Author: Mei Ling Tan

  • Pizza Hut develops diet pizza range

    Pizza Hut develops diet pizza range

    Pizza Hut Japan has teamed with Rizap, a Japanese company promoting nutrition and exercise, to create a ‘diet pizza’.

    The two companies aim to make the fast-food favourite more healthy, and have released three sugar-reduced varieties with Pizza Hut Japan.

    Six stores around Tokyo’s Kanto area are offering the healthier options, including thick-cut bacon and grilled vegetables, savory bulgogi and teriyaki egg. They come baked fresh in a personal pan size.

    As well as take-out, deliveries are available, each of the pizzas costing 1000 yen (US$9.99).

    Each pizza crust has had its sugar content halved, while overall the new pies contain less than 30g of sugar (regular pizzas contain 55.2g).

    Unfortunately, the healthy-style pizzas will be offered only until October 23.

  • Korean wave exports boom

    Korean wave exports boom

    Outbound shipments of Korean food, beauty, fashion and personal care products soared in the first half of the year on the back of the growing popularity of the Korean Wave, or hallyu.

    Official data released today by the Korea International Trade Association (KITA), shows exports of such goods amounted to US$6.79 billion in the January-June period, up 15.2 per cent from a year earlier.

    Industry watchers said the growth is attributable to the cultural wave of “hallyu” in China and other Asian countries, which refers to the boom of South Korea-made entertainment goods, including pop music, movies and TV dramas. The popularity of hallyu helped turn its fans into consumers of South Korean products.

    The growth was driven by cosmetics-related goods with their exports rising 38.5 per cent to reach $1.81 billion during the first half of the year.

    Exports of foods also rose 3.5 per cent year-on-year to reach $2.43 billion, the data showed.

    The association said South Korea’s diversified product portfolio helped meet demand from customers in overseas markets.

    Last year, exports of such products amounted to $12.21 billion won, the data showed.

    Earlier data also showed that exports of South Korea-made cosmetics more than tripled over the past five years.

    Outbound shipments of makeup products reached $2.45 billion in 2015, surging 53.1 per cent from $1.56 billion a year earlier, according to the data by Korea Customs Service (KCS).

    The 2015 figure soared more than threefold from $698 million in 2011, with an annual average growth of 36.9 per cent over the 2011-2015 period.

    The total volume of cosmetics exports stood at 90,491 tons in 2015, compared to 31,606 tons tallied in 2011.

    China is the biggest buyer of South Korean beauty products, importing $999.5 million last year, or 40.6 per cent of the country’s entire cosmetics exports.

  • Loss deepens for FJ Benjamin Holdings

    Loss deepens for FJ Benjamin Holdings

    Restructuring has taken its toll on FJ Benjamin Holdings’s bottom line.

    The fashion and lifestyle brand management company has deepened its full-year net loss to S$23 million (US$16.9 million) for its latest financial year, compared to S$17 million the previous year.

    Group turnover subsided 14 per cent to S$253.6 million. Excluding the translation effects of foreign currency, the fall was 10 per cent.

    Turnover from the fashion business declined 9 per cent to S$212.5 million, while timepieces fell 13 per cent to S$51.6 million, after excluding currency translation loss.

    FJ Benjamin attributes the turnover decline to the closing of non-performing stores, discontinued businesses and the closure of its north Asian business, plus a S$10.4 million loss in converting Malaysian ringgit to Singapore dollars. These factors more than offset a slight increase in sales from franchise brands.

    Gross profit margin was 39 per cent against 41 per cent in the previous year because of increased promotional expenses.

    The group operating loss, excluding a one-time gain of S$19.6 million from the sale of mandatory convertible bonds and the sale of properties last year, was 32 per cent lower year on year at S$19.9 million.

    FJ Benjamin says it expects the trading environment to remain challenging amid uncertain economic slowdown in its key markets.

    “The restructuring that started in 2013 has been substantially completed, and associated losses are unlikely to recur,” says the group.

  • Amazon India eyes private label

    Amazon India eyes private label

    Amazon India is planning to expand its private label fashion offer to gain a bigger foothold in the growing eCommerce sector.

    Deal Street Asia reports that the US-based company sees private label fashion and electronics lines will help give the brand additional pulling power with Indian consumers in a crowded, but booming online retail market.

