Global Consulting Company J.S. Held Announces CEO Succession
Winning Chinese Tourists: Insights from SCCCI x FY Ads x Meituan Dianping Event
Health in Tech Expands Executive Team to Drive Growth and Innovation
Health In Tech Announces Fourth Quarter and Full Year 2024 Financial Results
Visionary Seizes the Primary Resource in the New Energy Vehicle Sector and Goes All Out to Reach New Heights in Technological Transformation
NYSE Content advisory: Pre-market update + Federal Reserve to Meet
New Zealand's Most Expensive Rental Property - Private Estate in Queenstown Listed by Oliver Road Estate Agents
Aon Announces Transition of President
Markel Group appoints Simon Wilson as Chief Executive Officer of Markel Insurance
E Fund: Harnessing AI Trends in China to Drive Innovation and Enhance ETF Offerings
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Vantage Recognized with 'Best Global Broker' Award at Money Expo Mexico 2025
PORT VILA, Vanuatu, March 17, 2025 /PRNewswire/ -- Vantage Markets participated as a Titanium Sponsor at Money Expo Mexico 2025, held on February 26-27. The event, known as one of the most significant gatherings for traders, investors, and financial experts globally, provided an excellent platform for Vantage to engage with industry professionals and showcase its innovative offerings. A major highlight of the event was Vantage being honored with the 'Best Global Broker 2025' award. This recognition reaffirms Vantage's commitment to providing cutting-edge trading solutions, transparency, and client-centric services. As a trusted multi-asset CFD broker, Vantage continues to set new industry standards with its advanced trading platforms, deep liquidity, and innovative copy trading solutions. Vantage Recognized with ‘Best Global Broker’ Award at Money Expo Mexico 2025 Vantage played a central role in the conference's thought leadership sessions, contributing to key discussions on community monetization and the future of investment banking. It started with Jose Flores, Business Development Manager at Vantage, delivering an insightful keynote speech on leveraging copy trading and signals to build and monetize trading communities. His session drew a large audience, providing valuable strategies for both traders and introducing brokers (IBs) to maximize their earning potential in today's dynamic market. On the next day, Vantage participated in an engaging panel discussion on how technology is reshaping investment banking and wealth management. As financial markets continue to evolve with AI-driven strategies, blockchain solutions, and digital trading platforms, Vantage remains at the forefront of innovation, equipping traders with the tools they need to stay ahead. Vantage Team at Money Expo Mexico 2025 Throughout the two-day event, the Vantage booth was a major attraction, drawing a high volume of visitors, thanks to the company's active participation in the speaker and panelist sessions. The Vantage team played a crucial role. Their expertise made a lasting impression on industry professionals and event attendees alike. Vantage's participation at Money Expo Mexico 2025 reflects its commitment to engaging with the trading community and staying at the forefront of industry developments. With an increasing number of traders and partners looking for trusted and innovative brokers, Vantage continues to invest in technology, education, and industry engagement to enhance the trading experience for its clients. Vantage's recognition at Money Expo Mexico 2025 is a testament to its commitment to excellence, and ability to drive meaningful engagement. As the company continues to grow, it remains focused on providing top-tier trading solutions, fostering industry innovation, and supporting its traders and partners. For more updates on Vantage's upcoming events and initiatives, visit Vantage Markets. About Vantage Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds. With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play. trade smarter @vantage RISK WARNING : CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ensure you understand the risks before trading. Disclaimer: This article is provided for informational purposes only and does not constitute financial advice, an offer, or solicitation of any financial products or services. The content is not intended for residents of any jurisdiction where such distribution or use would be contrary to local law or regulation. Readers are advised to seek independent professional advice before making any investment or financial decisions. Any reliance you place on the information presented is strictly at your own risk.
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Successfully Maintaining Strong Performance and MSME Focus, BRI Wins 5 Awards at the Retail Banker International Asia Trailblazer Awards
SINGAPORE, March 17, 2025 /PRNewswire/ -- PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) has once again achieved remarkable international recognition by securing five global awards at the Retail Banker International (RBI) Asia Trailblazer Awards 2025. The prestigious event, held in Singapore, was attended by BRI's President Director Sunarso, Director of Commercial, Small, and Medium Business Amam Sukriyanto, and Corporate Secretary Agustya Hendy Bernadi, who were present to receive the awards. BRI’s President Director Sunarso, Director of Commercial, Small, and Medium Business Amam Sukriyanto, and Corporate Secretary Agustya Hendy Bernadi proudly receive five prestigious awards at the Retail Banker International (RBI) Asia Trailblazer Awards 2025 BRI was honored with five awards, including Best Retail Bank Indonesia, SME Bank of The Year, Best CSR Initiative, Excellence in Employee Engagement and Best Current Account Offering. "This recognition proves that BRI has consistently maintained strong fundamental performance despite challenging conditions. Such trust and appreciation will further motivate us to continue transforming, delivering the best services for our customers, and contributing to national economic growth through MSME empowerment and impactful social initiatives," said Sunarso, President Director of BRI. As the Best Retail Bank in Indonesia, BRI continues to enhance digital banking services. Winning the SME Bank of The Year award reaffirms BRI's dedication to supporting MSMEs through financing schemes, training, and business mentoring. By December 2024, BRI's total loan disbursement reached IDR 1,354.64 trillion, reflecting a 6.97% year-on-year growth, with all loan segments recording positive growth. Notably, 81.97% of BRI's total loans were allocated to the MSME sector, amounting to IDR 1,110.37 trillion. The Best CSR Initiative award recognizes BRI's commitment to creating a positive social impact through various sustainability programs aimed at empowering communities. Similarly, the Excellence in Employee Engagement award highlights BRI's efforts in fostering an inclusive workplace culture, ensuring employee satisfaction, and promoting professional growth. Receiving the Best Current Account Offering award further strengthens BRI's position as a leader in business banking, providing seamless and efficient current account solutions that help businesses manage transactions effectively. These accolades reinforce BRI's position as a forward-thinking financial institution, continuously adapting to industry changes and innovating to provide relevant financial solutions for all customer segments. "BRI continues to affirm its position as an outstanding bank at the national level while gaining international recognition for its sustainable performance and positive economic and social impact on all stakeholders," added Sunarso. The RBI Asia Trailblazer Awards is a prestigious international awards program organized by MEED, a leading media management brand, in collaboration with Global Data. Held annually, the event recognizes financial institutions that make significant contributions to the banking industry through innovative products, visionary projects, and transformative initiatives shaping the future of banking in Asia. The awards cover multiple countries and regions, including Indonesia, Singapore, Malaysia, Thailand, India, Hong Kong (China), Taiwan (China), and others. For more information about BANK BRI, visit www.bri.co.id
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Ping An P&C and FAW Hongqi Launch Intelligent Driving Insurance Services to Safeguard Drivers
