Matmerize secures DOD award to develop low-flammability polymer composite materials using advanced AI methods

ATLANTA, Nov. 07, 2023 (GLOBE NEWSWIRE) — Matmerize, Inc., an industry leader in Polymer & Formulations Informatics proudly announces its selection by the US Department of Defense (DOD) for a Small Business Innovation Research (SBIR) contract aimed at advancing AI methodologies for accelerating the design of novel low-flammability polymer composite materials. Matmerize is excited about the […]

ATLANTA, Nov. 07, 2023 (GLOBE NEWSWIRE) — Matmerize, Inc., an industry leader in Polymer & Formulations Informatics proudly announces its selection by the US Department of Defense (DOD) for a Small Business Innovation Research (SBIR) contract aimed at advancing AI methodologies for accelerating the design of novel low-flammability polymer composite materials. Matmerize is excited about the transformative potential of this project as it will not only enhance fire safety for Navy ships and submarines, but will also find applications in a wide range of industries, including construction, aerospace, automotive and consumer products. This award comes at the heels of another SBIR recently awarded to Matmerize by the National Science Foundation (NSF) to develop physics-informed and physics-enforced machine learning architectures to advance materials development.

The flammability of polymer composites is quantified by a set of quantitative parameters, typically measured using highly standardized instruments/tests defined by the American Society for Testing and Materials (ASTM) and other agencies. Desirable polymeric materials that meet the specific values of ASTM and non-ASTM standardized tests require an optimal combination of base polymers, functional additives, flame retardants, and processing conditions. Matmerize will collaborate with DOD to develop a Polymer Informatics capability using suitable curated data and advanced AI/ML techniques, aimed at the accelerated design of low-flammability polymer matrix composites that meet other critical mechanical and thermal performance targets needed by the Navy.

Key highlights of the contract include:

(1)  creation of a composite materials database with flammability and other relevant properties such as maximum heat release rate, time to ignition, and smoke density,
(2)   development of AI models trained on the database to predict the relevant properties for new composite formulations, and
(3)  recommend a pool of promising polymer composites, i.e., the combinations of base polymers, functional additives, flame retardants, and processing conditions, for experimentally synthesis and testing.

A Media Snippet accompanying this announcement is available by clicking on this link:

AI Custom Models for Low Flammability Polymer Composites: Creating AI Custom Models for Low Flammability Polymer Composites using Customer's Proprietary Data

Huan Tran, Director of Research Innovation for Matmerize stated, “This collaboration signifies a major achievement in the pursuit of safer, lower-flammability polymer composites. We take great pride in spearheading the development of cutting-edge AI-driven solutions for low-flammability composite materials that not only meet rigorous ASTM testing standards but also address the vital safety requirements mandated for our Navy ships.“

At the heart of Matmerize’s innovation lies PolymRize™, their flagship product – a cloud-based Polymer Informatics software platform meticulously crafted to expedite the advancement of polymers, composites, and formulations. The DOD SBIR aligns perfectly with Matmerize’s core mission to unlock the immense potential of AI in advanced materials engineering to address critical challenges and improve functionality, fire safety and sustainability. Both the DOD and the NSF SBIRs come at an opportune time and will jointly propel and advance the AI-based PolymRize™ technology in a synergistic manner.

Chiho Kim, CTO at Matmerize expressed his enthusiasm by stating “The two concurrent SBIR awards granted by DOD and NSF, represent a resounding endorsement of Matmerize’s pioneering Polymer Informatics platform PolymRize™. These contracts will provide us the resources and support needed to further advance our AI based PolymRize™ platform.”

For more information on the innovative PolymRize™ platform please visit: https://www.matmerize.com/polymrize

About Matmerize:
Matmerize, Inc. is a recent spin-out from the Georgia Institute of Technology and was founded by Dr. Rampi Ramprasad and Dr. Chiho Kim. Matmerize is a leading innovator at the intersection of advanced materials engineering and artificial intelligence. With a mission to revolutionize fire safety and sustainability through AI technology, we are committed to pushing the boundaries of what is possible. Our dedicated team of experts strives to create solutions that positively impact new material development while minimizing the environmental footprint.

For further information, inquiries, or media contact, please reach out to:

Matmerize, Inc.
https://www.matmerize.com
E: info@matmerize.com
Y: Watch Matmerize Videos on YouTube
L: Follow our LinkedIn Page

GlobeNewswire Distribution ID 8974273

Pacific Green Enters Into Transaction to Sell Its 249MW / 373.5MWh Sheaf Energy Park Battery Development for an Enterprise Value of £210 Million (US$258 Million)

Dover, DE, Nov. 07, 2023 (GLOBE NEWSWIRE) — Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) announces that it has entered into a transaction to sell 100% of the shares in Pacific Green Battery Energy Parks 2 Limited (“PGBEP2”) to Sosteneo Fund 1 HoldCo S.à.r.l. (“Sosteneo HoldCo”) for £210 million (US$258 million) (the “Transaction”). PGBEP2 […]

Dover, DE, Nov. 07, 2023 (GLOBE NEWSWIRE) — Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) announces that it has entered into a transaction to sell 100% of the shares in Pacific Green Battery Energy Parks 2 Limited (“PGBEP2”) to Sosteneo Fund 1 HoldCo S.à.r.l. (“Sosteneo HoldCo”) for £210 million (US$258 million) (the “Transaction”).

PGBEP2 is the holding company for 100% subsidiary, Sheaf Energy Limited, Pacific Green’s 249 MW / 373.5 MWh battery energy storage system in Kent, England (“Sheaf Energy Park”), which will begin commercial operations in July 2025.

Sosteneo HoldCo is an investment vehicle for the Sosteneo Energy Transition Fund, managed by Sosteneo SGR S.p.A. (“Sosteneo”), a specialist manager of greenfield infrastructure projects related to the energy transition and part of the Generali ecosystem of asset management firms.

Under the terms of the Transaction, Pacific Green and Sosteneo have granted each other respective options to buy or sell the shares in PGBEP2.

As part of the Transaction, Sosteneo will provide a capital expenditure loan, which together with the senior debt facility, will fully fund the development and construction of Sheaf Energy Park.

About Pacific Green Technologies, Inc.:

Pacific Green is focused on addressing the world’s need for cleaner and more sustainable energy. Pacific Green offers Battery Energy Storage Systems and Concentrated Solar Power to complement its environmental technologies division. Pacific Green has offices in the USA, Canada, United Kingdom, Australia, Saudi Arabia and China.

For more information, visit Pacific Green’s website:
www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of Sheaf Energy Park, the continuation of the Transaction, any potential business developments and future interest in Pacific Green’s battery, solar and environmental technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of Sheaf Energy Park, the continuation of the Transaction and general economic and political conditions. These forward-looking statements are made as of the date of this news release, and Pacific Green assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pacific Green believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in Pacific Green’s annual report on Form 10-K for the most recent fiscal year, Pacific Green’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

GlobeNewswire Distribution ID 8974156

ROSEN, LEADING TRIAL ATTORNEYS, Encourages Waldencast plc Investors to Inquire About Securities Class Action Investigation – WALD, WALDW

NEW YORK, Nov. 07, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Waldencast PLC (NASDAQ: WALD, WALDW) resulting from allegations that Waldencast may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Waldencast securities […]

NEW YORK, Nov. 07, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Waldencast PLC (NASDAQ: WALD, WALDW) resulting from allegations that Waldencast may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Waldencast securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=18362 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On July 5, 2023, after the market closed, Waldencast filed a current report with the SEC in which it disclosed, among other things that certain financial statements of Obagi, a company that it had acquired, could no longer be relied upon because Waldencast expected to restate those financial statements.

On this news, the price of Waldencast stock fell $0.76, or 10.2%, to close at $6.63 on July 6, 2023.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8973764

Quantexa Launches New Asia Pacific Headquarters in Singapore to Capture Next Wave of Growth

Quantexa’s growing presence in Singapore represents significant investment in delivering AI-enabled Decision Intelligence (DI) solutions to Enterprises and Government Agencies across Asia Pacific Quantexa has seen double-digit growth and tripled employee base in Asia Pacific region since Series D announcement in 2022 The new location in Singapore reinforces Quantexa’s global network and brings the company […]

  • Quantexa’s growing presence in Singapore represents significant investment in delivering AI-enabled Decision Intelligence (DI) solutions to Enterprises and Government Agencies across Asia Pacific
  • Quantexa has seen double-digit growth and tripled employee base in Asia Pacific region since Series D announcement in 2022
  • The new location in Singapore reinforces Quantexa’s global network and brings the company closer to its clients and partners in the region

SINGAPORE, Nov. 07, 2023 (GLOBE NEWSWIRE) — Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, today announced the opening of its new Asia Pacific Headquarters based in Tower 1 of Marina Bay Financial Centre (MBFC) in Singapore. The opening is part of a broader regional expansion plan and follows the July 2023 launch of Quantexa’s Japan operations in Tokyo and long-standing presence in Melbourne, Sydney and Malaysia. Further expansion into Hong Kong is expected in 2024.

