Leading financial institution, Fidelity Bank Plc’s international subsidiary, FidBank UK Limited, has announced a commitment to support Nigerians – both individuals and corporations – in acquiring properties in the United Kingdom.
Fidbank UK which provides a comprehensive suite of financial services, including trade finance, personal and business banking, treasury services, commercial lending, and private banking, is set to deliver tailored financial solutions for high-net-worth individuals (HNIs) seeking to invest in the UK real estate market through its FidBank Buy-to-Let product.
This announcement was made at an exclusive product showcase hosted by the British Deputy High Commissioner, Mr. Jonny Baxter at his Residence in Lagos on Tuesday, 26 May 2026. The event was attended by a select audience comprising captains of industry and corporate leaders.
Highlighting the significance of the event, the Managing Director/Chief Executive Officer of FidBank UK Ltd, Mr. Johnson Enemadu, said:
“This event is about showcasing to the market and our customers that there is something exciting in the market and we are able to take them along in this journey, supporting their businesses by bringing capital both in the financial institutions and corporate space and also for our high networth inidividuals. It is a total experience.
“Today’s event is also taking place against the backdrop of strengthened bilateral relations between Nigeria and the United Kingdom, highlighted by the recent state visit of the President of the Federal Republic of Nigeria to the UK. This renewed engagement between both countries continues to unlock new pathways for trade, investment, and financial collaboration; and FidBank UK is pleased to play a leading role in driving this.”
In his welcome remarks, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter said:
“The United Kingdom remains firmly committed to deepening its economic partnership with Nigeria, with a clear focus on driving inclusive, sustainable investment, trade and economic growth. London’s position as a leading global financial centre is central to this, supported by robust financial infrastructure that enables efficient trade flows and seamless cross-border transactions between our markets.
It is therefore encouraging to see institutions such as FidBank UK advancing financial service offerings that not only expand investment opportunities in the UK, but also strengthen the financial systems supporting growing commercial ties. We welcome and support efforts that continue to enhance liquidity, facilitate trade, and drive sustainable UK-Nigeria economic connections.”
The well-attended event also featured art exhibitions by two of Nigeria’s leading visual art talents -Femi Morakinyo and Oswald Chukwunyeremugo – who displayed their latest works to the admiration of the guests.
Also speaking at the event, the Governor of Lagos State, Mr. Babajide Sanwo-Olu, represented by the Honourable Commissioner for Finance, Mr. Abayomi Oluyomi, lauded the initiative as it aligned with the administration’s T.H.E.M.E.S. Agenda, saying:
“FidBank UK offers a private banking relationship grounded in regulatory rigour and institutional trust. This is not a catalogue of products, it is a comprehensive financial architecture built for people who live, work and invest across the Nigerian-UK corridor”.
Operating from the heart of the City of London since 1983, FidBank UK provides a comprehensive range of banking services to customers doing business from and into Nigeria and other West African countries, including trade finance, personal banking, business banking, treasury services, commercial lending and private banking.
The bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority and subscribe to the Financial Services Compensation Scheme.
Professional seepage-inspection reports feed directly into civil claims, helping property owners recover repair costs
HONG KONG SAR – Media OutReach Newswire – 30 May 2026 – To address the persistent problem of building water seepage affecting Hong Kong property owners, HK Find Surveyor (香港搵公正行網) and Hong Kong Civil Claim Centre (香港民事索償中心) today announced a joint service that combines professional seepage detection with legal claims into a single, end-to-end process — helping affected owners move from identifying the source of a leak to recovering their losses with complete support.
The core difficulty of seepage disputes
Water seepage is a common problem in Hong Kong’s older and high-density housing, yet owners typically face three obstacles: difficulty proving the source of the seepage, responsible parties refusing to acknowledge or compensate, and a lack of sufficient evidence to bring a claim. Many cases reach a dead end simply because there is no professional inspection report.
How the end-to-end service works
Seepage detection (HK Find Surveyor) — Using methods such as infrared thermal imaging, moisture testing and water-pipe pressure testing, the source of the seepage and the responsible party are determined, and a credible written inspection report is issued.
Legal claims (Hong Kong Civil Claim Centre) — Using that inspection report as key evidence, owners are assisted in issuing a formal demand to the responsible party, negotiating, and where necessary pursuing repair costs and related losses through civil proceedings.
The key to the service: the seepage inspection report is precisely the core evidence required for a civil claim. By connecting the two stages, owners avoid shuttling between different organisations and can ensure a complete chain of evidence.
Representatives’ comments
A spokesperson for HK Find Surveyor said: “In many seepage cases, the dispute comes down to the difficulty of pinpointing the source. A rigorous, impartial inspection report provides a clear factual basis for everything that follows.”
