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Category: General

Retail News Asia is committed to providing both local and global retailers with the latest General Retail news throughout the Asian market. This on a daily base.

  • Vietnamese start-ups receive a $250-mln boost last year

    Vietnamese start-ups receive a $250-mln boost last year

    Fledging startups are concerned most over a lack of funding to get their idea off the ground. Total venture capital investments into Vietnamese start-ups soared 78 percent to about $240 million last year, an official from start-up accelerator program Topica Founder Institute said Friday.

    The Southeast Asian country has an ambitious plan to transform itself from an offshore manufacturing hub for foreign companies into a major player in the global digital economy.

    The government has started adjusting business policies to pivot around small and medium-sized companies and encouraged a start-up bloom.

    Vietnam launched a project last year to support fledging local companies, under which the government will help fund about 2,000 start-ups by 2025.

    Topica Founder Institute statistics showed that as many as 60 percent of investment deals that Vietnamese start-ups managed to seal last year came from venture capitalists.

    Meanwhile mergers and acquisitions accounted for 30 percent of start-ups’ funding and the remaining were financed by private equity firms.

    Just six years ago, Vietnam recorded only 10 start-up investments. The number of successful deals increased seven-fold to 67 deals in 2015, according to Topica Founder Institute.

    Among the most notable investments was South Korea’s UTC Investment’s $38-million acquisition of a controlling stake in VNPT EPay, marking the biggest deal last year, the program said.

    Momo, a local payments and online wallet company, has raised an unprecedented $28 million from Standard Chartered and Goldman Sachs.

    A lack of funding to help start-ups get their idea off the ground is their most concern, startup experts have said.

    Some argued that institutions like the stock market or commercial banks are either not designed to financially support idea-stage companies or have insufficient resources to do so.

    Although there are banks that focus on small and medium-sized companies, they really are not able to offer financing to early-stage companies which often don’t have a track record of reliable annual revenues or a history of good credit.

    Hence start-ups are more likely to seek funds from other resources like venture capital investors and private equity firms.

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  • Wonderful Indonesia wins best exhibitor title in Berlin

    Wonderful Indonesia wins best exhibitor title in Berlin

    Indonesias tourism brand “Wonderful Indonesia” won “The Best Exhibitor 2017” title at the worlds biggest tourism exhibition in Berlin, Germany.

    Indonesias tourism minister Arief Yahya hailed the award announced at around 2.30am on March 12.

    “This is a pride achievement. ITB (International Tourismus Borse) Berling is the worlds biggest tourism exhibition attended by 187 countries, 10,000 exhibitors, 180,000 visitors in Messe, Berlin. All tourism industries, tour and travel agencies, airlines, cruise service, hotels, resorts, attractions, governments, associations gathered at ITB Berlin. Wonderful Indonesia has shown its class at the world level,” he said.

    This is the second title after the one Indonesia won in 2016 when Wonderful Indonesia successfully came out as the Best Exhibitor 2016 beating “Imagine” of South Korea which was placed second, “Incredible of India at the third place, followed by Maldives, Sri Lanka and the Philippines.

    This year Wonderful Indonesia topped South Koreas “Imagine” and Thailands “Imagine”.

    Malaysia was ranked 10th out of 75 countries and 1,466 exhibitors taking part in the event.

    Indonesias participation along with a number of delegations in the event from year to year has proven able to increase transactions significantly.

    In 2015 Indonesia was able to record transactions worth Rp4.2 trillion and in 2016 it increased to Rp6.5 trillion. “The target for 2017 was set at Rp10 trillion,” the minister said.

    Next year he wished Indonesia would be able to win the Best of the Best title and become the champion of five continents.

    This year Indonesia set up a 487 square meter pavilion to present various art exhibitions including dances from Papua, Bali, Betawi and Aceh.

    At the event Indonesia raised the theme of maritime and cultural diversity which was expected to be able to give the public in Europe a full picture of Indonesia.

    Deputy for overseas tourism marketing I Gde Pitana said he had promoted Wonderful Indonesia more intensively at ITB Berlin by cooperating with Indonesian industry players.

    “We brought a delegation consisting of 135 travel agencies, hotel and regional tourism service representatives,” he said.

    The Indonesian pavilion at Hall 26 A Number 120 was storied in the form of a traditional Phinisi ship and Wae Rebo traditional house of Flores.

