Category: Commerce

LiveNews: https://livenews.co.nz/2026/02/13/national-strategy-launched-to-cut-aml-red-tape-and-crack-down-on-criminals/

Cregis at Consensus Hong Kong 2026: Redefining the Standards of Digital Asset Operations with Enterprise-Grade Solutions

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 12 February 2026 – In February 2026, global attention across the blockchain and crypto industry once again converged on Hong Kong. At the highly anticipated Consensus Hong Kong 2026, Cregis made a strong presence as a core exhibitor, emerging as a focal point for institutional clients, partners, and industry experts. With a full-stack product suite spanning payments, custody, and wallets, Cregis sparked in-depth discussions around the future paradigm of digital asset infrastructure.

Showcasing Core Products to Deliver End-to-End Enterprise Solutions

Located in the main exhibition hall, the Cregis booth (Booth 1808) remained a hub of engagement throughout the event. The team highlighted four cornerstone infrastructure offerings: the Crypto Payment Engine, the Digital Asset Business Operations Suite, MPC Wallet Infrastructure, and Enterprise-Grade Self-Custody Solutions. Together, these components form a comprehensive, closed-loop system covering fund flows, secure custody, and refined operational management.

During on-site discussions, Aaron, CTO at Cregis, shared:

‘What we’re seeing today is that the biggest challenge for enterprises adopting digital assets is no longer a single technical hurdle. It’s a systems-level problem—how to seamlessly, securely, and compliantly integrate complex on-chain operations into existing business workflows. This is exactly what Cregis is built to solve. By creating a secure, flexible, and compliance-first infrastructure layer, we transform fragmented technical challenges into standardized solutions that enterprises can easily integrate and manage.’

Industry Consensus: Compliance and Flexibility Are Critical

Throughout the conference, the Cregis team held extensive discussions with financial institutions, trading platforms, asset managers, and Web3-native projects from around the world. Live demonstrations and real-world use cases reinforced a clear market signal: demand is accelerating for solutions that not only meet stringent security and regulatory requirements, but also deliver high levels of customization and operational efficiency.

Sharing his broader industry perspective, Aaron added that the market has reached a pivotal inflection point. Institutional capital and mainstream use cases are entering at scale, but the maturity of underlying infrastructure will determine how smoothly this transition unfolds. Cregis aims to serve as a trusted partner for institutions at this critical juncture—reducing uncertainty through robust technology and enabling clients to move forward with confidence into the next phase of growth.

Beyond Tools: Cregis as a Strategic Enabler

Consensus Hong Kong 2026 was not only a product showcase, but also a clear statement of Cregis’ enterprise strategy. Through its presence at the event, Cregis reaffirmed its positioning as a one-stop provider of enterprise-grade digital asset management and operational solutions.

Cregis believes the future of digital assets lies in large-scale enterprise adoption. Anchored in security, structured around compliance, and powered by flexible, modular products, Cregis will continue to work alongside global innovators to build a more efficient, interconnected, and trustworthy next-generation digital asset operating ecosystem.

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

LiveNews: https://livenews.co.nz/2026/02/12/cregis-at-consensus-hong-kong-2026-redefining-the-standards-of-digital-asset-operations-with-enterprise-grade-solutions/

EMA backs broad direction of new Health and Safety Bill – but warns key gaps must be fixed

Source: EMA

The Employers and Manufacturers Association (EMA) says the government’s new Health and Safety at Work Amendment Bill takes a constructive step towards a modern, risk-based system – but warns several significant issues must be addressed through the submission and select committee process.

EMA Manager of Employment Relations and Safety Paul Jarvie says a risk-focused framework is the right direction. However, there are flaws and inconsistencies that could undermine its intent.

“A modern, risk-based approach is different to what we currently have, but the current approach isn’t working. So it’s worth trying this – a framework successfully used in other jurisdictions around the world.

“We do have concerns about the proposed exemptions for smaller businesses (fewer than 20 employees), as size has no bearing on risk, and some of the proposed exemptions could create new problems rather than solving old ones.”

The proposed bill limits these businesses’ requirements to identify and manage critical risks. Businesses with more than 20 workers, however, would continue to be responsible for managing all risks, not just critical ones.

However, the greatest cause of workplace injuries across all sectors is strains, sprains, and back injuries. These would not meet the critical-risk criteria and therefore would not be required to be identified or managed.

Jarvie says this creates a problematic disconnect.

“It’s vital that businesses collect all this data – for example, incident and near-miss reports – to understand what is potentially going to happen next. Low-level injuries can often help identify a more significant issue. Workplace violence, fatigue, and stress are other examples of issues employers need to identify and manage but which would not meet the critical-risk criteria,” he says.

“Creating a distinction between a small business and a large business doesn’t make any sense when both could have the same risks and injury profiles.”

Another challenge is allowing other legislation to override health and safety requirements if those duties are already covered elsewhere.

Jarvie says this creates uncertainty and could lead to unintended consequences.

“We already see conflicting requirements between agencies – for example, between land transport rules and health and safety guidance. Without clearer definitions, the bill risks widening those gaps.”

The EMA strongly supports the bill’s proposed industry-led Approved Codes of Practice (ACOPs) and its clearer distinction between governance and operational duties.

However, Jarvie says the absence of draft regulations could add confusion.

“We urgently need regulations to support the current Health and Safety at Work Act. It’s critical that we see them and that they align with and direct the bill’s intent.”

Jarvie says the success of the reforms will rely on a well-resourced, modern regulator that works collaboratively with business, similar to the Swedish system.

“Employers need confidence that they’ll receive consistent, practical advice. Without that, the risk-based model won’t deliver the improvements we all want.”

“Overall, we support the Bill’s intent,” Jarvie says. “But several significant issues need to be addressed to avoid unintended consequences. If we get this right, it will help New Zealand finally shift its stubborn health and safety performance.”

The EMA will continue reviewing the legislation in detail and will provide further guidance to its members in the coming weeks.

LiveNews: https://livenews.co.nz/2026/02/12/ema-backs-broad-direction-of-new-health-and-safety-bill-but-warns-key-gaps-must-be-fixed/

Backing ambition, building growth

Source: New Zealand Government

[Keynote delivered at the New Zealand Economic Forum, 12 February 2026]

Tēnā koutou katoa, and good morning.

Thank you to Professor Jennifer Kerr and the University of Waikato Management School for hosting us.

It is great to be here in the Waikato – a region that is building capability for the future, from innovation in agritech, to world-class events in the new BNZ Theatre, and soon to producing much-needed doctors and medical research through the new Medical School.

To my parliamentary colleagues, mayors, representatives of local government, members of the diplomatic corps, business leaders, economists, academics, students, and guests from across New Zealand – thank you for being here.

It is a privilege to open the 2026 New Zealand Economic Forum.

The theme of this year’s forum is Big Choices for a Small Nation. And there is one choice I want to be clear about at the outset.

We are fixing the basics and building the future by choosing smart investments that increase performance and decrease debt.

New Zealand does not grow by taxing more and investing less, and our Government is choosing a better course.

We grow by backing ambition, cutting red tape, and rewarding success.
That is the choice this Government is making.

We are meeting at a time when that choice matters.

The global environment is unsettled. Markets are volatile. Geopolitical risks are rising. Climate events are increasing. And the economic recovery has taken time, with real pressure on hardworking Kiwis.

In moments like this, it can be tempting to drift, or to reach for higher spending as an easy answer. But after the last Government more than doubled debt to 41.8 per cent of GDP, New Zealanders know the cost of that band-aid approach – it is simply not sustainable.

Small, open economies succeed by making deliberate choices.

History shows New Zealand’s biggest gains have come from disciplined decisions at home – managing the public finances responsibly, backing investment, staying open to the world, and building institutions that support long-term growth.

That is what this Government is focused on.

This morning I want to set out three things:

how we are managing the public finances and restate the case for why fiscal credibility matters;
how New Zealand is positioning itself in a more volatile global environment; and
how we are strengthening the foundations of growth – by backing ownership, investment, and productivity through a wide-ranging reform agenda.

This is about backing New Zealanders with settings that reward effort.

When we make the right choices, there is no reason New Zealand cannot grow faster, lift incomes, and build resilience – not despite our size, but because of it.

1. Fiscal positioning and economic leadership

Let me begin with the fiscal context.

New Zealand has been through a long and difficult economic adjustment. The post-Covid period brought inflation that lingered too long, interest rates that hurt too many households, and a downturn that took time to unwind.

