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Global uncertainties strengthen Selangor’s push for regional collaboration

6 days ago

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by SHAUQI WAHAB

STRONGER regional collaboration amid a backdrop of global trade disruptions and economic uncertainty are necessary for the growth of the nation.

Selangor state exco for investment, trade and mobility Ng Sze Han (picture) said conventional systems of trade have been upended as countries grapple with shifting tariffs and supply chain shocks.

He pointed to India’s recent experience, where a reported 50% tariff imposition created panic among small and medium enterprises, as a stark example of today’s volatility.

“These events remind us that we cannot succumb to complacency or rely too heavily on one or two markets.

“Each crisis presents both an opportunity and a cause for optimism, as we must continuously innovate and strengthen collaboration closer to home,” he said during the launching ceremony of Selangor International Business Summit (SIBS) 2025 today.

He stressed that Selangor’s response lies in leveraging technology and inclusivity.

While artificial intelligence (AI) has attracted global attention, he argued it should not be viewed as an end in itself, but as a tool to empower industries ranging from food and beverage manufacturing to aerospace, chip design and healthcare.

Ng also framed SIBS as a platform to build ASEAN’s collective strength, adding that South-East Asia’s diversity and shared values can become a recipe for success.

“We cannot wallow and drown in pessimism solely because some months and years feel uncertain.

“To succeed in a world loaded with landmines, we must be brave and have the courage to think not in two or three years, but in the next 20 to 30 years,” he said.

Last year’s event saw nearly RM14 billion worth of potential transactions, almost double the previous year.

He expressed confidence that the state can surpass that figure, citing the strong interest from investors to expand or relocate operations in Selangor.

“What sets SIBS apart is its spirit of inclusivity. We believe South-East Asia is stronger when all voices — big or small, established or emerging — are given space to contribute,” he said.

The ninth edition of SIBS will be held from Oct 8 to 11, 2025, at the Kuala Lumpur Convention Centre (KLCC).

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6 days ago 0 comments

PR Newswire

BioArctic: Interim Report for the period April – June 2025

6 days ago

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Increasing Leqembi® royalties and new partnership with Novartis

STOCKHOLM, Aug. 28, 2025 /PRNewswire/ —

Events during the second quarter 2025

The European Commission granted Marketing Authorisation (MA) for Leqembi® (lecanemab), triggering a milestone payment of EUR 20 M from Eisai
The EU granted Exidavnemab orphan designation for multiple system atrophy (MSA) and the European Patent Office extended patent protection until 2041
Approval to include MSA patients in the phase 2a study with exidavnemab
BioArctic’s partner Eisai issued Leqembi sales forecast of JPY 76.5 billion for its fiscal year 2025 (Apr-25 – Mar-26), representing a 73% increase year over year
The safety review of the first part of the phase 2a study with exidavnemab supported initiating the second part of the study with a higher dose
BioArctic launched 2030 ambitions at Capital Markets Day

Events after the end of the second quarter

The latest findings on lecanemab were presented at the AAIC conference which:
- showed that early and continued treatment with lecanemab indicated increasing benefit after four years with maintained safety profile
- real world data from nine US clinics where 84% of patients did not progress to the next stage of the disease, with safety data in line with the Clarity AD study
- confirmed appropriateness of 360 mg weekly subcutaneous dosing for maintenance treatment, and equivalency with current IV maintenance treatment
- Leqembi launch initiated in the EU, starting in Austria and Germany
- Option, collaboration and license agreement signed with Novartis, with an upfront payment of USD 30 million plus additional potential milestones and royalties

Financial summary April – June 2025

Net revenues amounted to SEK 392.1 M (49.8), of which SEK 162.5 M (42.6) in royalties for Leqembi
Operating profit amounted to SEK 179.1 M (-75.8)
Profit for the period amounted to SEK 96.6 M (-68.4)
Earnings per share before dilution amounted to SEK 1.09 (-0.77)
Earnings per share before and after dilution amounted to SEK 1.09 (-0.77)
Cash flow from operating activities amounted to SEK 1,147.1 M (-94.3)
Cash and cash equivalents and short-term investments at the end of the period amounted to SEK 1,916.1 M (889.7)

Comments from the CEO

“We are already starting to deliver on our newly launched ambitions for 2030.”

