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Transcorp Hotels Plc Retains Positive A- (NG) GCR Rating
Transcorp Hotels Plc has retained its national scale ratings at A-(NG) and A2(NG) in the long term and short term respectively.
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp) and owner of the iconic Transcorp Hilton Abuja and Transcorp Hotels Calabar, has retained its national scale ratings at A-(NG) and A2(NG) in the long term and short term respectively, with the outlook accorded as Stable. Concurrently, the national scale ratings accorded to the following Issuances were also affirmed:
- Series 1 N10bn Fixed Rate Bond: A-(NG), Stable Outlook
- Series 2 N9.8bn Fixed Rate Bond: A-(NG), Stable Outlook
According to GCR, the rating reflects Transcorp Hotels ability to maintain its market position as a leading brand in Nigeria’s hospitality industry, supported by the major renovation and facilities upgrade at Transcorp Hilton Abuja (‘THA’) and the subsequent improvement in pricing and occupancy rate. The available support to Transcorp Hotels as a member of Transnational Corporation of Nigeria Plc (“Transcorp”), and the partnership with Hilton Worldwide Limited (“Hilton”) is considered a rating positive.
In the report released in August of 2019, it stated “Following the upgrade at THA and the accompanying repricing of the hotel facilities in FY18, revenue improved across all service lines, with rooms and food and beverages rising 26% and 28% respectively. Per management, the Company is currently exploring other opportunities and add-on services that could be offered to boost overall earnings going forward. The average occupancy rate in 1Q FY19 stood at about 61%, albeit still well ahead of the industry average of 53%. Revenue from room lodging grew by a moderate 5% YoY in 1Q FY19, while food and other services rose 18% and 23% respectively. ”
GCR in its report affirmed that Transcorp Hotels demonstrated a stable outlook in its businesses and the ability to maintain a positive rating in the longer term.
About Transcorp Hotels Plc
Transcorp Hotels Plc (“Company”) is the hospitality subsidiary of Transnational Corporation of Nigeria Plc. The company owns and operates the multiple award-winning Transcorp Hilton Abuja, which provides luxury accommodation, world-class cuisines, conferencing and leisure facilities to business travellers and tourists from all over the world. The Company also owns Transcorp Hotels Calabar Limited, which owns and operates the Transcorp Hotels in Calabar.
More information can be found at www.transcorphotels.com and/or www.abuja.hilton.com
Instagram and Facebook: @transcorphotelsplc
Twitter: @transcorphotels
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BUA donates 3 Emergency COVID-19 ambulances, 100,000 facemasks to Yobe
BUA Group has donated three ambulances and 100,000 facemasks to the Yobe State Government.
As COVID-19 cases continue to rise across Nigeria, BUA has donated three ambulances and 100,000 facemasks to the Yobe State Government as part of its social support and humanitarian commitment to combat the COVID-19 pandemic in the country.
Presenting the donations on behalf of the Chairman of BUA Group, Abdul Samad Rabiu at the Government House, Damaturu, Aliyu Idi Hong, Director of Government Relations, BUA Group commended Governor Mai Mala Buni of Yobe State for his tireless efforts in curbing the COVID-19 pandemic in the state.
L – R: Aliyu Idi Hong, Director of Government Relations, BUA Group presenting documents of 3 emergency ambulances donated by BUA as part of efforts to curb the COVID-19 pandemic to Governor Mai Mala Buni of Yobe State at the Government House, Damaturu.
According to Hong, “So far, the Chairman of BUA Group, Abdul Samad Rabiu has given more than 8 billion Naira worth of support to towards the fight against COVID-19 in Nigeria.”
“With the second wave spreading across Nigeria, we are expanding the scope of our intervention to various states and will continue to support initiatives aimed at helping to curb the spread of the virus in Nigeria,” Hong added.
Reacting, Governor Buni thanked Abdul Samad Rabiu, Chairman/Founder BUA Group, for his humanitarian gesture to the nation especially to Yobe State noting that the “donation is coming at the right time because of the second wave of the pandemic”.
The governor reminded the Yobe people to adhere strictly to the covid-19 preventive measures by wearing facemasks, keeping social distancing and washing their hands
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Another First! Wragby becomes a Microsoft Azure Expert Managed Service Provider (MSP)
This makes Wragby the first Microsoft Partner in Nigeria and West East Central and Sub-Saharan Africa to achieve this!
Wragby Business Solutions & Technologies Limited (Wragby) has achieved the Microsoft Azure Expert Managed Services Provider (MSP) status, maintaining high proficiency in assessing, migrating, building, deploying, optimizing, and managing business solutions on Azure. This makes Wragby the first Microsoft Partner in Nigeria and West East Central and Sub-Saharan Africa to achieve this!
“We are super proud to be awarded this designation as a Microsoft Azure Expert Managed Service Provider. It is yet another proof to the depth of our expertise, by ensuring that our technical capabilities and processes meet and exceed the standards of the Azure Expert MSP program. We look forward to achieving more,” – Oluyomi Alarape , MD/CEO Wragby
Participation in the Azure Expert MSP program is granted to partners that meet several requirements, including verified customer delivery and technical expertise tests, as well as successfully complete an independent audit of their managed services, equipment, processes, and technologies. Providers must hold Microsoft Gold Cloud Platform competency, maintain end-to-end managed support for Azure, and provide multiple customer references of Azure managed service projects delivered over the last 12 months.
The Microsoft Azure Expert Managed Service Provider program is designed to give businesses migrating to the cloud confidence that their chosen partners have demonstrated the highest degree of capability to deliver repeatable high-fidelity managed services on Azure.
According to Akin Ayodele- Chief Technology Advisor at Wragby the attainment of the Azure Expert MSP Certification Wragby has once again demonstrated in very concrete terms her commitment Towards supporting our Customers journey and experience in the use of the Microsoft Azure Intelligent Cloud Platform family to exploit solutions and Innovations to realize their digital transformation objectives.
This recognition validates Wragby’s ability in orchestrating and integrating various services on Azure including cloud infrastructure, IoT services and application migration skills, as well as the ability to deliver value to customers by offering proactive monitoring, automation, and management of their Azure environments.
In the current ever-changing Business Landscape, Businesses need a greater level of auto-scaling to Increase Operational efficiency, be more Agile and deliver excellent customer experience through technology services. Businesses therefore need to auto-scale to meet their technology demands & save cost through Excellent but Cost-Effective Managed services.
Our Best-in-Class Digital Advisory Team has high proficiency in assessing, migrating, building, deploying, optimizing, and managing business solutions on Azure, using proven processes and tools. This is evident by our recent attainment of the Microsoft Azure Expert Managed Services Provider (MSP) status,
Meet IT demands & Save cost through our Expert Managed Services offer which includes:
- Integrated IT service management of workflow/automation
- App Migration/Modernization Services
- Infrastructure Configuration & Management
- Business Continuity, Backup and Disaster Recovery
- Data Protection
- Storage and Patch management
- Security and Identity management
- Cloud Advisory Services…plus more
We work with various teams for efficient delivery either On-premise, Hybrid, or in a Public Cloud.
We are just a call away. Contact us at www.wragbysolutions.com
See more here, https://www.microsoft.com/azure/partners/azureexpertmsp?filters=all
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How artificial intelligence is changing the narrative in Forex and crypto trading
Artificial Intelligence is the most efficient, simple, safe, and affordable way to invest money and trade the Forex Market.
You have probably already heard about Artificial Intelligence (AI) and how it is helping people across various industries in many daily activities. According to JPMorgan, nowadays, 90% of trading is run by computers, algorithms, and passive managers. This means that if you want to invest, you will need equivalent trading tools to compete.
What is AI and How does it work in Forex Trading?
Artificial intelligence is a developed Powerful Automated Trading Robot (AI) that can make projections about the forecast of forex market prices and automatically trade for you in your Broker’s account. It is the most efficient, simple, safe, and affordable way to invest money and trade the Forex Market.
From research so far, fundamental and manual forex trader’s account is about 10% of Forex Trading Volume, so how do you compete against super-fast trading systems with humans or manual trading system? With the use of AI trading, anyone in the world can trade efficiently and increase the chances of achieving above-average forex returns, regardless of the level of trading experience.
The dynamics of the market have changed, and we must agree that we need machines to do many things better, especially in the field of the forex trading market. From this point of view, the providers of manual forex signals and analysis are no longer a great choice. AI is the best forex trading solution.
Unlike humans or other technological resources, AI can make an enormous number of accurate decisions in a fraction of the time, down to milliseconds. These skills make AI an enormously powerful tool for use in forex trading.
To learn more about the use of Artificial Intelligence, click FxPrimeBolt
