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 * Brunei’s ageing population to double in 16 years, says Asian Development Bank
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BRUNEI’S AGEING POPULATION TO DOUBLE IN 16 YEARS, SAYS ASIAN DEVELOPMENT BANK

--------------------------------------------------------------------------------


 * Brunei

 * Saturday, 04 May 2024
   
   4:35 PM MYT
   


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BANDAR SERI BEGAWAN (Borneo Bulletin/ANN): With economies in developing Asia
ageing rapidly, the share of older people in Brunei is expected to double from
10 per cent to 20 per cent in 16 years, said the Asian Development Bank (ADB).

The bank in its report Ageing well in Asia; Asian Development Policy released on
Thursday, noted that the number of people aged 60 and older in developing Asia
and the Pacific is set to nearly double by 2050 to 1.2 billion – or about a
quarter of the total population – significantly increasing the need for pension
and welfare programmes as well as healthcare services.



Some economies in developing Asia are ageing rapidly, while others are
undergoing a more gradual transition.



The speed of ageing, measured by the number of years required for the share of
older people to double from 10 per cent to 20 per cent, has been rapid in
Singapore at 17 years, Thailand at 18 years, and Korea at 19 years.



Of the 38 economies that have not yet reached the 20 per cent threshold, 13 will
do so by 2050.

Among them, the transition is expected to take 13 years in Maldives, 16 years in
Brunei Darussalam, and 21 years in Azerbaijan, Bhutan, and Palau.

Asia’s ageing population will affect a wide range of economic and social
indicators, including economic growth and fiscal balances.

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Economies will also have an opportunity to reap a “silver dividend” in the form
of additional productivity from older people, which could boost gross domestic
product in the region by 0.9 per cent on average.

“Asia and the Pacific’s rapid development is a success story, but it’s also
fuelling a huge demographic shift, and the pressure is rising,” said ADB Chief
Economist Albert Park.

“Governments need to prepare now if they’re going to be able to help hundreds of
millions of people in the region age well.

“Policies should support lifetime investment in health, education, skills, and
financial preparedness for retirement. Family and social ties are also important
to foster healthy and productive populations of older people and maximise their
contribution to society.”

According to the report, 40 per cent of people over 60 years in Asia and the
Pacific lack access to any form of pension – with women disproportionately
affected, as they are more likely to do unpaid domestic work.

As a result, many older people in the region have no choice but to work well
beyond retirement age to survive.

Among those still working at age 65 or older, 94 per cent work in the informal
sector, which typically doesn’t provide basic labour protections or pension
benefits.

Physical and mental health challenges also increase with age. Around 60 per cent
of older people in Asia and the Pacific do not attend or receive regular health
checks, while 31 per cent report depressive symptoms owing to illness, social
isolation, and economic insecurity.

The region’s older women are also more likely to suffer from ill health than
older men, from depression to diabetes and hypertension.

The report recommends a wide range of policy measures to support healthy and
economically secure ageing.

Among these are government-assisted health insurance and pension plans, improved
health infrastructure, and free annual check-ups and lifestyle evaluations.

Policy makers should aim for universal health care coverage, while basic labour
protections should be extended to older informal workers, according to the
report.

By making mandatory retirement ages more flexible, helping older people stay
healthy, and providing them with suitable work opportunities as well as lifelong
learning and skills development, economies in the region can help older people
stay productive longer. – Borneo Bulletin/ANN

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--------------------------------------------------------------------------------

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MARKET SUMMARY

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Quotes are delayed by at least 15 mins
Updated: 31 Dec 2024|2:50 PM


FBM KLCI

1635.99

-1.69

-0.1%

Vol ('00)


15,269,382

Day's Range

Low

1632.85

High

1638.43
52 Weeks Range

Low

1446.36

High

1685
Gainers350
Losers518
Unchanged508
Untraded1013
Go to Market Watch


MARKET MOVERS

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--------------------------------------------------------------------------------

 * Active
 * Gainers
 * % Gainers
 * Losers
 * % Losers

 * SymbolOpenHighLowLastChg%ChgVol ('00)HSI-CWAZ 0.090 0.100 0.090 0.095
   0.0000.00533,121 ZENTECH 0.010 0.010 0.005 0.010 0.005100.00513,133 MUIPROP
   0.390 0.395 0.355 0.370 -0.065-14.94495,803 VELOCITY 0.040 0.055 0.035 0.045
   0.00512.50373,313 HM 0.145 0.170 0.145 0.170 0.03021.43337,233 HSI-PWB1 0.125
   0.125 0.110 0.110 -0.010-8.33266,506 MICROLN 0.220 0.250 0.220 0.240
   0.02511.63245,197 HSI-PWBH 0.170 0.180 0.140 0.145 -0.020-12.12241,066
   YTLPOWR-C64 0.070 0.075 0.070 0.070 -0.005-6.67233,177 HSI-PWBG 0.060 0.065
   0.045 0.050 -0.010-16.67213,897 KGW 0.180 0.195 0.175 0.185 0.0105.71186,753
   HSI-CWA2 0.120 0.125 0.120 0.125 0.0054.17186,226 VELESTO 0.155 0.160 0.150
   0.160 0.0106.67178,190 YEWLEE-WA 0.220 0.220 0.215 0.220 0.0052.33163,140 KAB
   0.345 0.345 0.340 0.345 0.0000.00162,974




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