SINGAPORE, Aug. 30, 2026 /PRNewswire/ — AIMX Singapore 2026 has successfully concluded at Sands Expo & Convention Centre. Mr Tan Kiat How, Senior Minister of State, Ministry of Digital Development and Information, visited Runjian Co., Ltd.’s booth. As an official Platinum Partner of the event, Runjian focused firmly on Token overseas expansion, showcasing its Token-as-a-Service ecosystem layout across the ASEAN region under the theme “Token as a Service: Powering a Smarter ASEAN”.
Mr Tan Kiat How visiting Runjian’s booth
At the exhibition, Runjian displayed a full lineup of innovative technological solutions covering multiple industry scenarios, including Wuxiang Cloud Valley Token Factory, Apollo 11 CEL enterprise platform, Lawer — ASEAN Legal AI Agent, Hanmate — Online Chinese Learning Platform, and iRun Renewable Energy Platform. The diversified product matrix fully demonstrates Runjian’s robust technical strength and practical application capabilities in core fields such as computing power service, green energy management, intelligent education, enterprise intelligent transformation and government digital governance. The innovative Token-driven technology system attracted extensive attention from global industry clients, developers and ecological partners, who conducted in-depth exchanges on ASEAN localized digital cooperation.
During the summit, Runjian delivered two influential keynote speeches at the main forum to share its overseas development layout. Athena Zhao, Vice President of Runjian Co. Ltd, elaborated on the innovative value of the Token-as-a-Service (TaaS) model in realizing inclusive and on-demand computing power services, helping Southeast Asian enterprises achieve efficient and cost-effective large-scale AI deployment. Meanwhile, Jake Yin, Vice President of the AI Business Group at Runjian Co. Ltd, shared the ontology-native advantages of the Apollo 11 platform, explaining how to help enterprises eliminate fragmented AI application pain points and build independent, controllable and continuously evolving proprietary intelligent systems.
Leveraging the high-end international platform of AIMX Singapore, Runjian actively connects global industrial resources to accelerate cross-border computing power circulation and Token overseas layout. Adhering to its unique regional development strategy, the company has set up overseas branches in Jakarta (Indonesia), Kuala Lumpur (Malaysia) and Thailand, with business coverage spanning all major ASEAN countries. Empowered by its solid local operational foundation, Runjian continues to deepen localized technological innovation and ecological cooperation across the ASEAN market. Moving forward, Runjian will join hands with global partners to build an open and win-win regional AI ecosystem, continuously empowering the high-quality development of the China-ASEAN digital economy.
KOH SAMUI, Thailand, Aug. 29, 2026 /PRNewswire/ — AgroundbreakingceremonyforthenewClubMedKohSamuiresortwasheldonTuesday,25August2026, marking a significant milestone for both Club Med and Central Capital Group, one of Thailand’s leading business conglomerates.
(Left to Right) Jason Dunn, Managing Director CIO, Central Capital Group; Andrew Xu, Deputy CEO & Chief Growth Officer, Club Med; Phoom Chirathivat, Managing Partner, Co-founder Central Capital Group; Rachael Harding, CEO, Southeast Asia and Pacific, Club Med; Charles Rubin, Managing Director IR, GC and Risk, Central Capital Group.
TheeventincludedatraditionalceremonyaswellasasymbolicplantingofnativeSamuicoconutseedlings, signifying a tribute to the locale as well as a brand new beginning and a vision of future success. This closely follows the signing of the Hotel Management Agreement (HMA) just earlier this year.
Representatives from Central Capital Group and Club Med at a traditional ceremony as part of the Groundbreaking of Club Med Koh Samui
The highly anticipated ClubMedKohSamui resort will be a Club Med Exclusive Collection Resort, the third in this product range in the East and South Asia, and Pacific (ESAP) region. Club Med Exclusive Collection Koh Samui will mark the brand’s firstExclusiveCollectionResortinThailand and second in the country, following Club Med Phuket which opened its doors 40 years back in 1985.
This expansion of Club Med and the Exclusive Collection product range continues the upscale trajectory of Club Med’s global upgrade which was completed in 2024. Since then, the group has been focused on accelerating the development of new resorts around the globe, including both Premium All-Inclusive as well as Exclusive Collection resorts.
