Category: 3. Business

  • For the Telenor acquisition to work, PTCL needs to be able to raise prices

    For the Telenor acquisition to work, PTCL needs to be able to raise prices

    Pakistan Telecommunication Company Ltd (PTCL) has finally closed its long-anticipated purchase of Telenor Pakistan – a transaction that has been years in the making and, in many ways, a referendum on whether Pakistan’s telecoms market can move from destructive price wars to something closer to “pricing power”.

    In a filing with the Pakistan Stock Exchange, PTCL said it has completed the acquisition of 100% shareholding of Telenor Pakistan (Pvt) Ltd and Orion Towers (Pvt) Ltd on 31 December 2025, with shares transferred into PTCL’s name. The deal was first announced in December 2023, and has created a combined operator that is a much stronger No. 2 in the market.

    The purchase has never been framed as a bargain-basement tuck-in. The agreed purchase price to acquire Telenor Pakistan on an enterprise value of Rs108 billion, on a cash-free, debt-free basis. And PTCL arranged up to $400 million of financing with an IFC-led consortium (including the Silk Road Fund and British International Investment), a seven-year facility with quarterly repayments.

    That arithmetic dictates the core question for investors: what has to happen for PTCL to earn an adequate return on a heavily leveraged, politically sensitive, regulator-scrutinised telecoms consolidation?

     

    To read the full article, subscribe and support independent business journalism in Pakistan

    The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account.

    Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.

    (Already a subscriber? Click here to login)
    • Full Price Subscription Plans

      Not only will you be supporting independent journalism, 25% of the amount from your subscription will be used to subsidise those subscribers who cannot afford the full price of the subscription. As a subscriber you will get full access to exclusive paywalled content, and an ad free reading experience. Yearly full price subscription plans also include a complimentary annual subscription to The Wall Street Journal.

      +

    • Subsidised Subscription Plans

      Pay part of the full subscription price, if you cannot afford to pay all of it, and the rest will be subsidised by a full paying subscriber. As a subscriber you will get access to exclusive paywalled content, and an ad free reading experience.

    • Free Student Subscriptions

      If you are currently a student, you can claim an already-paid-for digital subscription, courtesy

      As a subscriber you will get access to exclusive paywalled content, an ad free reading experience.

       


    Continue Reading

  • Samsung Presents ‘Your Companion to AI Living’ at The First Look During CES 2026

    Samsung Presents ‘Your Companion to AI Living’ at The First Look During CES 2026

    Entertainment Companion: Extending the Experience Beyond Simple Viewing

    SW Yong, President and Head of the Visual Display (VD) Business at Samsung Electronics, and Sukhmani Mohta, Chief Marketing and Partnerships Officer, VD Business at Samsung Electronics America took the stage to describe how Samsung’s displays are combining hardware excellence and visual intelligence to provide a true entertainment companion. Drawing from twenty years of leading the TV industry, Samsung has built a full AI TV lineup that provides an entirely new way for users to interact with their TV.

    The center of the display lineup is the 130-inch Micro RGB, which represents a monumental leap in scale and picture quality. The 130-inch Micro RGB marks a new era of color, featuring the widest and most detailed spectrum ever seen in Samsung TVs while its Timeless Frame design minimizes distractions and allows the picture to take center stage with understated elegance. A micro-sized RGB light source drives the unprecedented picture quality, with each microscopic red, green, and blue diode shining independently to produce color in its purest, most natural form. Micro RGBAI Engine Pro enables precise control of RGB colors and creates overwhelmingly vivid picture quality in every scene.

    Elevating this next-level viewing experience, Vision AI Companion (VAC)1 uses AI technology to work alongside users as a full entertainment companion to enhance viewing, dining, and mood, anywhere in the home. With it, users can receive guidance on what to watch, what to eat, and what music to listen to, enhancing the overall TV experience in a way that extends far beyond simple viewing.

    Samsung also offers intuitive modes to personalize the viewing experience. For soccer fans, AI Soccer Mode Pro delivers a more exciting gameday experience through AI-driven picture and sound tuning to stadium-level quality. AI Sound Controller Pro lets you raise or lower the volume of the crowd, commentary, or background music, providing a personalized listening experience for TV shows and movies. Users can simply make verbal requests, and any TV equipped with VAC – which includes Micro LED, Micro RGB, OLED, Neo QLED, Mini LED and UHD TV – contextually carries out those requests.

