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IOI Appoints Tan Sri Abdul Wahid As New Chairman Of IOI
IOI Corporation Berhad (“IOI”) has appointed Tan Sri Abdul Wahid bin Omar as IOI’s new Independent Non-Executive Chairman, effective 5 November 2025. Tan Sri Abdul Wahid succeeds Non-Independent Non-Executive Chairman Tan Sri Peter Chin Fah Kui, who retired on 4 November after an illustrious journey in serving the Board since December 2014. Tan Sri Abdul Wahid has served as Senior Independent Non-Executive Director at the Board since 16 June 2025 prior to his appointment as the Chairman. Tan Sri Abdul Wahid said, after IOI’s 56th Annual General Meeting: “Thank you to the Board for appointing me as Chairman. It has been a pleasure working with Tan Sri Peter Chin over the past five months. I look forward to working closely with Dato’ Lee Yeow Chor (IOI’s Group Managing Director and Executive Chairman) and contributing further value to the company.” With extensive leadership experience across both corporate and public sectors, including his roles as Group Chief Executive Officer of Telekom Malaysia Berhad and President and Chief Executive Officer of Malayan Banking Berhad, his service as Minister in the Prime Minister’s Department (Economic Planning Unit), and his most recent role as Chairman of Bursa Malaysia, Tan Sri Abdul Wahid brings invaluable wealth and strategic insight to IOI. We are honoured to have him join our Board and look forward to his broad leadership experience and deep expertise that strengthen IOI’s governance and oversight. We welcome his valuable contributions as we continue to strengthen our growth journey.
IJM Construction awarded RM1.4 billion design-and-build contract for NPE 2
Cathay Cargo flies in precious artefacts for the Hong Kong Palace Museum’s ancient Egypt exhibition
TANG, a Modern Chinese Restaurant by Chef Fei Debuts This November at Mandarin Oriental, Guangzhou
- November 6, 2025Business
Volpara Now Operates Under Lunit Brand, Advancing a Unified Vision for AI Cancer Intelligence
Lunit (KRX: 328130), a leading provider of AI for cancer diagnostics and therapeutics, today announced that Volpara Health Technologies will now operate under the Lunit brand, introducing a unified global identity that merges their complementary strengths in breast health and AI innovation. This milestone builds on Lunit’s 2024 acquisition of Volpara , an important step that aligned both companies under one vision: to conquer cancer through AI. The integration builds a comprehensive ecosystem spanning risk prediction, early detection, imaging quality, and data-driven precision medicine, delivering greater value for clinicians, researchers, and patients worldwide. This positions Lunit among the few AI healthcare companies with a comprehensive cancer intelligence portfolio—from breast health and screening to precision oncology—serving over 10,000 healthcare providers across more than 65 countries. “By bringing Volpara under the Lunit brand, we’re uniting our technologies, teams, and mission to deliver a connected ecosystem that transforms how cancer is detected and treated worldwide,” said Brandon Suh, CEO of Lunit. “This marks the start of a new era of collaboration and impact across every stage of cancer care.” To accelerate and enhance regional growth, Lunit is evolving its global operations under a unified structure. Lunit International (formerly Volpara Health Technologies) encompassing all former Volpara operations across the U.S., Oceania, Europe, and Asia, will lead Lunit’s business development and customer engagement efforts in these markets. In parallel, Lunit is transitioning part of its global sales organization into these regional hubs, allowing the Seoul headquarters to focus on AI research, innovation, and new product development—further sharpening its global focus and specialization. As part of this milestone, Lunit has launched a newly designed website ( www.lunit.io/en ), reflecting its new digital identity and serving as a single digital gateway to its AI solutions, research, and corporate resources. “Our mission remains the same,” added Suh. “We aim to make AI the new standard for the entire cancer journey. We want every patient, regardless of geography or resources, to benefit from the same level of precision and insight, ensuring equitable access to life-saving diagnostics worldwide.” About Lunit Founded in 2013, Lunit (KRX: 328130) is a global leader on a mission to conquer cancer through AI. Our clinically validated solutions span medical imaging, breast health, and biomarker analysis—empowering earlier detection, smarter treatment decisions, and more precise outcomes across the cancer care continuum. Following the integration of Volpara, Lunit now offers a comprehensive suite spanning risk prediction and early detection to precision oncology. Our FDA-cleared Lunit INSIGHT suite and breast health solutions support cancer screening in thousands of medical institutions worldwide, while Lunit SCOPE platform is used in research partnership with global pharma leaders for biomarker development and companion diagnostics. Trusted by over 10,000 sites in more than 65 countries, Lunit combines deep medical expertise with continuously evolving datasets to deliver measurable impact—for patients, clinicians, and researchers alike. Headquartered in Seoul with global offices, Lunit is driving the worldwide fight against cancer. Learn more at lunit.io/en .
