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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.

  • Vietnam’s top taxi firm sees investment follow divestment

    Vietnam’s top taxi firm sees investment follow divestment

    Soon after a Singaporean fund divested its entire stock in Vietnam’s top taxi firm Vinasun, a domestic securities firm stepped in to fill the gap.

    The Ho Chi Minh Securities Corporation (HSC), a professional securities brokerage and equities firm in Vietnam, has announced that it bought 7.2 million shares of Vinasun on May 25, the same day that Singapore sovereign wealth fund GIC exited.

    It is estimated that HSC has spent about VND104 billion ($4.5 million) to acquire 10.6 percent of Vinasun’s equity, making it the third largest shareholder of the taxi firm, behind TAEL Partners fund, which owns 18.3 percent, and Vinasun CEO Dang Phuoc Thanh, who owns over 35 percent.

    On May 25, GIC had negotiated the sale of 5.4 million shares, or around 8 percent of its stake in Vinasun, for around VND80 billion ($3.5 million), less than half the price it paid four years ago.

    The divestment followed lackluster performance by the taxi company, which had seen its share value plunge. The company has blamed its woes on “unfair competition” from foreign ride-hailing service companies.

    Ride-hailing services Grab and Uber arrived in Vietnam in 2014, launching both car and motorbike taxi services. The two services have been running on a trial basis since early 2016, cutting deep into the earnings of traditional taxi drivers.

    Many taxi firms have accused Grab and Uber of unfair competition, saying their businesses have suffered and thousands of drivers have had to quit. Currently, Vietnam is investigating Grab’s acquisition of Uber, saying there are signs of antitrust law infringement in the deal.

    Vinasun has targeted revenues of VND2.16 trillion ($94.9 million) and after-tax profits of VND95 billion ($4.18 million) this year, 50 percent less than in 2017 and the lowest target in nine years.

    By the end of 2017, Vinasun had whittled down its staff to just 7,117, a decrease of 10,000 people from the beginning of the year. In the first three months this year, it lost another 120 employees.

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  • Vietjet to launch Zero Fare Tickets promo, again

    Vietjet to launch Zero Fare Tickets promo, again

    If the weekday blues are getting you down, fret not as fast growing Vietnamese carrier – Vietjet is offering the ultimate midweek pick-me-up with its latest zero fare ticket promotion.

    Starting today until 8 June 2018, the airline is offering 400,000 tickets priced from only VND0 as part of its ongoing ‘Free up Your Summer with Vietjet’ campaign. The promotional tickets are applicable on all international routes to Seoul (South Korea); Hong Kong; Kaohsiung, Taipei, Taichung, Tainan (Taiwan); Singapore; Bangkok, Phuket, Chiang Mai (Thailand); Kuala Lumpur (Malaysia); Yangon (Myanmar); Phnom Penh, Siem Reap (Cambodia) for travels between 1 August to 31 December 2018 (excluding national holidays).

    These tickets are available for booking during the golden window of 1pm – 3pm (local time) daily at Vietjet website.

  • Waldorf Astoria Hotels & Resorts to open in Bangkok

    Waldorf Astoria Hotels & Resorts to open in Bangkok

    Luxury is more and more looking at SEA, and Thailand, among others is one of the most promising markets. Besides, sectors such as fashion, jewellery , accessories, in the era in which studies reveal that millennials are more interested in experience rather than possession, hospitality wins their pockets.

    Hilton’s luxury brand, Waldorf Astoria Hotels & Resorts, will welcome its first guests in South East Asia in the third quarter of 2018 with the opening of Waldorf Astoria Bangkok.

    One of the region’s most anticipated hotel openings this year, the grand debut will introduce the brand’s iconic experience to discerning travelers in the vibrant Thai capital, in the heart of the bustling Ratchaprasong intersection.

    With a global portfolio of 30 hotels and resorts, Waldorf Astoria is known for its relentless commitment to personal service and culinary expertise in landmark locations around the world.

    Waldorf Astoria consistently offers a strong sense of arrival and impressive public spaces worthy of hosting history. Numerous historical figures – from Grace Kelly, Marilyn Monroe and Frank Sinatra, to world leaders – have been associated with the brand.

