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China and Laos Inaugurate Saysettha Low-Carbon Demonstration Zone

China and Laos Inaugurate Saysettha Low-Carbon Demonstration Zone
China and Laos Inaugurate Saysettha Low-Carbon Demonstration Zone (Photo: CGTN)

The Vientiane Saysettha Low-Carbon Demonstration Zone was officially inaugurated on Friday by video conference.

DiscoverLaos Partners with LUMA Insurance for ASEAN Travel Pass

The COVID-19 pandemic in 2020 altered many aspects of travel. The need for travel insurance has become more apparent in recent years as destinations reopen and travelers regain their confidence. To best help travelers prepare for their next trip, DiscoverLaos and the Luma ASEAN Pass will help you find the right coverage for your personal travel plans.

Two French-Lao Athletes to Compete for Homeland at SEA Games

Two French-Lao athletes and Lao ambassador to France.

A French tennis player and a kickboxer have been conferred with Lao passports in order to compete at the upcoming SEA Games 2021 in Hanoi, Vietnam. 

Prudential Singapore and NTUC Income in partnership to ensure better preparedness for long-term care amongst Singaporeans

The partnership is significant as Singapore has one of the highest life expectancies in the world

SINGAPORE – Media OutReach – 3 May 2022 – To ensure that more Singaporeans are better financially prepared for their later years and long-term care needs, major insurers Prudential Singapore (“Prudential”) and NTUC Income (“Income”) have joined hands to advocate early financial planning for life’s uncertainties.

Prudential and Income are working together to close protection gaps, particularly in the area of long-term care, which is critical as its cost continues to rise and Singaporeans are living longer.

Through the partnership, Care Secure, a CareShield Life supplement plan by Income, is now available through Prudential’s extensive network of financial consultants. This is in addition to Income’s own multi-channel distribution network comprising financial advisors, service branches islandwide, and its online purchase platform.

CareShield Life is a long-term care insurance scheme introduced by the government in October 2020 to provide basic financial support to help Singaporeans cover their personal and medical care expenses should they become severely disabled, especially during old age.1

Income is currently one of only three private insurers providing plans to supplement CareShield Life. Income’s Care Secure is designed to enhance CareShield Life coverage by offering policyholders additional coverage and financial support to cope with any living disabilities in their lifetime, a risk that increases as we age.

Commenting on the Prudential x Income – Care Secure partnership, Prudential’s Chief Distribution Officer, Ben Tan, said: “We are pleased that our partnership with Income allows us to protect even more Singaporeans against rising medical costs, and raise awareness about the importance of early planning for long-term care, through our 5,000-strong agency force. As Singaporeans are living longer, the risk of disability associated with their health is real. It is crucial that they also have the necessary financial protection when unexpected events occur and there is a need for long-term care services.”

Fabian Ng, Income’s General Manager for Consumer Business, said, “We are very glad to be working with Prudential, a fellow industry service and advisory provider, who is equally passionate about improving access to insurance and giving customers more solutions to meet their individual needs. Working with like-minded partners amplifies Income’s endeavours to promote better financial planning and preparedness amongst Singaporeans, particularly in the area of long-term care. Together, we look forward to closing protection gaps and empowering more Singaporeans with better financial security well into their later years, even in difficult times.”

Increasing health risks with rising life expectancy

Singaporeans have one of the highest life expectancies2 in the world at 83.93 years. As Singaporeans live longer, they need to ensure that they are sufficiently protected against health risks and increased medical costs associated with ageing.

Studies show that 1 in 2 healthy Singaporeans aged 65 could become severely disabled in their lifetime, and may need long-term care1. The median duration that Singaporeans could remain in severe disability is four years, and about 3 in 10 could remain in severe disability for 10 years or more4. By 2030, it is estimated 47 per cent of Singapore’s ageing population will have 1 or 2 Activities of Daily Living (“ADLs”) limitation(s), while 53 per cent will have 3 or more5.

With Care Secure, customers will be able to receive their lifetime monthly disability payout if they are unable to perform two or more ADLs such as walking or moving around, and feeding (please refer to page 3 of the brochure linked here for a full list of ADLs). This is compared to the basic CareShield Life plan, which requires customers to be unable to perform at least three ADLs.

It also includes a ‘Dependant Benefit’, a feature which provides additional cash payout for up to 36 months to support any dependants that the insured may have.

Early planning for long-term care is crucial

Healthcare and nursing home costs have also been increasing over the years. In 2021, the general cost of nursing homes was around S$1,200 to S$3,500 monthly, before government subsidies6. With inflation increasing and healthcare costs rising, caregivers and loved ones might face even greater financial stress.

