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BAFS Reports Strong 2024 Performance with First Profit in Five Years at THB 102.9M, Approves THB 0.30 Yearly Dividend, Eyes Asian Market Expansion in 2025


BANGKOK, THAILAND – Media OutReach Newswire – 24 February 2025 – BAFS has announced its 2024 financial results, reporting total revenue of THB 3.507 billion and a net profit of THB 102.9 million, marking a 175% increase from the previous year and the company’s first profitable year since the COVID-19 pandemic. This turnaround to profitability was driven by a high volume of aviation fuel refueling and pipeline oil transportation. BAFS plans to distribute a yearly dividend of THB 0.30 per share for 2024. Looking ahead to 2025, the company has allocated an investment budget exceeding THB 1 billion to strengthen its business and expand into Asian markets, targeting an 8% revenue growth.

M.L. Nathasit Diskul, President of BAFS demonstrated robust and consistent business growth in 2024
M.L. Nathasit Diskul, President of BAFS demonstrated robust and consistent business growth in 2024

M.L. Nathasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), stated that BAFS and its subsidiaries (BAFS Group) demonstrated robust and consistent business growth in 2024, leading to the company’s first profitable year since the COVID-19 outbreak in 2019, with a net profit of THB 102.9 million—a 175% increase from the previous year. This growth was primarily attributed to a surge in aviation fuel refueling volume, which reached 5.047 billion liters, exceeding expectations, along with a significant increase in northern pipeline oil transportation to 1.226 billion liters. These factors drove total revenue to THB 3.507 billion, reflecting a 14% year-over-year increase, in line with the recovery of the tourism sector. EBITDA also grew by 21% year over year, reaching THB 1.594 billion.

In Q4 2024, BAFS Group recorded total revenue of THB 955.4 million, a 19% year-over-year increase, with EBITDA of THB 343.9 million, supported by higher gross profits resulting from increased aviation fuel sales. Operating expenses rose by 1% while net finance costs decreased by 9% due to scheduled debt repayments to financial institutions and lower interest rates on commercial bank loans. The company recognized a Q4 loss due to a fair value adjustment of its investment in a Japanese power plant and an impairment of goodwill from a domestic power plant. Additionally, it wrote off deferred tax assets (DTA) that were deemed unlikely to be utilized in the future. These accounting adjustments had no cash flow impact and resulted in a Q4 net loss attributable to shareholders of THB 49.8 million.

Following its strong performance in 2024, the Board of Directors approved a dividend payout of THB 0.30 per share for 2024. This includes an interim dividend of THB 0.10 per share, paid on September 3, 2024, and a final dividend of THB 0.20 per share, scheduled for payment on May 22, 2025. The final dividend is subject to approval at the company’s 2025 Annual General Meeting.

BAFS Group will continue its commitment to sustainable growth in 2025, targeting an 8% revenue increase. With over THB 1 billion allocated for strategic investments, the company will collaborate with partners to explore new business opportunities while enhancing Thailand’s energy transportation infrastructure. A key project is the extension of the northern oil pipeline connecting Ang Thong and Saraburi led by BAFS Pipeline Transportation Co., Ltd. Construction is set to begin in Q1 2025, with commercial operations expected to commence in 2026. Once completed, the total length of the pipeline system will exceed 726 kilometers, making it the longest and most advanced oil transportation pipeline in Thailand and the longest in Southeast Asia.

Amid the ongoing energy transition and its challenges, BAFS Group remains committed to sustainable value creation and energy security. The company’s five-year strategic plan (2025-2029) focuses on three key pillars. The first pillar, Solid Financials for Uplifting Asia, involves expanding investments across Asia, leveraging BAFS Group’s capabilities to seek investment and growth opportunities in the Asian market. Two key contributors are BAFS INTECH Co., Ltd., which is driving the expansion of the aviation refueling truck market in Southeast Asia, and BAFS Clean Energy Corporation Co., Ltd., which is currently advancing investments in Mongolia.

The second pillar, Sustainability and Governance for a Thriving Future, focuses on supporting the transition of society and the aviation industry to a sustainable energy era, primarily by preparing for the adoption of sustainable aviation fuel (SAF). Last year, BAFS began SAF refueling services at Samui and Suvarnabhumi International Airports and recently obtained ISCC-CORSIA certification in the logistic center scope for its aviation fuel storage and refueling stations at Don Mueang and Suvarnabhumi Airports.

