Category: Asia Pacific

  • MIL-OSI: JOYY Inc. Filed 2024 Annual Report on Form 20-F

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 29, 2025 (GLOBE NEWSWIRE) — JOYY Inc. (NASDAQ: JOYY) (“JOYY” or the “Company”), a global technology company, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the Securities and Exchange Commission on April 29, 2025, Eastern Time. The annual report can be accessed on the Company’s investor relations website at http://ir.joyy.com.

    The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s Investor Relations Department at joyy-ir@joyy.com.

    About JOYY Inc.

    JOYY is a leading global technology company with a mission to enrich lives through technology. With a diversified product portfolio spanning live streaming, short-form videos, casual games, instant messaging, and emerging initiatives like advertising, JOYY has evolved beyond social entertainment into a multifaceted ecosystem powered by AI and data-driven technologies. Headquartered in Singapore and operating across the globe, JOYY has fostered a vibrant user community through its localized strategies. JOYY’s ADSs have been listed on the NASDAQ since November 2012.

    Investor Relations Contact

    JOYY Inc.
    Jane Xie/Maggie Yan
    Email: joyy-ir@joyy.com

    ICR, LLC.
    Robin Yang
    Email: joyy@icrinc.com

    The MIL Network

  • MIL-OSI: authID Announces Strategic Partnership with TechDemocracy to Accelerate Passwordless Identity for Workforce & Customer Access

    Source: GlobeNewswire (MIL-OSI)

    Leading cybersecurity services firm to train its team on authID’s biometric authentication and verification platforms, aiming to accelerate the adoption of secure and privacy-preserving passwordless solutions.

    Denver, Colorado and Piscataway, New Jersey, April 29, 2025 (GLOBE NEWSWIRE) — authID, a leading provider of identity proofing and biometric authentication, today announced a partnership with TechDemocracy, a global cybersecurity services firm with over 25 years of Identity and Access Management (IAM) expertise, to expand the industry’s familiarity with authID’s platform and further the transition to frictionless, passwordless sign-ins.

    As a newly designated integration services partner, TechDemocracy will certify an initial cohort of 25 professionals on authID’s Proof, Verified, and PrivacyKey™ solutions. This cohort will be certified to consult, implement, operate, and support authID’s platform, which features one-in-one-billion false-match accuracy rates and lightning-fast verification speeds. It also provides companies with unparalleled peace of mind through its PrivacyKey technology, which ensures compliance and privacy through a groundbreaking private/public key process that stores zero biometric data.

    “Passwordless authentication is more than a trend—it’s a transformational shift,” said Viresh Garg, SVP of Cybersecurity & Emerging Technologies at TechDemocracy. “By partnering with authID, we’re helping enterprises embrace secure, frictionless access experiences through identity proofing, all while bringing the speed, structure, and advisory depth customers expect from us.”

    As part of this partnership, TechDemocracy will also be developing a library of QuickStart accelerators to embed authID’s biometric verification and continuous user authentication capabilities into digital identity journeys built on Ping Identity and Microsoft Entra. These accelerators enable rapid deployment of secure, low-friction authentication flows for both Workforce IAM and CIAM use cases.

    “We’re excited to expand our partner portfolio with authID’s leading biometric solutions that complement and work with our existing identity security partners,” added Todd Rossin, CEO & Chief Strategy Officer of TechDemocracy. “This partnership broadens and strengthens the capabilities we provide our customers and further fosters the widespread adoption of passwordless security.”

    “We are thrilled to welcome TechDemocracy as a strategic partner,” said Rhon Daguro, CEO of authID. “Their deep IAM expertise and unique focus on usability, security, and cost optimization will empower more organizations to fully unlock the value of authID’s passwordless identity—enabling faster, smarter transitions to frictionless, yet highly secure authentication experiences.”

    As part of their collaboration, authID and TechDemocracy will co-author a series of white papers, co-host webinars, and lead roadshows to help organizations navigate the shift from passwords to modern, biometric-first authentication.

    In addition, TechDemocracy is offering a series of complimentary one-day workshops led by its Field CISO team to help organizations evaluate their access management strategy, assess their current platform investments, compare passwordless options, and understand best practices for implementing biometric-based authentication at scale.

    Connect with TechDemocracy about authID’s platforms by emailing authID@techdemocracy.com.

    About authID

    authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID powers biometric identity proofing in 700ms, biometric authentication in 25ms, and account recovery with a fast, accurate, user-friendly experience. With our ground-breaking PrivacyKey Solution, authID provides a 1-to-1-billion false match rate, while storing no biometric data. authID stops fraud at onboarding, blocks deepfakes, prevents account takeover, and eliminates password risks and costs, through the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem.

    For more information, please visit authid.ai.

    About TechDemocracy

    With over two decades of cybersecurity expertise and 1600+ global engagements, TechDemocracy specializes in workforce IAM and customer identity & access management (CIAM), governance, risk and compliance (GRC), holistic cybersecurity, and managed security services. Combining cutting-edge technology, certified experts, and proven processes, the company helps organizations secure their digital infrastructure and manage risk. Contact us to elevate your cybersecurity posture with us. With a global presence in the US, India, Canada, and the Philippines, TechDemocracy fully manages identity security solutions throughout the entire identity journey. For more information, visit www.techdemocracy.com

    Media Contacts

    NextTech Communications

    Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contacts
    Investor-Relations@authid.ai

    TechDemocracy

    Rashmi Shrivastava
    marketing@techdemocracy.com

    +1 732 404 8350

    The MIL Network

  • MIL-OSI: ACM Research Announces Preliminary Unaudited Revenue and Shipments for the First Quarter 2025

    Source: GlobeNewswire (MIL-OSI)

    Coincides with Release of ACM Shanghai First Quarter 2025 Results
    ACM Reaffirms 2025 Revenue Outlook

    FREMONT, Calif., April 29, 2025 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today announces expectations for preliminary unaudited revenue and total shipments for the first quarter of 2025. Today’s release coincides with the as-scheduled release of unaudited financial results by ACM Research (Shanghai), Inc., ACM’s principal operating subsidiary (“ACM Shanghai”), to the Shanghai Stock Exchange website [link to China Disclosure].

    ACM will discuss its full financial results for the first quarter 2025 and its revenue outlook for the remainder of the year on its earnings call on Thursday, May 8, 2025, at 8 a.m. Eastern Time (8 p.m. China Time).

    ACM announces the following:

    • preliminary unaudited revenue for the first quarter of 2025 is expected to be in the range of $165 million to $170 million, which would represent year-to-year growth of 8.4% to 11.7%.
    • preliminary total shipments for the first quarter of 2025 are expected to be in the range of $154 million to $157 million, which would represent a year-to-year decrease of 36% to 37%.   This decrease is due in part to customer pull-ins in the fourth quarter of 2024, which contributed to stronger total shipments for that period. For reference, combined total shipments for the fourth quarter of 2024 and the first quarter of 2025 are expected to grow by 8% to 9% versus the prior year periods. We anticipate a return to year-on-year growth in total shipments for the second quarter of 2025.
    • re-affirms full year 2025 revenue outlook in the range of $850 million to $950 million, which would represent year-to-year growth of 9% to 21%.

    Actual unaudited first quarter 2025 results are subject to the completion of ACM’s quarter end closing procedures and review by ACM’s independent registered public accounting firm.

    ACM currently owns an 81.1% equity interest in ACM Shanghai, and a substantial majority of ACM’s consolidated revenue and net income is contributed by ACM Shanghai. The stand-alone financial results of ACM Shanghai are reported in RMB as prepared in accordance with Chinese generally accepted accounting principles, and those results will differ, potentially materially, from ACM’s consolidated revenue and net profit for the period, which will reflect additional financial and operational items and will be prepared in U.S. dollars in accordance with U.S. generally accepted accounting principles.

    About ACM Research, Inc.

    ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.

    Forward-Looking Statements

    Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

    © ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.

    For investor and media inquiries, please contact:
       
    In the United States: The Blueshirt Group
      Steven C. Pelayo, CFA
      +1 (360) 808-5154
      steven@blueshirtgroup.co
       
    In China: The Blueshirt Group Asia
      Gary Dvorchak, CFA
      +86 (138) 1079-1480
      gary@blueshirtgroup.co

    The MIL Network

  • MIL-OSI: Aemetis to Benefit From EPA’s Approval of 15 Percent Ethanol Blend

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 29, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced today that the U.S. Environmental Protection Agency (EPA) issued a waiver allowing a 15 percent blend of ethanol (E15) to continue to be sold after May 1st which will benefit the company through increased demand and sales of the renewable fuel nationwide. The average blend of ethanol in the U.S. in 2024 was 10.4% and 14.2 billion gallons. The adoption of E15 allows up to a 50% increase in the market for ethanol in the U.S.

    “The EPA’s action allowing nationwide E15 sales to continue is a significant step toward increasing the demand for ethanol and has broad support for permanent approval from the President, as well as numerous members of Congress,” stated Eric McAfee, Chairman and CEO of Aemetis. “Permanent national approval of E15 would allow the demand for ethanol to grow as consumers nationwide benefit from lower-cost, domestic, renewable fuel that lowers the price of gasoline and supports rural communities with good jobs throughout the country.”

    The EPA has indicated its intent to ensure that E15 remains available throughout the summer driving season. The EPA’s action applies throughout the United States, except California. The E15 blend is expected to help American drivers save money at the pump, reduce carbon emissions, strengthen rural economies, and enhance U.S. energy independence, according to the Renewable Fuels Association.

    California is now the only state in the US that has not approved the E15 blend and typically has the highest average gasoline prices nationwide. To address the situation, Governor Gavin Newsom earlier this year issued a letter to the California Air and Resources Board (CARB) requesting completion of the study required to adopt E15 in California.

    The adoption of a 15 percent ethanol blend in California is projected to create more than 600 million gallons per year of new biofuels demand and save consumers an estimated twenty cents per gallon, or approximately $2.7 billion at the pump each year, according to a UC Berkeley and US Naval Academy study. Californians would also benefit from reduced greenhouse gas emissions from the increased use of ethanol, and reduced exposure to benzene and other carcinogens in gasoline.

    Senate Bill 2707, the “Nationwide Consumer and Fuel Retailer Choice Act,” was recently introduced into the U.S. Congress by 14 senators. This bill proposes the permanent sale of year-round E15 throughout the United States, except in states such as California that have their own fuel regulations. The E15 blend is approved for use in more than 95 percent of vehicles on the road today, according to the EPA.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market demand and market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network

  • MIL-OSI: QuestionPro and PerformancePoint LLC Partner to Drive Business Transformation with Data-Driven Cultures, Leadership, and Engagement

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 29, 2025 (GLOBE NEWSWIRE) — QuestionPro, a global leader in online survey and research services, is joining forces with PerformancePoint LLC, a premier consulting firm specializing in culture, leadership and engagement, to revolutionize the way organizations turn insights into action.

    This partnership goes beyond traditional employee engagement surveys and culture assessments—it provides real-time, actionable intelligence that fuels meaningful transformation. By integrating QuestionPro’s advanced employee experience and data management platform with PerformancePoint’s deep expertise in leadership and culture consulting, businesses gain a powerful, end-to-end solution to drive long-term success.

    What makes this partnership different?

    • Beyond Data, Towards Action: Most engagement surveys stop at data collection. This collaboration ensures that insights are not just gathered but translated into sustainable cultural change.
    • Real-Time Decision-Making: Organizations can access live dashboards and predictive analytics to make proactive decisions that improve employee and customer experiences.
    • A Science-Backed, Human-Centered Approach: Combining novel technology with hands-on consulting means companies don’t just react to problems—they prevent them.
    • True Culture Transformation: Instead of surface-level fixes, businesses get a proven methodology to build resilient, high-performing teams.

    “For companies committed to creating and sustaining high–performance cultures, our collaboration with PerformancePoint provides new tools,” said Arti Bedi Pullins, President at QuestionPro. “This partnership ensures organizations don’t just track engagement—they create workplaces where employees thrive and customers stay loyal.”

    “At PerformancePoint, we know that culture isn’t just a buzzword—it’s the backbone of successful businesses,” said Brad Federman, CEO of PerformancePoint LLC. “With QuestionPro’s technology and our consulting expertise, we help companies unlock the full potential of their people, transforming engagement into a competitive advantage.”

    This partnership is designed for organizations that want to maximize ROI on employee engagement and leadership development, reduce costly turnover, and build cultures that sustain business success in an ever-changing world.

    About QuestionPro
    Founded in 2006, QuestionPro is a global provider of online survey and research services that help companies make better decisions through data. Our fully integrated online platform includes surveys, research & insights, customer experience (CX) and workforce/employee experience software. We additionally offer polling, journey mapping, employee 360s, and data visualization. Our clientele ranges from small businesses to Fortune 100 companies, who rely on us for insights about customers, employees, and the marketplace. With offices in the US, Canada, Mexico, U.K., Germany, Japan, Australia, the United Arab Emirates and India, we offer customers 24-7 access to highly trained support specialists and engineers. More information is available at https://www.questionpro.com/us/

    About PerformancePoint LLC
    PerformancePoint LLC is a top-tier consulting firm specializing in employee and customer experience. With expertise in culture transformation, leadership development, and engagement strategies, PerformancePoint helps organizations create environments where employees and businesses thrive.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/06a2f5fe-b0f1-4e33-a5e3-5965a4690110

    The MIL Network

  • MIL-OSI: As European carmakers navigate the autonomous car race, Lighty’s new AI edge software offers them a lifeline amid rising tariffs

    Source: GlobeNewswire (MIL-OSI)

    Zurich, April 29, 2025 (GLOBE NEWSWIRE) — As European automakers face increasing tariffs and mounting pressure from American and Asian competitors in the autonomous driving race, leading Swiss AI startup Lightly today launches LightlyEdge – a groundbreaking edge-based data collection solution that could help level the playing field. At a time when Bosch is cutting 12,000 jobs and Mercedes is offering up to €500,000 for voluntary exits, clearly being effective and efficient matters for automotive companies. Lightly’s innovation tackles a critical bottleneck in AI development: capturing only the data that truly matters, directly at the source. This offers a strategic advantage at a time when workforce reductions threaten to slow in-house development and widen the gap with faster-moving rivals.

    As companies around the world race to develop safer autonomous vehicles, the fundamental challenge remains the same: they are drowning in data and the resulting costs. While collecting large volumes of data is essential, the difficulty lies in identifying what’s truly relevant. As AI models grow more sophisticated, so does the redundancy in the data feeding them. LightlyEdge solves this problem by making intelligent decisions about what data to keep at the moment of capture, before it enters the storage and processing pipeline.

    The LightlyEdge data collection report. 

    LightlyEdge deploys intelligent models directly onto vehicles’ cameras and sensors. The system revolutionizes data collection by analyzing video footage in real-time as it’s being captured, automatically identifying rare and valuable scenarios – like a child at a crossroad or an accident in snowy conditions – while ignoring redundant data that adds no value to training datasets. This approach dramatically slashes unnecessary storage and bandwidth costs while ensuring training datasets become more comprehensive, diverse, and optimized for real-world driving conditions.

    “This launch is a fantastic opportunity to increase development cycles for autonomous driving and driving assistance,” said Matthias Heller, Co-Founder of Lightly. “With LightlyEdge, our partners can harness smarter, real-time data collection that not only accelerates AI model training but also provides a competitive edge against established industry giants. By focusing on quality data from uncommon scenarios and hazards, we’re empowering a new era of innovation that will drive the future of mobility.”

    Lightly founders Matthias Heller and Igor Susmelj.

    The timing of LightlyEdge’s release is particularly significant. European automotive manufacturers are working to maintain their position against competitors like Tesla, whose innovative “Active Learning” approach – feeding only the most valuable data into AI models – has become a benchmark for the industry. While European companies have a rich history of engineering excellence, they now have an opportunity to leverage artificial intelligence’s potential to overhaul their operations.

    LightlyEdge captures data from cameras. 

    Building on what Lightly already achieved with LightlyOne in data centers, this new product shifts the intelligence right to where it’s needed – the edge devices in vehicles themselves. LightlyEdge gives developers real-time feedback and smart capture capabilities directly on the road. With its easy-to-use interface, teams can quickly deploy their AI models, keep an eye on them, and make them better over time – all of which dramatically speeds up how fast they can bring innovations to life.

    That speed is becoming essential. As European carmakers are feeling the squeeze from global competitors and tough trade barriers.LightlyEdge offers them a way to innovate faster while keeping costs down. By being smarter about what data they collect, these manufacturers can build better autonomous driving systems in less time and with fewer resources. This might be exactly what they need to win the autonomous car race.

    Ends

    Media images are here 

    About Lightly
    Lightly was founded in Zurich, Switzerland by Matthias Heller and Igor Susmelj, former ETH and Harvard students who worked in autonomous driving and research on computer vision and deep learning. 

    Lightly helps companies to build better machine learning models faster through better data. Data to train machine learning models is currently the biggest bottleneck in AI development. Today, Lightly is used by Fortune 500 companies and startups in autonomous driving, robotics, and video analytics. For more information, please visit https://www.lightly.ai/ or follow the company on Twitter, LinkedIn or Facebook

    The MIL Network

  • MIL-OSI: Northstrive Biosciences Strengthens IP Portfolio with New US Patent Filings for EL-22 and EL-32 Programs Covering Obesity and Animal Health

    Source: GlobeNewswire (MIL-OSI)

    NEWPORT BEACH, Calif., April 29, 2025 (GLOBE NEWSWIRE) — Northstrive Biosciences Inc. (“Northstrive”), a subsidiary of PMGC Holdings Inc. (NASDAQ: ELAB) (the “Company,” “PMGC,” “we,” or “our”), today announced the filing of four novel patent applications for its two candidates EL-22 and EL-32. These patent applications cover the animal market, as well as treating muscle loss in obese patients, both as standalone and combination therapies alongside GLP-1 receptor agonists.

    The Company filed the following four patents today:

    • EL-22 in Animals: Fusion Protein of Myo-2 for Use in Encouraging Muscle Growth in Animals (Patent Application No. 19/191,246).
    • EL-32 in Obesity as Monotherapy and Combination with GLP-1: Updated patent filings for Pharmaceutical Composition for Treatment of Muscle Loss Due to Obesity Treatments (Patent Application No. 19/191,209), and Combination Therapy for Treatment of Muscle Loss Due to Obesity Treatments utilizing GLP-1 receptor agonists (Patent Application No. 19/191,226).
    • EL-32 in Animals: Animal Feed Additive to Encourage Muscle Growth (Patent Application No. 19/191,258).

    The Company believes these newly filed patent applications support the development of Northstrive’s engineered probiotic platform, designed to advance human obesity care by preserving muscle mass while reducing fat mass, with additional potential applications in animal health.

    “We believe that EL-22 and EL-32 have the potential to treat obesity in combination with GLP-1 receptor agonists, while also serving as the foundation to a potential range of animal health products”, said Deniel Mero, Co-Founder of Northstrive. “These patent applications strengthen our IP portfolio as we advance on our mission transform the standard of care for obesity and break into the animal health market.”

    Northstrive’s patent portfolio now includes 8 patent applications and 5 issued patents that provide adequate protection in focus markets, including the USA, Japan, China and Korea.

    Licensed Product /
    Nation
    Patent Application
    Serial No.
    Title:
    EL-32 USA US 18/627,462 Pharmaceutical composition for alleviation, treatment, and prevention of sarcopenia containing microorganism transformed with cell surface display vector operably linked with gene encoding myostatin and activin A proteins as active ingredient
    EL-32 Korea 10-2022-0136606 A pharmaceutical composition for alleviation, treatment and prevention of sarcopenia containing a microorganism transformed with a vector expressing myostatin and activin A on the cell surface as an active ingredient
    EL-22 USA US 18/895,501 Fusion Protein of Myo-2 for Use in Treating Muscle Loss in Obese Patients
    EL-22 USA US 18/895,519 Combination Therapy of a Fusion Protein of Myo-2 with a GLP-1 Receptor Agonist for Use in Treating Muscle Loss in Obese Patients
    EL-22 (Animals)
    USA
    US 19/191,246 Fusion Protein of Myo-2 for Use in Encouraging Muscle Growth in Animals
    EL-32 USA US 19/191,209 Pharmaceutical Composition for Treatment of Muscle Loss Due to Obesity Treatments
    EL-32 USA US 19/191,226 Combination Therapy for Treatment of Muscle Loss Due to Obesity Treatments utilizing GLP-1 receptor agonists
    EL-32 (Animals) USA 19/191,258 Animal Feed Additive to Encourage Muscle Growth
         
    Patent No. Registration No. Title:
    EL-22 Korea 10-0857861-0000 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 Korea 10-0872042-0000 Cell Surface Expression Vector of Myostatin and Microorganisms Transformed Thereby
    EL-22 USA US 8470551 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 Japan US 5634867 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 China ZL200780101116.2 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof


    About Northstrive Biosciences Inc.

    Northstrive Biosciences Inc., a PMGC Holdings Inc. company, is a biopharmaceutical company focusing on the development and acquisition of cutting-edge aesthetic medicines. Northstrive’s lead asset, EL-22, leverages an engineered probiotic approach to address obesity’s pressing issue of preserving muscle while on weight loss treatments, including GLP-1 receptor agonists. For more information, please visit www.northstrivebio.com.

    About PMGC Holdings Inc.

    PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently, our portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “believes,” “expects,” “plans,” “potential,” “would” and “future” or similar expressions such as “look forward” are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC’s filings with the United States Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    IR Contact:
    IR@pmgcholdings.com

    The MIL Network

  • MIL-OSI: Franklin Electric Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 Highlights

    • Consolidated net sales of $455.2 million, a decrease of 1% to the prior year
    • Energy Systems net sales increased 8% while Water Systems net sales were up less than 1% and Distribution net sales declined 3%
    • Operating income was $44.1 million with operating margin of 9.7%
    • GAAP fully diluted earnings per share (EPS) was $0.67

    FORT WAYNE, Ind., April 29, 2025 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. today announced its first quarter financial results for fiscal year 2025.

    First quarter 2025 net sales were $455.2 million, compared to first quarter 2024 net sales of $460.9 million. First quarter 2025 operating income was $44.1 million, compared to first quarter 2024 operating income of $47.9 million. First quarter 2025 EPS was $0.67, versus EPS in the first quarter 2024 of $0.70.

    “Our underlying businesses performed largely as expected in the first quarter.   Order trends remain positive, supporting a robust backlog as we enter the second quarter. Furthermore, strong performance in our Energy Systems segment helped offset unfavorable weather impacting our Distribution business, underscoring the value of our diversified global portfolio. One-time expenses associated with our executive transition and recent acquisitions presented earnings headwinds during the quarter, but our operating strength was clear,” commented Joe Ruzynski, Franklin Electric’s CEO.

