NewzIntel.com

Category: Asia Pacific

  • MIL-OSI Global: Canada’s claim that it champions human rights is at odds with its mining practices

    Source: The Conversation – Canada – By Véronique Plouffe, PhD candidate in Feminist and Gender Studies, L’Université d’Ottawa/University of Ottawa

    Canada presents itself as a gender equality and human rights champion both at home and abroad. But it’s also a global leader in mining, an industry with an abysmal human rights record.

    Under the previous Conservative federal government, Canadian foreign aid was more directly aligned with mining and commercial interests. But when Liberal Justin Trudeau was elected in 2015, it appeared to signal a return to more “progressive” values.



    Read more:
    Justin Trudeau’s resignation creates a progressive void in Canada, part of a long-established cycle

    The launch of the Feminist International Assistance Policy in 2017 was a powerful symbol in this direction. But despite Canadian mining companies being accused of environmental and human rights violations in various countries, the Liberal government continues to actively support mining abroad.

    Canada is a global mining powerhouse, home to almost half of the world’s publicly listed mining and mineral exploration companies.

    According to 2023 data, Canadian mining companies operate in 95 foreign countries and the value of Canadian mining assets totalled $336.7 billion. Half of Canadian foreign mining assets are located in Latin America and the Caribbean.

    Canadian mining in Peru

    Peru is a key mining partner; 71 firms operate in the country and Canada has nearly $10 billion of mining assets in the South American country. Canada has the largest number of mining exploration projects in Peru at 24, and ranks third (after the United Kingdom and Peru itself) in terms of mining exploration investments.

    At last year’s Asia-Pacific Economic Cooperation meeting in Lima, Trudeau announced investments to create “a better future by focusing on a healthier planet and equal opportunities for all.” These included initiatives to support women’s and girls’ rights as well as improving access to the justice system for Indigenous and Afro-Peruvian communities.

    Trudeau also announced the creation of a Canada-Peru Dialogue of Critical Minerals and Mining Sustainability.

    But can Canada be both a human rights champion and a global mining leader? While Canada describes its mining industry as sustainable and socially responsible, human rights organizations paint a different picture.

    Backing Boluarte government

    Canadian mining companies have been accused in Peru of environmental contamination, criminalizing community leaders, land dispossession and the violation of Indigenous self-determination. Canada has also supported Peruvian mining law reforms in favour of foreign mining investment.

    Canada’s support of the current and highly unpopular Dina Boluarte government, which ousted left-wing president Pedro Castillo in 2022, points to the ongoing prioritization of mining interests over human rights, even those of Canadian citizens.

    Castillo meanwhile had proposed a plan to renegotiate mining contracts with multinational companies so that more profits stayed in Peru.

    The impact on women

    Reports have shown that women bear the brunt of mining’s negative impacts, which include gender violence, economic and food insecurity and health problems.

    Women human rights defenders confronting extractive industries also face gender-specific risks and challenges. Indigenous women are often at the forefront of resisting extractive projects.

    Despite the bold ambitions of Canada’s Feminist International Assistance Policy to promote a “more peaceful, more inclusive and more prosperous world,” critics have highlighted several weaknesses and challenges.

    Among them: insufficient funding, its instrumentalist approach (when women are used for broader economic and political goals), as well as its emphasis on neoliberal capitalist growth and the private sector.

    Some have also highlighted its lack of coherence with other policy areas, including trade and security, its support for Israel and its treatment of Indigenous women in Canada.



    Read more:
    Canada’s inaction in Gaza marks a failure of its feminist foreign policy

    Structural causes not addressed

    My ongoing research with civil society organizations in Peru suggests that Canada is providing much-needed and highly appreciated support for women’s rights, LGTBQ+ and Indigenous women’s organizations, namely through its Women’s Voice and Leadership Program. The positive impacts of such initiatives should not be overlooked.

    But even though these projects — often short-term — may benefit some people and some organizations, they often fail to tackle the structural causes of poverty and gender inequality. They also neglect to take into account Canada’s role in creating and maintaining global inequalities through its disruptive mining activities.



    Read more:
    The role of Canadian mining in the plight of Central American migrants

    For years, Canadian civil society organizations have been demanding greater accountability and regulation for Canadian overseas corporations. Despite promises to hold companies accountable for abuses abroad with the creation of the Ombudsperson for Responsible Enterprise, the Trudeau government has been criticized for failing to deliver on these pledges.

    With the possible election of a Conservative federal government in the coming months, it’s unlikely that tightening regulations for private Canadian companies operating in other countries will be a priority.

    Despite its feminist ambitions, taking a closer look at Canada’s role in countries where it has significant mining interests reveals a more complex and nuanced image of Canada in the world.

    Véronique Plouffe receives funding from the Social Sciences and Humanities Research Council (SSHRC).

    – ref. Canada’s claim that it champions human rights is at odds with its mining practices – https://theconversation.com/canadas-claim-that-it-champions-human-rights-is-at-odds-with-its-mining-practices-246757

    MIL OSI – Global Reports –

  • MIL-Evening Report: Trump’s ‘free speech’ vision comes at expense of press freedom

    Pacific Media Watch

    Among his first official acts on returning to the White House, President Donald Trump issued an executive order “restoring freedom of speech and ending federal censorship”.

    Implicit in this vaguely written document: the United States is done fighting mis- and disinformation online, reports the Paris-based global media watchdog Reporters Without Borders (RSF).

    Meanwhile, far from living up to the letter or spirit of his own order, Trump is fighting battles against the American news media on multiple fronts and has pardoned at least 13 individuals convicted or charged for attacking journalists in the 6 January 2021 insurrection.

    An RSF statement strongly refutes Trump’s “distorted vision of free speech, which is inherently detrimental to press freedom”.

    Trump has long been one of social media’s most prevalent spreaders of false information, and his executive order, “Restoring Freedom of Speech and Ending Federal Censorship,” is the latest in a series of victories for the propagators of disinformation online.

    Bowing to pressure from Trump, Mark Zuckerberg, whose Meta platforms are already hostile to journalism, did away with fact-checking on Facebook, which the tech mogul falsely equated to censorship while throwing fact-checking journalists under the bus.

    Trump ally Elon Musk also dismantled the meagre trust and safety safeguards in place when he took over Twitter and proceeded to arbitrarily ban journalists who were critical of him from the site.

    ‘Free speech’ isn’t ‘free of facts’
    “Free speech doesn’t mean public discourse has to be free of facts. Donald Trump and his Big Tech cronies like Elon Musk and Mark Zuckerberg are dismantling what few guardrails the internet had to protect the integrity of information,” said RSF’s USA executive director Clayton Weimers.

    “We cannot ignore the irony of Trump appointing himself the chief crusader for ‘free speech’ while he continues to personally attack press freedom — a pillar of the First Amendment — and has vowed to weaponise the federal government against expression he doesn’t like.

    “If Trump means what he says in his own executive order, he could start by dropping his lawsuits against news organisations.”

    Trump recently settled a lawsuit out of court with ABC News parent company Disney, but is still suing the Des Moines Register and its parent company Gannett for publishing a poll unfavourable to his campaign, and the Pulitzer Center board for awarding coverage of his 2016 campaign’s alleged ties with Russia.

    Trump should immediately drop both lawsuits and refrain from launching others while in office.

    After a campaign where he attacked the press on a daily basis, Trump has continued to berate the media and dismissed its legitimacy to critique him.

    During a press conference the day after he took office, Trump reproached NBC reporter Peter Alexander for questions about Trump’s blanket pardons of the January 6th riot participants, saying, “Just look at the numbers on the election.

    “We won this election in a landslide, because the American public is tired of people like you that are just one-sided, horrible people, in terms of crime.”

    An incoherent press freedom policy
     The executive order also flies in the face of his violent rhetoric against journalists.

    The order asserts that during the Biden administration, “the Federal government infringed on the constitutionally protected speech rights of American citizens across the United States in a manner that advanced the government’s preferred narrative about significant matters of public debate.”

    It goes on to state, “It is the policy of the United States to ensure that no Federal Government officer, employee, or agent engages in or facilitates any conduct that would unconstitutionally abridge the free speech of any American citizen.”

    This stated policy, laudable in a vacuum, even if made redundant by the First Amendment, is rendered meaningless by Trump’s explicit threats to weaponise the government against the media, which have recently included threats to revoke broadcast licenses in political retaliation, investigate news organizations that criticise him, and jail journalists who refuse to expose confidential sources.

    Instead, the policy appears designed to amplify disinformation, which benefits a President of the United States who has proven willing to spread disinformation that furthered his political interests on matters small and large.

    “If Trump is serious about his stated commitment to free speech, RSF suggests he begin by ensuring his own actions serve to protect the free press, rather than censoring or punishing media outlets,” the watchdog said.

    “The United States has seen a steady decline in its press freedom ranking in RSF’s World Press Freedom Index over the past decade to a current ranking of 55th out of 180 countries, with presidents from both parties presiding over this backslide.

    “While Trump is not entirely responsible for the present situation, his frequent attacks on the news media have no doubt contributed to the decline in trust in the media, which has been driven partly by partisan attitudes towards journalism.

    “Trump’s violent rhetoric can also contribute to real-life violence — assaults on journalists nearly doubled in 2024, when his campaign was at its apex, compared to 2023.”

    Pacific Media Watch collaborates with RSF.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Hong Kong Customs detects case involving possession of suspected “space oil drug” by passengers (with photo)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs detects case involving possession of suspected “space oil drug” by passengers (with photo)
    Hong Kong Customs detects case involving possession of suspected “space oil drug” by passengers (with photo)
    ******************************************************************************************

         Hong Kong Customs yesterday (January 25) detected a case involving possession of suspected etomidate (the main ingredient of “space oil drug”), a kind of Part 1 poison under the Pharmacy and Poisons Regulations, by incoming passengers at the China Ferry Terminal in Tsim Sha Tsui. One vape stick containing suspected “space oil drug” was seized.     A 18-year-old woman and a 19-year-old woman arrived Hong Kong from the China Ferry Terminal yesterday. During customs clearance, a vape stick containing suspected “space oil drug” was found from the handbag of the 18-year-old woman. Upon investigation, the 19-year-old woman was found to be connected with the case. Both of them were then arrested.       The arrested women, both claimed to be students, have been jointly charged with one count of possession of Part 1 Poison and the case will be brought up at the Kowloon City Magistrates’ Courts tomorrow (January 27).     Under the Pharmacy and Poisons Ordinance, any person who possesses any poison included in Part 1 of the Poisons List other than in accordance with provisions commits an offence. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for two years.     Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour report hotline 182 8080 or its dedicated crime reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

     
    Ends/Sunday, January 26, 2025Issued at HKT 20:05

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Officials pay caring visits across city

    Source: Hong Kong Information Services

    The Government’s principal officials today toured Yau Tsim Mong, Sha Tin, Kwai Tsing and Tuen Mun to meet different families and celebrate the Lunar New Year on the second day of the year-end caring visits in 18 districts.

    Accompanied by district officers, district council members and representatives from the District Services & Community Care Team, the officials learnt about citizens’ daily lives and needs as well as gave them blessing bags.

    Deputy Chief Secretary Cheuk Wing-hing visited an elderly singleton in Tai Kok Tsui and presented her with a fruit basket, lap-mei or Chinese preserved meats and a panda doll. 

    Mr Cheuk also shared the festive joy with a family newly-arrived in Hong Kong residing in Tai Kok Tsui.

    While Deputy Secretary for Justice Cheung Kwok-kwan engaged with grassroots families, an elderly couple and an elderly singleton living in Shui Chuen O Estate, Sha Tin.

    In addition, Secretary for Development Bernadette Linn met singleton seniors in Kwai Fong Estate.

    Meanwhile, Secretary for Home & Youth Affairs Alice Mak called on an elderly singleton and a person with disabilities living in Tin King Estate, Tuen Mun.

    The principal officials will continue to visit different families in the coming two days to extend care and blessings and bring festive joy to the public.

    MIL OSI Asia Pacific News –

  • MIL-OSI NGOs: Negosyo napamura nang husto mga produkto sa pagtanggal ng single-use plastic

    Source: Greenpeace Statement –

    Video grab from Rico Ibarra / Greenpeace

    QUEZON CITY, Philippines — Kapag sinabing “environmentally friendly” ang isang produkto, iniisip na mahal, sosyal, at pangmayaman ito nang marami. Pero ang isang negosyo, may sikreto kung bakit abot-kaya ang kanilang sustainable cleaning products — ang pagtanggal ng single-use plastic (SUP) mula sa produksyon.

    Hulyo 2022 nang magsimula ang kwento ng Sabon Express, sa layuning mahikayat ang publikong gumamit ng boteng matatagpuan na sa kanilang bahay sa tuwing bibili ng sabong panlinis. Ani Mellany Zambrano, Chief Executive Officer (CEO) ng kumpanya, talamak kasi ang bentahan ng household cleaning materials sa plastic sachet at mga boteng itatapon lang din.

    “Our campaign is towards [a] refill revolution,” sabi ni Mellany sa panayam ng Greenpeace Philippines. “So ‘yun ‘yung pangarap namin, na ‘yung mga Pilipino ay magiging responsable sa paggamit ng mga plastic na bote at mga lalagyan. Hindi ‘yung wala lang tayong pakialam na we are after convenience, na bumibili tayo, bumibili, kumukonsumo, at nagtatapon ng plastic.”

    “So ang gusto natin is bumili tayo consciously, magkonsumo tayo at maging responsable tayo na hindi tayo makadagdag sa lumalalang plastic pollution.”

    Video grab from Rico Ibarra / Greenpeace

    “Sachet country” kung ituring ng ilan ang mga bansang Third World gaya ng Pilipinas. Aabot sa 164 milyong sachet ang ginagamit sa bansa araw-araw, bagay na naiipon sa mga landfill, kanal at karagatan. Ito ay dahil sa walang-tigil na produksyon ng SUPs ng mga malalaking korporasyon at kawalan ng batas para  rito. 

    Marami rito’y pinaglagyan ng personal care (19%) o household cleaning products (17%). Hindi ito nabubulok at bumabara sa mga estero, bagay na nagpapalala sa baha tuwing may bagyo. Nadudurog lang ito hanggang sa maging microscopic. Pwede itong malanghap, mainom, o makain bilang “microplastic” na siyang nagdudulot ng pagkabaog at cancer.

    ‘Di gaya ng mararangyang bayan, limitado ang kakayahan ng mga Pinoy na bumili nang bultuhan. Dahil dito, pumatok ang konsepto ng “tingi” na siyang sinakyan ng mga dambuhalang kumpanya lalo na’t hindi ito mabigat sa bulsa. Nakapako kasi sa P645 kada araw ang minimum wage sa Metro Manila — ang pinakamataas sa buong Pilipinas — samantalang P1,205 kada araw ang kinakailangang kita ng pamilyang may limang miyembro para mabuhay nang disente.

    Plastic packaging: salarin sa mahal na produkto?

    Isa sa appeal ng plastic ay ang “mababang presyo” nito. Pero alam n’yo bang malaking bahagi ng binabayaran ng consumer sa mga produkto ay packaging?

