29.6 C
Vientiane
Thursday, June 26, 2025
spot_img
Home Blog Page 253

TDCX retains rank as the top Southeast Asian outsourced CX provider

Among top 17 globally in OA500 Index that evaluates BPO firms worldwide


SINGAPORE – Media OutReach Newswire – 7 May 2025 – TDCX, a leading global business process outsourcing (BPO) company for technology and blue-chip companies, has retained its rank as the top Southeast Asian BPO in the Outsource Accelerator (OA) 500 2025 Index. The company also moved up in global rankings to 17th this year.

OA500 top 20 BPO firms - TDCX

Ms. Angie Tay, Group Chief Operating Officer, TDCX, said, “In a world increasingly defined by volatility and uncertainty, customer experience is one of the most powerful trust builders for brands. When done well, it strengthens relationships, drives loyalty, and enhances customer lifetime value—making it a key lever for growth.

“At TDCX, we invest continually in the capabilities and talent needed to help our clients deliver exceptional CX at scale. Our acquisition of Open Access BPO and expansion of AI-driven solutions reflect this commitment. Outsource Accelerator’s recognition of TDCX being among the top firms globally for outsourced CX is a testament to our commitment to providing excellent CX services and a tribute to our 20,000-strong team who are delivering world-class support every day. We thank Outsource Accelerator for this honor.”

Mr. Derek Gallimore, Founder and CEO of Outsource Accelerator, said, “What sets TDCX apart from other BPOs is its remarkable ability to blend technological innovation with human expertise, delivering superior results for their clients. TDCX exemplifies the gold standard in outsourcing that modern enterprises increasingly depend on in today’s digital-first business environment.”

TDCX AI recently rolled out an AI enablement program for a batch of customer experience agents to learn about machine learning fundamentals, natural language processing, and AI ethics. In the course of the lessons hosted by Google Cloud Skills Boost, agents who completed the program were granted a professional certification, establishing TDCX professionals as qualified AI practitioners in the industry. This initiative aligns with TDCX’s broader goal of cultivating a future-ready workforce skilled in leveraging AI tools for enhanced efficiency and extracting actionable insights from business intelligence data.

The index evaluates more than 3,200 BPO companies worldwide based on their global network strength and commitment to excellence. Assessment factors include geographic footprint alongside qualitative metrics such as online prominence and reputation – measured through employee reviews, LinkedIn engagement, and comprehensive third-party analysis from Crunchbase, Glassdoor and Zoom Info.
Hashtag: #TDCX


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

About TDCX

Singapore-headquartered TDCX is a leading global business process outsourcing (BPO) company that provides customer experience (CX) solutions, sales and digital marketing services, and content moderation for clients across various industries. These include digital advertising and social media, e-commerce, fintech, gaming, healthtech, media, technology and, travel and hospitality.

With a focus on helping companies enable the future, TDCX’s smart, scalable approach—driven by innovation and operational precision—positions it as a key partner for companies targeting tangible outcomes. With more than 20,000 employees across 39 locations worldwide, TDCX provides its clients with comprehensive coverage in Asia, Europe and the United States. For more information, please visit .

PEC Ltd. US$160 million buyout and privatization by Liberty Energy Solutions Ltd

SINGAPORE, May 7, 2025 /PRNewswire/ — PEC Ltd (“PEC”, SGX: IX2) shareholders have approved a transaction valued at US$160 million for the 100% acquisition by Alliance Energy Services Pte Ltd (“Alliance”) through a Scheme of Arrangement at Extraordinary General Meeting in Singapore.  Following sanction of the shareholders’ meeting by the High Court of Singapore, all PEC shares will be acquired by Alliance and then PEC will be subsequently delisted from the Singapore Stock Exchange.  Alliance is a holding company majority owned by Liberty Energy Solutions Ltd (“Liberty Energy”) with a minority ownership by PEC’s Chair Ms. Edna Ko and CEO Mr. Robert Dompeling.

