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Yahoo
2 days ago
- Business
- Yahoo
Resurgent air travel and a strategic acquisition helped SATS climb over 100 places in the Southeast Asia 500
Airlines the world over are reporting a surge in business as tourists go traveling again. Carriers earned a total net profit of $32.4 billion last year, up 18% from the year before, while passenger numbers hit a new high of 4.8 billion. In Southeast Asia, airlines like VietJet, Thai Airways, and Garuda Indonesia posted double-digit revenue growth last year. But the most impressive performance came not from a carrier, but rather a company that keeps its feet on the ground. Singapore's SATS, which provides an array of services including food preparation, air cargo handling and passenger services, tripled its revenue in 2024, lifting the company to No. 93, a jump of 134 places, on this year's Southeast Asia 500. SATS's 2024 revenue now stands at $3.8 billion. SATS was the biggest climber on this year's list, not including newcomers. Much of SATS's revenue growth comes after its completed acquisition of Worldwide Flight Services (WFS), a global air cargo logistics provider. SATS bought the company for 1.3 billion euros ($1.5 billion at current exchange rates) in a deal announced in early 2023. SATS's acquisition of WFS now makes the Asia-centric company much more of an international player. WFS is the world's largest cargo handling firm, and is a major player in both Europe and the Americas. A combined SATS-WFS has a combined reach of more than 215 locations worldwide, covering trade routes responsible for more than half of global air cargo volume. SATS's history stems back to the early days of commercial aviation in Singapore, starting as the ground division for Malayan Airlines. That airline later split into Singapore Airlines (SIA) and Malaysian Airline Systems. SIA then established its ground handling business as a separate business in 1972. Now, SATS is the main air cargo, ground handling and inflight-catering services provider for Singapore's largest civilian international airport, Changi Airport. SATS has since expanded its footprint throughout Asia, forming joint ventures in markets like mainland China, Taiwan, Hong Kong, the Philippines, and Indonesia. In its most recent financial report for the quarter ending March 2025, SATS reported a 13% jump in revenue year-on-year to reach 5.8 billion Singapore dollars ($4.53 billion at current exchange rates), driven by a growth in business volume and revenue contributions from its expanded network. 'Our cargo volumes have consistently outperformed IATA's global growth benchmarks, demonstrating our ability to leverage our expanded network to secure new contracts,' SATS said in its annual report. The company aims to hit 8 billion Singapore dollars ($6.2 billion) in revenue by the end of its 2029 fiscal year, thanks to a larger network, growth in Asia-Pacific passenger volumes, and Singapore's role as an aviation hub. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
2 days ago
- Business
- Zawya
Passion Meets Innovation: Hong Kong's Leap into Football's Future
The future of football is being written in Asia. It starts in Hong Kong. World Football Summit (WFS) is set to redefine the global football landscape with its inaugural Hong Kong summit on September 2nd-4th, marking a pivotal moment where technology, culture, and strategic vision converge at the heart of Asia's football revolution. As the Asian football market surges to a remarkable USD 7.187 billion, with digital engagement breaking records and investment opportunities expanding, this summit represents a critical junction in the sport's global narrative. The Asian Football Confederation has witnessed a 20% growth in digital followers, with website page views exploding by 258%—a testament to a market on the brink of unprecedented transformation. "Our Hong Kong summit transcends a traditional conference," explains Jan Alessie, Co-founder and Managing Director at World Football Summit. "We're creating a global platform where football's most innovative minds will explore how East and West can reshape the beautiful game's future." The inaugural WFS Hong Kong, proudly supported by the Hong Kong Tourism Board, is designed to provide a platform where football legends meet tech innovators. Where East meets West. Where digital transformation isn't just discussed—it's demonstrated. Part of the lineup reads like a football hall of fame, given the caliber of the legends that have confirmed their participation so far. Rio Ferdinand, Manchester United legend Fabio Cannavaro, 2006 Ballon d'Or winner, member of the 2006 WC winning team John Terry, Chelsea FC legend Romy Gai, Chief Commercial Officer, FIFA Javier Zanetti, Inter Milan Vice President and legend Carles Puyol, Barcelona legend and member of the 2010 World Cup winning team Davor Suker, former Croatian FA President, 1998 WC Golden Boot Fabio Capello, former football coach and player Pierluigi Collina, former famous referee and Chairman at FIFA Referee Committee In addition to these global football icons, prominent local leaders will also be taking part in the event. These include: Dr. Allan Zeman, Chairman of Lan Kwai Fong Group John Sharkey, CEO of Kai Tak Sports Park Crystal Wong, Vice President – Asset Management at K11 