Retail News CRM

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.

  • ADS Securities Hong Kong Launches Retail Offering

    ADS Securities Hong Kong Launches Retail Offering

    Representatives from the financial services industry, media and VIPs gathered at The Peninsula Hotel in Hong Kong today to mark the launch of ADS Securities Hong Kong Limited’s retail offering. Investors in Hong Kong will now have access to over 60 currency pairs on ADS Securities’ proprietary, multi-asset online OREX trading platform.

    Francis Lee, Managing Director of ADS Securities Hong Kong Limited, welcomed guests and introduced the cutting edge offering, setting out the vision and ambition of the company. “Retail customers in Hong Kong are looking for a trading partner that is highly capitalized, offers access to tier one bank and non-bank liquidity, and uses cutting edge institutional-level platforms. This is precisely the gap in the market ADS Securities’ retail offering will fill.”

    Philippe Ghanem, CEO & Vice Chairman of ADS Securities, said: “Our physical presence in Hong Kong and strong retail offering are critical to our broader corporate strategy of bridging trade flows between Europe, the Middle East and Asia. ADS Securities has earned its reputation in the Middle East and Europe by providing excellent client service and competitive pricing, using the latest online trading technology. Our retail clients in Hong Kong today will now have the opportunity to experience a key driver of our global success: our tier 1 multi-asset trading platform, OREX.”

    OREX represents a multi-million dollar investment in technology which is accessed by investors around the world. This award-winning institutional-level platform was developed with the consumer in mind, providing access to ultra-low latency pricing infrastructure, fast execution, and flexible trading size.

    From the launch (September 14), ADS Securities Hong Kong will offer highly competitive pricing across a full range of over 60 currency pairs, with no minimum deposit requirement. Tutorials and educational tools are also available for novices, intermediaries and professionals, along with dedicated multilingual customer support teams on hand 24/5 via phone, email and Whatsapp.

    ADS Securities Hong Kong Limited provides leveraged FX trading services to Hong Kong clients, giving them market leading technology, excellent prices and spreads, and best in-class client service. ADS Securities Hong Kong Limited is a fully owned subsidiary of ADS Securities LLC based in Abu Dhabi and regulated by the Central Bank of the UAE.

    Hong Kong’s team of highly experienced FX specialists is led by Francis Lee, the widely respected academic, finance expert and executive, who runs the group’s strategic development and business operations in the Asia Pacific Region. ADS Securities Hong Kong Limited is regulated by the Hong Kong Securities and Futures Commission (CE No AXC847), and holds a type three license allowing it to trade leveraged FX.

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  • Hong Kong retail sales slump by widest margin since January

    Hong Kong retail sales slump by widest margin since January

    Retail sales in Hong Kong declined for a sixth straight month in August due to a slowdown in inbound tourism and sluggish economic conditions.

    The value of total retail sales in August declined 5.4 per cent year on year to HK$37.9 billion, following a 2.8 per cent drop in July, according to the latest figures from the Census and Statistics Department.

    The fall was the biggest since January’s year-on-year decline of 14.5 per cent.

    The government said on Friday that the tourism downturn and recent stock market gyrations might have dented consumer sentiment.

    The total number of visitors dropped 6.6 per cent to 5.6 million in August, while the largest source of visitors -from the mainland – declined by 7.1 per cent.

    The spokesman also said the different timing of the MidAutumn Festival, which fell in late September this year but early September last year, pushed back some sales and added weakness to the performance in August.

    Sales of Chinese drugs and herbs recorded the biggest drop of 17.4 per cent among the various sectors.

    Apparel and department store sales suffered further retreats of 13.5 per cent and 8.6 per cent respectively, after dropping 13.1 per cent and 7.3 per cent in July. The value of jewellery, watches and clocks and valuable gifts dropped for an eleventh month, with a decline of 8.8 per cent in August.

    Bank of Communications economist and strategist Kelvin Lau Gin-yip said the continued fall in retail sales was expected, and warned that the worst was yet to come.

    “It is just the beginning,” Lau said.

    “The tourism downturn results in downsizing for the retail sector, which further dents local consumer sentiment. This is reflected in the decline in apparel and department store sales.”

    Lau also said the near-term outlook for retail sales remained subject to uncertainties, and he could not see any prospect for recovery in the short run because of the strong US dollar to which the local currency is pegged.

