Legal & Law News
FPT reports robust 3QFY2025 earnings with 90% net profit boost from land sales in Thailand and Vietnam
Frasers Property (Thailand) Public Company Limited or “FPT” announced its operating results for the first nine months of FY2025 (October 2024 – June 2025). FPT generated total revenue of THB 10,336 million, a decrease of THB 81 million or 0.8% compared to the same period last year. It reported a 9MFY2025 net profit of THB 1,196 million, an increase of THB 369 million or 44.6% year-on-year (Y-o-Y). For 3QFY2025 (April – June 2025), revenue was THB 4,038 million, an increase of THB 212 million or 5.5% Y-o-Y, while net profit surged by THB 307 million or 90.6% Y-o-Y to THB 646 million. Mr. Thanapol Sirithanachai, Country Chief Executive Officer of FPT, said, “The company achieved strong growth in both revenue and profit in 3QFY2025. This was driven by effective asset management across its portfolio, rigorous cost control and prudent capital management to maintain stability and liquidity, all under a flexible strategy to navigate the ongoing economic slowdown.” The Residential Business launched three new projects with a combined value of THB 4,200 million in prime locations in Bangkok and other provinces. These include Goldina Sukhumvit– Bearing, a new premium townhome brand located in Bangkok’s East Business District (EBD), and two luxury single-detached housing projects: Grandio Khon Kaen–Mittraphap in Khon Kaen and Grandio Korat–Terminal in Nakhon Ratchasima. Despite the challenging market conditions, the company achieved pre-sales of over THB 1,000 million across all three projects in just two days after launch. For 4QFY2025 (July – September 2025), FPT plans to launch two additional projects worth over THB 3,600 million. The Industrial Business achieved a record-high average occupancy rate of 93% across its portfolio in Thailand and overseas. This was primarily driven by increased demand for factories and warehouses from the relocation of manufacturing bases to Southeast Asia, particularly Thailand, Indonesia, and Vietnam. In 3QFY2025, the company delivered approximately 24,000 sqm of warehouse facilities to e-commerce customers in Vietnam. Moreover, FPT recorded a gain of THB 400 million from land sales in both Thailand and Vietnam, aligning with its strategy to optimise land use. The Commercial Business recorded higher revenue due to increased rental rates from new contract renewals for office buildings and retail spaces. The company has maintained a high occupancy rate of 91%. However, the hotel business experienced a decline in revenue due to the reduced number of Chinese tourists visiting Thailand and the earthquake in late March. Comparison of financial results for a 9-month period (October 2024 – June 2025) Financial performance for the third fiscal quarter (April – June 2025) END About Frasers Property (Thailand) Public Company Limited Frasers Property (Thailand) Public Company Limited (“FPT”), a subsidiary of Frasers Property Group is a leading integrated real estate platform with multi-asset class expertise. FPT’s platform consists of 1) Residential business: developing high-quality housing projects comprising single-detached homes, townhomes, and condominiums in various locations with different segments; 2) Industrial business: leasing ready-built factories and rental warehouse spaces located in strategic industrial and logistics locations throughout Thailand; and 3) Commercial business: managing Grade A office and retail spaces as well as hospitality services, located in Bangkok’s central business district. FPT is also the sponsor and manager of Thailand’s largest industrial REIT, Frasers Property Thailand Industrial Freehold & Leasehold REIT (“FTREIT”), which is focused on industrial and logistics properties in Thailand, while GOLD is a sponsor and property manager of Golden Ventures Leasehold Real Estate Investment Trust (“GVREIT”), a REIT focused on commercial properties. FPT, FTREIT and GVREIT are listed on the Stock Exchange of Thailand. For more information on FPT, please visit: frasersproperty.co.th. About Frasers Property Limited Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Frasers Property Group” or the “Group”), is a multinational investor-developer-manager of real estate products and services. Listed on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) and headquartered in Singapore, the Group has total assets of approximately S$38.9 billion as at 31 March 2025. Frasers Property's multinational businesses operate across five asset classes, namely, commercial & business parks, hospitality, industrial & logistics, residential and retail. The Group has businesses in Southeast Asia, Australia, the EU, the UK and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in 20 countries across Asia, Australia, Europe, the Middle East and Africa. Frasers Property is also the sponsor of two real estate investment trusts (“REITs”) and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties. The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on its people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It is committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and are invested in promoting a progressive, collaborative and respectful culture. For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn. FOR MEDIA QUERIES, PLEASE CONTACT Frasers Property (Thailand) Public Company Limited Panchalee Phimonwong / Pornswan Wutthirakkhajohn T +66 2-483-0492 / +66 2-483-0493 E [email protected] / [email protected]
Bangkok Airways Launches Special Sneaker "Bangkok Airways x PUMA" Transforming Frontline Uniforms
Thai Union Reports Record-High Gross Profit Margin of 19.7%, 18% Growth in Earnings per Share in Q2 and Strategic Partnership with Mitsubishi Corporation
AWC Reports Strong Q2/2025 Growth with Net Profit of THB 1,404 Million, Up 12.7% YoY, Launches “Jurassic World: The Experience” to Strengthen Thailand’s Position as a Sustainable Tourism Destination
- August 12, 2025Business
Indorama Ventures reaches 150 billion PET bottles recycling milestone, advancing circular economy across global operations
Indorama Ventures Public Company Limited, a global sustainable chemical company, today announced it has recycled more than 150 billion post-consumer PET bottles since 2011. This significant milestone underscores the company’s long-term commitment to circular economy practices and its sustained investment in global recycling infrastructure. With more than 20 recycling facilities across 11 countries, supported by strong business partnerships and optimized operations, Indorama Ventures collectively recycles 789 bottles every second1 — transforming used PET into high-quality recycled PET (rPET) resins and other circular materials. These are used across various industries globally, supporting Indorama Ventures and its customers in achieving their sustainability goals. Since beginning its recycling journey in 2011, Indorama Ventures has meaningfully accelerated its impact. The company reached its first major milestone of 50 billion bottles recycled in March 2020 and doubled that figure to 100 billion bottles in 2023, just three and a half years later. Now the company has reached the 150 billion mark which reflects both growing global demand for recycled content and the company’s strategic investments in infrastructure, partnerships, and innovation to scale up recycling at speed. Yash Lohia, Executive President of Petchem and Chairman of the ESG Council, said, “Recycling 150 billion PET bottles is more than a milestone — it reflects the power of people, purpose, and technology driving scalable, sustainable impact. We’re grateful to our consumers, customers, and