MetLife Expands Access to Genomics to Help Customers in Asia Prevent and Manage Cancer
 
Dec 04, 2018
Category:

HONG KONG--(BUSINESS WIRE)--MetLife continues to expand access to new and differentiated health services for customers in Asia to help them better understand and manage their risk of serious illnesses like cancer and determine the best prevention and treatment options.

AmMetLife Insurance Berhad (“AmMetLife”), the strategic partnership between MetLife and AMMB Holdings Berhad (AmBank Group), has launched a first-of-its-kind plan in Malaysia that includes coverage of genomic testing for customers diagnosed with cancer.

The “HCC BoostUp Rider,” attached to the HealthCare Choice Rider, gives customers coverage for a unique combination of medical benefits including genomic testing for cancer, out-patient dengue treatment, home nursing care, and pre-hospitalisation treatment.

“We’re pleased that AmMetLife, is the first insurer to offer a genomic tumour assessment benefit for cancer patients in Malaysia, so they have more information to undertake precision treatment. We already offer genomic testing and precision medicine benefits through some of our solutions in China and pharmacogenomics benefits as a value added service in Korea,” said Joyce Au-Yeung, Regional Head of Health for MetLife in Asia.

To ensure its services and solutions keep pace with medical trends and customers’ evolving needs, MetLife has teamed up with leading medical experts like Dr. Steven Tucker, who specialises in cancer, genomics and precision medicine.

“Genomics is a game changer when it comes to cancer treatment. No two people are the same and consumers everywhere are demanding more personalisation. Medical care is no different and genomics allows us to define the unique characteristics of a patient’s cancer and treat it with precision,” said Dr. Tucker, MetLife’s external medical consultant.

Across Asia, MetLife is steadily building out a combination of holistic insurance solutions and services to help customers better understand how to prevent, diagnose, treat and manage serious illness. In doing so, the company is focused on the five serious illnesses most relevant to Asians: cancer; cardiovascular disease; diabetes; dementia; and mental health.

“Our ambition is to help customers in Asia increase the number of healthy years they live by providing access to differentiated services to help prevent, diagnose, treat, and manage these conditions,” added Au-Yeung.

Note: Genomic testing is done through third parties. Genetic information collected will not be made available to MetLife and its subsidiaries/affiliates.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

About AmMetLife

AmMetLife is a strategic partnership between AMMB Holdings Berhad (AmBank Group) and MetLife International Holdings LLC (MetLife). AmMetLife offers a comprehensive range of life assurance and wealth protection solutions distributed through a combination of over 200 AmBank and AmMetLife branded branch offices, in addition to the strength of its authorised life insurance agents nationwide.

The strategic partnership combines the international expertise and financial strength of MetLife with the local strength and reach of AmBank Group to create a customer-centric and modern life assurance solutions provider in Malaysia.

Contacts
Yvette Marmur (Asia): +852 5716-8533 or ymarmur@metlife.com

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Regional Cooperation Can Help Asia Tackle Rising Cross-Border Challenges
 
Oct 23, 2018
Category:

SINGAPORE (23 October 2018) — Regional cooperation is increasingly necessary to tackle a rising number of cross-border challenges in Asia and the Pacific, including infrastructure gaps, trade connectivity, financial contagion, and climate and disaster-resilience, according to a new report from the Asian Development Bank (ADB).

The Asian Economic Integration Report 2018 (AEIR) says collective action to build regional public goods brings greater benefits than if countries work alone to address issues that also affect their neighbors. Regional public goods are goods, services, and systems of policies or rules that have shared benefits across countries, such as cross-border infrastructure, communicable disease control, and disaster risk management.

“Enhanced regional cooperation and coordination can help countries manage regional issues, particularly if they complement national and global actions,” said ADB Chief Economist Mr. Yasuyuki Sawada. “Multilateral development banks can help increase regional public goods by reducing knowledge and financing gaps as well as promoting regular policy dialogue for long-term cooperation among countries.”

The report points to several efforts in Asia to establish and strengthen regional public goods. For example, the 2014 pledge by 18 Asian leaders to eliminate malaria by 2030 has spurred countries to work together to achieve the goal to the benefit of the entire region. ADB’s Greater Mekong Subregion Health Security Project to help control communicable diseases in the Mekong region border areas is part of such efforts. Trade facilitation programs between countries in the Central Asia Regional Economic Cooperation region have boosted intraregional trade, supporting economic growth.

Asia’s intraregional trade—measured by value—rose to 57.8% of its total global trade in 2017 from 57.2% in 2016. The recovery in regional trade can be attributed to the expansion of global value chains after a slowdown since 2012. Intraregional foreign direct investment also increased slightly to $260.0 billion in 2017 from $254.7 billion in 2016.

Growing trade and investment linkages in Asia and the Pacific can be a buffer for the region against uncertainties in the global economy, the report says. However, it warns that uncertainty about trade policy could dampen the recovery in regional and global trade and damage consumer sentiment and business confidence in capital spending and investment.

The report notes that regional integration in Asia and the Pacific, as measured by ADB’s Asia-Pacific Regional Cooperation and Integration Index, or ARCII, increased modestly from 0.525 in 2015 to 0.530 in 2016, with a positive impact on economic growth and poverty reduction. The index incorporates six sub-indexes that measure trade and investment, money and finance, the regional value chain, infrastructure and connectivity, movement of people, and institutional and social integration.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.

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China ranks third in global online payments, U.S. tops the list
 
China Knowledge Online
Oct 18, 2018
Category:

Oct 18, 2018 (China Knowledge) - Data released by the World Payments Report 2018 showed that in terms of the total number of online payments in the statistical period, the U.S. topped the list with 148.5 billion, with Eurozone coming in second with 74.5 billion and China third with 48 billion online payments.

The report also showed that China's non-cash transactions accounted for the world's second-largest share of the growth. In addition, the report predicts that China's digital payment power, led by Alipay and WeChat, cannot be ignored. By 2021, China's total online payments will surpass the U.S. as the world's largest.