    He said the two icons represented the theme of Wonderful Indonesia which was “Maritime and Cultural Diversity.”

    Pitana hoped Indonesias tourism brand Wonderful Indonesia would become more popular following the participation in ITB Berlin to make more foreign tourists to come to the country.

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  • AirAsia looking at 90% load factor this year with new flights

    AirAsia looking at 90% load factor this year with new flights

    In an interview, Dexter M. Comendador, Philippines AirAsia chief executive officer, said the parent firm is bringing in more aircraft for the expanded Philippine operations.

    “We’re one of the best performers in the group right now. Last year, we targeted 80-82% load factor and we were able to go over it… Our performance is giving us more planes, that is why we’re expanding,” Mr. Comendador said during the launch of the new Davao routes last Friday.

    While he did not specify how many aircraft will be added, he said AirAsia currently uses 14 for its Philippine local and international routes.

    The new flights starting April 22 using Airbus A320s are: twice a day between Davao and Cebu; daily Davao-Caticlan (Boracay); thrice a week Davao-Puerto Princesa; and four times a week Davao-Clark.

    With these flights, Philippines AirAsia now considers the Francisco Bangoy International Airport in Davao City as another one of its hubs.

    “Davao has so much potentials to be the next ‘wonder’ or the emerging tourism giant for the Philippines and the ongoing development will bear more fruit and contribute significantly to benefit our economy,” Mr. Comendador said.

    “Foreign tourists arriving in Cebu can skip the crowded airport of Manila and fly straight to Davao. With our newest routes, AirAsia would like to provide the much needed connections and tap the unserved markets, tourism and business, in Visayas and Mindanao,” he added.

    Meanwhile, Department of Tourism (DoT)-Davao Region Director Roberto P. Alabado III told the additional flights and routes are a very welcome development.

    “We need new routes that must be served for us to lure more visitors to the region,” said Mr. Alabado.

    DoT-Davao through Mr. Alabado, Mr. Comendador, and Visit Davao Fun Sale Executive Committee Chair Benjamin A. Lizada signed a memorandum of agreement last Friday for the annual summer event promoting the Davao Region.

  • REV Asia looking for partners in Indonesia, Philippines to grow overseas businesses

    REV Asia looking for partners in Indonesia, Philippines to grow overseas businesses

    Digital media group REV Asia is on the lookout for local partners for its operations in Indonesia and the Philippines, says managing director Voon Tze Khay.

    The group’s initial plan, which was to grow its market share in social media advertising revenue in those markets, hit a snag one-year into operations, leading it to seek home-grown partners.

    “We thought if we could run Malaysia at such a successful pace over the last three years, why not try it ourselves? However, after 12 months, we realised that the opportunities in these markets are plenty but the right way and more strategic way to do it is through a local partner, either in the form of merger and acquisition (M&A) or joint venture (JV),” Voon told in an interview.

    He said the group faced operational challenges in both markets, in terms of understanding the local business culture, dealing with local advertising agencies and brands as well as challenges in working style and expectations in the delivery of campaigns.

    “Running a business in these two countries is very different to how we run it in Malaysia simply because the understanding of local and business culture is a fairly important tool. We have not seen it grow in the way that we expected,” he added.

    Voon said it has identified certain players that could be potential partners but talks have not begun as it is still mapping out how to grow with a local partner. The group entered both markets in 2015 with their Says.com and 8share.com brands. These markets contribute about 5% to total group revenue and there are no plans to expand its other brands there in the immediate term.

    “In the next 24 months, we are looking at international revenue (contributing about) 5-8% because our focus is going to be Malaysia. We are expecting Malaysia to grow in the double digits year-on-year in both revenue and bottom line.

    “For international markets, there’s still a lot more groundwork to be done for local business understanding and a lot more research to be done from data point of view. That doesn’t mean we are not putting in efforts to grow it. But growth compared with Malaysia will be a lot smaller,” said Voon.

    In 2017, the group aims to grow in terms of audience and revenue in Malaysia, through organic growth and M&As, by shifting its focus to videos and small and medium enterprises (SMEs).

    Voon said consumption of videos on mobile has grown tremendously and will continue to grow. It also aims to tap into the 700,000 SMEs in Malaysia by offering them specific packages to promote their services across the group’s platforms.

    In 2016, total video revenue contributed 10% while total SME revenue contributed only 2%. This year, it aims to grow contribution from these two products to 25% and 12% respectively.

