27.8 C
Vientiane
Friday, June 27, 2025
spot_img
Home Blog Page 1167

First Phosphate Announces Positive Results of Preliminary Economic Assessment at its Begin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, Canada


Saguenay, Quebec – Newsfile Corp. – December 4, 2024 – First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce the positive results of its Preliminary Economic Assessment (“PEA“) on the Bégin-Lamarche Property (the “Property” or the “Project“) located 75 km northwest of Saguenay, Quebec, Canada.

The PEA provides a potentially viable case for developing the Property by open pit mining for the primary production of phosphate concentrate and secondary bi-product recovery of magnetite concentrate.

Highlights (all dollar amounts in Canadian dollars on a 100% project ownership basis unless otherwise indicated):

  • The Project would produce an annual average of 900,000 tonnes of beneficiated phosphate concentrate at 40% P2O5 content and 380,000 tonnes of magnetite at 92% Fe2O3 content over a 23-year mine life.
  • The Project generates a pre-tax internal rate or return (IRR) of 37.1% and a pre-tax net present value (NPV) of $2.100 Billion at an 8% discount rate at an approximate 3-year trailing average phosphate price plus a premium for purity and potential secure source of supply, and a 2-year trailing average magnetite price plus a premium for purity.
  • The Project generates an after-tax internal rate or return (IRR) of 33.0% and an after-tax net present value (NPV) of $1.590 Billion at an 8% discount rate.
  • The Project would generate an after-tax cash flow of $700 Million in years 1 to 3, resulting in a 2.9-year payback period from start of production. Pre-tax cash flow in years 1 to 3 is $783 Million for a 2.6-year payback period.
  • The Project benefits from adjacent paved provincial road access and nearby electrical power line, and year-round accessible deep-sea Port of Saguenay at approximately 85 km driving distance. Initial capex for the Project is limited to $675 million.
  • The PEA used Indicated and Inferred Mineral Resources in its calculations.
  • The Project has no outstanding royalties or financing streams registered against it.

“We are pleased with the results and timely completion of this PEA. Existing local infrastructure keeps our capex low, our mine size controlled and our mine economics robust,” says First Phosphate CEO, John Passalacqua. “Our internal Pre-Feasibility work is also near completion and we are now in a position to determine the timing on our Feasibility Study.”

PEA BASE CASE FINANCIAL SUMMARY (all dollar amounts in $Canadian unless otherwise noted, presented on a 100% ownership basis):

Pre-Tax Net Present Value (8% discount rate) $2.100 Billion
After-Tax Net Present Value (8% discount rate) $1.590 Billion
Pre-Tax Internal Rate of Return 37.1%
After-Tax Internal Rate of return 33.0%
After-Tax Payback 2.9 Years
Pre-production Capital $675 Million
Sustaining Capital $317 Million
Mine Life 23 Years
Process Plant Throughput 18,000 tpd
Concentrate Prices
Phosphate (40% P2O5) $350/t USD
Magnetite (92% Fe2O3) $168/t USD
Exchange Rate $CAD:$USD $1.37 (0.73)

PEA TECHNICAL SUMMARY

Mine Life 23 years
Mine Plan Tonnage 150.5 Million tonnes
Process Plant Feed Grade
P2O5 5.76%
Fe2O3 10.32%
Strip Ratio (Waste:Process Plant Feed) 1.5:1
Operating Cost (per tonne of process plant feed) $28.31

Pit-Constrained Mineral Resource Estimate at 2.5% P2O5 Cut-off (1-4)
Classification Zone Tonnes
(M)
P2O5
(%)
P2O5
(kt)
Fe2O3
(%)
Fe2O3
(Mt)
TiO2
(%)
TiO2
(kt)
Indicated Mountain 9.3 8.19 758 9.95 0.9 3.23 299
Northern 32.2 6.00 1,934 10.91 3.5 3.33 1,073
Total 41.5 6.49 2,692 10.69 4.4 3.31 1,372
Inferred Mountain 6.8 8.57 584 10.34 0.7 3.68 251
Northern 44.3 6.98 3,090 11.14 50 3.26 1,442
Southern 162.9 5.63 9,177 10.85 17.6 3.73 6,080
Total 214.0 6.01 12,851 10.89 23.3 3.63 7,773

Note: P2O5 = phosphorus pentoxide, Fe2O3 = iron oxide/ferric oxide, TiO2 = titanium dioxide.
1. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation socio-political, marketing, or other relevant issues.
3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
4. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.



BÉGIN-LAMARCHE PHOSPHATE DEPOSIT

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/232312_d0716826f4fb49ef_001full.jpg

The mine plan uses conventional truck/shovel open pit methods utilizing 90-tonne capacity haulage trucks and shovels equipped with 10 cubic metre buckets. The open pit will be mined over a period of 22 production years and six months of pre-stripping. Low-grade mineralization that is stockpiled over the life-of-mine will be processed for an additional production year. Mineralized material will be transported by haulage trucks to the nearby process plant, and waste rock will be stored at a facility located approximately 800 metres southeast of the open pit. Backfilling of the mined-out open pit with 61 Mt of waste rock is planned, which will reduce the amount required to be stored on surface and lead to proactive restorative measures. Mining is to be conducted at an initial rate of 15 Million total tonnes per annum (Mtpa), and will reach a peak of 28 Mtpa based on process plant feed and waste rock removal requirements.

The process plant feed is contained within an optimized subset of the Mineral Resource set out in the table above. The open pit contains 150.5 Mt of process plant feed (inclusive of mining dilution and loss factors) averaging 5.76% P2O5 and 10.32% Fe2O3. The process plant feed is associated with 219 Mt of waste rock and overburden resulting in an overall life-of-mine strip ratio of 1.5:1. It is notable that all Mineral Resources considered for mining are in the Indicated and Inferred classifications.

Extensive metallurgical testing was carried out at SGS, Quebec City. The test work has indicated process recoveries of phosphate and magnetite to be reasonably high and relatively consistent. The most recent tests focused on circuit stability and maximizing concentrate recovery. Elements of potential concern in traditional phosphate operations based on sedimentary phosphate deposits used for fertilizers are not an issue since the Bégin-Lamarche Mineral Resource is based on a clean igneous rock deposit. Moreover, the low sulphur content suggests the tailings material would not create an environmental risk for acid generation or for metal leaching. Lastly, dry stack tailings and waste rock management are designed for closure and the elimination of concerns for acid drainage or metal leaching.

