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Authorities have authorised the wider use of alternative fuels to ease the strain on liquefied petroleum gas and natural gas networks after disruptions to shipments from West Asia tightened availability and drove up prices. The shift marks a temporary reversal of a decade-long policy drive aimed at replacing traditional fuels such as coal, wood and kerosene with cleaner LPG and piped gas.

Officials say the measures are designed to shield households from the worst effects of the supply squeeze while allowing industries and commercial establishments to adapt by switching to alternative fuels. Hospitality businesses, restaurants and small manufacturers have been among the first to face curbs on LPG allocations as authorities prioritise residential supply. Environmental regulators have advised state pollution control boards to permit the temporary use of biomass, kerosene, refuse-derived fuel pellets and coal in certain sectors to maintain operations during the shortage.

The supply stress is linked to the conflict in West Asia, which has disrupted energy shipments through the Strait of Hormuz, a crucial corridor for crude oil, liquefied petroleum gas and liquefied natural gas moving from the Gulf to Asian markets. The country imports a large share of its LPG needs and has limited strategic reserves of the fuel, leaving the domestic market exposed to sudden supply shocks and price spikes when global trade routes are interrupted.

Government agencies have sought to reassure consumers that domestic cooking gas deliveries remain stable even as authorities adopt contingency measures. Emergency powers have been invoked to instruct refiners to maximise LPG production, diverting propane and butane toward household cooking fuel and away from petrochemical uses. Oil marketing companies have also tightened commercial sales and redirected supplies to residential consumers, a move affecting hotels, restaurants and other energy-intensive sectors.

As part of the response, officials have increased allocations of kerosene to states through the public distribution system to ensure access for households that depend on subsidised fuels. Additional supplies of the product are being released to meet growing demand in areas where LPG refills have become harder to secure.

Energy analysts say the sudden return to older fuels underscores the complexity of managing the transition to cleaner energy sources in a country with rapidly rising consumption. Over the past decade, policies promoting LPG connections for low-income households helped drive a significant decline in the use of biomass and kerosene for cooking, improving public health outcomes and reducing indoor air pollution. Programmes designed to expand LPG access reached tens of millions of homes and sharply increased the penetration of modern cooking fuels in rural regions.

Yet the current disruption reveals how heavily the system relies on global supply chains. Nearly two-thirds of the country’s LPG consumption is met through imports, with a substantial portion arriving from Gulf producers. When shipments are delayed or rerouted, domestic supply can tighten quickly, forcing policymakers to intervene to stabilise markets and protect vulnerable consumers.

Industry groups warn that sustained disruptions could place additional strain on manufacturing and services, particularly sectors that rely heavily on natural gas or LPG for process heat. Fertiliser plants, petrochemical complexes and small industrial units have already faced adjustments to gas allocations, and some facilities have reduced operations as fuel availability fluctuates.

Energy companies have responded by diversifying import sources in an effort to offset supply disruptions from the Gulf. Cargoes are being sourced from producers in North America, Europe and other regions as traders seek alternative routes and suppliers. This diversification strategy is intended to reduce dependence on any single supply corridor and cushion the domestic market from geopolitical shocks.

At the same time, officials are urging consumers and businesses to conserve fuel where possible and avoid panic buying. Authorities have intensified monitoring of fuel distribution channels to prevent hoarding and black-market sales, which can worsen shortages and inflate prices during periods of uncertainty.

Environmental experts note that the temporary return to dirtier fuels may carry consequences for air quality and emissions if prolonged. Burning kerosene, coal and biomass releases higher levels of particulate matter and greenhouse gases compared with LPG, potentially undermining progress made through clean cooking initiatives.

Policy planners therefore face a delicate balancing act: ensuring reliable energy supplies for households and industry while maintaining momentum toward cleaner fuels and reduced emissions. The current crisis has renewed debate among energy economists over the need for larger strategic reserves of LPG and natural gas, as well as expanded domestic production and storage capacity to cushion future shocks.

Competitive Landscape and Market Pressures

Singapore’s storage and moving industry was valued at USD 59.48 billion in 2024. It is projected to grow steadily, reaching USD 100.16 billion by 2033. As demand expands, operators face rising expectations from customers who want clearer quotations, faster responses, careful handling of belongings, and fewer disruptions during moves. These expectations are evolving faster than the industry’s traditional operating models.

“Customers today are more informed and expect clarity and coordination throughout the moving process,” said Liang, Sales Manager of Yi Yun Movers. “Meeting these expectations requires tighter planning and consistent execution, especially in a highly competitive environment.”

Operational Focus Over Marketing Claims

Within this environment, Yi Yun Movers has focused on strengthening its core operations, particularly in areas such as safe handling, flexible scheduling, and end-to-end service coordination. The mover in Singapore provides residential and commercial moving services, along with storage, disposal, and after-hours relocations. These reflect a shift toward accommodating varied customer timelines and operational needs.

Technology as Operational Support, Not Replacement

The moving industry in Singapore is believed to have relatively low service differentiation, making internal efficiency a critical factor. To address this, some firms are beginning to explore how digital tools can support daily operations. Rather than replacing existing workflows, technology is being considered for practical functions, such as route planning, scheduling coordination, and administrative efficiency.

For Yi Yun Movers, this has meant examining how planning and coordination can be tightened without disrupting established on-the-ground processes. The company has taken a cautious approach, focusing on whether digital tools can reduce manual work and improve scheduling accuracy. At the same time, it keeps experienced crews and established handling practices at the centre of operations.

