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Under the partnership, Etiqa Insurance Singapore’s suite of Shariah-compliant Family Takaful products will be distributed through AIA Singapore and AIA Financial Advisers, the nation’s largest tied distribution channel comprising more than 6,300 highly professional, qualified AIA insurance representatives. This expanded reach significantly increases accessibility and choice for customers seeking principled and values-aligned protection and savings options.

Growing Demand for Values-Based Financial Solutions

Global demand for Takaful continues to rise as consumers increasingly prioritise financial solutions aligned with their personal values. The global Takaful market is projected to grow from US$36.5 billion in 2025 to US$63.6 billion by 2030, representing a compound annual growth rate (CAGR) of 11.7%[1]. Since launching its Takaful offerings, Etiqa Insurance Singapore has seen strong and accelerating momentum, supported by rising consumer awareness and growing confidence in Shariah-compliant financial protection.

Creating a Unified Takaful Ecosystem in Singapore

The partnership brings together the complementary strengths of both insurers to build a more cohesive and accessible Takaful ecosystem:

• Etiqa Insurance Singapore — The pioneer in reintroducing Takaful insurance to Singapore after more than a decade, with deep expertise and a dedicated Shariah advisory framework.
• AIA Singapore — One of the nation’s leading life and health insurers with extensive distribution capabilities, broad community reach and a diverse customer base.

Together, the two organisations are positioned to significantly expand the availability, understanding and adoption of Takaful solutions in Singapore.

“This partnership marks an important step in advancing access to Shariah-compliant protection and savings solutions in Singapore,” said Claudia Soh, Acting Chief Executive Officer, Etiqa Insurance Singapore. “By leveraging AIA’s extensive distribution network and strong presence within the Muslim community, we can scale Takaful solutions more effectively and reach customer groups that have historically been underserved. As demand for values-aligned financial planning grows, this collaboration reinforces our commitment to inclusive and responsible insurance.”

“This partnership with Etiqa is a pivotal step in our commitment to inclusivity and we are excited to work together,” said Alvin Fu, Chief Distribution Officer, AIA Singapore. “By integrating Etiqa’s Shariah-compliant expertise with our highly professional AIA insurance representatives, we can serve a wider customer base, close protection gaps and help more families live Healthier, Longer, Better Lives.”

Bringing Takaful to the Masses

While rooted in Islamic principles, Shariah-compliant, values-based Takaful solutions serve a broad spectrum of customers and appeal to increasingly values-driven consumers seeking ethical, transparent and socially responsible financial protection and savings solutions beyond the Muslim community.

Beyond distribution, Etiqa Insurance Singapore shares a long-term commitment to raising awareness, understanding and adoption of Takaful solutions across Singapore. Through educational programmes and community engagement initiatives, the partnership aims to enhance financial literacy, deepen understanding of Takaful principles and bring Takaful education directly to underserved communities, empowering consumers to make informed decisions on protection and savings.

Hashtag: #EtiqaSingapore #EtiqaSG

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

About Etiqa Insurance Pte. Ltd (Etiqa Insurance Singapore)

Etiqa Insurance Pte. Ltd. (EIPL) is a life and general insurance company licensed and regulated by the Monetary Authority of Singapore and governed by the Insurance Act 1966. Having protected customers in Singapore since 1961 under the name United General Insurance Co. Sdn. Bhd., the company transitioned into the Singapore branch of Etiqa Insurance Berhad in 2009. Today, EIPL in Singapore stands as the pivotal operating entity of Etiqa Insurance Group, a leading insurance and takaful provider in ASEAN.

EIPL offers a comprehensive range of life and general insurance products accessible through its diverse distribution channels, including bancassurance, agents, brokers, financial advisers, partnerships, direct and online sales via Tiq by Etiqa. Etiqa is rated ‘A’ by credit rating agency Fitch for the group’s ‘Favorable’ business profile. EIPL is owned by Maybank Ageas Holdings Berhad, a joint venture combining local market expertise with international insurance knowledge, with 69% ownership by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group operating across 13 countries.

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR[2], Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR[3], and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$345 billion as of 31 December 2025.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 44 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.