    “Waldorf Astoria Bangkok will mark the brand’s first foray into South East Asia and herald the introduction of Unforgettable Experiences in Bangkok and beyond,” said Daniel Welk, Vice President of Operations, Luxury and Lifestyle, Hilton, Asia Pacific. “The hotel’s timeless environment and exclusively crafted guest experiences, combined with the brand’s unparalleled True Waldorf Service, will set a new benchmark for luxury in Asia.”

    In tribute to the owners of the property, Magnolia Finest Corporation Limited, the building has been designed to give the effect of springing from the ground like a Magnolia flower. Towering above the city, the dazzling sculptural appearance of the property cuts a dramatic profile in the skyline of Bangkok.

    The hotel will boast 171 luxuriously appointed and spacious guest rooms and suites, which reflect the artistry and craftsmanship of award-winning architect André Fu and his design studio AFSO.

    Globally recognized for high-profile, high-end hotels, art spaces and fashion collaborations, the studio has been involved in curating the holistic hotel experience that brings together the building’s contemporary architecture with Thai artisanal tradition.

    The hotel’s crown jewel, meanwhile, will span the top three floors from levels 55 to 57, comprising three distinctively curated dining outlets by world-renowned design and concept firm AvroKO, headquartered in New York.

    In line with Waldorf Astoria’s culinary heritage, Waldorf Astoria Bangkok is primed to be a dining destination in itself; it will feature three unique restaurant concepts, a lounge and two bars. Acclaimed chef Rungthiwa Chummongkhon, or Chef Fae, will bring her experience of working at Michelin-starred restaurants in Europe to head the restaurant Front Room, which will present an elegant new blend of “new Nordic” and Thai flavors in a relaxed setting.

  • Chinese retail tycoon’s fraud conviction thrown out

    Chinese retail tycoon’s fraud conviction thrown out

    China’s supreme court has thrown out the fraud conviction of a retail tycoon in an unusual gesture of official leniency toward entrepreneurs amid a string of high-profile detentions and prosecutions that has rattled the Chinese business world.

    The Supreme People’s Court ruling Thursday reversed the conviction of Zhang Wenzhong, former chairman of Wumart Stores, who served 12 years in prison on charges of improperly obtaining technology development subsidies.

    A number of Chinese businesspeople have been prosecuted or detained for questioning about possible offenses including embezzlement and bribery.

    On Wednesday, a lawyer for the imprisoned founder of the insurance company that owns New York City’s Waldorf Hotel said he planned to appeal his 18-year sentence imposed this month on fraud charges.

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  • Mothercare creditors approve CVA plans

    Mothercare creditors approve CVA plans

    Creditors have given the green light to the Mothercare CVA plan which will lead to the closure of 49 stores and the axing if hundreds of jobs.

    The company voluntary arrangement was revealed last month after the company posted a  £72.8 million loss last financial year, despite the closure of more than half its stores over the past five years. The company admitted then it was in a “perilous” position.

    More than 75 per cent of creditors approved the plan – necessary for its implementation. As well as the closures, the embattled retailer will seek rent reductions on 21 store sites.

    The Mothercare CVA will not affect day-to-day operations with all stores continuing to trade for the time being.

    Part of the CVA is a £113.5 million refinancing package, including £28 million raised through the sale of new shares, and revised debt facilities.

    “We are very grateful for the support of our many stakeholders across our creditor base in supporting today’s CVA proposals,” said Clive Whiley, a turnaround specialist appointed acting executive chairman less than two months ago to help rescue the business.

    “These measures provide a solid platform from which to reposition the group and begin to focus on growth, both in the UK and internationally.”

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  • WHO wants Vietnam to raise tobacco taxes

    WHO wants Vietnam to raise tobacco taxes

    Vietnam should raise its tobacco tax in order to deter and reduce people smoking, the World Health Organisation has advised.

    WHO head Kidong Park said at a recent meeting held by the Health Ministry in Hanoi that Vietnam was among the top 15 countries in the world with the lowest tobacco prices.

    He said Vietnam’s current tobacco tax only accounts for 35 percent of a cigarette pack’s retail price, which is lower than the world’s average of 56 percent. In comparison, corresponding tax rates in Thailand, Brunei and Malaysia are 75, 81 and 57 percent respectively.

