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Dr C. J. Roy, the founder and chairman of Bengaluru-based Confident Group, died by suicide at his company office on Friday as officials from the Income Tax Department were conducting searches and questioning him, police and local authorities said. The 57-year-old was found with a gunshot wound inside his Langford Road office near Richmond Circle and was declared dead after being rushed to a hospital in HSR Layout. Authorities have launched a full investigation into the circumstances of his death, with forensic teams completing initial examinations and a post-mortem underway.

Police said staff heard a shot during the afternoon and alerted authorities, who found Roy injured in an inner room. He had reportedly been retrieving documents at the request of investigators when the incident occurred. Bengaluru Police Commissioner Seemant Kumar Singh described the case as a suspected suicide, noting that formal determinations will follow once the investigation and autopsy are complete. No suicide note has been confirmed at this stage.

The Income Tax Department’s presence at the Confident Group’s premises was part of a broad examination of financial records and compliance, which has extended over several days, according to law enforcement sources. Officers from the department were reviewing documentation linked to tax filings and other regulatory matters when Roy took his life. While some observers have drawn a link between the tax probe and his actions, senior police officials emphasised that motive has not been officially established and will be determined through detailed inquiry.

Confident Group has been a prominent name in the real estate sector for nearly two decades. Founded by Roy in 2005, the company grew from regional developments in Karnataka and Kerala to a diversified conglomerate with interests spanning residential and commercial real estate, hospitality and international ventures. The group’s portfolio included a large number of projects across southern India, and it had expanded into markets such as the UAE and the United States as part of its global strategy.

Roy, born Chiriankandath Joseph Roy and originally from Kerala, was widely recognised within Indian and international business communities. He held a PhD and had previously worked in the corporate sector before building his own enterprise into a major developer known for its ambitious projects and rapid growth. Beyond real estate, Roy was active in film production, backing several Malayalam films, and was seen as a cultural figure in his home state’s entertainment circles.

Industry analysts said the shock of his death will be felt across the real estate sector, where business leaders are already navigating a complex regulatory environment. The dual pressures of compliance with income tax requirements and ongoing litigation in tax and financial courts had placed significant strain on the leadership of Confident Group in recent months. Commentators on social media and industry platforms highlighted the need for greater support systems for executives coping with legal and financial scrutiny, although specific links between the probe and Roy’s decision are yet to be confirmed by officials.

Confident Group’s operations included a mix of residential communities, commercial complexes and mixed-use developments, with the company touting a “zero-debt” business approach that set it apart from many competitors in a sector often challenged by leveraged growth models. The firm’s international footprint, including property development in Dubai, had positioned it as a notable player in cross-border real estate development.

Family representatives and close associates have been approached by investigators as part of the inquiry, and police have indicated that statements from relatives and colleagues are being recorded to build a clearer picture of Roy’s state of mind and the events leading up to his death. As the probe continues, authorities have pledged to share further details when available.

The event was officiated by Prof. Timothy TONG, Chairman of the Research Grants Council (RGC); Mr Osher GILINSKY, Vice President for Asia Pacific, Academia and Government, Clarivate; and Prof. Christopher CHAO, Senior Vice President (Research and Innovation) of PolyU, who delivered opening remarks.

Celebrating PolyU’s exceptional research achievements and their far-reaching impacts on society, the Nation and the world, Prof. Tong stated, “The PolyU Research Excellence Report vividly demonstrates its commitment to sustainable development, reflecting the dedication and innovation of its faculty, researchers and students.” Prof. Tong commended PolyU for its effective use of research resources, noting the significant advancements in AI-driven medical breakthroughs, climate solutions and sustainability. He further emphasised the RGC’s ongoing commitment to supporting research that addresses major societal challenges, exemplified by initiatives such as the Research Impact Fund. Additionally, he reaffirmed the RGC’s partnership with universities in strengthening Hong Kong’s status as a global knowledge hub.

