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HONG KONG: WRISE Prestige, an affiliated company of WRISE Group, today announced its renewed commitment to meeting the evolving needs of the growing mass affluent base through the strengthening of its leadership team in Hong Kong. The company has appointed Henry Shin as WRISE Prestige’s new CEO, who will lead the day-to-day operations of this business, while spearheading innovative wealth management products and services tailored to the needs of the mass affluent segment. The mass affluent market in Asia continues to undergo a transformative shift, driven by the rise of the Asian middle class and significant inter-generational wealth transfers. China’s mass affluent households alone are forecasted to rise to 162 million by 2030, according to Statista. This region’s rising affluence has vastly deepened WRISE’s commitment to serving this group by enhancing the leadership team, and providing exclusive opportunities for direct investments, mirroring advantages enjoyed by WRISE Group’s existing ultra-high-net-worth clients. CEO Henry Shin, a wealth management industry veteran who brings over 26 years of experience, will lead the growth of WRISE Prestige. He takes over the CEO responsibilities and day-to-day operations from Jowin Fung, who will now focus on his current role as Vice Chairman. Both will report to Stephen Yan, Chairman, WRISE Prestige. Together, they will lead a growing team of 180 independent wealth consultants supported by 40 investment and support function colleagues in a new 17,000 sq. ft Hong Kong office, centrally located at Lee Garden for optimal client access. “Joining WRISE Prestige at this transformative time is truly exciting,” said Henry Shin, CEO, WRISE Prestige. “The expanding mass affluent segment presents a tremendous opportunity, and I look forward to leading our growing team in delivering exceptional wealth management solutions tailored to this segment’s evolving needs. Our strategic expansion across Asia Pacific also underscores our dedication to providing personalised, high-quality service to our clients.” “Our strategic focus on expanding our team to better serve the growing mass affluent segment is a cornerstone of our broader mission to build a 360 wealth management ecosystem that caters to the diverse financial aspirations of clients at every stage of their wealth journey,” said Stephen Yan Chairman of WRISE Prestige. “I am confident of Henry’s proven track record to lead WRISE Prestige in meeting the sophisticated needs of a dynamic client base and enabling us to become the leading wealth management partner for the mass affluent segment in the region.” As WRISE Prestige continues to build momentum, clients can expect more innovative offerings, complemented by the WRISE Academy, which is designed to enhance the capabilities of independent wealth consultants and industry partners through comprehensive training programmes. It also aims to educate and guide clients, empowering them to actively participate in their wealth management journey, while gaining valuable insights into actionable wealth management strategies.

BANGKOK: The Estates Samui, a collection of 15 luxury villas developed by Minor International PCL, proudly introduces three new residences for sale. Designed by the renowned architect Bill Bensley, the exclusive vacation homes offer expansive living spaces and uninterrupted ocean views, all within the captivating theme of tropical contemporary design. Anticipated completion is set for Q3 2026, with an optional rental programme available.   Conveniently located just 30 minutes from the island’s international airport, The Estates Samui is accessible by daily flights or private jet and offers a combination of diversion and tranquillity amid miles of pristine white sand, untouched rainforest and vibrant marine life. The development is perched above a secluded cove, promising complete privacy, breathtaking panoramic vistas and access to Four Seasons Resort Koh Samui’s exceptional amenities, including a fully equipped fitness centre, tennis courts, library and reading room, water sport activities, a world-class spa and some of the best beachside dining options in Thailand. Owners also benefit from five-star services like all-day room service, bell attendant service, 24-hour telephone operator, cable television, 24-hour security, private parking and housekeeping.   Nestled gracefully on the cliffside, the new four- and five-bedroom villas showcase Bill Bensley’s award-winning architectural and landscape design expertise, ensuring a seamless fusion of aesthetics and functionality to maximise the potential of the lush 15-rai plot. The first-floor sun deck and infinity pool with bubble beds and water jets connect to a shaded BBQ area and pool bar, creating an ideal space for alfresco entertaining and sundowners. Indoors, a cosy family room, game room, living room and dining area harmoniously connect to a serene interior garden and a fully equipped kitchen. Two ensuite bedrooms offer captivating sea views. Ascending to the upper level, accessible via either an elevator or a dramatic sweep of stairs, residents will find a flexible area that can be converted into a home theatre and a lounge bar with panoramic vistas. Just to the side, a wellness zone opens onto an outdoor terrace, with a gym and an optional spa room providing a serene space for meditation and quality workouts. The upper level can also accommodate two more bedrooms, customisable to the owners’ preferences, with ample space for an optional maid’s or laundry room.   The villas and common area facilities are managed by dedicated estate management under the supervision of the Four Seasons hotel management team. This ensures the highest level of service quality, covering everything from general administration and resort transportation to landscaping maintenance, routine and preventive maintenance, general repairs, pest control, pool cleaning and 24-hour security.   The Estates Samui offers both freehold and leasehold structures, depending on the eligibility of the purchaser. For inquiries, please email at [email protected] or call +66 85 484 8752.

KUALA LUMPUR: Sorento Capital Berhad (“Sorento Capital” or the “Company”), a leading provider of bathroom and kitchen sanitary ware solutions, has entered into an underwriting agreement with Alliance Islamic Bank Berhad (“AIS”) as part of its forthcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). Sorento Capital, through its subsidiaries (collectively known as the “Group”), specializes in the marketing, distribution, and sale of bathroom and kitchen sanitary wares. The Group offers a diverse range of products that cater to various customer preferences, from affordable to luxury options. Its well-established house brands include ‘Sorento’, ‘Mocha’, ‘Cabana’, and ‘i-Born’. Additionally, Sorento Capital is the authorized distributor for several international luxury brands, including a non-exclusive distributorship for the German brand “Bravat” and an exclusive distributorship for the Spanish brand “Infinity” in Malaysia. IPO Details: The IPO will involve the issuance of 229.0 million ordinary shares (“IPO Shares”), comprising a public issue of 155.0 million IPO Shares and an offer for sale of 74.0 million IPO Shares. These shares represent 18.0% and 8.6%, respectively, of the Company’s enlarged issued share capital of 860.0 million ordinary shares upon listing. Public Issue Allocation: 43.0 million IPO Shares will be available to the Malaysian public via balloting. 16.0 million IPO Shares are allocated for eligible directors, employees, and contributors to the Group’s success (“Pink Form Allocation”).  The remaining 96.0 million IPO Shares will be allocated via private placements to selected Bumiputera investors approved by the Ministry of Investment, Trade, and Industry (“MITI”). Offer for Sale Allocation: 62.5 million IPO Shares will be available through private placement to selected investors. 11.5 million IPO Shares will be reserved for Bumiputera investors approved by MITI. Under the underwriting agreement, AIS will underwrite 59.0 million IPO Shares available to the Malaysian public and Pink Form Allocations. Mr. Loo Chai Lai, Managing Director of Sorento Capital, remarked, “We are thrilled to formalize this underwriting agreement with AIS. This is a significant milestone in our journey towards listing on the ACE Market of Bursa Securities, which will enhance our reputation and open new avenues for growth.” He added, “The Malaysian bathroom and kitchen sanitary ware industry is poised for growth, driven by an expanding property market, economic development, rising population, urbanization, and increasing affluence. With the national economy projected to grow by 4% to 5% in 2024, we anticipate strong demand for our products driven by new property developments and renovation projects. Sorento Capital is committed to leveraging these trends as bathroom and kitchen spaces become integral to personal lifestyle and comfort, ensuring our continued industry leadership.” “The funds raised from the Public Issue will be used to purchase inventory, support branding and promotional marketing, and expand our dealer network and distribution reach. This strategic investment aligns with our business expansion plans and aims to broaden our consumer base through our dealers while enhancing our brand visibility,” Mr. Loo concluded. Sorento Capital has also updated its logo, marking an important step in its brand refresh to better reflect its values and mission. The new logo, featuring a simpler and more timeless design, underscores the Company’s focus on growth and market expansion. The Company is set to be listed on the ACE Market of Bursa Securities by the fourth quarter of 2024, with AIS serving as Principal Adviser, Sponsor, Underwriter, and Placement Agent for the IPO.