It is thus crucial for individuals to be sufficiently prepared to cope with future care needs by planning early. Purchasing long-term care plans at a younger age means paying lower premiums, having a lower risk of being excluded from coverage, and being protected for longer against disability. There is also a longer runway to reach one’s financial goals.

Care Secure: key benefits

  • Lifetime monthly disability benefit7: Care Secure provides a lifetime monthly payout of up to $5,000 if customers are moderately or severely disabled8. This benefit payout9 depends on the customer’s disability status8 and the monthly disability benefit level10 the customer chooses. This disability benefit will be activated if customers are unable to perform at least two of the ADLs. In addition, future premium payments for this policy will be waived10 in the event of disability8. (please refer to the image below for a full list of ADLs)
  • Support benefit: receive a support benefit11 of up to 600 per cent of the disability benefit.
  • Dependant benefit: if customers become disabled8 and have at least one dependant12, customers will receive 25 per cent of the disability benefit as dependant benefit13 every month for up to 36 months in the customer’s lifetime. This ensures their dependants12 will be taken care of and provided for.
  • Death benefit: Care Secure will pay 300 per cent of the disability benefit in the event of a customer’s death and on the condition that the customer was already receiving the disability benefit. The policy terminates thereafter.
  • Pay premiums using MediSave: customers enjoy the flexibility to use up to S$600 from their MediSave account (per insured per calendar year) to pay for Care Secure premiums.


Notes to the editor:

For more information on Care Secure and the full set of terms and conditions, please visit the Prudential website here and the product brochure here, or the Income website here and the product brochure here.


3 Life expectancy at birth (period: 2020). Source: DOS | SingStat Website – Death and Life Expectancy – Latest Data

7 Customers can purchase Care Secure at monthly benefit levels from $1,200 to $5,000 in multiples of $100.

8 Moderate disability or moderately disabled means your inability to perform two ADLs, which means requiring significant assistance from another person throughout the entire activity. Severe disability or severely disabled means your inability to perform at least three ADLs, which means requiring significant assistance from another person throughout the entire activity.

9 During the waiting period, we do not pay any claim except claims resulting from an accident. If you become disabled during the waiting period (other than due to an accident), your policy will end and you will receive a full refund of your premium. For the full set of terms and conditions, please refer to: https://www.prudential.com.sg/products/health-insurance/medical/care-secure.

10 If, on the date when the premium is due, you are disabled and eligible to receive benefit payments under your policy, you do not have to pay the premium. You will have to start paying premiums again after you are no longer disabled and benefit payments have ended.

11 If you become and continue to be disabled, we will pay the support benefit. If you become moderately disabled, we will pay 300% of the disability benefit. If you become severely disabled, we will pay 600% of the disability benefit. For the full set of terms and conditions, please refer to: https://www.prudential.com.sg/products/health-insurance/medical/care-secure.

12 Dependants are: your child (or children); your husband or wife; your parents (biological parents, step-parents, or parents who legally adopted you); and your parents-in-law. Child means your biological child or stepchild, or legally adopted child, who has not reached the age of 21 years on the claim date.

13 Dependant benefit depends on the following conditions: If you recover from the disability and you have not fully used the amount under this benefit, you may make another claim for the remaining amount if you become disabled again as long as we have not paid for more than 36 months in your lifetime; if the child is no longer considered a child (because of their age or otherwise) at any time after we have begun paying this benefit, we will continue to pay this benefit until your death or you recover from the disability. The payment will then end. For the full set of terms and conditions, please refer to: https://www.prudential.com.sg/products/health-insurance/medical/care-secure.

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 91 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2021. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,000 financial consultants.

About NTUC Income
NTUC Income is Singapore’s leading composite insurer, offering life, health and general insurance that serve the protection, savings and investment needs of different life stages and for all segments of society. Income’s innovative, data-driven and omni-channel approach puts us at the forefront of customer-centric solutions that meet rapidly evolving needs and empower better financial well-being.

Income was established in 1970 and remains the only insurance co-operative in Singapore. We remain committed to creating a positive social impact through our products, services and people. Our financial strength and diversified investment portfolio are reflected by our strong credit ratings which underpin the delivery of our commitment to customers.

For more information, please visit .

#Prudential #NTUCIncome

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

Matthias Hendrichs joins MODIFI as Chief Commercial Officer

Former Apple Executive, Asia Pacific joins MODIFI as CCO to further exponential growth

BERLIN, GERMANY – Media OutReach – 3 May 2022 – Global fintech MODIFI today announced that Matthias Hendrichs joined its executive team as Chief Commercial Officer as of 2nd of May. Matthias joins MODIFI from Apple where he served as Head of Asia Pacific for Apple’s multi-billion dollar App Store & iTunes Retail Payments and Commerce business across 20 markets in Asia Pacific based out of Hong Kong.