The most recent Treasury forecasts show the economy has begun to turn a corner. Growth strengthened through the second half of last year, unemployment is stabilising, and confidence is returning. Momentum is building – but sustaining it requires discipline and focus.

At the same time, the Crown’s balance sheet remains under pressure.

Core Crown expenses are still elevated relative to pre-pandemic levels. Debt-servicing costs are significantly higher than they were five years ago. Demographic pressures, particularly in health and superannuation, continue to intensify.

That context explains the fiscal strategy we are pursuing.

Our objectives are clear and worth restating:

to return the operating balance to surplus by 2028/29;
to place net core Crown debt on a downward track toward 40 per cent of GDP; and
to rebuild fiscal resilience so future governments have options when the next shock inevitably arrives.

Those are not arbitrary numbers. They reflect the hard-won credibility New Zealand has built internationally over decades. They underpin our sovereign credit ratings. They protect households from higher interest rates. And they preserve room for governments to respond when crises occur.

They are targets easily forgotten by politicians who wish to spend more in election campaigns. But if we forget those targets, New Zealand’s economic strength will be impugned. And my view here is that fiscal credibility is not ideological. It is practical – and it is essential.

That is why Budget 2026’s operating allowance is $2.4 billion per annum. This is a ceiling, not a floor. Every dollar must be justified. Every new initiative must come with a clear case for value.

Over the past two years, this Government has made decisions delivering around $11 billion a year in savings and revenue measures. Those decisions were not easy. But they have stabilised the public finances, protected frontline services, and enabled investment in long-term growth.

That approach of delivering savings will be continuing in this budget and every future budget I deliver. Fiscal discipline is not the end goal. It is, in fact, the foundation for everything else we wish to achieve, because without it, everything else – growth, investment, resilience – becomes harder.

2. New Zealand’s position in a volatile world

We are making these choices in a world that is more uncertain than at any point in recent decades.

Geopolitical competition is sharper. Supply chains are more fragile. Energy markets remain volatile. And technological change – from artificial intelligence to advanced manufacturing – is accelerating faster than policy systems typically adapt.

Yet New Zealand’s position in this environment is stronger than we sometimes allow ourselves to believe.

We are politically stable in an unstable world. We have strong institutions, high-quality regulation, low corruption, and an independent central bank.

We produce food, fibre and energy the world genuinely needs. And we continue to generate globally competitive firms across agritech, software, advanced manufacturing and aerospace.

Our challenge is not a lack of potential.

It is whether our policy settings organise that potential, or suppress it through uncertainty, cost, and delay.

Much of what matters for New Zealand’s prosperity remains within our control: predictable policy, efficient infrastructure, credible fiscal management, secure energy supply, and settings that reward ownership and investment.

Resilience is not just about surviving shocks. It is about having the capacity to adapt, recover, and sustain growth.

3. Ownership, investment and productivity: backing growth

This global context brings us directly to the choices we are making at home to back growth

For decades, New Zealand’s productivity growth has lagged behind comparable economies, and the consequences are clear, lower wages, less fiscal headroom for investment in public services, from medicines through to classrooms, fewer globally scaled firms, and in my view, too much reliance on population growth and house price growth rather than genuine productivity gains.

And so, the task that our Government faces is not simply to repair the basics which were damaged post Covid, but to build foundations in our economy that allow us to address these long-standing productivity challenges.

Our Going for Growth agenda, which I published at last year’s forum, is grounded in a simple proposition: productivity responds to incentives. Productivity is not resolved through one silver bullet, but ongoing, substantive, systemic reform.

When people are confident, they own assets, invest in capital, and earn a return without those settings being constantly reopened, they invest more – and they invest earlier.

That is why this Government is explicitly backing ownership, investment, and productivity-enhancing settings.

Not through subsidies or short-term stimulus.

But through durable policy settings that reward productive activity.

The Investment Boost tax policy introduced in Budget 2025 was designed to do just that – change investment behaviour in favour of more capital intensity in our firms.

And it would have been easy to say at the last budget, we can’t afford a productivity-enhancing tax measure at this point, because that will require us to make difficult savings elsewhere. But the choice we made is that we can’t afford not to. We can’t afford to keep waiting to make productivity enhancing changes to our tax system.

And so, Investment Boost is not about rewarding investment that would have happened anyway. It is about tipping decisions – bringing investment forward, increasing scale, and anchoring capital in New Zealand.

And we are already seeing that happen.

Early evidence from Inland Revenue shows that among firms that invested recently, 40 per cent say Investment Boost increased their investment spending over the past year, including 11 per cent reporting a significant increase directly because of the policy.

Looking ahead, the impact is even clearer. Nearly half – 49 per cent – of firms intending to invest over the next five years say Investment Boost is positively influencing those plans, with 14 per cent anticipating a large increase in investment as a result.

What matters is not just that businesses are investing more, but how they are investing.

More than half of firms report adjusting the timing, scale and type of investment. Projects are being brought forward. Capital is being prioritised into productivity-enhancing assets. And businesses are choosing to own capital rather than lease it.

We can see that on the ground.

Dunedin-based United Machinists has brought forward investment in robotics and automation, rather than phasing it over several years.

Foot Science International has accelerated investment in automation and renewable energy infrastructure.

Christchurch-based Vynco is investing in advanced manufacturing equipment that will lift efficiency and expand capacity.

These are not abstract policy effects.

They are real businesses making real decisions – earlier, larger, and more productively – because the incentives have changed.

That matters, because capital deepening is how productivity rises. And productivity growth is how wages grow sustainably over time.

But there is a broader issue that needs to be confronted.

Investment Boost only works in the longer term if businesses believe it will endure.

Firms do not invest in long-lived capital – plant, machinery, buildings – if they think the rules may change after the next election.

So, my question to Mr Hipkins is straightforward.

Will they commit to retaining Investment Boost as a permanent fixture of our tax settings to unlock growth or will it be sacrificed to fund higher spending and new taxes?

This Government’s position is clear.

We back ownership.

We back investment.

And we back productivity-enhancing tax settings.

Policy stability, long-term reform and the growth opportunity

I want to make a broader point about policy stability, because this is where long-term growth is won or lost.

Business investment decisions depend on confidence: confidence in the regulatory environment, confidence in the tax system, and confidence that major settings will not be reopened or rewritten after every election.

There is strong evidence, here and overseas, that uncertainty around tax policy has a chilling effect on investment. When businesses hear ongoing debate about capital gains taxes, wealth taxes, inheritance taxes, or new taxes on investment and savings, they delay decisions, reduce scale, or take capital elsewhere.

That uncertainty is not theoretical. It has been lived.

This Government is taking a different approach.

We are committed to stability where stability supports growth. Not because change is never needed, but because constant churn comes at a real economic cost.

Good economic policy is not about novelty or relitigating the same arguments every three years.

It is about credibility, consistency, and giving people the confidence to invest, train, and build for the long term.

That principle runs through our broader reform programme.

If we step back, the question is not just what grows the economy this year, but what kind of economy New Zealand becomes over the next 10 to 20 years.

We have emerging sectors with enormous potential. From agritech and advanced manufacturing to digital services, biotech, clean energy and critical minerals. Unlocking that potential requires more than one-off incentives. It requires long-term settings that endure across economic cycles.

That is why we are backing reforms that strengthen both the economic and human foundations of growth.

Our reform agenda is not Band Aid solutions or quick fixes, but systemic changes, from competition reform to procurement reform to real transformation of the public sector and its delivery of services, digitising public services, enabling housing growth through investing in new funding and financing tools in competitive land markets, infrastructure funding and financing and planning.

This real reform doesn’t happen overnight, but it is essential, and in too many cases, overturned. Today, I want to focus on just three key areas where that reform agenda is significant.

The first is education. Here we are lifting performance by fixing the basics, because productivity ultimately depends on skills.

That is why we are:

refocusing the system on core skills
strengthening curriculum clarity
investing in structured literacy and numeracy,
and beginning the work to replace NCEA with a more credible, coherent qualification

These reforms are essential to give New Zealanders the skills to succeed, and give employers confidence in the workforce they are investing in. And no one will argue with the fact that achievement of those who are undergoing structured literacy has increased significantly.

According to our studies that doesn’t just mean that productivity growth, or GDP, will be increased in the next quarter, but that achieving better skills for our students is essential to our 20-year productivity goals.

The second area where we are strengthening ownership and long-term savings is through our policy to increase KiwiSaver contributions over time.

