News related to
stake

Beijing has pushed its reusable space programme a step further with the launch of an experimental spacecraft that state media described as a technology-verification mission, underlining how the country is trying to cut launch costs, raise flight tempo and broaden the range of missions it can carry out in orbit. The spacecraft was launched on 7 February aboard a Long March-2F rocket from the Jiuquan Satellite Launch Center in northwest China, in what was the fourth publicly disclosed mission of this type since 2020.

Chinese authorities released only a brief account of the flight, saying the spacecraft would verify reusable-spacecraft technologies and support the peaceful use of space. No official duration was given, and no details were provided on the systems being tested, the orbit reached or the vehicle’s configuration. That secrecy has become a hallmark of the programme and makes it difficult to judge exactly how far the technology has advanced, but the pattern of repeated flights suggests a sustained effort rather than a one-off demonstration.

Chronology matters here. China’s first disclosed flight in September 2020 lasted about two days. A second spacecraft launched in August 2022 stayed in orbit for 276 days before landing in May 2023. A third mission, launched in late 2023, returned in September 2024 after 268 days in orbit. Those longer flights point to growing confidence in long-duration autonomous operations, recovery procedures and mission endurance. Outside observers have often compared the craft with the United States’ X-37B-style approach to reusable uncrewed orbital vehicles, though Beijing has not publicly confirmed such comparisons.

This mission also fits into a much wider acceleration in Chinese space activity. On 7 April, China used a Long March-8 rocket from the Hainan commercial launch site to place 18 internet satellites into orbit for the Qianfan constellation. On 11 April, it carried out a sea launch using a Smart Dragon-3 rocket from waters off Guangdong, sending up a test satellite aimed at supporting satellite internet technology. Taken together, those launches show a programme expanding on several fronts at once: reusable vehicles, commercial launch infrastructure and large low-Earth-orbit communications networks.

Beyond low-Earth orbit, China is tying these advances to a broader national space agenda. Beijing is aiming for a crewed lunar landing by 2030 and is developing the Long March-10 rocket, the Mengzhou spacecraft and the Lanyue lunar lander for that effort. At the same time, the Chang’e-7 lunar probe is scheduled for launch in the second half of 2026. That means the reusable-spacecraft programme should be viewed less as an isolated experiment than as one part of an expanding architecture that spans launch systems, spacecraft design, lunar exploration and space-based connectivity.

Money and industrial policy are also shaping the picture. Reuters has reported that Beijing is funnelling more support towards private launch companies as it tries to build capacity for large satellite constellations and reduce reliance on state-owned providers alone. CAS Space has targeted fresh capital for reusable rocket research, while LandSpace and other firms are also turning to capital markets. Separate policy changes have given reusable-rocket developers a faster route to listing, provided they meet technical milestones, showing how closely commercial launch activity is now aligned with national strategic goals.

Yet the programme’s momentum should not be mistaken for mastery. China is advancing, but it is still chasing a lead established by SpaceX in frequent booster recovery and reflight. On 3 April, Space Pioneer said the maiden flight of its Tianlong-3 reusable rocket had failed, and Reuters reported that no Chinese firm had yet demonstrated the ability to recover and reuse a rocket’s main stage. LandSpace plans another recovery test for its Zhuque-3 rocket this year, while the Long March-12B reusable rocket completed a static firing test in January ahead of later flight missions. Progress is visible, but so are the engineering gaps.

The meeting carried weight beyond bilateral symbolism. Qatar is India’s largest supplier of liquefied natural gas and a major source of liquefied petroleum gas, making the Gulf state central to India’s fuel security at a time when shipping risks and production interruptions have tightened markets. New Delhi’s outreach came as it sought assurances on supply after weeks of strain across West Asian energy routes and amid concern over the effect of regional instability on domestic fuel availability and industrial consumption.

Doha’s message was also framed by diplomacy. The official Indian statement said the ministers welcomed the two-week ceasefire agreed on April 8 and underlined the need for an early end to disruption in global energy supplies. It added that Puri conveyed greetings and a message of solidarity from Prime Minister Narendra Modi to Qatar’s leadership, reflecting how the energy relationship is now closely tied to broader strategic engagement covering trade, investment and regional stability.