A spokesperson for Hong Kong Civil Claim Centre added: “In the claims process, the quality of evidence often determines how the recovery progresses. A professional seepage report gives us a firmer basis to communicate with the responsible party when handling claims for seepage-related losses.”
(Note: This service provides legal consultation and claims assistance; the outcome of each case depends on its facts and evidence.)
Applicable situations
Seepage, mould or peeling on ceilings, walls or floors
Suspected seepage from an upstairs unit, external wall or common areas
The responsible party has been asked to act but has refused or delayed
A professional report is needed to support recovery of repair costs or losses
The issuer is solely responsible for the content of this announcement.
About HK Find Surveyor
HK Find Surveyor (香港搵公正行網, hkfindsurveyor.com) provides professional seepage detection and building inspection services in Hong Kong, focused on determining the source and responsibility of seepage through objective technical methods. More: hkfindsurveyor.com
About Hong Kong Civil Claim Centre
Hong Kong Civil Claim Centre (香港民事索償中心, hkcivilclaim.com) provides the public with legal information and assistance relating to civil claims, covering personal injury, property loss and property-related disputes. More: hkcivilclaim.com
Central Bank of Nigeria has extended the enforcement deadline for the mandatory Point of Sale (PoS) terminal geo-fencing framework to August 1, 2026, while approving a wider operational radius for payment service operators across the country.
The new directive was contained in a circular dated May 29, 2026, and signed by the Director of the Payments System Supervision Department, Dr. Rakiya O. Yusuf.
Under the revised framework, the approved geo-fence radius for PoS terminals has been expanded from 10 metres to 70 metres following engagements with stakeholders in Nigeria’s digital payments ecosystem.
Brandspur Banking News Desk reports that the extension provides banks, mobile money operators, switching companies, payment service providers, and other licensed financial institutions with additional time to complete compliance processes before enforcement begins.
The updated framework follows earlier regulatory directives linked to the migration to ISO 20022 payment messaging standards and the mandatory geo-tagging of electronic payment terminals nationwide.
Geo-fencing technology allows regulators and payment infrastructure providers to monitor the approved operating locations of PoS devices, helping to strengthen transaction oversight and reduce the use of terminals in unauthorised locations.
Industry stakeholders had previously raised concerns over the initial operational limitations, citing challenges associated with location accuracy, field deployment, and network infrastructure, especially in rural and underserved areas.
The expanded 70-metre radius is expected to improve operational flexibility for agency banking operators, merchants, and payment service providers managing large numbers of terminals across multiple locations.
The apex bank also directed operators to submit evidence of compliance to the Payments System Supervision Department on or before July 31, 2026.
Beyond extending the enforcement timeline, the CBN instructed financial institutions to use the transition period to resolve outstanding operational and integration issues involving the National Central Switch and related payment infrastructure.
The regulator said the additional compliance window is intended to ensure system readiness and seamless implementation of the location-monitoring framework before full enforcement commences.
Nigeria’s digital payments ecosystem has experienced rapid growth in recent years, with PoS terminals becoming one of the country’s most widely used channels for cash withdrawals, funds transfers, and merchant transactions.
The latest move by the CBN signals continued efforts by the regulator to improve transparency, strengthen oversight, and enhance the integrity of electronic payment systems across the financial sector.
The geo-tagging policy was first introduced in August 2025, when the CBN mandated Deposit Money Banks, Microfinance Banks, Mobile Money Operators, Super Agents, and switching firms to adopt ISO 20022 standards and geo-tag all payment terminals nationwide.
LASU Conscience has successfully concluded the fourth edition of its flagship media and technology conference, EVOLVE 4.0, bringing together industry professionals, students, creatives, and technology enthusiasts for discussions on innovation and digital transformation.
The event, themed “Media, Tech And Global Impact,” served as a platform for conversations focused on leadership, storytelling, career growth, innovation, and the increasing role of technology in shaping global influence across industries.
Participants at the conference engaged in sessions designed to equip young people with practical knowledge and insights needed to navigate opportunities within the rapidly evolving media and technology ecosystem.
Brandspur Brand News reports that the programme attracted a diverse audience, including media practitioners, digital creators, tech innovators, entrepreneurs, and students seeking to expand their understanding of emerging trends in communication and digital innovation.
Speakers at the event highlighted the growing importance of leveraging technology and media platforms to drive social impact, build sustainable careers, and amplify African voices in global conversations.
The conference also featured networking opportunities, knowledge-sharing sessions, and discussions on the future of digital storytelling, innovation, and youth participation in the global digital economy.
Organisers stated that EVOLVE 4.0 was created to inspire young Nigerians to embrace innovation, develop leadership capacity, and maximise the opportunities available in the digital age.
