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9 EPF subsidiaries suffer losses for 3rd consecutive year

KUALA LUMPUR: Nine EPF subsidiaries have suffered losses for three consecutive years since 2021, with total losses in 2023 amounting to RM224.21 million. The Auditor-General’s Report 1/2025 stated that the nine subsidiaries suffered losses of RM76.51 million in 2022 and RM49.76 million in 2021. Kwasa Europe Sà rl recorded the highest loss of RM158.42 million in 2023, followed by Ameen Direct Equity I, LP (RM25.61 million), Kwasa Europe-I Sà rl (RM14.40 million), Naungan Sentosa Sdn Bhd (RM11.88 million), Kwasa Utama Sdn Bhd (RM8.61 million), YTR Harta Sdn Bhd (RM2.70 million), Kwasa Singapore Duo Pte Ltd (RM1.36 million), PPNK-Harta Sdn Bhd (RM840,000) and Common Icon Sdn Bhd (RM390,000). The report said three of the subsidiaries – Kwasa Europe, Kwasa Europe-I and Naungan Sentosa – suffered losses because of the capital structure of the subsidiaries, which was largely in the form of shareholder loans. “EPF, as the sole shareholder of the companies, gets a return in the form of income interest, which is used to pay dividends to contributors. “Meanwhile, Ameen Direct Equity I is a newly established fund (set up in 2021), with a long-term investment focus and has not yet generated enough income to cover operating expenses,” it  said. According to the A-G’s report, EPF was audited without reprimands, but it recommended that federal agencies strengthen revenue generation efforts to continue operations based on continuous efforts and reduce reliance on government grants. The report also recommended that federal agencies review the direction and business plans of subsidiary companies that have suffered losses for three consecutive years and have not provided proper returns. EPF owns 55 subsidiaries, 34 of which recorded profits in 2023.–BERNAMA

Investment & Market Trends, News

99 Speed Mart’s net profit rises 23% to RM490mil in FY2024

PETALING JAYA:  99 Speed Mart Retail Holdings Bhd’s (99 Holdings) net profit increased by 22.5% to RM490.26 million in the financial year ended Dec 31, 2024 (FY2024), from RM400.22 million in FY2023, in tandem with higher revenue and other operating income. “Revenue expanded by 8.3% to RM9.98 billion against RM9.21 billion previously,” the home-grown minimarket chain retailer said in a filing with Bursa Malaysia today. It said 99 Holdings had opened 252 more outlets in FY2024, bringing the total outlet count as at Dec 31, 2024 to 2,778, representing a 10% year-on-year growth, which positively contributed to the group’s revenue. “Apart from that, the bulk sales e-commerce platform also contributed approximately RM23.1 million in incremental revenue to the group in FY2024,” it added. “The group reported a 12.6% increase in total sales transactions to 465.5 million transactions in FY2024, partly offset by a 3.8% decrease in average basket size to RM21.40, driven by more customers opting for smaller, frequent purchases due to the convenience provided by 99 Holdings,” it said. The minimarket chain operator said other operating income rose 22.4% to RM814.8 million in FY2024, driven by higher distribution centre (DC) fees from suppliers due to an increase in DC fee rates, as well as higher product display fees following outlet expansion. “Other income increased by 43% to RM30.4 million mainly attributed to the interest income earned from the deposits placement using the initial public offering (IPO) proceeds as well as the sale income of recycled packaging waste,” it said. In a separate filing, 99 Holdings founder and CEO Lee Thiam Wah said 2024 has been a milestone year for the group, not only did the company successfully list, but it also exceeded its target by opening 252 outlets, surpassing the goal of 250 new outlets. “Our expansion continues as we enter Sarawak, a new and promising market for the company, with our Miri distribution centre and outlets set to open in March 2025. “Looking ahead, we remain focussed on our strategic goals, including reaching 3,000 outlets by the end of 2025 and further expanding our bulk sales e-commerce platform, which has shown encouraging growth across multiple regions,” he said. He added that with the proceeds from the IPO, 99 Holdings is well poised to accelerate its expansion and meet growing demand.–FMT

Media OutReach

Oregon State University President highlights AI, innovation, and global careers for Taiwanese students

