Category: Living

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

  • Giant Muji Ginza flagship plan revealed

    Giant Muji Ginza flagship plan revealed

    Japanese anti-brand retailer Muji will open a new global concept store in Tokyo’s Ginza district next April.

    Besides a seven-storey Muji Ginza retail store, the company will open a Muji Hotel, a gallery and community space and a Muji-branded Diner on the site. It will close its existing standalone Tokyo flagship store at Yurakucho on December 2.

    Satoru Matsuzaki, president and representative director of Muji’s parent company Ryohin Keikaku, says the new Muji Ginza flagship will be a global statement for the brand with a focus on food.

    “Muji wants to connect the relationships between people and people, people and society, and people and nature through its goods and services,” Matsuzaki said in a statement.

    “Among the three most basic of human needs (clothing, food, and housing), food is perhaps the most critical, essential part of life. City dwellers, however, have become far removed from the farms, ranches and fisheries, where the food is actually produced, and have come to consume food as nothing more than mere merchandise. Many of them know neither the producers, the land nor the sea that grew the food.

    “The new global flagship store will dedicate more goods and services to food. We hope it helps customers think about the producers and production areas, taking another look at the relationship between food and people.”

    A dedicated food area on the store’s ground floor features vegetables and fruits delivered directly from the farms near Tokyo. The store will sell freshly squeezed juice or desserts made from in-store fruits. There will be a space to eat on site and the store will sell teas, spice and fruits by measure.

    A Muji Diner will open in the first basement level, focusing on simple food and featuring a salad bar. Dishes of fish, meat or wild game in season will be available for individual diners and groups.

    Muji Hotel Ginza and Atelier Muji Ginza

    Described as “anti-gorgeous, anti-cheap” the Muji Hotel Ginza promises “a great sleep at the right price”. It will be the third Muji Hotel after properties in Shenzhen and Beijing, featuring 79 guest rooms.

    The Atelier Muji Ginza will open on the building’s sixth floor, beneath the hotel, intended as a “multi-purpose facility of design and culture”.  It will comprise two galleries for exhibitions featuring craftwork and design, a salon where people can talk over coffee or drinks, a library of books related to design and arts and a lounge for events and workshops.

    To bridge the gap between the old flagship’s closure and the new Ginza concept’s opening, a mini pop-up store is planned for Marronnier Gate Ginza – half way between the two sites – trading for three months from December 12. It will stock items selected from Muji’s 7000 lifestyle basics range.

  • Korea’s jobless rate rises in September

    Korea’s jobless rate rises in September

    South Korea’s jobless rate rose slightly in September due to a fall in employment in the retail and restaurant sectors, with poorer-than-expected job creation continuing, government data showed Friday.

    The unemployment rate stood at 3.6 percent last month, up 0.3 percentage point from a year earlier, marking the highest rate for September since September 2005, according to the report compiled by Statistics Korea.

    The number of employed people reached 27.05 million in September, up 45,000 from the same month in 2017, according to the data.

    The unemployment rate for young adults — those aged between 15 and 29 — was 8.8 percent, down 0.4 percentage point from the previous year.

    The employment rate stood at 66.8 percent in September, down 0.1 percentage point from a year earlier, with the corresponding figure for young people at 42.9 percent, up 0.7 percentage point over the cited period.

    The number of newly added jobs improved last month, after staying below 10,000 per month for the second straight month. The retail segment saw a reduction of 100,000 jobs in September compared with a year earlier, and the lodging and restaurant sector also shed 86,000 jobs last month.

    The manufacturing sector also saw the reduction of 42,000 jobs last month.

    In contrast, the healthcare and IT sectors added 133,000 and 73,000 jobs, respectively.

    “A slowdown in the reduction of jobs in the manufacturing sector helped boost job additions, but any sharp rise in job creation is unlikely for the time being,” an official at the statistics agency said.

    The number of unemployed reached 1.02 million in September, hovering over the 1-million mark for the ninth straight month.

    In June, the government cut its job creation target to 180,000 this year from 320,000.

    Since May, the government has been implementing a 3.9 trillion-won ($3.69 billion) extra budget largely to create jobs.

    The push comes as President Moon Jae-in has called for all-out efforts to create quality jobs.

    The supplementary budget is the second of its kind under the Moon administration. Last year, the government set aside an 11 trillion-won supplementary budget that focused on creating high quality jobs.

  • Thailand is top destination for Holidays

    Thailand is top destination for Holidays

    Just more than a year ago, I ate at Nahm, in Bangkok and walked out after paying barely US$60 for a tasting menu that currently ranks 49th on the World’s 50 Best Restaurants list.

    My grand, five-star hotel, the Anantara Siam, with its gilded murals and landscaped courtyards, cost US$150 a night, including a breakfast buffet that was truly fit for royalty. Even the most expensive souvenir I bought in town, an elephant figurine with inlaid mother of pearl, cost less than a typical outing to McDonald’s back home in New York.

    Yet, according to a visualisation of recent UN World Tourism Organ-isation (WTO) data by HowMuch, a financial literacy and infographics agency, Thailand outranks every other nation in Asia when it comes to tourism spend.

    Globally, the only countries that out-earn Thailand in terms of tourism dollars are France (US$61bil), Spain (US$68bil), and the United States-which handily takes the gold medal, at US$211bil.

    It all comes down to volume. Foreign arrivals could hit 40 million next year, which is more than half the country’s population.

    “In Thailand, you’ve got something for everybody,” says Rebecca Mazzaro, a specialist for bespoke outfitter ATJ.

    “From the private island with the private villa to amazing street food meals that only cost a couple bucks, it has a diversity and variety that exists in few other markets. It’s no surprise lots of people are going-and spending,” she says.

    Though gaps in the WTO’s data make it difficult to ascertain the per-visitor spend in each of these countries, given recent and forthcoming developments, that number is likely to be rising.

    “There’s no question that historically Bangkok – and Thailand in general – has always been perceived as a value destination,” says John Blanco, general manager of the forthcoming five-star Capella Bangkok, opening next spring with 101 suites facing the Chao Phraya River.

    “But there has been a real effort to shift that perception.”

    Mastercard’s annual Global Destination Cities Index recently ranked Bangkok as the most-visited city in 2017 for the third year in a row. The study, based on undisclosed public data sources, rather than cardholder transactions, indicates that travellers shell out US$173 for a day in the Thai capital, compared to US$537 in Dubai or US$286 in Singapore. This year, it forecasts travellers will spend an additional 14% more.

    By next year, the city will have gained even more opportunities to spend, such as superlative new resorts from Four Seasons, Rosewood, Mandarin Oriental, and Waldorf Astoria, plus a US$1.6bil Bal Harbour-esque mixed-use retail development called Icon Siam. When it opens in November, the latter will claim restaurants from top-tier chefs, including Alain Ducasse and an outpost of Tokyo department store Takashimaya. The Capella hotel will house Mauro Colagreco restaurant, whose Mirazur in Menton, France, has two Michelin stars.

    “There’s a lot more meat on the bone now,” Blanco says of luxury offerings in the capital.

    Dino Michael, global head of Waldorf Astoria Hotels and Resorts, agrees. “We’ve been noticing the upscaling of Bangkok for a few years,” he tells Bloomberg. “The consumer has become more sophisticated; the dining scene has become more sophisticated.”

    And yet the timeless appeal is what led him to open the brand’s first South-East Asia property in Bangkok in August – a glassy tower with dramatic skyline views from nearly every angle. Among Bangkok’s selling points, he says, are strong infrastructure and airlift, a “depth and breadth of tourists”, and an ingrained culture of hospitality. For tourists and brands thinking about charting the region, Michael adds, “It’s world renown and an obvious starting point.”

    There may be a price to pay for popularity, particularly on Thailand’s beaches and islands. Already, throngs of partygoers on commercial yachts have done so much damage to the pristine marine ecosystem of Maya Bay-the picturesque backdrop to Leonardo DiCaprio’s 2000 film The Beach –that the area closed for four months earlier this year to recover. Unable to bounce back fast enough, it’s now being closed indefinitely. That follows similar measures in nearby Koh Khai and Koh Tachai islands, where coral was being destroyed at devastating rates.

