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Correcting and Replacing: AIA Singapore tackles the nation’s growing elder care needs with market’s first personal accident plan to provide coverage for multi-stage dementia

AIA Centurion PA Plan provides comprehensive coverage including value added services such as home care, health screening and teleconsultations. In celebration of Singapore’s 58th Birthday, Onward As One, we are rewarding families who purchase any of AIA’s eligible personal accident plans curated for 3 generations with a shopping voucher.

CORRECTION by AIA Singapore:
The second sentence of the 11th paragraph has been updated from
“Customers with AIA Vitality membership will enjoy a complimentary basic health screening with WhiteCoat.”
to
“Customers can choose to integrate the AIA Centurion PA plan with an AIA Vitality membership, where they will be given a basic health screening with WhiteCoat at no charge for the first year.”

The corrected release reads:

SINGAPORE – Media OutReach – 3 August 2023 – AIA Singapore will be launching AIA Centurion PA on 10 August, a personal accident (PA) insurance plan that aims to holistically address the growing needs of Singapore’s increasingly ageing population. This comes as part of AIA Health360, a comprehensive suite of solutions that supports consumers in their journey toward holistic wellness.

Singapore is currently one of the most rapidly ageing societies in Asia, caused by increased life expectancy and decreasing birth rates. In 2010, about 1 in 10 Singaporeans were aged 65 and above. A decade later, in 2020, it has risen to about 1 in 6. By 2030, another 10 years later, it would be almost 1 in 4 Singaporeans over 65[1]. These statistics underscore a need to help the rapidly ageing population be protected. With amongst the highest life expectancy in the world, Singaporeans are also expected to live longer[2].

AIA Centurion PA[3] is the first personal accident plan in Singapore that covers neurological diseases like Alzheimer’s Disease/Severe Dementia and Idiopathic Parkinson’s Disease, and allows reimbursement of day or home care services that is required for illness management via an optional rider. It provides coverage to age 100, and offers a high entry age of up to 80 years old.

Ms. Irma Hadikusuma, Chief Product Proposition Officer of AIA Singapore, said, “AIA Singapore aims to be a lifelong partner to our customers, enabling them to live Healthier, Longer, Better Lives through all life stages. We developed the AIA Centurion PA plan to address Singaporeans’ growing concerns of living longer in ill health amidst rising healthcare costs. Through more holistic and thoughtful solutions, we hope to provide both ageing Singaporeans, and those with ageing parents, with a greater peace of mind.”

Increasing dementia concerns in Singapore

An AIA Personal Accident Insurance Survey[4] was recently conducted to further understand the key concerns of growing old among Singapore residents. Findings revealed that when thinking about old-age ailments, 60% of Singaporeans are concerned about dementia, making it the nation’s top worry. Despite this concern, more than 1 in 2 Singaporeans surveyed shared that they do not own policies that cover neurological diseases. To that end, respondents indicated a demand for such coverage, with 55% sharing an intention to purchase such a policy for themselves, and more than 40% intending to purchase the same for their parents.

In response to these findings, AIA Centurion PA plan was developed to provide people with more accessibility to cover themselves for neurological diseases by offering the first-in-market optional rider attached to a personal accident plan, where lump-sum payouts for the diagnosis of early, intermediate, and late stage Alzheimer’s Disease/Severe Dementia and Idiopathic Parkinson’s Disease are available for up to S$100,000. The rider also offers dementia care reimbursement benefits of up to S$20,000, reimbursable for 24 months upon diagnosis of major stage Alzheimer’s Disease/Severe Dementia or Idiopathic Parkinson’s Disease for services rendered by registered and licensed day care centres, home care providers, or nursing homes. In addition, the rider provides easy application with two health questions and no medical examination is required.

Strengthening accidental medical reimbursement coverage

The survey also showed that nearly half the Singaporeans surveyed are concerned about physical disabilities due to accidental falls. This is corroborated by the respondents’ top concerns about growing old, in which 53% are worried about permanent disability, while 37% are worried about accident-related injuries.

AIA Centurion PA plan meets these concerns by reimbursing up to S$3,000 in medical costs, including the hiring of licensed or graduate nurses and physiotherapy per accident.

In addition, the plan covers for Traditional Chinese Medicine (TCM) or chiropractic treatment, while introducing additional accidental medical reimbursement coverage for treating bone fractures, ensuring that post-accident recovery can be as complete as possible.

A peace of mind

Singapore’s “sandwiched” generations, caring for both ageing parents and children of their own, are faced with immense pressures of life. In addition to the rising cost of living, which includes healthcare and caretaking costs, AIA’s research also shows that caretaking Singaporeans are dealing with the emotional stress of caring for their ageing parents, the lack of time to juggle their many responsibilities, and the fear that they may not have adequate retirement funds for themselves after dealing with the above, thus continuing the cycle of sandwiched generations in their children.

The AIA Centurion PA plan aims to encourage customers to live well with AIA Vitality. Customers can choose to integrate the AIA Centurion PA plan with an AIA Vitality membership, where they will be given a basic health screening with WhiteCoat at no charge for the first year. Thereafter, the insured customer can continue to enjoy the basic health screening at policy renewal if they achieve a gold or platinum AIA Vitality status. As a wellness programme, AIA Vitality supports members to track their health and rewards them with partner rewards and benefit for achieving their health goals.

The plan is also focused on supporting our customers to be well through AIA’s strong and comprehensive health and wellness partner ecosystem by providing them easier accessibility to healthcare services. AIA has partnered with Jaga-Me, a local mobile medical and home care specialist, to provide customers quality homecare services.

Customers can also receive on-demand video teleconsultation with Singapore-registered doctors in the comfort of their home with WhiteCoat.

With it, elderly policyholders may go about enjoying their golden years without the constant worry of burdening their children with large unplanned medical costs, while adults with families of their own to care for, as well as their own retirements to plan for, can go about life with the assurance that their parents are well protected.

Wider and more comprehensive overall protection[5]

In addition to the above features, AIA Centurion PA plan also offers the following in key benefits:

  • Accidental Death, Dismemberment and Burns benefits of up to S$100K.
  • Additional coverage for Accidental Dismemberment and burns resulting from accidents caused by public or private transport, pedestrians, personal mobility device (PMD) users, or building fires.
  • Coverage for Fractures and Loss of Activities of Daily Living due to injury.
  • Provide Daily Accidental Hospital Income and Post Hospitalisation Home Care Benefit in the event of any hospitalisation.
  • Mobility Aids and Home modification benefits to aid senior mobility and safety.


Celebrating Singapore’s 58th Birthday, Onward As One

In the month of August, we are rewarding families who purchase any of AIA’s eligible personal accident plans curated for 3 generations with a shopping voucher. The eligible plans are: AIA Centurion PA plan, AIA Solitaire PA (II)​ and AIA Star Protector Plus​.


[1] https://www.pmo.gov.sg/Newsroom/PM-Lee-Hsien-Loong-at-the-Singapore-Ageing-Issues-and-Challenges-Ahead-Book-Launch
[2]
https://www.channelnewsasia.com/singapore/public-sector-report-life-expectancy-spor-covid-19-570646
[3] AIA Centurion PA Plan is eligible for customers aged between 40 to 80 years old. Rider is available for customers aged between 40 to 70 years old.
[4] AIA Personal Accident Insurance Survey was conducted from June-July 2023, with 500 Singapore residents aged 30 to 80 via an online self-completed questionnaire.
[5] Insured Amount for some of the benefits will be reduced by 50% with effect from the Renewal Date falling on or immediately following the 81st birthday of the Insured.

Hashtag: #AIASingapore

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

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$303 billion as of 31 December 2022.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 41 million individual policies and over 17 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

1. Hong Kong SAR refers to the Hong Kong Special Administrative Region.
2. Macau SAR refers to the Macau Special Administrative Region.

Announcing profit of almost USD 232.4 million and adopting Basel III, HDBank continues moving forward with its sustainable business plan

HO CHI MINH CITY, VIETNAM – Media OutReach – 3 August 2023 – Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank – HOSE: HDB) has announced its first half results with pre-tax profits of nearly VND 232.4 million, which extended its growth track record in the 10th consecutive year.

Photo.JPG

“Overcoming many unprecedented challenges in the first half of this year, the operating results of HDBank in the first six months of 2023 once again confirm that the strategy and goals set by the Board of Directors are on the right track. HDBank remains steadfast in its sustainable development strategy, focusing on retail and digitalization, enhancing customer experience and values, with a focus on agriculture and rural areas, serving individual customers, households, SMEs, and value chains,” said Mr. Kim Byoungho, Chairman of HDBank’s Board of Directors.

ROE and many financial indicators are at the market-leading levels

According to the financial statement, as of June 30, 2023, HDBank’s total assets reached USD 20.4 billion, up 26% year-over-year (YoY).

Total funding reached USD 18.17 billion, up 17.4% year-to-date (YTD), with customer deposits reaching USD 13.08 billion, up 44%.

Total credit balance exceeded USD 12.36 billion, up 9.3% YTD.

These indicators reflect the bank’s solid growth momentum, primarily driven by its strategic focus on agriculture, rural areas, SMEs, small household businesses, and supply chains, in line with the “Sustainable Development – Pioneering Spirit” strategy embraced at its Annual General Meeting.

HDBank’s digital transformation efforts are bearing fruit, with the number of customers using digital channels in the first six months of 2023 increasing by nearly 70% YoY.

The number of transactions on digital platforms increased by 116% YoY, corresponding to a 132% increase in transaction value.

Digital transformation has also improved productivity, cost-to-income ratio (CIR) was optimized to 34.77%, from last year’s 36.98%, which is among the banks with lowest CIR in the market.

The Return on Equity (ROE) exceeded 22%, which further solidified its position among the most profitable banks in the system.

In the first half of 2023, in line with the State Bank’s guideline for reducing lending rates and restructuring repayment schedule for those customers facing with difficulties to support their recovery, HDBank reduced lending interest rates for its customers whose total outstanding loan balance was over USD 2.7 billion.

The Bank’s subsidiary – HD SAISON also promotes the disbursement of a preferential loan package of VND 10 trillion for factory workers and laborers.

Fully implemented Basel III standards, room for growth remains ample

Basel III standards were first studied for implementation since 2019, by June 2023, HDBank has completed the adoption of the most stringent international risk management standards in Vietnam.

Moreover, HDBank’s prudential indicators at June 30, 2023, are significantly ahead of the regulatory requirements of the State Bank of Vietnam.

Specifically, the Loan-to-Deposit Ratio (LDR) of the bank was kept at 70.96%, below the prescribed limit of 85%.

The Capital Adequacy Ratio (CAR) reached 12.3%, belonging to the top group in the market, and over 50% higher than the minimum requirement of 8%.

The ratio of short-term funds used for medium and long-term loans was at 11.2%, only one-third of the current 34% ceiling ratio.

“By maintaining high risk management standards under Basel III, as well as adhering to good operational safety ratios compared to the regulations of the State Bank of Vietnam, HDBank has the necessary capacity to continue pursuing growth values in the future and contribute to promoting strong economic recovery alongside its customers,” Mr. Kim Byoungho – Chairman of the Board added.

With a focus on sustainable development, building and spreading human values to the community alongside its business activities, in the first six months of 2023, HDBank actively implemented numerous community and social welfare activities through more than 20 programs nationwide.

HDBank’s outstanding efforts and achievements during the first six months of 2023 has been further decorated with prestigious international awards including awards from CitiBank and Wells Fargo for its Excellent International Payment Service, and the recognition for the Best Bank for Sustainable Finance in 2022 from The Asset.

Hashtag: #HDBank

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

China Tower Furthered “One Core and Two Wings” Strategy

Revenue Growth Supported by Multiple Pillars
Net Profit Increased Rapidly

HONG KONG SAR – Media OutReach – 3 August 2023 – The world’s largest telecommunications infrastructure service provider China Tower Corporation Limited (“China Tower”, or the “Company”) (Stock Code: 0788.HK) is pleased to announce its interim results for the year ended 30 June 2023.

Performance Highlights

RMB Million 1H 2023 1H 2022 Change
Operating revenue 46,461 45,479 2.2%
EBITDA 32,021 31,958 0.2%
Profit attributable to owners of the Company 4,841 4,224 14.6%
Basic earnings per share (RMB yuan) 0.0277 0.0242 14.5%
Key operating data
Number of tower sites (thousand) 2,061 2,049 0.6%
Number of tower tenants (thousand) 3,647 3,521 3.6%
Tenancy ratio (tenants / tower site) 1.77 1.72 2.9%

Our revenue grew steadily in the first half of 2023, reaching RMB46,461 million, an increase of 2.2% year-on-year. After excluding the impact of the Commercial Pricing Agreements, revenue increased by 6.2% on a comparable basis over the same period last year. EBITDA[1] amounted to RMB32,021 million with an EBITDA margin[2] of 68.9%. Profit attributable to the owners of the Company was RMB4,841 million, up by 14.6% year-on-year, with a net profit margin of 10.4%, marking a further improvement in profitability.

In the first half of 2023, our net cash generated from operating activities amounted to RMB11,555 million, and capital expenditure was RMB12,822 million. As of 30 June 2023, our total assets amounted to RMB318,063 million, with interest-bearing liabilities of RMB92,223 million, with a gearing ratio[3] of 31.6%. Our financial position remained stable.

Core advantages drove steady progress in TSP business

5G network penetration and coverage in China continues to expand and we seized the opportunities this presented. By strengthening resource coordination and sharing and operational efficiencies, we were able to meet customer network construction needs in an intensive and effective manner. We steadily implemented the new phase of the Commercial Pricing Agreements with the TSPs. In the first half of 2023, the revenue from our TSP business was RMB40,905 million, a decrease of 1.1% compared to the same period last year; however, when the impact of the Commercial Pricing Agreements is excluded, revenue reached RMB42,762 million on a comparable basis, an increase of 3.4% year-on-year.

Tower business. Centering around 5G network construction, we harnessed policy support for unleashing and sharing of public and cross-sector resources. These initiatives have helped reduce the entry barrier and social costs of reinforcing our competitiveness in resource coordination. A higher level of sharing of existing site resources, wider use of social resources and more effort in promoting the adoption of our integrated wireless communications coverage solutions has enabled us to comprehensively satisfy customer demand for 5G construction. We completed approximately 325,000 5G construction demand in the first half of 2023, of which more than 95% were fulfilled by sharing existing resources. We proactively captured the increased demand for low-frequency network construction and for new construction arising from network optimization. As a result, the number of new projects increased rapidly, effectively supporting the stable growth of our Tower business. Leveraging thorough knowledge of the construction features of comprehensive 5G coverage, we continued to launch innovative low-cost construction solutions, products and services to satisfy customer demand in an economical and effective manner. In the first half of 2023, our tower business revenue accounted for RMB37,481 million, down by 2.9% over the same period last year. After excluding the impact of the Commercial Pricing Agreements, our revenue reached RMB39,338 million on a comparable basis, an increase of 1.9% year-on-year. As of 30 June 2023, the Company was managing a total of 2.061 million tower sites, representing a net increase of 6,000 sites from the end of 2022. During the same period, we gained 61,000 new tenants, bringing the total number of TSP tenants to 3.423 million. Our TSP tenancy ratio increased from 1.65 at the end of 2022 to 1.67, showing a continuous increase in the level of site co-location.

DAS business. Our DAS business benefited from continued enhancements to design and quality management while leveraging the advantages of low cost, service quality, and low energy consumption. We further integrated and better coordinated “resources + demands”, fully leveraging unified site entry and coordinated construction, enabling us to expand 5G coverage in key industries such as education, cultural tourism, transportation, and healthcare, and to offer better service to support the newly established DAS market segments. Innovation in DAS products and comprehensive service solutions allowed us to provide customers with differentiated passive and active DAS sharing solutions, satisfying the demand for 5G upgrading of existing DAS. By further exploring shared value and expanding the scale of the business, we have consolidated DAS business as the “second engine” for development of our TSP business. In the first half of 2023, our DAS business recorded revenue of RMB3,424 million, an increase of 24.4% compared to the same period last year. As of 30 June 2023, we had covered buildings with a cumulative area of 8,820 million square meters, up by 47.7% year-on-year, while the coverage in high-speed railway tunnels and subways totaled a cumulative length of 22,135 kilometers, an increase of 21.1% over the same period last year.

Forged capabilities to maintain strong growth of Two Wings business

To maximize new opportunities brought by the development of the “Digital Economy” and the “dual carbon” goals, we continued to enhance our innovative development capabilities, improve core competitiveness, and promote rapid growth of the Two Wings business. In the first half of 2023, the revenue of the Two Wings business reached RMB5,361 million and accounted for 11.5% of our overall operating revenue, an increase of 2.7 percentage points over the same period last year, further reinforcing the Company’s multi-pillar structure for business development.

Smart Tower business. Our Smart Tower business took advantage of our mid-to high-point positions and continued to build digital towers. We fully leveraged our digital governance capabilities in fields such as farmland protection, forestry fire prevention, and the protection of the Yangtze River’s ecosystem, which contributed to national strategies and major projects while concurrently promoting digital economic development. We continued to increase research and development investment in Smart Tower business to develop product leadership in five areas – platform, data, algorithm, application, and operation. We focused on seven industry applications, covering the smart management of forestry, straw burning, fishery, farmland, blue skies, reservoirs, and villages, accelerating product development to meet customers’ specialization and

customization requirements. We supported these product developments with customer service that deepened a “one-on-one, face-to-face, and round-the-clock” companion service system, helping us to understand better our customers, efficiently meet their requirements, and respond promptly to their needs.

In the first half of 2023, the Smart Tower business achieved revenue of RMB3,386 million, a year-on-year increase of 31.0%, of which RMB2,076 million or 61.3% was generated from Tower Monitoring business.