With the ambition to double the number of resorts globally by 2030, Club Med’s development expansion roadmap is well-paced to deliver outstanding new resorts such as Club Med South Africa (newly opened in July 2026) and a brand new beach resort Club Med Borneo in Kota Kinabalu, Malaysia (end of 2026).
Other upcoming projects by Club Med include opening of resorts in Canada, Italy, Oman and Indonesia in the next few years.
AboutClubMed
Club Med, founded in 1950 by Gérard Blitz, invented the all-inclusive holiday club concept, adding in activities especially for children with the creation of the Mini Club in 1967. Led by its pioneering spirit, Club Med seeks out exceptional destinations and sites. Today, Club Med is the world’s leading provider of upscale, all-inclusive holiday packages with a French touch for families, active couples and individuals. Present in 40 countries around the world, and with over 60 Premium and Exclusive Collection Resorts, Club Med offers a vacation to experience free spirit in exceptional destinations and sites. Club Med employs nearly 28,000 Gentle Organisers (G.Os) and Gentle Employees (G.Es), representing 110 nationalities.
SUWANEE, Ga., Aug. 29, 2026 /PRNewswire/ — Marking the official opening of its North American manufacturing facility in Georgia, global Tier-1 supplier YFORE Technology debuted its Occupant & Driver Monitoring System (ODMS)—an integrated in-cabin full-coverage sensing solution.
As in-cabin monitoring systems become standard, conventional vision-only setups often struggle with seatback occlusion, footwell blind spots, and covered occupants, while distributed sensors complicate vehicle wiring and roof tooling. To solve this, YFORE’s ODMS combines a DMS/OMS-integrated smart mirror with automotive-grade cabin radar, delivering an integrated multimodal architecture for robust cabin protection.
Multimodal Fusion Eliminates Blind Spots Integrating the smart mirror with in-cabin radar overcomes optical limitations through RF signal penetration. The smart mirror’s high-definition camera tracks driver fatigue, distraction, and unresponsive states from a prime forward angle. Simultaneously, the roof radar penetrates blankets, clothing, and tall seatbacks to capture micro-breathing in rear rows and footwells, achieving comprehensive 3D spatial coverage.
Full-Scenario Sensing Aligned with Safety Standards The ODMS architecture covers seven core functions: driver fatigue, distraction, unresponsive driver, and phone use detection, alongside seatbelt status, occupant classification, and full-cabin life presence detection. This integrated approach provides automakers with a reliable, full-scenario sensing foundation to help vehicles achieve five-star safety ratings under Euro NCAP.
Streamlined Architecture and Cabin Space By embedding optical components into the smart mirror and pairing them with a compact radar module, ODMS eliminates multiple headliner cutouts and complex roof wiring. This preserves clean interior aesthetics while simplifying platform adaptation across multiple vehicle models.
Moving from localized monitoring to full-cabin protection, YFORE delivers a comprehensive, integrated, and scalable safety solution for global automakers.
About YFORE
YFORE is a global Tier 1 automotive electronics supplier dedicated to driving the future of intelligent mobility. Partnering with more than 30 leading automotive OEMs worldwide, YFORE delivers high-performance, automotive-grade solutions across Intelligent Access, Intelligent Mirror and Sensing systems. With operational footprint spanning North America, Europe, and Asia, YFORE combines global engineering depth with local execution to empower the next era of connected vehicles. For more information, please visit www.yftech.com/en or follow YFORE on LinkedIn.
JINAN, China, Aug. 29, 2026 /PRNewswire/ — Niutech Technology Group Co., Ltd (abbreviated as “Niutech”), a STAR Market-listed Chinese company specialized in industrial continuous pyrolysis technology, today announced it has signed a sales agreement with a global energy major for an Industrial Continuous Waste Plastic Pyrolysis Production Line. The line runs on Niutech’s proprietary patented pyrolysis technology and delivers safe, environmentally sound operation with a single-unit processing capacity of 10,000 to 50,000 tons per year (tpy). The agreement marks Niutech’s first entry into the customer’s equipment supply chain and the start of a long-term partnership.
As part of its sustainability commitments, the customer has steadily expanded investment in renewable energy in recent years and made Sustainable Aviation Fuel (SAF) a strategic priority. Under the agreement, Niutech’s technology and equipment will be deployed to upgrade a large refinery owned by the customer. Once complete, the refinery will have an integrated capability from pyrolysis oil to hydrotreated SAF.
