HONG KONG SAR – Media OutReach Newswire – 28 February 2025 – Driving innovation and technology was a key focus of Hong Kong SAR’s Financial Secretary Paul Chan’s 2025-26 Budget. Identifying Artificial Intelligence (AI) as being at its core, Mr Chan said Hong Kong would leverage its competitive edge under the “one country, two systems” principle to become an international exchange and co-operation hub for the AI industry.
The HKSAR Government will promote Hong Kong as an international exchange and co-operation hub for the AI industry.
“Through frontier research and real-world application, we will endeavour to develop AI as a core industry and empower traditional industries in their upgrading and transformation,” he said.
Financial Support
As the latest effort, the Financial Secretary set aside HK$1 billion for the establishment of the Hong Kong AI Research and Development Institute, to spearhead and support Hong Kong’s innovative R&D as well as industrial application of AI.
In terms of fund-raising for tech enterprises, the Hong Kong Exchanges and Clearing Limited is taking forward the establishment of a dedicated “technology enterprises channel” (TECH) to facilitate the relevant companies in preparing for listing applications, Mr Chan said.
To foster smart manufacturing, the Financial Secretary set aside HK$100 million for the planned launch of the two-year Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+) this year. Under Manufacturing+, the Government would provide funding of up to HK$250,000 each on a one-to-two matching basis to enterprises operating production lines in Hong Kong to support their formulation of smart production strategies and introduction of advanced technologies into existing production lines.
Cultivating new high-tech outcomes to tackle economic challenges is a key focus of Hong Kong’s 2025-26 Budget.
Fostering Frontier Research
Mr Chan said the Hong Kong Space Robotics and Energy Centre, set up under the InnoHK Research Clusters, is aiming to develop a multi‑functional lunar surface operation robot, which will contribute to the country’s Chang’E‑8 mission.
The Government has also started preparatory work for the establishment of the third InnoHK research cluster, which will focus on advanced manufacturing, materials, energy and sustainable development.
International Exchange and Co-operation Hub
To promote international exchange and co-operation on AI, Mr Chan revealed several high-level events to be hosted in Hong Kong.
The Hong Kong Investment Corporation (HKIC) will host the first International Conference on Embodied AI Robot, gathering top‑notch technology enterprises, academic institutions and investors to showcase the latest R&D outcomes and application scenarios.
To bring together top talents in the industry to study the development and application of AI, the HKIC will also host the first International Young Scientist Forum on Artificial Intelligence, promoting research of AI technology and its development as an industry.
Other pro-innovation initiatives
Meanwhile, the interdepartmental Working Group on Developing Low‑altitude Economy, established at the end of last year, is examining the applications for the first batch of Regulatory Sandbox pilot projects, with a view to expanding the scope of low‑altitude flying activities. The Government is also reviewing civil aviation legislation to enhance the regulatory regime in support of long-term development of the low‑altitude economy.
At the same time, with Low Earth Orbit satellites being a new trend in global satellite development, Mr Chan said the Government was exploring a set of streamlined procedures for vetting licence applications for operating Low Earth Orbit satellites.
Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.
The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company’s Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000’s with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit charlesspackman.com and spackman-group.com/charles-spackman.
Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).
Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.
The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.
Production Labels
SEGL owns a 100% equity interest in Studio Take Co., Ltd. (“Studio Take“) which produced STONE SKIPPING (2020) and THE BOX (2021). One of its films, A MAN OF REASON (2023), premiered in the US at the 42nd Hawaii International Film Festival. The film was also invited to the 47th Toronto International Film Festival, the largest film festival in North America, and the 55th Sitges Film Festival, one of the world’s top three genre film festivals. Produced by Studio Take, the Korean adaptation of the Taiwanese hit YOU ARE THE APPLE OF MY EYE premiered at the Korean theatres on 21 February 2025. The romance film remake originally premiered at the 29th Busan International Film Festival in October 2024. Studio Take shall also release an upcoming film, THE GUEST, which is at the post-production stage and scheduled to be released in the second half of 2025 or in 2026.
The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.
Talent Representation
The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd., SBD Entertainment Inc., UAA&CO Inc. and Play Content Co., Ltd. Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit spackmanmediagroup.com.
For more details, please visit spackmanentertainmentgroup.com.
HANOI, VIETNAM – Media OutReach Newswire – 28 February 2025 – The rise of powerful artificial intelligence (AI) like DeepSeek is transforming the world at an unprecedented pace, sparking enthusiasm and deep concerns about its potential risks. On that subject, “AI godfather” Yoshua Bengio – Laureate of the 2024 VinFuture Grand Prize – highlighted the urgent need for national and global efforts to regulate AI and ensure equitable benefits for all.
