KUALA LUMPUR, 22 NOVEMBER 2021 - Tune Protect Group Berhad (“Tune Protect”, “Group”) and the Malaysia Healthcare Travel Council (“MHTC”) have collaborated to introduce a Covid-19 travel protection plan for healthcare travellers seeking medical advice and treatments in Malaysian private hospitals. Known as the Covid Travel Pass+, it comes in two different plans, the Basic and Premium plans which provide medical expenses and hospitalisation coverage due to Covid-19 of up to RM100,000 (USD23,926.31) and RM350,000 (USD83,742.07) respectively. Both plans also come with a bereavement allowance of RM10,000 (USD2,392.63).
Aside to the Covid-19 coverage, the Covid Travel Pass+ benefits include trip cancellation, flight on arrival delay, loss or damage to checked-in baggage, and Covid-19 diagnosis quarantine allowance (RM350 or USD83.83 per day up to RM2,450 or USD585.98) among others.
Petaling Jaya, 22 November 2021 - MCIS Insurance Berhad (MCIS Life) has taken up a 4.99% stake in Merchantrade Asia Sdn Bhd, the leading e-money player and the country’s largest Money Services Business operator, through the acquisition of new ordinary shares of an undisclosed amount.
The two companies kicked-off a marketing distribution arrangement in 2019 where MCIS Life provided a life insurance protection plan for Merchantrade’s customers which includes Malaysians as well as migrant workers.
In August 2021, they teamed up again to provide a product targeted at underserved communities such as Malaysians eligible for the Perlindungan Tenang Voucher (PTV) scheme.
SINGAPORE, 22 NOVEMBER 2021 – Private market exchange ADDX has enabled rare fractional access to a private credit fund with more than US$1 billion in committed capital, reducing the fund’s minimum investment size for individual accredited investors from US$5 million to US$20,000. The move helps diversify the investor base of private credit funds, which have traditionally been designed to serve institutional capital. This is also the first private credit fund to be tokenised on the ADDX platform.
The lowering of the investment threshold was made possible through the issuance of security tokens with an exposure to the SeaTown Private Credit Feeder Fund LP (“SeaTown Private Credit Fund”). Also known as digital securities, these tokens are more efficient to administer because they make use of blockchain and smart contracts to overcome manual processes at different stages of their life cycle – including custody, ownership tracking, fund earnings distribution and secondary trading. The use of security tokens also eliminates the need for multiple intermediaries, which brings down costs further for both issuers and investors.
