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Laos Issues Payment Guidelines for 1% Digital Revenue Contribution

Laos Issues Payment Guidelines for 1% Digital Revenue Contribution. (Photo: United Nations Development Programme)

The Ministry of Technology and Communications has officially detailed enforcement measures for a regulation requiring all digital service providers in Laos to contribute 1 percent of their gross revenue to the Digital Telecommunications Development Fund (DTTDF), a key component of the country’s push for nationwide digital transformation.

In a notice released on 19 May, the Ministry outlined payment procedures, deadlines, and compliance expectations, marking the most concrete guidance since the DTTDF decree was issued on 30 May 2024.

The regulation, which first took effect on 1 July 2024, applies to telecommunications and internet service providers, postal businesses, and digital service companies. The 1 percent contribution is calculated based on gross revenue, excluding indirect taxes such as excise tax and value-added tax (VAT).

According to the latest guidelines, companies must report their contributions for the July-December 2024 and January-May 2025 periods to the DTTDF by 30 June. 

Beginning June 2025, monthly submissions are required by the 20th day of the following month. 

The DTTDF decree has been announced since 30 May 2024, establishing the legal framework for this revenue-sharing mechanism.

According to the DTTDF, the fund serves multiple strategic purposes, including critical telecom and digital infrastructure to boost national security and remote connectivity. 

It also invests in digital governance, workforce development, and affordable services in sectors like education and health. 

The fund drives nationwide digital transformation. Its mandatory contributions ensure steady progress toward Laos’ digital goals.

OSL Wealth Debuts Stablecoin Yield-Generating Product via Ethena

TL;DR: OSL Wealth Partnership with Ethena, giving institutional clients dollar-pegged stability, auto-compounding on-chain yield, and daily liquidity.

HONG KONG, May 28, 2025 /PRNewswire/ — OSL Wealth, under OSL Group, announces a new yield-generating product that seamlessly channels the performance of Ethena Labs’ Staked USDe (sUSDe) to OSL’s professional and institutional clients.

Clients simply trade through OSL’s OTC desk—using USD or USDT—and receive an instrument that (i) auto-compounds historically low-to-mid-teen net APY into its price, (ii) maintains constant 1:1 redemption into USDe for dollar stability, (iii) offers business-day subscriptions and redemptions with no lock-ups or performance fees, and (iv) is safeguarded around the clock in OSL’s segregated, insured custody.

sUSDe is the reward-bearing version of Ethena’s synthetic stablecoin, USDe. By pairing ETH collateral with short perpetual-futures hedges, the underlying protocol harvests funding-rate income and staking rewards, compounding them into the token’s value while preserving a 1:1 dollar peg. OSL Wealth now wraps that mechanism inside its own regulated offering, so clients can benefit from sUSDe’s yield without managing staking wallets, on-chain hedges, or complex custody flows.

Tony Luk, Head of OSL Wealth stated, “Our clients want dollar stability that earns a real return, delivered through an institution they already trust. By integrating sUSDe under OSL’s compliance, custody, and security framework, we’ve turned a technically demanding DeFi strategy into a turnkey income product.”

“OSL has set the bar for regulated digital asset services in Asia,” noted Steven Shi, Head of Institutional Growth, Ethena Labs. “Their adoption of sUSDe brings our yield-bearing stablecoin to an audience that demands both transparency and institutional-grade safeguards.”

¹ Past performance is not indicative of future results. Yield fluctuates with perp-funding rates and staking returns.

About OSL Hong Kong

As a subsidiary of the publicly listed OSL Group (HKEX: 863.HK), OSL Digital Securities is Hong Kong’s first and most established SFC-licensed and insured digital asset platform. Operating since 2018, the platform provides institutional-grade digital asset services to corporations, financial institutions, professional and retail investors.

OSL Hong Kong delivers services across five core domains: OTC brokerage, Omnibus broker solutions, custody, wealth management, and retail services. The OTC brokerage services provide 24/7 high-liquidity crypto trading with fiat on/off-ramp services. Custody solutions feature client-asset segregated wallet management backed by US$1 billion insurance coverage. The wealth management suite offers crypto investments to traditional investors, including tokenised treasuries, RWAs, structured crypto products, and quant investment strategies. Retail services bring institution-grade security and crypto access to professional and retail investors.

