Finance & Loan News
IWK AND JSW COLLABORATE TO PROVIDE RECLAIMED WATER TO MEET GROWING DATA CENTRE NEEDS
In response to Malaysia’s accelerating digital infrastructure growth, the national sewerage company, Indah Water Konsortium (IWK) Sdn. Bhd. and Johor Special Water (JSW) Sdn. Bhd. have entered into a strategic collaboration to develop reclaimed water solutions that support the growing water demand of the data centre industry in Johor. Today, IWK and JSW signed three (3) agreements involving three (3) sewerage treatment plants, to supply alternative water to two (2) data centres in Johor. Treated effluent will be supplied through an integrated distribution system to water reclamation plants (WRP) at Bridge Data Centres Malaysia IV Sdn. Bhd. (BDC) and Computility Technology (Malaysia) Sdn. Bhd., while JSW will supply an alternative water source directly to Dayone Data Centre Malaysia II Sdn. Bhd. (Dayone). Under this agreement, IWK will supply 12 million litres per day (MLD) of treated effluent, sourced from its sewage treatment plants, to the WRP built by BDC and Computility. “Our collaboration with JSW marks a significant step forward in sustainable water management. By supplying reclaimed water sourced from treated effluent, IWK are providing a reliable, non-potable solution that meets the high water demands of industries like data centres. This initiative supports Malaysia’s sustainability goals and reduces pressure on clean water resources,” said IWK Chief Executive Officer, Narendran Maniam. This partnership will supply approximately 4 MLD of treated effluent from IWK’s JB-Pelangi Sewage Treatment Plant (JBR005) to BDC’s WRP in Ulu Tiram. JSW will oversee the delivery of treated effluent and coordinate with local authorities for all approvals. The treated effluent is to be reclaimed into high-grade water quality for use in BDC’s cooling operations. “With Johor experiencing a surge in water demand, driven by interest from over 50 data centres in the past two years, JSW has been working closely with IWK to deliver viable and sustainable water solutions. Treated effluent, both in quality and quantity, has proven to be safe and effective use in data centre operations,” emphasised JSW Chief Executive Officer, Abdul Rashid bin Haji Ismail. IWK produces over 7,371 million litres per day (MLD) of treated effluent from sewage treatment plants across the country, with 1,067 MLD generated in Johor alone. With growing market demand for sustainable water solutions in Johor, the potential for scaling reclaimed water infrastructure is significant. “We have already received multiple enquiries for reclaimed water supply from other data centre and industrial zones, including Nusajaya Tech Park, Sedenak Tech Park, Nusa Cemerlang Industrial Park, Pasir Gudang and Kempas. This clearly demonstrates Johor’s strong positioning as an emerging digital hub” added Abdul Rashid. With data centres ranked among the most water-intensive facilities, primarily due to cooling needs, reclaimed water offers a scalable, climate-conscious alternative to conventional sources. Established in October 2021, the partnership between IWK and JSW, a wholly owned subsidiary of Permodalan Darul Ta’zim Sdn. Bhd.—the investment arm of the Johor State Government, aims to repurpose treated effluent from sewage treatment plants (STPs) into reclaimed water for non-potable industrial uses. The IWK-JSW collaboration exemplifies how cross-agency partnerships can unlock new value from existing infrastructure while advancing sustainable development. This initiative plays a key role in Johor’s transformation into a smart, sustainable digital hub. By repurposing treated effluent as a valuable resource, it promotes responsible water management, enhances climate resilience, supports sustainable industrialisation, and aligns with Malaysia’s sustainability goals. For more information, please contact: IWK Wan Esuriyanti Wan Ahmad Head, Corporate Communications Department 012-2718095 Melissa Norris Senior Manager, Corporate Communications Department 016-2738308 ABOUT IWK JSW Fairuz Mohd Saad Executive, Johor Special Water 010-4082884 PDT Muhammad Ammar Akmal Senan, Vice President of Corporate Affairs PDT 013-209 8586 Norindah Khairi, Head of Corporate Affairs PDT 017-788 0959 - End- Indah Water Konsortium Sdn. Bhd. (IWK), is a sewerage services company owned by Minister of Finance Incorporated, Malaysia. IWK is responsible for providing sewerage services, operating and maintaining 9,133 existing sewage treatment plants and network pump stations, as well as more than 22,000 km networks of sewerage pipelines serving 32 million Connected Population Equivalent (cPE). Our core expertise spans Operations and Maintenance, Refurbishment, Planning & Policy Strategy, Engineering and Process Review, Project Planning and Management, Environmental Impact Assessment (EIA) and Hazard and Operability Studies (HAZOP), as well as Research & Development, and Training Services including module development. For more information, visit www.iwk.com.my ABOUT JSW Johor Special Water (JSW) is a subsidiary of Permodalan Darul Ta'zim that provides non-potable industrial water services in Johor. JSW has been mandated by the Johor State Government since 2011 to provide alternative industrial water solutions in Johor. ABOUT PDT Permodalan Darul Ta’zim Sdn. Bhd. (PDT) is a wholly-owned company of the Johor State Government, established in 1994 as a governmental investment instrument for asset management and state’s equity holdings in privatization projects. PDT's core business sectors encompass Water, Wastewater, Energy and Environment; Oil and Gas; Infrastructure and Property; as well as Strategic Business and Investment. PDT also has been entrusted by the Johor State Government to spearhead green development initiatives in Johor.