    Across different types of programming, VAC also boosts the overall lifestyle experience. It allows users to find recipes for meals they see on TV by simply asking and uses the most up-to-date information to make recommendations that align with health and fitness goals. VAC offers multi-device functionality, as well, sending recommended recipes directly to other devices like the newly-unveiled The Movingstyle, designed to move easily throughout the home and kitchen appliances, for a multi-device experience achieved through complete ecosystem integration.

    Samsung has led the global soundbar market for 11 consecutive years. This year, it is introducing two new WiFi speakers, the Music Studio 5 and 7, to further expand its integrated ecosystem. These models support a wider range of sound system combinations, enhance audiovisual quality, and improve the aesthetics of any space. Each model shares a timeless, dot design concept by renowned designer Erwan Bouroullec, inspired by a universal symbol in music and art and grounded in Samsung’s signature design language.

    Samsung also unveiled a host of new products that blend beautifully with users’ homes and aesthetics.  The new, ultra-thin OLED S95H features a refined bezel that gives it art gallery elegance, and Samsung’s new portable projector, The Freestyle+, is powered by VAC and allows users to view content on walls and ceilings, as well as uneven surfaces like corners and curtains.

    The 2026 TV lineup2 supports HDR10+ ADVANCED, delivering enhanced brightness, genre-based optimization, intelligent motion smoothing, advanced local tone mapping, and improved gaming experience.

    As HDR10+ adoption grows among major OTT providers, Samsung will be the first to launch HDR10+ ADVANCED in its 2026 TV lineup. Samsung also features Eclipsa Audio, the company’s new spatial sound system, introduced across all 2026 TVs.

    Samsung also unveiled its most advanced Odyssey gaming monitor lineup yet, introducing five new models that push the boundaries of resolution, refresh rate, and immersive visual performance. Led by Samsung’s first 6K 3D Odyssey G9, the 2026 lineup debuts world-first display technologies for gamers and creators, including the next-generation Odyssey G6 and three new Odyssey G8 models.

    At the center of all these display innovations is the most powerful Tizen OS yet. Users can now enjoy seven years of Tizen OS upgrades, ensuring that TVs continue to evolve long after they have entered the home.

    Vision AI

    Home Companion: Connected Smart Appliances That Guide You Through Your Day

    Cheolgi Kim, Executive Vice President and Head of Digital Appliances (DA) Division at Samsung Electronics, and Elizabeth Anderson, Head of Integrated Marketing, DA at Samsung Electronics America (SEA) outlined Samsung’s vision to evolve from providing home appliances to true home companions that work to eliminate the stress of daily chores. Cheolgi Kim also announced that as of December 2025, SmartThings now serves more than 430 million users, empowering Samsung with a significant scale and depth of insight that sets it apart from other brands.

    This insight comes to life with the Family Hub. The AI-enabled refrigerator is the centerpiece of the home and now, with an upgrade to AI Vision built with Google Gemini3, it redefines living for an AI future. With this update, AI Vision unlocks existing limitations in recognizing food items, seamlessly tracking what is placed into and taken out of the refrigerator, making meal planning and food management simpler than ever4. The Family Hub has won 10 CES Innovation Awards so far, and Samsung’s AI-enabled fridges have received the award for the past three years.

    Through a gamified feature called “What’s for Today?”5, select refrigerators provide recipe recommendations based on what is in the refrigerator or also random recommendations, reducing the stress caused by choosing what to cook. When selected, recipes show up through SmartThings Food, where users receive a step-by-step guide to help them get started instantly. The selected recipe can also be sent to connected cooking appliances to begin the process seamlessly. Video to Recipe adds even more simplicity, providing users with recommended cooking videos and converting those videos into easy-to-follow steps, allowing users to follow along while they cook without pausing the video or backtracking.

    Samsung also unveiled FoodNote, a new, weekly report that recaps users’ food intake patterns, from most-used ingredients and recipe recommendations, and which items it’s time to restock. Additionally, Now Brief6 includes more widgets on the Family Hub screen and with Voice ID7, can distinguish between family members and display content relevant to each individual. Ultimately, these features come together to provide various helpful insights and information throughout the week.