“AI Godfather” and 2024 VinFuture Grand Prize Laureate Yoshua Bengio (left) warns global superpowers about the risks AI poses to humanity.
Double-edged sword
Since the beginning of 2025, the rise of DeepSeek has been described as a “black swan” moment creating a game-changing shift in an AI landscape almost overnight. It is a wake-up call showing that powerful AI can be achieved without exorbitant costs, challenging the prevailing “money equals progress” model.
Regarding this, Yoshua Bengio, often regarded as “one of the godfathers of modern AI,” warned that its breakthrough in AI affordability could pose serious risks.
“If open-weight AI models, like DeepSeek, are distributed completely, terrorists may exploit them for disinformation campaigns, cyberattacks, or even bioweapon development,” he stated in an interview with VinFuture Foundation. “This is a double-edged sword because while these systems become more available, cheaper, and more powerful, they also lower the barrier to misuse.”
Yoshua Bengio, a pioneer in neural networks and deep learning algorithms, has been recognized with numerous prestigious international awards, including the 2018 A.M. Turing Award, the 2024 VinFuture Grand Prize, and most recently, the 2025 Queen Elizabeth Prize for Engineering. He emphasized that AI is evolving toward greater autonomy, with systems capable of planning and acting in pursuit of a goal. “Today, AI already surpasses humans in certain domains. It can master hundreds of languages and pass PhD-level exams across multiple disciplines“, he explained.
Despite these current limitations in long-term planning abilities, major technology corporations have thrown billions of dollars into developing AI agents capable of autonomous decision-making over extended periods. While this promises efficiency gains, it raises concerns about large-scale job displacement.
Beyond economic shifts, a far more critical issue looms – the loss of human control over AI. In controlled experiments, some AI systems have even engaged in deceptive behavior to prevent being shut down – a troubling sign of self-preservation tendencies.
“This is alarming because we don’t want machines that will compete with us,” he emphasized.
According to Bengio, while they are not yet intelligent enough to pose a major threat, this trajectory is concerning.
“In a few years, they might be sufficiently smarter and we need to start paying attention before it is too late,” Bengio warned.
Coupled with technical risks, AI presents a profound threat to privacy and civil liberties. Recently, a comprehensive International AI Safety report, chaired by Yoshua Bengio and compiled by 96 experts from 30 countries and organizations (including the UN, EU, and OECD) to guide policymakers on AI safety, revealed the growing potential for AI misuse in malicious activities.
Bengio noted that AI’s ability to process vast amounts of data can empower individuals, corporations, or governments with unprecedented control. Given AI’s uncertain future, he shared that the way humans manage AIs in the future will be central to preventing this scenario. “We need to make sure that no single person, no single corporation, and no single government can have total power over super intelligent AI,” he emphasized.
Advances by the Chinese startup DeepSeek could further intensify the AI race among superpowers, raising a worrying development in a field dominated by the Silicon Valley and large Western tech companies in recent years.
“The danger here is that in their race to outpace each other, safety issues might be overlooked. We can be all the victims of this race if we are not careful enough,” Bengio cautioned.
Moreover, the intensifying race is expected to drive profound environmental consequences, particularly in energy consumption. Major AI companies, pushed by the prospect of massive profits, are willing to absorb high energy costs. This surge in demand will inevitably drive-up energy prices across the board, including electricity, oil, and other resources, affecting not just tech firms but households and industries worldwide.
This is where unchecked market forces and national competition could lead to global losses. “That is why government intervention is crucial. Policymakers must negotiate agreements that cap energy consumption at sustainable levels. Otherwise, the forces of competition between companies will only accelerate AI expansion in ways that are not just unsustainable but potentially dangerous,” Bengio urged.
Bridging the AI divide
The godfather of AI has raised urgent calls to establish robust ethical frameworks and regulatory measures to ensure responsible development and deployment.
“Currently, there is essentially no regulatory framework almost anywhere in the countries where these systems are being developed. I think the governments have a responsibility to at least require a kind of reporting to them,” he said.
Responsibility is another key aspect. In many countries, legal principles hold companies accountable for products that cause harm. However, when it comes to software, liability remains a grey area, according to Bengio. “Clarifying liability laws would be a simple but effective step. If companies knew they could face lawsuits for negligence, they would have stronger incentives to manage risks properly,” he asserted.
He also emphasized that it would require a concerted effort from individuals and institutions who recognize the existential risks, like catastrophic malicious use. Elsewhere, concerns over job security and future employment opportunities loom. “The timeline for this shift is uncertain, but we could see radical transformations within five to ten years,” Bengio predicted.
