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eBay announces global payment acquiring partnership with Checkout.com

The partnership expands eBay’s global payment platform capabilities to enhance customer experience and drive operational efficiencies

SAN JOSE, Calif. and LONDON, April 16, 2025 /PRNewswire/ — eBay, a global commerce leader that connects millions of buyers and sellers around the world, today announced its strategic partnership with Checkout.com, a leading global digital payments platform. Through this partnership, eBay expands its global payment platform to deliver seamless commerce experiences for its customers.

With more than 2.3 billion live listings, eBay is one of the world’s largest online marketplaces. Millions of customers across 190 markets buy and sell hard-to-find collectibles, pre-loved fashion, electronics, car parts, and more on the marketplace.

Avritti Khandurie Mittal, VP & General Manager of Global Payments and Financial Services at eBay said, “eBay operates at a significant global scale, and our customers value speed, convenience, and safety while shopping on our marketplace. Our strategic partnership with Checkout.com enables us to continue delivering fast, reliable, and frictionless payments experiences to millions of customers globally. The addition of Checkout.com to our partnership ecosystem highlights our continued commitment toward accelerating customer and business growth through uniquely eBay payments and financial services.”

Guillaume Pousaz, CEO at Checkout.com said: “eBay is an iconic global commerce leader which continues to push the boundaries of digital commerce. Payments performance is critical at this enterprise-level scale, and our technology, data, and acquiring expertise will help eBay maximize acceptance in global markets and drive efficiency across its platform. Together, we’re shaping the future of the digital economy.”

About Checkout.com

Checkout.com processes payments for thousands of companies that shape the digital economy. Our global digital payments network supports over 145 currencies and delivers high-performance payment solutions across the world, processing billions of transactions annually.

We help enterprise businesses boost acceptance rates, combat fraud, and turn payments into a major revenue driver. Headquartered in London and with 19 offices worldwide, Checkout.com is trusted by leading brands such as eBay, DocuSign, Vinted, Uber Eats, Klarna, Wise, Sainsbury’s, Financial Times, Grab, and Sony.

Checkout.com. Where the world checks out.

GENESIS MAGMA RACING DEBUTS FULL-SCALE GMR-001 HYPERCAR, USHERING IN A NEW ERA OF ATHLETIC ELEGANCE

–  Genesis Magma Racing has unveiled the first full-scale GMR-001 Hypercar which will be on display at the New York International Auto Show
–  The Genesis GMR-001 Hypercar is an LMDh endurance prototype engineered for the FIA World Endurance Championship (WEC) and IMSA SportsCar Championship (IMSA)
–  The brand also unveiled Genesis Magma Racing livery and race suits, which pay tribute to Genesis’ Korean heritage

NEW YORK, April 16, 2025 /PRNewswire/ — Genesis Magma Racing (GMR) today unveiled its full-scale GMR-001 Hypercar and team identity, including livery and race suits, marking a bold step in the brand’s global motorsport ambitions. The global reveal of the GMR-001 Hypercar ahead of the New York International Auto Show lays the groundwork for the team’s 2026 WEC debut, culminating in the ultimate challenge: the 24 Hours of Le Mans.

Genesis GMR-001 Hypercar
Genesis GMR-001 Hypercar

Building on Genesis’ signature “Athletic Elegance” design philosophy, the GMR-001 Hypercar and its striking livery embody the brands’ commitment to blending Korean heritage with motorsport innovation, setting a new standard for creativity on the global racing stage.

The GMR-001 Hypercar: Sculpted for Speed

At the heart of Genesis Magma Racing’s ambitions lies the GMR-001 Hypercar, a vehicle that translates Genesis’ design philosophy into raw racing potential. Inspired by the brand’s Magma performance line-up, the GMR-001 Hypercar combines aerodynamic precision with sculptural fluidity, balancing elegance and aggression.

The GMR-001 Hypercar features Genesis’ signature Two-Line lighting, wrapping horizontally around the front and rear to emphasize width and aerodynamic intent. The inclusion of the design ensures visual brand consistency with Genesis’ road-car range, without comprising the nighttime visibility vital in endurance racing.