Concepts Limited The full lineup of speakers will dive deep into the most critical questions facing football: How do digital technologies redefine fan experiences? What are the new investment models in sports? Hong Kong: a new hub for sports development? The general summit themes are razor-sharp: Fan Engagement in the Digital Age Football's Cultural Crossroads East and West: Reimagining Football Relationships Digital Transformation and Innovation 'Hong Kong represents a unique gateway between global football markets," added Filipe Gonçalves, Chairman at Asia Partners IFBD, WFS strategic partner in Asia. "This summit is not just an event—it's a strategic bridge connecting diverse football ecosystems, positioning Asia at the forefront of the sport's next evolution.' From broadcasting innovations to sustainable business models, from talent development to cross-continental investments, the WFS Hong Kong summit will provide an unparalleled platform for connection, insight, and strategic thinking. With an expected attendance of over 4,000 international industry professionals and more than 100 speakers, the event promises to be a defining moment in football's global evolution. A dedicated fan zone will transform the event from a conference into a celebration. Interactive experiences, egaming, football skills competitions, classic memorabilia—this is where strategy meets passion. Global football summit brought to Hong Kong for the first time, proudly supported by the Hong Kong Tourism Board World Football Summit Hong Kong 2025 is proudly supported by the Hong Kong Tourism Board. With the tremendous support, WFS is aimed to elevate the city's positioning as a premier destination for global sports business and innovation. By supporting WFS, the Hong Kong Tourism Board reaffirms its commitment to attracting world-class international events and leveraging the power of football to enhance the city's global appeal, economic development, and regional influence within the Greater Bay Area. This partnership highlights the shared vision of making Hong Kong a central hub for the future of the sports industry in Asia and beyond. Event Details: Date: 2nd-4th September, 2025 Location: AsiaWorld-Expo, Hong Kong Focus: Connecting the global football ecosystem Expected Attendance: 4,000+ international professionals The future of football is being written. Will you read it or write it? Distributed by APO Group on behalf of World Football Summit. Contact and media accreditation: Jaime Domínguez - Communications Director, World Football Summit press@ Marta Lop - Marketing Director APAC World Football Summit About World Football Summit: World Football Summit is a leading international organization for the football industry. Through its platform, we organize events across four continents that bring together key stakeholders from the ecosystem, fostering business opportunities, collaboration, and innovation in the sector. Thousands of professionals representing companies and institutions from around the world actively engage with WFS. About Asia Partners IFBD: Asia Partners IFBD is a premier investment IP company specialising in the sports sector. We focus on investing in innovative intellectual property (IP) concepts and collaborating with top-tier players in the industry. Our extensive network and expertise allow us to work alongside the best football players and organizations.
Straits Times
05-06-2025
- Business
- Straits Times
Zoo animals, vaccines and more: Sats powers Paris air cargo hub at Charles de Gaulle
PARIS – Two lions and three golden monkeys passed through an air cargo facility at Charles de Gaulle Airport in Paris on their way to a zoo in central France earlier this year . Besides live animals, the facility also handles other types of specialised cargo, such as pharmaceuticals and perishables like meat and milk. The facility is owned by Sats, the Singapore-listed air cargo handling services provider, and operated by its subsidiary Worldwide Flight Services (WFS), which it acquired in 2023. Following the €1.3 billion (S$1.9 billion) acquisition, Sats became the world's largest air cargo handler. The combined Sats-WFS network operates over 215 stations across 27 countries, covering trade routes that account for more than half of global air cargo volume. Mr Laurent Bernard, vice-president of WFS in France, said on June 3 that the country handled 1.3 million tonnes of cargo in 2024, with 70 per cent coming from Charles de Gaulle Airport. On June 4, the media toured the Paris cargo facility for the first time. Mr Bernard said Sats' acquisition has helped WFS expand its network, giving it a long-term vision and ability to invest in its business. Previously, WFS was 'very Europe-centric', he said. The company also saw growth in the US, but it lacked a significant footprint in Asia . World Flight Services staff loading a cargo crate onto an aircraft at Charles de Gaulle airport in Paris on May 4. ST PHOTO: AZMI ATHNI With the acquisition, its reach is now truly global, strengthening its position to negotiate better deals with clients. 