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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.

  • Indra Philippines mulls tie up with Indonesia’s Salim Group

    Indra Philippines mulls tie up with Indonesia’s Salim Group

    Tech company Indra Philippines Inc is mulling business expansion in Southeast Asia with a possible tie-up with the Indonesia-based conglomerate Salim Group, reports said.

    Avionics and air defense radar systems are some of the main business targets of Indra in the region, according to Manuel Pangilinan, chairman of the Metro Pacific Investments Corp (MPIC).

    Headquartered in Jakarta, Salim Group has subsidiaries operating in agribusiness, food, distribution and retail, telecommunications, automobile, building materials, infrastructure, real estate, hotels and resorts, banking and financial services, international trade, including chemical manufacturing.

    Only last week, MPIC bought a 26 per cent stake in Indra from its unit the Manila Electric Company (Meralco) for $7.1 million, reducing the latter’s ownership to 24.95 per cent.

    Indra has worked on a number of large systems projects for various MPIC portfolio companies. MPIC is now seeking to further commercialize the expertise developed as part of these projects.

    Indra is a joint venture between Meralco and Indra Sistemas SA of Spain. It has been operating in the Philippines for the past 18 years as provider of information technology solutions to various businesses and industries with engagements in utilities and telecommunications, financial services and public administration.

    The company offers its customers management solutions – consultancy, project development, integration and implementation to IT outsourcing, and business process outsourcing (BPO).

    MPIC and Meralco’s last trading prices remained at P5.07 and P308 since Friday.

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  • Dollar drops against yen as risk-off mood persists

    Dollar drops against yen as risk-off mood persists

    The dollar weakened against its main rivals Wednesday after a spate of weak economic data and the Federal Reserve’s Beige Book painted a troubling picture of the U.S. economy.

    The ICE U.S. Dollar Index DXY, +0.12% a measure of the dollar’s strength against a basket of six rival currencies, was down 0.5% to 94.2800.

    U.S. producer prices fell 0.5% in September, outpacing an expected decline of 0.2% from a survey of economists conducted by MarketWatch, while retail-sales increased by just 0.1% in September. A measure of retail sales in August was revised lower to show no change.

    The Fed’s Beige Book, a collection of anecdotes from business leaders in each of the Fed’s 12 regions, indicated some slowing in the economy.

    Emerging-markets currencies also put in a strong performance Wednesday, with several — including the Brazilian real USDBRL, -0.0525% South African rand USDZAR, -0.2130%  and the Turkish lira USDTRY, -0.0686% — rising nearly 2% against the dollar.

    “The combination of [the retail sales and PPI] and the pretty awful data we’ve seen thus far in September is pushing back when the Fed will hike, lowering the odds of December and raising the odds of 2016,” said Mark McCormick, a global FX strategist based in New York.

    The U.S. currency was slightly weaker against the euro EURUSD, -0.0349% which rose to $1.1473, up 0.8% from $1.1378 late Tuesday in New York — its highest level since Sept. 18, according to FactSet data.

    The greenback USDJPY, +0.25%  was at ¥118.75, down 0.8% from ¥119.74 Tuesday, its weakest level since Oct. 2.

    Concerns about stubbornly low inflation and deteriorating jobs growth caused two voting members of the Fed’s rate-setting committee — Fed Governors Lael Brainard and Daniel Tarullo — to warn against a premature rate increase during speeches earlier this week. While Brainard refused to speculate about timing, Tarullo said outright that he doesn’t expect the Fed to hike in 2015.

     

  • Manny Villar eyes expansions in retail, real estate

    Manny Villar eyes expansions in retail, real estate

    Former Senator Manny Villar is all about business these days.

    Villar said his company will continue to expand into the retail industry, seeing it as an integral part of the firm’s business model.

    As chairman of MBV Retail, Villar has launched a convenience store, department store, and housing goods store under the “All” brand.

    “We have entered in a big way into retail because we feel that retail and malls, they go together. We are very happy with the results, and we are encouraged by the results,” Villar told ANC’s Cathy Yang in an exclusive interview at the sidelines of the Forbes Global CEO Conference in Solaire.

    MBV Retail was formed in 2013 to carry the brands All Shoppe, All Home, and All Day, which is the only local player in a very competitive convenience store business.

    “Family Mart, 7-Eleven and Mini Stop are Japanese brands, but the only Filipino brand is All Day. And I’m very proud of that,” said Villar.