For India, the stakes are immediate. The country depends on imports for about half of its natural gas needs, and the supply shock has already exposed vulnerabilities in infrastructure and procurement. GAIL’s finance director said this week that the Dabhol LNG terminal in Ratnagiri was operating at less than half its 5 million-tonnes-a-year capacity because of constrained global supplies. Hindustan Petroleum’s Chhara LNG terminal in Gujarat has also faced difficulties after missing two cargoes in March and April that were expected from Qatar via ADNOC Trading.

The background to the Doha talks is a sharp deterioration in regional energy logistics. Reuters reported on April 8 that QatarEnergy was preparing to restart LNG production after attacks in March forced stoppages at facilities in Ras Laffan and Mesaieed. Two of three trains at QELNG North 1 had been restarted, but a full return depended on vessels being able to pass safely through the Strait of Hormuz, one of the world’s most sensitive energy chokepoints. The same disruption has inflated spot prices and increased anxiety among large importers across Asia.

That makes Qatar’s long-term importance to India even clearer. In February 2024, QatarEnergy and Petronet LNG signed their largest single LNG supply agreement, under which Qatar will deliver 7.5 million metric tonnes a year from 2028 to 2048. Reuters reported at the time that Qatar planned to lift LNG liquefaction capacity to 126 million tonnes a year by 2027, up from 77 million, as it sought to strengthen its role in Asian and European markets. The scale of that agreement gives India a measure of stability, but it also underlines how deeply its gas strategy remains linked to a single Gulf supplier.

That dependence has advantages and risks. Qatar has earned a reputation for contractual reliability and remains among the lowest-cost LNG producers in the world, qualities prized by importers facing volatile spot markets. At the same time, the events of March and April have shown that even long-established energy corridors can be shaken by military escalation, damage to infrastructure and pressure on maritime routes. For policymakers in New Delhi, that is likely to sharpen interest in diversification through additional long-term contracts, more storage, broader sourcing and faster domestic gas infrastructure expansion.

India’s longer-term energy ambitions add another layer to the relationship. The government has repeatedly said it wants to raise the share of natural gas in the energy mix to 15 per cent by 2030, from just over 6 per cent at present. That target cannot be met without dependable imported LNG, even as the country pushes renewables, domestic gas output and cleaner urban fuels. Reliable Qatari supply therefore remains integral not only to short-term energy security, but also to India’s broader transition strategy and industrial planning.

Jardines embeds sustainability within its value creation strategy and applies a rigorous lens to investment and capital allocation decisions. There are clear sustainability expectations for our diverse portfolio of market‑leading businesses with the aim to build resilience and mitigate emerging risks.

Earlier, Jardines announced its strategic repositioning from owner-operator to an investment company with a focus on sustainable, top-quartile Total Shareholder Return. Jardines is also committed to active portfolio value creation, talent development, world-class governance and sustainability improvements across its portfolio.

In 2025, Jardine Matheson delivered strong progress on its ‘Building Towards 2030’ sustainability strategy:

• Climate action – Decarbonisation remains top priority. 8% decline in scope 1 and 2 emissions from companies on the Decarbonisation and Transition pathway
• Responsible consumption – Improvements in waste reduction, resource efficiency and circularity initiatives. 29% decrease in total waste generated and 95% total waste diverted from landfill
• Social inclusion – Ongoing investments in education, health and livelihoods. US$59m in community investments made
• Governance and transparency – Enhanced sustainability governance and disclosure as Jardines maintains portfolio oversight of sustainability across its portfolio. ESG ratings improvement reflect positive response on sustainability performance _{(S&P: 82nd percentile, ISS ESG: Prime)}

Ben Keswick, Executive Chairman of Jardine Matheson said, “Sustainability is foundational to how we protect and enhance economic value and build long-term resilience across Jardine Matheson – it is an essential value that every business in our portfolio must commit to and that guides the investment decisions we make. We will continue to embed sustainability in our strategy and portfolio management decisions, with a clear focus on decarbonisation, by setting clear commitments, measuring progress against our roadmaps, and applying disciplined governance across our portfolio.”

