The 9th International Festival of the Intangible Cultural Heritage Kicks off

CHENGDU, China, May 29, 2025 /Xinhua-AsiaNet/--

The 9 th  International Festival of the Intangible Cultural Heritage is held from May 28 to June 3 at the Chengdu International Intangible Cultural Heritage Expo Park.

Co-hosted by the Sichuan Provincial People's Government, the Ministry of Culture and Tourism, UNESCO, and the National Commission of the People's Republic of China for UNESCO, the festival features nearly 600 representative intangible cultural heritage (ICH) items for exhibitions and performances. Centered on integrating ICH into modern life, it showcases innovative achievements in the fusion of traditional culture and technology, while fostering in-depth collaborations between ICH-branded intellectual properties (IPs) and related industries.

A "Guest Country + Guest City" mechanism is introduced for the first time, with Malaysia serving as the guest country and Algiers (Algeria), Penang (Malaysia), Chiang Mai (Thailand), and Bari (Italy) as guest cities. The event gathers 400 participants, including ICH inheritors, scholars, government officials, and foreign diplomatic envoys stationed in China, representing over 60 countries and regions.

A dedicated "Technology Empowering ICH" section is arranged this time, where 16 research institutions and tech enterprises will present over 30 interactive devices. Drawing inspiration from ICH items such as silk weaving and the folklore of Journey to the West, the exhibits have incorporated VR tours, culture-themed games and short videos, to give fresh life to traditions.

Since its inception in 2007, the International Festival of the Intangible Cultural Heritage has been successfully held for eight consecutive sessions, establishing itself as a vital platform for showcasing heritage preservation achievements and facilitating cultural exchange. As the host city of the event, Chengdu has demonstrated equally remarkable accomplishments in local intangible cultural heritage preservation. Chengdu is home to 336 ICH items recognized at the city level or higher, including 25 national-level treasures. The city also has 382 officially certified ICH practitioners, with 21 of them holding the prestigious national-level master title.

Statistics reveal that Chengdu holds over 260 cultural heritage events for the public every year, attracting 300,000 participants. These activities have triggered widespread public enthusiasm for preserving intangible cultural heritage. Now Chengdu has 14 special cultural districts featuring ICH, along with 227 traditional craft product lines. Together, they bring an annual economic value of 30 billion yuan and provide jobs for more than 50, 000 local residents. The "Chengdu Handicraft" public brand has cumulatively generated over 400 million yuan in sales for heritage inheritors, demonstrating the tremendous commercial potential of ICH industrialization.

Source: The Sichuan Provincial People's Government

--BERNAMA

Sidra Capital Joins Bursa Suq Al-Sila’ as a Member

 

SINGAPORE, May 19 (Bernama-BUSINESS WIRE) -- Sidra Capital has officially joined Bursa Suq Al-Sila’ (BSAS) as a commodity trading participant, placing it alongside central banks, global commercial banks, and international multilateral financial institutions.

BSAS is a Malaysia-based commodity trading platform designed to facilitate Islamic liquidity management and financing by Islamic financial institutions. BSAS has become a leading platform for tawarruq transactions, with an average daily trading value of approximately USD 10 billion, a significant rise from USD20 million when it was launched in 2009.

“Sidra Capital is a well-established player in Islamic asset management, specializing in real estate and private finance. As we expand our footprint in the Asia-Pacific we see immense potential for Shariah-compliant solutions, having direct access to one of the most widely used platforms for tawarruq transactions strengthens our competitive edge,” said Ghassan Soufi, Vice Chairman at Sidra Capital.

“Tawarruq or commodity murabaha is a highly practical solution to shariah restrictions on financial transaction executions. As we look forward to entering further into the Asia Pacific private credit market, access to BSAS enhances our ability to close deals more efficiently and cost-effectively,” added Arif Rahim, CEO of Sidra Capital Singapore.

Traditionally, tawarruq transactions in Islamic financing are facilitated through brokers or intermediaries who execute trades on global commodity exchanges such as the London Metal Exchange. The establishment of BSAS, part of the publicly listed Bursa Malaysia Berhad group, allows financial institutions to trade directly on the platform, improving efficiency by eliminating intermediaries and leveraging cutting-edge technology.

