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Authorities Fear Delta Variant Spread in Champasack Province

Delta variant in Soukhouma District of Champasack

Authorities have confirmed three cases of Delta variant Covid-19 in Soukhouma District of Champasack Province amid fears of community spread.

AIA Singapore reveals Singaporeans spend 2.5 times more on their children’s needs than their retirement planning

60% of Singaporeans face an uncertain future by not prioritising their retirement planning

SINGAPORE – Media OutReach – 7 July 2021 – AIA Singapore today unveiled that young families in Singapore have deprioritised planning for their retirement because they are spending at least 2.5 times more of their monthly expenses on their children’s needs rather than taking charge of their own retirement planning. Parents spend almost 20%[1] of their income on their children but less than 7% on their own retirement planning. 70% also said they intend to either maintain or increase the amount of income allocated to their children’s expenses.

The average RQ score for Singaporeans is 55%, and 40% of surveyed Singaporeans scored below 50 – an indication that retirement preparedness has room for improvement.

In two studies[2] conducted among 1,000 and more members of the general population of Singapore in January 2021 and June 2021 respectively, the leading life insurer identified three factors driving these financial priorities among young families:

  • A lack of financial understanding has led to the over-reliance on bank savings. For 92% of Singaporeans, bank deposits are the most popular savings instruments, while 21% supplement their bank savings with investment tools. Nearly 1 in 3 Singaporeans’ savings was negatively impacted in 2020. Singaporeans use at least 3 tools to manage their savings, with a median amount of between S$251-S$500 set aside monthly for retirement.
  • Savings priorities tend to be more short term focusing on family needs and emergency spending instead of longer term goals like retirement. In terms of savings goals, emergency spending is the top priority (64%), followed by ensuring financial security for the family (56%). Among young families with kids, 76% intend to leave an inheritance for their children, but only half have started planning for it.
  • The nest egg required to maintain a desired retirement lifestyle is increasingly expanding, but most are underestimating the amount needed. Singaporeans have one of the longest life expectancies in the world at 84.8 years[3]. On average, Singaporeans plan to retire at 60 years old, which will require at least 25 years of retirement income. Close to half of respondents want to maintain their current lifestyle after retirement, but more than two-thirds (66%) underestimate the actual retirement amount needed by S$967 per month. Among families with children, the underestimated amount is slightly higher at S$1,020 per month.

As a simple rule of thumb, monthly income is recommended to be spilt using 50/30/20 rule[4]. Allocate the first 50% of one’s take-home income pay on necessities such as housing, food, and transport. The remaining half should be split up between 20% for long-term savings and investments and with 30% for “wants” like hobbies and travel. However, research shows that Singaporeans are 13% below the target for their retirement planning.

Ms. Melita Teo, Chief Customer and Digital Officer, AIA Singapore, said, “Retirement planning is an essential part of securing our longer term financial security, not just for parents, but for the entire family, so everyone can look forward to a brighter future with peace of mind.”

“We recognise this is not an easy balancing act, especially amid growing financial insecurity as a result of COVID-19. Many also fear becoming a burden on their children later on in life. As part of AIA’s brand promise of enabling Singaporeans to live healthier, longer, better lives, we want to help people better manage their financial priorities when preparing for their golden years. We are committed to continuously innovating our suite of customisable solutions with the goal of ensuring that a golden retirement is within reach for Singaporeans, no matter the circumstances,” added Ms. Teo.

From pre-pandemic to endemic COVID-19: The shortfall between expectations and reality of retirement is widening

In March 2020, the AIA Retirement Quotient (RQ) survey[5] showed that 54% of Singaporeans were 14-years short when it comes to adequately planning for their retirement, when compared to the national average life expectancy of 84.8 years old. While most Singaporeans have started planning for their retirement, 70% felt underprepared.

Today, retirement goals have taken a backseat. COVID-19 uncertainties further necessitated the shifting of savings allocation towards their children and shorter-term needs such as emergency funds instead of themselves.