As a pioneer in bridging traditional finance and the digital asset economy, OSL Group adheres to its core concept: Open, Secure, and Licensed, empowering the next generation of global financial infrastructure. In addition to Hong Kong, OSL Group expands operations under full regulatory compliance in Japan, Australia, Europe and beyond.

For more information, visit osl.com.

About Ethena Labs 

Ethena is the protocol behind USDe, the third-largest and fastest growing USD-denominated crypto asset in history. Ethena has $6.2 billion in TVL today, alongside integrations with some of the largest centralized exchanges and major DeFi applications. Ethena Labs, a contributor to the protocol, is backed by Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit and OKX among others.

Inflation Eases to 8.3% in May, But Key Prices Remain High

Adapting to Adversity How Lao Citizens Cope with Rising Prices
FILE: this image is used for representational purpose (photo: Laos Tours)

The inflation rate in May stood at 8.3 percent, showing a significant drop from 11.1 percent in April, according to a report from the Lao National Statistic Bureau. While this suggests some relief for consumers, prices of many essential goods and services continue to rise.

Citi hosts the Citi Singapore Macro and Pan Asia Investor Conference from 28 to 30 May

SINGAPORE, May 28, 2025 /PRNewswire/ —

  • Citi hosts the Citi Singapore Macro and Pan Asia Investor Conference from 28 to 30 May
  • The conference brings together distinguished political and economic experts for a series of multi-dimensional discussions focused on the latest geopolitical developments, economic outlook and topical investment themes impacting the financial industry.
  • Over the next three days, Citi is expecting over 1,500 delegates including clients, investors, corporates, family offices, and private bankers to attend the conference, which includes over 20 panels and presentations and almost 7,000 meetings between corporates and experts.
  • Key speakers include: Robert Lighthizer, Chair of the Center for American Trade at AFPI and Former United States Trade Representative and Senior Advisor to Citi’s clients on global trade, Loretta Mester, Former President and CEO, Federal Reserve Bank of Cleveland, and Dr Lawrence Summers, Former United States Secretary of the Treasury.
  • Sue Lee, Head of Markets for Asia South at Citi, said, “We are entering a new era of trade policy and globalization, marking a deep structural shift in how markets move and how businesses operate. Citi’s leading Markets franchise with a wide global footprint uniquely positions us to support our clients as they navigate this new environment.”

Citi’s Markets business serves corporates, institutional investors, and governments from trading floors in almost 80 countries. The strength of our underwriting, sales and trading and distribution capabilities span asset classes (Commodities, Equities, Rates, Spread Products and FX), providing us with an unmatched ability to meet the needs of our clients.

APR Advances in Vietnam with Sustainable Textiles as Viscose and Lyocell Take Centre Stage

  • APR introduces its sustainably produced Viscose and Lyocell by Sateri fibres to the Vietnamese market
  • SaigonTex 2025 represents APR’s largest presence in Vietnam to date, reinforcing its commitment to the country’s growing textile industry

SINGAPORE – Media OutReach Newswire – 28 May 2025 – Asia Pacific Rayon (APR), a leading global manufacturer of viscose staple fibre products, has rolled out its viscose and lyocell products to potential buyers at the SaigonTex 2025 trade show, as part of a wider effort to support the creation of a more sustainable textiles sector in Vietnam.

At SaigonTex, APR, a member of the Royal Golden Eagle (RGE) group of companies, shared its global expertise with the growing local market to help create a deeper understanding of how sustainable textile fibres can contribute to the long term growth of the textile sector in Vietnam.

The APR booth, themed “Experience Lyocell, Feel the Difference”, has been a focal point at SaigonTex. APR exhibited the latest developments with its APR viscose and Lyocell by Sateri fibres, focusing on responsible production and eco fashion for a wide array of applications.

Sachin Malik, APR Head of Commercial, said: “We have seen a strong interest in APR’s viscose and Lyocell by Sateri, a sister company of APR. We believe that increased awareness and adaptation of these fibres hold promising opportunities to establish Vietnam as a hub for sustainable textiles, and we’re excited to be a part of that journey.”

