Author: Asia PEVC

Avantor Recognized with Two Prestigious Awards at Asia-Pacific Biopharma Excellence Awards 2025

Avantor Inc., a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies industries, was recognized  with two prestigious awards at the recent Asia-Pacific Biopharma Excellence Awards (ABEA) 2025. The recognition underscores Avantor’s commitment to providing high-quality biopharma manufacturing solutions, addressing logistics challenges and optimizing supply chain.

Specifically, Avantor was recognized for the ABEA:

  • Best Bioprocessing Supplier Award: Single Use Systems
  • Best Bioprocessing Supplier Award: Chromatography

Single-use solutions enhance flexibility and speed in biopharma manufacturing. As the only open-architecture provider, Avantor offers end-to-end design, manufacturing, and logistics support worldwide. With a diverse portfolio of chromatography resins and advanced production technologies, these solutions enable the rapid and scalable delivery of high-quality therapies.

Narayana Rao Rapolu, VP & GM, BPS AMEA, Avantor said, “We are honored by these two awards recognizing Avantor and our team’s contributions to advancing biomanufacturing. As biologics grow more complex, Avantor remains dedicated to providing innovative chromatography and single-use solutions that enhance flexibility, efficiency, and cost-effectiveness globally. Additionally, by leveraging our wide range of chromatography resins, process chemicals, and reagents, our application scientists, and customer support centers are able to provide total solutions that improve process efficiency.”

Rajesh Bhagwat, Director, Strategy & Marketing, BPS AMEA, Avantor said, “Avantor’s expertise in delivering customized, scalable solutions drives innovation in biopharmaceutical manufacturing. Our advanced chromatography resins, including PROchievA and J.T.Baker® Bakerbond®, provide unique selectivity for next-generation therapies across the Asia-Pacific region. This award reinforces our commitment to supporting customers at every stage, from small-scale development to large-scale production.”

Rajesh Bhagwat, Director, Strategy & Marketing, BPS AMEA, Avantor, receiving the Best Bioprocessing Supplier Award – Chromatography at ABEA 2025


Stephanie Chan, Head of Biopharma, SEA, Avantor, receiving the Best Bioprocessing Supplier Award – Single Use Systems at ABEA 2025

The Asia-Pacific Biopharma Excellence Awards (ABEA) recognizes exceptional Asian bioprocessing, biologistic, clinical trials and aseptic fill and finish experts, organizations and technologies. It celebrates outstanding achievements and innovations in the bioprocessing industry across the Asia Pacific region. The awards are judged by a panel of industry experts, and winners are selected based on their contributions to the advancement of the bioprocessing industry.

About Avantor

Avantor® is a leading life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. We work side-by-side with customers at every step of the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and find us on LinkedIn, X (Twitter) and Facebook.

Regional Media Contact:
Swati Chhabra
Manager – Corporate Communications, AMEA
Avantor
91-9958-404-334
swati.chhabra@avantorsciences.com

Global Media Contact:
Eric Van Zanten
Head – External Communications
Avantor
1-610-529-6219
eric.vanzanten@avantorsciences.com

Dubai AI Festival returns for highly anticipated second edition as part of the inaugural Dubai AI Week

Building on the success of the inaugural edition, the Dubai AI Festival returns in 2025 to further demonstrate Dubai’s standing as a global leader in artificial intelligence and emerging technologies.

Held under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, UAE, the event will take place on 23 and 24 April 2025 at Madinat Jumeirah, Dubai. The Festival is organised by Dubai AI Campus, in partnership with DIFC, Minister of State for Artificial Intelligence, and Digital Economy & Remote Work Applications Office to explore AI’s transformative impact across industries.

As a significant event in Dubai AI Week, which was launched under the vision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Festival will bring together global AI leaders, innovators, and policymakers to explore advancements, investment opportunities, and regulatory frameworks shaping the future of AI.

AI is set to transform the global economy, with recent reports projecting a USD 15.7trn contribution by 2030, including USD 320bn in the Middle East. By 2033, the UAE’s AI market is projected to reach USD 46.33bn, while the machine learning market is expected to grow to USD 2.41bn. Experts predict over 80 per cent of enterprises will integrate AI-driven decision-making by 2026. Moreover, Dubai AI Campus is projected to grow beyond 100,000 square feet, host over 500 companies, create more than 3,000 jobs, and attract USD300 million in investments by 2028.

This year, key themes of the Dubai AI Festival include responsible AI deployment, transparency, and the future of work. Attendees will gain insights into AI’s impact while tackling the ethical challenges of its rapid integration.

His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority, said: “DIFC is delighted to be presenting one of the most significant events as part of Dubai AI Week and reflects our commitment to cement the city’s position as a global leader for technology, as well as enable future focused industries to harness the transformative power of AI. As adoption accelerates, the Dubai AI Festival will serve as the key platform for accelerating responsible and effective AI implementation across business, government, and society.”

Aligned with Dubai’s vision for innovation and economic growth, Dubai AI Festival will bring together 8,000+ industry leaders, policymakers, and innovators from 100+ countries to drive collaboration and investment in AI and emerging technologies.

The event will also include a dynamic exhibition, featuring cutting-edge AI innovations, alongside a start-up showcase where emerging companies will pitch their solutions to investors. The FutureTech World Cup, will showcase top AI start-ups, connecting innovators with investors seeking the next big breakthrough. Additionally, the Global FutureTech Innovation Programme will discover the brightest young minds from around the world harnessing AI to tackle real-world challenges. This combination of exhibitions, discussions, and competitions will drive collaboration and investment in the next wave of AI innovation.

Registrations for Dubai AI Festival are now open. For more details, visit: https://dubaiaifestival.com/. 

Key speakers

  • H.E. Essa Kazim, Governor, DIFC
  • H.E. Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications, Director General of the Prime Minister’s Office, United Arab Emirates.
  • Werner Vogels, Global VP & CTO, Amazon.
  • Parminder Bhatia, Chief AI Officer, GE HealthCare.
  • Bhavish Aggarwal, Founder & CEO, Ola.
  • Ronnie Sheth, CEO, SENEN GROUP.
  • Scott Harden, Global Chief Technology Officer, Global Innovation, Schneider Electric Innovation.
  • Thomas Pramotedham, CEO, Presight AI.
  • Hasan Fardan Al Fardan, Chief Executive Officer, Al Fardan Exchange.
  • Dr. Anirudh Devgan, President and Chief Executive Officer, Cadence Design Systems.
  • Dr. Amr Awadallah, Chief Executive Officer, Vectara.
  • Nigel Toon, CEO, Chairman and Co-Founder, Graphcore.
  • H.E. Salem Humaid Al Marri, Director General, Mohammed Bin Rashid Space Centre, Dubai, UAE.
  • Daniel Hulme, Chief AI Officer, WPP.