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- August 20, 2025Business
AirAsia Philippines Pioneers Inclusive Cabin Crew Recruitment
AirAsia Philippines is pioneering a game changing process, breaking stereotypes and pushing forward an inclusive cabin crew recruitment. Beginning 20 until 29 August 2025, every Wednesday, 10AM until 12NN, the World’s Best Low Cost airline will open its doors to cabin crew aspirants who no longer need to be in the usual formal attire with full make-up. Instead, they can come into a more cost-friendly outfit, wearing only white t-shirt, jeans and casual rubber shoes for male applicants and white shirt, denim skirt and heels for female candidates. Cabin crew aspirants will immerse themselves in a more realistic work environment, setting aside the usual runway screening with a more service and guest-oriented approach during the selection process. Also, they will now get a glimpse of the Allstar culture, giving each candidate a taste of a day in the life in the skies even before they get hired. “We are reimagining the way we do our recruitment process to focus more on the essentials---talent, attitude and skills needed to become a successful cabin crew. Awarded for the 8th consecutive time as World’s Best Low-Cost Cabin Crew by Skytrax, not only do we live and breathe the standards of safety, we make sure that the work environment is fun and inclusive. By changing the game, we also wish to take part in the purposeful journeys of cabin crew aspirants who are deserving to live the sky high dream,” AirAsia Philippines Chief Executive Officer Suresh Bangah Future Allstars are required to bring an updated CV or resume along with a recent non-AI-generated photo. They must be ready to showcase their sweetest smiles and the minimum height requirement proportionate to their Body Mass Index (BMI). While AirAsia encourages college graduates to join, Senior highschool graduates are also welcome to apply. Fluency in written and spoken English and Filipino or being multilingual is considered an advantage. This is the 4th open day recruitment of AirAsia Philippines, paving the runway of opportunities for 3 batches this year and continuously pooling for intake requirements next year. For a complete overview of the “Allstar Wednesday Castings”, interested candidates may visit AirAsia Job Portal.
- August 20, 2025Business
IJM Construction secures RM1.4 billion fast‑track data centre contract in Johor
IJM Construction Sdn Bhd (“IJM Construction”), a wholly‑owned subsidiary of IJM Corporation Berhad (“IJM”), has been awarded a RM1.4 billion contract for the construction of a large‑scale data centre facility in Johor Bahru. The fast‑track project comprises a six‑storey data centre building with integrated office facilities and a refuse and recycling facility. With a gross floor area of approximately 62,000 square metres, IJM Construction will deliver the full civil and structural works using a pre‑cast system, columns, beams and hollow core slabs, supported by steel structures for mechanical and electrical (M&E) plant installations. The building is designed to achieve LEED Gold and GreenRE Platinum certifications, and includes a distinctive green wall façade with integrated irrigation. These sustainability elements complement advanced construction methods to deliver long‑term operational efficiency. This is the largest data centre project undertaken by IJM Construction and marks its fourth data centre project in Johor, which is emerging as a strategic hub for hyperscale and enterprise facilities supporting AI, cloud computing and digital services in Southeast Asia. The project is scheduled for completion in September 2026, within a 13-month timeline. Dato’ Lee Chun Fai, Group CEO & Managing Director, IJM Corporation Berhad , said: “This project win demonstrates IJM Construction’s ability to deliver complex, high‑specification facilities on accelerated schedules. By applying our core strengths in structural delivery and execution, we are able to meet the demands of today’s hyperscale data centre market for speed, quality and scalability. We are also seeing stronger emphasis on environmental performance, with certifications and green features becoming standard in data centre design. Our role is to ensure these evolving requirements are met with reliability and precision. The rapid growth of AI, cloud services, and high‑density computing is driving unprecedented investment in Malaysia’s digital infrastructure. Johor’s position as a key regional node makes projects like this critical, and IJM is well‑placed to deliver the capacity and performance that operators require.” This latest data centre win adds RM1.4 billion to IJM Construction’s order book, bolstering it from RM7.6 billion as at 31 March 2025 to RM9.2 billion. The pipeline includes multiple data centres, electrical and electronic (E&E) manufacturing facilities, and logistics hubs, sectors driving IJM’s growth in high‑value industrial and digital infrastructure. —End— About IJM Corporation Berhad IJM Corporation Berhad (“IJM”), formed in 1983, today ranks as one of Malaysia’s leading conglomerates with an international footprint forged by its four core businesses: construction, property development, industry (quarrying and the manufacture of building materials) and infrastructure concessions. IJM holds leading positions across all its business divisions. Its growth is the direct result of strong leadership, dedicated employees, financial prudence and commitment to good governance and quality. The Group presently has a market capitalisation of around RM10.61 billion and as of March 2024, the Group employed around 3,500 employees and had total assets of RM21.8 billion. For more information, visit www.ijm.com For media enquiries, please contact: Ms. Mandy Chen, Corporate Communications, at [email protected] or + 60 12 607 6121 Mr. Shane Guha Thakurta, Investor Relations, at [email protected] or + 60 3 7985 8041
- August 19, 2025Business
St.Galler Kantonalbank increases profits in the first half of the year
