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AI-powered, blockchain-based solution for ESG challenges in painting for the shipbuilding industry

SINGAPORE – Media OutReach – 9 December 2022 – South Korean company, SSVT (Smart Ship Venture Technology), seeks to expand to Singapore with its new service offering, PANKI.

PANKI is an AI-powered, blockchain-based monitoring and management solution that aims to solve ESG challenges for the painting process in the shipbuilding industry. Development for the platform began in February 2021, and a prototype was completed in April 2022. PANKI digitalises the shipyard painting inspection process and automatically generates reports and analyses of the collected data.

Singapore is one of the biggest ports globally for maritime trade. Connected to more than 600 ports in over 120 countries worldwide. With 140,000 vessels calling at port yearly, Singapore is the busiest port in the world in terms of shipping tonnage.

SSVT believes that PANKI can drive cleaner efficiency towards ESG efforts with their expansion to Singapore. PANKI addresses the issue of the growing shortage of skilled inspectors and personnel by creating clear reference points on the vessel for painting inspection. The platform digitalises, and manages the entire painting process from front to end.

“Maritime trade is the backbone for international trade, and a pillar of the global economy. At SSVT, we believe that paint management plays a crucial role in preserving the seaworthiness of vessels. With PANKI, our clients will be able to make their maintenance efforts smoother, and reduce their fuel costs, while being sustainable for the environment in the long run.” Says the CEO of SSVT, Park Jonghyun.

PANKI accelerates the process by 150%, from inspection, and approval, to making clear data-driven decisions in 5 days. By streamlining the painting process, PANKI can improve ship fuel efficiency by 1.5%, resulting in $105,000 of annual fuel savings per ship. Along with the improved productivity from reduced downtime for painting projects, PANKI’s approach towards proactive maintenance can save companies up to $4.5 billion across 10 years.

Leveraging blockchain technology, PANKI provides data transparency for all parties involved. This facilitates smoother communications between shipyards, ship owners, and insurance companies.

SSVT is currently developing PANKI and is targeting April 2023 for the completion of the first version. Additional functions will be added to the platform to allow seamless integration to aid clients from the construction to the operation stages of their vessels.

Hashtag: #SSVT

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

News Direct Reaffirms Its Commitment to Accepting Payment in Cryptocurrency

Norwalk, CT – News Direct – 9 December 2022 – Despite the recent turmoil in the cryptocurrency world, News Direct today announced its intention to continue accepting payment in bitcoin via its partnership with BitPay.

BitPay supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), ApeCoin (APE), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu (SHIB), Euro Coin (EUROC) and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).

News Direct announced that it began accepting remuneration in crypto back in March of this year, and it has proven popular among many of its customers, the majority of which that pay in this manner are businesses engaged in the blockchain and crypto ecosystems.

News Direct Founder and CEO stated “Our continuing commitment to accepting payment in the various, stable cryptocurrencies that are offered through BitPay is simply a matter of providing the best and most seamless user experience to our customers. Our entire platform is about using technology to make workflow more efficient, secure and expeditious and this is just one example of that philosophy”.

Contact Details
News Direct Media Relations
+1 888-797-2735
media@newsdirect.com

Company Website
http://www.newsdirect.com

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

About News Direct

News Direct provides news and content distribution for PR, IR, Corporate Communications and Marketing professionals. Our automated platform delivers a completely-reimagined, intuitive workflow, industry-leading security, transparent, flat-rate pricing and actionable analytics. Further, News Direct has deployed an array of innovation including advanced automation, isolation cloud technology and custom software for the most dynamic, efficient and flexible platform available today. To learn more visit or follow us on , , , or .

American Express Opens Singapore Decision Science Center of Excellence

SINGAPORE – Media OutReach – 9 December 2022 – American Express (NYSE: AXP) today announced it has opened a new Decision Science Center of Excellence (CoE) in Singapore that will deliver global data-driven solutions. The CoE will focus on data science applications in the areas of credit and fraud risk model development and production using artificial intelligence (AI), machine learning (ML), and natural language processing (NLP).