The event concluded with a strong call for students and young professionals to use media and technology responsibly within their various fields while contributing meaningfully to societal development and international discourse.
Over the years, EVOLVE has continued to position itself as one of the leading student-driven platforms promoting conversations around media innovation, technology, creativity, and youth empowerment in Nigeria.
MTN Nigeria is set to restore its Xtratime airtime lending service after the suspension of enforcement actions tied to Nigeria’s digital lending regulations.
The telecom operator’s planned return to airtime lending follows the decision by the Federal Competition and Consumer Protection Commission to halt enforcement of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025.
The move places MTN alongside Airtel Nigeria and Globacom, both of which have already resumed airtime lending services after the regulatory pause.
Brandspur Brand News reports that MTN had initially maintained a cautious position despite an interim court order restraining the enforcement of the FCCPC rules, arguing that the judgment did not specifically direct telecom operators to immediately reactivate lending services.
The company’s Xtratime platform enables subscribers to borrow airtime and data, with repayment deducted from future recharges. The service plays a strategic role in supporting customer usage and generating additional revenue for the telecom giant.
During its earlier earnings presentation, MTN executives had stated that two conditions were necessary before the service could return: a court decision invalidating the FCCPC regulations or a clear directive authorising operators to restore airtime lending.
However, the company’s position shifted after the FCCPC formally suspended enforcement of the regulations on May 22, 2026, following legal action initiated by the Wireless Application Service Providers Association of Nigeria.
The court proceedings stemmed from an interim order granted by the Federal High Court in Lagos on April 15, 2026, after WASPAN challenged the implementation of the new lending framework.
Despite the temporary suspension of Xtratime, MTN executives said customer consumption patterns remained relatively stable after an initial short-term adjustment period.
According to the company, many subscribers adapted by switching to self-funded airtime and data purchases or using alternative methods to manage short-term telecom spending needs.
MTN disclosed that fees generated from Xtratime account for roughly three percent of the company’s revenue base, while telecom consumption linked to the service contributes a low-20 percent share of total airtime distribution across voice and data services.
The telecom operator also expressed confidence that the temporary suspension of airtime lending would not significantly affect its overall financial outlook for the year.
MTN Group recorded ₦5.2 trillion in revenue for the 2025 financial year and projects earnings of at least ₦6.24 trillion in 2026 as demand for telecom and digital services continues to expand.
In its first-quarter 2026 earnings report, the company stated that it was accelerating the onboarding of approved lending providers and preparing operational processes ahead of the full restoration of the Xtratime platform.
Industry analysts believe MTN’s decision to reactivate the service reflects the competitive importance of airtime lending in Nigeria’s telecommunications market, where operators increasingly rely on digital financial products to deepen customer engagement and boost recurring usage.
Stanbic IBTC Holdings Plc has secured shareholder approval for N804.5 million in directors’ remuneration for the 2026 financial year following resolutions passed at its 14th Annual General Meeting.
The approved remuneration covers the financial year ending December 31, 2026, and represents an increase from the N681 million approved for the 2025 financial year. The development comes amid strong earnings growth recorded by the banking group in its latest audited results.
The company also received shareholder approval for several key corporate resolutions, including the payment of a final dividend of N4 per share for the 2025 financial year, the re-election of directors, appointments to the board, and the confirmation of external auditors.
Brandspur Banking News Desk reports that the financial institution posted a pretax profit of N551.7 billion for the 2025 financial year, compared with N303.7 billion recorded in the previous year, driven by growth in both interest and non-interest income streams.
Post-tax profit also rose significantly to N380.7 billion, representing a 69 percent year-on-year increase from N225.3 billion declared in 2024. The bank had previously reported a profit after tax of N140.6 billion in 2023, highlighting sustained earnings expansion over the last three years.
Directors’ remuneration has continued to rise steadily over the period, moving from N544.5 million approved for the 2023 financial year to N653 million in 2024, before increasing to N681 million for 2025 and now N804.5 million for 2026.
The lender’s reserves position also strengthened considerably, climbing from N390.3 billion in 2023 to N552.6 billion in 2024 before reaching N858.4 billion in 2025.
On the Nigerian Exchange, Stanbic IBTC shares maintained strong momentum, delivering a 73.61 percent return in 2025 to close at N100 per share, becoming one of the few Nigerian banking stocks to cross the N100 mark.
The stock has continued its upward trajectory in 2026, gaining more than 74 percent as of May 29, 2026, to trade at N174.5 per share during market activity.
The group also reported significant balance sheet expansion in its full-year results. Customer deposits increased to N4.3 trillion from N3 trillion recorded in the previous year, while loans and advances to customers rose slightly to N2.37 trillion from N2.34 trillion.
