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Goldwater International to launch one-stop wealth management service Covering diversified trust schemes, comprehensive asset allocation and tax planning

HONG KONG SAR – Media OutReach – 13 March 2023 Goldwater International Limited is pleased to announce the launch of a one-stop wealth management service that includes technology adoption and flexible mandates. We manage the financial and non-financial assets of our valued customers by formulating personalized and reliable trust solutions, achieving comprehensive personal and family protection, retirement planning, and long-term asset arrangements

Many high-net-worth individuals have entrusted their assets to wealth management enterprise amid the flourishing of the trust industry in Hong Kong, outbreak of pandemic and the geopolitical tensions. Goldwater International is seizing the opportunity of global economic recovery, providing customers with comprehensive wealth management services that cover various trust schemes, including family wealth management, tax planning and asset preservation. The one-stop service simplifies the wealth management process and reduce complex and trivial procedures for customers.

Goldwater has years of experience in trust and wealth management, and its professional team is certified and experienced in the field of trust management, legal compliance, and customer management. By gaining a deep understanding of each customer’s goals, the team carefully balances their needs and risk tolerance levels to tailor a trust solution for customers.

Mr. John Peng, Managing Director of Goldwater International Limited said, “Hong Kong’s diversified investment tool and the growth opportunities in the Greater Bay Area are conducive to connecting customers worldwide and bringing ample room for growth for the trust industry. We continue to pay attention to market changes, expand our business and nurture talents, hoping to build Hong Kong into a hub for trusts in the Asia-Pacific region and provide more comprehensive professional services for customers.”

Hashtag: #GoldwaterInternational

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

About Goldwater International Limited

Goldwater International Limited is an experienced trust and wealth management enterprise, aimed at providing customers with trust services, asset management and global asset allocation services, family wealth management, tax planning, estate planning and diversified financial products. Based on customers’ financial status, risk tolerance level and investment goals, the company formulates personalized solutions and provides appropriate asset allocation advice. At the same time, the company timely adjusts asset portfolios for customers to achieve the best returns according to the global economic situation and market changes.

Australia and Laos Continue Human Resource Development Partnership

Australia and Laos Continue Human Resource Development Partnership
Australia’s Deputy Ambassador, Mr. Dan Heldon (left) & the Lao Deputy Minister of Education and Sports, Mr. Kingmano (right) Phommahaxay (right)

The Program Management and Steering Committee for the third phase of the Laos Australia Institute held its first meeting last week.

Toyota Laos to Support Grassroots Football Movement

Toyota Laos Launches Activities to Support Grassroots Football Movement

Toyota Laos Co, Ltd., a leader in automobile car manufacturing in the country, launched several activities to support its grassroots football movement.

Air Pollution Makes Over 1 Million People Sick in Thailand

Haze Worsens Over Thailand With Over 1 Million Residents Sick
Heavy air pollution of fine particulate matter (PM2.5) shrouds the sky over Bangkok, Thailand, 01 February 2023. ( Photo : EPA )

Thailand has seen over 1 million residents getting sick from the smog engulfing the country this year, which is most likely caused due to farmers and households burning waste in Laos and Northern Thailand.

Michelle Yeoh Wins Best Actress Award, Making Oscar History

Michelle Yeoh wins best actress award, making Oscar history
Michelle Yeoh accepts the award for best performance by an actress in a leading role for "Everything Everywhere All at Once" at the Oscars on Sunday, March 12, 2023, at the Dolby Theatre in Los Angeles. ( Photo : AP Photo/Chris Pizzello )

LOS ANGELES (AP) — Michelle Yeoh has won the Academy Award for best actress and made history all at once.

VHIS is more than tax deductions, be mindful of the calculation and get insured wisely

HONG KONG SAR – Media OutReach – 13 March 2023 – Voluntary Health Insurance Scheme (VHIS) policyholders are eligible to claim up to HK$8,000 for tax deduction. If we use a tax rate of 17% for calculation, the total tax deduction exceeds HK$1,300. However, many policyholders focus on saving the most tax, but neglecting the actual premium paid, and end up saving less money.

VHIS Tax Deduction Claimable Limit & Calculation

Each policyholder and taxpayer can claim up to HK$8,000 of VHIS premium for tax deduction. If the annual VHIS premium exceeds this amount, only HK$8,000 can be claimed.

The tax deduction amount is calculated as below –

Formula
VHIS premium paid during the assessment year X Tax Rate = Actual Tax Deduction Amount
Example
HK$8,000
(Tax Deduction Claimable Limit )
X 17%
(Assuming the Tax Rate is 17%*)
= HK$1,360

*The tax rate varies between policyholders, depending on the salary.

Many may think choosing a VHIS with higher premium allows them to enjoy higher tax deduction, and save more money. However, it is not the case.

Instead of saving tax, you spend more for a more expensive VHIS plan with similar Protection

Formula shows policyholders could enjoy higher tax deduction with more expensive plans.

However, Bowtie’s calculations show that the most cost-effective way is to purchase a Voluntary Health Insurance Scheme (VHIS) Policy with a lower premium but adequate protection.

Case 1: Purchase a more expensive VHIS plan^ Case 2: Purchase a more affordable VHIS plan^
Tax Deduction Claimable Limit HK$8,000 HK$3,372
Tax Deduction Amount
Assuming the Tax Rate is 17%*
HK$8,000 x 17%
= HK$1,360
HK$3,372 x 17%
= HK$607
Yearly Expenses
Actual Paid Premium – Tax Deduction Amount
HK$8,000 – HK$1,360
= HK$6,640
HK$3,372 – HK$607
=HK$2,765

*The tax rate varies between policyholders, depending on the salary.
^ VHIS with similar protection

From the yearly expenses, we could see case 2 saved two times more money than case 1.

Most money is saved when the family member with the highest income applies for the tax deduction as the Policyholder

Higher the income, higher the tax rate. If the family member with the highest income purchases VHIS for the whole family, and applies for tax deduction, most money will be saved.

Bowtie will demonstrate the internal calculations with an example from Case 2.

Case 2 Case 2 – Family Member a Case 2 – Family Member b Case 2 – Family Member c
Tax Deduction Claimable Limit HK$3,372 HK$4,476 HK$1,920 HK$2,196
Tax Deduction Amount
Assuming the Tax Rate is 17%*
HK$3,372 x 17%
= HK$607
HK$4,476 x 17%
= HK$761
HK$1,920 x 17%
= HK$326
HK$2,196 x 17%
= HK$373
Yearly Expenses
Actual Paid Premium – Tax Deduction Amount
HK$3,372 – HK$607
= HK$2,765
HK$4,476 – HK$761
= HK$3,715
HK$1,920 – HK$326
= HK$1,594
HK$2,196 – HK$373
= HK$1,823

*The tax rate varies between policyholders, depending on the salary.

From the above demonstration, we could see that if one member of the family purchased VHIS for the other three members, they could save HK$1,460 more tax than before (versus saving only HK$607 for one member).

Last Tip – The most “money-saving” way is to…

The family member with the highest salary should purchase VHIS for the entire family and claim for tax deduction. Then, when choosing a plan, choose a plan with similar protection but a lower premium.

Hashtag: #Bowtie #vhis #insurance

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

About Bowtie

The Bowtie Life Insurance Company Limited is an authorised life insurance company and Hong Kong’s very first virtual insurer approved under the Fast Track pilot scheme. Through the use of modern technology and medical expertise, Bowtie offers a commission-free convenient online platform for customers to quote, apply and claim for health insurance plans certified by the Health Bureau under the Voluntary Health Insurance Scheme (VHIS).

In addition, Bowtie has also gone into everyday life by creating the One-stop Primary Care Centre and the Asian Health Hub . Bowtie is backed by Sun Life Financial, Mitsui & Co., Ltd and supported by leading international reinsurers.

Stay up to date at .