Recognising PolyU’s outstanding global research performance, Mr Gilinsky elaborated, “In recent years, PolyU has demonstrated high research productivity in high quality, driving for high impact for the society. PolyU was granted 1,020 patents between 2020 and 2024, the second highest among UGC-funded universities. To enhance research translation, PolyU has formed partnerships with companies including NVIDIA, Huawei and Alibaba. These achievements illustrate PolyU’s international connectivity, diverse disciplinary strengths and strong culture of research translation. Leveraging its strength with the Chinese Mainland resources, PolyU is also accelerating knowledge transfer and identifying emerging areas for discovery, particularly in AI-powered healthcare, sustainable engineering, advanced manufacturing and smart city development—fields where it aims for global leadership.”

Prof. Chao emphasised, “The report is a testament to years of dedicated effort, groundbreaking innovation and the unwavering commitment of the PolyU academic community. In 2025, we are proud to have 21 PolyU scholars named Highly Cited Researchers by Clarivate, while 428 rank among Stanford University’s World’s Top 2% Most-cited Scientists—placing PolyU second among Hong Kong tertiary institutions. Our Strategic Plan 2025/26 – 2030/31, themed ‘Unite to Meet Challenges, Innovate to Benefit Society,’ will further empower PolyU to deliver even more transformative contributions to society.”

Clarivate has been forging continuous collaborations with numerous institutions, including co-authoring the report series The impact of research undertaken by universities in Hong Kong with UGC in 2022. Produced by Clarivate using authoritative data from the Web of Science, the PolyU Research Excellence Report delivers a comprehensive assessment of the University’s overall research performance and achievements, highlighting PolyU’s global leadership in engineering, advancements in powering medical research with emerging AI technologies, and unique contributions to the hospitality, fashion and textile, design and art disciplines that distinguish the University on the global stage.

PolyU’s strengths are exemplified by its leadership in Hong Kong’s research output growth, achieving the highest number of publications among UGC‑funded universities in 2024. Nearly 40% of its outputs are internationally co-authored, while 27% involve QS Top 50 university partners. The quality and impact of the University’s research output are further evidenced by its strong disciplinary performance. In the QS World University Rankings by Subject 2025, seven PolyU disciplines rank in the global Top 30, while, overall, 26 disciplines are listed among the world’s Top 100, underscoring the breadth and depth of the University’s academic excellence across multiple fields.

Following the report launch, the Impact Forum featured a high-level panel discussion on “Innovations and Challenges in Research Evaluation”. The discussion facilitated insightful exchanges between the panel and attendees on evolving approaches to research assessment, the importance of measuring societal impact and strategies for fostering cross-institutional collaboration.

Hashtag: #PolyU #Clarivate #ResearchOutput #AIMedical #Engineering #HongKong

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

Hong Kong’s first exchange-traded fund directly tracking physical gold prices posted a sharp rise on its trading debut on Thursday, underscoring renewed investor appetite for safe-haven assets as bullion climbed to a fresh all-time high in international markets.

The Hang Seng Gold ETF gained more than 9% within hours of listing, according to exchange data, drawing robust turnover from institutional and retail investors seeking exposure to gold without holding the metal outright. The launch coincided with spot gold touching a record level just below $2,500 an ounce, driven by a combination of monetary policy expectations, geopolitical uncertainty and sustained central bank demand.

Market participants said the strength of the debut reflected pent-up demand in Hong Kong for simple, exchange-based gold products that track global prices more closely. While futures-linked and commodity-basket funds have existed for years, the new ETF is structured to mirror spot prices using physical gold holdings, reducing tracking error and rollover costs.

Gold’s advance has been underpinned by expectations that major central banks are approaching an inflection point in interest-rate policy. Slowing inflation in the United States and Europe has reinforced the view that rate cuts could come later this year, weakening the dollar and lowering the opportunity cost of holding non-yielding assets such as gold. The metal has also benefited from persistent buying by central banks seeking to diversify reserves amid currency volatility and sanctions-related risks.

In Hong Kong, the ETF’s issuer said the product was designed to meet demand from investors who view gold as both a hedge against macroeconomic shocks and a portfolio diversifier. The fund allows trading in local currency during market hours, offering an alternative to offshore accounts or over-the-counter bullion purchases.

Analysts noted that the timing of the launch proved advantageous. Global gold prices have risen by more than 20% over the past year, supported by strong inflows into bullion-backed products in Asia and the Middle East. In contrast, flows into some gold ETFs listed in North America had been uneven earlier in the cycle, reflecting higher real yields and competition from cash-like instruments. That pattern has shifted as expectations around policy easing firmed.

Hong Kong’s exchange has been seeking to broaden its commodity and currency-linked offerings to attract regional capital, particularly from mainland investors using cross-border trading channels. Although access rules vary by product, fund managers said interest from family offices and private banks was a key driver of early demand for the gold ETF.

Spot gold’s climb to record territory has also been fuelled by geopolitical tensions spanning Eastern Europe and the Middle East, alongside concerns about sovereign debt sustainability in several advanced economies. Such factors have reinforced gold’s role as a store of value during periods of heightened uncertainty.

Bullion dealers in Asia reported steady physical demand from jewellery manufacturers and investors, even as higher prices tempered buying in some price-sensitive markets. Premiums in major trading hubs narrowed but remained positive, signalling underlying support rather than speculative excess.

The strong opening performance of the Hang Seng Gold ETF contrasts with more subdued debuts for some equity-linked funds in the city this year, highlighting the divergence between defensive assets and riskier sectors. Equity markets in the region have faced headwinds from uneven growth prospects and regulatory uncertainty, pushing some investors to rebalance portfolios towards commodities and hard assets.

Industry observers cautioned that gold prices can be volatile in the short term, particularly if inflation data or central bank guidance shifts market expectations. A stronger-than-expected rebound in growth or a delay in policy easing could trigger profit-taking after the metal’s sharp run-up. Even so, many strategists maintain that structural factors, including reserve diversification by monetary authorities and long-term fiscal pressures, provide a supportive backdrop.

AI-related Attacks and Supply Chain Risks Emerge as Top Concerns Nearly 30% of Enterprises Lack Dedicated Cybersecurity Personnel

HONG KONG SAR – Media OutReach Newswire – 28 January 2026 – The Hong Kong Computer Emergency Response Team Coordination Centre (HKCERT), under the Hong Kong Productivity Council (HKPC), today hosted a media briefing to officially release the annual “Hong Kong Cybersecurity Outlook 2026”. The report reveals that cyberattacks have become more automated, targeted, and destructive with the rapid proliferation of Artificial Intelligence (AI) technologies, posing significant threats to business operations and information security. A record high 15,877 cybersecurity incidents were recorded in Hong Kong in 2025, marking a 27% year-on-year increase. The report also highlights five key cybersecurity risks expected to emerge in 2026, mainly under AI-related threats and supply chain vulnerabilities.

HKCERT also released the findings of the “Hong Kong Enterprise Cybersecurity Landscape”, which analyses the current state of local enterprises’ cybersecurity defences and resource allocation in the face of cyber risks. The study covered 622 enterprises (including 544 SMEs and 78 large enterprises) and interviewed 50 cybersecurity service providers to assess the key factors businesses consider when selecting cybersecurity services. The findings reveal that nearly 70% of enterprises have dedicated cybersecurity personnel, showing the increasing importance local businesses place on cybersecurity. Many SMEs have also begun strengthening their security measures, demonstrating a proactive awareness of cyber threats. However, they were behind large enterprises in terms of technology deployment and resource allocation. Moreover, around 35% of businesses using AI would enter corporate data into AI tools, suggesting that there is still room for improvement in local overall defence capabilities and AI governance awareness.

Mr Edmond LAI, Chief Digital Officer of HKPC, stated, “The proliferation of AI can drive innovation, but it can also become a powerful tool for hackers, making cyber threats stealthier and more scalable. Our report indicates a lack of governance in corporate use of AI tools. In particular, the limited resources and knowledge of SMEs may limit their full understanding of the potential risks involved. Moreover, supply chain attacks have become the weakest link in enterprise security, where a single vendor’s vulnerability can trigger a chain reaction of crises, even if the enterprises have robust protective measures. To address these challenges, enterprises must shift from passive response to proactive deployment, starting with establishing clear AI usage guidelines and audit mechanisms, and deeply integrating them into the overall cybersecurity strategy”.