While some jobs will inevitably be replaced by automation, Bengio emphasized that not all professions are equally at risk. “Expanding digital and AI education is essential, but it will not be a universal solution. Not everyone can become an AI engineer,” he noted. Instead, roles that require emotional intelligence and human interaction, including healthcare professionals, therapists, and managers, are more likely to endure. Rather than individual adaptation, Bengio poses a larger question: Can AI deployment be deliberately shaped to minimize disruption?
“Again, this is something that has to be done globally, which is very challenging. We should do it in a way that does not create radical disruptions in the social fabric,” he concluded.
Beyond national regulations, Bengio stressed the need for global coordination. He highlighted eventually, humans should aim for global agreements and treaties, similar to how we handle other scientific and technological risks. As AI rapidly reshapes industries, new divides in wealth, job displacement, or political power could deepen unless proactive measures are taken. Bengio warned that AI is currently concentrated in the hands of a few corporations and nations.
He took Vietnam, a country with a strong industrial sector, as an example. If widespread automation shifts production to AI-powered facilities in wealthier nations like the US, it could lead to significant job losses and economic hardship in countries dependent on manufacturing exports.
Therefore, Bengio suggested establishing global negotiations – a form of exchange in which countries developing advanced AI might ask other countries to refrain from creating potentially dangerous AI. In return, the wealth generated by these AI systems, like new technologies and medical advancements, should be shared globally.
“Of course, we are very far from this, but we need to start those discussions at a global level,” he emphasized.
The first step toward bridging the AI divide is fostering collaboration between emerging economies and technologically advanced nations. Bengio highlighted the importance of initiatives like the VinFuture Prize, which draws global attention to scientific advancements in regions outside the traditional tech powerhouses.
“A big prize like the VinFuture Prize can make leading scientists far more aware of what is happening in Vietnam and other developing countries,” he explained.
Countries such as Vietnam, India, and Brazil already possess strong talent pools and growing expertise in AI. By forming strategic partnerships with resource-rich nations like Canada and European countries, they can develop competitive AI projects on a global scale. Such collaborations, if carefully structured, could ensure a more equitable distribution of technological power, according to Bengio.
Moreover, Bengio stressed the importance of bridging the gap between academia and industry. “By recognizing and supporting breakthrough innovations, VinFuture Prize encourages deeper collaboration between scientists, industry leaders, and policymakers, as well as fosters global dialogue on responsible AI,” he said.
The VinFuture Foundation, established on International Human Solidarity Day on December 20th, 2020, is a non-profit organization co-founded by billionaire Mr. Pham Nhat Vuong and his wife, Mrs. Pham Thu Huong. The Foundation’s core activity is awarding the annual VinFuture Prize, which recognizes transformative scientific and technological innovations capable of making significant positive changes in the lives of millions of people worldwide.
The nomination period for the 2025 VinFuture Prize will close at 2:00 PM on April 17, 2025 (Vietnam time, GMT+7).
The VinFuture Prize consists of four prestigious awards presented each year. The most esteemed is the VinFuture Grand Prize, valued at US$3 million, making it one of the largest annual prizes globally. Additionally, there are three Special Prizes, each valued at US$500,000, specifically dedicated to honoring women innovators, innovators from developing countries, and innovators with outstanding achievements in emerging fields.
The keffiyeh, a widely recognized symbol of Palestinian heritage, has once again been misrepresented as controversial. As an integral part of Palestinian cultural identity, recently recognized by UNESCO, the keffiyeh represents resilience, history, and a deep connection to the land. Attempts to frame it as divisive are part of a broader effort to silence and erase Palestinian identity from public life.
New Zealand prides itself on diversity and inclusivity, values that must extend to all communities. Palestinian cultural expression should be treated with the same respect as any other, without fear or scrutiny. The keffiyeh is not a political threat – it is a symbol of history, survival, and belonging.
We call on media outlets, public institutions, and community leaders to reject narratives that delegitimize Palestinian identity and instead foster an environment where all cultures are celebrated and respected.
HONG KONG SAR – Media OutReach Newswire – 28 February 2025 – Renaissance College (RCHK) is thrilled to announce that its Learning Technology hub, the Red Door Centre (RDC), and the Library have been recognised for excellence at the prestigious Greater Bay Area (GBA) School Awards. The school received the Judges’ Choice Award in the “EdTech Program K-12” category and was named a finalist in both the “EdTech Program – Primary” and “School Library” categories.
The Judges’ Choice Award in the “EdTech Program K-12” category recognises RCHK’s innovative approach to modern STEM education. The RDC helps the school to integrate advanced technological programmes that empower students to explore, experiment, and bring their ideas to life. Through hands-on experiences with robotics, filmmaking, maker-centred learning, and visual content creation using green screen technology, students learn to apply their knowledge in practical and engaging ways. This approach fosters critical thinking, creativity, and collaboration—essential skills for success in the 21st century.
