HONG KONG SAR – Media OutReach Newswire – 11 May 2026 – Invest Hong Kong (InvestHK) is set to broaden its strategic engagement with the African continent as Associate Director-General of Investment Promotion Ms Loretta Lee today (May 10) embarks on an eight-day visit to Johannesburg, South Africa, and Kigali, Rwanda. The mission aims to strengthen economic ties with African economies and promote Hong Kong as the premier springboard for African enterprises to tap into the Chinese Mainland and Asia-Pacific markets.

Ms Lee said, “Africa holds a strategic position in the Global South, representing a vital engine of growth in an era of global economic uncertainty. Interconnectivity is the key to unlocking this potential, and Hong Kong plays a strategic role in linking capital, talent, and innovation and technology between Africa, the Chinese Mainland, and international markets to drive high-quality, multilateral growth. As the Government’s arm for both inward investment and Chinese Mainland enterprises aiming to go global, InvestHK facilitates two-way investment through strategic market insights, extensive global access, targeted promotion and policy facilitation. “

Ms Lee will visit Johannesburg from May 10 to 13 to meet with representatives from the local chambers, financial institutions, banks, fintech interests, and business and professional services sectors. Extending her mission to Kigali, Rwanda, from May 13, Ms Lee will represent InvestHK at the Africa CEO Forum to drive high-level exchanges with C-suite executives from the continent’s leading multinationals.

African enterprises establishing a presence in Hong Kong can benefit from a globally recognised common law system and Asia’s most competitive tax regime. Most recently, Hong Kong has further sharpened its competitive edge by announcing a halve in the profits tax to 8.25 per cent from the standard 16.5 per cent for qualifying physical commodity traders. By combining this fiscal incentive with the city’s status as the world’s pre-eminent offshore Renminbi hub, Hong Kong offers African commodities exporters a high-liquidity, efficient gateway to Asian markets.

In line with the advancement of the National 15th Five-Year Plan, Hong Kong is leveraging its status as a “super connector” and “super value-adder” to support national development. As China-Africa economic relations pivot towards high-value trade and investment, Hong Kong is uniquely positioned to accelerate two-way capital flows – spurring growth across finance, shipping, and innovation and technology.

Citing the South African national rugby team’s recent first-ever title at the Hong Kong Sevens, Ms Lee emphasised that such vibrant people-to-people connections are not merely symbolic, but serve as a meaningful foundation for driving bilateral economic connection.

Hashtag: #InvestHK

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

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

Highlights

• Canyon to materially increase strategic stake in Camrail from 9.1% to 26.9%, securing greater influence over critical rail infrastructure
• Completion of strategic 42.8% Investment in Terminal Bois du Port de Douala S.A., operator of Port of Douala, strengthening control over export logistics
• Preparation for tracklaying underway at both Inland Rail Facility and Port of Douala, advancing integrated logistics network
• First bauxite shipment from Minim Martap on schedule for late Q3, 2026 with first production imminent

PERTH, Australia, May 10, 2026 (GLOBE NEWSWIRE) — Canyon Resources Limited (ASX: CAY) (“Canyon” or “the Company”) is pleased to present an update on development activities at its Minim Martap Bauxite Project (“Minim Martap” or “the Project”), located in Cameroon, as the Company progresses towards first production and initial shipments.

The Company is pleased to advise that its in-country subsidiary Camalco Cameroon S.A. (“Camalco”) has paid a cash consideration of XAF 9.852 billion (approximately A$23.8 million) to increase its equity holding in Camrail from 9.1% to 26.9%, representing a significant strategic investment in the country’s primary rail transportation company. This enhanced stake will strengthen the Company’s ability to remain closely informed and actively engaged in developments relating to the PQ2 upgrade, while also securing timely bauxite transportation slots with Camrail. The increased involvement is expected to enhance oversight, coordination and strategic alignment with the Minim Martap Project, further de-risking the Company’s mine-to-port logistics chain as it advances toward production.

The increased investment in Camrail follows Canyon’s initial investment in Cameroon’s rail network operator in the first quarter of 2025 and is expected to complete in Q2, 2026, following in-country administrative registration of the newly acquired shares in Cameroon.

To further de-risk logistics, Canyon, through its in-country subsidiary Camalco, has completed a CFA 347.447 million (approximately A$0.8 million) strategic investment in Terminal Bois du Port de Douala S.A. (“TBPD”) to obtain a 42.8% stake in the operator of the Port of Douala.

The agreement complements Canyon’s existing Port Access Agreement which grants Canyon the right to export bauxite and alumina, as well as import raw materials essential for mining operations at Minim Martap.

The Port Access Agreement also provides Canyon with access to the Bois du Port de Douala to evaluate and optimise key logistical solutions in relation to site layout plans, construction requirements, and anticipated production metrics to ensure a seamless infrastructure network from mine to port. Refer to the ASX announcement dated 28 April 2025 for further details regarding the Port Access Agreement.

Commenting on the Company’s recent strategic investments, Chief Executive Officer Mr Peter Secker said: “By increasing our stake in Camrail to 26.9% and executing a strategic 42.8% investment in Terminal Bois du Port de Douala S.A. which operates the Port of Douala, Canyon is securing direct influence over the critical rail and port infrastructure that underpins our operations. These initiatives significantly enhance coordination, improve operational certainty, and materially de-risk our mine-to-port logistics as we move into imminent production.

“These are strategic, high-impact investments that reinforce our integrated logistics strategy, support the efficient ramp-up of Minim Martap, and position the Project for a long and reliable operating life.”

Image 1: Port of Douala

At Minim Martap the surface miner was mobilised to site at the Daniel Plateau in April, for the commencement of trial mining in mid Q2, 2026 allowing bauxite stockpiles to be built up at the mine, Inland Rail Facility (IRF) and port before the first bauxite ore shipment in late Q3, 2026.

Initial production will be a major milestone for the Minim Martap Bauxite Project and coincides with upgrade works on the haul road that connects the Danielle Plateau to the IRF.

Tracklaying at the IRF and bulk earthworks at the Port of Douala have commenced in preparation for rail operations to allow storage of bauxite ores at the port prior to the first shipment. The first seven locomotives are expected to arrive at the Port of Douala in late Q2, 2026 followed by the rail wagons in July 2026 ahead of first shipment of bauxite ore in late September, 2026.

Image 2: Site works at IRF

Canyon continues to engage with several potential offtake partners, with the Company aiming to finalise agreements following the completion of initial bauxite shipments, allowing Canyon to demonstrate the high grade, high purity of the Minim Martap ore reserve, which comprises of 51% alumina and approximately 2% silica.¹

The Feasibility Study for the proposed value-adding alumina refinery is scheduled to be completed by Q3 2026.

This announcement has been approved for release by Canyon’s Board of Directors.

About Canyon Resources

Canyon Resources is developing its flagship Minim Martap Bauxite Project in Cameroon, which contains over 1.1 billion tonnes of high-grade, low contaminant bauxite, with significant exploration upside. Minim Martap ranks among the world’s richest bauxite deposits, with an Ore Reserve of 144DMt at 51.2% Al₂O₃ and 1.7% SiO₂ and a JORC Mineral Resource Estimate of 1,102Mt at 45.3% Al₂O₃.

^{________________________________
1} Refer ASX Announcement dated 1 September 2025 Definitive Feasibility Study Results and Reserves Upgrade

(1) Ore Reserves reported as per JORC Code
(2) Mineral Resources reported as per JORC Code, at a cut-off grade of 35% Al₂O₃. Makan & Ngaoundal tenements are included

Table 1: Ore Reserves and Mineral Resources – September 2025

Forward looking statements

This announcement contains “forward-looking statements” and “forward-looking information”, such as statements and forecasts which include (without limitation) financial forecasts, production targets, industry and trend projections, statements about the feasibility of the Project and its financial outcomes (including pursuant to the DFS), future strategies, results and outlook of Canyon and the opportunities available to Canyon. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “is expected”, “is expecting”, “budget”, ‘outlook”, “scheduled”, “target”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes”, or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Such information is based on assumptions and judgments of Canyon regarding future events and results. Readers are cautioned that forward-looking statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, targets, performance or achievements of Canyon to be materially different from any future results, targets, performance or achievements expressed or implied by the forward-looking statements and information.

Forward-looking statements and information are not guarantees of future performance and involve known and unknown risks, uncertainties, sensitivities, contingencies, assumptions and other important factors, many of which are beyond the control of Canyon and its directors and management. Past performance is not a guide to future performance. Key risk factors (including as associated with the DFS) are detailed (non-exhaustively) in this announcement or in Canyon’s previous ASX announcements. These and other factors (such as risk factors that are currently unknown) could cause actual results, targets, performance or achievements anticipated (including in the DFS) to differ materially from those expressed in forward-looking statements and information.

