Descartes Acquires Supply Vision

Strengthens Shipment Management Capabilities on the Global Logistics Network

WATERLOO, Ontario, Jan. 06, 2023 (GLOBE NEWSWIRE) — Descartes Systems Group (TSX:DSG) (Nasdaq:DSGX), the global leader in uniting logistics-intensive businesses in commerce, announced that it has acquired Supply Vision, a provider of shipment management solutions for North American Logistics Services Providers (LSPs).

Supply Vision has a long history of helping LSPs digitize their operations and manage the lifecycle of shipments. Headquartered in the US, the company provides modular applications that help LSPs coordinate shipments, from quoting, routing and booking through to final delivery. The Supply Vision platform also integrates with real-time visibility solutions, such as Descartes MacroPoint™, to provide LSPs and their end customers with enhanced information about shipment status and location.

“The momentum for digitization in the LSP community continues to accelerate,” said Scott Sangster, General Manager Logistics Services Providers at Descartes. “In order to efficiently meet customer demand while operating profitably, LSPs need to invest in solutions that automate processes across multiple parties and leverage real-time information that improves decision making. We see an opportunity to combine the Supply Vision capabilities with the Global Logistics Network and make even more solutions available for the wider LSP community.”

“The Supply Vision acquisition complements our recent investments in QuestaWeb, Kontainers and Portrix, as we look to broaden our footprint for LSPs,” said Edward J Ryan, Descartes’ CEO. “We’re looking forward to working with the Supply Vision customers, partners and team of domain experts to continue to help LSPs digitize their operations and manage the lifecycle of shipments in a secure, efficient and sustainable manner.”

Supply Vision is headquartered in Phoenix, Arizona. Descartes acquired Supply Vision for up-front consideration of approximately $USD 12 million satisfied with cash on hand, plus potential performance-based consideration. The maximum amount payable under the all-cash performance-based earn-out is $USD 3 million, based on Supply Vision achieving revenue-based targets in each of the first two years post-acquisition. Any earn-out is expected to be paid in fiscal 2025 and fiscal 2026.

About Descartes Systems Group

Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com.

Global Investor Contact
Laurie McCauley
+1-519-746-6114 x202358
investor@descartes.com

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ acquisition of Supply Vision and its solution offerings; the potential to provide customers with shipment lifecycle management solutions; the potential to combine Supply Vision’s solution offerings with other products and services of Descartes’; other potential benefits derived from the acquisition and Supply Vision’s solution offerings; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the expected future performance of the Supply Vision business based on its historical and projected performance as well as the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

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FAO Food Price Index continued to drop in December, however, it rose substantially on a yearly basis

» The *FAO Food Price Index* (FFPI) averaged 132.4 points in December 2022, down 2.6 points (1.9 percent) from November, marking the ninth consecutive monthly decline and standing 1.3 points (1.0 percent) below its value a year ago. The decline in the index in December was driven by a steep drop in the international prices of vegetable oils, together with some declines in cereal and meat prices, but partially counterbalanced by moderate increases in those of sugar and dairy. For 2022 as a whole, however, the FFPI averaged 143.7 points, up from 2021 by as much as 18 points, or 14.3 percent.

 

» The FAO Cereal Price Index averaged 147.3 points in December, down 2.9 points (1.9 percent) from November, but still 6.8 points (4.8 percent) above its December 2021 value. Wheat export prices fell in December, as ongoing harvests in the southern hemisphere boosted supplies and competition among exporters remained strong. World maize prices also eased month-on-month, mostly driven by strong competition from Brazil, although concerns over dryness in Argentina provided some support. Influenced by spillover from maize and wheat markets, world prices of both sorghum and barley also declined. By contrast, purchases by Asian buyers and currency appreciations against the United States dollar in some exporting countries kept international rice prices on the rise in December. For 2022 as a whole, the FAO Cereal Price Index reached a new record high of 154.7 points, up 23.5 points (17.9 percent) from 2021, surpassing by 12.5 points (8.8 percent) the previous annual average record registered in 2011. World prices of maize and wheat reached new record highs in 2022, averaging, respectively, 24.8 and 15.6 percent higher than their 2021 averages, while rice export prices were on average 2.9 percent above their 2021 levels. The increase in the FAO Cereal Price Index in 2022 was due to a host of factors, including significant market disruptions, increased uncertainties, higher energy and input costs, adverse weather in a few key suppliers, and continued strond global food demand.

