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A new regional network aims to change that.

The Professional Services (PS) Centre Singapore, officially launched today by Ms Indranee Rajah, Minister in the Prime Minister’s Office, Second Minister for Finance and National Development, is the latest addition to a growing network of Professional Services Centres that connects businesses with trusted professional expertise across Asia.

Located at Level 2 of ISCA House, the Singapore PS Centre will serve as the anchor hub of the regional network, linking businesses to PS Centres in Hongqiao (Shanghai), Ho Chi Minh City and Nanjing, with Jakarta expected to join later this year. Future centres are also planned in Bangkok, Johor Bahru and Shenzhen.

Rather than building another office, the PS Centre is building something different, a trusted regional network where businesses can access local knowledge, professional expertise and business connections through one coordinated platform.

The initiative is led by the PS Centre Alliance, comprising the Association of Small & Medium Enterprises, Institute of Valuers & Appraisers, Singapore Business Federation, Singapore Chinese Chamber of Commerce & Industry, Singapore Manufacturing Federation, Tax Academy of Singapore, The Law Society of Singapore and the Institute of Singapore Chartered Accountants (ISCA).

Helping businesses solve real problems
As businesses expand across borders, the challenges they face have become more complex. They are no longer limited to setting up an office or understanding local regulations. Companies today are responding to geopolitical shifts, changing trade policies, supply chain realignment, AI disruption, cyber risks and growing sustainability expectations, while trying to build trusted relationships in unfamiliar markets. No single profession can solve these challenges alone.

The PS Centre brings together professionals from different disciplines, including legal, accounting, tax, corporate secretarial, HR, valuation, sustainability and business consulting, so businesses can access coordinated support instead of approaching each profession separately.

Beyond professional advice, businesses can tap on local business associations, government agencies, chambers of commerce and ecosystem partners connected through the PS Centre network.

More than a networking platform
The Singapore PS Centre will also introduce the Business Growth Clinic, a new initiative where business owners can bring real business challenges to a multidisciplinary panel of professionals.

Whether the challenge is expanding overseas, adopting AI, raising capital, restructuring a business or planning succession, businesses will receive practical guidance and be connected with the right professionals to help move their plans forward.

Early results from the network
Although the network is still in its early stages, businesses are already seeing results. Through the Shanghai PS Centre, Singapore based accounting firm Unity Assurance secured new business opportunities in China and subsequently established a joint venture with a local partner.

The Nanjing PS Centre supported firms such as Morningstar and Fiducia LLP with local business introductions, office setup and talent connections as they expanded into China. In Vietnam, the Ho Chi Minh City PS Centre has supported Singapore businesses such as Koda Ltd and JDI Ventures in navigating different aspects of regional expansion, such as guidance on pressing cross-border matters and local business introductions to support market entry. The Centre has also connected Vietnamese technology companies such as Techvify and Vinova with relevant networks and market insights to support their entry into Singapore.

These examples demonstrate how trusted local networks can shorten the time needed for businesses to enter new markets while reducing uncertainty.

Strengthening Singapore’s position as a trusted business hub
The Singapore PS Centre complements Singapore’s position as a global business and financial hub by extending trusted professional services into key markets across Asia.

As more centres are established, businesses will be able to tap on one connected network instead of building relationships from scratch in every country.

For Singapore professional services firms, it also creates new opportunities to support clients expanding overseas and to build partnerships with firms across the region.

Mr Lee Boon Teck, President, ISCA, said: “Business is becoming increasingly regional, but professional services are still largely organised country by country. Companies expanding overseas often spend months trying to identify trusted advisers and build local networks. The PS Centre network changes that. We are bringing together trusted professional firms, business associations and local partners across Asia, making it easier for businesses to expand with confidence. Our vision is simple. Wherever a business chooses to grow in Asia, there should be a Professional Services Centre ready to support that journey.”

Ms Junie Fo, Vice President & Head, Professional Services, Singapore Economic Development Board, said “Professional services firms play a critical role in helping Singapore-based enterprises navigate the rapidly evolving global business environment. The Singapore PS Centre will provide access to different professional services to support enterprises’ regional growth needs. EDB looks forward to working with members of the PS Centre Alliance to advance the Professional Services ecosystem.”

