Patrick Lai’s Post

Thank you to The Chinese General Chamber of Commerce (CGCC) of Hong Kong and Cyberport Hong Kong for co-hosting the Dialogue for Co-operation: CGCC World Youth Chinese Entrepreneurs Connect in Hong Kong on 11 July at Cyberport Hong Kong. The conference brought together young Chinese entrepreneurs from around the globe to discuss entrepreneurship, innovation, technology, and corporate development. This event aimed to foster collaboration among young Chinese business leaders worldwide, exploring new opportunities for cooperation in the modern era. Conference Highlights: Welcome Remarks: Dr. Jonathan Choi, Chair, The Chinese General Chamber of Commerce Opening Remarks: Mr. Simon Chan, Chair, Cyberport Hong Kong Panel 1: Innovation, Technology, and ESG in Hong Kong Panelists: + Ms. Georgina Chu, Chief Corporate Development Officer, Cyberport Hong Kong + Ms. Jayne Chan, Head of Startups, Invest Hong Kong + Dr. Paul Wang, Director, Techno-Entrepreneurship Core, The University of Hong Kong + Ms. Irene N.Y. Chu, Partner/Head of New Economy, Head of Life Sciences, ESG Reporting Lead (Hong Kong), KPMG China Moderator: Ms. Jennifer Yeung, Chair, The Chinese General Chamber of Commerce Young Executives’ Committee Panel 2: Entrepreneurial Exchange and Collaboration Panelists: + Dr. Charles Hu, PhD, Chief Executive, Ryoden Development Limited (Medical Holdings) + Mr. Leo Zhu china, General Manager, Smart and Digitalization Department, China Resources Enterprises (HK) Co + Mr. Arthur Lam, Co-founder and CEO, Megawatt Utility Limited Mr. San Wong, Founder & CEO, R2C2 Limited Moderator: Mr. Jason Wong, Vice-Chairman, CGCC Young Executives’ Committee Closing Remarks: Mr. Johnny Yu, Vice-Chair, The Chinese General Chamber of Commerce Thank you to all participants for making this conference a resounding success, paving the way for future innovation and collaboration among young entrepreneurs globally. #Growth #Innovation #Transformation #Entrepreneurship #Collaboration #Leadership #Tech #Business #Networking #Ecosystem #ESG #Sustainability I Bank of China (Hong Kong) I SUNWAH I Goldlion I Airport Authority Hong Kong I Hong Kong Tourism Board I Brand Hong Kong l Vincent Lui

‘Failed Singaporean student’ who started Dulwich College International now has 14 schools in 6 countries: https://lnkd.in/gnQ3Khtc Karen Yung's journey from "failed Singaporean student" to co-founder of a global education network embodies the transformative power of education. In 2003, Yung and her then-husband launched Dulwich College Shanghai Pudong, driven by their children's needs. This single school grew into Education in Motion (EIM), now spanning 14 schools across 6 countries. "Some of my peers who knew me back then are really shocked to see where I am now," Yung reflects. Her early academic struggles in Singapore contrast sharply with her later success: "I literally switched off. I would have a stomach ache every day and would fail all my tests." Yung's educational philosophy, shaped by her own experiences, focuses on nurturing individual growth: "You don't have everybody blooming at the same time. It's giving them enough fertiliser at the right time." EIM's schools emphasize well-rounded education, blending academics with arts, sports, and global citizenship. Inspired by her great-grandfather, the first Chinese graduate from an American university - Yale University, Yung is passionate about education's transformative power. The irony of her career isn't lost on Yung: "If anyone told me back then, my 12-year-old self preparing for the PSLE, that I would end up in education when I was hating it so much, I would have rather killed myself." Today, as EIM's Chief Collaboration Officer, Yung's journey from disengaged student to educational innovator embodies the very transformation she seeks to inspire in students worldwide. #Education #Growth #Transformation #Innovation #Purpose #Dulwich #Leadership #Business #Schools #Investment I The Straits Times I SPH Media I Sumiko Tan

