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Property

CPN Set To Launch First Phase Of Central Park

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Central Pattana Plc (CPN), Thailand’s leading real estate developer, will open the first phase of its 43rd shopping centre, Central Park, on September 4, aiming to attract 25 million visitors annually. The new mall is part of the Dusit Central Park mixed-use development, which spans 130,000 square metres of gross building area. The project also includes an office tower, hotel, and residences, with a total investment of 46 billion baht across 23 rai of land. The Central Park brand specifically refers to the shopping centre and office tower. Nattakit Tangpoonsinthana, CPN’s chief marketing officer, said the first phase will launch under the theme “Here for All of You”, with a strong focus on gastronomy. One of the highlights is the Edible Exhibition, turning the mall into an immersive art experience where the building itself becomes edible art. The new shopping centre is part of the Dusit Central Park mixed-use development. The full opening celebration is scheduled for November and will feature additional global brands. CPN aims to position Central Park as Asia’s culinary landmark, offering international dining, art and fashion events, and curated lifestyle experiences throughout the year. After the grand opening, Central Park is expected to welcome over 25 million visitors yearly, or roughly 70,000 per day, including both locals and international tourists. Kunayudh Dej-udom, asset director at Central Park, said the development merges urban living with nature, strategically located near Silom and Rama IV roads, opposite Lumpini Park. Designed for future flexibility, all four components—shopping centre, hotel, office, and residences—are connected through green spaces, including a seven-rai rooftop park. Central Park will feature more than 550 top brands, including Thailand debuts for Kiwamiya, a teppanyaki restaurant serving authentic Japanese wagyu steak; Koubai, a premium shabu-shabu outlet; Long Jing, offering Chinese fusion cuisine from Hangzhou; and Super Matcha, a South Korean green tea brand. The mall will also showcase Michelin-listed eateries and 70 street food legends. Nattakit emphasized that the development aims to create a landmark destination that elevates Bangkok’s global profile while inspiring new lifestyle trends and experiences.

News

KNM Group Targets PN17 Exit Through Recovery Plan

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PETALING JAYA, KNM Group Bhd has unveiled its proposed regularisation plan aimed at exiting Practice Note 17 (PN17) status. A central element of the plan involves the disposal of its German unit, Deutsche KNM GmbH (DKNM), for €270 million (approximately RM1.3 billion). The group also plans to reduce and consolidate its shares from 4.05 billion to 1.01 billion, a move intended to eliminate accumulated losses. Upon completion, KNM expects to operate with minimal debt, retained reserves of RM240 million, and a net asset base of RM284 million, up from RM273 million previously. The regularisation plan is tied to a creditor-approved scheme of arrangement, which seeks to restructure RM1.188 billion in debt and waive RM320 million in interest and penalties. KNM slipped into PN17 status in October 2022 after its external auditor raised uncertainties over the company’s ability to continue operating. In addition, KNM will secure an RM100 million loan from existing creditors and RM204 million in bonds to fund working capital and settle remaining obligations. KNM slipped into PN17 status in October 2022 after its auditor flagged significant uncertainties over the group’s ability to continue as a going concern. Chairman Tunku Yaacob Khyra said the plan reinforces KNM’s financial foundation and sets the stage for long-term sustainability. Chief executive officer Ravindrasingham Balasingham added that the disposal of DKNM and the successful execution of the plan are critical for the company’s turnaround. “With continued support from creditors and shareholders, we are confident of restoring KNM to profitability and long-term growth. The RM100 million in working capital will be essential in reigniting operations,” he said. Approval for the disposal of DKNM and the regularisation plan will be sought at an upcoming extraordinary general meeting.

