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CBC
3 days ago
- General
- CBC
Followed, threatened and smeared — attacks by China against its critics in Canada are on the rise
For Yao Zhang, the news came as a shock. Sexually explicit, deepfake images of her were circulating widely online — an attack that Ottawa blamed on the Chinese government. It wasn't the first time Zhang had been targeted by China. Shortly after the Quebec-based accountant-turned-influencer travelled to Taiwan in January 2024 to support its independence, China's national police paid a visit to her aunt in Chifeng, in mainland China. Zhang was also doxxed — private information about her and members of her family was posted to a website listing people who weren't loyal to China — information only the Chinese government would know. False rumours began to spread online designed to discredit her, alleging that she had an affair with her stepbrother, that she was being paid by the U.S. government. Zhang isn't alone. CBC News spoke with several other Canadian activists who have spoken out against the People's Republic of China (PRC), all of whom described similar attacks: Family members in China questioned by police. Dissidents followed and surveilled in Canada. Threatening phone calls. Online attacks like spamouflage, using a bot network to push spam-like content and propaganda across multiple social media platforms. WATCH | Zhang's family paid a price: While Zhang says she still feels physically safe in Canada, the attacks take a mental toll. "I mean, they can reach you, of course, online or through your relatives in China. I don't think there's anything the Canadian government can do." An investigation by CBC News, in conjunction with the International Consortium of Investigative Journalists (ICIJ), has found attacks by the Chinese government on dissidents living in Canada — and around the world — are on the rise. It's a trend that worries experts on China, who say the attacks damage democracy and national security in Canada. "You've got a foreign government that is causing Canadian citizens and permanent residents to not feel safe in Canada, to not feel they can exercise their own rights and freedoms and speak out," said Michael Kovrig, a former diplomat and expert on Asia who was detained by China for more than 1,000 days. "By undermining those communities, they are ultimately undermining Canadian society and politics and ultimately national security." In June 2024, Parliament adopted Bill C-70 which was supposed to counter the rising threat of transnational repression and foreign interference in Canada by giving government departments and agencies more powers to fight it and by creating a foreign agent registry and a foreign interference transparency commissioner. However, nearly a year later, as reports indicate China has become more brazen, little has been done to put those measures in place, leaving it to Prime Minister Mark Carney's government to implement. In many cases, dissidents are targeted for expressing opinions contrary to the Chinese government's positions on what it calls "the five poisons": democracy in Hong Kong, treatment of Uyghurs, Tibetan freedom, the Falun Gong and Taiwanese independence. "[China] believes that a lot of the main threats to their dominance emanate from overseas," said Dan Stanton, a former CSIS intelligence officer who ran its China desk for four years. "So they need to go abroad to basically neutralize them." The ICIJ's "China Targets" investigation, in which 43 media organizations in 30 countries interviewed more than 100 victims, also documented how the Chinese Communist Party and its proxies have used international organizations such as Interpol and the United Nations to go after its critics and how little some countries have done to stop China's attacks on people living within their borders. After reviewing Chinese government guidelines, the investigation found that "tactics recently deployed against the subjects mirrored the guidelines on how to control individuals labeled as domestic security threats," the ICIJ wrote. The Chinese Embassy in Canada has yet to respond to questions from CBC News. A 'genuine scourge' Most of those interviewed didn't report the incidents to authorities in the countries where they were living, the ICIJ found, because they either feared retaliation or doubted the ability of local authorities to help. A number of victims in Canada declined interview requests from CBC News, saying they feared repercussions on themselves or their families. The ICIJ and CBC News found similar tactics being used against critics. In Canada, Justice Marie-Josée Hogue's Public Inquiry into Foreign Interference heard from a number of witnesses — some in public and others behind closed doors — who described incidents of China targeting Canadian residents on Canadian soil. Hogue's conclusion — transnational repression in Canada was a "genuine scourge" and the PRC was the "most active perpetrator of foreign interference targeting Canadian democratic institutions." "What I have learned about it is sufficient for me to sound the alarm that the government must take this seriously and consider ways to address it, Hogue wrote in her final report in January. Hogue said assessing the extent of transnational repression in Canada by China and other countries is difficult because those targeted "may fear reprisals." China uses "a wide range of tradecraft… including using a person's family and friends in China as leverage against them," she wrote. "The PRC uses its diplomatic missions, PRC international students, community organizations and private individuals, among others, to carry out its transnational repression activities." Uyghur advocate stalked Mehmet Tohti, an Ottawa-based advocate for China's minority Uyghur community in Canada, knows what it is like to be under surveillance. Shortly after the House of Commons adopted a motion recognizing that China was carrying out genocide of