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AQX announces acquisition of 100% stake in Singapore Enterprise Fibre Operator SPTel

SINGAPORE, July 17, 2025 /PRNewswire/ — Seraya AQX Pte Ltd (“AQX”), a digital infrastructure investment platform wholly owned by Seraya Partners, has entered into a definitive agreement to acquire 100% of SPTel Pte Ltd (“SPTel”) from Singapore Technologies Engineering Ltd’s (“ST Engineering”) wholly-owned subsidiary, ST Engineering Urban Solutions Ltd., and Singapore Power Limited (“SP”) for an enterprise value of SGD290 million (c. USD227 million).

SPTel is a mission-critical, physically independent fibre network operator in one of Asia’s most advanced digital economies. Its nationwide network offers diversity and resilience over the existing telecommunications infrastructure. This architecture enables SPTel to deliver ultra-reliable, low-latency connectivity to corporate, government, telecom, and data centre clients across Singapore. SPTel also provides direct and diverse cross-border fibre routes into neighbouring data centre hubs in Malaysia and Indonesia, positioning it as a natural backbone for the emerging SG+ digital corridor.

The acquisition of SPTel represents a rare opportunity to scale a strategic digital infrastructure platform in a high-barrier market. As SPTel remains in the early stages of its P&L growth, the business has significant potential to achieve two to three times growth over the coming years, particularly as demand from the emerging AI and quantum security sectors accelerates. In addition to strong organic growth from its enterprise customer base, the Singapore–Johor corridor is rapidly emerging as a major APAC data centre hub, with a projected combined capacity exceeding 3 GW. SPTel’s physically independent fibre network is expected to play a critical role in enabling intra- and cross-border data traffic within this ecosystem.

Together with Singapore’s position as a leading digital economy and regional gateway, the acquisition positions AQX and SPTel to capture long-term, value-accretive growth opportunities across Asia’s digital infrastructure landscape.

AQX invests in scalable digital infrastructure assets in Asia Pacific developed markets such as Singapore, Japan, Korea, and Australia. It focuses on hard to replicate assets that are defensible, and aligned with secular growth themes such as enterprise digitization, AI, and data center proliferation.

The acquisition of SPTel by AQX aligns with Seraya Partners’ strategy of investing in scarce infrastructure platforms with long-term value creation potential, and we would like to thank ST Engineering and SP for entrusting us with this opportunity to support SPTel in the next chapter of its exciting growth journey,” said James Chern, CIO and Managing Partner of Seraya Partners.

Through this acquisition, AQX aims to expand SPTel’s operations and network, with the vision of transforming SPTel into the leading provider of advanced enterprise and data centre fibre connectivity solutions for the SG+ region. AQX is also committed to supporting SPTel’s continued innovation in next-generation value-added services, including the development of Singapore’s first nationwide quantum-safe network. SPTel will maintain its service commitments and capabilities to ST Engineering and SP.

AQX is delighted to partner with SPTel’s visionary CEO, Titus Yong, and his experienced leadership team. Together, we look forward to growing SPTel into a premier provider of fibre connectivity solutions for Singapore, while also addressing mission-critical connectivity demands of the SG+ AI corridors into Johor and Batam,” added Matthias Vukovich, CEO of AQX.

The proposed transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including regulatory approvals from the Infocomm Media Development Authority of Singapore.

Redpeak Advisors acted as the exclusive financial advisor to AQX in this transaction.

Unlocking New Opportunities in Asia and the Greater Bay Area

SHANGHAI, July 17, 2025 /PRNewswire/ — CPHI & PMEC China 2025 concluded in June with a record-breaking 109,056 attendees, fostering meaningful connections across the entire pharmaceutical supply chain. This remarkable success is a testament to the strong demand within China’s thriving pharma industry. 

Building on this momentum, CPHI & PMEC Shenzhen 2025 will take place from 1-3 September 2025 at Shenzhen Exhibition & Convention Center (SZCEC), addressing the growing demand for access to South China’s key pharma markets.

