HONG KONG SAR – Media OUtReach Newswire – 1 August 2024 – Global digital innovation and software developer, PALO IT Hong Kong Limited has announced a partnership with Concept 4 Group to accelerate its sustainability efforts. By leveraging PALO IT’s Impact Tracker, Concept 4 can gain a 360° view of environmental performance to support ESG-related strategic decision-making.
Established in 2003, Concept 4 is B-Corp certified global fashion and cosmetic company offering a one-stop-shop for sourcing, designing, and developing high quality GWPs, primary and secondary packaging, cosmetics, and lifestyle products. Headquartered in Hong Kong, Concept 4 also operates in China, India, France, and the USA.
As part of the commitment to sustainability, Concept 4 embarked on their Science Based Targets initiative (SBTi) journey. PALO IT was engaged to develop a solution to optimize its ESG journey as follows:
Identifying data sources – PALO IT provided a snapshot of the current ESG maturity level, highlighting areas requiring more data, and defining KPIs in line with sustainability targets.
Ingesting data into the repository – 800 data transformation rules across 10 countries were created to manage the data inconsistency issues. Concept 4 can now calculate Scope 1, 2 and 3 emissions covering 90% of their turnover.
Building dashboards and automating processes – The dashboards include both automated (ERP, PLM) and manual functions, plus surveys for additional data. This multi-faceted view equipped the company to monitor metrics across 2,500 products and align its business with CSRD reporting frameworks.
Meeting ESG transparency demands – Concept 4 can now automate their carbon accounting process, gaining visibility across carbon subcategories. They can identify carbon reduction opportunities, and transform 200+ supplier contracts to meet client demands for ESG transparency.
Commenting on the project, Pascal Vieilvoye, CEO/ CFO & Cofounder of Concept 4, said “In today’s world, sustainability is no longer a choice, but a necessity. To shape a better tomorrow, we must recognize the value of data and the power it holds. By implementing the Impact Tracker, Concept 4 can now pave the way for meaningful action and create a sustainable future that benefits us all.”
“At PALO IT, we prioritize sustainability in every project, ensuring it adds value for our clients,” said Fabrice Bayon, Managing Director Hong Kong, PALO IT. “We not only champion innovative projects, but also make sure each initiative contributes meaningfully to our planet and society. PALO IT is proud to support Concept 4 in driving positive change through the power of tech.”
Impact Tracker is an all-in one ESG data platform to accelerate the delivery of ESG reporting. The AI-powered solution empowers organizations in measuring, managing and maximizing their impact on the triple bottom line: people, planet, profit. Hashtag: #PALOIT #Concept4 #ESG #ESGReporting #Business #ESGDataOrchestration #DataManagement #SustainableTransformation
The issuer is solely responsible for the content of this announcement.
PALO IT
PALO IT is a global innovation software developer and consultancy dedicated to helping organizations embrace tech as a force for good. We have a team of more than 650 experts across 16 offices in design, tech development and Agile who work with clients in all regions: Europe, Asia-Pacific and the Americas, to rapidly create new business models, launch innovative products and services with positive impact at their core, and prepare leadership and culture for the future.
We are proud to be B Corp-certified in Singapore, Hong Kong, Mexico, Thailand and France, and working towards certifications across all other locations. Certified B Corporations are a leaders of a worldwide movement of people using business as a force for good.
We are also honoured to be a World Economic Forum New Champion since 2021, a network of high-growth companies chosen by the World Economic Forum who are applying new business models, emerging technologies and sustainable growth strategies into every arm of their organization.
Oudet Souvannavong and Bounleuth Luangpaseuth, respectively the president and vice president of the Lao National Chamber of Commerce and Industry (LNCCI), engaged in a dialogue with Tetsuya Watanabe, president of the Economic Research Institute for ASEAN and East Asia (ERIA). (Photo supplied)
Oudet Souvannavong and Bounleuth Luangpaseuth, respectively the president and vice president of the Lao National Chamber of Commerce and Industry (LNCCI), engaged in a dialogue with Tetsuya Watanabe, president of the Economic Research Institute for ASEAN and East Asia (ERIA). The three met on 22 March as part of an ongoing effort to drive renewable energy initiatives and address the evolving energy landscape in the ASEAN region.
