Over 1.3 Crore Persons Insured through GeM in FY 2024-25 GeM facilitates hiring of 1 million people in FY 2024-25
Posted On: 16 APR 2025 10:53AM by PIB Delhi
Government e Marketplace (GeM), India’s largest e-marketplace for public procurement, sets yet another milestone in services delivery in the FY 24-25. Apart from facilitating hiring of 1 million manpower resources in FY 24-25, GeM has successfully facilitated insurance of more than 1.3 crore individuals covering Health, Life and Personal Accident Insurance policies.
The Insurance Services category was introduced on GeM in January 2022 to bring greater efficiency, transparency and cost-effectiveness in procuring insurance policies. By ensuring that only Insurance Regulatory and Development Authority of India (IRDAI) -approved service providers are onboarded. GeM has established a reliable and trusted mechanism for availing insurance services. Through this platform, buyer organizations can seamlessly procure Group Mediclaim, Personal Accident and Term Insurance policies, thereby offering financial security to a vast number of beneficiaries.
While commenting on this milestone, CEO-GeM Shri Ajay Bhadoo said, “GeM remains committed to continuously enhancing its platform to provide seamless, secure and cost-effective procurement solutions. The milestone of 1.3 crore insured persons reflects the growing confidence of government organizations in leveraging GeM for their insurance needs, reaffirming its role as a transformative force in public procurement.”
A key advantage of GeM’s insurance services is that it facilitates direct transactions between government buyers and insurance providers without intermediaries. This streamlined approach has significantly expedited the process while also reducing insurance premiums thereby ensuring cost savings for government organisations.
Beyond Life and Health insurance, the platform has expanded its insurance offerings to include a comprehensive range of insurance services such as Asset Insurance, Transit and Marine Insurance, Liability Insurance, Livestock Insurance, Motor Insurance, Crop Insurance and Cyber Insurance. Such broad spectrum of services ensures that various insurance needs are met through a single, transparent and efficient platform to enhance accessibility and cost-effectiveness in availing Insurance services by Government Buyers.
Source: Hong Kong Government special administrative region
Alexander (Chief Executive Officer Asia-Pacific, Europe, Middle East and Africa, and Germany of Deutsche Bank, Mr Alexander von zur Mühlen), Marco (Head of Emerging Markets of Deutsche Bank Private Bank, Mr Marco), Salman (Vice Chairman of Deutsche Bank Private Bank, Mr Salman Mahdi), distinguished guests, ladies and gentlemen,
Good morning.
It is a great pleasure to join you all at this year’s Deutsche Bank Emerging Markets Family Office Forum. My sincere thanks to Deutsche Bank for bringing to Hong Kong such a distinguished group of family principals, next-generation leaders and senior decision-makers from across the globe.
Stability, for family offices
While the focus today is on family offices, it would be remiss of me not to address a broader issue: that is, the so-called “reciprocal tariffs” imposed by the US (United States) on its trading partners. And why it further illustrates that Hong Kong is the right destination for family offices.
Much has been said about the flip-flopping of the Trump Administration and the prospects of the tariff war. For family offices, this uncertainty and unpredictability have added new complexities to their asset allocation strategies.
Currently, across the world, sovereign governments and investors are seeking to de-risk their allocations and expand their portfolios to markets that provide policy clarity, consistency and credibility. The same holds true for family offices looking to preserve and grow their wealth in a secure and predictable environment.
In this context, Hong Kong stands out as a robust destination of choice. Allow me to share a few observations.
First, our stock market. With a capitalisation of nearly US$5 trillion, it is deep and liquid, and has demonstrated remarkable resilience. Following the tariff announcements, the Hang Seng Index saw a sharp fall on Monday last week. But the market has since been regaining ground. Trading volumes have been high, indicating the strong underlying liquidity. Over the past week, the average daily turnover of our stock market was about HK$360 billion, about 2.8 times of that in 2024. That speaks volumes about investors’ interest and confidence in our market.
In fact, over the past few years, the Government, along with our financial regulators, have put in place a round-the-clock, cross-market surveillance system to detect and address potential threats associated with market volatility. We focus on whether the markets are functioning in an orderly manner, and whether there are irregularities or systemic risks that will threaten Hong Kong’s financial stability. So far, there has been no cause for concern.
Second, the Hong Kong dollar remains firm, trading on the strong side of its convertibility range, which indicates that there is no capital flight. Indeed, our bank deposits have been on a rising trend over the past year. In February, we had over US$2.2 trillion in bank deposits, rising by some 10 per cent compared to a year ago. Our Linked Exchange Rate System continues to function smoothly, underscoring the strength and stability of our monetary system.
Beyond financial security and stability, Hong Kong offers compelling reasons for family offices to anchor their operations and allocate their assets here.
First, it is the “one country, two systems” principle which provides the foundation for long-term prosperity and reinforces the IFC (international financial centre) status of Hong Kong. President Xi Jinping has reaffirmed on multiple occasions that the “one country, two systems” arrangement will remain in place in Hong Kong in the long run. Hong Kong’s unique position as a gateway between the Mainland and the world is highly cherished by the Central Authorities.
In essence, Hong Kong will continue to uphold the defining features that set us apart from the rest of China: a free port; free trade policy; free flow of capital, goods, people and information; and a freely convertible currency. We remain open, diverse, cosmopolitan and committed to welcoming capital, business and talent from around the world. This is deep in our DNA.
A crucial element of the “one country, two systems” principle is the common law system underpinned by an independent judiciary. Despite misconceptions about our city, the facts are convincing: in the World Justice Project’s Rule of Law Index, Hong Kong ranks ahead of the US and many European countries.
According to a recent survey by the American Chamber of Commerce in Hong Kong released in January this year, 83 per cent of its members expressed confidence in our rule of law. The figure has registered a consistent rise over the past two years.
Our simple, low-tax regime is another strong advantage. We impose no capital gains tax, no estate tax and no tax on dividends, offering a highly enviable environment for wealth preservation and growth.
Our international competitiveness is evident by various global rankings. We are the world’s freest economy, Asia’s top financial centre, and the fifth-most competitive economy globally.
Here in Hong Kong, your capital is safe. Protection of capital and private property is enshrined in our Basic Law. We honour our international obligations and have never implemented any sanctions unilaterally imposed by other jurisdictions.
Opportunities for investments and businesses
Ladies and gentlemen, beyond the above institutional fundamentals, Hong Kong is a city of immense opportunities. Let me highlight three points.
First, beyond the stock market that I mentioned earlier, we offer a full range of options for you to deploy your capital. Our venture capital and private equity sector manages over US$230 billion, which is second only to the Mainland. We are Asia’s No. 1 hedge fund base. Our asset and wealth management sector oversees close to US$4 trillion of assets, with over half of them sourced internationally.
Second, innovation and technology is powering Hong Kong’s next chapter. We are investing heavily to develop AI and other frontier technologies as new pillars of our economy. Our strategy encompasses building infrastructure, providing funding support, attracting strategic enterprises and talent, and engaging in international exchanges. Now, “AI+” is the name of the game, and we are working for its deep integration with various sectors and industries.
To nurture industries of tomorrow, the Hong Kong Investment Corporation Limited, or HKIC, was established with US$8 billion in capital. It is patient capital, focusing on deep tech, biotech and new materials, and new energy. It is guiding, channelling and leveraging market capital to support tech industries and segments at their nascent stages to help build the ecosystem. So far, the HKIC has supported over 100 projects, drawing in four dollars of private capital for every dollar it invested. We welcome family offices to form partnerships and co-invest with HKIC.
Third, Hong Kong’s synergistic development with the Guangdong-Hong Kong-Macao Greater Bay Area, or the GBA, which is home to 87 million people with a per capita GDP of US$40,000 on a purchasing power parity basis. It is a young and massive consumer market. The increasingly affluent population has a growing demand for quality financial products and services, and a need for diversified asset allocation.
The GBA is also a technology and innovation hub. Home to many tech giants and start-ups, the GBA has a highly educated workforce, and exceptional commercialisation and advanced manufacturing capabilities. In fact, Hong Kong, together with Shenzhen and Guangzhou in the GBA, is ranked the second most innovative cluster in the world for five consecutive years.
Overall speaking, the GBA is rising as a region combining the advantages of the New York Bay Area and San Francisco Bay Area.
Impact, philanthropy and living
Beyond investments, Hong Kong is also blessed with a vibrant, collaborative philanthropic community. Our financial institutions, businesses, think tanks, local and global foundations and NGOs (non-governmental organisations) have come together to form partnerships that deliver projects that are scalable, and socially and environmentally impactful.
And when it comes to lifestyle, Hong Kong is unmatched in Asia.
Over the past few weeks, the Hong Kong Rugby Sevens and Coldplay lit up our brand new Kai Tak Stadium. Indeed, from world-class performances and Michelin-starred dining to vibrant art, heritage and hiking trails, Hong Kong offers a lifestyle that global families would dream for.
This city also offers the best education for children. More than 50 international schools operate in this city, providing a wide range of curricula to meet the diverse needs of global families. Five of our universities are ranked within the global top 100.
And Hong Kong is among the safest metropolitan cities in the world.
Ladies and gentlemen, it is no surprise that Hong Kong is now home to over 2 700 family offices – half of which manage assets exceeding US$50 million. We expect that number to grow to 3 000 very soon.
To support this growth, we have introduced dedicated tax concessions for single family offices. We are currently working to expand the scope of exemptions and enlarge the eligibility for concessions. There is a bespoke service team under Invest Hong Kong to help family offices with their setup, compliance, talent sourcing, philanthropic engagement, and more. You are most welcome to approach them.
My thanks once again to Deutsche Bank for convening this meaningful Forum. I wish you all a productive forum and an enjoyable stay in Hong Kong – a city which I hope you will call home soon. Thank you very much.
Source: Hong Kong Government special administrative region
Following is a question by the Hon Chan Siu-hung and a written reply by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, in the Legislative Council today (April 16):
Question:
It is learnt that there are different organisations in Hong Kong (e.g. research and development centres, research institutes and statutory bodies) which are responsible for promoting and co-ordinating the development of innovation and technology (I&T), and among them, some are wholly owned by or established with funding support from the Government, while some others are established as independent legal entities. In this connection, will the Government inform this Council:
(1) of the following information on the aforesaid organisations, which are wholly owned by, established or operated with funding support from the Government, and statutory bodies (such as the Cyberport and the Hong Kong Science and Technology Parks Corporation) (including the existing ones and those under formation): (i) objectives of the organisations, (ii) positioning of the organisations, and (iii) their responsibilities, together with a breakdown by their respective sectors (i.e. upstream, midstream and downstream) in the I&T ecosystem;
(2) whether it has examined if the organisations mentioned in (1) have overlapping or similar functions; if it has, of the details; if not, the reasons for that; and
(3) whether it will adopt a “zero-based mindset” (i.e. a mindset of getting rid of the existing framework and thinking from scratch) in planning afresh the resources currently allocated to I&T development, such as by reorganising or merging organisations with similar functions, so as to better dovetail with the development strategies put forward in the Hong Kong I&T Development Blueprint?
Reply:
President,
The consolidated reply in response to the questions raised by the Hon Chan Siu-hung is as follows:
Infrastructure is the cornerstone of innovation and technology (I&T) development, while the foundation of such development is research and development (R&D). In the past years, the Government of the Hong Kong Special Administrative Region (HKSAR) has devoted substantial resources to implement a series of infrastructural projects and established various R&D institutes and platforms, with a view to enhancing our local I&T ecosystem continuously. Such organisations include the Hong Kong Science and Technology Parks Corporation (HKSTPC), Cyberport, the Hong Kong Productivity Council (HKPC) and the R&D Centres under the Innovation and Technology Commission (ITC).
Established in 2001, the HKSTPC is a statutory body wholly owned by the Government. As an I&T flagship in Hong Kong, the HKSTPC is committed to providing infrastructure facilities, incubation programmes and one-stop support services for I&T enterprises, thereby promoting the development of a comprehensive I&T ecological chain encompassing the upstream, midstream and downstream sectors in Hong Kong. The HKSTPC is responsible for managing and operating the Science Park in Pak Shek Kok, the InnoCentre in Kowloon Tong, and the three InnoParks in Tai Po, Yuen Long and Tseung Kwan O, supporting around 1 700 enterprises, covering various technology areas including biomedical technology, electronics, green technology, information and communications technology, and material and precision engineering.
Cyberport, a company wholly-owned by the Government, has been in operation since 2004. As Hong Kong’s digital technology flagship, Cyberport comprises more than 2 200 enterprises including over 900 onsite companies and nine Hong Kong unicorns, covering areas such as artificial intelligence (AI), big data, smart living, financial technology and blockchain. It endeavours to promote the development of the digital technology ecosystem in Hong Kong through a series of incubation programmes and support measures targeting the development needs of digital technology start-ups at different stages. Cyberport also supports R&D and application projects of different I&T institutes and companies through its digital and computing power facilities including the AI Supercomputing Centre.
As for the HKPC which was established in 1967, it is a statutory organisation dedicated to promoting the productivity excellence of Hong Kong’s enterprises through advanced technologies and innovative services. The HKPC has set out development priorities focusing on, among other areas, “Intelligent Manufacturing”, “New Industrialisation – Made in Hong Kong”, “Smart and Green Living” and “FutureSkills”, to serve small and medium enterprises and start-ups and promote commercialisation in the downstream.
Meanwhile, the R&D Centres under the ITC (including the Hong Kong Applied Science and Technology Research Institute (ASTRI), the Hong Kong Research Institute of Textiles and Apparel, the Logistics and Supply Chain MultiTech R&D Centre and the Nano and Advanced Materials Institute (NAMI)) have been taking forward industry-driven applied R&D work that suits market needs and transferring technologies to the industries through contract researches, licensing arrangements, etc, to commercialise their R&D outcomes.
To expedite Hong Kong’s progress of developing into an international I&T centre, the current-term Government announced the Hong Kong I&T Development Blueprint (Blueprint) in end-2022. The Blueprint provides a systematic strategic plan to promote the development of I&T in Hong Kong. Alongside consolidating our strengths in upstream basic R&D, the mid-to-downstream transformation and commercialisation of the R&D outcomes would also be strengthened, with a view to further enhancing our I&T ecosystem and accelerating the development of Hong Kong’s new real economy. In the past two years or so, following the development directions and strategies set out in the Blueprint, the current-term Government has been making meticulous preparation in policy formulation and resource allocation. Layout of Hong Kong’s I&T system’s structural framework has been set, which is crucial to pooling international I&T resources and talents. The objective is to promote the innovation and diversification of industries through I&T to achieve Hong Kong’s high-quality development.
On the basis of the two existing major I&T parks, the HKSAR Government is taking forward the construction of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (the Hong Kong Park) with enhanced speed and efficiency. The Hong Kong Park is developed in two phases from west to east, and focuses on the development of frontier technological fields, such as life and health technology, AI and data science, as well as new technologies and advanced manufacturing. It mainly engages in R&D, pilot production and small-scale production. Batch 1 of Phase 1 of the Hong Kong Park comprises eight buildings. The first three buildings are all about to complete and the Hong Kong Park will officially enter into its operational phase later this year. The Hong Kong-Shenzhen I&T Park Limited, vested with the responsibility to build the superstructure of, as well as to operate, maintain and manage the Hong Kong Park, is pressing ahead with the work on attracting tenants as well as the construction of the other five buildings. With the official opening of the Hong Kong Park this year, the “north, central, south” layout plan for the three major I&T parks in Hong Kong will essentially be realised. For the Hong Kong Park to the north of Hong Kong, which connects to Shenzhen in the north and the San Tin Technopole in the south, it will become a key hub for R&D as well as pilot production and transformation in Hong Kong in future. The Science Park in the central part of Hong Kong will continue to support the R&D of deep technology and nurture more local technology start-ups. As for Cyberport to the south of Hong Kong, it will continue to focus on promoting the development of the local digital technology and AI ecosystem, as well as incubating more relevant start-ups and talents.
Besides, taking into account the technological development and in line with the development strategies set out in the Blueprint, we will restructure the overall layout of Hong Kong’s public research institutes with a focus on frontier technological fields at the forefront of the country’s and Hong Kong’s development priorities, including life and health technology, AI and robotics and microelectronics technology. Apart from incorporating the Automotive Platforms and Application Systems R&D Centre into the HKPC earlier and our plans to merge the ASTRI and the NAMI, we established the Hong Kong Microelectronics R&D Institute last year to provide targeted support for the R&D of third-generation semiconductor core technology. We are also pressing ahead at full steam to set up two third-generation semiconductor pilot lines (Silicon Carbide (SiC) and Gallium Nitride (GaN)), striving to put them into operation next year to promote the transformation of R&D outcomes and industry development.
In addition, the HKSAR Government has already allocated $6 billion from the $10 billion earmarked for the promotion of life and health technology to launch the Subsidy Programme for the Setup of Life and Health Technology Research Institute(s) (the Subsidy Programme), thereby supporting local universities to set up life and health technology research institute(s). Institutions have been invited to submit proposals for the Subsidy Programme to foster cross university/institutional and multi-disciplinary collaboration.
Furthermore, the 2025-26 Budget announced that $1 billion has been set aside for the establishment of the Hong Kong AI R&D Institute (AIRDI), which will spearhead and support Hong Kong’s innovative R&D and industry applications of AI, facilitating upstream R&D, midstream and downstream transformation of R&D outcomes, and expanding application scenarios. The Digital Policy Office is formulating a detailed plan for the establishment of AIRDI, including drawing up its public mission, implementation strategy and work objectives.
We believe that, upon establishing the new I&T system with three major I&T parks and five key R&D institutes, it will create an important platform and more favourable conditions to attract international I&T resources and talents to Hong Kong, providing key support to Hong Kong’s development into an international I&T centre.
To recognize professionals delivering excellence in National Highway development, the sixth edition of ‘National Highways Excellence Awards 2023’ (NHEA 2023) were held at Bharat Mandapam in New Delhi. Hon’ble Minister for Road Transport and Highways, Shri Nitin Gadkari along with Shri Harsh Malhotra, Hon’ble Minister of State and Dr V.K. Saraswat, Member, NITI Aayog; senior officials from MoRTH, NHAI and other stakeholders were present on the occasion.
NHEA 2023 commemorated various officials and concessionaire/contractors for their innovation and exceptional performance. Out of total 125 nominations, 22 entries were shortlisted by the jury through multiple assessment rounds and five awards for outstanding projects were awarded in different categories. In the ‘Excellence in Project Management (PPP) category, the winner H.G. Infra Engineering Ltd was conferred with the Silver Award for the project Ateli Mandi to Narnaul section of NH-11 & Narnaul Bypass as an economic corridor in Haryana. Under the ‘Excellence in Project Management (EPC)’ category, Bhartia Infra Projects was awarded the Silver Award for Hakanjuri to Khonsa section of NH-315A in Arunachal Pradesh. The ‘Excellence in Operation & Maintenance (Flexible)’ category had Nanguneri Kanyakumari Tollway Pvt Ltd being bestowed with the Gold Award for Madurai to Kanyakumari of NH-7 Package 4 in Tamil Nadu. In the Green Highways category, Ashoka Buildcon Ltd won the Gold award for Kandi to Ramsanpalle section of NH-161 in Telangana and Deccan Tollways Ltd won the Silver Award for Maharashtra-Karnataka border to Sangareddy section of NH-65 in Karnataka and Andhra Pradesh.
The Best Engineer Award was conferred to Shri Navratan, DGM & PD, NHAI, Shri Devender Kumar, GM, NHIDCL and Shri Subhash Chandra, RO Itanagar, MoRTH. Special recognition was given to Uralungal Labour Contract Co-operative Society (ULCCS) for its unwavering commitment to quality, transparency and social responsibility.
During the day long event, winners of the पथ चिंतन Hackathon were also felicitated for their innovative ideas and tech-driven solutions that will contribute in transforming India’s National Highway infrastructure.
Encouraging adoption of innovative practices in National Highway development, Hon’ble Minister for Road Transport and Highways, Shri Nitin Gadkari in his keynote address said, “Our goal is to raise the bar for quality, ownership & decision-making in road construction. With collective responsibility, we can create global benchmarks & achieve higher daily construction targets.”
Addressing the audience, Hon’ble Minister of State for MoRTH & Corporate Affairs, Shri Harsh Malhotra said “Our highways are just not concrete roads, they are the roads of progress for our country. The Ministry of Road Transport and Highways is going to play a very important role in the vision of Viksit Bharat in 2047.”