'When they are (negotiating) with us, they want a global deal. We can provide them the full package, and many stations (around the world), which is quite important,' Mr Bernard said. WFS was previously owned by a private equity firm whose focus was on 'making quick money in a short time', he said. Sats' acquisition has enabled the company to make investments in its business with a long-term perspective. For example, it is building a 20,000 sq m cargo facility in Lyon – about 460km south of Paris – that will include 7,000 sq m of temperature-controlled space. The building is expected to be ready by mid-2026. WFS has 120,000 sq m of warehouse space at Charles de Gaulle Airport , with roughly 20 per cent of this space dedicated to specialised cargo, Mr Bernard said. General cargo, which is still the company's main business, makes up the rest. Mr Laurent Bernard, vice-president of WFS in France, said Sats' acquisition has helped WFS expand its network, giving it a long-term vision and ability to invest in its business. ST PHOTO: AZMI ATHNI Outside Paris, WFS operates at 11 provincial airports across France, including those in Lille, Lyon, Marseille, Nantes, and Strasbourg. The media toured warehouses dedicated to three types of specialised cargo: e-commerce cargo , pharmaceuticals and shipments managed through freight forwarding. The e-commerce cargo is housed in a 5,000 sq m warehouse located less than 100m from the airside. This allows for fast and efficient cargo transfer, meeting the quick turnaround demands of airlines and freight forwarders aiming to make timely deliveries. E-commerce cargo is housed in a 5,000 sq m warehouse located less than 100m from the airside. ST PHOTO: AZMI ATHNI It takes about an hour to unload a full plane, and after checks on-site, the cargo is picked up as soon as two hours later. Most of the cargo arriving at the e-commerce warehouse is from China. The 2,400 sq m pharmaceutical warehouse is temperature-controlled, with one part of the site kept at 15 to 25 deg C and a smaller section at two to eight deg C. The warehouse handles vaccines, insulin and medical devices that have to be kept at a certain temperature. Workers loading pharmaceutical cargo onto a van at the World Flight Services cargo facility at Charles de Gaulle Airport in Paris. The facility is temperature-controlled, and handles shipments of vaccines and other medicines that are temperature-sensitive. ST PHOTO: AZMI ATHNI Another specialised cargo service is freight forwarding, or the coordination and organisation of the movement of shipments on behalf of a shipper. Freight forwarding companies that do not have their own warehouses – usually smaller players – rent space at the WFS facility to consolidate shipments before moving them to the final destinations. This is more economical than leasing their own spaces when cargo volume is low. The World Flight Services freight forwarding warehouse at Charles de Gaulle airport. ST PHOTO: AZMI ATHNI Besides their warehouse operations at Charles de Gaulle airport, WFS also runs an academy there to train workers in handling specialised cargo. In 2025, the centre aims to train 16,000 people in areas such as the handling of live animals, pharmaceuticals, dangerous goods like flammable liquids or materials, and perishable goods like meat and milk. Mr Bernard said Paris has the capacity to continue accepting passengers, and that it is 'crucial to have cargo linked to the (passenger) routes'. Having cargo on board a passenger plane could contribute 30 per cent of a route's profitability, he added. 'It's quite important – in parallel with passenger development – to continue to grow from the cargo side.' Meanwhile, Sats announced on June 3 three new product offerings designed to strengthen global air logistics resilience, in partnership with global transport and logistics company Kuehne + Nagel. One of the services is the expedited delivery of aircraft parts to Changi Airport during Aircraft-on-Ground (AOG) emergencies, where planes are grounded due to technical or mechanical issues. Sats said the solution leverages technology to track the response during an AOG emergency. This allows ground teams to anticipate the arrival of the spare parts and to prepare for repairs, enabling a quicker return to service. 'These disruptions can result in significant operational and financial impacts, making quick access to spare parts a high priority for the aviation industry,' said Sats and Kuehne + Nagel. The two partners also launched sea-air freight services at Sats' Los Angeles and Singapore hubs. This allows customers to transfer sea cargo onto air transport in the last leg of the journey, which could mitigate disruptions to customers' supply chains. To improve trucking and warehouse efficiency at Frankfurt Airport, the two partners have accelerated import cargo clearance there. This streamlining has reduced delays, allowing faster cargo pick-up and delivery by truck. Vanessa Paige Chelvan is a correspondent at The Straits Times. She writes about all things transport and pens the occasional commentary. Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
03-06-2025
- Business
- Straits Times
Sats ‘confident' in navigating tariff situation, says chief executive Kerry Mok
