28.3 C
Vientiane
Wednesday, July 9, 2025
spot_img
Home Blog Page 453

2 out of 3 Singapore Residents Aspire to Achieve Financial Independence Between 40 to 60

  • 1 in 2 Singapore residents believe they need over S$1 million to achieve financial independence.
  • Compared to other age groups, Singapore residents under 30 are most confident in achieving their early financial independence goals.

SINGAPORE, April 16, 2025 /PRNewswire/ — CIMB Singapore released a report that revealed Singapore residents’ perceptions and behaviours towards financial planning, with 63% of them aspiring to achieve financial independence between 40 to 60 years old. On top of that, 52% of the respondents believe that they need more than S$1 million to achieve financial independence – defined as being free from financial worries.

Despite the large sum, 72% of Singapore residents believe that financial independence is a realistic goal and 43% of them are confident of managing their finances to achieve financial independence. However, the top three barriers to financial independence cited are the high cost of living, family responsibilities, followed by low income.

On the other hand, 39% of respondents responded that they are “often” or “always” feeling anxious about their financial future. Specifically, those aged 40-50 have higher financial anxiety, with 47% of them claiming that they feel anxious in high frequency (“often” and “always”). Similar sentiments are echoed in other urban cities with strong economies such as Hong Kong, where 28% of their workers reported that their financial situation is causing them higher levels of stress and anxiety[1].

Out of 71% of respondents with financial plans, only 48% have started planning for their retirement, citing reasons such as prioritising other financial obligations, reliance on CPF, and lack of knowledge as challenges impeding their retirement planning.

The “CIMB Singapore: Attitudes and Beliefs towards Financial Independence Report 2025“, done in collaboration with the Nanyang Centre for Marketing and Technology[2], captured insights from over 500 Singapore residents aged 26-60 on their perspectives towards financial independence and retirement planning last December.

“We are privileged to collaborate with the Nanyang Centre for Marketing and Technology on this study, which revealed key insights into Singapore residents’ attitudes and beliefs towards financial independence. Notably, younger Singapore residents show the most confidence in achieving early financial independence compared to other age groups. We recognise that the journey to financial independence is deeply personal and are dedicated to supporting all generations to help them navigate their unique financial journeys,” said Raymond Tan, Head of Wealth Management and Preferred Banking at CIMB Singapore.

“We are delighted to partner with CIMB Singapore on this important research initiative examining financial independence. This collaboration highlights the strength of academia-industry partnerships in translating rigorous academic research into actionable insights for the business world. We believe this initiative will serve as a strong foundation for future collaborations, contributing to the development of a dynamic and mutually beneficial ecosystem,” said Professor Sharon Ng, Deputy Dean at Nanyang Business School and Director at the Nanyang Centre for Marketing and Technology.

Navigating Generational Shifts in Financial Confidence

A growing number of younger Singapore residents are striving for early financial independence and demonstrating strong confidence in achieving their goals. Of the respondents under the age of 30, 60% aim to achieve financial independence before the age of 40, and 54% expressed confidence in their financial management skills. However, only 39% of respondents aged 40 to 50, and 43% of those aged 50 to 60, report feeling confident in managing their finances. Respondents under 30 are also most willing to seek financial planning advice (54%), compared to the 40 to 50 (35%), and 50 to 60 (28%) age groups.

This signals a clear generational divide in financial confidence and preference for financial advice, underscoring the need for a tailored approach to financial planning and requirement for financial service providers to understand the unique challenges faced by customers across different life stages.

Closing the Gap: Equipping Public to Make Informed Decisions about Their Financial Future

In the pursuit of financial independence, Singapore residents’ top three preferred tools for financial growth are savings and fixed deposits, stocks and insurance. Yet, 39% of respondents shared that they are unsure about insurance’s effectiveness as an investment tool, which suggests that they might not be maximizing the use of insurance for financial growth.

“As a leading foreign bank in Singapore for bancassurance with an ‘open architecture’ proposition, CIMB Singapore partners with multiple insurance providers to provide customers the best value. We are committed to uniting major insurers to educate and empower the public to take control of their path to financial independence. Building on the success of our inaugural event, this year’s InsureXpo by CIMB had an exciting line-up of industry leaders and experts across private and public sectors, as well as personal finance content creators to address pressing topics on insurance, financial planning and well-being. We want to provide a comprehensive and convenient platform for the public to equip themselves with knowledge to make informed decisions about their financial future, all under one roof,” said Merlyn Tsai, Head of Consumer Banking and Digital at CIMB Singapore.