“We’re careful not to introduce changes that add complexity on the ground,” as revealed by Jovi, Operations Manager of Yi Yun Movers. “Any use of digital tools is meant to support planning and coordination, not replace the practical experience of our crews.”

GPS Software for Route Planning and Fleet Management

One of the key digital tools Yi Yun Movers has incorporated is GPS software. This technology helps the company optimise route planning and fleet management by:

• Providing real-time traffic data
• Calculating the most efficient routes
• Tracking vehicles throughout the process

This integration not only ensures faster service delivery but also improves customer communication regarding timeframes. With GPS software, the moving teams can focus on executing their tasks on the ground.

SME Readiness and Incremental Technology Adoption

This measured approach aligns with broader national discussions around small and medium enterprise (SME) readiness for technology adoption. While large-scale automation remains out of reach for many operators, incremental use of digital tools to support planning and coordination is increasingly viewed as necessary to remain competitive without compromising service reliability.

Yi Yun Movers’ experience reflects this wider SME reality. Rather than pursuing large-scale system changes, the company has focused on incremental adjustments that support administrative efficiency and coordination, recognising that readiness varies across teams and that operational continuity remains critical in a service-led business.

Adapting to Evolving Customer Expectations

As relocation activity continues alongside Singapore’s dynamic property and business landscape, operators are navigating tighter margins and higher service expectations. For Yi Yun Movers, the focus remains on maintaining service consistency, careful handling of items, and adapting operations to meet changing customer needs in a highly competitive moving industry.

Looking Ahead

Continued growth in Singapore’s moving and storage sector is shaping how operators manage cost, coordination, and service reliability. With customer expectations evolving alongside broader economic and property trends, operational discipline and adaptability are likely to remain central to how moving firms compete.

Yi Yun Movers intends to refine internal processes and maintain service standards while responding to industry changes pragmatically. This reflects a wider shift among local service providers toward strengthening operational foundations, as the moving industry adapts to a more demanding and competitive environment.

In addition to enhancing route planning and fleet management with GPS software, Yi Yun Movers is exploring the use of AI-Assisted Customer Relationship Management (CRM). By integrating AI-driven CRM tools, Yi Yun Movers aims to automate customer interactions, personalise communication, and improve service delivery.

With these forward-thinking approaches, the company is positioning itself to remain competitive in a rapidly evolving market. This enables its teams to effectively address the evolving needs and expectations of Singapore’s moving and storage sector.
Hashtag: #YiYunMovers

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About Yi Yun Movers

Yi Yun Movers is a Singapore-based moving and storage company. It provides residential and commercial relocation services, along with storage, disposal, delivery, and special handling support. The company’s services also extend to providing manpower for packing, unpacking, dismantling, and assembly.

Currently, the deep integration of AI and WLAN has become a global trend in the development of the short-range communication industry. As the world’s first international industry organization dedicated on WLAN application experience, WAA proposed the goal of building a “Global Hub for AI-WLAN Technical Exchange and Standardization.” During the forum, WAA, jointly with international organizations, operators, and leading equipment enterprises, released the “International Cooperation Initiatives on AI-WLAN Standardization” and signed memorandums of understanding with the World Broadband Association (WBBA) and the Global Intelligent Internet of Things Consortium (GIIC), laying a solid foundation for breaking down standards barriers and advancing technical collaboration.

ZHANG Ping, President of the WAA, stated that building a new intelligent ecosystem with AI-WLAN is the shared vision of the industry. GAN Bin, Vice President of Huawei, mentioned that AI transforms wireless local area networks from “passive response” to “active prediction,” better meeting the differentiated needs of various industries.

During the keynote session, representatives from international standards organizations and industry leaders such as IEEE, ITU-T, ISO/IEC, SAMENA, WBA, China Mobile, Huawei, H3C, and Qualcomm engaged in in-depth discussions on topics such as technological evolution, standard harmonization, and scenario-based implementation. The panel discussion focused on AI-WLAN applications and standardization innovation, consolidating industry consensus.

As a professionally significant and internationally oriented industry event, the hosting of the 2026 Global WLAN Industry Forum not only established a core platform for global WLAN industry collaboration and exchange but also strengthened international consensus on the integrated development of AI and WLAN, reinforcing the foundation for global industry cooperation. WAA will leverage this forum as an opportunity to continuously deepen the two-way integration of AI and WLAN, further enhance international cooperation, and continue to play its role as a “coordinator” and “promoter.” It will persistently build bridges for global industry collaboration, deepen international technical exchanges and standard cooperation, and promote the benefits of high-quality WLAN experiences for users worldwide, collectively writing a new chapter in the development of the AI-WLAN intelligent network ecosystem.

Hashtag: #WLAN #AI-WLAN

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Committed to addressing the difficulties regarding people’s livelihood through the rule of law, Pi Jianlong, a lawyer and a national political advisor, has spent years going deep into factories, workshops, law firms and juvenile probation and rehabilitation centers, making sure that his proposals, grounded in rigorous field research, are precise, practical and responsive to real needs.

Noting the predicament faced by food delivery riders, including the lack of contracts, social security and basic protection, he proposed targeted suggestions such as innovating social security models and strengthening platform responsibilities. In 2025, platforms such as JD.com and Meituan successively introduced social security plans, providing full social insurance coverage for full-time riders and accident and medical insurance for part-time riders.

Awarded for his outstanding performance in 2025 by the Chinese People’s Political Consultative Conference (CPPCC) National Committee recently, Pi exemplifies the commitment of thousands of CPPCC members to serving the people through high-quality duty fulfillment, underscoring the CPPCC’s role as a major vehicle through which people’s democracy is practiced.