TAIPEI, TAIWAN – Media OutReach Newswire – 25 February 2025 – As Taiwan continues to rise as a global powerhouse in semiconductors, AI, and advanced computing, Oregon State University (OSU) President Professor Jayathi Y. Murthy has made a compelling case for Taiwanese students to pursue world-class education and global career opportunities at OSU. The OSU delegation with alumni and newly admitted students in Taipei. Addressing OSU alumni, newly admitted students, and their families at an exclusive event organized by the OSU Foundation, Murthy emphasized OSU’s leadership in AI, robotics, semiconductors, and sustainability research, making it an ideal destination for Taiwanese students seeking world-class research opportunities and career prospects. “We provide the research environment, industry connections, and global opportunities to prepare OSU students to play a leading role in shaping the future of technology and innovation,” said Murthy. Founded in 1868, OSU is a premier Tier 1 research university, ranked among the top 1.4% of higher education institutions globally. With US$422 million in annual research expenditures and a goal to double that by 2030, OSU remains at the forefront of AI, advanced computing, semiconductors, and engineering research. It hosts the largest Computer Science program in the U.S. and world-renowned programs in engineering, robotics, AI, oceanography, and sustainability. Home to nearly 38,000 students from over 100 countries, OSU has a growing international student population, including more than 230 students from Taiwan. Murthy highlighted OSU’s interdisciplinary approach to tackling global challenges, stating: “Our faculty are at the forefront of research in AI and robotics, climate science, clean energy and biotechnology – areas that will define the future of technology and sustainability worldwide.” OSU’s impact in AI, advanced computing, semiconductors and robotics is underscored by its partnerships with global tech leaders, such as Google, Intel, NVIDIA, Amazon, and Tesla. Notably, NVIDIA Founder and CEO Jen-Hsun Huang, an OSU alumnus, and his wife Lori Mills Huang have made a transformative US$50 million philanthropic investment in the Jen-Hsun and Lori Mills Huang Collaborative Innovation Complex at OSU. Set to open in 2026, this state-of-the-art facility will house one of the most powerful supercomputers in the United States, supporting research in AI, climate science, sustainability, and beyond. “The Huang Collaborative Innovation Complex will be a game-changer for AI and climate science research,” Murthy noted. “It will empower OSU students and faculty to push the boundaries of innovation.” The event celebrated OSU alumni in Taiwan as well as newly admitted Taiwanese students who will soon embark on their academic journey at OSU. With parents in attendance, Murthy emphasized OSU’s student-centered approach, career-integrated education, and commitment to student success. “Our priority is to provide every OSU student with a strong foundation for success,” she said. “From our ‘Beyond OSU’ career initiative to our strong industry connections, we are committed to equipping students with the skills, experience, and networks to thrive in their chosen fields.” For more information, visit www.oregonstate.edu. Hashtag: #studyabroad #OSU #internationalstudents #intled #Taiwan #AI #Robotics #technology https://oregonstate.eduhttps://www.linkedin.com/school/oregon-state-university/ The issuer is solely responsible for the content of this announcement.

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Captiva Verde Welcomes Elder Sir Dr. Joe Michael to Matnaggewinu Development Corp (MDC) Advisory Board

VANCOUVER, BRITISH COLUMBIA – Newsfile Corp. – 24 February 2025 – Captiva Verde Wellness Corp. (CSE: PWR) (OTC Pink: CPIVF) (“Captiva Verde”) a public company listed on the Canadian Securities Exchange under the trading symbol PWR and further listed in the US OTC Market under the symbol CPIVF is proud to announce that Elder Sir Joe Michael, a highly respected leader within the Mi’kmaw Nation and Indigenous communities across Canada, has joined the Advisory Board of Matnaggewinu Development Corp (MDC). Elder Joe Michael, also known as “Dr. Joe Mike” brings decades of leadership, cultural wisdom, and advocacy for Indigenous communities, which will be invaluable to MDC’s mission of fostering Indigenous-led economic development and community empowerment. Elder Joe Michael was awarded an Honorary Doctor of Humanities from Acadia University in 2019 in recognition of his lifelong dedication to community service, cultural preservation, and leadership. He was notably the first Mi’kmaw member of the Royal Canadian Mounted Police (RCMP), where he served for 25 years. Throughout his distinguished career, he bridged traditional Mi’kmaw knowledge with contemporary policing practices, leading to the development of the RCMP’s Aboriginal Community Policing model, which remains an integral part of cadet training at the RCMP Depot in Regina. As Detachment Commander, he also held the esteemed role of the RCMP’s Pipe Carrier, performing sacred ceremonies and fostering cross-cultural understanding. Most recently, Elder Joe was appointed to the Mi’kmaq Grand Council, the traditional governing body representing Mi’kmaw people, where he serves as a Captain (Keptin). His work on the council focuses on strengthening community connections, preserving Mi’kmaw history, and advocating for the well-being of Indigenous people in the region. His recent knighthood from the Order of St. George, where he was honored with the title “Chevalier Joe Michael,” further underscores his lifelong commitment to “faith, service, and honor.” “Having Elder, Sir Joe Michael join the MDC Advisory Board is both an honor and a significant milestone for us,” said Jeff Ciachurski. “His extensive leadership experience, profound cultural insights, and deep connection to the Mi’kmaq Nation will guide MDC as we continue to develop initiatives that honor Indigenous traditions while advancing meaningful economic reconciliation and creating equitable opportunities for Indigenous communities.” Elder Joe’s appointment reinforces MDC’s commitment to culturally grounded leadership and highlights Captiva Verde’s dedication to supporting Indigenous-led development projects through meaningful collaboration and community engagement. “Joining the MDC Advisory Board is a generational opportunity to accelerate a new future where First Nations communities and businesses are equitably participating in Canada’s open trading economy, including new sectors like aviation and military equipment,” said Elder Sir Joe Michael. “I am proud to support a Mi’kmaq company that is breaking new ground and creating meaningful opportunities for our people.” On Behalf of the Board of Directors “Jeff Ciachurski” Jeffrey Ciachurski Chief Executive Officer and Director Cell: (949) 903-5906 E-mail: [email protected] The issuer is solely responsible for the content of this announcement. About Matnaggewinu Development Corp (MDC): MDC is an Indigenous-owned organization focused on creating sustainable economic opportunities for Mi’kmaw communities through strategic partnerships and community-driven initiatives. Matnaggewinu is 49% owned by Captiva Verde. About Captiva Verde: Captiva Verde is dedicated to supporting innovative, community-based projects that drive sustainability, economic development, and cultural preservation across Canada. Matnaggewinu (MDC) is 49% owned by Captiva Verde. Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Information This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws and United States securities laws (together, “forward-looking statements”). All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the expansion of Captiva’s health and wellness platform. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget”, “propose” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include those described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A (a copy of which is available under the Company’s SEDAR profile at www.sedarplus.ca). The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

Media OutReach

ISCA Forms Partnership with Xi’an Jiaotong-Liverpool University (XJTLU) to Establish Singapore Chartered Accountant Qualification Programme in China

SINGAPORE – Media OutReach Newswire – 24 February 2025 – The Institute of Singapore Chartered Accountants (ISCA) has signed a Memorandum of Understanding (MOU) with Xi’an Jiaotong-Liverpool University (XJTLU) in Suzhou, China, to establish pathways for students in China to pursue the Singapore Chartered Accountant Qualification (SCAQ). The newly-formed partnership marks the first collaboration with a university in China for ISCA, since the launch of its first ever Representative Office in Nanjing in November 2024. ISCA’s Partnership to Nurture Accountancy Talent in China Under the partnership, eligible undergraduate accounting students from International Business School Suzhou (IBSS) at XJTLU will enjoy exemptions for selected subjects under the Foundation Programme (FP) of the SCAQ. Upon completion of the FP, students will be conferred the Professional Business Accountant (PBA) title, which is the first step in their journey towards becoming a Chartered Accountant of Singapore. The exemptions provide XJTLU accounting students with an accelerated pathway towards a career in professional accountancy, and helps to further foster interest in accountancy as a study of choice in China. In addition, ISCA will award 20 scholarships amongst the top 5% of students annually, which will cover the fees of the FP. The collaboration between ISCA and XJTLU will be the first stage of a deeper and longer-term partnership between both institutions. Accounting students from IBSS will be connected with companies in China such as Tencent, DBS China, PwC China and the Singapore Nanjing Eco Hi-tech Island (SNECO), who have been recognised as an Accredited Training Organisations (ATO) of ISCA. The network of ATOs in China is expected to grow over the next few years. Professor Jorg Bley, Dean of IBSS, said: “We are immensely proud that our BA Accounting programme has become the first in China to receive accreditation from ISCA. This milestone not only underscores the global recognition of our programme’s academic rigor and quality but also reflects our commitment to nurturing future-ready accounting professionals who meet international standards. At IBSS, we strive to bridge East and West by providing our students with world-class education and opportunities to excel in a competitive global landscape. The cooperation with ISCA is a testament to our dedication to innovation, excellence, and the continuous pursuit of delivering value to our students and the broader business community.” The MOU was signed earlier today by Mr Tan Wei Luo, Divisional Director for Qualification, Market & Growth at ISCA, and Professor Jorg Bley, Dean of IBSS at XJTLU’s Suzhou Industrial Park campus. The signing ceremony was attended by leaders from Suzhou Industrial Park, representatives from ISCA and XJTLU, invited guests from the accounting and business sectors in China and Singapore, as well as the inaugural batch of 20 student scholarship recipients from IBSS at XJTLU. Establishing ISCA’s Presence in China As part of broader plans to expand ISCA’s presence in China, ISCA will also be launching ISCA Professional Services (PS) Centres in 10 cities around the world by June. These PS centres will serve as a conduit to promote regionalisation and availability of professional services such as sustainability, legal, and other corporate services, to meet the needs of Singaporean businesses in China and vice versa. The ISCA PS Centre is poised to amplify the demand for professional services and accounting expertise. Hence, our partnership with XJTLU marks a pivotal first step in our strategy designed to nurture and grow a robust pipeline of accounting professionals. This collaboration is essential in addressing the growing needs of the business ecosystem in China.” said Ms Claire Qian, ISCA Chapter Chairperson for Shanghai. “The cooperation between ISCA and XJTLU will deepen the cooperation and exchanges between China and Singapore in the field of accounting and other professional services,” said Mr Qian Fudan, Director (Performance and Asset Management Division) at the Financial Audit Bureau in Suzhou Industrial Park. “This will ensure the growth of more accounting talent with professional capabilities and global experience to support the vision and goal of building a world-class high-tech park with innovation and excellence.” Hashtag: #ISCA #Accountancy #DifferenceMakers #西交利物浦大学 The issuer is solely responsible for the content of this announcement. About the Institute of Singapore Chartered Accountants (ISCA) The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 39,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 9 countries. Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession. ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation. ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries. For more information, visit www.isca.org.sg.

