Treasury Intelligence Solutions (TIS), a leading cloud-based platform for payments and cash management, is future-proofing organizations with specialized translation services in the wake of the recent November 2025 ISO 20022 deadline. A major turning point for the financial industry, SWIFT now requires banks to move their cross-border payment messages to ISO 20022. As a result, treasury teams are already seeing differences in how their banks send and receive payment information. Adapting to these changes will require a strategic approach to modernizing systems and processes.
ISO 20022 replaces a patchwork of older standards with a single approach to structuring payment data. The new universal standard is designed to reduce confusion across markets, improve data quality, and support the level of transparency that regulators around the globe now expect.
Moving to ISO 20022 payments takes time and strategic vision, especially when legacy systems, ERP, and payment systems were not built with structured data in mind. Updating those requires planning and coordination across several internal teams.
“ISO 20022 is a major industry shift, but it shouldn’t disrupt the way companies operate day-to-day,” said Wouter De Bie, Chief Technology Officer at TIS. “Our priority is making this transition seamless. By leveraging our platform’s ability to translate payment files into bank-specific formats and automatically populate ISO-required fields, we give treasury teams the flexibility to adapt at their own pace. This approach ensures stability, reduces risk, and empowers organizations to meet new standards without costly system overhauls or last-minute fixes.”
The TIS platform leverages more than 140,000 bank-specific profiles to provide comprehensive coverage of ISO bank formats. In addition, an innovative AI-powered solution addresses ISO-specific requirements such as structured address information for corporate beneficiaries. Companies that begin now to update their data and payment workflows will be better prepared for the larger changes still ahead. Those that don’t may face frustrating problems like message truncation, rejected payments, and slower processing times as unstructured formats are phased out.
“We’re already seeing the benefits of a proactive approach to ISO 20022,” said Jon Paquette, Chief of Strategy at TIS. “Organizations using our platform have implemented early bank-driven changes without payment failures or costly rework and are also leveraging our statement format conversion capabilities to avoid disruptions in reconciliation and cash applications as banks sunset MT formats and introduce CAMT. This proves that with the right tools, companies can prepare for full ISO adoption on their own timelines – maintaining stability while meeting evolving standards.”
About TIS TIS helps CFOs, Treasurers, and Finance teams transform their global cash flow, liquidity, and payment functions. Since 2010, our award-winning cloud platform and best-in-class service model have empowered the entire office of the CFO to collaborate more effectively and attain maximum efficiency, automation, and control. TIS enables users to achieve superior performance in key areas surrounding cash forecasting, working capital, outbound payments, financial messaging, fraud prevention, payment compliance, and more.
To learn how TIS can support your ISO 20022 transition, contact us today.
Ngernturbo PCL (TURBO), a retail financial service provider, is set to drive its growth following the Company’s first day of trading on the Stock Exchange of Thailand (SET: TURBO). TURBO highlights the exponential growth in its loan portfolio, surmounting all economic hurdles for profitability exceeding the industry average. The Company is also determined to expand its branch network to at least 1,457 locations by 2029, in parallel with the development of new financial products and services. This plan is expected to further enhance the Company’s overall loan portfolio and contribute to continued growth. The objective for TURBO is to become a leading national retail financial service provider.
Mr. Sutach Ruangsuttipap, CEO of TURBO, remarked, “While the Company’s shares began trading on the Stock Exchange of Thailand (SET) on Sept 30, in the FIN (Financial & Securities) Sector, and the FINCIAL (Financial) industry group under the symbol ‘TURBO’, the listing follows a successful IPO (initial public offering) of 537 million shares at 1.50 baht per share, which attracted overwhelming interest from both institutional and retail investors. This success reflects confidence in TURBO’s business operations and growth potential, which will make us one of the most sought-after stocks upon listing.”
Following the SET listing, TURBO aims to build on its success, becoming a leading national retail financial service provider, and achieving strong growth through several key strategies. 1. Building the brand as the No.1 choice for customers, with the emphasis on speed, convenience, and quality of service to ensure a high level of customer satisfaction and word-of-mouth referrals. 2. Developing the Company’s IT systems. TURBO maintains a strategy of building on its in-house technology team which can quickly develop specific IT systems most suitable for the organization. The Company prioritizes the adoption of artificial intelligence (AI) technologies to enhance efficiency in every work process. 3. Enhancing customer convenience by expanding branch coverage nationwide, with the aim of establishing no less than 1,475 branches by the year 2029. The plan is to develop better access to comprehensive financial products to ensure more extensive coverage. 4. Developing a diverse range of products to meet the differentiated needs of customers, such as increasing the types of loan collateral, expanding insurance product lines, and increasing the number of insurance partners, etc.