In his address Shri V. Umashankar, Secretary, MoRTH said “As we advance rapidly in National Highway development, we are equally prioritizing quality construction. The quality of highways we give right now is the legacy we will be leaving behind for the next generation. Highway construction is not just a technical endeavor, but a collective effort of vision, innovation, and pride. Our goal is to set new benchmarks in engineering excellence and embracing new technologies for highway development, that will contribute towards our shared commitment towards nation-building.”
In his address NHAI Chairman Shri Santosh Kumar Yadav highlighted the importance of enhancing collaboration between different stakeholders to achieve excellence in National highway development. He also underlined the collective impact of regular capacity-building of all stakeholders to create a world class National Highway network.
Focused panel discussions with senior officials, academicians from various IITs, representatives of research institutes and industry experts were also held on various aspects of highway development which included deliberations on ‘New technologies in Highway Construction and Use of Technology in Quality Control’, ‘Highway Development in Hilly Areas’, ‘Rating of DPR Consultants/AEs and Road Construction Agencies’ and ‘Emergence of Indian Construction Companies as Global Players’.
Institutionalized in 2018, National Highway Excellence Awards aims to incentivize and encourage key stakeholders and to create a spirit of healthy competition amongst all the stakeholders involved in the development of National Highway infrastructure in the country.
KEYNOTE ADDRESS by the Prime Minister Hon. Fiame Naomi Mata’afa [Thursday 3rd April 2025]
Reverend Puletua Tapumanaia,
Members of Cabinet,
Representatives of our Development Partners,
Chairpersons and members of Executive Boards of Government Public Bodies, and of Agriculture in Samoa,
Heads of Government Agencies, Private Sector and Exporters, Partners of the Samoa Export Authority,
Ladies and Gentlemen.
I am pleased to be here to witness the official Opening of the Office of the Samoa Export Authority and to celebrate the launch of its Corporate Plan for the first 5 years of its establishment, from the Financial Year 2025/2026 to 2029/2030.
The establishment of the Samoa Export Authority has been long in the making. An interim Board was established in February 2024 to guide the establishment phase, including consultations across the country and with communities and all stakeholders in developing the policies that underpin the establishment of the Authority and a legislation to legislate and govern its operations.
The Samoa Export Authority Bill 2024 was tabled and passed in Parliament during its sitting in August 2024, and the SEA Act 2024 came into force on 22nd August 2024 when it was signed by the Head of State. The SEA Act 2024, established the Samoa Export Authority as a Body Corporate under the Public Bodies (Performance and Accountability) Act 2001.
As well as opening the new Office, we are also this morning, launching the Corporate Plan for the Authority for the period of 2025/2026 Financial Year to the 2029/2030 Financial Year. The 5-year duration of the Corporate Plan was agreed upon by the SEA Interim Board, to align with a Cabinet decision for the Authority to be established as a Public Beneficial Body in its first 5 years, after which a review should be carried out to consider it becoming a Public Trading Body. Thus the Corporate Plan we are launching today, was developed with a view towards this review mandated by Cabinet to be carried out in August 2029, 5 years after the SEA Act 2024 came into force.
But why the need for an Export Authority? Right now, Samoa spends around $1 billion tala on imported goods. Only around 10% of that amount is earned from goods we export. It is a trade imbalance that is strangling our development and a situation we urgently need to address.
The SEA Act 2024 and the SEA Corporate Plan we are launching this morning, lays out the objectives and functions of the Authority, to address the trade imbalance mentioned-above, through effectively promoting exports or export products from Samoa.
The Objectives of the Authority are:
1. To address policy and legislative requirements to enable exports development and market access;
2. To boost exports through supporting production and productivity, development of export products, and access to export services along value-chains, in partnerships with producers, manufacturers and business operators; and,
3. To establish export markets, and strengthen capacity in standards for market access.
In performing its functions, the Authority will liaise and cooperate with other relevant organizations of the Government, such as MCIL, MFAT, MAF and SROS; private sector and civil society, to ensure that strategic planning and arrangements are in place to deal with exports from Samoa.
In addition, the Authority is to:
a) facilitate and coordinate export development;
b) facilitate and coordinate an enabling environment for the revival and growth of the export sector;
c) find new markets for Samoa’s export sector;
d) promote and facilitate compliance with market requirements; and,
e) facilitate and coordinate the availability of needed capacity building for exporters and other parties of the export value chain.
Before I conclude, I would like to acknowledge the great work by the SEA Interim Board, and the support of MPE as its Secretariat, during the establishment phase of the Authority. The leadership of the Interim Board allowed for a wide consultations process in the development of a SEA legislation, and your guidance facilitated the smooth passing of the SEA legislation through Parliament. It was an achievement to be applauded, when the SEA Act 2024 came into force on 22nd August 2024. Working closely with the new CEO, you also managed to develop a Corporate Plan to guide the work of the Authority in its first 5 years of existence. The SEA Interim Board, ladies and gentlemen comprised of:
Afioga Tagaloa Eddie Wilson, the Chairperson;
Afioga Fa’amausili Dr Matagialofi Lua’iufi;
Afioga Tuisa Tasi Patea;
And two ex-officios: Afioga Saoleititi Maeva Betham-Vaai, and Pouli Dr Keneti Faulalo.
I believe the achievements of the SEA Interim Board has set a solid foundation upon which the new SEA Board, established under the provisions of the SEA Act 2024, will guide the work of the Authority moving forward.
On that note, it is with pleasure that I welcome the members of the new SEA Board that has been approved by Cabinet:
Afioga Tuia’opo Andrew Aliki, Chairman;
Afioga Tuimaseve Kuinimeri Asora-Finau;
Afioga Peseta Peter Tone;
Afioga Tagaloa Eddide Wilson; and,
Afioga Vaai Kolone Vaai.
We wish you all the best in guiding the journey of the Authority. I am confident that with strong leadership and strategic guidance, and with the commitment and drive of the SEA staff, the Authority will be effective in meeting its objectives in leading, facilitating and coordinating export development and export of products from Samoa.
I am now pleased to announce the official opening of the new Samoa Export Authority, as well as the official launch of their Corporate Plan for the first 5 years of its establishment.
May God bless the Authority in its journey and May God Bless Samoa.
Soifua ma ia Manuia!
TATALA ALOAIA LE OFISA FOU O LE PULEGA O OLOA AUINA ATU I FAFO A SAMOA MA LANA FUAFUAGA AUTASI ALUALU MAMAO
SAUNOAGA AUTU a le Afioga i le Palemia, Hon. Fiame Naomi Mata’afa [Aso Tofi 3 Aperila 2025]
Susu lau Susuga i le Ta’ita’i o le Sauniga, lau Susuga Puletua Tapumanaia, Fa’afeagaiga o le Ekalesia EFKS, Penieli Fou, Falelauniu,
Afifio Minisita o le Kapeneta,
Sui o tatou Paaga tau Atina’e,
Afifio Ta’ita’ifono o Komiti Fa’atonu ma Sui o Komiti Fa’afoe o Fa’alapotopotoga a le Malo,
Afifio Sui o Komiti Faufautua o Fa’atoaga ma Faigafaiva,
Afifio Fa’auluuluga o Matagaluega ma Fa’alapotopotoga Tumaoti a le Malo,
Aufai Pisinisi Gaosi Oloa Auina atu i Fafo,
Sui o Paaga a le Pulega o Oloa Auina atu i Fafo a Samoa,
Le paia ma le mamalu o Samoa ua potopoto,
E talitonu o lea ua mapu i le tuasivi le faiva o manusina. Ua mae’a fo’i ona utu le uila o matagi auā le fa’amua ma le fa’asani i le Atua ma Lona agalelei. Ua utūialā le sasaga i le ūtugāvai a tausala, ma ua fa’atofolia i tatou i le malilie o sua o vai, auā manū fa’aifo mai le Tapa’au Silisili’ese i le Lagi.
Ou te manatu fo’i ua mae’a paelago pa’ia o Samoa ua potopoto e le Fofoga o le aso, o le a le toe o’o i ai se tala.
Ae e ia te a’u le mitamitaga tele i lenei taeao, ua tatou auai fa’atasi e molimauina le tatalaina aloa’ia o le Ofisa fou o le Pulega o Oloa Auina Atu i Fafo a Samoa. Ua le o po malaē i le tatou fa’atasiga, o le Pulega ua faitau tausaga ona fuafua ma fa’atalatalanoa, ma ua leva fo’i ona fai galuega mo lona tau fa’atūina, e aofia ai le faufauina o ana Faiga Fa’avae, ma sana Tulafono Autū.
Pei ona silafia, o le Tulafono o le Pulega o Oloa Auina Atu i Fafo a Samoa 2024, sa pasia lea e le Palemene i lana fonotaga i le masina o Aukuso 2024, ma sa sainia ai e lana Afioga i le Ao Mamalu o le Malō, i le Aso 22 Aukuso, 2024. O lea Tulafono, ua fa’atuina ai le Pulega, o se Fa’alapotopotoga ua Tu’ufa’atasia Fa’aletulafono (Body Corporate).
E le gata i le tatala aloa’iaina o le Ofisa fou, ae o le taeao nei, o le a fa’apea fo’i ona tatou amana’iaina ai le Fuafuaga Autasi Alualu Mamao a le Pulega (Corporate Plan) mo lona ulua’i 5 tausaga o lona fa’atūina, mai le tausaga fa’aletupe 2025/2026 se’ia o’o i le 2029/2030. O le avea o le 5 tausaga e fa’atulaga ai le Fuafuaga Autasi Alualu Mamao, ina ia o gatasi ma le fa’avae fa’ata’oto a le Malō, mo le Pulega e avea ma Public Beneficial Body i le 5 tausaga muamua mai lona fa’atuina, ona toe iloilo lea pe agava’a ona liliu e avea ma Public Trading Body.
E pei ona lau silafia, o le fa’avae autū sa a’e ai le tofā mo le fa’atuina o le Pulega, o le tau fo’ia lea o le fa’afitauli tugā, i le ova mamao o le tele o oloa fa’aulufale mai i Samoa, pe a fa’atusatusa i oloa auina atu i fafo. I le taimi nei, e tusa ma le $1 piliona Tala tupe fa’aalu a Samoa i oloa fa’aulufale mai, ae na o le 10% o lea aofa’iga, e maua mai lea i ana oloa auina atu i fafo. O se tulaga lē paleni tele lea i fefa’atauaiga o oloa, ua fa’ama’ia ai le atina’e o le tatou atunu’u, ma o se tulaga e tatau ona vave fo’ia.
O le Tulafono o le Pulega o Oloa Auina Atu i Fafo a Samoa 2024, fa’apea le Fuafuaga Autasi Alualu Mamao ua tatou patipatia i le taeao nei, o lo’o fa’ata’atitia, ma aiaia ai matafaioi tau’ave, fa’apea galuega poutū a le Pulega.
O sini ma galuega autū o le Pulega, e aofia ai le fesoasoani malosi i le fa’amaopo’opoina ma le fa’afaigofieina o le auina atu i fafo o a tatou oloa, e ala i faiga fa’apa’aga ma isi fa’alapotopotoga ‘ese’ese a le Malo ua tutusa malosi’aga, e pei o le Matagalujega o Pisinisi, Alamanuia ma Leipa (MCIL) ma le Matagaluega o le Va i Fafo ma Fefa’ataua’iga (MFAT), aemaise vaega tuma’oti e i ai le Au faifa’ato’aga ma au’aunaga e mafai ona auina atu i fafo. E aofia ai fo’i le fesoasoani malosi mo alamanuia mo le aufai fa’ato’aga lima vaivai ma alalafaga o lo o gāfātia i le galuea’ina o latou fanua ma ‘ele’ele fa’aleaganu’u, e ala lea i galuega fuafuaina a le Pulega.
O galuega tau’ave autu a le Pulega, e aofia ai le fa’ateleina o fua faifa’ato’aga e fuafua mo ‘oloa, pe o le gaosia o ‘oloa e ‘auina atu i fafo, e ala lea i le fesoasoani e sui faiga faifa’ato’aga, mai i le na o le gaosia mo taumafa fa’ale’āiga (subsistence), ae faifa’ato’aga e gaosia taumafa fa’apea le faifa’apisinisi (commercialization).
E le gata i lea, o galuega tau’ave autū a le Pulega, e aofia ai fo’i le fa’amaopo’opo ma fa’afeso’ota’iga o le ‘au faifa’ato’aga, le ‘au fa’atau’oloa, ma i latou uma o lo o faia au’aunaga mo le atina’eina o oloa auina atu i fafo, aemaise o le fa’amautinoaina o lo’o iai se si’osi’omaga talafeagai mo le auina atu i fafo o a tatou oloa. O le Pulega fo’i e na te una’ia malosi le fa’alauiloaina o a tatou oloa e auina pe fefa’ataua’i atu i fafo.
I lona aotelega, o le Pulega ua fa’atuina ina ia mafai ai ona fa’afaigofie ma fa’amaopo’opo le auina atu i fafo o ‘oloa ma au’aunaga mai Samoa. O le fa’amoemoe autū, ia mafai lea ona tele ‘oloa ma au’aunaga auina atu i fafo, ina ia manuia ai o tatou tagata, o le toatele o i latou o faifa’ato’aga mai nu’u i tua.
A o le’i fa’amutaina la’u tautalaga, ou te avatu le fa’amalō tele i le Komiti Fa’atonu Le Tumau a le Pulega, o i latou ia sa latou ta’imua i le tu’ufa’atasiga o le Tulafono mo le Pulega, ma sa ta’ita’iina fo’i galuega fai mo le fa’atuina o le Pulega, e aofia ai le fa’afouina o le Ofisa, ma sa galulue fa’atasi ma le Pule Sili, i le tu’ufa’atasia o le Fuafuaga Autasi Alualu Mamao ‘ua tatou patipatia i le taeao nei.
E fa’apea fo’i ‘ona momoli le fa’afetai tele i le Matagaluega o Fa’alapotopotoga a le Malō (MPE), sa ‘avea ma failautusi (Secretariat) a le Komiti Fa’atonu Le Tumau, i le 12 masina o le latou galuega. Fa’afetai i le Komiti Le Tumau, ‘ua ma’ea la outou galuega sa tofia ai ‘outou e le Kapeneta, fa’amalo le fai o le faiva:
I lau Afioga i le Ta’ita’ifono o le Komiti le Tumau, lau Afioga Tagaloa Eddie Wilson;
Lau Afioga Fa’amausili Dr Matagialofi Lua’iufi;
Lau Afioga Tuisa Tasi Patea;
Fa’apea sui ex-officios: Afioga Saoleititi Maeva Betham-Vaai, ma le Afioga ia Pouli Dr Keneti Faulalo.
Talitonu ‘ua ‘outou fausia se paepae maumaututū e fai ma fa’avae malosi e fa’atino ai galuega fai a le Pulega i le ta’ita’iga a le Komiti Fa’atonu fou ua fa’atuina i lalo o le Tulafono.
Ia atonu o se avanoa lelei lenei e fa’atalofa atu ai i tou Afioga i le ulua’i Komiti Fa’atonu a le Pulega, ua fa’atuina i lalo o le Tulafono.
Fa’atalofa atu:
Lau Afioga Tuia’opo Andrew Aliki, o le Ta’ita’ifono lea o le Komiti Fa’atonu;
Afioga Tuimaseve Kuinimeri Asora-Finau;
Afioga Peseta Peter Tone;
Afioga Tagaloa Eddide Wilson; ma le
Afioga Vaai Kolone Vaai
O outou māmā na. O la outou ta’ita’iga ma le galulue faʻatasi ma le Ofisa Sili ma le aufaigaluega a le Pulega, o le a mautinoa ai le ‘ausia o sini autu ma matafaioi fa’atino a le Pulega, e pei ona fa’atulagaina i le Fuafuaga Autasi Alualu Mamao mo le Tausaga Fa’aletupe 2025/2026 – 2029/2030. Ia, fa’amanuia tele le Atua i le Pulega ma le amatalia o lana folauga, ma ia fai sona ‘ai mo se manuia o tatou tagata lautele.
Ou te fiafia lava e fa’asilasila atu, ua tatala aloaia nei le Ofisa fou mo le Pulega o Oloa Auina atu i Fafo a Samoa (Samoa Export Authority), fa’apea le Fa’alauiloaina aloaia o le latou Fuafuaga Autasi Alualu Mamao (Corporate Plan) mo le ulua’i 5 tausaga o lona fa’atuina.
Soifua ma ia Manuia.
Ata Pueina – Malo o Samoa (Asuisui V. Matafeo)
TATALA ALOAIA LE OFISA FOU O LE PULEGA O OLOA AUINA ATU I FAFO A SAMOA MA LANA FUAFUAGA AUTASI ALUALU MAMAO
SAUNOAGA AUTU a le Afioga i le Palemia, Hon. Fiame Naomi Mata’afa [Aso Tofi 3 Aperila 2025]
Susu lau Susuga i le Ta’ita’i o le Sauniga, lau Susuga Puletua Tapumanaia, Fa’afeagaiga o le Ekalesia EFKS, Penieli Fou, Falelauniu,
Afifio Minisita o le Kapeneta,
Sui o tatou Paaga tau Atina’e,
Afifio Ta’ita’ifono o Komiti Fa’atonu ma Sui o Komiti Fa’afoe o Fa’alapotopotoga a le Malo,
Afifio Sui o Komiti Faufautua o Fa’atoaga ma Faigafaiva,
Afifio Fa’auluuluga o Matagaluega ma Fa’alapotopotoga Tumaoti a le Malo,
Aufai Pisinisi Gaosi Oloa Auina atu i Fafo,
Sui o Paaga a le Pulega o Oloa Auina atu i Fafo a Samoa,
Le paia ma le mamalu o Samoa ua potopoto,
E talitonu o lea ua mapu i le tuasivi le faiva o manusina. Ua mae’a fo’i ona utu le uila o matagi auā le fa’amua ma le fa’asani i le Atua ma Lona agalelei. Ua utūialā le sasaga i le ūtugāvai a tausala, ma ua fa’atofolia i tatou i le malilie o sua o vai, auā manū fa’aifo mai le Tapa’au Silisili’ese i le Lagi.
Ou te manatu fo’i ua mae’a paelago pa’ia o Samoa ua potopoto e le Fofoga o le aso, o le a le toe o’o i ai se tala.
Ae e ia te a’u le mitamitaga tele i lenei taeao, ua tatou auai fa’atasi e molimauina le tatalaina aloa’ia o le Ofisa fou o le Pulega o Oloa Auina Atu i Fafo a Samoa. Ua le o po malaē i le tatou fa’atasiga, o le Pulega ua faitau tausaga ona fuafua ma fa’atalatalanoa, ma ua leva fo’i ona fai galuega mo lona tau fa’atūina, e aofia ai le faufauina o ana Faiga Fa’avae, ma sana Tulafono Autū.
Pei ona silafia, o le Tulafono o le Pulega o Oloa Auina Atu i Fafo a Samoa 2024, sa pasia lea e le Palemene i lana fonotaga i le masina o Aukuso 2024, ma sa sainia ai e lana Afioga i le Ao Mamalu o le Malō, i le Aso 22 Aukuso, 2024. O lea Tulafono, ua fa’atuina ai le Pulega, o se Fa’alapotopotoga ua Tu’ufa’atasia Fa’aletulafono (Body Corporate).
E le gata i le tatala aloa’iaina o le Ofisa fou, ae o le taeao nei, o le a fa’apea fo’i ona tatou amana’iaina ai le Fuafuaga Autasi Alualu Mamao a le Pulega (Corporate Plan) mo lona ulua’i 5 tausaga o lona fa’atūina, mai le tausaga fa’aletupe 2025/2026 se’ia o’o i le 2029/2030. O le avea o le 5 tausaga e fa’atulaga ai le Fuafuaga Autasi Alualu Mamao, ina ia o gatasi ma le fa’avae fa’ata’oto a le Malō, mo le Pulega e avea ma Public Beneficial Body i le 5 tausaga muamua mai lona fa’atuina, ona toe iloilo lea pe agava’a ona liliu e avea ma Public Trading Body.