    Karaniwang 10% hanggang 40% ng kabuuang retail price ng iyong binibili ay dahil sa lalagyan nito. Gayunpaman, dedepende ito sa uri ng packaging material na ginamit, laki at bigat ng produkto, at production process. Ito’y nasa porma ng plastic na bote, galon, sticker labels, shrink plastics o sachet na madalas itinatapon matapos ang isang gamit.

    Video grab from Rico Ibarra / Greenpeace

    Sa pagtalikod ng Sabon Express sa SUPs at pag-engganyo sa customers magdala ng sariling bote at lalagyan, nagawa tuloy nilang makapaglabas ng produktong mas mura kaysa sa mga ibinebenta sa malls at supermarkets. 

    “Every time na bumibili kayo ng inyong mga produkto na gumagamit ng mga single-use plastics… at itinatapon niyo, hindi lang kayo nakakadagdag sa polusyon kundi actually nagsasayang po kayo ng pera,” prangkahang pagbabahagi ni Mellany.

    “Kami po as manufacturer, ito po ay tapat na sinasabi namin sa inyo. Kayo po actually ay nagsasayang ng minimum 30% to a maximum of 70% [ng presyo ng produkto] sa packaging na itinatapon ninyo… So, imagine ninyo po ‘yung mase-save po ninyo [oras na umiwas kayo rito] at imagine din po ninyo yung perang itinatapon ninyo every time po nagpa-patronize kayo yung single-use plastic.”

    Sa halagang P20, makabibili ka na ng 400 milliliters na dishwashing liquid sa Sabon Express. Ang kailangan mo lang gawin, magdala ng sariling bote o lalagyang ire-refill. Malayo ang presyo nito kumpara sa mahigit-kumulang P100 halagang dishwashing liquid (355 ml sachet refill pack) na mabibili gaya ng kilalang brand na Joy.

    Video grab from Rico Ibarra / Greenpeace

    Ang Sabon Express ay isang case study ng University of Portsmouth sa United Kingdom bilang bahagi ng research at campaign nito sa pagbubuo ng isang Global Plastics Treaty. Una nang sinabi ni Mellany na naging katuwang nila ang Department of Science and Technology (DOST) sa pagtitimpla ng kanilang mga produkto.

    Gayunpaman, aminado si Mellany na wala pang insentibo mula sa gobyerno para itulak ang mga negosyong maging plastic-free. Malaki raw sana ang magagawa ng pagpapababa ng buwis para mga negosyong gaya ng kanila para maeengganyo ang iba pa. Bukod pa rito, mainam daw kung mapapadali ang pagproproseso ng business permits atbp. dokumento.

    ‘Kulturang tingi’ pwede palang eco-friendly

    Isa ang kulturang “tingi” ng mga Pilipino — o pagbili ng mga produkto sa maliitang sukat — sa isinisisi ng ilan sa pamamayagpag ng mga plastic sachet atbp. SUPs sa bansa. Pero alam n’yo bang environmentally-sustainable ang pinagmulan nito bago i-hijack ng mga korporasyon gamit ang mga plastic na pakete? 

    Tradisyunal na nagdadala ng kani-kanilang mga bote, garapon at bayong ang mga Pinoy noon sa mga palengke at sari-sari store na siya nilang pinupuno ng produkto sa tuwing bibili. Ang “reuse and refill” practice na ito ang nais ibalik ng mga negosyo gaya ng Sabon Express, bagay na kanilang minomodernisa sa pamamagitan ng mga makabagong kagamitan.

    Kaugnay nito, nagdisenyo sila ng mga agaw-pansing vendo machines para mapadali ang proseso ng refilling sa kanilang mga tindahan. Hindi inumin o pagkain ang iniluluwa nito kundi dishwashing liquid, fabric conditioner, liquid detergent at hand soap. Puwede itong sahurin gamit ang mga lalagyang dala ng customer kontra plastic pollution.

    Tumatanggap ang kanilang mga makina ng P5, P10, at P20 barya.

    Video grab from Rico Ibarra / Greenpeace

    “Our dream is to be visible in all supermarkets, convenience stores, public markets, grocery stores,” patuloy ni Mellany. 

    “Pangarap po namin na laging merong Sabon Express dispensing machines or vendo machines na makakapag-offer ng murang produkto para sa mga Pilipino, para sa mga consumers na magdadala ng sarili nilang [containers]… para mabigyan po ng pagkakataon ‘yung lahat ng Pilipino na makabili ng produkto na high quality pero very affordable.” 

    ‘Plastics Treaty’ at insentibo sa sustainable MSMEs

    Bahagi ang Sabon Express, sampu ng iba pang progresibong negosyo, sa lumalawak na koalisyong Champions of Change. Layon nitong pagbuklurin ang mga Micro, Small and Medium Enterprises (MSME) atbp. negosyong lumalaban sa krisis ng SUPs. Nabuo ito sa inisyatiba ng Greenpeace International, Plastic Pollution Coalition and the Break Free From Plastic.  

    Lumaki ang grupo sa hanay ng mga entrepreneur habang hindi pa rin napagkakaisahan ng mga kasapi ng United Nations ang isang Global Plastics Treaty. Itinutulak dito ng Greenpeace ang hindi bababa sa 75% na pagbabawas sa produksyon ng plastic kasabay ng SUP bans. 

    Ayon kay Mellany, malaki ang maitutulong ng isang malakas na tratado sa pagsugpo ng plastic pollution para makapagbalangkas ng polisya ang mga bansang aayon at raratipika rito.

    “A more concrete [example of this would be] sana… ma-incentivize ‘yung mga MSMEs na kagaya namin at magkaroon ng solid support ng government sa mga negosyo [na plastic-free],” paliwanag niya nang matanong kung ano ang nais niyang makita sa kasunduan.

    Video grab from Rico Ibarra / Greenpeace

    Dagdag pa niya, responsibilidad ng mga negosyong maging kampeon ng kalikasan upang matiyak na malinis at mapakikinabangan ito ng mga susunod na henerasyon. Aniya, walang “satellite Earth” na malilikasan ang mga tao kung saka-sakaling tumindi ang krisis.

    Napipintong plantsahin ng huling pagpupulong ng Intergovernmental Negotiating Committee (INC) ang isang Global Plastics Treaty sa darating na 2025. Nananawagan ang Greenpeace Philippines sa UN member states na pagkaisahan ang isang tratadong magtitiyak ng karapatan sa kalusugan at ligtas na kapaligiran habang hinihikayat ang publikong suportahan ang mga negosyong tumatalikod sa plastic wala pa mang kasunduan. 

    Pumirma rito para ipakita ang suporta.

    ###

    Support a strong Plastics Treaty!

    Help build a plastic-free future.

    SIGN THE PETITION

    MIL OSI NGO –

  • MIL-OSI China: China’s foreign investment, cooperation remain stable in 2024: official

    Source: People’s Republic of China – State Council News

    BEIJING, Jan. 26 — China’s foreign investment and cooperation saw steady growth in 2024, an official with the Ministry of Commerce (MOC) said Sunday.

    The country’s non-financial outbound direct investment rose 10.5 percent year on year to 143.85 billion U.S. dollars last year, with investments in the Association of Southeast Asian Nations (ASEAN) countries increasing by 12.6 percent year on year, according to the official.

    Investments in leasing, business services, manufacturing, and wholesale and retail sectors drove the growth. The turnover of China’s foreign contracted projects totaled 165.97 billion U.S. dollars in 2024, an increase of 3.1 percent year on year, the official said.

    In 2024, the number of workers dispatched abroad reached 409,000, a 17.9 percent increase year on year, with a total of 594,000 Chinese workers employed overseas by the end of the year.

    Non-financial investment in countries along the Belt and Road increased by 5.4 percent year on year to 33.69 billion U.S. dollars last year, MOC data showed.

    MIL OSI China News –

  • MIL-OSI China: ‘Detective Chinatown’ franchise marks 10th anniversary

    Source: China State Council Information Office 3

    A banquet on Saturday marked the 10th anniversary of Chen Sicheng’s blockbuster “Detective Chinatown” franchise while also showcasing its latest installment, which is scheduled for release during the Spring Festival.

    The cast and crew of the “Detective Chinatown” series pose for a group photo at a banquet celebrating the 10th anniversary of the blockbuster franchise in Beijing, Jan. 25, 2025. [Photo/China.org.cn]

    Past and present cast and crew members gathered for the occasion, along with executives, investors and collaborators involved in the franchise. Among those in attendance were director Chen, the architect of the franchise, and its two most recognizable leading actors, Wang Baoqiang and Liu Haoran.

    The event was filled with emotional moments as stars and fans exchanged greetings and gifts in person and via video clips, posed for photos, and cut a giant birthday cake. Chen shed tears upon seeing a video montage with congratulations from overseas Chinese who may not return to China for the Chinese New Year but voiced their support for the franchise. “I believe they will have truly unique feelings when they see our new installment, ‘Detective Chinatown 1900,’” he said on stage.

    The banquet served as a culminating event to promote “Detective Chinatown 1900,” the fourth entry and prequel in the wildly successful franchise. The director emphasized the film’s focus on exploring the origins of Chinatown in San Francisco.

    “When we made this film, we needed to understand why Chinatown existed in the first place,” he said. “When we went back to its beginnings, we discovered that Chinatown was not created for glory, but because of humiliation. Although our film is set in 1900, this story remains meaningful and poignant for us today. I hope we always use history as a mirror and a warning, and I hope China remains strong and does not revert to the backward ways of the past. We should thank the contemporary era and remember the pain it brought us. We must continuously strive for self-improvement, for only through this can we persevere.”

    The new film also introduces a character played by Hong Kong legend Chow Yun-fat, who plays an influential figure in protecting Chinese immigrants and contributing to the establishment of Chinatown. Chen said he wrote the script with Chow in mind, tailoring the role for one of his idols.

    The filmmaker highlighted the 1:1 scale replica of San Francisco’s Chinatown, which was constructed for the film and features over 200 buildings of different styles. This project was completed in just seven months at Laoling Film Studio in Shandong province, with support from the local government and businesses. 

    “This is Chinese speed, and it has created a miracle in Chinese film history,” the filmmaker said. “Many actors, including foreign performers, were in awe when they walked onto the set. I want to thank so many people, but I especially want to thank this era, which gives us filmmakers the opportunity to achieve our dreams.”

    This replica of San Francisco’s Chinatown will open to the public during the Spring Festival, coinciding with the film’s release.

    Actor Chow Yun-Fat and his wife interact with Chen Sicheng on stage at a banquet celebrating the 10th anniversary of the blockbuster franchise in Beijing, Jan. 25, 2025. [Photo/China.org.cn]

    Executives and distributors from competing film projects for the upcoming holiday season also attended the banquet. The presale box office for the six biggest movies has already surpassed 600 million yuan ($82 million) as of Sunday noon.

    “Let’s work in unity to boost China’s film market, set new records and bring confidence to our filmmakers and audiences,” Chen said.

    Looking at the familiar faces and new colleagues gathered, Chen remarked on the passage of time and the happiness it brings. “The past decade has been so interesting; it seems everything has changed, yet not much has changed. We are still here and working together.”

    Chow offered: “I hope you continue making ‘Detective Chinatown’ for the next 10, 20 and 30 years, and that I can still act in ‘Detective Chinatown’ when I’m 90.” His remarks drew enthusiastic cheers that echoed throughout the venue.

    MIL OSI China News –

  • MIL-OSI China: Visa-free policies ignite surge in foreign tourist arrivals

    Source: People’s Republic of China – State Council News

    BEIJING, Jan. 26 — As China continues to relax its visa-free policies, the country has seen a notable increase in foreign visitors joining the Spring Festival travel rush, eager to experience its rich cultural traditions.

    The Spring Festival travel rush, or chunyun, began on Jan. 14 and will continue through Feb. 22. Preliminary statistics show that ticket bookings for inbound flights during this period surged 47 percent year on year.

    As Japanese traveler Kyoko Shimada touched down at Shanghai Hongqiao International Airport, she was greeted by a vibrant display of red lanterns and paper cuttings featuring the Chinese character “fu,” a symbol of good fortune.

    Having long dreamed of visiting China, Shimada and her husband seized the chance to travel just ahead of the Spring Festival, taking advantage of China’s visa-free policy for Japanese citizens.

    “Although the airport was busy before the holiday, the immigration process was smooth and faster than I expected. The signs were clear, and some were even in Japanese,” Shimada said. During their three-day stay in Shanghai, the couple plans to enjoy the traditional lantern shows in the ancient Yuyuan Garden and savor the city’s local cuisine.

    In 2024, China further relaxed its visa policies to enhance openness and promote people-to-people exchanges, allowing more foreign travelers and business people to visit the country visa-free.

    A key development was the introduction of expanded unilateral visa-free entry policies in November 2024, allowing ordinary passport holders from 38 countries to stay in China for up to 30 days without needing a visa.

    The following month, China announced a relaxation in its visa-free transit policy, increasing the permitted stay for eligible foreign travelers to 240 hours, up from the previous limits of 72 or 144 hours.

    According to Trip.com Group, China’s online travel service giant, inbound travel orders from foreign tourists surged by 203 percent year on year during the Spring Festival, with the majority of visitors coming from the Republic of Korea, Malaysia, Singapore and Japan.

    Recently, Thai tourist Ruchanewan Binsaree traveled to the ancient city of Xi’an, the capital of northwest China’s Shaanxi Province, with a friend. “I’ve visited cities like Shanghai and Hangzhou before, but we came here specifically to see the famous Terracotta Warriors,” Binsaree said.

    During their trip, they explored the city’s historic architecture, strolled along a pedestrian street adorned with festive lanterns, and enjoyed watching locals dressed in red Hanfu, a traditional style of Chinese clothing.

    Since the first day of the Spring Festival travel rush, Xi’an’s port has welcomed more than 3,100 inbound foreign visitors, marking a 187 percent increase compared to the same period last year. Among them, over 1,800 availed of the visa-free policies, while more than 360 took advantage of the 240-hour visa-free transit option.

    Beyond air travel, the high-speed railway has become a popular option for foreign tourists during the Spring Festival rush, thanks to its convenience and efficiency.

    “We originally planned to visit northern cities for the Spring Festival, but the high-speed railway made it possible to explore more places in a shorter time,” said a tourist from the Netherlands, as she waited at Guangzhou South Railway Station in south China’s Guangdong Province. “We are eager to experience the unique traditions of different cities during the Chinese New Year, making this Spring Festival even more memorable.”

    Praising the clean, well-maintained environment of China’s railway stations, she said, “The process of entering the station was particularly smooth. Simply swiping my passport verified my identity and ticket information.”

    “China’s ongoing efforts to ease visa-free policies have attracted a growing number of foreign tourists, providing them with the opportunity to experience the country’s rich cuisine, vibrant culture and beautiful landscapes,” said Zhu Mao, deputy director of the culture and tourism development commission of southwest China’s Chongqing Municipality.