On Wednesday afternoon, China’s top political advisory body, the CPPCC National Committee, kicked off its annual session in Beijing. Chinese President Xi Jinping, together with other leaders, attended the opening meeting of the fourth session of the 14th CPPCC National Committee.

99.9% proposals handled

Acting as a dedicated consultative body, the CPPCC has pooled extensive consensus and strength to support the successful conclusion of the 14th Five-Year Plan and a solid start to the 15th Five-Year Plan over the past year, injecting strong vitality into the practice of whole-process people’s democracy – a key concept put forward by Xi himself to advance China’s political landscape.

Over the years, China has made all-around progress in improving the institutions, standards and procedures of socialist democracy and advanced socialist consultative democracy by way of extensive participation.

According to a work report delivered at the opening meeting, in 2025, the CPPCC National Committee received 5,992 proposals from its members, of which 5,061 were accepted for processing. The response rate for the accepted proposals stood at 99.9%.

The CPPCC National Committee members carried out 6,778 activities to serve the people, along with 11,115 outreach activities engaging people from relevant sectors. These efforts benefited more than 4 million people.

By innovating consultative and deliberative methods, improving consultative democracy institutions, and fostering a culture of consultation, the CPPCC has further strengthened its role in promoting democracy and offering policy advice while building consensus.

Over the past year, the CPPCC National Committee held 98 consultative and deliberative events, ranging from promoting the country’s green and low-carbon transition for the 15th Five-Year Plan and developing the silver economy to improving and innovating social governance. These efforts demonstrate that consultative democracy is grounded in reality and responsive to public needs, pooling support, consensus, wisdom and strength to advance Chinese modernization.

Securing a strong start to the 15th Five-Year Plan

Supporting the formulation of the 15th Five-Year Plan serves as a key task of the CPPCC in 2025, representing a vivid practice of whole-process people’s democracy.

From May 20 to June 20 last year, China launched an online public consultation to gather opinions for its next five-year plan. The initiative drew over 3.11 million valid submissions, yielding more than 1,500 constructive suggestions across 27 topics.

A summary of these findings was submitted to the Party leadership, ensuring that the people’s voices were heard at the highest level. By September, a total of 2,112 suggestions had been collected from various regions, departments and sectors, resulting in 218 revisions to the document.

To contribute to the 15th Five-Year Plan, the CPPCC, over the past year, held a special standing committee meeting and carried out 54 special studies, yielding a series of high-quality outcomes. Meanwhile, it launched a special research column, publishing 55 issues to provide evidence-based references for policy-making.

This broad-based participation highlights that national development strategies are rooted in public will, gathering strong momentum for Chinese modernization.

According to the work report, in 2026, the CPPCC will conduct in-depth research and thorough consultations on major tasks and strategic measures of the 15th Five-Year Plan and carry out cross-committee, cross-sector and cross-disciplinary studies, aiming to put forward forward-looking, targeted and operable policy suggestions, according to the report.

Focusing on key issues in areas such as economic development, technological innovation, reform and opening up, social development, and people’s livelihood, the CPPCC will truthfully reflect public opinions based on facts and implement the CPPCC National Committee’s democratic oversight work plan during the 15th Five-Year Plan period.

For more information, please click:
https://news.cgtn.com/news/2026-03-04/How-China-builds-consensus-boosts-growth-via-consultative-democracy-1LeSOfZLbk4/p.html

Hashtag: #CGTN

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By K Raveendran Escalating hostilities between the United States, Israel and Iran are rapidly transforming a regional confrontation into a global economic and geopolitical crisis, raising the spectre of what many analysts are beginning to describe as a Third Gulf War. Tehran’s early warning that Washington might possess the ability to ignite the conflict but […]

The article Oil Shock Fears Mount As Gulf Conflict Impact Spreads Far And Wide appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Held on 4–5 March 2026 at Science Park, the Wearable Technologies (WT) Conference 2026 was making a return appearance in Hong Kong after a decade, while the Innovation World Cup came for the first time, spotlighting 32 global innovators out of over 300 entries, in which 8 were Hong Kong-based life & health tech companies, vying for opportunities by connecting with research professionals, industry leaders, and investment representatives, including fast track to “HKSTP Soft Landing Programme” where up to HK$100,000 cash funding and access to an extensive network to accelerate market entries is up for grabs.

Emerged 1^st and 2^nd from the finals were FluoretiQ from the United Kingdom, introducing an on-the-spot diagnostic solution ‘Veri-5’ that identifies the bacteria and antibiotics in 30 minutes, and Light House from Switzerland, introducing assistive mobility eyewear ‘TAMI’ that look after the visually impaired regardless of hazardous environments, had also won the Audience’s Favourite. 3^rd place came United Sensing & MediTech, filling the gaps in monitoring chronic, yet not necessarily lethal cardiovascular diseases, in particular, hypertension, where one-third of the adult population in Hong Kong endures, with a smart ring that presents an alternative that tracks for indicators and tells when possibilities of worsening the condition occurred with ease and efficiency.

With the city recognised as a global financial centre, and ranked in 2025 the first worldwide for biotechnology IPOs, Prof. Dong Sun, JP, Secretary for Innovation, Technology and Industry, Government of HKSAR said, “Initiatives were rolled out to support the local development of life & health tech that are seeing massive success, including the InnoHK clusters, the RAISe+ scheme, and more. Besides from technological advancements, traction for talent and capital have also been witnessed and welcomed.”

Terry Wong, CEO of HKSTP said, “The Conference demonstrated that Hong Kong’s playing a pivotal role as a platform gluing aspects of I&T together—connecting industry and academia for research and development; innovation with investment for commercialisation; and between cities and cultures and compliance practices for adoption—essential in transforming ideas into impact.”

The notion was in echo as Park company founders joined university professors and industry gurus from around the world in sharing the latest developments in the spectrum of medicine; and for AiQuanMed Engineering & Innovation Council (AEIC) from Singapore, and Organization for Medical, Engineering and Commerce Collaboration (OMECC) from Japan to join as strategic partners to the ‘Global Connect’ initiative for a tighter bond among I&T enablers.Hashtag: #HKSTP

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HKSTP

More information about HKSTP is available at www.hkstp.org.

Eight years after the EC (European Commission) issued its “yellow card” warning over Illegal, Unreported and Unregulated (IUU) fishing, Vietnam’s entire political system is executing comprehensive measures with unprecedented resolve. The campaign to remove the IUU yellow card transcends mere commercial calculations; it has become inextricably linked to national prestige, the livelihoods of fishing communities, and the sustainable future of the fisheries sector.

HANOI, VIETNAM – Media OutReach Newswire – 6 March 2026 – Combating IUU fishing represents a critical and urgent national mission with enduring implications for sustainable fisheries development. This mission constitutes a collective mandate that rests with the entire political system and society, presenting a pivotal opportunity to restructure, modernise, and transform the fisheries sector’s sustainable development strategy while ensuring social equity.

Removing the EC’s yellow card warning embodies Vietnam’s honour, responsibility, and national interest, essential elements for enhancing the reputation and global competitiveness of Vietnamese seafood products. Simultaneously, combating IUU fishing and developing a responsible, internationally integrated fisheries sector stands as a cornerstone of the blue economy agenda, ranking among the Vietnamese Government’s highest priorities in recent years.

Institutional Reform in Fisheries Management

Vietnam’s commitment manifests through sweeping legislative reforms. Decree 26/2019 established comprehensive traceability requirements, mandating that every kilogram of seafood must carry verifiable proof of legal origin from the moment of harvest until reaching international buyers.

Subsequent decrees (No. 42/2019, 37/2024, 38/2024, 301/2025) have progressively clarified liability, extending sanctions to both vessel owners and captains, substantially increasing penalties for specific violations, and introducing supplementary sanctions and remedial measures to ensure rigorous enforcement. These enhanced penalties strengthen deterrence capabilities against IUU violations.

The amended Fisheries Law 2017, effective January 1, 2026, incorporates crucial provisions including: (i) transferring certain authorities from the National Assembly to the Government/Ministries to ensure responsive IUU enforcement; (ii) delegating authority to establish fishing permit conditions to the Government (Article 50, Clause 2); (iii) expanding regulatory authority over vessel deregistration cases (Article 50, Clause 5); (iv) transferring authority to establish fishing port criteria and the procedures for opening and closing fishing ports to the Minister of Agriculture and Environment (Article 78); and (v) incorporating requirements for export vessels to meet Government-prescribed conditions (Article 66).

Integrated Technology for Vessel Management and Monitoring

Central to implementing the EC inspection team’s fourth-round recommendations is the deployment of a comprehensive fishing vessel management and monitoring system. Bolstered by the Politburo’s Resolution 57 on scientific-technological breakthroughs, innovation, and national digital transformation, technology has become indispensable to the yellow card removal campaign.

The eCDT system now enables end-to-end data digitisation for monitoring vessel port entries and departures, while the Vessel Monitoring System (VMS) tracks all vessels exceeding 15 meters operating offshore.

Fishing vessels may only register for local operations when allocated fishing permit quotas remain available. Registered vessels are comprehensively catalogued in the national fisheries database (VNFishbase), with ownership information verified against the national population database (VNeID), enabling effective management, operational control, and administrative violation processing while ensuring seamless coordination between central and local authorities.

Establishing Traceability Mechanisms for Domestic and Imported Fisheries Products

As of December 31, 2025, Vietnam has declared 86 operational fishing ports, with continued investment in planned ports to enhance vessel monitoring capacity. The nationally deployed eCDT system now manages complete fishing vessel operations while ensuring transparent traceability of harvested aquatic products. System participation among vessels, fishermen, and enterprises continues growing, with mandatory eCDT and electronic logbook implementation scheduled for all operational fishing vessels.

In 2025, the eCDT system recorded 158,885 port departures (an increase of 81,158 vessels, up 104.41% from 2024) and 154,657 port arrivals (up 88,032 vessels, a 132.13% increase from 2024). Certification and confirmation of harvested aquatic product origins now strictly adhere to legal requirements.

Regarding imported harvest traceability: 14 designated seaports have been announced for foreign vessel arrivals, fully implementing PSMA, compliant control measures for imported harvested aquatic materials and container-shipped products. Domestic and imported harvest traceability mechanisms now operate with rigorous oversight, ensuring full compliance with Vietnamese and international legal frameworks. Notably, no violations have been detected in shipments to European markets since the fourth inspection mission (October 2023).

Legal Enforcement and Violation Processing

A unified vessel monitoring system operates consistently from central to local levels, tracking all vessels exceeding 15 meters in offshore waters. By December 31, 2025, all remaining cases of VMS signal loss and unauthorised boundary crossings have been resolved, with continued strict enforcement against emerging violations.

