Of these, 72.99 million shares were submitted under the cash exit option, while 23.3 million shares opted for the in-specie option, which provides a corresponding basket of assets.

The tender price is set at a 2.5 per cent discount to the adjusted net asset value (NAV) per share as of July 8. The final price is scheduled for announcement today, July 9, with cash payments and in-specie distributions expected by July 13.

To finance this substantial repurchase, VEIL will need approximately $155.6 million, given the $11.62 NAV per share on July 8. As of late May 2026, its cash reserves had declined to 2.8 per cent, equating to roughly $45 million.

While the fund maintains an available credit facility of $200 million, with current borrowings at $50.3 million, it is highly likely that some portfolio restructuring will be required.

This tender offer is just the initial phase of VEIL’s broader buyback plan announced in late 2025, with two additional tranches planned over the next 12 months, potentially returning up to 30 per cent of charter capital to shareholders.

This raises the prospect of short-term price pressure on major blue-chip companies. By the end of May, the top 10 holdings of the fund consisted entirely of industry leaders, including VIC, VHM, BID, MWG, VCB, VPB, CTG, HPG, TCB, and ACB.

These equities collectively accounted for more than 54 per cent of VEIL’s total assets under management.

The move comes against a backdrop of intense liquidity pressure across the wider equity market. According to SSI Research, net foreign outflow has reached an estimated $3.21 billion in the first half of 2026.

SSI analysts largely attributed the persistent net foreign selling pressure to a stronger US dollar and interest rates remaining higher for longer, which has prompted global asset managers to restructure their international portfolios.

In response to these sustained outflows and broader market corrections, domestic asset managers are becoming increasingly defensive.

Cash holdings increased across 19 of the 37 Vietnam’s open-ended equity funds monitored in May, reversing a previous trend of gradual disbursement as caution takes hold.

In contrast to the broader segment, closed-end funds have demonstrated notable resilience, seeing their outflows narrow for the fourth consecutive month.

Notably, VEIL itself reported a 55.1 per cent on-month drop in net outflows to $6.08 million in May, preceding its larger restructuring programme and tender offer tranches.

The VEIL fund focuses on securing medium to long-term capital growth by targeting industry leaders with robust growth metrics, strong corporate governance, and clear competitive advantages aligned with Vietnam’s economic drivers.

Leveraging its closed-end fixed capital structure, the fund actively pursues large private transactions and initial public offerings, alongside a minor allocation to high-growth stocks.

Trump's trade policies could shape Vietnam's economic outlook: Dragon Capital US policies under a Trump administration could significantly shape Vietnam's economic outlook, involving trade, investment, and market dynamics amid strong bilateral relations.

Key factors to watch in the stock market in early 2026 A rebound in manufacturing, stronger domestic demand, record tourism and steady investment flows are laying a solid foundation for earnings momentum and improved market sentiment.

Domestic fundamentals hold firm as markets reprice global risk Domestic fundamentals remain solid as markets reassess global risk, with Middle East tensions causing volatility.

The NDC-TIA 2 project will be implemented within three years from 2026 to 2028 by the German Development Agency (GIZ) in cooperation with the International Council on Clean Transportation, with support from the World Resources Institute.

It supports capacity building and technical assistance for the transport sector to strengthen the enabling conditions for implementing a low-carbon transport policy framework, including the development of electric and green-energy vehicles, thereby contributing to the implementation of Vietnam's ND).

The project is structured around three core components, including providing technical support for research to develop regulations and technical standards for electric vehicles, and conducting experience-sharing and policy dialogues to boost the electrification of commercial vehicles. Besides that, it will contribute to accelerating the deployment of electric commercial vehicles in urban areas.

Expected outcomes include technical reports on developing regulations and technical standards for electric trucks; assessments of urban charging infrastructure needs; the integration of electric vehicle fleets and green energy use within public transport systems at transit hubs and urban rail systems; and the development of financing mechanisms and solutions to encourage the transition to electric vehicles and the development of urban electric vehicle ecosystems.

Ngo Anh Tuan, director of ACST, said, "Vietnam has made a strong commitment to the goal of achieving net-zero emissions by 2050. To concretise this strategic vision in the transport sector, the Prime Minister issued Decision No. 876/QD-TTg, approving the Action Programme on green energy transition and reduction of carbon and methane emissions in the transport sector.”

Decision No.876/QD-TTg not only defines a comprehensive transition roadmap but also sets out critical requirements for improving institutions; developing systems of technical standards and regulations; boosting the transition to electric and green-energy vehicles; developing synchronous charging infrastructure; as well as boosting financial resource mobilisation and strengthening international cooperation.

The NDC-TIA 2 project was developed with the goal of accompanying Vietnam in that process. The project is expected to contribute to the implementation of Decision 876, helping to realise the goals of sustainable green transport development.”

Alexandra Westwood, attaché of the Section Economic Affairs and Development of the German Embassy in Vietnam, said, "The continuation of NDC-TIA is a testament to the trusted and sustainable partnership between the Federal Republic of Germany and Vietnam. We hope that this project will bring practical benefits to the people of the country and also serve as a solid foundation for more extensive cooperation between our two nations in the future."

“The project’s key target is to enhance the capacity, provide technical support for the transport sector and improve the conditions during the process to implement the transport sector’s low-emission transformation. Furthermore, in the context of the trend of converting to electric private vehicles, the project will also focus on supporting the green transformation for the commercial road transport systems across both national and urban transport networks.”

Vietnam steps up green transformation with strong policies and rising investment demand Vietnam now has both the policy framework and strategic directions to accelerate sustainable development and accelerate the green energy transition, yet the scale of financing required will challenge both the public and private sectors.

How to unlock ESG value through green innovation Environmental, social, and governance criteria are emerging as essential tools for enterprises to mitigate risk and maintain sustainable operations. Nguyen Thi Lan Huong, CEO of SIB Network and founder of ESGTech Platform, examines the most popular theories to integrate green transformation into the core business models of enterprises.

UNIDO backs Vietnam's push for greener cement manufacturing A project to develop financing solutions for decarbonising Vietnam's cement industry has entered its detailed preparatory phase.

Digital green transformation drives sustainable growth Digital transformation is no longer merely a technological trend but a critical enabler for achieving green growth, helping optimise resource management, save energy, reduce costs, and improve efficiency.

Japan extends ¥50 billion loan for green transformation programme The Japan International Cooperation Agency (JICA) on March 30 signed a ¥50 billion loan agreement with Vietnam to provide official development assistance for its green transformation programme and climate change adaptation.

The event comes as Vietnam's industrial sector maintained solid momentum during the first half of the year despite external uncertainties. The Index of Industrial Production rose 10.8 per cent on-year, while manufacturing and processing expanded by 11.4 per cent, reaffirming its position as the country's principal growth engine.

However, widening disparities in industrial development among localities, together with growing demands for energy security, infrastructure upgrades, high-quality foreign investment and green transformation, are creating new challenges for Vietnam's industrial park system.

The event aimed to identify new growth drivers for Vietnam's IPs, ranging from integrated planning and infrastructure, reliable energy supply and logistics to digital transformation, green standards and the capacity to meet the evolving requirements of global supply chains. More than a platform for policy dialogue and the exchange of practical experience, the forum also served as a venue to foster cooperation, enhance the quality of investment attraction and support the country's industrial growth objectives in the years ahead.

Speaking at the forum, Nguyen Duc Hien, Deputy Head of the Central Committee for Policy and Strategy, stressed that Vietnam's IPs should move beyond their traditional role as production zones and infrastructure providers.

"Instead, IPs must become modern industrial ecosystems that bring together innovation, AI-enabled digital technologies and a highly skilled workforce. They should also serve as the foundation for forming innovation-driven industrial clusters that enhance productivity, competitiveness and the resilience of the economy, thereby contributing directly to Vietnam's next-generation industrial growth objectives," he said.

Nguyen Duc Hien, Deputy Head of the Central Committee for Policy and Strategy. Photo: IEC Group

Hien also revealed that the Central Policy and Strategy Commission was working with agencies to finalise the proposal entitled "Renewing the National Development Model Based on Science, Technology, Innovation and Digital Transformation."

"The proposal's core philosophy is to fundamentally shift from a growth model driven primarily by capital, natural resources and low-cost labour to one powered by sci-tech, innovation, data, highly skilled human resources and national self-reliance. Under this vision, next-generation IPs will no longer be merely production spaces, but platforms that integrate technology, innovation and strategic industries, creating new growth engines for the country," he added.

International partners shared a similar view, emphasising that sustainability and innovation will be key to the next phase of Vietnam's industrial development. Sibylle Bachmann, Chargé d'Affaires of the Embassy of Switzerland in Vietnam, noted that Vietnam had set two ambitious and mutually reinforcing national goals: becoming a high-income economy by 2045 and achieving net-zero emissions by 2050. These objectives, she said, require the country not only to industrialise, but to do so sustainably.

"The IPs of tomorrow can no longer simply provide land and infrastructure. They must become platforms for innovation, resource efficiency, low-carbon growth and industrial collaboration," she said. "Innovation does not happen in isolation. It requires ecosystems where businesses, researchers, infrastructure providers and public institutions work together. Modern industrial parks can provide exactly such ecosystems."

Bachmann stressed that this transformation was not only an environmental imperative, but also an economic necessity.

"Around the world, investors are increasingly choosing locations based not only on costs and logistics, but also on renewable energy, carbon performance, circular economy solutions and ESG standards. Industrial parks therefore play a decisive role in attracting the next generation of high-quality investment," she said.

"This direction is reflected both in international assessments and in Vietnam's own strategic vision. Recent policy reforms and Politburo Resolution 10 the development of the foreign-invested economy underline an important shift: from attracting more FDI to attracting better investment that brings technology, innovation, skilled jobs and supports Vietnam's green transition."