Dubai AI Festival Themes

  • AI for All: Everyday, Everywhere
  • Global AI Governance
  • Immersive Experience
  • Innovation & Ethics
  • Future of Work
  • AI Cornerstone
  • AI Literacy
  • Infrastructure & Investment

Sponsors and partners:

  • Dubai Future Foundation and DAMAC as Co-Hosts
  • Al Fardan Exchange as Founding Partner
  • Presight as the Industry Leader
  • SENEN as ‘Powered by’ Sponsor
  • Willbanah as Diamond Sponsor
  • The Sino-International Entrepreneurs Federation (SIEF) – Strategic China Partner  AtkinsRealis as Silver Sponsor.
  • Decoding Data Science as Association Partner
  • AMCHAM Dubai as Association Partner

About Dubai AI Week

Dubai AI Week, an initiative organised by the Dubai Centre for Artificial Intelligence, and overseen by the Dubai Future Foundation, connects AI research with real-world applications – bringing together experts, entrepreneurs, investors, and the public and private sectors to explore AI’s vast opportunities

About Dubai AI Festival

Dubai AI Festival, part of Dubai AI Week, is held under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, UAE. Organised by Dubai AI Campus, in strategic partnership with DIFC and the Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications Office, the Festival is a leading event reinforcing Dubai’s position as a global hub for artificial intelligence innovation.

This influential platform brings together industry leaders, experts, and visionaries to explore the transformative potential of AI across sectors such as finance, healthcare, and sustainability. Attendees will engage with pioneering AI applications and cutting-edge advancements shaping the future of business and technology.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn.

With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. 

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. 

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.  

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations. 

For further information, please visit our website: difc.ae, or follow us on LinkedIn and X @DIFC.

For media enquiries, please contact: 

Nivine William | Nisha CelinaBurson |
bursonglobal.comnivine.william@bursonglobal.com | nisha.celina@bursonglobal.com

Rasha Mezher | Dubai International Financial Centre Authority  
Manager, Marketing & Corporate
Communicationsrasha.mezher@difc.aec 

Shadi Dawi
Sr. Director – PR, Comms., & Media
shadi@tresconglobal.com  

Transforming Customer Experiences: Insights from Team Marksmen’s CX Transformation Conclave

In a world where customer experience (CX) is increasingly defining business success, the Bengaluru edition of Team Marksmen Network’s CX Transformation Conclave 2025 scheduled for 21st March, 2025 at Taj Vivanta, Bengaluru, proved to be a beacon of insight and innovation. Bringing together an array of industry stalwarts and forward-thinking leaders, the event delved into the transformative power of technology in shaping exceptional customer journeys, offering actionable strategies to future-proof businesses.


As India continues to climb the global CX maturity ranks — standing third worldwide and leading the Asia-Pacific region, according to an industry report — the conclave highlighted the immense potential that lies in crafting thoughtful, technology-enabled customer experiences.

However, despite 79% of Indian firms acknowledging CX as a revenue driver, only 17% have achieved the elusive goal of providing “exceptional” customer service. The event set out to bridge this gap, serving as a platform for industry experts to exchange ideas and chart a path toward customer-centric innovation.

The day featured a series of engaging keynote addresses, panel discussions, and interactive sessions that covered diverse facets of CX transformation. Attendees gained insights into the power of omnichannel strategies, where the seamless integration of digital and physical touchpoints ensures continuity and consistency in every customer interaction. The role of emerging technologies such as artificial intelligence, machine learning, and predictive analytics was also explored, with experts showcasing how these innovations can unlock personalised, real-time experiences that resonate deeply with consumers.

One of the key takeaways was the importance of balancing innovation with empathy. While technology offers endless possibilities for personalisation and efficiency, the human element remains crucial. Speakers emphasised that businesses must strive to forge genuine connections with customers, understanding their needs, emotions, and expectations to deliver experiences that are not just satisfying but truly memorable.

Throughout the event, the importance of measuring and optimising CX investments was underscored. Experts shared frameworks for tracking the impact of CX initiatives on key metrics such as customer lifetime value, retention rates, and revenue growth, ensuring that businesses can continually refine their approaches for maximum impact.

This industry-centric platform was brought to life by its industry partners, namely Presenting Partner NICE, AI Transformation Partner Exotel, and Associate Partner Ubona Technologies.

The CX Transformation Conclave also saw a select cross-section of eminent organisations lauded for their trailblazing CX efforts. This included:

  • Ather Energy Limited
  • Brick and Bolt – home and commercial construction
  • Cashfree Payments
  • Electrolux India Private Limited
  • Firstsource
  • Flipkart
  • Force Point
  • Infosys Finacle
  • ITC Infotech
  • ITC Limited
  • Kapiva Ayurveda
  • LTIMindtree
  • Prestige Group
  • Xiaomi Technology India Private Limited

Reflecting on the event’s impact, Rajesh Khubchandani, Co-Founder and MD, Team Marksmen Network, said, “The insights shared at the CX Transformation Conclave reaffirmed that customer experience is more than just a business strategy — it’s the heart of every successful organisation. Technology is an incredible enabler, but true transformation lies in embracing a customer-first mindset at every level. Our goal with this event was to bring together brilliant minds to explore the future of CX and empower businesses to harness innovation in creating meaningful, lasting connections with their customers.”

As the curtains closed on yet another successful edition of the CX Transformation Conclave, one thing was clear: the future of customer experience lies in a harmonious blend of technology, empathy, and continuous evolution. The insights shared and connections forged at the event are sure to inspire a new wave of customer-centric innovation, positioning businesses to thrive in the ever-evolving experience economy.

About Team Marksmen

Through an array of bespoke industry-centric knowledge platforms, using a variety of formats, such as Roundtables, Summits & Conferences, Workshops, and Recognition Ceremonies, Team Marksmen helps senior industry decision makers navigate through issues of critical importance and informs their world-view for better decision-making.