Forward-looking statements and information (including Canyon’s belief that it has a reasonable basis to expect it will be able to fund the costs of the Project for its estimated life of mine) are (further to the above) based on the reasonable assumptions, estimates, analysis and opinions of Canyon made in light of its perception of trends, current conditions and expected developments, as well as other factors that Canyon believes to be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. Although Canyon believes that the assumptions and expectations reflected in such forward-looking statements and information (including as described throughout this announcement) are reasonable, readers are cautioned that this is not exhaustive of all factors which may impact on the forward-looking statements and information. Canyon does not undertake to update any forward-looking statements or information, except in accordance with applicable securities laws.

Investors should note that there is no certainty that the Project will be feasible and there can be no assurance of whether it will be developed, constructed and commence operations, whether the DFS results will be accurate, whether production targets will be achieved or whether Canyon will be able to raise funding when it is required (nor any certainty as to the form such capital raising may take, such as equity, debt, hybrid and/or other capital raising). It is also possible that such funding may only be available on terms that dilute or otherwise affect the value of Canyon’s shares. It is also possible that Canyon could pursue other ‘value realisation’ strategies such as sale, partial sale, or joint venture of the Project. Risk factors which are set out (non-exhaustively) in this announcement, or in Canyon’s previous ASX announcements, highlight key factors identified by Canyon which may cause actual results to differ from the DFS or may otherwise have material detrimental impacts on Canyon and its business.

Mineral Resources and Ore Reserves

This announcement contains estimates of the Mineral Resources and Ore Reserves estimated for the Project. This information in this announcement that relates to those Mineral Resources and Ore Reserves has been extracted from Canyon’s accompanying ASX announcement entitled “Definitive Feasibility Study Results and Reserves Upgrade Confirms Minim Martap as a Tier-One Bauxite Operation” dated 1 September 2025, a copy of which is available at www.asx.com.au. Canyon confirms that it is not aware of any new information or data that materially affects the information included in that announcement and, in relation to the estimates of Mineral Resources and Ore Reserves, confirms that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The Competent Person for the Mineral Resources estimate in the announcement was Mr. Rodney Brown and the Competent Persons for the Ore Reserve estimate in the announcement was Mr. Donald Eld.

Production Targets and Financial Forecasts derived from the Production Targets

This announcement contains production targets for the Project, which are 100% underpinned by the Proved and Probable category Ore Reserves estimated at the Project pursuant to the JORC Code (2012). The estimated Ore Reserves underpinning the production targets have been prepared by a competent person in accordance with the JORC Code.

The Inferred category Mineral Resource estimates at the Project have not been included in the Ore Reserves or production targets and have not been included when determining the forecast financial information detailed in this announcement. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources (or Ore Reserves) in relation to that mineralisation.

The production targets for the Project and the financial forecasts disclosed in this announcement (including as derived from those production targets) are based on the material assumptions outlined in this announcement and are subject to various risk factors, such as those (non-exhaustively) outlined, or referred to, in this announcement and in previous ASX announcements. These include assumptions and risk factors about the availability of funding. While Canyon considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the Mineral Resource and Ore Reserve estimates are accurate or that the production targets or financial forecasts as indicated in this announcement will be achieved.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/fe7ec6d8-dec9-4d74-b0f8-44cde1e5f482

https://www.globenewswire.com/NewsRoom/AttachmentNg/e135a9be-e363-4859-b95f-6f34c590bb05

– Published by The MIL Network

HONG KONG SAR – Media OutReach Newswire – 11 May 2026 – Yeebo (International Holdings) Limited (“Yeebo” or the “Company”, stock code: 259, together with its subsidiaries is referred to as the “Group”) today responded to the preliminary notice of penalty issued by China Securities Regulatory Commission (“CSRC”) against Suzhou QingYue Optoelectronics Technology Co. Ltd. (“Suzhou QingYue”, SSE Stock Code: 688496), reiterating that the Company and its subsidiaries are not involved in the relevant investigation, and that the incident had no significant impact on the Group. Yeebo’s prompt response fully demonstrates the management’s adherence to prudent and responsible governance principles, as well as its commitment to safeguarding the overall interests of shareholders and investors.

Swift Action Taken to Maximize Risk Segregation

The Group clearly stated that it had previously disclosed in its 2025/2026 interim report that, the Group confirmed neither the Company nor its subsidiaries were involved in the investigation initiated by the CSRC in connection with the “Notice of Case Filing” issued to Suzhou QingYue regarding alleged false information included in its periodic financial reports. In response to the incident, and based on prudence and corporate governance considerations, the Board of Directors has resolved to initiate a process to reduce the Group’s level of involvement in Suzhou QingYue.

Emphasizes No Involvement by the Group’s Management or Governance, with a Complete Exit from Suzhou QingYue

Mr. Leung Tze Kuen, Executive Director of the Company, has resigned as a non‑independent director of Suzhou QingYue, with effect from 31 March 2026. Following the resignation, the Group has fully exited the Suzhou QingYue Board and has ceased all involvement in Suzhou QingYue’s financial, operational, and management decision‑making. The Group further emphasizes that none of its directors or employees has ever been involved in Suzhou QingYue’s daily operations, nor involved in the Incident whatsoever.

Minimal Investment Stake and Limited Financial Impact

From a financial perspective, as at 30 September 2025, the carrying value of the Group’s investment in Suzhou QingYue amounted to approximately HK$294 million, representing approximately 5.2% and 6.0%, respectively of the total assets and net assets of the Group. Should the Group be required to recognize any impairment provision on its investment in Suzhou Qingyue in the future, it is not expected to have any material impact on the Group’s cash flow.

Hashtag: #Yeebo

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

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

Former Police Commissioner Andrew Coster told the chair of the police watchdog that a woman who was accusing Jevon McSkimming of sexual offending had “effectively acknowledged her desire to ruin his career”.

In the letter, obtained by RNZ, Coster said the disgraced former Deputy Police Commissioner was “highly remorseful” for having an affair and had “owned it publicly” in his church community.

The letter was first revealed in a scathing report by the Independent Police Conduct Authority (IPCA) into how police handled allegations of sexual offending by McSkimming relating to a woman he had an affair with.

The IPCA’s report said the letter was sent by Coster to the chair of the IPCA, Judge Kenneth Johnston KC, on 22 October 2024, just over a week after the IPCA informed police they were doing an independent investigation into the woman’s allegations.

RNZ has obtained a copy of the letter under the Official Information Act.

Do you know more? Email sam.sherwood@rnz.co.nz

The letter begins with Coster saying he was writing to “formally express my concerns” about the chain of events leading up to the launching of an independent investigation by the IPCA into McSkimming and “its potential impact” on McSkimming’s career.

“My primary concern relates to the Authority’s decision to commence an investigation at such a critical point in the Commissioner appointment process, given all of the circumstances of this case.”

Coster then listed 13 “key facts as I understand them”.

The first was that McSkimming had an affair with the woman, referred to as Ms Z in the IPCA’s report, “many years ago”.

“He is highly remorseful of this fact and has worked through it not only with his wife but within his (large) church community, where has owned it publicly.”

Coster also said McSkimming had declared the relationship through “multiple appointment processes”.

The former police commissioner said that following the end of the relationship Ms Z was “clearly impacted”.

“She has embarked on a persistent course of communications directed at Jevon, aimed at discrediting him. These communications have been sent far and wide over an extended period of time (to Police email addresses, politicians, media and the Authority).”

He said Ms Z had never put her name to the communications, adding that the allegations had “never been supported with information beyond the bare allegation itself”.

“The only way that Police or the Authority knows (Ms Z’s) identity is because Deputy Commissioner declared it to Police as part of expressing his concern about the course of conduct aimed at him.”

Coster also alleged that Ms Z had in communication with McSkimming “effectively acknowledged her desire to ruin his career”.

McSkimming brought a complaint of criminal harassment after exploring a “wide range of options to stop the behaviour directed at him and his family”.

Police initially tried to provide support to Ms Z through the joint Police / Health multidisciplinary Fixated Threat Assessment Unit (FTAC) using a “mental health-led approach”.

“Only when a supportive intervention failed to shift the behaviour, did Police take the step of prosecution for criminal harassment. This was not a path we embarked on lightly, given the circumstances.

“It is clearly the Police view that Jevon is the victim of the offence and that there is evidential sufficiency to prove the charge.”

Coster said that through the same period police had tasked Detective Inspector Nicola Reeves to review all of the correspondence received and then approach Ms Z to see whether any complaint would be forthcoming.

“Despite this extended history and opportunity for the Authority to set expectations of any Police investigation or commence its own investigation in this matter, it was only after receiving a request from the Public Service Commission for the interim Commissioner appointment process that the Authority decided to initiate a Category A investigation.”

In the letter, Coster said he understood the IPCA considered Police did not share all of the relevant information that it should have about some anonymous allegations made to Police 105.

However, he said the communications were “not materially different” to allegations that had been known to the IPCA for some time, and that they were made anonymously and without any information to “properly support an investigation”.