Sibylle Bachmann, Chargé d'Affaires a.i. of the Embassy of Switzerland in Vietnam. Photo: IEC Group

At the event, Bachmann also revealed that Switzerland and the United Nations Industrial Development Organisation are jointly developing the proposed Global Energy District Programme in Vietnam (GEDP Vietnam). The initiative aims to encourage energy districts powered by renewable energy, capable of providing efficient cooling, heating, electricity and other energy services for clusters of buildings, urban areas and IPs.

"This initiative is highly complementary to the Eco-Industrial Park Programme. While eco-industrial parks strengthen resource efficiency, circularity and industrial symbiosis at park level, GEDP can help provide the integrated, low-carbon energy infrastructure needed to make these parks cleaner, smarter and more competitive," she said.

"The next decade presents a unique opportunity for Vietnam to develop a new generation of smart, resource-efficient and climate-resilient IPs. Switzerland remains committed to supporting this journey by strengthening quality infrastructure, encouraging green finance, supporting innovation and creating better conditions for sustainable private sector development."

Dr. Nguyen Van Khoi, chairman of the Vietnam Association of Realtors and member of the Prime Minister's Advisory Council for Administrative Procedure Reform, said the ongoing restructuring of global supply chains, together with accelerating trends in green development, digital transformation, AI and the circular economy, is creating both opportunities and challenges for Vietnam as it seeks to strengthen its industrial competitiveness.

"To achieve the double-digit economic growth target in the coming years, in line with the direction set by General Secretary and President To Lam, we must create new growth drivers, with the development of modern industry continuing to play a pivotal role," he said.

"If we want industry to grow rapidly, we must first build a modern industrial park system. If we want to attract the world's leading technology corporations, we must provide development space that matches their requirements," Khoi said. "To enhance national competitiveness, IPs can no longer be limited to leasing land. They must evolve into high-quality ecosystems for manufacturing, innovation and supporting services."

Tran Van Quan, Vice Chairman of Haiphong People's Committee, reaffirmed the city's commitment to supporting the sustainable development of IPs nationwide. As one of Vietnam's leading industrial and economic hubs and a key international gateway in the northern region, Haiphong, he said, stands ready to accompany businesses and investors in this transition.

"During 2026-2030, Vietnam targets average annual GDP growth of at least 10 per cent, with manufacturing and processing industries continuing to serve as the primary growth engine. To achieve this goal, the industrial park system must continue to evolve through integrated planning and infrastructure development, green and digital transformation, stronger capacity to accommodate high-tech, semiconductor and innovation-driven projects, while significantly improving the investment environment and administrative procedures to reinforce the confidence of both domestic and international businesses and investors," he said.

Stavian IP chief on building sustainable industrial ecosystems Stavian Industrial Park is expanding its network of green, smart, and sustainable industrial parks across Vietnam. General director Nguyen Tuan Anh shared the company's strategy and growth plans with VIR's Thanh Van.

In Vietnam, the TVS survey indicates that investors are actively participating in multiple investment channels, with 55 per cent holding 2 to 3 investment channels and 39 per cent holding 4 to 5 channels. However, in terms of actual allocation, bank deposits, gold, and real estate still account for 87 per cent of the total asset portfolio of surveyed individual investors.

This concentration becomes more pronounced among investors with larger asset bases. As accumulated wealth increases, the proportion of real estate in the portfolio rises from 29 per cent among those with VND500 million ($19,250) to under VND1 billion ($38,500), to 46 per cent among those with VND2 billion ($77,000) or more.

By contrast, the combined allocation to modern financial channels such as equities, bonds, fund certificates, and foreign currency remains low, not exceeding 10 per cent across any asset group.

The survey also highlights a gap between awareness and action in portfolio diversification. While 86 per cent of respondents agree that most assets should not be concentrated in a single channel, 76 per cent still prioritise real estate or gold because they feel they understand these channels better. This suggests that the need for diversification is recognised, but actual allocation behaviour remains strongly shaped by familiar assets.

The survey also points to an underlying need for guidance in wealth management, yet the use of paid financial advisory services remains very limited, with 95 per cent of respondents saying they have never used such services.

The main barrier is not cost, but the perceived practical value of professional advisory services: 55 per cent say they have not seen the need, 41 per cent are confident in managing their assets independently, and 36 per cent are unwilling to share personal financial information.

Nevertheless, investors’ trust in financial institutions has not disappeared. Rather, it is shifting towards higher expectations for transparency and advisory quality. Among those who have used or are using paid financial advisory services, 75 per cent expect advisors to ask the right questions, clarify goals, explain risks, and support investors in making their own decisions. Only 25 per cent prefer to be given a specific investment strategy to follow.

Tran Vinh Quang, CEO of Thien Viet Asset Management, said that as investors become increasingly proactive in managing their wealth, the role of financial institutions is no longer limited to providing products or investment recommendations.

“It is about building a transparent, data-driven advisory process tailored to each client’s goals. Trust is built when investors can clearly see the practical value of professional advice: helping them understand risks, validate decisions, and maintain long-term financial discipline,” Quang said.

The report also highlights a gap between the desire to accumulate assets and the proactive development of long-term financial plans. Only 27 per cent of surveyed investors say they have a clear long-term financial plan for themselves and their families. The remaining 73 per cent have either not started, have not defined their goals, or do not yet have a specific roadmap.

Investors’ financial priorities also reflect the central role of family in asset-related decisions. When asked to select their most important long-term financial goals, healthcare for self and family and children’s education or overseas study ranked as the top two priorities, at 48 per cent and 47 per cent respectively. These were followed by real estate investment (35 per cent), financial freedom or independence from employment (33 per cent), and buying or upgrading a home (31 per cent).

As multiple long-term goals coexist, having a clear plan becomes essential for investors to allocate resources more effectively across different stages of wealth accumulation.

Notably, wealth transfer is still not viewed as a financial goal requiring proactive planning. Although real estate and ancestral/family assets play an important role in the wealth-accumulation mindset of many Vietnamese families, only 8 per cent of respondents included wealth transfer among their top financial goals.

This reveals a gap between the desire to pass assets on to the next generation and the preparation of a concrete plan to preserve, allocate, and transfer wealth effectively.

Le Pham Minh Duc, senior director of Investment Banking at TVS, noted that globally, wealth management is moving beyond the pursuit of returns alone towards risk management, asset preservation, and preparation for long-term goals.

“Vietnamese investors are following the same direction, while retaining distinct characteristics as portfolios remain concentrated in traditional channels. From our perspective, this report provides practical data to help investors assess their wealth not only by accumulated size, but also by resilience, risk allocation, and preparedness for their families’ long-term goals,” Duc said.

Thien Viet Securities reports profit and plans to divest over medium term Over the next 12–18 months, Thien Viet Securities (TVS) expects to partially or fully divest 1–3 of its current investments, while expanding into new sectors such as healthcare, food and beverages, and electric vehicles.

Private capital market shifts from growth-at-all-costs to patient capital As Vietnam's private capital market matures, investors are shifting their focus from aggressive expansion to long-term, sustainable growth. At the VIPC Summit on May 28, Nguyen Thanh Thao, CEO of Thien Viet Securities (TVS) explained why 'patient capital' – capital focused on governance, operational resilience, and sustainable value – is becoming the new benchmark.

Transport Logistic & Air Cargo China 2026 took place in Shanghai, China from June 24 to 26 on a record-breaking scale. The event hosted 939 exhibitors and attracted more than 47,000 trade visitors from 121 countries and regions.

As Asia’s largest trade fair for logistics, air cargo, IT and supply chain management, Transport Logistic & Air Cargo China 2026 was held against a backdrop where global supply chains are being shaped by technology, geopolitics, and sustainability requirements.

These shifts are increasing the need for comprehensive solutions that seamlessly connect air, rail, sea and road transport, to build safer and more resilient supply chains.

Evan Sha, president China and CEO of Messe Muenchen Shanghai Co., Ltd. said, “Leveraging multimodal resources, advanced technology, and global networks, Transport Logistic & Air Cargo Shanghai 2026 goes beyond scale to deliver real value, quality growth, and industry upgrading.”

Alongside the introduction and discussion of advanced solutions in multimodal transport, cross-border logistics, digital supply chains, and smart logistics, Transport Logistic & Air Cargo China 2026 also served as a platform for leading logistics companies to demonstrate their capabilities and expand international partnerships.

Following its successful participation in 2024, ITL returned to Transport Logistic & Air Cargo China 2026, represented by its senior leadership team and managers of strategic member companies, including ITL Aviation Logistics, ITL Freight Management and Sotrans Group.

According to Tony Anh, director of ITL Corporation and CEO of ITL Aviation Logistics, this reaffirmed ITL’s commitment to expanding international cooperation, developing a global partner network, and supporting customers in growing cross-border supply chains.

"Through strengthening international cooperation, ITL continues to enhance its capability to connect cross-border supply chains, creating more better conditions for Vietnamese enterprises to export goods with competitive costs, optimal transit times, and service quality that meets global standards," Anh said.

Over the course of the three-day exhibition, the ITL booth became a meeting point for the group and international airlines, customers, transportation partners and service providers across the global logistics ecosystem. Numerous in-depth discussions took place around collaboration opportunities, market demand and trends expected to shape the logistics industry in the future.

The ITL booth became a meeting point for the group and its partners at Transport Logistic & Air Cargo China 2026

“This event gave us the opportunity to directly listen to the needs of our customers and partners, thereby better understanding market movements. At the same time, it was also an occasion for ITL to demonstrate its international operating capabilities and readiness to effectively connect the Vietnamese market with regional and global supply chains,” Anh said.