    “Launching private labels is tricky as India bans foreign direct investment (FDI) in online retail, but allows 100 per cent FDI in the marketplace model, under which sites such as Amazon and Flipkart are supposed to simply connect third-party sellers with customers,” Deal Street Asia noted in a report online.

    Private label products may also be added to its grocery offer, which it markets through the Amazon Now app.

    Amazon recently hired former Myntra chief creative officer Gautam Kotamraju to lead its push into private brands in fashion. Kotamraju, who has worked 18 years in the fashion business, helped create Myntra’s large private brands business, which generated more than 20 per cent of Myntra’s gross sales within two years of its launch.

    Amazon hasn’t decided on a timeline for the launch of its proposed private brands in fashion, the report said, quoting sources familiar with the matter.

    Read more on Deal Street Asia

  • Cybercriminals use insiders to attack telcos

    Cybercriminals use insiders to attack telcos

    Cybercriminals are using insiders to gain access to telecommunications networks and subscriber data, recruiting disaffected employees through underground channels or blackmailing staff using compromising information gathered from open sources.

    This is among the findings of a Kaspersky Lab intelligence report into security threats facing the telecommunications industry.

    Telecommunications providers are a top target for cyber-attacks. They operate and manage the world’s networks, voice and data transmissions and store vast amounts of sensitive data. This makes them highly attractive to cybercriminals in search of financial gain, as well as nation-state sponsored actors launching targeted attacks, and even competitors.

    To achieve their goals, cybercriminals often use insiders as part of their malicious ‘toolset’ to help them breach the perimeter of a telecommunications company and perpetrate their crimes.

    New research by Kaspersky Lab and B2B International reveals that 28% of all cyber-attacks and 38% of targeted attacks now involve malicious activity by insiders. The intelligence report examines popular ways of involving insiders in telecoms-related criminal schemes and gives examples of the things insiders are used for.

    Compromising employees

    According to the Kaspersky Lab researchers, attackers engage or entrap telecoms employees in the following ways:

    • Using publicly available or previously stolen data sources to find compromising information on employees of the company who they intend to hack. They then blackmail targeted individuals – forcing them to hand over their corporate credentials, provide information on internal systems or distribute spear-phishing attacks on their behalf.
    • Recruiting willing insiders through underground message boards or through the services of “black recruiters”. These insiders are paid for their services and can also be asked to identify co-workers who could be engaged through blackmail.

    The blackmailing approach has grown in popularity following online data breaches such as the Ashley Madison leak, as these provide attackers with material they can use to threaten or embarrass individuals. In fact, data-leak related extortion has now become so widespread that the FBI issued a Public Service Announcement on June 1, warning consumers of the risk and its potential impact.

    The insiders most in demand

    According to the Kaspersky Lab researchers, if an attack on a cellular service provider is planned, criminals will seek out employees who can provide fast track access to subscriber and company data or SIM card duplication/illegal reissuing. If the target is an internet service provider, the attackers will try to identify those who can enable network mapping and man-in-the-middle attacks.

    However, insider threats can take all forms. The Kaspersky Lab researchers noted two non-typical examples, one of which involved a rogue telecoms employee leaking 70 million prison inmate calls, many of which breached client-attorney privilege. In another example, an SMS center support engineer was spotted on a popular DarkNet forum advertising their ability to intercept messages containing OTP (One-Time Passwords) for the two-step authentication required to login to customer accounts at a popular fintech company.

    “The human factor is often the weakest link in corporate IT security,” Kaspersky Lab security expert Denis Gorchakov said.

    “Technology alone is rarely enough to completely protect the organization in world where attackers don’t hesitate to exploit insider vulnerability. Companies can start by looking at themselves the way an attacker would. If vacancies carrying your company name or some of your data start appearing on underground message boards, then somebody somewhere has you in their sights. And the sooner you know about it, the better you can prepare.”

  • DJI To Open Flagship Store In Hong Kong

    DJI To Open Flagship Store In Hong Kong

    DJI, the world leader in unmanned aerial vehicle technology, said Monday it will soon open a flagship store in Hong Kong featuring flight cages, experience zones, an aerial photo gallery, technical support center and DJI’s full range of consumer and professional products.

    Located at the center of Hong Kong’s busiest shopping district in Causeway Bay, the three-story, 10,000+ square-feet store will open at the end of September 2016. In keeping with the scintillating Hong Kong skyline, the building will display animated DJI logos and drone silhouettes to add to the Victoria Harbor evening backdrop.