    In the laundry room, the Bespoke AI Laundry Combo removes the need to transfer loads of laundry, solving a major pain point for households. This year’s model comes with enhanced features, like a faster super speed cycle and enhanced drying performance. Moreover, Samsung’s new Bespoke AI AirDresser is here to solve another common problem with your clothes. It features Auto Wrinkle Care, which blasts strong air and steam jets to smooth out shirts. All users have to do is hang their shirt and wait, reducing the burden in busy mornings.

    Around the house, the Bespoke AI Jet Bot Steam Ultra, powered by a Qualcomm Dragonwing processor, features an Active Stereo 3D Sensor to recognize liquids8 like coffee, juice, or even transparent liquids like water. While its camera helps with navigation, it also allows the robot vacuum to serve as a monitoring device for when users are away from home, notifying them about their pets and whether there is any suspicious activity9. Plus, with a smarter Bixby10, users can speak conversationally to their robot vacuum to carry out tasks with ease. For the deep level of connectivity and integration that forms the backbone of a holistic, AI-powered experience, Samsung’s Bespoke AI appliances have received a CES Innovation Award.

    Additional benefits include a first-of-its-kind partnership with Hartford Steam Boiler (HSB) to help unlock real, meaningful savings to the smart home experience. HSB President and CEO Greg M. Barats joined the presentation to discuss the partnership, explaining the potential benefits of having smart appliances connected to SmartThings to reduce insurance premiums. This is the best of the AI era – increased protections and reduced costs for users. After a successful pilot run in the U.S. in 2025, the collaboration is expanding to more states across the U.S., as well as to leading home insurance carriers in other global regions.

    Care Companion: Shifting From Reactive to Proactive Care

    Finally, Praveen Raja, Vice President and Head of Digital Health at Samsung Research America (SRA), introduced Samsung’s long-term vision for intelligent care enabled by Samsung’s integrated device ecosystem, redefining care as a reactive need to a proactive opportunity. With AI, phones, appliances, wearables, and other connected devices will help users prevent potential health concerns before they occur.

    For example, Samsung aims to provide personalized health coaching, offering effective exercise and sleep coaching to help decrease risk for major chronic diseases and also suggesting appropriate recipes based on ingredients available in connected refrigerators. Additionally, if any abnormal signs or patterns are detected, it will alert users while allowing their health metrics to be shared with providers via the Xealth platform and to facilitating virtual professional consultations.

    Recognizing the importance of preventative health, Samsung is also expanding its capabilities in dementia detection through research partnerships, with wearable devices registering subtle changes to mobility, speech and engagement that can be indicative of long-term cognitive changes.

    Samsung Knox and Knox Matrix serve as the foundation of this hyper-personalized ecosystem, safeguarding user data at every turn. As AI is constantly evolving, so are Knox and Knox Matrix. To maintain security despite constant changes, Samsung’s security systems are consistently identifying AI risks by advancing to protect data in AI training processes and approving models through red team analysis.

    The Samsung Exhibition Zone at CES is available to the public Jan. 4-7. For more information, visit the Samsung Newsroom.