“I am confident that after our listing on the SET, TURBO will achieve stronger growth and generate more sustainable returns for shareholders, driven by customer-centric financial services, customer satisfaction, word-of-mouth referrals, together with the use of specially developed IT systems. All these processes will help to ensure that TURBO will be able to quickly adapt to any situation and maintain low operating costs in the long term,” Mr. Sutach added.
In 2023 and 2024 fiscal years, the Group’s total revenues were 2,430.7 million baht and 3,033.2 million baht. That translated into a 24.8% increase, with net profits of 131.7 million baht and 141.6 million baht, a 7.5% annual increase.
For the first six months (January – June) of 2025, combined revenue reached 1,517.6 million baht, a 3.7% increase, and net profit was 235.9 million baht, or a 285.8% increase compared to the previous year. As of June 30, 2025, the net interest margin was 19.8%, higher than the industry average(1) of 15.1%. Moreover, the net income after deducting expected credit losses to net loan receivables averaged 21.8%, higher than the industry average of 18.0%.
Mr. Paiboon Nalinthrangkurn, CEO of TISCO Securities Co Ltd, the lead-underwriter, and representative of TISCO Bank PCL, stated that TURBO has high growth potential, driven by the non-financial institutional retail loan market scenario, which has grown significantly from 220 billion baht in 2018 to 630 billion baht in Q1 2025. This is equivalent to an compound annual growth rate (CAGR) of 18.6%, higher than the commercial bank personal loan market which grew from 170 billion baht to 220 billion baht during the same period, or a CAGR of 4.5%. This reflects the continued growth in demand for retail loans from middle- to low-income customers who have limited or no access to commercial financial services, and make up a large segment of the population.
Positive factors across the industry are also driving TURBO’s growth in interest from loans, its core business, to annual returns of 40.8% from 2022 to 2024, while the Group’s revenue from insurance brokerage and life insurance brokerage grew 54.3% annually from 2020 to 2024. The Company’s strong foundation and solid long-erm growth potential will enable TURBO to become a quality stocks in the Thai capital market.
Mr. Pongsak Phrukpaisal, Managing Director of Kasikorn Securities PCL, the lead-underwriter, said he was confident that TURBO would be a growth stock that generates returns for investors. This is attributable to the Company’s quick and convenient services, customer empathy, and the team comprised of new generation of professionals with expertise in finance and digital technology. The Company utilizes technology to drive the organization in every process for efficient operations, resulting in impressive results and a high 20.7% word-of-mouth referral rate among customers. This led to exponential growth in the loan portfolio of 31.5% per year between 2020 and Q2 2025. Furthermore, the Company has the opportunity to expand its loan portfolio significantly despite being a relatively new operator with an average branch age of only 4.1 years.
(1) A group of 5 SET-listed industry operators.
Press release by MT Multimedia Co Ltd for Ngernturbo PCL. For more information: Pipop ‘Top’, MT Multimedia T: +66 81 929 8864, E: pipop.k@mtmultimedia.com
FWD Group Holdings Limited(FWD Group or FWD) today marked its 12th anniversary by announcing 12 charitable grants dedicated to supporting local communities across Asia.
Since its founding in 2013, FWD has grown from its beginnings in Hong Kong SAR, Macau SAR, and Thailand to now span 10 markets across Asia, including Cambodia, Indonesia, Japan, Malaysia, the Philippines, Singapore, Vietnam.
The 12 grants are focused on supporting non-government organisations (NGOs) with initiatives spanning financial literacy, social entrepreneurship, career readiness, and health and wellbeing in communities.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, “Celebrating our 12th anniversary as a newly listed company makes this milestone especially meaningful. The life insurance business is a deeply personal one, with FWD now touching the lives of 30 million people and their families across Asia. With caring as one of our core values at FWD, giving back in tangible and impactful ways to the wider community is a big part of our vision of changing the way people feel about insurance.”
Earlier this year, FWD extended its regional partnership with JA (Junior Achievement) Worldwide – a youth-focused charity and Nobel Peace Prize 2025 nominee – to reach 40,000 more students across Asia by the end of 2027 with its award-winning financial literacy programme. In the next phase, the programme aims to integrate new tools to strengthen financial literacy, mental wellness, and resilience – while involving more teachers and families in the process.
The 12 NGO grants include: – Cambodia: Partnering with Cambodia Children’s Fund to launch the “Let’s Save Debate,” a university-level initiative promoting financial literacy through debate and research.