Team Marksmen has successfully executed more than 50 events that have featured 1500+ brands, helping businesses across industries create opportunities to engage audiences through on-ground and virtual experiences.  

The organisation empowers industry leaders by providing them with insights, ideas, and opportunities that fits their unique industry and context. Through content shared via its flagship website, Marksmen Daily, and print magazine ‘in Focus’ focused on business, leadership, and lifestyle, they help advance the practice of management. Meanwhile, through strategic initiatives like Marksmen Media, it helps organisations achieve their objectives through a plethora of bespoke digital and content strategies.

To know more about this unique initiative, write to us at contact@teammarksmen.com.

VMF Focuses on Addressing Marketers’ Top Priorities

Vibe Marketing Tech Fest will take place in Manchester on July 10, 2025, and brings industry leaders to answer the pressing questions on every marketer’s mind.

Convenience comes with price, and consumers agree. Consumers are discerning, they are willing to pay more for brands that align with their values, and share more data with brands that promise to offer more personalised experiences. Brands need to keep up or be left behind. The customer’s journey is anything but linear, and the marketer’s role to navigate these market forces is increasingly complex.

But there are more challenges–with inflationary pressures, marketing and advertising spend is under severe scrutiny. Business stakeholders are keen to know where marketing dollars are being spent, if they are being optimised, and how to fine-tune that growth engine.

The opportunity of artificial intelligence and generative AI to further alter the dynamics of the marketing leader’s role is a key concern. What does it mean for tomorrow’s leaders, and what skills does one need to drive business in the immediate future?

Vibe Marketing Tech Fest promises to address these burning questions and more. Founded in 2018, VMF is one of the world’s largest and most influential marketing tech conferences.

“The balance between privacy and personalisation is a burning issue that brands need to tackle head-on. Customers are poised to align with brands that are transparent and committed to fairness. We want to take on the tough questions that marketing leaders are faced with. VMF will explore how businesses can navigate this highly competitive landscape and set them up for long-term sustainable growth,” says Sanjay Swamy, Director at Martechvibe, the media company organising VMF.

VMF 2025 will cover themes like:

  • Overcoming barriers to deliver hyper-personalisation
  • Increasing ROI on martech investments
  • Maximising first part data in a privacy era 
  • Reducing churn, and driving higher CLV 

Speakers like Scott Brinker, Sir Martin Sorrell, Brian Solis, Neil Patel, Darell Alfonso, Fernando Machado, David Raab, Rob Bloom, and Steve Lok have delivered rich sessions in the previous editions of the summit.

This year’s speakers include David Raab, Owner of Raab Associates and Founder at CDP Institute, Aadil Mukhtar, Head of Marketing – Growth & Technology at United Rugby Championship, Adam Azor – EVP, Global Marketing at sportradar, Adam Mills – Head of Insight, Loyalty & Strategy at The Wine Society, Charlotte Flemming – Senior Marketing Manager at Prime Time, Ian Irving – Lead SEO & ASO Specialist at BBC, Jessica Cooke – Director of Media & Loyalty at Stonegate, Karla Zaldivar – Global Social Media Insights Manager at Booking.com, Mohamed Jhummun – Head of Personalisation at Scale at Pepsico, Jamie Allen – Head of Marketing at Mettle, Emily Latham – Head of Marketing Technology Portfolio at CarWow, Sabrina Godden-Tuma – Global Creative Director at Vodafone, Anne Lathowers – Head of Growth Marketing & Communication at E.ON One, Victoria Kerr – Head of Marketing, EMEA & APAC at Uber, Gareth Maritz – Director of Marketing – Change, MarTech, Partnerships, Measurement & Effectiveness at Flutter, and many more.

For more information, visit Vibe Marketing Tech Fest 2025.

About VMF

Founded in 2018, Vibe Marketing Tech Fest (VMF) is one of the world’s largest and most influential marketing tech conferences. It is the premier gathering for marketing, technology, product, CRM, revenue, and CX leaders. Designed to explore the latest trends, strategies, and cutting-edge tools shaping the marketing landscape, VMF serves as the ultimate platform where marketing pioneers connect with technology innovators.

Join industry leaders as they network, exchange insights, and redefine the future of marketing through the power of technology.

Media contact:
Mrunalini Pol
mrunalini@vibeprojects.com

Asia’s airports take the lead at inter airport Southeast Asia 2025 kicks off the conference, driving conversations on the future of airport operations and passenger experience

The much-anticipated inter airport Southeast Asia (IASEA) 2025 has officially opened today at Marina Bay Sands, Singapore, bringing together key airport industry stakeholders, global solution providers, and leading experts to shape the future of airport operations and passenger experience.

Themed “Airport Operations for Tomorrow”, conversations surrounding these topics are especially crucial as the aviation industry is witnessing rapid transformation and projected global passenger traffic to reach 19.5 billion by 2042.

Day 1 morning highlights: Keynotes and expert insights

The opening day of IASEA 2025 set an exciting tone with thought-provoking discussions and visionary insights from industry leaders. 

The fireside chat on ‘Reshaping Global Airport Operations’, led by Patrick Ky, CEO, International Centre for Aviation Innovation (ICAI) and moderated by Glory Wee, Senior Director, Aviation Development Group, Civil Aviation Authority Singapore (CAAS), discussed the fundamental shift they anticipate airport operations will face and how airports must evolve to balance the imperatives of efficiency, resilience, and sustainability. When asked to share one game-changing technology that will redefine the industry, Patrick Ky shared that “innovation that drives data sharing will be key”, but that would require many regulatory aspects and willingness from airports to share with each other. This would take time, but it is key to building a stronger future. 

“It is clear from our discussion that in order to reshape airport operations, it is not just about technological advancements but also about setting standards, data integrity, collaborations, and sharing best practices. Above all, the industry needs to work towards building trust with partners and eco-system players,” said Glory Wee, Senior Director, Aviation Development Group, Civil Aviation Authority Singapore (CAAS). 

At the show, leading airports, including Narita International Airport Corporation, and Airports Corporation of Vietnam (ACV), presented case studies highlighting their technological integrations, regional growth strategies, and efforts to meet rising demand while enhancing passenger experience. 

