The Vientiane Capital Department of Industry and Commerce has issued a notice ordering the closure of a number of retail businesses including supermarkets and minimarts.
Vientiane Orders Supermarkets, Retailers Shut During Lockdown
Hong Leong Bank: Seeking to Collaborate with Trailblazing Startups to Build a Sustainable Future Together
Hong Leong Bank is looking to partner with startups to create ‘out-of-the-box’ solutions contributing to long term positive impact for our Community, Environment, and the Financial Services Industry
KUALA LUMPUR, MALAYSIA – Media OutReach – 20 September 2021 – Hong Leong Bank’s (“HLB” or “the Bank”) Fintech and tech startups mentorship platform, HLB Launchpad is back in its fourth edition. The Bank is calling for Fintech and tech startups to take on the challenge of co-creating and developing breakthrough ‘out-of-the box’ solutions to reimagine a more sustainable banking and financial services industry.
The 4th HLB Launchpad edition seeks to partner with startups to create ‘out-of-the-box’ solutions to build a sustainable future together.
Themed ‘Let’s Build a Sustainable Future Together’, it aligns with the Bank’s priorities in stepping up its sustainability best practices and integration of Environmental, Social and Governance (“ESG”) elements into every facet of
The Bank has identified over 15 problem statements this year extending over five Sustainability themes, namely Digital at the Core, Workforce Readiness, Socially Responsible Business, Environmental Management and Community Investment. The problem statements range from finding solutions to boost financial inclusivity for low-income earners, to tracking greenhouse gas emissions to create a long term positive environmental impact. Startups are welcome to address one or more of the problem statements.
Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB said, “At Hong Leong Bank, as we continue on our journey to build a highly digital and innovative ASEAN financial services company, we are always on the lookout for innovative ideas that will help us bring this vision to life. Aligned with our core value of being here for the long term, we are placing more emphasis on our sustainability efforts to ensure we
HLB Launchpad 2021 will be selecting three winners, in which the winner will be awarded with a cash prize of RM50,000 and the two runners-up will receive RM25,000 each. The winners will also be entitled to mentorship sessions with HLB’s C-suite, Business Heads and Partners, as well as a 6-month pilot project with the Bank.
The Bank is also currently collaborating and mentoring the HLB Launchpad 2020 winners – Food Market Hub, Pay:Watch, and ERTH. With Food Market Hub, a F&B ecosystem provider which has streamlined the entire value chain of farm-to-restaurant, HLB is working with them on a pilot project to help businesses best leverage the digital banking ecosystem to run their business on-the-go, while with Pay:Watch, the Bank is currently piloting an initiative to provide gig workers instant access to earned wages before their pay day. As for ERTH which is an e-waste recycling startup, they are helping the Bank manage and recycle its electronic waste (“e-waste”).
Shailesh Grover, Chief Digital and Innovation Officer said, “Embracing
“A big part of
HLB Launchpad 2021 is a collaborative
Additionally, startups stand to gain immense benefits by being part of the HLB Launchpad 2021
● Hong Leong Group’s regional businesses across financial services, manufacturing, property development, hospitality & leisure and healthcare in
● Jumpstart@65, a state-of-the-art community hub with facilities such as event space, co-working space and usability labs amongst others.
● A suite of banking facilities such as a business current account and micro-financing as well as digital business solutions offerings including an all-in-one POS terminal, cloud-based HR, Payroll, Accounting and digital advertising services.
based on this page: https://www.hlb.com.my/en/business-banking/group-sme-banking/digital-business-solutions.html
To register for or find out more on HLB Launchpad 2021, please visit https://www.hlb.com.my/hlblaunchpad . Applications are open until 1 October 2021.
About Hong Leong Bank Berhad
Please visit 
www.hlb.com.my
Vang Vieng Expressway Cuts Off Vientiane Capital Section
The Vang Vieng Expressway has issued a statement that certain sections of the expressway are now closed, with entrance to the capital prohibited.
Garment Factory Outbreak Spreads to Xiengkhouang Province
Laos has confirmed 214 cases of Covid-19 today, with community spread continuing in Vientiane Capital.
