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S&P and Moody’s Assign First-time “B” and “B2” Ratings respectively to Datang

HONG KONG SAR – Media OutReach – 22 April 2021 – Chinese property developer ─ Datang Group Holdings Limited (“Datang” or the “Company”; together with the subsidiaries, the “Group”; HKEx stock code: 2117) is pleased to announce that S&P Global Ratings (“S&P”) has assigned a “B” long-term issuer credit rating to the Group with a stable outlook and Moody’s Investors Service (“Moody’s) has assigned a “B2” corporate family rating to the Group with a stable outlook. These are the first-time ratings granted to the Group by authoritative international rating agencies.

S&P

S&P says the rating reflects Datang’s progress in its ambitious plan to expand beyond its home markets, transforming from a small operating scale mainly focused around lower-tier cities. The Company’s good market position and sales execution in its home market Nanning and improving geographic diversification temper its risks.

S&P forecasts Datang’s 2021 contracted sales to be RMB47 billion to RMB49 billion based on a sell-through rate of 65%-68%, in line with 66% in 2020. In S&P’s view, the Company made solid progress in contracted sales in the first quarter of 2021 because its sales of RMB93.5 billion already accounted for about 19% of its full-year estimate. As the Company increases its presence in the Yangtse River Delta, S&P expects a gradual increase in sell-through rate. S&P also believes Datang will maintain a satisfactory cash collection rate of around 90% for the next 12 months, as the company has seen a solid rebound in cash collection in the first quarter of 2021.

The stable outlook reflects S&P’s view that Datang will maintain steady sales growth, while expanding into the Yangtze River Delta region. S&P also expects the Company to sustain solid revenue growth over the next 12 months on the back of its adequate sold but unrecognized revenue.

Moody’s

Mood’s says the rating reflects the Company’s growing operating scale and good execution capability in its key markets of Guangxi and Fujian provinces. It also considers Datang’s comparable credit metrics with its B2-rated peers, as well as its adequate liquidity.

Moody’s points out that Datang has over ten years of property development experience in China with a focus on Guangxi and Fujian provinces. Solid housing demand in the key cities that the Group operates, such as Nanning and Zhangzhou will continue to support the Datang’s contracted sales. In addition, Datang has identified the Yangtse River Delta region as a strategic growth area in the coming years. The affluent economy in this region will support housing demand and thereby Datang’s sales growth.

Moody’s expects Datang’s gross contracted sales to grow by 20% and 15% in 2021 and 2022 respectively. Such solid sales will support the company’s liquidity and revenue growth in the next 12 to 18 months.

The stable rating outlook reflects Moody’s expectation that Datang will maintain sufficient balance sheet liquidity and grow its scale as planned, while maintaining a disciplined approach to land acquisitions.

Mr. Wu Di, Chairman of the Group said, “The ratings granted by S&P and Moody’s served as a proof that the Group’s efforts in improving its capital structure paid off since its listing on the Main Board of the Hong Kong Stock Exchange in December last year. We are encouraged by the capital market’s recognition of the Group’s sound business strategy and the capital market’s confidence in the Company’s improving credit profile. Looking ahead, Datang will continue to broaden financing channels of domestic and overseas capital markets, increase cooperation with financial institutions, and expand credit scale. Meanwhile, we will reasonably control the debt scale and continue to maintain a stable growth under the Three Red Lines.”

About Datang Group Holdings Limited

Datang Group Holdings Limited is a property developer in China focused on the development of residential and commercial properties in selected economic regions. Headquartered in Xiamen, the Group has expanded its business into major regions in China, including Haixi Economic Region, Beibu Gulf Region and Yangtze River Delta Region and neighboring cities, etc. As of December 31, 2020, the Group has 123 major projects in various stages of development in six large economic zones. In 2020, the Group was ranked 73th among the Top 200 Real Estate Property Developers in China in terms of contracted sales by CRIC, a real estate research institute. The Group’s shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on 11 December 2020.

Police Arrest Illegal Entrants Returning From Thailand

Two migrant workers attempt to illegally return to Laos

Authorities have arrested two Lao migrant workers attempting to illegally return to Laos from Thailand today.

