28 C
Vientiane
Friday, June 27, 2025
spot_img
Home Blog Page 1168

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).

Laos to Enforce Graphic Health Warnings on Cigarette Packs

Laos to Enforce Graphic Health Warnings on Cigarette Packs
Samples of the newly adopted graphic health warnings on cigarette packs (Photo credit: Centre of Information and Education for Health)

Laos is set to implement redesigned cigarette packs featuring large graphic health warnings to reduce smoking rates and deter tobacco use, becoming the third ASEAN country to adopt such measures, following Thailand and Singapore.

TCMA joins COP29 with progress of ‘SARABURI SANDBOX’ attracting green funding to support Thailand’s Net Zero 2050

TCMA showcases one-year progress of the ‘SARABURI SANDBOX’ at COP29, uniting local and global stakeholders to accelerate the joint actions, combining ‘policy-technology-funding-governance’ to increase Thailand opportunities to access green funding towards Net Zero 2050


BANGKOK, THAILAND – Media OutReach Newswire – 4 December 2024 – Dr. Chana Poomee, Chairman of Thai Cement Manufacturers Association (TCMA), revealed that TCMA has been participating in COP for the third consecutive year, including COP29 hosted by the Republic of Azerbaijan from November 11–22, 2024, in Baku. The conference revolved around the theme In Solidarity for a Green World. Thailand, represented by the Ministry of Natural Resources and Environment, showcased its achievements at the Thailand Pavilion, covering key areas: climate policy, climate technology, climate action, and climate finance.

BUG 5679

At COP29, TCMA, in collaboration with Department of Climate Change and Environment (DCCE), Global Cement and Concrete Association (GCCA), and UNIDO, presented lessons learned from the innovation ecosystem within the ‘SARABURI SANDBOX.’ Highlighting its one-year progress, TCMA conducted the seminar ‘SARABURI SANDBOX: Leading Thailand’s Pathway to a Low-Carbon City’ at the Thailand Pavilion and the GCCA Pavilion, demonstrating its pivotal role in transitioning Thailand’s industrial sector to a competitive and sustainable low-carbon economy.

Over the past year, the ‘SARABURI SANDBOX’ has achieved significant milestones through a Public-Private-People Partnership (PPP) thanks to the cooperation between TCMA and Saraburi Province led by the Governor of Saraburi, and domestic and international agencies. Some key successes include: 1) over 80% of construction projects in Saraburi now using hydraulic cement 2) the cement industry increasing its use of alternative fuels and renewable energy to 26% 3) a pilot project for cultivating energy crops, such as Napier grass, as alternative fuels for the cement industry 4) the installation of a solar carport with a renewable energy system at Saraburi City Hall 5) community waste management initiatives led by local administrative organizations, and 6) community forest projects to expand green areas across 38 locations.

The project has also attracted international collaboration. Princeton University has studied the province’s renewable energy potential to inform future implementation plans while GCCA facilitates global knowledge sharing and policy alignment to drive more projects in different aspects. These efforts are integral to implementing the Thailand 2050 Net Zero Cement and Concrete Roadmap and securing green funding for action-oriented projects.

“Having a clear plan, multi-sector cooperation and the right partnerships together with the vision of international organizations and commitment to reducing carbon of national organizations as well as actionable initiatives of local industries, is the important element to drive the change” said Mr. Thomas Guillot, Chief Executive of GCCA. “Thanks TCMA for their dedication, by what TCMA and members of Thai cement producers do is very incredible and important and can be inspire the other countries. The ‘SARABURI SANDBOX’ demonstrates TCMA’s astonishing pioneering role, and GCCA is proud to support these efforts with clear targets. UNIDO has further strengthened the initiative by connecting TCMA with essential funding sources.”

Dr. Chana, TCMA Chairman emphasized the urgency of accelerated action. “Currently, SARABURI SANDBOX can be seen the promising progress but global peers are also advancing rapidly. Thailand must to accelerate multilateral collaboration from all sectors. Harmonizing the government policies, eliminate regulatory barriers in transitioning to low-carbon economy, implementing low-carbon projects by private sector, involving of local communities, together with international organizations support both low carbon technology and green funding will be key to Thailand’s ability to drive a sustainable and competitive low-carbon transition.”
Hashtag: #TCMA #ThaiCementManufacturersAssociation

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

Zurich Resilience Solutions and GoImpact Capital Partners forge strategic alliance to bolster climate resilience across Asia Pacific


HONG KONG SAR – Media OutReach Newswire – 4 December 2024 – Zurich Resilience Solutions (“ZRS”), the commercial risk advisory and services unit of Zurich Insurance Group (Zurich), and GoImpact Capital Partners (“GoImpact”) are pleased to announce a strategic alliance aimed at empowering businesses in Asia Pacific to address the growing challenges of climate change.