    Park said that in order to reach the government’s target of reducing the number of smokers among Vietnamese males from 47 to 39 percent by 2020, the country would need to raise its tobacco taxes by a fixed tax rate of at least VND2,000 per packet. VND5,000 per packet would be better, he added.

    The Finance Ministry had previously proposed two tobacco taxing options for inclusion in the Tax Administration Law – to apply an additional fixed tax rate for each cigarette pack, or incrementally increase the special consumption tax on tobacco each year until it reaches 85 percent in 2021.

    Under the first option, a 20-cigarette pack would cost an additional VND1,000, and each cigar, VND1,500.

    The Ministry of Health is currently leaning towards the first option, but has suggested an increase of VND2000 or VND5000 per pack, saying VND1,000 is too low.

    At a workshop on Tobacco Taxation organized by Oxfam early last month, Deputy Director of the Tobacco Control Fund, Phan Thi Hai, said higher tax rates would not only increase government revenue, but also “prevent adolescents and poor people from purchasing more cigarettes.”

    Vietnam has one of the world’s highest populations of smokers. It is estimated that 15.6 million Vietnamese smokers spend VND31 trillion ($1.36 billion) on cigarettes every year, which promotes trade in contraband tobacco.

    Smoking is a major cause of lung cancer and cardiovascular diseases that costs Vietnam VND23 trillion (more than $1 billion) in treatment and labor loss every year, according to the health ministry.

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  • BACD Kicks Off with Industry Association for Commercial Divers

    BACD Kicks Off with Industry Association for Commercial Divers

    In accordance with its constitution, The Belgian Association of Commercial Divers (BACD) announces that Hans Cuylits is its new President and Chairman of the Board.

    Hans Cuylits said: “My aim is to increase the impact and effectiveness of BACD to its members and other stakeholders through the implementation of our strategy developed over the last year.

    I have a particular passion in developing collaborative ‘win-win’ relationships between commercial divers, dive companiers and suppliers in order to bring projects off the drawing board and into the dive field.”

    The Belgian Association of Commercial Divers (BACD) is a leading diving association representing the vast majority of commercial divers in the inshore and offshore marine industry worldwide. They have a membership of over 60 companies including divers, suppliers and numerous non-governmental organisations (NGOs). BACD was formed in 2017.

    The mission is to improve performance and safety in the commercial diving industry. BACD achieves this by leveraging the expertise of their members through conferences, seminars and meetings, and in publishing leading standards of technical and operating guidance in key areas of safety, quality, and offshore performance.

    In addition, BACD represent their members in dialogue with other industry bodies, regulators. BACD is very active in international regulatory and policy matters in the upstream industry.

    Mission – to improve performance and safety in the commercial diving industry.

    Vision – to be the global authority in the commercial diving industry by championing better regulation and the delivery of authoritative technical practices. This will be achieved by being the focal point for developing opinion and influence in the industry.

    Value proposition – to influence our industry in key technical, contractual, policy and regulatory matters that are in the collective best interest of the commercial diving inudstry.

  • Vietjet Opens Direct Flight from Hanoi to Osaka

    Vietjet Opens Direct Flight from Hanoi to Osaka

    Vietnam’s new-age carrier Vietjet will officially launch a direct route connecting Hanoi with Osaka (Japan) on 8 November 2018, looking to further boost tourism and trade integration between the two countries and across the region.

    A special ceremony to announce the new route was held today at the Japan-Vietnam Economic Forum in Tokyo with Vietnam’s President Tran Dai Quang, Japanese government’s representatives, and officials from both countries joining representatives of Vietjet.

    At the ceremony, Vietjet, SBI Leasing Services, Natixis and some of the Japanese equity arrangers also signed a MOU worth a total of nearly US$600 million for the purpose of aircraft financing.

    Using Vietjet’s new and modern A320 aircraft, the Hanoi-Osaka route will operate on a daily basis with a flight time of more than four hours per leg. As proposed, the flight will depart from Hanoi each day at 1:45am and arrive in Osaka at around 7:50am (local time). The return flight will take off from Osaka at 9:20am and land in Hanoi at around 1:10pm (local time).

