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BIIA HEADLINE NEWS
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ADDITIONAL INDUSTRY NEWS ITEMS ARE AVAILABLE ON MEMBER SERVICES ICON [MEMBER NEWS]: http://www.biia.com/memberNewsPW.php
US MORGTGAGE LOAN DELINQUENCIES RATES RISE - UP 9 PERCENT FROM PREVIOUS QUARTER ACCORDING TO TRANSUNION
CHICAGO, Sept. 8/PRNewswire/ -- TransUnion.com released today the results of its analysis of trends in the mortgage industry for the second quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data to be released on TransUnion's Web site http://www.transunion.com or http://www.biia.com/press.php
GERMANY INTENDS TO ACT ON DATA SECURITY
Context News: Following a number of embarrassing high profile data protection scandals the German data protection commissioner has called for tighter measures to protect sensitive data and to prevent potential misuse. He presented his case this week to the German Minister of Interior and apparently got his way. A new bill will be sent to parliament in November containing measures to increase penalties for misuse of consumer data and providing citizens with the right of consent. Without consent data cannot be passed on to third parties, but companies will have the right to collect and store sensitive data on clients.
The government will also issue rules governing data security audits and considers providing certificates of compliance for companies who have passed data security audits. New: Government will be investigating the feasibility to tag data so that its origin can be identified following misuse of such data.
BIIA Comment: Technology in form of laptops and small storage devises has overtaken the 30 year old data protection law. It was high time to have the law overhauled. Not a week goes by without an incident were sensitive data of individuals turn up on the Internet or being sold by shady call center operators.
The law will be meaningless if compliance is not rigorously enforced with heavy fines levied on offenders. Unfortunately government is not always the perfect role model either. The German Ministry of Finance paid a data thief Euro 6 million to get its hands on sensitive bank data with the help of the German Secret Services. That is tantamount to rewarding a thief and not holding up the virtues of protecting the rights of citizens to privacy. Government departments handling sensitive data of its citizens have had their fair share of lost or stolen lap tops.
It has yet to be seen whether the revised law will be balanced to permit the pooling of information in critical business decisions and at the same time will be able to protect sensitive data from unauthorized use.
Implications for Asia:Whatever happens in Germany on this subject will have implications within the EU and once they become standards within the EU, sooner or later the EU will try to impose these standards on other countries.
XINHUA FINANCE 1st HALF OF 2008 REVENUES INCREASE 30%
Xinhua Finance Limited announced that its revenues in the first half were US$142.4 million, a 30% increase over the US$109.5 million recorded in the first half of 2007. Management attributed the growth primarily to its operations in China. Net income swung from a profit of US$90 million in the first half of 2007 to a loss of US$48 million in the first half of this year.
Xinhua Finance CEO Jae Lie noted, "We are pleased with the initial steps we have taken following our strategic review of the business. We believe that the sale of Mergent and Kinetic and the repayment of debt will position us for improved financial flexibility and enable management to concentrate on the China market, our core competency".
Source: Xinhua Finance press release
INFOSYS TECHNOLOGIES TO TAKE OVER UK-BASED CONSULTANCY FIRM AXON FOR US$748 MILLION
On 25 August 2008, the boards of Axon and Infosys Technologies Limited (Infosys) announced that agreement had been reached on the terms of a recommended cash offer to be made by Infosys for the entire issued and to be issued ordinary share capital of Axon (the "Offer").
The Offer, which is expected to be implemented by way of a scheme of arrangement, values Axon's existing issued and to be issued (fully diluted) share capital at approximately US$800 million on a cum-dividend basis.
Source: http://www.axonglobal.com
ALIBABA POSTS REVENUE INCREASE OF 48% FOR FIRST HALF OF 2008
Alibaba.com recorded revenues of US$206.9 million in the first half of 2008. That is a 48% increase year-on-year. Net income jumped 136% to US$102 million. Revenues from the China marketplace, Alibaba.com's domestic sourcing website, increased by 84.6% in the first half. The US$70.4 million in revenues from the China marketplace represent 34% of total revenues. The International marketplace still generates more than 60% of the overall revenues at Alibaba.com.
As of 30th June, Alibaba.com's two marketplaces had a total of 32.5 million registered users, a 32.5% year-on-year increase. Of that number, nearly 27 million are registered in the domestic China marketplace.
