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Korean Crime Thriller Film, MIDNIGHT, Starring Spackman Media Group Artist Wi Ha-jun of SQUID GAME, Wins Best Feature Award At The 13th UK Grimmfest Film Festival

  • MIDNIGHT, headlined by Spackman Media Group artist Wi Ha-jun of SQUID GAME, received the Best Feature Award at the 13th UK Grimmfest Film Festival
  • The Korean crime thriller film was released in Korea and online on 30 June 2021, and was streamed via Korean OTT platform TVING
  • Other than SQUID GAME and MIDNIGHT, Wi Ha-jun also starred in webtoon film SHARK: THE BEGINNING (2021) and GONJIAM: HAUNTED ASYLUM (2018) 

SINGAPORE – Media OutReach – 28 October 2021  Spackman Entertainment Group Limited (“Spackman Entertainment Group” or the “Company” and together with its subsidiaries, the “Group“), one of Korea’s leading entertainment production groups, wishes to announce that Korean crime thriller film, MIDNIGHT, headlined by Wi Ha-jun of  MSteam Entertainment Co., Ltd. (“MSteam“), a wholly-owned subsidiary of the Group’s associated company, Spackman Media Group Limited (“Spackman Media Group“), won the Best Feature Award at the 13th UK Grimmfest Film Festival.  

The UK Grimmfest Film Festival is one of the genre film festivals selected by MovieMaker Magazine, a world-renowned American publication focused on the art and business of filmmaking with a special emphasis on independent film. In the past, Korean films with distinct genres such as TRAIN TO BUSAN (2016) (directed by Yeon Sang-ho) and I SAW THE DEVIL (2010) (directed by Kim Ji-woon) had been invited.

MIDNIGHT is written & directed by Kwon Oh- seung and produced by Peppermint & Company. Spackman Media Group artist Wi Ha-jun plays the role of a serial psychopath killer in the film.

Previously, Wi Ha-jun starred in the original Korean series, SQUID GAME, the #1 show across over 90 countries including the US and Korea on Netflix. Through his role as Hwang Jun-ho, a policeman in SQUID GAME, Wi Ha-joon has emerged as an internationally recognized actor.

Other than Wi Ha-joon, MSteam also represents iconic Korean actress Son Ye-jin, who starred in hit romance drama CRASH LANDING ON YOU (2020), and top actress Lee Min-jung who won the Top Excellence Award at the 2020 APAN Star Awards.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company”), and together with its subsidiaries, (the “Group”), founded in 2011 by Charles Spackman, is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea. According to Variety, Korea was the world’s fourth largest box office market in 2019, behind only North America, China and Japan.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL’s wholly-owned Zip Cinema Co., Ltd. (“Zip Cinema”) is one of the most recognised film production labels in Korea and has originated and produced some of Korea’s most commercially successful theatrical films, consecutively producing 10 profitable movies since 2009 representing an industry leading track record. Recent theatrical releases of Zip Cinema’s motion pictures include some of Korea’s highest grossing and award-winning films such as CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), COLD EYES (2013), and ALL ABOUT MY WIFE (2012). For more information on Zip Cinema, do visit http://zipcine.com

SEGL also owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp”), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD”) sales records in Korea. For more information on Novus Mediacorp, do visit http://novusmediacorp.com.

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films”) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title).


The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures”) which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release GUARDIAN (working title) in 2021 tentatively.


The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content”) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.


The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. We release all of our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL”). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Lee Min-jung, Ko Sung-hee), UAA&CO Inc. (Song Hye-kyo, Yoo Ah-in, Park Hyung-sik), Fiftyone K Inc. (So Ji Sub, Ok Taec-yeon), SBD Entertainment Inc. (Son Suk-ku), and Kook Entertainment Co., Ltd. Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company.

