Revenue and profit grew in tandem

In Q1 2026, Viettel Global posted $483.46 million in net revenue from sales and service provision, registering an increase of 30 per cent on-year. Over 17 consecutive quarters, Viettel Global has maintained double-digit revenue growth, about 4–6 times higher than the global telecommunications growth rate.

For the past 10 consecutive quarters, the company has sustained revenue growth above 20 per cent on-year. Q1 2026 marked its highest growth rate on record, further pushing Viettel Global's revenue to new highs.

The company's pre-tax profit reached $133.85 million, surging 166 per cent from a year ago. Consolidated after-tax profit stood at $89.62 million, representing a 471 per cent increase, contributing to optimising cash flow and increasing profit margins for Viettel Global.

By steadily expanding its presence and understanding local cultures in challenging markets, the company has built its sustainable competitive advantage, laying the groundwork for advancements in technology services in the coming period.

Business targets and dividend plan for 2026

In 2026, Viettel Global’s growth strategy is underpinned by four parallel drivers: bolstering traditional telecommunications, accelerating digital services, exploring new business areas, and researching market expansion in potential regions.

Previously, 2025 opened up a new promising chapter when Viettel Global aggressively diversified its business sectors beyond traditional telecommunications to unlock its growth potential. The company rolled out logistics services in Laos while stepping up surveys and calculations for solar power ventures in Mozambique and Myanmar to optimise existing infrastructure resources. Notably, the digital and financial service segment made a breakthrough with the launch of NatTransfer in Haiti – specialising in remittance service.

In Q2 2026, Viettel Global will roll out logistics services in Cambodia and continue to research and implement this model in Myanmar.

Regarding the profit distribution plan, the company plans to spend over $386.15 million to pay cash dividends to shareholders in 2025. The payout ratio is expected at 33 per cent, equivalent to 13 cents per share. This high dividend payout demonstrates Viettel Global's commitment to sharing its business earnings with investors.

Viettel Global records 22 per cent Q1 revenue growth Viettel Global on May 5 revealed revenue growth of 22 per cent via its audited consolidated financial report for the first quarter of 2025.

Viettel Global posts Q2 net profit of $91.14 million Viettel Global (VGI) released its consolidated financial statement for the second quarter of 2025 on July 29, highlighting continued impressive growth in both revenue and profit.

Viettel Global achieves record revenues and profit Last year Viettel Global (VGI) recorded its highest-ever revenues and profit.

In Q1 2026, MSN posted net profit after tax before minority interest (NPAT Pre-MI) of VND1.97 trillion ($75.77 million), doubling on-year. Consumer-retail earnings before interest and taxes (EBIT) rose to $94.62 million, up 23.6 per cent on-year, reflecting broad-based growth across the platform.

Q2 2026 preliminary momentum indicates MSN is on track to grow NPAT Pre-MI by approximately 60 per cent on-year.

WinCommerce (WCM) – the company operating the WinMart/WinMart+/WiN chains – delivered NPAT Pre-MI of $7.85 million in Q1 2026, up 3.5 times on-year, equivalent to a 1.8 per cent margin. The result is driven by higher store traffic, disciplined network expansion and operating leverage.

WCM recorded a net addition of 225 new store openings for Q1 2026, bringing the total store count to 4,817 nationwide. Notably, 100 per cent of new store openings surpassed store‑earnings before interest, taxes, depreciation and amortisation breakeven level within the quarter.

Like-for-like (LFL) growth across all formats was primarily driven by higher store traffic (bill count) as modern trade penetration accelerates. Among them, minimarts delivered LFL growth of 11.8 per cent on-year in Q1 2026, up from 8.6 per cent in Q1 2025.

Supermarkets delivered LFL growth of 19.9 per cent on-year for Q1 2026, up from 6.1 per cent in Q1 2025, supported by renovations that lifted store traffic. Supermarkets also achieved EBIT-positive with 3.5 per cent margin, up 386 per cent on-year points (bps) on-year. As of March 2026, 60 supermarkets have been renovated, with the remainder on track for completion by year-end.

Masan Consumer’s Q1 2026 revenue reached $325.77 million, up 13.1 per cent on-year, while NPAT Pre-MI reached $69.23 million, up 11.5 per cent on-year.

Retail Supreme demonstrated clear improvements across key execution metrics as March 2026. First, active selling outlets reached approximately 500,000, up 2.3 times compared to before Retail Supreme. Second, stock keeping unit per order reached 5.5 (up 17 per cent) while approximately 57,000 outlets now carry around six or more categories, up 2 times. Third, approximately 50,000 outlets are implementing MCH’s in-store execution standards, up 1.8 times.

Masan Consumer's gross margin was stable at 46.7 per cent on-year.

Masan MEATLife (MML) delivered revenue of $95.38 million in Q1 2026, up 19.8 per cent on-year, with NPAT Pre-MI of $5.65 million, up 27.2 per cent on-year. EBIT grew on-year to a 7.4 per cent margin, up 450 bps on-year, as both fresh and processed meat benefited from improved economies of scale and higher porker utilisation. Total MML sales at WCM grew 30.2 per cent on-year.

Phuc Long Heritage posted net revenue of $21.88 million in Q1 2026, up 34 per cent on-year. The EBITDA margin reached 20.8 per cent while NPAT Pre-MI grew 1.6 times on-year to a 10.3 per cent net margin, up 260 bps on-year. Growth was driven by delivery scaling and stronger in-store productivity gains, with LFL average daily sales in standard-format stores reaching $1,011.54, up 21.2 per cent on-year.

Masan High-Tech Materials (MSR) delivered a record quarterly NPAT of $20.65 million in Q1 2026, compared with a $8.54 million loss in Q1 2025, supported by stronger commodity pricing, improved operating performance, and lower net interest expenses.

Net revenue reached $115 million, up 114.9 per cent on-year, led by APT revenue of $94.23 million, up 3.2 times on-year. APT averaged $1,865/mtu in Q1 2026 and reached $3,150/mtu as of March 31, 2026, compared with MSR’s revised 2026 budget assumption of approximately $1,200/mtu. In the event current price levels are sustained for the rest of the year, MSR expects to achieve materially better financial results.

Throughput is expected to recover from Q2 2026 and ramp further in Q3 2026 following the amendment of the 28-million-tonne mining licence, with full-year ore processed projected to exceed FY2025 levels.

