PM Edition: Top 10 Business Articles on LiveNews.co.nz for June 19, 2026 – Full Text

Source: Impact PR

A New Zealand-based offshore trust firm managing more than $6.8 billion in assets is set to launch a North American export expansion programme as litigation risks drive US doctors to move wealth into Cook Islands and Nevis protection structures.

New US research shows almost 60 per cent of obstetricians and gynaecologists report being sued at least once during their careers. More than half of general surgeons had also faced a malpractice claim, highlighting the long-term litigation risks facing many American medical professionals. The study also found doctors’ risk of facing a malpractice claim increases over the course of their careers and varies significantly by specialty.

Matthew Smith, a lawyer and director of business development at Southpac Group, says many US professionals, business owners and specialists are seeking asset protection before any dispute arises, because malpractice claims, insurance limits, and an aggressive litigation culture can expose personal wealth built up over decades.

“Most clients are professionals or company owners looking to protect assets they have spent decades building,” Smith says.

“The US legal environment is far more aggressive than what we see in New Zealand.”

Smith says asset protection structures used by some doctors are typically part of a broader risk management and wealth preservation strategy, particularly where malpractice insurance policies contain payout caps that may not fully protect them if a claim escalates.

He says this makes offshore asset protection structures far more common in the US than in New Zealand.

Southpac’s new client numbers rose over 290 per cent between 2022 and 2025 as wealthy Americans became increasingly focused on legal risk, asset protection and geopolitical uncertainty following the pandemic.

Smith says their firm currently administers trusts established by clients from 51 countries, with the United States accounting for about 85 per cent of its client base. The UAE, Canada, Australia, New Zealand and the UK are also among its largest markets.

Mike Arand, Southpac CEO, says the firm was the first trustee company licensed in the Cook Islands and has established more than 4,000 trusts over the past 40 years, with medical professionals now one of its fastest-growing client segments.

Arand says most clients have between US$2 million and US$10 million in assets and use offshore trusts as part of long-term wealth protection planning.

The Cook Islands became internationally known for asset protection trusts after introducing specialised legislation in the late 1980s designed to shield assets from future creditor claims, provided structures are established before legal action begins.

Arand says Southpac also uses Nevis, a Caribbean jurisdiction known for protective company legislation, as part of some client structures.

“For many clients, a Cook Islands trust may sit above a Nevis company, creating two layers of protection across separate jurisdictions,” Arand says.

He says their ability to operate across both the Cook Islands and Nevis is one of the firm’s points of difference in the international asset protection market.

Offshore trusts have long attracted controversy globally, but Arand says Southpac operates a comprehensive due diligence programme before taking on clients, including client verification, background checks, sanctions screening, politically exposed person checks and ongoing monitoring.

“Prospective clients can be declined outright where there are concerns around sanctions exposure, criminal activity, tax transparency or existing legal claims,” Arand says.

The Cook Islands was rated compliant or largely compliant across 38 of 40 compliance recommendations set by global standards body the Financial Action Task Force, in its latest international review, compared with New Zealand’s 34.

The financial services firm is now preparing for further expansion of its referrer network of attorneys, wealth advisers and other professional advisers across North America, including a series of meetings with specialist asset protection lawyers in Los Angeles, San Diego and Canada.

“There are thousands of lawyers across the US advising on domestic asset protection, but many still do not fully understand offshore structures,” Smith says.

“That represents a significant growth opportunity for us.”

The company currently employs 26 staff in New Zealand alongside teams in the Cook Islands, Nevis and the Philippines.

Arand says offshore trust administration has quietly become a significant professional services export industry, linking New Zealand, the Cook Islands and North America, with offshore financial services estimated to contribute about 8 per cent of the Cook Islands’ economy, making it one of the country’s largest industries outside tourism.

He says the firm expects North America to remain its primary growth market as more US professionals seek offshore asset protection structures traditionally associated with ultra-wealthy investors.

Consumer Trust & Market Dynamics

A session titled Seafood in the Spotlight: Trust. Taste. Tomorrow’s Consumer will present findings from a GlobeScan bi-annual survey commissioned by the Marine Stewardship Council (MSC), tracking consumer attitudes across 20+ global markets. Fresh from its debut at Seafood Expo Global in April, the research lands in Singapore at a critical moment. Attendees will explore how rising sustainability expectations, cost-of-living pressures and shifting retail dynamics are reshaping purchasing decisions and what it takes to build durable consumer trust.

