A delegation from the Malta Gaming Authority led by executive chairman Joseph Cuschieri recently visited Melita’s state-of-the-art data centre in Madliena. Mr Cuschieri and his delegation were welcomed by CEO Harald Roesch, CTO Simon Montanaro and director of business services Malcolm Briffa.
Mr Roesch reported that Melita Business is registering exponential growth in the number of clients choosing Melita Data Centre for hosting and co-location services. When compared to June 2015, the number of client data racks hosted at the purpose-built, fully-fenced facility has increased by 100 per cent. Similar growth is expected to continue until the end of the year, he said, especially from companies operating in financial services, banking, remote gaming and ICT industries.
Mr Roesch updated the visiting MGA delegation on Melita’s plans to further strengthen its connectivity to mainland Europe through additional investment in its network capabilities.
Mr Cuschieri said, “It is very encouraging to see service providers like Melita investing millions in the country’s ICT infrastructure to service the growing demand for reliable and super-fast connectivity. Through these investments, Melita and other operators ensure that the country’s ecosystem continues to develop sustainably and in a sophisticated fashion, creating a competitive edge over other jurisdictions.”
Grant Thornton at Monaco Yacht Show
Grant Thornton partner Wayne Pisani and business development senior executive Rishi Bonello attended the Monaco Yacht Show, which saw the world’s leading luxury yachting companies, brokerages and industry players concentrated into one remarkable venue with more than 30,000 visitors.
“Very few people know that The Malta Ship Registry is the largest merchant flag in the European Union and the sixth worldwide,” said Mr Pisani. “It is noteworthy that as at the end of 2015, the registered gross tonnage under the Merchant Shipping Act was 66.2 million, an increase of almost 8.3 million gross tonnage representing a growth rate of 14.3 per cent over the previous year. 2016 is expected to be another exceptional year.”
The success of this industry is partially thanks to the several benefits that yacht-owners get to enjoy when registering their vessels under the Malta flag including low Malta company formation and registration costs, reduced VAT rates, a number of tax exemptions and no restrictions on the nationality of shareholders and directors of Maltese shipping companies. These advantages are complemented by a serious and efficient maritime administration and sound multilateral and bilateral relations between Malta and other states.
Global Capital sponsors Pink October 2016
Global Capital is the main sponsor of Malta’s largest Pink October campaign ever. The main aim of #PinkOctoberMalta is to raise funds and awareness about breast cancer prevention, research and for the purchasing of equipment to improve the quality of life for cancer patients.
This is the first time that Pink October Malta is receiving a financial boost from a corporate sponsor since inception in 2014.
The collaboration between GlobalCapital and Pink October Malta coincides with the launch of Cancer Care – a new insurance product by GlobalCapital offering up to €100,000 in financial support for policyholders who encounter cancer during the term of their policy.
Corporate advisor for MSE’s Prospects platform
Ecovis GRC Limited, part of the Ecovis Malta Group, a firm specialising in accountancy, tax advisory, audit, legal and governance services, has been approved to act as a corporate advisor for companies listing securities on the Malta Stock Exchange’s ‘Prospects’ market.
‘Prospects’ was launched earlier this year with the aim of broadening financing options for SMEs by offering a more cost-effective solution for such companies looking to raise up to €5million in equity or debt capital, and correspondingly increasing investor access to investment opportunities.
The new role of corporate advisor is in line with the strategy being pursued by Ecovis in Malta, which has seen the firm expanding its services in the corporate finance and capital advisory area.
The Ecivis Group in Malta is part of Ecovis International, a global consulting network with its origins in Europe.
Enterprise Risk Management in Insurance
The Malta International Training Centre (MITC) will be organising a one-day course on Enterprise Risk Management (ERM) in Insurance, on October 26. The course programme is based on the outcome of research commissioned by the MITC in collaboration with Mazars, which highlighted the principal themes and trends in ERM within the local insurance sector.
Andre Farrugia, director of studies at MITC, said: “With companies now regularly documenting risk management policies as a fundamental starting step, one of the key focus points of the course will be to tackle the gaps identified between the development of a Risk Appetite (RA) framework and the critical role that it plays in the embedment of the ORSA process, as part of ERM. Although it is essential to have appropriate risk management policies in place – which are also reinforced by means of Solvency II governance parameters – it is critical that these policies influence the day to day processes across the organisation. This includes ensuring that members of staff understand the policy content, and that they utilise this information in order to identify, assess, measure and monitor risks.”
The one-day course will be held at the MITC premises in Mrieħel, and the training sessions will be delivered by risk management experts from Mazars UK. For more information, one can contact the MITC via e-mail at info@mitcentre.com or by visiting http://mitcentre.com/training/courses/ .