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“This year marks the opening year of the National 15th Five-Year Plan. In the thick of accelerating global changes not seen in a century, the vibrant momentum driven by our country’s robust strength, enormous market and high-quality development presents Hong Kong with boundless opportunities. We will better develop our economy and boost social well-being, starting a bright new chapter for Hong Kong,” Mr Lee said.

Entitled “A Strategic Vision for a Bright New Era, Driving Reform and Boosting Development, Unleashing Opportunities and Enhancing Livelihood”, the Policy Address takes the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (Hong Kong’s First Five-Year Plan) as its blueprint, and proposes numerous key measures focusing on five major development opportunities to advance high-quality development.

To attract and retain high-calibre talent, the Hong Kong Special Administrative Region (HKSAR) Government will expedite the development of the Northern Metropolis University Town to strengthen the city’s position as an international education hub. The HKSAR Government will also increase the research postgraduate places by around 30 per cent and the quota for government scholarships by 200, and establish five new major academies for training international talent: the International Clinical Trial Academy, Maritime Academy, Hong Kong International Legal Talents Training Academy, Hong Kong Intellectual Property Academy and Hong Kong International Academy of Policing.

To promote industry development, the Policy Address proposes to accelerate development of an international gold trading market and to explore a proposal to provide tax concessions for qualifying activities within the gold and commodity trading ecosystem. The HKSAR Government will also announce details of the new Renminbi-denominated and physically settled gold futures contracts; explore the possibility of increasing the Exchange Fund’s gold holdings, and gradually transfer its physical gold holdings to designated vaults appointed by the Hong Kong Precious Metals Central Clearing Company Limited.

A number of policies are proposed to promote industry development, including introducing specialty insurance (e.g. commodity, commercial aerospace, etc.); injecting funding into the Artificial Intelligence Subsidy Scheme to support the development of the intelligent computing industry; accelerating the adoption of medical innovation and industry chain development to enable the public to benefit from better and newer drugs; and fostering a new economic landscape for the low-altitude and emerging industries, such as commercial aerospace.

The Government is developing six special industry parks, including the Loop Hong Kong Park, San Tin Technopole, Hung Shui Kiu Industry Park, Sandy Ridge Data Facility Cluster and Hung Shui Kiu/Ha Tsuen modern logistics cluster. Land is also earmarked for building an advanced construction industry park to increase investment opportunities for enterprises.

To attract enterprises to establish a foothold in Hong Kong, tax concessions will be granted on the basis of the value brought by enterprises, instead of solely considering the industry sector. The Government will introduce an amendment bill this year, providing preferential tax rates of 5 per cent, or half-rate, for selected enterprises operating in key sectors such as finance, advanced manufacturing, innovation and technology, as well as research and development, headquarters activities and logistics and supply chain management.

The HKSAR Government will fully support the work of the International Organization for Mediation headquartered in Hong Kong, and build a global capital of mediation. It will also drive the establishment of the International Institute for the Unification of Private Law in Hong Kong, support the Judiciary to advance the development of the International Commercial Court, and establish the “Strategy Committee on Intellectual Property Trading Development” to assist the Government in formulating strategies and support measures for the promotion of intellectual property trading.

Regarding international co-operation, two United Nations (UN) organisations, the centre of excellence on global advanced manufacturing and the Office on Drugs and Crime’s GlobE Network Asia Pacific Regional Bureau, will establish their presence in Hong Kong respectively. Elsewhere, the new WestK Performing Arts Centre, scheduled to open next year, will feature four performance venues built to the highest international theatre standards, while Asian and international sports associations will be encouraged to establish a presence in Hong Kong.

“Today, Hong Kong is at a critical juncture in advancing from stability to prosperity. We are fully aware that formulating a comprehensive, strategic roadmap is integral to our long-term development. The Government has been persistent in mapping our way by driving development through reform. The primary goal of our policies is to enable economic development that can benefit the people of Hong Kong, and meet their aspirations for a better life,” Mr Lee said.

Please visit www.policyaddress.gov.hk for the details and key points of the Policy Address.

Hashtag: #HongKong #PolicyAddress #Strategic #Vision #NewEra

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The 2026-2030 plan, released on Wednesday, calls for an integrated gold ecosystem covering storage, trading, clearing, refining and related financial services, while encouraging more renminbi-denominated commodity products. The government said it would strengthen links with mainland exchanges and attract international investors as it develops the city’s role as a global offshore renminbi centre.

It describes gold as an asset and envisages a one-stop storage, trading and clearing centre.

The strategy gives formal five-year backing to a gold-market expansion already under way. Hong Kong began trial operations of a central clearing and settlement system for gold in July and plans to launch the system formally in the first quarter of 2027. The administration is also seeking to expand storage capacity, improve refining capability and support more gold dealers and financial institutions in establishing operations in the city.

The plan says Hong Kong will explore renminbi-denominated gold and commodity markets and deepen co-operation with the Shanghai Gold Exchange and Shanghai Futures Exchange. It also aims to increase the range of products priced in the Chinese currency and encourage the use of renminbi for pricing and settlement in spot commodity transactions.

Chief Executive John Lee’s administration has framed the programme as part of a broader effort to strengthen Hong Kong’s position as an international financial centre while aligning more closely with China’s national development priorities. The five-year plan also seeks to enlarge the city’s offshore renminbi business, improve liquidity support and expand the range of renminbi bonds and other financial products.

Hong Kong remains the world’s largest offshore renminbi market. The government said offshore renminbi lending reached a record 935 billion yuan in 2025, while renminbi bond issuance reached 1 trillion yuan for a second consecutive year. The new plan proposes a dedicated offshore renminbi liquidity provision mechanism and wider use of the currency in trade, investment, financing and government expenditure.

Gold is intended to provide the first platform for a wider commodities push. The government said Hong Kong would use its status as an approved delivery point in the London Metal Exchange’s global warehousing network to develop trading, risk-management and financing services across additional commodities.

Since Hong Kong joined the LME warehousing network in 2025, approved storage space has exceeded 60,000 square metres and metal inventories have risen above 20,000 tonnes, according to the government. Authorities plan to facilitate more LME-approved warehouses in the Northern Metropolis and introduce a half-rate tax concession for physical commodity trading to attract additional market participants.

The Hong Kong Exchanges and Clearing group also plans to announce details this year for new renminbi-denominated, physically settled gold futures contracts. The government said the contracts are intended to strengthen the currency’s role in precious-metal pricing and provide another channel for international investors to gain renminbi exposure.

