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Summit Power International and AACT Jointly Host Iftar for About 440 Migrant Workers in Singapore, Including Bangladeshis

SINGAPORE, March 17, 2026 /PRNewswire/ — To show appreciation for the migrant workers in Singapore, many of whom are Bangladeshi, Summit Power International Limited (“SPIL”) and the Anjuman & Aziz Charitable Trust (AACT) jointly hosted a breaking of fast (Iftar) for about 440 workers during the holy month of Ramadan.

Mr. Muhammed Aziz Khan PBM (centre), Founder Chairman of Summit Group and the Anjuman & Aziz Charitable Trust (AACT), broke fast with migrant workers in Singapore, many of whom are Bangladeshi nationals.
Mr. Muhammed Aziz Khan PBM (centre), Founder Chairman of Summit Group and the Anjuman & Aziz Charitable Trust (AACT), broke fast with migrant workers in Singapore, many of whom are Bangladeshi nationals.

Mr. Muhammed Aziz Khan PBM, the Founder Chairman of Summit Group and AACT, broke fast with the workers at a workers’ dormitory in Space@Tuas on 12th March 2026.

This is the second Singapore Iftar event sponsored by SPIL, the Singapore-headquartered parent of Bangladesh’s largest private sector power generation company.

Beyond Iftar, SPIL and AACT are engaged in long-term social responsibility efforts spanning Bangladesh and Singapore.

“Social responsibility is at the core of our business and personal lives. We are privileged to host this Iftar event for migrant workers, many of whom are Bangladeshi and heroes driving economic growth through remittance.” Mr. Muhammed Aziz Khan said.

Mr. Muhammed Aziz Khan, a Singaporean of Bangladeshi origin, was awarded the Public Service Medal (COVID-19) in 2023 for engaging and helping Bangladeshi workers who were isolated in local dormitories during the pandemic.

About Summit Group:

Summit Group is the largest infrastructure conglomerate in Bangladesh, employing over 6,000 people with investments across power, energy, ports, logistics, and telecommunication sectors.

Summit Power International, incorporated in Singapore in 2016, is a leading infrastructure developer and operator in South Asia whose strategic partners include JERA, Mitsubishi Corporation, Taiyo Life Insurance and GE.

The group is committed to providing affordable, sustainable energy solutions while supporting corporate social responsibility initiatives in education, healthcare, and community development. Recently, Summit was awarded the Reuters Global Energy Transition Award 2024 in the “Projects of Impact” category in recognition of the provision of sustainable solar power to remote

river-island communities and the improvement of energy access, livelihoods, and climate resilience.

About The Anjuman & Aziz Charitable Trust (“AACT”):

Founded in 2020 by Muhammed Aziz Khan and his wife Anjuman Aziz Khan, The Anjuman & Aziz Charitable Trust focuses on providing quality education to disadvantaged children across Bangladesh. Dr Hanns Kendel is the Managing Trustee.

About Muhammed Aziz Khan PBM:

Muhammed Aziz Khan, PBM, is the founder and Chairman of Summit Group of Companies. A Singapore citizen of Bangladeshi origin, he has led Summit Group from Bangladesh’s first private sector power producer to a diversified infrastructure conglomerate.

Khan received the Public Service Medal (COVID-19) and Pingat Bakti Masyarakat from Singapore’s Prime Minister’s Office in 2023 for his outstanding contributions during the pandemic.

Mr. Khan holds an MBA from the Institute of Business Administration (IBA), University of Dhaka and served as the Honorary Consul General of Finland to Bangladesh (2016-2025). He is also the Chairman of Siraj Khaleda Trust, Anjuman & Aziz Charitable Trust (AACT), and serves on the Board of Trustees of the Asian University for Women (AUW) and Prothom Alo Trust.

Media Contact: 
Mohsena Hassan
mohsena.hassan@summit-centre.com

Mr. Muhammed Aziz Khan, alongside approximately 440 migrant workers, at the joint Iftar event hosted by Summit Power International Limited and AACT at Space@Tuas, Singapore, March 12, 2026.
Mr. Muhammed Aziz Khan, alongside approximately 440 migrant workers, at the joint Iftar event hosted by Summit Power International Limited and AACT at Space@Tuas, Singapore, March 12, 2026.

 

 

K-Royal Cultural Festival Celebrates Korean Culture at Palaces, Ticket reservation for international programs available from March 16

K-content including performances, guided tours, culinary experiences / Royal court arts of Korea at palaces

SEOUL, South Korea, March 17, 2026 /PRNewswire/ — K-Royal Cultural Festival for spring 2026 which are hosted by the Korea Heritage Service’s Palace Heritage Headquarters (Director: Ahn Ho) and organized by the Korea Heritage Agency (President: Lee Gwi-young) will begin booking programs for foreigners.