“They were made as part of a course of conduct by [Ms Z] that amounts to criminal harassment, of which Jevon is the victim.”

Coster said as a result of the investigation “belatedly commencing”, McSkimming had missed out on the opportunity to be interim Commissioner.

“Which otherwise he would have been. This will make a material difference to him in the substantive appointment process.”

The Public Service Commission (PSC) had advised McSkimming that the IPCA had indicated the investigation would take three to six months to be resolved.

“If that is the case, his name will not go forward for consideration for appointment to be the next Commissioner,” Coster said.

“All of this is occurring whilst Jevon has not been advised of the nature of the investigation against him in terms of any substantive complaint or the allegations that are being investigated. This is seems contrary to principles of natural justice. [sic]”

Coster wrote he was concerned the IPCA may “inadvertently significantly increase Jevon’s victimisation” from the “pattern of harassment” which could be “irreversible in terms of his career”.

“This is against the backdrop of an issue that has been visible for a very long time and was capable of being resolved long ago – indeed Jevon considered that it had been.

“I do understand the difficult position for the Authority in the circumstances. However, it is unfair for Jevon to suffer the consequences of this. A standard investigative approach and timeline in this situation risks a very unjust outcome.”

He said the matter needed to be resolved before the substantive appointment process reached its point of making recommendations to Ministers.

“I respect that the Authority must exercise its own judgement but I trust this background may assist. I would be happy to discuss further.”

About 20 minutes after sending the letter he forwarded a copy of it to McSkimming.

The IPCA said in its report it was “abundantly clear” the version of “facts” that Coster set out were based on what McSkimming told him.

RNZ approached a spokesperson for Coster this week for comment on the letter. They said Coster has “said all that he intends to on this matter” and referred to his earlier statements.

After resigning from his role as chief executive of the Social Investment Agency, Coster released a statement and said his resignation was “a result of my acceptance of full responsibility for the shortcomings” identified in the report.

“I regret the impact on the young woman at the centre of this matter and sincerely apologise to her for the distress caused.

“I accept that I was too ready to trust and accept at face value Deputy Commissioner McSkimming’s disclosure and explanations to me. I should have been faster and more thorough in looking into the matter.”

Coster acknowledged he should have more fully investigated the allegations when they were brought to his attention, “rather than assuming that their previous disclosure to senior Police staff a few years earlier would have resulted in an investigation if necessary”.

“It is clear that Police’s handling of the whole matter was lacking and that I was ultimately responsible for those matters. It was sobering to read of a number of missed opportunities which should have proceeded differently and more appropriately.”

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

The failure of the economy to fire up means New Zealanders will spend five fewer days paying tax this year.

Business advisory network Baker Tilly Staples Rodway estimated the total tax take rose 1.9 percent on last year, which meant New Zealanders would spend just 130 days paying tax this year, five days less than last year.

Tax Freedom Day, which was the hypothetical date New Zealanders would have paid their tax bill for the year, was expected to take place on 10 May, meaning whatever they earn after that date was theirs.

Baker Tilly Staples Rodway tax director Michael Rudd said the reason for the shorter forecast date was because this year’s tax increase was far less than last year’s increase of 3.9 percent, or 15.6 percent in 2022, when the economy grew 4-point-3 percent.

A flat corporate tax take of 1.2 percent indicated businesses were struggling to grow, with inflation outpacing GST revenues and a sugar rush of trust dividend payments drying up.

“An optimist might say that corporates are managing their tax payments to take advantage of the new Investment Boost regime, which provides a 20 percent year-one tax deduction for new business assets purchased after May 2025,” Rudd said.

However, he said a large increase in the number of business liquidations was probably having a bigger influence.

“The cost of those failures is often borne by suppliers who never get paid, affecting their bottom line.”

In contrast, Rudd said Australians were paying three days more tax this year, not five days less.

However, they celebrated their Tax Freedom Day three weeks ago, which was fairly typical.

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

The Regulation Minister is taking aim at what he says is excessive red tape around rooftop solar that makes it too hard for home-owners and businesses to set up panels.

David Seymour is ordering a review of the installation process, saying he wants to make New Zealand the easiest place in the world to switch to solar.

He said just three to four percent of New Zealand households used solar, despite average power savings of about $1000 a year.

“Solar installation in New Zealand is a red tape nightmare. Just getting it approved can take months,” he said.

“There are up to eight layers of sign-off before small-scale solar systems can be switched on. This requires up to five separate site visits, from four separate entities. For example, during installation the installer often cannot turn off or reconnect the fuse, update the meter, or carry out the required independent electrical inspection. These tasks must be done by other entities, requiring additional site visits.”

In parts of Australia, approval of similar low-risk solar could be granted within 24 hours, Seymour said.

“In Victoria Australia there is one layer of sign-off for small-scale solar installation. The whole solar installation process is managed and carried out by the chosen installer. Standard installations are inspected by a licensed electricity inspector without a site visit. Photos clearly show compliance. A site visit is only carried out in person if something unusual or non compliant is identified in the photos.”

Seymour said more than 30 percent of Australian households used solar power.

He made the announcement at Electric Cherries near Cromwell on Thursday, which is believed to be the world’s first fully-electric farm, powered largely by solar.

Owner Mike Casey, who is also the chief executive of Rewiring Aotearoa, said regulations needed to keep pace with technology and he was pleased to see the government looking at ways to help.

“In Australia, virtual inspections allow the installs to be approved remotely and much more rapidly and other countries have centralised systems that don’t require a physical visit and use an auditing process to ensure standards are being met,” he said.

Researchers have said New Zealanders investing in solar will almost certainly save more money than they spend.

Casey said Rewiring Aotearoa wanted to see national standards across lines companies for solar and legalisation for plug-in solar set-ups which were becoming popular overseas.

“We need more solar in New Zealand, it is very safe when installers are well-trained and given our very low uptake rates at this stage, it is unlikely to affect the network. Approval should be instant here.”

Bureaucracy not the biggest barrier – solar expert

Alan Brent, professor and chairperson in Sustainable Energy Systems at Victoria University of Wellington, said upfront cost was the biggest barrier for most households considering solar – not the installation time.

“It’s not a technical issue in terms of how long it takes. I mean, I have a solar and a battery system in my house, and they came and installed it within a day. We have all the regulations in place … all the technology is there,” he said.

“It is quite a significant investment up front. And it’s quite complicated for people to think about what the long-term savings will be.”

Brent said the best thing officials could do to boost solar uptake was a public information campaign highlighting what residents would spend and what they would save.

The government could also help residents with the upfront costs, he said.

“Something similar to what we have with industry, like the GiDI (Government Investment in Decarbonising Industry) fund – that might be an option … a long-term loan that’s underwritten by the government,” he said.

German and Australian residents also received “quite reasonable” tariffs for returning electricity to the grid, he said.

“That’s provided the incentive for people to put up solar systems,” he said.

However Seymour said cutting red tape would help with upfront cost.

“The more people involved the more expensive it is. So if you’ve got to pay someone to come and do your disconnection and then another person to do the installation, then the first person comes back to do the reconnection, that all adds cost. But I think it’s also about hesitancy and being able to just do it. If you knew that you could get this done in a weekend, you’d be a lot more likely to do it than if you’d heard that your neighbours ended up taking a couple of months to do something that could have been much simpler,” he said.

“If I can honestly say that we have the simplest, most straightforward system in the world, then how much people take advantage of that is up to them.”

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

Investment spans equity positions in both SOMOSHOTELS and Cocana Resorts, with plans to bring the brands to five additional locations across Asia.

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

Trade and Investment Minister Todd McClay has welcomed the appointment of Ambassador Clare Kelly as Chair of the World Trade Organisation (WTO) General Council. 

It is only the second time a New Zealander has chaired the General Council, which is the highest-level WTO decision-making body in Geneva. 

“Ms Kelly brings deep trade and foreign policy expertise and experience to this job. Her appointment adds to New Zealand’s strong track record of contributing to an organisation that has well served our interests as a small, export driven economy,” Mr McClay says.

“As Chair of the General Council, Ms Kelly will focus on finding a way forward after the disappointing outcomes at the 14th Ministerial Conference of the WTO.

“She will be working hard to reach consensus on proposals to reform the WTO and to extend the WTO-wide prohibition on the imposition of tariffs on digital trade flows.”

Ms Kelly has served as New Zealand’s Ambassador and Permanent Representative to the WTO in Geneva since February 2022.

She previously served as Assistant Secretary of the Trade and Economic Group at the Ministry of Foreign Affairs and Trade and as New Zealand’s Ambassador to Mexico.

Ms Kelly will serve in the position for one year. She takes over from Ambassador Saqer Abdullah Almoqbel of Saudi Arabia.

MIL OSI

The company behind the Bendigo‑Ophir gold project in Central Otago has received Overseas Investment Office consent to purchase the land required to progress the development.