partners who make this progress possible. This achievement reinforces the value of long-term thinking, strategic investment, and collaboration as we lead the shift toward a circular economy. We’re proud of how far we’ve come—and are committed to going further.” Beyond the positive benefits of recycling and reusing PET, this milestone also delivers measurable environmental and social impact. By recycling 150 billion PET bottles, Indorama Ventures has helped avoid an estimated 3.8 million tons of CO₂ emissions over the product lifecycle and diverted 2.8 million tons of plastic waste from landfills and the environment. This achievement is rooted in Indorama Ventures’ integrated and scalable approach to circularity, anchored in three core pillars: education, collection, and innovation. Through its recycling education initiative, Waste Hero program, the company has educated close to 1 million people in schools and communities worldwide ahead of the 2030 target, empowering individuals to make informed choices and driving long-term behavioral change in recycling. By partnering with a wide network of collection organizations, Indorama Ventures ensures a consistent supply of high-quality post-consumer PET, supporting the integrity of circular supply chains. In parallel, the company works with leading technology providers to deploy advanced recycling solutions that improve processing efficiency and reduce environmental impact. As global demand for recycled materials grows, Indorama Ventures reaffirms its commitment to expanding recycling capacity, investing in innovation, and working with stakeholders across the value chain to accelerate the shift toward a circular economy. *The 150 billion PET bottles figure uses an average weight** and an overall height of on-the-go PET water and soda bottles, equivalent to the volume recycled at Indorama Ventures recycling sites between February 2011 – August 2025. ** Weighting shall be referenced to The International Bottled Water Association. 1 As of 5 August, 2025
- August 11, 2025Technology
Asia’s Data Centre Water Crisis: Act Now or Face Digital Blackouts
The rapid expansion of high-performance data centres across Asia is intensifying a critical water crisis in host countries, driven by the substantial water consumption required for cooling these facilities. Cooling systems in data centres can account for up to one quarter of their total water use, and with Asia Pacific’s data centre water consumption projected to grow from approximately 0.92 trillion litres in 2025 to 1.7 trillion litres by 2030, the sustainability challenge grows more severe. These demands often fall in regions where water supplies are already stretched thin, amplifying competition with agricultural, industrial, and municipal users. This challenge is acute across Southeast Asia beyond Malaysia. In countries such as Singapore, Thailand, and the Philippines, major data centre hubs, are grappling with similar water stress issues brought about by the booming digital economy. Water-intensive cooling systems in these facilities exacerbate the scarcity in climates already vulnerable to droughts, fluctuating rainfall, and competing societal needs. The problem is compounded by the region’s ongoing reliance on fossil-fuel-based energy generation, which also demands significant water resources, further intensifying local water-energy nexus pressures. Within Malaysia, Johor and Cyberjaya have been the default and preferred locations for high computing power data centres due to their strategic connectivity and developed infrastructure. However, these sites are increasingly unable to cope with growing water-cooling requirements. Johor, hosting the lion’s share of data centres in the southern peninsula, faces stiff competition for scarce water among industrial, municipal, and agricultural users, with many data centre water applications denied due to public water supply risks. Cyberjaya, although a technology hub, sits within a water-stressed basin where urban expansion and data centre water demand further strain its limited freshwater availability. In fact, Malaysia’s National Water Services Commission has reportedly approved less than 18% of water requests from the 101 data centres operating across Johor, Selangor, and Negeri Sembilan, underscoring the infrastructural and regulatory hurdles tied to this water crisis. These constraints threaten the feasibility of continued data centre expansion in Johor and Cyberjaya, particularly for those requiring high-density computing power with correspondingly high cooling needs. By contrast, Tanjong Malim offers a compelling and sustainable alternative. The region benefits from a more abundant and stable water supply infrastructure, including access to river water and critical onsite water recycling and reuse capabilities. These attributes substantially reduce dependency on freshwater—a decisive advantage given the millions of litres per year that traditional data centre cooling consumes. Beyond water, Tanjong Malim’s significant potential for onsite renewable energy generation, especially solar, distinguishes it from Johor and Cyberjaya, which largely rely on grid electricity typically linked to water-intensive thermal power plants. Central to this vision is the Sungai Samak Estate, a prime landholding totalling over 376 acres spread across five contiguous parcels just minutes from Tanjong Malim town. This estate uniquely positions itself to spearhead the region’s transformation into a holistic technology hub, integrating advanced data centres, renewable energy generation, and sustainable water management systems. Its access to river water combined with state-of-the-art water recycling infrastructure ensures a resilient and sustainable water supply capable of meeting the intensive cooling demands of next-generation facilities, as detailed in the Sungai Samak Estate development and further explored in the Tech Goldmine report . The urgency of adopting such sustainable locations is supported by empirical data highlighting the near doubling of Asia-Pacific data centre water consumption within five years, driven by accelerating AI and cloud computing workloads requiring dense computational power and liquid cooling systems. Regulatory bodies now increasingly enforce Water Usage Effectiveness (WUE) disclosures and tie financial incentives to achieving ambitious water efficiency targets, which makes sustainable water sourcing critical for operational licenses and investor confidence. Tanjong Malim also supports advanced cooling innovations such as liquid cooling and hybrid systems that reduce energy use by 20-30% and facilitate shifting toward lower freshwater consumption via onsite recycling and reuse. This flexibility contrasts markedly with Johor and Cyberjaya, where constrained water availability limits sustainable growth opportunities. In summary, while Johor and Cyberjaya have been instrumental in Malaysia’s digital infrastructure development, their mounting water resource limitations hinder their ability to meet the escalating demands of high-powered data centres. Southeast Asia’s broader water crisis among data centre host countries underscores the urgency of this issue. Tanjong Malim’s natural water resource base, combined with integrated renewable energy and access to the Sungai Samak Estate’s prime lands, presents Malaysia’s most viable and sustainable path forward for building a next-generation data centre hub. This model not only fulfils Asia’s surging digital infrastructure needs but also reflects a responsible commitment to environmental and social sustainability, as demonstrated through projects at Sungai Samak Estate and illuminated in the Tech Goldmine analysis.