Initial Capital Costs ($Canadian Millions)

Pre-Stripping 6
Process Plant Equipment and Building 262
Mining Equipment (leased) 23
Tailings Management Facility 29
Indirects, EPCM and Owner’s Costs 154
Site Infrastructure 89
Contingency 112
Total Initial Capital 675

LOM Sustaining Capital Costs ($Canadian Millions)

Mining 100
Process Plant 63
Tailings Management Facility 39
Site Infrastructure 45
EPCM 4
Reclamation 16
Contingency 50
Total Sustaining Capital 317

LOM Operating Costs ($Canadian per tonne)

Mining Cost per Tonne Mined Material (waste and mineralized material 2.73
Mining Cost per Tonne Process Plant Feed 6.71
Processing Cost per Tonne Feed 12.56
G & A per Tonne Process Plant Feed 1.28
Tailings and Water Management 3.45
Concentrate Handling and Transport 4.31
Total Cost per Tonne Process Plant Feed 28.31

The Project site is within the ancestral lands of the Pekuakamiulnuatsh Takuhikan First Nation, which confers certain rights to indigenous peoples in the area. First Phosphate recognizes the traditional rights of Indigenous people and acknowledges the exercising of treaty rights to preserve their cultural identity and customs. A formal collaboration agreement with Pekuakamiulnuatsh Takuhikan First Nation was signed on April 9, 2024 which includes the ability for the First Nation to become involved financially in the mining activity and other related downstream facilities to be developed by First Phosphate.

Qualified Persons

The scientific and technical disclosure for First Phosphate included in this News Release have been reviewed and approved by Gilles Laverdière, P.Geo. VP Exploration for First Phosphate and Mr. Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc. Messrs. Laverdière and Puritch are Qualified Persons under National Instrument 43-101 Standards of Disclosure of Mineral Projects. Mr. Puritch is independent of First Phosphate.

About First Phosphate Corp.
First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, in a responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate is owner and developer of the Bégin-Lamarche Property in Saguenay-Lac-St-Jean, Quebec, Canada that consists of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of harmful concentrations of deleterious elements.

About P&E Mining Consultants Inc.
P&E was established in 2004 and provides geological and mine engineering consulting reports, Mineral Resource Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies. P&E is affiliated with major Toronto based consulting firms for the purposes of joint venturing on Feasibility Studies. P&E’s experience covers over 450 NI 43-101 Technical Reports including First Phosphate’s Bégin-Lamarche NI 43-101 Mineral Resource Estimate which was completed in October 2024.

For additional information, please contact:
Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate/

-30-

Forward-Looking Information and Cautionary Statements
This news release contains certain statements and information that may be considered “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward-looking statements, including, among other things,: the Company’s planned exploration and production activities; the properties and composition of any extracted phosphate; the Company’s plans for vertical integration into North American supply chains; the calculation of mineral resources at the project and the possibility of eventual economic extraction of minerals from the Project; the projected yearly production profile from operations; life of mine sustaining costs; process plant throughput and average grades; the projected economics of the Project, including total sales, premiums, margins, taxes, average annual production; the net present value of the Project; the internal rate of return on the Project; Project payback period, average yearly free cash flow, life of mine unit costs, projected mine life, the total initial capital and sustaining capital costs; and the project design, including the location of the tailings management facility, process plant, infrastructure area, stockpile areas, remediation plans and the proposed mine and transportation plans.

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company’s public disclosure record including the short form base prospectus dated June 5, 2024, as well as: there being no significant disruptions affecting the activities of the Company or inability to access required Project inputs; permitting and development of the Project being consistent with the Company’s expectations; the accuracy of the current mineral resource estimates for the Company and results of metallurgical testing; certain price assumptions for P2O5 and Fe2O3; inflation and prices for Project inputs being approximately consistent with anticipated levels; and the Company’s relationship with Pekuakamiulnuatsh Takuhikan First Nation and other Indigenous parties remaining consistent with the Company’s expectations.

There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian and United States securities authorities, including without limitation the “Risk Factors” section of the Company’s Management Discussion and Analysis dated October 23, 2024 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Certain forward-looking statements in this press release may also constitute a “financial outlook” within the meaning of applicable securities laws. A financial outlook involves statements about the Company’s prospective financial performance, financial position or cash flows and is based on and subject to the assumptions about future economic conditions and courses of action and the risk factors in relation to such financial outlook noted in this press release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this press release is provided for the purpose of helping readers understand the Company’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above, or any other factors may cause actual results to differ materially from any financial outlook. The actual results of the Company’s operations will likely vary from the amounts set forth in any financial outlook and such variances may be material.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR THE UNITED STATES

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

Commerce Dot Com Celebrates Landmark Feat with Triple Gold Victory at MPRA 2024


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 4 December 2024 – Commerce Dot Com Sdn. Bhd. (CDC) achieved an extraordinary milestone at the Malaysia Public Relations Awards (MPRA) 2024, taking home an unprecedented three gold awards for its outstanding campaigns. This landmark victory underscores CDC’s leadership in corporate communications and its unwavering commitment to excellence, ethics, and innovation. These accolades highlight CDC’s dedication to crafting narratives that champion ethics, innovation, and inclusivity in corporate communications.

CDC secured the Gold Award in the Public Affairs category for its Strong Ethics Nurture Integrity (SENI) campaign, which aimed to address procurement challenges and promote ethical practices.
CDC secured the Gold Award in the Public Affairs category for its Strong Ethics Nurture Integrity (SENI) campaign, which aimed to address procurement challenges and promote ethical practices.

The three awards were presented for the following submissions:

1. Best Use of Content – Gold Award
This campaign showcased CDC’s 25-year journey through a collaboration with neurodivergent artist Danial Khushairi. His artwork brought CDC’s transformation from pioneering Malaysia’s ePerolehan system to being a technological leader to life. By leveraging Danial’s art across branded merchandise, a microsite, and social media platforms, the campaign embodied CDC’s commitment to inclusivity and sustainability while capturing the essence of its growth and achievements.

2. Employee Communications- Gold Award
CDC breaks the stereotype of IT workers by instilling values that foster camaraderie, health, and a spur of adventure. Through their company values, CDC has nurtured an active workforce, engaging in events like ‘CDC Strides and an expedition to Kilimanjaro. Employees connected beyond the office, supporting communities, and living out values di collaboration and integrity. These efforts have not only strengthened CDC’s culture but also enhanced its brand visibility, making its 25th-anniversary celebration a milestone of unity, health, and appreciation for the outdoors.

3. Public Affairs – Gold Award
Aimed at addressing procurement challenges and promoting ethical practices, CDC’s Strong Ethics Nurture Integrity campaign featured the National Procurement Conference (NPC) 2024. Organized in collaboration with MICG and supported by MACC, the event brought together over 400 procurement professionals to discuss integrity and governance. Internally, CDC reinforced its message through sustained communication efforts, ensuring both staff and external stakeholders embraced the campaign’s core values.

These recognitions follow CDC’s long-standing commitment to championing ethical practices, aligning with its vision of fostering transparency and accountability across the procurement landscape.

“Our success at MPRA 2024 reflects the incredible dedication and creativity of our CCM team,” said Hafidz Bin Ahmad Zehnun, Vice President of Corporate Planning & CCM. “To win three golds in one night is an extraordinary achievement and reflects CDC’s commitment to excellence and integrity at every level. This recognition inspires us to continue raising the bar as we lead with purpose and innovation.”

As CDC celebrates its 25th anniversary, these accolades reaffirm the company’s enduring mission to lead with integrity and innovation, setting new benchmarks for excellence in corporate communications and public affairs.

