- August 6, 2025Business
CAGAMAS LAUNCHES MALAYSIA’S FIRST GREEN MORTGAGE GUARANTEE PROGRAMME
Cagamas Berhad (“Cagamas” or “the Company”), the National Mortgage Corporation of Malaysia, announced the launch of its latest initiative, the Green Mortgage Guarantee Programme (Green MGP) , marking a significant milestone in Malaysia’s journey towards sustainable and inclusive housing finance. The product will be offered through its sister company, Cagamas SRP Berhad (“Cagamas SRP”). The Green MGP is designed to support financial institutions in expanding their green lending portfolios while promoting environmentally conscious homeownership. This innovative product offers mortgage guarantees for residential properties that are either certified as “green” or “sustainable,” as well as for homes with green enhancements, thereby aligning housing finance with Malaysia’s climate goals under the Twelfth Malaysia Plan and the national commitment to achieve net zero emissions by 2050. “The Green MGP is more than just a product – it’s a reflection of our commitment to a greener Malaysia. By incentivising green homes and reducing financing risks, we aim to make sustainable living more accessible and reshape the future of Malaysia’s housing and financial landscape,” said Encik Kameel Abdul Halim, President/Chief Executive Officer of Cagamas Berhad. Building on the success of previous housing guarantee schemes such as Skim Rumah Pertamaku , Skim Perumahan Belia and the new First Home Mortgage Guarantee Programme , which have enabled over 100,000 Malaysians to own their first homes, the Green MGP introduces a new dimension of environmental responsibility. It provides financial institutions with a risk mitigation tool that supports ESG-aligned lending practices, while offering homebuyers better financing options for sustainable properties. Encik Kameel added, “We recognise that for many institutions, ESG compliance is no longer optional. Through this programme, we hope to support our banking partners in meeting evolving sustainability standards while continuing to promote affordable home ownership.” The Green MGP is open to financial institutions nationwide. Cagamas and Cagamas SRP invite all financial institutions to participate in this transformative journey towards a more resilient and sustainable housing ecosystem. About Cagamas Cagamas Berhad (“Cagamas”), the National Mortgage Corporation of Malaysia, was established in 1986 to promote the broader spread of home ownership and growth of the secondary mortgage market in Malaysia. It issues bonds and sukuk to finance the purchase of housing loans from financial institutions and non-financial institutions. The provision of liquidity to financial institutions at a reasonable cost to the primary lenders of housing loans encourages further expansion of financing for houses at an affordable cost. The Cagamas model is well regarded by the World Bank as the most successful secondary mortgage liquidity facility. Cagamas is the second largest issuer of debt instruments after the Government of Malaysia and the largest issuer of AAA corporate bonds and sukuk in the market. Since incorporation in 1986, Cagamas Group has cumulatively raised circa RM465 billion worth of corporate bond/sukuk and others. Cagamas’ bonds and sukuk continue to be assigned the highest ratings of AAA/Stable/P1 by RAM Rating Services Berhad and AAA/MARC-1 and AAAIS/MARC-1IS by MARC Ratings Berhad, denoting its strong credit quality. Cagamas is also well regarded internationally and has been assigned local and foreign currency long-term issuer ratings of A3 by Moody’s Investors Service Inc. that are in line with Malaysian sovereign ratings. Cagamas Berhad Registration No. 198601008739 (157931-A) Level 32, The Gardens North Tower Mid Valley City, Lingkaran Syed Putra 59200 Kuala Lumpur Tel: +603 - 2262 1800 I Fax: +603 - 2282 9125 www.cagamas.com.my Media Enquiries Lucia Wee Tel: +603 - 2262 1868 Email: communications@cagamas.com.my
- August 6, 2025Business
AXIS-REIT ACQUIRES WAREHOUSE FACILITY IN KLANG FOR RM80.0 MILLION
Axis Real Estate Investment Trust’s (“ Axis-REIT ”) trustee, RHB Trustees Berhad has entered into a sale and purchase agreement with TS Worldwide Warehousing Sdn. Bhd. to acquire a warehouse facility located in Telok Gong, Klang for a total cash consideration of RM80.0 million. The property comprises two warehouse blocks with annexed office buildings and ancillary structures, situated on approximately 10.19 acres of leasehold industrial land, with a net lettable area of approximately 259,310 square feet. It is currently fully occupied by Tuck Sun Logistics Sdn. Bhd. and will be leased to the same tenant under a fixed lease term of 6 years comprising an initial term of 3 years and a second term of 3 years, with an initial monthly rental of RM425,764.40, subject to agreed step-up during the second term. Strategically located within Kawasan Perindustrian Telok Gong, the property enjoys excellent accessibility to major highways such as Pulau Indah Highway, Shah Alam Expressway (KESAS), and West Coast Expressway. Its proximity to Klang city centre, Shah Alam, Petaling Jaya, and Kuala Lumpur further enhances its appeal as a prime logistics and industrial hub. The acquisition will be funded by existing bank facilities, and is expected to increase Axis-REIT’s financing ratio to 34.3% of audited total assets as at 31 December 2024. Axis REIT Managers Berhad chief executive officer/executive director Leong Kit May said, “This acquisition is in line with our investment strategy to grow our portfolio with high-quality, income-accretive assets. The property is located in an established industrial area and within proximity of two major ports namely, Northport and Westport. Upon completion of this acquisition by end 2026, we are confident that this asset will strengthen our recurring income base and contribute positively to our earnings.” About Axis Real Estate Investment Trust Axis Real Estate Investment Trust (“Axis-REIT”), Malaysia’s first real estate investment trust, was listed on Bursa Securities on 3 August 2005. Having been reclassified as an Islamic REIT on 11 December 2008, all acquisitions by Axis-REIT are Shariah compliant. It has a diverse portfolio of 68 properties strategically located in the Klang Valley, Johor, Penang, Pahang, Negeri Sembilan and Kedah as at 30 June 2025. Axis REIT Managers Berhad is the Manager of Axis- REIT while RHB Trustees Berhad is the trustee of Axis-REIT. Axis-REIT has a solid industrial space portfolio. As at 30 June 2025, the occupancy rate of Axis- REIT’s portfolio stood at 97% with a weighted average lease expiry period of 4.6 years, based on rental. The total space under management is 15.11 million square feet and total asset value of RM5.21 billion. For more information, please log on to http://www.axis-reit.com.my.