Consolidated profit rises to CHF 114.1 million (+13.6 %) in the first semester. All revenue pillars are above last year’s levels. Business volume reaches CHF 101.0 billion. Increased profit St.Galler Kantonalbank’s (SGKB) consolidated profit rises to CHF 114.1 million (+13.6 %). All revenue pillars are above last year’s level. The gross interest income increases by 10.3 % and reaches the level of 2023 again, after last year’s reduction. Thanks to good sales and market performance, as well as higher inventory levels in the asset management business, also the result from commission business and services increases significantly (+9.0 %). «This strong performance shows that we are ideally positioned as an asset management bank», says Christian Schmid, CEO of St.Galler Kantonalbank. The result from trading activities (+16.7 %) benefits from high activity on the stock markets. Thus, the operating income rises by 9.8 %, compared to the first semester of 2024, and for the first time above CHF 300 million. Operating expenses rise by 6.8 %, compared to the first semester of the previous year. Investments in newly created positions in 2024 and wage increases each contribute roughly half to a 6.0 % increase in personnel expenses. General and administrative expenses rise by 8.1 %, mainly due to IT projects and IT operating costs, as well as targeted investments in risk management. Business volume above CHF 100 billion SGKB increases its business volume since the beginning of the year by 2.8 % to CHF 101.0 billion. In the first semester, the bank acquired CHF 2.0 bn. Net New Money, again an impressive achievement. The business areas with the largest inflows are institutional clients and private clients. As of the end of June, SGKB manages CHF 66.9 billion in assets. Loans to clients rise by 1.1 % to CHF 34.1 billion in the first half year. Growth in core markets (private individuals, commercial/corporate clients) is higher than in the first half of 2024. At the same time, positions in large regulated real estate vehicles were reduced in 2025 to reflect the changed refinancing situation for banks. Outlook result 2025 St.Galler Kantonalbank expects the consolidated profit for the year 2025 to be at the previous year’s level, although forecasts for further market development are marked by great uncertainty due to the current political and economic situation. Alternative Performance Measures: The alternative performance measures used outside the scope of generally accepted accounting principles as defined in the corresponding SIX Directive are explained (in German) on the SGKB website ( sgkb.ch/alternative-performancekennzahlen ).
- August 19, 2025Business
With a profit of €3.2bn in H1, Munich Re on course to meet its annual target
Q2 net result of €2.1bn; annual guidance unchanged at €6.0bn Property-casualty reinsurance and Global Specialty Insurance (GSI): very low major-loss expenditure ensures low combined ratios in Q2 (61% and 78%, respectively) Life and health reinsurance: random, individual major losses reduce total technical result in Q2 (€305m), new business development remains strong ERGO contributes €251m to Q2 net result; H1 result nears €500m July renewals emphasise profitability and portfolio optimisation: price decrease of 2.5% and volume decrease of 3.2% In the second quarter, Munich Re posted a record-breaking profit of €2.1bn. With a half-year net result of €3.2bn, we are well on track to reach our annual target of €6bn. All lines of business contributed to the quarterly result – with excellent combined ratios in property-casualty reinsurance and GSI, and pleasing developments in life and health reinsurance, at ERGO and in our investment business. This also allowed us to mitigate the impact of foreign exchange losses due to the faltering US dollar. As the outcomes of the July renewals show, we continue to enjoy an attractive market environment. Our task now is to continue capitalising on it through stringent discipline. Joachim Wenning Chair of the Board of Management Summary of Q2 figures 1,2 Munich Re generated a net result of €2,085m (1,601m) in the second quarter of 2025 and €3,178m (3,715m) in the first half of the year. Despite organic growth, insurance revenue from insurance contracts issued declined slightly year on year to €14,775m (14,953m) in Q2, which was attributable to negative foreign exchange effects. In H1, insurance revenue climbed to €30,586m (30,014m). The total technical result rose to €3,035m (2,440m) in Q2, while the currency result fell to –€602m (–21m), chiefly due to foreign exchange losses in connection with the weak US dollar. The operating result was €2,917m (2,178m) and the effective tax rate was 27.2% (24.8%). Equity was lower at the reporting date (€30,762m) than at the start of the year (€32,901m). This was mainly due to dividend payments and share buy-backs, as well as currency translation effects. Munich Re’s solvency ratio3 was unchanged at 287% (31 December 2024: 287%), thus remaining above the optimal range of 175–220%. The annualised return on equity (RoE) amounted to 25.5% (20.2%) in Q2 and to 19.7% (24.1%) in H1. Reinsurance: Result of €1,834m 1 Munich Re presents Global Specialty Insurance (GSI) as a separate reinsurance segment since the first quarter of 2025. Previously part of the property-casualty reinsurance segment, GSI now globally bundles those primary specialty insurance activities that are managed by the reinsurance organisation. The comparative information has been restated accordingly. The reinsurance field of business contributed €1,834m (1,339m) to the Group’s net result in Q2; the H1 result was €2,687m (3,227m). Insurance revenue from insurance contracts issued decreased to €9,629m (9,875m) in Q2. The total technical result was up, at €2,418m (1,940m), as was the operating result of €2,561m (1,847m). In Q2, life and health reinsurance generated a total technical result of €305m (568m). Despite ongoing very good operational performance, this segment’s result was impacted by a random accumulation of individual major losses in Q2, dropping to €344m (514m). Insurance revenue from insurance contracts issued came to €3,094m (2,961m). The property-casualty reinsurance segment posted a net result of €1,193m (771m); insurance revenue from insurance contracts issued fell to €4,513m (4,834m). The combined ratio was 61.0% (73.7%) of net insurance revenue; the normalised combined ratio was 79.6%. In Q2, Munich Re reported major losses amounting to –€87m (644m) after retrocession and before tax, chiefly due to the low major-loss expenditure and the release of claims reserves from previous