Latest news with #Chin
Yahoo
4 hours ago
- Business
- Yahoo
All Charges Dismissed Against Dr. Kingsley R. Chin and His Companies as DOJ Case Concludes
After a multi-year DOJ investigation, all criminal charges against Dr. Kingsley R. Chin and his medical device company, SpineFrontier, have been dismissed, allowing him to focus on transforming spine care and improving patient outcomes. FORT LAUDERDALE, Fla., May 30, 2025 /PRNewswire/ -- All criminal charges have been dismissed against Dr. Kingsley R. Chin and his medical device companies, bringing an end to a multi-year investigation by the U.S. Department of Justice (DOJ). The case began in 2016 after three former employees, acting as whistleblowers under the False Claims Act, triggered a civil inquiry into Dr. Chin and SpineFrontier , the company he founded and led as CEO since 2006. That civil matter was fully resolved in November 2023. In 2021, the DOJ initiated a separate criminal investigation. In early 2025, charges against SpineFrontier were formally dismissed. By May 2025, the DOJ moved to dismiss all remaining charges against Dr. Chin. "All of the charges in the Indictment and Superseding Indictment against Dr. Chin have been or are going to be dismissed, as the case resolved for a lesser charge," stated Dr. Chin's legal counsel in a recent interview. Dr. Chin is a Harvard-trained professor and board-certified orthopedic spine surgeon and a graduate of Harvard Business School. He is widely recognized for pioneering Less Exposure Spine Surgery (LESS™), a philosophy that advances outpatient spine care and empowers physician-led medical innovation. With this legal chapter now coming to a close, Dr. Chin remains focused on transforming spine care and improving patient outcomes through continued innovation and leadership in the medical technology field. About SpineFrontier in 2006, SpineFrontier was built on a foundation of collaboration and innovation. Along with its strategic advisory board of spine surgeons, the company developed a portfolio of Less Exposure Spine Surgery (LESS) technologies designed to improve patient outcomes and simplify procedures for outpatient spine surgery. About KIC in 2013 as the venture arm of Kingsley Investment Company (KIC) LLC, KIC Ventures focuses exclusively on advancing outpatient spine surgery through its Less Exposure Spine Surgery (LESS™) philosophy. With a portfolio of innovative spine technologies and a commitment to empowering physicians, KIC Ventures has become the world's largest private equity firm with a majority-owned portfolio of differentiated spine companies focused on outpatient spine solutions. View original content to download multimedia: SOURCE KIC Ventures Sign in to access your portfolio
Yahoo
17 hours ago
- Business
- Yahoo
April Air Cargo Demand Climbs 5.8% as De Minimis Reform Drives Pre-Deadline Surge
Air cargo demand escalated in April amid sweeping tariffs implemented on U.S. trade partners as importers rushed to get more product into the country. Total demand, measured in cargo tonne-kilometers (CTKs), rose by 5.8 percent compared to April 2024 levels, and 6.5 percent for international flights, according to data from the International Air Transport Association (IATA). On a seasonally adjusted basis, CTKs increased by 2.3 percent from the month prior. More from Sourcing Journal U.S. Court of International Trade Blocks Trump's 'Liberation' Tariffs FDRA Pushes Trump For Relief as Vietnam Tariff Talks Resume in June CMA CGM's $600M Vietnam Port Project Reflects 'Sharp' Container Demand The April demand growth was an improvement over the March increase of 4.4 percent and February's rate contraction of 0.1 percent. 'Seasonal demand for fashion and consumer goods—front-loading ahead of U.S. tariff changes—and lower jet fuel prices have combined to boost air cargo,' said Willie Walsh, IATA's director general, in a statement. 'With available capacity at record levels and yields improving, the outlook for air cargo is encouraging.' Capacity, measured in available cargo tonne-kilometers (ACTKs), is outpacing demand. Air cargo space has increased by 6.3 percent compared to the year prior, and 6.9 percent for international operations. The closure of the de minimis provision on May 2 also played a role in the demand growth. Under that trade exemption, companies could ship parcels with less than $800 worth of goods into the U.S. tax free. In axing that arrangement, e-commerce companies would need to fly out more cargo ahead of the early May deadline to avoid an extra 120 percent import tax. That tax was amended to 54 percent later in the month. However, a U.S. federal court injunction on the Trump administration's tariff policies imposed under the International Emergency Economic Powers Act (IEEPA) on Wednesday is putting the future of the tariffs in doubt. That decision is expected to be appealed to a higher court, and it is likely the administration will look to other legal avenues to implement some form of duties. The current 30-percent tariffs levied on Chinese imports and the 'reciprocal' 10-percent country-specific tariffs on dozens of other trade partners are part of the injunction, which went into effect once the court ruling took place. The de minimis suspension also falls under this purview. 