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KPMG proposes Budget 2023 measures to drive Singapore’s green and inclusive growth towards lasting paths for businesses

  • Green finance will be key to powering Singapore’s sustainability – spurring blended finance and transition finance ecosystems will be instrumental in intensifying green investments
  • Forging a fit-for-future ‘Forward Singapore’ social compact and catalysing capital to create new opportunities for enterprises and talents will be critical
  • In view of a potential economic slowdown, support measures for businesses to digitalise, transform, and embed ESG will need to be expanded

SINGAPORE – Media OutReach – 12 January 2023 – KPMG today announced its Singapore Budget 2023 Proposal for the Government, covering the three focus areas of: (i) Sustainability; (ii) Talent; and (iii) Digitalisation and transformation. Highlights are summarised below.

(1) Powering Sustainability (p. 4 of proposal)

(a) Implement a National Blended Finance Framework to spur green financing (p.6)

Singapore has taken steps on its climate commitments through its Singapore Green Plan and its recent appointment of a Government Chief Sustainability Officer. The key challenge ahead, particularly with economic headwinds expected worldwide, will be in financing the green agenda.

A strategy KPMG recommends is for the Government to implement a national framework to spur the growth of blended finance to address the trilemma of security, affordability, and sustainability. This framework can include broad-based schemes with low entry thresholds and targeted initiatives for emissions-intensive industries or transition projects.

Ong Pang Thye, Managing Partner, KPMG in Singapore said:

“A national blended finance framework can be pivotal for sustainable change to happen at-scale nationally and regionally. Countries and companies in the region are also keeping sustainable development on top of their agendas. However, securing funding can be challenging with individual countries facing ongoing economic headwinds, while dealing with domestic developments and priorities.

“As part of this framework, the Government could encourage financial institutions (FIs) to step up their involvement in the climate transition (through incentives) – this can involve FIs redirecting the necessary capital to areas with the highest needs. At the same time, authorities can also extend access to Singapore’s Sustainable Bond Grant Scheme to a wider audience of issuers that need financing for green projects. The successful implementation of such a blended finance framework in the longer term will position Singapore as a leading green finance hub to anchor ASEAN’s green and just energy transition.”

(b) Spearhead asset recycling mechanisms and alternate funding options (p.10)

Ajay Kumar Sanganeria, Partner, Head of Tax, KPMG in Singapore added:

“Singapore can lead the development and implementation of asset recycling frameworks to refinance brownfield infrastructure, while achieving Singapore and ASEAN’s broader Environmental, Social and Governance (ESG) objectives. These mechanisms will optimise private sector innovation, investment and efficiency in operating infrastructure assets, while freeing up capital that can be deployed to other priority greenfield infrastructure projects. An Energy Transition Mechanism involving early retirement of coal-fired power projects is one area with high potential and impact.”

(c) Intensify green investments (p.11)

To tap the potential of green bonds in energy transition, KPMG proposes to set frameworks for analysing a project’s qualification for green investments, including introducing a green credit scoring system with new environment and energy factors. As renewable energy technologies begin to mature in this decade, investments into green infrastructure projects and research and development (R&D) capabilities will be critical. The Government can consider pumping investments into large-scale alternative energy projects in ASEAN countries under a “generate and transfer model” to accelerate the nearshore import of renewable energy and decarbonise the grid at a quicker pace.

Other measures to further drive the decarbonisation agenda include:

  • Working with industry bodies to boost support for FIs, such as setting up a new subset of qualifying activities under the Financial Sector Incentive scheme which provides for concessionary tax rates, enhanced deductions or cash grant schemes
  • Extending consumer tax incentives, such as the EV Early Adoption Incentive and the Vehicular Emissions Scheme to further bridge price differentials between electric vehicles and internal combustion engine vehicles (p.14)
  • Incentives to bridge the green building demand-supply gap, including a 200 percent tax deduction on financing costs and rental of green properties, a 30 percent property tax rebate and a 50 percent exemption on taxable gains from green building sales. (p.13)

2. Opening Doors to Opportunity (p. 15 of proposal)

(a) Attract top talents to augment Singapore’s economy amid a talent war (p.18)

With a global war for talent and an ever-evolving business landscape, Singapore must continue to attract the best minds to its shore, while ensuring that policies to facilitate new ways of working remain robust. At the same time, these new challenges have prompted Singapore’s leaders to refresh the country’s social compact and foster renewed resilience, led by its Forward Singapore roadmap.

Ajay Kumar Sanganeria, Partner, Head of Tax, KPMG in Singapore, said:

“To be a global leader in attracting and retaining talent, Singapore should extend the tax exemption days for foreign employees working in priority sectors of the economy to 90 days. This will attract talents who may not wish to relocate but are still eager to be based in Singapore on a short-term basis.”

(b) Strengthen hybrid and remote working regime (p.18, 19)

As more Singapore businesses leverage talents overseas to grow, Singapore is likely to benefit from the higher corporate tax revenue generated. In step with this, Singapore should initiate at least an ASEAN-wide framework to address tax issues that may arise for Singapore companies with remote workers in another country. Potential challenges to be addressed under the framework include the creation of a Permanent Establishment in an overseas jurisdiction and the taxing rights over the salaries and related remuneration of remote workers.

Ajay Kumar Sanganeria, Partner, Head of Tax, KPMG in Singapore, said:

“Companies are building a future-forward workforce, where hybrid or remote work is now a long-term option for many. However, safeguards against income tax leakages need to be strengthened. This means reviewing underlying policies and setting the relevant guidelines for remote-working employees based in Singapore, to provide more clarity to foreign employers and employees.

(c) Catalyse private and public capital to build Singapore’s social compact (p.22)

Singapore has been reviewing its tax system to boost revenue generation potential, but any enhancements should be carefully considered in terms of rate and scope to remain fair and progressive. Alongside this, KPMG recommends for the Government to catalyse private and public capital for social spending through innovative blended finance structures and social bonds – as already seen in several Asia Pacific countries. Early-stage grants to support the design of social bonds as well as partial guarantees to bond holders to lower investment risks and bring in private investors should be explored. Additionally, platforms such as social stock exchanges can also attract new investment.

3. Strength in Adversity (p. 23 of proposal)

Singapore will need to demonstrate how it can bolster its fiscal resources while protecting prospects for growth as it enters challenging times. To stay ahead, the country should also step up its support for businesses to digitalise, transform and seize new markets.

(a) Decisive measures for Singapore to remain attractive to multinational corporations (MNCs) (p.25)

Ajay Kumar Sanganeria, Partner, Head of Tax, KPMG in Singapore, said:

“In the coming months, policymakers in Singapore will need to move more decisively to restructure its incentives to attract and retain investments from MNCs impacted by global tax developments that will gain momentum in 2023.

“KPMG proposes that a percentage of collections from Pillar Two measures be channelled into a pool of funds that would be used to attract and retain investments not just from global MNCs, but also local MNCs affected by the rules. This pool of funds can provide flexibility to economic agencies to provide targeted programmes to both global and local multinationals.

“There can also be an increase in the number of expenditure-based tax incentives (offered in the form of Qualified Refundable Tax Credits rather than enhanced tax deductions). These can take the form of expanding the list of intellectual property categories that can qualify for writing down allowances. Existing R&D tax incentives should also be redesigned to a Qualified Refundable Tax Credit scheme so that there will be minimal impact under the rules, alongside the increase in grant caps of existing programmes.”

(b) Boost Singapore’s digital asset ecosystems (p.29)

KPMG’s research has shown promising use cases and innovation of digital assets, including non-fungible tokens (NFTs) and Decentralised Finance (DeFi), to boost digital connectivity and economic integration. Singapore should carefully study the changing landscape and look at providing certainty on the regulatory and tax treatments of these new investment products to strengthen its digital asset ecosystems. To further fuel growth, Singapore should also promote the use of digital accelerators or hackathons that allow industry advisory boards to guide and sponsor fintechs to solve industry-wide problems.

(c) Targeted grants for GST-registered businesses (p.27)

Some businesses are likely to be impacted by the staggered Goods & Services Tax (GST) hike over the next two years, with top concerns on compliance costs. The Government can offer grants to specific businesses, such as small and medium enterprises (SMEs) which are more concerned about the cost of complying with the two-step GST rate hike.

