• A new study by MoneySmart finds that over half (52%) of adults living in Hong Kong SAR and Singapore now turn to social media as their primary source of financial advice, with YouTube emerging as the most popular platform.
• The study explored the growing role of social media in shaping financial decisions, with a focus on how it influences decisions around investing, saving, and spending.
• Nearly three in five (63%) now seek investment advice from social media, showing the platform’s growing role in guiding investment decisions.

SINGAPORE, Jan. 15, 2025 /PRNewswire/ — A newly released study by leading personal finance portal MoneySmart reveals that social media has become a dominant source of financial information, influencing key decisions around investments, savings and spending habits.

The study, which interviewed 2,000 adults in Hong Kong SAR and Singapore, found that more than half (52%) now rely on social media as their main source of financial advice, trumping the likes of family and friends, financial advisors, and personal finance books. Platforms such as YouTube, Instagram and Facebook emerged as the most popular for accessing financial insights.

Nearly half (43%) of those surveyed believe social media has improved their financial knowledge, with 19% using it daily to seek financial tips and advice. According to the study, Millennials are the generation most frequently turning to social media for financial advice, with 53% seeking information at least weekly.

The most popular topics across all age groups include investing (59%), saving (57%) and budgeting (34%).

Social media is shaping our financial behaviour and investments

In today’s digital age, financial information is more accessible than ever, with social media empowering individuals to take a more proactive approach to managing their finances. Nearly a quarter (23%) have changed their spending habits due to social media, with 30% starting a budget, 16% initiating an emergency fund and 11% increasing their retirement savings contributions.

Interestingly, regional preferences emerged, highlighting unique usage patterns in Singapore and Hong Kong SAR. YouTube stands out as the most popular platform for financial advice in both markets, reflecting the possible appeal for video-based learning. However, platform preferences diverge beyond YouTube, with TikTok gaining popularity in Singapore as a hub for short-form financial content, while Whatsapp and LIHKG forums resonate more with Hong Kongers for community-driven discussions.

This diversity in platform usage underscores the importance of adopting tailored strategies to engage and educate consumers effectively across different markets.

Beyond habit shifts, social media is also encouraging Singaporean and Hong Kong SAR adults to make substantial financial decisions. Nearly a quarter (24%) have opened a savings account, while 18% have applied for a financial product such as a credit card or loan due to social media advice.

Investments, in particular, were heavily influenced by social media, with 37% of respondents making investments based on advice seen online, with popular choices including US stocks (45%), bonds (24%), etc. This illustrates how recommendations on social media are actively shaping financial behaviour and underscores the importance of ensuring that consumers are equipped with the skills needed to assess the credibility of financial advice online.

The financial risks of social media

While social media provides broader access to financial information, the study reveals significant risks tied to unverified advice.

Alarmingly, almost 1 in 5 (18%) respondents lost money on investments influenced by online advice, and a further 14% fell victim to financial scams after following social media recommendations. Among those who followed social media advice, 9% reported substantial financial losses. These findings underscore the serious consequences of following poor or even malicious financial advice on social media, with many suffering direct financial losses that could have a lasting impact on their overall financial security.

Adding to these concerns, 70% of respondents encounter financial advice passively through their social media feeds, suggesting that they may be influenced by financial content even when they’re not actively seeking it.

Additionally, a number (12%) of respondents reported feeling more confused or overwhelmed by the sheer volume of financial information on social media, highlighting the need for better guidance. These findings emphasise the real dangers of unverified advice and the critical importance of seeking reliable financial guidance from trusted sources.

Abel Lee, General Manager at MoneySmart Singapore and Hong Kong commented, “Our study reveals a significant shift in how consumers approach financial advice, with social media now taking the lead over traditional sources. While it’s encouraging to see more individuals engaging with their finances, it’s crucial to ensure the credibility and accuracy of the information they rely on. At MoneySmart, we go beyond just connecting consumers to personal finance products through our marketplace. With resources like our blog and licensed insurance specialists, we are committed to providing well-researched advice and practical guidance to help people make sound financial decisions — whether it’s investing, saving, budgeting, choosing the right credit card or loan, or selecting an insurance plan.”

