Retail News CRM

Author: Mei Ling Tan

  • Sajo Seafood Buys Hines Cold Chain Shed in Greater Seoul for $65M

    Sajo Seafood Buys Hines Cold Chain Shed in Greater Seoul for $65M

    Sajo Seafood agreed to buy a Greater Seoul cold storage warehouse from Hines and Pebblestone Asset Management for KRW 90 billion ($65 million).

    The purchase gives the South Korean tuna processor and deep-sea fishing group full ownership of Hines Logistics Namyang in Hwaseong, Gyeonggi province. Sajo said the acquisition will expand its storage operations and add a direct distribution hub serving the capital region.

    Payment Schedule and Asset Specs

    Regulatory filings show Sajo paid an initial 10 percent deposit of KRW 9 billion. A second installment of KRW 18 billion falls due on 30 September, with the final KRW 63 billion balance scheduled for payment when the property transfers on 26 November.

    At the agreed price, Sajo is paying just under KRW 2 million per square metre of floor space. Completed in 2023, the four-level facility spans 487,258 square feet of gross floor area across ambient and refrigerated zones, featuring full ramp access, 10-metre clear ceiling heights, and floor load capacities up to 2.5 tonnes per square metre. E-commerce giant Coupang Fulfillment Services and Korea Food Services Corporation occupy space as key tenants.

    Shifting Cold Chain Capital

    Houston-based Hines and Seoul-based Pebblestone broke ground on the Namyang site in late 2021 as Hines made its first direct property investment in South Korea. The exit allows both managers to return capital after building out the multi-temperature asset from scratch on a 30,658-square-metre plot.

    Food producers across East Asia continue to buy dedicated logistics hubs rather than rely entirely on third-party cold chain operators, aiming to lock in temperature-controlled capacity near dense urban populations. The Hwaseong site sits within 50 kilometres of 21 million consumers, positioned between Incheon Airport, Incheon Port and Pyeongtaek Port.

    Hines has stepped up capital recycling across Asia, selling a Tokyo office tower to LaSalle Investment Management while acquiring Singapore retail assets. The final ownership transfer for the Hwaseong cold storage facility remains on track for completion on 26 November.

  • Ally Adds Collagen and Lifts Protein to 10G in Thailand Drink Relaunch

    Ally Adds Collagen and Lifts Protein to 10G in Thailand Drink Relaunch

    Thai functional beverage brand Ally has reformulated its Pro Fiber line in Bangkok, raising plant protein to 10 grams per bottle and adding collagen peptide.

    The updated ready-to-drink formula packs 20,000 milligrams of dietary fiber alongside psyllium husk to target digestive health and sustained fullness. Two new flavour profiles accompany the relaunch: Grape Berry, blending grape, blueberry, acai, and kale, alongside Apple Lemon, made with apple, pear, lemon, and kale.

    Upgraded formulation and new blends

    Ally originally launched the Pro Fiber line in 2025 with 8 grams of plant protein per unit. The revised 2026 iteration increases the protein dose extracted from pea and soy by two grams to support muscle maintenance while introducing marine collagen peptide aimed at skin hydration.

    Packaging changes reflect the formula shift. Psyllium husk, previously listed as a minor claim at the bottom of the bottle, now sits prominently on the front panel as a key functional selling point.

    Shift in convenience beverage positioning

    Thai beverage makers are packing multiple functional ingredients into single stock-keeping units rather than selling standalone protein or fiber drinks. Ally itself expanded into clear protein with creatine in May 2026 and rolled out ready-to-eat overnight oats in July 2026, building out a convenience-led functional nutrition portfolio in urban retail chains.

    Distribution continues across convenience store chillers and supermarket shelves in Thailand, where consumer uptake of high-fiber meal-replacement beverages will test whether multi-benefit RTD drinks can sustain premium shelf space against traditional dairy and juice competitors.

  • Blue Bottle Coffee Enters Thailand with Two Bangkok Cafes

    Blue Bottle Coffee Enters Thailand with Two Bangkok Cafes

    Blue Bottle Coffee will enter Thailand with two Bangkok locations developed alongside regional retail operator Valiram. The rollout at Dusit Central Park and the EmQuartier shopping mall follows the brand’s acquisition from Nestle by Chinese private equity firm Centurium Capital for less than $400 million earlier in 2026.

    Valiram is managing the Thai rollout after steering Blue Bottle Coffee’s entry into Singapore in 2024. The two companies are dividing the Bangkok launch across two distinct retail formats.

    Two Formats for Bangkok

    The Dusit Central Park cafe will operate as an open-format unit geared toward everyday foot traffic and core espresso drinks. The second site, at EmQuartier in the Sukhumvit commercial district, will serve as the brand’s flagship cafe in Thailand.

    That flagship will feature hand-brewed pour-overs, single-origin coffees and rotating seasonal menus. Both stores put the California-founded brand into direct competition with established specialty operators and international chains in Bangkok’s crowded cafe scene.

    Valiram Partnership and Centurium Ownership

    Blue Bottle Coffee already runs stores across Japan, South Korea, mainland China, Hong Kong and Singapore. Adding Bangkok extends its push into Southeast Asia under Centurium Capital, the private equity group that built Luckin Coffee into China’s largest coffee chain by store count.

    Valiram provides local operational muscle, bringing real estate relationships across luxury malls and transit hubs in the region. The group continues to handle store buildouts and staffing as the chain prepares to open doors at Dusit Central Park first before launching the EmQuartier flagship.

  • Alibaba Net Profit Plunges 75 per Cent on Heavy AI Infrastructure Spending

    Alibaba Net Profit Plunges 75 per Cent on Heavy AI Infrastructure Spending

    Alibaba Group reported a 75 per cent plunge in quarterly net profit to June as capital expenditure on artificial intelligence surged. Group revenue rose 9 per cent to 268.95 billion yuan, matching market forecasts while cloud computing gains offset slowing domestic commerce.

    Capital spending climbed 75 per cent year on year to 67.68 billion yuan in the three months to June 30. The Hangzhou-based group has already deployed half of its 380 billion yuan AI investment budget scheduled through 2029, buying server processors and expanding data centres to handle surging enterprise demand.

    Surging Compute Costs and In-House Silicon

    Chief executive Eddie Wu said the company expects to break even on its AI-related capital expenditure within three years at current gross margins. Revenue from AI cloud and compute services jumped 45 per cent to 48.44 billion yuan during the quarter, with annual recurring revenue from AI model-as-a-service exceeding 16 billion yuan.

    To rein in hardware expenses, Alibaba is replacing commercially procured processors with silicon built by its in-house chip division, T-head. The proprietary semiconductors are now running across clustered server racks for both model training and inference workloads, which management expects will widen operating margins as deployment expands.

    The margin squeeze mirrors the heavy infrastructure spending across Asia’s technology sector, where hyperscalers and platform operators are absorbing massive upfront costs before enterprise software monetization matures. Alibaba is defending its cloud dominance against domestic rivals Tencent and Baidu, while simultaneously backing frontier model developers such as Moonshot to anchor future compute traffic to its ecosystem.

    Reorganisation and Core Retail Headwinds

    Adjusted earnings per American Depositary Share fell to 8.52 yuan, trailing the 10.53 yuan consensus tracked by LSEG. Softer consumer demand in mainland China continues to weigh on the core marketplace division, prompting chief financial officer Toby Xu to highlight macroeconomic friction across domestic online shopping.

    Wu now leads the dedicated Alibaba Token Hub following an internal restructuring that split operations into four divisions: e-commerce, AI cloud and compute, model applications, and other businesses. Affiliate Ant Group recorded a 1 per cent rise in quarterly profit as it tests AI shopping assistants and digital health tools.

    Management is targeting overall profitability for the group’s quick-commerce unit by fiscal 2029, while tracking a three-year payback window on its current infrastructure outlays.

  • Pop Mart First-Half Revenue Rises 23.8% to RMB 17.17 Billion

    Pop Mart First-Half Revenue Rises 23.8% to RMB 17.17 Billion

    Pop Mart grew first-half revenue by 23.8 per cent to RMB 17.17 billion (US$2.4 billion) in Beijing as newer character lines diversified earnings beyond Labubu. Gross margin reached 69.7 per cent for the six-month period.

    The Monsters franchise, which includes Labubu, generated RMB 4.45 billion to remain the company’s largest intellectual property. Its share of total corporate revenue dropped to 26 per cent from 34.7 per cent a year earlier, reflecting faster gains in secondary product lines.