Shinichiro Motomiya, General Manager, Narita International Airport Corporation, presented the ‘New Narita Airport’ expansion project for the 2030s, which includes extending an existing runway, constructing a new runway, improving connectivity into the city, building a new cargo area, and consolidating this into a single terminal to accommodate the expected increase of passenger capacity from 57 to 75 million and cargo capacity from 2.4 to 3.5 million tons at Narita International Airport.

Separately, Vietnam’s aviation sector is experiencing rapid growth, with domestic travel projected to increase by over 20% from 2023 to 2027. To meet this soaring demand, Nguyen Dang Minh, Director of Airport Operations Department, Airports Corporation of Vietnam (ACV), shared ACV’s master plan to develop a robust and resilient airport network by 2050. By 2030, ACV will equip 30 airports across the country with a combined capacity to handle 275.9 million passengers and 4.1 million tons of cargo annually. By 2050, the network will expand to 33 airports (14 international and 19 domestic), ensuring that 97% of the population has access to an airport within 100 kilometres. The total investment for this extensive development is estimated to reach 420,000 billion VND.

At the heart of this transformation is the Long Thanh International Airport project, positioned as a key national aviation hub and one of the most ambitious infrastructure projects in the region. The project is divided into three phases:

  • Phase 1 (2025): Complete Terminal 1 with two runways and a cargo terminal, which will have the capacity to handle 25 million passengers.
  • Phase 2 (2025-2030): Construction of Terminal 2, which will increase the airport’s capacity to 50 million passengers.
  • Phase 3 (2035-2040): Two additional runways (T3 and T4 Terminals), reaching a total capacity of 100 million passengers.

This year’s IASEA 2025 welcomes a delegation of leaders from major international airports in Vietnam, including Long Thanh International Airport—one of the world’s most expensive greenfield airport projects—Noi Bai Airport, Danang Airport, Cat Bi Airport, Phu Quoc Airport, and Cam Ranh International Terminal.

Mr. Nguyen Cao Cuong, Deputy General Director, Airports Corporation of Vietnam (ACV), shared during his opening remarks, “Under the direction of the Prime Minister of Vietnam, ACV’s delegation at this expo is actively seeking high-quality, potential partners in technology, equipment, and airport operations to collaborate in accelerating the completion of Long Thanh, ensuring it meets the highest international standards. This show is not only a valuable opportunity for ACV to explore cutting-edge technologies and advanced management models but also a chance for all of us to discuss strategies for the collective growth of airport networks in Southeast Asia.”

What to look out for in IASEA 2025?

Over the course of three days, groundbreaking discussions and innovations are taking centre stage, redefining efficiency, sustainability, and automation in ground handling and airport logistics. 

Today marks a significant milestone for CW Aero Services as the company announces the signing of a Memorandum of Understanding (MOU) with Goldhofer AG to become a Hub for Goldhofer GSE product lines in the Asia Pacific region. As part of this strategic partnership, CW Aero Services will not only promote Goldhofer GSE products within Singapore, Malaysia, Brunei, and the Philippines but also provide comprehensive support services. This includes the commissioning of new GSE deliveries, repair and maintenance work, and the supply of spare parts, ensuring seamless and efficient operations for customers in the region. This collaboration represents more than just a contractual agreement—it is a commitment by CW Aero Services to drive the growth and adoption of Goldhofer products and services across the Asia Pacific. By leveraging its expertise and regional presence, CW Aero Services aims to make a meaningful impact on the ground support equipment landscape in the region.

Industry leaders are unveiling next-generation solutions designed to optimise airport operations, enhance energy efficiency, and streamline airside activities. One of the most highly anticipated product debuts comes from FastCharge GSE. The company launched the Enatel eGSE Charger – a cutting-edge charging solution designed specifically for electric ground support equipment (eGSE) – earlier this month, which was one of the first few times the product was showcased to the public. With a world-leading 97.6% efficiency, the charger minimises energy waste, optimises charging times, and reduces vehicle downtime, setting a new benchmark in airport electrification.

Meanwhile, Oshkosh AeroTech has introduced two cutting-edge electric ground support vehicles to the Asia market at IASEA 2025 – the LEKTRO 88i electric aircraft tug and the B80 electric pushback tractor – that are designed to enhance airport efficiency, sustainability, safety, and reduce operational costs. The B80 pushback tractor, specifically, was built for heavy-duty operations, delivering high torque, all-wheel drive, and advanced energy management for efficient pushbacks of both narrow-body and wide-body aircraft. 

As the event unfolds, industry professionals can expect more exclusive product showcases, expert-led conference sessions, and networking opportunities that shape the future of airport operations across Asia.

All trade professionals attending inter airport Southeast Asia 2025 will be granted free access to the exhibition and conference floors. For the latest information on inter airport Southeast Asia, please visit the event website, LinkedIn, or Facebook pages. 

About inter airport Southeast Asia

inter airport Southeast Asia influences and accelerates the transformation of the airport industry in Asia by crafting a unique, 3-day airport trade show for the region.

Every odd year, buyers and decision makers from the airports, airlines, ground handlers and the entire Airport community in Asia attend inter airport Southeast Asia to source and experience from the most diverse selection of innovations, technology and equipment for airport terminals and ramp operations.

Whatever your strategy or needs – this is the place to be for business, friendship and new trends.

25-27 March 2025
Marina Bay Sands, Singapore
www.interairport-southeastasia.com

About RX  

RX is a global leader in events and exhibitions, leveraging industry expertise, data, and technology to build businesses for individuals, communities, and organisations. With a presence in 25 countries across 42 industry sectors, RX hosts approximately 350 events annually. RX is committed to creating an inclusive work environment for all our people.  RX empowers businesses to thrive by leveraging data-driven insights and digital solutions. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. For more information, visit www.rxglobal.com. 

About RELX

RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 36,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.

*Note: Current market capitalisation can be found at http://www.relx.com/investors

Media contacts (on behalf of RX)
Carolyn Kok (carolyn.kok@fifthring.com)
Chloe Lim (chloe.lim@fifthring.com)

[Media Alert] Say Goodbye to Brain Fog and Digestive Woes: Recharge with LAC

In today’s fast-paced world, many individuals find themselves grappling with overwhelming stress and its accompanying challenges. The constant pressures of modern life can leave individuals feeling mentally and physically drained.

Especially in Singapore, the hustle culture and rising cost of living contributes heavily to this. A recent survey found that nearly 90% of Singaporeans experience chronic stress, driven by issues like financial concerns and a general uncertainty about the future. This relentless pace, paired with the constant pressure to meet expectations, continues to take a toll on both mental and physical health, even as the new year begins.

Prolonged stress can, however, impact cognitive functions leading to brain fog, memory loss and inflammation, while the digestive system may struggle to keep up with the demands of life. When the mind is overloaded, it becomes difficult to focus, make decisions, or retain information, leading to decreased productivity and increased frustracalention. Furthermore, prolonged stress can disrupt the gut-brain connection, triggering digestive issues such as bloating, indigestion, and inflammation, which hinder the body’s ability to absorb essential nutrients.

LAC (pronounced as L-A-C) aims to help individuals navigate these transitions with mindful practices and targeted health solutions. For individuals grappling with cognitive or digestive issues, LAC recommends its BrainSpeed® PS and Probiotic Complex 25 Billion CFU – Daily Support to help support mental and digestive health.

Formulated with high phosphatidylserine (PS), LAC BrainSpeed® PS promotes brain health, enhances focus and alertness, and helps individuals cope with stress more effectively, resulting in overall work productivity. This supplement helps to regulate high stress levels, balances mood and promotes cognitive functions for individuals who are seeking mental clarity.

With over 25 Billion CFUs of active probiotics and 12 strains of friendly bacteria, Probiotic Complex 25 Billion CFU – Daily Support helps to effectively maintain probiotic levels and boosts the immune system, reducing the risks of inflammation in the gut, maintaining a healthy balance of bacteria in the body.

LAC also offers solutions for children to support optimal health and overall well-being. LAC BrainSpeed® Junior is specially formulated with DHA to support cognitive development and mental clarity, allowing children to stay focused in their schools. On the other hand, LAC Probiotic Junior contains 12.5 Billion CFU of Probiotics that strengthens the immune system and absorbs essential nutrients effectively.

You may access the high-resolution visuals of the products through the media kit here.

Vibe Marketing Tech Fest 2025 Will Focus on Convergence & Conversions

Vibe Marketing Tech Fest – the Middle East’s largest marketing technology summit, will take place on April 23 and 24, 2025, in Dubai, UAE.

Digitalisation has revolutionised how customers engage with brands, transforming the traditional linear funnel into an intricate web of touchpoints. Today’s customer journey is dynamic, interconnected, and far from predictable.

Marketers must now navigate a landscape where customer expectations are higher, attention spans are shorter, and engagement spans across multiple platforms and moments.

The 16th global edition of  Vibe Marketing Tech Fest (VMF) will delve into these challenges, offering insights, strategies, and Martech solutions that empower modern marketers to adapt, innovate, and thrive in this new reality.

The theme will focus on the convergence of marketing technologies, ad technologies, and ad journeys and explore how marketers need to adapt, be dynamic, and incorporate customer-centricity into their approach.

Marketers must leverage the power of real-time data and technology to comprehend where a customer changes trajectory and what influences their decisions in doing so. 

“Customers are discerning and any disruption in convenience can hamper the path to conversions. Brands must adapt to fragmented and dynamic paths to purchase, driven by real-time data and emerging AI capabilities. Vibe Marketing Tech Fest puts the spotlight on the consumer, and how brands can navigate the changing technology landscape to deliver this convenience. With this edition, we have added themes like app marketing, ad tech integration, growth, digital marketing and retail media networks,” said Sanjay Swamy, Director at Martechvibe.

Top conversations at VMF 2025 will cover:

  • Engagement, Apps & Social
  • AI, Automation & Tech
  • Martech, Adtech & Data
  • Brand Growth & Retention

The conversations at VMF tackle real-world challenges affecting marketers today, with a look at preparing for possible scenarios in the near future. Rajesh Verma, General Manager, Middle East, Epsilon said, “We need forward-facing platforms like these to help dispel the myths that surround marketing and tech in the Middle East. Take retail media as an example; many believe retail media strategies rely solely on online behaviour and demographics, overlooking the power of transactional data, or that retail media only occurs on a retailer’s website. These gatherings provide an opportunity to educate marketers on the true potential of new media opportunities, and how to avoid the pitfalls. They foster important connections that place attendees in a much better position to navigate the complexities of the evolving landscape.”

Richard Shotton, Founder of Astroten, a behavioural science consultancy and author of The Choice Factory and The Illusion of Choice, will deliver the keynote on how human decision-making remains remarkably constant in an evolving technology landscape in his session titled The Enduring Power of Behavioural Science. “It’s increasingly common to see brands and agencies incorporate consumer psychology as part of their process, although it’s not often systematically applied. There’s still an over-reliance on intuition, or when research happens, it’s based on claimed data. For example, creative routes are tested by asking people which ads they think would make them purchase… It’s not that respondents deliberately mislead researchers, just that nobody is aware of all the elements that influence their decisions.  When asked, people don’t — in fact, can’t — tell you what motivates them. So, findings from a lot of market research can never uncover the whole truth. There’s still more headroom to align research with genuine motivation through the application of behavioural science.”

Speakers like Scott Brinker, Sir Martin Sorrell, Brian Solis, Neil Patel, Darell Alfonso, Fernando Machado, David Raab, Rob Bloom, and Steve Lok have delivered rich sessions in the previous editions of the summit.

This year’s speakers include Alexis Jean Baptiste – Chief Data & Analytics Officer | L’Oréal, James Dutton – Chief Product Officer  | UM MENAT, Mai Cheblak – Vice President Group Media & Social | Emirates NBD, Marwen Ben Messaoud – Head of Growth Middle East, Africa, South Asia |  Spotify, Matthew Horobin – Associate Director Customer Experience | Modon Holdings, Mustafa Bohra – Associate Director – Martech and Analytics | Careem, Nandakumar Vijayan – Global Director, Marketing & Communications | LuLu Group International, Oleg Nesterenko – Chief Marketing Officer | Storytel, Charlotte Davis | Acting Director of Retail Media | Majid Al Futtaim, Sohail Nawaz MBE –  Head of Retail Media | Landmark Group, Sevgi Gur – Chief Marketing Officer | Property Finder, Rishi Gupta – Regional Director: Middle East & Africa | Nothing, and many more.

For more information, visit Vibe Marketing Tech Fest 2025.