With a comprehensive logistics ecosystem spanning Aviation Logistics, Freight Management, Contract Logistics, Port Logistics and Digitalised Logistics, ITL currently operates a total warehouse area of nearly 500,000 sq.m, along with a fleet of over 700 trucks and prime movers and 1,200 container trailers across Vietnam. In addition, ITL owns 34 barges as well as five ports and inland container depots strategically located across Vietnam.

In aviation logistics, ITL is currently a leading general sales agent and service agent (GSSA) in Vietnam and the Indochina region. It is the agrnt of more than 22 airlines, operating cargo transportation in more than 300 flights per week. ITL plays an important role in helping Vietnamese goods integrate more deeply into global value chains.

"The logistics industry is shifting rapidly under the impact of cross-border e-commerce, high-value manufacturing, demand for high-speed delivery, and sustainable development goals. In addition to continuously expanding capacity, ITL is investing in digitalisation, smart logistics, and green transition, helping customers connect more effectively with regional and global supply chains," Anh said.

ITL’s participation in Transport Logistic & Air Cargo China 2026 was not merely a trade promotion activity, but also demonstrated a strategy to integrate more deeply into the global logistics network.

With international operational capacity, a professional team, and an extensive partner network, ITL is gradually expanding its global footprint, contributing to raising the position of Vietnam's logistics industry on the world supply chain map.

ITL and Seino launch joint venture in Vietnam Vietnam’s logistics sector is gaining a new player as ITL Corporation and Japan’s Seino Holdings team up to meet rising demand for freight transport.

Driving skills award elevates traffic safety standards The Vietnam Logistics Safe & Excellent Driving Skills Award 2025 was held on December 7, an initiative designed to honour skilful drivers and promote safety standards in freight transport.

ITL engages customers in cold chain solutions dialogue On June 18, ITL Logistics hosted its first cold chain workshop with customers, aiming to explore ecosystem development solutions amid the rapid growth of the cold chain market and increasingly stringent quality requirements.

Co-organised by Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the event aims to identify solutions to unlock capital flows and build a modern digital financial infrastructure to drive Vietnam's economic growth.

The forum attracted representatives from ministries, central agencies, and Danang authorities, together with more than 350 policymakers, business leaders, and executives from leading domestic and international financial institutions.

Against the backdrop of a rapidly evolving and restructuring global economy, VFF 2026 seeks to provide a high-level platform for knowledge exchange and policy dialogue while exploring practical solutions to modernise Vietnam's capital market, improve transparency, and optimise financial infrastructure. These efforts are expected to help businesses access capital more efficiently and support the government's goal of achieving double-digit economic growth during 2026-2030.

Digital finance and green finance, driven by advanced technologies, also emerged as key themes throughout the forum. Participants highlighted that the digital transformation of financial infrastructure will reshape the movement of capital and create new momentum for Vietnamese enterprises.

As one of Vietnam's leading national enterprises, Techcombank has worked alongside the government on numerous strategic projects that have contributed to the country's economic development across finance, technology, infrastructure, healthcare, next-generation aviation hubs, logistics, and other priority sectors.

By co-organising VFF 2026, Techcombank is contributing not only financial resources but also its deep expertise in finance and technology, together with its international network, to help build a modern, transparent, and efficient financial ecosystem in Vietnam.

On the opening morning, Techcombank CEO Jens Lottner gave a keynote presentation titled "Domestic perspectives on VIFC: Connecting global capital to drive Vietnam's next growth phase."

"We believe Techcombank's role extends beyond providing capital. We are building the digital infrastructure that enables capital, data, and financial services to move seamlessly across the economy. Our ambition is to become Vietnam's most trusted financial platform, supporting the country's next stage of development by enabling both domestic and international capital to be allocated more effectively into sectors that generate sustainable economic value," Lottner said. "For Danang, we are also ready to share our practical experience in building efficient digital ecosystems and leveraging data and technology to connect citizens, businesses, investors, and public services."

The presentation focused on mechanisms to engage foreign investment and channel international financial resources into Vietnam's strategic projects. Drawing on Techcombank's experience in digital transformation and innovation, participants explored practical solutions to safely and efficiently connect global capital with the domestic market.

On the second day of the forum on July 10, senior experts from Techcombank and its ecosystem partners participated in specialised sessions, including "Where will the next $100 billion flow? Infrastructure, energy and industrial growth" and "Mobilising capital from international institutional investors," to discuss solutions for financing Vietnam's estimated $100-billion infrastructure investment pipeline.

Presentations throughout the event also examined the opportunities and challenges in developing an integrated financial ecosystem capable of connecting customers, business partners, and capital flows more effectively.

Techcombank's participation in VFF 2026 reaffirms its long-term commitment to unlocking financial resources, fostering innovation, and supporting the development of a transparent, modern and sustainable financial market for Vietnam.

Jens Lottner appointed CEO of Techcombank for second term Techcombank announced the appointment of Jens Lottner as CEO for a second consecutive term on August 7, covering the period from 2025 to 2030.

Banks ramp up plans to establish VIFC subsidiaries Banks are accelerating plans to set up subsidiary banks at the Vietnam International Financial Centre to expand the ecosystem and enhance international competitiveness.

Techcombank Private redefines wealth management in Vietnam Techcombank Private is setting a new benchmark for wealth management in Vietnam with a lifetime wealth management model that blends international expertise, a deep understanding of the country’s wealth landscape, and a premium lifestyle ecosystem.

Can you give us an overview of Messer's development in Vietnam over the past three decades?

As a top global industrial gas group, Messer has started operation in Vietnam since 1997. After nearly three decades of operation, Messer has established a nationwide industrial gas network in Vietnam, including 12 air separation plants, four nitrogen plants, one CO₂ off-take plant, six filling stations, and two logistics centre. This is coupled with production facilities for speciality gases such as krypton, xenon, helium, and neon.

Today, Messer is offering high-quality gas solutions to a wide range of industries, including manufacturing, healthcare, food processing, energy, and electronics. As a market leader, we believe it is our responsibility to advance decarbonisation in Vietnam. We want to prove that it is possible to develop low-carbon hydrogen in Vietnam. Thus, other players will follow the suit to promote wider industry adoption, thereby ultimately contributing to Vietnam's net-zero emissions' goal.

Why did Messer choose Vietnam as a location for its low-carbon hydrogen production?

Vietnam aims to achieve an average annual economic growth rate of at least 10 per cent during the 2026–2030 period. Achieving this ambitious target will be underpinned by rapid industrial expansion, rising output and green manufacturing across key sectors. Against the backdrop, companies are ramping up investments in electronics, automotive, energy, healthcare, and other industries. Meanwhile, manufacturers are increasingly greening their operations to meet more stringent sustainability requirements.

These trends will drive growing demand for high-quality industrial gases and hydrogen, supporting both Vietnam's industrial growth and the decarbonisation of its manufacturing sector. By establishing a strong production base in Vietnam, Messer is well positioned to supply low-carbon hydrogen to customers for their hydrogen and other industrial applications. We are also integrating rooftop solar power systems to produce low-carbon hydrogen from the beginning, contributing to advancing Vietnam’s green hydrogen industry.

How will your expertise help to develop the low-carbon hydrogen industry in Vietnam?

Hydrogen is not new to Messer. We have been working with hydrogen for more than 120 years. Our strong engineering capabilities and extensive experience give us a profound understanding of hydrogen technologies and their industrial applications. Our focus now is to make low-carbon hydrogen cost-competitive so that we can develop more low-carbon hydrogen projects in Vietnam.

To facilitate the goal, we expect to gain more access to renewable energy. At the same time, we also need an effective direct power purchase agreement mechanism and infrastructure to produce, transport, and further develop low-carbon hydrogen in Vietnam.

Why do you choose Ho Chi Minh City as the next destination for your investment?

There are several reasons why Messer chose Ho Chi Minh City in particular and the south Vietnam in general. One of the key factors is the region's energy infrastructure. The south Vietnam is home to a number of energy terminals. Among them, the Cai Mep terminal project serves as a strategic hub for energy distribution for power plants in the region. Together with our partners, we believe this location offers significant advantages for investment.

Another reason is the region's strong economic and industrial growth. Ho Chi Minh City and the south Vietnam are developing strongly, driving rising demand for industrial gases, particularly nitrogen. So we think this is the right place for us to develop low-carbon production of nitrogen and oxygen in the country.

The latest investment reflects Messer’s strategy to expand investment and production in Ho Chi Minh City and the wider southern region. The project will be equipped with cutting-edge technology and operated to international standards, enabling the supply of a wide range of industrial gases for various essential manufacturing and processing sectors.

What is the scale of the project, and what is the timeline for completion?

So this venture is approved internally on both sides – Vietnam and Messer. We’re starting the establishment of a joint venture. We’re going to order the equipment. The land will be ready soon, and then we’ll be able to start the construction. The project will take one and a half year to be able to finalise. So we hope that before the end of 2028, we’ll be able to deliver the first gas products from it

The facility will produce hydrogen, nitrogen, oxygen and argon. The Air Separation Unit will recover cold energy from the regasification of liquefied natural gas to reduce the refrigeration duty and electricity consumption of the air separation process.

This solution significantly reduces electricity consumption in the air separation process while producing the same high-quality industrial gases. So this is a very positive to reduce the carbon footprint of the end-users. Across the industries, companies can use liquid nitrogen or liquid oxygen for their factories. As a result, companies can reduce the carbon footprint associated with their industrial gas consumption.

Which industries will benefit from Messer's gas products?

Industrial operations require oxygen, nitrogen, argon, xenon, neon and krypton, along with CO₂, acetylene, hydrogen and helium, and a wide variety of gas mixtures. At Messer we call these gases 'Gases for Life'. They are produced in large-scale industrial plants and are just as important as water and electric power for many manufacturing processes, which make everyday products.

