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GOELIA continues its international expansion with the opening of nine new stores during Golden Week


SINGAPORE – Media OutReach Newswire – 15 October 2024 – During China’s 2024 National Day Golden Week, celebrated fashion brand GOELIA opened nine new stores in China and overseas focusing this time on Singapore, where three flagship stores were launched consecutively at Jewel Changi Airport and Orchard Road. In contrast to the general trend of closing physical stores mainly due to the economic downturn, GOELIA, strong of its financial performance, has bucked the trend strengthening its international presence. Already, these new openings have proven a great success among the communities.

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GOELIA fully enters the global market through bold innovation and aggressive expansion

Being the first Chinese fashion brand to integrate global traveling as part of its culture in designing fashion, GOELIA’s recent international strategy marks a step further in putting the brand on the global map. The brand now boasts online customers from nearly 60 countries and a fan base across 188 countries and regions. Furthermore, GOELIA has established multiple flagship stores in landmark commercial districts in Australia, Singapore, and most recently in Spain.

As a global hub for international trade, Singapore features the world’s most significant transshipment port and an air transport network connecting Asia, Europe, Africa, and Oceania. It is also one of the most influential and multicultural consumer cities worldwide. GOELIA has identified Singapore as a pivotal step in its international expansion strategy. With the opening of three stores, the brand is expanding its investments in the Singapore market, strengthening its presence and laying the foundation for breaking into additional markets to solidify its presence at international level.

GOELIA’s confidence in its global expansion is based on having more than 30 years of history, rigorous quality control, and an excellent pricing strategy. In addition, GOELIA has implemented research and its effective localization strategy to accommodate different languages, cultures, tastes, and preferences.

By setting up operational branches in various countries, local teams work closely with the headquarter in China to ensure effective localized management. The brand tailors its product lines for each region based on market preferences and consumer profiles. Furthermore, the integration of offline flagship store services with a global free shipping strategy for orders exceeding a certain amount on the official global website provides consumers worldwide with a convenient, high-quality, and trustworthy shopping experience.

GOELIA gains international favor with a sustainable fashion philosophy

“Nature + Civilization = Fashion” embodies GOELIA’s fashion perspective. The brand carefully selects natural materials for its clothing, with core products featuring fabrics such as mulberry silk, triacetate, traditional Xiangyun silk, 95% white goose down, and cashmere. Accessories also emphasize natural materials, like Tahitian shell buttons and palm nut buttons, aiming to provide consumers with higher-quality products at competitive prices.

GOELIA’s global stores are designed around the concept of natural ecology and wildlife conservation. In Singapore, each of the three stores presents a unique environment reflecting Goelia attention to nature and sustainability. The interiors are designed to reflect the changing seasons and Goelia’s love for country.

From China to Asia, Australia, and Europe, the phrase “Keep moving forward!” is frequently shared by GOELIA’s founder. The brand’s next stop, the “Starred Store Journey,” is fashion capital Barcelona in Spain. The intention is to reach and inspire more global consumers marking the start of a new era for China’s fashion industry.
Hashtag: #GOELIA

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

Octopus Holdings Limited Receives Grand Award at the 2024 Hong Kong Management Association Quality Award


HONG KONG SAR – Media OutReach Newswire – 15 October 2024 – On October 14, the Octopus Group (“Octopus”) was honoured with the Grand Award at the 2024 Hong Kong Management Association (“HKMA”) Quality Award.

Ms Jeny Yeung, Chairperson of Octopus received the prestigious award together with Mr Tim Ying, Chief Executive Officer of Octopus from Prof Winfried Engelbrecht-Bresges GBS JP, Chairman of The Hong Kong Management Association and Dr Jacob Kam, Chairman of 2024 Quality Award Organizing Committee.
Ms Jeny Yeung, Chairperson of Octopus received the prestigious award together with Mr Tim Ying, Chief Executive Officer of Octopus from Prof Winfried Engelbrecht-Bresges GBS JP, Chairman of The Hong Kong Management Association and Dr Jacob Kam, Chairman of 2024 Quality Award Organizing Committee.

Jeny Yeung, Chairperson of Octopus: “At Octopus, we strive to pursue excellence and quality management, along with the company’s wholehearted devotion to serving our customers, bringing them best-in-class customer experience. I wish to take the opportunity to express our heartfelt gratitude to our customers as well as our government and business partners for their continued and unwavering support.”

Established in 1991, the HKMA Quality Award aims to promote quality management in Hong Kong by recognising organisations that exemplify exceptional standards through sustained commitment and well-established processes. The award evaluation criteria encompass seven key areas: leadership, strategy, customer focus, measurement and analysis, knowledge management, workforce engagement, operations, and results.

Upon a highly-detailed submission and thorough judging process, HKMA commended Octopus for embracing a clear definition of Vision, Mission and Core Values (VMV), with a robust communication and governance framework to effectively convey the corporate values and mission at all levels. Octopus was further recognised for making significant efforts in offering fair treatment to various customer groups, including the elderly, the disabled and students, facilitating ease in their usage of products and services. Providing access and support on both consumer and merchant fronts while enhancing the overall user experience showcased Octopus’ dedication to continuous improvement and a proactive approach to meeting the evolving needs of people from all – going beyond mere business and financial metrics.

Tim Ying, CEO of Octopus: “The foundation of excellence and quality is our people. Our colleagues are instrumental in delivering a fast, safe, and convenient payment experience that powers mobility and commerce across Hong Kong. As we transition from physical cards to mobile solutions, our mission remains clear: to make everyday life easier for everyone. This recognition from HKMA inspires us to continue pushing boundaries and enhancing our services for our customers. We also extend our congratulations to all participating companies in this year’s HKMA Quality Award.”