- August 11, 2025Science
Breaking Boundaries in Stroke Imaging: The World’s First Clinical CT with a Curved Detector
When we set out to design the Micro-X Head CT , our goal was simple: to bring stroke diagnosis to patients faster, whether in an ambulance, a rural clinic, or a hospital emergency bay. But achieving this meant rethinking how CT scanners work at a fundamental level. In conventional CT scanners, flat-panel detectors rotate around the patient on large gantries. These systems are incredibly effective but they’re also heavy, expensive, and mechanically complex. That makes them impractical for mobile environments where space, weight, and speed are critical. To build a system compact and lightweight enough for stroke diagnosis on the move, we needed to do something never done before: create a curved detector. Why Curved Matters With a curved detector, we could achieve wide angular coverage using a fixed gantry.That meant we could eliminate the need for heavy rotating parts while still capturing high-quality projection images from multiple angles. It was a breakthrough in reducing size, weight, and power requirements, making the Head CT faster, lighter, and more portable. But here’s the catch: there are no off-the-shelf curved X-ray detectors suitable for clinical CT imaging. Curved detectors have been explored in research or industrial uses (like inspecting pipelines), but not in medical imaging. So, we had to build one from scratch. Head CT under development Partnering for Innovation We partnered with FUJIFILM to co-develop a custom solution, leveraging their flexible scintillator substrate - the same material they use in their flat panel detectors. Our team worked closely with theirs to overlap two scintillators into a seamless curved array, paired with a dynamic readout system capable of capturing multiple exposures rapidly. This was crucial for integrating with our proprietary NEX technology and enabling fast reconstruction. With further refinement, we engineered a new version of the detector using FUJIFILM’s technology, redesigned by Micro-X to be even smaller and lighter to achieve a72% weight reduction from the initial prototype. That’s a huge win for mobility, especially when every gram counts in a portable CT system. Solving the Complex Challenges Introducing a curved detector came with its own imaging and mechanical hurdles. Traditional reconstruction algorithms weren’t built to handle curved geometry, leading to inconsistencies and image artifacts. So we teamed up with Johns Hopkins University who are experts in computational imaging to develop new methods that solve these problems head-on. Combined with Micro-X’s NEX technology, which precisely controls X-ray sources without mechanical motion, we’ve built a system that can acquire multiple projection images in rapid succession, all without a rotating gantry. The Micro-X Head CT for stroke diagnosis includes a world-first curved detector A World-First Achievement To our knowledge, the Micro-X Head CT is the first CT scanner designed for clinical use to feature a curved detector. It’s a major technical milestone - not just for us, but for the future of portable medical imaging. As an engineer, it’s been incredibly rewarding to push the boundaries of what’s possible in medical imaging. But what’s most meaningful is knowing this technology will have a real-world impact — transforming how and where people receive life-saving stroke care.