Amit Baid, Head of International Sales at APR, said: “Vietnam is an important market for us, not just in South East Asia, but also on the global map. The connections and insights we gained for the Vietnam market at SaigonTex 2025 are invaluable. We are committed to providing ongoing support to local businesses and developing applications as per the market dynamics.”

Visitors to the APR booth experienced firsthand the unique properties of these fibres and learned about the company’s dedication to driving positive change in the textile industry. With the success of this exhibition, APR reaffirms its commitment towards Vietnam and the growth of the country’s textile sector.

APR is firmly focused on sustainable practices with its APR2030 agenda, outlining four key pillars and corresponding targets for the next decade. The company strives to be a world-class Viscose Staple Fibre (VSF) manufacturer, consistently exceeding the requirements of the European Union Best Available Techniques (EU BAT) and ZDHC Man-made Cellulosic Fibre (MMCF) guidelines, setting a high bar for sustainable viscose production.

Hashtag: #RGE #RoyalGoldenEagle #APR #Lyocell #EcoFashion #Sustainability #SustainableFashion #viscose #rayon #fibre

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

About APR

Asia Pacific Rayon (APR), based in Indonesia, is Asia’s first fully integrated viscose rayon producer, from plantation to fibre. APR, which has a capacity of 325,000 tons per year, is located in Pangkalan Kerinci, Riau Province, Indonesia. APR is committed to becoming a leading viscose staple fibre producer with the principles of sustainability, transparency and operational excellence, and serving the interests of the community, country and climate, while providing value to customers. APR is part of the RGE group of companies.

Perennial Holdings Signs Agreement with Guangzhou Metro to Establish the First Wholly Foreign-Owned Tertiary General Hospital in Guangzhou and Southern China

SINGAPORE, May 28, 2025 /PRNewswire/ — Perennial Holdings Private Limited (“Perennial Holdings“) entered into an agreement with Guangzhou Metro Group Co. Ltd (“Guangzhou Metro“), where Perennial Holdings will lease approximately 105,000 square metres of space and invest approximately RMB1 billion to establish a tertiary general hospital and a specialist hospital at the Southeast Tower of Yuesheng Plaza, which is adjacent to the Baiyun High Speed Railway (“HSR“) station in Guangzhou. The general hospital will be the first wholly foreign-owned tertiary general hospital in Guangzhou and Southern China. The two medical facilities will have a total planned capacity of over 600 beds.

The signing ceremony was witnessed by government officials, including Mr Lai Zhihong, Vice Mayor of Guangzhou Municipal People’s Government, Ms Cindy Wee, Consul-General of the Singapore Consulate-General in Guangzhou, and guests from various sectors.

Perennial Holdings' first wholly foreign-owned tertiary general hospital in Guangzhou and Southern China and new specialist hospital (Southeast Tower of Yueshang Plaza)
Perennial Holdings’ first wholly foreign-owned tertiary general hospital in Guangzhou and Southern China and new specialist hospital (Southeast Tower of Yueshang Plaza)

At the two hospitals, a shared medical facilities and services concept (“Shared Medical Platform“) will be implemented. This Singapore-modelled Shared Medical Platform will allow doctors and medical groups to operate on an asset-light basis, where they focus solely on providing medical consultations and treatments without investing in medical facilities and services. Instead, they will leverage on the Shared Medical Platform provided and managed by Perennial Holdings, including advanced operating theatres, cutting-edge diagnostic imaging equipment and an extensive clinical laboratory. This model has been successfully implemented in Perennial Holdings’ general hospital in Tianjin, China’s first wholly foreign-owned tertiary general hospital, which commenced operations earlier this year. The model has been proven to offer convenience and cost efficiency to doctors and medical groups, allowing them to grow and scale their practices across Perennial Holdings’ healthcare-centric HSR transit-oriented developments (“TODs“). Works are expected to commence in July 2025 and completed within one year.

These two hospitals form the first phase of the Perennial Baiyun International Healthcare City, which is expected to span over 1.18 square kilometres and conceptualised under the strategic partnership agreement signed between Perennial Holdings and the Guangzhou Baiyun District Government in end-2024. To be developed at an estimated total investment cost of RMB5 billion, Perennial Holdings will work closely with the Guangzhou Baiyun District Government to jointly attract investments and high-quality local and international medical resources and institutions, as well as promote resource sharing to accelerate the successful implementation of the landmark precinct.

