The Thai Constitutional Court has ruled out Srettha Thavisin as the Thai Prime Minister.
Unburdened by the Past: VinFast and the Emergence of Pure-Play EVs
The automotive industry is rapidly evolving, and pure-play EV companies are at the forefront of this change, championing a sustainable future. Unlike traditional automakers who may turn to hybrid models, these companies are fully committed to electric vehicles, driving the industry towards a greener tomorrow.
HANOI, VIETNAM – Media OutReach Newswire – 14 August 2024 – The automotive industry is undergoing a transformative shift towards electric vehicles (EVs), disrupting the traditional dominance of internal combustion engines (ICE). While established car manufacturers grapple with the costly transition from ICE to EV, pure-play EV companies are emerging as agile and innovative players in the market.

Unburdened by legacy technologies and ICE supply chains, these companies are laser-focused on EV development, embracing cutting-edge technologies and sustainable practices. This is a global phenomenon, evident in the emergence of EV companies in the Middle East, such as Ceer and NWTN. However, one notable example stands out for its rapid growth and ambition: VinFast.
VinFast, the car-making arm of Vietnam’s largest private conglomerate, Vingroup, has made remarkable strides in the EV market in less than five years since its founding. The company transitioned to become a fully electric vehicle manufacturer in 2021, delivering its first self-developed EVs to Vietnamese customers in December of that year. And thanks to Vingroup’s expertise and resources, VinFast was able to construct a modern car factory in record time, a feat that usually takes traditional automakers years to accomplish. This rapid progress is a testament to VinFast’s agility and ambition, earning it recognition on TIME’s list of 100 most influential companies in 2024.
VinFast’s ambitions extend beyond its home market. The company has expanded its footprint globally, establishing a presence in the Middle East through partnerships with distributors and previously in other key markets like Southeast Asia, India, and the US. This global expansion demonstrates VinFast’s commitment to making electric mobility accessible to a wider audience.
All-In on EVs
In its April report, the International Energy Agency notes that EV companies’ stocks have outperformed general stock markets and traditional carmakers since 2019. This highlights the growing potential of this sector and the long-term growth prospects of pure-play EV companies like VinFast.
However, the transition to electric vehicles is not without challenges. Competition in the EV market is intensifying, and pure-play companies need to scale up their production and build strong brand recognition to remain competitive. The EV industry as a whole faces infrastructure limitations, such as the availability of charging stations, and needs to address consumer pain points like charging times and range anxiety.
But it’s only in this difficult backdrop that we are able to see one notable advantage of pure-play EV makers: Their unwavering commitment to going green. This obligation to adapt and innovate differentiates them from traditional automakers who might hesitate or hedge their bets by turning to half-measures like hybrids.
In VinFast’s case, their desire to go green is baked into its DNA through the unwavering commitment of its founder and also chairman of Vingroup, Pham Nhat Vuong, Vietnam’s richest man. Vingroup, its affiliates, and external lenders have provided VinFast with over $12.9 billion to fund operating expenses and capital expenditure between 2017 and March of this year. Vuong himself recently pledged another $1 billion to the company’s success.
Dedicated EV manufacturers are all-in on electric vehicles, not backing down from challenges. As the EV market matures and technology advances, pure-play companies are expected to play a crucial role in shaping the future of mobility.
Hashtag: #VinFast #EV
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Singapore Sports Hub Clinches ‘Unsung Hero’ title on the Global Stage

- Singapore National Stadium Venue Operations Team wins the ‘Unsung Hero’ Award at TheStadiumBusiness Awards 2024.
- It bested six international contenders and stands as the only venue in Asia to receive an award.
SINGAPORE – Media OutReach Newswire – 14 August 2024 – The Singapore Sports Hub Venue Operations Team flew the Singapore flag high internationally by winning in the ‘Unsung Hero’ category at TheStadiumBusiness Awards 2024 for the Singapore National Stadium. The ‘Unsung Hero’ award recognises an individual or team that delivers consistently outstanding service, commitment and results at a stadium, arena or major sports and entertainment venue. The Venue Operations Team’s patron-first philosophy and seamless synergy led to their win over six other nominees including operational team members from Arsenal FC, Miami Heat, The Trusts Arena, Croke Park, Scarlets Rugby and Newcastle United FC.