    More than just a retail outlet, the Hong Kong flagship store will provide a location where the worldwide community can connect to share their experience of flight and explore the latest UAV products and aerial cameras. The ground floor will have on display DJI’s full range of aerial and handheld products, while the SkyPixel Gallery on the first floor will showcase breathtaking examples of aerial photography from around the world. The second floor will house the technical support center and a dedicated space for workshops, seminars and special events.

    “As interest around our aerial technologies continues to grow, the expansion of our flagship business will provide a  place for people to see, touch and learn about our products first hand,” said Frank Wang, DJI Founder and CEO. “Discovery is an important part of the learning process and when people understand how easy it is to use the technology, they will find ways to incorporate it into their lives or for their businesses.”

    The Hong Kong flagship store is DJI’s third foray into retail after the December 2015 opening of its first flagship store in in Shenzhen, China, followed by the Seoul, Korea flagship in March 2016.

    Hong Kong is an important market for DJI here in Asia and remains a tourist hot spot for people from around the world,” said DJI Hong Kong Regional Manager Sarah Chuang. “The store will provide an opportunity for us to engage consumers from all walks of life, from local photographers to aerial enthusiasts across Asia to travelers visiting Hong Kong looking for the coolest and latest technologies. We want to provide a truly unique DJI experience for anyone who walks into our store.”

    On display and for sale will be DJI’s consumer products, such the Phantom series of drones and the Osmo stabilized 4K handheld camera, as well as professional products, including the Inspire 1 and Matrice series, the Zenmuse Z3, X5R, and XT cameras, and the Ronin handheld three-axis camera gimbal line.

    The Hong Kong Flagship store is located at TOWER 535, Shop G07, 535 Jaffe Road, Causeway Bay, Hong Kong. More details will be announced closer to the grand opening day in late September.

  • Prada Asia heads online as sales slip

    Prada Asia heads online as sales slip

    The Italian-headquartered, Hong Kong-listed luxury brand says its Asia Pacific sales slumped  18 per cent on a constant currency basis in the first half of this year.

    “The negative economic backdrop continued to impact performance in both Hong Kong and Macau, but signs of improvement have been visible since July across Greater China,” the company noted in its results.

    And after a period of consistent growth since 2010, sales in Japan fell 9 per cent, mainly due to lower tourist flows from China caused by a less favourable exchange rate.

    CEO Patrizio Bertelli says the company will now make China, Hong Kong and Singapore its priorities in roll out its new eCommerce platform, which is expected to be global within to years.

    “At the same time there will be a constant enhancement of the online shopping experience,” he said. “Our eCommerce offer will also leverage new partnerships with international leaders in the sector.”

    Globally, Prada achieved net revenues of €1.6 billion, down 13 per cent on a constant currency basis. The decline was largely in the retail channel while Prada’s wholesale business remained stable thanks to an initial positive contribution from recent partnerships with international e-tailers and its licensing division, where good progress from royalties driven by the success of the new fragrances and eyewear.

    Net profit margin was down from 24 per cent of revenues in the first half of last year to 21 per cent. Net income amounted to €142 million, representing 9 per cent of consolidated revenues (10 per cent in 2015).

    Bertelli is upbeat about the remainder of 2016.

    “With the implementation of the first phase of rationalisation of various management and operating processes and with the launch of a series of new initiatives that will allow the group to respond quickly to the requirements of a rapidly evolving market, I see 2016 as a turning point.”

    He said the company’s retail network is subject to rigorous review including closure of non- strategic locations and selective openings in high potential markets.

    “Part of this process will also include the launch of new concepts such as the recent restyling of the Prada stores at Plaza 66 in Shanghai and GUM in Moscow, redesigned to offer a new and exclusive shopping experience for increasingly demanding clients.”

  • SmarTone FY16 profit falls 15%

    SmarTone FY16 profit falls 15%

    Hong Kong’s SmarTone has reported a 15% slump in net profit for the financial year ending in June, as the company felt the brunt of the ongoing maturation of the smartphone market.

    Net profit declined to HK$797 million ($102.7 million), as handset earnings crashed 77% back to historical levels due to the impact of this maturation on the smartphone segment.

    Group total revenue fell 2% to HK$18.36 billion, with service revenue also declining 2% due in part to lower roaming and pre-paid revenue.

    But net of handset subsidy amortization service revenue stayed flat at HK$4.79 billion due to underlying growth in the operator’s local postpaid business.

