Cases of dengue fever in Laos have reached nearly 10,000 in just half a year, according to the Ministry of Health.
Fire, natural catastrophes and faulty workmanship top causes of insurance claims for business: Allianz
- Global Claims Review 2022: Allianz Global Corporate & Specialty analyzed more than 530,000 insurance claims from 2017 to 2021 with a value of €88.7bn (US$90.4bn).
- Claims severity has increased while inflation will further challenge costs. Updating valuations of assets is key for companies and insurers.
- Contingent business interruption claims reach a new level driven by broken supply chains. Cyber claims remain elevated.
- Ukraine war: claims activity manageable for most insurance segments.
- APAC: fire/explosion ranks top cause of loss in Australia, China and Singapore
JOHANNESBURG/LONDON/MUNICH/NEW YORK/PARIS/SAO PAULO/SINGAPORE – Media OutReach – 19 July 2022 – A fire at a busy warehouse leaves a company struggling to replace its buffer stock; a ransomware attack paralyzes a company’s IT systems; the use of industrial adhesives in manufacturing results in a costly product recall: every day companies around the globe, together with their insurers, experience losses, in multiple forms, in the millions of dollars. Over the past five years, fire and explosion, natural catastrophes and faulty workmanship or maintenance have been the major causes of loss by value of insurance claims, according to the “Global Claims Review 2022” from Allianz Global Corporate & Specialty (AGCS).
“Insurance claims from companies have become more severe over the past five years due to factors such as higher property and asset values, more complex supply chains and the growing concentration of exposures in one location, such as in natural catastrophe-prone areas,” says AGCS Chief Claims Officer and Board Member Thomas Sepp. “The future does not look brighter anytime soon. Companies and their insurers have shown resilience to weather the loss impact of the pandemic, but the ongoing war in Ukraine, a spike in the cost and frequency of business interruption losses and the sustained elevated level of cyber claims are creating new challenges. At the same time, the top two causes of claims, fires and natural hazards, remain significant loss drivers for companies. Last but not least, the impact of soaring inflation around the world will bring further pressure on claims costs.”
Inflation puts undervaluation of assets in the spotlight
Ultimately, inflation brings pressure on claims costs from multiple angles. Property and construction insurance claims, in particular, are exposed to higher inflation, as rebuilds and repairs are linked to the cost of materials and labor, while shortages and longer delivery times inflate business interruption (BI) values. Other lines of insurance, such as directors and officers, professional indemnity and general liability, are also susceptible to inflationary pressures through rising legal defense costs and higher settlements.
“Replacement costs more and replacement takes longer, and this means both the property damage and the business interruption loss are likely to be significantly higher,” says Sepp. “Updating insured values for all new contracts is therefore a pressing concern for insurers, brokers and insureds. If this doesn’t happen, our clients run the risk of not being fully reimbursed in the event of a loss, while insurers run the risk of underpricing exposures. The insurance market has already seen a number of claims where there has been a significant gap between the insured’s declared value and the actual replacement value.” For example, in a claim for a commercial property destroyed in the 2021 Colorado wildfires, the rebuild value was almost twice the declared value, due to a combination of inflation, demand surge, and underinsurance.
An in-depth interview with Sepp on inflation and its impact on claims is available here.
What are the top causes of business insurance claims?
In one of the industry’s most comprehensive analyses, AGCS has identified the top causes of loss for companies from more than 530,000 insurance claims in over 200 countries and territories that it has been involved with between 2017 and 2021 (typically a number of insurers provide coverage jointly considering the huge values at stake in the corporate sector). These claims have an approximate value of €88.7bn, which means that the insurance companies involved have paid out – on average – over €48mn every day for five years to cover losses.
The analysis shows that almost 75% of financial losses arise from the top 10 causes of loss, while the top three causes account for close to half (45%) of the value. Despite improvements in risk management and fire prevention, fire/explosion (excluding wildfires) is the largest single identified cause of corporate insurance losses, accounting for 21% of the value of all claims. Fires have resulted in more than €18bn worth of insurance claims over five years, according to the analysis. Even the average claim totals around €1.5mn.