RCHK’s commitment to fostering a love of reading and creative thinking was also recognised with its Library’s finalist status in the “School Library” category. The library serves as a dynamic learning space, offering a rich collection of resources and supporting students in their academic pursuits and personal growth.
“We are incredibly proud of this achievement,” said Mr. Stu Lowe, Vice Principal (Learning Technologies) at Renaissance College. “These awards showcase the amazing work of the Learning Technology and Library Teams. Renaissance College embraces the use of technology to enhance teaching and learning across the entire school. Seeing that recognised in these awards is a tremendous honour and a reflection of our commitment to innovation.”
The following individuals were instrumental in this success:
Ms. Ness Matthews, Primary Learning Technology Coach Mr. Sze Lok Kai, Learning Technology Educational Assistant Mr. Stu Lowe, Vice Principal (Learning Technologies) Mr. James Sandford, Secondary Learning Technology Coach Mr. Jœrgen Mortsensen, Media Literacy & Authentic Technology Integration Coach Ms. Kim Wells, Library Coordinator Ms. Melissa Cooper, Library Teacher Ms. Shirley Chan, Librarian (Teaching)
The issuer is solely responsible for the content of this announcement.
About ESF Renaissance College Hong Kong
Renaissance College Hong Kong (RCHK), a student-centred independent school founded by the English Schools Foundation (ESF) in 2006, serves the local and expatriate communities. Offering all four International Baccalaureate (IB) programmes (PYP, MYP, DP, CP), RCHK provides a through-train education for students aged 5-18. With over 2,000 students representing 40+ nationalities, RCHK celebrates its diverse community, where English is the language of instruction. Students benefit from rich Education Outside of the Classroom (EOTC) and Creative, Action, Service (CAS) programmes, fostering real-world learning and community engagement. RCHK’s Red Door Centre, a state-of-the-art technology hub, provides 1:1 devices (iPads Years 1-3, MacBooks Years 4-13), robotics equipment, and modern fabrication facilities, integrating technology across the curriculum. Wellbeing is paramount at RCHK, with strategies in place to ensure every child feels known and supported. The College also offers scholarships for driven and ambitious secondary students, and financial aid (Youth Empowerment Scheme) to promote inclusivity.
BANGKOK, THAILAND – Media OutReach Newswire – 28 February 2025 – The Creative Economy Agency (Public Organization), or CEA, has revealed that Thailand’s music and content industries continue to experience sustained growth, aligning with the global expansion of the sector. To ensure that Thai artists and content creators can achieve lasting success on the international stage, CEA is set to launch two major flagship projects in 2025, building on their remarkable achievements of 2024. The ‘Music Exchange’ project aims to propel Thai artists onto global festival stages while attracting international event organizers and promoters to Thailand, creating invaluable opportunities for local musicians and businesses. Meanwhile, the ‘Content Lab’ initiative serves as a platform for Thai content creators to connect with investors both domestically and internationally, paving the way for commercial production. Additionally, it will focus on upskilling professionals in film, series, and animation, ensuring their expertise meets global standards and aligns with key target markets. These initiatives are expected to drive employment opportunities and contribute significantly to Thailand’s economic growth, further strengthening the country’s position in the international creative industry.
CEA Drives Thailand’s Creative Industry Forward: Expanding Thai Music and Content into Asian and European Markets
Dr. Chakrit Pichyangkul, Executive Director of the Creative Economy Agency, stated, “The creative content and media industries—encompassing music, film, series, and animation—continue to thrive globally, particularly in the digital streaming era, which have made access to entertainment more seamless than ever. Additionally, the full-scale revival of concerts, music festivals, and cinemas in the post-COVID era has further accelerated this growth. For Thailand, these industries are expanding in line with global trends. Currently, the music business in Thailand is valued at 3-5 billion baht, while the film, series, and animation industries are worth approximately 18 billion baht. This sector has been attracting growing interest from both audiences and investors, domestically and internationally. A testament to this momentum is the recent success of Thai films and series, which have not only generated impressive revenues but have also secured screenings at international film festivals. A standout achievement is the critically acclaimed film How to Make Millions Before Grandma Dies, known locally as Lahn Mah, which was recently selected as one of 15 films shortlisted to determine the five final nominees for the Best International Feature Film category at the Academy Awards 2024. This recognition reinforces the immense potential of Thai creators in these industries and their ability to compete on the world stage.”