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency”). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory”) and Platform Media Group Co., Ltd. (“PMG”), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company owns a 100% equity interest in Frame Pictures Co., Ltd. (“Frame Pictures”). Frame Pictures is a leader in the movie/drama equipment leasing business in Korea. Established in 2014, Frame Pictures has worked with over 25 top

directors and provided the camera and lighting equipment some of Korea’s most notable drama and movie projects including ITAEWON CLASS (2020), HOW TO BUY A FRIEND (2020), KIM JI-YOUNG, BORN 1982 (2019), FOUR MEN (2019) and ASADAL CHRONICLES (2019).

We also operate a café-lounge called Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, do visit http://www.spackmanentertainmentgroup.com/

#SpackmanEntertainmentGroup

Laos Confirms 530 New Cases of Covid-19

Covid-19 Update

Laos has recorded 530 new cases of Covid-19 across the country today.

New Survey Reveals Changing Health Priorities Among Asia Pacific Consumers

HONG KONG SAR – Media OutReach – 28 October 2021 – A new survey examining the awareness and usage of nutritional supplements in the Asia Pacific region revealed that four out of five consumers in believe their health is a “work in progress,” and 86% have been taking steps to improve their health in the past year.

These findings are part of a survey conducted on behalf of Herbalife Nutrition and the Council for Responsible Nutrition among 3,000 consumers in Indonesia, Japan, Malaysia, Philippines, Singapore, and Vietnam.

 

The shift to better health goals and priorities was accelerated by the pandemic, with over half (51%) of respondents saying that they are eating healthier and supplementing their diet with vitamins and minerals. In addition, 41% put more emphasis on holistic health across mental, physical, and social needs, and 35% are focused on attaining smaller and more manageable goals.

 

But while consumers are incorporating more vitamins and supplements into their diet, only 33% said they feel very knowledgeable about the health benefits those can offer. The respondents cited they are most likely to get information about vitamins and supplements from online sources (39%) and their doctor (25%). Regardless of where they currently get information, 80% would like to know more about the benefits of different vitamins and supplements to support their health.

 

“Consumers are increasingly taking wellness matters into their own hands and seeking quality supplements that add essential nutrients to their diets. With the wealth of information online, it’s important that they have credible information about the proper use and benefits of nutritional supplements to enhance their health and wellness journeys,” said Stephen Conchie, Senior Vice President and Managing Director, Herbalife Nutrition Asia Pacific.

 

He added, “When selecting from a vast array of options, take time to explore the brand’s level of testing of their ingredients, the third-party verifications (such as NSF and ISO), and their manufacturing transparency. Sourcing is one critical area in ensuring that your supplements, vitamins, and other nutritional products are created with the utmost care.”

 

Vitamins, supplements part of nutrition regime for many consumers

Nutritional supplements are becoming a common addition to the Asia Pacific dietary regime with seven in 10 (70%) consumers taking vitamins and supplements on a weekly basis, with 67% of them taking between one or two products each time.

 

When asked for their preferred timing to consume the vitamins and supplements, the top three responses are:

  • In the morning, all at one time (34%)
  • After a meal (22%)
  • At different times throughout the day (21%)

 

Top reasons for consuming and interest in vitamins and supplements

When asked for reasons on why they are interested in vitamins and supplements, the most common responses are:

  • To support general immunity (59%)
  • For general health and wellness (44%)
  • To support digestive health (33%)
  • For skin health, hair, or beauty (30%)
  • To improve energy and focus (27%)

 

About Herbalife Nutrition Ltd.

Herbalife Nutrition (NYSE: HLF) is a global company that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers high-quality, science-backed products, sold in over 90 countries by entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company’s global campaign to eradicate hunger, Herbalife Nutrition is also committed to bringing nutrition and education to communities around the world.

For more information, please visit IAmHerbalifeNutrition.com.

#HerbalifeNutrition

Purchase Arlo In Brand-New Online Store kaira.arlostore.sg

Enjoy free shipping within Singapore

SINGAPORE – Media OutReach – 28 October 2021 – Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, today announced its products will officially be available through the Arlo Flagship Online Store run by premium reseller Kaira Global in Singapore. This is the latest addition to Arlo’s extensive range of home security cameras, smart doorbells and accessories being offered on major e-commerce retailing platforms, which includes Lazada, Shopee, Hatchi.tech, Harvey Norman and Best Denki.