(d) Provide certainty on new wealth taxes (p.27)

Ongoing speculations on whether Singapore will see new forms of wealth taxes have led to market uncertainty, in particular for the wealth management sector and high-net-worth individuals contemplating if they should move their assets here. The Government should clarify if it will be introducing wealth taxes in the near future, and what this might mean for the country.

Ajay Kumar Sanganeria, Partner, Head of Tax, KPMG in Singapore, said:

“Singapore has been raising the progressivity of its tax policies in a calibrated manner. However, the market continues to have concerns over the possibility of a new wealth tax or a reintroduction of estate duty or inheritance tax. Budget 2023 will need to be decisive in addressing these speculations.”

(e) Tax rebates and incentives to cope with rising costs

Amid concerns over inflation and rising costs, enterprises will benefit from support as they strive to be more innovative and future ready. We recommend the following measures:

  • A one-off 10 percent corporate income tax rebate and an increase in the number of installments that companies can take to pay their income tax liabilities (p.32)
  • Expand coverage of the enhanced R&D tax deduction to include costs incurred for overseas R&D activities, beyond its current scope of activities performed in Singapore only (p.32)
  • Help businesses invest in the local talent pool with an additional 100 percent deduction on training expenses, with similar conditions to the Productivity and Innovation Credit (PIC) scheme for qualifying training expenditure (p.32)
  • Increase Enterprise Development Grant support for overseas mergers & acquisition activities to up to 90 percent for SMEs and up to 70 percent for non-SMEs for an initial period of two years to drive internalisation efforts (p.31)
  • Up to 80 percent of funding support under the Productivity Solutions Grant for companies to adopt advanced manufacturing solutions, along with a two-year extension of the 100 percent investment allowance to encourage the sector to shift towards automation. (p.31)


(f) Enable businesses to transform supply chains and embed ESG
(p.30)

Ong Pang Thye, Managing Partner, KPMG in Singapore, said:

“Beyond economic factors, Singapore has also had to contend with climate change. However, even as carbon markets are set to expand significantly, carbon trading is not a long-term solution to reducing carbon emissions. Ultimately, large emitters will need to adopt greener and more cost-efficient solutions and the Government has a critical role in driving a mindset change.”

That said, in response to supply chain disruptions and the push towards ESG, more companies are looking to invest in digital transformation to be more efficient and sustainable, and could benefit from these measures:

  • Enhanced deductibility of expenses incurred on supply chain digitalisation and transformation
  • Special taxation regime and/or financing for companies involved in investment, development and trade of renewable energy, hydrogen and carbon credits.

A copy of our Budget 2023 proposal is available for download at this link.

Hashtag: #KPMG

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

About KPMG

KPMG in Singapore is part of a global organization of independent professional services firms providing Audit, Tax and Advisory services. We 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. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

For more information, visit
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Xayaboury’s Elephant Festival to be Held in February

The 14th Elephant Festival in 2020.

Xayaboury Province will hold its annual Elephant Festival next month after being suspended for three years owing to the Covid-19 outbreak in the country.

Melco Style Presents “Chinese New Year’s Concert 2023 with Guan Zhe” Exclusively at Studio City

MACAU – Media OutReach – 12 January 2023 – Melco Style is ringing in the Lunar New Year of the Rabbit with endless entertainment experiences for Macau residents and visiting guests. Melco Style proudly presents “Chinese New Year’s Concert 2023 with Guan Zhe” will be held on January 27 at 7:30pm at Studio City Event Center (SCEC).

Chinese pop singer Guan Zhe will be performing his first ever solo concert in Macau to welcome in luck and prosperity into the new year with his popular hits including “Miss You Tonight”, which was composed, arranged, and written by him; the song has been played nearly 900 million times on various media platforms in Mainland China and received nearly 100 million views worldwide on YouTube. Other hits include “Settle Down”, “I’m Still Loving You”, “Well Enough” and “Macau Welcomes You”, a song specially written to celebrate the 19th Handover Anniversary and his love for Macau. Guan will also be performing many classics from “The Voice of China”.

“I am very excited and looking forward to having my very first show at SCEC during the Lunar New Year. It will be a great night as I will be sharing many classics that have been rearranged by me and my team with the Macau audience and all my fans to thank their love and support.” Guan said.

Studio-City-Exterior.jpg
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Tickets are available tomorrow at 12pm with prices starting from MOP488. From now until January 27, “Melco Style” WeChat members may enjoy exclusive privilege of one Complimentary ticket when spending MOP4,000 or more at the retail shops or restaurants. This is the one show not to be missed! Get your tickets now while they last.

