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Yuexiu Transport records profit of RMB314 million for 1H2024, and pays HK$0.12 in interim dividend per share at payout ratio of nearly 60%


Results highlights:
Removing ice on roads to ensure smooth passage, thus narrowing loss and increasing revenue

  • Proactively coping with extreme weather by effectively preventing traffic congestion on roads, thus minimizing loss of toll revenue.
  • Having proactively planned ahead, Han’e Expressway successfully managed the traffic diverted due to the reconstruction and expansion of Wuhuang Expressway. As a result, its toll revenue saw a year-on-year increase of over 100%.

Implementing diverse measures to effectively reduce costs

  • Consistently optimizing debt structure by optimizing the weighted average financing rate and extending debt duration.
  • Sound financial position enables long-term, sustainable development.

GNSR Expressway reconstruction and expansion project (R&E Project) has entered a new phase

  • The GNSR Expressway R&E Project has obtained approval for land and construction permit from relevant authorities. Construction works were in full swing.
  • The R&E Project can bolster the Group’s most important revenue-generating asset, and strengthen its premium asset in the Greater Bay Area, thereby helping to sustain the project’s operation.

HONG KONG SAR – Media OutReach Newswire – 6 August 2024 – Yuexiu Transport (01052.HK) announced 2024 interim results and recorded revenue of RMB1,827 million, representing a year-on-year decrease of 5.6%. Profit attributable to shareholders was RMB314 million. The decrease in profit attributable to shareholders during the Period was due to adverse factors such as extreme weather conditions caused by snow and ice, an increase in toll-free holidays, and the expiration of the toll collection right for the Northern Ring Road.

The Company remains committed to a stable dividend policy, actively rewarding shareholders and sharing its development success with them. The Board has recommended the payment of an interim dividend for 2024 of HK$0.12 per share, equivalent to an interim payout ratio of 58.5%.

Removing ice on roads to ensure smooth passage, thus narrowing loss and increasing revenue
In the first half of 2024, extreme snow and icy weather conditions significantly affected highway operations across Central and Eastern China. To combat these challenging conditions, the Group made an all-out effort and implemented a “Closure at Night, Opening in the Morning” operation strategy to minimize disruptions to traffic flow and ensure the safety of travelers. There were no instances of prolonged, large-scale congestion during the Period, effectively mitigating toll revenue losses. Despite the extreme weather conditions, the overall performance of the Group’s projects in Hunan and Hubei provinces outperformed the provincial average of highways during the Period.

Starting from 10 May, the Wuhuang Expressway, which runs parallel to the Han’e Expressway, underwent a 965-day closure for reconstruction and expansion. The Group proactively implemented measures to prevent traffic congestion and ensure smooth passage, enabling the Han’e Expressway to successfully manage the divseron of traffic from the Wuhuang Expressway. As a result, from 10 May to 30 June, the toll revenue of Han’e Expressway boasted a significant year-on-year increase of over 100%.

Optimizing financial structure through diverse measures
The Group continued to streamline its financial structure through diverse measures, and successfully optimized both financial costs and debt durations. In the first half of 2024, finance costs decreased by 12.2% year on year to RMB249 million, and the weighted average financing rate at the end of the Period aslo dropped by 0.32 percentage points compared to the end of 2023. The Group’s asset-liability ratio was 59.1%, down by 0.2 percentage points from the end of 2023. The Group’s debt duration was extended from 3.27 years at the end of 2023 to 3.88 years at the end of the Period.

GNSR Expressway R&E Project entering a new phase
On 29 April 2024, the land for the GNSR Expressway R&E Project was approved by the Ministry of Natural Resources. Later, on 20 June, the construction permit was granted by the Department of Transport of Guangdong Province. With all necessary pre-construction procedures completed, the construction of the R&E Project is currently in full swing, with overall progress meeting expectations.

The GNSR Expressway R&E Project will bolster the Group’s most important revenue-generating asset and is expected to extend the toll operating period of the GNSR Expressway, enabling the Group to continue to benefit from the development of the Greater Bay Area.

