Baiduri Prestige: Redefining financial and lifestyle excellence

Advertorial

October 5, 2024

In today’s increasingly complex financial landscape, clients expect more than traditional banking services. They seek a seamless integration of wealth management and lifestyle benefits that can cater to their evolving needs. Baiduri Bank’s Prestige programme, designed for affluent individuals seeking premium financial solutions, delivers a tailored suite of offerings that meets these expectations with precision and expertise.

Comprehensive wealth solutions

At the heart of Baiduri Prestige is its wealth management and financial services. Members benefit from personalised guidance provided by dedicated relationship managers, who help navigate a wide range of investment options, including unit trusts, equities, and bonds. These options are aligned with individual risk appetites and long-term financial goals. With preferential rates on a broad range of financial products, Baiduri Prestige ensures that members not only grow their wealth but also enjoy the cost-efficiencies of banking services.

“Our vision with Baiduri Prestige is to create an ecosystem that goes beyond mere transactions,” says Lim Kian Chiong, Head of Retail Banking at Baiduri Bank.

“In today’s fast-moving world, it’s crucial that we offer more than traditional wealth management. We combine tailored financial solutions with exclusive lifestyle privileges, so our clients not only plan and grow their wealth but do so in a way that aligns with their personal and family goals. We are committed to providing a service that evolves with the needs of our clients, ensuring they remain at the forefront of opportunity, no matter where life takes them.”

The programme offers access to a dedicated team of relationship managers who provide advice on investment strategies. Clients are personally guided through portfolio reviews to ensure their financial roadmap remains on course, supported by market insights from Baiduri Bank’s team of experts.

Exclusive lifestyle privileges

Complementing the financial advantages are a host of exclusive lifestyle benefits that set Baiduri Prestige apart. Members enjoy privileged access to Baiduri Prestige Centres, where dedicated spaces are designed to offer both privacy and personalised service. Whether for a financial consultation or simply a moment of relaxation, the centres exemplify the hospitality and attention to detail that Prestige members have come to expect.

Additionally, Prestige members enjoy global benefits such as Visa Concierge, offering 24/7 assistance for travel bookings, dining reservations, and exclusive access to events. Other highlights include preferential rates on foreign exchange and remittance services, along with a higher daily cash withdrawal limit of BND5,000 at Baiduri ATMs. These privileges enhance the everyday experience of Prestige membership, making it both rewarding and convenient.

Recent enhancements to the programme also include a comprehensive card package, where Prestige members receive the Baiduri Prestige Mastercard World Debit Card and a choice between the Baiduri Prestige Visa Infinite Credit Card, the and the Royal Brunei (RB) Visa Infinite Credit Card, or both—all with a perpetual annual fee waiver. These cards serve as recognisable identifiers of Prestige membership, unlocking exclusive privileges such as complimentary travel insurance and access to airport lounges worldwide. The RB Visa Infinite Credit Card offers members 15 Royal Skies miles for every BND10 spent at Royal Brunei Airlines, 8 miles for every BND10 spent on other purchases, and an additional 7kg baggage allowance when flying with Royal Brunei Airlines.

The family legacy

Baiduri Prestige extends its privileges to family members through the Prestige Family feature. Up to four nominated family members can enjoy a range of financial and lifestyle benefits, including access to dedicated relationship managers and exclusive services. This extension reflects Baiduri Bank’s commitment to fostering financial security and enjoyment across generations, ensuring that family members are well-supported in their own wealth journeys.

“What truly sets Baiduri Prestige apart is our relationship with our clients,” says Dolienna Brahim, Prestige Team Manager. “Through the Prestige Family feature, up to four nominated family members can also access the same dedicated relationship managers and enjoy a wide range of exclusive benefits, including supplementary cards with perpetual fee waivers, preferential loan rates, and personalised banking services, ensuring financial security and privilege across generations.”

A lasting commitment to excellence

Baiduri Prestige has recently undergone a brand refresh, unveiling a sleek and contemporary new look. This bold update reflects Baiduri Bank’s continuous drive for innovation and excellence, aligning the brand’s identity with the premium services it offers. The enhanced visual identity serves as a reminder that Baiduri Prestige is at the forefront of premium banking, offering clients a service that is as sophisticated as it is practical. “The new branding is more than just a visual transformation—it marks our renewed focus on delivering a refined banking experience that combines premium features with functionality,” shares Lim Kian Chiong.