“Singapore is a recognized world-leading financial and technology hub,” said Changbin Wang, Managing Director for the American Express Singapore Decision Science Center of Excellence, “Setting up a global innovation center in Singapore reflects our commitment to continue investing in this country, and we are confident the country’s exceptional and diverse talent will help fuel American Express’ next wave of innovation to better service our global Card Member base.”

“American Express’ Decision Science CoE is an exciting addition to Singapore’s digital industry, presenting more opportunities for talent to apply cutting-edge research methods to solve global-scale and complex issues faced by the industry. We look forward to the exciting outcomes from the CoE which will in turn attract and groom global experts from Singapore,” said Philbert Gomez, Vice President and Head, Digital Industry Singapore (DISG).

Over time, American Express is expected to expand the focus of the Center of Excellence to include cutting-edge research leading to the development of other AI, ML and NLP technology use cases to support the company’s growth aspirations.

Hiring for the Decision Science Center of Excellence

Hiring for the Innovation Lab will begin immediately. The Company is seeking candidates with master’s degrees or PhDs in the areas of mathematics, engineering, finance, computer science, or other equivalent technical programs for data scientist and AI/ML researcher roles. Interested candidates can check here for job listings.
Hashtag: #AmericanExpress

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

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at and connect with us on , , , , and .

Key links to products, services and corporate sustainability information: , , , , , , , , , , , , and .

Investors Prefer Personal Advisors Over Robo or Digital Solutions In Their Wealth Management Journey

SINGAPORE – Media OutReach – 9 December 2022 – A recent wealth management study has found that most investors prefer having a personal advisor over robo or digital solutions.

Navigator Investment Services, an integrated investment platform under Singlife with Aviva, has launched an advisory report in collaboration with EY (Ernst & Young Advisory Pte Ltd) to provide an in-depth look into the global wealth management industry amid disruptive changes.

Titled “Advancing the Art of Advisory: Is Advisory still Relevant?”, the report examines key wealth trends that are redefining how financial advisors engage and serve their clients as well as how they can be of relevance in a digital-first era.

As wealth management becomes increasingly digital in response to the growth of the young, mass affluent segment, the shifting landscape has brought a host of considerations and opportunities that this report addresses. Some highlights of the report include:

A New Generation of Young and Wealthy

In Asia, it is projected that younger generations will inherit US$2.5 trillion (approximately S$3.36 trillion) of family wealth by 2030[1]. With changes in preferences of the younger and digitally savvy generation and increasing competition from the self-serve digital wealth platforms, this calls to question how much of the pie is left for the advisory business.

Human Touch Remains Indispensable

The report finds that 72% of investors prefer to retain the human touch when it comes to advisory services, consisting of advisor-led relationships (35%) and hybrid “phygital (a combination of both digital and physical)” relationships (37%).

This correlates with a 2022 CFA Institute study which found that 66% of retail investors consider their primary financial advisor as their most trusted source for wealth management advice, far surpassing online research (9%) and friends and family (7%)[2].

Honing the Craft of Advisory

Investors say that “trust that their advisors will act in their best interests”, is the top attribute for selecting a wealth management provider (34%). This is followed by the ability to achieve high returns (21%), their commitment to ethical conduct (15%) and whether they were a trusted recommendation (15%). Fees were the least important consideration (7%) suggesting that investors are willing to engage advisors.

The report also revealed that investors are more likely to engage advisors during major life events, such as starting a new business (61%), buying a home (60%), or inheriting money (59%).

Akhil Doegar, Chief Executive Officer, Navigator, said: “While the rate of digital adoption has been increasing, the desire for a greater human touch continues to grow in tandem. Our report validates the value of advisory services as a highly trusted source of advice that will not be easily replaced by self-directed, digital investment options. These observations bode well for financial advisors, but in order to sustain that competitive edge, they will need to address the critical blind spots to truly enhance client value propositions.”

Han Wee Tan, Partner, Ernst & Young Advisory, said: “We believe that the role of advisory remains paramount – particularly in times of uncertainty. Financial advisors play important and diverse roles in their investors’ life: as a consultant across life milestones; a confidant during good and bad times; and a sentinel safeguarding them against emotional investment decisions. Advisory requires dedication, hard work and communication to earn not just superior returns but, importantly, the trust of investors.”

