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BAFS Reports Strong 2024 Performance with First Profit in Five Years at THB 102.9M, Approves THB 0.30 Yearly Dividend, Eyes Asian Market Expansion in 2025

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BANGKOK, THAILAND – Media OutReach Newswire – 24 February 2025 – BAFS has announced its 2024 financial results, reporting total revenue of THB 3.507 billion and a net profit of THB 102.9 million, marking a 175% increase from the previous year and the company’s first profitable year since the COVID-19 pandemic. This turnaround to profitability was driven by a high volume of aviation fuel refueling and pipeline oil transportation. BAFS plans to distribute a yearly dividend of THB 0.30 per share for 2024. Looking ahead to 2025, the company has allocated an investment budget exceeding THB 1 billion to strengthen its business and expand into Asian markets, targeting an 8% revenue growth.

M.L. Nathasit Diskul, President of BAFS demonstrated robust and consistent business growth in 2024

M.L. Nathasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), stated that BAFS and its subsidiaries (BAFS Group) demonstrated robust and consistent business growth in 2024, leading to the company’s first profitable year since the COVID-19 outbreak in 2019, with a net profit of THB 102.9 million—a 175% increase from the previous year. This growth was primarily attributed to a surge in aviation fuel refueling volume, which reached 5.047 billion liters, exceeding expectations, along with a significant increase in northern pipeline oil transportation to 1.226 billion liters. These factors drove total revenue to THB 3.507 billion, reflecting a 14% year-over-year increase, in line with the recovery of the tourism sector. EBITDA also grew by 21% year over year, reaching THB 1.594 billion.

In Q4 2024, BAFS Group recorded total revenue of THB 955.4 million, a 19% year-over-year increase, with EBITDA of THB 343.9 million, supported by higher gross profits resulting from increased aviation fuel sales. Operating expenses rose by 1% while net finance costs decreased by 9% due to scheduled debt repayments to financial institutions and lower interest rates on commercial bank loans. The company recognized a Q4 loss due to a fair value adjustment of its investment in a Japanese power plant and an impairment of goodwill from a domestic power plant. Additionally, it wrote off deferred tax assets (DTA) that were deemed unlikely to be utilized in the future. These accounting adjustments had no cash flow impact and resulted in a Q4 net loss attributable to shareholders of THB 49.8 million.

Following its strong performance in 2024, the Board of Directors approved a dividend payout of THB 0.30 per share for 2024. This includes an interim dividend of THB 0.10 per share, paid on September 3, 2024, and a final dividend of THB 0.20 per share, scheduled for payment on May 22, 2025. The final dividend is subject to approval at the company’s 2025 Annual General Meeting.

BAFS Group will continue its commitment to sustainable growth in 2025, targeting an 8% revenue increase. With over THB 1 billion allocated for strategic investments, the company will collaborate with partners to explore new business opportunities while enhancing Thailand’s energy transportation infrastructure. A key project is the extension of the northern oil pipeline connecting Ang Thong and Saraburi led by BAFS Pipeline Transportation Co., Ltd. Construction is set to begin in Q1 2025, with commercial operations expected to commence in 2026. Once completed, the total length of the pipeline system will exceed 726 kilometers, making it the longest and most advanced oil transportation pipeline in Thailand and the longest in Southeast Asia.

Amid the ongoing energy transition and its challenges, BAFS Group remains committed to sustainable value creation and energy security. The company’s five-year strategic plan (2025-2029) focuses on three key pillars. The first pillar, Solid Financials for Uplifting Asia, involves expanding investments across Asia, leveraging BAFS Group’s capabilities to seek investment and growth opportunities in the Asian market. Two key contributors are BAFS INTECH Co., Ltd., which is driving the expansion of the aviation refueling truck market in Southeast Asia, and BAFS Clean Energy Corporation Co., Ltd., which is currently advancing investments in Mongolia.

The second pillar, Sustainability and Governance for a Thriving Future, focuses on supporting the transition of society and the aviation industry to a sustainable energy era, primarily by preparing for the adoption of sustainable aviation fuel (SAF). Last year, BAFS began SAF refueling services at Samui and Suvarnabhumi International Airports and recently obtained ISCC-CORSIA certification in the logistic center scope for its aviation fuel storage and refueling stations at Don Mueang and Suvarnabhumi Airports.

The third pillar, Re-imagining the Future of Work for Human Empowerment, emphasizes building a future-ready workforce by enhancing employees’ skills in generative AI and digital literacy to ensure adaptability to changes. BAFS is also assessing and preparing its IT infrastructure to provide employees with secure and convenient access to generative AI tools to boost efficiency.

Hashtag: #BAFS #BAFSGroup



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

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From PolyU Research to Geneva Global Debut: GOOD Vision oka³y! ™ Redefines Precision in Freeform Orthokeratology

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GENEVA, SWITZERLAND – Media OutReach Newswire – 9 March 2026 – GOOD Vision Technologies Co., Limited, a pioneer in ophthalmic optics and diagnostics, today announced the global debut of oka³y!™, a first-of-its-kind “3A” Freeform Orthokeratology (Ortho-K) solution. Unveiled at the 51st International Exhibition of Inventions in Geneva, the technology solves the industry’s most persistent hurdles by leveraging proprietary AI and freeform optics: AI-guided fitting, Astigmatic precision, and Asymmetric cornea alignment.

Beyond Traditional Toric Lenses: The Future of Freeform Orthokeratology

With myopia expected to affect 50% of the world’s population by 2050, demand for effective management is high. While Ortho-K is a highly effective strategy, traditional symmetric and spherical/ toric designs often underestimate corneal shape complexity, causing lens decentration and poor visual outcomes.

The oka³y!™ freeform technology, incorporating the company’s proprietary FAST-360 and CORe Technology, surpasses traditional lens design. AI-based FAST-360 reconstructs missing corneal data for faster scans, while CORe ensures precise alignment with the visual axis, leading to 3.1 times greater stability.

Precision Myopia Correction and Control for High Astigmatism and Asymmetric Corneas

For optometrists and clinic owners, oka³y!™’s key benefit is improving workflow by automating complex mathematics, cutting chair time by 64%. This boosts myopia management capacity without extra staff or lengthy training. “As a registered optometrist in Hong Kong and a researcher in one of the world’s leading optometric institutes, I witnessed a growing gap between the number of patients seeking Ortho-K and the limited range of conventional products available to treat them,” says Dr. Kin Ho Chan, Ken, the lead inventor of oka³y!™. “By focusing on the ‘3A’: AI-guided, Astigmatism, and Asymmetry, and working alongside The Hong Kong Polytechnic University (Poly U), we have developed a design that not only delivers superior vision but also enhances safety by reducing corneal staining. We are turning a frustrating, manual trial-and-error process into a predictable one-click adjustment.”

From Niche Specialty to Global Enterprise: Scaling the Future of Eye Care

As myopia rates reach epidemic levels, GOOD Vision partners with PolyU, harnessing its research strengths and support from its startup ecosystem PolyVentures, to redefine primary eye care by transforming a niche specialty into a scalable global enterprise. By replacing manual OK lens design with oka³y!™, the company has created a technology bridging clinical complexity and scalability. This transition enables practitioners to manage myopia, high astigmatism, and asymmetrical cases precisely, removing barriers to modern refractive error management.

“By embedding and automating the complex mathematics of lens design, we provide clinicians with the tools to treat ‘difficult’ patients who were previously considered unsuitable for Ortho-K,” added Professor Chea-su Kee, Founder of GOOD Vision. “This is about elevating the global standard of care and ensuring that precision myopia management is accessible to the next generation on a global scale.”

Experience the Future of Myopia Control

GOOD Vision invites investors, distributors, and practitioners to a live demonstration of the oka³y!™ at the International Exhibition of Inventions Geneva:

  • Location: PolyU Delegation Booth, Hall 2, Palexpo, CP 112, Route François-Peyrot 30, 1218 Le Grand-Saconnex, Geneva, Switzerland
  • Dates: 11–15 March 2026

Hashtag: #GOODVision

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

About GOOD Vision Technologies Co., Limited

GOOD Vision, a Hong Kong-based startup nurtured by PolyU, is dedicated to advancing the field of corneal reshaping technologies. With a focus on innovation, efficiency, and affordability, the company develops innovative solutions to empower eye practitioners and enhance the quality of eye care worldwide.

For additional details about GOOD Vision and their innovative offerings, please visit

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Tech Innovator Acquires Nexxus Building Trivium to Oversee Asset Management

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Central Landmark Set for Revitalization with International Expertise

HONG KONG SAR – Media OutReach Newswire – 9 March 2026 – In a vote of confidence in Hong Kong’s vibrant and enduring business environment, Nexxus Building, a landmark Grade‑A commercial property in Central’s prestigious CBD, has been acquired by a leading figure in the technology sector. Trivium Asset Management (“Trivium”), an Asian real estate investment and asset management firm, has been appointed as Nexxus Building’s Asset Manager (“AMC” or Asset Management Company), taking charge of the asset’s comprehensive management and operations.

Under new ownership, Nexxus Building is set to undergo a forward‑looking transformation integrating next‑generation technologies with world‑class professional management. The revitalization aims to redefine the building’s market positioning, enhance its tenant experience, and reinforce its status as an iconic and premier Grade‑A property in the heart of Hong Kong’s CBD.

Leveraging Trivium’s extensive expertise, the enhancement programme will incorporate smart‑building management systems and sustainability‑driven upgrades designed to meet the evolving needs of global tenants. The reimagined Nexxus Building aims to attract financial institutions, fintech platforms, and technology enterprises, reaffirming Central’s position as Asia’s dynamic financial and innovation hub.

Mr. Wilfred Ma, Managing Partner of Trivium Asset Management, said, “Trivium is honored to be entrusted with the role of Asset Manager (“AMC” or Asset Management Company) for Nexxus Building, one of Hong Kong’s most iconic commercial landmarks. Drawing on our track record in real estate investment and operations across Hong Kong and Japan, we are committed to implementing forward‑thinking strategies that enhance tenant value, optimize building performance, and unlock Nexxus Building’s full potential as a commercial anchor in the city’s core.”

Originally built in 1962 as the former headquarters of Hang Seng Bank, Nexxus Building has been a witness to Hong Kong’s rise as a global financial centre. Following a major renovation in 2008 and the addition of a direct footbridge to IFC and the Airport Express in 2020, the building continues to host multinational corporations, leading financial institutions and professional services firms, and premium retail tenants – including the iconic Hong Kong Bankers Club – reinforcing its status as one of Central’s most distinguished Grade‑A office towers.

Hashtag: #TriviumAssetManagement

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

About Trivium Asset Management

Founded in 2022, Trivium Asset Management is a Hong Kong‑based real estate investment and asset management firm overseeing assets valued at over US$900 million across Asia. Trivium serves institutional investors, financial institutions, and family offices through integrated investment and asset management, value‑creation strategies, and technology integration. The firm’s mission is to maximize long‑term value and promote sustainable growth for clients and communities alike.

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HOFA Announces the Second Edition of the Digital Art Awards, in Collaboration with Exhibition Partner PhillipsX in Hong Kong, proudly backed by Lightyear

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HONG KONG SAR – Media OutReach Newswire – 9 March 2026 – Celebrating a new generation of digital artists working across generative systems, AI, immersive media and experimental formats, with winners selected by a panel of leading experts and exhibited at Phillips’ Asia headquarters in the West Kowloon Cultural District during Hong Kong Art Basel Week 2026.

Refik Anadol, ‘Sense of Healing’, 2023, AI Data Sculpture (Courtesy of the Artist)

The awards ceremony will take place on 24 March 2026, featuring the four key categories of Still Image, Moving Image, Innovation and Experiential and followed by a private sale exhibition hosted by Phillips in Hong Kong, from 25–28 March 2026.

As a highlight of Hong Kong’s spring art calendar, the awards celebrate the growing cultural significance of digital art and spotlights the visionary artists redefining visual culture through cutting-edge technologies.

Thirty two international finalists will be selected for their work pushing the boundaries of digital creativity. Each of the four category winners will receive a $10,000 USDC commission towards a new artwork.

The thirty two finalists include several prominent figures in digital and generative art, such as Erick Calderon (Snowfro) Founder of Art Blocks, Botto, Sarah Meyohas, William Mapan, Sasha Stiles and Mario Klingemann – underscoring the calibre of talent the awards are already attracting with over two hundred applications across more than fifty countries.

Refik Anadol is nominated for the Honorary Career Award for Sense of Healing, an AI Data Sculpture that emerges from Refik Anadol Studio’s long-term research into creating meditative art based on neurological data.

Finalists and winners will be selected by a panel of leading experts in art, hospitality and technology, including Irini Mirena Papadimitriou, Exhibitions Director at Diriyah Art Futures, Thomas Heyne, Co-Founder and CEO at Scorpios, Dorothy di Stefano, Art Curator and Creative Strategist at Molten Immersive Art, Danielle So, Hong Kong Head of Auction, Modern & Contemporary Art, Phillips, Sebastien Borget, Co-Founder & Global of The Sandbox, SANDchain, President of Blockchain Game Alliance and Co-Founder of Artverse, Jean-Michel Pailhon, Co-Founder and Chief Investment Officer at Grailcapital, Simonida Pavicevic, Co-Founder and Curator at HOFA, Justin Gilanyi, Founder of WhereArt.Works and Curator at SILK, and Matt Zhang, Founder and Managing Partner at Hivemind Capital.

The Digital Art Awards are proudly backed by Lightyear, a subsidiary of Hivemind Digital Group. A full-stack digital culture partner, Lightyear provides infrastructure, liquidity and market expertise, and hands-on delivery for digital ownership and engagement across physical and digital experiences. Lightyear is committed to championing artists and organizations pushing the boundaries of digital culture.

Hashtag: #HOFA #PhillipsX

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

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