- August 6, 2025Business
MOVE Supports ASEAN Tourism with ‘Explore Asean' SNAP! Campaign
MOVE, Asean’s homegrown online travel agency (OTA) platform, launched its “ Explore Asean ” SNAP! (Flight + Hotel) campaign in celebration of the upcoming ASEAN Day. The announcement was made during the ASEAN National Tourism Organizations (NTOs) and Related Meetings held today in Boracay, Philippines. The campaign offers bundled flight and hotel deals, designed to encourage more seamless, affordable, and accessible travel across Southeast Asia. In the spirit of ASEAN Day, “Explore Asean” invites travellers to discover the region’s vibrant cultures, hidden gems, and unique experiences through the MOVE app. Travellers can also enjoy RM60* OFF their SNAP! bookings by using the promo code SNAPNOW on the app. As an OTA born in Asean and for Asean , MOVE connects travellers to over 700 airlines , one million hotels , airport transfers, travel insurance, and even concerts and sport events, all through one mobile-first app designed for the new generation of Asean travellers. Ravi Shankar, Chief Marketing Officer at MOVE, s hared the deeper meaning of the campaign, “It reflects our active commitment to making travel more inclusive, more affordable, and more meaningful for everyone in the region. And at MOVE, our goal is simple: to enable everyone to Travel More for Less .” He continued, “‘Explore Asean isn’t just about offering deals, it’s about opening doors. Asean is not just a collection of countries, but a connected future waiting to happen.” Sharing the vision of ASEAN’s tourism agenda, MOVE continues to support efforts that open and connect the region, not only to its neighbors but also to the world. *Terms & conditions applied
- August 6, 2025Select
Galaxy Hotels Group partners with G6 Hospitality to Expand Motel 6 & Studio 6 Portfolio
Galaxy Hotels Group today announced the addition of 10 hotels to G6 Hospitality’s franchise network with more to be added in the coming months. As part of this deal, 10 hotels with over 1300 keys in all will become part of Motel 6 and Studio 6. Noteworthy additions include Studio 6 Suites Las Vegas (308 rooms), Motel 6 Las Vegas – I-15 Stadium (139 rooms), and Motel 6 Las Vegas – Boulder Highway (160 rooms). The Studio 6 Suites Las Vegas property, with over 300 rooms, will be one of the largest Studio 6 hotels in the U.S. This hotel not only offers in-room microwaves and fridges, but it is also situated at a prime location directly on the Las Vegas Strip, providing easy access to the heart of the city’s entertainment. Motel 6 Las Vegas – I-15 Stadium is located just under a mile from the Las Vegas Strip and Allegiant Stadium. This Motel 6 is prized for its close proximity to major venues while still offering budget stays for travelers. The full portfolio also spans Motel 6 hotels in Modesto and San Jose (California), Lakewood, Fort Collins, Thornton, and Colorado Springs (Colorado), and Santa Rosa. Founded in 1999 and headquartered in Texas, Galaxy Hotels Group is a leading hotel management company that operates over 41 hotels in the US. On an annual basis, one of the Galaxy Hotels Group hotels, part of the G6 Hospitality network generates ~$8–10 million in revenue. The full portfolio with G6 Hospitality is expected to reach approximately $50 million revenue mark. “This partnership marks a new chapter in our mission to deliver modern, value-driven hospitality—as we now proudly rejoin G6 Hospitality. Having previously moved from Choice Group/ Park Inn by Radisson, a leading brand, we’ve closely compared the performance of various franchises. Our experience and data show that G6 brands consistently outperform others in guest satisfaction and value—this is why we’re back.” said Carlos Cuevas, COO from Galaxy Hotels Group. About Galaxy Hotels Group Frisco, Texas-based Galaxy Hotels Group is a growing hotel management company focused on unparalleled internal and external guest experiences and a commitment to sustainability. Galaxy operates hotels across nine U.S. states, representing well-known brands, including Choice Hotels International, G6 Hospitality, Hilton, IHG, and Marriott, among others. To maintain a competitive edge, Galaxy utilizes advanced technology to be efficient, streamline operations, support proper training of team members, and ensure guest satisfaction. Galaxy-managed hotels strive to be the preferred choice for discerning guests seeking an ideal blend of sophistication, comfort, and personalized attention. For more information about Galaxy Hotels Group, visit www.galaxyhotelsgroup.com Media Contact: Name: Anupriya Email: anupriyadharma@gmail.com
- August 5, 2025Business
OYO Adds 150 Hotels in the U.S. in 2025, on Track to Add 150 More by Year-End
OYO, a leading global hospitality technology company, announced today that it has added over 150 new hotels to its OYO U.S. portfolio in the first half of 2025. With a strong pipeline of signed properties, OYO is poised to add 150 more hotels by the end of the year. The new hotels have added in Texas, Virginia, Georgia, Mississippi, California, Michigan and Illinois. OYO is also focussing on adding high inventory properties and has added 10 properties with over 100 rooms. Among the most significant recent additions are a 400-room oceanfront premium resort (Palette Sunset Waves Resort) at Myrtle beach, South Carolina; a 130-room hotel (Capital O Kings Inn) in Memphis Tennessee, a 130-room hotel Travellers Inn by OYO in Douglas, Georgia, and a 140-room hotel (Jackson Hotel and Convention Center) in Jackson, Tennesse, all of which was previously operating as independent hotels. Going forward, OYO will continue to accelerate its U.S. portfolio growth through organic expansions, partnership-driven signings, and strategic conversions. The company is also investing in its technology to further enhance the traveller and partner experience, with upcoming upgrades to its mobile app, AI-powered pricing, and loyalty rewards programs. Additionally, OYO is exploring new urban and suburban markets across the Sun Belt and Great Lakes regions-areas with strong demand and untapped potential. Nikhil Heda, Head of Development, OYO US , said, "2025 is shaping up to be a busy year for all if us at OYO. We are helping our hotel owners unlock revenue growth and operational efficiency through our technology. Our expanded portfolio gives travelers more choice and value, while our direct channel momentum shows that OYO is becoming a trusted hospitality brand for both new and returning guests." About OYO OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 185,000 hotel and home storefronts in more than 35 countries, including India, Europe, Southeast Asia, and the United States. For more information, visit www.oyorooms.com/us . Press Contact: Anupriya Malik Anupriya.d@oyorooms.com SOURCE: OYO
- July 31, 2025Business
CATL and BASF Battery Materials Sign a Framework Agreement for Cathode Active Materials
CATL and BASF have signed a framework agreement for cathode active materials. Under the agreement, BASF will cooperate with CATL on a global scale. CATL has selected BASF as its important supplier. BASF will support CATL's global layout through its global production network. BASF is a leading global chemical company with deep expertise in materials science and sustainability. As a global leader in advanced cathode active materials for lithium-ion batteries, BASF Battery Materials business combines cutting-edge R&D with a strong production network to deliver high-performance, tailored solutions that meet the high standards of industry leaders like CATL. "We are proud to work with CATL, a global market leader in battery technology. Our diversified and local production footprint for innovative cathode materials will support CATL's global business development," said Dr. Daniel Schönfelder, President of BASF's Battery Materials division. "We are committed to the global battery industry and continue leveraging partnerships like the one between CATL and BASF Battery Materials." This agreement builds on the collaborative foundation laid in 2021, when the two companies entered into a strategic partnership on battery materials solutions, including cathode active materials and battery recycling, with the shared goal of developing a sustainable battery value chain.