Media OutReach

Sahm Capital Empowers Investors at CMF Riyadh 2025 Investor Bootcamp

RIYADH, SAUDI ARABIA – Media OutReach Newswire – 24 February 2025 – Sahm Capital, a leading financial services provider, empowered investors at the CMF Riyadh 2025 Investor Bootcamp. Hadeel Bedeeri, General Manager of Sahm Capital, led a session on navigating the IPO process, equipping attendees with essential knowledge to thrive in Saudi Arabia’s evolving capital market. The Investor Bootcamp, held on February 19th, 2025, is part of CMF Riyadh’s efforts to engage the public and university students in discussions about financial literacy, investment strategies, and the growing opportunities within the Saudi capital market. This initiative aligns with the Kingdom’s Vision 2030 objectives to foster a more inclusive and educated investor base. During her presentation, Navigating the IPO Process in Saudi Arabia, Hadeel Bedeeri provided a comprehensive overview of Initial Public Offerings (IPOs), explaining their significance in the financial ecosystem and how investors can participate. “As Saudi Arabia continues to strengthen its financial sector under Vision 2030, it’s crucial that we equip everyone—from beginners to seasoned investors—with the skills and knowledge they need to seize these opportunities,” said Hadeel. “Today’s session aimed to inspire a diverse community of informed investors ready to shape the future of the Saudi economy.” Sahm Capital remains committed to advancing financial literacy through initiatives like Sahm Academy, integrated into the Sahm App. The platform offers market analysis, educational videos, courses, and research reports, catering to both novice and experienced investors. Additionally, users can access company profiles, financial statistics, and real-time news to make informed decisions. Sahm Capital’s efforts are further amplified through its strategic partnership with the Saudi Tadawul Group as the exclusive sponsor of the “Invest Wisely Program”. It is a ground-breaking financial literacy initiative designed to empower participants with the knowledge and skills necessary to become successful investors. As Saudi Arabia’s capital markets continue to evolve, Sahm Capital remains at the forefront, guiding investors through this dynamic landscape. Hashtag: #SahmCapital #CMA#Tadawul https://www.sahmcapital.com/https://www.linkedin.com/company/sahm-capital/posts/?feedView=allhttps://x.com/Sahm_Capitalhttps://www.facebook.com/sahmcapital1 The issuer is solely responsible for the content of this announcement. About Sahm Capital Sahm Capital, registered in Riyadh, holds full regulatory licenses from the Capital Market Authority (CMA) to provide Dealing, Advising, Custody, Arranging, and Managing Investments and Operating Funds Activities in the Securities Business services (license no. 22251-25). As the first fintech-driven financial company to achieve full CMA licensing, Sahm Capital has established itself as the fastest-growing member of the Saudi Exchange, leveraging proprietary technology and innovative financial solutions to deliver seamless, one-stop financial services. For more information, visit: www.sahmcapital.com About Sahm App Developed by Sahm Capital, the Sahm App is a proprietary trading platform specifically designed for investors in Saudi Arabia. It enables users to trade seamlessly across both the Saudi and U.S. markets, all at their fingertips. With its user-friendly interface and a diverse range of investment options, the Sahm App has quickly become one of the top three apps in the Free Finance category on Google Play in the Kingdom.

Media OutReach

TCMA Chairman elected as President of ASEAN Federation of Cement Manufacturers, joining forces to accelerate the development of the AFCM Decarbonization Roadmap

BANGKOK, THAILAND – Media OutReach Newswire – 24 February 2025 – Dr. Chana Poomee, Chairman of Thai Cement Manufacturers Association (TCMA), has been elected as the President of the ASEAN Federation of Cement Manufacturers (AFCM). In his two years term 2025–2027, he aims to strengthen collaboration among the eight ASEAN cement-producing member countries driving ASEAN Cement dynamically, accelerate the development of the AFCM Decarbonization Roadmap, and foster partnerships with global organizations to support carbon reduction initiatives. The eight ASEAN cement-producing member countries, at the AFCM Special Council meeting in Kuala Lumpur, Malaysia, unanimously the election of Dr. Chana Poomee, Chairman of TCMA to hold AFCM Presidency from 2025-2027. TCMA’s longstanding commitment and tangible progress in advancing Thailand’s cement industry toward net-zero carbon emissions by 2050 have been recognized by all sectors as a role model in various aspects. TCMA’s initiatives and actions, including the Thailand 2050 Net Zero Cement and Concrete Roadmap, the successful promotion of low-carbon hydraulic cement, an innovative ecosystem the Public-Private-People Partnership (PPP) model-SARABURI SANDBOX LOW CARBON CITY, the partnership with local cement manufacturers and prestigious international organizations, have set a benchmark for sustainable industry practices. “I am deeply honoured by the trust placed in me by all AFCM member countries, who have unanimously voted for Thailand through TCMA to assume this leadership role for ASEAN Federation of Cement Manufacturers (AFCM). During my tenure, Mr. Montri Nithikul will serve as AFCM Secretary-General, with TCMA Office acting as the AFCM Secretariat, ensuring close coordination among member countries with the support of TCMA members to push carbon reduction initiatives and advance ASEAN’s cement industry toward a low-carbon future,” said Dr. Chana. Four Key Strategies for AFCM towards Decarbonization Dr. Chana outlined the direction of his work as the AFCM President, which requires coordination from all eight member countries by associations in each country, include 1) Brunei represented by Heidelberg Materials Butra Sdn Bhd, 2) Indonesia represented by Indonesia Cement Association, 3) Malaysia represented by the Cement and Concrete Association of Malaysia, 4) the Philippines represented by Cement Manufacturers’ Association of the Philippines, 5) Singapore represented by Cement and Concrete Association of Singapore, 6) Vietnam represented by Vietnam National Cement Association, 7) Thailand represented by Thai Cement Manufacturers Association or TCMA, and entering into new membership 8) Cambodia represented by Cambodian Cement Manufacturing Association. The following four strategic priorities for the next two years have been set to guide AFCM’s efforts in decarbonization, considering each of the eight-member country’s policies, regulatory frameworks, and level of readiness. Accelerate the Development of the AFCM Decarbonization Roadmap, establishing a structured framework for AFCM member countries to collaborate with their respective governments in reducing carbon emissions within the cement industry. Regional integration for collective action, leveraging the unique strengths and capabilities of each AFCM member countries to ensure a unified and dynamic approach to sustainable industry practices while keeping abreast with global trends. Strengthen Cooperation with ASEAN, enhancing cooperation with government is the key mechanisms for progress. Engaging with world-class organizations, i.e. the Global Cement and Concrete Association (GCCA), the United Nations Industrial Development Organization (UNIDO), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH., and the World Economic Forum, etc. to facilitate technology transfer, innovation, and access to green funding for decarbonization projects in ASEAN. Dr. Chana reiterated that his tenure as AFCM President presents a pivotal opportunity for Thailand to convince the regional cement industry toward a shared decarbonization goal through the co-created AFCM Decarbonization Roadmap. This mission will require comprehensive policy support, cross-sector collaboration and implementation, and collaborative action from cement manufacturers in each AFCM member country by aligning with world-class best practices, the effort will be able to achieve tangible progress, ensuring long-term competitiveness and sustainability. Hashtag: #TCMA #ThaiCementManufacturersAssociation The issuer is solely responsible for the content of this announcement.

Media OutReach

XTransfer Expands U.S. Footprint with 5 Additional Payment Licenses

Strengthening Global Trade Financial Solutions NEW YORK, US – Media OutReach Newswire – 24 February 2025 – XTransfer, a leading global B2B cross-border trade payment platform, continues solidifying its regulatory presence in the United States by acquiring five new payment licenses in Illinois, Iowa, New Mexico, Idaho, and South Carolina. This milestone follows the company’s recent expansion into New Hampshire, the District of Columbia, Utah, Georgia, and Arizona, further enhancing its ability to serve businesses engaged in global trade. This recent development builds upon XTransfer’s existing success in the United States market, bolstering its capacity to support local SMEs navigating the complexities of international trade—particularly with China, which remains a linchpin of global supply chains. The move comes as U.S. SMEs increasingly rely on Chinese suppliers and markets despite geopolitical tensions. According to the U.S. Census Bureau, bilateral trade between the U.S. and China reached $758 billion in 2024, with electronics, machinery, and consumer goods dominating exchanges. Yet, SMEs often face hurdles in cross-border payments, including compliance risks, currency conversion inefficiencies, and delayed settlements. Alice Yao, Chief Risk Officer and Co-Founder of XTransfer, emphasized the strategic timing of the expansion: “The acquisition of these licenses underscores our commitment to bridging financial gaps for SMEs engaged in global trade and it also means our financial solutions are designed to simplify cross-border transactions while ensuring full compliance with U.S. regulations.” With these new licenses, XTransfer now holds 13 payment licenses across various states in the United States, further solidifying its commitment to meeting the highest standards of compliance and security in the financial industry. It can now onboard local SMEs in 18 states, offering cross-border remittances to global market. This also makes XTransfer a crucial enabler for American SMEs looking to tap into China’s vast manufacturing ecosystem, which accounts for nearly 30% of global output, according to the World Bank. The expansion also reflects broader trends in U.S.-China commerce. While tariffs and export restrictions have reshaped some trade flows, SMEs still depend on Chinese suppliers for cost competitiveness and scale. A 2024 National Small Business Association survey revealed that 68% of U.S. SMEs importing goods rely on Chinese suppliers, with cross-border payment friction cited as a top operational hurdle. XTransfer’s infrastructure addresses these pain points through partnerships with institutions like J.P. Morgan, DBS Bank, Barclays and Deutsche Bank, offering multi-currency clearing and AI-driven anti-money laundering systems. Its platform reduces the costs in global trade by up to 10%, and accelerates processing times—a critical advantage for SMEs balancing tight margins. XTransfer’s global financial infrastructure is designed to meet the unique needs of SMEs, offering secure, fast, and cost-effective cross-border payment solutions. Through partnerships with leading financial institutions such as J.P. Morgan, DBS Bank, Deutsche Bank, and Barclays, XTransfer has built a robust multi-currency clearing network and an advanced anti-money laundering risk control system powered by data and technology. “For SMEs, trade with China isn’t optional—it’s economic reality,” said Michael Carter, an American customer from XTransfer. “Platforms like XTransfer are becoming essential intermediaries for us, offering the seamless payment experience that traditional banks often lack.” Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, Nigeria, etc. The company remains committed to expanding its global footprint and strengthening partnerships worldwide. As XTransfer eyes further growth in Latin America, Africa, the Middle East and Southeast Asia, its U.S. expansion signals a broader mission: Making SME financial services simple and accessible. Hashtag: #XTransfer #Crossborder #US #Payment #License #SMEs https://www.xtransfer.com/https://www.linkedin.com/company/xtransfer.cn/https://x.com/xtransferglobalhttps://www.facebook.com/XTransferGlobal/https://www.instagram.com/xtransfer.global/ The issuer is solely responsible for the content of this announcement.