About VMF

Founded in 2018, Vibe Marketing Tech Fest (VMF) is one of the world’s largest and most influential marketing tech conferences. It is the premier gathering for marketing, technology, product, CRM, revenue, and CX leaders. Designed to explore the latest trends, strategies, and cutting-edge tools shaping the marketing landscape, VMF serves as the ultimate platform where marketing pioneers connect with technology innovators.

Join industry leaders as they network, exchange insights, and redefine the future of marketing through the power of technology.

Media contact:
Mrunalini Pol
mrunalini@vibeprojects.com 

The 15th PropertyGuru Asia Property Awards (Singapore) present new categories amid resilient consumer sentiment

The 15th edition of the PropertyGuru Asia Property Awards (Singapore) is now open for entries. To commemorate the milestone, the awards programme has been revitalised with the addition of new competitive categories as well as a new venue for 2025.

The 15th edition of the PropertyGuru Asia Property Awards (Singapore) is now open for entries, with submissions accepted until 5 September.

The latest search for Singapore’s finest real estate unfolds against a backdrop of market resilience and stability. Strong property demand persists despite ongoing challenges faced by property seekers, according to the PropertyGuru Singapore Consumer Sentiment Study H2 2024.

The black-tie gala dinner and awards ceremony will be held for the first time at Andaz Singapore. Key dates for the 2025 edition are:

  • 5 September 2025 – Entries Close
  • 22-26 September 2025 – Site Inspections
  • 29 September 2025 – Final Judging
  • 31 October 2025 – Gala Dinner and Awards Ceremony in Singapore
  • 12 December 2025 – Regional Grand Final Gala Dinner and Awards Presentation in Bangkok, Thailand 

The 15th PropertyGuru Asia Property Awards (Singapore) programme is part of the broader PropertyGuru Asia Property Awards series, organised by PropertyGuru Group, Southeast Asia’s leading property technology company.

Stable sentiment

Singapore’s real estate market continues to exhibit resilience, with one in two consumers intending to buy a property within the next five years, according to the PropertyGuru Singapore Consumer Sentiment Study H2 2024.

The Sentiment Index—which measures current real estate satisfaction and overall climate, housing affordability, interest rates, perceived government efforts, and property prices—remained stable at 43 points. This represents a slight decrease from the H1 2024 report, which recorded 44 points.

This year’s awards mark the debut of several new categories, including Best Renovated Commercial Development; Best Renovated Residential Development; and Best Sustainable Development.


Jules Kay, general manager of PropertyGuru Asia Property Awards and Events

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “We are proud to launch the 15th edition of our Awards series in Singapore, presenting well established and new accolades that underline its reputation as one of the greenest and most forward-thinking real estate markets in Asia Pacific. Our 2025 awards aim to recognise an even richer range of options for nature-inspired living and urban comforts in Singapore, illustrating a vision of what tomorrow’s cities can achieve. We are optimistic that demand for quality will stay resilient despite market challenges as we honour more projects that benefit Singapore’s diverse communities and safeguard its environment.”


Kristin Thorsteins, co-founder and managing partner, Portman Investment Pte Ltd, and chairperson of the PropertyGuru Asia Property Awards (Singapore), with 2024 Best Developer, UOL Group Limited

Kristin Thorsteins, co-founder and managing partner, Portman Investment Pte Ltd, and chairperson of the PropertyGuru Asia Property Awards (Singapore), said: “At the 2025 PropertyGuru Asia Property Awards (Singapore), developers have the opportunity to present their achievements on a distinguished platform, showcasing them to the industry at large. Continuously adapting with the times, the awards honour companies and projects that excel not only in raising design and development standards but also in advancing sustainability, lifting communities, and improving the urban fabric of Singapore.”

Thorsteins leads an independent panel of judges, comprising experts across various segments of the Singapore real estate industry. As the official supervisor, HLB Singapore Foo Kon Tan, part of “2024 Network of the Year” winner HLB International, will maintain the fairness, transparency, and credibility of the selection process.


Winners of the 2025 PropertyGuru Asia Property Awards (Singapore) may be eligible to compete for the Best in Asia titles at the 20th PropertyGuru Asia Property Awards Grand Final in December. 

Historic edition

Established in 2005, the PropertyGuru Asia Property Awards series celebrates its historic 20th edition this year. The series has expanded over the decades to include markets such as the Middle East, Mainland China, Hong Kong, Macau, Japan, Australia, India, Sri Lanka, Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Singapore.

Winners of the 2025 PropertyGuru Asia Property Awards (Singapore) may be eligible to compete for the Best in Asia titles at the 20th PropertyGuru Asia Property Awards Grand Final in December.

At the 2024 Grand Final, eight Best in Asia titles were presented to outstanding companies from Singapore: UOL Group Limited and Singapore Land Group Limited, Pan Pacific Hotels Group, GuocoLand and Hong Leong Holdings Limited, TID Pte. Ltd., and FRX Capital Private Limited.

Organised by PropertyGuru Group, the 15th Annual PropertyGuru Asia Property Awards (Singapore) are supported by official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; media partners D+A Magazine, SquareRooms, and Tatler Asia Homes; and official supervisor HLB.                  

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.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 2025, 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 2025. 

For more information, please visit AsiaPropertyAwards.com.

ABOUT PROPERTYGURU GROUP

PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 31 million property seekers2 to connect with over 50,000 agents monthly3 to find their dream home. PropertyGuru empowers property seekers with more than 2.1 million real estate listings4, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 17 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 core markets.  

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

(1) Based on SimilarWeb data between January 2024 and June 2024.
(2) Based on Google Analytics data between January 2024 and June 2024.
(3) Based on data between April 2024 and June 2024.
(4) Based on data between January 2024 and June 2024.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com   

Media & Partnerships:
Nate Dacua, Senior Manager, Media and Marketing Services
M: +66 92 701 2510
E: nate@propertyguru.com

Sales & Nominations:
Alicia Loh, Awards Manager (Singapore)
M: +65 8382 0078
E: alicia@propertyguru.com.sg 

The 15th PropertyGuru Asia Property Awards (Singapore) present new categories amid resilient consumer sentiment

The 15th edition of the PropertyGuru Asia Property Awards (Singapore) is now open for entries. To commemorate the milestone, the awards programme has been revitalised with the addition of new competitive categories as well as a new venue for 2025.