The third pillar, Re-imagining the Future of Work for Human Empowerment, emphasizes building a future-ready workforce by enhancing employees’ skills in generative AI and digital literacy to ensure adaptability to changes. BAFS is also assessing and preparing its IT infrastructure to provide employees with secure and convenient access to generative AI tools to boost efficiency.

Hashtag: #BAFS #BAFSGroup



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

British Council Singapore Honours Outstanding UK Alumni at the Study UK Alumni Awards 2025


SINGAPORE – Media OutReach Newswire – 24 February 2025 – British Council Singapore celebrated the achievements of exceptional UK alumni at the Study UK Alumni Awards 2025, held at The Fullerton Hotel Singapore, on 20 February. This flagship event honours individuals who have leveraged their UK education to make significant contributions to their professions, communities and societies.

British Council Singapore Honours Outstanding UK Alumni at the Study UK Alumni Awards 2025
British Council Singapore Honours Outstanding UK Alumni at the Study UK Alumni Awards 2025

The Study UK Alumni Awards are a testament to the power of education and collaboration in tackling common challenges and finding lasting solutions to these.

The 2025 Awards celebrated winners across four categories, each recognising the transformative impact of UK-educated Singaporean professionals:

  • Business and Innovation Award – Wen Si Chow, for promoting inclusion and equal opportunities for women in the STEM industry.
  • Culture and Creativity Award – Chong Soon Khong, for significant contributions to Singapore’s creative music landscape.
  • Science and Sustainability Award – Stephanie Choon Xia Liaw, for impactful work in energy transition and sustainability.
  • Social Action Award – Shalom Lim Ern Rong, for exceptional efforts in driving inclusion and positive change in society.

UK universities consistently excel in world rankings, with four featured in the 2025 QS World University Rankings top ten. The strength, depth and diversity of the UK higher education sector – from small conservatoires to large metropolitan universities – has always attracted students from all parts of the world, including close to 7000 students from Singapore who choose to pursue higher education in the UK every year.

The Study UK Alumni Award winners exemplify the value of their world-class UK education, using their expertise to drive innovation, address pressing challenges, and contribute to Singapore’s progress.

Speaking at the event, H.E. Nik Mehta OBE, British High Commissioner to Singapore, commended the awardees: “All four Singapore winners inspire me because they are making a difference to our world in fields ranging from science and sustainability to culture, social engagement, and business innovation. Their stories illustrate how higher education can be a life-changing experience – shaping minds, values, ambitions, and futures”.

On 9 August 1965, the UK was the first country to establish diplomatic relations with the newly independent Singapore. As Singapore celebrates its 60th birthday this year, the 2025 Awards hold special significance, underscoring the profound and enduring

educational and cultural ties between the UK and Singapore, cemented over these 60 years.

As Lissy Vadakel, Country Director for British Council Singapore, commented: “Through these Awards, we celebrate the achievements of outstanding UK alumni in Singapore. This is also an occasion for us to come together as a community, with at least one commonality: in one way or another, be that through our educational experiences, our professional lives, or our personal and social connections, we are part of the Singapore-UK fabric”.

The High Commissioner also reflected on the lasting impact of UK-educated Singaporeans in growing and strengthening bilateral relations: “At the heart of our countries’ partnership are our people, who have forged lifelong professional and personal connections in our communities. These ties contribute to the mutual trust and understanding between our countries today and will do so for years to come”.

The British Council remains committed to supporting and celebrating the aspirations of UK alumni worldwide, ensuring their achievements continue to inspire future generations.

For the editor

Recipients of Study UK Alumni Awards Singapore 2025

BUSINESS AND INNOVATION AWARDS

Wen Si Chow
University of Bristol
Wen Si Chow is a currently a Senior Legal Counsel at Mott MacDonald. She strongly believes in promoting inclusivity and equality within society. In this regard, her previous stint as a lawyer in private practice has seen her working on a pro bono basis and helping the less privileged in society access legal advice and representation. At Mott MacDonald, Wen Si also serves as the Asia Lead for Inclusive Networks for Women, a regional initiative which seeks to encourage the support of women within the organisation, in the hope that this advances the further promotion of women within the STEM industry as a whole. Wen Si credits her time at the University of Bristol with broadening her perspective on equality in society, as well as increasing her exposure to, and appreciation of, the unique cultural diversity that is found in Southeast Asia.