Natural catastrophes (15%) ranks as the second top cause of loss globally by value of claims. Collectively, the top five causes (based on more than 20,000 claims around the world) – hurricanes/tornados (29%); storm (19%); flood (14%); frost/ice/snow (9%) and earthquake/tsunami (6%) account for 77% of the value of all disaster claims. Hurricanes and tornados are the most expensive cause of loss, driven by the fact that two of the past five Atlantic hurricane seasons (2017 and 2021) now rank among the three most active and costliest on record, as well as recent record-breaking tornado activity. Insurers are also seeing new scenarios. During 2021, the ‘Texas Big Freeze’ in the US and flooding in Germany stood out as events that were both large but had unexpected claims. For example, the ‘Texas Big Freeze’ in February caused huge disruption to infrastructure and manufacturing, with many companies forced into shutdowns by widespread power outages, resulting in property damage and in some large contingent business interruption (CBI) losses. This event alone is estimated to have caused economic losses up to $150bn.
Faulty workmanship/maintenance incidents are the third top cause of loss overall (accounting for 9% by value) and are also the second most frequent driver of claims (accounting for 7% by number, ranking only behind damaged goods with 11%). Costly incidents can include collapse of building/structure/subsidence from faulty work, faulty manufacturing of products/components or incorrect design.
The other top 10 causes of loss are: aviation collision/crash (#4; 9%), machinery breakdown (#5; 5%), defective product (#6; 5%), shipping incidents (#7; 3%), damaged goods (#8; 3%), negligence/misadvice (#9; 2%) and water damage (#10; 2%).
Fire/explosion and negligence/misadvice each account for 20% of the value of all claims in Australia, while natural catastrophes (15%) rank third. A similar trend is observed in Singapore, where fire/explosion (#1; 24%) is the top cause of loss followed by negligence/misadvice (#2; 18%) and machinery breakdown (#3; 16%). Notably, while fires rank first in terms of total loss value in Singapore, they rank low in frequency, only occurring in 4% of claims by number. In China, the top 3 causes of loss include fire/explosion (#1; 19%), defective product (#2; 13%) which is driven by China’s status as the world’s largest goods manufacturer, and then shipping incidents (#3; 12%).
“Although bushfires and the recent floods in Australia make the headlines, fires in factories and other industrial production sites contribute to the largest share of losses,” says Volker Ziegs, Regional Head of Claims, Asia Pacific, AGCS. “Against a backdrop of higher property and asset values, as well as the interconnected nature of today’s supply chains, fires can have significant downstream effects on other businesses around the world, resulting in severe interruptions to operations and culminating in higher final loss totals.”
Business interruption losses on the rise
The claims analysis also highlights the growing relevance of BI as a consequence of losses in property insurance, and the fact that CBI claims have reached a new high over the past year. Costs associated with the impact of BI following the aftermath of a loss can significantly add to the final bill from an incident. The average BI property insurance claim now totals in excess of €3.8mn compared with €3.1mn five years ago. For large claims (>€5mn), the average property insurance claim which includes a BI component is more than double that of the average property damage claim.
The number of CBI claims has increased year-on-year for the past five years, exemplifying the growing interdependence and complexity of corporate supply chains. The automotive industry alone has seen several CBI events during this period, with the overall growth in CBI claims exacerbated in the last two years by a large loss in the semi-conductor manufacturing sector and the ‘Texas Big Freeze’ event. The claims from these two events more than tripled the number of CBI claims in the previous three years.
While not appearing in the top 10 causes of loss, the number of cyber claims has significantly increased over the past few years, driven by the rise of threats such as ransomware attacks, but also reflecting the growth of cyber insurance. AGCS has been involved in more than 1,000 cyber claims in both 2020 and 2021, compared with fewer than 100 in 2016. Claims frequency has begun to stabilize however, albeit at elevated levels.
The Covid-19 legacy and the Ukraine crisis
The report also investigates the insurance impact of recent specific claims events such as the pandemic and the Ukraine crisis. Insured losses from Covid-19 are in excess of $40bn according to industry estimates, with the bulk of claims coming from event cancellation insurance and BI claims from companies affected by lockdowns. The pandemic has also had knock-on effects such as stressed supply chains, heightened inflation, and financial insolvencies.
Meanwhile, Russia’s invasion of Ukraine is likely to result in a significant, yet manageable, loss for the global insurance industry. Insurers exposure to the conflict are limited by war exclusions, which are standard in most property/casualty insurance contracts. Expected insured losses from the war in Ukraine are comparable with a mid-sized natural catastrophe, according to AGCS, but specialist markets like aviation insurance could yet suffer disproportionately.
The report and further materials are available for download here.
Hashtag: #Allianz
About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide
risk consultancy,
Property-Casualty insurance solutions and
alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across nine
dedicated lines of business and
six regional hubs.
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses. Among them are not only the world’s largest consumer brands, financial institutions, tech companies and the global aviation and shipping industry, but also satellite operators or Hollywood film productions. They all look to AGCS for smart solutions and global programs to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding
claims experience.
Worldwide, AGCS operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,250 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable
financial ratings. In 2021, AGCS generated a total of €9.5 billion gross premium globally.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.
Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.
No duty to update
The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.
Publishers are Bullish on APAC Market but Concerned about Misinformation, According to Report Commissioned by the Society of Publishers in Asia
- Research performed by Economist Impact, commissioned by the Society of Publishers in Asia and supported by the Google News Initiative, highlights long-term unsustainability in the Asia-Pacific’s news media industry despite evergreen demand – stressing the need for technological and business model innovation
- The report reflects insights from consumers as well as 500 industry, government and NGO executives across the Asia-Pacific, including 150 media and publishing executives
HONG KONG SAR – Media OutReach – 19 July 2022 – The News Sustainability: Investing in the Future of Asia-Pacific’s Info-Ecosystem report launched today highlights the critical need for the Asia-Pacific’s news media industry to innovate via technological investments and new business models. Commissioned by the Society of Publishers in Asia (SOPA), supported by the Google News Initiative, and prepared by Economist Impact, the report highlights the challenges and opportunities within the region’s news media landscape, and how organisations are rethinking business models as consumer demands evolve.
Evergreen demand for accurate and reliable information
Amid the COVID-19 pandemic and an evolving business landscape driven by digitalisation, the role of reliable news in enabling the Asia-Pacific’s societies to function remains more critical than ever.
The report finds that this demand is strongly apparent in the Asia-Pacific, reflecting the bullish sentiment shared by 82 percent of surveyed executives who believe in sustainable industry profitability, whilst 83 percent of media and publishing executives expect healthy demand growth. Yet, many executives think that converting the region’s inherent market value into revenue will be challenging. On top of that, misinformation has become a chief concern among the market stakeholders, expressed by 76% of consumers, whereas 81% of executives believe that misinformation can seriously threaten the news media industry’s long-term sustainability.
“Societies depend heavily on the veracity and accessibility of news to function efficiently. Significant change is happening – socially, economically and technologically – so regional news media stakeholders must adapt to maintain their industry’s sustainability. Through this report, we hope to provide industry executives and investors, as well as policymakers, the insights needed to build a stronger and lasting news media ecosystem, as it will continue to keep people informed and connected amid our rapidly changing environment,” said Byron Perry, Chair of the Society of Publishers in Asia (SOPA).
The need to rethink and innovate business models
Digital transformation is causing a significant rethink of business models across a wide variety of industries in the Asia-Pacific. The news media industry is especially impacted due to changes in consumer behaviours and the rise of digital competitors, highlighting the crucial need for adaptability. Despite this, 53 percent of news media and publishing executives think their organisation’s current business model will not be viable in the next five years, with 62 percent of them even believing that their organisation under-invested in digital strategies over the previous five years.
Views also differ on whether technology has positively or negatively disrupted the region’s news media industry. 53 percent of all executives believe that digital technologies are threatening news media industry business viability but simultaneously, 87 percent of all executives believe that the right technology investments can improve long-term industry sustainability.
There is also a dichotomy about how the news media industry must evolve. 54 percent of all executives believe news media companies must create new revenue sources or business models, especially beyond advertising sales or subscriptions, as noted by 65 percent of corporate executives and 73 percent of NGO executives. Meanwhile, 46 percent of executives believe in intensifying advertising sales and subscriptions, including 38 percent of media and publishing executives who are less enthused about focusing on other business models. In contrast, industry experts all believe that diversification is needed to build loyalty and revenue in the future – such as via events, podcasts and videos, online classifieds, or even cooking or game verticals.
“The past few years have shown that innovation is no longer a good-to-have, but a critical must-have. While there are different perceptions as to how the industry should innovate its business models, the three keys to success are to embrace technology, to think creatively, and to never compromise on quality” said Naka Kondo, Manager, Policy and Insights, Economist Impact.
“We work closely with news partners across the region to support their goals and strengthen quality journalism and have seen first-hand the innovation that is taking place to explore new business models and find new ways to connect with audiences,” Kate Beddoe, Director of News Partnerships, Google Asia Pacific said.
The News Sustainability: Investing in the Future of Asia-Pacific’s Info-Ecosystem report reflects the findings of two surveys conducted by Economist Intelligence across 12 markets in the Asia-Pacific region – one with over 2,000 consumers and another with 500 executives spanning over 20 industries, including 150 media and publishing, as well as those from government and NGO organisations. The report also includes additional insights gleaned from in-depth interviews with media industry experts.
To download the full report, visit https://impact.economist.com/perspectives/technology-innovation/news-sustainability-investing-future-asia-pacifics-info-ecosystem.
Hashtag: #SocietyofPublishersinAsia #SOPA
About the Society of Publishers in Asia (SOPA)
The Society of Publishers in Asia (SOPA) is a Hong Kong-based not-for-profit organisation that was founded in 1982 dedicated to pursuing excellence in journalism. This year marks SOPA’s 40th anniversary since its founding to champion freedom of the press, promote excellence in journalism and endorse best practices for all local and regional publishing platforms in the Asia Pacific region.
Today, SOPA is the voice of Asia’s media and publishing industry, and continues to work to uphold media standards and freedoms while celebrating and supporting professional journalism and publishing. The SOPA Awards for Editorial Excellence are the annual flagship awards, serving as a regional benchmark for quality, professional journalism.
Visit www.sopasia.com or
SOPA LinkedIn for more information.
About Economist Impact
Economist Impact combines the rigour of a think-tank with the creativity of a media brand to engage a globally influential audience. It believes that evidence-based insights can open debate, broaden perspectives and catalyse progress. The services offered by Economist Impact previously existed within The Economist Group as separate entities, including EIU Thought Leadership, EIU Public Policy, Economist Events, EBrandConnect and SignalNoise.
Economist Impact’s track record spans 75 years across 205 countries. Along with creative storytelling, events expertise, design-thinking solutions and market-leading media products, it produces framework design, benchmarking, economic and social impact analysis, forecasting and scenario modelling, making Economist Impact’s offering unique in the marketplace. Visit www.economistimpact.com for more information.
About Google News Initiative
The Google News Initiative is Google’s effort to work with the news industry to help journalism thrive in the digital age. Its efforts focus on three pillars: working with the news industry to evolve their business models and drive sustainable growth, elevating quality journalism and empowering news organizations with new technology.
China Issues Yellow Alerts as Heatwave Strikes Several Regions

China, like Europe and the US, is experiencing an unprecedented heatwave that has the UN calling for decisive climate action.
Fellaz Paves the Way for Web3 Entertainment Platform for Major K-pop Artists, Influencers, and Fans

In preparation for their launch, the Fellaz team held an exclusive opening event, ‘Fellaz by the bay’ on July 14th at Sentosa Island, Singapore. The platform’s Chief Producer, Felix (BAYC#8169) hosted the event and many notable investors and companies including Binance, Warner Music Group, Rakuten, GS Ventures, IDEG, JAB Consumer Fund, Norge’s Bank, Krust, Republik, Le Freeport, Coin Hakko and more were in attendance. The event revealed several famous K-pop stars, whose combined fanbases top several million. The event also showcased ‘Uptown Boy’, an original song co-produced by Fantagio and performed by Miu, Fellaz’s first metaverse-native K-pop idol. Lastly, the event coordinators held an auction for exclusive Fellaz merch to support a local cause in Singapore.
Fellaz has the ambitious mission of defining and paving the way for a Web3 entertainment ecosystem. The project will help users from the entertainment industry transition from Web2 to Web3 through a Web3-native infrastructure. Fellaz hopes to empower influencers, artists, and fans by providing them the tools to monetize their potential instead of using traditional Web2 platforms that rely on (and sometimes exploit) these fan communities for revenue.
In this new environment, artists and users will have shared ownership over their creations and derivations in the form of immutable NFTs stored on the blockchain. The platform will use a metrics-based compensation system to determine fan participation and contribution. This will lead to an incentivized and sustained fanbase, furthering the artist’s reputation.
Fellaz’s decentralized social media platform will feature individual feeds where artists can post images, videos, and audio recordings for their fanbases. Fans can comment, like, mirror (repost), and interact with their favorite artists. They can also purchase subscriptions, which give them access to premium content and platform-native NFTs called Lightsticks. Fans can gain experience points or XP, and level up their collection of Lightsticks by engaging in a set of actions that show their support. Since Fellaz is a S2E or support-to-earn platform, fans who level up their lightsticks will earn more $FLZ as they interact with their favorite artists. Fellaz is also a C2E or create-to-earn platform allowing artists to earn $FLZ by engaging their fanbase and subscribers with original and premium content.
Fellaz also plans on expanding its platform through a proprietary blockchain ticketing solution for both IRL and metaverse concerts, fan meetings, and other related events in entertainment and sports. In addition, Fellaz will be launching priority minting access to NFTs of their metaverse-native stars, limited-edition goods, exclusive airdrops from partners, a live chat feature, personalized NFTs for fanbases, and a leaderboard to rank artists much like Billboard does with music artists.
Bobby Bhatia, CEO of Fellaz, commented, “We look forward to starting our journey in the Web3 entertainment space and will do our best to nurture and cultivate a vibrant community of artists, influencers, and fans.”
Hashtag: #Fellaz
About Fellaz
Based in Singapore, Fellaz is a multi-chain Web3 entertainment ecosystem providing content production and distribution for the metaverse, an NFT solution for artists, and a decentralized fandom community infrastructure. Alongside its network of global partners, Fellaz is a one-stop solution and ecosystem designed to help businesses, creators, and fans transition into the Web3 entertainment space by taking the best from the metaverse, decentralization, and NFT blockchain technology and integrating them with original content and Web3 diversification.
About Bobby Bhatia
Fellaz CEO, Bobby Bhatia, is a seasoned finance and technology professional, mentor, and entrepreneur with over 25 years of public and private investment experience. From FinTech to EdTech to financial services and blockchain technology, Bobby is a pioneer in digitally transforming and disrupting industries to create a more equitable world. After graduating from Duke and completing a Young Scholars program at Stanford, Bobby has worked in private equity throughout Asia since 1995. He also was the principal head investor at AIG, and Principal and Founding Member at JP Morgan Partners Asia. Moreover, Bobby is a board member at Palma Capital (Dubai), Bharat Light & Power (India), Livesports (Singapore), and Sentinel Capital (Singapore).
For more information about Fellaz, please follow the links below:
Website|
Twitter|
Telegram|
Medium|
Discord|
LinkedIn
Danone Partners with Shopee to Inspire Healthy Living
Consumers can look forward to exclusive gifts with purchase and attractive discounts during Danone’s Regional Brand Day on Shopee Mall.
SINGAPORE – Media OutReach – 18 July 2022 – Danone, a leading multi-local food and beverage company building on health-focused and fast-growing categories; and Shopee, a leading e-commerce platform in Southeast Asia and Taiwan, have announced the launch of “Let Wellness Take Flight”- Danone’s Regional Brand Day campaign on Shopee Mall. The 1-day joint campaign will bring Danone’s full suite of nutrition products to consumers across Southeast Asia including Singapore, Malaysia, Thailand, Indonesia, and Vietnam.
Happening on 23 July, Danone’s Regional Brand Day on Shopee will feature products from all Danone brands including Aptamil, Dumex, Alpro, as well as water brands such as evian and Volvic. Inspired by Danone’s vision of One Planet One Health, the campaign aims to motivate consumers to lead healthier lives and start their journey towards wellness.
Coupled with the increase in online demand for health and nutrition products, Danone aims to meet this need by partnering with Shopee to bring a greater variety of offerings to more consumers through Shopee Mall. Together with Shopee, Danone is committed to offering high-quality and safe products that benefit consumers’ health.
Deborah Chong, Global Head of eCommerce, Danone, said, “We have witnessed an incredible growth for our online business, including a 105% growth across Southeast Asia during the Shopee 12.12 Birthday Sale last year. With more consumers turning to e-commerce platforms like Shopee to seek convenient and reliable product options, we believe this collaboration will further scale our presence in the region. Prioritizing consumers’ health is crucial for us and we believe this regional campaign lets us show our care and appreciation for our consumers by providing convenient access to our products.”
Vera Saw, Country Manager Malaysia & Singapore added “We are glad to partner with Shopee on the Regional Brand Day in creating an opportunity for everyone to share our passion for nutrition, health and wellness. The campaign also provides consumers access to Danone’s full Specialized Nutrition (SN) portfolio for the whole family, which includes core milk products for children, pregnant and lactating mothers, and the newly launched Alpro plant-based milk in Singapore. With more people going online to shop for health products, the collaboration aims to support more families to make informed nutrition choices and discover products that support their health and nutrition needs.”
Underpinned by an upward trend toward e-commerce and a wide range of nutritional choices, Danone has provided consumers with the right nutrition choice for everyone’s needs. In line with the company’s mission as a purpose-driven company and to bring health through food to as many people as possible, Danone is committed to offering high-quality and safe products that have a positive impact on the health of consumers.
Pavan Challa, Director, Regional Brand Partnerships at Shopee said, “Shopee shares Danone’s belief in offering quality products that benefit consumers at a great value. With this campaign, we hope to empower shoppers to lead healthier lives through better nutrition, by sharing with them helpful health tips and great deals to stock up on the brands they love.”
On the campaign day, shoppers can look forward to a host of exclusive deals on Shopee Mall, including:
Dumex:
● Buy 4 Free 2 Promotion Packs*
● Free Shangri-la Staycation worth $370 with 12 tins purchase*
● 12-2am: Additional 2% off storewide + Flash Vouchers
● Flash Sales: throughout the day
Aptamil:
● Free Oasia Resort Sentosa Staycation worth $355 with 24 tins purchase*
● Free InterContinental Kids Afternoon Tea set worth $120 with 12 tins purchase*
● 12-2am: Additional 2% off storewide + Flash Vouchers
● Flash Sales: throughout the day
Alpro:
● Free Alpro Bamboo Stainless Steel Tumbler** worth $14.90 with min. $10 spend on any Alpro products
evian & Volvic:
● Free evian Thermal Tumbler** (worth $20) with purchase of $50 on evian and Volvic products on Shopee Supermarket
* Applicable for Dumex & Aptamil products, excluding infant and follow-on formula (0 to 12 months). T&Cs apply.
** While stocks last. Colours are randomized when given out
For more information about the Danone Brand Day, please visit https://bit.ly/3uVLrD8
Download the Shopee app for free on the App Store or Google Play Store.
Hashtag: #Danone #Shopee
About Danone (www.danone.com)
Danone is a leading global food and beverage company operating in three health-focused, fast-growing and on-trend categories: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition. With a long-standing mission of bringing health though food to as many people as possible, Danone aims to inspire healthier and more sustainable eating and drinking practices while committing to achieve measurable nutritional, social, societal and environment impact. Danone has defined its Renew strategy to restore growth, competitiveness, and value creation for the long-term. By 2025, Danone aims to become one of the first multinational companies to obtain global B Corp™ certification. With 100,000 employees, and products sold in over 120 markets, Danone generated €24.2 billion in sales in 2021. Danone’s portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (including Aqua, Blédina, Bonafont, Cow & Gate, Mizone, Oikos, Prostokvashino and Silk). Listed on Euronext Paris and present on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is a component stock of leading sustainability indexes including the ones managed by Vigeo Eiris and Sustainalytics, as well as the Ethibel Sustainability Index, the MSCI ESG Indexes, the FTSE4Good Index Series, Bloomberg Gender Equality Index, and the Access to Nutrition Index.
About Shopee Mall
Shopee Mall is the region’s leading online mall offering one-stop access to a wide range of international and local brands and retailers. Shoppers can enjoy three guarantees delivered by Shopee Mall — 100% authentic products, free returns and free shipping. With always-on deals, entertainment and a robust loyalty programme, Shopee Mall offers an unparalleled online shopping experience and the best value all year round.
BusinessFocus Award 2022: 13 Pioneering Winners Unveiled, Creating New Economic Directions

- Henderson Land Development Company Limited
- Hang Seng Bank
- Tencent Cloud
- ORIX Asia Limited
- FUJIFILM Business Innovation Hong Kong Limited
- YOOV Internet Technology (HK) Limited
- UMP Healthcare Holdings Limited
- KPay Merchant Service Limited
- Golden Emperor Properties Limited
- Town Health International Medical Group
- Igniting Capital
- Innothrough Academy
- CYOTC
Dr. Allan Zeman, the Chairman of Lan Kwai Fong Group, Mr. Stephen Liang, the Assistant Executive Director of the Hong Kong Trade Development Council and Prof. Terence Chong, the Executive Director of Lau Chor Tak Institute of Global Economics and Finance, as the honoured guests and participated in the ceremony with Ms. Cherry Liu, the Vice President of Business Strategy and Co-Founder of PressLogic hosted the award ceremony together.
Messages from Business Leaders & Academics,
With Best Wishes to Corporations in Seizing Opportunities to Innovate
Dr. Allan Zeman, the Chairman of Lan Kwai Fong Group, addressed his faith in the inauguration of the new governing team to bring a new ambience to society. Moreover, Hong Kong has gotten over a hard time in the past years, and he believes the current Chief Executive, Mr. John Lee will be working jointly with all sectors to embrace a better future for Hong Kong. In addition, he mentioned that he had contributed to suggesting the “result-oriented” approach raised by Mr. Lee earlier, and he believes that Hong Kong is moving toward a brighter future under his leadership. Besides, Dr. Zeman encourages business leaders to maintain enthusiasm for high quality service and innovative business initiatives as the COVID-19 precautionary measures would be relaxed soon. He added that he is optimistic about Hong Kong’s economic growth and progression especially with a huge potential market in the Greater Bay Area. Lastly, he wishes the corporations in Hong Kong a very prosperous future.