Uyghurs in the province of Xinjiang, Tohti was leaving a dinner in Montreal when one of the other diners, who worked with Global Affairs, warned him two cars with covered licence plates were following him that evening. "It was the kind of moment that deeply affected my daily program," said Tohti. "Since then, even if sometimes it takes a little longer, every day I take a different route to my office and a different route from my office to my home." WATCH | How Tohti stays safe: This April, Tohti's three cellphones and his laptop were attacked. After reporting it to the RCMP and the University of Toronto's Citizen Lab, he learned that the attack originated in mainland China. Tohti said many Uyghurs living in Canada are cut off from their families back in China but are also afraid to travel to some other countries for fear that China will use Interpol red notices to have local authorities arrest them and extradite them to China. Uyghur rights advocate Huseyin Celil, was arrested 19 years ago while visiting family in Uzbekistan and handed over to Chinese authorities, who refuse to recognize his Canadian citizenship. He was tried and convicted on what human rights groups have described as trumped-up terrorism charges. It is not known if Cecil is alive or dead. Canadian MPs, candidates targeted While China has gone after sitting members of Parliament, like Conservative Michael Chong and New Democrat Jenny Kwan, one of its highest profile attacks in recent months was on Joe Tay, a Toronto-area resident who has advocated for democracy in his birthplace of Hong Kong. In December, the Hong Kong Police Force issued a reward of $1 million HK ($177,111 Cdn) for information leading to his arrest for alleged national security violations. During the federal election, as Tay was running as the Conservative candidate in the riding of Don Valley North, the Canadian government's Security and Intelligence Threats to Elections (SITE) Task Force reported a transnational repression operation on Chinese-language social media platforms, amplifying posts related to the bounty and arrest warrant against Tay and suppressing search results on platforms based in the PRC. "The search engine only returns information about the bounty," the task force wrote. "This is not about a single incident with high levels of engagement. It is a series of deliberate and persistent activity across multiple platforms — those in which Chinese-speaking users in Canada are active, including: Facebook, WeChat, TikTok, RedNote and Douyin, a sister-app of TikTok for the Chinese market." At one point during the campaign, police advised that Tay stop campaigning door to door for his own safety, he confirmed. Shortly after the federal election, on May 8, news reports in Hong Kong said Tay's cousin and his wife were brought to a police station from their home in Hong Kong's Fo Tan district to "assist in an investigation" relating to Tay. Tay declined an interview request from CBC News. "I will need a much longer time to reflect on a lot of things still," he wrote in a text. Hugh Yu campaigned for Tay and leads a pro-democracy group in Toronto. He said his members are often reluctant to grant interviews or openly participate in his organization. "They walk away … a lot of people come and say, 'I'm sorry, Hugh, because I have a lot of pressure from family,'" he said, describing how "almost all" of their families in China would have their jobs or pensions threatened because of their public opposition to the Chinese government. Yu said when his group holds pro-democracy demonstrations at Toronto City Hall or at the Chinese consulate, they are watched, with people taking photos and videos. "I think at this point the CCP is very, very successful [at] controlling all of the community, the Chinese community in Canada." Gloria Fung is past president of Canada-Hong Kong Link and has lobbied for Canada to have a registry of foreign agents. She has also received phone calls warning her to stop interfering with Hong Kong's and China's affairs and notices from Google about attempts by state-level hackers to get into her computer systems. 'Trying to censor and silence' Kovrig says China tries to influence how it is perceived and control the message. If influence doesn't work, it resorts to transnational repression. "You're either trying to incentivize people to be supportive of the PRC… or you're trying to censor and silence and coerce potential critics and dissidents to be afraid to speak out," he said. "And that's the repression part." Kovrig says the PRC tends to target Chinese diaspora communities more because it is easier to intimidate people who have relatives back in China or who belong to a community where many people are sympathetic to the CCP. It's also harder for police or intelligence agencies to get inside those communities and understand what is going on. WATCH | China becoming more brazen, Kovrig says: Kovrig has also observed how the PRC has become more aggressive over time. "Whereas previously, Chinese actors might have been relatively reluctant to be more heavy-handed or coercive for fear of negative consequences, increasingly, as China has become more powerful as a state, it's become increasingly brazen about what it's willing to do." Stanton, the former CSIS officer, says where once China might have tried to bring a dissident back to China, now the surveillance and the tactics are more sophisticated. "They may approach extended family members in the PRC, starting with a subtle message, and then it gets a little graver that their relative or counterpart over in Canada is doing anti-state activity.