Energy & Technology

Ford-SK On JV Kicks Off Battery Output At Kentucky Facility

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SEOUL, SK On, the battery unit of South Korea’s SK Group, announced that its 50:50 joint venture with Ford Motor Co. has started commercial production of electric vehicle (EV) batteries at its first plant in Kentucky. The venture, named BlueOval SK, was established in July 2022 with a planned investment of 16 trillion won (US$11.4 billion) to build three battery plants in the U.S. — two in Kentucky and one in Tennessee. Batteries produced at the Kentucky 1 facility will power Ford’s all-electric F-150 Lightning pickup and extended-range E-Transit cargo van, the company said in a statement. “The start of production marks a major milestone that strengthens our competitiveness in the EV battery market,” said BlueOval SK CEO Michael Adams, adding that the project is creating high-quality U.S. jobs, reinforcing the domestic supply chain, and accelerating the transition to zero-emission vehicles. The Tennessee plant is scheduled to begin operations next year, while the opening date for Kentucky 2 has not yet been finalized. SK On is also expanding its U.S. footprint amid higher import tariffs. In addition to Kentucky 1, it runs two plants in Georgia and is building another there with Hyundai Motor Group, targeted to start production in 2026. Hyundai Motor Co. and Kia Corp., which operate assembly plants in Georgia and near Atlanta, currently source batteries from SK On’s Georgia facilities.

Property

MPKj Picks Mah Sing To Lead RM52.5 Million Flyover Project

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KUALA LUMPUR, Mah Sing Group Bhd has been appointed by the Kajang Municipal Council (MPKj) as the lead developer for a new RM52.5 million flyover at the Jalan Tasik Kesuma–Jalan Semenyih intersection in Bandar Tasik Kesuma. The project, involving 11 developers, is set to begin in early 2026 and targeted for completion by early 2028. Once finished, the three-kilometre flyover will be handed over to MPKj and supported by upgraded roads and junctions along Jalan Semenyih to improve traffic flow and safety. Mah Sing group chief executive officer Datuk Voon Tin Yow said the company is honoured to lead the project and committed to ensuring smooth delivery. He added that the flyover will ease congestion, shorten travel times, and improve accessibility for residents, businesses, and visitors. MPKj president Nazli Md Taib welcomed Mah Sing’s leadership and thanked the participating developers for their cooperation in jointly funding the project, describing it as a strong example of public-private collaboration. The project is also strategically located near Mah Sing’s M Legasi residential township in Semenyih.

Investment & Market Trends

Second EV Launch Fuels 31% Revenue Growth For Xiaomi

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Xiaomi Corp reported a 31% rise in quarterly revenue, beating expectations, as strong demand for its second electric vehicle (EV) helped offset weaker smartphone sales. Revenue reached 116 billion yuan (US$16.2 billion or RM68.5 billion), slightly above analyst forecasts of 115 billion yuan. Net profit nearly doubled to 11.9 billion yuan. The company delivered 81,302 cars in the second quarter, bringing first-half deliveries to over 157,000 — setting Xiaomi on track to surpass its 2024 total. The surge was driven by the YU7 sport utility vehicle, launched in late June by co-founder Lei Jun. High demand has pushed wait times for the model to more than a year, underscoring both consumer appetite and production bottlenecks. Xiaomi has pledged US$10 billion to compete with industry leaders Tesla Inc and BYD Co, with a goal of breaking into the world’s top five carmakers. Lei said the EV unit could turn profitable in the second half of 2025. Xiaomi’s market value has surged by about US$120 billion over the past year on optimism around its EV expansion, despite challenges. A fatal crash involving its SU7 sedan in March, which had its Autopilot engaged, prompted regulatory scrutiny of advanced driver-assistance systems. Meanwhile, Beijing has sought to ease an industry-wide price war that has squeezed margins. Xiaomi has so far avoided heavy discounting, thanks to robust demand. Beyond EVs, Xiaomi’s other businesses also showed growth. Its Internet of Things (IoT) division is estimated to have recorded a 30–40% sales jump, supported by gains in household appliances and government subsidies. However, smartphone sales slowed to mid-single-digit growth despite steep discounts during June’s shopping festival, which pressured margins. Gross margin expanded year-on-year to 22.5%, supported by EV scale and a stronger IoT mix, though slightly weaker than in the previous quarter. The company is also investing in artificial intelligence and semiconductor design. It recently unveiled its three-nanometre Xring O1 chip, built for devices such as the Tablet 7 Ultra, and plans to invest US$7 billion into chip development this decade.