“While social media has made financial advice more accessible, it also comes with risks from unverified sources. In a landscape where unverified advice is prevalent, our focus is to empower individuals with the tools, trusted guidance, and personalised recommendations they need to make informed decisions that lead to positive outcomes,” said Lee.

How to spot poor financial advice and make smarter investment decisions

As financial hubs, Hong Kong SAR and Singapore face shared challenges and opportunities when navigating financial advice on social media. Insights from industry experts in both markets, including Ethel Yow, APAC & ME Social Media and Content Manager at IG Markets and Joe Yu, Chief Marketing Officer at Futu Securities, provide actionable tips to help consumers make informed decisions while avoiding common pitfalls.

1. Be cautious of bold claims
   Ethel and Joe advise being wary of financial advice that promises guaranteed returns or “risk-free” investments, often framed as clickbait such as “100% win rate strategy” or “How to become a profitable trader.” Sensational headlines are designed to attract attention, but credible sources will offer balanced insights about both potential returns and risks.
2. Verify the information
   Social media is largely unregulated, meaning anyone can post financial content regardless of expertise. Ethel recommends cross-checking advice with reputable financial news outlets, official company reports, and licensed financial advisers, while Joe suggests a three-pronged approach: verify the source, consult multiple sources and assess the information’s timeliness. Seeking professional advice and carefully evaluating risks are essential steps before making significant financial decisions.
3. Understand the risks
   Social media offers real-time market sentiment and a variety of investment ideas, which can broaden perspectives. However, Joe warns that emotional triggers like FOMO (fear of missing out) can lead to impulsive decisions that often do not align with sound financial planning.
4. Balance short-term excitement with long-term goals
   To avoid focusing solely on short-term returns, limit speculative investments to a small portion of your portfolio while balancing them with more stable assets like index funds or bonds. Both experts recommend setting clear financial goals, creating a budget, diversifying investments and regularly reviewing your portfolio to maintain long-term financial stability.
5. Do your own research and use trusted platforms
   Independent research is critical to understanding the risks, potential returns, and suitability of an investment. Joe emphasises the importance of choosing regulated brokerages, such as those licensed by the SFC in Hong Kong, for secure and transparent transactions. Trusted platforms offer reliable tools and resources that support informed investment decisions.
6. Stay alert to scams and avoid herd mentality
   Both Ethel and Joe highlight the risks of scams impersonating legitimate entities, such as investment platforms or financial influencers. Always verify the authenticity of information and social media links before acting. Avoid blindly following trends without assessing risks, as impulsive decisions can lead to significant losses.

For more advice on making informed financial decisions, including investing, and to explore the full findings of the study, please visit:

Hong Kong SAR (EN):
https://www.moneysmart.hk/en/online-brokerage/social-medias-influence-on-financial-decisions-ms

Hong Kong SAR (ZH):
https://www.moneysmart.hk/zh-hk/online-brokerage/social-medias-influence-on-financial-decisions-ms

Singapore:
https://www.moneysmart.sg/online-brokerage/social-medias-influence-on-financial-decisions-ms

-ENDS-

For all media enquiries, please contact:
Jasmine Hong
Communications Manager, MoneySmart Group
jasmine.hong@moneysmart.com

Survey Methodology

Research conducted on behalf of MoneySmart by Savanta among 2,000 Singaporean and Hong Kong SAR adults (aged 18+). The survey was carried out online between 2 – 7 October 2024.

About MoneySmart Group

MoneySmart Group is a leading personal finance group in Southeast Asia, encompassing two dynamic brands: MoneySmart and Bubblegum. Bringing together these brands to offer a comprehensive range of financial products, knowledge and advice, MoneySmart Group is dedicated to empowering consumers with clarity, confidence and control over their financial future.

MoneySmart serves as a financial marketplace and content platform for consumers to make informed decisions across a variety of banking, insurance and investment products. We do the hard work of compiling the information and sharing advice to make it easy for you to understand, compare and choose the best personal finance products for you. Our SmartRewards programme also enables customers to earn points on transactions that can be redeemed for rewards.

Under our Bubblegum brand, we create desirable insurance products and experiences, aiming to become the leading digital insurtech brand of the future.

For more information, please visit www.moneysmart.com.

Celebrating exceptional leadership in the global supply chain industry

SINGAPORE, Jan. 15, 2025 /PRNewswire/ — Alcott Global proudly announces the launch of the 2025 edition of the annual Leaders in Supply Chain Awards, which recognize outstanding leadership in the global supply chain sector. The awards ceremony will be conducted virtually in September 2025.

The event, organized by esteemed executive search firm Alcott Global, acknowledges leaders’ achievements in digitizing operations, advancing sustainability and decarbonization efforts, and fostering diverse and equitable work environments for supply chain teams.

Supply chain professionals and executives worldwide are invited to nominate individuals who have contributed significantly to their organizations in the past year.

The nominations will be accepted until February 28th, 2025.

To qualify as an eligible nominee for the Top 30 Supply Chain Leaders of 2025, participants must hold regional or global roles for 18 consecutive months, encompassing end-to-end supply chain responsibilities in manufacturing companies with revenues exceeding USD 500 million.

Following nominations, eligible candidates will be invited to submit detailed case studies demonstrating their leadership philosophy, digital transformation successes, environmental and social impact initiatives, and diversity breakthroughs.

Industry icons and thought leaders from around the globe will evaluate case studies and performance metrics to identify this year’s top leaders. The jury members will review the case studies the eligible nominees submit, and their evaluations will contribute 75% of the total score. Over 2,000 C-level executives will be invited to vote to determine the remaining 25% of the score. This approach ensures impartiality in the evaluation process and measures the nominees’ impact in the industry beyond their organizations.

“Our event fosters cross-industry knowledge exchange, delivering valuable insights for professionals while celebrating the visionaries who inspire, innovate, and push for excellence in supply chain,” said Radu Palamariu, Group CEO at Alcott Global.

For the 2024 edition, we received nominations for 302 exceptional Supply Chain Leaders representing 257 distinguished companies, surpassing the 2023 edition. We anticipate even greater participation in 2025.

The 2025 edition of the Leaders in Supply Chain Awards promises to continue the success of previous years, pushing excellence and inspiring the future through celebrating accomplished leaders’ breakthroughs, strategies, and impact.

The process of uncovering the industry leaders making a difference in 2025 and beyond is officially open. For more information and nominations, please visit the event page:

https://gala.makersmovers.com/

LAS VEGAS, Jan. 15, 2025 /PRNewswire/ — A new smart birdfeeder from HIXXHOME and its companion app from CoolFly have been recognized by Home Digest as a Best of CES 2025 for their innovative features that enhance backyard birding.

Participating in their first CES, HIXXHOME and CoolFly demonstrated the new products outdoors with real bird visitors during the iMpact Connect Smart Home Showcase event nearby the CES venues.

House Digest named the smart bird feeder and app combination as a “top-tier product” in the recent surge of smart bird feeders that are gaining popularity, and awarded it as one of their

SEOUL, South Korea, Jan. 15, 2025 /PRNewswire/ — The Sunhak Peace Prize Committee, chaired by José Manuel Barroso, former President of the European Commission, proudly announces the laureates to be honored at the 2025 Sunhak Peace Prize Award Ceremony that takes place on April 11, 2025: Patrick Awuah Jr.(Ghana), Hugh Evans(Australia), and Wanjira Mathai(Kenya).

Patrick Awuah Jr., Founder and President of Ashesi University in Ghana, has transformed higher education in Africa. His pioneering efforts have established Ashesi University as a model for cultivating ethical leadership and innovation. With a 90% graduate employment rate and a student body comprising 50% women, Awuah has empowered a new generation of African leaders to address the continent’s most critical challenges.