Hashtag: #Octopus

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

About Octopus Group

Octopus Cards Limited, a subsidiary of Octopus Holdings Limited provides innovative payment services and solutions to meet customers’ diverse payment needs. It operates Octopus Cards (Licence Number: SVF0001), one of the world’s leading and most extensively accepted contactless smartcard payment systems. Its aspiration is to bring diversity and inclusion in payment to customers in all facets of life.

Today, more than 24 million Octopus cards and products are in circulation; spanning businesses including public transport, parking, retail, self-help services, schools, and leisure facilities, and access control for residential and commercial buildings. There are almost 190,000 Octopus acceptance points in the market. Octopus’ application has been extended to online and mobile payment arenas with services including Octopus on iPhone and Apple Watch, Octopus on Samsung Pay, Octopus on Huawei Pay, Octopus App, Octopus Wallet, Octopus Mastercard® and UnionPay, bringing new payment experiences to customers.

Octopus exports its unique experience and technology overseas, offering consultancy services across the world. The mission of Octopus: Making everyday life easier. For more information about Octopus, please visit .

ONYX Hospitality Group shines at the 2024 Marketing Excellence Awards as Amari Bangkok triumphs in the Anniversary Marketing category

BANGKOK, THAILAND – Media OutReach Newswire – 15 October 2024 – ONYX Hospitality Group, a leading Hospitality management company of luxury hotels, resorts, serviced apartments, and residences in Southeast Asia, showcased its marketing prowess by securing a ‘Bronze’ award for Amari Bangkok in the ‘Anniversary Marketing’ category at the prestigious Marketing Excellence Awards 2024. This recognition reaffirms ONYX’s leading position in the region’s ever-evolving market, underscoring its commitment to delivering exceptional experiences to every guest.

ONYX Hospitality Group's executives (from left): Sukamal Mondal, Area General Manager, Bangkok; Natsuda Lapai, Director, Culinary Marketing; Niwat Vaitayamongkol, Senior Director of Brand and Marketing Communications.
ONYX Hospitality Group’s executives (from left): Sukamal Mondal, Area General Manager, Bangkok; Natsuda Lapai, Director, Culinary Marketing; Niwat Vaitayamongkol, Senior Director of Brand and Marketing Communications.

The Marketing Excellence Awards celebrate outstanding marketing plans across various industries, highlighting creativity, strategic thinking, and innovation. ONYX Hospitality Group’s success stems from a marketing plan developed and executed by its internal marketing team in collaboration with Amari Bangkok, one of ONYX Hospitality Group’s leading Hotel brands, to mark the Amari Bangkok’s 30th anniversary. This campaign resulted in a 23% increase in walk-in customers, a 63% boost in social media reach for the hotel and its restaurants, and a 5% growth in direct booking revenue during the campaign period.

This award marks a significant achievement for ONYX Hospitality Group and Amari Bangkok, showcasing their dedication to crafting high-quality marketing strategies adaptable to diverse contexts. It aligns with ONYX Hospitality Group’s strength in offering a ‘Tailored Approach to Hospitality,’ which differentiates the business and supports sustainable growth. The accolade also reflects ONYX Hospitality Group’s unwavering commitment to advancing its vision of becoming “The Best Medium-sized Hospitality Management Company in Southeast Asia.”

Hashtag: #onyx

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

HonKuwa, with Academician Yoshiki Sawa, Ushering in a New Era of Innovative Drug R & D.


TOKYO, JAPAN – Media OutReach Newswire – 15 October 2024 – HonKuwa Pharmaceutical Co., Ltd. officially announces a strategic partnership with Professor Yoshiki Sawa, a world-renowned expert in the field of regenerative medicine and an academician of the Engineering Academy of Japan. Professor Sawa has been appointed as the honorary chief research scientist of HonKuwa. At the signing ceremony held at InterContinental Osaka, both parties jointly embark on a new chapter in the exploration of innovative drugs.

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This cooperation is designed to combine Professor Sawa’s outstanding research in cell biology and regenerative medicine with HonKuwa’s cutting-edge product development capabilities, promoting innovative treatment solutions in the fields of joint and muscle injury repair. Professor Sawa stated, “I have been dedicated to regenerative science research and clinical practice. I look forward to closely integrating the latest technology in this field with HonKuwa’s products and exploring how to better apply scientific and technological achievements in clinical settings to help more patients improve their health. I have full confidence in HonKuwa’s team and expect to work together to transform scientific research results into practical health solutions.”

HonKuwa Pharmaceutical Co., Ltd. was established in 2011 and is focused on the production and trade of health foods, medical products, and medical devices. Adhering to the business philosophy of “quality first, reputation supreme,” it is committed to providing high-quality health products for global users. This cooperation marks an important step forward for HonKuwa in the field of global innovative drug research and development. Both sides will jointly contribute more groundbreaking scientific research results to the medical and health field.

Hashtag: #HonKuwa

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

About HonKuwa Pharmaceutical

Since its establishment, HonKuwa has been consistently dedicated to researching and producing health products with high quality standards, covering areas such as health foods, medical products, and medical devices. The company is committed to promoting the development of global health through continuous innovation and helping more people achieve a better quality of life.

A Taste Of The Future: The Go-To Spot At The Worldchefs Congress & Expo 2024

In one of the world’s biggest gatherings for culinary experts, the future makes its way to the present.


SINGAPORE – Media OutReach Newswire – 15 October 2024 – Professional food services brand Unilever Food Solutions (UFS) is bringing its eight (8) new culinary trends set to future-proof food businesses at the Worldchefs Congress & Expo 2024 on October 21 at Marina Bay Sands, Singapore.

A Taste Of The Future: The Go-To Spot At The Worldchefs Congress & Expo 2024

Giving a tasteful peek into how the future can play out for food businesses during its hour-long activation, UFS is bringing to life its 2024 edition of the Future Menus Top Global Trends report, which compiles robust global data and extensive chef inputs translated into practical, actionable solutions for foodservice operators of all sizes.

