Retail News CRM

Author: Mei Ling Tan

  • KBank Financial Conglomerate acquires additional investments in Bank Maspion

    KBank Financial Conglomerate acquires additional investments in Bank Maspion

    KASIKORNBANK FINANCIAL CONGLOMERATE has acquired additional investments in PT Bank Maspion Indonesia Tbk (Bank Maspion) in Indonesia through KASIKORN VISION FINANCIAL PTE. LTD. (KVF) and PT. KASIKORN VISION FINANCIAL INDONESIA. Following the capital injection, the post-investment valuation of Bank Maspion stands at 15.441 billion Baht, an increase of 8.0 billion Baht. Therefore, the subsidiaries increased its stake in Bank Maspion to 84.55 percent, from 67.68 percent, reaffirming its position as a controlling shareholder in this Indonesian bank. The move also reinforces KBank’s goal of becoming the largest bank in East Java.

    Mr. Pattarapong Kanhasuwan, Chairman of KASIKORN VISION FINANCIAL COMPANY PTE. LTD. (KVF), said, “KASIKORNBANK FINANCIAL CONGLOMERATE initially acquired a stake in Bank Maspion in 2017. In the latest development, the subsidiaries have acquired additional shares in Bank Maspion, increasing its stake to 84.55 percent. The valuation of Bank Maspion after the capital injection amounted to 15.441 billion Baht, increasing 8.0 billion Baht. This strategic move will contribute significantly to the continuous growth of Bank Maspion, strengthening its operations and enhancing its customer service capabilities, while fortifying KBank’s position as the controlling shareholder of Bank Maspion.”
    KBank has leveraged its more than 78 years of experience in the banking business, along with its capability and expertise in financial innovations and technologies, to cement Bank Maspion’s strengths in all aspects. Such endeavors are intended to ensure that Bank Maspion becomes a “Right Financial Partner” that can provide services beyond traditional financial products in order to support the growth of customers’ businesses and facilitate Indonesia’s long-term economic growth through the implementation of business strategies that focus on three customer segments, namely corporate, SME and retail.

    • Corporate customer segment has exhibited bright growth prospects and is a major driver of the Indonesian economy. With that in mind, KBank intends to enhance Bank Maspion’s service provision capability and deepen client relationships in order to be a potential source of financing and offer comprehensive banking services.
    • For the SME customer segment, KBank has developed and improved products and services to make it easier to audit income, approve loans and lift various restrictions in order to respond to customers’ needs more quickly while also maintaining the security of related transactions. KBank is planning to offer P2P lending soon, as well.
    • As for the retail customer segment, KBank aims to expand its retail customer base through the design and development of various products and services, including Payroll, QRIS (Indonesian Standard QR Payment), deposit accounts, and personal loans, while introducing marketing campaigns to meet the diverse needs and behaviors of retail customers in their daily lives.

    Mr. Pattarapong added that the capital injection is in alignment with the Bank’s strategy of business expansion to become A Regional Bank of Choice within AEC+3. The focus is on enhancing capabilities in financial innovations and technologies to provide services beyond banking solutions in response to current changes. KBank’s competitive advantage of a service network in key strategic areas across the region will strengthen connectivity between Indonesia and the AEC+3 market. The effort is in line with KBank’s goal of becoming the largest bank in East Java by 2027.

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  • Embraer E2 jets gain type certification in Singapore

    Embraer E2 jets gain type certification in Singapore

    Embraer’s E190-E2 and E195-E2 have attained type certification from the Civil Aviation Authority of Singapore (CAAS).  Scoot, low-cost subsidiary of Singapore Airlines, is due to operate the E190-E2 from 2024.

    The E190-E2 and E195-E2, considered the world’s quietest and most fuel-efficient single-aisle aircraft, were certified by three key civil aviation authorities in 2018 and 2019, which include the FAA in the US, EASA in Europe and ANAC in Brazil. 

    Embraer and CAE recently announced plans to establish a state-of-the-art E2 full flight simulator and pilot training programme in Singapore, which will commence operations by the end of this year. The full flight simulator is based at the Singapore-CAE Flight Training Centre which is located at SIA Training Centre.

