Retail News CRM

Author: Mei Ling Tan

  • China Tourism seeks $2.16 billion in Hong Kong’s biggest listing this year

    China Tourism seeks $2.16 billion in Hong Kong’s biggest listing this year

    China Tourism Group Duty Free Corp is aiming to raise up to $2.16 billion through a new listing in Hong Kong, according to a term sheet reviewed by Reuters, in what will be the largest share sale in the city so far this year.

    Shanghai-listed China Tourism is planning to sell 102.76 million shares priced between HK$143.50 and HK$165.50 ($18.30 and $21.10) each, the term sheet said.

    The offer has already been fully subscribed, according to two people with direct knowledge of the matter. The sources spoke on condition of anonymity because they were not authorised to discuss the matter with media.

    China Tourism, which has built the largest duty-free retail network in China, did not respond to a request for comment on the deal’s launch or subscription rate.

    The launch of the deal comes as Hainan island, in China’s south where China Tourism has several major shopping outlets, remains under tight restrictions due to an outbreak of COVID-19.

    The price range represents a 29.3% to 38.7% discount to the stock’s 201.19 yuan closing price on Thursday in Shanghai. The Shanghai shares fell 3.1% on Friday after the Hong Kong deal was launched.

    Hong Kong share sales of Chinese-listed companies are typically offered at a discount to entice investors to buy the stock but the flagged discount of China Tourism is higher than normal. The rate was chosen to help ensure the stock trades positively in the secondary market, one of the sources with direct knowledge told Reuters.

    China Tourism’s Shanghai-listed shares have recovered most of their losses since lockdowns across Hainan began to be ordered last week. Its shares are down 11% year-to-date.

    China Tourism plans to set the final price next Thursday, the term sheet said, and the Hong Kong stock will start trading Aug. 25.

    Almost 40% of the stock on offer in the deal has been sold to cornerstone shareholders who will invest about $795 million, according to the term sheet.

    Sanya, a holiday city on the southern end of Hainan island at the centre of the COVID outbreak, reported 1,690 symptomatic and 1,504 asymptomatic cases from Aug. 1 through Aug. 10.

    The duty-free shop operator’s deal, if executed, would surpass Tianqi Lithium’s $1.71 billion deal, which opened in late June, to become the biggest share sale in Hong Kong in 2022.

    Tianqi’s Hong Kong shares were priced at a 50% discount to its Shenzhen stock and are trading only marginally higher since it debuted in mid-July.

    “After the tepid performance by Tianqi Lithium, the only way they could get away with the China Tourism deal was by offering it at a decent discount,” said Aequitas Research director Sumeet Singh, who publishes on Smartkarma.

    “If it does go well other deals should follow as the pipeline for Hong Kong deals is now fairly full and needs to get moving soon.”

    There has been $4.9 billion worth of initial public offerings and secondary share sales in the city this year compared to $34.7 billion at the same time last year, according to Dealogic data.

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  • Popeyes appoints partner for China rollout

    Popeyes appoints partner for China rollout

    Popeyes Louisiana Kitchen is making a move on KFC’s turf. The Miami-based chicken chain on Wednesday announced an agreement with Cartesian Capital Group to develop restaurants in China in the coming years. In the process, it will take Popeyes into a country dominated by its longtime rival, KFC.

    Popeyes could move quickly if Cartesian’s recent track record is any indication. The firm started developing Tim Hortons locations in 2019. The Canadian coffee and doughnut brand already has 450 locations in the country. Tim Hortons, like Popeyes, is owned by the Toronto-based Restaurant Brands International.

    “We are excited to build on our long-standing and successful relationship with RBI, spanning over a decade and most recently including our rapid development of more than 450 Tim Hortons cafes across China,” Cartesian Managing Partner Peter Yu said in a statement.

    China is a gold mine for U.S. brands eager for international expansion. It is the world’s second-largest economy and is growing rapidly. Numerous restaurant chains are pushing aggressive expansion. KFC, McDonald’s and Starbucks, among many others, are aggressively adding units and companies like Papa John’s and Domino’s are pushing growth there.

    But the country has had its challenges of late, driven by its “Zero COVID” strategy in which large cities are shut down for weeks or months at a time, sending sales plummeting. Same-store sales at Yum China, for instance, decreased 16% in the second quarter.