CULTURE AND CREATIVITY AWARD

Chong Soon Khong (Ken)
Bath Spa University
Dr Ken Chong is an award-winning composer, chart-topping songwriter, and an educator at tertiary institutions, including Nanyang Technological University. Ken’s accolades include Apple Music Best Song of 2016 (China) for his song “Rainbow Bot”, sung by Mandopop queen Stefanie Sun, as well as recognition for his music in full feature films, TV programmes, and advertisements. Bath Spa University was pivotal in Ken’s songwriting career, where almost half of his songs submitted for his Master of Music final year project were sold to popular Chinese music artists upon graduation. Ken attributes his success to the university’s ability to help him identify his strengths and passions, and then develop knowledge and skills towards achieving excellence. Ken recognises the benefits of music composition, often perceived as exclusive to a gifted few, and hopes to show how technology has democratised composing, such that anyone can create. He credits his UK educational journey with the impact he now has as a music teacher on his students at various institutes of higher learning in Singapore.

SCIENCE AND SUSTAINABILITY AWARD

Stephanie Choon Xia Liaw
University of Strathclyde
University of Birmingham
Stephanie Liaw is the Energy Lead for Singapore and Malaysia at Mott MacDonald, where she drives energy transition and sustainability initiatives across Asia. She is currently leading the cross-border interconnector projects at various phases to integrate green energy, connecting Singapore and the ASEAN Power Grid. Under her leadership, Mott MacDonald developed a model to assess interconnector impacts, funded by the UK FCDO under the UK-SG Green Economy Framework. Stephanie’s Engineering and MBA studies in the UK provided a transformative, multicultural experience, equipping her with valuable technical insights and business opportunities to advance energy transition in the region. Her enduring passion lies in ensuring equitable energy access in underdeveloped countries, advancing renewable energy by reducing carbon emissions, and enhancing community livelihoods through Just Transition principles. This passion continues to fuel her mission as an Energy Lead, committed to bringing clean energy to shape a more sustainable future for all.

SOCIAL ACTION AWARD

Shalom Lim Ern Rong
University of Liverpool
Shalom Lim is an artist and a writer, as well as an advocate dedicated to disability inclusion in Singapore. As a committee member on the Management Board of the Disabled People’s Association, he strives to improve social policies relating to disability and to shift public perspectives. He has also collaborated with K9Assistance to expand access to assistance dogs for individuals and families with non-vision disabilities in Singapore. Shalom’s storytelling, through books and performances, challenges perceptions and touches hearts, showing others that people with disabilities can thrive academically and contribute meaningfully. Pursuing Criminology and Security at the University of Liverpool shaped Shalom’s confidence in advocacy and his passion for justice and inclusion. The university’s open discussions helped him recognise the power of his voice in pushing for change. Shalom continues to use his art and writing to build a more inclusive society in Singapore, and to inspire others to see inclusion as a necessity, not a choice.

Hashtag: #BritishCouncilSingapore

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

About the British Council

The British Council is the UK’s international organisation for cultural relations and educational opportunities. We support peace and prosperity by building connections, understanding and trust between people in the UK and countries worldwide. We do this through our work in arts and culture, education and the English language. We work with people in over 200 countries and territories and are on the ground in more than 100 countries. In 2022–23 we reached 600 million people.

Sgcarmart introduces Buysafe, a New Standard for Quality Pre-Owned Cars

SINGAPORE, Feb. 24, 2025 /PRNewswire/ — Buysafe, a new pre-owned vehicle certification programme has been launched by Singapore’s leading car platform, Sgcarmart. Designed to provide greater confidence to car buyers on their purchases, it is now available on the platform’s used car section and serves as a seal of approval on pre-owned vehicles listed by a panel of curated dealerships.

