Daily Archives: June 6, 2019

Moab Partners Supports Fir Tree Proposals For JR Kyushu

NEW YORK and TOKYO, June 06, 2019 (GLOBE NEWSWIRE) — Moab Capital Partners, LLC (“Moab”), a significant shareholder of Kyushu Railway Company (TYO: 9142) (“JR Kyushu” or the “Company”), with ownership of approximately 1% of JR Kyushu’s outstanding shares, announces its support of the shareholder proposals at the upcoming AGM.

Moab intends to vote FOR the shareholder proposals (“Agenda Items 7-12”). Moab strongly supports the proposed share buyback and the addition of three truly independent and exceptionally qualified independent directors.

The Company released its medium-term plan on March 19, 2019, which provided limited detail on 210 billion Yen of proposed capital investments over the next three years. Return on invested capital should be disclosed for investments representing 41% of the Company’s total market capitalization. Further, we believe the contemplated investments should be more evenly balanced with a return of the Company’s excess capital to shareholders. With numerous communications from Moab and other shareholders to this effect, we are disillusioned that our feedback was largely ignored by JR Kyushu’s management and board. It is evident that we are not alone in our disappointment—since the medium-term plan announcement on March 19, JR Kyushu’s total return of negative 15.8% compares unfavorably vs. the JR peers’ average decline of only 3.3%.

Moab is a long-term shareholder of JR Kyushu—our position was established in January 2017. Our substantial investment in JR Kyushu reflects 1) the company’s extraordinary portfolio of assets, particularly its spectacular real estate portfolio, 2) the strong economic and fundamental tailwinds that the company’s businesses are positioned to benefit from, 3) the company’s exceptionally compelling valuation, and 4) the company’s pristine balance sheet, which provides the flexibility to both execute on medium-term plan growth investments while simultaneously capitalizing on the aforementioned discounted valuation and improving the company’s cost of capital and return on equity.

We believe a host of issues are preventing JR Kyushu from reaching its full potential: 1) unbalanced capital allocation priorities, 2) significant uncertainty surrounding underwriting criteria for acquisitions and growth capital expenditures, 3) a capital structure that is inappropriate for an asset heavy business that generates significant and stable cash flows, 4) corporate governance issues ranging from lack of management economic alignment to a shortage of truly independent and exceptionally qualified board members, and 5) inadequate and confusing financial disclosures.

Moab has maintained an active dialogue with the company since establishing our investment, but the company has failed to address our serious concerns with any urgency, which is why we are now going public with our support for change at JR Kyushu and FOR the shareholder proposals (“Agenda Items 7-12”).

About Moab Capital Partners, LLC

Moab is an SEC-registered independent investment advisor founded in 2006 and is located in New York, NY.

Investor contact:
Michael Rothenberg
Managing Member
Moab Capital Partners, LLC
212-981-2647
mr@moabpartners.com

Skybox Security Wins Best Vulnerability Management at SC Europe Awards

Skybox takes home the SC Europe Award for Best Vulnerability Management Solution at London ceremony

SAN JOSE, Calif., June 06, 2019 (GLOBE NEWSWIRE) — Skybox® Security, a global leader in cyber risk management, won the SC Awards Europe 2019 for Best Vulnerability Management. The announcement was made Tuesday, June 5, 2019, at the SC Awards Gala in London, presented by SC Media.

In addition, Skybox took home the SC Award for Best Risk and Security Policy Management in the 2019 US ceremony, as well as the 2018 US and Europe ceremonies.

The recognition of Skybox as a best-in-class vulnerability management solution is of particular importance as it takes a unique approach to solve challenges typical in scan-and-patch programs. In order to fix the right vulnerabilities — those most likely to be used in an attack — Skybox:

  • Collects information from a customer’s scanners, asset repositories, networking and security devices to provide a context-rich view of the environment in which vulnerabilities exist
  • Creates a complete, current and centralized repository of vulnerabilities in the customer environment, including those in on-prem, multi-cloud and OT networks
  • Matches vulnerabilities with available and active exploits in the wild
  • Determines a vulnerability’s exposure by modeling the environment and analyzing potential attack paths to vulnerable assets
  • Identifies best response options including patches and IPS signatures, as well as configurations or access changes

Skybox® Vulnerability Control not only provides all of these capabilities in a single solution, but also intelligently automates these processes to move through the workflow from discovery to targeted action the same day.

“Being different can be a blessing and curse,” said Skybox VP Products Amrit Williams. “On one hand, our unique way of handling vulnerability management has filled a need in enterprise security programs that’s long been ignored and, for that, we’re extremely proud of our solution. On the other, being in a class of your own can make it hard to gain recognition for what you’re doing. While we’ve been a finalist in this SC Award category many times before, the win shows that the mindset is shifting, and the insights we provide to vulnerability exposure and exploitability are paramount to reducing risk in the face of an increasingly hostile threat environment, compliance initiatives and constant change.”

“The Vulnerability Management Award win is fantastic news,” said Gidi Cohen, CEO and founder of Skybox. “Using network context and attack simulation to find risk exposures was the original product that started Skybox back in 2002, and it was a big deviation from the scanning approaches that were around at the time and are still in use today. We’ve continued to hone this product line, adding in capabilities to manage risk in cloud networks and reduce exposures in industrial control systems, and, overall, to simplify the answer of ‘what do I fix today?’ Recognition of our unique approach from a gold standard like SC Media is great validation and much appreciated.”

To learn more about Skybox solutions for vulnerability management as well as security policy, firewall and change management, visit our website or schedule a demo today.