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  • Half of Vietnamese population shops online

    Half of Vietnamese population shops online

    More than half of Vietnam’s population shopped online last year as both supply and demand in the e-commerce sector continue to boom.

    Dang Anh Dung, deputy CEO of Lazada Vietnam, told the forum on e-commerce on Tuesday that a report by Google and Temaske & Bain said around 57 million Vietnamese made online purchases last year, most of them in Hanoi, Ho Chi Minh City and Da Nang City.

    The report also asserted that Vietnam’s young population is playing an important role in the digital economy.

    Around 43% of Lazada shoppers are Gen-Zers born in 1997 or later, said the deputy CEO of the digital shopping channel that has been called “The Amazon of Southeast Asia.”

    According to Dung, this demographic in Vietnam accesses the app every day.

    On average, each individual in this young Vietnamese population bracket buys products from seven different categories, Dung told the conference. “Young people are becoming more particular with their products. They seek values and will change brands if they receive low-quality items.”

    Tran Van Trong, general secretary of the Vietnam E-commerce Association (VECOM), said Vietnam is seeing a boom in e-commerce as the number of online shopper surges with improving shopping skills and increasing purchase value.

    The rise in demand has also prompted supply surges, he said. “Millions of people are now online sellers, and the majority of them do not even own a brick-and-mortar store.”

    Businesses are evolving fast to adapt to new ways of selling products, Tand said, adding that many retail firms are responding to the changing times by issuing new policies on online shopping.

    The government has also tightened e-commerce tax collection and is punishing those who sell counterfeit products, he pointed out.

    The Ministry of Industry and Trade recently reported that Vietnam’s e-commerce gross merchandise value is growing by 16-30% a year and could reach $20.5 billion this year.

    The Google report said that Vietnam’s digital economy could reach a total value of $30 billion this year, and $45 billion by 2025.

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  • Vegetable, fruit exports reach $5.2B record

    Vegetable, fruit exports reach $5.2B record

    Vietnam’s vegetable and fruits exports surged 70% year-on-year in the first 11 months to $5.2 billion, a new historic peak.

    Durian accounted for 40% of the value, followed by jackfruit, watermelon, grapefruit and longan, all recording growth between 50% and 200%, according to the Vietnam Fruits & Vegetables Association (VFA).

    This was the first time that vegetables and fruits exceeded the export value of key agricultural produce such as rice, cashew nuts and coffee.

    China was the biggest market in the first 10 months at $3.2 billion, accounting for 66% of the total. Growth was 2.7% year-on-year.

    It was followed by the U.S., down 3% to $212 million, South Korea, up 25% to $187 million and Japan, up 7% to $151 million.

    The surge in demand from China and other countries helped exports to reach new heights, said Dang Phuc Nguyen, VFA general secretary.

    More durian farming areas have been approved for exports to China this year and this helped increase shipment, he said, adding that improved infrastructure and logistics also contributed to the growth.

    China is considering importing fresh coconuts from Vietnam and the fruit if approved, will likely be another one that records billions in exports.

    Vietnam is negotiating with the U.S. and Australia to export passion fruit there. It is also in talks to ship grapefruit to Japan, South Korea, Australia and India.

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  • Google Messages widely rolls out quick capture camera icon shortcut for faster photo sharing

    Google Messages widely rolls out quick capture camera icon shortcut for faster photo sharing

    After a recent revamp that removed the top search bar from the app, Google Messages was set to receive another UI tweak that would make it easier for users to send photos. As reported last month, this update would introduce a camera icon directly on the Messages home screen, streamlining the process of sending photos. This UI change is now rolling out widely.

    Previously, sending photos using Google Messages involved either accessing the conversation and attaching the photo from the “Add” button or capturing the photo separately in the camera app and then selecting it from the conversation. Now, the easy-to-access camera icon lets you start the process of sending a photo from the beginning if you intend to capture and send a quick photo instead of forwarding one from the camera roll.

    As you can see in the screenshots above, the camera icon is placed adjacent to the search icon on the top right of the app. Tapping on it, opens the camera app UI and viewfinder, allowing you to capture a quick photo. Once the photo has been taken, Messages then prompts you to select a recipient and attach the photo in a new message to the chosen recipient — while still giving you the control to add additional text and send at your leisure.