- July 30, 2025Business
CLCT posts 1H 2025 net property income of RMB580.3 million
CapitaLand China Trust (CLCT) reported a net property income (NPI) of RMB580.3 million for the six months ended 30 June 2025 (1H 2025). NPI was impacted by lower gross revenue, partially mitigated by a 2.5% year-on-year (y-o-y) reduction in operating expenses across CLCT’s overall portfolio. In 1H 2025, CapitaLand China Trust enhanced its portfolio by upgrading three retail malls, transforming former anchor supermarket spaces into higher-yielding concepts. CapitaMall Xuefu in Harbin (as pictured) had its space reconfigured to house a local supermarket operator, B.U.T., alongside an animation, comics and gaming street. Within a month of the supermarket’s June opening, mall tenant sales rose by more than 33% y-o-y. The decrease in gross revenue was attributed to lower contributions from the retail portfolio, largely due to ongoing supermarket upgrades at three retail malls, and lower occupancy at the business parks portfolio. This was partially offset by stronger performance from the logistics parks portfolio, which recorded a 2.0% y-o-y increase. CLCT’s 1H 2025 Distribution Per Unit (DPU) was 2.49 Singapore cents. The lower DPU resulted from a decline in NPI and the weakening of the Renminbi (RMB) against the Singapore Dollar (SGD), which was partially offset by savings in finance costs. Including distributions from CapitaMall Yuhuating, which were retained1 in view of its divestment to CapitaLand Commercial C-REIT (CLCR) as a seed asset, the DPU would have been 2.59 Singapore cents. On 29 July 2025, CLCT obtained Unitholders’ approval for the divestment of CapitaMall Yuhuating to CLCR for no less than the minimum floor price of RMB748 million (approximately S$134.9 million) and CLCT’s subscription for a 5% strategic stake in CLCR. With Unitholders’ approval received, CLCT, together with its sponsor CapitaLand Investment and CapitaLand Development, who are joint strategic investors in CLCR, will proceed to seek the local authorities’ approval for the listing of CLCR targeted around 3Q/4Q 2025. CLCT’s receipt of the gross proceeds from the divestment is subject to and shall take place after the completion of the CLCR offering. Mr Gerry Chan, CEO of CLCTML, the manager of CLCT, said: “Despite ongoing economic headwinds in China, our portfolio continues to demonstrate resilience. Our retail occupancy remained high at 96.9% in 1H 2025, while we increased the occupancy of our business parks and logistics portfolio by proactively attracting tenants in key sectors aligned with China’s technology ambitions. In 2025, we are prioritising the repositioning of our retail malls with unique and customer-centric offerings to address changing shopper preferences. By focusing our business parks and logistics parks on sectors aligned with the government’s priorities, we are well-positioned to capture policy-driven opportunities as China pursues high-quality growth.” “We remain focused on seizing opportunities in China’s domestic market, including our strategic participation in the C-REIT, which offers new capital recycling pathways and attractive growth potential. The divestment of CapitaMall Yuhuating will unlock value from a mature retail asset, enhance our financial flexibility and strengthen our balance sheet. Through CLCT’s strategic stake in CLCR, we will continue to enhance long-term, sustainable returns for our Unitholders." "As part of our disciplined capital management, we have leveraged the easing interest rates in China to increase our RMB-denominated debt. The RMB share of total debt rose from 27% in 1H 2024 to 41% in 1H 2025, and we remain on track to meet our 50% target by end 2025. This strengthens our natural hedging position, mitigates foreign exchange fluctuations and optimises funding costs,” added Mr Chan. Mr Gerry Chan, CEO of CLCTML CapitaMall Wangjing Operating performance As at 30 June 2025, CLCT’s retail portfolio occupancy stood at 96.9%. Footfall across the retail portfolio increased by 1.0% y-o-y, while tenant sales rose by 0.1% y-o-y, moderated by ongoing asset enhancement initiatives. Excluding sales from supermarkets in CapitaMall Xuefu in Harbin, and CapitaMall Wangjing and