CPP Investments and ESR upsize joint investment in Korea Income JV to US$1 billion

New capital will fund further opportunities in Korean logistics real estate

 

SEOUL, SOUTH KOREA / HONG KONG SAR – Media OutReach – 22 April 2021 – Canada Pension Plan Investment Board (“CPP Investments“) and ESR Cayman Limited (“ESR”; SEHK Stock Code: 1821) today announced an expansion of their Korea Income Joint Venture (“Korea Income JV”). CPP Investments and ESR will collectively upsize their investment in the vehicle by a further US$500 million, with CPP Investments contributing the majority of the capital. The new capital will effectively double the size of the venture to US$1 billion in total equity allocation.

The Korea Income JV was established in 2018 to focus on investments in income producing logistics assets located in major metropolitan areas of South Korea. The portfolio, which is managed by ESR Kendall Square, consisted of 12 institutional-grade modern logistics facilities with an aggregate GFA of 774,666 sqm. Six of the 12 assets were divested to ESR Kendall Square’s Korea Logistics REIT in December 2020.

Jimmy Phua, Head of Asia Real Estate at CPP Investments, said, “Korea is already one of the most developed e-commerce markets in Asia and the pandemic has accelerated the growth in the past year, further fuelling the demand for quality logistics facilities. By expanding our successful joint venture with ESR, we are able to meet the fast-growing demand and strengthen our leadership position in the market, ultimately delivering long-term value for CPP contributors and beneficiaries.”

Thomas Nam, CEO of ESR Kendall Square, ESR’s South Korean platform, remarked, “The upsize of the Korea Income JV is a reflection of the solid performance the vehicle has achieved in the past several years. The positive results demonstrate the strength of our investment strategy and asset management capability as well as the continued confidence of our long-standing capital partner, CPP Investments. The demand and long-term prospects of high quality logistics facilities continue to show stable growth, especially as e-commerce adoption and structural changes in supply chain management have been driven forward during the COVID-19 pandemic. With the increased capital commitment, we will be in an even better position to respond quickly and strategically to opportunities as they arise.”

CPP Investments and ESR have a well-established investment relationship and track record. In addition to the Korea Income JV, the two parties have collaborated on two other joint ventures focused on the Korean logistics sector since 2015.

About CPP Investments

Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2020, the Fund totalled C$475.7 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.

About ESR

ESR is the largest APAC focused logistics real estate platform by gross floor area (GFA) and by value of the assets owned directly and by the funds and investment vehicles it manages. Co-founded by its senior management team and Warburg Pincus, ESR and the funds and investment vehicles it manages are backed by some of the world’s preeminent investors including APG, SK Holdings, JD.com, CPP Investments, Oxford Properties and PGGM. The ESR platform spans across the People’s Republic of China, Japan, South Korea, Singapore, Australia and India. As of 31 December 2020, the fair value of the properties directly held by ESR and the assets under management with respect to the funds and investment vehicles managed by ESR recorded approximately US$30 billion, and GFA of properties completed and under development as well as GFA to be built on land held for future development comprised over 20 million sqm in total. Listed on the Main Board of The Stock Exchange of Hong Kong in November 2019, ESR is a constituent of the Hang Seng Composite Index and MSCI Hong Kong Index. For more information on ESR, please visit www.esr.com.

Oyen Launches Digital-First Pet Insurance Platform

KUALA LUMPUR, MALAYSIAMedia OutReach – 22 April 2021 – Malaysians love their furry friends and are increasingly investing in a burgeoning range of pet-related products such as pet hotels, pet grooming services, pet tracking/monitoring gadgets and many more. But pets can also be a heavy responsibility for caring owners, if they get ill or unfortunately suffer an accident.

This is why Oyen Sdn Bhd created a digital-first insurance platform – oyen.my – with MSIG Malaysia partnering to underwrite the pet insurance policy. This new platform allows caring pet owners to digitally buy and manage medical insurance for their cats and dogs, quickly and conveniently.

