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PROPEL HONG KONG: Hong Kong Maritime Week 2022 Unveiled

HONG KONG SAR – Media OutReach – 22 November 2022 – The opening ceremony of Hong Kong Maritime Week 2022 (HKMW 2022), a major annual event of the maritime and port industries in Hong Kong, was held today (November 21), bringing together industry leaders, government officials and scholars in both physical and online mode.

Caption The opening ceremony of Hong Kong Maritime Week 2022, a major annual event of the maritime and port industries in Hong Kong, was held today (November 21). Photo shows the Chairman of the Hong Kong Maritime and Port Board (HKMPB) and the Secretary for Transport and Logistics, Mr Lam Sai-hung (centre), together with the Permanent Secretary for Transport and Logistics, Ms Mable Chan (fourth left); the Director of Marine, Ms Carol Yuen (third left); the Chairman of the Promotion and External Relations Committee of the HKMPB, Miss Rosita Lau (fourth right); the Chairman of the Maritime and Port Development Committee of the HKMPB, Mr Bjorn Hojgaard (third right); the Chairman of the Manpower Development Committee of the HKMPB, Mr Willy Lin (second right); the Chairman of the Hong Kong Shipowners Association, Mr Wellington Koo (second left); the Deputy Secretary General of the International Chamber of Shipping, Mr Simon Bennett (first left); and the Director of Hong Kong Maritime Museum, Professor Joost Schokkenbroek (first right), officiating at the ceremony.

The opening ceremony of Hong Kong Maritime Week 2022, a major annual event of the maritime and port industries in Hong Kong, was held today (November 21). Photo shows the Chairman of the Hong Kong Maritime and Port Board (HKMPB) and the Secretary for Transport and Logistics, Mr Lam Sai-hung (centre), together with the Permanent Secretary for Transport and Logistics, Ms Mable Chan (fourth left); the Director of Marine, Ms Carol Yuen (third left); the Chairman of the Promotion and External Relations Committee of the HKMPB, Miss Rosita Lau (fourth right); the Chairman of the Maritime and Port Development Committee of the HKMPB, Mr Bjorn Hojgaard (third right); the Chairman of the Manpower Development Committee of the HKMPB, Mr Willy Lin (second right); the Chairman of the Hong Kong Shipowners Association, Mr Wellington Koo (second left); the Deputy Secretary General of the International Chamber of Shipping, Mr Simon Bennett (first left); and the Director of Hong Kong Maritime Museum, Professor Joost Schokkenbroek (first right), officiating at the ceremony.

Caption

The opening ceremony of Hong Kong Maritime Week 2022, a major annual event of the maritime and port industries in Hong Kong, was held today (November 21). Photo shows the Chairman of the Hong Kong Maritime and Port Board and the Secretary for Transport and Logistics, Mr Lam Sai-hung, giving a speech at the ceremony.

The week-long HKMW 2022, organised by the Hong Kong Maritime and Port Board (HKMPB) from November 20 to 26, promotes to the globe Hong Kong as a preferred base for maritime business through a series of activities. The event also raises the community’s awareness of the economic contributions of Hong Kong’s maritime and port industries.

The Chief Executive, Mr John Lee, said in a pre-recorded speech at the opening ceremony, “The National 14th Five-Year Plan champions Hong Kong’s status as an international shipping centre. That includes the development of high-value-added maritime services for better integration into our country’s overall progress and, more specifically, Hong Kong’s place in the development of a world-class port cluster. In my Policy Address last month, I stated that we will fully capitalise on our position as a high-value-added maritime services centre and an important transshipment hub in the Asia-Pacific region.”

Officiating at the opening ceremony, the Chairman of the HKMPB and the Secretary for Transport and Logistics, Mr Lam Sai-hung, said, “It is of the utmost importance to keep the maritime cluster vibrant. The Government will continue to take proactive measures to fuel the development of the maritime industry. Some examples include implementing tax concessions for shipping enterprises, the smart port initiative, and new schemes for maritime manpower development. At the same time, we will always take advantage of community efforts to tell our good stories and showcase Hong Kong’s unique strengths. There is no better opportunity to do so than the HKMW.”

A number of signature activities of HKMW 2022 are worth highlighting. The international Asian Logistics, Maritime and Aviation Conference comes with the theme “The Future of the Sustainable Supply Chain: Connectivity.Collaboration.Innovation”. HKMW Orienteering Race 2022 is a prized competition in which participants have to reach multiple designated locations within a time frame of four hours and be tested with quizzes on maritime knowledge to win prizes. Mare Forum, an international maritime event organiser, and Seatrade Maritime News, a media outlet specialising in maritime news, will respectively hold webinars to deliberate with the industry on topics such as high-value-added maritime services and maritime technology in Hong Kong. The Economist Impact will also chair a seminar entitled “World Ocean Summit Asia-Pacific Insight Hour”, engaging practitioners to share their views on the progress and plans of the maritime industry as well as their insights on global trends, variations and strategies of decarbonisation.

Some 40 more activities, organised by local, Mainland and international marine institutes in support of HKMW 2022, will also take place seven days in a row. The themes range from building up the maritime talent pool, Guangdong-Hong Kong-Macao Greater Bay Area development, education and careers, green shipping, maritime technology, ports and logistics, shipping and maritime to high-value-added services such as marine insurance, maritime law and arbitration, ship finance and ship management.

HKMW is in its sixth edition this year. Co-organisers of the event are the Hong Kong Shipowners Association and the Hong Kong Maritime Museum, together with the Hong Kong Trade Development Council and Invest Hong Kong as partners. For more details of HKMW 2022, please visit www.hkmw.hk.

Elderly Man Beaten to Death by Neighbor in Vientiane

The family of the victim during his funeral | Photo Credit: T'tee Sbh on Facebook

A former police officer was beaten to death with a wooden board by his neighbor while he was taking part in an alms-giving ceremony. His son took to social media to seek justice for his deceased father.

2022 Citi Residential Property Ownership Survey

The proportion of respondents who considered now a good time to buy a property hit a 10-year high with a lower proportion expecting property prices to rise

HONG KONG SAR – Media OutReach – 22 November 2022 – Citi Hong Kong conducted a survey in September 2022 on residential property ownership in 2022. According to the survey results:

  • The proportion of respondents who expressed optimism about property prices in the coming 12 months plunged to 12% in Q3 this year, compared with 38% in the same period last year. More than half of the respondents expected property prices to fall in the coming 12 months.
  • The proportion of respondents who considered now a good time to buy a home soared nearly fourfold compared with the same period last year, hitting a 10-year high.
  • While a higher percentage of respondents considered now a good time to buy a property, the proportion of respondents wanting to purchase a property at the moment only slightly increased by 2%, reflecting a wait-and-see attitude towards home ownership.
  • The proportion of respondents who toured properties over the past month was little changed from last year, with over 70% of this group of respondents expressing interest in buying a property.
  • Among the respondents with home buying needs, more than 60% put the market price of a property best suited to their needs at around $6 million or below.
  • More than 30% of the parent respondents surveyed expressed a willingness to help finance their children’s property purchase. Of these respondents, more than 40% are willing to provide their children with financial support ranging from $1.01 million to $2 million.
  • Respondents interested in home ownership expressed a preference for mortgages with a long repayment term most, followed by mortgages with a high loan-to-value (LTV) ratio.
  • More than 90% of the respondents expressed a willingness to pay a higher price for first-hand properties. Of this group of respondents, 40% expressed a willingness to pay a premium of 10% to 20%.


51% of respondents bearish about property market; percentage of respondents who consider now a good time to buy a home up fourfold to 16%

Q3 2022 saw a sharp decline in the proportion of respondents who expressed optimism about home prices. Only 12% of the respondents expected property prices to rise in the coming year, compared with 51% who expected otherwise. 16% of the respondents considered now a good time to buy a home, a percentage four times higher compared with the same period last year and the highest level in recent 10 years. Compared with their more bullish counterparts, respondents expecting property prices to remain stable or decline in the coming year were more inclined to see now as a good time to buy a property.

While a higher proportion of respondents considered now a good time to buy a property, this seemed to have little impact on the desire for home purchase among the respondents. The ratio of respondents interested in buying a property increased slightly by two percentage points to 15% from 13% in the same period last year, reflecting a wait-and-see attitude towards home ownership. Of the respondents interested in buying a property, more than 60% said they would hold back on home purchase until prices have eased further, preferably by an average of 17%, to an optimal level. 7% of the respondents toured properties during the month before they were interviewed, a figure little changed from the same period last year. Of this group of respondents, 72% expressed interest in buying a property.

588,000 Hong Kong people estimated to have home buying needs; more than 30% of parent respondents willing to help fund their children’s home purchase

Based on the survey results, showing that 14% of respondents have home buying needs, an estimated 588,000 people are conscious of the need to buy a home. Of the respondents who want to buy a home, 63% considered a property priced at below $6 million as being most suitable to meet their actual needs, with the majority of them putting the desirable price range at between $4 million and $6 million.

Regarding the reasons behind their intent to own a home, the willingness among local parents to give their children financial support to buy a home has come out as the third most important factor after “property price” and “actual housing needs”. Of the parent respondents, 32% expressed a willingness to give financial assistance to their children to buy a home. Of this group, 41% are willing to contribute between $1.01 million and $2 million.

Preference for long-term mortgages and first-hand properties

Home buyers tend to favor a “long mortgage repayment term,” a “high LTV ratio,” and a “high loan amount.” Across all age groups, respondents interested in home ownership prefer mortgage loans with a long repayment term, followed by a mortgage loan with a high LTV ratio. Regarding the choice of residential properties, 91% of the respondents would go for new properties, for which 41% of this group are willing to pay a premium of 10% to 20%, compared with 18% who are willing to pay 20% to 30% more.

The Residential Property Ownership Survey was conducted in September this year. Economic pressure amid the pandemic, coupled with the increasingly heavy burden of loan repayment due to rising mortgage interest rates, as well as stringent stress tests, has directly impacted the demand for property among end-users and investors alike, inevitably dampening property prices and understandably contributing to a widely-held bearish view on the property market. Looking ahead, despite the continued downside potential of local home prices, hopes for relaxation of the current cooling measures may stimulate new demand and avoid excessive correction of Hong Kong’s property market.

How do you think home prices will trend in the next 12 months?
Percentage of Respondents
Q3 2020 Q3 2021 Q3 2022
Upward 23% 38% 12%
Flat 34% 37% 37%
Downward 43% 25% 51%
If you do not own any property now, taking your current standard of living and family finances into consideration, do you think it is a good time to purchase a home now?
Percentage of Respondents
Q3 2020 Q3 2021 Q3 2022
A good/an excellent

time to purchase

10% 4% 16%
Neutral 36% 41% 51%
A bad/terrible

time to purchase

54% 55% 34%
How interested are you in purchasing a property now?
Percentage of Respondents
Q3 2020 Q3 2021 Q3 2022
Very/rather
interested
17% 13% 15%
Neutral 28% 33% 41%
Very/rather
uninterested
55% 54% 44%

“The survey results reflect a wait-and-see attitude among the public towards the property market in 2022,” said Josephine Lee, Head of Retail Bank at Citi Hong Kong. “We can expect to see continued impact on future property prices from the economic situation and rising mortgage interest rates, among other factors. Those who are looking to buy a home should assess their personal financial condition comprehensively and the potential risks of higher interest rates. They should also seek an appropriate mortgage plan or consider a mortgage insurance program, while adjusting their investment portfolio in different market situations to accumulate wealth. This can help to empower them to realize their aspirations for home ownership sooner.”

Citi Hong Kong commissioned the Chinese University of Hong Kong and Acorn Organization Limited to conduct the survey, interviewing a random sample of more than 1,000 Hong Kong citizens in September 2022 via telephone and street interviews. Since 2010, Citi Hong Kong has been conducting surveys of the Hong Kong housing market to assess the current state of home ownership in the SAR, gauge public intentions toward home ownership, and track public expectations of future housing price trends.

Source: 2022 Citibank Residential Property Ownership Survey

Press HERE to download high-resolution news photos.

Josephine Lee, Head of Retail Bank at Citi Hong Kong (Left) and Mr Kit Chow, Head of Research and Insight at Citi Hong Kong (Right) shared insight of the 2022 Citi Residential Property Ownership Survey with media.

“The survey results reflect a wait-and-see attitude among the public towards the property market in 2022,” said Josephine Lee, Head of Retail Bank at Citi Hong Kong

Josephine Lee, Head of Retail Bank at Citi Hong Kong, is answering questions from the media.

Hashtag: #Citibank

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

About Citi

Citi is a pre-eminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at | Twitter: | YouTube: | Blog: | Facebook: | LinkedIn:

Tia Lee Yu Fen (李毓芬) Drops Trailer for Her 6-Episode Animation Series

LONDON, UK – Media OutReach – 22 November 2022 – Tia Lee Yu Fen (李毓芬), Asian pop queen and acclaimed actress, returned to Instagram with a stunning trailer for her first animation project after mysteriously deleting all her IG posts earlier this month. The teaser, which offered an enticing preview of her upcoming 6-episode animation series, left fans in awe and with plenty to be excited about.

In the 17-second animation teaser released, fans got a first glimpse of Tia Lee’s first animation project, an upcoming six-episode series illustrating her full emotional journey before turning a new chapter in her life with her new song release later this year. As Tia remains secretive about the ins and outs of the new project, fans continue to wait eagerly and search for new traces and hints on her social media accounts.

First animation episode titled “Falling in the Deep” is already released on Tia’s social channels on 11 Nov 2022. Check it out on Tia Lee’s YouTube channel.

Animation teaser is also available on Tia Lee YouTube Official Channel: https://youtu.be/32aLDaBUPl4

Tia Lee Official Channels:
Instagram @leeyufen: https://www.instagram.com/leeyufen/
YouTube: https://www.youtube.com/@tialeeofficial/
Facebook: https://www.facebook.com/leeyufentialee/
Weibo: https://weibo.com/u/1396928042/

Hashtag: #TiaLee

About Tia Lee Yu Fen:

Tia Lee Yu Fen (李毓芬), born in Taipei, is an Asian pop singer, film and television actress, model, and former member of the girl band Dream Girls. In addition to her acting roles and musical career, Tia appears frequently at major fashion shows. As a fashion icon and trend-setter, Tia has graced the covers of fashion, beauty and lifestyle magazines such as Vogue, Elle, Marie Claire, and shares her beauty and fashion tips through a number of Vogue’s social media channels.

MRC Public Forum to Discuss Development Challenges, Seek Joint Solutions

Photo credit: Mekong River Commission

The Mekong River Commission will soon host its 13th Regional Stakeholder Forum, in which the MRC will not only provide updates on hydropower projects along Southeast Asia’s largest river but will feature the deepening cooperation with activists who speak for the interests of millions of fishing and farming families in the Mekong.

Hantec Financial set on further global expansion into African markets

HONG KONG – Media OutReach – 22 November 2022 – Hantec Financial an award-winning brand, under Hantec Group, officially announced its ongoing global expansion into Rwanda. Hantec offers its prestigious financial services and opens the doorway to new global trading opportunities.

PR-HF.jpg

Global regulated and offering diversified financial service

Hantec with over 30 years of experience and authorized with 12 regulatory licenses, is constantly exploring opportunities to expand its business to new markets. The group is now present in 19 cities across 14 countries worldwide, covering Greater China, Thailand, Vietnam, Japan, Australia, the UK, Europe, South America, the Middle East, Africa etc. Also offers a variety of financial assets including forex, CFDs, commodities, indices and US stocks with competitive spread and leverage.

A credible brand to ensure fund safety and secure trading

Hantec Financial as a trusted financial service provider believes in the power of technology to protect customer assets and improve service levels, it continuously optimizes its platform by keeping up with changes in the market and adapting to investor preferences.

The team has obtained the ISO 27001 and ISO 20000 international certifications. It ensures that Hantec Financial meets the international security level in the power of protecting customer assets and offers a smooth, stable, and safe trading experience for investors.

Hantec Financial strive to deliver professional localized financial services for all

In 2022, Fxdailyinfo.com awarded Hantec Financial as “Best Forex Broker APAC” at the Broker Awards 2022 to recognise its professional and excellent financial services in the APAC region. Hantec Financial has the expertise and experience to make high-quality investment services for all people.

“Expanding the footprint into Rwanda and the rest of Africa enables us to offer more international trading opportunities for our valued clients,” said Freddy, CEO of Hantec Group. Hantec Financial also draws up a highly localized approach by cultivating local teams, and integrating local culture into its operations, to serve investors and clients from all over the globe.

About Hantec Financial: https://hantecfinancial.com/

Hashtag: #HantecFinancial

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

FWD and JAHK’s JA SparktheDream programme reached around 1,400 primary school students since its launch in May 2022

The programme aims to develop students’ financial literacy at early ages, inspire them to be agents of change socially and empower them to make informed decisions at different life stages

HONG KONG SAR – Media OutReach – 22 November 2022 – JA SparktheDream, a financial literacy education programme focused on educating minds as well as helping children build and realise life goals through financial literacy and social innovation was launched by Junior Achievement Hong Kong (JA Hong Kong) and FWD Hong Kong (“FWD”) in May 2022, which has since reached around 1,400 primary school students in Hong Kong.

Caption
FWD volunteer-led session – Guided by caring volunteers, students were able to learn basic financial concepts and budget management to become financially-capable citizens.

Supported by FWD, JA SparktheDream aims to develop children’s financial literacy at an early age through close collaboration with primary schools, parents and corporate volunteers. The programme aims to nurture the next generation to become financially literate, innovative and socially minded who are able to take charge of their future.

Caption
Social innovation plans to live their dreams – Students unleash their creativity through different social innovations, allowing them to play a leading role in creating a better community for a better community.

Paul Tse, Chief Marketing and Digital Officer of FWD Hong Kong and Macau said, “Financial knowledge is becoming ever more essential nowadays, particularly at a young age. We’re delighted to partner with JA Hong Kong to launch the JA SparktheDream programme which aims to develop children’s financial literacy at an early age, inspire children to be agents of change socially and empower them to make informed financial decisions at different life stages. This partnership also strengthens the engagement between our employees and insurance agents, and the community as our volunteers teach students the basics of financial planning which in turn, encourages them to give back to society. We look forward to expanding this programme with JA Hong Kong to reach even more students in Hong Kong.”

Dr. William Lo, Chairman of JA Hong Kong said, “JA SparktheDream is a hands-on learning journey for students to develop essential financial capability, social awareness and life skills that are not covered in the regular school curriculum. We are glad that the students are motivated to come up with their creative social innovation ideas to promote financial wellness and bring about positive changes in our society. Our sincere gratitude to FWD for working with us in launching this impactful education initiative in Hong Kong and expanding to seven markets in the Asia Pacific region next year.”

Close to 1,400 primary school students have learnt financial management and contribute to society

Since its launch in May 2022, the programme has served close to 1,400 primary four to six students in Hong Kong and provided over 9,700 experiential learning hours on financial literacy. The programme was supported by around 60 FWD volunteers to equip students with the skills and mindsets they need to become financially capable over the long-term.

JA SparktheDream organised:

  • engaging volunteer-led workshops;
  • extended learning through an interactive online platform;
  • family games;
  • community sharing; and
  • a regional student exchange event organised to further encourage students to enhance their financial management skills in a gamified environment

JA SparktheDream Social Challenge 2022 helping to unleash creativity

As part of the programme, the students were encouraged to work in teams to participate in the JA SparktheDream Social Challenge 2022 taking place in early November. The challenge aims to unleash creativity in students and develop their empathy towards society. Entries include a robot for talent matching, neighbourhood support for working parents, and a mobile app for wet market stores to facilitate shopping. The five outstanding teams will be selected to represent Hong Kong at the regional challenge on 23 November 2022 (Wednesday) to exchange their financial management learnings and creative social innovations with students from Singapore.

Key education initiative to benefit over 25,000 students across Asia Pacific

JA SparktheDream was launched in Hong Kong and Singapore this year and will be expanded to Japan, Thailand, Indonesia, the Philippines and Vietnam in 2023. The programme aims to reach over 25,000 students across Asia Pacific, as well as their families and communities by 2024.

Programme details and school application: https://hk.jasparkthedream.org/

Download photos at this link: https://bit.ly/JA_SparktheDream

Hashtag: #FWD

About FWD Hong Kong & Macau

FWD Hong Kong & Macau are part of the FWD Group, a Pan-Asian life insurance business with approximately 10 million customers across ten markets, including some of the fastest-growing insurance markets in the world.

It offers life and medical insurance, employee benefits, and financial planning. FWD Macau provides a suite of life and medical insurance.

FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.

For more information about FWD Hong Kong & Macau, please visit WWW.FWD.COM.HK and WWW.FWD.COM.MO.

About JAHK

JA is a charitable organisation dedicated to inspiring and preparing young people to succeed in the global economy. In partnership with the business and education communities, JA encourages young people to participate in a range of activity-based education programs to understand the world of work and develop their entrepreneurship, career readiness and financial health. Since 2001, JA has engaged over 28,000 business volunteers to serve over 420,000 students. The JA worldwide network now serves over 10 million students a year in over 100 countries. Please visit for more details.

Authorities Clean Up Untidy Luang Prabang Night Market

Night market in Luang Prabang (Photo: Roam taking photos).

Luang Prabang night market was reorganized to avoid congestion and crowding by visitors in the high season.