Liberty Energy provides energy engineering solutions and proprietary products to oil & gas refineries and petrochemical facilities around the world.  With operations across the US, Canada, Singapore, Thailand, Malaysia, India, and the Middle East, Liberty Energy combines advanced R&D capabilities with extensive field experience.  The company holds over 200 patents and each year performs more than 200 plant turnarounds for major global clients, including ExxonMobil, Reliance, SPRC, Neste, Chevron, Nayara, Petronas, BP, and Shell.  Liberty Energy is the parent of two wholly owned subsidiaries: CR3 Pte Ltd (“CR3”), a Singapore-based leader in energy efficiency, engineering excellence, and sustainable solutions, and ZymeFlow LLC (“ZymeFlow”), a Houston-based leader in environmentally friendly chemical cleaning and decontamination solutions. ShawKwei & Partners (“ShawKwei”) is Liberty Energy’s controlling shareholder with management owning the other shares. Please visit libertyenergy.group

Founded in 1982 and headquartered in Singapore, PEC is a well-respected provider of maintenance and integrated EPC services for the oil & gas, petrochemical, chemical terminals and pharmaceutical industries. PEC reported revenue of SGD 391 million and net profit of SGD 15 million for the last twelve months ending 31 December 2024, and a robust balance sheet with net cash position of SGD 142 million. Please visit www.peceng.com

“We are excited to welcome PEC into Liberty Energy,” said Kyle Shaw, Chair of Liberty Energy and founder and managing partner of ShawKwei. “PEC’s strong management team, technical expertise, and reputation for reliability and service excellence align well with our strategy of building a global platform for best-in-class energy solutions.”

PEC will continue to operate under the leadership of Chair Edna Ko and CEO Robert Dompeling and work closely with Liberty Energy to provide a greater range of engineering services and products to deliver greater value to a larger group of customers.  With more than four decades of operational excellence and strong customer relationships across Asia and the Middle East, PEC enhances Liberty Energy’s global platform with CR3 and ZymeFlow, and expands its ability to deliver reliable, end-to-end energy solutions worldwide.

About ShawKwei & Partners:

ShawKwei & Partners is a private equity fund manager investing in industrial and service companies with revenues between US$50-800 million operating across Asia, Europe, and the USA.  After investing, ShawKwei & Partners helps improve a business by partnering with management to identify and realize sustainable performance improvements in sales growth, margin expansion, and capital efficiency.  Kyle Shaw established ShawKwei & Partners in Hong Kong in 1998 after previously managing Asian private equity funds for the Tudor Investment Group and Security Pacific National Bank. Please visit www.shawkwei.com

About CR3 Pte Ltd:

Founded in 1991 in Singapore, CR3 provides energy engineering solutions across 18 Asian countries, India, and the Middle East from operational bases in Singapore, Thailand, India, Malaysia, and the UAE.  CR3 is well known for handling mission-critical reactor catalysts used in refining, chemical, fertilizer, and heavy industrial plants for customers in asset-intensive industries such as energy production, chemical processing, and power generation.  CR3 also offers equipment and plant maintenance, pipeline and process services, shutdowns and turnarounds, and engineering, procurement, and construction (EPC) solutions.  Backed by a loyal workforce, strong customer relationships, and a wide network of technical partners, CR3 has built a reputation for excellence and is well-positioned to support the energy sector’s transition to a lower-carbon future. Please visit www.CR3.group

About ZymeFlow LLC:

Headquartered in Houston, Texas, ZymeFlow has over 35 years of experience pioneering innovative chemical decontamination solutions that are more effective, more environmentally friendly, and less wasteful than alternative methods.  As an industry leader, ZymeFlow continues to develop proprietary chemistries and application technologies such as ZymeFlow® Pro, Rezyd-HP®, CatZyme®, and ZymeFlow® LNG.  Its diverse, 100% biodegradable product line helps clients meet sustainability goals, reduce downtime, and lower costs across refining, petrochemical, and LNG facilities onshore and offshore in over 55 countries.  Supported by one of the most experienced operations teams in the industry, ZymeFlow’s patented, eco-friendly solutions optimize facility performance, reduce carbon footprints, and drive green initiatives. Please visit www.ZymeFlow.com

PEC Ltd. US$160 million buyout and privatization by Liberty Energy Solutions Ltd

SINGAPORE, May 7, 2025 /PRNewswire/ — PEC Ltd (“PEC”, SGX: IX2) shareholders have approved a transaction valued at US$160 million for the 100% acquisition by Alliance Energy Services Pte Ltd (“Alliance”) through a Scheme of Arrangement at Extraordinary General Meeting in Singapore.  Following sanction of the shareholders’ meeting by the High Court of Singapore, all PEC shares will be acquired by Alliance and then PEC will be subsequently delisted from the Singapore Stock Exchange.  Alliance is a holding company majority owned by Liberty Energy Solutions Ltd (“Liberty Energy”) with a minority ownership by PEC’s Chair Ms. Edna Ko and CEO Mr. Robert Dompeling.


Liberty Energy provides energy engineering solutions and proprietary products to oil & gas refineries and petrochemical facilities around the world.  With operations across the US, Canada, Singapore, Thailand, Malaysia, India, and the Middle East, Liberty Energy combines advanced R&D capabilities with extensive field experience.  The company holds over 200 patents and each year performs more than 200 plant turnarounds for major global clients, including ExxonMobil, Reliance, SPRC, Neste, Chevron, Nayara, Petronas, BP, and Shell.  Liberty Energy is the parent of two wholly owned subsidiaries: CR3 Pte Ltd (“CR3”), a Singapore-based leader in energy efficiency, engineering excellence, and sustainable solutions, and ZymeFlow LLC (“ZymeFlow”), a Houston-based leader in environmentally friendly chemical cleaning and decontamination solutions. ShawKwei & Partners (“ShawKwei”) is Liberty Energy’s controlling shareholder with management owning the other shares. Please visit libertyenergy.group

Founded in 1982 and headquartered in Singapore, PEC is a well-respected provider of maintenance and integrated EPC services for the oil & gas, petrochemical, chemical terminals and pharmaceutical industries. PEC reported revenue of SGD 391 million and net profit of SGD 15 million for the last twelve months ending 31 December 2024, and a robust balance sheet with net cash position of SGD 142 million. Please visit www.peceng.com

“We are excited to welcome PEC into Liberty Energy,” said Kyle Shaw, Chair of Liberty Energy and founder and managing partner of ShawKwei. “PEC’s strong management team, technical expertise, and reputation for reliability and service excellence align well with our strategy of building a global platform for best-in-class energy solutions.”

PEC will continue to operate under the leadership of Chair Edna Ko and CEO Robert Dompeling and work closely with Liberty Energy to provide a greater range of engineering services and products to deliver greater value to a larger group of customers.  With more than four decades of operational excellence and strong customer relationships across Asia and the Middle East, PEC enhances Liberty Energy’s global platform with CR3 and ZymeFlow, and expands its ability to deliver reliable, end-to-end energy solutions worldwide.

About ShawKwei & Partners:

ShawKwei & Partners is a private equity fund manager investing in industrial and service companies with revenues between US$50-800 million operating across Asia, Europe, and the USA.  After investing, ShawKwei & Partners helps improve a business by partnering with management to identify and realize sustainable performance improvements in sales growth, margin expansion, and capital efficiency.  Kyle Shaw established ShawKwei & Partners in Hong Kong in 1998 after previously managing Asian private equity funds for the Tudor Investment Group and Security Pacific National Bank. Please visit www.shawkwei.com

About CR3 Pte Ltd:

Founded in 1991 in Singapore, CR3 provides energy engineering solutions across 18 Asian countries, India, and the Middle East from operational bases in Singapore, Thailand, India, Malaysia, and the UAE.  CR3 is well known for handling mission-critical reactor catalysts used in refining, chemical, fertilizer, and heavy industrial plants for customers in asset-intensive industries such as energy production, chemical processing, and power generation.  CR3 also offers equipment and plant maintenance, pipeline and process services, shutdowns and turnarounds, and engineering, procurement, and construction (EPC) solutions.  Backed by a loyal workforce, strong customer relationships, and a wide network of technical partners, CR3 has built a reputation for excellence and is well-positioned to support the energy sector’s transition to a lower-carbon future. Please visit www.CR3.group