It has been an eventful and very positive period since our last report. We have seen strong data for Leqembi, a clear increase in sales, continued progress in our development portfolio, and successfully held our first Capital Markets Day. After the end of the second quarter we also signed a new collaboration agreement with another of the world’s largest pharmaceutical companies. We are already starting to deliver on our newly launched ambitions for 2030.

I am particularly excited about our new agreement with Novartis, announced this week. It differs from our previous collaborations as it combines our BrainTransporter technology with one of Novartis’ own drug candidates. This is an important recognition of the growing need for precision neurology and of the unique potential of our BrainTransporter platform in particular. The agreement includes an upfront payment of USD 30 million to BioArctic. In the initial research collaboration, we will develop a new drug candidate by combining the BrainTransporter technology with an antibody developed by Novartis. Should Novartis decide to exercise its option after the evaluation, they will assume full responsibility for global development and commercialization. This could result in additional milestone payments of up to USD 772 million, as well as tiered mid-single digit, royalties on future global sales. The agreement highlights the increasing recognition that future treatments for brain diseases will likely re-quire innovative delivery mechanisms – and that our technology is at the forefront of this transformation.

Turning to Leqembi, we continue to see strong momentum. Sales increased significantly during the quarter and our royalty revenue reached SEK 162.5 million – an increase of around 280 percent compared with the same quarter last year, and approximately 60 percent compared with the previous quarter. We are looking forward to seeing the development in the EU now that the launch has just started in Austria and soon also in Germany. In the Nordics, Eisai has now submitted dossiers regarding price and recommended use to all relevant authorities in all countries and the launch preparations are progressing as planned. The growing number of patients benefiting from Leqembi also means that more and more data is being generated on how the drug works outside of clinical trials. At the AAIC conference (Alzheimer’s Association International Conference) at the end of July, several presentations addressed precisely this. One of the highlights was data from an ongoing real world evidence study at nine clinics in the USA, which showed that 84 percent of patients treated with Leqembi remained stable or improved after an average of one year of treatment, while safety data were in line with phase 3. These are very strong data, and I look forward to seeing results from the full study towards the end of 2025. Eisai also presented new data from the phase 3 open label extension study, showing that for patients treated with lecanemab for four years, the disease progression was delayed by about a year compared to the natural course of the disease, and the benefit increased the longer the patients remained on treatment. Lastly, data from studies regarding the subcutaneous dosing form of Leqembi, which supported the application currently being reviewed by the FDA in terms of pharmacokinetics, efficacy, safety and usage. Subcutaneous dosing will allow patients to easily and within 15 seconds be treated at home, enabling continued treatment without visiting an infusion center.

In addition to Eisai’s presentations at AAIC, new guidelines for the use of blood biomarkers in the diagnosis process were presented. This will have a major impact on the possibility to find and diagnose more patients at an early stage, which is important for achieving the best possible effect with Leqembi. An indirect treatment comparison study was also presented, concluding that Leqembi has the lowest risk of ARIA-related side effects out of the two anti-amyloid antibodies available on the market.

Exidavnemab, our most advanced project within alpha-synucleopathies such as Parkinson’s disease and multiple system atrophy (MSA), has made considerable progress during the quarter. First and foremost, the first part of the phase 2a study has been completed with results that support continued development and have allowed us to proceed to the higher dose in the second part of the study. Initially, we intended to include only Parkinson’s patients but will now also include twelve MSA patients in part two. This is particularly important as we have received orphan designation for exidavnemab in both the US and EU for the MSA indication, which among other things enables a faster development path going forward.

Finally, at our capital markets day, we launched our ambitions for 2030 focused on establishing Leqembi as treatment for Alzheimer’s disease, building a broader and more balanced pipeline, adding more global long-term partnerships and becoming sustainably profitable, enabling recurring dividends. To achieve this, we will increase our investments in innovation while broadening our focus in severe brain diseases. Guided by our 2030 ambitions, we will continue to build Bio-Arctic for the benefit of both patients and shareholders.

With steadily increasing royalty revenues, a drug soon ready for launch in Europe and the Nordics, an additional BrainTransporter partnership, and an organization prepared for the next step on our journey, the future looks bright for BioArctic.

Gunilla Osswald
CEO, BioArctic AB

Invitation to presentation

BioArctic invites investors, analysts and media to an audiocast with teleconference (in English) today, August 28, at 9:30–10:30 a.m. CET. CEO Gunilla Osswald and CFO Anders Martin-Löf will present BioArctic, comment on the report and answer questions.

If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.