About the Professional Services Centre
The Professional Services Centre is a collaborative initiative by the PS Centre Alliance to support businesses expanding across borders through trusted professional expertise, local business networks and market access. The network currently spans Singapore, Hongqiao (Shanghai), Ho Chi Minh City and Nanjing, with further expansion planned across Asia and the Middle East.
Hashtag: #ISCA #CharteredAccountants #ProfessionalServices #ProfessionalServicesCentre #DifferenceMakers #Accounting #Accountancy

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Institute of Singapore Chartered Accountants (ISCA)

Release of Phased Achievements of the National Pilot Base for AI Application (Financial Sector) Held Alongside the Conference

SHANGHAI, CHINA – Media OutReach Newswire – 20 July 2026 – On 17 July, the 2026 World Artificial Intelligence Conference (WAIC) officially opened in Shanghai. UnionPay unveiled three proprietary AI technologies developed for the financial sector at the Shanghai exhibition area: financial transaction time-series foundation model, the Agentic Payment Open Protocol (APOP) framework, and a privacy-preserving large language model inference solution. As the AI era unfolds, the showcase highlights UnionPay’s continued commitment to accelerating the adoption of digital and intelligent technologies.

On 18 July, UnionPay hosted the Release of Phased Achievements of the National Pilot Base for AI Application (Financial Sector) at the UnionPay Center alongside WAIC 2026. The event brought together more than 100 representatives from commercial banks, Chinese and international partners, leading technology companies, academia, and research institutions. During the event, UnionPay released its “1+6+N” AI achievements framework, announced a series of industry partnerships, and launched a joint initiative calling for greater collaboration on the development and governance of the financial industry. These achievements demonstrate the progress of the National AI Application Pilot Base in building an open innovation platform that accelerates AI adoption across the industry.

Dong Junfeng, Chairman of China UnionPay and UnionPay International, attended the event and delivered a keynote speech. He noted that AI is rapidly reshaping the financial industry. Since the National AI Application Pilot Base was launched in 2025, it has delivered a number of meaningful outcomes through close collaboration across the industry. Mr. Dong elaborated on the vision for the development of the base from through three dimensions: sharing, collaborative governance, and mutual benefits. First, by pooling computing resources, data and models on a centralized public platform, the base helps address industry challenges such as the high cost of computing resources and data silos. This lowers barriers to AI adoption across the financial sector. Second, the base has strengthened AI security by building robust safeguards for large language models and applying AI to enhance transaction risk management and cybersecurity. Such efforts are made to support a safer and more resilient financial ecosystem. Third, the base is accelerating the AI adoption across real-world use cases. It has incubated a range of commercial AI solutions spanning agentic payments, credit risk management, consumption promotion and merchant digital transformation, turning technological innovation into tangible business value. Looking ahead, the future of AI + Finance holds enormous potential. UnionPay looks forward to working with partners across industries to build an open, shared, and well-governed financial AI ecosystem that supports the development of new productive forces through technological innovation.

A highlight of the event was the official launch of UnionPay’s “1+6+N” AI achievements framework.

The “1” represents a unified portal—the National AI Application Pilot Base. Built on a “One Portal, Six Centers” structure, it integrates six specialized centers covering models, datasets, applications, talent development, supply-demand matching, and financial services. Together, the platform currently hosts 11 models, 14 datasets, 59 demonstration applications, and 61 service offerings, bringing together 145 core resources in total.

The “6” refers to six independent and controllable capabilities, including computing resources scheduling through a trusted intelligent computing sharing platform, high-quality financial datasets, finance-specific foundation models, AI-powered financial security services, financial AI standards, and a pilot testing sandbox that supports model training and evaluation. Together, these six capabilities form the base’s shared technology foundation, providing ecosystem partners with the core technical infrastructure.

The “N” represents a portfolio of benchmark use cases, standardized AI solutions, and demonstration applications built on this technology foundation. These applications span five key areas—intelligent payments, inclusive finance, consumption growth, risk management and compliance, and operational excellence—building a multi-tier product portfolio serving consumers, merchants, local governments and financial institutions. This accelerates the application of AI capabilities across diverse use cases.

Together, the “1+6+N” framework of the base connects computing power, data, models, and use cases and forms an end-to-end value chain. By addressing common industry challenges—including limited computing resources, data silos and the high cost of AI deployment—it delivers standardized and widely accessible AI capabilities, providing the financial industry with reusable, highly secure and one-stop AI solutions for intelligent transformation. This also reflects UnionPay’s commitment not only to driving its own business growth, but also to enabling the industry through foundational capabilities and reinforcing financial infrastructure for the AI era.

These achievements have already been made available to industry partners and are beginning to create value. For banks, acquirers and other financial institutions, UnionPay’s shared infrastructure enables rapid access to mature financial AI capabilities without the need to build systems from scratch, significantly reducing both technical barriers and implementation costs. For merchants, UnionPay offers AI-powered marketing, digital analytics and intelligent risk management tools to support smarter operations, improve customer engagement and enhance operational efficiency, enabling even small and medium-sized businesses to benefit from AI innovation. For technology companies and other ecosystem partners, the base enables partners to rapidly adapt AI products for financial applications and complete compliance validation, accelerating the commercialization of technological innovations.

The event also featured six rounds of partnership signing ceremonies, covering areas including AI-themed card, cross-border agentic payment ecosystem development, AI-powered operational empowerment for merchants, joint commercialization of pilot base innovations, and broader ecosystem collaboration across the financial industry chain.

Following the signing ceremonies, UnionPay released the Initiative on the Collaborative Development and Governance of AI Applications in Financial Services, with representatives from participating organizations joining the stage to witness its launch. Building on the “1+6+N” framework, the initiative calls on industry stakeholders to collaborate in four areas: First, advancing trusted AI systems that serve the real economy by establishing governance mechanisms for traceable and explainable algorithms while safeguarding data privacy and security; Second, strengthening collaboration among industry, academia, research institutions and users, leveraging the base to jointly advance core technologies and develop independent and secure financial AI infrastructure; Third, promoting openness and inclusiveness by sharing mature AI models, testing services and implementation solutions to reduce the cost of intelligent transformation, particularly for SMEs; Fourth, improving lifecycle governance through tiered risk management, enhanced compliance standards and coordinated risk prevention. The initiative calls on all industry stakeholders to work together by jointly strengthening the foundation, unlocking greater value through shared capabilities, and reinforcing collaborative governance, with the goal of advancing the sound development of AI in the financial sector and driving digital finance through technological innovation.

Hashtag: #UnionPay

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Nine in ten Malaysians say they’re good homestay guests and the data backs them up

Key takeaways:

• 85% of Malaysians say being a respectful homestay guest is highly important – and 4 in 5 feel a sense of responsibility to surrounding communities
• Many say good guest behaviour is common sense and rooted in Malaysian values of respect and consideration
• Two thirds (66%) treat homestays as their own: washing dishes, taking out rubbish – with some even going the extra mile and leaving thank-you messages for hosts
• Since It’s Durian Season: Nearly 8 in 10 would ask first, step outside, or skip it entirely rather than bring durian into a shared space without permission
• Over 97% of stays made in Malaysia on Airbnb in the past year completed without any complaints or reported issues

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 20 July 2026 – Most Malaysians practice the same unspoken rules: take off your shoes at the door, keep the noise down after 10pm, ask for permission if you are bringing durian into someone else’s house, and whatever you do, don’t be the reason the neighbour complains. A new survey by YouGov, commissioned by Airbnb, suggests these habits don’t stay home. For most Malaysians, they travel.

The survey of 1,000 Malaysians who had stayed in a homestay in Malaysia within the past year found that 85% consider being a respectful homestay guest to be highly important, and 9 in 10 describe themselves as good or excellent guests*. But what sets Malaysian travellers apart isn’t just their attitude – it’s the reason behind it. The top motivators for good behaviour are common sense (61%), respect for the host (60%), and personal values (59%)*.

Malaysians also link their behaviour to something larger – seeing considerate guesting as a natural extension of Malaysian values of respect and consideration for others*. 82% say they would genuinely feel bad if their behaviour disturbed a neighbour during a stay, and 4 in 5 feel a sense of responsibility towards the surrounding community*.

