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Canopy Sands Provides Care Packages to Childcare NGO M’Lop Tapang, Sihanoukville Residents

SIHANOUKVILLE, CAMBODIA – Media OutReach – 25 October 2021 –  Canopy Sands Development (“Canopy Sands”), a member of Prince Holding Group (“Prince Group”), one of Cambodia’s largest and fastest-growing conglomerates, has distributed care packages to M’Lop Tapang, a local non-governmental organization as well as villagers living at Ong Village in Sihanoukville, Cambodia. The outreach was part of Canopy Sands’ ongoing efforts to support local communities as Cambodia reopens for a post-pandemic recovery.

The Canopy Sands team handed over 30 tons worth of food packs containing essentials such as rice, cooking oil and canned food during the outreach programme involving M’Lop Tapang and residents of Ong Village. Additionally, the donation to M’Lop Tapang also covered medical and hygiene products alongside educational aid like made-to-order school bags from the Indochina Starfish Foundation, a Cambodian charity that focuses on educational initiatives for the underprivileged children in Cambodia.

“We had several conversations with representatives from M’Lop Tapang and Ong Village to understand their specific needs before putting together these care packages. It is our sincere hope that ongoing programs like these will be of assistance and somewhat lessen the hardships of those hit hardest by the COVID-19 pandemic,” said Khong Weng Fook, Managing Director of Canopy Sands.

M’Lop Tapang is one of the leading charitable organizations in Sihanoukville and currently works with more than 5,000 children in Sihanoukville providing a safe environment, medical care, education, training and safe employment, counseling, psycho-social support, family strengthening and protection from abuse. Ong Village is a settlement of over 200 families near the Ream City project by Canopy Sands.

Earlier in September, Prince Holding Group’s philanthropic arm, Prince Foundation, responded to a request for assistance from the Prey Nob district, Preah Sihanouk province, in its fight against the COVID-19 pandemic by donating 5,000 PPE suits, 1,000 rapid antigen test kits, and 4,500 liters of alcohol-based hand sanitizer. In the same month, Prince Foundation had also launched the Chen Zhi Scholarship in partnership with the Ministry of Education, Youth and Sport (MoEYS), offering full tuition fees and stipends for 400 Cambodian university students via an investment of US$2 million over the coming seven years.

Through distributing essential aid via established NGOs and the local authorities, Canopy Sands is working to develop a constructive dialogue between local communities and the developer to ensure a productive long-term relationship. During the donation at Ong Village, the Ream Commune Chief, Lin Sarin, expressed his support for Ream City, hoping the project’s success will bring prosperity to his local community.

Canopy Sands is currently working on its 834-ha Ream City project, a multi-decade coastal development project working off a master plan issued by Singaporean urban consultancy Surbana Jurong that will involve construction efforts along sustainable real estate development principles.

About Canopy Sands Development:

Canopy Sands Development Co., Ltd (“Canopy Sands”) aims to accelerate the development of key Cambodian economic sectors by initiating and driving forward economically sustainable projects that aim to fulfill important public needs and make meaningful contributions to local communities in Sihanoukville. By working closely with local businesses and core sector supply chains, the overall company strategy adopts a unique, holistic approach that delivers sustainable economic returns, positive social benefits to the local population and attractive investment returns. Over the next 5-10 years, the company’s rapidly expanding collaborations with public and private players in business, tourism, logistics, retail, transportation, healthcare and education will gradually establish an incredibly diverse portfolio of high-value projects.

In line with its strategy to improve people’s quality of life and well-being as well as strengthen the local tourism sector in Sihanoukville, Canopy Sands is currently developing a world‐class business and entertainment destination which will be the first of its kind in Cambodia.

Known as ‘Ream City’, the new multi-cluster development will house many exciting attractions, such as an integrated family theme park, recreational and educational zones, and a business and financial centre, along with residential villas and apartments, hospitality properties including 5-star hotels, resorts and apartments, convention and wedding halls, retail and duty-free stores and airport expansion area.

#CanopySandsDevelopment

About Prince Holding Group:

Prince Holding Group is one of the largest conglomerates in Cambodia, with its various units focusing on three core areas: real estate development, financial services and consumer services.

