Motorbike riders line up to refuel at a petrol station in Vientiane in March 2026 as fuel prices surge amid the global oil crisis. LSFC Sengsawang Patrol Station. (Photo: The Laotian Times)
Russia is weighing its first-ever delivery of petroleum products to Laos, Russian Deputy Prime Minister Alexander Novak announced Saturday, 9 May.
According to the Russian media, Russia is currently evaluating the logistical possibilities for the initial export. With Laos landlocked and unreachable by sea, Russia would route shipments through Vietnamese ports, the same transit corridor Vietnam opened to Laos earlier this year.
The announcement followed high-level talks at the Kremlin between President Vladimir Putin and Lao President Thongloun Sisoulith on the sidelines of Russia’s Victory Day celebrations, where the two leaders focused on boosting bilateral trade and deepening energy cooperation.
Laos Still Recovering From Devastating Fuel Crisis
Laos has been reeling from one of the worst fuel crises in its recent history, triggered by the Middle East conflict and its knock-on disruptions to global supply chains. The country imports around 97 percent of its refined fuel from Thailand, leaving it acutely exposed when supplies tightened earlier this year.
At the height of the crisis in mid-March, more than 1,000 of Laos’ 2,538 petrol stations had shut, long queues formed across Vientiane, and diesel prices more than doubled. The government slashed fuel excise taxes, deployed mobile fuel services, and instructed ministries to cut consumption through remote working policies.
Vietnam stepped in as an emergency supplier, committing 50 million liters of fuel and agreeing to allow Laos to transit petroleum from third countries through Vietnamese territory, the very corridor Russia is now considering for its planned deliveries.
The urgency of the region’s energy predicament was on full display just days earlier.
At the 48th ASEAN Summit in Cebu, The Philippines, on 7 to 8 May, leaders agreed to activate a regional fuel-sharing mechanism and accelerate the rollout of an ASEAN Power Grid to better interconnect electricity networks across Southeast Asia, a direct response to the vulnerabilities exposed by the Middle East Crisis.
A Major Producer Expanding Its Reach
Russia holds the eighth largest proven oil reserves in the world at approximately 80 billion barrels, yet consistently ranks among the top three global producers and exporters. With Southeast Asian demand surging. Countries including Vietnam, Thailand, the Philippines, Indonesia, and Sri Lanka have all been turning to Russian oil to offset Middle East shortfalls.
HONG KONG SAR – Media OutReach Newswire – 11 May 2026 – BeOne Medicines (BeOne, Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced it has been named “Outstanding Global Oncology Company of the Year” at the HKCT Business Awards 2026. The award recognizes BeOne’s continued progress in research and development (R&D) and manufacturing of innovative cancer therapies, as well as its efforts to support broader patient access to medicines.
(Left) Richard Cheng, Associate Commercial Director (Hong Kong & Macau) at BeOne; (Right) Dr. Bernard Chan, JP, Under Secretary for Commerce and Economic Development
Richard Cheng, Associate Commercial Director (Hong Kong & Macau) at BeOne, said: “We are honored to receive this award from the Hong Kong Commercial Times. BeOne has built differentiated capabilities across clinical development and manufacturing, supported by a broad and diverse R&D pipeline. In Hong Kong, we have introduced several therapies, including BTK, PD-1 and IL-6 inhibitors. Looking ahead, we will continue to advance our plans in Hong Kong by leveraging opportunities enabled by the ‘1+’ policy and the planned establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) and its ‘primary evaluation’ mechanism. Supported by our global supply network, we aim to bring additional medicines to patients in Hong Kong and the Greater Bay Area and help improve access to treatments aligned with international standards.”
Global R&D and Innovation
Founded in 2010, BeOne is focused on accelerating key stages of oncology innovation—from discovery through development to patient access. Through an integrated model spanning R&D, manufacturing and commercialization, the company works to translate innovation into clinical value. Today, BeOne operates across six continents in more than 45 markets and is supported by more than 1,200 oncology R&D professionals.
BeOne’s R&D platform has advanced more than 35 clinical-stage drug candidates, including three internally developed products that have received commercial approval, reaching more than 2 million patients worldwide.
Pipeline Highlights
BeOne continues to expand its global footprint through a portfolio of internally developed products, including:
BTK Inhibitor: As the company’s first self-developed innovative drug, it holds a significant position in the global market (including Hong Kong), particularly in the field of B-cell malignancies.