'Shifts in trade policy, particularly in the U.S., are already reshaping demand and export dynamics. Airlines will need to remain flexible as the situation develops over the coming months,' said Walsh in a statement. This flexibility could be key for airlines, particularly if de minimis remains back on the table for an extended period. 'If the ruling removes the U.S. suspension of de minimis for Chinese goods, we could see a rebound in B2C volumes via air cargo,' said Judah Levine, head of research at Freightos. 'But with bipartisan interest in limiting Chinese e-commerce channels, and as platforms like Temu and Shein have already pivoted toward ocean and domestic fulfillment, the rebound may be partial or short-lived.' Ahead of the de minimis ban, Asia-Pacific airlines saw the second-largest year-over-year demand growth for air cargo at 10 percent, with capacity increasing by 9.4 percent compared to April 2024. Latin American carriers saw the strongest demand growth at 10.1 percent, with capacity jumping 8.5 percent. In total, cross-border shipments gained 6.5 percent year-over-year in April 2025. Tariff policy reversals including a 90-day pause on the previous 145-percent tariffs slapped on Chinese goods resulted in a recovery from Asia, as well as the softened import tax on formerly de minimis-eligible goods, prompted a brief spike in trans-Pacific tonnage via air. According to WorldACD, air cargo from China and Hong Kong to the U.S. rose 19 percent from the week prior in the week of May 12-18. That followed two weeks of significant week-over-week declines and takes tonnages from China and Hong Kong to the U.S. back up close to their level in early April and in late February, prior to volumes surging in March ahead of the higher 'Liberation Day' tariffs. In total, chargeable weight from China and Hong Kong to all markets increased 8 percent from the week prior. Regardless of how the tariff situation plays out for goods flown out of China and the Asia Pacific region, the uncertainty is leading the air freight sector to a slower year than originally anticipated. The IATA is expected to update its prior demand forecast, which had called for a 6-percent increase in 2025, at its annual general meeting in New Delhi from June 1-3. According to the lobbying group's director of sustainability and economics, Andrew Matters, a downgrade is likely in order. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
BusinessToday
19 hours ago
- Business
- BusinessToday
Reach Ten Posts RM7.1 Million In Net Profit, Declares Maiden Dividend Post-Listing
Sarawak-based telecommunications company Reach Ten Holdings Bhd has declared its first interim single-tier dividend of one sen per share, amounting to RM10 million, for the financial year ending Dec 31, 2025. The dividend will be paid on July 31, 2025, to shareholders on record as of June 30, 2025. The announcement comes shortly after the company's listing on Bursa Malaysia's Main Market on May 2, and marks its first dividend payout as a public entity. Managing Director Leo Chin said the move aligns with Reach Ten's policy to distribute up to 30% of the company's net profit, reflecting its focus on sustainable shareholder returns. 'With healthy cash and bank balances and fixed deposits of RM63 million, Reach Ten aims to strike a balance between rewarding shareholders and reinvesting for future growth,' Chin noted. Chin shared that for the company's first quarter results for the period ended March 31, 2025 (1Q25), Reach Ten posted a net profit of RM7.1 million on revenue of RM23.1 million, representing two months of post-merger performance under MFRS 3 compliance. On a full-quarter basis, adjusted figures would have stood at RM28.4 million in revenue and RM8.2 million in net profit. Reach Ten's performance was driven primarily by its satellite-based communications segment, which contributed 63.2% of revenue. Fibre optic services and telecom infrastructure accounted for 21.4% and 15.4%, respectively. Chin noted that with broadband coverage in Malaysia's populated areas nearing 97.3%, and growing demand in Sarawak, Reach Ten sees strong momentum ahead. 'We remain confident in our growth trajectory, especially with our strategic focus on underserved markets in Sarawak. 'This, combined with supportive government policies and expanding infrastructure, positions us well to deliver long-term value,' Chin added. Related