About CIMB

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider by assets, with a market capitalisation of approximately RM88.0 billion as at 31 December 2024 and is listed on Bursa Malaysia. The Group is present in seven ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines). Singapore is one of its most important markets with approximately 1,000 employees serving clients across consumer, commercial, wholesale and transaction banking products and services.  

CIMB is committed to providing customers with an extensive range of sustainable finance solutions as guided by the Group’s Green, Social, Sustainable Impact Products and Services (“GSSIPS”) framework, an internal taxonomy set by the Group to deliver impactful sustainable finance. The Group tripled its sustainable finance target to RM100 billion by 2024, a substantial increase from its RM30 billion target previously announced in 2021. CIMB is on track to achieving its RM100 billion target, recording over RM80 billion in sustainable finance, as of December 2023. 

[1] Info referenced from the 2024 Global Benefits Attitudes Survey conducted by WTW, a professional services firm.

[2] The Nanyang Centre for Marketing and Technology is a research centre under the Nanyang Business School.

 

From the people, to the people: Public engagement in China

BEIJING, April 16, 2025 /PRNewswire/ — This is a report from China.org.cn:


From the people, to the people: Public engagement in China

In this video, we examine evolving strategies for public engagement in China, and how it listens to and responds to the people’s needs through new platforms and participatory tools.

From the people, to the people: Public engagement in China

http://www.china.org.cn/china/2025-04/16/content_117827582.htm

The Grand Opening of the 3rd Hong Kong InnoEX and the Electronics Fair (Spring Edition)

HONG KONG, April 16, 2025 /PRNewswire/ — A report from iqingdao.

The 3rd Hongkong InnoEX kicked off on April 13 with the theme of “Innovation, Smart Move, and Take off”. It is co-hosted by Innovation, Technology and Industry Bureau of the Government of Hong Kong Special Administrative Region and Hong Kong Trade Development Council. Concurrently, the 21st Hong Kong Electronics Fair (Spring Edition) made its debut from April 13th to 16th at Hong Kong Convention and Exhibition Centre.

Photo
Photo

The InnoEX brings together exhibitors from Hong Kong, Chinese mainland, Macau, other countries and regions of Asia, the ASEAN members, the Middle East, Europe, the Americas, Africa and Oceania. It showcases smart solutions in the fields of low-altitude economy, smart mobility, artificial intelligence, robotics and cyber security. With the theme of ” The World-Class Electronics Event Inspires Unlimited Business Opportunities “, the concurrent Spring Electronics Fair highlights the latest advancement in the domains of smart home, health technology and wearable devices.

As the core of BIT Week, the InnoEX and the Electronics Fair work together with the 1st World Internet Conference Asia Pacific Summit during April 14 and 15. They jointly discuss the latest trends in innovative areas, such as artificial intelligence, digital finance, digital government and smart life.

All roles, all levels, all markets: General Assembly launches first-of-its-kind one-stop AI Academy to help companies close their AI skills gap

  • This is the first in Singapore to offer flexible AI courses geared towards all organisational roles – from business and operational teams to decision-makers – all in one place
  • Unlike traditional offerings, where companies must purchase and manage separate courses for each department or level, General Assembly’s AI Academy lets companies assemble the modules, depth and context that fit their unique needs
  • The modular, fully customisable courses are hands-on and expert-led, with practical use cases that can be applied in day-to-day work

SINGAPORE – Media OutReach Newswire – 16 April 2025 – General Assembly, a leading source for tech staffing, education and mid-career transitions into tech, today announces the launch of its first-of-its kind, one-stop AI Academy – a comprehensive and customisable training programme that will enable companies of all sizes to upskill their workforce in AI across various job roles, levels and markets in both tech and non-tech areas.

General Assembly's AI Academy aims to help companies close their AI skills gap
General Assembly’s AI Academy aims to help companies close their AI skills gap

The AI Academy’s launch comes as Singapore prioritises AI adoption and upskilling among enterprises, having launched a series of initiatives to help businesses leverage AI services and enable workforce transformation during Budget 2025. This mirrors global trends, as most tech hiring managers (89%) report their companies plan to increase AI investments in the coming year, according to research conducted by General Assembly. However, organisations continue to face a critical shortage of qualified talent, as businesses continue to catch up to the changing AI landscape. In Singapore, only 4.2% of small-medium enterprises have adopted AI, according to a 2023 report by the Infocomm Media Development Authority.

“Companies are rushing to adopt AI but failing to bring their workforces along. The growing disconnect between technology investments and human capabilities is a significant barrier to achieving ROI from AI. Businesses need to start building AI skills across the workforce, now,” said Daniele Grassi, Chief Executive Officer, General Assembly.

General Assembly’s AI Academy offers flexible, modular training pathways targeting specific business functions, including HR, marketing, sales and product management. The program delivers expert-led, practical and hands-on instruction that focuses on immediate applications of AI tools to increase productivity and drive tangible business outcomes. These customisable courses, ranging from half a day to three days, can be tailored towards a spectrum of roles in an organisation. Courses are divided per role, namely decision-makers; tech and data teams; and business and operational teams.

AI for Decision-Makers (Non-technical track)

  • For Board Directors, Executives and Team Leaders to learn how to use AI insights for strategic decision making, operational efficiency, and ethical and responsible AI implementation

AI for Tech & Data Teams (Technical track)

  • For Data Scientists, Systems Engineers, Software Engineers, DevOps Engineers and Cloud Engineers to pick up hands-on, application-based skills to implement and maintain AI tools within the organisation

AI for Business & Operational Teams (Non-technical track)

  • For HR Professionals, Marketers, Product Managers, Sales/Legal/Finance/UX Professionals to improve sales reach and operational efficiency by adopting AI and undergoing hands-on practice for specific roles

Both non-technical and technical tracks offer three distinct levels of AI training – “AI-Enabled”, “AI-Augmented,” and “AI-Superpowered” – each increasing in depth and specialisation to enable employees to scale their utilisation and deployment of AI at work. All modules are led by experts with at least ten years of industry experience, and can be fully customised with add-ons such as post-training guidance, delivery in a specific language, AI-readiness assessments, among others.

“At this juncture, AI has evolved from being ‘just another tech skill’ to be learnt to being integrated into many of the everyday tools we use. AI will eventually be built and embedded into other tech skills that we learn from here on out, and we see the ever-growing importance of helping workforces be equipped for this evolution in their existing skillsets. As Singapore looks towards harnessing AI, continuously reskilling and upskilling the local talent pool is key to building diverse and future-proof talent pipelines,” said Sima Saadat, Singapore Country Manager, General Assembly.

To learn more about the AI Academy and upskilling your workforce, visit ga.co/aiacademy.Hashtag: #generalassembly



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

About General Assembly

General Assembly is a source for training, staffing and career transitions in the tech industry. Their short-term courses and immersive bootcamps on coding, software engineering, UX design and data science, suitable for students with no tech background, are taught by instructors from leading tech companies to ensure that students are job-ready upon graduation. GA partners the Infocomm Media Development Authority (IMDA) under their (TIPP) and SkillsFuture, providing subsidised fees for Singaporeans and PRs. Fortune 500 companies, startups, and businesses also engage GA to identify tech candidates and upskill their existing employees.

Shanghai Electric Reports Continued Growth in 2024 as Its Clean Energy and High-End Equipment Push Expands

With Revenue, Gross Margin, Order Volume, and Cash Flow All Achieving Simultaneous Growth in 2024

SHANGHAI, April 16, 2025 /PRNewswire/ — Shanghai Electric (SEHK:2727, SSE:601727) reported revenue of RMB 116.19 billion. The Company cited its core strengths in nuclear power, wind power, energy storage, and hydrogen energy as key drivers, amid rising global demand for clean energy and high-end equipment manufacturing. As of December 31, 2024, total assets stood at 302.51 billion yuan.

 

Shanghai Electric Reports Continued Growth in 2024 as Its Clean Energy and High-End Equipment Push Expands.

“Shanghai Electric will be guided by our dual carbon goals, focusing on integrated solutions for wind, solar and hydrogen storage while continuing to strengthen our industrial advantages,” said Zhu Zhaokai, President of Shanghai Electric. “We believe that through technological innovation and a global presence, Shanghai Electric can contribute more Chinese wisdom to the global energy transition.”

The energy equipment sector continued to see strong results, with new orders of 89.1 billion yuan in 2024, an 18.45% year-on-year increase

Shanghai Electric unveiled key innovations across emerging sectors, driving growth in wind power, energy storage, hydrogen energy, and green fuels.

  • In wind power, the Company launched its self-developed 18MW-25MW Poseidon platform model, along with Asia’s first operation and maintenance mother ship for deep-sea projects. The model features distributed energy storage, grid-friendly wind turbine tech, and adaptability for offshore scenarios like island microgrids, offshore hydrogen production, flexible DC transmission, and floating turbines.
  • In energy storage, Shanghai Electric introduced a 250kW-class vanadium-iron liquid flow battery, reducing electrolyte costs while maintaining energy density. New inverter systems, including a 2×2.6MW model and a 215kW string inverter, improve power system flexibility. In hydrogen energy, the Company’s Z-series alkaline electrolyzer, TÜV-certified, meets international performance standards, improving efficiency and reducing costs. It also tested its 300Nm³/h PEM electrolyzer, boosting efficiency and stability. Shanghai Electric became China’s first green methanol producer to earn full-process ISCC EU certification, converting agricultural biomass into methanol using advanced gasification and wind-to-hydrogen technologies.

High-end industrial manufacturing equipment made a breakthrough in 2024, with new orders of 42.293 billion yuan

  • Shanghai Electric has accelerated technological innovation, driving the sustainable development of its aerospace business. In 2024, global industrial parts saw steady growth, spurred by innovation and market demand. Domestic substitution of core parts such as aerospace blades, bearings, and precision gears has rapidly progressed. As a global leader in aviation equipment, the Company’s technology supports aircraft engine assembly, fuselage riveting, and composite component production.
  • In automation, Shanghai Electric offers solutions with large-scale precision grinders and CNC machine tools, covering over 200 varieties and 600 specifications. Shanghai Electric’s products are used in major civil airliner production lines. Additionally, the 100% acquisition of Ningsheng Industrial advances its robot industry and digital factory capabilities.
  • The integrated services grew steadily, with new orders of 22.214 billion yuan in 2024, a year-on-year increase of 13.02%. In energy engineering services, Shanghai Electric expanded beyond thermal power into new energy and distributed energy markets. The Company has shifted from regional to global markets, enhancing international outlets and accelerating technical developments to meet strong demand. Shanghai Electric has also built industrial service capabilities, including supply chain collaboration, customized solutions, and full life-cycle management, promoting deeper integration of manufacturing and services.

In addition, in 2024, Shanghai Electric reduced management and financial expenses while advancing ESG goals, launching a carbon management platform that cut 23,000 tons of carbon dioxide and ten of its factories were recognized as Shanghai Smart Factories. The Company also expanded into new energy vehicle parts and industrial software. Its R&D expenses in 2024 totalled 5.67 billion yuan, a 5.5% increase, focusing on breakthroughs in gas turbines and grid-type wind turbines. By the end of 2024, the Company held 6,823 valid patents.

For more information about Shanghai Electrics, please visit: https://www.shanghai-electric.com/group_en/.

“Liquor Shop by the Cemetery”: Nong’s Bold Return as Voice for the Voiceless

“Liquor Shop by the Cemetery”: Nong’s Bold Return as Voice for the Voiceles
Bounthanong "Nong" Xomxayphol, poses for a photo with his latest book "Liquor Shop by the Cemetery"

An author holds the power to drive societal reform through fictional characters, raising awareness for those who cannot speak for themselves, becoming a voice for the voiceless, and advocating for transformation. That is what Lao writer Bounthanong “Nong” Xomxayphol, 72, believes.

Media Tour Explores Guizhou’s Mega Projects, Highlighting Engineering and National Pride

HONG KONG, April 16, 2025 /PRNewswire/ — From April 13 to 14, 2025, a group of 19 journalists participated in the “Colorful Park Province, Backyard of the Greater Bay Area – Guangdong, Hong Kong and Macao Media Tour to Guizhou,” co-organized by Hong Kong’s TVB, as they toured Pingtang County. On April 13, the group visited Sky Bridge, a feat of world-class engineering. The next day, they ventured into a remote sinkhole to experience the technological wonder of the Five-hundred-meter Aperture Spherical Telescope (FAST), known as “China’s Sky Eye,” culminating in an inspiring journey highlighted by these two national landmarks.

From the misty observation deck of the Pingtang Bridge, group members gazed at the Sky Bridge, which resembles a dragon weaving through the clouds. With the tallest concrete bridge towers in the world—reaching the equivalent height of a 200-story building from deck to valley floor—the structure reflects both technical achievement and local design, echoing elements of traditional Bouyei stilt houses. As the group approached the Pingtang Bridge, one of the journalists said, “This structure is not only a pinnacle of modern engineering but also a testament to the harmony between landscape and humanity—a prime example of ‘infrastructure aesthetics’.”

The media group visits the Pingtang International Astronomy Experience Hall at the foot of the FAST
The media group visits the Pingtang International Astronomy Experience Hall at the foot of the FAST

At the FAST observation base, the group ascended to the observation deck overlooking the world’s largest single-aperture radio telescope. The spring sunlight streamed through the ring-shaped beams, casting a science fiction-like play of light and shadow on the vast reflective surface. “This ‘ear’ that captures signals from the universe allows us to hear the wisdom of China resonating from Guizhou’s mountains,” one participant noted. “Standing here, I feel as if I can touch the ambition of the Chinese people to reach for the stars.”

The media group poses for a photo at the Sky Bridge
The media group poses for a photo at the Sky Bridge

Reflecting on the visit, another tour member remarked, “Seeing these projects up close has an emotional power that can’t be conveyed through media coverage alone. It’s not just a visual spectacle—it inspires a sense of confidence and connection.” The group emphasized the broader significance of the experience, describing it as a convergence of landscape, technology, and cultural identity, and extended an open invitation to fellow travelers from Hong Kong and Macao to discover Guizhou’s place in China’s modern development story.

Wynn Opens “Gourmet Pavilion” – A New Asian Culinary Landmark at the End of April

Discover an exclusive selection of the colorful flavors of Asia
in a palatial European-style marketplace

MACAO, April 16, 2025 /PRNewswire/ — Wynn’s exciting new Asian culinary landmark – Gourmet Pavilion – is set to open on April 29, 2025, presenting an exciting selection of colorful and diverse flavors from all across Asia. One need not travel thousands of miles to enjoy the very best of Asian cuisine, as Wynn invites guests to explore all the tantalizing flavors of Asia right here in Macao. Discover Michelin-starred Chaoshan fish congee, the best laksa from Singapore’s celebrity-favorite noodle shop, perfectly prepared unagi from a revered century-old Japanese restaurant, and the most sought-after beef noodles from the almost impossible-to-book restaurant in Taiwan. At Gourmet Pavilion, each new discovery is bursting with surprises that are hard to find anywhere else in the world and is exclusive to Wynn.

Created by the world-renowned David Collins Studio, the design of Gourmet Pavilion is a combination of the elegance of European architecture with the world’s finest craftsmanship, setting the stage for an exceptional gastronomic experience that excites the senses. In celebration of the opening from April 29 to May 31, Wynn is pleased to present a “Savor the Flavors & Reap Rewards” special offer for guests to receive exclusive gifts and discounts while enjoying a variety of delicious dishes.

The “joy” of eating an array of “rich” and diverse cuisines 
Fu Le Ting, the Chinese name for “Gourmet Pavilion”, cleverly conveys the double-meaning of “rich in flavor” and “the joy of eating”.  The word Fu sounds like the same word for “rich” in Chinese, symbolizing that Gourmet Pavilion offers guests an abundance of rich and diverse cuisines. The word Le is the “joy” of sharing delicious dishes with friends and loved ones.  As an exciting new culinary landmark where Asian cuisine takes center stage, the new Gourmet Pavilion is brimming with the sights, sounds, aromas, and flavors of the region’s most vibrant cuisines.

Asia’s top culinary brands gather in Macao at Gourmet Pavilion
Gourmet Pavilion brings together unique flavors from all over Asia, including Leela, the whimsical Indian cuisine; Fat Boy Dumplings, signature dumplings from celebrity Chef Henry Zhang Zhicheng; Sushi Masa, Omakase for everyone; Unagi Yondaime Kikukawa, 100 years of renowned eel rice; Wumamii Beef Noodles, Taiwan’s most sought-after noodles; Ximen Jin FongBraised Pork Rice, world-renowned Taiwanese braised pork rice; 328 Katong Laksa, the celebrity-favorite noodle shop; Ann ChinPopiah, MICHELIN Recommended popiah from Singapore; Tuan YuanSingapore-style Pork Ribs Soup, Singapore’s national favorite Bak Kut Teh; Tian TianHainanese Chicken Rice, world-renowned chicken rice; Yong ZuoFish Congee, MICHELIN Recommended fish congee; Tao Xiao ChuaNortheast-style Skewers, popular Northeast-style skewers; Tanyu Grilled Fish, king of spicy grilled fish; Zhu Guang Yu Hot Pot, Chongqing’s hotpot phenomenon; Xita Lao Tai Tai Clay Stove Barbecue, Korean-style clay oven barbecue; Buns & BubblesBakery, delectable fresh-baked bites; and Little 8Cantonese Barbecue, sumptuous Cantonese roast. This is just the start. Even more brands will be coming to Gourmet Pavilion soon for Macao residents and visitors from around the world to discover. From high-end, award-winning dishes to down-to-earth street fare, Gourmet Pavilion gathers a myriad of colorful Asian cuisines under one roof.  

Globally inspired design showcases the finest European craftsmanship 
From the magnificent archways to the ornate flooring patterns, the Gourmet Pavilion interiors take inspiration from some of Europe’s most famous marketplaces. Reminiscent of grand European concert halls and theatrical spaces, Gourmet Pavilion takes diners on a journey through time to discover the vibrant and rich cultural heritage of Europe. It is a culmination of global collaborations, where the finest craftsmanship by artisans from around the world is on full display. The ornate mosaic arches, originally handcrafted by a renowned family of Italian artisanal makers, look remarkably like exquisite European oil paintings; the feature chandelier, which blooms above the food hall, is a masterpiece made by Bohemian glassmaking artisans; and “The Allsphyr”, a custom mirrored sculpture, was specially designed by an American artist to show things through a distorted lens and create a fun space for photo-taking. At Gourmet Pavilion, visitors will discover vivid colors, live kitchens, bustling activity and exquisite architectural craftsmanship in one exciting location.  More than just a dining destination, Gourmet Pavilion invites guests to linger longer and explore a myriad of dishes in vibrant, culturally rich surrounds.

Rewarding surprises for guests of Gourmet Pavilion
To celebrate the grand opening of this highly anticipated new Asian culinary landmark, Gourmet Pavilion will launch a special “Savor the Flavors & Reap Rewards” offer from April 29 to May 31, featuring innovative online and offline experiences and exclusive offers that are tailormade for a variety of consumers. Throughout the promotional period, all guests of Gourmet Pavilion can enjoy MOP 15 off on all purchases over MOP 80 for a limited time and Wynn Insider members are eligible to enjoy 5% off exclusive offers all year long. Diners who spend MOP 20 or more at Gourmet Pavilion and share their experiences on Xiaohongshu or Dianping will also receive a complimentary “dining voucher” worth MOP 20.

Starting April 29, Gourmet Pavilion invites diners from around the world to raise their chopsticks and gather together for an amazing Asian dining experience in Macao.

For more details on all of the exciting dining offers and promotions at Wynn and Gourmet Pavilion, please visit: https://www.wynnresortsmacau.com/en/wynn-palace/dining/gourmet-pavilion 

Gourmet Pavilion
Location: Right of the South Atrium at Wynn Palace, Avenida Da Nave Desportiva
Hours: Daily from 11:00 am to 11:00 pm

Gourmet Pavilion opens April 29, 2025
Gourmet Pavilion opens April 29, 2025

Wynn’s new culinary landmark – Gourmet Pavilion gathers the flavors of Asia in a palatial European-style marketplace
Wynn’s new culinary landmark – Gourmet Pavilion gathers the flavors of Asia in a palatial European-style marketplace