The dialogue highlighted Laos’ commitment to decarbonization, energy transitions, and its role in the Asia Zero Emission Community (AZEC).
ERIA’s Role in ASEAN Carbonization Challenges, AZEC Summit Highlights
ERIA is an international organization established in 2008 through an agreement among the leaders of 16 East Asia Summit member countries. The organization plays a vital role in helping to build the ASEAN Economic Community with energy being one of the key pillars of their research activities.
“We are proud to support ASEAN and ASEAN Member States.”
Watanabe: In December 2023, ERIA participated in the AZEC Leaders’ Meeting, where 11 leaders from Asian countries and Australia gathered to discuss the issue of zero emissions in Asia. Sonexay Siphandone, the prime minister of Laos, was also in attendance.
ERIA was invited to establish the Asia Zero Emission Center, whose mission is to chart pathways toward the common goal of net zero emissions. The center serves as a policy research and project platform to assist AZEC partner countries. ERIA is firmly committed to contributing to AZEC, especially in policy-focused areas. We are proud to support ASEAN and ASEAN Member States in this way.
Can you summarize Laos’ roles and challenges in ASEAN decarbonization and its commitment to the AZEC?
“Despite being a small country within ASEAN, Laos has substantial potential for green growth.”
Oudet: Laos affirmed the AZEC Leaders Joint Statement in Tokyo, committing to AZEC. This marks a significant further step for the country, which already has a long history of producing green energy through hydropower.
Tetsuya Watanabe, president of the Economic Research Institute for ASEAN and East Asia (ERIA)
Laos plans to deliver more than 25,000 megawatts of hydropower. In addition, the Lao government is promoting further development of other types of renewable energy, such as solar and wind power. As well as its role in green power generation, Laos has forests that cover 47 percent of the country. These forests play a significant role in maintaining water resources, and they also serve as a valuable carbon sink. These natural blessings give Laos substantial potential for green growth, despite being a small country within ASEAN.
Bounleuth: So far, we have focused on hydropower—small-, medium- and large-scale. Over the past decade, local investors have spearheaded development in Laos, especially in hydropower. They have been exploring alternative options, too, such as integrating solar energy with hydropower. This approach would capitalize on Laos’ abundance of reservoirs, enabling effective management of water resources across seasons, alongside the emergence of wind power.
Nam Ngum 1 Hydropower Plant (Credit: Electricité du Laos EDL Generation Public Company)
I am convinced that the sustained support and encouragement of green power development is the right path for future economic growth. This approach serves two objectives: we can export electricity to neighboring countries, while at the same time fostering the growth of various industries within Laos that utilize green power.
What are the challenges to decarbonization in the ASEAN region?
Watanabe: Achieving net zero emissions is a goal for every country in the world. That being said, the situation varies significantly in different parts of the world, such as Asia, Europe, and the United States. The biggest challenge is to ensure balance—achieving energy security and economic growth while simultaneously navigating the pathway to net zero emissions.
The situation varies significantly even within the ASEAN region. Take Indonesia for example. Out of necessity, they heavily rely on fossil fuels, so the challenge for them is to reduce carbon emissions while continuing to incorporate fossil fuels to some extent.
In Laos, the situation is quite different, as the country can rely on hydropower and utilize nature-based solutions. Because of these differences, it is essential to find solutions that recognize various pathways to achieve our common goals.
Could you provide more details on specific renewable energy initiatives in Laos, especially those with significant potential for decarbonization?
“Laos serves as an excellent model for the future of fuel.”
Oudet: We have numerous proposals for solar farms across the country, including large projects by Electricité du Laos (EDL). These initiatives are far-reaching and cover both the north and the sunnier south.
At the same time, Laos faces a number of challenges. For one, the lack of concrete legislation has deterred some potential investors. I also chair the Lao National Assembly of Commerce, which is concerned about energy security, especially as Laos haven’t established an energy security policy. This situation needs to be managed properly, and a full transition from traditional fuel sources and fossil energy to renewable energy will take time.
