Retail News CRM

Author: Mei Ling Tan

  • Under Armour raises forecasts amid supply chain snafus

    Under Armour raises forecasts amid supply chain snafus

    Under Armour on Tuesday raised its full-year forecasts, alleviating investor concerns regarding holiday inventory shortages flagged by nearly all its peers and sending its shares up 16 percent.

    Factories in Vietnam, where Under Armour sources about one-third of its products from, have begun reopening after months-long shutdowns that have caused severe distress to many apparel brands.

    Bigger rival Nike Inc has cut its fiscal 2022 sales estimates, expecting delays during the holiday season, while Puma SE advised people to shop early for Christmas.

    “Nearly all factories that Under Armour does business with, including those in Vietnam are open,” finance chief David Bergman said, noting port congestion and container availability at some Asian ports have improved.

    Under Armour still had to cancel some spring/summer 2022 orders to ease pressure on the factories that will take until the year-end to ramp-up to full capacity, it said.

    It also warned of a hit to its revenue in the first half of 2022 before the challenges, including congestion at U.S. ports, start to dissipate.

    However, analysts have said Under Armour, which has deployed pricier air freight to bring in goods, is navigating supply-chain challenges well.

    They also believe the athletic wear boom that is helping Under Armour, Nike and Adidas AG could last at least through next year.

    Under Armour has also been spending more on marketing, pulling out of discounter stores and sharpening its focus on its own stores to elevate its brand image.

    “UA remains one of the few that successfully raised its pricing power, rather than simply enjoyed higher prices on lower industry promotions,” brokerage BMO Capital Markets said.

    The athletic wear maker said it expected 2021 adjusted per-share earnings to reach 74 cents, above Refinitiv IBES estimates of 55 cents, after it posted better-than-expected third-quarter results.

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  • StanChart Profits Surge on Lower Credit Impairments

    StanChart Profits Surge on Lower Credit Impairments

    Significantly lower credit impairments coupled with positive business momentum led to a surge in Standard Chartered’s pre-tax profits for the third quarter.

    Standard Chartered posted $1.075 billion in pre-tax profits for the third quarter, according to its latest results, marking a 44 percent year-on-year increase.

    Not unlike its regional peers throughout the year, the reduction of credit impairments – 70 percent to $107 million compared to $353 million in the same period last year – was a significant contributor to the improved bottom line.

    In addition to an improved balance sheet, the broader business experienced positive momentum with net interest income up 7 percent to $1.735 billion and other income also up 7 percent to $2.03 billion.

    We delivered a return to top-line growth in the third quarter and achieved further progress against our strategic priorities, with a strong performance in our Financial Markets and Trade businesses and ongoing positive momentum in Wealth Management, said Standard Chartered chief executive Bill Winters.

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  • Nike manufacturers in Vietnam resume operations

    Nike manufacturers in Vietnam resume operations

    Nearly 200 Vietnamese contract manufacturers for Nike have resumed production after a period of suspension due to Covid-19, a company executive told Vietnamese Prime Minister Pham Minh Chinh.

    Nike is committed to further investing and expanding in Vietnam, the company’s chief sustainability officer, Noel Kinder, told the PM Tuesday at a meeting on the sidelines of the 2021 United Nations Climate Change Conference in the U.K.

    The fourth wave of Covid, which began at the end of April, forced factories, especially in the south, to restrict production and impose stringent curbs to contain its spread.

    On October 1, HCMC allowed most commercial and business activities to resume as rapidly increasing vaccination rates helped bring the outbreak under control.

    Vietnam’s purchasing managers’ index (PMI) surpassed the 50-point threshold in October after four months of decline, indicating expansion in manufacturing.

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  • HSBC Singapore Rolls Out Dart Platform for Corporates

    HSBC Singapore Rolls Out Dart Platform for Corporates

    The bank’s new online platform for corporate customers simplifies receivables collection and improves transparency and monitoring capabilities.

    HSBC Singapore is launching another digital solution for corporate customers – Dart, or the Digital Accounts Receivables Tool, which connects businesses to their customers by enabling the exchange of invoice and payment information, the bank said in a statement on Tuesday.

    According to the bank, receivables reconciliation remains a key challenge for treasury functions that receive and process large volumes of payments on a daily basis, particularly when identifying payers and matching with invoices.