– Sats, the Singapore-listed air cargo handling services provider, is confident in facing any disruptions of the global trade war being waged by the US, Mr Kerry Mok, the company's president and chief executive, said on June 3. Speaking to The Straits Times on the sidelines of the Air Cargo Europe trade show, Mr Mok said he views the tariff situation as 'another macroeconomic challenge that we have to handle' that is similar to navigating the pandemic. Air Cargo Europe is being held in Munich until June 5. Sats is the world's largest air cargo handler, following its acquisition of Paris-based global air cargo logistics provider Worldwide Flight Services (WFS) in 2023 at a cost of €1.3 billion (S$1.8 billion). Its global footprint includes 215 cargo and ground handling stations in 27 countries, covering trade routes responsible for more than 50 per cent of global air cargo volume. Mr Mok said his confidence stems from 'the playbook that we have developed through Covid, (which) has served us well'. So far, air cargo volumes have not been affected by hefty tariff increases, possibly because of front-loading by businesses to get their goods off the ground during the 90-day reprieve, he said. On May 12, China and the US agreed to lower reciprocal tariffs to 10 per cent for 90 days while they commit to trade talks. While it is uncertain what will happen after the 90 days, Mr Mok said he expects that Sats, as a global company, will be able to weather the storm. A part of the business that is not doing well could be propped up by other parts of the business that are unaffected, he said. 'In a networked environment, if US volumes drop, Europe's volume increases, Asia volumes may increase,' he said. Because Sats has a global network, it may in fact benefit from a rise in volumes elsewhere, he added. Total demand for air cargo rose by 5.8 per cent in April 2025, compared to April 2024 levels, according to data released by the International Air Transport Association (IATA) . Its director-general also said the outlook for air cargo is encouraging, though 'stresses in world trade are no secret'. One of the lessons to come out of the Covid-19 pandemic is that air cargo was 'a shining spot' for many airlines and companies, said Mr Mok. When Sats was looking to expand, 'we identified cargo as a segment for expansion, because cargo is global ... and our customers operate in a global environment'. Sats offers airport services like airfreight handling, passenger services, and ground handling. It is also a major airline caterer and provider of food solutions to other institutions. 'We can't just stay big in Singapore and then be happy with that,' he said. Mr Mok said the WFS acquisition made sense because 'we are the leader in Asia Pacific, and they are market leaders in the US, the Americas and in EMEA (Europe, Middle East, and Africa) , and we have very little overlap'. Nonetheless , Mr Mok said, the acquisition was not without its naysayers. 'People said there's no chance… that Singapore companies always fail when they go overseas,' he said. But Sats took a long-term view, rather than focus on short-term profits and liabilities. 'That's not how we run the business,' he said. 'I think people are now starting to understand that it's working financially. We're now back on track,' he said. In May, Sats reported a net profit of $38.7 million for the three months ended March 31, 2025, gaining 18.3 per cent from $32.7 million in the corresponding year-ago period. Revenue for the fourth quarter was $1.5 billion, up 10.4 per cent year-on-year from $1.3 billion. This was driven by continued business volume growth and rate improvements, said Sats in a media release in May. On a full-year basis, the group reported profit of $243.8 million, soaring more than four times from $56.4 million a year ago. Revenue came in at $5.8 billion, gaining 13 per cent from $5.1 billion a year ago. Terminal 5 Turning to Terminal 5, Mr Mok said Sats will 'play a big part in the design of T5', particularly in the area of technology. In May, Sats announced that it would be investing over $250 million to upgrade its ground operations and cargo handling infrastructure at Changi Airport ahead of the opening of T5 in the mid-2030s. An expansion project more than a decade in the making, T5 will position Changi Airport to ride a predicted surge in air travel within the Asia-Pacific and beyond. Designed to handle about 50 million passengers a year, T5 will effectively double the size of Changi Airport and boost its current capacity of 90 million by more than 55 per cent. The Changi East development, where T5 is located, will also house the Changi East Industrial Zone, which will almost double the airport's annual cargo handling capacity from three million tonnes to 5.4 million tonnes. Mr Mok said the investment would refresh Sats' operations and bring in new equipment, with the goal of driving up productivity. 'We've got to find new technologies, new ways that will allow us to be efficient in driving the growth of T5,' he said. The solutions will not be those that exist today, he promised, noting that Sats can tap global network and the trials it has going on around the world. For example, a WFS cargo facility in Barcelona is testing automatic guided vehicles as part of an initiative to incorporate automation and improve efficiency, safety and productivity. 'It's important that T5 succeeds, and we want to play a big role in making that work for Changi,' Mr Mok said. Vanessa Paige Chelvan is a correspondent at The Straits Times. She writes about all things transport and pens the occasional commentary. Join ST's WhatsApp Channel and get the latest news and must-reads.