Under the guidance of the “3331” development strategy, Yuexiu Transport is poised to strengthen its presence as a transport infrastructure asset management company
With strong roots in the Greater Bay Area and Central China, and benefiting from other developing areas poised to continued urbanization and industrialization, the Group will continue to refine its integrated business strategy of “investment, financing, operation, and divestment”. By establishing an incubation platform to secure quality assets and leveraging the domestic infrastructure REITs platform, the Group aims to dynamically adjust and continuously optimize its asset portfolio through the synergistic interaction among the incubation platform, infrastructure REITs platform and listed company platform, so as to create greater value for shareholders.

Hashtag: #YuexiuTransport

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

Laos, Vietnam to Enhance Disaster Preparedness with Digital Innovation

Laos, Vietnam to Enhance Disaster Preparedness with Digital Innovation
President of the Vietnam Academy of Science and Technology (VAST) Chau Van Minh (L) and Lao Minister of Technology and Communications Boviengkham Vongdara exchanges the minutes of cooperation. (Photo Credit: VNA)

Laos and Vietnam have formalized agreements to enhance disaster management capabilities by establishing data and communication centers.

Computacenter certified among the Best Places to Work in Romania for 2024-2025


CLUJ-NAPOCA, ROMANIA – Media OutReach Newswire – 6 August 2024 – Computacenter recently received the Best Places to Work certification for 2024 in Romania. This prestigious recognition was awarded following a comprehensive assessment that included employee surveys covering areas such as engaging leadership, compensation and benefits, workplace environment, and corporate social responsibility. The evaluation also examined the company’s overall people strategy. The certification highlights Computacenter’s dedication to creating an outstanding work environment for its people in Romania and its commitment to their well-being.

Mihai Nadăș, Managing Director, Romania at Computacenter commented “I am incredibly humbled by the achievements of our growing community of professionals here in Romania. This award is not just a recognition but a testament to the exceptional culture and environment we’ve built here. At Computacenter we work hard to maintain our can-do culture, enabling people to bring their best selves to work effectively delivering value and success for our customers.”

Alexandra Boroș, Director of Human Resources, Romania at Computacenter said “I am incredibly proud of our team. This recognition reflects the hard work and dedication we put into creating an environment where everyone feels valued and supported. We are committed to continuously improving our workplace to ensure that our people have the best possible experience.”

For more information about the Best Places to Work certification, please visit www.bestplacestoworkfor.org
Hashtag: #BestPlacesToWork

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

About Computacenter

Computacenter is a leading independent technology and services provider, trusted by large corporate and public sector organisations. We are a responsible business that believes in winning together for our people and our planet.

We help our customers to Source, Transform and Manage their technology infrastructure to deliver digital transformation, enabling people and their business.

Computacenter plc is a public company quoted on the London Stock Exchange (CCC.L) and a member of the FTSE 250. Computacenter employs over 20,000 people worldwide.

For more information about Computacenter, please contact: Alexandra Boroș,

First Lao Nationals Certified as Train Drivers by Lao-China Railway

The certificate ceremony (Photo: Pathedlao)

On 5 August, the Lao-China Railway awarded driver certificates to 14 Lao nationals who successfully completed a self-driven test. This certification ceremony marks the first time Lao citizens have received this recognition.

Hang Lung Unveils the Grand Hyatt Kunming at Spring City 66

Brings a New Chapter of Luxury Living in “Spring City”


HONG KONG & KUNMING, CHINA – Media OutReach Newswire – 6 August 2024 – Hang Lung Properties (SEHK stock code: 00101) (“Hang Lung” or “the Company”) is pleased to announce the grand opening of Grand Hyatt Kunming at Spring City 66. An integral part of Spring City 66, the new hotel marks a milestone collaboration with the global hospitality group and reaffirms the leadership of Hang Lung’s Mainland portfolio as the “Pulse of the City”.

(From left) Mr. Symon Bridle, Consultant – Hotel of Hang Lung Properties; Mr. Stephen Ho, President Greater China and Growth, Asia Pacific at Hyatt Asia Pacific; Ms. Jiang Xiao Qing, Deputy District Mayor of Panlong District of Kunming; Mr. Derek Pang, Senior Director – Mainland Business Operation of Hang Lung Properties and Mr. Louis Low, General Manager at Grand Hyatt Kunming, officiate at the grand opening ceremony of Grand Hyatt Kunming
(From left) Mr. Symon Bridle, Consultant – Hotel of Hang Lung Properties; Mr. Stephen Ho, President Greater China and Growth, Asia Pacific at Hyatt Asia Pacific; Ms. Jiang Xiao Qing, Deputy District Mayor of Panlong District of Kunming; Mr. Derek Pang, Senior Director – Mainland Business Operation of Hang Lung Properties and Mr. Louis Low, General Manager at Grand Hyatt Kunming, officiate at the grand opening ceremony of Grand Hyatt Kunming