Niutech – Industrial Continuous Pyrolysis Project Site
SAF is widely regarded as a key pathway for aviation decarbonization. Under the EU’s ReFuelEU Aviation regulation, SAF blending in jet fuel is mandatory at 2% from 2025, rising to 6% by 2030 and 70% by 2050, while the UK and Singapore have enacted their own blending mandates. Used cooking oil (UCO) is currently the dominant feedstock for SAF production, but limited UCO supply has left the market in urgent need of alternatives. Through Niutech’s patented technology, waste plastics can be converted into pyrolysis oil suitable for SAF production, making the feedstock route a promising second option.
Niutech’s industrial continuous waste plastic line is highly tolerant of feedstock quality: it requires no complex washing, sorting, drying or fine shredding, and directly pyrolyzes low-value waste plastics — including PP, PE, PS, ABS and nylon, single or mixed — with high efficiency and long-cycle, safe, stable continuous operation at large throughput. Niutech’s waste plastic pyrolysis solutions have been commercialized in the UK, South Korea, Denmark, Thailand, Vietnam, China and other markets, supporting multiple 10,000-tonne-scale continuous projects, including the European Waste Plastic Pyrolysis Chemical Recycling Demonstration Project, the Southeast Asian Waste Plastic Pyrolysis Chemical Recycling Demonstration Project, and China’s first large-scale continuous pyrolysis project for medical waste plastics.
Waste plastic pyrolysis oil, once an alternative energy source, is now becoming a key upstream feedstock for aviation decarbonization. “Large-scale pyrolysis projects place demanding requirements on the continuous operation capability of the equipment,” said a market executive at Niutech. “Niutech has focused on pyrolysis technology for nearly 40 years and brings mature equipment and extensive project experience. This partnership is another validation of the strength of our industrial continuous technology.”
About Niutech
Niutech Technology Group Co., Ltd (Stock Code: 688309) is a pyrolysis solutions provider with fully proprietary, globally leading pyrolysis technology, integrating R&D and application, high-end equipment manufacturing and sales, and its own industrial project construction and operation. Its independently developed industrial continuous pyrolysis equipment, with a single-unit processing capacity of 10,000 to 50,000 tpy, has been applied to the disposal of more than 30 waste types, including scrap tires, waste plastics, oily sludge, tar residue, medical waste and biomass. Niutech has helped customers complete 10,000-tonne-scale continuous pyrolysis projects across dozens of countries, including Germany, the UK, South Korea, Denmark and Brazil.
Souksavart Sosouphanh has been appointed Managing Director and CEO of Électricité du Laos (EDL), less than two months after four former EDL executives were sentenced to life imprisonment in a corruption case involving a hydropower project.
The appointment was announced on 27 August at EDL’s headquarters in Vientiane during a ceremony chaired by Industry and Commerce Minister Malaithong Kommasith.
Souksavart previously served as Deputy Managing Director of EDL and has been Managing Director and CEO of EDL-Generation Public Company (EDL-Gen) since March 2025, according to EDL-Gen records.
EDL-Gen’s 2026 first-quarter report lists Souksavart as a member of its board and Managing Director, with his appointment approved on 31 March 2025.
He will now lead EDL, the state-owned utility responsible for Laos’ electricity transmission and distribution.
EDL Corruption Case
The leadership change comes less than two months after the Vientiane Capital People’s Court handed down life sentences in a major corruption case involving EDL.
On 1 July, the court sentenced four former senior EDL executives and Thai businessman Aphichart Vannakul to life imprisonment over corruption linked to an EDL hydropower project. The defendants were convicted of offences including embezzlement, abuse of office and bribery.
The court also ordered Aphichart to pay more than USD 24.8 million in compensation to EDL and authorized the confiscation of assets linked to the case.
Where robot mowers fail is rarely the open lawn. It is the narrow passage beside the house, the corner under a tree where satellite reception dies, the front garden the machine cannot reach. Wire-guided mowers need a cable buried around the whole plot. RTK mowers lose their fix under canopies and beside walls.
The Mix 2000 does without both. Its XcanSense system fuses LiDAR with camera vision to map the garden automatically on the first run, with no wire, no antenna, no base station and no boundary walk, and holds roughly 2 cm positioning accuracy in shade, beside walls and after dark.