Coastal provincial authorities conduct regular reviews of vessel registration, surveying, and fishing permit issuance to eliminate unregistered, unlicensed, and VMS-deficient vessels and deregistered vessels still operating. These measures have significantly reduced foreign waters violations.

Sanctions against vessels and fishermen violating foreign waters have intensified, producing measurable improvements. In 2025, 20 vessels detained by foreign authorities underwent investigation, with 17 cases (85%) now resolved. Overall detention figures since 2017 show marked reduction, with complete cessation of violations in Pacific island nations. Currently, only six localities report vessel detentions compared to ten previously.
Vietnam maintains an unequivocal zero-tolerance stance toward IUU violations, committing to continued rigorous processing of remaining cases upon receiving complete vessel and captain information from detaining nations.

Analysts suggest the finish line is approaching. “Vietnam has accomplished more in eight years than many nations achieve in decades,” observers note. “Yellow card removal would not merely boost GDP, it would demonstrate Vietnam’s capacity for ocean governance leadership.”
Vietnam presents a transformed reality: bustling ports equipped with digital inspection infrastructure, vessels monitored by satellite tracking systems, and a fishing community actively upholding government mandates.

The issuer is solely responsible for the content of this announcement.

MANILA, PHILIPPINES – Media OutReach Newswire – 5 March 2026 – Leading global logistics service provider Rhenus Group has officially opened a new warehouse in Philippines’ Paranaque, Metro Manila. This marks the company’s effort to expand its presence as a leading logistics player in the Philippines, with plans to add more warehousing space in the near future.

The warehouse is strategically located in NCR, close to major business districts and offers excellent access to major transport routes via direct access from SLEX Sucat. The brand new 7,320 sqm multi-user warehouse facility features a very high ceiling of around 20m with full insulation. It has the highest level of structural integrity and meets very high safety and security standards. Some of the features include Optical Beam Smoke Detectors, Sprinklers, mechanical cross ventilation system, fully enclosed gated compound, 24×7 security guards, full CCTV coverage with 60 days video retention, intruder alarm system, etc.

With a focus on sustainability, the warehouse utilizes LED lighting, solar panel provision, and a skylight to harness natural light, in an effort to reduce its carbon footprint. The warehouse is in the process of obtaining ISO certifications in Quality Management Systems (QMS), Environmental Management Systems (EMS), and Occupational Health and Safety (OH&S) Management Systems.

The new warehouse expands the footprint of seven existing facilities across Manila, Cagayan de Oro, and Davao, strengthening nationwide coverage and smooth integration with global supply chains.

The freight and logistics market size in the Philippines is estimated at USD 16.20 billion in 2026 and is expected to reach USD 21.60 billion by 2031^[1].

“Rhenus Philippines will continue to strengthen our position further in the market. With the opening of this new warehouse, we are moving forward with our plan to continue to invest in modern and state-of-the-art facilities. This allows us to expand our footprint and product portfolio to serve our customers’ requirements with the highest level of efficiency, safety, security, and compliance,” said Deepak Sharma, Managing Director of Rhenus Warehousing Solutions Philippines.

Rhenus Philippines has strong expertise in chemical warehousing, consumer goods, machinery and industrial logistics. Together with its freight forwarding entity, it offers a wide range of comprehensive services to customers, including warehousing and distribution solutions, domestic inter-island shipping, customs brokerage, project logistics, as well as air, ocean, and road freight.

More information on Rhenus Philippines is available at:

https://www.rhenus.group/ph/

Hashtag: #Rhenus

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About Rhenus

The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 8.2 billion. 41,000 employees work at 1,330 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.

Leveraging Know Your Customer’s cutting-edge digital compliance platform, DBS Hong Kong will gain real-time access to comprehensive business verification data — including instant retrieval of official company documents and automatic identification of complex ultimate beneficial ownership (UBO) networks across more than 140 jurisdictions.

This AI-powered automation addresses the traditionally manual and cumbersome SME onboarding processes by streamlining the end-to-end business KYC process, efficiently verifying corporate structures and ownership, reducing manual effort and accelerating onboarding timelines. The result is significantly enhanced operational efficiency and a faster, more seamless onboarding experience for DBS Hong Kong’s business customers.

[Lareina Wang, Head of SME Banking, DBS Bank Hong Kong] said,

” At DBS Hong Kong, we are dedicated to reimagining the customer onboarding experience through continuous digital innovation. By engaging Know Your Customer, we leverage advanced technology to streamline CDD workflows, delivering faster service to our customers. This collaboration also represents a major advancement in automating SME onboarding processes that have historically been complicated and manual, solidifying SME banking position of DBS in the market of Hong Kong. “

Claus Christensen, CEO and Co-Founder of Know Your Customer, added,

“Our service provided to DBS Hong Kong exemplifies how financial technology can simplify complex onboarding challenges. With our global data coverage and AI-powered automation, we empower DBS Hong Kong to accelerate KYC processes and provide business customers with an unrivalled onboarding journey. Together, we are shaping the future of digital banking.”

In recognition of its visionary digital strategy, DBS Hong Kong was named Asia’s Best Digital Bank in 2025 by Euromoney. The bank also continues to lead digital innovation, evidenced by over 70% of Hong Kong SMEs already integrating or exploring AI and digital technologies as part of their operations, according to its recent SME survey.

This transformative collaboration underscores DBS Hong Kong’s unwavering commitment to innovation and delivering safe and trusted digital onboarding solutions in Asia’s rapidly evolving financial landscape.