Mr. Weber Lo, Chief Executive Officer of Hang Lung Properties, said,“We are thrilled to launch Grand Hyatt Kunming in partnership with Hyatt, reinforcing our commitment to ‘Bring the Best to Kunming; Showcase the Best of Kunming to the World’. The opening further strengthens Spring City 66’s leadership as a premier lifestyle destination in Southwest China and injects new energy into the city’s travel, lifestyle, and business sectors, creating compelling spaces that enrich lives.”

Grand Hyatt Kunming, which seamlessly connects to Spring City 66, injects new energy into the city’s travel, lifestyle, and business sectors
Grand Hyatt Kunming, which seamlessly connects to Spring City 66, injects new energy into the city’s travel, lifestyle, and business sectors

Located at the heart of Kunming, Spring City 66 is a high-end commercial complex that encompasses a world-class shopping mall, a 66-story Grade A office tower, Grand Hyatt Kunming and Grand Hyatt Residences. Since opening its doors in 2019, Spring City 66 has brought many first-tier international luxury brands and multinational companies to Kunming, establishing itself as the city’s hub of luxury and diverse lifestyle experiences, stimulating the local economy.
Promising a distinctive design, innovative culinary experiences, and first-class service, the Grand Hyatt Kunming, which seamlessly connects to Spring City 66, offers discerning business and leisure travelers access to 331 guestrooms and suites.
Mr. Stephen Ho, President Greater China and Growth, Asia Pacific at Hyatt Asia Pacific, said, “With a focus on delivering elevated experiences in iconic destinations, we are excited to introduce the Grand Hyatt brand to the beautiful city of Kunming. This opening is a splendid addition to Hyatt’s luxury portfolio, and its central location provides guests with the perfect opportunity to discover all the city has to offer.”

The hotel’s design draws inspiration from Yunnan’s extraordinary natural beauty and cultural heritage, and its magnificent lobby is a dramatic abstract expression of local scenic terraced landscapes
The hotel’s design draws inspiration from Yunnan’s extraordinary natural beauty and cultural heritage, and its magnificent lobby is a dramatic abstract expression of local scenic terraced landscapes

Created by Shanghai-based MQ Studio and Tokyo-based Nao Architects, the Grand Hyatt Kunming’s modern design draws inspiration from Yunnan’s landscapes and cultural heritage. Incorporating local colors, textures, and ethnic crafts, every detail of the hotel’s interior spaces creates a visual connection with Yunnan’s trademark diversity and natural beauty.
The hotel’s key features include:
  • Opulent guestrooms from 45 sq. m. with panoramic views and local touches;
  • Spacious corner rooms with 270-degree views and Grand Club guestrooms with access to the exclusive Grand Club lounge;
  • Five distinct dining and drinking venues offering the best of both modern gastronomy and traditional Yunnan dishes;
  • A 25-meter indoor pool, two luxurious spa suits, and a well-equipped fitness center;
  • Over 1,900 sq. m. of versatile event spaces equipped with advanced audio-visual technology, including a 800 sq. m. high-ceiling ballroom, multifunctional halls, and salons;
  • Sustainable buildings designed to LEED™ Gold Pre-Certification requirements, achieving world-class standards in carbon reduction and environmental protection.

Spring City 66, in collaboration with Grand Hyatt Kunming, are offering HOUSE 66 members and hotel guests bespoke privileges and discount services. Additionally, selected HOUSE 66 members will enjoy exclusive room rates.

Hashtag: #HangLung #GrandHyattKunming #SpringCity66

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

About Hang Lung Properties

Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.

At Hang Lung Properties – We Do It Well.

For more information, please visit .

It’s SG59! Snag Deals on Singapore’s Finest on iShopChangi

Singapore turns 59! Party it up with unbeatable deals of up to 59% off, and revel in the best of homegrown brands with iShopChang! From exclusive offers and discounts on local brands to sitewide festive steals, it’s time to celebrate big and save big!