    “During the quarter, we continued to invest in growth by completing two acquisitions, in line with our value creation framework. We look forward to deploying our integration playbook and enhancing the margin profiles of these great businesses. Despite uncertainty in the macroeconomic environment and potential tariffs, we are confident in Franklin Electric’s competitive position with strong brands, leading service, and a healthy operating footprint as we continue to execute our strategic priorities,” concluded Mr. Ruzynski.

    Segment Summaries

    Water Systems net sales were $287.3 million in the first quarter, an increase of $0.7 million or less than 1 percent compared to the first quarter of 2024. Results were driven by the incremental sales impact of recent acquisitions and higher sales of groundwater products, water treatment products and large dewatering pumps. These sales increases were partially offset by the negative impact of foreign currency translation and lower sales of all other surface products. Water Systems operating income in the first quarter of 2025 was $43.4 million. First quarter 2024 Water Systems operating income was $47.1 million.

    Distribution net sales were $141.9 million, a decrease of $5.1 million or 3 percent compared to the first quarter 2024. Sales decreases were driven by lower volumes and continued negative pricing. The Distribution segment operating income in the first quarter 2025 was $2.1 million. First quarter 2024 Distribution operating income was $1.8 million.

    Energy Systems net sales were $66.8 million in the first quarter 2025, an increase of $4.7 million or 8 percent compared to the first quarter 2024. Sales increases were driven by higher volumes and price realization. Energy Systems operating income in the first quarter of 2025 was $21.9 million. First quarter 2024 Energy Systems operating income was $18.8 million.

    Cash Flow

    Net cash flows used in operating activities for the first quarter of 2025 were $19.5 million versus $1.4 million in the same period in 2024.

    2025 Guidance

    The Company is maintaining its guidance for full year 2025 sales to be in the range of $2.09 billion to $2.15 billion and reducing the low end of its earnings guidance and now expects full year 2025 EPS to be in the range of $3.95 to $4.25.

    Earnings Conference Call

    A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The first quarter 2025 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

    https://edge.media-server.com/mmc/p/yzximy3p

    For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

    https://register-conf.media-server.com/register/BI5cb1cdcef9da4de38184396c5211b443

    All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

    A replay of the conference call will be available from Tuesday, April 29, 2025, through 9:00 am ET on Tuesday, May 6, 2025, by visiting the listen-only webcast link above.

    Forward Looking Statements

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, changes in tariffs or the impact of any such changes on the Company’s financial results, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    About Franklin Electric

    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2024 and America’s Climate Leaders 2024 by USA Today.

    Franklin Electric Contact:

    Russ Fleeger
    Franklin Electric Co., Inc.
    InvestorRelations@fele.com

     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
           
    (In thousands, except per share amounts)      
           
      First Quarter Ended
      March 31, 2025   March 31, 2024
           
    Net sales $ 455,247     $ 460,900  
           
    Cost of sales   291,344       297,320  
           
    Gross profit   163,903       163,580  
           
    Selling, general, and administrative expenses   119,643       115,644  
           
    Restructuring expense   159        
           
    Operating income   44,101       47,936  
           
    Interest expense   (1,799 )     (1,448 )
    Other income, net   843       706  
    Foreign exchange expense, net   (1,293 )     (4,880 )
           
    Income before income taxes   41,852       42,314  
           
    Income tax expense   10,478       9,222  
           
    Net income $ 31,374     $ 33,092  
           
    Less: Net income attributable to noncontrolling interests   (412 )     (133 )
           
    Net income attributable to Franklin Electric Co., Inc. $ 30,962     $ 32,959  
           
    Earnings per share:      
    Basic $ 0.67     $ 0.71  
    Diluted $ 0.67     $ 0.70  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
           
    (In thousands)      
           
      March 31, 2025   December 31, 2024
    ASSETS      
           
    Cash and cash equivalents $ 83,994     $ 220,540  
    Receivables (net)   271,688       226,826  
    Inventories   560,338       483,875  
    Other current assets   40,627       32,950  
    Total current assets   956,647       964,191  
           
    Property, plant, and equipment, net   236,732       223,566  
    Lease right-of-use assets, net   60,294       62,637  
    Goodwill and other assets   675,199       570,212  
    Total assets $ 1,928,872     $ 1,820,606  
           
           
    LIABILITIES AND EQUITY      
           
    Accounts payable $ 190,295     $ 157,046  
    Accrued expenses and other current liabilities   125,316       139,989  
    Current lease liability   18,688       18,878  
    Current maturities of long-term debt and short-term borrowings   149,730       117,814  
    Total current liabilities   484,029       433,727  
           
    Long-term debt   14,858       11,622  
    Long-term lease liability   41,382       43,304  
    Deferred income taxes   32,718       10,193  
    Employee benefit plans   30,046       29,808  
    Other long-term liabilities   24,544       22,118  
     
    Redeemable noncontrolling interest   1,373       1,224  
           
    Total equity   1,299,922       1,268,610  
    Total liabilities and equity $ 1,928,872     $ 1,820,606  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
      Three Months Ended
    (In thousands)      
      March 31, 2025   March 31, 2024
    Cash flows from operating activities:      
    Net income $ 31,374     $ 33,092  
    Adjustments to reconcile net income to net cash flows from operating activities:      
    Depreciation and amortization   14,433       13,792  
    Non-cash lease expense   5,241       5,194  
    Share-based compensation   4,962       4,042  
    Other   1,080       4,036  
    Changes in assets and liabilities:      
    Receivables   (29,376 )     (43,365 )
    Inventory   (43,669 )     (28,105 )
    Accounts payable and accrued expenses   (3,744 )     8,576  
    Operating leases   (5,091 )     (5,305 )
    Other   5,322       6,681  
           
    Net cash flows from operating activities   (19,468 )     (1,362 )
           
    Cash flows from investing activities:      
    Additions to property, plant, and equipment   (6,836 )     (9,184 )
    Proceeds from sale of property, plant, and equipment   397       102  
    Acquisitions and investments   (109,687 )     (1,151 )
    Other investing activities   9       17  
           
    Net cash flows from investing activities   (116,117 )     (10,216 )
           
    Cash flows from financing activities:      
    Net change in debt   20,366       11,397  
    Proceeds from issuance of common stock   1,438       4,050  
    Purchases of common stock   (6,902 )     (9,047 )
    Dividends paid   (13,160 )     (12,395 )
    Deferred payments for acquisitions   (4,300 )     (348 )
           
    Net cash flows from financing activities   (2,558 )     (6,343 )
           
    Effect of exchange rate changes on cash and cash equivalents   1,597       (1,728 )
    Net change in cash and cash equivalents   (136,546 )     (19,649 )
    Cash and cash equivalents at beginning of period   220,540       84,963  
    Cash and cash equivalents at end of period $ 83,994     $ 65,314  
           

    Key Performance Indicators: Net Sales Summary

      Net Sales
      United States Latin Europe, Middle Asia Total        
    (in millions) & Canada America East & Africa Pacific Water Energy Distribution Other/Elims Consolidated
                       
    Q1 2024 $172.7   $41.3   $52.3   $20.3   $286.6   $62.1   $147.0   ($34.8 ) $460.9  
    Q1 2025 $175.7   $39.5   $51.5   $20.6   $287.3   $66.8   $141.9   ($40.8 ) $455.2  
    Change $3.0   ($1.8 ) ($0.8 ) $0.3   $0.7   $4.7   ($5.1 ) ($6.0 ) ($5.7 )
    % Change   2 %   -4 %   -2 %   1 %   0 %   8 %   -3 %     -1 %
                       
    Foreign currency translation, net * ($1.3 ) ($3.6 ) ($1.2 ) ($1.0 ) ($7.1 ) ($0.2 ) $0.0     ($7.3 )
    % Change   -1 %   -9 %   -2 %   -5 %   -2 %   0 %   0 %     -2 %
                       
    Acquisitions $1.2   $3.1   $0.0   $1.4   $5.7   $0.0   $0.0     $5.7  
    % Change   1 %   8 %   0 %   7 %   2 %   0 %   0 %     1 %
                       
    Volume/Price $3.1   ($1.3 ) $0.4   ($0.1 ) $2.1   $4.9   ($5.1 ) ($6.0 ) ($4.1 )
    % Change   2 %   -3 %   1 %   0 %   1 %   8 %   -3 %   -17 %   -1 %
                       

    *The Company has presented local currency price increases used to offset currency devaluation in the Argentina and Turkey highly inflationary economies within the foreign currency translation, net row above.

    Key Performance Indicators: Operating Income and Margin Summary

    Operating Income and Margins          
    (in millions) For the First Quarter 2025
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 43.4   $ 21.9   $ 2.1   $ (23.3 ) $ 44.1  
    % Operating Income To Net Sales   15.1 %   32.8 %   1.5 %     9.7 %
               
    Operating Income and Margins          
    (in millions) For the First Quarter 2024
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 47.1   $ 18.8   $ 1.8   $ (19.8 ) $ 47.9  
    % Operating Income To Net Sales   16.4 %   30.3 %   1.2 %     10.4 %
               

    The MIL Network

  • MIL-OSI: MoneyHero Group Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • Q4 net loss narrowed sharply to US$(18.8) million
    • Q4 Adjusted EBITDA loss improved to US$(2.9) million

    SINGAPORE, April 29, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (Nasdaq: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the fourth quarter and full year ended December 31, 2024.

    Management Commentary:

    Rohith Murthy, Chief Executive Officer, stated:

    “We closed out 2024 with a robust quarter of financial and operational results, making clear progress on our path towards profitability as we continue to focus on diversifying our revenue mix toward high-margin products, lowering operating expenses, and improving operational efficiency. Net loss narrowed sharply to US$(18.8) million from US$(94.3) million during the same period last year, and Adjusted EBITDA loss during the quarter improved substantially to US$(2.9) million – our best quarterly performance since going public. With registered members and approved applications increasing 42% and 21% year-over-year in 2024, we are confident in our ability to build upon this momentum and regain topline growth momentum with US$100 million in revenue and generate positive adjusted EBITDA on a quarterly basis in the second half of 2025.

    In Q2 2024, we outlined five strategic pillars—Consumer Pull, Conversion Expertise, Operating Leverage, Strong Provider Partnerships, and Insurance Brokerage—and we’ve made meaningful progress across all of these. We launched seamless, end-to-end purchasing journeys in Travel and Car Insurance, substantially streamlined our operating model to create a leaner, lower-cost base, deepened banking partnerships following a major provider’s exit from key markets and significantly accelerated our insurance growth through targeted strategic collaborations.

    These results directly reflect the impact our ‘efficiency’ strategy is having on building a more focused, resilient, and profitable business. We remain the largest credit card digital acquisition partner for the majority of banks across our geographies and are leveraging this strong market position to strategically broaden our focus toward high-margin verticals to improve revenue quality. Insurance revenue grew 40% in 2024 and now accounts for 10% of total revenue while wealth products revenue grew 138%, driven by strong demand for stock and bank account products. These verticals strengthen our margin profile while generating consistent and recurring revenue streams, both of which are key pillars of long-term sustainability. We also laid the foundation for scalable growth by materially lowering operating expenses and improving unit economics with an optimized cost structure across all markets, streamlined operations, and reduced paid marketing and rewards spend.

    Looking ahead to 2025, we will maintain our focus on scaling high-margin verticals, particularly insurance, while continuing to tighten cost controls and simplifying workflows. Our product and tech strategy continues to follow a ‘buy-over-build’ philosophy, enabling faster innovation through strategic partnerships, including new initiatives in AI and automation that are already underway.

    Our commitment to becoming an AI-first organization is already translating into several impactful initiatives across the business. We are actively working on deploying AI-powered customer service tools designed to significantly reduce inquiry volumes and achieve higher first-contact resolution rates. Additionally, we are piloting generative AI solutions to accelerate and scale content production efficiently. Throughout the organization, we are exploring opportunities to automate workflows using advanced AI tools and agentic AI to boost productivity, reduce operational overhead, and enable our teams to focus more strategically.

    With a debt-free balance sheet, US$42.5 million in cash and cash equivalents, and a more efficient and scalable business model, we are well-equipped to capture a greater share of a large and growing addressable market and deliver sustainable, long-term value to shareholders.”

    Danny Leung, interim Chief Financial Officer, added:

    “Our strong results in the fourth quarter demonstrate the effectiveness of our strategy as we continue to make significant strides in the diversification of our revenue mix, expand partnerships with other key providers, and broaden our product offerings. We believe these adjustments position us well for sustained growth, and as providers scale their operations in different regions, we see opportunities to further strengthen our revenue base and deepen our market presence with them.

    This quarter, we remained focused on executing our growth strategy and commenced our comprehensive reorganization and restructuring exercise to streamline operations and reduce costs. Our investments this quarter were squarely focused on customer acquisition, technology re-platforming, and data infrastructure, to build a solid foundation for future growth and profitability. These strategic investments were balanced by initiatives to streamline other aspects of our operations designed to enhance efficiency and drive returns.

    Looking ahead, we expect adjusted EBITDA to consistently improve, building on the significant progress we made during the fourth quarter. With margins steadily improving, we are well-positioned to drive growth momentum heading into 2025, strengthening our confidence to generate positive Adjusted EBITDA on a quarterly basis in the second half of 2025. Our comprehensive review of our organizational structure, completed alongside a successful reorganization this year, has strengthened our operational foundation and set the stage for continued sustainable growth.”

    Fourth Quarter 2024 Financial Highlights

    • Revenue decreased by 40% year-over-year to US$15.7 million in the fourth quarter of 2024, driven primarily by a shift in focus toward diversifying revenue mix toward high-margin products such as insurance and wealth products, and the high base effect set during the same period last year with increased investment in marketing and customer acquisition to expand market share.
      • Revenue from insurance products increased by 10% year-over-year to US$2.1 million in the fourth quarter of 2024, accounting for 14% of total revenue, compared to 7% during the same period last year.
      • Revenue from wealth products increased by 195% year-over-year to US$2.4 million in the fourth quarter of 2024, accounting for 15% of total revenue, compared to 3% during the same period last year.
    • Cost of revenue decreased by 62% year-over-year to US$6.6 million, with advertising and marketing expenses decreasing by 23% year-over-year in the fourth quarter of 2024, as the Company focused on scaling higher margin verticals and optimizing rewards costs associated with the credit cards vertical and paid marketing spend across all markets.
    • Total operating costs and expenses, excluding net foreign exchange differences, decreased to US$25.2 million in the fourth quarter of 2024 from US$45.6 million during the same period last year. Operating costs and expenses in the fourth quarter of 2023 included significant transaction costs associated with the listing as well as certain write-offs of intangible assets which are further detailed in the adjusted EBITDA reconciliation below.
    • Foreign exchange loss of US$8.9 million in the fourth quarter of 2024 was driven by the weakening of local currencies against the US dollar from end September 2024 to end December 2024.
    • Net loss for the period narrowed sharply to US$(18.8) million during the fourth quarter of 2024, compared to US$(94.3) million in the same period last year, primarily due to non-operating expenses including share-based payments to effect the merger with Bridgetown Holdings and finance costs.
    • Adjusted EBITDA loss improved to US$(2.9) million in the fourth quarter of 2024 from US$(4.6) million in the prior year period.

    Full Year 2024 Financial Highlights

    • Revenue decreased by 1% year-over-year to US$79.5 million for the full year 2024, driven primarily by a shift in focus toward profitability by diversifying revenue mix toward high-margin products starting in the second half of 2024.
      • Revenue from insurance products increased by 40% year-over-year to US$8.2 million for the year 2024, accounting for 10% of total revenue, compared to 7% in the prior year.
      • Revenue from wealth products increased by 138% year-over-year to US$8.5 million for the year 2024, fueled by growth of stock account and bank account verticals.
    • Total operating costs and expenses, excluding net foreign exchange differences, increased by 3% year-over-year to US$114.9 million for the year 2024, primarily due to higher advertising and marketing expenses.
    • Net loss for the full year 2024 narrowed sharply to US$(37.8) million from US$(172.6) million in the prior year. Net loss for the full year 2023 includes US$143.4 million in non-operating expenses associated with share-based payments to effect the merger with Bridgetown Holdings, finance costs and changes in fair value of financial instruments.
    • Adjusted EBITDA loss was US$(23.7) million for the full year 2024, compared to US$(6.8) million in the prior year, largely attributable to strategic investments in marketing and customer acquisition during the first half of the year as well as increased operating costs associated with being a public company.
    • As of December 31, 2024, the Company had a debt-free balance sheet with US$42.5 million in cash and cash equivalents.

    Fourth Quarter and Full Year 2024 Operational Highlights

    • Monthly Unique Users for the three months ended December 31, 2024 of 6.2 million
    • MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 42% year-over-year to 7.5 million as of December 31, 2024
    • Approved Application volumes increased by 21% year-over-year in 2024 to 767,000, driven by strong growth in the Company’s insurance products

    Capital Structure

    The table below summarizes the capital structure of the Company as of December 31, 2024:

    Share Class Issued and Outstanding
    Class A Ordinary 28,653,4671
    Class B Ordinary 13,254,838
    Preference Shares 2,407,575
    Total Issued Shares 44,315,880
    Employee Equity Options 690,0552
    Issued Class A Ordinary Shares Underlying Employee Equity Options (690,055)3
    Total Issued and Issuable Shares4 44,315,880

    ______________________________
    1 Includes 690,055 shares issued to Computershare Hong Kong Investor Services Limited (“Computershare”) which are held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.
    2 Includes granted but unexercised options as well as exercised options, pursuant to which the shares have not yet been issued as of December 31, 2024.
    3 Issued in advance to Computershare and held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.
    4 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money.

    Summary of financial / KPI performance

      For the Three Months Ended December 31,   For the Full Year Ended December 31,
      2024   2023     2024   2023  
      (US$ in thousands, unless otherwise noted)
    Revenue 15,723   26,397     79,511   80,671  
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
               
    Clicks (in thousands)5 2,222   N/A     N/A   N/A  
    Applications (in thousands)6 363   504     1,779   1,713  
    Approved Applications (in thousands)6 172   204     767   636  

    ______________________________
    5 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable click data for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
    6 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable.

    Revenue breakdown

      For the Three Months Ended
    December 31,
      For the Year Ended December 31,
      2024   2023       2024   2023  
      US$ % US$ %   US$ % US$ %
      (US$ in thousands, except for percentages)
    By Geographical Market:                  
    Singapore 5,060 32.2 12,111   45.9     30,890 38.9 32,070 39.8
    Hong Kong 7,386 47.0 8,390   31.8     30,443 38.3 26,947 33.4
    Taiwan 1,296 8.2 1,967   7.5     5,137 6.5 6,743 8.4
    Philippines 1,977 12.6 3,887   14.7     12,844 16.2 14,169 17.6
    Malaysia 5 0.0 43   0.2     197 0.2 738 0.9
    Other Asia 0 0.0 (0 ) (0.0 )   0 0.0 4 0.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0
                       
    By Source:                  
    Online financial comparison platforms 13,594 86.5 21,831   82.7     66,815 84.0 66,926 83.0
    Creatory 2,129 13.5 4,566   17.3     12,696 16.0 13,746 17.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0
                       
    By Vertical:                  
    Credit cards 7,559 48.1 19,976   75.7     48,958 61.6 60,258 74.7
    Personal loans and mortgages 3,373 21.5 3,487   13.2     12,185 15.3 10,166 12.6
    Wealth 2,397 15.2 813   3.1     8,504 10.7 3,580 4.4
    Insurance 2,125 13.5 1,928   7.3     8,181 10.3 5,853 7.3
    Other verticals 269 1.7 193   0.7     1,683 2.1 814 1.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0


    Key Metrics

      For the Three Months Ended
    December 31, 2024
     
      (in millions, except for percentages)
    Monthly Unique Users7,8      
    Singapore 1.4 23.1 %  
    Hong Kong 1.1 17.2 %  
    Taiwan 1.7 28.2 %  
    Philippines 1.9 31.5 %  
    Total 6.2 100.0 %  
           
    Total Traffic7,8      
    Singapore 3.1 16.6 %  
    Hong Kong 3.5 19.0 %  
    Taiwan 5.7 30.7 %  
    Philippines 6.3 33.7 %  
    Total 18.6 100.0 %  
     
       
             
       
             
                 
                 
                 
                 
                 
                 
      As of December 31,
       
             
       
             
                 
                 
                 
                 
                 
                 
      2024   2023  
       
             
       
             
                 
                 
                 
                 
                 
                 
      (in millions, except for percentages)
       
             
       
             
                 
                 
                 
                 
                 
                 
    MoneyHero Group Members8        
       
             
       
             
                 
                 
                 
                 
                 
                 
    Singapore 1.3 17.7 % 1.2 22.1 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Hong Kong 0.9 11.5 % 0.7 13.0 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Taiwan 0.4 4.8 % 0.3 4.8 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Philippines 5.0 66.1 % 2.9 55.3 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Malaysia 0.0 0.0 % 0.3 4.8 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Total 7.5 100.0 % 5.3 100.0 %

    _____________________________
    7 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable monthly unique users and total traffic for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
    8 Malaysia’s ‘CompareHero’ brand was acquired by Jirnexu Sdn. Bhd in July 2024.

    Conference Call Details

    The Company will host a conference call and webcast on Tuesday, April 29, 2025, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company’s financial results. The MoneyHero Limited (NASDAQ: MNY) Q4 and FY 2024 Earnings call can be accessed by registering at:

    Webcast: https://edge.media-server.com/mmc/p/g36exn6g/
    Conference call: https://register-conf.media-server.com/register/BI63a8f286c9b74092aff58fc8eb219749

    The webcast replay will be available on the Investor Relations website for 12 months following the event.

    About MoneyHero Group
    MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 290 commercial partner relationships as at December 31, 2024, and had approximately 6.2 million Monthly Unique Users across its platform for the three months ended December 31, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.

    Key Performance Metrics and Non-IFRS Financial Measures

    Historically, we utilized data from Universal Analytics (“UA”), Google’s analytics platform, to measure three key business metrics: monthly unique users, traffic, and clicks. Effective July 1, 2024, Google Analytics 4 (“GA4”) replaced UA. The methodologies used in GA4 are different and not comparable to the methodologies used in UA. While Google has provided some guidance on these differences, Google has not made available sufficient information for us to assess the impact (whether positive or negative) of this transition on our key business metrics, nor can we quantify the extent of such impact. Furthermore, due to the adoption of GA4, we have adjusted our definitions of these key business metrics to enhance accuracy and align them more closely with previous definitions under UA. Therefore, we are unable to provide comparable data for monthly unique user, traffic, and clicks for any periods prior to July 1, 2024.

    “Monthly Unique User” means as a unique user with at least one session in a given month as determined by a unique device identifier from GA4. A session begins when a user opens an app in the foreground or views a page or screen while no other session is currently active (e.g., the prior session has ended). A session concludes after 30 minutes of user inactivity. To measure Monthly Unique Users over a period longer than one month, we calculate the average of the Monthly Unique Users for each month within that period. If an individual accesses a website or app from different devices within a given month, each device is counted as a separate unique user. However, if an individual logs in and accesses a website or app using the same login across different devices, they will only be counted as one unique user.