- November 6, 2025Business
Yamaha Motor to Propose Next-Generation Transport Solutions at iREX2025 - Combining Two Kinds of "Transportation" to Create Efficient Smart Factories -
Yamaha Motor Co., Ltd. (Tokyo: 7272) announced today that it will attend the International Robot Exhibition 2025 (iREX2025), one of the world's largest robot trade shows (organizers: Japan Robot Association and Nikkan Kogyo Shimbun Ltd.), set to be held at Tokyo Big Sight from December 3 (Wed.) to December 6 (Sat.). The Yamaha Motor booth will be located in East Hall 7 and will exhibit products and services under the theme of "μ to km - Robotics Transportation." Yamaha Motor is focusing on transportation as one key perspective for creating smart factories. Building on its exhibition concept from 2023, the Company will introduce a unique combination of transportation solutions that span micron-level positioning accuracy to inter-factory transport across kilometers. At the venue, Yamaha Motor will present demonstrations of its newly developed Linear Conveyor Module and 7-axis Yamaha Motor Cobot, along with solution proposals that combine compact automated guided vehicles (AGVs) with autonomous transport vehicles designed for both indoor and outdoor use which utilize the Company's golf car technology. (Pic:2025 International Robot Exhibition Yamaha Motor Booth (CG image)) Robotics and intelligent technology are fields that Yamaha Motor has positioned as the foundations for achieving its Long-Term Vision of ART for Human Possibilities: Let's strive for greater happiness. The Company aims to offer solutions that enable people to work smarter by automating transportation and other routine tasks. Main Exhibits Linear Conveyor Module Linear Conveyor Module LCMR200 demo (CG image) On display will be the Linear Conveyor Module, a high-speed transport system that uses linear motors to deliver high throughput across various stages of the production process. Its modular structure enables highly flexible production line layouts and helps to enhance equipment space utilization. This year's exhibit will feature the newly developed oval-type linear transport system, a high-payload model for applications where work pieces exceed the standard load capacity, a live demonstration when paired with a surface mounter, and a demo showcasing slider return functionality using the Free Module, which contributes to reducing overall equipment costs. Single-Axis Robots Various single-axis robots A wide variety of single-axis robots used in diverse applications, from assembly to inspection, will be on display, including Yamaha Motor's latest models. The lineup includes seven low-profile models that facilitate equipment downsizing, three high-precision models, and two types of long-stroke models capable of up to 4,000 mm of travel (belt-driven and ball-screw-driven). All models will be shown in motion with live demos. SCARA Robots YK1200XG large SCARA robot demo (CG image) The Company's extensive lineup of high-speed, high-rigidity, and high-precision SCARA robots (horizontal articulated robots) will be introduced alongside real-world case studies of how they are used and the improvements they have brought at Yamaha Motor. The exhibit will feature an impressive demo setup of the YK1200XG, which is capable of transporting payloads up to 50 kg at low cost, a demo combining a general-purpose feeder with 2D picking and a speed-monitoring unit, and an introduction to Yamaha Motor's latest AI-powered technologies currently in development. Collaborative Robot 7-axis collaborative robot Yamaha Motor will introduce its newly developed 7-axis collaborative robot designed to deliver smooth and fluid movement: the Yamaha Motor Cobot. It excels in working in tight spaces where traditional 6-axis robots struggle and can approach target objects by navigating around obstacles. It is also suitable for mounting on automated guided vehicles (AGVs) and autonomous mobile robots (AMRs). At the venue, Yamaha Motor will showcase several standalone application demos, along with a picking demonstration that combines a 3D camera with AI-based object recognition. Factory Transport Dual-mode AGV for riding and autonomous operation FG-01 This section of the booth will feature examples of combined systems, namely, an automated transport vehicle (FG-01) with an AGV, and a cobot integrated with an AGV. Yamaha Motor will also have the FG-01 on display, a self-driving vehicle for transport duties capable of operating in outdoor environments, e.g., traversing wet terrain, slopes, and uneven surfaces. Leveraging nearly 50 years of expertise with Yamaha Motor golf cars, the FG-01 features excellent traversing performance and high technical reliability. eve autonomy, a joint venture established by Yamaha Motor and TIER IV, offers the eve auto automated transport service with the FG-01 using TIER IV's self-driving technology. Achieving automated driving on factory premises contributes to solving issues such as labor shortages and ensuring safety.
- November 6, 2025Business
Yamaha Motor to Reveal YE-01 Electric Motocross Concept Model at EICMA 2025 - Seeking to compete in the new MXEP electric motocross racing series -
Yamaha Motor Co., Ltd. (Tokyo: 7272) announced that it will exhibit the YE-01 electric motocross concept model at EICMA 2025 (The International Two-Wheeler Exhibition) that began on November 4 in Milan, Italy. The YE-01 takes a fun-based approach toward achieving carbon neutrality and was jointly developed with French electric motorcycle manufacturer, Electric Motion SAS (CEO: Philippe Aresten). Yamaha Motor has previously competed in the FIM Trial World Championship with its TY-E electric trials bike and is currently supplying the powertrain for the Lola Yamaha ABT Formula E Team racing in the ABB FIA Formula E World Championship. The Company will leverage the electric control technologies, thermal energy management know-how, and other expertise gained through these demanding racing environments with the YE-01 toward the goal of entering the new MXEP electric motocross racing series in 2026. By taking on this new challenge in the world of motocross, the Company aims to further advance its EV technologies. Yamaha Motor has set a companywide Yamaha Motor Group Environmental Plan 2050 for achieving carbon neutrality throughout all of its business activities-including across the life cycles of its products-by 2050.*¹The Company will continue to conduct R&D into a variety of technologies, including electrification, that contribute to sustainability, pursuing a multi-pathway approach toward achieving carbon neutrality. The YE-01 is part of Yamaha Motor's initiatives to achieve its Environmental Plan and is one symbolic model representing the Company's commitment to electrification. As the Kando *²Creating Company, Yamaha Motor will continue delivering greater fun and excitement to customers through products that harness the unique appeals of electric power. *1 Other emissions outside of business activities that include offices, factories, and energy purchases (Scope 1 and 2) that include product use and raw material procurement (Scope 3). *2 Kando is a Japanese word for the simultaneous feelings of deep satisfaction and intense excitement that we experience when we encounter something of exceptional value.