    Villar is also chairman of property firm Vista Land, which he also expects to continue expanding its reach.

    He said that from the current 92 cities and municipalities nationwide, Vista Land is looking to expand its presence to 120 cities and municipalities.

    “There’s no limit as to how far we can go,” he said.

    Villar believes that 2015 will continue to be a banner year for the property industry in the country.

    “I don’t see any change in 2015, there are challenges though. The world market is not as stable now, with what’s happening to China, and capital markets. But the Philippines is doing OK, since we’re in the Philippines, we’ll be OK,” the former senator said.

    Villar is the 13th richest man in the Philippines with a net worth of $1.5 billion. His wife, Cynthia, took his place in politics, something the former Senate president said will not be part of his plans in the near future.

    “I’m happy where I am now, I’m enjoying business. You can still do public service while in business, that’s what I discovered. That makes me happy,” he said.

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  • APAC airports rank top for international traffic

    APAC airports rank top for international traffic

    For the first time in 2014, Asia Pacific’s airports collectively qualified as the world’s number one region for commercial passenger air traffic, handling 2.3bn passengers in 2014 and leaving second-ranked Europe trailing with ‘just 1.8bn’, according to Airports Council International (ACI).

    However, DF&TR industry executives know only too well that dynamic spending patterns at airports are not always ‘guaranteed’ by sheer passenger numbers, especially considering the multiple factors that can adversely influence customer spending.

    As Asia’s leading airport with a 6.1% rise to 62.9m international passengers last year, Hong Kong International Airport (HKIA) appears to be doing reasonably well however.

    It has continued to see healthy HY1 traffic growth to 33.6m to the end of June 2015, but there is certainly concern, as downtown retail sales of luxury goods to previously high-spending Chinese visitors fall dramatically.

    While Hong Kong Airport is also expanding with its Midfield Concourse, due to open at the end of this year, so is Asia’s second biggest airport at Changi in Singapore.

    Last year, Changi’s traffic grew by just 1% to 53.2m, but its shops generated retail sales of more than S$2bn ($1.50bn) in 2014 from an average of over 120,000 transactions a day, according to Lim Peck Hoon, Executive Vice President Commercial, Changi Airport Group (CAG).

    This was achieved from a total of 54.1m passengers, corresponding to a marginal 0.7% rise on the 2013 number, reflecting CAG’s cautionary comments last year that it was expecting slower traffic growth this year.

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  • Lotte chief unseated from group’s virtual holding firm

    Lotte chief unseated from group’s virtual holding firm

    In a hastily arranged shareholder meeting in Japan, Lotte Group Chairman Shin Dong-bin lost his seat on the board of Kojunsha, which is at the apex of the group’s entire governance structure, with a 28 percent stake in Lotte Holdings, the group’s holding firm, according to his elder brother Shin Dong-joo, who owns a 50 percent stake in the Japanese package manufacturing firm.

    The group’s business spans from luxury hotels to amusement parks, mostly located in South Korea and Japan.

    Dong-bin has a 38.8 percent stake in Kojunsha, and their father and group founder Shin Kyuck-ho owns 0.8 percent.

    But Lotte Group said earlier even if its chairman were to be removed from Kojunsha’s board, it would have little impact on the group management.

    Lotte Holdings is 28 percent owned by employees, 20 percent by affiliates and 11 percent by special investment vehicles.

    Lotte, a retail giant, has been mired in the family squabble involving the founder and his two sons, who are sparring to bolster their grip on the group.

    In August, Dong-bin bagged a landslide win at a shareholders meeting for Lotte Holdings, in what was thought to be the end of the family squabble.

    Last week, Dong-joo said he will lodge suits against his younger brother to regain the helm of the group.

     

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  • Sydney hosts Indonesia AirAsia X

    Sydney hosts Indonesia AirAsia X

    Sydney Airport has welcomed low-cost carrier Indonesia AirAsia X for the first time, as the airline launched its five-weekly Sydney-Bali (Denpasar) service.

    “We’re pleased to welcome Indonesia AirAsia X to Sydney, providing more choice for Sydneysiders travelling to Bali, as well as greater connectivity to Indonesian and Asian destinations from the airline’s Bali hub,” Sydney Airport managing director and chief executive officer Kerrie Mather said.

    “We’re thrilled that Sydney Airport is now the world’s leading low-cost long-haul airport, with five international low-cost long-haul carriers.”