– Hong Kong SAR: Expanding the JA SparktheDream programme with Junior Achievement Hong Kong and introducing the JA SparktheDream Wellness Workshop that blends financial education with social and emotional learning to engage primary school students.
Supporting WISE (Women In Sports Empowered Hong Kong Limited) with its programme to empower teenage girls through sports for mental wellbeing and self-confidence.
– Indonesia: Supporting InnovateHer Academy 3.0 with KUMPUL.ID to equip female entrepreneurs with business skills, mentorship, and investment readiness skills.
Launching a new financial education programme with Prestasi Junior Indonesia on the back of the best practices from the JA SparktheDream programme. The new programme will equip 30 school teachers with the skills and knowledge to deliver engaging and effective financial literacy lessons.
– Japan: Partnering with the National Welfare Beauty and Barber Training Association to provide medical wigs and support for cancer patients during Breast Cancer Awareness month.
– Malaysia: Launching the Bijak Ibu Jaga Anak & Kewangan (B.I.J.A.K.) programme with GivingHub to provide 200 low-income families with health and financial literacy educational workshops as well as 200 health screenings and consultations.
– Philippines: Collaborating with Junior Achievement Philippines on JA Forward Your Success to support graduating college students with financial literacy and career planning.
– Singapore: Supporting Club Rainbow (Singapore) in helping children with chronic illnesses and their families by joining Ride & Ralk for Rainbows 2025, along with a visit to Mandai Wildlife Reserve for children and youths with rare genetic and neurological disorders.
– Thailand: Sponsoring seven hospitality scholarships via Pimali Foundation for disadvantaged youth, helping them build sustainable careers.
Expanding the JA SparktheDream programme with Junior Achievement Thailand by training 30 teachers in financial literacy to deepen their financial management skills and better support students.
– Vietnam: Supporting Be A Finnovator with the Startup Vietnam Foundation on a training and debate competition for university students to build financial leadership, critical thinking, and responsible money habits.
About FWD Group FWD Group is a pan-Asian life and health insurance business that serves approximately 30 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code 1828. For more information, please visit www.fwd.com
– FWD Private serves the global high-end insurance market with diversified asset allocation, wealth management and legacy planning
– Newly indexed universal life product also introduced in Bermuda and Singapore; among the first wave of offerings in Hong Kong
FWD Group Holdings Ltd (FWD; 1828.HK) today announced, under its exclusive ‘FWD Private’ brand, the completion of a high-net-worth (HNW) hub in Asia and the full deployment of a new FWD Private Lounge in Hong Kong.
Leveraging FWD Group’s strong network, FWD’s HNW business operates out of three jurisdictions: Hong Kong, Singapore and Bermuda, with both onshore and offshore insurance solutions for HNW and ultra HNW customers worldwide.
FWD Private, established in 2023, offers comprehensive legacy planning solutions and services for HNW and ultra HNW individuals. The FWD Private Lounge, located in the prime commercial district in Hong Kong, is inspired by the tourbillon – a symbol of time and precision.
Ken Lau, Managing Director of Greater China and Hong Kong Chief Executive Officer, FWD, said, “The completion of the HNW hub reflects our long-term vision and reinforces FWD’s position as a trusted partner in wealth and legacy planning across Asia and beyond. Building on our strong foundation in Hong Kong, and our ability now to service other markets including Southeast Asia and the Middle East, we’re well-positioned to navigate diverse markets and tailor solutions that empower customers and their families to truly celebrate living.”
In Bermuda and Singapore, FWD Private recently launched Imperial Fortune – an indexed universal life (IUL) product that combines uncapped index returns with a minimum guaranteed point to point return of 2.3% per annum. FWD Hong Kong also launched its own IUL product, which was among the first wave of offerings in the market, in response to recent regulatory guidance from the Insurance Authority and Hong Kong Monetary Authority.
Shelyne Shum, Chief Partnership Distribution Officer who leads the strategic partnership business for FWD in Hong Kong and for FWD Private, said, “Through FWD Private, we’ve built a compelling proposition anchored in time-to-market agility, product and service innovation, and exceptional client experience. The FWD Private Lounge is designed for preferred partners to host exclusive engagements and deliver a refined, personalised experience to our customers.”
FWD Private’s products are primarily distributed via international brokers across Hong Kong, Singapore, Dubai and Switzerland, who provide personalised services and innovative wealth planning solutions to HNW and ultra HNW customers worldwide. FWD Private operates in Bermuda under FWD Life Insurance Company (Bermuda) Limited. A Singapore branch was established in 2024.