“For many, the future may feel less certain, more complex, than it did when we were at this event a year ago. But rest assured: Hong Kong stands strong and unwavering – a city where capital, institutions and families can keep a firm footing, even as the world around them is shifting,” the Chief Executive, Mr John Lee, said in his welcome remarks. “More and more family offices are turning to Hong Kong. We are now home to over 3 380 single family offices – a 25 per cent increase in the past two years. More than half of them have second-generation members, or beyond, in leadership roles. This reflects the confidence that ultra-high-net-worth families have in Hong Kong as a base for wealth transfer between generations.”

The night was highlighted by a magnificent “human-robot lion dance” performance at the start, where traditional lion dancers performed alongside agile robot dogs, bringing the stage to life through vivid movements. The display was a seamless blend of cultural heritage and cutting-edge technology, embodying Hong Kong’s spirit of embracing both tradition and innovation, while echoing the Summit’s focus on frontier themes such as AI and robotics.

Set against a vibrant blend of heritage and innovation, attendees of the principal dinner had an enjoyable night filled with great food and lively exchanges. They were also impressed by the fascinating world-famous Hong Kong skyline, glamourised by photo spots decorated with neon light and retro Hong Kong vibes set up at an open area of the venue. The beautiful night scene created a more relaxing atmosphere for them to connect and share their ideas of bringing social impacts with their wealth.

Tomorrow, family office decision makers and successors from around the world will engage in thought leadership by speakers on three core themes – “Strategic Asset Management for Family Legacy”, “Cultural Value Foundation for a Thriving Market”, and “Smart Tech Innovation Driving Capital Appreciation”- as well as a fireside chat on “Sports and Philanthropy” at the WGHK Summit. These conversations aim to inspire participants in various ways towards building legacies, reinforcing Hong Kong’s status as the premier hub for global family offices for legacy planning and value creation.

Hashtag: #WGHK

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

Officials and defence analysts indicate that the refusal centres on highly sensitive software governing the aircraft’s Active Electronically Scanned Array radar, mission computer architecture and the SPECTRA electronic warfare suite. These components underpin the Rafale’s operational edge, enabling advanced targeting, threat detection and real-time combat adaptability. Without access to underlying code, local engineers face restrictions in modifying or upgrading the systems independently.

The development comes at a time when the Air Force is seeking greater flexibility to integrate indigenous weapons, sensors and software into imported platforms. The Rafale fleet, inducted under an intergovernmental agreement signed in 2016, is widely regarded as one of the most capable multirole assets in service. However, the absence of deep software access limits the scope for customisation beyond manufacturer-approved pathways.

Defence planners have long sought to reduce reliance on foreign vendors for mission-critical technologies, particularly software-defined systems that determine how aircraft perform in evolving combat scenarios. The inability to access core programming frameworks means that even incremental upgrades—such as adapting radar modes or integrating new missile systems—must be routed through the original manufacturer, potentially adding time, cost and operational constraints.

French authorities have maintained that certain technologies embedded within the Rafale are protected by stringent export controls and intellectual property safeguards. Industry sources suggest that this position reflects a broader policy followed by advanced aerospace manufacturers, who rarely transfer full software control of high-end combat platforms. Such restrictions are often justified on grounds of security, technological advantage and contractual obligations tied to proprietary systems.

For New Delhi, the issue extends beyond a single aircraft programme. It underscores a structural challenge in defence procurement, where imported platforms may offer cutting-edge capabilities but limit sovereign control over upgrades and lifecycle management. Analysts argue that the balance between immediate capability acquisition and long-term autonomy has become increasingly complex as modern warfare shifts towards software-centric systems.

The Rafale’s SPECTRA suite, in particular, has drawn attention due to its role in electronic warfare and survivability. Designed to detect, identify and counter threats ranging from radar locks to missile engagements, the system operates through highly classified algorithms. Without access to these algorithms, domestic agencies are unable to independently adapt the suite to emerging threat environments or tailor it to specific operational theatres.

Similarly, the AESA radar’s performance is closely tied to software-defined modes that govern target tracking, electronic counter-countermeasures and situational awareness. Integrating locally developed weapons or sensors requires compatibility at the software level, which becomes challenging when access is restricted. Defence experts note that while some integration is possible through interface agreements, deeper optimisation remains dependent on the original equipment manufacturer.

The issue has also revived debate over the country’s broader push for self-reliance in defence production. Programmes aimed at developing indigenous fighter aircraft, avionics and electronic warfare systems have gained momentum, yet gaps remain in high-end technologies. The Rafale case is being cited by some policymakers as evidence of the need to accelerate domestic research and reduce dependence on external suppliers for core technologies.