    Bali is Australia’s largest outbound leisure market. Around 416,000 Australians travelled from Sydney to Indonesia in the 12 months to July 2015, an increase of eight per cent on the prior corresponding period.

    “More than 555,000 passengers travelled between Sydney and Indonesia in the past year, and this new service will significantly increase capacity to one of Sydney’s favourite travel destinations in time for the summer holidays,” Ms Mather said.

    Indonesia AirAsia X CEO Dendy Kurniawan, who touched down in Sydney on the inaugural flight, operated by an A330-300 aircraft, said that Australia is an important market to Indonesia AirAsia X and the airline is committed to further strengthening its presence in Australia.

    “We are delighted to serve direct flights between Bali and Sydney, providing Sydneysiders the opportunity to explore Bali and beyond at affordable fares. From Bali, our guests can fly onwards to many exotic destinations within Indonesia such as Jakarta, Bandung, Surabaya and Yogykarta,” Mr Kurniawan said.

    Indonesia AirAsia X is the fourth airline servicing the Sydney-Bali route

  • Walmart China partner sells out

    Walmart China partner sells out

    Walmart China’s local business partner wants out of its joint venture.

    State-backed China Resources Group has put the minority interests it has in 21 Walmart China stores on the market, seeking US$525 million. Most of the interests equate to about 35 per cent of the respective stores.

    China-based spokesman for Wal-Mart David Fu confirmed the sale in an email to Reuters. He said the firm respected the “investment decision” of its partner.

    “Wal-Mart believes that the transfer of minority interest will not influence Wal-Mart’s operation and development in China,” he said.

    The affected stores are located in various parts of China, including the western Sichuan province and the capital city Beijing.

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  • Iconic Bangkok market faces bulldozers

    Iconic Bangkok market faces bulldozers

    Famous Bangkok market Saphan Lek is to be destroyed by order of the city’s Metropolitan Administration.

    According to reports, stallholders have just 15 days to pack up and vacate before authorities force their removal. It alleges the market has caused “water management issues” for the whole city.

    Popular with students, locals and tourists alike for products as diverse as computer games, imported toys and fresh foods, the market is one of a string closed down in recent years as city officials try to “clean up” the town’s waterways and streets.

    Authorities have told traders from Saphan Lek and another recently closed market Khlong Thom – that they can relocate to other locations at SC Plaza Mall near the Southern Bus Station and Chulalongkorn University. But traders are unenthused – and shoppers, especially students – say other locations are too far away to travel to.

    “The canal is part of Bangkok’s water system. It is 20 metres wide and two kilometres long. It connects to all the other canals on the system,” Pol Maj-Gen Wichai Sangprapai, an adviser to the Bangkok Governor said, defending the decision. “These people have built into the canal with metal and concrete, which obstructs the flow of water.”

    Described in some media as “an Aladdin’s Cave’” of electronics and games well know among regional tourists, the 50 year old market is located in the heart of ‘old city’ Bangkok.

    It’s name, which translates to “metal bridge” refers to its construction over a canal.

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  • Judges ready and excited for Thailand’s first Entrepreneur Now Awards 2015

    Judges ready and excited for Thailand’s first Entrepreneur Now Awards 2015

    The winners of Thailand’s very first Entrepreneur Now Awards (ENA) 2015 are soon to be announced and the judges are now faced with the daunting task of selecting the winners from over 100 nominations.

    The winners will be announced on November 17th at the ENA Awards Night at Four Points By Sheraton Bangkok.

    The ENA is the brainchild of Pacharee Pantoomano Pfirsch, founder of Bangkok Now (BNOW), one of Bangkok’s networking communities. Pacharee is also an entrepreneur and co-founder of Brand Now, a boutique marketing and PR company based in Thailand.

    “I am honored to have such a prominent panel of judges from the local and international business community, many of who are entrepreneurs with years of experience,” said Pacharee.

    “We have such a wide spectrum of both Thai and foreign nominees from various industries, making the selection of winners a challenging feat,” pointed out Pacharee, adding that the entry deadline for ENA had to be extended by two weeks due to overwhelming response and the high level of interest.

    Through ENA, Pacharee wants to recognize Thai and foreign entrepreneurs operating in the Kingdom of Thailand, as Thailand opens its doors to ASEAN Economic Community (AEC).  The award’s objective is to promote entrepreneurism, attract investors to Thailand and the ASEAN region, and revitalize the Thai economy and the SME sector.

    Judges include Pawoot Pongvitayapanu, Managing Director of founder of Thailand’s largest e-commerce service Rakuten TARAD Co., Ltd serial entrepreneur Fred Mouawad of Synergia One group of companies, Paul Robere, Managing Director of quality management consulting firm Robere & Associates, Lay Cheng Tan, Programme Officer at UNESCO, Michael I. Waitze, Managing Partner, Asia at ventureLab Growth Partners, Juthasree Kuvinichkul of GrabTaxi Thailand and   Conor Bracken, Founder and CEO of localization company Andovar.

    The ENA also hopes to champion the entrepreneurial spirit, cultivate the entrepreneur culture and support the eco-system to sustain it.

    The ENA is a great opportunity for entrepreneurs to highlight their creations and gain recognition for their achievements, said Pawoot, who also serves as ENA’s honorary advisor.

    “Innofficiency is the key to entrepreneurism. This term is derived from the words Innovation and Efficiency. Entrepreneurs are not only creative, but also possess great management skill that leads to efficient management. Entrepreneurs should also think beyond profits and create something that can make a difference in the world while at the same time, pursing their passion,” explained Pawoot.

    The judges applaud the ENA project for its recognition program and for focusing on the achievements of specific individuals and their contributions to the world of business and their society.

    Paul Robere and Fred Mouawad added that the ENA was a wonderful opportunity to recognize, encourage, and promote entrepreneurs in Thailand.  “There is no better way to build the start-up ecosystem than by encouraging budding entrepreneurs to interact, learn, and get inspired by their peers.  Success breeds success, and ENA is a boost to the entire ecosystem of entrepreneurs,” said Fred.

    This was echoed by venture capitalist Michael I Waitze, who added that the entrepreneurial and start up ecosystem is moving from a disjointed collection of participants to a connected group of professionals.  UNESCO’s Lay Cheng observed that globally, entrepreneurship is attracting a lot of attention from policy makers, educators and particularly among the young people, who are drivers of economic growth and innovations.

    Speaking from personal experience, Conor Bracken pointed out that a successful entrepreneurial ecosystem requires more than good ideas and talent. Access to capital and credit, infrastructure, and mentors are equally important.

    “The ENA is a great initiative to promote the ecosystem, providing entrepreneurs with opportunities to learn, fine-tune their business models and open more doors toward their goals,” added GrabTaxi Thailand’s Juthasree Kuvinichkul.

    The nominees will be judged on the following criteria: uniqueness, vision and potential growth, value in Thailand & ASEAN, eco-sustainability, striking achievements and how they overcame challenges.

    A total of 11 awards will be handed out to the following categories: Most Outstanding Male / Female Entrepreneur, The Eco Entrepreneur, The Creative Entrepreneur, The Social Enterprise Entrepreneur, Student Plan,  The Exceptional ASEAN/Foreign Owned Company, The Exceptional Thai Owned Company, The Most Entrepreneurial Team, SME (30 to 100 employees) and Micro Enterprise (less than 30).

    Sponsors for ENA include Thai AirAsia X, Acer, YouGov, Big Picture, Avon and Brand Now.  Partners include the American Chamber of Commerce in Thailand (AMCHAM), Bangkok Entrepreneurs, Bangkok University, Irish Thai Chamber of Commerce, Thai-Italian Chamber of Commerce and UNESCO. Class Act Media is the media partner and Friends include Busy Bees @115, Kliquedesk, ONEDAY, 63 Bangkok and The Hive Bangkok.

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  • AirAsia Japan granted Air Operator’s Certificate

    AirAsia Japan granted Air Operator’s Certificate

    AirAsia Japan Co., Ltd. (CEO: Yoshinori Odagiri) recently announced that the airline has been granted the Air Operator’s Certificate by the Civil Aeronautics Act by Ministry of Land, Infrastructure, Transport and Tourism, under the air transport business, Japanese Aviation Law Article 100.

    AirAsia Japan is scheduled to commence operations from their 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 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.”

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  • Nestlé warns against China’s dreary economy

    Nestlé warns against China’s dreary economy

    Nestlé just became the fourth major Western brand in the past two weeks to report dreary Chinese sales during the year so far.

    According to the Swiss food and drink colossus, sales in the Asia, Oceania, and sub-Saharan Africa regions fell by 3.1%. A “slower sales recovery in China” took part of the blame.