The Perennial Baiyun International Healthcare City is envisioned to be a medical and wellness precinct integrating medical, wellness, research, training, commercial and residential components. The medical component, encompassing high-end hospitals and biomedical facilities across diverse disciplines, is poised to become an international healthcare service hub for Southeast Asia and Asia-Pacific. Supported by telemedicine capabilities and smart medical devices, this comprehensive medical component is expected to offer medical treatment and care across all life stages, including preventive, acute, chronic and end-of-life care.

Mr Pua Seck Guan, Executive Chairman and Chief Executive Officer of Perennial Holdings, said, “We are pleased to establish the first wholly foreign-owned tertiary general hospital in Guangzhou and Southern China, as well as a specialist hospital at Guangzhou Metro’s Yuesheng Plaza. The RMB1 billion investment aligns with our strategic focus on healthcare-centric HSR TODs, which serve as enablers of our healthcare business, and marks our maiden healthcare business foray into the Guangdong-Hong Kong-Macao Greater Bay Area. We are also excited with the inking of our next milestone, with the establishment of our second wholly foreign-owned tertiary general hospital in China, following our first in Tianjin.”

Mr Pua added, “Guangzhou is a destination of choice for medical care. Our hospitals’ strategic location in Guangzhou Baiyun’s city centre and their proximity to the Baiyun HSR station provide access to a population catchment of over 100 million across the Greater Bay Area. Our asset-light Shared Medical Platform for doctors and medical groups, coupled with Guangzhou’s international aviation hub status, facilitates global partnerships with renowned overseas doctors and medical groups. Additionally, the city’s abundant medical resources, renowned western and traditional Chinese medicine hospitals, top academic institutions and skilled local talent, combined with its conducive business environment and efficient government system, provide crucial support for our hospitals’ successful execution. Guangzhou’s comfortable climate and diverse cuisine are also ideal for local and international patients seeking treatments and post-operative recuperation.”

Mr Pua Seck Guan, further added, “With a professional team of international medical practitioners, advanced medical equipment and high standards of personalised care, our general and specialist hospitals will establish Guangzhou as a top medical tourism destination, attracting high-net-worth clients from the Asia Pacific region. Over time, as we work in unison with the Guangzhou Baiyun District Government to develop the wider Perennial Baiyun International Healthcare City to bring in internationally-renowned medical players in precision medicine, smart health services, advanced medical technology and management systems, it will further raise Guangzhou’s standing as a premier medical hub and inject new momentum into the development of the healthcare industry of the Greater Bay Area.”

Separately, Perennial Holdings is also developing an integrated eldercare project in Guangzhou’s Huangpu District. The project will feature a rehabilitation hospital, nursing home and an eldercare home, ensuring a seamless continuum of care that addresses the diverse needs across the Greater Bay Area for quality eldercare, professional rehabilitation and nursing care.

In China, Perennial Holdings has five healthcare-centric TODs which are connected to HSR stations, located in Tianjin, Chengdu, Kunming, Xi’an and Chongqing. The company owns, manages and operates over 25,000 beds in medical and eldercare facilities, comprising about 16,000 operational beds and over 9,000 beds in the pipeline, across 14 cities in China and Singapore. 

– END –

For media enquiries, please contact:

 

Ms Tong Ka-Pin

Chief Corporate Officer

DID: (65) 6602 6828

HP : (65) 9862 2435

Email: tong.ka-pin@perennialholdings.com 

 

Ms Crystal Tan

Assistant Manager, Investor Relations, Corporate Communications & Marketing

DID: (65) 6602 0994

HP : (65) 8128 8268

Email: crystal.tan@perennialholdings.com 

About Perennial Holdings Private Limited (www.perennialholdings.com)

Perennial Holdings Private Limited (“Perennial Holdings“) is an established integrated healthcare and real estate company headquartered in Singapore. The company owns, manages and operates over 25,000 beds in medical and eldercare facilities, comprising about 16,000 operational beds and over 9,000 beds in the pipeline, across 14 cities in China and Singapore. In China, Perennial Holdings owns and operates the country’s first private integrated healthcare ecosystem, which combines a unique medical platform centred on partnerships with doctors and one of the largest private eldercare platforms in the country. Its comprehensive medical care facilities encompass general, rehabilitation, specialist and nursing hospitals, while its eldercare facilities include independent living, assisted living, nursing homes and dementia care. In Singapore, the Company will operate the nation’s first private assisted living development and is set to launch the country’s first-of-its-kind private integrated rehabilitation and traditional Chinese medicine sanctuary.

