Retail News CRM

Author: Mei Ling Tan

  • Celcom Axiata appoints Idham Nawawi as new CEO

    Celcom Axiata appoints Idham Nawawi as new CEO

    Celcom Axiata Bhd has appointed Mohamad Idham Nawawi (pix) as its new CEO effective Sept 1, taking over the reins from Michael Kuehner whose tenure ends on Aug 31.

    The group said in a statement that the succession is part of the original plan two years ago to appoint an internal talent for its next phase of transformation and Idham was appointed following a thorough selection process.

    “As an internal talent with excellent management and operational experience within the group, as well as a member of the Celcom board, Idham is already well versed in Celcom’s strategic directions, operations and challenges. The board is confident Idham will be able to move quickly and efficiently to execute on the next phase of transformation,” it said.

    Idham has been with the group since 2012 and is currently the group chief corporate officer, responsible for regulatory management, corporate communications and sustainability, corporate affairs and government relations for the group. He also manages the group CEO’s office and the Axiata programme and governance office.

    Idham led the transformation programme office for Axiata 2.0 from 2012 to 2015, which was the impetus of Axiata’s expansion beyond its core mobile business into new digital services and tower business.

    As interim COO for Axiata Digital Services during its start-up phase in 2014, he was also instrumental in establishing the RM100 million Axiata Digital Innovation Fund targeted at developing Malaysian digital entrepreneurs.

    Idham has served as member of the board of directors in Axiata’s mobile operating companies in Malaysia, Cambodia, Bangladesh and Pakistan, and several Axiata Digital Services companies.

    Prior to joining Axiata, Idham was COO of Packet-One Networks (P1). He was previously head of strategy for Axis Telekom Indonesia and general manager at Maxis Communications Bhd, and had spent his early career with IBM Malaysia and Carl Zeis Inc in the USA.

    “We are pleased to welcome Idham as Celcom CEO. With his vast leadership and notable accomplishments in many roles, I am confident he will lead Celcom to the next level of transformation into a digital world as well as to pursue our profitable growth strategy. His decades of industry experience and familiarity of Celcom, being already a board member, will certainly help him to move quickly in the transition,” said Celcom chairman and Axiata president and group CEO Tan Sri Jamaludin Ibrahim.

    “At the same time, on behalf of the board of directors of Celcom and all of us, I would also like to take this opportunity to extend our gratitude to Michael for his immense contributions and for positioning Celcom solidly for the great opportunities ahead. We wish him all the best in his future endeavors,” he added.

    Kuehner, who took over from Datuk Seri Shazalli Ramly in September 2016, was previously the CEO of Robi Axiata Ltd in Bangladesh from 2009 till 2013.

    The group said his core strategy to provide the best customer experience in the industry saw Celcom achieve significant improvements in many areas in products and services, network quality and coverage especially in the deployment of 4G, sales and distribution as well as digitisation.

    Lees ook:

    Lees ook:

    Lees ook:

  • Singapore tourist spends less

    Singapore tourist spends less

    Singapore tourist spending has dipped by half a percent, despite a 7.3 per cent boost in arrivals.

    According to the Singapore Tourism Board, about 4.6 million visitors arrived in the city state in the first quarter of this year – but they spent less on shopping and accommodation. Their total collective spend was about S$6.7 billion.

    According to the government data, tourist spending on shopping declined 9 per cent, with accommodation spending down 13 per cent and food and beverage down by 16 per cent.

    Instead of spending in shops, hotels and eateries, tourists splurged on sightseeing, gambling and entertainment, collectively up by 6 per cent.

    China, Indonesia and India were Singapore’s largest source of visitors and spending during the quarter.

    Lees ook:

    Lees ook:

    Lees ook:

  • Vietnamese men world’s top alcohol consumers

    Vietnamese men world’s top alcohol consumers

    Vietnamese men drink over five standard drinks a day on average, according to the 2016 Global Burden of Disease Study.

    A standard drink contains 10 grams of alcohol.

    Balkan countries and Portugal are the others that have the same level of consumption, according to the report, which uses data from 592 studies on the risk of alcohol use done between 1990 and 2016.