This collaboration integrates ZRS’ advanced physical climate risk analysis, proprietary climate and financial loss data, and specialized tools with GoImpact’s sustainability education expertise, delivering a comprehensive solution to help businesses identify, assess, and adapt to climate risks.

Enhancing climate resilience with ready-to-go solutions

The partnership offers a ready-to-go suite of solutions that address the urgent need for actionable climate adaptation strategies. Businesses can benefit from:

  • Data-driven climate risk assessments: ZRS’ proprietary tools to evaluate exposures to physical climate risks like extreme weather and supply chain disruptions.
  • Climate resilience guidance and training: Support for organisations to build resilience in their assets, operations, and people.
  • ESG knowledge upskilling: GoImpact’s structured sustainability learning programmes to keep companies informed about market trends and regulatory requirements.
  • Regulatory reporting support: Assistance in meeting disclosure and reporting requirements related to physical climate risks.

By combining ZRS’ technical expertise with GoImpact’s practical learning resources, the alliance delivers a robust toolkit for businesses to enhance resilience and seize opportunities in the sustainability landscape.

Driving climate resilience and sustainability in business

Initially targeting businesses in Hong Kong, Singapore, and Malaysia, the strategic alliance aims to address key climate risks such as extreme weather events, supply chain disruptions, and operational vulnerabilities. Leveraging ZRS’ deep knowledge in climate resilience and GoImpact’s strong regional presence in sustainability advocacy, the alliance is well-positioned to empower companies to implement effective climate adaptation solutions.

Commenting on the partnership, Dr Amar Rahman, Global Head Climate & Sustainability Solutions, Zurich Resilience Solutions said: “Zurich Resilience Solutions’ partnership with GoImpact highlights the critical role of education in fostering climate resilience. The appetite for implementing effective solutions hinges on understanding the challenges at hand and the potential impact of inaction on business operations.”

“Through this collaboration, we aim to elevate awareness and empower public and private sector entities to take meaningful steps toward sustainability, developing solutions that protect their operations and strengthen their resilience against climate change.”

With better knowledge of the latest ESG trends, organizations can be better positioned to take advantage of market conditions and build a sustainable future for themselves and increase the resilience of the communities in which they operate.

“We are excited about this timely partnership between Zurich Resilience Solutions and GoImpact. Our combined strengths are complementary and form a holistic toolkit of offering on risk assessment, learning and advocacy that bridges a significant market gap, for large corporations and small medium enterprises alike,” said Helene Li, CEO and Co-Founder of GoImpact.
Hashtag: #ZurichResilienceSolutions

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

Zurich Resilience Solutions

, the risk advisory business of Zurich Insurance Group, leverages 150 years of industry experience and 75 years of risk engineering expertise to address the risk management needs of both existing and new customers. The unit offers specialized insights, tools, and solutions to help businesses tackle traditional and evolving risks, such as climate change and cybersecurity.

As a global entity, Zurich Resilience Solutions has over 950 risk experts stationed in 40 countries, bringing local expertise and industry specializations to clients worldwide. Its capabilities and solutions are available to any organization seeking a proactive approach to risk management and long-term resilience.

GoImpact Capital Partners

Bridging the great divide between the talk and action, accelerating the Sustainable Development agenda from intention to implementation – GoImpact means impact made easy and actionable.

GoImpact has established significant market footprint on its mission to drive the sustainability agenda forward, bridging the knowledge gap between talk and action. We offer the best ESG learning experience in the market, providing case-based, experiential learning courses which are crafted and delivered by a group of world-class experts in sustainable finance and ESG.

Through its partners network across Asia Pacific which includes regulators, financial institutions and large corporations, delivering online-to-offline initiatives, GoImpact connects stakeholders across sectors and provide learning and advocacy opportunities to drive real change by example for everyone who is keen to understand more about the full spectrum of Sustainability and Resilience agenda.