Malaysians are not just polite, they go above and beyond

Good intentions, it turns out, translate into action. Around 60% of respondents surveyed stated that they consistently exhibit considerate behaviours during stays – keeping noise down after dark, parking without blocking others, following house rules, and disposing of rubbish properly. Two-thirds of those surveyed treat homestays like how they would treat their own homes, doing things beyond basic house rules. During their recent homestays, the majority of guests surveyed reported that they washed all the dishes before checking out, took out the rubbish, and tidied up the space — with some going even further to leave thank-you notes, water plants, or tidy beyond anything they’d touched. And 77% say they regularly check house rules before or at the start of a stay, not because they have to, but because they want to get it right.

Together, these everyday actions show that many Malaysians see short-term rentals and homestays as more than just one-off accommodations but an invitation into someone else’s home and community.

The durian dilemma

That same care also shows up in sticky, durian-sized situations. Durian season is here, prices are at an all-time low, and so is the age-old question of how to enjoy it without upsetting the neighbours in shared spaces. The report shows that Malaysians are mindful about strong-smelling food in shared buildings. Notably, rather than risk inconveniencing their host, 8 in 10 respondents say they would either ask the host first, eat durian outside or in the car park, or avoid bringing it altogether*. It’s a small gesture, but it captures something real: Malaysians don’t need a rule for every situation. They already know how to read the room.

A familiar way for Malaysians to travel

Short-term rentals are now part of the fabric of how Malaysians travel and of the neighbourhoods they travel through.

Among respondents, 60% say they choose short-term rentals or homestays for better value for money, 46% cited home-like amenities such as kitchens and laundry facilities, and 44% the ability to stay together as a group*. The survey also suggests that home-sharing has become a familiar part of many Malaysian neighborhoods. Among respondents who say that there are short-term rentals or homestays in their neighbourhoods, 96% have no objections – with 71% even expressing that they’re comfortable having one next door – reflecting growing familiarity with home-sharing across communities.

Where host standards meet guest expectations

Airbnb’s internal data reflects the same picture. From March 2025 to March 2026, over 97% of stays made in Malaysia on Airbnb were completed without any complaints or reported issues**. Guest Favourite listings in Malaysia – homes recognised for consistently delivering outstanding guest experiences – grew by over 40% between March 2024 to March 2026***. When guests arrive as good neighbours, the whole ecosystem benefits.

For Airbnb, the data tells a consistent story: a community that takes pride in the experience, on both sides of the door.

Amanpreet Bajaj, Airbnb’s Country Head for Southeast Asia and India, said, “At Airbnb, the most meaningful travel experiences happen when guests feel connected not just to a place, but to the people and communities around them. That comes down to small acts of consideration and kindness — neighbourly traits that come naturally to many Malaysians. As more people choose home-sharing for group trips and shared experiences, we want to continue fostering a culture of respectful travel, helping domestic and inbound travellers understand local customs, community expectations, and what it means to be a thoughtful guest. Together, we can ensure the benefits of travel are felt not just by guests and hosts, but by the neighbourhoods that welcome them.”

Helping travellers stay like good neighbours

As part of its commitment to responsible travel, Airbnb has launched the Good Guest Guide – a practical resource offering tips on how to enjoy Malaysia like a local while being a respectful guest and neighbour. The guide builds on Airbnb’s existing platform measures, including reservation screening technology, a global disruptive party ban, and the Guide to Responsible Hosting in Buildings, which provides hosts, guests, and strata communities with a Code of Conduct, a Neighbourhood Support Line, and reference by-laws for short-term rental activity in Malaysian buildings. From August 2026, the guide will be available for hosts to feature in their listings and will be emailed to all first-time guests booking in Malaysia.

*Based on a survey conducted by YouGov between 22 May – 8 June 2026, commissioned by Airbnb, of 1,000 Malaysian citizens aged 18–45 who had travelled domestically and stayed in a short-term rental or homestay within the past 12 months.

**Based on internal Airbnb data for stays booked in Malaysia from March 2025 to March 2026

***Based on internal Airbnb data for listings in Malaysia from March 2024 to March 2026
Hashtag: #Airbnb

https://news.airbnb.com/ms

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About Airbnb

Airbnb was born in 2007 when two hosts welcomed three guests to their San Francisco home, and has since grown to over 5.5 million hosts who have welcomed 2.5 billion guest arrivals in almost every country across the globe. Every day, hosts offer unique stays and experiences that make it possible for guests to connect with communities in a more authentic way.