- August 10, 2025Technology
TANJONG MALIM: MALAYSIA’S FUTUREPROOF AI DATA CENTRE POWERHOUSE
Tanjong Malim’s Case for Leading Malaysia’s AI Data Centre Expansion Global demand for artificial intelligence-ready computing capacity is on an explosive trajectory. McKinsey forecasts that AI workloads will drive up to 70 percent of data centre capacity demand by 2030, with average annual growth of 33 percent. These next‑generation facilities, hosting high‑density AI racks, require far more power, cooling capacity, and water security than traditional enterprise data centres. In Malaysia, the question is no longer whether to expand capacity — but where to build for the greatest long-term advantage. Southern Johor, for years the lead contender due to its proximity to Singapore, is now contending with the realities of rapid concentration: tightening grid headroom, increasing water tariffs, growing competition for land, and environmental pressures in key catchments. Industrial data from Jabatan Pengairan dan Saliran has already identified certain Johor river basins under rising abstraction stress, while Tenaga Nasional grid maps show congestion in high‑demand zones near existing hyperscale clusters. These factors could soon drive up operational expenditure and extend commissioning lead times for large AI‑grade builds, even when developers pair facilities with on‑site renewable energy generation. By contrast, Tanjong Malim in southern Perak offers a wide‑open canvas for the AI data centre era. Situated just over an hour from Kuala Lumpur by highway or electrified rail, it is directly tied into Malaysia’s national fibre backbone and supported by a stable, high‑capacity Perak grid zone. The region’s abundance of renewable water from the Perak and Bernam river systems, coupled with low industrial competition and favourable tariffs, provides a resource security profile that is becoming rare in Southeast Asia. Unlike Selangor and Penang, Perak has no recorded history of industrial water rationing, giving investors confidence over operational stability for 15‑ to 20‑year lifecycles. Just outside the town perimeter lies Sungai Samak Estate, a contiguous 376‑acre land bank divided into five prime industrial plots, uniquely suited to modern campus‑style development. The scale of the estate allows for phased buildout of AI‑ready data centres, each capable of delivering tens of megawatts of IT load, alongside a utility‑scale solar farm built on-site. At Malaysia’s average solar irradiance, such an installation could generate well over 100 MWp, offsetting a significant portion of daytime compute and cooling demand. This integration of renewable generation directly with high‑density AI compute is becoming a key differentiator in hyperscale sustainability planning, reducing dependence on the grid during peak demand windows and slashing Scope 2 emissions footprints. From an engineering perspective, the estate’s expansion potential is considerable. With high‑density AI workloads trending toward 30-50 kilowatts per rack, the total campus buildout could accommodate many thousands of liquid‑cooled AI racks while maintaining the power usage effectiveness standards now expected by hyperscalers. Hybrid evaporative-adiabatic cooling systems operating at 1.0 litre per kilowatt‑hour — considered best‑in‑class in humid climates — could be supplied sustainably from local water resources at tariffs far lower than Johor’s, stabilising cooling OPEX over decades. The availability of renewable water eliminates the looming risk faced by over‑clustered coastal hubs, where water stress could force costly retrofits to less efficient dry cooling. The combination of secure resources, major transport connectivity, and access to national fibre trunks positions Tanjong Malim to complement — and in certain AI verticals, surpass — Johor as a data infrastructure leader. While Johor will retain an edge for Singapore‑oriented workloads due to direct subsea cable access, the economics of AI model training and inference increasingly favour sites with abundant, low‑cost inputs and room for expansion. Large contiguous plots, like those at Sungai Samak Estate, offer precisely that — the space to build modular, high‑capacity facilities with integrated on‑site renewable generation. As global investors sift through Malaysia’s options, the pattern is clear: long‑run competitiveness in AI data centres will track most closely to resource resilience, predictable OPEX, and the ability to integrate renewables at scale. Tanjong Malim checks each of these boxes, and does so without the bottlenecks now emerging in Johor’s southern corridor. Further details on the Sungai Samak Estate’s configuration and development prospects can be found at sgsamak.com . Prospective stakeholders or technical partners can initiate discussions via the contact page , and a condensed sector briefing — including renewable integration scenarios and AI workload modelling — is available at bit.ly/Tech-Goldmine . In the end, the location debate is not about replacing Johor entirely. It is about balancing the nation’s AI‑era infrastructure between over‑concentrated hubs and resource‑secure zones that can grow without hitting environmental or cost ceilings. On that metric, Tanjong Malim stands out as Malaysia’s most compelling candidate for the next decade of AI data centre investment.
- August 8, 2025Business
Austal USA receives contract and commences construction on second Offshore Patrol Cutter for US Coast Guard
Austal Limited (ASX: ASB) is pleased to announce that Austal USA has received a contract option award from the United States Coast Guard (USCG) for the construction of the second Stage 2 Heritage-class Offshore Patrol Cutter (OPC) and the acquisition of long lead-time material to support construction of a third Stage 2 OPC. The US$273 million option is part of a contract that includes options for up to 11 OPC’s, with a potential value of US$3.3 billion. Construction of the second OPC, Icarus (WSMM 920), has commenced at the company’s Mobile, Alabama, shipbuilding facility. Austal Limited CEO Paddy Gregg said the OPC program is gathering momentum, with the option exercising the second OPC highlighting a unique build strategy that has included the optimisation of the hull design for the first vessel, Pickering (WSMM 919). “The Austal USA team have optimised the hull structure design of the first steel-hull OPC, Pickering, which will deliver a more efficient build process, a reduction in vessel weight and ultimately a longer vessel life expectancy,” Mr Gregg said. “Austal USA has also developed a new 3-D model of the OPC, that is enabling each vessel module manufactured in Mobile, Alabama to be completed to an industry-leading level of completion. The team are effectively setting new benchmarks for manufacturing productivity and efficiency with the OPC program.” The 110 metre OPC’s will provide the majority of the U.S. Coast Guard’s offshore presence, conducting a variety of missions including law enforcement, drug and migrant interdiction, and search and rescue. With a range of 10,200 nautical miles at 14 knots and a 60-day endurance period, each OPC will be capable of deploying independently or as part of task groups, serving as a mobile command and control platform for surge operations such as hurricane response, mass migration incidents and other events. The cutters will also support Arctic objectives by helping regulate and protect emerging commerce and energy exploration in Alaska. Including Icarus, Austal USA has seven ships currently under construction. A new final assembly building (FA2) that will be used to support the production of the OPC’s, is now under construction. When complete, the building will provide approximately 18,000 square metres of new covered manufacturing space. The building will consist of three bays, two of which are specifically designed to construct the OPC. This ASX announcement has been approved and authorised for release by Paddy Gregg, Austal Limited’s Chief Executive Officer. Austal USA has commenced construction of the second Offshore Patrol Cutter (OPC) for the United States Coast Guard – Icarus (WSMM 920) – at the Mobile, Alabama shipyard (Images: Austal USA) - ends - Media Contact: Cameron Morse, FTI Consulting +61 433 886 871 [email protected] Further Information Contact: Austal Phone: 61 8 9410 1111 Fax: 61 8 9410 2564 Email: [email protected]