 

The pandemic has seen significant changes to the way people shop, resulting in the rising adoption of e-commerce in Singapore, and a change in consumer behaviour. To provide customers with more options, flexibility and convenience in their shopping experience, Arlo has been actively leveraging online platforms to deliver greater accessibility to its products. The Kaira’s Arlo Flagship Online Store is the latest platform to help fulfill this goal.

 

The store is aiming to provide Arlo customers with the ultimate online shopping experience, with the release of new arrivals, seasonal promotions, weekly deals, along with thoughtful product and accessory bundles. Everything customer’s need to protect and connect with loved ones for total peace of mind. Arlo premium reseller Kaira Global, also offers live online chat to help with customer inquiries, while providing technical support for installation and troubleshooting guidance.

 

Customers can easily purchase recently released Arlo smart home security products such as Arlo Pro 4 Spotlight Camera, Ultra 2 Spotlight Wireless Security Camera, Essential Indoor Security Camera and Essential Video Doorbell Wire-Free through Kaira’s Arlo Flagship Online Store, while enjoying free shipping to anywhere within Singapore. Visit the Arlo Flagship Online Store for more details.

 

For more information on the full range of Arlo smart home security products and services, visit www.arlo.com/asia.

 

About Arlo Technologies, Inc.

Arlo is the award-winning, industry leader that is transforming the way people experience the connected lifestyle. Arlo’s deep expertise in product design, wireless connectivity, cloud infrastructure and cutting-edge AI capabilities focuses on delivering a seamless, smart home experience for Arlo users that is easy to setup and interact with every day. The company’s cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a mobile connection. To date, Arlo has launched several categories of award-winning smart connected devices, including wire-free smart Wi-Fi and 4G-enabled security cameras, audio and video doorbells, and floodlight.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to supporting industry standards for data protection designed to keep users’ personal information private and in their control. Arlo doesn’t monetise personal data, provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent Arlo Technologies, Inc.’s expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding Arlo Essential Indoor Camera, Arlo Smart and future Arlo products. These statements are based on management’s current expectations and are subject to certain risks and uncertainties, including the following: future demand for the Company’s products may be lower than anticipated; consumers may choose not to adopt the Company’s new product offerings or adopt competing products; and product performance may be adversely affected by real world operating conditions. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect Arlo and its business are detailed in the Company’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

#Arlo

Big Bang Academy, a Hong Kong EdTech Start-Up Receives HKD 7-figure Seed Funding from Gobi Partners / Alibaba Entrepreneurs Fund to Revolutionize K-6 STEAM Education

HONG KONG SAR – Media OutReach – 28 October 2021 – Big Bang Academy, a Hong Kong-based STEAM education technology start-up announced the completion of HKD 7 figures seed funding investment led by Gobi Partners, including participation from family offices and experienced angel investors from a technology and private equity background.

Big Bang Academy was founded by two young University of Cambridge alumni who studied Engineering and Natural Sciences (Biological) respectively. Despite having years of working experience in large corporations, their passion in science persists. “When I was 6 years old, I learned to fix fuse problems in the electrical circuit of the TV at home. It was these positive and joyful childhood memories that inspire us to develop a life-long passion in learning. We want to recreate these “lightbulb moments” for children to become more curious, persistent learners,” said Sarah, the co-founder.

With a mission to make learning as compelling as a movie, as fun as a theme park, and as educational as a classroom, Big Bang Academy brings science to life with their award-winning STEAM e-learning app, online live classes and theme-park like learning experiences. To achieve the vision of building the next “Netflix for kids”, Big Bang Academy empowers every child to be self-directed learners through hands-on experiments anytime, anywhere. Their award-winning curriculum covers the natural sciences and engineering, with the aim to equip future leaders with the scientific skills and knowledge to solve the most pressing issues humanity face globally like climate change, global pandemic and energy shortage etc.

Big Bang Academy’s classes and content have reached over 4,000 students aged 3-12 years old in Hong Kong, Singapore, and Taiwan shortly after one year of inception. They have recorded a 300% year-on-year growth in revenue and are trusted by top schools and corporates such as Malvern College Hong Kong, K11 Musea, Consulate General of France in Hong Kong and Jockey Club Hong Kong.

Chibo Tang, Managing Partner of Gobi Partners said, “We’re excited to be working with Big Bang Academy as their innovative approach leads a new age of hybrid learning for kids and provides a necessary platform for them since the pandemic changed the way children are learning.”

The company intends to use the funds in advancing their product development, including AI-enabled personalized learning technology, enrichment of the educational content library, and research & development for home experiment kits.

“Especially during the pandemic season, we have experienced a surge in demand from parents in Asia for an effective and engaging education model which combines both online and hands-on elements. It can not only stimulate children’s curiosity, but also provide tangible learning outcomes,” said Nixon, the co-founder. Moving forward, the company plans to partner with top international education institutes and experts to create accredited content to further strengthen the overall learning quality and effectiveness. 

About Big Bang Academy

Big Bang Academy is an edtech media start up revolutionizing online STEAM education for children of 3-12 years old by making STEAM self-learning accessible, engaging and effective.

Big Bang Academy’s program has received accreditation from STEM.ORG, the longest standing STEM education research organization in the US. Inspired by international curricula such as the Next Generation Science Standard (US), Cambridge Assessment Science (UK) and the IB, Big Bang Academy’s curriculum covers a wide range of science topics from the galaxy to viruses, the gravitational force to chemical reactions.

Since inception in 2020, Big Bang Academy’s classes and content have reached over 4,000 students in Hong Kong, Singapore and Taiwan.

Stay up to date at www.bigbangacademyhk.com

Company: https://www.bigbangacademyhk.com/

Facebook: https://www.facebook.com/BigBangAcademyHK

Instagram :https://www.instagram.com/bigbangacademyhk/

Linkedin: https://www.linkedin.com/company/bigbangacademy

#BigBangAcademy

About Big Bang Lab

Big Bang Lab is an award-winning STEAM e-learning platform empowering every child to be self-directed learners through hands-on experiments anytime, anywhere.

Crafted by educators and scientists from University of Cambridge, Big Bang Lab promotes effective learning with movie production interactive content and curriculum-aligned quizzes. With a DIY STEAM kit delivered to your door, Big Bang Lab offers one of a kind online-to-offline blended learning for the next generation of scientists, engineers and innovators.


Try for free at bigbanglab.app

NTUC Income Makes First Foray Overseas, Offers Insurance-as-a-Service in Southeast Asia

Promises strategic local insurance partners new insurance business models and speed-to-market to capture digital-first consumers for growth

SINGAPORE – Media OutReach – 28 October 2021 – NTUC Income (Income), a leading composite insurer in Singapore, today made its first overseas foray into three Southeast Asian markets through strategic partnerships with PT Central Asia Financial (JAGADIRI) in Indonesia, Post and Telecommunication Joint Stock Insurance Corporation (PTI) in Vietnam and VSure Tech Sdn. Bhd (VSure) in Malaysia.

 

Income’s CEO Andrew Yeo and CDO Peter Tay at a Virtual Strategic Partnership Agreement Signing Ceremony with partner representatives – Reginald Hamdani, CEO, JAGADIRI; Bùi Xuân Thu, CEO, PTI and Eddy Wong, CEO and Co-founder, VSure

 

 

These strategic alliances are built on Income’s Insurance-as-a-Service (IaaS) model that enables the company to bring digital-first insurance business models to partners overseas, enhance their speed-to-market, and equip them with the right capabilities and tools to capture new customer segments and revenue streams.

Partners will also be able to leverage Income’s strong brand reputation and track record in digital product innovation to support market roll-out, as well as its technology know-how and connectivity with digital ecosystems for greater agility to innovate at scale to meet consumers’ changing needs.

Since the start of the COVID-19 pandemic[1], 70 million people in Southeast Asia (SEA) have become digital consumers and are making online purchases more than before. Almost 80% of the population in SEA is projected to become digital consumers by end 2021, signalling strong demand for digital consumption in the region.

The market size for digital insurance is also projected to reach US$7.6 billion by 2025[2], with digital financial services taking off in SEA in a way that is exciting for both consumers and businesses. More significantly, the acceleration of digital consumption is showing no signs of abating, with nine in 10 new digital consumers intending to continue using digital services in the future[3].

 

Andrew Yeo, Chief Executive Officer, Income said, “Our foray overseas opens a new chapter of growth for Income and is a natural next step in our strategic growth plan. The market potential of countries like Indonesia, Malaysia and Vietnam is huge given their relatively young populations and high mobile penetration rates. Considering their large geographical distribution areas, I believe that these markets are especially primed for new digital insurance propositions that are enabled by technology. The diversity of our regional partners is a testament to the value of our IaaS model and more significantly, signals that Income is well placed to work with any partner in Asia.”


Yeo added, “As a born and bred insurer in Singapore, we understand that homegrown businesses know their local consumers best, hence the partnerships are a win-win for us. By forming strategic alliances with like-minded local partners, it allows us to understand the demands of Asia’s digital-first population first-hand, scale our offerings quicker through our partner ecosystems, and most importantly, better relate insurance to customers and make insurance accessible to more. Income’s purpose is to empower better financial well-being for all, and to offer insurance access even to the underserved among us. We aim to stay committed to our cause even as we plant our flag abroad.”

 

Bringing innovative new insurance business models to overseas markets

 

Since the inception of the Digital Transformation Office (DTO) more than four years ago, Income has been innovating and rolling out new insurance business models such as micro-insurance (SNACK), subscription insurance (TRIBE) and usage-based insurance (Milesurance, Gigsurance and Freightsurance).

These propositions bring to market a new way of engaging with, and consuming insurance that is embedded in customers’ lifestyles. This calls for a shift in conventional insurance mindset and appetite for unprecedented risks, alongside a new appreciation for data, insurtech and an iterative approach to product design and roll-out.

Peter Tay, Chief Digital Officer, Income said, “As we bring new insurance innovations to the market, we are able to fold our experience and learn from reimagining insurance across the value chain into an Insurance-as-a-Service model. Our regional partners recognise the immense competitive advantage that comes with the model as Income grows our digital ecosystem and continues to evolve our way of working with ecosystem partners, be it in Singapore or regionally. The IaaS model, thus, plays to our strength as a digital insurer, connecting partners with the right capabilities, technology know-how and innovative insurance models to transform and scale their business models efficiently.”

 

Tay added, “JAGADIRI, PTI and VSure are well-respected brand names in their respective markets. We are honoured to have them onboard our IaaS model and look forward to bringing more ground-breaking insurance propositions to delight customers and plug the protection gaps in these markets. Whether it is through our borderless and modular plug-and-play application program interface (API) microservices, product innovations, seamless customer journey design or dynamic pricing capabilities, we are confident that the IaaS model will not just complement, but value add to partners’ existing solutions and strengthen their value propositions in the insurance, broker or insurtech arenas.”

 

Partnering homegrown businesses to cater to the needs of the local market

 

As part of Income’s strategic partnerships with JAGADIRI, PTI and VSure, these companies will be the first in Indonesia, Vietnam and Malaysia to launch Droplet respectively across four cities including Greater Jakarta, Hanoi and Ho Chi Minh City, as well as Kuala Lumpur.

 

Droplet is a first-of-its-kind micro-insurance product that is designed to address a major pain point of consumers in Southeast Asia – price surges on ride-hailing platforms during rainy days.