Energy business. We actively grasped the development opportunities in the field of new energy. Adhering to the principles of sharing and collaboration, we fully utilized the company’s core strengths, such as abundant site resources, a visualizable and controllable monitoring platform, and specialized power maintenance and support service capabilities in the Energy business. We focused on key business segments such as battery exchange and power backup, exercising delicate operation, consolidating product, service, and platform advantages, building core competitiveness, and enhancing quality. For the battery exchange business, we utilized the advantages of our battery exchange networks and services, strengthened the consumer segment battery exchange market, while vigorously expanding our customer base in the business segment. As of 30 June 2023, we have attained a cumulative total of approximately 998,000 battery exchange users, with an increase of 96,000 from the end of 2022, further consolidating our leading position in the market for battery exchange for light electric vehicles. For the power backup business, we focused on key industries such as communications and finance by developing standardized backup power products, offering an integrated four-in-one solution covering power backup, power generation, monitoring and maintenance. This helped to drive the growth of the power backup business. In the first half of 2023, the Energy business achieved revenue of RMB1,975 million, a year-on-year increase of 38.5%, of which the battery exchange business accounted for RMB982 million, with its contribution to the Energy business reaching 49.7%.

Mr. Zhang Zhiyong, Chairman of China Tower said, “In the future, the Company will continue to place technological innovation at the center of driving high-quality corporate development. We will build a strong enterprise through technology innovation in order to forge new development momentum. We will continue to increase research and development in key core technologies such as intelligent operations and maintenance, edge computing networks, video AI algorithms, mid-to high-point IoT, and energy interconnection, enhancing original innovation capabilities in key areas. We will optimize and improve the technological innovation system, increase research and development investment, enhance the overall efficiency of technological innovation, accelerate the transformation of technological achievements into practical productivity, and continue to enhance technological innovation capabilities. We will also respect our talent and advocate innovation, increase rewards and incentives, allowing the creativity and innovation of our technological talent to flourish to the fullest extent.”


Note 1: EBITDA is calculated by operating profit plus depreciation and amortization.

Note 2: EBITDA margin is calculated by dividing EBITDA by operating revenue, and multiplying the resulting value by 100%.

Note 3: Gearing ratio is calculated as net debt divided by the sum of total equity and net debt, then multiplied by 100%.

Hashtag: #ChinaTower

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

About China Tower (Stock Code: 0788.HK)

China Tower is the world’s largest telecommunications tower infrastructure service provider, and the Company always adheres to the philosophy of shared development and implements the “One Core and Two Wings” strategy. The Company is principally engaged in the construction, maintenance and operation of base station ancillary facilities such as telecommunications towers, public network coverage in high-speed railways and subways, and large-scale indoor Distributed Antenna Systems (DAS). Meanwhile, relying on unique resources to provide energy application services such as information application and intelligent battery exchange and power backup to the society, the Company strives to build itself into a world-class information and communications infrastructure service provider, and a highly competitive information and new energy applications provider. As of the end of June 2023, the Company’s total assets amounted to RMB318,063 million. China Tower operated and managed 2.061 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.647 million tenants with the tenancy ratio of 1.77.

Schneider Electric Sustainability Impact Awards back for a second year and nominations now open to customers and suppliers too