years. Major-loss expenditure corresponded to –2.0% (13.8%) of net insurance revenue, and was thus substantially below the expected value of 17%. In terms of man-made major losses, Munich Re posted a release of €107m in Q2, compared to an expenditure of €106m in the same quarter last year. Major-loss expenditure from natural catastrophes amounted to €20m (539m). The major-loss figures above take account of the effects from discounting and risk adjustment. The Global Specialty Insurance segment posted a net result of €296m (54m). Insurance revenue from insurance contracts issued came to €2,022m (2,080m), while the combined ratio improved to 77.9% (93.6%) of net insurance revenue. In the reinsurance renewals as at 1 July 2025, the volume of business decreased slightly to €3.2bn (–3.2%), as Munich Re selectively opted to not renew or write business that did not meet expectations with respect to prices, terms and conditions. The primary focus of the July renewals was business in North America, South America, Australia, and with global clients. Maintaining stable terms and conditions ensured the continuing high quality of Munich Re’s portfolio. Our prices largely compensated for the higher loss estimates in some areas, which were primarily attributable to inflation or other loss trends. Despite a 2.5% drop, the good price level of Munich Re’s portfolio was maintained overall. These figures are, as always, risk-adjusted. In other words, price increases are offset if they are associated with increased risk and, consequently, elevated loss expectations. Over the three most important renewal dates in 2025, the reinsurance portfolio experienced a 1.2% decline in prices. For the next round of renewals in January, Munich Re expects to see a market environment that continues to offer attractive business opportunities. ERGO: Result of €251m2 Munich Re generated a result of €251m (262m) in its ERGO field of business in Q2 and €492m (488m) in H1. Insurance revenue from insurance contracts issued rose to €5,146m (5,078m) in Q2 and to €10,706m (10,282m) in H1. In Q2, the ERGO Germany segment increased its result to €155m (116m), largely due to good operational performance. Further, the segment’s Q2 insurance service result improved significantly year on year. At Life and Health Germany, the release of the contractual service margin was up year on year; the insurance service result from short-term health and travel business also rose, due to lower claims and to seasonal effects. The insurance service result also increased at ERGO Property-casualty Germany. In the ERGO International segment, the net result amounted to €96m (146m) in Q2; last year’s Q2 result had benefited from a positive one-off effect. In Q2 2025, the segment’s insurance service result improved thanks to ongoing profitable growth and favourable claims development. At Life and Health International, the release of the contractual service margin remained stable, which was mainly driven by health business in Spain and by life and health business in Belgium. The total technical result for the field of business climbed to €617m (500m) and the operating result to €357m (331m) in Q2. The combined ratio for the ERGO Germany segment was 89.1% (91.3%) in Q2, matching the target value for the year as a whole; in H1, it was 88.9% (89.5%). In the ERGO International segment, the combined ratio improved substantially in Q2 to 89.5% (91.7%), driven by property-casualty business in Austria and the Baltic states, and by health business in Spain. Accordingly, it was below the target value for the year as a whole. In H1, the combined ratio declined to 89.3% (90.6%). Investments: Investment result of €2,187m Munich Re’s investment result increased to €2,187m (1,470m) in Q2; regular income from investments amounted to €2,222m (2,281m). The balance from write-ups and write-downs was –€28m (–62m), with the balance from gains and losses on the disposal of investments coming to €76m (–145m). The change in fair value amounted to €84m (–393m). The higher investment result compared to Q2 2024 was primarily attributable to significantly higher fair values. Our equity portfolio in particular benefited from rising stock market prices. In addition, we generated an improved result from derivatives, while having to accept losses on private equity investments due to the weak US dollar. As in the past, we realised losses on the disposal of fixed-interest securities in Q2 2025; however, they were much smaller year on year, while also contributing to the improved investment result. Overall in Q2, the investment result represented a return of 3.8% on the average fair value of the portfolio. The running yield was 3.8% and the yield on reinvestment was 4.2%. As at 30 June 2025, the equity-backing ratio including equity-linked derivatives amounted to 3.4% (2.9% as at 31 December 2024). The carrying amount of the investment portfolio as at 30 June 2025 was €222,768m (31 December 2024: 230,716m). Outlook for 2025: Annual guidance unchanged at €6bn Anticipating sustained advantageous business opportunities in coming quarters, Munich Re continues to expect a net result of €6.0bn for the 2025 financial year. Due to business and exchange rate developments, insurance revenue in reinsurance is now expected to total €40bn (previously €42bn). The Group’s insurance revenue is therefore anticipated to be €62bn, previously €64bn. The other targets communicated for 2025 in Munich Re’s Group Annual Report 2024 remain unchanged. Please note that all figures are rounded values. As usual, all forecasts and targets are subject to increased uncertainties stemming from geopolitical and macroeconomic developments, to major losses remaining within normal bounds, and to the income statement not being impacted by severe fluctuations in the currency or capital markets, significant changes in the tax environment, or other one-off effects. 1 Previous year’s figures adjusted due to a reclassification of currency translation differences on insurance-related financial instruments to the currency result. 2 Previous year’s figures adjusted due to an accounting policy change for recognition of acquisition costs in the segment ERGO Germany. 3 Does not include any transitional measures or, as at 30 June 2025, any deduction for dividends for the 2025 financial year to be paid in 2026.