Ensuring a safer, confident buying experience

Vehicles under this programme must undergo a detailed inspection by certified assessors, followed by a refurbishment process to ensure compliance with strict quality standards. Each vehicle is also backed by a 12-month warranty covering major vehicle components such as the engine, transmission and more.

For enhanced quality and trust, Buysafe is exclusively offered through select local Authorized Distributors and trusted Dealerships. With its stringent certification process and comprehensive warranty, Buysafe vehicles stand out as a more reliable and assured choice compared to regular used cars.

“At Sgcarmart, we’re here to make sure you’re making an informed decision, no stress. Our Buysafe programme means every car goes through a detailed inspection, so you get no surprises. Plus, Buysafe cars come with warranties for that extra peace of mind. Basically, we’ve got you covered, so you can drive away knowing you’ve made the right choice.” said Mr Yau Fun Heng – Chief Operating Officer of Sgcarmart.

Buysafe comes with exclusive perks for buyers

Along with Sgcarmart’s seal of approval on every Buysafe pre-owned car, the programme goes a step further by providing exclusive car ownership perks for buyers – such as 24/7 roadside assistance, free servicing and bespoke financing options tailored to their individual needs.

Buysafe is now available on more than 450 used car listings on Sgcarmart, and is set to extend to more pre-owned cars on the platform. For more information about Buysafe, please visit sgcarmart.com/buysafe

About Sgcarmart

Sgcarmart is Singapore’s #1 car platform. With over 30,000 listings, it offers the largest database of new and used cars, with an average of 10 cars sold every hour, helping to drive approximately 70% of all second-hand car transactions in Singapore. The platform receives more than 1.6 million users every month, offering the highest level of support for drivers with its suite of value-added car ownership & transactional services.

Digital Edge Announces Leadership Updates

John Freeman, Group President Selected as Next CEO; Two Industry Veterans to Join Board

SINGAPORE, Feb. 24, 2025 /PRNewswire/ — Digital Edge (Singapore) Holdings Pte Ltd. (“Digital Edge”), a leading developer and operator of interconnection and hyperscale edge data centers across Asia and portfolio company of Stonepeak, today announced that Group President John Freeman will succeed Samuel Lee as Chief Executive Officer, effective as of the second quarter of 2025. In conjunction, Samuel will transition to the role of Senior Advisor to the Board. Digital Edge also announced that industry veterans Maile Kaiser and Eanna Murphy will join the Board as non-executive directors.

John Freeman, Newly Appointed CEO
John Freeman, Newly Appointed CEO

John is an experienced leader with more than two and half decades in the data center and TMT industry, leading global teams across Asia, the Americas, Europe and MEA. He is a founding executive of Digital Edge, serving on the company’s Board since its inception, and was previously Chief Legal & Compliance Officer before becoming Group President in 2024.

The Board’s two new non-executive directors, Maile Kaiser and Eanna Murphy, also have long-standing data center expertise. Maile is currently Chief Revenue Officer at CoreSite, having joined in 2012, and previously held roles at IO Data Centers, AboveNet, and Oracle. Eanna is a Senior Operating Partner at Stonepeak and was previously Chief Operating Officer of Yondr, where he founded Yondr’s platform in the Americas region, and previously spent more than ten years in senior roles on Google’s data center team. Their addition, paired with John’s appointment to CEO, further reinforces Digital Edge’s commitment to excellence in leadership and innovation, positioning the company for continued growth in the rapidly evolving digital infrastructure landscape.

Commenting on his appointment, John said, “I am honored to step into the role of CEO, and excited about the opportunity to continue working alongside our partners and the incredibly talented team at Digital Edge to provide timely and diverse AI- and cloud-ready data centers and connectivity solutions to our customers.”

Samuel Lee stated, “As I transition to the role of Senior Advisor, I do so with immense pride in what we have built and with great confidence in the future of Digital Edge. I am sincerely grateful for the support of our employees, customers, and partners throughout my tenure at Digital Edge. John is a visionary leader with a passion for the team, our customers, and the communities we serve, and I look forward to the company’s continued success under his leadership”.

Andrew Thomas, Senior Managing Director at Stonepeak and Chairman of the Board of Digital Edge, commented, “We are very thankful for Samuel’s stewardship over the past five years as the business has scaled, and are excited for John to lead the business into its next phase of growth. We are also thrilled to welcome Maile and Eanna to the Board, each of whom brings world-class industry expertise to the business as we continue to expand.”

Digital Edge recently secured more than $1.6 billion in new capital through a combination of equity and debt financing to fuel its next phase of growth. The growth capital will enable the company to accelerate its expansion and address the increasing and nuanced cloud and AI demands from customers across the region. Founded in early 2020, Digital Edge currently owns and operates 21 data centers, delivering over 500MW of critical IT load in service and under construction across Japan, Korea, India, Malaysia, Indonesia, and the Philippines. The company also holds an additional 300MW reserved for future development in strategic locations.

About Digital Edge

Headquartered in Singapore, Digital Edge is a trusted and forward-looking data center platform company, established to transform digital infrastructure in Asia. Through building and operating state-of-the-art, energy-efficient data centers rich with connectivity options, Digital Edge aims to bring new colocation and interconnect options to the Asian market, making infrastructure deployment in the region easy, efficient and economical.

Backed by leading alternative investment firm Stonepeak, Digital Edge has established itself as a market-leading pan-Asia data center platform. The company provides data center and fiber services across Asia, with a presence in Japan, Korea, India, Malaysia, Indonesia and the Philippines. You can visit the company’s website at www.digitaledgedc.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $72 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

Wondershare Filmora Launches AI-Powered Music Challenge, Featured Prominently on Google Play’s Homepage

VANCOUVER, BC, Feb. 24, 2025 /PRNewswire/ — Wondershare Filmora, the leading video creativity software, has launched the “Can You Feel the Beat?” music challenge on its mobile app. With a diverse library of music and AI-powered editing tools, Filmora empowers global users to craft unique music-themed videos and share their creativity. Recognizing its innovative approach and strong user engagement, Google Play has selected the challenge for its global editorial recommendations. Starting February 14, Filmora earned a top banner placement on the Google Play homepage, making it one of the must-join creative challenges for users worldwide.

Google Play has selected Wondershare Filmora's
Google Play has selected Wondershare Filmora’s “Can You Feel the Beat?” music challenge for its global editorial recommendations.

Music is a universal language that transcends cultural and linguistic barriers. In response to the growing demand for accessible music and AI-powered video editing tools, Wondershare Filmora provides creators with a comprehensive library of licensed music and innovative editing features, including AI Beats and AI Music Generator. Participants can join the challenge by creating a 15s+ music-themed video using Filmora and sharing it on social media. By seamlessly combining cutting-edge AI technology with high-quality music resources, Filmora enhances the music video creation experience for users worldwide.

Google Play is a digital distribution service developed by Google, offering apps, videos, music, e-books, and other digital products. As of August 2024, it hosts over 2.3 million applications, maintaining its position as the largest app store globally. Filmora’s selection as a featured app on the Google Play homepage highlights its growing influence in the creative software landscape. Moving forward, Filmora remains committed to advancing AI-powered video creation tools and launching more engaging creative initiatives to inspire and empower users worldwide.

“We are honored to have Filmora featured on Google Play’s homepage. This recognition reinforces our belief that creative expression should be accessible to everyone, and it motivates us to keep pushing the boundaries of what’s possible with video editing,” said Envy, head of Brand Communication Center at Wondershare. “Through new feature and collaborations, we aim to provide tools that not only enhance creative workflows but also inspire users to discover new ways of storytelling through video.”

About Wondershare Filmora

Launched in 2015, Wondershare Filmora is designed with its user in mind, featuring smoother performance and an intuitive user interface, and has attracted a cumulative global user base of nearly 300 million across 150+ countries and regions.With advanced AI features boosting content generation and editing, over 2.3 million creative assets, commercially available music, 3D LUTs, effects, and pre-set templates, Filmora stands out as a leader in video editing software. Consistently introducing innovative tools, it enhances video creation and makes the process more efficient and accessible for all skill levels.