Hashtag: #KnowYourCustomer

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About DBS Bank (Hong Kong) Limited

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025. In 2026, DBS won the “Triple A award – Best Digital Customer Onboarding Experience – Hong Kong”

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

About Know Your Customer Limited

Know Your Customer Limited is an award-winning RegTech company specialised in next-generation business verification solutions for financial institutions and regulated organisations worldwide. For teams struggling with inefficient client due diligence and onboarding processes, Know Your Customer offers an intuitive digital compliance workspace that combines unmatched real-time registry data, covering over 140 countries, seamless integrations, and AI-powered smart automation. This streamlined approach transforms the compliance function at its core, allowing customers to customise their solutions by selecting only the functionalities they need, all accessible via a robust REST API.

Founded in Hong Kong in 2015, with a local presence in Singapore, Dublin, London, and Shanghai, Know Your Customer has built a global customer base across 11 verticals and 18 jurisdictions. The company also maintains a wide network of technology and data partners, ensuring high-quality entity data and enhanced compliance processes for its customers.

For more information visit https://knowyourcustomer.comor follow Know Your Customer Limited on LinkedIn or X.

“Effective execution of our strategy drove strong financial performance and higher shareholder returns in 2025, despite a challenging retail environment. Our significant progress made in portfolio simplification creates investment capacity for strategic priorities, enabling greater value for our customers and accretive inorganic opportunities to drive sustainable growth and returns.”

Lincoln Pan

Chairman

DFI RETAIL GROUP HOLDINGS LIMITED

PRELIMINARY ANNOUNCEMENT OF RESULTS

FOR THE YEAR ENDED 31 DECEMBER 2025

INTRODUCTION

It is my honour and privilege to join DFI Retail Group (‘DFI’ or the ‘Group’) as Chairman of the Board, supporting Group Chief Executive, Scott Price, and his leadership team in executing its strategic priorities and delivering shareholder returns. On behalf of the Board, I would also like to express our gratitude to John Witt for his invaluable contributions to DFI over many years.

As Asia’s leading multi-format retail platform, DFI has a unique set of assets – strong customer trust, an extensive store network across markets, deep data insights from a powerful loyalty programme, and a strengthening Own Brand portfolio – that will serve as a foundation for growth over the coming years.

Amid macroeconomic volatility and evolving consumer needs, the Group has been responding effectively through a stronger value proposition and enhanced omnichannel capabilities. This strategy is yielding early and encouraging results, demonstrated by a 35% increase in underlying profit in 2025. We remain particularly optimistic about the growth prospects in Health & Beauty and Convenience, as well as the opportunities emerging in digital.

I am confident that under the capable leadership of Scott and his team, DFI will continue to deliver retail excellence to customers across Asia while driving long-term value creation and growth.

Under a new 70% dividend payout policy announced in December 2025, the Board recommends a final dividend of US¢10.50 per share (2024 final dividend: US¢7.00).

STRATEGIC HIGHLIGHTS

Over the course of 2025, the Group executed effectively against its strategic framework of Customer First, People Led, Shareholder Driven. This approach enables DFI to navigate market challenges while capturing opportunities that build on its strong platform for sustainable growth.

The retail landscape is rapidly evolving, driven by shifting consumer behaviour and digitalisation. The Group remains focused on strategic priorities that place customers first – delivering quality, value and convenience in everyday moments. Across its businesses, the Group made good progress in strengthening value propositions, expanding customer reach in growth markets, driving deeper customer engagement with data-driven insights and accelerating digital monetisation. These initiatives enhance its ability to better serve customers and supplier partners while delivering returns to shareholders.

Investing in talent development remains at the top of the agenda. During the year, the Group achieved an improved team member engagement score. Inclusive leadership, a purpose-driven culture and engaged team members are critical to driving stronger performance and delivering exceptional customer experience. In parallel, the Group continues to enhance its organisational agility in meeting customer needs while reducing overhead costs.

In 2025, the Group completed the divestments of minority stakes in Yonghui and Robinsons Retail, as well as Singapore Food business, enabling reinvestment in subsidiary businesses and strategic priorities with stronger growth and return potential. This approach, combined with a sharpened business focus and a strengthened balance sheet, delivered a total shareholder return exceeding 90% in 2025, including the distribution of a US$600 million special dividend in October.

PROSPECTS

Transformation is an ongoing journey for today’s retailers. Serving diverse communities across Asia, where economic conditions and consumer expectations vary widely, the Group must stay agile and locally relevant guided by a customer-first mindset and a disciplined focus on growth opportunities that further build on its competitive advantages. Over the year, DFI has invested in delivering better outcomes for customers through price reinvestment, Own Brand innovation, omnichannel expansion and data-driven personalisation – focus areas that will remain central to its growth plans in the years ahead. An expanded digital ecosystem also unlocks new avenues to drive deeper value for supplier partners and enhance shareholder returns.

I would like to end by expressing the Board’s appreciation to our team members. We could not be more proud of the work they have done over the year, particularly in responding to the deeply tragic Tai Po fire in Hong Kong. Their unwavering dedication to serving our customers across Asia is what will continue to drive our business forward and build long-term value for shareholders.

Lincoln Pan

Chairman

GROUP CHIEF EXECUTIVE’S REVIEW

INTRODUCTION

We are pleased to close 2025 on a strong note, with underlying profit attributable to shareholders up 35% year-on-year to US$270 million, reaching the high end of our guidance range. This strong performance was driven by a recovery in LFL subsidiary sales, improved margins and proactive portfolio actions, including the divestment of our minority stake in Yonghui.