Mr. Stephen Liang, the Assistant Executive Director of the Hong Kong Trade Development Council, expressed his appreciation of the flexibility of corporations in Hong Kong during the pandemic to seize the opportunities that follow. He also pointed out that in society nowadays, you have “no cash with no tech”. Hence, he believes under the leadership of the new governing team, the cooperation between the Government, industry, academia, the research and commercial sector will be even closer and bring new opportunities to the Hong Kong economy.
Prof. Terence Chong, the Executive Director of Lau Chor Tak Institute of Global Economics and Finance, shared that it is difficult to create new economic directions, but he noticed that there are 3 crucial elements of the coming business trend, which are the people-oriented applications of technology, ESG strategies, and the quality of services and products.
Last but not least, Ms. Cherry Liu, the Vice President of Business Strategy and Co-Founder of PressLogic, stated that holding the BusinessFocus Award every year aims to motivate and recognize enterprises in Hong Kong for their resilience in the current challenging business environment and their contribution to the local economy. Besides, she added that Hong Kong is a place full of innovation initiatives and is the dream city for young entrepreneurs. She believes enterprises in Hong Kong will be continuously exploring different possibilities and creating more and more development opportunities, promoting the development of Hong Kong’s economy in different new directions.
The ceremony provides an unparalleled opportunity for honourable guests, business leaders and BusinessFocus team to share valuable insights, innovative technology ideas and evolving business strategies with each other. For more information on the award, please visit https://businessfocus.io/campaign/award2022
Rewarded Companies and Their Representatives:
Best ESG Planning Company Award
Henderson Land Development Company Limited
Mr. Johnny Yu – Advisor to Chairman
Best SME E-banking Service Award
Hang Seng Bank
Mr. Eric Chow – Head of Digital Delivery
Best Cloud Service Provider Award
Tencent Cloud
Mr. Steven Choi – Head of Tencent Cloud, Hong Kong & Macau
Outstanding SME Financing Bank Award
ORIX Asia Limited
Mr. Adrian Pang – Managing Director
Outstanding Commercial Innovative Application Award
FUJIFILM Business Innovation Hong Kong Limited
Mr. Alex Chow – Head, Solutions & Services Strategy
Outstanding Enterprise Cloud Solution Award
YOOV Internet Technology (HK) Limited
Mr. Philip Wong – Chief Executive Officer
Best Medical Service Company Award
UMP Healthcare Holdings Limited
Ms. Jacquen Kwok – Managing Director & General Manager
Outstanding Fintech Service Provider Award
KPay Merchant Service Limited
Ms. Kelly Tang – Senior Business Strategy Manager
Outstanding Overseas Property Agency Award – Thailand & Vietnam
Golden Emperor Properties Limited
Mr. Ivan Yam – Managing Director & Partner
Outstanding Integrated Medical Service Company Award
Town Health International Medical Group
Mr. Zhaogen Jin – Chief Executive Officer
Outstanding Venture Capital Institution
Igniting Capital
Mr. Kelvin Luk – Founder and Managing Partner
Best SME Academy
Innothrough Academy
Mr. Sam Sio – Co-Founder & Operation Director
Outstanding Cryptocurrency OTC Market Award
CYOTC
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About BusinessFocus
BusinessFocus, under PressLogic, is a fast-growing online business and finance magazine that provides managements, technology enthusiasts and entrepreneurs with new business, investment, technology and entrepreneurial inspiration. Empowered by our patent AI analytic system, BusinessFocus crafts and distributes original strategic content to connect and inspire people. With over a million social media followers, BusinessFocus helps the brand marketers and corporations to engage with their target audiences and create impactful branded content with partners.
About BusinessFocus Award
The annual event was first introduced in 2021, the BusinessFocus Award recognises the exceptional dedication and accomplishments of enterprises in continuous contributions to innovative business development and growth in Hong Kong.
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