    “Traffic” means the total number of unique sessions in GA4. A unique session is a group of user interactions recorded when a user accesses a website or app within a 30-minute window. The current session concludes when there is 30 minutes of inactivity or users have a change in traffic source.

    “MoneyHero Group Members” means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated.

    “Clicks” means the sum of unique clicks by product item on a tagged “Apply Now” button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates.

    “Applications” means the total number of product applications submitted by users and confirmed by our commercial partners.

    “Approved Applications” means the number of applications that have been approved and confirmed by our commercial partners.

    In addition to MoneyHero Group’s results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as profit/(loss) for the year/period and profit/(loss) before income tax.

    Adjusted EBITDA is a non-IFRS financial measure defined as loss for the year plus depreciation and amortization, interest income, finance costs, income tax expenses/(credit), impairments of non-financial assets, equity-settled share-based payment expenses, other long-term employee benefits expense/(credit), non-recurring costs related to strategic exercises, gain on disposal of Malaysian operations, transaction expenses, changes in the fair value of financial instruments, non-recurring legal fees, gain on derecognition of convertible loan and bridge loan and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue.

    A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP.

      For the Three Months Ended December 31,   For the Year Ended December 31,
      2024   2023     2024   2023  
      (US$ in thousands)
    Loss for the period (18,756 ) (94,296 )   (37,787 ) (172,601 )
    Tax expenses 19   3     109   63  
    Depreciation and amortization 893   3,563     4,043   7,165  
    Interest income (239 ) (679 )   (1,478 ) (873 )
    Finance costs 8   13,657     25   19,028  
               
    EBITDA (18,075 ) (77,752 )   (35,088 ) (147,217 )
               
    Non-cash items:          
    Changes in fair value of financial instruments 526   (123 )   (447 ) 57,333  
    Impairment of intangible assets 4,466   3,106     4,541   3,106  
    Equity settled share-based payment arising from employee share incentive scheme 1,631   5,653     3,179   6,629  
    Unrealized foreign exchange loss/(gain), net 8,523   (4,763 )   4,197   (895 )
               
    Listing and other non-recurring strategic exercises related items:        
    Share-based payment arising from listing   67,027       67,027  
    Equity settled share-based payment arising from professional services in relation to listing   500       500  
    Transaction expenses 0   1,739     29   6,643  
    Gain on disposal of Malaysian operations 0       (600 )  
    Other non-recurring costs related to strategic exercises   (0 )   61   1  
               
    Other non-recurring items:          
    Other long-term employee benefits expense/(credit)   0       110  
    Non-recurring legal fees 7       462   0  
               
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
               
    Revenue 15,723   26,397     79,511   80,671  
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
    Adjusted EBITDA Margin (18.6 )% (17.5 )%   (29.8 )% (8.4 )%
     

    Forward Looking Statements

    This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

    For inquiries, please contact:

    Investor Relations:
    MoneyHero IR Team
    IR@MoneyHeroGroup.com

    Media Relations:
    MoneyHero PR Team
    Press@MoneyHeroGroup.com

    Consolidated Statements of Loss and Other Comprehensive Income

      For the Three Months Ended
    December 31,
      For the Year Ended
    December 31,
      2024   2023     2024   2023  
      (US$ in thousands except for loss per share)
    Revenue 15,723   26,397     79,511   80,671  
               
    Cost and expenses:          
    Cost of revenue (6,603 ) (17,601 )   (46,180 ) (43,930 )
    Advertising and marketing expenses (3,954 ) (5,111 )   (21,619 ) (16,245 )
    Technology costs (1,397 ) (4,451 )   (7,427 ) (9,522 )
    Employee benefit expenses (5,837 ) (10,585 )   (24,151 ) (24,931 )
    General, administrative and other operating expenses (7,454 ) (7,863 )   (15,543 ) (16,725 )
    Foreign exchange differences, net (8,921 ) 4,802     (4,783 ) 657  
               
    Operating loss (18,444 ) (14,411 )   (40,192 ) (30,026 )
               
    Other income/(expenses):          
    Other income 241   679     2,092   878  
    Share-based payment on listing   (67,027 )     (67,027 )
    Finance costs (8 ) (13,657 )   (25 ) (19,028 )
    Changes in fair value of financial instruments (526 ) 123     447   (57,333 )
               
    Loss before income tax (18,737 ) (94,293 )   (37,678 ) (172,538 )
    Tax expenses (19 ) (3 )   (109 ) (63 )
    Loss for the period (18,756 ) (94,296 )   (37,787 ) (172,601 )
    Other comprehensive income/(loss)          
    Other comprehensive income/(loss) that may be classified to profit or loss in subsequent periods (net of tax):          
    Exchange differences on translation of foreign operations 8,071   (4,098 )   3,738   (820 )
    Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods (net of tax):          
    Remeasurement of defined benefit plan 8   (9 )   12   (30 )
    Other comprehensive income/(loss), net of tax 8,079   (4,107 )   3,750   (850 )
               
    Total comprehensive loss, net of tax (10,677 ) (98,403 )   (34,037 ) (173,451 )
               
    Loss per share attributable to ordinary equity holders of the parent    
    Basic and diluted (0.5 ) (2.8 )   (0.9 ) (17.9 )
     

    Consolidated Statements of Financial Position

      As of December 31,
    (US$ in thousands) 2024 2023
         
    NON-CURRENT ASSETS    
    Non-current financial asset 600
    Intangible assets 1,018 7,294
    Property and equipment 215 190
    Right-of-use assets 744 590
    Deposits 25 26
         
    Total non-current assets 2,601 8,100
         
    CURRENT ASSETS    
    Accounts receivable 13,538 17,236
    Contract assets 11,825 16,025
    Prepayments and other assets 9,041 4,855
    Tax recoverable 63 0
    Pledged bank deposits 185 189
    Cash and cash equivalents 42,522 68,641
         
    Total current assets 77,174 106,947
         
    CURRENT LIABILITIES    
    Income tax payable 32
    Accounts and other payables 29,101 33,222
    Warrant liabilities 1,393 1,840
    Lease liabilities 442 575
    Provisions 71 72
         
    Total current liabilities 31,039 35,708
         
    NET CURRENT ASSETS 46,135 71,239
    TOTAL ASSETS LESS CURRENT LIABILITIES 48,736 79,339
         
    NON-CURRENT LIABILITIES    
    Lease liabilities 294 31
    Deferred tax liabilities 30 29
    Provisions 185 194
         
    Total non-current liabilities 509 255
         
    Net assets 48,227 79,084
         
    EQUITY    
    Issued capital 4 4
    Reserves 48,223 79,080
         
    Total equity 48,227 79,084

    The MIL Network

  • MIL-OSI Economics: Catch the Replay: 10 U.S. Public Schools. 1 Impactful STEM Competition. 3 National Winners.

    Source: Samsung

    Relive the excitement as Samsung Electronics America hosted the final round of its 15th annual Samsung Solve for Tomorrow competition on April 28, 2025 at Samsung DC in the heart of our nation’s capital. Ten National Finalist teams—each already awarded a $50,000 prize package of Samsung technology and classroom supplies—took the stage to pitch their groundbreaking STEM (Science, Technology, Engineering, and Mathematics) solutions to community challenges. But only three emerged as National Winners, each securing a $100,000 prize package for their schools—part of more than $2 million in prizes up for grabs.
    Revisit the big moments —watch the livestream replay right here:
    National Finalists Pitch Event: Monday, April 28, 2025 |9:00 a.m. – 11:30 a.m. ET
    National Winners Reveal Event: Monday, April 28, 2025 | 5:30 p.m. – 7:00 p.m. ET

    National Finalists Pitch Event
    Celebrating its 15th year, Samsung Solve for Tomorrow empowers public school students in grades 6-12 to apply STEM skills to tackle real-world problems and drive positive change in their communities. Representing the very best from this year’s competition, the 10 student teams—hailing from middle and high schools in Alaska, Arkansas, Colorado, Connecticut, Delaware, Indiana, Louisiana, Minnesota, Nevada, and Wyoming—presented their groundbreaking STEM solutions at a live morning pitch event on April 28. These Gen Z and Gen Alpha student innovators have created game-changing solutions to tackle challenges such as healthcare access, accessibility in sports, gaming, and music, climate-driven heat disparities, youth mental health, and more—demonstrating the power of STEM to drive real-world impact.
    Their projects, developed using cutting-edge technologies like artificial intelligence (AI), machine learning (ML), 3D modeling and printing, the Internet of Things (IoT), and robotics, were evaluated by a panel of esteemed judges, including Charlotte Dungan, Chief Learning Officer at the Mark Cuban Foundation; Enobong Etteh, YouTube Creator; Hope King, Macro Talk News Founder and Axios Contributor; Rameen Rana, Investor at Samsung NEXT; and Renzo Villavicencio, Vice President of Process Innovation & Procurement at Samsung Electronics America. Kicking off the event, Alix Guerrier, CEO of DonorsChoose—the leading education nonprofit for teachers and a long-time Solve for Tomorrow partner—delivered the opening remarks.

    National Winners Reveal Event
    Evening festivities kicked off with an inspiring keynote from Gitanjali Rao, a 19-year-old MIT sophomore, innovator, author, and changemaker. Named TIME’s Kid of the Year and a UNICEF Youth Advocate, Gitanjali has been recognized globally for her groundbreaking work in STEM taking on issues ranging from contaminated drinking water to opioid addiction and cyberbullying. With accolades like Forbes 30 Under 30, America’s Top Young Scientist, Stephen Hawking Medal Junior for Science Communications, and the Muhammad Ali Humanitarian Award, she embodies the next generation of problem-solvers harnessing technology for good.
    Following the keynote, the “AI for Good: Empowering the Next Generation of Problem-Solvers” panel explored how AI can drive positive impact while addressing key challenges like bias, energy consumption, and ethical responsibility. Moderated by Allison Stransky, CMO of Samsung Electronics America, the panel featured Charlotte Dungan from the Mark Cuban Foundation, Paul Kim, Vice President of Corporate Strategy at Samsung Electronics America, and Jordan Harrod, AI Strategist and Ph.D. Candidate in Medical Engineering and Medical Physics at the Harvard-MIT Health Sciences and Technology program.

    MIL OSI Economics

  • MIL-OSI Economics: Secretary-General of ASEAN attends Halalbihalal 2025 at the ASEAN Headquarters/ASEAN Secretariat

    Source: ASEAN

    Secretary-General of the ASEAN, Dr. Kao Kim Hourn, today attended the Halalbihalal 2025, organized by the Staff Welfare Committee (SWC) 2025 of the ASEAN Secretariat. In his remarks, SG Dr. Kao extended his heartfelt greetings to all ASEAN Secretariat staff members on the occasion of the recent festive celebrations and warmly congratulated the newly elected members of SWC 2025. He further commended the SWC’s ongoing efforts and urged the committee to continue organising meaningful social events and initiatives that foster a strong organisational culture and enhance unity and the spirit of cooperation, friendship and teamwork among the ASEAN Secretariat’s staff members.

    The post Secretary-General of ASEAN attends Halalbihalal 2025 at the ASEAN Headquarters/ASEAN Secretariat appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI: Best Online Casinos Australia: 7Bit Casino Ranked Top Choice for Aussie Players in 2025

    Source: GlobeNewswire (MIL-OSI)

    PERTH, Australia, April 29, 2025 (GLOBE NEWSWIRE) — After trying out tons of online casinos in Australia, most just didn’t live up to the hype, especially when it came to bonuses. While chatting with a few local players, one name kept coming up: 7Bit casino. So, we decided to check it out. Right from the start, it felt like a different experience. The welcome offer was massive, that is up to 10,800 AUD plus 250 free spins. With thousands of slots, live dealer games, and smooth crypto payments, 7Bit stood out as something special.

    <>

    7Bit Casino : Our Favourite Overall Casino

    7Bit Casino, licensed by Curacao eGaming, offers a modern, user-friendly interface with vibrant graphics and seamless navigation. Its game library exceeds 10,000 titles, including Australian online pokies, table games, and live dealer options with high RTPs. The casino supports both fiat and crypto payments, with fast withdrawals via PayID and Bitcoin, positioning it as a top PayID casino.

    The mobile platform mirrors the desktop experience, ensuring players can enjoy online pokies for real money on the go. 24/7 live chat provides prompt support, and SSL encryption with a provably fair system enhances security, though third-party audits like eCogra are absent. Responsible gambling tools, such as deposit limits and self-exclusion, are available to promote safe play.

    7Bit Casino earns our top spot for its unmatched game variety, generous bonuses, and Aussie-friendly features. With thousands of online pokies real money options, a 10,800 AUD + 250 free spins welcome bonus, and fast PayID transactions, it’s a standout PayID casino. The platform’s mobile optimization, robust security, and 24/7 support make it ideal for players seeking online blackjack real money or real money pokies Australia.

    Regular promotions, tournaments, and a rewarding VIP program further elevate its appeal, ensuring a thrilling and reliable gaming experience.

    What Makes 7Bit Casino The Best Online Casino Australia

    7Bit Casino is a top choice for Australian players, offering a massive selection of over 10,000 games, including crowd-favorite pokies like Mega Moolah and Johnny Cash, plus table and live dealer options. High RTP slots and a generous welcome package – up to 10,800 AUD + 250 free spins make it especially appealing. Players also get 75 no-deposit free spins (code: 75BIT), weekly cashback, reload bonuses, and exclusive Telegram deals.

    With fast PayID and crypto withdrawals, 24/7 live chat, and a mobile-friendly design for iOS and Android, 7Bit makes playing on the go easy. Licensed in Curacao and active for over a decade, it offers a trusted, secure environment. The VIP program adds value with cashback, faster payouts, and exclusive rewards, while regular tournaments keep things exciting. For real money pokies in Australia, 7Bit blends variety, speed, and player perks perfectly.

    How to Join 7Bit Best Online Casino Australia

    Joining 7Bit Casino is straightforward and designed for quick access to the best online casinos in Australia:

    1. Visit 7Bit Casino. Click Here to Directly Visit 7Bit Casino’s Official Website
    2. Click “Sign Up” on the homepage.
    3. Enter your name, email, date of birth, and create a username/password.
    4. Verify your email if prompted.
    5. Log in, deposit using PayID or crypto, and claim the welcome bonus.

    The process takes about a minute, and players instantly join the VIP program, unlocking perks like cashback and exclusive bonuses for real money pokies in Australia.

    How We Selected 7Bit as the Best Online Casino in Australia

    We evaluated 7Bit Casino based on rigorous criteria to ensure it meets the needs of Aussie players:

    License and Security

    7Bit holds a Curacao eGaming license, ensuring regulatory oversight. SSL encryption protects player data, and a provably fair system allows game fairness verification. While no eCogra audits are noted, the license and security measures provide a solid foundation of trust for online pokies real money players.

    Bonuses and Promotions

    The welcome package offers 325% up to 10800 AUD + 250 FS

    • 1st Deposit Bonus: 100% up to 800 AUD + 100 FS
    • 2nd Deposit Bonus: 75% up to 1200 AUD + 100 FS
    • 3rd Deposit Bonus: 50% up to 800 AUD
    • 4th Deposit Bonus: 100% up to 8000 AUD + 50 FS

    A payid pokies Australia no deposit bonus of 75 free spins (code ‘75BIT’, x45 wagering, €50 max cashout) is available. Weekly cashback, reload bonuses, and Telegram-exclusive offers keep players engaged, making it a top choice for online pokies Australia payid enthusiasts.

    << CLAIM 325% UP TO 10800 AUD + 250 FS AND MORE – SIGN UP NOW!>>

    Casino Games

    With over 10,000 games, 7Bit offers online pokies real money, table games, and live dealer options. High-RTP titles like Mega Moolah are favorites among the best online casino Australia players, ensuring diverse and rewarding gameplay.

    Casino Game ProvidersOur Favourite Overall Casino

    Partners include industry leaders like NetEnt, Microgaming, Play’n GO, and Evolution Gaming, ensuring high-quality, fair games for Australian online pokies and online blackjack players.

    Banking Methods

    Supports VISA, Mastercard, Neosurf, Skrill, PayID, and cryptocurrencies like Bitcoin and Ethereum. PayID is ideal for Aussies, offering fast transactions for the best online casino in Australia.

    Customer Support

    24/7 live chat responds within seconds, email support is slower, and no phone support is available. A detailed FAQ section addresses common queries, enhancing the experience for best online casinos in Australia.

    The Selection Process: Defining Excellence in Online Gaming

    • Screening: Verify licensing and reputation to ensure trust.
    • Game Evaluation: Assess variety, quality, and provider reputation.
    • Bonus Analysis: Check value, terms, and wagering requirements.
    • Payment Review: Test speed, security, and options like PayID.
    • Support Testing: Evaluate response times and effectiveness.
    • Mobile Testing: Ensure compatibility for online pokies real money on smartphones.
    • Security Check: Confirm encryption and fairness systems.
    • Player Feedback: Analyze reviews for real-world insights.
    • Scoring: Rank based on weighted criteria to identify top PayID casino options.

    Pros and Cons of 7Bit Online Casino

    Pros Cons
    Over 10,000 games, including real money pokies High wagering requirements on bonuses
    Welcome bonus: 10,800 AUD + 250 FS No phone support
    Fast PayID and crypto withdrawals No third-party audits (e.g., eCogra)
    24/7 live chat support  
    Mobile-friendly platform  
    Curacao license and SSL encryption  
    Responsible gambling tools  


    Explore the Best Online Pokies and Casino Games at 7Bit Casino

    7Bit’s 10,000+ games provide a thrilling experience for real money pokies Australia players and beyond:

    1. Pokies (Slots)

    7Bit is a haven for online pokies Australia players, offering thousands of titles from classic three-reel slots to modern video slots with immersive graphics and features. Popular titles include:

    • Mega Moolah: Renowned for its massive progressive jackpots, offering life-changing wins.
    • Johnny Cash: A music-themed slot with free spins and engaging bonus rounds.
    • Elvis Frog in Vegas: High-RTP slot with vibrant visuals and sticky wilds.
    • Wild Spin: Packed with wild features and big win potential.
    • Raging Lion: A safari-themed slot with dynamic gameplay and multipliers.
    • Book of Dead: An adventure-themed slot with expanding symbols and high volatility.

    These real money pokies are ideal for players seeking thrilling online pokies real money experiences, with demo modes available for practice.

    2. Table Games

    Traditional casino games offer strategic depth:

    • Blackjack: Variants like Classic, European, and Multi-Hand cater to all skill levels.
    • Roulette: European, American, and French options provide diverse betting opportunities.
    • Baccarat: A simple yet rewarding card game with a low house edge.
    • Poker: Video poker titles like Jacks or Better and Deuces Wild for solo play.

    These games complement Australian online pokies for players seeking variety.

    3. Live Dealer Games

    Powered by Evolution Gaming, live dealer games deliver an authentic casino experience:

    • Live Blackjack: Real-time interaction with professional dealers, ideal for online blackjack in Australia.
    • Live Roulette: Authentic wheel-spinning action with multiple camera angles.
    • Live Baccarat: Play against the banker in a high-stakes environment.

    High-quality streaming ensures immersion for online blackjack real money players.

    4. Instant Win Games

    Quick-play options for fast entertainment:

    • Scratch Cards: Virtual lottery-style games with instant payouts.
    • Keno: Number-picking for quick wins, offering simplicity and excitement.

    These are perfect for players taking a break from real money pokies Australia.

    5. Virtual Sports

    Simulated events like football, horse racing, and greyhound racing offer betting opportunities with realistic graphics and outcomes, providing an alternative to online pokies Australia.

    6. Craps

    7Bit does not offer Craps, which may disappoint dice game enthusiasts. However, alternatives like Sic Bo provide similar dice-based excitement with varied betting options, fast-paced gameplay, and high payout potential. Players can also explore table games like roulette or online blackjack for real money for comparable thrills, ensuring a diverse gaming experience alongside real money pokies.

    7. Poker

    7Bit offers a robust poker selection for all skill levels:

    • Video Poker: Popular titles like Jacks or Better, Deuces Wild, Aces and Faces, and Joker Poker for solo play with high RTPs.
    • Live Poker: Casino Hold’em, Three Card Poker, and Caribbean Stud Poker via live dealer, offering real-time competition against the dealer.
    • Virtual Poker: Texas Hold’em and Omaha variants for strategic gameplay, perfect for honing skills.

    These options cater to both casual players and seasoned pros seeking alternatives to online pokies real money.

    8. Roulette

    Roulette options provide diverse betting opportunities:

    • European Roulette: Single zero for better odds, popular among strategic players.
    • American Roulette: Double zero increases house edge, adding challenge.
    • French Roulette: Features La Partage and En Prison rules for reduced losses.
    • Live Roulette: Lightning Roulette adds random multipliers for bigger wins, enhancing excitement.

    These games are ideal for players who enjoy strategic betting alongside real money pokies in Australia.

    9. Blackjack

    Blackjack variants offer variety for online blackjack Australia fans:

    • Classic Blackjack: Standard rules for beginners, with a low house edge.
    • European Blackjack: Restricts doubling after splitting, adding strategy.
    • Multi-Hand Blackjack: Play up to five hands at once for higher stakes.
    • Live Blackjack: Real-time games with professional dealers, perfect for online blackjack real money enthusiasts.
    • Blackjack Switch: Allows swapping cards between hands for unique gameplay.

    These options ensure a thrilling experience for players seeking online blackjack real money.

    <>

    Payment Options Available At The Best Online Casinos in Australia

    • Fiat Currency
    Method Deposit Withdrawal Processing Time
    VISA/Mastercard Yes No N/A
    Neosurf Yes No N/A
    Skrill Yes Yes Instant
    Interac Yes Yes Instant
    Neteller Yes Yes Instant
    Paysafe Card Yes No N/A
    PayID Yes Yes 1-24 hours
    Bank Transfer Yes Yes 3-7 days
    • Cryptocurrency
         
    Method Deposit Withdrawal Processing Time
    Bitcoin Yes Yes <1 hour
    Litecoin Yes Yes <1 hour
    Binance Coin Yes Yes <1 hour
    Ethereum Yes Yes <1 hour
    Dogecoin Yes Yes <1 hour

    PayID and crypto are the fastest, ideal for online pokies Australia payid users, while bank transfers are slower but reliable.

    The Most Popular Pay-out Methods at 7Bit Casino

    • Cryptocurrencies: Bitcoin, Ethereum, and Litecoin for speed and anonymity.
    • PayID: Fast, Aussie-friendly for online pokies Australia payid users.
    • E-Wallets: Skrill and Neteller for instant withdrawals.
    • Bank Transfers: Slower but reliable for larger transactions.

    PayID and crypto are preferred for their speed, making them ideal for PayID casino players.