Access the full report here: https://grow.singlife.com/NavigatorEYReport2022


[1] WEALTH-X Preservation and Succession: Family Wealth Transfer (2021)
[2] CFA Institute Investor Trust Study (2022)

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

About Singlife with Aviva

is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.

In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment solutions through its dollarDEX and Navigator platforms. The mobile-first Singlife Account – with a Singlife Debit Card – allows customers to save, spend, earn and be insured all in one app.

First announced in September 2020 and valued at S$3.2 billion, the merger of Aviva Singapore and Singlife was the largest insurance deal in Singapore then and created one of the largest homegrown financial services companies in the republic. Singlife is an official signatory of the United Nations Principles for Sustainable Insurance, affirming its commitment to finding a better way to sustainability.

About Navigator Investment Services Ltd
is a financial services company of the Singlife Group. Navigator enables financial advisers to deliver meaningful advice with insights and content, manage portfolios seamlessly and access a robust range of financial products to better serve their end customers across a holistic wealth journey. Navigator seeks to work hand-in-hand with financial advisers to play a meaningful role in people’s lives and allow them to be better positioned for the wealth opportunities of tomorrow.

Four Killed as Pickup Plunges into River in Oudomxay

Vehicle recovered from river in Oudomxay.

Four people were killed after the driver of a pickup truck lost control and went over a bridge in Muang La district, Oudomxay Province on Wednesday.

YouTube Works Awards Celebrate Creativity, Innovation and Inclusivity

HSBC, Café de Coral and Otsuka Pharmaceutical (H.K.) Ltd. recognised for producing Hong Kong’s most effective marketing campaigns on the platform in 2022

HONG KONG SAR – Media OutReach – 8 December 2022 – YouTube Hong Kong announced today the 2022 winners of the YouTube Works Awards, which celebrate and champion the brilliant minds producing the most innovative and effective campaigns on the platform in the past year. HSBC, Café de Coral, and Otsuka Pharmaceutical (H.K.) Ltd. were recognised across six categories that showcased the best use of YouTube to drive awareness, decision making, and demonstrable business results.

Michael Yue, General Manager, Sales & Operations, Google Hong Kong (middle), and winners of YouTube Works Awards 2022 (from left to right): HSBC, Café de Coral, and Otsuka Pharmaceutical (H.K.) Ltd.

Michael Yue, General Manager, Sales & Operations, Google Hong Kong (middle), and winners of YouTube Works Awards 2022: HSBC, Café de Coral, and Otsuka Pharmaceutical (H.K.) Ltd.

The second annual YouTube Works Awards in Hong Kong, and the first to be held as an in-person event, brought together over 180 advertisers, thought leaders and YouTube creators to celebrate industry excellence and share market insights. In partnership with Kantar and supporting organizations including Digital Marketing Community, iabHK, and The Association of Accredited Advertising Agencies of Hong Kong, 32 judges from diverse backgrounds reviewed over 50 submissions to select this year’s winners across six categories, including a new category that best demonstrates inclusivity in marketing.

Michael Yue, General Manager, Sales & Operations at Google Hong Kong said, “YouTube in Hong Kong continues to go from strength to strength. Not only does it rank first among video platforms for content that is personal and relevant[1], but 77% of local viewers say advertising in YouTube videos makes them more aware of new brands and products[2]. This means YouTube gives brands and businesses the opportunity to be where it matters — on the biggest stage for the world’s most creative stories — creating authentic brand content, engaging with their target audience, and measuring the results that matter most.”

“We are thrilled to be able to come together in person to celebrate HSBC, Café de Coral, and Otsuka Pharmaceutical (H.K.) Ltd., each of whom have created compelling and successful campaigns that harness the deep connection that audiences have built with YouTube, its content and its creators. Their personalized approach to storytelling combined with YouTube’s multi-device, multi-marketing objectives, and multi-form video solutions platform demonstrates the power of reaching an active, engaged audience to drive awareness and inspire action. We commend this year’s winners for their creativity, innovation, inclusivity, and strategic collaborations, and congratulate them on the meaningful results their campaigns were able to deliver.”

