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Kuen Cheng High School Earns 2nd Place in Otis’ Asia Pacific Regional Made to Move Communities™ Challenge

School awarded US$15,000 grant to advance STEM programming

KUALA LUMPUR, Malaysia, April 10, 2025 /PRNewswire/ — A team of students from Kuen Cheng High School has been named runner-up in the Otis Asia Pacific region Made to Move Communities student challenge, a competition in which students apply principles of STEM (Science, Technology, Engineering and Maths) to propose solutions to real-world urban mobility issues.


Over the last several months, the high school students, with the guidance of Otis volunteer mentors, designed solutions leveraging AI technology aimed at enabling more inclusive mobility in their communities, and presented their ideas to Otis judges from the company’s Asia Pacific region. Otis (NYSE: OTIS) is the world’s leading elevator and escalator manufacturing, installation and service company.

The students’ solution titled City Alive: Leveraging AI to Resolve Traffic Congestion showcased an innovative concept using drones as command centers for the creation of autonomous and moveable platforms to clear road obstacles. The team received a US$15,000 grant from Otis to further advance STEM programming in their school.

“We extend our sincere gratitude to Otis for providing Kuen Cheng High School with the opportunity to participate in this year’s Made to Move Communities challenge,” said Ms. Foo Cheau Yee, teacher-in-charge from Kuen Cheng High School. “It has been an enriching and meaningful experience for our students, who have gained valuable insights through their eight-week collaboration with Otis volunteers—enhancing their AI solution, strengthening their presentation skills, and learning how to position a solution for commercial viability.” 

“Rapid urbanization has driven the swift growth of cities across Malaysia, leading to traffic congestion, longer commute times, and reduced productivity,” said Pradeep Nair, Managing Director of Otis Malaysia. “We extend our heartfelt congratulations to the students of Kuen Cheng High School for securing second place in the Otis Asia Pacific region with their innovative solution to overcome Malaysia’s urban mobility challenges. Most importantly, we hope this experience has inspired them—and all participating students—to continue exploring and pursuing opportunities in the STEM fields.”

About the Made to Move Communities challenge

Launched in 2020, the Made to Move Communities challenge engages young minds to explore real-world challenges and develop innovative solutions with the potential to create more connected communities and improve mobility for all. This initiative brings together students, educators, and Otis colleagues as mentors with the goals of advancing STEM and leadership skills to help build the next generation of talent, ensuring future workforce readiness, and sustaining innovation.

Each year, the program focuses on a different theme that aligns with global priorities, such as sustainability, accessibility or technology. This year’s theme had students incorporate Artificial Intelligence into their proposals. Students are encouraged to think critically and creatively, applying STEM principles to address mobility-related issues. Through workshops, mentorship, and collaboration, participants gain valuable insights and skills that prepare them for future careers while making a positive impact on society. Participating schools also receive grants at the conclusion of the program to support ongoing STEM education in their schools.

This year, more than 250 students globally from dozens of schools participated in the challenge. To date, the Made to Move Communities program has reached more than 1,000 student participants, involved more than 950 Otis volunteer mentors, and delivered nearly 90 grants totalling over $1 million to support ongoing STEM education at participating schools.  

To learn more about the Made to Move Communities challenge, visit www.otis.com/mtmc.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry’s largest Service portfolio. You’ll find us in the world’s most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.

 

Japan Wi-Fi auto-connect x LIVE JAPAN Combining Wi-Fi Access and Tourist Info for Greater Convenience for International Visitors

TOKYO, April 10, 2025 /PRNewswire/ — NTT Broadband Platform, Inc. (hereinafter “NTTBP”) has been providing the smartphone application “Japan Wi-Fi auto-connect” (hereinafter “Japan Wi-Fi”) since December 2019. This application automatically connects users to free Wi-Fi available at locations such as local governments, public transportation, commercial facilities, and tourist sites nationwide. The app, which already enjoys widespread use among international visitors, will integrate with “LIVE JAPAN PERFECT GUIDE” (hereinafter “LIVE JAPAN“), effective Thursday, April 10, 2025. LIVE JAPAN is one of Japan’s leading tourism information websites for international visitors. In addition to its primary feature of automatic free Wi-Fi connection, the app will provide easy access to information on sightseeing, dining, shopping, accommodation, and more.

Image1: https://cdn.kyodonewsprwire.jp/prwfile/release/M108633/202503316619/_prw_PI1fl_EtAgb50A.jpg 

1. What is Japan Wi-Fi?
Japan Wi-Fi is an app that enables automatic connection to free Wi-Fi spots nationwide, with total downloads exceeding 2.4 million. Available in 16 languages, it is widely used by international visitors. Furthermore, it supports Open Roaming, which enables seamless connectivity at over three million Wi-Fi spots in Japan and abroad.

Japan Wi-Fi: https://www.ntt-bp.net/jw-auto/en/index.html 

2. What is LIVE JAPAN?
LIVE JAPAN is one of Japan’s largest tourism information websites for international visitors. Built around the concept of “Sharing Japan’s Appeal with Global Travelers,” it offers information on tourism and related topics in up to eight languages. It comprehensively covers essential information for visitors staying in Japan, such as sightseeing spots, dining options, and transportation information. The platform is operated in collaboration with over 60 companies and organizations across various sectors including railways, airports, buses, Wi-Fi, and retail. NTTBP has also been a long-standing participant in this initiative.