Kevin Hoong, Oyen Founder & CEO, said, “The COVID-19 pandemic has fuelled an increase in pet ownership around the world. More people are now working from home and increasingly look to pets to provide companionship and help manage their stress. Many of these new pet owners are first-timers and often millennials, who are more digitally savvy.”


In the US, the Animal Medical Centre has seen a 25% increase in new pet dogs and cats ownership compared with the previous year prior to the pandemic. An overwhelming percentage of pet owners (74%) in the UK had also said that their pet had helped them with their mental health while they were coping with the lockdowns.


“As a busy working adult living on my own, the remote working arrangement limits my physical interactions, which can feel demotivating. I am happy to have my cats, Budi and Nadi, as companions to keep me positive. Oyen provides me with the peace of mind that my cats are always protected. Major plus point – it took me just a few minutes to apply with Oyen online!” Aiman Kamal, 32, a banker & recent customer of Oyen Sdn Bhd.


Kevin continued, “Medical costs for pet care can be surprisingly large and an unexpected and unwelcome expense for many owners should their pets get ill or suffer an unfortunate accident. That is why we thought it was the perfect time to launch this digital pet insurance option in Malaysia. We want to lower the barrier to entry and offer a service which can provide pet owners, especially first timers, with some reassurance and peace of mind in these turbulent times.”


“When I first adopted 2 stray cats (Siti Kylie and Nurul Kendall), I was worried about the financial commitment that would inevitably come with their health care costs. Once, Siti Kylie fell sick, and I was shocked at the bill that came! The fact that I can now purchase the coverage online with Oyen makes the process super convenient, and all of the important details are stated in their website clearly.” Jehan Omar, 31, IT Project Manager, who is a customer of Oyen Sdn Bhd.

Some key features of Oyen’s pet insurance^ include:

  • High vet medical coverage in Malaysia – up to RM 8,000 in vet medical fees, claimable in the event of illness or accidental injury.
  • Farewell burial/cremation cost up to RM 1,000, and third-party liability coverage up to RM 50,000.
  • Reimbursable visits to registered vet clinics in Malaysia.
  • Fast cover and seamless claims. Customers can get insurance coverage within minutes and submit their claims online.

Mr. Chua Seck Guan, CEO of MSIG Malaysia, said, “We are delighted to have been able to work with Oyen to develop this unique digital pet insurance offering. We hope that our position as one of the world’s top ten general insurers, with over 100 years of operation in Malaysia, will provide reassurance and confidence to Malaysian pet owners looking to use Oyen to cover their pets’ medical expenses.”

^Terms and conditions apply.


About Oyen Sdn Bhd

Oyen is a digital-first insurance platform that allows customers such as pet owners to buy and manage pet medical insurance for their cats and dogs easily.

Oyen’s mission is to help Malaysians be happy pet owners through healthy pets. The company was founded by a group of passionate pet lovers and qualified insurance professionals with years of experience in the insurance industry.

As a digital insurance platform, Oyen aims to make the insurance purchase and claims experience as seamless as ordering a rideshare on your mobile phone.

Oyen Sdn Bhd is an authorised agent of MSIG Insurance (Malaysia) Bhd.

For any interested cats and dogs owners, visit Oyen’s website (https://www.oyen.my) or social media pages (Facebook – @oyen.insure and Instagram – @my.oyen) for more details. Alternatively, you can contact their friendly Customer Care Team’s hotline at 03 2935 9955 (WhatsApp and Voice Call).

About MSIG Insurance (Malaysia) Bhd

MSIG Insurance (Malaysia) Bhd (“MSIG Malaysia”) is a subsidiary of Mitsui Sumitomo Insurance Company, Limited and a member of MS&AD Insurance Group Holding, Inc. (MS&AD), one of the top ten** general insurers in the world.

With over 100 years of general insurance experience and a nationwide network of 20 branches in Malaysia, MSIG Malaysia is one of the leading general insurers in Fire, Engineering and Motor classes and No.1* in Marine Cargo, offering an extensive range of products and services for personal and business needs.