HONG KONG and SHANGHAI, March 17, 2025 /PRNewswire/ -- Ping An P&C, a subsidiary of Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Group", HKEx: 2318 / 82318; SSE: 601318) has partnered with FAW Hongqi Auto. Sales Co., Ltd. (FAW Hongqi) to launch Hongqi Intelligent Driving Protection Services, offering safer and more convenient travel protection for drivers and promoting the development of the intelligent vehicle industry. Intelligent driving spurs new insurance demand Most auto insurance products are designed based on the risks related to of traditional vehicles. However, intelligent vehicles have different risk characteristics. Ping An P&C is exploring innovation in insurance to address the risks associated with the rapidly developing intelligent driving technology. Collaborating closely with automakers, Ping An P&C analyzes the risks in different scenarios based on intelligent connected vehicle (ICV) data. It is continually optimizing insurance product design and now, it has launched the industry's first full-scenario solution for intelligent driving. It offers protection for intelligent driving liability and other new risks, covering eight high-frequency scenarios in intelligent driving assistance, including automated parking, remote control parking, valet parking, urban traffic vehicle lane cruise control, enhanced urban traffic lane cruise control, highway traffic lane cruise control, urban navigation and highway navigation. Ping An P&C and FAW Hongqi Create New Model for Intelligent Driving Protection This is the first intelligent driving protection service offered by Ping An P&C in collaboration with FAW Hongqi. Together, they are exploring innovative insurance models for intelligent driving, including building a risk database, optimizing service processes and upgrading protection solutions to provide users with more precise and comprehensive risk protection. For example, the Hongqi Tian Gong 08 is a new energy vehicle model equipped with ultra-low-temperature battery cell technology, which can maintain a 93% battery energy retention rate in a low-temperature environment up to -10 degrees Celsius. Based on this scenario, Ping An P&C has customized a compensation plan for losses due to power battery failure in the vehicle due to low temperatures, including the cost of a replacement vehicle during the vehicle repair period, giving drivers a sense of security during the winter. Ping An leading innovation to promote high-quality development of intelligent vehicle industry In addition to the partnership with FAW Hongqi, Ping An P&C and also jointly launched a customized intelligent driving protection service with Seres Automobile Co., Ltd. in November 2024, covering protection needs in scenarios such as automated parking and driving. This plan provides car owners with more comprehensive risk protection. Ping An P&C will adhere to a customer-centric approach, continue to deepen technological empowerment, and provide more comprehensive and efficient insurance protection support for new energy vehicle companies and customers. Ping An P&C is committed to innovation in financial service models and working with industry partners to improve intelligent driving insurance and provide safer and more reliable protection. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of September 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 29th in the Forbes Global 2000 list in 2024 and 53rd in the Fortune Global 500 list in 2024. For more information, please visit www.group.pingan.com and follow us on LinkedIn - PING AN.
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The Henderson Becomes First Commercial Building in APAC to Partner with Forbes Travel Guide on Five-Star Guest Experience Standards
HONG KONG, March 17, 2025 /PRNewswire/ -- The Henderson, a new iconic landmark for Hong Kong and a super Grade-A commercial development developed by Henderson Land Group, has become the first commercial building in the Asia-Pacific region to receive "In Partnership with Forbes Travel Guide" recognition for its commitment to elevating the guest experience to hospitality standards. More than just a commercial development, The Henderson, a new iconic landmark nestled in the heart of Central CBD, offers prestigious services that rival those of luxury hotels. The Henderson partnered with Forbes Travel Guide for customized service standards, training and professional assessment. By blending service excellence, art, innovation, and sustainability, The Henderson strives to offer a superior, bespoke smart office experience. The Henderson stands as a testament of Henderson Land's unwavering dedication to providing exceptional experiences for our esteemed tenants and guests. This accolade highlights our commitment to redefining modern workspace standards, where every aspect of the workplace experience—from thoughtful concierge services to meticulously crafted interior design—aspires to luxury and sophistication. Bolstered by unparalleled banquet services, The Henderson has solidified its position as a beacon of luxury and hospitality in the commercial real estate landscape. Since last year, The Henderson has welcomed a range of distinguished tenants. Among them is Christie's, the globally acclaimed art and luxury business, which has established its new Asia Pacific headquarters at The Henderson. This integrated hub provides Christie's with the much-needed flexibility to transform its sales and events schedule to year-round programming, creating opportunities for greater creativity and innovation. Adding on top of the list, Swiss luxury watchmaker Audemars Piguet occupies an entire floor to host its iconic AP House while also housing its Hong Kong office at The Henderson. This space offers guests a chance to partake in a premium experience, discover exquisite timepieces, and immerse themselves in the brand's rich heritage. Adding to its allure, Cloud 39 at The Henderson, the newest and highest ultra-luxury rooftop ballroom, has opened its doors. Featuring a striking all-glass design with floor-to-ceiling windows and an al fresco terrace, this column-free event space serves as the perfect venue for internationally renowned grand events. In 2025, exciting dining concepts will be unveiled at The Henderson, further enhancing the hospitality experience in the commercial real estate landscape. "Forbes Travel Guide is proud to collaborate with office owners to enhance workplace environments, making office life more appealing in this era of evolving work habits and back-to-office initiatives," said Hermann Elger, CEO of Forbes Travel Guide. "By elevating service and amenities, The Henderson is creating spaces that attract and retain tenants, their employees and their customers. We commend The Henderson for its commitment to excellence and innovation in commercial real estate, setting a high standard for the industry's future." – ENDS – Appendix For High resolution image and "In Partnership with Forbes Travel Guide 2025" logo, please download from here. The Henderson, a new iconic landmark in Hong Kong and a super Grade-A commercial development by Henderson Land, has become the first commercial building in the Asia-Pacific region to receive "In Partnership with Forbes Travel Guide" recognition. About The Henderson The Henderson is "an icon amongst icons" that ranks eminently amongst the world's most spectacular urban landmarks. Located at Murray Road, Central, this new 465,000-square-foot super Grade-A office tower is a showcase for health, resilience, smart technology and sustainability. With an innovative and sustainable design by world-renowned Zaha Hadid Architects, The Henderson echoes the organic beauty of the natural world, reinterpreting the structural forms and layering of a Bauhinia bud ready to blossom. With its high-tensile steel structure, The Henderson caters for exceptionally wide, light-filled column-free open offices in its typical plans, which offer flexibility and an incomparable level of collaboration for its tenants. The Henderson has received numerous awards and accolades, including the Grand Award - Non-Residential (New Building – Non-Government, Institution or Community) category and The Innovative Project Award at the Quality Building Award 2024, HKIA Medal of the Year of Hong Kong 2024, the Grand Award (New Buildings Category: Projects Under Construction and/or Design - Commercial) at the Green Building Award 2021, and Platinum Pre-certification in both the WELL Building Standard (WELL) and Leadership in Energy and Environmental Design (LEED). In recognition of its outstanding digital connectivity and advanced smart technology, the project has also been awarded a Platinum certification for both WiredScore and SmartScore. The Henderson is also the first in Hong Kong and Mainland China to achieve Platinum Certifications from ModeScore and ActiveScore. About Henderson Land Group Founded in 1976 and listed in Hong Kong since 1981, Henderson Land Development Company Limited (Stock code: 12) is a leading property group, focusing on Hong Kong and mainland China. Henderson Land is carrying on its legacy into the future, curating a property portfolio that grows from strength to strength and encompasses award-winning landmark projects such as the International Finance Centre complex and The Henderson. In addition to its core business in property development and property investment, the Group holds strategic investments in two listed subsidiaries (namely, Henderson Investment Limited and Miramar Hotel and Investment Company, Limited) and three listed associates (namely, The Hong Kong and China Gas Company Limited (which in turn has equity stakes in a listed subsidiary, Towngas Smart Energy Company Limited), Hong Kong Ferry (Holdings) Company Limited and Sunlight Real Estate Investment Trust). Henderson Land has a long-term commitment to sustainability and is a pioneer in green building and sustainable practices, which harness innovation and technology to create new, smarter living. The Group is also a strong advocate of social responsibility and invests in a broad range of community causes and initiatives. For more information, please visit www.hld.com. About Forbes Travel Guide Forbes Travel Guide ("FTG"), the global authority on genuine Five-Star service, provides world-class professional services to the hospitality industry and other service-oriented businesses such as luxury retail, residential, healthcare and private clubs through bespoke training solutions, evaluation services and custom service standards. Started as Mobil Travel Guide in 1958, the company created the first Five-Star rating system in the United States. Today, in addition to providing professional services, FTG is the only independent, global rating system for luxury hotels, restaurants, spas, ocean cruise ships and their restaurants. For more information on FTG services, please visit partner.forbestravelguide.com.#ForbesTravelGuide
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CASEKOO: Explore The Luminous Enigma and Let the enchanting artistry of Tarot Ignite your Intuition and Enlightenment.