Prudential plc included in the Shanghai – Hong Kong Stock Connect Programme

HONG KONG SAR – Media OutReach – 13 March 2023 – Prudential plc (“Prudential”) today announced that Prudential’s shares, which trade on the Stock Exchange of Hong Kong, are now included in the Shanghai-Hong Kong Stock Connect programme.

The expansion comes after Prudential’s inclusion in the Shenzhen-Hong Kong Stock Connect programme and the Hang Seng Composite Index last year.

James Turner, Group Chief Financial Officer, Prudential said: “This inclusion signifies another milestone for Prudential. This additional southbound trading mechanism will allow more investors in the Chinese mainland to share our growth and help lift our profile and shareholder base in China further.”

Prudential provides life and health insurance and asset management in 23 markets across Asia and Africa. The business helps people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion.

Prudential is due to report its 2022 Full Year results on 15 March 2023.

Hashtag: #prudential

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

About the Shanghai-Hong Kong Stock Connect Programme

The Shanghai-Hong Kong Stock Connect is a mutual stock market access programme through which investors in the Chinese mainland and Hong Kong can trade and settle shares listed on either market via the Shanghai Stock Exchange, the Stock Exchange of Hong Kong or clearing houses in their home market.

Investors in the Chinese mainland need to maintain a total balance of securities and cash account of not less than CNY500,000 to participate in the programme.

About Prudential plc

Prudential plc provides life and health insurance and asset management in 23 markets across Asia and Africa (at 31 December 2022). The business helps people get the most out of life, by making healthcare affordable and accessible and by promoting financial inclusion. Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.

Forward-looking statements

This document contains ‘forward-looking statements’ with respect to certain of Prudential’s (and its wholly and jointly owned businesses’) plans and its goals and expectations relating to future financial condition, performance, results, strategy and objectives. Statements that are not historical facts, including statements about Prudential’s (and its wholly and jointly owned businesses’) beliefs and expectations and including, without limitation, commitments, ambitions and targets, including those related to ESG, and statements containing the words ‘may’, ‘will’, ‘should’, ‘continue’, ‘aims’, ‘estimates’, ‘projects’, ‘believes’, ‘intends’, ‘expects’, ‘plans’, ‘seeks’ and ‘anticipates’, and words of similar meaning, are forward-looking statements. These statements are based on plans, estimates and projections as at the time they are made, and therefore undue reliance should not be placed on them. By their nature, all forward-looking statements involve risk and uncertainty.

A number of important factors could cause actual future financial condition or performance or other indicated results to differ materially from those indicated in any forward-looking statement. Such factors include, but are not limited to:

  • current and future market conditions, including fluctuations in interest rates and exchange rates, inflation (including resulting interest rate rises), sustained high or low interest rate environments, the performance of financial and credit markets generally and the impact of economic uncertainty, slowdown or contraction (including as a result of the Russia-Ukraine conflict and related or other geopolitical tensions and conflicts), which may also impact policyholder behaviour and reduce product affordability;
  • asset valuation impacts from the transition to a lower carbon economy;
  • derivative instruments not effectively mitigating any exposures;
  • global political uncertainties, including the potential for increased friction in cross-border trade and the exercise of laws, regulations and executive powers to restrict trade, financial transactions, capital movements and/or investment;
  • the longer-term impacts of Covid-19, including macro-economic impacts on financial market volatility and global economic activity and impacts on sales, claims, assumptions and increased product lapses;
  • the policies and actions of regulatory authorities, including, in particular, the policies and actions of the Hong Kong Insurance Authority, as Prudential’s Group-wide supervisor, as well as the degree and pace of regulatory changes and new government initiatives generally;
  • given Prudential’s designation as an Internationally Active Insurance Group, the impact on Prudential of systemic risk and other group supervision policy standards adopted by the International Association of Insurance Supervisors;
  • the physical, social, morbidity/health and financial impacts of climate change and global health crises, which may impact Prudential’s business, investments, operations and its duties owed to customers;
  • legal, policy and regulatory developments in response to climate change and broader sustainability-related issues, including the development of regulations and standards and interpretations such as those relating to ESG reporting, disclosures and product labelling and their interpretations (which may conflict and create misrepresentation risks);
  • the collective ability of governments, policymakers, the Group, industry and other stakeholders to implement and adhere to commitments on mitigation of climate change and broader sustainability-related issues effectively (including not appropriately considering the interests of all Prudential’s stakeholders or failing to maintain high standards of corporate governance and responsible business practices);
  • the impact of competition and fast-paced technological change;
  • the effect on Prudential’s business and results from, in particular, mortality and morbidity trends, lapse rates and policy renewal rates;
  • the timing, impact and other uncertainties of future acquisitions or combinations within relevant industries;
  • the impact of internal transformation projects and other strategic actions failing to meet their objectives or adversely impacting the Group’s employees;
  • the availability and effectiveness of reinsurance for Prudential’s businesses;
  • the risk that Prudential’s operational resilience (or that of its suppliers and partners) may prove to be inadequate, including in relation to operational disruption due to external events;
  • disruption to the availability, confidentiality or integrity of Prudential’s information technology, digital systems and data (or those of its suppliers and partners) including the Pulse platform;
  • the increased non-financial and financial risks and uncertainties associated with operating joint ventures with independent partners, particularly where joint ventures are not controlled by Prudential;
  • the impact of changes in capital, solvency standards, accounting standards or relevant regulatory frameworks, and tax and other legislation and regulations in the jurisdictions in which Prudential and its affiliates operate; and
  • the impact of legal and regulatory actions, investigations and disputes.

These factors are not exhaustive. Prudential operates in a continually changing business environment with new risks emerging from time to time that it may be unable to predict or that it currently does not expect to have a material adverse effect on its business. In addition, these and other important factors may, for example, result in changes to assumptions used for determining results of operations or re-estimations of reserves for future policy benefits. Further discussion of these and other important factors that could cause actual future financial condition or performance to differ, possibly materially, from those anticipated in Prudential’s forward-looking statements can be found under the ‘Risk Factors’ of Prudential’s 2022 Half Year Financial Report and any subsequent filing Prudential has made with the US Securities and Exchange Commission, including any subsequent 2022 Half Year Report filed on Form 6-K. Prudential’s Prudential’s 2022 Half Year Financial Report is available on its website at .

Any forward-looking statements contained in this document speak only as of the date on which they are made. Prudential expressly disclaims any obligation to update any of the forward-looking statements contained in this document or any other forward-looking statements it may make, whether as a result of future events, new information or otherwise except as required pursuant to the UK Prospectus Rules, the UK Listing Rules, the UK Disclosure Guidance and Transparency Rules, the Hong Kong Listing Rules, the SGX-ST Listing Rules or other applicable laws and regulations.

Prudential may also make or disclose written and/or oral forward-looking statements in reports filed with or furnished to the US Securities and Exchange Commission, the UK Financial Conduct Authority, the Hong Kong Stock Exchange and other regulatory authorities, as well as in its annual report and accounts to shareholders, periodic financial reports to shareholders, proxy statements, offering circulars, registration statements, prospectuses, prospectus supplements, press releases and other written materials and in oral statements made by directors, officers or employees of Prudential to third parties, including financial analysts. All such forward-looking statements are qualified in their entirety by reference to the factors discussed under the ‘Risk Factors’ heading of Prudential’s 2022 Half Year Financial Report and any subsequent filing Prudential has made with the US Securities and Exchange Commission, including any subsequent 2022 Half Year Report filed on Form 6-K.

Cautionary statements

This document does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation of any offer to purchase, acquire, subscribe for, sell or dispose of, any securities in any jurisdiction nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.

Road Accidents in Laos Claim 85 Lives in February

Road Accidents Kills 85 Throughout Laos in February
This image is used only for representational purpose (photo: Tonamcha News)

According to the Traffic Police Department, 85 people died in road accidents in Laos in February, a decrease from the previous month’s figure of 114 casualties.