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Arlo Technologies Announces Price Repositioning On Security Products

HONG KONG SAR – Media OutReach Newswire – 24 February 2025 – Arlo Technologies, a leading innovator in smart home security solutions, is thrilled to announce a Recommended Retail Price repositioning across selected products in the Arlo range. Effective immediately, this initiative makes it easier than ever to experience extraordinary value and upgrade home and business security with Arlo’s award-winning surveillance technology. Customers can take advantage of significant savings while experiencing industry-leading protection and peace of mind, with features like crystal-clear 4K video, two-way audio, night vision, and AI-powered detection. The Recommended Retail Price repositioning will include the key products as shown in the table below (in HKD). Product RRP Was RRP Now Save Arlo Essential 2 Outdoor – 1 Cam Kit $788 $688 $100 13% Arlo Essential 2 Outdoor – 2 Cam Kit $1,488 $1,288 $200 13% Arlo Pro 5S – 1 Cam Kit $1,680 $988 $692 41% Arlo Pro 5S – 2 Cam Kit $2,980 $1,788 $1,192 40% Arlo Ultra 2 – 1 Add On $1,958 $1,488 $470 24% Arlo Ultra 2 – 2 Cam Kit $4,288 $3,188 $1,100 26% Arlo Essential 2 Indoor $688 $388 $300 44% Arlo Essential 2 Video Doorbell $1,088 $888 $200 18% Arlo Base Station Accessory $788 $588 $200 25% Arlo understands the importance of feeling secure in your own home and believes that no one should compromise safety during times of economic uncertainty. By lowering the R.R.P. of security cameras, Arlo aims to ease the financial pressures on families while providing them with the reliable security solutions they need. Security cameras are now available for purchase at the Recommended Reduced Retail Prices on the Arlo website and through authorised retailers. For more information, visit www.arlo.com/asia/. Hashtag: #Arlo The issuer is solely responsible for the content of this announcement. Arlo Technologies, Inc. Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security solutions. Arlo’s deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables the delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo’s cloud-based platform provides users with visibility, insight, and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. Arlo has recently launched several categories of award-winning connected devices, software, and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo’s subscription services: Arlo Secure and Arlo Safe. With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users’ personal information private and in their control. Arlo provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

Yasunori Ogawa (left), Chairman and Director, Seiko Epson Corporation and Junkichi Yoshida (right), President and Representative Director, Chief Executive Officer, Seiko Epson Corporation.
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Epson Appoints Junkichi Yoshida as President

SUBANG JAYA: Epson has announced a significant leadership transition with the appointment of Junkichi Yoshida as the new President and Representative Director, Chief Executive Officer, effective April 1, 2025. The decision, approved by Epson’s Board of Directors, marks a strategic move aimed at driving the company’s next phase of growth and innovation. Leadership Changes at Epson Yasunori Ogawa, who previously served as President and Representative Director, Chief Executive Officer, will take on the role of Chairman and Director. Junkichi Yoshida, formerly Director, Executive Officer, and Chief Operating Officer of the Printing Solutions Division, will step into the position of President and Representative Director, Chief Executive Officer. Junkichi Yoshida brings over three decades of experience with Epson, having joined the company in 1988. A graduate of Keio University’s Faculty of Economics, Yoshida has held several key positions, including General Manager of Printer Strategic Planning, Deputy General Administrative Manager of the DX Division, and Chief Operating Officer of the Printing Solutions Division. Most recently, he served as a Director and Executive Officer. Strategic Vision Behind the Leadership Change Epson’s leadership transition aligns with its Epson 25 Renewed corporate vision, which emphasizes sustainability, innovation, and enriching communities. The 2025 fiscal year marks the final stage of this vision and a critical period for formulating Epson’s next strategic roadmap. As the company aims to develop pioneering products and technologies, the new leadership team, headed by Yoshida, will be tasked with executing forward-looking strategies and establishing a strong management foundation. The transition was deliberated by the Director Nomination Committee and approved by the Board of Directors as part of Epson’s commitment to long-term corporate value enhancement. With Yoshida at the helm, Epson is set to continue its focus on innovation in both growth and emerging business areas. The company aims to strengthen its position in the market through sustainable solutions and cutting-edge technology, ensuring long-term success in a rapidly evolving industry. The official leadership transition will take effect on April 1, 2025.  