“In their pursuit of knowledge, technique enhancement and expansion, and menu innovation, the future is where chefs need to be,” says UFS Executive Chef (Singapore, Vietnam, and Cambodia) Eric Chua. “The Worldchefs Congress is a buffet of

opportunities just waiting to be savored. It’s crucial that we do not miss out on what matters most: The future of the food that we are serving to diners. There is so much more to learn about what worked in the past and what needs to be done now for a better tomorrow, and we invite chefs to partake in the flavors of tomorrow and chip in to the melting pot of infinite possibilities.

Presenting: The Culinary Infinity

The food service industry is constantly evolving and diners are constantly expecting more–failing to keep up means risking going down. This is why chefs need a partner that can open up their kitchens to infinite ways to stay ahead of the culinary curve.

“UFS champions for food innovations that are practical, sustainable, and robust,” added Vangie Hu, Regional Marketing Director of UFS Southeast Asia. “Embracing the ever-evolving nature of food without forgetting essential culinary principles, UFS has leveraged global data and insights from chefs to create a report highlighting the top eight trends shaping the next year of dining experiences worldwide.”

During the one-hour in-Congress activation mounted by UFS, attendees will experience the eight (8) global trends identified by experts worldwide through redefined culinary boundaries.

Among the tasteful discoveries that await are unlikely ingredient pairings that make for fresh new flavors, new ways for low waste, modernizing comfort food, and locally sourced ingredients and their sustainable sourcing practices.

Joining guests are Chef Eric Chua, Executive Chef for UFS Singapore, Vietnam, and Cambodia; Chef Gun Gun Handayana, Executive Chef for UFS Indonesia; Chef Kenneth Cacho, Executive Chef of UFS Philippines; and Chef Jiraroj “Pop” Navanukroh, Executive Chef of UFS Thailand.

The Trends That Await

Streamlining a chef’s journey to finding trends that work best for their own menus, the UFS Future Menus report identifies eight (8) actionable global trends:

Flavor Shock: No Rules Experience

Diners these days are seeking far more than the usual; they are after an experience that dazzles, surprises, and challenges every one of your senses. In an era where sensory overload is the norm, culinary creations must tear up the rulebook, crafting dishes that are experimental, that push boundaries and exceed expectations.

Local Abundance: Celebrating Local

Local abundance is all about celebrating our homeland. The freshness of local and seasonal produce elevates our dishes to new heights. More importantly, it is about strengthening the bond between our kitchens and our communities. By building these relationships, we’re not just sourcing ingredients; we are including the story of our region into each bite.

Low-Waste Menus: Maximizing Creativity

The trend helps chefs use ingredients and resources wisely, save money, and please diners who care about eating well. Chefs now have a cheat sheet to getting the most out of every ingredient, meeting expectations of young chefs and aware diners who want sustainable kitchens. A promising area to explore in a time of innovation and conscious living.

Modernized Comfort Food: Adventurous and Satisfying

With many diners seeking comfort in what they eat, the trend for the taste of home food is still going strong. But while consumers may be looking for the familiar, they also want something new. This trend isn’t just about updating old classics; it is about infusing dishes with culinary storytelling, heritage, and a touch of nostalgia.

Plant-Powered Protein: Veggie Protein Heroes

There is an increase in flexitarianism, where people who are not fully committed to a vegetarian/vegan diet substitute 1-2 meals weekly with plant-based dishes for the health benefits. This trend offers a huge opportunity for chefs to provide diners with diverse and inclusive menu choices while reducing their costs and environmental footprint.

The New Sharing: Dynamic and Interactive

Diners appreciate being able to eat together with fun, tasty food that can be shared in a relaxed setting. The table is used as a setting where food is not just a meal but it’s a driver of joy, laughter, and connection. The opportunity for chefs here is enormous, it is the innovation playground for experimentation, mashups and extravagant experiences that redefine sharing.

Irresistible Vegetables: Vegetable Democracy

Vegetables are growing in popularity and becoming the stars of chefs’ signature dishes to appeal to the new generation of diners. They are not only nutritious, but also colorful and tasty. But it requires more skill and creativity from chefs to bring out the best in plants. Let’s welcome the change and add more colors to our tables.

Feel-Good Food: Holistic Wellbeing

Consumers increasingly recognize that our health begins with the choices we make on our plates. And diners will demand dishes that are crafted with care. It is about serving less saturated fat, opting for leaner cuts, and lightening up on the sauces. Feel-good food is about finding that perfect balance where every dish makes you feel better and more energized.

Download and learn more about the Future Menus trend report by attending the Worldchef Congress on October 21st, at Marina Bay Sands, Singapore.
Hashtag: #UFS #UnileverFoodSolutions

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

New Building at Mahosot Hospital Opens, Marks Laos-China Cooperation Milestone

Mahosot construction (Photo credit: Media MBT)

A ceremony to inaugurate the new building at Mahosot Hospital took place on 12 October, attended by Prime Minister Sonexay Siphandone of Laos and Prime Minister Li Qiang of China, along with high-level delegations from both nations. This project was launched in November 2017 and represents a significant milestone in Laos-China cooperation as a part of the “One Belt, One Road” initiative. 

Chevron Singapore gives customers a smarter, more rewarding way to refuel with the launch of the refreshed CaltexGO mobile app

SINGAPORE – Media OutReach Newswire – 15 October 2024 – Chevron Singapore, which operates the retail brand Caltex, has announced the launch of the refreshed CaltexGO mobile app, designed to enhance customer convenience and engagement across all Caltex stations nationwide. This latest iteration of Singapore’s first mobile fuel payment app underscores Caltex’s commitment to innovation and delivering exceptional customer experiences.

