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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.

  • Fintech group ayondo launches first product in Singapore

    Fintech group ayondo launches first product in Singapore

    Financial technology group ayondo has partnered with KGI Fraser Securities, a Taiwanese-owned brokerage in Singapore to launch KGI Contrax, which uses ayondo’s platform TradeHub.

    The platform, under a white-label arrangement, allows investors to buy and sell Contract for Difference (CFD). With CFDs, an investor can participate in the future market movements of an underlying asset without actually owning or taking physical delivery of the asset.

    Edwin Lee, Head of Wealth Management, KGI Fraser said: “We are excited about the partnership with ayondo, who brings with them extensive expertise as leaders and pioneers in innovative financial technology. CFDs are well known in Singapore and we believe that KGI Contrax may appeal to many investors because of its ease of use and innovative features.”

    Robert Lempka, CEO and co-founder of ayondo, said: “ayondo’s mission is to revolutionise trading and investing for individual investors. We are already a pioneer and leader in our core markets in Europe and we want to expand into Asia, and in particular in Singapore where you have very tech-savvy people who may be looking for a faster and more transparent way of executing their trades.”

    In addition to the launch of KGI Contrax, ayondo is introducing the concept of social trading to investors in Asia. Social trading is one of the latest growth industries that tap innovative technology to change the way trading and investment services are traditionally provided. This modern way to invest allows retail investors to copy the trading strategies of successful experts at the click of a mouse or a few touches on their mobile devices.

    Those who do not have sufficient time or expertise to trade on their own can automatically copy the performance of the “Leading Traders,”, who share their trading strategy on ayondo and can generate additional revenues from their trading skills.

    ayondo ranks traders over five different career stages, from Street Trader up to Institutional Trader, based on their risk and return profiles. Better risk management and performance will get the trader to the next ayondo career levels.

    Mr Lempka explained: “There have been a lot of discussions about online trading threatening the livelihood of remisiers. We see social trading as a possible way in which remisiers can have a profitable future by signing up to become Leading Traders and even increasing the number of clients or followers they have.

    “ayondo is very well positioned with its business model and scalable solutions. The group already covers a broad spectrum of services in the Finance 2.0 field covering both retail and institutional sectors.”

    Currently, investors who wish to use ayondo’s social trading platform will have to open an account with its London office. ayondo has way over 100,000 users from 123 different countries.

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  • Shenzhen Tong launches NFC transport and payment service in China

    Shenzhen Tong launches NFC transport and payment service in China

    ZTE Nubia Z9 and Z9 Max owners across the Chinese city of Shenzhen can now use a service launched by transportation operator Shenzhen Tong to make NFC mobile payments for public transportation and for purchases in retail stores.

    The company is making use of Oberthur Technologies’ (OT) Pearl secure elements embedded in the ZTE NFC devices for the service.

    “OT provides the Shenzhen Tong applet enabling the service, available from both Shenzhen Tong and Nubia mobile wallets, as well as the connection between the transport operator and the handset manufacturer through OT’s China Secure Hub,” OT says. “Nubia Z9 and Z9 Max owners are now able not only to securely access all public transportation services in Shenzhen, but also pay in retail stores.

    “All they need to do is download the Shenzhen Tong Dianshang application or the Nubia application and Nubia OTA (over the air) service upgrade. Once the corresponding applet is remotely installed on Pearl by OT, users simply have to hold their smartphone near the contactless reader in the bus or the subway or near the contactless payment terminal in stores.”

    “With the Shenzhen Tong smartphone NFC application, we expect to further enhance the experience of our customers in public transportation and in retail shops,” says Wang Dongjun, general manager at Shenzhen Tong.

    “OT is supporting several Chinese public transport operators in major megalopolis like Shenzhen for the deployment of their services on flagship smartphones of various brands equipped with our eSE,” adds Marek Juda, managing director of OT’s connected device makers business.

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  • SM named Philippines’ Top Retailer

    SM named Philippines’ Top Retailer

    In October 1958, SM, then known as Shoemart, was nothing but a lone store along Rizal Avenue in downtown Manila. Fifty-seven years later, it has become a part of the lives of millions of Filipinos across the country and abroad. And with more than half a century of retail experience under its belt, SM Retail once again received the Gold Award as the Philippines’ Top Retailer at the recently held Retail Asia-Pacific Top 500 Awards.