 Thought leaders, innovators, and change-makers in entrepreneurship and economic development from around the world will gather at the · Aspen Network of Development Entrepreneurs (ANDE) 2024 Conference in Bangkok, Thailand from Tuesday, September 10 to Thursday, September 12. Let’s come together to celebrate ANDE’s 15th anniversary to share our big ideas and collectively shape the future of entrepreneurship. ANDE will gather at the Royal Orchid Sheraton Hotel & Towers for the multi-day event. “We are delighted to host the ANDE Global Conference in Bangkok, Thailand, in 2024,” said Devin Chesney, Interim Executive Director, Aspen Network of Development Entrepreneurs (ANDE). “As it celebrates its 15th anniversary, ANDE remains in a strong position to deliver its global mission. Its regional chapters across Latin America, Africa, and Asia remain vibrant and are led by extraordinary leaders.” This year’s conference will explore three key themes: Climate Action: Explore green value chains and innovative financing to drive sustainability. Digital Transformation: Leverage tech to boost financial inclusion and business growth. Gender Equality: Implement strategies to empower women entrepreneurs and close the finance gap. Inclusive Innovation: Build an ecosystem where every entrepreneur thrives. Some Highlights of the Conference include a small sample of the sessions and conducted by ANDE members as presented in the event’s agenda: Tuesday, September 10 Welcoming Remarks 9:00 AM – 9:30 AM Ballroom 2-3 Description: Kick-start the conference with opening comments to set the tone for an enriching and productive conference experience. Speaker:  Devin Chesney, Interim Executive Director, Aspen Network of Development Entrepreneurs (ANDE). Unlocking Supply Chain Diversity: Empowering Small Businesses for Global Impact 10:05 AM – 10:15 AM Ballroom 2-3 Description: FUNDES will present innovative approaches to addressing the lack of diversity in global supply chains. Through engaging success stories and compelling data, attendees will gain insights into the transformative power of diverse small and medium-sized enterprises (SMEs) into corporate procurement practices. Speaker: Elfid Torres, FUNDES, CEO The Secret Small and Growing Business Climate Innovators – Sheltertech 9:55 AM – 10:05 AM Ballroom 2-3 Description:  Small and growing businesses (SGBs) are playing a crucial role in creating tools for low-income families to adapt their homes to the extreme weather conditions that come with climate change. This is an urgent theme for business development services to support. Speaker: Nihar Agarwal, Green Banana, Founder Wednesday, September 11 Entrepreneur Fireside Chat 9:45 am – 10:30 am Ballroom 2-3 Description: ANDE’s Interim Executive Director, Devin Chesney, will host a conversation with successful entrepreneur Michael Chen, Chief Executive Officer of Buzzebees, to discuss Michael’s journey, including the challenges they faced and their success stories. Speaker: Michael Chen, Chief Executive Officer, Buzzebees Empowering Female Entrepreneurs in Africa: AI, Blockchain, Cybersecurity, and the Future of Work 11:10 am – 12:40 pm Riverside 6 Speakers:  Gordon Adomdza, Associate Professor, Business Administration, Ashesi University, Margaret Jackson, Managing Partner, Rainbow Consult, and Tonisha Tagoe, Executive Director, Apples and Pears Holdings Ltd Thursday, September 12 Connection Day: Meet, Mingle & Network 8:00 AM – 8:00 PM Royal Orchid Sheraton Hotel & Towers Closing Reception, Co-hosted with Seedstars 7:00 PM – 10:00 PM The Grand Finale will be a spectacular reception in a surprise location to be revealed soon. Final day is also for curated off-site excursions to discover Bangkok’s impact investment ecosystem and options can be viewed here. 

KUALA LUMPUR: Communications minister Fahmi Fadzil said the Malaysian Communications and Multimedia Commission (MCMC) is in the final stages of evaluating the tenders for the country’s second 5G rollout. “We expect an announcement to be made within the next few weeks on who will be the operators selected to develop the second (5G) network,” he told reporters after the launch of CIMB’s “Kita Bagi Jadi”  initiative here. Last month, it was reported that four major mobile network operators (MNOs) had submitted their bid to develop the second 5G network. The MNOs are CelcomDigi Bhd, Maxis Bhd, UMobile and Telekom Malaysia Bhd. Fahmi reiterated that the telecommunications companies involved agreed on several key principles before acquiring shares in Digital Nasional Berhad (DNB), originally set up as the national 5G wholesaler, a prerequisite to bidding for the second rollout. These include an undertaking that the services offered in the second network will not cost more than that currently provided by DNB. In May last year, Putrajaya agreed to introduce a second 5G service provider to shift to a two-network model. Meanwhile, Fahmi said the ministry would focus on improving internet access in schools and higher education institutions under the 2025 budget. We are prioritising the telecommunications sector, where efforts are being made to ensure that schools and higher learning institutions receive the best possible internet access. Fahmi also said the ministry would focus on the creative industry, citing the success of previous initiatives such as the Film in Malaysia Incentive, which he believes has set a strong foundation for growth in the creative sector. On Aug 20, Deputy Communications Minister Teo Nie Ching said the programme drew significant foreign investment and boosted film production activities within the country.–FMT (Free Malaysia Today).