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Vietnam to Repair Highway Connecting it to Laos, Cambodia and Thailand

Vietnam prepares vehicles to repair Vietnam's National Road 14 E. ( Photo: VNA/VNS Trần Tĩnh).

Vietnam has launched a project to repair and expand roads connecting its central region to the neighboring countries of Laos, Cambodia, and Thailand.

NGT’s Fully Intuitive Integrated AI Application System Officially Enters Public Testing in Hong Kong as the City’s First of its Kind

Collaborate with Indigenous Businesses and Leverage the AI-tech Agitation to Accelerate Local Digital Transformation

HONG KONG SAR – Media OutReach – 13 March 2023 NextGen Tech (“NGT” or “the Company”), a leading technology service company in Hong Kong with a pioneering advantage in artificial intelligence (“AI”), is pleased to announce that YOTTA, developed by NGT’s core AI technology team, the first integrated and fully smart AI application system in Hong Kong, officially entered public testing to provide technology service. The trial phase primarily targets enterprise users, promoting and assisting them to promptly adapt and implement business process automation, enhancing their operational efficiency and productivity while reducing operating costs, with a long-term prospect of driving the digital transformation of local businesses.

NGT has developed and launched Hong Kong’s first integrated and fully smart AI application system, YOTTA

NGT boasts YOTTA as a pioneering and practical AI solution with practical, intelligent, and innovative features. Drawing on the highest international standards of AI operations, the NGT team has combined global best practices with local insights to create an AI solution that “caters specifically to the usage habit of Hong Kong users”. YOTTA can efficiently process and filter vast amounts of data, completing routine tasks and production processes according to precise market demands and personal user instructions, so as to optimize human resources and cost structures, while helping users make informed decisions. This AI platform records and analyzes existing business performance indicators, then compares them to ideal scenarios to offer timely and relevant advice on strategy adjustments, ultimately enhancing operational efficiency and driving business success.

Personalized Intelligent System Brings the Best Customer Service Experience

According to the NGT official information, YOTTA can recommend personalized products or services to target users and customers by using AI technology to analyze their specific preferences. It can also suggest appropriate music, movies, books, and exhibitions based on user favor. Users can use its intelligent search function to access more information. The built-in search engine has been upgraded with AI technology, significantly improving the relevance and accuracy of search results, with faster search speed and more abundant content display. The intelligent customer service system that derives from this mechanism can automatically answer customer questions and provide corresponding technical support after exploring particular situations. Meanwhile, YOTTA continues to learn and enhance its natural language processing (NLP) logic to empower its cognitive, understanding, and abilities to generate, providing users with more reliable and tailored services.

Automating Business Processes: A Cost-effective Solution for Streamlining Operations and Boosting Profitability

Harnessing NGT’s advanced proprietary algorithms and data analysis advancement, YOTTA’s AI technology integration can be widely applied in fields such as software, web, and mobile applications. It is capable of achieving task and process automation, providing personalized recommendations, and improving overall operational efficiency. Common manifestations of YOTTA’s AI technology include Chatbots, which can simulate conversations, handle user queries, and support customer service; Recommendation Engines, which benefit from “machine learning” algorithms to learn user preferences and behaviors and then apply them to various scenarios, including e-commerce, content streaming, and social media; and Predictive Analytics Tools, which provide general predictions by analyzing large datasets, covering areas such as finance, healthcare, and supply chain optimization.

For general industries, AI technology can significantly facilitate or supplant the processing of repetitive and cumbersome mechanical tasks, such as template writing, spreadsheet creation, information collection and organization, data and document classification and management, basic modeling, and programming code writing. YOTTA’s language processing model adopts automated chatbots and virtual assistants to handle question-and-answer tasks, which can efficiently reduce customer service costs and improve user experience. In addition, YOTTA’s analysis model can be used in the early stage of digital marketing to analyze the consumption emotions of target customers through social media, generate high-quality marketing content, and then carry out personalized push. Nowadays, in the e-commerce-dominated retail and fast-moving consumer goods (FMCGs) markets, using YOTTA’s AI models can not only recommend products to consumers but also provide businesses with the greatest benefit of automating inventory management, inventory count and sorting, as well as strengthen fraud monitoring and warning in online transactions.

The launch and trial of YOTTA entirely demonstrate NGT’s professionalism and proficiency in developing and delivering cutting-edge AI products and related services. It showcases the core team’s deep understanding and adept use of this emerging technology logic. In the future, NGT will maintain its passion for researching and investing in the field of technological innovation, continuously iterating its understanding and refining its products to provide customers with excellent innovative technology services and state-of-the-art concepts.

Mr. Francis Leung, CEO of NextGen Tech, believes that “AI has a considerable commercial history, and in the next few years, it will be a trend to replace some labor-intensive jobs with AI technology. NGT’s active promotion of ‘YOTTA’ in commercial scenarios is aimed at helping companies capably improve their business performance and operational results, elevating two-way communication with customers, enriching overall user experience, and conserving management resources. AI can screen and ameliorate the competency of employees, restructure the human resources framework, and inspire companies to recruit the best-suited candidates for critical positions. In this era of emerging technological change in the business landscape, NGT hopes to trailblaze AI utilization in Hong Kong, create new business interaction scenarios, promote corporate exploration and adaptation of new business models, hasten digital transformation, as well as better connect and keep pace with the mainstream international arena.”

Hashtag: #NextGenTech #NGT

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

About NextGen Tech

Established in 2019, NextGen Tech (NGT) is a technology service (TecService) company with exclusive advantages of artificial intelligence and innovative technology, specializing in first-class AI projects with practicality and intellectuality. By integrating top-notch know-how and insiders in the industry, the Company renders the market with leading bespoke AI-powered services. Its ground-breaking solutions include Machine Learning, Content Creation, Personalized Algo, Business Automation, etc.

The core technical team of NGT comprises Hong Kong’s foremost and senior adepts possessing professional basements covering multiple subfields of artificial intelligence. NGT has also amassed solid and sophisticated experience in the Blockchain tech realm. At the time, as a leading one-stop blockchain application project incubation company in Hong Kong, NGT actively advocated using technological innovation to engine marketing reform, establishing a distinct industry leadership position.

Drawing on the extensive expertise and multidimensional innovation of its primary team in the TecService industry, NGT is dedicated to developing a comprehensive ecosystem that implants AI sense into personalized business solutions and drives the widespread adoption of AI in both civil and commercial settings.

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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.

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