SINGAPORE – Media OutReach Newswire – 6 August 2024 – From 1 to 31 August 2024, travellers and non-travellers can join in the celebration of Singapore’s 59th Birthday with exclusive offers and discounts on local brands spanning homegrown fashion, artisan fragrances, and mouthwatering Singaporean snacks on iShopChangi. Uncover hidden gems and indulge in the distinct flavours of Singapore through curated selections of electronics, beauty products, fashion, and travel exclusives. Also, elevate your gifting with personalised wrapping services and expedite your delights with On-Demand Delivery. But that’s not all! Snag a designer reusable grocery bag—created in collaboration with local designer Wheniwasfour—or free spirits in collaboration with Compendium Spirits. Plus, don’t miss the chance to win big with the Otter Treasure Hunt!

Snag Deals on Singapore’s Finest on iShopChangi!
Snag Deals on Singapore’s Finest on iShopChangi!

Celebrate Local Brands this August

Throughout August, immerse yourself in Singapore’s 59th National Day festivities and #GoLocal with fantastic savings of up to 59% off on local must-haves. From the artisanal scents of Singapore Memories to the innovative skincare solutions by Dr. Ora, Blé de Fonty, HEURE, ést.lab, and more, cart out exceptional finds from premium Singaporean brands.

Ready to shop till you drop? Grab these exclusive promo codes below

8.8 Flash Sale (Non-Travellers Only)
From 1 August – 11 August 2024
Code Description
NDP12 12% off* with no min. spend, capped at S$59
National Day Sale (Non-Travellers Only)
From 12 August – 31 August 2024
Code Description
NDP20 20% off* min. spend S$500, capped at S$180
National Day Sale (Travellers Only)
From 1 August – 31 August 2024
Code Description
SG12 12% off* min. spend S$150, capped at S$80

*T&Cs apply

Radiance-Enhancing Wellness Picks

Unlock the secrets to perpetual radiance and vigour with Dr. Ora’s Traveler Kit Bundle. Perfect for maintaining your radiance wherever your adventures take you, grab this glow-getting kit for just S$60.64 after a 20% discount, and get a free tumbler to keep your glow on the move.

Renowned for its award-winning, Science-backed liquid collagen drinks that blend effectiveness with refreshing flavours, get your hands on the [Bundle of 3] Kinohimitsu Collagen Diamond 10’s. At just S$93, thanks to a 44% discount, rejuvenate your skin’s youthful bounce with this premium elixir that packs a powerful punch with 5300mg of Collagen Peptide.

Fashion Finds for Sophisticated Styles

Known for crafting luxurious, timeless handbags with butter-soft leathers and exotic skins for modern women, make a statement with LING WU’s Roll 26 Corrugated Biscuit Clutch, now at a stylish price of S$428.

Embrace your inner fashionista by accessorising with the GNOME & BOW Dryna Crossbody Sling Handbag. Available for just S$349 after a chic 22% discount, add a touch of class while celebrating a local designer bag label inspired by storybook adventures.

Glow-on-the-Go Essentials

Firm, revitalise, and even out your skin tone for a luminous complexion with Blé de Fonty’s Firming & Moisturising Night Beauty Pearls. Lather yourself in this premium serum from a brand that has been delivering quality and innovation since the 1970s for just S$44.25, boasting a 25% discount.

For those who cherish unique fragrances, fill your home with the verdant lushness and spirit of the Garden City with Red Dot by Singapore Memories, offering an aromatic experience inspired by Singapore itself, available at a celebratory price of S$21.80.

Wind down your day with the Powder Shampoo’s Relaxing Night Body Foam Wash, priced at just S$28.80, marked down by 10%. Crafted with Butterfly Pea Flower, Lavender, and Chamomile, enjoy The Powder Shampoo’s 100% nature-derived formulation.

Local Flavours Galore

Amp up your munchies with the IRVINS Singapore-themed Classic Box, a tasty tribute to Singapore’s iconic skyline. For just S$19.90, dig into local faves like Salted Egg Fish Skin and Potato Chips, plus their spicy counterparts—Hot Boom Spicy Salted Egg Fish Skin and Potato Chips—that have taken the world by storm.

For a crunch that’s off the charts, grab Shermay’s Keropok Packet All In One Party Set. Dive into three sets of crackers, all for S$87.52, to have a taste of local flavours and recipes that have stood the test of time.