… Maybe someone will lose a job in China to get the message to that person in Canada that they can't speak freely." Stanton, who would like to see a public inquiry on transnational repression, said the government needs a more cohesive approach to dealing with it. "You can't deal with that if the community is not prepared to come forward and talk about it," he said, adding that they're reticent about talking about it because, generally speaking, there's never any action from Canadian officials. "They're left speaking out about it and nothing's done about it from their perception." WATCH | Stanton describes China's tactics: In their responses to the ICIJ and other media organizations, other Chinese embassies dismissed reports China was engaging in transnational repression. "There is no such thing as 'reaching beyond borders' to target so-called dissidents and overseas Chinese… the Chinese government strictly abides by international law and the sovereignty of other countries," Liu Pengyu, spokesperson for the Chinese Embassy in the United States, told the ICIJ. "The notion of 'transnational repression' is a groundless accusation, fabricated by a handful of countries and organizations to slander China." As for affairs related to Hong Kong, Tibetans and Uyghurs, they "are entirely China's internal matters," Pengyu wrote. "China firmly opposes the politicization, instrumentalization, or weaponization of human rights issues, as well as foreign interference under the pretext of human rights." Activists 'dismayed' at lack of protection Dennis Molinaro, of Ontario Tech University, who recently wrote Under Siege, a book on foreign interference by China in Canadian society, said other countries like Australia and the United States have taken more steps to curb transnational repression. "A lot of activists are particularly dismayed and upset by how little has been done to protect people in Canada and Canadian citizens," he said. "There's sometimes this view that this is akin to community infighting, and it's not. "This is an aggressive state that is targeting Canadian citizens within Canada. These are citizens that are a part of Canada. They shouldn't be ignored," said Molinaro. While direct attacks and threatening phone calls have been largely confined to more active members of the Chinese diaspora in Canada, Fung said transnational repression has had a chilling effect on the entire community. "There's a very famous idiom in China that you kill the chicken to scare all the monkeys." Fung said by delaying the implementation of the foreign agent registry provided for in Bill C-70, the government is giving "a green light" to foreign agents to continue to operate on Canadian soil without any consequences. Public Safety Minister Gary Anandasangaree's office has yet to respond to requests from CBC News for an interview. Max Watson, spokesperson for the ministry said the government has been actively responding to transnational repression, working with communities and with international partners to address the threat. However, Watson said several steps are still required to implement the provisions of C-70, such as drafting regulations, setting up the office, appointing the commissioner and building the IT infrastructure for a registry. But advocates like Tohti and Yu say their sense of safety and security in Canada has deteriorated. Unlike 20 years ago, when he first arrived here, Yu says he doesn't feel safe in Canada. Zhang, however, has no plans to stop speaking out — even if what she says angers the Chinese government. "At the end of the day, Canadians will protect me from the Chinese government's hand. I truly believe that."
Globe and Mail
3 days ago
- Business
- Globe and Mail
CF Energy Announces Financial Results for the Three-month period ended March 31, 2025
TORONTO, May 28, 2025 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) ('CF Energy' or the 'Company', together with its subsidiaries, the 'Group'), an energy provider in the People's Republic of China (the 'PRC' or 'China'), announces that the Company has filed its unaudited interim consolidated financial results for the three-month period ended March 31, 2025. The unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis ('MD&A') can be downloaded from or from the Company's website at The unaudited condensed interim consolidated financial statements have been prepared in conformity with IFRS Accounting Standards as issued by the International Accounting Standards Board ('IASB') (collectively, 'IFRS Accounting Standards'). This news release contains financial terms that are non-IFRS Accounting Standards ('non-GAAP') financial measures. Results for the three-month period ended March 31, 2025 ('Q1 2025') Continuing Operations In millions Q1 2025 Q1 2024 Change % Q1 2025 Q1 2024 Change (except for % figures) RMB RMB RMB CAD CAD CAD Continuing Operations Revenue 105.0 149.0 (44.0) -30% 20.7 28.0 (7.3) Gross Profit 24.5 32.7 (8.2) -25% 4.8 6.1 (1.3) Gross Profit Margin 23.3% 21.9% 1.4% Net Profit 1.6 9.9 (8.3) -84% 0.3 1.9 (1.6) Adjusted net Profit [non-GAAP] 1.4 9.9 (8.5) -85% 0.3 1.9 (1.6) EBITDA 21.9 29.6 (7.7) -26% 4.3 5.6 (1.3) Adjusted EBITDA [non-GAAP] 21.7 29.6 (7.9) -27% 4.3 5.6 (1.3) Revenue in Q1 2025 was RMB105.0 million (approx. CAD20.7 million), a decrease of RMB44.0 million (approx. CAD7.3 million), or 30%, from RMB149.0 million (approx. CAD28.0 million) for the three-month period ended March 31, 2024 ('Q1 2024'). Revenue decrease in Q1 2025 reflected the bulk sales of pipeline gas to a gas supplier of a power plant in the Guangdong Province which was not repeated in Q1 2025. Excluding such bulk sales in Q1 2024, revenue in Q1 2025 remained at a similar level as that for Q1 2024. Gross profit in Q1 2025 was RMB24.5 million (approx. CAD4.8 million), a decrease of RMB8.2 million (CAD1.3 million) or 25% from RMB32.7 million (approx. CAD6.1 million) in Q1 2024. Overall gross margin in Q1 2025 was 23.3%, an increase of 1.4 percentage points from 21.9% in Q1 2024. As the bulk sales in Q1 2024 were at relatively competitive prices with very low gross margin which had a dilutive effect on the overall gross profit and margin in Q1 2024. On a comparable basis, excluding such bulk sales in Q1 2024, gross profit in Q1 2025 decreased by RMB7.9 million (approx. CAD1.6 million), or 24%, from RMB32.4 million (approx. CAD6.4 million) in Q1 2024 to RMB24.5 million (approx. CAD4.8 million) in Q1 2025 and gross profit margin in Q1 2025 decreased by 6.6 percentage points from 29.9% in Q1 2024 to 23.3% in Q1 2025. The overall drop in gross profit margin in Q1 2025 as compared to the comparable gross profit margin in Q1 2024 was mainly attributable to the increase in the purchase price of pipeline gas and the low profit margin from urban gas pipeline facility renovation project with local government, which was offset by the narrowing of the negative margin of the Integrated Smart Energy segment in Q1 2025 as the number of users and their usage increased in the period. In millions Q1 2025 Q1 2024 Change % Q1 2025 Q1 2024 Change (except for % figures) RMB RMB RMB CAD CAD CAD Continuing Operations Net profit for the period 1.6 9.9 (8.3) -84% 0.3 1.9 (1.6) Non-recurring items Government financial assistance (0.2) - (0.2) 100% (0.0) - (0.0) Adjusted net profit for the period (non-GAAP) 1.4 9.9 (8.5) -85% 0.3 1.9 (1.6) Net profit in Q1 2025 was RMB1.6 million (approx. CAD0.3 million), a decrease of RMB8.3 million (approx. CAD1.6 million) from RMB9.9 million (approx. CAD1.9 million) in Q1 2024. On a comparable basis, after excluding the government financial assistance of RMB0.2 million (approx. CAD0.0 million), the adjusted net profit in Q1 2025 (non-GAAP) was RMB1.4 million (approx. CAD0.3 million), a decrease of RMB8.5 million (approx. CAD1.6 million), or 85% from RMB9.9 million in Q1 2024. Basic earnings per share ('EPS') in Q1 2025 from continuing operations was RMB0.05 (CAD0.01) per share, a decrease of RMB0.13 (CAD0.02), as compared to RMB0.18 (CAD0.03) per share in Q1 2024. In millions Q1 2025 Q1 2024 Change % Q1 2025 Q1 2024 Change (except for % figures) RMB RMB RMB CAD CAD CAD Continuing Operations EBITDA for the period 21.9 29.6 (7.7) -26% 4.3 5.6 (1.3) Non-recurring items Government financial assistance (0.2) - (0.2) 100% (0.0) - (0.0) Adjusted EBITDA for the period (non-GAAP) 21.7 29.6 (7.9) -27% 4.3 5.6 (1.3) EBITDA (non-GAAP) in Q1 2025 was RMB21.9 million (approx. CAD4.3 million), a decrease of RMB7.7 million (approx. CAD1.3 million), or 26%, from RMB29.6 million (approx. CAD5.6 million) in Q1 2024. After excluding the government financial assistance of RMB0.2 million (approx. CAD0.0 million), the adjusted EBITDA in Q1 2025 (non-GAAP) was RMB21.7 million (approx. CAD4.3 million), a decrease of RMB7.9 million (approx. CAD1.3 million), or 27% from RMB29.6 million in Q1 2024 on a comparable basis. Company Outlook While the Company is ambitious in its goal to become the largest clean energy service solutions provider and carbon asset management company in Hainan, we recognize the economic and political instability in the world and will be cautious in our investments in the next few years. That being said, the need for CF Energy to become a clean energy service solutions provider rather than just a natural gas distributor is more important than ever. The natural gas industry faces a variety of challenges ranging from regulatory impacts to market dynamics, and in the competitive and shifting landscape, we must evolve to embrace the changes and plan ahead. Distributed Smart Energy Ecosystem – What We Achieved: CF Energy Corp. has developed from a traditional natural gas company into a comprehensive energy solutions provider that aims to incorporate its smart energy system and battery swapping network via energy storage technology to create a highly integrated and efficient framework for sustainable energy management. CF Energy's Haitang Bay integrated smart energy project and Meishan project are examples of standalone distributed energy system with advanced grid technologies that enable real-time monitoring and responsive energy distribution based on demand and supply conditions. Through ice storage technology, the Haitang Bay integrated smart energy system was founded. We have entered the field of electrochemical energy storage for cost reduction and energy conservation through the mode of battery swapping in new energy vehicles. The battery pack also serves as a power storage unit, if scaled to a network, can also be considered a distributed energy system. Incorporating battery storage into an energy system provides flexibility and enhances system stability. Strategically placed storage systems, both at utility-scale and distributed sites, ensure energy availability across the network, especially in remote or critical areas. The CF Energy battery swap station network in Sanya already successfully provides an energy storage and distribution network for the EV taxis in Sanya city. Combining deep cultivation in the energy storage field of ice and electrochemical energy storage technology, vigorously expanding cooperation with companies in the industry, relying on the customer base of the natural gas company, further promoting the application of industrial and commercial energy storage. Distributed Smart Energy Ecosystem – What We Are Currently Doing: The company is working with partners in the IoT (internet of things), and cloud services field to create an efficient EMS (energy management system) that connects the standalone distributed smart energy systems with various energy storage technologies (including battery storage). - IoT Devices and Sensors are deployed across all components of the energy system—solar panels, energy storage units, battery swapping stations, and consumer endpoints. They collect real-time data on energy production, storage levels, battery health, and consumption patterns. Using historical data and machine learning models, the EMS can predict demand spikes, potential system disruptions, and optimal energy production schedules. This helps in preemptive management, reducing wastage, and increasing system reliability. This interconnected ecosystem facilitates a sustainable, resilient, and efficient energy landscape, capable of reducing carbon footprints and promoting the use of clean energy