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Author: Mei Ling Tan

Starbucks Debuts Culture-Inspired Concept Store in Hong Kong Palace Museum: Merging Art, Coffee, and Custom Engraving Experience

Starbucks has unveiled a novel concept store at the Hong Kong Palace Museum in West Kowloon, positioned as a serene oasis amidst the hustle and bustle of the city.

Store Design and Art Collaborations

The store showcases unique design collaborations with three prominent local artists. Calligrapher Westley Wong is the creative genius behind the Chinese “Starbucks” brush signage that welcomes visitors at the entrance. Elsa Ngai, another inspiring artist, has enriched the interiors with layered botanical artworks that narrate the life cycle of a coffee plant using mineral pigments and gold leaf.

Drawing on the serene landscapes of Yunnan and the wisdom of Chinese philosophy, porcelain sculptor Leo Wong has crafted a remarkable ceramic wall installation. Patrons of the store can also enjoy an uninterrupted view of Victoria Harbour while sipping their coffee.

Exclusive Beverage and Food Menu

The concept store has launched a new seasonal range of beverages inspired by the plum blossom. The range includes oolong tea and coffee-based creations, all served with plum sauce, a whole plum, and a topping of creamy foam. Customers can choose between hot and iced versions of the drinks, with an option to add tonic water to the chilled variants. The store also offers an exclusive Turmeric Oatmilk Latte, only available at this particular location.

In terms of food, the store has introduced two unique desserts inspired by Ancient Egypt: the Golden Pistachio Pyramid Cake and the Mummy’s Secret Roll.

New Services and Experiences

This concept store is the first in the city to offer a Starbucks engraving service, providing customers with the opportunity to personalize their tumblers. The store will also be hosting Coffee Micro-Experiences like hand-brewing sessions, latte art demonstrations, and curated coffee tastings.

General Manager of Starbucks Hong Kong and Macau, Alan Chan, states that the HKPM store aims to reflect local culture in its design, range of products, and in-store experiences. The goal is to reimagine the Starbucks Third Place experience by integrating local elements to foster deeper and more meaningful connections with the community.

Questions & Answers

What unique design features does the new Starbucks concept store offer?
The store showcases design collaborations with local artists, including a Chinese “Starbucks” brush signage, botanical artworks, and a ceramic wall installation inspired by Yunnan’s landscape and Chinese philosophy.

What exclusive beverages and food items are available at the new store?
The store has introduced a plum blossom-inspired beverage range and an exclusive Turmeric Oatmilk Latte. The food menu includes two Ancient Egypt-themed desserts: the Golden Pistachio Pyramid Cake and Mummy’s Secret Roll.

What unique services and experiences does the new store offer?
The store offers a Starbucks engraving service and hosts Coffee Micro-Experiences such as hand-brewing sessions, latte art demonstrations, and curated coffee tastings.

January 30, 2026
China’s Luxury Market Primed for Modest Rebound in 2026: A Bain & Company Insight

China’s personal luxury goods market is anticipated to experience moderate growth in 2026, according to global management consulting firm, Bain & Company. However, they also caution that this recovery may be unstable and variegated across various brands and product categories.

A Fragile Recovery

In 2025, China’s luxury market contracted by 3-5%, showing some recuperation after a decline of 17-19% in 2024. Bain & Company forecasts that China, as the world’s second-largest economy, will persist as a crucial contributor to the growth of the luxury market.

Brands that cater to the affordable luxury and ultra-premium segments have thrived, providing what the consultancy perceives as ‘true value’.

China’s consumer confidence, which comprises approximately 25% of luxury expenditure, has been impacted by an extended property crisis and employment concerns. These factors have compelled luxury brands to reassess their strategies within the world’s second-largest economy.

Despite consumer sentiment appearing cautious for much of 2025, the luxury sector indicated signs of stability from the third quarter onwards. Bain & Company cites a stronger stock market and improved consumer confidence, recovering from the weak economic base of 2024, as catalysts for this stabilisation.

Future Outlook

The firm anticipates a ‘modest’ expansion in 2026, facilitated by a burgeoning middle class, escalating consumer confidence, and policy measures intended to boost domestic consumption. However, Bruno Lannes, a senior partner, stated that this growth will remain ‘segment-specific’.

2025 was viewed as a year of ‘recalibration’ for the world’s second-largest luxury market, with consumers becoming more discerning and gravitating towards items offering ‘true value’.

Emerging Local Brands

The study also reveals a preference for travel and wellness experiences over material purchases. The consultancy further highlighted the rise of local players as a significant trend in 2025. Emerging Chinese brands are attracting the attention of consumers with innovative and culturally relevant offerings, positioning them as robust competitors.

Performance varied across different categories, with beauty being the most resilient, rebounding to growth of 4-7%. Conversely, demand for fashion declined by 5-8%, while the demand for leather goods dropped by 8-11%, partly due to price increases.

