Technology
NexPoint Raises Concerns About UDF IV Board Allowing Millions in Management Fees to Enrich Former UDF Executives Imprisoned for Fraud
Published
6 hours agoon
By
Current Trustees Continue to Protect the Interests of the Board, UDF Management, and the Largest Borrower at Shareholders’ ExpenseShareholders Should Not Be Misled by UDF IV’s Ongoing Attempts to Deflect from the Board’s Egregious Actions
DALLAS, Nov. 6, 2024 /PRNewswire/ — NexPoint Real Estate Opportunities, LLC (together with its affiliates “NexPoint”) today provided an update on United Development Funding IV (“UDF IV” or the “Company”). NexPoint notes that UDF IV’s current Board of Trustees continues to deflect attention from the Board’s egregious actions and the Company’s underperformance by pushing false and misleading narratives about NexPoint. Shareholders should instead focus on the ongoing conduct of this Board and recognize the need for wholesale change; otherwise, questionable actions by UDF IV management, the Board, and the Company’s largest borrower, Mehrdad Moayedi, are unlikely to be investigated and remedied.
NexPoint nominated four highly regarded real estate and finance industry professionals to replace the current independent Trustees on the UDF IV Board. These accomplished individuals bring relevant industry expertise and governance experience at both public and private companies to their candidacy. If elected, NexPoint’s nominees are committed to working on behalf of shareholders to enact critical change, establish accountability and transparency, and recover value and liquidity at UDF IV. This includes thoroughly investigating any improper transactions and, where available, pursuing recoveries of misused funds for the benefit of all shareholders.
Shareholders Should Note Major Red Flags from Current Board of Trustees:
UDF IV’s current Board of Trustees does not want you to know that the management fees it continues to approve for UDF’s advisor—over $10 million in the last two years—enrich former UDF executives who are currently in federal prison for committing fraud against UDF IV shareholders. Not only do the convicted felons inordinately profit from UDF IV’s advisory agreement, but the advisory fees appear even more unfounded considering the deficiencies in portfolio management (one of the advisor’s primary responsibilities) that were revealed in the Company’s latest financials. Meanwhile, shareholders suffer without liquidity, brought on by years of disclosure violations that led Nasdaq to delist the stock and the SEC to revoke the Company’s registration altogether. This all occurred under the oversight of three of the four trustees who are up for election.
UDF IV’s Board of Trustees has permitted the Company to use shareholder funds for former executives’ personal disgorgement and legal defenses. Upon information and belief, the Company advanced legal fees totaling more than $65 million, and a significant portion of those advancements may have been improper. For example, the current Trustees authorized the Company to pay millions in legal fees and indemnification expenses for former management’s criminal trial, despite the clear language in the advisory agreement prohibiting indemnification when the expense arises from “an alleged violation of federal or state securities law.” Prior to that, the Board allowed UDF IV to pay former executives’ SEC disgorgements (totaling $7.2 million with pre-judgment interest), which were obligations of the individuals, not the Company.
UDF IV, under the Board of Trustees’ oversight, has permitted the Company to amass over 98% of UDF’s unaffiliated debt with a single borrower, Mehrdad Moayedi and affiliates of Centurion American, a developer with a history of failed projects. Inexplicably, the Company appears to have released Mr. Moayedi from significant personal guarantee liability.
These red flags underscore the urgent need for shareholders to establish proper oversight at UDF IV by replacing the Board of Trustees with NexPoint’s highly qualified nominees: Paul S. Broaddus, Edward N. Constantino, John A. Good, and Julie Silcock.
Shareholders Should Not Be Fooled by UDF IV’s Expensive Misinformation Campaign, Which Defends and Protects the Board and Management at Shareholders’ Expense:
UDF continues to use shareholder funds to spread misleading information about NexPoint to divert shareholder attention from the Board and management’s own actions and abysmal performance.
In its attacks on NexPoint, UDF IV mischaracterizes the performance of one NexPoint-advised REIT, NexPoint Diversified Real Estate Trust (NYSE:NXDT), conveying returns over a self-serving timeframe without including dividends. NexPoint manages real estate assets in many different investment vehicles, including several public and private REITs, registered funds, and tax-advantaged vehicles, among other structures. As responsible stewards of invested capital, NexPoint has a track record of maintaining robust compliance practices and generating meaningful dividends and capital appreciation for its shareholders.
Other established public REITs at NexPoint include NexPoint Residential Trust, Inc. (NYSE:NXRT) and NexPoint Real Estate Finance, Inc. (NYSE:NREF), which delivered total returns of 62.3% and 18.2% respectively over the last year.1
Meanwhile, from the time of UDF IV’s initial listing to when SEC revoked its registration, UDF IV’s share price suffered a -93% decline. It is no wonder the Company wants to divert shareholders’ attention away from that performance. Ignoring this severe decline, UDF IV touts “shareholder returns” that management and the Board allegedly delivered. The cash distributions they cite in support of this are 100% return of capital and should be more cause for concern than celebration.