Hashtag: #business #corporate #cdc #integrity #transparency #campaign #commercedotcom #cdc #publicaffairs #employeecommunications




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

About Commerce Dot Com Sdn Bhd

Established in 1999 as a procurement solutions provider, Commerce Dot Com Sdn. Bhd. (CDC) is a government-linked company under the Ministry of Finance whereby the ministry’s corporate arm, Ministry of Finance (Incorporated), holds a golden share in the company. With over 20 years of experience under its belt, CDC has established itself as among the leading procurement solutions providers in Malaysia and has a well-earned reputation for providing exceptional services through its innovative solutions.

The Top Workplaces in Saudi Arabia for 2024 Announced


RIYADH, SAUDI ARABIA – Media OutReach Newswire – 4 December 2024 – The prestigious Best Places to Work certification program has revealed its 2024 rankings, recognizing leading organizations in Saudi Arabia that excel in creating outstanding workplaces focused on employee satisfaction, engagement, and well-being. The rankings are divided into three categories based on company size: large, mid-sized, and small.

In the Large Companies category (over 1,000 employees), Roshn secured the top position for its commitment to fostering an inclusive and engaging work culture. It was followed by the Royal Commission for AlUla, dedicated to preserving Saudi Arabia’s cultural heritage, and International Maritime Industries, a leader in the maritime sector. Other companies in the top 10 include Panda, Saudi Air Navigation Services, Extra, Jana MS, Bindawood, Gasco, and Saudia Technic.

In the Mid-Sized Companies category (101–1,000 employees), First Milling Company led the rankings, recognized for its role in Saudi Arabia’s food sector. Pfizer Saudi, a leading biopharmaceutical company, and Matarat Holding, focused on aviation and airport operations, took second and third places, respectively. Xerox Saudi and Al Rugaib Holding rounded out the top five, with additional companies like the Islamic Development Bank, Bidaya Finance, and Saudia Cargo included in the top 18.

For Small Companies (fewer than 100 employees), Alnahdi Family Office ranked first, followed by Saudi Downtown Company and Al Ramz. Falak Investment Hub, supporting entrepreneurs and startups, and AXS, a leader in IT consulting, completed the top five. Other recognized companies include Emkan Education, Madar, and Aseer Investment.

Special awards were given to organizations demonstrating excellence in areas like diversity, employee well-being, and HR practices. Resal was honored for its well-being initiatives, while Modern Building Leaders received recognition for exceptional HR practices.

This year’s survey revealed that 80% of employees at certified organizations feel pride in their work, inspired by leadership, and positive about their company’s community contributions. The study also highlighted that the new generation of Saudi talent values growth opportunities, equity, diversity, inclusion, and individuality.

For more information, visit: www.bestplacestoworkfor.org.
Hashtag: #BestPlacestoWork

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

AI adoption across Finance functions achieves standout levels of ROI with usage only set to increase

71% of organisations are using AI in their finance operations

  • 57% of leaders say ROI is exceeding their expectations, compared to 29% of others.
  • Financial reporting is the most common usage area – but this is widening out to include treasury management, risk management and tax
  • Nearly three-quarters of leaders have developed principles and guidelines on the responsible use of AI

HONG KONG SAR – Media OutReach Newswire – 4 December 2024 – New research from KPMG International reveals the dramatic extent to which artificial intelligence (AI) is being deployed in organisations’ finance operations – with compelling levels of ROI and a wide range of benefits including better data and decisions, faster insights and reporting, lower costs, and greater operational effectiveness. The KPMG report reveals that organisations are extracting the most value from machine learning, deep learning, and generative AI and report the ROI from these technologies is either meeting or exceeding expectations.

The research, published in the KPMG global AI in finance report, covered 2,900 organisations across 23 countries and built upon research conducted earlier this year across 1,800 organisations in 10 countries. A maturity framework was created to assess respondents into three AI-readiness groups: 24% of organisations qualify as Leaders, while 58% are middle ground Implementers, and 18% are Beginners. KPMG has also developed an AI maturity benchmarking tool designed to help organisations assess their progress in the AI transformation journey.

AI deployment grows, Gen AI a key future priority

71% organisations are using AI to some degree in their financial operations. Currently, 41% of them are using AI to a moderate or large degree – and this is predicted to rise to 83% over the next three years. In just six months since the first wave of research, the spread of AI is already visible. Whereas in April 2024, 40% of organisations in the original 10 countries were using traditional AI in their finance operations to a moderate or large degree, this has increased to 45 percent.

The use of Gen AI has also grown. The percentage of companies with no intention to use Gen AI has fallen from 6% to just 1% now. Gen AI has become a top priority for the future, with 95% of leaders and 39% of others expecting to selectively or widely adopt it within financial reporting in the next three years.

Adoption everywhere

KPMG’s research also underlines the extent to which AI is being utilised around the world. While companies in the US, Germany and Japan are well ahead in AI usage, other major economies, such as Italy and Spain, are behind. The same dichotomy is evident in emerging markets, with China and India ahead in AI usage, and Saudi Arabia and the African countries further behind.

Adam Scriven, Head of Finance Transformation, Hong Kong at KPMG China, says: “Building AI capability has become an imperative for CFOs and Finance functions in embracing the digital age. It’s critical to recognise that AI is a capability, and not a technology product. We all have to start the AI journey, learn and build better capabilities. KPMG is helping clients establish the right data and systems, modelling and analytics backbone in order to harness the power of AI. KPMG is also co-creating AI solutions with clients to help build capability and go on the journey together.”

Alan Yau, Audit Innovation Leader at KPMG China, says: “AI in financial reporting is transforming the industry with enhanced accuracy, efficiency, and real-time insights. As a mega trend, AI enables predictive analytics and data-driven decisions. Upskilling and retaining talent are crucial in this evolution. Organisations must prioritise continuous learning to equip their workforce with AI skills, fostering innovation and adaptability, in order to drive sustainable growth and maintain a competitive edge in the market.”

AI usage opening out across finance

Companies are turning to AI in every area of corporate finance. Financial reporting is the most widespread usage area, with nearly two-thirds of companies piloting or using AI for reporting, accounting and financial planning. But other areas are following suit: nearly half of companies are now piloting or using AI for treasury and risk management. This can generate better debt management, cash-flow forecasting, fraud detection, credit risk assessment, and scenario analysis in the treasury and risk management functions. Tax management, however, sits slightly further behind. Less than one-third of companies piloting or using AI in this area, although about half are in the planning stage.

Leaders moving ahead

Leaders are showing the way, with more than three times as many leaders (87%) as others (27%) using AI in finance to a moderate or large degree. Leaders are moving fast and have on average developed six use cases for AI, almost double the number amongst others. Top areas for usage are research and data analysis (85%), fraud detection and prevention (81%), predictive analysis and planning (78%), and using Gen AI for composing documents and other content (75%).

Common barriers that all companies encounter include data security vulnerabilities (57%), limited AI skills and knowledge (53%), gathering consistent data (48%) and costs (45%) – but leaders are better able to navigate these through the steps they have taken. Their chief barriers become more advanced ones, such as integrating AI solutions with existing tools and overcoming any residual staff resistance.