K-Royal Cultural Festival for spring 2026 is set to run from April 24 to May 3, offering chances for participants to experience Korea’s royal court culture hands-on. Prior ticket reservation for international programs is available on Korea’s travel platform Creatrip (www.creatrip.com) from 2PM of March 16.

Opening Ceremony of K-Royal Culture Festival 2025
Opening Ceremony of K-Royal Culture Festival 2025

K-Royal Cultural Festival is Korea’s biggest cultural heritage festival themed on Korea’s history. It takes place in Korea’s five palaces (Gyeongbokgung, Changdeokgung, Deoksugung, Changgyeonggung, Gyeonghuigung Palaces) and Jongmyo Shrine. Every spring and fall since 2014, the Festival has showcased various enactments, performances, exhibitions, experiences, and other programs to introduce Korea’s traditional royal culture.

Celebrating its 12th anniversary this year, the Royal Culture Festival has continued to grow steadily by presenting distinctive programs. It attracts tremendous interest from domestic visitors in Korea, with many programs selling out shortly upon opening each year. In particular, during last year’s spring and fall festival periods, approximately 1.37 million people visited the palaces, marking the highest attendance in the festival’s history.

This year’s spring festival, under the theme “Palaces, Awakening the Arts,” will offer a variety of royal court culture programs throughout the palaces with experiences that are not easily available during regular palace visits.

The festival’s programs are designed to provide hands-on experience on Korea’s royal culture, with performances bringing together K-POP and traditional Korean music, nighttime tours, and culinary experience programs.

  • The opening will be celebrated with an opening ceremony at Gyeongbokgung Palace Heungnyemun Gate Square (April 24). Directed by Yang Jung-woong, who served as the artistic director of the 2025 APEC Summit, the event will open under the theme “Palaces, Awakening the Arts – Hyper Palace.” This large-scale performance will blend multiple genres including royal court dance (jeongjaemu), media façade, a hanbok fashion show, and a gugak (traditional Korean music) EDM performance, presenting a stage that reinterprets traditional culture in a contemporary way. 300 prior reservation tickets are available for international visitors, free of charge.
  • At Around Changdeokgung Palace, a UNESCO World Heritage site, a new nighttime program titled “The Dance of Crown Prince Hyomyeong and the Moon” will be presented (April 28-30). This immersive nighttime performance tour allows visitors to move through different areas of the palace while following the story of Crown Prince Hyomyeong, who played a key role in advancing the arts of the Joseon Dynasty royal court. The program will be conducted in English and will operate through paid advance reservations, with 40 participants per day.

The popular program “Awakening the Morning Palace” will also offer sessions exclusively for international visitors (April 28-May 3). The program invites participants to stroll through the halls and the Secret Garden of Changdeokgung Palace while listening to stories about the palace’s architecture and taking in the serene morning scenery. It will be operated through paid advance reservations for 40 participants per day.

As part of the festival’s special performance lineup, the royal court music concert “Palace Concert: A Performance by 100 Artists” will also take place (May 1-3). This large-scale traditional arts performance, featuring 100 gugak musicians, offers audiences a chance to experience the essence of Korean traditional music. Korean and English commentary will be provided to help audiences better understand the performance. The program will be operated through paid advance reservations for 100 participants per day.

  • At Deoksugung Palace Jungmyeongjeon Hall, the culinary program “The Emperor’s Dining Table” will allow visitors to experience the banquet culture of the Korean Empire imperial court (May 1-3). Participants can try dishes inspired by imperial banquet cuisine while learning about the history and diplomatic culture of the era through a gastronomic talk program. Each session will accommodate 20 participants through paid advance reservations.
  • At Jongmyo Shrine Main Hall, a new program titled “Royal Ancestral Ritual Music Nighttime Performance” will be presented, introducing the cultural value of Jongmyo Jeryeak, which is inscribed on the UNESCO Intangible Cultural Heritage list (April 28-30). Set against the solemn and majestic atmosphere of the shrine, this traditional music performance offers audiences an opportunity to experience the profound depth of Korean royal ritual music. The program will be operated through advance reservations, free of charge.
  • In addition to the programs requiring advance reservations, the festival will also feature a variety of on-site programs open to visitors without prior booking. These include the “K-Heritage Market” at Gyeongbokgung Palace, where visitors can explore K-heritage goods and traditional crafts, and “Gyeongbokgung Time Travel – Royal Palace Daily Life,” which recreates scenes of everyday life in the Joseon Dynasty royal court. Visitors without advance reservations can also enjoy the festive atmosphere through the many events taking place throughout the palaces.

