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Siam Paragon Unveils NEXTOPIA, a Global First Prototype for the World of Tomorrow

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BANGKOK, THAILAND – Media OutReach Newswire – 28 November 2025 – Siam Paragon, one of the world’s most visited global landmarks, continues to hold a Top of Mind position as a premier destination that consistently delivers experiences beyond expectations. Over the past two decades, Siam Paragon has continuously pioneered new retail prototypes and shaped outstanding success stories. Its latest achievement is the launch of NEXTOPIA: The Prototype for World of Tomorrow, an unprecedented new world created through the combined capabilities of Siam Paragon and global partners, including innovation organizations, business alliances, communities, and Friends of NEXTOPIA. Open to everyone to Join us in the Making of a Better World, NEXTOPIA aims to enrich quality living and meaningful happiness in every dimension. This marks another milestone of success for Siam Piwat, the owner of the Global Destination development concept that delivers experiences beyond expectations and serves as a Game Changer which clearly demonstrates that the capabilities and creativity of Thai people are strong on global stage.

NEXTOPIA, new World-Class Attraction by Siam Paragon, is conceived under a Revolutionary Concept as a major co-creation platform to Co-creating Communities for a Better World. Spanning more than 15,000 square meters on Floors 5 and 5A, the project represents an investment of over THB 850 million.

This is a prototype city of the future that brings together industry leaders, innovators, and environmental advocates to showcase comprehensive sustainable innovations. The space invites everyone to take part in building a better urban community under the concept Join us in the Making of a Better World. Every experience at NEXTOPIA is designed to elevate everyday living with creativity, from environmentally friendly architecture, year-round sustainability-driven activities, and sustainable retail, to dining concepts that place sustainability at their core. NEXTOPIA represents a true integration of sustainability into daily life.

ENG NEXTOPIA Model

The NEXTOPIA Model is a prototype platform for large-scale collaboration to build a better world. It applies the Co-creation concept with visionary partners and drives practical participation through Experimental Engagement that is enjoyable and creates positive impact leading toward sustainability. The model consists of three core components:

1. Cutting-edge Infrastructure: A vital foundation formed by the Co-creation of 50 visionary organizations across diverse industries, integrating knowledge to collaboratively build a complete model city for the world of tomorrow.

2. Communities: Positive Forces for a Better World. A convergence of active environmental and sustainability advocates powered by more than 30 communities, together with Friends of NEXTOPIA, united to drive long-term impact.

3. Retailers: Defining New Global Standards. Retailers and service providers delivering value-led offerings rooted in Sustainability, Equality, and Inclusivity, comprising more than 40 brands and over 300 SMEs that play a vital role in this ecosystem.

NEXTOPIA represents a significant step in advancing Sustainability into concrete practice. Siam Piwat has consistently operated under the principles of sustainable development, integrating these principles across all dimensions of the organization — from internal management and customer-related activities to projects that continually benefit Thai society. In July 2025, Siam Paragon signed a power purchase agreement with the Metropolitan Electricity Authority under the Utility Green Tariff (UGT1) program, a green electricity service accompanied by a Renewable Energy Certificate (REC). As a result, this makes Siam Paragon as Thailand’s first retail group to source over 30% of its electricity from certified renewable energy of Siam Piwat Group.

NEXTOPIA SIAM PARAGON 5

Recently, NEXTOPIA achieved a new milestone by receiving the Fitwel Certification (2-Star level). It is officially the first Multi-Tenant Retail Building project in Thailand to earn Fitwel 2-Star Certification, reflecting a commitment to health, well-being, and creating a sustainable environment for all visitors.

NEXTOPIA drives a major Co-Creation movement, uniting leading global organizations to build a prototype city of the future.

NEXTOPIA represents a significant global collaboration, uniting leading organizations to Co-creating Communities for a Better World, with visionary partners collectively advancing sustainability across multiple dimensions. Siam Paragon and NEXTOPIA are working together with the United Nations (UN) and international organizations, including UN Global Compact Network Thailand, UN World Food Programme, UNDP BIOFIN, UNICEF, and WWF, reflecting a global collaboration taking place in Thailand with participation from countries around the world.

NEXTOPIA has been co-founded with the support of more than 50 leading organizations across diverse industries, all sharing a united mission to build a better world. These include principal partners such as B.Grimm, SCG Decor Public Company Limited (COTTO), Indorama Ventures Public Company Limited, KASIKORNBANK Public Company Limited, and The Siam Cement Public Company Limited (SCG).

The initiative further brings together a wide range of mission-driven partners committed to creating a better world, spanning multiple industries, including Atelier Ten, Bangkok Cable Co., Ltd. (BCC), NS BlueScope (Thailand), CASA TECH CO., LTD, Coway (Thailand) Co., Ltd., Siam Daikin Sales Co., Ltd., Dynasty Ceramic Public Company Limited, ENDO Lighting Corporation, EEC Engineering Network, JOURNAL CORP CO., LTD., VITTEK, Plan B Media Public Company Limited, Saint-Gobain (Thailand), SC Asset Corporation Public Company Limited, The Shell Company of Thailand Limited, Thai Obayashi, TOA Paint (Thailand) Public Company Limited, TPI Polene (Public) Co., Ltd., Urban Architect, Vanachai Group Public Company Limited, Welcraft Products Co., Ltd., and WP Energy Public Company Limited. In addition, NEXTOPIA collaborates with King Mongkut’s Institute of Technology Ladkrabang (KMITL), led by Assoc. Prof. Dr. Singh Intrachooto, Chief Sustainability Advisor, who co-creates and oversees the development of this prototype for the world of tomorrow together with the NEXTOPIA Team, a young generation of executives from Siam Piwat.

NEXTOPIA: A prototype space of sustainable innovations and future infrastructure.

NEXTOPIA brings together cutting-edge innovations for sustainable development and applies them across every dimension, from meticulously designed infrastructure to showcased technologies that maximize resource efficiency and generate usable renewable energy. This marks the first time in the global retail industry that a destination unites breakthrough innovation, creative collaboration, and sustainability in a fully integrated ecosystem that sets a new benchmark for the global retail industry.

Sustainable Innovation & Clean Energy

  • The Kinetic Floor
    A kinetic energy floor that converts every step into clean electricity. Built on the idea that everyone can play a role in generating renewable energy, the system not only produces power but also visualizes energy creation in real time. Developed through a collaboration between Bangkok Cable and King Mongkut’s Institute of Technology Ladkrabang, it showcases technology and creative design as a practical model for sustainable cities of the future.
  • The Clean Energy
    NEXTOPIA partners with B.Grimm to install one of Thailand’s largest solar rooftop systems, converting sunlight into clean energy that can be used directly within the project. This initiative advances accessible green power and enhances a key innovation in clean-energy management for next-generation retail environments.

Innovations for Clean Air & Climate Comfort Solutions

  • Floor Radiant Cooling
    Experience natural cooling through a radiant floor system that eliminates the need for forced-air ventilation. By avoiding air blowers, it reduces the circulation of dust, allergens, and airborne pathogens, ensuring cleaner and safer air. The system is energy-efficient and environmentally friendly, developed by Casa Tech.
  • The Cooling Waterfall
    A 16-meter waterfall flowing across three levels creates a massive natural cooling effect. Acting like a giant air conditioner inspired by nature, it nhances humidity and conserve energy to create a comfortable environment.
  • DAS & DOAS
    Advanced air-conditioning technology by Daikin, combining the Displacement Air System (DAS) with the Dedicated Outdoor Air System (DOAS) to mirror cleanroom mechanisms. The system continuously separates and removes stale air, contaminants, and airborne pathogens, delivering purified, fresh, and comfortably cool air throughout the space.
  • Healthy Building Materials and Paints
    NEXTOPIA uses TOA specialty paints that are free from mercury and lead and emit ultra-low volatile organic compounds (VOCs), ensuring exceptional indoor hygiene and compliance with global green-building standards. Additionally, TPI Polene, Vanachai Group, and Saint-Gobain supply building materials specifically engineered to reduce hazardous chemical emissions and minimize environmental impact across the project.
  • Recycle Building Material
    BlueScope metal sheets are used as sustainable building materials that offer high recyclability and long-lasting structural durability. By applying recyclable, robust materials, NEXTOPIA reduces resource consumption in a measurable and meaningful way.

Beyond delivering purified air with precise temperature and quality control 365 days a year, NEXTOPIA is enriched with meaningful art, architecture, and interior design. Key highlights include The Tree of Life, a grand entrance that welcomes visitors into the prototype city of tomorrow; The Spiral, a sculptural staircase linking Floors 4, 5, and 5A, designed with a nature-inspired concept that artistically reconnects humans with the natural world, enhanced by art pieces made from upcycled materials; and The Forest Canopy and The Ocean Canopy, avant-garde interior creations made from recycled materials and ocean waste, transformed into captivating works of art. The atmosphere is further elevated with a bespoke fragrance exclusively crafted for NEXTOPIA by JOURNAL, enhancing the sensory experience throughout the space.

