NINGBO MAYORS’ DIALOGUE YIELDS 14 COOPERATION AGREEMENTS - CGTN

KUALA LUMPUR, Nov 4 (Bernama) -- The 2026 Global Mayors Dialogue · Ningbo in China’s port city of Ningbo produced 14 cooperation agreements and a joint statement, the Ningbo Consensus on Cooperative Development, after the opening, China Global Television Network (CGTN) reported.

Themed "Openness and Connectivity for Shared Opportunities", the event brought together representatives from 15 countries and 20 international cities. The signed projects cover sister-city exchanges, trade and investment, science and education, and culture and tourism.

“The city’s opening up is not a one-way going out but a two-way embedding into global industrial and innovation chains,” said Ningbo Mayor, Shen Mingquan.

Meanwhile, Auckland Mayor Wayne Brown and Errachidia Mayor Karimi Said, from Morocco, were among the speakers, sharing how their cities have built links with global markets.

Ningbo, one of China’s first coastal cities to open up to foreign trade, maintains economic and trade ties with more than 220 countries and regions, according to CGTN in a statement.

In 2024, Ningbo-based Dashun Fur invested US$40 million in Egypt’s Suez Canal Economic Zone, expanding cooperation to modern logistics from traditional textiles. Products such as milk powder from New Zealand and Moroccan dates are popular among Ningbo residents, and the Maldives is one of their top 10 outbound tourist destinations. (US$1 = RM4.07)

According to CGTN, China’s goods trade reached 45.47 trillion Chinese yuan in 2025, up 3.8 per cent year-on-year, with trade with Belt and Road partners accounting for 51.9 per cent of the total, according to customs data.

The Ningbo Consensus commits participants to deeper industrial collaboration, open trade, and people-to-people exchange.

CGTN said the event showed that openness and connectivity, rather than isolation, remain the surest path to shared opportunity.

-- BERNAMA

16th PropertyGuru Asia Property Awards (Singapore) celebrate a market defined by resilience, sustainability, and community

More Than 40 Awards Presented, With Guocoland Clinching Its Fifth Best Developer Win in Singapore Awards History

SINGAPORE, Nov 3 (Bernama-GLOBE NEWSWIRE) -- The 16th PropertyGuru Asia Property Awards (Singapore) celebrated the city-state's finest developers, developments, and industry figures tonight, presenting more than 40 awards at a black-tie gala at The St. Regis Singapore, held under the theme "Defined by Excellence."

A Media Snippet accompanying this announcement is available by clicking on this link.

GuocoLand claimed the evening's highest honour, Best Developer, the fifth time it won this category in PropertyGuru Asia Property Awards (Singapore) history. The win capped a strong showing that also saw Springleaf Residence, a project with Hong Leong Holdings, and River Modern recognised across design, development, and sales categories.

UOL Group Limited was the most awarded company of the night, named Best Residential Developer, Best Sustainable Developer, and Best Hospitality Developer, plus design and development wins for NoMad Hilton Singapore.

UOL Group Limited's joint ventures also featured prominently. The Skye at Holland partnership of UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited, and Kheng Leong Co. collected multiple wins. The Thomson Reserve joint venture of UOL Group Limited, CapitaLand Development Pte Ltd, and Singapore Land Group Limited also won multiple awards.

Frasers Property Singapore won Best Luxury Developer, while Jean Yip Developments was named Best Landed Developer, in addition to wins for 35 Chancery Lane Developments. SingHaiyi Group Pte Ltd earned both Best Lifestyle Developer and Best Condo Developer, with Gallant Tang, group chief executive officer of SingHaiyi Group and Tang Organization, receiving the Rising Star award.

Goh Yeow Lian, executive chairman and managing director of Wee Hur Holdings Ltd, was named Real Estate Personality of the Year.

Soon Hock Enterprise Holding Limited won Best Industrial Developer, while Soon Hock Property Development Pte. Ltd. won for Stellar@Tampines. Meanwhile, The Assembly Place was named Best Co Living Operator, supported by its winning project Algo.

The Best Selling Awards, introduced this year as data-led recognitions of sales performance, went to City Developments Limited for Newport Residences; GuocoLand for River Modern; Hoi Hup Sunway Tampines Residential Pte Ltd for Pinery Residences; Sim Lian JV (Tampines 7) Pte Ltd for Rivelle of Tampines; Tengah Garden Development Pte Ltd & TGA Development Pte Ltd for Tengah Garden Residences; and the Skye at Holland joint venture of UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited, and Kheng Leong Co.