  • In addition to partners, Schneider is extending submissions to customers and suppliers for the second edition.
  • New application criteria will empower companies to deliver a more integrated approach to how they Strategize, Digitize, and Decarbonize.
  • Nominations are open from now until November 17, 2023.
HONG KONG SAR – Media Outreach – 3 August 2023 – Schneider Electric, the leader in the digital transformation of energy management and automation, today announced that applications are now open for the second installment of the Schneider Electric Sustainability Impact Awards.
Launched in 2022, the awards honor the contribution of Schneider’s partner ecosystem in creating a more sustainable and electric world. This year, Schneider is broadening the scope of eligible companies to include customers and suppliers as well as channel partners. The selection criteria have also been updated to address wider efforts to achieve net-zero targets through electrifying and digitizing operations. Submissions will be open from now until November 17, 2023, and the global winners will be announced in April 2024.
The new award categories introduced this year include:
  • “Impact to my Customers”: rewarding partners that demonstrate sustainable leadership by enabling their customers to achieve their decarbonization goals.
  • “Impact to my Enterprise”: rewarding customers that exhibit sustainability leadership in decarbonizing their own operations.
  • “Impact to my Enterprise for Large or Midsize suppliers”: rewarding suppliers that are engaged in the Zero Carbon Project, a Schneider-led initiative aimed at halving the operational carbon emissions of the company’s top 1,000 global suppliers by 2025.
In addition to the above, Schneider has updated the awards selection criteria with a more integrated approach to sustainability. The focus remains on entrants’ decarbonization efforts to Electrify, Reduce, and Replace while also looking more broadly at their endeavors to create an Electricity 4.0 future through actions to Strategize, Digitize, and Decarbonize. This includes improving energy efficiency and implementing digital tools and technologies as well as other examples of impact and innovation. In addition to receiving valuable recognition, award winners benefit from global visibility which could lead to new business opportunities.
Rohan Kelkar, Executive Vice President of Power Products at Schneider Electric:
“In our shared pursuit of accelerating the path to net-zero, we are on a mission together. At Schneider Electric, we are proud to open our annual Sustainability Impact Awards for the second year running to include our customers and suppliers, in addition to our partners. There is power in numbers, and we hope to celebrate and empower our ecosystem of partners to continue embodying positive change within their business operations.”
How to enter
Nominations will be accepted from July 24, 2023– Register interest here.
The deadline for submissions is November 17, 2023. All nominations and submissions will be shortlisted for regional finals, before being considered for the global award. The global winner will be announced in April 2024.
The 2023 edition of the Sustainability Impact Awards saw a total of 241 submissions from channel partners around the world, out of which six global winners were awarded for their pioneering innovation and decarbonization efforts.
The 2024 Sustainability Impact Awards continues the momentum of Schneider’s Partnering for Sustainability initiative aimed at empowering Schneider’s extensive partner ecosystem to deliver a more sustainable future. The latest milestone of this was the launch of the Schneider Electric Sustainability School, a free educational resource available for companies worldwide to accelerate their decarbonization journeys.

Hashtag: #SchneiderElectric #Partnershipsofthefuture #partneringforsustainability #sustainabilityimpactawards



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

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on .

Infineon to build the world’s largest 200-millimeter SiC Power Fab in Kulim, Malaysia, leading to total revenue potential of about seven billion euros by the end of the decade

MUNICH, GERMANY – Media OutReach – 3 August 2023 – The decarbonization trend will result in strong market growth for power semiconductors, in particular those based on wide bandgap materials. As a leader in Power Systems, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) is now taking a further, decisive step to shape this market: By significantly expanding its Kulim fab – over and above the original investment announced in February 2022 – Infineon will build the world’s largest 200-millimeter SiC (silicon carbide) Power Fab. The planned expansion is backed by customer commitments covering about five billion euros of new design-wins in automotive and industrial applications as well as about one billion euros in pre- payments.

Rendering of Infineon Technologies AG’s manufacturing site in Kulim, Malaysia: By significantly expanding the fab – over and above the original investment announced in February 2022 – Infineon will build the world’s largest 200-millimeter SiC Power Fab.
Rendering of Infineon Technologies AG’s manufacturing site in Kulim, Malaysia: By significantly expanding the fab – over and above the original investment announced in February 2022 – Infineon will build the world’s largest 200-millimeter SiC Power Fab.

Over the next five years Infineon will additionally invest up to five billion euros in Kulim during a second construction phase for Module Three. The investment will lead to an annual SiC revenue potential of about seven billion euros by the end of the decade, together with the planned 200-millimeter SiC conversion of Villach and Kulim. This highly competitive manufacturing base will support Infineon’s SiC market share target of 30% towards the end of the decade. Infineon is confident that the company’s SiC revenue in the fiscal year 2025 will come in ahead of the target of one billion euros.

“The market for silicon carbide shows accelerating growth, not only in automotive but also in a broad range of industrial applications such as solar, energy storage and high-power EV charging. With the Kulim expansion, we will secure our leadership position in this market,” said Jochen Hanebeck, CEO of Infineon. “With the industry’s leading scale and a unique cost position, we are leveraging our competitive position of best-in-class SiC trench technology, the broadest package portfolio and unrivaled application understanding. These factors are the areas of differentiation and success in the industry.”

Infineon has been awarded new design wins of about five billion euros along with about one billion euros in prepayments from existing and new customers: In the automotive sector this includes six OEMs, three of them from China. Among the customers are Ford, SAIC and Chery. In the area of renewable energies customers include SolarEdge and three leading Chinese photovoltaic and energy storage systems companies. In addition, Infineon and Schneider Electric agreed on a capacity reservation including prepayments for power products based on silicon and silicon carbide. Infineon and the respective customers will provide more details in separate announcements in the near future. The prepayments will contribute positively to Infineon’s cash flow in the coming years and shall be fully repaid in connection with the agreed sales volumes by 2030 at the latest.

