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Transamerica Life Bermuda Releases Updated Guide To High Net Worth Life Insurance

The updated practical handbook supports financial advisors in understanding the unique features of HNW life insurance and how it can help protect their customers’ wealth

HONG KONG SAR – Media OutReach – 19 August 2022 – Transamerica Life (Bermuda) Ltd. (TLB), a leading High Net Worth (HNW) life insurer, in partnership with Hubbis (HK) Limited (“Hubbis”), announced the release of the updated “Guide to HNW Life Insurance – a Practical Handbook for Financial Advisors 2022” (“Guide”). Sponsored by TLB as part of its Mastering High Net Worth (MHNW) programme, and prepared by Hubbis, this is the third year that TLB has collaborated with Hubbis to bring this important resource to financial advisors, brokers and wealth managers.

Since the last edition of the Guide in 2021, the world and global economy has undergone dramatic changes. Although the anxiety around COVID waned in 2021 across the world, the new COVID variants that continue to emerge, the impact of the war in Ukraine, along with the rise in oil, gas, food prices and supply-side challenges from pandemic lockdowns, has impacted economic activity resulting in increased economic volatility and geopolitical risks. In addition, inflation is running at levels not seen since the early 1980s. In response, central banks around the world are now embarking on a course of rapid tightening in monetary policy. In a remarkably short space of time, we see a flip from low interest rates and high asset markets to higher interest rates and lower asset markets.

Despite the health and market uncertainty, however, the HNW and Ultra High Net Worth (UHNW) population remained resilient. According to a recent Capgemini study, in 2021 the global HNW population and their global wealth grew by 7.8% and 8% respectively. North America led the way in growth, with the European and Asia-Pacific regions following in second and third place respectively.

“While TLB sees a more mixed and challenging economic situation unfolding this year, we remain very positive about the prospects for HNW life insurance growth in 2022 and beyond. With an ever-changing and unpredictable environment comes the desire for more certainty – and life insurance continues to be a perfect vehicle to provide that certainty,” said Chirag Rathod, CEO of TLB. “Moreover, high net worth individuals (HNWIs) are showing vibrant interest in new financial solutions, presenting new opportunities for innovation in both products and services. Because of this, the Guide remains an important and relevant tool for financial professionals today. We hope that it provides a useful guide to understanding the key dimensions of HNW life insurance and practical applications. This is part of our continuing commitment to provide utmost support to our partners and helping to add more value to our customers’ lives,” he added.

“We are delighted to once again partner with Transamerica Life (Bermuda) Ltd. to release this updated version of the Guide. With the challenging market and health environment, we see HNWIs reassessing their priorities and looking for more ways to grow and protect their wealth. The continued demand for life insurance offers a great growth opportunity for financial professionals who are able to quickly adapt to the changing expectations and needs of this unique market segment,” said Michael Stanhope, Founder and CEO of Hubbis.

As a leading life insurance company singularly focused on the HNW market, TLB is recognised for its award-winning products and services, as well as its expertise in handling large sums assured and complex cases supporting legacy and business planning. Launched in December 2019, TLB’s MHNW program provides its distribution partners with specialised insights, ideas, and resources to help them better serve the needs of HNW customers. As the latest resource under TLB’s MHNW program, the Guide aims to furnish financial professionals with an accessible tool to increase their knowledge and skills, helping them to maximise their opportunities in the growing HNW space.

“Guide to HNW Life Insurance – a Practical Handbook for Financial Advisors (2022)” is available to financial services professionals via Hubbis at https://www.hubbis.com/article/guide-to-hnw-life-insurance

Hashtag: #TransamericaLifeBermuda

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

About Transamerica Life (Bermuda) Ltd.:

Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection, including handling large sums assured and complex cases supporting legacy and business planning. Transamerica has been in Asia for over 80 years and has been a pioneer in managing universal life portfolios for over 40 years. TLB was awarded an “Outstanding Responsible Insurer (2021)” award at the 12th Benchmark Wealth Management Awards in Hong Kong. TLB is part of the Aegon Group, an integrated, diversified, international financial services group that offers investment, protection, and retirement solutions. Further information about TLB is available here:

About Aegon:

Aegon’s roots go back 175 years – to the first half of the nineteenth century. Since then, Aegon has grown into an integrated, diversified, international financial services group that offers investment, protection, and retirement solutions. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. Aegon companies employ over 22,600 employees and has 31.7 million customers with a clear purpose of “Helping people live their best lives.” Further information about Aegon is available here:

Transamerica Life Bermuda Releases Updated Guide To High Net Worth Life Insurance

The updated practical handbook supports financial advisors in understanding the unique features of HNW life insurance and how it can help protect their customers’ wealth

HONG KONG SAR – Media OutReach – 19 August 2022 – Transamerica Life (Bermuda) Ltd. (TLB), a leading High Net Worth (HNW) life insurer, in partnership with Hubbis (HK) Limited (“Hubbis”), announced the release of the updated “Guide to HNW Life Insurance – a Practical Handbook for Financial Advisors 2022” (“Guide”). Sponsored by TLB as part of its Mastering High Net Worth (MHNW) programme, and prepared by Hubbis, this is the third year that TLB has collaborated with Hubbis to bring this important resource to financial advisors, brokers and wealth managers.

Since the last edition of the Guide in 2021, the world and global economy has undergone dramatic changes. Although the anxiety around COVID waned in 2021 across the world, the new COVID variants that continue to emerge, the impact of the war in Ukraine, along with the rise in oil, gas, food prices and supply-side challenges from pandemic lockdowns, has impacted economic activity resulting in increased economic volatility and geopolitical risks. In addition, inflation is running at levels not seen since the early 1980s. In response, central banks around the world are now embarking on a course of rapid tightening in monetary policy. In a remarkably short space of time, we see a flip from low interest rates and high asset markets to higher interest rates and lower asset markets.

Despite the health and market uncertainty, however, the HNW and Ultra High Net Worth (UHNW) population remained resilient. According to a recent Capgemini study, in 2021 the global HNW population and their global wealth grew by 7.8% and 8% respectively. North America led the way in growth, with the European and Asia-Pacific regions following in second and third place respectively.

“While TLB sees a more mixed and challenging economic situation unfolding this year, we remain very positive about the prospects for HNW life insurance growth in 2022 and beyond. With an ever-changing and unpredictable environment comes the desire for more certainty – and life insurance continues to be a perfect vehicle to provide that certainty,” said Chirag Rathod, CEO of TLB. “Moreover, high net worth individuals (HNWIs) are showing vibrant interest in new financial solutions, presenting new opportunities for innovation in both products and services. Because of this, the Guide remains an important and relevant tool for financial professionals today. We hope that it provides a useful guide to understanding the key dimensions of HNW life insurance and practical applications. This is part of our continuing commitment to provide utmost support to our partners and helping to add more value to our customers’ lives,” he added.

“We are delighted to once again partner with Transamerica Life (Bermuda) Ltd. to release this updated version of the Guide. With the challenging market and health environment, we see HNWIs reassessing their priorities and looking for more ways to grow and protect their wealth. The continued demand for life insurance offers a great growth opportunity for financial professionals who are able to quickly adapt to the changing expectations and needs of this unique market segment,” said Michael Stanhope, Founder and CEO of Hubbis.

As a leading life insurance company singularly focused on the HNW market, TLB is recognised for its award-winning products and services, as well as its expertise in handling large sums assured and complex cases supporting legacy and business planning. Launched in December 2019, TLB’s MHNW program provides its distribution partners with specialised insights, ideas, and resources to help them better serve the needs of HNW customers. As the latest resource under TLB’s MHNW program, the Guide aims to furnish financial professionals with an accessible tool to increase their knowledge and skills, helping them to maximise their opportunities in the growing HNW space.