technologies. Integrated software and management platforms monitor and control the flow of energy throughout the ecosystem. They optimize when to store energy, when to release it, and how to efficiently distribute it across various needs. CF Energy's integrated system operates on a cycle of data-driven decision-making where sensors collect data, the EMS analyzes and makes decisions, and commands are sent to adjust production, storage, or distribution. This smart, interconnected ecosystem not only supports current energy needs but also scales to meet future demands and technological advancements. By adopting an open market model, we aim to further attract upstream/midstream clean energy enterprises and improve the design, implementation, and operation of regional energy management roles. Further improve the integration of relevant supply chains, from the production end of upstream related equipment to equipment integrators, and finally in the development of relevant software and equipment operation and maintenance, forming a closed-loop chain involving production, sales, and maintenance. Distributed Smart Energy Ecosystem – Vision Moving Forward: In the past five years, the Company has successfully established itself in the district energy and renewable energy space. The Haitang Bay smart energy centralized cooling project was the Company's first venture into energy management services and despite setbacks during COVID-19, the project is now successfully in operation, reducing the overall carbon footprint of the Haitang Bay area. CF Energy is also one of the few companies in China to successfully operate battery swap station networks. Our goal for entering the battery swap business has always been in testing viability in district energy storage via station and battery packs. CF Energy's stations also incorporate solar panel installation to optimize the energy usage of the stations. The Company envisions the smart energy centralized cooling for hotels, battery swap stations, and operates as a virtual power plant with active end user participation. The combined energy capacity from the cooling system, battery swap stations, and possibly additional storage units, can act as a virtual power plant, providing grid services such as peak shaving, load balancing, and frequency regulation. The Company is working to integrate a demand response system where hotels and other end users can opt-in to adjust their energy usage during peak periods in response to incentives. For example, shifting non-essential power usage to off-peak hours. EV owners can charge their vehicles during off-peak hours to benefit from lower rates and reduce grid strain during high-demand periods. Alternatively, V2G (Vehicle to Grid) concept allows EVs to return energy to the grid during peak times, effectively using the vehicle's battery as a grid resource. Furthermore, utilizing a platform for energy trading that allows surplus energy (from renewable sources and stored energy) to be sold back to the grid or shared among participants will add additional revenue stream and encouraging sustainable practices. The integration must connect all components through a smart grid that enables two-way communication between the energy providers and consumers. This integration allows for real-time monitoring, control, and optimization of energy flows. The traditional core business of CF Energy will also be integrated into this system, utilize the flexibility and high-energy density of natural gas to balance and support the renewable components of the system, especially during peak demands or intermittent renewable supply. The combined heat and power (CHP) design is already a part of the Haitang Bay project, with the aim to simultaneously generate electricity and thermal energy from natural gas. The electricity can support the grid or local energy needs, while the thermal energy is used directly for hotel heating or to augment the centralized cooling system via absorption chillers. Using natural gas turbines or engines to provide additional power generation capacity, especially during periods when renewable energy sources are insufficient. This can ensure continuous operation of critical infrastructure without interruption. By integrating these elements, CF Energy works to establish the model of a distributed energy system that can effectively operate as a centralized cooling and heating provider for end consumers, a battery swap station network, and a virtual power plant, all while engaging end users to participate actively in energy management. This not only enhances energy efficiency and sustainability but also creates a cooperative ecosystem that benefits all participants economically and environmentally. About CF Energy Corp. (Previously known as: Changfeng Energy Inc.) CF Energy Corp. is a Canadian public company currently traded on the Toronto Venture Exchange ('TSX-V') under the stock symbol 'CFY'. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. CONTACT INFORMATION Yongqiang (Shawn) Shan Chief Financial Officer Charles Wang Secretary of the Board Frederick Wong Director of the Board Forward-Looking Statements Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, 'Forward-Looking Statements'). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future (including, without limitation, no significant adjustments to the gas selling price and charges for related services imposed by the relevant PRC government, the tourism industry continues to recover from COVID-19 impact and no delay in the development of the electric vehicle battery swap stations, the Haitang Bay Integrated Smart Energy Project or the Meishan Project). These Forward-Looking Statements can be identified by the use of forward-looking words such as 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe' or 'continue' or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon. Although management believes that the expectations represented in such Forward-Looking Statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and continuing adverse changes in general economic conditions or conditions in the financial, tourism, and gas distribution and electric vehicle markets or delays in the development of key projects. Readers are cautioned that all Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with applicable Canadian securities regulatory authorities, copies of which are available at The Company urges readers to carefully consider those factors. The Forward-Looking Statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. This news release contains future oriented financial information and financial outlook information (collectively, "FOFI") (including, without limitation, statements regarding expected average production), and are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraph. The FOFI has been prepared by management to provide an outlook of the Company's activities and results, and such information may not be appropriate for other purposes. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's reasonable estimates and judgments, however, actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein. Any FOFI speaks only as of the date on which it is made, and the Company disclaims any intent or obligation to update any FOFI, whether as a result of new information, future events or results or otherwise, unless required by applicable laws. Non-GAAP Financial Measures This news release contains financial terms that are non-GAAP financial measures, such as EBITDA, Adjusted EBITDA and Adjusted Net Profit. These financial measures, together with measures prepared in accordance with IFRS Accounting Standards, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. The Company's determination of these non-GAAP measures may differ from other reporting issuers, and therefore are unlikely to be comparable to similar measures presented by other companies. Further, these non-GAAP measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS Accounting Standards. These financial measures are included because management uses this information to analyze operating performance and liquidity. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Hindu
3 days ago
- Politics
- The Hindu
Approve pending promotions: transport staff union to A.P. govt.
A.P. Public Transport Department (APPTD) Employees' Union state committee leaders on Wednesday (May 28) urged the government to approve the promotion of RTC employees, which, they said, has been pending for the past six years. The union's State president P. Damodar Rao and general secretary G.V. Narsayya, along with Andhra Pradesh JAC-Amaravati chairman Bopparaju Venkateswarlu, submitted a representation in this regard to Principal Secretary to the Chief Minister Muddada Ravichandra. They said nearly 3,000 RTC employees have been awaiting promotions for over six years. Citing nearly 11,000 vacancies in the department, they said the government should permit APSRTC to recruit staff and purchase new buses to improve the public transport infrastructure. Their other demands included payment of arrears for 24 months under the 11th Pay Revision Commission (PRC) and clearance of the pending gratuity and leave encashment of retired employees. They also wanted the government to operationalise the Retired Employees Medical Scheme (REMS) and requested NTR Trust CEO to formalise its procedures and guidelines. Seeking alternative employment to staff declared medically unfit, they wanted the officials to initiate the pending appointments on compassionate grounds without further delay. They also sought job security for the outsourced workers in the department. Insisting on immediate implementation of the 12th PRC, they demanded that the authorities announce an interim relief immediately.
The Star
3 days ago
- Politics
- The Star
Concerns raised over R1. 8 million payment for incomplete stadium project in Durban
Zainul Dawood | Published 1 day ago The management of the eThekwini municipality came under scrutiny for an allocation of R1.8 million for the rehabilitation of the Rotary Stadium in KwaMashu despite non-performance issues by the service provider. Councillors approved the urgent reprioritisation of a budget to cater for the stadium rehabilitation. According to the municipality, the R1.8 million is sourced from various projects including R585,000 from a library project. In a report before eThekwini council on Monday, the Parks Recreation and Culture (PRC) Unit stated that the mandate is to build new and to rehabilitate existing facilities. In 2024 and 2025, the PRC unit was allocated R185 million for capital projects to build new facilities and develop the existing facilities within the city. There were no figures provided on how much was already spent on the stadium. The municipality stated that the cancellation was due to circumstances beyond their control and that the project was halted due to non-performance issues by the service provider. The municipality stated that the final account for closing this project has been concluded and the invoice has been received for the payment. The municipality stated that the project line item currently has a budget shortfall, and the unit has identified savings within the unit's capital budget to be reprioritised for the payment of the final account for the project. Following an in-depth consideration of the item, the DA and Truly Alliance (TA) expressed reservations regarding the approval of this item and proposed that an oversight visit be conducted prior to the approval, as they were of the view that they needed to have all information regarding the work done and the work still outstanding. This submission therefore seeks authority to pay for part of work already undertaken under this project, with attention drawn to the urgency of the matter in view of threats being levelled against the municipal officials as a result of non-payment. Daniel Mea, DA Councillor, said the project had come before council again, this time not for progress, but for payment to a contractor who failed to complete the job. Mea said the DA will not endorse rewarding failure and because the facts placed before the council remain deeply concerning and unresolved. 