Source: AETOSWire

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Contact

Sarah Abuzeid
Corporate Communications Division
prandmarketing@sidracap.com

Source : Sidra Capital

IEEE Provides Strategic Expertise as Indonesia Adopts First Age-Appropriate Design Regulation in Asia

IEEE catalyzes landmark binding regulation to protect children online


PISCATAWAY, N.J., May 15 (Bernama-BUSINESS WIRE) -- The IEEE Standards Association (IEEE SA), the global, consensus-building standards development organization of IEEE, the world’s largest technical professional organization dedicated to advancing technology for humanity, announces the culmination of its collaboration with policymakers on the recently passed Indonesian Government Regulation, Governance of Electronic Systems in Child Protection.

Through insights and expertise grounded in the IEEE’s initiatives and standards on children’s data governance and age-appropriate design, IEEE SA advanced frameworks for the age-appropriate design of internet platforms and systems in Indonesia’s regulatory process. This regulation is the first of its kind in Asia and the Global South, establishing enforceable requirements for digital platforms to protect children’s privacy, safety, and well-being, as a robust, holistic approach against children’s online addiction. Indonesia’s adoption of this landmark regulation represents a significant step forward for child online protection globally.

Children now make up roughly one-third of all internet users worldwide. Greater connectivity has enabled youths to benefit from educational content, communication tools, and entertainment, but it has also exposed them to harmful content, exploitation, data privacy risks, and potential addiction problems. In recent years, governments and civil society bodies have called for age-appropriate design—designing digital products with specific protections and features for children—to address these risks. Indonesia’s new regulation addresses this important topic by requiring online service providers to prioritize the best interests of children in their platform design and practices.

This regulation builds on the UN Convention on the Rights of the Child and its General Comment No. 25, by requiring that any digital product or service likely to be accessed by children provide a high level of privacy by default. Most notably, profiling and the precise geolocation of children are banned, and manipulative design practices, including nudging to weaken privacy settings or requesting more personal data than necessary, are prohibited.

“This is an example of IEEE putting its mission into practice in a concrete way to support societal and children’s needs, where IEEE’s global perspective and technical knowledge combined with the Indonesian authorities’ dedication to achieve a successful outcome,” said Sophia Muirhead, IEEE Executive Director and Chief Operating Officer. “Together, we enabled the development of a practical, forward-looking legal framework and regulation that will make the digital space safer for the next generation in Indonesia and, we hope, inspire similar actions worldwide.”

Indonesia’s new regulation is closely aligned with some of the most advanced legal frameworks and regulations in the world, such as the UK’s and California’s Age-Appropriate Design Codes. They also draw on internationally recognized standards, including IEEE 2089™, the IEEE Standard for Age Appropriate Digital Services Framework (based on the 5Rights principles for children), and IEEE 2089.1™, the IEEE Standard for Online Age Verification. By embedding key provisions of these standards, the regulation ensures that online services follow globally vetted guidelines for protecting children’s data and experiences. IEEE SA recently launched a related certification program to assist industry in conforming to age verification best practices.

“By contributing our neutral, world-class technical expertise to Indonesia’s policy development efforts, we helped address a complex socio-technical challenge—how to make the online world safer for children—in a way that balances innovation and protection,” said Alpesh Shah, IEEE SA Managing Director. “This achievement required unprecedented cooperation across technical, governmental, and civil society domains, and it underlines what is possible when we all work together for our children.”

The engagement in Indonesia serves as a model for collaborative policy development. Inspired by this and other successful engagements, IEEE SA recently launched the Technology Policy Collaborative to further leverage IEEE’s neutral, trusted expertise to help governments address complex technical and societal challenges in strategic areas, such as digital governance. Through efforts like these, IEEE SA reinforces its commitment to being a valued partner in advancing technology for the benefit of humanity.

• See more details about this collaboration in Indonesia
• Learn more about how IEEE is enabling trustworthy digital experiences for children

About the IEEE Standards Association

IEEE Standards Association (IEEE SA) is a collaborative organization where innovators raise the world’s standards for technology. IEEE SA provides a globally open, consensus-building environment and platform that empowers people to work together in the development of leading-edge, market-relevant technology standards, and industry solutions that shape a better, safer, and sustainable world. For more information, visit standards.ieee.org.