Media OutReach

Generali Hong Kong Champions Inclusion Through LGBTQI+ Video Series Reaching Over 5 Million Views

HONG KONG SAR – Media OutReach Newswire – 24 February 2025 – Generali Hong Kong continues to lead efforts in Diversity, Equity, and Inclusion (DE&I) through its continued commitment to fostering an inclusive workplace and promoting understanding and respect across the broader community. Reflecting its mission to be a “Lifetime Partner”, these efforts highlight the company’s dedication to driving positive impact. Generali Hong Kong champions inclusion with an LGBTQI+ video series that has garnered over 5 million views. Generali Hong Kong’s DE&I initiatives extend across LGBTQI+ inclusion, women empowerment, neurodiversity, disability support, and the impactful The Human Safety Net program. As part of the LGBTQI+ inclusion initiatives, a series of LGBTQI+ educational and awareness videos, successfully launched to foster a more inclusive society through engaging and heartfelt storytelling, has surpassed 5 million views and received overwhelmingly positive feedback. LGBTQI+ is an initalism for Lesbian, Gay, Bisexual, Transgender, Questioning (or Genderqueer/Queer), and Intersex, while the “+” represents other diverse gender identities and orientations. Launched just six months ago, the LGBTQI+ video series was originated by Generali Hong Kong and produced in collaboration with G Dot TV, a Hong Kong-based media platform dedicated to empowering the LGBTQI+ community. Throughout the production process, the series brought together community members and allies to share their authentic stories, shed light on the challenges they face and raise public awareness. Globally, Generali supports LGBTQI+ inclusion through a range of initiatives, including its employee resource group (ERG), WE PROUD. This ERG is dedicated to promoting insight-sharing and fostering collaboration across Generali’s global markets. It also stimulates and supports local business units in their participation in Pride events and local initiatives. Its work is part of a broader strategy to create inclusive workplaces and communities, reflecting Generali’s ongoing commitment to DE&I. Ady Law, Chief Distribution and Marketing Officer of Generali Hong Kong, shared, “At Generali Hong Kong, we are committed to fostering a workplace culture that encourages innovation, celebrates diversity, and empowers talent to thrive. This video series reflects Generali’s value of building an inclusive society where everyone feels valued and supported to express their true selves.” Cammy Kwok, Director of G Dot TV, added, “We deeply appreciate Generali Hong Kong’s efforts to involve the community in producing this video series to promote diversity, equity, and inclusion. As a community-based media platform, we are committed to amplifying the voices of the LGBTQI+ community, and we are grateful that Generali Hong Kong shares our values. Throughout the production process, their team demonstrated a strong commitment to understanding the community’s needs and authentic stories, enabling us to connect with community members and public in meaningful ways. Their actions truly embody the spirit of diversity and inclusion.” Generali Hong Kong’s efforts to create an inclusive workplace have been recognized with prestigious industry awards, including the Grand Award winner in the ‘Outstanding Corporate Social Responsibility’ category at the Hong Kong Insurance Awards, the Corporate Social Responsibility – Excellence Performance award at the Bloomberg Businessweek (Chinese Edition) Financial Institution Awards and the Top Insurance Employer by Insurance Business Asia. Hashtag: #GeneraliHongKong The issuer is solely responsible for the content of this announcement. Generali Hong Kong In 1981, Assicurazioni Generali S.p.A. was first registered as an authorised insurer in Hong Kong, with the business extending into the life insurance sector in 2016 with Generali Life (Hong Kong) Limited. With a combination of local knowledge and Generali Group’s global expertise, we develop unique and innovative life insurance, general insurance, specialty insurance, and employee benefits solutions to meet the needs of our customers. www.generali.com.hk Generali Group Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 82.5 billion in 2023. With around 82,000 employees serving 70 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali’s strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalised solutions, best-in-class customer experience and its digitalised global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.

Media OutReach

Expanding Access to Sharia Financial Markets, BUMA Offers Its Inaugural Sukuk

PT Bukit Makmur Mandiri Utama (BUMA), a subsidiary of PT Delta Dunia Makmur Tbk (Delta Dunia Group, IDX: DOID), offers its inaugural Sukuk Ijarah, marking another historic milestone in its financial diversification strategy. The Sukuk, with a maximum amount of Rp2 trillion, is offered in three series with tenors of 370 days, 3 years, and 5 years, providing flexible investment options. Proceeds will be allocated evenly: 50% for heavy mining equipment and 50% for working capital, driving sustained long-term growth. BUMA has secured an A+ Syariah rating from Pemeringkat Efek Indonesia (Pefindo) and Fitch Ratings, underscoring its financial strength and operational stability. JAKARTA, INDONESIA – Media OutReach Newswire – 24 February 2025 – PT Bukit Makmur Mandiri Utama (BUMA), the principal subsidiary of PT Delta Dunia Makmur Tbk (Delta Dunia Group, IDX: DOID), announces the offering of Sukuk Ijarah I BUMA 2025 (the Sukuk), its inaugural Sukuk. With a maximum amount of Rp2 trillion, the Sukuk offering marks another historic milestone in the Group’s financial diversification strategy, expanding the Group’s investor base into Sharia financial markets. Sukuk, often referred to as an Islamic bond, is a Sharia-compliant financial instrument similar to conventional bonds but structured to generate returns from underlying asset performance instead of interest, ensuring adherence to Sharia financial principles. The Sukuk Ijarah I BUMA 2025 is offered in three series: Series A with a duration of 370-day tenor, Series B with a 3-year tenor, and Series C with a 5-year tenor, starting from the issuance date. Quarterly Ijarah Fee payments will begin on June 20, 2025, with final bullet payments upon maturity in March 2026, 2028, and 2030. The bookbuilding period takes place from February 24 to March 7, 2025. Iwan Fuad Salim, Director of Delta Dunia Group, stated, “The offering of Sukuk Ijarah I BUMA 2025 marks another key milestone in our financing strategy, diversifying our financing sources while enhancing operational capabilities. The strong investor demand for our recently oversubscribed BUMA II 2024 Bond underscores confidence in BUMA’s financial strength and disciplined execution. The Sukuk offering further reinforces our credibility and ability to secure diverse funding sources for sustained growth.” The global Sukuk market continues to expand, driven by rising demand for Sharia-compliant financial instruments and increased government and corporate issuances. Southeast Asia—particularly Indonesia and Malaysia—continues to be a key region, benefiting from a mature Sharia financial ecosystem, strong regulatory frameworks, and established financial institutions. With the global Sukuk market projected to surpass $1 trillion in outstanding assets by 2025, Indonesia is expected to play a major role in sustaining this momentum [1], offering significant opportunities for issuers and investors alike. “By tapping into the growing Sharia financial market, the Group builds on its diversified financing sources, strengthens its capital structure, broadens its investor base, and reinforces its commitment to financial resilience and operational excellence,” Iwan added. BUMA successfully secured an A+ Syariah rating from PT Pemeringkat Efek Indonesia (Pefindo) and Fitch Ratings, reflecting the company’s financial stability and low default risk profile. Silfanny Bahar, Director of BUMA, added, “The proceeds from Sukuk Ijarah I BUMA 2025 will be strategically allocated to support BUMA’s long-term growth in Indonesia—50% for capital expenditures, particularly heavy equipment, and 50% for working capital. This initiative strengthens financial resilience while ensuring operational efficiency. BUMA is committed to seizing this momentum to enhance its overall competitive advantage. With a well-defined strategy that expands into mine ownership, commodities, and diversified financing sources, we remain confident in generating long-term value for our stakeholders.” The Sukuk Ijarah I BUMA 2025 offering is supported by leading arrangers PT BCA Sekuritas, PT BNI Sekuritas, and PT Sucor Sekuritas, with PT Bank Rakyat Indonesia as the trustee. [1] https://www.fitchratings.com/site/pr/10296561 Hashtag: #DeltaDuniaGroup The issuer is solely responsible for the content of this announcement. About PT Delta Dunia Makmur Tbk (Delta Dunia Group): Established in 1990, PT Delta Dunia Makmur Tbk (Delta Dunia Group) is a prominent holding company operating in Indonesia, Australia, and USA. Our principal subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), is a leading provider of mining services to some of the largest miners in Indonesia and Australia (through BUMA Australia Pty Ltd). In June 2024, through PT Bukit Makmur Internasional (BUMA International), it acquired Atlantic Carbon Group, Inc. (ACG) and became the leading producer of ultra-high-grade anthracite in the USA, further strengthening the Group’s global footprint in the mining industry. In 2023, Delta Dunia Group expanded its portfolio with the addition of two new subsidiaries: PT Bukit Teknologi Digital (BTech), developing AI deep learning technologies to improve operational efficiency, reduce emissions, and minimize Occupational Health and Safety (OHS) operational risks and PT BISA Ruang Nuswantara (BIRU), a social enterprise dedicated to education, vocational schools, and fostering circular economy. Listed on the Indonesia Stock Exchange (IDX Code: DOID), Delta Dunia Group is headquartered in Jakarta, Indonesia, and is supported by a workforce of over 16,000 employees across Indonesia, Australia, and USA. In June 2024, Delta Dunia Group was recognized among the Top 200 in the inaugural FORTUNE Southeast Asia 500 rankings, a prestigious list that identifies the region’s largest companies by revenue.