Total assets climbed to N8.6 trillion, up from N6.9 trillion in the prior financial year, reflecting continued growth across the group’s banking operations.
At the Annual General Meeting, shareholders re-elected Mrs. Sola David-Borha, Mr. Ballama Manu MFR, and Dr. Kunle Adedeji as directors. Shareholders also approved the appointment of Mr. Chukwuma Nwokocha to the board.
Members also re-elected Mr. Samuel Ayininuola, Mr. Olatunji Bamidele, and Mr. Ibhade George as representatives on the Audit Committee.
In addition, shareholders approved the appointment of Ernst & Young Nigeria as external auditors until the conclusion of the next Annual General Meeting, with the board authorised to determine the firm’s remuneration for the coming year.
BANGKOK/SINGAPORE – Media OutReach Newswire – 29 May 2026 – Vinpearl Joint Stock Company announced a series of strategic partnerships and agreements with Agoda, AirAsia MOVE, BeMyGuest, and GlobalTix, leading regional players in online travel, aviation, and experience distribution. These collaborations are aimed at expanding access to international travelers, strengthening the global presence of the Vinpearl, VinWonders, Vinpearl Golf, and VinPalace ecosystem, and bringing Vinpearl’s hospitality, leisure, and entertainment offerings to a broader audience across international markets.
The agreements were signed at the Vietnam-Thailand Business Forum and the Vietnam-Singapore Technology Connectivity Forum, held as part of Party General Secretary and State President To Lam’s official visits to the Kingdom of Thailand, the Republic of Singapore, and the Republic of the Philippines from May 28 to June 1, 2026.
In Thailand, Vinpearl announced the expansion of its strategic partnerships with Agoda and AirAsia MOVE to strengthen the international presence of its integrated tourism, hospitality, and entertainment ecosystem.
Through Agoda, one of the world’s largest online travel platforms, Vinpearl aims to optimize business performance across its tourism, hospitality, and entertainment portfolio while expanding its reach in key markets including Southeast Asia, India, the Middle East, Australia, and long-haul international traveler segments. The partnership also marks a new milestone for VinWonders, with its integrated leisure and hospitality products now being offered directly through Agoda’s global platform.
The partnership with AirAsia MOVE is designed to broaden international access to Vinpearl and VinWonders hospitality, leisure, and entertainment offerings in Phu Quoc, Nha Trang, and Da Nang-Hoi An through one of the region’s leading digital travel platforms. Via AirAsia MOVE, travelers can conveniently book flights, accommodations, and attractions within a single itinerary, making it easier to choose integrated Vinpearl and VinWonders experiences when visiting Vietnam.
With access to a network of more than 700 airlines and over one million hotels worldwide, AirAsia MOVE is expected to further strengthen the visibility of the Vinpearl and VinWonders ecosystem among international travelers, while also enhancing Vietnam’s appeal as a destination for visitors from ASEAN and other key global markets.
In Singapore, Vinpearl also signed partnership agreements with BeMyGuest and GlobalTix, two of the Asia-Pacific region’s leading technology and distribution platforms for travel experiences.
Supported by extensive partner networks and some of the region’s most diverse travel product portfolios, these collaborations are expected to strengthen the presence of the VinWonders brand across Southeast Asia, China, and India, while expanding international access to unique experience offerings in Nha Trang, Phu Quoc, and Da Nang.
Through these agreements, the partners will leverage their respective strengths in technology, distribution, and customer ecosystems to progressively expand the international footprint of Vinpearl and VinWonders while enhancing the global appeal of Vietnamese tourism.
Ms. Ngo Thi Huong, Chief Executive Officer, Vinpearl, said: “These partnerships not only expand Vinpearl’s network of strategic partners but also create a strong foundation for the Vinpearl and VinWonders ecosystem to connect more deeply with global traveler segments through some of the region’s leading travel, aviation, and distribution platforms. This represents an important step in our strategy to strengthen international competitiveness and position Vinpearl destinations among the top choices for travelers across Asia.”
Mr. Krishna Rathi, Associate Vice President, Supply, Agoda, said: “With its extensive scale of operations, diverse portfolio, and ability to develop integrated destinations, Vinpearl is one of the most outstanding partners in Vietnam’s tourism industry today. We believe this partnership will help the Vinpearl and VinWonders ecosystem engage more deeply with rapidly growing international traveler segments across Asia and global markets.”