LOS ANGELES, March 15, 2025 /PRNewswire/ -- CASEKOO recently hosted an enchanting "Tarot and Tea" soirée in Sai Wan, Hong Kong, to celebrate the grand launch of its collaborative collection, The Luminous Enigma series. This exquisite line of four phone cases, crafted in partnership with COCORRINA and renowned Tarot Reader Peter, draws inspiration from the celestial symbolism of the Sun and Moon tarot cards. The event welcomed passersby with open arms, offering each guest a comforting cup of spiced apple cinnamon tea upon entering the park. While many attendees were newcomers to the world of tarot, they were captivated by the intricate designs of the phone cases and the mystical allure of tarot itself. CASEKOO also unveiled the stories behind the collection, sharing the profound insights and intentions the designers imbued into each piece, hoping to inspire those who carry these cases to connect with their deeper meanings. The Helios and Celene cases were born from the breathtaking beauty of Kefalonia, an island that holds deep personal significance for Corina, the visionary designer behind COCORRINA. Each morning, she finds herself nourished by the Sun's radiant energy, feeling a harmonious connection with the natural world. By night, she is guided by the Moon's gentle glow and the vast expanse of the sky, navigating life's ebbs and flows with grace. Through these meticulously crafted cases, Corina invites consumers to experience the celestial wonders that illuminate her daily life, offering a glimpse into her world with every creation. Meanwhile, the Illuminating Sunlight and Midnight Moonlight designs were inspired by Tarot Reader Peter's profound connection to the Sun's boundless warmth and the Moon's quiet magic. The phrase "Let the sun shine heal you" encapsulates the Sun's restorative power, encouraging resilience and positivity in the face of life's challenges. Conversely, the Moon-inspired designs whisper "Embrace the Unknown," a gentle reminder to trust one's intuition, while "You look so beautiful tonight" celebrates the profound beauty found in darkness and the depths of emotion. Each piece in the collection pays homage to the enchanting interplay between the Sun's life-giving energy and the Moon's captivating mystique, offering a timeless connection to the cosmos and its profound duality. Both designers, Corina and Peter, wish for more people to experience the breathtaking and awe-inspiring sights of the sun and moon that they cherish. They hope that whoever carries these cases will be enveloped in the sun's positive energy and drawn to the moon's enchanting gravity, finding inspiration and balance in their celestial harmony. Together, CASEKOO hopes that the owners of these cases will embrace the beauty of tarot, feeling their mysterious power and carrying it with them wherever they go.
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TUKU Collaborates with Dendy Darman to Present First Store in Bandung
BANDUNG, Indonesia, March 15, 2025 /PRNewswire/ -- Toko Kopi Tuku (TUKU) celebrates the opening of TUKU Ambon, their first store in Bandung, marking the expansion of this renowned local coffee brand into the City of Flowers. This 61st store reaffirms Toko Kopi Tuku's commitment to being a good neighbor in their 10th year. Celebrating Indonesian culture, namely the spirit of togetherness, this store is envisioned as a community hub, a place where people from all walks of life can gather, share stories, and enjoy TUKU's signature products and services. TUKU Ambon, Bandung "From the very beginning, TUKU has strived to be an integral part of people's daily lives, not just a place to grab a coffee. Through Toserbaku, we are dedicated to offering more beyond coffee; we provide high-quality merchandise for the everyday needs of our customers. Bandung, with its vibrant creativity and community spirit, is the perfect place to continue this journey. We aim to create a simple yet meaningful space where TUKU products and services can be enjoyed in a comfortable and familiar setting," said Andanu Prasetyo, CEO & Founder of TUKU TUKU Ambon is the first Toko Kopi Tuku location designed in collaboration with Dendy Darman, a Bandung-based designer and long-time Tetangga TUKU (the term for TUKU's loyal customers). Dendy, affectionately known as Uncle Dendy, drew primary inspiration from the cozy comfort of traditional Bandung homes, combined with a minimalist, modern touch. The dominance of wooden elements provides a warm, natural texture while also reflecting Indonesian architecture. Recycled materials and concrete from waste materials are also used, creating semi-permanent elements that can be moved and reused—a small step towards sustainability. "More than just a place to grab coffee, Toko Kopi Tuku Ambon is designed to create a familiar and warm atmosphere, like being at a neighbor's house. The goal isn't to be an instagramable photo spot, but rather to provide a more personal and meaningful experience," says Dendy Darman, Founder and Designer of Dendy Darman Studio (DDS). At TUKU Ambon, customers can enjoy a series of engaging experiences, starting with the comfortable "trunk"-shaped queue. The open space then invites visitors to delve deeper into the experience, with glass walls and a terrace that blend seamlessly with the surroundings of Ambon Street, offering views of lush trees and the vibrant atmosphere of Bandung. The coffee bar area offers the iconic Es Kopi Susu Tetangga as well as a variety of classic coffee drinks such as Cappuccino, Latte, and Mocha, plus black coffee options like Long Black and Cold Drip Santai. Customers can also find non-coffee options like Es Teh Susu Tetangga, and snacks such as Donat Kampung and Bolu Piscok, which are perfect to enjoy with coffee. Unlike other TUKU stores located in the Greater Jakarta area, TUKU Ambon also offers a variety of snacks made fresh in the kitchen throughout the day. Ranging from Baso Tahu; Gorengan; to Lontong, Tukudapan is made with the desire to cater to local Bandung tastes with a familiar yet distinctive TUKU flavor. With the opening of TUKU Ambon, Toko Kopi TUKU hopes to become a part of the Bandung community and make a positive contribution to the city. Additionally, the coffee scene in Bandung is rapidly developing with a variety of coffee shops, from independent coffee shops to large chains that showcase the city's unique character. Bandung is also home to talented baristas and roasters who are constantly experimenting with brewing techniques and high-quality local coffee beans. TUKU's presence is expected to contribute to the dynamics of diversity and enliven Bandung's coffee industry with a closer and more friendly experience. Instagram: @tokokopituku
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$1 Billion Financing Secured, Visionary Accelerates Its Battery Swap Layout in Hong Kong
