Issue link: https://maltatoday.uberflip.com/i/1044434
THOMAS Smith's specialised freight and logistics transport services have now reached new territories, by expanding their existing groupage route to a wider network in the Far East. Together with trailer services operating from Eu- ropean destinations, Thomas Smith now has a hub in Sin- gapore to cater for clients' growing shipping needs. Thomas Smith is now able to offer clients groupage servic- es to Malta through the Indi- an Ocean and the Middle East shipping routes. Through this avenue, extensive alternatives have been made available for cargo imports originating from Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, Philippines, Singa- pore, South Korea, Sri Lanka, Taiwan, Thailand, Vietnam and the United Arab Emir- ates. Merchandise from all the above territories is con- solidated through Thomas Smith's hub in Singapore, with a 16-day transit time, with an average of 30 days conveyance from all 17 desti- nations. The Far East groupage route was introduced to ensure customers get the best ship- ping service, irrespective from where cargo is import- ed. Thomas Smith will handle imports of various commodi- ty types, excluding hazardous and temperature-sensitive products. Cargo from Far East routes will be consolidated weekly and placed on the first vessel from the Singapore hub to set sail directly to Malta within the fastest timeframe. Thom- as Smith representatives will offer the best guidance based on client requests and time- lines, in light of time-sensi- tive deadlines. With an array of approved international partners, gath- ered along years of operations in the shipping field, Thomas Smith promises its new route will match the rapid handling and qualified service offered through all the company's current freight services. For a complete solution to your logistics business, con- tact our Business Develop- ment manager on 2205 8134. Thomas Smith Group is one of the longest established ser- vice group of companies on the island, specialising in in- ternational shipping services and insurance. The Group holds a lead- ing market position in most shipping-related services, namely port agency, freight forwarding, project cargo, logistics, reefer cargo, air- freight, express services, groupage, trailers and full load containers. maltatoday | SUNDAY • 28 OCTOBER 2018 BUSINESS & INNOVATION B6 Thomas Smith introduces Far East container groupage service THE MFSA has published Chapter 1 of the Virtual Financial Assets Rulebook: Virtual Financial Assets Rules for VFA Agents; a Glossary of Terms; and a Circular on the Competence Assessment of pro- spective VFA Agents. The publication of the rules ap- plicable to VFA Agents follows two main consultations, namely the Consultation Paper on the Virtual Financial Assets Rules for VFA Agents and the Consultation Paper on raising the bar for VFA Agents, that were issued on 12 July 2018 and 4 September 2018, re- spectively. The rules place heavy emphasis on the level of competence that prospective VFA Agents are re- quired to have, both in terms of the traditional financial services framework as well as the regula- tory framework developed under the Virtual Financial Assets Act. The latter, together with the due diligence systems and controls in place to enable the prospective VFA Agents to conduct thorough and effective fitness and proper- ness assessments on clients, will impinge heavily on whether an ap- plication for registration as VFA Agent is accepted by the MFSA or otherwise. The MFSA shall be issuing fur- ther information and guidance on the application process applicable to persons wishing to seek reg- istration as VFA Agents in early course. Further updates and develop- ments on the Virtual Financial As- sets Framework will be made pub- lic on: www.mfsa.com.mt/vfa. Publication of the Virtual Financial Assets rules for VFA agents