TheStadiumBusiness Awards is a globally recognised award that celebrates excellence in the stadium industry. Singapore National Stadium was the only Asian venue to receive an award this year, underlining the venue’s exceptional global standing when it comes to delivering the best experience for sporting, entertainment, and lifestyle events. Singapore National Stadium is the centrepiece of the Singapore Sports Hub, a fully integrated sports, entertainment and lifestyle destination which sits on 35 hectares of land in the heart of Singapore.
A Winning Strategy
The team’s success is attributed to their strategic planning and execution, which ensured immaculate event delivery for high-profile acts such as Mayday, Coldplay, Taylor Swift, Ed Sheeran, and Bruno Mars, and international sporting events such as FIFA WORLD CUP 2026™ – PRELIMINARY (ROUND 2) matches and HSBC SVNS SGP 2024. Their cohesive teamwork and commitment to patron-focused initiatives set the team up for success. Some examples of the team going the extra mile to elevate the patron’s experience at the Singapore Sports Hub include:
- Deploying DJs to spin music pre and post events. This adds to the vibrancy of Sports Hub’s spaces but more importantly, aids with crowd management across its venues and flow into the train stations as patrons are encouraged to travel by public transport.
- Dedicated priority access points for patrons who require assistance such as wheelchair users, pregnant patrons and senior citizens.
- Strategically placing digital and printed signage across Sports Hub to assist patrons with wayfinding and to communicate important messages in real-time.
- Tailoring amenities to suit audience demographics for example, conversion of some male toilets to female ones for the Taylor Swift | The Eras Tour concert given that the concert attendees are largely females. This move helped reduce waiting time for patrons.
- Transforming Sports Hub precinct into a huge fan zone with event-themed activities curated for the community such as friendship bracelet-making stations, face painting stations and human foosball. To top it all off, these fan zones included food trucks that served up delectable treats for patrons pre and post events.
- Safely accommodating thousands of patrons without event tickets but had gathered at the Sports Hub to soak in the atmosphere.
- Providing exceptional customer service for patrons for example when a patron misplaced her passport, the team combed through trash bins by hand to help recover it.
Since the beginning of the year, the Singapore Sports Hub has welcomed more than one million visitors across numerous sport, entertainment, lifestyle and community events.
Quek Swee Kuan, Chief Executive Officer, Kallang Alive Sport Management said, “We are honoured to have such a dedicated team driven by a shared purpose to make Singapore Sports Hub an icon of national pride. This recognition as the ‘Unsung Hero’ at TheStadiumBusiness Awards 2024 is a testament to our unwavering commitment to delivering world-class experiences for all patrons across sport, entertainment, lifestyle and community events. To deliver on our commitment to uphold the highest service standards, we foster a culture of empowerment and encourage continuous learning. Our strong partnership with private and public stakeholders is also an integral part of our success. We will continue to innovate, serving as a catalyst for people from all walks of life to create wonderful memories at the Singapore Sports Hub.”
The Sports Hub continues to welcome a diverse array of sport, entertainment and lifestyle events following an exciting start to 2024. Highlights in the second half of the year include the first Indian concert at the National Stadium by AR Rahman, K-pop sensations Tomorrow X Together, Zerobaseone and Stray Kids, leading canto- and mando-pop artistes, Yoga Lin, Andy Lau, Jay Chou, and fan favourites from Conan Gray to Lany, Olivia Rodrigo, and Dua Lipa. In sport, dancers will mesmerise audiences at dance showcase competition Super24, while cycling enthusiasts will unite at cycling lifestyle festival Pedalfest Singapore 2024. Sports fans can look forward to thrilling netball action at Mirxes Nations Cup 2024, and cheer on continental basketball champions at the FIBA Intercontinental Cup 2024.
Past winners of TheStadiumBusiness Awards include renowned venues such as Wembley Stadium and Melbourne Cricket Ground, making this achievement a significant milestone for Singapore National Stadium.
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ABOUT SINGAPORE SPORTS HUB
Singapore Sports Hub is an iconic, premier destination offering sporting, entertainment and lifestyle experiences for all to enjoy. This world-class development is managed by Kallang Alive Sport Management Co Pte Ltd (KASM). It offers programming that comprises international recreational and competitive events, live entertainment as well as activities that cater to the broader community. The Singapore Sports Hub aims to serve the sporting and entertainment needs of people from all walks of life.