Ms. Nadia Omer, Chief Executive Officer, AirAsia MOVE, said: “We highly value the opportunity to partner with Vinpearl in unlocking strategic collaboration potential within one of Southeast Asia’s most dynamic and fast-growing tourism markets. As an OTA platform with a comprehensive travel ecosystem and extensive regional connectivity, AirAsia MOVE is committed to further enhancing travel connectivity and intra-regional tourism flows. Vietnam is emerging as one of the region’s brightest tourism destinations, and we believe the combination of Vinpearl’s leading hospitality and entertainment ecosystem with AirAsia MOVE’s distribution and connectivity capabilities will create significant growth opportunities for the tourism sector in the years ahead.”
The partnerships with Agoda, AirAsia MOVE, BeMyGuest, and GlobalTix mark another milestone in Vinpearl’s strategy to internationalize its tourism, hospitality, and entertainment ecosystem while expanding the presence of Vinpearl and VinWonders accommodation, leisure, and experience offerings across global travel platforms.
The issuer is solely responsible for the content of this announcement.
About Agoda
Agoda is a global online travel platform offering more than six million accommodation options, including hotels, resorts, apartments, and vacation villas, as well as flight bookings, travel activities, and related travel services. Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG). The platform operates in 39 languages, provides 24/7 customer support, and employs more than 7,500 people worldwide.
About AirAsia MOVE AirAsia MOVE (MOVE) is the digital travel platform of Capital A Group and has been recognized by the World Travel Tech Awards as Asia’s Best Travel Booking App for three consecutive years since 2023. Focused on building a comprehensive travel ecosystem, MOVE delivers affordable, seamless, and personalized travel experiences across Southeast Asia and international markets.
The platform currently connects travelers to more than 700 airlines and over one million hotels worldwide while offering a wide range of services including attraction tickets, airport transfers, travel insurance, and integrated travel products. AirAsia MOVE also enhances user experience through its loyalty program and AskBo, an AI-powered travel chatbot.
About BeMyGuest BeMyGuest is a Singapore-based travel technology company founded in 2012, specializing in booking and distribution solutions for attractions, tours, and travel experiences across the Asia-Pacific region. Its ecosystem includes the Distribution Network and Xplore Booking System, which support sales management, multi-channel distribution, and digital operations for thousands of partners in the experience tourism industry. BeMyGuest is connected to numerous online travel platforms and international distribution partners while providing multilingual solutions and flexible pricing models for integrated systems.
About GlobalTix GlobalTix is a global technology and distribution platform for attractions, tours, and travel experiences, headquartered in Singapore with operations across multiple Asia-Pacific markets. Founded in 2013, GlobalTix enables attractions and experience operators to connect with travel agencies, online travel platforms, and international distribution partners through a unified platform. Its partners include major brands such as Mount Faber Leisure Group, Taman Safari Indonesia, Mandai Wildlife Group, National Gallery Singapore, and Singapore Airlines.
About Vinpearl
Vinpearl is Vietnam’s leading hospitality, tourism, and entertainment brand, currently operating 60 properties across 20 provinces and cities nationwide. Its ecosystem includes a network of five-star hotels and resorts with more than 17,500 rooms; 15 VinWonders theme parks featuring attractions for visitors of all ages; six world-class golf courses; and three VinPalace convention and performing arts centers. The portfolio also includes two semi-wildlife conservation and care parks, an equestrian academy, and million-dollar live-action performance shows in destinations such as Nha Trang and Phu Quoc, attracting millions of visitors each year.
Alibaba becomes the official and exclusive partner for AI, Cloud Computing Services, and E-commerce
Partnership to deploy Alibaba Cloud and Qwen Artificial Intelligence to deliver smart operations and personalized digital experiences for fans
BUDAPEST, HUNGARY – Media OutReach Newswire – 29 May 2026 – Alibaba Group today announced a multi-year partnership with the Union of European Football Associations (UEFA) and UC3, the joint venture between UEFA and European Football Clubs (EFC) that controls and manages the strategic marketing, sales and delivery of commercial rights for UEFA club competitions. Alibaba Group becomes the official and exclusive AI, Cloud Computing Services, and E-commerce partner of the UEFA Champions League, UEFA Europa League and UEFA Conference League from 2027/2028 to 2032/2033 and of UEFA EURO 2028TM.
The partnership will see the deployment of Alibaba’s advanced AI capabilities in supporting fan engagement and media and content management via its QwenLarge Language Model (LLM).Together with its cloud computing infrastructure and global e-commerce platform, Alibaba will power an immersive fan and content experience worldwide across UEFA’s flagship competitions.
UEFA President Aleksander Čeferin said: “We are delighted to welcome Alibaba as a global partner for UEFA EURO 2028 and as a future partner of our men’s club competitions. Their expertise in artificial intelligence, cloud computing technology, and e-commerce will support UEFA’s commitment to thoughtful innovation and to enhancing the experience of supporters around the world. Together, we can bring fans closer to the game in new and meaningful ways – making our competitions feel even more captivating, engaging and accessible, while preserving the traditions, emotions and spirit that define European football.”
“We believe that football is a shared language around the world, and the unifying power of the game at all levels for all fans is the mission that brings Alibaba and UEFA together,” said Joe Tsai, Chairman of Alibaba Group. “I am excited to work with UEFA to realize the vision of this multi-year partnership, where we will commit our cloud computing, full-stack AI, and global e-commerce capabilities to support UEFA and UC3 to deliver these iconic competitions to global fans.”
Alibaba’s cloud infrastructure and Qwen LLM will support UEFA in building its own next-generation AI capabilities. Fans will benefit from personalized, AI-powered experiences that deepen their engagement with the sport. Through Alibaba’s global e-commerce network, fans around the world may soon enjoy seamless access to a wide range of official merchandise from the UEFA men’s club competitions from 2027/2028 and UEFA EURO 2028TM.
This partnership is a new global benchmark in sports innovation. It combines UEFA’s unmatched sporting legacy and global fan base with Alibaba’s expertise in AI, cloud computing, and e-commerce, creating a scalable model for sports federations, leagues and teams to engage fans worldwide.
The development and execution of the partnership between UEFA, UC3, and Alibaba was facilitated by Relevent, a world-leading commercial rights partner dedicated to international football. The UEFA EURO 2028 partnership will be managed by CAA11.
Hashtag: #AlibabaGroup
The issuer is solely responsible for the content of this announcement.
About UEFA
UEFA is the governing body of European football and a not-for-profit organisation which supports and ensures the world‘s most popular sport continues to thrive at all levels across its 55 member associations. As part of its commitment, UEFA invests 97.5% of its revenue in football-related activities, projects and initiatives that ensure the continued development of the men’s and women’s professional game as well as youth, grassroots and futsal.
About UC3 UC3 unites European football‘s governing body UEFA and European Football Clubs (EFC), representing more than 800 top European clubs, around a new vision for managing commercial rights to UEFA club competitions (the “UCCs”). It is the commercial entity responsible for generating revenues from the UCCs and creating value for our partners. UC3 oversees the management, sales and delivery of all commercial rights (including media, sponsorship and licensing rights) for UEFA‘s elite men‘s and women‘s club competitions.
About Alibaba Group
Alibaba Group is a global technology company focused on AI + Cloud and consumption. We provide the technology infrastructure and marketing reach to help merchants, brands, retailers and other businesses to engage with their users and customers and operate efficiently. We empower consumers and enterprises with our full-stack AI capabilities and services. Our AI technology based on Qwen (Chinese: Qianwen), a family of large language and multimodal models, powers the intelligence behind our services across enterprise solutions, e-commerce and other Internet platforms.
JOHOR, MALAYSIA – Media OutReach Newswire – 29 May 2026 – Between 1 October 2024 and 31 March 2026, 593 applicants were approved for the SFZ MM2H programme — a surge in success that has, in turn, triggered a sharp rise in enquiries from prospective applicants. In response, Forest City Special Financial Zone (SFZ), a growing residential and commercial hub and designated Special Financial Zone in Johor, Malaysia, has issued a comprehensive overview of the eligibility criteria for Malaysia My Second Home Programme’s SFZ MM2H variant, how it differs from other MM2H tiers, documentation requirements, and step-by-step application procedures.
Malaysia MM2H policy comparison: Forest City Special Financial Zone edition vs. Non-Special Zone Silver, Gold, and Platinum tiers – including fixed deposit amounts, minimum property purchase prices, visa duration, and fees.
Malaysia’s My Second Home (MM2H) programme has historically attracted retirees and investors seeking an affordable path to long-term residency. A relatively new variation linked to Forest City’s SFZ offers one of the lowest entry points in the programme’s history.
Under the national MM2H framework, Silver and Gold applicants are required to maintain fixed deposits ranging from RM500,000 to RM1 million. In addition, participants must purchase and own a residence corresponding to their MM2H category — with a minimum property value of RM600,000 for silver, RM1 million for Gold, and RM2 million for platinum.
In comparison, the SFZ MM2H, available exclusively through Forest City, sets a significantly lower deposit threshold — US$65,000 for applicants aged 21–49, and US$32,000 for those aged 50 and above — along with a mandatory purchase of a Forest City residential property valued at no less than RM500,000.
Key Differences Between the Forest City SFZ MM2H and Malaysia’s Standard MM2H Programme
The MM2H programme was introduced more than two decades ago by the Ministry of Tourism, initially targeting foreign retirees under the Silver Hair Programme. Following several revisions, including a major policy update in 2021, the scheme was restructured into three tiers — Silver, Gold, and Platinum — each with different deposit requirements, eligibility criteria, and associated benefits.
Launched in 2024 alongside the establishment of the Forest City SFZ, the SFZ MM2H presents a distinct variation of the national MM2H programme. Unlike the other tiers, this version is specific to Forest City in Johor, and is designed to attract investors, professionals, and expatriates to the new economic zone.
The SFZ MM2H has a lower fixed deposit requirement, but requires the mandatory purchase of a qualifying residential property directly from the Forest City developer.
Category
SFZ MM2H
Standard MM2H (Silver)
Standard MM2H (Gold)
Standard MM2H (Platinum)
Fixed Deposit
US$65,000 (age 21–49) / US$32,000 (age 50+)
US$150,000
US$500,000
US$1,000,000
Property Requirement
RM500,000 minimum (Developer unit only, cannot sell for 10 years)
RM600,000
minimum
RM1,000,000 minimum
RM2,000,000 minimum
Visa Duration
10 years, renewable
5 years, renewable
15 years, renewable
20 years, renewable
Property Location
Forest City only (Valid throughout Malaysia — holders may reside in any state, including Kuala Lumpur and Penang)
While the SFZ MM2H may not be designed for every demographic, given that both the fixed deposit and property purchase are mandatory, Forest City offers 517-square-foot residential units tailored for the programme, providing a more accessible option for those interested in applying.
The Forest City SFZ MM2H Qualification
To qualify for the Forest City SFZ MM2H, applicants must meet the following criteria:
Age Requirement
Minimum age of 21 years old for the principal applicant
Eligible Dependants
Spouse (husband or wife)
Biological, adopted, or stepchildren under 34 years old
Unmarried children aged below 34 who are unemployed
Medically certified children with disabilities (no age limit)
Parents or parents-in-law
Financial Requirement
Maintain a fixed deposit with a Malaysian financial institution regulated under the Financial Services Act 2013 or Islamic Financial Services Act 2013:
US$65,000 for applicants aged 21–49
US$32,000 for applicants aged 50 and above
Property Requirement
Purchase one residential unit directly from the Forest City developer (minimum RM500,000)
Sub-sale or secondary-market units are not eligible
The purchase must be completed within 90 days of receiving the approval letter
Residency Requirement
Applicants aged 21–49 must fulfil a minimum annual stay period in Malaysia (verify current stay requirement with a licensed agent)
Applicants who were previously rejected under MM2H or have unresolved immigration issues are not eligible.
Process to Apply for the SFZ MM2H
Applications for the SFZ MM2H must be submitted through a licensed MM2H agent accredited by the Ministry of Tourism, Arts and Culture (MOTAC) under the Tourism Industry Act 1992. Direct or independent submissions are not accepted.
Application Steps
1. Engage a Licensed Agent Select a registered MM2H agent to assist with the preparation and submission of all required documents. 2. Prepare Documentation Gather and complete the necessary documents, which typically include:
A valid passport (with at least 18 months of remaining validity)
Proof of financial resources
Marriage Certificate
Police clearance certificate
Birth Certificate
3. Submit and Await Approval The Ministry of Tourism, Arts and Culture reviews all applications. Processing times may vary. Approved applicants will receive an official Letter of Conditional Approval. 4. Deposit the Required Funds Open a fixed deposit account with a Malaysian financial institution approved under the Financial Services Act 2013 or Islamic Financial Services Act 2013 and place the required deposit amount. 5. Purchase Property and Activate the Visa After receiving the approval letter, applicants must complete the purchase of a qualifying Forest City property. Once the purchase is finalised, up to 50% of the initial fixed deposit may be withdrawn for approved purposes, including property purchase, education, medical expenses, and tourism activities in Malaysia. The applicant’s passport will then be endorsed with the SFZ MM2H visa, allowing holders to reside anywhere in Malaysia, including Kuala Lumpur and Penang, among other states.
Forest City SFZ MM2H Benefits: Residency Rights and Visa Privileges After Approval
Holders of the SFZ MM2H visa receive a 10-year renewable multiple-entry visa, which covers the main applicant and eligible dependants. This long-term pass allows continuous residence in Malaysia without the need for frequent renewals. While it does not automatically permit employment, applicants may apply separately for a work or business visa if required.
Beyond the residency benefits, participants gain access to the wider Forest City SFZ ecosystem, designed to combine convenience, safety, and international connectivity. Key features include:
Proximity to Singapore via the Malaysia–Singapore Second Link, located about two kilometres across the Johor Strait.
Duty-free zone status, offering cost advantages on select imports and consumer goods.
A secure, master-planned community with 24-hour property management, monitored transport networks, and a dedicated security system.
A diverse, international environment, home to residents from more than 20 nationalities.
International school within the township and access to world-class healthcare facilities nearby.
Two championship golf courses, including the Liang Guo Kun Classic Course—listed among Asia’s Top 100 Golf Courses for seven consecutive years—and the Jack Nicklaus Legacy Course.
Upon completing the property purchase, participants may withdraw up to 50% of their fixed deposit, subject to compliance with programme conditions. Dependants typically include a spouse and unmarried children under 21.
Taken together, the SFZ MM2H programme’s structure offers participants a dual proposition: a streamlined path to long-term Malaysian residency, combined with access to a master-planned development designed around security, connectivity, and urban infrastructure.
Residents most suitable for Forest City SFZ MM2H
The Forest City SFZ MM2H is designed for people looking to make Malaysia a part of their long-term plans — for retirement, regional investment, or raising a family in a globally connected environment. The programme pairs the stability of a 10-year renewable visa with the lifestyle advantages of living in a self-contained, internationally planned coastal city.
For retirees, the SFZ MM2H offers one of the lowest financial thresholds under any MM2H tier, making long-term residency more accessible without compromising comfort or quality of life. Forest City’s master-planned layout, secure environment, and proximity to Singapore provide a practical setting for those seeking a calm yet connected lifestyle.
For professionals and family offices, the Special Financial Zone introduces strategic incentives, including 0% tax on qualifying family office investment income and a 5% corporate tax rate for financial institutions. It is an option worth considering for those exploring Malaysia as a hub for cross-border business or wealth management. Details are available on the investment page.
For families, Forest City offers access to an international school education covering kindergarten to high school, combining global curricula with local convenience. Its location — just two kilometres from Singapore via the Second Link — appeals to parents seeking strong education options and ease of travel at a more affordable cost.
That said, the SFZ MM2H may not suit every applicant, as it requires the purchase of a Forest City property. However, owning a property does not mean the MM2H holder must live in it — the holder may rent it out, and as an approved participant, can reside anywhere in Malaysia, including Kuala Lumpur, Penang, and other states. Even without committing to a specific long‑term base in Johor, this pathway remains one of the most accessible residency pathways available in Malaysia, balancing affordability, stability, and proximity to Singapore.
As with any long-term visa programme, requirements and processing timelines are subject to change, and applicants should seek accurate, up-to-date advice before applying. The requirements outlined here reflect information available as of 29 May 2026 — for current terms and application timelines, consult Forest City officials or other authorised agents accredited under the Tourism Industry Act 1992.
Hashtag: #ForestCity
The issuer is solely responsible for the content of this announcement.
Husk Power Systems has announced a major expansion of its decentralized energy operations, revealing that more than 2.2 million people across Africa and Asia now benefit from its solar minigrid electricity network.
The clean energy company disclosed in its Q1 2026 impact update that it currently operates in over 400 communities, with installed capacity rising to 47.4 megawatts, underscoring the accelerating adoption of off-grid renewable energy solutions in underserved regions.
Husk said the expansion reflects growing demand for reliable electricity in rural and peri-urban communities where national grid access remains limited, unstable, or entirely unavailable.
Brandspur Energy & Mining News Desk reports that the company’s minigrid systems now deliver an average of 20 to 22 hours of daily electricity supply in many locations, a performance level that, in some cases, exceeds grid reliability in several developing markets.
According to the report, Husk Power’s operations have also contributed to significant environmental gains, with more than 83,000 tonnes of carbon dioxide emissions reportedly avoided through the deployment of solar-based energy infrastructure.
In Nigeria alone, the company has installed 66 minigrid plants over the past six years, positioning the country as a key growth hub within its African expansion strategy.
Beyond power generation, Husk Power is increasingly focusing on data-driven impact measurement. It recently partnered with the World Bank and Swedfund to launch a Randomized Controlled Trial in Nigeria aimed at assessing how minigrid electrification influences local economic activity, productivity, and household income levels.
The initiative is expected to generate evidence on the broader development impact of decentralized renewable energy systems, particularly in relation to rural economic inclusion and small business growth.
The company also highlighted the expansion of its residential solar brand, BEEM, which provides households and small enterprises with simplified access to clean energy solutions through a digital, multilingual platform.
Husk Power’s global profile has further strengthened with the appointment of its chief executive officer, Manoj Sinha, to the Mission 300 Private Sector Council, an initiative targeting electricity access expansion to 300 million Africans by 2030.
The company’s latest figures reinforce the growing role of minigrid operators in addressing Africa’s persistent energy access gap, as governments and development partners increasingly turn to decentralized renewable systems to support electrification, economic development, and climate goals.
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