Signitory – A Glimpse Into the Future Through a Blockchain-Based eSignature Solution
KUALA LUMPUR, MALAYSIA – Media OutReach – 20 September 2021 – With the growth of e-commerce, more and more individuals are becoming accustomed to signing contracts with strangers over the Internet. As a result of the epidemic’s impact, businesses have begun to perform intelligent business operations more regularly via online meetings or papers. Electronic signatures, as a key component of online contracts, play a vital role in safeguarding the rights and interests of all contract parties.
“Signitory is the next generation of electronic signature software. It is a hybrid of eKYC and Blockchain technologies. Blockchain technology has the potential to improve oversight and security. It is part of a new paradigm, and it shows us an entirely different future!” Carlo concurred.
That future is evident when one considers blockchain as the foundation of the eSignature solution.
The blockchain’s non-tamperable characteristic is important in electronic signatures.
“By putting your signed document in the blockchain, you can now check the validity of the signed papers. If the hash value does not match, the blockchain has determined that your papers were altered and falsified on purpose. This is especially useful for important contracts since it adds an extra degree of protection to your signed paperwork.” Carlo added.
Certificate Authorities (CAs), who provide digital certificates to verified individuals, play a very significant role in signing electronic documents. In the context of the coronavirus illness (COVID-19) pandemic, for example, the concept of COVID-19 Certificate Digital Document (CCDD) is offered as a method through which a person’s COVID-19 related health-data may be digitally documented using electronic certificates. (Source from: https://www.who.int)
*CA is the current digital transformation trust mechanism. When the document is created as a PDF file, however, many PDF readers and online verification services include flaws. Hackers can exploit these flaws to attack signed PDF documents to make illegal changes without rendering the digital signature invalid. These attacks include Universal Signature Forgery (USF), Incremental Preservation Attack (ISA), and Signature Wrapping Attack (SWA). *Source from: https://securityaffairs.co/
“In this case, the non-tamperable feature of the additional blockchain will magnify and ensure that the certificate will not be tampered with.” Carlo added.
Technology brings convenience. The Signitory’s Electronic Signature Know Your Customer (eKYC) function can verify and ensure the identity of both signers and achieve the function of preventing counterfeiting signatures. This function is completely free, and users only need to make sure they complete the identity verification when creating an account.
The end product advances Signitory’s eSignature solution potential. This re-conceptualization corrects traditional eSignature solution limitations. Signitory continues to improve and build a safer platform and open up new ways. Each phase provides complete peace of mind from the start of the eSigning process to where the document is stored.
Start Your Free Electronic Signature Today! Signitory is available on Google Playstore (or direct download Apk) and Apple App Store.
About Signitory:
https://www.signitory.com/about
VP Bank in Asia makes two newly-created key appointments to its Asia Management Committee
SINGAPORE – Media OutReach – 20 September 2021 – VP Bank has today announced the appointments of Alexander Tsikouras as Chief Financial Officer & Chief Operating Officer Asia and Will Wang as Head of Client Solutions & Strategic Partnerships Asia in two newly-created roles which form part of the Asia Management Committee (Asia Manco) as of 24 September 2021. Aligning with VP Bank’s growth strategy in Asia, these appointments follow the recent joining of two other senior executives, Pamela Hsu Phua as CEO Asia and Heline Lam as Chief of Staff Asia.
Through the expansion of its leadership team in the region, VP Bank continues to build upon its proven business model focusing on intermediaries and private banking, with the aim to establish VP Bank as an international Open Wealth Services pioneer.
As Chief Financial Officer & Chief Operating Officer Asia based in Singapore, Alexander Tsikouras will be responsible for driving the bank’s strategic financial and operational efficiency, as well as transformation in Asia. He will report regionally to Pamela Hsu Phua (CEO Asia), and functionally to Roger Barmettler (Group CFO) and Urs Monstein (Group COO). Alexander has more than 20 years of experience with deep expertise in business development, change and risk management, finance and strategy. Joining from Pictet where he was Chief of Staff Asia, he holds a PhD in Finance from the University of Piraeus in Greece and a Master’s in International Accounting & Finance from the London School of Economics.
As Head of Client Solutions & Strategic Partnerships Asia based in Hong Kong, Will Wang will play an active role with VP Bank’s clients and strategic partners, and in identifying and expanding business opportunities in this region. He will report functionally to both Pamela Hsu Phua (CEO Asia) and Thomas von Hohenhau (Group Head Client Solutions). Prior to VP Bank, Will was Managing Director and Head of Investment Committee at a Hong Kong SFC regulated asset manager. He has over 20 years of experience in private banking from front office, investments to management oversight in international locations spanning across Hong Kong, Singapore and Switzerland. Currently also as Head of CAIA Association Hong Kong Chapter, Will is CFA, CAIA and CMT charterholder, with MBA from University of St. Gallen in Switzerland and CEMS-Master.
Pamela Hsu Phua, CEO Asia of VP Bank, is delighted to welcome the new members to Asia Manco: “I am excited for what’s to come with both Will and Alexander joining our team as we continue to work together to expand our presence in Asia. The region remains abound with plenty of opportunities. With their targeted wealth management expertise, they will contribute to the successful execution of Strategy 2026 in Asia.”
About VP Bank Group
VP Bank established in 1956, is a leading bank in Liechtenstein with an international presence in Switzerland, Luxembourg, Singapore, Hong Kong and the British Virgin Islands. VP Bank Group offers comprehensive wealth management solutions for intermediaries and private individuals. VP Bank is listed on the Swiss stock exchange. It has an “A” rating from Standard & Poor’s as a well-capitalised and secure bank. It provides independent advice and access to leading investment houses through its open architecture. A standout feature of VP Bank is its strength in working with financial intermediaries and wealth managers to offer best in class solutions for clients.
About VP Bank Ltd Singapore Branch
VP Bank Ltd Singapore Branch is a boutique private bank with a client-centric business philosophy. With a presence in Singapore since 2008, it is the Asian branch of the Liechtenstein-based VP Bank Group.
VP Bank Ltd Singapore Branch provides specialised wealth management solutions and family office services for high-net-worth clients and professional asset managers and is dedicated to the protection and growth of clients’ wealth. The bank offers a holistic suite of services in wealth management. Apart from private wealth management, VP Bank Ltd Singapore Branch provides comprehensive services for asset managers and other financial intermediaries. The service offering comprises a trading platform, banking services – including e-banking and mobile banking – and operational support. Partnership arrangements with professionals include tailor-made investment advisory, discretionary management solutions, and custodian services.
VP Bank was awarded Best External Asset Manager Service Provider and Best Private Banking Regional Partnership at Greater China WealthBriefingAsia Awards for Excellence 2020 and Best Asia EAM Service Desk at Citywire Asia EAM Desk Awards 2020. In 2021, VP Bank was named Best Private Bank – Intermediary Services by Asian Private Banker and ‘Best Boutique Private Bank’ at the 9th annual WealthBriefingAsia Awards 2021.
#VPBank
Delta Plus Covid-19 Variant Spreading in Vientiane Capital
The Lao Ministry of Health has confirmed that the Covid-19 variant spreading through Vientiane Capital is the Delta Plus variant.
Brands Eyeing Chinese Expats in Singapore to Fuel Sales Post-COVID-19
As retail sales steadily recover, Chinese Expats have renewed their strong shopping sentiment with 63% spending more post COVID-19: EternityX survey reveals.
SINGAPORE – Media OutReach – 20 September 2021 – With the government gradually easing border restrictions under COVID-19, businesses have been looking at new ways to capture opportunities in the local market over the course of the pandemic in order to generate positive momentum. Chinese expats in Singapore form a significant demographic that brands have been eyeing to fuel sales growth in the year of pandemic recovery. To provide perspective on this growing expatriate community that is shaping the country’s consumer market, leading AI marketing platform EternityX today announced a survey that looks at the spending and investment habits of Chinese expats in Singapore to better understand their potential to contribute to the country’s economy.
Mass Affluent Chinese Expats Wielding Strong Purchasing Power Potential
The Singapore economy achieved 14.7% year-on-year growth in the second quarter this year[1] while the country was undergoing Phase 1 of reopening. “This is encouraging, despite the borders remaining closed,” said Richard Andrew, Southeast Asia and Australia Managing Director of EternityX. “During the lockdown, we’ve seen brands shifting their focus to new consumer demographics within the territory, and Chinese expats are believed to be an important segment to aid consumption growth, now and into the future.”
The Chinese expat community in Singapore has contributed to the country’s economy over the years. According to EternityX data, 71% of the respondents hold Bachelor’s degrees or above. 32% of the surveyed are considered ‘affluent’ as they make over SGD 160,000 annual household income – at least 45% higher than the median Singapore household income[2].
The survey also found that most Chinese expats have been easing back into their pre-pandemic life; 63% of respondents said that they have been spending more this year than they had in 2020.
Affluent Chinese Expats’ Unique Shopping and Investing habits, and Their Potential for Businesses
● Shopping:
○ 52% of the affluent respondents noted that they have spent an average of more than SGD 1,000 per month on luxury or beauty goods, 19% of which even spent an average of more than SGD 5,000 – a sum typically equivalent to buying a small shoulder bag from a luxury fashion house or a diamond ring from a high-end jeweller.
○ Regardless of the complicated cross-border logistics, more affluent Chinese expats prefer shopping on Chinese online marketplaces (including JD.com, Tmall, Taobao, and Pinduoduo) rather than local and regional ones (including Shopee and Lazada).
● Investment:
○ Over three-quarters of the affluent agreed that digital resources, including search engines (80%) and social media (73%), play important roles when they make investment decisions.
○ 33% of the affluent Chinese expats plan on saving and investing 16% to 30% of their annual income, with stocks and bonds, insurance, and real estates being the top 3 investment options, indicating great untapped opportunities for financial institutions.
● Media consumption:
○ While over 71% of the respondents have lived in Singapore for over 10 years, Chinese expats still heavily utilise Chinese media platforms, with iQiyi, Douyin and Sina being the most influential platforms when it comes to their spending decisions; while WeChat, Toutiao and Sina News are their primary Chinese media channels for breaking financial news.
○ Interestingly, although many of the respondents speak English at home, 77% still tend to purchase brands which advertise in Chinese on a Chinese media channel. More EternityX data reveals that campaigns running on Chinese digital platforms in simplified Chinese drive higher engagement and generate more leads with Chinese expats living overseas. This shows the power of communicating in a customer’s native language and the diversity of the platforms that can provide enhanced interaction with Chinese expats.
On the note of Chinese expats’ spending habits, Richard Andrew commented, “Data has told us that it can take up to 30 steps for a customer to make their purchase decision; the more expensive the products, the more steps the customers need. This survey reveals the unique ways in which Chinese expats spend their disposable income and consume media, which sheds light on how brands and businesses should tailor a personalised approach that best connects with their target customers. Demographics matter and therefore brands should embrace technology and innovative digital solutions that precisely target one of Singapore’s wealthiest segments [Chinese expats] in order to maximise the effectiveness of advertising campaigns.”
EternityX shared key tips for brands to unlock business potential within the Chinese expat market:
● Make sure you put yourselves in their shoes: A one-size-fits-all approach doesn’t work with Chinese Expats, especially considering their visual mindset. Focus your campaign on storytelling with high-quality and eye-catching visuals plus creative, attractive and useful content. Include a relevant call-to-action and landing page. Most importantly, all touchpoints in the campaign have to be in Simplified Chinese.
● The more touchpoints, the merrier: Don’t limit your media plan to just the most popular apps. EternityX data shows that Chinese Expats in Singapore access well over 50 different types of apps and media on average, including video, social, news, lifestyle and gaming. Marketers should include a variety of channels in your media plan, on top of the most high-profile Chinese publications and platforms.
● Utilise the latest target segmentation tools: Leveraging more layers of data, such as spending power and keywords, and the latest AI and ML technology can help brands precisely identify and reach the target audience.
● Leverage opportunities for targeted and personalised offers on Chinese media platforms: Consumers today value personalisation, and brands who use data-driven campaigns to tailor content to consumers are seeing results. With careful execution, exclusive deals or campaigns for Chinese expats living in Hong Kong will attract this specific consumer group. Targeted and personalised offerings on Chinese media platforms can further drive higher engagement rates with Chinese expats.
About EternityX
Connecting regional and international brands with the Chinese market, EternityX is an award-winning AI-empowered open-to-connect marketing technology platform. With advanced multi-dimensional audience profiling to comprehend audience needs throughout the consumer journey, we can precisely reach your consumer through premium sites & apps programmatically. Our international team offers one-stop customized solutions everywhere, helping marketers overcome all obstacles and build a business intelligence strategy that increases brand-consumer lifetime value and maximizes campaign effectiveness.
https://eternityx.com/#EternityX