“Guide to HNW Life Insurance – a Practical Handbook for Financial Advisors (2022)” is available to financial services professionals via Hubbis at https://www.hubbis.com/article/guide-to-hnw-life-insurance

Hashtag: #TransamericaLifeBermuda

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

About Transamerica Life (Bermuda) Ltd.:

Transamerica Life (Bermuda) Ltd. (TLB) is a recognised leading HNW life insurance provider with extensive expertise in all aspects of HNW wealth protection, including handling large sums assured and complex cases supporting legacy and business planning. Transamerica has been in Asia for over 80 years and has been a pioneer in managing universal life portfolios for over 40 years. TLB was awarded an “Outstanding Responsible Insurer (2021)” award at the 12th Benchmark Wealth Management Awards in Hong Kong. TLB is part of the Aegon Group, an integrated, diversified, international financial services group that offers investment, protection, and retirement solutions. Further information about TLB is available here:

About Aegon:

Aegon’s roots go back 175 years – to the first half of the nineteenth century. Since then, Aegon has grown into an integrated, diversified, international financial services group that offers investment, protection, and retirement solutions. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. Aegon companies employ over 22,600 employees and has 31.7 million customers with a clear purpose of “Helping people live their best lives.” Further information about Aegon is available here:

Which Dams Are Releasing Water in Laos?

As monsoonal rains drench Laos and rivers continue to rise across the country, several hydropower projects have been forced to release water. Where are these dams, and when have they released water?

Samsung Singapore Unveils Bespoke Home Expansion

More customisation and colour options available to help homeowners achieve their personal aesthetics

SINGAPORE – Media OutReach – 19 August 2022 – Samsung Electronics Singapore today announced the expansion of its Bespoke Home, including new Bespoke Refrigerator personalisation options and a new colour for Bespoke Jet™ to provide homeowners versatility to express their individuality within their living spaces.

Homeowners can build their dream homes with the new personalisation options through Samsung's Bespoke home appliances

Homeowners can build their dream homes with the new personalisation options through Samsung’s Bespoke home appliances

To mark the launch, Samsung will also hold a limited-time only Bespoke Home Pop-up held at the heart of Orchard Road. The pop-up offers consumer an opportunity to see for themselves how Samsung Bespoke home appliances can transform homes into a space that expresses their personal styles.

Gavin Yeong, Head of Digital Appliances, Samsung Electronics Singapore said: “Since the introduction of our Bespoke line-up last year, we have seen greater demand and adoption of our Bespoke home appliances among homeowners who want to personalise their living spaces. The line-up challenges the notion of how white goods should look like. With this latest expansion, we aim to delight more consumers by offering expanded design and colour options to help them build their dream homes.”

The Swirl design from the new Bespoke Wallpaper Collection

The Swirl design from the new Bespoke Wallpaper Collection

A Bespoke Home for every lifestyle needs

Since the introduction of Samsung’s Bespoke range, consumers in Singapore have welcomed the ability to bring customisation to the next level for their homes with unique colours, designs and even the ability to create their very own designs through the Bespoke Creators Collection launched earlier this year.

The latest expansion for the Bespoke Refrigerator now includes a new Wallpaper Collection, a range of Disney-inspired designs as well as new colour options.

  • Bespoke Wallpaper Collection

For those who are into vivid, patterned designs, the new Wallpaper Collection consists of eight trendy designs for different aesthetic preferences at launch, with more designs to be added at a later date.

Be it lush, monochrome, or pop art inspired designs, the Bespoke Wallpaper Collection adds vibrancy to homes. (More details on the various designs in the Appendix section below)

The Bespoke Wallpaper Collection feature a set of varied designs that suits modern home interior aesthetics

The Bespoke Wallpaper Collection feature a set of varied designs that suits modern home interior aesthetics

  • Bespoke Disney and Marvel-themed Collection

For Disney fans, Samsung will bring fan favourite characters and designs to your home with four Disney-inspired designs for its Bespoke Refrigerator range.

Homeowners can look forward to welcoming their favourite Disney characters to their homes with these new designs

Homeowners can look forward to welcoming their favourite Disney characters to their homes with these new designs

Marvel fans can also look forward to an expanded collection featuring their favourite Super Heroes. The Marvel-themed collection will be available for purchase at a later date.

  • New Bespoke Refrigerator Colours
Three new colour options will be made available for consumers to choose from

Three new colour options will be made available for consumers to choose from

Samsung is also adding three more colour options[1] for Bespoke Refrigerators: Clean Vanilla, Clean Peach, and Satin Beige, providing consumers even more choices to complement their interiors. This is on top of an existing palette of five classic and vibrant hues: soft and silky (Satin Glass) or glossy (Glam Glass) finishes such as Glam White, Glam Pink, Glam Navy, Satin Sky Blue or Satin Grey.

Beyond its refrigerators, Samsung will also be introducing the Bespoke Jet™ premium in Midnight Blue, a new sophisticated hue that joins the existing line-up of Woody Green and Misty White colour options for the vacuum cleaner.

The new Bespoke Jet™ premium in Midnight Blue elevates homeowners' living spaces with its sleek design

The new Bespoke Jet™ premium in Midnight Blue elevates homeowners’ living spaces with its sleek design

With Bespoke Jet™, consumers can store, charge and empty this cordless vacuum with its All-in-one Clean Station™ easily, a design that will fit in most modern home aesthetics.

Make it yours. Make it Bespoke.

Samsung will be holding a pop-up to showcase the versatile Bespoke range of appliances, featuring the new designs and colours, at Orchard Road, outside Ngee Ann City (in front of the fountain) from 20 August to 15 September to bring to life the Bespoke ethos for more consumers.

Visitors can look forward to seeing Samsung’s extensive Bespoke home appliances range in different themed rooms, showcasing how Bespoke Home can transform living spaces, as well as inspire homeowners to tap on into a smarter, more convenient home life. (More details about the different themed rooms in the Appendix section below)

For the duration of the pop-up, visitors can stand a chance to win a new Samsung Galaxy Z Flip4 5G (128GB) worth $1,398 each week, when they take part in the Bespoke Home Contest on Instagram[2]. Simply snap a picture at the Bespoke Home pop-up in one of the thematic rooms set up that best matches your personality, share it as a post on Instagram about your ideal Bespoke Home, tagging @samsungsg with both #SamsungBespokeSG and #BespokeHomeSG hashtags to qualify for the contest.

Local Availability and Pricing

The Bespoke Refrigerator with its new designs are now available on the Samsung Online Store for purchase and at selected consumer electronics retailer stores starting from $2,249. Marvel collection will be available for purchase at a later date.

The Bespoke Jet™ premium in Midnight Blue is available at a recommended retail price at $1,349. Customers will also receive a free Jet Dual Brush worth $149 & Dust Bag (5pcs) worth $30[3].

Consumers can find out more about Bespoke Home here.

Appendix

Samsung Bespoke Wallpaper Collection[4]


Samsung Bespoke Home Pop-up at Orchard Road, Ngee Ann City

Dates 20 August to 15 September 2022
Opening Hours 10 AM to 9 PM daily
Venue Orchard Road, Outside Ngee Ann City Fountain
What to Expect Visit Samsung Bespoke Home’s first pop-up store at the heart of Orchard Road and see how you can make Samsung home appliances your very own, and create unique pieces that will fit your home aesthetics.

Visitors will be able to experience for themselves five different themed rooms across two levels and see in real-life how Samsung’s Bespoke products can bring about a variety of looks that will appeal to different aesthetics.

Rooms Description

Make it Lush

The “Make it Lush” room is inspired by the latest biophilic design trend which brings nature close to consumers’ living spaces. Adorned with lush greenery, consumers can experience how Samsung’s Bespoke products fit in seamlessly into a nature-themed living space.

Make it Monochrome

Are you a pink fan? The “Make it Monochrome” room feature Samsung’s Bespoke Refrigerator in the Swirl design from the latest Wallpaper Collection and microwave oven in pink finishes, in a luxurious lounge setting with different shades of pink — all ready for your perfect Instagram shot.

Make it Magical

The “Make it Magical” room features Samsung’s latest Bespoke products, including its new range of Disney-inspired designs featuring much-loved characters such as Mickey Mouse, Minnie Mouse and more.

Make it Pop Art

The “Make it Pop Art” room is an art gallery showcasing Samsung’s latest Wallpaper Collection designs, along with other Bespoke products, including designs from the recent #YouMake campaign.

Make it Yours

In this room, consumers can see for themselves how creative designs and colours can adorn Samsung’s range of home appliances. Visitors, especially those who are looking to redesign their living spaces, can seek to be inspired

Promos
  • The first daily 25 visitors[5] who RSVP for the pop-up event on selected weekends (20, 21, 27 and 28 August) will receive a special gift worth $45.
  • Visitors will also receive a complimentary drink[6] upon the completion of a short survey about the popup.

Learn more https://www.samsung.com/sg/make-it-bespoke-home/


[1] Clean Peach, Clean Vanilla and Satin Beige panel colours are only applicable for RZ32T7445AP/SS and RB33T3070AP/SS.

[2] A total of four Samsung Galaxy Z Flip4 5G (128GB) will be given for the duration of the event, leading to the conclusion of the pop-up event. Samsung reserves the rights to amend the contest mechanics, prize selection process, and contest photo judging. No person shall be entitled to, and Samsung shall not be liable for, any payment or compensation (whether in cash, credit or kind) whatsoever arising from the foregoing.

[3] While stocks last.

[4] Price for each Bespoke Refrigerator will vary depending on the selection of colour panels and finish, and option for further customisation with designs from Bespoke Creators Collection, Bespoke Wallpaper Collection, or Design Your Own. Top up cost for design customisation is fixed for each Bespoke Refrigerator type and applicable for full or partial design customisation. Check in-store for more details.

[5] Only the daily first 25 visitors with prior RSVP who attend the Event on the selected weekends shall receive the special gift. Each RSVP is entitled to only one (1) special gift. The special gift is non-transferrable or exchangeable. Other terms and conditions apply. A Samsung representative shall verify your RSVP before entry to the Event. Walk-ins are subjected to availability.

[6] While stocks last.

Hashtag: #Samsung

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at .

China Lilang Announces 2022 Interim Results

Revenue Up 3.2% to RMB1,398 Million
Net Profit Amounts to RMB257 Million
Interim Dividends of HK18 Cents Per Share

HONG KONG SAR – Media OutReach – 19 August 2022 – China Lilang Limited (“China Lilang” or the “Company”, together with its subsidiaries the “Group”; stock code: 1234) has today announced its 2022 interim results.

Results Highlights

  • Revenue increased by 3.2% to RMB1,398 million
  • Net profit was RMB257 million
  • Earnings per share was RMB21.5 cents
  • Interim dividends totalled HK18 cents per share
  • During the first half of the year, the total retail sales of the Group’s products achieved low single-digit growth year-on-year

Mr. Wang Dong Xing, Chairman and Executive Director of China Lilang, said,

“In the first half of the year, the international environment was complex and severe, with frequent domestic outbreaks of the novel coronavirus pandemic (the “Pandemic”). This put pressure on consumer market operations. However, as the Pandemic prevention and control situation improved and the policies to promote consumption took effect, consumer demand was gradually released and the consumer market gradually recovered, with the domestic economy as a whole showing a steady recovery. In the first half of 2022, China Lilang actively responded to the challenges posed by the Pandemic, and steadily implemented a series of reform initiatives. During the period, the total retail sales of the Group’s products maintained positive growth, achieving low single-digit growth year-on-year.”

For the six months ended 30 June 2022, the Group’s revenue increased by 3.2% year-on-year to RMB1,398 million. Profit from operations was RMB294 million. Due to the impact of the delayed recognition of sales resulting from the shift from the core collection distribution model to the consignment model, which has a higher proportion of total retail sales with a lower gross profit margin, and the rise in raw material prices during the period, the overall gross profit margin decreased by 0.8 percentage points year-on-year to 48.7%. Net profit decreased by 5.3% to RMB257 million. The net profit margin declined by 1.6 percentage points to 18.4%. Earnings per share was RMB21.5 cents.

During the period, the Group maintained a healthy financial position with sufficient cash flow. The Board of Directors has resolved to pay an interim dividend of HK13 cents per share (2021 Interim: HK13 cents) and a special interim dividend of HK5 cents per share (2021 Interim: HK5 cents), continuing to maintain a stable payout ratio.

During the period, the Group steadily implemented a series of reform initiatives. Last year, the Group converted stores from the core collection to the consignment model for operation. Thus far, nearly 40% of core collection stores are operating under the consignment model. The Group continued to pragmatically support distributors in optimising the retail network by closing certain underperforming stores while opening stores in carefully selected quality shopping malls and prime shop locations. The Group also promoted the increased use of the WeChat platform in physical stores to achieve higher store efficiency. To further enhance the efficiency of the smart casual collection stores, the Group revamped its store network, optimised the store locations by moving closer to first- and second-tier markets, and enhanced the space layout of stores during the period. The Group had a total of 2,627 retail stores nationwide, representing a net decrease of 106 stores during the period. Among them, the number of stores in shopping malls amounted to 818, accounting for 31.1% of the total store count and 33.3% of the total retail area; and the number of outlet stores reached 48.

New retail remains one of the Group’s top priorities for business development. The Group strives to promote the business of its LILANZ core collection and smart casual collection by actively integrating online services with offline in-store experiences and comprehensive logistics services. Following the shift of the e-commerce online store operations to the direct-to-retail model, the Group can organise sales promotion and e-commerce live streaming in a more flexible manner, and e-commerce was used more effectively for inventory clearance. On the other hand, logistics was hampered by the Pandemic, and the retail sales value of online stores for the period slightly increased by 1% year-on-year. While sales acceleration in the past two years mainly focused on inventory clearance, the Group is increasing the proportion of seasonal product sales during the period. In addition to gradually adding more new products to its online sales channels and launching new products during the 618 shopping festival, the Group reorganised its in-house production plant in a prompt manner and added seven production lines. This demonstrated the Group’s ability to replenish orders in a swift manner, marking the continuous development of the new model of selling new products online.

As for brand management and promotion, the Group continued to enhance the personalisation and original design of its products to provide greater value for money. During the period, the Group formed a co-branding partnership with Chinese National Geography magazine and artist Cao Yu (Leo), and LESS IS MORE formed a co-branding partnership with the science fiction “The Three-Body Universe” for its shop image. Han Han, the Group’s brand ambassador, has a new film, “Only Fools Rush In”, scheduled for release on the first day of the Lunar New Year, and Lilang has officially announced that it is the official menswear partner for the film. In addition, the LESS IS MORE summer collection by brand ambassador Gao Hanyu was launched. This series of brand promotion activities has effectively boosted the rejuvenation of the brand and enhanced its brand power.

Looking ahead to the second half of 2022, despite the uncertain macro environment, the Group will continue to adopt flexible sales strategies, striving to maintain channel health and reduce inventory risk. The Group will also consolidate its store network, accelerate new retail development and enhance its brand image while striving to outperform its peers.

With approximately 40% of the core collection stores operating under the consignment model and the smart casual collection stores and online shops operating under the self-operated model, the Group’s control over its sale channels has been strengthened. In the second half year, the Group will take full advantage of the mutual exchange of inventory and the complementary advantages of its WeChat Mall stores and physical stores to promote channel optimisation, improve the store network, and enhance store efficiency, brand promotion and product sell through rates in order to better capture the recovery of the consumer market. In consideration of uncertainties in the macro environment, the total retail sales growth target for the year 2022 has been revised from more than 10% to single-digit growth.

In the second half of the year, the Group will adopt a prudent store opening strategy with a view to maintaining steady growth and profitability. It will optimise its store network in Hefei, Nanchang, Jiangsu and other regions to increase the number of stores in quality shopping malls and expand the virtual inventories of its stores to enhance store efficiency. Due to the uncertainty of the Pandemic, the Group has adopted a more prudent approach to store openings to maintain the same number of stores as the previous year, which means an increase of approximately 100 stores in the second half of the year.

As for new retail, the Group will continue to promote e-commerce. Other than being a channel for inventory clearance, online stores are becoming an important tool for the Group to launch more new products. The Group will launch a special online edition of its environmentally friendly collection in the second half of the year. Prior to the 11 November shopping festival, the Group will launch unique, quality items online, creating an outstanding consumer experience with precise online promotions to respond to individual needs in the market, develop consumer loyalty and raise gross profit margins, providing a new growth point for the full year’s performance.

As for retail management, the Group will enhance the Lilang Member Programme by organising more member activities and providing exclusive promotions and discounts. The Group will enhance its marketing capabilities and strengthen its retail information system. In terms of product design, the Group will bring environmental protection and sustainable development elements into its products, and will launch an ecofriendlyproducts collection starting from the spring and summer seasons and thereafter quarterly. Such plan reflects the Group’s commitment to responding to the national goal of achieving carbon peaking by 2030 and carbon neutrality by 2060.

In addition, the new logistics centre aims to commence full operation before September 2022, which will see its logistics arrangements ready for the peak e-commerce season. The new logistics centre will be powered by an intelligent system that can optimise the Group’s nationwide logistics network and facilitate the effective delivery of goods to stores, thus further enhancing its inventory control and logistics efficiency.

Chairman Wang Dong Xing concluded:

“Although the macro environment is uncertain as the Pandemic in Mainland China is not yet fully under control, the real estate market is unstable and there are frequent international political issues. However, with the Pandemic gradually easing and the central government implementing economic stimulus measures to accelerate economic recovery and revive consumer confidence, the Group is cautiously optimistic about the retail market. In the long run, China Lilang will retain its multi-brand strategy as it endeavours to strengthen its product competitiveness and value for money to further consolidate its leading position in the menswear industry and realise sustainable long-term growth to reward its shareholders, staff and customers for their support.”

Hashtag: #ChinaLilang

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

Husband Kills Wife in Luang Nam Tha Shooting

A 56-year-old husband shot and killed his wife at an up-land rice field hut in Kuisoung Village, Lae District, Luang Nam Tha Province, on 29 July.

Terraoil Swiss AG: Terraoil Provides Update on Next Shareholders’ Meeting

Preparations for Next AGM Advance with Significant Progress in Audits

STEINHAUSEN, SWITZERLAND – EQS Newswire – 19 August 2022 – Terraoil Swiss AG, an energy company with a strong focus on the Mediterranean is pleased to announce that the Company is making significant progress toward holding its Annual Shareholders’ Meetings for the fiscal years 2020 and 2021.

The main milestone for the circulation of the invitation for the meeting is the completion of the audits for both years which are presently being conducted in Albania and Switzerland by a&o kreston audit ag. The audit of the 2020 statutory financial statements in Switzerland has been substantially completed and the 2021 audit is set to commence immediately upon completion of the 2020 audit. Correspondingly, the audits of the statutory financial statements in Albania are also nearing completion. The consolidated financial statements for the group will be audited as soon as the individual component audits are completed. The invitation for the AGM will be sent to shareholders as soon as the statutory audits are completed in Switzerland.

Chief Executive Officer, Peter Krempin commented:

“The audits are progressing extremely well in both Switzerland and Albania, particularly in consideration of the fact that they are taking place during the summer months and are dependent on staff availability. We are looking forward to circulating the invitation for the Annual General Meetings for 2020 and 2021 in the coming weeks. The AGM will be our first opportunity for a face-to-face meeting with our shareholders since the crisis triggered by the pandemic and we look forward to meeting with our shareholders to provide the financial statements and an update on our accomplishments and future outlook.”

If you are an Terraoil shareholder and would like additional information, contact Peter Krempin either via email investors@terraoil.swiss or by telephone at +41 71 544 01 20.

Hashtag: #TerraoilSwissAG

About Terraoil Swiss AG

Terraoil is an international energy company with a focus to identify and rapidly advance business opportunities in the upstream oil and gas and renewable energy sectors in the Mediterranean region.

Terraoil forward-looking statements
This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of Terraoil Swiss AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. In addition, investors should seek advice from their bank or their financial adviser. This media release and the information contained therein are not being issued for the purpose of selling shares in the United States of America, Australia, Canada, Japan, the United Kingdom, or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. Readers should therefore not rely on these forward-looking statements. The forward-looking statements contained in this media release are based on the views and assumptions of Terraoil Swiss AG as of this date and Terraoil Swiss AG does not assume any obligation to update or revise this media release.

India Seeks Expansion of Highway To Laos, Cambodia, and Vietnam 

India is now looking to expand the India-Myanmar-Thailand Trilateral Highway to Laos, Cambodia, and Vietnam, in order to increase connectivity of the region.