Media OutReach

GP Industries completes strategic HK$504 million Equivalent Sustainability Linked Term Loan Facility

Published

3 months ago

16/09/2025

Sustainability targets encompass eco-friendly manufacturing practices and robust corporate sustainability transformation

SINGAPORE – Media OutReach Newswire – 16 September 2025 – GP Industries Limited (“GP Industries”, SGX: G20), the 86.18%-owned subsidiary of the Hong Kong-listed Gold Peak Technology Group Limited (“Gold Peak”, SEHK: 40), today completed a 3-year syndicated sustainability-linked loan facility (the “SLL Facility”) of HK$504 million with 5 major banks, with The Bank of East Asia, Limited (“BEA”) as the mandated lead arranger and bookrunner. Other mandated lead arrangers are CNCB (Hong Kong) Investment Limited, AFFIN Bank Berhad and East West Bank, Hong Kong Branch. Lead arranger is Bank of China Limited, Singapore Branch.

Despite the challenging global environment, this SLL Facility of HK$504 million reflects strong confidence and support from the banking sector in GP Industries’ commitment and achievements in Environmental, Social and Governance (“ESG”) principles.

Victor Lo, Chairman of Gold Peak and GP Industries, said, “Gold Peak is deeply committed to long-term sustainable development and has a proven track record in this area. The establishment of this SLL Facility not only affirms our strategic direction but also enhances our ability to pursue innovative financing solutions and operational best practices that underpin sustainable business growth.”

“Our dedication to enhancing our environmental and social performance remains unwavering. We will actively work to mitigate climate risks and prioritize investments in medium- to long-term ESG initiatives that are designed to generate enduring value for our key stakeholders and shareholders. By integrating ESG principles as a fundamental driver of our corporate strategy, we are confident in our ability to make significant strides towards achieving net-zero emissions. These efforts will yield substantial benefits not only for our diverse stakeholder group but also for our communities and the planet as a whole,” added Victor Lo.

Michael Lam, Vice-Chairman and Executive Vice President of GP Industries, commented, “As a leading company in the batteries, audio, and electronics industries, GP Industries is committed to embedding sustainability principles across its operations. We have made significant progress in advancing our sustainability agenda, reflecting our commitment to responsible corporate citizenship and long-term value creation. Since 2017, we have regularly reported our ESG performance to stakeholders as part of our disciplined approach to transparency and long-term value creation. We actively advocate for the adoption of rechargeable batteries to minimize waste, and our GP Recyko rechargeable products have received positive market reception. We have also accelerated the packaging sustainability efforts by transitioning over 1,000 GP-branded consumer battery products to paper-based packaging across Europe. This initiative has led to an annual reduction of 48 tons of plastic and 30 tons of material waste per year, marking a significant milestone in the company’s long-term commitment to environmental stewardship.”

“For our acoustics portfolio, KEF GP Group (“KGG Group”), which comprises KEF, Celestion and GP Electronics, will continue to invest in green manufacturing facility. The SLL Facility underscores our commitment to environmental preservation while delivering exceptional sound quality to our customers.”

The last financial year represents a pivotal milestone for GP Industries as the company formally announced its science-based targets for reducing greenhouse gas (GHG) emissions, which encompass Scopes 1 and 2 operational emissions. Building on its ongoing de-carbonization roadmap, GP Industries has established interim and long-term reduction targets as follows:

a 20% reduction by 2030 compared to the FY2024 baseline;
a 60% reduction by 2040; and
the achievement of net-zero operational emissions (i.e., 100% reduction) by 2050.

GP Industries is dedicated to advancing sustainable manufacturing practices. Among many sustainability awards, four of its battery manufacturing facilities have achieved Zero Waste to Landfill Platinum or Gold validation from UL Solutions, demonstrating its commitment to diverting 95-100% of waste from landfills through effective waste reduction and diversion strategies. Additionally, GP Batteries, the battery business of the company, has gained EcoVadis badge with assessment results exceeded industry standards, reflecting its strong performance in environmental stewardship, labor practices, human rights, ethics, and sustainable procurement. GP Industries aspires to lead the industry in sustainability initiatives and to continually enhance its contributions to a greener future.

