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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.

  • Tops Thailand parent plans aggressive

    Tops Thailand parent plans aggressive

    Tops Thailand parent Central Food Retail has committed Bt6.5 billion (US$183 million) to open new stores during the next five years.

    At a function marking the Central Group’s supermarket subsidiary’s 20th anniversary this week, president Alistair Taylor said the company plans to add about 70 new stores annually to reach 600 by the end of 2021. It currently has 205.

    “For this year alone, we plan to allocate between Bt1.2 billion and Bt1.3 billion of investment capital in two areas,” he said.

    “Between Bt200 million and Bt300 million will be spent on a system to support our growth. Another Bt600 million will be spent on new stores, and between Bt400 million and Bt500 million on renovations of our existing supermarkets.”

    Central Food Retail operates 85 Tops Market stores, 51 Tops Daily and seven Central Food Hall stores, among other formats.

    The focus of the expansion plan will be rolling out new Tops Daily and Tops Market stores.

    Taylor says the plan will help the company maintain average growth of 10-15 per cent.

    Central Food Retail is also considering opportunities outside Thailand.

    “There are also many opportunities we have seen in neighbouring countries. However, there is no fixed plan decided by the company at this moment.”

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  • The Simpsons store on roll in China

    The Simpsons store on roll in China

    Following the success of the first-ever The Simpsons store in Taikooli Sanlitun, Beijing, more outlets are to be rolled out in China.

    Three will open this year – at Shanghai’s Grand Gateway 66, at Xi An Wu Huan Department Store in Xian, and at Joy City in Beijing, 20th Century Fox Consumer Products and HerChain Clothing Company have announced.

    The stores will feature more than 125 specially curated items related to The Simpsons animated television series.

    “The new locations – in high-traffic city centres and department stores – position The Simpsons store to attract a wide and diverse composition of consumers,” says 20th Century Fox Consumer Products VP for worldwide brand marketing, strategy and partnerships, Peter Leeb.

    The Simpsons is the longest-running scripted show in US television history, launching in 1990 and now in its 28th season.

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  • Lulu opens new hypermarket in Malaysia

    Lulu opens new hypermarket in Malaysia


    UAE-based retail major Lulu Group has opened its first hypermarket in Kuala Lumpur, Malaysia, as part of its plans to further consolidate its retail presence in the Far Eastern region.

    The 250,000 sq ft hypermarket was inaugurated by the Malaysian Prime Minister Datuk Sri Najib Tun Razak in the presence of Dato Sri Dr Ahmed Zahid Hamidi, Deputy Prime Minister, Minister of Agriculture and other government  officials.

    Lulu had recently announced its plans to set up 10 hypermarkets in Malaysia over the next five years at an investment of $300 million.

    The new hypermarket is ideally located in the CapSqaure, Jalan Munshi area of Kuala Lumpur is expected to be one of its kind in the country and will attract large segment of population from all walks of life with its attractive product offers and range.

    It is spread in three levels and combines everything from grocery and supermarkets products to fashion, household and latest electronics and gadgets, said a statement from the retailer.

    Hot food from around the world, fresh seafood and locally grown produce are some of the key highlights in the supermarket area, it stated.

    Speaking at the launch, Najeeb Razak said: “We are very pleased to welcome Lulu brand to Malaysia as this will pave way for more international brands to come and invest in the country. I am also hopeful that Lulu will surely open many more hypermarkets and malls not only in Kuala Lumpur but also in other parts of Malaysia.”

    Yusuff Ali MA, the chairman, said: “With an initial investment of $300 million in the first phase, we plan to open 10 hypermarkets by the end of 2021 and a central logistics and warehousing facility in Malaysia. These projects are likely to generate more than 5,000 job opportunities for Malaysians.”

    “We also plan to set up contract farming to ensure continuous supply of high quality products and to support the Malaysian agriculture sector,” he added.

    Apart from the hypermarkets, Yusuffali also announced the group’s plan to invest another $500 million in setting up the largest shopping mall in Malaysia.