Other measures include possible tax concessions for qualifying gold and commodity activities, additional insurance capacity for gold storage and trading, and support for an industry-led trade association. Officials are also examining tokenised warehouse-receipt financing and blockchain-based systems that would allow commodity inventories to be used more flexibly as collateral.

The administration has set a target of lifting Hong Kong’s gold storage capacity to more than 2,000 tonnes within three years. It is also encouraging internationally qualified refiners to establish or expand local operations, with government agencies assisting interested companies in identifying sites and navigating regulatory requirements.

Closer integration with mainland markets is another element of the strategy. The plan calls for wider market access between Hong Kong and mainland gold markets and further collaboration with the Qianhai Mercantile Exchange, including development of renminbi-settled commodity futures, options and spot products.

As the Macau Grand Prix weekend revs up, on 20 and 21 November, Galaxy Macau gathers a standout line-up of 15 of Asia’s most awarded chefs and mixologists for the anticipated return of its eponymous dining festival – early bird tickets on sale now

MACAU SAR – Media OutReach Newswire – 15 September 2026 – On 20 & 21 November, Galaxy Macau elevates its gastronomic offering with the standout eponymous edition of Galaxy Stars of Gastronomy 2026. The fourth presentation of Galaxy Macau’s large-scale immersive outdoor culinary event will showcase an elite line-up of 12 of the region’s most sought-after culinary masters, deliveringa cumulative 24 Michelin stars. In addition, featuring three prominent mixologists, including this year’s Asia’s 50 Best Bar’s champions. Galaxy Stars of Gastronomy cements its place as Asia’s leading dining destination, and home to some of the region’s most awarded restaurants, chefs and culinary experiences, all under one roof., under one roof.

The city’s most elevated sensory gastronomy festival takes place across three sittings from Friday 20 November, to Saturday 21 November, spanning two dazzling nights and one thrilling day-time session. Following the standout success of the festival’s first three years at Galaxy Macau, this cornerstone event during Macau Grand Prix weekend has cemented the city’s undisputed status as a UNESCO City of Gastronomy and the home of Formula 3 racing on the global stage.

Galaxy Stars of Gastronomy celebrates the elemental exchange of cultures, craftsmanship and creativity through a series of extraordinary dining experiences curated exclusively for Galaxy Macau. Tickets from MOP1,988 per person (min. 2 persons) are now on sale at www.galaxymacau.com with an incredible 20% early bird discount offer which includes a complimentary free-flow wine package, on or before 4 October, while tickets last.

Drawing inspiration from the nourishing philosophy of the Five Elements, Galaxy Stars of Gastronomy 2026 invites Asia’s top chefs to interpret Metal, Wood, Water, Fire and Earth through their own creative culinary lens. Set against a vibrant al fresco backdrop of live performances at the Cabana, guests will be immersed in a celebration of flavour, creativity and craftsmanship led by Asia’s foremost culinary masters.

An All-Star Line-up of Culinary Visionaries

Working in small groups, 12 talented masters will showcase their distinct culinary philosophies through diverse ingredients and techniques, transforming nature’s bounty into dishes inspired by the Five Elements. Guests will enjoy an up-close and personal opportunity to engage with Asia’s leading celebrity chefs, as each dish is meticulously prepared in front of them.

Gathered at Galaxy Macau will be a standout, award-winning team of Asia’s elite culinary talents, representing the pinnacle of excellence region-wide:

• Chef Julien Royer: Three-Michelin-Starred Odette, Singapore
• Chef Jimmy Lim: Three-Michelin-Starred JL Studio, Taichung
• Chef Darren Teoh: Two-Michelin-Starred Dewakan, Kuala Lumpur
• Chef Hiroyasu Kawate: Two-Michelin-Starred Florilège, Tokyo
• Chef Vianney Massot​: Two-Michelin-Starred BLACKSWAN, Beijing
• Chef Eom Taejun: One-Michelin-Starred Solbam, Seoul

Galaxy Macau and StarWorld Hotel’s elite culinary team is set to include:

• Chef Masaaki Miyakawa, Three-Michelin-Starred Sushi Miyakawa & One-Michelin-Starred Sushi Kissho by Miyakawa
• Chef Umberto Bombana: Three-Michelin-Starred 8½ Otto e Mezzo BOMBANAHong Kong& One-Michelin-Starred 8½ Otto e Mezzo BOMBANA Macau
• Chef Xu Jingye: Two-Michelin-Starred 102 House, Shanghai & House of Origin at Galaxy Macau
• Chef Vicky Cheng: One-Michelin-Starred VEA Hong Kong, and Estuary by Vicky Cheng
• Chef Chan Chek Keong: Two-Michelin-Starred Feng Wei Ju at StarWorld Hotel
• Chef Yam Lok Hin, Assistant Vice President and Chef Creator – Pastry and Bakery, Galaxy Macau, StarWorld Hotel and Broadway Macau

Exceptional Pairings Beyond the Plate

Building on Galaxy Macau’s reputation as a bars innovator, the event brings together some of Asia’s most respected names in cutting-edge mixology.

Leading the line-up is Andrew Ho of Guangzhou’s Hope & Sesame, recognised as “Asia’s Best Bar” this year by Asia’s 50 Best Bars; alongside Shelley Tai, founder-mixologist of Hong Kong’s celebrated Mius, ranked No. 36 on this year’s list and recipient of the “Altos Bartenders’ Bartender Award” at Asia’s 50 Best Bars 2026. Representing Galaxy Macau is award-winning mixology innovator Nokoy Mak, Bar Manager at Long Bar, Raffles at Galaxy Macau and “Tatler Best 20 Bars 2026” in Macau.

Together, they will present an innovative collection of cocktails and non-alcoholic creations designed to complement the event’s culinary offerings with thrilling pairings.

A Culinary Journey Inspired by the Five Elements

With the elite assembly of 15 of Asia-Pacific’s most celebrated culinary and mixology masters, Galaxy Stars of Gastronomy 2026 presents a unique exchange of knowledge and skills. Guided by the Five Elements, each chef curates with their own distinctive approach, creating an immersive dining experience that reflects the diversity and dynamism of the region’s gastronomic landscape.

Each element embodies a distinctive flavour expression: Wood celebrates freshness and vitality; Metal highlights precision and purity; Water explores depth, texture and umami; Fire showcases transformation through grilling, roasting and seasoning; while Earth brings richness and grounding through nutty, root-driven and comforting flavours.