Image2: https://cdn.kyodonewsprwire.jp/prwfile/release/M108633/202503316619/_prw_PI2fl_IBvJGz1t.png 

LIVE JAPAN: https://livejapan.com/ 

3. New Top Screen
The Travel GUIDE tab allows users to quickly access LIVE JAPAN content covering sightseeing, dining, shopping, accommodation, and more.

Image3: https://cdn.kyodonewsprwire.jp/prwfile/release/M108633/202503316619/_prw_PI3fl_u7A50CPP.png 

4. Scheduled Service Start Date: April 10, 2025
Users can access the new features by updating the app or completing a new installation on or after this date.

5. Combining Connectivity and Information for More Comfortable Travel
As the number of international visitors grows, issues such as overtourism have become evident. To help address these issues, NTTBP aims to create a more comfortable and fulfilling travel experience by integrating reliable connectivity with relevant information.

Aiming to bridge the digital divide for international visitors, Japan Wi-Fi has historically focused on facilitating easy and secure connectivity through free Wi-Fi access. This integration with LIVE JAPAN allows travelers to smoothly access needed information and empowers tourist destinations to offer improved information. NTTBP hopes this fosters a positive information cycle that enhances the overall quality of travel in Japan.

The Nature Conservancy Urges the Government of Hong Kong for Designation of Pak Nai as a Marine Protected Area in the Northern Metropolis

 A Science-Backed, Community-Based and Consensus-Driven Conservation Plan Featuring Long-Term Conservation Recommendations to Protect One of Hong Kong’s Most Important Coastal Ecosystems  

HONG KONG, April 10, 2025 /PRNewswire/ — The Nature Conservancy (TNC) has released a comprehensive report outlining 10 key conservation recommendations for the future management of Pak Nai, a vital ecological hotspot along the Deep Bay coastline.

The Nature Conservancy Urges the Government of Hong Kong for Designation of Pak Nai as a Marine Protected Area in the Northern Metropolis
The Nature Conservancy Urges the Government of Hong Kong for Designation of Pak Nai as a Marine Protected Area in the Northern Metropolis

Marine conservation in Hong Kong severely lags behind terrestrial conservation despite having rich marine biodiversity within a relatively small area. Hong Kong’s waters are home to at least 5,943 species, which represents over one-quarter of the total number of species known in mainland China. However, Hong Kong’s existing network of Marine Protected Areas (MPA)s covers only around 6% of its territorial waters, compared to the 30% global target. More importantly, many marine biodiversity hotspots remain outside of protected areas, leading to ecosystem degradation and leaving vulnerable species at peril from on-going threats.

At risk is Pak Nai, an ecological hotspot of regional significance at the Northwestern edge of Hong Kong. The area covers approximately 80 hectares stretching from Sheung Pak Nai to Ha Pak Nai and includes mangrove forests, oyster reefs, Hong Kong’s largest Halophila beccarii seagrass beds, and serves as a critical nursery for two threatened horseshoe crab species (Tachypleus tridentatus and Carcinoscorpius rotundicauda), as well as foraging grounds for thousands of migratory birds. Despite its rich biodiversity, the area remains largely unprotected and faces increasing threats from invasive species, illegal fishing, marine litter, and unregulated tourism.

To address this gap, since 2017, TNC has partnered with local communities, academic institutions, environmental NGOs, and volunteers to implement science and community-based conservation at Pak Nai. These efforts have already shown measurable success, including over 190% increase in endangered horseshoe crab populations, the reconfiguration of over 8,000 square meters of abandoned oyster farms into soft shore and natural oyster reefs, and the removal of over three tons of marine litter and 2,614 square meters of invasive Spartina cordgrass. Despite these successes, Pak Nai remains vulnerable to illegal fishing, habitat degradation, and unmanaged human activities. Without long-term and effective management, progress in conservation is reversible and a threat to the health of the Pak Nai ecosystem and the species that depend on them.

Marine Thomas, Associate Director of Conservation for The Nature Conservancy, explained the importance of community conservation efforts where official protection is lacking, saying:

“Like many marine biodiversity hotspots in Hong Kong, Pak Nai sits outside of official protection and effective management. As a result, threatened species that depend on them are vulnerable to local extirpation. As Hong Kong’s largest endangered horseshoe crab nursing ground, we couldn’t afford to wait for official protection measures in to fall into place, so we launched a bottom-up approach through community-based conservation empowering the community to take conservation into their own hands. The model has yielded positive results, but Pak Nai still needs increased government support for effective long-term conservation”.

The opportunity for increased protection under the planned Coastal Protection Park and TNC’s Conservation Vision for Pak Nai

In 2021, the Hong Kong government unveiled its project to transform a large area of northern new territories into the Northern Metropolis, which is set to accommodate over 2.5 million residents and partially develop rural areas. Pak Nai is included in the Northern Metropolis blueprint as a strategic site for conservation and ecotourism development within a proposed 10 km long Coastal Protection Park (CPP) along the Deep Bay coastline. With sound conservation planning and implementation, this new CPP could be an opportunity to ensure much needed protection and management of Pak Nai and other vital ecological areas.

To that end, TNC is urging the Government to ensure protection of Pak Nai’s biodiversity by adopting a science-driven, community-based approach that aligns with global conservation standards. Key conservation planning considerations should include:

  • Designating Pak Nai as a Marine Protected Area (MPA), e.g. Marine Park or Core Protected Zone under the Coastal Protection Park, to provide more active and formal protection for its rich biodiversity.
  • Carrying out community stakeholder engagement into the planning of the proposed Coastal Protection Park.
  • Incorporating effective management measures and scientific monitoring to track the ecosystem’s health, as well as regular evaluations to adapt and improve management strategies based on scientific data.
  • Aligning with international standards such as the IUCN Green List of Protected and Conserved Areas framework to ensure effective governance and conservation excellence.
  • Integrating community-based management principles that engage and benefit local community stakeholders.