About FWD GroupFWD Group is a pan-Asian life and health insurance business that serves approximately 30 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code 1828.
About FWD PrivateFWD Private is a new horizon in legacy planning for high-net-worth individuals.
Dedicated to the growth, preservation and protection of wealth, FWD Private brings an innovative approach and fresh perspective to its customised solutions in wealth planning, giving customers an unparalleled experience.
With its hub in Asia, FWD Private’s cultural understanding ensures that the challenges of managing customers’ wealth is navigated with meticulous attention to detail, supported by digital infrastructure that provides the flexibility and dynamism that customers desire.
As a distinct yet integrated part of the overall FWD Group, FWD Private benefits from FWD Group’s financial strength, stability and investments in digital innovation.
– Front-loading supports current performance; expectations soften but remain positive
Standard Chartered and the Hong Kong Trade Development Council (HKTDC) jointly released the latest Standard Chartered Greater Bay Area Business Sentiment Index (GBAI), which showed resilient current business performance after the so-called US ‘Liberation Day’ tariffs shock, supported by front-loading of orders and production. Meanwhile, businesses were cautious on the outlook as expectations softened but remained positive.
The “current performance” index for business activities eased marginally to 53.1 in Q2 from 53.5 in Q1. A breakdown of index components supports the front-loading narrative; “Production/sales” was the strongest performer among the eight main sub-indices, in terms of both absolute score (57.1, the highest in a year) and change (+4.2 pts). Other positive drivers include “Fixed asset investment” (+2.0pts), “Profits” (+1.1pts) and “Raw material inventory” (+0.1pts).
Meanwhile, the “expectations” index for business activity fell to 52.0 in Q2 from 54.3 in Q1. This is the weakest level since Q4-2022, but the fact that expectations stayed above the 50 neutral mark provides some relief. There is a broad-based deterioration across sub-components as seven of the eight expectations sub-indices fell, and the exception was “Capacity utilisation”. “Financing scale” (-5.1pts), “Finished goods/services price” (-4.8pts) and “Production/sales” (-2.6pts) saw the biggest declines in the quarter.
By sector, “Innovation and technology” outperformed (+6.3pts for “current performance” and +5.5pts for “expectations”), while “Manufacturing and trading” showed short-term resilience (-0.4pts and -2.1pts) as rush orders ahead of US tariff implementation have kept manufacturers busy. ‘Retail and wholesale’ disappointed (-1.0pts and -4.1pts), despite the perceived effectiveness of China’s consumer goods trade-in program.
Across GBA cities, there was setback for Hong Kong and Guangzhou. Hong Kong saw the biggest drops among GBA cities (-9.8pts for “current performance” and -10.5pts for “expectations”) in the quarter. This partly reflects its vulnerability to the external environment and domestic consumption struggles. Guangzhou fell 9.3pts for “current performance” and 6.3pts for “expectations”.
Kelvin Lau, Senior Economist, Greater China and North Asia, Standard Chartered, said: “The looming tariff uncertainty has driven the front-loading of orders and production in the second quarter, while also accelerating AI development. Looking ahead, the findings revealed a more cautious view of GBA businesses amid the uncertain business outlook in the second half, especially regarding the outcome of bilateral trade deals after the 90-day pauses. Additionally, Hong Kong’s economy saw steady expansion in the first quarter. Given the significant proportion of external economic activities relative to its GDP, international trade and tariff policies are crucial for Hong Kong.”
For thematic questions, only some 10% of respondents saw a material direct impact from US tariff hikes. Notably, tariff pauses and exemptions provided relief on the impact, this underscores the importance of maintaining the recent US-China trade truce and quickly finalising other bilateral trade deals in Q3.
In terms of the impact of doing business, 41% of the respondents said US tariff hikes would delay the implementation of their business plans. Other major impacts include “difficult to navigate high level of logistical/customs disruption/uncertainty” (35%) and “losing business to other markets with lower tariff impact” (30%). Meanwhile, 32% of the respondents would sell more into the domestic market as the most common way to address the US tariff shocks and associated uncertainties.
Irina Fan, Director of Research, HKTDC, said: “The findings showed that GBA companies are relatively resilient to US tariffs, although our survey was conducted shortly after the US ‘Liberation Day’ tariffs against its trade partners in April and did not capture all of the more recent developments since. Some 75-80% of the GBA companies see negative impacts by US tariffs, mostly due to delay in business plan implementation and logistics disruptions.”
“In response to this new era of US trade policy, GBA companies seek to increase domestic sales and expanding to key markets in the region, in particular ASEAN, reflecting the mainland and HKSAR Governments’ efforts in promoting closer economic ties with these countries and regions.”