- November 6, 2025Business
Indorama Ventures and Indovinya Global Leaders Represent the Group at the Climate Action Innovation Zone in São Paulo
Indorama Ventures Public Company Limited, a global sustainable chemical company, proudly joins the Climate Action Innovation Zone taking place this year in São Paulo (SP), from November 6 to 8, held for the fifth time in parallel with the UN Climate Change Conference (COP). The event brings together global leaders, companies, and policymakers committed to accelerating industrial innovation and sustainability. The event will feature executives from Indorama Ventures and Indovinya, its global specialty chemicals and surfactants business segment, reinforcing the Group’s commitment to multisector dialogue and collaborative development of sustainable and innovative solutions with key stakeholders in the chemical industry. Indorama Ventures will showcase a corporate booth at the event, underscoring its position as a global leader in the chemical industry with a diverse footprint, integrated portfolio, and strong commitment to accelerating the transition toward a circular and low-carbon future. Through its Innovate to 2028 sustainability roadmap and a range of innovative solutions, the company highlights how it is driving measurable impact across its value chain. The company will also showcase its milestone achievement of recycling over 150 billion post-consumer PET bottles from February 2011 through August 2025, reinforcing its market leadership in the global PET recycling industry. Yash Lohia, Executive President of Petchem and Chairman of the ESG Council, Indorama Ventures, said “In an era of challenging market dynamics, our commitment to sustainability remains unwavering. At Indorama Ventures, we recognize that the desire for a greener future needs to meet the reality of affordability—and this is precisely where innovation and collaboration matter most. By participating in the Climate Action Innovation Zone for the third consecutive year, we reaffirm our role in driving transformative solutions that balance economic resilience with environmental responsibility. Together with our partners, we aim to accelerate the transition to a circular, low-carbon future, ensuring that progress does not pause even in tough times.” Indovinya will participate with a booth and an active presence in the event’s discussions. Indovinya will be represented by Kim Knotts, Global Vice President of Environment, Health, Safety, Quality (EHSQ) and Sustainability, and Marina Donaldson, Sustainability Director, who lead the business segment’s global sustainability agenda. Their participation highlights Indovinya’s leadership role in driving the chemical industry’s transition toward more responsible and low-impact solutions. During the event, Indovinya will showcase initiatives, technologies, and targets that are propelling the transition to sustainable chemistry – with special emphasis on its wind energy self-generation project, developed in partnership with Casa dos Ventos, which already supplies 50% of Indovinya’s electricity consumption in Brazil. “Our participation in these discussions ahead of COP30 reinforces Indovinya’s commitment to combining innovation with social and environmental responsibility, helping the chemical industry move toward more sustainable, low-impact solutions,” says Kim Knotts, Global Vice President of Environment, Health, Safety, Quality (EHSQ) and Sustainability at Indovinya. In addition to its booth, Indovinya will host a roundtable discussion on November 7 at 3:30 p.m. (GMT-3), titled “Next-Generation Sustainability: Designing Solutions for the Chemical Industry of Tomorrow.” The debate will address the role of the chemical sector in creating a new generation of sustainable products. “We’ll discuss the main advances and gaps in the surfactants market, as well as regulatory signals pointing to the need for transformation. The panel will also explore topics such as digitalization, transparency, low-emission technologies, and the sourcing of renewable energy and raw materials,” explains Marina Donaldson, Sustainability Director at Indovinya.