As a key gateway to the Guangdong-Hong Kong-Macau Greater Bay Area, Shenzhen is uniquely positioned to drive the future of pharma innovation. The region’s health industry GDP is projected to surpass 2 trillion CNY by 2028 and reach 2.5 trillion to 3 trillion CNY by 2030, offering unparalleled opportunities for growth and collaboration in the pharmaceutical sector.

CPHI & PMEC Shenzhen is set to achieve remarkable growth in 2025, doubling its size to 30,000 sqm of show floor and featuring over 600 selected exhibiting companies from various sectors of the pharmaceutical industry, including pharma ingredients, excipients, biotech, contract services, pharma machinery, packaging machinery, packaging materials and more. The event will further expand its scope with increased exhibitor participation across key product zones such as natural supply, finished dosage, clean technology, and laboratory instruments. A new and exciting addition to this year’s event is the ‘beauty & cosmetics supply chain zone’, which will showcase cutting-edge advancements and foster collaboration in this rapidly growing sector. These specialised zones will highlight flagship products and spark fresh innovation, empowering attendees to explore new opportunities and unlock growth horizons across Asia’s pharma markets.

During the exhibition, over 20 high-level forums will bring together regulatory authorities, academic experts, and corporate leaders to deliver in depth analysis of policy shifts, technological breakthroughs, and emerging market dynamics. These sessions will address critical topics such as new drug R&D, API process optimisation, CXO collaborations, emerging markets strategy, nutrition and health food development, natural ingredients and functional food development, injectable medical aesthetics innovation, pharma packaging solutions, pharma manufacturing 4.0, pharmaceutical engineering and etc., offering actionable insights to senior decision-makers and R&D teams.

To further forge strategic partnerships and connections with key decision-makers, industry experts and potential collaborators, exclusive Hosted Buyer Matchmaking and Plant Visit will be organised. These will facilitate meaningful interactions between local suppliers and international buyers with specific purchasing demand, further establishing deep connections and driving business growth and success.

With its strategic location and curated focus, CPHI & PMEC Shenzhen 2025 is set to redefine pharma innovation in South China. The event offers unparalleled opportunities for networking, knowledge exchange, and collaboration, empowering attendees to unlock new growth horizons across Asia’s thriving pharmaceutical sector.

Register as a visitor before 1 August to enjoy complimentary VIP benefits:
https://reg.cphi-china.cn/en/express-ticketing/shenzhenvip

For more information, please visit:
https://www.cphi.com/china/en-gb/home.html 

Embed Financial Group Holdings (EFGH) is pleased to announce a pivotal addition to the EFGH leadership team

SINGAPORE, July 17, 2025 /PRNewswire/ — Embed Financial Group Holdings (EFGH) welcomes Eldwin Wong as its new Chief Executive Officer, Asia.

Eldwin Wong - Chief Executive Officer (Asia) of EFGH
Eldwin Wong – Chief Executive Officer (Asia) of EFGH

Eldwin is a seasoned leader in the financial technology sector. As the founder and CEO of IN Financial Technologies (INFT), he successfully built a leading fintech group in Singapore, providing essential financial services and securing key regulatory licenses from the Monetary Authority of Singapore (MAS). His extensive experience in scaling tech-driven businesses and his deep understanding of the financial landscape in Asia will be invaluable as we continue to expand our embedded finance solutions.

Beyond his business acumen, Eldwin’s commitment to public service—for which he was awarded the Pingat Bakti Masyarakat (PBM)—resonates deeply with EFGH’s mission to drive financial inclusion and create lasting value for communities across the region.

Please join EFGH in giving Eldwin a warm welcome. EFGH is confident that his leadership will be instrumental in accelerating its growth and strengthening its partnerships throughout Asia.

Find out more about Embed Financial Group Holdings at https://efgh.xyz

HSG Showcases Smart Manufacturing Power at MF-TOKYO 2025, Led by Akihiko Sugiyama

TOKYO, July 17, 2025 /PRNewswire/ — At MF-TOKYO 2025, HSG Laser made a strong impression with its latest intelligent manufacturing technologies. During the show, Taking center stage were two key solutions: the TP65S high-speed tube cutting machine and the HL1500GW collaborative laser welding system. Both systems demonstrated HSG’s deep commitment to innovation, flexibility, and real-world manufacturing performance.

