Retail News CRM

Author: Mei Ling Tan

  • HCM City metro projects short on capital

    HCM City metro projects short on capital

    A shortage of capital is the key problem of both Line 1 (Ben Thanh – Suoi Tien) and Line 2 (Ben Thanh – Tham Luong) urban railway projects.  The Ho Chi Minh City People’s Committee is the developer responsible for the two projects. At the Metro Ben Thanh-Suoi Tien project, the developer has been slow to pay contractors and may have to pay interest on late payment.

    According to a report submitted to the Ministry of Transport at the beginning of March 2017 by Le Van Khoa, deputy chairman of the Ho Chi Minh City People’s Committee, the payments for four construction packages have been delayed since September 2016.

    The reason is that the ODA capital provided for Ho Chi Minh City was only VND592.693 trillion ($26 million), a much lower amount compared to the VND1.95 trillion ($85.17 million) payable for the contractors.

    To deal with the current shortage, Ho Chi Minh City had to withdraw VND600 billion ($26.3 million) from the city budget to pay in advance for the consulting companies and contractors.

    With the current progress, although package No. 1a was started in November 17, 2016, the authority cannot pay the contractors as promised.

    Accordingly, by February 15, 2017, Ho Chi Minh City’s Urban Railway Management Boardwould have to pay in advance the amount of VND571 billion ($25 million).

    In case the developer fails to pay, the contract will be extended, which will result in numerous incurred additional expenses.

    Khoa said that the estimated ODA capital for Metro Line 1 is VND2.119 trillion ($93 million) in 2017.

    However, the project’s capital has not been added to the country’s plan on using ODA, which significantly affected the construction progress.

    By the end of February 2017, package No. 1b, used for the constructions of the stations between Saigon Opera House and Ben Thanh, was 41 per cent completed, while package No. 2 toconstruct the 17.1-kilometre stretch plus depots between Ba Son and Binh Duong was 65 per cent completed.

    Package No. 3 for the purchase of electromechanical equipment, locomotives, carriages, and railway tracks was 12 per cent completed.

    In general, the total disbursement of the project is VND10.9 trillion ($477 million), of which VND9.712 trillion ($425 million) is sourced from ODA.

    If the Japanese and Vietnamese contractors progress as scheduled, the total value of the completed parts in 2017 may reach VND5.320 trillion ($233 million).

    “The project should receive more ODA. It is essential to ensure the project’s progress as committed, as well as to avoid other incurred expenses, late payment penalties, and lawsuits from foreign contractors,” said the report.

    The 19.7-kilometre Ben Thanh-Suoi Tien Line goes through District 1 (Binh Thanh), District 2 (Thu Duc), District 9, and ends in Binh Duong Province (Di An District).

    Of the total, the underground parts are 2.6 kilometres, and the overhead parts are 17.1 kilometres long.

    The total investment after three adjustments has increased from VND14.415 trillion ($631 million) to VND47.325 trillion ($2.07 billion).

    The construction of the overhead part has been on-going since August 2012.

    The maximum speed along the line will be 80 kilometres per hour on the underground sections and 110 kilometres per hour on the bridge. It is forecasted to begin test runs in 2019 and be officially put into operation in 2020.

    Metro Line 2 in a worse spot

    Although Metro Line 1 is in slow progress, at least it has a forecasted launching period, while Line 2, which is also managed by Ho Chi Minh City’s Urban Railway Management Board, is struggling with investment adjustments and updating bid documents.

    Accordingly, the total investment of Metro Ben Thanh-Tham Luong is proposed to be VND47.605 trillion ($2.152,36 million), an increase of 56.6 per cent compared to the initial planned investment in 2010.

    The three biggest increases derive from land clearance, which rose from $119.38 million to $197.88 million; installation and purchase, which went from VND748.11 billion ($33 million) to VND1.198 trillion ($52 million); and reserves, which increased from $263 million to $368 million.

    By the end of February 2017, after six years of construction works, the disbursement was only VND700 billion ($31 million), including VND572 billion ($25 million) of ODA capital, which is equivalent to three per cent of the expected sum total.

    A representative of the Ho Chi Minh City Urban Railway Management Board admitted that implementation was slow compared to the promised schedule because the design has been adjusted.

    Additionally, the different instructions issued by the sponsors and the Vietnamese government on picking contractors and the elongated time for collecting feedback from sponsors also contributed to the slow going.

    As the most important Metro line in Ho Chi Minh City, the Ben Thanh-Tham Luong line will go from the new urban area Thu Thiem (District 2) and end in An Suong (District 12). It is forecasted that by 2025, it will handle 481,700 passengers a day.

    Besides the sharp increase in capitalisation, the launch will be delayed to 2024, despite initial promises to complete works by the end of 2016, as specified in Decision No 4474/QD – UBND approved by the Ho Chi Minh City People’s Committee.

    “The Ho Chi Minh City People’s Committee should review the implementation progress of each package used in these projects and have appropriate solutions to avoid the extension of process, which may lead to an increase in total investment, administration, and interest expenses, exchange rate risks, and fluctuations in construction material prices,” an expert said.

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  • 3 Hong Kong upgrading network to prepare for 5G

    3 Hong Kong upgrading network to prepare for 5G

    Hutchison Telecommunications Hong Kong Holding’s mobile division 3 Hong Kong has teamed up with Huawei to upgrade its mobile network in preparation for the 5G era.

    The operator is adopting five component carrier aggregation (5CC CA) using its extensive spectrum holdings across the 1800-MHz, 2100-MHz, 2300-MHz and 2600-MHz bands with both FDD and TDD technology.

    Huawei will also upgrade the network to support 4×4 MIMO and 256 quadrature amplitude modulation (QAM) technology, to enable 3 Hong Kong to provide customers with data download speeds of over 1.2Gbps.

    In addition to these 4.5G technologies, 3 Hong Kong has started planning for the deployment of 4G technologies based on network cloudification.

    The partners have already deployed Huawei’s CloudEdge technology on the 3 Hong Kong core network and are now applying CloudRAN technology to the wireless access network. The operator also plans to adopt Huawei’s CloudAIR air interface cloud technology.

    A Massive MIMO base station has also been built in Causeway Bay to conduct field tests of the 5G technology, and 3 Hong Kong plans to continue the deployment of Massive MIMO in key locations within the year.

    “As we move towards the 5G and IoT era, 3 Hong Kong is actively deploying 5G technologies and upgrading its existing network architecture,” HTHKH executive director and CEO Cliff Woo Chiu-man said.

    “In addition to using CA technology with 5CC, we have conducted research and carried out trials for various technologies, such as small cell installations, network cloudification, NFV and Massive MIMO towards the 5G era. These  efforts will enable the timely launch of services to meet market demand as soon as the 5G  standard and Hong Kong’s spectrum plans are confirmed.”

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  • Samsung details Samsung DeX

    Samsung details Samsung DeX

    Samsung is introducing Samsung DeX that – when combined with Citrix Receiver – converts the new Samsung Galaxy S8 into a desktop environment including an optimized UI for multi-tasking a desktop environment with keyboard and mouse support, resizable window capabilities, a task bar, pop-up notifications and more.

    The combination of Citrix and Samsung DeX unboxes the phone and provides employees with secure access to their digital workspace and all of the business apps and data they need to get their work done. Samsung exclusively showcased Citrix in Samsung DeX demos with XenApp and XenDesktop and Citrix Receiver to media, customers and analysts during the Samsung Unpacked event at the Samsung B2B Analyst Day in New York City.

    In addition to the preferred solution that combines Citrix innovation with Samsung DeX, Citrix also offers support and integration for Samsung devices that include XenMobile enterprise mobility management, security features and secure virtual access to apps and desktops through XenApp and XenDesktop, and support for Secure Apps with Samsung Knox at the native Android OS layer.

    Citrix XenMobile also supports new Samsung capability known as Enterprise Firmware- Over-The-Air (E-FOTA). Samsung E-FOTA enables IT admins to take greater control over when devices get updated, as well as what version is updated. This Samsung capability provides IT with native device control without sacrificing user flexibility.

    “While many people use their smartphones for business, they usually turn to a laptop or desktop when they need to use Windows or browser-based apps, said Maribel Lopez, founder and principal analyst, Lopez Research.

    “Even though VDI or app virtualization lets them run Windows applications on their smartphone, the Windows experience does not always translate well to a small touchscreen. To address this issue, vendors have worked to develop solutions that make it easier to connect smartphones to a keyboard, mouse and a monitor. The solution that succeeds has significant market potential.”