Details about prior reservation for international programs can be found on Creatrip (www.creatrip.com).

Appendix: K-Royal Culture Festival international program reservation details (foreigner-exclusive).

Reservation overview

  • Programs: 6 foreigner-exclusive programs
  • Reservation starting date: 2PM of Mar 16 2026 (Mon), at Creatrip (www.creatrip.com)
  • Inquiries: Creatrip (help@creatrip.com)

Program schedule

Number

Category

Program

Venue

Date and time

Capacity

(participants per session)

Price (KRW)

1

K-Royal Cultural Festival

2026 K-Royal Culture Festival Opening Ceremony

Gyeongbokgung Palace Heungnyemun Gate Square

April 24 (Fri)

300

Free

2

The Dance of Crown Prince Hyomyeong and the Moon

Around Changdeokgung Palace

April 28( Tue) – April 30 (Thu)

40

10,000

3

Awakening the Morning Palace

Around Changdeokgung Palace

April 28(Tue) – May 3 (Sun)

40

10,000

4

The Emperor’s Dining Table

Deoksugung Palace Jungmyeongjeon Hall

May 1 (Fri) – May 3 (Sun)

20

15,000

5

Royal Ancestral Ritual Music Nighttime Performance

Jongmyo Shrine Main Hall

April 28( Tue) – April 30 (Thu)

40

Free

6

Special program

Palace Concert: A Performance by 100 Artists

Changdeokgung Palace Injeongjeon Hall

May 1 (Fri) – May 3 (Sun)

100

20,000

 

Vietnam Warns of Possible Flight Cuts Amid Jet Fuel Shortage

Vietnam to Resume International Flights to Laos

Travellers flying to and from Vietnam could face disruptions as early as next month, after the country’s aviation authority warned that jet fuel supplies may not last beyond March amid the regional energy crisis triggered by the conflict in the Middle East.

The warning comes as fuel supply disruptions ripple across Southeast Asia. In Laos, panic buying emptied several petrol stations in Vientiane in early March after Thailand briefly suspended fuel exports.

Nearly half of Laos’ 2,538 fuel stations later reported temporary closures, while diesel prices surged sharply before a modest government price reduction provided partial relief.

Fragile Supply Chain

Vietnam imports more than two-thirds of the jet fuel required for airline operations. Until recently, about 60 percent of that supply came from China and Thailand.

Both countries have now restricted exports.

Reuters recently reported that China first instructed refiners to stop signing new export contracts before imposing a full ban on refined fuel exports beginning 11 March. Thailand followed on 6 March by suspending exports of refined oil products, including jet fuel, to most destinations.

Supplies from Singapore have also declined.

The sudden shift has left Vietnam’s aviation sector scrambling to secure sufficient fuel supplies.

Short-Term Supply Concerns

Vietnam’s aviation authority warned on 9 March that jet fuel shortages could begin as early as April if the situation continues.

Airlines have been asked to review flight schedules, while airports are preparing extra parking space in case planes need to be grounded. Major fuel suppliers Petrolimex and Skypec say they can only guarantee jet fuel supplies until the end of March, with Skypec urging authorities to prioritize essential domestic flights if shortages worsen.

Vietnam is now exploring alternative sources of supply.

Officials have identified potential suppliers including South Korea, Japan, Brunei, and India, although aviation authorities warn that securing new contracts quickly may prove difficult under current market conditions.

Even if supply disruptions ease, authorities say the sharp rise in fuel prices could still force airlines to reduce flights on routes that become unprofitable.

FinVolution Group Announces Strategic Entry into Australia

SYDNEY, March 17, 2026 /PRNewswire/ — FinVolution Group (NYSE: FINV), a leading fintech company, announced its entry into the Australian market, following the acquisition of local lending platform Fundo. This move marks the Company’s significant strategic expansion into a high-value developed market.

Tiezheng Li, CEO of FinVolution Group, commented, “Our entry into Australia marks an important step in FinVolution’s international expansion. We look forward to bringing our responsible, technology-driven financial services to users in Australia.”

Australia presents a compelling growth opportunity characterized by a mature regulatory framework and a significant demand for digital lending. The Fundo acquisition allows FinVolution to leverage its expertise in data-driven risk pricing and operational efficiency to enhance financial accessibility in Australia, further advancing the Group’s commitment to global financial inclusion.

This expansion builds on FinVolution’s track record of executing deep localization strategies across diverse markets. By adapting its product offerings to meet local needs while upholding rigorous compliance standards, the Company ensures its Australian operations align with the regulatory discipline required in a developed economy.