- August 8, 2025Business
Family History Society Singleton launches book
Locals, visitors and historians can now enjoy a book about the history of the Singleton Fire Station, thanks to the literary hard work of Carol Garvie and the Family History Society of Singleton and a $4,000 donation from Yancoal Australia’s Mount Thorley Warkworth (MTW) operation. Written by Carol Garvie the book, “The Formation of the Singleton Volunteer Fire Brigade and Station 444” provides the community with a detailed account of the history of the Singleton Fire Station dating back to 1878, its members through the years, the challenges creating the team in the beginning and an overarching history of Singleton. The $4,000 worth of funding from MTW enabled the Family History Society of Singleton to bring the writing together, format and lay it out, and an initial publication run of 100 copies that are available for purchase. Lyn MacBain, President of the Family History Society of Singleton was very pleased to see Carol’s research project come to life. “We felt strongly about the fact that people with a connection to Singleton and the volunteer fire service would want to read and explore the book and reflect on the past. “The Singleton Volunteer Fire Brigade has offered a lot of value to the community over the years, establishing a strong bushfire brigade that still operates to this day. “The volunteer fire fighters are proud to donate their time to help protect and preserve our community. They regularly educate the community by hosting open days and visiting schools. The book will also be used as an educational resource for school children. “We are excited to launch and to create interest about the book. The funds raised from book sales will go towards the maintenance of the vintage fire engine and the Family History Society of Singleton. “Thanks to MTW for their financial assistance to get the book finalised and published. We hope it’s enjoyed by the people of Singleton for many years to come,” said Lyn. Books can be purchased from the Family History Society of Singleton by contacting 0408 985 267 or [email protected] or at the Society’s Library at 74 George Street, Singleton. Additionally, they are available directly through the Fire Station. The Family History Society of Singleton has been operating for over 40 years, assisting with the research of families throughout the district. It receives enquiries from all over the country and overseas regarding people looking for family members who were connected through Singleton at some stage of their life. Mount Thorley Warkworth General Manager, Cris Shadbolt, was delighted to help the society. “MTW has a long and proud history in Singleton, and we are pleased to support an initiative that aims to recognise and celebrate the rich history of one of our vital community organisations. “Volunteer fire brigades are an essential community service, helping people when they need them the most. We are happy our funding could help their value to the community be documented and acknowledged,” said Cris. The Mount Thorley Warkworth Community Support Program runs annually and is funded by Yancoal Australia, aiming to make a positive difference in the local community and to the lives of the people who work and live in the Hunter Valley. For over 20 years since 2004, Yancoal has grown to be one of Australia’s largest coal exporters: owning or operating eight producing mines across the country, employing almost 5,500 Australians, contributing to the national economy, and investing in regional communities. END Media contact: Tracy Woodley [email protected]
- August 7, 2025Business
Singapore’s Logistics Sector Remains Resilient and Attractive Amid Global Trade Uncertainty: CBRE Survey
Despite ongoing global trade uncertainty, 76% of logistics occupiers in the region plan to expand their real estate footprint over the next three to five years, according to CBRE’s 2025 Asia Pacific Logistics Occupier Survey. Within Southeast Asia, Singapore emerged as one of the key markets of interest, ranking second just behind Vietnam. This signals strong occupier confidence in the city-state’s long-term strategic value. The report, which gathered insights from over 380 companies across Asia Pacific between March and April 2025, indicates that cost is not the sole consideration for occupiers. In Singapore’s case, qualities such as its reliable operating environment, strong regional connectivity, and strategic positioning continue to resonate with logistics tenants navigating a complex global environment. “Singapore continues to draw global occupiers, thanks to its reputation as a strategically located, neutral, and stable logistics hub,” said Graeme Bolin, Head of Occupier and Leasing, Industrial & Logistics Services, Singapore, CBRE. “We’re seeing a three-pronged approach consisting of government-led infrastructure investments, expansion by top-tier logistics players, and robust capital flows into modern logistics assets. This synergy is reinforcing Singapore’s role in the global supply chain.” CBRE Research notes that this confidence is reflected in the market’s activity. Infrastructure enhancements such as the PSA Supply Chain Hub @ Tuas and Tuas Port are strengthening Singapore’s logistics capabilities, while recent facility launches by global players like DHL Supply Chain and DP World demonstrate continued occupier commitment. Investor interest remains strong, with capital flowing into modern logistics assets such as Sunview Hub and DSV Pearl, supporting the sector’s long-term growth. The report also highlights Singapore’s continued status as a major logistics hub, particularly for hi-tech manufacturing and life sciences sectors. An influx of new supply in 2025 is expected to create opportunities for occupiers to renegotiate leases and meet pent-up demand. Across Asia Pacific, logistics occupiers are looking beyond short-term market volatility and planning long-term investments. While 69% of respondents expect business performance to improve in the next two years (down from 81% in 2023), the overall sentiment reflects a more cautious near-term outlook amid ongoing trade policy uncertainty. Cost efficiency and strategic location selection have become top priorities. The survey found that 78% of respondents identified rent reduction as a key driver for relocation, while many are also seeking proximity to transportation hubs, customer bases, and supply chains to enhance operational efficiency. “CBRE’s analysis shows that real estate accounts for just 3 to 6% of the total logistics cost structure,” said Michael Bowens, Head of Industrial & Logistics Leasing, Asia Pacific, CBRE. “We advise occupiers to focus on total occupancy costs, not just face rent, when planning their real estate strategies. This comprehensive approach includes factors like transportation, labour availability, last-mile efficiency, and inventory management.” These regional trends are reflected in Singapore, where occupiers continue to prioritise strategic positioning and operational efficiency. The city-state’s reputation as a strategically located, neutral, and stable logistics hub remains a key differentiator amid shifting trade dynamics. To read the full report, click here . About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com .
- August 7, 2025Business
Jetstar celebrates first flight from Gold Coast to Bali with 24-hour flash sale
To celebrate new direct flights between the Gold Coast and Bali launching this evening, Jetstar is holding a 24-hour flash sale for Gold Coasters to take off to the popular Indonesian island for $215 one way^. The new route makes Jetstar the first low-cost carrier to operate non-stop flights between the Gold Coast and Bali – one of Australia’s favourite international holiday destinations. Sale fares are available from 10am today (AEST) at jetstar.com until sold out. Operating three times a week, the service will add more than 58,000 low fare seats between the Gold Coast and Bali each year. The flights are operated by Jetstar’s newest aircraft, the quieter and more fuel-efficient Airbus A320neo – two of which are now based on the Gold Coast, expanding Jetstar’s local fleet to six aircraft. The launch of direct flights to Bali comes as part of Jetstar’s June expansion of Gold Coast flying - including recently launched new routes to Hamilton, Dunedin and Darwin - and further strengthening the airline’s position as the largest carrier operating in and out of the Gold Coast. Jetstar’s Executive Manager, Customer, Jenn Armor, said the new route provided even more international choice for Gold Coast customers. “We’ve seen strong demand from customers living on the Gold Coast for direct international travel options including recent trans-Tasman route launches to Hamilton and Dunedin. “It’s clear Australians just can’t get enough of Bali, so we’re excited to launch direct flights from the Gold Coast to this beautiful Indonesian holiday island, allowing customers to take off more for less. “We’re already the biggest carrier on the Gold Coast and this new route is another key step in offering even more choice and low fares for our Gold Coast customers. Queensland Airports Limited Chief Commercial Officer Adam Rowe said the new route would provide greater choice for travellers on an already much-loved route. “Bali has long been a favourite destination for Australians, and now it’s even easier not just for Gold Coasters, but also for travellers from Northern New South Wales to escape to the island – whether it’s to catch an amazing surf break, unwind at a yoga retreat, or simply to recharge and enjoy Bali’s relaxed pace of life,” said Mr Rowe. “More than 70,000 people travel between the two destinations each year, which is why we’re excited to offer our community even more choice when planning their next holiday.” “We’re proud to work alongside Jetstar as they continue to invest in the Gold Coast. Together, we have a shared focus on growing our network to meet rising demand.” Flight schedule (01AUG-29MAR) Flight schedule (30MAR onwards) ^Sale ends 10am AEST Saturday 2 August 2025, unless sold out. Excludes checked bags. Prices based on payment by PayID, Jetstar voucher, Jetstar Gift Card, or bookings redeemed only in Qantas Points through jetstar.com. For other options, a Payment Fee applies. See jetstar.com/fees. Travel dates and other conditions apply.
- August 7, 2025Business
CICT’s 1H 2025 distribution per unit grows 3.5% to 5.62 cents
CapitaLand Integrated Commercial Trust (CICT or the Trust) today announced a distributable income growth of 12.4% year-on-year (y-o-y) to S$411.9 million for the six months ended 30 June 2025 (1H 2025), compared to S$366.5 million in 1H 2024. This increase is attributed to the income contribution from ION Orchard, which was acquired on 30 October 2024, better performance from existing properties and lower interest expenses, partially offset by the divestment of 21 Collyer Quay. CICT’s 1H 2025 distribution per unit (DPU) rose 3.5% to 5.62 cents, on an enlarged unit base compared to the 1H 2024 DPU. With the record date on Wednesday, 13 August 2025, CICT’s unitholders can expect to receive the 1H 2025 DPU on Thursday, 18 September 2025. Based on the closing price of S$2.17 per unit on 30 June 2025, CICT’s annualised distribution yield is 5.2%. In 1H 2025, CICT’s gross revenue eased by 0.5% y-o-y to S$787.6 million, resulting in a corresponding 0.4% y-o-y decrease in its net property income to S$579.9 million. This slight decline was primarily due to the absence of income from 21 Collyer Quay, divested on 11 November 2024, and Gallileo, which has been undergoing asset enhancement initiatives (AEI) since February 2024. Excluding the income contribution from 21 Collyer Quay in 1H 2024, the Trust’s gross revenue and net property income for 1H 2025 would have increased by 1.4% and 1.7%, respectively. Tan Choon Siang, CEO and Executive Director of CICTML Mr Tan Choon Siang, CEO and Executive Director of CICTML, said: “Our first-half results underscore the strength and resilience of CICT, driven by active portfolio management and reconstitution efforts, as well as disciplined capital management. The income contribution from ION Orchard and stronger portfolio performance have effectively offset the income gap from the sale of 21 Collyer Quay and the ongoing AEI at Gallileo. In addition, the recent divestment of the non-core serviced residence component of CapitaSpring on 30 May 2025 has bolstered CICT’s financial flexibility, with net proceeds used to reduce debt and support working capital needs. These actions affirm our commitment to enhancing asset and portfolio value, recycling capital and maintaining financial discipline in a dynamic macroeconomic environment.” On the asset enhancement front, Mr Tan said: “We remain proactive in identifying assets to strengthen their market positioning and relevance. With AEI works completed at IMM Building and Gallileo nearing handover, we are preparing to commence new enhancement projects at Lot One Shoppers’ Mall and Tampines Mall starting in 4Q 2025. These AEIs will expand our offerings, elevate the shopper experience, and unlock additional asset potential.” “Looking ahead, our focus remains on driving sustainable growth through proactive portfolio management and prudent cost and capital management. With our current aggregate leverage ratio, we are well-positioned to seize accretive growth opportunities while maintaining a disciplined investment approach,” added Mr Tan. Notes: N.M. – Not meaningful. 