Winners across the development and design categories also included Bayshore Walk Pte Ltd (Vela Bay); FRX Capital (8 Brighton Crescent); Kingsford Lentor Project Pte Ltd (Lentor Gardens Residences); Lakeside Residential Pte Ltd (Sora); Phoenix Dunearn Pte Ltd (Dunearn House); and Sophia Residential Pte Ltd & Sophia Commercial Pte Ltd (One Sophia).

The competitively judged categories were determined by an independent panel chaired by Roy Ling, CEO of FollowTrade, board director, and adjunct professor. The panel also included Chua Shang Chai, partner at Dentons Rodyk & Davidson LLP; Sr. Daniel Wong Hwee Boon, associate professor at the National University of Singapore; Henry Woon, director at Atelier Ten; Ar. Ivy Koh, director of Architecture + Design, Buildings + Cities at SJ Group; Kelvin Chow, lead independent director at Addvalue Technologies Ltd; Dr Lee Nai Jia, director at PropertyDoctors (Singapore) Pte Ltd; Robert Greg Shand, architect at Greg Shand Architects; Saravanan Sugumaran, managing director at Morrow Intelligence; and Zhenru Goy, principal architect at Goy Architects. HLB supervised the judging process.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: "Singapore is unique. With limited land and fierce competition, this market demands precision, innovation, and foresight like nowhere else. That is why it produces the kind of winners it has: international titans and boutique visionaries who balance market eminence with climate-conscious design. They build mega-scale communities that still feel intimate, and they lead in hospitality, industry, and beyond. When capital, design, and market success converge, that is where our winners stand. To all our winners, you have set a benchmark that resonates far beyond these shores, and I cannot wait to see you represent the Lion City in Bangkok."

Roy Ling said: "Congratulations to all our winners. This year's Awards reflect a real estate industry that continues to embrace evolving market needs while upholding the enduring standards of quality, design and execution for which Singapore is renowned. True excellence goes beyond what we build today. It lies in creating real estate that remains relevant, resilient and valuable over time, where commercial success goes hand in hand with sustainability and wellbeing. Our winners exemplify this commitment, demonstrating that the best real estate creates not only lasting value, but places where communities can thrive."

Top Singapore winners from eligible categories may advance to the PropertyGuru Asia Property Awards Grand Final, competing for the Best in Asia titles on 11 December 2026 at The Athenee Hotel, a Luxury Collection Hotel, Bangkok.

The 16th PropertyGuru Asia Property Awards (Singapore) is supported by gold sponsor Mitsubishi Electric Asia; official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; media partners D+A Magazine, Gazet International, SquareRooms Magazine, Tatler Asia Homes, and Top 10 of Singapore; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

COMPLETE LIST OF WINNERS

DEVELOPER AWARDS

Best Developer
WINNER: GuocoLand

Best Residential Developer
WINNER: UOL Group Limited

Best Luxury Developer
WINNER: Frasers Property Singapore

Best Condo Developer
WINNER: SingHaiyi Group Pte Ltd

Best Landed Developer
WINNER: Jean Yip Developments

Best Lifestyle Developer
WINNER: SingHaiyi Group Pte Ltd

Best Hospitality Developer
WINNER: UOL Group Limited

Best Co Living Operator
WINNER: The Assembly Place

Best Sustainable Developer
WINNER: UOL Group Limited

Best Industrial Developer
WINNER: Soon Hock Enterprise Holding Limited

DEVELOPMENT AWARDS

Best Mixed Use Development
WINNER: One Sophia by Sophia Residential Pte Ltd & Sophia Commercial Pte Ltd

Best Industrial Development
WINNER: Stellar@Tampines by Soon Hock Property Development Pte. Ltd.

Best Hotel Development
WINNER: NoMad Hilton Singapore by UOL Group Limited

Best Mega Scale Condo Development
WINNER: Thomson Reserve by UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited

Best Luxury Condo Development
WINNER: Dunearn House by Phoenix Dunearn Pte Ltd

Best Premium Condo Development (CCR)
WINNER: Skye at Holland by UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited, Kheng Leong Co.