It passes through gaps as narrow as 55 cm, climbs 25-degree slopes, clears 5 cm obstacles and covers up to 2,000 m² at around 180 m² per hour. Cutting height runs from 30 to 60 mm. It works at 61 dB, carries an IPX6-rated body, and ships with 4G, GPS, a rain sensor, a swappable battery and multi-zone mapping as standard.
“Every robot mower is advertised on the same flat, open lawn,” said Zhanbin Li, founder and CEO of Xcanbot. “We built the Mix 2000 for the garden with a narrow gate, a slope and a big tree. That is most gardens.”
The Mate X shares the stand: a seated mobility robot sold as consumer technology, driving itself to a chosen destination while watching 180 degrees ahead. It appears next at REHACARE International 2026, Düsseldorf, 23-26 September, Booth 1A57-3.
The Mix 2000 launches on Kickstarter later this year. Sign up at launch.xcanmow.com for launch notice and an early discount.
Hashtag: #Xcanbot
The issuer is solely responsible for the content of this announcement.
About Xcanbot
Xcanbot develops consumer robotics for everyday life, including the Mate X smart mobility companion robot and the XcanMow Mix 2000 robot lawn mower.
URUMQI, China, Aug. 29, 2026 /PRNewswire/ — The 2026 “A Date with China: Meet Xinjiang” international media tour officially commenced on Aug 25 in Urumqi, the capital of the Xinjiang Uygur autonomous region. The event aimed to build bridges for cross-cultural storytelling, bringing together an international delegation of journalists, experts, social media influencers, and Gen Zers.
This year’s delegation comprises 16 foreign participants from 13 countries, including the United States, the United Kingdom, Germany, Italy, Russia, Algeria, Serbia, Ukraine, India, Brazil, Indonesia, Vietnam and Pakistan. They are joined by Chinese reporters from major media outlets such as China Daily Website, China National Radio Online, Global Times, China News Service, and Xinjiang media, forming a diverse international media corps.
To mark the beginning of the event, a flag-handover ritual was performed.
This is his first time in Xinjiang, and he had heard it’s a unique place with a long and rich history, said Thomas Jay Hopkins, an American expert with China Daily Website, at the ceremony. He added that he was eager to learn how people here had created their distinctive culture through diverse exchanges.
His sentiment was echoed by many in the international delegation, who expressed keen interest in experiencing Xinjiang’s development and cultural dynamism firsthand.
Over the next seven days, the tour group will travel through Urumqi and Changji Hui autonomous prefecture, among other areas, focusing on key sectors such as technological innovation, Silk Road culture and tourism integration, rural revitalization, and intangible cultural heritage. Their journey is designed to uncover compelling narratives and present an authentic and panoramic view of Xinjiang’s development and charm.
Now in its sixth year, the “A Date with China” series has hosted hundreds of international guests from over 40 countries and regions, visiting more than 500 locations across the country. Through a multilingual and integrated media approach, the initiative continues to bridge distances — capturing and sharing the contemporary beauty and dynamic spirit of China with the world.
Forest City SFZ sets out who may qualify for its 5% special corporate tax rate, how the separate Malaysia Digital tax incentive works, and which activities and conditions apply to each scheme.
JOHOR, MALAYSIA – Media OutReach Newswire – 29 August 2026 – Forest City has, over the past decade, built a recognised track record in green-building and sustainability credentials. Since the Malaysian Government announced the Forest City Special Financial Zone (“SFZ”) incentive package on 20 September 2024, the development has added a financial-services and digital-economy dimension. The Forest City Special Financial Zone (“FC-SFZ”) Tax Incentive offers a 5% special corporate tax rate for 10 consecutive years of assessment, extendable for a second 10-year period, to eligible companies undertaking qualifying fintech, Financial Global Business Services (“FGBS”) or Foreign Payment System Operator (“FPSO”) activities in Pulau 1, Forest City. Malaysia Digital Economy Corporation (“MDEC”) is the appointed government agency to process applications, which are assessed by the National Committee on Investment (“NCI”).
Forest City at night, looking across the Strait of Johor towards Singapore. Forest City lies approximately 2 km from Singapore at its nearest point.