The TP65S system stood out with its adaptive clamping technology, supporting a wide range of tube profiles—including round, square, angle, and special shapes—alongside an HSG-developed 3D five-axis cutting head for precise, efficient complex processing. The HL1500GW, seamlessly integrated with a collaborative robot, enabled safe, space-saving, and high-quality welding, ideal for modern production lines.

A live streaming event on Day 1 attracted considerable attention, showcasing real-time demonstrations and expert walkthroughs. The presence of a localized technical team further emphasized HSG’s readiness to support Japanese manufacturers with fast service and tailored solutions.

Leading the presentation was Mr. Akihiko Sugiyama, Vice President of HSG Japan. With over 40 years in laser processing, Sugiyama is recognized as one of Japan’s early pioneers in laser R&D. His work has spanned optical system design, gas flow dynamics, and laser-material interaction. He holds more than 20 international patents and has received honors such as the Japan Precision Engineering Award, solidifying his status as a global authority in the field.

As the home of HSG’s Global R&D Center established in 2020 and Processing Center in 2024, Japan plays a pivotal role in driving the company’s technological breakthroughs. In collaboration with Chiba University and industry specialists, the center focuses on advancing laser optics through academic partnerships and next-generation lab facilities—accelerating the transfer of research into real-world equipment applications. With the combined strength of global innovation and local expertise, HSG Laser is expected to set a new benchmark for intelligent metal processing in Japan and across the world.

Xinhua Silk Road: Ancient ethnic Chinese legacy revealing cultural fusion inscribed as UNESCO World Heritage

BEIJING, July 17, 2025 /PRNewswire/ — The Xixia Imperial Tombs were inscribed on the World Heritage List on July 11 during the 47th session of the UNESCO World Heritage Committee in Paris, France. This marks China’s 60th World Heritage site.

A drone photo taken on July 10, 2025 shows two Xixia imperial tombs in northwest China's Ningxia Hui Autonomous Region. (By Wang Peng)
A drone photo taken on July 10, 2025 shows two Xixia imperial tombs in northwest China’s Ningxia Hui Autonomous Region. (By Wang Peng)

Located at the foot of Helan Mountain in Yinchuan, northwest China’s Ningxia Hui Autonomous Region, the Xixia Imperial Tombs represent the largest, highest-ranking, and best-preserved archaeological remains of the Xixia Dynasty (1038-1227). 

The heritage area encompasses nine imperial mausoleums, 271 subordinate tombs, one architectural complex at the northern end, and 32 flood control facilities.

Through nearly half a century of excavation, over 7,100 exquisite artifacts have been unearthed, including a gilded bronze ox and a glazed Chiwen. These findings vividly showcase the features of Xixia civilization.

The UNESCO World Heritage Committee recognized the Xixia Imperial Tombs as an outstanding testament to multicultural fusion. 

Their spatial layout, design philosophy, and architectural forms inherited the Tang (618-907) and Song (960-1279) dynasties’ imperial mausoleum systems while integrating Buddhist beliefs and ancient local ethnic customs. This created unique funerary traditions and demonstrated the dynasty’s significant role in cultural and commercial exchanges along the Silk Road during the 11th to 13th centuries.

The Chinese government’s tremendous efforts and outstanding achievements in protecting the cultural heritage of the Xixia Imperial Tombs were highly commended by the Committee.

Since being designated as a National Key Cultural Relics Protection Unit in 1988, the site has established comprehensive laws, regulations, and a management system.

Particularly since 2000, in collaboration with professional institutions, 60 major reinforcement projects have been successfully implemented on the tombs themselves. These have essentially eliminated instability risks and surface erosion issues affecting the imperial mausoleums and main subordinate tombs. 

Furthermore, the removal of approximately 100,000 square meters of buildings and modern facilities within the heritage zone, combined with the establishment of a comprehensive monitoring and early-warning platform, has effectively ensured the site’s authenticity, integrity, and preservation environment.

International scholars point out that the Xixia Imperial Tombs serve as crucial physical evidence for studying ancient ethnic relations, architectural arts, and funerary traditions in China. Their successful inscription enriches the diversity of global cultural heritage.

Original link: https://en.imsilkroad.com/p/346640.html

National Palace Museum Centennial: DOUBLE SHOTS Reimagines Tradition for New Generations

TAIPEI, July 17, 2025 /PRNewswire/ — Taiwan’s National Palace Museum is celebrating its 100th anniversary by embarking on a creative partnership with DOUBLE SHOTS, a production studio known for its cinematic storytelling. Drawing on the studio’s modern approach to heritage, the collaboration aims to make the institution’s cultural treasures relatable to contemporary audiences and engage various generations in the centennial celebration.

Debuted on June 19, the first video by DOUBLE SHOTS in the year-long collaboration can be viewed here: https://youtu.be/u3zCAH7bFFY

For the National Palace Museum’s centennial, DOUBLE SHOTS created a film that reimagines how ancient artifacts relate to modern lived experiences.
For the National Palace Museum’s centennial, DOUBLE SHOTS created a film that reimagines how ancient artifacts relate to modern lived experiences.

Founded in 1925, the National Palace Museum is home to one of the world’s largest and most important collections of Chinese art and historical artifacts—nearly 700,000 pieces spanning thousands of years. This year marks the 100-year anniversary of its founding and the 10-year anniversary of its Southern Branch.

Hsiao Tsung-huang, Present Director of the National Palace Museum, commented: “Through the collections of the National Palace Museum, this film serves as an infinite reminder of the inextricable connection between the Museum and people.”

With this centennial project, DOUBLE SHOTS has strived to translate cultural richness into visual language that resonates with today’s audiences. Through evocative movement, carefully curated color palettes, and richly layered textures, the video captures the lived emotions and ephemeral gestures of heritage, echoing the delicate brushstrokes of Chinese calligraphy and the flowing patterns of traditional fabric.

Kyle Xu, Director, DOUBLE SHOTS, commented: “Our storytelling approach in this video invites viewers to not just observe the past, but to feel it. To accomplish this, we carefully selected certain visual techniques to bring out key characteristics of the artifacts — from the unique craftsmanship to the creative spirit — and then solidify the connection to modern life.”

Otto Chen, winner of Best Art Design at the 24th Taipei Film Awards and the art director of the film, noted: “Aiming to reinforce the role institutions like the National Palace Museum play in today’s world, we emphasized the connections between the ideas contained in cultural relics and the ideas prominent in modern life — how art and life are inseparable.”

Henry Tao, Director & Co-Founder, DOUBLE SHOTS, remarked: “The ‘revolt’ spirit of Double Shots spurs us to create not only visually cinematic but also emotionally captivating stories. As the cinematographer of this project, I focused on using light, textures, and movement to evoke a sense of resonance in today’s viewers, inviting people to experience history through a modern lens.”

The project engaged multiple departments within DOUBLE SHOTS, including its studio, cinematography, and VFX teams.

DOUBLE SHOTS is driven by its signature ‘uprising’ ethos that emphasizes redefining the way stories are told through unexpected imagery, subtle emotional layering, and cinematic precision. Whether working with art auction houses, tech companies, or AI labs, their process always begins with the same question: how can we move people?  As creatives, the team also leverages AI to enrich visual textures while keeping human emotion at the core.

For institutions or brands interested in cultural storytelling collaborations, please contact studio@doubleshotsmedia.com or visit https://www.doubleshots.com.

About DOUBLE SHOTS

DOUBLE SHOTS is a creative studio specializing in cinematic storytelling, cultural campaigns, and visual identity work. Their client base spans art institutions, government bodies, educational organizations, and tech companies. With a full-service production house, in-house VFX, and a visual-first philosophy, DOUBLE SHOTS redefines how culture is seen and felt.

JAR Wealth Management Pte. Ltd., the Singapore arm of JAR Capital, Accelerates Expansion into High-Growth Asian Markets with Strategic Acquisition of Lyra Capital Pte. Ltd.

The deal boosts JAR Capital’s aspirations as one of Singapore’s top-tier external asset managers, surpassing USD 1 billion in AUM in the city-state.