CapitaMall Xizhimen in Beijing, where upgrades are underway, tenant sales would have increased by 2.5% y-o-y. Sales in key trade sectors such as Toys & Hobbies, Jewellery & Watches and Information & Technology increased by 46.0%, 18.0% and 17.8% y-o-y, respectively. This was mainly due to the government’s policies supporting domestic consumption, the rising popularity of the collectible toy market, as well as the continued demand for gold products. Occupancy of CLCT’s business parks grew from 83.7% as at 31 March 2025 to 86.9% as at 30 June 2025, matching or outperforming sub-market levels despite oversupply. CLCT’s logistics parks continued to demonstrate resilience with occupancy rate rising to 96.6% as at 30 June 2025 from 95.7% as at 31 March 2025. Three out of four logistics assets are fully leased. Asset enhancement initiatives In 2025, CLCT is focused on converting traditional anchor supermarket areas in CapitaMall Xuefu, CapitaMall Wangjing and CapitaMall Xizhimen into higher-yielding, customer-centric retail concepts to unlock higher rental value. These conversions aim to enhance the trade mix and improve shopper experience. CapitaMall Xizhimen At CapitaMall Xuefu , approximately 8,700 sqm has been reconfigured to house a leading local supermarket operator, B.U.T., alongside an animation, comics and gaming street designed to attract younger shoppers. The conversion has increased total rent by approximately 13.1%. Within one month of the supermarket’s opening on 18 June 2025, mall tenant sales rose by more than 33% y-o-y. The themed street is scheduled to launch in 3Q 2025 and is already fully leased. Approximately 8,800 sqm of space at CapitaMall Wangjing is being transformed to introduce a new retail concept, 7Fresh by JD.com, and 17 popular retail and F&B outlets. The revitalised area is expected to open in 4Q 2025, with a target return on investment of approximately 10%. CLCT has secured close to 78% pre-leasing commitment for the converted space (by net lettable area), with an additional 9% under advanced negotiations, reflecting robust market interest. At CapitaMall Xizhimen , approximately 10,100 sqm will be converted to house a premium supermarket, multi-brand boutiques targeted at mid- to high-end consumers, and curated social spaces. The completion of the converted space is targeted for 4Q 2025. Proactive capital management As part of its disciplined capital management strategy, CLCT continued to maintain a strong balance sheet with a well-staggered debt maturity profile and diversified sources of funding. As at 30 June 2025, CLCT’s cost of debt stood at 3.42% per annum, reflecting a reduction of 9 basis points from 31 March 2025. CLCT maintained a healthy interest coverage ratio of 2.9 times, while gearing remained stable at 42.1%, below the regulatory limit of 50%. CLCT completed the refinancing of all loans due in FY 2025. As at 30 June 2025, the average term to maturity of its borrowings was 3.6 years. To mitigate interest rate fluctuations, 87%2 of CLCT’s total debt is on fixed interest rates. In April 2025, CLCT issued a RMB600 million bond due 2028 at 2.88% per annum. As at 30 June 2025, the proportion of its RMB denominated loan facilities stood at 41% of its total debt, on track to meeting its 50% target by end 2025. Sustainability initiatives In line with CLCT’s commitment to sustainability, it has obtained LEED Gold certification for the R&D blocks of Ascendas Xinsu, a business park in Suzhou. This increased CLCT’s green-certified properties to 68% of its total portfolio as at 30 June 2025. The proportion of CLCT’s sustainability-linked loans increased from 33% as at 30 June 2024 to 51% as at 30 June 2025, reflecting the Trust’s continued focus on sustainable financing. Distribution schedule CLCT’s record date for 1H 2025 income distribution is 7 August 2025. The payment date for 1H 2025 DPU of 2.49 Singapore cents is 24 September 2025. -------------------------------- 1. The amount retained refers to the distribution contributed from CapitaMall Yuhuating from 1 April 2025 to 30 June 2025 (2Q 2025) attributable to CLCR, assuming that the initial PRC valuation date pertaining to the divestment to CLCR is 31 March 2025. 2. Assuming RMB debts are fixed.