The Right Honourable Dato’ Seri Anwar bin Ibrahim, Prime Minister of Malaysia, expressed his appreciation for Infineon’s commitment to creating a significant wide bandgap hub in the country. “Malaysia is putting in maximum efforts to meet its national target to decarbonize its economy and achieve net zero by 2050. Malaysia’s continued appeal as a preferred investment destination comes with a well-established landscape for developing innovative and sustainable technologies. In this vein, Infineon’s vision on green technology and sustainability puts it right at home in Malaysia. Infineon and other well-established German corporations’ continued faith in Malaysia is a vote of confidence in Malaysia’s new economic growth agenda premised on inclusivity and sustainability, enabled by strong policies on knowledge transfer, quality investments, business enablement and socio-economic well-being based on equitable sharing of the nation’s wealth.”

The Minister of Investment, Trade and Industry (MITI), His Hon. Tengku Datuk Seri Utama Zafrul Aziz lauded Infineon’s expansion and said, “Infineon’s expansion of their world-class silicon carbide facility in Kulim marks a significant milestone in Malaysia’s pursuit of developing advanced manufacturing capabilities, creating high-skilled employment opportunities and positioning the country at the forefront of enabling green technologies, which are crucial to achieving our global sustainable development goals. The innovative power semiconductor technologies manufactured in the SiC Power Fab will also bolster Malaysia’s position as a key player in the world’s semiconductor ecosystem, with a growing role specifically in the sustainable technology supply chain. I am heartened by Infineon’s sharing of Malaysia’s commitment to address the impact of climate change and I look forward to our long-term partnership for the further development of Malaysia’s green technologies ecosystem.”

Sustainability is a key element in the planning, construction and operation of the fab. The building is designed in a way that allows Infineon to make responsible use of resources such as electricity and water.

Hashtag: #Infineon #siliconcarbide #SiC


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

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

Chubb Promotes Serene Neo to Head its Accident & Health Business in Asia Pacific

SINGAPORE – Media OutReach – 3 August 2023 – Chubb has announced the appointment of Serene Neo as Head of Accident & Health (A&H) for Asia Pacific, effective 1 August 2023. In this role she will report to Ben Howell, Head of Consumer, Asia Pacific, and be responsible for the management, financial performance and growth of Chubb’s accident, health and travel portfolios.

Neo joined Chubb in 2019 after spending more than 15 years working in financial services in product management, marketing and digital banking roles. In 2022 she was promoted to her most recent position of Division Head, Consumer Lines, Singapore where she was instrumental in driving strategic digital initiatives and building key partnerships.

On announcing Neo’s appointment, Howell said, “Serene’s impressive track-record combined with her transformational leadership style, business acumen and creativity make her the ideal leader of our substantial Accident & Health business across Asia Pacific. Her promotion is testament to our depth of talent in the region.”

Hashtag: #Chubb

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About Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 40,000 people worldwide. Additional information can be found at: .

HKU introduces new policy to fully integrate GenAI in Teaching and Learning

HONG KONG SAR – Media OutReach – 3 August 2023 – The University of Hong Kong (HKU) has announced its commitment to incorporating next-generation artificial intelligence technology, GenAI, into its teaching and learning environment starting from the 2023-24 academic year.

(From left) Ms Flora Ng, Professor Pauline Chiu, Professor Ian Holliday and Professor Cecilia Chan
(From left) Ms Flora Ng, Professor Pauline Chiu, Professor Ian Holliday and Professor Cecilia Chan

In June, the University Senate endorsed a comprehensive policy for using GenAI in teaching and learning. This incorporation of GenAI will establish it as the fifth literacy for HKU students, alongside the current four literacies of oral, written, visual, and digital communication, under the HKU communication-intensive course (CiC) initiative.

Over the past several months, HKU has offered free access to ChatGPT and other generative AI tools for teaching staff. Beginning this new semester in September, a wide range of GenAI tools such as Microsoft OpenAI and Dall-E will be provided for free to all teachers and students for teaching and learning purposes. Trainings and online courses and other resources will be provided to ensure the effective use of these tools.

“HKU embraces GenAI and recognizes AI literacy as essential to teaching and learning. Our goal is to enable our teachers and students to become not only AI literate but also leaders in exploiting the vast potential of GenAI for the benefit of mankind,” said Professor Holliday, who earlier led the task force to formulate the policy paper. He will chair a new GenAI User Advisory Committee to oversee the integration of GenAI in teaching and learning, and determine which GenAI tools should be incorporated and how they can best support student learning.