    VIP Program at 7Bit Casino

    7Bit’s VIP program rewards loyal players with exclusive bonuses, personalized support, and up to 20% cashback. Higher levels offer faster withdrawals, special gifts, and dedicated account managers. Players earn points through wagering on real money pokies in Australia, unlocking perks like free spins and tournament entries. The program enhances the experience for PayID casino users, adding value to every bet.

    Final Thoughts About the Best Online Casino in Australia

    7Bit Casino is likely the top choice for Aussie players in 2025, offering a vast game selection, generous bonuses, and fast PayID withdrawals. Despite minor drawbacks like high wagering requirements and no phone support, its strengths in game variety, mobile compatibility, and player-focused features make it a standout PayID casino.

    Whether you’re spinning online pokies Australia or playing online blackjack real money, 7Bit delivers a thrilling and reliable experience.

    >>PLAY AT 7BIT CASINO – AUSTRALIA’S TOP PAY ID CHOICE FOR 2025!<<

    Frequently Asked Questions About The Best Online Casinos Australia

    1. Is 7Bit Casino legal in Australia?
      7Bit is licensed by Curacao, making it accessible to Australian players. However, online gambling laws vary by state, so players should verify local regulations to ensure compliance before playing real money pokies Australia or other games.
    2. What payment methods are accepted?
      7Bit supports VISA, Mastercard, Neosurf, Skrill, PayID, Bitcoin, Ethereum, Litecoin, and more. PayID and cryptocurrencies are the fastest, ideal for online pokies Australia payid users, offering secure and efficient transactions for PayID casino players.
    3. How long do withdrawals take?
      Cryptocurrency withdrawals process in under an hour, PayID takes 1-24 hours, and e-wallets like Skrill are instant. Bank transfers can take 3-7 days, depending on the bank, making PayID and crypto preferred for real money pokies Australia players.
    4. What’s the welcome bonus?
      7Bit offers up to 10,800 AUD + 250 free spins across four deposits, plus a payid pokies australia no deposit bonus of 75 free spins (code ‘75BIT’, x45 wagering). This package is ideal for new players exploring online pokies with real money and other games.
    5. Is mobile gaming available?
      7Bit’s mobile platform is fully optimized for iOS and Android, mirroring the desktop experience. Players can enjoy online pokies Australia, online blackjack real money, and live dealer games on the go with seamless performance and intuitive navigation.

    EMAIL: Support@7bitCasino.com

    Disclaimers and Affiliate Disclosure

    General Disclaimer
    This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of April 24, 2025. No warranties are made, and users must verify information before acting.

    Casino and Gambling Disclaimer
    Online gambling carries risks and isn’t suitable for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure
    This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products. Do your own research before signing up or playing real money pokies in Australia.

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e955b95c-b051-4108-9d06-23bb3d13cbcd

    The MIL Network

  • MIL-OSI Asia-Pac: Briefing on healthcare charges held

    Source: Hong Kong Information Services

    The Health Bureau, together with the Hospital Authority, today held the first District Council (DC) briefing on reforms to public healthcare fees and charges, explaining these to more than 200 DC members and local people.

    Secretary for Health Prof Lo Chung-mau said the reforms will enhance healthcare protection for “poor, acute, serious, critical patients”, rationalise subsidy levels for public hospital services, and reduce wastage and abuse, while enhancing the overall sustainability of the public healthcare system.

    He added: “Through this briefing, we hope to elaborate details of the reform to DC members, and leverage the role of DCs as a bridge to help members of the public better understand that the reform is pursued for their benefits.”

    The authority’s Deputising Chief Executive Dr Simon Tang highlighted three key measures aimed at strengthening healthcare protection, namely enhancing the medical fee waiver mechanism, introducing an annual cap of $10,000 for public healthcare fees and charges, and optimising the application and subsidisation of innovative drugs and medical devices.

    Since the announcement of the reforms, the bureau and authority have been working to explain them to the Legislative Council, members of the public, and stakeholders across various sectors.

    A means test calculator has been launched on the authority’s website and on its mobile app, “HA Go”, allowing users to input information on their household income and assets to view a preliminary assessment of their eligibility for the enhanced medical fee waiver and the Samaritan Fund.

    The new fees and charges will take effect on January 1 next year. The bureau and the authority will organise another DC briefing next week.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Entries invited for state tech awards

    Source: Hong Kong Information Services

    The Innovation & Technology Commission today invited people in Hong Kong with significant achievements in science and technology to submit entries for the State Technological Invention Award and the State Scientific & Technological Progress Award.

    Both are award categories under the State Science & Technology Awards. The commission is entrusted by the National Office for Science & Technology Awards to co-ordinate nominations from Hong Kong for the two awards.

    The awards, which are highly prestigious in the national science and technology sector, recognise outstanding contributions to science and technology advancement by individuals and organisations, the commission said.

    They also stimulate the enthusiasm and creativity of those working in science and technology, and aim to build an innovative and world-leading scientific and technological country, it added.

    Eligible local scientists and technologists are encouraged to submit entries on or before May 26.

    Call 3855 7641 or email the Innovation & Technology Commission for enquiries.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: 2025 Commencement Speakers and Honorary Degree Recipients

    Source: US State of Connecticut

    From business success to the National Science Foundation, from policymaking in Hartford to the world’s most popular YouTube sneaker channel, from the Chairman of the Mashantucket Pequot Tribal Nation to the President of the Rwanda Academy of Sciences, the honored guests of UConn’s commencement ceremonies bring a wealth of experience, insight, and wisdom to share with this year’s graduates. Speakers at the ceremonies, which begin on Saturday, May 10, include:

    College of Engineering (Saturday, May 10, 9 a.m. at Gampel Pavilion): Mark P. Sarkisian ’83

    Mark Sarkisian is a partner in the San Francisco office of Skidmore, Owings & Merrill LLP. He is a licensed professional engineer and structural engineer in 31 states. In 2021, Sarkisian was elected to the National Academy of Engineering, and is a member of the University of Connecticut Academy of Distinguished Engineers. He received his bachelor’s degree in civil engineering from UConn in 1983, and his master’s degree in structural engineering from Lehigh University. Sarkisian’s career focuses on developing innovative structural engineering solutions for over 100 major building projects around the world, including the Jin Mao Tower in China and the Al Hamra Fidrous Tower in Kuwait, both over 1,300 feet[1]tall. Sarkisian holds 10 U.S. patents and five international patents. Sarkisian has authored over 150 technical papers related to the design of building structures, and in 2012 completed his first book, “Designing Tall Buildings – Structure as Architecture.” He teaches integrated studio design courses focused on collaborative design opportunities at the University of California, Berkeley; California College of the Arts; Stanford University; California Polytechnic State University; Northeastern University; North Carolina State University; and the Pratt Institute.

    School of Nursing (Saturday, May 10, 9 a.m. at Jorgensen Center for the Performing Arts): Joan Y. Reede

    Dr. Joan Y. Reede was appointed as Harvard Medical School’s (HMS) first Dean for Diversity and Community Partnership in January of 2002, and has been responsible for the development and management of a comprehensive program that has provided leadership, guidance, and support to promote the increased recruitment, retention, and advancement of diverse faculty, particularly individuals from groups underrepresented in medicine. This charge includes oversight of all diversity activities at HMS as they relate to faculty, trainees, students, and staff. Reede is a graduate of Brown University and Mount Sinai School of Medicine. She completed a pediatric residency at Johns Hopkins Hospital in Baltimore, Maryland, and a fellowship in child psychiatry at Boston Children’s Hospital. She holds an MPH and an MS in Health Policy Management from Harvard T. H. Chan School of Public Health, and an MBA from Boston University. Reede created and developed more than 20 programs at HMS that aim to address pathway and leadership issues for minorities and women who are interested in careers in medicine, academic and scientific research, and the health care professions. At a national level, Reede’s advice and expertise is highly sought after among several committees and councils, such as being appointed to the Health and Human Services Advisory Committee on Minority Health and serving on the Board of Governors for the Warren Grant Magnuson Clinical Center. She also has many affiliations, including the Task Force for the Annual Biomedical Research Conference for Minority Students, CTSA Women in CTR Interest Group of the NIH, and the American Association for the Advancement of Science STEM Education Review Committee.

    School of Business (Saturday, May 10, 1:30 p.m. at Gampel Pavilion): Richard Eldh ‘81

    Rich Eldh was born in the village of Ardsley, New York, and moved homes five times between the ages of 5 and 15. He attended Staples High School in Westport, graduating as a three-sport athlete and an all-state football player. After high school, he enrolled at the University of Connecticut. In what would have been his junior year, 1978–1979, he took a leave of absence to travel abroad, living in Kempten, Germany, in Bavaria. There, he worked at Dixie Union, a manufacturing company, as a computer programmer, where he developed new automation software for the finance department. This experience in Germany highlighted the significant impact computing technology would have on business. Motivated by this realization, he decided to pursue a career in the computer industry. Upon returning to the University of Connecticut for his final two years, he majored in finance at the School of Business and graduated in 1981 with a degree in Finance. He first joined a manufacturing firm implementing automation software, then moved to Four Phase Systems, a Motorola company, selling data entry systems. Later, he joined Hewlett-Packard, specializing in manufacturing systems and automation. It was at HP that he met his wife; they married and started a family. After working for two very large corporations, Rich joined a startup called Gartner Group in Stamford. He was the 100th employee, and in ten years, the company grew from $9 million in revenue to just under $1 billion with 4,500 employees. Today, Gartner boasts a market cap of $38 billion with 21,000 employees. These early career highlights led Rich to co-found Sirius Decisions, which became a leader in high-performance go-to[1]market research and benchmarking. Headquartered in Wilton, Sirius Decisions grew to 400 employees with private equity backing and offices worldwide. The company was eventually monetized for approximately $300 million through a sale to a public company in Boston. Throughout his career, he has had the honor of working with associates and clients across more than 50 countries. Alongside his career, Rich and his wife Joyce raised two daughters and a son. They have each found success in the medical field, the fashion world, and the blockchain and crypto industry, respectively.

    School of Social Work (Saturday, May 10, 1:30 p.m. at Jorgensen Center for the Performing Arts): Maggie Mitchell Salem

    Maggie Mitchell Salem joined IRIS as Executive Director in January 2024. Throughout her nearly 30-year career, Maggie has managed diverse teams focused on civic education, intercultural dialogue, social and political rights, and forced displacement. She arrived in Connecticut following three years leading the National Democratic Institute’s democratic governance program in Tunisia. Given the exponential increase in the number of refugees, humanitarian parolees, and other immigrants that IRIS assists, Maggie has focused on organizational structure, systems, and policies that create a strong foundation for the organization’s continued growth. Her previous experience at Global Refuge (formerly Lutheran Immigration & Refugee Services) and Fugees Academy have underscored the importance of collaborative, communicative leadership and management. For more than a decade, she was the founding executive director of Qatar Foundation International and expanded Arabic language and culture education to public K-12 schools across the U.S., UK, and Germany. As the Regional Director for the Middle East and North Africa at the International Foundation for Electoral Systems (IFES), she expanded or created new programs in Jordan, Iran, and Iraq. Maggie started up and led the Middle East Institute’s Communications Department from 2001-2004. She also served as a U.S. Foreign Service Officer in Mumbai and Tel Aviv, and as staff on the Executive Secretariat of Secretary of State Madeleine Albright. Maggie was a Fulbright Scholar in Syria while studying for her Masters in Contemporary Arab Studies at Georgetown University. She received a bachelor’s degree in political science and psychology from Johns Hopkins University. She has two sons and two daughters. She lives with her six dogs and two cats in East Haddam.

    Bachelor of General Studies (Saturday, May 10, 2 p.m. at Student Union Theater): Daniel Mercier ‘95

    Daniel Mercier graduated from the Bachelor of General Studies program in 1995 with a focus in Visual Communications. After serving as a Graphics Specialist for a few years, Mercier returned to UConn in 1998 as a Media Producer. In 2001, he transitioned to the role of Instructional Developer in the Instructional Design and Development Department. After completing a Master of Arts in Educational Technology in 2003, Mercier became Manager of Instructional Design and Development and ultimately served as Assistant Director and Director of the Institute of Teaching and Learning. In 2015, he took on the role of Director, Instructional Design, in the Center for Pedagogical Innovation at Wesleyan University. In 2017, Mercier returned to UConn as the Director of Academic Affairs at the Avery Point Campus of the University of Connecticut. Throughout his 30-plus-year career, Mercier has demonstrated an unwavering commitment to the development of instructional tools, to help faculty utilize technologies to reach our students. In his work, he has supported faculty, staff and students across the higher education landscape. His commitment to the University of Connecticut spans nearly 25 years. In his current position, he recruits faculty, oversees academic advising and other academic support programs, and develops partnerships between the Avery Point campus and other academic entities within and outside UConn. These partnerships include the support of students in the Bachelor of General Studies Program.

    College of Agriculture, Health and Natural Resources (Saturday, May 10, 6 p.m. at Gampel Pavilion): Rodney Butler ’99 (BUS)

    Rodney A. Butler is the Chairman of the Mashantucket Pequot Tribal Nation (MPTN) since January 2010. Butler’s service on Tribal Council began in 2004, and after one year, he was appointed Tribal Council Treasurer; a position he held through 2009. During his tenure, Butler chaired the Tribe’s Finance, Housing, and Judicial Committees, the MPTN Utility Authority, and served as an Interim CEO for Foxwoods Resort Casino. Butler earned his Bachelor’s Degree in Finance from the University of Connecticut where he played Defensive Back for the UConn Huskies football team. Prior to Tribal Council, Butler worked in the finance department at Foxwoods Resort Casino. He later became Chairman of the Tribal Business Advisory Board; an executive body responsible for overseeing the Tribe’s non-gaming businesses and commercial properties. Butler was actively involved in multiple resort expansions at Foxwoods, as well as community development initiatives on the Reservation, the establishment of the Mashantucket (Western) Pequot Tribe Endowment Trust, and the legalization of Sports Betting and iGaming in the state of Connecticut. He was also a participant in Harvard Business School’s program “Leading People and Investing to Build Sustainable Communities.” He is a regular speaker on national panels related to Native American issues. Butler presently serves on the Board of Directors for Mashantucket Pequot Interactive and is on the board of Foxwoods El San Juan Casino. He also serves as the President of Native American Finance Officers Association (NAFOA), as Alternate Vice President for the National Congress of American Indians, and on the boards for the United South and Eastern Tribes, Indian Gaming Association, American Gaming Association, the Mystic Aquarium, and the United Way of Southeastern Connecticut. He is the 2019 recipient of the Citizen of the Year award from the Eastern Connecticut Chamber of Commerce, and the National Indian Gaming Association’s John Kieffer Sovereignty Award. In 2018, he received the St. Edmund’s Medal of Honor Award from the Enders Island Retreat Center. In 2017, Butler was appointed “Tribal Leader of the Year” by the NAFOA. As Chairman, Butler’s primary focus is to ensure long-term stability for the Tribe’s citizens, government, and business enterprises.

    School of Fine Arts (Saturday, May 10, 6 p.m. at Jorgensen Center for the Performing Arts): Jacob G. Padrón

    Jacob G. Padrón is the Artistic Director of Long Wharf Theatre in New Haven. He is also the Founder and Artistic Director of The Sol Project, a national theater initiative that works in partnership with leading theater companies to amplify the voices of Latino playwrights in New York City and beyond. Padrón has held senior-level artistic positions at theater companies across the country. He was the Senior Line Producer at The Public Theater where he worked on new plays, new musicals, Shakespeare in the Park, and Public Works. He was formerly the Producer at Steppenwolf Theatre Company in Chicago where he supported the artistic programming in the Garage – Steppenwolf’s dedicated space for new work, new artists, and new audiences. From 2008 to 2011, he was an Associate Producer at the Oregon Shakespeare Festival where he was instrumental in producing all shows in the 11-play repertory. Under the guidance of his late mentor Diane Rodriguez, he served as the producer of Suzan-Lori Parks’ “365 Days/365 Plays” for Center Theatre Group, a collaboration that included over 50 theater companies to launch Festival 365 in Los Angeles. He is a co-founder of the Artist Anti-Racism Coalition, a grassroots movement committed to dismantling structural racism within the Off-Broadway community. Jacob is a graduate of Loyola Marymount University (B.A.) and David Geffen School of Drama (M.F.A.). His first artistic home was El Teatro Campesino located in San Juan Bautista, California.

     

    College of Liberal Arts and Sciences, Ceremony I (Sunday, May 11, 9 a.m. at Gampel Pavilion): Maureen Ahern ‘85

    Maureen Ahern is an Executive Leadership Coach on her third career whose journey began in the same classrooms as today’s graduates. A proud Husky who earned both a Bachelors and a Masters, Maureen’s connection to UConn runs deep. For over 10 years, she returned to UConn Stamford each week as an Adjunct Professor, teaching Interpersonal Communications and Public Speaking after her corporate day job in New York, driven by her belief that becoming a great communicator gives you the power and confidence to take meaningful action to shape your future. Maureen started as a Sales Executive at The Associated Press and quickly rose to lead the Satellite Networks division before transitioning to Standard and Poor’s Comstock. At S&P she led many different departments as Director of Operations, VP of US Sales and Managing Director for Asian and South American markets, building successful international relationships while traveling the world. She was part of the management team that sold Comstock to IDC and then pivoted from corporate into the digital world, as Partner and COO of momAgenda, where she helped build a thriving e-commerce company. Drawing on her teaching background, leadership experience and desire to coach and mentor others, Maureen completed her leadership coaching certification at Georgetown University’s Transformational Leadership Institute. Today as Founder of Ahern Leadership Coaching and Consulting, Maureen partners with C-suite executives and emerging leaders across industries, facilitating leadership development through one-on-one coaching, team coaching, and specialized training and leadership development workshops. Her coaching philosophy – described by clients as “tough but loving”-centers on her belief that leaders aren’t born, they are made and that everyone has leadership capacity waiting to be unlocked through awareness, action and courage. Maureen was a mentor with the Freshman Founders Program at the Werth Institute at UConn Stamford, in addition to her volunteer work with CT NEXT and Startup Westport as a business mentor. She is also an angel investor with Tidal River Fund whose goal is to fund underrepresented founders. When not working with her clients whom she loves and adores, Maureen enjoys yoga, beach walks, and time with her three adult children (Patrick, Brendan and Caeleigh). She shares life in Cos Cob with her husband Mike Santini (fellow UConn grad) and their black lab, Nino.

    Neag School of Education (Sunday, May 11, 9 a.m. at Jorgensen Center for the Performing Arts): Suzanne M. Wilson

    Suzanne M. Wilson is the Neag Endowed Professor of Teacher Education at the University of Connecticut’s Neag School of Education, where she also serves as a professor in the Department of Curriculum and Instruction. Her undergraduate degree is in history and American studies from Brown University; she also has an M.S. in statistics and a Ph.D. in psychological studies in education from Stanford University. She was a University Distinguished Professor in the Department of Teacher Education at Michigan State University, where she served on the faculty for 26 years. Wilson also served as the first director of the Teacher Assessment Project, which developed prototype assessments for the National Board for Professional Teaching Standards. Wilson is a committed teacher, having taught undergraduate, master’s, and doctoral classes in educational policy, teacher learning, and research methods. She has directed 36 dissertations and served as a committee member for another 45. Wilson serves on multiple editorial and advisory boards. She was elected to the National Academy of Education in 2013 and to the American Academy of Arts and Sciences in 2022. Wilson has written on teacher knowledge, qualitative methods, curriculum reform, educational policy, and teacher preparation and professional development. She has published in Science, American Educator, American Educational Research Journal, Educational Researcher, Review of Educational Research, Elementary School Journal, Teaching and Teacher Education, Journal of Teacher Education, Phi Delta Kappa, and Teaching Education. She is the author of “California Dreaming: Reforming Mathematics Education” (Yale, 2003) and editor of Lee Shulman’s collection of essays, “Wisdom of Practice: Essays on Teaching, Learning, and Learning to Teach” (Jossey-Bass, 2004). She is currently working on a collection of essays entitled, “Why Teach?”

    College of Liberal Arts and Sciences Ceremony II (Sunday, May 11, 1:30 p.m. at Gampel Pavilion): Joe La Puma ‘05

    Joe La Puma serves as SVP of Content Strategy at Complex NTWRK and hosts Complex’s Sneaker Shopping, the world’s No. 1 sneaker show, which has garnered over 1 billion views on YouTube. He has been at the forefront of sneaker and street culture at Complex for the past 15 years. La Puma started his journalism career writing for The Daily Campus and was voted “Rookie of the Year” by fellow staffers. After graduating from UConn in 2005 with a degree in Journalism, he returned to Bay Shore to manage The Finish Line—where he previously worked in high school—while contributing articles to both local and global publications like Newsday and Hypebeast.com. In 2006, La Puma landed an internship at Complex magazine, a pop culture publication specializing in convergence culture through hip-hop, sneakers, and fashion. La Puma has written more cover stories (21) than any other writer in Complex history, including profiles on Justin Bieber, Katy Perry, and Kid Cudi. La Puma is also a published author of the book “Complex Presents: Sneaker of the Year: The Best Since ’85.” In his current SVP role, La Puma has led Complex to over 200% growth in audience and engagement. In 2014, Complex debuted the YouTube show Sneaker Shopping, a series that La Puma created and hosts to this day. Over the past decade of Sneaker Shopping, La Puma has interviewed icons like Eminem, Whoopi Goldberg, Kevin Hart, Mark Wahlberg, Billie Eilish, Cristiano Ronaldo, David Beckham, and conducted one of the only lifestyle interviews with former Vice President Kamala Harris during the 2020 election cycle. The show has filmed episodes across the U.S., as well as abroad in China, England, Spain, and Japan. With his extensive editorial work on footwear and over 300 episodes of Sneaker Shopping, La Puma is regarded as one of the foremost sneaker experts in the world. La Puma is a three-time Webby Award winner and has been featured on Good Morning America, and The Tonight Show With Jimmy Fallon. In 2024, La Puma was inducted into the Bay Shore High School Hall of Fame, a group that includes only 79 members since the school opened in 1893. La Puma currently lives in Brooklyn, and takes half-days at work when he can during UConn Basketball March Madness runs.

