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Laos Confirms 2,033 New Cases of Covid-19

Omicron variant.
Omicron variant.

Laos has recorded 2,033 cases of Covid-19 across the country today.

MRC Secretariat Chief Calls for Urgent Action in First Mekong Day Address

MRC Secretariat Chief calls for urgent action in first Mekong Day address.
MRC Secretariat Chief calls for urgent action in first Mekong Day address.

Mekong River Commission Secretariat CEO Dr. Anoulak Kittikhoun sounded the alarm about the unprecedented challenge now facing the river on “Mekong Day.”

Grade A Office Rents in Mild Downward Adjustment of <1% in Q1 2022, Activities Expected to Increase in 2H 2022

Supermarkets Medicines & Cosmetics saw positive growth amid Retail Market’s slow-down

Short-term retail leases in high demand

Expected boost of retail spending with Consumption Voucher Scheme roll-out

    HONG KONG SAR – Media OutReach – 7 April 2022 – The fifth wave of the pandemic outbreak stalled the recovery of leasing activities and dragged the rental downwards in the Hong Kong office and retail markets since the second half of Q1 2022. Despite this, the overall Grade A office rental level dropped by less than 1% q-o-q. With the pandemic situation starts winding down, and with new development projects due to complete, we expect the office leasing market to regain its momentum in the second half of the year. For the retail market, local retail sales in the first two months of 2022 dropped to a record low since the beginning of the outbreak, subsequently pulling down rents in the major retail districts by 3% q-o-q. However, with social distancing measures set to be eased in phases, combined with the beneficial knock-on effects of the Consumption Voucher Scheme, retail leasing activity is expected to recover after Q2 2022.

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    Office Market – Slight rental decline, net absorption recorded positive for three consecutive quarters

    Office market rents demonstrated overall stable performance in January 2022. With the pandemic situation becoming more severe in February, leasing activities substantially slowed down, with overall rents dropped by 0.9% q-o-q and 3.1% y-o-y. In submarket terms, Hong Kong East and Hong Kong South showed notable drops in rental levels, falling by 2.2% and 1.5% q-o-q respectively (Chart 1). Nonetheless, the pandemic is expected to come under control, with social distancing measures set to be eased progressively. Given that office rental levels have now dropped with an accumulated plunge of circa 27% from the peak of 2019, we expect there is little room for further steep falls. We now anticipate a downward adjustment of 50 to 100 bps in Q2 2022, followed by a gradual recovery of leasing activities in 2H 2022 with subsequent stabilization in rental levels.

    In terms of absorption, a number of leasing transactions were recorded in the first half of Q1. Yet, the subsequent tightening of anti-pandemic measures suspended site inspection activities by landlords and tenants, resulting in fewer transactions. Overall, the city recorded positive net absorption over three consecutive quarters as of Q1, amounting to 245,100 sf (Chart 2). The banking & finance sector (34.7%) accounted for the lion’s share of new transactions in Q1, followed by consumer products & manufacturing at 12.8% of the total. The government and transportation & logistics sectors were more active than before (Chart 3). With a new project in the pipeline in Q1, overall availability was maintained at 13.6%.

    John Siu, Managing Director and Head of Project & Occupier Services, Hong Kong, Cushman & Wakefield stated, “We estimate a total net absorption of 300,000 to 500,000 sf in 2022, with the banking & finance sector leading demand for office space, while the professional services and logistics sectors will also remain active. From the supply perspective, three flagship projects in non-core areas are due to complete in 2H 2022, bringing 2.3 million sf of new floor area to the market. We believe these new completions will help fuel office expansion and relocation, although the influx of space will inevitably ramp up the overall availability rate to around 16% to 17%.”

    Retail Market – Supermarkets; Medicine & Cosmetics sectors show positive growth

    As the city braces for the fifth wave of the pandemic, it prompted widespread curtailment of consumption and resulted in an inactive retail market. In January and February 2022, total local retail sales fell by 4.9% y-o-y, with jewellery & watches (13.1%) and fashion & accessories (15.5%) dropping the most. On the other hand, supermarkets and the medicine & cosmetics sectors were beneficiaries, with retail sales growing by 8.2% and 5.0% respectively (Chart 4). The unfavorable factors have led to downward adjustments of retail rents in multiple districts, with drops ranging from 2.7% to 4.5%. As the pandemic situation gradually comes under control and social distancing measures expected to be progressively relaxed, we now anticipate little room for further overall rent reductions, and the market is expected to gradually recover from Q3 2022 onwards.

    The F&B sector has suffered most severely from the fifth wave of the pandemic, subsequently seeing rental level falls of around 3% in multiple districts (Chart 5). However, with the gradual stabilization of the pandemic situation, combined with the expected relaxation of dining restrictions and a new round of the Consumption Voucher Scheme, we believe the F&B sector will be on the way to steady recovery.