Reaping the benefits and achieving ROI

As the use of AI in finance grows, the dividends multiply. When starting out, finance teams report two to three benefits. By the time they are leaders, that number is seven.

Just as the benefits from AI can rise with its usage, so does the potential return on investment. As a result, a remarkable 57% of leaders say ROI is not just meeting but exceeding their expectations. Even amongst less advanced adopters, nearly one third (29%) report the same.

Stanley Sum, Head of Digital Enablement at KPMG China, says: “AI is reshaping the finance function, paving the way for both potential opportunities and challenges. Hence, robust AI governance is not merely conducive to meeting regulatory demands, but it stands as an essential component. KPMG assists its clients in their journey to manage risks, promoting transparency and the ethical usage of AI in governance. By implementing mindful supervision now, we help safeguard the future of finance.”
Hashtag: #KPMGChina

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

About KPMG China

KPMG China has offices located in 31 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multidisciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.

KGI: 2025 Market Outlook

Balancing Global Dynamics


HONG KONG SAR – Media OutReach Newswire – 4 December 2024 – Today, KGI has released its 2025 Market Outlook, covering regions including Mainland China, Hong Kong, Taiwan, the U.S., Singapore, and Indonesia.

(From left) Cusson Leung, Chief Investment Officer at KGI; James Chu, Chairman at KGI Securities Investment Advisory; James Wey, Head of International Wealth Management at KGI; Kenny Wen, Head of Investment Strategy at KGI
(From left) Cusson Leung, Chief Investment Officer at KGI; James Chu, Chairman at KGI Securities Investment Advisory; James Wey, Head of International Wealth Management at KGI; Kenny Wen, Head of Investment Strategy at KGI

Reflecting on this year, the cooling of inflation and the labor market in the United States has brought the economy to a roughly balanced risk between employment and inflation. With Trump re-entering the White House, his policy propositions are poised to impact global economic development and shape the trend of medium and long-term interest rates. In China, domestic investment confidence remains weak. With the potential risk of the United States significantly increasing tariffs, Chinese exports may be affected. In response, China will introduce relevant measures to address these challenges.

Under this backdrop, we recommend the “ACE” strategy for 2025:

  1. Alternatives: Gold and cryptocurrencies — assets with lower correlation to traditional stocks and bonds.
  2. Credit Selection: Prioritize high-rated bonds, focusing on opportunities in corporate bonds.
  3. Elite Stocks: Prefer U.S. and Japanese stocks, maintain a preference for large-cap over small-cap, and pay attention to sector rotation.

Kenny Wen, Head of Investment Strategy at KGI, says: “Regarding asset allocation, based on our assessment of the global economy and geopolitical factors for 2025, investors can consider the ACE strategy: A is for Alternatives, which refers to diversifying into alternative assets to reduce portfolio volatility, with gold being a viable option. C is for Credit Selection, meaning carefully selecting investment-grade bonds to enhance potential income. Lastly, E is for Elite Stocks, where we prefer large-cap stocks, particularly from the U.S. and Japan.”

Macro and the U.S. Market
Within developed markets, the U.S. economy may slow down more significantly than the current market consensus estimate. In other regions, the recovery in the Eurozone and the UK was weaker than expected, but the trend of year-on-year growth is still improving. It is expected that the overall performance will still lag behind the U.S., but the gap is narrowing. In China, the market is currently focused on whether the Central Economic Work Conference in December can propose effective fiscal “stimulus” policies; otherwise, achieving 5% economic growth in the future remains challenging.

In the U.S., the manufacturing recovery has been weak, mainly due to overall weak capital expenditure. On the other hand, for the service sector, has shown unexpectedly strong performance, which has been key to the U.S. economy outperforming other mature markets over the past six months. However, with declining savings rates and increasing financial burdens, credit consumption momentum will weaken, potentially dragging on the U.S. economy in 2025.

Trump’s four major policies—tax cuts, increased tariffs, immigration restrictions, and financial deregulation—have an uncertain execution order, which may adversely affect inflation. Starting with restrictions on immigration and the implementation of tariffs, these policies are visible. Therefore, throughout the year, the four policies mentioned above may be announced in the first half, increasing the volatility of financial markets. However, higher economic risk for the United States is still in the second half of the year, and whether there will be improvement in the fourth quarter depends on the policy changes at that time.

The U.S. has returned to a roughly balanced dual-risk target of employment and inflation, with core inflation expected to continue declining in 2025. However, Trump’s increased tariffs and anti-immigration policies could lead to a resurgence in goods and services inflation, posing a risk of rising inflation again in 2026. The U.S. has returned to a state of full employment, with the unemployment rate for non-temporary jobs slowly rising, which may negatively affect the consumer spending.

In terms of U.S. stock investment, after two consecutive years driven by the AI wave, the overall U.S. stock market is no longer cheap. However, we see opportunities for sector rotation in the future, mainly reflected in estimated earnings improvements, particularly in finance, materials, industrial, and healthcare sectors. From a timing perspective, we believe the positive post-election stance can be maintained in the first quarter, but starting in the second quarter, the risks of Trump’s policies and economic downturn expectations will be reflected; risks will further increase in the second half, with the first half overall better than the second half.

As for bond investment, under Republican full control, bond investment may be adversely affected. For example, worsening fiscal deficits will increase bond issuance costs, rising inflation will lead to higher yields on medium- and long-term bonds, and poor fiscal discipline and long-term inflation risks will push up neutral interest rates and bond term premiums. Therefore, medium- and long-term government bonds are less favored in 2025, while some short-term government bonds or high-credit-quality corporate bonds, with relatively higher yields, can provide good interest income. Overall, 2025, with increased inflation risk and potential monetary policy reversal, is not favorable for bond investment.

James Chu, Chairman at KGI Securities Investment Advisory, says: “The global economy’s overall growth in 2025 is expected to be similar to that of 2024. Although the U.S. economy is showing a downward trend, it remains relatively strong among developed markets. The biggest variable for economic performance in 2025 remains the implementation of policies following Trump’s return to office; the impact of these policies on the economy might be difficult to assess immediately, but they are certainly unfavorable for inflation. The Federal Reserve is expected to cut interest rates by 75-100 basis points, potentially reaching a low of 3.75-4.0% in 2025, with rate hikes possibly resuming in 2026. In terms of investment, after being driven by the AI wave for two consecutive years, U.S. stocks are no longer cheaply valued, but there are opportunities for sector rotation. It is expected that in 2025, the S&P 500 will still see mid to high single-digit profit growth, with annual returns estimated between 6-12%, which is a decline compared to the previous two years. In terms of timing, we believe the first quarter should maintain the current post-election bullish trend. Starting in the second quarter, the market is expected to reflect the risks associated with Trump’s policies and the anticipated economic downturn, which may lead to market volatility. Risks are expected to increase further in the second half of the year, with overall performance anticipated to be better in the first half than in the second half.”