Ticket Category Ticket Price (MOP):
VIP $3,888
A Reserve $2,388
B Reserve $1,388
C Reserve $688
D Reserve $488

For more ticketing information, please visit:www.studiocity-macau.com/en

*Terms and Conditions apply

Hashtag: #MelcoStyle

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

NEXEA and Digital News Asia (DNA) To Organize DisruptInvest Summit

SELANGOR, MALAYSIA – Media OutReach – 12 January 2023 – NEXEA and Digital News Asia (DNA) will host the DisruptInvest Summit, a startup ecosystem event for corporates and investors, taking place on March 16th. This summit brings together some of the most successful and innovative minds in the business world to share their insights and experiences with attendees.

DisruptInvest Summit is the premier event for corporates and investors looking to take their businesses to the next level. It aims to connect Corporates and Investors, as well as the Startup Ecosystem – Startup members, Government Agencies, Venture Capital & Media to support & grow the next tech giants. This event is designed for corporates and investors together with entrepreneurs, innovators, and business professionals from the entire Malaysia to network, learn, and grow.

“DisruptInvest Summit is Malaysia’s largest tech entrepreneurship conference, offering attendees a unique opportunity to learn from the best in the industry and build valuable relationships with industry professionals and innovators. I believe it will be an excellent opportunity for learning, networking, and growing in order to take business to the next level,” said Ziwei, co-founder of Zcova.

“DisruptInvest Summit brings together some of the top players in the startup world, including corporates and investors, providing valuable insights into the startup ecosystem’s current state. This will be an inspiring programme full of creativity and enthusiasm for the future of entrepreneurship, as well as a great opportunity to network with others in the industry,” said Kyan, co-founder of ParkIn.

NEXEA is pleased to announce a strategic partnership with Digital News Asia (DNA) for the upcoming event. This partnership will bring together the strengths and resources of both organizations, allowing for the creation in connecting and opportunities of the tech industry. In addition to DNA, several leading corporates will also be supporting the event.

“DisruptInvest Summit is the best place for corporates and investors to collaborate with Malaysia’s startup ecosystem, bringing entrepreneurs together to learn new ideas and explore opportunities for collaboration. This is a lively and exciting event for corporates and investors to participate in and collaborate with Malaysia’s startup ecosystem,” said Jo-Ann, Special Assistant to Group CEO of Spritzer.

“DisruptInvest Summit connect the brightest corporations and investors with unparalleled networking opportunities and chances to meet and interact with the most innovative and driven individuals in the startup ecosystem. I believe it is an opportunity to learn and be inspired by these corporates and investors, and make a valuable connections and innovation,” said Ben Lim, Managing Director of NEXEA.

“DisruptInvest Summit is an outstanding hub for collaboration for corporates and investors to meet entrepreneurs where these groups can come together and connect to make a valuable connection. This is a great opportunity to foster collaboration and partnership with some of the most experienced and successful professionals in the tech industry,” said Alan Lim, President of MBAN.

DisruptInvest Summit will feature panel discussion, speeches by experienced entrepreneurs, networking sessions on a range of topics, including business development, strategies investors, corporate innovation, government initiatives, and more. Attendees will have the opportunity to hear from successful corporates, investors, and industry experts, as well as connect with potential partners, corporates, and investors.

For More Information: DisruptInvest Summit

Hashtag: #NEXEA #DNA #DisruptInvestSummit

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

About NEXEA

NEXEA is a Malaysian Venture Capital and Startup Accelerator firm that specializes in supporting and funding technology companies that have the potential to be the next technology giants. NEXEA also has services for investors and corporations that want to invest or work with future technology giants.

NEXEA is known for its mentors who are successful ex-entrepreneurs, or C-levels who own or have sold (IPO, M&A) their businesses. The combination of experienced mentors, experts, and partners prove potent as the top companies out of 35+ startups invested by NEXEA have grown 3 to 16 times per year. NEXEA is based in Bandar Sunway, Selangor. For more information, visit us at

Johnson Electric reports Business and Unaudited Financial Information for the Third Quarter of Financial Year 2022/23

HONG KONG SAR – Media OutReach – 12 January 2023 – This news release is made by Johnson Electric Holdings Limited (“Johnson Electric” or the “Company” and together with its subsidiaries, the “Group”) for the business operations and selected unaudited financial information of the Group for the nine months ended 31 December 2022.

The Group’s sales for the nine months ended 31 December 2022 were US$2,674 million compared to US$2,521 million for the same period in 2021, an increase of 6%. Foreign exchange rate movements had a US$148 million unfavourable impact on the Group’s sales during the period. Without the effect of the depreciation against the US Dollar of several currencies (especially the Euro and Renminbi) and excluding the effect of acquisitions, sales growth would have been in the order of 12%.

Sales of Automotive Products Group (“APG”)

APG’s sales for the nine months ended 31 December 2022 were US$2,130 million, an increase of US$207 million or 11% compared to the same period in 2021. Excluding currency effects and the US$3 million effect of a prior-year acquisition, APG’s sales increased by US$335 million or 17% for the nine months, which compares favourably to an estimated 9% increase in global light vehicle production volumes over the same period.

APG’s strong sales performance reflects its focus on creating and delivering technology solutions that are enabling the automotive industry’s shift to battery-electric and hybrid vehicles, reducing weight, and improving passenger safety and comfort. Sales increased across most of APG’s product segments, with the most significant increases experienced in products for thermal management, closure and interior, engine and transmission oil pumps, powder metal parts, power steering and braking applications.

The division’s sales changes by region, excluding currency effects and the effect of a prior-year acquisition, were as follows:

Nine months ended
31 December 2022
Asia Increase 16%
Europe Increase 15%
Americas Increase 22%
Total Increase 17%

Sales of Industry Products Group (“IPG”)

IPG’s sales for the nine months ended 31 December 2022 were US$544 million, a decrease of US$54 million or 9% compared to the same period in 2021. Excluding currency effects and the US$3 million effect of an acquisition, IPG’s sales decreased by US$40 million or 7% for the nine months.

The division experienced strong growth in sales of products for medical, ventilation, white goods, lawn and outdoor tools, semiconductor equipment, circuit-breaker and window automation applications. However, the positive sales performance of these specific product segments was insufficient to offset a decline in demand for various “home-centric” products that had previously experienced unusually strong sales during the heights of the COVID-19 pandemic. This reduction in demand was exacerbated by high levels of inventory in manufacturing and retail channels, which has slowed down customer replenishment orders.

On a regional basis, IPG experienced a significant decrease in sales to destinations in Asia as customers, especially China-based contract manufacturers and other exporters, were impacted by reduced demand in their European and North American end markets. IPG’s sales in Europe increased marginally, by 1%. In the Americas, a strong sales performance was achieved due to growth across several market segments. The sales changes for IPG by region (defined according to “shipped-to” destination), excluding currency effects and an acquisition, were as follows:

Nine months ended
31 December 2022
Asia Decrease 29%
Europe Increase 1%
Americas Increase 14%
Total Decrease 7%

Chairman’s Comments on Sales Performance and Outlook

Concerning the Group’s sales performance and outlook for the current financial year, the Chairman and Chief Executive, Dr. Patrick Shui-Chung Wang, said, “The Group achieved a robust sales performance for the first nine months of the financial year in the context of what remain extremely challenging conditions for global industrial manufacturing businesses. Persistently high inflation, supply chain disruptions, war in Eastern Europe, and the uncertain impact of China’s sudden relaxation of pandemic control measures, are among the factors weighing on consumer sentiment in the major markets where Johnson Electric operates. In the short term, we anticipate that the broad-based slowdown in global economic activity that has been evident in recent months will dampen sales growth in the fourth quarter of the financial year. In the medium to longer term, however, we remain confident that our innovative technology solutions, product segment focus, and global fulfillment capabilities will continue to be a source of enduring competitive advantage and new business growth.”

Cautionary Statement

Shareholders and potential investors in the Company are reminded that the information provided in this news release, including information related to the expected outlook for the full year, is based on the Group’s unaudited internal records and management accounts. This information has not been reviewed or audited by the Company’s auditors.

Shareholders and potential investors should exercise caution when dealing or investing in the shares of the Company.

Hashtag: #JohnsonElectric

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

About Johnson Electric Group

The Johnson Electric Group is a global leader in electric motors, actuators, motion subsystems and related electro-mechanical components. It serves a broad range of industries including Automotive, Smart Metering, Medical Devices, Business Equipment, Home Automation, Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. The Group is headquartered in Hong Kong and employs over 35,000 individuals in 22 countries worldwide. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: .

Hang Lung Properties’ Net-Zero Targets Approved by Science Based Targets initiative (SBTi)

The first real estate company in Hong Kong and mainland China to have its targets endorsed under SBTi’s Net-Zero Standard

HONG KONG SAR – Media OutReach – 12 January 2023 – Hang Lung Properties (the “Company” or “Hang Lung”, SEHK stock code: 00101) is delighted to announce that the Company is the first real estate company in Hong Kong and mainland China to receive approval from the Science Based Target initiative (SBTi) for its near- and long-term company-wide emissions reduction targets in line with the SBTi Net-Zero Standard (Net-Zero Standard).

Launched in October 2021, the Net-Zero Standard is the world’s first framework for corporate net-zero target setting in line with climate science. It includes the guidance, criteria, and recommendations companies need to set science-based net-zero targets consistent with limiting global temperature rise to 1.5°C. Companies adopting the Net-Zero Standard are required to set both near-term and long-term science-based targets. By 2050, organizations must produce close to zero emissions and neutralize any residual emissions. Companies that commit to setting targets through the Net-Zero Standard are also joining the Business Ambition for 1.5°C campaign (a global coalition) and the United Nations-led Race To Zero campaign.

With climate resilience as one of its sustainability priorities, Hang Lung is committed to reducing its carbon footprint in line with climate science and reaching net-zero value chain greenhouse gas (GHG) emissions no later than 2050. The Company made a public announcement of its commitment to setting company-wide emissions reduction targets in line with the Net-Zero Standard in January 2022. Following a rigorous review process, in December 2022, the SBTi approved the Company’s net-zero targets (both near- and long-term targets), as detailed below:

Scope 1 & 2 GHG Emissions Scope 3 GHG Emissions
Overall Net-Zero Target Commits to reaching net-zero GHG emissions across the value chain by 2050
Near-Term Targets Commits to reducing absolute GHG emissions by 46.6% by 2030 from a 2019 base year Commits to reducing absolute GHG emissions from purchased goods and services and downstream leased assets by 25% by 2030 from a 2020 base year
Long-Term Targets Commits to reducing absolute GHG emissions by 99.6% by 2050 from a 2019 base year Commits to reducing absolute GHG emissions by 99.6% by 2050 from a 2020 base year

Mr. Adriel Chan, Hang Lung Properties Vice Chair and Chair of Sustainability Steering Committee, said: “Our world is already in the midst of a climate crisis, and we all need to act decisively to reduce emissions. At Hang Lung, we are determined to decarbonize our business. The validation of our carbon emissions reduction targets in line with SBTi’s Net Zero Standard underscores our commitment to climate action.”

Hang Lung is taking comprehensive steps in support of its ambitious targets. In 2021 the Company reduced its Scope 1 and 2 GHG emissions intensity by 28.9% compared to its 2018 baseline. For Scope 3 emissions, it is one of the first developers in Asia to set a 2025 embodied carbon intensity target, and it has launched a first-of-its-kind sustainability partnership with a key tenant, LVMH Group, to co-create climate and sustainability solutions. Lastly, renewable energy will provide almost 25% of its landlord electricity (Scope 2 emissions) in its mainland China portfolio in 2023.

Hashtag: #HangLungProperties

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

About Hang Lung Properties

Hang Lung Properties Limited (stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is recognized for leading the way in enhanced sustainability initiatives in real estate as it pursues sustainable growth by connecting customers and communities.

At Hang Lung Properties – We Do It Well.

For more information, please visit .

Laos, Vietnam Sign Bilateral Agreements to Boost Relations

Lao Prime Minister Sonexay Siphandone welcomed Vietnamese Prime Minister Pham Minh Chinh on Wednesday.

Prime Ministers of the two nations signed ten bilateral agreements on Wednesday to strengthen the partnership between the two countries.

Laos Among Weakest Passports in New Global Ranking

Laos has been ranked 93rd on a list of the world’s most powerful passports, up slightly from last year’s ranking.