    Hong Kong customer numbers grew 1% to 1.97 million, with postpaid churn remaining unchanged at 0.9%. Mobile postpaid ARPU meanwhile rose 2% to HK$301.

    While SmarTone noted that the Hong Kong telecoms market remains competitive, the operator expressed optimism about its prospects for the current financial year. SmarTone’s financial report notes that the company is “well-placed to capture industry opportunities and bring value to both customers and shareholders in the long term.”

  • Taiwan Eyes More than 200,000 Indonesian Tourists

    Taiwan Eyes More than 200,000 Indonesian Tourists

    Taiwan is eyeing as many as 200,000 tourists from Indonesia to visit Taiwan this year, or an increase from that in 2015, where at around 177,743 Indonesian tourists visiting Taiwan.

    Taiwan Tourism Bureau Director David Tsao said that to meet the target, it has held a tourism exhibition at Grand City Surabaya Mall & Convent on 26 to 30 August, 2016.

    “In 2015, tourists visiting Taiwan reached 10.439 million of them and 177,743 of them are Indonesian tourists,” he said in Surabaya.

    He added that one of the attractions of Taiwan’s tourism is its landscape that is different from the sights in Southeast Asian countries.

    “For example in the northern region of Taiwan precisely on the island of Li, the weather is cooler and you can find snowfall there,” he said.

  • Bahrain-Indonesia trade ties discussed

    Bahrain-Indonesia trade ties discussed

    Bahrain Chamber of Commerce and Industry (BCCI)’s chairman Khalid Almoayed alongside a number of board members and Acting CEO have met the Indonesian ambassador to Bahrain, Chilman Arisman.

    The meeting hailed the deep-rooted relation between the Kingdom of Bahrain and the Republic of Indonesia and discussed the promising sectors and incentives offered to investors.

    Almoayed underlined the importance of reinforcing the exchange of business delegations and holding business events to bridge the knowledge gap between Bahraini and Indonesian business owners and stimulate trade, partnership, and investments.

  • Thousands of foreign tourists come to Enliven Togean Festival

    Thousands of foreign tourists come to Enliven Togean Festival

    Thousands of tourists from Italy, France, Germany, Australia, and South Korea, among other things, were present to enliven the Togean Festival, opened by Central Sulawesi Vice Governor Soedarto in Tojo Unouno district on Saturday.

    Held from Augut 27 to 31, 2016, the Togean Marine Festival aims to promote the natural beauty and unique underwater paradise in Tojo Unouno district, according to Central Sulawesi Culture and Tourism Office Chief Siti Norma Mardjanu.

    “Yes, more than one thousand tourists from various countries are now in Tojo Unauna to enliven the marine festival of Togean Islands charm,” Mardjanu affirmed here on Sunday.

    According to her, all cottages accommodations in Tojo Unauna are fully booked by the foreign tourists, and many of them have to stay at the homes of local government officials.

    To enliven the Togean Marine Festival, the foreign tourists also participates in road race hosted by Tojo Unauna District Head Mohammad Lahay, underwater photo contest, boat race, the tug of war on the boats, cultural attraction, traditional martial arts, swimming and fishing contest.

    Increased tourism promotion in Togean, according to her, will continue to be made through the festival by involving the Ministry of Tourism to maximize the dissemination of information about the charm of the area nationally and internationally.

    “Central Sulawesi provincial government took the central government to participate in promoting the Tojo Unouno tourism through the Togean Marine Festival,” Mardjanu explained.

    Togean Marine Festival is being held to promote the regional tourism in the country and abroad in a bid to boost tourist visits to Togean Islands.

    Indonesia is home to some of the worlds most beautiful aquatic areas including the Togian Islands, where diving is one of the best things the visitors can do.

    “Tropical coral reefs filled with an abundance of marine life can be found in many areas around the island,” she said.

  • Indonesia Port Net to be Launched by Year-End

    Indonesia Port Net to be Launched by Year-End

    President Director of state-owned seaport operator PT Pelindo II Elvyn G. Masassya said the implementation of a single Internet-based electronic service or the Indonesia Port Net (Inaportnet) in Pelindo I to Pelindo IV has entered the finalization stage.

    Inaportnet is expected to improve connectivity of the four enterprises.

    Masasya added the Inaportnet application throughout all seaports managed by PT. Pelindo would be gradually done.