PD-1 Inhibitor: Launched in more than 50 markets worldwide, reaching 1.8 million people. In Hong Kong, it has been approved for six indications, including immunotherapy for lung, esophageal and gastric cancers.
Next-Generation BCL-2 Inhibitor: Approved for certain lymphoma indications in Mainland China. It has been granted Priority Review by the U.S. Food and Drug Administration, and a marketing application has been submitted in the European Union.
Manufacturing Network Supporting Global Supply
BeOne maintains an integrated chain from R&D to manufacturing and commercialization, supported by production sites in the United States and China designed to help maintain a stable global supply:
New Jersey, U.S.: A North America biologics hub integrating manufacturing and clinical R&D. The site spans 1.82 million square feet, including a dedicated 400,000-square-foot production facility.
Suzhou, China (small molecule manufacturing): Supports clinical and commercial-scale production in accordance with applicable FDA, EMA and GMP requirements.
Guangzhou, China (biologics and ADC manufacturing): A 1.3 million-square-foot facility supporting R&D and production of antibody-drug conjugates (ADCs) and serving as a supply hub for the Greater Bay Area, including Hong Kong.
BeOne has also been recognized by industry organizations for its innovation, including being named one of the “Top 10 Most Inventive” pharmaceutical companies by IDEA Pharma in 2025[1]. The company will continue to advance programs in hematologic malignancies and solid tumors, with Hong Kong serving as a strategic hub to support the delivery of innovative therapies globally.
1. 2025 Pharmaceutical Innovation and Invention Index, IDEA Pharma
This material is intended for the purpose of communicating disease-related knowledge and cutting-edge medical information to the public and is not intended for promotional or advertising purposes. It does not constitute a promotion or recommendation for any medication or treatment plan, nor can it serve as a substitute for the advice of medical and health professionals. If you have any questions, please consult a medical or health professional.
Forward-Looking Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding BeOne’s plans, commitments, aspirations and goals related to BeOne’s medicines and drug candidates. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors which are discussed in the section entitled “Risk Factors” in BeOne’s most recent periodic report filed with the U.S. Securities and Exchange Commission (“SEC”) as well as discussions of potential risks, uncertainties, and other important factors in BeOne’s subsequent filings with the SEC. All information in this presentation is as of the date presented, and BeOne undertakes no duty to update such information unless required by law.For BeOne’s newsroom, please visit www.beonemedicines.com
The issuer is solely responsible for the content of this announcement.
About BeOne Medicines
BeOne Medicines is a global oncology company domiciled in Switzerland, focused on discovering and developing innovative treatments designed to be more affordable and accessible to cancer patients worldwide. With a portfolio spanning hematology and solid tumors, BeOne is advancing a diverse pipeline of novel therapeutics through internal capabilities and collaborations. With a growing global team of nearly 12,000 colleagues spanning six continents, the Company is committed to improving access to medicines for more patients. To learn more about BeOne, please visit www.beonemedicines.com and follow us on LinkedIn, X, Facebook and Instagram.
About HKCT Business Awards 2026
Organized by the Hong Kong Commercial Times, the HKCT Business Awards is a representative annual event in the Hong Kong business community. It honors companies demonstrating excellence, innovation, and significant contributions to Hong Kong’s economy and society across dimensions including technological innovation and market competitiveness.
Report highlights how AI-driven demand, energy constraints, and grid bottlenecks are reshaping infrastructure investment opportunities across Asia
SINGAPORE – Media OutReach Newswire – 11 May 2026 – Seraya Partners, an Asia-based independent private equity fund for next-generation infrastructure investing, released its latest whitepaper, “The High Energy Convergence,” examining how accelerating AI adoption, energy market volatility, and power infrastructure constraints are reshaping the next phase of infrastructure investing across Asia-Pacific.
The report comes amid continued disruptions in global energy markets and persistent oil price volatility, with Asia emerging as one of the regions most exposed to energy security and power supply challenges. As countries diversify energy supply, localize critical infrastructure, and accelerate alternative energy strategies, the report argues that deliverable power is becoming the primary bottleneck for infrastructure growth across the region.
According to the report:
Asia-Pacific data center capacity is projected to grow from approximately 32 GW in 2025 to 57 GW by 2030, with AI workloads expected to drive the majority of incremental demand
Approximately US$2 trillion in energy transition investment may be required by 2030 to support rising digital and electrification demand
Large-scale AI facilities are increasingly requiring approximately 100 MW or more of power capacity, accelerating demand for integrated digital and energy infrastructure solutions
Grid access and interconnection timelines are increasingly determining where infrastructure can be built and scaled across Asia
“As digital infrastructure scales, the constraint is no longer just capacity, but access to deliverable power,” said James Chern. “AI-driven demand and power constraints are converging to reshape Asia’s next infrastructure cycle. This is creating a structural shift toward more integrated digital and energy infrastructure solutions across the region.”
The whitepaper highlights several themes shaping Asia’s infrastructure landscape, including:
The growing importance of grid access, interconnection timelines, and energy security in determining where infrastructure can be developed
The rise of integrated digital-energy infrastructure models, including data centers paired with distributed energy, battery storage, and long-term power solutions
Increasing investment opportunities across connectivity infrastructure, subsea cables, renewable energy integration, and energy efficiency solutions
The growing divergence between markets with sufficient infrastructure readiness and those facing structural constraints around land, power, and permitting
The report also examines how current energy market volatility is already influencing infrastructure deployment, capital allocation, and investment priorities across Asia, particularly in sectors tied to digital infrastructure, connectivity, distributed energy, and energy resilience.
The full report, “The High Energy Convergence,” is now available here. Hashtag: #AsiaInfrastructure #privateequity
The issuer is solely responsible for the content of this announcement.
Seraya Partners
Seraya Partners is the first Asia-based independent private equity fund for next-generation infrastructure investing, headquartered in Singapore. With US$2.5 billion in assets under management (AUM), Seraya Partners targets control-oriented, middle-market platform investments in next-generation infrastructure, focusing on the digital infrastructure and energy transition sectors, primarily within the developed Asia-Pacific region and Southeast Asia. Seraya has offices in Singapore, Kuala Lumpur, Seoul, and Tokyo. www.serayapartners.com
BANGKOK, THAILAND – Media OutReach Newswire – 11 May 2026 – As ultra-luxury living evolves beyond opulence toward a more holistic philosophy of Well-Being Residence, SCOPE redefines the pinnacle of residential excellence with SCOPE Thonglor—a landmark development that sets a new benchmark for all-penthouse living. The project establishes an unprecedented standard that offers uncompromising quality of living.
Triplex Residence
Mr. Yongyutt Chaipromprasith, Chief Executive Officer of SCOPE Company Limited, stated: “SCOPE Thonglor reflects our vision of creating a rare estate that transcends the traditional definition of luxury. We believe that true luxury lies in quality of life—where design, privacy, and well-being are seamlessly integrated to create a living experience through personalisation and a genuine sense of exclusivity.”
At the heart of the development lies the Triplex Residence – The Penthouse of Penthouses, a singular masterpiece conceived to surpass every penthouse in Thailand in design, scale, functionality, and refined living. Spanning three private levels across 765 square meters, the residence embodies a “private mansion in the sky,” offering expansive living spaces, absolute privacy, and panoramic views of Bangkok’s skyline. Designed by Thomas Juul-Hansen, the acclaimed New York-based designer behind some of the world’s most prestigious penthouses, the residence stands as a truly irreplicable asset created for one discerning owner.
The interiors evoke the grandeur of a sky-high mansion, anchored by a spectacular double-volume Great Room with 6.40-meter ceilings that flood the space with natural light and panoramic city views, complemented by an expansive terrace and temperature-controlled outdoor jacuzzi.
The Triplex Residence is part of a 32-storey architectural statement comprising only 18 exclusive penthouses under the concept of One Floor, One Residence. Residences range from 416 to 765 square meters in simplex, duplex, and triplex configurations. Fully furnished with world-class pieces sourced from seven countries and valued at over THB 40 million, residences start from THB 200 million, reinforcing the project’s position at the forefront of Thailand’s ultra-luxury real estate market.
Central to SCOPE Thonglor is its “Well-Being Residence” philosophy, integrating physical, emotional, and social well-being into everyday living through wellness-focused amenities including private onsen and spa facilities, a professional-grade gym, temperature-controlled swimming pool, and advanced air filtration systems.
This philosophy is further articulated through three core dimensions: Physical Well-Being, achieved through meticulous attention to location, design, materials, and systems that promote health and restorative living; Emotional Well-Being, delivered through seamlessly integrated services that alleviate the burdens of daily life; and Social Well-Being, fostered through a curated community of like-minded residents.
Complementing this holistic experience is a suite of bespoke services curated under ACQUA, encompassing housekeeping, concierge, valet, and porter services, daily freshly brewed coffee and matcha, as well as in-house chef and beautician services, ensuring that everyday living is elevated to the standards of a world-class hospitality experience.
Situated in Sukhumvit–Thonglor, one of Bangkok’s most prestigious districts, SCOPE Thonglor combines exceptional privacy with prime urban accessibility. Conceived as “A Rare Estate of Timeless Well-Being,” the development blends exclusivity, tranquility, and enduring value within one of the city’s most sought-after addresses.
In today’s market, few residences in Bangkok rival the scale and architectural ambition of SCOPE Thonglor’s Triplex Residence. More than a residence, it sets a new standard for ultra-luxury living while positioning Thailand as an emerging destination for ultra-high-net-worth individuals worldwide.
Through the seamless convergence of world-class design, an exceptional location, and a well-being philosophy, SCOPE Thonglor stands as a definitive symbol of elevated living—redefining what it means to be the finest penthouse in Thailand. Hashtag: #Scopecollection #ScopeThonglor
TOKYO, May 11, 2026 /PRNewswire/ — PowerX, Inc.(Head Office: Tamano City, Okayama Prefecture; Director, President and CEO: Masahiro Ito; Securities Code: 485A) signed a Memorandum of Understanding (MOU) on May 7th with Elektroprivreda Crne Gore AD Nikšić (EPCG), Montenegro’s national electricity utility, regarding the Strategic Cooperation on Battery Energy Storage Systems (BESS).
The MOU sets an indicative target of approximately 500 MWh of BESS capacity over an initial three-year period to support the large-scale integration of renewable energy and strengthen grid stability in Montenegro.
Montenegro adopted its National Energy and Climate Plan in December 2025, setting 2030 targets that include a minimum 50% share of renewable energy in gross final energy consumption. EPCG, the country’s largest electricity producer, has identified BESS as a key component of its grid modernization and renewable energy integration efforts.
Under the MOU, the parties will collaborate together to identify optimal BESS deployment plans to support grid reliability, peak shaving, and frequency regulation, with comprehensive after-sales support. PowerX will also explore the potential establishment of local BESS assembly capabilities in Montenegro.
Montenegro’s EU candidate status, coupled with its power interconnection with Italy, makes the country a strategically important market for clean energy infrastructure in Europe. PowerX aims to leverage this cooperation as a foundation for expanding its BESS business into the European market.
“Battery energy storage systems are becoming a core part of modern energy infrastructure, enabling greater integration of renewable energy while supporting grid stability, flexibility, and resilience,” said Masahiro Ito, CEO of PowerX. “As Japan’s leading BESS provider, PowerX is pleased to partner with EPCG to support Montenegro’s energy transition and the modernization of its power system. Through this strategic cooperation, we aim not only to deploy advanced battery storage solutions, but also to build a long-term foundation for PowerX’s activities in Montenegro and the wider region, including the development of local battery system assembly capabilities.”
“This partnership represents an important step in the modernization of our power system and further confirms EPCG’s commitment to an energy transition based on innovation and sustainability,” said Zdravko Dragaš, CEO of EPCG. “Cooperation with PowerX gives us access to advanced energy storage technologies, which are essential for the stable integration of renewable energy sources and the long-term energy security of Montenegro.”
About PowerX, Inc. PowerX is a Japanese energy storage company listed on the Tokyo Stock Exchange Growth Market. Headquartered in Tamano City, Okayama Prefecture, with offices and an R&D center in Tokyo, PowerX’s core business spans the development and manufacture of battery energy storage systems (BESS), scalable modular data centers, and battery-buffered EV charging systems, as well as the development and operation of grid-scale battery farms. To date, its BESS has been selected for 153 project sites in Japan, with a cumulative adopted capacity of 2.8 GWh.
About Elektroprivreda Crne Gore (EPCG) Elektroprivreda Crne Gore AD Nikšić (EPCG) is Montenegro’s national electricity utility, responsible for generating, transmitting, distributing, and supplying the majority of the country’s electrical power. With around 874 MW of installed capacity—including major hydropower plants, a key thermal power facility, and an expanding portfolio of wind and solar projects—EPCG plays a central role in Montenegro’s energy transition.
Media Contact: PowerX, Inc. — Corporate Communications Email: pr@power-x.jp
Disclosure: This press release contains forward-looking statements. Actual results may differ from those projected.The details described in this press release are based on a Memorandum of Understanding and do not constitute a definitive supply contract. Specific project timelines, supply volumes, investment amounts, and definitive agreements remain subject to further discussion between the parties and may change. PowerX will make timely disclosures in accordance with the rules of the Tokyo Stock Exchange as and when material matters are determined.
BEIJING, May 11, 2026 /PRNewswire/ — On April 30, Coremail officially unveiled its AI-Native Secure Email System at the 9th Digital China Summit, showcasing the company’s continued innovation and technical expertise in enterprise email and intelligent workplace collaboration.
As AI enters the “Year of the Agent” in 2026, artificial intelligence is evolving into a new form of digital productivity capable of intelligent planning and cross-scenario coordination. At the same time, email is transforming from a traditional messaging tool into critical infrastructure that connects enterprise systems and business data flows. In response to this shift, Coremail has introduced its AI-Native Secure Email System built around a “Perceive-Think-Act” architecture.
Coremail AI-Native Secure Email System
AI-Native Email System for Smarter Workflows
The CLI-driven model is emerging as a key foundation for building agent-friendly systems, and the Coremail AI-Native Secure Email System is designed to fully unlock AI’s operational value through this architecture. Powered by large language models as its cognitive engine, agents as its execution layer, and enterprise data as its operational core, the system is helping transform email workflows from manual operations into AI-assisted collaboration.
The system is designed to support six core enterprise scenarios, including email classification, scheduling, approval workflows, workplace collaboration, email analytics, and system operations. It enables capabilities such as advanced email retrieval, intelligent meeting coordination, automated analysis and classification, and AI-assisted operations management.
Powered by user-profile and behavioral analysis, the smart dashboard can automatically identify business priorities and task urgency, helping users cut through information overload. Through coordinated multi-agent collaboration, the system enables seamless information orchestration and operational automation across emails and business processes, further enhancing operational efficiency.
Agent Capability
Core Functions
Email Classification Agent
Filters and prioritizes important emails
Email Search Agent
Supports advanced email retrieval and fast information discovery
Email Analysis Agent
Organizes communication context and assists in generating analytical reports
Meeting Scheduling Agent
Coordinates meeting arrangements and reduces repetitive communication
Email Operations Agent
Performs intelligent troubleshooting and diagnostics to ensure stable system operations
In terms of ecosystem integration, the system supports the Model Context Protocol (MCP), extending email beyond its traditional boundaries. Within a secure sandbox environment, third-party tools and APIs can be dynamically integrated on demand, enabling email to serve as a unified entry point for enterprise-wide workflow orchestration and transforming it from an information container into a business information hub.
“AI is reshaping enterprise productivity, and email is evolving from a communication tool into an intelligent collaboration hub. Coremail will continue advancing AI-native innovation to help enterprises build more secure and efficient digital workplaces,” said Marvin Wu, Vice President of Coremail.
Deep Security Controls with Strict Permission Governance
The Coremail AI-Native Secure Email System is built around a deeply secure and controllable execution framework powered by intelligent agents. Based on the ReAct (Reasoning + Acting) framework, the system brings all tasks into a standardized lifecycle spanning perception, planning, execution, and feedback, helping ensure complex workflows operate within governed business boundaries.
The system adopts a dual-layer sandbox isolation architecture built around a user-level sandbox model and the principle of least-privilege access control. Under this framework, AI agents operate exclusively within independent encrypted execution environments, enabling automated orchestration across complex email workflows while maintaining strict control over data access and permission boundaries. In doing so, the system delivers both operational efficiency and enterprise-grade security protection.
In addition, the Coremail AI-Native Secure Email System introduces comprehensive upgrades across interface design and user experience. Features such as a three-pane information layout, optimized grouping logic, floating prompts, and quick-access functions help streamline operations and create a more intuitive workplace experience.
Driven by AI innovation and built with security at its core, the Coremail AI-Native Secure Email System is redefining the enterprise email experience for the intelligent workplace era. Looking ahead, Coremail will continue advancing AI-native innovation and delivering trusted products and services that help enterprises operate with greater efficiency, security, and resilience in the age of AI.
About Coremail: Coremail is a leading enterprise email and collaboration solutions provider with over 27 years of innovation in secure communication technologies. Serving over 20,000 enterprise customers and supporting over 1 billion end users, Coremail is recognized for its stability, scalability, and AI-driven capabilities, with solutions widely adopted across government, finance, education, healthcare, and energy sectors.
BEIJING, May 10, 2026 /PRNewswire/ — On April 30, Coremail officially unveiled its AI-Native Secure Email System at the 9th Digital China Summit, showcasing the company’s continued innovation in enterprise email and intelligent workplace collaboration.
As AI enters the “Year of the Agent” in 2026, email is evolving from a traditional communication tool into critical infrastructure connecting enterprise systems and data flows. In response, Coremail has introduced an AI-native secure email system built around a “Perceive-Think-Act” architecture.
AI-Native Email System for Smarter Workflows
Built on a CLI-driven architecture, the platform uses large language models as its cognitive engine, intelligent agents as its execution layer, and enterprise data as its operational core, helping transform email workflows from human-driven operations into AI-assisted collaboration.
The system supports six core enterprise scenarios, including email classification, scheduling, approval workflows, workplace collaboration, email analytics, and system operations. Powered by a multi-agent architecture, it enables advanced email retrieval, meeting coordination, intelligent analysis, and workflow automation to improve workplace efficiency.
In terms of ecosystem integration, the system supports the Model Context Protocol (MCP), allowing third-party tools and APIs to be dynamically integrated within a secure sandbox environment. This enables email to serve as a unified entry point for enterprise-wide workflow orchestration.
“AI is reshaping enterprise productivity, and email is evolving from a communication tool into an intelligent collaboration hub. Coremail will continue advancing AI-native innovation to help enterprises build more secure and efficient digital workplaces,” said Marvin Wu, Vice President of Coremail.
Deep Security Controls with Strict Permission Governance
Built on the ReAct (Reasoning + Acting) framework, the Coremail AI-Native Secure Email System standardizes task management across perception, planning, execution, and feedback to help ensure complex workflows operate within governed business boundaries.
The system also adopts a dual-layer sandbox isolation architecture based on a user-level sandbox model and least-privilege access control, enabling automated workflow orchestration while maintaining strict control over sensitive data and permissions. In doing so, the system delivers both operational efficiency and enterprise-grade security protection.
In addition, the system introduces upgrades across interface design and user experience, including a three-pane layout, floating prompts, and quick-access functions for a more intuitive workplace experience.
Driven by AI innovation and built with security at its core, the Coremail AI-Native Secure Email System is redefining enterprise email for the intelligent workplace era.
PHUKET, THAILAND – Media OutReach Newswire – 11 May 2026 – ONYX Hospitality Group, a leading hospitality management company in the Asia-Pacific region specialising in hotels, resorts, serviced apartments and luxury residences, has marked a key milestone in the development of “EQ Phuket”, a new luxury hotel project in Phuket, Thailand. The company has signed a financial support agreement with LH Bank to support the project’s development and advance construction in line with the planned timeline.
(Left: Mr. Shih Jiing-Fuh, Middle: Mr. Yuthachai Charanachitta, Right: Mr. Donald Lim)
The signing ceremony took place on 7 May 2026 at Oriental Residence Bangkok. The agreement was signed by Mr. Yuthachai Charanachitta, Chief Executive Officer of ONYX Hospitality Group; Mr. Donald Lim, Chief Executive Officer of Equatorial Group; and Mr. Shih Jiing-Fuh, President and Chief Executive Officer of LH Bank, in the presence of senior executives from all three organisations. The ceremony reflects the strategic collaboration between the project developer, hotel management company and financial institution in advancing the project into its full development phase.
Mr. Yuthachai Charanachitta, Chief Executive Officer of ONYX Hospitality Group, said, “EQ Phuket marks an important step in ONYX Hospitality Group’s strategy to expand its portfolio of luxury resorts. We see strong long-term potential in the Phuket market, and we are confident that this collaboration with strong partners in both development and finance will help drive the project towards successful completion in line with our plans, while creating long-term value for all stakeholders.”
More than simply a new luxury hotel, EQ Phuket also represents a strategic initiative reflecting ONYX Hospitality Group’s long-term growth strategy. The development aims to strengthen the Group’s portfolio within the upper-upscale and luxury resort segment across the region. The project is expected to open in the second quarter of 2028 and will play an important role in supporting the Group’s long-term growth.
Mr. Donald Lim, Chief Executive Officer of Equatorial Group,said, “We are delighted to be working on this project, which brings our EQ brand to one of the world’s foremost tourist destinations. In 2019, the opening of our first EQ hotel in Kuala Lumpur re-energized the industry by quickly establishing itself as a landmark in the city. As a boutique brand, the combination of its elegance and chic aesthetics with exceptional warmth and hospitality was incredibly well-received. EQ continues to garner international recognition: for example in 2025, was named in Travel + Leisure magazine’s list of Top 100 Hotels in the World, placing at No. 22. We are incredibly excited to be working with ONYX Hospitality Group to introduce our EQ brand to Thailand.”
Mr. Shih Jiing-Fuh, President and Chief Executive Officer of LH Bank, revealed, “The bank has extended the loan facility of Baht 1,800 million to support the development of the EQ Phuket project, a luxury hotel located on Kata Beach, Phuket. LH Bank believes Phuket continues to stand as one of the world’s premier tourist destinations. We are confident that the EQ Phuket project will further enhance the island’s tourism potential and strengthen Thailand’s competitiveness in the global tourism market.”
This signing marks another significant milestone for the project following the joint venture agreement signed between ONYX Hospitality Group and Equatorial Group on 18 November 2024 to jointly develop the project. The development has a total investment value of approximately THB 2.8 billion. The financial support secured through this loan agreement reflects the confidence of the financial sector in the project’s potential, as well as in the continued growth of Phuket’s luxury tourism market.
Phuket remains one of the region’s leading destinations for high-spending travellers from Europe, the Middle East and the Asia-Pacific region, particularly within the upper-upscale and luxury resort segment, which continues to see strong growth potential. This is reflected in the island’s average hotel occupancy rate, which has increased to 69%, while the average daily room rate (ADR) rose from THB 4,717 in 2023 to THB 5,241 in 2024.
At the same time, the structure of Phuket’s international visitor mix has become increasingly diversified. Chinese travellers continue to represent the largest visitor segment, while arrivals from Russia and India have increased significantly. Combined with the continued recovery of long-haul travel and growing demand for high-quality leisure experiences in distinctive destinations, Phuket remains a highly attractive market for long-term luxury resort development.
The EQ Phuket project will be located on a beachfront site in the northern area of Kata Beach, Phuket, covering approximately 32 rai of land. The resort will feature approximately 170 keys, comprising 11 pool villas, 27 suites and 132 standard guest rooms.
Luxury facilities will include an all-day dining restaurant, pool bar, two swimming pools, kids club, spa, fitness centre and large-scale event and banquet spaces. The beachfront area is planned to be developed into a beach club and sports and lifestyle hub, further enhancing the luxury resort experience and offering a comprehensive range of leisure facilities.
The project is designed to cater to high-end travellers seeking a premium hospitality experience in a distinctive and private beachfront location.
For more information about ONYX Hospitality Group, please visit: www.onyx-hospitality.com Hashtag: #ONYXHospitalityGroup #HospitalityIndustry #AsiaPacificTravel
The issuer is solely responsible for the content of this announcement.
About ONYX Hospitality Group
ONYX Hospitality Group, a reputable force in Southeast Asia’s hospitality industry, operates a collection of comprehensive yet complementary brands – Amari, OZO, Shama and Oriental Residence – catering to the distinctive needs of discerning business and leisure travellers in Southeast Asia where their expertise lies. In addition to its brand portfolio, ONYX Hospitality Group also operates additional hospitality services across spa and food and beverage. With over five decades of management experience, the company extends its innovative solutions throughout the region, upholding internationally recognised standards and ensuring optimal operational manoeuvrability. By fostering enduring relationships with like-minded business partners, ONYX Hospitality Group delivers unparalleled experiences in a dynamic and competitive market, meeting the ever-evolving demands of travellers.
Equatorial is a renowned Malaysian hospitality brand having played a leading role the country’s modern hotel industry. The introduction of its EQ brand elevated that reputation with its take on stylish lifestyle travel.
Excellence in food & beverage services is another distinctive hallmark: in addition to several famous restaurants, its Kampachi holds the distinction of the oldest Japanese restaurant in Malaysia. The Group is also the master licensee of top restaurant franchises such as Ippudo ramen and MAiSEN tonkatsu from Japan.