Webcast: https://bioarctic.events.inderes.com/q2-report-2025/register

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

https://events.inderes.com/bioarctic/q2-report-2025/dial-in

The webcast will afterwards also be available on demand at BioArctic’s corporate website

https://www.bioarctic.com/en/investors/financial-reports-and-presentations/

For more information, please contact

Anders Martin-Löf, CFO,
E-mail: [email protected]
Telephone +46 706 83 79 77
Oskar Bosson, VP Communications and Investor Relations
E-mail: [email protected]
Telephone: +46 704 10 71 80

The interim report is such information as BioArctic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, though the agency of the named contact persons, at 8:00 a.m. CET on August 28, 2025.

About BioArctic AB

BioArctic AB (publ) is a Swedish research-based biopharma company focusing on innovative treatments that can delay or stop the progression of neurodegenerative diseases. The company invented Leqembi® (lecanemab) – the world’s first drug proven to slow the progression of the disease and reduce cognitive impairment in early Alzheimer’s disease. Leqembi has been developed together with BioArctic’s partner Eisai, who are responsible for regulatory interactions and commercialization globally. In addition to Leqembi, BioArctic has a broad research portfolio with antibodies against Parkinson’s disease and ALS as well as additional projects against Alzheimer’s disease. Several of the projects utilize the company’s proprietary BrainTransporter technology, which has the potential to actively transport antibodies across the blood-brain barrier to enhance the efficacy of the treatment. BioArctic’s B share (BIOA B) is listed on Nasdaq Stockholm Large Cap. For further information, please visit www.bioarctic.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/bioarctic/r/interim-report-for-the-period-april—june-2025,c4225542

The following files are available for download:

https://mb.cision.com/Main/9978/4225542/3632494.pdf	BioArctic_Interim Report for the period April â€” June 2025
https://mb.cision.com/Public/9978/4225542/a986a41bbb5b14b1.pdf	Press release_BioArctic Interim Report April – June 2025

View original content:https://www.prnewswire.com/news-releases/bioarctic-interim-report-for-the-period-april–june-2025-302540826.html

SOURCE BioArctic

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6 days ago 0 comments

News

Govt to terminate underperforming contractors to speed up PBH Sabah project

6 days ago

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by HIDAYATH HISHAM

THE government has pledged tighter oversight of the Pan Borneo Highway (PBH) in Sabah, with contracts of non-performing companies set to be terminated to ensure the project progresses more smoothly.

Prime Minister (PM) Datuk Seri Anwar Ibrahim said some firms had been granted contract extensions two or three times but still failed to deliver their work as scheduled.

“There are those whose contracts were extended, some twice, some three times. I have terminated them so that we can re-tender and, God willing, succeed in seeing the PBH project move faster. I am confident that with this more transparent tender approach, the project can proceed better.

“I accept the criticism (of delays in Sabah). There is no reason why the same project can be 98% completed in Sarawak, but its failures are mostly in Sabah. That is why the approach must be firmer, braver and more transparent,” he told the Dewan Rakyat during PM’s Question Time today.

He was responding to a supplementary question from Datuk Seri Dr Ronald Kiandee (Perikatan Nasional [PN]-Beluran), who raised concerns over delays in Sabah compared to Sarawak.

Anwar explained that previous requirements imposed by the state government, which limited contracts to local firms, had also contributed to setbacks.

“I said any company can do it, including big companies, on condition that small projects are distributed to state companies. (The delays in) Sabah, we inherited (the tender system), this is not new.

“Since seven, eight years ago, when the project was approved, the state tightened the requirements. It had to involve state companies, and then its implementation was very weak and many had to be cancelled,” he said.

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6 days ago 0 comments

Economy News

Anwar: Govt has never sidelined state development

6 days ago

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by HIDAYATH HISHAM

THE government has never sidelined the development of any state, including those governed by the Opposition.

Prime Minister (PM) Datuk Seri Anwar Ibrahim said allocations had in fact been increased based on specific needs, with some projects prioritised under the Madani Economy Framework and the New Industrial Master Plan 2030, such as the Johor-Singapore Special Economic Zone (JSSEZ).

“For example, in Sabah, if we look from 2022 to 2025, development expenditure rose sharply, from RM5.2 billion to RM6.7 billion, Sarawak from RM4.7 billion to RM5.9 billion, Terengganu from RM1.4 billion to RM1.8 billion, Kelantan from RM2.4 billion to RM3.2 billion, Kedah from RM1.6 billion to RM2.2 billion and Perlis from RM400 million to RM600 million.