About Wondershare Technology

Wondershare is a globally recognized software company founded in 2003, known for its innovative solutions in creativity and productivity. Driven by the mission “Creativity Simplified”, Wondershare offers a range of tools, including Filmora, Virbo, and DemoCreator for video editing; PDFelement for document management; EdrawMax, EdrawMind for diagramming; and SelfyzAI, Pixpic, FaceHub for image recovery and editing. With over 1.5 billion users across 200+ countries and regions, Wondershare empowers the next generation of creators with intuitive software and trendy creative resources, continually expanding the possibilities of creativity worldwide.

Fangzhou Inc. Announces Inclusion as a Constituent of the Hang Seng Composite Index

HONG KONG, Feb. 24, 2025 /PRNewswire/ — Fangzhou Inc. (“Fangzhou” or the “Company”) (06086.HK), a leader in Internet healthcare solutions, announced today that the Company has been selected and will be included as a constituent of the Hang Seng Composite Index by Hang Seng Indexes Company Limited, with effect from March 10, 2025.

The Company is of the view that inclusion as a constituent of the Hang Seng Composite Index has the potential to elevate its profile among a broader spectrum of investors and enhance the Company’s recognition in the capital markets, while creating opportunities for customers, partners, and investors to engage with the Company’s innovative Internet healthcare solutions. For further details, please refer to the relevant index notice(s) published on the website of Hang Seng Indexes Company Limited (https://www.hsi.com.hk).

About the Hang Seng Composite Index
The Hang Seng Composite Index is a comprehensive Hong Kong market benchmark that covers about the top 95th percentile of the total market capitalization of companies listed on the Main Board of The Stock Exchange of Hong Kong Limited and can be used as a basis for index funds, mutual funds as well as performance benchmarks.

About Fangzhou Inc.
Fangzhou Inc. (06086.HK) is China’s leading online chronic disease management platform. With 45.6 million registered users and 217,000 registered doctors on its platform (as of June 30, 2024), the Company provides tailored medical care and precision medicine for a growing population of chronic disease patients. For more details, visit https://investors.jianke.com.

Media Contact
For inquiries or interview requests, please contact:
Xingwei Zhao
Associate Director of Public Relations
Email: pr@jianke.com

Disclaimer: This press release contains forward-looking statements. Actual results may differ materially from those anticipated due to various factors. Readers are cautioned not to place undue reliance on these statements

DBS NAMED WORLD’S BEST BANK FOR SUSTAINABLE FINANCE BY GLOBAL FINANCE

Recognised for leadership in sustainable finance, including innovative solutions that accelerate Asia’s transition agenda, drive cross-border impact, and empower corporates and SMEs

***

SINGAPORE, Feb. 24, 2025 /PRNewswire/ — DBS today announced that it has been named World’s Best Bank for Sustainable Finance by New York-based trade publication Global Finance. This is the first time the bank has received the global accolade, while retaining the title Best Bank for Sustainable Finance in Asia-Pacific for the second consecutive year. It was also named Best Bank for ESG-Related Loans and Best Bank for Transition/ Sustainability Linked Loans in the Asia-Pacific region. These wins underline DBS’ support of Asia’s transition to a more sustainable future not just through the mobilisation of traditional sources of capital but also via innovative financing solutions and public-private partnerships. It also recognises DBS’ role in supporting small and medium-sized enterprises (SMEs) in their sustainability journeys.

Now in its fifth year, the awards programme honours organisations demonstrating exemplary leadership in financing solutions that tackle environmental challenges and drive sustainability efforts worldwide.

Joseph Giarraputo, President and Editorial Director at Global Finance said: “Global Finance’s selection for best bank for sustainable finance globally has embedded environmental and social considerations into the fabric of their business. Singapore’s DBS is leading the way in financing Asia’s journey to net zero and has been instrumental in transition and sustainability-linked loans across the energy, industrials, transportation and real estate sectors across Asia-Pacific in 2024. The bank’s sustainable finance framework helps provide clear guidance for their clients’ decarbonisation and transition strategies.”