Source: Alibaba.com press release
BUSINESS ONLINE THAILAND Q2 REVENUES INCREASE 27%
Business Online, BIIA member and a Bangkok-based business information provider, announced its financial results for the three months ended 30th June. Revenues for the quarter were US$1.6 million, an increase of 27% over the same period last year. Net income was US$511,000, a rise of more than 40% compared with the same quarter in 2007.
For the six months ended 30th June, revenues were US$3.4 million. That is a 20% increase over the first half of 2007. Net income in the first half was US$1.03 million, representing a jump of almost 43% over the same period of last year. BOL's share price hit a new 52-week high (Baht 18.60) following the announcement of the results.
Source: BOL announcement
GLOBAL SOURCES Q2 NET INCOME DOUBLES
Global Sources announced its second quarter results on Thursday. For the quarter ended 30th June, revenue was US$63.7 million, an increase of 21% over the same period last year. Net income doubled rising from US$4.2 million in the second quarter of 2007 to US$8.4 million in the second quarter of 2008.
Global Sources' chairman and CEO, Merle A. Hinrichs, noted, "We had a very successful second quarter. Our 21% revenue growth was driven by accelerating online revenue growth of 30% overall, and 40% from mainland China."
For the six months ended 30th June, revenue was US$104.3 million, rising 19% over the first half of 2007. GAAP net income was US$16.6 million, a 55% increase compared with the first half of 2007.
The company announced guidance for the second half of 2008. Revenue for the third quarter is expected to be between US$38.5 and US$39 million and earnings are expected to be US$0.02 to US$0.03 per share. According to Reuters, on average analysts were expecting 14 cents per share on revenues of US$40.8 million. Management cited ongoing investment in its workforce, online platform and the launch of new trade shows as reasons for the decline in earnings. The stock dropped over 22% on Thursday following the release of the results.
Sources: Global Sources press release & Reuters
GERMAN and UNITED KINGDOM LACK OF COMPLIANCE WITH THE DATA PROTECTION LAW IS A POOR ROLE MODEL FOR ASIA
CONTEXT NEWS:
Serious breaches of the data protection act appear to run rampant in the United Kingdom and Germany:
Two weeks ago the UK Home Office reported the loss of confidential data on its entire prison population. A week later it was reported that confidential bank data turned up on a computer sold on eBay. A second computer sold on eBay was found to contain confidential council tax data.
The UK Information Commissioner voiced deep concern about these high profile breaches of the Data Protection Act and has launched an inquest. While he is threatening to fine the private sector companies involved, he has yet to sanction or fine the UK Home Office. UK parliamentarians were told recently that more than 3,200 laptops and mobile phones containing sensitive data have been lost or stolen from Government departments. This information gives rise to serious concerns about the safety of data in government hands.
The German data protection commissioner met with ministers to complain about serious infringements of data protection laws and demanded tougher laws. Surprisingly ministers promised to act swiftly and to set in motion stiffer regulations (BIIA will cover the results of the meeting shortly).
The German FBI has registered a four-fold increase of criminal cases since 1990 involving breaches of data protection laws. As in the UK, German administrative bodies have reported the theft or loss of 189 computers, 326 laptops and memory sticks involving sensitive data on German citizens.
BIIA Comment: The European Union Commissioner Charlie McCeevy recently lambasted the ratings industry stating the "The IOSCO Code of Conduct, to which the rating agencies signed up to, has been shown to be a toothless wonder". The Asian information industry wonders whether the EU data protection act which the EU wants Asia to subscribe to is also a "toothless wonder" given the series of endless data security breaches.
BIIA's JULY / AUGUST 2008 NEWSLETTER IS NOW POSTED ON: http://www.biia.com/memberNewsPW.php
THE (GROWTH) PARTY IS OVER: The latest issue carries the second part of a series of articles on why the (growth) party for credit information and rating services is over - at least for the time being.
The July / August issue also contains summaries of the latest second quarter financial results of the largest credit information players and rating agencies.
INFORMATION CONTENT SEGMENT MARKET RESEARCH, REPORTS & SERVICES GREW 9.6% IN 2007; 2008 SHOWING GOOD GROWTH SAYS OUTSELL INC.
The Market Research and IT & Telecom Research, Reports & Services market continued to outperform the information industry as a whole in 2007, with growth of 9.6% against total industry growth of 6.6%, achieving a total market size of $33.5 billion. This market includes two segments: Market Research, Reports & Services (MRRS), which accounts for 92% of revenue, and IT & Telecom Research, Reports & Services (ITTRRS), which makes up 8%.