Demand for watches plummeted by an estimated 14-17% as consumers shifted towards investments or second-hand alternatives. The jewellery sector’s decline narrowed to up to 5%.

The Resilience of Desirable Brands

Brands that preserve strong desirability and provide clear value through innovation and targeted pricing strategies have proven to be more resilient, according to the report.

Domestic spending made up 65% of Chinese luxury consumption in 2025, which signifies a reversal of the recovery in overseas demand observed over the previous two years.

A weaker currency and narrowing global price differences have driven more purchases back to the domestic market, despite a recovery in outbound travel.

The secondhand luxury sector witnessed growth of 15-20%. Meanwhile, ‘daigou’ sales, a term referring to purchases made on behalf of others and a long-standing pillar of Chinese luxury spending abroad, showed signs of slowing as brands tightened control over unofficial channels.

Questions & Answers

How did China’s luxury market perform in 2025?
In 2025, China’s luxury market experienced a contraction of 3-5%, showing signs of recovery from a more significant decline of 17-19% in 2024.

What factors are expected to support the growth of China’s luxury market in 2026?
The expected growth in 2026 is predicted to be supported by an expanding middle class, increasing consumer confidence, and policy measures aimed at stimulating domestic consumption.

What trends were observed in China’s luxury market in 2025?
In 2025, a significant trend was the rise of local players, with emerging Chinese brands capturing consumer attention through innovative and culturally relevant offerings. Additionally, consumers showed a preference for travel and wellness experiences over material purchases.

January 30, 2026
Vietnam: The Lone Decline in Southeast Asia’s 2025 Gold Rush Amidst Supply Shortages

In 2025, Vietnam stood out as the sole Southeast Asian nation to experience a decline in its sales of gold bars and coins. The volume experienced a 14% decrease from the previous year, falling to 36.1 metric tons, in spite of robust consumer interest.

Gold Trading Contraction in Vietnam

The World Gold Council has reported a consistent contraction in Vietnam’s gold trading for six consecutive quarters up until the end of 2025, landing at a near-five-year low. A primary factor contributing to this downward trend has been identified as short supply.

Shortages in the supply of gold bars and a sudden surge in the demand for 24K rings induced a sharp increase in prices. This caused a significant divergence from global rates, with bullion prices experiencing a rise of 81% in the previous year and 25% in the current year.

Comparison with Other ASEAN Countries

Contrastingly, most of the ASEAN member countries experienced a surge in demand for bars and coins, reaching multi-year highs. Thailand was the regional leader in terms of gold bar and coin purchases, boasting a 29% increase at 51.4 tons. Indonesia, Malaysia, and Singapore also reported growth of 29%, 37%, and 48% respectively.

The State Bank of Vietnam has highlighted the fact that Vietnam is not a gold-producing country and primarily relies on imports, which lends itself to a restricted supply given foreign currency is typically reserved for more pressing needs.

In the previous year, the government made the decision to permit private gold producers who meet specific capital requirements to operate. However, up until now, no licenses have been issued.

Global Gold Demand

On a global scale, gold demand experienced a 1% rise to reach 5,002 tons, setting a new record. This is largely attributed to the continuous geopolitical and economic uncertainty, which has led investors to seek refuge in this safe-haven metal.

Questions & Answers

Why did Vietnam experience a drop in gold bar and coin sales in 2025?
The significant decline in sales is attributed to supply shortages, despite strong consumer demand.

How did other ASEAN member countries fare in comparison to Vietnam?
Contrary to Vietnam, most ASEAN member countries, including Thailand, Indonesia, Malaysia, and Singapore, saw a surge in demand for gold bars and coins, reaching multi-year highs.

What measures has the Vietnamese government taken to address the issue of gold supply?
The government has granted permission to private gold producers meeting certain capital requirements to operate, in an effort to address the issue of gold supply. However, as of now, no licenses have been issued.

January 30, 2026
Singapore Struggles With Slow Growth in Booming Southeast Asian Food Delivery Market

A recent study reveals that Singapore experienced the second-lowest growth in its food delivery market in the previous year amongst significant Southeast Asian nations. The gross merchandise value (GMV) for food delivery in Singapore escalated by 13% in 2025, reaching US$2.9 billion. This rate of growth trailed behind the mean growth rate of 18% observed across six Southeast Asian markets.

Regional Growth Variances

Singapore’s expansion only superseded that of the Philippines, which marked a 12% increase – reportedly, this sluggish growth was due to recurring interruptions triggered by tropical cyclones.

In contrast, Thailand’s food delivery market noted the highest growth, with the GMV surging by 22%. The report suggests that this expansion was facilitated by various factors such as affordable initiatives launched by platforms, intensifying competition, and the government’s “half-half” subsidy scheme which underwrites a portion of consumers’ food expenditures.