Mainland China and Hong Kong Markets
Looking back at the first three quarters of the year, the Chinese economy grew 5.3% YoY in Q1, beating the expected 4.8%, but the momentum slowed down afterwards. In Q2 and Q3, the growth rates came in at 4.7% and 4.6% respectively. This brought GDP growth for the first three quarters to 4.8%, below the government’s target of around 5%. China’s economic growth has been trending down quarter by quarter, indicating strong downward pressure on its economy. Hence the Chinese government has introduced a package of counter-cyclical policies in recent months, which include not only monetary policies such as reducing reserve requirement ratios (RRRs) and interest rates cut, but also a relatively large-scale debt-swap program to ease the stress on local governments’ budgets, to release the resources for supporting the economy.

5% GDP growth for 2025 facing lingering challenges
In fact, although the debt relief program looks sizable, but fiscal “stimulus” is lacking. China needs fiscal policy along with stimulus measures that are large and direct enough to make a difference in the medium to long term. We are expecting that China will continue to advance its medium-term policy stimulus (more rate cuts and other individual measures are possible by year-end; any large-scale incremental fiscal program might have to wait until after next year’s Two Sessions). Moreover, the upcoming focus will be December’s Central Economic Work Conference (CEWC), at which the policy setting for next year will be determined. Investors are more concerned about the impact of Donald Trump’s retaking the White House on China-U.S. relations and the Mainland economy. Tariffs have moved to the center stage while foreign affairs, finance and technology, etc. have receded slightly. If Trump insists on raising tariffs on all Chinese imports to 60%, the impact on China’s trade and economy will be significant. In short, China’s economy next year will be driven by two opposing forces: U.S. policy and stimulus efforts of the Central Government.

Overall, as confidence is yet to be restored, might have to do with China’s not-yet-returned animal spirits. In addition, the continued sluggish employment performance has led to the limited growth in wages (especially for new employees). All this is making people reluctant to spend like they did in the past. Given such stubborn structural problems, we believe that achieving a 5% economic growth rate in China in 2025 will be challenging.

Target price for the HSI in 2025: 23,200 points
Looking ahead to 2025, While the China-U.S. relationship is poised to be the primary risk factor for the Hong Kong stock market in 2025, from an optimistic perspective, the declaration by President Trump regarding a potential 60% tariff on Chinese imports may serve as a part of bargaining strategy, leaving the final tariff rates and their scope uncertain. Additionally, considering that the Ministry of Finance has indicated that further economic stimulus measures are yet to be introduced, our outlook for the market remains cautiously positive. Considering the unusually exuberant market sentiment during the HSI’s recent decline from the peak, when daily trading turnover exceeded HK$600bn at once, we believe that the index has the potential to return to the 23,200 points in 2025. In terms of market valuation, the market forecasts EPS of HK$2,210 for 2025, reflecting a YoY growth of 5.1%. Thus, the forwarded P/E corresponding to the 23,200-point level would be 10.50x, slightly above the 10-year average of 10.26x. Should the index close at 19,700 points by year-end, this would indicate a potential upside of approximately 17.8%.

This scenario is based on the following key assumptions: (1) the scale of economic stimulus measures aligns with expectations and focuses on private consumption, (2) EPS growth for the HSI maintains above 5%, and (3) the China-U.S. conflict is confined to trade-related issues only.

Three investment themes for 2025

  1. Benefiting from new policies
  2. Low geopolitical sensitivity
  3. Actively expanding business overseas

Top Picks

Name Target Price
Benefiting from new policies
CMB (3968) 43.0
PAI (2318) 57.5
Low geopolitical sensitivity
CSCI (3311) 11.9
Tencent (700) 507.0
China Mobile (941) 80.9
Actively expanding business overseas
Trip.com (9961) 625.3
BYD (1211) 319.1

Prepared by KGI

Kenny Wen, Head of Investment Strategy at KGI, says: “In light of various external uncertainties, such as the recent escalation in the Russia-Ukraine situation and Trump’s threats to significantly increase tariffs, there are potential negative impacts on China’s economy. Coupled with insufficient domestic demand, achieving a 5% economic growth rate next year may be challenging. We should closely monitor the Central Economic Work Conference in December and the Two Sessions in March next year, by then to gain more insights on, how would central government’s assess economic performance and the timeline for introducing stimulus policies. Regarding the Hong Kong stock market, while the economic and corporate earnings growth prospects in mainland China remain conversative, the Hang Seng Index’s attractive valuation and the underweight positions of foreign institutional investors suggest that the market may continue to experience significant fluctuations. Once investor confidence returns and capital flows into the market, the Hang Seng Index could potentially break through the 23,200 level seen in October this year. We recommend focusing on three main themes: (1) benefiting from new policies, (2) low geopolitical sensitivity, and (3) actively expanding business overseas.”

Taiwan Market
We are optimistic that Taiwan’s stock market in 2025 will continue the bullish trend observed in 2023 and 2024. This optimism is primarily based on the steady global economic expansion and the AI arms race, which is expected to sustain strong momentum in technology stock earnings.

While we remain optimistic about the continuation of the bullish trend in Taiwan’s stock market in 2025, the annual gains may not surpass the impressive performances of the past two years. The current AI-driven surge has already resulted in a significant increase of over 90% for the TAIEX, with the forward price-to-earnings ratio reaching as high as 21 times. Compared to previous bull markets driven by technological paradigm shifts, the current gains and valuations are approaching historical peaks. Following a 28% increase in 2023, Taiwan’s stock market once reached a maximum gain of nearly 30% so far in 2024.

We expect Taiwan’s stock market in 2025 to generally follow a U-shaped trend, with a bullish bias in the first and fourth quarters and potential corrections in the second and third quarters.

James Chu, Chairman at KGI Securities Investment Advisory, says: “Under a scenario where the U.S. economy achieves a soft landing, interest rate cuts are expected to boost risk assets. This, combined with China’s economic stimulus measures and the steady trend of artificial intelligence, supports a bullish outlook for Taiwan’s stock market in 2025. The tech industry continues to thrive, primarily driven by AI, with Taiwan maintaining its leading position in the global semiconductor sector and a comprehensive AI supply chain, which is expected to drive significant earnings growth in 2025. However, following Taiwan’s stock market with a maximum gain of nearly 30% in 2023 and 2024, and with earnings growth projected to slow from 36% in 2024 to 18% in 2025, the potential for sustained index gains may be limited. Instead, the focus may shift to individual stock performance. Domestic investors have effectively countered foreign selling pressure in recent years, providing continued support against downside risks in 2025. Meanwhile, the Trump administration’s aggressive economic and trade policies could increase market volatility but also present strategic buying opportunities.”

Singapore Market
Looking ahead to 2025, significant changes are anticipated in the global macroeconomic landscape, with the U.S. expected to overhaul key policies related to international trade, foreign affairs, immigration, and more under Trump’s administration. Rising tensions among major economies are likely. However, Singapore, with its strategic position as a trade, logistics, and wealth hub, is well-positioned to navigate these shifts. Since the onset of the trade war in 2017, Singapore has leveraged its strengths and geographical advantages to achieve consistent growth. As we move into the coming year, Singapore is poised to face both new challenges and fresh opportunities. Chen Guangzhi, Head of Research at KGI Singapore, says: “We believe Singapore will capture growth opportunities amidst the backdrop of the new round of global trade tensions and ensuing rising geopolitical risks in 2025”

Indonesia Market
We are optimistic about 2025, targeting higher economic growth of 5.5%, which is above the 10-year average of 5.1%. This growth will be driven by increased consumption and investment, a rise in civil servant salaries, infrastructure development in the Nusantara Capital City (IKN), and downstream exports, contingent on robust global commodity prices. Yuganur Wijanarko, Senior Analyst at KGI Indonesia, says: “We maintain a positive outlook for 2025, and despite upcoming challenges, anticipate significant improvements in consumer confidence and domestic demand.”