Hendrichs completes the current executive team consisting of Nelson Holzner (CEO & Co-Founder), Sven Brauer (COO & Co-Founder) and Jan Wehrs (CTO & Co-Founder).

As MODIFI’s first non-founder C-Level appointment, Matthias will lead the market side of the business consisting of the global sales and marketing teams spanning China, Hong Kong, India, Bangladesh, Pakistan, the UAE, Germany, the Netherlands, the UK and the US.

“I am thrilled to join MODIFI at this exciting stage: MODIFI is growing 4x year on year across all major commercial regions. I am looking forward to driving this growth even further and to delivering more value for customers and partners around the world” says Hendrichs.

“We are delighted to welcome such an exceptional global leader to MODIFI. For 26 years Matthias has successfully developed strategies to scale, run and optimize complex businesses of all sizes. He has an exceptional track record of driving innovative and disruptive go-to-market strategies around the globe” says Nelson Holzner, MODIFI Co-Founder & CEO. “Together we will build the leading global commerce platform for business payments and trade management.”

About MODIFI:

MODIFI enables global commerce through a platform for business payments and trade management software. With MODIFI, sellers get paid instantly, while their buyers have the option to pay later. Our customers are also able to access a wide range of services that protect them from risk, and help them track and manage their shipments, all in one platform.

MODIFI is backed by MAERSK, GFC, Picus Capital, Intesa San Paolo and Heliad. Serving over 1,200 exporters and importers across more than 40 countries, MODIFI is present across Germany, the Netherlands, the UK, the US, the UAE, India, Bangladesh, Pakistan, China, Hong Kong, Bangladesh and Pakistan.

#MODIFI

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

Bangkok Mall Fossils Are Genuine, Say Geologists 

Fossils found in Bangkok mall walkway.
Fossils found in Bangkok mall walkway.

Decorative fossils embedded in the walkway of Bangkok’s Siam Square shopping mall have been examined by experts and found to be real. 

BingX Launches Innovative Blue Chip NFT Investing Through Crowdfunding

SINGAPORE – Media OutReach – 2 May 2022 – BingX, the world’s leading social trading platform, is excited to launch its inaugural NFT crowdfunding project. This project enables our users to participate and own a fragment of blue-chip NFT through the power of the community.

BingX-2-May.jpg

The NFT crowdfunding project which supports USDT/ETH pairings will be launched on the 29th of April, 2022, lasting for 14 days. During which, the NFT will be divided into multiple shards and users can choose to subscribe for a certain number of shards.

Investors can enjoy the subsequent benefits of the NFT, such as asset appreciation or airdrops. They can also choose to sell the fragments of the NFTs to others should the crowdfunding be successful (that is, the target NFT is successfully purchased).

Summer is fast approaching so we wanted to give our users something fun to kick off the season with. High-quality or well-known NFTs are often very expensive, so it is difficult for ordinary investors to invest alone. This is one of the key reasons why we are providing users with a lowered barrier to entry through crowdfunding. By allowing users to divide an NFT into multiple fragments, they can raise funds to buy it together. In turn, this will help bring the crypto community much closer.” – Global Communications Director at BingX, Elvisco Carrington.

Launching this innovative product in the CEX platform will bring better liquidity to the overall NFT market, while lowering the barriers to entry for BingX users. BingX is committed to developing and building an open, inclusive, high-worth cryptocurrency investment market to serve investors around the world.

About BingX

Founded in 2018, BingX has grown to become the world’s leading social trading platform. It is a global digital asset, spot, and derivatives trading platform that provides a safe, reliable, user-centric and open ecosystem with intuitive social trading features created to enrich the entire cryptocurrency industry. Created to enrich the entire cryptocurrency industry, BingX is a safe, reliable, and user-friendly venue for users to trade their favourite assets such as , , & Coin. In the countries and regions where BingX operates, it has registered or obtained financial services licenses recognised and regulated by local governments.

#BingX

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

Vietnam Drops Test Requirements for Entry

Vietnam Airlines staff welcome foreign tourists arriving at Da Nang International Airport, November 17, 2021. Photo courtesy of Vietnam Airlines
Vietnam Airlines staff welcome foreign tourists arriving at Da Nang International Airport, November 17, 2021. Photo courtesy of Vietnam Airlines

As of this week, travelers entering Vietnam through Tan Son Nhat International Airport in Ho Chi Minh City no longer need to prove that they have tested negative for Covid-19.