Other countries like Indonesia, Malaysia, and Vietnam also witnessed substantial growth, each marking a rise of roughly 18% to 19%. Indonesia, being the region’s most densely populated market, registered the most significant absolute increase, contributing approximately $1 billion.

Factors Influencing Singapore’s Slower Growth

Addressing Singapore’s slower growth, Momentum Works CEO Li Jianggan highlighted that consumer behavior and market conditions significantly differ between countries. He referenced variations in city architectures, spending capacities, and the supply dynamics of delivery personnel and eateries.

He pointed out that food delivery can be quite costly in Singapore, particularly considering the availability of numerous affordable offline alternatives. Nonetheless, Singapore’s double-digit growth signifies a steady demand. However, keeping up this rate could put increasing strain on platforms to enhance their efficiency, especially as customers explore other options like dining out or self-collection.

Furthermore, Li noted that Singapore has a unique structural challenge – a limited pool of delivery riders – compared to larger and more densely populated neighboring countries. Adopting technology can help address this, but the key to raising the bar would be platforms’ relentless focus on establishing density and operational efficiency.

Market Leaders

At the platform level, Grab fortified its position as the predominant food delivery player in Southeast Asia, raising its regional market share from 53.8% in 2024 to around 55% in 2025. In absolute terms, Grab generated approximately $12.5 billion in food delivery value across the region last year.

ShopeeFood overtook Foodpanda to become the region’s second-largest platform, with estimated transactions totaling $3.3 billion. Meanwhile, Foodpanda’s value dipped to roughly $2.6 billion. Gojek and Thailand-based Lineman reported comparable values of about $2 billion each, indicating Lineman’s impressive performance in its local market.

The report underscored that compared to other emerging markets, Southeast Asia had a high order volume. The study estimated that collectively, platforms in the region handled between 8.5 million and 9.5 million food delivery orders per day on average in 2025. This volume is nearly twice that of India’s estimated daily orders of 4-5 million, despite India having approximately double the population of Southeast Asia.

The study concluded that the penetration of food delivery is less determined by population size, and more by urban density, eating-out substitution, and platform-led affordability mechanics.

Questions & Answers

What was the growth rate of Singapore’s food delivery market in 2025?
The food delivery market in Singapore grew at a rate of 13% in 2025.

Which was the fastest-growing market in Southeast Asia’s food delivery industry?
Thailand was the fastest-growing market in Southeast Asia’s food delivery industry, with a 22% increase in gross merchandise value.

Which platform consolidated its lead as Southeast Asia’s dominant food delivery player?
Grab consolidated its lead as Southeast Asia’s dominant food delivery player, increasing its regional market share to about 55% in 2025.

January 30, 2026
Vietnam Fuel Prices Skyrocket to Yearly High Amid Global Market Shifts

Gasoline prices in Vietnam witnessed a significant surge on Thursday afternoon, marking their highest point since the beginning of the year. The commonly used fuel, RON95, experienced a hike of 1.13%, bringing its price up to VND18,840 (US$0.72) per liter.

Biofuel E5 RON92 also experienced a price increase, albeit a more modest one. Its price rose by 0.27%, leaving it at VND18,330 per liter. Diesel, a critical fuel for many industries, saw a noteworthy increase of 2.66%, pushing its price to VND18,170 per liter.

Several global factors have been cited as driving forces behind these price changes. The international fuel market has been affected by geopolitical tensions, particularly between the U.S. and Iran. In addition to this, the United States has seen a more substantial-than-anticipated dip in its oil inventories. Coupled with a weakening U.S. dollar, these factors have put pressure on global fuel prices, as noted by the Ministry of Industry and Trade.

In terms of international prices, RON95 saw an increase of 1.7%, which pushed its price to $73.6 per barrel. Diesel’s price also witnessed a significant uptick, with an additional 3.4%.

Questions & Answers

What was the price increase for the commonly used fuel RON95 in Vietnam?
RON95 experienced a price hike of 1.13%, which increased its price to VND18,840 (US$0.72) per liter.

What global factors have influenced the recent surge in fuel prices?
Several global factors, including geopolitical tensions between the U.S. and Iran, a substantial decline in oil inventories in the U.S. more than anticipated, and a weakening U.S. dollar have contributed to the increase in fuel prices.

How has the price of Diesel changed?
Diesel witnesses a significant price increase of 2.66%, leaving its price at VND18,170 per liter.

January 30, 2026
Starbucks Brews Success with Q1 Sales Surge: ‘Back to Starbucks’ Strategy Fuels Global Expansion

In the first quarter of fiscal 2026, Starbucks has announced a robust revenue of US$9.9 billion, pointing towards a general expansion in sales and steady growth of its worldwide store chain.

Global Sales Progress

Comparable store sales on a worldwide level saw a growth of 4 per cent during the quarter. Primarily, this rise was fuelled by a 3 per cent growth in transactions and a 1 per cent increase in the average ticket size. Unlike previous quarters, this expansion was mainly supported by an increase in customer traffic rather than price escalations.

Uplift in North American Sales

In the North American region, inclusive of the US, comparable sales saw a 4 per cent rise. This included the first transaction growth in the US in the past eight quarters. The management credits this growth to improvements in operations and a renewed focus on the in-store experience under the guidance of CEO Brian Niccol’s ‘Back to Starbucks’ initiative.

CEO Brian Niccol expressed his satisfaction with the results, saying, “Our Q1 results indicate that our ‘Back to Starbucks’ strategy is proving effective, and we believe we are advancing faster than our original schedule.”

Strong Performance in International Markets

The international markets posted even stronger outcomes, with comparable store sales rising by 5 per cent. China emerged as the strongest performer, with a 7 per cent growth in comparable sales, backed by a 5 per cent increase in transactions and a 2 per cent rise in the average ticket size.

During the quarter, Starbucks launched 128 new stores, raising its worldwide total to 41,118 locations. Currently, 52 per cent of the stores are company-operated and 48 per cent are licensed. The US and China remain the largest markets for the company, accounting for 61 per cent of all stores, with a total of 16,911 and 8,011 locations respectively.

Future Expectations

Starbucks anticipates the current growth trend to persist. The company forecasts at least 3 per cent comparable sales growth in the current fiscal year and aims to launch between 600 and 650 new stores globally, underscoring its confidence in its revival and expansion strategies.

In a recent development, Starbucks declared its intentions to sell a controlling stake in its China operations to Boyu Capital, in a US$4 billion deal. However, it will retain a 40 per cent stake while continuing to own and license the Starbucks brand and intellectual property.

Questions & Answers

What was the growth rate of global comparable store sales in the first quarter?
The global comparable store sales grew by 4 per cent in the first quarter.

What was the primary factor for the rise in global sales for Starbucks in the quarter?
The rise was primarily supported by a growth in customer traffic rather than price escalations.

What are Starbucks’ growth plans for the current fiscal year?
Starbucks plans to achieve at least 3 per cent comparable sales growth and intends to launch between 600 and 650 new stores globally.

January 29, 2026
Tim Hortons Brews Up Localization Strategy to Double South Korean Presence in 2022

Renowned Canadian coffee company, Tim Hortons, is ramping up its efforts to establish a stronger operational presence in South Korea. The firm’s objective is to more than double its store tally to a total of 50 locations within this calendar year. This strategy is underpinned by a recognition of the importance of localization in propelling its growth in an increasingly competitive coffee industry.

Currently, Tim Hortons operates 24 outlets, with the majority situated in Seoul and its surrounding metropolitan areas. This year, the company plans to increase its store count by an additional 26, one of which will be a flagship “signature store”. This special location will feature a larger floor space and a more extensive food menu, setting it apart from the standard outlets.

An Tae Yeol, the Chief Brand Officer of BKR, stated at a recent press conference that the company’s focus for this year would be on stores directly operated by Tim Hortons. This approach is part of their strategy to successfully navigate the fiercely competitive South Korean coffee market. The introduction of franchising is projected to commence next year, albeit with a select group of partners.

Tim Hortons’ operations in South Korea are managed by BKR, which is also responsible for the operation of Burger King outlets in the country. Previously, the brand had set a goal to open 150 outlets within the first five years of its entry into the South Korean market in 2023.

Questions & Answers

What are Tim Horton’s expansion plans in South Korea?
Tim Hortons aims to more than double its store presence in South Korea within this year, increasing its footprint from 24 to 50 outlets. The company plans to establish a flagship “signature store” with a larger floor space and a broader food menu.

How does Tim Hortons plan to manage its growth in the highly competitive South Korean coffee market?
Tim Hortons plans to focus on company-operated stores for the upcoming year as a strategy to remain competitive in the South Korean coffee industry. The company also plans to introduce franchising by next year with a limited number of partners.

Who operates Tim Hortons in South Korea?
Tim Hortons in South Korea is operated by BKR, the same company that runs Burger King outlets in the country.

January 29, 2026
Pop Mart’s Aggressive US Expansion: Over 20 New Stores Set to Boost Presence in American Malls

Pop Mart, renowned for producing the popular Labubu figures, is set to expand its presence in the United States. This decision has been well-received by the corporation’s shareholders.

Pop Mart has unveiled an ambitious plan to inaugurate more than 20 new outlets across malls in the United States. The company intends to join forces with Simon Property Group to realize this expansion. With the completion of this initiative, Pop Mart’s total outlets in the U.S. and Canada will exceed 60.

Pop Mart marked its initial foray into the U.S. market by launching its first store in the American Dream Mall, New Jersey, in September 2023. By 2024, the firm had expressed intentions to manage as many as 200 stores within the region.