    This trend serves as a valuable platform for fostering people-to-people exchanges and deepening global understanding of China, he added.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Principal Officials of HKSAR Government continue year-end caring visits in 18 districts (with photos)

    Source: Hong Kong Government special administrative region

         The year-end caring visits in 18 districts co-ordinated by the Home Affairs Department continued today (January 26). Principal Officials (POs) of the Hong Kong Special Administrative Region (HKSAR) Government continued to tour various districts today, including Yau Tsim Mong, Sha Tin, Kwai Tsing and Tuen Mun Districts, to visit different families and chat with them, learn about their living conditions, distribute blessing bags in celebration of the Chinese New Year, share the festive joy and celebrate the Chinese New Year together.
          
         Accompanied by the District Officer (Yau Tsim Mong), Mr Edward Yu, the Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing, together with Yau Tsim Mong District Council members and representatives from the District Services and Community Care Team (Care Team) (Yau Tsim Mong), visited an elderly singleton and a new arrival family living in Tai Kok Tsui to learn about their daily lives and needs, and share the festive joy.
          
         Accompanied by the District Officer (Sha Tin), Mr Frederick Yu, the Deputy Secretary for Justice, Dr Cheung Kwok-kwan, together with a Sha Tin District Council member and representatives from the Care Team (Sha Tin), visited grassroots families, an elderly couple and an elderly singleton living in Shui Chuen O Estate, Sha Tin, to learn about their needs and share the festive joy of the Chinese New Year together.

         In addition, accompanied by the District Officer (Kwai Tsing), Mr Huggin Tang, the Secretary for Development, Ms Bernadette Linn, together with a Kwai Tsing District Council member and representatives from the Care Team (Kwai Tsing), visited singleton elderly people living in Kwai Fong Estate. Accompanied by the District Officer (Tuen Mun), Mr Michael Kwan, the Secretary for Home and Youth Affairs, Miss Alice Mak, together with a Tuen Mun District Council member and representatives from the Care Team (Tuen Mun), visited an elderly singleton and a person with disabilities living in Tin King Estate.
          
         The POs of the Government will continue to visit different families during the coming two days to extend care and blessings, and bring festive joy to the public.               

    MIL OSI Asia Pacific News –

  • MIL-OSI China: 2025 ‘Happy Chinese New Year’ global launching ceremony and gala held in Malaysian capital

    Source: People’s Republic of China – State Council News

    2025 ‘Happy Chinese New Year’ global launching ceremony and gala held in Malaysian capital

    Traditional Chinese Wushu is performed at the 2025 “Happy Chinese New Year” global launching ceremony and gala in Kuala Lumpur, Malaysia, on Jan. 25, 2025. [Photo/Xinhua]

    KUALA LUMPUR, Jan. 26 — The 2025 “Happy Chinese New Year” global launching ceremony and gala was held here on Saturday evening, featuring wonderful performances presented by actors from Malaysia and China.

    Malaysian Prime Minister Anwar Ibrahim, China’s Minister of Culture and Tourism Sun Yeli, and Malaysian Minister of Tourism, Arts and Culture Tiong King Sing attended the event and delivered speeches.

    At the beginning of the ceremony, distinguished guests from both the Malaysian and Chinese governments jointly performed the “dotting of the lion’s eyes” ritual, officially inaugurating the event.

    During the event, artists from China, Malaysia, Britain, France, the United States, New Zealand, Egypt, Cambodia, Kazakhstan, and some other countries collaborated in performances, fully showcasing the cultural essence of the Chinese New Year (Spring Festival) and creating a festive atmosphere of global celebration.

    Malaysian Prime Minister Anwar Ibrahim addresses the 2025 “Happy Chinese New Year” global launching ceremony and gala in Kuala Lumpur, Malaysia, on Jan. 25, 2025. [Photo/Xinhua]

    The “Happy Chinese New Year” celebrations worldwide, organized by the Chinese Ministry of Culture and Tourism, have been held annually for 25 consecutive years.

    The year 2025 will mark the first Chinese New Year following the festival’s successful inscription on UNESCO’s list of Intangible Cultural Heritage of Humanity.

    This year, the “Happy Chinese New Year” event will feature nearly 500 diverse performances and exhibitions across more than 100 countries and regions worldwide.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: HA shopping centres’ panda decorations to welcome Year of Snake (with photos)

    Source: Hong Kong Government special administrative region

    HA shopping centres’ panda decorations to welcome Year of Snake (with photos)
    HA shopping centres’ panda decorations to welcome Year of Snake (with photos)
    *****************************************************************************

    The following is issued on behalf of the Hong Kong Housing Authority:     To welcome the Year of the Snake, the Hong Kong Housing Authority (HA) has put up festive New Year decorations featuring lovely pandas in its various commercial properties.      “To celebrate the joyous Lunar New Year, the HA’s regional shopping centre in Yau Tong, Domain, features the theme ‘Lion Dance, New Attire and Dream Building’. There are plenty of performances and festive decorations for all visitors to enjoy while they shop,” said a spokesman for the HA today (January 26).      Domain dresses up the pandas in lion dance cape and features decorations of the crossover of pandas and lion dance, the latter being one aspect of Hong Kong’s intangible cultural heritage. In collaboration with a renowned local designer of traditional Chinese attire, colourful light installations have been placed in the Atrium and Rooftop Garden. With advanced technology integrated with traditional Lunar New Year elements, Domain offers an immersive experience for all visitors.      There are also delightful panda decorations at the HA’s Cheung Ching Commercial Complex in Tsing Yi, Queens Hill Shopping Centre in Sheung Shui, and Ching Long Shopping Centre in Kowloon City to enliven the festive mood.      To encourage and support young people in pursuing their entrepreneurial dreams, the HA launched the “Well Being‧Start-up” Programme. This programme offers rent-free shop premises in HA shopping centres (including Domain, Kai Chuen Shopping Centre, Hoi Lai Shopping Centre, Shui Chuen O Plaza, Kwai Chung Shopping Centre, Lei Muk Shue Shopping Centre and Queens Hill Shopping Centre) to young people to trial their business plans.      To celebrate the New Year, members of Domain Club may redeem a set of lai see packets with 300 bonus points or two sets with 500 bonus points from now on while stocks last at Domain. Inside each lai see is a 10 per cent off coupon for shopping at 14 of the participating shops under the “Well Being‧Start-up” Programme. Shoppers can support local young start-ups at the start of the happy new year.      In addition, Domain will organise a Lunar New Year Fair and evening street performances at the Open Plaza from January 22 to 28. There will also be two special weekend events on February 2 and 9, respectively, featuring parades of the God of Wealth and lion dance performances.      “To attract patronage to the HA’s retail provisions, free parking will be offered to shoppers who spend a designated amount at the HA’s retail facilities, restaurants or wet markets. Also, Domain and Yau Lai Shopping Centre will provide free parking for members of Domain Club, subject to specified spending requirements. For more details, please refer to the notices at the shopping centres,” the spokesman added.

     
    Ends/Sunday, January 26, 2025Issued at HKT 14:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Black box of S. Korea’s crashed plane stops recording after bird strike warning

    Source: China State Council Information Office

    This photo shows the site of an airplane crash at the Muan International Airport, some 290 km southwest of Seoul, South Korea, Dec. 29, 2024. [Photo/NEWSIS via Xinhua]

    The black box of an airplane that crashed in South Korea’s southwestern airport late last month stopped recording just a minute after the warning of bird strike, the transport ministry said Saturday.

    The Ministry of Land, Infrastructure and Transport’s aviation railway accident investigation committee held a meeting with the bereaved families to disclose the analysis of the passenger jet’s flight data recorder (FDR) and cockpit voice recorder (CVR).

    The flight control tower warned the ill-fated plane of a possible bird strike just one minute before the jet’s FDR and CVR stopped recording simultaneously.

    Immediately before the discontinued recording, the plane’s power supply was believed to have been cut off as both of its engines collided with birds.

    One of the pilots declared a Mayday, caused by the bird strike, to the control tower during a go-around.

    The airport’s closed-circuit television (CCTV) footage showed that the airplane struck a flock of birds, while feathers and bloodstains of one of the country’s most common winter birds were found from both of the engines.

    On Dec. 29 last year, the passenger jet landed without heels, skidded off the runway and hit a concrete mound equipped with a localizer at the end of the runway at Muan International Airport, some 290 km southwest of the capital Seoul.

    The localizer refers to a part of the instrument landing system providing aircraft with runway centerline guidance.

    A total of 179 of the 181 people aboard the aircraft were confirmed dead. Only two were rescued.

    MIL OSI China News –

  • MIL-OSI Global: Finding ‘Kape’: How Language Documentation helps us preserve an endangered language

    Source: The Conversation – Indonesia – By Francesco Perono Cacciafoco, Associate Professor in Linguistics, Xi’an Jiaotong-Liverpool University

    Shiyue Wu, a member of Francesco Perono Cacciafoco’s research team at Xi’an Jiaotong-Liverpool University (XJTLU), who is currently developing intensive fieldwork in Alor Island to document and preserve endangered languages, discovered and first documented Kape during a Language Documentation fieldwork in August 2024 and therefore actively contributed to this study.

    As of 2025, more than 7000 languages are spoken across the world. However, only about half of them are properly documented, leaving the rest at risk of disappearing.

    Globalisation has propelled languages such as English and Chinese into the mainstream, and they now dominate global communication.

    Parents today prefer their children learn widely-spoken languages. Meanwhile, indigenous languages, such as Copainalá Zoque in Mexico and Northern Ndebele in Zimbabwe, are not even consistently taught in schools.

    Indigenous people generally did not use writing for centuries and, therefore, their languages do not have ancient written records. This has contributed to their gradual disappearance.

    To prevent the loss of endangered languages, field linguists – or language documentarists – work to ensure that new generations have access to their cultural heritage. Their efforts reveal the vocabulary and structure of these languages and the stories and traditions embedded within them.

    My research team and I have spent over 13 years documenting endangered Papuan languages in Southeast and East Indonesia, particularly in the Alor-Pantar Archipelago, near Timor, and the Maluku Islands. One of our significant and very recent discoveries is Kape, a previously undocumented and neglected language spoken by small coastal communities in Central-Northern Alor.

    Not only is the discovery important for mapping the linguistic context of the island, but it also highlights the urgency of preserving endangered languages by employing Language Documentation methods.

    The discovery of Kape

    In August 2024, while working with our Abui consultants, Shiyue Wu, my Research Assistant at Xi’an Jiaotong-Liverpool University, discovered a previously-ignored, presumably undocumented Papuan language from Alor, ‘Kape’.

    At the time, she was gathering information about the names and locations of ritual altars known as ‘maasang’ in the Abui area, with assistance from our main consultant and several native speakers. In Central Alor, every village has a ‘maasang’.

    During conversations about the variants in altar names across Alor languages and Abui dialects, some speakers mentioned the name of the ‘maasang’ (‘mata’) in Kape—a language previously unrecorded and overlooked in linguistic documentation.

    ‘Kape’ translates to ‘rope’, symbolising how the language connects its speakers across the island, from the mountains to the sea. Geographically and linguistically, it is associated with Kabola in the east and Abui and Kamang in Central Alor.

    At this stage, it is unclear whether Kape is a distinct language or a dialect of Kamang, as the two are mutually intelligible. Much of Kape’s basic lexicon (the collection of words in one language), indeed, shares cognates (related words among languages) with Kamang.

    However, Kape is spoken as the primary (native) language by the whole Kape ethnic group of Alor, and the speakers consider themselves an independent linguistic and ethnic community. This could serve as an element for regarding Kape as a language.

    Kape also shows connections with Suboo, Tiyei, and Adang, other Papuan languages from Alor Island. The speakers, known as ‘Kafel’ in Abui, are multilingual, fluent, to some extent, in Kape, Kamang, Bahasa Indonesia, Alor Malay, and, sometimes, Abui.

    So far, no historical records have been found for Kape, though archival research may reveal more about its origins. Based on its typology and lexical characteristics, Kape appears as ancient as other languages spoken in Alor. Like many Papuan languages, it is critically endangered and requires urgent documentation to preserve its legacy.

    Documenting languages: An ongoing challenge

    Language Documentation aims to reconstruct the unwritten history of indigenous peoples and to guarantee the future of their cultures and languages. This is accomplished by preserving endangered, scarcely documented or entirely undocumented languages in disadvantaged and remote areas.

    External sources, like diaries by missionaries and documentation produced by colonisers, can help reconstruct some historical events. However, they are insufficient for providing reliable linguistic data since the authors were not linguists.

    My research team and I document endangered languages, starting with their lexicon and grammar. Eventually, we also explore the ancient traditions and ancestral wisdom of the native speakers we work with.

    We have contributed to the documentation of several Papuan languages from Alor Island, especially Abui, Kula, and Sawila. These languages are spoken among small, sometimes dispersed communities of indigenous peoples belonging to different but related ethnic clusters.

    They communicate with each other mostly in Bahasa Indonesia and Alor Malay. This is because their local languages are almost never taught in schools and are rarely used outside their groups.

    Over time, in addition to documenting their lexicons and grammars, we worked to reconstruct their place-names and landscape names, oral traditions, foundation myths, ancestral legends and the names of plants and trees they use.

    We also explored their traditional medical practices and local ethnobotany, along with their musical culture and number systems.

    Safeguarding Kape is not just linguistically relevant. Its preservation and documentation are not just about attesting its existence – they also contribute to revitalising the language, keeping it alive, and allowing the local community to rediscover its history, knowledge, and traditions to pass down to the next generations.

    This journey has just begun, but my team and I – with the indispensable collaboration from our local consultants and native speakers – are prepared to go all the way towards its completion.

    Francesco Perono Cacciafoco received funding from Xi’an Jiaotong-Liverpool University (XJTLU): Research Development Fund (RDF) Grant, “Place Names and Cultural Identity: Toponyms and Their Diachronic Evolution among the Kula People from Alor Island”, Grant Number: RDF-23-01-014, School of Humanities and Social Sciences (HSS), Xi’an Jiaotong-Liverpool University (XJTLU), Suzhou (Jiangsu), China, 2024-2025.

    – ref. Finding ‘Kape’: How Language Documentation helps us preserve an endangered language – https://theconversation.com/finding-kape-how-language-documentation-helps-us-preserve-an-endangered-language-247465

    MIL OSI – Global Reports –

  • MIL-OSI Australia: Police update on city events

    Source: South Australia Police

    Police were pleased with the overwhelming majority of community members who attended the Adelaide CBD today to participate in the events held, including the Tour Down under and other Australia Day events.

    At least a dozen people from across the Country, not involved in organised events or protests, were arrested and charged with various street offences including failing to cease loiter, possess articles of disguise, hinder and resist arrest. One of the males arrested has also been charged with displaying a Nazi symbol.

    Further details on arrests will be released later this afternoon.

    Police would like to thank those people who safely and peacefully attended city events.

    MIL OSI News –

  • MIL-OSI: Key Tronic Corporation Announces Results for the First Quarter of Fiscal Year 2025

    Source: GlobeNewswire (MIL-OSI)

    SPOKANE VALLEY, Wash., Nov. 05, 2024 (GLOBE NEWSWIRE) — Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced its results for the quarter ended September 28, 2024.