MSIG Malaysia’s expertise is well recognised through its receipt of many prestigious awards. These have included the 2020 Reader’s Digest Quality Service Award – Silver winner in the Car Insurance category. MSIG was recognized for having one of the highest levels of quality service, which reflects the effort that the company has put in to satisfy consumer’s demand for high service standards. The company was also awarded the 2018 “Outstanding Property and Casualty Insurer in Malaysia” award in the InsuranceAsia News Awards for Excellence. MSIG Malaysia was commended for leading the market with strong financial growth, investment in product innovation, enhanced digital capabilities in business and claims management systems and strong customer service proposition. Its commitment to customer service excellence through its efforts in enhancing the customer experience and industry leadership in Enterprise Risk Management also earned MSIG Malaysia the “General Insurance Company of the Year” at the Asia Insurance Industry Awards in 2015.

For more information on MSIG Malaysia, visit www.msig.com.my or facebook.com/MSIGmy.

*As of Dec 2020

**Fortune Global 500, 2019.


Media Outreach Named A Top Press Release Distribution Service Provider In Asia

HONG KONG SAR – Media OutReach – 21 April 2021 – Media OutReach, the first global newswire founded in Hong Kong in 2009, was named by TMCnet as one of the leading press release distribution services in Asia by TMCnet in its Top 7 Asia Press Release Distribution Services Reviewed feature report. TMCnet is a full-service news portal providing thousands of articles and features covering today’s most dynamic technologies, including, IP communications, wireless, CRM, cloud computing, WebRTC, contact center, and information technology.

In the report, TMCnet assessed and ranked the press release distribution services on key metrics such as distribution network and proven ability to deliver results; partnership agreements with Asian media outlets, newswires and top news organizations; and return on investment (ROI), with scores based on measurement and analysis tools for benchmarking results with target audience. Under these criteria, Media OutReach was acclaimed as “…the most important and influential Asian PR distribution service” with a “… world-class Asia-Pacific distribution network.”


Media OutReach is a global newswire whose success is attributed to a number of key factors including: (1) its proprietary technology-led distribution platform that delivers multimedia assets and multilanguage content directly to the inboxes of journalists and editors; (2) its precise journalist and editorial targeting capabilities, thereby maximizing interview and write up opportunities; (3) it is the only press release distribution service that guarantees online postings on real news media thus enhancing online visibility, SEO and empowers social media sharing; (4) its pioneering Media and Journalist Insights dashboard which directly addresses the vexing question of whether journalists open client press releases – by tracking when releases are opened and conversion to write ups. These key factors combined with Media OutReach’s in-depth understanding of the media landscape in Asia Pacific benefits its customers.

Jennifer Kok, founder and CEO of Media OutReach said “Since founding, our aim is to build a service to support our clients to achieve their communication goals. Leveraging our own Asia Pacific network and international distribution agreements with partners that shares our vision. We are pleased with this recognition of our achievement from TMCnet as a Top 7 Asian Press Release Distribution Service Provider and we will continue our focus on investing on building a service that ensures their communication success in Asia Pacific and internationally.”

About Media OutReach

Founded and headquartered in Hong Kong in 2009, Media OutReach is the first global newswire founded in Asia Pacific with offices in Singapore, Malaysia, Vietnam, Japan, China and Taiwan as well as international reseller partnerships in Canada, USA and Europe. Media OutReach is the only newswire that owns its distribution network across 24 countries across Asia Pacific; possessing a database of more than 130,000 journalists, 400 trade categories, 62,000 media titles and 460 media partnerships, it is revolutionizing the industry by providing guarantee online news posting by language for each distribution. With proprietary technology at its core, Media OutReach Newswire distributes multi-language and multimedia press release contents directly to the inbox of targeted editors and journalists to optimize news write up, build media relations and automates the reporting process with key performance metrics and its pioneering post-release reports gives insights into journalists accessing the release by publication and by country.

Media OutReach Newswire is the go-to news release and content distribution partner for public relations, social marketing, digital agencies, and organizations in Asia Pacific. For more information on Media OutReach, please visit https://www.media-outreach.com/ or follow us on Linkedin and Twitter.