From 20-21 November, 2026, Galaxy Macau cements its place one of Asia’s most compelling dining destinations, offering a wide array of pristine dining options from Michelin-starred restaurants and celebrated chefs to acclaimed local delicacies. Galaxy Stars of Gastronomy 2026 further reinforces this constellation of inspirational dining, offering guests a thrilling one-stop experience of Asia’s most acclaimed culinary artists – all within one destination, for one weekend only.

For more information about Galaxy Macau and Galaxy Stars of Gastronomy 2026, please visit www.galaxymacau.com.

Galaxy Stars of Gastronomy 2026

Hashtag: #GalaxyMacau

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GALAXY MACAU INTEGRATED RESORT

Galaxy Macau, world-class luxury integrated resort, delivers the “Most Spectacular Entertainment and Leisure Destination in the World”. Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Nine award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau, Andaz Macau, and Capella at Galaxy Macau. Unique to Galaxy Macau, the 75,000-square-meter Grand Resort Deck features the world’s longest Skytop Adventure Rapids at 575 metres, the largest Skytop Wave Pool with waves up to 1.5-metre high and 150-metre pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz- Carlton Spa, Macau help guests relax and rejuvenate.

As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meter, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theatres are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind deluxe lounge that evokes the glitz and glamor of Shanghai’s golden era with entertainment in luxury and style; and Foot Hub presents the traditional art of reflexology to make you feel more relaxed and revitalized. For Authentic Macau Flavours & Vibrant Asian Experiences, Broadway Macau – just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at its Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also well looked after with a portfolio of unique venues in Galaxy Macau and a professional service staff.

Galaxy International Convention Center (GICC) is the latest addition to the Group’s ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world- class event venue featuring 40,000-square-meter of total flexible MICE, and a 16,000-seat Galaxy Arena – the largest indoor arena in Macau.

For more details, please visit www.galaxymacau.com, www.broadwaymacau.com.mo and www.galaxyicc.com.

The BG-5 Golden Dragon Fish was demonstrated at the 2026 China International Fair for Trade in Services, held at Shougang Park from September 9 to 13. Developed by Boyagongdao Marine Technology Group, the robot is designed to resemble a golden arowana and propel itself through water with a flexible, multi-joint tail rather than a conventional propeller.

The machine can detect obstacles and adjust its route autonomously instead of following only a fixed, pre-programmed path, according to information released by the developer and statements made at the exhibition. Its fish-like movement is intended to improve manoeuvrability while giving the platform a less conspicuous profile than many conventional underwater vehicles.

Boyagongdao lists the BG-5 as a 640-millimetre-long robot weighing about 3 kilograms. The published specifications give it a maximum operating depth of 5 metres and a top speed of 0.6 metres per second. The company says infrared recognition supports autonomous obstacle avoidance, while wireless communications allow online debugging and control.

The manufacturer also offers a BG-5V configuration that combines the robotic fish with a software platform for more advanced experiments. The listed capabilities include global and local path planning, task allocation, formation control, cooperative transport and coordinated operations involving multiple robots.

Those functions broaden the possible uses beyond a single demonstration unit. Groups of small robotic fish could, in principle, divide an underwater area for inspection or monitoring, maintain formations and coordinate tasks in locations where larger vehicles would be harder to deploy. The company presents the platform for research and teaching as well as operational fields including search and salvage, hydropower, safety and rescue and national defence.

Claims that the robot has been formally deployed as an underwater surveillance system have not been substantiated by publicly available official information. The specifications and the developer’s stated defence-related work show that reconnaissance or monitoring applications are technically plausible, but the model displayed at CIFTIS was presented as a biomimetic robotic platform rather than as an announced military deployment.

Boyagongdao says its bionic robot series draws on more than a decade of research associated with Peking University’s College of Engineering. The systems use high-speed biomimetic drive mechanisms and central pattern generator control algorithms intended to reproduce the smooth, rhythmic movement of aquatic animals.

The company has also disclosed work on defence-oriented underwater technology. Its website says technologies developed for military-related directions have been adapted for higher education products, and company material from earlier exhibitions describes unmanned and intelligent underwater equipment as an area of military development. It has separately publicised the ROBO-SHARK, a larger shark-inspired underwater robot developed with a military unit.

The BG-5 itself is not a newly created model. Boyagongdao had displayed the robotic fish before this month’s services trade fair and promoted it earlier this year at Beijing technology events. The latest CIFTIS appearance nevertheless drew renewed attention because of the machine’s autonomous obstacle avoidance and increasingly realistic biomimetic movement.

China’s work on underwater robotics extends well beyond fish-shaped machines. Universities, research institutes and commercial groups are developing autonomous systems for coral monitoring, infrastructure inspection, marine ranching, emergency rescue and deep-sea research. Some platforms are designed to carry cameras, sonar or environmental sensors, while others use robotic arms for intervention tasks.

A separate ecological-monitoring deployment in Hangzhou has used biomimetic robotic fish to patrol West Lake, measuring indicators including water temperature and pH, detecting invasive species and transmitting data to monitoring centres. Other Chinese underwater robots have been used for reef observation and for identifying and removing crown-of-thorns starfish.

The BG-5 demonstration at CIFTIS focused on embodied intelligence underwater, where navigation software, sensing and propulsion are integrated into a machine that moves more like a living animal than a standard remotely operated vehicle.

DCWA is part of Tech Week Singapore and serves as a key platform for data centre operators, technology providers, and industry stakeholders to exchange insights and explore emerging technologies shaping the future of digital infrastructure.

As demand for digital infrastructure continues to grow, data centre operators face increasing pressure to maintain reliable operations while improving energy efficiency. Azbil applies its expertise in measurement, control, and automation to help optimize building and cooling-system operations in mission-critical environments.

At DCWA, Azbil will highlight its Building Automation solutions and specialized services for mission-critical environments, including an intelligent building management system and the chiller plant digital twin. These solutions leverage advanced technologies to improve energy efficiency, support informed decision-making, and enhance the reliability and resilience of critical infrastructure operations.

Guided by its Purpose, “Expanding Technological Frontiers, Unlocking Human Potential,” Azbil will continue to create new value through its advanced measurement, control, and automation technologies and through co-creation with customers and partners, contributing to more reliable, efficient, and sustainable digital infrastructure.