    This new feature joins other experimental additions that Google Messages has been exploring, such as an animated emoji, an updated voice recorder, and Google Account login capabilities for the web version. Meanwhile, as new features continue to be rolled out, old ones seem to have suddenly gone missing from the app without explanation, most likely due to a bug.

    The camera shortcut was previously in a limited rollout phase, with only a small group of Google Message users accessing it. That said, while the old method was relatively straightforward, this new shortcut strives to make the process even more effortless —  facilitating seamless photo sharing.

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  • Australian wine sales up despite lowest production in 15 years

    Australian wine sales up despite lowest production in 15 years

    Australian wine sales rose by 11 percent despite the lowest wine production in 15 years, according to the Wine Production, Sales and Inventory Report 2023 by Wine Australia.

    In the fiscal year 2022-23, 964 million liters of wine were produced, while sales remained steady at 1.07 billion liters, with a slight increase in domestic sales offsetting the decline in exports.

    Peter Bailey, manager of marketing insights at Wine Australia, said this is the first time in five years that the total sales volume remained steady year-on-year.

    “Sales of Australian wine have been decreasing in our domestic market and export markets over the past five years due to declining wine consumption combined with increased cost-of-living pressures and the effects of the significant duties on Australian wine to China,” he explained.

    The national wine inventory decreased by 4 percent to an estimated 2.2 billion litres in June last year due to sales exceeding production. However, inventory levels remain high, particularly for red wine.

    “This is a move in the right direction for the sector as it responds to the challenge of rebalancing supply and demand,” adds Bailey. “However, it is only a small reduction after the lowest vintage in 20 years, and stocks of red wine remain at historically high levels.”

    The report noted that the stock-to-sales ratio for red wine was still 45 percent above the 10-year average despite decreasing by 7 percent due to the decrease in inventory.

    While supply and demand for white varieties appeared to be more balanced, Bailey pointed out that sales of white wine in 2022-23 were considerably lower than the 10-year average production.

    “Rebalancing supply and demand remains a real challenge for the sector,” he concluded.

    “Our situation reflects the global environment, as world wine production has exceeded yearly consumption for at least the past ten years. This prolonged oversupply, equivalent to more than twice Australia’s production yearly, has put increasing pressure on all wine-producing countries.”

  • Google Messages loses Reminder and Google Photos integration features

    Google Messages loses Reminder and Google Photos integration features

    Google Messages, the default messaging app for many Android users, has recently lost two key features: message reminders and Google Photos integration. These removals have been met with confusion and frustration from users, who are hoping that the features are simply bugs and not intentional changes.

    Some users — both on stable and beta versions of the app — have reported that the alarm clock icon, used to set reminders for messages, is no longer visible in the toolbar when selecting a message. While the “Remind 1 hr” shortcut in incoming notifications still works, the full reminder functionality seems to be missing. This is a strange occurrence considering the feature was introduced back in 2019 and has since then become a popular feature among users.

    Additionally, the Google Photos integration that allows users to upload videos to the cloud and send them as links, is also missing. This feature was particularly useful for sharing high-quality videos without the limitations of SMS/MMS. However, this feature is now completely missing from the Messages app settings, when it would normally appear right above the aforementioned “Remind 1 hr” setting.

    The removal of these features has led many users to believe that they are intentional decisions by Google. However, it is more likely that these are bugs or glitches rather than planned changes, likely due to the recently planned upgrades currently in testing— such as noise cancellation and markdown text support.

    The selective removal of reminders and the complete disappearance of the Google Photos integration are not likely to be permanent or deliberate actions when considering how popular and helpful these features are. However, it is essential to note that this isn’t the first time a helpful feature has disappeared from the Messages app, such as has been the case with the “View messages by category” feature that filters personal from business messages.

    Google has not yet addressed the missing features in Google Messages. Hopefully, the company quickly fixes these issues and restores the functionality that users have come to rely on sooner rather than later.