At the same time, others caution against overstating the dispute, noting that limitations on source code access are common in international defence deals. They argue that operational effectiveness is not necessarily compromised, as manufacturers continue to provide upgrades and support under contractual arrangements. The Rafale fleet has demonstrated strong performance in exercises and deployments, reinforcing its value as a frontline asset.

Diplomatic considerations are also at play. France has been a key defence partner, with cooperation spanning submarines, helicopters and space technologies. The Rafale agreement itself was seen as a milestone in bilateral ties, reflecting a high degree of strategic trust. Any friction over technology transfer is therefore likely to be managed within the broader framework of long-standing cooperation.

Industry observers point out that negotiations over technology access often involve trade-offs between cost, capability and control. Full access to source codes would significantly alter the commercial and strategic dynamics of defence exports, potentially affecting pricing structures and intellectual property protections. As a result, such concessions are rarely granted, even to close partners.

The episode highlights a growing reality in modern military aviation, where software defines capability as much as hardware. Control over code translates into control over upgrades, interoperability and operational doctrine. For countries seeking to maintain strategic autonomy, this raises fundamental questions about how to structure future procurement and development strategies.

The proposed deal centres on AMD’s latest data centre-grade accelerators, designed to rival dominant offerings in the global AI chip market. Upstage, known for its large language model development and enterprise AI services, is positioning the potential purchase as a step towards building sovereign computing capabilities within Korea, where demand for generative AI infrastructure is rising sharply across finance, manufacturing and public-sector applications.

People familiar with the discussions indicate that the scale of the planned acquisition reflects both immediate computational needs and longer-term ambitions to establish a domestic AI ecosystem capable of training and deploying advanced models without depending heavily on foreign cloud providers. The move aligns with broader efforts in several countries to localise AI infrastructure amid geopolitical concerns and supply chain constraints.

AMD has been expanding its footprint in AI hardware as companies seek alternatives to entrenched suppliers. Its latest accelerators, part of the MI300 series, are designed to handle large-scale model training and inference workloads with improved memory bandwidth and energy efficiency. Industry analysts view Upstage’s interest as a sign that AMD’s strategy of targeting hyperscalers and emerging AI players is gaining traction beyond North America.

Upstage has grown steadily since its founding, focusing on document processing, natural language understanding and enterprise automation. Its proprietary models have been deployed across industries including banking and legal services, where demand for domain-specific AI solutions continues to expand. Executives at the company have previously emphasised the need for greater control over computing resources, citing cost volatility and limited access to high-performance GPUs as barriers to scaling.

Securing a large volume of accelerators could enable Upstage to train more advanced models locally while offering competitive AI services to regional clients. It also positions the company to compete with larger global players that benefit from extensive infrastructure investments. Market observers note that access to compute power has become a defining factor in the AI race, with startups increasingly seeking direct hardware procurement rather than relying solely on cloud-based capacity.

The discussions come amid tightening supply conditions for AI chips, driven by surging demand from technology firms, research institutions and governments. Export controls and trade restrictions have further complicated access to advanced semiconductors, prompting countries in Asia and Europe to accelerate domestic capacity-building initiatives. Korea, home to major semiconductor manufacturers, has been exploring strategies to strengthen its position across the AI value chain.

Government-backed initiatives have aimed to support AI development through funding, talent programmes and infrastructure investments. The potential deal between Upstage and AMD reflects private-sector momentum complementing these policy efforts, as companies seek to capitalise on the growing importance of AI across economic sectors.

Competition in the AI hardware market has intensified as AMD, Intel and other players attempt to challenge established leaders. While Nvidia maintains a dominant position, particularly in training large language models, customers are increasingly evaluating alternative suppliers to diversify risk and manage costs. AMD’s recent partnerships with cloud providers and enterprise customers highlight a shift towards a more competitive landscape.

Analysts caution that large-scale procurement of accelerators involves significant logistical and operational challenges, including data centre readiness, energy consumption and integration with existing software frameworks. Upstage would need to invest in infrastructure and engineering capabilities to fully utilise the hardware, particularly if it aims to build a self-sufficient AI platform within Korea.