As Baiduri Bank continues to uplift its Prestige programme, the focus remains on delivering comprehensive services that support both the financial and personal aspirations of its members, with an emphasis on innovation and client-focused solutions.

Samsung begins mass production of SSDs for AI computers

Business

October 5, 2024

A woman checks her phone while passing by a billboard advertising a Samsung smartphone in Berlin. PHOTO: AFP

SEOUL (BERNAMA) – Samsung Electronics Co said yesterday it has begun mass production of its latest industry-leading solid-state drive (SSD) product optimal for usage in powerful artificial intelligence (AI) personal computers.

Samsung said the PM9E1 SSD, which boasts the industry’s highest performance and largest capacity, is built on its in-house 5-nanometre-based controller and eighth-generation V-NAND technology. Yonhap news agency reported the company said the PM9E1 will provide powerful performance and enhanced power efficiency, making it an optimal solution for on-device AI PCs.

Key attributes have all been improved compared with its predecessor.

Starting with the PM9E1, Samsung plans to expand its advanced SSD offerings to global PC makers and expects to launch consumer products based on the product in the future to solidify its market leadership.

“Our PM9E1 integrated with a 5nm controller delivers industry-leading power efficiency and utmost performance validated by our key partners,” said Samsung’s Executive Vice President of Memory Product Planning Bae Yong-cheol.

Singapore’s retail sales increase in August

Business

October 5, 2024

SINGAPORE (XINHUA) – Retail sales in Singapore rose 0.6 per cent year-on-year in August, following the one-per-cent growth in July, the Department of Statistics said yesterday.

Motor vehicle sales grew 17 per cent in August from a year earlier. Excluding motor vehicles, retail sales fell 1.5 per cent.

Vietnam earns USD7.16B from fishery exports in nine months

Business

October 5, 2024

HANOI (XINHUA) – Vietnam exported USD7.16 billion worth of fishery products from January to September, up 8.5 per cent year-on-year, local media cited the Vietnam Association of Seafood Exporters and Producers.

Shrimp reported the highest export value with USD2.8 billion, up 10.5 per cent year-on-year while tra fish exports rose eight per cent to USD1.46 billion during the cited period.

Tuna export, which was strong earlier in the year, has slowed since August.

Indonesia’s Kendal solar panel plant to begin operations by 2024 end

Business

October 5, 2024

JAKARTA (XINHUA) – The construction of a solar panel plant in Kendal, Central Java, has reached 90 per cent completion, and operations are expected to begin by the end of 2024, with a first-phase production capacity of one-gigawatt peak.

The solar panel plant is being developed by PT Daya Sukses Makmur Selaras, a subsidiary of Sinar Mas Group, with an investment of over USD100 million.

“This factory development aims to support the government’s target of 178 gigawatts of installed solar panels by 2060,” said Secretary of the national energy council Djoko Siswanto on Thursday.

Managing Director of Sinar Mas Ferry Salman added that the factory’s capacity will be increased further over the next two years, with a peak of three gigawatts.

The Indonesian government recently established the Indonesia Solar Energy Research Centre to promote the development of solar technology and human resources, while simultaneously expediting plans to export power to Singapore.

The research institute is a collaboration between the Indonesian Engineers Association, the National Research and Innovation Agency, the Bandung Institute of Technology, the University of Indonesia, Gadjah Mada University, the Institute of Technology Indonesia and the Solar Energy Research Institute of Singapore.

In September, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan stated that Indonesia will export electricity to Singapore from a solar power plant with a capacity of 3.4 gigawatts. This agreement has an investment value of USD20 billion.

Philippine inflation rate falls to 1.9pc in September

Business

October 5, 2024

MANILA (XINHUA) – The Philippines’ annual inflation rate eased to a four-year low of 1.9 per cent in September from 3.3 per cent in August, marking the lowest level since May 2020, the Philippine Statistics Authority (PSA) said yesterday.

“This is the lowest inflation rate since the 1.6 per cent rate recorded in May 2020,” PSA Chief Dennis Mapa told a news conference.

Mapa said the main drivers of the downward trend of headline inflation in September were food and non-alcoholic beverages, which fell to 1.4 per cent from 3.9 per cent in August.