The FC-SFZ Tax Incentive is separate from Malaysia Digital (“MD”) Status and the MD Tax Incentive. A company does not need MD Status to qualify for the FC-SFZ Tax Incentive. Under MDEC’s current rules, an FC-SFZ applicant must also not have been granted another tax incentive for the same qualifying activity. Eligible MD Status companies may separately apply for the MD Tax Incentive, subject to the applicable criteria and approval process.
Key Incentives at a Glance
Forest City’s first decade was defined in part by its green-building and sustainability record. Forest City reports nearly 40 international awards and certifications as at August 2026, including LEED for Core and Shell (“LEED-CS”) Gold pre-certification and GreenRE Gold ratings. On 20 September 2024, the Malaysian Government announced the Forest City SFZ incentive package, adding a financial-services and digital-economy dimension to the development.
The current incentive landscape has four main components:
Forest City SFZ corporate tax rate: Eligible companies undertaking qualifying fintech, FGBS or FPSO activities in Pulau 1 may receive a 5% special corporate tax rate for 10 consecutive years of assessment, extendable for a second 10-year period, subject to approval and continued compliance. The qualifying activity must use at least one promoted technology enabler specified by MDEC.
Single Family Office (“SFO”) Scheme: A qualifying Single Family Office Vehicle (“SFOV”) may receive a 0% tax rate on chargeable income from its qualifying holding and investment activities for an initial 10 years, with a possible extension for a further 10 years, subject to the Securities Commission Malaysia (“SC”) requirements.
Knowledge workers: Eligible knowledge workers working within the Johor-Singapore Special Economic Zone (“JS-SEZ”), which includes Forest City as a designated flagship area, may qualify for a special 15% personal income tax rate for 10 years, subject to the applicable conditions.
Malaysia Digital tax incentive: This is a separate national incentive administered by MDEC. For New Investment, eligible companies may choose between a reduced tax rate — 0% on qualifying intellectual-property (“IP”) income, subject to the modified nexus approach, and 5% or 10% on qualifying non-IP income for up to 10 years — or an Investment Tax Allowance (“ITA”) of 60% or 100% of qualifying capital expenditure for up to five years. Different rates apply to the Expansion Incentive. Applications are open until 31 December 2027.
Taken together, these measures position Forest City SFZ as a potential regional base for qualifying financial-services and technology-enabled businesses assessing Malaysia’s tax framework, proximity to Singapore and access to ASEAN markets. However, the schemes are separate and should not be treated as automatically cumulative.
Forest City Tax Framework for Fintech and Technology-Enabled Financial Services
The FC-SFZ Tax Incentive is not a blanket 100% tax exemption for fintech, AI or technology companies. It is a 5% special corporate tax rate for qualifying activities under the FC-SFZ framework. MDEC is the appointed agency to process applications, while applications are assessed by the NCI.
The 5% rate applies to qualifying fintech activities, FGBS and FPSO activities carried out in Pulau 1, Forest City. The qualifying activity must utilise at least one promoted technology enabler: artificial intelligence (“AI”) or big data analytics (“BDA”); Internet of Things (“IoT”); cybersecurity; cloud; blockchain; creative media technology, including extended reality (“XR”) or mixed reality (“MR”); robotics or automation; or advanced network connectivity or telecommunications technology. Eligibility is not automatic based on location alone; companies must also satisfy the applicable corporate, activity, substance, regulatory and compliance conditions.
The “up to 100%” figure sometimes cited in relation to Malaysia Digital refers to the ITA available under the MD New Investment Incentive. It is an allowance on qualifying capital expenditure, not a 100% income tax holiday. The MD Tax Incentive is also separate from the FC-SFZ Tax Incentive and should not be assumed to stack with it for the same qualifying activity.
Comparison table:
Scheme
What it covers
Headline rate / benefit
Authority & key note
Forest City SFZ — fintech / FGBS / FPSO incentive
Qualifying fintech, FGBS and FPSO activities in Pulau 1 using at least one promoted technology enabler
5% special corporate tax rate for 10 consecutive years of assessment; extendable for a second 10-year period
MDEC processes applications; NCI assessment. Applications open 1 Sep 2024–31 Dec 2034.
Forest City SFZ — Single Family Office
Qualifying SFOV holding and investment activities
0% tax rate for an initial 10 years; possible extension for a further 10 years
Securities Commission Malaysia; SFO tax rules gazetted on 3 Oct 2025.