Overview of Cybersecurity Incidents in 2025:

Phishing Accounts for Nearly 60% – Record-High Number of Cases

According to the latest statistics from HKCERT, a total of 15,877 cybersecurity incidents were reported in 2025, marking a new record high. Among them, phishing attacks remained the most prominent threat, accounting for nearly 60% (57%) of total cases. The rise of generative AI has made phishing messages increasingly realistic and harder to detect, further amplifying the associated risks. Attack delivery methods have expanded beyond traditional email to social media or instant messaging platforms (such as WhatsApp) (34%) and cryptocurrency platforms (18%).

In parallel, cases involving vulnerable systems also saw a sharp increase, with 2,328 incidents (15%), representing a more than 3.5-fold rise compared to the previous year. This suggests that attackers are actively exploiting misconfigurations and unpatched system vulnerabilities. Meanwhile, botnet-related incidents remained steady at 18%. While stable in number, botnets are notoriously difficult to eradicate completely, representing a long-term latent threat.

Top 5 Cybersecurity Risks in 2026

Based on industry expert analysis and HKPC’s ongoing research into the local business environment, and considering industry trends and technological developments, HKCERT predicts that the following five cybersecurity risks will pose significant challenges to businesses in 2026:

1. AI-Driven Attacks and Agentic AI Risks
2. Weak AI Governance of Enterprises Increases Data Leakage Risks
3. Supply Chain Vulnerabilities and Third-Party Security Gaps
4. Over-Reliance on Cloud Infrastructure Creates Single Points of Failure
5. Emerging Threats from AI-Enabled Devices

30% of Enterprises Lack Dedicated Cybersecurity Staff, SMEs Lag in Defense and Investment

“The Hong Kong Enterprise Cybersecurity Landscape” reveals nearly 70% of enterprises have dedicated cybersecurity personnel, showing the increasing importance place on cybersecurity. By company size, 67% of SMEs have personnel responsible for cybersecurity, and 95% of large enterprises do. Among them, 26% of SMEs have dedicated cybersecurity personnel, which is lower than the 59% of large enterprises, reflecting different challenges in resource allocation and professional support for companies of different sizes.

Many SMEs have already implemented basic protective measures, such as 48% of SMEs have adopted email security, but there is still room for improvement when compared to the 79% of large enterprises. For Privileged Access Management (PAM), 29% of SMEs are employed, which is still lower than 60% of large enterprises. The figure on using Advanced cybersecurity practices, such as Remote Access Security Measures (SMEs 31% vs 67%), also reflects that SMEs still need support in promoting technological upgrades, especially when data security is increasingly important today, the protection of SMEs of all sizes cannot be ignored.

Regarding investment and resource allocation, SMEs are generally cautious in their investment, but some companies have gradually increased their investment in cybersecurity and training. In the past year 13% of SMEs increased cybersecurity-related resources (including staff and tools), and 12% invested more resources in cybersecurity training. In comparison, the proportions for large enterprises were 41% and 50%, respectively. Looking ahead to the next 12 months, SMEs are relatively conservative in their plans for increasing resources — no matter in recruitment of cybersecurity personnel (SMEs 5% vs 15%), training (SMEs 13% vs 38%) and budget (SMEs 13% vs 36%). However, as cyber threats evolve, it is believed that enterprises will gradually increase their related investments to strengthen their overall defense capabilities.

HKCERT’s Five Key Recommendations: Helping Enterprises Build Effective Cyber Defenses

HKCERT has outlined five key recommendations to help enterprises strengthen their cybersecurity posture:

1. Assigning Personnel for Cybersecurity: Enterprises should assign employees with basic cybersecurity knowledge to be responsible for daily monitoring and response work, with clear division of responsibilities to ensure timely response to emergencies.
2. Promoting AI Governance and Regulation: As the application of AI tools and third-party platforms becomes increasingly widespread, enterprises should formulate relevant policies and operational guidelines, clearly specifying the available tools and scope of data input, as well as procedures for responding to third-party incidents, to minimise operational and reputational risks.
3. Collaborative Efforts of All Staff to Prevent Phishing Attacks: Enterprises should adopt both technical measures (such as email filtering and multi‑factor authentication) and an organisation‑wide security culture to jointly defend against phishing attacks. This helps enhance each employee’s ability to identify suspicious emails and links, thereby reducing the risk of data leakage.
4. Enhance Cybersecurity Awareness and Training across all Staff: Cybersecurity is a shared responsibility across the entire organisation. Enterprises should regularly provide targeted security training for different departments—especially for roles that handle sensitive data—and strengthen incident response capabilities through simulation exercises and case‑based learning to reduce human error.
5. Strengthen Technical Protection Measures: Enterprises should implement essential cybersecurity technologies, including:
   • Email security and access‑rights control
   • Data protection measures (such as encryption and backup)
   • Remote access security measures mechanisms (such as VPNs and identity authentication)
   • Proactive security solutions (such as intrusion detection and firewall monitoring)