TORONTO, March 14, 2025 /PRNewswire/ -- Recently, Visionary (NASDAQ: GV) has made significant progress in the field of battery swapping for new energy vehicles in Hong Kong, attracting high attention from the capital market. The $1 billion financing for Visionary's new energy vehicles by the Alfardan Group of Qatar has now entered the loan process and is expected to be in place soon. In accordance with the information disclosure requirements of US listed companies, this press release will elaborate in detail on the key impact of this financing on Visionary's battery swap project in Hong Kong. Visionary has reached a cooperation with PEGASUS International Group (Hong Kong) and is actively laying out in the battery swap market for new energy vehicles in Hong Kong. Recently, PEGASUS International Group (Hong Kong) will sign the contract for the first battery swap station, which is expected to become the first battery swap station established in Hong Kong. The Hong Kong government is vigorously promoting the development of new energy vehicles and plans to build 3,000 high-speed battery swap/charging stations by 2030, creating a vast space for the battery swap market. Visionary plans to invest HK$420 million to build 600 battery swap/charging stations by 2029. The plan was launched with the construction of the first battery swap station in March 2025, and it is expected that 10 stations will be completed in that year. The $1 billion financing from the Alfardan Group of Qatar is of great significance to the project. This not only provides sufficient funds for Visionary's battery swap network construction but also serves as a strong testament to its powerful resource integration capabilities. As an internationally renowned enterprise, the Alfardan Group's investment in Visionary's new energy vehicles reflects its high recognition of the project's prospects and deep trust in Visionary's development potential in the field of new energy battery swapping. From the perspective of industry development trends, the new energy vehicle market has experienced explosive growth in recent years. As a crucial supporting link, the demand for battery swap services has been continuously rising. With this huge amount of financing, Visionary can accelerate the construction of its battery swap network and seize the market opportunity. Compared with its competitors, quickly completing the layout of 600 battery swap/charging stations will enable it to be the first to meet the growing demand for battery swapping of new energy vehicles in Hong Kong. It is then expected to capture approximately 20% of the battery swap market share in Hong Kong, form a scale advantage, and obtain substantial profit returns. For investors, the fact that the $1 billion financing has entered the formal loan process has significantly reduced the project's capital risk. In the current situation with significant market fluctuations, a stable cash flow is one of the key factors for the success of an investment project. This progress allows investors to see the feasibility and stability of the project, enhances their confidence in the future development of Visionary Holdings, and also attracts the attention of more potential investors. In its subsequent development, Visionary will strictly comply with the information disclosure and compliance requirements of US listed companies, regularly disclose the project progress to investors, and ensure information transparency. At the same time, the company will make full use of this funds to optimize the construction technology of battery swap stations, improve operational management efficiency, and promote the development of the battery swap industry for new energy vehicles in Hong Kong. The $1 billion financing from the Alfardan Group of Qatar will help Visionary accelerate its layout in the field of battery swapping for new energy vehicles in Hong Kong. This not only brings new development opportunities for Visionary but also injects strong impetus into the new energy vehicle industry in Hong Kong, and further demonstrates the broad development potential of the new energy battery swap field in the capital market. For more information, please contact: Visionary Holdings Inc.Investor Relations DepartmentEmail: ir@farvision.ca
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NYSE Content advisory: Pre-market update for March 14, 2025
NEW YORK, March 14, 2025 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE=" NYSE Content advisory: Pre-market update for March 14, 2025 jwplayer('myplayer1').setup({file: 'https://mma.prnasia.com/media2/2641945/NYSE_March_14_2025_Market_Update.mp4', image: 'https://mma.prnasia.com/media2/2641945/NYSE_March_14_2025_Market_Update.mp4?p=thumbnail', autostart:'false', stretching : 'uniform', width: '512', height: '288'}); Alison Kosik delivers the pre-market update on March 14th Investors welcomed a cooler-than-expected Producer Price Index reading for the month of February as tariff talk continues out of Washington D.C. Attention shifts to the Federal Reserve decisions coming next week as inflation data suggests the rate of inflation growth could be slowing. S&P 500 looks to rebound after ending yesterday in correction territory, which is a decline of at least 10% from a recent high. Watch NYSE TV Live every weekday 9:00-10:00am ET Video - https://mma.prnasia.com/media2/2641945/NYSE_March_14_2025_Market_Update.mp4
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DPC Dash Ltd (1405.HK) to Announce Full Year 2024 Financial Results on March 27, 2025
HONG KONG, March 14, 2025 /PRNewswire/ -- DPC Dash Ltd ("DPC Dash" or the "Company") (1405.HK), Domino's Pizza's exclusive master franchisee in the China Mainland, the Hong Kong Special Administrative Region of China, and the Macau Special Administrative Region of China, will release its audited consolidated financial results for the year ended December 31, 2024 on Thursday, March 27, 2025. The Company will hold a conference call on Thursday, March 27, 2025, at 7:00 pm Hong Kong Time (or Thursday, March 27, 2025, at 7:00 am Eastern Time) to discuss the financial results. A live audio-only webcast of the call can be accessed directly at https://event.choruscall.com/mediaframe/webcast.html?webcastid=tDOLLjE9. To participate by phone, participants are strongly encouraged to pre-register for the conference call, by using the link provided below. Upon registering, each participant will receive a set of participant dial-in numbers, the event passcode, and a unique access PIN, which can be used to join the conference call. Pre-registration Link: https://dpregister.com/sreg/10197148/fe92777ba0 An audio-only replay of the call will also be accessible through April 3, 2025, by dialing the following numbers: United States Toll Free: +1-877-344-7529 International: +1-412-317-0088 Access Code: 3442293 Additionally, the earnings release and presentation slides for this conference call will be available on the Company's Investor Relations website www.dpcdash.com About DPC Dash Ltd. DPC Dash is Domino's Pizza's exclusive master franchisee in the China mainland, the Hong Kong Special Administrative Region of China and the Macau Special Administrative Region of China. Domino's Pizza, Inc., DPC Dash's global franchisor, is one of the most widely-recognized global consumer brands and the world's largest pizza company. Led by a seasoned and visionary management team, DPC Dash is a market leader that differentiates from competitors with, among others, a continually innovated and localized pizza-focused menu, unique expertise and leadership in delivery, technology focus and scalable and replicable store economic model. DPC Dash operates 1,008 stores in 39 cities in the China mainland as of December 31, 2024. For more information, please visit www.dpcdash.com For official company announcements, please visit www.hkexnews.hk CONTACTS DPC Dash Ltd Investor Relations:DPC Dash LtdIR@dominos.com.cn ICR, LLCdpcdashIR@icrinc.com DPC Dash Ltd Media Relations:ICR, LLCdpcdashPR@icrinc.com