It’s a project that has faced public opposition from actor Sam Neill and some local landowners.

The consent allows Santana Minerals, through a New Zealand subsidiary, to buy around 3680 hectares of freehold land across Bendigo and Ardgour Stations.

The land will be used for open‑pit mining areas, processing and administration infrastructure, tailings storage and environmental offsetting, including 1200 hectares of large‑scale native planting and habitat enhancement.

Santana said the Bendigo‑Ophir project represents a capital investment of more than $500 million over its expected 13 to 14‑year life, with about 350 full‑time equivalent jobs during construction and operations.

The company said the project would also lift export receipts and provide a boost to the regional economy.

The OIO approval is subject to several conditions, including full settlement by the end of 2026 and securing fast‑track resource consent to build and operate the mine.

A final decision under the Fast‑track Approvals Act is due in October this year.

If those approvals are granted, Santana is targeting first gold production in early 2028.

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

TikTok leads new BOI approvals as Thailand moves to strengthen power readiness, clean energy access and fast-track strategic investment

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

Trade and Investment Minister Todd McClay has welcomed Costa Rica to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) today. 

“Costa Rica is a close friend to New Zealand with shared values and a likeminded approach to trade rules and liberalisation, and their accession offers opportunities for our exporters,” Mr McClay says. 

Over 94 per cent of New Zealand exports to Costa Rica will be duty-free from day one, rising to over 99 per cent within 10 years.

For New Zealand, key outcomes include full tariff elimination on day one on products such as sheep meat, seafood, horticulture, wine, and therapeutic respirators.

The agreement is also good for Kiwi meat and dairy farmers. Beef becomes tariff free after eight years, with dairy duty rates falling to zero over 13 years.

New Zealand has also secured strengthened commitments for investors as well as streamlined processes to do business with Costa Rica.

“The CPTPP is one of the most comprehensive trade deals ever concluded. It is a high standard agreement that underpins rules-based trade and economic integration in our region and beyond,” Mr McClay says.

“The continued expansion of the CPTPP is important for growing New Zealand’s preferential access to markets, as well as in response to increased challenges to the rules-based trade system.”

Note to editor:

Costa Rica will become the 13th Member of CPTPP and the second economy to accede to the Agreement, following the United Kingdom, which entered into force on 15 December 2024.

The next steps for Costa Rica’s accession are the signing of the Accession Protocol, expected in November, then individual parties will undertake their internal processes of ratification. For New Zealand this will include parliamentary review. 

Entry into force is expected in the second half of 2027.

CPTPP economies include Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom, and Viet Nam. Together they account for more than 15 per cent of world GDP – worth more than NZ$27 trillion.

MIL OSI

The NZ Transport Agency has restored millions of dollars of funding for the police to carry out driver breath testing after revelations last year that officers had falsely recorded thousands of tests.

The agency has authorised $18 million of funding to police following an independent analysis of breath testing data.

It comes as Minister of Transport Chris Bishop says he’s “frustrated” at the length of time it’s taking the agency to release the report.

“I’ve told them to get on with it ASAP,” he told RNZ.

RNZ revealed last year that about 130 police officers were under investigation throughout the country after 30,000 alcohol breath tests were “falsely or erroneously recorded”.

Each year, $24m of funding from the National Land Transport Fund (NLTF) for the Road Policing Investment Programme (RPIP) is dependent on the successful delivery of all speed and impairment activities to agreed specified annual levels, known as delivery dependent funding (DDF).

Do you know more? Email sam.sherwood@rnz.co.nz

This is assessed on a quarterly basis, with a pro-rated amount of DDF available to be authorised to spend ($6m per quarter).

Following RNZ’s reporting last year, NZTA halted $12m worth of funding until it was satisfied police had met their breath test targets.

In December it was revealed NZTA had commissioned an independent analysis of breath testing data to try and identify the full scale of falsely recorded tests.

On Monday, an NZTA spokesperson said the agency had confirmed police performance had met the required targets for the first three quarters of the 2025/26 financial year.

“Based on this a decision has been made to authorise the spending of the delivery dependent funding.”

NZTA expects to publish the findings of the independent analysis in the coming weeks.

Acting Assistant Commissioner of road policing and district support Superintendent Steve Greally said resolution of the issue required “extensive analysis and reassurance work across police”.

He said it had provided police an opportunity to “further strengthen our systems and reinforce the high standards expected of our people”.

“There has been a considerable effort made by our dedicated road policing staff across police to provide assurance that our practices and data remain accurate and reliable.

“The independent finding in respect to the significant efforts of our frontline being legitimate is pleasing.”

Greally said the continued expectation of staff was that they “deliver road policing activities every day with utmost professionalism and a vigourous commitment to preventing harm on roads”.

RNZ earlier obtained a series of weekly reports to Bishop on the issue under the Official Information Act.

One update, from 27 October, said NZTA had identified a preferred supplier to independently analyse the breath screening test data file provided by police.

“This independent analysis will identify whether any further irregularities (over and above any detected by NZ Police) are discernible.”

In an update to Bishop on 13 October, NZTA said police could not determine if any irregular testing was undertaken while officers were stationary.

“NZTA is supporting and encouraging NZ Police to identify what, if any, options exist for removing these limitations, and to look beyond current detection methods to ascertain the true scale of irregularities.”

Then Acting Deputy Commissioner Mike Johnson earlier told NZTA that while the algorithm had “proven effective” in identifying tests conducted while the device was in motion, “there remains limitations in detecting all forms of irregular testing, including those undertaken in specific locations”.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

The NZ Transport Agency has restored millions of dollars of funding for the police to carry out driver breath testing after revelations last year that officers had falsely recorded thousands of tests.

The agency has authorised $18 million of funding to police following an independent analysis of breath testing data.

It comes as Minister of Transport Chris Bishop says he’s “frustrated” at the length of time it’s taking the agency to release the report.

“I’ve told them to get on with it ASAP,” he told RNZ.

RNZ revealed last year that about 130 police officers were under investigation throughout the country after 30,000 alcohol breath tests were “falsely or erroneously recorded”.

Each year, $24m of funding from the National Land Transport Fund (NLTF) for the Road Policing Investment Programme (RPIP) is dependent on the successful delivery of all speed and impairment activities to agreed specified annual levels, known as delivery dependent funding (DDF).

Do you know more? Email sam.sherwood@rnz.co.nz

This is assessed on a quarterly basis, with a pro-rated amount of DDF available to be authorised to spend ($6m per quarter).

Following RNZ’s reporting last year, NZTA halted $12m worth of funding until it was satisfied police had met their breath test targets.

In December it was revealed NZTA had commissioned an independent analysis of breath testing data to try and identify the full scale of falsely recorded tests.

On Monday, an NZTA spokesperson said the agency had confirmed police performance had met the required targets for the first three quarters of the 2025/26 financial year.

“Based on this a decision has been made to authorise the spending of the delivery dependent funding.”

NZTA expects to publish the findings of the independent analysis in the coming weeks.

Acting Assistant Commissioner of road policing and district support Superintendent Steve Greally said resolution of the issue required “extensive analysis and reassurance work across police”.

He said it had provided police an opportunity to “further strengthen our systems and reinforce the high standards expected of our people”.

“There has been a considerable effort made by our dedicated road policing staff across police to provide assurance that our practices and data remain accurate and reliable.

“The independent finding in respect to the significant efforts of our frontline being legitimate is pleasing.”

Greally said the continued expectation of staff was that they “deliver road policing activities every day with utmost professionalism and a vigourous commitment to preventing harm on roads”.

RNZ earlier obtained a series of weekly reports to Bishop on the issue under the Official Information Act.

One update, from 27 October, said NZTA had identified a preferred supplier to independently analyse the breath screening test data file provided by police.

“This independent analysis will identify whether any further irregularities (over and above any detected by NZ Police) are discernible.”

In an update to Bishop on 13 October, NZTA said police could not determine if any irregular testing was undertaken while officers were stationary.

“NZTA is supporting and encouraging NZ Police to identify what, if any, options exist for removing these limitations, and to look beyond current detection methods to ascertain the true scale of irregularities.”

Then Acting Deputy Commissioner Mike Johnson earlier told NZTA that while the algorithm had “proven effective” in identifying tests conducted while the device was in motion, “there remains limitations in detecting all forms of irregular testing, including those undertaken in specific locations”.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

The official ceremony underscores Southeast Asia’s growing role in the global semiconductor value chain through collaboration, innovation and ecosystem-wide partnerships

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

Prime Minister Christopher Luxon has concluded a two-day visit to Singapore, where he met Singapore Prime Minister Lawrence Wong and shored up critical fuel supply with the signing of the Agreement on Trade in Essential Supplies (AOTES). 

“The visit was an opportunity to bolster New Zealand’s resilience to global shocks and strengthen our economic ties to Singapore,” Mr Luxon says. 

“The inaugural Annual Leaders’ Meeting between Prime Minister Wong and I was an important step in turning our Comprehensive Strategic Partnership into practical action.

