Month: 2026-04

EQS via SeaPRwire.com / 16/04/2026 / 15:38 UTC+8 In a world where geopolitical risk reshapes capital flows overnight, Southeast Asia offers something increasingly rare: a combination of growth and stability backed by ongoing cooperation. At the region’s southern corridor, Forest City SFZ marks where that vision gets built into infrastructure. 28 February 2026 marked the beginning of one of the most severe Middle Eastern conflict escalations in years, with far-reaching humanitarian and economic consequences. US-Israel airstrikes on Iranian cities killed the Supreme Leader Khamenei and top officials, prompting Iran to retaliate with missiles and drones against Israel and Gulf states hosting US bases. The human cost was immediate. The financial aftershocks soon followed. Dubai International Airport temporarily closed, its runways still and hallways silent. For capital that had long treated the Gulf as sanctuary, the quiet said everything as confidence in the region’s stability wavered. It was scenarios like this, disruption to established wealth corridors and the need for stability, that policymakers in Southeast Asia may have considered when designing alternative infrastructure for global capital. Chief among these initiatives is the Forest City Special Financial Zone (SFZ), a government-gazetted financial district launched on 20 September 2024 within the Johor-Singapore Special Economic Zone (JSSEZ), offering qualifying entities preferential tax rates: 0% on family office investment income (10-year exemption, extendable by a further 10 years subject to conditions), 5% corporate income tax for qualifying institutions in finance and technology, and 15% personal income tax for skilled knowledge workers. Endorsed by Malaysian Prime Minister Anwar Ibrahim and located approximately 2 km from Singapore, the SFZ is positioned as a capital-efficient base for wealth management structures seeking a proven Southeast Asian jurisdiction. As of late 2025, six single family offices have been formally approved under the SFZ framework with total assets under management (AUM) reaching RM400 million, surpassing the authority’s initial estimates. With more than 30 expressions of interest received, the government’s target for the SFZ has been set at RM2 billion in AUM by the end of 2026, reflecting strong market interest. As CNBC noted on Inside Wealth, “The Iran war has shaken Dubai’s status as a global wealth hub, as legions of expatriates scramble to escape and family offices and wealth managers reconsider their Middle East footprint.” Bloomberg News also reported that “Many of Asia’s richest families are reconsidering their exposure to Dubai as the Iran war rattles the city that has attracted billions from across the region in recent years.” Southeast Asia has long attracted capital seeking Asian growth. Today, it offers something increasingly valuable: harmony, stability, and, as it always has, an environment that invites collaboration. But for family office principals and their advisors, the question is more specific: where will capital flow next when traditional hubs face unprecedented geopolitical risk? What is Malaysia’s Forest City Special Financial Zone? Malaysia’s Forest City SFZ is the Malaysian government’s answer to that question, and to Singapore’s capacity constraints. Launched in September 2024, the SFZ offers a regulatory framework explicitly designed to complement Singapore’s ecosystem while providing distinct cost and tax advantages for qualifying single family offices and financial