    In Phuket, Mastercard’s 12th-most-visited destination in the world, there’s been a sharp decline in the local turtle population, correlated with the rise in beachside pollution. It’s led 70 hoteliers to band together to promote sustainability and encourage better etiquette among travellers. — Bloomberg

    And in Thailand’s north, the dramatic growth of tourism has led to a sobering spike in unethical wildlife tourism, often centering around elephants and tigers.

    The capital, meanwhile, has stayed largely out of the way of these visitor-related troubles-perhaps because it’s hard(er) to justify bad behaviour in a city with 40,000 Buddhist temples. “Of course, red light tourism is alive and well-like it or not,” says Catherine Heald, founder and chief executive of Asia outfitter Remote Lands. “But ultimately, tourism has really lifted the local economy.” At $57 billion a year, there’s no denying that.

    Read more at https://www.thestar.com.my/business/business-news/2018/10/11/thailand-is-top-destination/#zi8mAJb1KF44VojD.99

  • Airbnb looms as major threat to HCMC hotels

    Airbnb looms as major threat to HCMC hotels

    Hotel and serviced apartment tariffs outside the city center are leveling off and on the brink of declining as a result of competition from apartments leased on Airbnb and others.

    CBRE’s senior director, Duong Thuy Dung, said since 2016 a total of nearly 100,000 apartments have been built and sold in Saigon, and a large proportion of them are on Airbnb.

    So far this year only 43 new properties have hit the HCMC serviced apartment market. This low number was because investors had to consider reducing supply to avoid the competition from short-term lease apartments, Dung explained.

    Nevertheless, grade A serviced apartments in the downtown area saw high occupancy rates thanks to their superior location and inherent differences in brand and utility, she said.

    But grade B and C serviced apartments are under pressure, as are hotels.

    CBRE study, released in September, showed demand for three-star hotels have been gradually falling because of growth of Airbnb in both HCMC and Hanoi.

    Airbnb, launched in 2008, has over five million registered rental properties in 191 countries, while the 10 largest hotel chains in the world only have 6.1 million rooms.

    As of August this year Hanoi and HCMC had 21,994 properties on Airbnb. The average rental is around $36 per room per night in Hanoi and $44 in HCMC, making them very competitive.

    CBRE concluded that with their rapid expansion in the Vietnamese market, short-term room rental services are now a direct competitor to three-star hotels due to the similarity in their prices.

  • Walmart may soon track heart rates through shopping carts

    Walmart may soon track heart rates through shopping carts

    But its not about burning calories, Walmart wants to capture shopper reactions based on what they see or feel in terms of products and prices. The patent, titled “System and Method for Biometric Feedback Cart Handle,” will have grocery carts fitted with sensors on the cart’s handle, that will transmit the data to Walmart’s servers.

    “If biometric indicators show signs of an emergency, the program may also issue a broadcast throughout the store to call associates’ attention to the situation and could potentially initiate a call for emergency medical help as well,” said technology blog CBInsights.

    However, not all shoppers are happy with this new development with many taking to social media to express their concerns. Susan La Duke tweeted that is was on “the list of reasons” why she would never shop at Walmart.

    The retail giant has also bolstered its e-commerce and grocery teams witha reshuffle of senior executives in the US.

    Kieran Shanahan was promoted as the new senior vice president of e-commerce retail for everyday living while Tom Ward was named the new senior vice president of digital operations.

    It also announced that Andrea Albright will take up the position of senior vice president of snacks, beverage and impulse, replacing Al Dominguez who is leaving the company after 12 years.

    Bloomberg reported that Shanahan and Ward had helped expand the online grocery business prior. Walmart’s grocery segment makes up more than half its US sales.

    Deutsche Bank had upgraded the shares of Walmart on Tuesday based on strength in the online grocery industry. Deutsche Bank analyst Paul Trussell said that the retail giant is “reaping returns on the many years of investment in e-commerce and customer service”, which puts the retailing giant in the best position to move forward.