- July 30, 2025Business
JD.com Ranks 44th in 2025 Fortune Global 500, Marking a Decade of Value Creation
JD.com is pleased to announce its ranking at 44th on the Fortune Global 500 list for 2025, climbing three spots from the previous year. This achievement marks a decade of JD’s inclusion on the list and underscores its consistent growth, highlighting its standing among the world’s largest companies by revenue. Since joining the Fortune Global 500 in 2016, JD.com has achieved a series of impressive milestones. The company has quadrupled its customer base and expanded its network of brand and merchant partners by over tenfold. Its workforce has grown from 100,000 to approximately 900,000 employees by Q1 2025, including delivery couriers, customer service teams, and other vital roles. These achievements reflect JD.com’s unwavering commitment to delivering value, driving innovation, and enhancing lives through technology and collaboration. Recently, JD.com has accelerated its global expansion through the 10 Billion Growth Plan for its cross-border e-commerce business. The project aims to introduce 1,000 new overseas brands to China over the next three years and reach over 10 billion RMB ($1.4 billion) in sales growth. JD’s European online retail platform operates locally in the Netherlands, France, the UK and more locations with warehouses and staff to offer swift delivery of high-quality products and reliable services to local customers. Additionally, JD Logistics plans to double its overseas warehouse capacity by the end of 2025, further strengthening its global supply chain to meet increasing demand. Guided by its vision to be the most trusted company in the world and its mission to make life better through technology, JD.com is dedicated to building an innovative, inclusive, and sustainable ecosystem. We invite customers, partners, and communities worldwide to join us in creating a brighter, more connected future. (vivian.yang@jd.com)
- July 30, 2025Business
Towngas Lifestyle secures strategic funding from Oriza FOFs and FountainVest to enhance products and services
Towngas Lifestyle, a wholly-owned subsidiary of The Hong Kong and China Gas Company Limited (Towngas), responsible for extended business operations, recently held a signing ceremony for its strategic funding round. The investment, jointly led by investment institutions Oriza FOFs and FountainVest, will help Towngas Lifestyle accelerate business expansion, enhance product competitiveness, and strengthen its AI and IoT platform capabilities, advancing its strategic vision of becoming the most trusted lifestyle platform for customers. As leading investment institutions, Oriza FOFs and FountainVest bring extensive industry experience and a broad network of resources. Their support demonstrates strong market confidence in Towngas Lifestyle’s business model and growth potential, laying a solid foundation for the company’s nationwide expansion. Speaking at the ceremony, Mr Peter Wong Wai-yee, Managing Director of Towngas, expressed that he hopes this strategic funding would help replicate Hong Kong’s successful extended business model in the vast market of the Chinese mainland. “As a century-old enterprise, Towngas began exploring extended business opportunities 60 years ago, designing and manufacturing appliances suited to Hong Kong users’ needs, as well as developing a home merchandise business and premium kitchen cabinets. Today, we’ve earned an excellent reputation and market share in Hong Kong through customised gas appliances and professional services. With 45 million household gas customers across the Chinese mainland and Hong Kong, serving nearly 120 million people, the market potential is enormous. This funding round confirms investors’ confidence in Towngas Lifestyle’s direction and business prospects, and we look forward to providing more families with superior products and services.” Ms Xu Qing, Managing Partner of Oriza FOFs, noted that this collaboration represents more than just a union of capital and industry – it demonstrates a collective commitment to digital home consumption upgrade. “We believe Towngas Lifestyle can carve out new territory in the mainland market, which is our shared goal. The market is changing rapidly, creating more opportunities, so I’m very confident about this partnership.” Mr Frank Tang Kui, Founder, Chairman and CEO of FountainVest, praised Towngas as a reputable company that has consistently provided reliable, customer-focused products and services, making it a trustworthy partner. “Beyond its traditional business, Towngas has fostered innovative and pioneering companies like Towngas Lifestyle, generating additional revenue and profit streams whilst serving millions of households. We hope to leverage our networks, resources and teams to accelerate Towngas Lifestyle’s growth.” Mr Yang Jun, Chief Operating Officer – Extended Business of Towngas and Executive Director & General Manager of Towngas Lifestyle, emphasised that this funding marks just the beginning: “We must maintain our entrepreneurial spirit in facing challenges, drawing on Hong Kong’s experience to enhance our overall service standards. Moving forward, Towngas Lifestyle will stay close to customers whilst taking major strides in development. Through our investment partners’ resources, we’ll transform from a traditional sales model to a comprehensive user-centric service model, providing one-stop lifestyle solutions