institutions. The February 2026 shock has accelerated a trajectory already underway. For years, capital with Gulf exposure, whether Middle Eastern in origin or internationally deployed through regional hubs, has been diversifying into Southeast Asia. Singapore stands as the primary beneficiary. By mid-2025, the city-state hosted 2,720 single family offices. The growth reflects deliberate policy: Singapore’s Variable Capital Company (VCC) framework, Global Investor Programme (GIP), 13O/13U tax incentives, and generally robust regulatory environment have made it the default Southeast Asian jurisdiction for sophisticated wealth structures. Reuters reported in March that, according to industry advisers and lawyers, there has been a major increase in clients “making enquiries or taking similar steps to move their Dubai-parked assets to the regional financial hubs of Singapore and Hong Kong.” Yet Singapore’s family office boom, while validating the regional thesis, has also created capacity constraints that benefit neighbouring jurisdictions. The numbers say it all: 2,720 or more family offices competing for talent, service providers, and premium office space in a 710 km² city-state generates upward pressure on costs. This creates natural overflow demand: family offices seeking Southeast Asian jurisdiction benefits without Singapore’s cost structure, or those requiring a secondary location for operational resilience. The question is whether alternative jurisdictions can meet the governance, regulatory, and connectivity standards that institutional capital requires. Malaysia and the Johor-Singapore Corridor: From Competition to Complementarity The answer may lie not in competing with Singapore, but in extending its promise northward, across water and into wider ground. Lower costs, greater flexibility, and proximity close enough to leverage Singapore’s infrastructure without bearing its overhead. For decades, the economic relationship between Singapore and Malaysia’s southernmost state, Johor, was defined largely by asymmetry: Singaporean capital and tourists flowing north, Malaysian workers commuting south. But over the past two years, both governments have moved from broad aspirations toward concrete policy frameworks designed to facilitate cross-border economic integration. Infrastructure to support deeper integration is already taking shape. The centrepiece of this shift is the Johor-Singapore Special Economic Zone (JSSEZ), a bilateral framework formally signed by Malaysian Prime Minister Anwar Ibrahim and Singapore Prime Minister Lawrence Wong on 7 January 2025. The agreement establishes a coordinated approach to cross-border investment, labour mobility, and infrastructure development across the causeway. At The Edge-HSBC Johor-Singapore Special Economic Zone Forum 2025, Datuk Omar Siddiq, CEO of HSBC Malaysia, observed that “the JSSEZ will help move Malaysia up the value chain” with considerable interest from Malaysia and Singapore businesses. More broadly, in April, the World Bank lifted Malaysia’s growth outlook to 4.4% despite global headwinds, citing relatively resilient macroeconomic fundamentals. Within this broader framework sits the more targeted instrument: the Special Financial Zone (SFZ), located on Forest City island at Johor’s southern tip. The SFZ represents Malaysia’s bid to capture a share of the region’s mobile wealth, offering single family offices, asset managers, and financial institutions a regulatory and tax environment distinct from the rest of the nation. More importantly, it shows