As Finance Minister, we made that commitment in last year’s Budget, and KiwiSaver default contributions will now increase half a per cent from this year and rise again in two years.

As National Party’s finance spokesperson, I’ve been proud to announce our policy of increasing KiwiSaver contributions beyond that over time – lifting domestic capital, strengthening household resilience, and supporting investment in New Zealand businesses.

And the third area is our reforms to the planning system, because growth cannot happen if building is blocked.

Replacing the Resource Management Act is one of the most important economic reforms underway. The two new Bills Chris Bishop has put forward fundamentally rebalance the system by:

reducing unnecessary delay
clarifying decision-making pathways
improving certainty for investors
enabling nationally significant infrastructure to proceed, and making growth easier rather than harder

If we are serious about lifting productivity, we cannot continue with a system that makes it harder to build than to object.

And we are making strategic investments in human capital that will strengthen our workforce and our economy for decades. That includes expanding medical education right here with the University of Waikato Medical School.

From 2028, the Waikato Medical School will train an additional 120 doctors each year, focused on primary care and community health, helping reduce reliance on overseas workforce and improving access to timely care for families, especially in rural and provincial areas.

This is a long-term investment in people – building the pipeline of doctors we need, creating new jobs, and strengthening the health workforce across this region and the country. And significantly, is occurring not just with Government funding, but with the contribution of the university and philanthropy as well.

We are also already seeing what disciplined reform can deliver.

A year into Kāinga Ora’s Turnaround Plan, performance is improving while debt is being brought under control. When this Government came into office, Kāinga Ora’s debt had grown from $2.3 billion to $16.5 billion, with forecasts showing it heading toward almost $25 billion. Clear direction and tighter discipline have changed that trajectory. Operating costs have been cut by $211 million in a single year, and peak debt has been reduced by $9.5 billion, now expected to top out much lower.

Importantly, this has occurred while outcomes have improved. Build costs are falling, renewals are accelerating, rent arrears are down by nearly 3000 households, and tenancy satisfaction has risen to 87 percent. It is a practical example of what happens when government focuses on accountability, value for money, and delivery – lifting performance, while reducing debt.

Taken together, these reforms share a common purpose.

They back ownership.

They reward investment.

They lift productivity.

And they provide the policy consistency New Zealand needs to grow with confidence over the long term.

That is what economic leadership looks like, and it is the platform on which sustainable growth is built.

Closing reflection

Let me finish where I began – with choices.

New Zealand’s future will be shaped by whether we back the people who invest, build, and create opportunity, or burden them with uncertainty and cost.

This Government has made its choice.

We are backing ownership.

We are backing investment.

We are backing productivity.

We are fixing the basics and building the future.

Others may argue for higher taxes and more spending.

But every one of those choices comes with a price – and that price is paid by hard working Kiwis.

If we make disciplined choices grounded in the simple belief: that New Zealand succeeds when people have confidence in the future, clear rules to operate within, and the freedom to invest and grow.

Then New Zealand’s future is not something to be cautious about,

It is something to be confident in — and something to build.

Thank you.

LiveNews: https://livenews.co.nz/2026/02/12/backing-ambition-building-growth/

Cyber and Supply Chain Risks Reshaping Japan’s Business Landscape, Aon Survey

Source: Media Outreach

“Geopolitical Volatility” is a top five current and future risk, highlighting the growing instability across the region
83 Percent of Firms Report Rising Insurable Risk Costs

TOKYO, JAPAN – Media OutReach Newswire – 12 February 2026 – Aon plc (NYSE: AON), a leading global professional services firm, has released the Japan findings of its 2025 Global Risk Management Survey. The survey reveals that Japanese businesses are navigating a complex landscape marked by persistent cyber threats, supply chain disruptions and weather/natural disasters. The survey, which gathered insights from nearly 3,000 risk managers, C-suite leaders and executives across 63 countries, highlights the unique risks Japan businesses are facing amid global disruption.

Japan’s Top Risks:

“Cyber Attacks/Data Breach” remains the top risk for Japanese businesses, consistent with global trends. “Supply chain or distribution failure” ranks second, as extreme weather events and mounting geopolitical volatility including shifting trade policies force companies to reassess their supply chains. In addition, “Product Liability/Recall” and “Exchange Rate Fluctuation” pose significant risks, reflecting the country’s manufacturing strength and exposure to global market volatility. Notably, 63.6 percent of Japanese respondents reported losses due to product liability or recall issues and 47.6 percent cited losses from exchange rate fluctuations.

Tatsuya Yamamoto, CEO of Japan at Aon, said, “Japanese organisations are operating in an environment of unprecedented complexity. Cyber, weather and geopolitical risks continue to be acute challenges for Japan businesses, underscoring the need for robust risk management frameworks and agile strategies. As market trends shift and competition intensifies, vigilance and adaptability will be key. The interconnectedness of risks – where a cyber attack can disrupt supply chains or geopolitical volatility can trigger regulatory changes – demands a holistic, proactive approach to resilience.”

2025 Top 10 Business Risks in Japan

Cyber Attacks/Data Breach
Supply Chain or Distribution Failure
Weather/Natural Disasters
Geopolitical Volatility
Business Interruption
Economic Slowdown/Slow Recovery
Exchange Rate Fluctuation
Commodity Price Risk/Scarcity of Materials
Product Liability/Recall
Failure to Attract or Retain Top Talent

Risk Management: Formalisation and Focus on Insurable Risks

Japanese organisations demonstrate a strong commitment to risk management, with 74.7 percent having a formal risk management and insurance department, compared to 68.4 percent globally. Additionally, 75.3 percent measure the total cost of insurable risk and 83.3 percent report that these costs are increasing. While risk awareness is rising, most organisations have yet to quantify their exposures or leverage advanced analytics.

Japanese Businesses Risk Management Assessments for Top Three Risks

For “Cyber Attacks/Data Breaches”:

27.2 percent have assessed the risk
12.6 percent have developed continuity plans
22.3 Percent have risk management plans

For “Supply Chain or Distribution Failure”:

25 percent have assessed the risk
20 percent have developed continuity plans
26.7 Percent have risk management plans

For “Weather/Natural Disasters”:

24.1 percent have assessed the risk
22.4 percent have developed continuity plans
13.8 percent have risk management plans

Future Risks: Rapidly Changing Market Trends and Geopolitical Volatility

Looking ahead, Japanese organisations expect “Weather/Natural Disasters” and “Geopolitical Volatility” to remain critical risks, alongside “Rapidly Changing Market Trends,” which is more prominent in Japan than globally. This highlights the country’s exposure to climate events and evolving consumer preferences.

Japan’s Top Five Future Business Risks by 2028:

Cyber Attacks/Data Breach
Weather/Natural Disasters
Geopolitical Volatility
Rapidly Changing Market Trends
Increasing Competition

Shinichi Kandatsu, head of Commercial Risk Solutions for Japan at Aon, said, “Cyber and weather-related risks continue to lead the rankings as top concerns for Japanese businesses today and in the future, with geopolitical volatility also ranking among the top five risks across both periods. This trend reflects the growing instability across the region, with implications for supply chains, regulatory environments and financial performance. In today’s fast-moving market, leveraging advanced data analytics is essential for businesses to anticipate emerging risks, optimise risk capital and build resilience. The findings from Aon’s Global Risk Management Survey provide Japanese businesses with actionable information to benchmark their risk strategies and identify areas for improvement.”

To access the full report and explore how Aon is helping clients navigate today’s disruption dynamic, visit Global Risk Management Survey Japan

Hashtag: #Aon

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

LiveNews: https://livenews.co.nz/2026/02/12/cyber-and-supply-chain-risks-reshaping-japans-business-landscape-aon-survey/

Health experts call on Pharmac to fund female-specific testosterone

Source: Radio New Zealand

A woman applies post-menopause hormone gel. COLLANGES / BSIP via AFP

An endocrinologist says more than half the women she sees on testosterone for low libido are taking too high a dose, and she and her colleagues are calling on Pharmac to finally fund a female-specific product.

Pharmac is set to consider funding AndroFeme 1 on Thursday, which unfunded costs anywhere between $150 and $250 for a three-month supply, depending on the pharmacy.

To avoid that cost, many women are prescribed a funded alternative, called Testogel, which is formulated for men.

Testosterone is usually thought of as a male hormone, but it is also found in women. It is prescribed to treat low libido, also know as Hypoactive Sexual Desire Disorder (HSDD), in women who are postmenopausal.