Guided by its “Local Excellence, Global Outlook” strategy, FinVolution’s international business has become an increasingly important growth driver. As reported in its 2025 financial results, international transaction volume increased by 38.6% year-over-year to RMB 14.0 billion(US$ 2.0 billion), while international operations contributed 31.4% of total revenue in the fourth quarter.

Today, FinVolution operates leading fintech platforms across China, Indonesia, the Philippines, and Pakistan, alongside its newest market, Australia. As of December 31, 2025, the Company has served a cumulative total of 40.7 million users worldwide and facilitated approximately RMB 1.2 trillion (US$ 171.6 billion) in cumulative transaction volume, solidifying its position as a leading credit-tech company.

 

CARSOME Raises Over USD 30 Million in a Strategic Fundraising Round


PETALING JAYA, MALAYSIA – Media OutReach Newswire – 17 March 2026 – CARSOME Group Inc (CARSOME or the Group), Southeast Asia’s largest integrated car e-commerce platform, today announced a strategic investment round of more than USD 30 million from a set of new and existing investors including the Hong Kong Investment Corporation Limited (HKIC), Gobi Partners, and Asia Partners. This fundraise underscores the investors’ confidence in CARSOME’s journey to profitability and long-term vision across the region, as demonstrated by the recent record FY25 results. These funds will further accelerate its profitable growth in the region for the coming years.

CARSOME Group Inc (CARSOME or the Group), Southeast Asia’s largest integrated car e-commerce platform, today announced a strategic investment round of more than USD 30 million from a set of new and existing investors including the Hong Kong Investment Corporation Limited (HKIC), Gobi Partners, and Asia Partners.
CARSOME Group Inc (CARSOME or the Group), Southeast Asia’s largest integrated car e-commerce platform, today announced a strategic investment round of more than USD 30 million from a set of new and existing investors including the Hong Kong Investment Corporation Limited (HKIC), Gobi Partners, and Asia Partners.

This investment and partnership reflect a shared ambition to strengthen connections between Southeast Asia and Greater China, leveraging Hong Kong’s role as a regional gateway for advanced automotive capabilities, technology development, and global talent. With the support from the HKIC, CARSOME will drive initiatives across areas such as supply chain sourcing and technology collaboration, accelerating the application of data and artificial intelligence (AI) in the automotive sector, which further empowers CARSOME for its regional expansion.

“CARSOME has spent the last several years focused on building a resilient, profitable business with strong fundamentals,” said Eric Cheng, CARSOME Group Co-founder and CEO. “This strategic collaboration and fundraise is a vote of confidence in our continued momentum and long-term vision. This partnership gives us crucial access to innovation capabilities, cross-border networks, and world-class talent that will support our work in AI, data, and next-generation mobility services across Southeast Asia.”

Clara Chan, Chief Executive Officer of the HKIC, said, “We are pleased to support CARSOME as part of our continued effort to harness technology to drive industry transformation, contributing to Hong Kong’s long-term economic development and resilience. With Hong Kong’s unique position as a gateway connecting global innovation and investment opportunities, CARSOME exemplifies the type of high-conviction, technology-driven enterprise that aligns with the HKIC’s mandate to foster scalable innovation across our strategic sectors. We look forward to supporting forward-thinking companies like CARSOME in creating tangible value for the future of Hong Kong.”

Chibo Tang, Managing Partner of Gobi Partners, said, “CARSOME is a leading example of how Southeast Asian startups are well-positioned to create close ties with partners in Greater China, leveraging each region’s unique strengths. We are pleased to be a returning investor in CARSOME, having supported them for almost a decade. Gobi was an early believer in CARSOME’s ability to scale across international borders, and we are happy to see their early potential come to fruition as they reimagine the way consumers across Asia purchase vehicles.”

Hashtag: #CARSOME


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

About CARSOME

CARSOME is Southeast Asia’s largest integrated car e-commerce platform. With operations across Malaysia, Indonesia, Thailand, and Singapore, CARSOME aims to digitize the region’s used car industry by reshaping and elevating the car transaction and ownership experience.

Together with subsidiary brands , , and , , and , CARSOME provides end-to-end solutions to consumers and used car dealers across the decision funnel, from car content consumption, car inspection, and ownership transfer to financing and other ancillary services, as well as an automotive training institution, promising to bring trust, transparency, and choice to our customers. For more information, please visit .

About Hong Kong Investment Corporation Limited (HKIC)

The HKIC was established in 2022 as the Patient Capital institution wholly owned by and representing the HKSAR Government. It adopts an “Investment +” approach, seeking reasonable financial return in the medium to long term and at the same time creating and supporting growth impetus with a view to contributing to Hong Kong’s economy and society.

The HKIC currently manages the “Hong Kong Growth Portfolio”, “Greater Bay Area Investment Fund”, “Strategic Tech Fund”, and “Co-Investment Fund”. At this stage, it is focusing on three key sectors, namely Hard and Core Technology, Biotech, and New Energy and Green Technology, as well as the relevant applications.

As of January 2026, the HKIC has invested in over 170 projects. Every Hong Kong dollar invested by the HKIC has attracted over 6 Hong Kong dollars from long-term capital for investment. Visit the website for more information: https://www.hkic.org.hk/

About Gobi Partners

Founded in 2002, Gobi Partners is a leading pan-Asian investment firm specialising in bespoke capital solutions for family offices, sovereign wealth funds, financial institutions and corporate investors. Headquartered in Hong Kong and Kuala Lumpur, Gobi manages US$1.7 billion across 20 funds, investing in early to growth-stage companies with the potential for generational and global impact.

The firm’s team of over 90 investment professionals operates from 17 locations, curating a diversified portfolio of more than 400 companies, with 75 exits achieved to date. Gobi is recognised for its long-term, values-aligned approach, building ecosystems at the intersection of technology, sustainability, and inclusion. From pioneering TaqwaTech for two billion Muslims, to advancing the circular economy, to promoting gender-diverse leadership, Gobi backs the trends that are reshaping societies.

Gobi’s edge lies in identifying structural and demographic shifts, forging partnerships with universities and institutions of higher education; bridging world-class research with private capital and bringing deep technology breakthroughs to commercialisation.

For more information, please visit:

About Asia Partners

Asia Partners is a growth equity firm focused on the next generation of high-growth technology and technology-enabled companies that will transform the Southeast Asia economy. Its mission is to empower founders to build a new generation of tech giants, through deploying capital that directly addresses the region’s ‘Series C/D Gap’, and expertise in operating skills, drawing upon its collective experience of growing eight multi-billion dollar companies, including three in Southeast Asia.

Visit the website for more information:

Agoda and Gangwon State Join Hands to Elevate Gangwon into a Premier Global Travel Destination

SINGAPORE, March 16, 2026 /PRNewswire/ — Digital travel platform Agoda and South Korea’s Gangwon State have launched a strategic partnership aimed at transforming Gangwon into a leading international travel destination.

Gangwon Governor Kim Jin-tae and Agoda CCO Damien Pfirsch (center) celebrate the partnership with representatives of Gangwon and Agoda.
Gangwon Governor Kim Jin-tae and Agoda CCO Damien Pfirsch (center) celebrate the partnership with representatives of Gangwon and Agoda.

The two-year Memorandum of Understanding (MOU) took effect today during a meeting between Gangwon Governor Kim Jin-tae and Agoda Chief Commercial Officer Damien Pfirsch in Wonju. Leveraging Agoda’s global tourism insights and marketing expertise, Agoda will support the region’s destination marketing initiatives and explore data-driven promotion opportunities to strengthen the local tourism industry.

Gangwon State is a year-round destination for nature lovers and culture seekers. In winter, ski resorts and snow festivals draw visitors; in summer, cool mountain retreats and riverside activities provide relief from the heat. With fresh seafood, mountain herbs, artisanal markets and cultural sites that reflect Korea’s rural heritage, plus convenient links to Seoul and a growing range of boutique hotels, Gangwon is an accessible and authentic choice for active holidays and relaxed getaways.

Gangwon Governor Kim Jin-tae of Gangwon: “By connecting the private sector’s global capabilities with Gangwon’s tourism assets, I expect this partnership with Agoda to further strengthen Gangwon’s tourism competitiveness. We will continue to support public–private cooperation projects to advance the region’s tourism industry.”

Damien Pfirsch, Chief Commercial Officer, said: “Gangwon State offers tourists from around the globe remarkable variety across all seasons – from world-class ski resorts in Pyeongchang to national parks and beaches – and there is a great deal of potential to unlock. Through our work together, Agoda will showcase Gangwon’s year-round appeal to international travelers. The partnership goes beyond a promotional push — we aim to be a knowledge partner that helps boost the region’s competitiveness and attractiveness over the long term.”

South Korea is one of Agoda’s key markets and remains important to the company as it continues to invest and innovate to the benefit of travelers and partners in the country. This is evident in deeply localized offerings such as 24/7 Korean-language customer care, an extensive motel selection, integration with Naver Maps, local payment methods like Kakao Pay, and Agoda commercials tailored to Korean travelers. Together with Gangwon, these efforts will showcase the best of Korea to the world while delivering great prices and a seamless booking experience for visitors.

