Retail News CRM

Author: Mei Ling Tan

  • Grab in Hiring Spree to Support Financial Services

    Grab in Hiring Spree to Support Financial Services

    The super app is looking to create around 350 new jobs in Singapore this year to support its growth plans.

    The new hires will support Grab’s plans to help micro SMEs digitalize, deliver digital financial services across Southeast Asia, and develop the Grab-Singtel digibank, according to an announcement on its website.

    The hiring drive was announced at a signing of a memorandum of intent with the Infocomm Media Development Authority and Digital Industry Singapore to support the development of Singapore’s tech ecosystem, through the development of its tech talent and R&D capabilities here.

    The vacancies are from fields including artificial intelligence, cybersecurity, data science, software engineering, product management and design. There will also be employment opportunities in areas such as finance, operations, legal, public affairs and business development, Grab said.

    We are building products that positively impact millions across Southeast Asia, and we want to continue deepening our R&D capabilities and push the boundaries of innovation, right here at our strategic base, Tan Hooi-Ling, Grab co-founder, said in the statement.

    Grab previously said it would be pushing into retail wealth by focusing on accessible, convenient, and transparent investment products and solutions while broadening its wealth management offerings that feed into its goal of strengthening its open fintech ecosystem.

    The company has grown its suite of financial products in the past year, rolling out e-money, lending and insurance distribution on its platform, and moved into wealth management with the acquisition of Singapore-based robo-advisor Bento, which was relaunched as GrabInvest.

    It also led a $100 million Series B fundraising round for LinkAja, an e-wallet in Indonesia, where the ride hailer has been vying with competitor Gojek for the top spot in digital payments.

    Lees ook:

  • Travel App Sets Sights on Financial Services

    Travel App Sets Sights on Financial Services

    Indonesian online travel unicorn Traveloka is targeting Thailand and Vietnam for launching financial services ahead of a possible IPO.

    Undaunted by Covid-19 related disruptions, Southeast Asia’s biggest online travel startup is eyeing moves into the financial services space as the company diversifies its offerings in a region ripe for disruption in the space.

    The plan is to invest in fintech in a big way to allow more consumers to travel in the region,» Caesar Indra, Traveloka president said in an interview published Thursday.

    The travel app, which previously branched out into lifestyle services such as food delivery, launched offerings in insurance and wealth management, and is currently developing buy-now-pay-later services in Vietnam and Thailand, where it recently launched a joint venture for fintech development with one of the country’s biggest banks.

    The company, which counts 40 million monthly users, has seen a strong rebound in business, driven by domestic travel, Indra said.

    Its business has surpassed pre-Covid levels in Vietnam, is nearly back to normal levels in Thailand, and is at half of pre-Covid levels in Indonesia, he said.

    Traveloka is reportedly in discussions with special-purpose acquisition companies, or SPACs, for a U.S. listing.

    Reuters quoted a source saying that Bridgetown Holdings, backed by Asian tycoon Richard Li, Provident Acquisition and Cova Acquisition are also contenders for the startup, which has a potential valuation of up to $5 billion.

    Founded in 2012, Traveloka has raised more than $750 million to date from investors including Expedia, Singapore’s sovereign wealth fund GIC, East Ventures, as well as JD.com.

    Lees ook:

    Lees ook:

  • StarHub and Software AG partner for new 5G IoT platform service

    StarHub and Software AG partner for new 5G IoT platform service

    As Internet of Things (IoT) plays an increasingly important role in driving digital economies and business success, Singapore’s StarHub and Germany-based Software AG have teamed up to offer an end-to-end 5G-ready IoT service to help organizations in Singapore accelerate IoT implementations on a massive scale.

    Through this partnership, StarHub is proud to offer 5G IoT platform service, a new one-stop solution that provides IoT connectivity including StarHub’s 5G, device management, professional services to integrate existing or new systems, and managed services to run the entire IoT environment for any organization.

    As a comprehensive platform, the 5G IoT platform service intelligently connects, manages, and monitors millions of IoT devices deployed for different applications, creates customizable analytics, and provides APIs to integrate with existing and new systems. This will help organizations to accelerate their IoT implementations. It is offered to companies as a service on a subscription model, allowing full flexibility, instant scalability, and financial prudence.