Decarbonisation is top priority
Contributing to a sustainable, low-carbon future is a strategic priority for Jardines. In 2025, the Group delivered an 8% reduction in total scope 1 and 2 emissions, reflecting steady progress across its diversified portfolio. This was supported by a continued shift away from fossil-fuel energy, with renewable energy accounting for 45% of total energy consumption, alongside an overall reduction in energy use.

Jardines’ decarbonisation approach is structured around two pathways: a Decarbonisation Pathway, and a Transition Pathway for mining and energy businesses.

In 2025, Jardines’ portfolio companies began formal reporting on climate risks and opportunities to their audit committees, following the integration of climate risks into existing ERM processes the prior year. Alongside, Jardines is also integrating sustainability factors into investment due diligence and decision-making, ensuring material sustainability-related aspects of an investment are considered as Jardines continues to unlock value creation for its stakeholders.

Looking forward
Looking ahead, Jardines will continue to embed sustainability as a core value driver across its portfolio by setting clear commitments and prioritising decarbonisation. The Group will continue to strengthen governance and incentives to drive accountability and deliver on scope 1 and 2 emissions reduction pathways.

To access the Sustainability Report 2025, please visit sustainability.jardines.com/2025/ or click here to download the PDF.
Hashtag: #JardineMatheson

https://www.jardines.com
https://www.linkedin.com/company/jardine-matheson/

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

Jardine Matheson

Jardine Matheson (Jardines) is a diversified, Asia-focused investment company. Founded in China in 1832, Jardines creates value for our stakeholders by building lasting, scalable businesses in Asia that produce sustainable returns and market leading services and products.

We ensure highly-qualified boards and leadership teams are in place across the Group, with incentives aligned to driving shareholder value. At the holding company level, we aim for decisive portfolio management built on disciplined capital allocation and strong investment expertise.

At Jardines, we value integrity and long-term partnerships. We ensure global best practice in risk management and governance is embedded across our portfolio, and coupled a strong balance sheet with excellent access to low-cost funding from banks and the capital markets.

Since our founding, Jardines has benefitted from the role of family shareholders who act as long term stewards of our values and commitments – which includes embedding sustainability across our portfolio companies and doing right by our communities for the long term. We are proud to build value for shareholders while also making a positive contribution to the communities we serve.

Jardine Matheson holds interests in Hongkong Land (54.7%), DFI Retail Group (77.5%), Mandarin Oriental (100%), Jardine Pacific (100%), Jardine Cycle & Carriage (JC&C) (85.7%), and Zhongsheng (21.4%). JC&C in turn has a 50.1% shareholding in Astra.

Jardine Matheson Holdings Limited is a listed company with a primary listing on the London Stock Exchange and a secondary listing in Singapore.

www.jardines.com

BANGKOK, THAILAND – Media OutReach Newswire – 8 April 2026 – SC has announced its first major rebrand in 20 years, repositioning the brand as “Beyond Residential”. The company is moving forward with the strategy “Reform to Perform” to rebalance its business portfolio through three business engines, diversifying revenue sources, increasing recurring income, and building new S-curves for future growth. SC has set a total revenue target of THB 25.5 billion for 2026 and aims to achieve a new profit high by 2030.

Mr. Nuttaphong Kunakornwong, Chief Executive Officer of SC Asset Corporation Public Company Limited or SC, said that the fragile global economic environment has prompted the company to proactively adapt over the past two to three years. These efforts include organizational restructuring, financial discipline, expanding joint investment partnerships, and initiating new businesses in line with its risk diversification strategy. The company has gradually reshaped its business structure into a portfolio built around three business engines. These include Engine 1 Residential Property, Engine 2 Recurring Income Property, and Engine 3 New Businesses for a Better Future.

SC is also targeting to increase the profit contribution from Engine 2 and Engine 3 to more than 30 percent in order to drive the company’s overall profit to reach a new high again by 2030, while ensuring that all businesses continue to create value for people and the planet.