 

» The FAO Vegetable Oil Price Index averaged 144.4 points in December, down 10.3 points (6.7 percent) from November and hitting its lowest level since February 2021. The decrease in the index in December was driven by lower international quotations across palm, soy, rapeseed and sunflowerseed oils. World palm oil prices dropped by nearly 5 percent after a short-lived recovery in the previous month, chiefly underpinned by a sluggish global import demand, despite lower outputs in major palm oil producing countries due to excessive rainfalls. Meanwhile, world soyoil prices fell markedly, largely due to positive prospects of seasonally rising production in South America. As for rapeseed and sunflowerseed oils, international prices dropped on account, respectively, of ample global supplies and subdued import demand, particularly from the European Union. Lower crude mineral oil prices also exerted downward pressure on world vegetable oil quotations. For 2022 as a whole, the FAO Vegetable Oil Price Index averaged 187.8 points, up 22.9 points (13.9 percent) from 2021 and marking a new record annual high.

 

» The FAO Dairy Price Index averaged 139.1 points in December, up 1.5 points (1.1 percent) from November, registering an increase after five months of consecutive declines and surpassing by 10.1 points (7.9 percent) its value a year ago. In December, international cheese prices rose, mainly reflecting a robust global import demand and somewhat tighter export availabilities amid high internal retail and services sector sales, especially in Western Europe. By contrast, international butter prices fell for the sixth consecutive month, underpinned by the continued sluggish global import demand and the availability of adequate domestic inventories to cover near-term needs. Meanwhile, international milk powder prices decreased slightly, as lower prices in Western Europe, driven mainly by sluggish demand for spot supplies, outweighed increases in quotations for supplies from Oceania, primarily reflecting active buying from Southeast Asia and currency movements. In 2022 as a whole, the FAO Dairy Price Index averaged 142.5 points, up 23.3 points (19.6 percent) from 2021 and registering the highest annual average on record since 1990.

 

» The FAO Meat Price Index averaged 113.8 points in December, down 1.4 points (1.2 percent) from November, marking the sixth consecutive monthly decline, but remained 2.8 points (2.5 percent) above its year-earlier level. The decrease in the index in December was driven by lower world prices of bovine and poultry meats, partially counterbalanced by higher pig and ovine meat prices. International prices of bovine meat fell, pressured by a higher supply of slaughter cattle in several large producing countries and lacklustre global demand for medium-term supplies. Meanwhile, poultry meat prices declined, as export availabilities were more than adequate to meet import demand for spot supplies, despite production setbacks due to intensified avian influenza outbreaks. By contrast, world pig meat prices increased, underpinned by solid, pre-Christmas internal demand, especially in Europe, whereas ovine meat prices rose due to currency movements. In 2022 as a whole, the FAO Meat Price Index averaged 118.9 points, up 11.2 points (10.4 percent) from 2021, marking the highest annual average registered since 1990.

 

» The FAO Sugar Price Index averaged 117.2 points in December, up 2.8 points (2.4 percent) from November, registering the second consecutive monthly increase and reaching its highest level in the past six months. The December increase in international sugar price quotations was mostly related to concerns over the impact of adverse weather conditions on crop yields in India, the world’s second largest sugar producer, and sugarcane crushing delays in Thailand and Australia. For 2022 as a whole, the FAO Sugar Price Index averaged 114.5 points, up 5.1 points (4.7 percent) from 2021 and reaching its highest annual average since 2012.

 

Source: Food and Agriculture Organization of the United Nations

Thailand Adopted New Rules For Foreign Visitors

BANGKOK, Thailand adopted a new requirement for foreign visitors, to show proof of at least two doses of the COVID-19 vaccination, government officials announced, yesterday.

 

Foreign arrivals are also required to have travel insurance that covers potential COVID-19-related expenses, in case their next destination requires a negative RT-PCR result, Deputy Prime Minister and Public Health minister, Anutin Charnvirakul, said.