The refreshed CaltexGO mobile app (Credit - Chevron Singapore)
The refreshed CaltexGO mobile app (Credit – Chevron Singapore)

With the first iteration of the CaltexGO mobile app launched in September 2018, the refreshed app features a redesigned user interface focused on enhancing intuitive navigation and seamless user interaction. Customers will enjoy improved usability, making it easier to explore Caltex’s extensive range of services and enjoy exciting offers and vouchers located within the app as they continue their refueling journey with us. To fully experience these enhanced capabilities and maximise the benefits of the new features, customers will have to download and install the refreshed CaltexGO mobile app.

“We are excited to introduce the refreshed CaltexGO mobile app, which stands as a testament to our unwavering commitment to continually enhance customer experience,” said Dean Gilbert, General Manager of International Products, Southeast Asia, Singapore. “With new features, such as vouchers, birthday month bonus and other exciting offers, we hope to streamline and elevate the way customers engage with our services, offering greater control and convenience during their visits to Caltex service stations. We are eager for our customers to embrace the new platform and enjoy the many benefits it offers.”

To celebrate the launch of the refreshed CaltexGO mobile app, Caltex will offer a welcome incentive of up to $10 with a minimum spend of $20[1] for users who install the new app and make their first transaction with partner credit cards in the app from now to 31 December 2024.

Customers will also have the opportunity to catch Ayden Sng, the Caltex brand ambassador, featured in an engaging Korean drama-inspired TV commercial, showcasing the user-friendly features and numerous benefits of the refreshed CaltexGO mobile app on Caltex social media channels.

The refreshed CaltexGO mobile app is now available for download on both Android and iOS platforms. Customers can access online guides that outline the steps to install the new one, facilitating a smooth transition process. For customers who prefer in-person assistance, service station attendants at Caltex stations islandwide are available to answer questions and guide them through the app transition.

For more information and to experience the new and improved CaltexGO mobile app firsthand, please visit the Caltex website or visit any Caltex Service Station near you.


[1] Payment via OCBC / Trust / HSBC / SCB / Trust / Citibank / GrabPay in the CaltexGO app gets $10, payment via other Visa / Mastercard cards get $5.

Hashtag: #chevron

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

About Caltex Singapore

Chevron Singapore Pte. Ltd. markets the 88-year-young Caltex brand, which is Chevron’s customer-facing brand in Asia Pacific and parts of the Middle East and Africa. The Caltex retail network in Singapore consists of 26 Caltex service stations and Star Mart branded convenience stores.

All Caltex service stations accept the CaltexGO mobile payment for fuel purchases. Products such as the Caltex with Techron® with Clean & Glide Technology™ petrol, Caltex Diesel with Techron® D and Havoline® motor oil are also available at all Caltex service stations. In partnership with NTUC Link, the Link Rewards Programme also enables motorists to earn 2 Linkpoints for every litre of fuel purchased at Caltex.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable, and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow lower carbon businesses in renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies. More information about Chevron is available at .

CTF Life Celebrates 40th Anniversary with Launch of MyWealth Savings Insurance Plan 2

Introduces first-in-market “Wealth Booster Option” to Create Value Beyond Insurance

HONG KONG SAR – Media OutReach Newswire – 14 October 2024 – Chow Tai Fook Life Insurance Company Limited (“CTF Life”) recently celebrated its towards 40th anniversary with a celebration dinner themed “Value Beyond Insurance” at the Hong Kong Convention and Exhibition Centre. To further promote the value of CTF Life in providing customers with personalised planning solutions, lifelong protection and diverse lifestyle experiences over the years, CTF Life also announced the launch of its MyWealth Savings Insurance Plan 2, which empowers customers with faster and higher projected returns, greater autonomy and greater flexibility in inheritance planning, helping customers embrace a fulfilling life.

CTF Life’s celebration dinner to mark its towards 40th anniversary is inaugurated by Brian Cheng, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life (third from right); Gilbert Ho, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life (second from left); and Man Kit Ip, Chief Executive Officer of CTF Life (centre), along with the management team of CTF Life.
CTF Life’s celebration dinner to mark its towards 40th anniversary is inaugurated by Brian Cheng, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life (third from right); Gilbert Ho, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life (second from left); and Man Kit Ip, Chief Executive Officer of CTF Life (centre), along with the management team of CTF Life.

The celebration dinner was inaugurated by Brian Cheng, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life; Gilbert Ho, Executive Director and Group Co-Chief Executive Officer of NWS Holdings and Non-executive Director of CTF Life; and Man Kit Ip, Chief Executive Officer of CTF Life, along with the company’s management team. The highlight of the event was a performance by singer-songwriters Phil Lam and Cath Wong, while renowned artist Kelly Chen appeared as a guest performer.

To further promote its brand awareness, CTF Life displayed its new company name on the rooftop LED billboard of COFCO Tower on Hong Kong Island and the large outdoor advertisement at the Royal Hong Kong Yacht Club in Causeway Bay. To celebrate its 40th anniversary, the company also advertised on billboards on five major commercial buildings, including Far East Finance Centre, Harcourt House, Sing Ho Finance Building, Chinachem Century Tower and V Point.

Man Kit Ip, Chief Executive Officer of CTF Life, said: “CTF Life is embarking on a new journey in 2024, proudly stepping into its 40th year. Over the years, we have overcome challenges and seized opportunities together with Hong Kong, achieving remarkable growth. Looking ahead, we will further strengthen our collaboration with the diverse conglomerate of the Chow Tai Fook Group, leveraging its robust financial strength and strategic investments across the globe to continue to expand our service network and optimise our products and services. Drawing on our roots in Hong Kong, we will extend our reach across China and other Asian markets, continually creating value beyond insurance for our target customers.”

MyWealth Savings Insurance Plan 2 for Flexible Wealth Management

To celebrate its 40th anniversary and meet the financial needs of customers at different stages of life, CTF Life has launched MyWealth Savings Insurance Plan 2 (MyWealth 2), building on the success of its MyWealth Savings Insurance Plan (MyWealth 1). The new plan features the first-in-market1 “Wealth Booster Option” 2, which allows customers to change the amount components under the policy to help enhance the projected returns. The plan’s special-in-market1 “Wealth Accumulation Switching Options” 3 give customers greater autonomy to cater their investment preferences at different life stages. MyWealth 2 features “Dual Succession”, which allows unlimited changes of Insured4 and entitles the policy owner to assign up to two beneficiaries for legacy planning, ensuring the continuation of the policy and maximising the efficacy of wealth inheritance.

Jarita Kwan, Chief Product Officer of CTF Life, said, “Based on the thoughtful features of MyWealth 1, CTF Life has launched MyWealth 2 to meet the financial needs of customers at different stages of life. Taking USD policy as an example, MyWealth 2 offers a shorter breakeven period, higher projected returns, and greater flexibility. It enhances withdrawal advantages, allowing customers to seize market opportunities in a timely manner, helping wealth accumulation and inheritance.”

The three main advantages of MyWealth 2


1. Shorter breakeven periods, higher projected returns and more flexible withdrawal arrangements
  • With a five-year premium payment period5, customers can achieve total breakeven and guaranteed breakeven on the 7th and 13th policy anniversaries, respectively. Furthermore, the total policy value is projected to exceed 200% of the total premiums paid by the end of the 17th policy anniversary. Moreover, MyWealth 2 offers potentially higher projected returns than MyWealth 1.
  • Building on the strengths of MyWealth 1, MyWealth 2 offers more flexible withdrawal arrangements to meet the needs of customers at various stages of life.
2. Greater autonomy

  • First-in-market1 “Wealth Booster Option” 2: On the 10th policy anniversary or any policy anniversary thereafter, customers can apply once to exercise the first-in-market1 “Wealth Booster Option”2 . This allows customers to change the amount components# under the policy according to the long-term target asset allocation under this option in order to enhance the projected return of their policy.
  • Wealth Accumulation Switching Option 3: The 3 special-in-market1 Switching Options, including “Advance”, “Balanced” and “Conservative”, allow customers the flexibility to choose the value ratio of their “Stable Asset Account” 6 from three preset Switching Options, starting from the 10th policy anniversary, fulfilling their financial needs at different stages of life. MyWealth 2 allows customers to apply for this option five years earlier than with MyWealth 1.
  • Free conversion of the policy currency: On the 3rd policy anniversary and any policy anniversary thereafter, customers can apply to exercise the “Currency Switching Option”, changing the policy currency of the basic plan to a different currency (US dollar, Hong Kong dollar, Chinese yuan, British pound sterling, Euro, Singapore dollar, Australian dollar or Canadian dollar), accommodating their global wealth management goals.
  • Policy Split Option 7: After the end of the 5th policy year or the end of the premium payment period (whichever is later), customers can split the existing policy into two by allocating a portion of the Units of the basic plan under the existing policy to a sperate “Split Policy”. The process involves splitting a policy into two, then two becomes four, and so on, allowing customers to maximise the power of asset allocation.
  • Premium Holiday8 of up to four years: Customers can apply for a Premium Holiday of up to four years, on or after the 2nd policy anniversary. The premium payment of their next policy anniversary will be suspended, and customers do not need to worry about the immediate termination of their policy and the loss of protection.

3. Greater flexibility on inheritance
  • Dual Succession: After the 6th policy monthly anniversary, customers may change the Insured for unlimited times4. The coverage period will be adjusted to age 128 of the new Insured (“Changed New Insured”), allowing sufficient time for wealth accumulation of the policy. In addition, MyWealth 2 provides a “Policy Continuation Option9, enabling the Policy Owner to assign up to two beneficiaries and specify the proportion of the Death Proceeds to be paid for each beneficiary. Upon the death of the Insured, the designated beneficiaries will become the new Insured(s), offering flexibility on inheritance.
  • Customised Death Benefit Settlement Option: The Policy Owner can designate a specified year or a specified age of the beneficiary to start paying the death benefit. This flexible payment allows each beneficiary to have the most appropriate arrangement, leaving a lasting legacy of love.
  • Premium Waiver10: Accidents or diseases are unforeseeable. MyWealth 2 offers “Waiver of Premium Benefit” and “Payor Benefit” to ensure that the accumulated wealth remains unaffected and to safeguard the financial future of the customer’s children.

To help customers realise their financial plans more easily, they can enjoy a First-Year Premium Refund11 of up to 26% when they successfully apply for MyWealth 2. If all premiums payable are settled through a lump sum prepayment, the remaining balance from the prepayment will enjoy a guaranteed interest rate of up to 5% p.a. throughout the whole premium payment period12. This allows customers to start their financial plans at a lower cost.

#The amount components refer to Guaranteed Cash Value, face value and cash value of accumulated Reversionary Bonuses and Terminal Bonus (if any) and accumulated value of Stable Asset Account (if any) of the basic plan.