About the GBAI The GBAI is the first forward-looking quarterly survey in the market that looks at the business sentiment and synergistic effects in cities and industries across the GBA. It is compiled based on a survey of more than 1,000 companies in the GBA covering the manufacturing and trading, retail and wholesale, financial services, professional services and innovation and technology sectors. The index enables investors and businesses to better understand the current business climate, gauge future performance prospects and formulate their market strategies for the GBA.
About Standard Chartered We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.
The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR’s three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit:www.hktdc.com/aboutus.
UOB Hong Kong and the Hong Kong Trade Development Council (HKTDC) signed a landmark Memorandum of Understanding (MOU) at the ASEAN Conference 2025 in Singapore, marking a significant milestone in regional collaboration between the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and ASEAN. This strategic agreement positions UOB Hong Kong as the first Singapore-based bank to formalise a partnership with HKTDC, reaffirming a shared commitment to advancing sustainable economic development and deepening regional integration.
The MOU was announced by Adaline Zheng, CEO of UOB Hong Kong, and Vivienne Chee, Director of Singapore, HKTDC, witnessed by Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, Singapore, Teo Siong Seng, Chairman of the Singapore Business Federation, Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, and Kwan Ho Leung, Regional Director – Designate, South East Asia and South Asia, HKTDC.
The agreement outlines a robust framework for cooperation, aimed at strengthening regional ties and promoting sustainable growth. Through strategic initiatives, the partnership will enhance connectivity, promote trade, and foster integrated development of markets across the GBA, including Hong Kong, and ASEAN.
The MOU also aims to create job opportunities and empower communities across both regions by supporting enterprise development and deepening regional collaboration. Companies can leverage UOB’s extensive regional network and financial expertise, alongside HKTDC’s strengths in trade promotion, to access new markets, resources and professional knowledge.
Vivienne Chee, Director of Singapore, HKTDC, said: “We are delighted to partner with UOB Hong Kong to strengthen GBA-ASEAN collaboration. This MOU reflects our shared vision to foster sustainable economic growth through deeper trade and investment ties. By leveraging our respective strengths, we will enable businesses to seize arising opportunities and navigate the evolving global landscape with confidence.”
Adaline Zheng, CEO of UOB Hong Kong, said, “This partnership with HKTDC underscores our strong commitment to driving regional growth and connectivity. By leveraging our extensive ASEAN network, professional financial expertise and well-established foreign direct investment (FDI) advisory capabilities alongside HKTDC’s strengths in trade promotion, we aim to unlock new opportunities for businesses and deliver innovative and sustainable solutions that fuel trade and development. Together, we empower businesses to thrive in an increasingly interconnected and dynamic economic landscape.”
The partnership focuses on initiatives that drive cross-border collaboration, facilitate trade flows and foster cultural and business exchange through joint programmes and knowledge-sharing platforms. By matching local value chains with incoming FDI, the partnership creates new avenues for local enterprises and promotes inclusive growth. Enhanced financial connectivity and investment support strengthen the region’s economic resilience, while capacity-building efforts equip businesses to sharpen their competitiveness and succeed in the regional landscape.
About UOB UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of more than 470 branches and offices in 19 markets in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
For nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to helping businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With over 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.
Ria Money Transfer (“Ria”), a global leader in the cross-border money transfer industry and business segment of Euronet Worldwide, Inc. (NASDAQ: EEFT) has been officially approved by the Department of Labour Peninsular Malaysia (JTKSM) for the disbursement of digital wage payments via the Ria Wallet. By streamlining wage distribution through digital means, the Ria Prepaid Card Program, in collaboration with Mastercard, provides an omni-channel solution to employers who may struggle with conventional banking access for their workforce.
The Ria Wallet facilitates various financial activities such as depositing funds, withdrawing cash from ATMs, paying bills, and conducting domestic and international transfers. Customers will also be able to make payments in millions of locations in Malaysia via QR payment linked to DuitNow. In addition, the Ria Wallet streamlines payroll management for Malaysia-based companies throughout industries heavily dependent on migrant workers, including construction, agriculture, and manufacturing.
According to the International Organization of Migration (“IOM”), migrants represent an estimated 15.3% of Malaysia’s total workforce, many of whom are unbanked. The Ria Wallet addresses the challenges faced by both workers and employers in the country’s cash-centric payment landscape.