The report also proposes 10 Specific Recommendations for long term management of a Pak Nai MPA:

  1. Establish Core Conservation No-Go Zones – Zoning to protect the most ecologically sensitive areas from human disturbance.
  2. Carry out Active Habitat Management – Control invasive species, remove marine litter, and restore degraded mudflats (e.g. areas with abandoned oyster farms).
  3. Implement Long-term Scientific Monitoring – Track habitat health and species recovery including horseshoe crab populations, oyster reef associated biodiversity and seagrass beds as key indicators.
  4. Adopt Community-Based Conservation measures- Empower local communities to carry out conservation stewardship and develop sustainable ecotourism activities that align with IUCN standards and support long-term conservation goals.
  5. Adopt Inclusive governance:  Form a Pak Nai Advisory Committee with government, academic, conservation experts, and local community stakeholders to ensure transparent decision-making and incorporate community input into governance.
  6. Develop low-cost eco-friendly facilities – To minimize trampling on mudflats and seagrass beds while allowing visitors to safely observe wildlife.
  7. Set up adequate funding mechanisms that support on going-site management, inclusive conservation and community stewardship. For e.g. support on-site training programs for Ecotour Guides that to ensure sustainable visitor management.
  8. Adopt an Ecosystem-Based Management (EBM) Approach – Address knowledge gaps through further scientific studies and habitat restoration across the entire estuarine ecosystem (for e.g. reforestation in degraded coastal hillsides).
  9. Establish a Buffer Zone – Prevent high-density development near Pak Nai to minimize human impact.
  10. Ensure Ecological Connectivity – Link Pak Nai with a network of other protected areas, including the subtidal marine and terrestrial areas of the Coastal Protection Park, Mai Po Nature Reserve and the broader Wetland Conservation Park Systems.

Ken Cheng, Resident Representative of Ha Pak Nai Tsuen, emphasized the urgency of these conservation efforts, saying:

“Pak Nai was once home to many large adult horseshoe crabs, but now we barely see any, and those we observe nowadays are much smaller. The decline of these iconic species reflects the overall degradation of our local ecosystem. These recommendations are critical for restoring and preserving Pak Nai’s natural environment, which will not just benefit the biodiversity but also create new opportunities for sustainable tourism that can support our community.”

According to Tom Chan, Community Conservation Manager at TNC:

“It is crucial that we include Pak Nai as a core conservation area within the new Coastal Protection Park or as an outstanding Marine Park. This area is not only a biodiversity hotspot but also rich in cultural heritage. Our research and community-based efforts over the past years have shown that inclusive conservation can effectively manage and protect Pak Nai’s unique habitats, benefiting both people and nature. The recommendations we have put forward, grounded in the IUCN Green List framework, aim to ensure that Pak Nai thrives ecologically while supporting sustainable development of the Northern Metropolis.”

As a member of the Hong Kong Marine Protection Alliance (HKMPA), TNC extends its sincere thanks to HKMPA partners for their valuable contribution, alongside the 6,500 public volunteers and 55,000 supporters who have supported conservation efforts. Special appreciation is given to the organizations and individuals who have supported TNC’s work in Pak Nai, including the Agriculture, Fisheries and Conservation Department, Marine Conservation Enhancement Fund, Ha Tsuen Rural Committee, local communities, oyster farming associations, and academic institutions. Their collaboration has been instrumental in advancing conservation goals and protecting one of Hong Kong’s natural gems.

For the full report, please visit [LINK].
For photos download, please go to [LINK

About The Nature Conservancy 
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world’s toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping to make cities more livable. Working in more than 81 countries and territories, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. TNC has been in Asia Pacific for almost 30 years with projects in Australia, mainland China, Hong Kong, Indonesia, Mongolia, New Zealand, and the Pacific Islands.  In 2019, TNC was awarded the Lui Che Woo Prize for Sustainable Development. To learn more, please visit: The Nature Conservancy (tnc.org.hk) or follow TNC HK and @tnc_hk

Please consider the environment before printing this press release.

Zimbabwe Government Delivers on Commitment: Compensation of Former Farm Owners Under the Global Compensation Deed Commences

In February 2025, Government disbursed US$20 million towards compensation of investors protected by Bilateral Investment Promotion and Protection Agreement whose farms were affected by the 2000 Land Reform programme


HARARE, ZIMBABWE – EQS Newswire – 10 April 2025 – Zimbabwe Government has started fulfilling its commitment to compensate Former Farm Owners (FFOs) claims under the Global Compensation Deed (GCD) signed in 2020. To date, 740 farms have been approved for compensation. In this regard, Government disbursed US$3.1 million for the first batch of 378 processed farms. This amount is 1 per cent of the total compensation claim value of US$311 million. Government has also issued Treasury bonds amounting to US$ 308 million for the first batch of farmers.

FFOs receive 1 per cent of their claim in cash, with the balance being paid through US$ denominated Treasury bonds with a 2 per cent coupon and maturities of 2 to 10 years. Government allocated US$10 million in the 2025 National Budget for the compensation of FFOs under the GCD.

Zimbabwe’s Minister of Finance, Economic Development, and Investment Promotion, Hon. Prof. Mthuli Ncube, reaffirmed the Government’s commitment to reforms aimed at clearing the country’s arrears and resolving its debt burden, emphasizing that “payments to FFOs will continue.”