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V CAPITAL CONSULTING GROUP GUIDES SAGTEC GLOBAL LIMITED TO NASDAQ IPO, ACHIEVING FIFTH SUCCESSFUL LISTING
Consultancy Firm Secures Fifth Consecutive Success, Assisting Local Software Provider in Raising US$7 Million through Nasdaq IPO KUALA LUMPUR, Malaysia, March 14, 2025 /PRNewswire/ -- V Capital Consulting Group Limited ("VCCG", or the "Company") is pleased to announce the successful initial public offering (IPO) of its client, Sagtec Global Limited ("Sagtec"). The listing marks VCCG's fifth overall success on Nasdaq and the third IPO within the past year, highlighting the Company's expertise in guiding businesses to the global capital market. The corporate advisory firm, a subsidiary of VCI Global Limited (NASDAQ:VCIG), provides turnkey solutions for companies seeking to list on Nasdaq. With Sagtec's successful listing — the firm's third Nasdaq IPO within a year — VCCG has further solidified its growing presence in the IPO advisory space. This achievement underscores the company's commitment to guiding more Southeast Asian businesses to the global capital market. As Sagtec's IPO consultant, VCCG provided strategic guidance throughout the listing process, helping the software solutions provider raise US$7 million (approximately RM31 million) and achieve a post-listing valuation of over US$50 million (approximately RM221.4 million). Sagtec, which primarily serves the Food and Beverage (F&B) sector, saw its flagship product, Speed+, surpass 10,000 subscribers, reflecting 47% growth. In 2024, the company's revenue reached approximately US$11.63 million (approximately RM51.38 million), marking an 82.29% increase from the previous year. "This IPO is another step toward strengthening Malaysia's presence on Nasdaq, and we are thrilled to have supported Sagtec in reaching this milestone. With an expanding track record of listings and a commitment to empowering Southeast Asian companies, VCCG continues to pave the way for regional businesses seeking global capital market success," said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. "This achievement reflects our team's dedication and the invaluable guidance of our advisors, whose expertise was essential in navigating the complexities of the listing process and positioning Sagtec for long-term success. With this Nasdaq listing, we're not just expanding globally but also redefining what's possible for Southeast Asia tech innovators – and this is just the beginning of an exciting new chapter for Sagtec," said Kevin Ng, Executive Director and Chief Executive Officer of Sagtec. About V Capital Consulting Group Limited V Capital Consulting Group, a spin-off and subsidiary of VCI Global (NASDAQ:VCIG), is a consulting firm specializing in capital market advisory services across pre-IPO, IPO, and post-IPO phases, as well as merger and acquisition advisory. Our team of experienced consultants is recognized for their in-depth knowledge and proven track record of delivering impactful results. With a core team of experts in corporate finance, capital markets, and legal advisory, we empower clients to navigate complex market landscapes, anticipate challenges, and seize business opportunities. To date, VCCG has successfully assisted notable companies in securing Nasdaq listings, including Founder Group Limited, YY Group Holding Limited, and others. About Sagtec Global Limited Sagtec specializes in customizable software solutions for the Food & Beverage (F&B) sector, offering table ordering, QR ordering, and self-service kiosk applications to enhance operational efficiency. The company also provides software development, CRM, invoicing, data management, and social media management for various industries, including Key Opinion Leaders (KOLs). Through its majority-owned subsidiary, CL Technologies, Sagtec operates power-bank charging stations at 300 locations across Malaysia. Its flagship product, Speed+, a smart ordering system on leased POS machines, streamlines order management and surpassed 6,800 subscribers in 2024, reflecting its growing market adoption. For more information, please visit https://www.sagtec-global.com/ . Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission ("SEC"). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
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Beyond Claims: How Kuky Helps Health Insurers Enhance Community Well-Being
SYDNEY, March 14, 2025 /PRNewswire/ -- In 2022-23, Australia spent more than $8 billion on state and territory specialised mental health services. Already staggering, the amount does not include Australian Capital Territory jurisdictional or non-Commonwealth numbers, which were not available when the government released the national data in February 2025. The country's total mental health expenditure for 2022-23 stood at $13.2 billion, an increase from 2018-19's $11.8 billion.   How private insurers can help Given the mental health challenge, the private insurance industry in Australia has the opportunity to be part of the solution, in turn boosting their own offerings aimed at a more community-centric clientele. Kuky, a new platform intended to foster real connections among people navigating the same health & wellness journey, is one service that insurers can tap to reach out to a broader range of policyholders. Through the Kuky app, insurance providers can help connect post-surgery patients, expectant mothers, or families of those undergoing chemotherapy with others currently at the same point in their lives. Think social media but on a deeper and more impactful level. The goal is to bring together compatible and like-minded users and assist them in benefitting from shared experiences and meaningful interactions. What's in it for the health insurance industry? With more and more private health insurers advocating for preventative and holistic healthcare to ease the burden in the public space, leveraging technology to actively improve health outcomes can offer a host of benefits while providing better value to insureds. One perk of adding mental health platforms to an insurer's portfolio of services is enhanced member engagement. By offering an app that helps people address their mental health issues, insurance companies can engage with policyholders beyond the hospital setting, reaching even those opting for in-home care and also making insurance more attractive and accessible to a younger demographic. With a wider client base that includes young Australians, health insurers can ensure the sustainability of their funds, for the benefit of both their operations and the people they serve. Once on board, customers also have more reasons to stay insured, given the benefits they can access through their policies in addition to claims. Forming meaningful connections In the same way that Kuky connects app users who have similar experiences and interests, insurers will be wise to align themselves with other businesses and changemakers that can provide mutual benefits for their funds and members. Tapping those with additional expertise – in Kuky's case, experienced developers – can mean a positive difference to both insureds and insurance firms.