The Globe at NEXTOPIA: World Sustainable Reflection and Global Trend
Discover a new way of seeing the planet through The Globe: World Sustainable Reflection and Global Phenomena, a striking installation floating at the heart of NEXTOPIA. Created in collaboration with Plan B Media, this immersive centerpiece presents a new perspective of our world through real-time sustainable storytelling. Highlight Innovations Include:

  • Real-Time Planetary Data: Displays live global climate conditions and natural phenomena, powered by insights and scientific data from the Geo-Informatics and Space Technology Development Agency (GISTDA) and the National Aeronautics and Space Administration (NASA).
  • Eco Impact Dashboard: A dashboard visualizing environmental impact in 4 dimensions: energy use, water use, waste management, and electricity produced from every step on The Kinetic Floor, represented as a power index displayed on The Globe.

Experimental Engagement: Playful Participation That Drives Real Impact
Every step in NEXTOPIA encourages you to live sustainably in simple, enjoyable ways. Interactive attractions are thoughtfully integrated throughout the city, inviting visitors of all ages to take part in meaningful, hands-on experiences, such as:

  • The Vertical Farm: A real vertical farming experience brought to life for the first time within a city-center retail destination. This attraction showcases cutting-edge Thai agricultural technology, allowing visitors to join inspiring workshops and plant their own vegetables and herbs with ease. Participants can take their harvest home or have it used in restaurants within NEXTOPIA. Co-created with Distar.
  • AR Binoculars: Special augmented-reality binoculars help visitors better understand the innovative features across NEXTOPIA. By pointing the device at different spots, digital explanations appear instantly, making learning intuitive and engaging for both children and adults.
  • NEXTOPIA Mascots: Meet the citizens of NEXTOPIA which are Nextsi, Tobi, and PYE. Our friendly mascots positioned throughout the space to welcome and interact with visitors, adding fun and connection to the journey.

In addition, everyone can experience NEXTOPIA anytime, anywhere through NEXTOPIA World on the ONESIAM SuperApp. Users can explore stories and information about each zone, stay updated on upcoming activities, and actively participate in Co-creating Communities for a Better World with NEXTOPIA. The platform also rewards users with exclusive benefits through Green Points, encouraging sustainable engagement in everyday life.

NEXTOPIA is driven by Communities & Friends of NEXTOPIA, united to build a better world.

NEXTOPIA is a space designed for meaningful participation, inviting everyone to engage in activities that generate positive impact for society and the planet. Through ECO-workshops, exhibitions, and thought-provoking talks featuring global sustainability leaders, NEXTOPIA fosters inspiration and collective action. The Community Room, a co-working hub in the heart of Bangkok, welcomes all to work, collaborate, and exchange ideas, serving as a year-round center for community empowerment. It stands as a catalyst for communities dedicated to improving lives and creating a better world — 365 days a year.

Everyone is invited to Join us in the Making of a Better World, raising awareness and driving action on global issues spanning social equity, environmental protection, and humanitarian causes under the concept of Global Awareness. This mission is powered by community organizations, thought leaders, and media allies who share the same values and are committed to transformative change. Partners include AUTISTIC THAI FOUNDATION, CANNS, CHALUPAS, DOTS COFFEE, FYI MARKET, IWELTY.CLUB, LOCAL ALIKE, LOOPERS, Microsoft, MIRREN, PATOM ORGANIC LIVING, PEACHES ACTIVE, PRECIOUS PLASTIC, SOAP OPERA, SOI DOG FOUNDATION, SOUL GLOW WITH MAI, SOUL 4 STREET, THAILAND GASTRONOMY NETWORK, THE PAWSE CLUB, TOCA, UNITY.BANGKOK, USEMEREPEAT, VTOPIA, WAMP.CO, WORLD FOOD PROGRAM, WWF, YAMAHA, YPS PILATES, The Church of Jesus Christ of Latter-day Saints, Carbon Institute for Sustainability, Thailand Environment Institute Foundation, Social Enterprise Thailand Association, The Royal Flora Ratchaphruek, CNN, ENVIRONMAN and many more who will join in creating meaningful initiatives For the Greater Good together.

In addition, Friends of NEXTOPIA: inspiring individuals from diverse fields and influential voices will take part in sharing knowledge, perspectives, and creative experiences. This group includes Khemupsorn Sirisukha (Little Big Green), Pattaradanai Setasuwan (Koen), Amata Chittasenee (Pearypie), Charee Boonyavinij (Uncle Ree), Jinn Sattapornsattitsuk (GROM), Pimlada Chaiyapreechawet (PEAR is hungry), Sai Scott, Intiporn Taemsukhin (Maxdicine), Warut Chanthayanont, Jiraroach Pochanavaraphan,

Dr. Saran Naraprasertkul, and many others who will collaborate to deliver inspiring talks, meaningful storytelling, and creative workshops aimed at building a better world.

NEXTOPIA Creates a Platform for Entrepreneurs with a Sustainability Mindset

Within NEXTOPIA, entrepreneurs come together to build businesses that generate positive impact for communities, society, and the country. They operate responsibly, offering products and services under the concept of Co-creating Communities for a Better World, designed for a new generation of conscious consumers who value smart choices, sustainability, and creativity that benefits both people and the planet.