 

Despite no requirements for COVID-19 testing prior to entering the country, those suffering from respiratory illnesses should postpone their visits until they have fully recovered, Anutin told the press.

 

Although Thailand’s COVID-19 situation was improving, intensive care patients and deaths were still being observed, Anutin said in a statement, issued on Wednesday.

 

From Dec 25 to Dec 31, the country had detected 2,111 COVID-19 cases, with 75 deaths.

 

Source: Nam News Network

Demining officer killed, another injured in blast near Thai-Cambodian border

A member of the Thailand Mine Action Centre (TMAC) was killed and another injured in a landmine explosion, as they led a team of forest rangers on a patrol in Phnom Dong Rek Wildlife Sanctuary near the Thai-Cambodian border yesterday (Thursday).

 

According to Chaiwat Limlikhitaksorn, director of the 9th Conservation Area Management Office in the north-eastern border province of Ubon Ratchathani, one of the two TMAC members, Sgt Akkraphon Phuvadonworanat, accidentally stepped on a landmine, one of many planted along the porous border during the armed conflict between the two countries.

 

He said that the sergeant suffered serious injuries and was pronounced dead on arrival at Khun Han District Hospital in Si Sa Ket province.

 

The other demining officer, commander of the canine demining group, sustained minor injuries and was treated at a hospital inside an army barracks in Ubon Ratchathani.

 

Chaiwat said that the forest rangers and the dog escaped unhurt, but the dog was later sent for a check-up.

 

Source: Thai Public Broadcasting Service

Numbers, not words, will shape post-election landscape

This week’s virtual pledge of loyalty to allies by the Pheu Thai Party cannot entirely soothe them, because they know all too well that in politics, even cutthroat one like Thailand’s, promises to friends and threats to foes can fall apart overnight when push comes to shove.

 

There’s another reason for allies’ anxiety to linger. Pheu Thai leader Cholnan Srikaew suggested the possibility of a single-party government if the anticipated “landslide” was massive enough to allow his party to do it alone. However, with the Senate lurking, the single-party administration scenario is a long shot, as it would require the mother of all landslides to materialise.

 

Pheu Thai’s press statement denying rumours that it would join hands with this or that party after the general election, particularly one or two camps in the current government was meant to pacify voters more than existing allies. The party’s supporters can condone, for example, the absence of Move Forward from a Pheu Thai government, but they can’t bear the thought of voting for Pheu Thai so that it could form a government with Palang Pracharath and/or Bhumjaithai.

 

That Pheu Thai is trying to calm its voters down does not mean it will absolutely never hurt them later, though. Political survival can outweigh all promises, and the current narrative of “we will never” do this or that can change into something along the lines of “if you want us to” be the government, you must accept this and that.

 

In Pheu Thai’s best-case scenario, it wins a landslide huge enough to dominate the House of Representatives and keep the Senate from flexing its muscles. If that really happens, a single-party government is possible.

 

The next best thing requires Pheu Thai to seek one or two “harmless” allies, having achieved a moderate landslide. In this case, Move Forward can be potentially more troublesome than, say, Seri Ruam Thai. Pheu Thai’s biggest partner at the moment could turn into a political time bomb over issues like the minimum wage, Thaksin Shinawatra or Article 112.

 

Another scenario strengthens Move Forward’s hand. Not big enough, Pheu Thai needs this ally, instead of the other way round. Everyone will worry about the minimum wage, Thaksin Shinawatra and Article 112 later.

 

Another scenario yet is messy. Pheu Thai still emerges the biggest party but it’s 2019 all over again. Worse still, Move Forward becomes smaller. The party would need all the help it could get. And if those from the present government could aid its return to power, then so be it.

 

Numbers will affect everyone, not just Pheu Thai. An overwhelming House of Representatives majority could make the Senate respectful and thus keep the nonelected chamber at bay. Tight contests would tempt senators to assert themselves. An undisputed landslide would keep both friends and foes of Pheu Thai silent for a while, or as long as there is no contentious issue of the kind that sent the Whistle Mobs to the streets during the last days of the Yingluck government. A close election will embolden both allies, frenemies and enemies.

 

So, recent messages by key political leaders seemed ambiguous and contained intended loopholes through which they could use as a way out. Move Forward leader Pita Limjaroenrat seemed to welcome the Bt600-a-day minimum wage for unskilled workers but he also said the issue was not for anyone to seek political gains. Bhumjaithai leader Anutin Charnvirakul in one breath downplayed and overplayed the relevance of the Senate. Pheu Thai’s key men have firmly denied an unthinkable pre-election pact, citing respect for democratic principles, but have yet to bang the table and say the unthinkable would never happen.

 

The only certainty is that Pheu Thai and Ruam Thai Sang Chart, which is set to welcome Prayuth Chan-o-cha, can never mix. It would be too outrageous even by the Thai standard. Other than that, including the uncomfortable sight of Ruang Thai Sang Chart and Move Forward sitting side by side in the opposition bloc, anything is possible.

 

Source: Thai Public Broadcasting Service

Thailand’s Consumer Inflation Growth Rose In Dec

BANGKOK, Thailand’s consumer inflation growth rose in Dec, driven by higher energy and food prices, data showed, yesterday.

 

The country’s consumer price index (CPI), a key indicator of inflation, rose 5.89 percent, year on year in Dec, accelerating from a seven-month low of 5.55 percent in the previous month, according to the Ministry of Commerce.

 

The core CPI, which excludes raw food and energy prices, rose 3.23 percent year on year, edging up from a 3.22 percent increase a month earlier, as production costs were still high.

 

For the annual average, the headline CPI increased by 6.08 percent, while the core CPI rose by 2.51 percent.

 

Poonpong Naiyanapakorn, director-general of the ministry’s Trade Policy and Strategy Office, expected headline inflation to fall to between two and three percent this year, aided by a high price base and a global economic slowdown.

 

Inflation in 2023 tended to drop significantly from last year, as most prices remained stable and began to fall after a gradual climb, Poonpong told a news conference.

 

Source: Nam News Network

The 33-million-baht signboard scandal derailing Thailand’s new grand central station

Thailand’s new national rail terminus has run into trouble even before its official unveiling.

 

Bang Sue Grand Station is setting social media alight with news that signboards for its new royally granted name will cost a whopping 33 million baht to install.

 

Enraged Thai netizens have posted pictures showing how such a large budget could be better spent elsewhere, including to fund the construction of classrooms for a small school.

 

Amid the growing outcry, Transport Minister Saksayam Chidchob ordered a probe into the State Railway of Thailand (SRT)’s “specific” method of bidding whereby it handed the signboard contract to Uniq Engineering and Construction Plc (UNIQ). The National Anti-Corruption Commission (NACC) has also begun gathering evidence of alleged irregularities in the procurement deal.

 

“The results of the ministry’s investigation should come within seven days. If they show wrongdoing, the contract will be canceled and culprits punished,” Saksayam said.

 

Is it too expensive?

 

Prapas Chongsanguan, a Pheu Thai Party member and former SRT governor, insists the new signboard is too expensive, arguing that it does not use innovative technology while old materials could have been recycled in the new sign.

 

“I urge relevant parties to look into the [true] cost of the current signboard installation,” he said, without mentioning a figure.

 

Prominent academic Tongthong Chandransu, meanwhile, said that had relevant officials known the station was waiting for a royally granted name, they could have installed a temporary signboard to avoid wasting state budget.

What is the SRT’s defense?

 

The SRT has defended its decision to erect new signboards, saying they are needed after His Majesty the King granted an auspicious name to the station in early September in response to a request from the Cabinet. Its new name is the Krung Thep Aphiwat Central Terminal.

 

According to the state railway operator, the procurement was carried out in line with regulations laid down by the Comptroller General, which oversees government spending. The special procurement method was chosen in this case because the task was urgent.

 

The SRT plans to host the official launch event for the national rail hub early this year.

 

It also argued that the contract involves more than just installing the new signboard, as UNIQ must also tackle complicated tasks such as removing the separate letters of the current signboards and putting up new letters in both Thai and English, and changing the glass wall that will be affected by the installation process. The SRT also pointed out that each letter of the new signboard is large and difficult to position high up at the front of the station.

 

Each English character on the curtain-wall installation will be 2.1 meters high, 2.2 meters wide, and 40 centimeters thick, while each Thai character will be 3 meters high, 2.6 meters wide, and 40 centimeters thick. These giant characters will be hung alongside the SRT logo at a spot about 28 meters above the ground, making it a complicated and difficult installation process, the SRT said.

 

The budget, moreover, covers a one-year warranty, value-added tax, and a lighting system to ensure the name of the terminal is clearly visible from afar.

 

Who is UNIQ?

 

Ranking as one of Thailand’s four largest constructors, UNIQ is a listed company offering turnkey design services. Along with its large property projects, it has also taken on contracts for public utilities including transport systems. UNIQ is involved in constructing the Red, Green, Blue, Purple, and Orange lines of Bangkok’s urban train system.

 

It reported its contract for the installation of Bang Sue Grand Station’s new nameplate to the Stock Exchange of Thailand on December 29. The declaration quickly whipped up a storm of controversy that culminated in probes by the ministry and the anti-graft agency.

 

UNIQ signed 23 contracts with government or state enterprises between 2021 and 2022. The 23 projects have a combined value of more than 134 billion baht.

 

Source: Thai Public Broadcasting Service

The first Episode of NBT “Mee Kam Tob” Features MOL’s Live Interview on “Solving Labour Shortages in Tourism and Service Businesses”

On January 4, 2023, at 15.05 hours, the Permanent Secretary of Labour, Mr. Boonchob Suttamanaswong, gave a live interview on NBT’s “Mee Kam Tob” program on “solving labour shortages in tourism and service businesses”, on the NBT channel. The occasion took place at the National Broadcasting Services of Thailand, Din Daeng District, Bangkok.

 

Mr. Boonchob spoke about the Ministry of Labour’s role in solving labour problems. Every year there is the JOB EXPO THAILAND event for establishments with vacant positions to meet with the unemployed to match and get a job. In addition is the “thaimeengantum” application, which gathers jobs from the public and private sectors and recruitment agencies for job seekers. There is also an MOU with the Ministry of Education to prepare jobs for future graduates.

 

In the “NBT Helps Sell Great Products” segment, there was the sale of local products from Lopburi Province, such as salted eggs and mudmee. NBT’s “Mee Kam Tob” program is on every Wednesday, discussing labour problems. In the next episode, executives under the Ministry of Labour will participate and answer questions from the people.

 

Source: Ministry of Labour

Zoom Appoints Cindy Hoots to Board of Directors

SAN JOSE, Calif., Jan. 05, 2023 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM) announced that it has appointed Cindy Hoots, Chief Digital Officer and CIO of AstraZeneca, as an independent director on Zoom’s Board of Directors effective immediately.

“Zoom has changed the way companies around the world do business and is ushering in entirely new ways to transact business internationally,” said Hoots. “Global leaders have the responsibility to ensure our ecosystem of employees, partners, customers, and our community can connect and collaborate seamlessly in a sustainably responsible way. I am thrilled to join Zoom’s Board and CEO Eric Yuan, an inspirational leader with a strong vision. I believe this company has an important role in making a meaningful impact on people’s lives.”

“On behalf of Zoom’s Board of Directors, I am excited to welcome Cindy to the team,” said Zoom Founder and CEO Eric S. Yuan. “Cindy’s experience leading large global companies in highly regulated and complex industries will bring tremendous value to our company. As Zoom continues to grow and innovate within the healthcare sector, we look forward to Cindy’s perspectives and contributions.”

About Cindy Hoots
Ms. Hoots has served as the Chief Digital Officer and Chief Information Officer at AstraZeneca PLC, a pharmaceutical company, since January 2020. From January 2018 to December 2019, she served as Global Vice President of Technology of Unilever PLC, a multinational consumer goods company. Prior to joining Unilever, Ms. Hoots served as Vice President of Next Generation Products, Commercial, and Digital Transformation at British American Tobacco plc from 2016 to 2018. She also spent 16 years at Mars, Incorporated. Ms. Hoots received a B.S. in Computer Information Systems from DeVry Institute of Technology.

About Zoom
Zoom is for you. Zoom is a space where you can connect to others, share ideas, make plans, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for individuals, small businesses, and large enterprises alike. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California. Visit zoom.com and follow @zoom.

Zoom PR
Colleen Rodriguez
Head of Global PR
press@zoom.us

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