Under the new policy, teachers are encouraged to optimise student learning with GenAI including devising creative, engaging and innovative T&L activities; fostering analytical thinking; developing critical research skills; creating content tailored to individual needs and interests, etc.

To maintain the highest standards of GenAI integration, periodic evaluations involving multiple stakeholders, such as teachers, students, and IT administrators, will be conducted. These evaluations will inform future strategies and tactics to address any emerging challenges.

Teachers are encouraged to embrace GenAI in assessment, and to devise mechanisms for evaluate student attainment authentically and fairly. The aim is to ensure the responsible and effective use of GenAI tools, and to uphold the highest standard of academic integrity.

To address the challenges posed by GenAI on student work assessments, teachers are to clearly communicate expectations and provide guidance on proper declaration and citation of GenAI tools used in coursework tasks and assignments. Alternative assessment methods will be encouraged, prompting students to use GenAI tools in their submitted work. Examples include device-free examinations, oral examinations, live classwork such as demonstrations and presentations, and student peer assessments.

Additional resources for students and staff in need of AI support, including the AI Clinic, AI in Education website, and a five-week self-paced online module, will serve as valuable sources of information and guidance on responsible AI use.

In addition, HKU has received an HK$15.7 million in funding under UGC’s inaugural Fund for Innovative Technology-in-Education (FITE). The funding will be used to enhance GenAI technology use in various disciplines.

The University also plans to form alliances with elite universities worldwide to jointly explore the potential of GenAI and tackle challenges.

“By boosting critical engagement with GenAI, we aim to elevate teaching and learning at the University to new heights of academic excellence.” Professor Holliday said.

For the online press release and photos, please visit: http://www.hku.hk/press/news_detail_26434.html
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Meta Holdings launches ‘HRDR’, a virtual humanoid Al Model for Virtual Idols with Music, Dance & Social

SHANGHAI, CHINA – Media OutReach – 3 August 2023 – WEB3.0 Immersive Interactive Social Metaverse – Meta Holdings Group (www.meta48.com) and Shanghai SNH48 Culture Media Group Co., Ltd. (www.snh48.com) officially announced the release of China’s first comprehensive, vertical marketplace, multimodal artificial intelligence big data model ‘HRDR’ on August 5, 2023, in Shanghai. This model focuses on virtual digital human music, dance, and virtual social interactions.

Meta Holdings Ltd., together with research and development centers in Shanghai, Beijing, and Chengdu, jointly created and exclusively owns the multimodal large model of artificial intelligence and accompanying digital toolkits and ‘The Seine River Metaverse Buildor’. These tools are developed in the Meta48 Artificial Intelligence Lab. and the Meta48 Digital Intelligent Human Lab. In the past decade, it has accumulated up to 500 terabytes of data, comprising text, audio, and video, from the long-term operation of SNH48 GROUP, a large youth girl group in China. With sufficient computing power, ‘HRDR’ will play a pivotal role in the technical implementation and practical application of digital/virtual humans across several industries, including music and virtual dance entertainment, next-generation games, virtual social interactions, and various digital content creation. Additionally, it will offer crucial technical support for implementing PGA and UGA, in addition to PGC and UGC to realize co-creation and co-development through the Metaverse project.

As a multi-modal artificial intelligence big data model focused on vertical markets such as virtual companions, music, dance, and social interactions, the concept and name of “HRDR” combines the titles of the first virtual companionship and romance game in China, “Heartbeat Memories” (1998), the first music and dance online game in the Chinese market, “O2Jam” (2004) and “Audition” (2005), as well as the first large-scale youth girl group in China, “SNH48 GROUP” (Seine River) (2012). It carries the meaning of commemorating the “memories of a large number of Chinese youth” that were made possible by the founder of Meta Holding and his core entrepreneurial team. It also expresses the intention of the founder of Meta Holding Ltd., and the leadership team to forge ahead in the new era of WEB3.0 and artificial intelligence, continuously making new contributions to the future development of interactive entertainment and cultural industries.

The “Meta Metaverse,” developed by Meta Holding, relies on WEB3.0 and artificial intelligence big data modeling technology to fundamentally reshape the core user experience of classic cultural and entertainment products such as “Heartbeat Memories,” “o2Jam,” “Audition,” and “SNH48 GROUP,” and evolve them into an immersive interactive social metaverse in the form of WEB3.0. This product will officially launch in the China domestic market in the first quarter of 2024.
Hashtag: #MetaHoldings

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