“The AOTES, signed by Trade and Investment Minister Todd McClay and Singapore Minister-in-charge of Energy and Science & Technology Dr Tan See Leng, protects the movement of essential goods, such as fuel and food.

“In these uncertain times, having a reliable and trusted partner such as Singapore matters more than ever.

“Singapore is a critical partner in New Zealand’s economic development and there is huge scope for us to deepen our trade and investment links. That was the focus of the Singapore-New Zealand Leadership Forum, and it was exciting to see our senior government and business leaders coming together to explore new opportunities to work together.”

The Prime Minister also visited Jurong Island, the centre of Singapore’s refining and chemicals industry, with Finance Minister Nicola Willis.

“Jurong Island showed in practical terms why Singapore matters to New Zealand. As the supplier of a third of our fuel, Singapore is central to the fuel supply chains and infrastructure that support our economic and energy security.

“We spoke to executives from the major fuel companies to better understand how they are responding to the global fuel crisis and are confident that Singapore will continue to supply fuel to New Zealand,” Mr Luxon says.

The Prime Minister also called on President Tharman Shanmugaratnam during the visit.

“It was a valuable opportunity to reflect the depth of the New Zealand-Singapore relationship and our shared commitment to a stable and prosperous region.”

Mr Luxon visited Changi Naval Base for a defence engagement showcasing uncrewed surface vessels and new capabilities.

“This is a defence partnership forged over time and proven in practice. For generations, our troops have trained in each other’s countries. 

“Built on trust and shared service, our defence ties continue to support national and regional stability while evolving into new areas of capability and commercial collaboration,” Mr Luxon says.

MIL OSI

New Zealand and Singapore have today signed a major agreement to protect the movement of essential goods such as fuel and food.

The signing of the Agreement on Trade in Essential Supplies (AOTES), witnessed by Prime Ministers Christopher Luxon and Lawrence Wong, guarantees neither country will impose export restrictions on the other, and formalises practical cooperation on supply chain resilience. 

“The past few months have shown we live in a volatile world – Kiwis are seeing that every time they fill up their car. That is why we are hustling in the world to protect New Zealand and build our resilience in uncertain times,” Mr Luxon says.

“The AOTES is a demonstration of New Zealand and Singapore working together as trusted partners. In times of crisis, we know we can rely on each other.

“With a third of New Zealand’s fuel refined in Singapore, this Agreement turns trust into action – and right now, that’s keeping fuel flowing to New Zealand when it matters most.

“As the best food producer in the world, New Zealand has what the world wants. With this Agreement we are leveraging that special skill to protect what Kiwi communities need,” Mr Luxon says.

Trade and Investment Minister Todd McClay, who signed the AOTES, says it aims to reduce the risk of supply‑chain disruption.

“It is built on cooperation forged during the COVID‑19 pandemic and recognises that reliable access to essential goods is most critical during times of crisis.

“New Zealand and Singapore have a strong record of developing practical, modern trade rules together, including through the Trans-Pacific Strategic Economic Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Future of Investment and Trade Partnership and the Digital Economy Partnership Agreement.

“This Agreement is a world first and the latest example of our shared commitment to keeping fuel, food, medicines and other critical goods moving when they are needed most,” Mr McClay says.

The AOTES establishes binding commitments preventing either government from imposing export restrictions on an agreed list of goods – including fuel, foodstuffs, construction materials, and other essential supplies. 

It will be incorporated into the existing New Zealand-Singapore Free Trade Agreement, following domestic approval processes in both countries.

MIL OSI

Cancer patients across the lower South Island will benefit from more precise and advanced treatment with a new $4.3 million Linear Accelerator (LINAC) machine at Dunedin Hospital, Health Minister Simeon Brown says.

• High-precision, targeted cancer treatment
• Next-generation technology
• Shorter treatment times for patients

“This is a significant step forward for cancer care in the South, giving patients access to more advanced, highly targeted treatment closer to home,” Mr Brown says.

Dunedin Hospital operates three LINAC machines. This latest generation unit replaces one that had reached the end of its working life, ensuring patients continue to receive vital treatment for cancer, as well as some debilitating benign conditions.

“The new machine can target very small lesions to within one millimetre and can deliver radiation to tumour sites from many different angles. This allows higher doses of radiation to be delivered while minimising damage and side‑effect risks to surrounding healthy areas, including critical areas such as the brain.”

“The updated software also allows clinicians to treat multiple tumours at the same time, reducing overall treatment times for patients and allowing for some treatments that are not possible with older models.

“It also supports ongoing service development by giving clinical teams the opportunity to train on the latest technology and continue improving how care is delivered.”

The installation is part of a wider programme to upgrade and expand cancer treatment capacity across New Zealand, including a recent installation at the Taranaki Cancer Centre, with more planned across the country.

Mr Brown says the Government is focused on improving cancer outcomes for New Zealanders.

“Investments like this about building a stronger future for cancer care in the South, ensuring patients and their communities have access to quality, modern cancer treatment closer to home, now and for many years to come.”

MIL OSI

Kiwi exports to the European Union have rocketed by $3 billion in just two years under the New Zealand-European Union Free Trade Agreement (FTA), delivering a major boost to the economy and supporting jobs nationwide, Trade and Investment Minister Todd McClay says.

“Because the FTA entered into force early, our exporters got an immediate head start with tariff cuts and better access into what is now our fastest-growing major market,” Mr McClay says.

Exports to the EU hit $8.8 billion in the year to December 2025 – up 29 per cent, or nearly $1.9 billion. Two years ago, exports were $5.7 billion.

“On the Agreement’s second anniversary, Kiwi exporters have now chalked up an extra $3 billion in sales. This growth has significantly exceeded forecasts and expectations and shows what’s possible when we back our exporters and open new doors.

“It means the world is choosing more of the high-quality food, fibre and products our farmers, growers and businesses are known for.”

Some of the standout gains in the last year include butter exports up 121 per cent, meat up 38 per cent, industrial goods up 61 per cent, and tourism up 7.3 per cent.

One in four New Zealand jobs depends on trade. Mr McClay says the surge in exports is flowing directly into stronger regional economies, higher incomes and more secure jobs.

“Making full use of the Agreement is vital in a time of global uncertainty and supports New Zealand’s goal of doubling export value within a decade.

“Today we celebrate not only our strengthened trade to the EU, but also the strong relationship we have developed over many years. The EU remains a trusted and important partner for New Zealand.”

Export growth to the EU in the year to December included:
•    Total goods exports up 35 per cent to $6.7b
•    Services exports up 11 per cent to $2b, including:
–    tourism up 7.3 per cent to $1.1b
–    education-related exports up nearly 18 per cent to 245m
•    Meat up 38 per cent to $1.9b, including sheep meat up 50 per cent to $1.39b
•    Dairy up 58 per cent to 616m, including:
–    Butter up 121 per cent to 276m
–    Cheese up 400 per cent to 51m
•    Industrial exports up 61.3 per cent to 1.44b
•    Fruit and vegetables up 29.3 per cent to $1.36b, including $1.2b of kiwifruit
•    Seafood up 15.1 per cent to $384m
 

Note to editor:

Two-way goods and services trade between the EU and NZ increased 14 per cent to $23.21b in the year to December 2025.
 

MIL OSI

• With the new brand vision“Always with You, Always Ahead,“ we provide professional support to help customers navigate with confidence – from banking services to life protection planning. As a fully licensed bank, Ping An Digital Bank is rapidly expanding its retail banking business, having successively launched online and offline insurance, and wealth services, all accessible through one mobile app.
• Key operating indicators for 2025 demonstrated strong performance. As of 31 December 2025, total assets increased by 135% year-on-year, while net interest income for the year rose by over 60% year-on-year to more than HK$220 million.
• Retail banking has developed rapidly. As of the end of 2025, total customer deposits reached around HK$10.5 billion and continued to rise, surpassing HK$12.5 billion[1] by end of March this year.
• Lufax Holding Limited (“Lufax”) (06623.HK, NYSE: LU) has further injected HK$700 million in 2025 in support of Ping An Digital Bank’s expansion, demonstrating its strong confidence in Ping An Digital Bank’s development.

HONG KONG SAR – Media OutReach Newswire – 30 April 2026 – Ping An Digital Bank (International) Limited (“Ping An Digital Bank” or “PingAnDB”) announced its annual results for the year ended 31 December 2025. Embarking on a new journey with the launch of its latest brand proposition, “Always with You, Always Ahead,” Ping An Digital Bank continues to deliver comprehensive financial services, driving rapid growth in its retail banking business through a diverse range of financial products and user-centric banking services.

The key operating indicators of Ping An Digital Bank reflect healthy and robust growth in 2025, with core profitability steadily improving. Net interest income for the year exceeded HK$222 million, representing a year-on-year growth of approximately 62%. Total customer deposits maintained a steady upward trajectory, reaching around HK$10.5 billion as of 31 December 2025, and have since surpassed HK$12.5 billion^[1] by end of March this year.