1. Amount includes distribution income from joint ventures. 2. The following sums were retained for general corporate and working capital purposes: For 1H 2025, S$4.6 million comprising S$3.5 million and S$1.1 million received from CapitaLand China Trust (CLCT) and Sentral REIT respectively. For 1H 2024, S$4.2 million comprising S$4.0 million and S$0.2 million received from CLCT and Sentral REIT respectively. For FY 2024, S$9.4 million comprising S$8.0 million and S$1.4 million received from CLCT and Sentral REIT respectively. For FY 2023, S$12.7 million comprising S$9.5 million and S$3.2 million received from CLCT and Sentral REIT respectively. Proactive portfolio management Against an evolving economic backdrop, CICT’s portfolio demonstrated resilience, supported by sound operating performance in 1H 2025. As at 30 June 2025, CICT’s portfolio committed occupancy remained robust at 96.3%, led by the retail (98.6%), integrated development (97.8%) and office (94.6%) portfolios. During the period, approximately 0.8 million square feet of new leases and renewals were signed across CICT’s portfolio. Singapore retail and office portfolios continued to achieve positive rent reversions of 7.7% and 4.8%, respectively, based on the average rents of newly signed leases in 1H 2025, compared to the average rents of expiring leases. Both portfolios also maintained high tenant retention rates, with retail at 81.8% and office at 76.8%. To invigorate the retail experience for shoppers, CICT actively introduced fresh offerings. In 1H 2025. Raffles City Singapore welcomed several new retailers including Taiwan’s renowned artisanal handcrafted noodle chain Spicy Noodles and fusion art and tea concept ARTEASG. Bugis+ introduced SIDES , a fried chicken venture by British digital content creators, Sidemen, while Bedok Mall saw the arrival of KKV , a Chinese lifestyle destination offering an expansive range of products including toys, homeware, daily essentials and cosmetics. CICT’s office portfolio also saw healthy leasing activity, attracting new tenants from diverse sectors such as Business Consultancy, Energy & Natural Resources and IT and Telecommunications. Notable leases signed for renewals in 2Q 2025 included Clarksons Singapore Pte. Limited and First Abu Dhabi Bank P.J.S.C. Singapore Branch at Asia Square Tower 2, and Avolon Aerospace Singapore Pte. Ltd. at CapitaGreen. Value creation from AEIs CICT has successfully completed the phased AEI works at IMM Building, with reconfigured and upgraded units now handed over to committed tenants. Strengthening its position as a regional outlet destination, IMM Building now features more than 100 outlet stores that cater to diverse consumer needs. The Trust will progressively hand over the refreshed space at Gallileo to the European Central Bank starting in 3Q 2025, with the remaining tenants to follow in 1Q 2026. From 4Q 2025, CICT’s AEI efforts will focus on the suburban malls – Lot One Shoppers' Mall and Tampines Mall – with works aimed at expanding their offerings and uplifting their asset values. Both malls will remain operational throughout the enhancement period to continue serving shoppers. Disciplined capital management CICT maintained a strong balance sheet through proactive and agile capital management, emphasising long-term stability. The Trust continues to diversify its funding sources to mitigate the risk of relying on any single source. As at 30 June 2025, CICT’s aggregate leverage was 37.9%, while the average cost of debt was 3.4%, down from the 3.6% as at 31 December 2024. About 81% of total borrowings remained on fixed interest rates. The debt maturity profile is well-staggered across various tenures, with an average term-to-maturity of 4.0 years, reducing refinancing risks in any single year. As at 30 June 2025, the adjusted net asset value per unit was S$2.07, a slight decline of 1.0% compared with 31 December 2024. Artist’s impression of the new F&B units at Basement 2 of Lot One Shoppers' Mall
- August 7, 2025Business
MATRADE Leads ASEAN Online Sales Day 2025 to Boost Digital Economy
The Ministry of Investment, Trade and Industry (MITI), together with Malaysia External Trade Development Corporation (MATRADE) — the national coordinator for Malaysia and the overall ASEAN-level lead for the ASEAN Online Sales Day (AOSD) 2025 Task Force — is proud to announce the return of AOSD 2025, which will take place from 8 to 10 August 2025. First launched in 2020 during the height of the COVID-19 pandemic, AOSD has since grown into a flagship regional initiative, reflecting ASEAN’s collective strength and commitment to building a dynamic digital economy. This annual, region-wide online shopping campaign brings together leading e-Commerce platforms, Small and Medium Enterprises (SMEs) and consumers across all ten ASEAN member states. Boosting ASEAN’s Digital Economy The Southeast Asian digital economy continues to grow at a rapid pace. According to the Google–Temasek e-Conomy SEA 2024 report, the region’s digital economy reached US$263 billion in Gross Merchandise Value (GMV) in 2024, marking a 15% year-on-year increase. Notably, video commerce now accounts for 20% of e-Commerce GMV, up from less than 5% in 2022, highlighting new opportunities for businesses to reach customers in innovative ways. “The ASEAN Online Sales Day is more than just a sales event; it is a powerful demonstration of regional solidarity and the immense opportunities of our single digital market,” said Mr. Mansor Shah Wahid, Deputy Chief Executive Officer (Exporters Development), MATRADE. “As ASEAN Task Force Chair for 2025, MITI & MATRADE are committed