Monday 24 March 2025 saw the first US Dollar Cash payments due under this plan being paid to the signed up FFOs,” said Mr. Andrew. J. Pascoe, Chairperson of the Compensation Steering Committee.

Mr. Pascoe thanked His Excellency, President Dr. E.D Mnangagwa for upholding the commitment to compensate FFOs for improvements on farms acquired under the Fast Track Land Reform Programme more than 20 years ago. He believes this move “will attract and strengthen the local, regional and international goodwill that will be vital for the success of the country’s current Arrears Clearance and Debt Resolution Process.”

UNDP Resident Representative Dr. Ayodele Odusola welcomed the progress made under the GCD framework and expressed commitment “to supporting a transparent, inclusive, and sustainable process that contributes to economic recovery and re-engagement.”

Ambassador of Switzerland to Zimbabwe, H.E. Stéphane Rey said; “These initial payments are a step in the right direction and hopefully more farmers will come forward to seek compensation based on this development.”

This compensation marks another historic milestone. In February 2025, Government disbursed US$20 million towards compensation of investors protected by Bilateral Investment Promotion and Protection Agreement whose farms were affected by the 2000 Land Reform programme. Both milestones are key as Zimbabwe seeks to clear its arrears, restore debt sustainability, and unlock new concessional external financing to achieve its development goals. Zimbabwe further calls for support from partners to complement its efforts.

Distributed by APO Group on behalf of Zimbabwe’s Ministry of Finance, Economic Development and Investment Promotion.

Download Image (1): https://apo-opa.co/4iXaNax (Zimbabwe President H.E Emmerson D Mnangagwa flanked by Zims Finance Minister Hon.Mthuli Ncube Afdb President Dr. A.A. Adesina Ambassador Nuno)

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Hashtag: #ZimbabweGovernment

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

Ascott aims to double India portfolio to 12,000 units by 2028 and commits to grow India as a key outbound source market

  • Inks three signings in Q1 2025 to add 600 units under the Oakwood brand, bringing Ascott’s current portfolio in India to ~6,100 units
  • Introduces lyf, The Crest Collection and The Unlimited Collection brands to cater to the evolving needs of next-gen travellers and address the growing demand for authentic Indian heritage and cultural experiences

MUMBAI, INDIA / SINGAPORE – Media OutReach Newswire – 10 April 2025 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), plans to double its portfolio in India to 12,000 units by 2028, up from about 5,500 units at the end of 2024. This was announced at the 20th Hotel Investment Conference – South Asia (HICSA), in Mumbai, where Ascott’s Chief Executive Officer Kevin Goh spoke on the topic of ‘Redefining Global Living’ – expounding on how global living today has become a reflection of how people live, work, and travel seamlessly across borders. On the back of favourable growth prospects in the Indian hospitality market, Ascott is riding on a strong momentum in the first quarter of 2025 with three signings in Goa, Lucknow and Thanjavur. These signings collectively added 600 units to Ascott’s India portfolio, which now totals about 6,100 units across 22 properties, including both operating and in the pipeline.

Ascott outlined plans to double its portfolio in India to 12,000 units by 2028, up from approximately 5,500 units by the end of 2024. This was announced at the 20th Hotel Investment Conference – South Asia (HICSA) in Mumbai, where Ascott CEO Mr Kevin Goh delivered a keynote on ‘Redefining Global Living’.
Ascott outlined plans to double its portfolio in India to 12,000 units by 2028, up from approximately 5,500 units by the end of 2024. This was announced at the 20th Hotel Investment Conference – South Asia (HICSA) in Mumbai, where Ascott CEO Mr Kevin Goh delivered a keynote on ‘Redefining Global Living’.

Mr Kevin Goh, Chief Executive Officer, Ascott said: “India is an important inbound and outbound market for Ascott, with strong growth potential as it continues to evolve into one of the world’s largest economies. With a rapidly growing middle class, increasing disposable incomes and improving infrastructure, India’s dynamic economic landscape is unlocking immense opportunities for its travel and hospitality sectors. Despite promising prospects, the supply of branded hotel rooms in India remains limited[1], creating a significant demand-supply gap that opens up tremendous potential for Ascott to contribute to the country’s hospitality growth.”

During the Hotel Investment Conference – South Asia (HICSA) 2025, Ascott signed its third management agreement in India this year for the 150-key Oakwood Sensation Dona Paula Goa. Set in the picturesque Dona Paula, a popular tourist destination known for its scenic beauty and iconic jetty overlooking the Arabian Sea, the property will cater to bleisure travellers from 2028. Pictured: Mr Kevin Goh, CEO of The Ascott Limited (right), with Mr Bhavishya Gupta, Chairman of Sensation Infracon Pvt. Ltd.
During the Hotel Investment Conference – South Asia (HICSA) 2025, Ascott signed its third management agreement in India this year for the 150-key Oakwood Sensation Dona Paula Goa. Set in the picturesque Dona Paula, a popular tourist destination known for its scenic beauty and iconic jetty overlooking the Arabian Sea, the property will cater to bleisure travellers from 2028. Pictured: Mr Kevin Goh, CEO of The Ascott Limited (right), with Mr Bhavishya Gupta, Chairman of Sensation Infracon Pvt. Ltd.