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  • Ford recalls nearly 1,200 Everest, Explorer SUVs

    Ford recalls nearly 1,200 Everest, Explorer SUVs

    Ford has recalled 1,182 Everest and Explorer SUVs in Vietnam for engine control module software failure and a rearview camera display error.

    The Everest recall involves 185 vehicles, all produced at Ford’s factory in Thailand between June 28, 2022, and April 4 this year

    The American carmaker said the software failure causes the AdBlue warning light, which indicates the car could drive another 2,400 km before the liquid needs to be refilled, to flash 500 km earlier.

    A software update, which takes around 20 minutes, would fix the issue, it said. AdBlue is an additive injected into the exhaust system to reduce the car’s harmful NOx gas, helping the Everest meet Euro 5 emission standards.A tank lasts 10,000-15,000 km.

    The other recall involves 997 Explorer cars imported from the U.S. and manufactured between Oct. 19, 2018, and May 2, 2023.They have faulty camera control software which causes the central screen to display a blue mark or turn blue/black when in reverse or when the 360-degree mode is on.

    To fix the problem, a new rearview camera and wiring and a software update are needed, which should take about 60 minutes.Ford earlier recalled 1,870 Transit vans assembled between July 22, 2022, and March 17, 2023, for defective steering column components.

    Bolts and screws used to connect the steering shaft to the steering wheel could be loose, leading to a loose steering wheel or unusual noises in certain situations.

    In the long run, the bolts could fall out, causing the driver to lose control and even crash. The recall started in Aug. 21 and will last three years.

    The faulty vans are fixed in 20 minutes.

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  • DHL Express unveils newly expanded hub in Hong Kong

    DHL Express unveils newly expanded hub in Hong Kong

    DHL Express has completed the expansion of its Central Asia Hub or CAH in Hong Kong, which can now handle six times more shipment volume than when it was first established in 2004.

    The leading express operator has spent 562 million euros on the Hong Kong hub over the last 19 years with two phased developments in both 2008 and 2017. Given its location in Hong Kong, the hub is important gateway to Asia and the rest of the world and today it handles close to 20 percent of the company’s global shipment volume.

    DHL Express said it initiated the final expansion of the facility to complement the launch of Hong Kong International Airport’s three-runway system, which is set to be completed by 2024.

    With direct access to airside and landside, the newly expanded state-of-the-art facility, with double the total warehouse space at 49,500 square metres, is currently the only dedicated and purpose-built air express cargo facility at Hong Kong International Airport with an automated material handling system and peak handling capacity of 125,000 shipments per hour. It currently handles over 200 dedicated flights per week.

    DHL Express said that it expects to handle plus 50 percent of the current volume or up to 1.06 million tonnes per annum when operating at full capacity, six times the shipment volume of when the hub was first established in 2004.

    The company’s Asia Pacific air network operates with four hubs, one in Hong Kong, Shanghai, Singapore and Bangkok, linking to 900 express facilities in the region. The newly expanded hub in Hong Kong is expected to help strengthen the world city’s role as a trans-shipment hub for the Guangdong-Hong Kong-Macao Greater Bay Area, as well as support Hong Kong airport’s long-term goal to become the ‘e-commerce fulfillment centre of Asia’.

    To address the issue of sustainability, DHL has installed solar panels on the hub’s roof and deployed a battery storage system that can store excess solar power and release it as needed,saving 125,000 kWh of electricity annually and reducing 49 tonnes of carbon emissions. Other environmentally friendly features include electric forklifts, LED lights and highly efficient air-cooled chillers.

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  • McDonald’s to buy Carlyle’s stake in China business

    McDonald’s to buy Carlyle’s stake in China business

    Fast food chain McDonald’s Corporation has agreed to acquire Carlyle’s 28 percent stake in the consortium that operates the McDonald’s business in Mainland China, Hong Kong and Macau.

    Through its equity affiliate Citic Capital, the Citic Consortium will maintain a 52 percent controlling stake while McDonald’s will increase its ownership in the business to 48 percent.

    “Our strategic partnership with CITIC and Carlyle has been extremely successful in growing McDonald’s presence in the region since it began. China is now our second largest market; we’ve doubled our restaurants to more than 5500 since 2017,” said Chris Kempczinski, McDonald’s president and CEO.