Media OutReach

Bupa expands its Connected Care commitment with the new Global Prestige VHIS Plan (Signature) for discerning customers

Bupa introduces a prestigious VHIS plan with enhanced protection, personalised health concierge services, and dedicated health expertise for those who seek the best HONG KONG SAR – Media OutReach Newswire – 24 February 2025 – For people in Hong Kong who want to safeguard what matters most with a plan that goes beyond, Bupa is now welcoming a new Voluntary Health Insurance Scheme (VHIS) plan into its portfolio: the Global Prestige VHIS Plan (Signature). Bupa expands its Connected Care commitment with the new Global Prestige VHIS Plan (Signature) for discerning customers As a leader in the insurance industry, Bupa stands out by providing extensive options within its VHIS plans. Developed under the established requirements of the Hong Kong Government’s VHIS, Global Prestige VHIS Plan (Signature) is a premium VHIS-certified plan which invites customers into a prestigious network of care that is connected, making it seamless and convenient for customers. Global Prestige VHIS Plan (Signature) offers comprehensive benefits, bespoke assistance, and enhanced protection in Hong Kong and worldwide—all in line with Bupa’s commitment to deliver seamless, integrated healthcare experiences. Global Prestige VHIS Plan (Signature) not only adheres to the well-defined standards of the Scheme but also goes above and beyond to deliver personalised support across cutting-edge digital tools and caring in-person provision. The plan’s ample benefits and features[i] include: Extraordinary full coverage up to a high annual benefit limit, with no lifetime benefit limit at the standard private room level worldwide, for more peace of mind A unique flat premium within specific age groups up to 69 years old, for easier planning of finances A dedicated Care Manager to support customers through treatment and recovery An expansive range of optional benefits, including clinical, dental and optical, so customers can tailor their plan to meet personalised needs Daily wellness tools to promote early intervention and lasting health, via the Blua Health app Cashless service at designated private hospitals and Bupa appointed clinics in Hong Kong, for a more seamless and convenient healthcare experience Direct support to help book appointments, choose a care facility or find a second opinion Deductible waivers for cancer treatment so expenses are covered straightaway Enhanced cover including unknown pre-existing conditions Free access to 24/7 medical support via Bupa’s Worldwide Assistance Programme Yuman Chan, General Manager of the Bupa Insurance Business in Hong Kong, said, “As the insurer in Hong Kong purely dedicated to health, with leading positions across health insurance and health services, Bupa is ‘Together for Your Health’ and can exclusively cater to discerning VHIS healthcare customers who seek robust coverage and round-the-clock assistance. Under Bupa’s Connected Care commitment, customers have access to a well-rounded team that is available to help customers navigate their unique healthcare journey, wherever it may lead.” The enhanced benefits of Global Prestige VHIS Plan (Signature) are made possible by Bupa Insurance and Quality Healthcare to jointly serve customers as one united team across both health insurance and health provision, powered by the digital health app Blua Health. “Together for Your Health” is Bupa’s promise to work as one seamless team of specialists and professionals to create a connected healthcare journey. Yuman added, “Global Prestige VHIS Plan (Signature) is an investment in long-term health, offering stability, reliability and flexibility for evolving needs. Staying healthy is the greatest commitment we can make to ourselves and our family. As Hong Kong’s healthcare specialist, we are proud to use our credibility and expertise to deliver an enhanced VHIS plan which connects customers to deeply coordinated care and interactive wellness support, no matter where in the world they may be.” [i] This product summary is intended for reference only. Please refer to the Policy for detailed coverage, general exclusions, terms and conditions. Hashtag: #Bupa #VHIS #GlobalPrestige #ConnectedCare The issuer is solely responsible for the content of this announcement. Bupa – A health insurance specialist Bupa is an international healthcare group dedicated to helping people live longer, healthier, happier lives and making a better world for over 70 years. We serve more than 38 million customers worldwide. With no shareholders, we reinvest our profits into enhancing healthcare for the benefit of current and future customers. Bupa has been a health insurance specialist in Hong Kong since 1976, offering one-stop solutions across domestic and international health insurance, and healthcare services. Our comprehensive medical insurance schemes are tailored to meet individual needs, and we provide health solutions for companies of all sizes. We also have a team of registered nurses, health management professionals, and doctors who provide various expert healthcare support. Our healthcare provision arm, Quality HealthCare Medical Services (QHMS), became part of Bupa in October 2013. QHMS offers Western Medicine, Traditional Chinese Medicine, Diagnostics & Imaging, Dental, Physiotherapy, Mental Health and Wellness services via a network of over 1,650 provider service points in Hong Kong. For more information, visit www.bupa.com.hk/en/.

