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Prudential Singapore’s SME poll: 9 in 10 SME employees want employers to provide medical benefits

  • 60 per cent of SME employees are more willing to join a company that provides medical benefits
  • 85 per cent of SME employees said that it is a priority for companies to provide employee benefits
  • 79 per cent of SME employees see digital transformation as essential to company’s survival

SINGAPORE – Media OutReach – 26 April 2022 Coverage for in-patient and outpatient medical expenses (“medical benefits”)[1] are an important consideration for most small-and-medium-sized enterprise (SME) employees, with nine in 10 saying that they want their employers to provide healthcare coverage. This is according to a poll commissioned by Prudential Singapore (“Prudential”) which explores the needs and challenges of SMEs in the area of medical and employee benefits.

Sixty per cent of the 1,029 respondents said that they are more willing to join an SME that provides medical benefits, while almost 40 per cent are more likely to stay in a company that provides the same benefits. Almost half of them see companies that provide medical benefits as a caring employer.

Thirteen per cent of respondents said their company does not offer any medical benefits, and this number doubled (27 per cent) for SMEs with 10 or less employees. SMEs account for 99 per cent of the businesses in Singapore, and they employ 70 per cent of the workforce.[2]

Mr Dennis Tan, CEO, Prudential Singapore, said that medical benefits are essential to employees’ overall wellbeing and success at work.

“Awareness of health and protection has gone up since the pandemic, so understandably, employees value medical benefits and appreciate investments in their wellbeing and future. An ageing workforce coupled with rising healthcare costs are also driving employees to want support in the area of medical protection so that they can focus on their work with greater peace of mind,” said Mr Tan.

Most respondents cited small company size and high cost of group insurance as reasons why their company does not provide medical benefits. When asked how much budget is set aside for their company’s medical benefits per year, almost two in five SME owners and Human Resource (HR) professionals said $10,000 and below.

Employee benefits also top of mind

SME employees also value flexible benefits such as company-sponsored trainings, e-vouchers, and wellness initiatives (eg. fitness classes), with 85 per cent of them saying employers should consider it a priority to provide such benefits. However, 34 per cent of respondents said their company does not offer any employee benefits. This number went up to 45 per cent for SMEs with 10 or less employees. Small company size and high costs were noted as the key reasons for why their companies do not provide employee benefits.

SME employees also regard employee benefits to be just as important as medical benefits. Three in five respondents said that they are more willing to join a company that provides employee benefits, and two in five said that they are more willing to stay in a company that provides the same.

SME employees acknowledge need for digitalisation

When asked if they are more willing to stay in a company that prioritises digital transformation, about one in five respondents said that they would, and four in five agreed that digital transformation is an important factor for business survival.

“Digitalisation is crucial in helping SMEs remain competitive and relevant in the digital economy. It empowers businesses to accelerate growth and at the same time, appeals to talents who share this belief and are looking for companies that have started on their digital journey,” said Mr Tan.

However, just 21 per cent of SME employees say that their company is already digital. They face challenges such as lack of talent with digital skills, high cost, and lack of training opportunities to do it effectively.

All is not lost as 64 per cent of SME employees say that their company intends to undergo or is on the road to digital transformation. Steps being taken to digitalise include automation of processes and trainings for employees to enhance their digital skills.

Support for SMEs

There are various initiatives provided by the government as well as private sector companies to help SMEs speed up digitalisation. This could take the form of skills trainings in areas such as cybersecurity, or a comprehensive guide to kickstarting the SME’s digitalisation journey. One example is the customisable digital commerce playbook[3] launched by Ngee Ann Poly and Prudential which provides SMEs with guidance and practical help on the use of digital technologies.

Prudential has been supporting the needs of SMEs over the years. For example, it offers a range of insurance solutions for SMEs, even those with just three employees. It also provides a corporate wellness programme to encourage SME employees to be more proactive about preventative healthcare to ensure they stay healthier and productive for longer.

This poll was commissioned by Prudential and conducted by Milieu Insight and surveyed 1,029 Singaporean SME employees and business owners aged 18 and above who work in SMEs with 1 to 200 employees. Responses for the online poll were collected in April 2022.