    In contrast, Vietnamese women are among the smallest consumers of alcoholic drinks in the world with less than one standard drink a day, the report said.

    While 40 to 59.9 percent of Vietnamese men drink alcohol, which is the global median, only 19.9 percent of women do so, it added.

    Earlier this month the World Health Organization (WHO) said the high consumption of beer and alcohol in Vietnam was imposing a heavy burden on the country in the form of non-contagious diseases.

    A Vietnamese adult above 15 years of age drinks 8.3 liters of pure alcohol per year on average, much higher than in China (7.2 liters), Cambodia (6.7), the Philippines (6.6) and Singapore (2), according to WHO.

    The country spends $3.4 billion on alcohol each year, or 3 percent of the government’s revenues, according to official data.

    The local market, which is growing steadily at 5 percent a year, is dominated by four strong companies, Sabeco, Habeco, Heineken, and Hue Brewery (owned by Carlsberg), which accounted for 90 percent of the beer market last year.

    Lees ook:

  • Online boosted 361 Degrees sales growth

    Online boosted 361 Degrees sales growth

    Sportswear retailer 361 Degrees International believes sponsorships of the Asia Games in Indonesia this month, and a focus on e-commerce are helping it attract younger customers.

    The Hong Kong-listed, Mainland China retailer of sports apparel, says sales increased 7.8 per cent in the first half year to RMB2.798 billion (US$411 million), with profit attributable to shareholders up 5.3 per cent to RMB335 million.

    361 Degrees sponsored the debut of esports as a demonstration sport at the Jakarta Palembang Asian Games and has a broader involvement in the fast-growing market.

    “As the youngest leading sports brand in China, 361 Degrees has been committed to establishing a youthful brand image,” said chairman Ding Huihuang.

    In the first half of this year, 361 Degrees launched sportswear and accessories products jointly with QG Club, a mainland esports championship team.

    “In the future, the group will promote the 361 Degrees brand among esports customers, cooperate with more esports teams, increase the esports product lineup, explore multiple sales modes such as physical store sales, and add an esports zone on e-commerce platforms to approach younger generation with the esports and blaze a trail for attracting young generation consumers,” he said.

    Meanwhile, 361 Degrees’ e-commerce business increased by 185.5 per cent to RMB328.9 million, representing 10.9 per cent of the group’s turnover in the first half of this year, compared with just 4.1 per cent in the same period last year.

    In the second half of this year, the group says it plans to continue to optimise its sales network and strengthen cooperation with e-commerce platforms such as Tmall, JD and Vipshop to promote the combination of online and offline sales channels.

    Lees ook:

    Lees ook:

  • Rado new Suria KLCC boutique open door

    Rado new Suria KLCC boutique open door

    Swiss watchmaker Rado has launched a new boutique at Suria KLCC.

    The brand’s largest store in Malaysia, the store’s layout represents Rado’s latest minimal design concepts contrasted with textured and handcrafted materials. Rado is generally known for its use of unusual materials to create exceptionally durable watches.

    The store is exclusively hosting the brand’s new True Thinline Nature collection, designed in collaboration with Italian historical garden organisation Grandi Giardini Italiani.

    The store’s star-studded launch function featured a fashion show and a showcase of the brand’s latest collections, focusing on Rado’s theme for the year The Elements of Time.

  • Indonesia to Unveil Higher Import Tariffs Soon Amid Push to Aid Rupiah

    Indonesia to Unveil Higher Import Tariffs Soon Amid Push to Aid Rupiah

    Indonesia will release a list of goods subject to higher import taxes in the next few weeks, ministers said on Friday (24/08), part of efforts to shrink a widening current account deficit and curb pressure on its shaky currency.

    The rupiah on Friday slipped to 14,660 to the dollar, its weakest level since October 2015.

    A central bank official on Thursday blamed the rupiah’s drop on high demand for dollars by local importers. But the currency has also been caught up in a flight from emerging market assets as US interest rates rise and worries about global trade fights increase.