Prince Holding Group’s key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, Belt Road Capital Management, as well as Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 80 businesses in Cambodia operating in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors etc.

Rising foreign direct investment, free trade agreements with leading countries and future participation in the Regional Comprehensive Economic Partnership are expected to act as key drivers for the Cambodian economy, supported by pro-industry policy initiatives by the government.

Leveraging a network of industrial, business and financial professionals across Asia, Prince Holding Group has laid the foundation to be a vital conduit for local and international capital. Moving forward, Prince Holding Group will continue to seek out opportunities to play an important role in Cambodia, through partnerships or direct investments into key industries for the betterment of Cambodians and the local economy.

Laos Must Reopen Schools To Ensure Its Future

An empty school building in Sopcham Village, Luang Prabang Province
An empty school building in Sopcham Village, Luang Prabang Province.

Is it time for Laos to reopen schools? What might the future hold if classrooms remain closed?

MIPIM Asia Awards 2021 Today Reveals the Finest of the Real Estate Industry

HONG KONG SAR – Media OutReach – 25 October 2021 – Where the best of the best in real estate competes to win in Asia’s leading regional property awards, the MIPIM Asia Awards 2021 is proud to reveal and congratulate the chosen projects for overcoming the hurdles brought by COVID-19 and for upholding industry standards to the highest level.

 

This year, 33 property developments have been recognized by the jury panel comprised of prominent property leaders across Asia-Pacific.

 

After more than a decade hosting the MIPIM Asia Awards, it has become a prestigious event that celebrates remarkably designed properties and the ingenious teams behind it. The awards are open to wide-ranging projects throughout APAC that considers both completed and in-progress developments.

 

Chaired by François Trausch, Global CEO and Chief Investment Officer of Allianz Real Estate, Germany, the jury panel of 16 industry experts have studied close to 100 entries. The final winners come from 10 countries.

 

Members of the MIPIM Asia Awards 2021 jury panel are:

1.    François TRAUSCH, Global Chief Executive Officer & Chief Investment Officer, Allianz Real Estate GMBH, Germany

2.    George AGETHEN, Ivanhoe Cambridge, Senior Vice President, Asia-Pacific, Singapore

3.    Henry CHENG, Chongbang Group, CEO & Executive Director, China

4.    Stanley CHING, CITIC Capital Holdings, Senior Managing Director, Managing Partner & Head of Real Estate, Hong Kong SAR

5.    Donald CHOI, Chinachem Group, CEO, Hong Kong SAR

6.    Chris CHOW, LaSalle Investment Management, Senio Managing Director, Hong Kong SAR

7.    Harvey COE, Ernst & Young, Partner & Head of Greater China, M&A Real Estate, Hong Kong SAR

8.    Alison COOKE, Starr International Investment Advisors (Asia) Limited, Managing Director – Real Estate, Hong Kong SAR

9.    Tripp GANTT, Washington State Investment Board, Investment Officer Real Estate, USA

10.  George HONGCHOY, Link Asset Management Limited, Executive Director & CEO, Hong Kong SAR

11.  Charles LAM, Baring Private Equity Asia, Managing Director Real Estate, Hong Kong SAR

12.  Nicholas J. LOUP, Chelsfield, Group Vice Chairman, CEO Asia, Hong Kong SAR

13.  Ellen NG, Warburg Pincus, Head of China Real Estate, Hong Kong SAR

14.  Shuji TOMIKAWA, Mitsui Fudosan Investment Advisors, Inc. (MFIA), President, Japan

15.  Nicholas WONG, The Townsend Group, Partner, Hong Kong SAR

16.  Richard YUE, ARCH Capital Management Company Limited, CEO & CIO, Hong Kong SAR

The final Gold, Silver and Bronze award winners will be decided by the MIPIM Asia community who will soon be able to vote online for their favourite project in each category. Results will be unveiled at the Awards Gala Dinner on December 8 at the Grand Hyatt Hong Kong.