    Supply chain resilience has become synonymous with digitization, and the receivables reconciliation process is a prime candidate for transformation, Winnie Yap, HSBC Singapore head of global liquidity and cash management, said.

    Digital Capabilities

    HSBC has rolled out a number of digitally-driven solutions for its corporate customers in recent months, including a multi-currency digital wallet for corporate customers, Omni Collect – a one-stop digital solution for all payment collections needs.

    The bank said it will progressively widen the capabilities available on Dart, as it optimizes its digital services to support customers.

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  • UOB Posts Quarterly Profit Growth

    UOB Posts Quarterly Profit Growth

    The bank rode on loan growth and fee income, as well as lower credit allowance, to post modest growth amid slower-than-expected economic recovery across the region.

    UOB’s net profit after tax for the third quarter of 2021 was 4 percent higher quarter-on-quarter to reach S$1.05 billion ($780 million), according to financial results published on Wednesday.

    During the quarter, cross-border revenue remained stable while loan-related, wealth and fund management, as well as credit card fees, saw strong growth, UOB said. Its credit outlook remains stable, with its CET1 ratio remaining at 13.5 percent.

    Compared to last year, the quarter’s profit was 57 percent higher and year-to-date, the bank’s performance grew 37 percent to S$3.06 billion, amid improved business sentiment and rising income.

    In a statement on Wednesday, the bank highlighted its connectivity, digital and sustainability capabilities, as well as its initiatives in areas such as decentralized finance and digital assets, as well as its unified digital platform TMRW, as areas that would help it build on its growth momentum.

    Amid near-term uncertainties, the gradual reopening of borders bodes well for business flows and we remain positive of strong activities along the Greater China-Asean trade corridors. Our strong fundamentals enable us to continue investing to deepen our capabilities in connectivity, digital innovation and sustainability – areas that are set to drive Asia’s growth for the decades to come,» Wee Ee Cheong, deputy chairman and CEO, said.

  • OCBC Profits Climb Higher on Lower Allowances

    OCBC Profits Climb Higher on Lower Allowances

    OCBC’s posted a robust profit increase in the third quarter, which was fueled by a significant reduction in allowances.

    OCBC registered S$1.22 billion ($904 million) in net profit for the third quarter, according to its latest results, marking a 19 percent year-on-year increase.

    A significant reduction of allowances by 54 percent to S$163 million due to an improved credit outlook was a major contributor to profit growth.

    Total income was flat at 1 percent growth to S$2.56 billion while operating expenses and associates grew 8 percent and 33 percent, respectively. As a result, pre-allowance operating profit was flat, decreasing 1 percent to S$1.576 billion.

    Overall wealth management income – including insurance, premier and private banking, asset management and stockbroking – was down 7.4 percent to S$897 million.

    OCBC’s private wealth arm, Bank of Singapore, saw assets under management increase 6 percent to S$167 billion ($123 billion) driven by inflows of net new money and positive market valuations.

    Our third-quarter results were resilient, despite the challenging conditions associated with the Delta virus variant,» said OCBC chief executive Helen Wong. We remain positive on the long-term outlook but are watchful of the near-term headwinds from the pandemic.

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  • AirAsia X shares sink as much as 21% amid going concern doubt

    AirAsia X shares sink as much as 21% amid going concern doubt

    AirAsia X’s shares dived by the most in more than a year after the long-haul budget airline was officially categorized as a financially distressed firm, which gives the company a year to recast its finances or risk losing its Malaysian listing.

    The stock tumbled as much as 21.1 percent to 7.5 sen on Monday (Nov 1), set for the steepest drop since August last year. The shares traded at eight sen at 10:40am amid volume that was six times the average for this time of day.

    On Friday, AirAsia X’s auditor Ernst & Young issued a disclaimer of opinion on the airline’s audited financial results for the 18-month period ended June this year, citing threats that cast “significant doubt” on the firm continuing as a going concern, the airline said in a filing. AirAsia X said it has a year to recast its finances, failing which it will be delisted from Bursa Malaysia.

    “AirAsia X continues to face severe liquidity constraints and all hopes are on successful debt restructuring and new equity funding from existing and new investors to provide sufficient capital to restart operations when international borders reopen,” Public Investment Bank wrote in a note on Monday. The brokerage maintained its stock-target price of one sen.