    “Our plan is that the Inaportnet in all the seaports managed by PT. Pelindon will be integrated at the end of 2016,” she said in Jakarta on Saturday.

    The Inaportnet will integrate the information system of ports throughout Indonesia and one of the benefits is to monitor domestic commodity and anticipation of complaints about waiting times for vessels.

  • Jokowi to Open Indonesia Fintech Festival and Conference 2016

    Jokowi to Open Indonesia Fintech Festival and Conference 2016

    President Joko “Jokowi” Widodo is scheduled to open the Indonesia Fintech Festival and Conference 2016 at the Indonesia Convention Exhibition, Tangerang, on 29th August 2016. The event is organized by the Financial Service Authority (OJK) and the Indonesia Chamber of Commerce and Industry (Kadin).

    “President Jokowi will open the event and it will be closed by Queen Maxima of the Netherlands,” said the OJK’s Deputy Commissioners for Non-bank Finance Industry (IKNB) Dumoly F. Pardede on Thursday.

    Dumoly said a startup competition will be held during the event. In addition, an international financial technology conference will also be held. It will also provide assistance to fintech startups. “It will also host meetings between investors.”

    The event is aimed at establishing shared understanding of harmonious development of fintech ecosystem among industrial stakeholders in Indonesia. “There’s a shared commitment among several fintech practitioners to enhancing fintech in Indonesia,” Dumoly explained.

    Dumoly said the festival will be held annually in order to produce the best startups. “It’s a prestigious event, we will create an area of fintech, new trends and cultures in Indonesia,” he said.

    Kadin’s Startup Technology Innovation Department head Patrick Walujo said 72 startups will participate in the festival. “They will exhibit their products. We expect to see more startups next year,” he said.

  • Many foreign banks have not complied with SMEs credit policy

    Many foreign banks have not complied with SMEs credit policy

    Bank Indonesia said many banks mainly branches of foreign banks have not complied with the call for setting aside at least 10 percent of their credits for micro, small and medium enterprises (SMEs) .

    Head of Bank Indonesias division for development of SMEs Yunita Resmi Sari in Jakarta said despite facility such linkage branches of foreign banks are still in difficulty in extending credits for SMEs as asked by the central bank.

    “We are aware that foreign banks have limited networks of branches and their capacity is not for SMEs,” Yunita said here on Thursday.

    In 2015, the central bank asked banks to increase the portion of their credits for SMEs by 5 percentage points a year to 20 percent in 2018.

    Yunita , the central bank is preparing a policy on SMEs credits from foreign bank branches.

    Until August, this year, more than 100 of the 119 banks in the country already set aside 10 percent of their credits for SMEs.

    Yunita said the SMEs credit market is still wide open , pointing out only 22 percent of 57.8 million units of SMEs have access to bank credits.

    SMEs account only 19.7 percent or Rp827.3 trillion of the total outstanding credits of banks in the country by the end of the second quarter of 2016.

    The SMEs credits grew 8.3 percent year-on-year in the second quarter of 2016.

  • Electricity Prices May Decline

    Electricity Prices May Decline

    The National Energy Board (DEN) is asking state power company PLN to review its suggestion to formulate a new formula for the basic prices of electricity. The DEN believes a new price formula will bring benefits to the public.

    “Concept-wise, it is good. But PLN must first hold a price simulation to figure out how positive a new price scheme would be for the public. The tariffs could be a lot cheaper,” DEN member Abadi Purnomo told.

    He said the opportunity to lower electricity prices arrives from the abundant power supply generated by coal-fueled power plans, which accounted for 52.8 percent of the national energy mix last year. The second largest portion is gas energy use with 24.2 percent.

    PLN suggested a new price formula that will include energy mix component in the calculaton. Today’s tariffs calculations only refer to the Indonesian Crude Price (ICP), whereas the use of oil fuel for power-generation has declined from 11.7 percent in 2015 to just 6.7 percent this year.

    Another DEN member Sonny Keraf also supports PLN’s proposal. He asks the government to evaluate the current electricity price formula as a way to develop new renewable energy sources.

    A new, cheaper price electricity scheme will trigger industry growth, Sonny said. Industry players have always complained about Indonesia’s pricy electricity rates that prevent them from competing with other nations.

    PLN’s planning director Nicke Widyawati promised to bring their proposal to the DPR.

    Meanwhile, Acting Energy Minister Luhut Binsar Pandjaitan said his ministry is reviewing the suggestion.