PM Edition: Top 10 Business Articles on LiveNews.co.nz for April 1, 2026 – Full Text

Source: Media Outreach

SHENZHEN, CHINA – Media OutReach Newswire – 31 March 2026 – On March 31, 2026, Linklogis Inc. (09959.HK, “Linklogis”) released its 2025 annual results. During the year, the total revenue and income amounted to RMB983 million. Revenue and income in the second half of the year increased significantly by 62% compared with the first half of the year, reaching RMB608 million. In 2025, the total volume of supply chain assets processed by its technology solutions reached RMB508.1 billion, representing a 27% year-on-year increase, while the number of anchor enterprises served increased to 3,145. As of the end of 2025, Linklogis had cumulatively served more than 430,000 SMEs with efficient and convenient digital inclusive fintech services. The company maintained a solid financial position, with cash reserves reaching RMB4.9 billion, while liquidity remained ample.

In addition, Linklogis has always placed shareholder interests at the core of its corporate governance, rewarding investors’ trust through sustained and tangible actions. In August 2025, the Board approved a new share repurchase program of no less than US$80 million to be implemented over a one-year period. Under this repurchase program, the company has cumulatively repurchased shares totaling HK$365 million (approximately US$47 million), demonstrating its confidence in its long-term value through concrete actions.

Focusing on Core Business, Accelerating Business Structure Optimization

In 2025, Linklogis remained focused on its core business and accelerated the optimization of its business structure. The total volume of supply chain assets processed by its technology solutions reached RMB508.1 billion, up 27% year-on-year. With a market share of 22%, the company ranked first in the industry for the sixth consecutive year. The number of anchor enterprises served increased to 3,145, including 54 of China’s Top 100 enterprises and 151 of China’s Top 500 enterprises, while the number of financial institution partners reached 428, further improving the efficiency of industry-finance collaboration.

Linklogis’ supply chain finance technology solutions include Anchor Cloud, which consists of Multi-tier Transfer Cloud, AMS Cloud and Treasury Cloud, as well as FI Cloud, which consists of ABS Cloud and eChain Cloud. In 2025, the total volume of supply chain assets processed by Anchor Cloud reached RMB369.6 billion, representing a year-on-year increase of 31%. The total volume of supply chain assets processed by Multi-tier Transfer Cloud reached RMB304.2 billion, surging 47% year-on-year, with its contribution to the group’s total asset volume rising from 52% in 2024 to 60% in 2025. The total volume of supply chain assets processed by AMS Cloud, however, was RMB65.4 billion, down 13% year-on-year due to the continued decline in issuance volume in the supply chain asset securitization market.

The total volume of supply chain assets processed by FI Cloud reached RMB128.9 billion, up 20% year-on-year. Both ABS Cloud and eChain Cloud recorded solid double-digit growth in transaction volume, contributing to a 25% year-on-year increase in FI Cloud revenue. In the ABS Cloud segment, the total volume of supply chain assets processed reached RMB69.1 billion, rising 28% year-on-year. In the eChain Cloud segment, the total volume of supply chain assets processed reached RMB59.7 billion, increasing 13% year-on-year.

Linklogis focused on six key industries, including infrastructure and construction, new energy and advanced manufacturing, and worked with its subsidiary Bytter Technology to deepen targeted cross-selling, achieving breakthroughs in high-quality customer acquisition. Leveraging its one-stop comprehensive industrial-finance solutions and innovative scenario-based applications, Linklogis worked with a number of central and state-owned enterprises and leading private enterprises, including Shougang Group, China Coal Mine Construction Group Corporation and JA Solar Technology, to launch integrated industrial-finance platform projects. At the same time, it provided targeted support to 17 high-quality enterprises, including Shanghai Construction Group, Yunnan Construction and Investment Holding Group and Luzhou Laojiao, covering scenarios such as order financing, bill collateral, and supply chain bill transfer, supporting coordinated growth in both scale and value creation.

Building the “Second Growth Curve”, Unlocking Global Trade Finance Potential

2025 marked a pivotal year for Linklogis’ international business as the company embarked on a new chapter and accelerated the development of its “second growth curve.” During the year, Linklogis officially launched a comprehensive rebranding of its international business, introducing “Unloq” as its new identity for the global market, reflecting its vision of unlocking the potential and efficiency of global trade finance. Guided by a core strategy centered on cross-border trade corridors, scenario-based finance and technology-driven risk management, Unloq is committed to building a globally connected digital supply chain finance platform with strong local execution capabilities.

In line with its core strategy, the company has leveraged its cloud-native technology to launch the innovative “SC+ Platform”, designed to connect global real-world trade with digital finance. The “SC+” signifies its core function of connecting smart contracts with compliant digital payment instruments, forming a technology-enabled solution for global trade finance. The platform is dedicated to building the next-generation digital infrastructure for global trade finance and addressing systemic challenges in cross-border trade, including credit verification, fund turnover, and clearing and settlement efficiency. Through the platform, funders can utilize various compliant payment methods to purchase trade receivables.

To date, Unloq has completed the deployment of the core architecture of the SC+ Platform. Working with multiple commercial partners, Unloq has advanced the rollout of innovative applications leveraging compliant digital payment methods. In 2025, Linklogis successfully secured the bid for a Web3.0-based supply chain finance platform project for a leading central state-owned enterprise, marking a new milestone in its technological capabilities and industry recognition in the field of digital trade infrastructure.