Pre-pandemic[6]

Today[7]

Average intended retirement age was 58.8 years old

Average intended retirement age widened to 60 years old

Median value set aside for retirement each month was S$251 – S$500

Median value set aside for retirement each month remains the same at S$251 – S$500

Expected monthly expenditure during retirement was S$1,500

Expected monthly expenditure during retirement is now S$2,000

For young families with kids, the expected amount is slightly higher: S$2,100

Retirement expectation:

  • Retirement no longer means stepping away from work entirely but is an opportunity to pursue hobbies and passion projects.
  • Three in five Singaporeans plan to reduce their workload or switch careers upon retirement. Only 38% intend to cease work altogether. 49% intend to continue working reduced hours and 13% want to switch career paths entirely.

Retirement expectation:

  • 91% fear income loss and job instability. 95% think the economic fallout of the pandemic will last beyond the second half of 2021.
  • While close to half of respondents want to maintain their current lifestyle, an equal percentage also expect a much simpler lifestyle during their retirement.

No doubt a result of COVID-19 uncertainties as well as changing attitudes towards retirement, the retirement goals consumers are setting today have also become more modest. Most of these goals are still pegged almost exclusively to financial health and do not consider other aspects of wellness.

While the pandemic had accelerated the need to save more, Singaporeans’ focus, however, has been on short-term savings for their emergency and family needs, with little regard for their retirement, even though they are expecting an increase in their monthly expenditure during retirement. Their mindset still remains, which is worrying as they are still setting aside the same S$251 to S$500 median value for their retirement each month, while expecting to maintain their current lifestyle when they retire, while not forgetting the inflation rate which would affect how much your retirement dollars will really be worth in the future.

“Achieving our desired retirement is not limited to being financially prepared, Singaporeans need to look beyond just their finances if they intend to truly enjoy their golden years. To help them on this journey, besides continuing to study the gaps in Singaporean’s retirement readiness, we have also developed a tool to help Singaporeans take a more holistic approach to retirement. By considering all aspects of retirement preparedness, we are empowering our customers to let their aspirations drive the structure of their retirement plans, rather than allowing their current finances dictate their future,” added Ms. Teo.

A holistic approach to retirement preparedness

Retirement is an issue of national importance in Singapore, home to one of the most rapidly ageing populations in the world[8]. It is estimated that by 2030, one in four people will be aged over 65 years old, and by 2050, the number is expected to increase to almost one in two[9]. Despite the urgency of the situation, many of the retirement products available on the market only cater to financial and health preparedness and do not account for the emotional, mental, and social aspects of retirement.

AIA Singapore in partnership with Ipsos developed a Retirement Quotient (RQ) – an indicator to measure Singaporeans’ retirement readiness and guide them on a more holistic retirement planning journey. The RQ is made up of four distinct pillars to guide Singaporeans to achieve their golden retirement: financial preparedness, health preparedness, social support, and trust in institutions.

Financial Preparedness

Financial preparedness remains the biggest but far from the only determinant of retirement preparedness. Financial preparedness is determined by the following attributes: having in place a clear financial plan that allows one to achieve their desired retirement lifestyle, and being confident in having made sufficient financial preparations to accumulate enough wealth to account for retirement.

Social Support

While the vast majority of Singaporeans opt to confide in a partner or spouse about their plans for retirement, one in five Singaporeans do not share their retirement plans with anyone. RQ respondents who scored poorly in the social support pillar tended to receive low scores throughout. The second largest pillar of retirement preparedness, the positive impact of social support indicates that retirement is not just a personal decision and that having deeper conversations with loved ones, whether they be family, dependents, or friends, contributes significantly to retirement preparedness.

Health Preparedness

Good health alone cannot drive retirement preparedness, but it enhances individual retirement preparedness when coupled with robust financial planning. In terms of health, 59% of Singaporeans said that reducing the risk of illnesses was the primary motivator to keeping fit as opposed to enjoying their later years (41%). Of the 59%, married couples and families cited wanting to avoid financially burdening their loved ones as the reason, while others were keen to avoid depleting their nest eggs on additional healthcare costs.

Trust in Institutions

While trust comprised the smallest pillar, low scorers for this section tend to be the least prepared for retirement, are not financially-savvy, and have little access to professional advice from established financial institutions including banks and insurers.