#media-outreach #pressreleasedistribution #asiapacificpressrelease #pressrelease #newswire #publicrelations

Tsim Sha Tsui Ranked #1 as the Most Expensive Shopping Street in Asia Pacific Despite Biggest Rent Drop in Hong Kong’s History

Rent Declined by 43% for Causeway Bay

Hong Kong, Tokyo, Sydney ranked Top 3 in Asia Pacific

HONG KONG SAR – Media OutReach – 22 April 2021 – Two-thirds of retail strips in Asia Pacific saw rental declines in 2020, with Causeway Bay in Hong Kong experiencing the steepest decline at 43%, according to Cushman & Wakefield’s latest Asia Pacific Main Streets Report. Causeway Bay had been #1 across the globe in retail rental value in the last 2 years. Yet, its position was taken over by Tsim Sha Tsui in 2020. Retail rental dropped by 42% and 35% year-on-year for Central and Tsim Sha Tsui respectively. On average, retail space rental value citywide has fell by 38% in Hong Kong over the course of 2020.

“Ownership diversity is the key differentiator between Tsim Sha Tsui and Causeway Bay retail rental performance. Ownership of Canton Road in Tsim Sha Tsui, the main shopping area, is more centralized when compared with Russell Street of Causeway Bay. In times of crisis, centralized ownership allows for more flexible measures to retain tenants, thus maintaining a more stable trade mix with a cluster of renowned brands with optimal brand impact,” said Mr. Kevin Lam, Cushman & Wakefield’s Executive Director, Head of Retail Services, Hong Kong. “Looking ahead, with international travel made possible again towards the later part of 2021, together with a stable trade mix, we would expect retail rental performance to recover first in Tsim Sha Tsui district for the same reason,” Mr. Lam continued.

However, the retail sector in Mainland China had the least disruption amongst all the markets in the region, with average rental declines of 5%. In contrast to the Beijing Central Business District (CBD) which had a 14% decrease in rental in 2020, the Luohu district in Shenzhen saw the largest rental growth of 5%.

Mr. Keith Chan, Cushman & Wakefield’s Director, Head of Research, Hong Kong, commented, “Hong Kong remained in the top position regardless of the average retail rental drop of 38% in 2020. Tsim Sha Tsui still sits 31% above the second place, Ginza of Tokyo. This reflects the exceptionally high retail rentals in Hong Kong regardless of the pandemic outbreak and economic downturn.”

“The key market drivers in operation due to COVID-19, namely international border closures, lockdowns and work-from-home practices have been universally felt across the region. As a result, we see little change in Asia Pacific rent cost rankings, at least for the top 10 cities, with Hong Kong, Tokyo, Sydney, Seoul and Osaka maintaining their dominance at the top of the list,” noted Dr. Dominic Brown, Head of Insight & Analysis, Asia Pacific at Cushman & Wakefield.

Most expensive retail districts by market ranked by Q4 2020 rent (USD/sqft/yr)

RANK 2020

RANK 2019

MARKET

LOCATION

RENT

1

1

Hong Kong

Tsim Sha Tsui

$1,607

2

2

Tokyo

Ginza

$1,223

3

3

Sydney

Pitt Street Mall

$974

4

5

Seoul

Myeongdong

$930

5

4

Osaka

Shinsaibashisuji / Midosuji

$805

6

6

Shanghai

West Nanjing Road

$600

7

7

Beijing

CBD

$500

8

8

Nanjing

Xinjiekou

$470

9

9

Melbourne

Bourke Street

$422

10

10

Singapore

Orchard Road

$421

Asia Retail Trends

  • Rise of localism – Shoppers have become more supportive of local businesses to help them survive through the pandemic. In a 2020 global survey of 8,000 consumers carried out by Rakuten Advertising, 50% of households responded that they had purchased more from local businesses. Furthermore, consumers in Asia Pacific were more likely to avoid making international online purchases, showing a preference to spend their money domestically.
  • Growth of e-commerce – The pandemic has inevitably increased online retailing as lockdowns and health concerns have pushed purchasers onto digital platforms. For the Asia Pacific region, which was already a digitally hungry region, the growth of e-commerce comes as no surprise. The region has a 64% share of global e-commerce at USD2.5 trillion out of a global total of USD3.9 trillion, according to e-marketer.
  • The pandemic has also transformed the luxury goods sector with online share of luxury purchases increasing from 12% in 2019 to 23% in 2020, according to Bain & Company. However, it remains too early to tell if this is a temporary enforced shift or start of a much wider acceptance of online retailing for luxury goods. While consumers of luxury goods generally prefer to buy in-store to enjoy the accompanying high-quality service, the growing presence of omni-channel marketing will have an impact on the evolution of the luxury goods sector.