Women’s health advocate and director of Cala Clinic, Jenna Scullin, explained: “Similar to males, women’s testosterone levels decline gradually over their lifetime.

“By the time a woman is at a menopausal age, it has often halved.”

Men who needed a boost of the hormone had the choice of four funded products, whereas women had no funded options.

Pharmac has twice declined to fund AndroFeme 1, first in 2024, saying the eligibility criteria (“postmenopausal women with HSDD”) was not appropriate and posed significant barriers to equitable access for women – particularly for women who, for cultural reasons, did not wish to undergo aspects of an HSDD diagnosis.

It also considered there was an “uncertain health benefit” in using AndroFeme 1 over the unapproved, or off-label use of Testogel, saying that if equivalent doses were administered, there should not be a significant difference in their effect.

At that stage, the discussion document showed there were 2300 people dispensed Testogel between February and November, and approximately 46 percent of those identified as female.

In 2025, the decision was reassessed, and the result was “no formal recommendation” which meant the previous decision stood – but this time Pharmac noted there was a need to fund a product with an appropriate dose for women, to minimise potential harm.

Endochrinologist Dr Anna Fenton from Oxford Women’s Health explained there was no research on how testosterone was metabolised by the female body.

Endochrinologist Dr Anna Fenton from Oxford Women’s Health. Supplied / Oxford Women’s Health

“Women are being prescribed this without the appropriate baseline testing without, often, follow-up blood testing to make sure the level is appropriate.”

And it could be difficult for women to work out the correct dose of Testogel when it came out of the pump bottle, she said.

“It’s very hard to titrate the dose of a blob of gel, which is what you get from the pump dispenser, into something that is a quarter or a fifth of that dose, which is possibly what’s appropriate for women.”

Fenton said more than half of the women she treated who had been prescribed Testogel were showing testosterone levels that were too high.

“I had a woman the other day who had 12 times the upper end of the female range, so it was well into the male range.”

Side effects included greasy skin, acne or extra body hair growth, but at the extreme end, it could lead to changes in voice or enlargement of the genitals – and those effects were permanent, Fenton said.

New Zealand had “the bare minimum” available when it came to hormone replacements, which included things like oestrogen patches, trailing behind the likes of Australia, the UK, US, and Canada.

She, along with fellow endocrinologists Dr Megan Ogilvie, Dr Sylvia Rosevear, Dr Susannah O’Sullivan and Dr Sasha Nair, have made a joint submission to Pharmac ahead of its meeting, endorsed by the Australasian Menopause Society, urging it to prioritise “evidence-based, female-specific therapies” and fund AndroFeme 1.

“We urge Pharmac to refrain from normalising the use of male-formulated testosterone products in women.”

The company behind Testogel, Pharmaco, has made no claims of its safety for women.

It supplied RNZ with a statement, saying: “Testogel is a prescription medicine specifically formulated and approved to be used by men with low testosterone levels. The relevant data sheets and Consumer Medicine Information clearly state that the medicine should not be used by women.”

Pharmac director for advice and assessment David Hughes confirmed AndroFeme’s application was on the agenda for the Pharmacology and Therapeutics Advisory Committee (PTAC) meeting on Thursday.

“PTAC gives Pharmac clinical advice to help us make decisions about how to use our funding,” he said in a statement. “The committee reviews the evidence behind funding applications and looks at how strong and reliable that evidence is.”

He said a recently-received a submission would be discussed at the meeting.

Pharmac would aim to publish the provisional recommendation online within 30 days of the meeting, although that could be subject to change.

Female testosterone deficiency ‘more than just a low libido’ – health advocate

Scullin said one in three women between the ages of 40 and 64 experienced the effects of reduced sexual desire.

“It’s more than just a low libido, we see that it affects women’s mental health, it affects their social functioning, their relationships, their confidence and their overall wellbeing.

“There’s this view sometimes that a woman’s sexual function is not essential,” she said. “But when a man comes forward with needing assistance, there’s one of four funded options accessible to him.”

She said while some GPs and specialists were comfortable prescribing Testogel to women despite the lack of safety data, a number were not, “so it’s not just that we’re asking for a female-formulated option, but in many cases we’re actually asking for an option for women”.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://livenews.co.nz/2026/02/12/health-experts-call-on-pharmac-to-fund-female-specific-testosterone/

HGC Announces Appointment of Cliff Tam as Chief Commercial Officer of International Business

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 11 February 2026 – HGC Global Communications(“HGC” or “the Group”) a fully-fledged network operator with extensive global coverage and ICT solution provider, has appointed Cliff Tam as Chief Commercial Officer – International Business, effective immediately. This strategic appointment reinforces HGC’s commitment to accelerating the growth of its international business (“IB”), deepening global network solutions, and advancing the Group’s position as a trusted enabler of international connectivity and digital infrastructure worldwide.

Cliff Tam is appointed as Chief Commercial Officer – International business of HGC

In his new role, Cliff will spearhead the Group’s international commercial strategy, leading the IB organisation to sharpen its global focus, deepen niche market penetration. He will champion the shared network philosophy in Southeast Asia (“SEA”) region to drive next-generation ready digital infrastructure development and capture new opportunities arising from AI adoption and global digital transformation. Leveraging HGC’s regional network cluster, Cliff will support companies in achieving seamless cross-border integration from Hong Kong as a key telecommunications hub across Chinese Mainland, and other international markets. Meanwhile, Ravindran Mahalingam, Senior Vice President – International Business & Digital Infrastructure, will support Cliff in identifying in-country projects across SEA and driving scalable and sustainable businesses for the Group.

With over 30 years of industry experience, Cliff brings a strategic global perspective that align with evolving needs of today’s interconnected digital economy and rapidly changing global environment. He has been repeatedly recognised by Capacity Power 100 as one of the most influential leaders in the telecommunications industry, underscoring his impact on shaping international carrier and digital ecosystem trends.

Andrew Kwok, Chief Executive Officer of HGC, said “Cliff’s appointment marks a significant step forward in HGC’s global development. As we establish a next-generation regional telecommunications network, encompassing international connectivity, local networks, and strategic network hubs, also incorporating AI development to future-proof our infrastructure. By leveraging HGC’s global network cluster, we will strengthen an interconnected telecom ecosystem that further reinforce Hong Kong’s status as one of the leading international telecommunications hub and support the continued evolution of the global digital economy.”

Cliff Tam, Chief Commercial Officer – International Business of HGC, said, “I am honoured to assume this role and remain focused on driving long‑term value for HGC’s international business. By deepening collaboration with our regional and global partners, we will advance the shared network philosophy to support companies respond to fast changing market dynamics driven by AI and emerging technologies. With HGC’s extensive international connectivity and embracement to AI adoption, we will empower OTTs, hyerscalers and enterprises to expand across borders, evolve in global markets, and accelerate their digital transformation. I look forward to leading our team in shaping new possibilities and strengthening HGC’s position as a trusted international partner in the rapidly evolving global digital landscape.”

Hashtag: #HGC

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

LiveNews: https://livenews.co.nz/2026/02/11/hgc-announces-appointment-of-cliff-tam-as-chief-commercial-officer-of-international-business/

APAS Made Debut at Industry Flagship Event Asia Photonics Expo 2026 in Singapore Showcases Automotive Photonics Innovations

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 11 February 2026 – Centre of Advanced Power and Autonomous Systems (APAS), under the Hong Kong Productivity Council (HKPC), made its first-ever appearance at the Asia Photonics Expo (APE 2026)—Asia’s leading platform for photonics technology innovation—held in Singapore from 4 to 6 February. During the exhibition, APAS showcased its advanced automotive photonics R&D achievements to photonics experts and enterprises in the field from across Asia and around the world. Featured innovations included an Automotive-grade MEMS Drive OIS Actuator and an Augmented Reality Head-up Display for Commercial Vehicles.

Meanwhile, APAS organised the “Go Global to Southeast Asia: Singapore Photonics and Emerging Industries Delegation“, leading representatives from Hong Kong and Chinese Mainland enterprises to participate in APE 2026 as well as a series of site visits and exchange activities. This initiative aimed to present Hong Kong’s comprehensive R&D and industrial strengths in photonics and emerging sectors to the international community. It also sought to help small and medium-sized enterprises (SMEs) in understanding market dynamics and technological trends in Singapore’s photonics and emerging industries, facilitate cross-regional business networking, and support enterprises in expanding into Southeast Asian and global markets.