Conclusion

While parents prioritise their children, almost 70% of young parents with children do not want to burden them and other family members and friends financially during retirement. However, the irony is that those who are facing a shortfall in their retirement planning might have to rely on their children for retirement eventually. Hence, as parents prepare their children and give them the best for their bright future, they should also consider proper retirement planning for themselves to avoid burdening their children during their golden years.

Understanding the gaps ahead of one’s golden years and having a trusted partner are crucial elements in attaining a well-rounded retirement. AIA Singapore is committed to journeying with Singaporeans to help them be financially prepared by offering a comprehensive suite of innovative products and tools, while also inspiring them to lead healthier lifestyles. AIA Singapore’s aim is to ensure everyone can have the financial freedom to live their desired retirement and be in pink of health to enjoy their golden years with their family.

For more information on AIA’s comprehensive retirement proposition, please visit: https://www.aia.com.sg/retirement




[1] Parents spend almost 20% of their income on their children’s needs, encompassing education and saving for their children’s future.

[2] AIA Save Smarter Study 2021 surveyed general consumers across eight markets – Hong Kong, China, Thailand, Malaysia, Vietnam, Indonesia, Philippines, and Singapore – in January 2021. AIA360 Retirement Study 2021 surveyed 331 customers in Singapore in June 2021.

[5] The AIA Retirement Quotient (RQ) survey studied 1,000 members of the general Singapore population mid-March 2020.

[6] According to findings from the AIA Retirement Quotient (RQ) survey conducted in mid-March 2020.

[7] According to findings from AIA Save Smarter Study 2021, AIA360 Retirement Study 2021, and AIA Health Matters Survey 2021 conducted in June 2021.

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei, Macau SAR and New Zealand, and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$326 billion as of 31 December 2020.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 38 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).


#AIA

yeedi Redefines Robot Mops with the Debut of yeedi mop station

Europe’s first self-cleaning robot mop & vacuum that washes the mopping pads automatically

BERLIN, GERMANY – Media OutReach – 7 July 2021 – yeedi, a robot vacuum brand committed to delivering intelligent floor-cleaning technology for people in pursuit of high efficiency, brings yeedi mop station to European customers. This 2-in-1 robot mop and vacuum features a revolutionary self-cleaning station to wash and damp the mopping pads automatically for a truly hands-free mopping experience. Designed with 2 spin mopping pads, rotates at 180r/min with a 10N force to the floor, customers can expect effective mopping performance.

“Enough water, sufficient pressure to the floor, and an always-clean mop are three basics to ensure an ideal mopping result. But few robot mops on the market managed to meet these 3 preconditions.” Said Gary, Li, General Manager of yeedi, “Dedicated to delivering a reliable robot mop to our customers, yeedi mop station is engineered with the basic logics of mopping making it possible for our users to experience a thorough and truly hands-free floor cleaning.”

Hands-Free Mopping with Built-In Washing Machine for the Mops

yeedi’s self-cleaning station works as a built-in washing machine for the mops. Unlike other robots on the market with mini water tank, it features separate clean and waste water tanks (3500ml each) for systematic water disposal. When the mops get dirty and dry, the robot will return to the base station for mop washing & damping and resume cleaning right where it left off. After cleaning is done, the built-in fan takes over to dry the mops in case of odor generation and mildew breeding.

Effective and Reliable Mopping Performance

yeedi mop station features an intelligent mopping system to mimic hand mopping. The 2 spin mopping pads rotating at a speed of 180r/min are pressed tightly against the floor by a 10N downward pressure. In this case, stains can be loosened and removed easily. The built-in carpet detection sensor smartly steers the robot away from carpet when mopping to avoid contaminating your carpet.

Wet and Dry Clean at the Same Time with Hybrid Design

yeedi mop station is versatile. It mops and vacuums simultaneously during cleaning. Boasting a 2500Pa strong suction power, yeedi sucks up pet hair, crumbles and dirt hidden deep in the crevices. It learns your home layout precisely and plans efficient cleaning paths with the help of the Visual Mapping technology.

