Technology

Ng Teng Fong Charitable Foundation and Sino Group Support Hong Kong’s Innovation and Technology Development

Published

2 years ago

March 11, 2025

Donation of HK$200 million to Encourage Local AI Research and Applications

HONG KONG, March 11, 2025 /PRNewswire/ — The Ng Teng Fong Charitable Foundation (NTFCF) and Sino Group are dedicated to nurturing talent and cultivating a vibrant innovation and technology ecosystem in Hong Kong. To further this aim and encourage innovative technological applications, as well as to attract and retain more talent, NTFCF and Sino Group have announced a donation of HK$200 million to support the Hong Kong Generative AI Research and Development Center (HKGAI) under InnoHK Research Clusters initiative (InnoHK). This funding will facilitate the further development of locally created artificial intelligence (AI) tools for industry and public use to enhance daily life. The broader application and development of AI technology will nurture ‘new quality productive forces’ in the long run, reinforcing Hong Kong’s position as a leading international hub for innovation and technology.

InnoHK, spearheaded by the Innovation and Technology Commission, is the flagship innovation and technology initiative of the Hong Kong SAR Government to promote global research collaboration and cultivate talents in Hong Kong. Established in 2023 and with the Hong Kong University of Science and Technology (HKUST) as the lead institution, HKGAI is the only centre under InnoHK specialising in generative AI technology, and recently launched Hong Kong’s first AI large language model, HKGAI V1, which is also the first in the industry to be based on the DeepSeek full-parameter fine-tuning research model.

The donation ceremony was attended by notable guests, including Mr Paul Chan, GBM, GBS, MH, JP, FinaLIncial Secretary of the Hong Kong Special Administrative Region; Professor Sun Dong, JP, Secretary for Innovation, Technology and Industry; Ms Lillian Cheong, JP, Under Secretary for Innovation, Technology and Industry; Mr Ivan Lee, JP, Commissioner for Innovation and Technology; Professor Guo Yike, Provost of the Hong Kong University of Science and Technology and Director of the InnoHK Hong Kong Generative AI Research and Development Center; Mr Daryl Ng, SBS, JP, Director of the Ng Teng Fong Charitable Foundation and Deputy Chairman of Sino Group; Ms Nikki Ng, Director of the Ng Teng Fong Charitable Foundation and Director of Philanthropy of Sino Group; Mr David Ng, Director of the Ng Teng Fong Charitable Foundation and Group Associate Director of Sino Group, among others. They joined to express support and hope for the continued development of AI technology in Hong Kong.

Mr Paul Chan, GBM, GBS, MH, JP, Financial Secretary of the Hong Kong Special Administrative Region expressed his heartfelt gratitude to the Ng Teng Fong Charitable Foundation and Sino Group for their support. He said that currently, AI is undergoing rapid development, which is redefining the core competitiveness of economies and reshaping the medium- to long-term landscape of the global economy. During the third session of the 14th National People’s Congress and the third session of the 14th Chinese People’s Political Consultative Conference National Committee last week, Premier Li Qiang mentioned the need to continue advancing the ‘AI+’ initiative in the Government Work Report, emphasising support for the extensive application of large-scale AI models, as well as the integration of digital technologies with our country’s manufacturing and market strengths. By fostering closer collaboration among the Government and the industry, academia, research and investment sectors, accelerating the development of AI as a core industry of Hong Kong, the city can be developed into an international exchange and co-operation hub for the AI industry.

Professor Harry Shum, BBS, Chairman of the Council of the Hong Kong University of Science and Technology, said, ‘We are immensely grateful to NTFCF and Sino Group for their generous donation to HKGAI. This support will undoubtedly accelerate the development of artificial intelligence in Hong Kong at a faster pace. As the home of HKGAI, we are proud of its achievements and firmly believe that, with the support of the Hong Kong SAR Government and society, HKGAI will continue to contribute positively to the advancement of AI.’

Professor Nancy Ip, SBS, BBS, MH, JP, President of the Hong Kong University of Science and Technology, added, ‘Artificial intelligence is a key focus for our university. We are proud of HKGAI’s milestones and sincerely thank NTFCF and Sino Group for their support. We hope HKGAI can meet the high expectations of the community and continue to achieve breakthroughs. HKUST is committed to providing comprehensive support to advance HKGAI in the field of AI.’

Professor Guo Yike, Provost of the Hong Kong University of Science and Technology and Director of the InnoHK Hong Kong Generative AI Research and Development Center, stated, ‘This generous donation will provide tremendous momentum to our research and development efforts. While expressing our profound gratitude, we are deeply aware of the expectations from Hong Kong society and the responsibilities that lie on our shoulders. Having recently launched our new model HKGAI V1, we are currently fully engaged in developing and optimising this model as well as a series of applications. In particular, we are developing the “HKChat”, a locally developed AI chatbot service to be used by Hong Kong citizens. This donation has provided crucial support for this endeavour. We will strive to ensure our work meets and exceeds the expectations.’

