Hashtag: #ESPCleaning #CommercialCleaningServices #OfficeCleaningServices

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

About ESP Cleaning Services

ESP Cleaning Services is a premier cleaning provider in Singapore, known for its wide range of services catering to residential and commercial sectors. Strongly emphasising quality, reliability, and customer satisfaction, ESP has built a reputation as the go-to commercial cleaning services provider for businesses of all sizes. Their vision is to be the leading cleaning service provider in Singapore, always innovating and improving to meet their clientele’s ever-evolving needs.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

HONG KONG SAR – Media OutReach – 11 September 2023 – Known for its variety of shopping and dining outlets, Starstreet Precinct is a pet-friendly neighbourhood that welcomes four-legged friends year-round. From today to 24 September, Starstreet Precinct will take you on a pawsome adventure where pet owners can bring their furry friends for a fun day out. Make your way to the decorative photo spots in the Precinct for cheeky snaps. Get tails wagging in excitement, as you shop at the charitable weekend Pawsome Market, featuring over 20 participating homegrown Hong Kong pet brands. Don’t forget to visit the pet-friendly shops and restaurants* in the area afterwards!

*For the full pet-friendly shops at Starstreet Precinct, please see Appendix.

Capture Memorable Moments With Your Pets!

This animal wonderland is sure to keep everyone busy for a fun-filled day out. The themed decorations dotted outside Three Pacific Place on Wing Fung Street ensure you and your furry friends get plenty of nice shots. Smile next to the geometric Shiba and happy cat for the first shot, then hop on the caravan located behind the bus stop to feel like being on a camping expedition with your pets , making it another unique photo spot!

Date: From today until 24 September 2023

Location: Starstreet Precinct (Outside Three Pacific Place on Wing Fung Street)

Shop for a Good Cause!

Pamper your pets with goodies from the Pawsome Market featuring a rotation of wide range of homegrown Hong Kong pet brands, with highlights including Dots HK for ultra-chic outfits; Tailsup to treat them to delicacies like beef pumpkin waffles; Summinnie Pets for natural “super snacks”; signature freeze-dried treat from The Dog’s Garden; and more! From dressing your dapper pups and felines to feeding them with some well-deserved goodies, you can find something new every time you visit!

Best of all – all rental proceeds from the event will be donated to Paws United Charity to support their work to improve the lives of animals in need. There will also be other donation channels onsite so pawrents can lend an extra hand if they wish.

Date: 9-10, 16 -17 and 23 – 24 September 2023 (Saturdays and Sundays)

Location: Starstreet Precinct (Outside Three Pacific Place on Star Street)

Featured products:

Official website: www.starstreet.com.hk
IG: @starstreethk
FB: starstreet
#starstreethk

Appendix: Pet-Friendly Shops at Starstreet Precinct

Hashtag: #PawsomeAdventure #PawsomeMarket #StarstreetPrecinct #PawsAndPose

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

About Starstreet Precinct

Starstreet Precinct is a vibrant destination in Wan Chai, comprised mainly of Wing Fung Street, Star Street, Moon Street, Sun Street, and St. Francis Yard. Over the years, the neighbourhood has evolved from a quaint, historic landmark, into an eclectic hangout hotspot for those with a unique sense of style and character. Filled with cosy cafés, restaurants, bars, boutique shops with the most coveted fashion selections, galleries and interior design stores, the precinct offers an array of day-to-night experiences. With a focus on community and a passion to foster a sustainable lifestyle for all, Starstreet Precinct and its tenants are collectively working to build a better future together. Connected to Pacific Place and Admiralty station through the Three Pacific Place underground link, the neighbourhood is a hidden gem in the heart of Hong Kong.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Tokyo, Japan and Paris, France – Newsfile Corp. – September 11, 2023 – Renesas Electronics Corporation (TSE: 6723) (“Renesas”) and Sequans Communications S.A. (NYSE: SQNS) (“Sequans”) today announced that Renesas has commenced the previously-announced tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (“ADSs”) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes.