Mr. Ronald Iu, Chief Executive of Ping An Digital Bank, said, “Our brand vision, ‘Always with You, Always Ahead,’ captures Ping An Digital Bank’s mission to empower our customers with peace of mind and our ambition to shape the financial landscape ahead. We believe a truly effective bank is one that is genuinely user-friendly. Over the past year, Ping An Digital Bank has achieved a lot of milestones, completing the transformation to a fully licensed bank offering integrated insurance, wealth service and deposits services. We are committed to becoming one of Ping An Group’s integrated financial platforms in Hong Kong, serving as a trusted financial partner for every individual and business, supporting them towards a brighter future.”

Ping An Digital Bank received a total capital injection of HK$700 million from Lufax in 2025, further accelerating the development of its retail banking business and strengthen its talent and technological capabilities. We recently launched the dual-advantage wealth solution, combining the agility of a brokerage with the security of a bank, along with online and offline insurance services. Customers can access a comprehensive range of financial services—including deposits, foreign exchange, cross-border remittances, wealth and insurance—at any time via a single mobile app. Moreover, customers can instantly deploy cash funds from their savings accounts to invest in HK stocks, U.S. stocks and funds. The service allows customers to effortlessly SWITCH between investments and deposits.

Amidst a volatile global environment, swift shifts in economic conditions and escalating geopolitical tensions are posing increasingly significant challenges for businesses. Among business banking customer of Ping An Digital Bank, the loan balance of trade-related enterprises account for the largest proportion. As a keen supporter of trade-related enterprises, we have actively explored the potential of business data to revamp account opening and loan approval processes for years. By systematically addressing pain points at each stage, we have achieved efficient and accurate assessment and approval procedures, benefiting a growing number of enterprises. Moreover, Ping An Digital Bank offers comprehensive one-stop business banking services—from account opening and foreign exchange to cross-border remittances, financing, and lending—fully meeting the practical needs of enterprises in both daily operations and international expansion. As of 31 December 2025, total loans had increased to HK$3.61 billion.

Looking ahead, Ping An Digital Bank will continue to anticipate customers’ needs, always thinking one step ahead to deliver services that save customers’ time, effort and cost. We will drive innovation in products and services, enabling both individuals and businesses to enjoy seamless, all-in-one financial experience tailored to their needs. Ping An Digital Bank remains dedicated to being user-centric, further strengthening its position as a key pillar within Ping An Group’s integrated financial platforms in Hong Kong, and serving as a strong and reliable partner supporting every customer’s ambitions.

For the full report of Ping An Digital Bank’s 2025 financial statements, please visit: https://www.pingandb.com/eng/financial-report.html

Investment involves risks. The price of investments fluctuates, sometimes dramatically. The price of investments may move up or down, and may become valueless. There is an inherent risk that losses may be incurred rather than profit made as a result of buying and selling investment products. Foreign investments carry additional risks not generally associated with the domestic market. You should carefully consider whether any investment products or services mentioned herein are appropriate for you in view of your investment experience, objectives, financial resources and circumstances.

Hashtag: #平安數字銀行 #PingAnDB #AnnualResults

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

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

By Sammy Carter, RNZ

Dozens have stood on a busy downtown Wellington street on Thursday morning creating a human bike lane for commuters, objecting to what they say are significant cuts proposed to the city council’s cycle infrastructure projects.

The Wellington City Council’s most recent annual plan pushes out the Paneke Pōneke bike network project completion from 10 years to 20 years, and decreases the budget from $115 million to just under $67 million.

Cycle Wellington is advocating for the council to reassess cuts given the fuel crisis and weather events, also telling Morning Report today that they want the government to back widespread cycling infrastructure.

Patrick Morgan from Cycle Wellington, leading the human bike chain, said: “We think its appalling the city council is hitting pause on its cycle lane programme, especially at a time of high fuel prices.”

Part of the Paneke Pōneke cycle network plan, between TSB Arena and the Wellington Railway Station, has been paused entirely amid financial pressure of the Moa Point sewage plant failure.

This morning, protesters made a human cycleway on Featherston Street – roughly where the cycle lane in from the Hutt ends.

“We know there’s around 2 million bikes in sheds and garages around the country. With protected bike lanes, people feel safe enough to use their bikes for everyday trips,” Morgan said.

“We need to build the whole network, especially during this times of high fuel prices, people need more choices of how they get around.”

Teresa Mcguire has been involved in cycle advocacy for 20 years, and she believed the mode of transport should have an even footing with vehicles.

“You don’t have dead end streets that cars go down and then they can’t get to where they wanna go.

“We should give the same respect to people that are on bikes.”

“It just makes sense in a fuel crisis that the thing that you would look at is not building more roads … building a cycle lane doesn’t cost that much money.”

Richard Young, a member of Cycle Wellington, was also frustrated that the lane cut off in the city.

“Its just like building a house but not building the kitchen. Lets get those cycle routes complete.”

Young felt safer in dedicated bike lanes, saying it was easier for pedestrians and drivers as well.

Councillors Geordie Rogers and Rebecca Matthews stood in the human bike lane with signs, along with Green MP Julie Anne Genter.

Rogers believed the cycle infrastructure should be prioritised over the Mount Victoria tunnel expansion project.

“When you think about the $3 billion the government’s investing in a massive tunnel that has a cost ratio benefit of less than one, cycle ways are a much better way to make sure people can get around our city safely and affordably.”

The project has a benefit-cost ratio of 0.7-1.2.

Rogers believed a connected cycle network would bring “massive” amounts of people cycling.

Councillor Matthews was frustrated with budget cuts: “Yes, we do need to make savings, however this has been a programme that has already had significant savings, and if we keep gutting it they’ll be nothing left.”

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

Prime Minister Christopher Luxon will depart for Singapore on Sunday for the inaugural Singapore-New Zealand Leadership Forum and meetings with Singaporean Prime Minister Lawrence Wong and President Tharman Shanmugaratnam.

“Singapore is one of New Zealand’s most important partners in Southeast Asia, and we back each other when it matters, including as global fuel and supply-chain disruptions put pressure on our economies,” Mr Luxon says.

During the visit, Mr Luxon will witness the signing of the Agreement on Trade in Essential Supplies, which will help New Zealand and Singapore keep essential trade flowing in times of crisis and supply-chain disruption.

“With a third of New Zealand’s fuel refined in Singapore, this relationship has a direct bearing on New Zealand’s economic security. Fuel is also part of the regional food-security story – diesel underpins New Zealand’s freight, farming and production systems that keep food moving to Singapore across the region.

“I spoke to Prime Minister Wong a few weeks ago on this matter and look forward to speaking again in person.

“The Forum will bring senior government and business leaders together to deepen trade and investment links, strengthen supply chains, and help both countries build greater resilience in a more uncertain world,” Mr Luxon says.

Mr Luxon will also undertake defence and security engagements in Singapore, returning to New Zealand on 6 May.

Minister of Finance Nicola Willis and Minister for Trade and Investment Todd McClay will accompany the Prime Minister.

MIL OSI

STAKEHOLDER UPDATE APRIL 2026 – NZ Super Fund well positioned in volatile markets.

The NZ Super Fund is well positioned in the current volatile market conditions with investment strategies performing as expected.

As at 31 March, Fund value stood at $86.6 billion and the Fund had returned 11.9 percent over the previous 12 months, slightly ahead of the passive Reference Portfolio benchmark, which had returned 11.01 percent (all returns after cost and before NZ tax).

Co-Chief Investment Officer Brad Dunstan says: “Our inter-generational mandate and our operational independence allow us to implement long-term investment strategies that can take advantage of market volatility. We remain heavily weighted to growth assets; therefore, the value of the Fund will fluctuate in the short term. Our focus remains on maximising long-term returns and managing risk appropriately.”

Senior investment team appointments

We’re delighted to announce three new senior appointments to our investment team.

Current team members Sian Orr and Bryan Bennett have been appointed Director, Private Equity and Director, Real Assets respectively. With some 20 years’ collective experience on the investment team, Orr and Bennett have been involved in some of the Super Fund’s most important investments as portfolio managers and have held numerous governance roles on behalf of the Fund.

Their appointments follow Brendon Jones’s promotion to Head of Real Assets and the return to the Guardians of former staffer Qing Ding in the newly-created role of Head of Portfolio Strategy and Research.

Meanwhile, Chis Parks has been named Director, Sustainable Investment – a role which will include fostering cross-team collaboration to ensure sustainability considerations are fully integrated into all parts of the Guardians’ investment process, and leading the Guardians’ stewardship activities.

Parks has 20 years’ experience across the fund management industry, including at large Australian super fund QSuper, in climate and sustainability research and as an impact investment Principal and portfolio manager.

Recruitment is continuing for a Head of Portfolio Completion and Head of Private Equity.