    Indonesia’s July trade deficit was the biggest in five years and the second-quarter current account deficit, at 3 percent of gross domestic product, was the largest in nearly four years.

    “We are reviewing 900 imported commodities to see the domestic industry’s capability in producing them,” Finance Minister Sri Mulyani Indrawati told a news conference with other ministries and Bank Indonesia (BI).

    Indrawati previously said the government would impose a 7.5 percent tariff on about 500 imported goods that can be locally made.

    Southeast Asia’s largest economy currently applies a 2.5 percent import tax on a vast range of products for registered importers, but it charges 7.5 percent for unregistered importers.

    Suahasil Nazara, head of the finance ministry’s fiscal policy office, said the government was rethinking the tariff difference between registered and unregistered importers.

    “We will hike the import tariffs from the current rates to give a signal, ‘let’s use domestic production,’ ” Nazara said.

    Trade Minister Enggartiasto Lukita said the measures to contain imports should not disrupt investment because the list would not include raw materials for production.

    A senior government official told the list, which is not finalised, will focus on semi-durable and perishable goods, including consumer goods used by hotels and restaurants.

    Stabilising the rupiah has been a top priority for the government and BI. The central bank has raised interest rates four times by a total of 125 basis points since mid-May.

    BI governor Perry Warjiyo said the central bank continues to intervene in the FX and bond markets to defend the currency.

    The government’s measures to control imports also include delaying some infrastructure projects and forcing a greater use of biodiesel.

    Lees ook:

  • Lotte Duty Free takes over Australia and NZ stores ownership

    Lotte Duty Free takes over Australia and NZ stores ownership

    Lotte Duty Free has bought a change of outlets in Australia and New Zealand from local operator JR Duty Free.

    The four Australian stories are in airports in Brisbane, Darwin and Canberra and in downtown Melbourne, while the New Zealand store is at Wellington airport.

    JR Duty Free reportedly operates seven stores in Oceania and five shops in Israel. Its revenue last year was US$617 million.

    Financial details of the deal were not revealed.

    Lotte Duty Free believes growing numbers of Chinese tourists into Oceania offer an opportunity to grow its business in the two markets.

    The South Korean company has been steadily enlarging its global footprint since 2012, expanding into Vietnam, Japan, Thailand, Indonesia and the US.

    Lees ook:

    Lees ook:

  • CIMB Bank Philippines teams up with G-Xchange for marketing of financial products

    CIMB Bank Philippines teams up with G-Xchange for marketing of financial products

    CIMB Bank Philippines Inc has signed a memorandum of agreement with G-Xchange, Inc (GXI) for the purpose of creating and marketing financial products on the latter’s digital platform in the Philippines.

    In a filing with Bursa Malaysia, CIMB Group Holdings Bhd said the agreement will be effective for three years from the signing date.

    CIMB Bank Philippines is a foreign bank branch of CIMB Bank Bhd, a 99.99% subsidiary of CIMB Group Sdn Bhd, which in turn is a wholly owned subsidiary of CIMB Group Holdings.

    GXI is a wholly owned subsidiary of Globe Fintech Innovations, Inc, which in turn is owned by Ant Financial, Ayala Corporation and Globe Telecom.

    CIMB Group Holdings’ share price rose 0.67% or 4 sen to close at RM5.98 with 8.52 million shares traded on Friday.

    Lees ook:

  • India fastest growing market for Uber Eats globally

    India fastest growing market for Uber Eats globally

    US-based Uber said India is the fastest growing market for its food delivery platform Uber Eats and the service is being rapidly expanded to cover more Indian cities.

    Uber had launched Uber Eats in India in May last year and recently expanded the service to five more Indian cities — Tiruchirappalli, Surat, Nashik, Ludhiana and Mysore — to now cover 28 cities.

    “India continues to be the fastest growing market for Uber Eats in the Asia Pacific region and globally. As urbanisation picks up in the country, we look for opportunities to take our service to newer cities and expand our network, especially in tier II cities, which we believe, offer tremendous potential for the food tech industry,” Bhavik Rathod, Head of Uber Eats India said in a statement.