    However, there was some positive news. Sales of miscellaneous consumer durable goods surged 50.2 per cent in August. No explanation was given.

    Commerce minister Greg So Kam-leung said yesterday that the spending pattern of tourists, especially mainlanders, had changed.

    He added that the government noted weakening Asian currencies had prompted tourists to visit alternative destinations, and economic uncertainties had dented tourist sentiment, which had led to slumping retail sales. He said the government would closely monitor the situation and consider possible strategies to help tourism.

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  • Davidoff & Sparkle Roll seal huge China deal

    Davidoff & Sparkle Roll seal huge China deal

    Oettinger Davidoff AG and the Hong Kong listed Sparkle Roll Group have rubber stamped their earlier agreed multi-million dollar Davidoff cigar and cigar accessories joint venture for China, with Davidoff taking 49.9 % and Sparkle Roll 50.1%.

    While the framework agreement was announced several months ago, the development is nevertheless a huge commitment for both companies with Oettinger Davidoff agreeing to subscribe for 499 Shares in the New Joint Venture Company, representing 49.9% of the total number of the issued shares at a total purchase price of US$1.497m (equivalent to approximately HK11.677m).

    For its part, Sparkle Roll/CGL is subscribing for 501 Shares representing the 50.1% balance at a total purchase price of US$1.503m (equivalent to approximately HK$11.723m).

    Commenting on the landmark arrangement, Hans-Kristian Hoejsgaard (left), CEO and Board member of Oettinger Davidoff AG, said: “The signing of this Joint Venture agreement heralds a new era in our relationship with Sparkle Roll and in our commitment to building the Davidoff business in China.

    “This market represents the single largest business opportunity for Davidoff in our time and I am convinced that with this new Joint Venture we will be able to exploit that opportunity to its fullest.”

    Mr. Tong Kai Lap, Chairman of Sparkle Roll, said: “Since the individual customers of Sparkle Roll’s existing principal business in top-tier automobiles are predominantly people with high spending power, the Joint Venture will create synergies for both companies. The end products in both businesses are perceived to have the same target customer group and market positioning in the premium segment.”

    The Sparkle Roll Group’s business reads like the Who’s Who of the luxury goods industry, with its main business principally engaged in the trading of top-tier automobiles, high-end watches and jewellery, fine wines and other branded consumer goods in the PRC, Hong Kong, Macau and Malaysia. It also operates dealerships for top-tier automobiles such as Bentley in Beijing and Tianjin, Lamborghini and Rolls-Royce in Beijing.

    The original announcement relating to this deal was made earlier this year and referred to in Davidoff’s results statement earlier this year.

    The first part of a comprehensive interview with Hans-Kristian Hoejsgaard also appeared in the September issue of TRBusiness, with the second due to appear in the October TFWA show issue in a few week’s time.

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  • AirAsia makes Tune Money its wholly owned unit

    AirAsia makes Tune Money its wholly owned unit

    AirAsia Bhd is acquiring the remaining 60% interest in financial services provider Tune Money Sdn Bhd as well as its entire issued redeemable preference shares (RPS) for RM6.36mil in cash.

    In a filing with Bursa Malaysia, AirAsia said the payment of about RM0.038 per ordinary 10 sen share and RM150,000 per RPS to vendor Tune Money International Sdn Bhd (TMI) would be financed by the company’s internally generated funds.
    TMI and AirAsia share two common shareholders and directors, namely Tan Sri Tony Fernandes and Datuk Kamarudin Meranun.
    AirAsia said Bank Negara had stated on Sept 30 that it had no objections to the transaction.
    On the rationale for the acquisition, it said this would give additional benefits that could only be realised through full ownership and control of Tune Money.
    “Full ownership would allow greater control and facilitate accelerated decision-making with regards to AirAsia priority items that would help support the company’s business plan and commercial objectives.
    “Additionally, once AirAsia increases its stake in Tune Money to above 50%, Tune Money will no longer be classified as an associate and AirAsia will be able to incorporate Tune Money’s contributions to company revenue, which would improve AirAsia’s top line as well as ancillary revenue,” the low-cost carrier said.
    These, it added, were on top of the existing benefits that AirAsia enjoyed through its ownership of a stake in Tune Money, such as lower merchant discount rate, increasing ancillary spend by incentivising guests with meal and baggage discounts, and accelerating deployment of the BIG Loyalty programme by allowing points accrual from purchases outside the AirAsia ecosystem.
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  • CRMNEXT Launches Indonesian Digital Operations in Alliance with Dimension Data

    CRMNEXT Launches Indonesian Digital Operations in Alliance with Dimension Data

    CRMNEXT, Global Leader in commutable cloud, Digital-Customer Relationship Management (CRM) solutions, today announced, launch of its full-fledged Indonesian operations in alliance with Dimension Data, a leader in cloud architecture solutions. The 2-day (7th & 8th October) launch event kicked-off today at Hotel Sultan in Jakarta, Indonesia.