That’s not all! Celebrate National Day in style with iShopChangi’s exclusive gift-wrapping service*, featuring a selection of elegant gift boxes to add a sophisticated touch to your gifts. Plus, enjoy the convenience of rapid On-Demand Delivery—order by 6PM (Monday – Saturday) and receive your items within just 4 hours, ensuring your celebrations are as splendid and stress-free as possible.

*Visit iShopChangi’s website for more details.

Shop to Score Exclusive Rewards and Cool Gifts

This National Day is not only about snapping up exceptional deals on iShopChangi for both travellers and non-travellers! Shop your favourites and spend a minimum of S$300 to receive an exclusively designed reusable grocery bag by local artist Wheniwasfour.

Adding a dash of local flavour to your purchases, iShopChangi partners with Compendium Spirits to offer a delightful twist for non-travellers. With any spend on wines and spirits from 1 to 11 August, you can redeem a complimentary Ah Ma cocktail from one of their outlets (either at Jewel or Boat Quay). Redemption period lasts till 31 August.

Get Set for a National Day Adventure with the Otter Treasure Hunt!

But wait, there’s more!

From 5 to 8 August, join the quest to spot the correct number of hidden otters on the iShopChangi website and DM us at Instagram @iShopChangi. Sharpen your eyes—59 sharp spotters will earn S$59 in iShopChangi credits each.

Ready, set, search—may the best otter enthusiast win!

Level Up Your National Day Perks

There’s more for newcomers! For new iShopChangi shoppers, the rewards start immediately. Use the promo code <ISCNEW20> at checkout with a minimum spend of S$79 to enjoy an extra S$20 off your first purchase.

Worried about delivery? As a non-traveller, you can cart out at tax-absorbed prices on iShopChangi and have your items delivered to you for free when you spend at least S$59 and provide a Singapore residential address for delivery. Alternatively, pick up selected products from the Jewel Collection Centre.

Travelling around the world? Enjoy the ultimate convenience and flexibility by shopping up to 30 days in advance and as close as 12 hours before your flight. Collect your order at the various Departure and Arrival Collection Centres. Alternatively, have it conveniently delivered to a local residential address for free with a minimum spend of S$59; an S$8 delivery fee applies for orders below S$59.

Hashtag: #iShopChangi




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

iShopChangi

iShopChangi was launched in 2013 as an extension of Changi Airport’s promise to deliver greater comfort and convenience to travellers in its suite of airport retail offerings. Passengers can browse and purchase tax- and duty-free products across all terminals between 30 days to 12 hours pre-flight on the e-store – and choose to collect their items at Collection Centres within departure, upon arrival or have them delivered free in Singapore. Providing easy access to over 30,000 products across 900 brands and exclusives such as Changi First product launches, the site has since received global recognition with its award for Best Website – Retail Customer Facing at The Moodies: the Airport and Travel Retail Digital Media Awards 2018. In early 2020, the e-commerce store started to retail a selection tax- and duty-absorbed products to Singapore-based residents without the need to fly.

Singapore Fintech Deal Activity Rises Amid Declining Investments; Cryptocurrency, Blockchain, and Payments Lead Funding


KPMG Pulse of Fintech – H1’24

  • Singapore’s fintech deal count rose by 19 percent to 117 deals in H1’24, but total deal volume fell 34 percent to US$522.89 million in H1’24 amid economic uncertainties.
  • Investment in cryptocurrency and blockchain in Singapore surged 22 percent to US$211.90 million across 72 deals.
  • Global payments accounted for the largest proportion of fintech investment in H1’24, attracting US$21.4 billion.
  • Global regtech saw US$5.3 billion in investment—exceeding 2023’s annual high mid-year.
  • The Americas attracted the lion’s share of fintech investment in H1’24, with US$36 billion.


SINGAPORE – Media OutReach Newswire – 6 August 2024 – The first half of 2024 demonstrated resilience and adaptability within Singapore’s fintech market, with significant growth in deal activity. Deal activity surged by 19 percent, reaching 117 deals across venture capital (VC), private equity (PE), and mergers & acquisitions (M&A) in H1’24, compared to H2’23 – according to the latest edition of KPMG’s Pulse of Fintech for H1’24. This period saw Singapore fintechs raising US$522.89 million, reflecting a 34 percent decrease from US$790.10 million across 98 deals in H2’23. On the global stage, fintech investment fell from US$62.3 billion across 2,287 deals in H2’23 to US$51.9 billion across 2,255 deals in H1’24.

