Corporate Bits | Lui Che Woo prize announces 2018 laureates

The Lui Che Woo Prize – Prize for World Civilization announced the three laureates of the 2018 Lui Che Woo Prize, an award recognizing their efforts to overcome the significant issues facing the world.

The 2018 Positive Energy Prize, which had a focus on “Elimination of Illiteracy” this year, was awarded to India’s Pratham Education Foundation.

Pratham Education Foundation directly helps one million children attain basic literacy and numeracy skills annually.

Meanwhile, the 2018 Welfare Betterment Prize focused on “Reduction of the Impact of Natural Disasters” was awarded to the World Meteorological Organization (WMO).

WMO sets worldwide standards and provides a framework for international co-operation by supporting its 191 member states and territories in implementing the adopted policies.

The 2018 Sustainability Prize focused on “Development of Renewable Energy” was awarded to Hans-Josef Fell.

Fell founded the world’s first energy community to produce solar power in 1994 and transformed the market for renewable energy, and successfully fought for the adoption of the Renewable Energy Act in the German Parliament.

Melco launches new pension fund for employees

Melco Resorts & Entertainment Limited will launch a new pension fund plan with matching contributions of up to 5 percent of base salary and provide guaranteed tips (if any).

The gaming operator, as cited in a statement, will also award a one-time special gift of a month’s salary to eligible Macau non-management employees upon completion of the new pension fund plan participation process.

This will be implemented in the coming months and payment of the one-time special gift to eligible employees, if applicable, is expected to be made around the end of October 2018.

As part of this review, various other benefits were announced to employees, including but not limited to, enhanced employee discounts, a new sick leave policy which will be trialed for one year, perfect attendance recognition and service award recognition programs honoring 10 years or more of service.