Affordability

Priced at €649, yeedi mop station will be available in the beginning of August. As a launching offer, the first 300 purchases of yeedi’s subscribers can get an over €100 worth of early-bird perk.

Grab the early-bird perks here:

Germany:

https://de.yeedi.com/pages/yeedi-mop-station-landing

Other European Countries:

https://eu.yeedi.com/pages/yeedi-mop-station-landing

About yeedi

yeedi is an up-and-coming robot vacuums supplier launched in 2019. We gathered a group of robotic and housekeeping experts who are passionate about life and keen to innovations to bring quality smart products with modern design and practical features to customers all over the world.

#yeedi

MOVE Network and Binance NFT Marketplace are Jointly Launching an Exciting NFT Drop Event for Brightburn

HONG KONG SAR – Media OutReach – 7 July 2021 – MOVE Network, the world’s leading NFT aggregator, is working with Binance NFT Marketplace to launch an NFT drop for the American superhero horror film named Brightburn. This highly anticipated NFT debut is expected to drop as early as Q3 2021.

MOVE is kicking things off by creatively tokenizing an esteemed selection of Brightburn’s best artwork and digitizing the world’s first superhero horror film NFTs. On April 29, 2021, MOVE Network announced its partnership with The H Collective, a well-known film corporation working with Hollywood’s top producers and talent, for the upcoming release of premier NFT projects in the film industry such as this Brightburn NFT drop.

Binance NFT Marketplace offers an open market for artists, creators, crypto enthusiasts, NFT collectors, and creative fans around the world, with the best liquidity and minimal fees. Consisting of three categories, Premium Events, Mystery Box and a trading Marketplace, Binance NFT features valuable collectibles and an easily accessible trading market for all of its users.

MOVE proudly confirms its NFT Drop Event for Brightburn digital assets on one of the world’s largest NFT marketplaces, Binance NFT Marketplace. This collaboration allows MOVE to leverage Binance’s blockchain NFT technology and offer Brightburn themed NFTs on Binance NFT Marketplace. The exciting NFT Drop Event is expected to capture the attention of Brightburn and superhero fans alike. The fans can subscribe today on MOVE Network to stay informed on the latest news. With a promising future ahead, MOVE will continue co-producing innovative digital assets with its exclusive film industry IP.

“The NFT Drop on Binance NFT Marketplace gives both companies a more robust way to market and distribute content. With the trust, integrity, and transparency that Binance brings, MOVE will bring its unique value proposition to the world of movie fans. In our collaboration with Brightburn, we have access to a broad portfolio of IP and unique NFT offerings that is beneficial to our clients and partners,” said Daniel Bokun, President & Co-Founder of MOVE Network.

“The movie industry is always changing and we’ve been lucky to have been part of that process for the last few years. Movies and streaming content are rapidly moving into the crypto space via NFTs, which is another major shift in the world of global entertainment. We’re excited by both our collaboration with MOVE and witnessing Brightburn transform as a crypto asset,” said Kent Huang, Executive Producer of Brightburn and the Co-Chairman of The H Collective.

“The NFT launch on Binance NFT Marketplace would benefit both parties and further extend the NFT ecosystem. We are proud of MOVE and strongly support MOVE to develop innovative NFT product and derivatives. As investor, we are expecting MOVE to lead the market and re-define the NFT market” , said Richard Wang, Partner of DraperDragonFund.

MOVE Network is part of a larger tech group, Aladdin Technology Holdings, which specializes in blockchain, fintech platforms, and emerging platform technology. As the world’s largest NFT aggregator, MOVE covers a wide spectrum of NFT products such as entertainment, music, artwork, and Esports. MOVE is teaming up with different IP distribution partners for NFT issuance in Asia and North America.

About Binance NFT Marketplace

Binance NFT Marketplace offers an open market for artists, creators, crypto enthusiasts, NFT collectors and creative fans around the world with the best liquidity and minimal fees. Consisting of three categories, Premium Events, Mystery Box and a trading Marketplace, Binance NFT features valuable collectibles and an easily accessible trading market for all of its users.

For more information, visit https://nft.binance.com/

For creators and artists’ collaboration; contact email: nft@binance.com

About MOVE Network

MOVE Network is the largest NFT aggregator covering a wide spectrum of NFT products. MOVE Network allows enterprises and start-ups to capture value today by using blockchain technologies to trade, stake, NFT creation, and auction assets. The MOVE Network comprises of; MOVE market, the $MOVD token and the MOVE Chain. Users can utilize MOVE Network to own NFT IP covering entertainment, music, artwork, and also Esports. The MOVE team collaborates with different IP distribution partners for NFTs issued in Asia and North America.

Learn more about MOVE Network

#MOVENetwork

Cushman & Wakefield : Office Leasing Activity Grows but Availability Remains High

F&B Rents in First Rise Since Q3 2016 yet Relaxation of Cross-Border Restrictions may Impact Short-Term Demand

Highlights of Office Market

– Citywide rents dropped 1.4% q-o-q, mild decline from -2.0% q-o-q in Q1

– Net absorption at -192k sq ft, improved from -900k sq ft in Q1

– Availability rate at 14.4% is expected to remain stable in 2H 2021

Highlights of Retail Market

– YTD retail sales increased by 8.5% y-o-y

– Vacancy rate remained flat

– Overall rents to stabilize in 2H 2021

– Relaxed travel restrictions will induce a short-term drop in retail demand as locals resume outbound travel

HONG KONG SAR – Media OutReach – 7 July 2021 – Global real estate services firm Cushman & Wakefield revealed today that both office and retail rental markets have shown initial signs of stabilization in Q2 2021. While office leasing activity is on the rise, the average availability rate is expected to remain at a similar level of 14.4% throughout 2021. Leasing activity was most active in the finance and insurance sectors.

Table 1 – Hong Kong Office Rents Comparison

Source: Cushman & Wakefield Research

Table 2 – New Leasing Transactions

Source: Cushman & Wakefield Research

Table 3 – Retail Sales Comparison

Source: Hong Kong Census & Statistics Department; Cushman & Wakefield Research

Table 4 – Number of Fitness Centres in Hong Kong

Source: Hong Kong Fitness Guide, Asian Academy for Sports & Fitness Professionals (HKSFP)

The F&B sector retail rental value recorded an overall mild increase for the first time since Q3 2016, mainly as a result of growing demand for fine-dining options as residents have turned to upscale dining experiences as an alternative to the travel they enjoyed before the pandemic. Meanwhile, demand from lifestyle and wellness brands, including gyms and fitness operators, continues to rise as people’s daily routines and attitudes towards healthier lifestyles continue to take shape.

Office Market – Leasing Activity Increasing

Overall rental value declined at a milder pace in Q2 2021, resulting in an all-district average drop of 1.4% q-o-q. Office rents in Greater Tsimshatsui and Kowloon East have dropped 3.5% and 2.3% q-o-q respectively, the highest two among all sub-markets. Mr. John Siu, Cushman & Wakefield’s Managing Director, Hong Kong, commented, “Office rental value is still under pressure as most occupiers remain cost-conscious, availability of office space for lease is high, and the economy is still in its early stages of recovery.”

Net absorption recovered significantly from the record negative high figure of -900,000 sq ft in Q1 to -192,400 sq ft in Q2. Surrendered stock dropped by 223,700 sq ft, or 31% q-o-q, from 724,500 sq ft to 500,800 sq ft. Amongst the reduced surrendered stock, 131,100 sq ft (59%) was leased by replacement tenants, and the remaining 92,600 sq ft (41%) returned to the market as direct stock. In terms of total area, most of the new lettings in Q2 were committed by tenants in the banking & finance (22%) and insurance (21%) sectors. MNCs contributed 65% of the new lease area in the quarter, while mainland China and Hong Kong companies accounted for the remaining 20% and 15% respectively (Table 2).

Meanwhile, the overall availability rate remained at a similar level of 14.4%, as compared with 14.0% in Q1. Mr. Siu added, “We have seen a gradual increase in leasing activity and enquiries in Q2 as office occupiers have become more prepared to make real estate decisions in the past few months. Yet the overall availability rate still lingers at around 14%. We forecast the rate to remain quite stable for the rest of 2021, but overall space availability will rise next year when new projects are due for completion.”

A total of 2.75 million sq ft of new office supply will enter the market in 2022, including Two Taikoo Place, AIRSIDE, Millennium City 8, 388 Kwun Tong Road and 888 Lai Chi Kok Road. With new office space added to the market, we anticipate that more large occupiers will take advantage of the current market downturn to make pre-lease commitments in these new projects for office consolidation, with a view towards minimizing their occupancy costs and improving their working environment.

Retail Market – F&B & Wellness Demand on the Rise

Local consumption has supported positive retail sales with an 8.9% y-o-y increase in the first five months of the year. Sales from Jewellery & Watches and Fashion & Accessories segments demonstrated positive growth of 34.2% and 25.6% y-o-y respectively (Table 3). Yet overall retail rents were flat in Q2, as both tenants and landlords remain conservative and cautious on the overall economic recovery in the long-run.

Diving deeper into segment analytics, F&B and health and wellness are outperforming other sectors. Mr. Kevin Lam, Cushman & Wakefield’s Executive Director, Head of Retail Services, Hong Kong, said, “The impact of the pandemic has resulted in pent-up demand for relaxation and lifestyle adventures. We are seeing surging demand for fine-dining as an alternative, prompting the F&B sector, especially high-end authentic and specialty luxury dining, to lease superior retail spaces in town. Yet, current demand is focused on F&B brands that emphasize culinary journeys and personal experiences, and hence traditional and chain F&B outlets may not benefit as much from this cycle of recovery. However, we anticipate that relaxation of cross-China border restrictions in the near future will prompt a short-term drop in overall retail demand, especially in the F&B sector, as local residents resume outbound travel.”

Meanwhile, health and wellness brands are evolving and expanding their footprint in Hong Kong. The number of fitness centers, in particular 24-hour gyms, has grown exponentially since the pandemic. This fitness trend is expected to prevail in 2021 and into the years ahead (Table 4).

Furthermore, the new HK$5,000 electronic consumption voucher offer to each eligible Hong Kong permanent resident and new arrival aged 18 or above, totaling HK$36 billion, will boost the economy by 0.7 percentage points. Apart from stimulating the local consumption market, the scheme will also encourage smaller merchants, and consumers, to adopt e-payment channels. Mr. Lam continued, “With the registration starting on 4 July, we believe the scheme will give the market quite a positive boost for the rest of 2021. Together with the potential release of the cross-China border restrictions in the near future, we remain cautiously optimistic about the gradual recovery of the Hong Kong retail market.”

Notes: All sq ft measurements refer to Net Floor Area (NFA). Availability includes confirmed leasing stock that is currently vacant or becoming vacant over the next 12 months.

Please click HERE to download the event photos and presentation deck.

Photo Caption

Photo1: (From Left to Right) Mr. John Siu, Cushman & Wakefield’s Managing Director, Hong Kong and Mr. Kevin Lam, Cushman & Wakefield’s Executive Director, Head of Retail Services, Hong Kong

Photo 2: (From Left to Right) Mr. Kevin Lam, Cushman & Wakefield’s Executive Director, Head of Retail Services, Hong Kong and Mr. John Siu, Cushman & Wakefield’s Managing Director, Hong Kong

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).

#Cushman&Wakefield

Laos Walks Back Kappa Variant Report

Covid-19 update

Laos has said that the Kappa variant of Covid-19 had been erroneously confirmed during sequencing on a recent imported case.

Laos Garment Industry Requires Over 10,000 Workers

A garment factory in Laos

The garment industry in Laos requires over 10,000 workers, with both skilled and inexperienced laborers needed, according to the Lao Garments Association.

Champasack Province Locks Down After New Community Spread of Covid-19

Champasack locks down following new community spread of Covid-19
Champasack locks down following new community spread of Covid-19.

Authorities have locked down Champasack Province following one new community transmitted case of Covid-19, as well a high number of imported cases.