    1 Feature available in certain regions and models. Availability and supported features may vary by region and watching conditions. Voice commands recognize English, French, Spanish, Portuguese, German, Italian, and Korean, but not all accents, dialects, and expressions are recognized. This feature provides AI-created content, with accuracy not guaranteed, so results should be confirmed. Requires a specific Bluetooth remote (TM2660H/TM2661H) (sold separately on some models). In-box remote for some models (M70H/U800H) does not support voice recognition. Requires either a Mobile Quick Remote or separately purchased Bluetooth remote. Feature accessible with the AI button or the Home button (via long press) on remote controls without an AI button.
    2 HDR10+ ADVANCED will be available on the following models: QN990H, R95H, S95H, S90H, R90H, S85H, LS03HW, LS03H, and QN80H.
    3 Google Gemini is provided by Google LLC. Service availability, supported functions, and accuracy may vary by country, language, device model, and OS/One UI version. Users must be 18 or older. Some functions may require additional app settings, and features or results may vary by subscription.
    4 AI Vision refers to the refrigerator’s internal camera and AI-based processing that helps recognize food items. A Wi-Fi connection and a Samsung account are required. If a food item is not recognizable, it may be listed as an unknown item. AI Vision cannot identify or list any food items in the freezer. Recognition uses AI models that may be updated periodically to help improve performance. The user may need to manually check and adjust the list to ensure its accuracy.
    A red light turns on when the camera is operating. The user’s appearance may be captured, but areas other than the food item are automatically blurred.
    5 A Wi-Fi connection and a Samsung account are required
    6 A Wi-Fi connection and a Samsung, Google, or Microsoft account may be required. You must use the same log-in account on each of the devices. Availability of certain apps may vary by country, region, service provider, network environment, or device, and may change without notice.
    7 Each user must register for a Samsung Account on screen appliances in advance. Up to six accounts can be registered on a single device. To use Voice ID, users must have agreed to the Bixby terms and conditions. Voice ID registration is available on select appliances, TVs and mobiles, and only one voice can be registered per account.
    8 A liquid spill is defined as a colored or transparent liquid, such as water or juice, having a size of 7cm x 7cm (15 ml in volume) or larger. Identification may be affected by the size of the liquid or the environmental conditions of the floor, such as the floor pattern, color of the floor, direct or reflected light, or shape of the liquid. Excessive amount of liquid on the floor may cause secondary contamination.
    9 Must download the SmartThings app available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required. Only cats and dogs can be recognized. The recognition capabilities may be limited by the posture or position of a pet. The ability to recognize your pet may vary depending on the type of animal and the living environment. It only recognizes a pet presence based on generic visual indicators, and cannot identify individual pets. Each appliance needs to be set to be optimized for pets by the SmartThings App.
    10 Bixby is Samsung’s brand of Internet of Things (IoT) voice assistant. Bixby service availability may vary depending on the country. Bixby recognizes selected languages and certain accents/dialects, including Korean, English (US/GB/IN), Spanish (MX/ES), German, French, Italian, and Portuguese (BR). The user interface may change and differ by device. The availability of Bixby features and content providers may vary depending on the country/carrier/language/device model/OS version. A Samsung account log-in and data network connection (Wi-Fi or data network) are required.

    Continue Reading

  • Fresno’s first sober bar opens reservations for dry January

    Fresno’s first sober bar opens reservations for dry January

    FRESNO, Calif. (KFSN) — Fresno’s first sober bar is now accepting reservations for those participating in Dry January.

    Lumiere is located inside Sun Stereo Warehouse on Fulton Street.

    The non-alcoholic bar not only serves mocktails but also specialty drinks with adaptogens and mood-enhancing ingredients.

    These beverages have zero sugar and use vitamins to give people a natural buzz without booze.

    The bar’s owner, Joy Alvarado, says they want to offer a sober social scene, “Yes, you can go to a bar and order a mocktail, but you are in a setting where everyone is drinking, but you are essentially in the same playing field in this atmosphere.”

    If you are interested in stopping by, you can make a reservation online at lumieresoberbar.com.

    Copyright © 2026 KFSN-TV. All Rights Reserved.

    Continue Reading

  • CCS’ recent enforcement actions signal increased scrutiny of “dark patterns” in online retail: Allen & Gledhill

    CCS’ recent enforcement actions signal increased scrutiny of “dark patterns” in online retail: Allen & Gledhill










    5 January 2026

    On 8 December 2025, the Competition and Consumer Commission of Singapore (“CCS”) issued a press release announcing that it has found that two retailers of consumer electronics and home appliances, Courts and PRISM+, have used website design features that mislead consumers.

    This article summarises CCS’ findings.

    “Sneak into basket”

    CCS found that Courts engaged in unfair trade practices by charging consumers for products that they had not selected. During certain promotional periods, Courts’ website included additional items into online shopping carts without the consumer’s consent. For example, after a consumer selected an Apple iPad for purchase, an Acer vacuum cleaner also appeared in the cart.

    The CCS press release explains that this practice puts consumers at risk of unknowingly paying for unsolicited items if they fail to notice and remove such items from their online carts before checking out.

    CCS intervened in June 2025 and Courts has given an undertaking to cease this practice immediately. In addition to making changes to its website, Courts also agreed to refund customers affected by this unfair trade practice.

    “False urgency”

    In a separate matter, CCS reviewed certain website design features on PRISM+’s website that were found to create urgency cues during the online purchasing process that could influence consumer purchasing decisions.