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  • Ford to invest more than 1.3 bln yuan in Nanjing research centre

    Ford to invest more than 1.3 bln yuan in Nanjing research centre

    Ford Motor Says to invest more than 1.3 billion yuan ($188.47 million)in research and engineering centre in China’s Nanjing city by end-2020.

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  • Asos posts half year profit increase

    Asos posts half year profit increase

    Online fashion retailer, Asos, has posted a 14 per cent increase in profits for the six months to the end of February to £27.3 million.

    The company saw a 31 per cent increase in sales to £889.2 million. UK retail sales rose by 18 per cent and international sales went up by 42 per cent.

    Sofie Willmott, senior retail analyst at GlobalData, said Asos’ broad product range sold on local language and currency platforms, along with its aggressive delivery proposition and responsive pricing, allows it to steal market share from well-established international and local players.

    “Asos’ mobile-first approach has paid off with mobile devices now accounting for 58 per cent of orders and 70 per cent of traffic,” she said.

    Willmott said competitors targeting the 16-34 age group should take note that a spotlight on mobile functionality to create a smooth, and enjoyable, shopping journey will drive visitor-purchaser conversion.

    “In a period of weak volume growth, retailers must use mobile channels to capitalise on frequent engagement and implement fast and simple checkouts to capture impulse spend.”

    According to Willmott, Asos has continued to strengthen its product offer by introducing new brands, including competitors Miss Selfridge and Burton, while also broadening its own label offer into niche product areas such as plus size for men which was recently introduced and activewear due to launch in 2017 – allowing Asos to target a larger customer base.

    “Meanwhile, the number of UK Asos premier customers lifted 41 per cent on last year, leading to an eight per cent rise in order frequency in the UK.”

    GlobalData research shows Asos is market leading in driving spend through its delivery subscription scheme, with 60 per cent of consumers shopping at Asos more often since signing up.

    Despite a 14.3 per cent rise in operating profit to £27.1 million, operating margins fell to 2.9 per cent from 3.6 per cent last year, signalling the impact of the highly promotional sector.

    “Since Asos is committed to keeping prices stable despite higher inflation in 2017, we forecast margins to weaken further in H2.”

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  • Philippine Seven returns 16 per cent profit growth

    Philippine Seven returns 16 per cent profit growth

    Convenience store group Philippine Seven (PSC) had 16.6 per cent growth in net profit last year to reach P1.18 billion (US$23.5 million).

    Its figures were boosted by store openings and “modest” growth in same-store sales, says the 7-Eleven licensee.
    Its system-wide sales grew 23.2 per cent to P31.8 billion, attributed to store growth alongside a 1.2 per cent increase in same-store sales. The store count by year end reached 1995, up 393 outlets or 24.5 per cent from the previous year.

    There were 1633 7-Eleven stores in Luzon, 808 of them in Metro Manila, with 255 in Visayas and 107 in Mindanao. Franchisees control 55 per cent of stores, with the balance owned by the company.

    PSC says its spending on capacity building, such as establishing distribution centers and regional headquarters, is starting to produce results.

    “We aim to further expand our product offering, remodel stores and implement our market-development plan over the next five years,” says the company.

    PSC’s average net margin eased to 4.1 per cent last year from 4.5 per cent in 2015. For the fourth quarter alone last year, net margin stood at 7 per cent, down from 7.4 per cent for the same period in the previous year.

    For the quarter alone, net profit increased by 8 per cent to P532.1 million while system-wide sales ballooned by 20 per cent to P8.75 billion.

    This year PSC has budgeted capital expenditure of at least P3.5 billion to support its store expansion strategy.

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  • L Catterton Asia launches beachwear platform

    L Catterton Asia launches beachwear platform

    Australian swimwear brand Seafolly and Colombian beachwear brand Maaji are the first signings for a global lifestyle platform launched by L Catterton Asia.

    Based in Singapore, L Catterton Asia is an arm of private equity firm L Catterton, formed last year through a partnership between Catterton, LVMH and Groupe Arnault. It will be the controlling shareholder of the combined business, with the Maaji and Seafolly founders as minority shareholders.

    It is the first step in the aggregation of the fragmented swimwear/beachwear industry.

    Seafolly was founded in 1975 by Peter and Yvonne Halas, and has been led by Anthony Halas since he became CEO in 1998. He has built the business across international markets in Europe, North America and Asia. L Catterton Asia acquired a controlling interest in the brand in December 2014, and now it is sold in 41 countries (there are four stores in Singapore) as well as online.

    Maaji was founded by sisters Manuela and Amalia Sierra in 2002, and has a presence in more than 54 countries.

    “With this unparalleled combination of Maaji and Seafolly we look to grow our portfolio and create the largest independent house of beach lifestyle brands,” says L Catterton Asia chairman/managing partner Ravi Thakran. “This combination will drive many synergies, including geographic expansion, retail rollout and product sourcing.”

    L Catterton Asia’s goal is to preserve each brand’s DNA and heritage, while enabling the brands to enhance their global growth.

    Previously known as L Capital Asia, L Catterton Asia was launched in 2009 and manages more than US$1.6 billion across two private equity funds, and more than US$2 billion including co-investments. It has offices in Singapore and Mauritius, with further regional advisory presence in Hong Kong, Mumbai, Shanghai and Sydney. Its investments include Charles & Keith, Crystal Jade, Pepe Jeans Group and YG Entertainment, which promotes Korean singers and entertainers like Big Bang and Psy.

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  • Jollibee Foods JV to open door to Europe

    Jollibee Foods JV to open door to Europe

    Philippine foodservice giant Jollibee Foods (JFC) has entered into a JV agreement with Singapore-based Blackbird Holdings to take the Jollibee brand to the European market.

    JFC’s wholly owned subsidiary Golden Plate has signed the deal with Blackbird to own and run the first Jollibee store in Italy. Golden Plate and Blackbird will incorporate a Singapore company, a 75:25 JV, with Golden Plate holding the controlling stake. The two companies are looking at investing more than US$1 million in the JV.

    Established in 2014, Blackbird has investments both in Singapore and the Philippines in the F&B and other sectors.
    Jollibee says Golden Plate will have full management control of the JV and the first store. Jollibee’s strategy is still to find a territorial franchisee for Italy with the capability to develop and expand the brand there.

    Jollibee has the largest foodservice network in the Philippines and has more than 3290 stores worldwide including such brands as Burger King, Chowking and Red Ribbon. In China it has Dunkin Donuts, Hong Zhuang Yuan, Jollibee and Yonghe King.

    JFC has Jollibee stores in Vietnam (86), Brunei (14), Singapore (4), Hong Kong (3).

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  • China’s healthy snack trend creates opportunities

    China’s healthy snack trend creates opportunities

    China’s healthy snack trend is creating massive opportunities for FMCG companies and retailers according to a new report from research house Mintel.

    While snacking is often thought of as an indulgent and convenient alternative to traditional meal times, many Chinese consumers are now focusing on their health. Mintel’s report reveals that four in 10 urban Chinese consumers eat more nuts and seeds today compared to six months ago. Pointing to the rise in popularity of these healthy snacks, 58 per cent of consumers say that nuts and seeds taste good and 44 per cent say they are convenient to eat, while only 9 per cent say nuts and seeds are unhealthy.

    It seems that nuts are high in demand in China as product launch activity is also on the rise. Mintel Global New Products Database (GNPD) reveals that 17.5 per cent of snack products launched in China between 2014 and 2016 were nuts, compared to 15.3 per cent of those launched globally.

    The healthy snacking trend is contributing to the growing popularity of nuts and seeds in retail channels as well. In China’s retail snack market, nuts and seeds is the largest category, with a retail value of RMB263.7 billion (US$38.3 billion). Mintel forecasts the segment will grow at a CAGR of 10.7 per cent in value between 2015 and 2020, reaching RMB345.6 billion.

    Ching Yang, senior food and drink analyst at Mintel, said Chinese consumers have become more aware of the health benefits of nuts and seeds.

    “Now, it seems that  eating nuts and seeds is no longer something to do to kill time while chatting with friends, but part of the overall pursuit of a healthy and trendy lifestyle. Therefore, companies should consider packing up the traditional nuts and seeds bulk products in favour of branded products that are positioned as a healthy snack. We’re seeing a number of the nuts brands thriving when leveraging this consumer trend.”

    Mintel research reveals that six in 10 consumers associate a healthy snack with ‘all-natural’, while 42 per cent associate it with ‘fortified with additional nutrients’. One third of Chinese consumers associate healthy snacks with ‘high in protein’, and the demographic skews towards male consumers aged 25-29 (42 per cent). What’s more, 41 per cent of Chinese consumers aged 40-49 associate healthy snacks with ‘low in salt’.

    According to Mintel GNPD, one quarter of snack products launched in China between 2014 and 2016 were meat- or seafood-based snacks. In line with this, Mintel research reveals that 48 per cent of consumers think meat/seafood-based snacks taste good and 46 per cent think they are filling.

    On the other hand, the growth rates of traditional sweet snacks, such as sugar confectionery, ice cream and biscuits, are relatively slow. Mintel research indicates that 26 per cent of urban Chinese consumers are eating less chocolate confectionery today compared to six months ago, while 23 per cent are eating more. However, 63 per cent of Chinese consumers are eating more fresh fruits and vegetables as snacks, and 42 per cent are eating more dairy-based snacks.

    Yang added: “Chinese consumers have rising awareness of their sugar and fat intake. Therefore, more consumers are switching to fresh fruits and vegetables or dairy-based foods for snacking. This suggests a growing opportunity for food and drinks brands that enjoy a healthy perception (e.g. dietary supplements, cereals and yogurt) to tap into the snacking occasion by developing snack format products. Our research shows that Chinese females are concerned with calories, while Chinese males care about protein. With this in mind – and the fact that  the average sodium level in China’s meat snacks is lower than the global average and the level is decreasing over time – the ‘reduced sodium’ claim is still rarely seen on meat snacks and, therefore, could be leveraged to meet consumer needs.”

    Imports gain favour

    Finally, imported snacks are gaining popularity among urban Chinese consumers. According to Mintel research, as many as four in 10 urban Chinese consumers are interested in buying imported products they’ve never tried before across a variety of purchase channels that specialise in selling imported snacks. Of these same urban consumers, while 34 per cent have bought snacks from imported food stores, 28 per cent have bought at local stores when travelling and 19 per cent have bought from foreign shopping websites. In addition, though 75 per cent of consumers have bought snacks from any e-commerce site, physical retail channels are still the most popular purchase destination (96 per cent).

    “As consumers continue to look for new and different flavour experiences, international snacks have become a sector that many consumers are gravitating towards,” said Yang. “E-commerce is an especially important channel for international snacks. It not only allows consumers to easily access foreign products, but also provides a less costly channel for international players to enter the Chinese market.

    “However, one of the challenges for consumers is deciding what products are good and worth the higher cost, especially for consumers living in tier-one cities as they are more likely to shop online. A product targeting mainstream consumers could use regular retail channels in order to reach more consumers, especially in the lower tier cities,” Yang concluded.

  • Pink Star diamond sells for record $553 million

    Pink Star diamond sells for record $553 million

    Hong Kong jewellery company Chow Tai Fook ­has paid a record HK$553 million (US$71.2 million), including fees, for the illustrious Pink Star diamond.

    This makes the diamond the most expensive ­precious stone sold at auction. The sale relieves auction house Sotheby’s of unwanted inventory it was forced to take on three years ago.

    Measuring 2.69cm by 2.06cm and set on a ring, the 59.6-carat stone is the largest “internally flawless fancy vivid pink” diamond ever graded by the Gemological Institute of America, the industry arbiter. It is more than twice the size of the 24.8-carat Graff Pink, previously the most expensive pink diamond, which fetched US$46.2 million including fees in Geneva in 2010.

    The previous record holder for any diamond was the Oppenheimer Blue, a 14.6-carat “vivid blue”, which sold for 56.9 million Swiss francs (US$56.7 million) in Geneva last May.

    Chow Tai Fook, owned by the family of late tycoon Cheng Yu-tung, last year bought a 5.03-carat green diamond, Aurora Green, for HK$130 million at auction, and a 507-carat Cullinan Heritage rough diamond for HK$275 million in 2010. The Cullinan Heritage was subsequently cut and turned into a necklace.

    Asia overtook the US last year as the largest auction market, prompting Sotheby’s to opt for Hong Kong instead of Geneva to sell the Pink Star. The Swiss city is the traditional centre for sales to dealers.

    “Industry buyers remain the biggest market for large precious stones, but we are seeing great potential for growth among Asian private collectors. That’s why we did not sell this in Geneva,” says Sotheby’s Asia chairwoman Patti Wong.

    Sotheby’s initially sold the Pink Star in 2013 after New York cutter Isaac Wolf, acting on behalf of Ukrainian investors, made a record bid of 68 million Swiss franc for it. However, says Wong, his backers failed to come up with the money.

    Sotheby’s had made a pre-sale guarantee to the seller for the diamond, then estimated at US$60 million, and had to buy it when the sale fell through. It placed the diamond in its inventory with a value of US$72 million.

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  • Australia’s nbn trials Nokia’s universal GPON tech

    Australia’s nbn trials Nokia’s universal GPON tech

    Australia’s nbn, the company in charge of rolling out the National Broadband Network, has achieved 102Gbps aggregate speeds during a lab trial of Nokia’s universal NG-PON fiber technology.

    Universal NG-PON (next-generation passive optical network) combines TWDM-PON (time wavelength division multiplexing PON), XGS-PON (10 gigabit symmetrical PON) and GPON (gigabit PON) technology on the same fiber to support blazing fast speeds.

    It is designed to serve as a simple upgrade path to the current fiber technology used in FTTP deployments, saving the time and additional costs associated with laying new fiber.

    During the trial at Nokia’s Melbourne laboratory, nbn tested TWDM-PON with 40Gbps symmetrical, XGS-PON with 10Gbps symmetrical and GPON with 2.5Gbps, achieving aggregate download and upload speeds of over 102Gbps over a single shared access fiber.

    “Our successful trial of NG-PON2 technology with Nokia is another example of our ongoing commitment to continually develop the capabilities and speed of the nbn network,” nbn CTO Dennis Steiger said.

    “While we continue to deploy the nbn network at pace with over 2 million end-users now receiving nbn services and nearly 5 million able to order a service, we also have a very sharp focus on the future. The NG-PON2 trials we have conducted with Nokia have shown us the huge potential this very exciting technology has in terms of helping us deliver on our future bandwidth and capacity requirements.”

    But the current government’s decision to abandon the previous government’s plan to use FTTP for around 93% of connections, in favor of a multi-technology mix incorporating last-mile copper technology purchased from incumbent operator Telstra, complicates the potential upgrade path to the new technology.

  • Scale360 establishes Centre of Excellence to develop Thai Fintech talent

    Scale360 establishes Centre of Excellence to develop Thai Fintech talent

    Scale360, a UK-based fintech start-up that develops cutting-edge software to power banks’ digital transformation, has established a Bangkok Digital Centre of Excellence to service banks’ growing need for financial technology and develop local skills in leading global technologies.

    Thailand’s Board of Investment has recognised Scale360’s commitment to developing skills in Thailand, awarding the company a special eight year status to help attract top talent and establish the Digital Centre of Excellence in Bangkok.

    Combining Microservices application architecture with Scala and Java programming languages, Scale360 develops technology platforms that deliver better outcomes for customers across all channels via a digital banking infrastructure. Scale360 has established its own Thai language learning programme to advance the knowledge of skills required to build its Digital Banking 4.0 platform, with the aim of providing local developers with knowledge of programming languages used by global Internet giants like Twitter and LinkedIn.

    “We have a very clear vision of how banks need to operate in the digital age, and to deliver the kind of services today’s mobile and connected customers’ need requires a new approach to technology. This means using global leading technologies which are not yet prevalent in banking. At Scale360 we have developed our own learning programmes to give our employees the tools they need to compete in a global marketplace,” said Neville Molyneux, managing director, Scale360.

    Scale360 has implemented solutions-focused technology to leading global businesses for over 10 years, helping businesses define and execute their digital strategy, and create growth opportunities driven by enhanced customer-centric digital experiences.  Scale360’s developers have already completed transformation projects in Vietnam and are working with a challenger bank in the UK.

    “Scale360’s solutions enable pure digital play; we help our partners build greater customer loyalty and engagement, developing in-depth understanding of the digital customer that ultimately grows online revenue. It’s not just financial services – we’ve given retailers, hoteliers and charities the tools to embark on their digital journey,” added Neville.

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  • Central Embassy Open House opens

    Central Embassy Open House opens

    Bangkok luxury mall Central Embassy has unveiled a new space, Open House, where customers can eat, work, study or just relax – even take a nap.

    Central Embassy Open House 1

    Covering the entire top floor, Central Embassy Open House offers 7000 sqm of open-concept “co-living space” beneath high ceilings, with glass panels all around offering city views.

    Central Embassy Open House 6

    As well as a “co-working space”, Open House offers a restaurant, lounge, bar, bookshop, art gallery, design shop and children’s playground, nestled against the Embassy Diplomat Screens cinema.

    Central Embassy Open House 5

    “It took almost two years to complete this project,” says Central Embassy MD Barom Bhicharnchitr. “Accessible luxury is the key, but luxury is not about price – it’s mostly about quality of life.”

    Central Embassy Open House 2

    Central Group launched the THB18-billion (US$523.1 million) Embassy in 2014 on part of the former British Embassy site and Wireless and Ploenchit Roads. Its curving 200m facade advertises such brands as Gucci, Prada and Ralph Lauren, while ticket prices in its VIP cinema top THB1000.

    Central Embassy Open House 3

  • Hooters Southeast Asia opens two more outlets

    Hooters Southeast Asia opens two more outlets

    Hooters has opened two outlets in Southeast Asia, Hooters of Singapore – Fusionopolis and Hooters of Jakarta.

    Both locations are run by international franchisee Destination Group of Singapore, a Hooters 2015 Developer of the Year.

    Hooters of Singapore – Fusionopolis is in the One-North Business Park in Buona Vista. The 240 sqm restaurant accommodates 103 guests and has more than 20 large-screen televisions. Fusionopolis is an integrated work-life-play-learn development comprising retail outlets, a fitness club, R&D businesses and apartments.

    Hooters restaurant

    Hooters of Jakarta is in the Kemang Square shopping area, known for its upscale shopping centres, residences and nightlife. The 228 sqm Hooters restaurant seats 105 guests and has more than 16 large-screen televisions.

    “We are continuing our steady progression of opening locations across Southeast Asia,” says Destination Group CEO Gary Murray. The company has a 35-location Southeast Asia development agreement with Hooters of America, with plans to open more outlets soon in Phnom Penh, Koh Samui in Thailand, Taipei and Manila (multiple locations).

    While guests in SouthEast Asia are offered the Hooters standards of burgers, wings, appetisers and salads, they can expect menu additions that suit local tastebuds such as sauces, Indonesian sambal and Singaporean chili crab.

    Hooters of America chief development officer Mark Whittle says more sites are being sought for the group’s restaurants in Bali, Bangkok, Cebu, Davao, Ho Chi Minh City, Hong Kong, Jakarta, Kowloon, Krabi, Kuala Lumpur, Macau, Manila, Siem Reap, Singapore, Taipei and Yangon.

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  • Mitsubishi open to helping Renault in Southeast Asia

    Mitsubishi open to helping Renault in Southeast Asia

    Mitsubishi is open to rebadging and selling models from alliance partner Renault in Southeast Asia. It’s one way the newest member of the Renault-Nissan alliance could create synergies with its partners, Mitsubishi Chief Operating Officer Trevor Mann told Automotive News Europe.

    “Renault is almost non-existent in Southeast Asia,” Mann said at the auto show here this month. “If it made sense for Mitsubishi to cross badge a Renault product in Southeast Asia that could be an interesting discussion.”

    Mitsubishi also has a more dominant presence than Nissan in much of Southeast Asia. Mann said the company’s strength in places such as Thailand, where it has three factories that have produced more than 3 million vehicles, could be used to help boost Nissan’s market share and its bottom line.

    For instance, Mann told Reuters the two companies are studying joint production of pickup trucks in Southeast Asia. Mitsubishi, which builds the Triton pickup in Thailand, could supply Nissan with its next-generation Navara pickup. Nissan currently builds the Navara for local sales in Thailand.

    “If you look at our cost performance in that region, we are the benchmark within the alliance,” Mann said. “Our cost-base on pickups is better than Nissan’s.”

    Mitsubishi’s pickup architectures are likely to become the basis for future alliance models, added Mann, who was formerly Nissan’s chief performance officer but was dispatched by CEO Carlos Ghosn to help turn around Mitsubishi after Nissan paid $2.3 billion for a 34 percent controlling stake in the scandal-hit company last October.

    Mitsubishi’s admission that it cheated on fuel-economy ratings for several nameplates sold in Japan opened the door for Nissan to make the move. The two companies expect the deal to lead to combined savings of 49 billion yen ($473.2 million) in the 2017 fiscal year that ends in March 2018.

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