Retail News CRM

Author: Mei Ling Tan

  • Amazon Starts to sell fresh produce online in Japan

    Amazon Starts to sell fresh produce online in Japan

    Amazon Japan is partnering with local supermarket operator Life Corp to sell fresh foods online.

    The project will commence in parts of Tokyo later this year and provide a range of produce to Amazon’s Prime Now subscribers in Japan, offering order times as prompt as two hours for delivery. It is the first time the internet giant’s Japanese unit has partnered with a supermarket chain.

    Amazon Japan will handle all deliveries and process payments under the new venture, which targets those who face challenges leaving home to go shopping, such as the elderly or busy working professionals. The firm is hoping to use the service to meet a broader demographic for its Prime Now subscriptions.

    The arrangement is an opportunity for Life to extend its current online reach, which currently covers just over half of the Tokyo metropolitan zone. Profitability remains a limiting factor for supermarkets investing in online order infrastructure in Japan.

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  • Amazon cutting prices on thousands of online items

    Amazon cutting prices on thousands of online items

    Amazon Australia is holding its second mid-year sale, slashing prices on tens of thousands of products from Friday, May 31, through the month of June. The deals include up to 50 percent off select clothing, shoes and accessories from brands such as Calvin Klein, Berlei and Bonds; discounts on select TVs, video games and books; and 15 percent off household and pantry essentials when you spend $50 or more.

    Savings are advertised across all of Amazon’s 29 product categories, including kitchen, baby and pets.

    “With tens of thousands of products available at discounted prices and new deals going live every day throughout June, we hope our Mid-Year Sale provides something for everyone,” Rocco Braeuniger, country manager of Amazon Australia, said in a statement about the sale.

    Since launching in December 2017, Amazon Australia now claims to offer over 125 million products.

    This is the second time Amazon Australia has held a mid-year sale, joining many retailers in marking down stock for End of Financial Year (EOFY) sales during the month of June.

    Recent research from PayPal shows that EOFY sales are the most popular times for Aussies to pick up a bargain online, alongside Boxing Day.

    That same report also revealed that while some retailers are starting to move away from markdowns, most shoppers are still driven to purchase by discounts.

    PayPal found that 68 percent of Australian consumers are always on the lookout for an online sale or discount, and half of the consumers have waited for an item to go on sale before buying it online. Among Gen Z and Gen Y shoppers, that figure increases to 73 percent and 65 percent, respectively.

    But this doesn’t have to be bad news for retailers. According to PayPal, online sales present an opportunity for brands to build awareness and reach new customers: 39 percent of consumers have bought a brand online they wouldn’t usually buy because it was on sale, and 39 percent of retailers said online sales increase revenue.

    But it’s necessary to take a strategic approach. For instance, Amazon’s biggest sales – including its Mid-Year Sale, Prime Day sale, and Black Friday and Cyber Monday sales – are all about driving app downloads and Prime subscriptions. In turn, this drives more frequent purchasing on the platform.

    According to Retail Dive, Amazon saw more than 1 million consumers use its app for the first time on Prime Day 2018.

  • Centara kicks off 36th anniversary with epic 36-dayglobal celebration

    Centara kicks off 36th anniversary with epic 36-dayglobal celebration

     Centara Hotels & Resorts, Thailand’s leading hotel operator, is marking its 36th anniversary milestone with a 36-day worldwide customer-focused celebration tied to the company’s 1983 founding. On this occasion, it also marks the 36th anniversary of Centara Grand at Central Plaza Ladprao Bangkok, the first hotel of the group, together with the 10th anniversary of Centara Grand and Bangkok Convention Centre at CentralWorld and Centara Grand Mirage Beach Resort Pattaya.

    Thirty-six years ago, Thailand’s first shopping centre mega-mall development, Central Plaza, rose from a suburban construction site on Bangkok’s Ladprao Road, complete with a brand new 5-star hotel that launched the Central Group’s hotel business with one of the Group’s largest investment commitments.

    From its first hotel in Ladprao, Centara has grown and prospered. Today, 70 Centara properties with six distinctive brands are operational or under development across 12 countries, and the company is well on its way to doubling its global portfolio by 2022.