Event Overview

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About Azbil Corporation

Azbil Corporation, formerly known as Yamatake Corporation, is a leading company in building and industrial automation, using its measurement and control technologies to provide customers with high value-added solutions to make their operations more efficient and sustainable. Founded in 1906, the Azbil Group consists of 30 companies and operates in 16 countries, providing cutting-edge solutions and services to meet the diverse needs of its global customers. As of March 31, 2026, Azbil employed about 9,000 people worldwide and generated JPY 298.9 billion in revenue. To learn more about Azbil Corporation and its solutions, please visit Azbil’s website at https://www.azbil.com.

The emblem, “Jing Yue”, centred on the Temple of Heaven and the Chinese character “京” (Jing), draws on the expressive charm of Chinese calligraphy, engraves Beijing’s local identity, and radiates the vibrant energy of athletics.

The mascot, “Jing Yan”, draws inspiration from “Yan’er”, the mascot of the 2015 edition of the Championships. Modelled after the Beijing swift, it symbolises “the return of the swift after 12 years”. The design subtly incorporates traditional Chinese kite patterns and the expressive eye makeup of Peking Opera, while a lightning-bolt dynamic adds a sense of speed. This seamlessly blends natural vitality, culture, art, and athletic competition. It not only nods to the 2015 edition of the Championships, but also brings Beijing’s rich cultural heritage vividly to life.

The theme slogan “Every Step Counts” embodies the relentless competitive spirit that every step and every effort matters. It sends a warm yet resolute message to the world: on the road to excellence, every wholehearted effort holds extraordinary value.

In his video address, President of World Athletics Sebastian Coe noted that Beijing is the first city in the world to have successfully hosted both the Summer and Winter Olympics, with a remarkable record of staging world-class events. He said the World Championships Beijing 2015 produced many iconic moments, and that World Athletics firmly believes China will stage the 2027 edition of the Championships to the highest possible standard and deliver an unforgettable sporting spectacular for audiences across the globe.

The World Athletics Championships Beijing 27 will be held at the National Stadium from 10 to 19 September 2027. More than 2,000 athletes from over 200 countries and regions will gather at the Bird’s Nest for this grand athletics celebration.
Hashtag: #WCHBeijing27 #EveryStepCounts

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The move comes as the National Payments Corporation of India develops protocols for identifying and authorising AI agents on the Unified Payments Interface, creating infrastructure that could let software complete selected payments under rules and limits set by customers.

Super. money founder and chief executive Prakash Sikaria has said the emerging architecture could allow agents representing merchants and consumers to interact directly, reducing the number of steps between product discovery and payment. The company is seeking to use that shift to extend its role beyond routine UPI transfers into commerce, credit and investment-related transactions.

Agentic payments differ from conventional chatbots because the software can act after interpreting an instruction rather than merely provide information. A user could, for example, ask an agent to find an eligible product within a budget or execute a purchase when specified conditions are met, subject to the permissions built into the payment framework.

NPCI is working on a registry to verify and monitor AI agents conducting transactions through UPI. Its proposed Unified Agent Protocol is expected to support controls including spending limits, identity checks and audit trails. The initial focus is on small, frequent purchases, while more complex conditional transactions could follow as safeguards and liability rules develop.

The payments body has already extended UPI Circle, its delegated-payments framework, to software profiles including AI profiles for limited users. Under the broader system, account holders can delegate payment authority within predefined limits while retaining visibility over transactions. Reserve Pay, another UPI mechanism, can block funds for authorised payments that may be debited later.

Super. money’s push builds on products added this year as it tries to broaden engagement beyond person-to-person and merchant payments. Its splitStore service, introduced in July, lets eligible customers browse products listed on Flipkart and either pay in full or use a pay-later facility provided by regulated lending partners.

The company’s terms state that Flipkart and its sellers remain responsible for the underlying sale, fulfilment, invoicing, cancellations and returns, while Super. money provides the shopping and credit interface. The platform does not hold inventory or set product prices.

Super. money has also added digital gold. Its customer-support documentation describes purchases, sales and reconciliation procedures involving a vault partner, while the app has promoted cashback on gold purchases. The service includes a post-purchase selling lock-in and applies the tax and market spread associated with digital-gold transactions.

Those products give the company potential use cases for agents that can move from a customer instruction to a transaction without requiring the user to navigate several separate screens. The central challenge is ensuring that delegated authority remains narrow enough to prevent unwanted or mistaken purchases.

That concern is shaping the wider industry’s approach. Razorpay, NPCI and OpenAI have been testing agentic payments using UPI Reserve Pay, with an earlier pilot allowing users to shop through a conversational AI interface and complete purchases from participating merchants after confirmation. Razorpay says its system is designed to support pre-authorised transactions within customer-approved spending limits.

Competition is intensifying as payments companies decide how extensively to integrate AI. PhonePe co-founder Rahul Chari has cautioned that not every existing payments experience becomes better merely by adding artificial intelligence, signalling a more selective approach than platforms seeking to make autonomous agents central to commerce.

Super. money remains smaller than the dominant UPI applications, giving it an incentive to pursue newer transaction categories rather than compete solely on basic payments. Its app combines UPI with credit, deposits, bill payments, shopping and other financial products, while the company has used cashback and embedded credit to encourage repeat usage.

Student Flag-guard Team debuts new signature uniforms, embodying vigour and a sense of mission

HONG KONG SAR – Media OutReach Newswire – 7 September 2026 – The Chinese University of Hong Kong (CUHK) today (7 September) commenced the 2026/27 academic year with a solemn Flag-raising Ceremony this morning, with the CUHK Flag-guard Team, clad in student-designed new uniforms, conducting the ceremony – demonstrating vigour and a sense of mission. The national flag, the Hong Kong Special Administrative Region flag and the CUHK flag were solemnly raised to the national anthem, marking the start of the new academic year.

It was followed by the Inauguration Ceremony for Undergraduates 2026. The events come at a landmark moment for the University, following its recent rise to 18th place in the QS World University Rankings and the official launch of its new strategic plan, CUHK 2026–2030: Leaping to Greatness.

The Flag-raising and Flag-guard Team Recognition Ceremonies

The Flag-raising Ceremony was attended by more than 130 guests, including the Hon Alice Mak Mei-kuen, Secretary for Home and Youth Affairs of the HKSAR Government, Ms Wan Ning, Deputy Director-General of the Department of Education and Youth Affairs of the Liaison Office of the Central People’s Government in the HKSAR, Professor Hon Jasper Tsang Yok-sing, Honorary Professor in CUHK’s Faculty of Social Science, Dr Norman Chan Tak-lam, Vice-Chairman of the CUHK Council, Professor Dennis Lo Yuk-ming, CUHK Vice-Chancellor and President, alongside Legislative Council members, members of the University Council, senior management, representatives of Colleges and Faculties, staff, students and alumni.

Following the Flag-raising Ceremony, the University held the Recognition Ceremony for the CUHK Flag-guard Team. Miss Mak, Dr Chan and Professor Lo presented 18 Appointment Certificates and 5 Certificates of Appreciation respectively. In addition, a student received the “Best CUHK Flag-guard Team Member Award 2025-2026” in recognition of her outstanding performance and dedication to the team.

Three awards for the Flag-guard Team Uniform Design Competition were also presented. The final design of the new uniforms was developed from the winning concepts of the champion students and further refined with valuable input from Professor Lo. Featuring CUHK’s signature purple and gold – representing devotion and loyalty, and perseverance and resolution, respectively. The new uniforms reflect the team’s professionalism and vibrant spirit, while embodying the youth’s loyalty and commitment to the nation, Hong Kong and the University, as well as their steadfast dedication to promoting patriotic values.

Navigating the AI era through virtue and ethics

At the Inauguration Ceremony for Undergraduates 2026 held at Sir Run Run Shaw Hall, Professor Lo welcomed the incoming cohort, encouraging them to regard CUHK as their second home for intellectual and personal growth.

Addressing how students could navigate the artificial intelligence (AI) era, Professor Lo emphasised the importance of developing both technical capabilities and sound moral judgement. He encouraged students to use AI responsibly, with honesty, independent judgement and respect for others. He noted that, as routine tasks became increasingly automated, human strengths such as empathy, critical reasoning and moral judgement would become even more important, highlighting why the University motto, “Through Learning and Temperance to Virtue”, was more relevant today than ever.

Professor Lo added that a journey at CUHK would open up opportunities for students to become responsible global citizens, “Social responsibility begins with an awareness that our actions and attitudes can make a difference. As an ancient Chinese saying goes, ‘A journey of a thousand miles begins with a single step’ (「千里之行，始於足下」). The idea of changing the world may seem daunting. Yet social responsibility often starts with small, everyday actions on campus and in the local community: volunteering, supporting community initiatives, embracing sustainability or extending kindness to those around us. Meaningful change is built one step at a time: start locally while thinking globally, using knowledge and talent to contribute to the common good.”

Professor Lo invited students to actively participate in the journey of shaping CUHK’s future trajectory, adding that their curiosity, integrity, fresh ideas and willingness to contribute would play a vital role in the University’s development.

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HONG KONG SAR – Media OutReach Newswire – 7 September 2026 – HUAFULI, a high-end decorative panel brand under the Shanghai Stock Exchange main board listed company “Dongguan Huali Industries Co., Ltd.” (Stock Code: 603038.SH), has leveraged its 30 years of brand heritage and formidable R&D and supply chain strength to achieve a rapid growth of over 50% against recent market downturns! Backed by a robust brand history, HUAFULI served as a supporting furniture materials supplier for top-tier international events, including the 2008 Beijing Olympics, the 2010 Guangzhou Asian Games, and the 2011 Shenzhen Summer Universiade, earning national-level recognition for its quality.

HUAFULI today officially announced its full-scale entry into the Hong Kong market, establishing its presence in the heart of Lockhart Road, Wan Chai—renowned as “Hong Kong’s Building Materials Street.” A grand opening ceremony was held for its brand-new 2,800 sq. ft. flagship exhibition hall, the “HUAFULI Hong Kong Home Art Gallery”. The brand offers an Integrated Door-Wall-Cabinet solution and localized services, using Hong Kong as a strategic pivot to expand into the global market!

The ceremony, themed “Huafuli: A New Chapter in Hong Kong”, was officiated by management representatives, including Mr. Jacky Tan Xujie, Vice Chairman of Dongguan Huali Industries Co., Ltd., Mr. Xie Zhikun, CEO and Co-founder of Dongguan Huali Industries Co., Ltd., Mr. Lu Xuqiu, Co-founder of Dongguan Huali Industries Co., Ltd., Mr. Wang Tangxin, Co-founder of Dongguan Huali Industries Co., Ltd., Mr. Ji Juntao, Vice President of Dongguan Huali Industries Co., Ltd., and Mr. Ken So, Sales Manager of the Hong Kong Region, Huafuli. The event also featured a heavyweight guest, three-time TV King, renowned artist, and Brand Spokesperson Mr. Wayne Lai, who attended the ribbon-cutting and conducted a live contract signing ceremony, witnessing this significant milestone in HUAFULI’s development in Hong Kong.

30 Years of Dedication: From Single-Product Champion to System Service Provider; Executive President Xie Zhikun Reveals Deep “Hong Kong Ties”

Founded in 1995, Huali Shares was listed on the SSE main board in 2017. In its early years, the brand took the lead in breaking foreign technological monopolies, spearheading the formulation of China’s furniture edge banding industry standards, and achieving the highest national sales for ten consecutive years. Over 30 years of development, the brand has successfully upgraded from an edge banding sales champion to a whole-house system service provider encompassing decorative panels, edge banding, and home hardware. Amid the transformative challenges faced by the home building materials industry in recent years, HUAFULI has defied market trends with a robust growth of over 50%, demonstrating remarkable business resilience and market leadership.

During his opening speech, Mr. Xie Zhikun, CEO and Co-founder of Dongguan Huali Industries Co., Ltd., shared emotionally: “Thirty years ago, we started with a single edge banding strip, proactively formulating the industry standards for furniture edge banding in China and maintaining the number one sales position nationwide for thirty consecutive years. With this dedication, we successfully upgraded from a ‘single-product champion’ to a complete system covering decorative panels, edge banding, and home hardware. Even when the industry faced challenges recently, HUAFULI still achieved a 50% growth against the trend. In fact, our connection with Hong Kong began back in 2008 when we established a subsidiary here. Hong Kong people are extremely particular about home quality, placing special emphasis on eco-friendliness, moisture resistance, and health, which are precisely HUAFULI’s strengths. The ‘HUAFULI Hong Kong Home Art Gallery’ unveiled today is not just an ordinary showroom, but a home art gallery that offers peace of mind and lifestyle aesthetics. In the future, we will collaborate with all sectors in Hong Kong using solid products, a professional team, and localized services, opening a new chapter where quality and craftsmanship parallel each other—basing ourselves in Hong Kong, connecting with the Mainland, and radiating globally!”