About IEEE

IEEE is the world’s largest technical professional organization and is a public charity dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice in a wide variety of areas ranging from aerospace systems, computers, and telecommunications to biomedical engineering, electric power, and consumer electronics. Learn more at www.ieee.org.

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Contact

Tania Olabi-Colón
Director, Brand Marketing & Communications

Corey Ruth
Manager, Marketing & Communications

standards-pr@ieee.org

Source : IEEE Standards Association

AM Best Revises Issuer Credit Rating Outlook to Negative for Korea P&I Club

HONG KONG, May 13 (Bernama-BUSINESS WIRE) -- AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Korea P&I Club (KP&I or the Club) (South Korea). The outlook of the FSR is stable.

The Credit Ratings (ratings) reflect KP&I’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the wide range of support that the Club receives from the South Korean government.

The Long-Term ICR outlook revised to negative from stable reflects increased pressure on the Club’s operating performance, following its sizeable net loss reported in 2024, which notably deviated from AM Best’s expectations. KP&I experienced two exceptionally large claim losses last year, which led to a record annual KRW 7.3 billion net loss and a combined ratio of 204% in 2024. This elevated concern regarding underwriting volatility and high susceptibility of its bottom line to the large claims under the current structure of a small premium base, high net retention level, and a loss-sensitive commission scheme. The Club’s five-year average combined ratio (2020-2024) of 139.5%, as calculated by AM Best, generally lags its global P&I peers with elevated volatility.

However, AM Best notes that following the recent underwriting restructuring with an improved risk portfolio, the Club’s overall risk exposure to potential high-severity losses has been materially reduced and its overall claims experience, excluding the two large claims, has shown a favourable trend since 2023. Nonetheless, AM Best expects that it will take some time for these mitigation measures to demonstrate sustained effects on the Club’s underwriting results.

KP&I’s risk-adjusted capitalisation is assessed at the strongest level, as measured by Best’s Capital Adequacy ratio (BCAR), and is expected to remain at that level over the intermediate term. Despite a moderate drop in available capital following a significant net loss in 2024, the Club’s balance sheet strength is supported by its low underwriting leverage and a highly conservative investment portfolio. Offsetting balance sheet strength factors include the Club’s small capital base, which can be susceptible to potential underwriting volatility from large losses and limited financial flexibility.

KP&I has a relatively modest presence in the global P&I market in comparison with the members of the International Group of P&I Clubs, in terms of geographic and product concentration. Nonetheless, the Club leverages its local expertise and strong network with South Korean shipping companies to maintain a stable presence in the domestic market.

Underpinned by its strategic role to support the long-term development of maritime infrastructure in South Korea, the Club receives a wide range of government support across various areas, including subsidies, corporate tax exemptions, a no dividend payout policy to its members, as well as domestic/overseas marketing and diplomatic efforts.

Negative rating actions may occur if the operating results of KP&I do not demonstrate sustained improvement, despite various underwriting measures and becomes no longer suitable for the adequate assessment category. Negative rating actions also may arise if support from the South Korean government is reduced to an extent that it no longer supports the current level of enhancement.

Positive rating actions could occur if the Club’s balance sheet strength fundamentals demonstrate material and sustained improvement.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Minji Cha
Financial Analyst
+852 2827 3424
minji.cha@ambest.com

Chanyoung Lee
Director, Analytics
+852 2827 3404
chanyoung.lee@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Source : AM Best

Trackinsight Releases 2025 Global ETF Survey: ETF Industry on Overdrive: Shifting Gears, Breaking New Barriers

 

Trackinsight, in partnership with J.P. Morgan Asset Management and S&P Dow Jones Indices, is proud to announce the launch of its sixth annual global ETF survey report: ETF Industry on Overdrive: Shifting Gears, Breaking New Barriers.


Hong Kong, May 13 (Bernama-GLOBE NEWSWIRE) -- Trackinsight, a global leader in ETF research and analytics, today announced the release of its Global ETF Survey 2025 Report, ETF Industry on Overdrive: Shifting Gears, Breaking New Barriers, in partnership with J.P. Morgan Asset Management and S&P Dow Jones Indices.