The 15th edition of the PropertyGuru Asia Property Awards (Singapore) is now open for entries, with submissions accepted until 5 September.

The latest search for Singapore’s finest real estate unfolds against a backdrop of market resilience and stability. Strong property demand persists despite ongoing challenges faced by property seekers, according to the PropertyGuru Singapore Consumer Sentiment Study H2 2024.

The black-tie gala dinner and awards ceremony will be held for the first time at Andaz Singapore. Key dates for the 2025 edition are:

  • 5 September 2025 – Entries Close
  • 22-26 September 2025 – Site Inspections
  • 29 September 2025 – Final Judging
  • 31 October 2025 – Gala Dinner and Awards Ceremony in Singapore
  • 12 December 2025 – Regional Grand Final Gala Dinner and Awards Presentation in Bangkok, Thailand 

The 15th PropertyGuru Asia Property Awards (Singapore) programme is part of the broader PropertyGuru Asia Property Awards series, organised by PropertyGuru Group, Southeast Asia’s leading property technology company.

Stable sentiment

Singapore’s real estate market continues to exhibit resilience, with one in two consumers intending to buy a property within the next five years, according to the PropertyGuru Singapore Consumer Sentiment Study H2 2024.

The Sentiment Index—which measures current real estate satisfaction and overall climate, housing affordability, interest rates, perceived government efforts, and property prices—remained stable at 43 points. This represents a slight decrease from the H1 2024 report, which recorded 44 points.

This year’s awards mark the debut of several new categories, including Best Renovated Commercial Development; Best Renovated Residential Development; and Best Sustainable Development.


Jules Kay, general manager of PropertyGuru Asia Property Awards and Events

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “We are proud to launch the 15th edition of our Awards series in Singapore, presenting well established and new accolades that underline its reputation as one of the greenest and most forward-thinking real estate markets in Asia Pacific. Our 2025 awards aim to recognise an even richer range of options for nature-inspired living and urban comforts in Singapore, illustrating a vision of what tomorrow’s cities can achieve. We are optimistic that demand for quality will stay resilient despite market challenges as we honour more projects that benefit Singapore’s diverse communities and safeguard its environment.”


Kristin Thorsteins, co-founder and managing partner, Portman Investment Pte Ltd, and chairperson of the PropertyGuru Asia Property Awards (Singapore), with 2024 Best Developer, UOL Group Limited

Kristin Thorsteins, co-founder and managing partner, Portman Investment Pte Ltd, and chairperson of the PropertyGuru Asia Property Awards (Singapore), said: “At the 2025 PropertyGuru Asia Property Awards (Singapore), developers have the opportunity to present their achievements on a distinguished platform, showcasing them to the industry at large. Continuously adapting with the times, the awards honour companies and projects that excel not only in raising design and development standards but also in advancing sustainability, lifting communities, and improving the urban fabric of Singapore.”

Thorsteins leads an independent panel of judges, comprising experts across various segments of the Singapore real estate industry. As the official supervisor, HLB Singapore Foo Kon Tan, part of “2024 Network of the Year” winner HLB International, will maintain the fairness, transparency, and credibility of the selection process.


Winners of the 2025 PropertyGuru Asia Property Awards (Singapore) may be eligible to compete for the Best in Asia titles at the 20th PropertyGuru Asia Property Awards Grand Final in December. 

Historic edition

Established in 2005, the PropertyGuru Asia Property Awards series celebrates its historic 20th edition this year. The series has expanded over the decades to include markets such as the Middle East, Mainland China, Hong Kong, Macau, Japan, Australia, India, Sri Lanka, Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Singapore.

Winners of the 2025 PropertyGuru Asia Property Awards (Singapore) may be eligible to compete for the Best in Asia titles at the 20th PropertyGuru Asia Property Awards Grand Final in December.

At the 2024 Grand Final, eight Best in Asia titles were presented to outstanding companies from Singapore: UOL Group Limited and Singapore Land Group Limited, Pan Pacific Hotels Group, GuocoLand and Hong Leong Holdings Limited, TID Pte. Ltd., and FRX Capital Private Limited.

Organised by PropertyGuru Group, the 15th Annual PropertyGuru Asia Property Awards (Singapore) are supported by official portal partner PropertyGuru.com.sg; official magazine Property Report by PropertyGuru; media partners D+A Magazine, SquareRooms, and Tatler Asia Homes; and official supervisor HLB.                  

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.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 2025, 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 2025. 

For more information, please visit AsiaPropertyAwards.com.

ABOUT PROPERTYGURU GROUP

PropertyGuru is Southeast Asia’s leading1 PropTech company, and the preferred destination for over 31 million property seekers2 to connect with over 50,000 agents monthly3 to find their dream home. PropertyGuru empowers property seekers with more than 2.1 million real estate listings4, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then, PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 17 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 core markets.  

For more information, please visit: PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

(1) Based on SimilarWeb data between January 2024 and June 2024.
(2) Based on Google Analytics data between January 2024 and June 2024.
(3) Based on data between April 2024 and June 2024.
(4) Based on data between January 2024 and June 2024.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com   

Media & Partnerships:
Nate Dacua, Senior Manager, Media and Marketing Services
M: +66 92 701 2510
E: nate@propertyguru.com

Sales & Nominations:
Alicia Loh, Awards Manager (Singapore)
M: +65 8382 0078
E: alicia@propertyguru.com.sg 

Wintermar Reports Results For The Full Year Ended 31 December 2024

Wintermar’s Operating Profit jumped by 101.5%YOY to US$17.8 million on the back of a 13.5%YOY increase in Total Revenue to US$82.4million, from higher charter rates and a better fleet mix of DP (Dynamic Positioning) vessels.

Owned Vessel Division

Owned Vessel Revenue rose by 28.9%YOY to US$62.1million for FY2024 from US$48.2million in FY2023. This was driven by a larger number of DP vessels in the fleet which pushed the average charter rates for 2024 up by 26% as compared to the average charter rate in 2023.  These factors contributed to a 106.2%YOY jump in Gross Profit from Owned Vessels to US$22.4million for FY2024 with vessel utilization in 2024 at 66%, slightly lower than 68% for 2023.