    Kevin Lam, Executive Director and Head of Retail Services, Agency and Management, Hong Kong, Cushman & Wakefield, highlighted, “Retail vacancy rates in key districts have been impacted by the pandemic to different extents. Mongkok and Tsimshatsui have suffered the most, with vacancy rates at 16.4% and 14.3% respectively. Responses from landlords can be broadly classified into three approaches. The first group prefers to leave the space idle, pending quality long-term tenants; the second tends to take a lease term of two to three years from large reputable brands; while the third group will lease the space to short-term tenants, such as those selling face masks and anti-epidemic products. In fact, short-term leases are better received by tenants, and so some landlords are willing to follow such market trends and accommodate lease terms accordingly.”

    Please click here to download photos and slide deck.

    Left: Kevin Lam, Executive Director and Head of Retail Services, Agency and Management, Hong Kong, Cushman & Wakefield
    Right: John Siu, Managing Director and Head of Project & Occupier Services, Hong Kong,
    Cushman & Wakefield

    About Cushman & Wakefield

    Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. Across Greater China, 22 offices are servicing the local market. The company won four of the top awards in the Euromoney Survey 2017, 2018 and 2020 in the categories of Overall, Agency Letting/Sales, Valuation and Research in China. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com.hk or follow us on LinkedIn ().

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

    Appier Appoints Dr. Che-hsu Chang as Chief Strategy Officer

    Former Senior Leader of McKinsey and Co. and IQVIA brings business acumen to drive Appier’s next phase of growth and innovation

    TAIPEI, TAIWAN – Media OutReach – 7 April 2022 – Appier, a leading artificial intelligence (AI) software-as-a-service (SaaS) company, announces today the appointment of Dr. Che-hsu “Joe” Chang as its Chief Strategy Officer. Dr. Chang, a business veteran with more than 12 years of experience across business strategy, product management and management consulting, will help drive the company’s growth, strengthen its strategic deployment in the AI market, and accelerate its strong momentum in new market expansion and vigorous market-driven product innovation.

    Appier Appoints Dr. Che-hsu Chang as Chief Strategy Officer

    In this capacity, Dr. Chang will lead Appier’s mergers and acquisitions (M&A), partnership and corporate strategy, as well as oversee Appier’s overall business health and growth opportunities globally. He is based in New York and New Jersey, US, and will be partnering with Appier’s senior leaders across business units and regions, strategizing for global opportunities that can propel Appier’s growth, especially in new markets.

    “I am delighted to welcome Dr. Joe Chang to Appier. Joe’s multifaceted experience in corporate strategy makes him the best fit to lead Appier’s growth strategy and accelerate our success,” said Dr. Chih-han Yu, CEO and Co-founder of Appier. “With Joe on our team, I believe we will be able to explore more business possibilities to help us stay competitive and enhance our overall capacity for rapid growth in 2022 and beyond.”

    “Appier is a rapidly growing AI SaaS company with a strong focus on customer-centric marketing solutions. I’m thrilled to be part of Appier and look forward to working with world-class talents to drive business and organizational growth as well as efficiency,” said Dr. Chang. “I am eager to bring my experiences in industries, businesses and technologies to the new role to build upon Appier’s success and sustain long-term growth.”

    Dr. Chang was most recently the Senior Principal of Real World Technology Solutions Strategy at IQVIA. During his tenure he led corporate strategy, co-led M&A and partnership initiatives, as well as drove innovation in product development and commercialization of artificial intelligence/machine learning-based products and services.

    Dr. Chang began his career at McKinsey and Co. in the US, where he co-led and grew the company’s healthcare and business technology practices as an Associate Partner. He also led research operations and product development at Flatiron Health, a startup acquired by Roche in 2018. Dr. Chang’s expertise is focused on the intersections between business strategy, technology and analytics.

    Dr. Chang holds a Doctor of Science degree in Public Health from Harvard University and a Master of Science and Bachelor of Science degrees from National Taiwan University.

    For more information, please visit www.appier.com/news.

    About Appier

    Appier (TSE: 4180) is a software-as-a-service (SaaS) company that uses artificial intelligence (AI) to power business decision-making. Founded in 2012 with a vision of democratizing AI, Appier now has 17 offices across APAC, Europe and U.S., and is listed on the Tokyo Stock Exchange. Visit for more company information and visit for more IR information.