    “Today the whole world knows about Malaysia’s economic stability, investor friendly approach, liberalized policies and world-class infrastructure and we are confident about our success here and our hypermarkets encompass both supermarket and department store formats and we intend to bring a whole new world of shopping to the residents of Malaysia.”

    He added that other hypermarkets would be opening in Kota Baru (Kelantan), Shah Alam (Selangor), Johar Baru, Bangi, Ipoh (Perak), Malacca, Penang and Kuala Terengganu.

    One of the largest retail chain in the Middle East, Lulu currently operates 126 stores across the GCC, Egypt, India, Indonesia and employs more than 38,000 people from different nationalities.

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  • Eslite Spectrum to continue China expansion

    Eslite Spectrum to continue China expansion

    Taiwan’s Eslite Spectrum, which runs bookstores, shopping malls and restaurants, plans to continue adding stores in the greater China market.

    President Wu Wen Chieh told the group’s annual meeting that after extending its reach into Hong Kong in 2012, the company had transformed into a cultural creative brand.

    Wu said the company has 46 outlets in Taiwan, Hong Kong and China through teaming up with cultural creative brands, and plans to enter Shanghai by opening a store this year. Its first China outlet launched in Suzhou in November. Another store is planned for Shenzhen in 2018.

    Eslite has three stores in Hong Kong, and Wu said that the company is studying the feasibility of opening more stores there.

    However, Eslite has closed two stores in Taipei and will shut down two others. Wu said the company is determined to open new stores in Taiwan this year.

    Chairman Wu Ching-yu told shareholders that the company has set its sights beyond the greater China market, with the aim of opening stores in Japan and the US.

    He said two property developers in Japan have made contact with Eslite, but Eslite will expand at a stable pace globally.

    Eslite last year posted NT$3.82 billion (US$118 million) in sales, up 9 per cent from a year earlier, and raked in NT$412 million in net profit, up 11.6 per cent.

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  • Lindt collaborates with DFS Group for HKIA store concept

    Lindt collaborates with DFS Group for HKIA store concept

    Following the success of TFWA Asia Pacific Exhibition & Conference in Singapore, Lindt has opened a shop-in-shop concept with DFS Group at DFS, Hong Kong International Airport.

    The store features the latest Lindt pick and mix in Asia, which for the first time will take the form of an eye-catching wall feature. With clear visibility from across the terminal, the stunning new unit will attract footfall into the shop. The pick and mix concept enables travellers to discover a wide assortment of Lindor chocolate truffles and create their own ideal mix. Eminently suitable for gifting, customers will be able to choose from a range of gift cards to complement their selection and personalise their pick and mix bags. The gift cards are themed to highlight the Hong Kong destination and seasonal events.

    The shop will also feature a bespoke space created for the Lindt Master Chocolatiers where live demonstrations will showcase the Lindt tradition of craftsmanship, artistry and innovation in the later part of 2016.

    Commenting on the partnership, DFS Group’s Senior Vice President Food and Gifts, Thierry Canivet, said, ‘DFS continuously strives to create shopping experiences that surprise and delight our customers and we are proud to partner with Lindt to do just that with the new shop-in-shop at DFS, Hong Kong International Airport. This engaging approach to the food and gifts segment will provide travellers with a lasting memory of their travels and we look forward to what we are confident will be a successful new take on this exciting category.’

    Peter Zehnder, head of the Lindt & Sprüngli global duty free division, said that the Asian market clearly presents the travel retail sector with considerable opportunities, and this new venture was the first of a series of innovative initiatives to capitalise on this potential. ‘We are delighted to have launched our latest shop-in-shop concept in Asia and believe that there is a huge opportunity for Lindt in the region. Our well-known brand of premium chocolate offers a wide range of bestseller products, a continual flow of innovations and strong activations beyond ordinary price-offs to drive category sales.’

  • Amazon chooses Oregon for latest offline store

    Amazon chooses Oregon for latest offline store

    Online retail giant Amazon has decided on Oregon as the location of its third brick and mortar store.

    The new store will open at the Washington Square mall just outside Portland, in what US media describe as a “bookish metro area” – Tigard.

    The retailer appears to be choosing sites which house Apple stores and are frequented by university students.