The two-day BUSINESS GOVirtual Expo & Conference 2024, held on July 11-12 at the Hong Kong Convention & Exhibition Centre, was a resounding success, featuring inspiring keynote speeches, engaging discussions, successful case studies, interactive workshops, networking opportunities, and live demos of cutting-edge technologies and solutions designed to elevate businesses. Highlights from two of the many enlightening panel discussions: (1) ESG Value-Chain: Trustworthy Data to Financing Moderator: Mr. Yip Plato, Chairman of the Board, Friends of the Earth (HK) Panelists: + Ms. Heidi Ho, Principal Consultant, GS1 Hong Kong + Mr. King Leung, Global Head of Financial Services and Fintech, Invest Hong Kong + Ms. Michelle Leung, CESGA®, Head of Asia Metals and Mining, Sustainability, Bloomberg + Ms. Serena Mak, Executive Director, Sustainable Finance, Institutional Banking Group, DBS Bank (Hong Kong) + Mr. Victor Yim, Head of Fintech, Cyberport Hong Kong (2) Circular Economy - Creating Value Beyond Waste Management Moderator: Ms. Irene N.Y. Chu, Partner, KPMG Panelists: + Mr. Eric Swinton, CEO, V Cycle + Ms. Melanie Kwok, Assistant General Manager (Sustainability), Sino Group + Mr. Ronald Ho, Head of Public Affairs & Sustainability, foodpanda + Mr. Ron C., Chief Strategy Officer, Baguio Green Group Limited A heartfelt thank you to all the moderators, panelists, and participants for their invaluable contributions and insights, which made the conference an unparalleled opportunity for learning, collaboration, and innovation. Financial Services Development Council I Hong Kong Tourism Board I Invest Hong Kong I Hong Kong Retail Technology Industry Association I China Unicom I FPT Software I MUXIC.IO I Votee AI I Omnichat I Electronic Identity Display Ltd I South China Morning Post SCMP I WeWork Greater China I SingCham HK I The British Chamber of Commerce in Hong Kong I ASTRI - Hong Kong Applied Science and Technology Research Institute I Brand Hong Kong I Hong Kong Convention and Exhibition Centre (Management) Limited I #Business #Networking #Innovation #Transformation #AI #Tech #Collaboration #ESG #Sustainability

A heartfelt thank you to the Wealth & InvestTech x GreenTech & ESG Committee of the FinTech Association of Hong Kong (FTAHK) for co-hosting the engaging and insightful event "Data to Action: How Can Technology Help Advance ESG Investing & Tackle Greenwashing?" on 12 July at the HSBC Building in Hong Kong. This event delved into the latest ESG market developments and highlighted how technology can propel ESG investing and addressing greenwashing. The panelists offered invaluable insights and fostered meaningful business connections: Panelists: + Shannon Li, APAC Market Development Head – Sustainable Finance & Investment, LSEG (London Stock Exchange Group) + Jasmine Ling, Head of Sustainable Finance, Asia Commercial Banking, HSBC + Elsa Pau, Founder and CEO, BlueOnion Moderator: Benson Wong, Co-Chair, FTAHK Wealth & InvestTech, Head of Digital Products and Channel, JPMorganChase. Special thanks to Steffanie Yuen, Co-Chair, FTAHK Wealth & InvestTech, Managing Director, Head of Hong Kong at Endowus, for her inspiring opening remarks. #Sustainability #SustainableInvesting #ESG #Compliance #Disclosure #Greenwashing #FinTech #HongKong I FSB Task Force on Climate-related Financial Disclosures (TCFD) I International Sustainability Standards Board (ISSB) I Global Reporting Initiative (GRI) I 100 Women In Finance I Brand Hong Kong

SINGAPORE’S economy grew 2.9% year-on-year in Q2 2024, just below the revised 3.0% in Q1, according to the Ministry of Trade and Industry (Singapore) (MTI) on July 12. Seasonally adjusted quarterly GDP rose by 0.4%, up from 0.3% in Q1. Year-on-year growth exceeded economists' expectations of 2.7%, while quarter-on-quarter growth met forecasts. Manufacturing grew 0.5% year-on-year, reversing a 1.7% decline in Q1. The sector saw output expansions across all clusters except biomedical and precision engineering. Sequentially, manufacturing rose 0.6%, recovering from a 5.3% decline. Construction grew 4.3% year-on-year, up from 4.1% in Q1, supported by increased public sector output. The sector expanded 2.4% quarter-on-quarter, reversing a 1.9% contraction. Services growth slowed to 3.3% year-on-year from 4.3% in Q1, with sequential growth flat compared to the previous quarter's 2.2%. #Growth #GDP #Economy #Investment #Business #Singapore I The Business Times I SPH Media I Elysia Tan

Raffles Family Office has appointed Terence Chow, former wealth management chief executive at the Royal Bank of Canada (RBC) as its group chief operating officer (COO), effective July 2. Based in Hong Kong, Chow will report to group chief and co-founder Chi-man Kwan. Chow, with over 20 years in financial services and an MBA from the Ivey Business School at Western University, will oversee business transformation, management, risk management, and corporate real estate and procurement. He will also lead operations, technology, and innovation on the board of management. "Terence’s experience is an invaluable asset in building a robust wealth management business," said Kwan. "His track record in business transformation and operational excellence will be essential as we expand and enhance our services." #Growth #Transformation #Business #FamilyOffice #WealthManagement #Ecosystem #Tech l The Business Times l SPH Media l Michelle Zhu

Rising Wealth and Inequality in Singapore “Average wealth among adults in Singapore has steadily increased since the 2008 global financial crisis," but wealth inequality has also risen, surpassing Hong Kong, Indonesia, and South Korea, according to the UBS Wealth Report 2024. “Singapore’s Gini coefficient – a measure of inequality – rose 22.9 per cent since 2008 to 70 in 2023," compared to Indonesia's increase to 68, Hong Kong's drop to 63, and South Korea's fall to 57. Average wealth per adult in Singapore rose by over 116 per cent since 2008, while median wealth fell by 2 per cent. “This suggests higher wealth brackets have boomed while lower brackets have stagnated," the report noted. Wealth Distribution and Global Context Singapore ranks eighth in average wealth but 18th in median wealth among 56 markets. “Inequality must be combined with absolute wealth levels to paint a comprehensive picture," the report said. In 2023, global wealth grew by 4.2 per cent, reversing a 3 per cent contraction in 2022. In Singapore, average wealth per adult grew by 3.8 per cent, but less than 2 per cent in local currency. “The pace of global wealth growth has slowed," from 7 per cent annually between 2000 and 2010 to just over 4.5 per cent since 2010. Regional Trends and Future Outlook Wealth in the Asia-Pacific region grew by nearly 177 per cent since 2008, with debt rising 192 per cent. “Emerging economies often experience rapid credit growth as their financial systems develop,"the report noted, expecting debt levels to stabilize as economies mature. UBS predicts continued wealth growth in most markets by 2030. “The chance of escaping the lowest wealth bracket is over 60 per cent," with a one-in-three chance of moving up two or more brackets. In Singapore, the number of millionaires is expected to increase by 13 per cent to 375,725 by 2028. #Wealth #Growth #UBS #Business #Investment #Singapore

A heartfelt thank you to The Chinese General Chamber of Commerce for hosting the World Chinese Entrepreneurs Summit on 10 July at the Hong Kong Convention and Exhibition Centre (Management) Limited. The summit serves as a platform to discuss the needs and the latest developments of the RCEP member states on finance, innovative technologies and professional services, and to explore how to leverage Hong Kong's unique advantages under regional cooperation to secure RCEP business opportunities. Summit Highlights: Welcome Remarks Dr. Jonathan Choi - Chairman, The Chinese General Chamber of Commerce Keynote Speech Mr. John Lee - Chief Executive, The Hong Kong Special Administrative Region H.E. Dr. Kao Kim Hourn - Secretary-General, The ASEAN Secretariat Panel Session 1: Leveraging Hong Kong’s Financial Services to Tap into RCEP Market Opportunities Moderator: - Prof. KC Chan, Chairman of WeLab Bank, Senior Advisor of WeLab Speakers: - Mr. Christopher Hui, Secretary for Financial Services and the Treasury, The HKSAR Government - H.E. Dr. Sar Saroeun, Deputy Secretary General of the Cambodian Investment Board, Council for the Development of Cambodia - Mr. Wilfred Yiu, Deputy Chief Executive Officer, Hong Kong Exchanges and Clearing Limited (HKEX) - Dr. Ma Jun, Chairman and President of Hong Kong Green Finance Association (HKGFA) - Mdm. Li Tong, Deputy Chief Executive of Bank of China (Hong Kong) Panel Session 2: Market Development of the RCEP and Opportunities for Hong Kong Professional Services Moderator: - Dr. Thomas S.T. So, Chairman of eBRAM International Online Dispute Resolution Centre Limited. Speakers: - Mr. Algernon Yau, Secretary for Commerce and Economic Development, The HKSAR Government - Ms. Teresa Cheng, Founder and Co-Chairman of Asian Academy of International Law - Mr. C.M. Chan, Immediate Past President of The Law Society of Hong Kong - Ms. Natalie Chan, MAoF FCCA CFA Banking & Capital Markets Leader (Hong Kong), Deloitte Touche Tohmatsu - Mr. Antony Chan, Vice President of the Federation of Filipino-Chinese Panel Session 3: How the RCEP Can Drive the Momentum of Hong Kong’s Innovation and Technology Moderator: - Mr. Hendrick Sin, Co-Founder and Vice-Chairman of CMGE Technology Group Speakers: - Ms. Lillian Cheong, Under Secretary for Innovation, Technology and Industry, The HKSAR Government - Mr. Yang Qiuhua, Chairman of Shanghai Pharmaceutical Holding Co., Ltd. - Mr. Levi Nguyen - MBA, PMP, ITIL, Agile, CCDP, MCSE, Chief Executive Officer, FPT Software Greater Bay Indochina - Mr. Jeungbin Kim, Founder and CEO of SuperBin Co., Ltd. #Growth #Innovation #Transformation #Entrepreneurship #Collaboration #Leadership #Tech #Business #Networking #Ecosystem

Thank you to LITE Lab HKU and the Asia-Pacific Legal Innovation & Technology Association (ALITA) for hosting the talk on Vox PopulAI: Learnings from Ashurst’s Exploration of Generative AI on 9 July at the The University of Hong Kong campus. Special thanks to Tara L. Waters (Ashurst's Chief Digital Officer) and Sarah Chambers (Ashurst's Director of Digital Experience) for sharing insights from their GenAI trials, rollout, and applications at Ashurst. The event concluded with an engaging panel discussion featuring Tara, Sarah, and Hoi Tak Leung (Digital Economy Counsel and Asia Lead of Ashurst Advance), moderated by Brian W Tang. Thank you for the invite, Brian W Tang. #AI #GenAI #Growth #Legal #Tech #Ecosystem

Temasek reported a one-year total shareholder return (TSR) of 1.6% for the financial year ending March 31, reversing the previous year's negative performance. Released on July 9, the annual Temasek Review highlighted a 10-year TSR of 6% and a 20-year TSR decrease from 9% to 7%. Deputy CEO Chia Song Hwee emphasized a long-term investment focus. Temasek’s net portfolio value (NPV) rose to S$389 billion, increasing to S$420 billion after marking its unlisted portfolio to market. The US remains the top investment destination, followed by India, Europe, and Japan. Head of financial services Connie Chan noted the impact of market volatility on TSR. Chia stressed the importance of underlying asset performance for future returns. Temasek’s refined mark-to-market methodology for unlisted assets, aligning with peers, resulted in a S$31 billion value uplift, bringing the NPV to S$420 billion. Despite China’s market challenges, Temasek’s 20-year TSR of 7% outperformed MSCI China’s 5%. Economists remain cautiously optimistic about Temasek’s future, highlighting potential volatility but affirming confidence in the long-term stability of the 20-year TSR. #Temasek #Growth #Returns #Investment #Business l The Business Times l SPH Media l Navene Elangovan