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Co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), this year’s AFF, themed “Co-creating New Horizons Amid an Evolving Landscape”, takes on added significance being the first such event of China’s 15^th Five-Year Plan period (2026-2030).

“Featuring more than 150 prominent speakers, from Hong Kong, throughout the Asian region and around the world, the Forum will inspire insight and innovation, create partnerships and explore fresh business opportunities,” John Lee, Chief Executive of the HKSAR, said in his opening remarks at the Forum.

Mr Lee also spoke of the boundless opportunities for Hong Kong under the unique principle of “one country, two systems”, that assures Hong Kong of the unwavering support of China, while continuing to expand its global markets and reach.

“This unparalleled positioning solidifies our institutional strengths: the rule of law, a judiciary that exercises its power independently, an open and transparent market, the free flow of capital and a low and simple tax regime,” Mr Lee said.

Mr Lee later witnessed the signing of a co-operation agreement between the Financial Services and the Treasury Bureau and the Shanghai Gold Exchange, marking a new milestone in deepening co-operation between the gold markets of Hong Kong and Shanghai.

The agreement was signed by the Secretary for Financial Services and the Treasury, Christopher Hui, and the Chairman of the Shanghai Gold Exchange, Yu Wenjian.

“The agreement just now signed is far more than a formal document,” said Mr Hui.

“It represents a resolute commitment to advancing the synergistic development of Hong Kong and Shanghai as premier international financial and gold markets. It reflects our joint determination to deepen the integration and complementary strengths of Hong Kong and Shanghai, so that together we can expand our share and influence in the global gold market, and better support Renminbi internationalisation.”

Mr Hui outlined the strategic significance of the agreement and the overall development blueprint for Hong Kong’s gold market.

“In recent years, amid heightened geopolitical uncertainty, inflationary pressures, and ongoing restructuring of the international monetary system, the strategic importance of gold has become even more pronounced,” Mr Hui said.

The agreement covers two major forward-looking areas of co-operation: establishing a high-level, collaborative governance structure for Hong Kong’s new gold central clearing system; and opening new avenues for physical infrastructure synergy and market interconnectivity.

“The signing of this agreement with the Shanghai Gold Exchange marks the dawn of a new chapter—one in which Hong Kong and Shanghai join forces to shape the future of global gold markets,” Mr Hui said.

A discussion session on gold trading themed “Global Spectrum – Gold Exchange” features expert panelists invited to examine recent market developments and share insights on Hong Kong’s role, potential and opportunity as a world-class gold trading centre. Speakers include overseas experts James Emmett, Chief Executive Officer, MKS PAMP SA and David Tait, Chief Executive Officer, World Gold Council.

Other highlights on day one of the AFF include a keynote luncheon speech by Dr José Manuel Barroso, former President of the European Commission, former Prime Minister of Portugal, and current Chairman of Goldman Sachs International Advisory Board, to share his insights on the current global landscape and macro‑level challenges.

Other notable speakers today include Zou Jiayi, President of Asian Infrastructure Investment Bank; Scott Morris, Vice-President (East and Southeast Asia, and the Pacific) of the Asian Development Bank; Mehmet Şimşek, Minister of Treasury and Finance of Türkiye; Klemen Boštjančič, Deputy Prime Minister and Minister of Finance of Slovenia; H.E. Waleed Saeed Abdul Salam Al Awadhi, Chief Executive Officer of Securities and Commodities Authority of United Arab Emirates; Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank; Rhee Chang-yong, Governor of the Bank of Korea; and Gokul Laroia, Chief Executive Officer Asia of Morgan Stanley.

The AFF serves as the opening event of the International Financial Week in Hong Kong, featuring over 10 partner activities covering a range of global financial and business topics, including ASEAN opportunities, asset and wealth management, and artificial intelligence.

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UABBHK 2025 transformed traditional architectural exhibitions into a dynamic civic performance, positioning artificial intelligence (AI) not as a tool, but as a platform to co-create ethical, inclusive, and human-centred futures. Through immersive installations, public workshops, and experimental formats, UABBHK 2025 invited audiences to participate in the design of the city — in real time.

“The Biennale has not only showcased the possibilities of design in the AI era, but also activated a civic platform where architecture, technology and public imagination intersect,” said Ar. Allen Poon, Chairman of The Hong Kong Institute of Architects Biennale Foundation, during the ceremony. “Today’s conclusion marks both a milestone and a beginning — a new phase of creative exploration among Hong Kong, Shenzhen and the world.”

Exhibition Highlights: Tech Meets Imagination

UABBHK 2025 unfolded across two venues, Oil Street Art Space (Oi!) and the newly opened East Kowloon Cultural Centre (EKCC), showcasing 25 curated exhibits by architects, artists, researchers, and technologists from Hong Kong and beyond. Teams from 10+ regions, including Chinese Mainland, Hong Kong, Taiwan, as well as Australia, Austria, Italy, Japan, Singapore, the Netherlands, the UK, and the USA, explored how AI can be integrated into architectural thinking, spatial storytelling, and participatory design. Among the highlights were 4 video screening works that extended the exhibition’s themes through cinematic and documentary perspectives, addressing topics such as displacement and homecoming, the entanglement of code and culture, and speculative futures shaped by collective memory and student-led design fictions. Interactive installations like Prompt[Pond]ering, Sentient Mirror, and Collaborative Ephemeral Pavilion invited audiences to co-design spaces through AI-driven interactions. Works such as LANdLine Project and Flower Market Imaginaries grounded these future-facing visions in Hong Kong’s unique community and cultural context.

“In curating UABBHK 2025, we imagined AI not as a threat, but as a collaborator — a partner in rehearsing the future of our cities,” shared by Dr. Jimmy Ho and Ar. Aron Tsang, Lead Curators of UABBHK 2025. “We are proud to have created a platform that enables technology to be tangible, and civic imagination visible.”

Extending Impact: Public Programmes on Innovation & Collaboration

To extend the UABBHK 2025’s engagement beyond the galleries, two flagship public programmes were launched to bring AI and urban thinking into action: the ArchiTech Hackathon and the Hetao Vision: AI Video Competition.

ArchiTech Hackathon: Bridging Architecture and AI

Held earlier on the 24 January morning and co-hosted with Google Developer Group Hong Kong (GDGHK), the ArchiTech Hackathon was a first-of-its-kind 3-hour collaborative event that brought together 40 architects, developers and students — half from the HKIA Young Architects Group (YAG) and half from GDGHK — to explore how AI can support architectural workflows. The participants learned to use Google’s Gemini model and no-code platforms to build AI agents for architectural design code compliance.

Led by Mr. Frankie Wu from GDGHK, Ms. Adeline Chan and Ar. Owen Lam, Executive Curators of UABBHK 2025, the event embodied UABBHK’s vision by fostering cross-disciplinary collaboration between the tech and design communities, showcasing AI as a practical and imaginative tool for the built environment.

The winning team is Mr. Eric Chan and Ar. Toby Chiu. They successfully built the AI ​​agent for the competition in an astonishing time of 3 minutes, 56.32 seconds within a 60-minute timeframe, and was able to answer 10 questions, as required by the competition, completing the complex professional architect exam questions with 90% accuracy under four minutes.

Hetao Vision: Innovative AI Video Competition

Also announced during the ceremony were the winners of the Hetao Vision AI Video Competition, which invited creators to imagine the future of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (HSITP). All entries were required to be fully AI-generated — both visually and aurally — using tools such as Runway, Pika Labs, Suno, and Udio.

The competition explored how AI can democratise futurology, letting creators of all backgrounds envision interconnectivity, innovation, and inclusiveness across the “one river, two banks” vision of Hetao.

The winning video,titled 深港河脈：一河兩岸的科創樞紐宏圖(Shenzhen-Hong Kong River Network: A Grand Vision for a Science and Technology Innovation Hub Across Both Banks) by Mr. Zhang Xiaoshan, was praised for utilising AI to create a convincing narrative of a cross-border innovation hub, demonstrating a profound understanding of the development of the Hetao area. Two additional finalists were also recognised for their distinctive storytelling and technical creativity.

A public screening of the shortlisted videos will be held in the Hetao Science and Technology Innovation Centre, in February 2026, allowing the public to reflect on the role of AI in imagining future urban life.

What’s Next: Visit UABBSZ and Explore the Living Archive

UABBHK 2025 will continue its journey in the Shenzhen & Hong Kong Bi-City Biennale of UrbanismArchitecture (Shenzhen) (UABBSZ) from January to March 2026. Whether you participated in the Hong Kong Edition or missed it, we warmly welcome you to visit the parallel venue of UABBSZ, at the Shenzhen Hetao Science and Technology Innovation Centre. Come and view the selection of UABBHK 2025 exhibits, continuing the creative dialogue and collaboration between Hong Kong and Shenzhen.

In addition, UABBHK 2025’s ideas and output will remain accessible through a dedicated digital gallery website and a forthcoming archive booklet, both will preserve the curatorial vision, exhibited works, and public interactions from this edition. These resources will serve as an open, living archive — a springboard for future conversations across architecture, AI, and urban futures.

Hashtag: #UABBHK

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About The Hong Kong Institute of Architects Biennale Foundation

The Hong Kong Institute of Architects Biennale Foundation is a non-profit making organisation established and incorporated in 2014 for charitable purposes. The objects for which the Biennale Foundation is established are:

• To promote creativity and advance the understanding, appreciation and interest of architectural and design excellence
• To encourage cross-border and cross-disciplinary dialogue and collaboration among creative professionals from Hong Kong, other parts of the Greater China region and overseas
• To support art, design, architectural and cultural education for students and youth, the community, and policy makers
• To create a favourable environment for study, research and experimentation of design, art and architectural works in an exhibition scale
• To energise and revitalise specific sites of interests by introduction of cultural and creative events

About the Cultural and Creative Industries Development Agency

The Cultural and Creative Industries Development Agency (CCIDA), formerly known as Create Hong Kong (CreateHK) since 2009, was established in June 2024. CCIDA is a dedicated office under the Culture, Sports and Tourism Bureau of the Government of the Hong Kong Special Administrative Region (HKSAR Government) to provide one-stop services and support to the cultural and creative sectors with a mission to foster a conducive environment in Hong Kong to facilitate development of the arts, culture and creative sectors as industries. CCIDA’s strategic foci are nurturing talent and facilitating start-ups, exploring markets, promoting cross-sectoral and multi-disciplinary collaboration, promoting industrialisation of the arts, culture and creative sectors under the industry-oriented principle, and fostering a creative atmosphere in the community, thereby reinforcing Hong Kong as Asia’s creative capital and our positioning as the East-meets-West centre for international cultural exchange.

As a lead candidate under Immuno Cure’s patented “PD-1-Enhanced DNA Vaccine Technology Platform”, ICVAX aims to achieve sustained, immune-mediated HIV-1 virological control without the need of antiretroviral therapy. Following the successful first-in-human ICVAX Phase I clinical trial in Shenzhen that showed exceptional safety and immunogenicity profiles, this clinical study will explore the safety and immunogenicity of ICVAX in HIV-infected volunteers in Hong Kong, to be administered by three distinct delivery systems. This comparative approach will provide essential data on the optimal delivery method for ICVAX, and hence potentially identifying the most effective, patient-friendly and scalable option for enhancing immunotherapeutic responses in people living with HIV.