[1] Examples of medical benefits in the poll include coverage at GP clinics and hospitalisation

[3] For more information, please refer to the media release “Prudential Singapore boosts support for SMEs in their digitalisation efforts and business growth” https://www.prudential.com.sg/about/newsroom/press-release/2022/prudential-singapore-boosts-support-for-smes

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 91 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2021. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,000 financial consultants.

#PrudentialSingapore

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

JC Hypnotherapy – Hong Kong Hypnotherapy Centre now provides a therapy room rental service and a more comprehensive psychotherapy service

HONG KONG SAR – Media OutReach – 26 April 2022 – Urban people live under a lot of pressure. According to the mental health statistics announced by the Hong Kong government in the early years, 1 in 7 people in Hong Kong suffers from emotional disorders. In addition to seeking psychiatrist or drug treatment, it’s believed that many people want to know more information about other effective psychotherapy.

JC Hypnotherapy is a professional hypnotherapy center in Hong Kong. It provides a series of hypnotherapy services for patients with mood disorders. The center now provides a new therapy room rental service, which can be used for hypnotherapy, counseling, interviews and group meetings.

We mainly focus on the needs of our clients, provide fast and effective therapy, and help reduce their mental disorder and regain a healthy and joyful life.

JC Hypnotherapy services include:

  • Improve insomnia symptoms, reduce dependence on sleeping pills, and help fall asleep
  • Improve emotional distress, treat the pain of lovelorn, help forget your ex, improve interpersonal relationships
  • Help patients with mood disorders deal with emotional distress (depression, OCD, anxiety disorder, social phobia), improve bulimia, anorexia, fear of heights
  • Improve addiction and quit bad habits (e.g.: quit drinking, quit gambling, quit smoking)
  • Heal childhood shadows and wounds, heal the inner child
  • Develop potential, enhance self-confidence, memory
  • Past life retrospective, find out your past entanglement

JC Hypnotherapy Center has a number of internationally recognized professional hypnotherapists on site

Hypnotherapy mainly uses guiding methods to let the clients relax, enter the depths of the subconscious mind, communicate with it and plant positive “programs”, which can help to change the patient’s thoughts and beliefs, and make positive changes in behavior, so as to achieve therapeutic effects.

Jinny, a founder of the Hypnotherapy Center

JC Hypnotherapy was founded by Jinny Chu, who holds several internationally recognised professional qualifications including:

  • National Guild of Hypnotists (NGH) hypnotherapist and hypnotherapy certified tutor
  • Professional Board of Hypnotherapy (PBH) hypnotherapist
  • American Board of Hypnotherapy (ABH) hypnotherapist
  • Psychological Counselor (issued by the China National Health Association)
  • Comprehensive Mediator (issued by the Hong Kong Mediation Accreditation Association Limited)

Jinny helps patients relieve emotional distress, improve insomnia, quit bad habits, addictions, and lose weight, her vision is to use her professionalism and love to help people live a wonderful and happy life!

JC Hypnotherapy New Address

Due to business adjustments, the latest address of JC Hypnotherapy is at Shop 253, 2/F, Hershey Centre, 63 Mody Road, Tsim Sha Tsui.

Contact JC Hypnotherapy: 98090986

#JCHypnotherapy

Laos Forms New Committee to Reform Struggling Power Company

Minister of Energy and Mines, Dr. Daovong Phonekeo and Minster of Finance, Mr. Bounchom Ubonpaseuth at a ceremony to mark the establishment of the EDL reform committee.
Minister of Energy and Mines, Dr. Daovong Phonekeo and Minster of Finance, Mr. Bounchom Ubonpaseuth at a ceremony to mark the establishment of the EDL reform committee.

The Government of Laos has set up a special committee to reform Electricite du Laos (EDL) as part of attempts to reign in bloated but underperforming state enterprises.

Laos Government, UNICEF and UNFPA Sign MOU on National Survey on Woman and Child Wellbeing

The Lao Social Indicator Survey III is a survey tool that will help generate useful national and provincial data to help inform the Lao Government’s policies and track socio-economic development progress in the country.

Phu Bia Mining Builds Road for Future Development of Xaysomboun Province

Before and after the construction.

Phu Bia Mining handed on Thursday over its 100 per cent investment in the newly constructed concrete road in Nam Mo village, located in Xaisomboun Province’s Anouvong District.