    Twinkle Twinkle Gains on The Monsters

    Twinkle Twinkle surged 580.6 per cent year on year to RMB 2.65 billion, making it the fastest-expanding property in the catalogue. Four other lines, Crybaby, Dimoo, SkullPanda and Hirono, each generated more than RMB 1 billion during the half.

    Product formats showed similar diversification away from standard vinyl blind boxes. Revenue from plush items climbed 60 per cent to RMB 9.82 billion as shoppers bought bag charms, soft figures and related lifestyle goods.

    Collectibles makers across Asia face rapid fad cycles once single characters peak on social media. By shifting production capacity toward plush accessories and scaling multiple character rosters simultaneously, Pop Mart is attempting to build a multi-franchise licensing business modeled on Sanrio rather than a single-hit novelty toy brand.

    Global Store Count Reaches 676 Locations

    Physical distribution expanded by 46 net new stores and 190 roboshops in the first six months of the year. That brought the global brick-and-mortar network to 676 physical outlets and 2,827 automated vending units.

    The Americas led store additions with 22 net openings to reach 86 sites. Asia-Pacific locations outside Greater China grew by five to 90, while Europe and other regions added nine stores to stand at 45.

    Food and beverage formats are also rolling out internationally. Following trial pop-ups across mainland China and a permanent venue in Aranya, the group opened its first overseas Pop Bakery site on Sentosa Island in Singapore, setting up the brand’s next wave of lifestyle retail openings.

  • Yum China Opens 300Th Pizza Hut Burger Bar as Fast-Food Demand Grows

    Yum China Opens 300Th Pizza Hut Burger Bar as Fast-Food Demand Grows

    Yum China opened its 300th Pizza Hut Burger Bar in Wuhan, expanding a side-by-side restaurant format that reached the threshold within ten months of its national rollout.

    The concept grew from zero to more than 200 locations in its first six months, relying on shared kitchen space and existing staff inside established Pizza Hut outlets to keep capital expenditures low.

    Shared Kitchens and Dough Buns

    Pizza Hut entered the burger category two years ago by using baked pizza dough as buns. The Burger Bar format formalised that experiment into a dedicated counter model, preparing patties on a hot griddle in an open kitchen beside the main dining room.

    The 300th unit in Wuhan introduced regional menu items, including a crayfish crispy lotus root cheeseburger, tailoring offerings to local tastes. Management expects total burger sales across regular restaurants and dedicated Burger Bars to top RMB1 billion (US$148.6 million) this year. That total represents between 5 per cent and 6 per cent of Pizza Hut China’s overall revenue.

    Chasing Fast-Food Growth

    Fast-food chains across Asia are leaning heavily into lower-cost, single-diner formats to capture shifting customer habits. Smaller household sizes, tight consumer budgets and a preference for fast, individual meals have turned Western fast food into a contested segment in mainland cities.

    Market researcher Emergen Research valued China’s burger sector at US$18.4 billion in 2025, forecasting an annual growth rate of 8.7 per cent through 2035. While western burger chains continue adding standalone stores, Yum China is using its existing Pizza Hut footprint to capture market share without the overhead of building new restaurant shells.

    Yum China raised its expansion targets for the broader Pizza Hut chain, aiming for more than 800 net new store openings annually in 2027 and 2028, up from its earlier guidance of 600.

  • Nissan Streamlines Vehicle Engineering to Match Fast Chinese Product Cycles

    Nissan Streamlines Vehicle Engineering to Match Fast Chinese Product Cycles

    Nissan Motor is overhauling its engineering process in Yokohama to match Chinese rivals that now bring new vehicles to market in around two years.

    The Japanese carmaker plans to standardize powertrains, basic frameworks and software technologies across multiple vehicle models to lift operating profitability.

    Shared architecture and software

    Under the revised development approach, engineers will apply common modular components across different model segments rather than engineering separate platforms from scratch. Shared software architecture and unified powertrain systems are designed to strip out duplicate spending across regional model lines.

    Speed has become the decisive operating metric across Asia’s car industry. Chinese automakers have compressed product development schedules to roughly 24 months, forcing legacy manufacturers in Japan to abandon four-to-five-year vehicle gestation cycles or risk losing showroom share to quicker model refreshes.

    Pressure from two-year cycles

    The strategy shifts Nissan toward a shared development structure similar to emerging electric vehicle manufacturing playbooks. Faster design iteration lets automakers respond directly to price shifts, updating cabin software and battery configurations as supplier costs fall.