    While the company did not disclose specific numbers, it said the number of orders on its platform has “more than quadrupled” in the last three months and recorded nearly 50 percent month-on-month growth.

    Interestingly, Vijayawada and Madurai were the first two cities where Uber Eats was launched before the rides service. Uber CEO Dara Khosrowshahi had recently said the company is “deliberately investing” in products like Uber Eats and “high-potential” markets in the Middle East and India, even though its losses widened year-on-year in the June 2018 quarter.

    According to a report: Globally, the Uber Eats business is growing 200 percent per year and has a US $6 billion run rate. Uber Eats was started in 2014 as a small delivery pilot in Los Angeles and was later launched as a separate mobile app in Toronto in December 2015. In India, Uber Eats competes with the likes of Zomato and Swiggy as well as FoodPanda, which is owned by Uber’s rival, Ola.

    Lees ook:

  • SportsDirect Malaysia opens its largest store

    SportsDirect Malaysia opens its largest store

    SportsDirect Malaysia has opened its largest store yet in the country, at Section 51A.

    The British sporting goods retailer’s new Petaling Jaya flagship, together with sister company MST Golf, comprise a 41,000sqft joint destination that is the largest sporting goods retail outlet in the country. The opening reflects the reportedly significant success of the brand in Malaysia.

    Divided into zones for easier navigation, the new SportsDirect Malaysia stores sells a broad range of international sporting brands.

    SportsDirect Malaysia MD Paul Gibbons said: “We are committed to be the leading sports and lifestyle retailer internationally by offering our customers an unrivalled range of high quality leading brands. This store alone carries an inventory of over 23,000 pairs of sports shoes to cover all our consumer requirements”.

    Lees ook:

  • Bitcoin mining makers plan Hong Kong IPOs

    Bitcoin mining makers plan Hong Kong IPOs

    Three of the world’s largest bitcoin mining equipment makers plan to raise billions of dollars with initial public offerings in Hong Kong, even as other companies report plunging demand for the chips needed to make bitcoin and a halving in the price of the cryptocurrency.

    Soaring cryptocurrency prices last year triggered a boom in demand for specialist mining chips and in developing “mines” – facilities with thousands of machines that create the coins by solving complex mathematical puzzles.

    Yet the U.S. chipmaker Nvidia said this month that second-quarter sales to crypto miners totaled just $18 million, compared with $100 million expected by analysts.

    Nvidia’s chief financial officer, Colette Kress, said she anticipated “no contribution” to revenues from cryptocurrency in coming months.

    That has raised concerns about the upcoming Hong Kong listings by three Chinese manufacturers of bitcoin mining equipment, Bitmain, Canaan and Ebang International Holdings.

    The companies all design high-end computer chips intended for mining cryptocurrencies, particularly bitcoin, and sell mining equipment containing the chips. In addition, Bitmain mines cryptocurrencies on its own account. Companies like Nvidia also sell specialty chips used for mining.

    “The marked decline in the price of bitcoin since the start of the year is likely to weigh on investors’ interest in these companies,” said Benjamin Quinlan, chief executive of financial services consultancy Quinlan & Associates.

    But, he added, “the fall in the price of bitcoin from its peaks has not been matched by an equivalent fall in the numbers of people mining it.”

    Bitcoin is currently trading at $6,699, down 64 percent from its December 2017 peak of $18,690. Daily mining revenue was 77 percent lower than in December, according to Blockchain.info, a data analytics and wallet provider.

    “As the bitcoin price decreases, so does the profitability of mining itself, which decreases demand for mining chips and miners,” said Wang Leilei, a consultant at financial services consultancy Kapronasia.

    It is not just the price of bitcoin that is causing worries.

    People close to the IPOs said regulatory scrutiny and a patchy performance by Hong Kong offerings this year were additional concerns.

    Julian Hosp, president of TenX, a Singapore-based blockchain firm, has also warned that if coins switch mining algorithms, then the machines designed to mine them would become useless.