Mr. Ken So, Sales Manager of the Hong Kong Region, Huafuli, Addresses Three Industry Pain Points, Eliminates Northbound Travel Hassles, and Sets a HK$100 Million Sales Target

In an exclusive media interview, Mr. Ken So, Sales Manager of the Hong Kong Region, Huafuli, deeply analyzed the business logic and localized strategy behind the brand’s entry into Hong Kong:

• Eliminating Cross-border Travel Fatigue to Significantly Boost Deal Success Rates: Mr. So pointed out that local interior designers and homeowners were often limited to brochure samples or had to endure tiring trips to Mainland factories to view actual materials. “We established ourselves directly in the core area of Lockhart Road, Wan Chai, building a 2,800 sq. ft. high-spec exhibition hall. Designers can now bring clients at any time to view 1:1 physical large panels and finished door-wall-cabinet displays. The art gallery does not retail directly to homeowners but serves as a shared design base for Hong Kong designers and contractors, addressing eco-concerns on the spot and significantly improving local designers’ deal success rates.”
• Insisting on a 100% Direct-Sale Model with Unified National Pricing—”Not a Cent Added”: Differentiating from traditional building material brands that rely on multi-tiered agents, Mr. So emphasized HUAFULI’s commitment to a direct-sale system: “Whether in the Mainland or Hong Kong, HUAFULI is directly operated by the group, ensuring high consistency in product quality, after-sales service, and pricing. Although we have set up a top-tier showroom in the prime location of Wan Chai and hired a star spokesperson, the panel prices remain unified nationally with the Mainland—’not a cent added’—truly yielding benefits to local partners with sincerity.”
• Eco-friendly Panels Replacing Traditional Laminates; Setting a HK$100 Million Sales Target: Mr. So analyzed that eco-friendly decorative panels are in a golden growth period in Hong Kong, gradually replacing traditional fireproof laminates and veneers. “We see massive market potential, and HUAFULI has set a target of achieving HK$100 million in sales in Hong Kong within 3 to 5 years! The Hong Kong market is strict and aligned with international standards. We are using Hong Kong as a touchstone and strategic hub for adapting to global standards, and will further expand into more overseas markets in the future.”
• Strong Supply Chain Backing to Achieve “Zero Minimum Order, Next-Day Delivery” Express Fulfillment: Relying on six major production bases in the Mainland (totaling 600,000 square meters) and a network of 14 branch warehouses, HUAFULI breaks the traditional months-long waiting period for imported building materials. It provides the local industry with a localized, one-stop delivery service characterized by “zero minimum order, zero inventory requirements, same-day response, and next-day delivery,” greatly alleviating the financial and warehousing pressures on local partners.

Global Debut of German-Japanese Nano-Microcrystalline EBH Technology; Dual Ultimate Eco-certifications Lead New Trends in HK Building Materials

With Hong Kong’s increasingly stringent requirements for green buildings, indoor air quality, and ESG standards, HUAFULI brings a high-specification product system suitable for the Hong Kong environment:

• Hong Kong Debut of the German-Japanese EBH Series: Combining German plasma spraying and Japanese precision light-curing technologies, this series boasts top-tier performance across six dimensions: anti-fingerprint (90% reduction), scratch resistance (2H+ hardness), anti-mildew and antibacterial (99.5%+), and yellowing resistance. Its surface presents an advanced, luxurious 5° matte gloss, perfectly adapting to Hong Kong’s humid climate.
• Dual Highest Eco-certifications: “ENF Grade + JIS JAS F4-star”: Showcasing top-tier eco-friendly panels (including Particle Board, Multi-layer Plywood, and Oriented Strand Board, etc.) that have comprehensively passed the dual certifications of the national highest environmental standard “ENF Grade” (formaldehyde emission ≤0.025 mg/m³) and Japan’s highest environmental standard “F☆☆☆☆ (F4-Star).”
• Recognized by the “Hong Kong ECO Mark”: The products have obtained the Hong Kong Green Label Scheme certification, achieving extremely low TVOC and formaldehyde emissions from the source. This directly addresses the pain points of Hong Kong’s indoor air quality and aligns with the high standards for ESG inspection by developers.
• Patented Laser Edge Banding 2.0 and colour matched door-wall-cabinet system: The entire series comes standard with the original factory’s seamless laser edge banding technology, achieving panel edge banding in-one. HUAFULI particularly advocates the “Integrated Door-Wall-Cabinet” concept, where interior doors, wall panels, and custom cabinets are all made from the same original factory batch of substrates with identical colors and textures. This achieves zero color difference and a highly unified whole-house aesthetics with perfectly extended textures, providing unparalleled one-stop quality solutions when paired with original factory moldings and hardware components.

Star Spokesperson Mr. Wayne Lai Yiu Cheung Attends the Event, Heavily Endorses Dual Ultimate Eco-friendliness at Contract Signing

The atmosphere at the grand opening ceremony was vibrant, with traditional auspicious lion eye-dotting and lion dance performances kicking off the splendid prologue for the “HUAFULI Hong Kong Home Art Gallery.” Brand Spokesperson Mr. Wayne Lai Yiu Cheung conducted a grand contract signing ceremony on site and joined management guests for a celebratory group toast and photo.

Hashtag: #HUAFULI

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

About HUAFULI

Founded in 1995, Huali Shares was listed on the main board of the Shanghai Stock Exchange in 2017 (Stock Code: 603038.SH). Starting from the field of decorative composite materials, the company has adhered to integrity and innovation, inherited the spirit of craftsmanship, and over the past 30 years, has developed into a comprehensive holding enterprise encompassing home building materials, smart water affairs, membrane filtration materials, and industrial digital intelligence businesses. It is committed to leading industry progress through high-level R&D, satisfying people’s aspirations for a better life through technological innovation, and empowering industrial upgrades through digital and intelligent technologies. Its home building materials business primarily focuses on edge banding, decorative panels, and home hardware, mainly used in panel furniture, interior decoration, and commercial space construction. It is the first domestic home materials manufacturing enterprise to break the German technological monopoly and possess independent intellectual property rights, and is the leading formulator of important industry standards for edge banding in China.

Forest City SFZ sets out who may qualify for its 5% special corporate tax rate, how the separate Malaysia Digital tax incentive works, and which activities and conditions apply to each scheme.