A crucial factor in propelling Thailand’s music and content industries towards global success lies in financial investment and sustained government support. This backing enables artists and content creators to produce high-quality work and consistently showcase their talent on the international stage. Countries that prioritize the development of their creative industries, such as South Korea, Japan, the United States, and the United Kingdom, have established dedicated agencies to support music businesses, screenwriters, and content creators. These agencies not only drive employment and attract foreign investment but also contribute significantly to measurable economic growth. Inspired by these successful models and recognizing the immense potential of Thailand’s music and content industries, the Creative Economy Agency (Public Organization), or CEA, has implemented the ‘Flagship Industries Project’ strategy within the Creative Content & Music sector. This initiative focuses on film, series, animation, and music, serving as a key economic driver that will generate substantial revenue for Thailand while solidifying the nation’s presence in the global creative economy.
CEA continues to propel Thailand’s music industry forward and strengthen the Thai Music Wave through the Music Exchange project, which is built on two core activities:
● PUSH – Supporting Thai artists in securing performance slots at international music festivals, helping them expand their fan base and introduce their music to global markets. Notable participating artists include 4EVE, Alec Orachi, WIM, and Polycat.
● PULL – Inviting international music festival organizers and business stakeholders to witness live performances by Thai artists while facilitating business matching sessions to foster networking and commercial opportunities.
This project is driven by the strategic development plan for Thailand’s creative music industry, with a focus on increasing economic value and propelling the industry onto the global stage. Beyond international exposure, CEA is committed to elevating the creative capabilities of Thai musicians, ensuring they remain competitive in the global arena (Strategy: Building Global Standard).
Additionally, the initiative emphasizes music intellectual property protection (Strategy: Promoting Music IP) and aims to strengthen the music business ecosystem (Strategy: Strengthening Music Business Ecosystem), fostering diversity and long-term industry sustainability. Over the past year, Music Exchange has successfully showcased Thai artists in key markets such as Japan, China, and South Korea, forging connections with major global businesses. Throughout 2024, the project has supported over 70 performances by Thai artists, attracting 78 music festival organizers and industry professionals from Asia-Pacific, Southeast Asia, Europe, and the United States. These efforts have facilitated more than 300 business opportunities, boosting international visibility for Thai artists and reaching a global audience with 35 million views.
In its mission to strengthen Thailand’s film, series, and animation industries, CEA has spearheaded the Content Lab initiative, designed to nurture and elevate Thai content creators from emerging talents to industry professionals. Through incubation programs, the initiative provides structured training courses tailored to both fundamental and advanced skills, ensuring that participants gain expertise relevant to the evolving demands of the content industry. Additionally, selected projects receive funding to develop their ideas into pilot projects, which can then be pitched to film studios and potential investors. A key highlight of the initiative is the launch of Thailand’s first-ever ‘Content Project Market’—a dedicated marketplace where participants from incubation Programs, as well as independent content creators, can showcase their projects to investors, paving the way for commercial production. In 2024 alone, Content Lab successfully upskilled over 288 participants, empowering them with essential content creation expertise. Moreover, one of the projects that received funding for pilot project development from Content Lab 2023, the film ‘Happy Monday(s)’ or Sawasdee Wan Jan(s) [สวัสดีวันจันทร์(ส)], has successfully transitioned into full-scale production. Produced by Neramitnung Film, the film was released in theaters on 20 February 2024.
Through these strategic initiatives, CEA continues to drive the Thai content industry forward, ensuring its creators are equipped with the tools, opportunities, and global exposure needed to thrive in international markets. Recognizing the immense potential and global growth opportunities for Thailand’s content and creative media industries, CEA is committed to continuing its support for both the Music Exchange and Content Lab initiatives in the coming year. For 2025, the Music Exchange project, led by the Subcommittee on Music Industry Development and CEA, will further drive Thailand’s soft power strategy in the music sector by promoting Thai artists on the international stage. The initiative aims to support over 100 artists and bands, enabling them to perform at world-renowned music festivals while also facilitating business-matching opportunities and global networking. The project will focus on connecting Thai record labels with international festival organizers in key markets across Asia and Europe, further strengthening the Thai Music Wave as a recognized global phenomenon. Meanwhile, the Content Lab program will refine its incubation curriculum to align with the evolving media consumption habits of modern audiences. The program aims to train and develop at least 170 mid-career professionals, equipping them with the skills needed to compete on the global stage. This effort is not only about nurturing talent but also about laying the foundation for a sustainable content industry ecosystem, ensuring that Thai creators can continuously innovate, produce, and generate long-term revenue. These initiatives are pivotal in preparing Thai artists and content creators for international competition, while also reinforcing a thriving creative ecosystem that fosters sustainable industry growth,” Dr. Chakrit concluded.
The Content Lab 2025 initiative is now entering its third consecutive year, continuing its mission to develop film and series projects by participants in Thailand’s film and series industries. Some of its incubation programs are already set to open for applications, providing opportunities for aspiring and mid-career creators to enhance their skills and take their developing projects to the next level. Meanwhile, this year marks the second year of the Music Exchange project, which is in its final stages of preparation, with details expected to be announced soon. Those interested in participating or following updates on these projects can stay informed via the CEA’s website: www.cea.or.th and the CEA’s official Facebook page.
Hashtag: #CEA
The issuer is solely responsible for the content of this announcement.
SINGAPORE – Media OutReach Newswire – 28 February 2025 – The Institute of Singapore Chartered Accountants (ISCA) has officially launched its first Professional Services Centre in Johor Bahru (JB), which is strategically located within the Johor-Singapore Special Economic Zone (JS-SEZ). As part of plans to expand its regional footprint, ISCA hopes to tap on the potential growth opportunities within the JS-SEZ, and to contribute to the growing economic ties between Singapore and Malaysia.
ISCA’s Professional Services (PS) Centre in Johor Bahru is the first of 10 such centres that ISCA will be launching across major cities around the world by June 2025, to support the growth of businesses in their respective countries. These centres mark a new joint partnership between ISCA and the following organisations, which are part of ISCA’s Professional Accountancy Hub:
Association of Small & Medium Enterprises (ASME)
Institute of Valuers and Appraisers, Singapore (IVAS)
Law Society of Singapore
Singapore Manufacturing Foundation (SMF)
Tax Academy of Singapore
ISCA’s PS Centre in Johor Bahru will serve as a conduit to promote the expansion and availability of professional services such as accounting, sustainability, legal, business valuation, taxation and other corporate services, to meet the needs of Singaporean businesses seeking to expand in Malaysia and vice versa. In addition, it will help to foster cross-border partnerships, and drive the development of accountancy talent in both countries. This is done in anticipation of the future growth of businesses in the JS-SEZ, as more entities tap on the collective resources and collaborative environment within the Zone to expand operations. ISCA expects a considerable increase in demand for professional services and accountancy firms to meet these needs and navigate evolving regulations from a growing pool of clients, particularly in areas such as corporate set-up, cross-border taxation, business expansion advisory, sustainability standards and adoption of technologies.
Recognising the growing need for professional services, the Malaysian government recently announced a target to train 60,000 professional accountants by 2030. The JS-SEZ will create even more demand for professional accountants. In alignment with this vision, ISCA will be forming partnerships with local universities based in Malaysia (Sunway TES College, University of Reading Malaysia, and the University of Southampton Malaysia) to create dedicated pathways for their students to pursue the Singapore Chartered Accountant Qualification (SCAQ), though provisions of resources, learning support as well as scholarships.
“ISCA is committed to supporting the growth of the Johor-Singapore Special Economic Zone,” said Mr Teo Ser Luck, President of ISCA. “Our Professional Services Centre in Johor Bahru and our partnerships with universities in Malaysia aim to ensure that businesses across both countries prosper, and that a steady supply of skilled accountants will be available to support the Zone’s development. We also look forward to facilitating regional interaction between Malaysian and Singaporean professional services firms, fostering knowledge sharing and mutually beneficial relationships.”
“By leveraging Singapore’s expertise in family offices and sustainability, ISCA’s new business centre in Johor Bahru will provide their members and Malaysian SMPs with the tools and knowledge they need to adapt and excel in an increasingly interconnected world. Together, the joint expertise and resources of the accounting fraternity from both countries will surely be an important support to the development of the JS-SEZ,” said Mr Wong Wen Tak, CEO of Grant Thornton Malaysia – Johor Office.
For more information on the quotes from ISCA Professional Services Centre Partner Organisations, please refer to the Annex via our website.
Hashtag: #ISCA
The issuer is solely responsible for the content of this announcement.
HANOI, VIETNAM – Media OutReach Newswire – 28 February 2025 – VinFast and Motech Automotive Service Centers, through itsfranchisor and operatorin the Philippines, officially signed a Memorandum of Understanding (MOU) on expanding the service network for VinFast electric vehicles in the market. The agreement aims to meet the increasing demand for electric vehicles among Filipino consumers, while affirming VinFast’s long-term commitment and determination to promote green transformation across the region.
VinFast Philippines Director of After-Sales Service, Margarita Olivia Cuena Delfinado (left) and Motech Automotive Philippines President and CEO, Johann Rommel Naguiat at the MOU signing ceremony.
Under the MOU, VinFast and Motech will actively work together toward the goal of accrediting 63 Motech service workshops as authorized VinFast service centers. These service centers will be authorized to perform repairs, warranties, and maintenance for VinFast electric vehicles in the Philippines.
As part of its commitment to enhancing customer experience, VinFast plans to establish more than 100 similar service workshops across the Philippines this year, and its recent agreement with Motech is part of the Vietnamese electric vehicle maker’s plan to expand its partner network in the Philippines.
Motech’s service workshops will meet VinFast’s standards for facilities, equipment, and personnel, with a priority on providing genuine services and parts to VinFast owners.
To facilitate the rapid expansion of Motech’s authorized VinFast service workshop system, VinFast will provide personnel training and technical advice. This support is especially important given the expected volume growth of VinFast electric vehicles in the Philippines.
Motech currently operates a chain of auto service centers with a variety of models and scales, encompassing hundreds of facilities throughout the Philippines, including locations from the tip of the Philippine archipelago in Tuguegarao, to the main cities of Metro Manila, and down south to the island of Mindanao.
Furthermore, the two parties will actively explore business cooperation opportunities, information sharing, and joint marketing activities related to electric vehicle after-sales services in Southeast Asia.
Johann Rommel Naguiat, President and CEO of MotechAutomotive Philippinesshared:“Motech is thrilled to partner with VinFast as an authorized service provider for their electric vehicles in the Philippines. Confident in VinFast’s potential within Southeast Asian market, Motech looks forward to this collaboration to support the growing EV market and to continue to deliver exceptional customer experience. Further, this partnership between VinFast and Motech, a first of its kind in the Philippines, helps the Philippine market embrace the change to greener mobility, by answering the issue of not only range anxiety, but that of the issue of service anxiety as well. With Motech’s network of stores and the reputation it has built in its communities, VinFast customers can drive with confidence, that their VinFast vehicle will be well cared for, anywhere at anytime.“
Mr. Pham Sanh Chau, CEO of VinFast Asia, said:“Leveraging Motech’s strong reputation, experience, and extensive service network, we aim to provide Filipino customers with peace of mind and satisfaction, aligning with VinFast’s core principles of highquality vehicles, inclusive pricing, and outstanding after-sales policy. We are confident this partnership will simplify EV ownership and usage, empowering customers to join the global movement towards green transportation.“
Since officially entering the Philippine market in 2024, alongside launching its green and smart car models, VinFast has strongly affirmed its long-term commitment through attractive sales policies and a continuously expanding after-sales network.
By partnering with leading, reputable after-sales service providers, VinFast has not only optimized its Philippine operations but also strengthened its brand recognition, demonstrating its “Customer-centric” philosophy throughout its global expansion.
In Southeast Asia, VinFast is actively pursuing its “For a Green Future” vision by developing a comprehensive and inclusive electric vehicle ecosystem, focusing on expanding the network of charging stations through collaborative efforts. This vision has achieved significant success in Vietnam and is expected to continue growing in other potential markets./.
https://vinfastauto.id/en
Hashtag: #vinfast
The issuer is solely responsible for the content of this announcement.
HONG KONG SAR – Media OutReach Newswire – 28 February 2025 – KPMG welcomes the Hong Kong Government’s Budget, recognising it as a well-considered strategy that balances the needs of society with economic development goals. The Budget focuses on key areas such as Artificial Intelligence (AI), infrastructure investment, and innovative industries, creating new opportunities for high-quality economic growth in Hong Kong while further strengthening its international competitiveness.
The Hong Kong SAR Government has revised its 2024/25 Budget, projecting a consolidated deficit of HKD 87.2 billion. By the end of March 2025, Hong Kong’s fiscal reserves are expected to reach HKD 647.3 billion, closely aligning with KPMG’s estimates of HKD 89.7 billion deficit and HKD 645 billion in reserves, indicating that fiscal reserves remain relatively robust. The projected GDP growth rate for 2025/26 has been adjusted to between 2% and 3%, down from the previous year’s forecast of 3.2%. KPMG attributes this revision to ongoing geopolitical uncertainties and a slower-than-expected decline in interest rates. To address these challenges, KPMG recommends that the government allocate more resources to high-growth sectors such as asset management and innovation, aiming to stimulate economic growth in Hong Kong and deliver benefits to the general public.
John Timpany, Head of Tax in Hong Kong, KPMG China, says: “In the Budget, the HKSAR Government has clearly positioned AI as the core driver for cultivating new quality productive forces, and is promoting its development through a series of policy measures, fully demonstrating Hong Kong’s ambition as an international innovation and technology hub. We are pleased to see the Government leveraging the advantages of ‘One Country, Two Systems’ to actively establish Hong Kong as an international exchange hub for the AI industry, and strengthening the integration of scientific research and industrial applications through projects such as Cyberport’s AI Supercomputing Centre, Hong Kong Microelectronics Research and Development Institute, and the soon-to-be-established Hong Kong Artificial Intelligence Research and Development Institute. This not only creates opportunities for local technology companies but also injects new momentum into the transformation and upgrading of traditional industries, narrowing the gap with other leading jurisdictions.”
Stanley Ho, Tax Partner, KPMG China, says: “To ensure the strategic infrastructure projects stay on schedule, KPMG believes that raising capital by issuing government bonds at a moderate pace is a wise move. We support the government’s commitment to using bond proceeds exclusively for infrastructure investments, ensuring they are not directed towards recurring government expenditures. This disciplined approach, outlined in the new bond program, should keep the government debt-to-GDP ratio at a manageable level and protect Hong Kong’s credit rating. We encourage the government to proactively explore ways to make infrastructure projects more cost-effective. Embracing technological innovations and encouraging public-private partnerships are two promising avenues for expense optimisation.”
Alice Leung, Tax Partner, KPMG China, says: “We welcome the Financial Secretary’s proposal to expand the classes of investments permitted under the family office tax regime. To make Hong Kong even more attractive to family offices, it makes sense to include digital assets and art as eligible investments. These are already common asset classes for family offices, so adding them to the regime could encourage more family offices to set up in Hong Kong. This would be a win-win, creating jobs and boosting demand across a range of professional services. Additionally, it is encouraging to see the government actively pursuing tax treaties with 17 jurisdictions – this is a significant step in supporting Hong Kong taxpayers investing overseas. We also applaud the government’s initiative to attract more commodity trading activity to Hong Kong through a competitive 8.25% tax rate. These measures will inject vitality into the local market, enhance liquidity, and further solidify Hong Kong’s role as an international financial centre.”
Chi Sum Li, Head of Government & Public Sector in Hong Kong SAR, KPMG China, said: “We support the government’s prioritisation of investment in developing the Northern Metropolis. The focus on key industries such as innovation and technology, high-end professional services, modern logistics, tertiary education, cultural, sports, and tourism in the area demonstrates a commitment to a diversified development blueprint. Meanwhile, the accelerated progress of projects like Kwu Tung North / Fanling North, along with the implementation of transport infrastructure including the Northern Link and Hong Kong-Shenzhen Western Railway, will enhance connectivity in the region and lay a solid foundation for commercial and innovation technology development. We believe the development of the Northern Metropolis will inject new vitality into Hong Kong’s economy and create better living and career prospects for citizens.”
In terms of nurturing and attracting talent, KPMG welcomes the government’s proposal to enhance the “New Capital Investment Entrant Scheme”. It is encouraging to know the scheme has already received over 880 applications with an expected HKD 26 billion in investments. We suggest lowering the residential property price threshold from HKD50 million to HKD 30 million. This would open up the scheme to a broader range of talents looking to invest in Hong Kong real estate and we don’t anticipate this change having a major impact on housing affordability for the general public. Additionally, the government can consider shortening the current seven-year waiting period for permanent residency applicants, to make the scheme even more attractive.
Amid fiscal constraints, the government has taken measures to control expenditure growth. For 2026/27 and 2027/28, the Financial Secretary announced a 2% annual reduction in the civil service, with an estimated reduction of approximately 10,000 positions by April 1, 2027. Additionally, a salary freeze for all personnel across the executive, legislative, judicial branches, and district councils has been proposed for 2025/26. KPMG believes that job cuts and the salary freeze are signals to the public that the government is closely monitoring its spending, as taxpayers would expect during a period of fiscal deficits. This demonstrates the Hong Kong government’s commitment to prudent management of public finances.
In light of the fiscal deficit and the aging population, KPMG supports the government’s proposed optimisation of the “HKD 2 Public Transport Fare Concession Scheme.” The proposal maintains eligibility for individuals aged 60 and above but introduces a monthly cap of 240 trips. Additionally, for fares of HKD 10 or more, the subsidy will be adjusted to a 20% discount of the full fare. These measures aim to balance the travel needs of the elderly and the silver economy with smarter use of public funds. At the same time, this will enable the government to more accurately forecast related expenditures in the future.
Hashtag: #KPMG
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Three people have been injured in an incident on Kutukutu Street in Takanini this evening.
Police were called to the street at 7.50pm, after what appears to be an altercation involving neighbours.
The three victims have been transported to hospital with serious injuries.
The person believed to be responsible left the scene in a car and was located by the Police Eagle helicopter on Takanini School Road a short time later.
He has been taken into police custody.
Cordons are in place on Kutukutu Street and residents are asked to follow the instructions of police staff in the area.