2022 YouTube Works Awards winners in Hong Kong

Winner

Agency

Campaign

Award

HSBC

PHD, Wunderman Thompson Hong Kong

HSBC Premier #ThisIsMyFamily

Grand Prix

All In

Better Together

Café de Coral

Carat Media Services Hong Kong, dentsu mcgarrybowen
Hong Kong

A Taste of Togetherness

Best Brand Campaign

HSBC

PHD, Wunderman Thompson Hong Kong

HSBC Buy Now Pay Later

Action Driver

Otsuka Pharmaceutical (H.K.) Ltd.

Fevaworks Solutions (Hong Kong) Limited,
Mill MILK

Keep Watering – Pocari Sweat ion water (Try Once – 7 Days Challenge to Regain Physical & Mental Balance)

Best Collaboration:

Brand and Creator

HSBC [Two winning campaign names: #ThisIsMyFamily and HSBC Buy Now Pay Later]

#ThisIsMyFamily – HSBC Premier

Recognizing the rise of a new generation of affluent customers with different and changing wealth needs, HSBC turned to YouTube to refresh and redefine its Premier brand. The campaign broke away from the bank’s traditional image to depict the unique stories of three atypical families, including a dual-career family, LGBT couple and astronaut family, whose varying wealth needs were supported by HSBC Premier. The thematic videos, starring actors Tommy Chu and Ronald Cheng, and actresses Eliza Sam and Asha Cuthbert, delivered over 3.9 million completed video views on YouTube in total, increased awareness of HSBC Premier’s features by more than 72%, and boosted brand preference by 73%[3] which is much higher than the HSBC average. Its full-funnel strategy with smart use of extended product videos and YouTube’s targeting and data analytics solutions helped drive audiences to the decision-making stage, increasing HSBC’s market penetration.

The campaign won the Grand Prix award as well as the Better Together award. On top of that, the campaign made HSBC the first bank in the Hong Kong financial industry to feature an LGBT couple, earning it the inaugural All In award and a 71% increase in public perception of Premier as “advocating diversity and inclusion”[4].

HSBC Buy Now Pay Later (BNPL)

In its other award-winning campaign, HSBC aimed to solidify its industry-leading position as Hong Kong’s go-to payment solution provider through a four-part mini-series primarily targeting young and mature millennials. “HSBC BNPL Academy” was designed to remind viewers how, when, and where to use the right HSBC payment products while reinforcing HSBC as the top payment solution choice. Leveraging the mass appeal of artist Jan Lamb and Kayan9896 to portray real-life scenarios that resonate, as well as popular KOLs and user-generated content in a full-funnel strategy that tapped into YouTube’s robust targeting options, the campaign amassed views of more than 10 million and drove business momentum with a tremendous increase in BNPL product applications and double-digit growth in approved amount. It also delivered increased engagement, with up to 60% of the audience feeling more positive towards HSBC BNPL products.

“The team understood YouTube capabilities very well and took advantage of them to deliver great results in terms of ads recall and reach, ultimately driving traffic back to the application. Creative was planned with YouTube in mind, combining a fresh mix of KOL and various lifestyle scenarios into bite-size mobile-friendly videos to precisely target a wide range of audience,” said Paul Yuen, a YouTube Works Awards judge and Marketing Director at Mentholatum (Asia Pacific) Limited.

“The awards, granted to HSBC Premier’s #ThisIsMyFamily campaign and HSBC’s 2022 Buy Now Pay Later campaign, validate the importance of using daily life stories of Hongkongers, especially the middle class, to connect with customers and introduce our services and propositions that serve their needs. HSBC is pleased to work with YouTube as the most dominant social media platform to enhance our audience reach and build our brand as one of the leading banks in Hong Kong,” said Brian Hui, Head of Customer Propositions and Marketing, Wealth and Personal Banking, Hong Kong, HSBC.