In its international business, Unloq accelerated the expansion of cross-border trade services. In addition to traditional B2B goods trade, cross-border e-commerce and online travel agencies, it also expanded into cross-border logistics, bringing the total number of platform customers to 1,550, representing a net year-on-year increase of 451. With the deeper penetration of the SC+ Platform in cross-border trade finance, the continued expansion of its global localized service network, and the accelerated integration of solutions supporting Chinese enterprises’ overseas expansion, Linklogis’ cross-border and international business is expected to enter a phase of exponential growth in both asset volume and revenue in 2026, embarking on a new chapter of high-quality and sustainable development.

Advancing the “AI-powered Industrial Finance” Strategy: From Internal Empowerment to Industry Value Co-Creation

Linklogis remains committed to its “AI-powered Industrial Finance” strategy and continues to promote the deep integration of AI with supply chain finance across the entire value chain. Built on years of technological expertise and scenario-based refinement, its AI capabilities have evolved from internal productivity tools into a sophisticated intelligence engine that empowers the entire industrial ecosystem. By deeply integrating leading domestic large language models with its proprietary supply chain finance scenario knowledge graph and multimodal business elements, the company has systematically advanced the ongoing iteration and capability enhancement of its self-developed vertical model, LDP-GPT. Building on this foundation, Linklogis has developed the “BeeLink AI Agent” product matrix, covering more than ten core scenarios including intelligent trade document checking, intelligent PBOC registration, intelligent KYC, and intelligent risk management.

In 2025, BeeLink AI Agent continued to deliver breakthroughs in market penetration and commercialization. The number of customers served rose to 42, including domestic and overseas financial institutions and industry leaders such as Standard Chartered Bank, Bank of Hangzhou, and China Electrical Equipment Finance. Processing efficiency improved by 20 times, while accuracy in key processes reached 99%. As AI continues to evolve toward an agent-based paradigm, Linklogis will take “AI Agent+” as a strategic lever to comprehensively upgrade BeeLink AI Agent from functional tools to intelligent collaboration. It will prioritize breakthroughs in advanced capabilities such as cross-system task coordination, natural-language interactive decision-making, and adaptive workflow optimization, enabling customers to move from point intelligence to enterprise-wide intelligence, and from business insights to intelligent decision-making, thereby delivering end-to-end value across the entire value chain.

Linklogis actively responded to China’s “dual carbon” strategy and high-quality development agenda by embedding ESG principles into product innovation and the entire service lifecycle, leveraging technology to advance green finance, inclusive finance, and sustainable development. In 2025, the volume of sustainable supply chain assets served by the company exceeded RMB66.8 billion, representing a year-on-year increase of 80%, with its share of total serviced assets rising from 9% in 2024 to 13% in 2025. During the year, SMEs that obtained financing through Linklogis Supply Chain Multi-tier AR Transfer Platform benefited from an average financing cost of only 2.85%. The company continued to deepen its presence in four key sectors—renewable energy, rural revitalization, environmental protection, and public health—while further expanding into sustainable sectors such as the new energy vehicle supply chain, green buildings, and the circular economy. Through these initiatives, it directed financial resources more precisely to key segments that generate both green and low-carbon benefits and strong social impact, gradually building a broader and more influential sustainable development ecosystem that integrates industry and finance.

Expanding Full-scenario Deployment, Enhancing the Smart Industrial Finance Treasury Product Matrix

Through the acquisition of Bytter Technology, Linklogis made a strategic entry into the corporate treasury management sector. By synergizing management teams and business operations, the company successfully established the Treasury Cloud product line, providing diverse customers with end-to-end treasury management services covering settlement operations, cash planning, financing management, risk monitoring, and intelligent decision-making. As a key component of Linklogis’ “Smart Industrial Finance Treasury” strategy, Treasury Cloud is anchored by a dual-engine approach powered by AI and data, and has established a comprehensive product matrix, including the F1 treasury management system and T6 cash management system for anchor enterprises, the bank treasury system for financial institutions, and the Yingzilian SaaS platform for SMEs.

Since September 11, 2025, Bytter Technology has been consolidated into the group’s financial statements. The integration of the Treasury Cloud business has been fully completed. Linklogis will continue to deepen resources integration and business collaboration between Treasury Cloud and the group’s other supply chain finance technology businesses in areas such as product R&D, channel expansion and customer service. The company will accelerate the development of an integrated, intelligent and scalable Smart Industrial Finance Treasury platform, providing customers with one-stop digital solutions covering treasury management and industrial-finance collaboration.

Charles Song, founder, Chairman and CEO of Linklogis, said: “The year 2026 marks the tenth anniversary of Linklogis. As we stand at the threshold of a new decade, we will remain firmly committed to a core strategy of being technology-driven and globally connected, while steadfastly advancing our dual-engine approach of deepening domestic industrial finance and expanding global digital trade. We will seize opportunities amid transformation and strengthen our competitive advantages through innovation. In the domestic market, we will continue to advance the “AI-powered Industrial Finance” strategy. Anchored by the comprehensive upgrade of BeeLink AI Agent, we will accelerate AI’s evolution from scenario-based enablement to ecosystem-level collaboration. At the same time, leveraging our full-stack capabilities in Smart Industrial Finance Treasury solutions, we will continue to refine our integrated one-stop solutions, consolidate our market leadership, and ensure the steady growth of our core business. In international markets, we will accelerate the expansion of global cross-border digital trade networks through Unloq and roll out the SC+ Platform along key global trade corridors. We aim to become a key builder and connector in the ongoing digital and intelligent transformation of global trade finance. The future is already unfolding. Only the adaptable can prevail, and only the persistent can go the distance. With technology as our oar and industry as our vessel, Linklogis will continue to join forces with our partners, embarking together on the magnificent journey toward a digital and intelligent future for global industrial finance.”

