July 26, 2022 – Page 2 – Cambodia News Gazette

July 26, 2022

Nikkiso Clean Energy & Industrial Gases Group Announces Addition of Vaporizer Manufacturing Facility in Houston, TX

TEMECULA, Calif., July 25, 2022 (GLOBE NEWSWIRE) — Nikkiso Clean Energy & Industrial Gases Group (“Group”), a part of the Nikkiso Co., Ltd (Japan) group of companies, is proud to announce yet another expansion of their manufacturing capabilities. This expansion represents their commitment to and support of their domestic industrial gas and clean energy customers.

Their new Houston, Texas, facility is now equipped to manufacture and deliver ambient vaporizers, bringing their products and support much closer to the East Coast, and Mexico markets, allowing for shorter turn-around times and reduced shipping costs for these growing markets.

Nikkiso Cryoquip Houston is already operational and ramping up to full production of the ambient air vaporizer product line, with customer deliveries already underway.

“We are excited to be able to increase our support of this important region and provide significant benefits to our customers,” according to Chris Colizzi, President of Nikkiso Cryoquip. “This expansion provides a strong support structure for future growth.”

The addition of the Houston facility also allows expanded capacity in the Group’s Murrieta, California, facility to further support their growing customer base across the Industrial Gases and Energy market segments.

ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture and service engineered cryogenic gas processing equipment (pumps, turboexpanders, heat exchangers, etc.), and process plants for Industrial Gases, Natural Gas Liquefaction (LNG), Hydrogen Liquefaction (LH2) and Organic Rankine Cycle for Waste Heat Recovery. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Nikkiso Cryo, Nikkiso Integrated Cryogenic Solutions, Cosmodyne and Cryoquip and a commonly controlled group of approximately 20 operating entities.

For more information, please visit www.nikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:

Anna Quigley
+1.951.383.3314
aquigley@cryoind.com

July 26, 2022

Chain Announces Acquisition of Measurable Data Token

Chain acquiring MDT, RewardMe & MeFi for over $100 million

Chain acquires Measurable Data Token

SAINT PAUL’S, Saint Kitts and Nevis, July 25, 2022 (GLOBE NEWSWIRE) — Chain is thrilled to announce it will be acquiring the Measurable Data Token and its ecosystem products in a deal with a value at over $100 million (subject to the total number of MDT swapped for XCN of participating MDT holders). The deal consists of acquiring the Measurable Data Token (MDT), the native digital utility token powering a decentralized data ecosystem, as well as its blockchain applications RewardMe and MeFi.

The MDT ecosystem aims to empower data rewards for individual users, while accelerating the blockchain adoption in everyday life through various innovations.

Chain will be acquiring RewardMe, a cashback app whereby users get rewarded automatically in cryptocurrencies and digital gift cards for their daily purchases. With this acquisition Chain will launch Chain Rewards, which is envisioned to be a flagship consumer facing crypto super app, connecting individual users and merchants across the globe through the Chain ecosystem. The app will be rebranded as Chain Rewards in the coming months and the utility token will become XCN.

Chain will also be acquiring MeFi, a blockchain oracle which bridges capital market data with DeFi, and is custom tailored to bring traditional finance data into oracle-powered data streams. This will power ChainFi, Chain’s oracle system designed for Sequence clients to get access to trustless data and will have XCN become its native utility token.

Over 200,000 RewardMe users will now become part of the Chain ecosystem. An additional 30,000+ on-chain MDT holders on Ethereum and BNB Chain, as well as tens of thousands of off-chain MDT exchange users will become XCN holders.

With this acquisition, there will be a sunset of the Measurable Data Token (MDT) which will be burned and swapped for XCN token. MDT token holders will receive the benefit of the swap and will be expected to receive a $0.08 MDT token value for the swap. The details of the swap are being discussed with the relevant parties and the swap is intended to occur in the next few weeks and an exact timeline will be announced. The structure of the swap will be for every one (1) MDT token, the user will receive $0.08 of XCN based on a fourteen day time weighted average price (TWAP). Fifty (50) percent of the swap, which represents $0.04, will be provided immediately upon the swap and the remaining $0.04 will be distributed to participating MDT holders via an airdrop over 4 quarters ($0.01 per quarter based on a TWAP for each release). More details regarding the timeline and mechanisms for the swap will be provided in an upcoming blog post. Digital asset exchanges will provide separate notices of the support, if any. Both teams will aim to coordinate the swaps with exchanges to ensure a smooth transition to the best of our joint abilities.

Heatherm Huang, director of MDT, has been invited to join Chain as Chief Product Officer, alongside other members of MDT currently working on the two ecosystem products (namely RewardMe and MeFi) following the acquisition. As Chain proceeds to expand its team, the mission to build forward-thinking products, and improve its services continues. The MDT team are veterans of consumer apps, and blockchain innovations. MDT’s expert engineers, product designers and marketing professionals will be integrating into Chain’s current operations.

“I am deeply excited to announce that Chain will be acquiring MDT, and will have the opportunity to work alongside the company’s brilliant team. We look forward to continuing to scale our products and reach new heights,” said Chain CEO Deepak Thapliyal.

Heatherm Huang responded, “We are anxious to see our product transform and merge with Chain’s full suite of services. We believe that joining the Chain ecosystem will continue our mission of accelerating blockchain adoption into everyday life.”

About Chain

Chain is a blockchain infrastructure solution company that has been on a mission to enable a smarter and more connected economy since 2014.

Chain offers builders in the Web3 industry services that help streamline the process of developing, and maintaining their blockchain infrastructures. Chain implements a SaaS model for its products that addresses the complexities of overall blockchain management. Chain offers a variety of products such as Ledger, Cloud, and NFTs as a service. Companies who choose to utilize Chain’s services will be able to free up resources for developers and cut costs so that clients can focus on their own products and customer experience. Learn more: https://chain.com.