    Overall sales dropped 2.1%, and the company’s stock opened Friday down by about 3%.

    But it’s not the first company to report dreary sales in China in October — and that says something worrying about the country’s economy.

    The Indian-owned UK carmaker Jaguar Land Rover described “continued accelerated slowing of economic conditions in China,” paired with damage to 5,800 cars stored at Tianjin during the colossal chemical explosion at the port. Sales of Jaguar Land Rover models slumped by 32% in China.

    Yum Brands also struggled to market KFC and Pizza Hut in China. KFC sales rose by only 3% year-on-year, and Pizza Hut sales actually fell by 1%. In a country where economic growth is apparently close to 7%, that’s a pretty miserable performance.

    On Thursday, Burberry also reported on discouraging Chinese sales, with overall revenue from the country falling and the share price of the luxury-clothes brand falling 16% at Thursday’s open.

    Nothing much connects KFC, Pizza Hut, instant coffee, Burberry scarves, and Land Rover cars — some products are pitching themselves at China’s growing middle class, while others are focused very much on the most elite sliver of society. Consumption fell or was weaker than expected across the board.

    It’s not all doom and gloom; there have been some positive indicators. Retail spending during China’s Golden Week holiday still surged, rising 11% on the previous year.

    A note from Goldman Sachs also said that while industrial commodities like iron ore and copper had seen their prices plunge, consumer-focused commodities like gasoline (and coffee) had seen rising demand in China over the past year.

    Analysts at the investment bank Jefferies referred to China’s “parallel economies” in a note on Thursday — on the one hand, there’s the “old economy” — industrial- and commodity-focused, reflecting China’s extremely rapid growth during the late-20th century and first 10 years of the 21st.

    On the other hand, there’s the new economy — consumer and services-focused, with higher incomes and less of an overwhelming emphasis on exports. The extent to which the country is able to transition from the old to the new will have a major impact, both for China and the Western firms operating there.

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  • Thai Commerce Min happy with retail price slash by manufacturers

    Thai Commerce Min happy with retail price slash by manufacturers

    Commerce minister Apiradi Tantaraporn expressed his satisfaction after going on an inspection of prices of goods at several markets. After the inspection, she said the prices of vegetarian food have not been raised up too high this year, and the public could still afford to make purchases.

    She disclosed that 23 product manufacturers have notified the ministry that they have lowered the prices of 244 items, following the decrease of oil prices.

    Out of the listed items, 108 are in the food and beverages category, 35 items are construction materials, and 101 items in the lubricants category.

    The retail price cut for food and drinks will be between 1-56 baht, she said.

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  • Banks exploring plan for money transfers using mobile numbers

    Banks exploring plan for money transfers using mobile numbers

    A bold new plan to enable money transfers using only mobile phone numbers is being explored as the banking industry looks at ways to improve payment technologies.

    Monetary Authority of Singapore (MAS) managing director Ravi Menon revealed the initiative yesterday as he underlined the progress that Singapore has made towards becoming a smart financial centre.

    Speaking at the closing of the Sibos banking industry event yesterday evening, he said banks involved in Fast and Secure Transfers (Fast) are studying a “mobile addressing system” for the service, which was launched in March last year to allow near-instant interbank fund transfers and payments.

    “This means you will be able to make payments through Fast as long as you know the payee’s mobile number,” Mr Menon said.

    Also, the Association of Banks in Singapore (ABS) aims to standardise retail point-of-sale (POS) terminals, he added.

    “Our vision is a unified POS – a single terminal, preferably mobile, that can read all kinds of cards.”

    If implemented, the new Fast mobile system would greatly streamline digital transfer services.

    Several apps – including DBS Bank’s PayLah, OCBC’s Pay Anyone and United Overseas Bank’s Mobile Cash – have been rolled out by banks here to allow a user to transfer money to another using a mobile number, but these apps typically still require set-up and account information.

    ABS director Ong-Ang Ai Boon confirmed that five banks, including the three local ones, started initial discussions on the concept last month. “The whole thing is still in a very nascent state,” she said.

    “We are constantly looking for ways to improve productivity and efficiency for both the industry and consumers, but it will take time for us to make sure it is affordable and does not compromise on security.”

    A local bank source told The Straits Times the new service is likely to involve a central registry pegging phone numbers to accounts.