“As diverse demand drivers fuel India’s hospitality sector, Ascott is well-positioned to capitalise on this growth with our flex-hybrid model that seamlessly adapts to shifting demand across both transient and extended stays. This competitive edge is reinforced by Ascott’s multi-typology brand strategy, enabling us to serve every type of guest with a diverse portfolio ranging from select- to full-service operations. Backed by the in-market expertise of our local team in India, we are confident in delivering exceptional value to our owners while enhancing the guest experience. As we strengthen our brand presence in India, we believe the country will become a key source market for Ascott’s properties worldwide,” added Mr Goh.

Mr Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott, said: “Moving forward, our growth strategy in India will be driven by a dual focus on geographic and brand expansion. Currently, 85% of Ascott’s operating portfolio in India are concentrated in Tier-1 cities such as Bangalore, Chennai and Hyderabad. We will continue to strengthen our presence in these high-performing Tier-1 cities, while also expanding our focus on the fast-growing Tier-2 and Tier-3 cities. This strategy is driven by growing interest in India’s lesser-travelled destinations and the significant under-penetration of branded hotels in these cities.”

“In addition to growing our Ascott, Citadines, Oakwood and Somerset brands already in India, we look forward to launching more of our multi-typology brands here. We see strong potential in introducing lyf, our experience-led social living brand, to tap into the rise of India’s urban millennial and Gen Z workforce, along with the growing digital nomad trend. As demand for flexible, community-focused stays grows, lyf aligns perfectly with India’s next-gen travellers. Furthermore, our collection brands, The Unlimited Collection and The Crest Collection, are poised to meet the rising demand for immersive cultural and heritage experiences in India, turning stays into unforgettable journeys,” added Mr Lee.

Tapping on the demand for flexible, community-focused stays, Ascott is introducing lyf, an experience-led social living brand to support the rise of India's urban millennial workforce. lyf was first launched in Singapore in 2019 with the opening of lyf Funan Singapore. The brand is today present in 24 cities around the world.
Tapping on the demand for flexible, community-focused stays, Ascott is introducing lyf, an experience-led social living brand to support the rise of India’s urban millennial workforce. lyf was first launched in Singapore in 2019 with the opening of lyf Funan Singapore. The brand is today present in 24 cities around the world.
Leveraging opportunities to connect with industry partners and owners, Ascott’s development team was present at the Hotel Investment Conference-South Asia (HICSA) in Mumbai this week to showcase the group’s portfolio of brands while expanding on business opportunities.
Leveraging opportunities to connect with industry partners and owners, Ascott’s development team was present at the Hotel Investment Conference-South Asia (HICSA) in Mumbai this week to showcase the group’s portfolio of brands while expanding on business opportunities.



Leveraging opportunities to connect with industry partners and owners, Ascott’s development team was present at the Hotel Investment Conference-South Asia (HICSA) in Mumbai this week to showcase the group’s portfolio of brands while expanding on business opportunities.

Year-To-Date Signings in India
In line with its geographical expansion strategy in India, Ascott has successfully secured three new signings in key Tier-2 and Tier-3 cities year-to-date, underscoring its commitment to tapping into emerging markets and meeting the growing demand for high-quality accommodations. Ascott is strengthening its presence in Goa, a prominent Tier-2 city and top leisure destination, with the signing of the 150-key Oakwood Sensation Dona Paula Goa. Located in Dona Paula, a popular tourist destination renowned for its scenic beauty and the iconic jetty offering panoramic views of the Arabian Sea, the property is conveniently close to Goa Dabolim Airport. It is also within easy reach of Panjim, the state capital and commercial hub, as well as Goa University and Goa Medical College. Leveraging Oakwood’s strength in catering to bleisure travel, the property will offer exceptional comfort for all types of stays. With a wide range of room configurations, in-house F&B outlets and meeting spaces, Oakwood Sensation Dona Paula Goa is designed to meet the needs of both short and long stays, ensuring a seamless blend of business and relaxation. The property is slated to welcome guests from 2028.

This signing joins the earlier announced Oakwood Thanjavur and Oakwood Ekana Sportz City Lucknow. Similar to Oakwood Sensation Dona Paula Goa, Oakwood Thanjavur is a collaboration between Ascott and Sensation Hospitality Avenues. Set to open in 2028, it will mark Ascott’s debut in Thanjavur, a Tier-3 city known as a vibrant artistic hub. The 100-unit property will showcase Ascott’s commitment to providing culturally immersive stay experiences in key emerging destinations across India.

Opening at the end of 2029, Oakwood Ekana Sportz City Lucknow is in Lucknow, the capital of Uttar Pradesh and a rapidly growing Tier-2 city undergoing significant infrastructure development. Situated within Ekana Sportz City, which boasts world-class sporting venues like the Ekana Cricket Stadium, along with residential, commercial, hospitality and medical facilities, the 350-unit Oakwood property will offer premium hospitality to sports enthusiasts, corporate travellers and leisure guests. This signing marks Ascott’s inaugural partnership with Ekana Infra Projects and its first venture into Lucknow, underscoring its commitment to expanding in emerging, high-potential markets.

Leveraging India’s Growing Outbound Market Potential
As India experiences rising economic prosperity, growing middle-class incomes and a surge in aspirational travellers, it is rapidly emerging as a key outbound source market for leisure travel. With the country’s population surpassing 1.4 billion and a median age of just 27.6, India is positioned for significant growth in consumption, with leisure and recreation spending set to double by 2030, according to a 2023 report by McKinsey & Company.