    The features identified included the following:

    • Countdown timers on checkout pages displaying messages such as “Popular items are selling fast! Purchase within the next [timer] minutes to secure stock and avoid losing out”. The timers were not connected to inventory systems and reset automatically upon reaching zero without affecting the checkout process.
    • Stock availability indicators stating “In Stock: Running Low” on product pages, even where inventory levels remained substantial. In one instance, the indicator was displayed although monthly sales accounted for only 7% of total available stock. PRISM+ explained that the indicator was applied to products with inventory levels above 100 units; this threshold was not disclosed on the website.
    • Statements suggesting market-wide shortages, including references to supply chain disruptions and industry-wide stock shortages. When queried, PRISM+ was unable to substantiate these statements and indicated that they were made in the context of the Covid-19 pandemic.
    • Discount representations such as “Up to 67% off” for certain products, where the stated maximum discount was not achievable based on the strikethrough prices shown. In one example, the actual discount amounted to 38%. PRISM+ attributed these discrepancies to technical errors.

    PRISM+ has since rectified the relevant website features and provided an undertaking to CCS that it will not engage in unfair trade practices.

    CCS advice to businesses and consumers

    CCS also encouraged consumers to remain vigilant when shopping online, including reviewing their shopping carts for unexpected items, verifying that payment amounts match intended purchases, and questioning the authenticity of urgency claims before making impulse purchases.

    CCS stated that these two interventions form part of its broader enforcement actions against businesses that employ misleading website design features, known as “dark patterns”, to pressure consumers into unintended purchases.

    Scott Clements, Partner of Allen & Gledhill’s Competition & Foreign Investment Review Practice, commenting on the expansion of CCS’ regulatory function over consumer protection on 1 July 2025: “The exercise by CCS of its consumer protection powers in the first six months has been noteworthy but unsurprising. CCS had similarly been purposeful in taking on competition infringements since its inception while concurrently setting out its enforcement philosophy. With those foundations, the Commission has, in the last two decades, built on its track record by taking on increasingly sophisticated and complex antitrust cases.”

    Reference materials

    The following materials are available on the CCS website www.ccs.gov.sg:

    Continue Reading

  • Baker McKenzie Wong & Leow Appoints Kelvin Poa as Country Managing Principal | Newsroom

    Baker McKenzie Wong & Leow Appoints Kelvin Poa as Country Managing Principal | Newsroom


    Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has appointed Kelvin Poa as Country Managing Principal, effective 1 January 2026. Kelvin succeeds James Huang who successfully concluded his term on 31 December 2025, having led the office since 1 January 2023.

    Kelvin is a highly regarded lawyer with more than 27 years of experience in investment funds and employment law. He currently heads the Funds and Employment practice groups at Baker McKenzie Wong & Leow, advising venture capital, private equity, and real estate clients on structuring investments, acquisitions, restructurings, and exits. Kelvin also supports asset management clients in navigating transformational transactions and complex reorganizations.

    In the employment space, Kelvin provides strategic advice on non-contentious matters, including contracts, separation agreements, and restrictive covenants such as non-solicitation and non-competition terms.

    Commenting on his appointment, Kelvin said: “I’m honoured to have been appointed as Country Managing Principal and thank my fellow principals for their trust in me. I would also like to express my appreciation to James for his leadership over the past years, guiding the Firm through post-COVID workplace changes and our office move. I look forward to working closely with our global and regional teams to deliver seamless client outcomes in today’s dynamic market.”

    James said, “I congratulate Kelvin on his appointment. His leadership and expertise in the funds and employment space will undoubtedly take the Firm to even greater heights alongside Singapore’s growth as a regional gateway for international investments, talent development, and workplace transformation.”

    Continue Reading

  • Birkenstock pair buy $85m house

    Birkenstock pair buy $85m house

    This Rose Bay home sold for $85m, the top sale in Sydney over 2025.


    Billionaires Alex and Vanessa Birkenstock, of the German leather sandal-family, are the buyers of an $85m Rose Bay mansion that sold in the days leading up to Christmas.

    The last-minute purchase was the highest residential sale for 2025.

    The couple, who were living in Melbourne, have been looking to buy in Sydney for several years with a budget of up to $200m.

    Alex has long dreamt of sailing on Sydney Harbour. And with their daughters starting at the exclusive Rose Bay school Kambala this year, the search via top buyer’s agent Simon Cohen gathered pace in the last months of 2025.

    With Cohen last spotted in the Maldives and the sales agents, Brad Pillinger of Pillinger and Steven Chen of The Agency, remaining tightlipped on their purchasers, it was left to other sources to spill the beans exclusively to News Corp.