Café de Coral [Campaign name: A Taste of Togetherness]

Spurred by a mission to boost sales, revitalize its brand, and reconnect with consumers, especially the younger segment, Café de Coral harnessed YouTube’s mass reach and targeting capabilities to deliver a message of inclusivity, togetherness, and happiness. A play on the fast-food brand’s Chinese name meaning “happy together”, “A Taste of Togetherness” comprised three stories of authentic and identifiable moments of togetherness — family love, dating, and friendships — designed to resonate with Hong Kong viewers. The year’s Best Brand Campaign delivered on several fronts, with nearly 14 million impressions and a higher-than-average view through rate of 50% as well as a 22% increase in purchase intent for the 18-year-old+ segment[5].

“‘A Taste of Togetherness’ really encapsulates Café de Coral’s brand values and our promise not only to our customers but also our staff. We were thrilled to be able to share with YouTube viewers a sense of optimism and togetherness, and to fulfill our objective of reconnecting with a younger clientele in Hong Kong,” said William Tsing, Marketing Director at Café de Coral.

“The creative captured the emotion and sentiment of Hong Kong in the post-Covid situation and the product was seamlessly woven into the storyline. YouTube was supportive as a mass platform for the campaign to drive awareness and connect with the younger generation,” said Tom Kao, a YouTube Works Awards judge and CEO at Publicis Group HK.

Otsuka Pharmaceutical (H.K.) Ltd. [Campaign name: Keep Watering – Pocari Sweat ion water (Try Once – 7 Days Challenge to Regain Physical & Mental Balance)]

Seeking to raise awareness for its Pocari Sweat ion water (IW), especially among white-collar workers, Otsuka Pharmaceutical (H.K.) Ltd. tapped popular YouTube creator Mill MILK for a lighthearted branded reality story. The winning entry for Best Collaboration: Brand & Creator capitalized on the fact that the target audience enjoys watching YouTube in their leisure time and successfully delivered the key message that IW helps people achieve balance in their lives. The strategic and creative collaboration garnered 800,000+ views, 10,000+ likes, and a 50% view through rate from skippable YouTube ads.

“This is a meaningful project carried out during the 3rd year of ion water’s launch in Hong Kong, and we are pleased that the campaign has received sound recognition from the YouTube Works Awards. Knowing that down-to-earth KOLs are highly favored by the young, we leveraged the fanbase of Mill MILK to successfully deliver the brand concept that through effective rehydration, ion water restores your body fluid to the most optimal condition and gives you a relaxing and soothing sensation that heals your mind in a lively and light-hearted way,” said Koji Ueda, Managing Director of Otsuka Pharmaceutical (H.K.) Ltd.

“The choice to collaborate with up-and-coming YouTube creator Mill MILK for content curation was clever and set it apart from traditional Pocari thematic videos. In general, collaborating with creators is a good audience segmentation tool for brands and saves time on research for the target audience,” said Paul Yuen, a YouTube Works Awards judge and Marketing Director at Mentholatum (Asia Pacific) Limited.

The event, which took place at PMQ in Central, also featured performances by Hong Kong singers Joyce Cheng and Jay Fung. Find out more about the YouTube Works Awards.


[1] Google/Talk Shoppe, HK, Why Video study, n=2000, A18-64 gen pop video users, Sept. 14, 2021–Oct. 14, 2021
[2] Google/Ipsos, WhyVideo HK 2022 n=1750, A18-64 GenPop viewers of video content min once/week, fielded from 6/21/22-7/2/22
[3] Source: HSBC internal data
[4] Source: HSBC internal data
[5] Source: Café de Coral internal data

Hashtag: #Google #YouTube

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

Mead Johnson Hong Kong Further Incentivizes Formula Can Recycling with the Latest Edition of “We CAN Protect the Future”

Expands collection point network to encourage parents and children to recycle together while earning discounts on everyday items

HONG KONG SAR – Media OutReach – 8 December 2022 – Mead Johnson Hong Kong (“Mead Johnson”) is once again partnering with families to protect the environment. The company is bringing the latest and enhanced edition of the “We CAN Protect the Future” formula cans recycling program on December 13, 2022, through March 12, 2023.

Through a collaboration with HKTVmall and the World Green Organization, Mead Johnson is simplifying green living for parents by expanding the number of collection points to 43 shops across 18 districts. By participating, families can receive e-vouchers for selected formula milk powder and other personal care and hygiene products, taking their first step towards a sustainable lifestyle. Mead Johnson remains committed to its sustainability agenda and will maintain momentum in protecting the environment with many similar initiatives, all with a single agenda: making green living an accessible choice for all.

Mead Johnson launched Hong Kong’s first formula can recycling program in 2021. Recycling 8,200 formula cans throughout the campaign so far, the city-wide program reduces environmental impact and encourages parents to lead by example in teaching children about clean recycling. The highly acclaimed program has received tremendous support from parents and immense recognition from the industry.

To participate in the program, Hong Kong residents can bring clean formula cans to 43 designated HKTVmall O2O shops every Tuesday, Thursday and Sunday throughout the program period. Regardless of their formula milk brand, participants will receive HKTVmall e-vouchers[1] to enjoy discounts on formula milk and daily necessities, including Dettol’s health protection products. In its new and improved avatar, the ‘We CAN Protect the Future’ initiative has set up new collection points in densely populated areas. With additional collection days scheduled on weekends, the program offers a fresh opportunity to parents to recycle conveniently during their shopping trips, a significant step towards encouraging green living.

“Since the launch of the program in 2021, we have been educating the public the concept of clean recycling and encouraging children to develop good recycling habits that will last. The latest edition of ‘We CAN Protect the Future’ program brings more collection dates and locations with a wider variety of rewards to encourage more parents to join the clean recycling drive and practice sustainable living.” said Mr Pankaj Agarwal, General Manager, Hong Kong, Taiwan & Cross-Border of Mead Johnson Nutrition (Hong Kong) Limited.

Ms. Jelly Zhou, Chief Executive Officer (Hong Kong) at Hong Kong Technology Venture Company Limited, said, ” HKTVmall is working seamlessly in promoting environmental protections, encouraging sustainable lifestyle, and bringing positive impacts to the society. With the same mission, we are delighted to partner with Mead Johnson and participate in the program once again, with eight new O2O shops added to the collection point network. In addition, these collection points will accept can collection on Sundays for the first time, making it even more convenient for busy working parents to practice clean recycling. We believe these incremental steps will encourage more parents to join the initiative through our extensive O2O network across Hong Kong.”

[1]The first e-vouchers distribution period begins from 13 December 2022 to 12 March 2023 and the vouchers are valid from 12 December 2022 to 19 March 2023. During the campaign period, participants will receive two e-vouchers (HK$25 discount on HK$400 spending on select Mead Johnson’s products in official store; and HK$25 discount on HK$200 spending on select products at Dettol, Finish, Vanish, MoveFree, Lysol official store) upon returning one cleaned formula can. Each person can redeem at most 4 vouchers per day. The voucher will be distributed on a first come first served basis while quantities last. For further details please check with the on-duty staff. All offers are subject to relevant terms and conditions. All e-vouchers are not applicable to stage 1 infant formula. Terms and conditions: https://bit.ly/3h3rqXu / https://bit.ly/3VCio2z

Hashtag: #MeadJohnsonHongKong

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

About Mead Johnson Nutrition (Hong Kong) Limited

Mead Johnson Nutrition has been established for more than a century. Since its founding in 1905, the renowned infant and child nutrition brand has led the way in developing science-based pediatric nutrition products, guided by the mission to nourish the world’s children for the best start in life. Currently, Mead Johnson Nutrition provides more than 70 products in over 50 countries.

Excellent quality has helped Mead Johnson Nutrition earn the trust of nutritionists and parents. Its dedicated and rigorous approach, continuous innovation, tireless pursuit of excellence, and caring feedback to the community have also helped establish a good brand image.

Mead Johnson Nutrition (Hong Kong) Limited has been in Hong Kong for over half a century. It provides Hong Kong parents with high-quality, science-based products, various parenting information, and professional advice, gaining trust and support from parents.

Mead Johnson Nutrition’s scientists and healthcare professionals are focusing their efforts on the formula for children with special nutrition needs. Mead Johnson Nutrition is one of the very few brands that insists on producing the formula for children with special needs, giving them hope.

