• Hong Kong-listed SY Holdings to provide cross-border financing solutions for Carro, powered by artificial intelligence, predictive analytics and secure API-based integration
• The strategic partnership will also explore supply-chain AI capabilities to enhance risk controls and operational efficiency for Carro

SINGAPORE, Aug. 21, 2025 /PRNewswire/ — Carro, Asia Pacific’s largest and fastest-growing online used car platform, has signed a Memorandum of Understanding with fintech platform SY Holdings, entering a strategic partnership that will support Carro’s expansion plans through tech-enabled financing solutions.

SY Holdings is a Hong Kong-listed digital intelligence technology company with a focus on AI and industry supply chains. This strategic partnership will leverage artificial intelligence, predictive analytics and API-based integrations that will optimise efficiency, accelerate funding cycles and intensify scalability while maintaining governance and compliance.

“We’re excited to work with new partners like SY Holdings that can move quickly together with us, as we expand into even more markets and explore new propositions like Brand New cars,” says Aaron Tan, co-founder and CEO of Carro. “This strategic partnership will give us access to bespoke, AI driven financing solutions that will not only help align disbursements across our ecosystem in multiple markets, but also optimise the financing supply chain process.” 

At the same time, SY Holdings will be able to tap into Carro’s deep experience and expertise with New Energy Vehicles (NEV) across Asia Pacific.

“Carro’s commitment in AI and NEV, coupled with its recent launch of its Zeekr dealership, resonates strongly with us ,” says Kenny Ng, Head of International Partnerships at SY Holdings. “This partnership will see us working closely to integrate systems that will handle dealership, procurement and settlement cases within the NEV space, as well as explore supply chain AI capabilities that will include anomaly detections, smart pricing algorithms, real-time data synchronisation and automated reconciliation.”

Carro is Asia Pacific’s largest and most trusted online automotive marketplace, with a decade’s worth of experience in buying and selling used cars whilst leveraging proprietary technologies, artificial intelligence and data analytics. The unicorn start up has grown its retail marketplace to an in-house ecosystem powerhouse encompassing Carro Care (aftersales), Genie Financing Services (financing), and Coverro (insurance), building a hub of excellence and quality for all aspects of car ownership.

About SY Holdings

SY Holdings Group Limited  (Stock Code: 6069.HK) is the first “AI + Industrial Supply Chain” digital intelligence technology company listed on the Main Board of the Hong Kong Stock Exchange. Recognized by CNBC and Forbes as a leading global fintech innovator, the Group has been included in MSCI, Hang Seng, FTSE and Stock Connect indices, reflecting broad market recognition. Through its proprietary SY Cloud Platform, SY deploys AI Agents that automatically analyse procurement opportunities, match orders, and connect SMEs with funding partners in real time, enabling them to secure growth opportunities with greater efficiency. Operating under a “transaction-focused, asset-light” model, SY strengthens industrial ecosystems and data connectivity across infrastructure, healthcare, commodities, e-commerce, and robotics. As of June 30, 2025, the Group has established partnerships with more than 10 large core enterprises and over 180 funding institutions, facilitating order procurement and financing services exceeding USD 38 billion for over 19,000 SMEs, while continuing to advance digital transformation and inclusive growth for SMEs worldwide.

About Carro

Founded in 2015, Carro is Asia Pacific’s largest online used car marketplace. By offering a trustworthy and transparent experience, Carro transforms the traditional way of buying and selling cars through proprietary pricing algorithms, AI-enabled capabilities, and innovative technological solutions. Carro most recently expanded its product line to include Brand New cars in Singapore and Malaysia, offering customers even more options.

Headquartered in Singapore, the unicorn startup has raised over S$700 million from Softbank Vision Fund and several sovereign funds. It recorded its best ever full-year positive EBITDA of S$43 million in FY2024. Together with its subsidiaries and business lines, Carro is supported by more than 5,000 employees across Asia Pacific:

• Carro, Asia Pacific’s largest online used marketplace with a strong key presence in Singapore, Malaysia, Indonesia and Thailand, Japan, Taiwan region, and Hong Kong SAR
• Carro Care Powered by Jardine & Cycle, Carro’s in-house refurbishment and after-sales servicing capabilities
• Genie Financial Services, a next-generation fintech automotive financing provider in Singapore, Malaysia, Indonesia and Thailand
• MPM Rent, leading mobility solutions company in Indonesia specialising in leasing / fleet financing transportation services
• Innorithm, a next-generation fleet management solutions company leveraging state-of-the art IoT and machine learning
• Kaidee, Thailand’s largest online shopping and classifieds platform

For more information, please visit: www.carro.co.

PANAMA CITY, Aug. 21, 2025 /PRNewswire/ — HTX, a global leading cryptocurrency exchange, today announced its participation in the Beacon Network, the first real-time crypto crime response network launched by TRM Labs, as a founding member. By joining forces with elite exchanges and law enforcement agencies, HTX reaffirms its commitment to combating illicit finance and building a safer, more trusted digital asset ecosystem.

Launched by TRM Labs, the Beacon Network connects vetted investigators with exchanges, stablecoin issuers, and regulators to detect, flag, and disrupt illicit activity before funds can be cashed out. Through real-time alerts and coordinated responses, the network shifts the fight against crypto crime from reaction to prevention, closing gaps that criminals have exploited for years.

“As the crypto industry continues to evolve at a rapid pace, threats such as hacking and money laundering have become increasingly sophisticated, intelligent, complex, and fast-moving. It is no longer feasible for any single team to fight these crimes effectively — we must unite as an industry to build coordinated defenses and responses, and Beacon Network helps us do just that,” said Heisen Guo, Chief Security Officer at HTX. “HTX is grateful to TRM Labs for spearheading this effort, and we look forward to working side by side with partners worldwide to forge an ‘iron wall’ for the crypto sector, and to safeguard the security and bright future of the industry.”

By joining the Beacon Network, HTX demonstrates its dedication to advancing compliance and strengthening security standards. Its participation also broadens Beacon’s global reach and real-time coverage, enabling exchanges and law enforcement partners to act within moments rather than days. Together, the industry is setting a new benchmark for cooperation to stop illicit finance before it impacts users.

About HTX

Founded in 2013, HTX (formerly Huobi) has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

To learn more about HTX, please visit https://www.htx.com/ or HTX Square , and follow HTX on X, Telegram, and Discord. 

About TRM Labs

TRM Labs provides blockchain intelligence solutions trusted by financial institutions, cryptocurrency businesses, and law enforcement to detect, investigate, and prevent cryptocurrency-related financial crimes. TRM combines advanced analytics with human expertise to build a safer financial system for everyone. Learn more at www.trmlabs.com.

Among top destinations, Malaysia shows largest year-on-year search growth at 20% in Agoda’s Europe to Asia Summer Travel Trends Report

SINGAPORE, Aug. 21, 2025 /PRNewswire/ — Digital travel platform Agoda’s latest Europe to Asia Summer Travel Trends data shows an increase in European traveler interest for Asian destinations.

Thailand, Indonesia, Japan, Malaysia, and Vietnam top the list of most searched destinations for summer 2025, with interest driven by travelers from the United Kingdom, France, Germany, Spain, and the Netherlands. Notably, search interest is also rising among travelers from Greece (+23%), Turkey (+21%), and Poland (+17%).

This growth in interest aligns with a broader shift in European traveler preferences, who are increasingly seeking authentic, immersive experiences in striking locations from exploring vibrant neighborhoods, enjoying wellness retreats and sampling local cuisine to discovering cultural landmarks on foot.

Agoda’s guide to Asia’s top cities to explore on foot highlights walkable hidden gems that make many of these trending destinations celebrated for their ease of accessibility. Hotels in walkable cities like Chiang Khan (Thailand), Melaka (Malaysia), Hanoi and Ho Chi Minh City (Vietnam) can stand out further by emphasizing their proximity to city centers, historic neighborhoods, and local attractions.

For Asian hoteliers, the growing appeal of walkable cities presents a timely opportunity to tailor offerings and capture the attention of Europe’s next wave of Asia-bound guests. Properties can highlight walkability by offering curated street tour maps and guided walking tours to enhance guest experience. Accommodation providers can make it easier for guests to access local cuisine, hidden cafés, and cultural landmarks at every turn.

Wellness tourism continues to expand across Asia, with Mordor Intelligence reporting that the market is projected to reach USD 156 billion in 2025. Today’s travelers are increasingly seeking destinations that not only offer convenience and cultural immersion, but also opportunities to recharge and focus on their wellbeing. Hoteliers can attract discerning guests by offering spa packages, yoga classes, or digital detox retreats, and by bundling wellness experiences with room rates. Chiang Khan in Thailand, for instance, is an ideal example of a wellness-focused destination, with its car-free walking street, peaceful sunrise views over the Mekong, and opportunities for mindful experiences. These thoughtful touches not only appeal to wellness-seeking travelers but also enhance the overall guest experience.

“As European travel patterns evolve, the real opportunity for hotels lies in anticipating not just where guests want to go, but how they want to experience those destinations,” said Andrew Smith, Senior Vice President, Supply at Agoda. “By leveraging data-driven insights, hoteliers can move beyond traditional offerings to curate experiences that reflect the growing demand for wellness, walkability, and local authenticity. This approach positions them to capture interest from European travelers and build stronger, more resilient guest relationships for the long term.”

With over 6 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, Agoda provides endless possibilities for creating unforgettable travel experiences.  

For more insights on how to optimize strategic hotel initiatives this summer, visit https://partnerhub.agoda.com/.

SINGAPORE, Aug. 21, 2025 /PRNewswire/ — Citi today announced the launch of Citi Real-Time Funding (RTF) for corporate clients in Singapore, building on its leadership in real-time liquidity solutions. 

Already live in Australia, Hong Kong SAR and U.K., Citi RTF enables the automated movement of funds between cross-border accounts based on pre-defined rules set by the client, helping them ensure that cash is available when and where it’s needed.

In the first half 2025, Citi RTF has processed more than 150 transactions across 4 clients and 3 currencies (AUD / EUR / HKD).

This expansion provides Singapore-based clients with unprecedented control and flexibility over their cash, enabling instant, 24/7, cross-border liquidity transfers eliminating the need to manually transfer funds or rely on end-of-day sweeps.

Our corporate clients operate in an increasingly interconnected and fast-paced global economy, where the ability to manage liquidity in real-time is paramount,” said Rupa Mankad, Citi’s Asia South & Singapore Head of Liquidity Management Services. “This launch of our Real-Time Funding solution in Singapore empowers businesses with continuous access to their funds, offering greater efficiency, improved working capital management and stronger control over their financial positions across borders. This is a key part of our strategy to grow our Real-Time Liquidity offering with new products and expanded reach.”

Citi RTF is a differentiated offering that can help corporate treasurers optimize liquidity and make funding decisions with real-time data, while also automating traditionally manual processes for 24/7 account monitoring and complex cash forecasting to support their operations.

• Real-Time Intercompany Transfers: Seamless and instant movement of funds between different entities within a corporate group.
• 24/7 Availability: Access to and deployment of liquidity around the clock, overcoming time zone limitations.
• Enhanced Cross-Border Capabilities: Facilitates efficient liquidity management across multiple jurisdictions without delays.

This enhanced offering in Singapore underscores Citi’s position as a leader in real-time liquidity solutions, which includes capabilities like Real-Time Liquidity Sharing, Real-Time Multi-Banking, and Real-Time Funding.

Strengthening Presence in Singapore, Malaysia, the Philippines, and Launching Corporate and Trust Services in Labuan

SINGAPORE, Aug. 21, 2025 /PRNewswire/ — Ascentium,  a leading global business services platform headquartered in Singapore, today announced the successful acquisition of ZICO Holdings‘ (“ZICO”), a corporate services business operating across key ASEAN markets, specifically Singapore, Malaysia, and the Philippines. The acquisition also includes corporate services and trust & trustee services in Labuan. This strategic investment strengthens Ascentium’s presence across Southeast Asia and marks its entry into the Labuan market. With over three decades of success, ZICO contributes its legacy of operational excellence, deep regional experience, and a distinguished portfolio of premium clients. ZICO’s corporate services will be seamlessly integrated into Ascentium’s operations in Singapore, Malaysia, and the Philippines, reinforcing the firm’s proficiency in corporate secretarial services, trust administration, and regulatory compliance.

With ZICO’s corporate services division now part of the Ascentium platform, clients will benefit from an expanded suite of services across multiple markets, while continuing to receive high-quality corporate and fiduciary solutions. This expansion builds on Ascentium’s 2024 acquisition of InCorp Global, a leading provider of corporate services and business advisory solutions, which is expected to complete its brand transition to Ascentium by 2026.

Ascentium is committed to delivering comprehensive, technology-enabled business services across Asia-Pacific and beyond.  This investment underscores Ascentium’s strategic expansion across Asia Pacific to offer diversified corporate services, as highlighted by recent key milestone acquisitions such as Links International, the region’s leading HR outsourcing technology partner, and Harneys Fiduciary, a specialist in cross-border corporate, fund, and trust services with established global offices in Singapore, Hong Kong SAR, and Shanghai.

Lennard Yong, Founding Management and Group CEO of Ascentium, commented: “The acquisition marks an important advance in our Southeast Asia growth strategy and represents a crucial milestone toward building a leadership team with unmatched regional expertise. I appreciate Kelvin’s trust and ZICO’s network in Southeast Asia, and warmly welcome ZICO’s corporate services team to Ascentium. We value their entrepreneurial culture and market knowledge. ZICO’s strong governance framework, premium client base, and local know-how align with our mission to deliver transformative business services.”

Datuk Kelvin Ng, Group Chief Executive Officer of ZICO Holdings, said: “This demonstrates a pivotal moment for ZICO Holdings as we transition our well-established corporate services teams in Malaysia, Singapore, and the Philippines to Ascentium. Over the years, our teams have built a strong reputation for professionalism, trust, and regional knowledge. We are confident that Ascentium’s leadership, platform, and global reach will enable our colleagues and valued clients to access new opportunities and enhanced solutions. We thank our outstanding team members for their dedication and commitment and look forward to seeing them thrive as part of Ascentium’s growing family under Lennard’s leadership.”

– END –

About Ascentium

Ascentium is a leading global business services platform dedicated to helping businesses scale greater heights. Headquartered in Singapore, we empower extraordinary growth through specialised expertise and comprehensive one-stop solutions in corporate services, finance and accounting, HR services, and fiduciary and trust services. Our team of 2,300+ professionals spans 44 cities across 22 markets in Asia-Pacific, the Middle East, the Americas, and Europe, serving 50,000+ client entities across diverse industries. Through innovative, technology-enabled solutions and a collaborative approach, Ascentium drives transformative growth, helping clients navigate complex global environments.

For more information, please visit ascentium.com.

About ZICO Holdings

ZICO Holdings Inc. (“ZICO” and together with its subsidiaries and associated companies, the “Group”) is an integrated provider of multidisciplinary professional services. ZICO was listed on the Catalist Board of the Singapore Exchange Securities Trading Limited on 11 November 2014. ZICO is widely regarded as the Trusted Advisors and Go-To Professional Services Provider of business solutions in the ASEAN region. Through its multidisciplinary services, regional capabilities and local insights, ZICO creates a unique brand offering that enables its clients to capitalise on opportunities across Southeast Asia.

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