    Centara will kick off the 36th anniversary celebration by rolling out a series of enticing offers, attractive promotions and lucky draws on 3rd June 2019, all featuring a special “36” theme. Guests should look out for the following limited-time deals:

    Every Third Night For Just THB 36 – For 36 days (3rd June to 9th July 2019), travellers will be able to stay with Centara for just THB 36. Under this amazing offer, guests who book a minimum three-night stay at any Centara hotel or resort worldwide – including five-star Centara Grand resorts in Thailand and the Maldives – will be able to pay just THB 36 for their third night.

    Lucky Stay E-Voucher – For seven days from 14th to 20th June 2019, guests will be able to book rooms at selected Centara hotels for one set price (only THB 3,600 per night) and enjoy sublime stays with a higher value. This generous offer is valid for room nights worth more than THB 4,500 and available for stays taken up until 31st October 2019.

    Cash Bonus Spending Credit: THB 3,600 for More! – The 36th anniversary celebrations will make your Centara stays even more rewarding this summer. Guests who purchase a stored value credit of THB 3,600 between 21st and 27th June will see its value instantly boosted to THB 5,500. Use the credit to pay for spa treatments, hotel dining and much more.

    LINE Coupons: Exclusive Deals for THB 36 and THB 360 – Sip, snack or feast for less with a series of tantalising weekly coupons. For 36 days (3rd June to 9thJuly), Centara will reveal a series of fantastic F&B deals on LINE, the social media app. Grab a coffee, bakery and other snacks for as little as THB 36, or a relaxing 40-minute massage at spa Cenvaree for just THB 360.

    10 Year Travel in Style Challenge: Photo Competition – Compete in the 10 Year Travel in Style Challenge with Centara, or the 36 Year Challenge if you dare. Guests who post their “now and then” throwback travel photos and use hashtag #36CentaraThrowback could win one of 36 prizes, including one grand prize — a sensational five-night holiday at Centara Ras Fushi Resort & Spa Maldives, including transfers.

    Exclusive Privilege for Centara The1 – Our Photo Challenge is twice as enticing for members of Centara The1. All Centara The1 member prize winners will also receive 3,600 Centara The1 points, on top of their main prize. To help our winners make the most of their points, Centara will be offering free night redemptions for just 6,363 points at select hotels for a limited time.

    And that’s not all. Guests who stay with Centara during the 36-day anniversary period will be offered the chance to enter a Check-In Lucky Draw. Guests can win on-the-spot prizes including spa treatments, bottles of wine, celebratory cakes, special discounts and more.

    Since it first entered the hospitality industry 36 years ago, Centara has developed a strong reputation for blending gracious Thai-style hospitality with world-class accommodation and exceptional amenities. Now, with an expanded collection of innovative brands, Centara is aiming to write the next exciting chapter in our history, with the goal of doubling our global portfolio by 2022.

    For more information about Centara Hotels & Resorts, please visit https://36.centarahotels.com

  • Docomo, Ericsson complete 5G glass antenna trial

    Docomo, Ericsson complete 5G glass antenna trial

    Japanese operator NTT Docomo and glass solution provider AGC Group have collaborated with Ericsson to complete what the companies believe to be the world’s first trial of 5G communications using a glass-embedded antenna.

    The trial used an antenna embedded in synthetic fused silica glass to transmit and receive 28-GHz 5G radio signals.

    Validation testing used a vehicle fitted with multiple antennas and traveling about 30 km/h. Using the antenna, the companies achieved downlink speeds averaging 1.3Gbps within a 100 meter range, and maxing out at 3.8Gbps at 400 MHz.

    The glass antenna prototype has the potential to overcome challenges associated with high-band 5G spectrum being unable to adequately penetrate windows, the companies said.

    It could potentially be attached to window surfaces in buildings, vehicles and railway cars to enable stable, high-speed 5G communications under challenging indoor and in-vehicle conditions.

  • Ziera closing stores as part of Restructuring Plan

    Ziera closing stores as part of Restructuring Plan

    New Zealand women’s shoe brand Ziera has appointed a new CEO and chairman to transform the business into a digital-first omnichannel retailer.

    Ziera has announced a new partnership with The Iconic to grow its e-commerce presence, which will make it less reliant physical locations. The retailer plans to have fewer high street stores but offers higher quality service in the top locations is retains.

    “We will always have flagship stores on the ground where customers can come in, check out the range and get fitted properly,” said Ziera chairman Andrew Robertson.

    “But, once we have customized their footprint, their details can be stored online and they can then also buy with confidence from one of our digital channels.”

    In addition to its partnership with The Iconic, Ziera has also forged an exclusive trading relationship with Foot Mechanics, a New Zealand-based podiatry business, which will offer a core Ziera range at its 17 clinics as well as online.

    This relationship will make Foot Mechanics one of Ziera’s largest wholesale partners in New Zealand.

    Additionally, three of the brand’s stores will close in July as a result of expiring leases – Bridge Road in Melbourne, Garden City in Brisbane, and Orange in New South Wales – further pushing the brand to embrace online capabilities.

    The retailer has appointed a new chairman in Robertson, a new chief executive in Martin Bremner, and a new head of product design in Rosie Jamieson.

    Bremner was previously chief executive of Super Liquor Holdings, and has helped businesses through similar transformational periods before. Since Bremner joined in 2018, Ziera’s online sales have grown by approximately 33 percent, and has become it’s biggest “store”.

    Jamieson has more than two decades of experience in footwear creation, having previously worked at Hush Puppies, Sacha London, and Hotton. According to the brand, her involvement has seen the “reinvention” of the Ziera range.

    “Exciting times lie ahead of Ziera as we transform our business into an omnichannel retailer that provides customers with a convenient and easy experience, allowing them to shop however and whenever they choose,” Robertson said.

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  • Song Fa Bak Kut Teh Restaurant Chain to enter Taiwan

    Song Fa Bak Kut Teh Restaurant Chain to enter Taiwan

    Food Republic Taiwan is to open Song Fa Bak Kut Teh restaurants in Taiwan.

    The BreadTalk subsidiary has entered a franchise deal with Song Fa Holdings to develop and operate the Teochew pork-rib stew brand in Taiwan for the next 10 years.

    The first two outlets in Taiwan will be opened in popular Taipei malls.

    “Both malls have strong existing tenants and are household names among the local populace and tourists alike,” said Henry Chu, BreadTalk CEO.

    “With the addition of a star attraction like Song Fa Bak Kut Teh, we are confident to deliver the illustrious Song Fa experience to our customers in Taiwan.”

    Founded in 1969, Song Fa Bak Kut Teh has 10 outlets in Singapore, seven in Indonesia, six in China, and one in Thailand.

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  • Link’s Temple Mall installs ‘Green-Screen Studio’

    Link’s Temple Mall installs ‘Green-Screen Studio’

    Temple Mall has installed a green-screen studio letting shoppers recreate scenes from famous romance movies.

    Link’s Temple Mall has installed an in-mall green-screen studio as part of its “Love at First Scene” campaign.

    The installation features 15 romantic scenes for shoppers to choose from along with a costume borrowing service and onsite postcards, allowing customers to play the lead roles in the famous love scenes and recreate silver-screen magic.

    The experience is capped off with a snapshot at the Romantic Moments photo zone, offering an occasion for customers to have their love stories memorialized in photos. The mall also provides a three-metre-tall selfie wall and six other Insta-worthy spots for customers to confess their love in their own creative way.

    Customers who spend a designated amount under the terms of the promotion may borrow costumes to re-enact the scenes. Whether striking a pose in the “I’m flying” scene on the ship’s bow, pledging their eternal love in an Imperial Palace in China, or participating in the moon-landing scene especially for families, their performances will be captured and printed onto postcards alongside famous quotes.

    Meanwhile, lovers can take romantic snapshots in front of a 21sqm neon selfie wall with a colossal neon heart at the center. There are six selfie walls in different corners of the mall, with pose and shooting angle suggestions for the best images.

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  • Uber, Indian Oil To Offer Fuel Discounts To Drivers

    Uber, Indian Oil To Offer Fuel Discounts To Drivers

    Ride-hailing giant Uber on Thursday announced it is partnering with state-run Indian Oil Corp Ltd (IOCL) to offer discounts to drivers on petrol, diesel and CNG at IOCL petrol pumps across India. Over 12,000 Uber driver partners have already registered for this programme.

    “This partnership is targeted at easing the cost of fuel and giving back to driver partners who use the Uber App to earn a livelihood,” Prabhjeet Singh, Head of Cities, Uber India and South Asia, said in a statement.

    Uber launched its services in India in 2013 with its UberBLACK service and launched its premium UberX service in 2014. Uber currently operates in 31 cities in the country and aims to take its services to other, wider parts of the country.