The GMR-001 Hypercar’s bodywork, crafted at Genesis Design Europe under Chief Creative Officer Luc Donckerwolke, features a Parabolic Line along the side profile. A flat underbody plate supports aerodynamic efficiency, while integrated inlets extract hot air to enhance thermal performance.

While final specifications remain under wraps, the GMR-001 Hypercar’s hybrid powertrain and chassis—developed in partnership with ORECA Motorsport—promise to deliver highly competitive performance and speed.

GMR-001 Hypercar Livery: A Nod to Korean Heritage

The GMR-001 Hypercar’s livery marries intensity with subtlety, dominated by the signature Magma orange—a hue symbolizing Korea’s vibrant energy. Integrated into the design is the Korean lettering for “Magma” (마그마), with its consonants “ㅁ, ㄱ, ㅁ” forming geometric motifs that echo the team’s logo. This visual language reflects Genesis’ fusion of cultural authenticity and innovation, ensuring the GMR-001 Hypercar stands out as a moving emblem of Korean identity.

The distinctive livery blends performance with artistic expression. A gradient that flows from vibrant Magma orange at the front to deep red at the rear evokes a sense of speed and rising intensity—mirroring both the temperature of a high-performance engine and the acoustic shift of the Doppler effect. Toward the rear, bold Hangul script for ‘Magma’ emerges, reinforcing the concept’s emotional energy. More than a race livery, it’s an artful statement—where color and form convey the unique performance identity of Genesis.

GMR Race Suits: Wearable Heritage

Complementing the GMR-001 Hypercar, the Genesis Magma Racing team’s suits feature the brand’s signature Two-Line in combination with G-Matrix graphics. The suits’ design reinforces the connection between driver, machine, and brand identity.

Wearing these suits are the individuals tasked with bringing Genesis Magma Racing’s vision to life on track—the driver roster includes three-time 24 Hours of Le Mans winner André Lotterer and Luis “Pipo” Derani a four-time victor at the 12 Hours of Sebring, both central to shaping the team’s performance ahead of its WEC debut.

For more information, please visit the global newsroom at newsroom.genesis.com

SingPost Unwinds QSI Minority Cross-Shareholdings

  • Mutually-agreed exercise of options with Alibaba in line with previously agreed terms
  • Transaction results in expected cash inflow of approximately S$55.86 million
  • Based on the valuation of QSI[1], there is an indication of potential goodwill impairment of up to S$77.86 million

SINGAPORE, April 16, 2025 /PRNewswire/ — Singapore Post Limited (“SingPost”) today announced the mutually agreed unwinding of cross-holdings with Alibaba Group Holding Limited (“Alibaba”) based on previously agreed terms.

Based on an agreement dated 20 January 2023, SingPost and Alibaba will mutually exercise options to unwind respective minority cross-shareholdings in Shenzhen 4PX Information and Technology Co,. Ltd. (“4PX”) and Quantium Solutions International Pte. Ltd. (“QSI”).

“The execution of this agreement enables the efficient unwinding of our cross-holdings, allowing SingPost to simplify our investment portfolios, and pursue strategic objectives,” said Simon Israel, Chairman of the Board, SingPost.

QSI is majority-owned by SingPost (66 per cent) with Alibaba holding a minority stake (34 per cent). QSI, in turn, holds a 17.61 per cent stake in 4PX, a majority-owned subsidiary of Alibaba’s logistics arm, Cainiao.

Under a deed of undertaking (“DoU”) in accordance with previously agreed terms[2], SingPost will acquire full ownership of QSI while Alibaba’s logistics arm, Cainiao, increases its stake in 4PX. 

Cainiao will acquire QSI’s 17.61 per cent stake in 4PX for approximately S$92.75 million[3]. Concurrently, a capital reduction[4] in QSI will see Alibaba’s shares cancelled. SingPost will pay Alibaba S$36.89 million for their 34 per cent stake in QSI[5]. The payment amount is based on a fair value assessment by KPMG as of 30 September 2024, which valued QSI at approximately S$108.5 million.