In 2026, the company will implement a comprehensive rebrand, including a new logo and refreshed corporate identity, marking its first such transformation in 20 years. The move reinforces SC’s position as “Beyond Residential,” supported by a more flexible and diversified portfolio, enabling the company to engage more effectively with customers, employees, partners, investors, and stakeholders.

2026 Business Targets and Plans

• SC targets total revenue of THB 25.5 billion in 2026, representing 21% growth year-on-year, with a capital expenditure budget of THB 8 billion to drive all three business engines. The Interest-Bearing Debt to Equity ratio (IBD/E) is expected to decline to below 1.2 times.

• Engine 1: Residential Property, targeting sales of THB 27 billion, up approximately 33% from 2025, and transfers of THB 23 billion, with backlog of more than THB 18.5 billion as of end-2025, of which around 40% is expected to be recognized in 2026.

– Low-rise housing: Revitalizing of eight single-detached home series across 17 projects under a concept focused on deeply understanding life needs.
– Condominium: Launch of a new ultra-luxury branded residence and a new riverside project, with a combined value of THB 25.5 billion across two projects.

– Introduction of “GenSCription” (Living Subscription Program by SC), responding to the growing shift toward renting instead of homeownership among younger generations, increasing accessibility and flexibility in housing.

• Engine 2: Recurring Income Property, covering operations across hotels, warehouses, office buildings, and rental apartments in the U.S. The business targets revenue growth of around 70 percent to THB 2 billion.

– Expansion of hospitality portfolio by 450 rooms in key seaside destinations such as Pattaya and Phuket.
– Development of an additional 170,000 square meters of warehouse space in the Bangna–EEC zone.
– Investment in alternative energy businesses to support data center growth under SCX 360.

• Engine 3: New Businesses for a Better Future, covering after-sales services, digital platforms, and health related businesses. The company targets revenue of THB 400 million this year, representing growth of around 60 percent from 2025.

– After-sales services will expand from 150 projects to 260 projects, alongside the launch of LINTON, a concierge service designed for ultra luxury residents.
– SC has allocated an investment budget of THB 1 billion over the next three years to support the growth of this business segment.

• SC also introduced “SC Green Mark,” a green building development standard encompassing environmental performance and residents’ quality of life. The standard will be applied across all engines and projects to ensure sustainable growth aligned with long-term environmental responsibility.

• Sustainable business operations

– The company continues to operate in accordance with international sustainability assessment standards of FTSE Russell.
– SC is advancing its greenhouse gas reduction efforts in line with its five-year target of reducing 100,000 tons of carbon emissions from 2025 to 2030.
– The company is also introducing SC Green Mark, a green building development standard covering environmental performance and residents’ quality of life, which will be applied across all engines and projects.

“Brands are like living things. They survive through evolution, and brands that fail to adapt will eventually become extinct. SC therefore continues to evolve. Rebranding and organizational reform are part of that evolution. A more flexible and diversified business portfolio will enable SC not only to survive but to grow sustainably in the highly volatile and challenging real estate industry, while creating greater value for people more broadly,” Nuttaphong said.
Hashtag: #SC #SCisQuality #SCBusinessDirection2026 #ReformtoPerform

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

Set in the Nangang district in Taipei, the new documentary features a residential development designed to withstand major earthquakes, typhoons and extreme weather conditions. The project faced extraordinary engineering challenges due to its location on soft ground and vulnerability to earthquakes, conditions rarely encountered in urban environments.

The Global One is the realization of the vision of Nankang Rubber Tire Corporation’s late Chairman, Lin Hsueh‑Pu, and redefines the standards of safety in residential developments, with a goal to last a century and provide peace of mind to its residents. The documentary follows teams on the ground as they combine advanced engineering and rigorous testing, to enhance the building’s safety specifications, beyond other critical buildings in Taiwan.

Audiences will get insight into engineering practices and hear how The Global One is built for extreme disaster resilience and long‑term durability, with a structure that incorporates special shock absorbers into the walls to dampen the violent tremors, as well as specific electrical wiring and pipes, which were carefully selected to reduce fire risk and function during emergencies.