JOHOR, MALAYSIA – Media OutReach Newswire – 29 August 2026 – Forest City has, over the past decade, built a recognised track record in green-building and sustainability credentials. Since the Malaysian Government announced the Forest City Special Financial Zone (“SFZ”) incentive package on 20 September 2024, the development has added a financial-services and digital-economy dimension. The Forest City Special Financial Zone (“FC-SFZ”) Tax Incentive offers a 5% special corporate tax rate for 10 consecutive years of assessment, extendable for a second 10-year period, to eligible companies undertaking qualifying fintech, Financial Global Business Services (“FGBS”) or Foreign Payment System Operator (“FPSO”) activities in Pulau 1, Forest City. Malaysia Digital Economy Corporation (“MDEC”) is the appointed government agency to process applications, which are assessed by the National Committee on Investment (“NCI”).

The FC-SFZ Tax Incentive is separate from Malaysia Digital (“MD”) Status and the MD Tax Incentive. A company does not need MD Status to qualify for the FC-SFZ Tax Incentive. Under MDEC’s current rules, an FC-SFZ applicant must also not have been granted another tax incentive for the same qualifying activity. Eligible MD Status companies may separately apply for the MD Tax Incentive, subject to the applicable criteria and approval process.

Key Incentives at a Glance

Forest City’s first decade was defined in part by its green-building and sustainability record. Forest City reports nearly 40 international awards and certifications as at August 2026, including LEED for Core and Shell (“LEED-CS”) Gold pre-certification and GreenRE Gold ratings. On 20 September 2024, the Malaysian Government announced the Forest City SFZ incentive package, adding a financial-services and digital-economy dimension to the development.

The current incentive landscape has four main components:

• Forest City SFZ corporate tax rate: Eligible companies undertaking qualifying fintech, FGBS or FPSO activities in Pulau 1 may receive a 5% special corporate tax rate for 10 consecutive years of assessment, extendable for a second 10-year period, subject to approval and continued compliance. The qualifying activity must use at least one promoted technology enabler specified by MDEC.
• Single Family Office (“SFO”) Scheme: A qualifying Single Family Office Vehicle (“SFOV”) may receive a 0% tax rate on chargeable income from its qualifying holding and investment activities for an initial 10 years, with a possible extension for a further 10 years, subject to the Securities Commission Malaysia (“SC”) requirements.
• Knowledge workers: Eligible knowledge workers working within the Johor-Singapore Special Economic Zone (“JS-SEZ”), which includes Forest City as a designated flagship area, may qualify for a special 15% personal income tax rate for 10 years, subject to the applicable conditions.
• Malaysia Digital tax incentive: This is a separate national incentive administered by MDEC. For New Investment, eligible companies may choose between a reduced tax rate — 0% on qualifying intellectual-property (“IP”) income, subject to the modified nexus approach, and 5% or 10% on qualifying non-IP income for up to 10 years — or an Investment Tax Allowance (“ITA”) of 60% or 100% of qualifying capital expenditure for up to five years. Different rates apply to the Expansion Incentive. Applications are open until 31 December 2027.

Taken together, these measures position Forest City SFZ as a potential regional base for qualifying financial-services and technology-enabled businesses assessing Malaysia’s tax framework, proximity to Singapore and access to ASEAN markets. However, the schemes are separate and should not be treated as automatically cumulative.

Forest City Tax Framework for Fintech and Technology-Enabled Financial Services

The FC-SFZ Tax Incentive is not a blanket 100% tax exemption for fintech, AI or technology companies. It is a 5% special corporate tax rate for qualifying activities under the FC-SFZ framework. MDEC is the appointed agency to process applications, while applications are assessed by the NCI.

The 5% rate applies to qualifying fintech activities, FGBS and FPSO activities carried out in Pulau 1, Forest City. The qualifying activity must utilise at least one promoted technology enabler: artificial intelligence (“AI”) or big data analytics (“BDA”); Internet of Things (“IoT”); cybersecurity; cloud; blockchain; creative media technology, including extended reality (“XR”) or mixed reality (“MR”); robotics or automation; or advanced network connectivity or telecommunications technology. Eligibility is not automatic based on location alone; companies must also satisfy the applicable corporate, activity, substance, regulatory and compliance conditions.

The “up to 100%” figure sometimes cited in relation to Malaysia Digital refers to the ITA available under the MD New Investment Incentive. It is an allowance on qualifying capital expenditure, not a 100% income tax holiday. The MD Tax Incentive is also separate from the FC-SFZ Tax Incentive and should not be assumed to stack with it for the same qualifying activity.

Comparison table:

For accurate and current policy information, companies should refer directly to official sources, including:

• MDEC — Forest City Special Financial Zone (FC-SFZ) Tax Incentive FAQ and application guidance
• MDEC — Malaysia Digital Tax Incentive FAQ and MD Status guidelines
• Securities Commission Malaysia — Single Family Office Incentive Scheme and gazetted tax rules
• Ministry of Finance / MRT Corp — JS-SEZ incentive package and Johor Bahru-Singapore RTS Link information

Malaysia Digital Status and Tax Incentive: A Separate National Framework

MD Status is granted nationally by MDEC. An MD Status company may then be eligible to apply separately for the MD Tax Incentive, subject to the relevant criteria. Under MDEC’s current framework, qualifying Malaysia Digital Activities comprise the research, development or commercialisation of solutions, or the provision of services, using promoted technology enablers such as AI or BDA, IoT, cybersecurity, cloud, blockchain, drone technology, creative media technology, integrated-circuit design with embedded software, robotics or automation, and advanced network connectivity or telecommunications technology.

Under the current MD Tax Incentive, the available options differ between New Investment and Expansion:

• New Investment: A 0% reduced tax rate on qualifying IP income, subject to the modified nexus approach, and a 5% or 10% reduced tax rate on qualifying non-IP income, for up to 10 years; or an ITA of 60% or 100% of qualifying capital expenditure against up to 100% of statutory income, for up to five years.
• Expansion: A 15% reduced tax rate on qualifying IP income, subject to the modified nexus approach, and non-IP income, for up to five years; or an ITA of 30% or 60% of qualifying capital expenditure against up to 100% of statutory income, for up to five years.

The “100%” figure therefore refers to the ITA rate under the New Investment Incentive. It does not mean that all company income is tax-free.

The MD Tax Incentive is open for applications until 31 December 2027. A company must first obtain MD Status before submitting an application for the MD Tax Incentive.

MD Status also provides access to non-tax benefits under the MD Bill of Guarantees, including the ability to apply for foreign knowledge-worker quotas and passes, subject to the relevant immigration requirements. MDEC’s Expats Service Centre administers the related Foreign Knowledge Worker processes for eligible companies.