SINGAPORE, July 17, 2025 /PRNewswire/ — JAR Capital, a Swiss-headquartered global wealth and fund management firm, today announced that it has signed a definitive agreement to acquire Lyra Capital Pte. Ltd., a leading Singapore-based Multi-Family Office. The acquisition reflects JAR Capital’s commitment to long-term growth in Singapore and Asia.

The transaction will see JAR Capital’s assets under management (AUM) exceedUSD 1 billion in Singapore alone, solidifying its ambitions to be among the top echelon of EAMs in Singapore. The combined team will operate from JAR Capital’s newly expanded offices at One George Street, with the headcount more than doubling to 18 staff.

Structured as a cash-and-stock transaction, the deal is expected to complete by end of July 2025. The founders of Lyra Capital will become shareholders and directors of JAR Wealth Management Pte.Ltd, acting as board members and clients advisors to ensure continuity in post-deal integration.

Tim Walter, CEO of JAR Wealth Management Pte. Ltd., said, “This acquisition is a defining milestone in our growth journey. In less than three years since launching in Singapore, JAR Capital has grown from a standing start to managing over a billion dollars in assets. With this transaction, we are not only expanding our client base in Asia with a strong focus on Japan led by Akihiro Nemoto, but also enhancing the investment platform and services available to our clients developed by our CIO Karol Bonati since the opening of our Singapore office in 2022.”

Charles Monney, CEO of Lyra Capital, said “Great success is achieved through meaningful encounters. Nothing is so true for the journey of Lyra Capital.  From our first clients who believed in our core values and the team built over the past 20 years, we can only be so proud and thrilled by the continuity of this work at JAR Wealth Management. The combined intelligence and resources derived from this acquisition will accelerate the implementation of a controlled growth strategy across Asia. I sincerely look forward for this next chapter to be written together.”

Complementary Strengths Drive Integration Synergy and New Growth Horizons

Established in 2007, Lyra Capital is one of Singapore’s pioneers in the EAM space and is well-regarded for its deep roots in the Asian high-net-worth community. Its strong relationships in Asia will complement JAR Capital’s existing global client base and accelerate market penetration across Japan under the leadership of Akihiro Nemoto, Thailand, Indonesia, Australia, and beyond.

The deal also brings clear operational and investment synergies. JAR Capital offers a sophisticated investment platform – including a global investment committee spanning Geneva, Dubai, and Singapore – featuring in-house Fund strategies and curated third-party fund access.

Beyond wealth management, JAR Capital has built robust fund management capabilities under Singapore’s Variable Capital Company (VCC) regime. Over the past two and a half years, the firm has launched several VCC structures, building its Funds team along the way, and in collaboration with regional asset managers. This expertise is expected to benefit clients of the acquired firm, who have not previously had access to such offerings.

“The integration is about scale, but more importantly, it’s about synergy and common values. We are bringing together two firms with complementary clients, cultures, and capabilities. Together, we’re better equipped to serve the evolving needs of high-net-worth individuals in Asia and globally,” added Mr. Walter.

Gerald de Senger, Chairman of JAR Capital Group, concluded: “By strengthening our established presence in Singapore, a world-class financial hub, this acquisition reflects our ambition to be a reference player and our long-term commitment to servicing clients globally. It represents a natural and strategic progression, made possible by the strong cultural alignment, shared values, and complementary strengths of both firms as we shape up the next chapter of our presence in Asia.”

About JAR Capital

Founded in Switzerland and operating globally, JAR Capital is an independent wealth and fund management firm serving high-net-worth individuals and institutional investors. The firm’s investment committee spans Geneva, Dubai, and Singapore, delivering strategic wealth management, bespoke investment solutions, and institutional-grade fund access.

This press release contains forward-looking statements, which may include projections, estimates, or other statements about future events or expectations. These statements are based on current assumptions and beliefs as well as information currently available. Such forward-looking statements involve risks, uncertainties, and other factors that could cause actual results or outcomes to differ materially from those expressed or implied.