Oudet Souvannavong, President of the Lao National Chamber of Commerce and Industry (LNCCI)
Bonleuth: Laos has signed an MOU with a Japanese company from the Ajinomoto Group to introduce technology for developing green ammonia. The project aims to use this ammonia to produce green fertilizer for local farming as well as for export to Thailand.
Bounleuth Luangpaseuth, Vice president of the Lao National Chamber of Commerce and Industry (LNCCI)
I think this project is a good first initiative. Once this project gets off the ground, it will serve as a case study for developing green ammonia and fertilizer. As Laos is a small country, this project will have an outsized impact. Using green power for industry, agriculture, or even tourism will create a positive image that Laos can leverage.
Due to the high cost of financing in Laos, development in cooperation with foreign investors may be faster than relying solely on local businessmen or investors. To expedite the process further, we might also seek support through matching grants or soft loans from other countries. For these reasons, we believe this project holds promise for the development of Laos’ green power sector.
Watanabe: This year, Laos will host the ASEAN summit. On the sidelines of the summit, Souvannavong, the chairman of LNCCI, will host a business meeting. This presents a significant opportunity for Laos to showcase its potential not only within the ASEAN region but also to Japan, Australia, and other countries. The summit should thus help investors and businesses recognize the significant potential for cooperation with policymakers and local companies.
ERIA is working closely with Souvannavong to promote this aspect of Laos. Laos serves as an excellent model for the future of fuel.
What’s the current status of carbon credits in Laos, particularly in terms of international cooperation?
Oudet: Laos has been selling carbon credits for a number of years. One challenge that we face in doing so is that the standard requirements for carbon are high, and the standards vary by region. For instance, the requirements for Europe differ from those of other countries.
The ASEAN Business Advisory Council (ASEAN BAC) is currently developing a common ASEAN standard for carbon. This standard will enable ASEAN Member States to sell carbon at consistent rates, facilitating carbon negotiations with other countries. I believe Laos can even sell carbon credits to other ASEAN Members States; Singapore has already initiated negotiations to purchase carbon credits, as has Japan.
Bounleuth: For carbon credits, we have already signed an MOU and engaged consultants to prepare the necessary documentation, which is substantial. The requirements can be daunting, so collaborating with international consultants can expedite the process.
Watanabe: A common ASEAN-wide approach is very important for carbon requirements and verification methods. ERIA’s focus on carbon trading involves bringing together diverse experiences and knowledge. We combine ASEAN regional and international practices to harness the potential for carbon trading in Laos and the rest of the ASEAN region. Carbon credits are a touchstone issue, as the involve standards from other parts of the world and require a common approach from the ASEAN region.
What is the vision for decarbonization in Laos and the rest of the ASEAN region? Can you summarize their respective energy policies?
“It is essential to showcase pathways for green development in the region.”
Watanabe: As Laos assumes its ASEAN chairmanship, it is essential to showcase pathways for green development in the region.
Many national governments and private-sector entities outside the ASEAN region are closely observing the region’s green energy transition and progress toward a green economy. They are monitoring ASEAN as a growth center of the global economy. They are interested in seeing how ASEAN, under Laos’ chairmanship this year, will provide solutions for the green economy, in terms of both technology-led and nature-based approaches.
In response, the region needs to take an integrated approach to energy, sustainability, nature, and environmental matters, particularly in safeguarding the economy and society. I believe that if Laos’ chairmanship delivers positive messages and innovative ideas, it will leave a significant legacy for the ASEAN region.
Oudet: Laos has significant potential for development as a green economy. If we can overcome the challenges inherent in the energy transition and green development, then I believe Laos will emerge as one of the ASEAN region’s leading green-growth economies. We can establish a common policy and agenda for green growth, fostering relationships and mutual support.
Bounleuth: We need to implement pilot projects in Laos to showcase activities the country aims to promote. Presenting a practical case study to the government garners more support than just presenting theoretical ideas. We aim to establish Laos-specific models for green energy public-private partnership (PPP) and the green economy.
Can you tell us about the role and vision of AZEC and the AZEC Advocacy Group in terms of PPPs and policy knowledge-sharing within the ASEAN region?