Best Premium Condo Development (OCR)
WINNER: Vela Bay by Bayshore Walk Pte Ltd

Best Private Condo Development
WINNER: Springleaf Residence by GuocoLand and Hong Leong Holdings

Best Waterfront Condo Development
WINNER: Vela Bay by Bayshore Walk Pte Ltd

Best Nature Integrated Development
WINNER: Springleaf Residence by GuocoLand and Hong Leong Holdings

Best Semi Detached Landed Housing Development
WINNER: 35 Chancery Lane Developments by Jean Yip Developments

Best Terraced Landed Housing Development
WINNER: 8 Brighton Crescent by FRX Capital

Best Nature Inspired Development
WINNER: Sora by Lakeside Residential Pte Ltd

DESIGN AWARDS

Best Hotel Architectural Design
WINNER: NoMad Hilton Singapore by UOL Group Limited

Best Mega Scale Condo Architectural Design
WINNER: Thomson Reserve by UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited

Best Premium Condo Architectural Design
WINNER: Skye at Holland by UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited, Kheng Leong Co.

Best Private Condo Architectural Design
WINNER: Springleaf Residence by GuocoLand and Hong Leong Holdings

Best Mega Scale Condo Landscape Design
WINNER: Thomson Reserve by UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited

Best Luxury Condo Landscape Design
WINNER: Dunearn House by Phoenix Dunearn Pte Ltd

Best Premium Condo Landscape Design
WINNER: Skye at Holland by UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited, Kheng Leong Co.

Best Private Condo Landscape Design
WINNER: Lentor Gardens Residences by Kingsford Lentor Project Pte Ltd

Best Luxury Condo Architectural Design
WINNER: Dunearn House by Phoenix Dunearn Pte Ltd

Best Co Living Space
WINNER: Algo by The Assembly Place

BEST OF SINGAPORE

Best Condo Development (Singapore)
WINNER: Springleaf Residence by GuocoLand and Hong Leong Holdings

Best Housing Development (Singapore)
WINNER: 35 Chancery Lane Developments by Jean Yip Developments

INDIVIDUAL AWARDS

Real Estate Personality of the Year
WINNER: Goh Yeow Lian, Executive Chairman and Managing Director, Wee Hur Holdings Ltd

Rising Star
WINNER: Gallant Tang, Group Chief Executive Officer of SingHaiyi Group and Tang Organization

BEST SELLING AWARDS

Best Selling Luxury Mixed Use Development
WINNER: Newport Residences by City Developments Limited

Best Selling Mixed Use Development
WINNER: Pinery Residences by Hoi Hup Sunway Tampines Residential Pte Ltd

Best Selling Luxury Condo Development
WINNER: River Modern by GuocoLand

Best Selling Premium Condo Development
WINNER: Skye at Holland by UOL Group Limited, CapitaLand Development Pte Ltd, Singapore Land Group Limited, Kheng Leong Co.

Best Selling Private Condo Development
WINNER: Tengah Garden Residences by Tengah Garden Development Pte Ltd & TGA Development Pte Ltd

Best Selling Executive Condo Development
WINNER: Rivelle of Tampines by Sim Lian JV (Tampines 7) Pte Ltd

NOTE: Use of the PropertyGuru Asia Property Awards logo is limited to the publication of this article only.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com
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M: (+65) 9238 9488
E: belinda@propertyguru.com.sg

Media & Partnerships:
Nate Dacua, Senior Manager, Media and Marketing Services
M: +66 92 701 2510
E: nate@propertyguru.com
Sponsorships:
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M: (+66) 85 440 1655
E: priya@propertyguru.com


ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:
PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair, and transparent.

In 2026, the Awards series is open to key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during PropertyGuru Week in December 2026.

For more information, please visit AsiaPropertyAwards.com.

ABOUT PROPERTYGURU GROUP:
PropertyGuru Group is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 30 million property seekers monthly2 to find their dream home. PropertyGuru empowers property seekers with close to 2 million real estate listings3, in-depth insights, and solutions that enable them to make confident property decisions.

Launched in Singapore in 2007, the Group has been advancing to make the property journey transparent and efficient for property seekers and sellers in Southeast Asia. In the last 19 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its markets in Singapore, Malaysia, Vietnam, Thailand as well as the region’s biggest and most respected industry recognition platform – PropertyGuru Asia Property Awards, events and publications across Asia.