Coda Accelerates Global Expansion with Acquisition of European Payments Platform Recharge

  • Singapore headquartered Coda acquires Recharge, Europe’s leading prepaid payments platform, expanding global reach and deepening direct-to-consumer capabilities.
  • Built on strong partnerships with publishers like Electronic Arts, Activision, and Riot Games, the acquisition accelerates Coda’s move into new categories and consumer segments.
  • Combined business processed over US$1.75B in 2024, reaching 200M+ users across 180+ markets.

SINGAPORE and AMSTERDAM, July 17, 2025 /PRNewswire/ — Coda, a global leader in digital content monetization headquartered in Singapore, today announced it has signed a definitive agreement to acquire Recharge, Europe’s leading prepaid payments platform, headquartered in Amsterdam. The transaction brings together two profitable regional leaders with scaled businesses, complementary strengths and a shared ambition to lead the future of global digital distribution and monetization.

The acquisition accelerates Coda’s expansion beyond gaming and strengthens its ability to serve the broader digital content economy — across categories, customers, and continents — by extending its presence in Europe and building on its direct-to-consumer capabilities. For Recharge, the deal brings B2B expertise, access to deeper partnerships with top-tier digital content publishers, and a proven playbook for growth in high-growth markets, especially across Asia. Based on 2024 figures, the combined business would have processed more than US$1.75 billion in sales, served over 200 million customers, and operated in upwards of 180 markets — marking a scaled global footprint from day one.

Coda is a trusted monetization partner to the world’s leading mobile gaming and digital content publishers, including Electronic Arts, Activision, Riot Games, HoYoverse, and Moonton. Coda distributes more than 500 titles from over 300 publisher partners and powers webstores for flagship franchises such as Call of Duty®: Mobile and EA SPORTS FC™ Mobile. With a network of over 400 local payment channels, Coda offers consumers better value and more choice. For publishers, Coda simplifies global growth —managing risk, compliance, and customer support as Merchant of Record.

Recharge — a European leader in prepaid digital storefronts like Recharge.com and Startselect.com — strengthens Coda’s B2C scale and reach across Europe. With over 16,000 products spanning gaming, mobile, gift cards, and lifestyle, Recharge combines a marketing-led, consumer-first approach with established brand equity and a user base of more than 8 million. Trusted by over 1,000 global brands — including Apple, Google, Vodafone, and PlayStation — Recharge brings retail strength, relevance, and regional depth.

“We’ve long admired what the Recharge team has built — a profitable, consumer-focused business with top global brands and real depth across Europe,” said Shane Happach, CEO of Coda.

“This transaction brings together two regional commerce leaders with distinct but highly complementary strengths. At Coda, we’ve focused on scaling our B2B capabilities alongside, working with the world’s leading digital publishers to maximize their revenue — particularly in high-growth, complex markets across Southeast Asia. Recharge adds a powerful direct-to-consumer engine, deep prepaid expertise, and strong brand equity across Europe. Most importantly, we’re bringing together two teams that share the same values: ambition, collaboration, and commercial sharpness. That gives us a strong foundation to lead the next chapter in global digital content distribution and monetization.”

“At Recharge, we’ve focused on building the technology platform that connects and scales the prepaid payments ecosystem — enabling seamless transactions between users, products, and brands through smart, data-driven infrastructure,” said Günther Vogelpoel, CEO of Recharge. “That focus, combined with a passionate team that consistently executes with precision, and pace, has allowed us to scale a profitable and trusted business across Europe and beyond.”

“Joining forces with Coda gives us the opportunity to take everything we’ve built — from our platform to our partnerships — and extend it globally to truly become the global leader we set out to be. With complementary strengths and a shared DNA, this unique combination sets us up to create even more value for the brands, publishers, and customers we serve.”

From premium content to prepaid products, this transaction brings together payments expertise, publisher and brand partnerships, and broad consumer reach — opening up real opportunities for cross-sell and deeper market access. With complementary capabilities, wider global coverage, and an expanded catalogue, Coda and Recharge are better positioned to collectively serve the full digital content economy across both B2B and B2C. Together, the combined company will deliver improved value and convenience to partners and consumers worldwide through secure, trusted, and locally relevant monetization and distribution solutions.

The transaction is backed by Apis Partners, Insight Partners, Smash Capital alongside Coda’s other investors.

Images
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