The clinical study will be conducted at Prince of Wales Hospital and will be led by Dr Grace LUI, Head of the Division of Infectious Diseases at CUHK Medicine’s Department of Medicine and Therapeutics, as the Principal Investigator. This is a randomized clinical study to evaluate the immunogenicity and safety of ICVAX in a total of 22 HIV-infected volunteers using three delivery systems: Teresa-EPT-1 electroporation device, PharmaJet’s Tropis, a WHO pre-qualified needle-free injection system, and PapiVax’s TriGrid EP device.

This study has been granted ΗΚ$4.2 million funding under the Public Sector Trial Scheme of the Innovation and Technology Fund of the HKSAR Government (project reference number: UTT/002/23GM). Professor Zhiwei CHEN, Director of the HKU AIDS Institute and Principal Scientific Advisor of Immuno Cure, serves as the Project Coordinator for this funding. This study is also partially supported by Theme-based Research Scheme (TRS) of the Research Grants Council under the University Grants Committee of the Education Bureau (project reference number: T11-702/24-N).

“This Phase I clinical study is an important landmark, being the first evaluation of ICVAX in Hong Kong volunteers and incorporating multiple innovative delivery technologies,” said Dr Grace LUI. “By testing these devices, we aim to optimize safety, immunogenicity, and patient experience for this promising HIV therapeutic DNA vaccine candidate.”

“ICVAX is built on the innovative PD-1-Enhanced DNA vaccine technology invented and developed locally at the HKU,” said Professor Zhiwei CHEN. “This study will help optimize delivery of ICVAX, paving the way for broader international deployment.”

“The launch of this clinical study is a major milestone of vaccine development for Immuno Cure,” said Dr Xia JIN, CEO of Immuno Cure. “By testing ICVAX for the first time in Hong Kong and comparing three innovative delivery devices this study not only advances our understanding of the performance of our DNA medicines, but also significantly supports the global commercialization of ICVAX and our other DNA medicines. Immuno Cure is committed to leading innovation in immunotherapy to combat infectious diseases and cancers.”

Hashtag: #ImmunoCure

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About Immuno Cure

Immuno Cure is a clinical stage biotechnology group based in the Hong Kong Science Park, focusing on research and development of innovative DNA medicines and antibody immunotherapies to fight against cancers, inflammatory and infectious diseases based on its patented PD-1-enhanced DNA Vaccine Platform and Anti-Δ42PD1 Antibody Platform

To learn more about Immuno Cure, please visit http://www.immunocure.hk.

About CUHK Medicine

Established in 1981, CU Medicine has achieved international recognition in teaching, research, and clinical practice and is the youngest medical school ranked among the world’s top 25 in many global rankings. In the “Best Global Universities Subject Rankings 2025-26” by U.S. News and World Report, its “Gastroenterology and Hepatology”, “Endocrinology and Metabolism” and “Clinical Medicine” programmes rank 1st in Asia, while Gastroenterology and Hepatology claims 2nd globally.

The Faculty comprises 14 clinical departments and five schools, delivering a world-class environment for teaching and research with a strong emphasis on interdisciplinary, interprofessional, and international collaboration. To date, it has cultivated over 6,000 medical graduates who are making an impact across local and global healthcare systems. The Faculty is dedicated to driving innovation by translating groundbreaking research into real-world clinical applications. Its contributions have reshaped medicine — evidenced by the filing of 3,000 patents, strategic patent acquisitions, and the establishment of more than 20 start-ups. Its pioneering research has not only rewritten international clinical guidelines but also revolutionised the prevention, diagnosis, and treatment of numerous diseases.

To learn more about CU Medicine, please visit http://www.med.cuhk.edu.hk.

About HKU AIDS Institute

HKU AIDS Institute was established in November 2007 to take HKU in a new strategic direction in fighting this global epidemic and help to make it a leader in the region in AIDS research, education and prevention. Scientists at the AIDS Institute are fully committed to conducting basic and applied research that facilitates the understanding of AIDS pathogenesis and the development of effective AIDS vaccines. Currently, the Institute is leading the Hong Kong Theme-based Research Scheme entitled “Potentiating Host Immunity for HIV-1 Functional Cure”.

To learn more about HKU and AIDS Institute of HKU, please visit https://www.hku.hk/ and https://www.med.hku.hk/aidsinst/.

About BAY TRIAL

BAY TRIAL is a key initiative in implementing the “Notice of the State Council on Issuing the Development Plan for the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone” (State Council [2023] No. 12). It serves as strong support for Shenzhen’s development as an international science and technology innovation centre and for promoting the high-quality development of the biopharmaceutical industry in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Located in the Hetao Shenzhen-Hong Kong Cooperation Zone, BAY TRIAL leverages the zone’s unique geographical and policy advantages to integrate clinical trial innovation resources across the GBA, deepen Shenzhen-Hong Kong science and technology collaboration, and establish a one-stop clinical trial platform.

To learn more about BAY TRIAL, please visit: https://baytrial.smart.org.cn/about/index.html

Advancing R&D, talent development and the region’s energy transition

SINGAPORE – Media OutReach Newswire – 26 January 2026 – ST Telemedia Global Data Centres (STT GDC), one of the world’s fastest growing data centre colocation providers headquartered in Singapore, today announced two significant initiatives that strengthen Singapore’s position in the global digital and energy transition: the launch of the FutureGrid Accelerator, Southeast Asia’s first live High Voltage Direct Current (HVDC)-powered AI infrastructure testbed; and a suite of strategic Memoranda of Understanding (MOUs) with four Institutes of Higher Learning (IHLs) to advance skills development and expand internship and early career pathways for Singaporeans entering the workforce. These initiatives align with national efforts to support talent graduating into a challenging job market, while building the specialised capabilities required for next generation power and digital infrastructure.

Officiated by Ms Gan Siow Huang, Minister of State for Foreign Affairs and Trade & Industry, the announcement underscores a national push to build capabilities not only for AI-ready data centres, but also for the wider energy ecosystem, as Singapore and the region pursue net-zero ambitions.

FutureGrid Accelerator: HVDC innovation for AI and the wider energy transition
Located at the Nanyang Technological University, Singapore (NTU Singapore) Electrification and Power Grids Centre (EPGC) on Jurong Island, the FutureGrid Accelerator is a pioneering initiative jointly developed by STT GDC and LITEON, supported by the Energy Research Institute @ NTU (ERI@N) and NTU deep-tech spinoff Amperesand. It is the region’s first live testbed demonstrating HVDC integration with real AI workloads, addressing the high-density and high-resiliency requirements of next-generation AI computing.

While central to the future of AI data centre architecture, HVDC represents a broader opportunity: it is a foundational technology that supports more efficient, resilient and integrated power systems. This is critical for Singapore’s long-term energy strategy, its transition to low-carbon energy grids and the region’s increasing need for sustainable power delivery.

Why HVDC Matters: A scalable platform beyond the data centre
As AI and high-performance computing workloads scale, traditional alternating current (AC) power systems face inherent limitations. HVDC overcomes these constraints and delivers several transformative benefits:

• Up to 30% overall energy savings compared to conventional AC systems
• A reduction of up to 400 tonnes of CO₂ equivalent (CO₂e) per megawatt per year
• 45% lower copper consumption and a 30–40% smaller power-infrastructure footprint
• The ability to support ultra-high-density racks exceeding 1,000kW, with higher reliability and lower cost
• Native compatibility with renewable power sources able to feed directly to the direct-current system, avoiding inefficient power conversions

“The FutureGrid Accelerator is a strategic investment in Singapore’s long-term digital leadership,” said Bruno Lopez, President and Group Chief Executive Officer, ST Telemedia Global Data Centres. “By bringing together global industry leaders like LITEON with local deep-tech talent such as Amperesand, we are building infrastructure that is ready for future AI workloads while pioneering sustainable practices and setting new benchmarks for energy efficiency and carbon-conscious innovation. This initiative reflects our commitment to future-ready technologies and reinforces Singapore’s position as a global Centre of Excellence for advanced sustainable digital infrastructure. It is a bold step forward in shaping the future of data centres and accelerating energy transition across the region.”

Ms Gan Siow Huang, Minister of State for Foreign Affairs & Trade and Industry, said: “The FutureGrid Accelerator demonstrates how industry and academia can work together to drive innovation and strengthen Singapore’s global leadership in cutting-edge technologies. I also welcome STT GDC’s partnerships with ITE and SP, which will add to the suite of training options for the rapidly growing areas of AI and energy-efficient systems.”

The FutureGrid Accelerator will validate HVDC system performance at power loads of at least 325kW, incorporating the latest AI servers. The environment incorporates LITEON’s data centre reference architecture with Amperesand’s Solid State Transformer (SST) technology—an enabling innovation for next-generation HVDC deployment. STT GDC plans to deploy this technology in future data centres in Singapore and progressively scale adoption across its global operations.

“LITEON is committed to advancing the frontier of power management efficiency, and our collaboration with STT GDC and Amperesand is key to establishing the next standard for sustainable AI infrastructure in Asia,” said Jason Tsao, Head of Direct Current Microgrid at LITEON. “By deploying an end-to-end data centre reference architecture and integrated power management system in a live environment with STT GDC and partners, we are validating a high-density, energy-saving solution ready to meet the extreme demands of global technology leaders.”

“The FutureGrid Accelerator underscores NTU’s role as a strategic partner in shaping the future of sustainable AI infrastructure”, said Prof Lam Khin Yong, NTU’s Vice President (Industry). “By integrating cutting-edge HVDC technologies with our research capabilities and the entrepreneurial drive of NTU spin-offs like Amperesand, we are advancing impactful solutions that can significantly enhance energy efficiency and grid resilience. This collaboration showcases how universities can drive transformative innovations at the intersection of energy, digitalisation and sustainability.”

“Amperesand is obsessed with revolutionising Medium Voltage to critical load power delivery for next-generation AI data centres, defence, and other essential electrified assets. We focus on first principles to achieve market leading power density, efficiency, and reliability,” said Brian Dow, CEO and Co-Founder of Amperesand. “In this era of AI data centre and other critical power systems becoming economic and national security interests for many countries, Amperesand’s MV SST Platform enables in-country cyber-secure controls and data, regionally available supply chains, and low CAPEX intensity local manufacturing. Our solution is an intelligent, universal Medium Voltage power source that works on-and-off grid to improve critical infrastructure resilience as new large electrical loads come online.”

Developing Energy-Ready Skills: Partnerships with ITE, SP, NTU and NUS
STT GDC signed MOUs with the Institute of Technical Education (ITE), Singapore Polytechnic (SP), NTU Singapore and National University of Singapore (NUS). These partnerships will benefit more than 8,000 Singaporeans over five years through industry-aligned training in AI infrastructure and sustainable energy systems. This ensures the scaling of HVDC—and the broader energy transition—is matched by the transformation and availability of skills, jobs and talent development pathways.

Mr Lopez added, “Talent is the decisive enabler as we advance AI and sustainability infrastructure. These partnerships build a skilled workforce needed to strengthen Singapore as a global hub for advanced digital and energy systems.”