    For the first quarter of fiscal year 2025, Key Tronic reported total revenue of $131.6 million, compared to $150.1 million in the same period of fiscal year 2024. Revenue in the first quarter of fiscal year 2025 was adversely impacted by customer-driven design and qualification delays of three programs that we believe impacted revenue by approximately $9 million. These delays have since been resolved on two of these programs and shipments have resumed in the second quarter.   Production in Key Tronic’s Mexico facilities in the first quarter of fiscal year 2025 increased by approximately 10% sequentially from the prior quarter.  

    The Company saw significant improvement in its production efficiencies compared to the first quarter of fiscal year 2024, primarily as a result of recent headcount reductions, continued improvements in the supply chain and a favorable decline in the exchange rate of the Mexican Peso. Gross margins were 10.1% and operating margins were 3.4% in the first quarter of fiscal year 2025, up from 7.2% and 2.2%, respectively, in the same period of fiscal year 2024.

    Net income was $1.1 million or $0.10 per share for the first quarter of fiscal year 2025, compared to net income of $0.3 million or $0.03 per share for the same period of fiscal year 2024.   Adjusted net income was $1.2 million or $0.11 per share for the first quarter of fiscal year 2025, compared to $0.0 million or $0.00 per share for the same period of fiscal year 2024. See “Non-GAAP Financial Measures,” below for additional information about adjusted net income and adjusted net income per share.

    “While we did not meet revenue expectations in our first quarter of fiscal 2025 due to unavoidable delays for a few programs, we are pleased to see our improved operating efficiencies, margins, and liquidity,” said Brett Larsen, President and CEO. “The recent workforce reductions in Mexico, trimming of non-profitable programs, and making a concerted effort to improve working capital are starting to pay off.   We also continued to reduce our inventories, which are now much more in line with our revenue levels. Over the longer term, we expect that these strategic changes will improve our overall profitability.”  

    “During the first quarter, we also continued to win new business, including new programs in manufacturing equipment, vehicle lighting, and commercial pest control.   We believe we are well positioned for increased growth and profitability in coming periods.”

    The financial data presented for the first quarter of fiscal 2025 should be considered preliminary and could be subject to change, as the Company’s independent auditor has not completed their review procedures.

    Business Outlook

    For the second quarter of fiscal 2025, Key Tronic expects to report revenue in the range of $130 million to $140 million and earnings in the range $0.05 to $0.15 per diluted share. These expected results assume an effective tax rate of 20% in the coming quarter.

    Conference Call

    Key Tronic will host a conference call to discuss its financial results at 2:00 PM Pacific (5:00 PM Eastern) today. A broadcast of the conference call will be available at www.keytronic.com under “Investor Relations” or by calling 888-394-8218 or +1-313-209-4906 (Access Code: 7268667). The Company will also reference accompanying slides that can be viewed with the webcast at www.keytronic.com under “Investor Relations”. A replay will be available at www.keytronic.com under “Investor Relations”.

    About Key Tronic

    Key Tronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. The Company provides its customers with full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information about Key Tronic visit: www.keytronic.com

    Forward-Looking Statements

    Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to those including such words as aims, anticipates, believes, continues, estimates, expects, hopes, intends, plans, predicts, projects, targets, will, or would, similar verbs, or nouns corresponding to such verbs, which may be forward looking. Forward-looking statements also include other passages that are relevant to expected future events, performances, and actions or that can only be fully evaluated by events that will occur in the future. Forward-looking statements in this release include, without limitation, the Company’s statements regarding its expectations with respect to financial conditions and results, including revenue and earnings, cost savings from headcount reduction and the Mexican Peso exchange rate, demand for certain products and the effectiveness of some of its programs, business from customers and programs, and impacts from operational streamlining and efficiencies. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements, including but not limited to: the future of the global economic environment and its impact on our customers and suppliers; the availability of components from the supply chain; the availability of a healthy workforce; the accuracy of suppliers’ and customers’ forecasts; development and success of customers’ programs and products; timing and effectiveness of ramping of new programs; success of new-product introductions; the risk of legal proceedings or governmental investigations relating to the previously reported financial statement restatements and related material weaknesses, the May 2024 cybersecurity incident and the subject of the internal investigation by the Company’s Audit Committee and related or other unrelated matters; acquisitions or divestitures of operations or facilities; technology advances; changes in pricing policies by the Company, its competitors, customers or suppliers; impact of new governmental legislation and regulation, including tax reform, tariffs and related activities, such trade negotiations and other risks; and other factors, risks, and uncertainties detailed from time to time in the Company’s SEC filings.

    Non-GAAP Financial Measures

    To supplement our consolidated financial statements, which are prepared in accordance with generally accepted accounting principles in the United States (GAAP), we use certain non-GAAP financial measures, adjusted net income and adjusted net income per share, diluted. We provide these non-GAAP financial measures because we believe they provide greater transparency related to our core operations and represent supplemental information used by management in its financial and operational decision making. We exclude (or include) certain items in our non-GAAP financial measures as we believe the net result is a measure of our core business. We believe this facilitates operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain income and expense items that would not otherwise be apparent on a GAAP basis. Non-GAAP performance measures should be considered in addition to, and not as a substitute for, results prepared in accordance with GAAP. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Our non-GAAP financial measures may be different from those reported by other companies. See the table below entitled “Reconciliation of GAAP to non-GAAP measures” for reconciliations of adjusted net income to the most directly comparable GAAP measure, which is GAAP net income, and the computation of adjusted net income per share, diluted.

     
    KEY TRONIC CORPORATION AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except per share amounts)
    (Unaudited)
     
      Three Months Ended
      September 28, 2024   September 30, 2023
    Net sales $ 131,558     $ 150,112  
    Cost of sales   118,255       139,250  
    Gross profit   13,303       10,862  
    Research, development and engineering expenses   2,289       2,241  
    Selling, general and administrative expenses   6,570       5,784  
    Gain on insurance proceeds, net of losses   —       (431 )
    Total operating expenses   8,859       7,594  
    Operating income   4,444       3,268  
    Interest expense, net   3,263       3,011  
    Income before income taxes   1,181       257  
    Income tax (benefit) provision   57       (78 )
    Net income $ 1,124     $ 335  
    Net income per share — Basic $ 0.10     $ 0.03  
    Weighted average shares outstanding — Basic   10,762       10,762  
    Net income per share — Diluted $ 0.10     $ 0.03  
    Weighted average shares outstanding — Diluted   10,762       11,003  
     
    KEY TRONIC CORPORATION AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
     
        September 28, 2024   June 29, 2024
    ASSETS        
    Current assets:        
    Cash and cash equivalents   $ 6,555     $ 4,752  
    Trade receivables, net of credit losses of $3,129 and $2,918     133,984       132,559  
    Contract assets     23,626       21,250  
    Inventories, net     95,845       105,099  
    Other, net of credit losses of $1,642 and $1,679     28,273       24,739  
    Total current assets     288,283       288,399  
    Property, plant and equipment, net     27,910       28,806  
    Operating lease right-of-use assets, net     14,612       15,416  
    Other assets:        
    Deferred income tax asset     18,394       17,376  
    Other     6,735       5,346  
    Total other assets     25,129       22,722  
    Total assets   $ 355,934     $ 355,343  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    Current liabilities:        
    Accounts payable   $ 83,768     $ 79,394  
    Accrued compensation and vacation     6,870       6,510  
    Current portion of long-term debt     3,057       3,123  
    Other     18,450       15,149  
    Total current liabilities     112,145       104,176  
    Long-term liabilities:        
    Long-term debt, net     109,675       116,383  
    Operating lease liabilities     9,573       10,312  
    Deferred income tax liability     74       263  
    Other long-term obligations     124       219  
    Total long-term liabilities     119,446       127,177  
    Total liabilities     231,591       231,353  
    Shareholders’ equity:        
    Common stock, no par value—shares authorized 25,000; issued and outstanding 10,762 and 10,762 shares, respectively     47,351       47,284  
    Retained earnings     78,045       76,921  
    Accumulated other comprehensive income (loss)     (1,053 )     (215 )
    Total shareholders’ equity     124,343       123,990  
    Total liabilities and shareholders’ equity   $ 355,934     $ 355,343  
             
    KEY TRONIC CORPORATION AND SUBSIDIARIES
    Reconciliation of GAAP to non-GAAP measures
    (In thousands, except per share amounts)
    (Unaudited)
     
      Three Months Ended
      September 28, 2024   September 30, 2023
    GAAP net income $ 1,124     $ 335  
    Gain on insurance proceeds (net of losses)   —       (431 )
    Stock-based compensation expense   67       59  
    Income tax effect of non-GAAP adjustments (1)   (13 )     74  
    Adjusted net income: $ 1,178     $ 37  
           
    Adjusted net income per share — non-GAAP Diluted $ 0.11     $ 0.00  
    Weighted average shares outstanding — Diluted   10,762       11,003  
           
    (1) Income tax effects are calculated using an effective tax rate of 20%, which approximates the statutory GAAP tax rate for the presented periods.
             
    CONTACTS:   Tony Voorhees   Michael Newman
        Chief Financial Officer   Investor Relations
        Key Tronic Corporation   StreetConnect
        (509)-927-5345   (206) 729-3625

    The MIL Network –

  • MIL-OSI USA: Beyond the Console: Kenneth Attocknie’s Mission to Bridge Cultures at NASA

    Source: NASA

    From the Mission Control Center to community celebrations, Kenneth Attocknie blends safety expertise with a commitment to cultural connection. 
    For the past 25 years at NASA, Attocknie has dedicated his career to safeguarding the International Space Station and supporting real-time mission operations at Johnson Space Center in Houston.  
    As a principal safety engineer in the Safety and Mission Assurance Directorate, Attocknie ensures the safe operation of the space station’s environmental control and life support system. This system is vital for maintaining the life-sustaining environment aboard the orbiting laboratory— a critical foundation for similar systems planned for future Artemis missions. 

    As a contractor with SAIC, Attocknie has served as a flight controller, astronaut crew office engineer, and astronaut crew instructor. He joined NASA just as the first two modules of the space station, Zarya and Unity, connected in space on Dec. 6, 1998.  
    “I’ve supported the space station ever since and have been blessed to witness the remarkable progression of this amazing orbiting experiment,” he said. “I feel I have found a way to contribute positively to NASA’s mission: to improve life for all people on our planet.” 
    He also contributed to closing out the Space Shuttle Program and worked in system safety for the Constellation program. 
    As part of SAIC’s Employee Resource Group, Attocknie supports the Mathematics, Engineering, Science Achievement project, which uses project-based learning to inspire high school students from underrepresented communities to pursue careers in science, technology, engineering, and mathematics. He continues to advocate for Native Americans as a member of the American Indian Science and Engineering Society, helping NASA engage with college students across Indian Country. 

    Attocknie strives to contribute to a space exploration legacy that uplifts and unites cultures, paving the way for a future in human spaceflight that honors and empowers all. 
    A member of the Comanche and Caddo tribes of Oklahoma, he has made it his mission to create a cross-cultural exchange between NASA and Native communities to provide opportunities for Natives to visit Johnson.  
    One of his proudest moments was organizing a Native American Heritage Month event with NASA’s Equal Opportunity and Diversity Office. The celebration brought together Native dancers and singers from Oklahoma and Texas to honor their heritage at Johnson.  
    “Seeing the Johnson community rally around this event was amazing,” said Attocknie. “It was a profound experience to share and celebrate my culture here.” 

    Overcoming challenges and setbacks has been part of his NASA experience as well. “Finding and achieving my purpose is always an ongoing journey,” he said. “Accepting what might seem like a regression is the first step of growth. There’s always a lesson to be found, and every disappointment can fuel a new ambition and direction. Ride the waves, be humble, learn lessons, and above all, always keep going.” 
    He believes that NASA’s mission is deeply connected to diversity and inclusion. “You can’t truly benefit humankind if you don’t represent humankind,” said Attocknie. “The status quo may feel comfortable, but it leads to stagnation and is the antithesis of innovation.” 

    Attocknie’s hope for the Artemis Generation? “A healthier planet, society, and the desire to pass on lessons of stewardship for our environment. All life is precious.” 
    He sees NASA as a gateway to a brighter future: “NASA can truly harness its influence to be an example for our planet, not only in the new heavenly bodies we journey to but also in the new human spirits we touch.” 

    MIL OSI USA News –

  • MIL-OSI Security: Albuquerque FBI Division Announces It’s 2025 Citizen’s Academy

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    Have you ever wondered how the FBI solves a case? Want to hear about the work agents are doing across New Mexico? Special Agent in Charge Raul Bujanda welcomes business, civic, and faith-based community leaders to apply for FBI Albuquerque’s Citizens Academy program, where we will give participants a first-hand look into life at the FBI.

    “The FBI’s Citizens Academy provides an incredible opportunity for members of the community to better understand the work of the FBI and partner with us in keeping New Mexico citizens safe,” said Raul Bujanda, special agent in charge for the FBI Albuquerque Division. “The FBI Citizens Academy program is a unique opportunity for us to share our work one-on-one with community leaders of all backgrounds, and for them to provide us with feedback. Through frank discussion and information sharing, we can improve relationships and advance our mission to protect all Americans.”

    FBI Albuquerque is now accepting nominations for the 2025 FBI Citizens Academy. Over the course of 8 sessions this spring, select business, religious, civic, and community leaders will be given an opportunity to go behind the scenes of local FBI operations and experience case studies and demonstrations led by Special Agents, Intelligence Analysts, and FBI Professional Staff. Topics will include how the FBI works to combat violent crime, human trafficking, cybercrime, counterintelligence, Indian Country, terrorism, and how teams train in forensics, firearms, evidence recovery, and more.

    • When: Wednesday evenings February 19th, 2025 – April 23rd, 2025
    • Where: FBI Albuquerque 4200 Luecking Park Ave NE, Albuquerque New Mexico 87107

    How to Apply: The FBI Citizens Academy is open to anyone with an interest in learning how the FBI works to protect and serve the community. Candidates can be nominated by a program alumnus, former or current FBI employee, or self-nominated. The nomination form must be completed in full and returned by the close of business on Friday, December 20, 2024. If selected, there is no cost to attend. Questions regarding the program or application process can be directed to aq.outreach@fbi.gov

    Requirements:

    • Business, religious, civic, or community leader
    • Be at least 21 years of age
    • No felony or serious misdemeanor convictions
    • Cannot be under investigation as a subject in a criminal case
    • Must live or work in New Mexico
    • Must agree to and pass a limited background check
    • Must be able to attend classes in person

    MIL Security OSI –

  • MIL-OSI: Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2025

    Source: GlobeNewswire (MIL-OSI)

    • Net sales of $1.164 billion, down 6.2% sequentially and down 48.4% from the year ago quarter. The midpoint of our guidance provided on August 1, 2024 was net sales of $1.150 billion.
    • Revenue, gross profit and non-GAAP gross profit were positively impacted by a $13.3 million legal settlement. This settlement also positively impacted GAAP and non-GAAP EPS by $0.02 per diluted share.
    • On a GAAP basis: gross profit of 57.4%; operating income of $146.6 million and 12.6% of net sales; net income of $78.4 million; and EPS of $0.14 per diluted share. Our guidance provided on August 1, 2024 was for GAAP EPS of $0.10 to $0.14 per diluted share.
    • On a Non-GAAP basis: gross profit of 59.5%; operating income of $340.8 million and 29.3% of net sales; net income of $250.2 million; and EPS of $0.46 per diluted share. Our guidance provided on August 1, 2024 was for Non-GAAP EPS of $0.40 to $0.46 per diluted share.
    • Returned approximately $261.0 million to stockholders in the September quarter through dividends of $243.7 million and the repurchase of $17.3 million, or 0.2 million shares of our common stock, at an average price of $76.86 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased $2.444 billion, or 31.4 million shares, over the last twelve quarters.
    • Record quarterly dividend declared today for the December quarter of 45.5 cents per share, an increase of 3.6% from the year ago quarter.