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  • Tesla Promotes Lower Priced China-Made Model 3

    Tesla Promotes Lower Priced China-Made Model 3

    U.S. electric vehicle (EV) maker Tesla Inc said on Friday it would price its China-made Model 3 vehicles from 328,000 yuan ($47,529), 13% cheaper than those it currently imports as it pushes sales in the fast-growing market.

    The carmaker has been building a factory in China since January where its initial output will be Model 3 cars. Pre-orders for the vehicles will also start on Friday, the company said on its website.

    The “standard range plus Model 3” is 49,000 yuan cheaper than China’s current cheapest version, also standard range plus, even though it remains unclear whether the carmaker will qualify for China’s subsidies for new energy vehicles.

    The starting prices for five different versions of China-made Model 3s range from 328,000 to 522,000 yuan. Customers can expect to receive the car in 6-10 months, the company said in a press release.

    It also said buyers will only need to put down a deposit of 20,000 yuan and that financing options on offer meant that monthly payment installments will start from 1,100 yuan.

    “The price drop is to make Tesla more accessible,” it said.

    The higher-end version of the Model 3 will still be imported from the United States.

    Investors are focused on whether the gross profit margin on the Model 3 will remain around 20% in China.

    Doubts about the Model 3’s production rate and sales performance have hit Tesla’s share price in recent months.

    Producing cars locally is likely to help Tesla minimize the impact of Sino-U.S. tit-for-tat import tariffs, which has forced the EV maker to adjust the prices of its U.S.-made cars in China.

    Keeping prices in check will also help Tesla fend off competition from a swathe of domestic EV startups such as Nio Inc, Weltmeister and XPeng Motors, as well as established carmakers including Volkswagen AG and General Motors Co.

    Tesla’s so-called Gigafactory is China’s first wholly foreign-owned car plant and is seen as a reflection of the country’s broader shift to open up its car market.

    Pictures of the Shanghai plant posted on Tesla’s social-media account showed the construction of its main section was nearly done. The company also held a recruitment event this week for car manufacturing and logistics workers.

    Tesla forecast its deliveries in 2019 would reach 360,000 to 400,000 vehicles and said it may produce as many as 500,000 vehicles if its China factory reaches volume production in the fourth quarter.

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  • SoftBank signs 5G deals with Ericsson, Nokia

    SoftBank signs 5G deals with Ericsson, Nokia

    Japan’s SoftBank has signed 5G deployment contracts with both Ericsson and Nokia as it prepares to launch services over its newly-granted 5G spectrum.

    Ericsson has announced it has been selected as a primary vendor for the deployment of a multi-band 5G network utilizing Softbank’s 3.9-GHz to 4-GHz and 29.1-GHz to 29.5-GHz spectrum bands.

    SoftBank will deploy radio access network equipment including products from the Ericsson Radio System portfolio to allow it to enhance its existing LTE network while optimizing its 5G network.

    SoftBank and Ericsson have been trialing 5G technologies since 2015, and have since expanded their collaboration to include 5G testing of multi-bands, including 28-GHz and 4.5-GHz.

    SoftBank and Ericsson have been partners since the 2G era and we are thrilled to support them on this latest part of their technology journey,” Ericsson SVP and head of North East Asia Chris Houghton said.

    “With the help of our advanced product portfolio, SoftBank can unlock the potential of 5G for Japanese society and we look forward to building on our long-standing partnership.”

    Meanwhile SoftBank will deploy Nokia’s 5G AirScale technology across Japan, enabling the delivery of 5G mobile broadband, ultra-reliable low latency connectivity (URLLC) and machine type communication (eMTC) services.

    SoftBank plans to launch 5G services with Nokia’s AirScale solution in both distributed and centralized RAN configurations, according to Nokia Japan head John Harrington.

    “We are delighted to continue our long-term relationship with SoftBank and to be working with them as a trusted end to end partner at such an important milestone in the transformation to 5G. We are committed to help SoftBank launch their commercial 5G network.”

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  • BMW 1 Series Breaks Cover

    BMW 1 Series Breaks Cover

    The BMW 1 Series has been one of the most fun to drive hatchbacks over the previous generations and the automaker has now released the all-new generation of the model. The 2020 BMW 1 Series is quite literally all-new, having been built from the ground up and shares little details with its predecessor. The biggest change by far comes with the front-wheel-drive (FWD) set-up on the third generation that replaces the rear-wheel-drive architecture, which made it such a hoot to drive in the first place. The new 1 Series also comes with All-Wheel Drive (AWD) on the top trims. As a result, the new BMW 1 joins the automaker’s smaller set of FWD cars including the X1, 2 Series and the 1 Series sedan.

