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Tecsys Reports Financial Results for the First Quarter of Fiscal 2025

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SaaS subscription bookings up 57%, SaaS RPO climbs 40%

MONTREAL, Sept. 5, 2024 /CNW/ — Tecsys Inc. (TSX: TCS), an industry-leading supply chain management SaaS company, today announced its results for the first quarter of fiscal 2025, ended July 31, 2024. All dollar amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards (IFRS).

“We kicked off fiscal 2025 with solid momentum, setting a positive tone for the year ahead,” said Peter Brereton, president and CEO at Tecsys. “Our continued SaaS performance is supported by the strength of our team and the impact of our partners, together driving growth in a highly engaged market. The supply chain market is on the move, and we like our competitive position. We are confident in our ability to build on this strong start.”

Mark Bentler, chief financial officer of Tecsys Inc., added, “Our Q1 fiscal 2025 financial performance showcases 57% SaaS bookings growth, 40% SaaS RPO growth and 33% SaaS revenue growth compared to the same quarter last year and we are pleased that our underlying SaaS margins continue to trend positively.” 

First Quarter Highlights:

SaaS revenue increased by 33% to $15.3 million, up from $11.5 million in Q1 2024.SaaS subscription bookingsi (measured on an ARRi basis) increased by 57% to $3.0 million, compared to $1.9 million in the first quarter of fiscal 2024.SaaS Remaining Performance Obligation (RPOi) increased by 40% to $194.9 million at July 31, 2024, up from $139.4 million at the same time last year.Total revenue increased to $42.3 million compared to $42.0 million in Q1 2024.Net profit was $0.8 million or $0.05 per share on a fully diluted basis in Q1 2025, compared to $1.2 million or $0.08 per share for the same period in fiscal 2024.Adjusted EBITDAii was $2.6 million compared to $3.2 million reported in Q1 last year.In the first quarter of fiscal 2025, Tecsys acquired 59,600 of its outstanding common shares for approximately $2.2 million as part of its ongoing Normal Course Issuer Bid.

Financial Guidance:

Tecsys is reiterating previously presented financial guidance as follows:

FY25 Guidance

FY26 Guidance

Total Revenue Growth

7-9%

n.a.

SaaS Revenue Growth

30-32%

n.a.

Adjusted EBITDAii Margin

8-9%

10-11%

On September 5, 2024, the Company declared a quarterly dividend of $0.08 per share to be paid on October 4, 2024 to shareholders of record on September 20, 2024.

Pursuant to the Canadian Income Tax Act, dividends paid by the Company to Canadian residents are considered to be “eligible” dividends.

Q1 2025 Financial Results Conference Call
Date: September 6, 2024
Time: 8:30 a.m. ET
Phone number: 800-836-8184 or 646-357-8785
The call can be replayed until September 13, 2024, by calling:
888-660-6345 or 646-517-4150 (access code: 81086#)

i See Key Performance Indicators in Management’s Discussion and Analysis of the Q1 2025 Financial Statements.

ii See Non-IFRS Performance Measures in Management’s Discussion and Analysis of the Q1 2025 Financial Statements.

About Tecsys

Tecsys is a global provider of advanced supply chain solutions. With a commitment to innovation and customer success, the company equips organizations with the essential software, technology and expertise needed for operational excellence and competitive advantage. Its cloud solutions serve a diverse range of industries, including healthcare, distribution and converging commerce, across multiple complex, regulated and high-volume markets. Built on the Itopia® low-code application platform, Tecsys’ offerings include enterprise resource planning, warehouse management, consolidated service management, distribution and transportation management, supply management at the point of use and order management solutions. Tecsys provides critical data insights and control across the supply chain, ensuring that organizations are agile, responsive and scalable.

Tecsys is publicly traded on the Toronto Stock Exchange under the ticker symbol TCS. For more about Tecsys and its solutions, please visit www.tecsys.com.

Forward Looking Statements
The statements in this news release relating to matters that are not historical fact are forward-looking statements that are based on management’s beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that Tecsys Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of Tecsys Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with Tecsys Inc.’s business can be found in the MD&A section of the Company’s annual report and the most recently filed annual information form. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR+ (www.sedarplus.ca).

Copyright © Tecsys Inc. 2024. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.

Non-IFRS Measures

Reconciliation of EBITDA and Adjusted EBITDA

EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation and amortization. Adjusted EBITDA is calculated as EBITDA before stock-based compensation and restructuring costs. The exclusion of interest expense, interest income, income taxes and restructuring costs eliminates the impact on earnings derived from non-operational activities and non-recurring items, and the exclusion of depreciation, amortization and stock-based compensation eliminates the non-cash impact of these items.