Key initiatives and impact:

• Building a talent pipeline: STT GDC will provide internship placements across ITE, SP, NTU and NUS over the next five years, with support from Enterprise Singapore. The programme offers immersive, hands-on experience in data centre operations and corporate functions such as IT, sustainability, finance and marketing, supported by mentoring from industry professionals. In addition, STT GDC will offer 100 sponsorships for Data Centre Foundation Certificate (DCFC®) offered by EPI, a global certification body for data centre facilities, data centre operations and industry professionals, accelerating entry into the sector.
• Developing industry-ready talent with ITE: The collaboration with ITE will benefit approximately 800 students annually — totalling 2,400 students over three years — from ITE’s engineering and information and communications technology (ICT)-related Higher Nitec and Work-Study Diploma courses. Key initiatives include co-developing industry-relevant curricula for full-time and Continuing Education & Training (CET) courses in data centre operations and sustainability; deploying a data centre virtual reality system at the ITE Extended Reality Centre for immersive training; supporting lecturer attachments and student internships; and enabling students to pursue the sponsored DCFC® course.
• Sustainability leadership with SP: The partnership with SP develops expertise in environmental sustainability and green data centre solutions. Initiatives include joint exploration of green technologies and practices; industry seminars and events to promote sustainable solutions; and targeted programmes for training, mentorship, applied projects and internships.
• Innovation and research leadership with NTU: The partnership with NTU combines cutting-edge joint R&D of solutions for AI data centres powered by direct current sources; training, curriculum and talent development for the AI data centre sector; industry and career talks; and internship opportunities across STT GDC’s group of companies.
• Graduate pathways with NUS: STT GDC’s collaboration with NUS supports accessible entry points for graduates through internships, training opportunities and ongoing career and industry engagement to raise awareness of digital infrastructure pathways.

Hashtag: #STTelemedia

https://www.sttelemediagdc.com/

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About ST Telemedia Global Data Centres

ST Telemedia Global Data Centres (STT GDC) is one of the fastest-growing data centre providers with a global platform serving as a cornerstone of the digital ecosystem that helps the world to connect. Powering a sustainable digital future, STT GDC operates across Singapore, the UK, Germany, Italy, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia and Vietnam, providing businesses an exceptional foundation that is built for their growth anywhere. For more information, visit https://www.sttelemediagdc.com/

Appendix: Partner Quotes

Mr Peter Lam, Chief Executive Officer, Institute of Technical Education (ITE): “At ITE, our focus is on equipping our students with future-ready skills for Singapore’s evolving economy. Through the partnership with STT GDC, our students gain valuable real-world training and exposure to advanced tools in data centre operations. This strengthens our efforts to prepare career-ready students and develop talent for Singapore’s growing digital infrastructure sector.”

Mr Soh Wai Wah, Principal and CEO of SP: “Singapore Polytechnic is committed to developing a future-ready workforce that can support Singapore’s growing demand for sustainable and resilient data centre operations. This partnership with STT GDC brings together our strengths in training, applied learning and industry collaboration to nurture talent in environmental sustainability and green solutions for data centres. Through co-developed programmes, mentorship, student projects and internships, we will build deeper capabilities and broaden pathways for learners to contribute to this important sector. SP looks forward to advancing this effort with STT GDC to support Singapore’s long-term industry and sustainability goals.”

Professor Lam Khin Yong, Vice President (Industry), Nanyang Technological University: “STT GDC is a partner that shares our commitment to advancing impactful research and developing future-ready talent. Leveraging NTU’s strengths in artificial intelligence, energy-efficient systems and translational innovation, this partnership will accelerate the co-development of next-generation AI data centre technologies while providing our students and researchers with valuable real-world experience. Together, we are helping to build a robust pipeline of skilled professionals who will support Singapore’s ambitions in sustainable and AI-driven digital infrastructure.”

Ms Joan Tay, Senior Director, NUS Centre for Future-ready Graduates: “NUS’ partnership with STT GDC is timely, as demand grows for skilled professionals to manage complex, high-density AI infrastructure. Through internships, training, industry engagement and access to recognised certification, we bridge education and industry to equip students with the skills and experience needed to thrive in today’s fast-evolving digital infrastructure space.”

The event highlighted key developments shaping international trade flows, including geopolitical tensions, evolving sourcing strategies, capacity dynamics, and cost developments across air and sea freight markets. The discussions also underscored the growing importance of structured Supply Chain Optimization as companies adapt their logistics networks to changing market conditions.

“After several years of volatility, the air freight market is gradually moving toward a more balanced environment,” said Daniel Chua, Head of Air Freight, Air & Sea Logistics Asia Pacific at Dachser. “While demand fundamentals remain positive, careful capacity planning and realistic forecasting will be increasingly important as the market continues to normalize.”

In air freight, Dachser expects demand in 2026 to grow at a single-digit rate, supported by moderate capacity expansion and a normalization of rate patterns. While stable yields are anticipated, growth will continue to be driven by e-commerce, electronics – particularly AI-related components – and pharmaceuticals, alongside a structural shift of trade lanes toward Southeast Asia.

In sea freight, Dachser forecasts global demand growth to slow below three percent in 2026, despite continued strength in intra-Asia trade and Asia-Europe volumes. While fleet growth remains significant, supply and demand are relatively balanced, supported by blank sailings and vessel scrapping. Freight rates are expected to stabilize into early 2026, although uncertainty remains due to high operating costs and ongoing geopolitical developments.

“Even as rates soften, the market remains far from predictable,” said Eunice Yu, Head of Ocean Freight, Air & Sea Logistics Asia Pacific at Dachser. “Flexibility, diversified routing options, and realistic lead-time planning are essential for building resilient supply chains in the year ahead.”

Beyond outlooks: enabling resilience through Supply Chain Optimization

Beyond market analysis, Dachser sees that supply chains increasingly depend on structured, data-driven planning by taking a Supply Chain Optimization approach, which supports customers in analyzing, modeling, and redesigning logistics networks based on real operational data.

Philipp Ramsbacher, Team Leader of Supply Chain Optimization at Dachser says, “By applying Supply Chain Optimization with data-driven simulation, Dachser enables customers to evaluate scenarios, align stakeholders, and develop optimized and implementable supply chain solutions. These solutions help design logistics networks that are robust, efficient, and sustainable.”

Projects showcased during the event demonstrated measurable improvements, including cost savings, reduced CO₂ emissions, and enhanced delivery performance, underscoring the value of a structured Supply Chain Optimization approach.

With integrated air, sea, and contract logistics solutions and its strong presence across Asia Pacific as well as a well-established European road logistics backbone, Dachser continues to support customers navigate changing market conditions while strengthening long-term supply chain performance.

Hashtag: #Dachser

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About Dachser

Dachser, a family-owned company headquartered in Kempten, Germany, provides transport logistics, warehousing, and customized services in two business fields: Dachser Air & Sea Logistics and Dachser Road Logistics. The latter consists of two business lines: Dachser European Logistics and Dachser Food Logistics. Comprehensive contract logistics services and industry-specific solutions round out the company’s range. A seamless shipping network—both in Europe and overseas—and fully integrated IT systems ensure intelligent logistics solutions worldwide.

Thanks to some 37,300 employees at 433 locations all over the globe, Dachser generated consolidated net revenue of approximately EUR 8 billion in 2024. The same year, the logistics provider handled a total of 83.2 million shipments with a tonnage of 44.1 million metric tons. Country organizations represent Dachser in 43 countries. For more information about Dachser, please visit dachser.com

In the DACHSER magazine, you will regularly find up-to-date reports, articles, and interviews on topics that concern us today and tomorrow: magazine.dachser.com

3,500 Companies Recognized; Support for Working Caregivers Emerges as New Benchmark for Friendly Workplaces

HONG KONG SAR – Media OutReach Newswire – 22 January 2026 – 22 January 2026 – The Hong Kong Council of Social Service (HKCSS) held the 2024/25 Caring Company Scheme Recognition Ceremony today at the Hong Kong Convention and Exhibition Centre. Mr. Chris SUN Yuk-han, JP, Secretary for Labour and Welfare of the Hong Kong Special Administrative Region, attended as the Guest of Honour. This year, a total of 3,500 caring companies and organisations were recognised.

For the first time, HKCSS released the major findings from the Caring Business Achievements Overview, providing an in-depth look at corporate trends in addressing social issues such as population ageing, workforce challenges, and climate change across four key pillars: Partnership, Social, Economic, and Environmental Sustainability.

Mr. Chris SUN Yuk-han, JP, Secretary for Labour and Welfare of the Hong Kong Special Administrative Region, congratulated the businesses and organizations recognized by the Caring Company Scheme. He emphasized that building a compassionate society requires collaboration with the business community, which plays a vital role alongside government and non-governmental efforts. By prioritizing employee welfare, employers not only uplift families but also drive growth, attract talent, and foster mutual benefits. Mr. SUN called upon the business sector to engage more proactively in this initiative, fostering a collective commitment to building a more caring society for all.

24 Years of Deep-Rooted Partnership: 28% of Collaborations Last 10 Years or More

The Caring Company Scheme has been running for 24 years. The Revd Canon the Hon. Peter Douglas KOON, SBS, JP, Chairman of HKCSS, stated in his speech: “The Scheme underwent a significant revamp recently to localise international sustainability frameworks. Through our inaugural data analysis, we can observe the business sector’s overall performance in tackling challenges like population ageing and climate change. We hope these trends will guide companies to transform a culture of care into concrete business decisions.”

Data indicates that business-social partnerships have built a solid foundation. Over 70% of companies have maintained partnerships with community partners for three years or more, while 28% have sustained collaborations for over a decade, reflecting a commitment to long-term stability in cross-sectoral collaboration.

New Frontier in the Workplace: Support for Working Caregivers Emerges as a Key Focus

Corporate performance in supporting caregivers has become a focal point. Data reveals that over 80% of companiess have popularised flexible work arrangements, and 104 companies received special “Caregiver-Friendly” commendations for their outstanding support measures this year.

Hon Grace CHAN Man-yee, Chief Executive of HKCSS, observed several innovative cases: “Some companies have implemented eight weeks of fully paid adoption leave, five days of leave for only-child caregivers, and even ‘Grandchild Leave’. Others provide patient companion service. Supporting caregivers does not necessarily require massive financial investment; as long as it starts from the employees’ needs, the possibilities for caring business are endless.”

Five Key Recommendations: From “Ad Hoc Actions” to “Policy Integration”

While companies excel in charitable donations and active participation, there is room for improvement in environmental data tracking (currently at approximately 30%) and workplace diversity. Consequently, HKCSS proposes five key recommendations:

1. Deepen Caring Standards: Treat the Caring Company Scheme indicators as operational benchmarks to establish a systematic socially responsible business model.
2. Promote Professional Sharing and Responsible Procurement: Encourage management to join NGO boards as volunteers to provide professional support and integrate NGO products into corporate procurement supply chains.
3. Build Diverse and Inclusive Workplaces: Actively employ disadvantaged groups to tap into new talent pools and implement flexible work to support working caregivers.
4. Sustain Investment in Talent Development: Recognize talent as a driver of economic growth, enhance staff training, and strengthen mental health support.
5. Initiate Data-Driven Management: We recommend that companies immediately start tracking data related to sustainability performance to ensure that social initiatives are measurable and sustainable.

In 2024/25, the Caring Company Scheme received over 4,300 applications. Ultimately, 3,500 companies and organisations were recognised the Caring Company and Caring Organisation logos, comprising large corporations (42%), SMEs (51%), and organisations (7%). HKCSS emphasised that the data release aims to establish a long-term mechanism to guide the business sector in finding room for improvement and addressing future social challenges through collaboration.

