Daily Archives: February 17, 2020

Bombardier Announces its Strategic Decision to Focus on Business Aviation and its Intent to Accelerate Deleveraging through Sale of Transportation Division to Alstom

  • Bombardier, a world leader in business aviation, is well-positioned to compete in the business jet market
  • Alstom to acquire Bombardier Transportation at an Enterprise Value of $8.2 billion (EUR 7.45 billion)
  • Transaction will retire la Caisse’s participation in Bombardier Transportation (BT), la Caisse to become largest shareholder of Alstom
  • Following adjustments for liabilities, net of BT cash, and la Caisse’s interest, expected net proceeds between $4.2 and 4.5 billion will reshape capital structure 
  • Closing expected first half of 2021, subject to customary regulatory approvals

All amounts in this press release are in U.S. dollars unless otherwise indicated. Amounts in EUR are converted to USD at an 1.1 exchange rate.

MONTRÉAL, Feb. 17, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) today announced that it has made the strategic decision to focus exclusively on business aviation and plans to accelerate its deleveraging through the sale of its rail business.

“Today marks an exciting new chapter for Bombardier. Going forward, we will focus all our capital, energy and resources on accelerating growth and driving margin expansion in our market-leading $7.0 billion business aircraft franchise. With a stronger balance sheet after the completion of this transaction, an industry-leading portfolio of products, a strong backlog, and a rapidly growing aftermarket business, we will compete in this market from a position of strength,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc.

Bombardier Transportation Sale Overview

Bombardier has signed a Memorandum of Understanding (MOU) with Alstom SA and the Caisse de dépôt et placement du Québec (“la Caisse”) for the sale of its Transportation business to Alstom. Under the transaction, Bombardier and la Caisse will sell their interests in Bombardier Transportation to Alstom on the basis of an enterprise value of $8.2 billion (EUR ~7.45 billion). Total proceeds, after the deduction of debt-like items and transferred liabilities, including pension obligations, and net of BT cash, are expected to be approximately $6.4 billion, subject to upward adjustments of up to $440 million. After deducting la Caisse’s equity position between $2.1 billion and $2.3 billion, Bombardier would receive net proceeds of between $4.2 to $4.5 billion, including $550 million of Alstom shares for a fixed subscription price of EUR 47.50, monetizable after a three-month lock-up post-closing, subject to closing adjustments, indemnities and the EUR to USD exchange rate. Bombardier intends to direct these proceeds towards debt paydown and will evaluate the most efficient debt reduction strategies.

The transaction recognizes the significant value created at Transportation since the beginning of the turnaround.

“Selling the rail business will allow us to reshape and redefine our capital structure. Adding a substantial amount of cash to the balance sheet, and removing la Caisse preferred equity in Transportation, will change the game for Bombardier,” continued Bellemare. “Including expected proceeds from previously announced transactions, Bombardier would have between $6.5 and $7.0 billion of pro forma1 cash on hand, putting the Company on a brand-new footing to address its $9.3 billion of debt.”  The signing of the MOU has been unanimously approved by each of Bombardier and Alstom’s board of directors, and the transaction announced today is fully supported by la Caisse, who will become a new long-term shareholder of Alstom.

“We are confident that the sale of our rail business to Alstom is the right action for all stakeholders. As a company, their mission to provide the world’s most efficient mobility solutions, their commitment to technology and their focus on sustainability will serve our customers well. They also appreciate and value our technology and capabilities. Above all, they recognize our talented and passionate employees and the great work they have done,” Bellemare stated.

About Bombardier Aviation

Bombardier Aviation is a market-leading, $7.0 billion business1, with demonstrated performance and a clear path for growth, margin expansion and solid cash generation. For more than 30 years, Bombardier has designed, built and supported one of the largest installed bases in business jet history, which today stands at more than 4,800 aircraft. It is powered by a proud heritage, a commitment to exceptional customer service and more than 18,000 talented and passionate employees1.

Business jet deliveries are expected to grow significantly, driven by the large cabin segment. Underlying this growth, is continued global economic growth, the further expansion of charter and fractional ownership business models, and a replacement cycle supported by newer and more efficient aircraft.