that create greater value for customers.” Marking Towngas Lifestyle’s tenth anniversary this year, this funding round signals the company’s entry into a new phase of development. Towngas Lifestyle will seize this opportunity to work with partners in delivering smarter, more convenient products and services to customers. - END - Press photos: Photo 1: Witnessed by Mr Peter Wong Wai-yee (centre, back row), Managing Director of Towngas; Ms Xu Qing (2nd from left, back row), Managing Partner of Oriza FOFs; Mr Frank Tang Kui (2nd from right, back row), Founder, Chairman and CEO of FountainVest (back row, second right); Mr Edmund Yeung Lui-ming (1st from right, back row), Executive Director and Chief Financial Officer of Towngas; and Mr Alan Chan Ying-lung (1st from left, back row), Executive Director and Chief Investment Officer of Towngas, the funding agreement is signed by Mr Yang Jun (centre, front row), Chief Operating Officer – Extended Business of Towngas and Executive Director & General Manager of Towngas Lifestyle; Mr Xu Zhenyu (left, front row), Investment Director of Oriza FOFs (front row, left); and Mr Evan Chen (right, front row), Managing Director of FountainVest. Photo 2: Mr Peter Wong Wai-yee, Managing Director of Towngas, expresses that he hopes this strategic funding will help replicate Hong Kong’s successful extended business model in the vast market of the Chinese mainland. Photo 3: Ms Xu Qing, Managing Partner of Oriza FOFs, notes that this collaboration represents more than just a union of capital and industry – it demonstrates a collective commitment to digital home consumption upgrade, and believes Towngas Lifestyle can carve out new territory in the mainland market. Photo 4: Mr Frank Tang Kui, Founder, Chairman and CEO of FountainVest, hopes to leverage FountainVest’s networks, resources and teams to accelerate Towngas Lifestyle’s growth. Photo 5: Mr Yang Jun, Chief Operating Officer – Extended Business of Towngas and Executive Director & General Manager of Towngas Lifestyle, states that through the investment partners’ resources, Towngas Lifestyle’s business will transition from a traditional sales model to a user-centric service model, offering one-stop lifestyle solutions. Ms May Tam Assistant Corporate Affairs Manager Tel: 2963 3475 / 9192 0062 Email: tam.may@towngas.com Mr Julius Chow Senior Corporate Affairs Officer Tel: 2963 3471 / 6969 1360 Email: julius.chow@towngas.com Media Enquiries For media enquiries, please contact our Corporate Affairs Department. Corporate Affairs Department The Hong Kong and China Gas Company Limited 21/F, 363 Java Road North Point, Hong Kong WhatsApp: (852) 6702 6449 Email: cad@towngas.com
- July 30, 2025Business
Thailand’s First “Fossil Park” Launches at Hatch Dome, Asiatique The Riverfront Destination—A Sustainability-Led Experiences Featuring Real Dinosaur Fossils Created by AWC in partnership with MNRE,the experience starts on August 8 with free admission
Asset World Corporation (AWC), Thailand’s leading integrated lifestyle real estate group, together with the Department of Mineral Resources and the Department of National Parks, Wildlife and Plant Conservation under the Ministry of Natural Resources and Environment (MNRE), has signed a memorandum of academic cooperation to launch “Fossil Park”, a sustainability-led experience and an educational space dedicated to geology and paleontology, featuring authentic fossils discovered across Thailand. AWC led by Mrs. Wallapa Traisorat (5th left), Chief Executive Officer and President, Asset World Corporation, together with Ministry of Natural Resources and Environment through the Department of Mineral Resources led by Mr. Pichit Sombatmak (4th left), Director-General and Mr. Somsak Watthanaprida (7th left), Director of Fossil Protection Division, along with the Department of National Parks, Wildlife and Plant Conservation led by Mr. Attapol Charoenchansa (6th left), Director-General and Mr. Chalerm Poommai (far right) Director of the Wildlife Conservation Office, will soon unveil “Fossil Park”, a sustainability-led experience and an educational space dedicated to geology and paleontology, featuring authentic fossils discovered across Thailand. AWC in collaboration with the Department of Mineral Resources and the Department of National Parks, Wildlife and Plant Conservation, introduces “Fossil Park,” a new edutainment zone that raises awareness of sustainability through Thailand’s prehistoric fossil heritage, promoting accessibility to scientific knowledge and cultivating a conservation mindset among youth and the general public with free admission for all. Fostering pride among the public about Thailand’s geological heritage and biodiversity through the display of authentic fossils and a life-sized model of Phuwiangosaurus sirindhornae, while providing knowledge and passing on a special experience to travelers from around the world, to encounter over 14 species of dinosaurs and flying reptiles found only in Thailand, brought to life with engaging and easy-to-understand 3D technology for all ages. The “Fossil Park” is a key feature of the Hatch Dome, an edutainment hub dedicated to sustainability, following the immersive journey of Jurassic World: The Experience, it reflects AWC’s unwavering commitment to advancing education and promoting sustainable tourism in Thailand in alignment with its mission of “Building Better Future For All.” Located within the Hatch Dome at