JS-SEZ — eligible knowledge workers
Eligible knowledge workers working within the JS-SEZ, including qualifying roles in Forest City
15% personal income tax rate for 10 years
Ministry of Finance / JS-SEZ incentive package; subject to eligibility conditions.
Malaysia Digital Tax Incentive — New Investment
Eligible MD Status companies undertaking qualifying Malaysia Digital Activities
0% on qualifying IP income and 5% or 10% on qualifying non-IP income for up to 10 years; OR 60% or 100% ITA for up to 5 years
MDEC; MD Status required before tax-incentive application. Applications open until 31 Dec 2027.
Malaysia Digital Tax Incentive — Expansion
Eligible MD/MSC Malaysia Status companies undertaking qualifying new or expansion activities
15% reduced tax rate for up to 5 years; OR 30% or 60% ITA for up to 5 years
MDEC; subject to the Expansion Incentive criteria. Applications open until 31 Dec 2027.
Malaysia standard corporate rate
Companies not qualifying for a lower or special rate
24% headline corporate income tax rate
Inland Revenue Board of Malaysia (LHDN); lower tiered rates may apply to qualifying SMEs.
For accurate and current policy information, companies should refer directly to official sources, including:
Malaysia Digital Status and Tax Incentive: A Separate National Framework
MD Status is granted nationally by MDEC. An MD Status company may then be eligible to apply separately for the MD Tax Incentive, subject to the relevant criteria. Under MDEC’s current framework, qualifying Malaysia Digital Activities comprise the research, development or commercialisation of solutions, or the provision of services, using promoted technology enablers such as AI or BDA, IoT, cybersecurity, cloud, blockchain, drone technology, creative media technology, integrated-circuit design with embedded software, robotics or automation, and advanced network connectivity or telecommunications technology.
Under the current MD Tax Incentive, the available options differ between New Investment and Expansion:
New Investment: A 0% reduced tax rate on qualifying IP income, subject to the modified nexus approach, and a 5% or 10% reduced tax rate on qualifying non-IP income, for up to 10 years; or an ITA of 60% or 100% of qualifying capital expenditure against up to 100% of statutory income, for up to five years.
Expansion: A 15% reduced tax rate on qualifying IP income, subject to the modified nexus approach, and non-IP income, for up to five years; or an ITA of 30% or 60% of qualifying capital expenditure against up to 100% of statutory income, for up to five years.
The “100%” figure therefore refers to the ITA rate under the New Investment Incentive. It does not mean that all company income is tax-free.
The MD Tax Incentive is open for applications until 31 December 2027. A company must first obtain MD Status before submitting an application for the MD Tax Incentive.
MD Status also provides access to non-tax benefits under the MD Bill of Guarantees, including the ability to apply for foreign knowledge-worker quotas and passes, subject to the relevant immigration requirements. MDEC’s Expats Service Centre administers the related Foreign Knowledge Worker processes for eligible companies.
Eligibility Summary: Entities, Sectors and Permitted Activities
Forest City SFZ 5% rate
Activity-based: Qualifying services are limited to fintech-related activities, FGBS and FPSO activities.
Technology condition: The qualifying activity must utilise at least one promoted technology enabler specified by MDEC, including AI or BDA, IoT, cybersecurity, cloud, blockchain, creative media technology, robotics or automation, or advanced network connectivity or telecommunications technology.
Location condition: The qualifying activity must be carried out in Pulau 1, Forest City.
Substance and compliance conditions: Approved companies must meet the conditions set out in their approval letter, including commitments relating to full-time employees, knowledge workers, annual operating expenditure, ESG requirements, relevant regulatory approvals or licences, and annual compliance reporting verified by an independent auditor.
Malaysia Digital (MD) Status and MD Tax Incentive
Activity-based: MD eligibility is tied to Malaysia Digital Activities that use the promoted technology enablers specified by MDEC. Merely operating an AI, cloud, fintech or digital business does not automatically confer tax-incentive eligibility.
Status and tax-incentive process: MD Status is granted by MDEC. The MD Tax Incentive is a separate application available to eligible MD or MSC Malaysia Status companies, depending on the relevant incentive category.
Geographic scope: MD Status is a national programme and does not require a company to be located in Forest City.
No automatic stacking: MDEC states that an FC-SFZ Tax Incentive applicant must not already have been granted a tax incentive for the same qualifying activity. MDEC also confirms that MD Status is not required to apply for the FC-SFZ Tax Incentive.
