KUALA LUMPUR, Malaysia, Sept. 30, 2024 /PRNewswire/ — Hong Leong Bank (“HLB” or the “Bank”) has received 4 industry awards this year, reinforcing its position as a leading financial institution in Malaysia. These accolades span SME banking, innovative financial products and even financial inclusion initiatives, reflecting the Bank’s dedication to providing an end-to-end banking experience that offers innovative, customer-centric financial solutions, while leveraging digital innovation to uplift communities.

Best SME Bank in Malaysia

HLB has been named “Best SME Bank in Malaysia” at the Euromoney Awards for Excellence 2024, and for the third consecutive year at the Asian Banking & Finance (“ABF”) Retail Banking Awards 2024. This achievement is attributed to an impressive 10.4% year-on-year (“YoY”) increase in its SME loan/financing portfolio, reaching RM33 billion in the past financial year. The Bank’s community banking initiatives also saw an outstanding 12.6% YoY growth, nearly double the industry average.

The Bank’s commitment to SMEs goes beyond providing loans and financing. It offers a fully-digital onboarding experience where SME customers can apply for banking products and services from their own premises, eliminating the need for business owners to open accounts at a physical branch. With this, HLB provides a diversified suite of online banking capabilities, including enhanced features for faster trade processing, an optimised loan origination system that expedites loan approvals. HLB also has an extensive network of Community Business Managers (“CBMs”) and Cash, Trade & FX (“CTFX”) specialists which are embedded within the nationwide SME community, equipped with the solutions and insights needed to provide unparalleled support to SMEs and business owners.

Best Deposit Product in Malaysia

In line with its commitment to optimising customer experience through innovative banking solutions, HLB’s Pay & Save Account/-i (“Pay & Save”) has been named “Best Deposit Product in Malaysia” at The Asian Banker Excellence in Retail Finance and Technology Innovation Malaysia Awards 2024.

The Pay&Save account provides multi-currency flexibility and offers higher interest/profit on everyday transactions. The account is designed for a seamless user experience, leveraging on HLB Connect and an integrated multi-currency debit card. Customers can manage finances in both Malaysian Ringgit (MYR) and 12 major foreign currencies, convert currency easily at competitive rates, and spend and withdraw foreign currencies abroad while receiving FOREX alerts at their preferred rates, a testament to the Bank’s commitment to designing financial solutions that cater to its customers’ diversified lifestyles.

Best Financial Inclusion Initiative

HLB’s commitment to customer-centricity and uplifting the community is evident in its financial inclusion program, HLB @ Kampung, which equips underserved communities with digital payment tools and online banking infrastructure. Following its successful launch in Sekinchan, Selangor in 2023, HLB has further initiated 71 HLB @ Kampung projects that look to support the digital transformation of rural towns across Malaysia, turning them into a Cashless Kampung. On the back of the program’s success, the Cashless Kampung program was internationally-recognized as the Best Financial Inclusion Initiative at The Asian Banker Excellence in Retail Financial Services International Awards 2024.

Built Around You

Kevin Lam, Group Managing Director and CEO of HLB commented on the widespread recognition of HLB’s banking excellence.

“As a financial institution, we constantly look to reimagine our digital banking products and services, ensuring that we truly design them to provide a seamless banking experience for our customers. These awards are not just a reflection of the relentless dedication and hard work from our team at HLB, but it also underscores our pursuit of innovation and customer-centricity. From designing a multi-currency, digitally-enabled savings account, to enhancing our SME banking capabilities and uplifting communities with digital innovation, we look to provide financial solutions and services that are integrated into our customers’ diverse lifestyles, becoming a bank that is truly Built Around You.”  

HLB has also recently upgraded their HLB Connect mobile banking app, further enhancing and streamlining the user experience when it comes to digital banking. The new app comes with a new and improved Forex Rate converter interface, which complements the multi-currency Pay & Save account by making it easier for customers to calculate conversion rates. Besides that, the app now allows for auto-detect biometric settings, where users can use their pre-set security settings on their mobile phones (biometrics for Android and Face ID for iOS) to unlock their HLB Connect app.

For more information about HLB’s Pay & Save account, please visit:

https://www.hlb.com.my/en/personal-banking/deposits/savings-account/pay-and-save-account.html 

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SOURCE Hong Leong Bank

BANGALORE, India, Sept. 30, 2024 /PRNewswire/ — Desktop Humidor Market is Segmented by Type (Wooden Humidor, Glass Top Humidor), by Application (Household, Commercial): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Desktop Humidor Market was valued at USD 151 Million in 2023 and is anticipated to reach USD 197 Million by 2030, witnessing a CAGR of 4.3% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Desktop Humidor Market

The global desktop humidor market is growing as cigar enthusiasts and collectors increasingly prioritize proper cigar storage to maintain quality and freshness. Desktop humidors are specialized containers designed to control the humidity levels required to preserve cigars, which are sensitive to fluctuations in moisture. These humidors typically come in various sizes and materials, such as wood and glass, and offer an aesthetically pleasing way to store cigars, making them popular among individuals and businesses alike. The rise in disposable incomes and growing interest in premium cigars, particularly in North America and Europe, are key factors driving the demand for desktop humidors. In addition, the commercial use of desktop humidors in cigar lounges, bars, and specialty shops is expanding, further boosting market growth. As cigar culture continues to flourish, particularly among younger demographics, the market for desktop humidors is expected to witness steady growth. The increased focus on craftsmanship, luxury, and the presentation of high-end cigar accessories is also shaping the market dynamics.