At the same time, the strategic implications extend beyond a single company. A successful deployment of large-scale compute resources by Upstage could encourage other regional players to pursue similar investments, contributing to a broader decentralisation of AI development. This trend could reshape how AI capabilities are distributed globally, reducing the concentration of computing power in a handful of technology hubs.

The vessels, loaded with LPG cargoes, are following a path similar to that taken by earlier ships that received clearance to transit the narrow waterway. Industry observers say hugging the Iranian side of the strait may reflect efforts to minimise exposure to potential risks amid heightened scrutiny of maritime movements in the region. The Strait of Hormuz, through which a significant share of global oil and gas exports passes, has long been vulnerable to disruption during periods of political friction.

Shipping analysts note that the altered routing strategy has become more visible as operators weigh safety considerations against the need to maintain steady energy flows. The decision to steer closer to Iran’s coast does not necessarily indicate a change in official navigation guidelines but highlights the adaptability of commercial shipping in response to perceived threats. Maritime insurers and charterers have been closely monitoring developments, with premiums and risk assessments adjusting in line with evolving conditions.

India’s reliance on imported LPG has grown steadily over the past decade, driven by expanding domestic consumption and government-backed programmes aimed at increasing access to cleaner cooking fuels. As a result, uninterrupted maritime supply chains are critical for meeting demand. The movement of Indian-flagged vessels through Hormuz carries added significance given the country’s position as a major energy importer and its exposure to volatility in global shipping lanes.

The route taken by these vessels follows earlier transits that were understood to have been cleared through established maritime coordination channels. While no formal restrictions have been imposed on passage through the strait, heightened alert levels in surrounding waters have prompted shipowners to adopt precautionary measures. These include adjustments to sailing speeds, increased onboard vigilance, and coordination with naval authorities in the region.

Tensions in West Asia have periodically raised concerns about the security of shipping through Hormuz. Episodes involving vessel seizures, drone activity, and naval manoeuvres have reinforced the strategic sensitivity of the waterway. Although large-scale disruptions have been avoided, even limited incidents can have ripple effects across global energy markets, influencing freight rates, insurance costs, and delivery schedules.

Market participants indicate that LPG shipments have remained largely uninterrupted, but logistical complexities have increased. Charter rates for gas carriers have shown signs of volatility, reflecting both demand dynamics and risk premiums associated with transiting high-risk zones. Traders and refiners are factoring in longer voyage times and potential delays when planning cargo movements.

Officials and industry executives emphasise that international maritime law guarantees freedom of navigation through straits used for international transit, including Hormuz. However, the practical execution of that principle often depends on the prevailing security environment. Naval patrols by regional and international forces continue to play a role in deterring threats and ensuring safe passage for commercial vessels.

Energy analysts point out that India sources LPG from multiple suppliers, including producers in West Asia and beyond, making the Hormuz route indispensable. Any sustained disruption could have implications for domestic supply chains, pricing, and inventory management. At the same time, diversification strategies, including alternative sourcing and storage capacity expansion, are being explored to mitigate potential risks.

The movement of the two LPG carriers also reflects broader trends in global shipping behaviour, where operators increasingly rely on real-time intelligence and data analytics to inform routing decisions. Advances in vessel tracking and communication technologies have enhanced situational awareness, enabling more responsive navigation strategies in sensitive regions.

Shipping companies have also strengthened coordination with flag states and port authorities to ensure compliance with safety advisories and regulatory requirements. Crew training and contingency planning have gained prominence, with a focus on preparedness for a range of scenarios, from mechanical issues to security incidents.

High-end resorts along the Andaman coast and landmark properties in Bangkok have introduced significant discounts, extended stay packages and exclusive local offers to offset a slowdown in foreign arrivals. Industry executives describe a shift in booking patterns, with cancellations rising in key long-haul markets and advance reservations thinning compared with earlier projections.

Tourism has long been central to Thailand’s economic model, contributing a substantial share of gross domestic product and supporting millions of jobs. The luxury segment, in particular, relies heavily on affluent visitors from Europe, the Middle East, China and North America, many of whom plan trips months in advance. Heightened regional tensions and broader global uncertainties have altered those patterns, prompting travellers to reconsider long-haul leisure plans.

Hotel operators report that destinations such as Phuket, Krabi and Koh Samui—traditionally magnets for premium travellers—have experienced a noticeable drop in occupancy rates at the top end of the market. In Bangkok, riverside hotels and internationally branded properties are also seeing softer demand from overseas guests, especially in the high-spending segments that underpin profitability.