Borneo Post
a day ago
- Business
- Borneo Post
Sarawak's Reach Ten posts RM7.1 million for 1QFY25, declares maiden dividend
Looking ahead, Reach Ten said the company remains upbeat about its outlook, supported by sustained growth in Malaysia's telecommunications sector. KUCHING (May 30): Newly listed Sarawakian telecommunications provider Reach Ten Holdings Berhad (Reach Ten) recorded a net profit of RM7.1 million on revenue of RM23.1 million for its first quarter results for the period ended March 31, 2025 (1QFY25). The results only cover February and March, following the completion of its subsidiaries' merger on February 5. For the two-month period, Reach Ten garnered an earnings per share of 0.89 sen. Gross profit stood at RM11.5 million, translating to a gross margin of 49.7 per cent. It also declared its first ever interim single-tier dividend of 1.0 sen per share for the financial year ending December 31, 2025 (FY25). The company in a statement today said the RM10 million payout will be made on July 21, 2025 to shareholders listed in the Record of Depositors as of June 30, 2025. Managing director Leo Chin said the dividend reflects the Company's commitment to deliver shareholder value, in line with its policy to distribute up to 30 per cent of net profit. 'With healthy cash and bank balances, as well as fixed deposits of RM63 million, Reach Ten aims to maintain a balanced approach between rewarding shareholders through dividend distributions and retaining sufficient capital to support future growth and strategic initiatives,' he said. Leo Chin The company said its strong margin was supported by the completion of service scopes under the VSAT broadband project in FY24 and continued extensions of the project this year. 'Revenue for the quarter was mainly driven by its satellite-based communication networks and services segment, which contributed 63.2 per cent of total revenue. 'Fibre optic communication networks and services accounted for 21.4 per cent, while telecommunications infrastructure and managed services contributed 15.4 per cent,' it added. There are no comparative figures from the same period last year as this is the company's second interim financial report following its Main Market listing on May 2. Chin added that the figures reflect only two months of post-merger performance, and that on a full-quarter basis, revenue and net profit would have been RM28.4 million and RM8.2 million respectively. Looking ahead, Reach Ten said the company remains upbeat about its outlook, supported by sustained growth in Malaysia's telecommunications sector. National broadband coverage in populated areas has reached 97.28 per cent, pointing to steady demand for connectivity. Sarawak has also experienced consistent growth, reinforcing the region's long-term potential. 'We remain confident in our growth trajectory, supported by rising demand for digital connectivity, favourable government policies, and continued infrastructure expansion. 'Our focus on underserved markets, especially in Sarawak, positions us well to capture future opportunities and deliver long-term shareholder value,' added Chin.
The Star
a day ago
- Entertainment
- The Star
Restaurant Shu revisits Chinese diaspora cuisine in brand new ways
When Wong Chin Hua first opened Restaurant Shu in Kuala Lumpur over a year ago, he was determined to showcase the Chinese diaspora cuisine so peculiar and precious to people of Chinese descent scattered all over the world. A year later, the intrepid chef finally feels like he has found his groove in terms of rediscovering his heritage in brand new ways. Chin, as he is better known, is a Malaysian who grew up in Singapore, where his parents worked. He went on to pursue his passion for culinary arts by working in top restaurants around Singapore like Tippling Club, as well as international eateries like the one Michelin-starred Canvas in Bangkok, Thailand, as well as Ensue by Christopher Kostow in Shenzhen, China. Ironically, the first time this Malaysian actually lived in his homeland was when the Covid-19 pandemic struck. The dissonance of belonging and yet not belonging somewhere, and the compelling narrative of his own life trajectory is what drives his cuisine. It taps into heritage, roots, migration and how cuisine can evoke both a sense of identity and conversely, be completely borderless. 'As someone who grew up as a third culture kid, and who has never really been home anywhere, identity is a very curious thing, right? I've never felt Singaporean, or even Malaysian because I didn't grow up here. Identity to me was ... 