Ria’s presence in Malaysia since 2001 has positioned Ria as one of the leading players in the money transfer industry. Leveraging its strong physical network of 624,000 locations worldwide and its presence in nearly 200 countries and territories, Ria aims to provide a diverse and seamless service experience to all customers.
Espen Kristensen, Ria Money Transfer’s Managing Director Asia Pacific, expressed his excitement for the expansion of Ria’s service portfolio in Malaysia. He emphasized, “We understand the challenges employers in Malaysia face when it comes to managing wages for their workers. Through the Ria Wallet, companies will be able to benefit from a digital solution that improves transparency and compliance across their operations”.
In collaboration with Mastercard, The Ria Prepaid Card Program underscores the company’s commitment to driving positive social impact through the financial empowerment of different communities worldwide.
About Ria Money Transfer
Ria Money Transfer, a business segment of Euronet (NASDAQ: EEFT), delivers innovative financial services including fast, secure, and affordable global money transfers. With the world’s largest cross border real-time money movement network, Ria moves money where it matters.
Bridging the gap between digital and physical spaces, Ria’s omnichannel products and services provide unprecedented consumer choice, including real-time payments, mobile wallets, currency exchange, home delivery, and cardless ATM payouts. Ria’s global infrastructure, powered by the Dandelion real-time, cross-border payments network, facilitates financial access to customers, agents and partners alike. By creating new market opportunities and promoting economic growth around the world, Ria opens ways for a better everyday life.
– The Kyrgyz Republic’s 5-Year USD Benchmark Bond Receives Peak 4x Oversubscription
TF International Securities Group Limited (TF International) together with China CITIC Bank International Limited, Citigroup Global Markets Limited and Oppenheimer & Co. Inc announced the successful assistance in the Kyrgyz Republic’s issuance of a 5-year USD benchmark international bond (represented by the Cabinet of Ministers of the Kyrgyz Republic acting through the Ministry of Finance of the Kyrgyz Republic). Originally targeting an issuance size of approximately USD 500 million, the transaction saw overwhelming market demand during bookbuilding, with peak orders exceeding USD 2.1 billion (including USD 50 million underwriter’s order) from over 130 investors. The final issuance size was upsized to USD 700 million with a coupon rate of 7.75%. This fully reflects the global capital market’s strong confidence in the Kyrgyz Republic’s economic development prospects and TF International’s cross-border financing capabilities.
Central Asia’s Ice-Breaking Sovereign Bond Debut Pioneers New Cross-Border Financing Paradigm This landmark transaction marks the first USD bond issuance by a Central Asian sovereign issuer in international capital markets, and represents a milestone for TF International in the field of Central Asian sovereign bond underwriting. By leveraging its global investor network and localized service strengths, TF International together with the other Global Coordinators efficiently managed cross-time-zone bookbuilding and precisely captured the optimal market window. This enabled Kyrgyz Republic’s successful debut in the international USD bond market with oversubscription, laying a solid foundation for the nation to diversify its future financing channels.
The bond issuer, the Kyrgyz Republic (rated B+ by S&P, B by Fitch, and B3 by Moody’s), will utilize the proceeds to support its national budget, with a focus on financing hydroelectric power projects and infrastructure projects. The Kyrgyz Republic, as one of the earliest countries to support and engage in the Belt and Road Initiative, has seen increasingly close economic and trade relations with China. TF International signed a memorandum of understanding with the Kyrgyz Republic Ministry of Finance earlier, becoming the first Hong Kong-based Chinese securities firm to establish an official partnership with The Kyrgyz Republic Ministry of Finance.
Building a Diversified Financial Services Ecosystem for the Belt and Road Initiative from Hong Kong Mr. Amanbaev Umutzhan Mominovich, Deputy Minister of Finance–Director of the Central Treasury, Ministry of Finance of The Kyrgyz Republic, expressed his gratitude to the Global Coordinators for the efforts and successful closing of this debut transaction. He said: “This is our first step on the international debt capital markets. We are going to maintain our presence and become a frequent issuer for further development of our country’s debt profile and meet the needs of The Kyrgyz Republic economy. This inaugural bond issuance has not only optimized the national debt structure but also raised capital at competitive rates, providing strong support for the nation’s critical development projects. The oversubscription of this issuance fully demonstrates the international market’s recognition of Kyrgyzstan’s economic prospects and sovereign credit. It has laid a solid foundation for the country to continuously attract international capital, deepen financial openness, and integrate into the global economy, representing a crucial step towards financial autonomy and global integration.”