    Vietjet’s new service to Osaka will bring the airline’s total number of international routes to 45 while also servicing 38 domestic routes.

    Speaking at the ceremony, Vietjet’s Vice President Nguyen Thi Thuy Binh said, “We are excited to be preparing to launch this new route. The Hanoi-Osaka route will be the first service for Vietjet’s expansion into Japan – the Land of the Rising Sun. We believe that this new connection and our expanding network will help make the travel dreams of millions of passengers come true.”

    “Japan is known to people from all over the world for its natural beauty especially for its cherry blossom season and Mt. Fuji. The country is also adored for its many enviable cultural heritage, friendly people, mouth-watering cuisine and cutting-edge technology. As part of our expansion strategy in Japan, we will continue to open new routes connecting Vietnam and Japan’s economic and tourism hubs in order to diversify destination choices and meet the growing demand for air travel between the two countries and beyond to better connect with the rest of the world,” added Binh.

    Osaka is Japan’s third largest city with a population of over 2.7 million people. It is not only the capital of the Kansai Region but also considered to be a cultural treasure of Japan for its striking traditional architecture and authentic Japanese cuisines. The city is well-known for its stunning tourist attractions and entertainment destinations such as the Osaka Castle (Ōsakajō), Sumiyoshi Taisha, Minoo Park, Universal Studios, Minami (Namba) and many more.

    Vietjet has already collaborated with Japanese travel agencies to operate many direct-chartered flights from Vietnam to Osaka as well as Narita, Sendai, Nagoya, Ibaraki and Fukushima, a demonstration that the airline’s services and its efforts in connecting the two countries has been very well received.

    Following a “Consumer Airline” model, Vietjet continues to open new routes, add more aircraft, invest in modern technology and offer more added-on products and services to serve the demands of millions of satisfied customers.

    An award-winning and pioneering airline, Vietjet is much loved by travelers for its exciting promotional and entertainment programs, especially during festive seasons. With high-quality services, diverse travel categories and special low-fare tickets, the airline offers its passengers memorable flying experiences on new aircrafts with comfy seats, delicious hot meals served by beautiful and friendly cabin crew, and many other interesting added-on services.

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  • Courts Malaysia hurts Asia performance

    Courts Malaysia hurts Asia performance

    Regulation changes in Malaysia dragged down both revenue and profits for Southeast Asian electrical, IT and furniture retailer Courts Asia.

    For the year to March 31, Courts Asia had a 3.7 per cent dip in revenue to SG$713.1 million (US$532.5 million). Profits slipped to $8.1 million from $23.7 million.

    Meanwhile, distribution and marketing expenses “remained relatively stable” at $56.5 million, or 7.9 per cent of revenue, the group says.

    Revenue from Malaysia, which contributed to 26.2 per cent of total turnover, slid 15.4 per cent on a year-on-year basis. This was mainly because of lower sales of goods and earned service charge income, says the group.

    Courts Asia executive director/group CEO Terence Donald O’Connor says the company faced headwinds in Malaysia following the introduction of the Consumer Protection (Credit Sale) Regulations 2017. This saw interest rates being capped at 15 per cent a year along with new compliance processes that led to a revenue drop.

    “The fall in revenue, coupled with an increased credit cost and a more prudent credit-sanctioning approach in Malaysia, affected our profitability,” says O’Connor.

    Taskforce

    As a result, Courts Asia has formed a transformation taskforce to look into business processes with the objective of driving productivity in Malaysia.

    Meanwhile, seven underperforming stores have been closed, ending with a footprint of 63 outlets. Other key actions taken in Malaysia include deploying a regional credit taskforce comprising executives with “specialised credit collections and marketing skill sets”.

    “While we agree that consumer sentiment has lifted with the changes sweeping through Malaysia, it will take time for it to filter through to discretionary spending,” says O’Connor. Initiatives such as zero rating GST from 6 per cent from today have been welcomed.

    In Singapore, Courts Asia’s performance remained strong at $25.2 million, the company says. Revenue from Singapore accounted for 69.9 per cent of the group’s top line, and increased 1.5 per cent. This was underscored by improved sales and follows an increased focus on driving an omni-channel approach with the relaunch of its online platform and the re-opening of Courts Megastore at Tampines in November.