that political commitment to the zone has led to enacted laws and completed infrastructure. Forest City’s residential precincts, transport links, and commercial amenities are already operational. The Tax Proposition: A Comparative Analysis The SFZ’s value proposition is clear, with a 0% tax on qualifying investment income for an initial ten years, extendable to twenty. This matches the headline rate offered by Singapore’s 13O/13U schemes and Hong Kong’s family office concessions, but with a critical difference in accessibility: a minimum requirement of only RM30 million in AUM versus Singapore’s S$20 million and Hong Kong’s HK$240 million. Jurisdiction Family Office Tax on Investment Income Corporate Tax (Standard) Minimum AUM SFO Count Forest City SFZ (Malaysia) 0% (10yr + extendable 10yr) 5% (approved entities) RM30M (~US$7.5M) 6 approved Singapore 0% (13O/13U schemes) 17% S$20M (~US$15M) 2,720 (H1 2025) Hong Kong 0% 16.5% HK$240M (~US$30M) 3,380+ (year-end 2025) For mid-market single family offices, next-generation wealth holders, and first-generation entrepreneurs formalizing multi-generational structures, Forest City eliminates the capital barrier that put Singapore and Hong Kong’s regimes out of reach. Furthermore, Singapore mandates that family offices employ at least one non-family investment professional, a compliance layer that introduces external parties into what some might prefer to keep in the family. Forest City imposes no such requirement. The logic is straightforward. Singapore as the operational hub, Forest City SFZ as the holding structure. This pairing echoes established global models. Dublin and London. Luxembourg and Frankfurt. Cayman and New York. Each combines operational depth with structural efficiency. Forest City-Singapore is the Southeast Asian version but only 2 km apart. Geographic reality makes this practical. Forest City lies approximately 40 minutes by car from Singapore’s CBD and 60 minutes from Changi Airport. The Johor Bahru-Singapore Rapid Transit System (RTS) Link, scheduled for completion in December 2026, will connect Woodlands to Bukit Chagar in five minutes, with capacity for 10,000 passengers per hour in each direction. This removes the last friction point from the dual-location model. Professionals will be able to operate across both jurisdictions on a day-to-day basis. Map showing Forest City SFZ located approximately 2 km from Singapore, within the Johor-Singapore Special Economic Zone (JSSEZ). How Do I Set Up a Family Office in Forest City? As of early 2026, six family offices have received formal approval to operate within the SFZ, with declared assets under management totalling RM400 million. Office rents in the zone have surged 267% from their pre-launch baseline, while occupancy has reached 59%. Beyond the zone itself, the broader JSSEZ framework is generating capital formation at scale: Johor attracted RM91 billion in approved investments in the first nine months of 2025. These are metrics that distinguish this from dormant special zones elsewhere in the region. The numbers, however, tell only part of the story. What matters equally is the structure of access. The Securities Commission Malaysia (SC), under guidelines updated on 9 October 2025, provides the authoritative framework for SFZ entry. Qualifying entities include single family offices, fund management companies, financial advisory firms, fintech companies (with Market Development status), and approved financial institutions. Entry points are calibrated to different profiles: Family office principals: 0% tax on qualifying investment income for 10 years (extendable to 20); RM30 million minimum AUM. The SFZ-track Malaysia My Second Home (MM2H) programme provides a structured long-stay residency pathway from RM500,000, with streamlined processing for qualifying principals. Singapore’s airport, healthcare facilities, and international schools remain within 45 minutes. Financial professionals: A 15% personal income tax rate, legislated for up to 15 years, applies to approved skilled workers within SFZ-registered entities. This covers fund managers, financial analysts, and compliance roles. JSSEZ-focused investors: The SFZ is one node within the broader Johor-Singapore Special Economic Zone, a bilateral framework with implications for real estate, infrastructure, and cross-border commerce beyond the financial sector. The framework, in short, is built for optionality. Principals seeking tax efficiency, professionals seeking career mobility, and investors seeking exposure to the broader JSSEZ corridor. For establishing a single family office in particular, the steps are clearly laid out: Confirm eligibility and required documentation based on the official Guidelines on Single Family Office Incentive Scheme, then arrange a pre-application consultation to discuss structure, asset composition, local investment strategy, and related issues. After consultation (or in parallel), establish the family office in line with key operational requirements, such as opening a bank account with a licensed institution in Malaysia. Prepare and submit documentation in line with SC requirements, including but not limited to corporate structure, official business documents, AUM breakdown, plan for hiring and expenses, and proof of local commitments. After receiving a certification from the SC, attach the certification letter together with an income tax return form and submit it to the Inland Revenue Board of Malaysia. Maintain and complete annual certification processes to confirm ongoing compliance with the scheme requirements. More details can be found on the official SC website. A Sanctuary Built on Stability and Cooperation Forest City’s proposition ultimately rests on a simple premise. Capital flows toward stability and collaboration. The SFZ is Malaysia’s bet that this stability, combined with competitive incentives and proximity to Singapore, can attract a meaningful share of mobile global wealth. Early validation is there, the infrastructure is being built, and for investors conducting due diligence, official SFZ and SC documentation is publicly accessible. What remains to be seen is whether execution will match the long-term vision. But in an era of renewed great power competition, regional conflicts, and institutional fragmentation, Forest City offers access to a corner of the world that has chosen a different path—a rare combination of harmonious stability and quiet ambition. For capital seeking not just returns, but resilience, that may prove to be the most durable one. 16/04/2026 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.com