CMC REIT Delivers Stable Revenue for 2025

Successful Acquisition of Hong Kong Student Accommodation; Optimization of Financing Structure Yields Results

HONG KONG, March 17, 2026 /PRNewswire/ — China Merchants Commercial Real Estate Investment Trust (“CMC REIT” or “the Trust”, HKEX stock code: 1503) announced its annual results for the year ended 31 December 2025. The total revenue for the year amounted to RMB432 million.

In 2025, the distributable income of CMC REIT was RMB96.3 million (2024: RMB116.7 million). Based on the distributable income, the final distribution per unit for 2025 is HK$0.0410. Together with the interim distribution of HK$0.0558 per unit already paid, the total distribution per unit to Unitholders for the year amounted to HK$0.0968 (equivalent to RMB0.0854).

Steady Gearing Ratio and Expansion into Diversified Asset Portfolio
During the year, the total bank borrowings of CMC REIT amounted to RMB4.11 billion, and the gearing ratio remained steady at 42.3%. This ratio is well below the 50% limit permitted under the REIT Code. Furthermore, the Manager proactively implemented cost reduction and efficiency enhancement measures, resulting in significant decreases of 13.8% and 11.3% in property operating expenses and finance costs, respectively. As of 31 December 2025, the ratio of total liabilities (excluding net assets attributable to Unitholders) to total assets of CMC REIT was 55.9% (2024: 54.8%). Net assets attributable to Unitholders amounted to RMB2,899 million (2024: RMB3,096 million), or RMB2.57 per unit, equivalent to HK$2.85 per unit based on the central parity rate announced by the People’s Bank of China on 31 December 2025. The closing unit price of HK$1.24 on 31 December 2025 represented a 56.4% discount to the NAV per Unit.

In January 2025, CMC REIT (through its wholly-owned subsidiary) entered into a 5-year facility agreement with an independent third-party bank (as lender) for a loan facility of up to RMB4.1 billion at a fixed annual interest rate of 2.80%. An amount of RMB4.008 billion from this new loan facility was drawn down in January 2025 and used to fully prepay all former offshore facilities. Drawing down a loan facility with a lower fixed interest rate to prepay loans with higher fixed interest rates has resulted in substantial savings on interest expenses for CMC REIT.

In December 2025, CMC REIT, through its wholly-owned subsidiary, signed an agreement to acquire its first student accommodation project in Hong Kong. The property has a gross floor area of approximately 23,600 sq. ft. and enjoys a prime location adjacent to The Hong Kong Polytechnic University. The property was valued at HK$213 million in November of the same year. The acquisition consideration represents a 3.3% discount, with the purchase price (before current asset adjustments) at approximately HK$206 million. Following the completion of the acquisition, the Trust plans to renovate the property into a modern student accommodation with approximately 85 beds, while the lower floors will be transformed into communal living spaces, such as a lounge and fitness center. This strategic move will further optimize the Trust’s asset portfolio and deliver long-term, sustainable value and returns to Unitholders.

Core Property Portfolio Remains Relatively Stable; Retail Property Bucks the Trend with Growth
During the reporting year, the average occupancy rate of our office building portfolio experienced a decline, dropping by 12.8 percentage points from 89.8% at the end of 2024 to 77.0% at the end of 2025. Grade A office buildings performed steadily compared to the interim period. New Times Plaza successfully secured leases with several high-quality tenants at year-end, driving its occupancy rate up by 9.7 percentage points to 66.1% compared to the interim period. However, the three properties in Shekou Net Valley (Technology Building, Technology Building 2, and Cyberport Building) saw a decline in occupancy rates, primarily due to the downward adjustment of Grade A office rentals intensifying market competition, coupled with the expiration of leases from certain anchor tenants at the end of the year.

Our retail property, Garden City Shopping Centre, maintained robust operational performance during the period. Amidst generally stable passing rents, its occupancy rate continued to climb, reaching 96.5%. Looking ahead, driven by sustained growth in foot traffic, a gradual recovery in consumer spending, and the influx of visitors from Metro Line 12, the operational performance and market competitiveness of Garden City Shopping Centre are expected to remain solid and positive. In 2025, along with the further improvement in its occupancy rate, the valuation of Garden City Shopping Centre increased by RMB31 million year-on-year, rising from RMB1,486 million to RMB1,517 million.