MSR is expected to generate stronger operating cash flow and accelerate deleveraging, with revised guidance indicating net-debt-to-EBITDA declining from 3.5 times in Q1 2026 to 1.7 times by year-end.

Assuming APT prices average above $1,500/mtu, MSR targets net-debt-to-EBITDA of 0.1 times by end-2027, and conservatively net cash position by end-2028, which would create room for lower interest expenses, higher earnings quality, and potential dividend payments in the upcoming years.

Masan has announced plans to migrate MSR to the HSX mainboard, aiming to enhance value recognition, broaden the shareholder base, improve liquidity, and support strategic investor engagement.

MSN’s profit share of Techcombank in Q1 2026 was $50.77 million, up by 11.8 per cent on-year.

Building on a record Q1 2026, MSN’s revenue and NPAT Pre-MI are estimated at $1.98 billion and $176.92 million in the first half of 2026, up 38 per cent and 76 per cent on-year, respectively.

Masan posts steady gains as Vietnam targets stronger retail growth Vietnam’s push for stronger retail growth by 2030 is being matched by improving performance in the country’s major consumer groups.

Masan Consumer lifts foreign ownership limit to 100 per cent On March 18, the State Securities Commission announced that it had received Masan Consumer Corporation’s application to double its foreign ownership limit to 100 per cent.

Masan High-Tech Materials plans HSX listing Masan High-Tech Materials has released documents for its 2026 AGM, slated to take place in Hanoi on April 16.

Derived exclusively from FortiGuard Labs telemetry, the latest annual report is a snapshot of the active threat landscape and trends from 2025, including a comprehensive analysis across all tactics used in cyberattacks, as outlined in the MITRE ATT&CK framework. The data reveals that cybercrime no longer functions as a series of isolated campaigns–it operates as a system, with malicious hackers operating across an end-to-end life cycle and compressing the attack life cycle with shadow agents.

“Cybercrime is one of the world’s most pervasive and costly threats, and our latest Global Threat Landscape Report reveals how malicious actors are beginning to leverage agentic AI to execute more sophisticated attacks,” said Derek Manky, chief security strategist and global vice president of Threat Intelligence at Fortinet FortiGuard Labs.

“As cybercriminals increasingly use AI to bolster their tactics, cyber defenders must evolve cybersecurity operations into an industrialised defence and adopt AI-enabled tools that respond at the same velocity as modern threats.”

Modern cybercrime crosses borders and sectors, and even traditional definitions of crime itself. As attacks grow more sophisticated and interconnected, key findings from the latest FortiGuard Labs Global Threat Landscape Report highlight several critical trends.

Velocity defines risk as time-to-exploit (TTE) shrinks. As AI accelerates reconnaissance, weaponisation, and execution, FortiGuard Intelligence shows that TTE as 24–48 hours for critical outbreaks, a sharp increase from earlier reports that revealed a TTE of 4.76 days. Real-world incidents reflect how minutes can define outcomes: Active exploitation attempts were made within hours of the React2Shell vulnerability public disclosure.

Ransomware victims skyrocket, with FortiRecon adversary intelligence identifying 7,831 confirmed ransomware victims globally, skyrocketing from approximately 1,600 identified victims. Availability of crime service kits like WormGPT, FraudGPT, and BruteForceAI contributed to this 389 per cent increase on-year. The top three targeted sectors include manufacturing (1,284), business services (824), and retail (682). Geographic concentration includes the US (3,381), Canada (374), and Germany (291).

Identity sprawl defines cloud exposure. FortiCNAPP intelligence confirms that throughout 2025, most confirmed cloud incidents originated from stolen, exposed, or misused credentials rather than from infrastructure exploitation. Sector analysis shows hospitals/physician clinics and retail establishments as the number one target. Large identity populations, federated access models, and complex cloud integrations make these prime targets for malicious hackers.

The report projected that the most capable threat groups function as semi-autonomous enterprises, supported by shadow agents, access brokers, and botnet operators who provide services on demand.

One of the key findings is that shadow agents reduce operator skill requirements while increasing workflow speed. FortiRecon dark web signals captured AI-enabled offensive tooling advertised as services and products, including enhanced versions of WormGPT and FraudGPT, and novel services like HexStrike AI, an offensive AI tool with automated reconnaissance attack path generation; and BruteForceAI, a penetration testing tool that integrates large language models (LLMs) for intelligent form analysis and can execute sophisticated multi-threaded attacks.

With AI, criminals work smarter, not harder. FortiGate IPS telemetry recorded a 22 per cent decrease in brute force attempts on-year, pointing to efficiency gains: With optimised, intelligent brute force techniques, threat actors are making fewer attempts against better-selected targets, increasing success probability per credential tested. This activity translates into about 67.65 billion brute force events globally, with approximately 185 million attempts per day; 1.3 billion attempts per week; and 5.6 billion attempts per month. At the same time, intelligence revealed a 25.49 per cent increase in global exploitation attempts on-year.

Stolen datasets are more popular than leaked credentials. In the 2025 Global Threat Landscape Report, FortiGuard Labs observed a 500 per cent increase in logs available from systems compromised by infostealer malware. In 2026, FortiRecon intelligence found an additional 79 per cent increase and revealed a shift towards theft of more comprehensive data sets, enabled by agentic AI. Within dark web “database” activity, stealer logs dominated advertised and shared datasets (67.12 per cent), exceeding combolists (16.47 per cent) and leaked credentials (5.96 per cent). Stealer logs reduce attacker effort by bundling identity material with contextual artifacts, including browser-resident data, enabling immediate replay and faster conversion than brute force or password spraying.

Another finding is that credential-stealer malware persists. Credential-stealer malware remains a lucrative industry and primary upstream engine for exposure generation. FortiRecon telemetry shows stealer activity dominated by RedLine: 911,968 infections (50.80 per cent); Lumma: 499,784 (27.84 per cent); and Vidar: 236,778 (13.19 per cent).

Fortinet is committed to disrupting cybercrime by collecting and sharing threat intel and actively working to combat cyberthreats on a global scale.

A recent collaborative effort spearheaded by Interpol and supported by Fortinet through the World Economic Forum Cybercrime Atlas resulted in the takedown of a cybercriminal network. Operation Red Card 2.0 took down infrastructure and operators behind online scams, mobile money fraud, and fraudulent loan applications in Africa.

Fortinet is a founding member of the Cybercrime Atlas, a global public-private collaboration effort hosted by the World Economic Forum that uses open-source intelligence to map cybercriminal networks, identify infrastructure vulnerabilities, and support joint disruption operations with law enforcement, such as the recent Operation Red Card 2.0 and Operation Serengeti 2.0.

The 2026 Global Threat Landscape Report reveals that incentivising the disruption of cybercrime has never been more important. To empower defenders to stay ahead of cybercriminals, Fortinet and Crime Stoppers International launched the Cybercrime Bounty programme to provide a secure, anonymous channel for citizens and ethical hackers to submit information about cyberthreats.

Detection gaps widen as AI-fuelled attacks reshape cybersecurity in the region Fortinet, the global cybersecurity leader driving the convergence of networking and security, on June 3 announced the findings of a new IDC survey that reveals a sharp escalation in both the volume and sophistication of cyber threats across Asia-Pacific.

AI adoption in cybersecurity surges across Vietnam Fortinet has announced the findings of a 2025 IDC survey highlighting how organisations across Vietnam are adopting AI as the front line of their cyber defence strategy.

Cyberthreats targeting the 2025 holiday season FortiGuard has analysed data from the past three months to identify the most significant patterns shaping the 2025 holiday cyber-threat risks.

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

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

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

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

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

1. Ministry of Education Singapore Graduate Employment Survey - https://data.gov.sg/datasets?resultId=d_3c55210de27fcccda2ed0c63fdd2b352&topics=education
2. Private Education Employment Survey - https://www.ssg.gov.sg/resources/pei/pei-ges/private-education-institution-graduate-employment-survey-2024-2025
3. Full-time employment opportunity falls to 79.5% for fresh graduates in S'pore - https://hrsea.economictimes.indiatimes.com/news/industry/full-time-employment-opportunity-falls-to-79-5-for-fresh-graduates-in-spore-survey-finds/118531408?
4. SIM Career Service - https://www.sim.edu.sg/degrees-diplomas/life-at-sim/career-services
5. SIM Internship & Employment Opportunities - https://www.sim.edu.sg/alumni/internship-and-employment-opportunities

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

EcoVadis evaluates companies across environment, labour and human rights, ethics, and sustainable procurement. The Gold rating reflects Meiyume\'s strong performance and continued commitment to embedding sustainability across its supply chain.

A supplier\'s commitment to sustainability is increasingly important to brands, as they work to meet rising regulatory requirements and evolving consumer expectations for transparency and responsible practices. In this landscape, choosing the right partners is essential. Partners like Meiyume play a key role in enabling more responsible, future-ready solutions while helping to strengthen sustainability standards across the supply chain.

A Holistic Sustainability Strategy: Meiyume\'s 5Ps Framework

Meiyume\'s sustainability approach is guided by its 5Ps framework: Product, Process, Places, People, and Principle, ensuring a comprehensive integration across the business:

Product – Advancing sustainable innovation in formulations and packaging

Process – Strengthening responsible sourcing and supply chain practices

Places – Enhancing operational efficiency and environmental performance

People – Fostering an inclusive and supportive workplace

Principle – Upholding strong governance and compliance standards

Sustainability as an Ongoing Journey

While the EcoVadis Gold rating marks an important milestone, Meiyume views sustainability as an ongoing journey. The company remains committed to strengthening its sustainability performance and supporting beauty and personal care brands in achieving their sustainability goals.

What is CPNP and Why Does It Matter to Thai Consumers?

The Cosmetic Products Notification Portal (CPNP) is the European Union's mandatory cosmetic product notification system, requiring rigorous safety assessment before market entry. It is widely regarded as one of the world's strictest cosmetic regulatory frameworks.

Following the recent UV protection issue, Thai consumers have voiced growing skepticism about the actual UV protection efficacy of the sunscreens. COSRX addresses these concerns with a scientifically validated solution that has become a European favorite - conquering a region renowned for the highest global standards in sun protection.

Why is COSRX Sunscreen Ideal for Thailand's Climate?

According to the Thai Meteorological Department, the average UV Index in Bangkok measures 11+ (Extreme) year-round, while major urban centers like Khon Kaen, Hat Yai, and Nakhon Ratchasima experience similarly intense UV exposure throughout the year.

COSRX Ultra-Light Invisible Sunscreen SPF50 PA++++ is engineered for these conditions:

• Watery, lightweight texture that absorbs quickly without stickiness
• Aloe Vera and Witch Hazel soothe the skin
• Zero white cast - suitable for all skin tones
• Clinically proven cooling effect that instantly reduces skin heat and redness by 86.32%

Who Recommends COSRX in Thailand?

The product has been endorsed by Thailand's most authoritative skincare voices:

• @ingck – Recognized for ingredient-focused skincare reviews and hands-on testing
• @eb.bahboh - A highly respected medical doctor and creator offering science-backed dermatological expertise

Both have confirmed the product's efficacy, protection, and suitability for Thai skin after extensive personal use.

Consumers in Thailand can explore COSRX Ultra-Light Invisible Sunscreen SPF50 PA++++ and the broader COSRX suncare range through the brand's official stores on TikTok Shop Thailand and Shopee Thailand. Purchasing through official channels helps ensure product authenticity and access to the latest brand information.

Experience the UK's No. 1 and Europe's favorite sunscreen choice and explore the full COSRX range at the Official TikTok Shop Thailand and Official Shopee. COSRX is also on TikTok + Shopee.

Frequently Asked Questions (FAQ)

Q1. What does EU CPNP registration mean?

A1. EU CPNP registration means the product has been notified through the European Union's Cosmetic Products Notification Portal before being placed on the EU market. It is part of the EU's regulatory framework for cosmetics.

Q2. What proof supports the product's consumer popularity in Thailand?

A2. As of April 29, 2026, the product holds a 4.9-star rating across Shopee and TikTok Shop Thailand, with more than 16,000 verified reviews.

Q3. Why is COSRX Ultra-Light Invisible Sunscreen SPF50 PA++++ suitable for Thailand's climate?

A3. It delivers uncompromising, heavy-duty UV defense (SPF50 PA++++) to combat Thailand's intense sun, without sacrificing daily comfort. Even in hot and humid weather, its watery, lightweight texture absorbs quickly, feels breathable on the skin, and leaves absolutely no white cast.

Q4. Does this sunscreen leave a white cast?

A4. No. COSRX Ultra-Light Invisible Sunscreen SPF50 PA++++ is designed to deliver an invisible finish without leaving a noticeable white cast on skin.

Q5. Is this product registered in Thailand?

A5. Yes. Thai FDA Registration No. 10-2-6700013181.

Q6. Where can consumers buy authentic COSRX Ultra-Light Invisible Sunscreen SPF50 PA++++ in Thailand?

A6. Authentic products are available through COSRX's official stores on Shopee Thailand and TikTok Shop Thailand.

The updated aPower builds on the company's established platform, increasing usable capacity from 13.6 kWh to 15 kWh and raising warrantied throughput from 43 MWh to 60 MWh, an increase of 40 percent. These updates deliver more usable energy over the life of the system while maintaining the same footprint and price.

"The energy landscape is shifting quickly, and more homeowners are thinking beyond the upfront specs to what really pays off over time," said Steve Ruskin, General Manager of FranklinWH Australia. "This upgrade is about delivering more performance over the life of the system, more usable energy, greater throughput, while staying true to our 'buy once, buy right' philosophy."

The increase in warrantied throughput translates into savings for homeowners. Based on typical usage patterns and an electricity rate of A$0.35 per kilowatt-hour, the additional throughput may represent up to approximately A$5,950 in value over the lifetime of the system. The increase in usable capacity also improves energy density, lowering the effective cost per kilowatt-hour and supporting more efficient use of stored energy.

The 15 kWh configuration also aligns with current and upcoming policy frameworks benefitting residential battery adoption. This includes the updated Cheaper Home Batteries Program, with changes coming into effect for Australian homeowners from 1 May, 2026, helping households maximise value as incentives continue to evolve.

As the residential battery market expands, FranklinWH continues to focus on reliability and system performance. The aPower incorporates design elements to support durability, including structural reinforcement to reduce cell stress over time, per-cell temperature monitoring, and the separation of the battery pack and control systems to maintain reliable performance.

"We believe performance should be measured over years, not just at installation," Ruskin added. "We focus on building systems that deliver consistent, reliable results over time. That long-term perspective is what ultimately defines value for homeowners."

The aPower is designed to operate as part of the FranklinWH System, an integrated home energy management platform that coordinates energy generation, storage, and consumption. The system is designed to optimise multiple energy inputs, provide reliable backup power, and support more efficient and independent energy use at the household level.

The upgraded Intelligent Healthcare zone brings together 50 companies presenting a full spectrum of intelligent medical solutions, spanning AI-powered diagnostics, surgical robotics, and next‑generation eldercare technologies. Exhibits highlight how medical devices are becoming smaller, more precise, and increasingly non‑invasive. Capsule endoscopy systems demonstrate how gastrointestinal screening can be completed without discomfort, while AI‑enabled traditional Chinese medicine analyzers compress the inspection and inquiry process into minutes. Wearable glucose monitors make chronic disease management easier and more convenient.

Robotic technologies play a prominent role as well. Endoscopic and orthopedic surgical robots showcase enhanced precision through integrated human‑machine coordination, while bionic prosthetic hands use non‑invasive myoelectric sensing to independently control each finger. Intelligent rehabilitation systems, including lower‑limb exoskeletons and hand‑training devices, provide consistent support for patients recovering mobility. Companion‑style eldercare robots, equipped with monitoring and telemedicine functions, signal the rise of integrated home‑based health services.

The debuting Functional & Technical Fabrics zone highlights how the traditional textile industry is moving toward higher-end and smarter products. Exhibitors present materials that combine multi‑layered performance with intelligent responsiveness. Textiles featuring temperature‑regulating fibers, phase‑change materials, and light‑ or heat‑sensitive color‑shifting effects illustrate how fabrics are evolving into adaptive platforms capable of responding to environmental conditions.

Sustainability emerges as a defining theme. Bio‑based fibers, degradable films, recycled polyester, and organic cotton reflect a shift from isolated eco‑products toward full‑chain green manufacturing. High‑performance outdoor and protective applications further shape the narrative. Materials engineered for waterproof breathability, UV resistance, flame retardancy, and long‑term durability address rising demand across sportswear, professional protection, and medical environments. Smart textiles with embedded health‑monitoring modules demonstrate how apparel is beginning to function as a continuous wellness interface.

Both technology‑driven healthcare and advanced textiles are converging around a shared pursuit of a better life. As these advancements continue to evolve, they reflect a manufacturing landscape increasingly shaped by innovation, resilience, and a commitment to improving everyday living.

For pre-registration, please click: https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

The private equity industry understands this better than most. The days of pilots and promises are over, and the demand for hard proof (a.k.a. ROI) has begun. Is your revenue accelerating? Can you drive efficiency and profitability at the same time? What does long-term growth look like? These are the questions sitting across the table at every board meeting and investment committee, and the pressure is only intensifying.

This pressure has forced major PE firms to move aggressively to formalize their AI strategies, including exploring joint ventures with leading LLM companies. They're making a calculated bet on AI as the most powerful value‑creation lever the industry has seen in its history, and they recognize that the window to move is now.

The logic is unmistakable. PE firms don't run single businesses, they run portfolios. Which means AI playbooks that work don't just transform one company; they compound across ten, twenty, fifty, hundreds. A workflow reinvented once becomes a repeatable asset. A governance framework built once becomes portfolio infrastructure. That multiplier effect is native to how PE creates value, and it's what makes the intersection of private equity and enterprise AI one of the most consequential arenas in business right now.

The bet is a no-brainer. Execution is where it gets hard.

Here's what we know to be true: competitive advantage won't come from betting on a single LLM. It will come from building AI tailored to your business, shifting to a hybrid strategy that combines custom models, foundation models, and smaller specialized models, all grounded in an architecture that connects your data, your workflows, and your intelligence. In private equity, where the same playbook has to work across an entire portfolio, that distinction isn't academic. It's the difference between value that compounds and value that stalls.

We know this because we lived it. We turned our own operations into the proving ground, analyzing nearly 400 operational workflows and deploying AI solutions across more than 100 so far, coupled with AI governance and enablement.

The result was $4.5B in productivity gains from AI, hybrid cloud, automation and consulting expertise, and proof of what works.

We then took that proof and productized those validated workflows into IBM Enterprise Advantage, a first-of-its-kind asset-based consulting service that enables clients to build and operate their own tailored internal AI platform at scale.

With digital workers, prebuilt tools, and native governance, clients have a headstart rather than a blank slate. And because it's multi-model, they retain the freedom to shift as technology evolves. For private equity, that flexibility determines whether a company is an asset or a liability at exit.

We're bringing this same approach to private equity-backed companies, where the defining question is what changed and can you prove it.

• A major U.S. telecommunications provider is deploying digital workers and prebuilt AI tools from Enterprise Advantage to accelerate the migration of more than 150 critical applications, delivering measurable savings within two quarters.

• Working with a leading insurance administrator, IBM is using agentic AI to overhaul end-to-end claims processing, a function where a single claim can involve dozens of tightly regulated steps across multiple systems. AI agents now read and structure claim documents, perform compliance checks, assess eligibility, and route cases automatically, resulting in faster cycle times, fewer bottlenecks, and an operating model built to scale.

What private equity does here will ripple far beyond its own portfolios. When PE-backed companies deploy production-ready AI across the business, they reset competitive expectations for entire industries, forcing every competitor to respond. That is the Enterprise AI Race playing out in real time.

The choices made today will define portfolio performance for the next decade. Move too slowly and you're handing the advantage to every competitor who didn't. Move without discipline and you're betting the portfolio on a foundation that hasn't been proven. The firms that win will be the ones who understood that distinction early enough to do something about it.

Visit www.ibm.com for more information.

SIFA 2026's five programming pillars offer diverse ways to experience the arts: Festival Stage for large-scale productions, Festival Village at the historic Empress Lawn for open-access performances against the city's National Monuments, Festival Play!Ground for interactive works and parades, Festival House for family-friendly experiences, and Festival Late Nites for night-time programming. Offerings span the Civic District to Singapore's newest digital district, bringing the Festival into the heartlands.

SIFA 2026 brings together powerful artistic voices from Singapore and around the world:

• Last Rites by Liu Xiaoyi (Singapore) features theatre veterans from different cultures exploring themes of endings and legacy
• Salesman之死 by playwright Jeremy Tiang and director Danny Yeo (Singapore) reimagines Arthur Miller's 1983 Beijing production of Death of a Salesman, questioning cultural ownership in an interconnected world
• Strangely Familiar《熟悉的陌生》by T.H.E Dance Company (Singapore) features performers from the region exploring how culture, digital identities, and everyday norms intertwine in contemporary lives
• Noli Timere by Rebecca Lazier (Canada) with Janet Echelman (United States) combines contemporary dance and avant-garde circus in an aerial performance
• LACRIMA by Caroline Guiela Nguyen (France) explores the human world behind a fictional Parisian haute couture royal wedding commission
• Hedda Gabler stars Lee Hye-young (South Korea) in a contemporary reimagining of Ibsen's classic, exploring desire, frustration, and societal constraints
• Hamlet by Teatro La Plaza (Peru) features actors with Down syndrome, sharing their desires and frustrations through Shakespeare's tragedy
• The Lighthouse by Patch Theatre (Australia) beckons families to an immersive performance that is part installation, part scientific quest, part rave
• AUTOMATA, a late-night series curated by Hothouse (Singapore) explores ritual and machine bodies, featuring artists such as music producer Guzz (China)

For the full festival lineup and ticket sales, visit sifa.sg.

While 83% of Australian travellers say that more sustainable travel is important to them, older generations demonstrate greater commitment through concrete actions, despite younger generations often expressing stronger sustainability intentions.

• Older generations demonstrate greater commitment through concrete sustainable actions, with almost two–thirds of Boomers across Asia Pacific (63%) saying they will shop more at local, independent stores on their trips, three–quarters (75%) planning to reduce general waste, and 63% intending to reduce energy consumption, higher than Gen X, Millennials and Gen Z.
• However, younger travellers are leading in cultural and conservation management; more than a quarter of Gen Z (27%) and Millennials (26%) participated in a tour or activity that contributed to the health or conservation of the local ecosystem or wildlife.
• Extreme weather is actively reshaping travel choices. Nearly three-quarters of Australian travellers said they consider extreme weather risk when choosing both destination (72%), and timing (75%), and 27% reported having cancelled or changed trip plans in the past twelve months due to extreme weather or natural disaster.
• Australian travellers are shifting when and where they travel, seeking reliable climates and comfort. 43% say they plan to avoid overcrowded tourist destinations, 42% plan to travel outside of peak season, and 26% will seek out destinations with cooler temperatures.
• In 2025, travellers booked more than 100 million room nights on Booking.com at accommodation partners with a third-party sustainability certification, including at 363 third-party certified Australian properties.

To find Booking.com's full 2026 research, visit here.

The campaign encourages families to bridge the gap between play and purpose through gaming. It showcases how digital play can foster deeper understanding, facilitate balanced routines, and build stronger connections at home.

"Digital spaces are already a natural part of how young people learn, play, and connect today," said Mr Murphy Zhao, Country Manager of Tencent Singapore and Head of Tech Group, Tencent Games. "As a company with deep expertise across digital entertainment and communications, we want to play a constructive role by helping families build meaningful digital habits that extend beyond the screen."

Advancing Family Digital Wellness In Partnership with IMDA

As part of the launch, IMDA and Tencent also signed an agreement to strengthen collaboration on initiatives in digital wellbeing. The agreement was signed by Ms Joanna Lam, Cluster Director for Digital Readiness, IMDA, and Mr Murphy Zhao, Country Manager of Tencent Singapore and Head of Tech Group, Tencent Games. The collaboration builds on Tencent's ongoing cooperation with IMDA, in support of the national Digital for Life (DfL) movement, focusing on promoting online safety and healthy digital habits among youths, parents, and families.

Tencent will co-develop educational content with IMDA, as well as organise four community outreach activities, reaching out to an estimated 4,000 participants. The company will also commit S$ 25,000, which totals to S$ 50,000 with the government's dollar-to-dollar matching, to the DfL Fund. The DfL Fund provides support for projects and activities promoting digital inclusion, digital literacy and digital wellness.

"Ensuring digital wellness is increasingly important, particularly for our children who are digital natives," said Ms Joanna Lam, Cluster Director for Digital Readiness, IMDA. "Tencent has been a DfL partner since 2022, and I thank them for their continued commitment to the DfL cause. We look forward to deepening our collaboration with Tencent to empower parents and youths with practical guidance to build healthy digital habits and navigate the digital world safely together."

Leading the Conversation on Healthy Digital Play

The inaugural Singapore launch event was officiated by Ms Jasmin Lau, Minister of State, Ministry of Digital Development and Information, and also hosted social service organisations from Singapore, Malaysia, Thailand, Indonesia, and the Philippines. At the event, families participated in gamified quiz experiences and took home educational materials designed to transform gaming into healthier routines at home.

The programme also featured a parenting talk that shared practical guidance on utilising games as a bridge for conversation at home. The session highlighted how, when guided by constructive routines, gaming can support the development of soft skills such as communication, teamwork, strategic thinking, and persistence.

During the event's expert insights session, Mr Narasimman S/O Tivasiha Mani, psychotherapist and co-founder of local youth charity Impart, said, "Healthy gaming is not built through one-off rules. It grows through rapport, shared understanding, and everyday conversations. Through a collaborative process between educators, families, and the wider community, it becomes easier to set shared expectations and support balanced habits that carry beyond the screen."

Building a Scalable Digital Wellbeing Framework for Southeast Asia

While digital habits may look different across the region, the underlying need is the same — helping families build healthier, more confident relationships with the digital world.

"Beyond the Screen" is part of Tencent's broader commitment to fostering intentional digital play, equipping youths, parents, and educators with practical resources to build balanced routines, encourage respectful interactions, and strengthen open communication at home.

Insights from the Singapore launch will inform the rollout of the campaign across Southeast Asia in 2026, with local adaptations to meet the needs of diverse communities in the region.

"XCMG's sustained ranking among the world's top three construction equipment manufacturers is a testament to our robust global footprint and long-term strategy," said Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery. "Our strong performance in 2025 marks a new chapter as we are now poised to deepen international collaboration, accelerate the shift toward green and intelligent machinery, and deliver enduring value to our partners and the global industry."

Backed by its latest annual report, released on April 28, XCMG reported solid growth in 2025, with operating revenue reaching RMB 100.823 billion (up 8.37% YoY), and maintained growth momentum into the first quarter of 2026. During the first three months of 2026, XCMG recorded RMB 29.791 billion in revenue, representing a 9.26% year-over-year increase.

International operations continue to be a primary growth engine for XCMG. In 2025, overseas revenue surged 16.58% year over year to RMB 48.599 billion, accounting for nearly half (48.20%) of the company's total revenue, a 3.39 percentage point increase from the previous year. Meanwhile, domestic revenue remained steady at RMB 52.224 billion, representing a modest 1.70% increase.

In 2025, XCMG reported a Parent Company Net Profit of RMB 6.572 billion (+8.96% YoY), while Adjusted Parent Company Net Profit reached RMB 6.550 billion, representing a robust 13.68% year-over-year increase. For the first quarter of 2026, profitability remained stable, with net profit and adjusted net profit reaching RMB 2.056 billion and RMB 2.024 billion, respectively.

XCMG also reported operating cash flow of RMB 14.142 billion in 2025, up 148.42% year over year. In the first quarter of 2026, operating cash flow reached RMB 2.152 billion, up 153.12% year over year. The company reported a gross margin of 22.61%, up 0.04 percentage points, and a return on equity of 11.00%, up 0.63 percentage points.

In 2025, XCMG maintained steady growth across its primary product categories. The company's focus on sustainable innovation drove new-energy revenue to RMB 13.30 billion (a 23.6% YoY increase). Meanwhile, traditional segments continued to provide a solid foundation, with earthmoving machinery generating RMB 30.131 billion, hoisting equipment contributing RMB 20.983 billion. Emerging segments continued to expand steadily, with the mining machinery division reporting RMB 9.377 billion in revenue.

XCMG is committed to expanding its global footprint by advancing green, intelligent equipment and strengthening a manufacturing ecosystem driven by digital transformation and industrial IoT. By continuously refining its product portfolio and service reach, the company ensures world-class support for its customers and partners worldwide.

PEP08 received clinical clearance in June 2025 and is currently in Phase I evaluation for solid tumors in Australia and the Taiwan region. The enrollment milestone underscores XtalPi's ability to deliver differentiated molecules with strong drug-like properties, while demonstrating the program's steady clinical advancement.

Leveraging XtalPi's integrated quantum physics-, AI-, and robotics-powered platform, PEP08 was designed to overcome the dose-limiting hematological toxicities seen with first-generation PRMT5 inhibitors. The molecule exploits an innovative MTA-cooperative binding mode to specifically target MTAP-deleted tumors—a genomic alteration found in 10-15% of all human cancers, with higher frequencies observed in NSCLC, pancreatic cancer, glioblastoma, and more. Preclinical data presented at 2025 AACR show PEP08 achieving superior efficacy compared to other clinical-stage MTA-cooperative PRMT5 inhibitors across multiple MTAP-deleted tumor models, supporting a potential best-in-class profile.

Driven by the success of PEP08 at the drug discovery stage, the partnership expanded into a second project. By combining PharmaEngine's deep oncology expertise with XtalPi's AI and robotics molecular design engine, the duo aims to capture additional market share in the synthetic lethality space.

Synthetic lethality is widely recognized as challenging yet highly promising frontier in oncology. According to Globocan and industry data, the global market is expected to grow from $4.2 billion to $17.6 billion by 2033, at a 17.3% CAGR. In recent years, several early-stage licensing deals in this space have exceeded $1 billion USD, further underscoring the immense clinical value and commercial appetite for this category.

The clinical advancement of PEP08 and the ongoing collaboration of the second project serve as a dual validation of XtalPi's AI+robotics discovery engine. By repeatedly meeting rigorous benchmarks in complex target spaces, XtalPi has built a reproducible innovation model that turns deep know-how into high-value clinical assets. Underpinned by a milestone-sharing structure, this model tightly aligns the platform's evolution with clinical success, quickly translating biological insights into tangible impact for partners and patients around the world.

Dr. Shuhao Wen, Chairman of XtalPi commented, "The clinical progress of PEP08 and the ongoing collaboration of the second project are testaments to the synergy between our teams, and highlights the reliability of XtalPi's R&D platform in tackling complex targets. We look forward to further applying this model to deliver high-quality pipeline assets for our partners and generate sustained value for our shareholders."

"PharmaEngine has been advancing its R&D capabilities, and our collaboration with XtalPi exemplifies our ability to harness innovative technologies to propel next-generation discoveries in precision oncology," said Dr. Hong-Ren Wang, CEO and President of PharmaEngine. "XtalPi's R&D platform played a key role in the early-stage discovery of PEP08, providing a robust foundation for its clinical entry. Our collaboration of PEP08 and the second project demonstrates our ongoing efforts to advance cancer treatment development worldwide.

As GAC's global strategic flagship, the AION UT continues to excel. In the pure electric hatchback segment, it ranks first in Hong Kong SAR, Colombia, Uruguay, and Singapore; second in Indonesia; and third in Thailand and Mexico. In Australia, the AION UT secured over 600 orders within its first pre-sales month.

Robust Regional Growth and Breakthroughs in Benchmark Markets

In Asia-Pacific, GAC secured 6,287 orders at the Bangkok International Motor Show. Monthly sales in Hong Kong SAR, Malaysia, and Indonesia surged by 503%, 900%, and 338%, respectively, while the AION UT officially launched in Australia. In Europe, the model debuted in Milan and commenced localized production with Magna in Austria, marking a critical step for GAC's "In Europe, for Europe" commitment. In Israel, AION entered the top 10 for EV sales just six months post-launch. Across the Americas, sales in Uruguay and Colombia skyrocketed by 775% and 1,007%. Concurrently, GAC continues expanding its sports marketing footprint by sponsoring top football clubs like Brazil's Flamengo and Bolivia's Oriente Petrolero.

Global Strategy Upgrade and Accelerated Eco-Expansion

At the 139th Canton Fair, GAC secured letters of intent for over 900 vehicles (approx. $10 million export value), demonstrating the strength of its "Technology + Ecosystem" model. The 2026 GAC International Partner Conference gathered 700 dealers from 87 countries, reinforcing the international sales network. At Auto China, GAC unveiled its 2030 Strategic Plan, aiming to enter 120 countries and establish over 2,000 overseas touchpoints. Leveraging a full-powertrain product matrix across its GAC, AION, and HYPTEC brands, the company targets one million annual overseas sales.

Transitioning from product exportation to deep-rooted global ecological integration, GAC is rapidly accelerating its journey toward the one-million-unit international milestone.

For further information about GAC, please visit: https://www.gacgroup.com/en or follow us on social.

The plant will process 150,000 cubic metres of river water per day, supplying improved access to treated water in rural and suburban parts of Phu Tho province including Hoa Binh ward and Luong Son commune and supplementing water supply for the west, southwest, and water-scarce areas, encompassing urban, industrial, and rural areas of Hanoi.

PIDG invested equity, technical assistance and provided bond guarantees through its solutions GuarantCo and InfraCo between 2024 and 2025. The plant is part of a two-component scheme with component 1 being the Hoa Binh-Xuan Mai water treatment plant, supplying raw and treated water to Phu Tho province, and component 2: Xuan Mai Hanoi being the construction of a clean water pipeline to Hanoi.

In total, PIDG has committed approximately VND333.61 billion (approximately $13 million) in equity, approximately $50 million in bond guarantees and $119,000 in technical assistance grants.

Nishant Kumar, head of coverage (Asia) and managing director of Asia Investments for GuarantCo at PIDG said, “Our partnership with AquaOne for the Xuan Mai initiative is special to PIDG as it speaks directly to our impact goals across impact on people, planet, wider economy and market transformation."

"PIDG provided a comprehensive, end-to-end funding solution, comprising equity, bond guarantee and technical assistance facility. This remains the longest tenor project bond issued in Vietnam and also the first green bond in Vietnam’s water sector. We believe that the venture has the potential to inspire many more transactions in Northern Vietnam.”

The project also received construction and operational support from PIDG’s Asset Management and Impact teams with a focus on international standards in compliance, as well as health, safety, environmental, and social (HSES) governance.

Pham Manh Hung, general director of Hoa Binh – Xuan Mai Clean Water Co., Ltd, said, “The inauguration of the Hoa Binh - Xuan Mai Water Treatment Plant is not only a significant milestone for us but also a testament to our relentless efforts in creating sustainable values. In this venture, our company is committed to strictly adhering to the highest international standards in management and operation. We place particular emphasis on the professional and methodical implementation of Health, Safety, Environment, and Social standards."

"Once operational, the project will directly supplement the water supply in Phu Tho province and Hanoi city. This will not only improve the quality of life for millions of residents through safe and clean water but also contribute significantly to the completion of technical infrastructure, thereby creating a solid foundation to drive regional economic growth and attract further investment.”

Connor Dawson, head of Asset Management for InfraCo at PIDG, said, “We are delighted to achieve this milestone with AquaOne ahead of schedule and in full compliance with local and international standards and regulations. Developing greenfield assets can be challenging as there are limited sources of reference, and many new or adapted standards that require adherence to. We are pleased that AquaOne’s experience in the water sector, coupled with PIDG’s detailed, safety-first approach to engineering, procurement, construction and financial oversight, has resulted in this successful collaboration.”

PIDG invests with AquaOne to expand Xuan Mai’s treated water supply to Hanoi Private Infrastructure Development Group (PIDG) has announced it will invest VND114.99 billion ($4.54 million) into Xuan Mai Hanoi Clean Water Transmission Limited Company.

Vietnam and South Korea cooperate on water security Vietnam's Minister of Agriculture and Environment Trinh Viet Hung and South Korea's Minister of Climate, Energy and Environment Kim Sungwhan on April 21 signed an MoU on water security.

TCP Vietnam collaborates with VNUS to promote water resource protection TCP Vietnam has announced it is carrying out a series of initiatives to raise awareness of water resource protection under a three-year project.

To advance this initiative, the two companies entered into a Business Cooperation Contract on March 10. Under this agreement, VNPT and KDDI aim to deliver a new mobile telecommunications service primarily targeting young consumers and digital-native users in Vietnam, leveraging KDDI's operational expertise gained through its online-only mobile brand "povo" in Japan, alongside VNPT's domestic telecommunications infrastructure, brand presence, and extensive customer touchpoints.

In Vietnam, the rapid adoption of smartphones and mobile communications has been accompanied by increasing diversification in consumer preferences and usage patterns. Demand among younger generations is growing for fully online experiences covering the entire customer journey–from contract sign-up to service usage and customer support. Expectations are rising for flexible pricing models, simple and intuitive user experiences, and services that are designed with online channels at their core.

In Japan, KDDI launched its online-only mobile brand "povo" in 2021. In collaboration with Singapore-based Circles, which has extensive expertise in online mobile services, KDDI developed the system architecture for the service. Operated by KDDI Digital Life Corporation, "povo" has established a new model for mobile communications by enabling customers to complete contracts, data top-ups, and support digitally, supported by agile service development and flexible pricing plans. By positioning online platforms and mobile applications as its primary customer touchpoints, "povo" has gained strong support, particularly among younger and digital-native users.

VNPT and KDDI believe that demand for online-centred telecommunications services will continue to grow in Vietnam. By combining VNPT's robust domestic telecommunications infrastructure and customer reach with KDDI's know-how from operating "povo" in Japan, the two companies aim to create new value and deliver innovative mobile services to Vietnamese customers.

VNPT will encourage the development of the new sub-brand business by leveraging its telecommunications business infrastructure, brand strength, and customer touchpoints within Vietnam. Meanwhile, KDDI together with Circles will contribute its expertise in digital telecommunications services developed through the launch and operation of the online-only brand "povo," providing know-how in the areas of service design, customer experience, digital marketing, and platforms.

Japan's Meiko Electronics to construct a new plant in Vietnam Japanese electronics supplier Meiko Electronics will build a new plant to manufacture printed circuit board in Vietnam.

Japanese food giant chooses Vietnam for ready-mix flour production Showa Sangyo – the Japanese company credited with inventing the world’s first tempura flour – has launched a $21 million factory in Ho Chi Minh City, positioning Vietnam as a core market for expansion across ASEAN.

Vietnam and Japan sign cooperation agreements Vietnam and Japan will strengthen cooperation in green transition, digital transformation, AI, and semiconductors, with priority given to high-quality human resource training and joint research.

Vietnam and Japan exchanged six cooperation agreements as part of the official visit to Vietnam by Japanese Prime Minister Takaichi Sanae from May 1-3.

They combine the loan agreement for an initiative on disaster resilient rural development between the Vietnamese government and the Japan International Cooperation Agency (JICA); and the loan agreement for the project on climate resilient infrastructure development to support production for ethnic residents in northern mountainous provinces between the Vietnamese government and the JICA.

The two parties also signed an MoU on cooperation in low-carbon growth regarding the Joint Credit Mechanism.

Another thing is the MoU on cooperation in technological and technical exchanges in the hydraulic field between the Department of Hydraulic Works Management and Construction under the Ministry of Agriculture and Environment of Vietnam and the Rural Development Bureau under the Ministry of Agriculture, Forestry and Fisheries of Japan.

Furthermore, the Ministry of Science and Technology of Vietnam and the Ministry of Internal Affairs and Communications of Japan exchanged a MoU on cooperation in IT, communication, and digital transformation.

In addition, the Vietnam National Space Centre under the Academy of Science and Technology of Vietnam and the Aerospace Exploration Agency of Japan signed an agreement on satellite data exchange.

Along with the above cooperation agreements, the two sides agreed to target Japanese investment in Vietnam of $5 billion per year at an early date and bilateral trade of $60 billion by 2030.

They also agreed to encourage Japanese enterprises to invest in high-technology projects with technology transfer, to support Vietnamese businesses investing in Japan, and to ensure market access for agricultural products.

Vietnam-Japan ties deepen as Tokyo expands skilled labour access The Japanese government has outlined adjustments to both the Specified Skilled Worker and Employment for Skill Development programmes, Vietnam’s Ministry of Home Affairs said on April 8.

Japan's Meiko Electronics to construct a new plant in Vietnam Japanese electronics supplier Meiko Electronics will build a new plant to manufacture printed circuit board in Vietnam.

FPT and CAC Holdings announce new joint venture in Japan FPT has partnered with a leading Japanese technology corporation to establish a joint venture driving regional digital transformation.

Japanese food giant chooses Vietnam for ready-mix flour production Showa Sangyo – the Japanese company credited with inventing the world’s first tempura flour – has launched a $21 million factory in Ho Chi Minh City, positioning Vietnam as a core market for expansion across ASEAN.

Fusion offers guests special deals to celebrate Vietnam’s April holidays Fusion Hotel Group in Vietnam offers various curated experiences to celebrate Hung Kings’ Commemoration Day and the upcoming April 30 holiday, whether guests prefer unwinding by a tranquil beach or immersing themselves in the vibrant rhythm of city life.

Parenting products have put a focus on smart, multi-functional design. An intelligent soothing pendant uses voice recognition to detect a baby's cry and automatically play music, while a self-rotating smart car seat improves convenience of use by automatic turning.

Further innovations emphasize convenience and integrated care. A wireless diaper-changing baby scale combines multiple functions for daily care and health monitoring, alongside an electric cradle and a one-touch foldable crib that enable effortless setup and hands-free parenting.

Newly released products highlight the educational wooden toys sector's momentum. A miniature wooden kitchen set, crafted from FSC certified natural wood and coated with water-based paint, meets major international safety standards and supports early life skills development. Alongside it, an ocean themed multifunctional play table introduces a modular approach to early learning. Built from natural wood and finished with food grade coatings and rounded edges, the table integrates geometric cognition, musical exploration, and logic training. It represents a meaningful step in the evolution of traditional wooden toys toward more interactive early education tools.

Sustainability remains a defining thread across the category. A series of thick wooden puzzles illustrates how recycled materials can be developed into durable, affordable and educational products. Made with a significant proportion of medium‑density fiberboard derived from reclaimed wood fibers, the puzzles reflect efficient resource use while demonstrating how manufacturers integrate function, durability and cost‑effectiveness into their design considerations. Their handcrafted texture and cultural warmth further underscore a commitment to greener, more responsible production.

In an age shaped by AI and diversified consumption needs, traditional maternity and child product makers are finding fresh relevance. While preserving an emotional warmth, they are introducing smart interaction, joyful educational design, and greener materials, giving the classic category a modern spark and renewing its appeal for today's families.

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