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

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8 months ago

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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

  1. (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.
  2. (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.

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Hong Kong Company Formations Surge 40.5% in 2025, Outpacing Regional Competitors

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8 hours ago

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15/05/2026

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Air Corporate data reveals 9 in 10 founders incorporated in Hong Kong do so remotely, driven by a 20% surge in Middle Eastern entrepreneurs seeking cost-effective operational alternatives to Dubai.

HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – Air Corporate registered a 40.5% increase in Hong Kong incorporations in 2025, with the first quarter of 2026 already up 48% year-over-year. This data indicates that Hong Kong is reasserting itself as the leading Asian jurisdiction for company formation, fueled by a new wave of remote founders from the Middle East, North Africa, and Europe.

The prevailing narrative over the past five years suggested that Singapore was eclipsing Hong Kong; however, recent incorporation volumes challenge this. According to city-wide official figures cited by Vivian, Founder of Air Corporate, approximately 195,000 companies were registered in Hong Kong in 2025, compared to around 77,000 in Singapore.

“There was a lot of fuss about Singapore taking over Hong Kong as preferred jurisdiction over the last few years, but for 2025 alone, around 195,000 companies were formed in HK, vs around 77,000 for Singapore,” said Vivian. While city-wide registrations rose roughly 35% in 2025, incorporations at Air Corporate specifically grew by 40.5%. Vivian added, “With a 35% increase in the number of companies registered in 2025, Hong Kong is definitely back in the game as the top jurisdiction to start a company.”

The reality of Hong Kong company formation is increasingly global, lean, and founder-led. Nine in ten founders incorporated in Hong Kong with Air Corporate do not live there.

Key demographic and operational insights from Air Corporate’s client base include:

  • Approximately 90% of founders operate remotely from abroad, while 10% or less are based in Hong Kong.
  • Entrepreneurs aged 35 to 44 represent the largest age cohort at 38%, demonstrating that Hong Kong attracts founders in their prime career years rather than just younger digital nomads.
  • Serial entrepreneurs make up 60% of Air Corporate’s client mix, utilizing Hong Kong as an operational base for multiple companies, while first-time founders account for the remaining 40%.
  • A total of 89% of new companies are launched by solo founders (58%) or small teams of two to five individuals (31%).
  • Mainland China, Hong Kong, Turkey, India, the UAE, Australia, France, and Morocco rank among the top source markets for these founders.

Furthermore, 73% of new Hong Kong incorporations are directly tied to physical goods trade with China. This consists of e-commerce and dropshipping businesses (38%) and the trading of goods (35%). The recovery of in-person trade flows, including events, such as the Canton Fair and various industrial fairs, is pulling foreign founders back into the Greater China orbit and establishing Hong Kong as the natural entry point and financial layer over the world’s largest manufacturing base.

Air Corporate’s data recorded a 20% year-over-year growth in founders originating from the Middle East. This shift highlights a reverse migration where founders previously incorporated in Dubai are now choosing Hong Kong. Based on Vivian’s observations, founders often arrive in Dubai expecting fast incorporation and low costs, but discover that incorporation and maintenance are significantly more expensive than in Hong Kong, and banking remains difficult. Consequently, many founders move to Hong Kong after 12 to 24 months in the UAE, a trend accelerated by the Hong Kong government’s strategic outreach to the region.

For lean, remote-first businesses, speed-to-market is a critical factor. A founder located anywhere in the world can incorporate in Hong Kong and open a working bank account in approximately 7 days using digital banking partners. Currently, 90% of Air Corporate’s clients utilize these digital banking partners.

“Hong Kong and Singapore are the only places in Asia where you can set up your company, get a corporate account, and be in business in less than a week,” concluded Vivian.

Air Corporate is a service provider facilitating company formation and incorporation in Hong Kong for serial entrepreneurs, first-time founders, and remote-first business owners operating globally.

Media Inquiries
To learn more about Hong Kong company formation, visit Air Corporate’s website or contact their team directly.

Hashtag: #AirCorporate

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

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Natural Diamonds Sparkle on The Red Carpet at The 2026 Met Gala Celebrating “Costume Art”

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8 hours ago

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15/05/2026

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Today’s biggest stars express individuality and confidence with natural diamonds

NEW YORK, US – Media OutReach Newswire – 15 May 2026 – The 2026 Met Gala celebrating “Costume Art” took place May 4th at the Metropolitan Museum of Art in New York City, bringing together leading figures from across the globe for an unforgettable evening. These tastemakers showcased the most classic, refined and distinctive diamond jewelry looks of the season. Below, A Diamond is Forever highlights the standout trends from the event.

Desert diamonds

Desert diamonds emerged as a striking throughline on the Met Gala carpet, with a range of hues in distinctive settings taking focus.

Rihanna led the trend in a pair of exceptionally rare old Moghul Golconda fancy brown-yellow diamond earrings by Glenn Spiro, featuring two pear-shaped natural diamonds totaling 51.9 carats. Doja Cat offset her all nude look with a pair of large Leviev Diamonds floral-shaped earrings while Paloma Elsesser made a statement in a 29.5-carat diamond necklace by Bernard James, centered around a 15-carat fancy light yellow pear-shaped natural diamond. Cara Delevingne wore a De Beers London Forces of Nature High Jewelry ring, featuring marquise yellow diamonds set as eyes, while Emma Chamberlain opted for yellow and white diamond earrings by Chopard, underscoring the continued allure of warm diamond hues.

Magnificent Diamond Earrings

A wide variety of captivating silhouettes defined the natural diamond earrings on the Met Gala carpet. Zoë Kravitz delivered a modern twist with oversized diamond flower earrings by Jessica McCormack. Chase Sui Wonders opted for Jean Schlumberger by Tiffany & Co. Sea Fan earrings, bringing an element of sculptural artistry to the look. Gracie Abrams selected gently dangling Chanel earrings, adding understated fluidity, while Connor Storrie selected simple hoop earrings from Tiffany & Co., reinforcing the clean and enduring appeal of natural diamonds.

Standout Diamond Moments

Natural diamonds appeared in personal, unconventional and eye-catching ways, offering moments of surprise and awe. Power couple Beyoncé and Jay-Z embodied this trend with Beyoncé wearing Chopard’s Queen of Kalahari necklace, named after the rare 342-carat diamond that provided 23 stones for Chopard’s Garden of Kalahari collection. Jay-Z contributed to the narrative with a vintage diamond brooch by Briony Raymond worn at the collar as an unexpected placement that underscored the piece’s versatility. Isha Ambani made the styling of diamonds an art form in itself, wearing her own diamond jewelry featuring approximately 150 carats of old mine-cut diamonds, including a three-strand necklace and chandelier earrings, while also incorporating diamonds sewn directly into the bodice of her sari to represent significant moments in her life.

Together, these looks highlighted a shift toward natural diamonds as vessels of personal expression, styled with intention, individuality, and a sense of the unexpected.

Hashtag: #MetGala #RedCarpet #ADiamondisForever #NaturalDiamonds #Diamonds





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

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Turn Your Savings into a Front-Row Experience: HL Bank Singapore Offers Exclusive Passes to AsiaTop Music Festival 2026

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19 hours ago

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14/05/2026

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The premier music festival will play host to 16 K-pop, regional and Malaysian stars including, in performance order: Day 1 – NexT1DE, Aina Abdul, Belle Sisoski, Win Metawin, NMIXX, WINNER, DAESUNG, KUN. Day 2 – Uriah See, Firdhaus, Butterbear, 82MAJOR, STAYC, CRAVITY, TWS, CxM

SINGAPORE – Media OutReach Newswire – 14 May 2026 – Your next major K-pop experience is just a savings goal away as HL Bank Singapore (“HLB Singapore”) bridges the gap between financial wellness and the front row. In an exclusive collaboration designed for the ultimate music enthusiast, the bank is offering fans the chance to secure a pair of sought-after AsiaTop Music Festival 2026 tickets, valued at up to RM1,098 (approx. S$355), simply by growing their wealth.

HL Bank Singapore is giving music fans the chance to redeem exclusive passes to the AsiaTop Music Festival 2026, featuring top Asian acts, through its iSavings Reward Campaign.

This unique initiative stems from the regional synergy between Hong Leong Bank (“HLB”) and Tencent Music Entertainment Group (JOOX and QQ Music). By aligning with Visit Malaysia Year and Visit Selangor Year 2026, HLB is transforming the traditional banking experience into a gateway for premium entertainment. Scheduled for 30 and 31 May 2026 at the iconic Sepang International Circuit, the festival promises a high-octane weekend featuring an elite lineup of Asian superstars, including the largest K-pop showcase in the ASEAN region.

Securing a spot at the heart of the action has been streamlined through the iSavings Reward Campaign, running from 9 May 2026 to 18 May 2026. To participate, fans first decide on their preferred festival experience, selecting either a pair of Standard Passes with a S$5,000 deposit or the high-energy, nearer-to-the-stars Rockzone Passes with a S$8,282 deposit for their chosen day.

Once a tier is selected, customers can register by depositing the qualifying funds into an iSavings account via FAST or Links transfer. To validate their entry, customers must include the specific Comment Code, such as PALLIR1 for Day 1 Rockzone, within the funds transfer description. The qualifying balance must be maintained within the account for a six-month (182 days) earmarked period.

With only 88 pairs of tickets available for this exclusive campaign, the stakes are high. Allocation is limited to 22 pairs per day for each ticket category and will be awarded strictly on a first-come, first-served basis. Fans are encouraged to act quickly to ensure their savings work as hard as they do while securing a premier seat at the musical event of the year.

For full terms & conditions, and further details, please visit: www.hlbank.com.sg/AsiaTop2026

Hashtag: #HLBankSingapore

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

HL Bank Singapore

HL Bank Singapore is the Singapore branch of Hong Leong Bank Berhad, a leading digital-centric Malaysia-based financial services institution with a rooted heritage in the country spanning over 120 years. Operating under a Full Bank Licence in Singapore, HL Bank offers a comprehensive range of financial services to our business, retail and high networth customers through our 4 core business segments – Business & Corporate Banking, Personal Financial Services, Private Wealth Management and Global Markets.

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