Mr Yonghai DU, Chief Innovation Officer of HKPC and General Manager of APAS, said, “The ’15th Five-Year Plan’ Recommendations emphasise fostering emerging industries and accelerating the development of industrial clusters in strategic emerging fields such as new energy and new materials. Over the years, HKPC has been committed to helping enterprises turn R&D outcomes into competitive market application solutions. APAS focuses on R&D in various technological fields, including green transportation, smart mobility, intelligent systems and emerging applications. By collaborating with industry, academia and research institutions, APAS transforms R&D outcomes into commercially viable products and solutions, thereby enhancing Hong Kong’s competitiveness in the fields of new energy vehicles and intelligent driving”.

“Photonics plays an irreplaceable role in data acquisition, transmission and processing, and is therefore critical to the field of intelligent driving. This is APAS’s first participation in the APE, together with the organisation of a delegation to Southeast Asia, aims to lay a more solid foundation for the long-term development of automotive photonics technologies, while supporting businesses in expanding into photonics and emerging industries markets in Southeast Asia”.

First Debut in APE 2026 to Deepen International Photonics Industry Connections
Photonics technologies are widely applied across various sectors, including communications, information technology, healthcare, industrial manufacturing and energy. Held in Singapore, APE 2026 is one of the most influential events in the photonics industry in Asia. It brought together research institutions, technology companies and industry leaders from around the world to showcase cutting-edge technologies and innovative application scenarios across the entire photonics value chain. As a leading R&D institution in new energy and intelligent driving, APAS made its debut at APE 2026, leveraging its R&D strengths to contribute to technological collaboration and application innovation within the photonics industry. It not only helps Hong Kong and Chinese Mainland enterprises build bridges to the global photonics industry and expand market opportunities, but also supports Hong Kong’s active integration into the international photonics ecosystem, further promoting cross-regional technology exchange and industrial collaboration.

As a member of the HKSAR Government’s “Task Force on Supporting Mainland Enterprises in Going Global”, HKPC also shared its comprehensive “GoGlobal” services with exhibition participants during the event. These services include smart manufacturing, technology research and assessment, international standards and testing, professional services, training and study missions, as well as funding schemes—highlighting Hong Kong’s unique advantages in supporting enterprises’ global expansion. Ms Teresa POON, Deputy Director of the Hong Kong Economic and Trade Office in Singapore, visited the APAS booth to learn about the latest automotive photonics technologies and R&D achievements in Hong Kong, and to exchange views on the city’s strengths in the photonics industry.

In addition, Dr Rick MO, Head of Business Development and Commercialisation and Head of Emerging Applications of APAS, was invited to deliver a keynote speech on the impact of 2D material semiconductor innovations on the future development of smart mobility and high-end manufacturing. The APAS team has been deeply involved in the field of third-generation semiconductors for many years. Its development of silicon carbide-based systems and controllers have significantly improved the energy efficiency and driving range of new energy vehicles. Looking ahead, the team will explore the replacement of traditional chip electronic signals with optical signals, further advancing the application and development of related technologies.

Advancing Automotive Photonics R&D to Support Smart Mobility and Smart City Development
During APE 2026, APAS set up a dedicated exhibition zone to showcase its latest automotive photonics solutions in support of smart mobility and smart city development. The exhibits included:

Automotive-grade MEMS Drive OIS Actuator: The technology is designed to stabilise imager sensor shifts in Full HD dash cameras. It effectively reduces image shake caused by road vibrations or cornering, significantly enhancing image stability and clarity. When combined with object detection and recognition capabilities, the dash camera prototype can continuously deliver clear images and reliable driving records, even in busy urban areas, on winding roads or in tunnels, and in adverse weather conditions. This helps to improve overall road safety.
Augmented Reality Head-up Display for Commercial Vehicles: By combining virtual images with the real-world view, key driving information such as navigation routes, vehicle speed and safety alerts, is projected directly onto the windshield. This allows drivers to access critical information without having to divert their gaze, thereby enhancing driving focus and safety. The solution can also be optimised for the practical operating scenarios of commercial vehicles such as buses and trucks.

Promoting International R&D Exchange and Exploring Southeast Asian Market Opportunities
In addition to participating in APE 2026, the “Go Global to Southeast Asia: Singapore Photonics and Emerging Industries Delegation” arranged visits for enterprise representatives to several world-class universities and research institutions in Singapore, including Nanyang Technological University, the National University of Singapore, Singapore University of Technology and Design, and the Agency for Science, Technology and Research. These visits provided in-depth insights into the latest R&D and technology commercialisation cases in areas such as quantum photonics, smart sensing, semiconductors and emerging applications, enabling participants to better grasp market trends and collaboration opportunities in photonics and emerging industries.

Through this series of visits and exchanges, HKPC and APAS played a bridging role in showcasing Hong Kong’s R&D capabilities and industrial strengths in photonics and smart mobility to the global community, supporting SMEs in capturing opportunities in the Southeast Asian market, and promoting the long-term development of the photonics and smart mobility industries.

Hashtag: #HKPC #APAS

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

LiveNews: https://livenews.co.nz/2026/02/11/apas-made-debut-at-industry-flagship-event-asia-photonics-expo-2026-in-singapore-showcases-automotive-photonics-innovations/

medisana Strengthens Home Healthcare Access in Malaysia and Brunei Through Strategic Partnership with DKSH

Source: Media Outreach

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 11 February 2026 – medisana, a trusted global brand in home health and wellness solutions, has announced a strategic partnership with DKSH Business Unit Healthcare to expand distribution and commercial execution for its medical device portfolio across Malaysia and Brunei. This collaboration marks a significant step in medisana’s commitment to making reliable home healthcare monitoring solutions more accessible to individuals, families, and communities across the region.

Under this partnership, DKSH will support medisana with comprehensive market expansion services, encompassing sales, merchandising, distribution, and logistics across all retail and institutional pharmacy channels. With DKSH’s extensive pharmacy network and deep healthcare expertise, the collaboration will accelerate medisana’s growth in key medical device categories, including blood pressure monitors, thermometers, inhalers, TENS machines, pulse oximeters, blood glucose meters, and blood glucose strips.

Michael Gao Feng, Managing Director at medisana, stated:
“Our mission has always been to empower people to better manage their health at home. Partnering with DKSH enables us to strengthen our presence in Malaysia and Brunei while ensuring that our trusted home healthcare solutions are accessible through more pharmacy touchpoints. DKSH’s strong distribution capabilities and understanding of the healthcare landscape make them an ideal partner for our continued expansion in Asia.”

Sandeep Tewari, Vice President, Healthcare and Head, Country Leadership, Malaysia at DKSH, added:
“We are proud to welcome medisana to DKSH’s healthcare portfolio. By combining medisana’s trusted medical device solutions with DKSH’s extensive commercial reach and execution excellence, we aim to expand access to high-quality home healthcare monitoring devices and drive sustainable growth across Malaysia and Brunei, ultimately enriching people’s lives by providing healthcare for all.”

The partnership underscores medisana’s continued commitment to innovation, accessibility, and improving quality of life through user‑friendly healthcare technologies. As demand for home health monitoring continues to rise, medisana will leverage this collaboration to deepen its footprint across Southeast Asia and provide greater support to healthcare professionals and consumers alike.

http://medisana.asia/my-en
https://www.facebook.com/medisana.my
https://www.instagram.com/medisana.my

Hashtag: #medisana #healthwellness

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

LiveNews: https://livenews.co.nz/2026/02/11/medisana-strengthens-home-healthcare-access-in-malaysia-and-brunei-through-strategic-partnership-with-dksh/

BusinessNZ – Amid tough energy decisions, LNG plan has potential

Source: BusinessNZ

The Government’s announcement that it will proceed with the procurement of an LNG terminal has the potential to lower the extreme electricity prices NZ experiences in a dry year when the lakes are low, the BusinessNZ Energy Council (BEC) says.

Director of Advocacy Catherine Beard says the economic analysis indicates a net benefit to all electricity consumers, including industrial and commercial energy users.

“BEC supports steps made to increase security of supply, and the greater energy security provided by adding another fuel source to the mix is welcome. But it is regrettable that this decision has had to have been made.

“There are no easy choices to get through the energy transition from declining natural gas supplies to renewables. In the current context, LNG appears to have been the necessary course of action.

“As everyone is finding out the hard way, energy is not ‘a nice to have’ but a critical service that enables economic activity and social wellbeing. Without reliable and affordable energy, growth and investment stall.”

Beard says the risk of de-industrialisation in New Zealand is real without policy certainty and strategic direction required to unlock investment in new supply.

“A comprehensive energy strategy is essential to give the sector clarity and ensure long-term affordability and reliability.

“BEC has long called for such a strategy, one with bi-partisan support. We cannot lurch from pillar to post on the future of energy, with every change of Government. Energy is a fundamental need for a functioning economy and healthy society, and we need to plan for a successful supply of energy with a regulatory environment that gives predictability and encourages investment.

“We look forward to the Government releasing more information as the procurement process moves forward.”

The BusinessNZ Network including BusinessNZ, EMA, Business Central and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

LiveNews: https://livenews.co.nz/2026/02/11/businessnz-amid-tough-energy-decisions-lng-plan-has-potential/

Banking – ASB half year result: Supporting our customers for long-term prosperity

Source: ASB

ASB has reported a cash net profit after tax (NPAT) of $719 million for the six months to 31 December 2025, up 1% on the prior comparative period. Statutory NPAT was $765 million.

Since December 2024, home lending has grown 8%, while business and rural lending grew by 4%. Total customer deposits increased by 5%.

Net customer margins remain flat, reflecting higher home lending margins and lower deposit margins. Net Interest Margin (NIM) was up 6 basis points driven by higher earnings due to timing effects from interest rate hedges.

ASB KiwiSaver Scheme funds under management grew by more than $1.7 billion to more than $20.6 billion, thanks to continued strong returns to customers and top quartile performing funds.[1] Collectively, ASB Group Investments manages more than $31 billion for investors across its range of five products.

Operating expenses were $839 million, an increase of 21% largely driven by the settlement of the Credit Contracts and Consumer Finance Act 2003 class action proceedings, and investments in people, technology modernisation, digital experience and regulatory compliance.

Chief Executive Vittoria Shortt says “While the geopolitical outlook remains uncertain, we are seeing more confidence in the economy, supported by lower interest rates and good export earnings in key sectors. This is evident in the uptick we’ve seen in business lending, with more lending growth across small business, commercial and rural this half than in the previous financial year.

“We remain well positioned to support our personal and business customers as they continue to tackle higher costs, navigate volatility or transition to growth.”

Investing in our customer experience

“We continue to make significant investments so customers choosing to bank with ASB have a simple and modern experience, where they feel informed and confident about making important financial decisions and safer knowing we actively seek to protect them from fraud and scams.

“Through our technology modernisation we are simplifying the way we work and the services we provide, removing overlap and complexity and offering products that might better suit our customers’ changing needs.

“We have a focus on service excellence and meeting customers’ expectations of faster and simpler processes, with quicker decisions on their home loan applications. Building on our capability for single home loan applications to be started digitally through the ASB Mobile App, in November we extended this functionality to include joint home loan applications. Customers can track the progress of their application and view indicative pricing in the ASB Mobile App, so they remain informed at every step.”

Further customer protections

“Fraud and scams remain an issue for New Zealand, and we continue to seek to make banking with us safer with enhanced customer protections against economic crime.

“We are now able to share data between banks related to digital fraud and money mule activity through the Fraud Reporting Exchange and New Zealand Data Exchange. We remain available to assist customers 24/7 on our 0800 ASB FRAUD line.”

Investing in New Zealand

“While we’ve seen business lending growth pick up, with increases across agricultural and property lending, for long-term prosperity New Zealand needs to become more productive.

“We are backing business customers to boost their productivity using artificial intelligence and technology in partnership with the New Zealand Product Accelerator and universities. Following a successful pilot, the programme is being scaled up this year to match up to 100 ASB business customers with AI, business analytics and data science masters’ students to work on their business.

“We are continuing to show up for rural New Zealand with offerings to help with transformation and succession through our Every Hectare Matters programme, and reduce costs with ASB’s Smart Solar 0% lending to assist the switch to renewable, resilient energy. We are supporting the future of the dairy industry and empowering the next generation of farmers towards the goal of farm ownership with financial support and expertise in partnership with the New Zealand Dairy Industry Awards and Fonterra.

“These initiatives are highly valued by the rural sector, as a result we have grown our rural lending more than any other bank in the 12-months to September 2025.[2]

“Long-term prosperity also requires that we have enough housing to support our growing population and easier access to more affordable housing solutions. We have doubled our commitment to $1 billion to accelerate the development of social and affordable housing and the long-term delivery of thousands of new homes. To date we have committed $517 million for social and affordable housing, and this half we committed nearly $50 million to a Māori social housing provider in Tāmaki Makaurau to deliver more than 150 homes.”

Saving for the future

“Regular savings provide a pathway to long-term financial wellbeing and broader economic resilience for Aotearoa.

“We have put a lot of effort into the ASB Investment Funds and the ASB KiwiSaver Scheme so we can offer competitive investment options for customers. We have multiple top performing KiwiSaver funds with low fees, and this is a powerful combination that can make a big difference for our nearly half a million ASB KiwiSaver Scheme members who stand to benefit when purchasing a first home and/or in retirement.

“We remain focused on how we can help tamariki build financial literacy and early savings habits. In November, we reintroduced our Kashin moneybox to celebrate ASB’s 150 years of supporting Kiwi kids to get one step ahead with money. We’ve seen a notable increase in the opening of new Headstart accounts, helping children to start their savings journey. We continue to support the delivery of financial education nationwide with nearly 45,000 students participating this half in our GetWise and Tikitiki o Pūtea programmes in schools.”

^{^[1]} ASB KiwiSaver Scheme Conservative, Moderate, Balanced and Growth funds are in the top quartile for 12-month performance to 31 December 2025, Morningstar KiwiSaver Survey (Dec 2025).

²RBNZ quarterly release, 12-months to September 2025.

Income Statement ($ millions)
For the half year ended 31 December	2025	2024	Dec 25 vs Dec 24 %
Net interest income	1,602	1,471	9
Other operating income	233	233	–
Total operating income	1,835	1,704	8
Operating expenses	(839)	(695)	21
Operating performance	996	1,009	(1)
Loan impairment expense	(3)	(17)	(82)
Net profit before tax	993	992	–
Corporate tax expense	(274)	(278)	(1)
Cash net profit after tax (“Cash profit”¹)	719	714	1

Reconciliation of Cash profit to Statutory profit
Cash profit	719	714	1
Reconciling items:
Hedging and IFRS volatility²	7	(7)	large
Notional inter-group charges³	53	71	(25)
Reporting structure differences⁴	6	6	–
Tax on reconciling items	(20)	(21)	(5)
Net profit after tax (“Statutory profit”)	765	763	–

Performance indicators (cash basis)			6
Net interest margin (%)	2.35	2.29	6 bpts
Return on assets (%)	1.0	1.1	(10) bpts
Operating expenses to total operating income (%)	45.7	40.8	490 bpts
Return on average total equity (%)	12.0	12.6	(60) bpts

Statutory Balance Sheet ($ billions)
As at 31 December	2025	2024	Dec 25 vs Dec 24 %
Advances to customers	118.7	111.6	6
Total assets	139.7	131.9	6
Deposits and other borrowings	94.5	94.8	–
Total liabilities	127.4	120.5	6

Cash profit reflects the Banking Group’s underlying operating results and excludes items that introduce volatility and/or one-off distortions which are not considered representative of ongoing financial performance. These items are calculated consistently year on year and do not discriminate between positive and negative adjustments.
Hedging and IFRS volatility includes unrealised fair value gains or losses on economic hedges that do not qualify for hedge accounting and unrealised fair value gains or losses on the ineffective portion of hedges that do qualify for hedge accounting under NZ IFRS. These fair value gains or losses are excluded from Cash profit/(loss) since the asymmetric recognition of the gains or losses does not affect the performance of the Banking Group over the life of the hedge.
This represents the recognition of a notional cost of capital from the ultimate parent and other allocated costs which are not included in Statutory profit. Comparative information (including the tax impact) has been restated to conform to presentation in the current period. As a result, the return on average total equity and operating expenses as a percentage of total operating income have been restated accordingly.
The results of certain business units within the CBA Group are excluded from Cash profit for management reporting purposes but included in Statutory profit.

[1] ASB KiwiSaver Scheme Conservative, Moderate, Balanced and Growth funds are in the top quartile for 12-month performance to 31 December 2025, Morningstar KiwiSaver Survey (Dec 2025).

[2] RBNZ quarterly release, 12-months to September 2025.