To cushion the impact, hotels have rolled out targeted campaigns aimed at residents and expatriates. Weekend staycation deals, dining credits, spa packages and family-oriented promotions have become more prominent. Some properties are offering discounts of 20 to 40 per cent compared with standard peak-season rates, while others are bundling experiences to maintain revenue per guest despite lower room prices.

Industry analysts say the strategy reflects both necessity and opportunity. While domestic travellers typically spend less than international tourists, their presence can help maintain occupancy levels, keep staff employed and sustain ancillary revenue streams such as food and beverage services. Hotels are also leveraging loyalty programmes and partnerships with local banks and airlines to attract repeat customers.

Executives within major hospitality groups indicate that flexibility has become essential. Pricing is being adjusted more frequently in response to shifting demand signals, and marketing efforts are increasingly focused on short-haul markets that may be less sensitive to geopolitical developments. Regional travellers from Southeast Asia and parts of South Asia are being courted alongside domestic guests.

The slowdown in foreign arrivals is not uniform across all markets. Some segments, including travellers from neighbouring countries, continue to show resilience, though not enough to fully offset declines from traditional long-haul sources. Chinese outbound tourism, a key driver before the pandemic, remains uneven, adding another layer of uncertainty for hotel operators.

Government agencies have sought to reassure visitors by emphasising safety measures and the country’s established tourism infrastructure. Promotional campaigns highlighting cultural attractions, wellness tourism and culinary experiences are being amplified to sustain Thailand’s global appeal. However, industry participants acknowledge that external factors—particularly geopolitical tensions—are largely beyond their control.

Airline capacity and flight connectivity also play a critical role. Any reduction in routes or frequency can quickly translate into fewer arrivals, affecting hotel bookings across the spectrum. Conversely, competitive airfares and improved connectivity could help stimulate demand once conditions stabilise.

Luxury hotel operators are also reassessing cost structures to preserve margins. Energy efficiency initiatives, staffing adjustments and renegotiation of supplier contracts are among the measures being implemented. At the same time, there is caution against excessive discounting that could dilute brand positioning in the long term.

Tourism experts note that Thailand has demonstrated resilience in past crises, including political unrest, natural disasters and global health emergencies. Recovery patterns have often been swift once external conditions improve, supported by strong brand recognition and diversified tourism offerings.

The current environment, however, underscores the vulnerability of high-end hospitality to global shocks. Dependence on international travellers exposes the sector to sudden demand fluctuations, prompting calls for a more balanced mix of domestic and regional tourism.

Hotel groups are increasingly investing in digital marketing and data analytics to better understand changing consumer behaviour. Personalised offers, dynamic pricing models and targeted advertising campaigns are being used to capture demand in a more competitive landscape.

This global change will mark a significant step in ML’s ongoing transformation, guided by the “Logisnext Vision 2035“. As part of this process, ML has formed a partnership with Japan Industrial Partners (JIP) as the new strategic partner to support sustainable growth and long-term value creation. Consequently, all group companies will adopt the new company name from 30^th of April.

Commitment to Customers
“While our name is changing, our commitment to customers and dealer partners remains unchanged,” said Yasumitsu Baba, Managing Director of Mitsubishi Logisnext Asia Pacific. “We will continue to provide reliable equipment, trusted services, and solutions that drive customer success, while further strengthening our global alignment.”

Global and Regional Strategy
Logisnext operates globally through four regional hubs: Japan, EAME (Europe, Africa, CIS, and Middle East), Americas, and APAC/C/SA (Asia Pacific, China and South Africa). This structure enables the group to reinforce its position as a leading solutions provider in the logistics industry answering to the local customers’ needs.

In line with the rebrand, the global Logisnext group will implement strategic changes to its brand portfolio in the coming years. These are tailored to the specific needs of each region, ensuring the best fit to serve regional markets. Starting with Japan, “Mitsubishi Forklift Trucks” product lines will rebrand to “Logisnext”.

APAC/C/SA Region Update
In the APAC/C/SA region, the “Mitsubishi Forklift Trucks” will transit to “Logisnext Forklifts” in the coming years as part of the rebranding initiative. During this period and beyond, we are committed to continue offering customers the same dependable engineering, innovative equipment and comprehensive solutions, delivered through our dealer partners. Mitsubishi Forklift Trucks is best known for its Reliability, Quality and Value for Money will continue to be with the “Logisnext Forklifts” brand, customers can expect same ownership experience and satisfaction.