- August 18, 2025Business
Kewpie Selected as Constituent of FTSE4Good Index Series, FTSE Blossom Japan Index, and FTSE Blossom Japan Sector Relative Index
Kewpie Corporation (“Kewpie”) has been selected as a constituent of the FTSE4Good Index Series*1 (consecutive since 2024), FTSE Blossom Japan Index*2(consecutive since 2022), and FTSE Blossom Japan Sector Relative Index*3 (consecutive since 2022), which are representative indices for ESG (Environmental, Social, and Governance) investment. The Kewpie Group has formulated its Environmental Vision 2050 with the launch of its 11th Medium-term Business Plan starting in 2025. We will promote environmental activities focusing on realizing a decarbonized society, building a recycling-oriented society, and preserving biodiversity to contribute to the realization of a sustainable society. Decarbonization We aim to achieve carbon neutrality with net-zero CO2 emissions. We will promote energy-saving activities at our factories and introduce renewable energy. Resource Recycling We aim for a society that uses resources efficiently and repeatedly. We will work on water conservation, food loss reduction, and plastic recycling. Coexistence with Nature We aim to realize a society that can coexist with abundant nature. We will promote the procurement of sustainable raw materials and activities to protect biodiversity. The Kewpie Group will continue to strive for harmony with the global environment through our business activities, aiming to realize a sustainable society and further enhance our corporate value. Disclaimer: This English version is a translation of the original in Japanese for your convenience. In case of a discrepancy, the Japanese original shall prevail. We shall not be liable for any losses caused by reliance on the accuracy or reliability of translated information. *1. This is an investment index provided by FTSE Russell that takes ESG into account. It is used by investors as the standard for evaluating a corporation’s sustainability. *2. This is an index created by FTSE Russell to evaluate ESG responses of Japanese corporations. It is used as an investment index by the Government Pension Investment Fund (GPIF). *3. This is an index launched by FTSE Russell in 2022, and evaluates Japanese corporations with relatively good ESG performance within each sector. Designed to be sector-neutral, for companies with high greenhouse gas emissions, only those companies that have been evaluated for improvement efforts by the TPI Management Quality Score are selected. This investment index is also used by the GPIF along with the FTSE Blossom Japan Index. Reference Kewpie Corporation Sustainability website https://www.kewpie.com/en/sustainability/ Kewpie Group Environmental Vision 2050 https://www.kewpie.com/en/sustainability/management/environment/#vision ESG Data Sheet https://www.kewpie.com/en/sustainability/esg/
- August 18, 2025Business
JD.com Completes Acquisition of Hong Kong’s Kai Bo Food Supermarket, Driving Omnichannel Retail Growth
We at JD.com are excited to announce that we have completed the acquisition of KAI BO Food Supermarket, a cherished and trusted grocery chain in Hong Kong. This milestone marks a significant step in our journey to strengthen our presence in the Guangdong-Hong Kong-Macau Greater Bay Area and expand into Hong Kong’s vibrant retail scene. This strategic acquisition combines our industry-leading supply chain capabilities with KAI BO’s deep local expertise and allows for stronger omnichannel retail growth and an enhanced shopping experience for consumers across Hong Kong. We see this acquisition as an important milestone in deepening our roots in Hong Kong’s retail landscape. It also marks our entry into Hong Kong’s brick-and-mortar retail market. With KAI BO’s extensive store network and our innovative resources, we aim to offer a broader range of high-quality products at competitive prices, meeting the evolving needs of Hong Kong shoppers. To lead this new chapter and to ensure seamless integration, we have established the KAI BO unit within our Innovative Retail business group, with KAI BO’s founder, Mr. Lam Hiu-ngai, appointed as unit head. Since 1991, KAI BO has become a trusted household name, operating over 90 stores and employing more than 1,000 staff across Hong Kong. Known for its value-oriented commitment to consumers, KAI BO offers a wide variety of products, including frozen meats, fresh produce, and pantry staples. As we move forward, we’re committed to creating the best shopping experience for our customers. To celebrate this milestone, we will hold an exclusive three-day, storewide 20% discount event from 16 to 18 August 2025, a token of our appreciation for the support of our Hong Kong customers. At JD.com, our core focus remains on supply chain innovation and this acquisition strengthens our strategy. By integrating KAI BO’s extensive infrastructure, we are dedicated to enhancing product variety and affordability and providing exceptional value to our customers. We have full confidence in KAI BO’s management team and are excited about the opportunities that lie ahead. Since our dedicated focus on Hong Kong operations began in September 2024, we have launched several customer-centric initiatives, including a Price Match Guarantee, a 30-Day Return and 180-Day Faulty Product Replacement policy for self-operated electronics and appliances, and a One-Item Free Shipping service. Additionally, our JD Express Hong Kong Island logistics hub is now fully operational, ensuring fast and seamless deliveries to serve our customers better. ([email protected]; [email protected])
- August 18, 2025Business
NING Service Experience Centers Launch in Shanghai and Bangkok, Setting a New Benchmark for the NEV Aftermarket
On August 10th, NING Service, an independent aftermarket brand under CATL, celebrated its first anniversary alongside the 10th anniversary of CATL's after-sales business. The NING Service Brand Day themed "Now Action" was officially launched, with the flagship experience center in Shanghai and the first overseas directly-operated store in Bangkok, Thailand, opening on the same day. Leveraging its continuous innovation in battery maintenance technology, a globally leading service network and talent system, and a full battery lifecycle ecosystem, NING Service addresses the pain points of new energy vehicle consumers, leading the new energy vehicle aftermarket into a new phase. A Decade of Dedication: Building a Robust Triangle of Service-Talent-Standard "As the global energy structure transition accelerates, China's new energy industry has entered a critical turning point for large-scale development. In NEV industry, existing service systems struggle to meet new demands such as testing of the battery system, electric drive and power electronics, as well as the battery health assessment. As a pioneer in the field of new energy services, NING Service always places customer needs at the forefront, driven by technological innovation and aiming for win-win cooperation to promote high-quality development in the new energy aftermarket," said