Owned Vessel gross margin has increased to 36.1% in FY2024 as compared to 22.6% in FY2023, reflecting a strong increase in charter rates as well as a better fleet exposure to the DP segment. Our 5150BHP to 8000BHP AHTS as well as PSVs experienced a higher charter rate boost than the rest of the fleet due to rising demand for deeper water drilling projects, which require DP capability.

Vessel utilization fell in 4Q2024 to 63% compared to 67% in 3Q2024. Some vessels completed spot contracts while the monsoon season in Brunei also impacted utilization.   These vessels underwent maintenance and will start operations again in mid 1Q2025.  The additional PSV which was delivered in October 2024 did not commence operations until January 2025.                    

Chartering Division and Other Services

Gross Profit from Chartering rose by 28.7%YOY to US$1.4million, despite slightly lower revenue of US$13.7million, reflecting improved margins. Gross Profit from Other Services recorded a decline of 16.7%YOY to US$2.6million upon the completion of a contract. 

Total Revenue for FY2024 rose 13.5% YOY to US$82.4 million with Total Gross Profit of US$26.4 million (+75.5%YOY) for FY2024 as compared to Total Revenue of US$72.6 million and Total Gross Profit of US$15.0 million in FY2023.

Direct Expenses and Gross Profit

Owned Vessel Direct expenses rose by 6.4% YOY to US$39.7million, largely from higher maintenance costs, which rose by US$7.5million (+21.8%YOY), in additional to higher crewing costs of US$10.3million (+10.5%YOY).

The higher maintenance and crewing costs are aligned with operating a fleet of higher value vessels and a larger proportion of operations outside of Indonesia. Depreciation costs rose by 5.4%YOY to US$13.4million as the number of operational vessels increased. Bunker costs rose by 7.2%YOY to US$3.3million due to higher oil prices and a larger number of vessels mobilized in and out of Indonesia.


Indirect Expenses and Operating Profit

Indirect Expenses rose by 38.5%YOY to US$8.6million, with Staff Salary contributing US$1million to the increase, reflecting a focus on strengthening the operations, technical and IT teams to manage a higher value fleet, as well as the payment of employee bonuses in line with the strong operational performance. 

As the Company now participates in more international tenders, there has been an increase in marketing expenses by 164.8%YOY to US$0.66million.

Operating margins jumped to 21.6% for FY2024 compared to 12.2% in 2023, as Operating Profit doubled to US$17.8million for FY2024, reflecting the impact of operational gearing on the Company’s profitability as charter rates begin to rise.

Other Income, Expenses and Net Attributable Profit

Interest Expenses and financial charges fell by 4.2%YOY to US$1.2million while interest income rose by 582%YOY to US$0.46million, as the Company continued to accumulate cash flow and pay down debt. 

Equity in net earnings of associates jumped to US$2.4million for FY2024 from US$0.55million in FY2023, with strong contribution from associated companies with OSV operations which also benefitted from the strong industry upturn.

The sale of fixed assets contributed a one-off gain of US$16.1million, largely from the sale of an older PSV in the first half of 2024. Due to the strengthening of the A, the Company recorded a FX loss of US$0.47million mainly from Rupiah denominated trade receivables.

Non-controlling interest was significantly higher at US$9.8million compared to a small loss of US$0.04million in FY2023. The largest contributor to this was from the gain on sale of fixed asset as well as the stronger earnings from the PSV business which is 51% controlled by Wintermar.

Net Attributable Profit to shareholders for FY2024 was US$22.5million, a significant jump of 237% compared to US$6.7million in FY2023. Excluding the gain on sale of Vessel, the underlying core profit increased by 126.5%YOY to US$15.1million compared to US$6.6 million in FY2023.

FY2024 EBITDA increased by 44.8% YOY to US$31.5million.

Industry Outlook

The recent months have been characterized by rising global uncertainty arising from dramatic policy changes in the US, the prospect of tariff wars and the fragile ceasefire in Gaza. 

These upheavals have not derailed the underlying momentum in the upstream investment cycle, which seems to still be unfolding as major oil companies have started to roll back renewable energy projects in favour of investing in oil and gas. The oil price has corrected from previous highs but is forecasted to stay firm in the next couple of years from OPEC+ intervention.

In Indonesia, the government remains committed to the various major deepwater projects which have received investment approval in the past 12 months. SE Asian charter rates corrected slightly at the end of 2024 after a very sharp spike up in the past 12 months.  However, there are several  Engineering Procurement (EPCI) projects which require  OSV for short-term projects, which accounts for a more volatile utilization of the OSV fleet.                   

Business Prospects

Despite a slower 4Q2024, we are still optimistic on the outlook for OSVs in Indonesia as there are several approved deepwater drilling projects particularly in the Makassar strait and the Andaman sea which are likely to commence in 2H2025 to 2026.  Some EPCI contracts have been awarded and tendering for the marine spread is ongoing for 2H2025 commencement. All this points to continued short term contracts, by virtue of where we are at this early stage of the drilling cycle, and we expect continued volatility in utilization rates while charter rates should remain firm.

Wintermar took delivery of 3 units of newbuilt Heavy Load Barges (HLB) between December 2024 to February 2025.  The vessels are in the process of conversion to Indonesian flag and will be ready to work by 2Q2025.  In addition, the Company has ordered a newbuilt Platform Supply Vessel for delivery in 2026, which will enhance the DP capability of the fleet and reduce average age of the fleet.  These acquisitions have been funded through internal cash flow and will be refinanced upon delivery.  In 2H2025, another reactivated PSV is expected to be operational, adding to our capacity for 2025.

Contracts on hand as at end February 2025 amounted to US$66million.                

About Wintermar Offshore Marine Group

Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 48 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by experienced Indonesian crew, tracked by satellite systems and monitored in real-time by shore-based Vessel Teams.

Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd’s Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

For further information, please contact:
Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel (62-21) 530 5201 Ext 401
Email: investor_relations@wintermar.com 

DISCLAIMER
Certain statements made in this publication involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. Certain statements relating to business and operations of PT Wintermar Offshore Marine Tbk and Subsidiaries (the Company) are based on management’s expectations, estimates and projections. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Certain statements are based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements. The Company makes no commitment, and disclaims any duty, to update or revise any of these statements. This publication is for informational purposes only and is not intended as a solicitation or offering of securities in any jurisdiction. The information contained in this publication is not intended to qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to the Company and should not be relied upon for the purpose of making investment decisions concerning any securities of the Company.