Asiatique The Riverfront Destination, Fossil Park showcases real fossil specimens alongside informative exhibits on geology, environmental conservation, and Thailand’s once-abundant forests and wildlife. As an extension following the immersive Jurassic World: The Experience, this initiative aims to inspire youth and families through engaging, hands-on learning that raises awareness around environmental preservation. The project promotes eco-tourism and highlights Thailand’s rich geological heritage, reflects AWC’s commitment to “Building Better Future For All” and supporting the country’s journey toward becoming a global leader in sustainable tourism. The Fossil Park will open to the public free admission starting August 8, alongside the global immersive Jurassic World: The Experience. Mr. Pichit Sombatmak, Director-General of the Department of Mineral Resources, Ministry of Natural Resources and Environment, stated, “This collaboration with AWC reflects our mission to promote paleontology and geology to the public in innovative ways. Through this project, visitors will learn about Thailand’s rich fossil heritage, including real dinosaur fossils, and gain insights into how the Earth has evolved. It will also connect to Thailand’s geological and fossil tourism sites in the northeast, reinforcing our national and regional significance.” Mr. Attapol Charoenchansa, Director-General of the Department of National Parks, Wildlife and Plant Conservation, Ministry of Natural Resources and Environment, said, “We are delighted to collaborate with AWC on the ‘Fossil Park’. This is an important step toward bringing conservation closer to the people, especially the younger generation. The experience showcases Thailand’s biodiversity and protected ecosystems, helping instill a deep appreciation for forest areas, wildlife, and natural resources in an accessible, imaginative format.” Mrs. Wallapa Traisorat, Chief Executive Officer and President of Asset World Corporation (AWC), said, “AWC is honored to collaborate with leaders of Thailand’s inspiring public organizations working in conservation like the Department of Mineral Resources and the Department of National Parks, Wildlife and Plant Conservation, under Ministry of Natural Resources and Environment, to create this immersive and meaningful experience. The ‘Fossil Park’ combines the wonder of science with the urgency of sustainability. We believe this unique attraction will spark curiosity, build environmental awareness, and nurture a new generation of eco-conscious global citizens. It is a proud reflection of AWC’s commitment to ‘Building Better Future For All’ and to strengthening Thailand as a global hub for sustainable tourism and learning.” The “Fossil Park” is an educational sustainability-led experience dedicated to paleontology, created to cultivate knowledge, understanding, and pride in Thailand’s geological resources and biodiversity. The space features both life-sized models and real fossil specimens discovered across the country, along with hands-on workshops for children to experience fossil excavation and learn what it’s like to be a young paleontologist. The exhibition also highlights the vital roles of the Department of Mineral Resources in the study and preservation of fossils, and the Department of National Parks, Wildlife and Plant Conservation in protecting Thailand’s natural ecosystems, flora, and wildlife—helping pass on essential knowledge to future generations. A major highlight of the park is a life-sized replica of Phuwiangosaurus sirindhornae, a gigantic herbivorous dinosaur discovered in Khon Kaen Province, measuring over 15 meters in length. The dinosaur was named in honor of Her Royal Highness Princess Maha Chakri Sirindhorn. Visitors will also find significant real fossils on display, such as Buddhabutrensis, an ancient fish species, among many other remarkable finds unearthed by paleontologists. Thailand is considered one of the most important dinosaur fossil sites in Southeast Asia due to its unique geological features, particularly in the northeastern region. Key excavation sites include Phu Wiang in Khon Kaen Province, Phu Kum Khao and Phu Noi in Kalasin Province, and Phu Faek in Maha Sarakham Province, earning the country the title “Land of Dinosaurs.” To date, fossils of at least 14 species of dinosaurs and prehistoric animals have been discovered in Thailand. These include Siamotyrannus isanensis, a formidable predator; Kinnareemimus khonkaennsis, a nimble, bipedal dinosaur inspired by the Thai myth of the Kinnaree; Isanosaurus attavipachi, the world’s oldest known sauropod; Siamraptor suwati, one of the most complete carnivorous dinosaurs ever found in Thailand; Minimocursor phunoiensis, one of the oldest known herbivorous dinosaurs in Southeast Asia, and Garudapterus buffetauti, Thailand’s first officially named pterosaur species, and a recent discovery of great scientific significance. Visitors can explore all 14 species through interactive 3D models, accessible via QR codes that link to simplified academic information—designed to engage youth, students, and the general public alike. The exhibition promotes paleontological education while instilling pride in Thailand’s natural heritage. The “Fossil Park” is part of the Hatch Dome, a striking dome-shaped structure within Asiatique The Riverfront Destination, continuing the journey from the world-class Jurassic World: The Experience. The Hatch Dome