UDF IV’s communications also criticize management incentives at NXDT, exclusively referencing stock grants awarded under a long-term incentive plan that align the interests of management with shareholders. Such alignment has been markedly absent from UDF IV. Further, UDF IV makes this misleading claim without acknowledging how members of the former management team—who are currently in prison for defrauding shareholders—are getting richly rewarded though UDF IV’s own advisory agreement, which directed over $10 million in fees to the advisor over the last two years.
Finally, UDF IV’s attempts to link unrelated bankruptcy proceedings to this election underscore the lengths the Board and management will go to further entrench themselves and distract from primary issues.
The 2019 bankruptcy proceedings of former affiliate Highland Capital are completely unrelated to NexPoint’s investment in UDF IV and irrelevant to current efforts to drive accountability at the Company. NexPoint’s efforts are focused on electing qualified, independent candidates to the UDF IV Board of Trustees who would represent the interests of all shareholders.
Not only are the matters irrelevant, UDF IV’s account of them mischaracterizes the actions of NexPoint founder James Dondero in these proceedings, promoting misleading claims made by parties in the case who used the process to turn a reorganization of a solvent estate into a liquidation, wasting millions in professional fees and unduly benefitting certain insiders while harming other stakeholders. (In one instance, Highland bankruptcy professionals shirked commitments to pay routine bonuses to rank-and-file employees, prompting Mr. Dondero to use millions of his own personal funds to satisfy these payments.) The improper liquidation forced Mr. Dondero to pursue legal remedies to enforce his and other parties’ rights, minimize waste on unnecessary professional fees and expenses, and otherwise recover funds in the bankruptcy process. Knowledgeable parties involved in the bankruptcy calculate that as much as $600 million was squandered that could have been used to pay creditors in full and permit Highland to emerge as a going concern. As such, interested parties continue to raise concerns that the Chief Restructuring Officer in the case has presided over immense value destruction and enriched himself and undisclosed business relationships at the expense of stakeholders.
(Details of bad acts by: (i) James Seery; and (ii) GCM Grovesnor (NASDAQ:GCMG), Stonehill Capital Management, LLC, and Farallon Capital Management, LLC.)
Mr. Dondero’s actions are in pursuit of accountability for this mismanagement of the estate and enforcement of his and other stakeholders’ rights within the bankruptcy proceedings.
While NexPoint seeks to correct UDF’s misleading accounts of these matters, the bankruptcy proceedings and the legal actions surrounding them have no bearing on NexPoint’s efforts to restore accountability at UDF IV. NexPoint urges shareholders not to let the Company’s misinformation and deception tactics distract from the severe issues at UDF IV. Electing new Trustees to the UDF IV Board is the only way to enact change and effectively address those issues that truly matter for shareholders and directly affect their investment.
Vote for Change by Electing NexPoint’s Nominees to UDF IV’s Board of Trustees:
The UDF IV Board’s red flags highlight the need for change to prevent further value destruction. Today, in addition to the current Trustees’ track record, shareholders should be concerned about the amount of time and money the Board is spending to hide the truth and stay in power.
Shareholders can vote TODAY to replace the current Trustees, voting FOR NexPoint’s nominees using the GREEN proxy card. Follow the voting instructions on your green proxy materials to submit your vote.
If you have already submitted a white proxy card, it’s not too late to change your vote. Only the last date proxy card submitted will be counted.
For detailed voting instructions, visit: udfaccountability.com/voting-information
For voting assistance contact Okapi Partners at: info@okapipartners.com or (877) 869-0171
IMPORTANT INFORMATION
NexPoint Real Estate Opportunities, LLC (“NexPoint”) has delivered a proxy statement with respect to its solicitation of proxies for nominees to be elected to the United Development Funding IV (“UDF IV”) Board of Trustees at the Annual Meeting of Shareholders of UDF IV. The date for the Annual Meeting has not yet been set at this time.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE NEXPOINT PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) IN ITS ENTIRETY AS IT CONTAINS IMPORTANT INFORMATION ABOUT THE PROXY SOLICITATION.
Copies of the documents are available free of charge from NexPoint by accessing the website www.udfaccountability.com.
NexPoint, its affiliates, their directors and executive officers and other members of management and employees may be participants (collectively “Participants”) in the solicitation of proxies by NexPoint. Information about NexPoint’s nominees to the UDF IV Board of Trustees and information regarding the direct or indirect interests in UDF IV, by security holdings or otherwise, of NexPoint, the other Participants and NexPoint’s nominees will be available in the proxy statement. NexPoint’s disclosure of any security holdings will be based on information made available to NexPoint by such Participants and nominees. UDF IV is no longer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. Consequently, NexPoint’s knowledge of significant security holders of UDF IV and as to UDF IV itself is limited.
Past performance does not guarantee future results. Performance during time periods shown is limited and may not reflect the performance in different economic and market cycles. There can be no assurance that similar performance will be experienced.
CONTACT INFORMATION
Media Contact: nexpointteam@reevemark.com
Investor Relations: ir@nexpoint.com
___________________________
1 Based on cumulative dividends and stock price as of 10/31/2024. Based on stock price only, NXRT and NREF increased 54.3% and 2.0% during this period respectively.
View original content:https://www.prnewswire.com/news-releases/nexpoint-raises-concerns-about-udf-iv-board-allowing-millions-in-management-fees-to-enrich-former-udf-executives-imprisoned-for-fraud-302298171.html
SOURCE NexPoint Advisors, L.P.