    Each year, Retail Asia Publishing recognizes the largest and most outstanding retail companies in the 14 Asia-Pacific economies. Three retailers stand our from the pack and receive Gold, Silver and Bronze awards. SM Retail has consistently been a Gold recipient, while Puregold Price Club and Mercury Drug Corporation received the Silver and Bronze Awards, respectively.

    Two other companies affiliated with the SM Group, Watsons Philippines and Ace Hardware also received Certificates of Distinction during the awarding ceremony.

    SM Retail received the Gold Award as the Philippines’ Top Retailer during the recent Retail Asia-Pacific Top 500 Awards held recently at the Solaire Resort and Casino. Photo shows SM Retail Chairman Tessie Sy Coson receiving the award from Mr. Douglas Lawson, UnionPay International Southeast Asia’s Head of Regional Products. Each year, three top companies in 14 Asia Pacific economies receive Gold, Silver, and Bronze top retailing awards, with SM Retail consistently a Gold recipient. Two other companies affiliated with the SM Group, Watsons Philippines and ACE Hardware also received Certificates of Distinction during the evening.

    Retail Asia Publisher Andrew Yeo commended the retailers that made it in the Retail Asia-Pacific Top 500 list for having “risen to the many challenges confronting the industry, reviewing and revamping their operation to provide seamless shopping experiences for today’s highly connected shoppers.”

    Since its establishment, SM Store has undergone major transformations to serve a new generation of customers. SM Makati introduced the shop-in-shop concept wherein each category is designed and conceptualized like an individual boutique with its own look and feel.

    Here, elements work together to create a bolder, more innovative kind of retail environment, which highlights and defines the merchandise, engaging the elite customer to experience a new sense of space.

    Apart from the SM Store, SM’s Retail Group also has specialty store formats that serve niche markets by focusing on a wide selection of merchandise for each category. Part of this is the Food Retail Group, which recently unified its three formats – SM Supermarket, SM Hypermarket, and Savemore – under one brand name known as SM Markets to emphasize the group’s commitment to bring the same friendly service, wide selection, and great value across all its stores.

    The Non-Food Group, on the other hand, has store formats including appliance stores, fashion discount and toy superstores, as well as Kultura Filipino, a showcase of the best Filipino products.

    “You have not only proven yourselves to be adaptable and versatile, but also able to win and maintain the critical core value that all retailers must nurture in their drive to win and retain their customers – trust,” said Yeo.

  • Apple’s ‘best year ever”

    Apple’s ‘best year ever”

    Tech giant Apple has reported its fourth quarter results – and concluded its “best year ever”.

    In the three months to September 26, the company achieved sales of $51.5 billion and a quarterly net profit of $11.1 billion. That compares to sales of $42.1 billion and a net profit of $8.5 billion, in the same quarter last year.

    The company’s gross margin was 39.9 per cent compared to 38 per cent a year ago. International sales accounted for 62 per cent of the quarter’s revenue.

    Apples says its growth was fuelled by record fourth quarter sales of iPhones, the expanded availability of the Apple Watch, and all-time records for Mac sales and revenue from services.

    “Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28 per cent to nearly $234 billion,” said CEO Tim Cook.

    “This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams,” he said.

    “We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week.”

    Luca Maestri, Apple’s CFO, said the company’s record September quarter results drove earnings per share growth of 38 per cent and operating cash flow of $13.5 billion.

    “We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program.”

    In the quarter ahead, Apple is predicting revenue of between $75.5 billion and $77.5 billion and a gross margin which could reach 40 per cent.

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  • Vietnam’s Vingroup snaps up local grocery chain

    Vietnam’s Vingroup snaps up local grocery chain

    Vietnam’s largest retail group has snapped up local supermarket chain Maximark.

    Vingroup, whose assets already include 12 Vincom shopping centres with a raft of its own retail brands inside, and 125 VinMart grocery stores, will rebrand the nine Maximark hypermarkets under the VinMart+ name.

    “The acquisition aims at expanding Vingroup’s retail network reinforcing the status of Vietnamese brands to create a counterweight to international brands that are coming into Vietnam,” Vingroup said in a statement.

    The seller is Hanoi-based An Phong JSC which developed the chain from scratch.

    “The nationwide expansion will assist the spread of Vietnamese product brands and help retain their market share, contributing to building the competitiveness of local manufacturers amid an influx of global companies into Vietnam,” Vingroup’s vice chairman Le Khac Hiep said.