Hashtag: #TheHongKongCouncilofSocialService #HKCSS #theCaringCompanyScheme #Caregiver-Friendly

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

The inauguration was attended by national and local government leaders, including Cristina Roque, Secretary of the Department of Trade and Industry; Pamela Baricuatro, Governor of Cebu Province; Ace Durano, Cebu Provincial Administrator; Nito Durano, Mayor of Danao City; and Carmen Durano, Vice Mayor of Danao City.

Milestone Facility for a High-Growth Region

The Danao facility is the fourth—and largest—Jollibee Group commissary in Cebu and its first multi-brand, state-of-the-art commissary in the Philippines. It comes at a time of accelerating economic momentum in VisMin, driven by a strong tourism rebound, the rise of BPO hubs, expanding agribusiness exports, and growing manufacturing clusters—factors that continue to drive employment, consumer spending, and demand across the region.

Outfitted with advanced automation and integrated systems, the commissary is designed to support increasing demand across multiple Jollibee Group brands while generating efficiencies by consolidating equipment and production capabilities. This allows the Group to scale responsibly while upholding its standards for food quality, consistency, and operational excellence.

Supporting Brand Expansion and Same-Store Growth

The Danao Commissary supplies key ingredients and products for the Group’s major brands, including Jollibee, Chowking, Mang Inasal, Greenwich, Red Ribbon, and Burger King. These brands continue to expand their store networks in VisMin while sustaining same-store sales growth.

The facility strengthens the Group’s supply chain by supporting distribution centers serving Cebu, Iloilo, Bacolod, Zamboanga, Cagayan de Oro, and Davao, as well as select areas in Luzon—ensuring reliability and scalability as the company accelerates its nationwide expansion.

Economic Impact

Speaking during the program, Department of Trade and Industry (DTI) Secretary Cristina Roque highlighted the broader economic impact of the investment.

“Every new commissary that the Jollibee Group opens represents more jobs, more security, and more growth for our local industries,” Roque said. “As we open more commissaries, we are also encouraging more investments in our country while strengthening our supply chain.”

Speaking at the inauguration, Joseph Tanbuntiong, Chief Executive Officer of Jollibee Group Philippines and Global Head of Jollibee Brand, underscored the strategic importance of the new facility to both the company’s domestic and global growth.

“The opening of the Danao Commissary is both a reflection of our journey and a new beginning,” Tanbuntiong said. “Accelerating our growth by building on the strong momentum in Visayas and Mindanao is critical to our Philippine business.”

The investment also highlights the Jollibee Group’s confidence in Cebu as a strategic hub for manufacturing and logistics.

“This commissary underscores our confidence in Cebu—its people, its capability, and its role in our growth today and in the long term,” he added.

Community Impact and Sustainability

Beyond strengthening operational capacity, the Danao Commissary is expected to deliver shared value for local communities, generating close to 500 jobs, with over 60% of the workforce coming from Danao City. At full capacity, the commissary will create 800 jobs.

Sustainability features were integrated into the facility’s design and operations in line with the Jollibee Group’s Joy for Tomorrow agenda. From Day 1 of commercial operation, the Danao Commissary operates on 99% renewable electricity from geothermal sources. It is also equipped with roof-mounted solar panels, rainwater-harvesting systems, energy-efficient equipment, and wastewater treatment systems—supporting responsible, future-ready growth.

Tanbuntiong said the inauguration marks the beginning of a shared journey among stakeholders involved in the project.

“The success of the Danao Commissary is a shared success—for Danao, for Cebu, and for the nation. Together, we are building a stronger, more inclusive, and more sustainable future.”

Hashtag: #Jollibee

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

About Jollibee Group

Jollibee Foods Corporation (PSE: JFC) (the “Company”) is one of the world’s fastest-growing restaurant companies, driven by its purpose of spreading joy through superior taste. It manages and operates a portfolio that includes 19 brands (the “Jollibee Group”) with over 10,000 stores and cafés across 33 countries.

The Jollibee Group’s portfolio includes nine (9) wholly-owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger and Tim Ho Wan), five (5) franchised brands (Burger King, Panda Express, Yoshinoya, Common Man Coffee Roasters, and Tiong Bahru Bakery in the Philippines), and ownership stakes in other key brands like The Coffee Bean and Tea Leaf (80%), Compose Coffee (70%), SuperFoods Group that operates Highlands Coffee (60%), and bubble tea brand Milksha (51%). The Company also has membership interests in Tortazo, LLC, along with Chef Rick Bayless, for Tortazo in the U.S. and in Botrista, a leader in beverage technology.

The Jollibee Group’s global sustainability agenda, Joy for Tomorrow, underscores its commitment to sustainable business practices across food safety, employee welfare, community support, good governance, and environmental responsibility, among others. These focus areas are aligned with the United Nations Sustainable Development Goals (UN SDGs).

The Company has been recognized as the Philippines’ Most Admired Company by the Asian Wall Street Journal, named one of Asia’s Fab 50 Companies, and listed among Forbes’ World’s Best Employers and Top Female-Friendly Companies. The Company is also a four-time Gallup Exceptional Workplace Award recipient and featured in TIME’s World’s Best Companies and Fortune’s Southeast Asia 500 List.

To learn more about Jollibee Group, visit www.jollibeegroup.com

Tourists flock to open factories offering facility tours and hands-on craft experiences

NIIGATA PREFECTURE, JAPAN – Media OutReach Newswire – 21 January 2026 – Located close to the heart of Niigata Prefecture, the Tsubame-Sanjo area is a traditional Japanese mecca of craftsmanship with a 600-year history dating back to the Muromachi period, when metal casting first flourished here. It is about two hours from Tokyo by bullet train. Many products beloved both in Japan and around the world are born here, from kitchen knives and Western-style cutlery to tools and outdoor gear. To preserve the techniques behind these diverse products, the central region situated around Tsubame-Sanjo has established initiatives that include certifying highly skilled artisans as Niigata Ken-O Meisters.

But Tsubame-Sanjo’s appeal extends far beyond technical excellence. Here, a distinctly Japanese philosophy thrives among craftspeople who finish each product with the end user in mind, infusing their work with warmth and care. Take the knives from Hinoura Hamono Koubou, for example. This blacksmith workshop uses proprietary methods grounded in scientific research, achieving both exceptional edge retention and ease of use. Blades that fuse over a century of forging expertise with innovative thinking have earned acclaim both at home and abroad. Meanwhile, Gyokusendo, a copperware house with over 200 years of history, continues to practice tsuiki doki, the traditional art of hand-hammering copper plates into elegant vessels. These pieces, which marry the beauty of handcraft with functional design, have won admirers from around the world.

From Nails to Knives: The History and Evolution of Craftsmanship
Tsubame-Sanjo’s metalworking tradition traces its origins to Japanese nail-making some 400 years ago. Frequent flooding from the Shinano and Igarashi rivers created strong demand for nails to rebuild structures in this region. These nails found use not only in homes, but also in shrines, temples, and ships. As they circulated widely, nail-making became one of the foundations of local metalworking. Over time, production expanded to farming implements such as hoes and shears, then to kitchen knives, Western-style tableware, and other everyday tools, the industry evolving with each era’s needs. After the Meiji period, stainless steel cutlery and tool manufacturing took off. Today, the region boasts such a diverse concentration of metalworking expertise that locals say there’s nothing that cannot be made. Tsubame City and Sanjo City are home to thousands of small- and medium-sized enterprises, each bringing its own distinctive techniques and designs to global markets. In these communities, a guiding philosophy endures: don’t simply inherit tradition; move forward by improving it. While honoring time-tested techniques, local manufacturers embrace new materials and contemporary design, ensuring constant evolution.

Where to Experience Factory Tours and Hands-On Craftsmanship
Tsubame-Sanjo has seen a growing number of open factories, manufacturing facilities that welcome the public for tours, hands-on experiences, and product sales. Small workshops once overlooked as tourism assets are now celebrated as experiential destinations, serving as venues where artisans pass their skills and philosophy on to the next generation. Here are some of the most popular spots and events.

Tsubame-Sanjo KOUBA no SAITEN
This major annual event takes place every autumn. Factories normally closed to the public open their doors, with craftspeople personally guiding visitors through production floors. Beyond factory tours, the festival features workshops and product sales, creating a region-wide celebration of open manufacturing.

The 13th festival was held October 2–5, 2025: https://kouba-fes.jp/en

Tsubame Industrial Museum
A facility offering hands-on experiences with Tsubame’s diverse crafts. The museum houses a workshop where visitors can try oxidation coloring on spoons, crafting tin sake cups, and hammering decorative patterns into pure copper thermoses.

Official website: https://tim.securesite.jp/top_en.html

Tsubamesanjo Regional Industries Promotion Center
A hub for regional industry information and tourism services. The center features meeting rooms, a restaurant, and a large hall. Its retail shop, Bussankan, displays and sells approximately 10,000 items from local manufacturers. Designated as a roadside station (Roadside Station Tsubamesanjo Regional Products Center), the facility also offers tax-free shopping for international visitors.

Official website: https://www.tsjiba.or.jp/en/

Gyokusendo Co., Ltd.
Founded in 1816. Renowned for its tsuiki doki (hand-hammered copperware) workshop. Visitors can watch up close as artisans hammer copper plates into finely crafted vessels. The workshop welcomes 7,000 visitors annually, roughly one-quarter of whom come from overseas.

Official website: https://www.gyokusendo.com/en/openfactory

Hinoura Hamono Koubou
A blacksmith workshop with a century of history in Sanjo City, Niigata Prefecture. Master craftspeople work with fire and steel, upholding tradition while pursuing new challenges. Visitors who book in advance can receive a guided tour from Tsukasa Hinoura, named a Contemporary Master Craftsman this year.

Official website: https://hinoura.com/en/

FACTORY FRONT
A curated shop in the factory district of Tsubame-Sanjo, Niigata, where visitors can see, touch, and experience local craftsmanship firsthand.

Official website: https://factoryfront.com/(available only in Japanese)

*For information on other open factories:
https://www.city.sanjo.niigata.jp/sanjonavi/see_do/craftmanship/openfactory.html
(available only in Japanese)
Hashtag: #NiigataPrefecture

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

This recognition marks the third consecutive year Vinova has been named among Singapore’s fastest-growing companies, following its previous rankings in 2024 and 2025

A Track Record of Consistent Growth

Over the past 15 years, Vinova has earned a strong reputation for digital craftsmanship, delivering high-end mobile and web solutions alongside enterprise-level applications. This sustained growth has been driven by a clear strategic focus, disciplined execution, and a strong commitment to quality.

Our unwavering focus on quality and innovation enables us to serve over 300 clients worldwide. From fast-scaling startups to established Fortune 500 corporations, each benefiting from our dedication to delivering cutting-edge solutions with Singapore-standard excellence.

As we scale, Vinova remains committed to integrating ESG principles into our core operations, striving toward a Net Zero carbon footprint to ensure our innovation contributes to a sustainable future.

“We are honored to be recognized among Singapore’s fastest-growing companies once again in 2026,” said Mike Nguyen, CEO of Vinova. “This achievement belongs to our dedicated team, whose commitment and professionalism continue to drive our growth. We remain focused on delivering Singapore-standard excellence to our clients and partners worldwide.”

Strategic Expansion and Global Presence

In 2024, from our headquarter in Singapore, we took a significant step forward by successfully establishing operations in Thailand, strengthening our presence across the APAC region. At the same time, we are actively expanding our global reach through high-impact strategic partnerships.

These alliances seamlessly combine our signature artisan design standards with large-scale engineering capabilities, while ensuring Vinova continues to lead and innovate at the forefront of the international IT industry.

Hashtag: #Vinova, #Business, #Technology

https://vinova.sg/
https://vn.linkedin.com/company/vinova-sg?trk=ppro_cprof
https://www.facebook.com/vinova.sg

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

VINOVA Pte Ltd.

Vinova is a leading digital transformation agency and technology solutions provider based in Singapore. With a focus on crafting beautiful, functional, and impactful digital products, Vinova offers services in UX/UI design, web and mobile application development, and enterprise system integration. Known for its agile methodology and client-centric approach, Vinova helps businesses innovate and excel in the digital age.

SINGAPORE – Media OutReach Newswire – 19 January 2026 – Madame Tussauds Singapore hosted an exclusive fan meet event on 16 January 2026, featuring international music and entertainment icon AGNEZ MO, bringing fans up close with the superstar in an intimate and memorable setting.

The special appearance marked a meaningful reunion between AGNEZ MO and her wax figure, which was first unveiled at Madame Tussauds Singapore in 2022. The fan meet offered a rare opportunity for fans to reconnect with the multi-talented artist while celebrating her continued global success.

Hashtag: #MerlinEntertainments #MadameTussaudsSingapore

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Madame Tussauds Singapore

Madame Tussauds has been inviting people to walk the red carpet and get closer to the revered – and feared – for over 250 years. With 22 attractions in the world’s top destination cities, we are dedicated to giving millions of visitors the opportunity to mingle with the mighty from A-listers to music legends, heroes of sport, to infamous world leaders. Today, we continue to partner with the global icons of a generation to create astonishing lifelike figures from sittings and offer exciting and interactive experiences to ensure guests have never felt closer to fame.

Merlin Entertainments is a world leader in branded entertainment destinations, offering a diverse portfolio of resort theme parks, city-centre gateway attractions and LEGOLAND Resorts which span across UK, US, Western Europe, China and Asia Pacific. Dedicated to creating experiences that inspire joy and connection, Merlin welcomes more than 62 million guests annually to its growing estate, with over 140 sites across 23 countries. An expert in bringing world-famous entertainment brands to life, Merlin works with partners including the LEGO Group, Sony Pictures Entertainment, Peppa Pig, Dreamworks and Ferrari to create destinations where guests can immerse themselves in a wide array of brand-driven worlds, rides, and uplifting learning experiences. See www.merlinentertainments.biz for more information.

ESET MDR delivers industry-leading real-time detection and a mean-time-to-respond (MTTR) of 6 minutes to keep businesses secure

SINGAPORE – Media OutReach Newswire – 19 January 2026 – ESET, a global leader in cybersecurity solutions, today announced the launch of two Managed Detection and Response (MDR) subscription tiers: ESET PROTECT MDR for small and medium businesses (SMBs) and ESET PROTECT MDR Ultimate for enterprises in Singapore.

Bridging the gap with MDR

ESET PROTECT MDR delivers a comprehensive cybersecurity package, offering 24/7/365 superior protection. This includes modern protection for endpoints, email, and cloud applications, vulnerability detection and patching, and managed threat monitoring, hunting, and response. For enterprises, ESET PROTECT MDR Ultimate offers continuous proactive protection and enhanced visibility, coupled with customised threat hunting and remote digital forensic incident response assistance.

ESET’s APAC SMB Cybersecurity Report 2024 revealed that 49% rate lacking a dedicated cybersecurity team and 52% rated keeping up with the latest threats as one of the top three cybersecurity challenges in Singapore. 31% also cited alert fatigue as the biggest challenge. Incidentally, APAC also faces the largest shortage of cybersecurity experts in the world. These highlight the urgent need for skilled cybersecurity professionals and managed services that can help bridge the country’s growing talent gap. ESET’s MDR services ensure organisations of all sizes and cybersecurity maturity to stay one step ahead of all known and emerging threats, effectively closing the cybersecurity talent gap, and facilitating expert consultations for incident management and containment in a fully managed experience.

ESET MDR delivers a remarkable 6-minute Mean Time to Respond (MTTR) — the fastest in the industry*. In comparison, the median time for organizations to detect a breach is 24 days**, leaving critical systems and data exposed for weeks. Every hour that a breach goes undetected dramatically increases the risk of data loss, operational disruption, and financial damage.

“Cyber threats are becoming more sophisticated and more time-critical, especially in highly connected digital economies like Singapore,” said Pamela Ong, Country Manager of Asia and Singapore at ESET. “Our AI-powered MDR services combine automation, human expertise, and global threat intelligence to help organisations move beyond reactive security. The ability to detect and respond within minutes can make the difference between a contained incident and a major breach.”

ESET’s MDR services Meet the Unique Challenges of MSPs

ESET recognises the growing pressures facing MSPs who must balance the critical task of securing clients’ complex IT environments with their own business growth and operations. With threat actors going heavy on supply-chain attacks and abusing MSP tooling, MSPs too find themselves fixed in the crosshairs of cybercriminals. Simply put, MSPs are not only potential victims, but also potential accessories to a crime. To help MSPs fulfill their security potential, ESET’s MDR is also designed to be deployed in an MSP environment with a single solitary security service, available 24/7 that help MSPs to secure themselves as well as their clients.

For more information, please visit www.eset.com/sg

*Based on publicly available information as of 1 October 2025.
**Verizon 2025 Data Breach Investigations Report
Hashtag: #ESET

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

About ESET

ESET® provides cutting-edge digital security to prevent attacks before they happen. By combining the power of AI and human expertise, ESET stays ahead of known and emerging cyberthreats — securing businesses, critical infrastructure, and individuals. Whether it’s endpoint, cloud, or mobile protection, our AI-native, cloud-first solutions and services remain highly effective and easy to use. ESET technology includes robust detection and response, ultra-secure encryption, and multifactor authentication. With 24/7 real-time defense and strong local support, we keep users safe and businesses running without interruption. An ever-evolving digital landscape demands a progressive approach to security: ESET is committed to world-class research and powerful threat intelligence, backed by R&D centers and a strong global partner network. For more information, visit www.eset.com or follow us on LinkedIn, Facebook, and X.

By Ashok Nilakantan Ayers When India’s finance minister Ms Nirmala Sitharaman rises to present the 7th Union Budget on February 1, a record of sorts, the moment will carry an uncommon weight. This is no routine fiscal exercise, no mere balancing of columns and commas. Instead, the budget is being cast — by industry leaders, […]

The article 2026-27 Budget Offers Modi Govt A Great Opportunity To Reshape Strategy appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

This is the fifth edition of the Hong Kong Economic Policy Green Paper, released by HKU Business School, with the aim of providing recommendations on how Hong Kong can effectively tackle these challenges.

HKU Business School today unveils the Hong Kong Economic Policy Green Paper 2026. From left: Prof. Huiyin Ouyang, Associate Professor in Innovation and Information Management of HKU Business School, Prof. Dragon Tang, Professor in Finance in HKU Business School, Professor Hongbin CAI, Dean and Chair of Economics of HKU Business School, Prof. Richard Wong, Provost and Deputy Vice-Chancellor of The University of Hong Kong and Director, Hong Kong Institute of Economics and Business Strategy, Prof. Heiwai Tang, Associate Vice-President of The University of Hong Kong and Associate Dean of HKU Business School, and Dr. Tingting Fan, Principal Lecturer in Marketing of HKU Business School.

Prof. Richard Wong, Provost and Deputy Vice-Chancellor of The University of Hong Kong and Director, Hong Kong Institute of Economics and Business Strategy said, “This Green Paper was released after months of rigorous research by the scholars from HKU Business School. Grounded in an academic perspective and guided by a pragmatic, problem-solving approach, we have conducted objective analyses and in-depth investigations into core issues and real-world challenges currently facing Hong Kong’s development in political and economic operations, people’s livelihood, and industrial upgrading. Our aim is to provide the Government and relevant authorities with valuable insights and actionable policy recommendations.”

Professor Hongbin Cai, Dean and Chair of Economics of HKU Business School, said, “As a ‘super-connector’ bridging China and the world, Hong Kong’s unique role remains indispensable. Looking ahead, Hong Kong must deeply integrate into China’s national development plans, and also take a more prominent role on the international stage, with an in-depth understanding of the global market and active engagement with its international collaborators.

With campuses in Beijing, Shanghai, and Shenzhen, and an expanding presence in Vietnam and Europe, HKU Business School embodies our unique proposition: deeply rooted in Hong Kong, fully engaged with the Chinese Mainland, and truly international. This year’s Green Paper reflects our dedication to inspiring solutions based on rigorous research. As a world-class institute of higher education, we are committed to enabling Hong Kong to further unleash its core values and usher in a new era of high-quality development.”

Prof. Heiwai Tang, Associate Vice-President of The University of Hong Kong and Associate Dean of HKU Business School, added, “This Green Paper features research papers from ten teams of scholars with diverse backgrounds and varied expertise. Based on profound insights into Hong Kong’s development, they offer unique and targeted policy recommendations, building a rich and multifaceted framework of issues for the Green Paper. At the same time, behind these research achievements lies the scholars’ deep affection for and sense of responsibility toward Hong Kong.”

Regarding how digital technology can boost Hong Kong’s trade finance, he emphasised: “Both data and industry feedback clearly demonstrate the core value of trade finance. However, we need more synergy in the trade finance ecosystem and to catch up in digitisation. To address this, we must strengthen the governance and standard promotion of digital trade platforms and tools, deepen the cross-border interoperability of trade data, expand the functions of the Hong Kong Export Credit Insurance Corporation, focus on high-value-added trade enterprises, extend the coverage of Free Trade and Double Taxation Avoidance agreements, and promote responsible stablecoin adoption and Renminbi internationalisation.”

Prof. Dragon Tang, Professor in Finance at HKU Business School, stated, “Hong Kong is uniquely positioned to lead in the integration of blockchain technology within green finance, exemplified by our pioneering issuance of the world’s first tokenised green bonds, totalling HKD 6 billion in February 2024. With green finance representing a critical avenue for sustainable development, the global market is projected to grow significantly, emphasising the importance of transparency and trust. To capitalise on this opportunity, we must enhance our blockchain infrastructure, establish clear regulatory standards, and promote cross-border integration with initiatives like Core Climate. By leveraging blockchain’s capabilities, we can significantly reduce costs, improve transparency, and engage a broader investor base, ultimately driving our transition to a sustainable finance future.”

Prof. Huiyin Ouyang, Associate Professor in Innovation and Information Management, HKU Business School, commented on her study, saying, “Two weeks post-implementation of the hospital fee reform, the media reported no significant change in emergency department crowding, which aligns with what our analysis predicted. Overcrowding isn’t simply about patient behaviour – it’s a structural issue. Demographics are shifting, capacity is constrained, and alternative treatment options remain limited. What we now need is a careful, systematic evaluation of the fee changes. Where are vulnerable patients going for care? Are some patients delaying treatment? What unintended effects are emerging? Effective reform requires pairing fee adjustments with expanded primary care access. We can’t solve a capacity problem with pricing alone.”

Dr. Tingting Fan, Principal Lecturer in Marketing at HKU Business School, presented as well, spoke on her study and asked, “Why did Pop Mart go public in Hong Kong but register IP in Singapore? Or why was Molly ‘born’ in Hong Kong but did not go viral from Hong Kong? Why have local companies not managed to turn these homegrown IPs into major business triumphs? Learning from the past and looking forward, Hong Kong can leverage its financial market, legal system, as well as talents to build a comprehensive IP industry infrastructure and become an IP hub.”

The Green Paper includes ten articles; the key points are as follows:

Empowering Merchandise Trade Finance with Digital Technology in Hong Kong
Author: Prof. Heiwai Tang, Associate Vice-President (Global), The University of Hong Kong; Associate Dean (External Relations), HKU Business School; Associate Director, Hong Kong Institute of Economics and Business Strategy; Victor and William Fung Professor in Economics

• Trade is an essential lifeline for Hong Kong; its total merchandise trade was three times the city’s HKD3.2 trillion GDP in 2024. Trade finance is thus equally important, yet research shows that the total loans extended for trade finance have been declining.
• As geopolitical and technological shifts reshape trade, Hong Kong must upgrade its trade finance services. With consumer-goods trade shifting to smaller, more frequent orders and shorter cycles, financial institutions need to streamline approvals and develop flexible products for e-commerce and logistics-driven cash cycles. Banks also need to digitise core processes in fund settlement. The article cautions that platforms directly connecting mainland manufacturers with overseas buyers disintermediate Hong Kong’s traditional hub-and-spoke role.
• To address this, the article suggests the government leverage digital technologies to elevate the adoption of Hong Kong’s digital trade platforms through unifying core digital trade functions. Moreover, speeding up interoperability of trade data platforms with the Chinese Mainland and other economies will enable seamless data exchange.

Rebuilding Hong Kong as the Catalyst to the Greater Bay Area (GBA) Startup Ecosystem
Prof. Alberto Moel, Professor of Practice in Finance, HKU Business School
Prof. Joseph Chan, Associate Professor of Practice in Management and Strategy, HKU Business School; Associate Director, Centre for Innovation and Entrepreneurship

• Offering a quantitative analysis of the evolution of Hong Kong’s startup landscape, the article found that post-2019 activity has slowed, mirroring global venture capital trends, with most failing to grow beyond 50 employees due to scarce late-stage capital despite early-stage availability. While fintech and logistics dominate and AI/blockchain grow quickly, deep tech lags—authors view this as temporary and highlight Hong Kong’s alignment in financial innovation, regtech, and GBA supply chains to attract investment and support corporate transformation.
• To strengthen Hong Kong as the GBA’s premier startup hub and international financial centre, the article recommends nine policies—including fixing funding gaps, closing academia-market divides through industry-focused research for tech transfer, attracting/retaining talent, integrating Northern Metropolis with GBA supply chains, pivoting to high-value services, and drawing large tech platforms to incubate local startups.

The Applications of Blockchain in Green Finance: Hong Kong’s Experience and Opportunities
Author: Prof. Dragon Tang, Professor in Finance, HKU Business School; Associate Director, Centre for Financial Innovation and Development

• The green finance market has entered an important new phase. Hong Kong became the world’s first issuer of sovereign tokenised green bond when it priced an HKD800 million one-year note in February 2023. Despite this, Hong Kong faces several challenges in the practical implementation of using blockchain to advance green finance. This is due to the limited interoperability between blockchain platforms and existing financial infrastructure, which hinders cross-market transactions. Real-time settlement for tokenised assets is also difficult because of scalability constraints.
• The article argues that the future success of blockchain development in green finance will depend on progress in three areas: standardisation, scalability, and security. Clear regulatory frameworks and common technical protocols are needed to provide legal certainty and interoperability across platforms. While collaboration among regulators, technology providers, and energy-market participants can align rules for tokenisation. Blockchain can also connect Hong Kong’s Core Climate platform with overseas counterparts, as cross-border integration is crucial to the inherently international nature of climate finance.

Can Hong Kong be an IP hub for Future Labubu? An Overview of Hong Kong’s IP Industry
Dr. Tingting Fan, Principal Lecturer in Marketing, HKU Business School
Prof. Heiwai Tang, Associate Vice-President (Global), The University of Hong Kong; Associate Dean (External Relations), HKU Business School; Associate Director, Hong Kong Institute of Economics and Business Strategy; Victor and William Fung Professor in Economics

• As Labubu’s success turns the spotlight on the growing importance of the IP industry, the authors propose that this can inspire more creators and businesses to invest in branding, licensing, and cross-border collaborations. This can also attract policymakers’ attention to the emerging IP sector as a key driver of innovation and economic growth.
• To position Hong Kong as a leading regional IP trading centre, the authors recommend that stakeholders—including IP developers, entrepreneurs, and government agencies—coordinate efforts across key areas. These include building a robust IP financing ecosystem, such as through government-issued IP bonds replicating the green finance model; enhancing infrastructure and platforms to support IP development; developing specialised talent and professional services in the IP sector; promoting IP initiatives throughout the Greater Bay Area; and strengthening IP protection alongside a solid legal framework.

Thematic Research: Maximisation of Social Value and Shareholder Value – Insights from Hong Kong-listed Companies Across Sectors
Author: Prof. Sean Chang, Associate Professor of Practice in Finance, HKU Business School

• Through a triangulation research approach, the article examines how social policies, international frameworks, and corporate social responsibility influence a company’s valuation and capital budgeting decisions. Using insights from major Hong Kong-listed companies across nine sectors—spanning transport, utilities, financials, banking, conglomerates, technology, real estate, consumer, and hotel servicing—the research highlights CSR’s role in enhancing long-term firm performance.
• Key findings show that corporate risk assessment, company valuation, and stock performance are significantly influenced by CSR-linked socially responsible investing (SRI) factors. Hong Kong-specific social values, such as equality and sustainability, shape investor preferences, guiding finance managers to tailor solutions and adapt regulatory standards. While conventional metrics remain dominant, incorporating social value boosts long-term firm value by building shareholder trust and mitigating risks; companies can pursue CSR projects financed via SRI bonds to create dual economic and societal benefits.
• The study recommends embedding core values like equality and sustainability into corporate strategies, aligning budgeting processes with social objectives to pinpoint investments yielding both returns and positive impacts, and urging Hong Kong-listed firms to sustain capital budgeting aligned with enduring societal values.

Housing Affordability and Homeownership in Hong Kong, 1985-2023
Mr. Allen W. Huang, Student Researcher, Hong Kong Future Economy Institute
Mr. Alex Ngau, Research Associate, Hong Kong Future Economy Institute
Prof. Michael B. Wong, Assistant Professor in Economics, Management and Strategy, HKU Business School

• Hong Kong’s housing market has grown increasingly unaffordable, hindering upward mobility for younger generations. Main findings from the research reveal that since the 2002 suspension of the Home Ownership Scheme (HOS), homeownership has declined sharply, rendering private housing “impossibly unaffordable” for median-income households. A wide public-private rent gap drives young people to accept lower-paying or part-time jobs to qualify for public rental housing (PRH), distorting labour supply, stifling human capital investment, and fuelling a surge in adult co-living with parents; younger cohorts (born 1980-1999) face far lower access to public housing and ownership than prior generations at the same age.
• Taking Hong Kong Island as an example, between 2003 and 2024, the rent-to-income ratio for a typical 400-sq-ft private unit jumped from 35% to 60% of median household income, peaking at 65% in 2015 and 2019—far exceeding the UN-Habitat and World Bank’s 30% affordability threshold. Public housing rents stayed dramatically lower at just 7%–11% of median household income from 1985 to 2024. For home purchases, it now takes 18.2 years of median income to buy a 500-sq-ft private unit (up from 7.4 years in 2003), placing it in the “impossibly unaffordable” zone per the Demographia International Housing Affordability report, where ≤3.0 years is considered affordable and 9.0+ years is impossibly unaffordable. After the 2002 Home Ownership Scheme suspension, even subsidised HOS units now require 15.8 years of income on Hong Kong Island (up from 7.4 years in 2007), shifting them from moderately unaffordable to severely or impossibly unaffordable in urban cores.
• To reverse these trends, the authors recommend ramping up production of high-quality ownership units, easing resale and leasing restrictions on existing subsidised sale flats to boost residential mobility and enable “trading up” the housing ladder, setting housing price and affordability targets over mere supply goals, and adopting responsive mechanisms to balance demand and supply.

Beyond Crisis Management: Structural Reform for the Overcrowding in Hong Kong’s Emergency Departments
Prof. Huiyin Ouyang, Associate Professor in Innovation and Information Management, HKU Business School
Ms. Yiran Zhang, PhD student, HKU Business School

• Hong Kong’s public emergency departments (EDs) handle over 2.14 million annual attendances. This crisis, exacerbated by an ageing population, results from a structural mismatch: the majority of the attendances are for non-emergency conditions, leading to staff burnout and compromised care.
• The article proposes three comprehensive structural reforms. First, improving operational efficiency with accurate wait time information systems is crucial. Second, increasing the ED fee (categories III–V) aims to divert non-critical patients. Success for this hinges on assumptions about patient responses, particularly how varied population segments will react to the price signal. International evidence raises concerns, showing that higher ED fees can reduce overall utilisation, but with the decrease primarily occurring among price-sensitive groups who may risk delays in receiving serious care. Therefore, for this reform to succeed, the public must have genuine access to alternative care pathways that can accommodate acute but non-emergency needs outside regular business hours, with pricing acceptable to price-sensitive populations. Third, AI can augment the workforce and manage demand (e.g., through telemedicine).
• Ultimately, sustainable reform demands robust evaluation, political courage, and a commitment to address root causes, not just symptoms.

Initial Efforts to Empirically Measure AI Activity and Its Impacts on Hong Kong’s Labour Market
Prof. Alan Kwan, Associate Professor in Finance, HKU Business School
Prof. Mingzhu Tai, Associate Professor in Finance, HKU Business School; Associate Director, Institute of Behavioural and Decision Science
Mr. Zihan Wang, Master student, HKU Business School

• In an effort to empirically measure the impact of AI on Hong Kong’s labour force, the researchers observe that firms with a higher adoption of AI experience lower headcount growth. However, the scale of impact appears small in the city, which could be due to several potential reasons. One of these is the different composition of Hong Kong’s labour force compared with other countries. For instance, Hong Kong has a high proportion of finance or managerial talent, which is harder to displace; the city also features older or more elite workers. On the other hand, much of the impact of AI, particularly generative AI, is on the less elite and younger populations.
• As such, the authors recommend policymakers produce more labour market statistics that track the impact of AI, particularly by occupation. On the rate of AI adoption in Hong Kong through innovation, the authors find that the city is heavily skewed towards research, but not commercialisation. This means that the quality and quantity of academic research is not translating to commercial use. To address this decoupling, the authors propose that the government tweak its existing early-stage startup funding platforms to encourage streamlining and higher utilisation of existing government resources.

The Impact of Generative Artificial Intelligence on Cybersecurity in Hong Kong
Author: Prof. Michael Chau, Professor in Innovation and Information Management, HKU Business School

• As GenAI can produce human-like text, code, images, and audio, cybersecurity crimes have become easier and faster to perpetrate. Not only have data leaks and hacks into security systems led to significant financial losses in Hong Kong, but they also hurt confidence in the city’s digital infrastructure.
• The article recommends using AI to fortify Hong Kong’s cyber defence, such as using biometric verification and deepfake detection technologies, especially in areas involving critical infrastructure and high financial stakes. It is also important to prevent data leakage and other threats in using GenAI.