    School of Pharmacy – Doctor of Pharmacy (Sunday, May 11, 1:30 p.m. at Jorgensen Center for the Performing Arts): JoAnn Trejo

    JoAnn Trejo, Ph.D., MBA is professor of pharmacology and senior assistant Vice Chancellor for Health Sciences Faculty Affairs at the University of California (UC) San Diego. She completed her undergraduate degree at UC Davis, earned her Ph.D. and MBA at UC San Diego and completed postdoctoral training at UC San Francisco. Trejo is a basic science researcher with expertise in cell signaling in the context of vascular inflammation and cancer. Her research has been published in more than 100 peer-reviewed articles and she is a recipient of a NIH R35 Maximizing Investigators’ Research Award (MIRA) and the American Heart Association Established Investigator Award. Trejo is an outstanding educator, mentor and a leader actively engaged in initiatives aimed at enhancing excellence in science and pharmacology. She is the director of five NIH-supported training programs including the UC San Diego IRACDA Postdoctoral Scholars Program, FIRST Program and three early career faculty development programs. Trejo served as an elected member of the leadership Council for the ASCB and the American Society for Biochemistry and Molecular Biology and is a current member of the scientific advisory boards for Septerna and Versiti. She has also served on multiple NIH Study Sections, the NCI Board of Scientific Counselors for Basic Sciences, and Blavatnik, HHMI and Chan Zuckerberg foundation review panels. Trejo is a current member of the NIGMS Advisory Council. She is the Associate Editor for Molecular Biology of the Cell and is an editorial board member for Proceedings National Academy of Sciences Nexus, Journal of Biological Chemistry and Molecular Pharmacology. Trejo is an elected member of the National Academy of Medicine, American Society for Cell Biology (ASCB) Fellow and 100 Inspiring Hispanic / Latinx Scientists and was recently elected honorary fellow of the British Pharmacological Society.

    College of Liberal Arts and Sciences Ceremony III (Sunday, May 11, 5:30 p.m., Gampel Pavilion): Joe La Puma ‘05

    School of Pharmacy – Bachelor of Science (Sunday, May 11, 6 p.m., Jorgensen Center for the Performing Arts): Joe Honcz ‘98

    Joe Honcz is a distinguished expert in managed care and market access, boasting a robust 25-year career that spans significant sectors of the health care industry. Early in his career, he played a pivotal role in leading teams for the launch of Medicare Part D, followed by instrumental involvement in the implementation of the Affordable Care Act while at Anthem BCBS and Aetna. Since 2020, Joe has leveraged his profound understanding of managed care to deliver strategic market access insights, empowering over 20 biotech and pharmaceutical clients to effectively navigate complex market dynamics. His contributions have been crucial in the successful launch of innovative products in both traditional and rare/orphan disease categories. As a “pharmacy futurist,” he continues to drive innovation and shape market access strategies at Petauri Health, supporting the emerging pharmaceutical and health tech industries. His exceptional ability to anticipate industry trends has consistently provided clients with strategic advantages, enabling them to stay ahead of competitors with foresight and precision. Beyond his professional endeavors, Joe is actively involved at Yale Ventures as an Entrepreneur-in-Residence and at the University of Connecticut Technology Commercialization Services in the same capacity. He has also served as an Adjunct Professor at the University of St. Joseph School of Pharmacy and is on the Board of Directors for the Academy of Managed Care Pharmacy (AMCP) and Avery’s Little Army, whose mission is to honor the legacy of Avery Marie Lafferty, an exceptionally brave cancer rebel, and all patients like her. Joe’s extensive background is complemented by diverse roles at Pfizer, Walgreens, Humana, PrecisionAQ, and CVS. He holds a Bachelor of Science in Pharmacy and a Master of Business Administration with a concentration in Marketing from the University of Connecticut, underscoring his deep roots and commitment to the field. In addition to being a Board member, he is also an AMCP diplomat to the UConn School of Pharmacy, where he fulfills his passion for mentoring and coaching.

    The Graduate School – Masters Ceremony (Monday, May 12, 9 a.m. at Gampel Pavilion): Manasse Mbonye ’95 Ph.D.

    Manasse Mbonye is a Founding Fellow of the Rwanda Academy of Sciences (RAS) and its current President. He is also the Group Leader and Professor, Rwanda Astrophysics Space and Climate Sciences Research Group (RASCSRG) at the University of Rwanda and a member of the national Science Advisory Group (SAG). By Training, Mbonye is a theoretical Astrophysicist and Cosmologist. He completed his Ph.D. from the University of Connecticut in 1995. Mbonye has taught Physics at various institutions including UConn, the University of Michigan, and RIT. He has also worked at NASA (Goddard Space Flight Center). In 2012, Mbonye returned to Africa. Since then, his appointments have included, Provost (later) Ag Rector (National University of Rwanda), the first Principal (University of Rwanda, College of Science and Technology), and Executive Secretary (Rwanda’s National Council for Science and Technology, (NCST)). During Mbonye’s tenure, NCST instituted a major review of Rwanda’s Science, Technology, Research and Innovation (STRI) policy. Further, the National Research and Innovation Agenda (NRIA) was constructed, along with its implementation enabler, the National Research and Innovation Fund (NRIF) framework. Rwanda launched the NRIF in June 2018. Mbonye has served on the East African Science and Technology Commission (EASTCO) Board of Directors as its Rapporteur (2017-2018). He has also been Chairman of the Rwanda Energy Group (REG) (2015-2018), Rwanda’s sole electric energy production source and utility company. Prof. Mbonye continues to do research and supervise students, at the University of Rwanda.

     

    UConn Health (Monday, May 12, 1 p.m. at Jorgensen Center for the Performing Arts): Manisha Juthani

    Dr. Manisha Juthani, is the Commissioner of the Connecticut Department of Public Health (DPH). Juthani is the first Indian American to serve as a commissioner in the State of Connecticut. She served as professor of medicine at Yale School of Medicine through September 2024 and currently serves as an adjunct professor of medicine. She served as Director of the Infectious Diseases Fellowship Program from 2012 to 2021. Juthani received her B.A. from the University of Pennsylvania and M.D. from Cornell University Medical College, completed Internal Medicine residency training at New York-Presbyterian Hospital/Weill Cornell campus, and served as chief resident at Memorial-Sloan Kettering Cancer Center. She came to Connecticut in 2002 as an Infectious Diseases fellow at Yale School of Medicine. During the COVID-19 pandemic, Juthani was a leader in the COVID response at Yale which led to her appointment as Commissioner of CT DPH in 2021. In the early days of the pandemic, she was a voice to help educate the public in both local and national media outlets, a role she was able to expand in her role as Commissioner. Upon joining CT DPH, she helped guide Connecticut out of the pandemic and worked to revitalize areas of public health, such as gun violence, maternal health, opioid use, and sexually transmitted diseases, that were exacerbated during the pandemic. As she continues in her role as DPH Commissioner, Juthani has shifted her core vision to “Preserve and Protect Core Public Health Principles and Services.” As Connecticut is presented with new public health challenges, she remains committed to preserving public health achievements made over the years, including improvements in regulatory oversight in health care, drinking water, and environmental health which includes food safety. It is more important than ever to highlight the importance of vaccines, control of infectious diseases, road safety, and healthier mothers and babies. Clear, accurate communication about public health risks is vital to her mission. She continues to advocate for health as a human right which is the core vision of CT DPH. Juthani is on the Board of Directors of UConn Health.

    The Graduate School – Doctoral Ceremony (Monday, May 12, 6 p.m. at Jorgensen Center for the Performing Arts): Sethuraman Panchanathan

    Sethuraman “Panch” Panchanathan is a computer scientist and engineer who served as the 15th director of the United States National Science Foundation (NSF) from 2020 until 2025. Panchanathan was nominated to by the president in 2019 and unanimously confirmed by the Senate on June 18, 2020. NSF is a $9.06 billion independent federal agency, and the only government agency charged with advancing all fields of scientific discovery, technological innovation and science, technology, engineering and mathematics education.

    Panchanathan previously served as the executive vice president of the Arizona State University (ASU) Knowledge Enterprise, where he was also chief research and innovation officer. He was also the founder and director of the Center for Cognitive Ubiquitous Computing at ASU. Under his leadership, the university increased research performance fivefold, earning recognition as the fastest growing and most innovative research university in the U.S.

    Prior to joining NSF, Panchanathan was appointed by the president to serve on the National Science Board, where he was a chair of the Committee on Strategy and a member of the External Engagement and National Science and Engineering Policy committees. Additionally, he was chair of the Council on Research of the Association of Public and Land-grant Universities and co-chair of the Extreme Innovation Taskforce of the Global Federation of Competitiveness Councils. Arizona’s governor appointed Panchanathan as senior advisor for science and technology in 2018. He was the editor-in-chief of the Institute of Electrical and Electronics Engineers (IEEE) MultiMedia magazine and editor and associate editor of several international journals.

    For his scientific contributions, Panchanathan has received numerous awards, including honorary doctorates from prestigious universities, distinguished alumni awards, the Governor’s Innovator of the Year for Academia Award, the Washington Academy of Sciences Distinguished Career Award and the IEEE-USA Public Service Award.

    Panchanathan is a member of the National Academy of Engineering and a fellow of the National Academy of Inventors, where he also served as vice president for strategic initiatives. He is also a fellow of the American Association for the Advancement of Science, the Canadian Academy of Engineering, the Association for Computing Machinery, IEEE and the Society of Optical Engineering.

    School of Law (Sunday, May 18, 10:30 a.m. at UConn School of Law): Mayor Arunan Arulampalam

    The son of Sri Lankan refugees, Arunan Arulampalam was born in Zimbabwe and made a home and a family in Hartford after graduate school. Prior to being elected mayor of Hartford in November 2023, he served as CEO of the Hartford Land Bank, where he developed a first-in-the-nation program to train Hartford residents to become local developers and tackle blight in their city. Arulampalam served in Governor Ned Lamont’s administration as Deputy Commissioner of the Connecticut Department of Consumer Protection. Before that, he was a lawyer at the downtown firm Updike, Kelly & Spellacy, P.C. Arulampalam also served on the Board of the Hartford Public Library, the House of Bread, and on the Hartford Redevelopment Authority. He earned his BA in International Studies from Emory University and his JD from Quinnipiac University School of Law.

    MIL OSI USA News

  • MIL-OSI: MINILUXE REPORTS FULL-YEAR FINANCIAL RESULTS FOR YEAR ENDED DECEMBER 29, 2024

    Source: GlobeNewswire (MIL-OSI)

    All reported figures in U.S. Dollars unless otherwise noted

    Boston, MA, April 29, 2025 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (TSXV: MNLX) today announced its financial results for the 52 weeks ended December 29, 2024 (FY2024). The fiscal year of MiniLuxe (the “Company”) is a 52-week reporting cycle which ended in 2024 on Sunday, December 29, 2024.

    As the Company has previously and consistently shared, there were three key strategic and performance objectives for 2024.

    Key 2024 Strategic Pillars

    1. Accelerate overall studio-level profitability (i.e. store level contribution) growth
    2. Drive growth through operating partners (via JVs or M&A) and franchise partners
    3. Increase fixed cost leverage and SG&A efficiency

    Across each of these core strategic pillars and 2024 performance objectives, the Company made material progress.

    Highlights of Business Performance

    • Studio-level profitability (store-level cash contribution) grew YoY 360 percent.
    • As a percentage of revenue, SG&A reduced to under 16 percent, which represented a decrease of approximately 24 percent versus prior year while gross profit grew to $11M or +8 percent improvement versus prior year.
    • The net effect of both increasing studio cash contribution, decreasing SG&A and increasing gross profit margin led to adjusted EBITDA losses being cut by more than half in 2024 to -$4.0M from -$9.0M in 2023.
    • Operating cash burn improved by a factor of over 3x to just over -$2M in 2024 from -$7M in 2023.
    • FY2024 year-end cash, cash equivalent and restricted cash reached $4M, an improvement of $.6M versus $3.4M at year-end FY2023 due to a combination of dramatically reduced cash burn and ~$1.6M coming from the first closing of a non-brokered private placement which was originally announced on November 27, 2024. (more details below).

    The Company seeks to maintain this positive momentum in 2025, progressing increasingly closer to overall company-wide profitability. Total Company revenue for 2024 finished at a record level of $26.1M or just over 6% YoY growth, compared to $24.6M in 2023. While the overall quantum of YoY growth was relatively modest, the quality and increased profitability of that growth was both very significant and intentional in terms of the Company’s operating strategy. These results were accomplished by driving revenue growth through studio specific KPIs, some studios were held to more constrained growth (to better focus on improving efficiencies and profitability) while the majority of the fleet portfolio were managed to all-time-record revenue highs. In terms of unit-level revenue, two studios crossed over the $2M revenue threshold before the end of the year (ultimately reaching ~$1,500 per square feet of sales). The top 25 percent of studios in the fleet are now at a median of ~$1.9M per unit volume and the top 50 percent at ~ $1.6M.

    Also noteworthy is that MiniLuxe’s most loyal client base – those visiting 20+ times per year – grew 4.5% year-over-year between 2024 and 2023. In any given month, the split of customers is between ~88% repeat and ~12% new customers.

    Throughout 2024 and as the Company goes into 2025, the focus on Operating Partners remains core to the Company’s strategy to leverage its brand and platform while scaling growth through localized operators. In July of 2024, MiniLuxe announced its first operating and JV partner for the Atlanta region with the business Sugarcoat. As part of the joint venture agreement, MiniLuxe took a majority ownership stake of one Sugarcoat location in The Forum Peachtree Corners in Atlanta. On December 17th of 2024, MiniLuxe also announced its first franchise operating partner, Ms. Quynh Pham, who opened a MiniLuxe studio in Brookline, MA (taking over the old MiniLuxe Academy Studio). Both joint venture and franchise partners have rapidly brought forward fresh ideas and hyper-localized marketing and new operational best-practices translating into increased week-over-week sales, walk-ins and utilization levels. During 2024 the Company also had its first full year of results with its regional operating partner in the Dallas Fort Worth area which saw a lift in profitability of over 5x within the year.

    A key driver to longer-term growth and competitive advantage has been the Company’s ability to attract and retain its ecosystem of nail designer talent. FY2024 represented a record year in terms of annual retention of designer talent which was at 87 percent, up 3 percentage points from 84 percent in 2023. Additionally, a number of nail designers crossed their five-year anniversaries with the Company and now over 50 percent of the nail designer talent employment base hold tenure with the Company for 5 years or more.

    In 2024 the team demonstrated our deepest understanding of unit economics and KPIs, delivering the strongest studio performance across the portfolio, while diversifying our revenue streams with new JV, franchise and operating partners – setting us up on our journey towards greater scale and growth. We head into 2025 with a record level of 360%+ YoY studio profitability, deepening brand loyalty amongst our customer base, a strong balance sheet, and much enthusiasm for what’s ahead.” said Tony Tjan, Chief Executive Officer and Co-founder of MiniLuxe.

    Subsequent Events and 2025 Outlook

    To date, the first part of Q1 2025 presented the Company with both early progress towards its strategic priorities but also headwinds in the form of the LA wildfires and the introduction of US tariffs on trade partners.

    The LA fires impacted foot traffic and demand for Beverly Hills and Brentwood Studios. The Company has taken measures to address this potential impact to studio economics with increased leadership support and connectivity with the local community such that demand has begun to return (but is not anticipated to fully recover until 2H 2025).

    While the vast majority of MiniLuxe’s products are made in the US, the company is still making efforts to further minimize supply related exposure by exploring options to shift sourcing from China to US based vendors and lower tariff markets like Vietnam and Taiwan. These early moves are designed to optimize and protect gross margins in MiniLuxe’s proprietary products and Paintbox custom press on products and packaging.

    Early wins in Q1 of 2025 include closing on a new tranche of funding and reaching an agreement for the conversion of all of the Company’s remaining balance of convertible notes as explained below.

    Effective February 10, 2025, the Company completed a non-brokered private placement of Class A subordinate voting shares of the Company and raised a total of USD $3.49M or (~CDN $4.94M) through the issuance of 6,247,717 Subordinate Voting Shares at a price of USD $0.55 each (CDN $0.79) Together, with the first private placement closing and this second and final closing of the Offering raised total new primary capital for the Company in the amount of USD $5.067M or (~CDN $7.26M). 

    Alongside the private placement offering, the Company also finalized additional shares-for-debt agreements to satisfy an aggregate of USD$1,055,577 (~CDN$1.49 million) of outstanding debt related to the principal and accrued but unpaid interest on certain convertible debentures of the Company (the “Debentures”). As part of this debt conversion, an aggregate of 2,294,731 Subordinate Voting Shares were issued at a deemed price of USD$0.46 per share, with an effective conversion date of February 7, 2025.

    The Company offered existing Debenture holders participating in the Offering the opportunity to elect to receive Subordinate Voting Shares at a discounted conversion price relative to the original terms of the Debentures. All Debenture holders electing to convert are deemed to be at arm’s length from the Company. The issuance of these shares remains subject to TSX Venture Exchange approval. Similarly, completion of all tranches of the private placement Offering is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange. The securities issued pursuant to the initial closing of the Offering are subject to a hold period of four months and one day from the issuance date in accordance with applicable securities laws.

    On March 11, 2025, the Company announced the refinancing and extension of maturity of its existing senior debt to 2028 to be coincident with a new tranche of $1.675M of senior debt from Flow Capital.

    On March 21, 2025, the Company announced that it had reached agreement for the conversion of all of its remaining balance of convertible notes.

    2024 Results

    Selected Financial Measures

    Results of Operations

    The following table outlines the consolidated statements of loss and comprehensive loss for the fiscal year which ended December 29, 2024, and December 31, 2023.

    Cash Flows

    The following table presents cash and cash equivalents for the fiscal year which ended December 29, 2024, and December 31, 2023.

    Non-IFRS Measures and Reconciliation of Non-IFRS Measures

    This press release references certain non-IFRS measures used by management. These measures are not recognized under International Financial Reporting Standards (“IFRS”), do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The non-IFRS measures referred to in this press release are “Adjusted EBITDA” and “Fleet Adjusted EBITDA”.

    Adjusted EBITDA

    Management believes Adjusted EBITDA most accurately reflects the commercial reality of the Company’s operations on an ongoing basis by adding back non-cash expenses. Additionally, the rent-related adjustments ensure that studio-related expenses align with revenue generated over the corresponding time periods.

    Adjusted EBITDA is calculated by adding back fixed asset depreciation, right-of-use asset amortization under IFRS 16, asset disposal, and share-based compensation expense to IFRS operating income, then deducting straight-line rent expenses net of lease abatements. IFRS operating income is revenue less cost of sales (gross profit), additionally adjusted for general and administrative expenses, and depreciation and amortization expenses.

    A reconciliation of IFRS operating income to Adjusted EBITDA is included in Selected Consolidated Financial Information.

    The Company also uses Fleet Adjusted EBITDA to evaluate the performance of its MiniLuxe Core Studio business (19 MiniLuxe-branded studios operating for 18+ months). This metric is calculated in a similar manner, starting with Talent revenue and adjusting for non-fleet Talent revenue and cost of sales, further adjusted by fleet general and administrative expenses and finally subtracting straight line rent expense (similar to amount used in the full company Adjusted EBITDA, less amounts allocated to locations outside of MiniLuxe’s core studio business, i.e. Paintbox). The Company believes that this metric most closely mirrors how management views the fleet portion of the business. A reconciliation of Talent revenue to Fleet Adjusted EBITDA is included in Selected Consolidated Financial Information.

    The following table reconciles net Operating Loss to Adjusted EBITDA for FY24 and FY23.

    The following table reconciles Fleet Talent Revenue to Fleet Adjusted EBITDA for FY24 and FY23.

    _____________________________________________

    Straight-line rent expense for a given payment period is calculated by dividing the sum of all payments over the life of the lease (the figure used in the present value calculation of the right-of-use asset) by the number of payment periods (typically months). This number is then annualized by adding the rent expenses calculated for the payment periods that comprise each fiscal year. For leases signed mid-year, the total straight-line rent expense calculation applies the new lease terms only to the payment periods after the signing of the new lease.

    About MiniLuxe

    MiniLuxe, a Delaware corporation based in Boston, Massachusetts. MiniLuxe is a lifestyle brand and talent empowerment platform servicing the beauty and self-care industry. The Company focuses on delivering high-quality nail care and esthetic services and offers a suite of trusted proprietary products that are used in the Company’s owned-and-operated studio services. For over a decade, MiniLuxe has been elevating industry standards through healthier, ultra-hygienic services, a modern design esthetic, socially responsible labor practices, and better-for-you, cleaner products. MiniLuxe’s aims to radically transform a highly fragmented and under-regulated self-care and nail care industry through its brand, standards, and technology platform that collectively enable better talent and client experiences. For its clients, MiniLuxe offers best-in-class self-care services and better-for-you products, and for nail care and beauty professionals, MiniLuxe seeks to become the employer of choice. In addition to creating long-term durable economic returns for our stakeholders, the brand seeks to positively impact and empower one of the most diverse and largest hourly worker segments through professional development and certification, economic mobility, and company ownership opportunities (e.g., equity participation and future franchise opportunities). Since its inception, MiniLuxe has performed over 4 million services.

    For further information

    Christine Mastrangelo
    ‎Investor Relations, MiniLuxe Holding Corp.
    cmastrangelo@MiniLuxe.com
    MiniLuxe.com 

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Forward-looking statements

    This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) concerning the Company and its subsidiaries within the meaning of applicable securities laws. Forward-looking information may relate to the future financial outlook and anticipated events or results of the Company and may include information regarding the Company’s financial position, business strategy, growth strategies, acquisition prospects and plans, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which the Company operates is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “budgets”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projects”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will” occur. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.

    Many factors could cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking information, including, without limitation, those listed in the “Risk Factors” section of the Company’s filing statement dated November 9, 2021. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this press release. 

    Forward-looking information, by its nature, is based on the Company’s opinions, estimates and assumptions in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate and reasonable in the circumstances. Those factors should not be construed as exhaustive. Despite a careful process to prepare and review forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the Company bases its forward-looking information on assumptions that it believes were reasonable when made, which include, but are not limited to, assumptions with respect to the Company’s future growth potential, results of operations, future prospects and opportunities, execution of the Company’s business strategy, there being no material variations in the current tax and regulatory environments, future levels of indebtedness and current economic conditions remaining unchanged, the Company cautions readers that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which the Company operates may differ materially from the forward-looking statements contained in this press release. In addition, even if the Company’s results of operations, financial condition and liquidity, and the development of the industry in which it operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

    Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date made (or as of the date they are otherwise stated to be made). Any forward-looking statement that is made in this press release speaks only as of the date of such statement.

    The MIL Network

  • MIL-OSI: XRP News: XenDex Soft Cap Almost Filled as Demand Explodes $XDX Tokens Selling Out Ahead of Exchange Listing

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Australia, April 29, 2025 (GLOBE NEWSWIRE) — The window is closing fast. XenDex, the revolutionary all-in-one decentralized exchange built on the XRP Ledger, is on the brink of selling out its presale and early buyers may never see these current prices again, keep reading.

    In a week dominated by XRP market milestones, including Brazil’s first XRP Spot ETF approval, the SEC’s lawsuit withdrawal, and the greenlight for ProShares’ XRP Futures ETF — XenDex has emerged as the go-to DeFi platform for XRP holders. Now, with its soft cap almost completely filled, the urgency to secure $XDX tokens has reached new heights.

    Buy $XDX Now!

    XDX Price Set to Increase After Today

    Currently, 1 XRP = 10 XDX, But once the soft cap is filled, 1.25 XRP will be required to purchase 10 XDX.

    That’s a 25% increase after the soft cap is raised, and with demand surging, this is the final opportunity to buy $XDX at its lowest possible rate.

    Join the Presale Now: https://xendex.net/presale

    High-Profile Listings Confirmed

    Once the presale concludes, $XDX is already lined up for listing on major exchanges, including:

    • Binance
    • Gate.io
    • BitMart
    • MEXC
    • FirstLedger
    • MagneticX

    These listings will open the doors to global liquidity, institutional access, and high-volume trading, making today’s entry price even more critical.

    Purchase XDX At Lowest Presale Price

    What Makes XenDex Different

    Unlike anything currently on XRPL, XenDex delivers:

    • AI-Powered Copy Trading – Mirror elite trader strategies in real-time
    • Non-Custodial Lending & Borrowing – Borrow and lend XRP and XDX tokens to earn rewards
    • Cross-Chain Trading – Swap XRP tokens across major blockchains like Solana and BNB
    • Staking and Yield Farming – Earn rewards by supplying liquidity to the platform
    • DAO Governance – $XDX holders vote on upgrades and future developments

    Thousands are already in and holding $XDX, what are you waiting for?

    The XenDex community is exploding across Telegram and Twitter, with whales and retail investors alike locking in their $XDX allocations before the price jump. Presale supply is shrinking by the hour and when it’s gone, it’s gone.

    Join XenDex Presale

    Final chance to buy at launch price is now! Do not miss it.

    This is your last chance to get in before $XDX becomes more expensive.

    Don’t wait until tomorrow to regret what you could have done today.

    Visit Official XenDex Links

    Website: https://xendex.net
    Presale: https://xendex.net/presale
    Telegram: https://t.me/xendexcommunity
    Twitter/X: https://x.com/xendex_xrp
    Docs: https://xdxdocs.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5fc1748f-4060-4d9b-a620-c57ff79a5e61

    The MIL Network

  • MIL-OSI Asia-Pac: HK preps for Golden Week

    Source: Hong Kong Information Services

    The Government today announced the public transport arrangements for the Mainland’s Labour Day Golden Week, noting that a large number of people, vehicles and visitors are expected to travel from the Mainland and Macau via land-based boundary crossing points (BCPs), particularly on May 1, 3 and 5.

    The Transport Department has co-ordinated with local and cross-boundary public transport operators to strengthen services during the holidays, including increasing the frequency of the Hong Kong-Zhuhai-Macao Bridge (HZMB) shuttle bus to less than one minute during peak hours, and the Lok Ma Chau-Huanggang cross-boundary shuttle bus to about two minutes at its highest frequency as well as increasing the quota of cross-boundary coaches.

    The frequency of local franchised bus B routes connecting various land-based BCPs will also be increased to a level higher than that of normal weekends and Sundays, and franchised bus operators will reserve sufficient vehicles and manpower to meet passengers’ needs.

    Meanwhile, the MTR Corporation will enhance East Rail Line train services between Admiralty and Lo Wu/Lok Ma Chau at different times from May 1 to 5.

    As the waiting time for public transport services may be longer, passengers should make their journeys during non-peak hours, observe order while queuing and heed advice from Police and transport operators. Passengers of cross-boundary coaches should also reserve their tickets in advance.

    Subject to traffic conditions, special traffic arrangements may be implemented at the Lok Ma Chau Control Point and Shenzhen Bay Port from May 1 to 5 to allow smooth access of public transport vehicles. Cross-boundary private cars may need to queue up for crossing the BCPs and motorists should pay extra attention to variable message signs and traffic signs along the roads.

    People can use the HKeMobility mobile app to access snapshots of the traffic conditions at inbound and outbound vehicle plazas of the HZMB Hong Kong Port.

    The department’s Emergency Transport Co-ordination Centre will operate around the clock to monitor the traffic and public transport services of different districts including BCPs and major stations. Latest traffic information will be disseminated through various channels. 

    MIL OSI Asia Pacific News

  • MIL-Evening Report: Labor maintains clear lead in all polls and is likely to win election

    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

    Labor leads by between 52–48 and 53–47 in four new national polls from Resolve, Essential, Morgan and DemosAU. While Labor’s vote slumped from a high 55.5–44.5 in Morgan to 53–47, such a slide hasn’t been seen in any other poll. Labor remains the likely winner of the election this Saturday.

    A national Resolve poll for Nine newspapers, conducted April 23–28 from a sample of 2,010 by online and telephone polling, gave Labor a 53–47 lead, a 0.5-point gain for the Coalition since the mid-April Resolve poll. Telephone polling by Resolve appears to only be used for their final polls before a federal election.

    Primary votes were 35% Coalition (up one), 31% Labor (steady), 14% Greens (up one), 7% One Nation (up one), 8% independents (down four) and 5% others (steady). The 53–47 two-party result was achieved whether preferences were allocated as at the 2022 election or by respondents.

    In this poll, Resolve is using seat-specific candidate lists, which Morgan and YouGov are now also doing. This resulted in a drop in the independent vote, as not all seats have viable independents.

    Here is the graph of Labor’s two-party share in national polls. There was a 2.5-point drop for Labor in Morgan, but no other poll this week has had such a large change. Although Labor is slightly down, they are likely to win Saturday’s election. This graph does not include the DemosAU poll.

    Anthony Albanese’s net approval in Resolve was steady at +1, with 45% saying he was doing a good job and 44% a poor job. Peter Dutton’s net approval slumped six points to -24. Albanese maintained a 47–31 lead over Dutton as preferred PM (46–30 previously).

    The change in voting intentions and leaders’ ratings since the late February Resolve poll is dramatic. The February poll had given the Coalition a 55–45 lead by respondent preferences. Albanese’s net approval was -22, Dutton’s was +5 and Dutton led Albanese as preferred PM by 39–35.

    The Liberals led Labor on economic management by 37–29 (36–31 previously). On keeping the cost of living low, the Liberals led by 31–28 (tied at 30–30 previously).

    Final Essential poll: Labor leads by 52.1–47.9

    The Guardian reported Tuesday that the final Essential poll, conducted April 23–27 from a sample of 2,241 gave Labor a 52.1–47.9 lead by respondent preferences with undecided removed, from primary votes of 34% Coalition, 32% Labor, 13% Greens, 10% One Nation, 2% Trumpet of Patriots and 9% for all Others,

    In Essential’s usual methods that include undecided, Labor led by 49.6–45.6 (50–45 in mid-April). Primary votes were 32% Coalition (steady), 31% Labor (steady), 12% Greens (down one), 9% One Nation (steady), 2% Trumpet of Patriots (steady), 9% for all Others (steady) and 5% undecided (up one). By 2022 election flows, Labor would lead by about 52.5–47.5.

    Albanese’s net approval was steady at -3, with 47% disapproving and 44% approving. Dutton’s net approval dropped three points to -12, a record low for him in this poll. By 52–31, voters thought Australia was on the wrong track (50–33 previously).

    A total of 81% rated cost of living one of the top three most important issues, including 49% who rated it the top issue. By 68–32, voters did not think the elected government would make a meaningful difference on cost of living.

    Morgan poll: Labor drops to a 53–47 lead

    A national Morgan poll, conducted April 21–27 from a sample of 1,524, gave Labor a 53–47 lead by headline respondent preferences, a 2.5-point gain for the Coalition since the April 14–20 Morgan poll.

    Primary votes were 34.5% Coalition (up 0.5), 34% Labor (down 0.5), 13% Greens (down 1.5), 7.5% One Nation (up 1.5), 1.5% Trumpet of Patriots (up one), 2% teal independents and 7.5% for all Others. By 2022 election flows, Labor led by 54–46, a 1.5-point gain for the Coalition.

    By 52.5–34, voters thought the country was going in the wrong direction (48–34 previously). Morgan’s consumer confidence index was down 2.1 points to 83.4, its lowest for more than six months.

    DemosAU poll 52–48 to Labor with low major party primary votes

    A national DemosAU poll, conducted April 22–23 from a sample of 1,073, gave Labor a 52–48 lead after a forced choice question for the 14% who were initially undecided.

    Primary votes after forcing were 31% Coalition, 29% Labor, 14% Greens, 9% One Nation, 7% independents and 10% others. DemosAU used seat-specific polls, reading the candidate list as it appears on the ballot paper. Other pollsters get higher primary votes for the major parties as those parties are listed first on seat-specific polls.

    Albanese led Dutton by 43–34 as preferred PM.

    DemosAU poll of outer metro Brisbane seats

    DemosAU collectively polled the five seats of Longman, Dickson, Petrie, Bonner and Forde on April 18–23 from a sample of 1,053 for The Financial Review. The Liberal National Party led Labor by 53–47 (53.4–46.6 to the LNP across these five seats at the 2022 election).

    Primary votes were 40% LNP, 27% Labor, 13% Greens, 7% One Nation, 2% Trumpet of Patriots and 11% for all Others.

    Adrian Beaumont does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Labor maintains clear lead in all polls and is likely to win election – https://theconversation.com/labor-maintains-clear-lead-in-all-polls-and-is-likely-to-win-election-255426

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI United Nations: New Data: Since 2014, 52,000 Migrants Died Fleeing Humanitarian Crises; IOM Urges Collective Action 

    Source: International Organization for Migration (IOM)

    Berlin/Geneva, 29 April 2025 – A new report from the International Organization for Migration (IOM) reveals that most people who die while migrating are not taking dangerous journeys purely out of choice, but out of desperation – fleeing insecurity, conflict, disaster, and other humanitarian crises.  

    Since 2014, more than 52,000 people have died while trying to escape crisis-affected* countries. That’s nearly three-quarters (72%) of all migrant deaths recorded globally during this period. These include over 39,000 people who died within crisis zones, often while trapped in unsafe conditions, and more than 13,500 who died while trying to flee conflict or disaster.  

    “These numbers are a tragic reminder that people risk their lives when insecurity, lack of opportunity, and other pressures leave them with no safe or viable options at home,” said IOM Director General Amy Pope. “We must invest to create stability and opportunity within communities, so that migration is a choice, not a necessity. And when staying is no longer possible, we must work together to enable safe, legal, and orderly pathways that protect lives.” 

    Crisis Zones: The Deadliest Places for Migrants  

    More than half (54%) of all recorded migrant deaths since 2014 occurred in or near countries affected by conflict or disaster. For example:  

    • In Afghanistan, over 5,000 people have died in transit, including thousands who perished while fleeing the country following the 2021 political upheaval.  
    • Among the Rohingya people from Myanmar, more than 3,100 people have died – many in shipwrecks or while crossing into Bangladesh.  
    • The Central Mediterranean remains the deadliest single migration route worldwide, with nearly 25,000 people lost at sea.  

    A Call for Stronger Global Cooperation  

    Despite the scale of the crisis, migrants are often overlooked in humanitarian planning. Needs assessments and aid appeals frequently fail to include targeted efforts to protect those on the move – even though nearly one in four missing migrants came from a crisis-affected country.

    “Too often, migrants fall through the cracks,” said Julia Black, coordinator of IOM’s Missing Migrants Project and the report’s author. “And due to data gaps – especially in war zones and disaster areas – the true death toll is likely far higher than what we’ve recorded.”  

    IOM is urging States and humanitarian partners to work together to ensure migrants are not excluded from crisis responses. This means expanding legal pathways, improving access to aid and healthcare, and investing in data systems that can better track and protect those at risk.  

    Note to Editor:  

    * For the purposes of this report, “countries in crisis” refers to 40 countries with an active Crisis Response Plan (CRP) or Humanitarian Response Plan (HRP) listed by IOM and/or UN OCHA as of December 2024.   

    Click here to access the Missing Migrants Project 2024 annual report.  

    The analysis in this press release is based on data available as of 1 March 2025. For the latest figures, click here.   

    IOM’s Missing Migrants Project is currently maintained with financial support of the governments of Switzerland, Norway, Denmark and the European Union. The preparation of this year’s report was co-funded through IOM’s Flexible Funding Mechanism (FFM), enabling the use of data and evidence to save lives and protect people affected by humanitarian crises. IOM appreciates the generous unearmarked and softly earmarked voluntary contributions from our donors to the Flexible Funding Mechanism, which made this initiative possible.  

    For more information, please contact IOM Media Centre  

    MIL OSI United Nations News

  • MIL-OSI Economics: Detailed Result: OMO Purchase Auction held on April 29, 2025 and Settlement on April 30, 2025

    Source: Reserve Bank of India

    I. Summary OMO Purchase Results

    Aggregate Amount (Face value) notified by RBI : ₹20,000 crore
    Total amount offered (Face value) by participants : ₹39,218 crore
    Total amount accepted (Face value) by RBI : ₹20,000 crore

    II. Details of OMO Purchase Issue

    Security 7.04% GS 2029 6.10% GS 2031 7.26% GS 2032 6.19% GS 2034 8.33% GS 2036
    No. of offers received 20 78 19 35 21
    Total amount (face value) offered (₹ in crore) 9,470 18,069 2,956 3,825 4,898
    No. of offers accepted 6 37 16 20 8
    Total offer amount (face value) accepted by RBI (₹ in crore) 1,605 9,869 2,656 1,610 4,260
    Cut off yield (%) 6.0975 6.2238 6.2570 6.3476 6.5005
    Cut off price (₹) 103.36 99.36 105.80 98.89 114.30
    Weighted average yield (%) 6.1140 6.2376 6.2837 6.3635 6.5063
    Weighted average price (₹) 103.30 99.29 105.64 98.78 114.25
    Partial allotment % of competitive offers at cut off price NA 42.12 NA NA NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/203

    MIL OSI Economics

  • MIL-OSI Russia: Adventures of Foreigners in Russia. How a Telegram Channel Helps Foreign Students

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Life is in full swing at the Saint Petersburg Polytechnic University: the university was recently visited by an unusual guest — Arina Rylova, a representative of the popular Telegram channel “Adventures of Foreigners in Russia.” The meeting within the university walls turned into a real brainstorming session: activists of student organizations supervising the adaptation of foreign guests shared their experiences, and the guest shared success stories and plans for the future.

    Imagine: a student from Nigeria comes to Russia, gets lost in a pile of documents, doesn’t know where to run. We become his guides, — the channel’s representative begins the presentation. The project, which has united tens of thousands of subscribers, works as a multilingual bridge between foreigners and Russian bureaucracy. Through a bot integrated with the Ministry of Digital Development, the guys quickly resolve migration issues. The channel publishes life hacks in five languages (Chinese, English, French, Arabic, Spanish): how to open an account, extend a visa or find a doctor.

    But this is just the tip of the iceberg. The channel is also a social lift.

    “Last year, our activists visited the SPIEF and the Russia-Africa forum,” the speaker says proudly. “The guys were able to communicate with the leaders of their countries.”

    The faces of the channel’s heroes flash across the screen. Here is Ibrahim from Algeria. He entered, learned Russian so well that he received citizenship, and now he runs a blog for his fellow countrymen. Next to him is a smiling student from Africa, whose blog about life in Russia was noticed by Yandex and invited to work.

    We don’t just provide information – we open doors, the speaker emphasizes.

    In response, Polytechnic student leaders are demonstrating their ecosystem of support. PolyUnion is a whole world.

    Adapters and tutors meet newcomers at the airport with signs in their native language, help with documents, and even teach them how to pay for the metro. The Council of Associations from 20 countries organizes Nowruz, Chinese New Year, and excursions around St. Petersburg and other Russian cities. The guys act as a link between students and the university administration. The Women’s Club creates a safe space for female students: from culinary master classes to career advice. The UN Model turns classrooms into diplomatic arenas, where foreigners hone their Russian in heated debates.

    Polytechnic University foreign students try to take part in activities outside our university: Our volunteer group recently visited Rzhevka, where we spent time walking dogs from a local shelter. For many students who left their pets at home, this trip was special – they happily interacted with animals, played with cats and shared warmth with those who need it, – shared one of the PolyUnion leaders and the ideological inspirer of the “Women’s Club” Alexandra Le Gall.

    PolyUnion actively participates in organizing humanitarian aid for countries that have found themselves in difficult situations. For example, in previous years, they collected aid for Syria and Turkey, and now they are holding an action for Myanmar. Collection points are open in the main building of the university, the Interclub and the dormitory: you can bring clothes, medicines, long-term storage products and other necessary things there. Everything collected through the embassy will be sent to Myanmar to support people affected by the crisis.

    Olesya Stepanova, Head of the Special Projects Department of the Polytechnic University’s USO, spoke about joint projects with foreign students, including the development of instruction cards for applicants from abroad who want to study at SPbPU. The meeting culminated in joint plans. The first candidates from the Polytechnic University will take part in the Summer International Gathering of the channel, which will become a platform for training bloggers.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI New Zealand: New Zealand ‘nowhere to be seen – again’ – on intensifying Gaza genocide – PSNA

    Source: Palestine Solidarity Network Aotearoa

     

    The Palestine Solidarity Network Aotearoa is demanding the New Zealand government justify its absence from submitters to the International Court of Justice hearings at the Hague into Israel blocking vital supplies entering Gaza.

     

    The ICJ’s ongoing investigation into Israeli genocide in Gaza is now considering the illegality of Israel cutting off all food, water, fuel, medicine and other essential aid entering Gaza since early March.

    Countries submitting include the UK, Spain, Belgium and Malaysia.  New Zealand is not on the list for making a submission.

     

    PSNA Co-Chair Maher Nazzal says the New Zealand government has gone completely silent on Israeli atrocities in Gaza.

     

    “A year ago, the Prime Minister and Foreign Minister were making statements about how Israel must comply with international law.”

     

    “They carefully avoided blaming Israel for doing anything wrong, but they issued strong warnings, such as telling Israel that it should not attack the city of Rafah.”

     

    “Israel then bombed Rafah flat.  The New Zealand response was to go completely silent.

     

    “Israeli ministers are quite open about driving Palestinians out of Gaza, so Israel can build Israeli settlements there.  And they are just as open about using starvation as a weapon.”

     

    “Our government says and does nothing.  Chris Luxon had nothing to say about Gaza when he met British Prime Minister Keir Stamer in London earlier in the month.  Yet Israel is perpetuating the holocaust of the 21st Century under the noses of both Prime Ministers.”

     

    Maher Nazzal says that it is deeply disappointing that a nation which so proudly invokes its history of standing against apartheid and of championing nuclear disarmament, chooses to not even appear on the sidelines of the ICJ’s legal considerations.

     

    “New Zealand cannot claim to stand for a rules-based international order while selectively avoiding the rules when it comes to Palestine.”

     

    “We want the New Zealand government to urgently explain to the public its absence from the ICJ hearings.  We need it to commit to participating in all future international legal processes to uphold Palestinian rights, and fulfil its ICJ obligations to impose sanctions on Israel to force its withdrawal from the Palestinian Occupied Territory.”

     

    “If even small countries, such as Vanuatu, can commit their meagre resources to go to make a case to the ICJ, then surely our government can at the very least do the same.’

     

    See here for the official list of countries and other organisations submitting to the ICJ

    https://icj-cij.org/sites/default/files/case-related/196/196-20250423-pre-01-00-en.pdf

     

    Co-National Chair

    Palestine Solidarity Network Aotearoa

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Health – History shows patients at risk from Physician Associates – NZNO

    Source: New Zealand Nurses Organisation

    Avoidable harm caused to patients both in New Zealand and in the United Kingdom shows the introduction of physician associates is a risk to patient safety, New Zealand Nurses Organisation Tōpūtanga Tapuhi Kaitiaki o Aotearoa (NZNO) says.
    Health Minister Simeon Brown has announced that physician associates will be regulated as a new profession in New Zealand.
    NZNO President Anne Daniels says the introduction of the new, overseas trained workforce, leaves patients vulnerable to misdiagnoses or worse. Similar concerns have also been raised by the Resident Doctors’ Association.
    “Here in New Zealand there have been concerns physician associates have failed to take a patient’s blood pressure, leading to a brain bleed and loss of vision.
    “In the United Kingdom where physician associates have been part of the health sector for the past 20 years, there has been a litany of issues including the misdiagnosis of an aggressive breast cancer resulting in the death of a young mother, opiates illegally prescribed, failure to detect a deadly pulmonary embolism and a drain left in a patient’s abdomen.”
    Anne Daniels says nurses are focused on providing the safe, high-quality and culturally appropriate care New Zealanders expect and deserve.
    “The introduction of physician associates is an unnecessary quick and cheap fix to the doctor shortage when we have a competent and experienced nurse practitioner workforce available to do this work. The Minister must immediately stop the introduction and regulation of physician associates here,” she says. 

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Events – Unions to hold Nationwide Day of Action on May Day – CTU

    Source: CTU

    This Thursday 1 May (May Day) the union movement are holding a Nationwide Day of Action to fight back against the Government’s anti-worker agenda.

    Thousands of workers from a wide range of industries in both the public and private sectors will be taking action including participating in lunchtime hui, stop work meetings, and strike action, with key events in 12 centres from Whāngarei to Invercargill.

    “Every year on May Day workers and their unions around the world celebrate the union movement, our history, and our purpose – to build workers’ power and solidarity,” said NZCTU President Richard Wagstaff.

    “This year we are coming together to resist the ongoing assault on workers and unions in Aotearoa New Zealand over the past 18 months. This Government has declared war on working people. They are removing our rights, destroying jobs, and ruining the economy.

    “We are sending send a strong message to those in power that we demand a better deal for working people, and an end to the attack on unions. We will also be calling on the Government to deliver pay equity and honour Te Tiriti o Waitangi.

    “Workers are sick and tired of having their rights trampled on by this Government, and this Thursday will be out in force to demand change,” said Wagstaff.

    Details of nationwide events:

    Whāngarei

    Tarewa Park

    12-1pm

    Auckland

    Manukau Plaza

    12-1pm

    Hamilton

    Hamilton Lake Rose Garden

    12.30-1.30pm

    New Plymouth

    Huatoki Plaza

    12-1pm

    Mt Maunganui

    Hopukiore (Mt Drury) Reserve

    12-1pm

    Rotorua

    Ranolf & Arawa St roundabout  

    12-1pm

    Palmerston North

    Arena 3

    12.30-1.30pm

    Wellington

    Queens Wharf

    12-1pm

    Nelson

    1903 Square (Top of Trafalgar St)

    12.30-1.30pm

    Christchurch

    Addington Raceway

    12-1pm

    Dunedin

    Otago University Student Union Hall

    12.30-1.30pm

    Invercargill

    Workingmens Club

    12.30-1.30pm

     

    In addition to these main events, health unions have organised events at hospitals focusing on workers’ rights and the public health system. Details of those hui can be found herehttps://link.nzctu.org.nz/click/sDAAiSKYLKJS.j2KawNATEPiY.fn2P4wBdbh_/2BOtzy1a/3s/www.psa.org.nz/campaigns/fight-back-together-maranga-ake-2025

    MIL OSI New Zealand News

  • MIL-OSI Australia: Award winners impress with dedication and resilience

    Source: Northern Territory Police and Fire Services

    Ms Vando Celestina Emmy Rabi is the 2024 Young Canberran Citizen of the Year.