    Charlie Chan, Chief of Enterprise Business Group at StarHub, said: “Amid digital disruption and rapid changes in the economy, StarHub’s call remains the same – Our customers are transforming to remain globally competitive, and we want to be our customers’ enabling partner of choice when it comes to both core connectivity and innovative managed solutions. We are pleased to collaborate with Software AG to provide an advanced, 5G-ready IoT solution that helps our customers across multiple industries including property, retail, and transport, speed up or scale IoT implementations to boost productivity and innovation as well as realize cost-saving.”

    Bernd Gross, CTO of Software AG added: “Data is so fundamentally important for businesses to succeed in the future that they must master how to collect and analyze it if they are to be competitive. 5G brings more speed, lower latency, and support for a massive amount of endpoints, which means that data can flow between the edge and the core of any organization. Once you know what’s happening in every part of your business, you can understand how to make it better – and that is the opportunity we will bring to customers alongside StarHub.”

    StarHub’s 5G IoT platform service allows organizations to aggregate all of its existing IoT applications and connected devices for a real-time, clear overview on a single aggregator platform, without a need for platform migration. New IoT applications and connected devices can also be integrated easily with this aggregator platform. With that, enterprise customers can acquire and analyze massive volumes of data from its existing independent IoT systems to gain new, accurate, in-depth understanding of how well their assets operate, in a consolidated manner.

    In the case of a public transport operator, StarHub’s 5G IoT platform service can provide real-time vehicle tracking, automated inspection of the vehicle condition and predict potential issues of the vehicles to take precautionary measures, improve fleet operational efficiency and reduce downtime. With additional data such as weather, traffic conditions, the operations director can view and analyze these insights from the same dashboard and act accordingly to optimize the fleet.

    For a facility management company, it can use StarHub’s 5G IoT platform service to develop smart building maintenance strategies to serve building owners better, differentiate their services from competition or improves operational efficiencies. This is because the service can bring together separate IoT systems that manage different areas of the facility – electricity consumption, rubbish bin usage, washroom cleanliness, footfall, and more, presenting a complete picture of all IoT data. With the right information and context about what is going on in the building, the facility manager can pinpoint issues and trace faults quickly or carry out preventive maintenance responsibly.

  • Thai Airways announces staff cuts in desperate bid to avoid bankruptcy

    Thai Airways announces staff cuts in desperate bid to avoid bankruptcy

    Thai Airways says it has cut around 240 executive positions as part of its bankruptcy restructuring process.

    The airline said: “The number of executive positions has been reduced from 740 to about 500”, also confirming that the number of supervisory levels would go from eight to five to increase efficiency.

    Thai Airways, like most of its rivals around the world, has slashed capacity as travel restrictions and falling demand make many commercial routes unviable during the coronavirus pandemic.

    The airline will submit its restructuring plan to the Central Bankruptcy Court on 2 March and the plan is expected to be voted on by creditors in May.

    If a majority of creditors vote against it then the airline will go ahead with bankruptcy procedures.

    Acting president Chansin Treenuchagron said: “A successful restructuring will require cooperation from all parties, including creditors and employees.”

    Thai Airways employs around 21,000 people and is Thailand’s national carrier, an important part of its vital tourism industry.

    Lees ook:

    Lees ook:

  • Giordano opens largest retail store in Indonesia’s

    Giordano opens largest retail store in Indonesia’s

    Apparel retailer Giordano has unveiled a large-scale store in the newly opened Bumi Raya City Mall in Pontianak, Indonesia.

    Located on the mall’s first floor, the Giordano store spans 2300sqft and offers a complete range of men’s, women’s and children products.

    “This is our second store in Pontianak, which is one of the most culturally diverse cities in Indonesia and the entrance to Singkawang, the renowned ‘city of a thousand temples,” said Patrick Yeo, president director of Giordano Indonesia.

    Opened last month, Bumi Raya City Mall is home to more than 190 brands, including a host of international retailers and flagship stores. Bumi Raya City Mall is also the first family lifestyle mall to open in Pontianak.