 

In 2020, the total market value of ride hailing in SEA was estimated to be at US$11billion[4], with Indonesia leading (US$5 billion) the pack, followed by Singapore (US$2 billion), Vietnam (US$1.6 billion) and Malaysia (US$1.1 billion). With the total value of the ride hailing market in SEA projected to increase by almost four times to US$42 billion by 2025, this tremendous demand for ride-hailing services among Southeast Asians has given rise to the need for “rainsurance” like Droplet to protect consumers financially against price surges on these platforms, particularly during the monsoon season. 

 

“Technology-enabled lifestyle has opened up real opportunities for insurance solutions. The ride-hailing phenomenon and the launch of Droplet are cases in point. We are bullish about lifestyle-embedded insurance propositions such as Droplet and will continue to take inspirations from lifestyle pain points of consumers in Singapore, Indonesia, Malaysia, Vietnam, and beyond to drive innovation, co-create digital-first insurance products and customer journeys for more people regionally,” enthused Peter Tay.

 

For more information, visit droplet.sg.

 

Appendix A – Quotes by Partners

“JAGADIRI is one of the pioneers of e-commerce insurance in Indonesia and we are very proud to collaborate with NTUC Income from Singapore. We believe that this very strategic partnership can provide innovative technology-based insurance solutions for the people of Indonesia.

 

For the first time in Indonesia, we are introducing such a novel proposition, Droplet, also known as JAGA HUJAN, as part of our “lifestyle-based insurance” which is designed to provide protection against price hikes when consumers use ride-hailing during rainy days. This partnership allows for flexibility to adapt Droplet for local consumption such that consumers in Indonesia can also get insurance protection, so they feel safe when on the road. We hope this collaboration will be the beginning of more technology-based innovative insurance products to come.”

 

Reginald Hamdani,

JAGADIRI CEO

For more information: www.jagadiri.co.id

 

“We see great synergy in what Income’s Digital Transformation team (DTO) is doing when it comes to innovation in insurance, which is similar to PTI Digital’s approach on Digital and Micro insurance. We are excited to bring Droplet’s unique proposition, which has been successfully implemented in Singapore, to Vietnam. The end-to-end product and technology offering, from price risk calculation to purchase flow and claims processes, fits perfectly with the vision of PTI in developing innovation in micro-insurance that fits the lifestyle of our customers.”

 

Bùi Xuân Thu

PTI, CEO

For more information: www.pti.com.vn/en/home.html

 

“We are delighted to be able to partner with NTUC Income to bring a new type of digital insurance offering to mass Malaysians through Droplet. This solution and its potential impact strongly resonates with VSure’s identity as an On-Demand Lifestyle Digital Insurer and is synonymous to our vision to continuously bring innovative and affordable protection coverage to the masses.

 

Malaysians are no strangers to rain, and we believe protection against ride hailing pricing surge during rainy days is a great example of insurance reimagined to be palatable for the consumers and their modern lifestyles of today. We are thrilled to be able to be the partner that brings Droplet into Malaysia, which serves as another way to educate the underserved Malaysian communities about the vitality of staying protected, through bite-sized protection plans that suits the needs of their active and diverse lifestyles.

 

This partnership means a great deal to VSure, as it marks the beginning of two companies with similar goals working together to make insurance even more accessible and relevant to the Southeast Asia markets.

 

Our collaborative partnership with Income will not stop here, and we will eventually flourish into many other joint innovative and novelty protection propositions into the Malaysia market. We firmly believe in this cross regional collaborative model will move forward and evolve our future of protections to the masses, which create a whole new suite of protections for modern lifestyles.”

 

Eddy Wong

VSure, CEO AND Co-founder

For more information: https://www.vsure.life/

NTUC Income

NTUC Income Insurance Co-operative Ltd (Income) is a leading composite insurer in Singapore, serving more than two million policyholders. Our ambition is to protect every life and every home by making insurance simple, accessible and personal for individuals from all walks of life.

Income’s innovative, data-driven and omni-channel approach puts us at the forefront of customer-centric solutions to meet rapidly evolving needs and help empower better financial well-being.

Income was established in 1970 and remains the only insurance co-operative in Singapore. Our financial strength and diversified investment portfolio is reflected by our strong credit rating which underpins the delivery of our commitment to customers.

For more information about Income, visit www.income.com.sg

#NTUCIncome

PT Central Asia Financial (JAGADIRI)

PT Central Asia Financial (CAF), which is part of the Salim Group, received a license to operate from the Financial Services Authority (OJK) on March 13, 2013. In running its business, CAF is committed to the principle of direct selling, which focuses on digital marketing, telemarketing and community marketing. On January 27, 2015, CAF launched the JAGADIRI brand as one of the pioneers of e-commerce insurance in Indonesia that provides Instant Protection (instant and immediate protection), Claim Certainty Process (guarantee of claim acceptance) and Best Transparent Price (affordable and transparent costs). JAGADIRI innovates by providing insurance products through the mobile friendly website www.jagadiri.co.id.

Supporting the trend of financial digitization, JAGADIRI wants to answer customers’ needs by providing innovative and relevant insurance solutions by reaching them closer, faster and easier. JAGADIRI’s hassle-free insurance prioritizes customers’ convenience and protection needs, supported by digital technology. Customers can buy insurance products at affordable prices starting from Rp5,000.00 without having to meet an agent. The process only takes less than 5 minutes, and payments can be made directly online. Insurance claims can also be made easily online through JAGADIRI’s self-serve website, where payment status and customer claims can be viewed in real time.

Post and Telecommunication Joint Stock Insurance Corporation (PTI)

PTI is one of the three largest non-life insurance companies in Vietnam. PTI is an enterprise that always maintains consistently high growth, affirming its place as the No.1 leading company in the market for motor vehicle insurance, and No. 2 for health, critical illness and personal accident insurance.

PTI has constantly been adopting technology to develop products and services that offer customers the best experience. PTI has received the Certificate of B ++ financial capacity rating from the world’s largest financial credit rating agency A.M.Best and is also an enterprise that Vietnam Report cooperates with other Professor Harvard University – US ranked as TOP 500 Vietnam’s largest enterprises (VNR500)

VSure Tech Sdn. Bhd (VSure.life)

VSure is Malaysia’s first on-demand lifestyle digital insurer approved by the Central Bank of Malaysia under the Fintech Regulatory Sandbox Framework.

VSure is a full stack digital insurer with full suite of capabilities ranging from regulatory and licensing agility, product innovation, design and underwriting, go-to-market and end-to-end customer experience management.

VSure reimagines and transforms how insurance protection is done. Our mission is to provide everyone with access to affordable and transparent products, on-demand protection for modern lifestyles in a simple & innovative way and sharing our expertise with governments and regulators to drive socio economic empowerment, adequate protection, and better financial resilience for the masses.

VSure aims to be the leading digital insurer in Southeast Asia focusing on usage-based protection wrapped around modern lifestyles. VSure also provides value-add proposition for businesses via curation of bespoke products and services.

Founded in 2018, VSure takes pride in celebrating the evolving modern digital lifestyles of customers by continuously reimagining protection to be more accessible, envisioning a future where protection is inclusive and becomes second nature for everyone.

VSure is continuously pushing the needle to drive positive applications of its product and services, expanding the boundaries of tech for good through VSure’s own charity virtual event series in which proceeds goes to impactful social welfare organisations.

Wavemaker Partners launches first-of-its-kind climate tech venture builder in SE-Asia, with US$25M target for its first fund

Wavemaker Impact will join forces with proven tech and sustainability entrepreneurs in Southeast Asia to reduce global carbon emissions by 10% by 2035

SINGAPORE – Media OutReach – 28 October 2021 – Wavemaker Partners has launched Wavemaker Impact, a first-of-its-kind climate tech venture builder in Southeast Asia, targeting to raise US$25 million for its first fund. Climate change is an existential threat for the region, with three of its largest cities facing the threat of being underwater by 2050. The founders of Wavemaker Impact believe that entrepreneurs will drive solutions to climate change and aim to launch companies that will reduce 10% of global emissions by 2035.