    As for Popeyes, it also goes into a market dominated by KFC. The chain, which helped open China decades ago, is as popular there as McDonald’s is in the U.S. It operates 8,500 locations in the country and is on pace to add another 800 this year alone.

    Still, it’s an important market for Popeyes as it works to build its international business. RBI’s business plan is predicated in part on aggressive international development, much as it did with Burger King starting in 2010.

    Popeyes operates only about 3,800 global locations, with about 1,000 of them outside the U.S. But that international unit count is up about 50% over the past five years. And since last year, Popeyes has announced deals to enter South Korea, France, Romania, the U.K. and India, with expansion plans for Mexico and Saudi Arabia.

  • Inflation Drives LatAm Nations to be Top Markets for Binance

    Inflation Drives LatAm Nations to be Top Markets for Binance

    Rising inflation and a strengthening dollar have driven Latin American countries to become market leaders for crypto giant Binance.

    Now that we are seeing inflation ramping up worldwide, we are seeing that more and more people are seeking cryptocurrency, like bitcoin, as a way to protect themselves from inflation, said Maximiliano Hinz, Binance’s head in Latin America.

    According to Hinz, Latin American countries have become the top markets for Binance, such as Brazil, Mexico and Argentina, where annual inflation is 90 percent.

    Overall, Latin America and the Caribbean posted an inflation rate of nearly 9.8 percent in 2021, according to data compiled by Statista.

    While a number of Latin American nations have yet to pass meaningful crypto legislation, unlike El Salvador which made headlines for adopting bitcoin as legal tender, Hinz does not necessarily view this as an issue.

    Regulation is a framework, but it’s not always negative that something isn’t regulated, he said. If something isn’t banned, then it’s legal.

  • Highlands Coffee posts first loss in 8 years

    Highlands Coffee posts first loss in 8 years

    Highlands Coffee chain lost VND19 billion ($812,069) last year, its first loss since 2014, VnExpress has learned.

    Its sales plunged by nearly 20 percent to VND1.7 trillion, which still made it the largest coffee chain in Vietnam, its earnings report, recently acquired by VnExpress, shows.

    It is not listed on the stock market, and typically such companies do not make public their financial reports.

    Highlands faced many issues with landlords who accused it of delaying rent payments of over VND1 billion for up to six months.

    It had admitted at the time, when social distancing restrictions were still in place, that it was facing financial difficulties.

    Highlands Coffee was established in 1999 to sell packaged coffee. It started opening cafes in 2002, and now has 522 of them, according to its website.

    It was acquired by the Philippines’ Jollibee Foods in 2012.

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  • Coca-Cola to launch US-first paperboard packaging for multipack cans

    Coca-Cola to launch US-first paperboard packaging for multipack cans

    Liberty, the local Coca-Cola bottler, has partnered with fiber-based consumer packaging supplier Graphic Packing International to produce multipacks in the paperboard packaging format called KeelClip, and use multipack carton application equipment in doing so. It will soon deliver this pack format to stores across the Philadelphia market.

    “Addressing plastic waste requires collective and collaborative thinking and action,” says Kurt Ritter, General Manager and Vice President of Sustainability, Coca-Cola North America. “Liberty’s ongoing commitment to sustainability is evident with the implementation of KeelClip, which is another demonstration of our system’s dedication to delivering our World Without Waste goals.”

    KeelClip equipment is a sustainable packaging system for cans that has already been successfully implemented and distributed through other local Coca-Cola bottlers in Europe. It is estimated by the company that the transition will remove 75,000 lbs of plastic packaging per year from the supply chain for approximately 3.1 million cases across Liberty’s service area, which includes Philadelphia, New Jersey, New York City, and parts of Connecticut and Delaware.

    “Liberty is thrilled to be the first bottler in the United States to implement this innovative packaging system,” Paul Mulligan, co-owner of Liberty Coca-Cola Beverages, says. “We know that the most valuable change to reduce plastic waste occurs when bottlers and packaging producers work together in partnership. We look forward to partnering with Graphic Packaging on sharing this sustainable packaging in our local communities for years to come.”

    Liberty is using the technology to improve sustainability across its entire distribution footprint. The installation of the KeelClip 1600 machinery means the sustainable fiber-based packaging is manufactured at one of Liberty’s production facilities located in New York and is being distributed across its entire footprint.