About ZymeFlow LLC:

Headquartered in Houston, Texas, ZymeFlow has over 35 years of experience pioneering innovative chemical decontamination solutions that are more effective, more environmentally friendly, and less wasteful than alternative methods.  As an industry leader, ZymeFlow continues to develop proprietary chemistries and application technologies such as ZymeFlow® Pro, Rezyd-HP®, CatZyme®, and ZymeFlow® LNG.  Its diverse, 100% biodegradable product line helps clients meet sustainability goals, reduce downtime, and lower costs across refining, petrochemical, and LNG facilities onshore and offshore in over 55 countries.  Supported by one of the most experienced operations teams in the industry, ZymeFlow’s patented, eco-friendly solutions optimize facility performance, reduce carbon footprints, and drive green initiatives. Please visit www.ZymeFlow.com

Photo – https://laotiantimes.com/wp-content/uploads/2025/05/liberty-1.jpg 

New Akamai Study Reveals API Security Incidents Cost APAC Enterprises Over US$580,000 on Average in the Past Year

Internal disconnects, poor visibility, and misaligned priorities leave organizations vulnerable to costly API security incidents

SINGAPORE, May 7, 2025 /PRNewswire/ — Akamai Technologies (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, today released the latest 2025 API Security Impact Study, an in-depth Asia-Pacific study exploring the hidden vulnerabilities, financial impacts, and operational challenges caused by application programming interface (API) security incidents in the region’s largest economies. Based on the study, despite a growing awareness of API vulnerabilities, the commitment to API security from senior leadership and security teams across the region has not kept pace, resulting in costly API attacks that underscore the urgent need to reach a consensus on where API security fits into their cybersecurity priorities.

The study, which surveyed more than 800 IT and security professionals across China, India, Japan, and Australia, paints a stark picture of the escalating risks enterprises face from insecure APIs. With APIs now the backbone of modern digital infrastructure, 85% of organizations in the region reported at least one API-related security incident in the past 12 months. The financial impact is equally concerning, with the average estimated cost of API security incidents reaching more than US$580,000 across the surveyed markets. However, many enterprises still lack visibility into their API ecosystems and the sensitive data they expose.

“APIs have become mission-critical, powering everything from mobile banking to connected vehicles. But our research shows that organizations across Asia-Pacific are struggling to secure them,” said Reuben Koh, Director of Security Technology & Strategy, Akamai Technologies, Asia-Pacific & Japan. “It is crucial for organizations to reach a consensus on the root cause, impact, and priority levels of API security incidents so that they can implement holistic security strategies to protect critical APIs from development to runtime.”

Key findings for Asia-Pacific:

  • China leads in API security prioritization, but gaps remain: Chinese respondents were the only group to rank “securing APIs from threat actors” as their top cybersecurity priority. However, cost perceptions varied widely, with C-suite executives estimating API incident costs at CN¥3.75 million (US$517,000) and front-line security staff estimating it closer to CN¥6.7 million (US$925,000).
  • India reveals sharp internal disconnects: While 77% of Indian C-suite leaders claimed to have full API inventories, only 41% of AppSec professionals agreed. This disconnect extends to sensitive data awareness, with just 11% of AppSec teams confident that they know which APIs return sensitive data.
  • Japan deprioritizes API risks despite industry exposure: API security ranked just fourth on the country’s cybersecurity priority list, even as 96% of organizations in energy and retail industries reported recent API incidents. Japanese AppSec teams cited reputational damage with boards and executives as the top consequence.
  • Australia hit hardest by incidents, but slowest to respond: Australia saw the highest incident rate (95%) and incurred significant financial impacts (AU$493,000 on average) yet had the lowest percentage of organizations regularly conducting comprehensive API vulnerability testing (6%).

A disconnect between risk and response
Across all four countries, the study reveals a critical gap between perception and reality:

  • C-suite awareness is high, but operational visibility is low: 92% of APAC executives said their organizations experienced an API incident in the past 12 months, but only 37% of all respondents could confirm that they know which APIs expose sensitive data.
  • Testing remains inconsistent: Despite high incident rates, only a small percentage of respondents across the region reported real-time API testing, with China at 22%, India at 15%, Japan at 11%, and Australia at 6%.

These disconnects reflect a broader challenge: Organizations are deploying APIs faster than they can secure them, creating fertile ground for attackers. “The problem is no longer theoretical. API abuse is happening right now, with real financial and reputational costs,” added Koh. “Leadership teams must close the gap with security and AppSec professionals working closer together and invest in the right tools, processes, and alignment to protect this critical technology.

Compliance wake-up call
The study also found that while the majority of organizations factor API security into their compliance programs, few are doing so holistically. Only 41% incorporate APIs into risk assessments, and just 40% factor APIs into reporting requirements. Japan also lagged behind other countries in the region in recognizing API-related compliance requirements, with 22% stating that they do not factor API security into their compliance efforts.

From China’s Data Security Law to Australia’s Consumer Data Right regulation, the need to account for API risks in compliance and security frameworks is growing rapidly. As APIs become the connective tissue of digital business, securing them requires a deliberate, end-to-end approach. The study offers recommendations that organizations across Asia-Pacific should prioritize to build lasting resilience, including undertaking a full inventory of APIs, regular testing to ensure APIs are coded correctly, implementing runtime detection to differentiate between “normal” and “abnormal” API activity, and more.

To access the in-depth research, download the full study.

About Akamai

Akamai is the cybersecurity and cloud computing company that powers and protects business online. Our market-leading security solutions, superior threat intelligence, and global operations team provide defense in depth to safeguard enterprise data and applications everywhere. Akamai’s full-stack cloud computing solutions deliver performance and affordability on the world’s most distributed platform. Global enterprises trust Akamai to provide the industry-leading reliability, scale, and expertise they need to grow their business with confidence. Learn more at akamai.com and akamai.com/blog, or follow Akamai Technologies on X and LinkedIn.

Contact

Akamai PR
Akamai-APJHub@edelman.com 

“Human Creativity is Inspired by Abstract Connections That AI Cannot Intuitively Make”

The Orangeblowfish Creative Agency Founder to Join Dynamic Panel at Design Shanghai 2025

SHANGHAI, May 7, 2025 /PRNewswire/ — The Orangeblowfish creative agency Founder Siu Tang has been invited to share his thoughts on AI and creativity at ‘Design for Humanity’, the Design Shanghai Global Design Conference on June 4-7, 2025. Asia’s leading international design event, in its 12th year, is being hosted at Shanghai World Expo Exhibition & Convention Center and is expected to attract around 80,000 visitors. This year’s four-day focus is on how design can change the world for the better and how creatives can redesign their futures as technology advances.

Based in Shanghai, Siu is an award-winning creative brand alchemist, transforming branding potential for high-profile names in retail, hospitality, and lifestyle industries in China and Asia-Pacific. On the third day of Design Shanghai, he will reveal his insights and opinions in what promises to be an electric panel presentation and discussion: The Big Idea: Human vs Machine Creativity: The Future of Human Creativity in the Artificially Intelligent Age.

The panel will be chaired by Aidan Walker, Design Shanghai Conference Director, who is enthusiastically including Siu as a dynamic creative voice. “Design Shanghai in 2025 is about looking beyond what design can achieve in the future and exploring how. Siu Tang brings dynamic originality to the world of branding concepts at The Orangeblowfish. His ideas on whether human creativity could be threatened by AI is undoubtedly going to be as bold and exciting as his design approach.”

Leading the topic will be Iris Pan, Lead Designer, Amazon XR & AI Shopping. Other contributors sharing the stage alongside Siu include Mo Zheng, Founder and Chief Architect, AntiStatics; Lecturer, Weitzman School of Design, University of Pennsylvania; Craig Miller, Partner and Head of Heatherwick Studio China; and Budiman Ong, Co-Founder of Jia CURATED and Ong Cen Kuang.

A Peak Performance Influencer and PRovoke APAC Innovator, Siu’s combines brand strategy methodology with creativity, art, and design to create connections and weave brand stories that enrich. The Orangeblowfish embraces ‘creativity unleashed’ through original concepts.