Li Wei, President of CATL's Aftermarket Business Department. Originally established in 2015 as CATL's After-Market Business Department, NING Service officially upgraded to an independent brand in 2024. Leveraging CATL's globally leading expertise in power battery technology, NING Service provides comprehensive chain services including battery inspection, maintenance, and recycling through directly-operated experience centers, authorized service providers, and a global service network for both enterprises and consumers. After ten years of efforts, NING Service has built a robust presence across 75 countries, operating more than 1,100 service outlets and managing 67 spare parts warehouses with a total area exceeding 370,000 square meters. Building on 24 various industry standards led or involved by CATL's after-sales team, and supported by self-developed service systems covering passenger vehicles, commercial vehicles, energy storage product lines and 6 major application scenarios, NING Service has fulfilled the promise of "general faults repaired within 8 hours, complex faults within 72 hours", firmly holding the top position in the industry. Globally, CATL's overseas service network has achieved 24-Hour response, ensuring seamless service experience for global customers. Furthermore, NING Service collaborates with partners to establish professional new energy detection and repair training bases across 18 provinces and municipalities in China, addressing the growing demand for skilled professionals in the national new energy aftermarket. It has cultivated over 8,600 industry specialists, building a complete talent ecosystem encompassing talent supply, cultivation, and management layout, continuously injecting fresh blood into the industry. Breaking Technical Barriers: Ending the "Replace-Only, No Repair" Maintenance Dilemma While bottom-impact incidents involving battery packs in new energy vehicles are relatively uncommon, they often result in severe damage requiring full pack replacement- a costly repair. Additionally, third-party repair processes pose safety risks, making it difficult to ensure vehicle and user safety. To address this issue, NING Service has innovatively launched its CTP repair service. Utilizing CATL original equipment components, the service strictly adheres to CATL's technical standards and quality requirements and comes with official warranty coverage, ensuring safe and reliable repairs. The repair service is significantly more affordable than full pack replacement, saving substantial repair costs for users and breaking the industry's "replace-only, no repair" deadlock for CTP batteries. During the battery pack repair process, NING Service consistently upholds standardized operating protocols - conducting repairs in a professional and dust-free environment with constant temperature and humidity while rigorously following the original equipment manufacturer's meticulous inspection and repair procedures. This stringent system precisely ensures the reliability of cell-level repairs, effectively eliminating the risk of secondary damage caused by improper handling or substandard parts, thereby safeguarding battery performance and safety at their core. Additionally, to further enhance service professionalism and safety, NING Service has independently developed a non-destructive testing device. This device can complete fault detection in just 15 minutes, achieving an accuracy rate of over 90%. Utilizing ultrasonic guided wave technology, the device enables precise internal damage detection without the need to disassemble the battery pack, effectively avoiding secondary damage that could result from disassembly and inspection. This not only ensures battery safety and longevity but also saves time and repair costs for users. The non-destructive testing device is expected to be officially launched by the end of this year. Leveraging the triple advantages of OEM's technology, genuine parts assurance, and authoritative certification, NING Service has successfully overcome the industry-wide challenges of "difficult and expensive battery pack repairs", providing customers with professional solutions that are both reliable and cost-effective. Closed-Loop Ecosystem: Comprehensive Management Across the Battery's Full Lifecycle NING Service is committed to providing new energy users with services that span the entire lifecycle of a battery – "from production and usage to recycling and regeneration". By integrating a professional battery health assessment system comprising 45 online analyses and 28 offline inspections, NING Service delivers authoritative battery testing and maintenance, helping users promptly identify potential risks, extend battery lifespan, and simultaneously enhance transparency and residual value in the used vehicle market. At the same time, leveraging the globally leading circular supply chain of Brunp Recycling, a CATL subsidiary, NING Service has established a "72-Hour Express Recycling" network, achieving triple the regional coverage rate of third-party platforms. By establishing an efficient green recycling supply chain, NING Service actively fulfills its commitment to sustainable development. In the future, consumers will be able to easily complete the recycling of retired batteries through NING Service's platform. Recovered batteries will undergo strict screening and classification, followed by tailored processing based on their condition and performance - either repaired and remanufactured, cascade utilized, or broken down for reusable raw materials. Through this model, NING Service not only provides consumers with a convenient recycling channel but also maximizes battery lifecycle extension and minimizes resource waste. Moreover, adhering to the philosophy of "co-creation", NING Service collaborates with high-quality industry partners to expand into diversified business areas such as electric vessel operations and the low-altitude economy. This collaborative approach extends the boundaries of service offerings and creates new growth opportunities. Through an open partnership model, NING Service not only drives its own sustainable business growth but also injects fresh vitality into the broader new energy industry. As a key strategic move by CATL in the aftermarket services sector, NING Service not only provides vehicle owners with superior technical support but also sets a new benchmark for the new energy industry through its closed-loop ecosystem approach. Currently, NING Service's flagship experience centers have been established in seven domestic cities in China, including Wuhan and Guangzhou. The store in Bangkok, Thailand, spanning over 2000 square meters and integrating CATL's global service standards, marks its first overseas location and serves as a crucial step for CATL's global technology deployment and service coordination. Looking ahead, NING Service will continue to drive innovation in maintenance technology, service models, and network expansion, injecting new momentum into the healthy, stable, and orderly development of the new energy vehicle aftermarket.