News

DGK Becomes First Malaysian Law Firm to Expand to China

KUALA LUMPUR: Malaysian law firm David Gurupatham & Koay (DGK) has officially launched its newest office in Jinan, Shandong Province, China with the aim to serve Malaysian companies seeking business opportunities in China, as well as catering to Chinese companies with the interest to invest in Malaysia. Strategically located in the Lixia District of Jinan, the 1,500-sq. ft. office, situated on the 11th floor of the China Life Insurance Building, is now fully operational following its licensing by the Chinese Judicial Department in May 2024. The DGK Jinan opening ceremony, held on 18 February 2025, coincided with the Legal & Cross-Border Business Exchange Forum, drawing industry leaders and legal professionals from both countries. DGK’s founding partner and managing director, Dato’ David Gurupatham, emphasised the enduring trade and cultural ties between Malaysia and China, with bilateral trade reaching USD 190.24 billion. He expressed optimism about future growth in high-tech manufacturing, digital economy initiatives, green development, and tourism. Graced by dignitaries that included Lam Yook Choi, the Minister Counselor of the Embassy of Malaysia in China, Dato Seri Dr. KK Chai, President of the Malaysia Chinese Assembly Hall, Wei Shanshan, Secretary-General and legal representative of Shandong International Chamber of Commerce and Huo Jianping, Chairman of the Partners’ Board of Shandong Bohanyuan Law Firm & Vice President of Shandong International Chamber of Commerce, the historic occasion saw the active participation of legal professionals and industry leaders from Shandong and Kuala Lumpur engaged in cross border dialogue and the exploration of new business opportunities in China and Malaysia. “We would like to express our heartfelt gratitude to the dignitaries present for the opening ceremony, particularly to the Minister Counselor of the Embassy of Malaysia in China, Lam Yook Choi. DGK Jinan is the first Malaysian law firm to be established in mainland China (excluding special economic zones), it represents a major milestone for a home-grown legal firm founded more than 20 years ago. Suffice to say, we are looking forward to serve our clients in China,” added Koay Eng Hooi Senior Partner of DGK. The scope of legal services offered by DGK Jinan include Corporate & Commercial law, Banking & Finance, Construction & Real Estate, Intellectual Property, Dispute Resolution, International Arbitration, Employment Law and Family Law. DGK Jinan is open from 9.00am to 5.00pm, Monday to Friday, its address and contact information are as below: DGK Jinan 11th Floor, South Building China Life Insurance Building No. 11001 Jingshi Road, Lixia District, Jinan City Shandong Province, China Tel: +86-18053135428 E-mail: [email protected]

Media OutReach

BAFS Reports Strong 2024 Performance with First Profit in Five Years at THB 102.9M, Approves THB 0.30 Yearly Dividend, Eyes Asian Market Expansion in 2025