Mapa added that transport also contributed to the downtrend, with a faster year-on-year decrease of 2.4 per cent during the month compared to a 0.2 per cent annual drop in August. The PSA chief said the core inflation, which excludes selected food and energy items, slowed to 2.4 per cent in September from 2.6 per cent in August. In September 2023, core inflation was higher at 5.9 per cent.

The decline in the September inflation rate brings the national average inflation from January to September to 3.4 per cent, within the government’s target range of two per cent to four per cent. In September 2023, the inflation rate was higher at 6.1 per cent.

National Economic and Development Authority Secretary Arsenio Balisacan said the continued slowdown in inflation “is expected to boost consumer confidence, drive higher spending and consumption, and fuel business expansion”.

Vietnam’s coffee exports in nine months exceed last year’s

Business

October 5, 2024

HANOI (XINHUA) – Vietnam’s coffee exports brought home nearly USD4.4 billion in the first nine months of this year, exceeding the turnover of the whole 2023, VnExpress reported yesterday, citing the Ministry of Agriculture and Rural Development.

The nine-month figure went up 40 per cent compared to the same period last year thanks to high prices of exported coffee.

Vietnam’s exported coffee was sold averagely at the all-time high of USD5,469 per tonne in September.

From January to September, the price was reported at USD3,897 per tonne, an increase of 56 per cent year-on-year.

Among Vietnam’s main export items, coffee has emerged as the agricultural product with the biggest increase in export prices, said the report.

According to the Vietnam Coffee and Cocoa Association, the Southeast Asian country is predicted to face numerous challenges in the 2024-2025 crop due to unfavourable weather conditions. Coffee output is expected to decrease by five-15 per cent.

The ministry still forecasts that coffee export turnover this year will exceed USD5 billion, even USD6 billion thanks to high prices.

Finally beaten Madrid aiming for Villarreal rebound in La Liga

Sports

October 5, 2024

Real Madrid’s Italian coach Carlo Ancelotti looks on during a training session. PHOTO: AFP

BARCELONA (AFP) – Reigning Spanish and European champions Real Madrid have started the season below their brilliant best and this week finally tumbled to a first defeat since January.

Carlo Ancelotti’s side were beaten at Lille in the Champions League on Wednesday and trail Hansi Flick’s Barcelona by three points in La Liga.

Madrid host Villarreal today aiming to pull level on points with their Catalan rivals at the top of the table for the first time this season.

Los Blancos began the campaign with a draw at Mallorca on the first day of the season and have been playing catch-up since then.

Barca won their first seven matches in a row but finally stumbled last weekend at Osasuna.

Madrid could not take full advantage as they were held to a 1-1 draw by neighbours Atletico Madrid, but can put pressure on Barca, who visit Alaves tomorrow, with a victory at the Santiago Bernabeu.

To achieve that against an enterprising Villarreal side just a point behind Madrid in third, they will have to raise their game significantly.

Madrid came undone in the north of France, suffering their first loss in 37 matches across all competitions.

“When we lost the derby (against Atletico) last year it was a fantastic wake-up call and hopefully this defeat can also be a fantastic wake-up call,” said Ancelotti.

“We did everything wrong – with the ball, transitions, the intensity, we lost the duels… we have to look at things with a cool head and not throw everything away, but we have to improve.”

Madrid were able to bring on Kylian Mbappe against Lille after a thigh injury and the French striker could start against Villarreal.

As strong as the Yellow Submarine have been, spearheaded by Spain international Ayoze Perez, they have conceded in every match so far this season.

Madrid still seem to be struggling without midfield maestro Toni Kroos, who retired after helping the team to a La Liga and Champions League double.

Los Blancos will also line up with Ukrainian goalkeeper Andre Lunin between the sticks with Thibaut Courtois out injured. “We have to analyse and improve in the next game because there is no time – there are many games and we have to win,” said Lunin after the Lille defeat.

Villarreal may be without Perez, who missed Monday’s win over Las Palmas with muscular discomfort and Gerard Moreno is also sidelined, but striker Thierno Barry is finding form for Marcelino Garcia Toral’s side.

The French striker scored and got an assist as Villarreal moved up to third with the 3-1 win.

Girona and Atletico Madrid also suffered Champions League defeats on Wednesday and both are in action on Sunday, against tricky Basque sides Athletic Bilbao and Real Sociedad respectively.