Home to unique world-class sports facilities within the city, the Singapore Sports Hub plays a critical role in accelerating the development of Singapore’s sports industry, excellence and participation. Located on a 35-hectare site in Kallang, the Singapore Sports Hub includes the following facilities:
- A 55,000-capacity National Stadium with a retractable roof and movable tiered seating
- A 12,000-capacity Singapore Indoor Stadium with pillarless interior
- A 6,000-capacity OCBC Aquatic Centre that meets FINA standards
- A 3,000-capacity OCBC Arena which is scalable and flexible in layout
- Kallang Tennis Hub, Singapore’s first international tournament-ready indoor tennis facility
- Kallang Football Hub housing Singapore’s National Training Centre for football
- Water Sports Centre featuring kayaking and canoeing
- 41,000 sqm Kallang Wave Mall, including indoor climbing wall and Splash-N-Surf facility (Kids Waterpark, Stingray and Lazy River)
- 100PLUS Promenade that encircles the National Stadium
- Singapore Youth Olympic Museum & Singapore Sports Museum
- Shimano Cycling World
- Daily community facilities and activities, including beach volleyball, hard courts (futsal, basketball and netball) lawn bowls, giant chess, skate park and running & cycling paths.
Get Ready to Drive: Laos Launches New ‘DoT Smart’ App
To enhance road safety and streamline driver’s license preparation, the Lao government has unveiled the DoT Smart App, an innovative mobile application designed to transform the driving test process across the country.
Rhenus Group Appoints Gilles Delarue as New Chief Financial Officer and Member of the Management Board

SINGAPORE – Media OutReach Newswire – 14 August 2024 – The Supervisory Board of the Rhenus Group has appointed Gilles Delarue as the new Chief Financial Officer (CFO) and member of the Management Board, effective 1 September 2024. Delarue, currently serving as Head of Group Shareholdings International and Group Compliance Officer, brings extensive leadership experience within the Rhenus Group. He succeeds Egbert Bernsmeister, who is moving to sister company SARIA as Chief Financial Officer under the umbrella of the RETHMANN Group.
With over 15 years of leadership experience at Rhenus Group, a globally leading logistics service provider, Gilles Delarue brings a wealth of expertise to his new role as Chief Financial Officer. He also has an extensive management background from his tenure at SARIA, where he has held key positions since 1998. He will succeed Egbert Bernsmeister, who was in charge as CFO and Management Board member of Rhenus Group for more than 13 years and will now transition to acting CFO at SARIA. In addition to his new CFO function at SARIA, he will also leverage his experience in other key areas of the RETHMANN Group, for example as a future member of the Supervisory Board of Transdev. The two executives are working closely to ensure a seamless handover. “We are delighted to welcome Gilles Delarue, a highly experienced leader with over 15 years of background within Rhenus Group, as our new CFO and member of the Group Management Board. His international experience and deep understanding of our company’s DNA, strategic growth goals, and challenges make him uniquely qualified. At the same time, on behalf of the entire Rhenus Group, I would like to thank our long-standing Chief Financial Officer, Egbert Bernsmeister, for his significant contributions to Rhenus profitable growth. His dedication has been a driving force behind our transformation from a European-focused company to the global logistics leader we are today”, said Dr. Marco Schröter, Chairman of the Supervisory Board of Rhenus Group.
In his new role, Gilles Delarue will oversee the Rhenus Group’s finance division, which includes M&A, Finance, Controlling, Corporate Development, Legal, Compliance, and Insurance. Drawing on his extensive experience in financial management, the new CFO will ensure the Rhenus Group maintains financial stability and sustainability. “For almost two decades, I have known Gilles to be a passionate leader and outstanding financial advisor. He will be an excellent addition to our management board and successfully translate our growth strategy into consistent financial plans,” said Tobias Bartz, CEO and Chairman of the Rhenus Group. “Gilles understands and lives our Rhenus DNA and values, which makes him ideally suited for his new role as CFO in a family-owned company. Not only does his new position improve results but also, makes our company future-proof for generations to come.”
The designated CFO currently holds several key management positions within the Rhenus Group, including Group Head of Compliance and Head of Group Shareholdings International. “I am thrilled to continue the Rhenus long-lasting success story as a family-owned organization and to further propel our ambitious growth trajectory. With the privilege of taking over a strong organization from Egbert, I am confident that together with our exceptionally skilled team, we will successfully protect assets for future generations”, said Gilles Delarue.
Gilles Delarue graduated with a degree in Business Administration from the Heinrich-Heine-University Düsseldorf in 1997, marking the beginning of a remarkable 30-year career as a financial expert with leading international companies.
Hashtag: #RhenusGroup
The issuer is solely responsible for the content of this announcement.
About Rhenus
The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 7.5 billion. 40,000 employees work at 1,320 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.
Laos Faces USD 154 Million Trade Deficit in July, Seventh Consecutive Month of Imbalance
Laos recorded a USD 154 million trade deficit in July, marking its seventh consecutive month of trade imbalances. According to the Trade Information Center (LTP), this deficit excludes electricity trade.
From Clicks to Progress: Youth Digital Pathways for Sustainable Development

The Lao Youth Union (LYU) and the United Nations Population Fund (UNFPA) marked International Youth Day with an event that gathered 300 young people from across Laos under the theme “From Clicks to Progress: Youth Digital Pathways for Sustainable Development.”
The event was attended by officials and civil society representatives, emphasizing the intersection of digital technology and the Sustainable Development Goals (SDGs).
This year’s event aimed to highlight how technology drives global development. Participants engaged in an online video competition to share their visions for using technology to advance progress.
The celebration was part of UNFPA’s global campaign, “Me, My Body, My Planet, My Future,” which promotes a holistic approach to youth well-being, including sexual and reproductive health.
Digital transformation is crucial for the SDGs, with technologies like mobile devices and artificial intelligence playing a significant role. Digital interactions contribute to 70 percent of SDG targets, affecting various aspects of development, according to UNFPA.
In Laos, as of 2023, over 6.1 million mobile phone numbers and 4.6 million internet accounts had been issued, with extensive mobile coverage across the country.
Young people, often seen as “digital natives,” are leading the way in adopting new technologies and shaping digital trends. They play a critical role in leveraging technology to address global challenges as the 2030 SDG deadline approaches.
“Young people possess a remarkable capacity to learn, adapt, and innovate. In today’s world, technology is a vital tool for youth, enabling them to lead the digital transformation that benefits all of society. As adults, it is our responsibility to create the conditions for Lao youth to thrive—ensuring they are healthy, well-educated, gainfully employed, protected, and empowered to actively participate in the nation’s development from an early age,” Monexay Laomoaxong, Secretary General of the Lao Youth Union, said.
The event also focused on promoting youth leadership and engagement, aligning with the Youth and Adolescent Development Plan and the 2021-2030 Youth Development Strategy. Various activities, including artistic performances, debates, and online competitions, were held to foster dialogue and collaboration among stakeholders.
Siriphone Sakulku, UNFPA Laos Officer in Charge, emphasized the importance of youth in achieving the SDGs and the ICPD Programme of Action.
“The continuous collaboration between UNFPA and Lao Youth Union will continue to be marked by strong youth involvement, change for impact, mobilizing all sectors and actors, including media and the private sector to contribute financial and technical resources to youth empowerment and participation,” Siriphone said.
Throughout the year, UNFPA will support youth-led initiatives under the campaign, involving diverse partners to enhance youth empowerment and participation.
Information provided by UNFPA Laos
Kenanga Investors Launches New Global Islamic AI Fund
The Kenanga Alternative Series: Islamic Global Responsible Strategies Fund offers investors exposure primarily to global Shariah-compliant equities, with AI and machine learning capabilities driving its quantitative investing strategies.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 14 August 2024 – Kenanga Investors Berhad (“Kenanga Investors”) has announced the launch of the Kenanga Alternative Series: Islamic Global Responsible Strategies Fund (“KASIGRSF”), a new addition to the Kenanga Alternative Series.

The KASIGRSF is an open-ended Islamic wholesale fund that seeks to provide capital growth through exposure across global Shariah-compliant equities by investing in Chicago Global Responsible Strategies (“Target Fund”). The Target Fund is an open-ended Shariah-compliant fund, managed by Chicago Global Capital Pte. Ltd (“Target Fund Manager”). The Target Fund leverages advanced big data to determine alpha signals that best predict future returns which includes using artificial intelligence (“AI”) to identify financial data, market trends, social sentiment, and alternative data sources.