BANGKOK, THAILAND – Media OutReach Newswire – 24 February 2025 – BAFS has announced its 2024 financial results, reporting total revenue of THB 3.507 billion and a net profit of THB 102.9 million, marking a 175% increase from the previous year and the company’s first profitable year since the COVID-19 pandemic. This turnaround to profitability was driven by a high volume of aviation fuel refueling and pipeline oil transportation. BAFS plans to distribute a yearly dividend of THB 0.30 per share for 2024. Looking ahead to 2025, the company has allocated an investment budget exceeding THB 1 billion to strengthen its business and expand into Asian markets, targeting an 8% revenue growth. M.L. Nathasit Diskul, President of BAFS demonstrated robust and consistent business growth in 2024 M.L. Nathasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), stated that BAFS and its subsidiaries (BAFS Group) demonstrated robust and consistent business growth in 2024, leading to the company’s first profitable year since the COVID-19 outbreak in 2019, with a net profit of THB 102.9 million—a 175% increase from the previous year. This growth was primarily attributed to a surge in aviation fuel refueling volume, which reached 5.047 billion liters, exceeding expectations, along with a significant increase in northern pipeline oil transportation to 1.226 billion liters. These factors drove total revenue to THB 3.507 billion, reflecting a 14% year-over-year increase, in line with the recovery of the tourism sector. EBITDA also grew by 21% year over year, reaching THB 1.594 billion. In Q4 2024, BAFS Group recorded total revenue of THB 955.4 million, a 19% year-over-year increase, with EBITDA of THB 343.9 million, supported by higher gross profits resulting from increased aviation fuel sales. Operating expenses rose by 1% while net finance costs decreased by 9% due to scheduled debt repayments to financial institutions and lower interest rates on commercial bank loans. The company recognized a Q4 loss due to a fair value adjustment of its investment in a Japanese power plant and an impairment of goodwill from a domestic power plant. Additionally, it wrote off deferred tax assets (DTA) that were deemed unlikely to be utilized in the future. These accounting adjustments had no cash flow impact and resulted in a Q4 net loss attributable to shareholders of THB 49.8 million. Following its strong performance in 2024, the Board of Directors approved a dividend payout of THB 0.30 per share for 2024. This includes an interim dividend of THB 0.10 per share, paid on September 3, 2024, and a final dividend of THB 0.20 per share, scheduled for payment on May 22, 2025. The final dividend is subject to approval at the company’s 2025 Annual General Meeting. BAFS Group will continue its commitment to sustainable growth in 2025, targeting an 8% revenue increase. With over THB 1 billion allocated for strategic investments, the company will collaborate with partners to explore new business opportunities while enhancing Thailand’s energy transportation infrastructure. A key project is the extension of the northern oil pipeline connecting Ang Thong and Saraburi led by BAFS Pipeline Transportation Co., Ltd. Construction is set to begin in Q1 2025, with commercial operations expected to commence in 2026. Once completed, the total length of the pipeline system will exceed 726 kilometers, making it the longest and most advanced oil transportation pipeline in Thailand and the longest in Southeast Asia. Amid the ongoing energy transition and its challenges, BAFS Group remains committed to sustainable value creation and energy security. The company’s five-year strategic plan (2025-2029) focuses on three key pillars. The first pillar, Solid Financials for Uplifting Asia, involves expanding investments across Asia, leveraging BAFS Group’s capabilities to seek investment and growth opportunities in the Asian market. Two key contributors are BAFS INTECH Co., Ltd., which is driving the expansion of the aviation refueling truck market in Southeast Asia, and BAFS Clean Energy Corporation Co., Ltd., which is currently advancing investments in Mongolia. The second pillar, Sustainability and Governance for a Thriving Future, focuses on supporting the transition of society and the aviation industry to a sustainable energy era, primarily by preparing for the adoption of sustainable aviation fuel (SAF). Last year, BAFS began SAF refueling services at Samui and Suvarnabhumi International Airports and recently obtained ISCC-CORSIA certification in the logistic center scope for its aviation fuel storage and refueling stations at Don Mueang and Suvarnabhumi Airports. The third pillar, Re-imagining the Future of Work for Human Empowerment, emphasizes building a future-ready workforce by enhancing employees’ skills in generative AI and digital literacy to ensure adaptability to changes. BAFS is also assessing and preparing its IT infrastructure to provide employees with secure and convenient access to generative AI tools to boost efficiency. Hashtag: #BAFS #BAFSGroup https://www.bafsthai.comhttps://th.linkedin.com/company/bafsthaihttps://www.facebook.com/BAFSGROUP The issuer is solely responsible for the content of this announcement.

Media OutReach

British Council Singapore Honours Outstanding UK Alumni at the Study UK Alumni Awards 2025

SINGAPORE – Media OutReach Newswire – 24 February 2025 – British Council Singapore celebrated the achievements of exceptional UK alumni at the Study UK Alumni Awards 2025, held at The Fullerton Hotel Singapore, on 20 February. This flagship event honours individuals who have leveraged their UK education to make significant contributions to their professions, communities and societies. British Council Singapore Honours Outstanding UK Alumni at the Study UK Alumni Awards 2025 The Study UK Alumni Awards are a testament to the power of education and collaboration in tackling common challenges and finding lasting solutions to these. The 2025 Awards celebrated winners across four categories, each recognising the transformative impact of UK-educated Singaporean professionals: Business and Innovation Award – Wen Si Chow, for promoting inclusion and equal opportunities for women in the STEM industry. Culture and Creativity Award – Chong Soon Khong, for significant contributions to Singapore’s creative music landscape. Science and Sustainability Award – Stephanie Choon Xia Liaw, for impactful work in energy transition and sustainability. Social Action Award – Shalom Lim Ern Rong, for exceptional efforts in driving inclusion and positive change in society. UK universities consistently excel in world rankings, with four featured in the 2025 QS World University Rankings top ten. The strength, depth and diversity of the UK higher education sector – from small conservatoires to large metropolitan universities – has always attracted students from all parts of the world, including close to 7000 students from Singapore who choose to pursue higher education in the UK every year. The Study UK Alumni Award winners exemplify the value of their world-class UK education, using their expertise to drive innovation, address pressing challenges, and contribute to Singapore’s progress. Speaking at the event, H.E. Nik Mehta OBE, British High Commissioner to Singapore, commended the awardees: “All four Singapore winners inspire me because they are making a difference to our world in fields ranging from science and sustainability to culture, social engagement, and business innovation. Their stories illustrate how higher education can be a life-changing experience – shaping minds, values, ambitions, and futures”. On 9 August 1965, the UK was the first country to establish diplomatic relations with the newly independent Singapore. As Singapore celebrates its 60th birthday this year, the 2025 Awards hold special significance, underscoring the profound and enduring educational and cultural ties between the UK and Singapore, cemented over these 60 years. As Lissy Vadakel, Country Director for British Council Singapore, commented: “Through these Awards, we celebrate the achievements of outstanding UK alumni in Singapore. This is also an occasion for us to come together as a community, with at least one commonality: in one way or another, be that through our educational experiences, our professional lives, or our personal and social connections, we are part of the Singapore-UK fabric”. The High Commissioner also reflected on the lasting impact of UK-educated Singaporeans in growing and strengthening bilateral relations: “At the heart of our countries’ partnership are our people, who have forged lifelong professional and personal connections in our communities. These ties contribute to the mutual trust and understanding between our countries today and will do so for years to come”. The British Council remains committed to supporting and celebrating the aspirations of UK alumni worldwide, ensuring their achievements continue to inspire future generations. For the editor Recipients of Study UK Alumni Awards Singapore 2025 BUSINESS AND INNOVATION AWARDS Wen Si Chow University of Bristol Wen Si Chow is a currently a Senior Legal Counsel at Mott MacDonald. She strongly believes in promoting inclusivity and equality within society. In this regard, her previous stint as a lawyer in private practice has seen her working on a pro bono basis and helping the less privileged in society access legal advice and representation. At Mott MacDonald, Wen Si also serves as the Asia Lead for Inclusive Networks for Women, a regional initiative which seeks to encourage the support of women within the organisation, in the hope that this advances the further promotion of women within the STEM industry as a whole. Wen Si credits her time at the University of Bristol with broadening her perspective on equality in society, as well as increasing her exposure to, and appreciation of, the unique cultural diversity that is found in Southeast Asia. CULTURE AND CREATIVITY AWARD Chong Soon Khong (Ken) Bath Spa University Dr Ken Chong is an award-winning composer, chart-topping songwriter, and an educator at tertiary institutions, including Nanyang Technological University. Ken’s accolades include Apple Music Best Song of 2016 (China) for his song “Rainbow Bot”, sung by Mandopop queen Stefanie Sun, as well as recognition for his music in full feature films, TV programmes, and advertisements. Bath Spa University was pivotal in Ken’s songwriting career, where almost half of his songs submitted for his Master of Music final year project were sold to popular Chinese music artists upon graduation. Ken attributes his success to the university’s ability to help him identify his strengths and passions, and then develop knowledge and skills towards achieving excellence. Ken recognises the benefits of music composition, often perceived as exclusive to a gifted few, and hopes to show how technology has democratised composing, such that anyone can create. He credits his UK educational journey with the impact he now has as a music teacher on his students at various institutes of higher learning in Singapore. SCIENCE AND SUSTAINABILITY AWARD Stephanie Choon Xia Liaw University of Strathclyde University of Birmingham Stephanie Liaw is the Energy Lead for Singapore and Malaysia at Mott MacDonald, where she drives energy transition and sustainability initiatives across Asia. She is currently leading the cross-border interconnector projects at various phases to integrate green energy, connecting Singapore and the ASEAN Power Grid. Under her leadership, Mott MacDonald developed a model to assess interconnector impacts, funded by the UK FCDO under the UK-SG Green Economy Framework. Stephanie’s Engineering and MBA studies in the UK provided a transformative, multicultural experience, equipping her with valuable technical insights and business opportunities to advance energy transition in the