E pei ona lau silafia, o le fa’avae autū sa a’e ai le tofā mo le fa’atuina o le Pulega, o le tau fo’ia lea o le fa’afitauli tugā, i le ova mamao o le tele o oloa fa’aulufale mai i Samoa, pe a fa’atusatusa i oloa auina atu i fafo. I le taimi nei, e tusa ma le $1 piliona Tala tupe fa’aalu a Samoa i oloa fa’aulufale mai, ae na o le 10% o lea aofa’iga, e maua mai lea i ana oloa auina atu i fafo. O se tulaga lē paleni tele lea i fefa’atauaiga o oloa, ua fa’ama’ia ai le atina’e o le tatou atunu’u, ma o se tulaga e tatau ona vave fo’ia.
O le Tulafono o le Pulega o Oloa Auina Atu i Fafo a Samoa 2024, fa’apea le Fuafuaga Autasi Alualu Mamao ua tatou patipatia i le taeao nei, o lo’o fa’ata’atitia, ma aiaia ai matafaioi tau’ave, fa’apea galuega poutū a le Pulega.
O sini ma galuega autū o le Pulega, e aofia ai le fesoasoani malosi i le fa’amaopo’opoina ma le fa’afaigofieina o le auina atu i fafo o a tatou oloa, e ala i faiga fa’apa’aga ma isi fa’alapotopotoga ‘ese’ese a le Malo ua tutusa malosi’aga, e pei o le Matagalujega o Pisinisi, Alamanuia ma Leipa (MCIL) ma le Matagaluega o le Va i Fafo ma Fefa’ataua’iga (MFAT), aemaise vaega tuma’oti e i ai le Au faifa’ato’aga ma au’aunaga e mafai ona auina atu i fafo. E aofia ai fo’i le fesoasoani malosi mo alamanuia mo le aufai fa’ato’aga lima vaivai ma alalafaga o lo o gāfātia i le galuea’ina o latou fanua ma ‘ele’ele fa’aleaganu’u, e ala lea i galuega fuafuaina a le Pulega.
O galuega tau’ave autu a le Pulega, e aofia ai le fa’ateleina o fua faifa’ato’aga e fuafua mo ‘oloa, pe o le gaosia o ‘oloa e ‘auina atu i fafo, e ala lea i le fesoasoani e sui faiga faifa’ato’aga, mai i le na o le gaosia mo taumafa fa’ale’āiga (subsistence), ae faifa’ato’aga e gaosia taumafa fa’apea le faifa’apisinisi (commercialization).
E le gata i lea, o galuega tau’ave autū a le Pulega, e aofia ai fo’i le fa’amaopo’opo ma fa’afeso’ota’iga o le ‘au faifa’ato’aga, le ‘au fa’atau’oloa, ma i latou uma o lo o faia au’aunaga mo le atina’eina o oloa auina atu i fafo, aemaise o le fa’amautinoaina o lo’o iai se si’osi’omaga talafeagai mo le auina atu i fafo o a tatou oloa. O le Pulega fo’i e na te una’ia malosi le fa’alauiloaina o a tatou oloa e auina pe fefa’ataua’i atu i fafo.
I lona aotelega, o le Pulega ua fa’atuina ina ia mafai ai ona fa’afaigofie ma fa’amaopo’opo le auina atu i fafo o ‘oloa ma au’aunaga mai Samoa. O le fa’amoemoe autū, ia mafai lea ona tele ‘oloa ma au’aunaga auina atu i fafo, ina ia manuia ai o tatou tagata, o le toatele o i latou o faifa’ato’aga mai nu’u i tua.
A o le’i fa’amutaina la’u tautalaga, ou te avatu le fa’amalō tele i le Komiti Fa’atonu Le Tumau a le Pulega, o i latou ia sa latou ta’imua i le tu’ufa’atasiga o le Tulafono mo le Pulega, ma sa ta’ita’iina fo’i galuega fai mo le fa’atuina o le Pulega, e aofia ai le fa’afouina o le Ofisa, ma sa galulue fa’atasi ma le Pule Sili, i le tu’ufa’atasia o le Fuafuaga Autasi Alualu Mamao ‘ua tatou patipatia i le taeao nei.
E fa’apea fo’i ‘ona momoli le fa’afetai tele i le Matagaluega o Fa’alapotopotoga a le Malō (MPE), sa ‘avea ma failautusi (Secretariat) a le Komiti Fa’atonu Le Tumau, i le 12 masina o le latou galuega. Fa’afetai i le Komiti Le Tumau, ‘ua ma’ea la outou galuega sa tofia ai ‘outou e le Kapeneta, fa’amalo le fai o le faiva:
I lau Afioga i le Ta’ita’ifono o le Komiti le Tumau, lau Afioga Tagaloa Eddie Wilson;
Lau Afioga Fa’amausili Dr Matagialofi Lua’iufi;
Lau Afioga Tuisa Tasi Patea;
Fa’apea sui ex-officios: Afioga Saoleititi Maeva Betham-Vaai, ma le Afioga ia Pouli Dr Keneti Faulalo.
Talitonu ‘ua ‘outou fausia se paepae maumaututū e fai ma fa’avae malosi e fa’atino ai galuega fai a le Pulega i le ta’ita’iga a le Komiti Fa’atonu fou ua fa’atuina i lalo o le Tulafono.
Ia atonu o se avanoa lelei lenei e fa’atalofa atu ai i tou Afioga i le ulua’i Komiti Fa’atonu a le Pulega, ua fa’atuina i lalo o le Tulafono.
Fa’atalofa atu:
Lau Afioga Tuia’opo Andrew Aliki, o le Ta’ita’ifono lea o le Komiti Fa’atonu;
Afioga Tuimaseve Kuinimeri Asora-Finau;
Afioga Peseta Peter Tone;
Afioga Tagaloa Eddide Wilson; ma le
Afioga Vaai Kolone Vaai
O outou māmā na. O la outou ta’ita’iga ma le galulue faʻatasi ma le Ofisa Sili ma le aufaigaluega a le Pulega, o le a mautinoa ai le ‘ausia o sini autu ma matafaioi fa’atino a le Pulega, e pei ona fa’atulagaina i le Fuafuaga Autasi Alualu Mamao mo le Tausaga Fa’aletupe 2025/2026 – 2029/2030. Ia, fa’amanuia tele le Atua i le Pulega ma le amatalia o lana folauga, ma ia fai sona ‘ai mo se manuia o tatou tagata lautele.
Ou te fiafia lava e fa’asilasila atu, ua tatala aloaia nei le Ofisa fou mo le Pulega o Oloa Auina atu i Fafo a Samoa (Samoa Export Authority), fa’apea le Fa’alauiloaina aloaia o le latou Fuafuaga Autasi Alualu Mamao (Corporate Plan) mo le ulua’i 5 tausaga o lona fa’atuina.
[GOVT PRESS SECRETARIAT – Thursday, 03rd April 2025] – Cabinet has approved the reappointment of Agafili Tomaimanō Shem Leo to the position of Chief Executive Officer for the Ministry of the Prime Minister and Cabinet (MPMC), and Secretary to Cabinet.
Agafili was initially appointed to this position in late 2015 and officially commenced his duties in 2016. He began his career as a teacher at Samoa College in 2001 and was promoted to the role of Principal Policy Analyst for the MPMC in 2007. He has remained with the Ministry for 18 years including nine years as CEO.
Agafili holds a Master of Arts in Governance, a Postgraduate Diploma in Development Studies and a Bachelor of Education in Geography. He is a former student of Samoa College and an alumni of the University of the South Pacific in Suva.
He is an Assistant Pastor and a Bible teacher for the Laloanea Bible Fellowship. He is married with two children. He is from the villages of Tufulele, Amaile, Samusu, and Sala’ilua.
END.
TOFIAINA O AGAFILI TOMAIMANŌ SHEM LEO I LE TOFIGA OFISA SILI O PULEGA O LE MATĀGALUEGA A LE PALEMIA MA LE KAPENETA
[SO’O’UPU A LE MALO – Aso Tofi, 03 Aperila 2025] – Ua fa’amaonia e le Kapeneta le toe tofia o le tōfā iā Agafili Tomaimanō Shem Leo i le tofiga o le Ofisa Sili o Pulega o le Matāgaluega a le Palemia ma le Kapeneta, faapea le tofiga Failautusi o le Kapeneta mo le isi tolu tausaga.
Na muai tofia Agafili Tomaimanō i lenei tofiga i le faaiuga o le 2015 ma amata aloaia ai i le 2016. Na amata lana tautua i le Malo i le 2001 o se faiaoga faauuina i le Kolisi o Samoa, ona tofia lea e galue i le Matagaluega o le Palemia ma le Kapeneta i le 2007 e oo mai i le asō.
O loo umiaina e Agafili Faailoga Tau Aoaoga o le Matuaofaiva o Fa’atufugaga i Tulaga Tau Pulega [Master of Arts in Governance], Tipiloma Mauāluga i Suesuega Tau Atina’e [Postgraduate Diploma in Development Studies], ma le Tikeri o Tulaga tau Aoaoga (Bachelor of Education in Geography). Sa aoaoina o ia i le Kolisi o Samoa, ma agai atu ai i le Iunivesete o le Pasefika i Saute i Fiti.
O ia o se tasi o Taitai mo le Mafutaga Faale Tusi Paia i Laloanea.
E toalua o la alo, ma o se tama fanau a afioaga o Tufulele, Amaile, Samusu, ma Sala’ilua.
Question for written answer E-001430/2025 to the Commission Rule 144 Liudas Mažylis (PPE)
USAID has set out plans to significantly reduce or eliminate health programmes in various regions of the world.
1.Is the Commission prepared to contribute to the funding of various health projects and programmes in different regions of the world and, if so, to what extent, what amount could be allocated to this, and from what specific sources?
2.How will it contribute to health programmes that provide vaccinations against viruses that have the potential to develop into pandemics?
3.Will the Commission develop programmes to fight HIV/AIDS in different regions of the world?
Question for written answer E-001460/2025 to the Commission Rule 144 Veronika Cifrová Ostrihoňová (Renew)
A new Meta AI feature has recently started to appear in Meta’s WhatsApp and Messenger chat apps, represented by a small blue circle. Meta announced the introduction of this feature on 19 March 2025[1]. According to available information, it is not possible to turn off this feature in these mobile apps, which is leaving consumers worried about their security on the internet. Some aspects of Meta’s AI feature fall under the scope of the Digital Services Act.
1.Has the Commission received an impact assessment report from Meta on Meta AI to date?
2.If so, what stage is the Commission currently at in its review of the risk assessment report, and when does it plan to complete it?
An Extraordinary General Meeting of Awilco Drilling PLC was held Wednesday 16 April 2025 at 10:00am (UK time), at the Company’s registered office, Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL, United Kingdom.
The resolution set out in the Meeting Notice was duly passed. The signed minutes of meeting are attached hereto.
The Meeting Notice is available on our website www.awilcodrilling.com, under ‘Investor Relations/General Meetings’.
ZURICH, April 16, 2025 (GLOBE NEWSWIRE) — The countdown is officially on. With just 5 days left before the close of the XploraDEX $XPL presale, investors across the crypto space are making their final moves to secure a spot in what many are calling the most innovative DeFi launch on the XRP Ledger to date.
XploraDEX isn’t just another decentralized exchange—it’s the first AI-powered DEX on XRPL, designed from the ground up to help traders operate smarter, faster, and more profitably. With the power of real-time data analysis, predictive modeling, and intelligent trade execution, the platform is reshaping how decentralized finance will function on one of crypto’s most battle-tested chains.
Since the start of the presale, XploraDEX has generated massive traction. Tens of thousands of wallets have interacted with the sale portal, over 75% of the total allocation has been claimed, and whale wallets have begun securing large stakes ahead of launch. Now, with the final 5-day window underway, the remaining allocation is moving fast.
The $XPL token is more than just a ticket to lower trading fees. It grants holders access to a full suite of advanced features, including:
•Exclusive AI trading tools and automation dashboards
•Early access to staking and yield farming modules
As soon as the presale ends, $XPL token will be listed on XRPL-based DEXs, and the full platform rollout will begin—including the launch of beta AI features, staking rewards, and the first wave of intelligent trading tools. Those who join now won’t just lock in a lower price—they’ll enter the ecosystem with first-mover advantage and full access to everything the protocol has to offer from day one.
The project has already been hailed as the DeFi upgrade XRPL desperately needed. And now, with the deadline fast approaching, it’s not just the early-stage investors paying attention—it’s the entire XRP ecosystem.
Only 5 days remain. After that, the doors close, the presale ends, and the market decides the future of $XPL. Don’t miss your entry into the next evolution of trading on XRPL.
Disclaimer: This press release is provided by the XploraDEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.
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Ress Life Investments A/S Nybrogade 12 DK-1203 Copenhagen K Denmark CVR nr. 33593163 www.resslifeinvestments.com
To: Nasdaq Copenhagen Date: 16 April 2025
Corporate Announcement 15/2025
Ress Life Investments A/S announces the events of the annual general meeting held on 16 April 2025.
At the annual general meeting of Ress Life Investments A/S held on Wednesday 16 April 2025, the following decisions were taken:
• The Annual Report for the period 1 January – 31 December 2024 was approved – cf item 1 of the agenda.
• Appropriation of the year’s result was approved – cf item 2 of the agenda.
• Gitte Aggerholm was elected to the Board of Directors. Søren Andersen, Jeppe Buskov and Henrik Franck were re-elected to the Board of Directors – cf item 3 of the agenda.
• The Remuneration Report was approved – cf item 4 of the agenda.
• The remuneration for the Board of Directors for the financial year 2025 was approved – cf item 5 of the agenda.
• Deloitte Statsautoriseret Revisionspartnerselskab was re-elected as auditor – cf item 6 of the agenda.
Questions related to this announcement can be made to the company’s AIF-manager, Resscapital AB.
Contact person: Gustaf Hagerud gustaf.hagerud@resscapital.com Tel + 46 8 545 282 27
SAN SALVADOR, El Salvador, April 16, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has added support for both spot and futures trading of Pax Gold (PAXG), a tokenized version of physical gold. This move comes amid renewed global interest in gold as a hedge against market volatility.
PAXG is issued by Paxos and backed 1:1 by physical gold, with each token representing one ounce stored in a secure vault. As gold prices surge beyond $3,200 in response to rising geopolitical tensions, digital gold has emerged as a practical safe-haven for on-chain users. By integrating PAXG, Bitget Wallet provides a seamless way for Web3 participants to preserve value without leaving the blockchain — combining the stability of gold with the accessibility of crypto.
To further drive engagement, Bitget Wallet has launched a limited-time trading campaign featuring a $9,000 prize pool, with additional rewards available for new users. From April 12 to April 20, users can earn the rewards by trading PAXG via Bitget Wallet’s Swap feature or its futures trading interface powered by tatadex, the wallet’s built-in decentralized engine for onchain derivatives.
As a multi-chain wallet supporting over 130 blockchains and a million tokens, Bitget Wallet delivers a secure, simple, and seamless trading experience. Its infrastructure includes one-click cross-chain swaps, gas optimization, MEV protection, and smart contract risk detection — features designed to streamline trading while maintaining high standards of user safety and accessibility.
“As traditional finance and Web3 converge, we believe digital access to real-world assets like gold should be effortless,” said Alvin Kan, COO of Bitget Wallet. “With this campaign, we’re giving users an easy way to tap into the gold narrative while enjoying the full benefits of onchain trading.“
About Bitget Wallet Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser and crypto payment solutions. Supporting over 130 blockchains, 20,000+ DApps, and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets.
SHENZHEN, China, April 16, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced the official launch of the Hong Kong edition of its verification service, JVerification (“JVerification (HK)”). As digital transformation continues to accelerate globally, the demand for seamless and secure cross-border services has become a top priority for developers. With this latest release, Aurora Mobile provides developers with a more efficient and secure verification solution to help businesses expand into the Hong Kong market.
JVerification (HK): A Next-Level Cross-Border Login and Verification Solution
Based on Aurora Mobile’s proven verification services, JVerification (HK) is specifically tailored for the Hong Kong market. With an upgraded SDK, it now fully supports two major scenarios:
Login and verification for Hong Kong mobile numbers within Hong Kong
Login and verification for Hong Kong mobile numbers within Mainland China
By streamlining the user verification process, JVerification (HK) enables fast and secure one-click login and verification, providing a seamless user experience with no complicated steps.
Technical Strength and Reliability: Aurora Mobile’s Core Advantages
JVerification (HK) leverages China Mobile’s SDK to provide robust technical support in Hong Kong. China Mobile’s well-established network infrastructure and expert local team offer a rock-solid foundation for service reliability and performance.
Quick Response: Even during peak traffic periods, login requests are processed quickly, ensuring a smooth login experience.
Security and Reliability: JVerification (HK) upholds strict technical standards and employs robust data protection mechanisms to ensure user privacy and data integrity.
The First Step in Expanding Cross-Border Verification
The launch of JVerification (HK) marks Aurora Mobile’s first major step into cross-border verification services. Looking ahead, the Company plans to expand service scenarios to enable “Mainland China mobile number logins in Hong Kong,” with the aim of refining its cross-border verification services and meeting the diverse business needs of developers.
This expansion will support:
Mainland Chinese developers going global: Helping mainland Chinese developers tap into the Hong Kong market as a gateway for overseas expansion and to enhance their global competitiveness.
Hong Kong and overseas developers: Providing Hong Kong and global developers with a more efficient verification tool to make local apps more competitive.
Full-Spectrum Technical Support for Developers
Aurora Mobile is committed to a developer-first approach and provides a professional technical support team that is available to assist developers with any issues during the integration process. From consulting to implementation, Aurora Mobile offers developers comprehensive support to ensure a smooth service launch.
About Aurora Mobile Limited
Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.
For more information, please contact:
Aurora Mobile Limited E-mail: ir@jiguang.cn
Christensen
In China Ms. Xiaoyan Su Phone: +86-10-5900-1548 E-mail: Xiaoyan.Su@christensencomms.com
In US Ms. Linda Bergkamp Phone: +1-480-614-3004 Email: linda.bergkamp@christensencomms.com
SINGAPORE, April 16, 2025 (GLOBE NEWSWIRE) — CURRENC Group Inc. (Nasdaq: CURR) (“CURRENC” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced its financial results for the full year ended December 31, 2024.
Recent Business Highlights CURRENC launched its strategic business transformation featuring several AI-driven initiatives. These projects position the Company at the forefront of AI innovation, create significant cross-selling opportunities and reinforce the Company’s commitment to delivering cutting-edge financial solutions globally.
Launched SEAMLESS AI Call Centre Solutions (“Text AI,” “Voice AI,” and “Avatar AI”) to provide 24/7, multilingual virtual support;
Unveiled “AI Staff for Hire,” a suite of customizable AI Agents for tasks such as compliance, KYC, and HR;
Announced plans to develop a 500MW hyperscale AI data center in Malaysia;
Partnered with ARC Group to establish a $100 million AI-Focused Infrastructure & Investment Fund;
Secured a landmark contract with Coin Cove to deploy comprehensive AI-powered electronic banking services.
Full Year 2024 Financial Highlights
Total Processing Value (TPV) through Tranglo was US$5.14 billion for full year 2024, increasing by 13.2% year-over-year. Total number of transactions increased to 11.4 million for full year 2024 from 11.0 million for full year 2023.
Total revenues excluding TNG Asia and GEA1 were US$42.0 million for full year 2024, representing a year-over-year decrease of 3.4%. The decrease was mainly due to the 23.8% decline in global airtime revenue. As TNG Asia and GEA were divested during the third quarter, going forward, the Company’s total revenues will be comprised mainly of revenues contributed by Tranglo’s remittance and global airtime businesses and WalletKu’s Indonesian airtime business.
For the full-year period ended December 31,
2024
2023
$
$
(dollars in thousands)
Remittance revenue excluding TNG Asia & GEA
18,174
17,116
Global Airtime Revenue
9,336
12,188
Indonesian Airtime Revenue
14,505
14,211
Total Revenue excluding TNG Asia & GEA
42,015
43,515
Total remittance revenues excluding TNG Asia and GEA, i.e. remittance revenue contributed by Tranglo, were US$18.2 million for full year 2024, up 6.4% year-over-year. While Tranglo’s overall take rate declined to 0.37% in 2024 from 0.43% in 2023 due to intense market competition, its TPV increased by 13.2% to $5.14 billion, driving the increase in revenue. For full year 2024, ODL flows represented only 4.5% of Tranglo’s TPV.