“This shows that under the Madani Government they are not sidelined but instead increased based on needs,” he said during PM’s Question Time today.

Anwar said allocations in Sabah and Sarawak required large sums, with the Pan Borneo Highway (PBH) costing RM15.9 billion and the Sabah-Sarawak Link Road nearly RM10 billion.

For the East Coast Rail Link (ECRL), which involves Kelantan, Terengganu, Pahang and part of Selangor, the total cost amounts to RM74.96 billion.

This is in addition to the Central Spine Road project across Kelantan, Terengganu and Pahang valued at RM6.38 billion.

“This explanation is necessary because it rebuts the perception that there has been neglect, as has long been alleged. When the figures are presented, they cannot be disputed, but the old narrative is still repeated.

“I have mentioned repeatedly about the flood mitigation plan (RTB) for the whole country (costing) RM25.08 billion and concentrated largely in Kelantan, Pahang and Terengganu at a cost of RM8.08 billion. This is not a matter of favouritism, this is a matter of needs (according to each state),” he said.

Anwar added that a RM1 billion loan via Pengurusan Aset Air Bhd (PAAB) had been channelled to Kedah and Kelantan, including the RM922 million Jeniang Water Transfer Scheme in Kedah.

He said RM700 million had been allocated for the Sidam Logistics Hub under the Northern Corridor Economic Region (NCER), RM723 million for infrastructure in Chuping Valley in Perlis, and RM300 million for upgrading the Timah Tasoh Dam.

“These figures are in the 12th Malaysia Plan (MP12) and in MP13, we will ensure the amounts mentioned overall are certainly much larger,” he said.

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6 days ago 0 comments

News Property

PM Anwar: Urban Renewal Bill crucial to replace rundown housing with dignified homes

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KUALA LUMPUR — Prime Minister Datuk Seri Anwar Ibrahim has stressed the urgent need to enact the Urban Renewal Bill 2025 to facilitate the redevelopment of rundown housing and ensure more dignified living conditions for Malaysians.

“It must be done. We cannot allow cities to boast structures like the Twin Towers while families continue living in rundown housing. That’s unacceptable,” he said during Minister’s Question Time in the Dewan Rakyat today.

Anwar said that the Bill provides the legal framework for the government to redevelop ageing urban housing areas, with the guarantee that residents will be given significantly improved homes.

“The Bill will give the government the space to build more comfortable homes that suit the times. In many cases, the majority of residents (of the rundown housing) are Malays. The Bill proposes that those who own one-bedroom units will receive new homes with a minimum of three bedrooms.”

The Prime Minister said this in reply to Datuk Ahmad Amzad Mohamed (PN-Kuala Terengganu), who raised concerns that the Bill might allow homes to be forcibly demolished and redeveloped after just 30 years.

Anwar also addressed the concern by citing firsthand observations of poor living conditions in areas like the Seri Perlis flat in the capital.

“At Seri Perlis, I saw the reality that a one-bedroom unit is occupied by not just one but sometimes two families. It’s our responsibility to find a way to rebuild these homes into three-bedroom units that are more suitable for family life,” he said.

Anwar emphasised that the issue of public housing is personally significant to him and must not be sidelined, particularly when the country is seeing encouraging economic development.

The Prime Minister also hit out at certain quarters for attempting to racialise the Bill, accusing them of spreading false narratives that the Bill is designed to alter the Malay-majority demographics in urban areas.

“I want to ask, since we took over the government, even with DAP in the coalition, which Malay-majority area have we handed over (to non-Malays)? Don’t accuse us of sidelining or oppressing Malays.

“I am no puppet. I have a mandate, and I will defend the interests of the Malays and Bumiputera, who form the majority,” he asserted.

Anwar said that instead of making baseless claims, critics, including the opposition, should table constructive recommendations to strengthen the proposed legislation.

“I’m not saying that the proposed legislation is a perfect one. We can always make adjustments.

“The issue of threshold values, for example, can be further discussed during the debate session,” he said in reply to Datuk Seri Hamzah Zainuddin (PN-Larut), who called for the postponement of the second reading of the Bill.

The second reading of the Bill is listed as the seventh item on the Dewan Rakyat’s Orders of the Day and Motions today. — BERNAMA

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6 days ago 0 comments

News

Medical officer loses RM2.6m to online investment scam

6 days ago

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JOHOR BAHRU — A medical officer in Johor has lost RM2.6 million to a bogus online investment scheme.