Hashtag: #Linklogis

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

– Published and distributed with permission of Media-Outreach.com.

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 31 March 2026 – Phancy Group Co., Ltd. (“Phancy” or the “Company”, Stock Code: 6682.HK), a leading Artificial General Intelligence (AGI) company, today announced its annual results for the year ended December 31, 2025 (the “Reporting Period”).

In 2025, Phancy reported total revenue of RMB7.135 billion, representing a strong year-on-year increase of 35.6%. Adjusted net profit attributable to the parent company reached RMB17.84 million, a milestone reflecting significant advance in operational efficiency, business model strength, and resilience. During the reporting period, the three core business segments — AI Platform, API, and Agentic AI — delivered synergistic growth, with revenues of RMB6.552 billion, RMB79.9 million, and RMB503 million respectively, representing year-on-year increases of 32.0%, 129.2%, and 93.2%. The company has a total of over 1,000 contracted clients with deep penetration across more than 20 high-value industries, including energy, manufacturing, finance, retail, and telecommunications. Order on hand amounted to over RMB8.9 billion, surpassing the Company’s total revenue in 2025.

Dr. Dai Wenyuan, Founder, Chairman of the Board, and Chief Executive Officer of Phancy Group Co., Ltd. said, “2025 was a landmark year for Phancy. We completed a comprehensive strategic upgrade from ‘Fourth Paradigm’ to ‘Phancy Group’, signifying our transformation from an enterprise AI platform to a full-stack AI ecosystem and officially entering the AI 2.0 era. This performance breakthrough validates the development philosophy and strategic vision we have long pursued, demonstrating our forward-looking industry insight and long-term value creation capabilities. As we embrace the next wave of AI, we will continue to focus on ‘AI Agent + World Model’ as our core technology path, strengthen computing power and foundational capabilities, drive deeper value realization of AI, and work with ecosystem partners to build a sustainable intelligent future.”

Performance Highlights:

• Total revenue reached RMB7.135 billion, up 35.6% year-on-year; adjusted net profit amounted to RMB17.84 million, marking the first full-year profitability.
• According to IDC, Phancy ranked first in China’s machine learning platform market for seven consecutive years, with a 34% market share.[i]
• Orders on hand amounted to over RMB8.9 billion, surpassing the Company’s total revenue in 2025.
• AI Platform contributed RMB6.552 billion in revenue, up 32.0% year-on-year, accounting for 91.8% of total revenue and serving as the core growth pillar.
• API business, driven by a token-based model, became the fastest-growing segment with revenue of RMB79.9 million, representing explosive year-on-year growth of 129.2%.
• Agentic AI business, centered on a “Result-as-a-Service” model, achieved revenue of RMB503 million, up 93.2% year-on-year, demonstrating strong momentum and sustainable scalability.

Business Highlights:

In 2025, Phancy’s three core business segments — AI Platform, API, and Agentic AI — established a multi-engine growth model, creating a cycle of synergy and mutual reinforcement.

AI Platform: Sustained Growth Driver

Driven by strong domestic demand for localization and the national “AI+” initiative, the AI Platform remained the Company’s core growth engine. With its full-stack product portfolio and leading market position, the segment delivered deep integration between computing power and platform services, lowering barriers to AI adoption. Supported by a comprehensive technology framework and a strong customer base, the AI Platform effectively boosted performance and contributed to the Company’s profitability breakthrough.

The Company continued to drive technological iteration, with a strategic focus on three core offerings: PhanthyCloud, HAMi vGPU, and ModelHub XC.

1. PhanthyCloud – the backbone of the full-stack AI PaaS cloud service, integrating diverse AI capabilities to provide efficient, cloud-based services. Seamlessly connected to ModelHub XC and HAMi vGPU, PhanthyCloud delivers model adaptation and computing power scheduling, while maintaining broad compatibility with mainstream domestic chips to support digital transformation.
2. HAMi vGPU – a core GPU resource management product that allows GPUs to be flexibly shared and scheduled. Customers can tailor GPU configurations to their business needs, significantly improving utilization rates.
3. ModelHub XC – China’s largest ITAI (information technology application innovation) model community, designed to promote deep adaptation between domestic chips and AI models. The number of adapted and certified models has now surpassed 30,000. The Company had initially planned to scale the number of adapted models to the hundred-thousand level within a year, a milestone it has already achieved ahead of schedule.

API Business: Fastest Growth Engine

With the rapid adoption of AI Agents, token consumption has grown exponentially. Phancy’s API business, built on a flexible pay-as-you-go model and a comprehensive ecosystem, achieved leapfrog growth, and became the Company’s fastest growing segment. Token revenue for the first quarter of 2026 alone has already surpassed the full-year total for 2025.