Mr. Alexander Shupletsov, Head of Emerging Markets Coverage, Belt and Road Business Department at TF International, said: “Moving forward, TF International will continue to serve as a strategic bridge, deepening capital connectivity with countries and regions along the Belt and Road. Through diversified financial services, we will promote funding facilitation and advance the sustainable development of Hong Kong as an international capital market. I would like to emphasize the importance of Hong Kong as the funding hub for Belt and Road countries. In addition to The London Stock Exchange listing, the bonds are also listed on The Stock Exchange of Hong Kong(the first sovereign bond from Central Asia listed at HKEX). It would allow The Kyrgyz Republic to strengthen its recognition among Chinese and Asian investors. This milestone transaction was a very big step for The Kyrgyz Republic to diversify their sources of funding, build up its debt profile and create the country’s yield curve as a funding benchmark.”
Embodying the SCO Spirit: A New Chapter in Regional Economic Cooperation and Sustainable Development As the second China-Central Asia Summit approaches and the SCO’s “China Year” events gain momentum, The Kyrgyz Republic’s bond issuance marks a concrete step by Chinese financial institutions in supporting regional economic cooperation. It reflects China’s strong commitment to advancing development through financial connectivity and showcases the collaborative spirit between China and SCO member states. By deepening multilateral financial cooperation and promoting resource sharing, The Kyrgyz Republic is accelerating its integration into the global financial system and turning the vision of sustainable growth and shared prosperity into reality.
Mr. ZOU Chuan, CEO of TF International, stated: “The successful issuance of this sovereign USD bond by Kyrgyz Republic marks a significant achievement in Belt and Road financial cooperation and a concrete step toward delivering on China’s national strategy and the SCO Year of Sustainable Development for the SCO Summit 2025. The deal strengthens Hong Kong’s role as a global debt financing hub and reflects a growing trend of Belt and Road countries – starting with Central Asia – shifting offshore fundraising to Hong Kong and exploring diversified financing channels. It also signals meaningful progress in the internationalization of the renminbi, as it begins to play a significant role in sovereign balance sheets. Building on this momentum, TF International will continue to leverage Hong Kong’s platform to connect the Belt and Road countries with global capital, supporting infrastructure and green development through market-based solutions, and contribute to high-level opening-up by advancing sovereign and strategic project financing.”
TF International Securities Group Limited TF International Securities Group Limited (TF International) is a Hong Kong-based subsidiary fully owned by TF Securities Co., Ltd (TFS). Hubei Hongtai Group Co., Ltd, the Controlling Shareholder of TFS, is the only financial services enterprise affiliated with Hubei Province. TF International serves as one of the key state-owned interface that connects the capital market overseas with Hubei Province and the rest of Mainland China, bridging the gap between domestic and foreign markets. Acting as a pilot platform for TFS’ global expansion aspirations, TF International provides top-notch financial services to clients and actively encourages inbound and outbound strategies for institutions and enterprises.
TF International’s subsidiaries are regulated by the Securities and Futures Commission of Hong Kong to conduct Type 1 (Dealing in Securities), Type 2 (Dealing in Futures Contracts), Type 4 (Advising on Securities), Type 5 (Advising on Futures Contracts), Type 6 (Advising on Corporate Finance) and Type 9 (Asset Management) regulated activities, establishing itself among the most active Chinese-funded securities firms in the Hong Kong market.
Sensiba LLP, ranked among the Top -75 U.S. accounting and consulting firms, is pleased to announce the addition of six new partners to its ownership group, effective May 1, 2025.
This milestone marks the largest single-year partnership expansion in Sensiba’s history and reflects the firm’s international growth, including its recent acquisition of cybersecurity audit and risk assurance firm AssuranceLab. The move also underscores Sensiba’s continued focus on delivering forward-thinking, technology-enabled services to clients across dynamic markets.
The firm’s partner group now includes 30 leaders, nearly half of whom are women, significantly exceeding the accounting industry’s average and reinforcing Sensiba’s commitment to diversity and leadership equity.
“We’re proud to welcome this outstanding group of professionals to our partnership,” said Managing Partner John Sensiba. “They’ve all shown an unwavering commitment to our clients, our colleagues, and the communities we serve. Their leadership will help drive our focus on tech-enabled innovation as we work with clients to navigate their evolving security and compliance challenges across dynamic markets.”
Introducing Sensiba’s New Partners: Scott Dritz – As a Risk Assurance Partner, Scott Dritz helps clients strengthen their cybersecurity posture and streamline ISO compliance. His leadership expands Sensiba’s risk assurance capabilities and supports organizations navigating today’s complex security landscape.