    Trussell also lifted his stock target from $US89 to $US113. Nuveen managing director Stephanie Link agrees that Walmart’s digital investments and acquisitions with Jet and Flipkart are a good move although she said to CNBC that Deutsche Bank’s call is a little early as Walmart still has to do some more to deliver growth.

    “They [Walmart] have just started to make these investments, and you’re just starting to see some results, but I think it’s going to take a long time … I think the environment is competitive and I think what Walmart is doing is right, but I don’t necessarily want to own the stock,” she said on CNBC‘s “Halftime Report.”

  • Vietnam’s U18 liquor sales ban impractical

    Vietnam’s U18 liquor sales ban impractical

    They are also saying that an emphasis on education and raising awareness will have greater impact in dealing with the problem of liquor abuse.

    A draft bill on the prevention of dangers of alcohol being compiled by the Ministry of Health proposes a number of prohibitions, including: promotion in any manner of liquor with alcohol content of 15 degrees or above; usage of positive phrases like “medicinal alcohol”, “nutritious alcohol” on product labels; advertising of alcohol during television prime time (6-9 p.m.); sale of alcohol to persons under 18; and sale of alcohol on the internet.

    Kieu Anh Vu of law firm KAV Lawyers said it was very necessary to bring legal measures against the dangers of alcohol, because the harm it was causing was indisputable.

    Vu said he supported the draft bill’s ban on alcohol consumption by government officials, civil servants, and employees during working hours or between shifts during the working day; by operators of motorized vehicles; and by people under 18.

    “These regulations are appropriate to ensure social order, safety and health of the community,” he said.

    However, Vu was concerned about how age checks would be carried out. “Will vendors have the right to check people’s age by looking at their identity cards, or just by asking questions?”

    Psychologist Nguyen An Chat, on the same page as Vu, also questioned how alcohol sellers could correctly verify the age of each individual.

    “Some 15 year olds look very mature while some 20 year olds can look underage. Would everyone wishing to purchase alcohol have to produce identity documents?” he wondered.

    An online right?

    Lawyer Vu Tien Vinh, director of Bao An Law Firm, said: “Buying alcohol over the Internet is more convenient than going to shops or supermarkets. If online sale is prohibited, people can and will continue to buy alcohol through traditional channels.

    Vinh said that in reality, it was too easy for buyers to obtain alcohol via traditional channels such as supermarkets and other dealers. When consumers can buy alcohol anytime, anywhere, the ban on online sales will not have much of an impact on its consumption, he said.

    “Detecting online transactions on the sale of alcohol to punish with fines is very difficult. It will not be hard for consumers to get around this regulation,” Vinh added.

    Sociologist Trinh Hoa Binh concurred, saying identification of illegal alcohol sales online was very hard to do.

    “Internet sales are the current trend. Will the prohibition of selling alcohol online go against this?” asked psychologist researcher Nguyen An Chat.

    Given the implementation difficulties, Binh proposed that instead of prohibitive regulations, authorities should instead start with education, build a set of cultural values for the modern Vietnamese society that discourages alcohol abuse.

    Chat supported this. He said education should begin at home and continue in schools so that each person was aware of the danger of drinking, so that people would exercise restraint and control their consumption.

    Psychologist Khuat Thu Hong said many countries have faced difficulties in implementing regulations prohibiting or restricting the sale/use of alcohol, but over time, strict compliance has become the norm.

    “In Vietnam, for these regulations to be implemented well, close monitoring and regular communication on the harms of alcohol will be essential for the people to understand and co-operate,” said Hong.

    In Vietnam, about 800 deaths per year are related to the use of alcohol, including beer. Almost 30 percent of social order disruption cases are also related to alcohol consumption.

    In 2017, Vietnamese people spent close to $4 billion on alcohol. The cost of dealing with alcohol-related traffic accidents was  estimated at about one percent of the GDP the same year.

    The alcohol industry contributes about VND50 trillion ($2.17 billion) to the state budget a year and provides about 220,000 jobs directly or indirectly.

  • Vietnam to hike power prices in 2019

    Vietnam to hike power prices in 2019

    Deputy Minister of Industry and Trade Do Thang Hai said Friday that national utility Vietnam Electricity (EVN) might need to cover an incurred cost of VND20.73 trillion ($892.18 million) between 2018 and 2019.

    This include incurred costs of VND5.48 trillion ($235.92 million) this year and projected costs of VND15.25 trillion ($668 million) next year, Hai said.

    Incurred cost this year includes exchange rate differences in 2017 of VND3.07 trillion ($132.13 million), payment for water resources exploitation, VND502 billion ($21.6 million) and higher gas prices VND1.91 billion ($82.18 million).

    Projected incurred costs next year are based on exchange rate differences this year of VND3.51 trillion ($151.28 million), exchange rate differences 2015 scheduled to be paid next year, VND734 billion ($31.58 million), payment for water resources exploitation, VND502 billion ($21.6 million), and increase in gas costs, VND10.5 trillion ($451.79 million).

    Hai said EVN would review its electricity production costs last year in collaboration with government bodies to see if it was lower than current prices and would report to authorities for directions on adjusting next year’s prices.

    In July, Prime Minister Nguyen Xuan Phuc had banned any increase in electricity prices and medical fees for the rest of the year, aiming to keep the inflation rate below 4 percent and achieve a GDP growth of 6.7 percent in 2018.

    Inflation was at 3.57 percent in the first nine months of this year.

    The most recent power price increase in Vietnam was last December, when it rose 6.08 percent to VND1,720.65 (currently 7.4 cents) per kWh.

    EVN had a revenue of VND293.18 trillion ($12.61 billion) last year, with VND289.25 ($12.44 billion) from electricity sales, an increase of 8.94 percent from the previous year.

  • Seed Money for Healthcare Startups in Southeast Asia

    Seed Money for Healthcare Startups in Southeast Asia

    HealthXCapital launched Emerging Asia’s first healthcare-focused early stage VC fund, according to a media release sent on Thursday.

    Backed by Apollo Hospitals, Jungle Ventures, Eight Roads Ventures (the proprietary investment arm of Fidelity International), and other private investors, early stage venture firm HealthXCapital aims to fuel healthcare innovation in Asia’s emerging economies.

    Healthcare Has Not Kept Pace

    The region has experienced one of the world’s fastest growths stories but healthcare has not kept pace. We believe that HealthXCapital can foster healthcare innovation in Asia in order to improve patient outcomes, access and affordability in our core demographies, said Suneeta Reddy, Managing Director of the Apollo Hospitals Group.

    HealthXCapital has launched a $25 million fund to provide smart, connected capital to healthcare startups focused on emerging markets in South Asia and Southeast Asia.

    Perennial Challenges

    The firm invests and works intensively with healthcare startups to augment their commercialisation and bring accessible socio-economic benefits to Asia’s healthcare ecosystem.

    Asia faces perennial challenges such as underdeveloped infrastructure, affordability of treatments, lack of proactive healthcare and opaque data management. While healthcare expenditure is growing fast, it still continues to lag. Large gaps remain in the Asian healthcare systems, Reddy added.

    Ripe For Disruption

    These gaps are also driving strong demand for technology in the $517 billion opportunity in 2018 as projected in a recent report published by Frost & Sullivan.

    Our aim at HealthXCapital is to help modernise a sector which has long been ripe for disruption. We want to grow the best domestic and global healthcare technologies by helping them rapidly scale across emerging Asian markets, said Seemant Jauhari, Partner at HealthXCapital.

  • YouTube banking on premium subs to raise revenue

    YouTube banking on premium subs to raise revenue

    Research firm emarketer forecasts that video ad spend will reach $20 billion by 2020. Unfortunately for YouTube, rival video advertisement platforms (media types) are expanding.

    YouTube’s competition is increasingly coming from specialist platforms, such as Twitch and Instagram. Apple iTunes is also drawing from the population of music-video viewers who have traditionally helped differentiate YouTube from its ad-supported competitors.

    To address rising competition in the advertising market, Google-owned YouTube is diversifying its business model by rebranding and expanding its YouTube Premium subscription service and other measures to raise revenue, while maintaining the company’s position as the world’s leading online video platform.

    The current markets for YouTube Premium, excluding the music-only tier, are expected to generate revenue of nearly $2 billion in 2022, according to research firm IHS Markit.

    “To date, online video advertising growth has been fueled by the movement of advertising budgets, particularly from traditional TV – a rising tide that has lifted all the major platforms,” said Dan Cryan, the company’s executive director of digital media.

    “At some point, this budget migration will slow, however, and the battle for audiences will be intensified as a battle for ad spending.”

    Revenue generated by YouTube Premium in 2022 equates to 7% of the $27 billion the company is expected to make worldwide from advertising. Nearly three-quarters (73%) of YouTube Premium subscription revenue will come from the United States, followed by Europe with 13%, Asia-Pacific with 6%, and Mexico and Canada making up the remaining 9%.

    Content monetization methods outside of advertising will help to deliver higher revenues to its content producers, keeping them loyal to the platform and by extension, their audiences. Examples of these methods include paid individual channel subscriptions, an integrated merchandise store and the recently expanded and rebranded YouTube Premium subscription.

    “The YouTube Premium subscription leans into its position as a music platform, to drive uptake and expand its offer,” said Max Signorelli, home entertainment research analyst for IHS Markit.

    “[This is] a well justified move considering the exceptional growth of Spotify and Apple Music subscriptions, which between them gained 3.5 million subscribers per month in the first quarter of this year.”

  • Golden Week : Chinese Millennials go for Insta-spots in HK

    Golden Week : Chinese Millennials go for Insta-spots in HK

    Hong Kong had its own influx of tourists from Mainland China. But they were not all in search of the city’s more well-trodden sights.

    Media used to report about facts and figures related to shopping expenses and how Chinese travelers were making the fortune of retailers. This year, Millennials and GEN Z contributed to HK differently.

    Tourism Board would be happy to know that HK’s Instagram spots were shared and re-shared on social media framing HK as much more than a shopping destination.

    Among the preferred spots:

    • The Rainbow Thief : When captured at an appropriate angle, a colorful building opposite with a mural design titled the “Rainbow Thief” forms the perfect backdrop.
    • Montane Mansion : The claustrophobic 46-year-old Montane Mansion is an urban photographer’s dream, as it seemingly melds into the Oceanic Building and the Yick Cheong Building on either side, forming a mishmash of juxtaposing windows, air conditioning vents and hanging laundry.
    • The Choi Hung Estate : The fresh palette of paint tones that fade into each other on the facade lives up to its namesake, and has pulled in the social media-savvy crowds.
    • The Sai Wan Swimming Shed : only one swimming shed remains in Hong Kong, on the far western edge of the island.
  • Singtel, affiliates sign eSports alliance

    Singtel, affiliates sign eSports alliance

    Singtel and four of its regional mobile associates have entered a collaboration agreement aimed at stimulating the gaming and eSports ecosystem in Southeast Asia, Australia and India.

    Singtel and wholly-owned Australian subsidiary Optus have signed agreements with India’s Bharti Airtel, Thailand’s AIS, the Philippines’ Globe Telecom and Indonesia’s Telkomsel covering areas including scaling up eSports, content creation and distribution.

    Singtel, Optus, Airtel, AIS, Globe and Telkomsel plan to jointly develop solutions and services for gamers and fans across the region, including providing access to local, regional and global eSports competitions, original content and exclusive programming.

    The agreement was signed at the Singtel Group’s first multi-title and regional eSports league championship – the PVP Esports Championship – over the weekend.

    The Singtel Group has announced plans to leverage its telco assets and regional mobile customer base of more than 700 million to pursue opportunities to encourage eSports development.

    Singtel also used the championship event to unveil its new ultra-fast fiber broadband service  for Singapore gamers, which includes 1Gbps of dedicated gaming bandwidth and another 1Gbps for general internet usage.

    “Gaming is part of a digital world without borders, where fast network speeds, connectivity and local market knowledge are critical. It is a natural and perfect fit for Singtel and our partners,” Singtel International CEO Arthur Lang said.

    “We are committed to working as a group to better serve the gamers in our networks, and in the region. We hope to play a major regional role as an enabler of eSports, to collectively grow the gaming ecosystem, and give gamers the support and recognition they deserve.”

  • Singtel launches ultra-fast broadband for gamers

    Singtel launches ultra-fast broadband for gamers

    Singtel has launched a new ultra-fast fiber broadband service targeted at gamers, which comes bundled with a dedicated gaming Wi-Fi modem.

    The new 1+1 Gbps Fibre Pro Gamer Bundle comes with the newly launched Razer Sila gaming router and a subscription to the WTFast Gamer Private Network service, which is designed to automatically connect gamers to the fastest servers.

    The bundle is priced at S$69.60 ($50.41) on a 24-month contract, and connects to a dual network which comprises 1Gbps of dedicated bandwidth for gaming and another 1Gbps for regular internet usage.

    The dedicated bundle is being launched today at the opening day of Singtel’s first PVP Esports Championship in Suntec City, a three day event featuring teams from Australia, India, Indonesia, the Philippines and Thailand competing for a $300,000 prize pool.

    “We are pleased to offer our customers this broadband bundle that’s specially designed for online gaming during our inaugural PVP Esports Championship event,” Singtel CEO consumer Singapore and group chief digital officer Yuen Kuan Moon said.

    “Online gaming is extremely popular with our customers. This requires high connectivity performance and specialized devices to optimize the gaming experience. By bringing together Singtel’s superior network connectivity and Razer’s Sila gaming router, we believe the 1+1 Gbps Fibre Pro Gamer Bundle will provide the ultimate performance for gamers.”

  • Malaysia’s govt undecided on fuel subsidy plans

    Malaysia’s govt undecided on fuel subsidy plans

    The government, which has promised to stabilise the fuel prices and reintroduce fuel subsidies to targeted groups in its manifesto, has yet to make decision on its fuel subsidy plans.

    “We are still drafting it. We have not come up to a number yet, and whether there is a decrease or increase (in fuel subsidy) we will see when we table it in the parliament,” Minister of Entrepreneur Development Mohd Redzuan Md Yusof said.

    “We are still trying to make estimates to what impact it (the subsidy plans) has to the economy of the country,” he added.

    On Budget 2019, Mohd Redzuan said the government is trying its best to come up with a fair and balanced budget, noting there will be an increase in the development expenditure.

  • Daiso Japan Launches Sakura-themed Store in Philippines

    Daiso Japan Launches Sakura-themed Store in Philippines

    Daiso Philippines has opened a Sakura-themed flagship store in Robinsons Galleria, Quezon City.

    Following the first store in Tuguegarao, the new one is inspired by the Sakura flowers and the Japanese culture of minimalism.

    The interior is designed with the elements of pale-coloured wood and stainless steel, with contrasting pink-coloured products, most notably Hello Kitty-themed perfumes, cosmetics and other products.

    “The inspiration behind the theme is basically Sakura being an iconic, and beloved flower of Japan and Daiso is in totality a representation of everything Japanese,” says Bernice Jayne Chioa-Bunoan, marketing services manager at Daiso Japan.

    More than 70,000 products ranging from kitchen essentials to stationery products to laundry utensils are sold from PHP88.

    Established in 1977 in Japan, Daiso now has 3000 stores all over the world. Daiso Philippines was launched in 2009.

  • Tesco Lotus Thailand profits down

    Tesco Lotus Thailand profits down

    Falling sales by Tesco Thailand impacted the UK parent company’s first half results released overnight.

    Like-for-like sales across Asia – which also includes the neighbouring Malaysia stores – fell by 4.8 per cent, explained by the company’s decision to exit its unprofitable Tesco Thailand cash-and-carry business.

    But the company’s profit in Asia fell by 29.1 per cent.

    Despite the disappointing numbers, Tesco CEO David Lewis moved to reassure investors that tesco Thailand was still an important focus.

    “In Thailand we’re market leader, it’s still the most profitable part of the group and there’s still significant growth to be had,” he said.

    Tesco reported an operating profit before one-off items of £933 million, which has 24 per cent ahead of the same time last year, but missed analyst expectations of £978 million.

    “I don’t think the market had fully factored in the Asian [business] but we’re really encouraged by the UK,” said Tesco CFO Alan Stewart.