Gases for Life reflects the fact that our products serve virtually every industry. Nitrogen is widely used by electronics, footwear, food processing, metallurgy and many other sectors. Meanwhile, oxygen is essential for steel industry and hospitals across southern Vietnam. So all industries in Vietnam will benefit from our products.

Our customers span a wide range of industries in Vietnam, including the vehicle, steel, environmental engineering, food and beverages, construction, metallurgy, glass and ceramics, medicine and pharmaceuticals, the chemical industry, and research and development.

PVChem and Messer SE & Co. KGaA to build $37 million industrial gas plant PetroVietnam Chemical and Services Corporation (PVChem), a member of Petrovietnam, and Germany's Messer SE & Co. KGaA have signed a joint venture agreement to establish Cai Mep Industrial Gases Co., Ltd.

Quang Ngai awards investment licences to new projects valued at nearly $600 million At the announcement ceremony for Quang Ngai’s provincial planning for the 2021-2030 period, with a vision to 2050, and the commencement of the Hoang Sa-Doc Soi road project on December 24, Quang Ngai People's Committee awarded investment policy decisions to representatives of a number of projects.

Thai Nguyen hails foreign investment Thai Nguyen is becoming a conducive location for foreign-led investments and expansion.

Crowds gather at the TCL Solar booth for in-depth discussions and product demonstrations.

By presenting its complete product lineup which covers residential, C&I, and utility-scale projects, TCL Solar is positioning itself as a core partner in the region's accelerating solar energy implementation.

Technological Superiority: The BC Advantage

At the heart of the showcase is TCL Solar's signature Back Contact (BC) Technology. Engineered for peak performance, the signature BC modules deliver:

• Performance: Maximum power output of over 710W, and module conversion efficiency exceeding 26%.
• Innovation: Advanced photolithography and fully passivated contact, with cell efficiency reaching 27.5%
• Reliability: A 96%+ busbar-free coverage rate, combining high-efficiency power generation with a sleek, all-black aesthetic optimized for tropical climates.

TCL Solar anchors this performance with Dual-Native Core Moats:

• IP Autonomy: Over 1,600 global BC patents, ensuring total technological control and minimizing risk for our partners.
• Vertical Integration: Exclusive TS002 high-efficiency, low-carbon silicon wafers (minority carrier lifetime >10,000μs), which improve purity while reducing the carbon footprint by 10%.

Strategic Localization in Southeast Asia

Capitalizing on the N-type technology shift, TCL Solar is scaling its BC production capacity to meet Southeast Asia's surging energy demand. Our localized, project-first approach unlocks peak profitability across your residential, C&I, and utility portfolios.

By establishing local service centers, providing technical training, and optimizing supply chain resilience, TCL Solar is empowering regional distributors and EPCs to deliver reliable, long-term PV projects.

Building a Clean Future

Looking ahead, TCL Solar remains committed to its mission as a world-class PV enterprise. By leveraging BC technical innovation, localizing manufacturing, and building robust partner ecosystems, the brand continues to drive the global adoption of high-efficiency, sustainable energy solutions, contributing to a low-carbon emission future for emerging economies worldwide.

nubia Neo 5 GT Special Edition Debuts with the First and Only Liquid and Air Dual Active Cooling System in Its Class

"At nubia, our brand DNA is built on relentless tech innovation and deep gamer insights, enabling us to continuously push gaming smartphones forward. After eight years' commitment in esports, we believe that sustained performance matters most and the cooling management is what decides it," said Bai Keke, Vice President of ZTE, "nubia Neo 5 GT Special Edition is designed to solve that challenge by combining active air-cooling, drawn from esports PC design, with active liquid-cooling, inspired by AI server thermal management. From the built-in fan we pioneered at MWC Barcelona 2026 to liquid cooling today, we're building a thermal-first ecosystem where young gamers can stay cool, stay smooth from start to finish."

Enter a New Era of Cooling with the Revolutionary AquaCore Cooling System
At the center of this model is nubia's AquaCore Cooling System, which combines liquid cooling and air cooling in a dual-active thermal architecture. The liquid cooling system uses an AI Server-Grade Coolant built for long-term reliability. Powered by a piezoelectric micropump and a three-layer cooling film, it drives continuous coolant circulation in a clockwise flow thus to transfer heat more efficiently from core components to cooler areas. A transparent design reveals the movement of the coolant, adding a distinctive gaming aesthetic that turns the engineering into part of the device's identity.

The built-in active cooling fan works together with Through-Flow Duct Design to generate a high-speed airflow path that accelerates heat dissipation. As the liquid loop draws heat away from core components, the fan helps expel it more efficiently. To further strengthen cooling efficiency, nubia has expanded the total heat dissipation area to 33,652 mm², combining VC, graphite, and liquid cooling technologies into one ultra-large thermal architecture.

Console-Level Control for Comfortable, Responsive Gameplay
nubia has equipped the device with 550Hz Neo Triggers 5.0 paired with the 3049Hz Instant Touch Rate and Magic Touch 3.0 algorithm, achieving the industry-leading sub-5.5ms latency to deliver an instant touch response. It also features a completely flat back, the only one in its class, with refined rounded corners and a 90-degree charging cable for a more comfortable in-hand feel.

Powered by the Cold-Core Trinity with MediaTek Dimensity 7400 4nm chipset, up to 24GB Dynamic RAM and NeoTurbo Engine optimization, it's built to deliver high and stable frame rates. This device equips a 6,210mAh dual-cell battery, supported by 80W (45W PD for EU market) fast charging and Bypass Charging. It also supports 5% Extreme Mode, delivering up to 30 minutes of extra gaming.

Immersive Gaming Experience Enhanced by AI Copilot Demi
nubia Neo 5 GT Special Edition features a 6.8-inch 1.5K AMOLED display with a 144Hz refresh rate and 4,500nits local peak brightness, delivering vivid clarity in fast-moving titles across changing light conditions. Paired with stereo dual speakers with DTS:X^® Ultra and an X-axis linear motor, it creates a more immersive sensory experience.

Beyond hardware, nubia has integrated AI Copilot Demi 2.0 to complement the way users game and interact. Features such as Gaming Coach, Gaming Chatbot, and Demi Auto-Chat are designed to provide guidance, support communication, and help users stay focused without interrupting gameplay.

nubia Neo 5 GT Special Edition rolls out globally this July, starting in Southeast Asia. The device comes in Surge Black and Glacial Silver, and is available in 24GB (12GB+12GB) RAM with 256GB or 512GB of storage, backed by a five-year software update commitment, reinforcing nubia's dedication to long-term stability.

As manufacturers face rising production costs, supply chain volatility, labor shortages, and increasing customer demands, technology is evolving beyond traditional digitalization. While conventional manufacturing software has helped standardize operations and centralize data, most systems still rely on users to interpret information, identify problems, and determine the next course of action.

HashMicro X represents the next evolution of enterprise manufacturing software. Built with AI at its core, the platform goes beyond recording transactions and generating reports by providing intelligent recommendations and automating execution. The result is software that not only manages operations but actively helps optimize them.

Built into every stage of the manufacturing workflow, HashMicro X helps manufacturers move from reacting to problems to anticipating them. Production planners can generate optimized schedules based on machine capacity, material availability, and deadlines. Procurement teams receive early warnings of shortages with recommended actions, while quality managers can identify recurring defects, uncover root causes, and reduce waste through AI-driven analysis.

"Manufacturers generate enormous amounts of operational data every day, but data alone doesn't improve productivity," said Syifa, VP of Strategic Communications at HashMicro. "Businesses need AI that understands the context behind every order, machine, and production line, then recommends the next best action or takes routine actions automatically. That's the difference between software that records work and software that helps run the business."

Unlike traditional systems that primarily capture transactions and produce reports, HashMicro X acts as an intelligent operational layer embedded across the business. It detects anomalies, recommends corrective actions, and automates workflows across production, inventory, procurement, maintenance, and quality control. By turning intelligence into immediate action, manufacturers can respond faster to disruptions, improve resource utilization, and keep production running efficiently.

The AI-native capabilities are seamlessly integrated into HashMicro's enterprise software suite, allowing manufacturers to adopt advanced AI without disrupting existing processes while maintaining enterprise-grade security, scalability, and governance.

Located in Gangnam — Korea's premier business and innovation hub — the office places Sunmi at the heart of a mature digital payment ecosystem. The opening ceremony gathered over 40 local distributors, ISVs, payment partners, and retail clients including ETEVERS, SK Networks, IMT soft, Toshiba Korea, GS retail, and Eximbay.

"Korea is one of the most digitally mature markets in the world and an essential part of Sunmi's global strategy," said Lin Zhe, founder and CEO of Sunmi. "With this office, we will work closely with local partners to deliver smarter and more efficient digital commerce solutions to Korean merchants."

Sunmi currently has approximately 6.6 million monthly active devices worldwide, serving over 220 countries and regions. The Sunmi Home serves as both a product showroom and a local co-creation platform, where merchants can experience smart IoT terminals and commercial Physical AI solutions tailored to Korean payment, food delivery, and tax scenarios. Future plans include tech salons, solution demos, and developer meetups.

Later this year, Sunmi's first Japan location is also set to open, adding Tokyo to a network spanning Singapore, Seoul, Ho Chi Minh City, and Bangkok.

Travelers from China fuel stronger interest in Indonesia in 2026

Rising interest in Indonesia reflects shifting travel preferences across the region, with more travelers seeking a broader mix of destinations and experiences. Among Indonesia's major inbound markets, China recorded the highest year-on-year growth in travel interest at 44%. The momentum is likely to continue throughout 2026 as Indonesia recently announced the introduction of new flight routes to expanded air connectivity between the two markets.

Agoda also reports growth in interest from Malaysia and Singapore at 18% and 17% respectively, underscoring rising interest from Southeast Asian travelers even as appetite softens from some destinations in North Asia such as Japan and South Korea. The shift in travel preferences is also likely reinforced by the weakening rupiah, which has made Indonesia even more attractive to travelers prioritizing value.

Bali retains #1 spot for inbound travelers; Sukabumi emerges as a rising star

Agoda's data also highlights the destinations attracting the most international travelers to Indonesia, with Bali, Jakarta, Batam Island, Lombok, and Bandung ranking as the top five most searched destinations. While Bali continues to lead as the country's most sought-after destination, Jakarta and Batam's ranking points to growing interest in urban gateways and border-island destinations, alongside established leisure hotspots like Lombok and Bandung.

Beyond the top destinations, Agoda's data also points to rising interest in emerging locations across Indonesia. Sukabumi emerged as the fastest-growing destination, with traveler interest rising 4.6x, driven by its lush highlands, waterfalls, and geopark landscapes. In eastern Indonesia, Manado and Gorontalo ranked as the 2^nd and 3^rd fastest-growing destinations, with searches growing around 3x compared to H1 last year. These destinations attract travelers with their rich marine biodiversity, distinctive local culture, and vibrant culinary offerings.

Gede Gunawan, Senior Country Director, Indonesia at Agoda, shared, "Indonesia's appeal is clearly broadening, especially among travelers from China and Southeast Asia. The strong growth in interest to destinations like Sukabumi, Manado and Gorontalo show that travelers are eager to explore more of what Indonesia has to offer beyond Bali. The combination of affordability, accessibility, and diverse experiences positions Indonesia well for continued growth in travel interest through the rest of 2026. Agoda remains committed to supporting Indonesia's tourism growth with a seamless platform that makes travel more accessible and easier to plan."

With over 130,000 flight routes, more than 6 million holiday properties, and over 300,000 activities, Agoda enables travelers to plan and combine every part of their journey in one place. Discover the best deals on Agoda's mobile app and visit Agoda.com to plan your next trip.

By combining accredited vocational training with practical work experience and holistic support, the project aims to equip disadvantaged young people with the skills, confidence and opportunities required to build sustainable careers. The initiative connects youth employment with the long-term development of a skilled local workforce for the tourism industry.

Vietnam has one of the largest youth populations in Southeast Asia, yet young people aged 15–24 account for almost half of the country’s unemployed population. Access to quality vocational education remains limited, particularly for those from low-income households, rural areas, or unstable family backgrounds.

Only a small share of the workforce holds a recognised vocational qualification, and the gap between education and the needs of the labour market continues to widen. As a result, many young people are forced into insecure employment or remain excluded from formal work, increasing their vulnerability to exploitation and long-term poverty. At the same time, Vietnam’s expanding tourism and hospitality sector creates a clear opportunity to align inclusive education with sustainable tourism growth.

TUI Academy Hanoi addresses these challenges through a structured, two-year hospitality training programme for disadvantaged young people aged 18–24. The project is implemented in collaboration with Net4kids, an organisation that connects companies and entrepreneurs to high-impact projects for youth and KOTO Foundation, a local social enterprise with more than 25 years of experience in vocational training and youth support.

The programme combines internationally accredited hospitality education with practical learning in a professional environment, alongside English language, computer training, and life skills development.

In addition to skills training, the Academy provides accommodation, meals, transport support, hygiene products, and counselling services, ensuring a safe and stable learning environment. By the end of the programme, at least 95 participants are expected to graduate, with a minimum of 85 securing employment in the hospitality sector within six months. The project also aims to strengthen participants’ self-confidence, independence, and ability to function effectively in professional and personal settings.

By linking vocational education with employment opportunities in tourism, TUI Academy Hanoi contributes to more inclusive and sustainable tourism in Vietnam.

Through long-term employability, recognised qualifications, and personal development, the academy delivers lasting benefits for individuals, communities, and tourism destinations alike.

Chronic shortage in tourism personnel After more than two years of COVID-19, most tourism personnel had switched to other occupations to make a living. Now that tourism has reopened, improving the quality of training for the tourism workforce has become imperative to meet the ever-burgeoning development requirements of the industry.

Tourism real estate must create real cash flow To generate sustainable values, tourism real estate must operate as a destination ecosystem to generate real cash flow and long-term trust.

Vietnam reshaping Southeast Asia's tourist map Vietnam is redrawing Southeast Asia's tourism landscape as visa reforms and infrastructure upgrades boost its global appeal.

According to the data, the combined market share of the top 10 brokerage firms fell by as much as 4 per cent, from 69.05 per cent in Q1 to 65.19 per cent in Q2, the lowest level recorded in recent years.

Among the leading firms, only SSI, TCBS and VPBankS managed to expand their market share amid increasingly fierce competition.

VPS Securities continued to lead brokerage market share on HSX in Q2 with 12.61 per cent. Although it maintained its top position, VPS's market share declined sharply from 15.32 per cent in the previous quarter, representing a loss of 2.71 percentage points to competitors.

The result suggests that VPS's previously overwhelming dominance has begun to narrow after several consecutive quarters leading the market.

SSI Securities ranked second, with its brokerage market share edging up slightly from 11.14 per cent to 11.17 per cent, reflecting the firm's stable business performance and continued ability to broaden its client base despite weakening market liquidity.

TCBS ranked third with a 9.36 per cent market share, up slightly from 8.85 per cent in the previous quarter, allowing it to retain its third-place position.

Vietcap remained fourth with a 7 per cent share on HSX, although this was down slightly from 7.35 per cent in Q1.

In contrast, the four firms immediately behind the top four all experienced notable declines in market share. Vietcap's brokerage market share fell from 7.35 per cent to 7 per cent, while MB Securities and Ho Chi Minh City Securities Corporation each lost 0.5 percentage points.

The steepest decline was recorded by VNDirect, which lost a further 0.82 percentage points, bringing its brokerage market share down to 3.96 per cent, the company's lowest level in many years.

Newly listed brokerage firm VPBankS posted the strongest growth among the top 10 firms. HSX data showed its market share rising from 2.94 per cent in Q1 to 3.57 per cent in Q2. The increase also lifted VPBankS to eighth place, overtaking KIS Vietnam and Mirae Asset Vietnam.

The fact that only a handful of the largest brokerage firms on HSX, including TCBS, SSI and VPBankS, recorded market share gains during the quarter, while all other firms saw varying degrees of contraction, highlights the increasingly intense competition in Vietnam's securities brokerage industry.

Vietcombank Securities even dropped out of the top 10 after holding a 2.87 per cent market share in Q1. It was replaced by Mirae Asset Vietnam, which returned to the list of HSX's 10 largest brokerage firms with a 2.94 per cent market share.

For the first half of 2026 as a whole, VPS remained the market leader on HSX with a 14.14 per cent brokerage market share, followed by SSI and TCBS in second and third place, respectively.

Against a backdrop of declining market liquidity, brokerage activity also revealed an unusual trend as the combined market share of the top 10 firms fell to 65.19 per cent, the lowest level since Q4 of 2022, when it stood at 62.01 per cent. This means that nearly 35 per cent of the market is now accounted for by brokerage firms outside the top 10.

Brokerage competition intensifies as market liquidity surges in Q1 Competition among securities firms for brokerage market share is intensifying as rising liquidity fuels growth, with capital strength, technology investment, and service ecosystems emerging as key advantages.

SHS honoured for outstanding financial brokerage services Saigon-Hanoi Securities JSC (SHS) has been honoured for its outstanding financial brokerage services, thanks to a team of professional consultants and its clear product development strategies based on in-depth research and understanding of customer needs.

Profit divide widens among securities firms in Q1 The securities industry posted a stark split in the first quarter of 2026, with bank-backed brokerages delivering strong profit growth while smaller firms struggled with losses amid rising competition and risky proprietary bets.

Sustainability is becoming an increasingly important factor in determining manufacturing competitiveness worldwide. One of the clearest examples is the tightening of chemical management standards, particularly in Europe, where evolving regulations such as PFAS restrictions are already influencing market access for exporters across Vietnam and South APAC.

For manufacturers serving international markets, compliance with local regulations alone is no longer sufficient, as products must also meet the requirements of increasingly demanding export destinations.

A second major trend is the growing pressure to decarbonise and improve resource efficiency. Customers are under constant pressure to reduce scope emissions, lower energy consumption, and minimise waste. Although coatings represent only a relatively small proportion of overall production costs, they can have a significant impact through longer durability, fewer repainting cycles, reduced waste generation, and more efficient application processes.

Third, there is an increasing focus on supply chain resilience and transparency on environmental, social, and governance (ESG) issues. Regulators, investors, and particularly global brand owners want to understand what is contained in a product and how and where it was manufactured, how resilient the supply chain is, and whether it is future-proofed against emerging risks.

These developments are raising the standards expected of coatings suppliers across South APAC. This is why we are investing in PFAS NI technologies, expanding efficient local manufacturing hubs such as our facility in Bac Ninh, and strengthening technical support in the field. Our objective is to help customers stay ahead of these changes rather than constantly react to them.

Sustainability is embedded in the way AkzoNobel manufactures, innovates, develops products, and creates long-term value for customers

In the face of evolving global standards, how has AkzoNobel adjusted manufacturing and business models to stay aligned with the group’s ESG commitments?

Within our South APAC powder coatings business, sustainability is embedded not only in how we manufacture, but also in how we innovate, develop products, and create long-term value for customers.

On the manufacturing side, we are upgrading facilities to improve energy efficiency and reduce carbon intensity through better process control, advanced equipment, and the gradual adoption of renewable electricity. We also monitor energy use and carbon emissions per tonne of powder as key performance indicators.

From a commercial and product perspective, we are increasingly leveraging the inherent ESG advantages of powder coatings over liquid coatings. Powder coatings contain no solvents, generate very low VOC emissions, and achieve high material utilisation rates. We are expanding our portfolio of durable, compliance-focused solutions, particularly in the architectural and industrial segments, helping customers extend asset lifecycles and reduce the need for repainting.

Within our innovation pipeline, we are developing powder coating technologies that anticipate future regulations and help manufacturers in Vietnam and across the region compete more effectively in export markets through lower-impact, future-proof coating solutions. This is where ESG becomes a genuine strategic differentiator rather than simply a reporting requirement.

Equally important is our collaboration with customers. Our technical service teams work directly on production lines to improve transfer efficiency, reduce waste, optimise curing processes, and lower energy consumption. In some cases, this may even mean customers use less powder coating, but we believe that delivering better environmental and operational outcomes creates stronger long-term partnerships.

We are also working more closely with suppliers through our code of conduct and increasingly incorporating carbon and ESG data into our sourcing processes to strengthen transparency across the value chain.

Finally, ESG is embedded directly into how we manage the business, it is not just a side project for us. It is fundamental to how we operate the South APAC powder coatings business and how we differentiate ourselves in the market.

Regarding differences across markets, Vietnam stands out as one of the fastest-growing markets in the region, both domestically and from an export perspective. Compared with countries such as Australia, which is relatively self-sufficient, Vietnam is much more export-oriented and therefore more exposed to international regulatory developments.

Vietnam is probably our fastest-growing market today, with India following closely behind. However, India’s growth is driven largely by domestic demand, whereas Vietnam’s distinctive strength lies in its export sector. This is one of the key reasons why we continue to invest heavily in the country. Our investments are intended not only to support local demand, but also to reinforce Vietnam’s position as an important export manufacturing base.

How do AkzoNobel’s ESG-driven operations and partnerships help strengthen Vietnam’s reputation as a high-standard and resilient export base?

Vietnam is rapidly becoming one of the world’s most important manufacturing hubs, and our objective is to ensure that coatings are never the weak link in that success story.

From an operational perspective, our investment in Bac Ninh is focused on building a modern, reliable, and lower-impact supply base. The expansion enhances production flexibility, shortens lead times, and enables customers to access products designed to meet increasingly stringent global standards, including emerging PFAS-related requirements.

From a partnership perspective, our local technical service teams work directly on customers’ production floors, helping them modernise coating lines, improve transfer efficiency, reduce waste and energy consumption, and ensure that finished products meet the performance and sustainability expectations of export markets such as the European Union and the United States.

Taken together, these ESG-driven operations and partnerships help Vietnamese manufacturers operate more efficiently, remain compliant with evolving regulations, and build greater resilience. In turn, this directly strengthens Vietnam’s reputation as a highly compliant, sustainable, and resilient manufacturing hub capable of delivering world-class green products.

Vietnam is investing heavily in infrastructure development and advancing its green transition. How can AkzoNobel’s business model support this process?

In the architectural segment, we have developed a range of super-durable powder coatings with significantly longer service lives. Our approach goes beyond supplying products; we also provide long-term assurance through approved customer networks whose coating lines are audited and qualified by AkzoNobel.

These solutions contribute directly to greener buildings by reducing the need for repainting, maintenance, and resource consumption over a building’s lifecycle. Increasingly, architects and developers are evaluating projects on initial performance as well as durability and environmental impact, and our coatings are designed to support those objectives.

Through our Eco+ Products, our most sustainable powder coatings portfolio, we help customers reduce environmental impact while maintaining the durability and performance required for demanding applications. This includes our super-durable Interpon D2000 powder coatings range and Interpon Redox corrosion protection systems, which help extend asset service life and reduce maintenance requirements, as well as Interpon Low-E that helps lower energy consumption during the curing process. Together, these solutions help customers reduce resource consumption and improve whole-life sustainability outcomes.

Beyond the coating itself, we support customers through our Eco+ Services offering. This includes tools such as our Eco+ Cure energy calculator, which helps identify opportunities to reduce curing energy consumption, and Flightpath Pro, which uses AI-driven insights to optimise application efficiency, reduce powder waste, and improve line performance. These tools help customers translate sustainability ambitions into measurable operational improvements.

Top 100 ESG Vietnam Green Enterprises announced for 2026 The Top 100 ESG Vietnam Green Enterprises and Top 10 ESG Green Enterprises in key industries have been announced, recognising businesses that have embedded sustainability principles into their long-term strategies.

According to the Asian Development Outlook report released on July 9, the region's growth forecast was downgraded to 4.6 per cent for 2026, a modest 0.1 percentage point reduction from April projections, due to weaker external demand and higher input costs.

Inflation forecasts for developing Southeast Asia are revised up from 3.2 per cent in April to 3.9 per cent in 2026 and from 2.8 per cent to 2.9 per cent in 2027. The upward revisions reflect higher global energy and food prices linked to the Middle East crisis, as well as exchange rate pressures that have raised import costs across the subregion.

Among them, Vietnam remains the region’s fastest-growing economy, with growth forecasts maintained at 7.2 per cent for 2026 and 7 per cent for 2027. Robust performance across these economies reflects sustained growth in manufacturing, resilient exports and investment, and steady domestic demand.

In addition, ADB has lowered its growth forecast for developing Asia-Pacific economies to 4.9 per cent for 2026 compared to 5.5 per cent growth in 2025. This is a reduction of 0.2 percentage points from April projections. Prolonged disruptions to energy markets caused by the Middle East conflict have weighed more heavily on the region’s prospects than anticipated.

With impacts extending beyond energy to fertilisers, other commodity prices, and supply chains, inflationary pressures are likely to persist. Regional inflation is now forecast at 4.3 per cent this year compared to 3 per cent in 2025 – an upward revision of 0.7 percentage points from April. The inflation forecast for 2027 remains at 3.4 per cent.

The report warns that renewed conflict escalation and prolonged geopolitical uncertainty remain key risks to the region’s outlook. These could further tighten energy markets, raise risk premiums, and intensify inflationary and external pressures.

Tighter global financial conditions pose additional risks, with sovereign bond yields and borrowing costs rising, and fiscal deficits projected to widen in several economies. Higher tariffs and elevated trade policy uncertainty could also weigh on activity, while rising fertiliser prices continue to threaten agricultural output and food security.

ADB and HDBank sign $100 million loan targeting women-owned businesses On July 7, the Asian Development Bank signed a $100 million loan with Ho Chi Minh City Development Joint Stock Commercial Bank to expand access to finance for micro, small, and medium-sized enterprises in Vietnam, with a focus on those that are women-owned.

Southeast Asia needs to tackle energy security vulnerabilities amid Strait of Hormuz crisis Southeast Asian governments are taking steps to strengthen energy security, but bolder action and stronger regional cooperation are necessary as energy demand continues to grow.

Manufacturing sector ends the first half of 2026 on a positive note Vietnam's manufacturing sector remained in growth territory in June, supported by rising demand in new orders and easing inflationary pressures.

MoTA Alpha: What's New

MoTA Alpha builds on the beta's foundation as an AI-native investment team workbench — a platform that enables professional investors and portfolio managers to assemble, manage, and supervise teams of specialized AI agents across research, analysis, risk, and execution functions within a structured, auditable workflow, with mandatory human review and final sign-off at every stage.

Three headline upgrades define this release:

1. Agent Talents Market
   An open marketplace where third-party developers can create, publish, and rank AI trading agents. Users subscribe to or deploy agents built by independent creators, with all agents running on Waton's infrastructure. Agent's internal logic remains under creator control; Waton provides the platform layer and execution environment.
2. Enhanced Multi-Agent Collaboration
   A rebuilt task orchestration layer that improves inter-agent communication, role assignment, and decision audit trails. The result is a workflow that mirrors the dynamics of a real investment team — each agent operates within its mandate, escalates to human supervisors where required, and maintains a complete, reviewable log.
3. Redesigned Interface
   A significantly improved user experience that preserves MoTA's distinctive 8-bit pixel-art visual identity — a deliberate departure from the blue-and-white minimalism that dominates fintech — while increasing information density and operational speed for professional workflows.

The Strategic Pivot

MoTA Alpha represents the clearest demonstration yet of Waton's evolution from a financial infrastructure provider into an AI-native product company.

Since its NASDAQ listing in April 2025, Waton has positioned itself as the world's first publicly traded AI agent holding company. Yet its revenue base has remained rooted in traditional securities brokerage and Broker Cloud SaaS solutions serving institutional clients in Hong Kong. MoTA Alpha changes that equation: AI is no longer a narrative layer on top of an existing brokerage business — it is now a tangible, independently monetizable product line.

The company is structuring itself around a "brokerage infrastructure + AI application" dual-engine model. This is a meaningfully different profile from either pure-play online brokers or conventional fintech SaaS firms, positioning Waton closer to the emerging category of AI-native financial platforms.

Financial Foundation

According to Waton's unaudited financial results for the first half of fiscal year 2026 (six months ended September 30, 2025), total revenues rose 106.3% year-on-year to $6.10 million, driven by a 223.1% increase in brokerage and commission income to $4.17 million. Cash and segregated cash stood at $29.88 million, with total assets of $68.98 million.

Notably, the company reported research and development expenses as a standalone line item for the first time ($0.39 million in H1 FY2026), alongside significant share-based compensation tied to AI product development. MoTA Alpha is the first scaled output of this R&D pipeline.

Management Commentary

"The Alpha release of MoTA marks Waton's evolution from a financial technology services provider to an AI-era infrastructure and product company," said Zhou Kai (Tony Zhou), Chairman and Chief Technology Officer of Waton Financial. "We are not building a chatbot for trading. We are building a platform where professional investors manage teams of AI agents — each with defined roles, clear accountability, and human oversight. The Agent Talents Market extends this further: MoTA transitions from a product into an ecosystem."

Roadmap

Following the Alpha release, Waton expects to open MoTA to public beta testing in Q3 2026. The platform currently supports Hong Kong and U.S. equity markets, with digital asset coverage on the product roadmap. MoTA is available as a standalone application at m.mota.ai and integrates with Waton's existing brokerage and TradingWTF infrastructure.

For investors tracking $WTF, MoTA Alpha serves as the first real test of whether the "AI agent holding company" thesis translates from corporate positioning into a durable commercial model.

Media Contact

https://www.wtf.us

https://www.mota.ai

First, the maximum ratio of short-term funding that banks may use for medium- and long-term lending has been increased from 30 per cent to 40 per cent.

The amendment is considered highly significant at a time when demand for medium- and long-term financing is rising sharply, particularly for real estate, infrastructure, energy and industrial park projects.

Second, banks are now permitted to include 20 per cent of the State Treasury's term deposits in their total deposits when calculating the loan-to-deposit ratio (LDR). The change is expected to improve liquidity indicators significantly for many banks, especially state-owned lenders.

In addition, the SBV has introduced a special mechanism allowing new loans extended to 18 projects developed by major groups including Vingroup, Sun Group and Masterise to be excluded from annual credit growth limits.

According to estimates by VNDIRECT Securities, the combined funding requirement for these projects will approximate $30.08 billion during 2026-2028. In 2026 alone, the projects could increase total outstanding credit in the banking system by approximately $8.4 billion, equivalent to nearly 1 per cent of total system-wide loans.

Analysts believe the move signals a shift in regulatory policy from distributing credit quotas evenly across the banking sector to prioritising capital flows towards large-scale projects capable of generating stronger economic growth.

Although the new policies significantly expand lending capacity, analysts expect the impact to vary across institutions.

Banks with high capital adequacy ratios, strong asset quality and robust risk management capabilities are expected to capitalise more effectively on the opportunity to expand lending.

In contrast, lenders with thinner capital buffers or elevated non-performing loan ratios will still need to exercise caution, as new loans still spot on their balance sheets, increasing pressure on their capital adequacy ratios as well as raising risk concentration threat.

According to MBS Research, non-performing loan pressure showed no clear signs of easing during the second quarter of 2026.

Loan-loss provisioning expenses at banks under MBS observation are projected to increase by around 19 per cent on-year, preventing profit growth from fully matching the pace of credit expansion.

Meanwhile, VNDIRECT also cautioned that strong credit demand could continue to tighten liquidity conditions if deposit growth fails to keep pace, placing upward pressure on interest rates.

Considering factors including liquidity advantages, the ability to participate in project financing and room for further credit expansion, securities firms have consistently favoured state-owned banks.

Vietcombank, BIDV and VietinBank are viewed as the primary beneficiaries of both policy changes, namely the revised LDR calculation formula and the special credit mechanism for strategic projects.

Among private-sector lenders, Techcombank stands out thanks to its extensive experience in real estate financing and large syndicated loans.

MB, VPBank and HDBank are also viewed positively due to their strong credit growth and capacity to expand corporate lending.

With Vietnam maintaining an ambitious GDP growth target, credit flows are expected to continue prioritising large-scale infrastructure and real estate developments.

This is likely not only to support lending activities across the banking sector, but also to serve as a fresh catalyst for banking stocks during the second half of 2026.

Beyond the banking sector, residential and commercial real estate developers, represented by VHM, KDH, NLG, NVL, PDR and DIG, are expected to benefit through a dual mechanism as developers gain access to more affordable medium- and long-term financing while lower mortgage rates stimulate housing demand.

Industrial real estate companies including KBC, IDC, BCM and SZC are expected to benefit from expanded land bank development, while infrastructure and build-operate-transfer operators such as HHV, CII, VCG and FCN, whose projects typically have investment horizons of 10 to 25 years and rely heavily on long-term financing, are likely to benefit directly from lower borrowing costs through improved profit margins.

Suppliers of construction materials, particularly steel producers such as HPG and NKG, are also expected to benefit.

Nevertheless, analysts believe the stock market is likely to become increasingly polarised in the future. The expansion of credit does not mean that all banking, real estate or infrastructure stocks will benefit equally.

Companies with strong fundamentals, prudent risk management and the ability to participate in strategic projects will be best positioned to translate the new policies into sustainable earnings growth.

Specific credit policy needed for Mekong Delta growth Talking to VIR’s Binh An after the unveiling of the Mekong Delta Annual Economic Report in Ho Chi Minh City on March 27, Dr. Vu Thanh Tu Anh, senior lecturer of the Fulbright School of Public Policy and Management, pointed out obstacles to private sector development in the region.

Vietnam fine-tunes credit policy to fuel productive growth The State Bank of Vietnam is sharpening its credit strategy by easing capital flows to priority sectors while tightening oversight of riskier lending, as outstanding credit approaches nearly $800 billion.

Banking sector showcases digital transformation progress at 2026 competition Vietnam’s banking sector is stepping up digital transformation as regulators seek to modernise financial services, strengthen cybersecurity, and improve technology capabilities.

SBV proposes raising short-term lending cap to 40 per cent The State Bank of Vietnam has proposed raising the cap on short-term funding used for medium- and long-term lending from 30 per cent to 40 per cent.

Under the agreement, INFINITIX will deploy its AI-Stack heterogeneous computing management platform and ixCSP AI cloud platform to help governments and enterprises build secure, scalable AI computing environments, maximize GPU utilization, and rapidly deliver AI services. Together, the platforms enable organizations to transform computing resources into scalable, monetizable AI services for Generative AI, Agentic AI, and Large Language Model (LLM) applications.

Established in 1991, SAINS is the Sarawak State Government's primary ICT partner, providing digital government, cloud, cybersecurity, AI, and smart city solutions. The company has implemented more than 300 government information systems and is leading initiatives such as Sovereign AI Infrastructure, GPU-as-a-Service (GaaS), and LLM-as-a-Service (LLMaaS).

"The future of AI will be defined not by who owns the most GPUs, but by who can manage and commercialize them most effectively," said Wen-Yu Chen, Co-founder and CEO of INFINITIX. "Together with SAINS, we are creating a Sovereign AI foundation that converts computing power into scalable AI services and long-term economic value for governments and enterprises."

The partnership combines SAINS' public-sector ICT leadership with INFINITIX's expertise in GPU orchestration and heterogeneous computing management to accelerate national AI initiatives and regional digital transformation.

The collaboration also strengthens INFINITIX's international growth strategy. As the company expands across Japan, South Korea, and Southeast Asia, it continues working with governments, cloud service providers, system integrators, and enterprise partners to advance the next generation of Sovereign AI and AI Cloud Economy.

www.infinitix.ai

Advancing into Japan's Frequency Regulation Market

Japan's frequency regulation market is known for its stringent technical and operational requirements for battery energy storage systems, including performance, response speed, reliability, and system integration capabilities. Before entering commercial operation, the Matsusaka project successfully completed grid connection, system commissioning, market qualification, and trading registration.

Delivered in collaboration with local partners, the project was developed to meet all applicable market requirements and support stable participation in frequency regulation services, demonstrating the readiness of SINEXCEL's energy storage solutions for one of the world's most demanding power markets.

1375kW PCS Adapted to Japan's Grid Requirements

The project incorporates two SINEXCEL 1375 kW PCS units within a 2 MW/8 MWh battery energy storage system. Designed to meet Japan's stringent grid connection and power quality requirements, the PCS delivers fast response, precise power control, and reliable grid support capabilities essential for frequency regulation services.

Strengthening Local Presence in Japan

SINEXCEL has been active in Japan for more than five years, starting from 30 kW and 500 kW PCS applications and gradually expanding into utility-scale energy storage deployments.

Today, SINEXCEL has participated in 60+ utility-scale energy storage projects across Japan. Through collaboration with multiple major regional power utilities and integration with 10+ local EMS platforms, the company has established a strong foundation for supporting grid-scale energy storage applications across the Japanese market.

To support continued growth, SINEXCEL has completed the legal registration of its Japan subsidiary in Tokyo. The company has established a local spare-parts warehouse and built a Japan-based sales, pre-sales, and after-sales service team to provide responsive support throughout the project lifecycle.

Globally, SINEXCEL has deployed more than 17GW of energy storage capacity across over 5,000 projects and works with more than 600 partners in 60+ countries and regions.

The report, AI Readiness: Building the Bridge from Higher Education to Work, surveyed more than 2,700 students, educators, and employers across six countries. It identifies six structural friction points — in curriculum pace, governance, faculty readiness, education-employer alignment, and hands-on AI experience — that compound across the path from classroom to career. Pearson and AWS presented the findings at the Pearson Higher Education Forum at the JW Marriott Jakarta.

For Indonesia, the timing is pointed. Graduate unemployment rose to 6.23 percent in early 2025 even as the national rate fell, and Universitas Indonesia researchers estimate tens of thousands more graduates have stopped looking for work altogether. Under the Merdeka Belajar framework, the IKU 1 metric ties university funding to graduate employment. Globally, entry-level postings are shrinking as AI takes over junior tasks — even as the World Economic Forum projects a net 78 million new jobs by 2030 for economies whose graduates are ready to fill them.

"As AI transforms the way we work, the skills that set people apart are becoming even more human. Clear communication, critical thinking, collaboration and adaptability remain essential – and AI can help learners develop them. Combined with English proficiency, these capabilities give people the confidence to participate in a global workforce and succeed in a rapidly changing world."
— David Lyons, Pearson's Head of Institutional Language Learning, APAC

The study's central tool is the AI Readiness Friction Framework, which lets a university find which of the six frictions — Pace, Connection, Capability, Governance, Experience, and Skills — bite hardest on its own campus. It comes with a self-assessment and concrete fixes for institutions and employers alike.

"The gap is not in access to tools. It is in the support that turns access into capability. The framework shows university leaders in Indonesia exactly where to act — and that is where the work begins."
— Eklavya Bhave, Pearson's Head of Higher Education, APAC

"The universities and employers that build credentialling bridges together now will define what workforce-ready means in this region for the next decade."
— Craig McFarlane, Pearson's Enterprise Learning & Skills Leader, APAC

The Jakarta launch is the first of a series, with country-level reports, and a Southeast Asia edition to follow. The full report and self-assessment are available at www.pearson.com/power-of-learning/ai-readiness.html.

Visit us at plc.pearson.com.

The seven-day FDA inspection conducted by three inspectors covered MFG8's quality management system and drug substance manufacturing processes. Passing this inspection further reinforces WuXi Biologics' outstanding regulatory compliance track record and demonstrates the company's robust and reliable quality system, proven GMP execution excellence, and integrated capabilities to support reliable global commercial manufacturing.

MFG8 is an important part of WuXi Biologics' global manufacturing network. Equipped with twelve 4,000L single-use bioreactors, the facility leverages WuXi Biologics' distinctive "scale-out" strategy to offer flexible commercial manufacturing at scales ranging from 4,000L to 20,000L. In addition, MFG8 incorporates the latest practices in sustainable construction and applies state-of-the-art technologies, including digital platforms and the rooftop photovoltaic system, to advance carbon reduction, resource reuse, and recycling.

Dr. Chris Chen, CEO of WuXi Biologics, commented: "MFG8's successful FDA Pre-License Inspection pass is a strong testament to WuXi Biologics' commitment to global quality and compliance standards. This PLI pass reflects our sustained investment in a world-class quality system and our proven capability to support partners in advancing global commercial manufacturing. We are pleased to help bring this potential blockbuster autoimmune therapy to patients through our high-quality manufacturing capabilities. Moving forward, WuXi Biologics will continue to empower global partners with a reliable quality system and accelerate the delivery of innovative biologics to more patients worldwide."

WuXi Biologics has consistently demonstrated a proven track record of adherence to the industry's rigorous quality standards. As of the end of 2025, it has successfully passed 46 regulatory inspections, including 22 conducted by the FDA and EMA, and secured 136 facility license approvals. The company also holds an industry-leading record, achieving a 100% pass rate for FDA Pre-License Inspection (PLI). In addition, WuXi Biologics has passed more than 1,800 GMP quality audits by global clients, including over 230 audits by EU Qualified Persons. Currently, the company operates 25 drug substance facilities and 18 drug product facilities within its global network. Its world-class quality and compliance capabilities underpin long-standing trust from clients worldwide.

For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

From left to right: Domenico Traverso, President, Fluid Conveyance Division, Danfoss Power Solutions; Professor Andrea Angelo Aurelio Amaduzzi, Board of Receivers; Professor Enrico Cotta Ramusino, Board of Receivers; Dr. Claudio Roberto Calabi, Board of Receivers; Kim Fausing, President and CEO, Danfoss Group; Daniel Winter, President, Danfoss Power Solutions; Jesper V. Christensen; Executive Vice President and CFO, Danfoss Group.

The acquisition supports the strategic focus to accelerate profitable growth in line with Danfoss' long-term strategy.

Alfagomma will become part of the Fluid Conveyance division, a core business within the Danfoss Power Solutions segment, creating a leading global player in fluid conveyance that strengthens the ability to serve customers globally.

"The acquisition of Alfagomma is a significant milestone for Danfoss and an important strategic step in executing our long-term strategy. By bringing together these two businesses, we form a leading global player in fluid conveyance, giving us complementary capabilities, greater scale, and the global presence needed to better serve all our customers and accelerate future growth. We are excited to welcome talented colleagues from a company we have long admired for its dedicated and competent people, strong customer partnerships, and industry-leading expertise and service," said Kim Fausing, President and CEO of Danfoss.

Founded in 1956, Alfagomma is a privately owned global manufacturer and distributor of hoses and fittings under the brand names ALFAGOMMA, Dunlop Hiflex, and Argus. The company's products are used in mobile hydraulics, industrial applications including mining and oil & gas, marine, shipbuilding, and other industries.

Alfagomma has a strong global presence with 28 production and assembly sites, about 4,500 employees, and sales of approximately EUR 600 million.

"Alfagomma is an excellent strategic fit for Danfoss Power Solutions. Our businesses are a perfect match, with limited overlap and significant opportunities to create value for customers around the world. By combining our technologies, manufacturing footprint, and global market presence, we will strengthen partnerships and expand our ability to support customers wherever they operate across mobile and industrial hydraulics and other industrial applications. Alfagomma comes with a great reputation and will add expertise in industrial applications such as oil & gas and mining where they truly excel. Most importantly, we are bringing together two teams with strong customer focus that share a strong passion for solving complex application challenges. We are happy to welcome the Alfagomma team to Danfoss Power Solutions," said Daniel Winter, President, Danfoss Power Solutions.

Danfoss Power Solutions' Fluid Conveyance division manufactures hoses and fittings for vehicles, aircraft, marine, mining, food and beverage, mobile and industrial equipment, and other applications.

"Alfagomma is one of the most respected names in our industry. By bringing together two businesses with complementary strengths, we are creating a leading global player in the hose and fittings industry with exceptional manufacturing, distribution, and strong application know-how. This combination strengthens our ability to support customers globally and creates a strong platform for sustainable, long-term growth," said Domenico Traverso, President, Fluid Conveyance, Danfoss Power Solutions.

The Board of Receivers of Alfagomma said in a statement:

"This transaction represents the successful outcome of a structured process aimed at preserving business continuity and securing long-term value for Alfagomma and its stakeholders. In Danfoss, we have found the right, important industrial partner: a family-owned, leading global company that shares its values and long-term vision, with a clear commitment to strengthen the operations, support the industrial base, and ensure stability, growth, and continued investment in the people, capabilities, and operations of Alfagomma. We consider that this is the best possible outcome for the company, its employees, customers, and suppliers, and for the industrial communities in which Alfagomma operates. In our role of receivers appointed at the end of May 2025, we believe that we have fulfilled our mandate, including from a timing perspective, aimed at providing Alfagomma with a future of continuity and growth."

The acquisition is subject to necessary approvals. It is expected to be fully completed by Q4 2026. Until closing, both companies will continue to operate independently, with a strong focus on business continuity, stability, and delivering the high level of service customers expect.

For now, it is business as usual and we will focus on serving our customers as we always do as both companies prepare for the next chapter together.

The renewal ensures the continued supply and joint engineering of a comprehensive range of lubricants designed for commercial vehicles. From advanced engine oils to transmission fluids, brake fluids and coolants, PLI and IVECO will continue to formulate solutions specifically engineered to meet the demanding operational requirements of IVECO's commercial vehicle portfolio across Europe.

A Legacy of Technical Excellence

This milestone reflects the sustained success of the co-branded IVECO URANIA engine oils and IVECO TUTELA technical fluids, developed through decades of joint R&D and a shared commitment to delivering high-performance, energy-efficient solutions that maximise vehicle uptime and extend component life. The ranges are also the only fluids recommended by IVECO.

The partnership's rapid pace of innovation was recently highlighted by the launch of Urania Next 0W-16. This breakthrough –the first SAE 0W-16 engine oil developed specifically for heavy-duty applications – delivers exceptional fuel efficiency, reduced CO₂ emissions, and extended oil drain intervals. Furthermore, the formulation is Euro 7 ready, supporting improved efficiency and emissions performance for IVECO's latest generation of engines.

Domenico Nucera, Chief Quality & Operations Officer, Iveco Group, commented, "The renewal of the agreement with PETRONAS Lubricants International confirms the strength of a long-standing collaboration built on shared technical expertise and a common ambition to continuously improve performance, efficiency, and sustainability across our vehicle and powertrain portfolio. Through the co-engineering of our IVECO URANIA and IVECO TUTELA ranges, we are able to deliver solutions that maximise vehicle uptime, optimise total cost of ownership, and support our customers and dealer network with the highest standards of quality and reliability."

Driving Dealer and Customer Value

The renewed agreement also places a strategic focus on the IVECO dealer network. Beyond providing cutting-edge products, PLI will implement targeted initiatives aimed at strengthening dealer engagement and reinforcing customer awareness of IVECO's officially approved lubricants. These initiatives are expected to support dealer business growth across European markets, while helping customers benefit from enhanced vehicle reliability and optimised total cost-of-ownership.

Domenico Ciaglia, Group Chief Strategy & Transformation Officer of PETRONAS Lubricants International (PLI), said: "This partnership renewal demonstrates what can be achieved through a long-term forward-thinking collaboration, with consistency, and a shared commitment to excellence. Through continuous product innovation, we have been able to co-develop market-leading solutions such as the Urania Next 0W-16 engine oil formulation, seamlessly integrated into IVECO's ecosystem. This collaboration enables us to deliver greater value to the industry by combining our expertise and driving innovation together.

Looking ahead, PETRONAS Lubricants International remains fully committed to supporting the IVECO Group with forward integrated reliable, high-performance products and solutions that create lasting value for its network and customers.

This renewed collaboration further reinforces the foundation of PLI's broader strategic roadmap, demonstrating how technical excellence and trusted partnerships can drive sustainable, long-term value internationally."

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

For more information, please visit www.pli-petronas.com.

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