Eligibility Summary: Entities, Sectors and Permitted Activities

Forest City SFZ 5% rate

• Activity-based: Qualifying services are limited to fintech-related activities, FGBS and FPSO activities.
• Technology condition: The qualifying activity must utilise at least one promoted technology enabler specified by MDEC, including AI or BDA, IoT, cybersecurity, cloud, blockchain, creative media technology, robotics or automation, or advanced network connectivity or telecommunications technology.
• Location condition: The qualifying activity must be carried out in Pulau 1, Forest City.
• Substance and compliance conditions: Approved companies must meet the conditions set out in their approval letter, including commitments relating to full-time employees, knowledge workers, annual operating expenditure, ESG requirements, relevant regulatory approvals or licences, and annual compliance reporting verified by an independent auditor.

Malaysia Digital (MD) Status and MD Tax Incentive

• Activity-based: MD eligibility is tied to Malaysia Digital Activities that use the promoted technology enablers specified by MDEC. Merely operating an AI, cloud, fintech or digital business does not automatically confer tax-incentive eligibility.
• Status and tax-incentive process: MD Status is granted by MDEC. The MD Tax Incentive is a separate application available to eligible MD or MSC Malaysia Status companies, depending on the relevant incentive category.
• Geographic scope: MD Status is a national programme and does not require a company to be located in Forest City.
• No automatic stacking: MDEC states that an FC-SFZ Tax Incentive applicant must not already have been granted a tax incentive for the same qualifying activity. MDEC also confirms that MD Status is not required to apply for the FC-SFZ Tax Incentive.

Accordingly, companies should assess the FC-SFZ and MD frameworks separately. Any proposed structure involving different activities, income streams or incentive programmes should be verified with MDEC and qualified tax advisers before any combined tax outcome is assumed.

Strategic Rationale: Proximity, Talent Incentives and Regional Access

Forest City’s location proposition is based on three interlocking factors: proximity to Singapore, targeted talent incentives and early investor interest.

• Proximity as operational leverage: Forest City lies approximately 2 km from Singapore at its nearest point, placing qualifying operations close to one of Asia’s major financial and technology hubs. The Johor Bahru-Singapore RTS Link will connect Bukit Chagar in central Johor Bahru with Woodlands North in Singapore. MRT Corp has stated that service is targeted to commence on 31 December 2026. The RTS Link does not serve Forest City directly, so onward road transport between Forest City and central Johor Bahru will still be required.
• Talent as a bundled enabler: Eligible knowledge workers in the JS-SEZ may qualify for a special 15% personal income tax rate for 10 years, while eligible MD Status companies may apply for foreign knowledge-worker quotas and passes through MDEC’s expatriate facilitation framework. These are separate benefits with their own eligibility and approval requirements.

By June 2026, Invest Johor reported that the Forest City SFZ had recorded 260 cumulative investor enquiries through the Invest Malaysia Facilitation Centre-Johor, against an RM2 billion investment target. Separately, the SC reported in October 2025 that six families had received conditional approval under the SFO Incentive Scheme, with indicative assets under management close to RM400 million.

This incentive framework sits alongside Johor’s rapid emergence as a major Malaysian data-centre market. JLL has highlighted strong data-centre expansion in Johor and the wider JS-SEZ, supported by major hyperscale investments and infrastructure development. This broader digital-economy momentum strengthens the regional technology narrative, but it should not be presented as a direct operating benefit or guaranteed outcome for individual Forest City SFZ companies.

Decision Framework: Two Pathways and a Diligence Caveat

The incentive structure is best assessed through two distinct pathways, with a separate due-diligence lens for investors and advisers.

• Pathway A – FC-SFZ presence on Pulau 1: This is relevant to eligible fintech companies, FGBS providers and FPSO businesses that can satisfy the physical-location, activity, substance and compliance requirements. The 5% special corporate tax rate is available for 10 consecutive years of assessment and may be extended for a second 10-year period, subject to continued compliance and approval.

This route may suit businesses that value proximity to Singapore while maintaining qualifying operations in Pulau 1. The RTS Link is expected to improve connectivity between central Johor Bahru and Singapore, but it does not remove the requirement for companies to maintain the approved substance and qualifying activities in Forest City.

• Pathway B – MD Status and MD Tax Incentive nationwide: This pathway may be relevant to eligible digital companies operating elsewhere in Malaysia. MD Status is granted nationally by MDEC, and eligible companies may subsequently apply for the MD Tax Incentive. The applicable reduced tax rate or ITA depends on whether the company applies under the New Investment or Expansion category and on the conditions it meets.

Investors and advisers should note that headline rates are not the same as effective tax rates. The outcome for any entity depends on qualifying activities and income, approved commitments, substance conditions and the specific incentive secured. Groups with annual consolidated revenue of EUR750 million or more may also be subject to Malaysia’s domestic top-up tax rules where the relevant effective tax rate falls below 15%. Tax outcomes should therefore be modelled only after verification against current primary sources and professional advice.

The Verdict

Forest City’s proposition to fintech and technology-enabled financial-services companies is specific and condition-based: a 5% special corporate tax rate for qualifying fintech, FGBS and FPSO activities carried out in Pulau 1 using promoted technology enablers. The incentive runs for 10 consecutive years of assessment and may be extended for a second 10-year period, subject to compliance and approval. It is neither a blanket 5% rate for all AI or technology companies nor a 100% income tax exemption.

Alongside this are the separate SFO Incentive Scheme, which may provide a 0% tax rate for up to 20 years subject to SC requirements; the JS-SEZ’s special 15% personal income tax rate for eligible knowledge workers for 10 years; and the national MD Tax Incentive, which offers different reduced tax rates or ITA options depending on whether an applicant qualifies under the New Investment or Expansion category. Applications for the MD Tax Incentive are open until 31 December 2027.

Reported traction includes 260 cumulative investor enquiries recorded by Invest Johor by June 2026 and six families granted conditional approval under the SFO Incentive Scheme, with indicative assets under management close to RM400 million as reported by the SC in October 2025. Forest City also benefits from proximity to Singapore, while the RTS Link is targeted to commence service on 31 December 2026 between central Johor Bahru and Woodlands North.

For companies and investors, the key question is not simply whether these incentives exist, but whether their exact activities, income streams, location, substance commitments and corporate structure satisfy the conditions required to access them in practice. Current official guidance and qualified tax advice should be obtained before any investment or structuringHashtag: #ForestCity

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