    For retailers and dealership networks across the Asia-Pacific region, shorter vehicle development timetables mean quicker inventory turnover and more frequent product updates. Managing standardized software stacks also lowers warranty servicing complexity across multi-market distribution networks.

    Nissan held to its full-year earnings forecast after reporting a first-quarter net profit, leaving investors watching how quickly the unified development platform translates into production-ready showroom models.

  • Thai Hypermarket Operators Face Slowing Growth Under Stiff Competition

    Thai Hypermarket Operators Face Slowing Growth Under Stiff Competition

    Thailand’s hypermarket operators face an uphill battle to expand as stiff competition and sluggish market momentum stall growth across large-format stores. The segment contends with difficult trading conditions where incremental gains require heavy operational effort against entrenched local rivals.

    Competition Slows Large Store Expansion

    Retail analyst Michael Baker reported that large-format grocery and general merchandise chains across Southeast Asia, led by Thailand, now operate in a grinding environment defined by slow forward momentum. Operators face intense rivalry that makes physical network expansion costly and difficult to sustain.

    Big-box retailers across the region have struggled to replicate past expansion rates as neighborhood formats, specialty retailers, and convenience networks pull shoppers away from suburban megastores. In markets like Thailand, where retail space per capita in urban centers is already high, winning market share requires squeezing efficiency out of existing floorspace rather than adding square footage.

    Market Headwinds Across Southeast Asia

    Large-format food and merchandise chains must resolve internal operating pressures while adapting store formats to retain foot traffic. Slower retail turnover across broad merchandise categories has forced chains to rethink store layout and inventory deployment.

    The next quarterly retail filings across Thai listed operators will show whether store rationalization and format downsizing can protect operating margins.

  • Adore Beauty Hits Record Sales of $207 Million as Store Costs Cut Profit

    Adore Beauty Hits Record Sales of $207 Million as Store Costs Cut Profit

    Adore Beauty lifted full-year revenue 4.3 per cent to a record $207.3 million for the 12 months ended June 30, but heavy physical expansion cut underlying earnings by more than half.

    Underlying EBITDA fell to $3.8 million from $8.1 million a year earlier. Physical stores contributed $18.6 million to total revenue, while gross margin declined 52 basis points to 34.8 per cent.

    The Cost of Opening 13 Stores

    The Australian retailer added 13 locations during the financial year, comprising 11 Adore Beauty outlets and two Ikou shops. That took its national footprint to 20 doors after years of operating as a pure-play digital platform. New customer numbers climbed 14 per cent over the period.

    Alongside lease and fitout costs for an immature store network, the company funded a new national distribution centre, an enterprise resource planning software overhaul, and broader technology upgrades. Weak consumer sentiment in the fourth quarter added further pressure on margins.

    Adore Beauty expects store drag to ease as locations mature over an 18 to 24 month cycle. Pure-play e-commerce operators across the Asia-Pacific region have faced similar margin friction when transitioning into physical storefronts, trading immediate cash flow against long-term customer acquisition.

    Targets for the New Fiscal Year

    Chief executive Sacha Laing said the group has completed its core infrastructure overhaul on budget and on schedule, positioning the business for operational use.

    “The foundations to support our scaling omnichannel operations are now in place,” Laing said.

    Management has set an underlying EBITDA target of $9 million to $13 million for FY27, predicated on top-line revenue expanding by at least 10 per cent.

  • Bangladesh Closes 20,000 Mobile Accounts in Digital Lending and Crypto Crackdown

    Bangladesh Closes 20,000 Mobile Accounts in Digital Lending and Crypto Crackdown

    Bangladesh financial regulators shut down more than 20,000 mobile financial service accounts last month in an expanding crackdown on predatory lending apps, illegal gambling, and unauthorized cryptocurrency trading.

    The enforcement targets unlicensed operators that use local digital payment rails to harvest consumer data, charge interest rates reaching 800 percent, and move illicit funds across borders.

    Harvesting Data and Escalating Interest

    Fraudulent operators run mobile applications under names such as FinCash, Money, PopKash, CashNow, Drutoloan, Fast Loan, Shathi Loan, and Quickloan. During installation, these apps gain access to contact lists, photographs, and private videos stored on borrowers’ devices. Borrowers who miss payment deadlines or contest inflated rates face harassment and extortion threats to leak their personal media to family and employers.