    This would mark a great step forward for Singapore banks, which are already active in digital and mobile initiatives.

    Mr Menon also suggested that the industry go one step further and develop an all-in-one addressing system – which would mean “being able to pay someone through Fast using also the payee’s e-mail address, social network or other proxies”.

    OCBC Singapore e-business head Aditya Gupta noted that Pay Anyone already allows that, although account information is also required of recipients.

    He said: “If the new addressing system can help make payments more seamless, this would be a good way forward.”

    The central bank has committed $225 million over the next five years to boost financial sector technologies, Mr Menon said.

    Another common standard in the works is the unified POS – ABS has made more progress in this area than with the mobile addressing system, Mrs Ong said.

    Meanwhile, achieving seamless data sharing is also a key thrust for ensuring greater cost efficiency for banks and regulators.

    Mr Menon said MAS is considering using application programming interfaces to streamline regulatory data submissions by the industry.

    “Our vision is for data to flow seamlessly in both directions between systems in the financial institutions and MAS,” he stressed.

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  • Beijing retail sales rise

    Beijing has reported a rise in retail sales during the week-long National Day holiday that began last Thursday.

    Chinese government news agency Xinhua reports both locals and tourists have “spent heavily” on consumer goods.

    During the first six days of October, Beijing’s 100 leading retailers reported a total sales revenue of 5.3 billion yuan (about US$833.7 million), up 6.2 per cent on the same period of last year, according to figures released by Beijing Municipal Commission of Commerce.

    The figures were collected from Beijing’s major retail outlets including shops, supermarkets and restaurants, it said in a press release.

    Many avid shoppers took advantage of the National Day promotions offered by most retailers to buy winter clothing and the latest models of smartphones and other digital products.

    While housewives flooded supermarkets to buy food for their family feasts, many others chose to dine at some of the city’s most famous restaurants.

    A surge of customers from locals and sightseers has brought an average 10 percent increase in revenue at these restaurants, according to the municipal commission of commerce.

    It said the Golden Week has witnessed a 20 per cent surge in gold and jewellery sales, as the holiday week is also a prime time for weddings.

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  • FairPrice delists Asia Pulp & Paper products

    FairPrice delists Asia Pulp & Paper products

    Singapore’s largest grocery retailer NTUC FairPrice has removed all products supplied by Asia Pulp & Paper from its stores due to the paper giant’s role in contributing to the toxic haze.

    The Singapore Environment Council (SEC) has instituted a temporary restriction on the use of the “Singapore Green Label” certification for APP products after becoming aware the company sourced paper from companies responsible for the fires across Indonesia which have left Singapore and parts of Malaysia shrouded in a toxic haze.

    FairPrice carries 14 housebrand paper products that are certified with the Singapore Green Label. Two of these are housebrand tissue products sourced from APP through Universal Sovereign, a licensed distributor, while the rest of the products are not affected. In addition, all 16 APP related products from the various brands FairPrice carries have also attained the Singapore Green Label certification.

    FairPrice CEO Seah Kian Peng said the company has taken the opportunity to reiterate its firm stance on the issue.

    “We have been proactively monitoring the situation over the past week. We initiated meetings with the various parties concerned when the list of firms including APP, was named by the authorities as suspects for contributing to the haze. As a fair business partner, we reserved taking action pending further information and investigation by the authorities.

    “Our decision to withdraw all APP products is a result of the temporary restriction of their Green Label certification. This reflects our conviction and commitment towards promoting and adopting sustainable practices, as we have done all these years.”

    FairPrice has been championing various initiatives that promote sustainability. One of these initiatives is certifying housebrand products with the Singapore Green Label Scheme administered by SEC. Last week, SEC requested companies with paper products certified under the Singapore Green Label Scheme to declare compliance with using sustainable materials. FairPrice was unable to sign the declaration for the two housebrand products earlier as it was pending APP’s confirmation of their compliance to SEC’s requirements.

    Following the temporary restriction of the Green Label notification, FairPrice has withdrawn both housebrand products, which include FairPrice Softpack Tissue 200s and the FairPrice Gold 3 Ply Facial Tissue 140s supplied by APP. Beyond this, FairPrice will also withdraw all APP related products including Paseo, Nice and Jolly.

    “We assure customers that FairPrice has alternative brands of paper products, including products with the Green Label, available to meet consumers’ needs.”

    All APP products will be withdrawn from all FairPrice stores by 5pm today.

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