    Vingroup plans to operate 40 shopping centres across the nation by the end of 2016 and 100 by 2020.

    In June, Vingroup Retail received a US$100 million private equity capital investment led by Warburg Pincus, to help fund its ambitious retail expansion plans.

    Vingroup Joint Stock Company is Vietnam’s largest publicly-traded real estate operator and one of its largest companies by market capitalisation.

    The Vincom Retail malls are home to more than 700 domestic and international brands, with major tenants such as Robins Department Store, Marks & Spencer, CJ CGV, Mango, DKNY, French Connection, BCBGMaxazria, Karen Millen, GAP, Lacoste, Nike, Adidas, Emigo, VinMart, VinPro and Vinpearl Land.

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  • Allan Zeman calls for overhaul of retail tenant ratio

    Allan Zeman calls for overhaul of retail tenant ratio

    Online sales are contributing to the struggles of the traditional retail industry as much as the slowing economy, Lan Kwai Fong Group chairman Allan Zeman says.

    He said the trend led to the practice of landlords supporting food and beverage retailers with rents from other tenants, the Hong Kong Economic Journal reports.

    As a result, rents have tripled for the latter, Zeman said.

    He blamed the problem on a tenant ratio heavily skewed toward food and beverage tenants — seven for every three other types of retailers.

    Zeman said the ratio should be reversed.

    Zeman has launched LKF Capital, a private equity fund that invests in lifestyle, entertainment and food and beverage brands.

    Meanwhile, he said investors should not be overly concerned about China’s policies, saying these are mostly meant to maintain stability.

    Zeman is frequently invited by Chinese cities to share his experience in turning Lan Kwai Fong, a once rundown pocket of Central, into a success story.

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  • 20 Lotte affiliates meet IPO requirements

    20 Lotte affiliates meet IPO requirements

    The conglomerate has pledged to simplify its governance structure and boost its managerial transparency through a set of measures, including initial public offerings (IPOs), after a bitter family feud over control of the retail conglomerate. Currently, Lotte has eight publicly traded affiliates here, with the key units being linked through unlisted Japanese units.

    According to the data compiled by the Korea Exchange, a total of 20 out of 73 Lotte subsidiaries are eligible for IPOs in the country. The candidates include Hotel Lotte, Lotte Card Co., Lotteria and Lotte Capital.

    Under local regulations, a firm seeking to be listed is required to have a capital base of more than 30 billion won (US$26.5 million), average annual sales exceeding 70 billion won for the previous three consecutive years and a return on equity surpassing 5 percent.

    After the squabble over control of the sprawling business empire, which has a cobweb-like governance structure, Lotte chairman Shin Dong-bin in August expressed his desire to push for the listing of Hotel Lotte, a key affiliate, as part of its reform plan.

    The listing on the local stock market requires stricter regulatory filings while allowing it to seek capital increases, issue more non-voting stocks and reap other benefits that translate into greater business opportunities.

    “As a South Korean company, we will have more of our affiliates go public with a strong will to contribute to the Korean economy,” a Lotte official said.

     

  • Worldhotels Expands the Frontier of Luxury with Sokha Phnom Penh Hotel & Residence

    Worldhotels Expands the Frontier of Luxury with Sokha Phnom Penh Hotel & Residence

    Occupying a luscious spot on the confluence of the Mekong, the Bassac and TonléSap, Phnom Penh is a city that has witnessed extreme ups and downs. Discover an enigmatic kingdom of fabled pagodas, thriving local markets, sweeping French boulevards and eclectic natural beauty with Sokha Phnom Penh Hotel & Residence, the newest addition to Worldhotels’ exclusive collection of 450 independent hotels worldwide.

    Strategically located on Chroy Changvar peninsula opposite the Royal Palace and an estimated 13km from Phnom Penh International Airport, Sokha Phnom Penh Hotel & Residence is an antidote to the chaotic cacophony of the city. With a host of top-notch amenities and exemplary service standards that expand the frontier of luxury, the hotel represents a new standard for five-star hospitality in Cambodia’s capital city. 

    Doorway to a bygone era

    Opportunities for cultural and historical discovery await travellers on Phnom Penh’s centuries-old attraction sites where strains of history combine in a vivid montage of French and Cambodian influences.