    As part of its move toward offering furniture for the modern home, Courts Asia has refreshed its furniture range leading up to the Hari Raya festive season.

    For Indonesia, the group achieved 13.7 per cent growth in revenue in rupiah, thanks mainly to new stores. After “prudently widening its footprint”, Courts Asia now has 32 locations across the Jakarta region, including nine stores and 23 pop-ups.

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  • Petronas buys 25% stake in LNG project in Canada

    Petronas buys 25% stake in LNG project in Canada

    Petroliam Nasional Bhd (Petronas) is acquiring a 25% stake in a liquefied natural gas (LNG) project in Kitimat, Canada after it scrapped plans for the Pacific NorthWest LNG project in the country last July due to challenging market conditions as a result of prolonged depressed prices.

    Petronas said in a statement that its wholly owned entity the North Montney LNG Ltd Partnership had entered into a purchase and sales agreement for the deal. The purchase sum was not disclosed.

    Other shareholders of the project are Royal Dutch Shell plc’s subsidiary Shell Canada Energy (40%), PetroChina Canada Ltd (15%), Mitsubishi Corp’s subsidiary Diamond LNG Canada Ltd (15%) and Kogas Canada LNG Ltd (5%).

    The transaction is subject to international regulatory approvals and the completion of other associated agreement. It is slated for completion in the next few months.

    “Petronas is pleased to be part of the LNG Canada project. As one of the world’s largest LNG producers, Petronas looks forward to adding value to this venture through our long-term expertise and experience across the LNG value chain. We are committed to deliver LNG and natural gas, the cleanest fossil fuel in the world, to the growing global energy market,” said Petronas president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin.

    “Petronas is in Canada for the long-term and we are exploring a number of business opportunities that will allow us to increase our production and accelerate the monetisation of our world-class resources in the North Montney. LNG is just one of those opportunities,” he added.

    The proposed project includes the design, construction and operation of a gas liquefaction plant and facilities for the storage and export of LNG, including marine facilities.

    The plant will initially consist of two world-scale LNG processing units referred to as “trains”, with an option to expand the project in the future to four trains.

    Canada is Petronas’ second largest resource holder after Malaysia, with vast unconventional gas and oil resources in the North Montney.

    Petronas and its North Montney joint venture partners are one of the largest natural gas resource owners in Canada with over 52 trillion cubic feet of reserves and contingent resources.

  • Korean retail conglomerates eye pet business more and more

    Korean retail conglomerates eye pet business more and more

    South Korean retail conglomerates like CJ, Lotte and Shinsegae are catering more and more for pet owners as market demand grows.

    They have opened pet shops that offer products and services ranging from food and grooming services to even lodging for pets. They are also launching their own branded product lines.

    Shinsegae International’s household goods brand Jaju has launched its pet product line Jaju Pet, which plans to sell innovative pet products such as its “slow round bowl”, designed to help pets eat their food slowly, and plastic dog-waste bags that can be connected to a dog collar.

    E-Mart, Korea’s first discount retail outlet run by Shinsegae, has opened Molly’s Pet Shop with its offering of products and grooming services. It even has its own pet hotel. Since opening at the end of 2010, E-Mart now runs 35 Molly’s stores.

    Lotte Department Store opened a pet consulting service dubbed Zipsa in Gangnam in January. The store offers such services as dog-walking or pet-food delivery.

    Online shopping malls are also trying to catch some action. GS Shop has launched a “pet zone” on its mobile platform offering services that cater to various stages of a pet’s life cycle, while CJ Mall has its All Pet Club, offering food and clothing products as well as services such as lodging and funerals.

    Food companies Binggrae, Dongwon F&B Harim, KGC and Pulmuwon are also launching pet-food brands.

    Korea’s Ministry of Agriculture, Food and Rural Affairs says the pet industry has grown by more than 14 per cent on average a year since 2014. The market size was tabulated at KRW2.3 trillion (US$ 2.1 trillion) last year and is expected to surpass the KRW3 trillion won mark this year.

    The pet-loving population is estimated to be around 10 million individuals in 4.57 million households. Analysts say that as single or two-person households increase and as the aging population grows, society will see more people raising pets in the future.

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  • FOX Networks Group Asia Acquires Hottest Feature Films At Cannes

    FOX Networks Group Asia Acquires Hottest Feature Films At Cannes

    FOX Networks Group Asia (FNGA), Asia’s leading pay-TV network, shone brightly amongst the stars at the 71st annual Cannes Film Festival earlier this month, walking away with pan-Asian broadcast and streaming rights to some of the festival’s hottest feature films.

    Held from 8 to 19 May 2018 on the picturesque French Riviera, the Cannes Film Festival is one of the year’s most important events for acquiring best-in-class content, as distributors and studios from around the globe compete for rights to the festival’s most promising films. This year, in order to continue serving Asian viewers with the most compelling stories and cinematic content, FNGA secured the rights to broadcast and stream buzz-worthy movies, such as The Kingkiller Chronicle, 355, Ironbark, and Scary Stories to Tell in the Dark.

    These films will be available on FOX Movies Asia and FNGA’s video-streaming service FOX+. FOX+ provides Asia with an unrivalled combination of hit TV series, blockbuster films from the East and West, live sports and thrilling documentaries; all in one place, accessible from any device, at any time and in high definition.

    Acquiring the most talked-about movies is nothing new for FOX Movies Asia, the number one Hollywood movie channel in South East Asia since January 2016.

    In recent years, FOX Network Group Asia has earned a reputation for snagging the best of the best at Cannes. Bringing viewers in Asia a stunning range of stories from top Hollywood names and creative independent producers, previous Cannes acquisitions such as Arctic, The Spy Who Dumped Me, and Robin Hood.

    Keertan Adyanthaya, Executive Vice President, Content & Marketing, APAC for FOX Networks Group said, “As the number one entertainment provider in Asia Pacific, FNGA’s top mission is to deliver the best content and ignite imaginations. We’re constantly searching for new opportunities to bring viewers in Asia the funniest, most thrilling, most dramatic and most emotional stories. By acquiring blockbuster epics, laugh-out-loud comedies and thoughtful independent products at Cannes this year, FOX Movies Asia is maintaining the title of top movie channel in the region and making good on its promise to continually bring viewers in Asia the very best range of premium entertainment. Combined with our video-streaming service FOX+, we are equipped to give viewers’ access to the best and latest content first, whenever and wherever they want it.”

     

  • PC Gamers set to clash at Pakistan’s biggest PC gaming tournament ‘GameBird LAN Clan’

    PC Gamers set to clash at Pakistan’s biggest PC gaming tournament ‘GameBird LAN Clan’

    Telenor Pakistan, through its gaming platform GameBird, is inviting all PC Gamers from Islamabad, Lahore and Karachi to battle it out at Pakistan’s biggest PC gaming tournament ‘GameBird LAN Clan’.

    ‘GameBird’ is the first Gaming Brand of the country that connects developers and gaming enthusiasts to boost and vitalize the gaming ecosystem in Pakistan. In order to bring greater enablement to online players, GameBird recently introduced STEAM Wallet Codes in Pakistan where users can buy games and make in-game purchases on STEAM through their mobile balance. The service is currently available for Telenor users only.

    The tournament, marked by unmatched thrill and excitement will host two major games on STEAM platform i.e. DOTA 2 and CSGO, and will be carried out in three stages; Online Qualifiers, Lan City Qualifiers and the Final Lan Event which is set to take place in the country’s cultural capital Lahore,.

    Qualifying players from Karachi and Islamabad will travel to Lahore to participate in the final event. GameBird will entirely sponsor the cost of the qualifying players’ accommodation and travelling to make their trip a joyful experience. Once locked and loaded, the gamers will be contesting with tooth and nail for the big pool prize of PKR. 500,000 at the final event.

    “We are super excited to organize the biggest gaming event of the country.” said Durdana Achakzai, Chief Digital Officer at Telenor Pakistan while speaking about the tournament. “This will be a historic occasion where PC Gaming enthusiasts will clash for the crown of the best players in the country. Just like many other fields, Pakistan has unmatched talent in the online multiplayer gaming space. However, this sort of a country wide tournament requires suitable support of platforms to help make its mark on a larger level. We have kick started this venture with the backing of a major telco. Telenor Pakistan being the top proponent of digital technology and innovation attempts to fully utilize the opportunities in this field. We are undertaking initiatives to provide a conducive environment for game development and export to supplement the growth of the country’s digital industry.”