    In terms of M&A, Voon said, REV Asia is always on the lookout for opportunities within the three main languages in Malaysia.

    “We will continue to seek out M&A opportunities but we will be selective. It has to be a digital media product with a sizeable audience already visiting the site and we will look at how that particular brand fits within the entire REV Asia set-up,” he said.

    Recall that the group acquired two Chinese websites, Viralcham and Rojaklah, in 2015 and last year it acquired three Malay-language websites, namely Siraplimau.com, Myresipi.com and Kongsiresepi.com.

    Meanwhile, REV Asia Bhd (holding company of REV Asia) saw its shareholding in iCar Asia Ltd diluted to 17.28% in September last year and in November shareholders approved the transfer of its shareholding into a special purpose vehicle (SPV).

    “The process is underway, we are waiting for the finalisation of a court order to reduce the share capital and to fully formalise the transfer of the shares of iCar Asia out from REV Asia Bhd into an SPV. We hope to complete the transfer by first quarter this year,” said Voon.

  • Vietnamese graduates have unrealistic salary expectations

    Vietnamese graduates have unrealistic salary expectations

    Fresh graduates overestimate their chances of getting well-paying jobs in Vietnam, and they’re not alone. A survey conducted by employment site Jobstreet has found that Vietnamese university graduates have salary expectations that are out of sync with the local job market.

    About 35 percent of the 1,600 new graduates surveyed expected a monthly salary of VND4 million-5 million ($175 – $220), and over 21 percent wanted to be paid as much as VND6 million ($264), based on the survey. Vietnam’s average annual income was around $2,200 last year.

    However, the average monthly salary on offer for new starters currently stands at $175 per month.

    The survey also found that Vietnamese graduates aren’t the only ones out of whack with reality.

    For example, Hong Kong graduates expect average first-year salaries of $2,252-2,320, much higher than the average wage of $1,772 on offer.

    In Singapore, university graduates actually make an average of $1,966 per month, but their expectations range from $2,416 to $2,609.

    The Malaysia-based Jobstreet survey highlighted the fact that millennial students, those born in 1980 or later, asked for unrealistic salaries and benefits.

    Millennials are very likely the largest group in the current workforce. According to audit, tax and consulting services provider PWC, as many as 45 percent of the population comprises of millennials, and an estimated 60 percent of the world’s millennials are expected to live in Asia by 2020.

    A survey conducted revealed 69 percent of millennials said that money matters most in a job. That means pay is still the primary reason for companies to attract and retain their millennials and is also the deciding factor when changing jobs.

    This is not surprising given better standard of living for millennials, said Jobstreet.

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  • Women empowered to become entrepreneurs

    Women empowered to become entrepreneurs

    Life was not easy for Charier Valcarcel Rosita of Tagum City, Davao del Norte. She had to give up her job in a school canteen to take care of her child and do household chores.

    Rosita thought that was all life had to offer until she became aware of her full potential as an entrepreneur.

    Her chance to do business came when she joined the first batch of the Coca-Cola 5by20 Sari-Sari Store Training and Access to Resources (STAR) program in Tagum City in 2014.

    Rosita is one of the more than 80,000 women who have benefited from the STAR program since Coca-Cola Philippines launched it in 2011. Under the program, they learned the rudiments of business, including managing capital expenditures against daily sales and other tips on how to run a sari-sari store.

    The 80,000 women whom the STAR program helped are just part of the Coca-Cola Company’s target to economically empower five million women by 2020 as part of its “5by20 global initiative.”

    “The STAR program has helped a lot. We were able to establish high-volume distribution of Coca-Cola in our community. It prods us to move on despite the hardships,” Rosita said in the local dialect.

    Last Friday, Rosita joined the gathering of 5,000 women micro-entrepreneurs at the University of Southern Philippines in Davao City.

    The gathering was organized by Coca-Cola Philippines in coordination with the local government of Davao City, non-governmental organizations and the private sector.

    With the theme “We Make Change Work for Women Micro-Retailers,” Friday’s gathering highlighted the impact of the initiatives of Coca-Cola Company in helping women achieve business success.

    “Coca-Cola is helping create an enabling environment for the business success of women micro-retailers by setting up these partnerships, particularly with government agencies and micro-finance institutions that would help women overcome barriers and challenges they face in achieving economic success,” said Gilda Maquilan, sustainability manager of Coca-Cola Philippines

    “This event is an avenue to promote STAR program’s inclusivity across all Filipino women interested in micro-retail businesses such as sari-sari stores and carinderias,” she added.

    On the same day, Coca-Cola Philippines also forged a memorandum of agreement with the Congressional Spouses Foundation Inc. headed by Emily Alvarez, wife of Speaker Pantaleon Alvarez, for a partnership in recruiting the spouses of military and police personnel for the STAR program.

    “As an organization, we will continue to help empower women both inside and outside our company,” said Diego Granizo, president and general manager of Coca-Cola Philippines.

    “I am here together with my colleagues from the Coca-Cola System to demonstrate our continued commitment as your partner to grow your sari-sari store and carinderia business. We believe that if you are able to grow your business, it will enable you to help your families, and together we help in the nation building,” he added.

  • The AirAsia Mega Sale is now on with international flights from $95

    The AirAsia Mega Sale is now on with international flights from $95

    Asian low-cost carrier AirAsia is at it again with another mammoth sale to dozens of Asian destinations during the Australian winter – so you can escape the cold and looking forward to warmer climes, naturally.

    Prices start from $95 one-way, which is for Darwin to Bali. Followed closely behind are $99 tickets which will get you from Perth to either Bali or Kuala Lumpur one-way.

    To give you an idea of how competitive these fares are, not 10 days ago Jetstar was offering $99 one-way flights to Bali from Darwin and $129 fares to Bali from Perth.

    Other hot fares in AirAsia’s Mega Sale include: Gold Coast to Auckland from $119, Perth to Jakarta from $124, Sydney to Kuala Lumpur from $149, Sydney to Penang from $174 and Melbourne to Singapore from $184. All these prices are for one-way economy tickets.

    Other cities on sale are Seoul, Siem Reap, Shanghai, Tokyo, Hong Kong, Hanoi and Krabi.

    These sale flights are for travel between 1 September all the way to 5 June 2018 – so you have plenty of time to save up the dosh for a big holiday blow-out. Just remember that black-out dates may apply during public and school holiday periods.

    Flights are available departing from Gold Coast, Melbourne, Perth and Sydney. Most flights include a stopover in Kuala Lumpur.

    AirAsia charges a $10 processing fee per flight per person on credit and debit card purchases. You can avoid this by paying with PayPal.

    As a low-cost carrier, this price does not include extras such as checked baggage, on-board meals and in-flight entertainment. These can be purchased during the booking process for an additional fee.

    We found these fares on I Want That Flight which you can tap into by clicking on the search buttons below.

    This AirAsia mega sale ends 19 March 2017.

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  • AirAsia offers three million promo seats

    AirAsia offers three million promo seats

    AirAsia will be giving away up to three million promotional seats in its first major promotion of the year.

    The promotion is available on airasia.com from March 13 to 19 for travel period from Sept 1, 2017 to June 5, 2018.

    Fares will be as low as RM0 to destinations such as Ho Chi Minh City, Phnom Penh, Miri, Bangkok, Phuket, Jakarta and many more.

    Those travelling on AirAsia X will be able to enjoy its award-winning Premium Flatbed from Kuala Lumpur to Wuhan, Chongqing, Perth, Sydney and many more destinations from RM699.

    AirAsia BIG members will enjoy priority access to the promotion and can make bookings via airasia.com or mobile app or redeem flights via airasiabig.com and the newly released AirAsia BIG mobile app from March 12.

    Other partners will also be able to access the promotion 24 hours earlier.

    Other guests can book flights from March 13 to March 19 for travel between Sept 1 and June 5, 2018.

    “We like to start the year with a bang and what better way to make a spring splash than with free seats for our valued guests,” said AirAsia Group chief commercial officer Siegtraund Teh in a statement.

    “As always, AirAsia BIG members get perks and we’ll be allowing them to book flights 24 hours before we open the sale to the public,” she said.

    AirAsia is also trying to connect travellers to new and exciting destinations with recent launches to Luang Prabang, Laos; Bhubaneswar, India; and Honolulu, USA.

    For wanderlusts who wish to travel immediately, AirAsia has a special promotion for bookings during the same period for travel period from March 14 to Aug 31.

    AirAsia is Asia’s leading and largest low-cost carrier by passengers carried, with a network of more than 120 destinations to all Asean countries, other parts of Asia, Australia and New Zealand and the Middle East.

    AirAsia was named World’s Best Low-Cost Airline for the eighth year in a row and AirAsia X won the World’s Best Low-Cost Premium Cabin and Premium Seat for the fourth straight year at 2016 Skytrax World Airline Awards.

    AirAsia was also awarded World’s Leading Low-Cost Airline for the fourth consecutive year at the 2016 World Travel Awards, where it also beat a field of full-service carriers to become the first ever low-cost carrier to win World’s Leading Inflight Service.

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  • Guerlain and Shilla open new Changi T1 ‘exclusive outpost’

    Guerlain and Shilla open new Changi T1 ‘exclusive outpost’

    Between March 1 to April 12, Changi Airport and its exclusive perfume and cosmetics retailer The Shilla Duty Free have teamed up to create ‘an exclusive Outpost’ within the Terminal 1 Cosmetics & Perfumes central store to mark the launch of the brand’s new fragrance – Mon Guerlain.

    Located next to the transit departure hall this new presentation is designed to give visitors and customers ’a rare glimpse’ of the brand’s DNA and heritage, utilising a an olfactory journey of Mon Guerlain with a Fragrance Organ display.

    This is designed to provide ‘compelling insights’ into the story behind the Mon Guerlain fragrance and how it was created. The Mon Guerlain creation was first imagined by Thierry Wasser, the famous fifth Guerlain perfumer and it was turned into reality ‘for the extraordinary, sincere and authentic woman’, says Guerlain.

    ‘RECOGNISING THE AMBIGUITY OF MALE AND FEMALE SCENTS…’

    It adds that the fragrance begins with the base notes of Tahitensis Vanilla, along with subtle notes of Carla Lavender, Sambac Jasmine and Santalum Album Sandalwood.

    The company said: “The result is an exceptional fragrance that reconciles the divide and ambiguity of masculine and feminine scents. Mon Guerlain comes beautifully encased in a quadrilobe bottle, an iconic design that owes its name to its unique stopper, formed from a solid piece to attain the shape that resembles four lobes.

    “Angelina Jolie is the muse who inspired the birth of Mon Guerlain and her love for tattoos is widely celebrated through the new fragrance. Perfume is likened to having an invisible tattoo on the skin, and drawing on this unique concept, a Guerlain Tattoo Atelier has been specially created at the Outpost to complement and deliver a unique experience to travellers.

    TATTOO ARTISTS ON HAND…

    “A tattoo artist will be present at selected timings to create beautiful gold tattoo art that expresses the spirit and DNA of Mon Guerlain. Travellers can choose from six preset Guerlain flash tattoos, or even enjoy a customised hand-drawn gold tattoo adapted from preset designs.”

    Guerlain says travellers ‘are also in for a riveting treat’ as the Fragrance Organ display includes a grand showcase of the limited edition Mon Guerlain Bee Bottles, an exclusive exhibit at this Outpost, which is also available for sale.

    An emblematic symbol of the Guerlain House, the Bee bottle pays tribute to the beauty, elegance and charm of Her Majesty Empress Eugénie, wife of Napoleon III. Embodying extreme precision and refinement, each Bee bottle is painstakingly dressed in baudruche and embellished with silk cords by the skilful hands of Guerlain’s nimble-fingered craftsmen.

    Commenting on the initiative Guerlain’s Regional Director Travel Retail Asia Caroline Teichteil said: “Guerlain is thrilled to present its first-ever Outpost at Singapore Changi Airport. Mon Guerlain is a fragrance that embodies modern femininity and we believe that this collection will greatly resonate with the stylish globe-trotter and become a must-have essential in their beauty kit.”

    PERSONALISED SHOPPING EXPERIENCE

    Teo Chew Hoon, Changi Airport Group’s Senior Vice President of Airside Concessions added: “The innovative and interactive concept of the Guerlain outpost will further elevate the retail experience at Changi. Whether it is exploring the exclusive exhibition of the Mon Guerlain Bee Bottles, or visiting the Guerlain Tattoo Atelier, travellers can expect a personalised shopping experience filled with surprises.

    Raelene Johnson, Head of Global Merchandise Division, The Shilla Duty Free added: “The Shilla Duty Free has always been committed to working closely with Changi Airport and our brand partners to present exciting experiences for our global shoppers.

    “The Mon Guerlain Outpost offers activities that give travellers an immersive, multi-sensory experience. We are also thrilled to educate shoppers about the artisanal craft behind Guerlain’s fragrance-making as they discover the intricacies of the perfumery world through the eyes its perfumer,”

    SIZES AND ADDED INCENTIVES…

    The new fragrance is available as a 50ml Mon Guerlain EDP Fragrance (S$133.00) or 100ml (S$189.00) and Tier 1 Customers will receive a miniature Mon Guerlain EDP fragrance (5ml) with every purchase of the 50ml Mon Guerlain EDP fragrance.

    Tier 2 Customers will receive a miniature Mon Guerlain EDP fragrance (5ml) and body lotion (30ml) with every purchase of the 100ml and Tier 3 will be given a miniature Mon Guerlain EDP fragrance (5ml), body lotion (30ml) and mini candle with a minimum spend of S$430 (including a Mon Guerlain EDP fragrance of any size).

    Last, but not least, ISHOPCHANGI.COM customers will receive a Mon Guerlain EDP miniature and an exclusive Guerlain bracelet with any purchase of the Mon Guerlain EDP fragrances (50ml or 100ml).

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  • Hong Kong retail sales continue to fall

    Hong Kong retail sales continue to fall

    Hong Kong retail sales fell again in January – by a modest 0.9 per cent.

    However, a spokesman from the Census and Statistics Department (C&SD) warned the figures may be have been affected by the earlier timing of Lunar New Year which fell at the end of January. he cautioned reading too much into the data until the combined January-February figures this year can be compared with last.

    In volume terms – taking into account the effect of inflation – sales fell by 1.4 per cent.

    “Looking ahead, the near-term outlook for the retail sales business will continue to depend on the performance of inbound tourism and on whether local consumer sentiment would be affected by the various uncertainties in the external environment,” he said.

    The value of total retail sales in January 2017 was provisionally estimated at HK$43.1 billion. The decline of 0.9 per cent was substantially lower than December’s 2.9 per cent decline – but January’s data could have been buoyed by spending on gifts and inbound tourist spending over the holiday period.

    “Local consumer spending normally attains a seasonal high before the festival. As the Lunar New Year fell on January 28 this year but on February 8 last year, the year-on-year comparison of the figures for January 2017 with those for January 2016 might have been affected by this factor to a certain extent.”

    Broken down into broad type of retail outlet in descending order of impact on the overall figure, sales of jewellery, watches and clocks and valuable gifts decreased by 3.9 per cent. This was followed by sales of apparel down 5.2 per cent, electrical goods and photographic equipment down 24.4 per cent, miscellaneous consumer durable goods  down 17.8 per cent, furniture  down 9.4 per cent and books, newspapers, stationery and gifts down 0.6 per cent.

    Categories to show an increase were supermarket sales up 5.4 per cent, department store sales up 2.8 per cent, food, alcoholic drinks and tobacco up 9.9 per cent, medicines and cosmetics up 2.8 per cent, ‘other consumer goods’ up 12.1per cent, footwear and accessories up 4 per cent, Chinese drugs and herbs up 1.5 per cent and eyewear up 3.4 per cent.

    After seasonal adjustment, the C&SD estimated the total value of retail sales decreased by 3.3 per cent in the three months ending January 2017, compared with the preceding three-months.

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  • Atradius’ Ku appointed Country Manager for Hong Kong and Taiwan

    Atradius’ Ku appointed Country Manager for Hong Kong and Taiwan

    With immediate effect, Mr. Ku will take on the overall responsibility for the business operations and management of the Hong Kong and Taiwan team. The Hong Kong and Taiwan business showed growth of close to 10% in 2016 and Mr. Ku’s priority will be to further expand our business in the region and to maintain sound and closer relationships with our partners and customers.

    “I’m pleased to announce that Vincent Ku has been promoted to Country Manager Hong Kong and Taiwan. Mr. Ku joined Atradius as a Sales Manager in 2008 and has proven to be a strong addition to the Atradius family. Over the past years he has used his experience in the credit insurance market to continuously contribute to the profitable growth of our business in the Greater China region” says Eric den Boogert, Managing Director for Asia and the Middle East.

    In his previous position as a Regional Sales Manager, Mr. Ku was responsible for new business in China and was instrumental in returning the portfolio to profitability after the GFC.

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  • See Singapore from $445 return flying Singapore Airlines

    See Singapore from $445 return flying Singapore Airlines

    With budget airlines such as Scoot now flying to Singapore, cheap flights to the Asian nation are a dime a dozen. However, if you’re searching for luxury on that long-haul journey, Singapore Airlines is one of the best carriers to take you there.

    The luxury airline currently has discounted fares to Singapore from $445 return, for flights departing from Perth.

    The last time we saw Singapore Airlines’ fares drop along these routes was in November 2016, where fares started from $515 return.

    These sale flights are for travel on select dates between 8 May and 21 October 2017. This includes select dates in June, which is an ideal time to visit Singapore as it’s the dry season and outside of the school holiday period.

    Sample fares in this sale include $552 return from Darwin, $600 return from Melbourne and $613 return from Sydney.

    Singapore Airlines is an all-inclusive carrier. These fares include checked-in luggage, in-flight entertainment and on-board meals.

    These fares are not part of any particular promotion and are available until sold out.

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  • China Southern Airlines issues open invitation to brands

    China Southern Airlines issues open invitation to brands

    Li Jianhua, President and CEO, Guangzhou China Southern Airlines (CSN) Inflight Duty Free says it has enjoyed double-digit sales growth in recent years driven by innovation in its product portfolio as well as the introduction of duty free exclusives and a pre-order service.

    “We have redeveloped our products and pricing for specific buyer groups,” said Jiianhua. “But we still need more luxury brands to enter the market to appeal to a new generation of consumers in China.”

    She also implored brand owners in the audience to come forward to begin conversations with CSN, whilst promoting the huge potential of the China inflight market.

    Jianhua charted the company’s rise to success to become ‘the largest airline in Asia by fleet and passengers’ as the carrier claims. Jiianhua highlighted that CSN launched its first inflight retail programme in 2001 and it very quickly began to play a very important role for the airline, not just from a customer engagement perspective, but from a revenue generation standpoint.

    She pointed out that the company wants to extend its global reach, identifying that Southeast Asia represents 31% of the company’s current route quota and with Japan & Korea accounting for 28%.

    She also pointed out that she believes the company has great potential, especially considering that Chinese overseas visitors reached 122m in 2016. As the company expands its route reach and takes advantage of the growing number of passengers Jianhua insists that inflight retail will be available on ‘every international flight’.

    Skincare represents 30% of China Southern’s inflight business.

    She noted that research from Fortune Character suggests that Chinese consumption continues, but has slowed down in recent years and high-end consumers now tend to make more ‘rational’ decisions.

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  • Number of women in management positions increases in Asia

    Number of women in management positions increases in Asia

    The 2017 Hays Asia Salary Guide reveals that 31 percent of management roles in Asia are held by women compared to 29 percent reported in last year’s Guide.

    Recruiting experts Hays has found that the number of women in managerial positions has increased in Asia.

    The 2017 Hays Asia Salary Guide reveals that 31 per cent of management roles in Asia are held by women compared to 29 percent reported in last year’s Guide.

    The Hays Asia Salary Guide now in its tenth year, highlights salary and recruiting trends drawn from more than 3,000 employers across Japan, mainland China, Hong Kong, Malaysia and Singapore representing six million employees.

    The countries with the highest percentage of women in managerial positions in the region are mainland China and Malaysia, both at 35 per cent. Whilst mainland China has increased this figure by three percent, Malaysia has decreased by two per cent from last year.

    Hong Kong sits in third place with 33 per cent of management positions filled by women. Hong Kong incidentally, reported the largest increase in the region with a rise of five per cent from last year. Singapore follows with 31 per cent with Japan remaining the poorest performer with only 22 per cent of women in managerial positions. This figure has however, increased by three per cent from last year.

    These findings come as Hays launch their 2017 Gender Diversity Survey also in line with International Women’s Day. The annual survey aims to uncover attitudes and perceptions of gender equality in the workplace.

    “As progress continues to be made on gender diversity, the topic is still a critical issue in Asia. The rich insights our research uncovers, enables us to share the findings and advise employers on what measures can be taken to address the gender balance in their recruitment, retention and progression strategies”, says Christine Wright, managing director of Hays in Asia.

    For Christine who was named in the ‘Global Power 100 – Women in Staffing list’ for the second year running in 2016, gender diversity is a topic she lives and breathes. “As the leading recruiting experts, Hays has a duty to be at the forefront of trends and issues regarding the world of work. In Asia, I’m immensely proud that 51 percent of the Hays workforce across the region is female, 44 per cent of females make up our senior leadership teams and 57 percent of people managers are female.”

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  • Hong Kong’s Wheelock to exit struggling media business

    Hong Kong’s Wheelock to exit struggling media business

    A subsidiary of Hong Kong-listed developer Wheelock has decided to end funding for its pay TV operator in a bid to focus on property development, leaving the fate of its loss-making business up in the air.

    Wharf Holdings, a 58%-owned subsidiary of Wheelock, announced on Thursday that it had stopped discussions with potential buyers on the sale of i-Cable Communications, as no deal had been reached to shed the struggling unit.

    Its current funding commitments to i-Cable, including a loan of 400 million Hong Kong dollars ($51.5 million), will also not be extended upon expiry. Wharf’s committed capital for i-Cable stood at HK$18 million at the end of December.

    “The chance of a turnaround for the business in the short- and medium term is low,” said Wharf Chairman and Managing Director Stephen Ng Tin-hoi at an earnings briefing on Thursday, justifying the group’s decision.

    I-Cable, which is 74% owned by Wharf, has been operating in the red in the past eight to nine years. Its net loss widened to HK$313 million last year on weak advertising revenue and growing competition in the TV industry. The station’s paid-TV license will expire by the end of May but it has received government approval for a new license until 2029. It is preparing to launch free-to-air TV operations in May.

    “Accepting the new license will be another 12-year commitment and we’ll have to see,” said Ng, without commenting directly on the possible closure of the two-decade-old TV operator. Meanwhile, the board of i-Cable announced on the same day it would hire a financial consultant to explore alternative funding sources or advise on business reorganization.

    Television Broadcasts and Asia Television, long Hong Kong’s only free-to-air broadcasters, both attracted a number of bidders over the past year, which might suggest more bidders could yet emerge for i-Cable. Unlike i-Cable, both offer a buyer a deep library of old programs, but ATV nevertheless shut down last year. This week, TLG Movie and Entertainment, which had signaled a bid for a 29.9% stake in TVB, withdrew its offer.

    Wharf’s exit from the media business began with the sale of its fixed-line telecommunications unit, Wharf T&T, for HK$9.5 billion last year.

    The group will also study the possibility of spinning off some of its office and retail assets in Hong Kong and mainland China. This could be achieved by means of a distribution in specie to Wharf’s shareholders. “A simple segregation may provide investors with more and better choice,” it said in the earnings statement.

    “It’s just the beginning of our study,” said Ng, stressing that Wharf has no specific timeline for the proposal. “Neither do we have an expected outcome. We might not do it eventually.” Asked whether the spinoff would be in the form of a real estate investment trust, Ng said: “This can be considered but we have to decide whether we will have a separate listing first.”

    After the transaction, Wharf would remain a conglomerate with businesses spanning property development and logistics.

    The proposal of a spinoff came on the back of Wharf’s resilient earnings from its investment properties amid a retail downturn. Its net profit surged 34% on the year to HK$21.4 billion last year.

    Revenue rose 14% to HK$46.6 billion, helped by stronger property sales and nearly 6% growth in rental income from its two flagship malls — Causeway Bay’s Times Square and Harbour City in Tsim Sha Tsui — in prime shopping districts in Hong Kong.

    On the mainland, Wharf reported modest 1% growth in rental revenue from its malls in the southwestern city of Chengdu to offices in Shanghai. It will roll out new malls and hotel projects in Chongqing as well as Changsha in central China in the second half of the year.

    Wharf’s shares closed 0.48% lower at HK$62.25 on Thursday, before the results were announced. Its stock has advanced 21% this year, against the Hang Seng Index’s 6.8% gain.

    However, some analysts are skeptical about a full recovery in Hong Kong’s retail market this year. China’s wider economic slowdown and Hong Kong’s peg to a stronger U.S. dollar has continued to discourage mainland tourist spending in the territory.

    Last year, retail sales in Hong Kong suffered the worst drop in two decades and were down nearly 12% from the 2013 peak. “It’s quite impossible for a sharp rebound in 2017,” wrote Alfred Lau, a property analyst at Bank of Communications International in a note on Monday, expressing caution about the rental growth of retail properties. “We prefer developers with office assets rather than retail properties.”