SingPost anticipates receiving a cash inflow of approximately S$55.86 million[6] from this transaction. In connection with the valuation[7], there is an indication of impairment on the goodwill amounting up to S$77.86 million carried on the investment in QSI. Any such impairment will be recognised and disclosed in the Company’s full year results currently scheduled for release on 15 May 2025. 

About Singapore Post Limited (SingPost)

Singapore Post (“SingPost”) is a leading postal and eCommerce logistics provider in Asia Pacific. The portfolio of businesses spans from national and international postal services to warehousing and fulfilment, international freight forwarding and last mile delivery, serving customers in more than 220 global destinations. Headquartered in Singapore, SingPost has approximately 3,000 employees, with presence in 14 markets worldwide. Since its inception in 1858, the Group has evolved and innovated to bring about best-in-class integrated logistics solutions and services, making every delivery count for people and planet. www.singpost.com

[1]  The valuation refers to the KPMG valuation report as of 30 September 2024, which valued QSI at approximately S$108.5 million.

[2] SingPost (20 January 2023) ‘Proposed dilution and potential disposal of interest in Shenzhen 4PX Information and Technology Co., Limited’, (20 January 2023) linked here.

[3] Amount is RMB515.27 million, assuming a CNH to SGD FX rate of 0.18.

[4] If the selective capital reduction exercise fails, as defined in the DoU, there is a fall-back plan to ensure the joint venture ends.

[5] See Footnote 1

[6]This is based on the sum paid by Cainiao for QSI’s stake in 4PX (approximately S$92.75), minus the value of QSI shares owned by Alibaba as assessed by KPMG at S$36.89 million.

[7] See Footnote 1

 

Xinhua Silk Road: Series of activities featuring Three Kingdoms culture kick off in C. China’s Xuchang

BEIJING, April 16, 2025 /PRNewswire/ — The opening ceremony of a series of cultural tourism activities featuring the culture of the Three Kingdoms period (220-280) was recently held in the city of Xuchang, central China’s Henan Province.

The opening ceremony of a series of cultural tourism activities featuring the culture of the Three Kingdoms period (220-280) is held in Xuchang, central China's Henan Province, April 10, 2025. (Photo provided by the Publicity Department of the Communist Party of China Xuchang Municipal Committee)
The opening ceremony of a series of cultural tourism activities featuring the culture of the Three Kingdoms period (220-280) is held in Xuchang, central China’s Henan Province, April 10, 2025. (Photo provided by the Publicity Department of the Communist Party of China Xuchang Municipal Committee)

Hosted by the Xuchang municipal government, the activities highlight themed brands and creative cultural experiences, including discussion sessions on the Three Kingdoms culture, cultural gatherings on Hanfu (traditional Chinese attire), public art festivals, gaming carnivals, esports contests, immersive role-playing games, historical character parades, light shows and spring sightseeing tours.

As an ancient capital city during the Three Kingdoms period, Xuchang has so far held 15 annual sessions of the Three Kingdoms Cultural Tourism Week. Starting this year, the event period has been expanded from a week to nearly a month, with this year’s activities running from April 10 to May 5.

During the opening ceremony, Xuchang also collaborated with the cities of Zhengzhou, Luoyang, Anyang, Nanyang, Jiaozuo, Zhoukou and Luohe to promote Three Kingdoms-themed tourism offerings within Henan Province.

Over 12 sessions of the Three Kingdoms Cultural Tourism Week, Xuchang City had held investment promotion activities and seen the signings of 288 investment projects totaling 197.79 billion yuan. Industrial promotion activities, tourism promotions and project signing ceremonies are planned to be held during this year’s event as well.