Beyond commerce, NEXTOPIA also serves as a platform of opportunity, bringing together individuals from diverse backgrounds to create meaningful change. Guided by the values of Sustainability + Equality + Inclusivity, this space recognizes the potential of every person to contribute — whether by showcasing purposeful products or participating in community-driven initiatives. NEXTOPIA becomes a Life Transformation experience, where every visit delivers a sense of pride through meaningful involvement in protecting the planet and creating value for others — an experience that money simply cannot buy.

A Creative Powerhouse of Green Entrepreneurs, from Thailand to the World

Led by ECOTOPIA, a community that believes “Together, we can co-create the world better.” This space curates sustainable products and innovations from environmentally conscious entrepreneurs — from local SMEs to global brands — across 8 key categories: Upcycled, Zero-Waste, Hygienic, Beautiful, Stylish, Kids, Green, and Wellness. ECOTOPIA is a platform that empowers everyone to drive real change, helping people discover simple, everyday ways to live more sustainably. Every product embodies purpose, creativity, and the commitment of its creators. Every purchase and every act of participation becomes a meaningful contribution, benefiting you, your community, and the planet.

ECOTOPIA has been recognized among Asia’s 20 Coolest Retailers, selected by Inside Retail, a leading retail business media in Asia that highlights brands celebrated for their uniqueness, creativity, and power to inspire across the Asian region.

In addition, NEXTOPIA brings together leading sustainable brands from across industries including Doi Tung from Mae Fah Luang Foundation, Chan, MIIR, Sedar.W, Shima Park (first in Thailand), Somuti, Sudtana, and many more who are joining this future-forward movement.

NEXTOPIA also welcomes pets, opening a new world for you and your animal companions. Club Pawrents by Arak offers curated products specially designed for pets, along with professional veterinary services by Arak Animal Hospital, led by expert veterinarians providing comprehensive care. The full-service clinic will officially open on December 12, 2025. In addition, animal lovers can explore Pawtopia, a joyful haven filled with quality brands and adorable products, offering an exciting shopping experience for every pet parent.

A New Standard of Sustainable Dining & Café Experiences

NEXTOPIA curates restaurants and cafés built on the principles of Sustainability, where every brand operates responsibly — reducing waste, minimizing food loss, and managing food waste properly with a commitment toward Zero Waste to Landfill. The spaces are powered by clean energy from WP Energy, while menus highlight fresh, healthy ingredients sourced from local farmers, celebrating flavors that are both delicious and responsible. Every dish is crafted with taste and purpose, allowing guests to enjoy memorable dining while contributing to a better world. Discover world-renowned and Thai favorites including L’antica Pizzeria Da Michele and Gordon Ramsay Street Burger, each opening their first location in Thailand at NEXTOPIA Siam Paragon. Other highlights include %Arabica, A Keen House, City Fresh, Crafter by Hobs, Dean & Deluca, Distar Fresh, Fallabella, Fatbro, FIKKA, Gelateria Kitokki, GROW by getfresh, Gong Cha, Henry Fry, Hopsy. Story, Kyo Roll En, Nicolo, Piche, Shabu Baru, Shersanctuary Teabar, Small Table, Ta Lay Jai, Kai Yang Suea Yai, Tiew Copper Craft, Sapparos, and more. NEXTOPIA also welcomes socially impactful concepts such as Dots Coffee, a café employing visually-impaired baristas, and SC All-Day Morning Café, a breakfast-inspired experience served all day long.

At the heart of NEXTOPIA stands The Spiral, a striking staircase leading to the 4th floor where EATELIER, a new era of Dining Entertainment, unfolds. This innovative destination blends culinary art with music, fashion, and culture, revolutionizing the way people dine and unwind. Designed as Bangkok’s first “Eat–Drink–Chill Hub,” it introduces an immersive experience never before seen in the city. Rooted in the concept of “Curation & Co-Creation,” EATELIER brings together Michelin-starred chefs, artists, performers, and entertainment icons from Thailand and around the world to co-create exclusive culinary journeys. The experience is elevated further with Live Bands & DJs, energizing the space with vibrant, day-to-night atmosphere filled with flavor, creativity, and excitement.

The launch of NEXTOPIA marks a pivotal milestone as Siam Paragon enters a new decade, completing the most significant renovation in its 20-year history. This transformation introduces world-class attraction that elevate the global retail destination to the next era. Among the highlights is MELAND, one of the world’s most advanced indoor theme parks and the first global flagship outside China, opening on Level 5. Additionally, EATELIER, a groundbreaking Dining Entertainment destination on Level 4, emerges as the newest hangout hub in the heart of Siam.