Siu believes a crucial aspect differentiates human and AI creativity. “As humans, we have an unfathomable ability to create abstract connections that resonate,” he highlights. “As a designer, this is intrinsic in creating narratives which, even when they haven’t been imagined before, somehow make sense in a way that is not always consciously understood. This is fundamental to the limits of AI right now, and as it evolves, so might we.”

Siu will be available for interviews and/or provide quotes on June 6, 2025, following his afternoon panel appearance. For more information, logos, and photos, or to arrange an interview please get in touch via heya@theorangeblowfish.com 

About The Orangeblowfish

The Orangeblowfish is an award-winning creative agency with its headquarters in Shanghai, and teams in Asia-Pacific. Our vision is to create experiences that connect and enrich people’s lives. Our mission is to unleash the power of creativity by using art, storytelling, space, and technology to help our clients’ brands, employees, and communities reach their full potential. Our belief is that creativity has no boundaries. We partner with Fortune 500 companies and local brands to produce uniquely crafted creative branding strategies, customized brand installations, brand experiences and more. For more information, visit www.theorangeblowfish.com.  

About Design Shanghai

The 12th Design Shanghai will be held from June 4-7, 2025 at the Shanghai World Expo Exhibition & Convention Center. Having attracted 2,600+ global design brands, 1,000+ industry pioneers, and 640,000+ professional visitors to date, it has evolved into Asia’s leading platform for cutting-edge dialogue of international design, charting the evolution of Chinese design.

This year, Design Shanghai 2025 will present the design excellence of 600+ brands across 30+ countries through four sections: Furniture & Lighting Design, Kitchen, Bathroom & Systems Design, New Materials & Applications, and Living & Lifestyle. Seven special curated exhibitions: TALENTS, Neooold, Re:Materialize, Made in JDZ, Beyond Craft Japan, Collectible Design & Art, Materials First, together with three forums: Global Design Conference, Design for Wellbeing Conference and CMF Conference, will join hands with 200+ design pioneers, and are expected to engage anticipated 80,000+ professional attendees with the charm of design.

TIER IV fuels development of autonomous driving standards and an open dataset in Japanese government initiative

TOKYO, May 7, 2025 /PRNewswire/ — TIER IV, the pioneering force behind the world’s first open-source software for autonomous driving, is proud to announce its selection for a major Japanese government project aimed at expanding deployments of autonomous driving services to address local mobility challenges.  Through this initiative, TIER IV aims to advance autonomous driving standards for Level 4+ and deliver an open dataset that enables the development of highly transparent and traceable end-to-end AI.

Under this project, TIER IV will work closely with consortium members to develop industry-leading standards for autonomous driving, with automotive manufacturers playing a central role. This will facilitate the deployment of new autonomous driving services across the country. The consortium will also explore global market opportunities, especially in regions facing similar mobility and urban development challenges.

In addition, the consortium will develop an open dataset by integrating real-world data with data created by generative AI. This will enable the creation of simulation environments that replicate diverse traffic scenarios, essential for evaluating safety and performance.

In April 2025, TIER IV launched a collaboration with Carnegie Mellon University to develop a hybrid architecture that combines data-centric AI approaches with best practices in robotics, aiming to realize a next-generation Level 4+ autonomy concept. By leveraging the insights and outcomes from this collaboration, TIER IV will advance the development of autonomous driving standards for Level 4+, while creating and providing an open dataset designed to ensure transparency and traceability in the decision-making processes of embedded AI.

Focus areas

Efforts to establish autonomous driving standards for Level 4+ include:

  • Integration of multiple end-to-end generative AI models into autonomous driving systems, with scenario-based evaluations used to compare their characteristics.
  • Development of a framework for evaluating and validating generative AI models, along with a roadmap for real-world deployment.
  • Application of safety evaluation techniques to robotaxi services, drawing on findings from proof-of-concept tests to support safe service design.