MIPIM ASIA AWARDS 2021 WINNERS

 

BEST GREEN DEVELOPMENT

Grand Central

Hong Kong SAR, China

Architect: Wong Tung & Partners Limited

Developer: Urban Renewal Authority, Sino Land Company Limited and Chinese Estates Holdings Limited

Other: CR Construction Company Limited (Main Contractor), Meinhardt (M&E) Limited (Mechanical & Electrical Engineer), AECOM Asia Co. Limited (Structural and Geotechnical Engineer / Façade Engineer on Curtain Wall / Town Planning Consultant), MVA Hong Kong Limited (Traffic Consultant), Hirsch Bedner Associates Limited (Interior Designer), Urbis Limited (Landscape Architect), Ramboll Hong Kong Limited (Environmental Consultant for Noise Impact Assessment), Ove Arup & Partners Hong Kong Limited (Environmental and Sustainability Consultant)

 

Shenzhen Rural Commercial Bank Headquarters

Shenzhen, China

Architect: Skidmore, Owings & Merrill

Developer: Shenzhen Rural Commercial Bank

Other: Arup Group Limited (Vertical Transportation, Landscape Architect, Fire Engineering), Mva Hong Kong Ltd (Traffic), Shenzhen Vanke Real Estate Co., Ltd. (Construction Manager), Beijing Institute Of Architectural Design (Architect of Record), Jangho Group Co., Ltd (Curtain wall & Window Systems)

 

Wink Hotel Saigon Centre

Ho Chi Minh City, Vietnam

Architect: AW² Architecture Workshop – Reda Amalou & Stéphanie Ledoux

Developer: Indochina Kajima Development Company

 

BEST HOTEL & TOURISM DEVELOPMENT

 

Park Hyatt Suzhou

Suzhou, China

Architect: Kohn Pedersen Fox Associates

Developer: Gold Mantis Enterprise
Other: China Construction Design International (Local Design Institute), Hersch Bender Associates (Interior Designer)

 

The Clan Hotel

Singapore, Singapore

Architect: DP Architects Pte Ltd

Developer: Far East Organization

Other: Hexacon Construction Pte Ltd (Main Contractor), KKS International (S) Pte Ltd (ID Consultant), Tinderbox Pte Ltd (Landscape Consultant)

 

The Ritz-Carlton, Nikko

Tochigi, Japan

Architect: NIKKEN SEKKEI LTD

Developer: TOBU RAILWAY CO., LTD.

 

BEST INFRASTRUCTURE, COMMUNITY & CIVIC BUILDING

 

Dengyun Art Centre

Fuzhou, China

Architect: Shanghai PTArchitects

Developer: Yango Group & XIANGYU REAL ESTATE

 

LAND Community Center

Xi’an, China

Architect: Atelier Ping Jiang / EID Arch

Developer: Shaanxi Vanland Real Estate Co., Ltd

 

Wetland Museum In Huailai

Hebei, China

Architect: Tenio Architecture and Engineering Co., Ltd.

Developer: Huailai Forestry Bureau

 

BEST MIXED-USE DEVELOPMENT

 

Far East Square, AMOY Hotel, The Clan Hotel

Singapore, Singapore

Architect: Multiply Architects LLP (Far East Square), DP Architects Pte Ltd (AMOY Hotel, The Clan Hotel)

Developer: Far East Organization

 

Shanghai EDGE

Shanghai, China

Architect: Aedas

Developer: Shanghai Kaitong Wenan Real Estate Development Co., Ltd

 

Suzhou International Finance Square

Suzhou, China

Architect: Kohn Pedersen Fox Associates

Developer: The Wharf (Holdings)
Other:
WTIL (Associate Architect), East China Architectural Design & Research Institute (Local Design Institute)

BEST OFFICE DEVELOPMENT


Alibaba Xixi Campus Phase 4

Hangzhou, China

Architect: NBBJ

Developer: Alibaba Group

Other: NBBJ (Landscape Consultant), Architectural Design and Research Institute of Zhejiang University (Local Design Institute), ARUP (Traffic Consultant / Vertical Transportation), Shanghai Construction Group (Main Contractor)

 