Original link: https://en.imsilkroad.com/p/345233.html

Meet Nobel Laureates at HKUST: Where Curiosity Connects with Global Scientific Excellence

HONG KONG, April 16, 2025 /PRNewswire/ — The Hong Kong University of Science and Technology (HKUST) recently hosted an engaging dialogue featuring three Nobel Prize winners, drawing nearly 200 students, faculty members and guests on campus, and an additional 2,000 online viewers from sister institutions across Mainland China. The event highlighted HKUST’s dedication to fostering cross-disciplinary innovation, and bridging the local scientific community with global thought leaders.

As part of the Hong Kong World Youth Science Conference and Xiang Jiang Nobel Forum this year, the event titled “Together with the Scientists – Nobel Laureates Visit HKUST” took place on April 14 in collaboration with the Hong Kong Alumni Association of Beijing Universities. The program showcased the groundbreaking insights from three distinguished laureates:

Prof. May-Britt MOSER, 2014 Nobel Prize winner in Physiology or Medicine, recognized for her discoveries of grid cells in the brain’s spatial navigation system.
Prof. Konstantin NOVOSELOV, 2010 Nobel Prize recipient in Physics, acclaimed for his pioneering work on graphene and two-dimensional materials.
Prof. Didier QUELOZ, 2019 Nobel Prize winner in Physics, known for his landmark discovery of the first exoplanet orbiting a sun-like star.

The laureates shared their scientific journeys, emphasizing the importance of curiosity-driven research and their visions for future breakthroughs.

In her opening remarks, HKUST President Prof. Nancy Ip warmly welcomed the guests while extended her heartfelt gratitude to the event organizers and supporting organizations. “Today’s event is not merely an opportunity to meet esteemed scientists, but also a chance to engage with the very essence of scientific inquiry and discovery. Since its founding, HKUST has been committed to fostering innovation, research and knowledge transfer. Our Nobel Laureates exemplify the spirit of curiosity, creativity, and resilience that we strive to nurture at HKUST. I hope their journeys will inspire us to push boundaries, and collaborate across disciplines and borders to advance knowledge for the betterment of society.”

The event included a lively Q&A session that allows students and researchers to interact directly with the laureates, moderated by Prof. Angela WU from Division of Life Science at HKUST, the parties exchanged on topics ranging from materials science to neuroscience and astrophysics.

This gathering reflects HKUST’s longstanding tradition of convening global leaders to promote knowledge exchange, nurture talent, and tackle pressing challenges through cutting-edge research. Last November, HKUST organized a prestigious three-day “Molecular Frontiers Symposium” on campus, showcasing a lineup of internationally renowned scientists, including four Nobel laureates, to spark dialogues and inspire a new generation of innovators.

Download photos here: https://geco.ust.hk/download/press_release/0416_Nobel  

Weibo Publishes 2024 Environmental, Social and Governance Report

BEIJING, April 16, 2025 /PRNewswire/ — Weibo Corporation (“Weibo” or the “Company”) (NASDAQ: WB and HKEX: 9898), a leading social media in China, today announced that it has published its 2024 Environmental, Social and Governance (“ESG”) Report. The ESG report comprehensively showcases the Company’s value creation across various topics, such as social responsibility, technological innovation, information security, employee development, content ecosystem, and green operations, demonstrating Weibo’s long-term commitment to sustainable development.

“We firmly believe that ESG is evolving from a value-driven philosophy into a core competitive advantage for corporate sustainability,” said Mr. Charles Chao, Chairman of the Board of Weibo. “Looking ahead, Weibo remains dedicated to its vision of ‘making the world a better place with the power of Weibo’. We will continue to refine our ESG management framework, improve our governance, and collaborate with all stakeholders to advance global ESG initiatives and build a sustainable and prosperous future for humanity. With unwavering dedication, Weibo is confident in making steady and ongoing progress on its ESG journey, beefing up our efforts into creating a brighter future.”