As an Asia-centric bank, DBS views enabling the region’s transition to net-zero as both a business and social imperative. In 2024, the bank led several innovative transactions across various markets in the region, as follows

  • Pioneered novel financing structures that blend public and private capital to de-risk sustainability projects and mobilise investment at scale. One example is the Karian Water Services project in Indonesia, a USD 286 million blended finance initiative to develop a freshwater supply system to serve two million people in Jakarta, Tangerang and South Tangerang. DBS was the sole financial adviser to Karian Water Services, playing a role in aligning diverse stakeholders – governments, multilateral agencies and private sector players. The project marked the first time a mix of public- and private-sector funds has been used in Indonesia’s water sector.
  • Facilitated access to sustainable capital across the region. DBS was the first Southeast Asian bank to leverage the People’s Bank of China’s (PBOC) Carbon Emission Reduction Facility, securing funding to issue a green loan to a key Chinese renewable energy player. DBS was also the only Singapore bank to be selected by PBOC for the landmark programme, which helps to subsidise China’s transition efforts.
  • Supported SMEs and mid-caps in transitioning to greener operations, recognising that these companies form the backbone of Asia’s economy. In November 2024, DBS announced it had extended a green loan to a Singapore-based SME to build Singapore’s first circular biomass power plant, through a bespoke project financing structure. Green electricity generated by the plant is used to power part of Google’s data centre operations in Singapore. The project contributes to Singapore’s circular economy and also demonstrates how DBS is helping smaller enterprises access green financing and play a role in the region’s energy transition.

Tan Su Shan, Deputy CEO of DBS said: “Climate change is one of the great challenges of our time that demands bold and collective action to solve. As a purpose-driven bank, DBS is committed to enabling a just transition in Asia, by providing essential financing for decarbonisation activities that balance the social, environmental and economic priorities of the region. Our approach must be pragmatic and impactful. We leverage our regional network, industry knowledge, sustainability advisory and expertise in structuring to deliver innovative financing solutions to businesses of all sizes. Being recognised as the World’s Best Bank for Sustainable Finance by Global Finance is a tremendous honour and reinforces our resolve to drive positive change in the communities we serve.”

[End]

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia award by Global Finance for 16 consecutive years from 2009 to 2024.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com

 

Huangshan emerges as top destination for overseas tourists exploring China

BEIJING, Feb. 24, 2025 /PRNewswire/ — A news report from chinadaily.com.cn:

The Guest-Greeting Pine in Mount Huangshan. [Photo/Mount Huangshan Scenic Area]
The Guest-Greeting Pine in Mount Huangshan. [Photo/Mount Huangshan Scenic Area]

Huangshan city, in East China’s Anhui province, with beautiful scenery, rich cultural heritages and friendly international services, stands out as the preferred destination for overseas tourists to explore China following the implementation of the 240-hour visa-free transit policy.

Huangshan is rich in cultural and tourism resources, with 56 tourist attractions at national grade A and above, and is home to two UNESCO World Heritage sites, “Mount Huangshan and Hongcun and Xidi villages”.

Huizhou Fish Lantern, as a provincial intangible cultural heritage item, was largely promoted by the Ministry of Culture and Tourism during the recent Spring Festival holiday, driving tourism orders in Shexian county to surge by 458 percent year on year.

Huangshan boasts convenient transportation, being one of the five major high-speed rail hub cities in the Yangtze River Delta, with an average of 250 trains running daily. Huangshan Tunxi International Airport has 25 operating routes, including five international routes, serving 28 cities.

In December 2024, Tunxi airport was newly designated as a 240-hour visa-free transit port, benefiting tourists from 54 countries.

In April 2024, in collaboration with Chinese technology company Ant Group, Mount Huangshan Scenic Area launched the first international visitor friendly scenic spot program. The scenic area has achieved payment convenience throughout the entire chain, from ticket booking to hotel accommodation, dining, and shopping, greatly enhancing the satisfaction of international tourists.

Across the city, 60 foreign exchange points and 302 foreign card ATMs are scattered in core scenic areas, with Tunxi Old Street becoming the first overseas payment service business area in Anhui. As a mainstream mobile payment method operated by Ant Group, Alipay’s scan-to-pay service covers major dining, accommodation, transportation, shopping, and entertainment scenes, providing international tourists with an extremely convenient payment experience.

“With just a mobile phone, you can pay, guide, translate, and more. It’s so convenient!” said Ahmed Jabar, a young man from Iraq. “After experiencing using Alipay for shopping and payments, I recommend more friends come to Huangshan to experience the beauty of China.”