For more information, visit

About HKTVmall

HKTVmall is the largest 24-hour online shopping mall in Hong Kong and a wholly-owned subsidiary of Hong Kong Technology Venture Company Limited (SEHK: 1137). HKTVmall provides one-stop shop services including online shopping, marketing & digital advertising, big data analysis, smart logistics & fulfilment as well as physical O2O stores, and to transform all business operation, trading, retail, finance and daily life onto a single digital online platform to establish a unique digital ecosystem. For more information, visit www.hktv.com.hk.

About World Green Organisation

The World Green Organisation (WGO) is an independent non-governmental organization concerned with environmental conservation and environmentally related livelihood and economic affairs. It provides a holistic approach to a fully integrated three-pronged solution that combines social, environmental, and economic dimensions for a paradigm shift towards low-carbon and climate-resilient development pathways.

Through science-based policy research and community projects, the WGO aims to enhance the quality of the environment, promote a greener economy, and improve people’s livelihoods. In particular, it will focus on the social concerns of underprivileged groups and on the creation of a green economy to help realize its vision of sustainable development.

For more information, visit www.thewgo.org/website/eng/.

Salaries in Southeast Asia Expected to Increase in 2023, Aon Survey Reveals

SINGAPORE – Media OutReach – 8 December 2022 – Aon plc (NYSE: AON), a leading global professional services firm, today released insights from its 2022 Salary Increase and Turnover Study for southeast Asia (SEA), revealing that salaries in the region are expected to increase slightly for 2023 compared to 2022. The study was conducted in the third quarter of 2022, surveying the salary changes and turnover rates of more than 700 companies across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Median salary increase budgets are forecasted across industries at 6.8 percent for Indonesia 5 .1 percent for Malaysia, 6 percent for the Philippines, Singapore at 4.7 percent, 5.1 percent for Thailand and 7.9 percent for Vietnam.

Caption

While inflation plays a significant role in how salary changes look across the region, they are also driven by supply and demand in the talent market. High attrition rates across southeast Asia in 2022 are putting pressure on firms to use compensation measures to tackle hiring and retention challenges: 15.9 percent in Indonesia, 14.9 percent in Malaysia, 18 percent in Philippines,19.6 percent in Singapore, 15.4 percent in Thailand and 15.2 percent for Vietnam.

Rahul Chawla, partner and head of Human Capital Solutons for southeast Asia at Aon said, “While it is critical for businesses to define and adapt pay for different worker types and the nature of the work, organisations must stay agile as they rethink their pay principles. Businesses need to shape their strategies towards long-term drivers of pay and performance by making changes in a phased manner to optimise pay effectiveness. In addition, companies must define their 2023 salary increase approach in the context of the competitiveness of their current salary levels and employee value proposition. Companies that adopt a skill-based compensation programme will help ensure they can continue to build future skills for their organisation’s resilient workforce.”

The survey further revealed that salary increases in 2022 varied across industries across the region, with the retail industry having the highest increases (6.5 percent), followed by technology and life sciences (6.1 percent) and financial institutions (5.9 percent). The ongoing technology and digital skills shortage across the region as a consequence of firms competing to accelerate transformation and drive their digital initiatives resulted in higher year on year increases in salaries and total compensation for technology and data analytics roles compared to others. However, with the recent reports of a potential global economic slowdown, firms are taking a cautious approach and focusing on salary increases for selected employee groups or levels as they navigate a volatile and uncertain environment.

Alina Cheng, senior consultant, Human Capital Solutions for southeast Asia at Aon said, “With the rise of fintech and digital banks in the region, roles in areas such as risk, compliance and talent acquisition are in demand. Firms are paying a premium to attract new talent at the junior and middle management levels for these roles. As a result, over the past two years, we have seen compensation structures shifting towards lesser variable and pay at risk and an increased focus on salaries.There is no one-size-fits-all approach for developing a salary increase strategy in a volatile environment. Employers must constantly analyse the market, study the available data and contextualise the unique circumstances of their industry and organisation to make better and more informed decisions.”

To access the study visit 2022 Salary Increase and Turnover Study. More information about Aon in Asia is available here.

Hashtag: #Aon

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

About Aon

(NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries/territories with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

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