Hugh Evans, Co-founder and CEO of Global Citizen, has mobilized a remarkable $43.6 billion to combat poverty and advance global development. Through his advocacy, more than 1.3 billion lives worldwide have been positively impacted, with improved access to healthcare, education, and other essential services. Evans has redefined global activism, bridging grassroots movements with systemic policy changes to tackle inequality on a global scale.

Wanjira Mathai, Regional Director for Africa at the World Resources Institute, is a leading force in environmental restoration and sustainable development. As a driving figure in the Green Belt Movement, she has spearheaded the planting of 51 million trees and leads the AFR100 Initiative, which seeks to restore 100 million hectares of degraded land across Africa by 2030. Mathai’s work integrates ecological restoration with economic empowerment, creating sustainable livelihoods and combating climate change.

In addition, the Sunhak Peace Prize Foundation’s prestigious Founder’s Award will be presented to H.E. Xanana Gusmão, a key leader in East Timor’s struggle for independence. As the nation’s first President and current Prime Minister, Gusmão has championed peace and international solidarity through initiatives such as the g7+, fostering collaboration among fragile states to overcome shared challenges.

The award ceremony will take place on April 11, 2025, at 3 PM KST in Seoul, Korea, in a hybrid format. Each laureate will receive $200,000, a medal, and a plaque.

For more information, please visit www.sunhakpeaceprize.org.

LAS VEGAS, Jan. 15, 2025 /PRNewswire/ — BLUETTI, a trailblazer in clean energy technology, unveiled three new product series—Apex, Elite, and EnergyPro—during its Breaking the Excellence brand refinement event at CES 2025. The highlight included Apex 300 and EnergyPro 6K flagship energy storage systems, reaffirming BLUETTI’s pioneering role in clean energy innovation.

“This year, we’re redefining our brand to solidify our role as a technology pioneer in clean energy,” said Illia Zahnitko, BLUETTI’s spokesman. “With the 3rd-generation product series, we aim to transform energy storage and lead the way toward a sustainable future.”

BLUETTI’s Product Era 3.0: Elite, Aplex, and EnergyPro series

BLUETTI has evolved from its early EB and AC series and entered a new product era with three new product lineups, including:

• Elite Series: Compact and portable power stations with outputs under 3kW, tailored for outdoor adventures, light RV use, and short-term home backup.
• Apex Series: Scalable off-grid power solutions delivering over 3kW power, ideal for off-grid living, commercial applications, and high-demand scenarios.
• EnergyPro Series: Professional-grade energy storage systems designed for small businesses and large households, offering dependable, long-term backup solutions.

Flagship Products: Apex 300 and EnergyPro 6K

The event spotlighted two groundbreaking products:

• BLUETTI Apex 300: A versatile off-grid solution supporting 120V and 240V loads. With an expandable capacity of up to 58kWh and a maximum output of 11.52kW, it provides personalized energy solutions for home backup, RV trips, and off-grid living. It boasts industry-leading energy efficiency and supports up to 30,720W solar input.
• BLUETTI EnergyPro 6K: An affordable home energy system that seamlessly integrates with existing solar setups, standby generators, and EV power sources. The scalable battery system offers reliable energy storage solutions for whole-home backup and energy cost reduction.

Driving Innovation Through Technology

BLUETTI also introduced its advanced tech ecosystem, comprising BLUEPEAK, BLUELINK, BLUEGRID, and BLUELIFE, which underpin its future product development. By combining innovation with sustainability, BLUETTI continues to set benchmarks in clean energy storage solutions.

About BLUETTI

Founded in 2009, BLUETTI is committed to a sustainable future by providing green and independent energy storage solutions for every household. With a strong focus on innovation and customer needs, BLUETTI has gained the trust of 3.5 million customers across over 110 countries & regions. Through initiatives like the LAAF (Lighting An African Family) Program, BLUETTI aims to bring power to millions of off-grid African families.

– The company to mark new phase of growth at Bio Campus II with the opening of Plant 5 in April

– Samsung Biologics to offer ADC services and invest in advanced development and manufacturing capabilities to better address clients’ needs

INCHEON, South Korea, Jan. 15, 2025 /PRNewswire/ — Samsung Biologics (KRX: 207940.KS), a global contract development and manufacturing organization (CDMO), today announced its latest business achievements and 2025 outlook at the 43rd J.P. Morgan Healthcare Conference, which was held in San Francisco between January 13-16.

During the main track presentation, Samsung Biologics’ CEO and President John Rim said, “Despite industry challenges, Samsung Biologics is well positioned to kick-start a new phase of growth in 2025 with the opening of Bio Campus II and launch of antibody-drug conjugate (ADC) services.” He added, “We’ll continue to invest in new modalities and technologies to better address client needs, maximizing satisfaction and ensuring the delivery of highest-quality products.”

Key business updates include:

ADC services: To address the increasing demand for ADC-based therapeutics, Samsung Biologics has commenced ADC services at its new dedicated facility. Building on the company’s expertise in large-scale antibody manufacturing and process engineering, Samsung Biologics’ service scope spans late stage discovery, development, and conjugation. Samsung Biologics recently expanded its collaboration with LigaChem Biosciences to support a series of their ADC programs at Samsung Biologics’ new dedicated ADC facility.

Opening of Japan office: To better support Samsung Biologics’ expanding global client base, the company announced plans to open a regional office in Tokyo this year. The local presence will boost Samsung Biologics ability to support and grow its increasing partnerships in Japan.

Expanded Drug Product (DP) services: As part of continued efforts to expand service offerings, Samsung Biologics is investing in pre-filled syringe (PFS) capabilities. The company’s fully automated PFS DP line will be CGMP ready by 2027.

Enhanced development capabilities: Samsung Biologics plans to better support global pharma and emerging biotech companies by investing in core development capabilities. The company is offering services incorporating new tech platforms, including S-HiCon^TM, S-Tensify^TM, S-AfuCHO^TM, and S-OptiCharge^TM, that ensure higher productivity and quality of a molecule for successful and accelerated drug development.

Capacity expansion: Samsung Biologics will mark a new phase of growth with the opening of Bio Campus II this year. Plant 5, the first facility of the new site, will be operational in April this year and bring up the total capacity to 784,000 liters. The company is also considering the construction of a sixth plant to proactively respond to the rising demand for biologics, which will increase total production capacity to 964,000 liters upon board approval.

Digital transformation: As part of efforts to maximize operational efficiency and client satisfaction, Samsung Biologics will continue to invest in further building its integrated digital systems spanning quality, manufacturing, and operations. Incorporating artificial intelligence and digital twin technology, the company plans to provide clients with data-enabled solutions and insight to optimize project timelines without compromising quality.

About Samsung Biologics Co., Ltd.

Samsung Biologics (KRX: 207940.KS) is a fully integrated, end-to-end CDMO service provider, offering seamless development and manufacturing solutions from cell line development to final aseptic fill/finish as well as laboratory testing support for the biopharmaceutical products we manufacture. Our state-of-the-art facilities are CGMP compliant with bioreactors ranging from small to large scales to serve varying client needs. Maximizing operational efficiency and expanding our capabilities in response to growing biomanufacturing demand, Samsung Biologics offers a combined 604 kL total capacity at Bio Campus I. The company launched Bio Campus II with the construction of Plant 5, which will be operational in April 2025, adding 180 kL biomanufacturing capacity. Additionally, Samsung Biologics America enables the company to work in closer proximity to clients based in the U.S. and Europe. We continue to upgrade our capabilities to accommodate our clients by investing in an ADC facility, mRNA technologies, and additional aseptic filling capacity. As a sustainable CDMO partner of choice, we are committed to on-time, in-full delivery of the products we manufacture with our flexible manufacturing solutions, operational excellence, and proven expertise.

Samsung Biologics Contact
Claire Kim, Head of Global Marketing Communications
cair.kim@samsung.com

HONG KONG, Jan. 15, 2025 /PRNewswire/ — With the start of a new year, many of us set ambitious goals to improve our health and manage our weight. While resolutions often fade, QNET’s
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