    CHANDLER, Ariz., Nov. 05, 2024 (GLOBE NEWSWIRE) — (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today reported results for the three months ended September 30, 2024, as summarized in the table below.

      Three Months Ended September 30, 2024(1)
    Net sales $1,163.8      
      GAAP % Non-GAAP(2) %
    Gross profit $668.5 57.4% $692.9 59.5%
    Operating income $146.6 12.6% $340.8 29.3%
    Other expense $(55.1)   $(53.3)  
    Income tax provision $13.1   $37.3  
    Net income $78.4 6.7% $250.2 21.5%
    Net income per diluted share $0.14   $0.46  
             

    (1) In millions, except per share amounts and percentages of net sales.
    (2) See the “Use of Non-GAAP Financial Measures” section of this release.

    Net sales for the second quarter of fiscal 2025 were $1.164 billion, down 48.4% from net sales of $2.254 billion in the prior year’s second fiscal quarter.

    GAAP net income for the second quarter of fiscal 2025 was $78.4 million, or $0.14 per diluted share, down from GAAP net income of $666.6 million, or $1.21 per diluted share, in the prior year’s second fiscal quarter. For the second quarters of fiscal 2025 and fiscal 2024, GAAP net income was adversely impacted by amortization of acquired intangible assets associated with our previous acquisitions.

    Non-GAAP net income for the second quarter of fiscal 2025 was $250.2 million, or $0.46 per diluted share, down from non-GAAP net income of $889.3 million, or $1.62 per diluted share, in the prior year’s second fiscal quarter. For the second quarters of fiscal 2025 and fiscal 2024, our non-GAAP results exclude the effect of share-based compensation, cybersecurity incident expenses, other manufacturing adjustments, expenses related to our acquisition activities (including intangible asset amortization, severance, and other restructuring costs, and legal and other general and administrative expenses associated with acquisitions including legal fees and expenses for litigation and investigations related to our Microsemi acquisition), professional services associated with certain legal matters, and losses on the settlement of debt. For the second quarters of fiscal 2025 and fiscal 2024, our non-GAAP income tax expense is presented based on projected cash taxes for the applicable fiscal year, excluding transition tax payments under the Tax Cuts and Jobs Act. A reconciliation of our non-GAAP and GAAP results is included in this press release.

    Microchip announced today that its Board of Directors declared a record quarterly cash dividend on its common stock of 45.5 cents per share, up 3.6% from the year ago quarter. The quarterly dividend is payable on December 6, 2024 to stockholders of record on November 22, 2024.

    “Our September quarter results were consistent with our guidance, as we continued to navigate through an inventory correction that’s occurring in the midst of macro weakness for many manufacturing businesses, accentuated by heightened weakness in our European business which is concentrated with Industrial and Automotive customers,” said Ganesh Moorthy, President and Chief Executive Officer. “The ‘green shoots’ we saw in recent quarters have progressed unevenly with essentially flat sequential bookings, normalized cancellation rates and much higher expedite requests, which we believe are all positive signs for a potential bottom formation despite limited visibility.”

    Eric Bjornholt, Microchip’s Chief Financial Officer, said, “Our September quarter results reflect continued customer destocking efforts and sluggish end-market demand. We are maintaining strong cost discipline and balance sheet management while taking actions to ensure operational readiness for the anticipated market recovery.”

    Rich Simoncic, Microchip’s Chief Operating Officer, said, “Our Total System Solutions approach is driving strong execution and seeing growing adoption in AI-accelerated servers in the data center markets. Our PCIe switches, SSD controllers, CXL solutions, and associated power and timing products are key to continuing to strengthen our data center portfolio. With our expanding capabilities, we believe we are well-positioned to capitalize on opportunities in this growth market.”

    Mr. Moorthy concluded, “For the December quarter, we expect net sales between $1.025 billion and $1.095 billion. While substantial inventory destocking has occurred, we continue to face macro uncertainties in what is historically our seasonally weakest quarter. Our design-in momentum continues to remain strong, driven by our Total System Solutions strategy and key market megatrends.”

    Third Quarter Fiscal Year 2025 Outlook:

    The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially.

      Microchip Consolidated Guidance
    Net Sales $1.025 to $1.095 billion    
      GAAP Non-GAAP Adjustments(1) Non-GAAP(1)
    Gross Profit 56.2% to 58.1% $8.4 to $9.4 million 57.0% to 59.0%
    Operating Expenses(2) 49.1% to 51.4% $170.0 to $174.0 million 33.2% to 34.8%
    Operating Income 4.8% to 9.1% $178.4 to $183.4 million 22.2% to 25.8%
    Other Expense, net $69.3 to $69.7 million ($0.2) to $0.2 million $69.5 million
    Income Tax Provision $1.0 to $13.0 million(3) $12.6 to $21.1 million $22.1 to $25.6 million(4)
    Net Income (loss) ($21.1) to $16.5 million $157.0 to $170.9 million $135.9 to $187.4 million
    Diluted Common Shares Outstanding Approximately 537.3 to 543.0 million shares   Approximately 543.0 million shares
    Earnings (Loss) per Diluted Share ($0.04) to $0.03 $0.29 to $0.32 $0.25 to $0.35
           
    (1)  See the “Use of Non-GAAP Financial Measures” section of this release for information regarding our non-GAAP guidance.
    (2) We are not able to estimate the amount of certain Special Charges and Other, net that may be incurred during the quarter ending December 31, 2024. Therefore, our estimate of GAAP operating expenses excludes certain amounts that may be recognized as Special Charges and Other, net in the quarter ending December 31, 2024.
    (3) The forecast for GAAP tax expense excludes any unexpected tax events that may occur during the quarter, as these amounts cannot be forecasted.
    (4) Represents the expected cash tax rate for fiscal 2025, excluding any transition tax payments associated with the Tax Cuts and Jobs Act.
       

    Capital expenditures for the quarter ending December 31, 2024 are expected to be about $20 million. Capital expenditures for all of fiscal 2025 are expected to be about $150 million. We are selectively adding capital equipment to maintain, grow and operate our internal manufacturing capabilities to support the expected growth of our business.

    Under the GAAP revenue recognition standard, we are required to recognize revenue when control of the product changes from us to a customer or distributor. We focus our sales and marketing efforts on creating demand for our products in the end markets we serve and not on moving inventory into our distribution network. We also manage our manufacturing and supply chain operations, including our distributor relationships, towards the goal of having our products available at the time and location the end customer desires.

    Use of Non-GAAP Financial Measures:  Our non-GAAP adjustments, where applicable, include the effect of share-based compensation, cybersecurity incident expenses, other manufacturing adjustments, expenses related to our acquisition activities (including intangible asset amortization, severance, and other restructuring costs, and legal and other general and administrative expenses associated with acquisitions including legal fees and expenses for litigation and investigations related to our Microsemi acquisition), professional services associated with certain legal matters, and losses on the settlement of debt. For the second quarters of fiscal 2025 and fiscal 2024, our non-GAAP income tax expense is presented based on projected cash taxes for the fiscal year, excluding transition tax payments under the Tax Cuts and Jobs Act.

    We are required to estimate the cost of certain forms of share-based compensation, including employee stock options, restricted stock units, and our employee stock purchase plan, and to record a commensurate expense in our income statement. Share-based compensation expense is a non-cash expense that varies in amount from period to period and is affected by the price of our stock at the date of grant. The price of our stock is affected by market forces that are difficult to predict and are not within the control of management. Our other non-GAAP adjustments are either non-cash expenses, unusual or infrequent items, or other expenses related to transactions. Management excludes all of these items from its internal operating forecasts and models.

    We are using non-GAAP operating expenses in dollars, including non-GAAP research and development expenses and non-GAAP selling, general and administrative expenses, non-GAAP other expense, net, and non-GAAP income tax rate, which exclude the items noted above, as applicable, to permit additional analysis of our performance.

    Management believes these non-GAAP measures are useful to investors because they enhance the understanding of our historical financial performance and comparability between periods. Many of our investors have requested that we disclose this non-GAAP information because they believe it is useful in understanding our performance as it excludes non-cash and other charges that many investors feel may obscure our underlying operating results. Management uses non-GAAP measures to manage and assess the profitability of our business and for compensation purposes. We also use our non-GAAP results when developing and monitoring our budgets and spending. Our determination of these non-GAAP measures might not be the same as similarly titled measures used by other companies, and it should not be construed as a substitute for amounts determined in accordance with GAAP. There are limitations associated with using these non-GAAP measures, including that they exclude financial information that some may consider important in evaluating our performance. Management compensates for this by presenting information on both a GAAP and non-GAAP basis for investors and providing reconciliations of the GAAP and non-GAAP results.

    Generally, gross profit fluctuates over time, driven primarily by the mix of products sold and licensing revenue; variances in manufacturing yields; fixed cost absorption; wafer fab loading levels; costs of wafers from foundries; inventory reserves; pricing pressures in our non-proprietary product lines; and competitive and economic conditions. Operating expenses fluctuate over time, primarily due to net sales and profit levels.

    Diluted Common Shares Outstanding can vary for, among other things, the trading price of our common stock, the exercise of options or vesting of restricted stock units, the potential for incremental dilutive shares from our convertible debentures (additional information regarding our share count is available in the investor relations section of our website under the heading “Supplemental Financial Information”), and repurchases or issuances of shares of our common stock. The diluted common shares outstanding presented in the guidance table above assumes an average Microchip stock price in the December 2024 quarter between $75 and $85 per share (however, we make no prediction as to what our actual share price will be for such period or any other period and we cannot estimate what our stock option exercise activity will be during the quarter).

    MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (in millions, except per share amounts; unaudited)
     
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Net sales $ 1,163.8     $ 2,254.3     $ 2,405.1     $ 4,542.9  
    Cost of sales   495.3       726.9       999.7       1,457.1  
    Gross profit   668.5       1,527.4       1,405.4       3,085.8  
                   
    Research and development   240.7       292.6       482.4       591.1  
    Selling, general and administrative   157.0       196.6       307.5       400.2  
    Amortization of acquired intangible assets   122.7       151.4       245.7       302.9  
    Special charges and other, net   1.5       1.8       4.1       3.5  
    Operating expenses   521.9       642.4       1,039.7       1,297.7  
                   
    Operating income   146.6       885.0       365.7       1,788.1  
                   
    Other expense, net   (55.1 )     (51.4 )     (112.4 )     (106.2 )
    Income before income taxes   91.5       833.6       253.3       1,681.9  
    Income tax provision   13.1       167.0       45.6       348.9  
    Net income $ 78.4     $ 666.6     $ 207.7     $ 1,333.0  
                   
    Basic net income per common share $ 0.15     $ 1.23     $ 0.39     $ 2.45  
    Diluted net income per common share $ 0.14     $ 1.21     $ 0.38     $ 2.42  
                   
    Basic common shares outstanding   536.7       543.1       536.7       544.1  
    Diluted common shares outstanding   542.0       549.2       542.4       550.3  
                                   
    MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in millions; unaudited)
     
    ASSETS
      September 30,   March 31,
      2024   2024
    Cash and short-term investments $ 286.1   $ 319.7
    Accounts receivable, net   1,044.3     1,143.7
    Inventories   1,339.6     1,316.0
    Other current assets   235.5     233.6
    Total current assets   2,905.5     3,013.0
           
    Property, plant and equipment, net   1,171.2     1,194.6
    Other assets   11,545.6     11,665.6
    Total assets $ 15,622.3   $ 15,873.2
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY
           
    Accounts payable and accrued liabilities $ 1,339.4   $ 1,520.0
    Current portion of long-term debt   1,946.3     999.4
    Total current liabilities   3,285.7     2,519.4
           
    Long-term debt   4,476.6     5,000.4
    Long-term income tax payable   590.4     649.2
    Long-term deferred tax liability   29.8     28.8
    Other long-term liabilities   963.9     1,017.6
           
    Stockholders’ equity   6,275.9     6,657.8
    Total liabilities and stockholders’ equity $ 15,622.3   $ 15,873.2
               
    MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES
    (in millions, except per share amounts and percentages; unaudited)
     
    RECONCILIATION OF GAAP GROSS PROFIT TO NON-GAAP GROSS PROFIT
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Gross profit, as reported $ 668.5     $ 1,527.4     $ 1,405.4     $ 3,085.8  
    Share-based compensation expense   4.3       7.4       10.9       14.2  
    Cybersecurity incident expenses   20.1       —       20.1       —  
    Non-GAAP gross profit $ 692.9     $ 1,534.8     $ 1,436.4     $ 3,100.0  
    GAAP gross profit percentage   57.4 %     67.8 %     58.4 %     67.9 %
    Non-GAAP gross profit percentage   59.5 %     68.1 %     59.7 %     68.2 %
                                   
    RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Research and development expenses, as reported $ 240.7     $ 292.6     $ 482.4     $ 591.1  
    Share-based compensation expense   (26.9 )     (23.7 )     (50.2 )     (46.6 )
    Other adjustments   —       (0.2 )     —       (0.4 )
    Non-GAAP research and development expenses $ 213.8     $ 268.7     $ 432.2     $ 544.1  
    GAAP research and development expenses as a percentage of net sales   20.7 %     13.0 %     20.1 %     13.0 %
    Non-GAAP research and development expenses as a percentage of net sales   18.4 %     11.9 %     18.0 %     12.0 %
                                   
    RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Selling, general and administrative expenses, as reported $ 157.0     $ 196.6     $ 307.5     $ 400.2  
    Share-based compensation expense   (15.1 )     (14.3 )     (29.2 )     (29.1 )
    Cybersecurity incident expenses   (1.3 )     —       (1.3 )     —  
    Other adjustments   (2.1 )     (0.6 )     (3.4 )     0.5  
    Professional services associated with certain legal matters   (0.2 )     (0.3 )     (0.7 )     (0.8 )
    Non-GAAP selling, general and administrative expenses $ 138.3     $ 181.4     $ 272.9     $ 370.8  
    GAAP selling, general and administrative expenses as a percentage of net sales   13.5 %     8.7 %     12.8 %     8.8 %
    Non-GAAP selling, general and administrative expenses as a percentage of net sales   11.9 %     8.0 %     11.3 %     8.2 %
                                   
    RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Operating expenses, as reported $ 521.9     $ 642.4     $ 1,039.7     $ 1,297.7  
    Share-based compensation expense   (42.0 )     (38.0 )     (79.4 )     (75.7 )
    Cybersecurity incident expenses   (1.3 )     —       (1.3 )     —  
    Other adjustments   (2.1 )     (0.8 )     (3.4 )     0.1  
    Professional services associated with certain legal matters   (0.2 )     (0.3 )     (0.7 )     (0.8 )
    Amortization of acquired intangible assets(1)   (122.7 )     (151.4 )     (245.7 )     (302.9 )
    Special charges and other, net   (1.5 )     (1.8 )     (4.1 )     (3.5 )
    Non-GAAP operating expenses $ 352.1     $ 450.1     $ 705.1     $ 914.9  
    GAAP operating expenses as a percentage of net sales   44.8 %     28.5 %     43.2 %     28.6 %
    Non-GAAP operating expenses as a percentage of net sales   30.3 %     20.0 %     29.3 %     20.1 %
                                   

    (1) Amortization of acquired intangible assets consists of core and developed technology and customer-related acquired intangible assets in connection with business combinations. Such charges are excluded for purposes of calculating certain non-GAAP measures.

    RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Operating income, as reported $ 146.6     $ 885.0     $ 365.7     $ 1,788.1  
    Share-based compensation expense   46.3       45.4       90.3       89.9  
    Cybersecurity incident expenses   21.4       —       21.4       —  
    Other adjustments   2.1       0.8       3.4       (0.1 )
    Professional services associated with certain legal matters   0.2       0.3       0.7       0.8  
    Amortization of acquired intangible assets(1)   122.7       151.4       245.7       302.9  
    Special charges and other, net   1.5       1.8       4.1       3.5  
    Non-GAAP operating income $ 340.8     $ 1,084.7     $ 731.3     $ 2,185.1  
    GAAP operating income as a percentage of net sales   12.6 %     39.3 %     15.2 %     39.4 %
    Non-GAAP operating income as a percentage of net sales   29.3 %     48.1 %     30.4 %     48.1 %
                                   

    (1) Amortization of acquired intangible assets consists of core and developed technology and customer-related acquired intangible assets in connection with business combinations. Such charges are excluded for purposes of calculating certain non-GAAP measures. The use of acquired intangible assets contributed to our revenues earned during the periods presented.

    RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Other expense, net, as reported $ (55.1 )   $ (51.4 )   $ (112.4 )   $ (106.2 )
    Loss on settlement of debt   —       3.1       —       12.2  
    Loss on available-for-sale investments   1.8       —       1.8       —  
    Non-GAAP other expense, net $ (53.3 )   $ (48.3 )   $ (110.6 )   $ (94.0 )
    GAAP other expense, net, as a percentage of net sales (4.7) %   (2.3) %   (4.7) %   (2.3) %
    Non-GAAP other expense, net, as a percentage of net sales (4.6) %   (2.1) %   (4.6) %   (2.1) %
                   
    RECONCILIATION OF GAAP INCOME TAX PROVISION TO NON-GAAP INCOME TAX PROVISION
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Income tax provision as reported $ 13.1     $ 167.0     $ 45.6     $ 348.9  
    Income tax rate, as reported   14.3 %     20.0 %     18.0 %     20.7 %
    Other non-GAAP tax adjustment   24.2       (19.9 )     35.0       (52.4 )
    Non-GAAP income tax provision $ 37.3     $ 147.1     $ 80.6     $ 296.5  
    Non-GAAP income tax rate   13.0 %     14.2 %     13.0 %     14.2 %
                                   
    RECONCILIATION OF GAAP NET INCOME AND GAAP DILUTED NET INCOME PER COMMON SHARE TO NON-GAAP NET INCOME AND NON-GAAP DILUTED NET INCOME PER COMMON SHARE
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    Net income, as reported $ 78.4     $ 666.6     $ 207.7     $ 1,333.0  
    Share-based compensation expense   46.3       45.4       90.3       89.9  
    Cybersecurity incident expenses   21.4       —       21.4       —  
    Other adjustments   2.1       0.8       3.4       (0.1 )
    Professional services associated with certain legal matters   0.2       0.3       0.7       0.8  
    Amortization of acquired intangible assets   122.7       151.4       245.7       302.9  
    Special charges and other, net   1.5       1.8       4.1       3.5  
    Loss on settlement of debt   —       3.1       —       12.2  
    Loss on available-for-sale investments   1.8       —       1.8       —  
    Other non-GAAP tax adjustment   (24.2 )     19.9       (35.0 )     52.4  
    Non-GAAP net income $ 250.2     $ 889.3     $ 540.1     $ 1,794.6  
    GAAP net income as a percentage of net sales   6.7 %     29.6 %     8.6 %     29.3 %
    Non-GAAP net income as a percentage of net sales   21.5 %     39.4 %     22.5 %     39.5 %
    Diluted net income per common share, as reported $ 0.14     $ 1.21     $ 0.38     $ 2.42  
    Non-GAAP diluted net income per common share $ 0.46     $ 1.62     $ 1.00     $ 3.26  
    Diluted common shares outstanding, as reported   542.0       549.2       542.4       550.3  
    Diluted common shares outstanding non-GAAP   542.0       549.2       542.4       550.3  
                                   
    RECONCILIATION OF GAAP CASH FLOW FROM OPERATIONS TO FREE CASH FLOW
      Three Months Ended September 30,   Six Months Ended September 30,
      2024   2023   2024   2023
    GAAP cash flow from operations, as reported $ 43.6     $ 616.2     $ 420.7     $ 1,609.4  
    Capital expenditures   (20.8 )     (74.4 )     (93.7 )     (185.5 )
    Free cash flow $ 22.8     $ 541.8     $ 327.0     $ 1,423.9  
    GAAP cash flow from operations as a percentage of net sales   3.7 %     27.3 %     17.5 %     35.4 %
    Free cash flow as a percentage of net sales   2.0 %     24.0 %     13.6 %     31.3 %
                                   

    Microchip will host a conference call today, November 5, 2024 at 5:00 p.m. (Eastern Time) to discuss this release. This call will be simulcast over the Internet at www.microchip.com. The webcast will be available for replay until November 26, 2024.

    A telephonic replay of the conference call will be available at approximately 8:00 p.m. (Eastern Time) on November 5, 2024 and will remain available until 5:00 p.m. (Eastern Time) on November 26, 2024. Interested parties may listen to the replay by dialing 201-612-7415/877-660-6853 and entering access code 13747161.

    Cautionary Statement:

    The statements in this release relating to continuing to navigate through an inventory correction, macro weakness for many manufacturing businesses, heightened weakness in our European business, that the green shoots we saw in recent quarters have progressed unevenly, our belief that these are all positive signs for a potential bottom formation despite limited visibility, that we are maintaining strong cost discipline and balance sheet management while taking actions to ensure operational readiness for the anticipated market recovery, that our Total System Solutions approach is driving strong execution and seeing growing adoption in AI-accelerated servers in the data center markets, that our PCIe switches, SSD controllers, CXL solutions, and associated power and timing products are key to continuing to strengthen our data center portfolio, that we believe we are well-positioned to capitalize on opportunities in this growth market, that for the December quarter we expect net sales between $1.025 billion and $1.095 billion, that we continue to face macro uncertainties in what is historically our seasonally weakest quarter, that our design-in momentum continues to remain strong, driven by our Total System Solutions strategy and key market megatrends, our third quarter fiscal 2025 guidance for net sales and GAAP and non-GAAP gross profit, operating expenses, operating income, other expense, net, income tax provision, net income, diluted common shares outstanding, earnings per diluted share, capital expenditures for the December 2024 quarter and for all of fiscal 2025, selectively adding capital equipment to maintain, grow and operate our internal manufacturing capabilities to support the expected growth of our business, our belief that non-GAAP measures are useful to investors and our assumed average stock price in the December 2024 quarter are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause our actual results to differ materially, including, but not limited to: any continued uncertainty, fluctuations or weakness in the U.S. and world economies (including China and Europe) due to changes in interest rates, high inflation or the impact of the COVID-19 pandemic (including lock-downs in China), actions taken or which may be taken by the Biden administration or the U.S. Congress, monetary policy, political, geopolitical, trade or other issues in the U.S. or internationally (including the military conflicts in Ukraine-Russia and the Middle East and the outcome of the U.S. elections in November), further changes in demand or market acceptance of our products and the products of our customers and our ability to respond to any increases or decreases in market demand or customer requests to reschedule or cancel orders; the mix of inventory we hold, our ability to satisfy any short-term orders from our inventory and our ability to effectively manage our inventory levels; the impact that the CHIPS Act will have on increasing manufacturing capacity in our industry by providing incentives for us, our competitors and foundries to build new wafer manufacturing facilities or expand existing facilities; the amount and timing of any incentives we may receive under the CHIPS Act, the impact of current and future changes in U.S. corporate tax laws (including the Inflation Reduction Act of 2022 and the Tax Cuts and Jobs Act of 2017), foreign currency effects on our business; changes in utilization of our manufacturing capacity and our ability to effectively manage our production levels to meet any increases or decreases in market demand or any customer requests to reschedule or cancel orders; the impact of inflation on our business; competitive developments including pricing pressures; the level of orders that are received and can be shipped in a quarter; our ability to realize the expected benefits of our long-term supply assurance program; changes or fluctuations in customer order patterns and seasonality; our ability to effectively manage our supply of wafers from third party wafer foundries to meet any decreases or increases in our needs and the cost of such wafers, our ability to obtain additional capacity from our suppliers to increase production to meet any future increases in market demand; our ability to successfully integrate the operations and employees, retain key employees and customers and otherwise realize the expected synergies and benefits of our acquisitions; the impact of any future significant acquisitions or strategic transactions we may make; the costs and outcome of any current or future litigation or other matters involving our acquisitions (including the acquired business, intellectual property, customers, or other issues); the costs and outcome of any current or future tax audit or investigation regarding our business or our acquired businesses; fluctuations in our stock price and trading volume which could impact the number of shares we acquire under our share repurchase program and the timing of such repurchases; disruptions in our business or the businesses of our customers or suppliers due to natural disasters (including any floods in Thailand), terrorist activity, armed conflict, war, worldwide oil prices and supply, public health concerns or disruptions in the transportation system; and general economic, industry or political conditions in the United States or internationally.

    For a detailed discussion of these and other risk factors, please refer to Microchip’s filings on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at Microchip’s website (www.microchip.com) or the SEC’s website (www.sec.gov) or from commercial document retrieval services.

    Stockholders of Microchip are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date such statements are made. Microchip does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this November 5, 2024 press release, or to reflect the occurrence of unanticipated events.

    About Microchip:

    Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. Our solutions serve approximately 116,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

    Note: The Microchip name and logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

    INVESTOR RELATIONS CONTACT:
    Sajid Daudi — Head of Investor Relations….. (480) 792-7385

    The MIL Network –

  • MIL-OSI: Enstar Acquires Bermuda Reinsurer in its Second Property ILS Transaction

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, Bermuda, Nov. 05, 2024 (GLOBE NEWSWIRE) — Enstar Group Limited (Nasdaq: ESGR) today announced that its wholly-owned subsidiary, Cavello Bay Reinsurance Limited (“Cavello Bay”), has acquired a Bermuda-domiciled Class 3B insurer and segregated accounts company (the “Reinsurer”).

    The Reinsurer underwrote property reinsurance business between 2020 and 2023 on behalf of third-party investors, assuming the risk through retrocession agreements with a fronting carrier. The Reinsurer had $66 million of shareholders’ equity at the end of July 2024.

    The Reinsurer will be merged into Cavello Bay and a consolidated and amended retrocession agreement between the fronting carrier and Cavello Bay will become effective.

    Dominic Silvester, Chief Executive Officer of Enstar, said: “This acquisition is our second transaction in the property ILS space in recent months, which we see as a growth market for legacy solutions. The deal structure eliminates collateral requirements, demonstrating the benefit of Cavello Bay’s strong balance sheet and financial strength rating.”

    About Enstar 

    Enstar is a NASDAQ-listed leading global insurance group that offers capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired over 120 companies and portfolios since its formation. For further information about Enstar, see www.enstargroup.com. 

    Cautionary Statement  

    This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘aim’, ‘ambition’, ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future events or performance. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Important risk factors regarding Enstar can be found under the heading “Risk Factors” in Enstar’s Form 10-K for the year ended December 31, 2023 and Enstar’s Form 10-Q for the quarter ended June 30, 2024 and are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law.

    Contact:

    For Enstar:
    For Investors: Matthew Kirk (investor.relations@enstargroup.com)
    For Media: Jenna Kerr (communications@enstargroup.com)

    The MIL Network –

  • MIL-OSI: ARB IOT Group Limited Signs a Memorandum of Understanding (MOU) To Accelerate Global AI Revolution with Advanced Server Solutions

    Source: GlobeNewswire (MIL-OSI)

    Kuala Lumpur, Malaysia, Nov. 05, 2024 (GLOBE NEWSWIRE) — – ARB IOT Group Limited (“AIGL” or the “Company”) (NASDAQ: ARBB) announced the signing of a Memorandum of Understanding (the “MOU”) between its indirect wholly owned subsidiary, ARBIOT Sdn Bhd, with ASUSTeK Computer Inc. (“ASUS”) and ServerSphere to collaborate on global artificial intelligence (AI) server solutions. This strategic partnership aims to combine each party’s expertise and resources to provide comprehensive AI server solutions, accelerating the global AI revolution.

    ASUS is a Taiwan-based multinational computer hardware and consumer electronics company established in 1989. ASUS is considered the world’s No. 1 motherboard and gaming brand, as well as a top-three consumer notebook vendor.

    ServerSphere is a Taiwanese AI server hardware company partnered with Phison Electronics Corporation, a leading Taiwanese company specializing in controllers for NAND flash memory chips.  This partnership enhances ServerSphere’s AI servers with advanced storage technologies, allowing it to effectively meet the evolving demands of the global market.

    The MOU signifies the establishment of a strategic global partnership focusing on developing and promoting AI server solutions worldwide. The cooperation includes hardware supply, software development, assembly, and sales, aiming to jointly expand the global AI market and enhance market competitiveness.

    AIGL’s turnkey AI server solutions arising from this partnership are designed to be user-friendly and accessible, allowing users worldwide to manage, configure, and monitor applications and resources with minimal technical knowledge. AIGL’s solutions offers cost-effective options to customers by optimising resources, reducing operational costs, and improving efficiency. With robust privacy and data protection features, AIGL’s AI servers ensure customer data security, making application development more affordable and secure for businesses globally by offering efficient, scalable, and cost-saving tools.

    The AI servers offer a balanced, cost-effective and flexible solution ideal for data centres, offering an alternative to the H100/200 solutions currently available in the market. By addressing the evolving needs of the global AI data centre market, this new strategic alliance aims to accelerate the adoption of AI technologies globally.