    MORE: George Clooney’s new French home


    An infinity pool, naturally.


    MORE: Packer’s plan for $60m backyard

    They’d had their eye on the five-bedroom residence known as Bayview Hill House in Bayview Hill Rd since its May listing with a $90m guide.

    Vanessa, a British-German model, who had lived in Australia between 2002 and 2012 before she met her German husband, appeared in campaigns for Kenzo, Myer and Bettina Liano.

    She was seen viewing the property late last year with Cohen and loved it so much that she asked her husband to jump on a plane and take a look.

    The luxury home was owned by Lawrence Myers, chief executive of James Packer’s family office Consolidated Press Holdings, and his wife, Sylvia.

    On a 1039sqm block, the grand property, designed by David Walker and Peter Janks, has incredible views of the Harbour Bridge from nearly every room — even the bathtub and gym.

    There’s also a spectacular wet-edge pool with spa and cabana.

    The Myers had bought it from retailer Brett Blundy for $43m in 2018.

    The property had been for sale since last May.


    There’d been hopes of $90m, but still a nice profit for the vendors who paid $43m in 2018.


    The sale slotted in at No.2 in the top 20 sales across the country for the year, with Pillinger having been behind both of the two top Sydney deals, this one for $85m and the third top sale nationwide at $82.5m.

    Michael Pallier, of Sotheby’s, who had $1bn in sales last year, was the agent for six of the top sales.

    The Birkenstocks had also taken a look at the Barangaroo penthouse, which also appears in the top 10 at $80m.

    Vanessa Cush models some of Myer's winter fashion range. Vanessa wears Donna Karan jacket and pants.

    Vanessa Birkenstock pictured in her modelling days.


    Alex and his brother Christian were reported as having been worth US$3.4bn in 2023 after they sold a majority of their stake in the family business a $4.7bn deal two years before.

    The footwear company dates from 1774, with Alex, Christian and their brother Stephan taking control from their father, Karl, in 2002.

    Stephan sold his share in 2013.

    Alex, 57, reportedly also owns property in New York, Miami and southern Germany.

    MORE:

    Ian Thorpe’s big windfall

    Continue Reading

  • NSW residents urged to check if they are owed share of $300m in unclaimed cash

    NSW residents urged to check if they are owed share of $300m in unclaimed cash

    Almost $300 million in refunds, dividends and cheques remain unclaimed by households and businesses across New South Wales, with locals urged to take action to secure the money they are owed.

    Unclaimed cash is held by businesses and can accumulate when money is unable to be returned due to missing paperwork or contact information.

    Money is then passed on to Revenue NSW when further attempts to return the funds are unsuccessful.

    Areas with the most unclaimed cash include Sydney’s CBD and eastern suburbs, where more than $91 million in total is waiting to be snapped up by rightful owners.

    The items range in value from a few dollars to into the millions. (ABC News: Sharon Gordon)

    About $76 million of the money is located in Western Sydney, with $22 million held in the Central Coast and the Hunter.

    Some of the individual unclaimed items are valued in the millions of dollars.

    Minister for Finance Courtney Houssos said there were more than 800,000 individual payments that remained unclaimed.

    Ms Houssos speaking into media microphones at a press conference next to a cricket oval.

    Ms Houssos says there are more than 800,000 unclaimed payments. (ABC News: Victoria Pengilley)

    “This is money that belongs to residents of New South Wales, and we want to get that money back to you,” she said.

    “It ranges from a few dollars to much larger amounts, but we encourage you to jump online and to check it out.

    “This might be that little bonanza that you are waiting for.

    “All you need to do is jump onto the website and search your name.”

    Money unclaimed for years

    Revenue NSW holds an additional $394 million for people registered at addresses outside the state.

    Ms Houssos said some of the money had been sitting unclaimed for “many, many years”, with changes implemented to limit the amount of time businesses could hold onto cash.

    “We’ve also made some legislative changes that mean businesses can only hold onto money for two years instead of six years to make it again easier for people to get access to their money,” she said.

    “We think it’s really important that businesses return that money. If they’re not able to, they return it to the government, and we use our efforts to try and get that money back to residents.

    “Even if someone has passed away, and you’re able to inherit that money, there is also a mechanism for you to access it.”

    Last year, more than $21 million in unclaimed cash was returned to NSW households.

    Anyone who suspects they may not have received money they are owed can visit the Revenue NSW website, where they will be asked to verify their identity and connection to the money.