'I'm Chinese'. That was the one thing I could hold on to. 'Living in China and realising I knew nothing about my own culture ... this was my inspiration to not cook Chinese dishes but to cook instead, without identity. 'I looked at certain things which I thought really screamed 'Chinese'. But I didn't want to cook Chinese food. I just wanted my dishes to have that little sense of Chinese-ness,' he says. Chin's menu takes diners on a journey through the Chinese diaspora. — Photos: Restaurant Shu KL/Instagram With his most recent menu, Chin says these are the sort of stories he is trying to tell through food. 'When we settled on it, I was like, 'Huh, yeah, this is what I was trying to do'. I just didn't have the words to express it. And because I couldn't express it, I couldn't cook it. But now, I hope I do,' he says. The restaurant only serves tasting menus. The current one, called Identity, is priced at RM520++ per person and takes diners on a wondrous journey of discovery through meals that evoke a sense of familiarity while infusing ambitious new ideas and concepts into each meal. Chin works with just one other person in the kitchen to construct and develop the menu, and yet everything is made almost entirely from scratch, which tells you volumes about both his work ethic and ambition. Highlights from the menu include the Pomfret, Salted Plum, which is a play on Teochew-style steamed fish. Here, the fish is aged to increase its glutamic acid and give it a richer sense of umami. A riff on Teochew steamed fish, the aged pomfret is packed with flavour. Accoutrements like salted plum, ginger and mushrooms adorn the fish while a sauce fashioned out of fish bones is poured over it. Overall, the dish has those tangy, acerbic notes so reminiscent of Teochew-style steamed fish but also a sharper, almost smokier countenance from the ageing. It's a refreshing take on a classic that still pays respect to traditional ingredients and components. A course simply named Rice is actually not really rice, but bread fashioned out of it! 'The bread is something personal to me, because it is something I have been working on for eight years,' says Chin. The bread course showcases the east Asian affection for rice by using rice as a leavening agent. Here, jasmine rice is used as a leavening agent to make the bread, which is paired with gan lan cai butter accentuated with a pork fat emulsion. Gan lan cai is a traditional preserved vegetable dish typically made by curing olives and mustard greens in oil, salt and soy sauce. In this iteration, the bread is very memorable – a hardy crust gives way to a tender, airy chew while the butter is an unctuous, slightly vegetal offering with an animalistic richness running through its veins. A crowd favourite is the simply-named Yellow Wine, which highlights the beauty of Shaoxing wine, in this case, a drinking quality one transformed into a buttery liquid, which courses through the arteries and veins of the seafood that swims alongside it. This dish is a seductive mistress whose bewitching qualities will endear itself to you the minute your spoon lands on the homemade Shaoxing wine butter, which screams 'Oriental opulence' from the very first mouthful. The hands-down winner of the menu is the Shaoxing wine course, which will leave you feeling drunk with joy. If you're lucky, you might just get something off-the-the menu like the roast duck instead of the Hao You Beef or Ginger Scallion Lobster offered as part of the RM120++ supplement option. The duck is a burnished beauty with a waxy, golden-brown skin that segues to juicy, succulent meat within. It's a dish that highlights the natural attributes of this avian sensation without too many additional elements getting in the way. End your meal on a sweet note with the Dumplings, Smoked Coconut, Coconut Cashew Ice Cream. The rice dumplings here are meant to represent QQ, which is a term used in Taiwanese to describe food like fish balls or tapioca pearls (boba) that represent springiness and chewiness. This is complemented by a smoked coconut sauce and coconut cashew ice cream. As a whole, the dish has tropical nuances that pay homage to the strong coconut overtures enjoyed by many South-East Asians. The Chinese element here is in the rice dumpling, which is chewy and bouncy to the touch. It's a very pleasant denouement to the meal that will remind many Malaysian diners of home and hearth. Ultimately, Chin says he has done a lot of growing up since opening Shu and the food he serves now is telling of his odyssey of self-reflection and realisation. 'This is a direction that I feel very comfortable with,' he concludes. Restaurant Shu KL Level 8, Annexed Block, Menara IMC Jalan Sultan Ismail 50250 Kuala Lumpur Tel: 011-2769 6838 Open Tuesday to Saturday: 6pm to 11pm