    The MOU not only emphasizes cooperation through the combination of expertise and resources to develop AI server solutions but also seeks to generate further synergies and new business opportunities. The Company will be responsible for assembling, testing, localization, and customization of the AI servers. Additionally, the Company will handle global market sales, promotion, and after-sales support services of the final product globally, and will propose improvement based on market demands to assist in the enhancement and evolution of these AI server products.

    This collaboration marks a significant milestone in the Company’s growth, leveraging combined expertise in AI computing technology and promoting sustainable advanced AI server solutions to accelerate the global AI revolution.

    About ARB IOT Group Limited

    ARB IOT Group Limited is a provider of complete solutions to clients for the integration of Internet of Things (“IoT”) systems and devices from designing to project deployment. We offer a wide range of IoT systems as well as provide customers a substantial range of services such as system integration and system support service. We deliver holistic solutions with full turnkey deployment from designing, installation, testing, pre-commissioning, and commissioning of various IoT systems and devices as well as integration of automated systems, including installation of wire and wireless and mechatronic works.

    Safe Harbor Statement

    This press release contains “forward-looking statements” that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including, but not limited to, those that we discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

    For further information, please contact:

    ARB IOT Group Limited
    Investor Relations Department
    Email: contact@arbiotgroup.com

    The MIL Network –

  • MIL-OSI: Enstar Group Limited Announces Quarterly Preference Share Dividends

    Source: GlobeNewswire (MIL-OSI)

    HAMILTON, Bermuda, Nov. 05, 2024 (GLOBE NEWSWIRE) — Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it will pay cash dividends on its Series D and Series E preference shares.

    Dividends on Enstar’s Series D 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series D Preference Share) will be payable on December 1, 2024 to shareholders of record on November 15, 2024.

    Dividends on Enstar’s Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will be payable on December 1, 2024 to shareholders of record on November 15, 2024.

    About Enstar

    Enstar is a NASDAQ-listed leading global insurance group that offers capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired over 120 companies and portfolios since its formation. For further information about Enstar, see www.enstargroup.com.

    Cautionary Statement

    This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Important risk factors regarding Enstar can be found under the heading “Risk Factors” in our Form 10-K for the year ended December 31, 2023 and in our Quarterly Report on Form 10-Q for the interim period ended June 30, 2024 and are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law.

    Contact: Enstar Communications
    Telephone: +1 (441) 292-3645

    The MIL Network –

  • MIL-OSI Australia: $8 million mobile coverage boost for regional Victoria

    Source: Australian Ministers 1

    The Albanese Government has announced $8 million in funding to deliver better mobile coverage along highways and major roads for people who live, work and holiday in regional Victoria.
     
    The funding – set to be delivered as part of the Albanese Government’s $50 million Regional Roads Australia Mobile Program (RRAMP) – is supporting pilot programs across Australia.
     
    In Victoria, the pilot projects cover parts of the Great Alpine Road, Great Ocean Road and Monaro Highway, with a focus on boosting resilience and connectivity during emergencies and natural disasters.
     
    The Albanese Government is providing $8 million with the Victorian Government to design and deliver the pilot through a competitive grants program.
     
    Once delivered, the pilot programs will improve road safety, strengthen economic growth, improve social connectivity, and support regional development – including throughout Victoria.
     
    Outcomes from the RRAMP will inform the design of a national program to be announced in 2025.

    Applications for the Victorian pilot programs are planned to open in 2025.
     
    Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP:
     
    “The Albanese Government is narrowing the digital divide in rural and regional Australia.
     
    “This important pilot program is just another way we’re delivering significant connectivity and safety improvements for communities across Victoria, and nationally, as the remainder of the program is rolled out.
     
    “The RRAMP pilot programs are being delivered under the Albanese Government’s $1.1 billion Better Connectivity Plan for Regional and Rural Australia, which is funding initiatives to improve connectivity for regional and rural communities right across the country.”
     
    Quotes attributable to Libby Coker MP, Federal Member for Corangamite:
     
    “The Albanese Government understands access to mobile coverage across the electorate of Corangamite is essential.

    “Boosting coverage along the Great Ocean Road will empower locals and visitors to stay safe and connected.

    “This program compliments communication upgrades across Corangamite, demonstrating Labor’s commitment to regional connectivity and development.” 
     
    Quote attributable to Victorian Minister for Government Services, Gabrielle Williams: 
     
    “The Allan Labor Government is delivering more than 1,200 mobile projects and 150 broadband projects across the state, ensuring Victorians can connect with loved ones, the community and essential services – especially during emergencies.

    “This new pilot program will deliver fast, reliable mobile services in regional Victoria – improving connectivity for communities, tourists and businesses.”
     

    MIL OSI News –

  • MIL-OSI New Zealand: Base Woodbourne resolution with Kurahaupō Iwi

    Source: New Zealand Government

    The Government and three Kurahaupō Iwi have signed a $25.2million agreement to resolve the post-Treaty settlement issue of contaminated land at RNZAF Base Woodbourne. 

    Ngāti Apa ki te Rā Tō Trust, Rangitāne o Wairau Settlement Trust, and Te Rūnanga o Ngāti Kuia each received $8.4 million after contaminated soil at Base Woodbourne near Blenheim prevented the three Iwi from purchasing a substantial part of the site as originally intended in their Treaty settlement redress.

    The NZDF as the landholding agency and Te Arawhiti, as the responsible agency to ensure the durability of Treaty settlements, worked together to resolve the issue and an agreement was signed with Iwi on 14 October 2024.

    Māori Crown Relations Minister Tama Potaka praised the three Iwi for their ongoing commitment to resolving the issue.

    “I know this mahi has presented everyone involved with challenges, and I particularly want to acknowledge and thank the Iwi for their resolution to move forward.

    “Upholding Treaty settlement commitments is a priority for this government. In this case, the negotiated settlement redress could not be delivered as intended and it was incumbent on us to work with Iwi to find a mutually agreeable solution.”

    Contamination from per- and poly-fluoroalkyl substances (PFAS) contained in firefighting foams, was found in the soil at Woodbourne as part of the Crown’s ‘due diligence’ phase of engagement between the Iwi and the New Zealand Defence Force in 2019.

    PFAS can accumulate in the human body and does not break down in the environment, posing potential health and environmental risks.

    “The $25.2m confirmed in Budget 2024 compensates the Iwi for being unable to purchase the remainder of the site due to the extent of the contamination, which includes the operational land and housing block as intended,” Mr Potaka says.

    “National has a proud history of delivering settlements with Iwi and we will continue to build on that legacy.”

    Kua ea te take e pā ana ki te whenua o Base Woodbourne ki te taha o ngā iwi o Kurahaupō

    Kua hainatia e te Kāwanatanga me ngā iwi e toru o te waka o Kurahaupō tētahi whakaaetanga e $25.2 miriona te nui o te pūtea, hei whakaea i tētahi take e pā ana ki ngā matū kino kei te whenua o RNZAF Base Woodbourne.

    E $8.4 miriona te nui o te pūtea i whakawhiwhia ki ia iwi, arā, ki a Ngāti Apa ki te Rā Tō Trust, ki a Rangitāne o Wairau Settlement Trust, ki Te Rūnanga o Ngāti Kuia hoki i te mea kāore rātou i āhei ki te hoko i tētahi wāhi nui o ngā whenua i tāpuia mā ngā iwi e toru nei i raro i tō rātou whakataunga Tiriti nā te whakakinotanga o te one ki Base Woodbourne e pātata ana ki Te Waiharakeke.

    I mahitahi Te Ope Kātua o Aotearoa i raro i tōna tūranga hei kaipupuri whenua me Te Arawhiti hei kaiwhakapūmau o ngā whakataunga Tiriti ki te whakatutuki i te kaupapa, ā, ka hainatia tētahi whakaaetanga ki te taha o ngā iwi i te 14 o Oketopa i te tau 2024.

    Ka mihia ngā iwi e toru e te Minita o Te Arawhiti, e Tama Potaka i tō rātou manawanui ki te whakatutuki i tēnei take.

    “Kei te mōhio au ki ngā uauatanga i tau atu ki runga i ngā tāngata katoa i whai wāhi mai ki tēnei mahi, ā, kei te mihi atu au ki ngā iwi i tō rātou whakaae ki te ahu whakamua.

    “Ko te whakamanatanga o ngā whakataunga Tiriti tētahi o ngā whāinga matua a tēnei kāwanatanga. Kāore mātou i āhei ki te hoatu i te paremata i whiriwhiringia i roto i te whakataunga, nō reira nō mātou anō te haepapa ki te mahi ngātahi ki ngā iwi ki te kimi i tētahi whakautu e pai ana ki ngā rōpū e rua.”

    I kitea ngā paitini nā ngā matū kino o te pāhuka patu ahi, e kīia ana ko te PFAS, ki roto i te one ki Woodbourne i te Karauna e takatū ana mō ngā whakawhitinga kōrero i waenga i ngā iwi me Te Ope Kātua o Aotearoa i te tau 2019.

    Ka noho tonu te PFAS ki roto i te tinana, ā, e kore hoki e popo i te au tūroa, nā reira he matū mōrearea rawa tēnei ki te tangata me te taiao.

    “I tohua te $25.2m i te Tahua Pūtea o te tau 2024 hei utu paremata ki te iwi i te mea kāore rātou i āhei ki te hoko i te toenga o te whenua nā te nui o ngā matū kino ki reira, arā, e kapi katoa ana tērā i te whenua e whakamahia ana e Te Ope Kātua me tētahi huinga whare i tāpaea i mua,” te kī a Mr Potaka.

    “E tū whakahīhī ana a Nāhinara i te whakatutukinga o te huhua o ngā whakataunga ki te taha o ngā iwi i roto i ngā tau, ā, ka haere tonu tērā mahi.”

    MIL OSI New Zealand News –

  • MIL-OSI Canada: Ensuring fair electoral representation for Albertans

    Source: Government of Canada regional news

    .
    .

    [embedded content]

    The Justice Statutes Amendment Act, 2024, would amend several pieces of legislation, including the Electoral Boundaries Commission Act, the Public’s Right to Know Act, the Critical Infrastructure Defence Act and the Alberta Evidence Act. Proposed amendments would increase access to justice and address the current needs of Albertans.  

    Electoral Boundaries Commission Act

    If passed, amendments to the Electoral Boundaries Commission Act would direct the commission to increase the number of electoral divisions in Alberta from 87 to 89 and clarify the list of factors the commission may consider when drawing up the new electoral boundaries.

    Under the Electoral Boundaries Commission Act, the population of each electoral division in Alberta must not be more than 25 per cent above or more than 25 per cent below the average population of all the proposed electoral divisions. Currently, the populations of nine electoral divisions in Alberta are greater than 25 per cent of the average electoral division population. 

    Proposed amendments would help address the significant increase in Alberta’s population since the most recent provincial election, and ensure Albertans have effective representation in the legislature.

    “The amendments we are proposing are essential to keeping up with Alberta’s significant population growth and ensuring fair, effective representation for all Albertans in the legislature. By increasing the number of electoral divisions, we demonstrate our commitment to balanced and equitable representation for all Albertans.”

    Mickey Amery, Minister of Justice and Attorney General

    Public’s Right to Know Act

    The Public’s Right to Know Act legislates public reporting of crime data to make it easier for Albertans to know what’s happening in their community. Proposed amendments would allow the minister of justice to require government departments, municipalities and police services to provide up-to-date data, which will foster greater sharing of information and a better understanding of the criminal justice system.

    Critical Infrastructure Defence Act

    The Critical Infrastructure Defence Act protects essential infrastructure by creating offences for trespassing, interfering with operations or causing damage. Proposed amendments would incorporate the health care facilities currently identified in the regulation into the act, ensuring the definition of essential infrastructure is contained in one place. The definition of essential infrastructure is currently contained in both the act and the Critical Infrastructure Defence Regulation. With this amendment, the Critical Infrastructure Defence Regulation, which initially added “prescribed health care facilities” into the definition of essential infrastructure, will no longer be needed and will be repealed.  

    Alberta Evidence Act

    The Alberta Evidence Act sets out a process for individuals to give evidence to the court either orally or in writing. Proposed amendments would give Albertans simpler and more modern processes for confirming the truth of the information they provide to the courts. These amendments would save Albertans time and money by allowing them to certify information electronically rather than visiting a courthouse or paying to swear or affirm an oath in person. Processes will still be available for those who prefer in-person and paper-based execution of documents. 

    Quick facts

    • Between July 1, 2023 and July 1, 2024, Alberta’s population grew by around 204,000 people or 4.4 per cent. This is the highest annual growth rate since 1981 and the highest among all provinces.
    • The populations of nine electoral divisions currently exceed 25 per cent of the average population of each electoral division, which is the maximum deviation allowed under the legislation. 
    • An Electoral Boundaries Commission reviews existing electoral boundaries and makes proposals to the legislative assembly about area, boundaries and names of the electoral divisions.
    • A new Electoral Boundaries Commission is appointed eight to ten years after the appointment of the previous commission.
    • When drawing up the new electoral boundaries, the commission must consider the requirement for effective representation for all Albertans. In addition, the commission may consider:
      • The sparsity and density of population.
      • Communities of interest, including municipalities, regional and rural communities, Indian reserves and Metis settlements.
      • Geographical features, including the availability and means of communication and transportation between various parts of Alberta.
      • The desirability of understandable and clear boundaries.
      • The rate of population growth.
      • Any other factors the commission considers appropriate.