    Continue Reading

  • President Ito’s 2026 New Year Message (Summary)

    President Ito’s 2026 New Year Message (Summary)

    2025: A Year of Good Performance

    • Performance in 2025 was good, with a Group order backlog of 11.5 trillion yen.
    • We will now continue to live up to the expectations that the market has for us.

    2026: Put ITO into Practice

    • In 2026, I hope that we can put into practice the principle of Innovative Total Optimization (ITO) and pursue great reforms to position MHI Group to bring in higher profits and achieve greater growth in a self-reinforcing positive cycle.
    • First, total optimization will halve lead times and enhance operational productivity. In doing so, we aim to generate 100 billion yen in incremental business profit – which is equivalent to 2% of annual Group revenue – going forward.
    • Further, we will make concrete the growth strategies of each business for domain expansion.

    Treat Changes as Chances and Create Business Opportunities

    • Our business environment remains highly uncertain.
    • However, we must not allow fear to keep us from changing our ways. Instead, we should view change as the new normal and embrace it as a significant opportunity. We ourselves must adapt flexibly, manage the risks accompanying change, and create new business opportunities. Learn to enjoy the change and find the positive aspects.

    Three Requests to Enable MHI Group to Continue Growing in an Uncertain Business Environment

    • Think Big, with the Entire Group in Mind
      Take the time to look up from your day-to-day work and act with pride as a member of the larger team that is MHI Group. Within the Group, there are hundreds to thousands of people working in the same field as you. Imagine building a community within each of those sub-fields to transform your work practices through the ITO principle of total optimization.
      By broadening your perspective to encompass enhanced value chain collaboration, cross-departmental communication, and proactive market analysis, you will find it easier to identify what challenges you should be working on.
    • Think from the Customer’s Perspective
      Focus on what benefits your customers, not just what suits our Group.
      To do this, you need to truly understand your customers. Ask yourself if you know their top concerns and challenges, and whether they are dissatisfied with us, and engage in active communication. The ITO principle of domain expansion begins with fully understanding our customers’ needs and preparing solutions for them. Since customer needs are constantly changing, we must expand the scope of our work accordingly.
    • Iterate Quickly, Beginning with the Things Closest to You
      When starting something new, it’s crucial to begin small and move quickly. Formulate your own hypotheses and verify their effectiveness within a limited scope.
      MHI Group’s products and services really do move the world forward. However, the first step is always a small one, taken at scale where you can still look all of your colleagues in the eye. Find joy in the process of making small improvements (“Kaizen”) and seeing their effects, and in trying new things in rapid succession.

     

    Since becoming president, I have had the opportunity to visit many domestic and international bases and Group companies. Seeing all of you working with such a bright and positive attitude fills me with great pride.
    I am convinced once again that we can achieve significant growth. This year too, let us move the world forward through our work.

    Continue Reading

  • Project win – Sydney Metro West Stations Package West project

    Project win – Sydney Metro West Stations Package West project

    Laing O’Rourke, as part of MetroVista led by Gamuda, has been awarded the contract to deliver the Sydney Metro West Stations Package West project.

    The Sydney Metro West Stations Package West project includes the design and construction of five new underground metro stations and associated precincts at Westmead, North Strathfield, Burwood North, Five Dock, and The Bays. The opening date for the new Metro West Line is targeted for 2032.

    As Delivery Partner for Gamuda, Laing O’Rourke will leverage extensive experience in managing multi-billion-dollar programs to oversee program management of the five non-integrated stations. In addition to the role as a Delivery Partner, Laing O’Rourke will be the Managing Contractor responsible for delivering Five Dock Station.

    This integral station will deliver rail to Five Dock for the first time, providing residents and businesses with fast, direct access to the Sydney CBD and other parts of the metro network. The complex station construction is well suited to Laing O’Rourke’s commitment to modern methods of construction and leverages experience from the world-class Central Station Metro project.

    Five Dock Station marks our fifth Sydney Metro project, reinforcing our reputation as a trusted partner in delivering complex, city-shaping infrastructure.

    “We are proud to play a key role in delivering Metro West, a project that will transform how Sydney moves and connects. Our partnership with Gamuda combines global expertise and local capability to ensure this landmark infrastructure project is expertly managed and delivered to the highest standards,” said Mark Dimmock, Laing O’Rourke Managing Director – Australia.

