Credit Card Offers 50,000 bonus KrisFlyer miles with new HSBC Star Alliance Credit Card

I am trying to work this out. I got my 25k KF points re the promo earlier this year and I will get 20k KF points after 12 months if I renew and pay the AF. l also have KF Gold due to this. Can I can the KF gold after 12 months and get the 40000 Star Alliance points in lieu of the 20k KF points.
 
Yes I am on track, I have been spending exactly 4k every month since January. Don't want to spend anymore as the points after 3k are halved.
 

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