    The ‘GameBird LAN Clan’ is the first installment of the series of tournaments GameBird is planning to organize for gamers in the country.

    GameBird is an e-Sports platform for gamers and gaming app developers in Pakistan. The platform host Events, Tournaments, Broadcasts, and provides Reviews and Plays of different games. Gamebird is geared for more initiatives in mobile & PC gaming (tournaments, community meet-ups, etc.) in the near future.

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  • Vietnamese carriers far from world’s cheapest, high fuel costs to blame

    Vietnamese carriers far from world’s cheapest, high fuel costs to blame

    None of Vietnam’s carriers made it to the top 50 list of cheapest airlines by average ticket price per kilometer, according to a 2018 report on global flight price by Melbourne-based transport search engine Rome2Rio.

    The report analyzed about 1.5 million price points for economy-class airfares from Europe, Americas and Asia Pacific as displayed by Rome2Rio during this year’s first two months.

    At the top of the list were Australia’s Tigerair Australia, Malaysia’s AirAsia X and Indonesia’s Indonesia AirAsia at $0.06, $0.07 and $0.08 per kilometer, respectively.

    Meanwhile, Vietnamese carriers are falling behind, with Vietjet Air, Jetstar Pacific and Vietnam Airlines priced at $0.14, $0.15 and $0.30 per kilometer, respectively.

    The report also shows that Vietnam is ranked 15th in the list of cheapest average airfare per kilometer ranked by country.

    Vietnamese carriers’ higher-than-average airfares were due to high fuel costs, said an airline representative.

    “Vietnam’s fuel costs are 20 to 30 percent higher than other countries’,” the representative said. This representative also noted that fuel costs represent the highest percentage in an airline’s total operational costs, at 30 to 40 percent.

    Despite Vietnam’s status as a crude oil exporter, the country still heavily depends on importing refined oil from other countries.

    “Vietnam will not be free of imports of refined fuels, although combined diesel and gasoline imports will halve from about 200,000 barrels per day in 2016,” said Suresh Sivanandam, analyst at energy consultancy Wood Mackenzie.

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  • Made-in-Vietnam woodwork conquering international premium markets

    Made-in-Vietnam woodwork conquering international premium markets

    With high quality and reasonable price, made-in-Vietnam woodwork has made its presence felt in luxury interior design projects worldwide.

    Last year, a team of 70 workers from Vietnam of design and construction company AA Corp were sent to the Caribbean to construct the interior of the luxury Park Hyatt St. Kitts resort. The $16 million project included components on interior design, millwork and loose furniture.

    Dubai based airline Emirates, the largest in the Middle East, also used Vietnamese-made woodwork for the interior of their first class cabins.

    “The U.S., Japan, Dubai, Singapore, Myanmar and Laos all have premium constructions with signature material from Vietnam,” said Nguyen Quoc Khanh, chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA).

    Premium hotel and resort corporations in the world such as Starwood, Accor, IHG, Marriott, Hilton and Fairmont all want to select Vietnamese businesses to design and construct the interior of their buildings, Khanh said, adding that these companies like made-in-Vietnam wood products because of their high quality and reasonable prices.

    With world class craftsmanship, Vietnamese wood businesses can now offer complete five-star woodwork instead of just selling individual products, said Nguyen Chanh Phuong, CEO of Danh Moc Limited Company, which designs kitchens.

    Approaching the high-end segment of the market is what local businesses have been aiming for for years, Phuong said, adding that with improved customer service and advertising, Vietnam can penetrate even further into the premium market.

    Vietnamese wood companies also need to thrive to achieve better product value instead of running after revenue goals and export targets, said Tran Viet Tien, CEO of Lavanto Home Décor, which manufactures a variety of home products.

    Businesses also need to invest more in automation, human resources and design to reach new heights, Tien said.

    Vietnam is currently world’s top five exporter of wood, behind China, Germany, Italy and Poland. Last year, Vietnam exported $8 billion worth of wood and forest products and the country aims to reach a $9 billion target this year.

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