Yahoo
23-05-2025
- Business
- Yahoo
3D Cityplanner Unveils AI-Driven Urban Planning Software to Enhance Smart City Development
Strategis Groep, a leading Dutch technology firm, introduces the 3D Cityplanner, an AI-powered urban planning platform that allows professionals to design, visualize, and simulate city layouts entirely in the browser, enabling faster, more sustainable urban development. Amersfoort, The Netherlands--(Newsfile Corp. - May 23, 2025) - Strategis Groep, a forward-thinking technology company, has officially launched the latest iteration of its 3D Cityplanner platform - an innovative urban planning software solution that leverages AI to help cities design smarter, more sustainable, and efficient urban environments. The cloud-based platform, which requires no installation, enables urban planners, governments, and developers to create detailed 3D city models, assess infrastructure, and simulate complex planning scenarios all in real-time. 3D Cityplanner Unveils AI-Driven Urban Planning Software to Enhance Smart City Development To view an enhanced version of this graphic, please visit: The new version of the 3D Cityplanner introduces AI-powered design tools, advanced 3D visualizations, and seamless integration with geospatial data to provide a comprehensive planning experience. The platform helps users evaluate urban spaces from multiple perspectives, including sustainability, environmental impact, and public welfare. "Our mission is to streamline urban planning by making it more intuitive, transparent, and responsive to the challenges of modern cities," says Anne Dullemond, CEO of Strategis Groep. "With 3D Cityplanner, urban planners now have a cutting-edge tool at their disposal that runs entirely in the browser, making it easier to design, simulate, and refine complex city plans in real-time." Key Innovations in the 3D Cityplanner: AI-Driven Building and District Generator: The tool automatically generates optimized urban layouts, integrating elements like roads, public green space, solar-ready rooftops, and flexible parking solutions, making it ideal for speeding up the early stages of urban projects. Line-of-Sight and Environmental Impact Tools: Users can evaluate the visibility of key areas, sunlight access, and the distribution of greenery using realistic 3D simulations, which are vital for urban livability and health. Fully Browser-Based Design Platform: Unlike traditional CAD or GIS software, 3D Cityplanner operates entirely in the cloud. Users can easily draw, modify, and visualize urban environments from any device with an internet connection. GIS and BIM Data Integration: The platform supports various data formats, including WMS, WFS, CityGML, and BIM models like IFC, offering robust geospatial planning capabilities that professionals can rely on for complex projects. Live Urban Simulation: The platform can simulate various urban factors such as hydrology, infrastructure, and climate resilience, enabling urban designers to test and validate different scenarios efficiently. A Global Solution for Urban Development Although originally developed in the Netherlands, the 3D Cityplanner has expanded its reach with pilot projects in Europe, North America, and the Middle East. It stands as a modern alternative to outdated planning tools, offering a collaborative space where policymakers, engineers, planners, and the public can engage in the planning process together. The platform serves a range of urban planning needs from master planning and urban redevelopment to public consultations, helping governments and developers achieve their sustainability goals while optimizing land use. Shaping the Future of Urban Planning The 3D Cityplanner platform is poised to play a major role in the evolution of smart city design. Its innovative features and integration with AI make it a valuable tool for cities seeking to address the pressing demands of climate adaptation, infrastructure efficiency, and overall urban livability. "3D Cityplanner allows us to move forward in our mission of creating smarter, more sustainable cities," says Dullemond. "By providing an accessible, real-time platform for urban planning, we're empowering cities to make data-informed decisions that will shape the future." About Strategis Groep Strategis Groep is a technology and consulting firm based in the Netherlands, specializing in digital tools for urban development. The company partners with governments, architects, engineers, and developers across Europe to help reshape urban spaces using innovative technologies like GIS, BIM, and AI. The 3D Cityplanner is Strategis Groep's flagship platform for sustainable, data-driven city design. For more information, visit: Contact Info:Name: Anne DullemondEmail: anne@ Strategis GroepWebsite: To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