“Innovation in Islamic asset management has been relatively limited over the past 20 years with Shariah-compliant investment products accounting for less than 1% of the world’s financial assets. Islamic investors have been largely underserved, with few options beyond concentrated, actively managed funds or broad market Islamic indices. However, the industry is now facing a necessary evolution. With approximately 2.5 quintillion bytes of data generated each day worldwide, traditional methods are not equipped to handle supermassive, unstructured datasets. The Target Fund addresses this gap, leveraging advanced machine learning techniques to offer a sophisticated, data-driven approach and Shariah-compliant investment solution for investors”, said Executive Director and Chief Executive Officer of Kenanga Investors, Datuk Wira Ismitz Matthew De Alwis.
“By incorporating the new fund into our suite of products, we are also enabling our investors to diversify their portfolios, manage risk more effectively, and pursue their financial goals with a holistic approach. Ultimately, this aligns with our commitment to delivering well-rounded and strategic financial planning services for long-term success”, he added.
The investment philosophy underpinning the Target Fund is deeply rooted in the University of Chicago’s heritage in finance, with the over 20 alpha signals derived from rigorous academic research, developed in collaboration with Nobel Prize-winning scientists at the university. Ivan Chelebiev, Founder and Chief Executive Officer of Chicago Global Capital (“Chicago Global”) explained, “Chicago Global Capital operates a state-of-the-art asset pricing engine, which distils, verifies, and analyses a billion datapoints per week, extracting actionable intelligence in real-time. We identify and deploy investment signals that are up to 10 times stronger than conventional methods. As the industry continues to evolve, Kenanga Investors’ commitment to bringing cutting-edge strategies to its investors will set it apart from its rivals. To fuel its next growth chapter, we are excited to partner with Kenanga Investors to launch KASIGRSF. The team at Chicago Global remains focused on delivering exceptional value to our partner and its investors, cementing our position as a pioneer in the age of data-driven investing”.
Benchmarked against the MSCI ACWI Islamic Index, the KASIGRSF is suitable for Sophisticated Investors with medium to long term investment horizons. It is available in dual currency classes of MYR and USD with minimum initial investment amounts of RM5,000 and USD1,000 respectively.
The Kenanga Alternative Series (“Series”), which was launched in July 2024, aims to cater to investors’ tactical needs while seizing emerging opportunities within dynamic market segments. In addition to KASIGRSF, the Series also includes the Kenanga Alternative Series: Income Opportunities Fund. Each fund offers unique benefits, allowing investors to diversify and hedge their portfolios according to their needs.
The Hong Kong-based Asia Asset Management’s 2024 Best of the Best Awards has awarded Kenanga Investors with the Malaysia Best House for Alternatives title for five consecutive years. This recognition underscores the asset manager’s excellence and innovation in the alternatives investment space, reaffirming its position as a trusted leader in the industry.
For more information about Kenanga Investors, please visit www.kenangainvestors.com.my.
Hashtag: #Kenanga
https://www.kenangainvestors.com.my/
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Kenanga Investors Berhad 199501024358 (353563-P)
We provide investment solutions ranging from collective investment schemes, portfolio management services, and alternative investments for retail, corporate, institutional, and high net worth clients via a multi-distribution network.
The Hong Kong-based Asia Asset Management’s 2024 Best of the Best Awards awarded KIB under the following categories, Malaysia Best Impact Investing Manager, Best Impact Investing Manager in ASEAN, Malaysia Best Equity Manager, Malaysia CEO of the Year, Malaysia CIO of the Year, Malaysia Best House for Alternatives, Malaysia Most Improved Fund House and Malaysia Best Investor Education.
At the LSEG Lipper Fund Awards Malaysia 2024, KIB received awards for the Kenanga Malaysian Inc Fund (“KMIF”) under the best Equity Malaysia Diversified – Malaysia Pension Funds over 10 Years and the Kenanga Diversified Fund (“KDF”) under the best Mixed Asset MYR Flexible – Malaysia Pension Fund over 10 Years.
The FSMOne Recommended Unit Trusts Awards 2024/2025 named Kenanga Growth Fund Series 2 as “Sector Equity – Malaysia Focused”.
For the seventh consecutive year, KIB was affirmed an investment manager rating of IMR-2 by Malaysian Rating Corporation Berhad, since first rated in 2017. The IMR rating on KIB reflects the fund management company’s well-established investment processes and sound risk management practices. As at end-June 2023, most of KIB’s funds had performed better than benchmarks and were comparable to peers.
This Press Release was issued by Kenanga Group’s Marketing, Communications & Sustainability department.