Prince Foundation Amplifies Mine Action Message at Landmark Siem Reap Summit


SIEM REAP, CAMBODIA – Media OutReach Newswire – 4 December 2024 – Prince Foundation, the philanthropic arm of Prince Holding Group, proudly supported the ASEAN Regional Mine Action Center (ARMAC) during the recently concluded Siem Reap-Angkor Summit on a Mine-Free World. The Foundation provided strategic communications expertise and exhibition design that highlighted ARMAC’s innovative victim assistance programs and technological initiatives, engaging over 700 delegates from more than 100 nations.

Prince Foundation supports ARMAC during the Siem Reap-Angkor Mine-Free World Summit.
Prince Foundation supports ARMAC during the Siem Reap-Angkor Mine-Free World Summit.

As part of its contribution to the Fifth Review Conference, Prince Foundation designed ARMAC’s exhibition booth, which was widely praised as the “best in show” by attending delegates. The campaign also resulted in a notable boost to ARMAC’s social media presence, with over 150 new followers and increased engagement across its platforms over the course of the five-day summit, reflecting growing interest and support for its initiatives.

The immersive display effectively conveyed ARMAC’s mission through visually striking elements, compelling storytelling, and innovative presentations of key initiatives, including the groundbreaking SAFE (Saving All From EO) chatbot.

Prince Foundation also worked closely with ARMAC leadership to craft strategic messaging that spotlighted the organization’s victim assistance programs, particularly the ASEAN Regional Victim Assistance Network (VAN), which provides comprehensive care for survivors of explosive ordnance and their families.

“Our role was to ensure ARMAC’s vital work received the attention it deserves,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group and Head of Prince Foundation. “Through strategic communications and innovative exhibition design, we have helped amplify ARMAC’s message of hope and action to a global audience.”

Creating Impact Through Strategic Communications

The Foundation’s communications strategy highlighted ARMAC’s technological innovations, including the SAFE chatbot, an artificial intelligence-powered platform that delivers critical safety information to at-risk communities through accessible messaging systems.

“Prince Foundation’s strategic communications expertise has been instrumental in helping us convey the urgency and importance of our mission,” said Rothna Buth, Executive Director of ARMAC. “Their innovative approach to exhibition design and messaging strategy enabled us to effectively showcase our work, particularly in victim assistance and technological solutions, to a global audience.”

“By crafting compelling narratives around ARMAC’s initiatives, we’re fostering broader understanding and support for mine action efforts,” Tan added. “Our goal was to make complex technical information accessible and engaging for all attendees through our exhibition design and communications strategy.”

Comprehensive Communications Support

Prince Foundation’s contributions to ARMAC’s success at the summit included:

  • Design and Execution: Development of ARMAC’s flagship exhibition booth, ensuring a captivating and interactive experience for delegates.
  • Strategic Messaging: Creation of key communications materials that effectively conveyed ARMAC’s mission and initiatives.
  • Multimedia Content: Production of dynamic content showcasing ARMAC’s programs, including the SAFE chatbot and the VAN network.

Through its partnership with ARMAC, Prince Foundation has played a key role in advancing mine action efforts by delivering effective communications support and promoting collaboration among key stakeholders. By amplifying ARMAC’s initiatives and raising awareness of critical programs, the Foundation is contributing to tangible progress toward the shared goal of a mine-free world. This collaboration reflects Prince Foundation’s ongoing commitment to building safer communities and driving meaningful change in Cambodia and across the ASEAN region.Hashtag: #PrinceFoundation #ARMAC #PrinceHoldingGroup

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

About Prince Foundation

Prince Foundation, founded in 2015, is one of Cambodia’s leading philanthropic foundations. A member of Prince Holding Group, which is one of the largest business groups in Cambodia, the Foundation aims to work with local communities to build thriving living and working environments that elevate people’s well-being and livelihoods, following the vision: “Together, Building a Better Future for Cambodia.”

Focusing on education and youth development, healthcare, and community engagement and sports, and healthcare initiatives, Prince Foundation works with partners to deliver sustainable programs that enhance opportunities for Cambodia’s youths, build resilience in communities, and contribute to sustainable infrastructure.

The Foundation’s flagship projects are the Chen Zhi Scholarship, offering full scholarships, stipends, internships, and work opportunities to 400 Cambodian university students over a period of seven years, and Prince Horology, where aspiring Cambodian watchmakers learn the art of Swiss-style watchmaking in a state-of-the-art facility. Prince Foundation has launched more than 250 philanthropic initiatives, benefiting over 1.3 million people, with donations exceeding US$16 million