Hong Kong’s Next Growth: Pioneering the Web 3.0 Ecosystem
Prof. Yulin Fang, Professor in Innovation and Information Management, HKU Business School; Director, Institute of Digital Economy and Innovation
Mr. Yangchen Mou, PhD student, HKU Business School

• Given the inherent risks in Web 3.0 operational models—most notably within Decentralised Finance (DeFi) systems—striking a balance between fostering the development of the Web 3.0 ecosystem and implementing appropriate regulation to maintain financial stability is and should be a key priority for Hong Kong authorities. To support this, the article categorises the industry into three distinct systems—Centralised Finance (CeFi), the integration of Traditional Finance and Centralised Finance (TradFi-CeFi), and Decentralised Finance (DeFi)—and put forward targeted policy recommendations for each.
• For the CeFi system, the authors recommend creating a more conducive environment for development by refining specialised auditing frameworks, promoting a local Web 3.0 talent certification system, and introducing global leading CeFi institutions to the local market. For the TradFi-CeFi system, they suggest upgrading audit standards for traditional firms holding digital assets and upskilling traditional finance professionals with Web 3.0 expertise. In contrast, for the DeFi system, which carries higher inherent risks and poses greater regulatory challenges, the authors advise authorities to adopt a prudent stance while keeping monitoring its latest technological developments.

The full version of the Green Paper can be accessed here. Hi-res photos are available here.

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About HKU Business School

Established in 2001, HKU Business School is one of the youngest and most dynamic members of The University of Hong Kong (HKU). The School strives to nurture first-class business leaders and foster academic and relevant research that serves the needs of Hong Kong, China and the rest of the world in the new Asia-led economy. As a top international business school, the School has established its place as a globally impactful institution that leads the way through timely thought leadership, pioneering research, and educational excellence. Deeply rooted in Hong Kong and fully engaged with China, the School’s world-class faculty equip students with global knowledge and perspectives.

HKU Business School offers business education across a full range of disciplines, while achieving remarkable growth in faculty strength and research capabilities. The School ranks Asia’s No.1 in Financial Times’ Aggregated Research Ranking for two consecutive years, 2024 and 2025, while the University of Hong Kong ranked 11^th in the world and No. 1 in Asia according to the QS World University Rankings 2026. The School has strategic partnerships with world-renowned universities and corporate partners, providing market-oriented content, superior learning, and instrumental resources.

To better serve our students and alumni in various cities and regions, and to facilitate collaboration opportunities with business communities around the globe, HKU Business School has established a unique international network that extends to Beijing, Shanghai, Shenzhen and Ho Chi Minh City.

HKU Business School is fully accredited by the European Quality Improvement Systems (EQUIS) and the Association to Advance Collegiate Schools of Business (AACSB).

Visit us at https://www.hkubs.hku.hk/

Based in Singapore, Singh will leverage his extensive experience across some of Asia’s most dynamic markets to deliver innovative approaches to Risk Capital and Human Capital for Aon’s enterprise and large multinational clients in Asia. Reporting to Craig Torgius, chief client officer and head of enterprise clients, Asia Pacific, Singh will focus on building strategic partnerships and unlocking new opportunities supporting clients to achieve their growth ambitions.

“Kulshaan brings a rare blend of strategic acumen with strong execution ability, global insight and local expertise to our Asia Pacific team,” said Torgius. “His ability to lead transformation, foster collaboration and deliver results across diverse industries will be invaluable in helping clients navigate an increasingly complex risk landscape.”

With over two decades of experience in consulting and executive leadership, Singh held prominent roles including managing director for talent solutions for southeast Asia at Aon, CEO Mercer Singapore and chief people officer at Charoen Pokphand Group. Most recently, as the global group chief people officer at Thai Union Group, he spearheaded large-scale transformation initiatives including organisation design, succession and leadership alignment.

Reflecting on his new role, Singh said, “I feel privileged and excited to be back at Aon and look forward to working closely with Aon’s global and local teams to deliver solutions that help clients navigate complexity and interconnected challenges.”

Read more about Aon’s capabilities in Asia Pacific here.

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About Aon

Aon plc (NYSE:AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses.

Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.

Disclaimer
The information contained in this document is solely for information purposes, for general guidance only and is not intended to address the circumstances of any particular individual or entity. Although Aon endeavours to provide accurate and timely information and uses sources that it considers reliable, the firm does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose of any content of this document and can accept no liability for any loss incurred in any way by any person who may rely on it. There can be no guarantee that the information contained in this document will remain accurate as on the date it is received or that it will continue to be accurate in the future. No individual or entity should make decisions or act based solely on the information contained herein without appropriate professional advice and targeted research.

Beyond Balance: The Next Regime

HONG KONG SAR – Media OutReach Newswire – 13 January 2026 – Today, KGI has released its 2026 Global Market Outlook, covering markets in the US, Mainland China, Hong Kong, Taiwan, and Singapore.

After a turbulent year of trade disruptions and policy uncertainty under President Trump, investors face new questions. China has unveiled its 15th Five-Year Plan, as policymakers aim to support domestic growth amid global challenges. The market outlook for 2026 is shaped by interest rate decisions, economic resilience, and shifting international dynamics.

Under this backdrop, we propose the “LEAD” strategy for 2026:

1. Liquidity Shift
2. Earnings Focused
3. Adding Credit
4. Diversified Assets

Cusson Leung, Chief Investment Officer at KGI, says: “Looking ahead to 2026, investors can adopt a LEAD strategy: L ​​stands for Liquidity Shift, benefiting from a weakening US dollar and interest rate cuts, with funds expected to flow to non-US dollar and Asian currencies; E stands for Earnings Focused, focusing on earnings growth to support valuations and allocating to US, European, and Japanese stocks; A stands for Adding Credit, locking in the credit of leading companies and increasing holdings of A-rated investment grade bonds; and D stands for Diversified Assets, responding to the upward trend in both stocks and bonds by including alternative assets to optimize asset allocation.”

Macro & US Markets
The US economy will experience a more pronounced downturn in 4Q25, which will extend into 1H26, and this will have a negative impact on consumption, slowing investment activity. Nevertheless, AI-driven productivity gains should provide some support, with US GDP growth in 2026 forecast at 2.2%. The eurozone will see moderate growth, with Germany benefiting significantly from fiscal expansion and economic improvement. Japan’s economy will strengthen on domestic demand, aided by additional fiscal stimulus. China has demonstrated resilience under trade protectionism in 2025. With inflation risks easing and labor market risks rising, the US Fed cut the interest rates in September 2025, with a total reduction of 75 bps in 2025, followed by an additional 50-75 bps in 2026.

Regarding US stocks, AI-driven productivity gains and cost reductions should sustain solid profitability, with S&P 500 earnings projected to grow by 13.55% year-on-year (YoY) in 2026. However, higher risk premiums may cap valuation upside, leading us to project a year-end target of 7,650 points. Market performance will reflect risk-driven declines in 1Q26, stabilize and recover in 2Q26, and rally significantly around the midterm elections in 4Q26. By sector, among AI-related themes we favor technology, semiconductors, utilities (on higher power demand), machinery for advanced manufacturing, and industrial REITs. Non-AI beneficiaries include aerospace and defense (on higher military spending), pharmaceuticals (on tariff benefits), and capital market segments (supported by active investment banking). As for fixed income, US economic weakness and Fed rate cuts will drive Treasury yields lower, with 10-year yields expected to fall to 3.5-3.7% by 2Q26. We recommend allocating to US Treasuries or high-rated investment-grade corporate bonds in 1H26, then rotating into high-yield bonds in 2H26 as policy rates and economic conditions reach a bottom.

James Chu, Chairman at KGI Securities Investment Advisory, says: “AI is triggering a new productivity revolution, supporting economic growth and strengthening corporate earnings. While the US economy is expected to slow, a recession remains unlikely, and the short-term impact of tariff policies should gradually fade by the first quarter of 2026. Although the Fed may shift from cutting rates at every meeting to cutting at alternating meetings, the overall environment remains a rate-cutting cycle. In a non-recession backdrop, lower interest rates should continue to support equity market performance.”

Mainland China and Hong Kong Markets
In terms of the macroeconomy, with the conclusion of trade agreements among many countries, risks have subsided. However, due to external drag, China’s GDP growth is expected to slow slightly to 4.6% in 2026. In 2026, investors should focus on four key areas for Hong Kong and mainland China markets: (1) In the consumption sector, domestic demand continued to be the core growth driver, contributing more than half of GDP. As the “trade-in” effect diminishes, the central government is expected to implement the “15th Five-Year Plan” and economic conference plans, launching a new round of subsidies covering culture, entertainment, and sports to continuously boost consumer spending. (2) In the financial market, risk appetite has increased. Given the narrowing spread between bond yields and fixed deposit rates, large amounts of savings are flowing into the capital market seeking returns. The fundamentals of the banking and insurance industries have bottomed out, and the credit structure is accelerating its shift from real estate to supporting the real economy. (3) Regarding the issue of “anti-involution,” the PPI remains weak, and capacity reduction has become a focus. Compared to 2015, this round involves more downstream private enterprises and needs to consider employment, presenting greater challenges. While industry consolidation is expected to be lengthy, the impact is controllable and beneficial for long-term healthy development. (4) Regarding new quality productive forces, this will replace real estate and infrastructure as the main investment focus. Digital infrastructure supports AI and embodied intelligence, and humanoid robots are expected to see commercialization in 2026, “iPhone moment.” Leading companies with core technological autonomy in innovative drugs will enjoy higher valuation premiums.

Overall, we are optimistic on Hang Seng Index. We expect the Federal Reserve’s interest rate cuts to drive fund inflows to the Hong Kong and mainland stock markets. Based on an upward revision of the forward PE ratio to 13.5x and 8% earnings growth, we set a target of 30,000 points for the Hang Seng Index by the end of 2026, representing a potential upside of approximately 14%. As confidence recovers, the investment style is expected to shift from defensive to growth stocks. Recommended 12 stocks: XPeng Motors (9868), UBTECH (9880), Tencent Holdings (700), Alibaba (9988), China Hongqiao (1378), AIA Group (1299), Ping An Insurance (2318), China Merchants Bank (3968), Akeso Biopharma (9926), Pop Mart (9992), Tencent Music (1698), and Sino Land (83).

Cusson Leung, Chief Investment Officer at KGI, says: “2026 marks a crucial turning point for the Chinese economy. While the market anticipates GDP growth to slow to 4.6%, “new quality productive forces,” resembling humanoid robots, is taking over as a new growth engine. The most critical signal in the market is the “awakening” of idle cash—massive savings are flowing from low-interest fixed deposits to the capital market seeking returns. With risk appetite returning and policy support intensifying, now is the time to shift investment strategies from “defensive” to “growth.” Driven by both valuation repair and earnings growth, we are optimistic that the Hang Seng Index will reach 30,000 points, and the allocation value of Hong Kong and mainland China stocks has reappeared.”

Taiwan Market
Compared to the dot-com era bull run, which lasted almost five years, the current AI frenzy has been around for about three years, suggesting that the uptrend is still in its middle phase and could extend through 2026.