Customers across Asia, including in our home market of Hong Kong, are increasingly seeking quality and convenience at great value. While macro challenges remain, we are encouraged to see early signs of recovery in key retail segments, including 3% growth in health and beauty sales in Hong Kong, supported by a 12% increase in tourist arrivals. As Asia’s leading multi-format omnichannel retail platform, we are uniquely positioned to meet customers’ evolving needs effectively across all channels through relevant and compelling customer propositions.

With a renewed focus on balancing profitability with capital discipline, the Group ended the year in a net cash position, after distributing a US$600 million special dividend, and delivered a significantly improved return on capital employed (ROCE) of 9.4%. Our strengthened balance sheet allows us to reinvest for growth as we deepen our focus on higher-return subsidiary businesses and strategic priorities that sustain value creation for shareholders. For the full year 2025, we returned a total of approximately US$740 million to shareholders, including the special dividend.

In December, we held our inaugural Investor Day where DFI announced a new dividend policy with an increased payout ratio of 70%. Dividends paid during the year, combined with a share price increase of more than 70%, resulted in a total shareholder return exceeding 90% in 2025. We also outlined our three-year plan for realising our financial ambitions and accelerated growth goals, including a target of US$310-350 million in underlying profit (representing 11% CAGR at the mid-point compared to 2025¹) and an improved ROCE of at least 15% by 2028.

As we enter the new financial year, we remain firmly focused on executing our strategic priorities to drive sustained, profitable growth.

STRATEGIC DELIVERABLES – KEY PROGRESS

Over the past year, we have made significant progress in our transformation from a portfolio business into a strategically focused operating company. We have been advancing our strategy across five key deliverables to create greater value for our customers, supplier partners and shareholders.

Retail Excellence

By delivering best-in-class customer propositions, we see a wide range of opportunities for driving higher store sales density and market share gain across all business segments.

Health & Beauty

Mannings and Guardian continue to strengthen their position as the trusted advisor for wellness, unlocking strong cross-category growth opportunities through an assortment with high functional value across supplements, derma skin care and hair care. Customers across Asia are increasingly shifting to retailers that best fulfil their broad, diverse and unique wellness goals. Our technology-enabled personalised services – including skin, scalp and health assessments – drive higher purchase conversion and basket size by deepening customer understanding of their wellness needs. These capabilities will be expanded to 25% of our Health & Beauty store network to enhance our competitive differentiation and leadership in wellness.

Convenience
7-Eleven is broadening its shopper missions towards higher-margin, non-cigarette categories with a strategic focus on ready-to-eat (RTE) offerings, which accounted for 24% of Convenience sales in 2025. Across markets, consumers are seeking more convenient, high-quality and value-driven meal solutions. The expansion of Food Bars to 1,250 locations in South China and the rollout of RTE-focused store revamp across the entire Hong Kong network by 2028 will further strengthen 7-Eleven’s RTE proposition.

Food

Given consumers’ pivot towards value, continued northbound travel and increasing competition from Chinese mainland e-commerce platforms, the Wellcome team has focused on enhancing food basket value for customers by advancing our Everyday Low Price strategy. Investment in reduced pricing through strategic direct sourcing of core basket items, particularly in fresh, has resulted in a 2% growth in volume driven by higher footfall and increased items per basket. Direct sourcing allowed us to reduce prices while protecting gross profit, resulting in a 30-basis point gross margin improvement. These efforts further supported the narrowing basket price gap compared to the Greater Bay Area to a currently low single-digit price difference².

Home Furnishings

Similar to Food, IKEA has focused on enhancing its affordability and accessibility by reinvesting in the pricing of high-volume products, broadening the range of entry price points, rationalising the tail of slow-selling assortment, and further expanding digital touchpoints through third-party marketplaces. We are also strengthening IKEA Food as a key draw for customers seeking exciting and affordable food experiences as part of their store journey. These efforts are supported by significant cost transformation initiatives across our operating markets.

Own Brand

Our reset in Own Brand strategy across Food and Health & Beauty is driving higher customer loyalty and sales penetration through greater exclusivity and value. By refining our product range to align closely with customer needs and maximising cross-selling across our formats, we achieved meaningful improvements in margins and sales productivity.

Access to Customers

We continue to strategically expand our network in high-growth, profitable markets, primarily through a capex-light franchise model, with 114 net new openings³ in 2025. In particular, we will deepen 7-Eleven’s presence in Guangdong province to around 2,400 stores and expand Guardian’s footprint in Indonesia to approximately 750 stores by 2028.

Omnichannel and Data Ecosystem

DFI’s expanded omnichannel ecosystem is elevating our relevance and engagement with customers, providing us deep data insights across daily consumer needs that few peers in Asia can match. This ecosystem now allows our customers to engage with DFI brands across more than 90 digital channels, including apps, websites, third-party marketplaces, quick-commerce partnership with food delivery platforms and click-and-collect services. Our strengthened digital proposition was underpinned by a 140-basis point increase in online sales penetration to 6.4%⁴ as at year-end 2025, with order volume more than doubled year-on-year. Our overall digital ecosystem, comprising e-commerce, retail media, insights monetisation and yuu, continues to drive improved financial returns for the Group.