- November 6, 2025Business
CapitaLand Investment exceeds equity target, raising over US$650 million with final close of CapitaLand Ascott Residence Asia Fund II
CapitaLand Investment Limited (CLI), a leading global real asset manager, has achieved final close for its value-add lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II), securing over US$650 million (approximately S$850 million[1]) in total equity commitments and co-investments across the fund and associated vehicles. This is above the fund’s US$600 million equity target and underscores continued investor confidence in the living and lodging sector as well as CLI’s investment and operational expertise in Asia Pacific. CLARA II will add approximately US$1.6 billion (approximately S$2.1 billion) to CLI’s total funds under management. Global investors in the fund include new and repeat capital partners, comprising a diverse pool of institutional investors, pension funds and financial institutions from Asia, Europe and North America. CLI has committed a 20% sponsor stake to ensure strong alignment. CLARA II targets opportunities in the living and lodging sector across gateway cities in Asia Pacific, focusing on unlocking value by transforming underutilised assets into high-performing living and lodging properties. CLARA II leverages the expertise of best-in-class operators in the sector, including CLI’s lodging business unit - The Ascott Limited, to enhance asset performance. The fund has deployed approximately half of its committed equity across three assets. CLARA II’s portfolio comprises a serviced residence and a coliving property in Japan, as well as a coliving property in Singapore[2]. Mr Andrew Lim, Group Chief Operating Officer for CLI, said: “The successful close of CLARA II reflects investors’ confidence in CLI’s deep investment expertise and active asset management capabilities to execute a disciplined value-add strategy in the fast-growing lodging and living sector. We are seeing increasing investor allocations into the sector attracted by their long-term growth potential. This is underpinned by trends such as rising mobility, the surge in ‘bleisure’ travel and demand for flexible living arrangements. Building on CLI’s investment experience in the living and lodging sector, we are well-positioned to develop and execute more targeted fund strategies, capitalising on high-potential opportunities in the market.” Mr Mak Hoe Kit, Managing Director, Lodging Private Equity Funds, CLI, said: “The strong support we have received from CLI’s international network of capital partners demonstrates investors’ trust in our capabilities and lodging fund strategy. Our competitive edge in seeing through the full life cycle of our assets is key to CLARA II’s value-add strategy. Through our first lodging private fund, we have demonstrated our proven track record of successful value-add and exits. The team remains disciplined in its project management and execution, adding significant value to the properties through reconfiguration and renovation, and swiftly bringing them to market. Returns on divestment for our previous assets such as lyf Ginza Tokyo and lyf Funan Singapore were above the fund’s target, generating alpha for our capital partners. We continue to tap on our deep investment and asset management expertise and network to identify and execute opportunities to deliver long-term returns for our stakeholders.” ------------------------------- Notes: [1] Based on an exchange rate of US$1 to S$1.29. [2] The properties are lyf Shibuya Tokyo and Citadines Shinjuku Tower Tokyo in Japan, as well as lyf Bugis Singapore in Singapore.
- November 5, 2025Business
Cathay Pacific’s daily direct flights between Hong Kong and Changsha take off
Cathay Pacific today welcomed the launch of its non-stop passenger flights between Hong Kong and Changsha, further expanding the Cathay Group’s Chinese Mainland network to 24 destinations served by Cathay Pacific and low-cost carrier HK Express. This new daily service provides customers from Hong Kong and across the globe with seamless access to the bustling capital of China’s Hunan Province, while those travelling from Changsha can conveniently connect to the Cathay Group’s global network of over 100 passenger destinations through its Hong Kong hub. To mark the start of the new service, Cathay Pacific held a launch ceremony at Changsha Huanghua International Airport, hosted by Cathay Group Chief Executive Officer Ronald Lam, Chief Customer and Commercial Officer Lavinia Lau, Director Chinese Mainland Arnold Cheng, Director Service Delivery Mandy Ng, and attended by distinguished guests including Deputy Party Secretary and General Manager Cui Wusong, Party Committee Member Wang Qidong and Marketing Director Zhou Yun from Hunan Airport Management Group, among others. The inaugural flight CX968 was welcomed with a special water salute at Changsha Huanghua International Airport, marking a new chapter in the enhanced connectivity between Hunan and Hong Kong. Cathay’s Arnold Cheng said: “The launch of our Changsha route marks another important step in Cathay’s strategic expansion in the Chinese Mainland, underscoring our unique position of having deep roots in Hong Kong, being proudly part of China and connecting the world. This new service reinforces our role in enhancing connectivity between key cities across the Chinese Mainland and the rest of the world, making travel between Hong Kong, Changsha and beyond more seamless for our customers, while showcasing the vibrancy and rich heritage of Hunan Province to travellers from around the globe.” Hunan Airport Management Group Marketing Director Zhou Yun said: “Hong Kong is an important gateway between Hunan and the world. The direct flights between Changsha and Hong Kong not only make travelling between the two cities easier, but also foster economic, cultural and people-to-people exchanges between Hunan and Hong Kong. With the launch of the new route, travellers from Hunan can enjoy added convenience through seamless check-in and baggage through-check services to connect to over 100 destinations worldwide. At the same time, global travellers can conveniently transit via Hong Kong to reach Changsha. The new service also helps deepen cooperation between Hunan and Hong Kong, promote inbound tourism to Hunan and advance the opening-up of the province. The Airport Group will continue to work closely with all parties to ensure an efficient route operation, while using this as a new starting point to further expand its global network and contribute to Hunan’s development.” Cathay Pacific’s Hong Kong-Changsha service is operated using its state-of-the-art Airbus A321neo aircraft, featuring Business and Economy cabins. Customers can also enjoy the airline’s award-winning inflight entertainment experience during their journey. Flight schedules are as