Judicial Review finding

We are considering our response to a judicial review decision in which the New Zealand High Court found certain parts of our current sustainable investment policy documents do not comply with legislative requirements.

In broad terms, the Court found that the relevant parts of the policy documents did not identify with sufficient clarity the standards and procedures the Guardians applies in order to invest the Super Fund “in a manner consistent with avoiding prejudice to New Zealand’s reputation as a responsible member of the world community ”.

We will update stakeholders once we have thoroughly evaluated the decision and determined how to respond to it.

Fund makes $1.6 billion tax payment to NZ Government

The Super Fund is once again the nation’s largest single taxpayer following a $1.6 billion payment to the NZ Government in the first week of April.

Tax paid by the Fund now exceeds the Government’s required capital contribution to the Fund, a trend that is set to continue over the coming decade.

On Treasury’s current modelling, the Government will continue contributing to the Fund for the next 10 years; however, forecast contributions during that time of just under $2.5 billion are dwarfed by the $20+ billion in tax Treasury expects the Government will receive from the Fund.

Tax paid by the Fund for the 2025 financial year represents approximately 10 percent of the New Zealand’s corporate tax take and 1.4 percent of total tax paid.

Treasury’s modelling of the Fund’s contributions and withdrawals profile will be updated following the NZ Government’s Budget announcement in May.

Other tax news

Meanwhile, the Government has changed provisional tax rules so that from July 2026 the Super Fund will need to make only one provisional tax payment per year, instead of the three payments currently required.

As well as aligning the Fund and its wholly-owned subsidiaries with the approach applied to KiwiSaver funds, this change will reduce compliance costs; allow us to make a more accurate assessment of our provisional tax payments; and reduce the need for us to regularly liquidate investments to meet our NZ tax liabilities.

Thin capitalisation rules will also be changed so that overseas entities looking to invest in qualifying infrastructure projects will receive the same tax treatment as their New Zealand counterparts.

The current regime limits the amount of tax-deductible debt foreign investors can use to finance projects in New Zealand.

The National Business Review quoted Revenue Minister Simon Watts as saying the changes were designed to strike a better balance between protecting the New Zealand tax base and attracting necessary funding for economic growth.

Guardians Head of Tax John Payne told NBR that the changes removed one obstacle to overseas investment, but cautioned several other factors went into determining an investment opportunity’s attractiveness.

Nevertheless, Payne said, the Fund, which often sought co-investment from overseas partners, would be spreading the word that change was coming and New Zealand was “open for business”.

Genesis Energy re-enters portfolio following change to decarbonisation method

The Super Fund will no longer exclude companies with incidental or very low exposure to fossil fuel reserves from its listed equities portfolios, following a review of the methods it uses to meet its carbon targets.

The change means the Fund has now invested in NZX-listed Genesis Energy and can consider investing in climate change transition assets that may previously have been excluded. It also removes some operational complexity.

The Fund’s carbon targets are reviewed every five years, most recently last year. The Fund is currently ahead of target reductions in carbon emissions intensity and in potential emissions from fossil fuel reserves owned by the Fund, and is on track to achieve its goal of net zero by 2050.

Fossil fuel reserves had been subject to a blanket exclusion from the Fund’s listed equities portfolio as a means of meeting overall climate targets, and to reduce exposure to climate change-related investment risk. This blanket exclusion is no longer required to meet these targets, given the Fund’s passive global equity portfolio is now tracking MSCI indices that are aligned with the Paris Agreement and subject to ongoing decarbonisation.

Farewell to GHD House; open for business at the CPO from 11 May

After more than a decade in Zurich/Jarden/GHD House, we’re moving across Te Komititanga Square into our new offices in the Chief Post Office Building, above Waitematā train station, in downtown Auckland.
The new office will be open from 11 May.  We’re looking forward to hosting stakeholders there later in the year, once we’re settled in. Our new physical address is Level 1, 12 Queen Street, Auckland 1010. Our postal address and other contact details will remain the same.

PEI Awards: NZ Super wins Limited Partner of the Year Award

In March the Super Fund was named by Private Equity International (PEI) magazine as its Asia-Pacific Limited Partner of the Year. PEI said the Fund became a “hot property” for General Partners after formally relaunching its buyout programme with a particular focus on the lower mid-market.

“At a time when many LPs are seeking to consolidate their GP relationships with a smaller number of – often larger, more established – managers, NZ Super has likely positioned itself as a top priority for US and European rainmakers in 2026 and beyond.”

The category runner-up was AustralianSuper.

NZ Super Fund at Pacific Islands Investment Forum

The Super Fund sponsored a recent meeting of the Pacific Islands Investment Forum (PIIF) ‘Women in Super’ network in Vanuatu.

Women in Super Steering Committee member and Sustainable Investment Analyst at the Guardians Laumanu Mafi, who was formerly on the investment team at the Retirement Board of Tonga, said the network was focused on capability-building, strengthening female participation in the superannuation industry and improving retirement outcomes for women.

“We value our partnership with PIIF and helping with this event was a great way to contribute to an important network of female investment and pension leaders.”

The Fund has been a member of PIIF, a group of 20 Pacific Island funds, for more than a decade.  Excluding the Fund, PIIF members are responsible for investing around NZ$29 billion, with the largest funds being from Fiji and Papua New Guinea.

NZ Hotel sales progress

Brookfield Asset Management last month received Overseas Investment Office consent to buy the 280-room Rydges Wellington and the 84-room Sofitel Queenstown from NZ Hotel Holdings, which is 80 percent-owned by the NZ Super Fund.
Brookfield had previously announced it would invest approximately $250 million to acquire and reposition the two properties.

This transaction follows the sale last December of the QT in Auckland’s Viaduct for $87.5 million to ASX-listed hotel operator EVT. Four other properties in Christchurch, Rotorua and Auckland remain on the market.

Domestic expansion for Datacom

Datacom, Australasia’s largest home-grown tech company, recently announced it had bought T4’s Auckland data centre.

The Highbrook facility is the second Auckland site for Datacom, which is 45 percent-owned by the NZ Super Fund, and takes the Group’s total number of sovereign data centres across New Zealand to five.

Announcing the transaction, Datacom Chief Executive Greg Davidson said the acquisition reflects the growing importance of sovereign infrastructure as demand for data, AI and secure digital services accelerates.

Read Datacom’s full announcement here: https://nzsuperfund.cmail19.com/t/d-l-gullkn-hujkdust-u/

MIL OSI

Rising geopolitical uncertainty from the war in Iran does not appear to be putting off investment in new local start-ups, although it has had some impact.

The latest Catalist New Zealand Angel Market Report for the first quarter shows around $1.8 million was invested across 34 deals in 23 early-stage companies.

However, the Catalist report says the average individual angel investment fell to $9771, around 16 percent below the trailing 12-month average.

It said that reflected a broad recalibration of risk rather than a lack of support for early-stage businesses.

Angel Association New Zealand chief executive Bridget Unsworth said local investors were still actively engaged despite softer dollar volumes.

“We saw optimism come back last year and while it’s tapered slightly, I do not think we have seen a complete retrenchment or people sitting on piles of capital rather than deploying it at the moment,” she said.

Investment in innovation-led ventures dominated in the quarter, with the Catalist report showing it accounted for 65.6 percent of total investment value, well above long-term averages.

Software investment fell to 21.2 percent.

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

New Zealand and India have today signed a once-in-a-generation Free Trade Agreement (FTA) which will lead to more jobs and higher incomes for Kiwis, Prime Minister Christopher Luxon and Trade and Investment Minister Todd McClay say.
 
Indian Minister for Commerce and Industry Piyush Goyal and Mr McClay signed the Agreement in New Delhi today in front of a large crowd of New Zealand and Indian businesspeople. 
 
“The benefits of this FTA are widespread, and our business community is excited to see the doors of opportunity open to 1.4 billion people whose economy is set to become the third largest in the world,” Mr Luxon says.

“One in four jobs are tied to trade. In signing this FTA we are setting businesses up to succeed, boosting Kiwi jobs and enabling economic growth – and that means more money in Kiwis’ pockets.” 
 
Mr McClay says the FTA supports New Zealand’s ambitious goal of doubling the value of exports in 10 years. 
 
“This deal will deliver thousands of jobs and billions of dollars in additional exports,” he says. 
 
“Creating opportunities for our businesses to diversify and create strong trading relationships provides economic security for New Zealanders – and that is crucial in these times of global unrest.”
 
Today’s signing ensures New Zealand is on track to benefit from a Most Favoured Nation clause for wine and services exports, whereby the better access the European Union has secured for its wine and services will be extended to our exporters if our agreement comes into force first. 
 
“That clause will be worth tens of millions of dollars in extra exports for the New Zealand economy,” Mr Luxon says. 
 
“Two-way trade is currently NZ$3.95 billion. The deal we have struck and the relationship we have built will grow this exponentially and deliver deep and lasting benefits for generations to come.”