Hong Kong Shopping Centre Industry Leaders flaunt their A-Game winning in the inaugural ISCM Awards 2021

HONG KONG SAR – Media OutReach – 25 April 2022 – The biggest names in Hong Kong’s shopping centre industry contended for the first-ever ISCM Awards 2021 and official results have been announced online today to all 26 winners.

Founded by the Institute of Shopping Centre Management in 2020, the Awards set the stage with the theme “The Proven Strengths of Asia’s Shopping City: Hong Kong”, for local malls to collectively establish what it truly takes to be at the heart of Hong Kong’s culture and to duly claim its title as the “city of malls”.

ISCM Chairman, Mr Baldwin Ko said, “We are grateful to see our local professionals always thinking several steps ahead when it comes to supporting our shopping centres and the community they serve. We are all aware of how challenging the past 2 years have been for the industry, not just for the malls, but for the teams, tenants and all staff. And today, we celebrate all winners for giving Hong Kong’s malls that extra edge and generating healthy competition for the continuous development of our economy and its articulation for a prosperous Greater Bay Area.

OC Chairlady of ISCM Awards 2021, Ms Angie Chung added, “Our city is the densest concentration of shopping malls and we’ve witnessed them in the best and worst of times. So, we are very proud of all the professionals in the industry. Especially in the past few years with social unrest and the pandemic, it was truly a difficult time for shopping malls’ frontline staff and operators, yet the industry used its creativity and adapted to the situation; with latest examples from strategically thought-out promotions for the potential revenge shopping that can be leveraged by consumption vouchers provided by the government. In comparison to last October’s results, Hong Kong’s retail sales rose 12 percent year-on-year with the assistance of the e-vouchers, and we hope to see resembling results in 2022.”

The competition is strong with largely developers and their respective shopping malls winning various awards including Best Rejuvenate Shopping Centre, Best Retail Marketing and Promotion Campaign, Best Retail Leasing Team, Best Property Management Team, and Best Corporate Social Responsibility Project. All winners have been duly recognised by the jury panel for their commitment to upholding the standards for all of Asia’s shopping centres, particularly in Hong Kong.

Results of the ISCM Awards 2021 are as follows:

Category Project Name Award Type
Best Rejuvenate Shopping Centre Hin Keng Shopping Centre Grand
HarbourNorth Excellence
Lok Fu Place Excellence
New Town Plaza Merit
V Walk Merit
Best Retail Marketing and Promotion Campaign Olympian City – Leonardo da vinci Grand
apm – Flash of Beauty Livestream 2020 Excellence
CityWalk & Lee Tung Avenue 「Gaia」地球藝術裝置展覽 Excellence
T.O.P. – Cheap Century Christmas Campaign Excellence
Lee Tung Avenue – The Spirit of Christmas Merit
Lee Tung Avenue – Butterflies of Hope Merit
Lok Fu Place – Lok Fu Place Urban Retreat Merit
Olympian City – Doraemon Secret Garden Laboratory Merit
Tai Po Mega Mall – Online Learning is Fun Merit
Best Retail Leasing Team 618 Shanghai Street Excellence
Park Aura Excellence
Best Property Management Team World Trade Centre Grand
CityWalk Excellence
Metroplaza Excellence
Landmark North Merit
MOKO Merit
Tsuen Wan Plaza Merit
Best Corporate Social Responsibility Project Metroplaza Grand
Tai Po Mega Mall – United for Kids Future Excellence
CityWalk Merit
Tai Po Mega Mall – Love Our Earth Merit

For more award details, please visit: www.iscmawards.com/2021

About ISCM

The Institute of Shopping Centre Management (ISCM) is a non-profit organization founded by a group of local shopping centre professionals, certified practitioners and professors in the shopping centre management industry. We have extensive knowledge, skills and practical experience in managing various shopping centre portfolios in Hong Kong and the Mainland China. As a professional society and a recognized governing body in Hong Kong, ISCM aims to standardise and enrich the overall professional profiles within the industry and act as a representative in the shopping centre industry. Our mission is to identify various prospective channels with government bodies, thereby creating a platform to exchange best practices in the art and science of shopping centre management within the Asia Pacific region.

#ISCM

CPA Australia: Malaysian small businesses are gearing up for an innovative 2022

KUALA LUMPUR, MALAYSIA – Media OutReach – 25 April 2022 – One in four Malaysian small businesses surveyed in CPA Australia‘s Asia-Pacific Small Business Survey 2021-2022 are planning to introduce a new product, process or service to the country, or indeed the world, this year.