follows (all times local): Changsha marks the Cathay Group’s fifth new destination in the Chinese Mainland launched in 2025, alongside Urumqi operated by Cathay Pacific and Changzhou, Yiwu and Guiyang operated by HK Express. To cater to growing travel demand, Cathay Pacific has also increased flight frequencies on other key routes in the Chinese Mainland, including Beijing, Guangzhou, Chengdu and Shanghai. The Cathay Group will operate more than 330 return flights per week between Hong Kong and the Chinese Mainland during the winter travel peak. The Cathay Group is investing well over HK$100 billion to reinforce Hong Kong as an international aviation hub and elevate the customer experience, including an extensive redevelopment plan for its global lounges. Customers can enjoy an enhanced journey through Cathay Pacific’s newly redesigned flagship lounge at Beijing Capital International Airport, which reopened in August this year. Cathay Pacific also operates lounges at Shanghai Pudong International Airport and the Shekou Cruise Home Port. For more information, please visit www.cathaypacific.com . (Pic:Cathay Pacific celebrated the launch of its non-stop daily service to Changsha with a special ceremony, joined by Cathay Group Chief Executive Officer Ronald Lam (eighth from left), Cathay Chief Customer and Commercial Officer Lavinia Lau (seventh from right), Hunan Airport Management Group Deputy Party Secretary and General Manager Cui Wusong (eighth from right), Deputy Director and First-level Inspector of the Hong Kong and Macao Affairs Office of the People’s Government of Hunan Province Guo Xiangli (seventh from left), and Second-level Inspector of the State-owned Assets Supervision and Administration Commission of Hunan Province Dai Xuefeng (sixth from right), among others) (Pic:Cathay Group Chief Executive Officer Ronald Lam (ninth from left), Chief Customer and Commercial Officer Lavinia Lau (eighth from right), Director Chinese Mainland Arnold Cheng (eighth from left) and Director Service Delivery Mandy Ng (seventh from left) welcomed the arrival of the inaugural flight at Changsha Huanghua International Airport.)
- November 5, 2025Business
Festive Wonders by Mandarin Oriental: Where Wonder Finds Its Craft
At Mandarin Oriental , the festive season is a celebration of craft and imagination, where timeless traditions meet playful artistry and every creation tells a story. This year's Festive Wonders campaign invites guests to rediscover the season through the lens of craftsmanship, culture and creativity, where joy is shaped by the human touch and expressed in moments both grand and intimate. (Campaign creative by Attic Studio) Developed in collaboration with Attic Studio, renowned for its work with global luxury maisons, the campaign is a tribute to the art of making. Every illustration, every frame, has been hand drawn with meticulous care, each animation an intricate expression of the craft of celebration. Inspired by Mandarin Oriental's distinctive properties and reflecting the diverse cultures and destinations in which we operate, these animations capture the spirit of the season through authenticity and artistry. More than a celebration of Christmas, Festive Wonders honours the end-of-year moment as a universal time of connection and reflection. It is a story shaped by the Masters of Craft whose artistry in hospitality defines Mandarin Oriental, evoking wonder, warmth and togetherness. WINTER DELIGHTS: FLAVOURS OF THE SEASON Raise a glass, share a table and savour the magic of festive dining at Mandarin Oriental. Each dish becomes a story of the season, crafted with imagination and flair. From refined tasting menus in Paris and London to ocean-view feasts in Singapore and Bangkok, guests are invited to indulge in spiced winter desserts, sparkling pairings and comforting, reimagined classics. Every table becomes a stage for celebration – where culinary craftsmanship brings people together and the warmth of the season is shared in every flavour. Discover our Winter Delights here . THE ART OF GIVING The beauty of the season lies in the joy of giving. A Mandarin Oriental Gift Card offers the gift of choice, an invitation to experiences that linger long after the festivities fade. Whether a candlelit dinner, a soothing spa ritual or a weekend escape, each moment is crafted to delight and to celebrate the people who make the season truly meaningful. Explore The Art of Giving here. PRIVATE FESTIVE RETREATS For those seeking a more intimate celebration, Private Festive Retreats offer a home crafted for togetherness. Mandarin Oriental's collection of Exceptional Homes around the world provides the perfect setting for families and friends to gather. From fireside dinners to sun-lit gatherings, every stay is enriched with festive touches and the comfort of Mandarin Oriental hospitality – creating cherished memories that last well beyond the season. Find your perfect home-away-from-home here. UNWRAP THE MAGIC: A FESTIVE OFFER Between 1 December 2025 and 11 January 2026, guests can unwrap the magic with 10% off their festive stay, along with complimentary access to exclusive experiences, including: Complimentary breakfast for two (excluding room service) Festive in-room amenities upon check-in – from seasonal welcome cocktails to artisanal chocolates or local festive specialties Exclusive festive experience access, such as a Holiday Craft Workshop, Christmas Market, or Christmas Cooking or Baking Class Members of Fans of M.O., Mandarin Oriental's recognition programme, enjoy a choice of additional privileges combinable with this offer, designed to make every festive stay even more personal and memorable. Find all offers here. This festive season, Mandarin Oriental invites guests to embrace the magic of imagination, the warmth of connection and the beauty of craft. Each hotel and residence becomes a canvas of creativity, a place where the spirit of the season is brought to life with artistry, authenticity and joy. About Mandarin Oriental Hotel Group Mandarin Oriental is the award-winning owner and operator of some of the world's most luxurious hotels, resorts and residences. Each outstanding property reflects the Group's dual Asian heritage, while proudly distilling the Essence of the Destination, reflected in every hotel's own fan - carefully crafted by local artisans. Driven by a passion for the exceptional, every day, everywhere, the Group's mission is to craft time-enriching experiences that transform the ordinary to the exceptional and guests to fans through its legendary service. The Group now operates 44 hotels, 12 residences and 26 exceptional homes in 27 countries and territories with many more projects under development. Mandarin Oriental continues to drive its reputation as an innovative leader in luxury hospitality, delivering sustainable growth over the long term.
- November 5, 2025Business
Towngas completes first RWA tokenisation project
The Hong Kong and China Gas Company Limited (Towngas) has completed its first real-world asset (RWA) tokenisation project. Towngas is using a HK$100 million credit facility as the underlying asset for its subsidiary Towngas Telecom (TGT), which operates data centres and fixed network services. Chong Hing Bank is providing the credit facility, while Ant Digital Technologies’ Jovay Layer2 provides blockchain support to ensure the security and reliable circulation of tokenised information. Through the RWA tokenisation of loan information, key financial and operational data will be uploaded onto the blockchain in real time for verification and reference by authorised institutions. Towngas and Ant Digital Technologies signed a partnership agreement for this project during Hong Kong FinTech Week 2025. This marks a further deepening of cooperation since Towngas and Ant Digital Technologies signed a memorandum of understanding on 19 May this year, and represents Towngas’s first implemented project in the digital financing sector. The HK$100 million credit facility for TGT will be utilised to develop artificial intelligence (AI) data centres, AI Internet of Things solutions, and cross-border infrastructure projects. Mr Edmund Yeung Lui-ming, Executive Director and Chief Financial Officer of Towngas, said: “This RWA tokenisation project lays the foundation for the Group’s future goal of enhancing capital allocation efficiency and provides an innovative financing channel for the company’s business expansion.” Jovay is Ant Digital Technologies’ self-developed Layer2 blockchain platform, featuring high performance, high security and open interconnection. Ms Bian Zhuoqun, President of Blockchain Business at Ant Digital Technologies, stated: “We are honoured to provide technical support for this innovative financing project and will continue to offer compliant, secure and efficient technology solutions to financial institutions and real economy enterprises worldwide.” Mr Leo Lai, General Manager, Head of Corporate Banking Division at Chong Hing Bank, stated: “We sincerely thank Towngas for its trust and support of Chong Hing Bank. We will continue to explore diversified applications and cooperation ecosystems in the digital assets business, promoting financial innovation and working together to build a more dynamic and sustainable future.” Towngas stated that digital asset innovation (including RWA tokenisation) will, with the improvement of regional blockchain infrastructure and regulation, progressively move towards scale and normalisation, providing new financing and circulation channels for infrastructure assets, and strengthening the efficiency of the interface between Hong Kong’s digital finance and the real economy. - END - Press photos: Photo 1: Witnessed by Mr Edmund Yeung Lui-ming (2nd from left, back row), Executive Director and Chief Financial Officer of Towngas; Ms Diana Chung Wai-yee (1st from left, back row), Head of Group Finance & Strategy (Hong Kong Business) of Towngas; Mr Zong Jianxin (2nd from right, back row), Executive Director, Deputy Chairman and Chief Executive of Chong Hing Bank; and Mr Tom Chen (1st from right, back row), Executive Vice President, Head of Corporate Product & Business Development Division of Chong Hing Bank, Mr Walter Ngan Hing-wah (left, front row), General Manager – Telecommunications Business of Towngas Telecom, and Mr Leo Lai (right, front row), General Manager, Head of Corporate Banking Division of Chong Hing Bank, sign the Loan Tokenisation Agreement. Photo 2: Witnessed by Mr Edmund Yeung Lui-ming (left, back row), Executive Director and Chief Financial Officer of Towngas, and Ms Bian Zhuoqun (right, back row), President of Blockchain Business of Ant Digital Technologies, Mr Walter Ngan Hing-wah (left, front row), General Manager – Telecommunications Business of Towngas Telecom, and Mr Chen Xiangbin (right, front row), General Manager of Strategic Industry of Business Development Department of Ant Digital Technologies, sign the Technical Service Agreement. For media enquiries, please contact: The Hong Kong and China Gas Company Limited 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]
- November 5, 2025Business
Yamaha Motor Co., Ltd. Consolidated Business Results Summary - First Nine Months of Fiscal Year Ending December 31, 2025
From SHITARA, Motofumi President, Chief Executive Officer and Representative Director For the third quarter of fiscal 2025, the trends from the first half of the year continued, with year-on-year revenue remaining roughly the same and operating income declining. Our revenue was driven by steady sales in our core businesses of motorcycles and outboard motors in the Marine Products business. If looking at the third quarter on its own, the motorcycle business in particular posted both higher revenue and profits. On the other hand, recording impairment losses on tangible fixed assets in the Outdoor Land Vehicle business-something we had accounted for as a possible risk-and the gradual manifestation of performance impacts from U.S. tariffs led to decreased operating income. Regarding our outlook for the rest of the year, we are not making any changes to our revised full-year forecast. While the business environment will continue to be a challenging one, we will be meticulous with managing costs and focus on targeted selection and concentration of activities aimed at medium- to long-term growth. Consolidated Business Results Revenues for the period were 1,910.3 billion (a decrease of 66.6 billion yen or 3.4% compared with the same period of the previous fiscal year), operating income was 112.4 billion yen (a decrease of 88.6 billion yen or 44.1%), and net income attributable to owners of parent was 43.4 billion (a decrease of 92.7 billion yen or 68.1%). For the period, the U.S. dollar traded at 148 yen (an appreciation of 3 yen from the same period of the previous fiscal year) and the euro at 166 yen (a depreciation of 1 yen). Revenue fell due to lower unit sales in the Outdoor Land Vehicle (OLV) business as well as fewer personal watercraft sold in the Marine Products business. Operating income also declined due to higher R&D spending, increased labor and other SG&A costs, impairment losses on tangible fixed assets in the OLV business, the effects of U.S. tariffs, and other factors. Results by Business Segment Land Mobility Business Revenues were 1,228.0 billion yen (a decrease of 17.7 billion yen or 1.4% compared with the same period of the previous fiscal year) and operating income was 88.9 billion yen (a decrease of 27.7 billion yen or 23.7%). For the motorcycle business in developed markets, sales grew in Japan, but lower demand in Europe and the U.S. led to slightly lower numbers overall than last year. In emerging markets, while there are still some lingering effects from the Q1 temporary suspension of production and shipments in Vietnam, unit sales rose in the Philippines, Thailand, and Indonesia. As a result, total unit sales and revenue for the business remained about the same as last year. For operating income, rising procurement costs and other factors negatively impacted the Company's marginal profit ratio, and higher R&D spending, increased labor and other SG&A costs, and the effects of U.S. tariffs pushed profits down. In the Smart Power Vehicles business, i.e., electric wheelchairs, electrically power-assisted bicycles (eBikes) and their drive units (e-Kits), unit sales surpassed last year's numbers, but due to the model mix, revenue decreased. Regarding operating income, reductions in SG&A expenses and the rebound from last year's inventory valuation reduction helped shrink operating losses. Also, Yamaha Motor's third quarter consolidated business results include the performance recorded by Yamaha Motor eBike Systems GmbH in Germany during the period of August to September 2025. Marine Products Business Revenues were 399.3 billion yen (a decrease of 16.3 billion yen or 3.9% compared with the same period of the previous fiscal year) and operating income was 49.2 billion yen (a decrease of 30.0 billion yen or 37.9%). Outboard motor demand remained about the same as last year. While sales in the U.S. and Europe were healthy, lower sales primarily in Asia resulted in outboard unit sales overall staying flat. For personal watercraft, demand declined in Yamaha Motor's main market of the U.S. and unit sales also fell below last year's results. As a result, revenue for the Marine Products business overall decreased. Operating income also declined due to lower unit sales, higher R&D spending, increased labor and other SG&A costs, the effects of U.S. tariffs, and other factors. Outdoor Land Vehicle Business Revenues were 111.4 billion yen (a decrease of 26.4 billion yen or 19.2% compared with the same period of the previous fiscal year) with an operating loss of 26.3 billion yen (up from an operating loss of 2.1 billion yen). With recreational vehicles (all-terrain vehicles and ROVs), market demand was roughly the same as last year. Sales of Yamaha ATVs and ROVs declined, and after accounting for the impact of U.S. tariffs and recording impairment losses on tangible fixed assets, revenue and profits for the business as a whole decreased. In the Low-Speed Mobility business (golf cars, etc.), overall market demand contracted and sales of Yamaha products-particularly in the main market of the U.S.-also declined. Together with higher SG&A expenses, the effects of U.S. tariffs, and other factors, the business took in lower revenue as well as lower profits. Robotics Business Revenues were 75.9 billion yen (a decrease of 1.5 billion yen or 2.0% compared with the same period of the previous fiscal year) with an operating loss of 2.5 billion yen (up from an operating loss of 2.2 billion yen). Higher demand for generative AI applications and advanced packaging yielded higher sales of Yamaha semiconductor back-end process manufacturing equipment. However, surface mounter and industrial robot unit sales fell below last year's numbers, resulting in roughly the same level of overall revenue for the business as the previous year, and higher SG&A expenses led to a greater operating loss. Financial Services Business Revenues were 84.0 billion yen (a decrease of 100 million yen or 0.2% compared with the same period of the previous fiscal year) and operating income was 13.5 billion yen (a decrease of 2.3 billion yen or 14.3%). While financial receivables increased, the impact of foreign exchange rates left revenue roughly on par with last year. Operating income decreased as gains recorded in the previous fiscal year from interest rate swap valuations turned into valuation losses in the current fiscal year. Other Products Business Revenues were 11.7 billion yen (a decrease of 4.5 billion yen or 27.9% compared with the same period of the previous fiscal year) with an operating loss of 10.4 billion yen (up from an operating loss of 6.3 billion yen). Forecast of Consolidated Business Results Regarding the forecast consolidated business results for the fiscal year ending December 31, 2025, no changes have been made to the forecast made on August 5 when announcing the Company's half-year fiscal results (including the assumed foreign exchange rates): Revenue: 2,570.0 billion yen Operating Income: 120.0 billion yen Net Income: 45.0 billion yen No changes have been made to the total annual dividend forecast of 50 yen per share announced on February 12, 2025.
- November 4, 2025Business
JD.com’s Vision for a Super Supply Chain and the Asia-Pacific Import Doubling Plan: Highlights from APEC 2025
At the APEC CEO Summit 2025 in Gyeongju, South Korea, on October 31, JD.com’s Founder and Chairman Richard Liu and CEO Sandy Xu reaffirmed our commitment to driving a thriving Asia-Pacific economy. They introduced JD.com’s “Super Supply Chain,” a resilient, efficient network rooted in China, with a global reach, including strategic hubs located across the Asia-Pacific region, designed to ensure stable connectivity and minimize disruption risks. Over the next three years, JD.com will launch its ambitious Asia-Pacific Import Doubling Plan, doubling product imports from APEC countries to foster regional trade. Speaking at the summit’s session on “Business Strategies Through Enhanced Connectivity Within APEC,” CEO Sandy Xu highlighted how JD.com is tackling global uncertainties with stability as a cornerstone. She told the summit that for more than two decades, JD.com has built a stress-tested supply chain infrastructure, which is evolving into a Super Supply Chain , shifting from single-point security to system-wide resilience and from reactive fixes to proactive risk prevention, ensuring robust and reliable operations. This stability stems from JD.com’s localized infrastructure, explained Sandy Xu, adding that through its Global Smart Supply Chain Network, JD.com has established over 130 different types of overseas warehouses spanning 1.3 million square meters and launched dozens of international air-cargo routes. By hiring locally and creating two-to-three-day delivery networks with regional warehouses, JD.com is building an efficient supply chain that uses the Asia-Pacific as its hub while extending globally, she added. Leveraging this Super Supply Chain, JD.com is advancing our brands’ GigaGrowth Plan , which will bring 1,000 new overseas brands to China through cross-border e-commerce, driving more than 10 billion yuan in sales, while introducing 1,000 Chinese brands to global markets. Additionally, our Asia-Pacific Import Doubling Plan will double imports from APEC countries over the next three years, supporting regional economic growth. As Sandy Xu emphasized, JD.com is committed to fostering more stable, smarter, greener, and warmer connectivity as a dedicated member of the APEC business community. “ J ourney Together, D ream as One,” she concluded, calling for collective action to build a brighter, more connected Asia-Pacific future. For international brands : Partner with us to unlock China’s immense market and fuel global expansion! https://corporate.jd.com/forPartners ([email protected])
- November 4, 2025Business
FPT pays tribute to Her Majesty Queen Sirikit, The Queen Mother
Frasers Property Thailand humbly expresses its profound condolences on the passing of Her Majesty Queen Sirikit, The Queen Mother, with deep gratitude for Her Majesty's boundless grace and benevolence. Panote Sirivadhanabhakdi, Group Chief Executive Officer of Fraser Property Limited , together with the Board of Directors and the management team of Frasers Property (Thailand) Public Company Limited, led by Lim Hua Tiong, Chief Executive Officer , held a ceremony to express their profound condolences and pay tribute before the portrait of Her Majesty Queen Sirikit, The Queen Mother, at One Bangkok’s Tower 4. Her Majesty devoted her life to countless royal duties alongside His Majesty King Bhumibol Adulyadej The Great, all undertaken for the happiness and well-being of the people, as well as for the prosperity and stability of Thailand. Of particular note was the establishment of the SUPPORT Foundation of Her Majesty Queen Sirikit, The Queen Mother, which has benefited the nation by generating sustainable income for Thai people and reviving traditional Thai arts and crafts as part of the nation's cultural heritage. Her Majesty also championed the revival of Khon, the exquisite classical masked dance drama, and restored it to become a source of national pride and international acclaim for Thailand. Her Majesty dedicated herself to public health initiatives, served as President of the Thai Red Cross Society, and supported nature and environmental conservation, once famously stating: "His Majesty is the water, I shall be the forest—the forest that offers loyalty to the water." With heartfelt gratitude for Her Majesty's compassion, perseverance, and exceptional wisdom in all endeavours, Her Majesty embodied love, sacrifice, and steadfast commitment to the well-being of the Thai people. For these virtues, Her Majesty is revered with the title “Mother of the Nation,” that is deeply cherished and respected by all Thais. Frasers Property Thailand humbly honours Her Majesty's immeasurable grace and pledges to carry Her Majesty’s invaluable royal legacy.
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