Looking Ahead

The retail sector is facing some of the most significant cyclical and structural headwinds of all real estate sectors; some of which were in play prior to COVID-19 while others have occurred as a result of swift and strict restrictions on domestic and internal population mobility. Such issues have had a disproportionate impact on high-end retail destinations. It is unlikely that these districts will immediately spring back to pre-COVID performance because of the slow pace of recovery in international travel, but at the same time it does not mean that they will fade into irrelevance. The progress made in the roll-out of vaccine programs globally and the gradual return to normalcy will also contribute to the overall recovery of the retail sector.

For retail, in the near term, this means greater bifurcation in consumer spending; with value-oriented concepts continuing to flourish and luxury retail rebounding more quickly. Following the 2008 global financial crisis, global luxury retail generally rebounded within a 12 to 18-month timeline. Evidence from China in 2020 supports this view, which should provide a dose of optimism to the luxury sector.

While the focus is understandably on current concerns and difficulties, it would be remiss not to keep an eye on longer term opportunities. Over the next decade, the Asia Pacific regional economy will continue to outpace the rest of the world and grow from a 36% share to 40%. The middle class is forecast to swell by over 1.5 billion over the same period. These trends, together with the fact that many markets across the region, especially in South East Asia, remain underserved by physical retail floorspace highlight the opportunities on offer beyond the current COVID-19 affected conditions.

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 2020, the firm had revenue of $7.8 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 (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).

Laos Reports Six New Cases of Covid-19

Laotian Times Covid-19 Update

Laos has confirmed six new cases of Covid-19 today as the first day of lockdown in Vientiane Capital draws to a close.

AXA becomes the first insurer to join Green Monday ESG Coalition

HONG KONG SAR – Media OutReach – 22 April 2021 – AXA Hong Kong and Macau (“AXA”) is proud to be the first insurer to join the “Green Monday ESG Coalition” (“Coalition”) as a founding Mission Partner, rendering our full support to combat climate change for a sustainable and resilient future.

The Coalition is led by Green Monday Group, a leading green social enterprise headquartered in Hong Kong. It aims to unify businesses with concrete carbon emission reduction actions to achieve the global “Net Zero” goal.

As the first and only insurer joining the Coalition, AXA has pledged to combat climate change through a series of innovative green actions and co-creating social education and community projects with Green Monday.

Sally Wan, Chief Executive Officer of AXA Hong Kong and Macau, said, “Climate change is our century’s biggest challenge. As a global insurance leader, AXA is committed to being a catalyst for action to build a green and sustainable future. We are very pleased to join forces with Green Monday and other like-minded leading firms in this Coalition to take action for our planet. This again brings to life AXA’s Purpose – Act for human progress by protecting what matters.”

AXA Group has been at the forefront of the fight against climate change for years. In the AXA Group “Driving Progress 2023” strategy which was announced in December 2020, reinforcing our climate leadership position is one of the five key strategic actions. With our commitments and actions towards sustainability, we were recognised as the second most responsible insurer in the world by the Dow Jones Sustainability Index in 2020.

To learn more about the “Green Monday ESG Coalition”, please visit https://greenmonday.org/en/corporate-solutions/.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 54 markets and serving 105 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.

At the core of our service commitment is continuous product innovation and customer experience enrichment, which is achieved through actively listening to our customers and leveraging technology and digital transformation.

We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example, the Mind Charger function on our holistic wellness platform “AXA BetterMe”, which is available via our mobile app Emma by AXA, is open to not just our customers, but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.

THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: AXA.COM.HK

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.