Weibo 2024 ESG Highlights:

1. Advocating Social Welfare and Leveraging Social Media Value: Over 24,000 Public Welfare Projects Launched on the Weibo Charity Platform

Leveraging the value proposition of social media platform, Weibo actively fulfills social responsibilities together with its user community. The platform actively champions social causes, such as emergency disaster relief, rural revitalization, traditional Chinese culture promotion, and care for underprivileged communities. By the end of 2024, the Weibo Charity Platform had launched over 24,000 public welfare projects, attracting over 51 million individual donations, with total contribution exceeding RMB 760 million. Weibo has established a widely connected social-collaborative network that facilitates real-time information exchange. In response to emergencies such as pandemics, floods, and earthquakes, Weibo has quickly mobilized resources, creating a comprehensive emergency response mechanism that integrates publicity, action, and resource mobilization.

Additionally, leveraging its diverse content ecosystem and matrix of professional accounts, Weibo continues to promote rural revitalization and traditional Chinese culture. In 2024, Weibo initiated over 1,000 topics related to rural revitalization, generating over 20 billion views and over 5 million discussions. Weibo has also collaborated with the Ministry of Culture and Tourism, intangible cultural heritage inheritors, celebrities, top content generators, public welfare organization and business enterprises, etc. to launch the #Revitalize Intangible Cultural Heritage Plan#, enhancing the influence of intangible cultural heritage.

2. Creating Community Value through Diverse Content Ecosystem and Empowering Product Experience with Technological Innovation: Content in Comprehensive Media Formats Covering 39 Verticals and Self-Developed “Zhiwei” Large Language Model

Weibo actively enriches its vertical content ecosystem and beefs up support for quality content creators, striving to provide users with rich, diverse, and high-quality multimedia content.

As of 2024, Weibo has fostered a comprehensive content ecosystem covering 39 verticals, including entertainment, sports, game, digital, and automobiles, etc., which forms multiple interest circles and social ecosystem to fulfill the diversified content consumption needs of our user community. In 2024, Weibo officially launched its audio feature and support the growth and development of audio content creators.

With a vibrant vertical content ecosystem, Weibo also embraces the trend of artificial intelligence (AI) and explores the application of AI technology across various business scenarios. In 2024, Weibo’s proprietary “Zhiwei” large language model successfully completed registration. We also rolled out AI-powered features, such as Weibo Intelligent Search, content summary, and AI interaction accounts, to optimize user experience, facilitate content generation and enhance interaction efficiency.

3. Building an Equal and Diverse Workplace and Empowering Employee Development: Female Employees Account for 53% of Total

Weibo champions equality and diversity in daily operations and is committed to creating an equal, inclusive, and healthy work environment through management policies, clear organizational structures, and training activities.

During the recruitment process, Weibo ensures that female candidates have equal opportunities. By the end of 2024, female employees accounted for 53% of total employees, with women occupying 47% of STEM1-related positions. Women hold various leadership roles within the company, including senior management positions and board members.

Weibo has established a comprehensive talent training system, achieving a 100% employee training coverage rate, with an average training duration of approximately 28 hours per employee in 2024. We provide employees with ample development opportunities, competitive package, and care programs, enhancing their sense of belonging and recognition. In 2024, our employee dedication rate was 84%, according to our annual employee satisfaction survey. Weibo has also won several outstanding employer awards.

4. Practicing Low-Carbon Development and Building Sustainable Data Centers: 39% Reduction in Scope 3 Greenhouse Gas Emissions Over Three Years

Weibo is firmly committed to low-carbon development, integrating green operations into its core business strategies. We endeavor to save energy and reduce carbon footprint across our data centers, daily operations, as well as supply chain. In 2024, Scope 3 greenhouse gas emissions were reduced by 39% compared with 2021, when we published our first ESG report.

Weibo is dedicated to building sustainable data centers, with the two main data centers in the BeijingTianjinHebei region designed with a Power Usage Effectiveness (PUE) of 1.2, with 50% green power usage. In 2024, Sina Plaza, the headquarter of Weibo, further gained LEED Platinum certification for operations by refining green management, on top of the LEED Platinum-level green building certification obtained in construction phase.