The study is based on data from the world bank, the bank for international settlements and the European central bank's statistical database. Non-cash transactions include checks, debit cards, credit card payments, credit transfers and direct debit transactions. The compound annual growth rate (CAGR) for all digital transactions will be about 13% between 2018 and 2021, rising to USD 876 billion from USD 598 billion in 2018.

China completed 48 billion non-cash transactions in 2016, up 25.8% YoY. China's rate of growth was second only to that of Russia, whose share of non-cash payments rose 36.5% YoY to 17.3 billion. Australia was third with 11.1% growth, at 10.6 billion.

 
 
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Avenir Technology marks first anniversary of powering Vietnam's Securities Depository
 
Oct 02, 2018
Category:

Avenir Technology marks first anniversary of powering Vietnam’s Securities Depository
Over 10 million contracts processed in first year

London, October 2nd, 2018 --( ASIA TODAY )-- Avenir Technology Limited, a global developer of post-trade Financial Market Infrastructure solutions, has marked the first anniversary of its cooperation with the Vietnam Securities Depository (VSD).

In August 2017, Avenir delivered a state of the art multi-language real-time clearing and settlement system for the VSD, which has over the last 12 months handled more than ten million distinct contracts. Volumes handled by the frontier Vietnamese market are now in line with those transacted by central counterparty clearing houses (CCPs) for established futures markets across Asia. Peak trading in July 2018 saw more than two million contracts handled during the month, ranking the VSD around 30th out of the 54 CCPs operating globally.

Martyn Bain, co-founder and Director of Avenir, commented:

“As a business, we know there’s a real demand in emerging markets to be able to tap into the expert knowledge required to structure an efficient derivative market. The team at Avenir worked extensively with the VSD to design a scalable, robust process, supported by the necessary technology. To have seen such flow in the first 12 months of operation clearly illustrates the demand for this market and outstripping all expectations.”

Mr. Duong Ngoc Tuan, Senior Managing Director of the Vietnam Securities Depository, commented:

“We understood the benefits of providing a comprehensive infrastructure, especially in terms of clearing and settlement systems for the Vietnam derivatives market, in terms of improving financial market structure and better developing capital formation in the country. The clearing and settlement system provided by Avenir helps us to better perform the role of CCP for the derivative market, with all settlement risks being prevented through the functionalities of the system in real-time manner, facilitating smooth and secure settlement processes over last 12 month.”

About Avenir
Avenir is a global developer of post-trade Financial Market Infrastructure solutions.

Supported by an agile and hugely experienced team, founders and senior staff alike all have significant levels of industry knowledge, having previously managed the set-up, establishment and operation of market infrastructures.

Avenir builds easy to use technology and advise market operators and market participants alike how best to manage risk, handle settlement and record securities market transactions beyond the point of trading.

Clients are located across the globe, including Malawi, Lebanon, Vietnam, Tajikistan, the UK and New Zealand. A number of other projects also in progress.

Media contact
Tony Cross
Monk Communications
+44 7973 284749
tony@monkcommunications.com

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Thirteen Pioneer Partners Come On Board for B-Secure
 
Oct 02, 2018
Category:

Artajasa and Infinitium unveil B-Secure domestic authentication platform to support secure and seamless e-commerce transactions in line with National Payment Gateway

Jakarta, 27 September 2018 --( ASIA TODAY )-- B-Secure, the domestic authentication system for online payments developed jointly by PT. Artajasa Pembayaran Elektronis (Artajasa) and PT. Infinitium Solutions (Infinitium) is unveiled today, alongside the announcement of 13 pioneer partners comprising issuing banks, merchants and Payment Gateway (PG) service providers who have committed to integrate B-Secure into their e-payment services. The event was witnessed by Bapak Pungky P. Wibowo, Executive Director of Electronification and National Payment Gateway, Bank Indonesia.

Of the 13 partners on board, eight are from the issuing banks under ATM Bersama network, namely Bank Negara Indonesia (BNI), Bank Syariah Bukopin, Bank Syariah Mandiri, Bank Tabungan Negara (BTN), Bank OCBC NISP, Bank DBS, Bank Bukopin and Bank Papua. Meanwhile, Mimopay, Rumah Zakat and Padiciti are the three pilot merchant partners whereas supporting PG partners are Doku and Faspay. These partners represent key stakeholders within the online payment ecosystem who have shown their vote of confidence in the B-Secure authentication platform.

B-Secure, an end-to-end domestic authentication platform for issuing banks and merchants to process e-commerce transactions, is a complementary infrastructure support to the e-payment ecosystem. It is compatible to be incorporated within the existing ATM Bersama framework with 94 bank and non-bank institutions, and potential of over 107 million cardholders in Indonesia.

“The announcement of B-Secure is in line with the National Payment Gateway (GPN) initiative in promoting easy and affordable cashless transactions for the public, while enhancing customer protection by securing data for each transaction. By providing an authentication platform for domestic transactions that is secure for consumers and banks, B-Secure supports the strengthening of an interconnected e-payments ecosystem that has interoperability and is able to carry out transactions including authorisation, clearing, and settlement. The B-Secure domestic authentication system is a commendable effort by PT. Artajasa Pembayaran Elektronis with our partner, Infinitium to facilitate the e-commerce boom in Indonesia,” said Pak Bayu Hanantasena, Chief Executive Officer of PT. Artajasa Pembayaran Elektronis.

“Authentication is a crucial component in the security aspect of payments to boost debit card transactions in the e-commerce arena. An authenticated payment platform creates confidence and trust to engage in payment services and online debit card transactions among cardholders, merchants and banks. B-Secure with dynamic authentication is a feature enhancement within the payment gateway and switching capabilities of Artajasa, to provide security and convenience of card-not-present payment in e-commerce transactions,” stated Pak Bayu.

“We believe that B-Secure is a game changer for the Indonesian domestic card GPN, as this solution provides flexibility and new capabilities for GPN cardholders to enjoy the convenience of online shopping and securely make payment for services, without the fear of payment fraud and unauthorized charges to their GPN account. B-Secure also enables GPN cards to have similar capabilities as Global Branded Scheme cards in online e-commerce and mobile commerce security. We look forward to enabling secure payments and beyond for the Indonesian market, given Infinitium’s robust technological infrastructure and capacity for transaction volume to ensure optimum up-time,” said Ho Ching Wee, Chief Executive Officer of Infinitium Group of Companies.

As Indonesians become more engaged in e-commerce given the increasing usage of smartphones and internet penetration, B-Secure can galvanise greater adoption of e-commerce transactions using a secure and authenticated platform.

“Cardholders with existing GPN accounts do not need to open a separate account or transfer fund into a separate wallet, instead will now be able to use their GPN card online once the Issuer Banks embark on B-Secure. This is a ready-captive market and we have the economies of scale to move the industry due to sheer volume of the captive market share,” Ho added.

Pak Bayu further commented, “As a big population of Indonesians do not hold credit cards, B-Secure now enables these previously “unbanked” people to carry out Online Debit payment for e-commerce. As for banks and merchants, B-Secure will be a new model for acceptance of payment that offer a better system in terms of security and scheme efficiency.”

Pak Donny Bima Herjuno of Bank Negara Indonesia (BNI), representing one of the pioneer issuer partners urged for greater participation through industry collaboration in adopting B-Secure. He said, “Indonesia is facing a paradigm shift in the banking and retail sectors, thus having in place a secure and seamless e-commerce transaction system for all parties is no longer an option, but a necessity. By having this platform, it is aligned to the e-commerce roadmap, which aims to promote online payments penetration. B-Secure authentication will enable and equip all stakeholders involved in Indonesia’s e-commerce market towards exponential growth.”

B-Secure, Enabling Domestic E-Commerce Payment
B-Secure is a real-time and online authentication platform for the stakeholders in the e-commerce ecosystem to securely authenticate and authorise an online GPN transactions across e-commerce and mobile-commerce space.

With Dynamic One-Time Password (OTP) Authentication, B-Secure facilitates a secure transaction cycle among cardholder, bank and merchant in a single process. As a result, the transaction can be completed in real-time and securely benefitting the whole ecosystem:

• Merchants use B-Secure platform to request for authentication and authorisation approval.
• Banks use B-Secure to verify the authenticity of the requesting merchant and authentication the card holder via OTP or other authentication channels such as biometrics.
• Cardholders use B-Secure to enter the OTP and securely complete the transaction in real-time.

B-Secure’s domestic authentication proposition is key to equip all stakeholders in the e-payment ecosystem in preparation for Indonesia’s e-commerce volume growth. Besides generating new revenue streams for issuing banks through the increased usage of their cards for online e-commerce, banks can assure customers that their GPN cards is on par with other Global Scheme cards in terms of security capability for online e-commerce and mobile commerce transactions.

Cardholders can have the peace of mind knowing that their cards are secure with OTP, thereby avoiding unauthorised charges to their bank accounts. They can use their GPN cards to enjoy the convenience of online shopping, and at the same time carry out real-time payment for their purchases.

As for merchants, B-Secure allows them to conduct real-time and secure payment with instant confirmation of approval. This will lead to an increase of sales turnaround and a decreased cost of transactions, besides preventing fraud. Acquiring banks will also be able to generate new revenue streams for accepting GPN online transactions and process GPN payments securely with real-time authentication and authorisation.

- ENDS -

ABOUT PT. ARTAJASA PEMBAYARAN ELEKTRONIS
PT Artajasa Pembayaran Elektronis (Artajasa) is a pioneer of electronic payment system in Indonesia, founded in February 10, 2000. The Company is principal of ATM BERSAMA which is the largest shared ATM network in Indonesia consist of Banks and non-bank institutions. ATM BERSAMA also connected to other cross border principals such as MEPS from Malaysia and other countries. Currently, 94 institutions have joined with ATM BERSAMA network that connects more than 77.000 ATMs nationwide.

Artajasa also develops and manages bill payments network for various industries such as, telecommunications, utilities, transportation, insurance, multi-finance, and education. With more than 18 years experience in the payment system development, the company is expanding its services for providing integrated payments solutions, including delivery channels, electronic money, payment instrument solutions and beyond. For more information, please visit www.artajasa.co.id.

ABOUT PT. INFINITIUM SOLUTIONS
PT. Infinitium Solutions (PTIS) is the subsidiary company of Infinitium Group of Companies. Based in Jakarta, Indonesia, PTIS is established in year 2008 and operates as the Sales and Technical Support Centre to service its local clientele.

In Indonesia, Infinitium has an established portfolio in authentication system and payment gateway services. Among the suite of product solutions by Infinitium are the bank payment gateway (BPG) and recurring payment system (RPS) for acquirers and merchants, Infinitium e-Mall and Infinitium Mobile eXperience (IMX). The Infinitium Integrated Mobile Secure solution (Infinitium IMS) is currently used by 22 local issuer banks to serve their credit card and debit card users in Indonesia. For more information on Infinitium, please visit www.infinitium.com.

For further press information, please contact:

ARTAJASA media contact:
Mutiara Prima Putri
Marketing Communication
Tel : +62 812 9900 0350
Fax : +62 21 2917 7001
Email : mutiara.prima@artajasa.co.id

INFINITIUM media contact:
Brenda Tan
Integrity PR (Malaysia)
Tel : +60 16 834 8945
Email : brenda@integritypr.com.my

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China Taiping Insurance Group signs major deals to boost trade, finance and innovation between Singapore and China
 
Sep 04, 2018
Category:

Singapore, August 27, 2018 --( ASIA TODAY )-- China Taiping Insurance Singapore ("CTPIS"), together with its parent - China Taiping Insurance Group (CTIG), announced major collaborations to boost trade, economic and financial cooperation between Singapore and China to mark its 80th anniversary celebrations today at Singapore's St Regis Hotel.

The occasion is also a double celebration for the Group as CTPIS received its licence as a composite insurer to carry on life business in Singapore from the Monetary Authority of Singapore ("MAS").

China Taiping Insurance Group is one of the four state-owned insurance groups directly managed by China's central government. It has total assets exceeding HKD 666.5 billion (about S$117 billion)1 and 24 subsidiaries with a comprehensive range of services including life insurance, property insurance, pension insurance, reinsurance, reinsurance brokerage and insurance agency, securities brokerage, asset management, non-financial investment and other fields.

The historic event was graced by the Minister for Trade and Industry, Mr. Chan Chun Sing and the Chinese ambassador to Singapore, His Excellency Mr. Hong Xiaoyong.

The high-level attendance by more than 300 VIP guests (including senior government officials. top management representatives and industry captains) underscored the event's significance to affirm the strong bilateral economic and trade relations between Singapore and China.

Mr. Wang Si Dong, Vice Chairman and General Manager, China Taiping Group, said, "We are honoured and delighted to celebrate this milestone event here today. Our presence in Singapore has been very valuable and strategic. Singapore's political stability, strong financial and legal fundamentals, economic vibrancy and warm and pro-business policies have helped our Group prosper over the past 80 years. We have invested substantially in Singapore - with our asset base growing multiple-fold and we will continue to strengthen our commitment in the coming years. We intend to designate our Singapore office as the Regional Headquarters (RHQ) to drive the Group's growth - and continue to benefit from resilient domestic demand and vast public infrastructure investment in key economies, including China under the Belt & Road Initiative (BRI).Today also marks a "double happiness" milestone for us as our subsidiary here received its licence from MAS as a composite insurer to carry on life insurance business in Singapore. This is certainly good news for our business prospects! We will remain committed to help and provide more support to businesses here to take advantage of the wealth of opportunities in the region so that we can all forge ahead to enjoy many more years of prosperity and positive growth."

On celebrating CTPIS' 80th anniversary, Deputy General Manager, China Taiping Group and Chairman of China Taiping Insurance Singapore, Mr. Hong Bo commented, "This is indeed a momentous occasion to celebrate CTPIS' 80th anniversary at a time when the finance and insurance industry is booming.

“‘Singapore’s finance and insurance sector is expected to grow at 7% this year - outpacing Singapore's national economic growth - according to a recent poll done by the Monetary Authority of Singapore (MAS)2 - which also showed that Singapore’s finance and insurance sector will take a larger role in driving economic growth in 2018. “

“These trends” he added “herald bright prospects for us as our strong heritage positions us well to ride the growth wave together with our strategic partners in Singapore and overseas. CTPIS has demonstrated remarkable growth and resilience over the years. We are now on the cusp of even greater growth - as we pursue new opportunities in Singapore and the region with a larger capital base and a wider group of leading enterprises from both the public and private sectors. Our combined strengths will enable us to accelerate our growth plans forward."

Altogether three deals were inked between CTIG and major Singapore organisations while CTPIS signed strategic agreements with two of China's largest banks - Singapore Branch - BOC and ICBC. The auspicious occasion also saw the unveiling of the first Innovation Lab by Chinese enterprises in Singapore by senior officials of China Taiping Insurance Group, Enterprise Singapore, the Chinese Embassy and the Monetary Authority of Singapore ("MAS").

Partnership with Enterprise Singapore to Promote Belt & Road Initiative ("BRI") and drive innovation collaboration with the Chinese Insurer’s first Innovation Lab in the region.

CTIG and Enterprise Singapore signed a Memorandum of Understanding (MOU) today to promote greater collaboration between Singapore and Chinese companies on regional infrastructure projects under the BRI. Both parties will also work together on CTIG’s Singapore Innovation Lab to explore fintech and innovation opportunities in the region. This marks the first innovation lab by the Chinese insurer in the region.

With this partnership, CTIG and Enterprise Singapore will facilitate the participation of Singapore companies in regional infrastructure projects in China and other global markets . CTIG will also work with Enterprise Singapore to support Singapore companies in their BRI investments, including providing asset management services, insurance and financing support.

Said Mr Yew Sung Pei, Assistant Chief Executive Officer, Enterprise Singapore, “Enterprise Singapore’s partnership with China Taiping supports our continuous efforts to build a more vibrant and diverse innovation ecosystem in Singapore. China Taiping’s Innovation Lab will provide another avenue for promising global startups to testbed and apply their technologies in a realistic, commercial environment here.”

The MOU between CTIG and Enterprise Singapore was signed by Mr Hong Bo and Mr Wong Choo Sin, Director, China Division of Enterprise Singapore.

Singapore’s Minister for Trade and Industry, Mr Chan Chun Sing, Chinese ambassador to Singapore, His Excellency, Mr Hong Xiaoyong, Mr Yew Sung Pei, Assistant Managing Director of Monetary Authority of Singapore (MAS), Mr Ng Yao Loong, Mr Wang Si Dong, Mr Hong Bo, and General Manager China Taiping Singapore, Mr Yang Yamei, jointly unveiled the Singapore Innovation Lab today at CTPIS’s 80th anniversary event.

The Singapore Innovation Lab will carry out incubation activities, develop innovation capabilities, and serve as a testbed for new technologies like mobile intelligent insurance survey solutions, facial recognition, robotics and Artificial Intelligence customer management solutions, Internet-Of-Things, and big data analytics. Enterprise Singapore will connect suitable Singapore-based startups to CTIG and facilitate collaboration in these areas.

CTIG plans to invest an initial sum of US$2 million to set up the lab, with an additional sum of US$3 million to be injected at the second phase.

Intent for Mutual Cooperation with SCCCI to boost Collaboration

CTIG and SCCCI singed an intent to pursue project and innovative business cooperation for SCCCI's members. SCCCI currently has more than 160 trade association members and 5,000 corporate members. Its network covers more than 40,000 multinational companies, government-linked institutions, large financial and business organisations and small and medium enterprises from various industries.

MOU with RMG to jointly provide medical/healthcare insurance solutions as well as healthcare management services and explore health-related real estate opportunities

CTIG and SGX-listed RMG will explore setting up a joint venture company in China to offer a range of medical and healthcare insurance products as well as healthcare management services. The MOU will enable CTIG to appoint RMG as its preferred network of medical providers for its insured members (covering individual and corporate), staff and their dependents, as well as affiliates of CTIG. CTIG and RMG will also co-operate to actively explore opportunities in investment, management and/or consulting businesses in health-related real estate in China including medical facilities, elderly homes and retirement villages.

Strategic Agreements between CTPIS and BOC and CTPIS and ICBC

CTPIS meanwhile inked two strategic agreements with both Bank of China ("BOC") Singapore Branch and Industrial and Commercial Bank of China Limited Singapore Branch ("ICBC Singapore") with CTPIS and both banks in collaboration to provide various financial solutions for their customers and employees.

Further details of the MOUs and Strategic Agreements can be found on the attached Factsheet.

Cheque Presentation to the ST School Pocket Money Fund

Following the signing ceremony, CTPIS also made the auspicious occasion more meaningful with a notable donation to The Straits Times School Pocket Money Fund ("STSPMF"). A cheque of S$90,000 was presented by Mr. Hong Bo and Mr. Yang Yamei to STSPMF trustee Mr. Arthur Lang and SPH representatives Mr Anthony Tan and Ms. Tan Bee Heong.

"Corporate Social Responsibility is part of our culture of giving back to society. Helping children in their formative years is something we are committed to do as we see this as our responsibility to nurture our next generation. Children are our assets for future growth and we are happy to have this opportunity to contribute to their well-being and development," said Mr. Yang.

CTPIS also undertook an active 80th anniversary campaign to celebrate this milestone in Singapore. Some of its anniversary activities include a fund raising 5KM Fun Run, outdoor and print advertising campaigns as well as product promotions for travel, home, maid and motor insurance.

About China Taiping Insurance Singapore

China Taiping Insurance (Singapore) Pte. Ltd. (“CTPIS”) is a leading composite insurer for both life and general insurance businesses, originated from Tai Ping Insurance Co. Ltd Singapore Branch established in Singapore since 1938. CTPIS has a financial strength rating of “A” and issuer credit rating of “a” by the A.M. Best, and the outlook of these Credit Ratings (ratings) is stable. CTPIS has been assuring our customers in Singapore with financial peace of mind for the last 80 years. Our personal insurance protection covers travel, motor, home, personal accident, hospital and domestic maid. Our business insurance includes various business operation packages, property, casualty (includes work injury compensation), bonds, engineering, marine and medical & health. CTPIS is wholly owned by China Taiping Insurance Holdings Company Limited (“CTIH”), which was listed on the Hong Kong Stock Exchange in 2000, making it the first Chinese-funded insurer listed overseas.

About China Taiping Group

China Taiping Insurance Group Limited, CTIPS’ parent, is a large transnational financial and insurance group with 500,000 employees, 24 subsidiaries, more than 2,000 business outlets and total assets of RMB 600 billion. Its business network covers Mainland China, Hong Kong, Macau, North America, Europe, Oceania, East and Southeast Asia. In July 2018, it became one of the Fortune 500 companies. Its business scope includes life insurance, general insurance, pension insurance, reinsurance, reinsurance brokers and insurance agency, internet insurance, assets management, securities brokerage, financial lease, real estate investment, pension industry investment and other business, thus providing our clients with one-stop financial and insurance services.

About Enterprise Singapore

Enterprise Singapore, formerly International Enterprise Singapore and SPRING Singapore, is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise.

We also support the growth of Singapore as a hub for global trading and startups. As the national standards and accreditation body, we continue to build trust in Singapore’s products and services through quality and standards.

About Raffles Medical Group

Raffles Medical Group Ltd is a leading integrated private healthcare provider in Asia incorporated in 1976 and headquartered in Singapore. Raffles Medical Group is listed on the Main Board of Singapore Exchange (SGX: BSL) since 11 April 1997. It runs medical facilities in fourteen cities in Singapore, China, Japan, Vietnam and Cambodia, with two international hospitals under construction in Shanghai and Chongqing. It is the only private medical provider in Singapore that owns and operates a fully integrated healthcare organisation comprising a tertiary hospital, a network of family medicine and dental clinics, insurance services, Japanese and Traditional Chinese Medicine clinics, and a consumer healthcare division.

About Singapore Chinese Chamber of Commerce and Industry

Established in 1906, the Singapore Chinese Chamber of Commerce & Industry (SCCCI) is an internationally renowned business organisation and the apex body of the Chinese business community in Singapore. It is the founder of the biennial World Chinese Entrepreneurs Convention, a global business convention. It plays a key and pro-active role in representing the interests of the local business community. In its continued drive for service excellence, the SCCCI has become the first business chamber in the region to be awarded ISO 9001 certification since 1995. In 2009, the Chamber successfully upgraded its ISO certification to ISO 9001:2008.

The SCCCI has a membership network comprising 5,000 corporate members and has more than 160 trade association members, representing over 40,000 companies including large financial and business organisations, multinational corporations, government-linked companies, and small and medium enterprises from a wide spectrum of trades and industries. These members together provide vast resources and opportunities which enable the SCCCI to develop an influential global Chinese business network for business, education, culture and community development. In return, they share a strong sense of pride and identity together and benefit immensely from the SCCCI’s membership services, facilities and activities.

About Bank of China

Bank of China Singapore Branch (BOCSG) was established in 1936. It holds a Qualifying Full Bank License (QFB) in Singapore since 2012. Out of over 120 foreign banks in Singapore, 10 have obtained this license. BOCSG has a network of 23 financial touch points in Singapore, including 13 sub-branches and 10 self-service banking outlets, and at the same time providing banking services at over 200 automated teller machines through the ATM5 network island-wide. Leveraging on the Group’s extensive global network and local expertise, it provides customers with a full suite of banking services such as traditional commercial banking services, investment banking services, and private banking services.

BOCSG, on behalf of the Head Office, manages and operates several regional business centres, including Commodity Business Unit (which consists of The Commodity Finance Unit, The Global Commodity REPO Centre and The Commodities Trading Desk), Forfaiting Unit, Debt Capital Market Centre (Asia), Private Banking Centre, Card Unit, Innovation Lab and Overseas Training Centre. With the direction to support the internationalisation of China and Singapore enterprises, its operations cover Southeast Asia and extend to the global market.

Since its establishment, BOCSG has been committed to innovation and development. In 2016, BOCSG was the first Chinese enterprise to be conferred the “Business China Enterprise Award”. In 2017, BOCSG became a council member of the Association of Banks in Singapore, and was elected as the chairman of the Southeast Asia Regional Committee of the International Trade and Forfaiting Association. BOCSG also actively supports RMB internationalisation. It is the pioneer bank in offering RMB products in Singapore, and also the largest RMB service provider currently. With the deepening collaboration between China and Singapore, BOCSG will persistently enable advancement through technology, drive development through innovation, deliver performance through transformation and enhance strength through reform, in an effort to build Bank of China into a world-class bank in the new era, bringing greater contributions to Sino-Singapore relations.

About Industrial & Commercial Bank of China Limited Singapore Branch

Industrial & Commercial Bank of China Limited Singapore Branch (ICBC Singapore), the first overseas institution of ICBC, was established in 1993. Over years of arduous endeavour, ICBC Singapore has become one of the leading commercial banks in Singapore, offering a full range of financial products and services covering retail banking, private banking, corporate banking, institutional banking and investment banking.

Issued on behalf of CTPIS:
For more information, please contact:

Ms. Tham Moon Yee
Mr. Soh Tiang Keng
Mr. Julian Kay

Stratagem Consultants Pte Ltd:
Tel: 65 6227 0502
Fax: 65 6227 5663

Media Contact:
Cindy Cheng
Head, Marketing
China Taiping Insurance (Singapore) Pte Ltd
Tel: (65) 6389 6158
Cindy.cheng@sg.cntaiping.com

Ms. Tham Moon Yee
Stratagem Consultants Pte Ltd:
Tel: (65) 6227 0502
tmy@stratagemconsultants.com

Mr. Julian Kay
Stratagem Consultants Pte Ltd:
Tel: (65) 6227 0502
julian@stratagemconsultants.com

About ST School Pocket Money Fund (STSPMF)

The Straits Times School Pocket Money Fund (STSPMF) was started in 2000 as a community project initiated by The Straits Times to provide pocket money to children from low-income families to help them through school. The children can use this money for school-related expenses, such as buying a meal during recess, paying for transport or using it to meet other schooling needs. The financial help also eases the burden of the many parents who are already struggling to feed their families on their meagre incomes.

The Fund supports more than 10,000 children and youth a year. Since the project started in 2000, the Fund has disbursed more than $60m and helped over 160,000 cases of children and youth in providing them with monthly school pocket money.

STSPMF was established as a Trust on 20 October 2010 with a Board of Trustees and was granted charity status on 14 November 2011 with Institution of A Public Character (IPC) status effective from 1 January 2012.

The funds works with the Ministry of Education, mainstream and special needs schools, youth centres, family service centres and children's homes in disbursing the funds to students from low-income families.

- ASIA TODAY News Global Distribution http://www.AsiaToday.com

 
 
Kienlong Commercial Joint Stock Bank to Launch Kienlongbank - JCB Credit Card in Vietnam
 
JCN Newswire
Aug 20, 2018
Category:

Ho Chi Minh City and Tokyo - (ACN Newswire) - Kienlong Commercial Joint Stock Bank (Kienlongbank) and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd, announced Kienlongbank - JCB Credit Card launched on August 18th in Vietnam.

The holders of Kienlongbank-JCB Card can access the JCB acceptance network with about 30 million merchants in the world, and enjoy a lot of benefits provided by Kienlongbank, special privileges at selected merchants, and customer service at JCB Plaza, an overseas service counter around the world.

Moreover, Kienlongbank-JCB Platinum Credit Cardholders are entitled to a number of other privileges such as the access to over 73 airport lounges in Japan, China, Hong Kong, Singapore, Korea, Thailand and Vietnam; and 24/7 global support through a free hotline when booking car rental, hotel, restaurant, and golf in Japan.

The new cardholder will be waived issuing fee and annual fee of the first year, also for next years if reach the required minimum spending volume. Besides, from September 1st 2018 to December 31st 2018, Kienlongbank will offer gifts to customer who apply for new Kienlongbank - JCB card, and cardholder of Kienlongbank - JCB Card with spending from VND 2 million in the first 30 days after activating.

About Kienlongbank

Kienlong Commercial Joint-Stock Bank (Kienlongbank) was established and has been in operation from October 1995 in Kien Giang province in Vietnam. After over 23 years of operation, Kienlongbank has become a strongly developed, stable and reliable bank.

Kienlongbank set up, constantly strengthening and developing its business network; diversifying products and services, investing in the development of e-banking services; strengthening training and improving personnel policies, attracting talents; assuring the operation of an effective risk management system; improving financial capacity; performing social responsibility through social security activities.

The bank's strategy is to consistently expand its transaction network and bring Kienlongbank's brand, products and services closer to nationwide customers. Kienlongbank continued expanding its nationwide network and accelerated e-banking service development as approved by the State Bank of Vietnam. By the end of 2018, Kienlongbank possessed 134 transaction outlets, including 30 branches and 104 transaction offices located at 28 provinces and cities, striving to develop Kienlongbank into one of the 15 leading retail banks in Vietnam in the near future. For more information, please visit: https://kienlongbank.com

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

Contact
Kienlongbank
Customer Service Center
Tel: +84 28 1900 6929
Email: kienlong@kienlongbank.com

JCB Co., Ltd.
Kumiko Kida
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp

 
 
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Foreign residents allow to invest in China’s USD 7 trillion stock market
 
China Knowledge Online
Aug 18, 2018
Category:

Aug 16, 2018 (China Knowledge) - Foreigners working in China can now invest in China’s A-shares was announced by the China Securities Regulatory Commission (CSRC) after the market closed yesterday. The breaking news is expected to open the floodgate of some 900,000 foreign residents who are working in the Mainland China to access the country’s USD 7 trillion stock market in Shanghai and Shenzhen.

For three decades since the Shanghai bourse launched in 1990 stock trading to foreigners were closed, and only granted to large funds from 2003 through the Qualified Foreign Institutional Investor (QFII) scheme, which to date, totaled over USD 100 billion from 287 foreign firms. Then came the Stock Connect and Bond Connect in 2016 where foreign institutions could trade domestic stocks and bonds through Hong Kong.

Candidly speaking, allowing approved foreign residents to invest directly would spice up their dining and drinking experience with new topics and sharing circling listed companies’ performance and investment opportunities. Before it was like watching the World Cup but no channel to execute ideas or opinions on the games. At only a quarter of U.S.’s GDP per capita Chinese economy will see ample room for growth for its listed companies, and these should lure more foreign participation.

Other positive news from the financial industry, mainly benefitting the foreign institutions, include the introduction RMB denominated crude oil and rubber futures, easing of trading quota, granting of more fund businesses’ license, allowing foreign M&A on local listed companies, and with many new laws amended this could further facilitate the access to China’s USD 49 trillion markets.

There are also other opportunities but little known to foreigners here include the access to the country’s trust products, mutual funds and other licensed bank’s wealth products. Just the size of high-yield collateralized loans in the trust industry exceeds the total of all the world’s hedge funds combined, at over USD 4 trillion. The high annual returns of these trust products of between 5% and 14% could by itself attract a plethora of salivating investors from across the globe. China’s USD 1.6 trillion mutual funds is another option made available through most local banks.

If U.S. is the standard gauge to apply the foreign ownership of American equities and bonds of one-third that proportion could translate into several trillions of dollars investments from overseas entering China. Recent months of strong buying from foreign institutional funds in the domestic stocks and bonds have seen billions of dollars a day of investments, and to quote from the China HK bond connect program’s official, daily buying of bonds will increase 4 folds by 2020 from current USD 1 billion a day.

The stock market access is a major move to open up China entirely, and it is foreseeable the Chinese currency will be completely free float and become a major global currency within a decade, or even faster.

 
 
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Sendo raises $51 million from SoftBank Ventures Korea and other investors
 
Aug 16, 2018
Category:

HO CHI MINH CITY, Vietnam, Aug. 16, 2018 /PRNewswire/ -- Sen Do Technology JSC (Sendo), the #1 Vietnamese C2C marketplace, today announced that it has secured an investment of USD 51 million led by the SBI Group from Japan for Series B round, having SoftBank Ventures Korea, Daiwa PI Partners, and SKS Ventures as new investors. The funding round from investors in Japan, Korea, and Taiwan was participated by all the existing investors, including SBI Group, FPT Group, eContext Asia, BEENEXT, and BEENOS.

Nguyen Dac Viet Dung, Executive Chairman and Co-Founder of Sendo, said: "The funding would help the company to expand the C2C platform Sendo, launch the B2C marketplace SenMall, and making SenPay the leading fintech platform in Vietnam. Our ultimate goal is to continue to support hundreds of thousands of Vietnamese sellers to prosper, and along the way help creating millions of jobs for the Vietnamese people. Having achieved the annualized GMV of 330 million USD, the company is on track to surpass USD 1 billion of GMV in 2020."

Daniel Kang, Partner and Managing Director of SoftBank Ventures Korea, said: "Vietnam is at its inflection point, bolstered by rapid GDP growth, young population and willingness to adopt technology. Against this backdrop, Vietnam's e-commerce has strong growth potential and we believe Sendo's marketplace model will benefit from the environments the most."

In a fast-growing e-commerce market, Sendo has differentiated itself by focusing on not only Hanoi and Ho Chi Minh City but also the untapped Tier 2 cities population, where 70 million Vietnamese people live. Being a homegrown company also allows the company to have deep understanding of the Vietnamese local market and culture. Sendo currently serves more than 300,000 sellers and millions of buyers in all 63 provinces in Vietnam. To achieve its fast growth, Sendo focuses on utilizing the strength of partners in the ecosystem, such as merchants, third-party logistics, and advertising companies. The company also provides SenPay, a Mobile Wallet Service and Fintech solution on Sendo Platform as well as the off-line world.

Introduction of Sendo:

Launched in March 2012, Sendo is the #1 C2C marketplace in Vietnam, offering more than 10 million of products on its platform. This is also the first e-commerce marketplace combined with logistics providers and banks to provide customers with a full package of guaranteed transaction. In 2016, Sendo's fintech subsidiary FPT Wallet, which operates Senpay, received e-payment licensed from the State Bank of Vietnam.

Introduction of SoftBank Ventures Korea

Established in year 2000, SoftBank Ventures Korea is the only global early-stage venture capital arm of SoftBank Group based in Seoul, Korea. SoftBank Ventures Korea invests in start-ups with a strong potential in Asia, the U.S., Israel, and the EU, focusing on AI, IoT, and smart robotics industry. To date, Softbank Ventures Korea has invested US$600 million across 230 start-up companies.

Introductions of Daiwa PI Partners

Daiwa PI Partners is an entity of Daiwa Securities Group which engages in the principle investment business. Since its establishment starting out as a player in the debt investment field in 1998, Daiwa PI Partners has been broadly expanding its business, which now extends not only to debt investment but private equity and energy investment as well. It now engages in various investments worldwide, i.e., in Japan, Vietnam, and other Asian countries, U.K., and Australia.

Introduction of SKS Ventures

SKS Ventures is a global investment management institution established in late 2017. It manages over four funds, over USD350 million AUM, covering direct investments, funds of funds, pre-IPOs and leverage buyouts in industries such as TMT, education, beauty, packaging, biotech, manufacturing, IoT and more. SKS Ventures invests strategically and globally in China, Vietnam, the US, Hong Kong, and Taiwan. SKS Ventures integrates and revamps the current hardware industry to keep up with the changes and demands of the current and future retail, software and automobile market place.

Introduction of FPT Group

FPT is the biggest IT service company in Vietnam and region with more than 32.000 employees, including nearly 14.000 technology specialists.

FPT currently provides IT service in 33 countries all over the world, with key markets such as Japan, the U.S and Europe. As a pioneer in 4.0 revolution, FPT, together with global leading corporations which own 4.0 technology platforms in the world such as GE, Siemens, AWS,… is pioneering in digital transformation for customers in over the world.

Introduction of SBI Group

The SBI Group is Japan's leading financial services company which was established in 1999 as a pioneer of Internet-based financial services, and currently has formed the world's first Internet-based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. The SBI Group also globally manages a number of private equity and venture capital funds. As a pioneer in the Fintech industry and after years of actively investing in start-up companies in the sectors such as IT, mobile, bio-life science and Fintech, the SBI Group has now become a global leader in making active investments in the area of Fintech, artificial intelligence and Blockchain. With an aim to expand the Group's footprint in Southeast Asia, SBI Group has invested in and added value to a number of technology and financial services companies in the region as well.

Introduction of eContext Asia

Established in Sep 2012, EContext Asia is a holding company of payment businesses for the global expansion of EC platforms of all types.

Introduction of BEENEXT

BEENEXT is the Venture Capital managed by serial entrepreneurs and focuses on assisting founders with operational experience, global network, trust and the capital. The team invests in early-stage tech startups in Vietnam, other South East Asia, India, Japan and USA that create the Digital Platform (Marketplace, Payment, Fintech, AI, Data, SaaS, IoT, Healthcare, Agritech) with the power of network, technology and data. It supports the company's exponential growth via unique data generation and platform plays.

Introduction of BEENOS

BEENOS was founded in 1999 as an E-commerce marketplace during the early phase of Internet-related businesses in the Japanese market. Its business model is divided into two segments: the E-Commerce segment that engages in a variety of E-Commerce businesses domestically and internationally, and the Incubation segment which invests in tech startups mainly in Southeast Asia, Japan, and the US as well as creates new business opportunities for other subsidiaries. BEENOS's mission is to connect Japan with the world on the global platform frontier. BEENOS and one of its subsidiaries are publicly listed on the Tokyo Stock Exchange.

Contact: Ms Nguyen Ho Huyen Trinh - Marketing Director email: trinhnhh@sendo.vn, phone: +84 (028) 73001188

Source: Sen Do Technology JSC

- ASIA TODAY News Global Distribution http://www.AsiaToday.com

 
 
XIUS Unveils Machine Learning based Data Platform for MVNOs
 
JCN Newswire
Aug 01, 2018
Category:

MVNOs Envisage Increased ARPU and Customized Customer Experience

HYDERABAD, INDIA - (ACN Newswire) - XIUS, a leading supplier of mobile technology, mobile payments and enterprise offerings has unveiled its 'vData Core', a patent-pending telco grade platform. This platform, the first of its kind, incorporates Machine Learning (ML) at the core and equips Mobile Virtual Network Operators (MVNOs) to boost revenue and thrive.

Today, a majority of Communication Service Providers' (CSP) revenue is generated from data services. It is estimated that by 2021, the average data consumption will be 52 Exabytes per month with 70 percent of mobile data being video. This makes it necessary for CSPs to be well prepared in effectively monetizing the unimaginable surge in data usage.

With vData Core, XIUS will enable MVNOs to offer personalized data packages and enchant their end users with customized customer experience through Machine Learning and Network Function Virtualization (NFV). Additionally, vData Core's capacity optimization provides visibility into the entire infrastructure making it possible to meet changing service demands. MVNOs can leverage vData Core's capabilities to improve their operational efficiency, increase agility to market and deliver services to end users more effectively.

5G expects network slicing for various customers and classes of customer which MVNOs can now achieve through NFV. AI based slicing and crucial configuring of varied products, services and plans for each customer is made extremely simple by vData Core.

One of the key challenges faced by MVNOs is that a greater portion of Average Revenue per User (ARPU) is generated through data services but lack of innovation has led to flattened revenue and increased customer churn.

G V Kumar, CEO and Managing Director of XIUS said, "MVNOs have been fast to capitalize on the modern day consumer's data needs and understand that consumers often pick an operator based on data packages. It has also been proven that they can grow their business through customer-centricity. vData Core will enable MVNOs to understand their customer and innovate based on consumer needs. It will help them to efficiently manage and monetize data and ultimately enhance customer experience".

XIUS vData Core helps MVNOs beat competition with on-the-fly and quick launch of data plans, add-ons and combo packages. The Machine Learning (ML) driven auto-generation of personalized product / service offerings to individual subscribers improves customer loyalty and reduces churn. Over a period of time, with extended and vigilant use, it is likely to boost data ARPU by about 15 percent and transform product engagement by about 25 percent.

XIUS is offering highly attractive commercial models to interested customers.

About XIUS

XIUS is a mobile technology specialist focused on real-time transaction processing in Mobile Infrastructure & Services and Mobile Banking & Payments.

XIUS, a division of Megasoft Limited, brings together premium technology and outstanding value-added solutions for customers globally. Over 25 years of telecom expertise is proven by more than 230 deployments and customers that include Tier 1 mobile operators, MVNOs and large enterprises across 5 continents. Its strong belief in innovation reflects in the filing of 120 patents, with 35 awarded to date.

XIUS is adept in meeting its client expectations and their needs. The varied portfolio of MVNOs to which it has provided solutions and offers services comprise of rural-inclusive, digital, cable, banking, ethnic, M2M, youth, roaming, advertisement-based, retail and loyalty.

XIUS mobile infrastructure solutions process and manage in excess of 350 million calls / data sessions a day and the mobile payments solutions manage over US$ 1 billion worth of payment transactions monthly. To know more, please visit www.xius.com.

For more information, please contact marketing@xius.com.

 
 
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