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Chery to build smart auto park in Hulu Selangor

SHAH ALAM: Legenda Beringin Holding Sdn Bhd and Chery Corporate Malaysia Sdn Bhd signed an agreement to develop the Chery Smart Auto Industrial Park at Beringin High Tech Auto (Beringin HTA) Valley, Hulu Selangor, yesterday. Selangor Mentri Besar Datuk Seri Amirudin Shari said the industrial park, targeted for completion in 2026, anchors the first phase of development of the 324ha (800 acres) Beringin HTA Valley ecosystem, bringing world-class automotive manufacturing and cutting-edge technologies to Hulu Selangor. He said the Chery Smart Auto Industrial Park will be developed with an investment of RM2.2bil over five years. “The progress we celebrate today is a testament to what can be achieved through strong partnerships and relationships. The investment by Chery Malaysia in Hulu Selangor and the development by Legenda Beringin highlight this. “I commend Invest Selangor initiatives in driving foreign investments, and working with Legenda Beringin and Chery Malaysia to bring the Beringin HTA Valley and Chery Smart Auto Industrial Park to fruition,” he said. Amirudin’s speech was read by state Investment, Trade and Mobility committee chairman Ng Sze Han at Chery Smart Auto Industrial Park’s signing and groundbreaking ceremony at the Setia Alam Convention Centre here yesterday. Legenda Beringin chairman Chia Song Kooi and Chery International president Zhang Guibing were signatories to the agreement, witnessed by Raja Muda Selangor Tengku Amir Shah Sultan Sharafuddin Idris Shah and Chery Automobile Co Ltd chairman Yin Tongyue. Meanwhile, Zhang said the 81ha Chery Smart Auto Industrial Park is projected to have an initial production capacity of 100,000 vehicles per annum, scalable to 300,000 vehicles per annum from internal combustion engine models to the latest plug-in hybrid, battery electric and energy-efficient vehicle technologies. “We are confident that once completed it will create high-value job opportunities, house a cutting-edge research and development centre, expand vehicle exports to neighbouring countries, strengthen Selangor’s role through a robust supply chain, and solidify Malaysia’s position as a leading automotive hub in Asean,” he said. — Bernama

Investment & Market Trends, News

Berkshire Hathaway to boost investments in Japanese trading houses

NEW YORK: Warren Buffett says that his conglomerate Berkshire Hathaway will likely increase its ownership in the five Japanese trading houses it holds. In his annual letter to Berkshire shareholders, the billionaire investor said Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo agreed to “moderately relax” limits that capped Berkshire’s ownership stakes below 10%. Berkshire’s investments in the companies totalled US$23.5bil at the end of 2024. “Over time, you will likely see Berkshire’s ownership of all five increase somewhat,” Buffett wrote. The 94-year-old Buffett also said he and Berkshire vice-chairman Greg Abel, his designated successor as chief executive, are investing for the “very long term.” “I expect that Greg and his eventual successors will be holding this Japanese position for many decades and that Berkshire will find other ways to work productively with the five companies,” Buffett wrote. “Both of us like their capital deployment, their managements and their attitude in respect to their investors,” Buffett added. Known as “sogo shosha,” Japanese trading houses trade in a wide variety of materials, products and food, often serving as intermediaries, and provide logistical support. They are also deeply involved in the real economy in such areas as commodities, shipping and steel. Berkshire began investing in the trading houses in 2019, drawn by their finances compared to their low stock prices, and revealed 5% ownership stakes on Buffett’s 90th birthday in August 2020. Buffett prefers to avoid businesses he says he does not understand. He told Nikkei in 2023 that the trading houses are “really so much similar to Berkshire,” the Omaha, Nebraska-based conglomerate he has led since 1965. Berkshire spent US$13.8bil on its current holdings and expects US$812mil of dividend income in 2025, Buffett said in the shareholder letter. “This was a good value investment when others may have looked at them as value traps,” said Cathy Seifert, an analyst at CFRA Research who rates Berkshire a “hold.” — Reuters

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