    “I would be quite wary of investing in these miners,” Hosp said, referring to the equipment makers. “They are not long-term businesses and I think they’ve had their uptrend for now.”

    Canaan and Ebang filed plans in May and June respectively for floats in Hong Kong, while Bitmain is expected to file its plans next month for an IPO in which it aims to raise at least $3 billion, sources close to the deal said.

    Cryptocurrency trading is a global activity, but Chinese chipmakers have led the way in developing the most efficient means to mine the coins.

    Bitmain had three quarters of the market for the specialist chips last year, followed by Canaan on 14 percent, according to estimates by analysts at Bernstein.

    Ebang is aiming to raise up to $1 billion, according to sources, while Canaan is targeting at least $400 million – down from a figure of up to $2 billion touted earlier this year by people involved in the deal.

    While EBang is expected to face Hong Kong’s listing committee in September – a key approval needed for marketing the IPO – Canaan’s offering is taking longer.

    A source close to Bitmain’s IPO said the company was aware about the potential for close regulatory scrutiny.

  • Foreigners big investors in Hanoi, HCMC 5-star hotels

    Foreigners big investors in Hanoi, HCMC 5-star hotels

    More than half of five-star hotels in HCMC and Hanoi are owned by foreign investors.

    Ten out of 19 five-star hotels in the best locations in HCMC have foreign owners, according to data. They include Sheraton, Caravelle, InterContinental, Asiana Saigon, and Sofitel.

    Many of the foreign investors came to the country in the last two decades and first began by partnering local firms.

    One of them, Singapore-based Glynhill Investment Vietnam, established the $61.5 million Caravelle together with travel agency Saigon Tourist in 1992.

    In 1994 Lam Ho Investments, another Singaporean firm, signed a deal with Saigon Tourist to build the Sheraton hotel at a cost of $97 million.

    UOL Group, one of Singapore’s top real estate firms, picked up a 26 percent stake in the five-star Sofitel Saigon through its subsidiary, the Pan Pacific Hotel Group.

    Hong Kong investors also own stakes at premium hotels in HCMC. One of them, Keck Seng Investments, has a 64 percent stake in the Sheraton and 25 percent in Caravelle.

    Koreans, late entrants in the market, have been making major acquisitions in the last five years.

    In 2013 Lotte Hotels & Resort bought a 70 percent stake in the Legend Hotel from Japan’s Kotobuki Corporation.

    Lotte also manages the hotel, which overlooks the Saigon River.

    The company considers the hotel the first step in its expansion into Vietnam and Asia.

    In Hanoi, nine of 16 five-star hotels have foreigners as major shareholders.

    They have been investing in the sector for decades, with Hanoi Westlake, Melia, Sheraton, Daewoo, Nikko, and Pan Pacific being the major names.

    Malaysia’s Berjaya Corporation Berhad owns 75 percent of InterContinental Westlake and 70 percent of Sheraton.

    Other Korean firms own stakes in Lotte, Intercontinental Hanoi Landmark 72 and Grand Plaza.

    Vo Quoc Phuong Trang, head of Investment Consultancy said that international firms usually seek to own major stakes to enable them to take part in the hotels’ development and management.

    Hanoi and HCMC, with their steady economic and tourism growth, would continue to draw foreign investors in the high-end hotel segment, which has low risk but offers steady revenues, she said.

    As of last year there were 118 five-star hotels/resorts in Vietnam, almost twice the number in 2013.

    They had an occupancy rate of over 75 percent, 5 percentage points up from 2016, according to global consulting firm Grant Thornton.

    Lees ook:

    Lees ook:

  • Trinity blooms under Shandong Ruyi

    Trinity blooms under Shandong Ruyi

    Menswear retailer Trinity has announced double-digit same-store sales growth in its first half year.

    The period coincides with Shandong Ruyi International Fashion Industry Investment Holding taking a controlling interest in the group last April.

    During the review period, the group’s total revenue increased by 3.2 per cent compared to the same period last year to HK$890.1 million (US$113.4 million).