Weibo also leverages its platform influence to hold diverse environmental protection-themed activities and educational initiatives. Connecting celebrities, e-sports KOLs, experts, and well-known enterprises, we help amplify the voices of environmental organizations.

5. Enhancing Corporate Governance and Strengthening Responsible Platform: Participation in Multiple Industry Standard Formulations 

Weibo continuously optimizes its information security management system and safeguards user privacy, fostering a trustworthy and responsible platform. Additionally, Weibo actively engages in industry communication and co-construction and takes an active role in shaping industry standards. In 2024, Weibo participated in the formulation of 11 industry standards and 17 group standards in the areas of information security and privacy protection. Weibo also contributed to the formulation of Self-Regulatory Initiative for AI Generated Content, which aims to call on the industry to reach a consensus and jointly advance the healthy development of the generative AI sector, with focus on data security, privacy protection and content ecosystem.

Weibo’s 2024 ESG report is available in both Chinese and English. For more information on our ESG reports and policies, please visit http://ir.weibo.com.

Note: STEM refers to Science, Technology, Engineering and Mathematic.

About Weibo

Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. The Company generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Designed with a “mobile first” philosophy, Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. To support the mobile format, we have developed and continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

Contacts
Investors Relations
Weibo Corporation
Tel: +86-10-5898-3336
Email: ir@staff.weibo.com

AB DAO and Bitget Launch Dual Reward Campaign, Distributing $2.6M Worth of $AB Globally

SINGAPORE, April 16, 2025 /PRNewswire/ — Today, AB DAO officially announced the launch of a dual reward campaign in collaboration with Bitget (bitget.com), the world’s second-largest digital asset trading platform. In celebration of AB’s Token Generation Event (TGE), the campaign will distribute a total of 213,307,000 $AB, valued at approximately $2.6 million USD, to users worldwide—aiming to ignite participation and accelerate ecosystem activation.

Campaign 1: PoolX Staking – Stake AB & BGB to Earn $AB Airdrops
Staking Period: April 16, 2025, 10:00 – April 30, 2025, 10:00 (UTC+8)
Total Airdrop Pool: 135,173,000 $AB

Campaign 2: CandyBomb – Trade AB or BGB to Win $AB Airdrops
Event Period: April 16, 2025, 10:00 – April 23, 2025, 10:00 (UTC+8)
Total Airdrop Pool: 78,134,000 $AB

Official Bitget Event Announcement:
https://www.bitget.com/zh-CN/support/articles/12560603825693

In addition to this incentive campaign, AB DAO and Bitget will jointly execute a global co-marketing initiative, with a focus on key markets such as Southeast Asia, Europe, the Middle East, and North America. This partnership aims to expand AB’s visibility and presence across the global Web3 ecosystem.

The initiative marks a key milestone in AB DAO’s global expansion strategy. Moving forward, AB DAO will continue to onboard new trading platforms and ecosystem partners, accelerating the development of an open and inclusive Web3 infrastructure.

AB DAO’s Mission: Empower 100 Million People Worldwide to Hold $AB

Official Website: https://ab.org

Global Community Portal: https://www.ab.org/zh/community

From Protection to Prosperity: InsureXpo by CIMB 2025 Empowers Singapore Residents to Achieve Financial Independence

  • The second run of the event brings together major insurers and financial experts under one roof to help individuals take charge of their financial wellbeing at every stage of life.
  • CIMB Singapore launches a report on Singapore residents’ perceptions and behaviours towards financial planning.

SINGAPORE, April 16, 2025  /PRNewswire/ — InsureXpo by CIMB successfully concluded its second edition on 12 April 2025 at the Suntec Convention Centre. Quadrupling the number of attendees from last year, the event brought together leading industry experts from insurers such as Singlife, FWD, Income and AIA, as well as community partners like Central Provident Fund (CPF) Board, Singapore Police Force, Mindline (by Ministry of Health) and National Youth Council.