    The third generation BMW 1 Series is based on a completely new platform and the design language is also all-new and must we say more proportionate too over the older version. Most prominent are the larger kidney grilles up front that mimic the newer Beamer models, while the bonnet length is long yet in-line with the rest of the body. The headlamps are smartly designed bringing a fresh look and can be had with adaptive full-LEDs that are available as optional. At the sides, the flat beltline on the 1 Series is now slightly raked and the Hofmeister kink gets a subtle update. The rear sports a more athletic appearance with the sharply styled bumper, raked windscreen, and roof spoiler, while the massive wraparound LED taillights to look bold. A first on the new 1er will be the addition of a panoramic sunroof while wheel sizes will range between 16-inch and 19-inch depending on the variant you choose.

    With respect to dimensions, the 2020 1er is 5 mm shorter at 4319 mm (170 inches), whereas the width has increased by 34 mm at 1799 mm. The height is up by 13 mm to 1434 mm, with the wheelbase now shorter by 20 mm and sits at 2670 mm. Nevertheless, the FWD set-up has helped liberate more room in the cabin. You get 33 mm of additional knee room at the rear along with 19 mm of extra headroom and 13 mm of elbow room. The luxury hatchback can also take up more luggage than its predecessor with a cargo capacity of 380 liters, which can be expanded to 1200 liters with the rear seats folded. The automaker says the boot is also wider than before that makes it easy to load and unload luggage, while the tailgate is now electric.

    Inside, the 2020 BMW 1 Series replicates the familiar design language from the larger Beamer models. The car comes with an 8.8-inch touchscreen infotainment system with gesture control and Apple CarPlay compatibility. The instrument console is fully digital and gets a 10.25-inch screen that displays all the necessary information.

    Under the hood, the third generation BMW 1 Series will get two petrol and three diesel engines. The most powerful version will be the M135i xDrive with the 2.0-litre four-cylinder turbocharged motor tuned for 301 bhp and 450 Nm of peak torque. The range-topping model can sprint from 0-100 kmph in 4.8 seconds and has an electronically limited top speed of 250 kmph. An optional M performance package will further shave a tenth of a second on the hatchback. Other engines will range between three- and four-cylinder versions churning out as low as 115 bhp. All units will come paired with a 7-speed dual-clutch or 8-speed Steptronic automatic transmission. There’s a 6-speed manual available as well.

    The new 1 will also come with a host of electronic aids including Lane Departure Warning with active lane return, Active Cruise Control, Lane Change Warning system, rear collision warning and crossing traffic warning. The car also comes with Park Assist, while features like VDC (Variable Damper Control) and  ARB (actuator contiguous wheel slip limitation) technology, further improve the car’s handling capabilities. Customers can also opt for the BMW Digital Key and the BMW Intelligent Personal Assistant on the new 1 Series.

    The all-new BMW 1Series will make its debut in Munich from June 25 to 27 as part of the #NextGen event, while a public showcase has also been planned at Frankfurt in September this year. The previous version of the 1 Series was sold in India, but it’s unclear if the new one will actually make it here. Globally, the car will lock horns against the Mercedes-Benz A-Class, Audi A3 Sportback, Volkswagen Golf and the likes

  • Skoda Superb To Launch In India By Mid-2020

    Skoda Superb To Launch In India By Mid-2020

    It’s been just days since Skoda unveiled the 2020 Superb facelift and the company has confirmed that it will arrive in India by mid-2020. The 2020 Skoda Superb facelift is expected to launch in the second quarter of the next calendar year and the Czech carmaker is also evaluating the prospects of bringing in the plug-in hybrid variant for the Indian market. Yes! The Superb is also getting a plug-in-hybrid variant this time around.

    The plug-in-hybrid variant uses the 1.4-Litre TSI petrol engine which we have seen in the Audi A4 and it will be coupled with an electric motor to churn out 215 bhp in the amalgamation. The all-electric range is up to 55 km and up to 850 km can be covered when combined with the petrol engine. The hybrid powertrain uses a lithium-ion high-voltage battery which is positioned in the chassis floor in front of the rear axle. Skoda offers the Superb with a range of engine and transmission options to choose from. However, the other two options which are likely to be on sale in India are the 2.0-liter diesel and petrol engines. All the three powertrains are expected to be mated to the seven-speed DSG gearbox and will be BS6 complaint since they will launch after the emission norms will kick in.

    In terms of design, the 2020 Skoda Superb remains largely similar to the current model, save for the tweaked bumpers. The new bumpers have marginally added to its length, by 8 mm to 4,869 mm. However, its other dimensions remain unchanged. That said, the new Superb will be offered with some updated fitments. It gets sleek all-LED headlights along with daytime running lights and new position lights which now are stacked closer to the grille. It also gets 18-inch and 19-inch alloy wheels and the colors Crystal Black and Race Blue have been added to the range of customization options.

    On the inside, there are new chrome highlights on the instrument panel and door trims and the seat covers on the Ambition and Style variants are new as well. The Virtual Cockpit is optional and buyers can choose from three different infotainment systems, two of which also offer a navigation function. In the global market, the SmartLink technology comes as standard for all of the systems and enables access to smartphone apps via the infotainment system’s display. A SIM card provides Internet access, a Wi-Fi hotspot and access to the Skoda Connect mobile online services. The L&K version is fitted with a Canton sound system as standard.

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  • Facebook Portal now has its own Android app

    Facebook Portal now has its own Android app

    If you feel that you don’t have enough Facebook in your life, you’re free to buy the company’s new smart display – Portal. Unlike Amazon and Google, Facebook had developed Portal with video calling in mind, so that’s pretty what you’ll probably want to do most of the time with it.

    The Portal, in case you didn’t know, offers Facebook users with a new way to video chat with their friends. If you don’t like texting through Messenger too much and rather talk to your friends, Facebook Portal is the perfect device for it.

    And now that Facebook has decided to launch a Portal standalone Android app, you’ll now be able to better manage photos and videos that you want to store on the smart speaker. Having the app installed on the phone will allow users to send photos directly to the Portal’s Superframe.

    Also, you can use the Portal app to call the smart speaker in your home and talk to household members. Or, you can add people in your home to your Portal so that they can use the smart speaker with their own Facebook accounts.

    It’s a nifty app that makes it easier to take advantage of Facebook’s smart speaker by adding new functionality to the device. The Portal app has already been listed in the Google Play Store and you can download it for free.

  • Ferrari Hybrid Supercar Teased

    Ferrari Hybrid Supercar Teased

    Ferrari always gets our adrenaline pumping with its new models and this time it’s a new hybrid supercar. Just a day ahead of its unveil the Italian supercar maker took to Twitter to tease its upcoming model. Ferrari supercars have undergone significant powertrain upgrades in the last decade. The Ferrari 488 GTB was its first turbocharged model and this one will be the first hybrid supercar after the gorgeous La Ferrari hypercar and is expected to break cover on May 29.

    The silhouette of the car looks very similar to the track-focused Ferrari 488 Pista and F8 Tributo. However, in the teaser video it looks even more angular with a razor-sharp profile which makes it distinctive and different from other Ferraris. The angular headlamps look sleek and at the rear it gets the quad taillight setup. There is a massive diffuser underneath the dual-exhaust pipes, similar to what we have seen in the Tributo. Then there is also the integrated spoiler for drag efficiency.

    The new supercar is expected to launch with a 3.9-litre bi-turbo V8 motor which will be coupled with three electric motors. Two of them will be mounted on the front axle while the third one will be integrated into the gearbox to optimize the shifts. It will be offered with an all-wheel-drive setup and the powertrain in combination is expected to put out a whopping maximum output of 972 bhp which will help it clocking triple-digit speed in less than 2.0 seconds.

  • Bossini loss likely to be four times that of last year

    Bossini loss likely to be four times that of last year

    Bossini has issued a profit warning saying unseasonal weather and weak consumer sentiment is impacting sales.

    In a stock exchange filing in Hong Kong, where the company is listed, Bossini chairwoman Bess Tsin said unaudited consolidated management accounts of the group for the 10 months to April 30 indicate a loss attributable to shareholders of about HK$92 million (US$11.7 million) for the period.

    “Based on the management accounts and the information currently available, the group expects that the loss attributable to owners for the year ending June 30 would be higher than that shown in the management accounts by about 35 per cent.”

    That would equate to about $124 million, more than four times last year’s loss of $29 million.

    She said the final figure would depend on the trading results for May and June.

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