to empowering SMEs to embrace digitalisation, expand their online presence and thrive in today’s digital economy,” he added. Empowering SMEs and Showcasing ASEAN Brands AOSD provides an unparalleled platform for SMEs to showcase their products, strengthen their digital presence and connect with ASEAN’s 660 million consumers. Businesses ranging from food producers and textile makers to innovative tech brands will benefit from enhanced visibility and participation in one of the region’s most anticipated digital campaigns. Success stories from past editions, demonstrate the transformative impact of digital platforms in enabling SMEs to scale and compete in the regional marketplace. Shopping during AOSD isn’t just about getting great deals – it’s also about supporting local businesses and celebrating the creativity of ASEAN. Every purchase helps strengthen connections across the region while giving consumers the chance to discover unique products and enjoy special promotions. What Consumers Can Expect From 8–10 August 2025, consumers in Malaysia and across ASEAN can look forward to: Exclusive discounts and promotions from participating e-Commerce platforms and webstores. AOSD-branded offers, making it easy to identify authentic deals. A diverse showcase of products from across ASEAN including Malaysia that reflecting the region’s talent, creativity and entrepreneurial spirit. Shop ASEAN, Support ASEAN MATRADE urges all consumers to mark their calendars for 8–10 August 2025 and support this regional campaign. Look out for the AOSD logo on your favourite e-Commerce platform to unlock exclusive promotions and play a role in strengthening ASEAN’s digital economy. For businesses, AOSD 2025 offers more than just sales. It is an opportunity for growth, collaboration and long-term digital competitiveness. For Clarification: Businesses interested in joining AOSD 2025 may contact: Mr. Saifuddin Khalid Email: [email protected] | WhatsApp: +6017-476 6250
- August 6, 2025Business
CAGAMAS LAUNCHES MALAYSIA’S FIRST GREEN MORTGAGE GUARANTEE PROGRAMME
Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced the launch of its latest initiative, the Green Mortgage Guarantee Programme (Green MGP) , marking a significant milestone in Malaysia’s journey towards sustainable and inclusive housing finance. The product will be offered through its sister company, Cagamas SRP Berhad (“Cagamas SRP”). The Green MGP is designed to support financial institutions in expanding their green lending portfolios while promoting environmentally conscious homeownership. This innovative product offers mortgage guarantees for residential properties that are either certified as “green” or “sustainable,” as well as for homes with green enhancements, thereby aligning housing finance with Malaysia’s climate goals under the Twelfth Malaysia Plan and the national commitment to achieve net zero emissions by 2050. “The Green MGP is more than just a product – it’s a reflection of our commitment to a greener Malaysia. By incentivising green homes and reducing financing risks, we aim to make sustainable living more accessible and reshape the future of Malaysia’s housing and financial landscape,” said Encik Kameel Abdul Halim, President/Chief Executive Officer of Cagamas Berhad. Building on the success of previous housing guarantee schemes such as Skim Rumah Pertamaku , Skim Perumahan Belia and the new First Home Mortgage Guarantee Programme , which have enabled over 100,000 Malaysians to own their first homes, the Green MGP introduces a new dimension of environmental responsibility. It provides financial institutions with a risk mitigation tool that supports ESG-aligned lending practices, while offering homebuyers better financing options for sustainable properties. Encik Kameel added, “We recognise that for many institutions, ESG compliance is no longer optional. Through this programme, we hope to support our banking partners in meeting evolving sustainability standards while continuing to promote affordable home ownership.” The Green MGP is open to financial institutions nationwide. Cagamas and Cagamas SRP invite all financial institutions to participate in this transformative journey towards a more resilient and sustainable housing ecosystem. About Cagamas Cagamas Berhad (“Cagamas”), the National Mortgage Corporation of Malaysia, was established in 1986 to promote the broader spread of home ownership and growth of the secondary mortgage market in Malaysia. It issues bonds and sukuk to finance the purchase of housing loans from financial institutions and non-financial institutions. The provision of liquidity to financial institutions at a reasonable cost to the primary lenders of housing loans encourages further expansion of financing for houses at an affordable cost. The Cagamas model is well regarded by the World Bank as the most successful secondary mortgage liquidity facility. Cagamas is the second largest issuer of debt instruments after the Government of Malaysia and the largest issuer of AAA corporate bonds and sukuk in the market. Since incorporation in 1986, Cagamas Group has cumulatively raised circa RM465 billion worth of corporate bond/sukuk and others. Cagamas’ bonds and sukuk continue to be assigned the highest ratings of AAA/Stable/P1 by RAM Rating Services Berhad and AAA/MARC-1 and AAAIS/MARC-1IS by MARC Ratings Berhad, denoting its strong credit quality. Cagamas is also well regarded internationally and has been assigned local and foreign currency long-term issuer ratings of A3 by Moody’s Investors Service Inc. that are in line with Malaysian sovereign ratings. Cagamas Berhad Registration No. 198601008739 (157931-A) Level 32, The Gardens North Tower Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur Tel: +603 - 2262 1800 I Fax: +603 - 2282 9125 www.cagamas.com.my Media Enquiries Lucia Wee Tel: +603 - 2262 1868 Email: [email protected]
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