For more information about PropertyGuru, please visit PropertyGuru.com.sg and PropertyGuruGroup.com, or our social media pages on Facebook, Instagram, Twitter, YouTube and LinkedIn.

1 Based on SimilarWeb data between January 2025 and December 2025.
2 Based on Google Analytics data between January 2025 and December 2025.
3 Based on data between January 2025 and December 2025.

SOURCE: PROPERTYGURU PTE. LTD.

--BERNAMA

LYONDELLBASELL TO SELL FORMER HOUSTON REFINERY TO VALERO FOR US$320.5 MLN

KUALA LUMPUR, Nov 2 (Bernama) -- LyondellBasell (LYB) has agreed to sell its former Houston Refinery site and related assets to a subsidiary of Valero Energy Corporation (Valero) for US$320.5 million as part of its ongoing portfolio transformation. (US$1 = RM4.05)

The buyer, Valero Refining-Texas LP, will take over responsibility for ongoing site operations, environmental liabilities, pension costs and related employee obligations.

“This transaction reflects the disciplined approach we are taking to transform our portfolio and create long-term value,” said LYB chief executive officer, Peter Vanacker in a statement.

He said the deal would allow the company to realise value from a non-core asset while placing the site and its employees with an owner whose core business is refining.

Vanacker added that the agreement provides continued employment for the site’s workforce.

Following the decision to cease refining operations at the site, LYBl evaluated a range of options and concluded that a sale offered the best opportunity to advance its strategic priorities.

The deal is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary closing conditions.

-- BERNAMA

ATOS NAMES JUDITH STEWART TO LEAD ASIA PACIFIC HEALTHCARE, LIFE SCIENCES

 

KUALA LUMPUR, Nov 2 (Bernama) -- Atos, an artificial intelligence (AI)-powered digital transformation company, has appointed Judith Stewart as Head of Healthcare & Life Sciences for Asia Pacific, as it seeks to grow the business and help healthcare organisations use AI, sovereign technologies and cybersecurity.

Atos Executive Vice President and Head of International Markets, Daniele Principato said Stewart brings extensive healthcare leadership experience and a deep understanding of the challenges facing the sector.

“Her appointment strengthens our Healthcare & Life Sciences capabilities in Asia Pacific and our ability to help clients accelerate transformation while addressing critical priorities around AI, cybersecurity and digital sovereignty,” he said in a statement.

In her new role, Stewart will lead Atos’ healthcare and life sciences business in Asia Pacific, focusing on growth, customer relationships and innovation.

“Healthcare and Life Sciences organisations are navigating significant change, and technology and AI have an important role to play in helping them transform and innovate.

“I look forward to helping our clients unlock that potential and deliver meaningful outcomes for the communities they serve,” said Stewart.

Stewart has more than 18 years of healthcare leadership experience in Australia and the United Kingdom, and was most recently Executive Director for Child and Adolescent Community Health Services at WA Health, Western Australia’s public health system, in Perth.

-- BERNAMA

UNI-FUELS TO CONSOLIDATE SHARES 1-FOR-10 FROM NOV 3

KUALA LUMPUR, Oct 30 (Bernama) -- Singapore-headquartered marine fuel solutions provider, Uni-Fuels Holdings Limited (Uni-Fuels) will consolidate its shares at a ratio of one-for-10, effective Nov 3, 2026.

The Nasdaq-listed company’s Class A ordinary shares are expected to begin trading on a post-consolidation basis when the market opens on Nov 3. They will continue to trade under the symbol “UFG”, with a new CUSIP number, G92Y4F134.

In a statement, Uni-Fuels said the consolidation will reduce the company’s issued Class A shares from 9,815,000 to about 981,500 and its Class B shares from 22,650,000 to about 2,265,000.

Every 10 shares, or part thereof, will be combined into one share, with fractional shares rounded up to the next whole share. All outstanding stock options, warrants and other rights to buy Class A shares will be adjusted proportionately.

The company is authorised to issue 500 million shares, comprising 450 million Class A and 50 million Class B ordinary shares.

Shareholders holding shares through a bank, broker or other nominee will have their holdings adjusted automatically to reflect the consolidation.

-- BERNAMA

AM Best Affirms Credit Ratings of KB Insurance Co., Ltd.

HONG KONG, Oct 30 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of KB Insurance Co., Ltd. (KBI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect KBI’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect the support that the company receives from its parent, KB Financial Group Inc. (KB Group) and its strategic importance to the parent.