Outlook: Resolutely Advancing Strategic Transformation and Seeking More High-Quality Investment Opportunities
In 2026, the global and domestic economic environments will continue to face multiple challenges, with prominent overall operational pressures. Externally, persistent global geopolitical conflicts will disrupt the stability of global supply chains, indirectly impacting corporate operations and consumer sentiment. Domestically, the economy is still in a phase of mild recovery, consumer sentiment has yet to fully rebound, the downturn in the real estate sector is unlikely to fundamentally reverse in the short term, and the supply-demand imbalance in the commercial real estate market is becoming increasingly apparent. Grade A office buildings in Shenzhen and Beijing are expected to see a massive influx of new supply. Coupled with a potential further contraction in short-to-medium-term demand, the market oversupply will become more pronounced, rental levels will continue to face downward pressure, and vacancy rates may climb further. The retail property market, influenced by weak consumption recovery, will see tenants’ operational pressures gradually shifting to the leasing side, keeping rental and vacancy metrics under pressure.

Mr. YU Zhiliang, Chairman and Non-executive Director of CMC REIT, stated: “Facing multiple challenges, the Manager will actively advance the strategic transformation of the Trust. On one hand, we will flexibly adjust leasing strategies, broaden business formats, and seek a diversified tenant base. On the other hand, the Manager is proactively expanding our diversified asset layout. Through the acquisition of the student accommodation project on Austin Avenue in Kowloon, Hong Kong, we are unlocking counter-cyclical asset value, diversifying revenue sources, and laying the foundation for long-term, stable returns for the Trust. The renovation of the Hong Kong student accommodation is expected to be completed in August 2026, after which we will continue to optimize its operating model. Looking ahead, the Manager will steadfastly drive this transformation. While consolidating the operational quality of our core assets, we will actively cultivate new profit growth engines and explore more high-quality, diversified asset investment opportunities across Greater China. By steadily implementing these transformation initiatives, we will further optimize CMC REIT’s revenue structure to achieve long-term, sustainable growth in distribution per unit.”

About China Merchants Commercial REIT
China Merchants Commercial REIT is a Hong Kong collective investment scheme constituted as a unit trust and authorised under section 104 of the SFO. China Merchants Commercial REIT was launched by a well-known state-owned enterprise: China Merchants Shekou Industrial Zone Holdings Co., Ltd. (001979.SZ). It was listed on the Main Board of the Hong Kong Stock Exchange in December 2019, marking the first successful listing of a REIT in Hong Kong since 2014. It is also the first REIT to be managed by a state-owned corporation of the People’s Republic of China. China Merchants Commercial REIT is a REIT formed to primarily own and invest in high quality income-generating properties in China. China Merchants Commercial REIT is managed by the REIT Manager and currently holds seven high-quality properties, with five located in Shekou, Shenzhen, one located in Beijing, and one located in Hong Kong. The REIT Manager’s key investment objectives are to provide Unitholders with stable distributions and sustainable and long-term distribution growth.

For more information about China Merchants Commercial REIT, please visit its corporate website: http://www.cmcreit.com/ .

GMG Productions, David Ian For Crossroads Live and Work Light Productions Presents The Regent’s Park Open Air Theatre Production of Jesus Christ Superstar


THE AWARD-WINNING PRODUCTION OF THE GLOBAL PHENOMENON JESUS CHRIST SUPERSTAR WILL VISIT THE GRAND THEATRE, HONG KONG CULTURAL CENTRE FROM 8 JULY AS PART OF ITS INTERNATIONAL TOUR

TIM RICE AND ANDREW LLOYD WEBBER’S ICONIC ROCK MUSICAL COMES TO HONG KONG FOR THE VERY FIRST TIME

PRIORITY BOOKING FROM25 -26 MARCH | PUBLIC SALE ON 27 MARCH

HONG KONG SAR – Media OutReach Newswire – 17 March 2026 – Following several acclaimed and sold-out runs in London as well as an extensive tour of North America, UK and Australia, the Olivier Award-winning reimagined production of Tim Rice and Andrew Lloyd Webber’s celebrated musical JESUS CHRIST SUPERSTAR will visit the Grand Theatre, Hong Kong Cultural Centre from 8 July as part of a major international tour, giving Hong Kong audiences their first opportunity to experience Tim Rice and Andrew Lloyd Webber’s legendary rock musical live on stage.

GMG Productions, David Ian For Crossroads Live and Work Light Productions Presents The Regent’s Park Open Air Theatre Production of Jesus Christ Superstar
“A gorgeous, thrilling, heavenly musical.”
The Guardian
“Hallelujah! An almighty revelation.”
The Daily Telegraph

Featuring lyrics and music by Emmy, GRAMMY, Oscar and Tony winners Tim Rice and Andrew Lloyd Webber, this production was reimagined by London’s Regent’s Park Open Air Theatre where it originated and is helmed by director Timothy Sheader and choreographer Drew McOnie. Completing the creative team is design by Tom Scutt, lighting design by Lee Curran, sound design by Nick Lidster and music supervision by Tom Deering.

A global phenomenon that has wowed audiences for decades, JESUS CHRIST SUPERSTAR is a timeless work that explores the biblical portrayal of the extraordinary events that led to the death and resurrection of Jesus Christ as seen through the eyes of his betrayer, Judas Iscariot. The story, told entirely through song, explores the personal relationships and struggles among Jesus, Judas, Mary Magdalene, Jesus’ disciples, his followers and the Roman Empire. Originally released as a concept album, the iconic 1970s rock score contains such well-known numbers as ‘Superstar’, ‘I Don’t Know How to Love Him’, and ‘Gethsemane’.

JESUS CHRIST SUPERSTAR opened on Broadway in 1971 at the Mark Hellinger Theatre. The original London production opened at the Palace Theatre on 9 August 1972 and ran for over eight years. By the time it closed, after 3,358 performances, it had become the longest-running musical in West End history at that time. JESUS CHRIST SUPERSTAR has been reproduced regularly around the world in the years since its first appearance, with performances including a Broadway revival in 2012, an ITV competition TV show called Superstar that led to casting Ben Forster as Jesus in an arena tour of the show, and a production at the Regent’s Park Open Air Theatre celebrating 45 years since the musical’s Broadway debut. JESUS CHRIST SUPERSTAR will also have a limited run at the iconic London Palladium in summer 2026, starring Sam Ryder as Jesus. Produced by Michael Harrison for Lloyd Webber Harrison Musicals, this production was originally created and produced at Regent’s Park Open Air Theatre.

Producer David Ian said: This Olivier Award-winning production of JESUS CHRIST SUPERSTAR has amazed audiences around the world, and we are thrilled to bring this phenomenon to the stage in Hong Kong. Marking the first Hong Kong season of Tim Rice and Andrew Lloyd Webber’s iconic rock musical, this engagement promises a spectacular new chapter for local audiences.”

GMG Productions CEO Carlos Candal shares“GMG Productions is thrilled to be bringing this extraordinary show to Hong Kong. Building on our growing success across Asia, we are proud to present such a dynamic and high-calibre production as part of our long-term commitment to delivering world-class entertainment in the region.”

This production of JESUS CHRIST SUPERSTAR won the 2017 Olivier Award for Best Musical Revival and the 2016 Evening Standard Award for Best Musical, selling out two consecutive engagements in 2016 and 2017. The production played a West End engagement at the Barbican in 2019 before returning to Regent’s Park Open Air Theatre in concert version during the summer of 2020, followed by a universally acclaimed UK tour in 2023/24.

Casting to be announced.

The 2026 Tour of JESUS CHRIST SUPERSTAR is produced by David Ian for Crossroads Live and Work Light Productions. The original production was produced by London’s Regent’s Park Open Air Theatre.

JESUS CHRIST SUPERSTAR will be performed in English with Chinese surtitles.

Tickets for the Hong Kong season will go on sale soon. Sign up to our online Priority List now at https://jesuschristsuperstar.hk to enjoy a 10% discount during Priority Booking from 25 March, 10am, for 48 hours. General Public Ticket Sales launch on 27 March; tickets are priced from HK$588 to $1,088.

For additional information about this production, please visit https://jesuschristsuperstar.hk

Facebook & Instagram: @GMGProductionsHK

SHOW AND TICKETING INFORMATION

DATES:
8 July – 1 August 2026

PERFORMANCE TIMES:
Tuesdays- Fridays: 8pm
Saturdays: 3pm and 8pm
Sundays: 2pm and 7pm

VENUE:
Grand Theatre, Hong Kong Cultural Centre, 10 Salisbury Rd, Tsim Sha Tsui

PERFORMANCE DURATION: 1 hour 50 mins including interval

TICKET PRICES:

VIP HK$1,088
A Reserve HK$988
B Reserve HK$888
C Reserve HK$688
D Reserve HK$588
Concession VIP HK$988
Concession A HK$888
Concession B HK$788

Concession tickets are available to full-time students, senior citizens aged 60 or above, persons with disabilities and CSSA recipients.

Performed in English, with Chinese surtitles

BOOKINGS
Website: https://jesuschristsuperstar.hk
Priority Booking from 25 March, 10am, for 48 hours; General Public Sales from 27 March.

Hashtag: #JesusChristSuperstar

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