    Indonesia is the fastest growing economy in south-east Asia. In order to cope with a growing economy amidst a wave of global Digital disruption, businesses such as Banking, Financial Services & Insurance in particular, need smarter tools to manage and nurture their customers.

    Elaborating on the inaugural event, Sushil Tyagi, Director – Global Sales for CRMNEXT, said “We are truly excited with the launch, as Indonesia not only has an impressive economic growth, but is also coupled with well-functioning financial systems. It’s imperative that technology solutions would advance organization’s efficiency and overall progress.  CRMNEXT is the world’s only true auto-upgrade, scalable and agile CRM Solution for the digital age. Dimension Data brings the right synergies to deliver cloud CRM solution on private or public cloud. Together, we would be able to offer the right solutions to the Indonesian customer to implement a true cloud solution for today’s digital Age.”

    Delivering a seamless delightful customer experience that propels companies to accelerate growth is the need of the hour. Acknowledging this need, CRMNEXT’s partnership with Dimension Data will provide Digital-CRM solutions that are custom made and designed for Indonesian business.

    Manish Pratap, General Manager, IT as a Service, Dimension Data Asia Pacific said, “In the digital economy, organizations need to innovate faster than ever before. They must think big, start small and scale fast. We at Dimension Data are committed to making industry leading solutions available to enterprises on our Managed Cloud Platform™. It is our pleasure to partner with CRMNext, a leader in the Digital CRM market, to jointly deliver their solution on cloud.”

    Speaking on the occasion, said Hitesh K. Arora, Director of Strategy and Customer Advocacy for CRMNEXT, “Businesses can start small, do a thorough pilot and then scale up as per need on a reliable true-cloud infrastructure. We’ve proven this for Asia’s largest enterprises including the largest Digital-Native Bank. This kind of convenience driven by agile, cost-effective technology has repeatedly given significant savings on running costs and is primarily offered only by CRMNext. Hence, we believe we’re here to stay and serve the Indonesian business community.”

    Insurance Companies, Banks & Financial Services Enterprises of Indonesia would especially be impacted by this new partnership that offers smarter tools to manage and nurture their expanding customer-base.

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  • Tesco Asia sell-off ruled out

    Tesco Asia sell-off ruled out

    Tesco has ruled out selling any more of its Asian operations in the wake of the Homeplus South Korea divestment.

    At least for now.

    After the US$6 billion sale of Homeplus and an earlier divestment of a stake in its Chinese operation, Tesco Asia retains a large business in Thailand, trading as Tesco Lotus, and in Malaysia.

    Tesco Chairman John Allan has assured shareholders there are “no immediate plans” to sell off any of the company’s remaining overseas arms, including those in Asia.

    “As we sit here today we believe that we have the right sort of assembly of geographies that we are in,” said Allan.

    “At the moment our intention is to hold what we have and to develop it and make the very best of it.”

    When Tesco’s troubles came to light at the end of last year the company received several opportunistic approaches by parties to buy out the Thai and Malaysian operations. But it ruled out any fire sale at the time and now appears committed to retaining and growing the businesses. The company also has operations in Central Europe and Ireland.

    While Allan conceded he could “envisage circumstances” the company might change its mind, that comment was perceived as a safeguard.

    Selling Homeplus has allowed Tesco to retire about £4.2 billion of its massive £21.7 billion debt mountain.

    The company is still looking for a buyer for its Dunnhumby data business, nine months after it ut the business on the market. Dunnhumby analyses grocery sales data from across the store network and sells it to manufacturers.

    “We have looked at the options around Dunnhumby… We’ve not concluded that. As soon as we conclude it we would announce what it is we intend to do,” CEO Dave Lewis told shareholders.