    _________________

    About Sydney Metro

    Sydney Metro is Australia’s biggest public transport project; building, operating and maintaining a network of four metro lines, 46 stations and 113km of new metro rail to revolutionise how Sydneysiders travel in Australia’s biggest city.

    Metro trains are now running from Sydney’s booming Northwest region under Sydney Harbour, through new underground stations in the CBD.

    Sydney Metro enhances public spaces with vibrant transport precincts, acting as a catalyst for renewal and better connections.

    The metro program creates and supports new communities, improves amenities, and delivers new integrated station developments.

    Continue Reading

  • Victorian towns better equipped to respond to cardiac arrests

    Victorian towns better equipped to respond to cardiac arrests

    In a testament to community preparedness, 72-year-old Lloyd Hosking is alive today thanks to swift action and lifesaving resources in Red Hill – a designated Heart Safe Community.

    On Saturday 10 February 2024, while walking with friends as he does every weekend, Lloyd suffered a sudden cardiac arrest.

    Recognising the signs of cardiac arrest, Lloyd’s friend Ed commenced cardiopulmonary resuscitation (CPR) within 30 seconds.

    A nearby GoodSAM responder was alerted to Lloyd’s condition, arrived to assist, and delivered life-saving shocks using a publicly available automated external defibrillator (AED).

    Ryan Parry, a MICA Paramedic who responded to Lloyd’s case, said that every minute is critical with cardiac arrests.

    “We will get to patients as soon as we possibly can, but with cardiac arrest cases, bystander intervention can mean the difference between a patient having a good outcome or not,” he said.

    “As paramedics, if we are on our way to a cardiac arrest patient, we are relieved when bystanders have started CPR and utilised an AED prior to our arrival. For every minute that defibrillation is delayed, survival decreases by 10 per cent.

    “We want to see more people learn CPR, register their AEDs and assist if needed. Anyone can have a cardiac arrest, and anyone can help save a life.”  

    A partnership between The Heart Foundation and Ambulance Victoria, the Heart Safe Communities program aims to improve survival rates from cardiac arrest with a concerted effort in selected towns across Victoria to teach residents how to perform CPR and use an AED, register publicly accessible AEDs, and increase the number of active GoodSAM responders.

    Lloyd has since made a full recovery and Ambulance Victoria Acting Regional Director Jess McGowan said Lloyd’s case demonstrates the importance of Heart Safe Communities.

    “The Heart Safe Communities program is all about teaching Victorians that anyone can save a life – simply follow the three simple steps: Call Triple Zero (000), Push hard and fast on the middle of the chest to perform CPR, and Shock using an AED,” she said

    “Every minute matters in a cardiac arrest and it’s pleasing to know more people in our region feel confident to act while paramedics are on their way.”

    Victoria has Australia’s best cardiac arrest survival rate and the third best anywhere in the world, largely thanks to high rates of bystander intervention.

    The Heart Safe Communities program launched in 2018 and there are now 54 Heart Safe Communities across Victoria, with another 12 towns starting the program in 2025-26.

    Heart Foundation Victoria General Manager Chris Enright said initiatives such as Heart Safe Communities are designed to support and encourage bystanders to take lifesaving action in an emergency.

    “In a Heart Safe Community, residents who’ve taken part in the initiative are equipped with the knowledge and tools to respond to somebody experiencing a cardiac arrest. This support includes giving people the confidence to step in and perform CPR, as well as the use of a lifesaving AED to help increase someone’s chances of survival,” she said.

    “The Heart Foundation is proud to work alongside AV to provide communities with access to lifesaving resources and training through the Heart Safe Communities program.”

    Last year, paramedics responded to a record 7,545 cardiac arrests. Victoria has the best cardiac arrest survival rates in Australia, and third best anywhere in the world, thanks to strong bystander intervention and early access to CPR and defibrillation.

    This month, Victorians are also encouraged to sign up as GoodSAM responders(opens in a new window) through a free smartphone app that connects people willing to do CPR with nearby patients in cardiac arrest before paramedics arrive. More than 17,300 Victorians are already signed up, but more are needed.

    Since the incident, the walking group has purchased their own AED to take on walks.

    As for Lloyd, he is back walking, playing cricket, bowls and making the most of every day.

    “I count my blessings every day. I’m back walking every weekend with friends who helped save my life,” he said.

    Continue Reading