is Thailand’s first edutainment venue focused on sustainability, bringing together real fossil discoveries and immersive dinosaur-themed experiences to inspire awareness of conservation and climate change. Inside, visitors will find the official Jurassic World: The Experience Retail Store, “Better World, Better Future” —Asia’s largest Liminal 4D sustainability experience, “Fossil Park” showcasing Thailand’s geological legacy, “Snake Garden” exploring reptilian evolution from the dinosaur era to modern day, and “The Gallery Art of Giving, Giving Art Community Project Hatch Dome” —a social enterprise store featuring limited-edition dinosaur-themed community collections under the concept “From The Earth Before Time”. Items include keychains, tote bags, and dinosaur dolls made from traditional Thai “Pha Khao Ma” fabric, handcrafted by weaving groups from Ban Dong Noi and Dinothinsun Community in Kalasin Province. Proceeds from the shop will support local communities surrounding the Sirindhorn Museum network and Thailand’s dinosaur excavation sites. “Fossil Park” will officially open to the public with free admission starting August 8, 2025, alongside the immersive experience of Jurassic World: The Experience at Asiatique The Riverfront Destination.
- July 30, 2025Business
ikhlas.com unveils a bold new chapter in Muslim-friendly travel
Ikhlas Com Travel & Umrah Sdn Bhd (ikhlas.com) unveils a bold new chapter in how journeys are imagined and experienced. At an exclusive relaunch event curated exclusively for travel journalists, editors, content creators and storytellers, ikhlas.com Travel offers a first glimpse into its thoughtfully redesigned approach to travel — one that resonates deeply with the needs of modern Muslim travellers. Built on the values of affordability, inclusivity and comfort, ikhlas.com Travel offers curated travel packages, seamless booking mechanics and comprehensive Muslim-friendly itineraries that go beyond the typical tourist trail. From halal-certified and Muslim-friendly accommodations and local cuisines to prayer-friendly stops and culturally immersive experiences, the platform is poised to reshape how Muslims explore the world. Chief Executive Officer of ikhlas.com, Ikhlas Kamarudin said: “Travel today is about more than just destinations — it’s about how we connect, reflect and return as better Muslims. At ikhlas.com , our travel services offer unforgettable experiences with the best value for comfort, convenience and peace of mind as Muslims. “What makes us different is the depth of detail behind every journey. Each package is designed, personally experienced and refined by travel experts who have been to the destination multiple times. Our guides speak the local language, know where to go and include unique highlights — from viral cafés and thrift markets to curated halal cuisine and activities — often missing in typical itineraries.” Every group trip is intentionally small, designed for comfort and personalisation, with special care given to elderly travellers and families with young children. Prayer obligations are prioritised between activities with proper prayer facilities and all meals are either halal-certified, Muslim-friendly or vegetarian, verified in advance by the ikhlas.com Travel experts. Ikhlas adds: “Booking is entirely digital — no office visits required. Travellers can consult via chat or call, customise their itinerary, submit documents digitally and pay in flexible tranches via online transfer or using AirAsia Reward points. We are happy to announce that a new interactive “Travel Guide” feature will soon be launched within the ikhlas.com app, featuring local info, halal dining tips, weather updates, currency exchange rates and curated articles for each city.” Ahead of each departure, travellers receive a full digital pre-trip briefing including packing checklists, halal-friendly points of interest (POI), prayer guides, itinerary overviews and optional city navigation tips for free-and-easy days. In-depth blog content also offers destination highlights, halal cuisine reviews and price breakdowns for optional activities for travellers to explore the city on their own. “While we aim to serve the digital-savvy traveller, ikhlas.com Travel is always ready to serve those who prefer offline arrangements. Rest assured we will be with you every step of the way, from pre-departure (airport assistance, pre-checked in flights and hotels) to all your travel handling essentials.” To celebrate the relaunch of ikhlas.com Travel, ikhlas.com is lowering the prices of its super affordable packages with special promotions including the Buy 1, Free 1 for private trips within South East Asia or RM1,000 off for couple bookings to non-SEA destinations. Travellers can also enjoy a RM2,000 discount for 4 pax on any group packages including to Japan, South Korea and Kazakhstan! Launched at the height of the pandemic in October 2020, ikhlas.com is a Muslim-friendly lifestyle and travel platform designed to make it easier for Muslims to fulfill their religious obligations. In addition to ikhlas.com Umrah and Muslim-friendly Travel offerings in collaboration with subsidiary airline, AirAsia, ikhlas.com also makes it easier for Muslims to perform Zakat, Sadaqah, Aqiqah, Fidyah, Qurban and more. For more information, visit ikhlas.com or download the mobile app through the Apple App Store and Google Play Store .
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