    Nearby sites of interest include Wat Phnom, the main temple perched on a grassy hilltop that marks the legendary founding place of Phnom Penh, accessible via a six-minute drive from the hotel. A resplendent symbol of the Kingdom, Phnom Penh’s Royal Palace is a nine-minute drive away. Located just north of the Royal Palace is the National Museum which houses the world’s earliest and rarest archaeological, religious and artistic Khmer artefacts from the fourth to the 13th century.

    From traditional souvenirs to fresh produces, shoppers can purchase a diverse range of merchandise at Phsar Thmey, or Central Market, a unique colonial-style building just a stone’s throw from the hotel. Guests may also embark on historical sunset cruises along the riverfront and contemplate the footprints of different generations that shaped Phnom Penh’s colonial era.

    Commodious accommodations fit for royalty

    Contemporary and bright; airy and inviting, guests will feel perfectly at ease in one of 523 tastefully appointed guest rooms and suites offered across eight categories, including the largest Deluxe room in Phnom Penh. The luxury of space extends to an expansive bathroom with freestanding bathtub and a separate walk-in rain shower.

    Bedecked in a soothing palette of cream and warm tones, most guest rooms afford views of the spectacular Chaktomuk River, or verdant greens that invigorate the senses. Each of these spacious havens features hardwood floors and elegant period furnishings that evoke a timeless refinement, replete with contemporary conveniences including Wi-Fi access, Japanese high-tech washlet, and flat screen LCD TV with international satellite channels. 

    Top-class meeting venues and recreational amenities

    An excellent venue for hosting a year-round calendar of conferences, meetings, private functions and dream weddings, Sokha Phnom Penh Hotel & Residence offers an extensive range of event spaces and meeting facilities including a 2,728 square-metre grand ballroom with a capacity of 3,100, arguably the kingdom’s largest ballroom.

    Eight highly-versatile function rooms – a combination of close to 900 square metres – can accommodate up to a total of 1,050 attendees. Coupled with leading edge audiovisual and modern translation equipment as well as high-speed internet access, the hotel prides itself on putting together events that engage and inspire.

    Sized at 1,650 square metres, the hotel also houses thelargest swimming pool in Phnom Penh that provides stunning views of the river. Among other offerings is a KTV Studio featuring 36 private karaoke rooms and an established night club on the 19th floor overlooking Tonlé Sap and Mekong River, perfect for a sundowner or after-dark entertainment.

    Guests may pick from a complete range of therapies and treatments at Jasmine’s Spawith 17 private treatment rooms for hours of uninterrupted escapism.

    An eclectic mix of international dining

    Sokha Phnom Penh Hotel & Residence invites guests to embark on a diverse gastronomic journey.

    Lotus is an all-day dining restaurant offering a selection of international buffet amidst scenic river views. The China House presents regional Chinese specialties from Guangdong, Sichuan, Hunan and Beijing; while The Bel Cibofeatures culinary presentations inspired by Tuscany and the northern regions in Italy. Also perched on the 19th floor is Takezono, the only “sky-high” Japanese restaurant in Phnom Penh that dishes up authentically prepared and immaculately presented signature Japanese favourites.

    “We are truly honoured to be represented by yet another outstanding property in Sokha Phnom Penh Hotel & Residence. This affiliation will reaffirm the positioning of Worldhotels at the forefront of curating some of the world’s finest hotels and underscore the commitment to growing our portfolio in the Indochina market with surging international interest,” remarks Roland Jegge, Worldhotels Executive Vice President Asia Pacific.

    “We look forward to harnessing our in-depth market knowledge and stellar reputation to win over more travellers with the quality accommodation and personalised service that our collection of hotels have become trusted to deliver – and Sokha Phnom Penh being the answer to the rising demand of today’s travellers’ desire for alluring luxury travel experience.”

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  • Rimowa leads the charge of new luxury retailers

    Rimowa leads the charge of new luxury retailers

    5 Martin Place, Sydney, the new home of German luxury luggage brand Rimowa. Photo: Supplied

    Rimowa, the German luxury luggage group, is set to call 5 Martin Place home as the retail sector looks to the upmarket brands for revenue growth.

    The label is being distributed exclusively through Hunt Leather, which itself has a presence in the MLC Centre.

    Sophie Hunt, whose parents founded Hunt, said the group also runs the Longchamp​ Boutique, of which there are four stores nationally and Hunt’s own five sites throughout Australia.

