Day: February 8, 2022

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Virtusa Corporation Earns New Pega Partners Global Elite Distinction

Elite Status Means Clients Receive Superior Capabilities in Pega Technologies, Engagement Strategies and Vertical Markets

SOUTHBOROUGH, Mass., Feb. 08, 2022 (GLOBE NEWSWIRE) — Virtusa Corporation today announced that it is among the first group of partners to earn the Global Elite distinction in the new Pega Partners program. Specialized partners are thoroughly vetted by Pega to bring deep vertical knowledge or specialized expertise to clients. Specializations make it easier for clients to connect with the partner who best fits their specific needs by industry, technology, and territory.

Global Elite distinction is reserved for Pega’s top performing partners with demonstrated capabilities in Pega technologies, engagement strategies or vertical markets. Global Elite partners meet or exceed their annual growth plan based on their engagement strategy benchmarks. In addition to Global Elite status, Virtusa also earned Specialized and Authorized distinctions.

As Pega’s most tenured partner, since 2002, Virtusa is the only one to collaborate with Pega in developing products for the financial services, insurance, healthcare, telecom, media, and manufacturing industries. Overall, Virtusa has executed an incredibly high number of digital process automation programs that include several of the largest Pega implementations in the world. For the second consecutive year, Virtusa also received the Pega 2021 Partner Sales Excellence Award for top Partner Sourced Revenue in the Americas. This achievement is another indication of the successful partnership between Virtusa and Pega.

“Earning these three distinctions, particularly Global Elite, further demonstrates the extremely valued partnership between Virtusa and Pega, as well as Virtusa’s commitment to providing superior service and solutions to help clients accelerate their digital transformation initiatives,” said John Gillis, Executive Vice President, Business Operations, Virtusa. “The Pega Partners program and our Global Elite status will now make choosing even easier for worldwide clients seeking to benefit from our long-standing partnership.”

Carola Cazenave, vice president, global partner ecosystems, Pegasystems, added, “We’re proud of partners like Virtusa that worked diligently to meet the stringent criteria for our new Pega Partners program. The Elite distinction lets Pega clients know that Virtusa has earned our trust to deliver high-quality Pega solutions with proven superior client outcomes.”

To learn more about the Virtusa and Pega partnership, visit: virtusa.com/partner/pega.

About Virtusa
Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in the Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.

Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact:

Matt Berry
Conversion Marketing
matt@conversionam.com
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Iveco Group 2021 Full Year Combined Results

The following is an extract from the “Iveco Group 2021 Full Year Combined Results” press release. The complete press release can be accessed by visiting the media section of the Iveco Group corporate website: https://www.ivecogroup.com/media/corporate_press_releases or consulting the accompanying PDF:

Iveco Group consolidated revenues of €12.6 billion (up 22% year on year).
Net income of €76 million and adjusted EBIT of Industrial Activities of €302 million.
Industrial Activities net cash at €1.1 billion.

Unaudited combined financial results presented under EU-IFRS

Net revenues of Industrial Activities of €12,520 million, up 21%, mainly due to higher volumes and positive price realization.

Adjusted EBIT of Industrial Activities of €302 million (€89 million loss in 2020), with €403 million increase in Commercial and Specialty Vehicles. Powertrain adjusted EBIT of €208 million (€195 million in 2020).

Adjusted net income of €140 million, with adjusted diluted earnings per share of €0.43 (adjusted net loss of €167 million in 2020, with adjusted diluted loss per share of €0.76).

Reported income tax expense of €104 million, with adjusted effective tax rate (adjusted ETR) of 47% for the year ended 31st December 2021. The ETR reflects the impact of unbenefited losses in certain jurisdictions and certain other discrete items.

Free cash flow of Industrial Activities was negative €125 million due to working capital affected by higher inventory driven by supply chain disruptions. Total third-party Debt of €2.7 billion at 31st December 2021 (€2.8 billion at 31st December 2020). Industrial Activities net cash position at €1.1 billion, a decrease of €0.1 billion from 31st December 2020.

Available liquidity at €1.4 billion as of 31st December 2021, including net financial receivables from CNH Industrial Post-Demerger.