The Company believes that these measures are useful measures of financial performance without the variation caused by the impacts of the items described above and that could potentially distort the analysis of trends in our operating performance. In addition, they are commonly used by investors and analysts to measure a company’s performance, its ability to service debt and to meet other payment obligations, or as a common valuation measurement. Excluding these items does not imply that they are necessarily non-recurring. Management believes these non-IFRS financial measures, in addition to conventional measures prepared in accordance with IFRS, enable investors to evaluate the Company’s operating results, underlying performance and future prospects in a manner similar to management. Although EBITDA and Adjusted EBITDA are frequently used by securities analysts, lenders and others in their evaluation of companies, they have limitations as an analytical tool, and should not be considered in isolation, or as a substitute for analysis of the Company’s results as reported under IFRS.

The reconciliation of EBITDA and Adjusted EBITDA to the most directly comparable IFRS measure is provided below.

       Three months

         Trailing 12 months

       ended July 31,

            ended July 31,

(in thousands of CAD)

2024

2023

2024

2023

Net profit for the period

$

798

$

1,171

$

1,476

$

3,220

Adjustments for:

Depreciation of property and equipment and right-of-use assets

371

384

1,464

1,729

Amortization of deferred development costs

197

142

638

536

Amortization of other intangible assets

334

396

1,431

1,603

Interest expense

25

38

150

325

Interest income

(217)

(269)

(963)

(851)

Income taxes

436

859

218

2,458

EBITDA

$

1,944

$

2,721

$

4,414

$

9,020

Adjustments for:

Stock based compensation

647

452

2,496

2,153

Restructuring costs

2,122

Adjusted EBITDAii

$

2,591

$

3,173

$

9,032

$

11,173

 

Condensed Interim Consolidated Statements of Financial Position
(Unaudited)

(In thousands of Canadian dollars)

July 31, 2024

April 30, 2024

Assets

Current assets

Cash and cash equivalents

$

10,705

$

18,856

Short-term investments

16,358

16,713

Accounts receivable

19,691

22,090

Work in progress

6,739

4,248

Other receivables

449

134

Tax credits

7,708

6,422

Inventory

2,073

1,359

Prepaid expenses and other

8,294

9,143

Total current assets

72,017

78,965

Non-current assets

Other long-term receivables and assets

552

421

Tax credits

4,914

4,737

Property and equipment

1,319

1,372

Right-of-use assets

1,147

1,251

Contract acquisition costs

4,466

4,478

Deferred development costs

2,938

2,683

Other intangible assets

7,450

7,703

Goodwill

17,470

17,363

Deferred tax assets

9,073

9,073

Total non-current assets

49,329

49,081

Total assets

$

121,346

$

128,046

Liabilities

Current liabilities

Accounts payable and accrued liabilities

18,153

20,030

Deferred revenue

33,261

36,211

Lease obligations

826

812

Total current liabilities

52,240

57,053

Non-current liabilities

Other long-term accrued liabilities

339

496

Deferred tax liabilities

840

826

Lease obligations

1,094

1,302

Total non-current liabilities

2,273

2,624

Total liabilities

$

54,513

$

59,677

Equity

Share capital

$

52,394

$

52,256

Contributed surplus

7,992

9,417

Retained earnings

7,735

8,121

Accumulated other comprehensive loss

(1,288)

(1,425)

Total equity attributable to the owners of the Company

66,833

68,369

Total liabilities and equity

$

121,346

$

128,046

 

Condensed Interim Consolidated Statements of Income and Comprehensive Income
(Unaudited)

(In thousands of Canadian dollars, except per share data)

Three Months Ended July 31,

2024

2023

Revenue:

SaaS

$

15,314

$

11,495

Maintenance and Support

8,715

8,298

Professional Services

13,387

14,908

License

861

456

Hardware

3,999

6,818

Total revenue

42,276

41,975

Cost of revenue

22,548

22,475

Gross profit

19,728

19,500

Operating expenses:

Sales and marketing

8,352

7,671

General and administration

2,978

2,959

Research and development, net of tax credits

7,331

7,112

Total operating expenses

18,661

17,742

Profit from operations

1,067

1,758

Other income

167

272

Profit before income taxes

1,234

2,030

Income tax expense

436

859

Net profit

$

798

$

1,171

Other comprehensive income (loss):

Effective portion of changes in fair value on designated revenue hedges

(20)