The creation and delivery of an open dataset that enables the development of highly transparent and traceable end-to-end AI involves:

  • Collection of driving data using Level 4+ vehicles in and around Tokyo.
  • Development of a large, diverse dataset by combining real-world and synthetic data to evaluate autonomous driving systems in complex environments.
  • Generation of varied driving scenarios using different generative AI architectures, reflecting a wide range of behaviors, traffic participants, and environmental conditions.
  • Comparison of synthetic output with real-world data to address generative AI challenges such as errors and hallucinations. Performance will be validated in real systems to confirm model utility, identify weaknesses, and support continuous improvement through MLOps pipelines.
  • Delivery of a large-scale dataset through the evaluation of generative AI models in partnership with automotive manufacturers and the definition of synthetic data requirements.

The Japanese government’s Mobility DX Strategy aims to establish profitable autonomous taxi services in the near term. TIER IV’s participation in this project will not only contribute to this goal, but also lay the groundwork for applying autonomous driving technologies to passenger vehicles, further strengthening the global competitiveness of Japan’s automotive industry.

About TIER IV

TIER IV stands at the forefront of deep tech innovation, pioneering Autoware, the world’s first open-source software for autonomous driving. Harnessing Autoware, we build scalable platforms and deliver comprehensive solutions across software development, vehicle manufacturing, and service operations. As a founding member of the Autoware Foundation, we are committed to reshaping the future of intelligent vehicles with open-source software, enabling individuals and organizations to thrive in the evolving field of autonomous driving.

Autoware is a registered trademark of the Autoware Foundation.

Media contact
pr@tier4.jp

Lake Resources Announces Exploration of Strategic Alternatives

SYDNEY, May 7, 2025 /PRNewswire/ — Lake Resources N.L. (ASX: LKE; OTC: LLKKF) (“Lake” or the “Company”), a responsible lithium developer, announced today that its Board of Directors will form a Special Committee composed of all members of the Board of Directors to evaluate a full range of strategic alternatives aimed at maximising value for all stakeholders in the Company. Lake’s tier one flagship Kachi Lithium Brine Project (“Kachi”) in Argentina is significantly progressed and ranks as one of the largest lithium assets in the Lithium Triangle. Highlights of Kachi include:

  • Largest independent development[1] project across the Lithium Triangle with Phase One plant capacity of 25ktpa[2] of battery grade lithium carbonate and potential for expansion
  • Total resource exceeds 10.6 million tonnes of lithium carbonate equivalent[3]
  • Completed Phase One Definitive Feasibility Study in December 2023 with demonstration plant achieving 99.9% impurity rejection and 80% lithium recovery[4] 
  • Kachi is near shovel ready with the Exploitation Environmental Impact Assessment well advanced with approvals expected mid-2025

The decision to pursue a review of strategic alternatives is driven by the Company’s view that Kachi’s intrinsic value and strategic significance is materially undervalued by the market. The decision is also supported by recent announcements from companies with Argentine lithium projects receiving proposals that far exceed their current market capitalisations. 

“While lithium prices are currently depressed and weighing on company valuations across the sector, the long-term fundamentals for lithium remain robust with 17% per annum demand growth through 2030[5]. As the largest independent lithium development project in Argentina, Kachi will play an important role in supplying battery-grade lithium carbonate to the automotive and energy storage sectors.” said Lake’s Chairman, Stu Crow.

“We have observed recent examples where strategic buyers have ascribed values to Argentine lithium projects that far exceed public market valuations,” Mr. Crow continued. “We believe this dynamic is true for Kachi and Lake’s current share price. The Special Committee will be focused on addressing this discrepancy and closing the potential value gap through the strategic review we are announcing today.”

The Special Committee will consider and assess a range of potential strategic alternatives, which may include, but are not limited to, a potential sale of all or a part of Lake’s interest in Kachi, a potential sale or merger of the Company, restructuring initiatives, or partnership or joint venture structures.

Goldman Sachs has been retained as financial advisor with respect to potential transactions relating to Kachi.[6] Multiple parties continue to be engaged in the Goldman Sachs-led process. There can be no assurance that this strategic alternatives review will result in any transaction.

Table 1: Resource Statement
Table 1: Resource Statement

About Lake Resources N.L. (ASX: LKE OTC: LLKKF) 

Lake Resources N.L. (ASX: LKE, OTC: LLKKF) is a responsible lithium developer utilising state of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina.

This ion exchange extraction technology delivers a solution for two rising demands – high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.

Forward Looking Statements:

Certain statements contained in this announcement, including information as to the future financial performance of the projects and the Company, are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Lake Resources N.L. are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; involve known and unknown risks and uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results, expressed or implied, reflected in such forward-looking statements; and may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices, operating costs and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions and affected by the risk of further changes in government regulations, policies or legislation and that further funding may be required, but unavailable, for the ongoing development of Lake’s projects. Lake Resources N.L. disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements. All forward-looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Lake does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

[1] Kachi is the largest lithium development in the Lithium Triangle owned by a non-major lithium developer

[2] Tonnes per annum

[3] See Table 1 for breakdown of Mineral Resources into individual categories

[4] Refer to ASX announcement dated 19 December 2023 (“Kachi Phase One Definitive Feasibility Study”)

[5] Goldman Sachs Global Investment Research April 2025

[6] Refer to ASX announcement dated 29 November 2023

FancyTech Closes Series B+ to Power AI Personalized Content Solutions in Thailand and Southeast Asia

BANGKOK, May 7, 2025 /PRNewswire/ — FancyTech, an AI startup specializing in commercial content generation and winner of the 2024 LVMH Innovation Award, has announced the successful close of its Series B+ funding round. The round was co-led by GSR Ventures and Zhilin Capital, with continued backing from existing investor DCM. This latest capital injection will power the company’s global expansion and further scale its AI-driven content generation platform.

FancyTech reported $15 million in annual recurring revenue (ARR) for 2024, doubling year-on-year. With more than 1,000 clients across over ten countries and a new global headquarters in Dubai, FancyTech is expanding its presence across Southeast Asia—with Thailand as a key growth market.

Localized Content Partnerships Drive Hyper-personalization

FancyTech has started by partnering with leading Thai retail conglomerates and banks to deliver hyper-personalized content experiences powered by AI. This strategic collaboration enables enterprise clients to boost marketing efficiency and campaign ROI. By leveraging FancyTech’s advanced content generation platform, local partners can scale content creation and deepen consumer engagement, key success factors in Thailand’s mobile-first digital ecosystem across e-commerce and CRM marketing.

“Thailand is a market where visual impact, cultural nuance, and speed-to-market can make or break a brand,” said Bryan Lim, Channel Manager APAC at FancyTech. “By using AI to scale content personalization with local retail and banking leaders, we’re helping innovative Thai businesses to grow faster.”

AI Technology That Scales, Localizes, and Delivers

Thailand’s e-commerce revenue is expected to surpass 1.1 trillion baht in 2024, reflecting 14 per cent year-on-year growth,  and is projected to grow to 1.6 trillion baht in 2027. FancyTech’s proprietary AI models specialize in precise object reconstruction and content control, ensuring brand-aligned visuals at scale and in line with local sensibilities.

Each custom AI model is trained to the client’s unique visual identity, enabling marketers to create commercial content across various content types using the same prompt. This dramatically cuts production time while enhancing campaign relevance.

In 2023, the Creative Economy Agency (CEA) estimates Thailand’s creative economy generated revenue of 1.44 trillion baht, accounting for around 8 per cent of GDP. As part of its regional expansion, FancyTech is building a global AI content supply chain that leverages Thailand’s dynamic creative economy. “Our mission is to elevate how content is imagined, produced, and delivered as mobile internet access expands worldwide,” Bryan Lim added. “Innovative Thai creators and enterprises are central to this vision.”

About FancyTech

FancyTech is a global leader in AI-generated content, specializing in high-quality, brand-aligned visual content for businesses. FancyTech helps businesses looking to integrate AI across marketing, design, and digital experiences. In 2024, the company was named Grand Winner of the LVMH Innovation Award and featured on Forbes Asia’s “100 to Watch” list. With deep expertise in AI-powered creative and scalable commercial content, FancyTech is shaping how enterprises harness artificial intelligence to elevate their brands and accelerate innovation.