    Related information

    • Ensuring fair electoral representation
    • Bill 31: Justice Statutes Amendment Act, 2024

    Multimedia

    • Watch the news conference
    • Listen to the news conference


    MIL OSI Canada News –

  • MIL-OSI New Zealand: FAQs – Unified Funding System

    Source: Tertiary Education Commission

    What are performance element incentive payments? When will they be implemented?
    The learner component has an incentive payment element which will be paid to each TEO on achieving the performance expectations set by TEC. This will be part of TEOs’ annual investment plan process within TEOs’ learner success plan, where appropriate.
    TEC is taking a phased approach to implementing these incentive payments. In 2023, this payment will be required of a small number of TEOs (but those with significant levels of learner component funding), then rolling out to cover all TEOs in 2024.  
    For more information, please see the Learner Component section of our website.
    How do TEOs apply for learner component funding?
    TEOs will not need to apply for learner component funding. It will be allocated as part of TEOs’ overall funding for VET.
    Can PTEs apply for more transitions funding?  How do they do this?
    No. TEC will allocate transition funding to eligible TEOs based on the published criteria and allocation methodology.
    There are no additional reporting requirements.
    What is the definition of ‘low prior achievement’ (LPA)?
    In 2022, this is a learner under the age of 25 as at the date of enrolment who has not previously achieved a qualification on the NZQF at level 3 or above.
    From 2023, it will apply to all learners as at the date of enrolment who has not previously achieved a qualification on the NZQF at level 3 or above, not just those under 25.
    How are learners with LPA identified by the TEC?
    SDR, ITR and NZQA data are used to determine LPA.  If prior education records are not available for a learner, they are deemed to be LPA.
    Does the LPA include equivalent qualifications achieved overseas?
    Where overseas qualifications are recorded in the data, they are taken into account in the LPA analysis.
    Will a student out of high school into tertiary education be considered someone with LPA?
    Students that have not achieved NCEA level 3 are considered having LPA.
    Will a PTE lose their learner component funding if an LPA learner achieves at level 3 and transitions to a level 4 course, unless the student qualifies under a different component?
    The learner attributes are proxies for distributing funding. The learner component is not intended to be targeted at specific learners with these characteristics – the funding is a contribution for the support of all learners.  It is expected that each TEO will determine the actual support each learner requires, whether or not the learner has any of the characteristics used for the funding proxy.
    Can learner component funding be recovered through the wash-up process?
    No, there are no recoveries of the learner component.
    Can a TEO update the Disability Status and Disability Support Needs fields after enrolment?
    Yes, if a learner’s disability status has changed since their enrolment, and the TEO has also obtained the learner’s answers to the Disability Support Needs questions, TEOs can amend the record in the next learner file submission.
    How were the four learner groups that are linked to the learner component chosen?
    We undertook extensive analysis of data on the performance of the Vocational Education and Training (VET)  system to understand more about those learners who, on average, have been not well served by the education system in the past. This analysis showed that there were four groups of learners most at risk of not completing VET qualifications and/or face a range of disadvantages in the VET system: learners with low prior achievement, disabled learners, Māori learners and Pacific learners.
    Why are only four learner groups linked to funding?
    Accurately identifying each individual learner’s needs is challenging. We needed a way to approximate the level of need among each TEO’s learner population. We did this by using relatively large learner groups that are more likely to face disadvantages in the VET system. Our analysis shows that these four groups of learners are good proxies of need among each TEO’s learner population, that is, they approximate the level of need in a straightforward way.
    What about learners who don’t fall into the four groups linked to funding? How will they get support?
    TEOs should use learner component funding for all learners who need additional support, not just for learners in the four identified groups. The four groups serve as a proxy for learners who need additional support to be successful in VET. Providers are expected to identify the unique needs of all their learners (including through engagement with learners and their communities), decide how best to support them, and allocate funding accordingly. All learners should therefore receive the support they need to be successful in VET.
    Why is there a difference in rates for Māori and Pacific learners compared to learners with low prior achievement and disabled learners?
    Data is mixed on how the system performs for Māori and Pacific learners. For example, while Māori learners are more likely than New Zealand European learners to participate in VET, they experience poorer employment outcomes from their study. This means that tying funding to a participation measure alone is unlikely to have the results we want to see. We have therefore developed a performance incentive payment that can more directly incentivise the outcomes we want. Māori will be involved in developing the indicators for this.
    Importantly, for Māori and Pacific learners who also have low prior achievement and/or are disabled, providers will receive both funding rates. Māori and Pacific learners who have low prior achievement and/or are disabled will attract the highest level of funding. It recognises that these learners have compounding levels of disadvantage.
    Will the incentive payments be the same as the previous performance-linked funding?
    No. We are still developing the details of how they will work but they are not intended to be the same as performance-linked funding. Further information will be available in 2022.
    How will performance expectations for each TEO be set?
    We are still developing the details of how these will be set along with related incentive payments. We will work with stakeholders to finalise the details of the performance part of the learner component. Further information will be available in 2022.
    What happens to existing equity funding for VET?
    The learner component replaces equity funding for VET. From 2023, equity funding will not apply to VET but will continue for non-UFS provision.
    Why doesn’t the learner component apply to the assessment and verification mode?
    The assessment and verification mode will support learners who are employed and receive support for their learning and wellbeing directly from their employer. Providers will have a limited role focused on quality assurance of the assessment that underpins learners’ qualifications. This means providers will have little direct contact with learners and limited scope to engage with and support learners.
    How will the funding be calculated with learners with more than one eligible characteristic?
    We will calculate funding by allocating:

    the relevant rate where a learner is identified in the data as disabled and/or having low prior achievement
    the relevant rate where a learner is identified in the data as Māori and/or Pacific
    both relevant rates where a learner is identified in the data as disabled and/or having low prior achievement and as Māori and/or Pacific (both rates apply).

    How are learners with low prior achievement identified?
    Learners with low prior achievement are those who have not achieved a prior qualification at level 3 or above on the New Zealand Qualifications Framework (NZQF) as at the learner’s enrolment start date.
    How will support for learners change?
    Over time, all VET learners can expect learning and wellbeing support that is tailored to their specific needs. This will take time but we expect providers to more proactively identify learners who may need support and for providers to be more focused on meeting learners’ needs.
    Who receives the funding? And who decides how it is spent?
    Learner component funding will be allocated to TEOs. They will decide how to spend this funding in a way that supports all of their learners’ needs.
    How will this improve the way the VET system performs for Māori learners?
    Māori learners can expect to have increased opportunities to enrol in and complete VET qualifications that have strong employment outcomes including apprenticeships. Providers and employers will be encouraged to work together to increase hiring, training and support for Māori learners. Labour market underutilisation rates could drop, and median salaries could rise. Māori learners will be able to consistently expect culturally affirming learning environments.
    How will this improve the way the VET system performs for Pacific learners?
    As for Māori, Pacific learners can expect to have increased opportunities to enrol in and complete VET qualifications that have strong employment outcomes, including apprenticeships. Providers and employers will be encouraged to work together to increase hiring, training and support for Pacific learners. Labour market underutilisation rates could drop, and median salaries could rise. Pacific learners will be able to consistently expect culturally affirming learning environments
    How will this improve the way the VET system performs for disabled learners?
    Providers will have increased capability and capacity to understand, identify and support disabled learners’ needs. Providers and employers will be encouraged to work together to improve hiring and training rates and support for disabled employees. Disabled learners could increasingly enrol in, and complete, VET qualifications that have strong employment outcomes, including work-based training. The very high labour market underutilisation rates for disabled people could drop.
    How will this improve the way the VET system performs for learners with low prior achievement?
    Learners with low prior educational achievement can expect more support to complete their qualifications. We are seeking a significant improvement in qualification completion rates for these learners compared to other learner groups.
    How are disabled learners identified?
    Disabled learners are learners who identify as disabled on enrolment forms and learners who access disability support from providers. TEC is working with providers and the wider sector to improve data collection on disabled learners.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Coalition Govt’s expensive tunnel vision for Wellington comes at the expense of the regions

    Source: Green Party

    A second Mount Victoria tunnel, a duplicate Terrace tunnel alongside highway widening will dump more traffic in the centre of Wellington and result in more pollution. 

    “We know urban highway widening does not solve the problem. It’s a 1950s-style solution that makes traffic and pollution worse,” says the Green Party’s spokesperson for Transport, Julie Anne Genter. 

    “The only way to ensure more people can move easily around Wellington in the future is to substantially invest in rail, public transport, and active transport. If the Government eventually brings in congestion pricing, people will want and need those alternatives – so logically, they should be the priority.

    “If the Government is going to spend a few billion dollars on a road, it would be better spent in the regions where it will actually make a difference – not just a few kilometres of an extra lane in the centre of Wellington.

    “The cost of these projects has not yet been publicly disclosed, but it will easily be more than the $3 billion deemed ‘unaffordable’ for the crucial inter-island ferries project, or the Dunedin hospital. 

    “It’s outrageous that the Coalition Government is prioritising billions of dollars for a few kilometres of an extra car lane in Wellington, while cutting rail and public transport improvements that would deliver more for our people and our climate.

    “The most concerning aspect is the use of the Fast Track Bill, which means local government, communities and the environment will not be considered in the least. This is a classic example of the Government dodging democracy to implement policies and projects that are bad for both people and planet. 

    “Wellingtonians deserve to have a say on a project that will have such a monumental impact on the outlook of our city and its future,” says Julie Anne Genter.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Not too late to abandon the Bill, Christopher

    Source: Green Party

    The Green Party is urgently calling on Prime Minister Christopher Luxon to abandon the Treaty Principles Bill following reports it will be introduced on Thursday. 

    “It’s not too late to do the right thing, Christopher. It’s time to abandon this Bill and honour Te Tiriti,” says the Green Party’s spokesperson for Justice, Tamatha Paul.  

    “Te Tiriti forms the founding agreement Aotearoa was built upon. It provides the foundations for an enduring relationship between tangata whenua and tangata Tiriti that ensures everybody is looked after and nobody is left behind.

    “Te Tiriti is permanent, Governments are temporary. Honouring the Treaty has to come before the honouring of coalition agreements. 

    “At Waitangi, Christopher Luxon told Māori that Te Tiriti was our past, present and future. At the tangi of Kiingi Tuuhetia, he spoke to the importance of kotahitanga and the need to honour the legacy of the late Kiingi. If his words are actually worth anything, he would not allow legislation that aims to completely corrupt and defile the defining essence of our nation anywhere near our Parliament. 

    “It is high time that his rhetoric matched the reality of his actions when it comes to Te Tiriti. He has stood by and watched as Treaty protections were removed from state care, as the Māori Health Authority was scrapped and as Māori wards were essentially erased. 

    “The Prime Minister has two choices: abandon the Bill and honour our founding agreement or unleash a level of division and disharmony that will cut to the very core of our country.

    “We call on the Prime Minister to do the right thing and uphold the dignity, meaning and integrity of our founding agreement,” says Tamatha Paul. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Near four-year high unemployment reveals dire need for new direction

    Source: Green Party

    Today, Statistics New Zealand’s latest labour market report revealed that unemployment has reached 4.8 per cent, the highest rate since late 2020, during the COVID pandemic.

    “The Government’s economy for the rich is leaving thousands behind,” says the Green Party’s Spokesperson for Social Development and Employment, Ricardo Menéndez-March.

    “We can build an economy that works for everyone and leaves nobody behind by investing in the public services and infrastructure which support our communities as well as programmes like jobs for nature that provide people with meaningful and stable work. 

    “The unemployment rate has hit the highest level since COVID, and this is down to the coalition government relying on making people unemployed to lower inflation while prioritising tax cuts, slashing public investment, and undermining the construction industry.

    “Losing a job shouldn’t condemn families to poverty, yet successive Governments have set benefit levels below the poverty line and pushed ahead with sanctions that entrench hardship. 

    “Instead of punching down on those doing it the toughest and pushing more children into hardship, the Greens will lift all families out of poverty with a Guaranteed Minimum Income. 

    “This Government’s punitive approach to welfare and public investment is clearly not working. The Government has engineered an economy that punches down on our communities, one without jobs that simultaneously punishes people for not being able to find work. 

    “Poverty is a political choice, one that successive governments have chosen not to address. However, with unemployment rising and households experiencing wave after wave of financial strain, there is no better time than the present to end poverty and introduce an Income Guarantee. 

    “This is a policy we campaigned on and will continue to push as disparities in wealth widen and the incomes of people on the breadline stagnate. 

    “The Income Guarantee is a commitment to every New Zealander that no matter what, your income will never fall below $390 per week, after tax. For couples, our Income Guarantee will be at least $780, and a single parent will always have an income of at least $750.

    “The Greens would support people into work with a supportive welfare system, more training opportunities, and restarting public investment in healthcare, schools, and houses that create good jobs,” says Ricardo Menéndez-March.

    • Statistics NZ data for the September quarter can be found here. 
    • The Reserve Bank’s Financial Stability report can be found here. 
    • The Income Guarantee 2023 election policy can be found here. Rates have been adjusted for inflation.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Safe, secure digital identity services on the way

    Source: New Zealand Government

    New Zealanders can expect safe and secure digital identity services following the finalisation of the Digital Identity Services Trust Framework, Minister for Digitising Government Judith Collins says.

    “New Zealanders want to be able to complete everyday tasks online and in person in a way that’s safe and secure,” Ms Collins says.

    “Today’s announcement paves the way for safe future digital identity services, such as a digital driver licence, bank ID or trade certification.”

    The Trust Framework sets out how accredited digital identity services, including for privacy and security, must work, with providers meeting the specified rules and regulations.

    “There are many instances where we need to share information, such as our name, address, age or qualifications, and this often involves turning up in person or providing insecure scanned copies of our important physical documents,” Ms Collins says.

    “Using accredited digital identity services makes it easier to securely share your information, helps protect from identity theft, and gives New Zealanders greater control over their own information.

    “If people choose to use digital identity services, they have the choice about what information they share, and who they share it with. No one will be required to use digital identity services but those who do can be assured that accredited services can be trusted.”

    The Trust Framework rules come into effect on 8 November 2024. More information about the Trust Framework, can be found here: Trust Framework – dia.govt.nz

    Note to Editors:

    • The Trust Framework does not create a central database, track users or allow organisations to exchange user information.
    • With accredited digital identity wallets and apps, information is protected by encryption technology. Consent is always required, meaning people must give their express permission before their information is shared.
    • Digital credentials always reside with the user and the issuer has no knowledge or oversight of when and how the user presents their credentials.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: ACCC to livestream public hearings for Supermarkets Inquiry

    Source: Australian Competition and Consumer Commission

    The ACCC will conduct a series of public hearings from 7 to 22 November as part of its ongoing Supermarkets Inquiry.

    The public hearings will be livestreamed via the ACCC website and will be an opportunity for the ACCC to gain a more complete understanding of the key issues in the retail grocery sector and its associated supply chains.

    The hearings will involve executives of Aldi, Coles, Metcash, Woolworths and other stakeholders.

    “We have received a large volume of information from the major participants in the supermarket sector and these hearings will provide an opportunity for us to seek clarification on a range of the very complex matters that are detailed in that information,” ACCC Deputy Chair Mick Keogh said.

    “Our inquiry is ongoing and as such, we have not yet reached concluded views on the key issues flagged in our interim report. We will outline our views and recommendations in the final report for the inquiry, which is due to the Treasurer by 28 February 2025.”

    The scheduled hearing dates and attendees are as follows:

    • 7-8 November – Consumer advocacy groups, supplier industry representative bodies and supplier(s)
    • 11-12 November – Aldi
    • 14-15 November – Metcash
    • 18-19 November – Woolworths
    • 21-22 November – Coles

    More information on the hearings can found on the ACCC website. The livestream will become available on this webpage: Supermarkets inquiry public hearings

    Background

    On 25 January 2024, the Australian Government announced that it will direct the ACCC to conduct an inquiry into Australia’s supermarket sector.

    The ACCC received the formal direction from the Australian Government and the terms of the reference for the inquiry on 1 February 2024.

    On 29 February 2024, the ACCC published an online survey and issues paper seeking views from consumers, farmers and other interested parties. 

    On 27 September 2024, the ACCC published its interim report outlining what it has heard at the half-way point of the inquiry.

    The final report for the inquiry is due to be provided to the Government by 28 February 2025.

    The ACCC’s proceedings against Woolworths and Coles are separate to the inquiry, and the issues in dispute in these proceedings will not be considered by the Supermarkets Inquiry.

    MIL OSI News –