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Maybank’s Insurance Arm, Etiqa Insurance, Pioneers the Return of Takaful Offerings in Singapore
New Shariah-compliant investment-linked product addresses the needs of customers looking for values-based insurance solutions; further strengthening the Group’s Islamic Wealth Management offerings
SINGAPORE – Media OutReach Newswire – 6 January 2025 – Maybank’s insurance arm, Etiqa Insurance Singapore (Etiqa), today jointly announced the launch of Invest future, Singapore’s first Takaful offering in over a decade, with Maybank Singapore (Maybank) as its exclusive distributor.
Invest future is designed to cater to the growing demand for Islamic financial solutions in Singapore. This investment-linked plan (ILP) is designed to support sustainable wealth accumulation goals through Shariah-compliant investing, tailored for the growing demographic seeking ethical investment options while offering flexibility and protection.
Mr Alvin Lee, Maybank Singapore Country CEO said, “Values-based financial solutions such as Etiqa’s Takaful ILP, is an integral component of Islamic Wealth Management (IWM) offerings based on Shariah principles. Maybank, as the regional offshore IWM hub for Maybank Group in Singapore, is the first Bank here to provide end-to-end values-based financial solutions. And as the exclusive distributor of Etiqa’s Takaful offering – a first in Singapore, we are very pleased to mark another milestone in scaling our capabilities with a comprehensive suite of solutions aligned to the five IWM pillars for customers through their different life stages. This is our ongoing commitment to meet evolving customers’ needs while upholding their values and ethical considerations.”
“We are excited to lead the way in launching Takaful ILP as our inaugural Takaful product in Singapore, recognising that ethical investing is increasingly gaining traction among Singaporeans,” said Raymond Ong, CEO of Etiqa Insurance Singapore. “”Our Takaful ILP promotes Shariah values of mutual cooperation and purposeful investing. By introducing values-based insurance that targets all sectors of the community, we aim to provide ethically crafted, holistic life journey solutions that all customers can trust. We believe that by aligning our products with strong ethical principles, we can create lasting value for our customers and contribute positively to society.”
By extending its insurance solutions with this new product offering, Etiqa Insurance Singapore hopes to offer financial solutions that adhere to the principles of cooperation, fairness, and shared responsibility.
Committing to customers as a priority with values-based insurance
Etiqa Insurance Singapore’s launch of the new values-based insurance is part of the company’s ethos to make insurance accessible, keeping customers’ interests and needs as the core foundation of its product and service offerings.
Unlike traditional insurance plans, which focus solely on financial protection, values-based insurance encompasses a broader perspective of protection that covers the ethical, social and personal concerns of customers. This emerging product offering resonates with the diverse needs and aspirations of policyholders while managing risks, enabling individuals to connect more deeply with their values.
The benefits of values-based insurance include:
- Risk Sharing: Policyholders of a values-based insurance product share the financial risks collectively, leading to a sense of community and shared responsibility among policyholders.
- Purposeful: Values-based insurance plans are aimed at sustaining protection for a group of individuals, rather than maximising profit.
- Transparency: Values-based insurance products offer a more transparent approach in terms of what the policy is invested in, how the funds are paid out, and underwriting profits, if any through stringent reviews by the Shariah advisors to ensure fairness to customers.
Maybank Singapore is the exclusive distributor of Etiqa’s Invest future solution in Singapore.
Note to Editors
About the five IWM pillars:
- Wealth Creation: Creates wealth through Shariah-compliant banking, savings and financial products in line with Islamic principles. It seeks to achieve sustainable and ethical growth over time.
- Wealth Accumulation: Generates and accumulates wealth through Shariah-compliant investment products, and is focused on values-based investing principles.
- Wealth Preservation: Protects the accumulated wealth as aligned with Islamic principles through risk management and Takaful (Islamic insurance).
- Wealth Purification: Purifies wealth through the concept of zakat. Zakat is the giving of alms to the less fortunate, and it is obligatory upon every Muslim who meets the requirements to pay zakat.
- Wealth Distribution: Distributes wealth for future generations, which involves the transfer of wealth or assets through will writing (wasiat), endowment (wakaf) and gift (hibah).
Takaful
Takaful is based on Shariah or Islamic religious law where protection is offered on the Islamic concept of mutual help. Although Takaful must operate according to Islamic cooperative principles, it is not limited to the Muslim community, as anyone who upholds personal ethical and social principles can purchase a Takaful plan for protection needs and objectives.
Invest future
Invest future is Etiqa Insurance Singapore’s first Takaful values-based ILP, designed for those seeking ethical investing aligned with Shariah principles. It is a values-based insurance product designed to combine wealth accumulation with life protection, offering flexible investment options, access to Shariah-compliant funds, and enhanced returns through multiple bonuses. Invest future is certified Shariah compliant by the Financial Shariah Advisory and Consultancy (FSAC) of Singapore Islamic Scholars & Religious Teachers Association (Pergas).
Key benefits of Invest future include:
- Investment bonuses, including start-up bonus up to 80% of first-year premiums, special bonus at 5% of regular premiums from the 6th policy year, and loyalty bonus at 0.2% of account value annually post premium payment term.
- Access to Shariah-compliant funds with investments from as low as S$200 per month with access to reputable, Shariah-compliant regional and global funds.
- Flexible plan options allow for two free partial withdrawals from the 4th policy year, plus options for premium adjustments, top-ups, premium-free periods, and free fund switching.
- Comprehensive coverage includes death and total permanent disability benefits up to 105% of net premiums or account value.
- Legacy and giving options enable policyholders to pledge benefits as a legacy gift to loved ones or *wakaf to charitable organisations (*wakaf is a voluntary charitable endowment from one’s personal belongings or wealth in the form of cash or property for pious and religious causes).
- Guaranteed issuance policy, no health checks needed.
- Option to add on rider for additional coverage subject to underwriting.
To learn more about Invest future, please visit: www.etiqa.com.sg/personal/investments/invest-future
Hashtag: #EtiqaSingapore
The issuer is solely responsible for the content of this announcement.
Maybank Singapore
Maybank is the fourth largest financial institution group in ASEAN by assets. It has been ranked the Best Bank in Asia Pacific and Singapore by The Banker in 2023; and the number one domestic bank in Malaysia for trade finance, according to the Euromoney Trade Finance survey in 2024.
Maybank Singapore is one of the Group’s largest overseas operations and a Qualifying Full Bank in Singapore. As at 31 December 2023, Maybank’s total assets in Singapore were approximately S$80.26 billion. With strategically located banking branches and over 2,000 employees in Singapore, Maybank is well-positioned to provide highly personalised services and locally-oriented solutions that will deliver more value to customers.
Etiqa Insurance Pte. Ltd. (Etiqa Insurance Singapore)
Protecting customers since 1961, Etiqa Insurance Singapore is a licensed life and general insurance company regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act 1966. The local insurer is the Singapore operating entity of Etiqa Insurance Group – a leading insurance and Takaful business in ASEAN offering life and general insurance and family and general Takaful products through its agents, branches, offices and bancassurance network in the region. Etiqa Insurance Singapore is rated ‘A’ by credit rating agency Fitch for the group’s ‘Favorable’ business profile and ‘Very Strong’ capitalisation.
Etiqa Insurance Singapore is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group with footprints across 16 countries and a heritage that spans over 190 years.
Media OutReach
Divineway Fengshui Announces the Launch of Master Louis Cheung’s Book on Taoist Divine Magic
Offline Book Launch Event
Date: 12 January 2025 (Sunday)
Time: 3pm to 6pm
Venue: Divineway Fengshui Gallery, 374 Joo Chiat Road, Singapore 427619
Online Book Launch Webinar
Date: 19 January 2025 (Sunday)
Time: 2pm to 3:30pm
Platform: Facebook (Details to be announced)
About the Book
An Introduction to Divine Magic explores Liu Ren Divine Magic, a Taoist tradition. The book provides a detailed overview of its principles and practices, presenting them in a manner accessible to a wide audience. Key features include:
- A comprehensive explanation of Divine Magic and its role in achieving balance and harmony.
- Practical guidance for integrating these principles into daily life.
- Clarifications on common misconceptions related to Taoist rituals.
With its engaging and informative content, the book is a informative resource for readers seeking to enhance their understanding of Taoist practices. By delving into the roots of Liu Ren Divine Magic, it bridges the ancient and modern worlds, offering practical applications for today’s challenges.
The book is available at Divineway Fengshui Gallery and will be distributed through major bookshops and online platforms, priced at S$27.00 (excluding GST). It can also be purchased at Kinokuniya, Popular, and Amazon.
Hashtag: #book #fengshui
https://divineway.com/
https://www.linkedin.com/company/divineway-fengshui/
https://www.facebook.com/divinewayinc
https://www.instagram.com/divinewayinc
https://www.tiktok.com/@divinewayfengshui
The issuer is solely responsible for the content of this announcement.
About Divineway Fengshui
Founded in 2004 by Master Louis Cheung, Divineway Fengshui provides services rooted in traditional Chinese and Taoist principles, including Bazi readings, Feng Shui audits, and Taoist rituals. The organisation emphasises the importance of understanding ancient practices while adapting them to contemporary contexts.
Divineway Fengshui has gradually expanded its offerings to cater to a wider range of needs, aiming to make these traditional methods relevant and practical in today’s world. The focus remains on supporting individuals and families in creating harmonious and balanced environments.
Quotes
“Through this book, I aim to provide an introduction to Divine Magic and its relevance to personal and spiritual growth” says Master Louis Cheung. “It reflects my engagement with Taoist traditions and their application to everyday life”.
Master Louis Cheung explores Liu Ren Divine Magic with a focus on clarity and accessibility. His work offers readers an opportunity to deepen their understanding of this ancient art within a modern framework.
Media OutReach
Prince Foundation Partners Again with NTU PEAK ASEAN Program to Address Development Challenges
The students, participating in the NTU PEAK ASEAN Program, conducted field research and developed solutions for two main challenges: improving education access in underserved areas and creating mentorship programs for young entrepreneurs.
The NTU PEAK ASEAN program is designed to develop leadership and problem-solving skills among its students through experiential learning in host countries in Southeast Asia and beyond. Participants create solutions for socio-economic issues while collaborating with local organizations.
“Education is the cornerstone of sustainable development and transformative change,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group and Head of Prince Foundation. “By collaborating with NTU students, we are bridging nations and generations to tackle pressing challenges.”
The foundation, which serves as the philanthropic arm of Prince Holding Group, one of Cambodia’s leading business groups, provided mentors to help students develop recommendations based on local needs while incorporating regional best practices.
Desmond Woo, Deputy Director of NTU Singapore’s Career and Attachment Office, said the Foundation gave students valuable experience addressing real-world problems.
“The Foundation’s guidance and resources have been instrumental in equipping students to deliver innovative, practical solutions that align with Cambodia’s aspirations for growth and development,” Woo said.
The program aligns with the Cambodian government’s development goals and reflects Prince Foundation’s focus on education, healthcare and community service initiatives.
This marks the second time Prince Foundation has hosted the NTU PEAK ASEAN Program in Cambodia, with the first time in 2022.
Hashtag: #PrinceFoundation #NTU #Education
The issuer is solely responsible for the content of this announcement.
About Prince Foundation
Prince Foundation, founded in 2015, is one of Cambodia’s leading philanthropic foundations. A member of Prince Holding Group, one of the largest business groups in Cambodia, the Foundation works with local communities to build thriving living and working environments that elevate people’s well-being and livelihoods, guided by the vision: “Together, Building a Better Future for Cambodia.”
Focusing on education and youth development, healthcare, and community engagement initiatives, Prince Foundation collaborates with partners to deliver sustainable programs that create opportunities for Cambodia’s youth, build community resilience, and contribute to sustainable infrastructure.
The Foundation’s flagship projects include the Chen Zhi Scholarship, which offers full scholarships, stipends, internships, and job opportunities to 400 Cambodian university students over seven years, and Prince Horology, a state-of-the-art facility where aspiring Cambodian watchmakers learn the art of Swiss-style watchmaking. Since its inception, Prince Foundation has launched more than 250 philanthropic initiatives, benefiting over 1.5 million people and providing donations exceeding US$17 million.
A Clinically-Proven Solution for Better Sleep Amid Rising Insomnia Rates in Hong Kong
HONG KONG SAR – Media OutReach Newswire – 8 January 2025 – Chemill Pharma Ltd., an innovative health technologies company, is proud to announce the launch of SnoozZ, a unique fast-acting sleep formula designed to address growing problem of poor sleep. With a commitment to providing effective healthcare solutions, Chemill Pharma aims to help individuals overcome the growing issue of sleep disturbances in Hong Kong and across Asia.
Recent survey indicates that approximately **74% of Hong Kong residents report poor sleep quality, with **39.4% experiencing insomnia. Factors contributing to this alarming trend include high levels of stress, long working hours, and lifestyle choices such as excessive screen time and irregular sleep patterns. Women are particularly affected, often reporting poorer sleep quality than men. The impact of these sleep issues extends beyond individual well-being, contributing to broader public health concerns such as anxiety and depression.
SnoozZ is formulated with clinically proven ingredients (Melatonin 5 mg & Chamomile 35 mg) that promote relaxation and support restful sleep. The patented OD-EffTabs technology behind SnoozZ ensures quick onset, allowing users to drift into a peaceful slumber within 30 minutes of consumption. This innovative product is not only safe and effective but also non-addictive and sugar-free, making it suitable for a wide range of consumers.
“As we continue to face lifestyle-related health challenges, our commitment at Chemill Pharma is to develop innovative solutions that positively impact quality of life. The quality of our sleep directly impacts the quality of our life and performance in all areas” said Ray Tejsinghani, CEO of Chemill Pharma Ltd. “With the launch of SnoozZ, we are excited to offer a product that addresses the critical need for better sleep in our communities.”
SnoozZ is designed for anyone struggling with sleeplessness, whether due to work stress, travel disruptions, or busy lifestyles. Its travel-friendly packaging makes it easy to carry and use anytime, anywhere.
SnoozZ is now exclusively available in Hong Kong through our partnership with Mannings, the leading retailer for health and beauty products. You can find SnoozZ at Mannings’ physical stores and online, as well as on Chemill Pharma’s own online platform. For business inquiries regarding other markets, please contact us directly at [email protected].
Chemill Pharma Ltd. remains dedicated to advancing healthcare through innovative products that empower individuals to lead healthier lives. With the introduction of SnoozZ, the company reinforces its mission to provide affordable and effective health solutions tailored to the needs of modern society.
**For more information about SnoozZ and other innovative health technologies from Chemill Pharma Ltd., please visit www.snoozz.net
Hashtag: #ChemillPharma #Snoozz #insomnia #sleepaidssupplement #troublesleeping #OD-Efftabs #healthysleep #sleepless #goodsleepquality #healthysleepinghabits #melatonin #chamomile #patentedOD-EffTabs #reducestress #improvesleepquality
https://snoozz.net/
https://www.facebook.com/snoozzhk
https://www.instagram.com/p/DEFJ8wZOB9y/
The issuer is solely responsible for the content of this announcement.
Chemill Pharma (HK) Ltd
Chemill Pharma Ltd. is a pharmaceutical company committed to enhancing quality of life by developing innovative healthcare solutions for social and lifestyle issues. With a focus on affordability and accessibility, Chemill strives to meet the evolving health needs of communities worldwide.
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