    Adds Bret Arnone, vice president, commercial operations & beverage packaging at Graphic Packaging. “This technology has seen incredible success wherever it has been used, winning 10 industry awards and becoming the gold standard for can multipacks in over 20 countries. Most importantly, it’s proven to help our commercial partners reduce their reliance on plastics for a more sustainable future.” The KeelClip packaging implementation is the latest effort Liberty is taking to advance its sustainability efforts. Last summer, Liberty became the first local Coca-Cola bottler to produce and distribute bottles made from 100% recycled material in the United States.

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  • Vietnam considers $58.7 billion high-speed railway

    Vietnam considers $58.7 billion high-speed railway

    Vietnam is considering building a high-speed railway that runs along the country’s length with a possible price tag of up to $58.7 billion, the government said on Sunday.

    The Southeast Asian country’s transport ministry will next month submit a proposal to build the 1,545 km (960 miles) railway to the Politburo, the powerful decision-making body of the ruling Communist Party of Vietnam, the government said in a news release.

    Vietnam, a regional manufacturing hub, is ramping up its investment in transport infrastructure to support its fast-growing economy.

    The first two sections with combined length of 665 km (413 miles) and total investment of $24.72 billion would be open to traffic by 2032, the government said, adding that the entire project would be completed by 2045-2050.

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  • With iPhone 14 coming soon, Apple changes the focus of its television advertising

    With iPhone 14 coming soon, Apple changes the focus of its television advertising

    Apple’s Services unit is the company’s second-largest business segment after iPhone. With nearly $20 billion in revenue during the fiscal third quarter, the unit is running at close to an $80 billion annual rate. One of the less-heralded but brilliant moves made during the Tim Cook era was to take advantage of the large number of active iPhones around the world and sell their users recurring monthly subscriptions that bring in revenue 12 times a year.
    Apple Services includes Apple Music, Apple News+, Apple TV+, Fitness+, iCloud, and Apple Arcade. Those services charge monthly subscription rates. Other Apple services that are part of the unit include the App Store, Apple Pay, Apple Care+, and more.
    With the unveiling of the new iPhone 14 line approximately four weeks away, Apple has apparently decided that now isn’t the time to advertise the iPhone 13 series with the world waiting for the 2022 handsets to be introduced. In other words, Apple wouldn’t be getting the same bang for the advertising buck with many potential buyers waiting for the new line to be announced.
    So today Apple released its latest television ad, a thirty-second spot for Apple One. In 2020, Apple created the Apple One bundle which has three separate tiers of service. These are the Individual Plan, the Family Plan, and the Premier Plan.
    Individual Plan-$14.95 per month (saves $6/month)
    • Apple Music
    • Apple TV+
    • Apple Arcade
    • 50GB of iCloud storage
    Family Plan-$19.95 per month (saves $8/month; can be shared with five other people)
    • Apple Music
    • Apple TV+
    • Apple Arcade
    • 200GB of iCloud storage
    Premier Plan-$29.95 per month (saves $25/month, can be shared with five other people)
    • Apple Music
    • Apple TV+
    • Apple Arcade
    • 2TB of iCloud storage
    • News+
    • Fitness+
    The new ad shows off the services inside the bundle. Apple Music is mentioned first and the music streamer includes surround sound. The 3D Spatial Audio feature allows you to hear music that sounds like it is coming from all around you. Next is Fitness+, which is only part of the most expensive Premier plan although it can be subscribed to a la carte ($7.99/month, $79.99/year). Fitness+ offers workout videos that cover 11 different styles. While you are working out, the screen will show your heart rate along with other metrics related to your workout.
    Like Apple Music, TV+ is available on all three tiers of Apple One. The new ad points out that with TV+ you can see the biggest stars just as the screen quickly shows Jennifer Aniston and  Reese Witherspoon (The Morning Show) and Tom Hanks (various films). News+ is also found only on the highest-priced Premier tier of Apple One and includes the best publications on Earth, according to Apple.
    Apple Arcade is also available on all three tiers of the Apple One bundle and features over 200 ad-free games. Also on all three tiers is cloud storage service iCloud. Apple says that with iCloud, you can store everything that you love. Note, however, that the amount of available storage depends on the plan you purchase. The individual plan comes with 50GB of cloud storage, rising to 200GB with the Family Plan. And with Premier, you get a whopping 2TB of cloud storage.