EQS via SeaPRwire.com / 2026-04-16 / 10:29 UTC+8 當全球AI產業從“訓練時代”進入“推理時代”，Token不再是藏在代碼深處的技術術語，而是進化為可計量、可定價、可跨境交易的“數字通貨”——AI時代的“新石油”。 誰掌握Token的定價權與流通權，誰就握住了AI世界的核心資源。 上市僅100天，市值突破1000億港元——被市場稱為“Token第一股”的迅策（03317.HK）用勢如破竹的市場表現，向市場傳遞：這不是簡單股價的上漲，而是一次資本市場底層邏輯的切換，是中國AI力量在全球坐標系中完成的一次深刻定義。 而這，只是開始。 在這場由Token主導的全球AI版圖重構中，迅策沒有選擇拼大模型，也沒有選擇堆算力。它選擇了一個更底層的角色——“AI世界的數字燃料供應商”。如今，它正率先啟動Token出海業務，成為中國AI數據服務走向全球的領航者。 日前，迅策宣佈與國家級深圳數據交易所簽署戰略合作協議。此次合作標誌著迅策在數據要素市場跨境與出海邁出重要一步。它意味著：中國不僅有Token，更有Token的標準、流通的規則、合規出海的通道——這是Token出海從“野蠻生長”邁向“制度化出口”的關鍵轉折。數據跨境的最大風險，從來不是技術問題，而是合規問題。 深數所作為國家級數據交易基礎設施，提供的正是這張不可複製的“數據護照”，讓迅策的Token出海有據可循、有路可走。 一、Token出海：“AI生產力出口”全面演進全球Token需求井噴。“Token出海”從一個概念，迅速演變為全球AI產業炙手可熱的賽道。 數據不會說謊。全球最大模型聚合平臺OpenRouter顯示，前十模型總Token消耗中，中國模型占比已高達61%。更令人震撼的是：該平臺47.17%的用戶來自美國，而中國開發者僅占6.01%——這意味著，海外用戶正在用真金白銀，為中國大模型投票。 國家數據局最新數據顯示，截至2026年3月，中國日均Token調用量已突破140萬億。這是什麼概念？相當於每天生成約2000億篇千字文章——全中國14億人，人均每天“消費”上百篇AI生成的千字內容。而這其中，海量Token消耗來自企業級API調用、智能體運行和模型間交互。摩根大通預測，中國AI推理Token消耗將從2025年的約10千萬億，飆升至2030年的3900千萬億，五年再漲370倍。Token出海之所以迅速“出圈”，是因為它點燃了人們對“換道超車”的集體想像。 過去，我們出口襯衫、家電、手機、新能源汽車——都是實體產品，對應的是價值鏈偏下的通用型輸出，賺的是“製造利差”。如今，Token出海，讓中國實現了從“實物出口”到“AI生產力出口”的歷史性躍遷。 這場躍遷，可以用三個歷史座標來定位：第一階段，中國出口襯衫、球鞋，價值鏈偏下，以量換匯，對應“通用Token”——計算成本低、可替代性強，拼的是規模與效率；第二階段，中國出口高端裝備、新能源汽車，價值鏈攀升，以質換溢價，對應“行業專用Token”——嵌入垂直場景，具備領域壁壘；第三階段，正在發生——中國出口AI生產力本身，以Token為計量單位，向全球輸出推理能力與智能服務，進入價值鏈頂端。Token背後，凝聚的是電力、算力、演算法與專用數據的多維積累，共同凝練出具備高附加值的“智算能力包”。中國基建，將再次驅動全球經濟增長——只是這一次，原動力單元不再是鋼筋水泥，而是Token。電力不離境，算力不出口，但AI生產力跨越國界，以數字形態完成了過去實體商品才能實現的“價值流通”。這是一次無法被關稅壁壘阻斷、無需集裝箱運輸的新型出口。 所謂Token出海，本質是中國AI以Token為核心計價與流通單位，向全球輸出推理算力與智能服務的新型數字貿易模式。它不是簡單的App出海或海外聊天工具，而是底層算力能力的直接輸出——將國內推理能力打包成Token，通過跨境API向全球收費，賺取AI世界的"跨境電費"。其核心特徵在於： 計算本地化：海外請求→國內算力→結果回傳 價值跨境化：電力留在國內，收益流向全球 計費標準化：價格僅為海外模型的1/5-1/20，但Token價值遙遙領先 合規安全化：數字服務與出口 更深遠的意義在於：Token的出現，首次解決了數據資產化的難題。數據經標準化轉化為Token後，變得可計量、可收費，完成了從“資源”到“資產”的歷史性躍遷。而中國，正以一騎絕塵之勢，在這場躍遷中定義新的全球規則。 二、中國Token出海的“護城河”：深不見底中國Token的優勢，目前只體現在三個維度： 第一，演算法效率。 MoE架構、量化技術等創新，讓單位算力的Token產出遠高於同行；第二，開源策略。 DeepSeek、Qwen等開源版本吸引了全球開發者，形成了不可逆轉的生態飛輪；第三，極致定價。國產模型API價格僅為海外同類產品的1/5-1/20——MiniMax M2.5輸入價格0.3美元/百萬Token，而Anthropic的Claude Opus 4.6高達5美元，是中國模型的16.7倍。 更關鍵的是，Token正在經歷一場“價值分層”。同樣一個Token，用來閒聊，百萬個值0.01美元；用來寫代碼，值200美元；用來做法律文檔審閱，值1000美元——價值差了十萬倍。不到5%的Token消耗，創造了超過80%的可測量價值。Token的價值不取決於它的生產成本，而取決於它被用來做什麼。 中國Token出海的真正護城河，不僅僅是成本與效率的碾壓，是以數據精煉能力，將通用Token轉化為高價值“數字資產”的能力。這不僅是賣得更便宜，更是賣得更值、定義得更高——從“世界工廠”到“世界Token工廠”。 三、合規先行：迅策手握數據跨境“通行證”2026年3月30日，全球首個推動數據發展與治理的國際組織——世界數據組織（WDO）在北京正式成立，已吸納全球40餘個國家、200餘家核心會員，覆蓋工業、金融、醫療等14個重點行業。在數據跨境流通規則尚待統一的當下，WDO的成立為中國數據企業出海提供了至關重要的多邊協調平臺。 從政策導向來看，中國數據跨境流動的核心邏輯已從過去的防守型，全面轉向價值創造型——更加注重開放、合作、發展與共贏。迅策作為中國AI即時數據基礎設施領域的代表企業，有望借助這一國際機制，加速其Token化數據服務在全球市場的落地。 此次牽手深數所，正是迅策探索Token出海的關鍵落子。根據協議，雙方將圍繞三大方向展開深度合作。第一，聯合拓寬數據要素和人工智慧創新業務，推動企業數智化轉型；第二，共建數據資產化與數據資產入表服務體系，推動數據資產化與合規化業務發展；第三，打造具身智能數據規範體系，推動具身智能數據產業發展。 深圳數據交易所定位為建設全國性數據交易平臺，探索適應數據大規模跨域流通的可行路徑、加快構建數據要素跨域、跨境流通的全國性數據交易平臺，正是深數所寫入章程的核心目標之一。 此次合作，將幫助迅策深化數據合規化與跨境數據合規的探索，加速數據資產化業務落地；有效推動企業級AI應用，拓寬多元化行業滲透；搶佔具身智能數據規範先發優勢，構築長期高競爭壁壘。 四、迅策穩步開拓海外業務，中國定義AI未來迅策扮演著最底層的“數據Token供應商”角色。公司憑藉多年沉澱的金融、電信等高質量數據，為每一次Token調用加裝了“增效器”。 迅策的商業模式正從傳統的訂閱制、交易制向Token付費模式全面升級。其核心公式清晰而暴力：收入 = Token價格 × 調用次數 × 應用模組數。 這意味著，企業收入不再取決於傳統的“客戶數量”，而取決於使用頻率、使用深度與AI滲透率——這是一個與AI使用強度直接綁定的指數型收入模型，與傳統SaaS、軟體訂閱、乃至互聯網流量模型，不在一個維度。 資本市場不是在看“現在的迅策”，而是在定價一個以Token為核心收入結構的未來。2025年，迅策實現營業收入12.85億元，同比增長103.28%，下半年經調整淨利潤達5013萬元，首次實現半年度正向盈利。其中，Token收費模式占比已達5%，預期2026年將快速提升至20%-30%。Token模式一旦跑通，將同時具備三重特徵：收入隨調用量指數增長、數據深度綁定、邊際成本極低。 三者疊加，形成典型的高毛利+高複用+高擴張能力組合。資本市場對此類模型的定價，從來不會保守。千億港元市值，只是迅策價值重估的第一個錨點。真正的定價座標，從來不該以港元衡量——它指向千億美金。 在海外佈局方面，迅策正穩步開拓海外業務，構建全球化佈局雛形，2026年海外收入占比有望突破10%。目前公司業務已從資產管理行業延伸至電信、電力、能源、城市運營、高端製造、醫療、衛星、機器人及消費等多元化領域。 結語：中國，正在Token上定義未來當中國日均Token調用量突破140萬億，當世界數據組織在北京落地，當AI推理成為新一輪全球競爭的制高點——一個時代的底層規則，正在被中國力量悄然重寫。 每一代通用技術都會催生新的制度需求：鐵路時代是反壟斷法，電力時代是公用事業監管，互聯網時代是數據隱私。Token經濟也不例外。它帶來了能耗治理、跨境流動、統計盲區等新挑戰，但制度建設的窗口從來都在技術爆發的早期。Token經濟的演進速度遠快於移動互聯網，而中國，正在第一時間給出答案。 迅策科技，這家“Token第一股”將進階成為“Token出海第一股”，正以數據基礎設施提供商的獨特身位，參與重構全球AI服務的底層規則，探索Token出海路徑，讓中國AI技術與產業優勢惠及。 2026-04-16 此財經新聞稿由EQS via SeaPRwire.com轉載。本公告內容由發行人全權負責。瀏覽原文: http://www.todayir.com/tc/index.php