About Skybox Security

www.skyboxsecurity.com

Skybox provides the industry’s broadest cybersecurity management platform to address security challenges within large, complex networks. By integrating with more than 130 networking and security technologies, the Skybox® Security Suite provides comprehensive attack surface visibility and the context needed for informed action. Our analytics, automation and intelligence improve the efficiency and performance of security operations in vulnerability and threat management and firewall and security policy management for the world’s largest organizations.

© 2019 Skybox Security, Inc. All rights reserved. Skybox Security and the Skybox Security logo are either registered trademarks or trademarks of Skybox Security, Inc., in the United States and/or other countries. All other trademarks are the property of their respective owners. Product specifications subject to change at any time without prior notice.

Tweet This: The Best #VulnerabilityManagement Solution @SCMagazine Awards 2019 goes to @SkyboxSecurity! http://ow.ly/rOlK30oTqFp

PR CONTACT INFORMATION

Victoria Davis Schmidt
Corporate Communications for Skybox Security
+1 571 340 0181 | Victoria.Schmidt@skyboxsecurity.com

Allison + Partners for Skybox Security
United Kingdom: Daniel Couzens
+44 (0)20 7437 0227 | danielc@allisonpr.com

Germany: Stephanie Thoma
+49 (0)89 388 892 012| stephaniet@allisonpr.com

France: Xavier Delhôme
+33 1 41 31 75 09 | xavierd@allisonpr.com

Alliance Public Relations Pvt. Ltd.
India: Meenakshi Lenka
+91-9810577773 | meenakshi@proalliancepr.com

Joint SAR team rescues eight longboat passengers

Ambon (ANTARA) – A SAR team comprising the Tual SAR post, Police’s Mobile Brigade, Water Police Unit and Port Security Implementation Unit in Tual rescued eight aboard a longboat, heading from Tanimbar Islands to Tual, whose engine malfunctioned.

“The passengers found at around 12:25 a.m. local time at the coordinates of 5 41,907 S – 132 49,273 E are safe,” Head of the Ambon Basarnas ( The National Search and Rescue Agency ) Office remarked in Ambon, Maluku Province, on Thursday.

At 1 p.m. local time, all victims were safely evacuated to the Tual Fishing Pier, according to the operation plan, and following an around 1.5-hour-long journey, the SAR team from the SAR Tual Post along with potential SAR personnel using the Bharata SAR state ship berthed at the Tual Fisheries dock.

“With the finding of eight longboat passengers, the SAR operation was declared completed and suggested to be closed,” Muslimin revealed.

The longboat was en route from Neron Village in Larat, North Yamdena Island, Tanimbar Islands District, to Tual City.

Initially, the joint SAR team was deployed after receiving information on Thursday (June 6) at around 10:35 a.m. local time when the longboat was reported to have experienced an engine shutdown at coordinates supposedly at 05’43,377 S – 132’50,653 E and a distance of 21 Nm towards 135 degrees southeast from Tual City.

The longboat passengers were identified as Acmal Qilitutubun, a village official; Luki Refra, a Koramil member; Abdulah; Yahdi Rahan; females Halas Refra, Eda Refra, and Ida Retob; and Nesti Retob.

During the search, light rain fell along with the wind, blowing from east to south, at speeds of five to 25 knots and waves reaching heights of between 0.5 and four meters.

Source: Antara News

Govt should act prudently in providing opportunity to foreign airlines

Professor of International Law at the University of Indonesia Hikmahanto Juwana urged the government to be circumspect in extending an opportunity to foreign airlines to operate on domestic routes.

“Do not let the issue of high aircraft prices liberalize the national aviation industry,” Juwana noted in a statement here on Thursday.

The president had planned to invite foreign airlines to serve Indonesian domestic routes in order to curtail the high prices of airline tickets.

Juwana opined that though the discourse deserved praise, as the main objective was to reduce the prices of flight tickets for domestic routes, several aspects need to be taken into account, including the following three.

He expounded that firstly, under the aviation law, the principle of cabotage stipulates that only domestic airlines can operate on domestic routes. In fact, universally, foreign airlines are prohibited from serving domestic routes of a country.

There are exceptions to this case when no local airline is able to service these routes.

Highlighting the second crucial aspect, Juwana affirmed that permitting foreign airlines to serve domestic routes to lower the ticket prices is an inappropriate strategy.

In the long run, foreign airlines operating on domestic routes can result in the operations of local airlines eventually coming to a halt.

Thirdly, Juwana pointed to regrets possibly arising in future if foreign airlines began flying on a domestic route and were then banned. The government would then encounter difficulties in stemming the role of foreign airlines with legislation once the market has been opened.

Juwana suggested that all can take a cue from the banking industry, which at the outset, was the majority foreign ownership of national banks, as the government did not want to always bail out national banks in the event of problems.

In fact, Juwana stated that allowing foreign investors to own a local bank during that time was viewed as a solution, but it later turned out that several national banks were acquired by foreign investors. Furthermore, foreign investors were found to have reaped the profits.

Currently, when the focus is on reinstating foreign investors in national banks by amending the Banking Law, several foreign investors have raised objection, Juwana noted.

Juwana drew attention to the crucial lesson learnt that momentary solutions, in reality, offer market opportunities from certain industries open to foreign business actors. Market liberalization also occurred.

In fact, the principle of the Indonesian economy, as stipulated in Article 33 of the Constitution, has never changed, according to Juwana.

Source: Antara News