2,573

Exchange differences on translation of foreign operations

157

(426)

Comprehensive income

$

935

$

3,318

Basic and diluted earnings per common share

$

0.05

$

0.08

 

Condensed Interim Consolidated Statements of Cash Flows
(Unaudited)

(In thousands of Canadian dollars)

Three Months Ended July 31,

2024

2023

Cash flows from operating activities:

Net profit

$

798

$

1,171

Adjustments for:

Depreciation of property and equipment and right-of-use-assets

371

384

Amortization of deferred development costs

197

142

Amortization of other intangible assets

334

396

Interest (income) expense and foreign exchange (gain) loss

(167)

(272)

Unrealized foreign exchange and other

(123)

(1,198)

Non-refundable tax credits

(429)

(440)

Stock-based compensation

647

452

Income taxes

3

14

Net cash from operating activities excluding changes in non-cash working capital items related to operations

1,631

649

Accounts receivable

2,434

(1,820)

Work in progress

(2,486)

(829)

Other receivables and assets

(520)

(262)

Tax credits

(1,034)

(1,071)

Inventory

(714)

(842)

Prepaid expenses

903

(283)

Contract acquisition costs

(39)

3

Accounts payable and accrued liabilities

(3,119)

(3,566)

Deferred revenue

(2,961)

1,376

Changes in non-cash working capital items related to operations

(7,536)

(7,294)

Net cash used in operating activities

(5,905)

(6,645)

Cash flows from financing activities:

Payment of lease obligations

(198)

(199)

Interest paid

(25)

(38)

Issuance of common shares on exercise of stock options

277

1,763

Shares repurchased and cancelled

(2,211)

Net cash (used in) provided by financing activities

(2,157)

1,526

Cash flows from investing activities:

Interest received

24

36

Transfers from short-term investments

548

22

Acquisitions of property and equipment

(209)

(102)

Deferred development costs

(452)

(247)

Net cash used in investing activities

(89)

(291)

Net decrease in cash and cash equivalents during the period

(8,151)

(5,410)

Cash and cash equivalents – beginning of period

18,856

21,235

Cash and cash equivalents – end of period

$

10,705

$

15,825

 

Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited)

(In thousands of Canadian dollars, except number of shares)

Share capital

Contributed
Surplus

 

Accumulated other
comprehensive
(loss) income

Retained
earnings

Total

Number

Amount

Balance, May 1, 2024

14,840,150

$

52,256

$

9,417

$

(1,425)

$

8,121

$

68,369

Net profit

798

798

Other comprehensive (loss) income:

Effective portion of changes in fair value on designated revenue hedges

(20)

(20)

Exchange difference on translation of foreign operations

157

157

Total comprehensive income

137

798

935

Shares repurchased and cancelled

(59,600)

(210)

(2,001)

(2,211)

Stock-based Compensation

647

647

Dividends to equity owners

(1,184)

(1,184)

Share options exercised

12,537

348

(71)

277

Total transactions with owners of the Company

(47,063)

$

138

(1,425)

$

$

(1,184)

$

(2,471)

Balance, July 31, 2024

14,793,087

$

52,394

7,992

$

(1,288)

$

7,735

$

66,833

Balance, May 1, 2023

14,582,837

$

44,338

15,285

$

(17)

$

10,832

$

70,438

Net profit

1,171

1,171

Other comprehensive income:

Effective portion of changes in fair value on designated revenue hedges

2,573

2,573

Exchange difference on translation of foreign operations

(426)

(426)

Total comprehensive income

2,147

1,171

3,318

Stock-based Compensation

452

452

Dividends to equity owners

(1,102)

(1,102)

Share options exercised

111,306

2,307

(544)

1,763

Total transactions with owners of the Company

111,306

$

2,307

(92)

$

$

(1,102)

$

1,113

Balance, July 31, 2023

14,694,143

$

46,645

15,193

$

2,130

$

10,901

$

74,869

 

SOURCE Tecsys Inc.

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Air Products to Expand Integrated Gas Supply Network for Semiconductor Manufacturer in Taiwan

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New investment to support next-generation facility expansion

TAIPEI, July 22, 2026 /PRNewswire/ — Air Products (NYSE:APD), a world-leading industrial gases company, today announced Air Products San Fu has been awarded a long-term agreement to support a semiconductor manufacturer’s expansion in Taiwan. The project will supply multiple new semiconductor fabs and back-end packaging facilities, supporting growing demand driven by artificial intelligence and high-performance computing.