LiveNews: https://livenews.co.nz/2026/02/11/banking-asb-half-year-result-supporting-our-customers-for-long-term-prosperity/

Nearly 40,000 more building products approved

Source: New Zealand Government

Thousands more plumbing and drainage products already used widely in Australia can now be accessed easily by Kiwi tradies and do-it-yourself homeowners.

“The Government is focused on fixing the basics and building a better future for New Zealand, and that means making it easier and more affordable to deliver the homes and public buildings that will ease house prices and lift living standards,” Building and Construction Minister Chris Penk says.

“It’s great to see the Ministry of Business, Innovation and Employment (MBIE) recognise a second tranche of overseas building products certified under the reputable Australian WaterMark scheme, issuing 54 recognition notices that cover around 38,274 products.

“A first round in October made it easier to bring more than 90,000 WaterMark-approved products onto the market, including tapware, water service products, and sanitary and stormwater drainage products.

“While these materials are already tried and tested in Australia and familiar to many tradies in New Zealand, Kiwi builders and designers previously had to individually demonstrate that each product met Building Code requirements when applying for consent to use it.

“By amending the Building Act through the Overseas Building Products Amendment Bill, MBIE can now recognise building products already certified under overseas schemes in comparable countries in the tens of thousands, rather than one at a time.

“The granting of these recognition notices means Building Consent Authorities must accept the products as compliant, reducing unnecessary red tape, costs, and delays while allowing a more diverse range of materials to be used.

“Supply chain shocks and shortages choke building productivity. Better access and greater choice provide industry with more resilience and increases market competition to put downwards pressure on prices for tradies and homeowners.

“As MBIE continues to review overseas building products under the new law, tradies and homeowners can expect even better access to essential materials, including plasterboard, cladding, windows, and doors.”

Notes to editor: 

“Recognition notice” is the official term for approval of an overseas building product or standard by MBIE.
Notices are not a blanket approval for all WaterMark certificates. Only products that have a valid, up‑to‑date certificate listed on a current notice can be used as meeting the required standards.
Recognition notices are now publicly available at www.building.govt.nz, along with a diagram showing how these overseas standards fit within New Zealand’s building regulatory framework.

LiveNews: https://livenews.co.nz/2026/02/11/nearly-40000-more-building-products-approved/

Energy Sector – Power prices predicted to surge – Consumer NZ

Source: Consumer NZ

Consumer NZ expects power prices to increase by about 5% in 2026 – a blow to households already hit with a 12% increase to power bills last year.

Households should brace for another big bump in power prices in the year ahead. The price predictions from Consumer NZ come at a time when nearly half of all New Zealanders are concerned about the cost of their household energy.¹

“Power bills are hiking up because of an increase in lines charges’ costs – that’s the cost of delivering power to your house, and it’s the amount on your bill that stays the same regardless of how much power you use,” said Paul Fuge, Powerswitch manager.

The lines charge makes up just over one-third of the power bill, and a small hike to that fixed cost makes a big difference to monthly bills.

Consumer recommends budgeting for an increase to power bills from the end of April. Customers can expect line charges alone to climb by an average of $5 per month through to 2029.

“The lines charge will add an average of $5 per month to your bill, but this figure will vary depending on where you live and who your retailer is. As well as the fixed costs, we expect consumers will face increases to the cost of the electricity they use too,” said Fuge.

Why power prices keep going up

The cost of running and maintaining the electricity networks has increased, and this cost flows through to people’s power bills.

“It’s an unfortunate reality that households are being asked to shoulder higher charges to have electricity delivered to their homes. But at the same time, heavy rainfall over summer – so extensive that major hydro lakes are spilling water –has driven down wholesale electricity prices. Those lower generation costs should be easing the pressure on consumers by offsetting these rising lines charges. That doesn’t seem to be happening. And that’s deeply unfair.”

The impact of ever-increasing power bills

Consumer’s research found that, last winter, one in five New Zealanders went to bed early to stay warm, one-quarter of people went without heating when it was cold and nearly one in five people cut back on food or other essentials to pay a power bill.²

“These drastic measures to manage power bills are not limited to one age group – young adults, older New Zealanders and everyone in between are being forced into uncomfortable and sometimes unsafe choices.

“Based on our price predictions for 2026, we think the situation will only get worse,” says Fuge.

Consumer’s tips for managing power price surges

Check you’re on the cheapest plan – Power retailers are constantly changing their offers. Just because you picked the cheapest plan last year, it doesn’t mean it’s the best plan available now. You can find if there’s a plan that’s better for you through the free and independent power comparison website Powerswitch.

Keep your eye out for April price rises – Power retailers typically increase their prices from April. Mark a date in your diary for after 1 April to check in with Powerswitch to see if there are further savings you could make by switching then.

Understand your power usage – If you can do most of your power-hungry activities, like running your washing machine and dryer, in off-peak periods, you could make big savings. Off-peak periods are usually late at night, the middle of the day and weekends. You need to be on a time-of-use plan to save the most from your off-peak power usage. Being careful with when you use your power could potentially help you offset the price rises that we are predicting.

Notes

¹ Consumer NZ Sentiment Tracker January 2026
² Consumer NZ Sentiment Tracker October 2025

Consumer NZ’s Sentiment Tracker is an online survey based on a nationally representative sample of the New Zealand population. Results are weighted by age, gender and region based on Stats NZ 2018 Census data. Respondents are sourced from Dynata, an external panel provider. Surveys are conducted quarterly with at least 1000 respondents, with a margin of error of +/-3.1%.

LiveNews: https://livenews.co.nz/2026/02/11/energy-sector-power-prices-predicted-to-surge-consumer-nz/

BRP-Rotax: Aircraft Meets Racetrack – Luke Czepiela Flies the Racing Line at Bahrain International Circuit

Source: Media Outreach

BRP‑Rotax unveils its latest milestone in aviation with Aircraft Meets Racetrack. In an unprecedented accomplishment for the Bahrain International Circuit, Red Bull athlete and Rotax Ambassador Luke Czepiela became the first pilot to fly this Grand Prix track’s complete racing line from the air, showcasing the capabilities of Rotax powered aviation in a dramatic low‑level performance.

Gunskirchen, Austria – Newsaktuell – 10 February 2026 – In a demonstration of precision aviation, Luke Czepiela traced the full ideal line of the Bahrain International Circuit at low level, including short takeoffs and landings (STOL) on the start/finish straight. The achievement is documented in the short film Aircraft Meets Racetrack, the first project to emerge from BRP-Rotax’s Brand Ambassador partnership with Luke Czepiela, launched in 2025. The short film premiered during the Bahrain International Circuit’s official F1 pre‑season press conference today.

When Racing Meets Aviation

The project transfers what racing drivers follow on the ground with high precision accuracy into the sky. The circuit’s racing line becomes an aerial flight path, demanding exceptionally tight tolerances, high and low speeds, and uncompromising line discipline. Conducting the maneuver required extreme precision. Low altitude, shifting wind conditions, more than 495 light poles, and the narrow, enclosed layout of the Grand Prix track created an environment with virtually no margin for error.

“Flying a racing line from the air demands absolute control at low altitude and instant reaction in every phase,” said Czepiela, Rotax Brand Ambassador. “It is precision flying in its purest form.”

The flight was performed in a CubCrafters Carbon Cub UL equipped with the 160‑hp Rotax 916 iS engine. The aircraft’s lightweight STOL design, immediate throttle response, and exceptional power‑to‑weight ratio made the aerial replication of the racing line possible.

Production took place during the 2025 Rotax MAX Challenge Grand Finals in Bahrain – marking the first time all project partners collaborated on‑site. Working closely with the Bahrain International Circuit, Red Bull Bahrain, and local authorities, the team implemented a comprehensive safety and operations plan. The track and airspace were fully closed to ensure uninterrupted filming, supported by constant air traffic coordination and emergency services on-site.

“With Luke Czepiela, we aimed to create something that authentically unites our two passions: racing and aviation,” said Peter Ölsinger, General Manager of BRP‑Rotax and Vice-President Sales, Marketing RPS‑Business & Communications. “This project represents technical precision, long‑standing partnerships, and the courage to pursue new creative paths.”

The film not only showcases a great achievement it underscores Rotax’s mission to connect disciplines, push boundaries, and deliver high‑performance experiences on the ground and in the air.