KBI’s risk-adjusted capitalisation is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s local solvency ratio is largely in line with the industry average and demonstrates an adequate buffer above the minimum regulatory requirements. KBI has reported a positive adjusted financial leverage of 8.2% as of June 2026, as calculated by AM Best, after incorporating equity credit for subordinated debts and a strong interest coverage ratio. The company has good access to capital markets and maintains a conservative investment strategy.

KBI’s return-on-equity and combined ratios are largely in line with its domestic industry peers. However, near-term profitability remains under pressure for KBI’s major business line, long-term insurance, due to increased medical claims and market competition. AM Best expects the company to manage its profitability with stronger underwriting controls and a large contractual service margin base. Although KBI’s auto insurance line recorded underwriting losses in 2025, due to the cumulative impact of base rate cuts and intensified competition, the company continues to expand its auto online channel as part of ongoing efforts to improve acquisition cost efficiency. KBI remains the fourth-largest non-life insurer in South Korea with a stable market share of approximately 13%, while its overseas operations remain modest. The company plans to explore further international opportunities with a measured approach to diversify earnings and sustain long-term growth.

As a wholly owned subsidiary of KB Group, one of the largest financial holding companies in South Korea, KBI is strategically important to the parent in terms of business diversification given that it is the sole non-life insurer within the group. Since its affiliation into the KB Group in 2015, KBI has a track record of receiving explicit support to bolster its capitalisation. Implicit support includes shared distribution channels and group-wide marketing activities under the KB Group brand in both domestic and overseas markets.

Negative rating actions could occur if there is a significant deterioration in the balance sheet strength fundamentals of KBI. Negative rating actions also could arise if support from KB Group is reduced to a degree that no longer supports the current level of enhancement. Positive rating actions could occur if KBI’s operating performance demonstrates strong and consistent results to positively distinguish itself from industry peers.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20261029994589/en/

Contact

Seokjae Lee
Senior Financial Analyst
+852 2827 3407
seokjae.lee@ambest.com

Chanyoung Lee
Director, Analytics
+852 2857 3404
chanyoung.lee@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

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Senior Public Relations Specialist
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al.slavin@ambest.com

Source : A.M. Best Rating Services, Inc.

--BERNAMA

&TRUTH LAUNCHES WITH US$70 MLN, SETS UP SINGAPORE HQ

 

KUALA LUMPUR, Oct 30 (Bernama) -- Start-up developing technology to mathematically prove that software code is safe, &Truth, has emerged from stealth with US$70 million in seed funding and set up its international headquarters in Singapore. (US$1 = RM4.05)

Founded in early 2026, the public benefit corporation has its United States headquarters in Palo Alto, California. It was funded by a group of artificial intelligence (AI) safety and venture capital leaders.

“Once we can state precisely what code must do, AI can help prove that it does it, at a speed and scale previously out of reach,” said &Truth Co-Founder and Co-Chief Executive Officer (CEO), Clark Barrett in a statement.

Meanwhile, Digital Industry Singapore Senior Vice President and Co-Head Low Jin Yong said &Truth’s international headquarters would deepen Singapore’s capabilities in AI trust and safety while strengthening Singapore as a base for companies to develop trusted AI solutions.

The company said its Singapore office, which already has a team in formal methods, AI and systems engineering, will expand significantly across research, engineering, product and sales. It plans to work with Singapore’s institutions and industry on innovation, safe AI and talent development.

&Truth is building what it calls a universal verification machine to read code in any programming language and mathematically prove that it is safe, secure and correct, under clearly stated assumptions. The proofs are designed to be checked independently by anyone.

The company said formal verification, the mathematical proving of software, has existed for decades but was costly and manual, limiting it to a handful of critical systems. It said that by combining AI with its own proof automation technology, it can cut the time needed to generate proofs from months or years to hours or minutes.

&Truth is building on Lean, an open-source proof system, and other open-source technologies, and works with the Lean Focused Research Organization. It intends to release its foundational libraries as open source.

The company’s co-founders include Barrett, who is also a professor at Stanford University; Ilya Sergey of the National University of Singapore, where he founded the VERSE Lab; and Co-Founder, Co-CEO and Executive Chairman, Chris Hsu, previously CEO of Kilometre Capital and a Managing Director at Citadel Investment Group.

-- BERNAMA