The increased caution among investors, driven by high interest rates and economic uncertainties, has resulted in a tighter funding environment. Consequently, there is a noticeable shift towards smaller, early-stage investments rather than large-scale deals. In Singapore, this trend is evident with 52 early-stage deals, 32 seed rounds, 25 later-stage investments, and 5 M&A transactions recorded.

“The reality is that the overall global investment total for the first half of the year was buoyed by a handful of large deals, several of which were take privates aimed at avoiding significant or further valuation loss,” said Anton Ruddenklau, Global Head of Fintech and Innovation, Financial Services, KPMG International. “Meanwhile, the volume of early-stage deals globally has been thriving both because of the interest in new technologies, such as AI applications, and newer business models to meet the changing nature of the financial services sector. The rise of “platforms” continues to gain momentum as decentralisation, data aggregation and ecosystem connectivity becomes mainstream.”

Cryptocurrency & Blockchain, Payments and AI Segments Dominate Deal Activity

Reflecting a cautious investment approach, blockchain and digital assets have seen increased regulatory scrutiny. The cryptocurrency and blockchain segments of Singapore’s fintech market recorded US$211.90 million across 72 deals in H1’24, a 22 percent uptick from the US$166.30 million over 38 deals recorded in H2’23. Singapore has been focused on developing and enhancing robust risk management frameworks for digital asset tokenisation, recently announcing an initiative to scale asset tokenisation within financial services.

Globally, crypto and blockchain stabilised at US$3.2 billion, despite previous declines. While deal sizes were relatively small, deal volume remained good, with 677 deals completed during H1’24 — well on pace to exceed the number of deals seen last year by a solid margin.

The payments segment in Singapore secured the second-highest investment attracting US$80.20 million across 10 deals in H1’24, though this marked a 78 percent decline from US$142.65 million across 14 deals in H2’23. Notably, the largest payments deal in the ASPAC region involved a US$50 million venture capital raise by Singapore-based B2B payments platform Nium. Singapore’s payments activity includes dynamic payment architectures and cross-border payment solutions and embedded payments solutions On a global scale, the payments segment led fintech investment in H1 2024, drawing US$21.4 billion.

AI funding saw stabilisation following its surge in H2’23, with investments falling to US$65.62 million across 10 deals in H1’24, down from US$333.13 million over 14 deals. The AI segment, characterised by complex technologies that necessitate substantial upfront investment and longer return timelines, has faced increased regulatory scrutiny. This scrutiny has slowed the deal-making process as companies and investors adapt to new compliance requirements and economic uncertainties.

H1 2024 H2 2023 H1 2023
Deal size
US$ (million)
No of deals Deal size
US$ (million)
No of deals Deal size
US$ (million)
No of deals
Reg Tech $2.2 2 $12.80 3 $1.3 2
Insur Tech $35 2 $284.10 4 $4.1 1
WealthTech $35 2
Proptech $0.50 2 $0.2 1
Cybersecurity $3 2 1 $0.1 1
Payments $80.20 10 $142.65 14 $43.49 10
Crypto $211.90 72 $166.30 38 $460.50 50
AI & ML deals $65.62 10 $333.13 14 $148.08 10

Figure 1: Singapore’s fintech segment deal values and volume for H1 2024 to H1 2023

Optimism for 2025 Amid Fluctuating Fintech Investments

Over the past five years, the fintech sector in Singapore has experienced notable fluctuations. The period before the pandemic saw slowing deal-making, followed by a post-pandemic surge, peaking at US$3.27 billion in H1’22. However, recent economic headwinds have tempered this momentum, leading to smaller deal sizes and slower large-scale funding. Despite this, there is optimism for 2025, with expectations of a backlog of fintech deals potentially rejuvenating the investment landscape.

Global fintech mega-deals shrink while regional activity shows optimism

Globally, only five US$1 billion+ fintech deals occurred in H1’24, including the buyouts of US-based Worldpay for US$12.5 billion, Canada-based Nuvei for US$6.3 billion, US-based EngageSmart for US$4 billion, UK-based IRIS Software Group for US$4 billion, and Canada-based Plusgrade for US$1 billion. The largest VC deal was a US$999 million raise by UK-based Abound.