You may like
Technology
OPPORTUNITY ZONE HOUSING MARKETS STILL KEEPING UP WITH BROADER NATIONWIDE PRICE GAINS DURING THIRD QUARTER
Published
53 mins agoon
November 7, 2024By
Median Home Values Increase During Third Quarter of 2024 in Majority of Opportunity Zones Targeted for Economic Redevelopment Around U.S.;
Prices Trends Inside Zones Once Again Reflect National Patterns
IRVINE, Calif., Nov. 7, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its third-quarter 2024 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 3,857 zones around the United States with sufficient data to analyze, meaning they had at least five home sales in the third quarter of 2024.
The report found that median single-family home and condo prices increased from the second quarter of 2024 to the third quarter of 2024 in 53 percent of Opportunity Zones around the country with enough data to measure. They were up annually in 61 percent of those zones.
As the nation’s long housing market boom continued, median prices increased more than 10 percent annually in almost half the Opportunity Zones analyzed.
Those trends, in and around low-income neighborhoods where the federal government offers tax breaks to spur economic revival, extended a long-term pattern of home values inside Opportunity Zones moving parallel to broader nationwide price shifts for at least the last three years. That pattern has remained in place regardless of whether the housing market has surged, improved modestly or ticked downward.
Despite overall gains inside Opportunity Zone markets, the third-quarter trends again were mixed, with typical values rising more in higher-priced zones while benefitting fewer of the very lowest-priced neighborhoods. That continued to reveal how the very bottom of the U.S. housing market is benefitting less from the national run of price gains now in its 13th year and could be more vulnerable if that pattern levels off or reverses.
Nevertheless, the latest patterns yet again showed how some of the most distressed communities in the nation are enjoying strong signs of ongoing economic strength, or limited weakness, compared to other markets around the country.
By several important measures, Opportunity Zones again did even better than the nation as a whole during the third quarter of 2024. For example, median prices inside the zones grew by at least 10 percent annually more often than elsewhere.
“Another quarter, another sign of rising fortunes. That again is the takeaway from home-price data inside neighborhoods with some of the most pressing needs around the country, marking just the latest indication of their economic potential,” said Rob Barber, CEO for ATTOM. “We keep seeing this over and over as soaring values push house hunters without a ton of resources out of pricier locations to more-affordable markets.”
He added that “the situation inside Opportunity Zones still is far from rosy. Significant numbers still face depressed prices. But the latest big picture provides more evidence of home buyers interested in these communities, which can only be a positive lure for the investments that Opportunity Zone incentives are designed to attract.”
Opportunity Zones are defined in the Tax Act legislation as census tracts in or alongside low-income neighborhoods that meet various criteria for redevelopment in all 50 states, the District of Columbia and U.S. territories. Census tracts, as defined by the U.S. Census Bureau, cover areas that have 1,200 to 8,000 residents, with an average of about 4,000 people.
Amid economic limitations, most Opportunity Zones still had typical home values that fell well below those around most of the nation in the third quarter of 2024. Median third-quarter prices inside about 80 percent of the zones were less the U.S. median of $360,500. That was about the same portion as in earlier periods over the past three years. In addition, median prices remained under $200,000 in almost half the zones.
Considerable price volatility also continued inside Opportunity Zones, with median values either dropping or increasing by at least 5 percent in nearly three-quarters of those locations from the second quarter of 2024 to the third quarter of this year. That again likely reflected small numbers of sales in many zones.
High-level findings from the report:
Median prices of single-family homes and condos increased from the second quarter of 2024 to the third quarter of 2024 in 1,803 (53 percent) of the Opportunity Zones around the U.S. with sufficient data to analyze, while staying the same or decreasing in 47 percent. Measured annually, medians remained up from the third quarter of 2023 to same period this year in 2,091 (61 percent) of those zones. (Among the 3,857 Opportunity Zones included in the report, 3,426 had enough data to generate usable median-price comparisons from the second to the third quarter of 2024; 3,420 had enough data to make comparisons between the third quarter of 2023 and the third quarter of 2024).In another indication of strength, typical values rose by more than 10 percent annually in 43 percent of Opportunity Zones versus 37 percent of census tracts elsewhere.Measured quarterly, typical values were up more than 5 percent in 42 percent of Opportunity Zones and in 39 percent of neighborhoods outside the zones.However, in a potential sign of trouble, median prices were up annually in only 48 percent of Opportunity Zones where homes commonly sold for less than $125,000 during the third quarter of 2024.Among states that had at least 25 Opportunity Zones with enough data to analyze during the third quarter of 2024, the largest portions of zones where median prices increased annually were in Nevada (medians up from the third quarter of 2023 to the third quarter of 2024 in 81 percent of zones), Wisconsin (75 percent), Indiana (72 percent), Ohio (69 percent) and Utah (69 percent). States where prices were up annually in the smallest portion of zones included Kentucky (median prices up in 46 percent of zones), Louisiana (47 percent), Colorado (47 percent), Arizona (48 percent of zones) and Oklahoma (52 percent).Of the 3,857 zones in the report, 1,081 (28 percent) had median prices below $150,000 in the third quarter of 2024. That was down from 33 percent of zones with sufficient data a year earlier and almost 60 percent five years ago. Another 636 zones (16 percent) had medians in the third quarter of this year ranging from $150,000 to $199,999.Median values in the third quarter of 2024 ranged from $200,000 to $299,999 in 25 percent of Opportunity Zones while they topped the nationwide third-quarter median of $360,500 in just 21 percent.The Midwest continued in the third quarter of 2024 to have larger portions of the lowest-priced Opportunity Zone tracts. Median home prices were less than $175,000 in 58 percent of zones in the Midwest, followed by the Northeast (40 percent), the South (39 percent) and the West (5 percent).Median household incomes in 87 percent of the Opportunity Zones analyzed were less than the medians in the counties where they were located. Median incomes were less than three-quarters of county-level figures in 54 percent of those zones and less than half in 14 percent.
Report methodology
The ATTOM Opportunity Zones analysis is based on home sales price data derived from recorded sales deeds. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. ATTOM’s analysis compared median home prices in census tracts designated as Opportunity Zones by the Internal Revenue Service. Except where noted, tracts were used for the analysis if they had at least five sales in the third quarter of 2024. Median household income data for tracts and counties comes from surveys taken the U.S. Census Bureau (www.census.gov) from 2018 through 2022. The list of designated Qualified Opportunity Zones is located at U.S. Department of the Treasury. Regions are based on designations by the Census Bureau. Hawaii and Alaska, which the bureau designates as part of the Pacific region, were included in the West region for this report.
About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloud, bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – AI-Ready Solutions.
Media Contact:
Megan Hunt
megan.hunt@attomdata.com
Data and Report Licensing:
datareports@attomdata.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/opportunity-zone-housing-markets-still-keeping-up-with-broader-nationwide-price-gains-during-third-quarter-302297802.html
SOURCE ATTOM
Technology
Samsung Year-End Promo 2024: Big Savings, Free Gifts, and More!
Published
53 mins agoon
November 7, 2024By
KUALA LUMPUR, Malaysia, Nov. 7, 2024 /PRNewswire/ — The holiday season is just around the corner, and Samsung Malaysia is kicking it off with its Year-End Promo (YEP) Campaign from 1 November 2024 to 31 December 2024. This is the opportunity to upgrade your home entertainment and appliances at discounted prices, while also scoring some fantastic freebies worth up to RM1,999[1] when you purchase selected products.
During this campaign period, customers can enjoy promotional prices on a range of TVs, audio-visual, and digital appliances. On top of that, with every qualifying purchase of selected products, you may redeem a specific free gift[2], such as Samsung’s Music Frame, a Samsonite 20″ luggage[3], or a Stanley Quencher Tumbler[4] with every qualifying purchase!
But that’s not all! With the purchase of selected products, customers can also collect the AI Icon points which can be used to redeem TNG eWallet credits worth up to RM800[5], adding even more value to your Year-End purchases. Be sure to check the list of eligible products in the appendix below to take advantage of this offer.
The redemption period for the promotion runs from 1 November 2024 – 15 January 2025, so make sure to redeem your TNG credits before the deadline[6]!
Audio Visual (AV) 2024 Year-End Purchase with Purchase (PWP) Promotion[7]
Customers who purchase any selected items listed in Appendix 1 to 3 will also be eligible for a Purchase-with-Purchase (PWP) promotion on selected Samsung sound devices[8]. With this offer, you can enhance your home entertainment experience by adding a sound device at an exclusive price[9]. Check out the list of selected sound devices and their exclusive PWP prices below.
Promotional AV Products
Recommended Retail Price of PWP Item (RM)
Promo Price for PWP Item (RM)
Q-series Soundbar
HW-Q990D/XM
6,499
4,999
Q-series Soundbar
HW-Q930D/XM
4,999
3,699
Q-series Soundbar
HW-Q800D/XM
3,999
2,999
Q-series Soundbar
HW-Q700D/XM
2,999
2,299
Lifestyle Soundbar
HW-S801D/XM
2,999
2,699
Sound Tower
MX-T70/XM
1,999
1,699
Sound Tower
MX-ST50B/XM
1,699
1,299
Digital Appliances (DA) 2024 Year-End Purchase with Purchase (PWP) Promotion[10]
With every purchase of selected Samsung vacuum cleaners, you’ll unlock an exclusive Purchase with Purchase (PWP) deal as listed below.
Promotional DA Products
PWP Item
Recommended Retail Price of PWP Item (RM)
Promo Price for PWP Item (RM)
Bespoke Jet™ Plus Premium
VS20B958F3B/ME
Jet Dual Brush (VCA-TABA95)
399
299
Bespoke Jet™ Plus Pet
VS20B95823W/ME
Slim LED Brush (VCA-SABC95)
499
399
Spray Spinning Sweeper (VCA-WBA95/GL)
599
399
Jet™ 75E Multi
VS20B75AER4/ME
Clean Station (VCA-SAE903/ME)
699
399
Jet™ 65 Pet VS15A60AGR5/ME
Clean Station (VCA-SAE903/ME)
699
399
AI Icon Point Promotion: The More You Buy, the More You Save![11]
Samsung’s AI Icon Point Promotion makes it even easier to save this holiday season. Here’s how it works:
Buy more, save more: Collect AI Icon Points for any purchase of selected promotional product models (refer to Appendix 1, 2, 3, and 4 for eligible products)[12].Collect and Redeem: Purchase at least two (2) products with the AI Icon, and collect a minimum of five (5) points to be eligible for bonus TNG eWallet credits[13]. The more AI Icon points you collect, the greater your bonus (refer to the table below for redemption details).
AI Point(s)
Bonus TNG eWallet Credit (RM)
5 AI points
500
6 AI points
600
7 AI points
700
8 & above AI points
800
For more information on the campaign, please visit: https://www.samsung.com/my/offer/season-of-gifting-2024
[1] First come first served basis, and while stocks last. Terms and conditions apply.
[2] First come first served basis, and while stocks last. Terms and conditions apply.
[3] Will be provided in random colours, subject to availability.
[4] Will be provided in random colours, subject to availability.
[5] First come first served basis, and while stocks last. Terms and conditions apply.
[6] While stocks last. Terms and Conditions apply.
[7] While stocks last. Terms and Conditions apply.
[8] While stocks last. Terms and Conditions apply.
[9] While stocks last. Terms and Conditions apply.
[10] While stocks last. Terms and Conditions apply.
[11] While stocks last. Terms and Conditions apply.
[12] While stocks last. Terms and Conditions apply.
[13] While stocks last. Terms and Conditions apply.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom at news.samsung.com.
“SAMSUNG MALAYSIA ELECTRONICS (SME) SDN BHD [Company No. 200301026766(629186-D)]”.
APPENDIX 1
Category
Model Code
RRP (RM)
SmartThings (YES / NO)
AI Icon Point
Free Gift
Free Gift RRP (RM)
TV
QA85QN900DKXXM
46,999
YES
3
Music Frame
1,999
TV
QA85QN800DKXXM
32,999
YES
3
Music Frame
1,999
TV
QA75QN900DKXXM
30,999
YES
3
Music Frame
1,999
TV
QA75QN800DKXXM
24,999
YES
3
Music Frame
1,999
TV
QA85QN87DAKXXM
20,999
YES
3
Music Frame
1,999
TV
QA85QN85DBKXXM
18,599
YES
3
Music Frame
1,999
TV
QA75QN87DAKXXM
13,999
YES
3
Music Frame
1,999
TV
QA75QN85DBKXXM
11,999
YES
3
Music Frame
1,999
TV
QA65QN87DAKXXM
9,899
YES
2
Tumbler
199
TV
QA65QN85DBKXXM
8,299
YES
2
Tumbler
199
TV
QA98Q80CAKXXM
33,999
YES
3
Music Frame
1,999
TV
QA65Q80DAKXXM
7,099
YES
2
TV
QA85Q70DAKXXM
14,199
YES
3
Tumbler
199
TV
QA75Q70DAKXXM
10,199
YES
3
Tumbler
199
TV
QA65Q70DAKXXM
6,199
YES
2
TV
QA85Q60DAKXXM
10,999
YES
3
TV
QA75Q60DAKXXM
6,799
YES
2
TV
QA77S95DAKXXM
32,999
YES
3
Music Frame
1,999
TV
QA77S90DAEXXM
28,999
YES
3
Music Frame
1,999
TV
QA65S95DAKXXM
17,999
YES
3
Tumbler
199
TV
QA65S90DAKXXM
15,999
YES
3
Tumbler
199
TV
QA85LS03DAKXXM
19,799
YES
3
Music Frame
1,999
TV
QA75LS03DAKXXM
12,399
YES
3
Tumbler
199
TV
QA65LS03DAKXXM
8,399
YES
2
TV
UA98DU9000KXXM
23,999
YES
3
Music Frame
1,999
TV
UA85DU8000KXXM
8,999
YES
2
Tumbler
199
TV
UA85DU7000KXXM
8,299
YES
2
Tumbler
199
TV
UA75DU8000KXXM
5,199
YES
2
Tumbler
199
TV
QA55LS03DAKXXM
6,199
YES
2
TV
QA55Q70DAKXXM
4,999
YES
2
TV
QA85Q65DAKXXM
10,999
YES
3
TV
QA75Q65DAKXXM
6,999
YES
2
TV
QA65Q65DAKXXM
4,699
YES
2
TV
QA55Q65DAKXXM
3,699
YES
1
TV
QA65Q60DAKXXM
4,499
YES
2
TV
QA55Q60DAKXXM
3,699
YES
1
TV
QA50Q60DAKXXM
3,299
YES
1
TV
UA65DU8500KXXM
3,699
YES
1
TV
UA55DU8500KXXM
2,999
YES
1
TV
UA65DU8000KXXM
3,599
YES
1
TV
UA55DU8000KXXM
2,899
YES
1
TV
UA75DU7000KXXM
4,899
YES
1
Tumbler
199
TV
UA65DU7000KXXM
3,399
YES
1
TV
UA55DU7000KXXM
2,699
YES
1
TV
UA50DU7000KXXM
2,399
YES
1
TV
UA43DU7000KXXM
1,799
YES
1
APPENDIX 2
Category
Model Code
RRP (RM)
PWP Price (RM)
SmartThings (YES / NO)
AI Icon Point
Free Gift
Free Gift RRP (RM)
AV
HW-Q990D/XM
6,499
4,999
YES
2
Tumbler
199
AV
HW-Q930D/XM
4,999
3,699
YES
2
Tumbler
199
AV
HW-Q800D/XM
3,999
2,999
YES
2
–
–
AV
HW-Q700D/XM
2,999
2,299
YES
2
–
–
AV
HW-S801D/XM
2,999
2,699
YES
2
–
–
AV
MX-T70/XM
1,999
1,699
YES
2
–
–
AV
MX-ST50B/XM
1,699
1,299
YES
1
–
–
APPENDIX 3
Category
Model Code
Model
RRP (RM)
Promo Price (RM)
SmartThings (YES / NO)
AI Icon Point
Free Gift
Free Gift RRP (RM)
Refrigerator
RS62T5F01B4/ME
SBS
9,399
–
YES
3
Luggage
1,499
Refrigerator
RH62A50E16C/ME
SBS
6,599
–
NO
0
Luggage
1,499
Refrigerator
RF59CB0T08A/ME
FDR
7,999
–
YES
3
Luggage
1,499
Refrigerator
RF59CB0T03P/ME
FDR
7,999
–
YES
3
Luggage
1,499
Refrigerator
RS63R5591B4/ME
SBS
5,999
5,499
NO
0
–
–
Refrigerator
RS57DG4000B4ME
SBS
4,199
–
YES
2
Tumbler
199
Refrigerator
RF48A4000M9/ME
FDR
4,799
3,799
NO
0
–
–
Refrigerator
RF48A4000B4/ME
FDR
4,999
4,099
NO
0
–
–
Refrigerator
RB45DG600EB1ME
BMF
3,699
3,399
YES
2
Tumbler
199
Refrigerator
RB50DG632EB1ME
BMF
4,399
4,099
YES
2
Tumbler
199
Refrigerator
RT62K7005BS/ME
TMF
4,199
3,599
NO
0
–
–
Refrigerator
RT53DG7A64B1ME
TMF
3,699
–
YES
2
Tumbler
199
Refrigerator
RT47CB66448CME
TMF
3,399
–
YES
1
Tumbler
199
Refrigerator
RT47CB66448JME
TMF
3,399
–
YES
1
Tumbler
199
Refrigerator
RT47CB664422ME
TMF
3,399
–
YES
1
Tumbler
199
Refrigerator
RT47CB66448AME
TMF
3,399
–
YES
1
Tumbler
199
Refrigerator
RT42CB664412ME
TMF
3,199
–
YES
1
–
–
Refrigerator
RT42CB66443VME
TMF
3,199
–
YES
1
–
–
Refrigerator
RT42CB6644C3ME
TMF
3,199
–
YES
1
–
–
Refrigerator
RT42CB66443PME
TMF
3,199
–
YES
1
–
–
Refrigerator
RT38CB66448AME
TMF
3,199
–
YES
1
–
–
Refrigerator
RT47CG6444B1ME
TMF
3,199
2,899
NO
0
–
–
Refrigerator
RT42CG6444B1ME
TMF
2,999
2,699
NO
0
–
–
Refrigerator
RT38CG6444B1ME
TMF
2,799
2,499
NO
0
–
–
Refrigerator
RT35CG5442B1ME
TMF
2,599
2,149
NO
0
–
–
Refrigerator
RT31CG5022B1ME
TMF
2,399
1,999
NO
0
–
–
Washing Machine
WD21T6500GV/SP
Drum
7,999
–
YES
3
Luggage
1,499
Washing Machine
WD17T6300GP/SP
Drum
5,799
4,399
YES
2
Tumbler
199
Washing Machine
WD13BB944DGBFQ
Drum
5,699
–
YES
3
Tumbler
199
Washing Machine
WF24B9600KV/FQ
Drum
6,899
–
YES
3
Luggage
1,499
Washing Machine
WF17T6000GW/FQ
Drum
4,999
3,999
YES
2
Tumbler
199
Washing Machine
WW13BB944DGMFQ
Drum
4,799
–
YES
3
Tumbler
199
Washing Machine
WW13BB944DGBFQ
Drum
4,799
–
YES
3
Tumbler
199
Washing Machine
DF10A9500CG/FQ
Air Dresser
8,799
–
YES
3
Luggage
1,499
Washing Machine
DV90BB9440GMFQ
Dryer
4,499
–
YES
2
Tumbler
199
Washing Machine
DV10BB9440GBFQ
Dryer
4,699
–
YES
2
Tumbler
199
Washing Machine
DV17B9750CV/FQ
Dryer
7,499
–
YES
3
Luggage
1,499
Washing Machine
WD12DB8B85GBFQ
Drum
5,299
3,999
YES
3
Tumbler
199
Washing Machine
WD12DG5B15BBFQ
Drum
4,599
3,599
YES
0
Tumbler
199
Washing Machine
WA23A8377GV/FQ
Top Load
3,699
3,399
YES
2
Tumbler
199
Washing Machine
WA19CG6886BVFQ
Top Load
3,499
2,499
YES
1
Tumbler
199
Washing Machine
WA17CG6886BVFQ
Top Load
3,099
2,149
YES
1
–
–
Washing Machine
WA15CG5745BDFQ
Top Load
2,649
1,949
NO
0
–
–
Washing Machine
WA13CG5745BVFQ
Top Load
2,449
1,799
NO
0
–
–
Washing Machine
WA12CG5745BDFQ
Top Load
2,099
1,749
NO
0
–
–
Washing Machine
WA11CG5745BYFQ
Top Load
1,949
1,499
NO
0
–
–
Washing Machine
WW10T634DLH/FQ
Drum
3,449
–
YES
3
Tumbler
199
Washing Machine
DV90T6240LH/FQ
Dryer
3,999
–
YES
2
Tumbler
199
Washing Machine
WW10TP44DSX/FQ
Washer
3,899
–
YES
3
Tumbler
199
Washing Machine
DV90T8240SX/FQ
Dryer
4,199
–
YES
2
Tumbler
199
Washing Machine
WD25DB8995BZFQ
Drum
14,999
12,999
YES
6
Luggage
1,499
Air Conditioner
AR10BYEAAWKNME
WindFree
2,639
2,439
YES
1
Tumbler
199
Air Conditioner
AR13BYEAAWKNME
WindFree
2,939
2,739
YES
1
Tumbler
199
Air Conditioner
AR18BYEAAWKNME
WindFree
4,239
3,939
YES
2
Tumbler
199
Air Conditioner
AR24BYEAAWKNME
WindFree
4,839
4,439
YES
2
Tumbler
199
Air Conditioner
AR10BYFAMWKNME
WindFree
2,239
2,039
YES
1
–
–
Air Conditioner
AR13BYFAMWKNME
WindFree
2,539
2,339
YES
1
–
–
Air Conditioner
AR18BYFAMWKNME
WindFree
3,839
3,539
YES
2
–
–
Air Conditioner
AR24BYFAMWKNME
WindFree
4,339
4,039
YES
2
–
–
Air Purifier
AX46BG5000GSME
Air Purifier
2,199
1,999
YES
1
Tumbler
199
Vacuum
VS20B958F3B/ME
Stick
4,199
3,499
NO
0
Tumbler
199
Vacuum
VS20B95823W/ME
Stick
3,899
3,199
NO
0
Tumbler
199
Vacuum
VS20C852FTB/ME
Stick
2,899
2,249
NO
0
–
–
Vacuum
VS20B75AER4/ME
Stick
1,999
1,799
NO
0
–
–
Vacuum
VS15A60AGR5/ME
Stick
1,549
1,399
NO
0
–
–
Microwave Oven
MC35R8088LV/SM
Convection
1,959
1,899
NO
0
Tumbler
199
Microwave Oven
MC35R8088LC/SM
Convection
1,959
1,899
NO
0
Tumbler
199
Microwave Oven
MC28A5135KK/SM
Convection
1,199
–
NO
0
–
–
Microwave Oven
MG30T5018CV/SM
Grill
799
779
NO
0
–
–
Microwave Oven
MG30T5018CK/SM
Grill
799
779
NO
0
–
–
Microwave Oven
MG30T5018CP/SM
Grill
799
779
NO
0
–
–
Microwave Oven
MG23T5018CK/SM
Grill
639
619
NO
0
–
–
Microwave Oven
MG23T5018CP/SM
Grill
639
619
NO
0
–
–
Microwave Oven
MS32DG4504AGSM
Solo
699
649
NO
0
–
–
Microwave Oven
MS20A3010AL/SM
Solo
309
259
NO
0
–
–
APPENDIX 4
Category
Model Code
Combo
RRP (RM)
Promo Price (RM)
SmartThings (YES / NO)
AI Icon Point
Free Gift
Free Gift RRP (RM)
Washing Machine
WF24B9600KV/FQ
Washer + Dryer Set
6,899
12,999
YES
3
Luggage
1,499
Washing Machine
DV17B9750CV/FQ
7,499
3
Luggage
1,499
Washing Machine
WW13BB944DGMFQ
Washer + Dryer Set
4,799
7,499
YES
3
Tumbler
199
Washing Machine
DV90BB9440GMFQ
4,499
2
Tumbler
199
Washing Machine
WW13BB944DGBFQ
Washer + Dryer Set
4,799
7,599
YES
3
Tumbler
199
Washing Machine
DV10BB9440GBFQ
4,699
2
Tumbler
199
Washing Machine
WW10TP44DSX/FQ
Washer + Dryer Set
3,899
6,899
YES
3
Tumbler
199
Washing Machine
DV90T8240SX/FQ
4,199
2
Tumbler
199
Washing Machine
WW10T634DLH/FQ
Washer + Dryer Set
3,449
6,499
YES
3
Tumbler
199
Washing Machine
DV90T6240LH/FQ
3,999
2
Tumbler
199
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/samsung-year-end-promo-2024-big-savings-free-gifts-and-more-302298379.html
SOURCE Samsung Electronics
Technology
DeFinity Markets Integrates Fireblocks to enable secure API Digital Asset Operations for Institutions
Published
53 mins agoon
November 7, 2024By
LONDON, Nov. 7, 2024 /PRNewswire/ — DeFinity Markets, the first full-stack institutional digital asset matching and settlement platform for fiat and crypto, has integrated Fireblocks, an enterprise platform for building blockchain applications and managing digital asset operations, to facilitate safe storage and transactions for select API clients.