DISCLAIMER
All the information contained in this document is not intended for use by persons or entities located in or residing in jurisdictions which restrict the distribution of this document by KGI Asia Limited (“KGI”), or any other affiliates of KGI. Such information shall not constitute investment advice, or an offer to sell, or an invitation, solicitation or recommendation to subscribe for or invest in any securities, insurance or other investment products or services nor a distribution of information for any such purpose in any jurisdiction. In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America, or to or for the benefit of United States persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof). All the information contained in this document is for general information and reference purpose only without taking into account of any particular investor’s objectives, financial situation or needs and may not be redistributed, reproduced or published (in whole or in part) by any means or for any purpose without the prior written consent of KGI. Such information is not intended to provide any legal, financial, tax or other professional advice and should not be relied upon in that regard.

All investments involve risks. The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.

Bond investment is NOT equivalent to a time deposit. It is NOT protected under the Hong Kong Deposit Protection Scheme. Bondholders are exposed to a variety of risks, including but not limited to: (i) Credit risk – The issuer is responsible for payment of interest and repayment of principal of bonds. If the issuer defaults, the holder of bonds may not be able to receive interest and get back the principal. It should also be noted that credit ratings assigned by credit rating agencies do not guarantee the creditworthiness of the issuer; (ii) Liquidity risk – some bonds may not have active secondary markets and it would be difficult or impossible for investors to sell the bond before its maturity; (iii) Interest rate risk – When the interest rate rises, the price of a fixed rate bond will normally drop, and vice versa. If you want to sell your bond before it matures, you may get less than your purchase price. Do not invest in bond unless you fully understand and are willing to assume the risks associated with it. Please seek independent advice if you are unsure.

You are advised to exercise caution and undertake your own independent review, and you should seek independent professional advice before making any investment decision. You should carefully consider whether investment is suitable in light of your own risk tolerance, financial situation, investment experience, investment objectives, investment horizon and investment knowledge.

No representation or warranty is given, whether express or implied, on the accuracy, adequacy or completeness of information provided herein. In all cases, anyone proposing to rely on or use the information contained herein should independently verify and check the accuracy, completeness, reliability and suitability of the information. Simulations, past and projected performance may not necessarily be indicative of future results.

Information including the figures stated herein may not necessarily have been independently verified, and such information should not be relied upon in making investment decisions. None of KGI, its affiliates or their respective directors, officers, employees and representatives will be liable for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered or incurred by any person or entity due to any omission, error, inaccuracy, incompleteness or otherwise, or any reliance on such information. Furthermore, none of KGI, its affiliates or their respective directors, officers, employees and representatives shall be liable for the content of information provided by or quoted from third parties.

Members of the KGI group and their affiliates may provide services to any companies and affiliates of such companies mentioned herein. Members of the KGI group, their affiliates and their directors, officers, employees and representatives may from time to time have a position in any securities mentioned herein.
Hashtag: #KGI #MarketOutlook

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

KGI

KGI is one of the region’s leading financial institutions since 1997. Our scope of business encompasses wealth management, brokerage, fixed income, and asset management. We are committed to offering a broad range of financial products and services to corporate, institutional, and individual clients throughout Asia. Backed by KGI Financial Group, we have a robust Asia footprint covering Taiwan, Hong Kong, Singapore, Indonesia, and Thailand.

Laos-China Railway Celebrates 3 Years: Over 43 Million Passengers

Laos-China Railway Celebrates 3 Years: Over 4.3 Million Passengers
Lao-China railway (Photo credit: Baolau)

On 3 December, the Laos-China Railway celebrated its third anniversary. 

Since its launch in 2021, the railway has transported 43 Million passengers, including over 740,000 passengers within Laos. It has also moved 4,830 tons of goods.

The Ministry of Information, Culture, and Tourism reported that 85 percent of passengers in Laos traveled between Vientiane Capital and Luang Prabang during this period. 

Over the three years since its opening, daily passenger numbers have increased significantly from 20,000 to around 100,000. The range of freight transported has also expanded from 10 categories to over 3,000, featuring Lao exports such as BeerLao, durian, cassava flour, mangoes, and other products bound for the Chinese market.

Between 2021 and 2024, the Laos-China Railway has seen significant growth in both sectors. 

In the first ten months of 2024, the railway transported 3 million passengers.

On the freight side, the railway transported 3.58 million tons of goods in the first eight months of 2024, a 22.8 percent increase compared to the same period in 2023. 

Citing statistics from Kunming Customs, the railway’s freight operations have also grown significantly over the past three years. 

By 2024, the railway had transported over 10.6 million tons of import and export goods, valued at more than 44 billion yuan (approximately USD 6.05 billion). In comparison, on 17 January 2022, Kunming Customs approved an international freight train carrying 59,500 tons of goods worth 1.068 billion yuan (approximately USD 147 million).

Hong Kong Design Centre’s New Landmark ‘DX design hub’ Holds Launching Party

Opens to the Public on December 4 Sparking Inspiration With a Line-up of Design Events


HONG KONG SAR – Media OutReach Newswire – 4 December 2024 – Hong Kong Design Centre’s (HKDC) new landmark, DX design hub (the Hub) successfully concluded its Launching Party today. The celebratory event was attended by guests comprising of top government officials, business leaders and Mainland and France delegations. The Cultural and Creative Industries Development Agency (CCIDA) of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision of the Hub while HKDC is responsible for operating the Hub.

4 OC group photo4

To ensure the success of the DX design hub launching party, all partners have played pivotal roles, including the Lead Sponsor, CCIDA; Venue Partner, Urban Renewal Authority; 5G Strategic Partner, Hutchison Telecommunications Hong Kong Holdings Limited; Media Partner, Timeout; Online Promotion Partner, Timable; and Strategic Lifestyle Media Partner, Trip.com Group.

Prof. Eric Yim, Chairman of HKDC shared: “The ‘D’ in DX design hub stands for design and diversified design disciplines, while ‘X’ signifies ‘multiply’ and ‘crossover’. The launch of DX design hub is an important milestone for Hong Kong Design Centre. We hope that through DX design hub, we can foster communications and collaborative partnerships across the various creative and design fields, as well as between the wider creative design industry and the business sector. This will enrich Hong Kong’s creative culture, and encourage problem-solving and decision-making through design thinking, thereby amplifying the power and ubiquity of design throughout our society. DX design hub will create a space for everyone to immerse themselves in design and creativity, and offer emerging designers and creative workers opportunities for development and showcasing their talents.”

Mr. Kevin Yeung Yun-hung, GBS, JP, Secretary for Culture, Sports and Tourism, shared: ‘We hope that DX design hub would become a creative anchor and tourist landmark in Hong Kong, bringing new vitality into the city’s design and fashion industries. With the release of Blueprint for Arts and Culture and Creative Industries Development from HKSAR government last weeke, stting a clear vision and direction for the future development of cultural arts and creative industries in Hong Kong, We look forward to Hong Kong Design Centre continuing to support the HKSAR government to promote the robust development and industrialisation of the creative sector, further enhancing the influence of Hong Kong’s design and fashion industries on the international stage, and consolidating Hong Kong’s role East-meets-West centre for international cultural exchange.’

Industry Associations and Sectors Join Hands to Foster Innovation and Exchange

At the launching event, HKDC is delighted to announce a momentous step towards enhanced industry collaborations through the DX design hub by signing the Memorandum of Understanding (MOU) with different industry associations and sectors, signifying a commitment to foster innovation, exchange, and development within the design community.

Among the signatories are distinguished organizations such as ECI Awards, Graphic Arts Association of Hong Kong, Golden Mouse Award, Guangzhou Baiyun District Guangzhou Design Capital Promotion Association, Guangzhou 4A Integrated Marketing Communication Committee, Hong Kong Architecture Centre, Hong Kong Association for VR AR, Hong Kong Chamber of Commerce in Shanghai, Hong Kong Fashion Designers Association, Hong Kong Furniture and Decoration Trade Association, International eXperience Design Committee, Royal Institute of British Architects (Hong Kong Chapter), The Professional Validation Council of Hong Kong Industries, Textile Council Of Hong Kong, and Trip.com Group, all of whom have also joined this collaboration.

A New Design Landmark in Sham Shui Po

As a hub for both design talents and general public, DX design hub shoulders the important task of inspiring design creativity. Its design and ethos honours the rich and multicultural heritage of the Sham Shui Po district as a traditional hotspot for clothing and textile wholesale and retail. It aims to inject positive momentum into the fashion and creative design industries by striving towards three main objectives: nurture emerging design talent and fashion designers in Hong Kong; leverage Sham Shui Po’s heritage to become a focal point for design and fashion both within the district and throughout the city; and further the development of tourism in Sham Shui Po.

Located at 280 Tung Chau Street, Sham Shui Po, the Hub spans five levels from the ground floor to the fourth floor and occupies a total area of 3,600 square meters. The fourth floor will serve as the headquarters for HKDC, while the ground floor to the second floor comprise the publicly accessible zones: The Square, The Fashion-Pop, The Gallery, The Box, The Design Museum, The Annex and The Steps. Designated zones on the third floor, including The Lounge, The Barn, and The Fashion Spotlight will function as a comprehensive resource centre for the design community. The wide-ranging facilities in the Hub will support a diverse programme of transdisciplinary design-related activities such as exhibitions, workshops and seminars. These facilities aim to make design more accessible to the public, facilitate communications and resource sharing within the design and creative sectors, and cultivate creative and collaborative opportunities for society at large.

Opening to the public on 4 December, the Hub will be kicking off numerous design-related programmes from the time being to next year. Its key programme, the ‘GBA Creative Fortnight‘, will take place from 3 to 16 December, a two-week long event dedicated to amplifying Hong Kong’s design prowess and sparking collaborations throughout the Guangdong-Hong Kong-Macao Greater Bay Area, with exhibitions, product showcases, fashion shows, design business matchmaking events, and a host of other engaging activities. Together with the opening of the Business of Design Week 2024 Summit on 4 December, alongside a series of design-related activities organized by the HKDC throughout December, a vibrant atmosphere of creativity and design will be brought to the city of Hong Kong.

Besides the GBA Creative Fortnight, other upcoming events taking place at the Hub include:

Permanent ExhibitionHong Kong Design Ecology

Date: Launching from 3 December 2024

An exhibition presents the unique, diverse, and vibrant facets of Sham Shui Po, co-created with artists, students, and community members

Fashion Exhibition: Takuma Fujisaki’s Mogols: Hong Kong Fashion Collaboration with FIP & DIP

Date: 7 December 2024 to 6 March 2025 ​

A collaborative exhibition between acclaimed Japanese pop culture artist Takuma Fujisaki’s beloved Mogol characters, and 12 FDIP local Hong Kong fashion designers.

Immersive Experience: Convergence

Date: 3 December 2024 – 28 February 2025

An exhibition offering visitors a visual journey into the hybrid design culture and design legacy of Hong Kong and Asia, where ‘Old meets New,’ ‘East meets West,’ and ‘Future influenced by legacy’.​

Design Exhibition: Design Pulse Asia

Date: 13 December 2024 to 30 June 2025

A half-year-long exhibition delves into the unique heritages, diverse trajectories, and cultural exchanges shaping Asia’s design landscape.

Creative Installation: BEing

Date3 December 2024 – 30 April 2025

The exhibition showcases the unique, diverse, and vibrant aspects of Sham Shui Po, emphasizing community participation by inviting artists, students, and residents to collaborate in the creation process.


Visitor Information

Opening Hours: Monday to Sunday: 10:00 – 19:00

Operating hours may vary for some venues due to special events. Please check with each venue for the most up-to-date information.

Location: DX design hub
280 Tung Chau Street, Sham Shui Po

Hashtag: #HongKongDesignCentre

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

About DX design hub

Operated by Hong Kong Design Centre, DX design hub in Sham Shui Po nurtures emerging design talents and fashion designers, fostering creativity and collaboration. Showcasing the synergy between design disciplines, it serves as a vibrant platform for community engagement and creative tourism. The Hub offers exhibition spaces, activity spaces, and a retail area for designers to gain hands-on experience. It functions as a central workstation for HKDC and design-related Associations, leading initiatives to promote fashion and diverse design projects. With a mission to inspire creativity and innovation, we aim to enable the Hub to become the creative anchor in Hong Kong with various specialized zones including The Square, The Fashion-Pop, The Box, The Gallery, The Design Museum, The Annex, The Steps, The Lounge, The Barn and The Fashion Spotlight.

The construction work of the Hub is undertaken by the Urban Renewal Authority (URA), ensuring a state-of-the-art facility that supports our vision. The Cultural and Creative Industries Development Agency of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision, guiding the Hub’s initiatives to align with industry needs and aspirations.

About Hong Kong Design Centre (www.hkdesigncentre.org)

Hong Kong Design Centre is a strategic partner of the Government of the Hong Kong Special Administrative Region in leveraging the city’s East-meets-West advantage to create value from design.

To achieve our goals we:

  • Cultivate a design culture
  • Bridge stakeholders to opportunities that unleash the value of design
  • Promote excellence in various design disciplines

About Cultural and Creative Industries Development Agency (www.ccidahk.gov.hk)

The Cultural and Creative Industries Development Agency (CCIDA) established in June 2024, formerly known as Create Hong Kong (CreateHK), is a dedicated office set up by the Government of the Hong Kong Special Administrative Region (HKSAR Government) under the Culture, Sports and Tourism Bureau to provide one-stop services and support to the cultural and creative industries with a mission to foster a conducive environment in Hong Kong to facilitate the development of arts, culture and creative sectors as industries. Its strategic foci are nurturing talent and facilitating startups, exploring markets, promoting cross-sectoral and cross-genre collaboration, promoting the development of arts, culture and creative sectors as industries under the industry-oriented principle, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community to implement Hong Kong’s positioning as the East meets-West centre for international cultural exchange under the National 14th Five-Year Plan.

Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to some of HKDC’s activities/projects only, and does not otherwise take part in such funded activities/projects. Any opinions, findings, conclusions or recommendations expressed in this publication and relevant materials/events (or by members of the project teams) are those of HKDC only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.

IMDA Refreshes Skills Framework for Media and Continues to Support Virtual Production Capabilities and Training


Developed in consultation with industry, refreshed Skills Framework for Media introduces new technical skills and competencies for emerging technologies like virtual production and generative artificial intelligence.
New company-led apprenticeship programme with media companies to expand job and training opportunities in the industry
28 Virtual Production projects supported, and 650 media professionals trained to date under the Virtual Production Innovation fund

SINGAPORE – Media OutReach Newswire – 4 December 2024 – The Infocomm Media Development Authority (IMDA) has worked closely with the media industry to introduce a refresh to the Skills Framework for Media, which will provide up-to-date sector information, job roles and existing and emerging skills for media practitioner, in new tech areas such as Virtual Production (VP) and Generative Artificial Intelligence (GenAI). To provide locals with more job and training opportunities in new tech areas, another new initiative is the company-led apprenticeship programme with media companies.

2. IMDA has been advancing VP applications in Singapore’s media industry since 2023. To date, there have been 28 VP content projects, and 650 media professionals trained in VP through these content projects and workshops, supported by the S$30 million VP Innovation Fund announced last year. These updates were made by Singapore’s Senior Minister of State for Digital Development and Information (MDDI) & Ministry of National Development (MND), Mr Tan Kiat How at the opening of the Asia TV Forum and Market (ATF) today, an event of the Singapore Media Festival (SMF). Hosted by IMDA, the SMF celebrates its 11th edition with the theme “Make It Here“, inspiring the region’s media community to create, connect, and realise their visions.

Refreshed Guide for the Future of Media Careers
3. As Singapore’s media market expands, employment opportunities are also on the rise. There were 24,960 media professionals employed across the economy in 2023, reflecting a compound annual growth rate of 7% since 2018[1]. The refreshed Skills Framework for Media provides a comprehensive roadmap for these media professionals, charting the future of media careers and talent development. This framework was developed by IMDA in partnership with SkillsFuture Singapore (SSG), industry associations like the Singapore Association of Motion Picture Professionals, Institutions of Higher Learning (IHLs), after extensive consultation with around 150 media representatives across industry, training providers, IHLs and freelancers. This ensures the framework meets the needs of a dynamic media landscape.

4. The refreshed Skills Framework identifies 195 job roles across 9 tracks, with 230 technical skills and competencies in existing and emerging skills in Media like VP, GenAI, content production, production technical services, and more. Media practitioners can use the Skills Framework to upskill and remain relevant in today’s media landscape, while employers and training providers can tap on it to structure learning and training opportunities. The framework was first launched in 2018 jointly by IMDA, SSG, Workforce Singapore (WSG) and in consultation with Singapore’s media industry.

5. IMDA will also offer more company-led on-the-job training opportunities through apprenticeships with media companies in line with the new skills added into the refreshed framework including VP. This is a new initiative and, as a start, IMDA will partner seven media companies to offer over 70 apprenticeship opportunities across content production, business management and technical roles that will further deepen practical skills development and ensuring talent is industry ready.

6. In his opening speech, SMS Tan Kiat How said, “The Asia TV Forum and Market and the Singapore Media Festival are platforms for networking and collaborations. As Asia’s entertainment content industry grows, Singapore will be your partner to tell our stories to the world, and for the world to find discover the talents and gems in Asia. Today, we are taking an important step to do so by investing in the future of media – our media professionals so that they are equipped with the right skills, technology, and platforms to excel in this dynamic industry.”

New Virtual Production Projects and Talent Supported
7. The use of VP in Singapore’s media industry continues to progress with the launch of three full-scale VP studios that can support international projects developed with VP technology. These are Aux Infinite Studios, Oceanus Media Global and X3D Studio and they are also providing VP training. Next year, media professionals can look forward to specialised training opportunities for job roles such as VP supervisors from local and overseas VP experts.

8. There have also been 28 VP content projects which leveraged VP technology to open creative possibilities and overcome physical limitations. For example, film director Ian Wee from Reelisations Pte Ltd tapped on VP in his latest content project “Time Apart”, to execute challenging time lapse sequences across different time periods. Ian was a participant of the National Film and Television School (NFTS) Certificate in Virtual Production course in April 2023. Another example, Glenn Chan from Sonder Films used 3D scanning technology to develop and integrate 3D CGI characters into virtual environments for his short-form VP project “The Old World”. Glenn was a participant of the Aux-XON SG x Korea VP Masterclass conducted earlier this year.

9. For more details on the Singapore Media Festival and the Asia TV Forum and Market please visit www.imda.gov.sg/smf. To read the latest Skills Framework for Media, visit https://www.imda.gov.sg/how-we-can-help/media-manpower-plan/skills-framework-for-media-sfw-for-media.

Hashtag: #SGMediaFest



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

About the Singapore Media Festival

The Singapore Media Festival, hosted by the Infocomm Media Development Authority (IMDA), proudly returns for its 11th edition as one of Asia’s premier international media industry platforms. From 28 November to 8 December 2024, Singapore will be the focal point for Asia’s media community, showcasing diverse media innovations, forging industry deals, and presenting Singapore’s world-class content. This year’s festival, themed “Make It Here,” aims to inspire the region’s media talent to create, connect, and realise their visions. The event will bring together media professionals, industry leaders, creators, and consumers through the Singapore International Film Festival (SGIFF), Asia TV Forum & Market (ATF), Singapore Comic Con (SGCC), and Nas Summit Asia (NAS).

For more information, please visit: .

About Asia TV Forum & Market (ATF) 2024

3 December 2024: The ATF Leaders Dialogue

4 – 6 December 2024: Market & Conference

Into its 25th edition, – the region’s co-production & entertainment content market and conference – is the proven industry platform to acquire knowledge, network, buy, sell, finance, distribute and co-produce across all platforms. It is the premier stage in Asia to engage with the entertainment industry’s top players from around the world. It’s where the best minds meet, and the future of Asia’s content is shaped.

For more information, please visit www.asiatvforum.com

About Infocomm Media Development Authority

The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation by developing a vibrant digital economy and an inclusive digital society. As Architects of Singapore’s Digital Future, we foster growth in Infocomm Technology and Media sectors in concert with progressive regulations, harnessing frontier technologies, and developing local talent and digital infrastructure ecosystems to establish Singapore as a digital metropolis.

For more news and information, visit or follow IMDA on LinkedIn (IMDAsg) and Instagram (@imdasg).