 

Caption: Founding members L-R: Quentin Vaquette, Doug Parker, Marie Cheong, Paul Santos, and Steve Melhuish.

The founding team at Wavemaker Impact comprises veterans that have invested in and helped build over 35 sustainability startups, and have stellar track records in growing successful and scalable businesses. They include Steve Melhuish, PropertyGuru founder and impact investor; Doug Parker, ex-COO of Nutonomy; Paul Santos, Managing Partner of Wavemaker Partners in Southeast Asia; and Quentin Vaquette and Marie Cheong, who built more than 10 climate tech startups during their time at ENGIE Factory, the Asia-based venture arm of a global low-carbon utility.

 

Tapping on the Wavemaker platform, Wavemaker Impact entrepreneurs will have access to a network of global investors, advisors, and corporate partners.

 

According to Marie Cheong, “With existing technology, we already have the solutions to cut global carbon emissions by 50%, but we need to create incentives to disrupt traditional businesses, change behavior, and drive adoption.”

 

Wavemaker Impact has identified high-growth and scalable opportunities in climate change with a total potential market worth S$2.7 trillion in Southeast Asia alone, and is looking for investors, entrepreneurs, and founders to join them in their rapid decarbonization efforts.

 

Cheong outlines the role that Wavemaker Impact is playing: “A lot of entrepreneurs want to make an impact, but don’t know where to start and that’s where we come in.”

 

Steve Melhuish elaborates on their way of working: “Unlike other climate funds, we don’t just write checks—we roll up our sleeves and co-found these businesses, helping identify the biggest opportunities, acquire the first customers, develop scalable business models, build product prototypes, and build the best teams.”

 

The Wavemaker Impact team has already identified over 50 opportunity areas with the potential to reach US$100 million in annual recurring revenue and abate 100 million metric tons of carbon at scale—what they call ‘100 x 100 companies’. These high-growth opportunities present themselves in sectors like land use and carbon sinks, agriculture and food, industrial processes, and energy. The team aims to target the biggest sources of carbon emissions in Southeast Asia—where significant impact is possible.

 

Launching a climate-focused fund is a natural move for Wavemaker Partners, as the firm itself is committed to sustainability, with a number of initiatives over the last 18 months. The VC launched “Green Wave” last year to help the Wavemaker team and its community become more sustainability-focused—some of the efforts taken under the initiative include going carbon neutral, mapping its portfolio of startups against the UN Sustainable Development Goals, and running sustainability workshops for founders.

 

Paul Santos adds, “We know what successful ventures look like in Southeast Asia and we have the expertise. We are all set to go. All we are looking for is like-minded people to join us on this exciting journey.”

About Wavemaker Impact

Wavemaker Impact is a climate tech venture builder that co-founds sustainability-focused businesses in Southeast Asia with proven entrepreneurs. It aims to rally individuals, investors, and businesses who care about the planet, and want to make a rapid, tangible change in the reduction of carbon emissions.

https://wavemakerimpact.com/

#WavemakerImpact

About Wavemaker Partners

Wavemaker Partners is Southeast Asia’s go-to VC firm investing in enterprise and deep tech startups. Since 2012, it has backed 140+ companies, of which 120+ (85%) are in enterprise and deep tech. The firm has US$180 million in AUM across three funds in the region and has seen 10 exits valued at close to US$700 million. Today, 70% of Wavemaker’s active portfolio startups in Southeast Asia are aligned with at least one UNDP Sustainable Development Goal.

https://wavemaker.vc/sea/

Residents Dissatisfied with Strict Lockdown in Luang Prabang

Residents of Luang Prabang dissatisfied with strict lockdown
A blockade in Luang Prabang during lockdown (Photo: Anita Preston / Evensong Film)

Residents in Luang Prabang are dissatisfied with the city’s strict lockdown restrictions, which see supermarkets and food delivery services closed.