Chinese New Year Greetings
The Year of the Rat is just round the corner! Taking this opportunity, may we wish you good health and good fortune!!

Speaking of rat stories, we would like to share with you a famous book named “Who Moved My Cheese?” written by Dr. Spencer Johnson. This was a short and lighted-hearted parable about how the four characters reacted to “changes” as they searched, lost and rediscovered their favorite cheese inside the maze. In reality, our maze of life is always full of changes. However, please rest assured that Altruist is committed to providing the most comprehensive financial planning services in your different stages of life, so that you can be well prepared to handle all the sudden changes, giving you peace of mind during sickness, old age and misfortune.
Altruist Honor (Congrats!)
HKMA Charter Membership
Altruist was honored to receive the Charter Member Certificate during the HKMA Annual Fellowship Dinner held on Nov 11th “in recognition of the high standards of management maintained within the company and of the constant endeavours of its officers in promoting modern management in Hong Kong, so contributing towards the greater prosperity of the community”. With this valuable membership, we will continue to render professional financial planning services to our customers.
Golden Image Award
To recognize our exceptional achievements and outstanding contributions in the financial planning industry, we were recently awarded as the “Golden Image Award - Best Brand in Financial Services Industry Division”. Golden Image Award is nominated by board of committee of The Academy of Micromovie and Transmedia and it is our honor to receive the certificate as presented by Oscar Awardee Ms. Gigi Dement and autographed by Nobel Prize winner Mr. Nakamura Shuji.
What's New
MSF Day 2019
“MSF Day 2019” is an annual signature campaign organized by Médecins Sans Frontières Hong Kong to raise public awareness and funding from private sectors for MSF relief projects worldwide. Our colleagues were eager to show their support in order to demonstrate our altruistic spirit.
The 11th LUA Bowling Tournament
Congratulations! We had a record breaking year for Altruist in the LUA Bowling Tournament by hitting the second place in both Women’s Single category and Mixed Single Category!!
Otic Charity Concert
Even though the charity concert has been rescheduled from evening to day time, the supporters were still very enthusiastic in participating in this important annual event. Dr Lam together with other artists have brought to the audience an enjoyable and meaningful show. We are grateful to have the opportunity to participate by making donations and offering volunteers.
Recruitment activities
Altruist has taken part in the following recruitment activities over the last 6 months:
- In-house Recruitment Seminar: July 18th
- IVDC Career Talk: Sep 13th, Oct 8th, Dec 4th
Sponsorship of uniform for Juventus Fans Club (HK)
With the recent establishment of Juventus Fans Club in Hong Kong, Altruist is thrill to have the opportunity to sponsor their uniforms. Having our company mission for “Wealth‧Health‧Wisdom”, we will continue to strive for promulgating the wellness message. Look! The members looked so smart with the new uniforms!!
[Hodorfun] Health Talk Series
Thanks to Life Master Ah Sing, who has shared with us his extensive knowledge in areas ranging from food labels to various health tips.
Professional Elites – FC of the Month
Top Premium Producer

Emily Law

Aug | Sep
Elsa Chan

Derek Man

Selandia Yu

Judith Lui
Top Case Producer

Karen Ma

Aug | Sep
Elsa Chan

Ian Tan

Eden Tsang

Judith Lui
A Club Events Snapshot
A Club
“Work Hard‧Play Hard” is our culture.

The establishment of A Club is to bring balance of life to colleagues and family members by organizing regular social and charity activities.
“Soup” me your Love
It’s always more blessed to give than to take! Collaborating once again with Caritas Hong Kong – Service for the Elderly”, we spent another warm and meaningful afternoon with the elderly by cooking for them healthy soup and playing funny games with them. Everyone enjoyed very much!
Adventure @Tung Lung Island
As an outlying island, Tung Lung is located extremely convenient for the city visitors. We have explored the beautiful island by having a leisure hiking and delicious seafood meal.
X’mas Lunch Buffet
We wish you a merry X’mas!
We wish you a merry X’mas!
We wish you a merry X’mas!
And a H-a-p-p-y N-e-w Y-e-a-r!!
It’s time to celebrate!!
Annual Party
“iPhone”, “iPhone”, “iPhone” ……..
Everybody was crying crazily for “iPhone” when we had the grand prize lucky draw in the A Club Annual Party. Although we had only one lucky winner for the new-model iPhone, all other guests could still get at least one prize from the lucky draw section. What a good tradition!!

In addition to the fabulous lucky draw prizes, everybody also enjoyed very much the opening k-pop dance performance by the students from HKCC Dance Society and the singing performance by a busking team “DTL” and two of our colleagues. The party was filled with whoops of delight!!
Special Feature
Explore Your Second Home@Malaysia
Starting fom June 2019 to the present, with the different concerns of the public on politics, society, economy and people's livelihood, a new “Immigration Wave” has once again emerged in Hong Kong after the transfer of sovereignty in 1997!

So far, the accurate immigration figures of Hong Kong people are still unknown. Yet, according to the information from the Police Department, more than 15,000 people have applied for “Certificate of No Criminal Conviction” since June 2019 and the trend of rising application is obvious. Previously, the more popular choice for Hong Kong people to migrate overseas has always been the United States, Australia and Canada, and most of the applicants are middle-class people or people close to retirement age. But this time, there’s a group of middle-aged people with young children whose target is to pave the way for education development for the next generation. At the same time, another group of people, coming from different classes and professions, are actually looking for a back-up plan, but not consider to leave HK immediately. Therefore, they would prefer a country with lower entry threshold and simple application procedures. The most important consideration is no need to stay long during the application processing time. Therefore, Malaysia has become the hot pick for recent immigration!

In fact, the Malaysian Government has launched the "MM2H -Malaysia My Second Home Program" early in 2002. Upon approval, applicants can obtain a 10-year renewal and multiple-entry residence visa. This can best suit people who just want to obtain “residency” rather than “citizenship”! Comparing to other Asian countries such as Taiwan, Japan and Thailand, Malaysia has many advantages
1. The country's geographical location is unique, and there are no natural disasters, including earthquakes, volcanic eruptions and typhoons;
2. Multi-ethnic society with Malay (50%), Chinese (25%) and other races (25%) living together in harmony. Cantonese, Mandarin and English are also popular, and there’s barrier-free communication;
3. The country has abundant natural resources so no need to worry about food safety. The food culture is close to Hong Kong and people can enjoy different cuisines from many countries;
4. According to the standard of medical expenses, facilities, hospitals and doctors, Malaysia has been ranked as the best medical country in the world. With the medical advancement at an affordable price, Malaysia has become a popular place for medical tour recently;
5. Political and economic environment are stable. With the rapid development of the capital Kuala Lumpur, there are increasing investment from foreign companies while real estate prices are still cheap;
6. International school network is extensive in Malaysia. Many European, American and Australian universities also have their branches there. People can now enjoy lower education costs and less study pressure;
7. According to the "Global Retirement Index Report 2019" released by the American media “International Living”, Malaysia now ranks the first in Southeast Asia and becomes the first choice for retirement!

The requirements for applying for MM2H are simple. Applicants younger than 50 only need to have current assets of a minimum of RM500,000 (about HK$1 million) with a monthly income of RM10,000. Upon approval, applicants need to place a fixed deposit of an amount of RM$300,000 in any banks in Malaysia. Applicants aged 50 and above need to have current assets of a minimum of RM350,000 (about HK$700,000) with a monthly income of RM10,000 (retirees must produce a government-approved pension certificate with an amount of RM10,000 per month). Upon approval, applicants need to place a fixed deposit of an amount of RM$150,000 in any banks in Malaysia. In fact, Altruist has introduced MM2H program and popular properties in Kuala Lumpur three years ago, providing our customers with one-stop support and services. Due to the rising number of MM2H applicants, the Malaysian Government has also extended the approval time to 9-12 months. Interested applicants should act immediately!

In addition to Malaysia, Altruist can also arrange other immigration services in different countries around the world. If you have any enquiries, please contact your financial consultants or call our customer service hotline at 2297 8000!
Market Outlook
South Korean stock markets may give investor a pleasant surprise in 2020
Entering into the second half of December 2019, the prolonged trade disputes between China and the U.S. seems to have eased, and it is expected that the two countries will sign the “phase one” agreement shortly. At the same time, the dust has settled after the UK General Election. The Conservative Party not only obtained the majority seats in the Parliament, it was also the Party’s biggest victory since 1987 and the risk of "No-Deal Brexit" on 31st January 2020 has been greatly reduced. Since the two major market uncertainties gradually subsided, both the European and U.S. stock markets hit new record highs simultaneously.

The U.S. and the European stock markets achieved impressive return in 2019, while there was a huge difference in the stock market performance among different countries in Asia. In China, the CSI 300 Index rose more than 30% in 2019 as the MSCI decided to increase the weight of mainland Chinese A-shares in its benchmark index. The Indian stock market was also stimulated by the government's tax reform announced in mid-September, the Sensex Index hit record highs again and again. On the other hand, some exports-dependent countries in the Asian region suffered and the stock markets performed poorly as well, and South Korea was one of them.
The South Korean stock market underperformed significantly in 2019 (in term of USD) (Source: Bloomberg, as of 18th December 2019)
As we all know, the South Korean economy relies heavily on the exports of technology products. The trade war between China and the U.S. and the sluggish semiconductor market have already severely affected the exports. In addition, the trade conflict between South Korea and Japan have also been heightened since July. Japan even restricted the exports of vital raw material of semiconductors and digital flat screens to South Korea and hit the production of the country’s electronic products. According to the latest data, South Korea ’s exports fell 14.3% in November from a year earlier, and it has been the 12th consecutive month of negative growth. Not surprisingly, the Ministry of Planning and Finance cut the country’s 2019 economic growth forecast to 2% from the previous 2.4% to 2.5%; and the 2020 economic growth forecast was also lowered to 2.4% from the forecast of 2.6% in July this year.
The performance of South Korean KOSPI Index and exports (Source: Bloomberg, as of 30th November 2019)
The South Korean economy currently is experiencing the slowest growth in 10 years. However, threat may coexist with opportunity. The South Korean Government has already approved to increase fiscal spending next year to boost the economy while the Central Bank has also indicated to maintain a loose monetary policy stance although the benchmark interest is at record low right now. Since the 5G era is coming, the global demand on the related telecommunication products is expected to surge. With the improved U.S.-China trade relation and the start of ice-breaking talk between South Korea and Japan, the exports of South Korea are highly likely to rebound from the bottom next year. According to the past experience, the South Korean exports have a strong correlation with stock market performance and the performance of KOSPI has also lagged far behind other major global and Asian markets in 2019. For the above reasons, the South Korean stock market may give investors a pleasant surprise in 2020.

The information contained is for general information only, without warranty of any kind. The information contained should not be regarded as an offer to sell, to subscribe to, or to provide any investment recommendation. Investment involves risks, past performance is not indicative of future performance. Reader should consult their professional financial consultant before making any investment decision.

Investment Services Dept
Altruist Financial Group Ltd.
Dec 2019
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