    #Appier

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

    Trend Micro Named a Leader in Endpoint Detection and Response (EDR)

    HONG KONG SAR – Media OutReach – 7 April 2022 Trend Micro Incorporated (TYO: 4704; TSE: 4704) today announced it has been named as a Leader in Endpoint Detection and Response (EDR) by Forrester. Trend Micro believes this report provides recognition of the company’s focus on innovation, customer centricity and endpoint security. Trend Micro was one of only three vendors named a Leader in EDR by Forrester.

    To read a full copy of the report, The Forrester Wave™: Detection and Response (EDR), Q2 2022, please visit: https://www.trendmicro.com/explore/forrester-wave-edr

    “As the intersection between data, devices and users, the enterprise endpoint has become a favored target of attack by cybercriminals,” said Jon Clay, vice president of threat intelligence at Trend Micro. “But most attacks today move beyond the endpoint. That’s why we offer EDR as part of a broader, single-platform XDR solution designed to offer comprehensive threat detection and response across the entire infrastructure while reducing complexity and effort for overworked SOC teams.”

    Trend Micro received no 1/5 scores in any evaluation criteria and received a 5/5 score for nine of the criteria including investigation capabilities, ATT&CK alignment, extended capabilities and innovation roadmap. Trend Micro believes the strengths illustrated in the report align with Forrester’s stance on the value of high-quality analysis.

    Per Forrester’s report: “Analysis is the most time-consuming part of the incident response process. To improve the analyst experience, clients should prioritize vendors that provide relevant, streamlined context for investigation and threat hunting by linking events together, providing timely threat intelligence, and leveraging dynamic risk scoring for processes, MITRE ATT&CK techniques, etc.”

    As a Leader in EDR, we believe this recognition demonstrates that Trend Micro is dedicated to delivering on customers’ current and evolving detection and response needs.

    “Trend Micro innovates far beyond its public perception…” the report stated. “Reference customers highlight the interoperability between different parts of the portfolio as a key differentiator.”

    The report follows Trend Micro’s recognition as a Leader in The Forrester New Wave™: Extended Detection and Response (XDR) Providers, Q4 2021, The Forrester Wave™: Endpoint Security Software As A Service, Q2 2021, and The Forrester Wave™: Enterprise Email Security, Q2 2021.

    About Trend Micro

    Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world.

    #TrendMicro

    Government of Laos Consults with Private Sector on Fuel Pricing

    Government of Laos to urgently attempt to control fuel prices

    The Lao Ministry of Industry and Commerce and the Ministry of Finance held a meeting yesterday with members of the private sector to discuss ways to stabilize fuel prices.

    Laos National Assembly Holds Brainstorm Session to Solve Economic Problems

    Mr. Saysomphone Phomvihane, Politburo member and President of the National Assembly,
    Mr. Saysomphone Phomvihane, Politburo member and President of the National Assembly (Photo: KPL).

    The National Assembly of Laos met yesterday for a special brainstorming session to address the country’s economic problems.

    Chubb Life Yearly Income Plan Bestows Your Wealth to Your Future Generation at Ease

    HONG KONG SAR – Media OutReach – 7 April 2022 – Recognising people’s need to plan for different phases of their life from getting married, buying a home, funding children’s education and saving for retirement, Chubb Life Hong Kong has launched “Chubb Life Yearly Income Plan” (“the Plan”). The Plan provides liquidity and flexibility with a steady stream of cash return over time, which creates a continuous income that customers can rely on to achieve their changing life goals.

    Customers can enjoy an annual cash payment every policy year starting from the 1st policy anniversary, as well as an extra cash payment every 10 years starting from the 10th policy anniversary.

    Wai Kit Chan, Chief Marketing Officer of Chubb Life Hong Kong, said, “We believe that customers value growing wealth and legacy building, so we have designed a product that meets both requirements. With steady income streams, the Plan helps customers accomplish their long-term savings goal. The Plan also allows policy continuation with the option to change the insured.

    To provide comfort to customers during financial difficulties, the Plan offers further peace of mind with a premium holiday of up to two policy years. What’s more, in the unfortunate event of the insured dying due to an accident during the 1st policy year, an additional benefit of up to US$100,000 is provided.

    Further product information can be found at: https://www.chubb.com/hk-en/personal/chubb-life-yearly-income-plan.html

    About Chubb Life Hong Kong

    Chubb Life is the international life insurance division of Chubb. In Asia, Chubb Life operates in Hong Kong SAR, Indonesia, Korea, Myanmar, Taiwan, Thailand and Vietnam, and participates in a joint-venture in China. Chubb Life has been in Hong Kong since 1976. To meet the financial protection and wealth management needs of its broad range of customers, Chubb Life Hong Kong (Chubb Life Insurance Company Ltd.) offers a range of life protection, savings, accident and health insurance solutions through agents and brokers. Additional information can be found at:

    About Chubb
    Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at:

    #ChubbLife #Chubb

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