Source: http://www.outsellinc.com
INFORMATION CONTENT SEGMENT IT AND TELECOM RESEARCH, REPORTS & SERVICES GREW 9.1% IN 2007; 2008 SHOWING STRONG GROWTH ACCORDING TO OUTSELL INC.
IT and Telecom Research, Reports & Services (ITTRRS), a $2.8 billion segment of the information market, continued to outperform the information industry as a whole in 2007, with growth of 9.6% against total industry growth of 6.6%, achieving a total market size of $33.5 bn. This market includes two segments: Market Research, Reports & Services (MRRS), which accounts for 92% of revenue, and IT & Telecom Research, Reports & Services (ITTRRS), which makes up 8%.
Source: http://www.outsellinc.com
TRANSUNION LAUNCHES 'SMARTMOVE' RISK INSIGHT SERVICE
TransUnion's SmartMove Provides Independent Rental Owners With New Level of Risk Insight. The new MySmartMove.com website to positively redefine renter-landlord interaction http://www.mysmartmove.com/.
SmartMove is an affordable online solution to help independent rental owners and multi-family operators better evaluate prospective applicants' rental applications. The solution comes at a time when new renters may be re-entering the rental market due to a deteriorating housing market and current homeowners are converting their houses into rental properties in response to a slumping housing market.
Source: http://www.transunion.com
WHY BIIA?
Business information is an essential ingredient in business decisions. BIIA members serve businesses with accurate, reliable and timely information in a wide range of decision processes starting with strategic analysis, profiling and prospecting of potential customers, demand forecasting, sales assignments, credit information, decision systems, monitoring, and receivable management services. B2B business media provides important industry insights about specific business activities and markets.
BIIA informs a wide constituency of interested parties and its members on global, regional and local developments
BIIA provides industry specific news and commentary from a local perspective (for instance how Western practices are implemented by Asians in Asian markets)
BIIA provides feedback to member companies so that they can assess whether particular developments are seen by the entire industry and not just represent a single opinion.
BIIA provides information on its website http://www.biia.com for users, governments, regulators and academia. BIIA does not replicate the services of its members. It acts as a channel to professional associations and relevant information sources.
BIIA promotes and protects the information industry. It advocates transparency and disclosure in the interest of sound lending, trade credit granting and ultimately economic development.
BIIA provides a platform for networking with industry experts and professionals:
Risk management and digital information conferences are relatively sparse in Asia; hence Asian professionals appreciate the opportunity to network either in conferences such as the recent BIIA Forum 2008 or through BIIA participation in local conferences. For events and BIIA news contact the events page of http://www.biia.com
The Business Information Industry Association Asia Pacific - Middle East (BIIA) is a trade association for the information content industry.
Information content can be defined broadly as suppliers of paid-for (by users or advertisers) proprietary digital information to businesses or about businesses. The principal objective of the BIIA is to provide a platform for members to network and to work on common issues facing the industry in the region.
The BIIA also welcomes members from the information content industry from other parts of the world who have a keen interest in the Asia Pacific and Middle East region. BIIA also accepts associate membership from institutions and individuals with an interest in the information content industry.
BIIA was formed on June 23rd, 2005 in Hong Kong as a result of an initiative by several leading business information content services companies and three information content consultancy firms. Today BIIA has over 30 members.
To learn more about BIIA click on the menue item: Industry Library: BIIA in Action or click on: http://www.biia.com/library.php#197
BIIA's Fee Structure is posted on: http://www.biia.com/library.php#199 Item: 'BIIA Membership Information'.
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Events
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ABM - FIPP B-to-B WORLD CONGRESS
SEPT. 7 - 9, 2008, NEW YORK, NY; ROOSEVELT HOTEL
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SIIA GLOBAL INFORMATION INDUSTRY SUMMIT
9 - 11 September 2008; ROYAL GARDEN HOTEL, LONDON, UK
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FISD GENERAL MEETING
SEPTEMBER 10, 2008; LONDON AT REUTERS CANARY WHARF
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OUTSELL SIGNATURE EVENT 2008
SEPTEMBER 21-23, 2008; RITZ CARLTON HALF MOON BAY, CAL
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FEBIS GENERAL ASSEMBLY
SEPTEMBER 24 - 26, 2008; PALERMO, SICILY, ITALY
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