The organization’s decision to set up its regional headquarters in Singapore was solidified by the country’s commitment to attracting investment, talent, and technology. Establishing Quantexa’s new office locally complements the government’s Smart Nation initiative which outlines its plan to invest up to SGD500 million in Artificial Intelligence (AI) research and development.

Economic forecasts for Southeast Asia predict that it will remain one of the fastest growing regions for years to come. Additionally, over the past 12 months, Quantexa has seen significant demand in the region as local banks and government agencies put an increased emphasis on detecting and preventing financial crime as the number of large-scale money laundering operations in region have risen, costing victims abroad billions of dollars[1]. Recently, Singapore authorities have taken measures to ensure that financial institutions scrutinise monetary flows with city state managed assets valued at USD4 trillion[2].

Quantexa’s regional headquarters will provide sales, marketing, product management, and professional services capabilities to support customer implementations of its Decision Intelligence Platform in the banking, insurance and telecommunications industries, as well as the public sector. The opening comes after Quantexa recently completed its Series E Funding Round led by GIC Singapore, valuing the company north of $1.8 billion, and announcing a $155 million investment to fuel global artificial intelligence advancements.

Today, Quantexa will host an event to showcase local technology innovation and partnerships at The National Museum of Singapore. Quantexa CEO Vishal Marria will be joined by esteemed industry leaders from GIC, Singapore’s Digital and Intelligence Service (DIS), and Standard Chartered Bank for a panel discussion on “Charting New Pathways for AI Innovation.”

Vishal Marria, CEO and Founder, Quantexa, said: “Quantexa has seen 90% revenue growth and we have nearly tripled our team size in the Asia Pacific region since our Series D announcement. With today’s announcement of our new regional headquarters in Singapore, we continue to accelerate our growth plans and get closer to our clients and partners as we serve the region.”

Choo Yong Cheen, Chief Investment Officer of Private Equity, GIC, said: “We are pleased to see Quantexa establish their new regional headquarters in Singapore as part of their expansion efforts in Asia. As Quantexa continues to benefit from increasing regulatory emphasis on compliance and demand for AI capabilities in data management, we remain confident in the company’s growth potential.”

Jinghua Guo, Chief Digitization Officer, The Digital and Intelligence Service, added: “The Digital and Intelligence Service views AI as a mission-critical capability for the Singapore Armed Forces to safeguard the sovereignty and security of Singapore. We have always worked closely with other technology partners in government to build cutting-edge AI capabilities for defence. But beyond this, we need to harness the rapid innovations from commercial companies as part of our AI portfolio to address our operational needs more effectively. Therefore, we are interested to further explore how cutting-edge solutions from technology leaders like Quantexa can help us succeed in our mission.”

Sean Coppinger, CIO, Standard Chartered Bank, said: “We are thrilled that Quantexa is expanding its presence here. Since 2018, we have worked closely with Quantexa to use AI-enabled data matching capabilities to get a complete view of our customers and their transaction networks. This has helped us raise the bar on how the industry detects fraud and fights financial crime.”

The Singapore Headquarters joins a growing portfolio of Quantexa hubs including London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.

Quantexa’s Asia Pacific team is expanding and is actively recruiting several open positions. To find out more about current vacancies, visit this page.

Note to Editors:

For more information on Quantexa, please visit the website here.

Media Inquiries:

C: Alina Boey, Senior Consultant, Milk & Honey PR

T: +65 96565580

E: alinab@milkandhoneypr.com

About Quantexa   

Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 675 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, Dublin, Brussels, Malaga, UAE, New York, Boston, Toronto, Sydney, Melbourne, and Tokyo.

About GIC

GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long- term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,100 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.

[1] Source: Nikkei Asia article – Singapore stands out as a global tech hub amid U.S.-China tensions

[2] Source: South China Morning Post article – Singapore readies roll out of anti-money-laundering platform to prevent a 1MDB repeat

GlobeNewswire Distribution ID 1000898055

Lahore District Ranks Way Below Than Expected in Punjab’s Latest School Rankings

Lahore, among the 36 districts in Punjab, has secured the 29th position in the recent ranking, which evaluates the quality of arrangements and facilities in government schools.Dera Ghazi Khan, Attock, and Nankana Sahib have claimed the top spots in Pun…

Lahore, among the 36 districts in Punjab, has secured the 29th position in the recent ranking, which evaluates the quality of arrangements and facilities in government schools.

Dera Ghazi Khan, Attock, and Nankana Sahib have claimed the top spots in Punjab’s school ranking.

Lahore’s position at 29th is a reflection of the performance of both teachers and students in government schools. The rankings are determined by different factors including teacher and student attendance.

In this ranking, other districts include Bakhar at 36th, Sahiwal at 35th, Faisalabad at 18th, Gujarat at 23rd, Toba Tek Singh at 26th, and Chiniot at 27th.

The assessment also covers various aspects of the school environment, including the condition of walls, washrooms, water supply, and furniture.

The performance reports for all 36 districts in Punjab have been forwarded to the Punjab Education Department for their review.

Source: Pro Pakistani

Babar Azam Takes a Swing at Golf Ahead of Training for Last World Cup Group Match

Pakistan cricket team captain Babar Azam, along with a few coaches, took some time off from their demanding ICC World Cup 2023 schedule to relax and enjoy a round of golf at a Kolkata golf course.According to the details, the Pakistan skipper participa…

Pakistan cricket team captain Babar Azam, along with a few coaches, took some time off from their demanding ICC World Cup 2023 schedule to relax and enjoy a round of golf at a Kolkata golf course.

According to the details, the Pakistan skipper participated in golf activities alongside head coach Grant Bradburn, bowling coach Morne Morkel, and Andrew Puttick.

The Pakistan cricket team will commence their training sessions tomorrow, with the first session scheduled to start at 2 PM local time. This training is in preparation for their upcoming match against England.

As the Men in Green prepare to take on England, Shadab Khan and fast bowler Haris Rauf will both be eligible for consideration for the team selection.

It should be noted that Haris Rauf underwent medical evaluation at a Kolkata-based hospital due to rib pain, while Shadab Khan sustained a concussion injury.

Furthermore, there is encouraging information concerning the progress of Shadab Khan’s recovery. His rehabilitation is advancing positively, and his condition will be assessed further during the training session planned for tomorrow.

Pakistan, currently fifth on the points table, must win against England in Kolkata on November 11. They also hope for Sri Lanka to defeat the Black Caps in Bengaluru on November 9 and for Afghanistan to lose at least one of their remaining matches against Australia and South Africa, or both, as they have the same 8 points despite playing one less match.

Source: Pro Pakistani

SECP Proposes Amendments to Insurance Framework for Recording Advance Tax

The Securities and Exchange Commission of Pakistan (SECP), to provide the manner of recording advance/withholding tax in the books of life insurance companies as well as management of investment in government securities by life insurance companies, has…

The Securities and Exchange Commission of Pakistan (SECP), to provide the manner of recording advance/withholding tax in the books of life insurance companies as well as management of investment in government securities by life insurance companies, has proposed amendments in the regulatory framework for insurance companies.

The SRO 1514(I)/2023 and SRO 1516(I)/2023, proposing amendments to the Insurance Rules, 2017 and the Insurance Accounting Regulations, 2017, respectively, have been placed on SECP’s website.

As per the existing framework, life insurance companies are required to hold a specified percentage of government securities against the advance/withholding tax, which has an impact on the liquidity position of insurance companies.

The proposed amendments aim to ease the burden on life insurance companies through the withdrawal of the requirements of holding a specified percentage of government securities against the advance/withholding tax and bring standardization to the procedure for recording advance /withholding tax.

All stakeholders and other interested parties may submit their feedback and suggestions within thirty days of the issuance of SROs.

Source: Pro Pakistani

Price of Gold in Pakistan Falls Slightly to Rs. 214,000 Per Tola

The price of gold in Pakistan registered a decrease of Rs. 200 per tola to close at Rs. 214,000 per tola.According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) fell by Rs. 200 per tola t…

The price of gold in Pakistan registered a decrease of Rs. 200 per tola to close at Rs. 214,000 per tola.

According to the data released by the All-Pakistan Gems and Jewellers Association (APGJA), the price of gold (24 carats) fell by Rs. 200 per tola to Rs. 214,000 while the price of 10 grams registered a decline of Rs. 171 to close at Rs. 183,477.

On Monday, the price of gold fell by Rs. 400 per tola. This means that the price of gold has fallen by Rs. 600 per tola in the last two days despite the depreciation of the Pakistani rupee against the US dollar primarily because of a decline in gold prices in the international market.

In the international market, spot gold declined by 0.5 percent to $1,968.30 per ounce by 0717 GMT, while the US gold futures fell by 0.7 percent to $1,974.20.

Last week, the price of gold in Pakistan registered an increase of over Rs. 3,000 per tola.

Source: Pro Pakistani

FBR Issues New Customs Values on Import of Glassware

The Directorate General of Customs Valuation, Karachi has issued new customs values on the import of glassware/porcelain ware from China, Iran, UAE, Thailand, Egypt, Korea, and Indonesia for accurate assessment of duties and taxes.In this regard, the d…

The Directorate General of Customs Valuation, Karachi has issued new customs values on the import of glassware/porcelain ware from China, Iran, UAE, Thailand, Egypt, Korea, and Indonesia for accurate assessment of duties and taxes.

In this regard, the directorate has issued a valuation ruling 1823 of 2023, here on Tuesday.

Earlier, the Customs values of glassware/Porcelain Ware were determined to vide valuation ruling 1774 of 2023. The importers filed review petitions, but the said valuation ruling was upheld by the directorate, negating the stance of the complainants. Thereafter, the importers filed an appeal against the subject Order-in-Revision before the Customs Appellate Tribunal that set aside the impugned Valuation Ruling and the Order-in Revision by the Director General of Customs Valuation.

As there was no Valuation Ruling in the field after the Tribunal’s order, this directorate initiated an exercise for re[1]determination of Customs values of subject goods under Section 25A of the Customs Act, 1959 based on an analysis of import data and changes in international market trends.

The issues pertaining to the valuation of subject goods were deliberated upon in detail in the relevant meeting. The importers argued that the customs values of subject goods determined vide the aforementioned valuation ruling subject goods were exorbitantly high which were not acceptable to the importers.

They opined that their declared values are actual transactional values and, therefore, should be considered for re-determination of Customs values. Some of the importers submitted their export GDs, invoices, and BLs to corroborate their stance.

Importers also claimed that the local manufacturer had announced a 40% discount on their products when the aforementioned VR was set aside which points towards the lower value of instant goods. The importers were asked to provide evidence of this discount but they failed to do the same. They also submitted that the aspect of reduced freight rates from China should also be considered at the time ‘of re-determination of Customs values of subject goods.

The participants engaged in the import of subject goods from Turkey recorded their grievances over the inordinately high increase in the customs value of subject goods of Turkish origin in the aforementioned VR and requested rationalizing the same. The viewpoints of importers were heard in detail and were evaluated to arrive at the Customs values of the subject goods.

The viewpoints of importers were analyzed in detail. The scrutiny of clearance data has revealed that after the issuance of the last valuation ruling, the importers have cleared the subject goods as per the said valuation ruling in more than five hundred (500) Goods Declarations (GDs). Resultantly, 90-day data contained significant evidence of clearances as per the last Valuation Ruling. As pointed out by the importers, freight rates have shown a downward trend since the issuance of the previous VR.

For further (comparative) analysis, an international publication on China’s Ceramic Tableware Export, (2023-2022), issued by China Research and Intelligence Co. Ltd, was accessed which reflected that the average export price of China’s Porcelain Tableware has increased from US$ 2.7/kg (2018) to U$3.9/kg (2022). In this publication, export values of porcelain Tableware (from China to a number of other countries) are given.

Customs values., for Glass, Ware Porcelain ‘Ware-hereinafter specified shall be assessed to duty/taxes on the Customs values mentioned against them in the Table below: (no table shared)

Source: Pro Pakistani