Despite the decline in total investment, regional deal volume showed promise. While deal volume globally dipped slightly, the decline was driven entirely by a decline in deal volume in EMEA—from 804 in H2’23 to 689 in H1’24. Comparatively, the Americas saw deal volume rise from 1,066 to 1,123, while ASPAC saw it rise from 406 to 438 in ASPAC, suggesting underlying resilience.

“The high cost of capital and geopolitical uncertainty linked to conflict and elections, have put a significant damper on all global investments so far this year, and the fintech market isn’t immune to that,” said Karim Haji, Global Head of Financial Services, KPMG International. “Investors are acting cautiously, not only when it comes to large transactions, particularly on the M&A front, given concerns about valuations and the profitability of potential targets, investors are focussed on improving the companies they already own rather than buying new.”

Global Key Highlights

  • Total global investment in fintech fell from US$62.3 billion across 2,287 deals in H2’23 to US$51.9 billion across 2,255 deals in H1’24.
  • In the Americas, total investment fell from US$38.5 billion to US$36.7 billion between H2’23 and H1’24—including from US$35 billion to US$27.4 billion in the US— while in EMEA it fell from US$19.1 billion to US$11.4 billion, and in ASPAC it dropped from US$4.6 billion to US$3.7 billion.
  • Fintech deal volume in the Americas rose from 1,066 to 1,123 deals between H2’23 and H1’24—including from 866 to 916 deal in the US—while it rose from 406 to 438 deals in ASPAC; deal volume dropped in the EMEA region from 804 to 689 deals.
  • Global M&A deal value was US$32.6 billion across 264 deals globally in H1’24. The Americas attracted US$26.8 billion across 130 deals, EMEA attracted US$5.5 billion across 102 deals, and ASPAC attracted US$310 million across 31 deals.
  • Global VC investment was US$18.3 billion in H1’24, of which the Americas saw US$9.3 billion—including US$7.6 billion in the US—EMEA saw US$5.4 billion, and ASPAC saw US$3.4 billion.
  • Global PE investment was just US$979.5 million in H1’24. The US accounted for all US$568.9 million in PE investment in the Americas, while EMEA saw US$402.8 million, and ASPAC saw just US$7.8 million.
  • Corporate CVC investment accounted for US$8.5 billion in VC investment in H1’24, including US$4.4 billion in the Americas (US$3.6 in the US), US$2.23 billion in the EMEA region, and US$1.7 billion in ASPAC.
  • Payments accounted for the largest proportion of fintech investment in H1’24, attracting US$21.4 billion.
  • Regtech investment reached US$5.3 billion at mid-year—already well ahead the US$3.4 billion seen during all of 2023.

1. Interest in AI heating up in fintech space
AI was quite hot in the eyes of fintech investors in H1’24, particularly in the Americas. The US in particular saw four large AI-focused deals; cyber insurance company Corvus was acquired by Travellers for US$427 million, compensation-focused platform Spiff was acquired by Salesforce for US$419 million, corporate management company Ramp raised a US$150 million VC round, and investment management platform FundGuard raised a US$100 million VC funding round. China-based AI-powered sustainability data company MioTech also raised a US$150 million VC round in H1’24.

2. After a slow 2023, investment in payments and regtech rebound
After a very quiet year of investment in 2023, both the payments sector and the regtech sector saw VC investment rebound quite solidly in H1’24. The payments space attracted US$21.4 billion in investment during H1’24, compared to the US$22.7 billion seen during all of 2023, while regtech attracted US$5.3 billion in investment, compared to just US$3.4 billion during all of 2023. Meanwhile, insurtech investment dried up significantly in H1’24—attracting US$1.6 billion in investment—less than one-quarter of the US$8.2 billion seen in 2023.

3. Americas sees small drop in fintech investment; number of deals rises
Fintech investment in the Americas was US$36.7 billion in H1’24—down slightly compared to the US$38.5 billion in H2’25. The US accounted for US$27.4 billion of this investment, including the US$12.5 billion acquisition of Worldpay by GTCR, the US$4 billion buyout of B2B customer engagement platform EngageSmart by Vista Equity Partners, the US$930 million acquisition of financial research firm Tegas by AlphaSense, and the US$685 million VC raise by capital markets platform company Clear Street.

Fintech investment in Canada reached a record high of US$7.8 billion for a six-month period in H1’24, driven by the US$6.3 billion acquisition of payments firm Nuvei by Advent International and the US$1 billion buyout of revenue solutions firm Plusgrade by General Atlantic. Meanwhile Brazil had a quiet quarter of fintech investment, attracting just US$616 billion in H1’24 compared to US$1.8 billion in H2’23.

4. ASPAC region sees slowest quarter of investment since Q3’17
Fintech investment in the ASPAC region fell from US$4.6 billion in H2’23 to $3.7 billion in H1’24. Much smaller deal sizes accounted for the decline, with a US$280 million VC raise by China-based capital markets solutions firm Yi’an Enterprise accounting for the largest deal of the quarter, followed by a US$209 million VC raise by India-based personal loan platform KreditBee, a US$195 million VC raise by Thailand-based digital financial solutions firm Ascend, and US$150 million VC raises by China-based ESG financial solutions firm MioTech and Australia-based performance management firm Camms.

5. EMEA region sees 40 percent drop in fintech funding
Fintech funding in the EMEA region fell 40 percent, from US$19 billion in H2’23 to just US$11.4 billion in H1’24. Continued geopolitical uncertainty, including elections in the EU, UK, and France, combined with the high interest rate environment kept investment quite subdued. The UK accounted for the largest share of fintech investment in the EMEA region (US$7.3 billion), including the US$4 billion buyout of financial software company IRIS Software Group by Leonard Green, the US$999 million VC raise by SMB marketplace platform Abound, and a US$621 million raise by neobank Monzo. Outside of the UK, the largest deals included the buyout of Italy-based payments firm Banco BPM Gruppo for US$652 million and the acquisition of Switzerland based e-invoicing company Pagero by Thomson Reuters.

6. Early-stage deals provide most optimism heading into H2’24
Fintech investment is expected to remain subdued in H2’24 given the high interest rate environment and resulting high cost of capital, in addition to the approach of the US presidential election. AI will likely be the hottest area of investment as startups work to tailor AI solutions specifically to the financial services sector. There is some optimism that deal volume will continue to increase, but average deal sizes will likely remain small compared to historical norms.

Hashtag: #KPMG

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

About KPMG International

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 273,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients. For more detail about our structure, please visit kpmg.com/governance.

Childpreneur Academy and Babington Education Announce Strategic Partnership to Expand Financial Literacy Education in the Greater Bay Area


HONG KONG SAR – Media OutReach Newswire – 6 August 2024 – Childpreneur Academy (Know Yourself Childpreneur Academy Limited) and Babington Education (Babington Education Organisation Limited) today announced a strategic partnership to jointly expand their financial literacy education and training business in the Greater Bay Area.

(Left) William Tse W.L., Corporate Consultant, Childpreneur Academy, (Middle) Sophia Man, Founder, Childpreneur Academy, (Right) Clifford Wan, Founder, Babington Education
(Left) William Tse W.L., Corporate Consultant, Childpreneur Academy, (Middle) Sophia Man, Founder, Childpreneur Academy, (Right) Clifford Wan, Founder, Babington Education

Childpreneur Academy, the Hong Kong-based financial education institute officially authorized by BCBS Brian Children’s Business School of Taiwan, has signed a strategic cooperation agreement with Babington Education, a leading English education provider. The two organizations will leverage their combined resources to drive the widespread adoption of financial literacy education.

“We believe that the ‘learn through play’ approach can help students master practical skills and build lasting memories,” said Sophia Man, Founder of Childpreneur Academy. “Our iMONEY financial literacy curriculum, recognized by Taiwan authorities and financial institutions, has trained over 100,000 students in the past decade.”

Childpreneur Academy’s award-winning financial literacy board game system will be integrated into Babington Education’s course offerings. This collaboration aims to instill the right financial values in children from an early age, establishing a solid foundation before they are exposed to investment tools.

“We are excited to work with Childpreneur Academy to bring their proven financial literacy education model to the Greater Bay Area,” said Clifford Wan, Founder of Babington Education. “By combining our resources and expertise, we are confident in our ability to make financial education accessible to a wider audience.”

The strategic partnership between Childpreneur Academy and Babington Education marks a significant step forward in promoting financial literacy among children and young adults in the region. Through engaging game-based learning and coaching-style guidance, the joint initiative will empower individuals of all ages to develop sound financial habits and decision-making skills.

Hashtag: #ChildpreneurAcademy #BabingtonEducation



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