News

MOF: LHDN Returns RM9.35 Billion In Tax Refunds To 3 Million Taxpayers

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KUALA LUMPUR,  The Inland Revenue Board (LHDN) has refunded a total of RM9.35 billion in excess taxes to more than three million taxpayers as of June 30, 2025, according to the Ministry of Finance (MOF). In a written parliamentary reply on Tuesday, the ministry said that of the total taxpayers involved, 1.07 million have received full refunds amounting to RM2.73 billion. The statement was in response to Chong Chieng Jen (PH-Stampin), who had asked about the total outstanding refund amount, reasons for delays, and the timeline for repayment. The MOF explained that corporate tax refunds, which usually involve larger sums, are prioritised based on the length of delay, with older cases handled first. “This ensures that all eligible taxpayers receive at least a partial refund within the year, while the remainder will be disbursed either in the same year or the following year, depending on the government’s financial position,” the ministry said. On another matter, the MOF clarified that the sales tax on low-value goods (LVG) has been in effect since Jan 1, 2024, and is not part of the current sales tax review. The LVG tax applies to imported goods worth below RM500 that are sold online or through registered marketplaces, while locally manufactured goods are exempt. The ministry was responding to Tan Sri Muhyiddin Yassin (PN-Pagoh), who had asked about the government’s strategy to ease the cost of living and reduce operational burdens for micro, small, and medium enterprises (MSMEs). The MOF stressed that the LVG tax only affects imported items purchased online, ensuring no additional burden is placed on local products or businesses.

Investment & Market Trends

Great Eastern Holdings To Issue 29.7 Million Bonus Shares And 443.6 Million Non-Voting Shares

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Great Eastern Holdings (GEH) has allotted and issued 29,711,041 bonus ordinary shares and 443,608,028 Class C non-voting shares to eligible shareholders, ahead of its trading resumption on Aug 21 at 9am. At an extraordinary general meeting (EGM) on July 8, less than 75% of minority shareholders supported the company’s proposed delisting. As a result, over 90% of all shareholders, including major shareholder Oversea-Chinese Banking Corp (OCBC), voted instead to amend GEH’s constitution to allow the issuance of non-voting Class C shares. On Aug 14, GEH announced that minority shareholders owning 29.7 million shares have elected to receive the bonus issue, and shareholders owning 5,423 shares voted to receive the Class C shares. Under this arrangement, minority shareholders could choose between receiving a one-for-one bonus issue or Class C shares, while OCBC committed to taking Class C shares. On Aug 14, GEH confirmed that minority shareholders holding 29.7 million shares opted for the bonus issue, while holders of 5,423 shares chose Class C shares. This move reduces OCBC’s stake from 93.7% to 88.19%, thereby restoring GEH’s public free float. Following the one-for-one bonus issue, shareholders effectively doubled their holdings — for instance, an investor with 1,000 shares now holds 2,000 shares as of Aug 21. With the issuance completed, GEH’s total share base now stands at 503,030,110 ordinary shares and 443,608,028 Class C non-voting shares, up from the previous 473,319,069 shares.

