KEYNOTE SPEECH BY MR ONG YE KUNG, MINISTER FOR HEALTH, AT THE 2ND ASEAN DIGITAL PUBLIC HEALTH CONFERENCE ON 22 NOVEMBER 2022, 2.40PM

Dato Seri Setia Dr Awang Haji Mohd Amin Liew Abdullah

Dato Seri Setia Dr Haji Mohd Isham Bin Haji Jaafar

Ladies and gentlemen

 

Thank you for inviting me to the 2nd ASEAN Digital Public Health Conference. Unfortunately, I am unable to be with you physically in Brunei, but am glad that I can speak to you virtually, and live, alongside representatives from various regions.

 

Demographic challenges in the region

 

  1. As the dust of the COVID-19 pandemic settles, healthcare systems around the world will once again revert to the central challenge of our generation, which is rapidly ageing populations across many societies around the world.

 

  1. By 2030, for the first time in recorded human history, the old will outnumber the young. In fact, East Asia is ageing faster than any other part of the world due to declining fertility and people living longer lives.

 

  1. Within East Asia, Singapore is one of the fastest ageing countries, together with Japan and South Korea. One in four Singaporeans will be aged 65 and above by 2030, up from one in six today.

 

  1. Ageing is a key but not only factor, driving the increasing incidence of non-communicable diseases. In Singapore, we have been seeing a rising prevalence of chronic diseases such as high blood pressure and high blood cholesterol among Singapore adults, alongside other concerning trends like obesity.

 

  1. In the coming ten years, we will expect a significant rise in disease burden. The impact will be palpably felt across individual lives, families, neighbourhoods and companies. Families will find it challenging to cope with taking care of their aged loved ones. In the community vehicular traffic needs to slow down, the green phase for pedestrians need to be longer, every nook and corner needs to be curb and barrier free. Hospitals need to cope with significantly high patient load, and Governments need to ensure that it can afford its healthcare budget.

 

Singapore’s Healthier SG strategy

 

  1. We must move quickly to address this. Singapore has built a strong foundation for our healthcare sector. We expanded the capacity of our healthcare system, strengthened the capabilities of our healthcare workforce through expanding education and training opportunities, and have been promoting healthy living.

 

  1. We will build on this with Healthier SG, a major national strategy to transform our healthcare system, to shift our focus from curative care to preventive care, from hospitals to community care. This is essential to put our healthcare system on a more sustainable footing. Some commentators thought this this is the biggest healthcare reform in Singapore for the past 50 years.

 

  1. Let me briefly explain what Healthier SG entails. There are five key components:

 

  1. First, we are mobilising our family doctors from both public and private community clinics deliver preventive care to our people. In Singapore, family doctors are trusted nodes who provide accessible care in the community. Throughout the COVID-19 pandemic, many of them played a critical role in our public health response. Under Healthier SG, we want to mobilise them to build strong relationships with their patients and play a bigger role in preventive health.

 

  1. Second, health plans. Under Healthier SG, family doctors will guide their patients to develop a personal health plan. This plan will focus on the health status of the patient, health goals to achieve, and an action plan. The action plan will centre around preventive health such as completing essential health screenings and vaccinations and picking up healthy life habits such as good diet, adequate sleep and exercise.

 

  1. Third, we will work with community partners to support residents in leading healthier lifestyles. Improving health goes beyond a doctor’s visit. It is not easy to follow diet or exercise advice to improve our lifestyles by ourselves. Community partners who create a supportive environment for healthy living and organise health related groups and activities, are critical to this journey.

 

  1. Fourth, the last three components will come together as a national enrolment programme. Singapore residents will be invited to enrol with one regular family doctor and build a long-lasting relationship with them. For residents who are healthy or experiencing an early onset of chronic illness, their family doctor will support them in remaining healthy for as long as possible. As for residents who already have chronic conditions, their doctor will support them in preventing or delaying illness progression. And for those who require more medical care, their doctor would work with their specialist doctors to manage their conditions. In short, family doctors will support and work with residents to improve their health, and not only step in when there are acute symptoms.

 

  1. Fifth, we will strengthen our system enablers. We need the right financing system, such as through capitation funding, to provide the incentives for healthcare providers to focus on preventive care. Another significant enabler is the IT system. We need a robust system to collect and share patient data safely and securely, to pave the way for an integrated care models, foster team-based care, and improve the way primary care providers interact with their residents.

 

  1. This is the backdrop of the central challenge and response of the Singapore healthcare system. I took some time to explain this, because it is within this context that we are making a major push for digital health.

 

  1. There are four aspects of digital health innovation: First, powering healthcare through centralised IT system; second, leveraging individuals’ effort through digital technology; third, raising productivity through telemedicine; and fourth, harnessing the breakthroughs in medical science.

 

Powering the Healthcare System

 

  1. First, to drive integrated and seamless care, we need to power the national healthcare system with a few strategic, mission-critical, centralized IT system.

 

  1. In Singapore, one such system is the National Electronic Health Record (NEHR) system. NEHR captures the summaries of patients’ medical records in a central platform that is accessible by licensed healthcare providers. We have enhanced the system to improve the collection and sharing of summarised medical data among healthcare providers such as family doctors, hospitals and community care partners like nursing homes.

 

  1. Patients in turn has a window into the NEHR to access their own medical data through HealthHub, a web and mobile application, with expanded access to records such as their screening results and their health plan under Healthier SG.

 

  1. To facilitate the proper collection, use and sharing of health data among healthcare providers in a safe and secure manner, we will introduce a new legislation, the Health Information Bill, in 2023. The Bill will mandate licensed healthcare providers to contribute patients’ summarised medical records into the NEHR, so in turn able to patients’ health data by their care teams across different settings. The new legislation will also mandate data governance, IT and cybersecurity capabilities by healthcare providers and data intermediaries.

 

  1. The fact is, we cannot view healthcare just as a hospital-activity, because that is sick care. Healthcare happens in homes, at workplaces and in the community. For that to happen, medical records need to be accessible safely and securely across settings and healthcare providers.

 

Leveraging Individuals’ Effort

 

  1. Second, digital innovation in healthcare is to leverage individuals’ effort. Ultimately, each of us are responsible for our own health, because we are the biggest and most consequential stakeholder. Yet, most of us visit our doctors infrequently. We may abide by his advice for a few weeks and slack off after that. We lack the medical expertise and knowledge and especially the motivation, to stay healthy.

 

  1. Digital technology can now be used to empower and motivate individuals to take greater ownership of our health. Wearables come in many forms now – watches, rings, even shirts – and paired with a mobile app, they encourage us to adopt healthy lifestyles, eat better, exercise more, sleep more soundly.

 

  1. After the COVID-19 pandemic, we have a great opportunity to promote the use of digital health apps. All over the world, people are used to checking COVID-19 test results or vaccination status using a health app, which has become a must-have in our smart phones. Now, we can use these digital companions to help individuals take steps toward better health. It will be a powerful multiplier for our Healthier SG strategy.

 

  1. Singapore has a head start in this. Years ago, we developed an application called Healthy 365, which allows sign-ups for healthy lifestyle programmes, as well as easy tracking of lifestyle data such as physical activity and healthier food purchases.

 

  1. With the Healthy 365 app, residents can also participate in the National Steps Challenge, the world’s first population-level fitness tracker-based activity to gamify physical activity and reduce sedentary behaviour. Today, one fifth of our adult population participates in the National Steps Challenge. By clocking steps and engaging in moderate or vigorous physical activity, they can earn them “Health Points”, which can be used at various participating merchants.

 

  1. Additionally, we need an open architecture which promotes system interoperability and compatibility between wearables and digital health apps like Fitbit, Apple, Garmin and Samsung to allow consumers and patients to adopt and use these devices as part of their daily lives.

 

Raising Productivity

 

  1. Third, we can achieve a significant leap in productivity in healthcare delivery, through telemedicine. Telemedicine and teleconsultation had not been well-accepted in Singapore. However, during the pandemic, we established telemedicine systems and processes for those recovering from COVID-19 at home. Today, it is well-accepted, and patients begin to see the benefit of telehealth – that it is convenient, accessible and the doctor can be equally personal and attentive to the patient.

 

  1. We should make telehealth the norm in our healthcare delivery system. This is especially important for an ageing society, where mobility of patients can be a challenge. Telehealth will expand the capacity of primary care to manage patients with chronic conditions and improve their outcomes in a cost-effective manner.

 

  1. At the same time, home delivery for medicine and contactless transactions can become part and parcel of the new normal. During the pandemic, we deliver medication and oxy-meters to COVID-19 patients. We are in the process of developing the centralised pharmaceutical distribution system, which can make telemedicine even more attractive and convenient.

 

Harnessing Breakthroughs

 

  1. Finally, and possibly the most significant of all, is to harness the breakthroughs in medical science. The possibilities are many, but let me cite two examples over the horizon.

 

  1. One is the increasing use of Artificial Intelligence (AI). AI can enable our healthcare workers to better care patients. For example, in the area of early diagnosis, the Singapore National Eye Centre, Singapore Eye Research Institute and National University of Singapore School of Computing jointly developed an AI system called SELENA+ (stands for Singapore Eye LEsioN Analyser Plus). It uses deep learning models on retina images to detect Diabetic Retinopathy and has been deployed to 23 polyclinics and reading centres. The system helps us overcome our shortage of trained healthcare professionals and detect high-risk patients early to prevent future blindness.

 

  1. Two, is the powerful convergence of digital technology and bioscience. In 1990, the Human Genome Project was started to generate the first sequence of the human genome. It is literally a human blueprint, which is in turn made up of billions of DNA, each of which in turn comprises four chemical bases – A, G, C, T – as building blocks.

 

  1. In other words, humans are not very different from an extremely complex set of computer source codes. In the years and decades to come, we will bound to see a convergence of digital and bioscience technology.

 

  1. We have already witnessed the record-breaking speed in COVID-19 vaccine development. Scientists are now working on a 100-day project, which is the targeted time taken to develop a vaccine for the next pandemic. This is possible because of the mRNA technology platform, where vaccines are literally programmed – like a software – to fight new pathogens.

 

  1. Hence, Singapore has started administering Moderna bivalent vaccines, which also protects against the BA.1 variant – an improvement from the original vaccine. Soon, we will have the Pfizer bivalent vaccine, which protects against BA.5. I commented to a colleague that vaccines development now is almost like upgrading of our smart phone operating system – version 15, to 16, to 16.1, 16.2 etc.

 

  1. I think this is just the start of the revolution. In time, there will be treatment and therapies, intervening at the cellular or genetic level, for various diseases. It will also be possible to sequence the genomes of individuals, to find out their health risks. The possibilities are exciting, but also poses many difficult legal, moral, social and financial challenges and dilemmas.

 

Closing

 

  1. Thank you for giving me this opportunity to share my thoughts. I thank the Ministry of Finance and Economy and the Ministry of Health in Brunei Darussalam for hosting this Conference and wish all of you an enriching and thought-provoking day ahead. Thank you.

 

 

Source: Ministry of Health, Singapore

TCCT co-hosts an international workshop under the topic of “Workshop on Advocacy Strategies for Competition Authorities in Asia-Pacific” in collaboration with the OECD and OECD/Korea Policy Center

Bangkok 25-27 Oct, the Workshop provided an experience and best practices sharing platform among competition authorities across the Asia-Pacific region about effective advocacy tools and strategies. It also aimed to facilitate the adjustment of strategies in competition law enforcement to promote free trade in a fair and suitable manner for the post Covid-19 era.

Participants were welcomed by Prof. Sakon Varanyuwatana, the Chairperson of TCCT, Mr. Jungwon Song, the Director General of OECD/KPC Competition Programme, and Mr. Ruben Maximiano, OECD’s Senior Competition Expert and Regional Manager for Asia-Pacific.

The event kicked off with former Prime Minister H.E. Mr. Abhisit Vejjajiva delivering a special keynote on the topic of “Making Competition Policy a Policy Mainstay”. He highlighted the importance of competition policy on Thailand’s economic system amid the changing situations in the Asia-Pacific region fueled by the Covid-19 pandemic and digital transformation.

Sessions comprised lectures, case study discussions, and exchange of experiences among participants. The three-day event was honoured by experts from international trade competition authorities, who provided knowledge and exchanged experiences with Thai representatives and officials of the TCCT.

During the event, attendants participated in workshop sessions that feature hypothetical exercises and case study analyses on unfair trade competition of products and services under different roles. Participants exercised their skills in detecting unfair trade practices in different hypothetical markets and together designed an advocacy programme to promote a fair-trade competition culture, before presenting the strategic plan for the said programme to the meeting.

The TCCT hoped that this international meeting would help Thai authorities build a knowledge base in the promotion and advocacy of trade competition, as well as promote cooperation with international competition authorities who have strong experience in their respective field, which could help raise Thailand’s efficiency in trade competition promotion and law enforcement to an international standard.

 

 

Source: ASEAN Competition Policy and Law

TCCT holds APEC Seminar on Competition Policy and Sustainable Development

Bangkok, 9 Nov—The Trade Competition Commission of Thailand hosted a hybrid Workshop titled Competition Policy and Sustainable Development under the APEC Competition Policy and Law Group (CPLG) in Bangkok.

 

As host of CPLG 2022 annual meeting, the TCCT opened door to 21 competition authorities across the Asia-Pacific region and gathered experts from around the word to discuss and share best practices on aligning competition policy implementation and call for more active role of competition authorities in the wider mission of achieving the green transition and climate mitigation goals.

 

Following the welcoming remarks from Prof. Sakon Varanyuwatana, the Chairperson of TCCT and Mr. Krisda Piampongsant, the CPLG Convenor, the discussion is inaugurated by a keynote address from H.E. Mr. Sontirat Sontijirawong, Former Minister of Energy and Former Minister

 

of Commerce of Thailand titled “Bangkok Goals on Bio-Circular-Green Economy (BCG): The Interlink between Sustainable Investment and Competition Policy,” who emphasized the centrality of competition policy in guiding the swift, effective, and just climate action and green transition.

 

The following panel of experts from APEC members, the OECD, European Union, the United States, the United Kingdom, and the Netherlands weighed in on issues of the nexus between sustainable development and various areas of competition policy anti-cartel, abuse of dominance enforcement, merger reviews, to advocacy.

 

The post-workshop report will capture the points and recommendations raised during the event and will be issued as an APEC publication and publicly available on the APEC website.

 

 

Source: ASEAN Competition Policy and Law

Azerion acquires Radionomy and enters audio advertising market

Amsterdam, 22 November 2022 – Today, Azerion has announced the acquisition of Radionomy Group, a global pioneer in digital audio advertising and marketing solutions. With this acquisition, Azerion launches a new product in the realm of audio advertising, enabling clients and partners to expand their engagement with users. This acquisition will enhance Azerion’s ability to support advertisers and publishers with a complete suite of advertising products and further solidifies our entry into the US market.

Radionomy has a unique and proprietary adtech solution covering all aspects of digital audio ⎼ including radio, podcasts, audiobooks and games ⎼ and supporting in excess of 3 billion monthly impressions in over 30 markets worldwide. It is connected to a wide range of publishers with more than 15,000 audio channels in aggregate, providing meaningful scale to drive targeted and efficient advertising for advertisers.

Atilla Aytekin, co-CEO of Azerion, comments: I am excited to add a new suite of audio advertising solutions to our product portfolio and offer more innovative ad formats, from digital radio to in-game audio, helping our advertisers and publishers achieve optimal advertising and monetisation results. As a company that strives to offer a complete set of products to our customers, it is important for us to stay at the forefront of the latest market trends. We are proud to be at the centre of this nascent innovative digital technology that we expect to develop further over the next few years across the United States, Europe, and beyond.”

Azerion has signed a binding transaction documentation relating to the sale of 100% of the issued and outstanding shares in the share capital of Radionomy Group B.V. from Targetspot SA, a company listed on Euronext Growth Paris and Brussels. The transaction perimeter includes Radionomy Group B.V. and all its subsidiaries and, as such, does not include Targetspot’s Winamp operations. Closing of the transaction is subject to certain conditions, including approval by Targetspot’s extraordinary general meeting (EGM), which will be held on 9 December 2022. Closing is expected before 31 December 2022.

The total consideration will be predominantly settled through Azerion shares, with the balance settled in cash. In total, 2,782,644 Azerion shares will be transferred to the selling shareholders at closing of the transaction and such Azerion shares equivalent to up to €3 million are to be granted in future, subject to certain earn-out conditions. Azerion’s shares currently held in treasury are sufficient to satisfy the share consideration. The balance that is payable in cash contains a payment at closing as well as deferred payments. Radionomy is expected to generate approximately €29 million to €30 million gross revenue in 2022.

Radionomy brings together the entire activity of Targetspot with its subsidiaries. The transaction thus involves the indirect disposal of all the subsidiaries of Radionomy Group B.V., the Targetspot and Shoutcast brands and all staff attached to the business.

About Azerion

Azerion is a high-growth digital entertainment and media platform. We entertain people through highly engaging content and we help advertisers reach any audience, at any scale, anywhere in the world in an easy way at a competitive price and in a highquality, curated content environment. Azerion’s integrated platform provides technology solutions to automate the purchase and sale of digital advertising for media buyers and sellers, supported by in-market sales and campaign management teams. Through our technology, content creators, digital publishers and advertisers work with Azerion to reach the hundreds of millions of people across the globe that play Azerion’s games and view its distributed entertainment content to increase engagement, loyalty, and drive e-commerce.

Founded in 2014 by two Dutch entrepreneurs, Azerion has experienced rapid expansion driven by organic growth and strategic acquisitions. Azerion is headquartered in Amsterdam, the Netherlands and is a publicly traded company listed on Euronext Amsterdam. For more information visit: www.azerion.com.

About Targetspot

Targetspot has been a leader and pioneer in digital audio since 2007. Targetspot connects brands to their target audiences via an inventory of leading publishers across all areas of digital audio. Through its proprietary technologies, Targetspot provides end-to-end integration between advertisers and publishers, for contextually targeted, cookie-free campaigns involving both direct and programmatic buying.  Targetspot is also a leader in audio streaming, its Shoutcast brand enabling over 85,000 radio stations to be streamed online. Targetspot is operational in 9 countries and employs around 100 people worldwide.

Contact
Investor Relations
ir@azerion.com

Media
press@azerion.com

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Junshi Biosciences Announces Approval of Supplemental Application for Additional Indications of Adalimumab Injection

SHANGHAI, China, Nov. 22, 2022 (GLOBE NEWSWIRE) — Shanghai Junshi Biosciences Co., Ltd (“Junshi Biosciences”, HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced today that the supplemental application for additional indications of adalimumab injection (project code: UBP1211, trade name: 君邁康®) for the treatment of Crohn’s disease, uveitis, polyarticular juvenile idiopathic arthritis, plaque psoriasis in children and Crohn’s disease in children has been approved by the National Medical Products Administration (“NMPA”).

Tumor necrosis factor-α (TNF-α) is secreted by macrophages, mast cells and activated Th cells. It is a potent inducer of inflammatory response and a key regulator of innate immunity, playing a key role in the occurrence and development of various inflammatory conditions. The binding of TNF-α to TNF-α receptors can induce inflammatory responses, and it has been proven that rheumatoid arthritis, psoriasis, Crohn’s disease, ankylosing spondylitis and many other autoimmune diseases are closely related to TNF-α. Anti-TNF-α monoclonal antibodies can bind to TNF-α receptors and reduce the immune response activated by TNF-α, thereby preventing the occurrence of inflammation.

君迈康 is jointly developed by Junshi Biosciences and Mabwell (Shanghai) Bioscience Co., Ltd. In March 2022, its indications including rheumatoid arthritis, ankylosing spondylitis and psoriasis were approved by the NMPA.

“We are very pleased with the rapid commercialization of 君迈康—since its clinical use less than a year ago, it has already been approved for 8 indications and become one of the domestic adalimumab with the most indications approved in the nation,” said Dr. Ning Li, CEO of Junshi Biosciences. “We will continue collaborating with Mabwell Biosciences to provide more treatment options for a wider range of patients with autoimmune diseases, including children and adults with specific diseases, and further the Healthy China Innitiative with our dedicated efforts.”

“It was wonderful to see 君迈康 achieve 5 indication approvals all at once within a relatively short amount of time,” said Dr. Datao Liu, co-founder and CEO of Mabwell Bioscience. “To this day, many patients in China are still suffering from autoimmune diseases, which severely affect their physical functions and quality of life. The extension of 君迈康’s indications will further benefit patients in China as well as the rest of the world, providing them with treatment options that are both more effective and accessible.”

About Uveitis
Non-infectious intermediate, posterior or panuveitis (NIIPPU) is a group of immune-mediated intraocular inflammatory diseases that may cause complications such as synechia, glaucoma, cataracts, macular edema and retinopathy in patients, causing impaired vision or even blindness, and usually co-occurs with immune-mediated systemic diseases such as psoriasis and ankylosing spondylitis. According to the epidemiological research data in mainland China, its incidence rate is 152/100,000, and the incidence peaks at 24 to 44 years old.

About Crohn’s Disease
It is a chronic and relapsing inflammatory gastrointestinal disease, which is categorized as inflammatory bowel disease (IBD) together with ulcerative colitis (UC). In China, the prevalence rate of Crohn’s disease is 2.29/100,000, the average incidence rate is 1.21/100,000, and it is showing a rapid upward trend. There is currently no complete cure for Crohn’s disease. The goal of treatment is to induce and sustain remission, prevent complications, and improve quality of life.

About Crohn’s Disease in Children
According to statistics, 25% to 30% of all IBD patients in the world are children, of which Crohn’s disease accounts for the vast majority, and its incidence rate has been increasing year by year.

About Polyarticular Juvenile Idiopathic Arthritis
Juvenile idiopathic arthritis is a common rheumatic disease in childhood, with chronic joint synovitis as its main symptom. Accompanied by systemic multiple organ dysfunction, it is also an important cause of childhood disability and blindness. Polyarticular juvenile idiopathic arthritis is the most common subtype of juvenile idiopathic arthritis, accounting for about 18% to 30%.

About Plaque Psoriasis in Children
Pediatric psoriasis is an immune-mediated chronic, recurrent, inflammatory, systemic disease that occurs in children. Different populations, races, and genders are equally susceptible, and about 1/3 of patients have onset of psoriasis in childhood. The common type of psoriasis in older children is plaque psoriasis (75%), followed by guttate psoriasis (15% to 30%) and generalized pustular psoriasis (1% to 5.4%).

About Junshi Biosciences
Founded in December 2012, Junshi Biosciences (HKEX: 1877; SSE: 688180) is an innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative therapeutics. The company has established a diversified R&D pipeline comprising over 50 drug candidates, with five therapeutic focus areas covering cancer, autoimmune, metabolic, neurological, and infectious diseases. Junshi Biosciences was the first Chinese pharmaceutical company that obtained marketing approval for anti-PD-1 monoclonal antibody in China. Its first-in-human anti-BTLA monoclonal antibody for the treatment of various cancers was the first in the world to be approved for clinical trials by the FDA and NMPA and has since entered Phase Ib/II trials in both China and the US. Its anti-PCSK9 monoclonal antibody was the first in China to be approved for clinical trials by the NMPA.

In the face of the pandemic, Junshi Biosciences’ response was strong and immediate, joining forces with Chinese and international scientific research institutions and enterprises to develop an arsenal of drug candidates to combat COVID-19, taking the initiative to shoulder the social responsibility of Chinese pharmaceutical companies by prioritizing and accelerating COVID-19 R&D. Among the many drug candidates is JS016 (etesevimab), China’s first neutralizing fully human monoclonal antibody against SARS-CoV-2 and the result of the combined efforts of Junshi Biosciences, the Institute of Microbiology of the Chinese Academy of Science and Lilly. JS016 administered with bamlanivimab has been granted Emergency Use Authorizations (EUA) in over 15 countries and regions worldwide. Meanwhile, VV116, a new oral nucleoside analog anti-SARS-CoV-2 drug designed to hinder virus replication, is in global Phase III clinical trials. The JS016 and VV116 programs are a part of the company’s continuous innovation for disease control and prevention of the global pandemic.

Junshi Biosciences has more than 3,100 employees in the United States (San Francisco and Maryland) and China (Shanghai, Suzhou, Beijing and Guangzhou). For more information, please visit: http://junshipharma.com.

Junshi Biosciences Contact Information
IR Team:
Junshi Biosciences
info@junshipharma.com
+ 86 021-6105 8800

PR Team:
Junshi Biosciences
Zhi Li
zhi_li@junshipharma.com
+ 86 021-6105 8800

GlobeNewswire Distribution ID 8701606

Simplifying aircraft parts’ procurement – how Locatory.com runs a well-oiled online marketplace

VILNIUS, Lithuania, Nov. 21, 2022 (GLOBE NEWSWIRE) — With 12 years of market experience under its belt already, Locatory.com is not slowing down. The aviation marketplace for aircraft spare parts and repair capabilities and a family member of Avia Solutions Group, leaders in end-to-end capacity solutions for passenger and cargo airlines worldwide, is talking about its place in the aviation industry and growth plans.

Since its development in 2010, Locatory.com has become one of the leading premium aircraft parts marketplaces in the world, with the userbase growing 20% each month. “We have been seeing steady growth for a few years now,” shared Toma Matutyte, CEO of Locatory.com. “This increase in clientele interest has been driven by the continuous expansion of our spare parts database. Each month it grows by 15% allowing for a wider variety of parts available. And with cost optimization and sustainability on everyone’s mind, the secondary aviation parts market is becoming an increasingly attractive opportunity. In 2022, we have received 5 times more RFQs (Request for Quotes) when compared to last year and are expecting this trend to continue into the next year.”

As a tool for simplified procurement of spare parts, Locatory.com is deeply invested in the digitalisation of the process. “Our mission is to connect aircraft parts’ buyers and sellers, through seamless transactions via an innovative platform that enables our customers to find, buy, and sell aircraft parts or repair services in commercial, OEM, MRO, military, and general aviation segments across the globe,” she explained. “We are focusing on innovation and efficiency therefore we have already successfully introduced a range of innovative features to our marketplace. Amber, the A.I.-based assistant, being one of them.”

Running a well-oiled online marketplace is not an easy task, thus having a strong team behind you is a must. “We have a truly global team, with people from over 10 countries sharing ideas and expertise in improving the company. We have been steadily expanding by around 15 % each month and there are no plans of slowing down,” she said.

By keeping innovation and optimisation as the main driving factors, Locatory.com is constantly working on keeping up and surpassing the ever-changing aviation industry needs. “Improving spare aircraft parts procurement processes can positively impact the whole aviation industry thus we will continue creating tools to do so,” said Toma Matutyte.

Vilma Vaitiekunaite
Chief Communications Officer
Cell: +37061112789
E-mail: Vilma.Vaitiekunaite@aviasg.com


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