Asia producers hail EU deforestation law delay

Business

October 5, 2024

A palm oil farmer transporting palm oil seeds in Kampar, Riau province, Indonesia. PHOTO: AFP

BANGKOK (AFP) – Producers from Malaysia’s palm oil industry to Vietnam’s coffee sector on Thursday welcomed a European Union (EU) decision to delay implementation of its anti-deforestation rules.

The year-long delay triggered immediate outcry from environmental groups, but the legislation had faced substantial pushback from many governments and industries.

They criticised the law, which intended to prevent the import of products that drive deforestation, for confusing rules and complex documentation requirements that they said would particularly burden small-scale farmers.

The EU’s decision to delay was a relief, said chair of the Buon Ma Thuot Coffee Association Trinh Duc Minh.

“The extension of the timeline is necessary and reasonable,” he told AFP, though he noted coffee prices that rose as companies stockpiled before the deadline might now drop.

Head of Vietnamese coffee exporter An Thai Group Nguyen Xuan Loi also hailed the news as a “positive move”.

“In reality, Vietnam has been strictly managing deforestation issues,” he told AFP.

“There are hardly any violations anymore.”

Global Forest Watch said Vietnam’s primary forest loss has fallen from a peak in 2016, but the country still lost about 16,500 hectares in 2023, with commodity-driven deforestation a leading cause.

EU imports accounted for 16 per cent of deforestation linked to global trade in 2017, according to World Wide Fund for Nature.

When the law was adopted in 2023 it was hailed as a major breakthrough to protect nature and the climate.

It requires exporters of cocoa, soy, timber, cattle, palm oil, rubber, coffee – and items derived from those products – to certify their goods were not produced on land deforested after December 2020.

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Countries including Malaysia and Indonesia have vocally opposed the new rules and the chorus of criticism grew louder as the December implementation deadline neared, with Brazil and the United States among those voicing concern.

Malaysia’s Palm Oil Council welcomed the proposed delay as a “victory for common sense”.

The decision is a “welcome relief for all those businesses who highlighted the need for a delay,” the body’s head Belvinder Kaur Sron said.

“Malaysia has over the past two years consistently provided evidence… that the implementation date of December 30 was unworkable, and the EU systems were not ready,” the council added in a statement.

It called for the EU to address outstanding demands, including exemptions for smallholders, clear benchmarking criteria and accepting Malaysia’s sustainable palm oil standard.

Bayern look to rebound at bogey side Frankfurt

Sports

October 5, 2024

Bayern Munich’s midfielder Joshua Kimmich, forward Harry Kane and midfielder Leon Goretzka. PHOTO: AFP

BERLIN (AFP) – Bayern Munich travel to bogey side Eintracht Frankfurt tomorrow looking to rebound having dropped points twice in the space of a week.

The Bavarians opened the season under Vincent Kompany with six straight wins, but were held to a 1-1 draw at home by champions Bayer Leverkusen last Sunday and then lost 1-0 at Aston Villa in the Champions League on Wednesday.

Frankfurt’s excellent start to the season means they sit just one point behind Bayern, who sit atop the Bundesliga table.

Bayern’s recent history with Frankfurt is remarkably even. In their past seven games each side have won three, with one draw.

In the corresponding fixture last season, Frankfurt dealt the previously unbeaten Bayern a telling blow, winning 5-1 to expose the vulnerabilities in a side which finished the season trophyless.

The duels have been as unpredictable as they have been entertaining, often with off-field consequences.

Frankfurt upset Munich 3-1 to lift the German Cup in 2018 – after which Bayern poached Eagles’ coach Niko Kovac.

Kovac’s time at Bayern was an unhappy one however and eventually came to an end in November 2019, after Frankfurt unleashed a 5-1 thrashing on the German giants.

In the 14 clashes since that cup final, one side has scored five or more goals seven times.

While Bayern’s status as Germany’s big cheese is unquestioned, Frankfurt have quietly improved on and off the park in recent decades.

Bayern and Frankfurt are the only two German sides to have won a European trophy this century.

Frankfurt have played in three of the past eight German Cup finals, the same as Bayern and one more than powerhouses Borussia Dortmund.

The sides’ two top goalscorers are also neck and neck. Frankfurt’s Omar Marmoush leads the league with six goals, followed by Harry Kane who has five.

Borneo Bulletin OnlineThe Independent Newspaper in Brunei Darussalam, Sabah and Sarawak

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