Investment & Market Trends

Ninja Van Expands Malaysian Trade With 44 Fresh Cross-Border Shipping Lanes

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KUALA LUMPUR, Ninja Van Malaysia has unveiled 44 new international delivery lanes, opening direct access for Malaysian businesses to major markets across Asia Pacific, North America, Latin America, the Middle East, and Europe. Chief executive officer Lin Zheng said that in today’s fast-paced e-commerce environment, every entrepreneur and business deserves the opportunity to connect with customers globally, not just domestically. “SMEs have long struggled with high shipping costs, complicated customs procedures, and limited overseas market access. Our new cross-border solution addresses these challenges by being seamless, affordable, and reliable. With rates starting from just RM30 — nearly 50% lower than many competitors — and delivery times between seven and 12 days, we’re making international trade far more accessible,” he said during the launch event today. Lin highlighted that the initiative reflects Ninja Van’s mission to empower local SMEs to scale beyond Malaysia’s borders while also contributing to the nation’s economic growth, innovation, and vision for a digitally-driven, globally competitive economy. In a statement, Ninja Van said that with its existing services to Singapore and the Philippines, the company now covers a total of 46 international destinations, making it one of the widest cross-border logistics networks available for Malaysian SMEs. The company added that its expanded service includes seamless platform integration, fast order processing, documentation support, door-to-door delivery, and full shipment tracking — providing SMEs with a cost-effective and reliable solution to reach global markets.

Media OutReach

Hani Terraced Fields: A Paradise Harboring Ingenious Technology

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BEIJING, CHINA – Media OutReach Newswire – 20 August 2025 – The year 2025 marks the 40th anniversary of China’s accession to the World Heritage Convention, a milestone that highlights the country’s commitment to preserving its cultural and natural treasures. Among these jewels, the Hani Terraced Fields in Yuanyang County of Honghe Hani and Yi Autonomous Prefecture, southwest China’s Yunnan Province, stand as a breathtaking testament to the harmonious coexistence of humanity and nature. Nestled on mountain slopes with the gradient ranging from 15 to 75 degrees, the terraces cascade in stunning layers and can include as many as 3,000 steps. Over a thousand years ago, the ancestors of the Hani people migrated from the north to a valley in southern China. Despite the challenging natural environment, they made the most of the mountains and waters. The Hani people cultivated over 1 million mu (approximately 66,666.67 hectares) of rice terraces, some situated at elevations exceeding 2,000 meters, according to Ma Chongwei, a professor of Yunnan University. No matter how high the mountain, water finds its way. The Hani people constructed thousands of channels to divert streams. These channels wind through villages and terraced fields before merging with rivers in the valleys. Channel maintainers oversee the water channels, keeping them clean and ensuring proper flow. For over a thousand years, the Hani people have used water allocation tools to distribute water into a network of irrigation channels and ditches, showcasing their farming wisdom. Throughout the long agrarian era, the Hani people transformed mountains and rivers, sharing this landscape with the Yi, Dai and other Chinese ethnic groups living downhill. Deeply integrated into the ethnic culture, the terraces have now become the eternal spiritual homeland of the Hani people. In the terraces lies a harmonious coexistence of humanity and nature, the agrarian wisdom attuned to natural rhythms and an enduring spirit of perseverance. Hashtag: #ChinaNewsService The issuer is solely responsible for the content of this announcement.

Media OutReach

Foxconn Technology Invests US$30 Million in Robocore to Expand into Medical and Elderly Care Robotics Market