    Amazon’s first bookstore opened in Seattle’s University Village mall and its second in San Diego’s Westfield UTC mall.

    amazon-books-washington-squarejpg-8af21425db3e2dba

    While Amazon describes its stores as bookstores, John Mutter, editor of bookseller newsletter Shelf Awareness, prefers to call it “an electronics store that sells books”.

    “It has a very misleading name,” he said.

    One of the US’ much-loved specialist bookstores Powell’s Books is headquartered in Portland and CEO Miriam Sontz told USA Today it was no surprise Amazon should choose the city for one of its first physical locations.

    “When asked why he robbed banks, Willy Sutton reportedly replied ‘because that’s where the money is.’ I am certain that Amazon has the data to show that opening a store in the Portland area will be financially beneficial to the company,” she said.

    Mutter predicts Amazon will open 12 to 18 stores over the next two years or so.

  • Foreign Investment into Tobacco Industry Banned in China

    Foreign Investment into Tobacco Industry Banned in China

    The Ministry of Industry and Information Technology (MIIT) has recently issued regulations regarding retail of tobacco products in China. The new regulations stipulate that foreign invested commercial enterprises or individual business households are not permitted to engage in tobacco wholesale or retail business, nor engage in trading of tobacco monopoly products in alternative forms such as franchise, absorption of franchise stores or other re-investment, etc. The Measures for Administration of the Tobacco Monopoly License and Measures for Administration of Shipment Permit of Tobacco Monopoly Products will both become effective as of July 20, 2016.

    Shanghai Issues Notice on the List of Automatic Preferential Tax Policies

    Shanghai Municipal State Tax Bureau and Shanghai Municipal Local Tax Bureau has released a notice outlining and clarifying eight preferential tax policy matters which do not require additional materials to apply for. They are as follows:

    • Deduction/reduction of VAT for purchase of special equipment for the VAT control system.
    • Exemption of small sized and micro profit enterprises from VAT.
    • Exemption of ticket income of science halls, natural museums, science & technology education bases and science & technology education activities from VAT.
    • Exemption/reduction of enterprise income tax on qualified small sized and micro profit enterprises.
    • Accelerated depreciation or remuneration for fixed assets or software purchased.
    • Accelerated depreciation or one-off deduction of fixed assets.
    • Preferential stamp tax during the restructuring process of an enterprise.
    • Preferential stamp tax on loan contracts concluded between small sized and micro enterprises.
    State Council Issues the Guiding Opinions on Cutting Overcapacity in the Non-Ferrous Metal Industry

    The General Office of the State Council issued “Guiding Opinions on Creating a Favorable Market Environment to Promote Structural Adjustment, Transformation and Increases in Benefits in the Non-Ferrous Metal Industry (Opinions),” which addresses dealing with overcapacity problems in the non-ferrous metal industry. The Opinions consists of 15 articles, making detailed directives for key tasks and policy assurance, stressing that work should be done to cut overcapacity and disposal of surplus material in accordance with the laws and regulations, and guide the transfer of non-competitive capacity.

    The Opinions states the key tasks as including: strict control of newly-added capacity and investigation and management of newly-built electrolytic aluminum projects in violation of the regulations; quickening of disposal of excess material, dealing with overcapacity in accordance with the laws and regulations and guiding the transfer of non-competitive capacity; stepping up technological innovation, pushing forward intelligent manufacturing and development of refined processing; expanding market applications, enhancing upstream and downstream cooperation and improving relevant product standards; improving reserves systems; actively promoting international cooperation, etc.

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  • Singapore Cruise Centre launches duty free tender

    Singapore Cruise Centre launches duty free tender

    Singapore Cruise Centre Pte (SCCPL) is inviting interested companies to tender for the development and operation of the duty free and general merchandise concession contract at the Harbourfront and Tanah Merah terminals for a period of five years (with an option to extend for another two years).

    The SCC confirmed that it is investing in the redesign and upgrade of its commercial offer at both terminals, with expansion and reconfiguration of the main retail space in the departures and arrivals areas.

    The new contract up for tender will govern 542sq m of retail space, serving over 6.3m ferry passengers and 560,000 cruise passenger annually.