Having just completed a major product investment cycle, Bombardier boasts the best aircraft product line-up in the industry. Its flagship aircraft, the all new Global 7500, is the world’s largest, longest-range and most advanced business jet. In 2019, Bombardier also brought into service its new Global 5500 and Global 6500 aircraft with better than promised performance. Bombardier Aviation’s industry-leading portfolio of aircraft also includes the Challenger 350 and Challenger 650 aircraft, best-selling in their respective class, as well as the new Learjet 75 Liberty. With a $14.4 billion backlog, the largest in the industry, Bombardier is very well positioned to compete, win, grow, and create shareholder value. For 2020, Bombardier Aviation expects to deliver 160 or more aircraft.

Bombardier continues its commitment to exceptional customer service, having announced major expansions to its service and support network. The Company is currently executing on this growth agenda through projects around the world, including new and expanded facilities in Singapore, London and Miami.

Bombardier Aviation is headquartered in Montréal, Canada and has major operations in 16 countries around the world.

Memorandum of Understanding

Pursuant to the requirements of French law, Alstom and Bombardier will initiate Works Councils information and consultation procedures prior to the signing of the transaction documents. Accordingly, and consistent with customary practice in France, Alstom, Bombardier and la Caisse reached an agreement in principle on the main terms of the transaction and entered into a MOU prior to announcing the proposed transaction. The MOU organizes the information and consultation process by Bombardier and Alstom of their respective Works Councils and contains exclusive commitments by both parties. This process is anticipated to last for approximately four to five months.

Bombardier has retained Citigroup Global Markets Inc. and UBS Investment Bank as its financial advisors and Norton Rose Fulbright as its lead legal advisor, with Jones Day advising on antitrust and competition matters outside Canada. National Bank Financial and Rockefeller Capital Management are acting as financial advisors to Bombardier’s Board of Directors.

Investor Webcast Information

Bombardier will host a conference call for investors and financial analysts on Monday, February 17, 2020 at 1:30 p.m. (EST) to discuss the transaction and information contained in this press release. A live webcast of the call and relevant financial charts will be available at www.ir.bombardier.com.

Stakeholders wishing to listen to the presentation and question and answer period by telephone may dial one of the following conference call numbers:

In English: +1 514 394 9320 or
+1 866 240 8954 (toll-free in North America)
+800 6578 9868 (overseas calls)
In French: +1 514 394 9316 or
(with translation) +1 888 791 1368 (toll-free in North America)
+800 6578 9868 (overseas calls)

A recording of the call will be available on Bombardier’s website shortly after the end of the webcast.

About Bombardier
With over 60,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2019, Bombardier posted revenues of $15.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier Inc. uses its website as a channel of distribution for material company information. Financial and other material information regarding Bombardier Inc. is routinely posted on its website and accessible at bombardier.com. Investors are hereby notified information about regular dividends declared and paid by Bombardier is only made available through its website, unless otherwise required by applicable securities laws.

Bombardier, Challenger, Challenger 350, Challenger 650, Global, Global 5500, Global 6500, Global 7500Learjet 75 Liberty are trademarks of Bombardier Inc. and its subsidiaries.

(1) Pro Forma includes the sale of Transportation and the closing of previously announced transactions. Pro Forma cash on hand includes 2020 free cash flow outlook, net of Residual Value Guarantee (RVG) payments.

For Information
Jessica McDonald
Advisor, Media Relations and Public Affairs
Bombardier Inc.
+1 514 861 9481

Patrick Ghoche
Vice President, Corporate Strategy and Investor Relations
Bombardier Inc.                          
+1 514 861 5727