Property

Gamuda Land’s The Clove Achieves 100% Take-Up for Phase One

SELANGOR: Gamuda Land has announced the overwhelming success of The Clove, its newly introduced Park Homes typology, which achieved a 100% take-up rate for its first phase across Gamuda Cove, Gamuda Gardens, and twentyfive7. This milestone highlights the strong market demand for customer-centric innovation and AI-powered home customization, setting a new benchmark for modern homeownership. The Clove introduces Malaysia’s first-of-its-kind Park Homes, featuring an innovative cluster-of-eight layout arranged around a private, gated common garden. By blending the best aspects of terrace and semi-detached homes, this concept offers spacious, flexible layouts designed to meet the evolving needs of modern families. Compared to conventional terrace houses, Park Homes provide lower density, enhanced privacy, and a higher proportion of corner units, ensuring more green space and natural light—key factors for homebuyers prioritizing wellness, nature, and a secure living environment for their families. A standout feature of The Clove is its cutting-edge home customization technology, powered by Generative AI (GenAI) through the GL Connect portal. Buyers can personalize their home’s room configurations—choosing between one to three bedrooms—based on their lifestyle needs, all at no additional cost. This eliminates the need for costly post-purchase renovations, offering homeowners a seamless and hassle-free buying experience. “The Clove is a result of extensive research and customer feedback,” said Jess Teng, Chief Operating Officer of Gamuda Land. “We wanted to go beyond traditional housing and create homes that are not only spacious and sustainable but also flexible and future-proof. With GL Connect, buyers can design their ideal space without the usual renovation struggles, making homeownership more accessible and tailored to real-life needs.” While the unique Park Homes concept was initially unfamiliar to many buyers, the exclusive show unit previews at Gamuda Cove and Gamuda Gardens quickly changed perceptions. “Seeing the actual space helped buyers understand the benefits of this design,” Teng explained. “The overwhelming response confirms that homebuyers today are looking for innovative, adaptable, and nature-focused living spaces.” What’s Next? With a Gross Development Value (GDV) of RM1 billion, The Clove represents Gamuda Land’s commitment to sustainable, modern living. The show units at Gamuda Cove and Gamuda Gardens remain open for public viewing, while the Signature Collection at twentyfive7 is set to launch in March. For more information or to experience Malaysia’s first AI-powered home customisation portal, GL Connect, visit gamudaland.com.my.

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