    Founded in 1981, Giordano operates more than 2100 stores and counters in Greater China, South Korea, Southeast Asia, Australia, India and the Middle East.

    Lees ook:

    Lees ook:

    Lees ook:

  • Ikea starts building shopping mall in India

    Ikea starts building shopping mall in India

    Ikea’s arm Ingka Centers is to launch India’s first Ikea mixed-use destination in the outskirts of Delhi, Noida.

    The plan was announced after the retailer secured a 47,833sqm plot of land in Noida, Uttar Pradesh. The project will cost about US$760 million and take seven years to complete. The Ikea mega mall will feature two multi-storied buildings of more than 20 floors with separate blocks for retail, office, and hospitality.

    The project will provide more job opportunities, support infrastructure development, and the growth of the organized retail and home furnishings sector in the region.

    “Delhi NCR is one of our most important markets in India and we will reach the many people with our beautiful, affordable, well designed, and sustainable home furnishing products,” said Peter Betzel, CEO at Ikea India.

    “This next step in our expansion is in line with Ikea’s ambition to [reach] 100 million people in India in the coming years.”

    Entering India in 2018 with its first outlet in Hyderabad, Ikea opened its second store in the country last December in Navi Mumbai.

    Lees ook:

    Lees ook:

  • Toyota recalls Hilux trucks for brake problem

    Toyota recalls Hilux trucks for brake problem

    Toyota will recall 1,935 imported Hilux trucks due to a safety issue related to their brake system.

    The batch was produced in Thailand between June and December 2018 and imported by Toyota Vietnam.

    The company said the problem has occurred due to a degrading of the resin piston within the brake booster due to improper molding.

    “If this were to occur, repeated operation of the brake pedal may cause the piston to break, potentially causing loss of braking assist and therefore increasing the vehicle stopping distance,” it said in a statement.

    Toyota will coordinate with its dealers to recall, inspect and replace the brake booster free of charge. The replacement will take between half an hour and four and a half hours.

    According to Toyota Vietnam, the recall will begin on March 5 and last three years.

    In the case of Hilux not imported by the company, it will obtain approval from its parent in Japan before carrying out the replacement.

    Lees ook:

  • Consumers complain most about transport sector

    Consumers complain most about transport sector

    The transport service sector received the highest number of customer complaints in 2020, with travel restrictions related to the Covid-19 pandemic triggering more disputes than usual.

    A report released Monday by the Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade says that complaints in the transport sector accounted for 49.1 percent of the total, followed by banking, finance and insurance (9.3 percent), and telephone and telecommunications (8.8 percent).

    Tourism and restaurant ranked fourth with 6 percent of customer complaints, says the report, also noting that sectors hit hardest by the Covid-19 crisis, like aviation and tourism, have elicited more complaints from customers than in previous years.

    Last year, when Vietnam experienced two Covid-19 outbreaks in March and July, the government had imposed stringent travel restrictions to try and curb the spread of the virus.

    The VCA said that it had answered 9,965 out of 11,211 calls its center received last year, up 63 percent from the previous year.

    Around 56.4 percent of all complaints related to businesses’ violation of commitments. Others related to the quantity and quality of goods as also delivery time. There were complaints about contracts with service providers (7.5 percent) and information provided by sellers (5.2 percent), the report says.

    Last year, Ho Chi Minh City topped the list of localities receiving the highest number of customer complaints, followed by Hanoi.

    Lees ook:

    Lees ook:

  • 2021 Harley-Davidson Pan America 1250 Launched Globally

    2021 Harley-Davidson Pan America 1250 Launched Globally

    Three years after we first got a glimpse, Harley-Davidson has launched its first-ever adventure motorcycle globally, the Pan America 1250. Harley will sell two variants of the Pan America, the Pan America 1250 and the Pan America 1250 Special. While the stance of the Pan America is typically that of an ADV, the face is what has divided opinions. While some may like the Max Max-esque, post-apocalyptic, scourge of the earth sort of a design, others may not be too fond of it! Good thing is, you are not going to mistake it for some other motorcycle when you see it on the road. The front end gets a wide fairing, with Harley’s ‘Daymaker LED headlights’ and a tall windscreen. View it in profile and you see the sculpted fuel tank along with Harley’s signature V-Twin engine, but more on that later. You get an exposed sub-frame at the rear along with split seats and an upswept exhaust.

    The quirky Pan America gets a 1,252 cc Revolution Max V-Twin which is first of its kind from the company. The engine is liquid-cooled and it makes 150 bhp at 9,000 rpm along with 127 Nm of peak torque at 6,750 rpm. The engine is paired to a 6-speed gearbox. Harley claims that the Pan America 1250 has a fuel efficiency of 48 miles per gallon or 20.4 kmpl, which is quite impressive indeed.

    Talking about the chassis, the Pan America is built on a low alloy steel trellis frame along with a one-piece cast Aluminium swingarm. The motorcycle is suspended on 47 mm BFF forks up front and a linkage-mounted piggyback mono-shock at the rear, both adjustable for compression, rebound and preload. Both suspension units get a travel of 191 mm. Up front, the motorcycle gets 320 mm twin discs gripped by a radially mounted Brembo 4-piston calliper. The rear wheel gets a 280 mm single disc with a 2-piston calliper. The motorcycle gets 19-inch alloy up front and a 17-inch alloy at the rear and both are wrapped in Michelin Scorcher adventure radial tyres.

    In terms of features, the motorcycle gets a 6.8-inch TFT touchscreen display along with Bluetooth phone connectivity via the H-D app. The Pan America also gets an inertial measurement unit (IMU) which supplies data to ABS, traction control, drag torque slip control and hill hold control. There are also five riding modes to choose from – road, sport, rain, off-road and off-road plus. Each riding mode has different settings for other electronics.

    Now there are a few differences between the Standard model and the Special. The Pan America 1250 Special gets semi-active suspension along with vehicle load control, tyre pressure monitoring system, standard centre stand, adjustable rear brake pedal, Aluminium skid-plate, heated hand grips, steering damper, adaptive ride height and tubeless spoked wheels. The colour options are different on both motorcycle variants as well.

    Prices for the H-D Pan America 1250 start at 14,000 pound sterling while the Pan America 1250 Special gets a starting price of 15,500 pound sterling. Converted to Indian rupee, the starting prices come to ₹ 14.27 lakh and ₹ 15.80 lakh respectively.

  • Google unveils a fresh batch of important Android enhancements and features

    Google unveils a fresh batch of important Android enhancements and features

    Android 12 might not be ready for primetime just yet, but while adventurous users try out Google’s next big batch of mobile improvements and cool new features and the vast majority of the world’s smartphone owners continue to wait for a stable Android 11 update, the search giant is today taking the wraps off half a dozen smaller enhancements aimed at making handsets “more secure and convenient for everyone.”

    Small doesn’t equal trivial in this particular case, mind you, and perhaps more importantly, it’s definitely worth highlighting that these six fairly meaningful new features, just like the six unveiled back in December 2020, are not exclusively headed for owners of Android 11-running devices.

    Incredibly enough, you don’t even need Android 10 to enjoy Password Checkup functionality, be able to schedule your texts in the popular Messages app, “get more done hands-free” with Google Assistant, darken your Google Maps routes, spice up your Android Auto drives, or further improve the accessibility of the already extremely convenient TalkBack service.

    Arguably the most exciting new tool integrated into global devices powered by Android 9 and above starting today, at least for users perennially concerned about their online and mobile security, is Password Checkup. This has been a thing on the Chrome browser for more than a year now, expanding to support pretty much any app on your phone requiring login credentials.

    Google’s hugely popular Autofill feature will automatically check to see if said credentials are compromised, immediately alerting you when detecting a potentially stolen password and prompting you to choose a new one. Of course, you’re free to ignore Big G’s security warnings, but in the long run, it’s definitely wise not to do that. You never know when a compromised password publicly available for bad actors to use at their discretion will in fact be used against you in one of many and equally scary ways.

    While significantly less… dramatic, the second big new feature unveiled today may well appeal to an even larger number of users worldwide, aiming to make it easier to communicate with your friends and family from far away.

    Whether you live in a different timezone from someone you deeply care about or fear you might forget to wish your better half a happy birthday before everyone else, you can now “schedule send” messages on phones with Android 7 and up as long as you download or update the aptly titled Google Messages app to its latest version.

    253 million is a pretty lofty number, so it shouldn’t come as a big surprise that Google is paying very close attention to the extensive global community of blind and low-vision Android users, revamping the TalkBack experience with more intuitive gestures, a unified menu, a new reading control menu, and well, more, with some of these important accessibility changes showcased in the short video embedded below.

    Meanwhile, there’s not a lot to say about the imminent worldwide expansion of the Google Maps dark theme other than “finally!” This has been a very long time coming, and as you can imagine, its activation requires little to no effort… if you know where to look. Namely, in the “Theme” submenu of your navigation app’s “Settings” menu, where you can choose to use Google Maps “Always in Dark Theme”, as well as easily switch back to the light side.

    No Android update would be complete without some sort of a Google Assistant upgrade, and indeed, the AI-powered service is improving its convenience by displaying cards that can be read at a glance and perform more tasks than ever before sans requiring you to unlock or touch your Android phone.

    Last but not necessarily least, Android Auto is gaining the ability to keep you entertained during your long drives with a number of fun little voice-activated games, as well as new custom wallpapers to brighten your day and personalize your car display. These features will be available “in the coming days” on phones running Android 6.0 and up when connected to a compatible vehicle.

    Lees ook:

    Lees ook:

  • Purchasing a Property in Singapore: 5 Things to Take into Account

    Purchasing a Property in Singapore: 5 Things to Take into Account

    Homeownership may remain an elusive dream for many people in other countries, but not so for the citizens of  Singapore. Thanks to the government’s successful public housing scheme, the Lion City is one of the countries with the highest property ownership rate in the world.

    Although there are plenty of opportunities for Singaporeans like you to own a property, it does not mean that the process is always easy. After all, buying a home is a huge decision and a long-term financial commitment that you cannot enter blindly. If you are thinking of purchasing a property in Singapore, make sure to consider the things below.

     Eligibility to Buy a Property

    Before you get excited at the thought of having a property in one of the most desirable cities in Asia, you should first ensure that you are qualified to purchase the home you want. For example, if you intend to buy a private residential property, you need to be a Singaporean citizen who is twenty-one years of age or older. If you are eyeing a Housing and Development Board (HDB) flat, the eligibility requirements will vary depending on the type of sales scheme you will choose.

    An HDB Build-To-Order (BTO) flat, for instance, requires single buyers to be Singapore citizens who are at least 35 years old. Income ceilings are also set for various types of BTO flats, among other restrictions. To check whether you met the eligibility conditions to buy an HDB flat, you may use the “Check Your Eligibility” e-service provided by the HDB.

    Your Current Finances

    Another crucial factor to consider when planning to buy a home is your finances. Make sure that you take a look at your current resources to know whether or not you can afford to purchase a property at this time. Keep in mind that even if you are eligible for a loan and have CPF savings, there are plenty of expenses that you have to cover on your own. To get an idea if you can afford all the costs involved in purchasing a property, try to assess the following:

    • Your personal funds. Examine if you have enough savings to cover upfront costs, such as the agent’s commission; the cost of renovation, furniture, and other miscellaneous expenses; as well as monthly repayments if you suddenly lose your job.
    • Your CPF Ordinary Account (OA) balance. You should also find out how much funds you have in your CPF OA account. Your OA savings and your future monthly CPF contributions are crucial factors in estimating the amount you can spend on buying a property.
    • Income. You need a stable income source if you are buying a property since you need to pay for your monthly mortgage payments and to cover other ongoing expenses, like fire insurance and management service fees. Try using an HDB BTO calculator and similar financial tools to find out the monthly repayments you have to make. This way you’ll be able to gauge whether or not your earnings can cover the cost of acquiring your dream home.

    Your CPF Savings

    Unless you have tons of cash, you will most likely rely on your CPF Savings to purchase a property. Although you can do so under the CPF Housing Scheme, you should remember that your CPF money is primarily for your retirement needs. As such, there is a limit to the amount of CPF savings you can use to fund your home.

    Your CPF withdrawal limit depends on numerous factors like the type of property and home loan you are getting. It is essential to figure out how much CPF savings you can use so that you can better plan on how to finance your new home. Try using the CPF Housing Usage Calculator to get an estimate.

    How Much You Can Borrow

    Apart from finding out how much CPF savings you can use, it is also essential to get an idea of how much money you can borrow to finance your home purchase. Note that lenders determine the loan amount based on the following:

    • Mortgage servicing ratio (MSR). The MSR shows the percentage of your gross monthly earnings allotted for your loan payments. You can compute your MSR by dividing your monthly mortgage payment by your gross monthly income. Note that your MSR should not go beyond 30 per cent if you are buying an HDB flat or executive condominium.
    • Total debt servicing ratio (TDSR). Lenders will also calculate your TDSR (your total monthly debt payments divided by your gross monthly income) to ensure that you still have enough earnings for your living expenses and debt repayments. Know that you cannot take a home loan if you exceed the TDSR limit of 60 per cent. 
    • Loan-to-value limit (LTV). Your LTV limit is the maximum amount you can borrow to finance your home. This limit varies depending on the number of outstanding housing loans you have and other factors.

    Type of Home Loan

    Make it a point to also think about the home loan options available to you when planning to purchase a property. For instance, if you are eyeing a private residential property, you can only borrow from a bank or similar financing institutions. For HDB flats, you have the option to apply for an HDB housing loan if you are eligible, in addition to a bank loan.

    When looking at home loan options, take your time to compare home loans provided by different lenders to find the loan package most beneficial to your needs. Weigh the pros and cons of various home loans, taking into account the following factors:

    • Loan amount
    • Loan term
    • Interest rates
    • Lock-in period and fees, especially penalty fees for early repayment
    • Special features and discounts

     Buying a home is not a decision that you can take lightly. It requires careful planning and honest assessment of your finances so that you will not end up biting off more than you can chew. Be sure to consider the points discussed above to help you decide if you are in the best position to achieve your homeownership goal today.

     

  • Afterpay and Stripe Partner to Offer ‘Buy Now, Pay Later’ Payments for Merchants

    Afterpay and Stripe Partner to Offer ‘Buy Now, Pay Later’ Payments for Merchants

    Afterpay the leader in “Buy Now, Pay Later,” today announced a partnership with Stripe, the technology company building economic infrastructure for the internet. The two companies are joining forces to offer Afterpay’s payment service to Stripe merchants through an easy and seamless integration.

    The partnership allows both new and existing Stripe merchants to easily offer Afterpay – giving their shoppers the opportunity to receive their items immediately and pay in four installments, without the need to take out a traditional loan or pay upfront fees or interest. Businesses on Stripe can start accepting Afterpay in minutes—there’s no application, onboarding, or underwriting process to get started.

    “Stripe is delighted to partner with Afterpay to make it easy and fast for online businesses to offer their customers Buy Now, Pay Later. We’ve seen strong demand from users around the world for flexible payment options, and this partnership gives businesses on Stripe an effective tool for capturing more sales and reaching new customers,” said Noah Pepper, Stripe’s Business Lead for APAC.

    Afterpay and Stripe are also extending the payment service to top e-commerce platforms, with Squarespace — the all-in-one website building platform — being the first platform to leverage the partnership and offer Afterpay to its customers.

    By offering Afterpay, Squarespace enables merchants to build a fully integrated checkout experience with ease, while maintaining the look and feel of their brand. Merchants will also experience the benefits of offering customers a flexible payment option, which is proven to attract new customers and deliver higher conversions and average order values.

    “Afterpay has been a top requested feature from our customers,” said Paul Gubbay, Chief Product Officer at Squarespace. “Through this partnership, we’re glad to be able to offer our merchants even more flexibility in how they transact with their customers and increase topline sales without having to sacrifice the design elements that are unique to their brand.”

    “Millennial and Gen Z consumers are demonstrating a clear preference for flexible payment options that allow them to budget and spend responsibly,” said Ben Presseley, Afterpay’s SVP of Global Sales Strategy and Operations. “By partnering with Stripe and Squarespace, we’re equipping retailers with the tools to meet this consumer demand – offering the younger generation a way to use their own money and pay over time, always free of interest.”

    Stripe merchants in Australia, New Zealand and the US can now integrate Afterpay, and will be available to merchants in the UK and Canada soon. Squarespace offers the combined integration of Stripe and Afterpay to their Commerce customers in Australia, New Zealand and the US, and will be available to Canadian customers soon.

    Lees ook:

    Lees ook:

  • Former Lloyd’s APAC CEO Joins Delta Insurance

    Former Lloyd’s APAC CEO Joins Delta Insurance

    The specialty underwriting agency has appointed a new chief operating officer to support its burgeoning growth in Asia Pacific.

    Delta Insurance has expanded its management team, appointing current advisory board member Kent Chaplin as COO, the firm announced in a statement on Tuesday.

    Chaplin is no stranger to the industry and the region – he was formerly the CEO and head of Asia Pacific for Lloyd’s, and worked for the insurer in Singapore from 2011 to 2018. In 2019, Chaplin joined U.S.-headquartered company DXC Technology as its global head of reinsurance and specialty sales in Singapore.

    He appointed to Delta Group’s advisory board in August 2019, where he provided strategic planning, business development and governance support.

    Delta Insurance, which started operations in 2017 in New Zealand, is innovation and technology-driven insurtech headquartered in Singapore. It specializes in cyber, technology and professional risk protection, with Lloyd’s underwriting backing.

    Amid the Covid-19 pandemic in 2020, the firm saw 50 percent growth in the Asia Pacific region.

    That growth has encouraged us to significantly broaden our footprint in Asia-Pacific and beyond – becoming more global in our outlook, Ian Pollard, group managing director, said in the statement.

  • HSBC Replaces Singapore Chief

    HSBC Replaces Singapore Chief

    HSBC has named a new Singapore chief executive to succeed Tony Cripps who is set to leave and join Saudi British Bank.

    Wong Kee Joo has been appointed as HSBC’s new Singapore CEO, according to a report citing an internal memo.

    Wong replaces Tony Cripps who is set to become the managing director-designate and board member of the Saudi British Bank (SABB), where HSBC is the largest shareholder at 31 percent, effective April 4.

    Before Wong takes on the new role on June 1, HSBC Singapore’s chief operating officer Olfert De Wit will act as the interim Singapore CEO.

    Wong is currently the Asia Pacific head for global liquidity and cash management and according to HSBC’s deputy chairman and chief executive Peter Wong, such a role has enabled «strong experience in developing digital solutions for wholesale clients and supporting the trade and investment flows between China and ASEAN.

    He had also previously worked in various markets including the U.K., Thailand, Hong Kong, and mainland China.

    We will be increasing our investment in both people and technology as we continue to strengthen our wholesale banking services and to grasp the growing wealth management opportunities in Southeast Asia and beyond, the memo said.

  • Citi Rolls Out Digital-Only Offering in Hong Kong

    Citi Rolls Out Digital-Only Offering in Hong Kong

    The Citi Plusdigital wealth platform was officially rolled out on Monday in Hong Kong, following a pilot launch in December 2020.

    Catered to digital natives, Citi Plus offers personalized wealth management information and knowledge kits for clients and introduces gamification to build healthy financial habits and achieve targets responsibly.

    Millennials were invited to participate in research and the co-creation process, through which we could better address target clients’ pain points, and help them grow their wealth via the new service, Lawrence Lam, Citibank Hong Kong consumer business manager, said.

    The bank said it will launch the platform in other markets in the Asia Pacific region in the future, and is looking to add up to 200,000 clients over the next few years with a target of doubling its base within the next 24 months.

    Citi Plus offers stocks, money market funds, as well as an array of mutual funds primarily from ASI, Allianz Global Investors and Franklin Templeton, are offered on the platform.

    ASI said the partnership is an important part of the firm’s regional distribution strategy for 2021, according to a statement. We’re excited to play our part in enabling a new generation of digital-native investors to take control of their finances and invest for a better future, Andrew Hendry, ASI head of distribution Asia Pacific, said.

    Lees ook: