Daily Archives: August 3, 2017

IIBA Launches Global Thought Leadership Program

Program includes strategic partnerships with Forrester among others to produce thought leadership on timely topics for Business Analysis professionals worldwide

Bangalore, India, Aug. 03, 2017 (GLOBE NEWSWIRE) —

The International Institute of Business Analysis™ (IIBA®) today announced the launch of its Global Thought Leadership Program. To kick-off the program, IIBA celebrated official signing of a joint Memorandum of Understanding (MOU) with Forrester live from BA Convention in Bangalore, India. The new MOU highlights a commitment to share market perspectives, information and collaborate on content to advance the critical role of business analysis in supporting enterprises to add business value.

IIBA has developed thought leadership content for Business Analysis professionals in collaboration with global market experts and practitioners to release the first discussion paper on Business Analysis and Digital Transformation, available through the IIBA website.

IIBA’s Ashish Mehta, Managing Director, India and Asia Pacific and Global Thought Leadership explained, “The Global Thought Leadership Program’s intention is to help Business Analysis (BA) professionals continue to expand their knowledge and skills by keeping up with the latest thinking and processes within the industry. The leading-edge insights that the program offers provides BAs the opportunity to evolve professionally and advance their careers.”

Forrester’s Ashutosh Sharma, Vice President and Research Director in India said, “Business Analysts play an important role in aligning the technology outcomes with the business goals by bringing technology function closer to business. IIBA’s program and our collaboration with them intends to keep business and technology leaders informed of how this role can evolve to serve their organization better in the age of the customer”.

The program works with thought leaders across different channels to curate content and share the latest thinking in business analysis practices. Based on market research, the program focuses on, but is not limited to, five topic areas including Design Thinking, Agile, Digital Business Analysis, Customer Experience, Analytics and Enterprise Strategic Analysis, to contribute to better business outcomes.

“The Global Thought Leadership program allows our Business Analysis professionals to take research data and the latest industry thinking and transform it into tangible information to help improve and streamline processes and achieve more impactful business results,” said Sharma.

“This agreement is a natural fit for both organizations. Collaborating with Forrester will support future focused thinking through sharing of ideas. We look forward to working together to meet the needs of the business analysis community both today and in the future,” said Ken Fulmer, President and CEO, IIBA.

The program is designed to deliver content involving best practices, benchmarks and trends, and points of view. Content will be shared through diverse formats including webinars, white papers, videos, infographics, presentations and more.

By capitalizing on forward-thinking and innovative thought leader processes, Business Analysis professionals are able to leverage thought leadership reports and produce better and more effective business results. The Global Thought Leadership Program will also help shape the careers of Business Analysis professionals as the industry evolves and continuously enable development and growth beyond the traditional scope of business analysis.

About International Institute of Business Analysis™ (IIBA®)

International Institute of Business Analysis (IIBA®) is a professional association dedicated to helping the business analysis community create better business outcomes. Through a global network, IIBA connects more than 29,000 Members and more than 300 Corporate Members and 120 Chapters. As the voice of the business analysis community, IIBA supports the recognition of the profession and discipline and works to maintain the global standard for the practices and certification.

About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We work with business and technology leaders to develop customer-obsessed strategies that drive growth. Forrester’s unique insights are grounded in annual surveys of more than 675,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of our most innovative clients. Through proprietary research, data, custom consulting, exclusive executive peer groups, and events, the Forrester experience is about a singular and powerful purpose: to challenge the thinking of our clients to help them lead change in their organizations.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2866aa00-f51b-44ac-8b47-647c47e7d27e

Ann Cain
International Institute of Business Analysis 
+1 866-789-4422 ext. 146
ann.cain@iiba.org

Forrester
Forrester
+ 65 6426 7016
Press@Forrester.com

TGS Quarterly Dividend

ASKER, Norway, Aug. 03, 2017 (GLOBE NEWSWIRE) — Following the authorization from the Annual General Meeting on 9 May 2017, the Board of TGS NOPEC Geophysical Company ASA has resolved to distribute a quarterly dividend of the NOK equivalent of USD 0.15 per share (NOK 1.19 per share).

Key information relating to the cash dividend:

Dividend amount and declared currency: USD 0.15 per share (equivalent to NOK 1.19 per share)

Last trading day including right: 9 August 2017

Ex-date: 10 August 2017

Record date: 11 August 2017

Payment date: 24 August 2017

Date of approval: 2 August 2017

Company summary     
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide.  In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.

For more information visit TGS online at www.tgs.com.

Forward-looking statements and contact information
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS’ reliance on a cyclical industry and principle customers, TGS’ ability to continue to expand markets for licensing of data, and TGS’ ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol “TGSGY”.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For additional information about this press release please contact:

Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen@tgs.com

Will Ashby
VP HR & Communication
Tel: +1 713 860 2184 
Email: will.ashby@tgs.com

TGS announces Q2 2017 Results

ASKER, Norway, Aug. 03, 2017 (GLOBE NEWSWIRE) — TGS reported net revenues of USD 108 million in Q2 2017, slightly below Q2 2016 but up 25% from Q1 2017. Strong cash flow from operations of USD 59 million was a significant improvement from USD 9 million in Q2 2016. Quarterly dividend will be maintained at USD 0.15 per share.

2nd Quarter Highlights

  • Consolidated net revenues were USD 108 million, slightly below USD 114 million in Q2 2016
  • Net late sales totaled USD 79 million, compared to USD 84 million in Q2 2016
  • Net pre-funding revenues were USD 27 million (an increase of 3% from Q2 2016), funding 46% of TGS’ operational multi-client investments for the quarter
  • Operational multi-client investments were USD 59 million in addition to USD 2 million from risk sharing arrangements
  • Operating profit (EBIT) was USD 18 million (17% of net revenues), compared to USD 22 million (19% of net revenues) in Q2 2016
  • Cash flow from operations was USD 53 million, a significant improvement from USD 9 million in Q2 2016
  • Free cash flow (after multi-client investments) was USD 12 million, compared to negative free cash flow of USD -35 million in Q2 2016
  • Cash balance at 30 June 2017 was USD 239 million in addition to the undrawn USD 75 million Revolving Credit Facility
  • Earnings per share (fully diluted) were USD 0.09, compared to USD 0.17 in Q2 2016
  • Quarterly dividend maintained at USD 0.15 per share
  • Financial guidance unchanged from 23 May 2017:
    – New multi-client investments* of approximately USD 260 million
    – Additional multi-client investments expected from sales of existing surveys with risk sharing arrangements
    – Pre-funding of new multi-client investments* expected to be approximately 40-45%

    *New multi-client investments excluding investments related to surveys with risk sharing arrangements

“Despite the challenging market conditions, customers have, to an increasing extent been willing to support quality project ideas. As such, TGS has been able to increase the order backlog substantially since the beginning of the year. In the 3rd quarter the activity with respect to data acquisition volumes will be at historically high levels and the investment and pre-funding levels are set to increase significantly from the levels experienced so far this year,” TGS’ CEO Kristian Johansen stated.

To access TGS Q2 2017 results information, please use the web links below:

Q2 2017 Presentation and Webcast
Kristian Johansen (CEO) and Sven Børre Larsen (CFO) will present the results at 9.00 am CEST at the Hotel Continental, Stortingsgata 24/26 in Oslo, Norway. The presentation is open to the public and can be followed live on the internet at www.tgs.com.

The slides from the presentation will also be available in PDF format at both the TGS and Oslo Stock Exchange websites.

Q2 2017 Conference Call

CEO Kristian Johansen and CFO Sven Børre Larsen will host a conference call on 3 August 2017 at 3.00 pm CEST (9.00 pm EDT).   Attendees may want to call 5-10 minutes before to ensure registration and access.

  • Norwegian attendees are invited to call +800 51084 or +47 2100 2610
  • International attendees are invited to call 0800 358 6377 or + 44 (0)330 336 9105
  • US attendees are invited to call +1 866 548 4713 or +1 719 325 2213

Participants will need to quote the following confirmation code when dialing into the conference: 5950879.

A Q&A session will follow a short introduction, based upon the presentation issued in the morning. To pose a question, please press *1.

A replay of the conference call will be available shortly after. To access replay of the TGS conference call:

  • dial +47 23 50 00 77 or +800 196 72 (Norway), +44 (0) 207 660 0134 or +0 808 101 1153 (International) or +1 719 457 0820 or +888 203 1112 (US)
  • replay access code 5950879 followed by # (pound-sign).

A replay of the conference call will also be available at www.tgs.com.

Company summary     

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide.  In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.

For more information visit TGS online at www.tgs.com.

Forward-looking statements and contact information

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS’ reliance on a cyclical industry and principal customers, TGS’ ability to continue to expand markets for licensing of data, and TGS’ ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol “TGSGY”.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).

Files accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/5adff388-b563-4ecf-a8ff-7f6cf47aa3c2

http://www.globenewswire.com/NewsRoom/AttachmentNg/7546a3af-dc35-4eae-9153-4623cff41206

For additional information about this press release please contact: 

Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen@tgs.com

Will Ashby
VP HR & Communication
Tel: +1 713 860 2184 
Email: will.ashby@tgs.com

88-million-USD credit package for social housing development

Vietnam completed the construction of 184 social housing projects with a total of 72,000 apartments, in the second quarter of this year and is continuing 195 other projects.

The Ministry of Construction released the information at a press conference on Wednesday, and said it is working with other ministries and provinces to arrange state budget resources to implement key social housing projects, remove administrative obstacles, and help businesses obtain loans.

The Ministry asked the Vietnam Bank for Social Policies to disburse the newly approved credit package worth 88 million USD in social housing development support this year.

Source: VOV5

Joint efforts to relieve Agent Orange pain

An art program was held in Quang Nam province on Wednesday night to honor those who have supported local Agent Orange Dioxin victims.

The event was part of activities to mark the 56th anniversary on 10 August of the Agent Orange Disaster in Vietnam.

The same day, Thai Nguyen’s Association for Victims of AO/Dioxin people launched a movement to raise fund for dioxin affected and honored generous philanthropists. The event raised 26,400 USD.

Source: VOV5

Conference on nuclear science, technology opens in Khanh Hoa

The 12th National Conference on Nuclear Science and Technology is underway in Nha Trang city, Khanh Hoa province.

Opening the event on Wednesday, Deputy Minister of Science and Technology Pham Cong Tac said the nuclear energy sector has been developing and gained encouraging outcomes in Vietnam over the past few years.

He said this year’s conference will help orient, build, and implement research programs, apply atomic energy for peaceful purposes, and enhance Vietnam’s cooperation with foreign partners.

The conference gathers leading scientists and experts from domestic and foreign research institutes, universities, hospitals, and organizations to present the latest research findings and experience in nuclear technology development, radiation safety, radioactive waste management, and personnel training.

The three-day conference features an exhibit on the application of nuclear science, technology, equipment, and techniques in socio-economic development.

Source: VOV5

Israel extends the West bank security barrier

Israel’s Defense Ministry said Wednesday that it had completed a further 42-kilometer stretch of its West Bank security barrier.

The concrete wall has separated the Palestinian village of Tarkumia, northwest of Hebron, and an Israeli crossing adjacent to the settlement of Meitar, further south.

It did not say how much of the planned 712-kilometer network of towering concrete walls, barbed-wire fences, trenches and closed military roads was now complete. Israel says the barrier, which it began building amid a wave of Palestinian terror attacks in 2002, is crucial for its security.

Palestinians see the barrier as a land grab of territory they want for a future state. Much of the barrier cuts into the West Bank, taking in about 7% of its territory.

Source: VOV5