This innovative small business culture is critical to Malaysia attaining a ‘high technology nation’ status by 2030, supporting long-term growth and improving the competitiveness of Malaysia’s small businesses.

CPA Australia’s Malaysian Digital Transformation Committee Chairman Bryan Chung FCPA (Aust.) said the findings on Malaysia’s innovative culture are encouraging when compared to small businesses from Australia, Hong Kong, New Zealand, Singapore and Taiwan.

Bryan said that business owners’ mindsets have shifted, which augurs well. Business owners are now motivated to pursue technological innovations for long-term growth as opposed to short-term survival.

“The findings are indicative of a new generation of entrepreneurs who are tech-savvy, innovative and eager to promote what their business has to offer, both to the region and the world. Malaysian respondents are typically younger with 55.9 per cent under 40, compared with the survey average of 45.2 per cent.

“The focus on technology is reflected in cybersecurity preparedness, with 40.1 per cent of local small businesses reviewing their cybersecurity measures in the past six months, while 38.5 per cent expected their business will be cyberattacked in 2022,” he said.

Bryan also observed that the reasonable rate of technology investment is heartening against a highly challenging business environment where survival and sustainability is paramount. Of the businesses surveyed, close to 40 per cent invested in technology and said their investment improved their profitability. While for some it may have been a knee-jerk response, the positive business outcomes will to a large extent, validate continuous investments.

“This demonstrates that Malaysia’s small businesses are generally pretty good at adopting technology into their business, however there is room to improve. We suggest that more small businesses seek information and advice to ensure they adopt the right technology solutions for their business,” said Bryan.

Reflecting the tech-savvy nature of many Malaysian small businesses, eight in ten earned revenue from online sales and 62.5 per cent received more than 10 per cent of their sales through digital payment options such as Grabpay, Alipay and iPay88.

Given the impact of COVID-19, it’s not surprising that of those that sought external finance in 2021, close to 55 per cent sought it for business survival and nearly half found that accessing finance was challenging.

Malaysia is also the only market where businesses found it more difficult than easy to pay their debts in 2021. These solvency problems are expected to continue this year with Malaysian small businesses again more likely to expect difficulty repaying debt than easy repayment conditions.

Despite facing a difficult 2021, during which Malaysia’s small businesses were more likely to report that they shrunk than grew, most are bullish about their expected performance this year. Just over 66 per cent of businesses expect to grow, which is higher than the survey average of 61.9 per cent.

Read CPA Australia’s Asia-Pacific Small Business Survey 2021-2022

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 170,000 members in over 100 countries and regions, including more than 10,500 members in Malaysia. CPA Australia has been operating in Malaysia since 1956 and opened our Malaysian office in 1994. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

#CPAAustralia

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

Masan High-Tech Materials’ Tungsten production hits record highs

HANOI, VIETNAM – Media OutReach – 25 April 2022 – Masan High-Tech Materials Corporation (HNX-UpCOM: MSR, “Masan High-Tech Materials”, “MHT” or “Company”) successfully organized its 2022 Annual General Meeting of Shareholders with the theme of ‘Growth though Sustainability’ at the Melia Hanoi Hotel.

Craig Richard Bradshaw, CEO of Masan High-Tech Materials speaks at the meeting.

Craig Richard Bradshaw, CEO of Masan High-Tech Materials speaks at the meeting.

In 2021, MHT’s total Tungsten production increased by a record 97% compared to 2020, 26% of production came from recycling of tungsten scraps with 74% coming from primary supply sources including MHT’s Nui Phao in Thai Nguyen. Net Revenues were up 86% year on year at VND13,564 billion. Tungsten revenues were significantly higher due to the consolidation of H.C. Starck Tungsten Powders (“H.C. Starck”) and the higher APT price for FY2021 ($286/mtu) as compared to the same period last year ($222/mtu). EBITDA increased by 114% for 12M2021 at VND3,070 billion. Our forward order book is the strongest it has been in many years, which is positive for both sales volumes and prices.

Danny Le - Chairman of Masan High-Tech Materials.

Danny Le – Chairman of Masan High-Tech Materials.