As cyber threats grow increasingly complex and attack techniques become more advanced, enabling SMEs to effectively deploy cybersecurity defences has become a shared responsibility across society. In addition to operating a 24-hour incident reporting and supporting hotline, HKCERT continuously monitors local online activities. When cyberattacks targeting Hong Kong are detected, it proactively traces and disrupts the source and issues timely public alerts. In recent years, HKCERT has also leveraged self‑developed AI systems to take down phishing websites in advance, preventing incidents before they occur. To strengthen preventive measures and promote education among SMEs, HKCERT has published multiple security guidelines addressing emerging technology risks, helping technical personnel understand and adopt appropriate protection strategies. At the same time, HKCERT actively promotes cybersecurity awareness through a dedicated webpage on in‑depth analysis of major phishing and ransomware attacks, as well as by organising large‑scale public events and participating in over 30 seminars annually.

Since last year, HKCERT further acted as a bridge between SMEs and cybersecurity service providers to launch the Cybersecurity Service Providers Connect Programme with Digital Policy Office. The Programme offers a one-stop platform that brings together 21 vetted cybersecurity service providers, covering four key areas, including Internet Security Solutions, Cybersecurity Assessment Services, Managed Security and Incident Response Services, and Cybersecurity Training Services. It helps SMEs quickly identify suitable solutions and strengthen their cyber defence capabilities. The Programme will continue to enhance its services, promote resource sharing, and collaborate with the industry to build a safer digital business environment.

Hashtag: #HKCERT

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

About Hong Kong Computer Emergency Response Team Coordination Centre

Managed by the Hong Kong Productivity Council (HKPC), Hong Kong Computer Emergency Response Team Coordination Centre (HKCERT) is the centre for coordination of computer security incident response for local enterprises and Internet Users. Its missions are to facilitate information disseminating, provide advices on preventive measures against security threats and to promote information security awareness.

HKCERT collaborates with local bodies to collect and disseminate information, and coordinate response actions. HKCERT is also a member of the Forum of Incident Response and Security Teams (FIRST) and the Asia Pacific Computer Emergency Response Team (APCERT). We exchange information with other CERTs and act as a point of contact on cross-border security incidents.

About the Hong Kong Productivity Council
The Hong Kong Productivity Council (HKPC) is a statutory body established in 1967, dedicated to enhancing the productivity and competitiveness of Hong Kong enterprises through world-class applied R&D, innovative technology services, and integrated manufacturing solutions. As a market-oriented, international R&D organisation, HKPC leverages its deep expertise and extensive industry experience in key areas such as AI, advanced manufacturing, life and health technology, green technology and new energy to drive new industrialisation and support the growth of emerging and future industries.

HKPC focuses on addressing businesses challenges and industrial technology needs, promoting the full integration between technological and industrial innovation. Through technology transfer, product innovation, intellectual property protection and commercialisation of R&D outcomes, the Council fosters collaboration with the local business community as well as top global R&D institutions, delivering added value to industries and advancing the development of new productive forces. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades, reinforcing Hong Kong’s role as an international innovation and technology centre and a smart city.

To help enterprises capitalise on Hong Kong’s strengths in international connectivity to expand into global markets, HKPC offers comprehensive overseas expansion services tailored to critical areas including product development, technology, manufacturing, and management, enabling businesses to successfully go global from Hong Kong.

HKPC is also committed to providing timely and practical support to SMEs and startups with timely and practical , assisting them in accessing Government funding programmes. Through its FutureSkills training initiatives, HKPC helps both industry and academia stay ahead in latest digital and STEM technologies, nurturing a future-ready talent pool for Hong Kong.

For more information, please visit HKPC’s website: www.hkpc.org/en.