AI plays are trading at high PEs, such valuations are backed by strong fundamentals. In fact, the PEG ratio of Taiwan’s AI supply chain has yet to surpass 1x. We estimate that aggregate earnings of AI plays will grow by 21% YoY in 2026, following impressive upticks of 35% in 2024 and 43% in 2025. AI stocks now account for more than 60% of TAIEX earnings, and with the ongoing AI arms race, overall TAIEX earnings growth is projected to accelerate from 14% in 2025F to 20% in 2026.

Although the AI frenzy should keep the bull market intact, volatility will rise in tandem due to: (1) substantial cumulative gains, and the fact that valuations are approaching historic highs; (2) policy and political uncertainty surrounding the US midterm elections; and (3) potential changes in the US Fed’s rate-cut pace. We expect the TAIEX to repeat a “smile-curve” pattern, featuring continued strength in 1Q26, followed by healthy corrections in 2Q-3Q26 before closing the year with a renewed upswing.

We think investors need to pay attention to two major themes. The first is a broad-based product spec upgrade trend across the AI supply chain, which will drive the industry into a new growth phase, with beneficiaries including foundries, GPU and ASIC designers, advanced packaging (such as CoWoS), and ODMs, as well as testing interfaces, memory, thermal solutions, CCL, ABF substrates, PCBs, switches, and power component suppliers amid strong AI computing demand and ongoing GPU platform upgrades. The second is diversification and defensive asset allocation. Innovations in consumer electronics, such as foldable iPhones and smart wearables, will provide growth opportunities, while companies with resilient domestic demand and stable high dividend yields offer a balanced strategy combining growth and income. Overall, investors should strike a balance between growth and resilience against volatility in their portfolios, in the face of market fluctuations.

James Chu, Chairman at KGI Securities Investment Advisory, says: “The solid earnings growth driven by AI and still reasonable valuations form a strong foundation for the ongoing bull market in Taiwanese equities. With AI adoption accelerating across enterprises and consumers, demand for computing power is rising rapidly. Yet supply remains constrained by chip and power bottlenecks, meaning hardware suppliers are likely to face continued shortages through 2026. Taiwan’s AI supply chain is set to remain a key beneficiary, particularly those tied to next-generation specification upgrades.”

Singapore Market
In 9M25, the overall performance of Singapore’s economy was better than expected as the global trade tensions eased after the US pivoted on its reciprocal tariffs and reached deals with its major trading partners. The manufacturing, wholesale trade and finance & insurance sectors remained the growth pillars of the Singapore economy, and each sector delivered decent growth. In particular, manufacturing’s growth has been robust, driven by the electronics, transport engineering and biomedical manufacturing clusters. The full year outlook is upbeat, as the growth momentum shall continue till the end of the year.

Looking ahead, the global economic outlook for 2026 suggests slower GDP growth for most of Singapore’s key trading partners, including China and the Eurozone, largely due to the impact of US tariffs, which will temper demand for Southeast Asian exports, though US growth is expected to remain resilient from AI investment. Consequently, Singapore’s outward-oriented sectors, particularly manufacturing and trade-related services, are projected to expand at a slower pace than in 2025, although the electronics and related sectors will benefit from AI demand, while some precision engineering and biomedical output may moderate domestically, the construction sector is set to grow, but consumer-facing sectors are likely to remain subdued. However, the relatively low interest rates and continuous government support shall buffer the impact of the slowdown, and the capital market will still benefit from the upward re-rating catalysts.

Chen Guangzhi, Head of Research at KGI Singapore, says: “Thanks to trade de-escalation and the AI wave, Singapore experienced significant economic expansion in 2025. Proactive government initiatives turbo-charged the equity bull run, and this strong momentum is expected to deliver an optimistic economic outlook for 2026.”
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KGI

KGI* has been a leading financial institution in Asia since 1997. Our scope of business encompasses wealth management, brokerage, fixed income, and asset management. We are committed to offering a comprehensive range of financial products and services to corporate, institutional, and individual clients throughout Asia. Backed by KGI Financial Group, we have a robust footprint in Asia, covering Taiwan, Hong Kong, Singapore, Indonesia, and Thailand^.

*KGI refers to KGI Asia Limited and its affiliates.
^an investee enterprise of KGI Securities, not a subsidiary.

Scheduled to open within the next 12 months, The Gama by Swiss-Belhotel, is strategically located in Kilimani, one of Nairobi’s most dynamic and sought-after districts. It features 155 well-appointed guest rooms, complemented by an extensive range of lifestyle and business facilities, including two food and beverage outlets, a fully equipped gym, a rooftop swimming pool, a dedicated ladies’ sauna, and expansive ballroom and meeting facilities.

Dr. Sheikh Mohamed Shakul, CEO of Albushra Real Estate Limited, said: “The Gama by Swiss-Belhotel represents a bold and future-focused development for Nairobi. Our vision was to create a modern hospitality and lifestyle destination that reflects the energy of the city while meeting the evolving expectations of today’s traveller. Partnering with Swiss-Belhotel International, with its global expertise and strong operational standards, ensures that this project will set a new benchmark in the market.”

Mr. Gavin M. Faull, Chairman and President of Swiss-Belhotel International, added: “The launch of The Gama by Swiss-Belhotel marks a significant milestone for our group as we introduce a new brand to our global portfolio. Africa continues to be a key focus market for Swiss-Belhotel International, and Nairobi, in particular, offers tremendous potential. This signing reflects our confidence in the city’s long-term growth and our commitment to delivering brands that are relevant, contemporary, and market-driven.”

Highlighting the strategic importance of the project, Mr. Laurent A. Voivenel, SVP – Operations & Development, EMEA and India, Swiss-Belhotel International, stated: “The Gama by Swiss-Belhotel has been carefully conceptualised to resonate with the next generation of travellers – those seeking authenticity, smart design, and social connectivity without compromising on comfort or service quality. This signing not only strengthens our footprint in Kenya but also underscores our broader expansion strategy across Africa and emerging markets.”

Hashtag: #swissbelhotel #swissbelhotelinternational #thegamabyswiss-belhotel #hotelkenya #hotelnairobi #kenya #nairobi

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“This is incredible!” said Edward Townsend, a Cambridge student, his cheeks rosy from the cold wind and his eyes gleaming with excitement after an intense ice dragon boat race. “In the UK, the lowest temperature is around -5°C, but here it’s over -20°C. At first, we had no idea about ice dragon boating, but it’s more than just physical; it’s a test of teamwork. We’ve rowed on the River Cam, but this is our first time racing dragon boats on ice in China.”

“The biggest challenge is the technique difference. Ice dragon boating tests your core and upper body, while water rowing is more about the legs,” said Daniel Foran from Oxford. “But this challenge brought us closer as a team, and the HIT coaches were incredibly supportive, showing us how to use our strength effectively.”

“Ice dragon boating has really shown me how sports can bring the world closer, making distance feel almost irrelevant,” said Na Boshi, a student at HIT who is competing in his third ice dragon boat race. “In the past, the event was mainly an opportunity to connect with students and faculty from other C9 universities in China. This year, however, it felt even more exciting, as we welcomed teams from Oxford, Cambridge, and universities in Hong Kong and Macao. HIT’s athletic programmes are becoming increasingly international, creating an incredible platform for cultural exchange and mutual learning.”

“In Chinese culture, the dragon boat symbolises unity, progress, and excellence, values that resonate with the British ideals of courage, courtesy, and responsibility,” said Chen Jie, HIT Party Secretary. “Although China and the UK are at opposite ends of the Eurasian continent, this event bridges Oxford and Cambridge’s century-old rowing tradition with HIT’s engineering legacy and fosters cultural understanding between our youth.”

Beyond the competition, the cultural exchange was equally vibrant. Participants had the chance to visit Harbin Ice-Snow World, feed Siberian tigers up close, taste traditional Northeast Chinese cuisine, and explore the century-old Chinese Baroque district. These immersive experiences gave the foreign students a new and deeper understanding of China.

As a leading engineering university in China, HIT’s hosting of the event was more than a sports competition; it was an effort to explore new pathways for opening up higher education in today’s complex international landscape.

Hashtag: #HIT

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New targets outlined for 2030 following the successful conclusion of the 25×25 sustainability targets

HONG KONG SAR and SHANGHAI, CHINA – Media OutReach Newswire – 12 January 2026 – Hang Lung Properties Limited (SEHK stock code: 00101) (“Hang Lung” or the “Company”) today announces a new phase in its sustainability journey, unveiling 20 refreshed 2030 targets that build on its success in achieving its 25 x 25 Sustainability Targets.

Launched in 2021, the 25 x 25 targets defined Hang Lung’s agenda to the end of 2025 across four priorities: Climate Resilience, Resource Management, Wellbeing, and Sustainable Transactions. The Company has achieved its earlier ambitions, and exceeded targets related to greenhouse gas emissions reduction, renewable energy, and energy efficiency. Establishing such a concrete and robust set of targets also helped the Company develop practices in sustainability innovation and continual improvement.

Building on this success, now with expanded data, greater organizational maturity, and heightened ambition, Hang Lung’s refreshed 2030 targets reflect its position as an industry leader in sustainability.

The 20 targets for 2030 continue to be organized under the four priorities that define Hang Lung’s approach to sustainability, including the below highlights:

• Climate Resilience: Among the first real estate companies in Asia to have near- and long-term targets fully aligned with the Science Based Target initiative’s Buildings Criteria and its emission reduction pathway (1.5°C). Also, Hang Lung is the first real estate company in Asia to establish a Climate Value-at-Risk target.
• Resource Management: The first real estate company in Asia to formulate a target for biodiversity net gain (10%) on all new development projects and major renovations, supporting urban ecosystems and enhancing green spaces.
• Wellbeing: Generate at least HK$40 million in social value through community investments.
• Sustainable Transactions: Collaborate with tenants representing 25% of our leased floor area through our sustainability partnerships program.

Collaboration across the value chain remains central to Hang Lung’s approach, extending beyond traditional metrics. Hang Lung aims to partner with suppliers and tenants through quantifiable targets to drive progress upstream and downstream. In addition, the Company is committed to supporting innovation in standards development to facilitate impactful sustainability initiatives across sectors and jurisdictions.

Mr. Adriel Chan, Chair of Hang Lung Properties and Chair of the Sustainability Steering Committee, commented: “We are excited to embark on this next phase of our sustainability journey, reflecting Hang Lung’s growing role not just as a leader in sustainability action, but also in sustainability thought leadership. By working closely with partners across our value chain, we are confident that we can deliver on these commitments and continue to foster excellence in sustainable development in Asia.”

Mr. John Haffner, Deputy Director – Sustainability, added: “Over the past several years, we have seen how ambitious targets focus our efforts and help develop a culture of innovation. Building on our achievements and lessons learned, our 2030 targets are sharper and more data-driven, and will help us achieve greater impact in our communities.”

Full details of the 25 x 25 wrap-up and the new 2030 targets will be shared in Hang Lung’s 2025 Sustainability Report to be released in March. The report will provide further insights into the Company’s achievements, lessons learned, and emerging plans to support the refreshed 2030 targets, inviting partners and the wider public to join forces in shaping a sustainable future.

Appendix
Overview of 2030 Sustainability Goals and Targets

* Our definition of diverse background includes people with disabilities and ethnic minorities.

Hashtag: #HangLungProperties

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About Hang Lung Properties

For more information, please visit www.hanglung.com.