Links:
Youtube: https://www.youtube.com/watch?v=wNgMGArCGBU
Presskit: https://newsroom.ketchum.at/Media.aspx?menueid=34496

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

LiveNews: https://livenews.co.nz/2026/02/11/brp-rotax-aircraft-meets-racetrack-luke-czepiela-flies-the-racing-line-at-bahrain-international-circuit/

February 10, 2026

Bremworth shareholders told to expect less cash in hand if takeover goes ahead

Source: Radio New Zealand

Bremworth carpet wool. Bremworth

Carpet maker Bremworth earnings hit by tough trading
Company under takeover offer from owner of main rival Godfrey Hirst
Cash return to shareholders likely to be less than first estimated
Commerce Commission has concerns over proposed takeover

Shareholders in carpet company Bremworth have been told they will likely get less cash in the hand if a proposed takeover by the owner of their main competitor goes ahead.

The company has been made an offer by the world’s biggest flooring company US-based Mohawk Industries, which also owns competing brands Godfrey Hirst and Feltex.

It has offered 75 cents a Bremworth share, with the offer to be topped up by a distribution of excess Bremworth capital, which was estimated at the time between 30 and 40 cents a share, taking the total takeover price to between $1.05 and $1.15 cents a share, valuing Bremworth at between $70 million and $77m.

In an update on the proposal, the company said its earnings were struggling and it may not have as much spare cash as originally thought to pay to shareholders if the takeover goes ahead.

“The trading conditions that Bremworth has faced have been more difficult than anticipated. This has impacted Bremworth’s earnings, and resulted in a deterioration of Bremworth’s cash position.”

It said the capital return to shareholders now looked to be 20-30 cents a share, reducing the total takeover price to 95c-$1.05.

“Bremworth emphasises that this estimate is based on assumptions of market conditions, business performance and the timing of implementation. It therefore remains subject to change,” the statement said.

The takeover, which is backed by the Bremworth board, is being considered by the Commerce Commission which has issued a list of concerns including the prospect it would substantially lessen competition, impact prices, and that it might reduce choice for consumers.

The commission has extended its decision deadline to mid-March, but Bremworth said that might be pushed out again to mid-to-late May.

Bremworth said if the takeover does not proceed it was likely its finances would worsen.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://livenews.co.nz/2026/02/10/bremworth-shareholders-told-to-expect-less-cash-in-hand-if-takeover-goes-ahead/

LNG terminal decision: Dirty, dumb and expensive – Greenpeace

Source: Greenpeace

Greenpeace is slamming the Luxon government’s announcement it will build a liquid natural gas (LNG) import terminal, calling it a dirty, dumb and expensive decision that will leave New Zealanders subsidising more climate pollution through higher electricity bills.

The decision comes despite the expected high cost and high emission intensity of imported LNG. Building the LNG terminal is expected to cost $1 billion, while the cost of imported LNG is expected to be around twice as much per gigajoule as gas from existing onshore reserves.

“Electricity consumers will pay a Luxon Tax on their electricity bills to subsidize the fossil fuel industry,” says Greenpeace Executive Director Russel Norman.

“Instead of investing in clean energy, this Government is choosing to double down on the very fossil fuels that are driving both high power prices and extreme weather events.

“Every additional tonne of fossil fuels burned makes climate change worse. This LNG decision is yet another fossil fuel subsidy from the Luxon government that will mean more floods, storms, and climate fuelled damage.

“It makes no sense to rely on imported and expensive fossil fuels when we have abundant, cheap energy sources right here at home with wind and solar.”

A report by MBIE in 2024 found that there was no need for new fossil fuels to maintain New Zealand’s energy security out to 2050 and reported that wind and solar are the cheapest sources of new electricity generation.

Meanwhile, a 2023 Concept Consulting report found onshore gas reserves alone can supply all needs out to 2050 if Methanex, the company using between one third to a half of the country’s gas to make methanol for export, were to close, which it inevitably will as gas prices rise.

“This Government has made the energy and climate crises worse by dismantling nearly every initiative to decarbonise the energy system. They ditched the Government Investment in Decarbonising Industry fund, the NZ Battery Project, and the Gas Transition Plan.

“Businesses are closing because the Government believed its own nonsense that the oil and gas exploration ban was the cause of high electricity prices. It never was and the LNG subsidy will solve nothing,” says Dr Norman.

“They even got rid of the Climate Emergency Response Fund set up to help communities recover from climate disasters. Now, they are planning to use more public money to bankroll fossil fuels for more climate emergencies.

“The Government should be investing in cheap, renewable wind and solar, backed by more storage and demand response, not exposing the country to a volatile global LNG market and locking us into more polluting fossil fuels.”

LiveNews: https://livenews.co.nz/2026/02/09/lng-terminal-decision-dirty-dumb-and-expensive-greenpeace/

Health and safety sentencing gives important lessons for ‘overlapping duties’

Source: Maritime New Zealand

A sentencing in the Nelson District Court today [February 9] gives important health and safety lessons for when businesses are working together at the same workplace.

Maritime NZ Deputy Chief Executive Regulatory Operations, Deb Despard, says this is the ‘overlapping duties’ principle in the Health and Safety at Work Act. Importantly, while this case involved a fishing vessel, the lessons can apply to all industries covered by the Act, not only the maritime and ports sectors.

Maritime NZ prosecuted Sealord Group Limited after a crew member of the Sealord fishing vessel, Rehua, was trapped and crushed when a winch he was working on started unexpectedly. The crew member suffered serious chest injuries.

Sealord pled guilty to one charge under section 34 of the Act and was sentenced today.

The incident occurred on 4 June 2022, when Rehua was docked at Port of Nelson for planned maintenance. This included refitting its winch systems. Two other companies were also involved in the refit of the winches.

The Act makes each business responsible for carrying out their health and safety duties at the workplace, which in this case was the Rehua.

Business must also work together to manage safety (the Act says they consult, cooperate and coordinate activities). This is so they have shared understanding of the work and the risks, and agree who is best placed to manage safety.

It was reasonably practicable for Sealord to consult, cooperate with, and coordinate activities with the other businesses by ensuring:

· a toolbox talk involving all people working around or with the winch system, discussing the winch controls and a safe system of working that day took place

· there was clear communication of a safe system of work

· clear communication of training and supervision for the work involving the winch system.

“The lessons from this incident are being used to help keep others safe,” Ms Despard says.

“Maritime NZ is working with senior leaders in the industry through the Fishers’ Health and Safety Leadership Group, including Sealord, to progress initiatives together to prevent harm in the fishing sector.”

Maritime NZ is also sharing information about this case with the maritime and port sectors to increase knowledge of the Act and help prevent harm in future.

Editors’ note:

The Health and Safety at Work Act uses the term ‘person conducting a business or undertaking’ (PCBU). For ease of reading by the general public, Maritime NZ has referred to PCBUs as businesses in this media release. In this case the three PCBUs involved were businesses.

The Court ordered Sealord to pay $40,000 reparations to the injured crew member and imposed a fine of $12,950.

LiveNews: https://livenews.co.nz/2026/02/09/health-and-safety-sentencing-gives-important-lessons-for-overlapping-duties/

Maritime NZ – Health and safety sentencing gives important lessons for ‘overlapping duties’

Source: Maritime NZ

A sentencing in the Nelson District Court today [February 9] gives important health and safety lessons for when businesses are working together at the same workplace.

Maritime NZ prosecuted Sealord Group Limited after a crew member of the Sealord fishing vessel, Rehua, was trapped and crushed when a winch he was working on started unexpectedly. The crew member suffered serious chest injuries.

Sealord pled guilty to one charge under section 34 of the Act and was sentenced today.

The incident occurred on 4 June 2022, when Rehua was docked at Port of Nelson for planned maintenance. This included refitting its winch systems. Two other companies were also involved in the refit of the winches.

The Act makes each business responsible for carrying out their health and safety duties at the workplace, which in this case was the Rehua.

It was reasonably practicable for Sealord to consult, cooperate with, and coordinate activities with the other businesses by ensuring:

· a toolbox talk involving all people working around or with the winch system, discussing the winch controls and a safe system of working that day took place

· there was clear communication of a safe system of work

· clear communication of training and supervision for the work involving the winch system.

“The lessons from this incident are being used to help keep others safe,” Ms Despard says.

Maritime NZ is also sharing information about this case with the maritime and port sectors to increase knowledge of the Act and help prevent harm in future.

Notes:

The Court ordered Sealord to pay $40,000 reparations to the injured crew member and imposed a fine of $12,950.

LiveNews: https://livenews.co.nz/2026/02/09/maritime-nz-health-and-safety-sentencing-gives-important-lessons-for-overlapping-duties/