Mr Daryl Ng, SBS, JP, Director of the Ng Teng Fong Charitable Foundation and Deputy Chairman of Sino Group, remarked, ‘The Central Government and the Hong Kong SAR Government are committed to promoting innovation and technology while proactively enhancing strategies for AI advancement. Through collaborative efforts across sectors, the acceleration of “new quality productive forces” that leverage Hong Kong’s competitive edge can be achieved. We are pleased to foster the holistic development of the I&T ecosystem, nurturing talent and promoting the exchange and application of technology, and supporting the government’s goal of attracting and encouraging more international talent to Hong Kong. It is an honour to contribute to this significant milestone for AI development in Hong Kong, facilitating that locally developed AI platforms are accessible to both industry and the public. We are thankful for the opportunity to support the development of a more inclusive AI future that will benefit the lives of the people of Hong Kong.’

Sino Group has long promoted a diverse innovation and technology ecosystem, cultivating an innovative spirit from an early age and fostering a culture of innovation and technology. In 2014, the ‘Go Code’ programme was launched to provide free coding courses and robotics classes to over 6,000 underprivileged primary school students over five years. The annual Hong Kong Science Fair, inaugurated in 2021, has provided a platform for young inventors, and has received over 1,500 projects from primary and secondary school students and attracted nearly 70,000 attendees to date.

In addition, the Sino Inno Lab was established in 2018, to serve as a collaborative sandbox for start-ups, inventors, and technology companies from Hong Kong, Mainland China and overseas. This platform showcases proof-of-concept developments and fosters the co-creation of innovative solutions. Last year, Sino Inno Lab relocated to a strategic site in the Northern Metropolis, alongside the establishment of The Spark, which provides an open exchange platform and shared workspace for I&T talents. This initiative enhances collaboration between start-ups and technology companies, solidifying Hong Kong’s role as a vital link between the Guangdong-Hong Kong-Macao Greater Bay Area, Mainland China and the global market, and thereby opening broader development opportunities for the local innovation and technology sector.

About Sino Group

Established in 1971, Sino Group comprises three listed companies – Sino Land Company Limited (HKSE: 083), Tsim Sha Tsui Properties Limited (HKSE: 0247), Sino Hotels (Holdings) Limited (HKSE: 1221) – and private companies held by the Ng Family.

As one of Hong Kong’s leading property developers with core businesses in property development and investment, Sino Group has grown with the communities it serves. The Group’s business interests comprise a diversified portfolio of residential, office, industrial, retail and hospitality properties across Hong Kong, mainland China, Singapore and Australia, and has developed over 250 projects, spanning more than 130 million square feet. Core business assets are further complemented by property management services, hotel investment and management, including The Fullerton Hotels & Resorts and other affiliate brands.

With over 11,000 committed staff members, the Group strives to fulfil its vision of Creating Better Lifescapes with a focus on three interconnected pillars – Green Living, Community Spirit and Innovative Design – shaping the cities we call home where people live, work and play. Sustainability is central to what we do as we seek to create value for stakeholders and make business a driver of sustainability for a better future.

www.sino.com

About Ng Teng Fong Charitable Foundation

The Ng Teng Fong Charitable Foundation was established in 2010 in memory of the late founder of the Sino Group, Mr Ng Teng Fong. The Foundation steadfastly advocates education, youth development and community services. In the past years, the Ng Teng Fong Charitable Foundation has supported over 300 local NGOs and community partners. In addition to supporting good causes such as the Hong Kong Arts Festival, the National Gallery of Singapore as well as restoration of the Great Wall and Yanxi Gong, the Foundation provides financial assistance for students from less-resourced families in Hong Kong and mainland China through the Ng Teng Fong Scholarships. It also supports scholastic initiatives of Peking University, Tsinghua University and Zhejiang University in mainland China as well as the National University of Singapore, Singapore University of Technology and Design and Nanyang Technological University in Singapore.

www.ntfcf.org.hk

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SOURCE Sino Group

Technology

Lovey announces £250m senior secured credit facility with Pollen Street Capital

Published

6 minutes ago

October 27, 2026

UK’s fastest-growing fintech announces its largest funding facility to date to support more UK SMEs

BIRMINGHAM, England, Oct. 27, 2026 /PRNewswire/ — Lovey, the UK’s fastest-growing fintech and financial services provider, specialising in SME lending and brokerage, has today announced a senior secured credit facility of up to £250 million with Pollen Street Capital (“Pollen Street”), an alternative asset manager. The facility is made up of £50 million committed capital and a £200 million accordion, making it the largest funding facility in Lovey’s history and marking a key milestone in the company’s growth.