    Retail sales and same-stores sales recorded a growth of 8.1 per cent and 10.1 per cent respectively year-on-year. The increment was partly offset by the decrease in wholesale revenue as a result of the strategic shift from wholesaling to licensing to improve the long-term profitability of the group.

    The gross profit margin remained stable at 69.6 per cent as a result of the continued discounting trend.

    Trinity chairman Qiu Yafu said: “The recent licensing arrangements between Trinity and Ruyi will further strengthen the presence of our premium brands, Cerruti 1881, Kent & Curwen and Gieves & Hawkes, in key European markets and enable the group to refocus its resources to develop its core business in the greater China region. Capitalising on Ruyi’s international exposure and experience, we are confident Trinity will further consolidate its position globally and further penetrate the Chinese Mainland market.”

    Lees ook:

  • Indonesia’s Pertamina EP Discovers New Gas and Oil Reserve

    Indonesia’s Pertamina EP Discovers New Gas and Oil Reserve

    Pertamina Exploration and Production, the exploration arm of state energy firm Pertamina, announced on Thursday (23/08) a discovery of a new gas, oil and condensate reserve in West Java.

    The company, known also as Pertamina EP, found the reserve while drilling the Akasia Maju wells at the company’s Jatibarang field in Indramayu. The operation was completed on Monday, at a final depth of 2,517 meters.

    In a production test, from one of the wells the company managed to extract 1,700 barrels of oil per day. Currently, the Jatibarang field produces 5,180 barrels of oil per day. The company wants increase it to 5,890 barrels.

    “Thank god all the effort we’ve put into it gave positive results. We’re certain that with our synergy and hard work we can contribute to the nation’s achievements in production,” Pertamina EP exploration and new discovery project director Achmad Alfian Husein, said.

    The discovery also opens the possibility of further exploration of the area.

    Jatibarang field has been in operation since 2017. Pertamina EP currently manages 50 onshore structures and one offshore, with 170 oil and gas producing wells in the field.

    Lees ook:

  • Emart’s 2nd-gen Pepper is chattier than before

    Emart’s 2nd-gen Pepper is chattier than before

    An upgraded version of Emart’s humanoid Pepper robot will start roaming the aisles of the retailer’s Seongsu branch in eastern Seoul starting tomorrow.

    Pepper is a humanoid robot developed by Japan’s SoftBank Robotics. Its main function is emotional perception and communication with humans at stores or at home. Emart developed programs tailored to using Pepper as an assistant to customers.

    The company said Monday the robot will serve as a guide for customers at the Seongsu branch’s imported food section three times a day between tomorrow and Sept. 12.

    This is the second test run for Pepper. Emart first sent the robot to its Seongsu store in May. The difference from three months ago is that Pepper can now move by itself.

    Pepper’s conversation skills have also received an upgrade. In May, Pepper was able to respond to simple questions on promotion events and offer product information after recognizing products with its camera.

    The new Pepper is smarter. It now has an artificial intelligence-based chat function that helps it engage in longer conversations. The robot also has access to data from SSG.com, the ecommerce website of Emart’s parent company Shinsegae, so it can make suggestions from various product categories. “For example, Pepper can spot a consumer lingering around the imported food corner, step up to them to ask which dish they plan to cook and propose a sauce that would best suit their needs,” said Emart in a statement.

    Many retailers are finding ways to use technology to downsize their workforce. The most common form of automated retail is electronic kiosks. Many eateries, from chains like McDonald’s to local non-franchise eateries, have machines for taking orders.

    Service robots like Pepper are becoming increasingly popular. Delivery app Baedal Minjok launched the robot server Dilly at a Pizza Hut branch earlier this month to transfer pizza from the kitchen to tables. In January, local coffee franchise Dal.komm Coffee launched b;eat, an automated coffee-making robot, which it installed at 10 of its coffee shops across Korea.

    “The primary purpose for the service robots that are coming out nowadays is to offer an entertaining point to enhance the consumer experience at their stores,” said Ryu Han-seok, an IT columnist. “Brick-and-mortar retailers haven’t had anything attractive and differentiating to show to consumers recently.”