CURRENC’s global airtime transfer revenues were US$9.3 million for full year 2024, representing a year-over-year decrease of 23.8%. The growing availability of free Wi-Fi in Southeast Asian countries, especially Malaysia and Indonesia, has led to declining demand for Malaysia-Indonesia airtime transfers, resulting in a decline in Tranglo’s global airtime business in 2024. As CURRENC expects this trend to continue in South East Asian markets, the Company’s management plans to deemphasize airtime transfer and reallocate its resources and capital to expand the remittance business.
Total direct costs of revenue excluding TNG Asia and GEA were US$28.9 million for full year 2024, representing a year-over-year decrease of 8%.
For the full-year period ended December 31,
2024
2023
$
$
(dollars in thousands)
Remittance direct costs excluding TNG Asia & GEA
6,878
7,168
Global Airtime Direct Costs
8,089
10,744
Indonesian Airtime Direct Costs
13,910
13,463
Total Direct Costs excluding TNG Asia & GEA
28,877
31,375
The direct payout rate for Tranglo’s remittance business improved to 0.12% for 2024 from 0.15% for 2023. Therefore, although Tranglo’s TPV increased by 13.2%, its direct remittance costs declined by 4.2%.
Gross profit margin for the remittance business excluding TNG Asia and GEA was 62%, compared to 58% for 2023. CURRENC’s overall gross profit margin ratio for full year 2024 was 31%, compared to 28% for 2023.
Total operating expenses increased to $42.0 million for full year 2024 from $24.0 million for full year 2023. The substantial increase was mainly due to expenses of $20.9 million in recognition of the incentive shares granted to employees upon the completion of the INFINT SPAC merger, and $1 million in recognition of shares granted to Roth for their services as Capital Market Advisor.
As CURRENC divested TNG Asia and GEA in August and July 2024, respectively, its operating costs going forward will reflect the operating costs of Tranglo, WalletKu and the Company’s headquarters only. Also, as CURRENC rolls out its new AI initiatives, operating costs in relation to these new businesses will be incurred from year 2025 onwards. The new AI businesses are also expected to bring in new revenues in the year 2025 onwards.
Tranglo’s operating costs for full year 2024 were $12.9 million, representing an increase of 4.9% from $12.3 million for full year 2023, in line with TPV growth.
WalletKu’s operating costs were $1.2 million for full year 2024, as compared to $1.5 million for full year 2023.
Legal and professional fees decreased to $1.7 million for the full year of 2024, from $4.7 million in 2023, due to the completion of the INFINT SPAC merger and the cessation of related legal expenses.
Other Loss totaled $2.2 million for full year 2024, mainly contributed by:
$20.5 million in recognized gain upon the divestiture of GEA;
A goodwill impairment loss of $5.4 million attributable to WalletKu;
A goodwill impairment loss of $9.5 million attributable to Tranglo;
Impairment of Intangible assets for TNG Asia and GEA of $5.6 million; and
An impairment loss of $3.2 million for the impairment of the intercompany balance.
EBITDA analysis
For the full-year period ended December 31, 2024
Tranglo
WalletKu
TNG Asia and GEA
Headquarters and adjustments
Group Total
(dollars in thousands)
Net income (loss)
2,215
(1,137
)
(3,740
)
(36,165
)
(38,827
)
Add:
Income tax expenses
535
413
–
(370
)
578
Interest expense, net
27
1,762
6,726
8,515
EBIT
2,750
(697
)
(1,978
)
(29,809
)
(29,734
)
Depreciation and amortization
–
–
–
–
3,280
EBITDA
2,750
(697
)
(1,978
)
(29,809
)
(26,454
)
The Company’s total EBITDA for full year 2024 including TNG Asia and GEA was a loss of $26.5 million.
Tranglo and WalletKu’s combined EBITDA for 2024 was a profit of $2.05 million.
TNG Asia and GEA’s combined losses had no impact on the Company’s results from the fourth quarter of 2024 onwards as they were divested before the completion of the de-SPAC merger.
Headquarters expenses and adjustments recorded an EBIT loss of $29.8 million, mainly contributed by:
$20.9 million in “Operating Expenses” in recognition of the incentive shares granted upon completion of the de-SPAC merger;
$1 million in “Operating Expenses” in recognition of the shares granted to Roth for their services as Capital Market Advisor;
A loss of $3.2 million recognized as “Other Income/Loss” incurred by headquarters;
Headquarters’ legal expenses of $1.4 million, mostly related to the de-SPAC merger;
Intangible Asset amortization of $1.5 million attributable to Tranglo; and
Rental and general administrative expenses of around $1.8 million.
For the full-year period ended December 31, 2023
Tranglo
WalletKu
TNG Asia and GEA
Headquarters and adjustments
Group Total
(dollars in thousands)
Net income (loss)
2,659
(837
)
(4,835
)
(11,405
)
(14,418
)
Add:
Income tax expenses
843
50
–
(370
)
523
Interest expense, net
–
–
3,057
4,946
8,003
EBIT
3,502
(787
)
(1,778
)
(6,829
)
(5,892
)
Depreciation and amortization
–
–
–
–
3,817
EBITDA
3,502
(787
)
(1,778
)
(6,829
)
(2,075
)
Net loss was US$38.8 million for the full year of 2024, mainly contributed by the net loss of $36.2 million incurred by headquarters and adjustments, as well as a combined net loss of $3.7 million contributed by TNG Asia and GEA.
______________________________ 1 CURRENC divested TNG Asia and GEA in August 2024 and July 2024, respectively. As such, from the fourth quarter of 2024 onward, only Tranglo’s (digital remittance and global airtime transfer businesses) and WalletKu’s (Indonesian airtime business) results will be consolidated and reported in the Company’s financial statements.
Management Comments “2024 was a year of evolution and transformation for CURRENC,” said Alex Kong, Founder and Executive Chairman of CURRENC. “In our first months as a publicly listed company, we took decisive steps to streamline our organization and focus on core strengths while also moving into the AI space. Through our cutting-edge AI initiatives such as SEAMLESS AI Call Centre Solutions and AI Staff for Hire, we now offer comprehensive AI solutions for financial institutions to revolutionize their operational platforms and efficiently transform their businesses. As these products broaden our market reach, we expect to seize rising cross-selling opportunities and realize substantial synergies with our remittance business, propelling the Company’s holistic growth. Moreover, our planned 500MW hyperscale AI Data Center in Malaysia and the $100 million CURR-ARC AI Fund will accelerate our AI business’s development while driving industry-wide progress. We are confident these strategic efforts will cement our leadership in AI-powered fintech and create lasting value for our shareholders, partners, and end-users worldwide.”
Ronnie Hui, Chief Executive Officer of CURRENC, added, “Our mainstream digital remittance business remained resilient in 2024, demonstrated by consistent TPV growth. This growth resulted in a 6.4% increase in total remittance revenues despite the ongoing decline in overall take rate due to intense market competition. Going forward, we aim to maintain the overall take rate and drive further increases in TPV, boosting remittance revenue growth. Meanwhile, as we sign new clients for our AI services, we will build on these partnerships to expand our remittance business into new geographical markets and sectors, further accelerating its development. On a Group level, while we recorded an EBIDTA loss for full year 2024, this was largely due to non-cash headquarters expenses such as incentive share expenses and goodwill impairment losses, as well as de-SPAC merger expenses. Our fundamentals remain strong and we do not expect to incur such expenses in future years. Looking ahead to 2025 and beyond, we are excited to unlock the Company’s growth potential as we advance our transformation from a leading regional remittance hub to a global AI pioneer.”
Recent Developments 1. CURRENC Debuts SEAMLESS AI Call Centre Solutions (January 8, 2025) CURRENC introduced “Text AI,” “Voice AI,” and “Avatar AI” to enable 24/7, cost-effective virtual support for financial institutions, government agencies, and telecom providers. These tools handle everything from routine inquiries to advanced KYC processes, increasing efficiency and enhancing customer satisfaction. The suite is available in over ten languages and easily integrates into mobile apps, delivering real-time conversation and multilingual support. SEAMLESS AI also offers an avenue to expand into debt collection, marketing, and other enterprise-driven use cases.
2. CURRENC to Develop 500MW Hyperscale AI Data Center in Malaysia (March 18, 2025) The Company plans to acquire 100 acres of land in Johor, Malaysia, to build one of Southeast Asia’s largest AI data centers, with Phase 1 (100MW) slated for completion by the end of 2026. The campus will offer co-location and wholesale leasing to hyperscalers, enterprise clients, and other data center users, supporting financial institutions as they adopt AI at scale. Construction will begin once long-term anchor tenants commit to a significant portion of planned capacity. Management expects this AIDC to bolster the Company’s AI offerings and reduce barriers to AI deployment worldwide.
3. CURRENC Group and ARC Group Jointly Launch $100 Million AI-Focused Infrastructure & Investment Fund (March 18, 2025) CURR-ARC AI Fund 1 aims to invest in AI data centers (AIDC), green energy, and computing power development globally. Eighty percent of the Fund’s capital will go toward AI computing power and infrastructure projects, including CURRENC’s planned 500MW AIDC in Malaysia. The remaining 20% will focus on emerging enterprises in AI ecosystems, fintech, and AI-driven solutions. This partnership supports CURRENC’s broader strategy to create a sustainable ecosystem that drives global AI and fintech innovation.
4. CURRENC’s SEAMLESS AI Lab Unveils “AI Staff for Hire” Platform (March 27, 2025) “AI Staff for Hire” is a new AI-powered solution featuring pre-built Agents tailored to key finance industry tasks, including customer support, KYC, compliance, and HR management. These Agents allow businesses to scale their operations without expanding headcount, providing 24/7 multilingual service and real-time analytics for improved engagement. This launch marks a major step in CURRENC’s strategy to revolutionize global financial services through AI, building on the success of SEAMLESS AI Call Centre Solutions. CURRENC also expects to onboard new clients in emerging markets, creating synergy by cross-selling digital remittance and airtime transfer services.
5. CURRENC Empowers Coin Cove with AI-Powered Electronic Banking Services Platform (March 27, 2025) CURRENC has secured a groundbreaking contract to provide Coin Cove with a comprehensive, AI-driven solution set, encompassing a multi-asset trading platform, SEAMLESS AI Call Centre technology, training, compliance, and MasterCard issuance. Coin Cove’s platform will leverage “AI Staff for Hire,” allowing for 24/7 personalized customer support and automated staff training. By integrating advanced risk management and real-time market insights, this initiative enhances user experience and strengthens compliance. This partnership marks CURRENC’s continued expansion into global electronic banking, with plans to cross-sell its remittance services and further shape the future of AI-driven financial solutions.
Non-GAAP Financial Measures To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with GAAP, it uses EBITDA, a non-GAAP financial measure as described below, to understand and evaluate its core operating performance. This non-GAAP financial measure, which may differ from similarly titled measures used by other companies, is presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
EBITDA is defined as net loss before interest, taxes, depreciation, and amortization. CURRENC believes that EBITDA provides useful information to investors and others in understanding and evaluating its operating results. This non-GAAP financial measure eliminates the impact of items that CURRENC does not consider indicative of the performance of its business. While CURRENC believes that this non-GAAP financial measure is useful in evaluating its business, this information should be considered supplemental in nature and is not meant as a substitute for the related financial information prepared in accordance with GAAP.
About CURRENC Group Inc. CURRENC Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.
For additional information, please refer to the CURRENC website https://www.currencgroup.com and the annual report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission.
Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
Investor & Media Contact CURRENC Group Investor Relations Email: investors@currencgroup.com
SOURCE: CURRENC Group Inc.
CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Full year ended December 31,
2024
2023
US$
US$
Revenue
46,435,412
53,255,361
Cost of revenue
(31,843,467
)
(35,899,057
)
Gross profit
14,591,945
17,356,304
Selling expenses
(13,408
)
(25,880
)
General and administrative expenses
(41,954,296
)
(23,976,209
)
Loss from operations
(27,375,759
)
(6,645,785
)
Finance costs, net
(8,515,214
)
(8,002,552
)
Other income
(2,193,865
)
839,606
Other expenses
(163,621
)
(85,574
)
Loss before income tax
(38,248,459
)
(13,894,305
)
Income tax expense
(578,303
)
(523,481
)
Net loss
(38,826,762
)
(14,417,786
)
Net income attributable to non-controlling interests
(648,559
)
(888,764
)
Net loss attributable to CURRENC Group Inc.
(39,475,321
)
(15,306,550
)
Net loss per share, basic and diluted (1)
$
(1.03
)
$
(0.45
)
Shares used in net loss per share computation, basic and diluted (1)
38,163,168
33,980,753
Other comprehensive loss:
Foreign currency translation adjustments
(209,531
)
10,608
Total comprehensive loss
(39,036,293
)
(14,407,178
)
Total comprehensive loss (income) attributable to non-controlling interests
(649,980
)
(871,614
)
Total comprehensive loss attributable to CURRENC Group Inc.
(39,686,273
)
(15,278,792
)
(1)
Retrospectively restated to reflect Reverse Recapitalization
CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
December 31, 2024
December 31, 2023
US$
US$
ASSETS
Current assets:
Cash and cash equivalents
63,821,397
48,516,765
Short-term investments
–
300,000
Restricted cash
40,742
5,428,790
Accounts receivable, net
2,115,681
2,450,871
Prepayments to remittance agents
–
137,854
Escrow money receivable
–
5,014,829
Amounts due from related parties
560,823
7,287,376
Prepayments, receivables and other assets
24,738,392
34,225,239
Total current assets
91,277,035
103,361,724
Non-current assets:
Investment in an equity security
–
100,000
Equipment and software, net
1,055,520
1,016,490
Right-of-use asset
349,240
154,234
Intangible assets
3,386,117
9,191,713
Goodwill
12,059,428
27,001,383
Deferred tax assets
342,822
664,888
Total non-current assets:
17,193,127
38,128,708
Total assets
108,470,162
141,490,432
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Borrowings
20,150,058
17,804,093
Receivable factoring
258,415
423,483
Escrow money payable
–
360,207
Client money payable
–
4,645,290
Accounts payable, accruals and other payables
59,119,916
53,988,231
Amounts due to related parties
67,697,074
86,488,519
Convertible bonds and notes
1,750,000
10,000,000
Lease liabilities
171,909
152,325
Total current liabilities
149,147,372
173,862,148
Non-current liabilities:
Borrowings
–
2,506,974
Deferred tax liabilities
876,912
1,246,760
Employee benefit obligation
45,289
59,849
Lease liabilities
156,647
–
Total non-current liabilities:
1,078,848
3,813,583
Total liabilities
150,226,220
177,675,731
Commitments and contingencies
Mezzanine equity
–
2,957,948
Shareholders’ deficit:
Ordinary shares (US$0.0001 par value; 550,000,000 shares authorized; 46,527,999 and 33,980,753 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively) (1)
4,653
3,398
Additional paid-in capital (1)
65,638,838
29,227,005
Accumulated deficit
(131,522,902
)
(92,075,379
)
Accumulated other Comprehensive (Loss)/Income
(108,122
)
88,366
Total shareholders’ deficit attributable to CURRENC Group Inc.
(65,987,533
)
(62,756,610
)
Non-controlling interests
24,231,475
23,613,363
Total deficit
(41,756,058
)
(39,143,247
)
Total liabilities, mezzanine equity and shareholders’ deficit
108,470,162
141,490,432
(1)
Retrospectively restated to reflect Reverse Recapitalization
CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Years ended December 31,
2024
2023
US$
US$
Cash flows from operating activities:
Net loss
(38,826,762
)
(14,417,786
)
Adjustments to reconcile net loss to net cash provided by operating activities:
Non-cash expense for share-based compensation
20,869,721
—
Non-cash expense for share issued for service providers
1,000,000
—
Non-cash offering costs for convertible note
2,512,000
—
Non-cash finance cost for debt conversion
340,159
—
Amortization of discount on convertible bonds
—
807,860
Depreciation of equipment
525,295
607,138
Depreciation of right-of-use assets
185,107
183,198
Amortization of intangible assets
2,186,175
3,200,843
Reversal of provision for doubtful debts
143,748
—
Impairment loss on receivables
3,158,042
—
Gain on disposal of subsidiaries
(21,738,102
)
—
Goodwill impairment
14,941,955
—
Deferred income taxes
127,660
494,737
Gain on disposal of fixed assets
—
(36,519
)
Unrealized foreign exchange loss/(gain)
(659,467
)
(65,981
)
Changes in operating assets and liabilities:
Accounts receivable
140,559
605,202
Prepayments to remittance agents
98,603
(45,631
)
Amounts due to immediate holding company
(393,227
)
(391,432
)
Amounts due from related parties
4,183,438
(5,348,525
)
Prepayments, receivables and other assets
7,980,401
2,502,972
Escrow money payable
10,386
80,006
Client money payable
(416,711
)
(1,593,194
)
Accounts payable, accruals and other payables
14,220,717
(4,827,110
)
Amounts due to related parties
(6,925,748
)
3,149,825
Lease liabilities
(213,709
)
(192,097
)
Net cash provided by/(used in) operating activities
3,450,240
(15,286,494
)
Cash flows from investing activities:
Purchases of property, plant and equipment
(576,674
)
(291,856
)
Proceed received from disposal of property, plant and equipment
—
36,679
Decrease in short-term investments
—
1,700,000
Cash acquired from business combination
43,508
—
Acquisition of a subsidiary
(31,868
)
—
Net cash (used in)/provided by investing activities
(565,034
)
1,444,823
Cash flows from financing activities:
Proceeds from borrowings
640,935
1,251,752
Repayment of borrowings
(221,258
)
(2,212,067
)
Proceeds from receivable factoring
2,030,659
2,210,415
Repayment of receivable factoring
(2,183,787
)
(2,447,748
)
Proceeds from convertible bonds
1,750,000
—
Net cash provided by/(used in) financing activities
2,016,549
(1,197,648
)
Net increase/(decrease) in cash and cash equivalents
4,901,755
(15,039,319
)
Cash and cash equivalents, restricted cash and escrow money receivable at beginning of year
58,960,384
73,999,703
Cash and cash equivalents, restricted cash and escrow money receivable at end of year
63,862,139
58,960,384
Supplemental disclosure of cash flow information:
Income taxes received/(paid)
(445,530
)
761,333
Interest paid
(1,073,407
)
(1,819,174
)
CURRENC GROUP INC. AND SUBSIDIARIES
EBITDA Analysis for the Full Year of 2024 and 2023
For the full year period ended December 31, 2024
Tranglo2
WalletKu3
TNG Asia and GEA1
Headquarters and adjustments
Group Total
(dollars in thousands)
Net income (loss)
2,215
(1,137
)
(3,740
)
(36,165
)
(38,827
)
Add:
Income tax expenses
535
413
–
(370
)
578
Interest expense, net
27
1,762
6,726
8,515
EBIT
2,750
(697
)
(1,978
)
(29,809
)
(29,734
)
Depreciation and amortization
–
–
–
–
3,280
EBITDA
2,750
(697
)
(1,978
)
(29,809
)
(26,454
)
For the full year period ended December 31, 2023
Tranglo2
WalletKu3
TNG Asia and GEA
Headquarters and adjustments
Group Total
(dollars in thousands)
Net income (loss)
2,659
(837
)
(4,835
)
(11,405
)
(14,418
)
Add:
Income tax expenses
843
50
–
(370
)
523
Interest expense, net
–
–
3,057
4,946
8,003
EBIT
3,502
(787
)
(1,778
)
(6,829
)
(5,892
)
Depreciation and amortization
–
–
–
–
3,817
EBITDA
3,502
(787
)
(1,778
)
(6,829
)
(2,075
)
1 TNG Asia and GEA were divested in August 2024 and July 2024, respectively. 2 Tranglo maintained a positive EBITDA for the full year of 2024 and 2023. 3 Tranglo and WalletKu maintained a combined positive EBITDA for the full year of 2024 and 2023.
Source: Moscow Government – Government of Moscow –
In August 2024, an online platform began operating in the capital “Active Citizen for Children”Today, it features over 240 educational quizzes, games, comics, and videos. The sections introduce the history and cultural sites of the city, festivals, and major projects for young Muscovites.
“The platform has already been visited more than 1.4 million times. It is most often used by children aged 11 to 13,” she noted.
For example, those interested are invited to take quizzes dedicated to volunteering, sports, and the capital’s attractions: the Moscow Zoo, the Moskino Cinema Park, VDNKh, and others.
The site also contains videos of creative master classes, stories about museum exhibits and young city residents who have won various competitions.
The comics describe Moscow’s electronic projects, including “Active Citizen” and “City of Ideas.” One section contains a simulator for solving mathematical problems at speed, and another contains games that develop memory and ingenuity.
For successfully completing tasks, users receive points. They can then be exchanged for souvenirs, tickets for excursions and viewing platforms, discounts in cafes. Detailed information is on the “Prizes” page.
New platform features
The functions of the online platform are regularly expanded. One of the new options is choosing the site design you like, for example, with images of animals or a city.
Now, kids can also install their own avatar, created using artificial intelligence. It will be displayed on the main page.
The Active Citizen for Children project is aimed at young city residents aged six to 14 years.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
Source: People’s Republic of China – State Council News
China’s AI development achievements catch spotlight at Canton Fair
Updated: April 16, 2025 15:33Xinhua
A foreign buyer watches a pet robot and an educational robot at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. The 137th edition of the Canton Fair kicked off on Tuesday, with the number of export exhibitors exceeding 30,000 for the first time in the history of this famous event. The first phase of the Canton Fair, held from April 15 to 19, focuses on advanced manufacturing and for the first time added a special zone for service robots, showcasing the latest achievements of China’s AI development efforts. [Photo/Xinhua]Buyers watch the performances of the robot dogs at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]Foreign buyers interact with a robot dog at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]This photo taken on April 15, 2025 shows a photovoltaic panel cleaning robot and a high-altitude curtain wall cleaning robot at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province. [Photo/Xinhua]A foreign buyer tries gesture control technology at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]People watch the demonstrations of intelligent sorting robots at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]Foreign buyers experience robots-made coffee at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]This photo taken on April 15, 2025 shows the exhibits of robotic dexterous hands at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province. [Photo/Xinhua]People watch a humanoid robot demonstration at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]A foreign buyer has business talks at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]People visit the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]Buyers watch the integrated patrol robot for inspection and combat at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]Buyers look at a firefighting robot at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]Foreign buyers look at a humanoid robot at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province, April 15, 2025. [Photo/Xinhua]This photo taken on April 15, 2025 shows a robotic arm demonstrating dexterous hand functions at the Service Robots Zone during the 137th edition of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, south China’s Guangdong Province. [Photo/Xinhua]
Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the PRIIPS KIID documentation available on the Company’s website, www.resslifeinvestments.com.
As per 31 March 2025, the number of life insurance policies owned is 377. The total face value of the portfolio is USD 1.1 billion.
Portfolio composition as of 2025-03-31
Top 10 Carriers
Weight % of portfolio value
John Hancock Life Insurance Company USA
16.3%
Lincoln National Life Insurance Company
15.0%
AXA Equitable Life Insurance Company
6.3%
American General Life Insurance Company
4.8%
Pruco Life Insurance Company Inc
4.5%
Brighthouse Life Insurance Company
4.0%
Pacific Life Insurance Company
3.7%
Protective Life Insurance Company
3.3%
Transamerica Life Insurance Company
3.2%
Principal Life Insurance Company
3.0%
Carrier Rating
Weight % of face value
A++
6.7%
A+
46.0%
A
42.2%
A-
0.1%
B++
4.3%
B+
0.0%
B
0.0%
B-
0.2%
C++
0.5%
Top 10 States
Weight % of face value
FLORIDA
15.7%
CALIFORNIA
12.3%
NEW YORK
7.4%
PENNSYLVANIA
6.8%
TEXAS
6.2%
MASSACHUSETTS
4.7%
OHIO
4.4%
NEW JERSEY
4.1%
MISSOURI
3.8%
ARIZONA
3.5%
Face Group
Weight % of face value
100,000-250,000
0.2%
250,001-500,000
1.5%
500,001-1,000,000
8.3%
1,000,001-2,000,000
13.4%
2,000,001-3,000,000
10.7%
3,000,001-5,000,000
22.2%
5,000,001-10,000,000
29.3%
10,000,001-15,000,000
7.3%
15,000,001-
7.1%
Age Group
Weight % of face value
< 65
5.4%
65 – 69
13.7%
70 – 74
22.5%
75 – 79
19.8%
80 – 84
15.5%
85 – 89
12.6%
90 – 94
7.6%
95 <
2.9%
Gender
Weight % of face value
Female
13.8%
Male
63.3%
Joint
22.9%
Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Information Document available on the Company’s website, www.resslifeinvestments.com.
Arowana’s B Corp holding company will provide a succession and ownership transition pathway for B Corp founders seeking to exit but retain ethos of their businesses
Investment focus will initially be on ASEAN region but in time look to expand to other developing economies across MENA and Latin American regions with large and growing populations
SINGAPORE, April 16, 2025 (GLOBE NEWSWIRE) — Arowana & Co. (“Arowana”), the global B Corporation investment group, announced today that it has launched a holding company headquartered in Singapore to specifically invest in companies committed to the B Corp triple bottom line of People, Planet and Profit across the ASEAN (Association of Southeast Asian Nations) region.
The primary purpose of this holding company, AIC Group Holdings, is to provide companies that are B Corp or want to become B Corp with an ownership succession pathway, which will respect and perpetuate the B Corp ethos and culture instilled by their founders. AIC Group Holdings is privately held.
In tandem with the launch of the holding company, Arowana has appointed Andrew Kassoy, co-founder of B Lab Global, the non-profit behind the B Corp movement, to the Advisory Board of AIC Group Holdings. In addition, Thomas Ng, a leading B Corp entrepreneur and founder of Genashtim, a fast-growing global social enterprise, has agreed to join the Advisory Board.
Arowana founder and chairman, Kevin Chin, commented: “We have been working on optimising a structure for two years and believe a holding company that has no restrictions in terms of investment entry and exit horizons is the best model that matches the succession and growth objectives of B Corp founders and their businesses. As a B Corp ourselves, we appreciate the dilemma that founders face in this regard. We consider Singapore to be the ideal headquarters for this holding company as we see many enterprises across the fast-growing ASEAN region that would be a good fit. This is consistent with Arowana’s broader strategy of pivoting our focus to developing markets across ASEAN and, in due time, Africa and Latin America with large and growing populations and economies.”
He further added: “I am honoured that two luminaries of the B Corp movement, Andrew Kassoy and Thomas Ng, have agreed to join the Arowana holding company advisory board members. Not only are Andrew and Thomas great stewards, but also world-class entrepreneurs who have led the scale-up of high-growth global enterprises. We expect to announce further additions to the advisory board and the holding company team in due course. Meanwhile, our team is already in exclusive due diligence processes on four proprietary investment opportunities in the ASEAN region that have come about because of Arowana’s veritable commitment to the B Corp ethos.”
Andrew Kassoy, co-founder of B Lab Global, commented: “Since the earliest days of the B Corp movement, we have seen first-hand the issues of succession and ownership transition faced by B Corp founders, especially when deliberating on acquisition proposals from non-B Corp entities. I am excited to join the Arowana B Corp holding company advisory board as I share the vision that Kevin Chin has in creating a permanent capital holding company structure with a genuine B Corp ethos that provides a compelling option for B Corp founders exploring succession and exit.”
Thomas Ng, B Corp steward and founder, said: “Having known Kevin Chin for some time and seeing first-hand his steadfast commitment to the B Corp values and mission, I am delighted to be joining the Arowana B Corp holding company advisory board. Across Genashtim’s operations in the ASEAN, African and Latin America regions, we see many businesses that the Arowana B Corp holding company would represent an attractive alternative to consider for succession and ownership transition.”
About Arowana
Founded in 2007, Arowana is a global investment group that ranks amongst the world’s leading B Corporations. Arowana first certified as a B Corp in 2018 and recertified in 2023. Arowana’s investment strategy today is focussed on developing markets with large and growing populations where it can best deliver on its core purpose of growing people, companies and value whilst maximising the B Corp triple bottom line of people, planet and profit. Arowana presently has operating companies and investments in Southeast Asia, the Middle East, Africa, the United Kingdom, the European Union and Oceania regions.
Växjö, Sweden, April 16,2025* * *JLT Mobile Computers, a leading provider of rugged computers for demanding environments, publishes its 2024 annual report today.
Report in brief
Order intake MSEK 103.0 (135.4)
Net revenues MSEK 118.4 (158.8)
Gross margin 45.8% (41.4)
EBITDA -2.1 MSEK (4.8)
Operating profit MSEK -9.7 (1.9)
Profit after taxes MSEK -7.7 (1.6)
Cash flow +7.2 MSEK (-21.5)
No dividend proposed (0.00)
Summary
A Challenging Year for the Industry, with Signs of Recovery
The year was characterized by low demand in warehousing/logistics, one of JLT’s largest target markets, which led to reduced order intake and net sales. In 2024, the company conducted a strategic review to address the challenges during the year. Software development has been integrated with other product development and the operations of the subsidiary JLT Software Solutions AB have been discontinued. The new structure is cost-effective and market-oriented which enables efficient maintenance and customer-driven development of the JLT software solutions together with the company’s other product portfolio.
Capitalized development expenses were written down, which, together with other decommissioning costs, impacted on the Group’s earnings in the fourth quarter by MSEK 5.0, of which MSEK 1.2 will affect cash flow. Despite non-recurring costs, organizational and R&D expenses decreased by MSEK 5.4 for the year.
To strengthen its position in the market, JLT has launched upgraded versions of its core products and invested in sales and marketing. The company has recruited a senior marketing manager for its US subsidiary and expanded the organization and carried out a planned generational change in the leadership, of its French subsidiary.
JLT has actively worked to reduce inventory and improve cash flow, which has resulted in an increase in cash flow of MSEK 7.2.
In 2024, JLT celebrated thirty years as a player in the rugged computing industry and continues to adapt to industry trends and customer needs.
In early 2025, the market rebounded, and the company won several major deals in the first months of the year. With the implemented measures and structural changes, JLT looks forward to a solid foundation for growth as the market recovers in 2025.
The annual report is attached to this press release and published on JLT’s website,jltmobile.com.
Printed copies, English and Swedish, can be requested over email toinvestor@jltmobile.com, by phone: +46 470 53 03 00, or by mail to the following address:
JLT Mobile Computers AB (publ) Isbjörnsvägen 3 352 45 Växjö, SWEDEN
About JLT Mobile Computers
JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. 30 years of development and manufacturing experience have enabled JLT to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more atjltmobile.com.
ASML reports €7.7 billion total net sales and €2.4 billion net income in Q1 2025 2025 total net sales expected to be between €30 billion and €35 billion
VELDHOVEN, the Netherlands, April 16, 2025 – Today, ASML Holding NV (ASML) has published its 2025 first-quarter results.
Q1 total net sales of €7.7 billion, gross margin of 54.0%, net income of €2.4 billion
Quarterly net bookings in Q1 of €3.9 billion2 of which €1.2 billion is EUV
ASML expects Q2 2025 total net sales between €7.2 billion and €7.7 billion, and a gross margin between 50% and 53%3
ASML continues to expect 2025 total net sales to be between €30 billion and €35 billion, with a gross margin between 51% and 53%
(Figures in millions of euros unless otherwise indicated)
Q4 2024
Q1 2025
Total net sales
9,263
7,742
…of which Installed Base Management sales1
2,147
2,001
New lithography systems sold (units)
119
73
Used lithography systems sold (units)
13
4
Net bookings2
7,088
3,936
Gross profit
4,790
4,180
Gross margin (%)
51.7
54.0
Net income
2,693
2,355
EPS (basic; in euros)
6.85
6.00
End-quarter cash and cash equivalents and short-term investments
12,741
9,104
(1) Installed Base Management sales equals our net service and field option sales. (2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted. (3) The bandwidth for Q2 2025 gross margin guidance is larger than usual, given the uncertainty around the impact of tariffs. Numbers have been rounded for readers’ convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com.
CEO statement and outlook “Our first-quarter total net sales came in at €7.7 billion, in line with our guidance. The gross margin was 54.0%, above guidance, driven by a favorable EUV product mix and the achievement of performance milestones. In the first quarter, we shipped our fifth High NA system, and we now have these systems at three customers.
“Our conversations so far with customers support our expectation that 2025 and 2026 will be growth years. However, the recent tariff announcements have increased uncertainty in the macro environment and the situation will remain dynamic for a while. As previously shared, artificial intelligence continues to be the primary growth driver in our industry. It has created a shift in the market dynamics that benefits some customers more than others, contributing to both upside potential and downside risks as reflected in our 2025 revenue range.
“We expect second-quarter total net sales between €7.2 billion and €7.7 billion, with a gross margin between 50% and 53%3. We expect R&D costs of around €1.2 billion and SG&A costs of around €300 million. As we previously communicated, we expect total net sales for the year between €30 billion and €35 billion, with a gross margin between 51% and 53%, subject to the uncertainties mentioned earlier,” said ASML President and Chief Executive Officer Christophe Fouquet.
Update dividend and share buyback program ASML intends to declare a total dividend for the year 2024 of €6.40 per ordinary share, which is a 4.9% increase compared to 2023.
Recognizing the three interim dividends of €1.52 per ordinary share paid in 2024 and 2025, this leads to a final dividend proposal to the Annual General Meeting of €1.84 per ordinary share.
In the first quarter, we purchased around €2.7 billion worth of shares under the current 2022-2025 share buyback program.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML’s website (www.asml.com/investors).
Media Relations contacts
Investor Relations contacts
Monique Mols +31 6 5284 4418
Jim Kavanagh +31 40 268 3938
Willem van Ewijk +31 6 2744 1187
Pete Convertito +1 203 919 1714
Karen Lo +886 9 397 88635
Peter Cheang +886 3 659 6771
Quarterly video interview and investor call With this press release, ASML is publishing a video interview in which CEO Christophe Fouquet and CFO Roger Dassen discuss the 2025 first-quarter and outlook for 2025. This video and the video transcript can be viewed on www.asml.com shortly after the publication of this press release.
An investor call for both investors and the media will be hosted by CEO Christophe Fouquet and CFO Roger Dassen on April 16, 2025 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.
About ASML ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity’s toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 44,100 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.
US GAAP Reporting ASML’s primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly summary US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com.
The consolidated balance sheets of ASML Holding N.V. as of March 30, 2025, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and three months ended March 30, 2025 as presented in this press release are unaudited.
Regulated information This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Forward Looking Statements
This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets and business environment trends, expected growth in the semiconductor industry by 2030, our expectation that AI will be the key driver for the industry and the expected impact of AI demand on our business and results, our expectation that lithography will remain at the heart of customer innovation, expected demand, bookings, outlook of market segments, outlook and expected financial results including expected results for Q2 2025, including net sales, Installed Base Management sales, gross margin, R&D costs, SG&A costs, outlook for full year 2025, including expected full year 2025 total net sales, gross margin, estimated annualized effective tax rate and expected growth in IBM sales, the expectation that 2025 and 2026 will be growth years, statements made at our 2024 Investor Day, including revenue and gross margin opportunity for 2030, statements with respect to the recent US tariff announcements and the expected impact of such tariffs on our business and results, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, statements with respect to our share buyback program, and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans, statements with respect to our ESG strategy and other non- historical statements. You can generally identify these statements by the use of words like “may”, “expect”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward- looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic environment on the semiconductor industry, uncertainty around a market recovery including the timing thereof, the ultimate impact of AI on our industry and business, the impact of inflation, interest rates, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings and our ability to convert bookings into sales, the risk of order cancellation or push outs and restrictions on shipments of ordered systems under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, the impact of the recent tariff announcements, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase program, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2024 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law.
HERE to showcase next-generation, AI-powered mapping and location solutions built for the connected, electric, automated and intelligent vehicle era
Working alongside 30 leading Chinese automakers globally, HERE is the trusted provider for high-quality location data
Shanghai – HERE Technologies, the leading location data and technology platform, today announced its debut participation in Auto Shanghai 2025, one of the world’s premier automotive industry events. HERE is a trusted partner to China’s top automotive companies, delivering high-quality, AI-powered mapping and location data solutions for the Software-Defined Vehicle (SDV) era.
Located at Booth #2B A052, HERE will showcase its latest technologies and offer a range of interactive demos including:
HERE Navigation: The turnkey customizable software solution that delivers a complete navigation experience fit for the digital cockpit.
HERE AI Assistant: The intuitive companion for contextual, real-time and predictive location-aware interactions that leverages generative large language models for an optimized total cost of ownership.
ADAS Cockpit Experience: The immersive experience spanning Navigation, ADAS, NOA and AD domains for a seamless and continuous experience for the driver.
ThunderSoftDemo: Integration of cockpit-driving with multimodal large model capabilities to deliver enhanced functionality and performance.
Supporting Chinese Automaker Innovation and Global Expansion
HERE is a trusted mapping and location data provider for the leading Chinese automakers. Taken together, HERE customers account for 80% of Chinese OEMs export volumes in 2024, including BYD, Geely and SAIC Motor, who are partnering with HERE to accelerate their global expansion. HERE delivers a suite of products tailored to power EVs, Navigation on Autopilot (NOA) and digital cockpit vehicle experiences. HERE enables Chinese automakers to seamlessly scale their global operations, enhance driver safety, and deliver next-generation AI-powered driver experiences for international markets.
HERE delivers a suite of products tailored to power EVs, Navigation on Autopilot (NOA) and digital cockpit vehicle experiences. This includes HERE Automated Driving Zones which allows OEMs to precisely define the Operational Design Domain (ODD) for their ADAS and AD features. With it, they can specify the regions, roads and conditions under which these features can be activated. This tool is essential for safe deployments globally and regulatory compliance. HERE enables Chinese automakers to seamlessly scale their global operations, enhance driver safety, and deliver next-generation AI-powered driver experiences for international markets.
AI-Powered Technologies for the Future of SDVs
At the core of HERE’s innovations is artificial intelligence, transforming how location data is processed, analyzed and delivered to enhance vehicle safety, efficiency and user experiences. HERE’s AI-powered mapping architecture dynamically updates road attributes, delivers fresh speed limit information, traffic conditions, EV route calculations and charge point availability, ensuring drivers receive highly precise and context-aware insights.
Additionally, the recently-unveiled HERE AI Assistant provides natural language-powered, location-aware guidance, transforming the way drivers and passengers interact with vehicle cockpit and navigation experiences.
Deep Local Expertise, Enabling Global Success for Chinese Automakers
As a pioneer in mapping and location technology for 40 years, with digital maps data for more than 200 countries worldwide, HERE combines deep local expertise with global innovation. This unique positioning allows HERE to support Chinese automakers in scaling their technologies and expanding into international markets, and complying with international safety and navigation standards, including the European Union’s Intelligent Speed Assistance regulation.
“HERE has been a trusted partner to global and Chinese automakers for the past 40 years, and is thrilled to be an exhibitor at Auto Shanghai 2025,” said Deon Newman, Senior Vice President and General Manager for Asia Pacific. “We work with leading automakers globally to provide AI-powered location intelligence solutions that deliver the most innovative driver experiences, Navigation on Autopilot (NOA), and automated driving functions.”
One of HERE’s long-standing partners is the Neusoft Corporation. The companies are focused on delivering customized intelligent navigation solutions for global markets, supporting Chinese automakers in meeting diverse international requirements and expanding their global reach.
Guan Xin, General Manager, Neusoft Automotive Innovative Solutions said, “Expanding beyond China comes with unique challenges, from meeting diverse regulatory requirements to ensuring a seamless navigation experience for drivers worldwide. With HERE, we have a trusted partner that helps us localize our solutions while maintaining global consistency. Their AI-powered location technology enables us to deliver smarter, safer and more connected driver experiences as we scale into new markets.”
Attendees of Auto Shanghai 2025 are invited to visit the HERE booth #2B A052 to experience firsthand how HERE’s location intelligence solutions are enabling smarter, safer, and more sustainable mobility.
Follow HERE on WeChat to stay updated on our latest innovations and developments.
Media contacts HERE Technologies Qifei Zhang +86 186 181 18897 rico.zhang@here.com
About HERE Technologies HERE has been a pioneer in mapping and location technology for 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. From autonomous driving and seamless logistics to new mobility experiences, HERE allows its partners and customers to innovate while retaining control over their data and safeguarding privacy. Find out how HERE is moving the world forward at here.com.
Another 64 proposed redundancies were announced by Callaghan Innovation today in its continued disestablishment as part of the Government’s overhaul of the science sector.
Included in the proposed redundancies are 48 scientists working in Callaghan Innovation’s Applied Technologies group.
“There are scientists working in medical technology, artificial intelligence, robotics and mechatronics that are proposed to lose their jobs. New Zealand needs their skills and expertise,” says Public Service Association Te Pūkenga Here Tikanga Mahi National Secretary Fleur Fitzsimons.
“These are experts that could have had a home in the Advanced Technology Public Research Organisation the Government says its planning to establish, we call on the Minister to intervene urgently and make sure we retain these staff in our science system.”
“People with valuable skills are being cast aside, even though their skills are important for the future science system. The Minister has said that the science reforms are not about job losses but you only have to look at Callaghan Innovation to see this simply is not true.”
“Instead, of planning properly the Government pushed the cuts through in a rush leaving talented science professionals with nowhere to go,” Fitzsimons says.
“While Minister Dr Shane Reti did save some scientists’ roles by extending the funding for the Biotechnologies teams out to 30 June 2027, this has not gone far enough,” Fitzsimons says.
Today’s proposed cuts are on top of 43 redundancies progressed from a February proposal in response to the science sector reforms outlined by the then Science, Innovation and Technology Minister Judith Collins. Another 13 roles have been lost through attrition during this time
Looking back further, since July 2024 Callaghan Innovation will have lost 164 roles, 42% of its workforce, which includes redundancies from previous restructures and reduction in roles via attrition.
The coalition Government changes aim to merge the seven CRIs into three PROs, establish a fourth Advanced Technology PRO, and disestablish Callaghan Innovation.
“Today’s announcement underscores the poorly planned way in which changes in the public science sector are being implemented. There’s been little consideration as to how roles might be retained or transferred to the new PROs, risking New Zealand losing innovative experience and knowledge,” said Fitzsimons.
Union figures show there will be 224 employees working at Callaghan Innovation by 1 October 2025, which will continue to decrease until the entity’s full disestablishment in mid-2026.
This group is made up of roles transferring elsewhere (including the Measurement Standards Laboratory, Biotechnologies, and grants and funding functions), staff employed to support these functions in the interim (such as, IT, finance, HR, administration), and those whose future is still uncertain. Further redundancies are likely, if the roles aren’t lost via attrition first.
“When Callaghan is finally disestablished in 2026 New Zealand will have no government agency dedicated to applied technology research despite this being a clear focus of the government’s reforms,” Fitzsimons says.
DUBAI, United Arab Emirates, April 16, 2025 (GLOBE NEWSWIRE) — Eternex Network (eTRNX) introduces a next-generation blockchain ecosystem designed to transform how people save, invest, and transact. Built on the fast and efficient Tron blockchain and enhanced by AI-powered innovation, eTRNX is crafted to empower individuals and businesses across Africa, Asia, and the Middle East with accessible, transparent, and decentralized financial tools.
With the Initial Exchange Offering (IEO) currently live, early supporters have the unique opportunity to join a project focused on delivering real-world blockchain utility where it matters most.
The Mission: Financial Inclusion Without Borders
eTRNX aims to deliver secure, low-cost, and accessible financial services that go beyond conventional limitations. From tokenized investments in real estate to AI-driven risk assessments, eTRNX is setting the stage for the next evolution of digital finance.
Live IEO: Be Among the First Movers
The IEO ofeTRNX is now live on p2p, offering investors early access to one of the most promising digital assets in the DeFi space. With only 1 million tokens currently in circulation out of a total supply of 2 billion, early adopters have the advantage of entering at the ground floor of a fast-scaling ecosystem.
Following the strong momentum on P2PB2B, eTRNX is expanding its Initial Exchange Offering (IEO) to more platforms.
The second phase of the IEO is now live on DEX-Trade and Bitstorage, giving even more early supporters the opportunity to join the movement and acquire eTRNX tokens before they hit major exchanges.
This multi-platform IEO approach ensures broader access and liquidity, further accelerating the adoption of the Eternex ecosystem.
What Sets eTRNX Apart
AI-Powered Fraud Detection & Risk Assessment
Multi-currency & cross-border payment support
Ultra-low transaction fees (as low as $0.000005)
Real-time settlements and asset tracking
Seamless staking and yield farming with up to 30% APY
Compliance-ready via CMA’s Regulatory Sandbox
Real-World Use Cases: Blockchain That Touches Lives
1. Everyday Commerce – Seamless Local Transactions
Using eTRNX, users can pay for groceries and daily essentials at local markets through simple QR code scans—no bank fees, no waiting times. Impact: Transaction costs are reduced by over 50% compared to traditional mobile money services, making everyday purchases more efficient and affordable.
2. Real Estate Investing – Accessible and Automated
With a small initial investment, individuals can gain exposure to income-generating real estate properties through tokenized ownership. Monthly rental dividends are distributed automatically, powered by smart contracts. How: Fractional ownership through eTRNX-powered Real Estate Investment Trusts (REITs). Impact: Democratizes property investment by eliminating high capital barriers and providing global access to real estate markets.
3. Cross-Border Remittances – Instant and Cost-Effective
eTRNX enables users to send funds internationally in seconds at negligible fees, improving the lives of families dependent on cross-border income. Impact: Saves up to $30 per transaction compared to traditional remittance services, while ensuring faster and more secure delivery.
REITs: Fractional Ownership of Real-World Assets
eTRNX introduces tokenized Real Estate Investment Trusts (REITs) where users can:
Invest with as little as $10.
Own shares of residential and commercial properties globally.
Earn passive income from rental yields.
Trade these digital real estate shares on decentralized exchanges with instant settlement.
This opens the real estate market to small investors who previously lacked access to high-capital opportunities.
Money Market Funds (MMFs): Secure, Low-Risk Investments for All
Traditional MMFs are controlled by institutions and require large deposits. eTRNX disrupts this by offering tokenized digital debt instruments:
Start investing with just $10.
Earn consistent returns from low-risk money market assets.
AI ensures optimal fund management and real-time settlement.
All transactions are recorded transparently on the blockchain.
Staking & Governance: Earn and Influence
Earn Passive Income
Staking through TRC20 Native Wallets and other platforms provides up to 30% APY in the first year, adjusting gradually for long-term sustainability. This:
Incentivizes network security
Reduces token circulation, potentially increasing value
Rewards loyal community members
Govern the Future
Every eTRNX token equals one vote. Token holders can:
Propose changes
Vote on upgrades and treasury decisions
Participate in a fully decentralized and transparent governance system
AI Integration: Smart Finance for a Smarter World
eTRNX doesn’t just run on blockchain—it’s enhanced by artificial intelligence:
+70% improvement in real-time transaction efficiency
+40% boost in investment accuracy via AI-powered advisors
AI-driven asset monitoring, fraud prevention, and risk modeling
This combination creates a truly intelligent financial infrastructure.
Global Vision with Local Impact
eTRNX is committed to transforming real-world financial pain points into digital opportunities. Whether you’re a farmer in the Philippines, a freelancer in Kenya, or an investor in the UAE—eTRNX gives you access, empowerment, and opportunity.
Join the Movement – Participate in the Live IEO Today!
The Initial Exchange Offering is your chance to become a part of the financial revolution. Secure your stake in Eternex Network and help redefine the future of decentralized finance.
Disclaimer: This press release is provided by Eternex Network. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.
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Details 2025-04-10 President Lai pens Bloomberg News article on Taiwan’s response to US reciprocal tariffs On April 10, an article penned by President Lai Ching-te entitled “Taiwan Has a Roadmap for Deeper US Trade Ties” was published by Bloomberg News, explaining to a global audience Taiwan’s strategy on trade with the United States, as well as how Taiwan will engage in dialogue with the aim of removing bilateral trade barriers, increasing investment between Taiwan and the US, and reducing tariffs to zero. The following is the full text of President Lai’s article: Last month, the first of Taiwan’s 66 new F-16Vs rolled off the assembly line in Greenville, South Carolina. Signed during President Donald Trump’s first term, the $8 billion deal stands as a testament to American ingenuity and leadership in advanced manufacturing. Beyond its economic impact – creating thousands of well-paying jobs across the US – it strengthens the foundations of peace and stability in the Indo-Pacific. This deal is emblematic of the close interests shared between Taiwan and the US. Our bond is forged by an unwavering belief in freedom and liberty. For decades, our two countries have stood shoulder-to-shoulder in deterring communist expansionism. Even as Beijing intensifies its air force and naval exercises in our vicinity, we remain resolute. Taiwan will always be a bastion of democracy and peace in the region. This partnership extends well beyond the security realm. Though home to just 23 million people, Taiwan has in recent years become a significant investor in America. TSMC recently announced it will raise its total investment in the US to $165 billion – an initiative that will create 40,000 construction jobs and tens of thousands more in advanced chip manufacturing and R&D. This investment will bolster the emergence of a new high-tech cluster in Arizona. Taiwan is committed to strengthening bilateral cooperation in manufacturing and innovation. As a trade-dependent economy, our long-term success is built on trade relationships that are fair, reciprocal and mutually beneficial. Encouraging Taiwanese businesses to expand their global footprint, particularly in the US, is a vital part of this strategy. Deepening commercial ties between Taiwanese and American firms is another. These core principles will guide our response to President Trump’s reciprocal tariffs. First, we will seek to restart trade negotiations with a common objective of reducing all tariffs between Taiwan and the US. While Taiwan already maintains low tariffs, with an average nominal rate of 6%, we are willing to further cut this rate to zero on the basis of reciprocity with the US. By removing the last vestiges to free and fair trade, we seek to encourage greater trade and investment flows between our two countries. Second, Taiwan will rapidly expand procurement of American goods. Over the past five years, rising demand for semiconductors and AI-related components has increased our trade surplus. In response to these market trends, Taiwan will seek to narrow the trade imbalance through the procurement of energy, agriculture and other industrial goods from the US. These efforts will create thousands of new jobs across multiple sectors. We’ll also pursue additional arms procurements that are vital to our self-defense and contribute to peace and stability over the Taiwan Strait. During President Trump’s first term, we secured $18 billion in arms deals, including advanced fighter jets, tanks and anti-ship missiles. Future purchases, which are not reflected in trade balances, build on our economic and security partnership while being essential to Taiwan’s “Peace Through Strength” approach. Third, new investments will be made across the US. Already, Taiwanese firms support 400,000 jobs throughout all 50 states. Beyond TSMC, we also see emerging opportunities in electronics, ICT, energy and petrochemicals. We will establish a cross-agency “US Investment Team” to support bilateral trade and investment – and we hope that efforts will be reciprocated by the Trump administration. Fourth, we are committed to removing non-tariff trade barriers. Taiwan will take concrete steps to resolve persistent issues that have long impeded trade negotiations. And finally, we will strongly address US concerns over export controls and improper transshipment of low-cost goods through Taiwan. These steps form the basis of a comprehensive roadmap for how Taiwan will navigate the shifting trade landscape, transforming challenges in the Taiwan-US economic relationship into new opportunities for growth, resilience and strategic alignment. At a time of growing global uncertainty, underpinned by growing Chinese assertiveness, closer trade ties are more than sound economics; they are a critical pillar of regional security. Our approach is long-term and principled, grounded in a lasting commitment to our friendship with the US, a firm belief in the benefits of fair and reciprocal trade, and an unwavering dedication to peace and stability across the Taiwan Strait. We are confident that our shared economic and security interests will not only overcome turbulence in the international trade environment – they will define the future of a free and open Indo-Pacific.
Details 2025-04-08 President Lai receives credentials from new Tuvalu Ambassador Lily Tangisia Faavae On the morning of April 8, President Lai Ching-te received the credentials of new Ambassador Extraordinary and Plenipotentiary of Tuvalu to the Republic of China (Taiwan) Lily Tangisia Faavae. In remarks, President Lai welcomed the ambassador to her new post and thanked Tuvalu for its long-term support for Taiwan’s international participation. The president also noted that joint efforts between our two countries have produced fruitful results in such areas as medicine and public health, agricultural and fisheries technology, and information and communications technology. He expressed his hope that we will continue to deepen our bilateral relations so as to generate even greater well-being for our peoples and promote peace, stability, and prosperity in the Pacific region. A translation of President Lai’s remarks follows: It is a great pleasure today to receive the credentials of Ambassador Extraordinary and Plenipotentiary of Tuvalu Lily Tangisia Faavae. On behalf of the Republic of China (Taiwan), I extend my warmest welcome to you. Last year, the Republic of China (Taiwan) and Tuvalu celebrated 45 years of diplomatic relations. Prime Minister Feleti Teo visited Taiwan in May last year for the inauguration of myself and Vice President Bi-khim Hsiao and again in October for our National Day celebrations. When I visited Tuvalu last December, I was warmly received by the government and people of Tuvalu, and I deeply felt that our two countries were like family. Ambassador Faavae’s posting to Taiwan demonstrates the importance Prime Minister Teo places on our ties. Widely recognized for her exceptional talent, Ambassador Faavae is an outstanding official with extensive experience in public service. Moreover, during her term as Permanent Secretary of the Ministry of Health and Social Welfare, she voiced support for Taiwan at the World Health Assembly. I believe that with her assistance, our two nations will further advance cooperation and exchanges. I want to thank the government of Tuvalu for long supporting Taiwan’s international participation. Furthermore, joint efforts between our two countries have produced fruitful results in such areas as medicine and public health, agricultural and fisheries technology, and information and communications technology. Last year, Prime Minister Teo and I signed a joint communiqué on advancing the comprehensive partnership between Taiwan and Tuvalu. Going forward, we will stand together in tackling the challenges we face, including climate change and expanding authoritarianism. And we will continue to deepen our bilateral relations so as to generate even greater well-being for our peoples and promote peace, stability, and prosperity in the Pacific region. Once again, I warmly welcome Ambassador Faavae to her new post in Taiwan. Please convey warmest regards from Taiwan to Prime Minister Teo and all of our friends in Tuvalu. I wish you all the best in work and life during your term in Taiwan. Ambassador Faavae then delivered remarks, saying that it is a great honor and privilege to meet with President Lai today as the new Ambassador Extraordinary and Plenipotentiary of Tuvalu to Taiwan, and to present to him her letter of credence. She then extended, on behalf of the government and people of Tuvalu, her warmest greetings and deep respect to the president and people of Taiwan. The letter of credence, she noted, signifies the trust and confidence that her government and governor-general have placed in her to represent their nation and to foster and strengthen the bonds of friendship and cooperation between our countries. Ambassador Faavae said that our two countries have enjoyed a longstanding relationship of 45 years based on mutual respect, cooperation, and shared values. She added that we have collaborated, and continue to do so, in such fields as education, health, climate change adaptation and sea level rise mitigation, agriculture, clean energy, and internet connectivity. Ambassador Faavae pointed out that Tuvalu remains committed to deepening ties with Taiwan and that it values people-to-people connections and our shared Austronesian heritage. She noted that the people of Tuvalu, a small developing nation, have greatly benefited from Taiwan’s advanced technical expertise and diverse financial assistance. She said she believes Tuvalu and Taiwan share a common interest and are united in our efforts and commitment to upholding democracy, peace, stability, and prosperity for our people and making the world better and safer. Ambassador Faavae stated that as ambassador of Tuvalu to Taiwan, she pledges to work diligently and respectfully to enhance our bilateral relations, promote mutual understanding, and facilitate collaboration in areas of shared concern. The ambassador said she looks forward to collaborating closely with the Taiwan government and other stakeholders to achieve our common objectives and to continue building a more prosperous and harmonious future for our nations. In closing, she thanked President Lai for the opportunity to serve and to further the enduring friendship between our two countries.
Details 2025-03-28 President Lai meets British Office Taipei Representative Ruth Bradley-Jones On the afternoon of March 28, President Lai Ching-te met with British Office Taipei Representative Ruth Bradley-Jones. In remarks, President Lai welcomed Representative Bradley-Jones as she takes up her post in Taiwan, and thanked the United Kingdom government and parliament for demonstrating staunch support for Taiwan. The president indicated that Taiwan and the UK enjoy close economic and trade ties, and our industries complement each other well, with great potential for collaboration in such fields as semiconductors, AI, unmanned vehicles, and medium- and low-orbit satellites. He stated that he looks forward to expanding exchanges with the UK across all domains so as to enhance democratic and economic resilience, jointly advancing the prosperous development of the Indo-Pacific region and economic security around the world. A translation of President Lai’s remarks follows: It is a pleasure to meet Representative Bradley-Jones here at the Presidential Office for this exchange. I understand that she has proactively called at many government agencies since taking up her post last month. On behalf of the people of Taiwan, I extend a warm welcome. Taiwan and the UK are partners that share the values of freedom and democracy. In recent years, our bilateral relations have continued to deepen. With the efforts of Representative Bradley-Jones and our respective governments, I look forward to the expansion of dialogue and cooperation between Taiwan and the UK. This will further elevate our bilateral ties. Especially in the face of expanding authoritarianism, the UK is not only playing an important role in crafting a unified European response; it is also demonstrating staunch support for Taiwan through various channels. For example, joint statements released after the Australia-UK ministerial consultations, as well as the G7 foreign ministers’ meeting, underlined a high level of concern for peace and stability across the Taiwan Strait. The UK government has publicly expressed support for Taiwan’s international participation on multiple occasions. And last November, the UK House of Commons passed a motion clearly asserting that United Nations General Assembly Resolution 2758 does not mention Taiwan. These actions attest to the UK’s belief in supporting democracy and peace, and have further solidified our countries’ friendship. I would like to convey my deepest gratitude to the UK government and parliament. Currently, the UK is Taiwan’s fourth largest trading partner in Europe and second largest source of investment from Europe. We enjoy close economic and trade ties, and our industries complement each other well. There is also great potential for collaboration in such fields as semiconductors, AI, unmanned vehicles, and medium- and low-orbit satellites. We look forward to expanding exchanges with the UK across all domains so as to enhance democratic and economic resilience. We also hope the UK will continue to support Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership so that together, we can work with more like-minded partners, jointly advancing the prosperous development of the Indo-Pacific region and economic security around the world. Once again, I welcome Representative Bradley-Jones to Taiwan and wish her all the best with her work. I anticipate that Taiwan-UK relations will continue to steadily advance through our joint efforts. Representative Bradley-Jones then delivered remarks, first saying in Mandarin that she is honored to meet with President Lai to discuss topics of mutual concern and jointly deepen Taiwan-UK relations, promoting mutual understanding, respect, and cooperation. She went on to say that she came to Taiwan last August to study Mandarin, and began her post as British Office Taipei representative in February this year, noting that every day she learns more about and gains a deeper understanding of Taiwan. Last year, she said, she visited Tainan and Wanli, and found Tainan’s wetlands and the scenery in Wanli very impressive. She added that she has also tried many different Taiwanese foods, and is looking forward to experiencing even more of Taiwan’s local culture and customs over the next four years. Continuing her remarks in English, Representative Bradley-Jones stated that since taking up her post, she has borne witness to the strength of the relationship between Taiwan and the UK and the potential for it to continue to grow. She said that on trade and investment, there is significant complementarity between Taiwan’s Five Trusted Industry Sectors and the UK’s Industrial Strategy, particularly in areas such as digital technologies, advanced manufacturing, and clean energy. Both governments are also together supporting Taiwan and UK businesses through our Enhanced Trade Partnership and annual trade talks, she said. Representative Bradley-Jones went on to say that on science and technology, Taiwan and the UK can and should do more together. She noted that the UK has the third largest tech sector in the world and is valued at over US$1.1 trillion, while Taiwan is the center of the semiconductor and AI hardware world. Given our complementary strengths, especially in areas such as semiconductors, space, and communications technology, she said, the UK has stepped up its level of activity in Taiwan, including by regularly hosting a UK Pavilion at SEMICON and funding 18 joint R&D programs through our new collaborative R&D fund, and looks forward to doing more together in the future. In support of Taiwan’s whole-of-society resilience, the representative said, the UK is supporting valuable exchanges, co-hosting GCTF (Global Cooperation and Training Framework) workshops, sharing lessons on financial sector resilience, and reaching out to mayors and community leaders across Taiwan. From financial resilience to cyber resilience, she said, the UK’s public sector and private industries have plenty to share and learn. Representative Bradley-Jones stated that on people-to-people links, parliamentarians, civil society, and academics are continuing to deepen contact, and that she is particularly excited by a new smart parliament partnership agreed upon by the Taiwan Foundation for Democracy and the UK’s Westminster Foundation for Democracy, which aims to facilitate cross-party, cross-society, and cross-border exchanges on issues such as democratic governance, AI, inclusive policy-making, and public safety. The representative indicated that the examples she mentioned just scratch the surface of the full potential of the Taiwan-UK relationship. She said that the UK’s longstanding policy remains unchanged, and fundamentally, that is because we share a common set of values and interests. We are together focused on how to make our societies safer and more prosperous tomorrow than they are today, she said, and as like-minded democracies, innovative economies, and practical partners, the sincere and pragmatic cooperation between Taiwan and the UK is bringing material benefits to the prosperity and well-being of our people every day.
Details 2025-03-21 President Lai meets Alaska Governor Mike Dunleavy On the morning of March 21, President Lai Ching-te met with a delegation led by Alaska Governor Mike Dunleavy. In remarks, President Lai said that Alaska has long been an important trading partner of Taiwan, and that we have built a solid foundation for cooperation in such fields as energy, fisheries, and tourism. The president expressed hope that Taiwan and Alaska will have more frequent engagement and exchanges so that our relations can continue to grow to create prosperous development for both sides. A translation of President Lai’s remarks follows: On behalf of the people of Taiwan, I extend my sincerest welcome to our guests. This is Governor Dunleavy’s first visit to Taiwan, and last night, we both attended the Hsieh Nien Fan (謝年飯) banquet hosted by the American Chamber of Commerce in Taiwan. I am delighted to have this opportunity to meet with Governor Dunleavy today at the Presidential Office for further dialogue. Alaska has long been an important trading partner of Taiwan. Our sister-state relationship was established in 1988, and we have built a solid foundation for cooperation in such fields as energy, fisheries, and tourism. Currently, Taiwan is Alaska’s eighth largest export market and ninth largest source of imports. This goes to show just how close our trade and economic ties are and how much potential there is for further growth. As I said in my remarks at last night’s Hsieh Nien Fan banquet, Taiwan is interested in buying Alaskan natural gas. I am sure that Governor Dunleavy’s visit will help us explore even more opportunities for cooperation and continue to deepen Taiwan-United States relations. In the face of such challenges as expanding authoritarianism, climate change, and pandemics, we look forward to strengthening collaboration between Taiwan and the US. By drawing on our strengths, we can jointly build non-red supply chains to bolster our economic resilience and drive the advancement of global technology. I want to thank the US government for reiterating the importance it attaches to peace and stability across the Taiwan Strait and its opposition to any attempt to change the status quo by force or coercion. These statements backing Taiwan help in maintaining stability across the Taiwan Strait and in the Indo-Pacific region. Once again, I thank Governor Dunleavy for traveling such a long way to Taiwan. We hope to see more frequent engagement and exchanges between Taiwan and Alaska so that our relations can continue to grow, and we can create prosperous development for both sides. Governor Dunleavy then delivered remarks, saying that their trip to visit friends in Taiwan has been fantastic, thanking President Lai for the invitation to meet, and thanking all the staff. Governor Dunleavy said that as the pandemic was raging, the world went from “before COVID” to “after COVID.” Before COVID, he said, the world relied on a number of systems that were in place for decades after World War II involving supply chains, alliances, sources of energy, trading partners, and friends. He went on to say that as we go beyond COVID, we are reestablishing and reevaluating who our friends are, where we are going to get our energy, and who our trading partners are going to be. The governor said that we are creating a new world for the next 50 years with the new administration in Washington, and this is an opportunity for us to reevaluate and reinvest with our friends for the next 50 years in each other, our futures, and our security. Governor Dunleavy stated that one thing is for certain: that Taiwan is a friend of the US and a friend of Alaska, and has been for many, many decades. He said that it is their hope in this trip and subsequent trips to establish an even tighter bond among their friends in Taiwan, the US, and Alaska. The governor also said that we have much in common in that we are members of the Pacific family, are democracies, and believe in freedom, free speech, and capitalism. He indicated that he has much optimism for the future, and that as we reestablish relationships throughout the world, energy is going to be the key and the basis for our economic development, our national security, and our friendship. Governor Dunleavy said that he believes this trip is going to lay the groundwork for a fantastic future between Taiwan, Alaska, and the US, and that with President Lai’s support as well as the support of the US administration, we can work together to build even better relationships.
Details 2025-03-20 President Lai attends AmCham Taiwan 2025 Hsieh Nien Fan On the evening of March 20, President Lai Ching-te attended the annual Hsieh Nien Fan (謝年飯) banquet hosted by the American Chamber of Commerce in Taiwan (AmCham Taiwan). In remarks, President Lai pointed out that the United States is now a major source of investment in Taiwan, adding that last year US investment accounted for 11.5 percent of total foreign investment in Taiwan. The president also pointed out that the US has become Taiwan’s largest investment destination, as Taiwan’s direct and indirect investment in the US accounted for more than 40 percent of its total outbound investment last year. President Lai expressed hope that AmCham will continue to offer support in quickly resolving the issue of double taxation, further enhancing the mutually beneficial Taiwan-US economic and trade partnership. He also emphasized that one essential element for our economic prosperity is maintaining security and stability, both regionally and globally. The president expressed his belief that, so long as we coordinate our efforts, we can achieve more in our respective defense industries and build non-red supply chains, advancing peace, stability, and prosperity. A transcript of President Lai’s remarks follows: I’m delighted to be here tonight. I want to wish everyone and their families a happy, healthy, and prosperous year ahead. For many years now, AmCham has acted as a bridge between Taiwan and the US. It not only advocates for Taiwan to various sectors in the US, but also offers advice for the development of Taiwan’s industries. So tonight, I would like to express my deepest gratitude to all our friends from the American business community. The 2025 Business Climate Survey, published by AmCham this January, demonstrates the confidence foreign businesses have in the Taiwan market. We are happy to see that over 80 percent of survey respondents reported stable or increased revenue last year, and around 80 percent expressed confidence in Taiwan’s economic prospects for the coming year. Moreover, 90 percent of businesses surveyed are planning to maintain or expand their investments in Taiwan. The positive developments in Taiwan made by our American friends here tonight, their outlook for the future, and their confidence in Taiwan, are further proof of Taiwan’s ideal environment for investment. The US is now a major source of investment in Taiwan. Last year, US investment accounted for 11.5 percent of total foreign investment in Taiwan. In 2023, Entegris opened a new manufacturing facility in Kaohsiung and Micron launched a new facility in Taichung. Last year, Google further solidified Taiwan as its biggest R&D hub outside of the US by opening a new office here. AMD, Nvidia, and major cloud computing companies from the US have also been choosing Taiwan to expand their presence. Over the past several years, the US has also become Taiwan’s largest investment destination. Taiwan’s direct and indirect investment in the US accounted for more than 40 percent of our total outbound investment last year. Four years ago, TSMC’s [Taiwan Semiconductor Manufacturing Company] investment in facilities in Arizona became the biggest FDI [foreign direct investment] in a greenfield project in US history. And this month, TSMC announced it would expand that investment, breaking another record and highlighting the enduring prosperity shared by Taiwan and the US. In addition to TSMC, Taiwan’s GlobalWafers has built a 12-inch silicon wafer factory in Texas, the biggest in the US. This will be followed by many other industries. These companies are confidently expanding their global presence across the Pacific and eastward into the Americas. The US is moving to reindustrialize its manufacturing industry and consolidate high-tech leadership, as it moves to become a global AI hub. In these efforts, Taiwan is an indispensable partner for the US. While the US is a leader in chip design, Taiwan’s semiconductor manufacturing plays an irreplaceable part in the supply chain. Adapting to the changing geopolitical landscape and the coming era of smart technology, Taiwan will continue to promote its Five Trusted Industry Sectors of semiconductors, AI, military, next-gen communications, and security and surveillance. This will drive the next stage in our economic development. A great time to invest in Taiwan is now. We will continue to better connect relevant government agencies and align with international standards to foster a friendlier investment environment. And I am confident that Taiwanese and American companies can leverage their respective high-tech expertise and invest in each other, boosting growth in industrial innovation and development for both our economies. At the same time, we hope to continue deepening Taiwan-US trade relations. Last year, Taiwan was the seventh largest trading partner of the US, up one spot from the previous year, and bilateral trade grew by 24.2 percent. Taiwan is going to expand procurement from the US of industrial and agricultural products, as well as natural gas. I am very happy to welcome Governor [Mike] Dunleavy of Alaska, who has specially come all the way to Taiwan. Alaska is a source of high-quality natural gas, and its relatively short distance from Taiwan facilitates transportation. So we are very interested in buying Alaskan natural gas because it can meet our needs and ensure our energy security. We hope that AmCham will continue to offer support in quickly resolving the issue of double taxation and removing tax barriers to bilateral investment and trade, further enhancing the mutually beneficial Taiwan-US economic and trade partnership. One essential element for our economic prosperity is maintaining security and stability, both regionally and globally. So we are grateful for the joint leaders’ statement issued by [US] President [Donald] Trump and Japan’s Prime Minister Ishiba Shigeru, in which they expressed their solid support for maintaining peace and stability across the Taiwan Strait. As we face growing authoritarianism, Taiwan will continue to uphold our values of freedom and democracy and will be a responsible actor in regional and global security. Currently, Taiwan’s defense budget stands at about 2.5 percent of GDP. Going forward, the government will prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. At the same time, we will continue to reform national defense, further enhancing Taiwan’s self-defense capabilities. And we will advance our cooperation with the US and other democracies in upholding regional stability and prosperity. We also welcome continued Taiwan-US cooperation in the defense sector. I believe that, so long as we coordinate our efforts, we can achieve more in our respective defense industries and build non-red supply chains, advancing peace, stability, and prosperity. In closing, I look forward to seeing even greater achievements from Taiwan-US economic and trade cooperation. Thank you. After remarks, President Lai, AmCham Chairperson Dan Silver, American Institute in Taiwan Taipei Office Director Raymond Greene, and Governor Dunleavy raised their glasses in recognition of the strong Taiwan-US friendship.
Details 2025-04-06 President Lai delivers remarks on US tariff policy response On April 6, President Lai Ching-te delivered recorded remarks regarding the impact of the 32 percent tariff that the United States government recently imposed on imports from Taiwan in the name of reciprocity. In his remarks, President Lai explained that the government will adopt five response strategies, including making every effort to improve reciprocal tariff rates through negotiations, adopting a support plan for affected domestic industries, adopting medium- and long-term economic development plans, forming new “Taiwan plus the US” arrangements, and launching industry listening tours. The president emphasized that as we face this latest challenge, the government and civil society will work hand in hand, and expressed hope that all parties, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. A translation of President Lai’s remarks follows: My fellow citizens, good evening. The US government recently announced higher tariffs on countries around the world in the name of reciprocity, including imposing a 32 percent tariff on imports from Taiwan. This is bound to have a major impact on our nation. Various countries have already responded, and some have even adopted retaliatory measures. Tremendous changes in the global economy are expected. Taiwan is an export-led economy, and in facing future challenges there will inevitably be difficulties, so we must proceed carefully to turn danger into safety. During this time, I want to express gratitude to all sectors of society for providing valuable opinions, which the government regards highly, and will use as a reference to make policy decisions. However, if we calmly and carefully analyze Taiwan’s trade with the US, we find that last year Taiwan’s exports to the US were valued at US$111.4 billion, accounting for 23.4 percent of total export value, with the other 75-plus percent of products sold worldwide to countries other than the US. Of products sold to the US, competitive ICT products and electronic components accounted for 65.4 percent. This shows that Taiwan’s economy does still have considerable resilience. As long as our response strategies are appropriate, and the public and private sectors join forces, we can reduce impacts. Please do not panic. To address the reciprocal tariffs by the US, Taiwan has no plans to adopt retaliatory tariffs. There will be no change in corporate investment commitments to the US, as long as they are consistent with national interests. But we must ensure the US clearly understands Taiwan’s contributions to US economic development. More importantly, we must actively seek to understand changes in the global economic situation, strengthen Taiwan-US industry cooperation, elevate the status of Taiwan industries in global supply chains, and with safeguarding the continued development of Taiwan’s economy as our goal, adopt the following five strategies to respond. Strategy one: Make every effort to improve reciprocal tariff rates through negotiations using the following five methods: 1. Taiwan has already formed a negotiation team led by Vice Premier Cheng Li-chiun (鄭麗君). The team includes members from the National Security Council, the Office of Trade Negotiations, and relevant Executive Yuan ministries and agencies, as well as academia and industry. Like the US-Mexico-Canada free trade agreement, negotiations on tariffs can start from Taiwan-US bilateral zero-tariff treatment. 2. To expand purchases from the US and thereby reduce the trade deficit, the Executive Yuan has already completed an inventory regarding large-scale procurement plans for agricultural, industrial, petroleum, and natural gas products, and the Ministry of National Defense has also proposed a military procurement list. All procurement plans will be actively pursued. 3. Expand investments in the US. Taiwan’s cumulative investment in the US already exceeds US$100 billion, creating approximately 400,000 jobs. In the future, in addition to increased investment in the US by Taiwan Semiconductor Manufacturing Company, other industries such as electronics, ICT, petrochemicals, and natural gas can all increase their US investments, deepening Taiwan-US industry cooperation. Taiwan’s government has helped form a “Taiwan investment in the US” team, and hopes that the US will reciprocate by forming a “US investment in Taiwan” team to bring about closer Taiwan-US trade cooperation, jointly creating a future economic golden age. 4. We must eliminate non-tariff barriers to trade. Non-tariff barriers are an indicator by which the US assesses whether a trading partner is trading fairly with the US. Therefore, we will proactively resolve longstanding non-tariff barriers so that negotiations can proceed more smoothly. 5. We must resolve two issues that have been matters of longstanding concern to the US. One regards high-tech export controls, and the other regards illegal transshipment of dumped goods, otherwise referred to as “origin washing.” Strategy two: We must adopt a plan for supporting our industries. For industries that will be affected by the tariffs, and especially traditional industries as well as micro-, small-, and medium-sized enterprises, we will provide timely and needed support and assistance. Premier Cho Jung-tai (卓榮泰) and his administrative team recently announced a package of 20 specific measures designed to address nine areas. Moving forward, the support we provide to different industries will depend on how they are affected by the tariffs, will take into account the particular features of each industry, and will help each industry innovate, upgrade, and transform. Strategy three: We must adopt medium- and long-term economic development plans. At this point in time, our government must simultaneously adopt new strategies for economic and industrial development. This is also the fundamental path to solutions for future economic challenges. The government will proactively cooperate with friends and allies, develop a diverse range of markets, and achieve closer integration of entities in the upper, middle, and lower reaches of industrial supply chains. This course of action will make Taiwan’s industrial ecosystem more complete, and will help Taiwanese industries upgrade and transform. We must also make good use of the competitive advantages we possess in such areas as semiconductor manufacturing, integrated chip design, ICT, and smart manufacturing to build Taiwan into an AI island, and promote relevant applications for food, clothing, housing, and transportation, as well as military, security and surveillance, next-generation communications, and the medical and health and wellness industries as we advance toward a smarter, more sustainable, and more prosperous new Taiwan. Strategy four: “Taiwan plus one,” i.e., new “Taiwan plus the US” arrangements: While staying firmly rooted in Taiwan, our enterprises are expanding their global presence and marketing worldwide. This has been our national economic development strategy, and the most important aspect is maintaining a solid base here in Taiwan. We absolutely must maintain a solid footing, and cannot allow the present strife to cause us to waver. Therefore, our government will incentivize investments, carry out deregulation, and continue to improve Taiwan’s investment climate by actively resolving problems involving access to water, electricity, land, human resources, and professional talent. This will enable corporations to stay in Taiwan and continue investing here. In addition, we must also help the overseas manufacturing facilities of offshore Taiwanese businesses to make necessary adjustments to support our “Taiwan plus one” policy, in that our national economic development strategy will be adjusted as follows: to stay firmly rooted in Taiwan while expanding our global presence, strengthening US ties, and marketing worldwide. We intend to make use of the new state of supply chains to strengthen cooperation between Taiwanese and US industries, and gain further access to US markets. Strategy five: Launch industry listening tours: All industrial firms, regardless of sector or size, will be affected to some degree once the US reciprocal tariffs go into effect. The administrative teams led by myself and Premier Cho will hear out industry concerns so that we can quickly resolve problems and make sure policies meet actual needs. My fellow citizens, over the past half-century and more, Taiwan has been through two energy crises, the Asian financial crisis, the global financial crisis, and pandemics. We have been able to not only withstand one test after another, but even turn crises into opportunities. The Taiwanese economy has emerged from these crises stronger and more resilient than ever. As we face this latest challenge, the government and civil society will work hand in hand, and I hope that all parties in the legislature, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. Let us join together and give it our all. Thank you.
Source: The Conversation (Au and NZ) – By Fan Yang, Research fellow at Melbourne Law School, the University of Melbourne and the ARC Centre of Excellence for Automated Decision-Making and Society., The University of Melbourne
Since 2024, the RECapture research team has been monitoring political disinformation and advertising in Australia.
Our focus is on WeChat, the primary news and information platform for Chinese speakers in Australia, and RedNote (Xiaohongshu), an emerging Chinese information sharing platform similar to Instagram.
Hundreds of thousands of people in Australia use these platforms. They’re often a main source of news.
Our research reveals while Australian news media often focus on foreign interference, in this election cycle, disinformation is being driven by commercial and domestic political interests.
These pose substantial threats to Chinese Australian communities and our democracy.
What is disinformation?
Defining disinformation often hinges on three criteria:
the truthfulness of the content
the intent behind its creation and dissemination
the harm it causes.
However, findings from our 2023 study on the Voice referendum challenge those assumptions. Disinformation isn’t as simple as true or false. It can involve ambiguous intent and produce harm that’s difficult to measure.
With these limitations, we focus on deliberate misrepresentations of policy positions and the manipulation of political speech intended to influence voter behaviour.
What have we discovered?
We found examples that misrepresented political statements and policies and capitalised on preexisting concerns within migrant communities.
Concerns include potential changes to investor visas, undocumented migration, humanitarian programs and Australia’s diplomatic relations with India, the US and China.
We also found several strategies, such as:
exaggerating the likelihood of events (like the revival of the Significant Investment Visa – an invitation-only visa for those investing at least A$5 million in certain sectors)
manipulating timelines and contexts (like re-hyping past news stories to create the impression the events are happening in the present)
and misaligning visuals and text to suggest misleading interpretations.
While we’re working to better understand who’s behind these cases, we know they’re not political parties. Here are two examples.
This post on RedNote, published in April, referred to several statements, including Prime Minister Anthony Albanese’s speech at the Future of Western Sydney Summit. Albanese stated the government had a “balanced” immigration ratio.
However, the Chinese-language text accompanying the post omitted Labor’s past immigration policies and misrepresented the speech:
Labor grants amnesty to all? Albo embraces immigrants! Good news for Chinese people!
Discussions in the comments largely favoured a class-based immigration system. Users argued the Labor government disproportionately favoured humanitarian immigrants and greater preference should be given to upper and middle-class migrants.
We also found examples on WeChat.
On March 4, the Chinese-language media outlet AFN Daily published an article with the provocative headline:
I am furious! How shameless! Australia is really going to be in chaos!
The headline was sensational and intentionally ambiguous. It attracted reader attention to click through past four advertisements, including one political ad by the Liberal candidate for Bennelong, Scott Yung.
The article claimed the Coalition’s support had surpassed Labor’s, while presenting a segment of a poll in which Labor had actually received greater voter support for its welfare, healthcare and education policies.
The article further claimed the Labor Party had naturalised 12,500 new citizens – predominantly of Indian origin – in an attempt to sway the Chinese audience.
This claim had been explicitly refuted by Tony Burke back in February.
The article challenged this assertion by Burke and reinforced anti-Labor sentiment through racially charged narratives. It emphasised the strengthening diplomatic relations between Australia and India, and highlighted the growing number of South Asian and Middle Eastern migrants in comparison to Chinese migrants.
We also observed ad hoc disinformation narratives triggered by natural disasters or public emergencies.
For example, there was a claim on WeChat suggesting “the election is cancelled because of Cyclone Alfred.” Such disinformation requires timely intervention to prevent its rapid spread and impact.
Why is this so harmful?
The harms of disinformation are often more severe on digital media used by marginalised communities. Our research shows a few reasons why.