The decision was announced during the discussion “Competition Development in Global Grain Trade: Joint Efforts of BRICS Countries”, organized by the BRICS Competition Law and Policy Centre on the sidelines of the 23rd Session of the UNCTAD Intergovernmental Group of Experts on Competition Law and Policy in Geneva.

The event included a closed meeting of BRICS competition authorities and a public panel featuring researchers, academics and representatives of international organizations.

Discussions focused on competition in global grain markets, the growing influence of financialization and digitalization across agricultural value chains, and policy tools to improve market transparency. Participants also reviewed the findings of a joint report prepared by the BRICS Competition Centre and UNCTAD (link: https://www.bricscompetition.org/ru/grainreport) , first presented at the 9th BRICS International Competition Conference in Cape Town in 2025.

A coordinated market study

The central outcome of the meeting was the establishment of a BRICS task force that will coordinate a joint sector inquiry into global grain trade within the framework of the BRICS Working Group on Food Markets.

The task force will be co-chaired by Diogo Thomson, President of Brazil’s Administrative Council for Economic Defense (CADE), and Mahmoud Momtaz, Chairperson of the Egyptian Competition Authority (ECA).

Thomson welcomed the initiative and proposed making competition in global grain trade a key topic at the next BRICS International Competition Conference, scheduled to take place in Brazil in 2027.

“Brazil is the only jurisdiction that has launched an investigation into digital grain trading platforms such as Covantis. I therefore strongly welcome this sector inquiry, which will help us better understand the impact of digitalization across grain supply chains and the risks it may create for competition. I also support using the BRICS Competition Centre as the coordination platform for this work,” he said.

Momtaz said one of the main conclusions of the BRICS-UNCTAD report was the significant role speculative activity plays in global grain markets.

“One of the key findings of the report presented by the BRICS Competition Centre is the extent to which speculative factors influence global grain trade. The most effective response is greater market transparency. We should not accept a situation where farmers receive only a small share of the value they create while consumers in Egypt pay excessively high prices for bread. Where does this margin accumulate, and who ultimately benefits from it? These are the questions our sector inquiry should answer,” he said.

He also proposed that the task force develop a common AI-powered price monitoring tool covering BRICS grain markets.

“Such a tool would provide the information needed for market analysis and become an important complement to the joint sector inquiry,” Momtaz added.

From analysis to policy recommendations

Hardin Ratshisusu, Deputy Commissioner of the Competition Commission of South Africa, said the study should contribute to the implementation of the BRICS Grain Exchange initiative endorsed by BRICS leaders in the Kazan Declaration (2024) and the Rio de Janeiro Declaration (2025).

“The proposal to establish a BRICS Grain Exchange should become one of the key recommendations of the sector inquiry as an innovative mechanism for restoring competition in global grain trade. Our objective is not merely to identify market problems but to develop practical recommendations that can ultimately be submitted to the leaders of our countries,” he said.

Alexey Ivanov, Director of the BRICS Competition Law and Policy Centre, said competition authorities should play a central role in designing the institutional framework of the future exchange.

“The BRICS Grain Exchange should not become another formal institution. It must serve as a practical mechanism for improving competition and market transparency. Competition authorities are uniquely positioned to identify the institutional features that will allow the exchange to achieve these objectives,” he said.

Growing international role

Frédéric Jenny, Chairmanof the OECD Competition Committee, said the initiative demonstrated the growing international role of BRICS competition authorities.

“This project illustrates how BRICS competition authorities are becoming drivers of the global competition agenda. In the past, they largely followed the lead of developed jurisdictions. That is no longer the case. There are very few examples worldwide of such close cooperation between competition authorities. This applies not only to joint market studies, but also to enforcement cooperation and competition advocacy. Rather than acting individually, you have found both the mechanisms and the political will to work together,” Jenny said.

The task force will now begin developing the methodology and work plan for the joint inquiry. Its findings are expected to provide policy recommendations aimed at strengthening competition, improving transparency in global grain trade, and supporting future BRICS initiatives in agricultural markets.

Hashtag: #BRICSCompetition

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