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TRENDS INFLUENCING THE GROWTH OF THE DESKTOP HUMIDOR MARKET

Wooden humidors are a significant driver of the desktop humidor market, as they are the preferred choice for many cigar enthusiasts due to their durability and aesthetic appeal. High-quality wood, such as Spanish cedar, is known for its ability to regulate humidity levels and enhance the flavor of cigars, making it an ideal material for humidors. The craftsmanship and luxurious appearance of wooden humidors also make them desirable for collectors and connoisseurs. As demand for premium cigars continues to rise, the market for wooden humidors is expanding, with consumers willing to invest in high-end storage solutions to preserve their cigar collections.

The growing popularity of cigars as a luxury lifestyle product is driving the demand for desktop humidors in households. Many individuals now view cigar smoking as a hobby, leading them to invest in humidors to properly store and age their cigars at home. Desktop humidors are particularly appealing to household consumers due to their compact size and ability to hold a personal collection of cigars. As cigar culture becomes more mainstream, particularly among younger generations, the demand for home cigar storage solutions is increasing, contributing to the growth of the desktop humidor market.

The commercial sector, including cigar lounges, bars, and specialty tobacco shops, is another key driver of the desktop humidor market. These establishments require humidors to display and store cigars in optimal conditions, ensuring product quality for their customers. Commercial businesses are increasingly investing in aesthetically pleasing and functional desktop humidors to enhance the customer experience and elevate the presentation of their cigar offerings. The rise of cigar lounges and smoking-friendly bars in urban areas has created a steady demand for commercial-grade humidors, further driving market growth.

The increase in disposable incomes, particularly in developed economies, is one of the primary factors driving the growth of the desktop humidor market. As consumers have more spending power, they are more likely to indulge in luxury goods, including premium cigars and cigar accessories. The growing number of affluent individuals who can afford to invest in high-quality humidors is contributing to market expansion. This trend is especially prominent in North America and Europe, where cigar smoking is often associated with a premium lifestyle. As disposable incomes continue to rise globally, the demand for desktop humidors is expected to grow.

The rising interest in premium cigars is significantly contributing to the growth of the desktop humidor market. As consumers become more discerning about the quality and origin of their cigars, they are also seeking storage solutions that preserve the freshness and flavor of their collections. The increasing popularity of limited-edition and hand-rolled cigars has heightened the need for reliable humidors that can maintain consistent humidity levels. As a result, cigar enthusiasts are willing to invest in high-end desktop humidors, which has led to an increase in market demand, particularly among collectors and connoisseurs.

The global expansion of cigar lounges and bars is another factor driving the growth of the desktop humidor market. These establishments offer customers a curated experience, where cigars are often displayed and stored in desktop humidors that preserve their quality. The rise of cigar lounges as social spaces has increased the demand for aesthetically pleasing and functional humidors that enhance the presentation of cigars. As the cigar lounge culture continues to grow in major cities worldwide, the market for desktop humidors is expected to benefit from this trend, particularly in regions with strong smoking cultures.

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DESKTOP HUMIDOR MARKET SHARE

The desktop humidor market varies by region, with North America and Europe leading due to the strong cigar culture and higher disposable incomes in these areas. The United States, in particular, is a major market for desktop humidors, driven by the popularity of premium cigars and the growing number of cigar lounges. Europe, especially countries like Spain and Italy, is also a key market, as cigar smoking is deeply embedded in the culture. The Asia-Pacific region is emerging as a potential growth area, as interest in luxury goods and premium cigars rises among affluent consumers in countries like China and Japan.

Key Companies:

Humidores WacotaGerberVigilantSinostar Packaging Manufacturer Co., LtdCase EleganceGrand HumidorsHolt’s Cigar CompanyPrestige Import GroupCigar Star

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Cigar Humidor Market

–  Cigar Cooler Humidor Market

–  Cigar Market revenue was USD 17650 Million in 2022 and is forecast to a readjusted size of USD 21020 Million by 2029 with a CAGR of 2.5% during the forecast period (2023-2029).

–  Electric Desktop Humidor market was valued at USD 5.3 Million in 2023 and is anticipated to reach USD 7.8 Million by 2030, witnessing a CAGR of 5.8% during the forecast period 2024-2030.

–  Wooden Desktop Humidor market was valued at USD 146 Million in 2023 and is anticipated to reach USD 190 Million by 2030, witnessing a CAGR of 4.3% during the forecast period 2024-2030.

–  Electronic Humidor Cabinet Market

–  Fuel Cell Humidifier market was valued at USD 76 Million in 2023 and is anticipated to reach USD 929 Million by 2030, witnessing a CAGR of 45.6% during the forecast period 2024-2030.

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Affordable AI-Powered Legal Solutions

HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.

DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:

Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.

The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.

DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.

As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50  per document. Interested parties can Visit the DocLegal.ai website to sign up.

About DocPro Limited

Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.

DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.

Media Enquiries: 

Kim Chan
kim.chan@docpro.com

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