    “The company is taking the necessary steps to address its Practice Note 17 status,” AirAsia X said on Friday, referring to its categorization as a financially distressed company.

    AirAsia X is one of the many airlines in the Asia-Pacific region to have been hit by travel restrictions imposed to curb the coronavirus pandemic. It has grounded most of its aircraft fleet since March last year and has deferred payment to creditors.

    AirAsia X recently offered to pay creditors only 0.5 percent of the more than US$8 billion (S$10.8 billion) total debt they are owed and terminate all existing contracts as it tries to restructure after it triggered events of default for various agreements.

    AirAsia is set to meet its creditors to vote on its restructuring proposal on Nov 12 and it would require at least 75 percent of each class of scheme creditors in the meeting to vote favorably for its proposed debt restructuring exercise to carry.

  • Red China – up-and-coming wineries gain recognition

    Red China – up-and-coming wineries gain recognition

    Chinese winemaker Legacy Peak, which started producing grapes more or less by accident in 1997, symbolizes the rapid growth of an industry that now wins accolades in global markets, but it once came close to giving up.

    “We wanted to pull out all the vines and call it quits,” said Liu Hai, its second-generation owner, recalling early struggles to cultivate a barren plot received from a local government in payment for construction work.

    His family knew nothing about farming when they got the land in the arid north-central region of Ningxia on condition that it be devoted only to grapes, but they started making wine a decade ago, after wineries that used their fruit won several awards.

    Since then, Liu says the winery has won awards and found export markets in France, Germany, and Southeast Asia, despite the annual output of fewer than 100,000 bottles.

    From the rolling hills of coastal Shandong province to the desert heights of Ningxia and the deep valleys of southwestern Yunnan, Chinese vineyards and wineries are winning recognition.

    “China is an up-and-coming fine wine producer, and its best wines can compete on the world stage,” said wine educator Edward Ragg, who is a reviewer for the influential Robert Parker Wine Advocate.

    The products of wineries such as Chateau Nine Peaks in Shandong, Silver Heights and Grace Vineyard in Ningxia, and Ao Yun in Yunnan, are rated as “outstanding wine of exceptional complexity and character” by Parker’s newsletter.

    Some, such as Nine Peaks and Legacy Peak, are finding export markets in Asia and Europe.

    China’s wine market is the sixth-largest in the world, with event organizer Vinexpo saying it consumed $14.8 billion worth of wine in 2018, and forecasting sales of $18 billion by 2023.

    But domestic wineries must battle an image problem, as consumers at home can be suspicious of their quality and often put off by high prices.

    “It was always easier to sell to foreigners because they are more open-minded, but it has been a tough sell with Chinese customers,” said Liu.

    Other problems are high production costs and erratic weather that can hamper efficiency and quality, while a slowing economy and the COVID-19 pandemic have hit China’s wine consumption since 2018.

    Modern winemaking in China dates fromg the 1980s, when French firms, such as the precursor of Remy Cointreau, began investing after the door was opened to foreign businesses by then-leader Deng Xiaoping.

    While the French influence persisted in a market dominated by reds and a glut of Bordeaux imitations, quality began improving in the early 2000s.

    That was a time when vineyards focused on growing healthier grapes just as incomes grew sharply, with more people traveling abroad and drinking more wine.

    Now home-grown wineries can allay the suspicions of some consumers, such as Yang Lu, who owns a restaurant in the Chinese capital.

    “I was amazed by how the aroma was full of nice fruits and flowers,” said Yang, describing her experience last year of first sampling the Mountain Wave label produced in Ningxia.

    “It had a nice color and was smooth with a long finish.”

    Until then, Yang, who is in her 30s, educated overseas, and widely traveled, had almost always ignored domestic wines, uncorking only imports such as New Zealand wines made from pinot noir.

    Some winemakers, such as Ian Dai, 33, who is behind the Ningxia brand Xiaopu, priced in the range from 168 yuan ($26) to 300 yuan ($47), are turning away from industrial methods in the search for a Chinese signature variety.

    Dai said he was looking to more natural methods, such as fermenting without commercial yeast or leaving acidity and tannin levels unadjusted to “let grapes express themselves”.

    An independent with no vineyards or winemaking equipment of his own, Dai is in his fifth year of winemaking after dropping out of college in Sydney and spending a decade in wine sales.

    Dai hopes to find grape varieties for a wine that represents China.

    “As a winemaker I should have the ego to make the best wine in this climate with grapes grown here,” said Dai, who expected it would take two decades to produce such a wine in China.

    Chinese wineries are also experimenting with alternative grape varieties, such as marselan, aglianico and saperavi. Marselan, a cross between cabernet sauvignon and grenache embraced years ago by Legacy Peak and others, offers high yields and a fruitiness much needed by Chinese reds, experts say.

    “Marselan could one day become China’s signature wine grape, like malbec is to Argentina,” added Ragg, a holder of the Master of Wine qualification

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  • Foot Locker promises strong growth for Atmos as takeover completed

    Foot Locker promises strong growth for Atmos as takeover completed

    Foot Locker, the New York-based specialty athletic retailer, today announced that, through certain subsidiaries, it has completed the acquisition of atmos, a digitally-led, premium, global retailer headquartered in Japan, for $360 million, subject to certain customary adjustments.

    Richard Johnson, Chairman and Chief Executive Officer of Foot Locker, said, “We are delighted to officially welcome atmos’s iconic founder, Hidefumi Hommyo, and the entire atmos team to the Foot Locker family. We deeply value atmos’s unique brand, innovative, experiential stores, premium offerings, collaborations, and understanding of sneakerhead culture. atmos expands our global reach in the rapidly growing Asia-Pacific market, establishes a critical entry point in Japan, and allows us to benefit from an immediate scale.

    We are excited about the many opportunities we will collectively be able to capture as a result of this partnership as we continue creating significant long-term value for our shareholders, consumers, vendor partners, and employees.”

    Mr. Hidefumi, CEO, Chief Creative Officer for atmos, said, “Today atmos enters a new era, well-positioned to bring our dynamic and exciting sneakers to more people around the world. atmos was founded with a love of sneakers and a passion for innovation, and with Foot Locker as our partner, we have the opportunity to drive global growth while maintaining what makes us unique.

    We have worked with Foot Locker for years on product collaborations and partnerships, and we are excited about what is ahead as we pursue our shared passion for sneaker culture, streetwear, creativity and self-expression.”

  • StanChart Profits Surge on Lower Credit Impairments

    StanChart Profits Surge on Lower Credit Impairments

    Significantly lower credit impairments coupled with positive business momentum led to a surge in Standard Chartered’s pre-tax profits for the third quarter.

    Standard Chartered posted $1.075 billion in pre-tax profits for the third quarter, according to its latest results, marking a 44 percent year-on-year increase.

    Not unlike its regional peers throughout the year, the reduction of credit impairments – 70 percent to $107 million compared to $353 million in the same period last year – was a significant contributor to the improved bottom line.

    In addition to an improved balance sheet, the broader business experienced positive momentum with net interest income up 7 percent to $1.735 billion and other income also up 7 percent to $2.03 billion.

    We delivered a return to top-line growth in the third quarter and achieved further progress against our strategic priorities, with a strong performance in our Financial Markets and Trade businesses and ongoing positive momentum in Wealth Management, said Standard Chartered chief executive Bill Winters.

  • Rewards Platform ShopBack Acquires BNPL Startup Hoolah

    Rewards Platform ShopBack Acquires BNPL Startup Hoolah

    The acquisition is part of the Singapore-based platform’s efforts to drive $3.5 billion in sales this year.

    Temasek-backed cashback platform ShopBack has acquired buy now pay later (BNPL) brand Hoolah for an undisclosed sum in cash and stock, according to an announcement on Tuesday.

    The acquisition extends ShopBack’s product offering to include transactions with payment options like BNPL and more. Meanwhile, Hoolah will be able to accelerate its growth through ShopBack, which allows the BNPL player to extend its offerings to over 8,000 merchants and 30 million shoppers across several APAC markets, the announcement said.

    ShopBack, which was valued at $539.4 million in its latest funding round, said the acquisition will transform the shopping experience for shoppers, and provide a one-stop solution for demand generation and user engagement for merchants across the APAC region.

    ShopBack is also expanding its team across the APAC region. According to its LinkedIn profile, it is looking for ahead of marketing in Singapore, who will be responsible for demand growth and user development funnels on both existing and new business initiatives within ShopBack Singapore.