Notes to editor:

The historic agreement was concluded in December and eliminates or reduces tariffs on 95 per cent of New Zealand’s exports – among the highest of any Indian FTA. Almost 57 per cent of our exports will be duty-free from day one including lamb, wool, coal, leather, most forestry and industrial products. This will increase to 82 per cent when fully implemented including infant formula, a kiwifruit quota almost four times our current exports and seafood. The remaining 13 per cent including kiwifruit, apples, mānuka honey, wine and some dairy is subject to sharp tariff cuts.

Signing activates the standard parliamentary process, allowing Parliament and the public to scrutinise the agreement through the Select Committee. The FTA text and National lnterest Analysis will be tabled in Parliament tomorrow and referred to the Foreign Affairs, Defence and Trade Committee (FADTC). 

Once FADTC has completed its examination, enabling legislation will be introduced and will follow the usual legislative process. This approach is consistent with that taken for the TPP, CPTPP, and agreements with the United Kingdom, European Union, and United Arab Emirates.

Key outcomes for New Zealand include:   

• Tariff elimination or reduction on 95 per cent of our exports.
• Duty-free access on almost 57 per cent of New Zealand’s exports from day one, increasing to 82 per cent when fully implemented, with the remaining 13 per cent being subject to sharp tariff cuts.
• Immediate tariff elimination on sheep meat, wool, coal and over 95 per cent of forestry and wood exports.
• Duty-free access on most seafood exports, including mussels and salmon, over seven years. 
• Duty-free access on most iron, steel and scrap aluminium, over 10 years or less. 
• Duty-free access for most industrial products, over five to 10 years. 
• 50 per cent tariff cut for large quota of apples – nearly double recent average exports.
• Duty-free access for kiwifruit within a quota almost four times our recent average exports, and tariff halved for exports outside of quota. 
• Duty-free access for cherries, avocados, persimmons and blueberries, over 10 years. 
• Tariffs on wine reduced from 150 per cent to either 25 or 50 per cent (depending on the value of the wine) over 10 years plus a Most Favoured Nation (MFN) commitment. 
• Tariffs on mānuka honey cut from 66 per cent to 16.5 per cent over five years. 
• MFN status and liberalisation across services exports. 
• Duty-free access for dairy and other food ingredients for re-export from day one. 
• Duty-free access for bulk infant formula and other high-value dairy preparations over seven years.
• 50 per cent tariff cut for high value milk albumins within a NZ-specific quota equal to current export volumes.       

MIL OSI

SINGAPORE – Media OutReach Newswire – 27 April 2026 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), is celebrating the seventh anniversary of its loyalty programme, Ascott Star Rewards (ASR), with enhancements that expand how members earn and redeem rewards. Connecting stays, flights, tours and curated experiences on a single platform, ASR has evolved from a hotel loyalty programme into a fully integrated travel rewards ecosystem. Having surpassed eight million members, and with a series of enhancements designed to deliver greater value at every touchpoint of the travel journey, ASR is well-placed to reach its target of 15 million members by 2028.

Ms Tan Bee Leng, Chief Commercial Officer, Ascott, said: “Seven years ago, Ascott Star Rewards set out to reward our guests for their stays. Today, we are rewarding them for how they travel – from the moment they book a flight to the experiences they seek at their destination. Whether they are looking to earn more airline miles, unlock exclusive experience packages, or enjoy complimentary preview stays and free breakfasts, the latest ASR programme enhancements across flights, experiences and events are designed to deepen our relationship with ASR members, giving every one of them more reasons to Stay Rewarded with ASR. In 2025, ASR member revenue rose 23% year-on-year, with members accounting for over 90% of our online direct bookings and more than 60% returning for repeat stays. The trust that our members place in ASR as their travel companion is what drives our ambition to do more.”

ASR Extends Its Rewards to Flights and Airline Miles
Flights are where many journeys begin, and ASR’s rewards now extend there too. In a first for ASR, members can now convert their loyalty points directly into airline miles, making ASR one of the few hotel loyalty programmes globally to offer both earn and convert capabilities from its airline partnerships. In partnership with KrisFlyer, the lifestyle rewards programme of the Singapore Airlines Group, ASR members can now convert their ASR points to KrisFlyer miles at a rate of 20 ASR points to one KrisFlyer mile. A minimum of 5,000 ASR points is required, with conversions of up to 50,000 ASR points per calendar year per membership account. This is in addition to the existing benefit of earning 500 KrisFlyer miles on qualifying direct bookings on DiscoverASR.com and the ASR app.

Come June 2026, ASR will welcome Cathay Pacific, ranked No. 2 in World’s Best Full-Service Airlines by Airlineratings.com, expanding its airline partner network which currently comprises KrisFlyer, ANA and AirAsia. Through this new partnership, ASR members will earn 500 Asia Miles on qualifying direct bookings, while Cathay Silver, Gold and Diamond members will be eligible for an ASR tier match. ASR members currently enjoy double-earning on qualifying stays, accumulating both ASR points and airline miles from a single booking – a benefit not commonly found among hotel loyalty programmes globally.

From June 2026, members can also put their ASR points towards flight credits, with vouchers worth S$50, S$100 or S$200 redeemable across more than 640 airlines through DiscoverASR.com in partnership with Trip.com.

Unlocking Elevated Experiences Beyond the Stay
Beyond flights, ASR is broadening the programme to encompass destination experiences. Members can now book Tours and Experiences through DiscoverASR.com and accumulate ASR points in the process. From May 2026, points can go towards redeeming curated sporting and lifestyle events, Chelsea Football Club matchday experiences, selected ASR Local Signatures events, and tours and attraction tickets.

Recognising Loyalty with More Ways to Stay Rewarded
Every stay with Ascott earns members closer to a free night. ASR members can convert the points accumulated from their stays into complimentary nights across participating properties in 30 countries. For Platinum-tier members, complimentary breakfast is available when they book Ascott properties in Europe and, coming soon, China and Japan.

In addition, Ascott has introduced exclusive preview stays for Platinum-tier and Gold-tier ASR members at newly opened properties, offering privileged and complimentary access during the first month of opening. Piloted at Oakwood Cameron Highlands, which opened in March 2026, the programme is set to encompass a pipeline of upcoming Ascott property openings globally, including lyf Chinatown Singapore and Citadines Elizabeth Street Hobart.

Mr Moustafa Elmalawany, an ASR Platinum-tier member who was among the first guests to experience Oakwood Cameron Highlands, said: “As an ASR member there are already plenty of perks, and being part of the Elite Preview Stay made me feel truly recognised. The arrival experience was smooth and the personalised attention throughout my stay made it very pleasant. Overall, the stay was a fantastic experience. I’m looking forward to coming back here.”

ASR members can also look forward to locally curated in-room welcome gifts, tailored by membership tier, ranging from artisan confectioneries in Europe to seasonal tropical produce in the Middle East and Southeast Asia. Across participating properties in Cambodia, Indonesia, Malaysia, Thailand, the Philippines, Singapore and Vietnam, all ASR members enjoy 20% dining discounts on buffet and à la carte menus.

ASR Extends Its Rewards to Event Planners
As Ascott’s MICE business expands, ASR is extending its rewards to the organisers and corporate bookers behind its growing events business. The refreshed ASR Meeting Planner programme awards two ASR points for every dollar spent on rooms and events, unlocking privileges including membership upgrades, discounts, vouchers and bonus points.

Unlike conventional hotel venues, Ascott’s apartment-style accommodation and flexible event spaces support everything from short corporate offsites to long-stay project teams, product launches and celebrations. For groups seeking a more distinctive dining experience, Ascott partners with curated caterers and specialty chefs to design bespoke menus and immersive formats – from live cooking stations to hyper-local tasting journeys – at properties across its global portfolio.

ASR 7th Anniversary Campaign: Fast Track to Free Nights
To mark its seventh anniversary, ASR is rewarding members with a “Fast Track to Free Nights” campaign. Members who complete a minimum of six qualifying nights across participating ASR properties from April to May 2026, combining multiple bookings where needed, will earn a free night. Each member can earn a maximum of two free nights. The campaign is available across all participating ASR properties worldwide and is valid for bookings made via DiscoverASR.com and the ASR app. Terms and conditions apply.

About Ascott Star Rewards (ASR)
Ascott Star Rewards (ASR) offers members a range of exclusive privileges designed to elevate every aspect of their travel experience. From priority welcome services and access to airport lounges, to enhanced stay benefits such as car rental privileges, bonus ASR points, airline miles and travel vouchers, ASR ensures a seamless, start-to-finish experience. Beyond exceptional stays, ASR members also enjoy access to Ascott Privilege Signatures, which unlocks invitations to prestigious global events, including Premier League football matches, renowned tennis tournaments, and elite gastronomy and lifestyle experiences. To become an ASR member, sign up today at https://www.discoverasr.com/en/sign-up.

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