The global ETF engine is accelerating—and this year’s report captures every twist, turn, and acceleration along the way.

Drawing on insights from over 600 professional investors managing more than $1.1 trillion in ETF assets globally, and powered by Trackinsight’s extensive database of over 12,000 ETPs, the report delivers a comprehensive and forward-looking analysis of the ETF landscape.

What’s inside?

• Regional analysis covering major developments in Europe, Asia, and North America.
• Key trends across active management, fixed income, thematic investing, ESG strategies, cryptocurrencies, and the accelerating rise of income- and options-based ETFs.
• Over 80 bold predictions for ETF market for 2025 and beyond from influential industry leaders.

“ETFs didn’t just make investing easier—they sparked a global revolution. Today, they are powering a new era of clarity, innovation, and opportunity for investors everywhere. ETF Industry on Overdrive captures this extraordinary acceleration—and offers a glimpse into the future of our industry,” said Philippe Malaise, CEO of Trackinsight.

Key Survey Respondents’ Insights:

• ETF Adoption: Respondents primarily turn to ETFs for diversification, cost efficiency, and ease of trading. When selecting products, they prioritize performance, fees, liquidity, and the reputation of the provider, while ESG considerations tend to be secondary.
• Active Management: Use of active ETFs is rising, driven by lower fees compared to mutual funds, greater transparency, and the potential for outperformance, particularly in equities and fixed income. While concerns about track records and consistent performance remain, nearly 70% of respondents plan to increase their allocations to active ETFs over the next six months.
• Fixed Income: Corporate and government bond ETFs are the top choices, with respondents showing a balanced preference between active and passive strategies. 80% of respondents also plan to boost their exposure to actively managed fixed income ETFs in the coming months.
• Thematic: Respondents use thematic ETFs mainly for diversification and to make long-term strategic investments, particularly in disruptive technology and digital infrastructure. Liquidity, cost, and risk-return profiles are the key selection factors, and more than half of respondents intend to increase their allocations to thematic ETFs.
• ESG: Investments in ESG ETFs are largely driven by personal convictions and environmental priorities. However, greenwashing and transparency concerns remain major challenges. There is a strong preference for active ESG strategies, with more than half of respondents planning to increase their ESG ETF allocations — especially among European investors.
• Cryptocurrency: Crypto ETFs generally represent a small portion of portfolios, used mainly for diversification and long-term value appreciation. Respondents cite ease of access, regulatory protection, and security as key reasons for favoring ETFs over direct ownership, and nearly 60% plan to increase their allocations.
• Income and Options-Based Strategies: Dividend and fixed income ETFs continue to be primary tools for generating income, with growing interest in options-based strategies like covered calls and buffered products. Around 60% of respondents expect to increase investments in options ETFs alongside broader income-focused allocations.

“2025 is the year of active ETFs,” said Travis Spence, Global Head of ETFs at J.P. Morgan Asset Management. “In an environment defined by persistent market uncertainty, our newest Trackinsight Survey shows a decisive shift toward active strategies. Investors are seeking greater precision, adaptability, and risk-aware performance—and active ETFs are meeting that demand in core equities and fixed income. Over 90% of investors surveyed are planning to increase or maintain allocations to active ETFs.

“The role of financial indices within the ETF industry continues to evolve and are increasingly used as a powerful tool of innovation for institutional investors.” said Robert Ross, Chief Commercial Officer at S&P Dow Jones Indices.

In addition to the full study, Trackinsight have released a condensed digest summarizing key insights from the 2025 Global ETF Survey—also available at trackinsight.com.

About Trackinsight

Trackinsight, a subsidiary of Kepler Cheuvreux, is a global platform for professional ETF investors, delivering top-tier data, tools, research, and expertise for advanced fund selection and portfolio optimization.

Media Inquiries

Trackinsight
Please contact Rony Abboud, at rony.abboud@trackinsight.com

J.P. Morgan Asset Management  
For media inquiries in APAC, please contact Kathleen Wang at kathleen.w.wang@jpmorgan.com. 

SOURCE : TRACKINSIGHT

Lendlease Global Commercial REIT’s Singapore Portfolio Achieves Positive Retail Rental Reversion and Office Rental Uplift in 3Q FY2025

Key Highlights

• Retail portfolio achieved a positive rental reversion of 10.4%¹ with tenant retention rate remained healthy at 87.9%² by net lettable area (“NLA”).
• Jem office achieved a positive rental uplift of approximately 13%³.
• Visitation registered a decline of 0.2%⁴ and tenant sales declined 5.1%⁴ (both year-to-date), impacted by a softer retail landscape, outbound tourism and weakness in specific trade sectors like shoes & bags, fashion & accessories, and sporting goods & apparel.
• Refinanced S$200 million perpetual securities due in April 2025 with new issuance at a lower coupon rate and loans at lower costs of funding.
• Signed Shaw Theatres as a new tenant at Jem, replacing Cathay Cineplex.
• Completed asset enhancement works at the ground floor lobby of Building 3 in Milan, transforming it into a refreshed and welcoming space for tenants.
• Commenced refurbishment works to upgrade restrooms facilities at Jem to elevate the overall amenities and shoppers’ comfort.
• Construction at the multifunctional event space is progressing well and is on track to complete by 2H 2026.

SINGAPORE, May 8 (Bernama-GLOBE NEWSWIRE) -- Lendlease Global Commercial Trust Management Pte. Ltd. (the “Manager”), the manager of Lendlease Global Commercial REIT (“LREIT”), announces its third quarter business update for FY2025.

Operational Performance

LREIT’s portfolio committed occupancy remained stable at 92.1% as at 31 March 2025. Lease expiry profile remained well-spread with only 1.2% by NLA and 2.4% by gross rental income (“GRI”) due for renewal in FY2025. LREIT continued to maintain a long portfolio weighted average lease expiry (“WALE”) of approximately 7.3 years (by NLA) and 4.9 years (by GRI) respectively.

LREIT was awarded the tender to redevelop the 48,200 square feet⁵ car park at Grange Road. The site, to be redeveloped into a multifunctional event space, will maximise its full potential and create synergy with the “Discovery Walk”, which is linked to 313@somerset. Construction of the space is progressing well with piling works scheduled to be completed by end-2025.

Positive retail rental reversion and active asset management

LREIT’s retail portfolio has achieved 99.5% occupancy with a positive rental reversion of 10.4%¹ as at 31 March 2025. Tenant retention rate by NLA remained healthy at 87.9%².

Visitation registered a decline of 0.2%⁴ and tenant sales declined 5.1%⁴ (both year-to-date), impacted by a softer retail landscape, outbound tourism and weakness in specific trade sectors like shoes & bags, fashion & accessories, and sporting goods & apparel.

During the quarter, the Manager signed a lease agreement with Shaw Theatres as a new tenant, taking over the space previously occupied by Cathay Cineplex. It is currently in talks with Cathay Cineplex to recover the outstanding amount owed and will provide an update at an appropriate juncture. Additional new tenants brought onboard include lululemon, a Canadian athletic apparel brand; Chagee, a modern tea brand offering handcrafted beverages; and 2^nd Street, new-to-market Japanese thrift store chain specialising in pre-loved luxury and streetwear.

As part of the Manager’s active asset enhancement strategy, the team has commenced refurbishment works to upgrade restrooms facilities at Jem. The upgraded facilities, scheduled for phased completion by 1Q 2026, will elevate the overall amenities and shoppers’ comfort.  

Positive rental uplift achieved for office portfolio

As at 31 March 2025, office portfolio occupancy stood at 86.6%. By portfolio GRI, the tenants account for approximately 22% with a long WALE of 11.4 years by NLA and 14.1 years by GRI.

Rental review exercise for Jem office was completed in February with a positive uplift of approximately 13%³ over the prevailing base rent for five years effective from 3 December 2024. Jem office is fully leased to the Singapore’s Ministry of National Development (“MND”) until 2044.

As of 31 March 2025, Building 3 in Milan had an occupancy rate of approximately 31%. The team had recently completed asset enhancement works in the ground floor lobby, transforming the space into a refreshed and welcoming environment for tenants.