The company observed a decline in its share price from its peak in August. However, the announcement of the U.S. expansion and subsequent investment brought about a significant turnaround. The company’s shares noticed a single-day increase of 10% – marking the most substantial growth since August 20.

The first half of the previous year saw a dramatic 1142% year-on-year revenue increase in the U.S., amounting to US$315 million. This figure considerably surpassed the 135% growth recorded in China during the corresponding period.

Questions & Answers

What is Pop Mart’s expansion plan in the United States?
Pop Mart has announced plans to open more than 20 new stores in American malls in collaboration with Simon Property Group.

What was the response of Pop Mart’s shareholders to the U.S. expansion plan?
The shareholders responded positively to Pop Mart’s U.S. expansion plans, evident from the 10% single-day increase in the company’s shares following the announcement.

How did the U.S. market contribute to Pop Mart’s revenues in the first six months of last year?
The U.S. market contributed significantly to Pop Mart’s revenues during the first half of last year, with a year-on-year increase of 1142% amounting to US$315 million.

January 29, 2026
International Students in Australia Grapple with Skyrocketing Living Costs and Tuition Fees

Many international students in Australia are facing considerable financial strain, as they attempt to balance their academic commitments with part-time work to afford their living expenses. A key concern among these students is the high cost of food and other essentials.

A Chinese student at the Australian National University, unwilling to be named, shared her experiences of eating instant noodles or fast food until she was able to find work. Although conscious of the need to study, she found herself working as many as 48 hours a fortnight, the maximum allowed under Australian student visas. This, however, led to immense stress and anxiety, affecting her sleep and overall wellbeing.

Struggling to Afford Basic Necessities

This student’s situation is far from unique. The 2024 State of Student Healthcare Report, issued by Allianz Partners Australia, indicated that nearly a third of international students regularly missed meals due to the high cost of groceries. Roughly one in four stated they could not afford fresh fruits and vegetables.

Housing security has also become a major issue. Sean Stimson, a senior solicitor at the Redfern Legal Centre’s International Student Legal Service, highlighted an increase in homelessness among international students over the past 18 months, largely due to significant rent hikes.

Erin Longbottom, nurse unit manager of the homeless health service at St. Vincent’s Hospital in Sydney, referred to international students as the emerging “hidden face of homelessness.”

Overcoming Barriers in the Rental Market

The 2024 Student Accommodation Council report found that international students faced particular challenges in the private rental market. Without a rental history in Australia and often lacking employment or income statements when applying for leases, they are at a significant disadvantage.

While students are required to show access to A$30,000 (US$20,700) to obtain a visa, Stimson cautioned that these funds could be quickly depleted due to skyrocketing living costs.

Rising Tuition Fees

In addition to escalating expenses for housing and food, tuition costs have also surged. Immigration expert Dr. Abul Rizvi pointed out that fees for international students have grown significantly faster than inflation.

More than 583 courses charge international students over $250,000, with 445 of those offered by the country’s top research universities. In some instances, the total cost of a degree can exceed A$850,000.

Financial Stress Taking Its Toll

The Allianz report further revealed that over 61% of international students surveyed said daily expenses were substantially higher than anticipated. Only 18.2% felt financially secure, while 40.2% were experiencing financial stress or hardship. Worryingly, 28.1% considered leaving their studies due to these pressures.

Alan Morris, a professor focusing on urban and housing studies at the University of Technology Sydney, noted that many international students suffer enormous stress and anxiety as they try to juggle their academics and finances. This often results in academic performance suffering as students focus on making ends meet.

The Need for Innovative Solutions

Although Australia’s student visa work rules are generally quite generous, experts caution that simply increasing work hours may not alleviate the financial pressures faced by international students.

Rather, innovative solutions may be of value. Morris suggested Australia might benefit from adopting a Canadian housing model that pairs international students with older residents for reduced rent in exchange for assistance with household tasks.

In the meantime, many international students are finding their own ways to adapt to these financial challenges, developing practical skills such as cooking or driving to save money.

Despite the difficulties, many students still consider studying in Australia to be a valuable experience.

Questions & Answers

What challenges are international students in Australia facing?
They are dealing with rising living costs, high tuition fees, and restrictions on work hours, which are leading to financial stress and, in some cases, homelessness.

What issues are they encountering with housing and food?
Many international students are struggling to afford groceries and fresh food. Additionally, steep rent increases have led to issues with housing security, with homelessness on the rise among this group.

What solutions are being suggested to alleviate these pressures?
One suggestion is to adopt a Canadian housing model that pairs international students with older residents. The students would help with household tasks in exchange for reduced rent. This would help alleviate some financial stress and provide more secure housing.

January 29, 2026
Vietnam’s VN-Index Plunges: Longest Losing Streak in Seven Years Sparks Market Concern

The VN-Index of Vietnam, which is the country’s benchmark index, experienced a decline for the seventh consecutive session on Wednesday. This represents the most extended losing streak since 2018’s final quarter. The VN-Index wrapped up the session at 1,802.91, marking a decrease of 1.51% or 27.59 points. From the beginning of the previous week, the index underwent a loss of 100 points.

Trade Volume Increase and Major Price Movements

A significant increase of 34% was recorded in the trading volume on the Ho Chi Minh Stock Exchange, reaching VND33.7 trillion (equivalent to US$1.29 billion).

The VN-30 basket, which is a compilation of the 30 most significant capped stocks, witnessed a fall in 16 tickers. The VIC ticker of the private conglomerate Vingroup reached its lowest price point.

In the realm of retail real estate, Vincom Retail’s VRE experienced a decrease of 5.8%, while the VHM of property titan Vinhomes suffered a reduction of 5.7% in its closing price.

On the more positive side, eleven blue-chip stocks recorded gains. Among them, MSN of the Masan Group conglomerate saw a rise of 3.7%, FPT of tech powerhouse FPT Corporation increased by 2.4%, and GAS of the state-owned Petrovietnam Gas experienced a boost of 2.3%.

Foreign Investor Activity and Other Indexes

Foreign investors ended up as net sellers, with a net selling volume reaching VND1.78 trillion. This selling activity mainly targeted HDB of HDBank and ACB of Asia Commercial Bank.

Taking a look at other indexes, the HNX-Index, associated with stocks on the Hanoi Stock Exchange, which mainly includes mid and small cap stocks, recorded a fall of 0.15%. Meanwhile, the UPCoM-Index, representing the Unlisted Public Companies Market, saw an increase of 0.62%.

Questions & Answers

What is the VN-Index?
The VN-Index is a benchmark index in Vietnam that represents the performance of the country’s stock market.

Which stocks experienced a price decrease?
The VIC of Vingroup, VRE of Vincom Retail, and VHM of Vinhomes were among the stocks that saw a decrease in price.

Which stocks saw a price increase?
Among the stocks that recorded a price increase were MSN of the Masan Group, FPT of FPT Corporation, and GAS of Petrovietnam Gas.

January 29, 2026
Hong Kong and Cambodia Unite to Crush Spam Communications: A Victory for Cross-Border Collaboration

The Hong Kong Office of the Communications Authority (OFCA) and the Telecommunication Regulator of Cambodia (TRC) have agreed to a memorandum of understanding (MoU) aimed at bolstering their collaborative efforts in the fight against scam calls, scam messages, and other forms of spam communication.

Strengthening Regulatory Cooperation

The MoU was signed on January 26th during a bilateral meeting between Mr. Chaucer Leung, the Director-General of Communications for Hong Kong, and Mr. Chenda Thong, the Chairman of Cambodia’s TRC. This agreement sets out a comprehensive framework that will facilitate closer cooperation and a more streamlined exchange of information between the two regulatory bodies.

The outlined areas of focus include regulatory practices, public awareness campaigns, and the development of technological practices specifically designed to mitigate the impact of scam and spam communications, such as voice calls and SMS messages.

Shared Commitment to Tackling Scam and Spam Communications

Commenting on the significance of the MoU, Mr. Chaucer Leung noted its importance in facilitating the sharing of expertise and experiences in battling scam and spam communications. He elaborated that it would also encourage the timely sharing of insights regarding emerging market trends and developments, allowing both regulators to identify and effectively tackle evolving scams and spam threats in Hong Kong and Cambodia. The MoU, according to Mr. Leung, is a clear demonstration of their joint commitment to devising and improving measures to effectively handle scam and spam communications.

Measures in Place in Hong Kong

In Hong Kong, the OFCA has been collaborating closely with telecommunications service providers and government departments to maintain the integrity of its communications network. These efforts have seen the implementation of key measures such as requiring operators to block suspected fraudulent phone numbers and websites, barring suspicious inbound calls that attempt to spoof the +852 Hong Kong prefix, the introduction of the SMS Sender Registration Scheme, and the enforcement of the Real-Name Registration Program for SIM cards.

Questions & Answers

What is the main focus of the MoU signed between the Hong Kong OFCA and the Cambodian TRC?
The MoU provides a framework for cooperation and information sharing between the two regulators, aimed at combating scam and spam communications. This includes voice calls and SMS messages.

Who signed the MoU on behalf of the two countries?
The MoU was signed by Mr. Chaucer Leung, the Director-General of Communications for Hong Kong, and Mr. Chenda Thong, the Chairman of Cambodia’s Telecommunication Regulator.

What measures have been implemented in Hong Kong to tackle scam and spam communications?
In Hong Kong, various measures have been put in place. These include requiring operators to block suspected fraudulent phone numbers and websites, barring suspicious inbound calls spoofing the +852 Hong Kong prefix, implementing the SMS Sender Registration Scheme, and enforcing the Real-Name Registration Program for SIM cards.

January 29, 2026
LS Cable & System Spearheads Submarine Power Grid Expansion in Malaysia: Aims for Dominance in Booming Asia-Pacific Subsea Cable Market

The initiative’s main objective is to guarantee a reliable power supply by enlarging a 132kV-grade underwater power grid between the Malaysian peninsula and Langkawi Island, a well-known tourist hotspot.

LS Cable & System prevailed over several international corporations to secure this second Langkawi venture, following an earlier project. The firm emphasized its capacity to manage intricate turn-key projects, supervising everything from design and material provision to installation and construction. This was over and above the basic cable supply, thus demonstrating its superior engineering proficiency.

It is predicted that the worldwide underwater cable market will increase to KRW 34 trillion by 2030. The Asia-Pacific region, renowned for its abundant islands, is likely to be at the forefront of this surge with KRW 20 trillion. At present, Southeast Asia is diligently working on large-scale underwater power grid projects in an effort to set up the ASEAN Power Grid (APG). The primary goal of the APG is to interconnect national power infrastructures.

LS Cable & System is poised to use this project as a stepping stone to boost its international order references and quicken its growth in the local market. The company plans to join forces with LS Marine Solution and other associates on large national projects. One example of such a project is the West Coast energy highway, for which a bidding notice is expected to be released in the first half of this year.

LS Cable & System stated, “We are establishing credibility in the global market, built upon previous project implementation experience and our technical prowess. We are determined to strengthen our leadership in the underwater cable market by successfully executing domestic and international backbone network construction projects, leveraging our proven turn-key competencies.”

Questions & Answers

What is the primary goal of the project?
The project’s main goal is to ensure a reliable power supply by expanding a 132kV-grade underwater power grid between the Malaysian peninsula and Langkawi Island.

What is LS Cable & System’s role in the project?
LS Cable & System is responsible for managing complex turn-key projects, including design, material supply, laying, and construction.

What future plans does LS Cable & System have?
LS Cable & System plans to use this project to enhance its international order references and accelerate its expansion into the domestic market. It also intends to collaborate with LS Marine Solution and other partners on large-scale national projects.

January 29, 2026
Damiani Debuts First Flagship Store in Seoul: A Taste of Italian Luxury in Korea’s Gangnam District

Damiani, the esteemed Italian jewellery manufacturer, has proudly unrolled its first flagship store in South Korea. This exciting new venture is nestled in the bustling Gangnam District of Seoul.

The Essence of Casa Damiani Seoul

The boutique, christened Casa Damiani Seoul, draws its inspiration from the warmth and charm of traditional Italian homes. The space has been thoughtfully designed to foster a hospitable and inviting atmosphere, where customers can explore and appreciate fine jewellery in a relaxed and comfortable setting.

The exterior of the store is marked by a series of vertical frames that encapsulate the structure, all bathed in a sophisticated champagne-gold hue.

The Interior Design

Inside, the boutique boasts a distinctive selection of Italian materials. Among these are Calacatta marble, leather, and various textile finishes. The décor is further enhanced by geometric designs that are reminiscent of the Maison’s Belle Epoque collection, serving as a recurring motif throughout the interior.

Moreover, exquisite glass creations and chandeliers, crafted by Venini—an entity within the Damiani Group—infuse an extra touch of artistry into the space.

Celebrating the Flagship Store

In celebration of the store’s opening, Damiani showcased the Belle Epoque Marea Cross necklace, an exquisite piece adorned with Paraiba tourmalines. The name ‘Marea’, which translates to ‘the movement of the sea’ in Italian, serves as an ode to the ocean-like hues that Paraiba tourmalines are renowned for.

Questions & Answers

What is the inspiration behind Casa Damiani Seoul?
The boutique is inspired by the warmth and charm of traditional Italian homes, providing a hospitable and inviting atmosphere for its customers.

What unique design elements are incorporated in Casa Damiani Seoul?
The store’s design incorporates a selection of Italian materials, including Calacatta marble, leather, and textile finishes. Geometric designs inspired by the Maison’s Belle Epoque collection serve as a recurring motif.

What is the Belle Epoque Marea Cross necklace?
The Belle Epoque Marea Cross necklace is an exquisite piece adorned with Paraiba tourmalines. The name ‘Marea’ references the ocean-like hues for which Paraiba tourmalines are known.

January 28, 2026
Foodpanda Expands Footprint in Singapore with New Pandamart XL Stores: Bigger Selection, Better Value!

Foodpanda, a popular food delivery service, has recently expanded its presence in Singapore with the opening of two additional Pandamart XL stores. These new locations, situated in Kallang and Yio Chu Kang, have been established to meet the increasing consumer demand and will provide a wider variety of products.

Understanding the Change in Consumer Behaviour

Bhavani Mishra, the Managing Director of Foodpanda Singapore, shared that they have noticed a shift in how their customers in Singapore are shopping. Shoppers are becoming more intentional, planning their purchases meticulously, spending wisely, and doing bulk shopping in one go. The new Pandamart XL stores have been specifically designed to cater to these changing needs.

Expanded Product Range

Pandamart XL stores are characterized by a larger product range, around 30 per cent more than their regular stores. This increased product assortment includes not just everyday items, but also specialty imported goods and locally popular items. This is designed to offer customers more options and better value while retaining the convenience they have come to expect from Foodpanda.

Quick-commerce and Its Evolution

Axelle Guibert, the Director of Quick-commerce at Foodpanda Singapore, elaborates that quick-commerce has moved beyond just being about convenience. It has become a part of the daily shopping rhythm in Singapore. With their new Pandamart XL stores, Foodpanda aims to deliver both scale and speed, offering customers a wider selection and better value, all in proximity to their homes.

Foodpanda currently operates three Pandamart XL stores. The company utilizes hyperlocal demand trends for effective stock planning. This ensures that each store’s inventory is tailored to meet the specific needs of its surrounding neighbourhood.

Questions & Answers

What is Foodpanda’s recent development in Singapore?
Foodpanda has recently opened two more Pandamart XL stores in Kallang and Yio Chu Kang, Singapore.

What distinguishes Pandamart XL stores from regular stores?
Pandamart XL stores offer 30 per cent more products than regular stores, including specialty imported goods and locally popular items, providing customers with more choices and better value.

How does Foodpanda plan its inventory for the Pandamart XL stores?
Foodpanda utilizes hyperlocal demand trends for stock planning, ensuring that each store is tailored to meet the specific needs of its surrounding neighbourhood.

January 28, 2026
“LVMH Shatters Q4 Sales Predictions: Luxury Sector Sees Hope with China’s Uptick”

LVMH, the conglomerate which owns luxury brands Louis Vuitton and Tiffany, outperformed fourth-quarter sales projections on Tuesday. This development has raised expectations of a revival within the luxury sector, despite challenges including trade conflicts, a depreciating dollar, and elevated gold prices impacting profit margins.

In the final quarter, the leading luxury firm posted overall sales of 22.7 billion euros (US$27.1 billion). This represents a 1 per cent increase on a comparable basis, outperforming predictions of a 0.3 per cent decrease as per Visible Alpha’s consensus forecast.

Signs of Recovery in Asia

The France-based conglomerate revealed indications of resuming growth in Asia, with domestic Chinese sales seeing an uptick in the quarter. This supports the trend of recovery that the retail giant has been witnessing over the last few months.

The watches and jewellery division of LVMH experienced a sales growth of 8 per cent in the quarter, surpassing expectations. However, revenue from its main fashion and leather division, which contributes most to the overall profits, saw a 3 per cent decline when adjusted for currency fluctuations – a figure that was in line with projections.

The luxury sector is slowly recovering from a prolonged slump, and recent positive results from industry peers Richemont and Burberry, bolstered by a rebound in China, have been encouraging.

Caution Moving Forward

However, despite the promising results, LVMH’s CEO and billionaire owner, Bernard Arnault, signaled caution for the future, stating plans to restrict costs and expenses. Arnault cited ongoing geopolitical crises, economic uncertainty and certain state policies, including those in France, aimed at maximizing taxation, as reasons for adopting a cautious approach.

The conglomerate’s operating profit for 2025 dropped by 9 per cent, with margins affected by a range of factors including currency movements, US tariffs impacting alcohol exports, and record gold prices escalating import costs for jewellery.

Strategies Amid Challenges

Amid a real estate crisis and stiff local competition in China, LVMH has been strategically leveraging its financial strength to gain an edge. This approach has seen the opening of a large, ship-shaped Vuitton store in Shanghai and a new Dior flagship store in Beijing, among other initiatives.

The ship-shaped store has proven to be a “great success” for the prominent Louis Vuitton brand, according to Arnault. Chinese customers, including international tourists, comprise nearly one-third of LVMH’s fashion and leather sales, as per UBS estimates.

During its last trading update, LVMH’s positive remarks about slightly improved Chinese demand led to a rally in the luxury stock market, adding nearly $80 billion to combined company valuations.

The company stated that the weaker dollar had resulted in US tourists spending less in Europe, with regional sales dropping 2 per cent last quarter. Conversely, US sales rose by 1 per cent in the same period. Sales in Asia, including China, increased by 1 per cent.

Questions & Answers

What was the overall sales of LVMH in the fourth quarter?
The company recorded overall sales of 22.7 billion euros (US$27.1 billion).

How did the sales of LVMH’s watches and jewellery division perform?
The watches and jewellery division experienced an 8 per cent growth in sales in the quarter.

What factors are affecting LVMH’s operating profit?
The operating profit was impacted by a range of factors including currency movements, US tariffs impacting alcohol exports, and record gold prices escalating import costs for jewellery.

January 28, 2026