'We were told that the contractor ran out of money and could not complete the contract. This raises critical red flags. Was there a proper project cash flow monitoring and did this not have a fixed scope or fixed budget contract? How did the contractor reach a point where the budget was exhausted but the work remained incomplete? And perhaps most alarmingly despite this failure the municipality now proposes to pay him more," Mea said. Mea said this sets a dangerous precedent and 'one cannot and must not create a culture where underperformance is rewarded and failure is f ollowed by financial rescue'. 'To date, council has not been provided with a comprehensive audit of the actual work delivered, nor the timeline of expenditure. If the council continues to rubber stamp such proposals then it is complicit in the erosion of accountability. Oversight committees must not be passive observers,' Mea said. Councillor Musa Khubeka, of ActionSA, expressed serious reservations, stating that one could not approve millions of rands when the report showed that other parties' views, concerns and suggestions of doing oversight were not addressed during a committee meeting. 'We demand transparency and accountability is very important, oversight must be done,' Khubeka said. [email protected]
AsiaOne
4 days ago
- Business
- AsiaOne
'We are just the middlemen': How property agents grapple with landlords' discriminatory preferences, Singapore News
Over the past four years, Yue Kaixin regularly advises landlords on how to maximise their rental income. But the last thing the property agent from ERA Singapore would do is go against their choice of tenants — even when some insist, "No Indians". "I still had to obey them," Yue said. "I can't tell them what to do. If not, do you think I'll still have a business?" Yue is among several property agents in Singapore who told AsiaOne they are reluctant to confront landlords who refuse to rent to tenants from minority races. Other agents, on the other hand, have to grapple with landlords who show prejudice against members of the LGBTQ community. One property agent, who has worked in real estate for over a decade, recalled feeling awkward early in his career when landlords made it clear they did not want to rent to Indians. Some of these preferences stem from stereotypes that Indian tenants, both Singaporeans and expats, have a nonchalant attitude towards maintaining the property and they cook food with strong smells. The PropNex agent, who declined to be named, said that he feels conflicted at times — between doing his job and doing what is morally right — but has never pushed back against landlords with such requests. "Some might think it's racist, but there a thin line between racism and preferences," he said. "We are at the end of the day, just the middlemen. The neutral party. We neither condone nor accept such behaviours." It's not just about race But bias in the rental market extends beyond race, William Tan, a property agent from Singapore Realtors Inc, said. He recalled an incident last year when a landlord accepted an offer, before withdrawing the next day after finding out that the identity of the tenants. "They've already put in the deposit, but during the process of doing the paperwork, they had to present their passports," he said. "That was when the landlord started questioning on how come the tenants are two males… so that's when I told them they are actually gay parents with two biological kids." As a member of the lesbian, gay, bisexual, transgender and queer community, Tan said the incident conflicted with his values. 'We're not powerful enough to stop rental discrimination,' he said. 'All we can do is stay professional and follow guidelines from the Council for Estate Agencies (CEA).' 'Not outright discrimination' To Yue, landlords who refuse to rent to someone who is "Indian or PRC [People's Republic of China]" are not necessarily racist. He argued that some of them may have had prior negative experiences with tenants from these groups. But he urged landlords against dismissing potential tenants based on stereotypes, saying that it does not make business sense. The property agent recalled that when he and his wife first put their home up for rent, they initially preferred only Chinese or Western tenants. Then came an enquiry from an Indian family, which Yue said: "I discussed with my wife on whether we should ask them to come for house viewing or just say, 'sorry' and give an excuse [to reject them]. "But we thought it's better to give everyone a fair chance… it turns out they were really good tenants." Heikal Shafrudin, co-founder of real estate agency Herohomes, said that it is more nuanced for landlords renting out their rooms in their homes. For such instances, preferences around age and gender do show up since it is akin to "finding a housemate". "Sometimes, it is not outright discrimination, but more about lifestyle fit or perceived safety," Shafrudin said. [[nid:682399]] What does the law say? A 2022 survey of more than 2,000 Singapore residents by CNA and the Institute of Policy Studies (IPS) found that over 90 per cent said they would rent a property they own to a Singaporean Chinese. In contrast, only 62 per cent of those surveyed said they would accept Singaporean Malay tenants in a property they own, and Singaporean Indian tenant at 57 per cent. The rights of all Singaporeans are protected under law, with Article 12 of the Constitution saying: "There shall be no discrimination against citizens of Singapore on the ground only of religion, race, descent or place of birth in any law… or in the administration of any law relating to the acquisition, holding or disposition of property or the establishing or carrying on of any trade, business, profession, vocation or employment." The Ministry of National Development, however, maintained that rental decisions are ultimately private agreements between property owners and tenants. "Similar to how a tenant has the freedom to choose his accommodation, a landlord has the right to decide whom he would like to rent his property to," the ministry said, in response to a parliamentary question in 2022 about measures to prevent rental discrimination. "While we have a framework that protects the rights of all Singaporeans, we cannot rely on the law in every instance and will need to continue to deepen mutual understanding and empathy across different groups to build mutual trust, respect and understanding in our community." 