Remarks:

1. “Special-in-market” and “First-in-market” are the results of comparing similar major life insurance savings products of major life insurance companies in Hong Kong as of 26 September 2024.
2. Within 30 days before or after the 10th policy anniversary or every policy anniversary thereafter, customer may, subject to the prevailing rules of the Company, exercise the Wealth Booster Option to adjust the Guaranteed Cash Value, face value and cash value of accumulated Reversionary Bonuses (if any), face value and cash value of Terminal Bonus (if any), and the accumulated value of Stable Asset Account (if any) of the basic plan to other pre-set level(s) (to be determined by the Company and elaborated in an endorsement and new policy specifications) according to the new long-term target asset allocation, without providing any evidence of insurability while subject to the following conditions: (i) all premiums due and payable under the policy must be settled and any Indebtedness must be fully repaid; (ii) no Premium Holiday is in effect, no application for exercising Policy Split Option, Currency Switch Option, Wealth Accumulation Switching Option or Change of Insured Option is in progress, and no claim is in progress under the basic plan of the policy upon request exercising this Option; (iii) the request cannot be changed or withdrawn once it is submitted; and (iv) this Option can only be exercised once under the policy. After the Wealth Booster Option becomes effective, (i) the Guaranteed Cash Value, face value and cash value of Reversionary Bonus (if any), face value and cash value of Terminal Bonus (if any) and accumulated value of Stable Asset Account (if any) of the basic plan of the policy will be adjusted at the sole discretion of the Company while the Unit will remain unchanged. The future amounts of Guaranteed Cash Value, face value and cash value of Reversionary Bonus (if any), face value and cash value of Terminal Bonus (if any) will also be determined accordingly; (ii) the Wealth Accumulation Switching Option will be reset as “Advance” (i.e. the allocation and value in Stable Asset Account are both zero); (iii) all Complementary Policies (if any) and riders (if any) under the policy will remain in force after the change, subject to the then prevailing rules of the Company; (iv) the beneficiary(ies), policy owner, contingent policy owner (if designated), Initial Insured, Insured, policy currency, Policy Date, policy effective date and Policy Years of the basic plan of the policy will remain unchanged; and (v) previous instruction(s) made under the basic plan of the policy including but not limited to Death Benefit Settlement Option and Policy Continuation Option will remain unchanged unless otherwise specified. In the event that both Wealth Booster Option and Wealth Accumulation Switching Option are elected on the same policy anniversary, the Wealth Booster Option will be exercised while the elected Wealth Accumulation Switching Option will be automatically withdrawn immediately. Policy owner may elect the Wealth Accumulation Switching Option again in the next policy anniversary. As the equity-like assets in the new long-term target asset allocation are relatively higher, the Guaranteed Cash Value may be subject to reduction and the risk may increase accordingly after the Wealth Booster Option has been exercised. If customer has any questions, customer can contact financial consultant for more details or seek independent professional advice. Please refer to the Policy Provisions for more details of the Wealth Booster Option.
3. Wealth Accumulation Switching Options and its portfolio ratio
Switching option(s) “Stable Asset Account” allocation Allocation of the cash value of Reversionary Bonus (if any) and cash value of Terminal Bonus (if any)
Advance 0% 100%
Balanced 40% 60%
Conservative 80% 20%
“Stable Asset Account Allocation” = the value of “Stable Asset Account” ÷ (cash value of Reversionary Bonus (if any) + cash value of Terminal Bonus (if any) + value of Stable Asset Account) x 100%
Within 30 days before or after the 10th policy anniversary or every policy anniversary thereafter, customer may, subject to the prevailing rules of the Company, exercise the Wealth Accumulation Switching Option to adjust the Switching Option of the basic plan of the policy to achieve Stable Asset Account Allocation at desire of customer, subject to the following conditions: (i) the Switching Option applied for must be different from the default Switching Option of the Basic Plan of the policy (for the first exercise of this option) or the latest Switching Option as shown in our record (if customer has already exercised this option before); (ii) except the first time of exercise of this option, the switch date of each subsequent request must be separated by a period of not less than 1 year from the switch date of the preceding exercise of this option; and (iii) all indebtedness must be fully settled before exercising this option. Once the Wealth Accumulation Switching Option is exercised, we will correspondingly adjust the amount of any future cash values and face values of Reversionary Bonus and Terminal Bonus at a rate to be determined by us based on the change(s) of the cash values of Reversionary Bonus and Terminal Bonus. Once the Company approves the request of Wealth Accumulation Switching Option, we will determine the value of Stable Asset Account immediately following such exercise of Wealth Accumulation Switching Option (“Target Value”). The Target Value equals the product of Stable Asset Account Allocation of the elected Switching Option and the aggregate of (i) the accumulated value of Stable Asset Account (if any) immediately before such exercise (“Existing Value”); and (ii) the cash values of Reversionary Bonus and Terminal Bonus immediately before such exercise. We will then adjust the balance of Stable Asset Account from the Existing Value to the Target Value at the switch date, which in the case that the Existing Value is lower than the Target Value, the deficit will be resolved by transferring the latest cash value of Reversionary Bonus (if any) and cash value of Terminal Bonus (if any) to the Stable Asset Account; or in the case that the Existing Value is higher than the Target Value, the surplus from the Stable Asset Account will become the cash value of Reversionary Bonus and cash value of Terminal Bonus. In the event that both Wealth Booster Option and Wealth Accumulation Switching Option are elected on the same policy anniversary, the Wealth Booster Option will be exercised while the elected Wealth Accumulation Switching Option will be automatically withdrawn immediately. Policy Owner may elect the Wealth Accumulation Switching Option again in the next policy anniversary. Please refer to the Policy Provisions for more details of the Wealth Accumulation Switching Option.
4. Changing the Insured is subject to the prevailing administrative rules and designated requirements. The Unit, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any) and the face value of Terminal Bonus (if any), any accumulated value of Stable Asset Account, Policy Date and Policy Years will remain the same on the Insured-Change Effective Date while the Plan End Date will be adjusted to the date of policy anniversary on the 128th birthday of the Changed New Insured or following the 128th birthday of the Changed New Insured (whichever is applicable). The Changed New Insured must be aged 64 (last birthday) or below. The change of Insured must be endorsed by the Policy Owner, proposed new Insured and Assignee (if any). Both the new Insured and the current Insured must be alive and the policy is in force at the time the Insured is changed and provided with satisfactory proof of evidence of insurability for the proposed new Insured. We shall cease to provide any coverage for the initial Insured or the prior Insured on our record (when applicable and as the case may be) as from the Insured-Change Effective Date. All riders (if any) will be terminated on the Insured-Change Effective Date. Please refer to the Policy Provisions for details of Changing of Insured Option.
5. This is an example of a policy denominated in USD with a 5-year premium payment period. The annual premium payment is US$100,000, resulting in a total premiums paid of US$500,000, without exercising any policy options.
6. Account determined in accordance with the Wealth Accumulation Switching Option provision in which its long-term target asset allocation is 100% in fixed income type securities. The value in the Stable Asset Account will be accumulated at such interest rate as may be declared by us from time to time. Interest rates on the Stable Asset Account are not guaranteed and may even be 0% in any year.
7. While the policy is in force and the Insured is still alive, after the end of the 5th Policy Year (Applicable to MyWealth Savings Insurance Plan 2 (Premier))/while the policy is in force and the Insured is still alive, after the end of the 5th Policy Year or the end of the premium payment period (whichever is later) (Applicable to MyWealth Savings Insurance Plan 2 (Prestige)), and subject to the prevailing rules of the Company, customer may exercise Policy Split Option to create a separate policy (the “Split Policy”), allocating a portion of Unit from the basic plan of the policy to the Split Policy but subject to the following conditions without providing any evidence of insurability: (i) after the policy Split Option has been exercised (the “Split”), the respective Unit of the basic plan of the policy and Split Policy must not be less than the minimum Unit amount we permit at the time of the request of customer; (ii) the insured of the Split Policy must be the same as the Insured of the basic plan of the policy; (iii) no claim is in progress under the basic plan of the policy upon request exercising this option; (iv) customer’s request for the policy Split Option cannot be changed or withdrawn once it is submitted; (v) any indebtedness under the basic plan of the policy must be fully repaid before we approve customer’s request ; and (vi) Policy Split Option can only be exercised once during a Policy Year. After the Split is approved, (i) the provisions of the Split Policy will be the same as the basic plan of the policy unless otherwise specified; (ii) the Unit, face value and cash value of Reversionary Bonus and Terminal Bonus (if any), accumulated value of Stable Asset Account (if any) will be reduced and transferred to the Split Policy according to the ratio of the Unit allocated to the basic plan of the policy and the Split Policy. We will determine the existing and future amounts of Guaranteed Cash Value, the face value and cash value of Reversionary Bonus and Terminal Bonus (if any); and future premium respectively for both the basic plan of the policy and the Split Policy according to customer’s allocation of the Units; (iii) the total premiums paid for both the basic plan of the policy and the Split Policy will be adjusted according to customer’s allocation of Units and will be used to calculate death benefit; (iv) subject to the rules of the Company, all riders (if any) under the policy will continue to be effective after the Split; (v) the beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this Policy will remain unchanged and the Split Policy will have the same beneficiary(ies), Policy Owner, Contingent Policy Owner (if designated), Initial Insured, Insured, Policy Currency, Policy Date, Policy Effective Date and Policy Years of the basic plan of this Policy; and (vi) previous instruction(s) made under the basic plan of the policy including but not limited to Wealth Accumulation Switching Option, Wealth Booster Option, Death Benefit Settlement Option and Policy Continuation Option will also apply to the Split Policy unless otherwise specified. The Split Policy will be effective only after its policy provisions and policy specifications are issued. Please refers to the Policy Provisions for more details of Policy Split Option.
8. Premium Holiday is not applicable to the policy with a 2-year premium payment period. The length of a Premium Holiday for each application should be a multiple of 1 year until it reaches the maximum limit. Premium Holiday is only applicable to the basic plan and will be effective on the next policy anniversary, but all riders attached to the policy will be terminated at the same time. We will defer the premium end date and premium due date according to the Premium Holiday Period approved. Riders attached to the policy can be re-attached after Premium Holiday, however, the premium and approval should be subject to rider application at that time. During the Premium Holiday, customer does not need to pay premiums for the basic plan, the Units, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), accumulated value of Stable Asset Account and protection under the basic plan will remain unchanged during the period, provided that customer has not partially surrendered during the Premium Holiday. The cash value of Reversionary Bonus and Terminal Bonus (if any) are non-guaranteed. During the Premium Holiday, we will not declare any face value of non-guaranteed Reversionary Bonus. Please refer to the Policy Provisions for details of Premium Holiday.
9. Prior to the death of the Insured, the Policy Owner can assign one or two beneficiary(ies) for the Policy Continuation Option and specify the proportion of the Death Proceeds to be paid to each beneficiary for the Policy Continuation Option. Upon the death of the Insured, if the Policy Owner (still alive) and the Insured are different persons, the beneficiary will become the Continued New Insured; if the Policy Owner died at the same time or the Policy Owner and the Insured is the same person, subject to the prevailing administrative rules of the Company, the beneficiary will become the new Policy Owner and Continued New Insured of the policy in order to keep the policy in force after the Insured dies. If Policy Continuation Option has been exercised, and (i) only one beneficiary is designated under the policy and such beneficiary has been elected for the Policy Continuation Option prior to the death of the Insured, after this option has been exercised, all Units, Total Premiums Paid, Guaranteed Cash Value, the face value of accumulated Reversionary Bonuses (if any), the face value of Terminal Bonus (if any) and any accumulated value of Stable Asset Account (if any), Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective plan end date of the basic plan of the policy will be adjusted to the date of policy anniversary on the 128th birthday of the Continued New Insured or the immediately following policy anniversary (whenever is applicable); (ii) if there is more than one beneficiary designated under the policy and one or two beneficiary(ies) has/have been elected for the Policy Continuation Option prior to the death of the Insured, one or two basic plan(s) of the policy will be created upon the death of the Insured, and regarding each newly created basic plan, the respective unit, Total Premiums Paid, Guaranteed Cash Value, the respective face value of accumulated Reversionary Bonuses (if any) and the respective face value of Terminal Bonus (if any) and any respective accumulated values of the Stable Asset Account will be adjusted according to the proportion of the Death Proceeds specified by the Policy Owner for each beneficiary selected for the Policy Continuation Option. The respective Policy Date and Policy Years will remain unchanged on the Policy Continuation Effective Date, while the respective plan end date of the basic plan of the policy will be adjusted to the date of policy anniversary on the 128th birthday of the Continued New Insured or the immediately following policy anniversary (whenever is applicable). The surrender payment may be equal to or lower than death benefit before this option has been exercised. If the Death Benefit Settlement Option has already been selected for the beneficiary who has also been elected for the Policy Continuation Option, customer shall cancel the Death Benefit Settlement Option arrangement for such beneficiary before submission of any written request for the Policy Continuation Option. All riders (if any) will be terminated on the Policy Continuation Effective Date. For the beneficiary(ies) who has/have not been elected for the Policy Continuation Option (if any), the Death Benefit will be paid to each of these beneficiary(ies) in a lump sum or the respective option under the Death Benefit Settlement Option provision elected by the Policy Owner. If the Policy Owner has selected both Policy Continuation Option and Death Benefit Settlement Option, Policy Continuation Option will automatically be exercised (regardless of the order of selection). After Policy Continuation Option has been exercised, the Policy Continuation Option and Death Benefit Settlement Option previously selected by the Policy Owner will automatically become invalid Please refer to the Policy Provisions for details of Policy Continuation Option.
10. There are 2 types of premium waivers: (i) “Waiver of Premium Benefit” is applicable to the Insured whose age at policy issuance or the change of Insured is between 18 and 60 and is the Policy Owner at the same time, and is diagnosed with total permanent disability before the age of 75. (ii) “Payor Benefit” is applicable to the latest Insured whose age at policy issuance or the change of the Insured is at the age 17 or below; the latest Policy Owner (including contingent Policy Owner) whose age at policy issuance or the change of the Policy Owner (including Contingent Policy Owner) is at the age of 60 or below, and dies or is diagnosed with total permanent disability before the age of 75. After the waived premium of the basic plan reaches the maximum total amount of premium waived (per Insured) and/ or on the waiver of premium end date (until the premium end date that is set at the time of policy issuance), the Policy Owner should pay the remaining premium; otherwise, the automatic premium loan will be applied, or the policy will be terminated. In addition to the premiums stated above, if premiums falling due in the relevant Waiver of Premium Benefit Period are paid before we approve a claim of this benefit, such premiums will be fully refunded (with no interest). If the incident is resulted from accident, immediate protection will be given. If a person dies or is diagnosed with total permanent disability due to illness, a 2-year waiting period is required. Please refer to the Policy Provisions for details of “Waiver of Premium Benefit” and “Payor Benefit”.
11. Subject to terms and conditions, for details, please refer to
MyWealth Savings Insurance Plan 2 (Prestige) First-Year Premium Refund:
MyWealth Savings Insurance Plan 2 (Premier) First-Year Premium Refund:
12. Subject to terms and conditions, for details, please refer to