    If you’re already subscribed to some of Apple’s recurring subscription services, you might be able to save some money by signing up for Apple One instead. With the Premier tier, you can save as much as $25 per month by going with the bundle. You can start with a one-month trial of Apple One. From your iPhone, tap on Settings and then your name. Go to subscriptions and tap on the Apple One box. That will take you to the sign-in page and at the bottom of the screen you will see a blue button that says “Start Free Trial.”

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  • Mercedes-AMG Project One Enters Production

    Mercedes-AMG Project One Enters Production

    Mercedes-AMG had taken the wraps off the Project One F1-engined hypercar five years ago at the Frankfurt Motor Show and it’s been a long time coming since then. Destined to be the fastest road car ever by Mercedes, it was delayed due to development hurdles with making the turbocharged 1.6-liter V6 petrol engine meet emission standards and noise regulations. Well! It’s through all that and the car is on the assembly line now. Mercedes-AMG will only manufacture 275 units of the Project one.

    The cars are being put together by hand at AMG’s Coventry facility in UK while the hybrid powertrain with its four electric motors is made by the Mercedes AMG High Performance Powertrains division in Brixworth. The same division was also responsible for developing and producing the heart of its F1 car. To start production of the One, AMG teamed up with Multimatic to set up a bespoke production facility. The company claims that each and every vehicle has to go through 16 assembly and testing stations and Mercedes-AMG describes the process as resembling the production of luxury watches. Over 50 people are involved in the production of a One hypercar. Once the car is assembled, it undergoes a roll-out at an adjacent proving ground where a factory test driver gives it the proverbial green light.

    The engine is tuned to churn out 1034 bhp and is covered in protective wrap and transported in a closed truck to Affalterbach in Germany at AMG’s headquarters. This is where the owners finally get their hands on the hypercar and also receive a technical vehicle briefing by AMG One experts. The Mercedes-AMG Project One can can do 200 km/h in less than 6 seconds and has a top speed of 350 km/h. It has also run purely on electric power with a range of 25 km and its internal combustion engine will need to be rebuilt after 50,000 km something that is quite common for an F1 engine

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  • Bamboo Airways appoints new chairman to drive international expansion

    Bamboo Airways appoints new chairman to drive international expansion

    Bamboo Airways on Saturday appointed Nguyen Ngoc Trong who has worked for the airline since the early days of establishment as its new chairman.

    Trong, 65, took the new position after his predecessor Dang Tat Thang resigned as chairman and general director.

    Trong served as the first deputy general director of Bamboo Airways from 2018.

    In April this year, he was appointed vice chairman after a series of senior leaders were arrested for allegedly manipulating the stock market.

    He has more than 40 years of working experience in the aviation industry and has held many senior management positions at major firms like Vietnam Airlines, Vietnam Airlines Engineering Company, Vietnam Air Petrol Company Limited and Noi Bai Airport Services JSC.

    Bamboo Airways currently operates nearly 170 flights a day on 40 domestic and 12 international routes.

    The carrier plans to continue launching new international services to tourism markets in Asia, Europe and Australia.

    It also plans to increase its fleet to 35 by the end of this year and triple its fleet size to 100 aircraft by 2028.

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  • Jollibee Foods struggles to make profits in Vietnam with 4 brands

    Jollibee Foods struggles to make profits in Vietnam with 4 brands

    All four brands that Jollibee Foods Corp of the Philippines operates in Vietnam, including coffee chain Highlands Coffee, posted losses last year.

    The corporation, founded by Filipino billionaire Tony Tan Caktiong, established its first company in the country, Jollibee Vietnam, in 2005, as a fast food operator.

    Since then it has branched into other food and beverage brands: Pho 24, Highlands Coffee and Coffee Bean & Tea Leaf Vietnam. But Highlands Coffee is its only profitable brand (except for last year), while all three other chains have been making losses for years

    Jolibee Vietnam planned to have 300 outlets in the country by 2020, but it only has 150 as of now, lower than its competitors KFC and Lotteria.