To tap into this potential, Ascott is leveraging its diverse portfolio of 14 brands across multiple typologies to attract Indian travellers to experience its global network of properties. In February 2025, Ascott’s global sales team made a strong showing at SATTE (South Asia’s Travel & Tourism Exchange), engaging with a wide range of domestic and international buyers from across the travel, tourism and hospitality industry to drive new business opportunities.

Strategic Expansion and Upcoming Openings in India
In 2024, Ascott marked significant milestones in its expansion in India with the opening of its first property in a Tier-2 city, Citadines Arpora Nagoa Goa, in Goa, followed by the signing of Citadines Sec 21C Faridabad in the growing city of Faridabad. This expansion was complemented by continued growth in Tier-1 cities, with the signing of Oakwood Navi Mumbai and Oakwood Electronic City Bangalore, alongside the opening of Citadines Paras Square Gurugram.

Looking ahead to 2026, Ascott expects to grow its operational portfolio in India by almost 60%, expanding from the current seven to 11 properties. This includes the debut of Ascott Ireo City Gurugram, marking the inaugural property under the company’s namesake Ascott brand in India. Strategically located in the heart of Ireo City, this property will capture the vibrant, modern spirit of Gurugram, further enhancing Ascott’s footprint in India’s key urban centres.


[1] Source: “India’s Hotel Supply Crunch Set to Push Room Rates Higher”, Skift, 9 January 2025

Hashtag: #TheAscottLimited




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

About The Ascott Limited

The Ascott Limited (Ascott) is driven by a vision to be the preferred hospitality company, enriching global living with heartfelt experiences. With a portfolio of over 980 properties across more than 230 cities in over 40 countries, Ascott’s presence spans Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Its diverse collection of award-winning brands includes , , , , , , , , , , , , and .

Ascott specialises in managing and franchising a wide range of lodging options, including serviced residences, hotels, resorts, social living properties and branded residences, catering to the varying needs and preferences of global travellers. Through the loyalty programme, members enjoy exclusive privileges and curated experiences, enhancing every aspect of their travel journey.

As a wholly owned business unit of , Ascott generates fee-related earnings by leveraging its expertise in both lodging management and investment management. It also drives the expansion of funds under management by growing its sponsored and private funds.

For more information on Ascott and its sustainability programme, please visit . Alternatively, connect with Ascott on , , and .

About CapitaLand Investment Limited

Headquartered and listed in Singapore in 2021, (CLI) is a leading global real asset manager with a strong Asia foothold. As at 31 December 2024, CLI had S$136 billion of assets under management, as well as S$117 billion of funds under management held via stakes in seven listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in demographics, disruption and digitalisation-themed strategies. Its diversified real asset classes include retail, office, lodging, industrial, logistics, business parks, wellness, self-storage, data centres, private credit and special opportunities.

CLI aims to scale its fund management, lodging management and commercial management businesses globally and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand Group’s development arm. In 2025, CapitaLand Group celebrates 25 years of excellence in real estate and continues to innovate and shape the industry.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

GXS Bank launches the GXS Reno Club to make home renovations more affordable for consumers

SINGAPORE, April 10, 2025 /PRNewswire/ — GXS Bank today announced that it has launched the GXS Reno Club in its bid to revolutionise home renovation financing for consumers.

GXS Bank designed the GXS Reno Club to help homeowners looking to renovate their homes, which can often be one of the largest expenses of home ownership. According to the Bank’s data, GXS Bank customers set aside about S$15,000 on average for home improvements in 2024. With 17,000 owners expected to receive keys to their new build-to-order (BTO) flats in 2025 alone[1], the market is ripe for a solution that eases the financial burden of home renovations.

Each month, the first 1000 consumers who take up a GXS FlexiLoan instalment loan with a minimum amount of S$15,000 over a 12-month tenure will be eligible for the GXS Reno Club’s benefits. To be identified as a member of the GXS Reno Club, they will need to name their GXS FlexiLoan “RENOCLUB”.

The GXS Reno Club also combines the resources of the Bank and its ecosystem partners, Grab and Singtel, to make it more affordable for consumers to turn their property into their dream home.

A member of the GXS Reno Club will enjoy a preferential interest rate on their “RENOCLUB” GXS FlexiLoan and balances on their GXS Savings Account up to S$20,000. They can also access exclusive GXS Reno Club deals from Grab, Singtel and their partners. GXS Bank and its ecosystem partners will enhance and refine the benefits to the GXS Reno Club continuously and on an ongoing basis.

On creating a programme focused specifically on home renovation, Ms Jenn Ong, Head of Retail, GXS Bank said, “Renovating a home, or even parts of a home, can put a dent in your finances. According to Qanvast, the average renovation will cost S$35,000 to more than S$80,000 for an HDB flat in 2025[2]. Often, cash payment is required for these renovations. We created the GXS FlexiLoan with one question in mind: ‘Why should loans feel like shackles on your feet when it should help you soar?’. In the same spirit, the GXS Reno Club was born out of our intention to help homeowners build their dream home without feeling weighed down by the cost. By leveraging our ecosystem, we can help to make this significant life milestone more affordable for Singaporeans.”

GXS FlexiLoan, built for the renovation process

At the core of the benefits that GXS Reno Club members can enjoy is a preferential rate for GXS Bank’s flagship flexible personal loan product, the GXS FlexiLoan.

With the GXS FlexiLoan, customers can make multiple loan drawdowns from their approved loan amount without having to undergo a new application process each time they need financing support. What sets the GXS FlexiLoan apart as particularly suitable for renovation is that customers only need to repay the amount they draw down, instead of the full loan amount. This feature is particularly useful for home renovation projects, which often require payments at different stages.