The limited regulatory oversight of these platforms makes the harms hard to fully identify and prevent.
Australian regulatory bodies keep intervention to address disinformation on these platforms to a minimum. This reflects broader national concerns around cybersecurity and foreign interference.
Unfortunately, this has resulted in a largely unregulated environment where political disinformation thrives during election cycles.
Finally, we see persistent disinformation narratives – from 2019, 2022, 2023 (around the Voice referendum), through to 2025 – where racial stereotypes intersect with partisan biases.
What can be done?
For Chinese-language platforms, our findings suggest disinformation might be less a product of foreign political actors, propaganda or linguistic barriers. What’s more important are the insular structure of WeChat and RedNote’s media ecosystems.
Tailored civic education and media literacy initiatives can help users to spot disinformation. Currently, grassroots debunking efforts are largely done by community members who comment beneath posts.
But more broadly, we need to support the public to think critically when reading digital news. This would help mitigate the exploitation of racial and gender biases for clicks and political point-scoring.
While automation is sometimes used to detect and debunk disinformation, its application is limited here. WeChat and RedNote prohibit external automated tools. Their own systems for flagging content generated by artificial intelligence don’t always work either.
Individual and coordinated human effort remains the best way to accurately inform Australian communities of their choices this election. This applies whether these communities tune in to mainstream broadcasts, major US-based social media platforms or Chinese language apps.
The authors would like to thank researchers Dan Dai, Stevie Zhang, and Mengjie Cai for their contributions to this project.
The research project is funded by the Susan McKinnon Foundation for the period 2024-2025.
Robbie Fordyce is a member of the grants panel for the Australian Communication Consumer Action Network (ACCAN). He has previously worked on studies of online political content that has been funded by the Australian Research Council and by ACCAN.
Luke Heemsbergen does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
People exercise at a city park in north China’s Tianjin Municipality, Aug. 8, 2024. [Photo/Xinhua] It is a balmy spring afternoon at the Anhui Acupuncture and Moxibustion Hospital, and a queue of young women waits patiently outside. But these women are not seeking traditional medical treatment — they are on the hunt for weight loss solutions. “All those delicious holiday feasts have left me with quite a belly,” said Zhu Rongrong, 23, adding that the extra weight has left her constantly feeling drained and affected her sleep. In March, Lei Haichao, head of the National Health Commission (NHC), announced plans to establish more weight management clinics at medical and health facilities, helping people shed pounds safely and pivot to healthier lifestyles. This not only provides professional services, but also gives birth to new form of medical services. The Anhui Acupuncture and Moxibustion Hospital opened a dedicated weight loss clinic in March, offering Traditional Chinese Medicine (TCM) therapies such as acupuncture to address the growing demand. According to Fei Aihua, an endocrinologist at the hospital, the number of patients seeking treatment for weight-related conditions more than quadrupled year on year in the first quarter of 2025. “Acupuncture for weight management is about holistic body regulation,” Fei said. “Effective weight control requires long-term, sustainable habits and a healthy lifestyle.” Fei has observed that some young women seeking treatment do not meet the clinical standards for obesity or show related symptoms, but are preoccupied with achieving a slimmer figure. “For them, a balanced diet and moderate exercise remain the best options,” she said. Alongside TCM approaches, artificial intelligence (AI) is becoming a key part of China’s weight management programs. A new AI-powered assistant, developed by local medical institutions and health tech companies, is helping doctors improve their diagnostic efficiency and tailor their intervention plans. “Now, with structured health data generated through patient interactions with the AI model, I can obtain a complete patient health profile in just 30 seconds,” said Zheng Xueying, an endocrinologist at the First Affiliated Hospital of the University of Science and Technology of China. Zheng’s team is exploring additional tech applications, including AI-generated diet plans and photo-based food recognition programs to assess daily calorie intake and nutritional balance. Weng Jianping, president of Anhui Medical University, said that integrating AI and professional clinical expertise can produce personalized obesity interventions and preventive healthcare strategies. Hospitals nationwide are now establishing multidisciplinary clinics to provide comprehensive weight management services. At the Anhui Provincial Children’s Hospital, an 8-year-old girl aroused laughter when she told doctors, “The food my mom makes is just too delicious. I can’t help eating it!” But the laughter turned to concern after tests revealed early signs of puberty linked to the patient’s obesity. “Our first step is to correct her perception and help her understand the health risks,” said Wang Ya, who works at the hospital’s new weight management clinic, which has the endocrinology, cardiology and psychology departments. Thanks to the hospital’s multidisciplinary clinic unveiled in March, such cases are now promptly referred for comprehensive evaluation and treatment. “Childhood obesity affects more than just physical health, and it often brings psychological challenges during these sensitive years,” Wang said. In Nanning, Guangxi Zhuang Autonomous Region, the Second Nanning People’s Hospital has launched an integrated weight management clinic combining gastrointestinal surgery, clinical nutrition and endocrinology departments. The clinic offers one-stop, full-cycle services from evaluation and intervention to follow-up care for scientific and personalized weight control solutions. In Tianjin, the TEDA Hospital has opened a multidisciplinary clinic that integrates metabolic control, integrated Traditional Chinese and Western medicine services, nutrition and exercise therapies, and behavioral intervention to support lifelong weight management. In Wuhan, Hubei province, the Union Hospital of Tongji Medical College at the Huazhong University of Science and Technology has inaugurated a weight management center that integrates 14 clinical departments. The center aims to screen 50,000 overweight or obese patients each year while providing tiered treatment, complication prevention and long-term follow-up services.
ER Report: Here is a summary of significant articles published on EveningReport.nz on April 16, 2025.
Trump’s racist, corrupt agenda – like a bank robbery in broad daylight EDITORIAL: By Giff Johnson, editor of the Marshall Islands Journal US President Donald Trump and his team is pursuing a white man’s racist agenda that is corrupt at its core. Trump’s advisor Elon Musk, who often seems to be the actual president, is handing his companies multiple contracts as his team takes over or takes
Why the Coalition’s tone-deaf diss track was bound to hit all the wrong notes Source: The Conversation (Au and NZ) – By Andy Ward, Senior Lecturer in Music, School of Business and Creative Industries, University of the Sunshine Coast Hip-hop is a cultural powerhouse that has infiltrated every facet of popular culture, across a global market. That said, one place you usually don’t see it is on the election
Homelessness – the other housing crisis politicians aren’t talking about Source: The Conversation (Au and NZ) – By Cameron Parsell, Professor, School of Social Science, The University of Queensland Igor Corovic/Shutterstock Measures to tackle homelessness in Australia have been conspicuously absent from the election campaign. The major parties have rightly identified deep voter anxiety over high house prices. They have responded with a raft of
Superb fairy-wrens’ songs hold clues to their personalities, new study finds Source: The Conversation (Au and NZ) – By Diane Colombelli-Négrel, Senior Lecturer, Animal Behaviour, Flinders University Two superb fairy-wrens (_Malurus cyaneus_). ARKphoto/Shutterstock When we think of bird songs, we often imagine a cheerful soundtrack during our morning walks. However, for birds, songs are much more than background music – they are crucial to attract a
‘De-extinction’ of dire wolves promotes false hope: technology can’t undo extinction Source: The Conversation (Au and NZ) – By Martín Boer-Cueva, Ecologist and Environmental Consultant, Universidad Autónoma de Madrid Colossal Biosciences Over the past week, the media have been inundated with news of the “de-extinction” of the dire wolf (Aenocyon dirus) – a species that went extinct about 13,000 years ago. The breakthrough has been achieved
Students are neither left nor right brained: how some early childhood educators get this ‘neuromyth’ and others wrong Source: The Conversation (Au and NZ) – By Kate E. Williams, Professor of Education, University of the Sunshine Coast MalikNalik/ Shutterstock Many teachers and parents know neuroscience, the study of how the brain functions and develops, is important for children’s education. Brain development is recommended as part of teacher education in universities. Neuroscience is even
Trump’s trade war puts America’s AI ambitions at risk Source: The Conversation (Au and NZ) – By Albert Zomaya, Professor, School of Computer Science, University of Sydney remotevfx.com/Shutterstock The global trade war triggered by US President Donald Trump earlier this month shows no signs of ending anytime soon. In recent days, China suspended exports of a wide range of critical minerals that are vital
More bulk billing is fine. But what the health system really needs this election is genuine reform Source: The Conversation (Au and NZ) – By Stephen Duckett, Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice and Primary Care, The University of Melbourne Worrying signs are emerging about aspects of Australia’s health system, which will require the attention of whoever wins the May election. Despite big money
Half way through the campaign, how are the major party leaders faring? Source: The Conversation (Au and NZ) – By Stephen Mills, Honorary Senior Lecturer, School of Social and Political Sciences, University of Sydney More than two weeks in, we know one thing for sure. This time, the election campaign does matter. In decades past, when voters were more loyally rusted on to the major parties, news
Safe seat syndrome? Why some hospitals get upgrades and others miss out Source: The Conversation (Au and NZ) – By Anam Bilgrami, Senior Research Fellow, Macquarie University Centre for the Health Economy, Macquarie University On his campaign trail, Prime Minister Anthony Albanese pledged A$200 million to upgrade St John of God Midland Public Hospital in Perth. He promised more beds and operating theatres, and a redesigned obstetrics
Allowing forests to regrow and regenerate is a great way to restore habitat Source: The Conversation (Au and NZ) – By Hannah Thomas, PhD candidate in Environmental Policy, The University of Queensland Cynthia A Jackson, Shutterstock Queensland is widely known as the land clearing capital of Australia. But what’s not so well known is many of the cleared trees can grow back naturally. The latest state government figures
A century after its discovery, scientists capture first confirmed footage of a colossal squid in the deep Source: The Conversation (Au and NZ) – By Kat Bolstad, Associate professor, Auckland University of Technology The colossal squid was first described in 1925 based on specimens from the stomach of a commercially hunted sperm whale. A century later, an international voyage captured the first confirmed video of this species in its natural habitat –
Students are neither left or right brained: how some early childhood educators get this ‘neuromyth’ and others wrong Source: The Conversation (Au and NZ) – By Kate E. Williams, Professor of Education, University of the Sunshine Coast MalikNalik/ Shutterstock Many teachers and parents know neuroscience, the study of how the brain functions and develops, is important for children’s education. Brain development is recommended as part of teacher education in universities. Neuroscience is even
Pagan loaves, Christian bread, a secular treat: a brief history of hot cross buns Source: The Conversation (Au and NZ) – By Darius von Guttner Sporzynski, Historian, Australian Catholic University Jasmine Waheed/Unsplash Hot cross buns aren’t just a sweet snack that appears around Easter. They carry centuries of storytelling in their dough. From ancient gods to modern supermarkets, these sticky spiced buns have crossed many borders and beliefs. Today,
US-China trade war leaves NZ worse off, but still well placed to weather the storm – new modelling Source: The Conversation (Au and NZ) – By Niven Winchester, Professor of Economics, Auckland University of Technology Getty Images Forecasting the potential impact of Donald Trump’s turbulent tariff policies is a fraught business – and fraught for business. The United States president has changed, paused and exempted various categories of goods so often, the only
Caitlin Johnstone: Every day the Gaza holocaust continues, the empire tells the truth about itself Report by Dr David Robie – Café Pacific. – COMMENTARY: By Caitlin Johnstone Every day the Gaza holocaust continues, the Western empire tells the truth about itself. The US government is telling you the truth about itself. Israel is telling you the truth about itself. Their Western allies are telling you the truth about themselves.
PNG’s ‘chief servant’ James Marape defeats no-confidence vote By Koroi Hawkins, RNZ Pacific editor Papua New Guinea Prime Minister James Marape has survived a motion of no confidence against him in Parliament. During the proceedings, livestreamed on EMTV, Speaker Job Pomat announced the results of the vote as 16 votes in favour and 89 against. In moving the motion, the member for Abau,
Does Russia have military interest in Indonesia? Here’s what we know – and why Australia would be concerned Source: The Conversation (Au and NZ) – By Matthew Sussex, Associate Professor (Adj), Griffith Asia Institute; and Fellow, Strategic and Defence Studies Centre, Australian National University A news report that Russia has sought to base long-range aircraft in Indonesia caught Australia’s political leaders by surprise during an already hectic election campaign. The military publication Janes
Obama praises Harvard for ‘setting example’ to universities resisting Trump Asia Pacific Report Former US President Barack Obama has taken to social media to praise Harvard’s decision to stand up for academic freedom by rebuffing the Trump administration’s demands. “Harvard has set an example for other higher-ed institutions — rejecting an unlawful and ham-handed attempt to stifle academic freedom, while taking concrete steps to make
Election Diary: for a few hours, it seemed possible the Russians might be coming Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra For a few hours on Tuesday afternoon, it seemed just possible the Russians might be sending their planes to a base very near us. A claim on the military and intelligence site Janes that said the Russians were seeking to
Hyderabad, India, April 15, 2025 (GLOBE NEWSWIRE) — Proto Hologram has expanded rapidly across India, with the launch of AI Avatars of Amitabh Bachchan and Sourav “Dada” Ganguly. Based on IP deals created by Hyderbad-based company Ikonz, the Proto avatars are hyper-real, volumetric, digital twins of the icons, that are capable of fully interactive conversations.
The AI Proto Hologram of Mr. Bachchan, one of the biggest international film stars of all time, has already been helping visitors at six branches of IDFC FIRST Bank with information and transactions. It is among the first in the world to enable hologram banking transactions.
Mr. Ganguly’s Proto avatar debuted at an event in Kolkata on April 11th. The newly reappointed chairman of the ICC Men’s Cricket Committee became the first ever cricket star to become a Proto hologram, and was there in person to show, side-by-side, how real the hologram looks. Mr. Ganguly joins Dallas Cowboys owner Jerry Jones, UFC CEO Dana White, Formula One CEO Stefano Domenicali and other top sports execs and athletes to appear as an AI hologram via Proto.
“It’s an incredible honor to have the great Amitabh Bachchan and Sourav Ganguly appear in Proto hologram form,” said Proto Hologram Founder and Inventor David Nussbaum. “Proto’s AI Persona tools let them – and other spokesmen, experts, executives, doctors, or celebrities – have hyper-real, conversational interactions with customers and fans in any language. It’s perfect for India where there are 22 officially recognized languages — and in reality, over 100 more.”
Proto partner Ikonz is a specialist in licensing IP rights. Ikonz has secured exclusive global rights to Mr. Ganguly’s voice, likeness and mannerisms, enabling the creation of an avatar that authentically captures the charisma, energy, and unique presence of one of cricket’s most celebrated figures. Ikonz’ brands the Proto activations in India HXR.
Amitabh Bachchan said, “This initiative by IDFC FIRST Bank highlights the role of technology in creating immersive customer experiences. It is fascinating to see how innovation continues to redefine connections. I am pleased to see my digital avatar playing a part in this journey.”
Shreepad Shende, Head of Business Excellence and Corporate Strategy at IDFC FIRST Bank, said, “This technology makes banking simpler, faster, and more engaging.”
Mr. Ganguly said he is excited to see his digital avatar come to life via Proto Hologram and to explore the technology’s potential across sports, entertainment, education, and beyond. “Ikonz’s commitment to authenticity and respect for my personal brand gives me full confidence in this partnership,” said Sourav Ganguly.
“Dada has always been at the forefront of cricketing excellence and innovation. With this digital avatar, we’re thrilled to bring his spirit to new audiences and industries around the world. The avatar speaks, moves, and emotes exactly as Sourav Ganguly would,” said Abinav Varma Kalidindi, CEO of Ikonz.
Proto also counts dozens of Fortune 500 companies as partners and clients, as well as dozens of major universities, major airports, museums, hospitals, retailers and more. Partners and clients include AARP, Accenture, Amazon AWS, CBS, Delta Airways, HPE, Intec, PwC, Siemens, Softbank, Walmart and Verizon.
The sports world includes over 65 active and retired professional athletes who have invested in Los Angeles-based Proto. The technology has been installed in over 50 major stadiums and arenas, been utilized by the NFL, NBA, WNBA, MLB, NHL, Major League Soccer, NCAA, UFC, WWE, PFL and at events such as the Woman’s World Cup. Most recently Tiger Woods appeared via Proto at his TGL Golf arena in Florida in a partnership with Best Buy. Other athletes who have used Proto include Usain Bolt, Lewis Hamilton, Mary Fowler, Nick Kyrgios, Francis Ngannou and Son Hueng-min.
Among other activations in India, Proto has been seen on the show Bigg Boss Telugu, featuring host Nagarjuna.
About its role managing Mr. Ganguly’s IP, Ikonz states, “By securing exclusive IP rights to Dada’s voice, likeness, and mannerisms, Ikonz ensures that any organisation or brand seeking to leverage the digital avatar will engage directly with Ikonz as the sole representative and licensor. This strategic approach safeguards the integrity of Sourav Ganguly’s personal brand while opening limitless possibilities.”
About Proto Inc.: Proto Inc. is the patented leader in hologram technology and AI spatial computing. Proto devices and its platform are in use across enterprise, finance, healthcare, education, retail, hospitality, sports and entertainment. Invented in Los Angeles and with showrooms and distribution partners around the globe, Proto distributes the large Proto Epic and Proto Luma, the desktop-sized Proto M, and a suite of hologram AI and spatial computing services. Learn more at protohologram.com
Source: United States Navy (Logistics Group Western Pacific)
CHINHAE NAVAL BASE, Republic of Korea – U.S. Navy divers from Mobile Diving and Salvage Unit (MDSU) 1 and their counterparts from the Republic of Korea Navy (ROKN) successfully concluded Salvage Exercise (SALVEX) Korea 2025, in Chinhae, South Korea on April 11, 2025.
This year’s exercise marked over four decades of partnership, emphasizing enhanced interoperability in a range of complex diving and salvage operations.
Throughout SALVEX Korea 2025, divers participated in a range of practical training evolutions. These included gear familiarization, tactical procedure exchanges, and full-mission profile salvage operations, all designed to enhance their ability to work together seamlessly.
“The ROKN divers are incredibly skilled and professional. They bring a unique perspective and approach to every challenge, and we learn from each other every time we are in the water together,” said Chief Warrant Officer 2 Nick Blankshine, Company Commander for MDSU Company 1-8. “That shared knowledge and those bonds of trust are essential for facing maritime challenges together.
Divers sharpened their search and recovery expertise, practicing the location and recovery of simulated deceased bodies from a mock wreckage on the sea bed. Showcasing cutting-edge technology, U.S. Navy divers trained their ROKN counterparts on the Diver Augmented Vision Display system, which significantly enhances underwater visibility in challenging conditions.
Divers also conducted deep sea dives to 170 feet, utilizing a wet dive bell deployed from the Tongyeong-class salvage and rescue ship ROKS Gwangyang (ATS-32).
“Being lowered into the ocean inside a dive bell is a surreal experience,” said Navy Diver 3rd Class Anthony Briggs, assigned to MDSU 1. “One minute you’re surrounded by the team, the next it’s just you, your dive partner, and the emptiness of the ocean. It makes you feel small, for sure, but it also reinforces the trust you have in your training and the people on the surface.”
Demonstrating their proficiency with unmanned systems, ROKN divers showcased their remotely operated vehicle, used for underwater exploration and object manipulation. U.S. Navy divers observed the demonstration, sharing their own experiences and insights on utilizing remotely operated underwater vehicle technology in challenging underwater environments. This exchange of knowledge underscored the commitment to shared learning throughout SALVEX.
“Working alongside the ROK navy divers during the search and recovery was an incredible experience. Despite our different backgrounds, we were united by our shared training and commitment to the mission,” said Briggs. “The teamwork showcased during the exercise is a true testament to the power of SALVEX.”
SALVEX Korea 2025 stands as a powerful testament to the enduring U.S. – ROK Alliance and its unwavering commitment to a free and open Indo-Pacific. Through continued bilateral exercises and cooperation, the U.S. and ROKN stand ready to respond to any challenge.
Commander, Logistics Group Western Pacific supports deployed surface units and aircraft carriers, along with regional allies and partners, to facilitate patrols in the South China Sea, participation in naval exercises and response to natural disasters.
OSAN AIR BASE, GYEONGGIDO [KYONGGI-DO], South Korea — Two U.S. Air Force B-1 Lancers and two F-16 Fighting Falcons joined two Republic of Korea Air Force F-35A Lightning IIs and KF-16s for combined training in airspace over western ROK April 15.