For press inquiries – press@chain.com

Chain x Measurable Data Token

This content was issued through the press release distribution service at Newswire.com.

Attachment

Chain acquires Measurable Data Token

July 26, 2022

Cambodia’s Insurance Sector Remarkably Maintains Positive Growth

Cambodia’s insurance sector has significantly maintained its positive growth as the gross premium reached approximately U$$300 million in 2021.

The remark was made as the Kingdom marked the “Insurance Day 2022” on Monday.

Since late 1980s till now, 94 insurance institutions which include 18 general insurance companies, 14 life insurance companies, 7 micro-insurance companies, 1 reinsurance company, 18 insurance brokers, 34 corporate agents, and 2 loss adjusters are operating in Cambodia.

Along with the increase in the number of insurance companies, the size of the insurance market was also growing rapidly, with the gross premium increasing to approximately US$300 million in 2021, and the average growth rate for the last five years is about 20 percent.

The insurance market has remarkably maintained its positive growth at 8 percent in 2020 and about 10 percent in 2021 despite the COVID-19 pandemic.

The total sum insured in 2021 was around US$204 billion with more than 1 million policies, and the gross claim paid of approximately US$45 million.

Nowadays, Cambodian insurance market has about US$948 million in total assets, US$428 million in shareholders’ funds, and has created nearly 4,000 full-time employment, and 10,000 part-time jobs.

Speaking at the event, H.E. Bou Chanphirou, Director General of Insurance Regulator of Cambodia, said that the insurance penetration rate was about 1.11 percent and insurance density was around US$18.75 per person in 2021.

“It clearly shows that the growth of Cambodian insurance sector is still relatively low compared to the region and the world, which indicates that Cambodia’s insurance market still has more room to grow,” he said.

To fulfill the role in regulating, supervising, and developing Cambodia’s insurance sector, the Insurance Regulator of Cambodia of Non-Bank Financial Services Authority has prepared “Strategic Development Plan for Insurance Sector 2021-2030” and “Institutional Development Plan for Insurance Regulator of Cambodia 2021-2025” which were already approved by the Council of Non-Bank Financial Services Authority, in contribution to building the necessary foundations of the non-bank financial sector to propel Cambodia towards achieving the objective of “Cambodia Vision 2030-2050”.

Source: Agency Kampuchea Press

July 26, 2022

ASEAN Denounces Execution of Four Opposition Activists in Myanmar

The Association of Southeast Asian Nations (ASEAN) has expressed its strong disappointment over the execution of four opposition activists in Myanmar.

“ASEAN denounces and is strongly disappointed by the execution of four opposition activists, including Phyo Zeyar Thaw, Kyaw Min Yu, Hla Myo Aung and Aung Thura Zaw, despite the appeals by Samdech Techo Prime Minister Hun Sen of Cambodia, in his capacity as the ASEAN Chair, as well as other ASEAN Member States, for the sentences to be reconsidered. This is an issue that ASEAN takes seriously,” said the ASEAN Chairman’s Statement dated July 25.

While the complexity of the crisis is well recognised and the extreme bellicose mood can be felt from all corners of Myanmar, the statement continued, ASEAN as a whole has called for utmost restraint, patience and efforts to avoid escalating the situation. The implementation of the death sentences, just a week before the 55th ASEAN Ministerial Meeting is highly reprehensible as it created a setback to and present a gross lack of will to support the efforts, particularly by the ASEAN Chair, in expediting progress on the implementation of the of the Five-Point Consensus (5PC), namely in building trust and confidence to engender a dialogue among all parties concerned, in order to end violence and alleviate the suffering of the innocent people.

“ASEAN remains committed to the principles of the ASEAN Charter and the mandate of the 5PC. Cambodia, as the ASEAN Chair, wishes to echo the overwhelming voices within ASEAN and the international community in urging the authorities in Naypyitaw to take concrete actions to effectively and fully implement the 5PC. We strongly and urgently call on all parties concerned to desist taking actions that would only further aggravate the crisis, hinder peaceful dialogue among all parties concerned, and endanger peace, security and stability, not only in Myanmar, but the whole region,” it underlined.

ASEAN remains resolved to assist Myanmar’s return to normalcy and democratic transition and to find a peaceful political solution to the current crisis through inclusive dialogue that is Myanmar-led and Myanmar-owned, in line with the 5PC and the ASEAN Charter, said the statement, stressing that this is urgently needed to prevent further loss of lives and end the suffering of the people of Myanmar.

Source: Agency Kampuchea Press

July 26, 2022

Some 2,000 Runner to Join Khmer Empire Marathon 2022

The organising team expects some 2,000 participants will attend the 7th Khmer Empire Marathon 2022 in the first weekend of August at Siem Reap province.

The number was shared during a recent preparation meeting chaired by H.E. Vath Chamroeun, Secretary of State of the Ministry of Tourism and Mr. Ing Kim Leang, Deputy Provincial Governor of Siem Reap, at the provincial hall.

According to H.E. Vath Chamroeun, the participants registered for the running on Aug. 7 were from 26 countries.

Representing the provincial authority, Mr. Ing Kim Leang fully supported the event and called on competent forces to cooperate with the National Olympic Committee of Cambodia to successfully organise the event.

The Khmer Empire International Marathon was cancelled in the past two years due to COVID-19 threat.

The event aims at attracting tourists for the on-going Cambodia rainy season and contributing to financing children’s hospitals, social work and other humanitarian activities.

As Cambodia will host the 32nd SEA Games in 2023, the marathon is also meant to cheer the coming games.

Source: Agency Kampuchea Press