Air Products San Fu will build, own, and operate four large state-of-the-art air separation units and bulk gas supply systems with new underground pipeline systems. The company will supply a range of industrial gases, including nitrogen, oxygen, argon, and helium to support the customer’s semiconductor operations.

The new underground pipeline systems will be connected to Air Products’ existing pipeline network in Taiwan, further enhancing supply reliability, operational efficiency, and resilience.  

“Air Products is honored to be selected by our strategic customer to support their continued growth, building on our proven track record and strong long-term partnership,” said Paul Yang, President, Air Products San Fu. “This project further reinforces our role as a trusted supplier in Taiwan and reflects our long-term commitment to grow with our customers. It also underscores our world-class performance in safety, reliability and operational excellence, which are critical to meeting the increasingly demanding requirements of the electronics industry.”

Air Products has been serving the Taiwan market through Air Products San Fu for more than 70 years and has established leading supply positions across key science parks with extensive pipeline networks. The company operates one of the world’s largest ultra-high purity nitrogen pipeline systems in Southern Taiwan and is the first gas company in Taiwan awarded ISO9002 and ISO14000 certifications. 

This latest project further strengthens Air Products’ integrated supply footprint across both front-end semiconductor manufacturing and back-end advanced packaging, reinforcing its position as a key supplier to the electronics industry in Taiwan.

Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world’s leading technology companies.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global hydrogen supplier, Air Products develops, engineers, builds, owns and operates some of the world’s largest hydrogen projects. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedInXFacebook or Instagram.

This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/air-products-to-expand-integrated-gas-supply-network-for-semiconductor-manufacturer-in-taiwan-302831489.html

SOURCE Air Products and Chemicals, Inc.

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Air Products to Expand Integrated Gas Supply Network for Semiconductor Manufacturer in Taiwan

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By

New investment to support next-generation facility expansion

TAIPEI, July 22, 2026 /PRNewswire/ — Air Products (NYSE:APD), a world-leading industrial gases company, today announced Air Products San Fu has been awarded a long-term agreement to support a semiconductor manufacturer’s expansion in Taiwan. The project will supply multiple new semiconductor fabs and back-end packaging facilities, supporting growing demand driven by artificial intelligence and high-performance computing.

Air Products San Fu will build, own, and operate four large state-of-the-art air separation units and bulk gas supply systems with new underground pipeline systems. The company will supply a range of industrial gases, including nitrogen, oxygen, argon, and helium to support the customer’s semiconductor operations.

The new underground pipeline systems will be connected to Air Products’ existing pipeline network in Taiwan, further enhancing supply reliability, operational efficiency, and resilience.  

“Air Products is honored to be selected by our strategic customer to support their continued growth, building on our proven track record and strong long-term partnership,” said Paul Yang, President, Air Products San Fu. “This project further reinforces our role as a trusted supplier in Taiwan and reflects our long-term commitment to grow with our customers. It also underscores our world-class performance in safety, reliability and operational excellence, which are critical to meeting the increasingly demanding requirements of the electronics industry.”

Air Products has been serving the Taiwan market through Air Products San Fu for more than 70 years and has established leading supply positions across key science parks with extensive pipeline networks. The company operates one of the world’s largest ultra-high purity nitrogen pipeline systems in Southern Taiwan and is the first gas company in Taiwan awarded ISO9002 and ISO14000 certifications. 

This latest project further strengthens Air Products’ integrated supply footprint across both front-end semiconductor manufacturing and back-end advanced packaging, reinforcing its position as a key supplier to the electronics industry in Taiwan.

Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world’s leading technology companies.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global hydrogen supplier, Air Products develops, engineers, builds, owns and operates some of the world’s largest hydrogen projects. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedInXFacebook or Instagram.

This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/air-products-to-expand-integrated-gas-supply-network-for-semiconductor-manufacturer-in-taiwan-302831489.html

SOURCE Air Products and Chemicals, Inc.

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UOB partners Visa to launch new Visa Infinite tiers across ASEAN in landmark multi-market launch of such scale

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More than 300,000 cardholders will enjoy expanded suite of premium benefits as UOB strengthens its regional leadership in premium payment solutions.

SINGAPORE, July 22, 2026 /PRNewswire/ — UOB has partnered with Visa, a global leader in digital payments, to relaunch several card products across its five key markets (Singapore, Malaysia, Thailand, Indonesia and Vietnam) under Visa’s newly introduced premium card tiers, Visa Infinite Privilege and Visa Infinite Private.