Shenzhen Rural Commercial Bank Headquarters

Shenzhen, China

Architect: Skidmore, Owings & Merrill

Developer: Shenzhen Rural Commercial Bank

Other: Arup Group Limited (Vertical Transportation, Landscape Architect, Fire Engineering), Mva Hong Kong Ltd (Traffic), Shenzhen Vanke Real Estate Co., Ltd. (Construction Manager), Beijing Institute of Architectural Design (Architect of Record), Jangho Group Co., Ltd (Curtain wall & window systems)

 

Wilmar International Headquarters

Singapore, Singapore

Architect: Eric Parry Architects Limited

Developer: Perennial Real Estate Holdings Limited

Other: Boustead Projects E&C Pte. Ltd. (Main Contractor), RSP Architects Planners & Engineers Pte. Ltd. (Local Architects, M&E & Structural Engineers), ICN Design International Pte. Ltd. (Landscape Design), Inhabit (Façade and Acoustic), Prime Structures Engineering Pte. Ltd. (Façade Contractor), Steve Leung Design Ltd (Interior Design), Nipek Pte. Ltd. (Lighting Design)

BEST REFURBISHED BUILDING

 

Central Market

Hong Kong SAR, China

Architect: AGC Design Ltd

Developer: Chinachem Group, Urban Renewal Authority

Other: Chinachem Group (Operator), AGC Design Limited (Heritage Consultant), Llewelyn-davies Hong Kong Ltd (Planner), Ove Arup & Partners Hong Kong Limited (Structural & Geotechnical Engineers), AECOM Asia Company Limited (Building Services Engineer), Shadow Design Ltd (Interior Designer), Hong Kong Cultural Imaging Workshop Ltd (Award Submission Consultant)

 

David Jones Elizabeth Street Flagship Store

Sydney, Australia

Architect: Benoy Limited (Interior Architect), Crone Architects

Developer: David Jones Pty Limited

Other: Mainbrace (Contractor), FPOV (Lighting Consultant)

 

Shinjuku Sumitomo Building, Re-innovation Project

Tokyo, Japan

Architect: NIKKEN SEKKEI LTD, TAISEI CORPORATION
Developer: Sumitomo Reality & Development Co., Ltd.

BEST RESIDENTIAL DEVELOPMENT


CHARM PREMIER GRAND MINAMIAZABU

Tokyo, Japan

Architect: NIKKEN HOUSING SYSTEM LTD

Developer: Hulic Co., Ltd.

Other: CHARM CARE CORPORATION (Operator)

 

InnoCell

Hong Kong SAR, China

Lead Architect: Leigh & Orange Limited

Developer: Hong Kong Science and Technology Parks Corporation

Other: Leigh & Orange Limited (Interior Designer), Hip Hing Engineering Co. Ltd. (Main Contractor)

 

Xixi Yunlu

Hangzhou, China

Architect: Hangzhou 9M Architectural Design Co., Ltd.

Developer: Hangzhou Greentown Guixi Real Estate Development Co., Ltd.


BEST RETAIL DEVELOPMENT

Hongkong Land’s Yorkville – The Ring

Chongqing, China

Architect: PH Alpha Design Ltd.

Developer: Hongkong Land Limited

Other: Lead8 (Interior Designer), ASPECT Studios (Landscape Designer), Popjoy Design (Botanical Garden Landscape Designer), Parsons Brinckerhoff (M&E Engineer), WSP (Facade Engineer), Brandston Partnership Inc. (Lighting Consultant)

Seazen Suzhou Wuyue Plaza

Suzhou, China

Architect: Benoy Limited (Interior Architect), CRTKL

Developer: Seazen Group

YUE City

Guangzhou, China
Architect: Atelier DYML
Developer: Yuexiu Property

Other: Atelier DYML (Interior Design), Guangzhou City Construction & Development Design Institute Co., Ltd. (Construction Drawings), Guangzhou City Construction & Development Design Institute Co., Ltd. (Landscape Design), RDesign International Lighting (Lighting Design), Shenzhen C.S.C Decoration Design Engineering Co. Ltd. (Curtain Wall Detail Development), Guangzhou Hanhua Architects+Engineers Co. Ltd. (Structural Consultant)

BEST URBAN REGENERATION PROJECT


Central Market

Hong Kong SAR, China

Architect: AGC Design Ltd

Developer: Chinachem Group, Urban Renewal Authority

Other: Chinachem Group (Operator), AGC Design Limited (Heritage Consultant), Llewelyn-davies Hong Kong Ltd (Planner), Ove Arup & Partners Hong Kong Limited (Structural & Geotechnical Engineers), AECOM Asia Company Limited (Building Services Engineer), Shadow Design Ltd (Interior Designer), Hong Kong Cultural Imaging Workshop Ltd (Award Submission Consultant)

 

Grand Central

Hong Kong SAR, China

Architect: Wong Tung & Partners Limited

Developer: Urban Renewal Authority, Sino Land Company Limited and Chinese Estates Holdings Limited

Other: CR Construction Company Limited (Main Contractor), Meinhardt (M&E) Limited (Mechanical & Electrical Engineer), AECOM Asia Co. Limited (Structural and Geotechnical Engineer / Façade Engineer on Curtain Wall / Town Planning Consultant), MVA Hong Kong Limited (Traffic Consultant), Hirsch Bedner Associates Limited (Interior Designer), Urbis Limited (Landscape Architect), Ramboll Hong Kong Limited (Environmental Consultant for Noise Impact Assessment), Ove Arup & Partners Hong Kong Limited (Environmental and Sustainability Consultant)

Siu Hei Commercial Centre Revitalization

Hong Kong SAR, China

Architect: Uni-China Business Management Limited

Developer: Gaw Capital Partners

Other: One Bite Design Studio Limited (Rooftop Designer)

BEST FUTURA PROJECT


Hana Headquarters

Cheongna, South Korea

Architect: NBBJ

Developer: Hana Financial Group

Other: NBBJ (Interior Designer / Landscape Designer), ESI and NBBJ Studio (Experiential Designer), Gansam Arhitects + Partners, Kunwon Architects Planners Engineers (Local Design Institute), Thornton Tomasetti (Façade and Sustainability), Arup (Vertical Transportation and Lighting), Heerim (Construction Manager)


International Sports and Culture Exchange Center

Shenzhen, China

Architect: Aedas

Developer: Shenzhen Bureau of Culture


King Lam Street Commercial Development

Hong Kong SAR, China

Architect: Collective Studio Limited (Podium Design Architect & Interior Design Architect), Rocco Design Architects Ltd., Hong Kong, China (Executive Architect & Tower Design Architect)
Developer: New World Development Company Limited
Other: AECOM, Hong Kong, China (Structural, Civil & Geotech. Engineering, Façade Engineering), ARUP, Hong Kong, China (LEED/ BEAM/ WELL Sustainability), J.Roger Preston Limited, Hong Kong, China (Electrical and Mechanical Engineering)

BEST FUTURA MEGA PROJECT


Alibaba Central China Headquarters and Industrial Complex

Wuhan, China

Architect: Benoy Limited

Developer: Alibaba Group

 

Baoshan Steel Park

Shanghai, China

Architect: Sasaki Associates, Inc., Sasaki Associates (Shanghai) Ltd.

Developer: Shanghai Baodishangshi Urban Production Development Co., Ltd.

Other: HMD (Shanghai) Engineering Consultancy Corp. Ltd. (Architecture Consultant), Beijing Ning Field Lighting Design Corp., Ltd. (Lightning Consultant), Shanghai Academy of Landscape Architecture Science and Planning (Soil and Ecology Consultant), Shanghai Urban Construction Design & Research Institute (Group) Co., Ltd. (Transportation Consultant)

 

Luohu Public Realm Revitalization

Shenzhen, China

Architect: Sasaki Associates, Inc., Sasaki Associates (Shanghai) Ltd.

Developer: China Resources (Shenzhen) Co., Ltd.

 

For the photo of the winning projects, please visit HERE.