The facility demonstrates continued institutional investor confidence in Lovey’s lending model, technology and long-term strategy and reinforces Lovey’s position as a leading finance provider focusing on SME funding. The facility will significantly increase Lovey’s lending capacity, supporting the business as it scales its own-book lending while continuing to grow its established brokerage proposition.

Founded by Jack Smith in 2016, Lovey has grown from a one-person start-up into a 120-strong business, funding more than £600 million in loans to over 11,000 UK SMEs. Built around a mission to make lending simple, fast and beautiful, Lovey has expanded rapidly while staying focused on making finance easier and more accessible for small businesses. The new facility will support that mission by giving Lovey the capital to help more UK SMEs access funding quickly and flexibly.

Lovey began lending directly from its own balance sheet in 2022, building on its experience as a broker to develop a deeper understanding of the funding needs of UK SMEs. Today, the business combines direct lending with its established brokerage proposition, giving customers access to both Lovey’s own lending and a wider panel of funding partners. This approach allows Lovey to match businesses with the funding solution that best suits their needs, while the new facility provides greater capacity to grow its direct lending operation.

Jack Smith, Founder and CEO at Lovey, comments:
“This new facility is an important milestone for us and will enable us to put more capital behind UK small businesses, scale our own-book lending and give more SMEs access to finance when they need it. Pollen Street shares our belief that finances for small businesses should be simpler, faster and more flexible, and we’re really pleased to have them backing Lovey for this next stage of growth.”

Kai Hunter, Chief Operating Officer at Lovey, comments:
“The funding announced today is the result of close and collaborative work with Pollen Street and I am grateful to their team, and to our own, for the diligence they brought to it. This funding deepens our lending capacity and allows us to offer larger loans, so that we can back more of the UK’s small and medium-sized businesses, from those that have found finance hardest to secure to the well-established, with greater speed and certainty.”

Ethan Saggu, Investment Director, Pollen Street, adds:
“Lovey has spent almost a decade seeing the UK SME lending market from a broker’s perspective, giving the team an expert view of where demand for credit is going unmet. We have financed a number of specialist SME lenders and recognise what it takes to grow from brokerage into balance-sheet lending. Lovey has done so with a well-defined product and a focused approach, and we look forward to supporting the team as it scales.”

Lovey was advised by Ashurst Perkins Coie and Pollen Street was advised by Simmons & Simmons.

The facility builds on Lovey’s existing funding arrangements announced last year, including a £35 million revolving credit facility from Paragon Bank and a £10 million junior medium-term note programme from LGB Capital Markets. The new facility also adds to Lovey’s growing institutional funding base as it enters its next phase of expansion.

To learn more about Lovey or to apply for a fast, flexible business loan, visit Lovey’s website.

For any further information, please contact: press@lovey.com

About Lovey (the trading name of Love Finance Limited):
Lovey is the UK’s fastest-growing fintech and financial services provider, specialising in SME lending and brokerage. Founded in Birmingham in 2016 by Jack Smith, Lovey has a mission to make lending simple, fast and beautiful. The company has funded more than £600 million in loans for over 11,000 SMEs across the UK.

Recognised by EY, Deloitte, The Sunday Times, Financial Times, UK Growth Index, FEBE, and Sifted as one of the UK’s fastest-growing companies. Lovey combines direct lending and brokerage services to deliver fast, flexible, and tailored funding solutions. With an industry-leading 4.9-star Trustpilot rating, businesses can enquire in 60 seconds and receive funding in as little as 4 hours.

Website: www.lovey.com

Pollen Street Press Office:
FGS Global
Chris Sibbald / Anna Tabor
PollenStreetCapital-LON@fgsglobal.com

About Pollen Street:
Pollen Street is a fast-growing and high performing private capital asset manager. Established in 2013, the firm has built deep capability across the financial and business services sectors aligned with mega-trends shaping the future of the industry. Pollen Street manages over €9bn AUM across private equity and credit strategies on behalf of investors including leading public and corporate pension funds, insurance companies, sovereign wealth funds, endowments and foundations, asset managers, banks, and family offices from around the world. Pollen Street has a team of over 100 professionals.

www.pollenstreetgroup.com

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Technology

Baidu to Report Third Quarter 2026 Financial Results on November 16, 2026

Published

6 minutes ago

October 27, 2026

BEIJING, Oct. 27, 2026 /PRNewswire/ — Baidu, Inc. (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) (“Baidu” or the “Company”), a leading AI company with strong Internet foundation, today announced that it will report its financial results for the Third Quarter 2026 ended September 30, 2026, before the U.S. market opens on November 16, 2026. Baidu’s management will hold an earnings conference call at 7:30 AM on November 16, 2026, U.S. Eastern Time (8:30 PM on November 16, 2026, Beijing Time).

Please register in advance of the conference call using the link provided below. It will automatically direct you to the registration page of “Baidu Inc. Q3 2026 Earnings Conference Call”. Please follow the steps to enter your registration details, then click “Register”. Upon registering, you will then be provided with the dial-in number, the passcode, and your unique access PIN. This information will also be emailed to you as a calendar invite.

For pre-registration, please click:
https://s1.c-conf.com/diamondpass/10057872-oyt4z8.html

In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), the passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.

Additionally, a live and archived webcast of this conference call will be available at https://ir.baidu.com.

A replay of the conference call may be accessed by phone at the following number until November 24, 2026:
US: 1 855 883 1031
Replay PIN: 10057872

About Baidu

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on Nasdaq under “BIDU” and the HKEX under “9888.” One Baidu ADS represents eight Class A ordinary shares.

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SOURCE Baidu, Inc.

Technology

IBS Software’s iCargo to power Philippine Airlines Cargo Modernisation

Published

6 minutes ago

October 27, 2026

Airline to move from its current cargo system to a modern, cloud-based platform covering cargo sales, ground handling operations and revenue accounting

MANILA, Philippines, Oct. 27, 2026 /PRNewswire/ — IBS Software’s iCargo, a cloud-based platform bringing cargo sales, ground handling operations and accounting together, has been selected by Philippine Airlines (PAL) to replace its current cargo system. The implementation will extend iCargo’s capabilities across PAL’s domestic and international cargo operations.

As the leading AI-native product company in the travel technology sector, IBS Software will support PAL’s broader cargo transformation and modernisation programme with capabilities that support PAL’s full range of business functions, from commercial and operations to back-office accounting, while enabling further innovation and digitisation through a single, fully integrated cloud-based platform. iCargo will support cargo movements across PAL’s domestic and international operations, including international requirements such as customs reporting, duties and taxes settlement and regulatory compliance. iCargo already supports carriers with this same mix of demands, providing the flexibility, scale and capabilities to manage both.

The transition will enable PAL to address key operational requirements across its cargo operations, including system performance and data analytics. iCargo will provide modern capabilities to support faster shipment processing, greater reliability and end-to-end shipment visibility, while reducing manual intervention and enabling more efficient processes.

Beyond operational efficiency, these capabilities will help PAL Cargo bring its ‘Care that Delivers’ promise to life, giving customers greater confidence through improved shipment visibility, reliable service and a more seamless cargo experience. As cargo volumes continue to grow across its network, the new platform will also provide the technological foundation for continued innovation, operational excellence and long-term growth.

IBS Software’s proposal combined a strong technology fit with a proven track record of delivering successful cargo transformations for airlines worldwide. The selection of iCargo builds on an established relationship between Philippine Airlines and IBS Software, broadening the portfolio of IBS Software products used by PAL and reinforcing their shared commitment to long-term innovation and business growth.

“This initiative represents an important step in the modernisation of our cargo business,” said Jason Siy, Vice President for Cargo Business, Philippine Airlines. “As we grow across our domestic and international network, we need a system that increases visibility, improves operational efficiency and enables us to deliver a better experience for our customers. We see iCargo as a key enabler of our long-term cargo transformation strategy and of our ambition to build an even stronger cargo business for the future.”

“Philippine Airlines has a clear vision for the future of its cargo business, and we are proud to support that journey,” added Sunil George, Vice President & Region Head of Oceania, IBS Software. “This partnership is about more than implementing a new cargo platform. It is about working closely with PAL to build the digital foundation for future growth, innovation and operational excellence, and continuing a relationship we value deeply.”

For more information about IBS Software’s iCargo solution, visit: https://www.ibsplc.com/product/air-cargo-solutions/icargo.

About IBS Software

IBS Software is a leading travel technology company delivering AI-native travel intelligence that enables smarter, faster and more resilient decision-making, with built-in guardrails across aviation, cargo and logistics, and leisure and hospitality. It powers core capabilities for leading travel brands worldwide, spanning airline retailing, passenger services, loyalty, fleet, hub and crew operations, cargo management, and cloud-native platforms for hotels and cruise line operators, and operates from 17 offices globally.

Further information can be found at www.ibsplc.com. Follow us:
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About Philippine Airlines

Philippine Airlines (PAL) is the Philippines’ flag carrier and the country’s only full-service network airline. Founded in 1941, PAL is Asia’s first commercial airline and has played a vital role in connecting the Philippines to the world for 85 years.

PAL operates scheduled nonstop flights from its hubs in Manila and Cebu to 29 destinations across the Philippines and 40 destinations in Asia, North America, Australia, and the Middle East.

PAL is an APEX Four Star™ airline and was recognised by Cirium for achieving the highest on-time performance among Asia-Pacific carriers in 2025. In 2026, Philippine Airlines was officially invited to join the oneworld® Alliance.

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SOURCE IBS Software