The API business is anchored by the Phanthy platform, complemented by PhanRouter and PhanClaw, creating a comprehensive token ecosystem in synergy with the Sage Platform:

1. Phanthy – the core platform of the token-based ecosystem. It integrates cloud services with more than 30,000 adapted models and industry-specific vertical models, delivering accessible API capabilities that reach over 100 million of terminal products and support the large-scale deployment of AI capabilities.
2. PhanRouter – a unified API gateway for large models. It enables developers and enterprises to seamlessly connect with dozens of mainstream model providers, it is compatible with the OpenAI standard and major domestic chips, and supports both private deployment and token-based payment, reducing customer costs and easing operational complexity.
3. PhanClaw – an agent platform deeply integrated within PhanthyCloud and serves as an extension of the OpenClaw ecosystem. It is designed to provide users with secure, controllable, and cost-efficient digital assistant services. Working in synergy with Phanthy and PhanRouter, PhanClaw manages the token lifecycle, including risk control, permission management, and log auditing, meeting the stringent security and compliance requirements of industries, such as finance and government affairs.

Agentic AI: Long-Term Sustainable Growth

Agentic AI serves as the Company’s revenue cornerstone and a “value multiplier” for empowering a wide range of industries. Operating under a Result-as-a-service model and aligned with national “AI+” energy development policies, this segment expanded rapidly across high-value industries, achieving economies of scale and strong growth momentum. Working in synergy with the AI Platform and API businesses, Agentic AI provides long-term support for revenue and contributes to the high-quality development of the Company’s operations.

In terms of business expansion, the Company is focusing on core scenarios in spot electricity trading and medium- to long-term electricity trading. It has developed a full-chain AI solution encompassing forecasting, decision-making, risk control, and post-trading review. This solution has already been deployed in multiple pilot provinces and recognized by key customers, effectively improving efficiency and profitability in wind power, photovoltaics, and energy storage. This model is now being rapidly extended to other industries, including manufacturing and finance.

Future Outlook:

Looking ahead to 2026, Phancy will continue to advance its four strategic priorities: deepening its AI 2.0 roadmap, accelerating the deployment of industrial-grade AI Agents, driving international expansion, and further extending into the consumer market.

In terms of the AI 2.0 roadmap, the Company will continue to pursue its core philosophy of “AI for Everyone”, focusing on foundational technology R&D and real-world deployment. By refining its end-to-end technology system, Phancy aims to lower barriers to AI adoption and enable more enterprises and users to benefit from AI. For industrial-grade AI Agents, the Company will accelerate deployment under a Result-as-a-service model, deepening its presence in key sectors such as energy and finance, and developing replicable, scalable industry solutions, to expand business scale and profitability. On international expansion, Phancy will strengthen partnerships with overseas brands and channels, building a robust global operations framework to support worldwide growth. In the consumer market, the Company will focus on core consumer needs by launching high-experience smart terminal products, further expanding its customer base and establishing a dual-driven growth model powered by both technology and market reach.

Hashtag: #PHANCY

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

– Published and distributed with permission of Media-Outreach.com.

Source: Media Outreach

SINGAPORE – Media OutReach Newswire – 31 March 2026 – The Institute of Singapore Chartered Accountants (ISCA) held its first Annual Ceremony in Shanghai on 29 March, bringing together over 150 members and partners from China and Singapore.

The ceremony marked a significant milestone in ISCA’s internationalisation efforts, recognising long-serving members, honouring accredited institutions and partners, and unveiling a new partnership with the Singapore Chinese Chamber of Commerce & Industry (SCCCI) to enhance business and professional linkages between China and Singapore.

ISCA has continued to expand its presence on the global stage, as it has a steadily growing international community of members, students and partners worldwide, with 12 overseas chapters in nine countries and six overseas offices across four countries.

Within China, ISCA has established its China offices in Shanghai and Nanjing. A partnership with the Nanjing University of Finance and Economics has also been developed, embedding the Singapore Charted Accountant Qualification (SCAQ) into its curriculum to allow Chinese students to graduate with a degree in accounting, while also providing them a fast track to the Chartered Accountant (Singapore) designation. This marks ISCA’s first embedded degree since the SCAQ programme was launched in 2014.

Ms Claire Qian, ISCA Shanghai Chapter Chairperson said: “ISCA’s growing presence in China reflects strong demand for deeper professional and business linkages between China and Singapore. This ceremony highlights our commitment to supporting members in China while strengthening cross-border collaboration and opportunities.”

The ceremony also heralded the announcement of a new collaboration by ISCA and SCCCI in developing a practical executive programme that addresses the challenges that Chinese companies face in expanding into Southeast Asia.

ISCA President Mr Teo Ser Luck shared: “China is a key market in ISCA’s internationalisation strategy, given the size of its enterprises and the growing interest in Southeast Asia as a growth market. Through our Professional Services Centres, we provide businesses with the capabilities, insights and networks they need to expand and invest in China and Southeast Asia. As we marked ISCA’s first anniversary in China, we stay committed to build strong foundations for cooperation and investment between Singapore and Chinese enterprises, supported by trusted professional services partners.”

Mr Huang Fei, Centre Director, Singapore Enterprise Centre (SCCCI Shanghai Representative Office) said: “We are pleased to announce this collaboration with ISCA, and are eager to impart our combined insights into the world of business development within Chinese enterprises. Participants can look forward to resources aimed at providing members with practical and insightful support in approaching regional development opportunities, with additional information to be shared as we navigate new possibilities.”