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Alliance Laundry Systems Expands Global Footprint with Strong Growth in Japan's Self-Service Laundromat Market
TOKYO, March 14, 2025 /PRNewswire/ -- Alliance Laundry Systems (ALS), the world leader in manufacturing commercial laundry equipment, is strengthening its presence in Japan's rapidly growing self-service laundromat industry. With increasing demand for modern, high-quality laundry solutions, ALS is well-positioned to capitalize on the country's expanding market through its five premium brands, including Speed Queen, UniMac, Huebsch, Primus, and IPSO. Alliance Laundry Systems Expands Global Footprint with Strong Growth in Japan’s Self-Service Laundromat Market Japan's self-service laundromat sector is rapidly expanding, with over 20,000 locations and 1,000 new stores expected annually from 2025 to 2030. Additionally, 15% of existing laundromats plan to upgrade their machines, driving demand for advanced equipment. With a market exceeding $100 million annually, ALS sees a prime opportunity to introduce innovative solutions, catering to consumers seeking premium laundromats with modern facilities, high-speed machines, and a seamless experience. Through its industry-leading brands, ALS is committed to delivering cutting-edge technology and superior reliability. "Japan offers significant growth potential for ALS. With our strong brand presence and diverse portfolio, we are poised to lead the market," said Mr. Ben Dobbs, Managing Director APAC. "Through innovation and expertise, we aim to enhance efficiency, convenience, and customer satisfaction in Japan's laundromat sector." Recognizing Japan's growing demand for efficient laundry solutions, ALS returned to the International Coin Laundry Expo 2025, showcasing the Speed Queen Combo Washer and Dryer. Available in 13 kg and 24 kg capacities, it features intuitive touch controls and a 300 G-factor spin speed, allowing users to wash, dry, or do both in one cycle. The product drew strong interest from local investors. "Beyond simply providing high-quality equipment, our goal is to establish strong, lasting partnerships within the Japanese market. We are dedicated to offering customized solutions and ongoing support to help our customers achieve outstanding results," added Mr. Ben Dobbs. ALS's success in Thailand, with a 62% market share and over 3,000 laundromats, highlights its ability to drive industry growth. As Japan follows Thailand's shift toward premium, large-scale laundromats, ALS is well-positioned to lead with energy-efficient solutions and superior support. To expand its footprint, ALS is investing in its Engineering Office in Thailand and launching an extended engineering lab in April, doubling its development capacity in Southeast Asia. With a strong global workforce, ALS continues to leverage its expertise and regional insights to drive innovation. ALS invites investors and business operators to explore collaboration opportunities that drive success. For more information, visit www.alliancelaundry.com. Or leave your inquiry via this contact form link. ALS Regional Sales Representative will be in touch with you. About Alliance Laundry System Alliance Laundry Systems (ALS) is the world's #1 commercial laundry equipment manufacturer, three times award-winning customer experience from Stevie Award, and supports in 140+ countries. A USA-based privately owned multinational company established in 1908, ALS offers laundry solutions available under five respected brands, including Speed Queen, Uni Mac, Huebsch, Primus, and IPSO. Media contact: Mr. John ZhangEmail: john.zhang@alliancels.comM | +86 137 6010 5599 M | +852 6741 7910
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MarcumAsia Co-Chair Drew Bernstein to Lead Panel on Outlook for Asian IPOs in 2025 at the Roth Capital Conference
Expert panel to provide updates on cross-border listings from Greater China, Japan, Southeast Asia, and Korea with a webcast available March 19 at 12 noon PT NEW YORK, March 13, 2025 /PRNewswire/ -- MarcumAsia CPAs LLP announced that its Co-Chair Drew Bernstein would be leading a panel on the "Outlook for Asian IPOs in 2025" at the 37th Annual Roth Capital Conference in Dana Point, California on at 12 p.m. Pacific Time (3 p.m. ET). Interested parties can contact their salesperson at Roth Capital to attend in person or listen via webcast by clicking here. The panel will address topics including: Preparing for a cross-border IPO Where are the new IPOs coming from? Japan, Southeast Asia, Korea, and beyond US-China geopolitical conflict and investors What the Trump Administration brings to the Capital Markets "I look forward to joining such a distinguished group of speakers at a time when many professional investors are taking a fresh look at cross-border listings from Asia. It's a little-known fact that thus far in 2025, 62% of all IPOs on U.S. exchanges have come from Asia, according to data from Renaissance Capital," said Drew Bernstein. "While companies from Greater China continue to face a challenging regulatory environment on both sides of the ocean, we are seeing a pipeline of high growth companies from countries including Japan, Singapore, Indonesia, Vietnam, and Korea look favorably at the unmatched liquidity and access to growth financing of U.S. capital markets. As larger names come to market, we anticipate a more receptive environment from U.S. institutional fund managers." Mr. Bernstein will be joined by an impressive panel of experts, including: Hero Choudhary, Managing Partner of BEENEXT Investments Richard Anslow, Head of Pan Asia Practice, Ellenoff Grossman & Schole Robert Stephenson, Managing Director, Roth Capital Partners Morgan Baccari, Director, S&P Global MarcumAsia is one of the leading auditors for companies from Asia listed in the U.S. markets, with over 200 accounting professionals specializing in auditing companies publicly traded in the US based in the region. MarcumAsia was the #1 auditor for cross-border IPOs on the U.S. markets in 2024. About MarcumAsia CPAs LLP Marcum Asia CPAs is a PCAOB-registered independent accounting firm specializing in cross-border transactions between Asia-based companies and the U.S. capital markets. Our unique integrated service model provides efficient and responsive audits for Asian issuers with deep expertise in SEC accounting and PCAOB audit standards combined with an experienced team of multi-lingual professionals. We also provide audit support for international companies with Asian operations and advisory solutions for non-audit clients, including accounting and financial consulting, internal controls, governance, and support for global expansion and M&A. For more information, visit https://www.marcumasia.com For more information on the event contact: Crocker Coulson, CEOAUM MediaCrocker.coulson@aummedia.org+1 (646) 652-7185 Media requests: Rachel Gerber KulePURSUIT PRrachel@pursuitprny.com (646) 824-3668
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Christopher Nixon Cox Named Chairman of High-Trend International Group
SINGAPORE, March 13, 2025 /PRNewswire/ -- High-Trend International Group (NASDAQ: HTCO) (the "Company"), an international shipping company, today announced the appointment of Christopher Nixon Cox, as Chairman of the Company, effective immediately. Mr. Cox , a venture capitalist and advocate for socially impactful investing, will leverage his extensive expertise in global markets and sustainability to drive the Company's strategic growth in innovation-driven sectors. Mr. Jinyu Chang resigned as Chairman while remaining a director of the Company. The Company also named Mr. Bo Cui as its new Chief Legal Officer, underscoring its commitment to strengthening governance and global compliance amid rapid expansion. Mr. Christopher Nixon Cox has served as a member of the board of directors of Alto Neuroscience, Inc. (ANRO on NYSE) since April 2022. Since December 2021, Mr. Cox has served as Chief Executive Officer of Lightswitch Capital, a private equity firm dedicated to funding breakthrough therapies for severe diseases and advancing green infrastructure in emerging markets. In addition, Mr. Cox has served as Chief Executive Officer of Argali Carbon Corporation, a carbon offset developer, since November 2022 and of BioSource Feed Corporation, a pioneer in sustainable agriculture, since October 2023. From December 2018 until March 2020, Mr. Cox served as Vice Chairman of Brightsphere, Inc., a publicly traded asset manager. Mr. Cox has also served as the Managing Partner and co-founder of OC Global Partners LLC, a financial services company, since October 2006. Previously, Mr. Cox served as a corporate associate at the law firm of Weil, Gotshal & Manges LLP from 2004 to 2006. Mr. Cox received a J.D. degree from the New York University School of Law, a certificate in Finance from New York University Stern School and a B.A. degree in Politics from Princeton University. As the grandson of President Richard Nixon, Mr. Cox upholds his family's legacy of public service and international diplomacy. He serves on the Board of the Richard Nixon Foundation and founded the Sunswyck Foundation to strengthen U.S.-China relations. Mr. Cui joins HTCO with over two decades of experience in cross-border finance, mergers and acquisitions, and large-scale infrastructure investments. During his tenure as Director of Investments at HNA Group, a global aviation, travel, and financial services conglomerate, he led a team of 10 across Hong Kong and New York to execute over $10 billion in strategic deals. A licensed attorney in New York and USPTO-registered patent practitioner, Mr. Cui holds a Juris Doctor degree from Georgetown University Law Center and a B.S. degree in Mathematics and Computer Science from the University of Illinois. Shixuan He, CEO of the company commented that,"Mr. Cox's appointment marks a milestone in the Company's development, and his expertise will be instrumental in advancing our maritime low-carbon initiatives. His deep understanding of capital markets and experience in frontier green technologies align with our vision to become a leader in ocean-based decarbonization. Equally critical is his ability to strengthen our traditional shipping operations in the U.S." Mr. He added: "We are equally thrilled to welcome Bo Cui as our Chief Legal Officer. His proven track record in managing complex cross-border investments, regulatory compliance, and technology-driven ventures will be invaluable as we navigate global markets and accelerate our green transition. Bo's dual expertise in law and emerging technologies positions him uniquely to lead our legal strategy and risk management efforts." About High-Trend International Group High-Trend is an international shipping company. Forward Looking Statements This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2024. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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NYSE Content advisory: Pre-market update + Wicked" star Marissa Bode Named PRWeek Communicator of the Year
NEW YORK, March 13, 2025 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. PRWeek will ring the Opening Bell ahead of the 26th edition of the PRWeek Awards, which takes place later today here in New York City. The event will celebrate the best of the best corporate, agency, nonprofit and education teams. One honor already given out: 'Wicked" star Marissa Bode has been named PRWeek Communicator of the Year. jwplayer.key="3Fznr2BGJZtpwZmA+81lm048ks6+0NjLXyDdsO2YkfE=" Pre-market update + Wicked” star Marissa Bode Named PRWeek Communicator of the Year jwplayer('myplayer1').setup({file: 'https://mma.prnasia.com/media2/2641159/NYSE_March_13_Market_Update.mp4', image: 'https://mma.prnasia.com/media2/2641159/NYSE_March_13_Market_Update.mp4?p=thumbnail', autostart:'false', stretching : 'uniform', width: '512', height: '288'}); Alison Kosik delivers the pre-market update on March 13th PRWeek will ring the Opening Bell ahead of the 26th PRWeek Awards, celebrate the best of the best corporate, agency, nonprofit and education teams S&P 500 rose fractionally higher as the rate of inflation growth cooled in February. Canada says it will impose 25% tariffs on over $20 billion worth of US goods. Watch NYSE TV Live every weekday 9:00-10:00am ET Video - https://mma.prnasia.com/media2/2641159/NYSE_March_13_Market_Update.mp4
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Witnessed by the Minister of Finance, PT SMI Signs 3 Multisector Financing Facilities Worth IDR 735.7 billion
JAKARTA, Indonesia, March 13, 2025 /PRNewswire/ -- PT Sarana Multi Infrastruktur (Persero) (PT SMI) is taking concrete steps to transform into a Development Finance Institution (DFI) to play a more active role in supporting national development. As a DFI that focuses more on creating a greater socio-economic impact on society, PT SMI signed 3 financing facilities in the education and health sectors, as well as in the provision of drinking water. PT SMI signed financing facilities totaling Rp 735.7 billion with Gadjah Mada University (UGM), the Regional Public Company (Perumda) Tirta Pakuan Bogor City, and the Surya Sembada Drinking Water Public Company (Perumda) Surabaya City on Wednesday, March 12, 2025, at PT SMI office, Sahid Sudirman Center Building, Jakarta. The signing ceremony was attended by the Minister of Finance of the Republic of Indonesia, Sri Mulyani Indrawati, along with officials from the Ministry of Finance, the Mayor of Bogor, Dedie Rachim, the Secretary of Surabaya City, Ikhsan, the Rector of UGM, Prof. dr. Ova Emilia, M.Med.Ed., Sp.OG(K)., Ph.D, the President Director of Perumda Tirta Pakuan Bogor City, Rino Indira Gusniawan, the President Director of Perumda Air Minum Surya Sembada Surabaya City, Arief Wisnu Cahyono, and the President Director of PT SMI, Reynaldi Hermansjah, along with PT SMI officials. PT SMI signed 3 multisector financing facilities worth IDR 735.7 billion, witnessed directly by the Minister of Finance of the Republic of Indonesia, Sri Mulyani Indrawati. The first agreement is the Provision of Sharia Investment Financing Facility between PT SMI and UGM for the development of the Academic Hospital (RSA) owned by the University. This is a new breakthrough for PT SMI, as it is the first financing for a State University with Legal Entity Status (PTNBH) in Indonesia. PT SMI will provide a loan of IDR 405.3 billion to build a new RSA UGM building, as well as to supply the latest medical equipment. The Rector of UGM, Prof. dr. Ova Emilia, M.Med.Ed., Sp.OG(K)., Ph.D., also expressed gratitude for the support from PT SMI to strengthen UGM's position as a reference for research facilities and health profession education in Indonesia. RSA UGM will be upgraded to a Type A Hospital, along with an increase in capacity to 650 beds, services for 40,378 inpatients, and 271,496 outpatients. In addition to financing facilities in the education and health sectors simultaneously, PT SMI also signed financing facilities with 2 regional drinking water management companies. The first is a financing cooperation plan with Perumda Air Minum Surya Sembada Surabaya City worth Rp 160 billion, which will be used for the rehabilitation of the pipe network in 2025 and 2026. This year, the main and secondary pipe networks, approximately 25 kilometers long, will be replaced because they are 20 to 100 years old. This will reduce Non-Revenue Water (NRW) caused by old pipes. The Secretary of the Surabaya City, Ikhsan, hopes that the rehabilitation of the pipe network will improve the reliability of water distribution in the service areas of Surabaya City, so that the quality of water reaching the community can be even better. PT SMI also signed a cooperation agreement with Perumda Tirta Pakuan Bogor City worth Rp 170.4 billion, allocated for two drinking water supply system (SPAM) development projects, namely SPAM Cikereteg and SPAM Bogor Barat / Ciwaringin in Bogor City. The Mayor of Bogor, Dedie Rachim, mentioned that there will be an additional total of 40 thousand household connections from the construction of the two SPAM projects. The loan from PT SMI will also increase the capacity and distribution of clean water in the Cikereteg area by 200 liters per second and in Bogor Barat by 300 liters per second. Through these 3 signings, PT SMI demonstrates its commitment to driving growth