Important notice:

  • The information contained in this press release is intended as a general summary of information for reference only. MyWealth Savings Insurance Plan 2 features Prestige Version and Premier Version. For more details, please refer to the product brochures, promotion leaflets, and policy documents. For details regarding the CTF Life MyWealth Savings Insurance Plan 2, the terms and conditions of the policy contract shall prevail.
  • This press release does not contain the full provisions of MyWealth Savings Insurance Plan 2, and the full terms can be found in the Policy documents. MyWealth Savings Insurance Plan 2 may serve as standalone plan(s) without bundling with other type(s) of insurance product. Please refer to the main product brochure and policy terms and conditions, as well as the explanatory documents provided by your licensed insurance intermediary, to fully understand the details and complete terms and conditions regarding the mentioned definitions, fees, product features, exclusions, and compensation payment conditions related to the MyWealth Savings Insurance Plan 2.
  • Please refer to the product brochure for more information on MyWealth Savings Insurance Plan 2 (Prestige): https://www.ctflife.com.hk/pdf/en/mywealth-savings-2-prestige-insurance-plan-brochure.pdf
  • Please refer to the product brochure for more information on MyWealth Savings Insurance Plan 2 (Premier): https://www.ctflife.com.hk/pdf/en/mywealth-savings-2-premier-insurance-plan-brochure.pdf
  • For further details, please contact CTF Life’s Customer Service Hotline on +852 2866 8898.
  • This press release is intended to be distributed in Hong Kong only and shall not be construed as an offer to sell or a solicitation to buy or provision of any of our products outside Hong Kong. Chow Tai Fook Life Insurance Company Limited hereby declares that it has no intention to offer to sell, to solicit to buy or to provide any of its products in any jurisdiction other than Hong Kong in which such offer to sell or solicitation to buy or provision of any product of Chow Tai Fook Life Insurance Company Limited is illegal under the laws of that jurisdiction.

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

About CTF Life

Chow Tai Fook Life Insurance Company Limited (“CTF Life”) is proud of its rich, nearly 40-year legacy in Hong Kong. CTF Life is a wholly-owned subsidiary of NWS Holdings Limited (Hong Kong Stock Code: 659) and one of the most well-established life insurance companies in Hong Kong. As a member of Chow Tai Fook Enterprises Limited, CTF Life consistently strengthens its collaboration with the diverse conglomerate of the Cheng family (“Chow Tai Fook Group” or “the Group”) to support customers and their loved ones in navigating life’s journey with personalised planning solutions, lifelong protection and diverse lifestyle experiences. By leveraging the Group’s robust financial strength and strategic investments across the globe, CTF Life aspires to become a leading insurance company in the Greater Bay Area while continuously creating value beyond insurance.