'Landlords entitled to choose their tenants' Dr Mathew Mathews, IPS' principal research fellow and head of its Social Lab, said that while Singapore has robust laws to protect racial harmony, the lack of specific measures against rental discrimination stems largely from the complexity of proving such cases. He also drew parallels to workplace discrimination, which he said took many years and consistent advocacy before comprehensive legislation was introduced, despite longstanding concerns from minority groups. "In the context of property rentals, landlords are generally entitled to choose their tenants, and their decisions are often based on subjective assessments," Dr Matthews said. "This makes it difficult to clearly establish when a refusal is rooted in discrimination rather than other legitimate considerations." No discriminatory advertisements CEA's regulatory guidelines require agents to be sensitive to the multicultural nature of Singapore's society. They must also advise landlords against placing advertisements that are discriminatory, offensive or stereotyped in nature against any race, religion or group in society. Shafrudin empathised with his colleagues who feel pressured to carry out their landlords' discriminatory preferences. But what does he tell property agents who are facing such scenarios? "They have to understand why [the landlords have these preferences]," Shafrudin said. "Whether it is just personal bias against a specific group or a based on a bad experience or misunderstanding. "We will try to reframe the conversation [with landlords] back to the lease terms rather than identity… if they are concerned about cleanliness, then we can address these with specific clauses in the agreement. "If it crosses the line into blatant discrimination, then [property agents] have every right to walk away if they are not comfortable." Dr Matthews said that property agents should also be empowered and encouraged to educate landlords about Singapore's stance against rental discrimination, and remind them that such practices are not socially acceptable. [[nid:498986]] 'Diversity friendly' property listings, but are they really? Several property search platforms have also implemented various measures, which they said addresses rental discrimination and promote inclusivity. and PropertyGuru allow property agents to tag listings as 'Diversity Friendly' or 'Everyone Welcome' respectively — signaling that all renters are accepted regardless of race, religion, gender, or sexual orientation. In the release of its 2024 Sustainability Report published on May 21, PropertyGuru said that one in four rental listings - or around 10,000 of the 40,000 on the platform - are tagged as "Everyone Welcome". As of May 28, around 2,300 of its 35,000 listings in are "Diversity Friendly". Other popular property search platforms, such as and EdgeProp, do not have this feature. Property agent Tan remains sceptical about whether properties tagged as welcoming to all on search portals truly live up to that label, even if he sees it as a 'nice gesture'. "It does not necessarily reflect what the landlord wants," he said. "When an agent ticks that box, it may be just so that the listing will get more eyeballs." Checks by AsiaOne found that even for some of listings that are tagged as inclusive-friendly, they still include phrases indicating the kind of tenants who are "preferred". An 'Everyone welcome' listing, published on May 20, says the home is 'suitable' for singles and families, but "no Indian". Responding to AsiaOne's queries, PropertyGuru said that its platform prohibits indicating preferences such as race, religion, ethnicity, gender, age, sexual orientation, or any physical or mental disability in its listings. Cecile Corda, head of sustainability at PropertyGuru Group, said that all its listings with the Everyone Welcome tag are reviewed for discriminatory language prior to posting. "The tag is suspended if the listing has been reported for discrimination. PropertyGuru reviews all cases, and our moderation team contacts the agent to work with him or her to amend the listing," she added. Users can also 'report' the listing on our platform for discriminatory behaviours at any stage of the property search process. Unconscious bias training for agents Property agents are also offered unconscious bias training and guidance on avoiding discriminatory behaviour, according to Corda. "Through continued education and open dialogue, we are working towards an ideal world where the Everyone Welcome feature will no longer be needed. It is a journey, and everyone has an important role to play," Corda said. Like PropertyGuru, a spokesperson for said that it has mechanisms, such as manual curation and keywords monitoring, to moderate listings that contain discriminatory language. "We do not track [the prevalence of discriminatory listings over time]," but based on observations, it has decreased." Tan believes that perceptions of tenants from minority groups in Singapore are gradually improving. Still, the question of who makes a 'good' tenant remains a topic people tend to avoid "making a big fuss about". "They will say, 'Oh, we don't discriminate. We tolerate," he said. [[nid:530162]] chingshijie@