Fireblocks’ cutting-edge security infrastructure, combined with DeFinity’s advanced order matching and settlement capabilities across FX and digital assets, empowers users to trade seamlessly with minimal friction. By leveraging Fireblocks, DeFinity ensures institutional clients can execute trades with enhanced transparency, security, and ease.
Michael Shaulov, CEO of Fireblocks, said: “We are excited to support DeFinity Markets as they leverage our infrastructure to enhance the security and efficiency of their digital asset operations. With our infrastructure in place, DeFinity’s API clients can trade with confidence and ease, knowing their transactions are backed by the best security out there.”
The seamless integration of Fireblocks’ and DeFinity Markets’ services underpins the mutual dedication to helping clients achieve their digital assets and fiat requirements efficiently.
Manu Choudhary, CEO of DeFinity Markets, commented: “We are delighted to work with Fireblocks as it fits well into our strategic vision and roadmap of providing PB credit intermediated trading services for digital asset clients in the TradFi space.”
This integration further solidifies both companies’ commitment to supporting institutional clients in meeting their digital asset and fiat requirements with efficiency and security. Fireblocks’ advanced network capabilities simplify digital asset transfers by streamlining wallet address management, significantly reducing the risk of manual entry errors.
Michael Siwek, co-founder of DeFinity Markets, concluded: “This ongoing collaboration is very timely given our group company’s recent Jersey VASP status and the full launch of digital assets on the island. We will be working closely with Fireblocks to deliver a suite of products to our future PB clients transacting crypto currencies.”
As the custodian landscape evolves, the demand for qualified custody among institutional market participants continues to grow. The Fireblocks Trust Company is poised to offer the most secure, bank-grade cold storage solution, ensuring the highest level of protection for digital assets and supporting the growth of the U.S. digital asset ecosystem. TrustCo allows us to offer clients the flexibility to choose between traditional bank-backed cold storage and Fireblocks-backed physical cold storage, ensuring the highest level of security for their assets. Fireblocks’ cold storage custody solution meets New York Banking Law regulatory requirements, as well as the SEC’s Custody Rule, to provide comprehensive compliance and peace of mind for institutional clients.
By working with Fireblocks, we expect to further drive innovation in the rapidly evolving digital asset space, creating new opportunities for institutions to engage in cross-asset trading with unparalleled security, liquidity, and flexibility.
About DeFinity Markets
DeFinity Markets® is the Institutional Standard in Digital Assets Trading and fiat rails. DeFinity is built on institutional-grade technology offering unprecedented digital assets market access to globally leading Financial Institutions seeking to diversify their portfolio. The DeFinity management team has applied decades of knowledge of traditional financial markets to create the DeFinity ECN with direct market access. Platform participants can transact fiat FX trades with the digital asset’s component completed on the DeFinity ECN. The ECN is custody-agnostic and provides FIX API access, a standardized rulebook powered by an embedded AML/KYC framework. We aggregate quotes from market makers on which qualified clients can transact digital assets. DeFinity offers access to liquidity across all major digital assets, including stable coins. The DeFinity ECN supports fiat currencies including GBP, EUR, USD crosses supported by an integrated fiat on and off-ramp gateway.
Media Room DeFinity Markets
media@DeFinityMarkets.com
View original content:https://www.prnewswire.co.uk/news-releases/definity-markets-integrates-fireblocks-to-enable-secure-api-digital-asset-operations-for-institutions-302297759.html
OPPORTUNITY ZONE HOUSING MARKETS STILL KEEPING UP WITH BROADER NATIONWIDE PRICE GAINS DURING THIRD QUARTER
Samsung Year-End Promo 2024: Big Savings, Free Gifts, and More!
DeFinity Markets Integrates Fireblocks to enable secure API Digital Asset Operations for Institutions
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
Peloton Unveils Holiday 2022 Creative Campaign Highlighting How Motivation Transcends Beyond the Workout
These ’90s fashion trends are making a comeback in 2017
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Technology5 days ago
BLUE LOCK UNVEILS NEWEST KEY VISUAL AHEAD OF SEASON 2 CLIMACTIC MATCH
-
Technology5 days ago
Sirius Signal Announces Price Reduction on Full Line of Marine Safety Devices
-
Coin Market4 days ago
Bitcoin price peels back from its weekly high, but BTC derivatives markets look good
-
Coin Market4 days ago
What is BlackCat ransomware in crypto?
-
Coin Market5 days ago
Trump makes big promises about crypto in US — But can he deliver?
-
Coin Market4 days ago
Stablecoin supply alone won't pump Bitcoin markets — Ki Young Ju
-
Coin Market2 days ago
Bitcoin price volatility expected ahead of US elections: Here are the price levels to watch
-
Coin Market5 days ago
NFT sales surge 18% as all-time volume on Solana nears $6B