When it comes to repayment, homeowners can also choose repayment terms that are most convenient for them. They also have the flexibility to repay their loan in installments or in full without any early repayment charges. This flexibility means they can save on interest charges and manage their cash flow more effectively during the renovation process.

GXS Reno Club, powered by the ecosystem

In celebration of the launch of the GXS Reno Club, GXS Bank, Grab and Singtel are rolling out a launch promotion. From 10 April 2025 to 30 June 2025, members of the GXS Reno Club will enjoy the following benefits:

  • Preferential interest rate on the GXS FlexiLoan: GXS Reno Club members drawing their first GXS FlexiLoan for renovations can enjoy a 1 per cent reduction on their interest rate for the first year with a minimum loan amount of S$15,000 over a 12-month tenure. This 1 per cent interest rate reduction will take the form of cashback and will be credited monthly across 12 months.
  • Enhanced savings: They can also earn an additional bonus interest of 0.8 per cent per annum for six months. The bonus interest will be credited on balances in the Main Account and Saving Pocket(s) of their GXS Savings Accounts, capped at S$20,000.
  • Exclusive ecosystem deals for their homes: Homeowners can enjoy up to S$100 off on home furnishings when using Grab’s PayLater or GrabPay at Harvey Norman, Prism+, and Gain City. Additionally, to unwind and relax in their newly-renovated dream homes, members will receive six months of free Amazon Prime subscription on cast.sg, Singapore’s only app marketplace which offers bundle discounts for multiple app subscriptions.

For more information on the GXS Reno Club, please visit https://www.gxs.com.sg/renoclub.

About GXS

GXS Bank is a digital bank focused on making banking better for the everyday consumer and businesses.

The Bank aims to improve financial inclusion and to drive financial revolution for its customers through the secure and ethical use of technology and data.

GXS Bank holds a banking licence issued by the Monetary Authority of Singapore. It is owned by a consortium consisting of Grab Holdings Inc. – Southeast Asia’s leading super app, and Singtel – Asia’s leading communications technology group.

As part of a regional network of digital banks, GXS Bank also works closely with GXBank, its digital bank subsidiary in Malaysia and Superbank, a digital bank in Indonesia.

[1] Source: HDB press release, January 2025

[2] Source: ‘How much will a 3-, 4-, and 5-room HDB flat renovation cost in 2025?’, Qanvast, January 2025

 

Sinopec and Aramco Sign Venture Framework Agreement to Expand Yanbu Refinery

Collaboration Aims to Build a World-Class Integrated Refining and Petrochemical Complex

YANBU INDUSTRIAL CITY, Saudi Arabia, April 10, 2025 /PRNewswire/ — On the 10th anniversary of the establishment of the Yanbu Refinery joint venture, China Petroleum & Chemical Corporation (“Sinopec,” HKG:0386) and Saudi Arabian Oil Company (“Aramco”) signed a venture framework agreement (“VFA”) to advance the Yanbu Refinery Expansion Project.

Sinopec and Aramco Sign Venture Framework Agreement to Expand Yanbu Refinery.
Sinopec and Aramco Sign Venture Framework Agreement to Expand Yanbu Refinery.

The project will leverage existing facilities to construct new units, including a large-scale mixed feed steam cracker of 1.8 million metric tons per year ethylene plant, a 1.5 million ton per year aromatics plant with associated downstream polyolefin units, enhancing integrated refining and petrochemical synergies and fostering an innovative, full-industry-chain ecosystem. Upon completion, the expansion will significantly boost production capacity for high-end petrochemical products, support Saudi Arabia’s industrial diversification strategy, and meet growing global market demand.

“The Yanbu Refinery stands as a testament to the strong friendship between China and Saudi Arabia, delivering robust economic benefits and advancing the petrochemical industry’s modernization,” commented Zhao Dong, Sinopec Group President. “This expansion will unlock greater synergies between Sinopec and Aramco, creating a world-leading integrated refining and petrochemical enterprise with global competitiveness. Together, we will contribute to a low-carbon energy transition.”

Aramco President & CEO Amin H. Nasser emphasized, “The Yanbu expansion agreement deepens Aramco’s strategic partnership with Sinopec. By prioritizing product innovation and diversification, we aim to reinforce Saudi Arabia’s leadership in the global energy and chemicals landscape while positioning Yanbu as a premier integrated refining and petrochemical hub.”

The Yanbu Refinery, a flagship collaboration under Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative, is located in Yanbu Industrial City, Saudi Arabia. The Yanbu Refinery spans 5.2 million square meters and processes 430,000 barrels per day of Saudi heavy crude oil, producing high-quality refined products and value-added chemicals for global markets. As a pivotal energy hub in the Middle East, the refinery has driven Saudi Arabia’s industrial modernization and international engagement.

The expansion project marks a new chapter in the partnership, combining technological innovation and industrial chain optimization to upgrade traditional energy cooperation models and explore sustainable development pathways.

The expansion project will integrate new ethylene, aromatics, and polyolefin units with existing infrastructure, elevating the complex’s refining-petrochemical integration capabilities and expanding production of high-performance materials. It will also incorporate advanced technologies and green innovations to support Saudi Arabia’s economic diversification and decarbonization goals.

CPA Australia: Hong Kong SMEs eager to innovate amid tougher financing conditions


HONG KONG SAR – Media OutReach Newswire – 10 April 2025 – CPA Australia’s latest Asia-Pacific (APAC) Small Business Survey 2024-25 reveals that the outlook for business growth this year for Hong Kong’s small and medium enterprises (SMEs) has slowed, though their hiring intentions remain strong. To combat uncertainties and rising competition, many are focusing on innovation and increasing their investment in artificial intelligence (AI).