    Scammers also deploy social media pages to advertise microloans carrying sub-market interest rates as low as 5 percent. Victims pay upfront fees and security deposits amounting to Tk 100,000 before administrators sever all contact. Bangladesh Bank confirmed that none of these digital lending applications hold operational licenses in the country.

    Arief Hossain Khan, executive director and spokesperson for Bangladesh Bank, said the central bank’s Payment Systems Department regularly inspects payment service providers and mobile operators. While operators actively track suspicious transactions, screening every single retail transfer remains a structural operational challenge.

    Unlicensed Crypto and Stricter Gambling Penalties

    Central bank investigators also identified unlicensed virtual asset platforms operating inside Bangladesh. A recent central bank inspection revealed that UAE-based platform Fasset, established in 2019 and licensed by Dubai’s Virtual Assets Regulatory Authority, operates locally without authorization. The platform permits domestic users to buy Tether using local bank accounts and mobile wallets on its peer-to-peer marketplace, allowing capital conversion into Bitcoin and Ethereum.

    To curb digital capital flight, the government enacted the Gambling Prevention Act, replacing the colonial-era Public Gambling Act of 1867. The revised statute criminalizes digital casino betting, fantasy sports, and virtual wagering conducted through mobile applications, servers, and digital wallets. Violators face prison sentences ranging from two to seven years and fines between Tk 2 lakh and Tk 5 crore.

    Across Southeast Asia and South Asia, central banks face an identical problem: rapid adoption of mobile wallets has lowered the barrier for predatory fintech syndicates operating outside formal banking supervision. For licensed digital lenders and consumer brands, the proliferation of rogue apps threatens retail trust in legitimate mobile commerce channels.

    The Bangladesh Financial Intelligence Unit and Dhaka Metropolitan Police are now reviewing transaction records across remaining mobile money accounts, with further provider audits scheduled throughout the quarter.

  • Gas Shortage Shuts 80 Percent of Narsingdi Textile Mills in Bangladesh

    Gas Shortage Shuts 80 Percent of Narsingdi Textile Mills in Bangladesh

    A severe natural gas shortage has shut roughly 80 percent of textile and dyeing mills in Narsingdi, wiping out an estimated Tk 500 crore in daily output.

    The industrial hub supplies about 75 percent of domestic fabric demand in Bangladesh, leaving garment makers without essential materials as international buyers cancel orders.

    Rotting Fabric and Idled Boilers

    Narsingdi houses more than 3,000 production units, including 2,500 sizing, spinning, dyeing and weaving mills. About 400 of these operations rely on uninterrupted natural gas at 10 to 15 pounds per square inch to run steam boilers and drying machines. Gas pressure in key industrial pockets like Madhabdi and Chowala fell to zero for four straight days, leaving chemically treated fabric stranded mid-cycle. Fabric left wet beyond 16 hours rots and turns unusable.

    Local industry groups estimate between 10 million and 15 million yards of fabric have been ruined. At Tithi Textile in Madhabdi, 250,000 yards were damaged after generators and machinery stopped. Facing steep losses and wage deadlines, more than 100 mills closed indefinitely, sending workers home on unpaid leave. Others turned to burning wood in steam boilers at a cost of Tk 12,000 a day, skirting local environmental permits after the price of scrap fabric waste spiked.

    Supply Chain Bottlenecks Spread

    The disruption traces back to July 21, when a technical fault crippled an offshore floating liquefied natural gas terminal at Moheshkhali. National gas output plunged from 2,650 million cubic feet per day to 2,175 mmcfd against total demand of 3,800 mmcfd. State distributor Petrobangla lifted supply to 2,300 mmcfd on August 22, but state utility Titas Gas diverted high-pressure flows of 200 PSI to the Ghorashal-Palash fertiliser plant, starving private textile processors.

    Bangladesh remains the world’s second-largest apparel exporter, yet its supply chain faces recurring energy vulnerabilities that threaten delivery timelines for global fashion brands. While competing manufacturing hubs in Vietnam and India rely on more diversified power grids, Bangladeshi mills remain exposed to single-point infrastructure failures in offshore gas infrastructure, compounding margin pressure from rising domestic debt.

    Titas Gas engineers expect regional gas pressure to show initial signs of recovery next week as repair teams complete work on the Moheshkhali LNG terminal.

  • Vietnam’s Viva Star Coffee Expands to Malaysia with October Klang Store

    Vietnam’s Viva Star Coffee Expands to Malaysia with October Klang Store

    Vietnamese cafe chain Viva Star Coffee will open its first Malaysian outlet in October at Wyndham Acmar Klang through a partnership with local firm GinsengWorld Biotech Berhad.

    Under the agreement, GinsengWorld will manage local operations while the Vietnamese group provides coffee sourcing, store formats and franchise systems developed over two decades in its home market.

    Franchise formats and supply chain

    Founded in Vietnam, Viva Star Coffee operates an integrated farm-to-cup model that spans bean cultivation, roasting, packaged exports and retail outlets. The chain relies on local master franchisees to scale across international borders rather than building corporate-owned store networks from scratch.

    Its retail lineup includes Viva Reserve, a higher-ticket format featuring six bean varieties and six brewing methods at a dedicated bar, alongside Viva Togo, a compact concept built for fast-service takeaway orders.

    Beyond store counters, the brand exports packaged coffee to South Korea, the United States, Czechia, Australia and Japan, where it established distribution channels in 2022.

    Regional coffee push into Malaysia

    Malaysia gives Viva Star Coffee its seventh overseas market since beginning its international push in Cambodia in 2018. The company has since added operations in Indonesia, Singapore, Thailand, China and India.

    Southeast Asian coffee operators are competing aggressively across each other’s home territories. Vietnamese chains such as Cong Ca Phe and Viva Star Coffee are taking their robusta-heavy menus into urban Malaysia and Indonesia, where local incumbents and international giants already fight for retail mall footfall and office lunch traffic.

    All eyes turn to the October opening in Klang, which will test how Viva Star Coffee’s franchise pricing and roast profiles compete against established domestic tea and coffee chains.

  • Asian Shares Hold Flat as Investors Await Nvidia Earnings and US Sanctions Plan

    Asian Shares Hold Flat as Investors Await Nvidia Earnings and US Sanctions Plan

    Asian stock benchmarks traded flat on August 24 as investors held back ahead of Nvidia’s earnings and impending US sanctions on Iran. Regional tech exporters stayed cautious after sharp swings last week.

    Tokyo’s Nikkei index held steady following a 4 per cent drop the previous week, while South Korean shares fell 0.8 per cent and Taiwan slipped 0.5 per cent. The broader MSCI Asia-Pacific index outside Japan declined 0.2 per cent in morning trading.

    Tech Earnings and Jackson Hole Outlook

    Consumer electronics supply chains and semiconductor manufacturers across Asia are focused on chipmaker Nvidia, which reports earnings on August 26. Analysts expect quarterly revenue to double to roughly US$92 billion, with full-year revenue guidance projected between US$103 billion and US$105 billion.

    Regional equity markets are also tracking the outlook for US monetary policy. Federal Reserve Chairman Kevin Warsh will address the Jackson Hole economic symposium on August 28, with money markets pricing a 40 per cent probability of a rate increase on September 16 and a full move by December.

    US Treasury yields have continued to pressure equity valuations across the Pacific. Yields on 30-year US debt hovered at 5.2760 per cent, close to a 19-year peak of 5.3371 per cent, despite Treasury Secretary Scott Bessent announcing plans to double government bond buybacks.

    For Asian manufacturers and retail supply chains, high borrowing costs in the US and volatile currency markets keep export financing and inventory management under pressure. When long-term yields remain near multi-decade highs, valuations across Asian tech suppliers face tighter scrutiny from international funds.

    Trade Disputes and Commodity Pressures

    Energy and shipping corridors remain volatile as Bessent prepares to outline fresh sanctions on Iran, which maintains naval control over the Strait of Hormuz. Brent crude slipped 1.0 per cent to US$93.43 a barrel after climbing 6.6 per cent last week, while US crude fell 1.1 per cent to US$86.14.

    Cross-border retail trade faces additional frictions following a breakdown in US-Canada trade negotiations. Canadian Prime Minister Mark Carney confirmed reciprocal tariffs on US imports, covering electronics, appliances, dairy, steel, agricultural equipment, and pulp and paper.

    Gold prices advanced 0.4 per cent to US$4,623 an ounce, positioning bullion for a monthly gain exceeding 14 per cent. Attention now shifts to upcoming US core inflation figures, expected to hold at 3.3 per cent for July.

  • Hyundai Opens Pre-Sales for China-Built Ioniq V Sedan from $17,680

    Hyundai Opens Pre-Sales for China-Built Ioniq V Sedan from $17,680

    Beijing Hyundai opened pre-sales for its Ioniq V electric sedan at the Chengdu Auto Show on Friday, pricing the entry model at 119,900 yuan ($17,680). The vehicle leads a planned rollout of 20 electrified models designed to rebuild the South Korean carmaker’s presence in China.

    Buyers can choose between three battery-electric variants ahead of the sedan’s formal showroom launch in September. The base 540 Max starts at 119,900 yuan, the 540 Max+ costs 129,900 yuan, and the top-tier 650 Max+ sells for 139,900 yuan. All three run on an 800-volt high-voltage fast-charging architecture and deliver up to 650 kilometres of range under China Light-Duty Vehicle Test Cycle standards.

    Local Hardware and Chinese Software

    Developed entirely by Hyundai’s China design centre, the five-seat fastback sits on the group’s dedicated E-GMP platform. The sedan measures 4,900 mm long with a 2,900 mm wheelbase, featuring frameless doors and single-motor powertrains rated at either 140 kW or 168 kW. Contemporary Amperex Technology Co. Supplies the lithium iron phosphate battery packs in 53.5 kWh and 66.8 kWh capacities.

    Inside the cabin, the joint venture outsourced key digital systems to domestic tech firms. The dashboard holds a 27-inch 4K display powered by Qualcomm’s Snapdragon 8295 chip, while the operating software integrates artificial intelligence models from Baidu and ByteDance. Driver-assistance software comes via Beijing Hyundai’s partnership with autonomous driving startup Momenta, enabling highway-level assisted navigation.

    The Volume Target for 2030

    Foreign legacy carmakers have spent two years cutting prices and reshaping supply chains after losing market share to domestic manufacturers such as BYD. Rather than importing global variants at uncompetitive price points, Hyundai is shifting vehicle development directly into China and sourcing cheaper local components to defend retail volumes.

    Beijing Hyundai plans to add an extended-range electric version to the Ioniq V line later in the cycle. The company has set a target to sell 500,000 vehicles annually in China by 2030, with plans to export the Chinese-developed sedan to overseas markets later in the production run.

  • Tokopedia and TikTok Shop Lift Indonesian Merchant Sales 51 per Cent

    Tokopedia and TikTok Shop Lift Indonesian Merchant Sales 51 per Cent

    Tokopedia and TikTok Shop drove a 51 per cent increase in sales of Indonesian local products during the first half of 2026. The combined marketplace moved nearly 700 million items over the period.

    Gross merchandise value for the joint #BeliLokal initiative climbed 14 per cent during the six months. Merchant participation rose 50 per cent compared with the first half of 2025.

    Expanding beyond Java

    Agency Bukacerita created an Independence Day campaign named Pahlawan Beli Lokal for the platform. It promotes domestic makers of fashion, packaged food, automotive goods, and electronics. The campaign runs on social feeds and a dedicated web hub, featuring regional brands like Malang snack producer Apelicious and cosmetics brand Facetology.

    According to internal survey data from TikTok Shop, 72 per cent of participating sellers gained new customers through discovery commerce tools. Another 67 per cent used the channel to launch new product lines. Live shopping sessions, affiliate tie-ups, and short videos generated most of those initial sales.

    ByteDance and GoTo are working to satisfy Indonesian regulators following the state-mandated merger of TikTok Shop and Tokopedia. Both operators face stiff competition from Shopee and direct-from-factory platforms in Southeast Asia’s largest consumer market. Alignment with local merchants remains critical for their political and commercial standing.

    Training and registration push

    The platforms have turned the promotional campaign into a permanent merchant onboarding track. More than 4,800 micro, small, and medium enterprises, creators, and affiliates have completed training modules. These sessions cover intellectual property rules, live selling, and official business registration numbers.

    Most participating merchants operate outside Greater Jakarta. Half of the training workshops took place outside Java to tap production hubs across the outer islands.

    “In the spirit of Independence Day, we want to continue strengthening collaboration with the government, creators, partners, and the community through #BeliLokal so that more local businesses can move up a class, build more competitive businesses, and grow sustainably,” said Stephanie Susilo, executive director of Tokopedia and TikTok Shop Indonesia.

    Plans are underway to expand regional onboarding workshops into secondary cities across Sumatra and Sulawesi through the fourth quarter.