  • Japan retail sales cause concern

    Japan retail sales cause concern

    Japan retail sales in August rose 0.8 per cent according to official data released on Wednesday.

    That was a full 0.4 per cent – or one third – below market expectations, fuelling concerns about the state of the nation’s fragile economy.

    The figure from the Ministry of Economy, Trade and Industry followed a healthier 1.8 per cent increase in July.

    Once seasonally adjusted, retail sales were flat in August – worse than the anticipated 0.5 per cent increase, and well down on the 1.4 per cent rise of July.

    ‘Large retailers’ reported sales were up 1.8 per cent year on year, near the 2.1 per cent of July and ahead of the forecast 1.3 per cent.

    The only bright news on Japan’s retail sales front in recent month has been the increased spending by Mainland Chinese tourists, opting to take vacations there or Europe instead of their more traditional destination, Hong Kong.

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  • Vietnam retail sales strengthen

    Vietnam retail sales strengthen

    Vietnam retail sales rose 9.8 per cent in the first nine months of this calendar year, underpinning a raft of healthy economic data for the nation released this week.

    Inflation reached zero in August, for the first time ever, which encouraged retail sales growth.

    Gross domestic product rose 6.81 per cent in the third quarter, slightly higher than the second quarter’s revised figure of 6.47 per cent, according to data released by the General Statistics Office in Hanoi.

    Analysts say the both sets of data show signs the overall economy is generally picking up.

    “Vietnam is the only country with strong export growth amid contracting exports among its regional peers,” according to an ANZ Bank research note published this week.

    The nation’s economic growth rate hit 6.5 per cent in the first nine months. Exports rose 9.6 per cent, imports climbed 15.9 per cent and there was a trade deficit of $100 million in September compared with a surplus of $347 million in August.

    The Asian Development Bank forecasts Vietnam’s growth to accelerate during the second half of this year due to rising private consumption, export-oriented manufacturing, and Foreign Direct Investment.

    However, it’s not entirely good news. Huynh The Du, a lecturer at the Fulbright Economics Teaching Program in Ho Chi Minh City warned of the dangers of zero inflation: “It’ll become a challenge for economic expansion later if inflation continues to stay at this slow pace,” he said.

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  • Philippines eyed as shopping hub

    Philippines eyed as shopping hub

    The Philippine Retailers Association (PRA) is teaming up with the Department of Tourism and the Tourism Promotions Board (TPB) to turn the country into a shopping hub in the region by reviving the Philippine Shopping Festival.

    The shopping festival is being held in line with the DOT’s Visit the Philippines 2015 campaign and PRA’s efforts to develop the Philippine retail industry, which contributes about 15 percent to the country’s gross domestic product (GDP).

    PRA president Lorenzo Formoso, who is also chief operations officer of Duty Free Philippines, said the real objective of the Philippine Shopping Festival is to increase awareness of what the country offers in terms of shopping.

    “Before we get into the numbers, we have to be top of mind,” he said.

    Formoso views the years 2015 and 2016 as a “sweet spot” for the retail industry because more Filipinos will be working, which means more consumer spending.

    He said the retail industry can grow even faster than 5 to 8 percent because of the number of malls that are coming up in the next so many years.

    “At least 20 new malls in the next couple of years, that is the minimum. They’re putting up malls in the major cities,” he said.

    The Philippine Shopping Festival 2015 will be held from October 23 to November 8 in line with the PRA’s Asia Pacific Retailers Convention &Exhibition (APRCE) and the Asia-Pacific Economic Cooperation (APEC) events happening in the country.

    It will be a two-week sale where shopping malls and retailers in the Philippines will offer different discounts and promos to entice people to shop.

    He said the shopping festival will not only benefit the retail and tourism industries but also contribute to other industries like hotels and transportation, thereby helping boost the economy.

    Formoso said APRCE expects to attract to the festival some 2,500 foreign and local retailers and executives on top of the 4,000-plus delegates for the APEC and the coming Christmas season.

    He said the event can help to improve tourism although he admitted that tourism numbers did not dramatically exceed the targets as expected because of some problems. Nonetheless, he remains optimistic because tourism spending has increased.

    “Before, tourists stayed here for a three-day stay but now it is six days. That is double.

    Even if we’re looking at five million [tourists], on spending, if you peg it at the average purchase, it gets to be double because of the number of days spent,” Formoso said.

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  • Garuda Indonesia to Launch Promotion on Friday

    Garuda Indonesia to Launch Promotion on Friday

    Garuda Indonesia will launch a three-day online sale on Friday.

    Between 9 and 11 October 2015, discounted airfares to 37 Indonesian destination will be available for travel between 13 October 2015 and 31 May 2016.

    The 7-month validity period offers the perfect opportunity to book and save on fares for short getaways to popular Indonesian hotspots such as Bali. Flights to the scenic island will be on sale from Sin$130 for a one-way flight and Sin$230 for a return, while seats to Surabaya will be available from Sin$110 for a single ticket and Sin$210 for a return.

    Travellers will be able to fly to Indonesia’s capital city Jakarta one-way from Sin$110, with return flights priced at Sin$185.

    Travellers can also take advantage of the online seat sale to discover other interesting Indonesian destinations such as Lombok, Jogjakarta, Makassar and beyond from Sin$180 one-way onwards via Jakarta or Bali.

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  • Now AirAsia can fly again in Japan

    Now AirAsia can fly again in Japan

    AirAsia Japan Co Ltd, which recently reorganised its shareholding structure, has received the air operator’s certificate from the Ministry of Land, Infrastructure, Transport and Tourism.

    AirAsia said in a statement that AirAsia Japan was scheduled to begin operations from its base at Chubu Centrair International Airport in Aichi prefecture to Shin-Chitose Airport in Sapporo, Sendai Airport in Sendai and Taiwan Taoyuan International Airport in Taipei in spring 2016.

    AirAsia group CEO Tan Sri Tony Fernandes said: “We are very excited to be back in Japan. We have fantastic partners here and we are united in the vision to change the way people travel in Japan.

    “Centrair Airport is a fantastic base and with our new routes, we look forward not only to enable the Japanese to enjoy our direct destinations but to connect them to the rest of Asia and beyond on our extensive network.”

    AirAsia first tried to enter the Japanese market by collaboratng with All Nippon Airways Co Ltd (ANA) in July 2011, but AirAsia withdrew from the joint venture in June 2013 due to “different management styles”.

  • Philippines retail to get yearly revenue boost from nationwide grand sale

    Philippines retail to get yearly revenue boost from nationwide grand sale

    Philippine retail will get a yearly revenue boost from the recently launched nationwide grand sale called “Philippine Shopping Festival,” which is being eyed to become a yearly event.

    The Philippine Retailers Association (PRA) and Department of Tourism-Tourism Promotions Board (DOT-TPB) partnered to revive the Philippine Shopping Festival and decided to make it an annual event to make the Philippines a new shopping destination in Asia Pacific region.

    PRA Chairman Roberto Claudio said the Philippine Shopping Festival 2015 will put the Philippine retail close to the sophisticated and globally known shopping industry of Singapore and Hong Kong.

    In Singapore, there is an eight weeks event called Great Singapore Sale, which usually occurs in the last week of May until the third week of July

    An international report showed that shoppers, a mixture of foreigners and locals, had spent a five-year high of US$2.12 billion using their MasterCard cards during the Great Singapore Sale this year.

    To be held on October 23 to November 8, the Philippine Shopping Festival will be a two weeks sale where shopping malls and retailers in the country will offer different discounts and promo to entice people, mostly foreign tourists, to shop.

    Claudio said that the first attempt of PRA to do something like this happened two to three years ago but it wasn’t that successful.

    Now, the group and the DOT are banking on the two big regional events that will happen in the country in November as this year’s major drivers for the festival.

    The events that he was talking about are Asia Pacific Retailers Convention and Exhibition (APRCE) and the Asia Pacific Economic Cooperation (APEC) meetings which will both bring thousands of foreign delegates.

    Claudio emphasized that as per DOT data, each foreign tourist visiting the country allocates a daily shopping expenditure of US$300.

    “Just imagine if thousands of foreign delegates will spend US$300 a day just for shopping,” Claudio said.

    Around 94 malls will be participating in the nationwide grand sale.

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  • International “IoT” Conference In Hong Kong Next Week

    International “IoT” Conference In Hong Kong Next Week

    The Internet of Things (IoT) is regarded as the third technological advancement, after computers and the Internet, which sets a new trend for the ICT industry. Through IoT technology, electrical products gain access to networks, enhance remote capabilities and become “smarter” by integrating various kinds of information and resources via the Internet.

    In view of recent IoT applications and their huge development potential, the Hong Kong Trade Development Council (HKTDC) will organise the “IoT Revolution – How does it benefit your business?” international conference on 13 October. The conference is part of the opening day activities of the four-day HKTDC Hong Kong Electronics Fair (Autumn Edition) at the Hong Kong Convention and Exhibition Centre (HKCEC). International speakers from renowned brands and enterprises including Hewlett-Packard, Intel, Microsoft, Philips, Samsung and Texas Instruments China R&D will share their views on the future trends and applications of IoT.

    Synergy with the Hong Kong Electronics Fair

    “The Hong Kong Electronics Fair (Autumn Edition) is a once-a-year spectacular event for the electronics industry,” said Benjamin Chau, Deputy Executive Director, HKTDC. “Electronics suppliers from all over the world will showcase their most sophisticated technology and electronics products. IoT, as the on-coming wave for the electronics industry, can be a kingmaker that allows suppliers and service providers to seize the opportunity to lead the market. With the fair attracting industry players from around the world, the conference aims to encourage entrepreneurs to grasp the opportunity, and release more advanced and smarter products so as to add value, not just for companies but to also enhance our way of life.”

    Looking to the future of IoT

    The theme of the conference is “Global Trend on IoT Development & the Arising Opportunities”, which introduces the latest developments and applications of IoT technology to the audience. Speakers include Yuki Hon, Senior Technology Evangelist, Microsoft Hong Kong Limited, Ravi Gokhale, Director and Head of Texas Instruments China R&D, and Vivek Sharma, Global Director, Channel Business Development Group, Intel Sales & Marketing Group.

    Ms Hon believes enterprises across nearly every industry ranging from retail, to healthcare and public services can benefit from IoT. “SMEs can build on the infrastructure they already have or subscribe cloud-based IoT services, add more devices to the ones they already own and get more from the data that already exists. By leveraging their existing investment, SMEs can apply IoT with a limited budget,” said Ms Hon.

    In the afternoon, the conference continues with the theme “Future Vision of the IoT”. Senior management from leading enterprises will reveal the future trends of IoT. Speakers include Curtis Sasaki, Vice President of Ecosystems and IoT General Manager, Samsung Electronics, Jo Shum, Senior Director and General Manager, Lighting Hong Kong and Macau, Philips Electronics HK Limited, and Fred Sheu, General Manager, HP Software, Hewlett-Packard HKSAR Limited.

    Mr Sasaki, a renowned speaker on memory and next generation consumer products, says, “Samsung is helping to enable our connected future by providing integrated hardware and solutions like the Samsung ARTIK and Samsung SAMIIO platforms, which jump-starts development for the Internet of Things. The true winners in IoT will be those companies who move quickly, and think ‘out of the box’ about how they can best use these technologies to provide convenience, solve real problems, and make a dent in the challenges of today’s world.”

    Ms Shum explained that the concept of IoT has been applied in lighting systems for a long time, from the initial closed-circuit lighting system connected to other management systems, to the development of a wireless system via the Internet with more functions and applications. Apart from the energy-efficient system, which can turn lights on or off through touch or motion sensors, the new generation of IoT-enabled systems can adjust the light according to the outdoor lighting and the timings of sunrise and sunset. It can even adjust the brightness to match the mood of a video. Nowadays, the IoT-enabled lighting goes beyond home applications and extends to the retail environment and service industry. For example, the light can be adjusted to highlight the special features of the showcased product in retail store.

    Hong Kong companies embrace IoT

    For smart homes with IoT capability, many appliances are connected to the Internet via Bluetooth. Bluegic, a brand under Lincogn Technology Co. Limited, seized the opportunity and developed an app that combines low-power-consuming Bluetooth 4.0 with home electronics. The application of IoT has become the competitive edge for the company. They also won the Silver Award in the Hong Kong IoT Awards 2014 and a merit certification in the ICT Startup (Consumer Market) category of the Hong Kong ICT Awards 2015.

    Ambi Labs, another local company that focusses on IoT, uses the technology to produce smart air conditioning systems. Their flagship product, Ambi Climate, can provide the most suitable air conditioned environment by collecting interior data including temperature, humidity and air ventilation as well as information about outdoor weather conditions. This is used to automatically achieve the optimum setting for the air conditioner. Two local entrepreneurs, Colin Ng, Co-Founder of Lincogn Technology Co. Limited, and Julian Lee, CEO and Founder of Ambi Labs, will share their insights on IoT, based on their start-up experience in the conference.

    Free Admission

    Those interested in joining the IoT conference can register online via the HKTDC Hong Kong Electronics Fair (Autumn Edition) website. Admission is free, and seating will be provided on a first-come-first-served basis.

    Apart from the conference, IoT takes centre stage at the Electronics Fair (13-16 October) with the debut of Smart Tech zone featuring innovative devices ranging from a Hong Kong-designed smart Wi-Fi photo frame, to smart cups that automatically record nutritional information of a beverage. The zone will be located at Convention Hall Foyer and Mezzanine of the HKCEC, close to the IoT conference venue.

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  • JCB Starts Trials of Payment by Palm for Practical Application

    JCB Starts Trials of Payment by Palm for Practical Application

    JCB Co., Ltd. (“JCB”), the only international payment brand based in Japan, will be conducting a trial of payment using palm vein authentication in corporation with Fujitsu Limited and Fujitsu Frontech Limited. The trial will be held at the JCB World Conference in October, an event attended by JCB partner companies and financial institutions from around the world.

    Payment by palm leverages the JCB global network with Fujitsu’s palm vein authentication technology, one of the most accurate biometric authentication technologies in the world. After linking a palm vein pattern and payment card information, customers can make a simple, fast and secure payment by using palm. Multiple cards can be linked to one pattern, and customer does not need to bring his or her wallet or any mobile payment device.

    Palm vein authentication is highly accurate (see “About Palm Vein Authentication”), and already being used for many applications such as bank ATMs and high security area access control systems. Incorporating this authentication method with the JCB global network will create the world’s first payment way of its kind.

    In addition to the trial at JCB World Conference in October, JCB has already conducted a trial of, involving several hundred employees at the JCB headquarters in Tokyo in July 2015.

    “We are planning pilots in different global markets in order to develop a unique biometric-based program using the most secure accurate palm vein authentication, followed by the trial at the JCB World Conference. I am confident that this new payment method using innovative technology will be in line with the needs of JCB customers and partners around the world,” Tac Watanabe, Executive Vice President, Brand Infrastructure & Technologies of JCB, said.

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  • Dell Inc Announces $125B Investment In China, Including Artificial Intelligence Lab

    Dell Inc Announces $125B Investment In China, Including Artificial Intelligence Lab

    Computer manufacturer Dell Inc. will invest $125 billion in China over the next five years, as part of a new strategy to expand in the world’s second-largest economy. The company’s CEO, Michael Dell, said in a statement Thursday that the investment would contribute $175 billion to imports and exports and help sustain one million jobs in the country.

    “The Internet is the new engine for China’s future economic growth and has unlimited potential,” Dell wrote in a statement, cited by Reuters.  “Dell will embrace the principle of ‘In China, for China’ and closely integrate Dell China strategies with national policies,” he added. The company also announced that it would be expanding its research and development team in the country, with a view to producing products tailored to the Chinese market.

    As part of the investment, Dell announced that it will create an artificial intelligence lab, in partnership with the Chinese Academy of Sciences, in the country. Dell will work with the state-controlled institute to develop advanced technology relating to cognitive systems and deep learning. It has also signed a strategic partnership agreement with Kingsoft Corp. of Beijing to co-develop and sell products relating to big data and cloud computing, Bloomberg reported.

    Dell currently has three plants, two service centers and two research and development facilities in China, as well as 11,700 retail outlets, according to China Daily. The company already employs nearly 2,000 senior engineers in its research and development team in China.

    Dell’s investment appears to follow a pattern set by other U.S. tech firms, which have made large investments to win over government and business, and partnered with Chinese firms in a bid to navigate the local market more successfully. Late last year Intel announced an investment in Chinese microchip firms, and Hewlett-Packard announced in May that it would sell a majority stake in its server, technology services and storage business in China to a Tsinghua Holdings subsidiary, IT World reported.

    Dell ranked third in global PC shipments in the second quarter after Lenovo Group Ltd and Hewlett-Packard Co, according to research firm International Data Corp. China is the company’s second-largest market, after the U.S.