- August 15, 2025Technology
Sonatafy Technology Earns Spot on the Inc. 5000 List of America’s Fastest Growing Private Companies for the Third Year in a Row
Sonatafy Technology has once again been recognized on the Inc. 5000 list of America’s Fastest Growing Private Companies, marking the third consecutive year the company has achieved this distinction. Earning a place on the Inc. 5000 for three years in a row is a milestone reached by only a small percentage of companies. Sonatafy credits this achievement to its ability to help clients accelerate software delivery and innovation through staff augmentation, managed software development, MVP development with rapid prototyping, and fractional CTO consulting services. “Our growth is fueled by execution and by consistently delivering results our clients can measure,” said Steve Taplin, CEO of Sonatafy Technology. “This award is a testament to our team’s expertise, our clients’ trust, and our focus on building software solutions that scale.” Taplin is also the host of the popular Software Leaders Uncensored podcast ( https://softwareleadersuncensored.com/ ) , which has released over 80 episodes featuring candid conversations with technology executives. He is also the author of Fail Hard Win Big ( http://www.failhardwinbig.com/ ) , a book sharing lessons learned from building multiple companies over his career. These platforms reflect the same philosophy that drives Sonatafy’s success — a commitment to transparency, continuous learning, and real-world execution. Over the past year, Sonatafy has expanded its presence across the United States and Latin America, introduced new AI-driven capabilities, and strengthened its position as a trusted partner for technology leaders who need to move quickly without compromising quality. With a remote-first model and access to top engineering talent, the company enables clients to scale efficiently, launch products faster, and adapt to shifting market demands. About Sonatafy Technology Sonatafy Technology builds high-performing software development teams using nearshore talent in the United States and Latin America. Services include staff augmentation, managed software development, MVP development with rapid prototyping, and fractional CTO consulting. Sonatafy partners with organizations to achieve business goals, reduce costs, and accelerate innovation. About the Inc. 5000 First published in 1982, the Inc. 5000 is widely recognized as the hallmark of entrepreneurial success. Alumni of the list include Microsoft, Patagonia, Intuit, and Under Armour. Companies are ranked according to percentage revenue growth over a three-year period, with the 2025 honorees representing some of the most competitive growth rates in the list’s history. Social Links YouTube | LinkedIn Media Contact Full Name: Josh Nuzzi Title: VP Marketing Company Name: Sonatafy Technology Email: [email protected] Website: https://sonatafy.com/
- August 15, 2025Business
ASMPT Announces Strategic Optimisation of its Manufacturing Operations
ASMPT, a global leader in semiconductor and electronics manufacturing, announced today a strategic optimisation of its manufacturing operations in China. ASMPT has decided to close ASMPT Equipment (Shenzhen) Co., Ltd. (先進半導體設備 (深圳) 有限公司) in Bao’an, Shenzhen. This facility is part of the company’s Semiconductor Solutions Segment, and the closure affects approximately 950 staff. This was a tough but necessary decision to optimise ASMPT’s global supply chain to better align it with evolving market dynamics and customer needs. It is expected to improve the cost competitiveness, agility and resilience of ASMPT’s global manufacturing operations for its key products and solutions. ASMPT is committed to treating all affected employees with fairness, dignity and respect. Comprehensive support measures are being put in place to assist impacted staff through the transition. ASMPT’s other key global manufacturing operations are unaffected by the closure. Its supply chain is fully aligned to ensure uninterrupted delivery to all customers, with no impact on the quality or availability of its products and services. This strategic alignment reflects the company’s continued commitment to operational excellence, responsible business practices and sustainable long-term growth. About ASMPT Limited (“ASMPT”) ASMPT Limited is a leading global supplier of hardware and software solutions for the manufacture of semiconductors and electronics. Headquartered in Singapore, ASMPT’s offerings encompass the semiconductor assembly & packaging, and SMT (surface mount technology) industries, ranging from wafer deposition to the various solutions that organise, assemble and package delicate electronic components into a vast range of end-user devices, which include electronics, mobile communications, computing, automotive, industrial and LED (displays). ASMPT partners with customers very closely, with continuous investment in R&D helping to provide cost-effective, industry-shaping solutions that achieve higher productivity, greater reliability, and enhanced quality. ASMPT is also a founding member of the Semiconductor Climate Consortium . ASMPT is listed on the Stock Exchange of Hong Kong (HKEX stock code: 0522) and is one of the constituent stocks of the Hang Seng TECH Index, Hang Seng Composite MidCap Index under the Hang Seng Composite Size Indexes, the Hang Seng Composite Information Technology Industry Index under the Hang Seng Composite Industry Indexes, the Hang Seng Corporate Sustainability Benchmark Index, and the Hang Seng HK 35 Index. To learn more about ASMPT, please visit us at asmpt.com Media contacts: Lim Ee Guan, Director Corporate Communications Tel: +65 6450 1445 Email: [email protected] Website: asmpt.com
- August 15, 2025Business
The Cathay Group announces solid 2025 Interim Results and orders more long-haul aircraft
The Cathay Group (Cathay) today announced its 2025 Interim Results together with the exercise of purchase rights for an additional 14 Boeing 777-9 aircraft, bringing Cathay’s total commitment to 35 such aircraft. Cathay Group Chair Patrick Healy said: “Over the past few years, we have embarked on an all-encompassing fleet renewal and expansion plan, which includes orders for over 100 new narrowbody, regional widebody, long-haul widebody and large freighter aircraft. This new order brings our total investment to well over HK$100 billion, which also includes new cabin products, lounges and digital innovation, further strengthening the Hong Kong international aviation hub and elevating the customer experience to new heights. "As a Group, our passenger airlines, Cathay Pacific and HK Express, have launched or announced 19 new destinations so far in 2025, with more still to come. We now fly to more than 100 passenger destinations globally, as we continue to enhance Hong Kong’s connectivity with the world. “We are also delighted to have been recognised in multiple renowned industry rankings and awards. Cathay Pacific was named one of the world’s top three airlines, as well as being recognised for having the world’s best Economy class and the world’s best inflight entertainment according to Skytrax. Meanwhile, Cathay Cargo was again named Cargo Operator of the Year by Air Transport World, and HK Express was named one of the top five low-cost airlines in the world by Airline Ratings. These achievements would not have been possible without the steadfast support of our customers and the dedication of our people, for which we are extremely grateful.” A solid first-half result As a Group, Cathay reported an attributable profit of HK$3.7 billion in the first half of 2025, a similar level to the first half of 2024. The Group’s first-half result was attributable to increased passenger capacity and volumes albeit at lower yields, a resilient cargo business and lower fuel price. Meanwhile, the results from associates, the majority of which are recognised three months in arrears, reflected an attributable loss of HK$181 million, compared with a loss of HK$342 million in the first half of 2024. The Group’s first-half result has allowed it to announce a first interim dividend payment to ordinary shareholders of HK20 cents per ordinary share, totalling HK$1.3 billion. This is the same amount per ordinary share as the first interim dividend paid in 2024. Elevating the customer experience Cathay is rolling out more customer experience enhancements over the coming years, including new cabin products, flagship lounges, dining experiences, and more. Cathay Pacific’s new Aria Suite Business class cabins and inflight entertainment system have received various recognitions in prestigious design industry awards. Building on these achievements, the airline will be introducing brand new cabins and a flat-bed Business class product on its existing Airbus A330s in 2026, followed by a world-leading First class experience onboard its Boeing 777-9s when the first aircraft is expected to arrive in 2027. Additionally, Cathay Pacific has been rolling out refinements to the design of its current regional Business class on selected A330-300 and 777-300 aircraft with an updated look and features, which are expected to be completed this year. Furthermore, starting this month Cathay Pacific is one of the very few airlines in the world to offer both 100% seatback inflight entertainment and 100% inflight connectivity across its entire fleet. On the ground, Cathay Pacific has commenced an extensive redevelopment plan for its lounges. Earlier this year, The Bridge was opened at Hong Kong International Airport following a full redesign. The redesigned Beijing flagship lounge is scheduled to open this month, while a brand-new flagship lounge will be launched in New York next year. Meanwhile, Cathay Cargo is continuing to strengthen its special solutions, digital capabilities and sustainability leadership to position itself for future growth. Please click here to read the Cathay Group’s 2025 Interim Results.
- August 15, 2025Business
Emergency response during black rainstorm warning: Towngas Community Relations Focus Team swiftly supports community
Hong Kong has been affected by severe weather conditions, with serious flooding and traffic disruption across multiple districts. The Hong Kong and China Gas Company Limited (Towngas) Community Relations Focus Team (CRFT) has swiftly responded to the emergency situation. The Towngas CRFT 25th Anniversary Dinner scheduled for tonight at the Kai Tak Sports Park has been cancelled, with the dinner food redistributed by CRFT members to elderly care homes. Meanwhile, this afternoon, Towngas management and the Towngas Volunteer Service Team formed multiple groups to distribute food across various districts, supporting grassroots families and those in need. Additionally, Towngas frontline technicians remain at their posts on standby, while Towngas CRFT maintains close communication with all districts to jointly respond to emergencies and urgent incidents. Ms Catherine Wong Pui-yee, Towngas Head of Corporate Affairs and Government Relations, said that any community members requiring emergency repairs to gas appliances or related services can contact Towngas CRFT in each district for prompt assistance. Should any district require volunteer support, CRFT members will also provide help. - END - Press photos: Photo 1: During the black rainstorm warning, Towngas management visited multiple districts to support grassroots families and those in need. Pictured: Mr Don Cheng Hill-kwong, Towngas Chief Operating Officer – Hong Kong Business, distributing meal boxes to residents affected by power outages at King Lam Estate in Tseung Kwan O. Photo 2: Ms Catherine Wong Pui-yee, Towngas Head of Corporate Affairs and Government Relations (2nd from right), Ms Judy Chan Kar-po, General Manager – Corporate Affairs (1st from left) and Towngas technicians visited grassroots households with supplies during the black rainstorm warning. Ms May Tam Assistant Corporate Affairs Manager Tel: 2963 3475 / 9192 0062 Email: [email protected] Mr Julius Chow Senior Corporate Affairs Officer Tel: 2963 3471 / 6969 1360 Email: [email protected]
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