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Projects 5X Revenue Growth by 2028, Accelerates Global Market Leadership and Paves the Way for IPO HONG KONG SAR – Media OutReach Newswire – 20 August 2025 – Robocore Technology Limited (Robocore), a partner company of Hong Kong Science and Technology Parks Corporation (HKSTP), is pleased to announce the recent completion of its Series D funding. As the world’s largest precision electronics manufacturer, Foxconn Technology Co., Ltd. (“FTC”), through its wholly-owned subsidiary Q-Run Holdings Limited, has made a strategic investment in Robocore’s wholly-owned subsidiary RoboTemi Global Ltd. This investment marks FTC’s official entry into the smart robotics market, bolstering its smart manufacturing and artificial intelligence (AI) ecosystem, while paving the way for Robocore’s future IPO. Robocore Technology Limited has recently completed its Series D financing. Its wholly owned subsidiary, RoboTemi Global Ltd. (RoboTemi Global), received investment from Q-Run Holdings Limited, a wholly owned subsidiary of Foxconn Technology Co., Ltd. (FTC), one of the world’s largest precision electronics manufacturers. Shown in the photo is RoboTemi Global’s temi robot series. The transaction involves a total potential investment of up to US$30 million from FTC, beginning with an initial US$10 million investment in preferred shares, acquiring a 6.6% equity stake in RoboTemi Global Ltd. The agreement also includes two subsequent investment tranches of US$10 million each, which may be exercised on the first and second anniversaries of the initial investment. Valuations for these tranches will be determined by mutual agreement or third-party assessment. “This is more than a capital injection — it’s an affirmation of our company’s future prospects,” said Mr Roy Lim, CEO of Robocore Technology. “With world-leading manufacturing and supply chain capabilities, FTC will join forces with us to accelerate our growth, expand into new markets, and help us stride confidently toward our IPO milestone.” Mr Eric Or, Acting Chief Operating Officer of HKSTP, said, “AI empowers Hong Kong’s long-term economic development. HKSTP is pleased to see Robocore’s rapid growth and global impact. Robocore’s successful funding round not only signifies that a world-leading technology enterprise has endorsed its core robotics technology, but also proves that Hong Kong’s tech ventures can firmly establish their position on the global stage.” Headquartered in Hong Kong Science Park, Robocore is the world’s leading open-platform service robotics enterprise. Its products are deployed at nearly 20,000 client sites worldwide. Additionally, it serves over 5,000 sites in the US, spanning hospitals, elderly homes, retail chains, and households. In New York State alone, more than 200 elderly homes use its temi robots to assist doctors in completing remote diagnoses within two minutes — significantly reducing insurance costs and improving medical coverage rates. Moreover, approximately 50 four-star and five-star hotels, 1,300 universities, secondary and primary schools, over one hundred smart buildings and shopping malls and 2,000 system integrators with development capabilities in the world are using Robocore’s products. With FTC’s strategic and manufacturing support, Robocore is expected to achieve three-fold revenue growth over the next three years and aims for a five-fold increase by 2028. The company’s growth will be primarily driven by accelerated expansion in the US, Europe, and Asia. Robocore plans to initiate its IPO process within five years, aiming to become one of the world’s fastest-growing service robotic enterprises. Proceeds from this funding round will be mainly used to strengthen Robocore’s telemedicine business in the US, Europe and Japan, launch new products for mainland China’s consumer market, and expand global sales and marketing operations. These initiatives aim to further consolidate its industry leadership position while preparing for a pre-2030 IPO. Hashtag: #Technology #robotics #robot #ftc https://www.robocore.ai/https://www.linkedin.com/company/robocore-ai/https://x.com/robotemihttps://www.facebook.com/robocoretechnology/https://www.instagram.com/robocoretechnologyRobotemi website: https://www.robotemi.com/youtube: https://www.youtube.com/@robocoreaihttps://www.youtube.com/@TemiRobot The issuer is solely responsible for the content of this announcement. About Robocore Technology Limited Robocore Technology Limited is a Hong Kong-based robotics company headquartered in the Hong Kong Science Park. Founded with a mission to transform human–robot interaction, Robocore designs, develops, and manufactures advanced robotics for healthcare, education, consumer, and smart facility management markets. Its wholly-owned subsidiary, RoboTemi Global Ltd., based in Israel, is the developer of the globally recognised temi robot, which is deployed in markets worldwide. For details, please visit: https://www.robocore.ai/ About Foxconn Technology Co., Ltd. Foxconn Technology Co., Ltd. (FTC, 2354.TW) is an independent listed company and a member of Foxconn Group, headquartered in New Taipei City, Taiwan. The company specializes in Original Design Manufacturing (ODM) services for electronic products, with core competencies encompassing precision metal processing, thermal module, and system assembly.

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