The tender offer is being made pursuant to the memorandum of understanding between Renesas and Sequans dated August 4, 2023, as amended. As previously announced on August 16, 2023, the Sequans Board of Directors determined that the Renesas offer is consistent with and will further the business objectives and goals of Sequans, and is in the best interests of Sequans, its employees, and its shareholders, and recommends that all holders of ordinary shares and ADSs accept Renesas’ offer and tender their outstanding shares and/or ADSs to Renesas.

The tender offer is scheduled to expire at one minute after 11:59 P.M. (New York City time) on October 6, 2023, unless extended or terminated. The closing of the tender offer is subject to the valid tender of ordinary shares and ADSs of Sequans representing – together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any – at least 90% of the fully diluted ordinary shares and ADSs, as well as confirmation of tax treatment from relevant authorities, regulatory approvals and other customary closing conditions.

About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. The leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, YouTube and Instagram.

About Sequans Communications
Sequans Communications S.A. (NYSE: SQNS) is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, South Korea, and China. Visit Sequans online at http://www.sequans.com/, and follow us on Facebook, Twitter and LinkedIn.

Advisors
BofA Securities is serving as financial advisor to Renesas, and Goodwin Procter LLP is serving as legal counsel. Needham & Company is serving as financial advisor to Sequans, and Orrick, Herrington & Sutcliffe LLP is serving as legal counsel.

Important Additional Information and Where to Find It
In connection with the proposed acquisition of Sequans Communications S.A. (“Sequans”) by Renesas Electronics Corporation, a Japanese corporation (“Parent” or “Renesas”), Parent commenced a tender offer for all of the outstanding ordinary shares, including American Depositary Shares of Sequans, on September 11, 2023. This communication is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell securities of Sequans. It is also not a substitute for the tender offer materials that Renesas Electronics Europe GmbH, a direct wholly owned subsidiary of Parent (“Purchaser”) filed with the Securities and Exchange Commission (the “SEC”) or the solicitation/recommendation statement that Sequans filed on Schedule 14D-9 with the SEC upon commencement of the tender offer. Purchaser filed tender offer materials on Schedule TO with the SEC, and Sequans filed a Solicitation/Recommendation Statement on Schedule 14D-9 and a Schedule 13E-3 transaction statement with respect to the tender offer with the SEC with respect to the tender offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION/RECOMMENDATION STATEMENT AND TRANSACTION STATEMENT CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY AND BE CONSIDERED BY SEQUANS’ SECURITYHOLDERS BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. Both the tender offer materials and the solicitation/recommendation statement and transaction statement will be made available to Sequans’ investors and security holders free of charge. A free copy of the tender offer materials and the solicitation/recommendation statement will also be made available to all of Sequans’ investors and security holders by contacting Sequans at [email protected], or by visiting Sequans’ website (www.sequans.com). In addition, the tender offer materials and the solicitation/recommendation statement (and all other documents filed by Sequans with the SEC) will be available at no charge on the SEC’s website (www.sec.gov) upon filing with the SEC. SEQUANS’ INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE TENDER OFFER MATERIALS, THE SOLICITATION/RECOMMENDATION STATEMENT AND THE TRANSACTION STATEMENT, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED BY PARENT OR SEQUANS WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE TENDER OFFER. THESE MATERIALS CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER, PARENT AND SEQUANS.

Cautionary note regarding forward-looking statements
This announcement may contain certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Renesas and/or Sequans and/or the combined group following completion of the transaction and certain plans and objectives of Renesas with respect thereto. These forward-looking statements include, but are not limited to, statements regarding the satisfaction of conditions to the completion of the proposed transaction and the expected completion of the proposed transaction, the timing and benefits thereof, as well as other statements that are not historical fact. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as “anticipate,” “target,” “continue,” “estimate,” “expect,” ”forecast,” “intend,” “may,” “plan,” “goal,” “believe,” “hope,” “aims,” “continue,” “could,” “project,” “should,” “will” or other words of similar meaning. These statements are based on assumptions and assessments made by Renesas and/or Sequans (as applicable) in light of their experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.

Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Such risks and uncertainties include, but are not limited to, the potential failure to satisfy conditions to the completion of the proposed transaction due to the failure to receive a sufficient number of tendered shares in the tender offer; the failure to obtain necessary regulatory or other approvals; the outcome of legal proceedings that may be instituted against Sequans and/or others relating to the transaction; the possibility that competing offers will be made; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; significant or unexpected costs, charges or expenses resulting from the proposed transaction; and negative effects of this announcement or the consummation of the proposed acquisition on the market price of Sequans’ ADS and ordinary shares. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. If any one or more of these risks or uncertainties materializes or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward-looking statements should therefore be construed in the light of such factors. A more complete description of these and other material risks can be found in Sequans’ filings with the SEC, including its annual report on Form 20-F for the year ended December 31, 2022, subsequent filings on Form 6-K and other documents that may be filed from time to time with the SEC, as well as, the Schedule TO and related tender offer documents filed by Parent and Purchaser and the Schedule 14D-9 and Schedule 13E-3 filed by Sequans. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Neither Renesas nor Sequans undertakes any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.

No member of the Renesas group or the Sequans group nor any of their respective associates, directors, officers, employers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur.

Except as expressly provided in this announcement, no forward-looking or other statements have been reviewed by the auditors of the Renesas group or the Sequans group. All subsequent oral or written forward-looking statements attributable to any member of the Renesas group or the Sequans group, or any of their respective associates, directors, officers, employers or advisers, are expressly qualified in their entirety by the cautionary statement above.

###

All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.

Media Contacts:
Renesas Electronics Corporation
Akiko Ishiyama
+ 1-408-887-9006
[email protected]

Sequans Communications S.A.
Kimberly Tassin
+1-425-736-0569
[email protected]

Investor Relations Contacts:
Renesas Electronics Corporation
Yuuki Oka
+81 3-6773-3002
[email protected]

Sequans Communications S.A.
Kim Rogers
+1-541-904-5075
[email protected]

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

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

SHANGHAI, CHINA – Media OutReach – 11 September 2023 – Arup commemorated the relocation of its Shanghai office last week with an open house event at the new premises in Xujiahui Centre, located in the heart of Shanghai’s CBD. More than 150 clients and partners joined the celebration, gaining exclusive insights into Arup’s innovative approaches and cutting-edge technologies to drive sustainable development in China.

“As we proudly open our new Shanghai office, we renew our unwavering commitment to China and its economy. For 40 years, we have been transforming China’s urban landscape while benefitting from its rapid growth. As China embarks on a new chapter of urbanisation, we are dedicated to leveraging our overseas experience and accumulated local know-how to support China’s ‘dual carbon’ ambition.”

– Andy Lee, East Asia Region Chair, Arup

The evening featured inspiring discussions on sustainability, including topics such as low-carbon planning, climate risk assessment and resilience strategies, and decarbonising buildings. The highlight was the premiere of Abundance, an Arup-produced short fiction film that explores nature-based solutions and inspires designers to envision our collective regenerative future. The guests also had the opportunity to experience Arup-incubated smart building platform, Neuron, and Total Digital Design tool.

Over the past four decades, Arup has grown alongside China’s urban development, delivering iconic buildings, strategic infrastructure, and visionary city planning that resonate with the local context and evolving needs. Today, we unite our global expertise with China’s call for high-quality sustainable development, helping our clients decarbonise their assets with the transformative power of digital technology, towards a net-zero future.