UOB is progressively upgrading its suite of affluent and high-net-worth (HNW) card solutions to the new Visa Infinite tiers, reinforcing the Bank’s leadership in premium card innovation. With the relaunch, more than 300,000 UOB Visa Infinite cardholders across ASEAN will be upgraded to higher card tiers, giving them access to an expanded suite of premium benefits. All other cardholders will continue to enjoy their existing privileges, with no downgrades across the portfolio. Eligible UOB Visa Infinite cardholders will be notified of their new card tiers via UOB’s official channels from September onwards, with no action required from them.

UOB is currently Visa’s largest card issuer in ASEAN[1] and brings an unparalleled regional footprint and customer base, serving over 8.5 million customers across the region. As the first Visa issuer across ASEAN to execute a launch of this scale across multiple markets, UOB and Visa are setting a new benchmark for regional card offerings, delivering elevated privileges and experiences to affluent cardmembers in the region. This collaboration is timely as affluent spending in ASEAN experiences strong growth. The number of new UOB affluent cardholders[2] grew over 10 per cent year-on-year in 2025, while card billings for this segment surged more than 25 per cent in the same year.

Visa unveiled its refreshed Visa Infinite offering in Asia Pacific on 16 July 2026, reimagined for the evolving needs of today’s affluent consumers. Anchored in a three-tier card suite, the enhanced platform introduces greater flexibility, personalisation and differentiated benefits across the affluent spectrum. In addition to Visa Infinite, the portfolio now includes the newly launched Visa Infinite Privilege and Visa Infinite Private, enabling issuers to deliver more tailored value propositions, experiences and rewards to distinct customer segments within a unified premium framework.

Selected top-tier UOB cardholders across the region will enjoy access to enhanced platform privileges and UOB-exclusive curated experiences, tailored to their respective Visa Infinite tiers. This aligns with UOB’s sharpened customer segmentation approach and enhanced card value propositions, aimed at serving the unique needs of customers by offering exclusive privileges tailored to their lifestyle preferences.

Mr Pratik Bhattacharjee, Head of Group Cards and Payment Products, UOB, said, “As UOB continues to sharpen our customer-centric operating model, we are focused on serving our customers more holistically across the wealth spectrum. Our partnership with Visa marks a significant milestone in this journey, allowing us to deepen our engagement with affluent customers by curating exclusive experiences that money cannot buy. As we continue strengthening our offerings to cater to each customer’s aspirations and lifestyle, our goal is to connect with them through life moments and opportunities that truly matter.”

Mr. T.R. Ramachandran, Head of Products & Solutions for Asia Pacific, Visa, said, “The affluent segment is one of the fastest-growing consumer segments in Asia Pacific, with expectations evolving alongside it. Today’s affluent consumers are seeking experiences that are more personalised, seamless and relevant to their lifestyles. The refreshed Visa Infinite portfolio is designed to meet these changing expectations, and through our partnership with UOB, we are extending these enhanced experiences to affluent customers across Southeast Asia.”

Greater personalisation through tiered privileges

With Visa’s enhanced Infinite tier segmentation, selected cardholders will benefit from more tailored services, differentiated privileges and elevated experiences that reflect their evolving lifestyle needs. This includes access to curated regional and global lifestyle offers as well as premium destination-based travel and dining privileges worldwide as part of the base membership. In addition, selected cardholders will get exclusive access to top-tier concerts and global sporting events like FIFA World Cup™, and reserved entitlements to key lifestyle offerings under Visa Infinite Privilege. At the highest tier, Visa Infinite Private offers bespoke invitation-only experiences highly personalised for ultra-high-net-worth individuals.

Leveraging its deep understanding of affluent customers across the region, UOB will complement Visa’s refreshed benefits with exclusive privileges, curated experiences and value-added offerings tailored to the unique preferences of its cardmembers. For example, selected cardholders will be able to enjoy specially-customised luxury travel experiences and privileged access to curated series of rare timepieces.

Paired with the Bank’s unparalleled regional connectivity, advisory excellence and One Bank ecosystem, this partnership with Visa aligns with UOB’s aim to bring together banking, wealth and lifestyle holistically to all customers. This also furthers the Bank’s ambition to become the Bank of Choice for aspiring customers across ASEAN.

-END-

About UOB

UOB is a leading Asian bank with a global network in Southeast Asia, Asia Pacific, Europe and North America. Operating through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, we have a global network of more than 470 branches and offices in 19 markets. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.

For more than nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.

The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at www.visa.com.sg 

[1] Largest card issuer by total billings

[2] Includes UOB Reserve Card, UOB Zenith Card and UOB Visa Infinite cards

 

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SOURCE UOB

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