Retail Media (DFIQ Media)

Positioned to become Asia’s leading omnichannel retail media network, DFIQ Media offers a differentiated online and offline advertising proposition, enabling brands to execute cross-format campaigns through our digital assets and more than 10,000 in-store digital screens across markets. DFIQ Media delivered strong sales growth, albeit from a low starting base, achieving a fourfold increase in revenue over 2024, supported by proprietary data insights from over 7 million monthly active users across our growing digital portfolio.

DFIQ Portal

We aim to empower our supplier partners with actionable insights that drive greater business impact and better outcomes for customers. The DFIQ Portal – a vendor platform combining DFIQ Media, DFIQ Insights and trade capabilities – was launched in December 2025, providing suppliers real-time access to critical analytics that enables optimised inventory management and more effective strategic planning.

Retail Analytics

Leveraging cross-format data insights from over 5 million yuu Rewards members in Hong Kong, we continue to enhance our assortment and promotional decisions to help expand both in-store sales and gross profit.

Lean & Agile Model

Maintaining a lean and agile operating model is essential to ensuring efficient decision-making in a rapidly evolving retail landscape. Continued cost optimisation and better product sourcing will support both strategic price reinvestment and sustainable margin expansion in the coming years. Overhead reductions are expected to translate into lower SG&A costs beginning 2026. We remain disciplined in capex, driving network growth primarily through a franchise model with a strong focus on paybacks.

Strategic pivot from portfolio to a focused operating company

We conduct strategic reviews of our businesses guided by return on capital and total shareholder return priorities. During the year, we completed the divestment of our minority stakes in Yonghui and Robinsons Retail, as well as our Singapore Food business, generating total gross proceeds of approximately US$1 billion in cash consideration. In line with our capital allocation priorities, these proceeds were redeployed towards debt repayment, resulting in a net cash position of US$70 million as at year-end 2025. In addition, a special dividend of US$600 million was distributed to shareholders in October 2025. The Group remains focused on maximising total shareholder return while maintaining strategic flexibility for inorganic growth opportunities that are accretive to long-term shareholder value.

2025 PERFORMANCE

Total revenue from subsidiaries in 2025 was US$8.9 billion, up 1% on a LFL basis, excluding cigarettes. Organic revenue, excluding divested businesses⁵ for the comparable period, grew 0.5%. Strong sales growth in the Health & Beauty division was offset by lower contributions from other segments.

Excluding the impact of the minority stake divestments in Yonghui and Robinsons Retail completed in 2025, total revenue for the Group, including 100% of associates and joint ventures, remained broadly stable.

The Group reported total underlying profit attributable to shareholders of US$270 million for the year, up 35% year-on-year. This was supported by improved profitability from subsidiary businesses, lower financing costs and higher underlying profit from associates following the divestment of Yonghui.

Underlying profit from subsidiaries was US$183 million, 15% higher than the prior year. This was driven by strong Health & Beauty performance in addition to earnings recovery in Singapore Food and Home Furnishings segment, partially offset by lower contribution from Convenience due to reduced cigarette volume.

The Group’s share of underlying profit from associates was US$88 million, an improvement of US$45 million compared to the prior year, primarily due to the divestment of minority stake in loss-making Yonghui and higher contribution from Maxim’s as a result of improved mooncake sales and restaurant performance in Southeast Asia. Despite challenging trading conditions in Hong Kong and Chinese mainland, Maxim’s delivered profit growth in these regions through cost optimisation.

The Group reported operating cash flow after lease payments of US$430 million, 30% higher than the prior year, supported by underlying operating profit growth. Free cash flow⁶ for the period was US$281 million, up 78% year-on-year. As at 31 December 2025, the Group’s net cash was US$70 million, compared to US$468 million net debt at 31 December 2024.

SUSTAINABILITY

We remain firmly committed to our purpose to sustainably serve Asia for generations with everyday moments – with a focused, balanced, collaborative approach taking into account the macroeconomic environment and consumer sentiment. We are driving progress on our pathway to reduce our Scope 1 and 2 emissions by 50% by 2030 from a 2021 baseline, with our targeted investments in refrigerant emissions management, energy efficiency, and behaviour-change initiatives across our operations gaining momentum throughout the year. From 2025 to 2030, we will further increase the share of renewable energy use in our portfolio, helping to accelerate the energy transition in the key markets where we operate.

As advocates for our customers and the communities we serve, we are committed to delivering affordable, sustainable products. In 2025, we delivered 380 tonnes of Own Brand low-carbon rice to our Hong Kong markets and added multiple products through our Grounds to Green programme to our 7-Eleven RTE range. These award-winning initiatives demonstrate our ability to anticipate customer expectations and deliver on market demands. We maintained strong discipline in waste and packaging management, keeping us on track to meet our 2030 targets.

BUSINESS REVIEW

HEALTH AND BEAUTY

Sales for the Health and Beauty division grew 7% year-on-year or 5% on an LFL basis to US$2.6 billion. Underlying operating profit was US$228 million for the year, representing an increase of 8% compared to 2024.

Both Mannings and Guardian achieved strong LFL sales performance, supported by growing wellness sales penetration towards the mid-term target of over 35%. To further strengthen our leadership in wellness – a cross-category opportunity spanning health, beauty and personal care – Mannings and Guardian complemented their wellness-focused assortment with in-store health, skin and scalp assessments in selected outlets. Our personalised consultations and tailored product recommendations deepen our engagement with customers, supporting larger basket sizes and higher purchase conversion.

Hashtag: #DFIRetailGroup #Mannings #Guardian #7-Eleven #Wellcome #MarketPlace #IKEA #yuu #Maxim’s

The issuer is solely responsible for the content of this announcement.

DFI Retail Group