About Reed MIDEM

Founded in 1963, Reed MIDEM is an organiser of professional, international markets that are essential business platforms for key players in the sectors concerned. These sectors are MIPTV, MIPDOC, MIPCOM, MIPJUNIOR in Cannes, MIP China in Hangzhou and MIP Cancun in Mexico for the television and digital content industries; MIDEM in Cannes for music professionals; Esports BAR in Cannes and in Miami for the esports business; MIPIM in Cannes, MIPIM Asia Summit in Hong Kong SAR, Propel by MIPIM – NYC in partnership with MetaProp, Propel by MIPIM – Paris and Propel by MIPIM – Hong Kong for the tech and real estate industry; MAPIC and LeisurUp in Cannes, MAPIC Russia in Moscow, MAPIC Italy and The Happetite in Milan, and MAPIC India in Mumbai for the retail real estate sector. www.reedmidem.com

About Reed Exhibitions

Reed Exhibitions is a leading global events business. It combines face-to-face with data and digital tools to help customers learn about markets, source products and complete transactions at over 500 events in almost 30 countries across 43 industry sectors, attracting more than 7 million participants.

Our events, organised by 35 global offices, leverage industry expertise, large data sets and technology to enable our customers to generate billions of dollars of revenues for the economic development of local markets and national economies around the world. Reed Exhibitions is part of RELX, a global provider of information and analytics for professional and business customers across industries. www.reedexpo.com

For additional information about the MIPIM Asia Summit & Awards 2021, please visit here.

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E Green Global Microtubers receive PotatoEurope’s Golden Innovation Award

HONG KONG SAR – Media OutReach – 25 October 2021 – During a special award ceremony on Wednesday September 1st, a professional jury awarded the PotatoEurope Gold Innovation Award to the South Korean company Microtubers of E Green Global (EGG). Crop.zone’s Nucrop clinched the Silver Award, while HZPC’s Smart Bigbag received the Bronze. The PotatoEurope Innovation Awards are made to the PotatoEurope 2021-exhibiting company deemed to have met the three key criteria best –– innovativeness, potential impact in the potato market and applicability in the potato sector.

EGG’s technology produces virus-free and vigorous Microtuber seed potatoes through mass production in bio-secured plant factories which are continually harvested throughout the year. These lab-grown potato seeds are capable of being machine-planted directly in open field. “This special innovation means a lot in different domains, from health and speed to broad applicability. We see the EGG Microtubers as a leap forward in the towards innovation of varieties and believe that the innovation will soon be widely applicable. We expect that the industry will recognize EGG Microtubers as a fundamental but also applicable breakthrough,” said jury member Dirk Duijzer, figurehead of the Dutch Top Sector Agri & Food, when awarding the prize.

 

EGG is the first company that has managed to successfully manufacture Microtubers on a commercial scale.  They have managed to develop a disruptive technology that overcomes the limitations of the current seed potato supply system and are currently the only company to effectively enable “Lab to Farm” seed potatoes on a global scale. EGG’s method allows for the production of virus-free high quality seed potatoes in a shorter span of time, cutting the time required of five to six years, to one or two years, giving farmers and customers faster and cheaper crops at a higher quantity and quality.

 

Clearly, the PotatoEurope Innovation Awards recognises “[a]amazingly interesting innovations, practically all meaningful and completely different in focus: speed of reproduction, strengthening freshness and quality of the final product, less use of harmful substances, better tracking and tracing, less disease susceptibility, optimization of the producer’s income and so on”, as quoted from Duijzer. “Many specialists are involved in these innovations: electronics, mechanical technology, digital technology, marketing, DNA- technology and logistics, all highly specialized. This broad range of different directions and specializations shows that entrepreneurs in the potato chain have to work on the cutting edge to stay competitive.”

About E Green Global

Founded in 2009, E Green Global is the only company in the world that manufactures MICROTUBERS on a commercial scale. It has received verification of its MICROTUBER technology through the field tests in the US, Canada, China, and Korea conducted with major global biggest agricultural companies.

#EGreenGlobal

Laos Confirms 615 New Cases of Covid-19 and One New Death

Covid-19 Update

Laos has recorded 615 new cases of Covid-19 across the country and one death today, with a large number of cases in Luang Prabang.

Laos Launches Enhanced Covid-19 Vaccination Certificate with QR Code

Laos Launches QR Code Vaccination Certificate
A man holding the new QR Code vaccination certificate (Photo: MOH)

Health authorities in Laos have launched a new enhanced Covid-19 vaccination certificate with a QR Code that will allow for greater authenticity and digital verification.

Asia Pacific Employer Medical Benefit Costs to Grow 8.2 Percent in 2022: Aon Survey

  • The 2022 Medical Trend Rate for Asia Pacific is up slightly compared to last year’s 8.0 percent and remains above general price inflation
  • In the past year, utilisation of outpatient services dropped the most in Asia Pacific due to COVID-19 pandemic-related movement restrictions
  • Global health benefit costs to rise 7.4 percent as medical utilisation returns to pre-COVID-19 pandemic levels

SINGAPORE – Media OutReach – 25 October 2021 – Employer-provided medical benefit costs in Asia Pacific are forecasted to rise 8.2 percent in 2022, outpacing general inflation by 5.8 percent, according to the 2022 Global Medical Trend Rates Report recently released by Aon plc (NYSE: AON), a leading global professional services firm.  

 

The utilisation of medical plans has recovered from a low in April 2020 and is expected to exceed pre-COVID-19 pandemic levels during 2022 as pandemic-related movement restrictions are further eased. This, combined with rising inflationary pressures and an expectation that more of the cost of COVID-19 healthcare will transition to the private sector, is increasing cost expectations.

 

Tim Dwyer, Head of Health Solutions, Asia Pacific, Aon said, “The pandemic caused overall lower utilisation levels in 2020, which provided plan sponsors with some respite. However, the dual effect of higher expected utilisation and inflationary pressures presents new cost challenges that need to be managed. The normalisation in utilisation patterns, emerging risks such as mental and musculoskeletal health and the potential for a greater COVID-19 cost burden to fall on the private sector will require employers to carefully analyse their medical plans as cost pressures increase over the next two renewal cycles.”

 

According to the report, over the last year there has been a significant increase in musculoskeletal conditions likely brought about by increased work-from-home arrangements. Furthermore, medication-related expenses have experienced some of the largest inflationary increases. However, outpatient upper respiratory tract infection claims were significantly lower than previous years, but these are expected to recover during 2022 as social distancing and movement restrictions are lifted.

 

“The good news is that there are plan design and behavioural interventions available to mitigate the cost increases. The route will be uncertain and will vary by country, so it is important that companies use data and insights to make better informed decisions to secure commercial protections at their renewals to deal with the volatility,” Dwyer added.

 

Globally, costs for employer-sponsored medical plans in 2022 are forecasted to increase 7.4 percent, though projected medical trend rates vary significantly by region. Costs are expected to increase the most in the Middle East & Africa, with average medical trend rates forecasted at 11.1 percent. In contrast, Europe is projected to see the lowest average medical premium rate increase, at 5.6 percent.

 

Forecasted Health Care Benefit Cost Growth from 2021 to 2022

2021

2022

Global

7.2%

7.4%

Asia Pacific

8.0%

8.2%

Europe

5.5%

5.6%

Latin America & Caribbean

8.8%

10.6%

Middle East & Africa

12.0%

11.1%

North America

7.0%

6.6%

 

Forecasted Health Care Benefit Cost Growth from 2021 to 2022 for Select Countries in Asia Pacific

2021

2022

Australia

2.5%

3.1%

China

7.0%

7.0%

Hong Kong

5.3%

5.6%

India

9.0%

13.0%

Indonesia

13.0%

12.2%

Japan

0.0%

0.0%

Malaysia

14.0%

12.0%

Philippines

8.0%

8.0%

Singapore

7.0%

7.0%

South Korea

7.5%

8.0%

Thailand

6.6%

11.7%

Vietnam

8.7%

5.5%

 

Aon’s report confirms the increasing impact of non-communicable diseases on health care costs globally. In Asia Pacific, Cardiovascular disease, Cancer/Tumor Growth, ENT/Lung Disorder/Respiratory, Diabetes and Musculoskeletal/Back were the most prevalent health conditions driving health care claims.

 

Leading Medical Conditions in Asia Pacific and the World Driving Medical Claims Experience

Asia Pacific

Global

1)

Cardiovascular disease

Cardiovascular disease

2)

Cancer/Tumor Growth

Cancer/Tumor Growth

3)

ENT/Lung Disorder/Respiratory disorder

High Blood Pressure/Hypertension

4)

Diabetes

Diabetes

5)

Musculoskeletal/Back

ENT/Lung Disorder/Respiratory disorder

 

The report also confirms the growing prevalence of modifiable risk factors from unhealthy personal habits in Asia Pacific, such as High Blood Pressure, Physical Inactivity, Poor Stress Management, High Cholesterol and Ageing, which directly contribute to the emergence of non-communicable disease.

 

Leading Health Risk Factors in Asia Pacific and the World

Asia Pacific

Global

1)

High Blood Pressure

High Blood Pressure

2)

Physical Inactivity

Physical Inactivity

3)

Poor Stress Management

Poor Stress Management

4)

High Cholesterol

Bad Nutrition

5)

Ageing

High Cholesterol

 

“Insurers have responded to emerging needs created by the pandemic by delivering virtual consultations, prescription delivery and support for employee physical and mental wellbeing. While these services are likely to introduce short-term cost pressures, they should – over time – have a controlling effect on medical trend rates,” said Alan Oates, Principal and Actuary, Asia Pacific, Health Solutions at Aon. “As we emerge from the pandemic, employee wellbeing is now, more than ever, critical to controlling costs and boosting organisational productivity, to build a more resilient workforce. Careful analysis of medical claims and population risk factors can target interventions that modify behaviours to reduce the incidence of non-communicable disease. Employers, both large and small, can take immediate action in this area.”

 

To view the report, visit https://insights-north-america.aon.com/research/2021-global-medical-trend-rates-report.

 

Methodology

The survey was conducted among 108 Aon offices, each one representative of a country that broker, administer or otherwise advise on employer-sponsored medical plans. The survey responses reflect the medical trend expectations of the Aon professionals based on their interactions with clients and insurance carriers represented in each country.

 

About Aon

Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

Follow Aon on Twitter and LinkedIn. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here.

#Aon

Flint Ideas advocates the unique concept of “Uniform Fashion”

HONG KONG SAR – Media OutReach – 25 October 2021 – Nowadays, many uniforms are still very traditional, which are visually unattractive and outdated. ‘Flint Ideas’- a shirt-printing & uniform customization Company, understands that visually unappealing uniforms could affect the mentality of many workers, thereby reducing work efficiency and service quality.

 

In this regard, the local creative uniform company- Flint Ideas, with the motto of ‘More than just a Uniform’, is committed to creating uniform fashion lines that bring out strong brand images. The company has launched the service of uniform fashion design, to create uniforms that are fashionable and visually appealing. The visual of the uniform is very important to many businesses since the appropriate uniform fashion helps to create a strong brand image, which would then enhance work confidence and efficiency.

 

Nowadays, Uniform Fashion has increasingly attracted more attention in Western countries. In addition, the green uniforms of the characters in the popular Korean drama ‘Squid Game’, have become the highlight of many discussions. The Uniform & shirt wear fashion design team of Flint Ideas has taken inspiration from the fashion design of the popular drama, to promote the concept of visually attractive and comfortable uniform and t-shirt wear fashion.

 

About “Flint Ideas”

“Flint Ideas” is one of the most professional uniform and t-shirt printing companies in Hong Kong. The company has a team of dedicated and passionate staff from various departments, such as the sales department, design department, purchasing department, and production department. With excellent management, the company provides high-quality uniform design services for each of their customers, with a wide range of products that range from team shirts, pant shirts, team jackets, wind jackets, sweatshirts, printed t-shirts, and uniforms.

“Flint Ideas” has its factories of modern production lines and technical equipment in Dongguan and Huizhou in China. The quality of their products has always fulfilled each requirement of their customers, given that the production of their shirts, team shirts, and uniforms, has undergone strict quality control procedures. “Flint Ideas” has always insisted on exquisite craftsmanship, affordable prices, and professional services. Therefore, the company has gained the trust and support of its customers, thanks to the good reputation from various schools, uniform teams, and many commercial organizations.

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