    The SCC has also decided to consolidate several separate contracts for the existing duty free concessions (including liquor & tobacco, perfumes & cosmetics, fashion & travel accessories and confectionery), into a single contract, to run for five years with a two-year extension option, commencing 1st April 2017.

    The contract will govern 542sq m of retail space, serving over 6.3m ferry passengers and 560,000 cruise passenger annually.

    Singapore-Cruise-Centre-logo

    BULLISH PROSPECTS FOR CRUISE INDUSTRY

    Singapore Cruise Centre CEO Christina Siaw released this statement: “It is an exciting time for SCC as we launch our first public duty free retail tender, amid bullish prospects for the cruise and ferry industry in Asia Pacific.

    “We are committed to driving passenger growth in our terminals and retail is a key contributor to overall passenger satisfaction. We seek an experienced, world-class duty free retail operator to partner us in developing a unique, integrated shopping destination that optimises commercial revenues at our terminals.”

    The tender is open to companies with ‘relevant experience in duty free retailing’ until 30 June, when all RFQs must be submitted.

    One of the incumbents, DFS Singapore currently operates the departure-transit and arrivals transit shops alongside the SCC’s Ocean Duty Free outlets, which are operated by Gebr Heinemann.

    In March earlier this year, the Singapore Tourism Board (STB) reported that the country witnessed encouraged growth in the cruise and business segments as the Singapore Cruise Centre (SCC) was named the number one cruise port in Asia in 2015.

    As previously reported, the latter incumbent operator, Heinemann opened its third (157sq m) Ocean Duty Free store in Singapore’s HarbourFront Ferry Terminal in January 2015.

    This follows the earlier opening of its first two outlets at the Tanah Merah Ferry Terminal in March 2014.

    SCC-HarbourFront-exterior---Cruise

    Heinemann opened its third (157sq m) Ocean Duty Free store in Singapore’s HarbourFront Ferry Terminal in January 2015.

    The deadline for the RFQ submission is Thursday 30 June, 4pm (SGT), deposited into Tender Box A in the reception area at Singapore Cruise Centre Pte Ltd, 1 Maritime Square (Lobby D), #07-01, HarbourFront Centre, Singapore 099253.

    “SCCPL does not bind itself to accept any tender nor the highest bid,” the SCC states on its website.

    In March earlier this year, the Singapore Tourism Board (STB) reported that the country witnessed encouraged growth in the cruise and business segments as the Singapore Cruise Centre (SCC) was named the number one cruise port in Asia in 2015.

    Tanah-Merah-Ferry-Terminal-Singapore

    Heinemann opened two outlets at the Tanah Merah Ferry Terminal in March 2014.

    Interestingly, the cruise industry saw a 14% year-on-year increase in cruise passenger throughput last year to more than one million.

    In addition, the country welcomed a total of 385 cruise ships, including international cruise brands such as TUI cruises, and Royal Caribbean, as well as nine maiden calls – new to Singapore and Southeast Asia.

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  • Father’s Day call for men’s health service

    Father’s Day call for men’s health service

    A legislator has called on the government to set up a men’s health-care service that combines physical and psychological treatment to help middle-aged men with sexual health problems.

    Civic Party lawmaker Kwok Ka-ki, a urology doctor, made the call on Father’s Day.

    Many men aged 30 or above are faced with diseases of the reproductive system, including erectile dysfunction and benign prostatic hyperplasia, Kwok said.

    He noted that there used to be a male health department in Kwong Wah Hospital, a public hospital in Yau Ma Tei, during the 1990s, but the services were withdrawn due to a lack of resources.

    Health-care centers for men are run by the nonprofit Family Planning Association of Hong Kong in Tsuen Wan, Wan Chai and Ma Tau Chung.

    “The male health services provided by the Family Planning Association of Hong Kong are not cheap. A tablet to treat erectile dysfunction could cost up to HK$100. Grassroots citizens may not be able to afford it,” Kwok said.

    While Kwok urged the Hospital Authority to set up male health centers, he also advised the government to integrate counselling services into the men’s health-care services.

    “Most cases of sexual dysfunction in men are caused by psychological problems, such as stress from work and family, and can be treated with sex therapy,” he said.