The ceremony also celebrated over 30 member achievements, recognising various members ranging from new Chartered Accountants, Experienced Professionals, members milestones spanning 10 to 30 years and Fellow Chartered Accountants.

Mr Kelvin Lam, CFO of NTT Data (China), a Chartered Accountant, said: “As an overseas ISCA member, this event has been deeply fulfilling. As it brings together ISCA members within China and Singapore, it has allowed us to share valuable insights with each other, and to develop strong bonds that will only continue to grow. As a Chartered Accountant, I would also like to commend ISCA for their dedication and support for overseas members, as they have provided countless resources and opportunities for us to seize and grow as accountants.”

Hashtag: #ISCA #DifferenceMakers #Accounting #Accountancy #CharteredAccountants #ChooseAccountancy #Shanghai

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

– Published and distributed with permission of Media-Outreach.com.

Source: New Zealand Government

How can lessons from the COVID Response help navigate fuel shortages?

Thank you, Matthew, and thank you all for being here this morning. 

I’d like to speak plainly to you about the event affecting every part of business right now. I’d like to cast it through another lens we try not to think about, let alone see the world through.

Current situation

There is no point pretending this conflict in Iran is abstract or somebody else’s problem. As soon as the waterway that carries around one-fifth of global petroleum liquids consumption is thrown into uncertainty it becomes real for an isolated island nation like ours. Insurance costs, supply chains, energy markets, all the bills businesses pay, and the prices families see at the pump are all affected. 

Right now we have sufficient fuel stocks in New Zealand and we are working hard across diplomatic, commercial, and industry channels to ensure that remains the case. 

Here are the facts:

Our national fuel stocks continue to be robust across petrol, diesel, and jet fuel.

Latest projections show that New Zealand has 59.3 days of petrol supply, 54.5 days of diesel supply, and 50.4 days of jet fuel supply available nationally. We have five ships expected to arrive in coming days and another ten ships a few weeks away. 

Last week we announced a fuel plan detailing the planning in place for if this situation worsens. Introducing restrictions on fuel use is NOT the plan, but it is better to have a plan you don’t use than get caught with no plan at all.

Plan A is to keep working with energy companies and foreign governments to ensure supply keeps up. The supply-side comes first. So far, the available days of supply has bounced around, and people have argued over which ships to count, but supply has stayed over six weeks’ worth for the last three weeks. Our first goal is to keep it that way.

If, and only if, there is a risk of running out, would we go to demand-side restrictions. 

Finer details of the plan are still being worked on. Government departments are talking to people in different industries every day to work out how the plan could work if it came to that. 

There are still details to come, we are continuing to work on it and will give updates as soon as possible.

However, for now, we have enough supply, and our aim is to use the supply side to keep it that way.

Five lessons from the COVID response

Nobody wants to relive COVID, but that period had many lessons if we want to learn them. We’d be mad to ignore a live experiment in politics and policy during a scary global situation.

I spent those years in opposition, but I half joked that I wanted to be the ‘leader of the proposition.’ During that time we didn’t just criticise the Government, as was our party’s constitutional role, we also put up a series of papers about how we’d do it better.

Today we face another event that is global, could be scary, and has already invoked a response from Government. What a time to dust off some of those reflections from that time.

Avoid the time trap

The first and most important lesson was not to let the situation warp time. During COVID the Government slowed down time. The daily press conferences made 24 hours seem like a year, and the first 24 minutes we spent waiting to hear the day’s figures felt like a month.

We forgot that New Zealand would outlive the pandemic, and our country would have a big future, but decisions made then would cast a long shadow on that future.

The fiscal situation was the most obvious time warp victim. The figures were eye watering. The Government borrowed a net $100 billion in the four years from June 2019 to June 2023.

That’s why the financial support announced to date is:

Targeted, at low-income working households with children
Timely, it can be done with existing tax credits rather than creating a new mechanism
Temporary, it will end in either a year or when regular petrol falls below $3, linking it to the problem
Funded, it comes from within the allowance announced in the December Budget Policy Statement, so it will require savings elsewhere instead of new spending

The time trap lesson also puts a stark lens on some of the other proposals being put about. We’re told we should cancel excise taxes or road user charges, cancel road projects, or enable online learning. 

These ideas would all have long tails of effects that we cannot ignore.

Balancing human needs
Do it with, not to the people
Remember we’re all human, all New Zealanders
Learn from the world, and don’t reinvent the wheel

Education points to the second COVID lesson. We need to keep all of New Zealanders’ goals in perspective. I am still astonished at how quickly education was glossed over.

In many ways, education is the only investment that matters. Thoughtful people can solve lots of problems. Unthinking people can cause lots of problems. How educated the population is will trump any other variable across a generation. But, in the COVID time trap we abandoned it.

Last week I was asked countless times whether I thought students should be learning from home because of the fuel crisis. I said of course not, because we cannot afford to put education back at the bottom of the totem pole after working so hard to get students back at school. And I wondered, as I was being asked that question, whether attendance had actually fallen significantly. It hadn’t. We know that because we’ve made daily attendance data available online.

In response to a crisis, you have to think about all human priorities and you have to follow the facts. That’s why education, for one thing, is not going to be sacrificed in the event this Government needs to move to demand-side rationing.

The third lesson was to work with, rather than against people.  The COVID response took on its own momentum. By the end of 2021, we’d been in a state of crisis management for 18 months. The then Prime Minister’s nearly belligerent refrain ‘if you want to do x, y, or z, get vaccinated,’ confirmed she had gone too far.

But vaccination was only the most infamous flashpoint. Many others felt the response was being done to rather than with them.

There was the school that had its Australian approved RAT tests confiscated, how dare they, take initiative?! 

There were the Auckland restaurants who were told one morning they could open for the America’s Cup that day. They had to explain that they were very grateful but to serve lunch they needed to roster staff and order food the night before, at least.

There were the hairdressers and event promoters who showed they could operate as safely as very similar industries, but found deaf ears and frustration.

That’s why the Government has been working double time behind the scenes to do two things: Keep fuel supply up and be ready to manage demand as a last resort.

There are extensive discussions with businesses of every sector about how those steps are or would be taken. Rather than jumping to the podium, we are quietly making plans we hope to never use.

The Red Tape Tipline

We’re not only working with business and community to help solve problems we know about, we’re open to hearing new solutions altogether.

For all the briefings we get from officials – in fact I’d be at one right now if I wasn’t here – there will also be businesses on the frontline who are experiencing the strain firsthand and experiencing what is going on before a government department has figured it out.

If we’re learning lessons from our COVID approach, we might as well do the same from other countries. Taiwan implemented an approach during the COVID outbreak where they went ‘this is a tough time for everyone, since you’re the ones dealing with it every day, what do you need us to do to help?’. Through public feedback they were able to develop tools that improved their response, with apps that helped with contact tracing and collated data.

That’s why I’m also encouraging businesses to come directly to the Ministry for Regulation with areas we can relax regulations and support the response. 

In a disruption, every unnecessary delay matters. If there are rules, forms, approvals, or compliance requirements that make it harder to import, store, distribute, or use fuel efficiently, those issues should be identified now, not when the pressure is at its peak.

People can submit examples of regulations that could be reviewed, suspended, simplified, or better coordinated to support New Zealand’s fuel resilience via the red tape tipline.

This could include barriers affecting fuel transport, storage, distribution, local delivery, freight movements, business operations, or the ability of firms to adapt quickly to changing supply conditions.

The tipline has already fixed many things that matter to Kiwis, whether it’s allowing them to build sheds on their property, fixing scaffolding regulations and ending prohibition on medical conferences taking place.

Already there’s been more than 75 submissions, with some very interesting ideas. These are currently being analysed to see which amount to the most common-sense changes and will be able to have the most tangible impact on our response. I’ll have more to say on that soon. 

We are lucky to have democracy and due process. They give each person the dignity of being seen and heard. The COVID response was a lesson in what not to do. 

The closure of Parliament can be debated. Other countries closed more, our still functioned online at times, but there was something else I think we should worry about. 

People accepted the suspension of democracy and the rule of law so easily. When the Police Commissioner said the police would follow people around and perhaps ‘take them to our place’ without any actual law to enforce, people shrugged. When the Leader of the Opposition couldn’t get to Parliament, too many people including the media shrugged again. 

It’s essential that any possible restrictions on normal life are done clearly and transparently, with no short cuts on democracy or due process. That matters in a fuel crisis just as much as it did in COVID, because any move to ration demand or limit normal activity will touch millions of ordinary New Zealanders. If people are being asked to change how they live, they are entitled to know the rules, the reasons, and the legal basis for them.

Otherwise, you risk ignoring the fourth lesson, and people feel they haven’t been listened to. That’s when you get riots on the lawns of Parliament.  

New Zealanders during COVID could be forgiven for thinking we were the only country on earth. Everything had to be done our way, as if it was being done for the first time.

Those Aussie-approved thermometers being confiscated was a good example. Today we’ve already harmonised fuel standards with Australia, in stark contrast to that approach.

Like COVID, our isolation is a big factor in the current fuel situation. Then, we had several weeks’ notice as each variant crawled across the globe. Today, we’re tracing back ships coming to Marsden Point from Korean and Singaporean refineries, and then the ships going to those refineries. 

If we can see what’s coming, we can take time to prepare, and we can watch what others are doing to plan our own response. We should never be too proud to learn from another country. We’re pretty good, but we don’t have a monopoly on wisdom.

Why the response matters

We can’t let today’s crisis erode our country’s future. 

The latest Treasury figures put net core Crown debt at $191.4 billion. That alone is a reason to treat every new commitment seriously, because every dollar we borrow today is a dollar we lose the freedom to use tomorrow. 

Fiscal discipline is what stops the first shock being followed by a second one. It is what helps contain inflation pressure. It is what protects interest rates from staying higher for longer. And it is what means that if genuine hardship support becomes necessary, government can provide it without making everything else worse.

So, when we say do not take your eye off the fiscals, we are not changing the subject.

You can already hear the other instinct from the opposition. More spending. More intervention. More borrowed relief. More politics built around the appearance of action. That’s what would be happening if the other lot were in charge for this. 

With cool heads, we can respond to fuel shortages from the Iran war without committing the knee-jerk mistakes made during COVID.

It means understanding that our long-term future must not be eroded by short-term political theatrics. That is the approach we have to bring to this response.

We cannot prevent every external shock. But we can make sure New Zealand responds with fiscal discipline and common sense. That will be the evidence that we’ve learnt our lessons. 

Thank you.

MIL OSI

Source: Media Outreach

PERSOL Outsourcing will deliver tailored end-to-end solutions for today’s evolving business landscape

– Published and distributed with permission of Media-Outreach.com.

Source: NZ Ministry for Primary Industries

MIL OSI

Source: Media Outreach

PERSOL Outsourcing will deliver tailored end-to-end solutions for today’s evolving business landscape

– Published and distributed with permission of Media-Outreach.com.

Source: Radio New Zealand

The Energy Minister is expressing confidence in the government’s plans to build a liquefied natural gas (LNG) terminal, even as the Prime Minister says it will not go ahead if the business case does not stack up.

Two of the country’s gentailers have expressed their own doubts on the future of the terminal, while Labour has asked the auditor-general to look at the decision-making process.

The government intends to build a billion-dollar LNG import facility in Taranaki as a back-up to address dry-year risk.

Confirmation the government would proceed with the terminal was announced in February, shortly before the United States and Israel attacked Iran.

The ensuing energy crisis has led to LNG prices rises of 143 percent in Asia since 28 February, leading to criticism from Labour the government was signing New Zealand up to more volatile price spikes in the future.

A decision on procurement is due to be made by the middle of the year, with the aim of having the facility operational and receiving gas in 2028.

The prime minister indicated its future would rely on the business case.

“If it doesn’t stack up, we won’t be doing it. Until we see the commercials on it, we’ll make the decision then,” Christopher Luxon said on Tuesday.

Energy bosses express mixed views

Appearing at the energy sector conference Downstream in Wellington on Tuesday morning, gentailer chief executives were asked what the crisis meant for the LNG terminal.

“It depends which day you read the news, doesn’t it? I think LNG stands for ‘likely no gas’ to be honest,” Genesis chief executive Malcolm Johns said.

“The reality is that only 30 percent of New Zealand’s energy comes from electricity, 70 percent comes from other forms. Fifty percent of our overall footprint is imported, so we have a highly exposed energy system to the rest of the world. Whether you add LNG to that or not is not going to make one iota of difference to New Zealand’s exposure to the imported fuel regime to the world.”

Meridian chief executive Mike Roan agreed.

“It feels like the Americans might have put a bazooka, literally, through that proposal,” he said.

“I think it’s the challenge that we have as an industry, which is, how do we take charge of the resources that are at our fingertips and actually build out a resilient, secure, and affordable electricity system for not only today, but for the generations that follow? Because that’s what people were able to do before us.”

Others on the panel were more optimistic.

David Prentice, chief executive of the Gas Industry Company, said “first and foremost” the LNG terminal was about providing insurance for a dry year.

“We all have insurance in our homes and our cars, and we grumble and moan about it, but at the end of the day, I would bet that most people would still have insurance.”

Transpower executive general manager of operations Chantelle Bramley said LNG would bring new energy into a constrained system, and would buy New Zealand time to “build out” renewables.

“It gives us optionality. And in times of uncertainty, creating more options is actually a really good thing.

“We’re a tiny country at the bottom of the South Pacific. We are not an interconnected power system. There are things that will happen in our domestic market that at some point we’ll also want to be looking at that international fuel mix. The war in Iran won’t be going on forever, so I think that that optionality is also really important.”

Energy minister wants ‘a good deal’

Energy Minister Simon Watts said there were “two conversations” at play, involving the procurement of the import terminal and then the procurement of the LNG itself.

Watts said the government was proceeding with the procurement process “as planned”, but like any procurement process the government wanted to get “a good deal”.

Officials had advised him the procurement process was on track.

“First and foremost, we’re doing a procurement process to build a strategic LNG importation terminal. The second conversation is around procurement of that gas.

“Obviously, the procurement of the gas will be for winter ’28, which is obviously not on Tuesday, and that long-term contracting process will follow once the terminal is built. So we’ve got to separate out. There’s two conversations here. We’re talking about the procurement to build the ability to import.”

Watts said the underlying problem of a lack of gas to make electricity in a dry year remained, and a PwC report two weeks ago had outlined that not having gas in the economy would be “catastrophic” for regional jobs and GDP growth.

The PwC report said introducing LNG would help “stabilise total gas supply and prices,” as well as reduce structural scarcity pressures and restore confidence in the market to support an “orderly” gas transition.

“We need the capability to import, and then we need to do long-term contracting to get that gas when we need it, acknowledging we don’t know exactly when we are going to have a dry year, but having that insurance policy gives us more options,” Watts said.

‘A dangerous idea’ – Labour

Cabinet has delegated the authority for the contract to be signed off by the ministers of finance, energy and infrastructure.

Labour energy spokesperson Megan Woods said she was concerned it was not the “usual” way for a billion-dollar project to be decided on.

“There’s power to ministers to decide, rather than the usual kind of officials process that you’d have in a case like this,” Woods said.

“I’ve actually written to the auditor-general, and I’ve asked the auditor-general to look at that, because I think it is highly atypical that you’d be having political decisions around a billion-dollar project, when the government’s already shown that it doesn’t have the ability to think things through.”

Woods’ letter questioned whether the decision-making criteria at each stage was sufficiently clear, documented, and robust.

It asked the auditor-general to consider whether it was consistent with the Government Procurement Rules, as well as the Cabinet Manual and the auditor-general’s own guidance on procurement.

Of particular concern for Woods was whether the level of ministerial involvement in shortlisting and choosing suppliers was “appropriate for a procurement of this size and risk”, and whether that created a real or perceived risk to the independence and integrity of the process.

“The Cabinet material describes a process where the minister for energy approves the shortlist and a small group of ministers selects the preferred supplier. That appears to be a high degree of direct ministerial involvement in what is, at heart, a commercial evaluation and selection exercise for a very large contract,” her letter said.

Woods said LNG was “always” going to be a more volatile and insecure way for New Zealand to secure its energy system, and accused the government of brushing aside other ways in which it could be done.

“It was a dangerous idea when the government announced it. I think the last three or four weeks have just shown how precarious it is. New Zealand should not be banking its energy security on a volatile fuel like LNG.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Auditors have issued business failure warnings for 15 percent of New Zealand’s listed companies, a new report says.

Chartered Accountants Australia New Zealand (CA ANZ) released data that shows an increase in the number of companies where auditors have highlighted a material uncertainty related to a going concern.

It was up from 13 percent in 2021, and well up from about 8 percent in 2023.

The report examined auditor reports of NZX-listed companies that issued financial statement in 2025.

In Australia, 30 percent had a going concern warning.

CA ANZ reporting and assurance leader Amir Ghandar said it showed how difficult operating conditions had become, particularly for companies reliant on ongoing access to capital.

“Auditors are now flagging greater uncertainty than during the pandemic itself, which shows how sustained economic pressures around liquidity, refinancing and future profitability can be just as challenging for businesses as an acute shock.”

Ghandar said New Zealand was in a comparatively stronger position than Australia, but was not immune.

“Certain sectors are under sustained pressure. Going concern flags are most frequent in consumer staples, health care and information technology, sectors where business models are often capital intensive, dependent on future growth, or exposed to volatile input costs.

“In these sectors, access to funding, confidence in future earnings and the ability to absorb cost shocks really matter.”

Neil Paviour-Smith, managing director at Forsyth Barr, said an increase compared to 2021 was not surprising because it had been a relatively strong time for the economy.

“While the world was still grappling with the effects of Covid, in the aftermath, in a business sense, you had governments providing subsidies, you had zero interest rates, you had governments or reserve banks printing money.

“It was a pretty strong economic recovery… since then things have tailed off, we’ve had inflation, cost pressures and other factors… it’s a much more difficult environment now relative to 2021.”

He said auditors were pointing out the pressure was on, that there were challenges to the businesses’ ability to remain a going concern.

“It’s sort of accounting language for continuing to be viable as a business and meeting its obligations.”

He said businesses could still turn around.

“It can be hard slog to get there. In some instances it means deep restructuring, cost cutting, asset sales, changes in the way in which business is performing in order to salvage the business.

“That’s where boards and management are looking very hard at – do we have a viable business? Or it may well be that the market has so fundamentally change that you’re hanging on to the past rather than looking ahead.”

For some the environment might have changed too much to continue, he said.

“If you look at retail for example, there are certain brands, whether it’s fashion or whether it’s hospitality where certain bars and restaurants just aren’t supported by customers, they like going to other places… same with retail. If you’re in a sector that’s struggling, the strongest will prevail.”

He said the fuel price pressure would flow through to inflation and higher wage demands from staff.

“At a time when households and businesses are probably going to act somewhat cautiously in terms of their own spending, which will have a revenue consequence.

“I imagine it wouldn’t be surprising if you saw the number of companies with material uncertainties increasing again because of the environment we’re in.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Business confidence has dived as firms continue to digest the implications of the war in Iran, mirroring last week’s consumer confidence survey.

The ANZ Bank’s monthly business survey shows confidence fell 26-points in March to a net 33 percent from 59 percent in February, while other indicators also plummeted.

Inflation indicators also rose, with a net 60 percent of firms expecting to raise prices in the next three months – an increase of 7 points.

ANZ said survey results gathered during the past week were weaker still, which did not bode well for April’s reading.

The net percent of firms expecting cost increases rose to a net 85 percent from 79 percent, which was the highest rate in about three years.

“It’s unsettling times for businesses,” ANZ chief economist Sharon Zollner said.

“Just as the economic recovery was starting to feel real, dark clouds have gathered. It’s not just anxiety about the future.

“Many firms are already reporting that their activity has taken a hit as people defer their decision-making in the face of uncertainty.”

In terms of impacts already being experienced, overall activity fell to net 18 percent from 23 percent of firms reporting stronger activity than a year ago.

The retail sector was down 20 points to 5 percent, with construction down 16 points to a negative 13 percent.

She said past activity, which was the best indicator of GDP, took a hit, particularly in the late-month data.

“The fall in the activity indicators as the month went on is understandable, as it has become increasingly clear that this is not a short-lived shock, but something more persistent.

“Firms are understandably in a mood to reduce their risk-taking, but the unfortunate truth is that one firm’s risk (a purchase, an investment, a hire) is someone else’s opportunity.”

She said the weakness was broad-based.

Biggest problems

Zollner said competition was still the number one problem facing businesses, while non-wage costs were also starting to grow, along with concerns about the Middle East and government policy.

“By sector, retail is more concerned about the exchange rate than other sectors,” she said.

“Construction is particularly concerned about competition, and turnover remains a significant worry for retail, construction and manufacturing.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand