulation actions depending on
  the zone, leading to almost no wild boar left within zone II,
• a partial ban of people and logging, and
• more than 300 km of concentric placed fences.

Outside the zones and in the domestic herd, an
active surveillance has been maintained. The measures have proven effective to
keep ASF inside the affected zone. The last ASF-positive test on a fresh
carcass of a dead boar, found within the zone, goes back to 11 August 2019. On
6 occasions after that date, ASF was found on the remains (bones) of wild boar
that died several months before their discovery.

So, one year after ASF was first detected in
Belgium, the measures have stopped the spread of the disease. This observation
is backed by the ongoing, intensive search.

REDUCTION OF THE INFECTED ZONE

The reduction (shaded) concerns a part of the
"infected zone" (zone II) within the "buffer zone" (zone I), a zone in which no
infected animals have been detected since 17 February 2019.

ONGOING SEARCH INSIDE AND OUTSIDE THE ZONES
AND ACTIVE SURVEILLANCE IN THE DOMESTIC HERD PAVE THE WAY TOWARDS A FULL THE
ASF-FREE STATUS

Ever since the first wild boar tested ASF-positive, Belgium
has succeeded in keeping domestic pigs and wild pigs kept in captivity free of
ASF contamination. If no infected boar is detected, Belgium could regain its
ASF-free status for all porcine animals in the Autumn of 2020. Denis Ducarme,
Belgian Minister of Agriculture: "We must remain vigilant to give back our
country its ASF-free status. This would lead to the abolishment of the last
embargoes on the export of our pork."

All this time, Belgian pork remained virus-free
and suitable for consumption and export. Therefore, trade of Belgian pork
remained free in the European Union. However, some third countries suspended
the import of Belgian pork. The ratification by the European Commission is an
important step towards the re-opening of these markets. For all latest details
on the measures taken and on the current situation in Belgium: www.fasfc.be/outbreaks-african-swine-fever

About Belgian Meat Office

SINGAPORE
- Media OutReach - 12
June 2020 - As digital transformation become the imperative for businesses in the face
of the Covid-19 pandemic, 58% of employers in Singapore are training their
workforce in technology-related skills to keep their businesses viable and
resilient during this period. This is one of the key findings in the recent NTUC LearningHub's Employer Skills
Survey report.

The
survey, which was conducted during the 'circuit breaker' in April 2020 with
business leaders across Singapore, aimed to uncover the most in-demand
skillsets across industries -- including Built Environment, Essential Domestic
Services, Lifestyle, Manufacturing,  and
Professional Services, and Trade  and&
Connectivity -  in the Covid-19 era.

Overall, in
terms of digital skills, competencies such as 'Digital Marketing' (voted by 44%),
'Project Management Skills' (voted by 43%), and 'Data Analysis' (voted by 40%),
had superseded other skills including 'Basic IT support' (voted by 33%) and 'Data-Driven
Decision Making Skills' (voted by 32%).

While Digital
Marketing skills were most sought-after by the Lifestyle (67%), Trade and
Connectivity (59%), and Professional Services industries (52%), Project
Management skills had higher priority for employers in Built Environment (66%) and
Essential Domestic Services (50%). For those in Manufacturing, Data Analysis
skills were the most critical (44%) to their company's survival.  

Commenting
on the findings, NTUC LearningHub's CEO, Mr Kwek Kok Kwong says, "Covid-19 has
transformed the way that many of us look at businesses and our lifestyle. Many
employers are readier than before to embrace digital solutions that previously
seemed daunting, and I foresee digitalisation becoming a core strategy for businesses.
In Singapore, we are fortunate in that our innovation is well supported by
funding schemes such as those for digital solutions, including e-commerce platforms. We also have a well-educated and adaptable workforce to support that
with some level of retraining."

"In this
new world order where social distancing is the new norm, a business' ability to
stand out amongst the crowd digitally would give it a competitive advantage and
that could explain why Digital Marketing emerged as the number one digital skill.
In a data-rich environment, the ability to use Data Analysis for
decision-making and the customisation clients' needs will be
a game-changer. We therefore see Data Analysis skills emerging high in the
ladder of skills in demand. Employers are also demanding not only workers who possess
strong Project Management skills to manage complex projects, but also those who
can sort out their backend workflow to make the customer journey a seamless
one."

To
download the full NTUC LearningHub's Employer Skills Survey report, visit https://campaign.ntuclearninghub.com/skills-report.

About NTUC LearningHub

NTUC LearningHub was corporatised in 2004 with
the vision of transforming the lifelong employability of working people. We
work with both corporate and individual clients to provide learning solutions
in areas such as Infocomm Technology, Healthcare, Employability & Literacy,
Business Excellence, Workplace Safety & Health, Security, Human Resources
and Foreign Worker Training.

To date, NTUC LearningHub has helped over
21,000 organisations and achieved over 2.5 million training places across more
than 500 courses with a pool of over 400 certified trainers. As a Total
Learning Solutions provider to organisations, we also forge partnerships and
provide a wide range of relevant end-to-end training solutions and work
constantly to improve our training quality and delivery. 

For more
information, visit www.ntuclearninghub.com.