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CNH Industrial 2021 Fourth Quarter and Full Year Results

The following is an extract from the “CNH Industrial 2021 Fourth Quarter and Full Year Results” press release. The complete press release can be accessed by visiting the media section of the CNH Industrial corporate website: www.cnhindustrial.com/en-us/media/press_releases or consulting the accompanying PDF:

CNH Industrial reports strong full year performance in 2021, the last year of operations prior to the demerger of Iveco Group effective January 1, 2022. Consolidated revenues of $33.4 billion (up 28% year on year), net income of $1,760 million, with adjusted diluted EPS of $1.35, and adjusted EBIT of Industrial Activities of $2,114 million the highest in Company history. Free cash flow of Industrial Activities positive $1,751 million.

Financial results presented under U.S. GAAP

Net sales of Industrial Activities of $31,622 million, up 30% with increases in all segments due to continued strong industry demand and price realization.

Adjusted EBIT of Industrial Activities of $2,114 million ($552 million in 2020), with Agriculture adjusted EBIT of $1,810 million and adjusted EBIT margin of 12.3% in the year. Adjusted EBIT increased by $391 million for Commercial and Specialty Vehicles and $274 million for Construction. Powertrain adjusted EBIT of $256 million ($233 million in 2020).

Adjusted net income of $1,880 million, with adjusted diluted earnings per share of $1.35 (adjusted net income of $437 million and adjusted diluted earnings per share of $0.28 in 2020).

Reported income tax expense of $342 million, which includes a $161 million tax benefit related to recognizing certain deferred tax assets. Adjusted effective tax rate (adjusted ETR) of 23%, which reflects a favorable geographic mix of pre-tax earnings.

Free cash flow of Industrial Activities was positive $1.8 billion due to the strong operating performance. Total Debt of $23.7 billion at December 31, 2021 ($26.1 billion at December 31, 2020). Industrial Activities net cash position at $0.3 billion, a decrease of $0.5 billion from December 31, 2020, primarily due to the cash-out for the acquisition of 100% interest in Raven ($2,246 million) and 90% interest in Sampierana ($86 million).

Available liquidity at $12.1 billion as of December 31, 2021.

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Indonesia – Floods (BMKG, ADINet) (ECHO Daily Flash of 08 February 2022)

  • Heavy rain has been affecting Java and Kalimantan (central-western Indonesia) over the past few days, causing floods and resulting in damage.
  • According to the ASEAN Disaster Information Network (ADINet), more than 3,700 people have been affected as well as at least 700 houses in East and Central Java. In South Kalimantan, 940 people have been affected and 265 houses flooded.
  • For the next 24 hours, moderate to heavy rain with thunderstorms is forecast over the affected Provinces.

 

 

Source: European Commission’s Directorate-General for European Civil Protection and Humanitarian Aid Operations

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APPEAL FOR INFORMATION – MS NUR SYAKILA BINTE RASHIDEE

The Police are appealing for information on the whereabouts of a 15-year-old Ms Nur Syakila Binte Rashidee, who was last seen at Block 510A Yishun Street 51, at about 3 pm on 29 January 2022.

 

Anyone with information is requested to call the Police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/iwitness. All information will be kept strictly confidential.

 

 

Source: Singapore Police Force

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34 INVESTIGATED IN MULTI-AGENCY ENFORCEMENT OPERATION

A total of 19 men and 15 women, aged between 25 and 79, are being investigated for various offences, following a week-long multi-agency enforcement operation conducted from 17 to 21 January 2022.

 

The operation was led by Bedok Police Division and supported by officers from the Criminal Investigation Department, Central Narcotics Bureau, Health Sciences Authority, Immigration & Checkpoints Authority, Singapore Customs, Land Transport Authority and Singapore Food Agency. During the operation targeting illegal activities and social disamenities at the Geylang Lorongs, three men, aged between 27 and 34, were arrested under suspicion of being members of unlawful societies.