Catch Building Icons: The Global One in Southeast Asia on Discovery Channel, Friday, April 10 2026 at 7:10 PM SGT and on Discovery Asia on Sunday, April 12 at 9:00 PM SGT.

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

About Discovery Channel

Across every platform, Discovery Channel is dedicated to connecting audiences who have a passion for adventure and crave a connection to the world around them. Popular series including Deadliest Catch, Expedition Unknown and Gold Rush, along with Shark Week, the annual tentpole programming event, serve as trusted portals that transport viewers directly into thrilling, real, high stakes moments. Through smart, authentic characters whose stories inform and inspire, Discovery celebrates the men and women who will stop at nothing to explore new spaces and achieve their dreams. For more information, please visit www.discovery.com.

The research, authored by Research Strategist Ager Freddy, Senior Researcher Timothy Benson, and ACES Institute President Dr. Shanggari Balakrishnan, argues that the phrase “doing the right thing” is frequently invoked in business discourse as a universal moral ideal, yet it is rarely examined through the lens of operational cost and strategic trade-offs. The study identifies that what is considered “right” varies significantly depending on the stakeholder ranging from regulatory compliance for governments and governance standards for investors to fair wages for employees and responsible resource use for environmental advocates.

The 4Cs Framework and Institutional Resilience

Central to the publication is the introduction of the 4Cs leadership framework: Creativity, Conscientiousness, Constancy, and Collaboration. According to the ACES Institute, these four pillars are essential for embedding ethical considerations directly into an organization’s product design, engineering processes, and corporate culture. The researchers suggest that by moving beyond surface-level corporate social responsibility and toward an institutionalized philosophy, companies can build a foundation for long-term differentiation and resilience.

The study acknowledges that this values-driven approach often necessitates difficult decisions that may carry significant short-term costs. Organizations pursuing deep sustainability or ethical strategies may face higher production expenses, skepticism from traditional market analysts, and resistance from consumers who express support for sustainability in theory but remain sensitive to price in practice. Furthermore, the research explores how global economic and political dynamics, such as shifting regulations and differing sustainability standards across international markets, complicate the efforts of leaders to maintain a consistent ethical stance.

Case Study Analysis: Letright Industrial Corp., Ltd.

To provide empirical evidence for these findings, the report examines the multi-decade journey of Letright Industrial Corp., Ltd., a manufacturer of premium outdoor living products. Under the leadership of founder and CEO Ren Li, the company made a pivotal decision in the early 2000s to abandon wood then the dominant material in the industry in favor of recyclable materials such as aluminum. This decision was driven by personal conviction regarding environmental impact rather than immediate market demand or regulatory requirements.

The case study illustrates the “Constancy” pillar of the ACES framework, noting that the move initially triggered significant resistance. During this period, customers continued to prefer traditional materials, employees questioned the strategic shift, and management warned of the financial consequences of declining orders. However, the research highlights that by persisting through this uncertainty, Letright successfully transitioned from an original equipment manufacturer (OEM) to an original design manufacturer (ODM). This shift allowed the company to build its own intellectual property, eventually leading to the development of the Ombra solar smart pergola, which integrates photovoltaic technology for renewable energy generation.

Executive Perspective on Global Leadership

“Organisations today operate in a landscape where expectations rarely align,” stated the authors of the study. “What appears responsible to one group may be viewed as inadequate or even harmful by another. Ultimately, ethical leadership does not mean achieving universal approval or avoiding difficult decisions. Instead, it requires organisations to define their own principles and align strategy, operations, and innovation around those values.”

The publication concludes that while “doing the right things” does not guarantee universal agreement, organizations that clearly define their values and consistently act on them are statistically more likely to build lasting relevance and resilience in an increasingly complex business environment. This research forms a key part of the ACES Institute’s ongoing mission to examine the intersection of leadership, sustainability, and responsible corporate transformation across global industries.
Hashtag: #ACESInstitute #LetrightIndustrial

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

About ACES Institute

About Letright Industrial Corp., Ltd. | Ombra Brand