in various sectors through impactful development. "As part of the transformation process into a DFI, PT SMI wants to continue creating as many and as wide-ranging benefits as possible for the community. With UGM, we can help improve the quality of education as well as health, which will produce a smart and competitive generation, in line with the improvement of access to health services for the community. Similarly, the financing collaboration with Perumda Tirta Pakuan and Perumda Air Minum Surya Sembada provides the communities of Bogor City and Surabaya City with adequate access to drinking water. In the future, we will be more active in mapping various community needs, so that services in various sectors can be more effective and efficient," said the President Director of PT SMI, Reynaldi Hermansjah. In this event, a regional debt financing application was also launched, the result of coordination between three ministries: the Ministry of Finance, the Ministry of Home Affairs, and the Ministry of National Development Planning / National Development Planning Agency. This application makes it easier for Regional Governments to access Regional Debt Financing and process the considerations of three Ministers. Through this application, local governments can use features to upload required documents, record Service Level Agreements (SLA), notifications and communication tools, and automatic approval if the SLA exceeds 15 days. The Minister of Finance, Sri Mulyani appreciated PT SMI's initiative in supporting multisectoral infrastructure development. "Today, we are here to witness two important cooperation agreements, namely between PT SMI and PTNBH UGM and PT SMI and PDAM. This is a breakthrough with PTNBH, so we hope it can open up opportunities for cooperation with other PTNBHs, to strengthen the education and health sectors. For the two PDAMs, we know the Government is also focused on promoting the availability of safe drinking water, so this is certainly aligned and must be continuously encouraged and improved," said the Minister of Finance. Sri Mulyani also gave special messages and directions to PT SMI. "PT SMI is already quite mature as an institution, but it is still in the growth phase to continue enhancing its contribution to national development. Resilience is also a key factor in facing existing challenges, and PT SMI must continue to adapt and innovate to achieve its long-term vision. PT SMI must also dare to take risks, because by doing so, the effort to build Indonesia can continue, but everything must remain within the corridor of Good Corporate Governance," added Sri Mulyani. About PT Sarana Multi Infrastruktur (Persero) ("PT SMI") PT Sarana Multi Infrastruktur (Persero) ("PT SMI") established on February 26, 2009, is a State-Owned Enterprise under the coordination of the Ministry of Finance in the form of a Non-Bank Financial Institution (LKBB). PT SMI plays a role and has a mandate as an agent of sustainable development. PT SMI has 3 business pillars, namely Commercial Financing, Public Financing, and Consulting and Project Development Services. PT SMI has various functions and unique products/features to support the acceleration of infrastructure development that not only serves as infrastructure financing but also as an enabler through the implementation of the Government and Business Entity Cooperation (KPBU) scheme, which involves various financial institutions, both private and multilateral. PT SMI actively supports the implementation of Public Private Partnership (PPP) and encourages the acceleration of infrastructure development in the regions through regional loan products.
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PSP Investments joins CPP Investments and Ferrovial in 407 ETR ownership group
Transaction Highlights: PSP Investments to acquire significant minority stake of 7.51% in 407 ETR from CPP Investments CPP Investments and Ferrovial to concurrently enter into agreements to acquire an aggregate 6.76% stake in 407 ETR from AtkinsRéalis Transactions position 407 ETR for long-term performance amid increasing traffic demand TORONTO, March 13, 2025 /PRNewswire/ -- Public Sector Pension Investment Board (PSP Investments), one of Canada's largest pension investors, today announced that it has entered into agreements to acquire a strategic interest in 407 Express Toll Route (407 ETR), an all-electronic, barrier-free, toll highway spanning 108km in the Greater Toronto Area, from investment management organization Canada Pension Plan Investment Board (CPP Investments). PSP Investments will add this 407 ETR investment to its global portfolio of road assets through the acquisition of a 7.51% stake for a purchase price comprised of approximately $2.39 billion payable at closing, and a deferred payment to be made up to 18 months after closing. Simultaneously, engineering services and nuclear company AtkinsRéalis will enter into agreements to sell its remaining 6.76% stake in 407 ETR to CPP Investments and Ferrovial, a global infrastructure company. CPP Investments expects to acquire a 1.70% interest in 407 ETR from AtkinsRéalis, on the same basis as the deferred portion of the purchase price paid by PSP Investments. Net proceeds to CPP Investments from all of the applicable transactions are expected to be approximately $2.39 billion for a net 5.81% interest sold after closing. Following completion of these transactions, ownership control of 407 ETR is expected to be attributed as follows: Ferrovial at 48.29%, CPP Investments and other institutional investors at 44.20%, and PSP Investments at 7.51%. AtkinsRéalis will cease to be a shareholder. "We are pleased to join CPP Investments and Ferrovial in the 407 ETR ownership group. PSP Investments has deep expertise in the transportation sector and will support the long-term stability and reliability of this critical road that services more than 3 million Canadians each week," said Sandiren Curthan, Managing Director and Global Head of Infrastructure Investments, PSP Investments. "Our investment in 407 ETR represents our largest infrastructure commitment in Canada to date and exemplifies our broader infrastructure strategy, which is focused on investing in high-quality, essential global infrastructure assets in transportation, communications and energy, enabling us to deliver on our mission and mandate." "This transaction enables CPP Investments to optimize returns for CPP contributors and beneficiaries while building stronger ties with two valued partners and continuing to own a significant stake in a high-quality business," said James Bryce, Managing Director, Head of Infrastructure, CPP Investments. "We look forward to partnering with PSP Investments, Ferrovial and the management team, as the 407 ETR continues to deliver excellent service to the millions of individual and business customers who use the highway." "We are pleased to have PSP Investments join Ferrovial and CPP Investments as a shareholder in 407 ETR. We share a long-term commitment to this high-quality asset and a track record of successful collaboration with all our partners. We will continue to serve the citizens of the Greater Toronto Area and improve mobility and growth in the region," said Ignacio Madridejos, CEO of Ferrovial. The transactions are subject to customary closing conditions and adjustments. About PSP Investments The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension investors with $264.9 billion of net assets under management as of March 31, 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn. About CPP Investments Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31, 2024, the Fund totalled C$699.6 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments. About Ferrovial Ferrovial is one of the world's leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 25,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of Spain's blue-chip IBEX 35 index. It is also included in globally recognized sustainability indices such as the Dow Jones Best in Class Index (former Dow Jones Sustainability Index), and all its operations are conducted in compliance with the principles of the UN Global Compact, which the Company adopted in 2002.