Perennial Holdings’ quality real estate portfolio spans over 84 million square feet in total gross floor area across China, Singapore, Malaysia and Indonesia. The company focuses strategically on large-scale transit-oriented developments (“TODs“), serving as enablers of its healthcare portfolio, and landmark integrated developments. It has six TODs in China which are connected to high-speed railway (“HSR“) stations, of which five located in Tianjin, Chengdu, Kunming, Xi’an and Chongqing, are healthcare-centric, and one commercial-centric HSR TOD is in Hangzhou.

Issued by Perennial Holdings Private Limited (Company Registration: 200210338M)

CARsgen’s Satri-cel Granted Priority Review by the NMPA

SHANGHAI, May 28, 2025 /PRNewswire/ — CARsgen Therapeutics Holdings Limited (Stock Code: 2171.HK), a company focused on developing innovative CAR T-cell therapies, announces that the Center for Drug Evaluation (CDE) of China’s National Medical Products Administration (NMPA) has granted Priority Review to satricabtagene autoleucel (“satri-cel”, CT041)(an autologous CAR T-cell product candidate against protein Claudin18.2), for the treatment of Claudin18.2-positive advanced gastric/gastroesophageal junction adenocarcinoma (G/GEJA) in patients who have failed at least two prior lines of therapy.

About Satri-cel

Satri-cel is an autologous CAR T-cell product candidate against the protein Claudin18.2 that has the potential to be the first-in-class globally. Satri-cel targets the treatment of Claudin18.2-positive solid tumors with a primary focus on G/GEJA and pancreatic cancer (PC). Initiated trials include investigator-initiated trials (CT041-CG4006, NCT03874897), a confirmatory Phase II clinical trial for advanced G/GEJA in China (CT041-ST-01, NCT04581473), a Phase Ib clinical trial for PC adjuvant therapy in China (CT041-ST-05, NCT05911217), an investigator-initiated trial for satri-cel be used as consolidation treatment following adjuvant therapy in patients with resected G/GEJA (CT041-CG4010, NCT06857786), and a Phase 1b/2 clinical trial for advanced gastric or pancreatic adenocarcinoma in North America (CT041-ST-02, NCT04404595). Satri-cel has been granted Breakthrough Therapy Designation by the CDE of China’s NMPA for the treatment of Claudin18.2-positive advanced G/GEJA in patients who have failed at least two prior lines of therapy in March 2025. Satri-cel was granted Regenerative Medicine Advanced Therapy designation by U.S. FDA for the treatment of advanced G/GEJA with Claudin18.2-positive tumors in January 2022. Satri-cel received Orphan Drug designation from the U.S. FDA in September 2020 for the treatment of G/GEJA.

About CARsgen Therapeutics Holdings Limited

CARsgen is a biopharmaceutical company focusing on developing innovative CAR T-cell therapies to address the unmet clinical needs including but not limited to hematologic malignancies, solid tumors and autoimmune diseases. CARsgen has established end-to-end capabilities for CAR T-cell research and development covering target discovery, preclinical research, product clinical development, and commercial-scale production. CARsgen has developed novel in-house technologies and a product pipeline with global rights to address challenges faced by existing CAR T-cell therapies. Efforts include improving safety profile, enhancing the efficacy in treating solid tumors, and reducing treatment costs, etc. CARsgen’s mission is to be a global biopharmaceutical leader that provides innovative and differentiated cell therapies for patients worldwide and makes cancer and other diseases curable.