Kelvin Au, General Manager and Head of Wholesale Banking Division at The Bank of East Asia, Limited, said, “GP Industries Limited is an internationally renowned manufacturing company with deep roots in the battery and audio businesses. It has built a formidable legacy spanning over six decades. GP Industries Limited now stands as a global leader in consumer batteries under its “GP” and “Pairdeer” brands, and as a trailblazer in high-end audio equipment under the premium brand “KEF”. BEA appreciates the company’s dynamism and pioneering spirit in driving transformation. As the sole mandated lead arranger and bookrunner for this sustainability-linked syndicated loan and GP Industries Limited’s main banking partner, BEA will leverage our global network and comprehensive financial expertise to deliver end-to-end solutions tailored to GP’s evolving business needs.”

The 3-year SLL Facility has a tiered incentive mechanism where GP Industries is entitled to an interest reduction when the SLL Facility sustainability targets are achieved. This SLL Facility was signed by GPI International Limited and GP Batteries International Limited, with the parent company, GP Industries, providing a corporate guarantee. GP Industries plans to deploy the proceeds from the SLL Facility to strengthen its financial position, support ongoing long-term investments in advanced manufacturing technologies, enhance operational efficiencies, and reinforce its commitment to sustainable business practices.

Photo captions:
https://drive.google.com/drive/folders/1vuYH-bQ-vG9JQxhe-gzr6IhT7fzNe02l?usp=sharing

(Center left) Michael Lam, Vice-Chairman and Executive Vice-President of GP Industries, signed the SLL Facility of HK$504 million with 5 major banks.
(Back row, 6 from left) Victor Lo, Chairman of both GP Industries and Gold Peak, expressed gratitude to the banks for their staunch support on the SLL Facility.

Hashtag: #GPIndustries

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

About GP Industries

GP Industries Group is an international manufacturing and marketing group with operations in Battery Solutions, Acoustics & Electronics, as well as Industrial Investments. GP Industries has been listed on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX: G20) since 1995. It is the primary industrial vehicle of the Hong Kong-listed Gold Peak Technology Group Limited.

Underpinned by GP Industries’ proprietary manufacturing facilities for equipment and design manufacturing of batteries and acoustics products, it has invested in and developed globally renowned consumer brand names for its major product categories, such as “GP”, “Pairdeer”, “KEF” and “Celestion.

GP Industries’ mission is to integrate economic growth, environmental protection and social responsibility in its business strategies to design, manufacture and supply innovative and high-quality products for the well-being of people and benefit of society, aiming to drive sustainable value for its stakeholders and the communities.

Based in Singapore and Hong Kong, GP Industries operates advanced manufacturing facilities in China, Malaysia, Thailand and Vietnam, and has established an extensive manufacturing and distribution network spanning over 10 countries across Asia, Europe and the Americas.

www.gp.industries

Media OutReach

Payment Options Singapore Secures In-Principle Approval from MAS for Major Payment Institution Licence

Published

15 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – Payment Options Pte Ltd, a Singapore-based payment solutions provider, is pleased to announce that it has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence under the Payment Services Act 2019.

Payment Options Pte Ltd office in Singapore

This milestone underscores Payment Options’ commitment to supporting Singapore’s small and medium-sized enterprises (SMEs) with simple, secure, and accessible digital payment solutions.

If granted the licence, Payment Options Pte Ltd will be authorised to provide three regulated payment services: Merchant Acquisition, Domestic Money Transfer, and Cross-Border Money Transfer. Through these services, the company aims to empower SMEs with a full suite of payment capabilities — from online payment gateways and QR code payments to the upcoming SoftPOS payments technology — enabling merchants to accept digital payments easily and securely.

“We remain deeply committed to supporting Singapore’s SMEs as they grow and compete in an increasingly digital-first economy. Our vision is to position digital payments as a growth enabler — not a challenge — for small businesses”, said Aaron Yip, Director of Payment Options Pte Ltd. “Our goal is to make digital transactions seamless, secure, and accessible for every business, regardless of size.”

Building on this vision, if the licence is granted, Payment Options will continue to work closely with local merchants, financial institutions, and technology partners to enhance payment accessibility and drive innovation across Singapore’s SME ecosystem.

“We reaffirm our commitment to regulatory compliance and innovation, as we contribute to Singapore’s ongoing journey toward a secure, inclusive, and cash-lite economy.”

The IPA granted by the MAS indicates that a licence may be issued upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. The IPA does not constitute a licence to provide payment services at this stage, and MAS reserves the right to rescind the approval if it deems appropriate.
Hashtag: #PaymentOptions

https://www.paymentoptions.com/
https://www.linkedin.com/company/payment-options/
https://www.facebook.com/PaymentOptions.int/
https://www.instagram.com/payment.options/

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

About Payment Options Pte Ltd

Payment Options Pte Ltd is a Singapore-based financial technology company providing innovative and secure payment solutions designed to help SMEs and merchants simplify digital transactions. With a focus on compliance, technology, and customer experience, the company aims to make digital payments accessible for every business.

Media OutReach

Financial Assistance at SIM: Breaking Barriers to Education

Published

16 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – For many aspiring learners, financial constraints remain one of the biggest obstacles to achieving their goals. SIM is determined to change that. Guided by the principle that no student should be left behind because of cost, SIM has built a comprehensive ecosystem of financial aid, scholarships, and bursaries to make quality education attainable for all.

At the heart of this mission is the SIM Impact Fund, a S$60 million initiative dedicated to empowering students from diverse backgrounds and ensuring that financial hardship never stands in the way of academic or personal growth. By blending need-based assistance with merit-driven opportunities, SIM is creating an inclusive learning environment where talent and ambition define success.

Empowering Learners Through the SIM Impact Fund

In 2024, SIM introduced the SIM Impact Fund, a S$60 million initiative dedicated to supporting students from lower-income households and ensuring that financial constraints do not hinder educational aspirations. Administered through SIM Trust, the fund is designed to empower learners within and beyond SIM’s community by removing barriers to access. Beginning in 2025, Singapore Citizens and Permanent Residents with a per-capita income of S$1,750 or below can benefit from tiered assistance, ranging from S$6,000 up to S$13,500 for those with PCI of S$600 or less, S$4,500 to S$6,750 for PCI between S$601 and S$1,000, and S$2,000 for PCI between S$1,001 and S$1,750. Beyond tuition aid, the fund also provides support for overseas internships and merit-based scholarships, benefiting approximately 500 students annually.

Beyond Tuition: Comprehensive Financial Aid

SIM’s commitment to learning accessibility goes far beyond tuition subsidies. Through its Financial Assistance schemes, students can tap into a range of support options tailored to different needs. These include Enhanced Bursaries Aid, which provide up to S$13,500 per year for Singapore Citizens, and a SIM GE Crisis Fund offering emergency relief of up to S$5,000 for unforeseen circumstances. In addition, SIM encourages global exposure through Study Abroad Awards, enabling students to broaden their horizons without financial strain. Together, these initiatives reflect SIM’s ethos of inclusivity and resilience, ensuring that financial challenges never derail academic aspirations.

Community-Focused Support

The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) exemplifies SIM’s deep-rooted commitment to community empowerment and social impact. Launched in July 2024 in partnership with the late Dr Eu’s family,

RESSEC received a combined S$8 million donation, S$6 million from the Eu family and S$2 million from SIM, marking a significant investment in nurturing social entrepreneurship. Guided by Dr Eu’s vision of transforming social service through ethical leadership and innovation, the Centre equips learners and social service professionals via initiatives such as a specialised postgraduate Diploma in Social Entrepreneurship, mentorship, and collaborative dialogues.

RESSEC also provides 12 bursaries of S$10,000 each for SIM Global Education students (check that this is accurate and that it’s not also extended to those outside the SIM ecosystem) who demonstrate strong community service and leadership and those with per-capita income up to S$1,750, prioritising those with per-capita income less than S$1,000. Through this initiative, SIM embeds purpose-driven learning into its mission, empowering students to create sustainable, positive impact in Singapore and beyond

Scholarship for Excellence

SIM offers a diverse range of scholarships under SIM Global Education to recognize excellence and resilience among its students. These include the SIM STARRR Award, which provides up to S$36,000 to outstanding achievers who demonstrate academic distinction and leadership qualities, and the Sports & Arts Talent Award, also valued at S$15,000 for students who excel in athletic or artistic pursuits. Additionally, the Chairman’s Award for Resilience grants S$3,000 to students who successfully balance work and study commitments, showcasing perseverance in the face of challenges. Together, these scholarships complement SIM’s need-based financial aid, creating a holistic support system that rewards merit while ensuring inclusivity.

Conclusion: Building a Future Without Barriers

SIM’s financial assistance framework is more than a set of policies, it is a promise to the community. By investing in initiatives like the SIM Impact Fund and expanding bursaries and scholarships, SIM is actively dismantling the barriers that prevent talented individuals from reaching their potential. This approach does not just benefit students, it strengthens society by cultivating a diverse pool of graduates equipped to lead, innovate, and give back. In a world where education often comes with a hefty price tag, SIM stands out as a beacon of accessibility and empowerment. For students and families seeking assurance that quality education is within reach, SIM offers not just hope but a clear, actionable path forward.

References:

Bursaries & Financial Aid (Enhanced) – https://www.sim.edu.sg/degrees-diplomas/admissions/bursaries-and-financial-aids
Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/ressec
The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) Opens to Advance Singapore’s Social Sector – https://www.sim.edu.sg/news-events/the-dr-richard-k-m-eu-sim-social-entrepreneurship-centre-%28ressec%29-opens
SIM Scholarship – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships
SIM’s STARRR Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-starrr-award-for-new-undergraduate-students
SIM Award and Sports & Artistic Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-scholarship
SIM Global Education Diploma Scholarships – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-diploma-scholarships
Chairman’s Award for Resilience – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/chairman-s-award-for-resilience

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

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

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

Beyond Academic Excellence: SIM Scholarships Champion Leadership, Resilience, and Talent

Published

1 day ago

07/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 7 December 2025 – The Singapore Institute of Management (SIM) is proud to reaffirm its commitment to developing future-ready graduates through a comprehensive scholarship framework that goes beyond academic achievement. These scholarships are designed to recognize and nurture qualities such as leadership, resilience, and talent. These attributes are essential for success in today’s dynamic global environment.

For decades, scholarships have been synonymous with academic excellence. SIM is redefining this narrative by adopting a holistic approach that values character, contribution, and courage alongside academic performance. This initiative reflects SIM’s mission to prepare graduates who are adaptable, innovative, and socially responsible.

Scholarships That Go Beyond Academics

SIM’s scholarship ecosystem reflects its belief that success is multidimensional. Rather than focusing solely on grades, these awards celebrate qualities such as resilience, leadership, and talent. The SIM STARRR Award, for instance, supports freshmen who embody Resilience, Resourcefulness, and Responsibility, offering up to S$36,000 in tuition fees, along with living and exchange allowances, without any bond requirement.

For students who shine in sports or the arts, the SIM Award & Sports/Artistic Talent Award provides S$15,000, disbursed in two tranches, to help them balance academic and extracurricular excellence.

International students pursuing diploma programmes can benefit from the Diploma Scholarships, which cover up to 100% of course fees for academic excellence or 50% for merit-based achievements.

For working adults who have overcome significant challenges, the SIM Chairman’s Award for Resilience offers S$3,000, recognizing perseverance and determination in the face of adversity.

Stories That Inspire

SIM’s scholarships are more than financial aid. They are catalysts for transformation, opening doors for students to turn challenges into triumphs. Take Ernita Tanudjaja, an international student who refused to let pandemic disruptions derail her ambitions. Instead, she leveraged technology to livestream events and boost engagement, showcasing resilience and resourcefulness.

Similarly, Chow Kah Ying, an ICU nurse, managed the intense demands of frontline healthcare during COVID-19 while completing her degree, showcasing perseverance and purpose. Likewise, Michelle Seah transformed O-level failure into triumph, excelling in javelin and academics to earn the SIM Sports & Artistic Talent Award, proof that determination and discipline can rewrite any story.

These journeys reflect SIM’s unwavering belief that leadership and resilience matter as much as grades, and that true achievement lies in character and contribution as much as in academic performance.

The Broader Vision

SIM’s scholarships represent more than financial assistance. They serve as a strategic platform for transformation and growth. Recipients benefit from networking opportunities that connect them with alumni and industry leaders, fostering mentorship and career development. Many scholarships also provide international exposure through exchange programmes that broaden perspectives and enhance global competencies.

In addition to academic achievement, students cultivate essential life skills such as leadership, resilience and adaptability through experiential learning and community engagement. These qualities equip graduates to excel in uncertain environments and contribute meaningfully to society.

This commitment reflects SIM’s core belief that education is not limited to examinations. It is about shaping leaders who create impact and drive positive change in a rapidly evolving world.

References: