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Delphos Advises on a Landmark $150M Deal for Mongolian Mortgage Corporation – Bolstering Housing Access
This transformative deal will see the DFC acquire $150 million of mortgage-backed securities, managed by MIK, enabling local commercial banks to create new and affordable mortgages. The ultimate goal is to increase homeownership opportunities for thousands of low—and middle-income families in Mongolia. The approval represents the largest Mongolian financing in the history of the DFC, and its predecessor agency OPIC.
Additionally, the transaction marks a significant leap forward in MIK’s promotion of housing affordability and improving living standards for Mongolians, many of whom reside in informal housing settlements. The financing aligns with broader efforts to address Mongolia’s urban challenges. Ulaanbaatar, the country’s capital, is home to close to 50% of Mongolia’s rapidly growing population, 60% of which still reside in informal settlements lacking basic infrastructure and access to social services.
Mongolia’s urban transformation is the perfect time to invest in housing development. Delphos is committed to creating a meaningful impact at this crucial juncture, aligning with UN Sustainable Development Goal 11, which aims to make cities and human settlements inclusive, safe, resilient, and sustainable. Affordable mortgages will help transition many families into formal housing, accelerating urban development and fostering economic stability.
Delphos served as the exclusive advisor on this transaction. Delphos will continue to support MIK through to the transaction’s financial close.
Delphos’ Chairman and CEO, Bart Turtelboom, noted that
“MIK is a systemically important financial institution within Mongolia. We are proud to support our client and appreciate their trust. We are excited to support Mongolia’s robust financial services industry and urban development, helping to create a meaningful impact through this deal.
Gantulga Badamkhatan, CEO of MIK added:
“We are excited to partner with US DFC on this transformative financing. This landmark transaction with its innovative structure will pave the way to catalyzing private sector capital into Mongolian mortgage market. We appreciate Delphos’ market-leading advisory work in structuring and arranging the transaction on our behalf. This financing will be pivotal for our continued growth and impact, and we look forward to reaching financial close soon.”
The partnership reaffirms DFC’s commitment to fostering inclusive economic development and highlights Mongolia’s potential as an emerging market for impactful investments. For Delphos, the transaction reinforces its position as a trusted advisor in mobilizing capital for frontier markets.
This deal underscores Delphos’ expertise in private emerging markets, especially for financial institutions. This is also Delphos’ latest successful transaction in Mongolia. Since 2022, Delphos has advised Bogd Bank on nearly USD 40M in multiple international financings.
NOTES To Editors:
Delphos has served as the exclusive financial advisor on the deal, leading all aspects, from initial market distribution to financial structuring and negotiations.
This is Delphos’ second financial services deal in Mongolia. Since 2022,, Delphos has arranged nearly USD 40M in international financings for Bogd Bank. Delphos will continue to support the Mongolian Mortgage Corporation until its financial close this quarter.
- Capital raising: USD 150 Million
- Sectors: Mortgages, Affordable Housing
- Impact:
- More affordable mortgages for housing
- Ulaanbaatar’s population goes from informal housing to formal housing
- Higher living standards
Hashtag: #Delphos
The issuer is solely responsible for the content of this announcement.
About Mongolian Mortgage Corporation (MIK)
MIK is dedicated to enhancing access to affordable housing in Mongolia through innovative financial solutions that promote homeownership and economic development.
About DFC
U.S. International Development Finance Corporation (DFC) is a modern, consolidated agency that combines the capabilities of OPIC and USAID’s Development Credit Authority while introducing new and innovative financial products to better attract private capital to the developing world. The U.S. will have more flexibility to support investments in developing countries to drive economic growth, create stability, and improve livelihoods.
About Delphos
Delphos is the financial advisor in frontier markets for NBFI and development companies and projects. They specialize in raising long-term, competitively priced capital for corporates, fund managers, developers, SMEs, sovereigns, and entrepreneurs worldwide. Since 1987, Delphos has been responsible for more than $20 billion in development finance to support the efforts of over 1,200 companies. Delphos provides market-leading transaction advisory and investment/risk management consulting services to government and private sector clients across multiple industries. Today, they advise AfDB, DFC, IDB Invest, IFC, USAID, US Ex-Im Bank, USTDA, WBG, leading private equity firms, infrastructure developers and strategic investors, and foreign governments and utilities. Delphos is a global financial advisory firm specializing in frontier and emerging markets. It has a 38-year track record of delivering impactful capital-raising solutions for non-bank financial institutions.
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SkinLab The Medical Spa Recognised at the 2026 Singapore Retailers Association Awards (SRA) for Excellence in Beauty and Cosmetics
For SkinLab, this reflects two decades of building a holistic beauty ecosystem spanning medical aesthetics, skin health, and wellness, under Dr Kelvin Chua, Senior Medical Director and Founder of SL Aesthetic Group. Treatments are personally developed by Dr Chua to address different skin concerns, such as acne, pigmentation, sensitivity, rosacea, dryness, and ageing. The medical spa also offers a range of skincare products formulated for Singapore’s humid climate and to support long-term skin health.
With 10 outlets islandwide, SkinLab has cared for more than 100,000 customers through this model of doctor-designed care. As no two skin conditions present the same way, each treatment can be customised to individual needs and preferences.
SkinLab has also been recognised by Harper’s BAZAAR, HerWorld, and Singapore Women’s Weekly for treatments targeting deep hydration, rejuvenation, and complexion correction. Behind these treatment outcomes are medical-grade technologies, including the LDM Triple, a triple-frequency ultrasound that targets multiple skin depths simultaneously; FDA-approved Lumenis M22 IPL system for photorejuvenation and pigmentation; Onda Pro with Coolwaves™ technology for body contouring; and the globally-recognised HydraFacial.
The medical spa continuously invests in technology that improves the customer experience, including using AI-assisted skin analysis to support consultations alongside chatbot-based scheduling to reduce waiting time and streamline appointment bookings.
SkinLab’s commitment to holistic care extends beyond treatment sessions, promoting skin health literacy educational content and workshops with doctors from sister brand SL Aesthetic Clinic.
“This award is a valuable milestone that reflects how far SkinLab The Medical Spa has grown as a brand,” says Dr Chua. “From the very start, our brand was designed with the customer at the centre, and that principle continues to guide every treatment developed and every experience delivered moving forward. The brand remains committed to advancing medical-led facial treatments that address a wide range of skin concerns more effectively.”
Looking ahead, SkinLab The Medical Spa remains committed to advancing its medical-led approach to skin health, continuing to explore and adopt clinically validated technologies to deliver more individualised care while reinforcing its commitment to clinical excellence across all its outlets.
To learn more, visit: www.skinlabmedspa.com
Hashtag: #SkinLabTheMedicalSpa #SLAestheticGroup #SingaporeRetailersAssociation
The issuer is solely responsible for the content of this announcement.
About SkinLab The Medical Spa
SkinLab The Medical Spa brings together the attentive, understated service of a world-class spa with medically grounded aesthetic science. As the dedicated medical spa brand of SL Aesthetic Group, SkinLab focuses on non-invasive facial treatments for acne, pigmentation, sensitive skin, and overall skin rejuvenation, delivering evidence-based care that supports long-term skin health.
Founded in the 2000s, SL Aesthetic Group is a healthcare and aesthetics group specialising in skin and hair health, women’s wellness, and holistic medicine. Its portfolio includes SL Aesthetic Clinic, a doctor-led medical aesthetics practice; SkinLab The Medical Spa; TrichoLab, a specialist hair and scalp centre; PROLOGUE, a women’s wellness and lifestyle medical clinic; and Euphie Skin Solutions in Malaysia. Across its network of clinics and outlets, the Group offers a comprehensive range of FDA-approved aesthetic and medical treatments, all supervised by trained and certified healthcare professionals holding Certificates of Competency (COC) recognised by the Aesthetic Practice Oversight Committee (APOC).
SkinLab The Medical Spa operates 10 locations across Singapore, including its flagship medical spa at Wheelock Place, while SL Aesthetic Group has a network of more than 20 clinics and outlets across Singapore and Malaysia.
The launch ceremony was attended by Mr. Do Quang Thai, First Secretary of the Embassy of the Socialist Republic of Vietnam in the Kingdom of Denmark, together with representatives from leading Danish organizations, including 3F, Dansk Erhverv, DPT and Carnegie Investment Bank, alongside strategic partners and industry stakeholders from the transport, technology, energy, finance and infrastructure sectors.
As one of the world’s leading cities in sustainable urban mobility, Copenhagen was chosen as Green SM’s first European market. Here, the company aims to complement the city’s existing transport network by offering another reliable, fully electric mobility option for residents and visitors alike.
In Denmark, the company operates a fully electric fleet of VinFast VF 6 and VF 8 vehicles, serving a wide range of everyday urban travel needs. Unlike many ride-hailing platforms that primarily connect passengers with independent drivers, Green SM directly owns and manages its fleet and oversees driver operations to help ensure consistent service quality and customer experience. During the initial phase of operations, Green SM will focus on establishing a reliable local operation, ensuring full compliance with Danish regulations, and continuously improving its service based on feedback from customers, drivers, and other stakeholders.
Delivering a safe, professional, and consistent customer experience begins with Green SM’s drivers. Before serving customers, every driver completes comprehensive training in road safety, customer service, operating procedures, and electric vehicle operation. Together with ongoing training and a robust local operations system, this helps ensure every journey reflects the high standards Green SM is committed to delivering.
Customers can book rides through the Green SM app, available on the App Store and Google Play. Fares are displayed before each trip is confirmed, and electronic receipts are issued automatically at the end of every journey. To mark its launch in Copenhagen, Green SM is offering new customers five (5) vouchers worth 25% off each trip, up to a maximum discount of 100 DKK per ride throughout the Grand Launch period from July 30 to September 30, 2026.
Richard Nabil Chahine, CEO of Green SM Europe, said: “Cities shape the future of mobility long before companies do. Copenhagen is one of those cities. That is why beginning our European journey here carries special meaning for Green SM. We come with deep respect for the standards already established here, drawing on what we have learned from serving millions of journeys across Asia. Our ambition is simple: to become a trusted mobility partner by delivering safe, professional and fully electric journeys that people can rely on every day. If we earn that trust, growth will naturally follow.”
Green SM’s expansion into Europe reflects the company’s long-term approach to international growth. Rather than prioritising rapid expansion, Green SM focuses on building well-structured local operations, adapting its services to local market needs, and earning trust through consistently reliable service.
With its fully electric fleet and low-emission operating model, Green SM hopes to contribute to Denmark’s long-standing ambitions for more sustainable mobility while providing another practical transport choice for everyday journeys.
Founded in Vietnam in 2023, Green SM currently operates in Vietnam, Laos, Indonesia, the Philippines, India and Kazakhstan. Through its fully electric fleet, technology platform and consistent operating standards, the company is steadily expanding internationally while adapting its services to local market needs.
Hashtag: #GreenSM
The issuer is solely responsible for the content of this announcement.
The collaboration marks a significant moment for Taiwan’s international media presence, as the completion of Gaudí’s vision draws global attention to one of the world’s most visited cultural landmarks. NHK has documented the construction of the Sagrada Família for decades, building a relationship of trust with the basilica’s team that enabled joint coverage.
TVBS crews filmed in areas rarely accessible to media, including the crypt where Gaudí is buried, architectural workshops, and key structural sections of the basilica. The team conducted interviews with architects and experts involved in the project during preparations for the inauguration ceremony. Construction on the church began in 1882, one year before Gaudí took over as chief architect.
Taiwanese actress Lin Chi-ling joined the reporting team in Barcelona as a cultural ambassador for the project. Lin met with architects and experts to explore the basilica through the perspectives of architecture, aesthetics, and cultural heritage. Her involvement added a cultural dimension to the coverage beyond conventional architectural reporting.
The coverage brought together partners from Taiwan’s technology and financial sectors. HTC, through its VIVE Arts initiative, contributed its immersive experience “Gaudí, the Atelier of the Divine.” The virtual reality program allows audiences to explore Gaudí’s architectural world in new ways, transcending geographical and physical boundaries.
TS Financial Holding Co., Ltd., which has long supported arts and cultural exchange, sponsored the live broadcast. The company cited values of integrity, innovation, and sustainability in joining the project. The cross-sector collaboration extended Taiwan’s cultural advocacy onto the international stage, connecting the 144-year architectural endeavor to audiences in Taiwan and Chinese-speaking communities worldwide.
TVBS integrated AI-powered real-time translation technology throughout the live coverage, facilitating multilingual communication across international production teams. The project showcased Taiwan’s ability to connect industries and communities across borders. TVBS, NHK, HTC, and TS Financial Holding Co., Ltd., together documented a defining milestone in the Sagrada Família’s history.
Hashtag: #TVBS
The issuer is solely responsible for the content of this announcement.