Johor police chief Datuk Ab Rahaman Arsad said the 45-year-old victim had responded to a stock investment advertisement on social media on May 25.

“He clicked on a WhatsApp link and contacted the suspect, who offered an investment with an overseas company, promising returns of between five and 15 per cent.

“The victim was also asked to download an application on his mobile phone, supposedly to enable him to monitor his investments,” he said in a statement today.

He said the victim made 56 money transfers totalling RM2,603,900 into eight bank accounts as directed by the suspect between May 25 and Aug 8.

“The victim suspected he had been cheated when he failed to withdraw the investment funds via the application provided. He suffered losses amounting to RM2,603,900 and lodged a police report at a nearby station yesterday,” he said.

Ab Rahaman said the case is being investigated as cheating under Section 420 of the Penal Code, which carries a jail term of between one and 10 years, with whipping and a possible fine.

He urged the public to be cautious about investments promising risk-free profits or ‘guaranteed returns’, and to check with Bank Negara Malaysia or the Securities Commission Malaysia when in doubt.

“The public can also follow the Commercial Crime Investigation Department social media pages on Facebook, Instagram and TikTok to learn about the latest commercial crime modus operandi,” he added.

They can use the ‘Semak Mule’ application to verify bank accounts and phone numbers before proceeding with payments.

He advised victims to immediately contact the National Scam Response Centre via the 997 hotline to block the outflow of funds from suspects’ accounts. — BERNAMA

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6 days ago 0 comments

Business News

Duopharma Biotech appoints Wan Amir-Jeffery as group CEO

6 days ago

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KUALA LUMPUR — Duopharma Biotech Bhd has appointed Wan Amir-Jeffery Wan Abdul Majid (picture) as the company’s group chief executive officer (Group CEO), effective Oct 1, 2025.

Duopharma Biotech chairman Datin Paduka Kartini Abdul Manaf said Wan Amir-Jeffery has contributed immensely to the group strategically and operationally. “I am confident that Duopharma Biotech will continue its healthy growth trajectory, strengthening its position as a leading pharmaceutical company in Malaysia,” she said in a statement today.

Wan Amir-Jeffery joined Duopharma Biotech in September 2016 as chief strategy officer before being promoted to chief operating officer in 2018, chief commercial officer in 2020, CEO – Commercial in 2022 and CEO – Group Operations in 2024.

He holds a Bachelor of Business Administration (International Trade) degree from the University of Central Arkansas in the United States and is an alumnus of the Senior Management Development Program of Harvard Business School.

He is also currently a vice president of the Malaysian Organisation of Pharmaceutical Industries (MOPI) for the 2025–2027 term. — BERNAMA

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6 days ago 0 comments

PR Newswire

FinChain under Fosun Wealth Holdings Officially Launches and Secures Multi-Million-Dollar Financing

6 days ago

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HONG KONG, Aug. 28, 2025 /PRNewswire/ — FinChain, a Web3 brand incubated by Fosun Wealth Holdings, officially launched and announced that it has signed agreements with a group of investors in connection with its first round of external financing, for an investment of several million U.S. dollars. On the same day, Fosun Wealth Holdings and FinChain also partnered with seven leading Web3 institutions to create a new ecosystem for crypto finance. These milestones not only underscore FinChain’s active role in developing Web3.0 infrastructure in the Asia-Pacific region but also mark a significant expansion of Fosun Wealth Holdings’ strategic footprint in the Real World Asset (RWA) sector.

On the same day, “Stablecoin & RWA Innovation Forum” was held in Hong Kong, co-hosted by FinChain, Vaulta (formerly EOS Network), a globally renowned Web3 public blockchain, and Feixiaohao, a prominent blockchain rating agency. The event brought together over 200 financial executives, scholars, and entrepreneurs from organizations including Fosun Wealth Holdings, Solana, OSL, CipherBC, Matrixport, Animoca Brands, RD Technologies, Standard Chartered, Circle, BOCOM International, BNY Mellon, Bank of China (Hong Kong), SoftBank Asia, ICBC Asia, BITFUFU, and other major crypto infrastructure institutions.

Building a Blockchain Compliance Layer to Enhance Asset Liquidity

FinChain positions itself as a financial infrastructure platform that enables compliant on-chain circulation of real world assets. It is dedicated to improving the efficiency of on-chain and off-chain investment and financing, as well as asset transparency, by establishing a blockchain compliance layer and trust mechanisms. FinChain will also enhance global liquidity for compliant digital assets, serving as the “first stop for customer acquisition” for compliant assets like stablecoins. Compliant users can benefit from a seamless “one-time KYC, accessibility” service. FinChain prioritizes compliance requirements at the technical level to deliver efficient and secure services for users.

Cheng Kang, CEO of Fosun Wealth Holdings and Chairman of FinChain, said, “Fosun Wealth Holdings is fully committed to building an AI-driven, one-stop global Web5 (“Web2+Web3″) wealth management platform, creating a seamless ecosystem that integrates digital assets with real-world value. As a pioneer in this vision, FinChain is designed to develop a physical finance blockchain ecosystem for global users, focused on constructing on-chain compliant financial infrastructure. Our goal is to enhance the flow of assets and capital between on-chain and off-chain systems, drive a paradigm shift in investment and financing models, and co-build an open, interconnected, and trusted Web5 ecosystem with the global community.” Zhao Chen, CEO of FinChain, said, “FinChain’s mission is to create a global blockchain compliance layer, fostering a compliant blockchain ecosystem that brings real-world assets into DeFi, unlocking their immense value potential.”

On the same day, FinChain announced that it has signed agreements with a group of investors in connection with its first round of external financing, for an investment of several million U.S. dollars. The strategic investors include the Solana Foundation, Vaulta Foundation, Sonic Labs, Animoca Brands, Unified Ventures, and Tengyun Capital, among other leading Web3 companies and renowned venture capital firms. The funds will support FinChain’s global strategic expansion and business development through technological collaboration and ecosystem partnerships.

Partnering with Seven Leading Institutions to Build a New Crypto Finance Ecosystem

During the forum, Fosun Wealth Holdings and FinChain signed strategic cooperation agreements with Feixiaohao, Animoca Brands, Matrixport, CipherBC, FomoGroup, MetaComp, and Vaulta. Feixiaohao is a key Asian media platform; Animoca Brands is a top-tier investment firm; Matrixport is a leading crypto asset management group; CipherBC is a technology-driven crypto security provider; FomoGroup is one of the largest fintech groups in the Asia-Pacific; MetaComp is a licensed compliant exchange in Singapore; and Vaulta (formerly EOS Network) is the first on-chain bank providing full-chain services. These strategic partnerships will integrate efforts across brand building, asset management, technological infrastructure, and Asian payment channels, creating a new ecosystem for crypto finance that supports real-world assets within a compliant framework.

Vaulta, one of the forum’s co-organizers, also announced its deep collaboration with FinChain in the RWA and stablecoin sectors, marking a milestone in introducing traditional financial tools to blockchain infrastructure. Vaulta’s CBO, Sistine, highlighted at the forum that Vaulta aims to provide a one-stop solution for wealth management, trading, and payment services under a unified account, realizing the vision of a true Web3 bank. Feixiaohao, another co-organizer and a leading blockchain rating agency, released the “Asia RWA Rankings” and announced its global compliance strategy.

About FinChain

FinChain is a Web3 brand incubated by Fosun Wealth Holdings, dedicated to building a global real world asset (RWA) financial blockchain network for users. At its core, FinChain is developing a compliant layer for the blockchain ecosystem offering users a unified on chain identity system, and a developer-friendly hub for compliant resource distribution. This infrastructure empowers builders to rapidly launch and scale in both the DeFi space and traditional finance sectors.

View original content:https://www.prnewswire.com/news-releases/finchain-under-fosun-wealth-holdings-officially-launches-and-secures-multi-million-dollar-financing-302540746.html

SOURCE Finchain Hong Kong Limited

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6 days ago 0 comments

PR Newswire

From South Africa: AiMOGA Robotics Contributes to Sustainable Education Development Across the Continent

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JOHANNESBURG, Aug. 28, 2025 /PRNewswire/ — Chery hosted the “Champion for Education in Africa” public welfare event in Johannesburg, South Africa, where it officially launched the “Powering Tomorrow through Education” initiative and announced the establishment of the Chery Education Fund. The AiMOGA humanoid robot made its debut as an “Ambassador for Educational Friendship,” participating in guest reception, the opening ceremony, and key dialogue sessions.

Chen Chunqing, Executive Vice President of Chery International, stated: “This is only the beginning. In the future, we will explore broader applications of robots in education — from multilingual communication to remote classroom support — by collaborating with governments, international organizations, and local communities to co-build a more sustainable education model.”

Mornine serves as event greeter at the “Champion for Education in Africa” venue. (PRNewsfoto/AiMOGA Robotics)

AiMOGA Robotics Debuts Onsite, Shaping a New Image in Educational Engagement

Initiated by Chery and joined by UNICEF, the South African Department of Basic Education, and local educational institutions, the event focused on strengthening collaboration between the education sector, private enterprises, and nonprofits. Madam Deputy President Humile Mashatile, Premier Panyaza Lesufi, and Ambassador Wu Peng attended and voiced support for cross-sector cooperation in education.

As the only embodied AI robot onsite, AiMOGA’s first-generation humanoid “Mornine” welcomed guests in fluent English, participated in the stage unveiling, and joined the panel Q&A. When asked about the role of robots in education, Mornine replied: “Robots can become educational assistants, helping children access better and more diverse learning resources.”

From Automotive Retail to Educational Venues: Expanding the Application Boundary of AiMOGA

Throughout the event, Mornine demonstrated stable performance across multilingual and multicultural tasks, offering humanlike interaction to enhance communication. Supported by Chery large language models, AiMOGA robot can deliver natural conversations and dynamic presentations — making it suitable for classrooms, showrooms, and training sessions.

Beyond the educational pilot, AiMOGA robots has been widely deployed across Chery’s 4S dealerships in Indonesia, the UAE, and other markets — undertaking tasks such as smart vehicle walkthroughs and coordinated reception services.

Extending Corporate Responsibility to Empower Educational Sustainability

Zhang Shengshan, Executive Vice President of Chery International, emphasized: “Corporate social responsibility is not a one-time gesture, but a long-term commitment.” Looking ahead, Chery will work with global partners to advance inclusive education through digital tools and intelligent robotics — contributing to a more equitable and sustainable future.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-south-africa-aimoga-robotics-contributes-to-sustainable-education-development-across-the-continent-302540744.html

SOURCE AiMOGA Robotics

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6 days ago 0 comments

News

Eight DBKL land sites to be developed for subsidised rental housing

6 days ago

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KUALA LUMPUR — The Federal Territories Department (JWP) has identified eight sites for the development of Subsidised Public Rental Housing (PASS) to ensure the B40 group continues to have access to safe, liveable and inclusive housing in the federal capital.

Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa (picture) said the projects, to be developed on land owned by Kuala Lumpur City Hall (DBKL), will be carried out in phases, prioritising areas with high demand.

“The eight locations identified are Bandar Baru Sentul (0.57 hectares), Taman Desa (seven hectares), Pekan Salak Selatan (1.58 hectares), Jalan Selimang Cheras (1.36 hectares), Tasik Permaisuri (0.41 hectares), Taman Alam Damai (0.45 hectares), Wayfield Sungai Besi (0.82 hectares) and Taman Desa Seputeh (1.12 hectares),” she said during the oral question-and-answer session in the Dewan Negara today.

She was responding to a supplementary question from Senator Datuk Seri Prof Dr Awang Sariyan on the government’s efforts to ensure vulnerable groups in the city continue to have access to safe housing.

Under the Kuala Lumpur Local Plan 2040 (PTKL2040), Dr Zaliha said PASS was introduced to support groups such as senior citizens, single mothers and low-income individuals unable to afford homes in the city.

PTKL2040 outlines several strategies, including the creation of a 353.53-hectare R4 Residential Zone specifically for affordable housing, as well as plot ratio incentives for private developers who incorporate Affordable Housing (RMM) components in mixed-use projects.

“The government emphasises that affordable housing must not only meet demand in terms of numbers, but also be integrated with basic facilities such as schools, clinics, green spaces and public transport to ensure a better quality of life,” she said.

Dr Zaliha added that the government is working across agencies, including with the Federal Territories Islamic Religious Council (MAIWP), to help asnaf groups secure homes through a rent-to-own scheme.

She said financial institutions are also being engaged to offer intergenerational loans, enabling children to take housing loans on behalf of their ageing parents who no longer qualify for conventional financing.

Besides PASS, programmes such as Residensi MADANI, PR1MA, PPAM and SASaR are also being rolled out as part of a comprehensive plan to make Kuala Lumpur an inclusive, sustainable and competitive city by 2040. — BERNAMA

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