    “We believe there is no better time to simplify our structure, given the tremendous opportunity to capture increased demand and further benefit from our fastest-growing market’s long-term potential.”

    The acquisition comes amid the consortium’s target to reach more than 10,000 McDonald’s stores in the region by FY28 and nearly six years after the burger chain agreed to sell 80 percent of its China and Hong Kong businesses to Citic and Carlyle for up to $2.1 billion.

    “As McDonald’s China’s controlling shareholder, we are thrilled by McDonald’s Corporation’s continued commitment to our long-term partnership and the China market,” said Yichen Zhang, Citic Capital CEO and McDonald’s China chairman.

    The deal is expected to close in the first quarter of next year.

  • iPhone users should expect to receive iOS 17.1.2 next week

    iPhone users should expect to receive iOS 17.1.2 next week

    Get ready iPhone users because iOS 17.1.2 is coming your way. MacRumors says that it has seen evidence of the update in its website’s analytics logs. Some of the higher profile bugs that still need to be exterminated include one that has prevented iPhone users running iOS 17.1 and later from wirelessly charging using the in-car charging pad of their General Motors vehicle. Apple had previously disseminated iOS 17.1.1 to eliminate a bug that broke NFC on iPhone 15 series handsets that charged using BMW’s in-vehicle charging system.

    Without NFC, the damaged iPhone units could not use Apple Pay and some received an error message saying that Apple Pay could not be set up on their devices even if the feature had already been used on these phones. Apple-certified techs were told to use Apple Service Toolkit 2 software in order to revive the NFC chip on damaged units, while some were told that their iPhones had to be opened up to repair or replace some of the hardware. While BMW warned iPhone 15 series users not to use the in-vehicle charger on new vehicles, Apple did push out iOS 17.1.1 to fix the issue at the beginning of this month.

    The iOS 17.1.2 update will probably be released next week since Apple traditionally stays away from releasing any new software builds during the week of Thanksgiving in the U.S. That’s because many of Apple’s employees are given the week off. Last year, a similar situation occurred with iOS 16.1.2 and the latter was finally released on November 30.

    As for iOS 17.2, Apple has been pushing out beta builds of the update with the final version expected in the middle of next month. The update will add support for spatial video recording for the iPhone 15 Pro models; these videos will be viewable with the Apple Vision Pro headset once it is launched. The iPhone’s new Journal feature will be available once iOS 17.2 is installed along with new Clock and Weather widgets, and an option that will allow iPhone 15 Pro series users to have the Translate app open when the Action button is long-pressed on the phone.

    But before iOS 17.2 arrives, iOS 17.1.2 will be released possibly to fix the GM wireless charging bug and any other annoying issues that iPhone users are currently dealing with.

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  • AirAsia X, Unilode renew partnership until 2027

    AirAsia X, Unilode renew partnership until 2027

    Unilode Aviation Solutions and medium-, long-haul carrier AirAsia X have extended their full-service ULD management partnership until 2027.

    The two have been working together since 2009 and the partnership has been renewed twice in the past 14 years. Unilode manages the ULD supply for AirAsia X’s current fleet of 14 A330 aircraft. The carrier will acquire three more widebody aircraft by the end of this year with plans to grow further over the next few years.

    AirAsia X currently flies to 19 destinations and the ULD repairs are carried out in Unilode’s global MRO network, mainly located in the Asia-Pacific region, to reduce turnaround times and increase asset availability.

    “Unilode has flexibly adapted to our changes in ULD types and met our ongoing ad-hoc demands to enable AAX to increase cargo revenues amongst other key deliverables,” commented Captain Suresh Bangah, chief operating officer of AirAsia X.

    Unilode, who claims aa strong presence and customer base in the Asia-Pacific region, said it will continue to strengthen its position in the region with new customers and MRO expansion in the coming months.

  • Vietnam Airlines joins the AAPA

    Vietnam Airlines joins the AAPA

    Vietnam Airlines is the latest member to join the Association of Asia Pacific Airlines (AAPA), as announced by a press release on 14 November, with immediate effect.