    Ms Hunt said the group opens a newly branded store in Australia every year and, despite the massive growth of its online business, it still invests in bricks and mortar.

    “Demand is high for luxury brands and over the years that we have stocked Rimowa, we have been pleased with the high turnover of the items,” Ms Hunt said.

    “Finding the right location was imperative to launch the store as a stand-alone and certainly, 5 Martin Place is where we want to be.”

    Ms Hunt said Rimowa is considered a destination brand and the demographics of Martin Place, being in the heart of bankers and lawyers, was the perfect fit.

    “We will be looking to expand and while online sales are strong, having a store is still our preferred option,” Ms Hunt said.

    DEXUS Property is leasing out 5 Martin Place as part of the redevelopment and has also signed up the H&M associate Collection of Style, and the Canadian apparel group Kit & Ace, in what was the former Commonwealth Bank chamber.

    Rimowa’s opening in December – the date is still be decided – comes as luxury retail is making a comeback.

    CBRE  Australia head of retail tenant representation said the country offers significant opportunities for luxury retailers at a time when the Asian market is reaching saturation point.

    In a new CBRE report, The Future of Luxury Retail in Asia Pacific: New Demand Drivers and Shifting Occupier Requirements, it says most major luxury retailers are now well established in Asia-Pacific with China and Hong Kong being two of the most penetrated markets at 89 per cent and 81 per cent respectively.

    “However, following several years of rapid expansion, these markets are approaching saturation point and several luxury brands have halted expansion amid sluggish sales,” the report says.

    “Conversely, the penetration rate of luxury retail in Australia is just 50 per cent – primarily due to the dominance of department stores in this segment of the market.”

    However, the tide is shifting, as luxury brands launch stand-alone stores in Australia to exert stronger control over their business operations and brand.

    In 2014, a total of 16 luxury retailers entered Australia or opened their first stand-alone store in five cities – double the total in 2012 and 2013 combined.

    “Australia, unlike much of Asia, is far from saturation point in terms of luxury retailing,” Mr Starling said.

    “At present we are witnessing the largest influx of new luxury brands in the country’s history. This is coming from two distinct sectors, with fashion/ready-to-wear and jewellery retailers being the most inquisitive.”

    Mr Starling said the inquiry was being driven by larger groups such as LVMH, Kering Group and Richemont, but brands such as Valentino and Moncler also had Australia on the radar.

    “Another trend we are witnessing involves brands being more willing to seek space in shopping-centre environments,” Mr Staring said.

    CBRE national director retail services Alistair Palmer said a new luxury precinct was also poised to open Pacific Fair on the Gold Coast in 2016, and Chadstone was planning to double its luxury offer.

    An increase in Chinese tourist arrivals was helping to support the luxury retail sector in Australia, Mr Palmer said, particularly in light of the fall in the Australian dollar.

    “Sydney Airport is also establishing a new luxury precinct, with many of the tier 1 and affordable luxury brands opening in order to capture the Asian tourist market,” he noted.

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  • BART drawing hip retail, service outlets into stations

    BART drawing hip retail, service outlets into stations

    A Blinq concierge desk at the Montgomery BART station in downtown San Francisco, Calif., is prepared Thursday afternoon, Nov. 5, 2015 for opening later this week. The company will be offering dry cleaning, groceries and “new products and cultural finds.”

    Friday heralds the appearance of a kinder, hipper outpost of commerce in BART’s fusty, decades-old stations as the transit agency welcomes kiosks purveying groceries, dry cleaning and a changeable array of offbeat, with-it products.

    Blinq, billing itself as an online-to-offline retail organizer, is opening the doors of what it calls “pods” in the concourses of the Embarcadero and Montgomery stations to entice BART’s thousands of daily commuters with “new products and cultural finds.”

    “For instance,” Blinq marketing chief Saf Elmansour said, the company “will provide farm-to-table food 20 to 50 percent cheaper than Whole Foods. We’ll bring the actual farmers in.” That would be Grubmarket, an online purveyor of locally sourced fresh foods and other products delivered to customers’ doors and now to BART stations.

    Saf Elmansour prepares a Blinq pop-up retail space in the Montgomery BART station in downtown San Francisco, Calif.,Thursday afternoon, Nov. 5, 2015. TheSaf Elmansour prepares a Blinq pop-up retail space in the Montgomery BART station in downtown San Francisco, Calif.,Thursday afternoon, Nov. 5, 2015. The shop, as well as one at the Embarcadero station, open later this week. The company will offer dry cleaning, sell groceries and “new products and cultural finds.”

    Also selling in the pods will be EO, a Marin County-based manufacturer of organic and natural personal care shampoos and soaps; Sol Republic, a maker of headphones and speakers; and Greener Cleaners, an eco-friendly dry cleaner.

    Blinq plans to feature other products in pop-up spaces for a few months each.

    Next in line for the pods and pop-ups are the Civic Center station in San Francisco, the 12th and 19th Street stations in Oakland, and downtown Berkeley. All are to open by the end of the year, he said.

    The new kiosks may offer delectable edibles, but BART’s policy of no food or drink on trains has not changed.

    Blinq will staff concierge services such as dry cleaning, grocery delivery and pickup in one part of the pod. On the other side will be the pop-up brands that Blinq and its leasing agent, SRS Real Estate Partners, will seek out and change out with three- to nine-month leases.

    “We want to change the experience,” Elmansour said.

    Another experience, he said, will be products and services matched to the neighborhoods and cultures around the stations. For example, Blinq’s Mission Street station pod will be different from Walnut Creek’s, he said. The pods also will feature video screens with BART train times, and a mobile app will note events in station neighborhoods.

    “People will be able to use Blinq to take care of errands, access exclusive deals and giveaways, and discover great brands and local community events,” according to a news release.

    Blinq CEO Alexis Wong is said to have sought to recreate the experience of urban transit in Hong Kong, where she grew up. Stations there were also hubs of local goods and services.

    “We think this combination of experiences, shopping and community is the future of the metro hub,” she said.

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  • PAL, Air Asia cancel 300 flights for Apec

    PAL, Air Asia cancel 300 flights for Apec

    The country’s flag carrier Philippine Airlines (PAL) and Air Asia Philippines cancelled nearly 300 domestic and international flights in anticipation of disruptions in runway operations on the week of the Asia-Pacific Economic Cooperation (Apec) Summit.

    In an advisory, PAL announced it was grounding 115 domestic and 96 international flights from Nov. 15 to 20 “to give way to the arrival and departure of Apec leaders.”

    The Manila International Airport Authority (MIAA) had announced periods of temporary runway closure at the Ninoy Aquino International Airport as part of the protocol for the arrival and departure of world leaders.

    Heads of state are expected to arrive on Nov. 16 and 17 for the summit which will be held on the 18th and 19th. They are expected to leave Manila on Nov. 19 and 20.

    “PAL assures affected passengers that the airline will reschedule their flights with rebooking and penalty charges waived,” the advisory said.

    Likewise, passengers with confirmed flights on Nov. 15, 16, 17, 18, 19 or 20 have the option to rebook within 30 days from their original schedule “for as long as the new schedule falls within the ticket validity period.”  They can also refund the full  ticket cost.

    PAL said that it may cancel more flights depending on the flight movements of the heads of state attending the summit.

    Meanwhile, Air Asia cancelled 74 domestic and 10 international flights from Nov. 17 to 20, also to give way to the arrival of heads of state.

    The airline gave passengers on the cancelled flights the option to rebook within 30 days of the date of their original flight schedule or get a refund.  Affected flyers may also avail of a credit shell within 90 days of the cancelled flight.

    A credit shell, according to Air Asia, is “a credit account where monies paid towards a booking  are stored.” The number issued, which is practically the booking number, in a credit shell account that may be used by passengers to transfer flights.

  • JC Decaux launches new digital signage network at Singapore mall ION Orchard

    JC Decaux launches new digital signage network at Singapore mall ION Orchard

    JCDecaux Singapore, the Best Out Of Home Media Company in the republic and subsidiary of the No.1 Outdoor Advertising Company in the world announces the launch of a brand new Digital Advertising Network at ION Orchard, Singapore’s prime retail and lifestyle destination.

    Following the successful launch of the “Digital Fashion Network” in July, JCDecaux unveils a new Network of 80-inch digital screens in the mall, packaged as the “Premium ION Link Digital Network”.

    ION Orchard

    Located at key touch points along the busiest linkways of Orchard Road, the brand new Network comprises of 9 screens unmissable to shoppers and train commuters passing by. As the exclusive media platform within the linkway, “ION Link Digital Network” is a unique opportunity for brands to effectively cover 100% of the audience. Maiden advertisers H&M, Juicy Couture and PuTien commenced advertising at this prime location.

    In addition, JCDecaux has completed its second phase of upgrading work, increasing the screen size of the “Digital Lift Lobby Network” from 19” to 24”. This network comprises 34 LCD screens installed across all Lift Lobbies and is the only media solution covering the eight levels of the award winning mall. Acuvue and Moncler are currently running their campaigns on the Digital Lift Lobby Network.

    “The new installations at ION Orchard Link delivers a high quality digital advertising footprint to the former Orchard Underpass through which more than half a million people pass every week” said Mr. Ashley Stewart, Managing Director, JCDecaux Singapore.

    “ION Orchard Link serves as a vibrant underground retail walkway that extends the mall’s current retail offerings. As our second underground link after ION Paterson Link, this high-traffic walkway provides shoppers and commuters with quick and easy way to access ION Orchard. We are certain that the new ION Link Digital Network will serve the latest trends and offerings, lending a lifestyle dimension to this fast-paced location and will enhance the overall shopper and commuter experience.” said Mr. Chris Chong, Chief Executive Officer, Orchard Turn Developments.

  • Restaurateurs see opportunities in Hong Kong as retail rents slip

    Restaurateurs see opportunities in Hong Kong as retail rents slip

    After waving goodbye to the boom in mainland Chinese arrivals, Hong Kong’s retail leasing market is refocusing on broad-based, local consumption, including food and drink.

    Hong Kong shopping streets are changing as luxury shops, including watch, handbag and jewellery retailers, close stores, and restaurateurs see opportunities.

    “New dining brands entering Hong Kong in the past year were pretty successful,” said Helen Mak, retail services group head at Colliers International. “Celebrity chefs like Gordon Ramsay and Jamie Oliver have just opened their second restaurants in Hong Kong recently.”

    Hong Kong retail sales fell for six straight months to the end of August as mainland tourists spent less. Luxury retailers have been scaling back their operations as a result. New dining brands entering Hong Kong in the past year were pretty successful.

    According to data from DTZ, in the first eight months of this year high street rents declined by 29 per cent year on year in Causeway Bay and by 34 per cent in Tsim Sha Tsui.

    In September, cosmetics retailer Colourmix paid 60 per cent less than the former tenant, luxury Swiss watch brand Jaeger-LeCoultre, to take its space in Causeway Bay’s Russell Street, one of the most expensive shopping strips in the world.

    High street rent in Hong Kong’s four top shopping districts, including Causeway Bay and Tsim Sha Tsui, surged as much as 213 per cent from 2003 to 2014.

    “Restaurant rents are much more stable than storefront luxury shop rents,” said Kevin Lam, DTZ’s head of business space. He said restaurant rents in the four top shopping districts had grown by an average of about 10 per cent a year since 2010.

    “Dining out is already an integral part of Hong Kong culture and Hong Kong people love to welcome food from different countries,” Mak said. “Even for mainland visitors, they may shop less but they won’t give up the food experience in Hong Kong. The future of dining business is promising here.”

    She said many dining brands outside Hong Kong, including some from Europe, the United States, South Korea and mainland China, wanted to expand here and were looking for places to rent. Popular mainland hotpot brand HaiDiLao is among them.

    “Shop owners used to be too reliant on luxury shops,” Mak said. “Now we finally have a supply of spaces for other business.”

  • Thai events organiser taps into Myanmar’s showbiz potential

    Thai events organiser taps into Myanmar’s showbiz potential

    Co-chief executive officer Kriangkrai Kanjanapokin said yesterday Myanmar was transforming into a new era of development that needed infrastructure, real-estate projects, accommodation and transport.

    This presented a huge opportunity for foreign investors, including Thai enterprises.

    Through its joint-venture company ICVeX based in Yangon, Index Creative Village will next year hold “Myanmar FoodBev” and “Myanmar Retail Expo” from August 18-20 and the third edition of “Myanmar Build and Decor”, from October 6-8 at Myanmar Event Park, which is owned and managed by business partner Forever Group.

    Kriangkrai said the construction industry in Myanmar was growing fast, with a compound average growth rate of 20 per cent. The residential and infrastructure sectors comprise almost 80 per cent of the industry, especially residential projects, which account for 49 per cent of investment value.

    According to the Myanmar Department of Human Settlement and Housing Development, only 7,000 houses are currently being constructed but annual demand appears to be around 20,000 units. The government has indicated its willingness to cooperate with the private sector in the construction industry in key cities such as Yangon and Mandalay while carrying out construction in other areas of the country using government loans.

    “We hope that ‘Myanmar Build and Decor’ will be a platform that enables Thai companies related to the construction industry to meet local developers for greater cooperation,” Kriangkrai said.

    He also said there were lots of opportunities for retail business, which was being transformed from traditional to modern trade.

    To cash in on this transformation, major retailer Siam Makro is reportedly keen on expanding its business in Myanmar.

    However, Kriangkrai believes that traditional shops will also look at improving their service with new equipment and management systems from Thai companies on display at Myanmar FoodBev and Myanmar Retail Expo.

    Apart from trade fairs, the company has also formed a joint venture with Suravath Pinsuwanbutr, the owner of Myanmar Alliance Travel and Tours, to offer marketing service for brands and products.

    This service includes organising direct marketing, product demonstrations at points of sale, on-the-ground event and lucky draws.

    Suravath said that after operating for two months, the JV had secured seven or eight projects. The tourism business is another area that Index Creative Village wants to focus on in the near future.

    After entering a partnership with Bagan Myanmar, a travel and hotel operator, the company invested Bt50 million on light and sound equipment for the “Dandaree” cultural show. Kriangkrai hopes the show will hit break-even point within four or five years. Next year, he plans to introduce this show to international tourism operators at the “Asia Tourism Forum” in the Philippines, “ITB Berlin” in Germany and “World Travel Market” in Britain.

    He said he was in talks with another company based in Yangon that is keen on a similar cultural show.

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  • SingPost’s Q2 profit up 38.5% at S$53.4 million

    SingPost’s Q2 profit up 38.5% at S$53.4 million

    Postal services firm Singapore Post (SingPost) yesterday reported a 38.5 per cent surge in net profit for its fiscal second quarter, boosted by divestment gains and continued growth in its logistics and e-commerce businesses.

    Net profit amounted to S$53.4 million for the three months ended Sept 30, up from S$38.6 million in the corresponding period a year earlier, SingPost said. Revenue increased 19.4 per cent year-on-year to S$263.2 million.

    The nation’s postman said revenue from its traditional mail business dropped by 5.6 per cent year-on-year to S$116.5 million, following the divestment of DataPost. Excluding the impact of the divestment, mail revenue remained stable, said SingPost.

    Logistics revenue rose by 43.3 per cent to S$156.1 million on the back of growing contributions from e-commerce activities and the inclusion of new subsidiaries. Revenue from the retail and e-commerce segment was 7.1 per cent higher at S$23.9 million.

    SingPost chief executive Wolfgang Baier said the company will continue its push into the two areas of logistics and e-commerce to drive growth. “Mail volumes are coming down domestically and regionally, and we look at other fronts to compensate,” he said.

    Last week, SingPost unveiled plans to develop, by mid-2017, a S$150 million e-commerce retail mall, a Singapore first that will combine bricks-and-mortar shops and online shopping.

    Other key developments in recent months included Alibaba buying an additional 5 per cent stake in SingPost for S$187.1 million to raise its shareholding to 14.5 per cent. The Chinese e-commerce giant also announced it would invest up to S$92 million for a 34 per cent stake in Quantium Solutions International, a SingPost subsidiary that provides e-commerce logistics in the Asia-Pacific region.

    In September, SingPost used a drone to deliver a packet containing a letter and a T-shirt from Lorong Halus to Pulau Ubin in about five minutes.

    It said the trial marked the first time a postal service in the world had successfully used an unmanned aerial vehicle for “point-to-point recipient-authenticated mail delivery”.

    In October, SingPost entered into conditional agreements to acquire majority stakes in logistics provider Jagged Peak and end-to-end e-commerce firm TradeGlobal Holdings for about S$22.5 million and S$236 million, respectively. “As SingPost continues its transformation to build a strong second wing in the e-commerce logistics space, the focus in the coming months will be on post-merger integration and extracting synergies from its new acquisitions,” the group said.

    SingPost shares fell 0.3 per cent to close at S$1.89 yesterday ahead of the results announcement. Angela Teng