Transition and Support
Throughout this transition, MLAP is prioritising stability and consistency for dealer partners and customers. All current support teams and service structures will remain in place, ensuring a seamless process for all stakeholders.

Hashtag: #MitsubishiLogisnextAsiaPacific #LogisnextAsiaPacific #MitsubishiForkliftTrucks #MitsubishiForklifts #LogisnextForklifts

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

About Mitsubishi Logisnext Asia Pacific

We are part of Mitsubishi Logisnext that operate globally, based in Kyoto, Japan with presence in Asia, EAME, the Americas, and the Pacific, the Group has a rich history of innovation and is now further strengthening its position as a leading provider of materials handling solutions.

Mitsubishi Logisnext Asia Pacific offers scalable solutions from material handling and extensive fleet support. Headquartered in Singapore, it offers a complete portfolio of advanced counterbalanced, warehouse and automation products and solutions. Other brands in the Mitsubishi Logisnext Asia Pacific portfolio include Cat^® Lift Trucks, TCM, UniCarriers and Nichiyu. All products are backed by an extensive dealer network of 98 dealer locations offering industry-leading customer service and product support.

For more information, visit https://www.logisnext.com.sg

The event brought together 500 key partners, including leading international retail brands such as UNIQLO, MUJI, Decathlon, Pandora, CGV, AEON Beta Cinema, SuperPark, KOHNAN, Central Retail, WinMart, Starbucks, Dookki, Guardian, and MEDICARE, alongside major domestic brands and chains including ACFC, Maison, Phoenix Group, Golden Gate, Aladdin Group, Takahiro, RuNam, Highlands Coffee, and The New Playground…

At the event, Vincom Retail’s leadership emphasized the rapid transformation of the retail industry, where shopping malls and commercial streets are evolving beyond traditional retail spaces to become lifestyle destinations. These destinations integrate immersive experiences, foster community connections, and lead modern consumption trends. This shift reflects changing consumer behavior, with a growing preference for experience, emotion, and interaction over mere purchasing and ownership.

Setting the direction for future growth, Vincom Retail unveiled its strategic vision toward 2030, focusing on developing world-class destinations. The company aims to position itself as a leading retail real estate developer and operator in Asia, setting benchmarks in trend leadership and customer experience, with a diverse and expansive asset portfolio and an extended international footprint supported by a global ecosystem. This unique platform enables pioneering brands and concepts to converge and co-create breakthrough experiences, many of which are being introduced in Vietnam for the first time, delivering fresh value to consumers while shaping the future of retail and establishing new regional standards.

In terms of product strategy, Vincom Retail is focusing on two core formats. Vincom Mega Mall is positioned as a “Mega Shoppertainment Destination”, a large-scale experiential hub that leads market trends. Meanwhile, Vincom Collection is developed as a “Retail-tainment Destination”, combining shopping and tourism, built around five key pillars: Play – Discover – Shop – Savor – Relax.

A prime example is the “super destination” model integrating Retail – Tourism – Entertainment at Vinhomes Green Paradise Can Gio, featuring 15 next-generation retail complexes. Among them, Vincom Mega Mall Can Gio and Vincom Collection Cosmo Bay are the first projects to be unveiled, promising multi-layered experiences that harmonize with nature and prioritize sustainable operations.

Beyond strategic insights, the forum also featured real-world success stories and forward-looking perspectives from pioneering brands that have helped shape Vietnam’s evolving experiential retail landscape. Mr. Vu Ngoc Thuan, Founder of restaurant chains Longwang, Tianlong, Bo To Quan Moc, and GMaster, shared: “Partnering with platforms like Vincom provides a strong launchpad for brands to accelerate growth, expand further, and professionalize according to international standards.”

Mr. Shin Jae Hyuk, representative of Dookki, also highlighted growth strategies to capture market opportunities: “Together with our trusted partner Vincom, we will continue to create new milestones for Vietnam’s F&B market. Our goal is not only to sell tteokbokki, but to deliver the joyful culture of Korean cuisine to customers at an accessible price point.”

Vincom Retail plays a critical role as a developer, platform, and connector, bringing international brands to Vietnam while supporting Vietnamese brands in their journey to expand globally.

Additionally, SuperPark, a global indoor activity park brand, shared insights into the development of family-oriented active entertainment, one of the fastest-growing trends in next-generation shopping malls. These real-world examples highlight the strong opportunities for brands to collaborate with Vincom Retail to scale operations, develop innovative retail concepts, optimize performance, and enhance customer experience.

As the market enters a new phase of growth, the event not only facilitated strategic dialogue but also strengthened sustainable partnerships between Vincom Retail and its stakeholders. As a market pioneer, the company continues to support brands in scaling up, elevating business models, and capturing long-term growth opportunities. Notably, emerging super destinations such as Can Gio – envisioned as a future national tourism hub – are expected to serve as powerful growth drivers, contributing to the transformation of Vietnam’s retail landscape.

Vincom Retail is currently the largest retail real estate developer in Vietnam and ranks among the top three in Southeast Asia by scale. The company operates 90 shopping malls with a total gross leasable area of 1.9 million square meters, and manages 5,500 shophouses totaling 1.5 million square meters across 31 out of 34 provinces and cities nationwide, partnering with more than 1,000 brands.

Hashtag: #VincomRetail

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

Speaking during engagements in China, Cook highlighted the “extraordinary” role of local developers in Apple’s ecosystem and emphasised the company’s long-standing collaboration with suppliers and technology partners across the country. The remarks came at a time when Beijing has intensified oversight of foreign technology firms and promoted domestic alternatives, raising questions about the operating environment for global companies.

China remains central to Apple’s business, both as a manufacturing hub and as one of its largest consumer markets. A substantial share of the company’s iPhones, iPads and Mac computers are assembled through an intricate network of suppliers led by firms such as Foxconn and Pegatron. At the same time, the country contributes a significant portion of Apple’s revenue, with urban consumers forming a key segment for premium smartphone sales.

Cook’s comments appeared calibrated to reinforce Apple’s commitment to China while avoiding direct reference to the regulatory challenges. Officials in Beijing have tightened rules governing data security, app distribution and foreign technology usage within state-affiliated institutions. These measures have created uncertainty for international companies, particularly those reliant on digital services and hardware integration.

Apple has faced periodic restrictions affecting its ecosystem, including limitations on certain apps and services. Reports of curbs on iPhone use in government-linked workplaces have added to concerns about demand stability, although the company has not publicly confirmed the extent of such measures. Analysts note that even incremental policy shifts can have a disproportionate impact given Apple’s scale in the market.

Cook’s outreach to developers underscores another strategic priority. China hosts one of the largest communities of iOS app creators, contributing to the global App Store economy. By highlighting their role, Apple is reinforcing the narrative that its platform supports local innovation and entrepreneurship, a message aligned with Beijing’s broader push for technological self-reliance.

At the same time, Apple has been diversifying parts of its supply chain beyond China, expanding production in countries such as India and Vietnam. This shift reflects lessons drawn from pandemic-related disruptions and escalating trade tensions between Washington and Beijing. However, industry experts caution that replicating China’s manufacturing ecosystem elsewhere remains a complex and long-term undertaking, given its scale, skilled workforce and logistics infrastructure.

Market dynamics within China are also evolving rapidly. Domestic smartphone brands, including Huawei, Xiaomi and Oppo, have intensified competition, particularly in the high-end segment where Apple has traditionally maintained strong margins. Huawei’s resurgence, supported by advances in semiconductor capability despite earlier sanctions, has altered the competitive landscape and placed additional pressure on foreign players.

Cook’s remarks can be seen as part of a broader effort to sustain goodwill with Chinese authorities and stakeholders while navigating these shifts. Maintaining strong relationships with local partners is essential not only for production continuity but also for regulatory compliance and market access.

Investors are closely monitoring Apple’s positioning in China, viewing it as a bellwether for broader trends affecting multinational technology firms. Any prolonged slowdown in demand or disruption in supply chains could have implications for global revenue and earnings forecasts. At the same time, Apple’s brand strength and ecosystem integration continue to provide a degree of resilience, particularly among affluent consumers.

Government policy remains a critical variable. Beijing has signalled support for domestic technology champions while also seeking to attract foreign investment, creating a dual-track approach that can be difficult for companies to interpret. For Apple, balancing these competing dynamics requires careful messaging and operational flexibility.