Capital Management

During the quarter, LREIT issued S$120 million perpetual securities at 4.75% per annum to refinance the S$200 million 5.25% perpetual securities due in April 2025, with the remaining S$80 million to be refinanced with loans. Net proceeds from the S$120 million issuance were utilised, ahead of the perpetual securities refinancing, to reduce debt borrowings and lower gearing to 38.0%⁶. Post 31 March 2025, new debt facilities have been drawn accordingly for the refinancing of the maturing loans and perpetual securities⁶ in April 2025.

As at 31 March 2025, gross borrowings were S$1,451.7 million with a weighted average debt maturity of 1.8 years⁷. Sustainability-linked financing continues to account for approximately 85% of LREIT’s total committed debt facilities. As at the date of the announcement, LREIT’s entire debt portfolio remains unsecured, with undrawn debt facilities of S$135.9 million available to support its working capital needs.

Approximately 76% of the borrowings are hedged to fixed rates with a lower weighted average cost of debt at 3.54% per annum⁸ on the back of lower interest rates. As at the period end, LREIT has an interest coverage ratio (“ICR”)⁹ of 1.5 times¹⁰ in accordance with the Property Funds Appendix of the Code on Collective Investment Schemes (“PFA”).

Mr. Guy Cawthra, Chief Executive Officer of the Manager, said, “The Singapore portfolio, comprising approximately 90% of the total portfolio by valuation, has maintained strong rental growth. In addition, we have concluded the rent review for Jem office and achieved a favourable outcome. Managing our capital position is a priority. We have refinanced S$200 million of 5.25% perpetual securities by way of a new issuance at a reduced coupon rate of 4.75% and new loans at more favourable funding costs. Looking ahead, despite uncertain capital markets, we shall pursue options for asset recycling, with the objective of reducing our gearing. We will also assess our strategy and formulate a strategic growth plan for communication to the investment community.”

About Lendlease Global Commercial REIT

Listed on 2 October 2019, Lendlease Global Commercial REIT (“LREIT”) is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally, which are used primarily for retail and/or office purposes.

Its portfolio comprises leasehold properties in Singapore namely Jem (an office and retail property) and 313@somerset (a prime retail property) as well as freehold interest in Sky Complex (three Grade A commercial buildings) in Milan. These five properties have a total net lettable area of approximately 2.1 million square feet, with an appraised value of S$3.68 billion as at 30 June 2024. Other investments include a stake in Parkway Parade (an office and retail property) and development of a multifunctional event space on a site adjacent to 313@somerset.

LREIT is managed by Lendlease Global Commercial Trust Management Pte. Ltd., an indirect wholly-owned subsidiary of Lendlease Corporation Limited.

About the Sponsor - Lendlease Corporation Limited

Lendlease Corporation Limited is a market-leading Australian integrated real estate group. Headquartered in Sydney, it is listed on the Australian Securities Exchange.

Its core capabilities are reflected in its operating segments of Investments, Development and Construction. The combination of these three segments provides them with a sustainable competitive advantage in delivering innovative integrated solutions for its customers. For more information, please visit: www.lendlease.com.

For more information on LREIT, please contact Investor Relations:

Lendlease Global Commercial Trust Management Pte. Ltd.
Ling Bee Lin
enquiry@lendleaseglobalcommercialreit.com
Tel: +65 6671 7374

Important Notice

This press release is for information purposes only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscribe for any securities of Lendlease Global Commercial REIT (“LREIT”) in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.

The value of units in LREIT (the “Units”) and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by Lendlease Global Commercial Trust Management Pte. Ltd. (the “Manager”), DBS Trustee Limited (as trustee of LREIT) or any of their affiliates.

This press release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, (including employee wages, benefits and training costs), property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business.

An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Holders of Units (“Unitholder”) have no right to request the Manager to redeem or purchase their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing of the Units on SGX-ST does not guarantee a liquid market for the Units.

This press release is not to be distributed or circulated outside of Singapore. Any failure to comply with this restriction may constitute a violation of United State securities laws or the laws of any other jurisdiction.

The past performance of LREIT is not necessarily indicative of its future performance.

^{____________________________
1} Year-to-date, comparing the weighted average rent of outgoing and incoming leases.
² Based on year-to-date completed lease renewal.
³ For details, please refer to the announcement “Lendlease Global Commercial Reit Completes Rent Review for Jem Office Lease” dated 28 February 2025.
⁴ Year-to-date compared against the corresponding period in FY2024.
⁵ Floor area and scheme are subject to final design and approval by the authorities.
⁶ On a proforma basis based on total assets at 31 March 2025, gearing is approximately 43% post S$200 million loan drawdown for the repayment of perpetual securities.
⁷ On a proforma basis, the refinancing of current borrowings amounting to S$450.5 million on their respective maturity dates extends the weighted average debt maturity to 3.1 years as at 31 March 2025.
⁸ Excludes amortisation of debt-related transaction costs.
⁹ The ICR in accordance with loan agreements exceeds 2.5 times, in excess of debt covenant at 2.0 times.
¹⁰ Per the PFA, calculation is based on a trailing 12 months period ending on the date of the latest reported financial results. For LREIT, the last reported financial results is as at 31 December 2024.


SOURCE : Lendlease Global Commercial Trust Management Pte Ltd.

Arla Foods Ingredients showcases protein soda concept at Vitafoods Europe

 

AARHUS, Denmark, May 7 (Bernama-GLOBE NEWSWIRE) -- Arla Foods Ingredients will highlight the functional benefits of pure BLG (beta-lactoglobulin) in a new protein soda concept at Vitafoods Europe. 

Consumers are increasingly seeking functional beverages that support active, balanced lifestyles. According to the Innova Category Survey 2024, nearly 20% reduce their consumption of traditional carbonated drinks in the past year¹.

Arla Foods Ingredients’ protein soda concept is a tailored response to the “better-for-you” soft drink trend, providing 10g of protein per serving with zero sugar. It features Lacprodan^® BLG-100 to deliver the nutritional power that consumers demand, while offering manufacturers the flexibility of hot and cold processing.

Compared to standard whey protein, Lacprodan^® BLG-100 contains more of the essential and branched chain amino acids necessary to support muscle maintenance and growth. Its protein content also supports satiety, appealing to the increasing number of consumers interested in weight management.

Sarah Meyer, Head of Sales Development, Performance Nutrition, at Arla Foods Ingredients, said, “Our exciting new protein soda concept meets the needs of consumers keen to switch out sugary beverages for thirst-quenching, healthier options. Lacprodan^® BLG-100’s outstanding purity ensures the refreshing, water-like viscosity, clarity and clean taste these consumers love. This enables brand owners to set a new quality standard for protein-enriched soft drinks, including those positioned around physical activity.”

Exhibiting at Stand 4D17 at Vitafoods Europe (20^th to 22^nd May in Barcelona), the leader in premium nutrition will also showcase three additional concepts:

• The Essentials Protein Bar, featuring Lacprodan^® SoftBar & Capolac^®. Rich in whey protein and calcium, with a high-fibre wholefood base and no added sugar, it remains indulgently soft throughout shelf life.
• The Refreshed in Seconds beverage – a ready-to-mix protein powder with quick foam breakdown. Made with Lacprodan^® ISO.RefreshShake whey protein isolate, this refreshing shake is ideal for post-workout recovery.
• Lacprodan MicelPure^® micellar casein isolate – the functional choice for health and medical foods. Providing high-quality, native milk protein, it has a mild, milky taste and low viscosity at high protein concentrations, with excellent heat stability and process flexibility.

Find out more about Arla Foods Ingredients’ Protein Soda concept by visiting:
https://arlafoodsingredients.com/sports-nutrition/explore-industry/concepts/protein-soda/

For more information contact:
Steve Harman, Ingredient Communications
Tel: +44 (0)7538 118079 | Email: steve@ingredientcommunications.com
_____________
¹ Innova Category Survey 2024

A photo accompanying this announcement is available at 
https://www.globenewswire.com/NewsRoom/AttachmentNg/160bbf4e-5af8-4e44-8de2-bc4413541eca 

SOURCE : Arla Foods Ingredients