Speaking at the meeting, Mr. Craig Richard Bradshaw, CEO of Masan High-Tech Materials said “Masan High-Tech Materials performed strongly in 2021 despite the challenges of the global Covid-19 pandemic and its subsequent impact on global supply chains and transport systems. We achieved record revenue for the year along with record tungsten production and recycling rates”.

2021 witnessed results of the successful integration with the tungsten business platform of H.C. Starck operating in Germany, Canada and China when Masan High-Tech Materials robustly carried out technology transfer, leveraging more than 100 years of experience of H.C. Starck, while at the same time promoting global business restructuring with the goal of improving operational efficiency and expanding the business and product portfolio. The HCS business contributed significantly to the overall MHT result with an EBITDA of VND 746 billion whilst the Vietnam-based businesses (Nui Phao Mining and Masan Tungsten Company) contributed VND 2,324 billion to the overall result. This result vindicates the decision to acquire the HCS business in the early stages of the Covid-19 pandemic in 2020 and sets MHT up well for the future.

Our ongoing investment in innovation and development is also delivering value with new customer-centric products specifically tailored for the electric mobility and 3D printing segments coming into the market soon. Beyond these new product ranges the team have also developed new analytical equipment which is now in prototyping stage having been patented in late 2021. In recycling, we have filed additional patent applications for a new recycling process for cobalt bearing sludges and battery black mass. This new process will enable the recycling of various hard cutting tool sludges and battery black mass with a lower environmental footprint than current recycling processes. We see this as a potential game changer for environmentally sustainable recycling of Copper, Cobalt, Nickel, Manganese, Lithium etc. from these materials.

With a strong commitment to investment in technology and innovation across all processing chains, Masan High-Tech Materials continues to dominate the high-tech materials manufacturing industry, while gaining further acclaim at both national and international levels, with 16 domestic patents, 87 international patents, 54 application patents, 40 ongoing scientific projects and 32 projects in the ideation stage.

Mr. Danny Le – Chairman of Masan High-Tech Materials shared the company’s strategic vision for 2022-2025 “In the very near future, Masan High-Tech Materials will be more than a supplier of strategic high-tech materials, partnering with disruptive consumer technology platforms to create direct-to-consumer products where tungsten is a key element. Most importantly, we envision a circular platform where we can recycle these products to drive sustainability and productivity”.

In 2022, the Company will continue to focus on recycling raw materials, implementing carbon neutrality initiatives and promoting the benefits of the circular economy. In the context of the global economic recovery after Covid-19, positive signals in the tungsten market and the shift from gasoline to electric vehicles, Tungsten prices will be likely to go up in 2022. The company expects to achieve 2022 revenue of about VND 14,500-15,000 billion, pre-allocated net profit to shareholders is about VND 300 billion to 500 billion.

At the meeting the shareholders also approved the issuance of new shares under the employee stock ownership program (ESOP) at the price of VND20,000 /share, which is expected to take place in the second quarter of 2022. This incentive policy aims to recognize contributions of outstanding employees to the company. Proceeds from the issuance will be used to improve capital conditions, fund business activities, and replenish the company’s working capital.

Towards building a long-term sustainable business for Masan people and the community, Masan High-Tech Materials remains committed to ‘Growth through Sustainability’, striving to affirm its position and brand in the domestic market and area. In the future, Masan High-Tech Materials will not only be a supplier of strategic high-tech materials. We focus on research and development and cooperate with the world’s leading innovative businesses to create strategic and high-tech advanced materials. We also strive for steady improvement of our processes to meet the ever-changing needs of high-tech industry customers. Our ambitions remain on going downstream and building a global consumer business. “Instead of just supplying key materials to make smartphones, cars, planes, and submarines, Masan High-Tech Materials may one day create practical consumer products for these critical industries”, Bradshaw said.

ABOUT MASAN HIGH-TECH MATERIALS

Masan High-Tech Materials is the global leader in providing advanced tungsten materials used in key industries such as electronics, chemical, automotive, aviation and aerospace, energy and pharmaceuticals with production facilities in Vietnam, Germany, Canada and China, servicing the world. As the largest manufacturer of mid-stream tungsten products outside of China, the company has two research and development centers in Germany and Vietnam, and it is currently operating the Nui Phao polymetallic mine and a state-of-the art processing plant in Thai Nguyen province. Masan High-Tech Materials is also a globally significant producer of fluorspar and bismuth.

#MasanHighTechMaterials

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