Masha Herzbrun – Tax Partner Masha Herzbrun advises venture capital and technology clients on tax compliance and strategic planning. She brings specialized expertise in tax issues for startups and investors across complex corporate, federal, and state tax matters, including the compliance implications of cryptocurrencies. She also advises individuals who are general partners or owners of venture capital and technology clients on tax compliance.
Natela Katamadze – Audit Partner Natela Katamadze focuses on serving clients across the venture capital sector, supporting investment entities from emerging funds to established multi-fund entities. Her areas of expertise include fund of funds, real estate investments, and digital asset investments, including complex fund structures, allocation methodologies, and valuations.
Lexie Ling – Tax Partner Lexie Ling specializes in venture capital partnership taxation, international tax compliance, and multi-state strategies. She has extensive experience serving venture capital funds and fund of funds. She works closely with partnerships and high net worth individuals to develop forward-looking tax solutions that support long-term growth and compliance.
Nicholas Lew Ton – Partner Nicholas Lew Ton drives Sensiba’s enhancements to client experience and service delivery. As Cofounder and former Co-CEO of AssuranceLab, he has built high-performing teams and guided hundreds of SaaS and cloud technology clients through compliance journeys. He is known for aligning teams around shared goals and modernizing how firms deliver client service at scale.
Paul Wenham – Partner Paul Wenham leads Sensiba’s innovation strategy and supports the firm’s continued strategic growth. As Cofounder and former Co-CEO of AssuranceLab, he pioneered the development of modern, client-centered cybersecurity audits and compliance solutions, blending smarter systems with human-centered design.
About Sensiba Sensiba’s global accounting, tax, risk assurance, and consulting services help businesses and people solve problems, establish trust, and build a foundation for sustainable growth. As an independent, partner-owned firm ranked among the Top 75 U.S. accounting and consulting firms, Sensiba serves clients throughout North America, APAC, and EMEA. We’re passionate about collaborating with clients to increase efficiency, mitigate risk, and embrace emerging opportunities. As a certified B Corp, we foster a culture where people, families, and communities thrive. As a member of Morison Global, we support our clients’ international accounting and tax needs. For more information, visit Sensiba.com.
CONTACT: Marc Stevens, Brand & Communications Manager 925-271-8700 x7166 mstevens@sensiba.com
FWD Group Holdings Limited (FWD Group or FWD) today announced exceptionally strong first quarter new business highlights for the three months ended 31 March 2025.
– New business contractual service margin (New business CSM) growth of 55 percent year-on-year, to US$465 million. This adds to the company’s overall CSM balance, which is released over time to its income statement under IFRS 17. – New business sales (APE) growth of 46 percent, compared to the same corresponding period last year, to US$679 million. – Extended FWD Group’s partnership with JA Worldwide in April for a further three years to help primary school students in Asia develop financial literacy, through the award-winning programme, JA SparktheDream.
Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, said, “FWD Group had a very strong start to the year, with our customer-led strategy driving some incredible new business results. We continued to respond to rapidly evolving customer needs for protection, health, and savings, with 10 new products introduced in the quarter, including FWD Private’s first high-net-worth indexed universal life proposition.”
“FWD Group had a terrific quarter and maintained a strong balance sheet, however, we’re keeping a close watch on the volatility in global financial markets and the uncertain global macro-economic outlook. Risk management is always a top priority and FWD Group is taking a prudent approach in preparing for a range of possible scenarios and outcomes,” added Huynh Thanh Phong.
The growth in new business indicators was driven by most of the 10 markets FWD operates in.
In Hong Kong SAR & Macau SAR, the particularly strong trajectory of growth in new business sales and new business CSM continued, reflecting demand from both local and Mainland Chinese visitor customers.
In the Thailand & Cambodia reporting segment, new business indicators were impacted by weaker economic conditions as well as lower interest rates.
Double digit growth in new business sales in the company’s Emerging Markets segment was broad-based, while Japan posted steady new business indicators.
Quarter ended 31 March^
US$ millions, except for percentages
2024
2025
Growth (year on year CER basis)
New business growth indicators New business sales (APE)
460
679
46%
New business CSM
297
465
55%
Value of new business (VNB)
215
287
32%
About FWD Group FWD Group is a pan-Asian life and health insurance business that serves approximately 30 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. For more information, please visit www.fwd.com
^The unaudited results are for the three months ended 31 March 2025 and are compared to the same period in 2024. Growth rates are represented on a constant exchange rate (CER) basis. New business sales are calculated on an annual premium equivalent (APE) basis, based on 100 percent annual premiums and 10 percent single premiums. New business CSM excludes the impact of one-off reinsurance contracts on in-force business.