Forward-looking Statements

All statements in this press release that are not historical fact or that do not relate to present facts or current conditions are forward-looking statements. Such forward-looking statements express the Group’s current views, projections, beliefs and expectations with respect to future events as of the date of this press release. Such forward-looking statements are based on a number of assumptions and factors beyond the Group’s control. As a result, they are subject to significant risks and uncertainties, and actual events or results may differ materially from these forward-looking statements and the forward-looking events discussed in this press release might not occur. Such risks and uncertainties include, but are not limited to, those detailed under the heading “Principal Risks and Uncertainties” in our most recent annual report and interim report and other announcements and reports made available on our corporate website, https://www.carsgen.com. No representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any projections, targets, estimates or forecasts contained in this press release.

Regulators Collaborate with HKCGI at ACRU 2025 to Promote Governance for Growth

The Hong Kong Chartered Governance Institute will host its flagship annual conference on 6 June 2025, delivering key regulatory updates and fostering meaningful professional dialogues to help governance professionals to navigate today’s changing business environment.

HONG KONG, May 28, 2025 /PRNewswire/ — The Hong Kong Chartered Governance Institute (HKCGI) is gearing up to host its 26th Annual Corporate and Regulatory Update (ACRU) conference on Friday, 6 June 2025, at the Hong Kong Convention and Exhibition Centre. This flagship event, a must-attend for governance professionals, directors, senior executives, and practitioners, provides the latest insights on regulatory changes, compliance requirements, and enforcement practices.

For 26 years, ACRU has served as a valuable forum for exploring regulatory trends and best practices. The conference attracted over 2,200 in-person and online participants in 2024, and this year, it has already surpassed that number, reiterating the demand for forums like ACRU. Guided by HKCGI’s 2025 theme of ‘Governance for Growth’, ACRU improves attendees’ capacity building, equipping them with practical knowledge for tackling emerging governance challenges. With registration open until 30 May, attendees still have the opportunity to enrol for the conference and join this growing community.

This year’s programme will feature six major government authorities and regulators sharing updates on pertinent topics, including listing rules, digital securities, and compliance and enforcement developments. Sessions will address the ongoing changes in capital markets and governance practices, covering topical areas including technology solutions for corporate verification, disclosure requirements, upcoming Companies Ordinance amendments, and more.

“ACRU has become central to our professional development calendar, creating a trusted space where government authorities, regulators and practitioners can exchange actionable insights,” said Mr David Simmonds FCG HKFCG, President of HKCGI. “Understanding regulatory expectations is now a business necessity. We welcome both returning speakers and new voices—notably the Digital Policy Office—as we work towards growth through sound governance.”

Ms Ellie Pang  FCG HKFCG(PE), Chief Executive  of HKCGI, added, “ACRU gives those working in the governance role and other professionals the tools to adapt with confidence. By bringing together regulators, policymakers, and industry leaders, we’re developing governance approaches that create genuine opportunities—this is what ‘Governance for Growth’ means in practice.”

HKCGI extends its gratitude to all speakers, chairs, sponsors, and supporting organisations for their support in making ACRU 2025 possible. Visit ACRU’s website for more information about the event, and to register for this forum shaping the future of governance in Hong Kong.

For Media Inquiries:

HKCGI Marketing Department
+852 2881 6177
marketing@hkcgi.org.hk

About The Hong Kong Chartered Governance Institute (Incorporated in Hong Kong with limited liability by guarantee)

The Hong Kong Chartered Governance Institute (HKCGI) is the sole accrediting body in Hong Kong and the Chinese mainland for the globally recognised Chartered Secretary and Chartered Governance Professional qualifications. Formerly known as The Hong Kong Institute of Chartered Secretaries (HKICS), HKCGI is the Hong Kong/China Division of The Chartered Governance Institute (CGI).

With a legacy of over 75 years, HKCGI has established itself as a trusted and reputable professional body in the region. Its influence extends to CGI’s global network of around 40,000 members and students, making it one of its fastest-growing divisions. HKCGI’s community comprises about 10,000 members, graduates, and students, with significant representation in listed companies and diverse governance roles across various industries.

Guided by the belief that governance leads to better decision-making and a better world, HKCGI is committed to advancing governance in commerce, industry, and public affairs. It achieves this through education, thought leadership, advocacy, and active engagement with its members and the broader community. As a recognised thought leader, HKCGI promotes the highest standards of governance while advocating for an inclusive approach that considers the interests of all stakeholders, and ensures that every voice is heard and valued.

Better Governance. Better Future.
For more information, please visit www.hkcgi.org.hk.