Watanabe: As we discussed, it is important to showcase and facilitate specific projects in Laos. AZEC and the AZEC Advocacy Group can facilitate such projects. By collaborating on specific initiatives and showcasing models for green economy and green finance.
Oudet: We have two MOUs in place for the ASEAN BAC. One is a specific agreement with ERIA, and the other is for the implementation of AZEC, which also involves a Japanese business association.
Regarding AZEC, I believe the implementation involves a leading Japanese company with high technology networking with industries in ASEAN, including Laos. We hope that technology transfer or application will occur with the AZEC element. Our focus isn’t only on ASEAN but on all of Asia. This approach will bring many models for us to replicate in Laos. That is what we hope will happen.
To conclude, could we discuss expectations from Laos, ERIA, and AZEC? We would also like to talk about future collaboration, as well as expectations for working with Laos and ASEAN BAC?
Watanabe: Bounleuth mentioned using PPP model to achieve a green economy. Such a result from Laos’ ASEAN chairmanship would have a significant impact, in my opinion. So, we are working on that.
Oudet: My expectation for ASEAN and Laos is that during the chairmanship from now until next year with Malaysia, we should focus on expanding B2B networking in the green economy and related issues. We need to start implementing this in Laos, leveraging the models mentioned above and with the assistance of ERIA and the agreements we have signed in Tokyo.
Bounleuth: As Laos assumes the chairmanship of ASEAN, I would like to take this opportunity to further promote B2B networks to establish the Laos model, as I mentioned earlier. This entails initiating more pilot projects, which can help identify future champions.
[Interlocutor Profiles]
Tetsuya Watanabe
President, ERIA
Profile: Watanabe’s career includes key positions in the Japanese government, and he was appointed as the president of ERIA in 2023.
Oudet Souvannavong
President of the Lao National Chamber of Commerce and Industry (LNCCI)
Profile: Souvannavong is also a member of the Prime Minister Economic Advisory Board in Laos and a founding member of the ASEAN Business Advisory Council (ASEAN-BAC). He serves as ASEAN-BAC Chairman in 2024, as well as in 2016 and 2004.
Bounleuth Luangpaseuth
Vice president of the Lao National Chamber of Commerce and Industry (LNCCI)
Valy Phommachak (Facilitator)
Co-founder of Econox Laos, she is also an ecologist and environmental journalist.
SINGAPORE – Media OutReach Newswire – 1 August 2024 – Think SME Pte Ltd, a leading accounting and corporate service provider for small and medium-sized enterprises, is proud to announce its appointment as a Productivity Solutions Grant (PSG) vendor. This designation enables Think SME Pte Ltd to support SME business owners in Singapore by providing Xero cloud accounting software, facilitating the digitalisation of their accounting processes and enhancing overall business efficiency.
As a PSG vendor, Think SME Pte Ltd is committed to helping SMEs transition to a more streamlined and effective way of managing their finances. The Xero cloud accounting software offers a comprehensive suite of tools designed to automate and simplify financial tasks, providing real-time insights and fostering better decision-making.
PSG Grant Support
The PSG grant subsidizes up to 50% of the cost of adopting Xero cloud accounting software, making this powerful tool more affordable for SMEs. This financial support is part of the Singapore government’s broader initiative to encourage digital transformation and enhance the competitiveness of local businesses.
By leveraging PSG Xero cloud accounting software, SME business owners in Singapore can expect the following benefits:
Improved Financial Management: Real-time financial data and automated processes reduce manual errors and provide accurate financial insights.
Streamlined Operations: Automation of routine tasks such as invoicing and expense tracking frees up valuable time, allowing business owners to focus on strategic growth.
Enhanced Competitiveness: Digital transformation equips SMEs with the tools needed to stay competitive in an increasingly digital marketplace.
Think SME Pte Ltd is dedicated to empowering SMEs with the resources and support needed to thrive in today’s dynamic business environment. With the PSG grant support, adopting Xero cloud accounting software is now within reach for many small businesses, providing a clear pathway to improved efficiency and growth.
“Our dedication to client success is reflected in our proactive approach to staying updated on available grant support. This ensures that we can provide our clients with firsthand resources and information on how to facilitate their business growth.” — Nick Ang, Founder of Think SME Pte Ltd
This announcement marks a significant milestone for Think SME Pte Ltd as it continues to support the growth and digital transformation of SMEs in Singapore. By partnering with the PSG program, Think SME Pte Ltd is well-positioned to drive positive change in the local business landscape. Hashtag: #thinksme #financeservice #corporateservices #branding #marketing #financeandloan #businessloan #accounting #psgxero #xero #edggrant #mragrant
The issuer is solely responsible for the content of this announcement.
Think SME Pte Ltd, Your Partner in Business Success
Think SME Pte Ltd is a leading accounting and corporate service provider dedicated to supporting small and medium-sized enterprises in Singapore. Think SME Pte Ltd specializes in loans and finance, branding and marketing, corporate services, as well as technology and digital transformation. We are committed to helping businesses achieve greater efficiency and growth through innovative solutions.
For more information on how Think SME Pte Ltd can help your business digitalize its accounting processes with Xero cloud accounting software, please visit www.thinksme.sg or contact us at hello@thinksme.sg.
SINGAPORE – Media OutReach Newswire – 1 August 2024 – American Express’ Shop Small, a movement to galvanise the country to support local businesses, is back for the fifth year with a slew of activities for both shoppers and businesses, along with a Shop Small offer. From 1 to 31 August, eligible American Express Card Members who enrol in the Shop Small offer on the Amex app or website will get S$3 back for every S$10 spent at about 4,000 participating businesses, up to five times [1].
Mr Marlin Brown, Country Manager for American Express Singapore said, “Every year we strive to rally more support for local businesses. As Singapore celebrates its 59th National Day this year, we are casting the spotlight on a curated list of our Card Members’ favourite businesses through our new Shop Small All-Stars programme – to encourage more support for local businesses, while giving local businesses a platform to reach a wider audience.”
Shop Small All-Stars programme: Expanding local businesses’ reach locally and globally
From 26 August to 15 September 2024, the public can vote for their favourite local business on the Shop Small All-Stars programme at shopsmallallstars.com. The first 1,000 voters will receive a S$5 Grab voucher and all voters will stand a chance to win S$2,000 in cash in the grand draw [2].
The programme aims to celebrate American Express Card Members’ favourite businesses and reward the country’s top voted business in five districts and one special category: (1) Bugis: fashion and apparel, (2) Katong: cafés and bakeries, (3) Chinatown: Chinese restaurants, (4) Tanjong Pagar: Korean restaurants, (5) Telok Ayer: restaurants and bars, and (6) special category: women-owned businesses. The top voted business in the five districts will each receive a MediaCorp advertising package worth S$50,000.
The logo of the winning business within the women-owned business category will be featured on the American Express F1 ACADEMYTM livery during the race in Singapore from 20 to 22 September 2024. American Express recently announced its global partnership with F1 ACADEMY, F1’s all-female racing series, spotlighting its dedication to powerfully backing women in sport and in business; as part of the collaboration, its livery will include the logo of a local, woman-owned small business during each remaining race in the 2024 season. The 2024 F1 ACADEMY™ races are broadcasted in over 160 territories and will be streamed live globally, helping the local business to expand their reach and exposure globally.
Upskilling workshops for American Express-accepting businesses
Amex-accepting businesses are also invited to a series of complimentary workshops, produced in partnership with Enterprise Singapore, Singapore Media Academy and SME Centre@ASME. Starting in late August 2024, these workshops are designed to help upskill their employees in the areas of customer engagement, branding, marketing, communications and social media – enabling them to grow their business. This is the second year American Express has organised these workshops.
About Shop Small Shop Small is a national movement founded by American Express in 2010 in the US to ignite passion for small and local businesses, call attention to the valuable contributions they make to their communities and the economy and encourage shoppers to support them. Learn more at americanexpress.com.sg/shopsmall.
As the official insurer of NATAS Fair, Etiqa Insurance Singapore continues to be Singaporeans’ trusted travel partner through the years.
SINGAPORE – Media OutReach Newswire – 1 August 2024 – Etiqa Insurance Singapore (Etiqa) is proud to announce its continued partnership as the Official Sponsor and Travel Partner for National Association of Travel Agents Singapore (NATAS) Holidays 2024, held from 16 August to 18 August at the Singapore Expo Hall 4 and 5. This is Etiqa’s third consecutive year of partnership with NATAS in 2024, underscoring the company’s unwavering commitment to providing Singaporeans with comprehensive protection at all times.
Etiqa Insurance Singapore Celebrates 10th Anniversary with Special Offers at NATAS Travel Fair 2024
This year’s NATAS Fair also coincides with Etiqa’s 10th anniversary, highlighting the company’s enduring dedication to being with Singaporeans for the ride, serving as a trusted partner through life’s journeys.
As Etiqa celebrates this milestone, the company has expanded its presence at the fair with two booths, 4H46 and 5H02. Visitors to these booths can enjoy exclusive rewards, including a chance to win Apple products worth S$2,350 and an additional 5% off all Travel Infinite travel insurance plans with Maybank Cards. These exciting offers are part of Etiqa’s extensive lineup of activities and campaigns planned for 2024.
“We are thrilled to continue our journey with NATAS as the Official Sponsor and Travel Partner for 2024,” said Raymond Ong, CEO of Etiqa Insurance Singapore. “Over the past decade, Etiqa has remained steadfast in our commitment to safeguarding Singaporeans during their travels. Given the rising frequency of unexpected events such as air turbulence, the necessity of comprehensive travel insurance cannot be overstated. Etiqa aims to empower Singaporeans to explore the world with confidence, and this partnership reinforces our dedication to providing peace of mind and protection.”
Visit booths 4H46 and 5H02 to discover how Etiqa Insurance Singapore can enhance the travel experience with Travel Infinite, our comprehensive travel insurance product designed to meet the needs of every traveller. NATAS Holidays 2024 will be open from 16 August to 18 August between 10am to 9.30pm. Admission is free.
The issuer is solely responsible for the content of this announcement.
About Etiqa Insurance Pte. Ltd. (Etiqa Insurance Singapore)
Etiqa Insurance Pte. Ltd. (EIPL) is a life and general insurance company licensed and regulated by the Monetary Authority of Singapore and governed by the Insurance Act 1966. Having protected customers in Singapore since 1961 under the name United General Insurance Co. Sdn. Bhd., the company transitioned into the Singapore branch of Etiqa Insurance Berhad in 2009. Today, EIPL in Singapore stands as the pivotal operating entity of Etiqa Insurance Group, a leading insurance and takaful provider in ASEAN.
EIPL offers a comprehensive range of life and general insurance products accessible through its diverse distribution channels, including bancassurance, agents, brokers, financial advisers, partnerships, direct and online sales via Tiq by Etiqa. Etiqa is rated ‘A’ by credit rating agency Fitch for the group’s ‘Favorable’ business profile. EIPL is owned by Maybank Ageas Holdings Berhad, a joint venture combining local market expertise with international insurance knowledge, with 69% ownership by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group operating across 13 countries.
93.2% claims settlement ratio reflects strong customer trust in the insurer
HONG KONG SAR – Media OutReach Newswire – 1 August 2024 –MSIG Insurance (Hong Kong) Limited (“MSIG”) today published its fifth annual MSIG Claims Report which presents the total claims honoured in Hong Kong and Macau during the year as well as the insurer’s latest initiatives. In 2023, MSIG’s claims settlement ratio reached93.2% – which has been rising since 2020.
In 2023, MSIG honoured claims totalling HK$312,824,598 in Hong Kong and Macau. TheAnnual Claims Survey found that the top settlement ratios by class were Employee’s Compensation in Hong Kong at 99.63%, followed by Domestic Helper at 97.75% and Marine at 97.14%.
Multiple extreme weather events affected Hong Kong during the autumn of 2023, with a powerful typhoon followed by one of the heaviest periods of rainfall since records began – all of which caused significant damage. MSIG handled over 840 claims related to these events while maintaining clear and timely lines of communication with customers and providing assurance during a difficult and uncertain period. Philip Kent, Chief Executive Officer of MSIG Hong Kong, said:“We have always believed that insurance is ultimately a human-to-human industry, and that behind every claim is a personal story. Our investments into our claims processes and tools aim to provide even greater assurance to our customers that they have the support they need when they need it. Be it through medical, travel, home or extreme weather-related protection, we are here to help them on their life journey. I’m proud of the efforts of our teams and look forward to further enhancing our digital capabilities and continuing to offer an extraordinary service experience to our customers as their trusted partner.”
MSIG’s focus on the customer experience has resulted in industry recognition for claims excellence, receiving notable awards in 2023:
Top three finalist in the category of “Outstanding Claims Management Award – General Insurance” – Hong Kong Insurance Awards 2023, organised by the Hong Kong Federation of Insurers
“Outstanding Claims Management – Hong Kong” – The InsuranceAsia News Country Awards for Excellence 2023
MSIG further enhanced its claims processes in 2023 with the launch of Zero Touch, a digital solution for claims assessment that streamlines verification of customers’ claims history, policy validity and claims payment amounts.
The insurer introduced the MediGo Member Portal for group medical customers, providing comprehensive information on MSIG’s outpatient network supported by online claims submission and tracking functions. The new portal has significantly reduced the time it takes to settle claims, with customers receiving their settlement confirmation in as quickly as one working days after submission.
MSIG is continuing to enhance its processes around green claims and prioritise environmental protection for future generations through a range of new initiatives. As part of the insurer’s environmentally-conscious and customer-centric approach, it implemented “Eco Living Coverage” for Home Insurance products in Hong Kong and Macau. The coverage from these products now provides an additional allowance of up to HK$1,000 per eligible lost or damaged household appliance, replacing it with a new Energy Label Product that has a minimum Grade 2 recognition under the Mandatory Energy Efficiency Labelling Scheme in Hong Kong. Hashtag: #MSIGHongKong
The issuer is solely responsible for the content of this announcement.
About MSIG Insurance (Hong Kong) Limited (“MSIG Hong Kong”)
MSIG Hong Kong is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company Limited and a member of the MS&AD Insurance Group, Asia’s leading general insurance brand with presence in 50 countries and regions globally. The Group is amongst the world’s top 10 insurance groups based on gross revenue and one of Japan’s leading insurers with A+ Stable credit rating. With over 40,000 employees world-wide, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, Mainland China, Korea, India and Taiwan.
MSIG Hong Kong offers a wide range of solutions and services through an extensive distribution network including agents, brokers, and bancassurance alliances with leading banks. It has been providing general insurance solutions to customers in Hong Kong for more than 160 years, dating as far back as 1855.
SINGAPORE – Media OutReach Newswire – 1 August 2024 – PMCE, a solar company in Singapore, announces its latest initiative aimed at empowering small businesses with sustainable energy through solar panel solutions.
PMCE Solar Panels in Singapore
Supplying Solar Panels to Small Businesses
Aside from residential landed properties, Singapore has several buildings with roofs that are comparable in size to residential houses but do not have solar panel installation services catered to them. As economic benefits often weigh more than environmental impact, most businesses operating from these buildings tend to continue utilising existing energy sources instead of opting for greener alternatives.
Understanding that small businesses require solar panel systems different from those installed on larger commercial buildings and residential use, PMCE hopes to tap into this overlooked market. By focusing on the entrepreneurial mindset of small business owners, PMCE sees an opportunity to not just offer services, but to ignite a movement towards sustainable entrepreneurship. The company wants to encourage entrepreneurs to take control of their energy consumption, reduce costs, and amplify their impact on the environment.
To add value to their customers and offer better experiences, PMCE aims to initiate a customer relationship application where all solar project information can be accessed with a simple click on a smart device. This intuitive platform not only simplifies project management but also emphasises transparency and accountability, ensuring that customers are always informed to make data-driven decisions.
They will also be offering Renewable Energy Certificates (RECs) to help their customers receive additional remuneration from generating solar power. This provides a tangible financial benefit that complements the environmental advantages of solar energy.
Businesses operating in these buildings can expect absolute assurance of economic viability and support for their sustainability portfolio when they install solar panels on their roofs as part of this new initiative.