“Throughout the years, Arup has left an indelible mark on Shanghai’s skyline. Today, we are proud to relocate to this landmark engineered by Arup. We will continue to explore innovative solutions and collaborate with local clients and partners to shape a green and prosperous future for Shanghai and beyond.“

– Penny Cheung, Mainland China and Shanghai Office Leader, Arup

Hashtag: #Arup

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

About Arup

Dedicated to sustainable development, Arup is a collective of designers, consultants and experts working globally. Founded to be humane and excellent, we collaborate with our clients and partners using imagination, technology, and rigour to shape a better world.

Establishing our East Asia headquarters in Hong Kong in 1976, we embarked on our mainland China journey in the early 1980s. With offices in Shenzhen, Shanghai, Beijing, Guangzhou, Wuhan, and Chongqing, we have helped deliver some of the most remarkable local landmarks and strategic infrastructure. We are also pioneering the delivery of sustainable buildings and communities, and our advisory roles in ambitious development zones such as Qianhai, Nansha and Hengqin are shaping China’s cities of the future.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

HONG KONG SAR – Media OutReach – 11 September 2023 – Fosun International Limited (HKEX stock code: 00656, “Fosun International” or the “Company”), together with its subsidiaries (“Fosun” or the “Group”), announced its interim results at the end of August, a number of domestic and foreign securities firms and investment banks, including Citibank, UBS Securities, Nomura Orient International Securities, Industrial Securities, Huaxi Securities, and Kaiyuan Securities, have successively published research reports, expressing their bullish views on Fosun International’s strong profitability in core businesses and sufficient liquidity. Many domestic and foreign securities firms and investment banks have assigned the Company a “Buy”/”Overweight” rating. In particular, Citibank, Nomura Orient International Securities, and Industrial Securities have assigned the Company target prices of HK$7.1, HK$7.5, and HK$9.06 respectively, with approximately 45% – 85% upside.

Securities firms and investment banks have recognized Fosun International’s strategy of focusing on its core businesses and concentrating on the development of core businesses where it boasts clear competitive advantages. During the Reporting Period, the Group achieved a total revenue of RMB97.06 billion, representing a year-on-year increase of 10.9%; the key indicator reflecting the Company’s operational capabilities – industrial operation profit reached RMB3.37 billion, representing a year-on-year increase of 5.5%, if excluding the profit of disposed enterprises (including transactions yet to be completed), industrial operation profit surged 66% year-on-year, demonstrating significant improvement in the profitability of core businesses. Domestic and foreign securities firms and investment banks pointed out that benefitting from consumption recovery and relaxation of travel restrictions globally, Fosun’s Happiness segment, especially tourism and consumer businesses, saw a strong recovery after the epidemic. In addition, the profitability of the Health segment, especially Fosun Pharma, improved significantly, reflecting steady growth in Fosun’s core businesses.

Some securities firms and investment banks pointed out that Fosun’s overseas core subsidiaries, empowered by the Group, have achieved remarkable results in global expansion and have become an important driving force for development. Huaxi Securities pointed out that Fosun International’s leading model of “global organization + local operations” has become more mature, with a business presence in more than 35 countries and regions and nearly 40 overseas brand enterprises. In the first half of 2023, the Group’s overseas revenue reached RMB44.09 billion, accounting for 45.4% of total revenue. Citibank pointed out that the international business of Fosun Insurance Portugal’s total gross written premiums (“GWP”) amounted to EUR832 million, a 19.4% increase year-on-year, highlighting the benefits of Fosun Insurance Portugal’s diversification strategy. MyFidelidade App launched by Fosun Insurance Portugal successfully acquired more than 1.4 million registered users (exceeding 13% of Portugal’s total population). Industrial Securities pointed out that Fosun Insurance Portugal’s total GWP for the first half of 2023 were EUR2.65 billion, maintaining its leading position in the Portuguese market with a 30% market share in Portugal; German private bank HAL’s gross income increased by 24% year-on-year to EUR224 million, with total assets reaching EUR13.3 billion, reflecting the strong growth momentum in Fosun’s overseas business thanks to the Group’s empowerment.

Fosun’s robust technology innovation capabilities are also an important core engine that drives the growth of the Company. In the first half of 2023, the Group’s research and development (“R&D”) investment reached approximately RMB4.2 billion. Nomura Orient International Securities believes that led by global expansion and innovation, Fosun is expected to see business recovery. The firm pointed out that Fosun has established strong globalization capabilities and a unique operating model. Through its global business presence, Fosun has closely integrated global resources with global customers. In addition, Fosun has always maintained high investment in R&D to build a global innovation system led by product innovation, digital intelligence innovation, and management innovation, leveraging innovation to create happier lives for families worldwide.

It is worth noting that domestic and foreign securities firms and investment banks unanimously pointed out Fosun continued to optimize its capital and asset structure, put greater efforts in the disposal of non-strategy and non-core assets, and actively explored financing channels, thereby maintaining ample liquidity. During the Reporting Period, cash inflow from divestment amounted to more than RMB20.0 billion at the consolidated level. In January 2023, Fosun High Technology successfully entered into a syndicated loan agreement for an amount of RMB12 billion with eight domestic banks, attesting to the domestic banking institutions’ firm support for the development of private enterprises. As for public-market financing channels, Fosun High Technology issued two super short-term commercial papers of RMB1 billion each in January and July 2023. In the first half of 2023, the Group has navigated through the maturity wall, and redeemed onshore bonds of RMB6.73 billion as well as offshore debt of over USD2.7 billion. As of 30 June 2023, the Group had no material offshore bonds due in one year. The improved credit profile has also been affirmed by the international market. International rating agency S&P Global Ratings recognized Fosun’s effective efforts in terms of debt reduction driven by asset divestment and debt structure optimization and lifted the Group’s rating outlook to “stable”.

Looking ahead to Fosun International’s future performance, domestic and foreign securities firms and investment banks are optimistic about the Company’s accelerated divestment of non-strategy and non-core assets and optimization of capital structure to sharpen its focus on core businesses. A securities firm pointed out that the Company’s results performance is expected to see rapid growth as compared to the full year of 2022. Since major factors affecting the share price have already been reflected, the Company’s current valuation is attractive, thus a number of domestic and foreign securities firms and investment banks have recommended investors to buy the Company’s shares.

Hashtag: #Fosun

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

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HONG KONG SAR – Media OutReach – 11 September 2023 – DETERMINANT — a men’s shirt and apparel brand focused on functional technology, exceptional quality and modern style — proudly unveils its debut Cotton Waterless Dye collection, showcasing a ground breaking innovation that boldly reimagines the textile industry’s reliance on water.

With a vision to set the foundation for a zero-waste future by taking a holistic approach to creating value for people and the planet, 360BETTER is DETERMINANT’s sustainability strategy. 360BETTER buildsbold new standards that redefine the “conscious clothing” industry, and covers five key topics of focus by 2025:

– Championing water stewardship
– Reducing textile waste
– Rethinking packaging
– Extending the life of our clothing
– Empowering social mobility

Their first focus is water conservation and stewardship. With global water scarcity on the rise, DETERMINANT is taking bold actions to revolutionize the fashion industry’s textile-manufacturing practices through innovation and collaboration with ECOHUES. Till now, 65% of all water used in cotton clothing production goes towards the textile dyeing process. The new cotton waterless dyeing technology offers breakthrough features including:

• the use of a green, recyclable organic solvent instead of water as the medium for reactive dyeing, completely displacing the huge amounts of water needed to dye and wash off excess color in traditional water-bath dyeing

• with more than 99% of the green solvents reused and zero hazardous chemical residuals discharged, this technique is safe and environmentally friendly

• the dye utilization rate of reactive dyeing is typically only 60-70%; whereas ECOHUES’ innovation has a dye utilization rate of 97%

• a significant reduction of resources: water consumption (reduced by 100%) and energy consumption (reduced by 39.26%) in the fabric dyeing process.

The debut of the new Cotton Waterless Dye collection is marked with the launch of the “Lead The Wave Forward” campaign, focused on prioritizing water-conservation education. This campaign seeks to raise consumer awareness of fashion’s water footprint, and how conscious wardrobe choices can lower environmental impact. DETERMINANT’s proposition is that consumers shouldn’t need to pay a green premium to make green choices. That’s why the Waterless Dye collection offers the same quality, performance, and design, at the same price as regular products.

The “Lead The Wave Forward” campaign supports its Strategic Charity Partner, A Drop of Life, through a donation drive. Affiliated campaign partners include: Central Market, CITA, Lab Concept, Redress, Sustainable Fashion Business Consortium, Shan Shui Conservation Center, Slowood, Y.L. Yang Foundation.

Hashtag: #DETERMINANT

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

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

Recognition of original inception date of existing policy and simplified underwriting questionnaire make it simple and easier for Shield policyholders to switch plans

SINGAPORE – Media OutReach – 11 September 2023 – Policyholders of Shield Plans^[1] can now switch more easily from their existing plans with other insurers to Prudential Singapore’s (“Prudential”) PRUShield^[2] policies and supplementary plans (riders), through PRUShield EasySwitch (“EasySwitch”).

From 1 September 2023 to 31 December 2023, eligible individuals^[3] will only need to answer three health questions instead of undergoing the underwriting process from scratch and completing the full health questionnaire.

If their application is accepted, the inception date of their existing Shield policy will be recognised for their new PRUShield policy. This means that Prudential will take into consideration the date of inception of the Shield policy with the existing insurer as the policy inception date with Prudential, and all benefits and the claims assessment process will also apply accordingly. It also means that for conditions where waiting periods are usually applicable, such waiting periods will now be waived, subject to the duration of the previous policy.^[4]

There are about 71 per cent (2.9 million lives)^[5] of Singapore residents who are protected by Integrated Shield Plans (IPs) which provide coverage on top of MediShield Life.

Mr Ben Tan, Chief Corporate Development Officer of Prudential Singapore, said: “We introduced PRUShield EasySwitch to make it simple and more convenient for Shield policyholders who want to switch their plans to Prudential. Individuals may wish to do so for reasons such as consolidating their policies under one insurer for convenience or enjoying better benefits. Some people hesitate to switch as they worry about undergoing the full underwriting process again, and others may also find porting their Shield policies to a new insurer to be a complex and time-consuming process. With EasySwitch, they have more peace of mind.”

Additional information
Eligible customers are Singaporeans and Permanent Residents or foreign residents who are:

• 50 years old or below

• with an existing in-force Shield Plan^[6] with any other Integrated Shield Plan (IP) insurer

• able to provide the Cover Start Date and the Certificate of Life Assurance for their existing in-force Shield Plan

• able to fulfil the three health questions

Eligible customers will need to switch their Shield Plans between 1 September 2023 and 31 December 2023, to enjoy the benefits provided through the PRUShield EasySwitch initiative.

For more information on the eligibility and about the PRUShield EasySwitch campaign, please visit PRUShield EasySwitch (please refer to PRUShield EasySwitch’s T&Cs under “Important Information”).

https://sg.linkedin.com/company/prudential-assurance-company-singapore
https://www.facebook.com/PrudentialSingapore/
https://www.instagram.com/prudentialsingapore/?hl=en

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

About PRUShield

PRUShield is Prudential’s Medisave-approved IP which offers comprehensive medical coverage on top of MediShield Life, Singapore’s national health insurance scheme. It offers customers benefits such as minimised out-of-pocket expenses and comprehensive cancer treatment coverage, affordable plans tailored for different budgets, as well as value-added services to improve the overall hospitalisation experience. For more information, please visit: https://www.prudential.com.sg/prushield

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 92 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$49.4 billion funds under management as at 31 December 2022. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,000 financial consultants.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.