    It posted a loss of VND43.9 billion (1.83 million) last year.

    Pho 24, which sells the traditional Vietnamese rice noodles soup, is also struggling to make profits nearly 20 years after it was established.

    At one point, it had targeted 1,000 outlets, but only has 22 now, mostly in Ho Chi Minh City. It also has outlets in South Korea, Indonesia and the Philippines.

    It posted a loss of VND89.4 billion last year.

    The Coffee Bean & Tea Leaf is in an even worse situation with just six outlets in HCMC after 14 years in Vietnam. Its prices are 1.5-2 times higher than that of Highlands Coffee and its outlets are mostly located in large malls.

    It has been reporting an annual loss of VND26-29 billion in the last four years.

    Highlands Coffee, meanwhile, has reported profits for seven of the last eight years.

    The chain topped the VND1 trillion revenue mark in 2017 and doubled it in two years to cross VND2 trillion.

    Except for last year when it posted a VND19 billion loss due to Covid-19, Highlands Coffee had posted annual profits of VND55-100 billion in the previous four years.

    The chain now has 525 outlets in Vietnam and the Philippines.

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  • How to choose a trading account on Forex?

    How to choose a trading account on Forex?

    Currently, the Forex market is a hot topic all over the world. In today’s difficult times, many people are looking for a market that will not be affected by the financial crisis. It is the Forex market that works in any crisis. Every day, there are transactions worth several trillion dollars. That is why it attracts many people and financial institutions.

    Private traders trade in the Forex market only through intermediaries, companies that have the status of market participant. Practically, to start working in the foreign exchange market, you need to open a trading account with a brokerage company. Terms of trade vary greatly depending on the type of account. For comfortable work, you need to be able to choose the right one from many accounts. Some beginners try to find the answer to the question: what is standard account in forex?

    Multiple accounts

    Most brokerage companies offer customers a choice of several types of accounts, which differ in minimum deposits, transaction amounts, pricing methods, trading platforms and other features. But, basically, accounts are distinguished by minimal deposits and trading volumes.

    What is a standard account?

    This account is one of the most common. In fact, this is the reason why it is known as a standard account. The minimum deposit between brokers ranges from $100 to $10,000. Standard accounts are suitable for a wide range of traders. In recent years, the technology of crushing the standard lot has spread. Forex companies give the opportunity to open positions with a minimum volume of 0.01. It became possible due to:

    • computerization of trade transactions;
    • increase the number of traders. 

    The broker can summarize the positions of clients and bring standard volumes to the market.

    Standard account holders are usually able to trade many currency pairs and difference contracts. In turn, standard accounts may differ in pricing method and transaction technology. The same company can offer several accounts with STP and ECN technologies, fixed and floating spreads. These technologies involve taking traders’ transactions to the interbank market. 

    An important characteristic of a standard account is segregation. It means that clients’ money is kept separately from the company’s funds, which ensures their safety.

    The Forex market is quite popular. Behind this popularity there are many factors. One of the main factors is the amount of profit that can be made. However, trade also involves some risks. If you do not manage properly, you may suffer significant losses. So you should carefully consider the choice of broker and trading account.

     

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  • Apple appoints first ever Vietnam country manager

    Apple appoints first ever Vietnam country manager

    Nguyen Thai Hai Van has been appointed the first Country Director of Apple Vietnam, a source has confirmed.

    While no official announcement has been made, Van’s LinkedIn profile says without disclosing details that she has been holding the post since May, 2022; and some of Apple’s authorized retailers told VnExpress that they have been working with Van in the new role.

    Van recently resigned as managing director of Grab Vietnam. Earlier, she was marketing vice president at Unilever Vietnam.

    Insiders consider the appointment a move to expand the U.S. tech giant’s operations in Vietnam. Previously, its operations in the country were overseen by a regional director.

    Apple CEO Tim Cook has said that Vietnam was one of four emerging markets contributed to the company’s success in the second quarter of 2022.

    “We set June quarter records in the Americas in Europe and in the rest of Asia Pacific region. We also saw June quarter revenue records in both developed and emerging markets with very strong double-digit growth in Brazil, Indonesia and Vietnam and a near doubling of revenue in India,” Cook said during the company’s earnings call late July.

    There is no official Apple Store in Vietnam yet, and its products are distributed in the country via a network of authorized retailers.