Accordingly, companies should assess the FC-SFZ and MD frameworks separately. Any proposed structure involving different activities, income streams or incentive programmes should be verified with MDEC and qualified tax advisers before any combined tax outcome is assumed.
Strategic Rationale: Proximity, Talent Incentives and Regional Access
Forest City’s location proposition is based on three interlocking factors: proximity to Singapore, targeted talent incentives and early investor interest.
Proximity as operational leverage: Forest City lies approximately 2 km from Singapore at its nearest point, placing qualifying operations close to one of Asia’s major financial and technology hubs. The Johor Bahru-Singapore RTS Link will connect Bukit Chagar in central Johor Bahru with Woodlands North in Singapore. MRT Corp has stated that service is targeted to commence on 31 December 2026. The RTS Link does not serve Forest City directly, so onward road transport between Forest City and central Johor Bahru will still be required.
Talent as a bundled enabler: Eligible knowledge workers in the JS-SEZ may qualify for a special 15% personal income tax rate for 10 years, while eligible MD Status companies may apply for foreign knowledge-worker quotas and passes through MDEC’s expatriate facilitation framework. These are separate benefits with their own eligibility and approval requirements.
Decision Framework: Two Pathways and a Diligence Caveat
The incentive structure is best assessed through two distinct pathways, with a separate due-diligence lens for investors and advisers.
Pathway A – FC-SFZ presence on Pulau 1: This is relevant to eligible fintech companies, FGBS providers and FPSO businesses that can satisfy the physical-location, activity, substance and compliance requirements. The 5% special corporate tax rate is available for 10 consecutive years of assessment and may be extended for a second 10-year period, subject to continued compliance and approval.
This route may suit businesses that value proximity to Singapore while maintaining qualifying operations in Pulau 1. The RTS Link is expected to improve connectivity between central Johor Bahru and Singapore, but it does not remove the requirement for companies to maintain the approved substance and qualifying activities in Forest City.
Pathway B – MD Status and MD Tax Incentive nationwide: This pathway may be relevant to eligible digital companies operating elsewhere in Malaysia. MD Status is granted nationally by MDEC, and eligible companies may subsequently apply for the MD Tax Incentive. The applicable reduced tax rate or ITA depends on whether the company applies under the New Investment or Expansion category and on the conditions it meets.
Investors and advisers should note that headline rates are not the same as effective tax rates. The outcome for any entity depends on qualifying activities and income, approved commitments, substance conditions and the specific incentive secured. Groups with annual consolidated revenue of EUR750 million or more may also be subject to Malaysia’s domestic top-up tax rules where the relevant effective tax rate falls below 15%. Tax outcomes should therefore be modelled only after verification against current primary sources and professional advice.
The Verdict
Forest City’s proposition to fintech and technology-enabled financial-services companies is specific and condition-based: a 5% special corporate tax rate for qualifying fintech, FGBS and FPSO activities carried out in Pulau 1 using promoted technology enablers. The incentive runs for 10 consecutive years of assessment and may be extended for a second 10-year period, subject to compliance and approval. It is neither a blanket 5% rate for all AI or technology companies nor a 100% income tax exemption.
Alongside this are the separate SFO Incentive Scheme, which may provide a 0% tax rate for up to 20 years subject to SC requirements; the JS-SEZ’s special 15% personal income tax rate for eligible knowledge workers for 10 years; and the national MD Tax Incentive, which offers different reduced tax rates or ITA options depending on whether an applicant qualifies under the New Investment or Expansion category. Applications for the MD Tax Incentive are open until 31 December 2027.
Reported traction includes 260 cumulative investor enquiries recorded by Invest Johor by June 2026 and six families granted conditional approval under the SFO Incentive Scheme, with indicative assets under management close to RM400 million as reported by the SC in October 2025. Forest City also benefits from proximity to Singapore, while the RTS Link is targeted to commence service on 31 December 2026 between central Johor Bahru and Woodlands North.
For companies and investors, the key question is not simply whether these incentives exist, but whether their exact activities, income streams, location, substance commitments and corporate structure satisfy the conditions required to access them in practice. Current official guidance and qualified tax advice should be obtained before any investment or structuringHashtag: #ForestCity
The issuer is solely responsible for the content of this announcement.