Anticipating Market Trends and Demands
With the introduction of this new service, demand for solar PV systems will only continue to rise. PMCE plans to meet this increasing demand for sustainable energy solutions by developing their CRM solutions and streamlining their sales and operations processes to increase productivity. This will allow the lead time to shorten to seven days from the moment a customer reaches out to them to the day of solar panel installation.
Future Plans
PMCE envisions its role in the renewable energy sector as a leader and innovator in the coming years and they aim to expand its reach not just within Singapore but also globally. This includes leveraging their expertise to enter new markets and forge international partnerships to achieve net-zero emissions and preserve the environment.
Besides selling solar panels, PMCE also intends to incorporate its project management capabilities, CRM solutions, and sales processes in regional markets such as Malaysia, Thailand, and the Philippines. Hashtag: #solarpmce
The issuer is solely responsible for the content of this announcement.
About PMCE
PMCE is a solar installation company in Singapore that supplies solar panels to residential homeowners. Today, they are a trusted solar panel specialist that provides low-cost services to encourage homeowners and businesses to adopt solar and do their part for the planet. To learn more about PMCE, please visit their website.
HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 1 August 2024 – SUNRATE, an intelligent global payment and treasury management platform, backed by global investors such as Peak XV Partners, Prosperity7 Ventures and SBVA has announced its official launch in Vietnam, including the appointment of Li Tao as its Head of Growth. This comes at a pivotal moment for SUNRATE, as the company continues to strengthen its global footprint, especially the Asia-Pacific region. Reporting to the co-founder, Joshua Bao, Li Tao will drive the company’s efforts to spearhead growth initiatives and foster collaboration across business units to identify market opportunities in Emerging Asia.
Strategically partnering with local licensed and global financial institutions, SUNRATE chose to launch its platform in Vietnam due to the strong customer demand and the major challenges that fast-growing Small and Medium-sized Enterprises (SMEs) segment across different verticals face in its operations. SUNRATE offers cutting-edge global payment products and services, including international payments and global collection services, to facilitate cross-border B2B payments that are fast, secure, transparent, compliant with regulations, and cost-effective for Vietnam businesses.
Joshua Bao, co-founder of SUNRATE said, “As the leading global cross-border B2B payment platform in emerging markets, we have been making steady progress, and by strategically appointing a senior leader with extensive experience like Li Tao, we are charting our path forward to continue empowering businesses worldwide and scaling both globally and locally.”
“Li Tao will also be instrumental in leading SUNRATE Vietnam’s growth and setting up local operations is just the initial step in our plan for expansion across Emerging Asia. According to Vietnam General Statistics Office, Vietnam’s import and export of goods in April 2024 reached a total of US$61.20 billion, an increase of 15 percent from the same period in 2023 and between January and April 2024 and the total trade in goods reached US$238.88 billion, increasing by 15.2 percent year-on-year, indicating that Vietnam is continuing to recover from 2023. I’m brimming with excitement and optimism for the incredible phase that lies ahead, and to welcome Li Tao to the team – he will be instrumental as we supercharge our operations in Vietnam and the Asian region.”
Bolstering leadership and local team hires
Prior to SUNRATE, Li Tao was the lead launcher for Shopee’s new markets, launching and growing Shopee’s European and LATAM markets. He has also held multiple leadership roles in the Shopee Cross Border team spanning from Key Account Management to Logistics and Operations. His experience in Cross-Border E-commerce and trade will make him invaluable to SUNRATE and its customers. Li Tao has built a team of local business development managers to provide high-touch customer service for Vietnam businesses. Li Tao is a Masters graduate from both INSEAD and the University of Cambridge.
“I’m delighted to join SUNRATE as we continue our global growth momentum into Vietnam and the Asian region,” Li Tao said. “Our technology-first approach, coupled with our business development teams, which provides the high-touch customer service are core to empowering businesses on their cross-border B2B payment needs, and Vietnam and the Asian region’s economic development is centred on digital trade. Our powerful proprietary tech engine and global network is an effective combination as businesses look to scale their businesses across borders or are interested in improving their cross-border business payment capabilities. I could not be more excited to partner with the talented SUNRATE team and support new and existing customers as we expand our footprint in Asia.”
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About SUNRATE
SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan and is the principal member of both Mastercard and Visa.