(Left) Mr Cliff Ip Greater China Divisional Councillor 2025 from CPA Australia (Right) Mr Davy Leung, Deputy Chairperson of SME Committee 2025 from CPA Australia
(Left) Mr Cliff Ip Greater China Divisional Councillor 2025 from CPA Australia (Right) Mr Davy Leung, Deputy Chairperson of SME Committee 2025 from CPA Australia

The annual survey collected views from 4,236 small businesses in 11 markets across the Asia-Pacific region (including Singapore, Mainland China and Australia) to understand their business performance and outlook. The survey included 306 respondents from Hong Kong, with 65 per cent of the businesses surveyed reporting business growth in 2024, a notable rise from 57 per cent in 2023 and the strongest performance since 2017.

However, 57 per cent of respondents expect their business to grow in 2025, marking a sharp decline from last year’s 69 per cent growth projection. Confidence in Hong Kong’s broader economy mirrors this trend, with 68 per cent expecting economic expansion this year, down from 73 per cent in 2024.

Hong Kong Small Business Survey 2025 infographic EN Final

Mr Cliff Ip, a councillor on CPA Australia’s Greater China Divisional Council, said: “2024 was a positive year for most Hong Kong SMEs, thanks to an improving economy and various government support measures. However, this year, many SMEs are facing multiple challenges, including economic pressures, tightening financing conditions and increased market competition. As a result, business sentiment has become more cautious.

“Some sectors are still adapting to changes in consumer behaviour, such as the rise in online shopping and spending outside of Hong Kong. For SMEs to achieve sustainable development, it’s important to adopt a more proactive approach in embracing these trends.”

To remain competitive, Hong Kong SMEs are keen to innovate and expand into overseas markets. In 2025, 94 per cent of respondents intend to innovate their products or services, surpassing their regional counterparts for the second consecutive year. Additionally, 79 per cent expect revenue growth from overseas sales this year, the highest among the markets surveyed.

“It is encouraging to see that many Hong Kong SMEs are looking to grow their business through alternative sources, such as overseas sales. They should actively leverage government support programs such as E-commerce Express and SME Export Marketing Fund to accelerate business transformation. Meanwhile, given heightened geopolitical risks, SMEs need to stay alert to the risks and opportunities from policy changes, such as tariffs,” Mr Ip said.

The challenging financing conditions are noteworthy. In 2024, over 80 per cent of Hong Kong’s small businesses required external finance. However, 37 per cent found it difficult to access funds, up from 8 per cent in 2023. Additionally, the number of small businesses struggling to repay their debts rose from 9 per cent in 2023 to 22 per cent in 2024. The financing and solvency issues are likely to persist this year. In 2025, 40 per cent anticipate difficulty accessing finance, while 26 per cent expect they may struggle to repay debts.

“While banks remain the main source of external funding, many SMEs used their personal resources last year, marking a five-fold surge from 2023, due to tightened lending requirements. We therefore welcome the measures, announced this week by the Hong Kong Monetary Authority (HKMA) and the banking sector, to support SMEs obtain bank financing. To further assist SMEs in managing their liquidity needs, we suggest the Hong Kong government and financial institutions extend the Pre-approved Principal Payment Holiday Scheme for 12 months,” Mr Ip said.

“To sustain growth, SMEs should continuously innovate to stay competitive, closely monitor their cash flow, focus on high-growth business opportunities, diversify revenue streams, and seek professional advice on cost-saving measures. These strategies will help businesses navigate economic uncertainties and strengthen their long-term competitiveness.”

Employment trends in the SME sector remain strong. Last year, 42 per cent reported an increase in headcount, and 51 per cent expect to hire new staff this year.

The survey also highlights robust technology adoption among Hong Kong’s small businesses. In 2024, 80 per cent sold online, 83 per cent offer digital payment options and 95 per cent leverage social media. Notably, 41 per cent reported making a major investment in AI last year, marking it as a significant investment among other technologies. Another 26 per cent sought advice from AI tools.

Mr Davy Leung, Deputy Chairperson of CPA Australia’s Small and Medium Enterprises Committee – Greater China, said: “Hong Kong SMEs are facing labour shortages and talent competition issues, especially because many business owners are keen on hiring. This might be prompting them to invest heavily in advanced technologies such as AI and conversational platforms to interact with potential customers, improving efficiency and saving costs.

“It’s interesting that AI tools have become a popular source of advice for many SMEs in Hong Kong. There are pros and cons of consulting AI on doing business. While leveraging advanced technologies like AI reflects a positive attitude and open mindset towards trying new methods, it also increases cyber risks. Additionally, SMEs should not rely solely on AI and should seek advice from reliable professionals, especially on technical issues such as financing and taxation.

“Last year, 72 per cent of SMEs suffered financial or operational losses due to cyberattacks, ranking highest among all markets. This highlights urgent cybersecurity gaps that must be addressed. To safeguard SMEs from escalating cyber threats, the government should strengthen support programs by providing more funding for cybersecurity investments, offering practical training on cyber risk management, and enhancing information-sharing platforms.”

Hashtag: #CPAAustraliaHongKong


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

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with nearly 175,000 members in over 100 countries and regions, including more than 22,500 members in Greater China. CPA Australia is celebrating its 70th anniversary in Hong Kong this year. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on issues affecting the accounting profession and the public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at