    As part of the AAPA, Vietnam Airlines will participate in the Association’s meetings and joint activities, where members can stay updated and exchange information about the trends in the aviation industry. Airline members also receive in-depth insights, forecasts, and advice from the group’s regular monthly distribution.

    On 9-10 November 2023, the AAPA organised its 67th Assembly of Presidents in Singapore, which gathered airline leaders to discuss relevant issues in air transport and aviation, with a core focus on sustainability. The conclusion of the event, which was hosted by airline member Singapore Airlines, saw the passing of a series of resolutions covering sustainability, aviation safety and regulatory impact.

    Airline leaders have agreed to a ‘collective’ target of 5 percent SAF utilisation by 2030, and the trade association is calling on governments, fuel producers, airports, and other industry organisations to come together globally, to accelerate the transition to renewable energy and push the ambitious goal to carbon neutrality by 2050.

    The AAPA’s membership now stands at 15 airlines, which include Air Astana, Air India, ANA, Bangkok Airways, Cathay Pacific, China Airlines, Eva Air, Garuda Indonesia, Japan Airlines, Malaysia Airlines, Philippine Airlines, Royal Brunei Airlines, Singapore Airlines, Thai Airways and Vietnam Airlines.

  • Alibaba records “solid quarter” with revenue growing across segments

    Alibaba records “solid quarter” with revenue growing across segments

    Alibaba Group saw its revenue increase 9 percent year over year to US$30.81 billion for the quarter ended September 30.

    The company’s operating income soared 34 percent to $4.603 billion, with adjusted EBITA up 18 percent to $5.872 billion.

    Taobao and Tmall Group’s revenue was up 4 percent to $13.385 billion, as content and price-competitive strategy drove organic growth of users and order volume increased.

    Alibaba International Digital Commerce Group (AIDC), which operates Lazada, AliExpress, Trendyol, Daraz, Miravia and Alibaba.com, posted a 53 percent increase in revenue to $3.360 billion. AIDC recorded order growth of 28 percent thanks to a solid performance from all major retail platforms.

    Lazada recorded double-digit order growth, with losses per order narrowing both quarter over quarter and year over year.

    Other segments, namely Local Services Group, Cainiao Smart Logistics Network, Cloud Intelligence Group, and Digital Media and Entertainment Group, also saw revenue growths of between 2 and 25 percent.

    For the quarter, the company logged a net income of $3.659 billion, compared to net loss of $3.1 billion in the same quarter of 2022.

    Eddie Wu, CEO of Alibaba Group, said the group delivered a “solid quarter” due to its strategic reorganization.

    “Through a more flexible organizational governance mechanism, we aim to capture brand new opportunities from the ongoing AI technological transformation and create more value for our customers.”

  • Fila records a 35 per cent decrease in revenue

    Fila records a 35 per cent decrease in revenue

    Fila’s parent company Fila Holdings reported overall earnings of US$766.97 million for the third quarter, for which the company credits its global five-year “Winning Together” strategy established last year.

    The group said its operating profit was $71.6 million, boosted by strong sales at subsidiary Acushnet.

    Acushnet’s quarterly revenue increased by 3.3 percent year-on-year to $602.84 million due to strong demand for Titleist golf balls, as well as strong sales of its newly launched Titleist golf clubs and a higher average selling price (ASP).

    Meanwhile, Fila reported $163.44 million in quarterly revenue, a 35.1 percent reduction year-on-year.

    Fila Holdings is paying out a special dividend for the second year in a row, despite the Fila brand’s strategic transition obstacles. The company’s long-term commitment to increasing shareholder value is an important component of its Winning Together strategy.

    “In the face of a challenging business environment, we are striving to improve shareholder value alog with profitability in our main business,” said Fila Holdings CFO Ho Yeon (Aaron) Lee. n

    “We recorded solid consolidated quarterly earnings based on the growth of Acushnet, while we remain committed to our long-term goals with the Fila brand.”

    Fila is enhancing its position as a representative tennis brand, the company said, by participating as an official sponsor in UTS Seoul. This new concept tennis event will be staged in Asia for the first time at the end of this month.