Economy
Yokogawa Acquires Soteica Visual Mesa
By Modupe Gbadeyanka
Yokogawa Electric Corporation has announced the acquisition of Soteica Visual Mesa (SVM), a leading energy management technology provider, further delivering on a number of key objectives of Yokogawa’s Transformation 2017 mid-term business plan, namely, expansion of Yokogawa’s advanced solution business, focusing on customers and creating new value.
This announcement marks completion of the SVM acquisition as a wholly-owned subsidiary and initiation of the integration of SVM and the cloud-based Data-as-a-Service (DaaS) provider Industrial Knowledge (IK) into KBC Advanced Technologies (KBC), which was acquired by Yokogawa in April 2016.
The IK business unit was established to enhance the cloud-based advanced solution business based on the technology of Industrial Evolution (IE), which was acquired by Yokogawa in December 2015. A pioneer in the use of cloud-based solutions in the process industries, IE developed a market-leading real-time DaaS solution that is deployed at many of the world’s major energy and chemical companies.
Yokogawa’s acquisition of SVM follows an earlier minority equity investment in SVM made in December 2012. SVM has a solid track record in the energy management solutions (EMS) field, and provides production accounting and scheduling solutions to the refining industry.
After acquiring KBC, Yokogawa formed a post-merger integration team that has been charged with the task of identifying various measures and setups that will create synergy and derive maximum benefit from the integration of the companies’ operations, and thereby enhance our ability to offer new value to our customers.
As a result of their deliberations, Yokogawa has decided to integrate the operations of Soteica, a leading company in the EMS field, and Industrial Knowledge, a business unit with expertise in advanced cloud solutions, with those of KBC.
By leveraging KBC’s premier energy consulting and Visual Mesa, SVM’s best-in-class real-time energy optimization technology, it is anticipated that the combined entity will be able to expand its position in the rapidly growing EMS market in the process industries.
In the immediate term, SVM’s advanced Visual Mesa utility optimization software combined with KBC’s premium energy consultancy will provide comprehensive and best-in-class energy management solutions, underpinned by leading technologies and human performance improvement. Over the longer term, this acquisition supports KBC’s vision of seamlessly integrating utility system and supply chain optimization into KBC’s industry-leading process simulation platform for hydrocarbon processing facilities, Petro-SIMTM.
KBC, SVM, and IK will be led by KBC Chief Executive Officer, Andy Howell, and will be integrated under the KBC brand.
This will significantly enhance KBC’s solutions portfolio and the energy management solutions business, enhance KBC’s ability to develop new cloud-based services, and accelerate KBC’s efforts to create and sustain new value for customers.
This acquisition and integration of these businesses into KBC is fully aligned with KBC’s mission to make and keep its clients world-class in terms of operational excellence and profitability through the actions of its people and the application of its technology.
These actions also materially accelerate delivery of KBC’s vision of becoming the No.1 trusted advisor in the energy and chemical industries, delivering best-in-class operating performance to its clients.
Regarding the acquisition and integration of these businesses, Satoru Kurosu, executive vice president and head of Yokogawa’s Solutions Service Business Headquarters, commented: “Key strategic objectives of Yokogawa’s Transformation 2017 plan are to expand the solution service business, focus on customers, and co-create new value with customers through innovative technologies and services.
“By integrating SVM and IK with KBC, we will bring together deep and rich business, process, and operational domain knowledge across the energy and chemicals sectors, and will connect this with the cloud-based, real-time representation of plant, business, and supply chain operations to identify and implement solutions that will sustain and continuously improve performance. The benefit to our customers is unprecedented.”
Oscar Santollani, founder of SVM, commented: “We are delighted to have been acquired by Yokogawa and in doing so, unite our Visual Mesa real-time energy optimization and production accounting and scheduling technologies with KBC’s industry-leading energy and supply chain consulting practices.
Furthermore, the progressive DaaS capabilities of IK enhance our offerings and enable us to be more innovative, disruptive, and agile by leveraging the cloud in delivery of solutions and sustainability services. This is the future.”
Simon Wright, founder of Industrial Evolution, commented: “The unique capabilities of these combined organizations and their respective offerings mean that for the first time customers can be confident that the investments they make today will pay off now and for the long term. We have provided real-time data as a cloud service for over 15 years.
“The cloud-enablement of SVM’s solutions and KBC’s energy and supply chain consulting services is a very attractive proposition for any asset owner or operator.”
Andy Howell, chief executive officer of KBC, commented: “At KBC, we holistically harness people, processes, and technology to deliver a sustainable competitive advantage to our clients. We are all about helping and empowering our clients to meet their business goals. Imagine having expertise that was previously only available on an occasional basis, continuously unleashed in an unprecedented yet very tangible way by harnessing our technologies and those of Yokogawa with a state-of-the-art yet proven cloud service model. Not only that, but new possibilities such as continuous model updating, mobile delivery, and seamless hand-off between rigorous simulation and big data analytics are also truly exciting.”
By Modupe Gbadeyanka
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
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