Crowd at InsureXpo by CIMB 2025 (Photo credit: CIMB Singapore)
Crowd at InsureXpo by CIMB 2025 (Photo credit: CIMB Singapore)

Themed “From Protection to Prosperity”, the event served as a platform for individuals to exchange strategic insights and make meaningful connections with experts to explore the role of insurance beyond a protection tool and maximise its use to create a pathway to prosperity.

In his opening address, Victor Lee, CIMB’s CEO of Growth Markets and Singapore said, “We believe that financial literacy should be second nature to everyone. Whether you’re an experienced investor, a young professional just starting your career, or someone planning for retirement, we are committed to providing you with the tools and knowledge to make informed decisions and build a more secure financial future. This year, we are proud to support SG60’s mission of building financial resilience across Singapore, with a special focus on equipping our youth with the skills to navigate their financial futures with confidence.”

Keeping Insurance Premiums Affordable Amid Rising Living Costs and Aging Population

During the panel discussion featuring insurance partners – Singlife, FWD, Income and AIA – panellists explored the shifting insurance landscape in an era marked by rising living costs and an aging population. As claims and healthcare expenses surge, insurers are innovating to balance between rising costs and comprehensive coverage. One way to do so, is by digitalising and using insurtech to improve cost efficiency and maintain affordability, without compromising the human touch in insurance services. In addition, data analytics is also used to optimise risk assessment and pricing strategies.

Attendees also participated in a series of talks and panel discussions on pertinent financial topics. This includes securing financial freedom through insurance and CPF, achieving F.I.R.E[1], legacy planning for future generation, and other financial tips, featuring speakers like Dawn Cher (aka SG Budget Babe), and He Ruiming and Goh Wei Choon (aka The Woke Salaryman).

This purely educational conference sets the stage for Singaporeans to elevate their financial know-hows and become more confident in navigating their financial future.

Study: Younger Generation Striving For Early Financial Independence and Confident in Achieving Financial Goals 

Prior to the event, CIMB Singapore announced the findings of a study that revealed Singapore residents’ perceptions and behaviours towards financial planning. A growing number of younger Singapore residents are striving for early financial independence and demonstrating strong confidence in achieving their goals. Of the respondents under the age of 30, 60% aim to achieve financial independence before the age of 40, and 54% expressed confidence in their financial management skills. However, only 39% of respondents aged 40 to 50, and 43% of those aged 50 to 60, report feeling confident in managing their finances. Respondents under 30 are also most willing to seek financial planning advice (54%), compared to the 40 to 50 (35%), and 50 to 60 (28%) age groups.

This signals a clear generational divide in financial confidence and preference for financial advice, underscoring the need for a tailored approach to financial planning and requirement for financial service providers to understand the unique challenges faced by customers across different life stages.

The “CIMB Singapore: Attitudes and Beliefs towards Financial Independence Report 2025”, done in collaboration with the Nanyang Centre for Marketing and Technology[2], captured insights from over 500 Singapore residents aged 26-60 on their perspectives towards financial independence and retirement planning last December.

-END-

About CIMB

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider by assets, with a market capitalisation of approximately RM88.0 billion as at 31 December 2024 and is listed on Bursa Malaysia. The Group is present in seven ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines). Singapore is one of its most important markets with approximately 1,000 employees serving clients across consumer, commercial, wholesale and transaction banking products and services. 

CIMB is committed to providing customers with an extensive range of sustainable finance solutions as guided by the Group’s Green, Social, Sustainable Impact Products and Services (“GSSIPS”) framework, an internal taxonomy set by the Group to deliver impactful sustainable finance. The Group tripled its sustainable finance target to RM100 billion by 2024, a substantial increase from its RM30 billion target previously announced in 2021. CIMB is on track to achieving its RM100 billion target, recording over RM80 billion in sustainable finance, as of December 2023.

[1] F.I.R.E. stands for Financial Independence and Retire Early. It is a movement focused on achieving financial freedom early, rather than waiting for traditional retirement age.

[2] The Nanyang Centre for Marketing and Technology is a research centre under the Nanyang Business School.