    In brief:

    • The 2024 Young Canberra Citizen of the Year Award recipients have been announced.
    • The Awards celebrate Canberrans aged 12 to 25 who have made a significant contribution to the community.
    • There are seven categories in this year’s Awards.

    A young African-Australian community leader has won the 2024 Young Canberran Citizen of the Year Award.

    Ms Vando Celestina Emmy Rabi is an Executive Youth Leader at the African Australian Council ACT. She uses her lived experience to be a role model for young people.

    In 2019, Ms Rabi emigrated from South Sudan, aged 15. She had lost both her parents at a young age.

    Today she encourages celebrating African culture in Canberra. She promotes social cohesion and engagement in the broader community.

    Her advocacy promotes inclusivity. It also fosters a greater understanding of the experiences and contributions of African Australians.

    Winners and commendations

    The Young Canberra Citizen of the Year Awards celebrate Canberrans aged 12 to 25 who have made a significant contribution to the ACT community.

    The awards celebrate young people for achievements in fields such as sport, education, science, culture, the arts and the environment.

    There were seven categories in this year’s Awards.

    Young Canberra Citizen of the Year Award

    Winner: Ms Vando Celestina Emmy Rabi

    Ms Rabi is an Executive Youth Leader at the African Australian Council ACT. She is a powerful advocate for African-Australian youth. She celebrates African culture and promotes social cohesion, helping to reduce isolation and the impact of racial abuse, while encouraging broader community engagement.

    Commendation: Ms Tahalianna Mahanga

    Young Achiever Award

    Winner: Mr Seth Burr

    Seth Burr is a Leadership group member at his school. He is also a mentor for younger students and a member of ACT Scouts. He participates in ANZAC Day marches, Gang Shows, peer monitoring, school musicals and fundraising events. 

    Commendation: Ms Emma Booth

    Personal Achievement Award

    Winner: Miss Jasmine Eldridge

    Jasmine Eldridge, a single mother, has overcome many personal challenges. She has gained a diploma in Educational Studies. Through lived experience she advocates for young people with disabilities.

    Commendation: Ms Jemma Rule

    Individual Community Service Award 

    Winner: Mx Madison (Casey) Barancewicz

    Mx Barancewicz is actively involved in Youth Advocacy Groups, projects. These include the ACT Youth Advisory Council, Disability Youth Reference Group, Unruly Girls Youth Ethics Advisory Group, Member and The ACT Child and Youth Mental Health Sector Alliance, the Youth Mental Health Youth Reference Group (YRG). 

    Commendation: Miss Sonali Varma

    Environment and Sustainability Award

    Winner: Ms Anjali Sharma

    Ms Sharma is a climate activist. She introduced a Bill with Senator David Pocock, called the Climate Change Amendment (Duty of Care and Intergenerational Equity) Bill. She did this to compel the Federal Government to take the health of young people into consideration when approving developments that may release greenhouse gases.

    Commendation: Ms Yuna Rougeaux

    Commendation: Ms Neve Larsen

    Arts and Multimedia Award 

    Winner: Ms Tahalianna Mahanga

    Ms Mahanga is a proud young Wiradjuri and Tongan woman. She performs as a solo vocalist. She is also a youth advocate, including the ACT Student Representative at the National School Reform Agreement Ministerial Reference Group. She was involved with The Mindyigari Centre for Excellence at Erindale College and the Gugan Gulwan Youth Association.

    Commendation: Ms Grace Flanagan

    Group Achievement Award

    Winner: St Mary MacKillop College

    The Year 12 cohort at St Mary MacKillop College designed the ‘Relay Your Way’ event. This local community initiative celebrates cancer survivorship, honours those we’ve lost, and spurs on the fight against cancer. They raised over $75,000 for the Relay for Life this year, the highest fundraising total for Relay for Life across Australia.

    Commendation: ACT Child and Youth Mental Health Sector Alliance Youth Reference Group

    Nomination and assessment

    Anyone can nominate a young person for an award. People can also self-nominate.

    The nominations are assessed by representatives from the:

    • ACT Youth Advisory Council
    • ACT Government
    • award category sponsor.

    View past award winners.

    Find out more about the Awards.

    Read more like this:


    Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:


    MIL OSI News

  • MIL-Evening Report: Election Diary: Albanese will be encouraged by ‘Trump’ effect in helping Canadian Liberals to victory

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Labor will be encouraged by the Liberals’ victory in Canada’s election, undoubtedly much helped by US President Donald Trump.

    Trump’s extraordinary attack on the United States’ northern ally, with his repeated suggestion Canada should be the 51st American state, galvanised voters. Former banker Mark Carney, seen as best able to deal with Trump, won the internal race to succeed Justin Trudeau as PM, and now has clinched the election. The Conservatives, favourites a few months ago, couldn’t compete.

    The Trump factor is not so dramatic in our election, but it is present and working for Labor. In a time of instability, some potential swinging voters are more inclined to opt for the status quo.

    Anthony Albanese said on Tuesday, “Mark Carney has stood for Canada’s national interests, just as I stand up for Australia’s national interest”.

    Australians don’t like Trump or his policies. A recent Lowy poll found people’s trust in the US to act responsibly in the world has dropped 20 points in a year, although they were nearly equally divided on whether Albanese or Peter Dutton would be better to handle the US and Trump.

    After initially thinking Trump’s election could assist the Coalition, Dutton has not been able to shake off the “Trump factor” since it became clear it was a drag.

    Meanwhile, Dutton was having another difficult day on the campaign trail on Tuesday. His electorate office had been vandalised (again) in the early hours. Then, when he visited a sporting ground in the highly marginal seat of Gilmore on the NSW south coast, three local unionists, outfitted in protective gear, turned up to play for the cameras at finding a spot for a nuclear reactor.

    In Gilmore former NSW transport minister Andrew Constance is making another run, after being narrowly pipped by Labor at the 2022 election.

    Dutton had planned to hold his news conference at the ground, but cancelled it and moved on. When the press conference finally happened, it was short but not sweet. Both leader and press pack were, by that stage, tetchy.

    Unlike his unfortunate experience on Sunday with the price of eggs, Dutton did pass the test when asked the inflation rate. He quickly answered 2.7%. This is not the headline rate, which is 2.4%, but it is the trimmed mean rate. That’s the rate preferred by the Reserve Bank, so he would get a tick from Governor Michele Bullock, even if his choice caused some confusion in the media. On Wednesday we get the March quarter CPI figures.

    How the leaders’ debates rated

    Nine won by a whisker the “ratings” contest among TV stations in the leaders’ debates, followed by the ABC. These are considered high figures for election debates. What we don’t know is how many viewers watched all four debates. Now that took some stamina!

    How voters rate former PMs

    Essential Research’s latest poll has an interesting table of people’s ratings of former prime ministers, with John Howard and Bob Hawke filling the first two spots.

    Howard, 85, remains in demand for Liberal campaigning. Speaking to The Conversation, he reels off quite a round of seats he’s visited, including Curtin, Tangey, Bullwinkel and Hasluck in Western Australia (all in a day and a half); Wentworth, Mackellar, Robertson, Warringhah and Bennelong (his old seat) in NSW, and Bruce in Melbourne. He agrees the campaign cycle is faster these days, but he obviously still relishes the smell of the political grease paint.

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Election Diary: Albanese will be encouraged by ‘Trump’ effect in helping Canadian Liberals to victory – https://theconversation.com/election-diary-albanese-will-be-encouraged-by-trump-effect-in-helping-canadian-liberals-to-victory-255387

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Banking: Outlaw cybergang attacking targets worldwide

    Source: Securelist – Kaspersky

    Headline: Outlaw cybergang attacking targets worldwide

    Introduction

    In a recent incident response case in Brazil, we dealt with a relatively simple, yet very effective threat focused on Linux environments. Outlaw (also known as “Dota”) is a Perl-based crypto mining botnet that typically takes advantage of weak or default SSH credentials for its operations. Previous research ([1], [2]) described Outlaw samples obtained from honeypots. In this article, we provide details from a real incident contained by Kaspersky, as well as publicly available telemetry data about the countries and territories most frequently targeted by the threat actor. Finally, we provide TTPs and best practices that security practitioners can adopt to protect their infrastructures against this type of threat.

    Analysis

    We started the analysis by gathering relevant evidence from a compromised Linux system. We identified an odd authorized SSH key for a user called suporte (in a Portuguese-speaking environment, this is an account typically used for administrative tasks in the operating system). Such accounts are often configured to have the same username as the password, which is a bad practice, making it easy for the attackers to exploit them. The authorized key belonged to a remote Linux machine user called mdrfckr, a string found in Dota campaigns, which raised our suspicion.

    Suspicious authorized key

    After the initial SSH compromise, the threat actor downloads the first-stage script, tddwrt7s.sh, using utilities like wget or curl. This artifact is responsible for downloading the dota.tar.gz file from the attackers’ server. Below is the sequence of commands performed by the attacker to obtain and decompress this file, which is rather typical of them. It is interesting to note that the adversary uses both of the previously mentioned utilities to try to download the artifact, since the system may not have one or another.

    Chain of commands used by the attackers to download and decompress dota.tar.gz

    After the decompression, a hidden directory, named “.configrc5”, was created in the user’s home directory with the following structure:

    .configrc5 directory structure

    Interestingly enough, one of the first execution steps is checking if other known miners are present on the machine using the script a/init0. If any miners are found, the script tries to kill and block their execution. One reason for this is to avoid possible overuse of the RAM and CPU on the target machine.

    Routine for killing and blocking known miners

    The script also monitors running processes, identifies any that use 40% or more CPU by executing the command ps axf o “pid %cpu”, and for each such process, checks its command line (/proc/$procid/cmdline) for keywords like “kswapd0”, “tsm”, “rsync”, “tor”, “httpd”, “blitz”, or “mass” using the grep command. If none of these keywords are found ( grep doesn’t return zero), the process is forcefully killed with the kill 9 command; otherwise, the script prints “don’t kill”, effectively whitelisting Outlaw’s known or expected high-CPU processes, so it doesn’t accidentally kill them.

    Processes checks performed by the threat

    After the process checks and killing are done, the b/run file is executed, which is responsible for maintaining persistence on the infected machine and executing next-stage malware from its code. For persistence purposes, the attackers used the following command to wipe the existing SSH setup, create a clean .ssh folder, add a new public key for SSH access, and lock down permissions.

    The next-stage malware is a Base64-encoded string inside the b/run script that, once decoded, reveals another level of obfuscation: this time an obfuscated Perl script. Interestingly, the attackers left a comment generated by the obfuscator (perlobfuscator.com) in place.

    Obfuscated Perl script

    We were able to easily deobfuscate the code using an open-source script available on the same website as used by the attackers (https://perlobfuscator.com/decode-stunnix-5.17.1.pl), which led us to the original source code containing a few words in Portuguese.

    Deobfuscated Perl script

    This Perl script is an IRC-based botnet client that acts as a backdoor on a compromised system. Upon execution, it disguises itself as an rsync process, creates a copy of itself in the background, and ignores termination signals. By default, it connects to a hardcoded IRC server over port 443 using randomly generated nicknames, joining predefined channels to await commands from designated administrators. The bot supports a range of malicious features including command execution, DDoS attacks, port scans, file download, and upload via HTTP. This provides the attackers with a wide range of capabilities to command and control the botnet.

    XMRig miner

    Another file from the hidden directory, a/kswapd0, is an ELF packed using UPX, as shown in the image below. We were able to easily unpack the binary for analysis.

    kswapd0 identification and unpacking

    By querying the hash on threat intelligence portals and by statically analyzing the sample, it became clear that this binary is a malicious modified version of XMRig (6.19.0), a cryptocurrency miner.

    XMRig version

    We also found a configuration file embedded in the binary. This file contains the attacker’s mining information. In our scenario, the configuration was set up to mine Monero using the CPU only, with both OpenCL and CUDA (for GPU mining) disabled. The miner runs in the background, configured for high CPU usage. It also connects to multiple mining pools, including one accessible via Tor, which explains the presence of Tor files inside the .configrc5/a directory. The image below shows an excerpt from this configuration file.

    XMRig custom configuration

    Victims

    Through telemetry data collected from public feeds, we have identified victims of the Outlaw gang mainly in the United States, but also in Germany, Italy, Thailand, Singapore, Taiwan, Canada and Brazil, as shown in the chart below.

    Countries and territories where Outlaw is most activedownload)

    The following chart shows the distribution of recent victims. We can see that the group was idle from December 2024 through February 2025, then a spike in the number of victims was observed in March 2025.

    Number of Outlaw victims by month, September 2024–March 2025 (download)

    Recommendations

    Since Outlaw exploits weak or default SSH passwords, we recommend that system administrators adopt a proactive approach to hardening their servers. This can be achieved through custom server configurations and by keeping services up to date. Even simple practices, such as using key-based authentication, can be highly effective. However, the /etc/ssh/sshd_config file allows for the use of several additional parameters to improve security. Some general configurations include:

    • Port : changes the default SSH port to reduce exposure to automated scans.
    • Protocol 2: enforces the use of the more secure protocol version.
    • PermitRootLogin no: disables direct login as the root user.
    • MaxAuthTries : limits the number of authentication attempts per session.
    • LoginGraceTime : defines the amount of time allowed to complete the login process (in seconds unless specified otherwise).
    • PasswordAuthentication no: disables password-based login.
    • PermitEmptyPasswords no: prevents login with empty passwords.
    • X11Forwarding no: disables X11 forwarding (used for running graphical applications remotely).
    • PermitUserEnvironment no: prevents users from passing environment variables.
    • Banner /etc/ssh/custom_banner: customizes the system login banner.

    Consider disabling unused authentication protocols:

    • ChallengeResponseAuthentication no
    • KerberosAuthentication no
    • GSSAPIAuthentication no

    Disable tunneling options to prevent misuse of the SSH tunnel feature:

    • AllowAgentForwarding no
    • AllowTcpForwarding no
    • PermitTunnel no

    You can limit SSH access to specific IPs or networks using the AllowUsers directive:

    • AllowUsers *@10.10.10.217
    • AllowUsers *@192.168.0.0/24

    Enable public key authentication with:

    • PubkeyAuthentication yes

    Set parameters to automatically disconnect idle sessions:

    • ClientAliveInterval
    • ClientAliveCountMax

    The following configuration file serves as a template for hardening the SSH service:

    While outside sshd_config, pairing your config with tools like Fail2Ban or firewalld rate limiting adds another solid layer of protection against brute force.

    Conclusion

    By focusing on weak or default SSH credentials, Outlaw keeps improving and broadening its Linux-focused toolkit. The group uses a range of evasion strategies, such as concealing files and folders or obfuscated programs, and uses compromised SSH keys to keep access for as long as possible. The IRC-based botnet client facilitates a wide range of harmful operations, such as command execution, flooding, and scanning, while the deployment of customized XMRig miners can divert processing resources to cryptocurrency mining. By hardening SSH configurations (for instance, turning off password authentication), keeping an eye out for questionable processes, and limiting SSH access to trustworthy users and networks, system administrators can greatly lessen this hazard.

    Tactics, techniques and procedures

    Below are the Outlaw TTPs identified from our malware analysis.

    Tactic Technique ID
    Execution Command and Scripting Interpreter: Unix Shell T1059.004
    Persistence Scheduled Task/Job: Cron T1053.003
    Persistence Account Manipulation: SSH Authorized Keys T1098.004
    Defense Evasion Obfuscated Files or Information T1027
    Defense Evasion Indicator Removal: File Deletion T1070.004
    Defense Evasion File and Directory Permissions Modification T1222
    Defense Evasion Hide Artifacts: Hidden Files and Directories T1564.001
    Defense Evasion Obfuscated Files or Information: Software Packing T1027.002
    Credential Access Brute Force T1110
    Discovery System Information Discovery T1082
    Discovery Process Discovery T1057
    Discovery Account Discovery T1087
    Discovery System Owner/User Discovery T1033
    Discovery System Network Connections Discovery T1049
    Lateral Movement Remote Services: SSH T1021.004
    Collection Data from Local System T1005
    Command and Control Application Layer Protocol T1071
    Command and Control Ingress Tool Transfer T1105
    Exfiltration Exfiltration Over Alternative Protocol T1048
    Impact Resource Hijacking T1496
    Impact Service Stop T1489

    Indicators of Compromise

    MIL OSI Global Banks

  • MIL-OSI Asia-Pac: President Lai meets NBR delegation  

    Source: Republic of China Taiwan

    Details
    2025-04-28
    President Lai meets Japanese Diet Member and former Minister of State for Economic Security Takaichi Sanae
    On the afternoon of April 28, President Lai Ching-te met with a delegation led by Member of the Japanese House of Representatives and former Minister of State for Economic Security Takaichi Sanae. In remarks, President Lai thanked the government of Japan for repeatedly emphasizing the importance of peace and stability across the Taiwan Strait at important international venues. The president expressed hope that in the face of China’s continually expanding red supply chains, Taiwan and Japan can continue to cooperate closely in such fields as semiconductors, energy, and AI technology to create non-red supply chains that enhance economic resilience and industrial competitiveness for both sides, and jointly pave the way for further prosperity and growth in the Indo-Pacific region. A translation of President Lai’s remarks follows: First, I would like to extend a warm welcome to Representative Takaichi as she returns for another visit to Taiwan. I am also very happy to have Members of the House of Representatives Kikawada Hitoshi and Ozaki Masanao, and Member of the House of Councillors Sato Kei all gathered together here to engage in these very important exchanges. Our visitors will be taking part in many exchange activities during this trip. Earlier today at the Indo-Pacific Strategy Thinktank’s International Political and Economic Forum, Representative Takaichi delivered a speech in which she clearly demonstrated the great importance she places upon the friendship between Taiwan and Japan. For this I want to express my deepest appreciation to each of our guests. The peoples of Taiwan and Japan have a deep friendship and mutual trust. We have a shared commitment to the universal values of democracy, freedom, and respect for human rights, but beyond that, we both have striven to contribute to regional peace and stability. I also want to thank the government of Japan for repeatedly emphasizing the importance of peace and stability across the Taiwan Strait at important international venues. Tomorrow you will all make a trip to Kaohsiung to visit a bronze statue of former Prime Minister Abe Shinzo, who once said, “If Taiwan has a problem, then Japan has a problem.” We will always remember the firm support and friendship he showed Taiwan. Since taking office last year, I have worked hard to improve Taiwan’s whole-of-society defense resilience and implement our Four Pillars of Peace action plan. By strengthening our national defense capabilities, building up economic security, demonstrating stable and principled cross-strait leadership, and deepening partnerships with democratic countries including Japan, we can together maintain peace and stability in the Indo-Pacific region and across the Taiwan Strait. At the same time, in the face of China’s continually expanding red supply chains, we hope that Taiwan and Japan, as important economic and trade partners, can continue to cooperate closely in such fields as semiconductors, energy, and AI technology to create non-red supply chains that further enhance economic resilience and industrial competitiveness for both sides. Going forward, Taiwan will work hard to play an important role in the international community and contribute its key strengths. I hope that, with the support of our guests, Taiwan can soon accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and sign an economic partnership agreement (EPA) with Japan so that we can jointly pave the way for further prosperity and growth in the Indo-Pacific region. Lastly, I thank each of you once again for taking concrete action to support Taiwan. I am confident that your visit will help deepen Taiwan-Japan ties and create even greater opportunities for cooperation. Let us all strive together to keep propelling Taiwan-Japan relations forward.  Representative Takaichi then delivered remarks, first thanking President Lai and Taiwanese political leaders for the warm hospitality they extended to the delegation, and mentioning that the visiting delegation members are all like-minded partners carrying on the legacy of former Prime Minister Abe. July 8 this year will mark the third anniversary of the passing of former Prime Minister Abe, she said, and when the former prime minister unfortunately passed away, President Lai, then serving as vice president, was among the first to come offer condolences, for which she expressed sincere admiration and gratitude. Representative Takaichi stated that Taiwan and Japan are island nations that face the same circumstances and problems, and that Japan’s trade activities rely heavily on ocean transport, so once a problem arises nearby that threatens maritime shipping lanes, it will be a matter of life and death for Japan. Taiwan and Japan are similar, as once a problem arises, both will face food and energy security issues, and supply chains may even be threatened, she said. Regarding Taiwan-Japan cooperation, Representative Takaichi stated that both sides must first protect and strengthen supply chain resilience. President Lai has previously said that he wants to turn Taiwan into an AI island, she said, and in semiconductors, Taiwan has the world’s leading technology. Representative Takaichi went on to say that Taiwan and Japan can collaborate in the fields of AI and semiconductors, quantum computing, and dual-use industries, as well as in areas such as drones and new energy technologies to build more resilient supply chains, so that if problems arise, we can maintain our current standard of living with peace of mind. Representative Takaichi indicated that cooperation in the defense sector is also crucial, and that by uniting like-minded countries including Taiwan, the United States, Japan, the Philippines, and Australia, and even countries in Europe, we can build a stronger network to jointly maintain our security guarantees. Representative Takaichi expressed hope that Taiwan and Japan will continue to strengthen substantive non-governmental relations, including personnel exchange visits and information sharing, so that we can jointly face and respond to crises when they arise. Regarding the hope to sign a Taiwan-Japan EPA that President Lai had mentioned earlier, she also expressed support and said she looks forward to upcoming exchanges and talks. The visiting delegation also included Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-04-23
    President Lai delivers remarks at International Holocaust Remembrance Day event
    On the afternoon of April 23, President Lai Ching-te attended an International Holocaust Remembrance Day event and delivered remarks, in which he emphasized that peace is priceless, and war has no winners, while morality, democracy, and respect for human rights are powerful forces against violence and tyranny. The president stated that Taiwan will continue to expand cooperation with democratic partners and safeguard regional and global peace and stability, defending democracy, freedom, and human rights. He said we must never forget history, and must overcome our differences and join in solidarity to ensure that the next generations live in a world that is more just and more peaceful. Upon arriving at the event, President Lai heard a testimony from the granddaughter of a Holocaust survivor, followed by a rabbi’s recitation of the prayer “El Maleh Rachamim.” He then joined other distinguished guests in lighting candles in memory of the victims. A transcript of President Lai’s remarks follows: To begin, I want to thank the Israel Economic and Cultural Office (ISECO) in Taipei, German Institute Taipei, Taiwan Foundation for Democracy, and Ministry of Foreign Affairs for co-organizing this deeply significant memorial ceremony again this year. I also want to thank everyone for attending. We are here today to remember the victims of the Holocaust, express sympathy for the survivors, honor the brave individuals who protected the victims, and acknowledge all who were impacted by this atrocity. It was deeply moving to hear Ms. [Orly] Sela share the story of how her grandmother, Yehudit Biksz, escaped the Nazi regime. I want to thank her specially for traveling so far to attend this event. From the 1930s through World War II, the Nazi regime sought to exclude Jewish people from society. In their campaign, they perpetrated systematic genocide driven by their ideology. Policies and directives under the authoritarian Nazi regime resulted in the deaths of approximately 6 million Jews. Millions of others were persecuted, including Romani people, persons with disabilities, the gay community, and anyone who disagreed with Nazi ideology. It is one of the darkest chapters in human history. Many countries, including Taiwan, have enacted anti-massacre legislation, and observe a remembrance day each year. Those occasions help us remember the victims, preserve historical memory, and most importantly, reinforce our resolve to fight against hatred and discrimination. Twenty-three years ago, Chelujan (車路墘) Church in Tainan founded the Taiwan Holocaust Memorial Museum. It is the first Jewish museum in Taiwan, and the second Holocaust museum in Asia. Its founding mission urges us to forget hatred and love one another; put an end to war and advocate peace. Many of the exhibition items come from Jewish people, connecting Taiwan closer with Israel and helping Taiwanese better understand the experiences of Jewish people. In this way, we grow to more deeply cherish peace. When I was mayor of Tainan, I took part in an exhibition event at Chelujan Church. I was also invited by the Israeli government to join the International Mayors Conference in Israel, where I visited the World Holocaust Remembrance Center. I will never forget how deeply that experience moved me, and as a result, peace and human rights became even more important issues for me. These issues are valued by Taiwan and our friends and allies. They are also important links connecting Taiwan with the world. Peace is priceless, and war has no winners. We will continue to expand cooperation with democratic partners and safeguard regional and global peace and stability. We will also continue to make greater contributions and work with the international community to defend democracy, freedom, and human rights. This year also marks the 80th anniversary of the end of World War II. However, we still see wars raging around the world. We see a resurgence of authoritarian powers, which could severely impact global democracy, peace, and prosperous development. Today’s event allows for more than reflection on the past; it also serves as a warning for the future. We are reminded of the threats that hatred, prejudice, and extremism pose to humanity. But we are also reminded that morality, democracy, and respect for human rights are powerful forces against violence and tyranny. We must never forget history. We must overcome our differences and join in solidarity for a better future. Let’s work together to ensure that the next generations live in a world that is more just and more peaceful. Also in attendance at the event were Member of the Israeli Knesset (parliament) and Taiwan friendship group Chair Boaz Toporovsky, ISECO Representative Maya Yaron, and German Institute Taipei Deputy Director General Andreas Hofem.