The most pressing issues facing the Asian shrimp trade will be discussed in a session around rebalancing export-dependent supply as demand and price signals shift across major markets. Amid reduced China import pull, elevated US tariffs and uneven farm output trends, these forces are already reshaping trade flows, pricing power and production planning decisions and will determine which Asian producers can protect margins and maintain market access in 2026–2027.

Innovation & Technology

A panel of industry insiders will discuss the rapid rise of recirculating aquaculture systems across the region in RAS Fish Farming: Why is Asia Leading the Way. The panel will deliver an honest assessment of real-world challenges alongside compelling results already being achieved in markets across Asia, and what this leadership position means for the future of sustainable fish production worldwide.

A session around Asia’s growing demand for seafood processing will discuss how advanced automation, productivity gains and a sharper focus on consumer trends are significantly changing the industry across Asia. Challenging market conditions are driving the industry to rethink the future of the processing environment, with innovative tools and precise systems now enabling processors to optimize resource utilization and promote sustainability to drive maximum profit. The session features Marcel Franz, Managing Director of BAADER Asia and Nils Rabe, Global Sales Director Fish at BAADER.

Eric Enno Tamm, CEO of ThisFish Inc. will map the practical and transformative applications of AI across seafood supply chains in The Definitive Guide to AI & the Tuna Value Chain. From machine learning and computer vision to generative AI and AI agents, Tamm will outline how these technologies are already reshaping operations and offer a forward-looking vision of what an AI-optimized tuna value chain could look like from boat to plate.

Food Integrity & Digital Resilience

FAO GLOBEFISH convenes a timely session on Aquatic Food Fraud: Mislabeling, Market Demand and Consumer Trust. Drawing on FAO’s recent technical paper on food fraud in the fisheries and aquaculture sector, the session will examine a problem of significant scale: up to 20% of fisheries and aquaculture products may be mislabeled globally, with fraud particularly prevalent in processed products, restaurants and catering. The session will examine how price incentives, supply chain complexity and governance gaps interact to enable fraud, and what governments, industry, retailers and standard-setting bodies are doing to address it.

The Invisible Net: Securing the Digital Integrity and Resilience of the Asian Seafood Supply Chain is a session led by the President of the Cyber Security Alliance for the Seafood Industry (CSAFI) that will discuss the emerging risk for the sector. As seafood supply chains become increasingly powered by IoT-enabled processing plants, AI-driven logistics and blockchain-backed traceability, they also become vulnerable to cyberattack. With incidents on global logistics networks rising over 900% in five years, a single breach can trigger immediate product spoilage, financial loss and reputational damage.

The session will present a 2026 roadmap for protecting operational technology, defending traceability data against digital fraud and making the business case for cybersecurity as a core ESG and trade compliance imperative.

HONG KONG SAR – Media OutReach Newswire – 18 June 2026 – Shell Hong Kong Limited (Shell) and St. Paul’s Hospital on Tuesday held the “Shell x St. Paul’s Hospital – Integrated Decarbonisation Solutions Kick-off Ceremony”, reinforcing their shared commitment to sustainable development. As one of the world’s largest suppliers of biofuels, Shell has been promoting renewable diesel as a practical, lower-carbon energy solution. St. Paul’s Hospital is the first hospital in Hong Kong to adopt Shell Renewable Diesel Blend R33¹ for its boiler system. The switch required no modification to its existing equipment and offers up to 30%² less CO₂e emissions on a life cycle basis³ compared to EN 590 B0 diesel⁴. In addition, St. Paul’s Hospital installed Shell Recharge electric vehicle charging facilities in its parking lot and joined Shell’s CO₂ Compensation Programme as part of its low-carbon initiatives.

First hospital in Hong Kong: adopting renewable diesel for boiler systems

Shell is committed to “Power Progress Together” by working together with their customers and partners, to provide the energy products that people need to power their lives and businesses today, while helping to build the low-carbon energy system of the future. With Shell’s support, St. Paul’s Hospital has pioneered a healthcare first in Hong Kong to implement Shell Renewable Diesel Blend R33¹ to power its boiler system.

Renewable diesel: enabling value chain decarbonisation for businesses

In response to St. Paul’s Hospital’s need for a stable low-carbon energy solution, Shell introduced Renewable Diesel Blend R33¹, which offers up to 30%² less CO₂e emissions on a life cycle basis³ compared to EN 590 B0 diesel⁴, helping the hospital reduce value chain emissions and meet its Scope 1 and Scope 2 targets.

Compatible with conventional diesel equipment

The launch of Shell Renewable Diesel marks a significant milestone in Shell’s support in the energy transition journey in Hong Kong. Mr. Dick Chan, General Manager of Shell Commercial Fuels – Hong Kong and Macau of Shell Hong Kong Limited, said: “We are honoured to witness St. Paul’s Hospital becoming a low-carbon promoter in Hong Kong’s healthcare sector, as the first to adopt Shell Renewable Diesel Blend R33¹. This represents the shared commitment of both the energy sector and the healthcare sector to work together for a sustainable future.”

Businesses selecting sustainable low-carbon energy solutions often face challenges such as capital investment, equipment compatibility, and operational impact. Shell Renewable Diesel is fully compatible with conventional diesel boilers or engines and can serve as a direct replacement fuel without any modifications or adding new equipment⁵, helping businesses lower costs and emissions. It also reduces regulated air pollutants⁶, making it suitable for use across various industries including construction, transport and logistics, industrial operations, and healthcare.

Comprehensive technical support for a smooth transition

A hospital’s boiler system is essential to daily operations. It supplies hot water and steam for the central heating system, wards, operating theatres, laundry services, and sterilisation equipment. Any disruption to boiler operations would have a significant impact on the hospital functioning. For this reason, St. Paul’s Hospital places great importance on the stability of its fuel supply. Switching to Shell Renewable Diesel Blend R33¹ required no modification to the hospital’s existing boiler system. To ensure a smooth transition, Shell provided professional technical support and conducted comprehensive inspections of the boiler system before the switch to ensure continued safe and reliable operation.

Mr. Gilbert Lee, General Manager of St. Paul’s Hospital, welcomed the collaboration. He said: “It is an undeniable fact that renewable energy has become a key direction of future energy transition, aligning with the global trend towards low carbon and environmental sustainability. Looking ahead, St. Paul’s Hospital will continue to collaborate with different sectors to promote more practical and effective low-carbon measures, contributing to a greener and healthier future for both the hospital and the wider community.”

Advancing low-carbon operations towards a sustainable future
In addition, St. Paul’s Hospital continues to advance low-carbon operations through its collaboration with Shell, taking a multi-pronged approach to building a low-carbon energy ecosystem. This includes the installation of two 50kW Shell Recharge fast-charging facilities in the hospital’s parking lot, providing visitors and staff with a more environmentally friendly and convenient energy option. At the same time, the hospital has adopted low-carbon fuel solutions and actively participated in Shell’s CO₂ Compensation Programme, supporting independently verified environmental, technology, and waste management projects. Through a simple and cost-efficient approach, these initiatives help compensate unavoidable carbon emissions from daily operations while promoting sustainable development in the communities where the projects are located.

Together, these initiatives not only enhance the hospital’s overall sustainability performance but also encourage the healthcare sector to explore low-carbon operational models, contributing to a healthier and more sustainable future.

Shell will continue to work with St. Paul’s Hospital and other partners to promote practical low-carbon solutions, which fully support Hong Kong’s goal of achieving carbon neutrality by 2050 and create a sustainable environment for future generations.

Notes:

1. Shell Renewable Diesel Blend R33 contains up to 33% ISCC-certified renewable components.
2. Between 27% and 30% less CO₂e. CO₂e (carbon dioxide equivalent) includes CO₂, CH₄, N₂O emissions.
3. The life-cycle assessment of a product’s CO₂e emissions includes emissions associated with feedstock production, feedstock transport, fuel production, fuel transportation and distribution, and combustion.
4. Calculated by comparing to a GHG baseline intensity of 92g CO₂e/MJ on a Well-to-Wheel basis, representative of an EN590 B0 diesel and calculated by Shell with emission factors from JEC Well-to-Tank report v5 (Link: https://data.europa.eu/doi/10.2760/959137) and internal Shell studies.
5. When switching from diesel. Based on Shell’s operability studies and market experience to date. Vehicle handbook and/or label at the fuel tank socket must be checked for OEM approval. Not applicable for passenger cars.
6. Actual effects and benefits may vary according to vehicle type, vehicle condition and driving style. Compared to EN590 B0 diesel. Not applicable for passenger cars. The tailpipe out emission benefit can be limited for vehicles with advanced exhaust aftertreatment systems.
7. Between 80% and 90% less CO₂e. CO₂e (carbon dioxide equivalent) includes CO₂, CH₄, N₂O emissions.

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Shell’s net carbon intensity

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Shell’s net-zero emissions target

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Forward-Looking non-GAAP measures

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