NEXTOPIA, Prototype for The World of Tomorrow, stands as a global destination that creates meaningful value for every visit, for individuals, communities, and the planet. It is set to become a powerful magnet that draws people from every corner of the world. Siam Paragon continues its unwavering commitment to delivering experiences beyond expectations, consistently introducing groundbreaking phenomena that redefine the industry. This reinforces its position as a Revolutionary Retail Development, a true game-changer in global retail real estate, and secures its place as the number-one global destination in the hearts of Thai consumers and international travelers alike.

Hashtag: #NEXTOPIA #PROTOTYPEWORLDOFTOMORROW #SIAMPIWAT #SIAMPARAGON #ECOTAINMENT #YEARENDCELEBRATION #20YEARSIAMPARAGON #PROTOTYPECITYOFTOMORROW #COCREATEFORABETTERWORLD #SUSTAINABILITY #RETAILSUSTAINABILITY #WORLDOFTOMORROW #BANGKOK #CHRISTMASINBANGKOK #BANGKOKHAPPENING

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

About NEXTOPIA

NEXTOPIA, new World-Class Attraction by Siam Paragon, is conceived under a Revolutionary Concept as a major co-creation platform to Co-creating Communities for a Better World. Spanning more than 15,000 square meters on Floors 5 and 5A, the project represents an investment of over THB 850 million.

This is a prototype city of the future that brings together industry leaders, innovators, and environmental advocates to showcase comprehensive sustainable innovations. The space invites everyone to take part in building a better urban community under the concept Join us in the Making of a Better World. Every experience at NEXTOPIA is designed to elevate everyday living with creativity, from environmentally friendly architecture, year-round sustainability-driven activities, and sustainable retail, to dining concepts that place sustainability at their core. NEXTOPIA represents a true integration of sustainability into daily life.

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Media OutReach

KGI: 2026 Global Market Outlook

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Beyond Balance: The Next Regime

HONG KONG SAR – Media OutReach Newswire – 13 January 2026 – Today, KGI has released its 2026 Global Market Outlook, covering markets in the US, Mainland China, Hong Kong, Taiwan, and Singapore.

(From left) James Chu, Chairman at KGI Securities Investment Advisory; James Wey, Head of International Wealth Management at KGI; Cusson Leung, Chief Investment Officer at KGI

After a turbulent year of trade disruptions and policy uncertainty under President Trump, investors face new questions. China has unveiled its 15th Five-Year Plan, as policymakers aim to support domestic growth amid global challenges. The market outlook for 2026 is shaped by interest rate decisions, economic resilience, and shifting international dynamics.

Under this backdrop, we propose the “LEAD” strategy for 2026:

  1. Liquidity Shift
  2. Earnings Focused
  3. Adding Credit
  4. Diversified Assets

Cusson Leung, Chief Investment Officer at KGI, says: “Looking ahead to 2026, investors can adopt a LEAD strategy: L ​​stands for Liquidity Shift, benefiting from a weakening US dollar and interest rate cuts, with funds expected to flow to non-US dollar and Asian currencies; E stands for Earnings Focused, focusing on earnings growth to support valuations and allocating to US, European, and Japanese stocks; A stands for Adding Credit, locking in the credit of leading companies and increasing holdings of A-rated investment grade bonds; and D stands for Diversified Assets, responding to the upward trend in both stocks and bonds by including alternative assets to optimize asset allocation.”

Macro & US Markets
The US economy will experience a more pronounced downturn in 4Q25, which will extend into 1H26, and this will have a negative impact on consumption, slowing investment activity. Nevertheless, AI-driven productivity gains should provide some support, with US GDP growth in 2026 forecast at 2.2%. The eurozone will see moderate growth, with Germany benefiting significantly from fiscal expansion and economic improvement. Japan’s economy will strengthen on domestic demand, aided by additional fiscal stimulus. China has demonstrated resilience under trade protectionism in 2025. With inflation risks easing and labor market risks rising, the US Fed cut the interest rates in September 2025, with a total reduction of 75 bps in 2025, followed by an additional 50-75 bps in 2026.

Regarding US stocks, AI-driven productivity gains and cost reductions should sustain solid profitability, with S&P 500 earnings projected to grow by 13.55% year-on-year (YoY) in 2026. However, higher risk premiums may cap valuation upside, leading us to project a year-end target of 7,650 points. Market performance will reflect risk-driven declines in 1Q26, stabilize and recover in 2Q26, and rally significantly around the midterm elections in 4Q26. By sector, among AI-related themes we favor technology, semiconductors, utilities (on higher power demand), machinery for advanced manufacturing, and industrial REITs. Non-AI beneficiaries include aerospace and defense (on higher military spending), pharmaceuticals (on tariff benefits), and capital market segments (supported by active investment banking). As for fixed income, US economic weakness and Fed rate cuts will drive Treasury yields lower, with 10-year yields expected to fall to 3.5-3.7% by 2Q26. We recommend allocating to US Treasuries or high-rated investment-grade corporate bonds in 1H26, then rotating into high-yield bonds in 2H26 as policy rates and economic conditions reach a bottom.

James Chu, Chairman at KGI Securities Investment Advisory, says: “AI is triggering a new productivity revolution, supporting economic growth and strengthening corporate earnings. While the US economy is expected to slow, a recession remains unlikely, and the short-term impact of tariff policies should gradually fade by the first quarter of 2026. Although the Fed may shift from cutting rates at every meeting to cutting at alternating meetings, the overall environment remains a rate-cutting cycle. In a non-recession backdrop, lower interest rates should continue to support equity market performance.”

Mainland China and Hong Kong Markets
In terms of the macroeconomy, with the conclusion of trade agreements among many countries, risks have subsided. However, due to external drag, China’s GDP growth is expected to slow slightly to 4.6% in 2026. In 2026, investors should focus on four key areas for Hong Kong and mainland China markets: (1) In the consumption sector, domestic demand continued to be the core growth driver, contributing more than half of GDP. As the “trade-in” effect diminishes, the central government is expected to implement the “15th Five-Year Plan” and economic conference plans, launching a new round of subsidies covering culture, entertainment, and sports to continuously boost consumer spending. (2) In the financial market, risk appetite has increased. Given the narrowing spread between bond yields and fixed deposit rates, large amounts of savings are flowing into the capital market seeking returns. The fundamentals of the banking and insurance industries have bottomed out, and the credit structure is accelerating its shift from real estate to supporting the real economy. (3) Regarding the issue of “anti-involution,” the PPI remains weak, and capacity reduction has become a focus. Compared to 2015, this round involves more downstream private enterprises and needs to consider employment, presenting greater challenges. While industry consolidation is expected to be lengthy, the impact is controllable and beneficial for long-term healthy development. (4) Regarding new quality productive forces, this will replace real estate and infrastructure as the main investment focus. Digital infrastructure supports AI and embodied intelligence, and humanoid robots are expected to see commercialization in 2026, “iPhone moment.” Leading companies with core technological autonomy in innovative drugs will enjoy higher valuation premiums.

Overall, we are optimistic on Hang Seng Index. We expect the Federal Reserve’s interest rate cuts to drive fund inflows to the Hong Kong and mainland stock markets. Based on an upward revision of the forward PE ratio to 13.5x and 8% earnings growth, we set a target of 30,000 points for the Hang Seng Index by the end of 2026, representing a potential upside of approximately 14%. As confidence recovers, the investment style is expected to shift from defensive to growth stocks. Recommended 12 stocks: XPeng Motors (9868), UBTECH (9880), Tencent Holdings (700), Alibaba (9988), China Hongqiao (1378), AIA Group (1299), Ping An Insurance (2318), China Merchants Bank (3968), Akeso Biopharma (9926), Pop Mart (9992), Tencent Music (1698), and Sino Land (83).

Cusson Leung, Chief Investment Officer at KGI, says: “2026 marks a crucial turning point for the Chinese economy. While the market anticipates GDP growth to slow to 4.6%, “new quality productive forces,” resembling humanoid robots, is taking over as a new growth engine. The most critical signal in the market is the “awakening” of idle cash—massive savings are flowing from low-interest fixed deposits to the capital market seeking returns. With risk appetite returning and policy support intensifying, now is the time to shift investment strategies from “defensive” to “growth.” Driven by both valuation repair and earnings growth, we are optimistic that the Hang Seng Index will reach 30,000 points, and the allocation value of Hong Kong and mainland China stocks has reappeared.”

Taiwan Market
Compared to the dot-com era bull run, which lasted almost five years, the current AI frenzy has been around for about three years, suggesting that the uptrend is still in its middle phase and could extend through 2026.

AI plays are trading at high PEs, such valuations are backed by strong fundamentals. In fact, the PEG ratio of Taiwan’s AI supply chain has yet to surpass 1x. We estimate that aggregate earnings of AI plays will grow by 21% YoY in 2026, following impressive upticks of 35% in 2024 and 43% in 2025. AI stocks now account for more than 60% of TAIEX earnings, and with the ongoing AI arms race, overall TAIEX earnings growth is projected to accelerate from 14% in 2025F to 20% in 2026.

Although the AI frenzy should keep the bull market intact, volatility will rise in tandem due to: (1) substantial cumulative gains, and the fact that valuations are approaching historic highs; (2) policy and political uncertainty surrounding the US midterm elections; and (3) potential changes in the US Fed’s rate-cut pace. We expect the TAIEX to repeat a “smile-curve” pattern, featuring continued strength in 1Q26, followed by healthy corrections in 2Q-3Q26 before closing the year with a renewed upswing.

We think investors need to pay attention to two major themes. The first is a broad-based product spec upgrade trend across the AI supply chain, which will drive the industry into a new growth phase, with beneficiaries including foundries, GPU and ASIC designers, advanced packaging (such as CoWoS), and ODMs, as well as testing interfaces, memory, thermal solutions, CCL, ABF substrates, PCBs, switches, and power component suppliers amid strong AI computing demand and ongoing GPU platform upgrades. The second is diversification and defensive asset allocation. Innovations in consumer electronics, such as foldable iPhones and smart wearables, will provide growth opportunities, while companies with resilient domestic demand and stable high dividend yields offer a balanced strategy combining growth and income. Overall, investors should strike a balance between growth and resilience against volatility in their portfolios, in the face of market fluctuations.

James Chu, Chairman at KGI Securities Investment Advisory, says: “The solid earnings growth driven by AI and still reasonable valuations form a strong foundation for the ongoing bull market in Taiwanese equities. With AI adoption accelerating across enterprises and consumers, demand for computing power is rising rapidly. Yet supply remains constrained by chip and power bottlenecks, meaning hardware suppliers are likely to face continued shortages through 2026. Taiwan’s AI supply chain is set to remain a key beneficiary, particularly those tied to next-generation specification upgrades.”

Singapore Market
In 9M25, the overall performance of Singapore’s economy was better than expected as the global trade tensions eased after the US pivoted on its reciprocal tariffs and reached deals with its major trading partners. The manufacturing, wholesale trade and finance & insurance sectors remained the growth pillars of the Singapore economy, and each sector delivered decent growth. In particular, manufacturing’s growth has been robust, driven by the electronics, transport engineering and biomedical manufacturing clusters. The full year outlook is upbeat, as the growth momentum shall continue till the end of the year.

Looking ahead, the global economic outlook for 2026 suggests slower GDP growth for most of Singapore’s key trading partners, including China and the Eurozone, largely due to the impact of US tariffs, which will temper demand for Southeast Asian exports, though US growth is expected to remain resilient from AI investment. Consequently, Singapore’s outward-oriented sectors, particularly manufacturing and trade-related services, are projected to expand at a slower pace than in 2025, although the electronics and related sectors will benefit from AI demand, while some precision engineering and biomedical output may moderate domestically, the construction sector is set to grow, but consumer-facing sectors are likely to remain subdued. However, the relatively low interest rates and continuous government support shall buffer the impact of the slowdown, and the capital market will still benefit from the upward re-rating catalysts.

Chen Guangzhi, Head of Research at KGI Singapore, says: “Thanks to trade de-escalation and the AI wave, Singapore experienced significant economic expansion in 2025. Proactive government initiatives turbo-charged the equity bull run, and this strong momentum is expected to deliver an optimistic economic outlook for 2026.”
Hashtag: #KGI #MarketOutlook




Wechat: KGI 凱基

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

KGI

KGI* has been a leading financial institution in Asia since 1997. Our scope of business encompasses wealth management, brokerage, fixed income, and asset management. We are committed to offering a comprehensive range of financial products and services to corporate, institutional, and individual clients throughout Asia. Backed by KGI Financial Group, we have a robust footprint in Asia, covering Taiwan, Hong Kong, Singapore, Indonesia, and Thailand^.

*KGI refers to KGI Asia Limited and its affiliates.
^an investee enterprise of KGI Securities, not a subsidiary.

DISCLAIMER
All the information contained in this document is not intended for use by persons or entities located in or residing in jurisdictions which restrict the distribution of this document by KGI Asia Limited (“KGI”), or any other affiliates of KGI. Such information shall not constitute investment advice, or an offer to sell, or an invitation, solicitation or recommendation to subscribe for or invest in any securities, insurance or other investment products or services nor a distribution of information for any such purpose in any jurisdiction. In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America, or to or for the benefit of United States persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof). All the information contained in this document is for general information and reference purpose only without taking into account of any particular investor’s objectives, financial situation or needs and may not be redistributed, reproduced or published (in whole or in part) by any means or for any purpose without the prior written consent of KGI. Such information is not intended to provide any legal, financial, tax or other professional advice and should not be relied upon in that regard.
All investments involve risks. The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.
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BBSB International Limited Trading Debut Closed at HK$0.67 Per Share

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Representing an Increase of approximately 11.6%

HONG KONG SAR – Media OutReach Newswire – 13 January 2026 – BBSB International Limited (“BBSB” or the Company”, together with its subsidiaries, the “Group”; stock code: 8610.HK), an established civil engineering contractor in Malaysia, announces its successful listing on the GEM of The Stock Exchange of Hong Kong Limited (“SEHK”) today.

The closing price of BBSB’s shares was HK$0.67 per share. The highest share price of the day was HK$3.11 per share. On its first trading day, trading volume of the shares of BBSB reached approximately 120 million with a total turnover of approximately HK$180 million.

Lego Corporate Finance Limited is the Sole Sponsor. Lego Securities Limited is the Sole Overall Coordinator. Lego Securities Limited and Fortune Origin Securities Limited are the Joint Bookrunners and Joint Lead Managers.

Datuk Tan, Chairman of the Board and Executive Director of the Group, said, “The successful listing of the Group’s shares on the GEM of the SEHK today signifies a major milestone in the Group’s development, while also reflecting investors’ strong confidence in our business and future prospects. Looking ahead, we will continue to capitalise on our professional expertise in the civil engineering sector, actively seize development opportunities in Malaysia and other regions and remain dedicated to maximising value for our shareholders.”

Hashtag: #BBSB #IPO #Trading

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

BBSB International Limited

BBSB International Limited is a civil engineering contractor in Malaysia with over 16 years of experience, specialising in providing bridge engineering services for large-scale transportation infrastructure engineering projects owned or initiated by the government or government-linked companies in Malaysia. The Group has strategically expanded its civil engineering works to include flood mitigation works. The Group has participated in a number of notable transportation infrastructure engineering projects in Malaysia, such as Eastern Dispersal Link, Duta-Ulu Kelang Expressway, Damansara-Shah Alam Elevated Expressway and the SUKE Highway. The Group currently holds a CIDB Grade G7 qualification in Category CE (Civil Engineering Construction), Category B (Building Construction) and Category ME (Mechanical and Electrical) in Malaysia, which is the highest grade of contractor licence under the Construction Industry Development Board of Malaysia, allowing it to undertake civil and structural works of unlimited tender/contract value.

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Swiss-Belhotel International Strengthens Africa Portfolio with the Launch of The Gama by Swiss-Belhotel, Kilimani, Nairobi

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NAIROBI, KENYA – Media OutReach Newswire – 13 January 2026 – Swiss-Belhotel International, has signed a management agreement for The Gama by Swiss-Belhotel, Kilimani, Nairobi, with Albushra Real Estate Limited, marking the global debut of its newest brand concept and underscoring the group’s strategic expansion across Africa. The latest signing builds on the group’s established presence in East Africa, where Swiss-Belhotel International operates multiple properties.

Mr. Laurent A. Voivenel, Senior Vice President – Operations & Development, EMEA and India, Swiss-Belhotel International and Dr. Sheikh Mohamed Shakul, CEO of Albushra Real Estate Limited

Scheduled to open within the next 12 months, The Gama by Swiss-Belhotel, is strategically located in Kilimani, one of Nairobi’s most dynamic and sought-after districts. It features 155 well-appointed guest rooms, complemented by an extensive range of lifestyle and business facilities, including two food and beverage outlets, a fully equipped gym, a rooftop swimming pool, a dedicated ladies’ sauna, and expansive ballroom and meeting facilities.

Dr. Sheikh Mohamed Shakul, CEO of Albushra Real Estate Limited, said: “The Gama by Swiss-Belhotel represents a bold and future-focused development for Nairobi. Our vision was to create a modern hospitality and lifestyle destination that reflects the energy of the city while meeting the evolving expectations of today’s traveller. Partnering with Swiss-Belhotel International, with its global expertise and strong operational standards, ensures that this project will set a new benchmark in the market.”

Mr. Gavin M. Faull, Chairman and President of Swiss-Belhotel International, added: “The launch of The Gama by Swiss-Belhotel marks a significant milestone for our group as we introduce a new brand to our global portfolio. Africa continues to be a key focus market for Swiss-Belhotel International, and Nairobi, in particular, offers tremendous potential. This signing reflects our confidence in the city’s long-term growth and our commitment to delivering brands that are relevant, contemporary, and market-driven.”

Highlighting the strategic importance of the project, Mr. Laurent A. Voivenel, SVP – Operations & Development, EMEA and India, Swiss-Belhotel International, stated: “The Gama by Swiss-Belhotel has been carefully conceptualised to resonate with the next generation of travellers – those seeking authenticity, smart design, and social connectivity without compromising on comfort or service quality. This signing not only strengthens our footprint in Kenya but also underscores our broader expansion strategy across Africa and emerging markets.”

Hashtag: #swissbelhotel #swissbelhotelinternational #thegamabyswiss-belhotel #hotelkenya #hotelnairobi #kenya #nairobi




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

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