This press release includes forward-looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; expected growth in demand for products and services; growth strategy, including in the business aircraft aftermarket business; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry-into-service of products and services, orders, deliveries, testing, lead times, certifications and project execution in general; competitive position; expectations regarding progress and completion of challenging Transportation projects and the release of working capital therefrom within the anticipated timeframe; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings on our business and operations; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements and ongoing review of strategic and financial alternatives; the introduction of productivity enhancements, operational efficiencies and restructuring initiatives and anticipated costs, intended benefits and timing thereof; the expected objectives and financial targets underlying our transformation plan and the timing and progress in execution thereof, including the anticipated business transition to growth cycle and cash generation; expectations and objectives regarding debt repayments and refinancing of bank facilities and maturities; and intentions and objectives for our programs, assets and operations. As it relates to the transaction discussed herein, this press release also contains forward-looking statements with respect to: the expected terms, conditions, and timing for completion thereof; the anticipated proceeds and use thereof and/or consideration therefor, as well as the anticipated benefits of such transaction and their expected impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition and cash on hand, business plan and overall strategy (including our expectation of a deleveraged profile and reshaped capital structure and the removal of CDPQ’s preferred equity in Transportation); and the fact that closing of this transaction will be conditioned on certain events occurring, including without limitation the receipt of necessary regulatory approvals, the execution of definitive documentation, receipt of Alstom shareholder approval in respect of the required capital increase and completion of relevant works council consultations.

Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “shall”, “can”, “expect”, “estimate”, “intend”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “maintain” or “align”, the negative of these terms, variations of them or similar terminology. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward-looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward-looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward-looking statements made in this press release in relation to the transaction discussed herein include the following material assumptions: the satisfaction of all closing conditions (including without limitation receipt of regulatory approvals on acceptable terms within commonly experienced time frames, the execution of definitive documentation, receipt of Alstom shareholder approval in respect of the required capital increase and successful completion of relevant works council consultations) and successful completion of such transaction within the anticipated timeframe, the realization of the intended benefits therefrom (including receipt of expected proceeds and intended use thereof) within the anticipated timeframe; the ability of the Company to retain key management and employees during the pendency and following completion of the transaction; the ability of the Company to satisfy its liabilities and meet its financial covenants and debt service obligations during the pendency and following completion of the transaction; the ability of the Company to access the capital markets as needed during the pendency and following completion of the transaction; and fulfillment by the other parties of their respective obligations, commitments and undertakings pursuant to transaction documentation and agreements in principle. In addition, the assumptions underlying the forward-looking statements made in this press release in relation to the Company’s pro forma cash on hand and stronger balance sheet include the satisfaction of all closing conditions (including without limitation receipt of regulatory approvals on acceptable terms within commonly experienced time frames) and successful completion of the sale of our operations in Belfast and Morocco and the sale of the CRJ aircraft program within the anticipated timeframe and receipt of expected proceeds and intended use thereof. For additional information, including with respect to the other assumptions underlying the forward-looking statements made in this press release, refer to the Strategic Priorities and Guidance and forward-looking statements sections in the applicable reportable segment in the MD&A of the Company’s financial report for the fiscal year ended December 31, 2019.

Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with “Brexit”, the financial condition of the airline industry, business aircraft customers, and the rail industry; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business and awarding of new contracts; book-to-bill ratio and order backlog; the certification and homologation of products and services; fixed-price and fixed-term commitments and production and project execution, including challenges associated with challenging Transportation projects and the risk that actions and initiatives undertaken by Transportation to move forward and complete such projects may not be successful, and the intended outcome and release of working capital therefrom not being realized, within the timeframe anticipated or at all; pressures on cash flows and capital expenditures based on project-cycle fluctuations and seasonality; risks associated with our ability to successfully implement and execute our strategy, transformation plan, productivity enhancements, operational efficiencies and restructuring initiatives; doing business with partners; inadequacy of cash planning and management and project funding; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial existing debt and interest payment requirements; certain restrictive debt covenants and minimum cash levels; financing support provided for the benefit of certain customers; and reliance on government support), market risks (such as risks related to foreign currency fluctuations; changing interest rates; decreases in residual values; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A of the Company’s financial report for the fiscal year ended December 31, 2019. With respect to the transaction discussed herein specifically, certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: the failure to receive or delay in receiving regulatory approvals on acceptable terms or at all, the failure to receive or delay in receiving Alstom shareholder approval in respect of the required capital increase and to complete relevant works council consultations, or otherwise satisfy the conditions to the completion of this transaction or delay in completing, and uncertainty regarding the length of time required to complete, such transaction, and all or part of the intended benefits therefrom not being realized and all or part of the anticipated proceeds therefrom not being available to the Company within the anticipated timeframe, or at all; and alternate sources of funding that would be used to replace the anticipated proceeds from such transaction may not be available when needed, or on desirable terms; the failure to enter into definitive documentation for the transaction or the occurrence of an event which would allow the other parties to terminate their respective obligations, commitments and undertakings pursuant to transaction documentation and agreements in principle; changes in the terms of the transaction; the failure by the other parties to fulfill their respective obligations, commitments and undertakings pursuant to transaction documentation and agreements in principle; the Company being unable to satisfy its liabilities and meet its financial covenants and debt service obligations during the pendency and following completion of the transaction; the failure to retain the Company’s key management, personnel and clients during the pendency and following completion of the transaction and risks associated with the loss and ongoing replacement of key management and personnel; and the impact of the announcement of the transaction on the Company’s relationships with third parties, including potentially resulting in the loss of clients, employees, suppliers, business partners or other benefits and goodwill of the business. There is a risk that a party may terminate its respective obligations under the agreements in principle and Memorandum of Understanding prior to or after definitive binding agreements being entered into, including due to circumstances surrounding the relevant Works Council consultations. There is no certainty, nor can the Company provide any assurance, that the conditions to closing of the proposed transaction will be satisfied or, if satisfied, when they will be satisfied. If the proposed transaction is not completed for any reason, there is a risk that the announcement of such transaction and the dedication of substantial resources of the Company to the completion thereof could have a negative impact on the Company’s operating results and business generally, and could have a material adverse effect on the current and future operations, financial condition and prospects of the Company, including the loss of investor confidence in connection with the Company’s ability to execute its strategic plan. In addition, failure to complete the proposed transaction for any reason could materially negatively impact the market price of the Company’s securities. If the proposed transaction is not completed for any reason, there can be no assurance that management will be successful in its efforts to identify and implement other strategic alternatives that would be in the best interests of the Company and its stakeholders within the context of existing market, regulatory and competitive conditions in the industries in which the Company operates, on favourable terms and timing or at all, and, if implemented, that such actions would have the planned results. We also have incurred significant transaction and related costs in connection with the proposed transaction, and additional significant or unanticipated costs may be incurred. With respect to the forward-looking statements made in this press release in relation to the Company’s pro forma cash on hand and stronger balance sheet, additional factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: the failure to receive or delay in receiving regulatory approvals on acceptable terms or at all, or otherwise satisfy the conditions to the completion of the sale of our operations in Belfast and Morocco and the sale of the CRJ aircraft program or delay in completing, and uncertainty regarding the length of time required to complete, such transactions, and all or part of the anticipated proceeds therefrom not being available to the Company within the anticipated timeframe, or at all; and alternate sources of funding that would be used to replace the anticipated proceeds from such transactions may not be available when needed, or on desirable terms. For more details, see the Risks and uncertainties section in Other in the MD&A of the Company’s financial report for the fiscal year ended December 31, 2019.

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นอกจาก OKChain แล้ว OKEx DEX ซึ่งเ็นจุดแลกเลี่ยนการกระจายศูนย์ของ OKEx ก็เ็นนวัตกรรมที่ไม่ควรพลาดเช่นกัน

สำหรับรายละเอียดเพิ่มเติม โรดดู ที่นี่

เกี่ยวกับ OKEx

OKEx คือผู้นำการซื้อขายแลกเลี่ยนสินทรัพย์ดิจิทัลระดับโลกที่ตั้งอยู่ในระเทศมอลตา ได้ให้บริการการซื้อขายสินทรัพย์ดิจิทัลแบบครบวงจรซึ่งรวมถึการซื้อขายแบบ Fiat-to-Token การซื้อขายแบบแลกเลี่ยนสกุลเงินตามราคาัจจุบัน การซื้อขายล่วงหน้า และการซื้อขายแบบ Perpetual Swap ให้แก่ผู้ซื้อขายทั่วโลกด้วยเทคโนโลยีบล็อกเชน ัจจุบันการซื้อขายแลกเลี่ยนมีมากกว่า 400 คู่การซื้อขายแบบล่วงหน้าและโทเคน ซึ่งช่วยให้ผู้ใช้สามารถรับกลยุทธ์ได้อย่างเหมาะสม

Vivien Choi

การใช้งาน OKChain Testnet ได้เริ่มขึ้นแล้วตอนนี้ – พร้อมด้วยแอปพลิเคชัน DeFi แรกของ OKEx DEX

วัลเลตตา, มอลตา, 11 กุมภาพันธ์ 2020 (GLOBE NEWSWIRE) — OKEx (www.okex.com) จุดแลกเปลี่ยนสกุลเงินคริปโตเคอเรนซี่และอนุพันธ์ที่ใหญ่ที่สุดในโลก ได้ประกาศการเปิดตัว OKChain บล็อกเชนสาธารณะเชิงพาณิชย์ของ OKEx เพื่อช่วยให้ชุมชนมีแอปพลิเคชันแบบกระจายศูนย์ที่มากกว่าเดิม พร้อมกันนั้น OKEx ก็ได้เปิดตัว OKEx DEX ซึ่งเป็นแอปพลิเคชันการกระจายศูนย์ครั้งแรกโดยใช้ OKChain เพื่อให้มั่นใจถึงประสบการณ์การซื้อขายและสภาพคล่องที่ดีขึ้น OKEx DEX สนับสนุนการชำระเงินแบบเรียลไทม์ในสภาพแวดล้อมที่ไม่น่าเชื่อถือ

OKChain เป็นโครงข่ายสาธารณะที่ใช้ Cosmos SDK ที่พัฒนาโดย OKEx ซึ่งรองรับแอปพลิเคชันการกระจายศูนย์ที่หลากหลาย และช่วยให้ผู้ใช้สามารถออกคริปโตเคอเรนซี่ของตัวเอง สร้างคู่การซื้อขาย และซื้อขายได้อย่างอิสระ ประสิทธิภาพและการปรับขนาดของการพัฒนาแอปพลิเคชันจะดีขึ้นอย่างมีประสิทธิภาพด้วยโครงสร้างแบบมัลติเชน OKChain แบ่งข้อมูลออกเป็นสามระดับ: บล็อก การดำเนินการ และการดึงข้อมูลจากนอกโครงข่าย ซึ่งสามารถปรับปรุงความเร็วของฉันทามติของระบบ (System Consensus) และขยายมิติของข้อมูลในโครงข่าย

OKEx ได้ออก OKT เพื่อเป็นโทเคนดั้งเดิมของ OKChain ตามระบบหาข้อสรุปของเสียงส่วนมาก Adopting a Delegated Proof of Stake (DPOS) โดยการออก OKT จะอยู่ในบล็อกต้นกำเนิดและบล็อกโหนด และคาดว่าจะเพิ่มขึ้น 1-5% ทุกปี

“เราเชื่อว่าการกระจายศูนย์ทางการเงินเป็นกุญแจสำคัญในการเข้าถึงบริการทางการเงินและอิสรภาพทางการเงินสำหรับทุกคน นั่นเป็นเหตุผลว่าทำไมเราถึงปรารถนาที่จะปลดปล่อยพลังของ DeFi OKChain เป็นความสำเร็จครั้งใหญ่ของเรา ซึ่งหมายความว่าตอนนี้เราสามารถทำการส่งมอบระบบนิเวศแบบเปิด ต้นทุนต่ำ และอัตโนมัติเพื่อให้ทุกคนได้รับประโยชน์จากบล็อกเชนและการกระจายศูนย์” Jay Hao ผู้บริหารสูงสุดของ OKEx กล่าว “การพัฒนาบล็อกเชนได้มอบประสบการณ์และความประหลาดใจใหม่ๆ ให้กับเราได้ตลอด ซึ่งในปัจจุบัน เมื่อเราพูดถึงบล็อกเชน ก็จะเป็นมากกว่าแค่ Bitcoin และโทเคนหลัก ERC-20 ในฐานะผู้นำในอุตสาหกรรม เราหวังว่า OKChain จะกลายเป็นแรงบันดาลใจในการสร้างสรรค์นวัตกรรมมากมาย และจะดึงดูดผู้ที่มีความสามารถได้มากขึ้นเพื่อเข้าร่วมการปฏิวัติบล็อกเชนกับเรา”

OKEx DEX แอปพลิเคชันการกระจายศูนย์ครั้งแรกบน OKChain

นอกจาก OKChain แล้ว OKEx DEX ซึ่งเป็นจุดแลกเปลี่ยนการกระจายศูนย์ของ OKEx ก็เป็นนวัตกรรมที่ไม่ควรพลาดเช่นกัน

สำหรับรายละเอียดเพิ่มเติม โปรดดู ที่นี่

เกี่ยวกับ OKEx

OKEx คือผู้นำการซื้อขายแลกเปลี่ยนสินทรัพย์ดิจิทัลระดับโลกที่ตั้งอยู่ในประเทศมอลตา ได้ให้บริการการซื้อขายสินทรัพย์ดิจิทัลแบบครบวงจรซึ่งรวมถึงการซื้อขายแบบ Fiat-to-Token การซื้อขายแบบแลกเปลี่ยนสกุลเงินตามราคาปัจจุบัน การซื้อขายล่วงหน้า และการซื้อขายแบบ Perpetual Swap ให้แก่ผู้ซื้อขายทั่วโลกด้วยเทคโนโลยีบล็อกเชน ปัจจุบันการซื้อขายแลกเปลี่ยนมีมากกว่า 400 คู่การซื้อขายแบบล่วงหน้าและโทเคน ซึ่งช่วยให้ผู้ใช้สามารถปรับกลยุทธ์ได้อย่างเหมาะสม

Vivien Choi

LeddarTech Joins Ecosystem Partner Renesas Electronics to Exhibit LiDAR Technology at AV20 Silicon Valley February 26-28

QUEBEC CITY, Feb. 16, 2020 (GLOBE NEWSWIRE) — LeddarTech®, an industry leader in LiDAR technology providing the most versatile and scalable auto and mobility LiDAR platform, announces today that it will exhibit the result from the collaboration with its Ecosystem partner Renesas at the AV20 Silicon Valley Conference from February 26-28 at The Pullman San Francisco Bay. Over the years, this event has proved itself to be the premier exchange for industry leaders, engineers, customers, regulators, solution providers and academia to learn, share and connect on the latest roadblocks, regulations reform, innovative developments and future trends in the industry.

LeddarTech is excited to collaborate with Renesas and will demonstrate the award-winning Leddar Pixell, a 3D solid-state cocoon LiDAR for autonomous shuttles, delivery vehicles and robotaxis. The Leddar Pixell features the LCA2 LeddarEngine™, for which LeddarTech collaborated with Renesas. The teams worked closely in the design and manufacturing of the LCA2 SoC which when combined with the LeddarSP™ signal processing library creates the LCA2 LeddarEngine, which sets the standard for the design of integrated and customizable solid-state LiDAR solutions.

The LeddarEngine, optimized for automotive Tier-1 suppliers and system integrators to design and produce a variety of highly optimized solid-state LiDAR sensors which can be used in a multitude of ADAS and AV applications for the mobility and passenger car markets, will also be showcased.

In addition to LeddarTech’s technologies, Renesas will present the R-Car V3H SoC which delivers a combination of high computer vision performance and artificial intelligence processing at low power levels, providing an optimized embedded solution for automotive front cameras in Level 2+ autonomous vehicles combined with the LiDAR Obstacle Detection Software. The LOD software uses dedicated hardware accelerators for key algorithms including convolutional neural networks, to detect 3D objects, including cars and trucks.

“We believe strong strategic partners and industry collaborations deliver significant value and benefits to our customers in the auto and mobility markets by helping to reduce development risks and lower system costs while achieving the fastest time to market” stated Michael Poulin, Vice President of Product Management at LeddarTech. “Renesas has been a strategic partner of LeddarTech’s for many years, and we are very pleased to continue to build on this partnership again for AV20. We look forward to demonstrating our latest products, the Leddar Pixell as well as our LeddarEngine platform, which includes the LCA2 and LCA3 suite of SoC and Signal Processing Library at this event” Mr. Poulin continued.

“Renesas has always enjoyed an excellent collaborative relationship with LeddarTech”, stated Tomomitsu Maoka, Senior Vice President, Deputy General Manager of the Automotive Solution Business Unit at Renesas. “LeddarTech is world-renowned as a pioneer in LiDAR technology, and we look forward to continuing our relationship as we advance toward the deployment of even more ADAS and AD vehicles around the world”.

To arrange a meeting at AV20, please visit leddartech.com/av20conference

About Renesas Electronics Corporation

Renesas Electronics Corporation delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.

About LeddarTech

LeddarTech is an industry leader providing the most versatile and scalable auto and mobility LiDAR platform based on the unique LeddarEngineTM which consists of a suite of automotive-grade, functional safety certified SoCs working in tandem with proprietary LeddarSPTM signal processing software. The company is responsible for several innovations in cutting-edge mobility remote-sensing applications, with over 70 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.

LeddarTech also serves the mobility market with solid-state high-performance LiDAR module solutions for autonomous shuttles, trucks, buses, delivery vehicles, and robotaxis. These modules are developed to support the mobility market but also to demonstrate the capabilities of LeddarTech’s auto and mobility platform as a basis for other LiDAR suppliers to build upon.

Additional information about LeddarTech can be found at www.LeddarTech.com, and  LinkedInTwitterFacebook, and YouTube.

Leddar, LeddarTech, LeddarEngine, LeddarSP, LeddarCore, and LeddarTech logos are trademarks or registered trademarks of LeddarTech Inc. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

Contact: Daniel Aitken, Vice President of Marketing and Communications, LeddarTech
Tel.: +1-418-653-9000 ext. 232 Daniel.Aitken@Leddartech.com

HCM City scales up smart city development project to all districts

The Ho Chi Minh City People’s Committee has urged all districts to conduct programmes on smart city development, with specific targets, roadmaps and implementation measures suited to the characteristics of individual locality.

In the first phase of its smart city development, the city selected districts 1 and 12 to pilot the project, and there have been some accomplishments after more than two years, Chairman of the committee Nguyen Thanh Phong said.

They include application of cutting-edge technologies in administration, and are a crucial foundation for scaling up the project to the remaining 22 districts, he told a recent meeting.

A council would be set up to study the results of the project in the two districts to ensure effective implementation in other districts, he said.

The 22 districts need to submit their programmes on smart urban development for approval by next month, he said.

Each district must exert all efforts to push up smart city initiatives to help the administration operate effectively and enhance people’s quality of life.

Nguyen Van Dung, Chairman of the People’s Committee of District 1, said his district has built a model intelligent operation centre that integrates eight systems: smart security camera system, smart firefighting system, smart urban administration, smart healthcare, smart education, smart tourism, online public services, and information security operations.

It also carried out digital transformation and interconnected information with the city management databases, he said.

For online public services, District 1 has already adopted a non-paper registration process in various sectors such as economy, labour, internal affairs and education, he said.

Online registrations rose by four times last year, he said.

As part of the city’s smart city development project, District 12 has adopted geographic information system (GIS) solutions for urban planning and environmental resource management, Le Truong Hai Hieu, Chairman of its People’s Committee, said.

It helps monitor land usage and detect illegal construction, he said.

The district has improved administrative operations using administrative document management software, which allows the public to monitor administrative procedures in real time, he said.

It has also adopted online public services in various sectors, he added.

Vo Thi Trung Trinh, deputy director of the city Information and Communications Department, said Districts need to build coordinated data systems and connect their information with the city database.

Smart city development programmes in districts need to provide convenient public services to individuals and businesses and enhance the quality of public services, she said.

Source: Vietnam News Agency

Vietnam sees positive signs in fight against COVID-19

Vietnam has seen positive signs in the fight against the acute respiratory disease caused by a novel coronavirus (COVID-19), heard a meeting of the national steering committee for prevention and control of the disease on February 17.

According to the steering committee, the disease has been controlled well in Vietnam, with no new cases detected since February 13.

Deputy Minister of Health Do Xuan Tuyen said that the COVID-19 outbreak was declared in the northern province of Vinh Phuc and the central provinces of Thanh Hoa and Khanh Hoa so far.

However, Khanh Hoa and Thanh Hoa can be soon declared to be free from the disease, as no new cases have been reported in Khanh Hoa in the past 30 days, and in Thanh Hoa in 23 days.

Meanwhile, in Vinh Phuc province where 11 infection cases were discovered, quarantine and preventive measures have been taken.

Regarding the disease treatment, Deputy Minister of Health Nguyen Truong Son said that among the 16 infection cases, seven were discharged from the hospital, while the remainders have been making good recovery.

At present, 38 people are quarantined, and the health of 602 others who had close contact with infection cases has been closely supervised.

Although the disease has been well controlled, the steering committee still requested localities to seriously take preventive measures, apply quarantine measures as regulated, and strictly conduct entry-exit procedures at border gates.

Source: Vietnam News Agency

International vocational training to be extended across country

Vocational training schools in Vietnam will continue to use curricula transferred from Australia and Germany until the end of 2020 and 2025, respectively, following the Prime Minister’s approval to extend the technical vocational education and training (TVET) reform plan.

The plan, developed by the Ministry of Labour, Invalids and Social Affairs (MOLISA), aimed to develop high-quality TVET institutes, teachers and managers as well as pilot key vocational training courses at ASEAN and international levels.

According to MOLISA Deputy Minister Le Quan, Vietnam had 45 vocational schools offering 12 Australian courses and 22 German courses.

Tuition fees for these courses are kept low while the diplomas they receive are issued by either our Australian or German counterparts, he said.

Nearly 300 teachers have taken English language courses in Australia under the plan, and will go on to train other teachers in the vocational education sector.

Meanwhile, more than 260 teachers were sent to Germany to consolidate their lecturing and vocational skills in preparation for 66 new courses that started in November 2019.

The schools include the Lilama 2 International College, the Hanoi College of Electro-mechanics and the Hue Industrial College, which are highly valued for their facilities.

New opportunities

Nguyen Tien Thinh enrolled at Bac Ninh Province Electro-mechanics Vocational College after taking a gap year, a bad decision in the eyes of many Vietnamese people.

The programme, which is transferred from Australia, is much more demanding than the domestic equivalent. As trainees are requested to reach B1 English level, the 23-year-old spent a year studying the language.

After another two and a half years of professional training, my English skills were good enough to work for foreign companies. If I go to work in Europe, I only need to submit the English certificate besides the vocational education diploma, Thinh said.

Having both professional and English languages skills are advantages for the programme’s graduates.

Vu Hoai Phuong, director of Hue Tourism College in Thua Thien-Hue province, said collaboration with foreign vocational training colleges helped Vietnamese counterparts approach international standard curricula. Graduates from Hue Tourism College’s two courses on resort management and tour guide training following Australian standards secure improved job opportunities.

Our transferred programmes are evaluated by German experts. After any session, trainees have to fill an assessment form. These programmes also ask trainees to have a one-year internship at companies, accounting for 30 per cent of the curricula, said Dong Van Ngoc, director of Hanoi College of Electro-mechanics.

The school has offered two German courses of industrial electricity and metal cutting since the end of 2019 with 16 trainees for each class.


Prime Minister Nguyen Xuan Phuc urged Vietnam’s vocational training to efficiently promote labourers’ skills at Skilling up Vietnam the country’s largest-ever forum on vocational training held in Hanoi in November 2019.

He stressed that the population of nearly 100 million people was the economy’s major engine, not natural resources.

Labour skills, management skills, intellectual capacity and professional capacity determine national growth, said PM Phuc.

Expanding the scale and improving the quality of vocational training plays an important part of creating skilled human resources and increasing productivity, he added.

However, the percentage of domestic businesses working with vocational schools remained low at 12.3 per cent, according to a report released by the National Assembly’s Committee for Culture, Education, Youth, Adolescents and Children released in last October.

Loose cooperation made it difficult to improve vocational education, satisfy the market’s rising demands for workers and solving unemployment in Vietnam, the report said.

Source: Vietnam News Agency