    Hoolah’s however, has experienced a rocky past few months, with layoffs reported at the company, as well as the departure of co-founder and CEO Stuart Thornton, who has since been replaced by fellow co-founder Henry Chan.

    The BNPL space is expanding rapidly and companies are vying for market share, with a number of partnerships established in recent months to expand their reach. Recent deals include Standard Chartered’s partnership with BNPL platform Atome to deliver a wide range of financial services to consumers and merchants across key markets in Asia, as well as its partnership with Kredivo – one of Indonesia’s largest and fastest-growing digital credit platforms.

    U.S. fintech giant also acquired Japan BNPL payments platform Paidy in September for ¥300 billion (about $2.7 billion), while Square, run by Twitter CEO Jack Dorsey bought Australian Afterpay for $29 billion in August.

  • Samsung wants to double its foldable phone shipments in 2022

    Samsung wants to double its foldable phone shipments in 2022

    It looks like Korean manufacturer Samsung is very serious and confident about the future of its foldable smartphone lineup. According to analyst firm UBI Research the giant manufacturer wants to double its foldable OLED panel production next year.

    Currently, Samsung is said to produce 8.1 million panels in 2021. This should translate into about 8 million foldable phones shipped. The yield rate of assembly lines is reported to be about 80 to 90%, which could result in a lower number.

    Doubling foldable OLED displays’ production to 18 million should translate into about 14 to 16 million foldable phones produced next year. A subsidiary of Samsung Display called Dowoo Insys is the company processing the Ultra-Thin Glass cover needed for the Galaxy Z Flip and Z Fold devices which is supplied by SCHOTT Germany. It is reported that Samsung is going to set up more production lines in order to double the manufacturing capacity. UBI Research also says foldable panels shipments could reach 49 million units in 2025.

    The increased production of foldable panels will also allow Samsung Display to sell them to other phone manufacturers. Chinese manufacturers like Xiaomi and Vivo are said to be looking to get the Samsung panels for their own foldable devices. Rumors about Google and Apple looking into adding a foldable phone to their lineups are also circulating, with Samsung being the obvious choice for a display supplier.

    This year the Korean phone manufacturer was very aggressive as far as its foldable strategy is concerned. Instead of releasing a successor to the 2020 Galaxy Note, it opted for a big release of new foldable phones.

    In August Samsung revealed the Galaxy Z Fold 3 and Galaxy Z Flip 3. Both phones offered significant improvements in their foldable display technology and more attractive pricing. The Galaxy Z Fold 3 is praised for its versatility and S Pen support, while the Galaxy Z Flip 3 is liked for its looks and pocketable size.

    It is unclear whether Samsung will expand its foldable phone lineup in 2022. An even more affordable folding phone for the masses might be on the horizon. The company is already the leader in this category of devices and such a move could only expand its lead even further. It is also a leader in manufacturing with 91% of all foldable OLEDs in 2021 being made by Samsung Display.

  • China Telecom’s license revoked in the US

    China Telecom’s license revoked in the US

    The US Federal Communications Commission (FCC) has voted to revoke the authorization for China Telecom’s subsidiary in the US.

    Citing national security concerns, officials ordered China Telecom Americas to discontinue its services in the US within 60 days. The subsidiary has been operating in the US for nearly two decades.

    In a statement released, the FCC said, “China Telecom Americas, a U.S. subsidiary of a Chinese state-owned enterprise, is subject to exploitation, influence, and control by the Chinese government and is highly likely to be forced to comply with Chinese government requests without sufficient legal procedures subject to independent judicial oversight.”

    China Telecom has expressed disappointment over the decision and intends to “pursue available options” in hopes of continuing serving its customers.

    During the first nine months of this year, China Telecom added 69 million 5G subscribers in China, bringing it total mobile base in China is 369 million subscribers.

  • Huawei committed to being preferred partner for digital transformation in APAC

    Huawei committed to being preferred partner for digital transformation in APAC

    Huawei’s first flagship event for Asia-Pacific (APAC) region ICT industry – Huawei Connect 2021 – Asia Pacific launched on Friday, themed “Dive into Digital in Asia-Pacific”, explores how digital technology can better integrate with business scenarios and industry know-how to address critical business challenges, and how stakeholders can work together more effectively to foster an open industry ecosystem and drive shared success.

    This event has featured three keynotes and opening remarks with around 15 CXOs from government and commercial sectors across APAC like Sunseap Group, KBank, University Malaya, Union Bank, Toyota Astra, Bank Central Asia (BCA), UCARS, and government guests to share their vision and experience on digital transformation in APAC.

    In Jeffery Liu, the President of Huawei Asia-Pacific keynote, he spoke that digital transformation is more real and urgent than ever. Huawei will leverage innovative ICT technologies to help customers accelerate digital transformation. In Asia Pacific, Huawei will focus on the 4 areas: Cloud services, Low-carbon development, Innovative digital infrastructure, building partner ecosystem, and training digital talents. Huawei is committed to be the preferred partner for digital transformation in the region”

    Jeffery said, “In Asia Pacific, HUAWEI CLOUD operates in 7 Availability Zones and has local service teams in over 10 countries. Huawei combines digital and electronic technologies to develop innovative digital power services by using energy as efficiently as possible, and minimizing the carbon footprint of ICT infrastructure by leveraging clean power generation, electric transportation, and smart energy storage, supporting our customers to save energy and protect the environment. Every year Huawei invests over 10% of revenue into R&D, delivers value to the industry and society through innovation, and helps our customers go digital with innovative and reliable products and solutions. In the next five years, we will continue to train over 100 thousand ICT professionals in Asia-Pacific to strengthen the talent root for digital transformation.”

    In the sharing session of Digital Leadership, Professor Alex Siow from NUS shared on how emerging digital technologies have changed various industries, and how these technologies will evolve along with the effects of the pandemic. “Digital leadership is the strategic use of a company’s digital assets to achieve business goals and digital leaders shall explore how technology can be used to help their business become much more responsive to the needs of their customers and the ever-changing business requirements. Digital leaders must lead the way in digital transformation and help the customers more digital and more agile for the adoption of rapid acceleration of technological changes,” said Professor Alex Siow.

    The event is honored to invite key companies like PSA Corporation Ltd, Sunway Berhad Malaysia, Integrated Health Information System (IHIS) Singapore, Singapore Press Holdings (SPH) and Prof. Dr. De Crème from NUS to participate in the open panel discussion, shared their thoughts on thriving as a digital enterprise and to help the industry leaders approach business transformation from a different perspective.

    During the panel discussion, Ho Vee Leung, Head of Infocomm Technology & Data from PSA shared the benefits of technology, like how 5G, which is capable of large bandwidth and low latency wireless transmission, enables real-time control of mobile equipment in the open port environment, and how Intelligent IoT technology has enabled energy consumption within the terminals to be better managed and optimized, balancing peak and trough demand and reducing the risk of power-related disruptions.

    Alan Goh, Assistant Chief Executive of IHIS also shared how IHIS utilized technology to create value in the healthcare industry. Alan shared the example of the vaccination program in Singapore and how they integrated technology to enable real-time updates of the vaccination process.

    Kevin Khoo, CIO from Sunway Berhad Malaysia shared his rich experience in managing a large conglomerate in the digital transformation journey and the importance of close partnership with vendor.

    Glen Francis, CTO of SPH mentioned that leadership and stakeholder alignment is important especially when building new technology tool or platforms in the organization and communication is an important part in overcoming the challenges of the digital transformation journey.

    At the discussion, Nicholas Ma, the President Huawei Asia Pacific Enterprise BG pointed out that Digital transformations is not a plug-and play strategy revealing immediate results. Two areas are essentially important for digital transformation, one is the organization and the other is technology. To tackle the skills issue and improve organizational agility, Huawei will continue to invest in digital talents cultivation and work closely with partners to provide more scenario-based solutions in their digital transformation journey.

    “As new technologies like Cloud, and AI continue to be mature, the application of digital technologies is expanding beyond the office and into production systems of the industries, which will change or improve productivity. Together with our partners, we take the time to truly make the best use of our leading technologies and solution, to understand our customers’ businesses, particularly the challenges they are facing, and then develop tailored solutions to support them. To do this, we have built 13 Open Labs around the world to support joint innovation, in Asia Pacific, we have OpenLabs in Singapore and Thailand.” further shared by Nicholas Ma.

    Brandon Wu, CTO of Huawei Asia Pacific Enterprise BG mentioned that Huawei plans to provide enterprises with a consistent experience while using cloud-native applications that are not constrained by geographical, cross-cloud, or traffic limitations. Huawei is also leveraging ICT innovations for energy saving and sustainability, by introducing green sites, improving data center network efficiency, and binging green connectivity by extending more optical connections to home and campus networks, to further reduce power consumption.

    Brandon Wu also elaborated latest innovations that Huawei will bring to the market：

    Huawei OptiXsense Solution and a product model EF3000 which is able to measure the vibration of the laser, to sense the environment changes of the object under monitoring, to significantly reduce the false alarms.

    Digital Offices, powered by intelligent “Office Twins” – Wi-Fi 6e AP and HUAWEI IdeaHub. They will supercharge your meeting room experiences and office productivity with ubiquitous gigabit and seamless collaboration.

    The industry’s first deterministic IP network solution, which supports multi-hop networking of tens of thousands of nodes, so it can deliver deterministic IP network performance, making lights-out digital factories a reality.

    Hybrid Optical transmission network (OTN), by combining both the technology advantages between PON and OTN together, Huawei introduced H-OTN for the first time to the market, the packet loss can now be minimized and the reliability can reach five 9s for mission-critical services.

    OceanStor Pacific, the industry’s first distributed storage for High-Performance Data Analytics (HPDA). This solution breaks the silos of data processing between big data, AI, high-performance computing, and streamlines multiple storage capabilities into one single device, with adaptive data flow for large and small size IOs.

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  • Cartier unveils Oceania flagship in Sydney CBD

    Cartier unveils Oceania flagship in Sydney CBD

    French luxury Maison, Cartier, has announced a new Oceania flagship boutique in the heart of Sydney’s CBD. The flagship will be located at the 388 George Street Pavilion Building, on the corner of King Street and George Street, occupying approximately 783m2 on the Ground Floor and Level 1.

    388 George Street sits on one of Sydney’s busiest intersections on what is fast becoming the George Street Boulevard. Opening in Spring 2022, the new Cartier Oceania flagship is set to become a space of luxury reimagined.

    The contemporary landmark, with a modern architectural façade, features a custom-designed curved sandstone and translucent exterior. The Maison’s arrival at this location continues the momentum of the newly pedestrianized George Street becoming a major luxury precinct in the Sydney CBD.

    “After enjoying a longstanding presence in Australia for more than 45 years, the announcement of our new Oceania flagship marks a thrilling new chapter in the relationship between Cartier and Australians. The new Oceania flagship will merge Parisian elegance whilst paying tribute to Australia’s rich culture and natural beauty, featuring the savoir-faire and style Cartier is renowned for around the world. We look forward to welcoming our clients and offering them a unique experience full of discovery,” said Alban du Mesnil, Managing Director of Cartier Oceania.

    To celebrate the impending opening, Cartier has engaged Melbourne 3D artist Paul Milinski to animate the façade with an expression of his singular creativity. Milinski will create a unique art installation, The Australian Dreamscapes, that will evolve quarterly until the boutique opens, enlivening the streets of Sydney with a journey through Australian landscapes.

    Danny Poljak, Executive Vice President & Co-Head of Brookfield Properties, said: “388 George Street continues to set new benchmarks for the Sydney CBD and we are delighted it will now provide an anchor point for the city’s new luxury retail precinct. Cartier is one of the world’s most prestigious luxury brands and realises our vision for the retail space of this development.”

    Nicole Quagliata, Fund Manager, OIPP, said: “Cartier is a fantastic addition for 388 George Street, and we are thrilled to welcome this iconic, luxury brand to their new flagship store. The addition of Cartier to 388 George Street continues to elevate the ground plane and pavilion, bringing outstanding tenant amenity, and solidifying the building as a premium retail destination for the Sydney CBD.

    The ground plane and pavilion building was designed by architects FJMT and provides five levels of commercial and retail space, a rooftop bar and flagship retail stores including Bally and Locali. It was designed to complement the rich history of the site, incorporating a custom-designed curved sandstone and glass façade inspired by the topography of the surrounding CBD landscape.

    The property is owned and was developed by Brookfield Properties and Oxford Investa Property Partners (OIPP) as part of a $200 million transformation of the site that completed in November last year.

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