    Apple is also recruiting for various positions for its Vietnam operations.

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  • Auto sales rise 20% in July

    Auto sales rise 20% in July

    Auto sales resumed in July with 30,254 units sold, up 20% from June, showing signs of recovery.

    The increase came after June sales plunged to a three-month low as the government’s decree to cut registration fee by 50% ended in May.

    The multi-utility vehicle Mitsubishi Xpander was the best selling model in July at 2,711 units, followed by Hyundai Accent, 1,423, and Toyota Veloz, 1,395.

    In the first seven months, 232,094 units were sold, up 39% year-on-year.

    Truong Hai Auto Corporation (THACO) led with 83,201 units sold, up 46% year-on-year.

    It was followed by Toyota with 48,650 units and Mitsubishi, with 22,361 units.

    Honda and Ford made up the rest of the top five.

    Last year, auto sales dropped 3% from 2020 to 383,444 units.

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  • Singapore Strengthens Role as 5G Regional Innovation Hub

    Singapore Strengthens Role as 5G Regional Innovation Hub

    5G enables technologies such as AI, Digital Twin, and augmented and extended realities to seamlessly work together, a key need for businesses at the forefront of digital transformation, providing consumers with a better-quality experience. In advancing Singapore’s 5G ecosystem, the Infocomm Media Development Authority (IMDA) is working with the industry to unlock the real value of 5G by shaping new business use-cases and enabling enterprises to commercialize locally and globally.

    Lew Chuen Hong, Chief Executive, IMDA, said, “Singapore will continue to push the boundaries of innovation through frontier technologies such as 5G. We are excited to work with our industry partners to unlock the real impact of 5G. We look forward to seeing new and exciting ways 5G will benefit our businesses and consumers.”

    Three new 5G projects have been introduced to boost Singapore’s 5G ecosystem. Under IMDA’s 5G Innovation Programme, S$30 million has been set aside to accelerate the adoption and commercialization of 5G solutions.

    IMDA has announced the awarding of projects for Asia Pacific’s first 5G mobile edge computing for Mixed Reality and Holomedicine capabilities in health tech; the region’s first outdoor mass 5G-enabled cinematic quality AR experience; and Southeast Asia’s first maritime 5G augmented reality/virtual reality smart glasses solution.

    PSA continues to make waves, as the world’s first 5G mmWave port operations trial sees progress. Automated guided vehicles (AGVs) achieved a reduction in latency by 50% compared to the current 4G network. This will enable PSA to scale AGV operations at Tuas Mega Port beyond 2000 vehicles. Automated rubber tire gantry cranes (aRTG) have also seen significant stability in terms of throughput and low latency. 5G will enable PSA to completely automate its RTG operations and empower its staff for higher-value job roles and upskilling in new areas of work.

    IMDA’s partnership with Razer has also seen significant results. This first-ever mmWave trial for Razer was conducted at Ngee Ann City and Singtel’s Comcentre, and findings from this trial enabled a re-imagining of the mobile gaming experience with 5G-enabled gaming controllers.  Based on learnings from this trial, Razer has launched the Razer Kishi V2, a universal mobile gaming controller that promises a “console-class gameplay experience” for smartphones. It also launched the Razer Arctech, a heat-dissipating mobile phone cover that supports the heavy processing load required for a seamless gaming experience.

  • Gasoline prices hit six-month low

    Gasoline prices hit six-month low

    Vietnam gasoline prices on Thursday dropped 3.6-3.8% to the lowest since Feb. 11 as global rates kept falling.

    A liter of popular RON 95 gasoline now costs VND24,660 ($1.05), down VND940, while that of biofuel E5 RON 95 costs VND23,720, down VND900.

    Thursday’s was the fifth consecutive downward adjustment made to gasoline prices. Compared to this year’s peak on June 21, prices have fallen by 24.22-24.98%.

    Prices of diesel and kerosine also dropped 4.4-5.2%.

    On the global market, gasoline prices have decreased marginally in the last 10 days, according to data from the Ministry of Industry and Trade and the Ministry of Finance.

    On the global market WTI crude futures slipped toward $91 per barrel Thursday as concerns over supply disruptions eased and markets looked for evidence of improving fuel demand.

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