    Details
    2025-04-23
    President Lai pays respects to Pope Francis  
    On the morning of April 23, President Lai Ching-te visited the Taipei Archdiocesan Curia to pay respects in a memorial ceremony for His Holiness Pope Francis. As officiant of the ceremony, President Lai burned incense and presented flowers, fruits, and wine to pay his respects to Pope Francis. At the direction of the master of ceremonies, the president then bowed three times in front of Pope Francis’s memorial portrait, conveying his grief and deep respect for the late pope. After hearing of Pope Francis’s passing on April 21, President Lai promptly requested the Ministry of Foreign Affairs to express sincere condolences from the people and government of Taiwan to the Vatican. The president also instructed Minister of Foreign Affairs Lin Chia-lung (林佳龍) to convey condolences to the Holy See’s Apostolic Nunciature in Taiwan.  

    Details
    2025-04-23
    President Lai meets US CNAS NextGen fellows
    On the morning of April 23, President Lai Ching-te met with fellows from the Shawn Brimley Next Generation National Security Leaders Program (NextGen) run by the Center for a New American Security (CNAS). In remarks, President Lai thanked the government of the United States for continuing its arms sales to Taiwan over the years, supporting Taiwan’s efforts to enhance its national defense capabilities and jointly maintaining peace and stability in the Indo-Pacific region. The president pointed out that we will promote our “Taiwan plus one” policy, that is, new arrangements for Taiwan plus the US, and form a “Taiwan investment in the US team” to expand investment and bring about even closer Taiwan-US trade cooperation, allowing us to reduce the trade deficit and generate development that benefits both sides. A translation of President Lai’s remarks follows: Ms. Michèle Flournoy, chair of the CNAS Board of Directors, is a good friend of Taiwan, and she has made major contributions to Taiwan-US relations through her long-time efforts on various aspects of our cooperation. I am happy to welcome Chair Flournoy, who is once again leading a NextGen Fellowship delegation to Taiwan. CNAS is a prominent think tank focusing on US national security and defense policy based in Washington, DC. Its NextGen Fellowship has fostered talented individuals in the fields of national security and foreign affairs. This year’s delegation is significantly larger than those of the past, demonstrating the increased importance that the next generation of US leaders attach to Taiwan. On behalf of the people of Taiwan, I extend my sincerest welcome to you all. The Taiwan Strait, an issue of importance for our guests, has become a global issue. There is a high degree of international consensus that peace and stability across the Taiwan Strait are indispensable elements in global security and prosperity. Facing military threats from China, Taiwan proposed the Four Pillars of Peace action plan. First, we are actively implementing military reforms, enhancing whole-of-society defense resilience, and working to increase our defense budget to more than 3 percent of GDP. Second, we are strengthening our economic resilience. As Taiwan’s economy must keep advancing, we can no longer put all our eggs in one basket. We are taking action to remain firmly rooted in Taiwan while expanding our global presence and marketing worldwide. In these efforts, we are already seeing results. Third, we are standing side-by-side with other democratic countries to demonstrate the strength of deterrence and achieve our goal of peace through strength. And fourth, Taiwan is willing, under the principles of parity and dignity, to conduct exchanges and cooperate with China towards achieving peace and stability in the Taiwan Strait. This April 10 marked the 46th anniversary of the enactment of the Taiwan Relations Act. We thank the US government for continuing its arms sales to Taiwan over the years, supporting Taiwan’s efforts to enhance its national defense capabilities and jointly maintaining peace and stability in the Indo-Pacific region. We look forward to Taiwan and the US continuing to strengthen collaboration on the development of both our defense industries as well as the building of non-red supply chains. This will yield even more results and further deepen our economic and trade partnership. The US is now the main destination for outbound investment from Taiwan. Moving forward, we will promote our “Taiwan plus one” policy, that is, new arrangements for Taiwan plus the US. And our government will form a “Taiwan investment in the US team” to expand investment. We hope this will bring Taiwan-US economic and trade cooperation even closer and, through mutually beneficial assistance, allow us to generate development that benefits both our sides while reducing our trade deficit. In closing, thank you once again for visiting Taiwan. We hope your trip is fruitful and leaves you with a deep impression of Taiwan. We also hope that going forward you continue supporting Taiwan and advancing even greater development for Taiwan-US ties.  Chair Flournoy then delivered remarks, first thanking President Lai for making time to receive their delegation. Referring to President Lai’s earlier remarks, she said that it is quite an impressive group, as past members of this program have gone on to become members of the US Congress, leading government experts, and leaders in the think-tank world and in the private sector. She remarked that investing in this group is a wonderful privilege for her and that they appreciate President Lai’s agreeing to take the time to engage in exchange with them. Chair Flournoy emphasized that they are visiting Taiwan at a critical moment, when there is so much change and volatility in the geostrategic environment, a lot of uncertainty, and a lot of unpredictability. She stated that given our shared values, our shared passion for democracy and human rights, and our shared interests in peace and stability in the Indo-Pacific region, this is an important time for dialogue, collaboration, and looking for additional opportunities where we can work together towards regional peace and stability.

    Details
    2025-04-18
    President Lai meets US delegation from Senate Foreign Relations Subcommittee on East Asia and the Pacific
    On the afternoon of April 18, President Lai Ching-te met with a delegation led by Senator Pete Ricketts, chairman of the United States Senate Foreign Relations Subcommittee on East Asia, the Pacific, and International Cybersecurity Policy. In remarks, President Lai said we hope to promote our Taiwan plus one policy, that is, new industrial arrangements for Taiwan plus the US, to leverage the strengths of both sides and reinforce our links in such areas as the economy, trade, and technological innovation. The president said that by deepening cooperation, Taiwan and the US will be better positioned to work together on building non-red supply chains. He said a more secure and sustainable economic and trade partnership will allow us to address the challenges posed by geopolitics, climate change, and the restructuring of global supply chains. A translation of President Lai’s remarks follows: I warmly welcome you all to Taiwan. I want to take this opportunity to especially thank Chairman Pete Ricketts and Ranking Member Chris Coons for their high regard and support for Taiwan. Chairman Ricketts has elected to visit Taiwan on his first overseas trip since taking up his new position in January. Ranking Member Coons made a dedicated trip to Taiwan in 2021 to announce a donation of COVID-19 vaccines on behalf of the US government. He also visited last May, soon after my inauguration, continuing to deepen Taiwan-US exchanges. Thanks to support from Chairman Ricketts and Ranking Member Coons, the US Congress has continued to introduce many concrete initiatives and resources to assist Taiwan through the National Defense Authorization Act and Consolidated Appropriations Act, bringing the Taiwan-US partnership even closer. For this, I want to again express my gratitude. There has long been bipartisan support in the US Congress for maintaining security in the Taiwan Strait. Faced with China’s persistent political and military intimidation, Taiwan will endeavor to reform national defense and enhance whole-of-society defense resilience. We will also make special budget allocations to ensure that our defense budget exceeds 3 percent of GDP, up from the current 2.5 percent, so as to enhance Taiwan’s self-defense capabilities. We look forward to Taiwan and the US continuing to work together to maintain peace and stability in the region. We will also promote our Taiwan plus one policy, that is, new industrial arrangements for Taiwan plus the US. We hope to leverage the strengths of both sides and reinforce our links in such areas as the economy, trade, and technological innovation, jointly promoting prosperity and development. We believe that by deepening cooperation through the Taiwan plus one policy, Taiwan and the US will be better positioned to work together on building non-red supply chains. A more secure and sustainable economic and trade partnership will allow us to address the challenges posed by geopolitics, climate change, and the restructuring of global supply chains. In closing, I wish Chairman Ricketts and Ranking Member Coons a smooth and successful visit. Chairman Ricketts then delivered remarks, first thanking President Lai for his hospitality. He said that he and his delegation have had a wonderful time meeting with government officials, industry representatives, and the team at the American Institute in Taiwan. Highlighting that Taiwan has long been a friend and partner of the US, he said their bipartisan delegation to Taiwan emphasizes long-time bipartisan support in the US Congress for Taiwan, and though administrations change, that bipartisan support remains. Chairman Ricketts stated that the US is committed to peace and stability in the Indo-Pacific and that they want to see peace across the Taiwan Strait. He also stated that the US opposes any unilateral change in the status of Taiwan and that they expect any differences between Taiwan and China to be resolved peacefully without coercion or the threat of force. To that end, he said, the US will continue to assist Taiwan in its self-defense and will also step up by bolstering its own defense capabilities, noting that there is broad consensus on this in the US Congress. Chairman Ricketts stated that they want to see Taiwan participate in international organizations and memberships where appropriate, and encourage Taiwan to reach out to current and past diplomatic allies to strengthen those bilateral relationships. He pointed out that the long economic relationship between the US and Taiwan is important for our as well as the entire world’s security and prosperity. He also noted that there are many opportunities for us to continue to grow the economic relationship that will help create more prosperity for our respective peoples and ensure that we are more secure in the world. Chairman Ricketts emphasized that they made this trip early on in the new US administration to work with Taiwan to develop three points: security, diplomatic relations, and the economy. He stated that in the face of rising aggression from communist China, the US will provide commensurate help to Taiwan in self-defense and that they will continue to provide the services and tools needed. In closing, Chairman Ricketts once again thanked President Lai for the hospitality and said he looks forward to dialogue on how we can continue these relationships. Ranking Member Coons then delivered remarks. Mentioning that their delegation also visited the Philippines on this trip, he said that there and in Taiwan, they have been focused on peace, stability, and security, and the ways for deepening and strengthening economic and security relations. He noted that 46 years ago, the US Senate passed the Taiwan Relations Act, adding that it was strongly bipartisan when enacted and that support for it is still strongly bipartisan today. Its core commitment, he said, is that the US will be engaged and will be a partner in ensuring that any dispute or challenge across the strait will be resolved peacefully, and that Taiwan will have the resources it needs for its self-defense. Ranking Member Coons said that between people, friendships are deepest and most enduring when they are based not just on interests but on values, and that the same is true between the US and Taiwan. Free press, free enterprise, free societies, democracy – these core shared values, he said, anchor our friendship and partnership, making them deeper. He remarked that they are grateful for the significant investment in the US being made by companies from Taiwan, but what anchors our partnership, in addition to these important investments and investments being made by Taiwan in its own security, are the values that mobilize our free-enterprise spirit and our commitment to free societies. In Europe in recent years, Ranking Member Coons said, an aggressive nation has tried to change boundaries and change history by force. He said that the US and dozens of countries committed to freedom have come to the aid of Ukraine to defend it, help it stabilize, and secure its future. So too in this region of the world, he added, the US and a bipartisan group in the US Senate are committed to stable, secure, peaceful relations and to deterring any unilateral effort to change the status quo by force. In closing, he said he is grateful for a chance to return to Taiwan after the pandemic and that he looks forward to our conversation, our partnership, and the important work we have in front of us. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-04-06
    President Lai delivers remarks on US tariff policy response
    On April 6, President Lai Ching-te delivered recorded remarks regarding the impact of the 32 percent tariff that the United States government recently imposed on imports from Taiwan in the name of reciprocity. In his remarks, President Lai explained that the government will adopt five response strategies, including making every effort to improve reciprocal tariff rates through negotiations, adopting a support plan for affected domestic industries, adopting medium- and long-term economic development plans, forming new “Taiwan plus the US” arrangements, and launching industry listening tours. The president emphasized that as we face this latest challenge, the government and civil society will work hand in hand, and expressed hope that all parties, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. A translation of President Lai’s remarks follows: My fellow citizens, good evening. The US government recently announced higher tariffs on countries around the world in the name of reciprocity, including imposing a 32 percent tariff on imports from Taiwan. This is bound to have a major impact on our nation. Various countries have already responded, and some have even adopted retaliatory measures. Tremendous changes in the global economy are expected. Taiwan is an export-led economy, and in facing future challenges there will inevitably be difficulties, so we must proceed carefully to turn danger into safety. During this time, I want to express gratitude to all sectors of society for providing valuable opinions, which the government regards highly, and will use as a reference to make policy decisions.  However, if we calmly and carefully analyze Taiwan’s trade with the US, we find that last year Taiwan’s exports to the US were valued at US$111.4 billion, accounting for 23.4 percent of total export value, with the other 75-plus percent of products sold worldwide to countries other than the US. Of products sold to the US, competitive ICT products and electronic components accounted for 65.4 percent. This shows that Taiwan’s economy does still have considerable resilience. As long as our response strategies are appropriate, and the public and private sectors join forces, we can reduce impacts. Please do not panic. To address the reciprocal tariffs by the US, Taiwan has no plans to adopt retaliatory tariffs. There will be no change in corporate investment commitments to the US, as long as they are consistent with national interests. But we must ensure the US clearly understands Taiwan’s contributions to US economic development. More importantly, we must actively seek to understand changes in the global economic situation, strengthen Taiwan-US industry cooperation, elevate the status of Taiwan industries in global supply chains, and with safeguarding the continued development of Taiwan’s economy as our goal, adopt the following five strategies to respond. Strategy one: Make every effort to improve reciprocal tariff rates through negotiations using the following five methods:  1. Taiwan has already formed a negotiation team led by Vice Premier Cheng Li-chiun (鄭麗君). The team includes members from the National Security Council, the Office of Trade Negotiations, and relevant Executive Yuan ministries and agencies, as well as academia and industry. Like the US-Mexico-Canada free trade agreement, negotiations on tariffs can start from Taiwan-US bilateral zero-tariff treatment. 2. To expand purchases from the US and thereby reduce the trade deficit, the Executive Yuan has already completed an inventory regarding large-scale procurement plans for agricultural, industrial, petroleum, and natural gas products, and the Ministry of National Defense has also proposed a military procurement list. All procurement plans will be actively pursued. 3. Expand investments in the US. Taiwan’s cumulative investment in the US already exceeds US$100 billion, creating approximately 400,000 jobs. In the future, in addition to increased investment in the US by Taiwan Semiconductor Manufacturing Company, other industries such as electronics, ICT, petrochemicals, and natural gas can all increase their US investments, deepening Taiwan-US industry cooperation. Taiwan’s government has helped form a “Taiwan investment in the US” team, and hopes that the US will reciprocate by forming a “US investment in Taiwan” team to bring about closer Taiwan-US trade cooperation, jointly creating a future economic golden age.  4. We must eliminate non-tariff barriers to trade. Non-tariff barriers are an indicator by which the US assesses whether a trading partner is trading fairly with the US. Therefore, we will proactively resolve longstanding non-tariff barriers so that negotiations can proceed more smoothly. 5. We must resolve two issues that have been matters of longstanding concern to the US. One regards high-tech export controls, and the other regards illegal transshipment of dumped goods, otherwise referred to as “origin washing.” Strategy two: We must adopt a plan for supporting our industries. For industries that will be affected by the tariffs, and especially traditional industries as well as micro-, small-, and medium-sized enterprises, we will provide timely and needed support and assistance. Premier Cho Jung-tai (卓榮泰) and his administrative team recently announced a package of 20 specific measures designed to address nine areas. Moving forward, the support we provide to different industries will depend on how they are affected by the tariffs, will take into account the particular features of each industry, and will help each industry innovate, upgrade, and transform. Strategy three: We must adopt medium- and long-term economic development plans. At this point in time, our government must simultaneously adopt new strategies for economic and industrial development. This is also the fundamental path to solutions for future economic challenges. The government will proactively cooperate with friends and allies, develop a diverse range of markets, and achieve closer integration of entities in the upper, middle, and lower reaches of industrial supply chains. This course of action will make Taiwan’s industrial ecosystem more complete, and will help Taiwanese industries upgrade and transform. We must also make good use of the competitive advantages we possess in such areas as semiconductor manufacturing, integrated chip design, ICT, and smart manufacturing to build Taiwan into an AI island, and promote relevant applications for food, clothing, housing, and transportation, as well as military, security and surveillance, next-generation communications, and the medical and health and wellness industries as we advance toward a smarter, more sustainable, and more prosperous new Taiwan. Strategy four: “Taiwan plus one,” i.e., new “Taiwan plus the US” arrangements: While staying firmly rooted in Taiwan, our enterprises are expanding their global presence and marketing worldwide. This has been our national economic development strategy, and the most important aspect is maintaining a solid base here in Taiwan. We absolutely must maintain a solid footing, and cannot allow the present strife to cause us to waver. Therefore, our government will incentivize investments, carry out deregulation, and continue to improve Taiwan’s investment climate by actively resolving problems involving access to water, electricity, land, human resources, and professional talent. This will enable corporations to stay in Taiwan and continue investing here. In addition, we must also help the overseas manufacturing facilities of offshore Taiwanese businesses to make necessary adjustments to support our “Taiwan plus one” policy, in that our national economic development strategy will be adjusted as follows: to stay firmly rooted in Taiwan while expanding our global presence, strengthening US ties, and marketing worldwide. We intend to make use of the new state of supply chains to strengthen cooperation between Taiwanese and US industries, and gain further access to US markets. Strategy five: Launch industry listening tours: All industrial firms, regardless of sector or size, will be affected to some degree once the US reciprocal tariffs go into effect. The administrative teams led by myself and Premier Cho will hear out industry concerns so that we can quickly resolve problems and make sure policies meet actual needs. My fellow citizens, over the past half-century and more, Taiwan has been through two energy crises, the Asian financial crisis, the global financial crisis, and pandemics. We have been able to not only withstand one test after another, but even turn crises into opportunities. The Taiwanese economy has emerged from these crises stronger and more resilient than ever. As we face this latest challenge, the government and civil society will work hand in hand, and I hope that all parties in the legislature, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. Let us join together and give it our all. Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: #2025-005 – NEWS RELEASE-MONTHLY SIREN AND EMERGENCY ALERT SYSTEM TEST-MAY 2025

    Source: US State of Hawaii

    #2025-005 – NEWS RELEASE-MONTHLY SIREN AND EMERGENCY ALERT SYSTEM TEST-MAY 2025

    Posted on Apr 28, 2025 in Latest Department News, Newsroom

    DEPARTMENT OF DEFENSE

    KA ʻOIHANA PILI KAUA

     

    HAWAIʻI EMERGENCY MANAGEMENT AGENCY

    KEʻENA HOʻOMALU PŌULIA O HAWAIʻI

     

    JOSH GREEN, M.D.

    GOVERNOR

    KE KIAʻĀINA

    MAJOR GENERAL STEPHEN F. LOGAN

    DIRECTOR OF EMERGENCY MANAGEMENT
    LUNA HOʻOMALU PŌULIA

    JAMES DS. BARROS

    ADMINISTRATOR OF EMERGENCY MANAGEMENT
    KAHU HOʻOMALU PŌULIA

    MONTHLY SIREN AND EMERGENCY ALERT SYSTEM TEST FOR MAY 2025

    For Immediate Release                                                                                                                                                                                    2025-005

    April 28, 2025

    HONOLULU – The monthly test of the all-hazard Statewide Outdoor Warning Siren System is scheduled for Thursday, May 1, 2025, at 11:45 a.m. The siren test will be coordinated with a test of the Live Audio Broadcast segment of the Emergency Alert System.

    During this monthly test, all Statewide Outdoor Warning Sirens will sound a one-minute Attention Alert Signal (steady tone). A test of the Live Audio Broadcast segment of the Emergency Alert System is conducted at roughly the same time as the monthly siren sounding, in cooperation with the Hawai‘i broadcast industry. There will be no exercise or drill accompanying the test.

    The all-hazard Outdoor Siren Warning System for Public Safety is one part of the Hawai‘i Statewide Alert and Warning System used to notify the public during emergencies. If you hear this siren tone in circumstances other than a test, follow emergency information and instructions provided by official government channels. These may be in the form of a local radio or television station broadcast and/or a cellular Wireless Emergency Alert.

    Wireless Emergency Alerts deliver sound-and-text warnings to compatible mobile cellular phones. The Emergency Alert System and Wireless Emergency Alert notifications are sent via the Integrated Public Alert and Warning System, the nation’s alert and warning infrastructure, managed by the Federal Emergency Management Agency.

    Emergency management and disaster preparedness information may be found in the “Get Ready” section of ready.hawaii.gov, as well as in the front section of telephone directories in most counties. For the latest information from the Hawai‘i Emergency Management Agency (HI-EMA), or to sign up for county alerts, visit ready.hawaii.gov.

    The public may contact emergency management and county civil defense agencies to report siren operation issues through the following numbers.

     

    City and County of Honolulu: 808-723-8960
    Maui County: 808-270-7285
    Kauaʻi County: 808-241-1800
    Hawaiʻi County: 808-935-0031

    # # #

     

    Contact:

    1. Kīelekū Amundson

    Communications Director

    808-733-4300 Ext 522

    [email protected]

    MIL OSI USA News