 

In an operation conducted along the Geylang Lorongs, two men aged 29 and 43, were found to be in possession of substances believed to be unregistered health products consisting of an assortment of cough syrup and sexual enhancement products. E-vaporisers and their accessories were also allegedly recovered from the men. They will be investigated for various offences under the Health Products Act 2007 and Tobacco (Control of Advertisements and Sale) Act 1993. Substances with a street value of close to $9,000 were also seized. Those found guilty of importing, manufacturing and/or supplying of unregistered health products, may be liable to an imprisonment term for up to two years and/or fined up to $50,000. Those found guilty of selling, offering for sale, possessing for sale, importing or distributing e-vaporisers and its accessories, are liable to a fine not exceeding $10,000, imprisonment for up to six months, or both for the first offence; and to a fine not exceeding $20,000, imprisonment for up to 12 months, or both, for the second or subsequent offence.  In addition, for possessing, using and purchasing such items, offenders are liable to a fine not exceeding $2,000.

 

In enforcement efforts against illegal gambling, the Police conducted enforcement operations at a commercial unit located along Ubi Avenue 3 and found a total of five men and a woman, aged between 42 and 62, purportedly engaging in gambling-related activities. They were subsequently arrested for their suspected involvement in offences under the Remote Gambling Act 2014. Cash amounting to $950, computer terminals used in the commission of the offence, and various gambling-related paraphernalia were seized. Under Section 8(1)(b) of the Remote Gambling Act 2014, an individual who, in Singapore, gambles using remote communication and using a remote gambling service that is not provided by a person otherwise exempt, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000, imprisonment for a term not exceeding six months, or both. Under Sec 9(1)(e) of the same Act, any person who assists in providing unlawful remote gambling service for another shall be guilty of an offence and shall be liable on conviction to a fine of not less than $20,000 and not more than $200,000, imprisonment for a term not exceeding five years, or both.

 

The Police also conducted enforcement operations targeted at vice-related activities at a hotel located along Lorong 22 Geylang and a massage establishment outlet located along Geylang Road. A total of 10 women, aged between 32 and 48, were arrested for offences under the Women’s Charter 1961.

 

During the operation, a purported unlicensed ‘KTV-concept’ outlet was detected at a commercial unit located along Geylang Road. A total of five men and four women, aged between 25 and 47, were allegedly found singing karaoke and consuming liquor within the unit. Within the persons found in the unit, a 65-year-old man, who was believed to be the operator of the outlet, will be investigated for offences under the Public Entertainments Act 1958 and Liquor Control (Supply and Consumption) Act 2015. The operator and five patrons are being investigated for offences under the COVID-19 (Temporary Measures) (Control Order) Regulations 2020. For non-compliance with safe distancing measures under the COVID-19 (Temporary Measures) (Control Order) Regulations 2020, individuals found guilty may be jailed for up to six months, fined up to S$10,000, or both.

 

Officers from the Singapore Customs conducted enforcement against duty-unpaid cigarettes as well. A 78-year-old man is assisting with investigations for purportedly dealing with duty-unpaid cigarettes while two other men, aged 33 and 54, were issued with composition sums of up to $2,500 for possessing duty-unpaid cigarettes. A total of 30 packets and 15 sticks of duty-unpaid cigarettes were seized as part of the operation. Buying, selling, conveying, delivering, storing, keeping, possessing or dealing with duty-unpaid goods are serious offences under the Customs Act 1960 and the Goods and Services Tax (GST) Act 1993. Offenders can be fined up to 40 times the amount of duty and GST evaded and/or jailed for up to six years.

 

Investigations against all the 34 individuals are ongoing.

 

Commanding Officer of Geylang Neighbourhood Police Centre, Deputy Superintendent of Police Lee Ting Wei said: “Persistent and strong enforcement are key to keeping the Geylang Lorongs safe and secure, and will require the continued effort of the various law enforcement agencies. The Police will continue to work closely with our community partners to prevent, deter and detect illegal activities in the Geylang Lorongs.”

 

The Police have zero tolerance towards illicit activities that threaten the public safety, peace, and good order of their communities, and will continue to work closely with relevant stakeholders to conduct regular enforcement operations to clamp down on illegal gambling, suppress secret society activities and illicit activities at the various nightlife establishments and popular congregation hotspots. Firm action will also be taken against those who blatantly disregard the law. Members of the public are also advised to steer clear of secret society activities and to report those engaging in such unlawful activities to the Police immediately.

 

 

Source: Singapore Police Force