    Kwok said health clinics with sex therapy services are very common in Europe and America.

    “When men go to see urology doctors in Hong Kong, they can only get assistance on their physical health, but not on their sexual or marriage problems.”

    Kwok suggested the government set up combined clinics, offering, for example, one-stop urology diagnostic services and sex therapies for men.

    Meanwhile, people celebrated the hottest Father’s Day yesterday in 55 years inside air-conditioned malls shopping, boosting retail store sales.

    The Hong Kong Observatory issued the very hot weather warning at around 7am. It recorded a temperature of 34.2 degrees Celsius at around 2pm, making yesterday the hottest Father’s Day since 1961.

    A salesman at electrical goods chainstore Fortress in Tai Koo Shing said the sales volume has increased by 30 percent this year, with most families purchasing mobile phones in the mid- price-range, HK$2,000 to HK$3,000.

    “Although the increase is pretty similar to that of last year, it is still better than that on Mother’s Day,” he added.

    Catering businesses seemed to be benefiting from the day as well.

    House of Canton, a traditional Chinese restaurant at Cityplaza, said the first round of their tables at 6.30pm had been fully booked, with only a few tables left for the second and third rounds.

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  • Changi airport seeks T3 speciality retail partners

    Changi airport seeks T3 speciality retail partners

    Changi Airport Group (CAG) is seeking retail partners to operate speciality/brand name concessions at Singapore Changi airport terminal three departure/transit lounge north.

    Concession A spans around 78sq m, while Concession B covers 62sq m. The Concession A contract period is three years, beginning March 9 2017 and ending March 8 2020. For Concession B, the tenancy period is also three years, starting on May 9 2017 and ending on May 8 2020.

    According to CAG, all product categories may be considered, except liquor and tobacco and perfumes and cosmetics.

    CAG added: “We are looking for unique and exciting brands and concepts that are currently not represented at Singapore Changi airport terminal three and will inject buzz and differentiate the retail offerings.”

  • UnionPay Expansion Plan With Duty-Free Shopping Privileges

    UnionPay Expansion Plan With Duty-Free Shopping Privileges

    UnionPay International (UPI), an international payment network, has launched the 2016 Global Airport Campaign, its third edition since the inaugural annual campaign in 2014. This year’s Global Airport Campaign is the largest to date, featuring 120 participating duty-free shops at 80 airports, including 16 of the busiest airports across the world. Duty-free outlets located at the Heathrow Airport in London, United Kingdom, Haneda International Airport in Tokyo, Japan, and Chicago O’Hare International Airport in the United States of America are some of the notable inclusions in this year’s campaign.

    As part of the 2016 Global Airport Campaign, UnionPay Cardholders with card numbers starting with “62” can enjoy exclusive shopping discounts, complimentary gifts and more at airports located in 28 countries and regions in Asia Pacific, the Middle East, Africa, Europe and America. Top duty-free groups in the world, including Dufry, DFS, Lotte Duty Free, World Duty Free Group, The Shilla Duty Free Group, Everrich Duty Free, King Power, Blue Sky and China Duty Free are also on board the campaign to offer special shopping privileges to UnionPay Cardholders at participating outlets across the world.

    “We are delighted to launch our biggest ever Global Airport Campaign this year, with participation by over 120 duty-free shopping outlets globally. Over the years, the Global Airport Campaign has seen tremendous growth in size and in scale. This year, the number of participating outlets has doubled that of 2014, with new duty-free groups such as Blue Sky and Loop Duty Free coming on board for the first time. This is testament to the effectiveness of the campaign in boosting traveler spending, and we hope that shoppers will continue to benefit from this campaign and enjoy wonderful shopping experiences at all their favorite destinations across the world,” said Wenhui Yang, General Manager of UnionPay International Southeast Asia.

    In Singapore, the participating duty-free outlets are DFS and The Shilla Duty-Free. Starting this month, shoppers can enjoy up to 5 percent in discounts and vouchers, and participate in lucky dips to win additional shopping vouchers when they pay with their UnionPay cards at Shilla Duty-Free and DFS stores.

    UnionPay Cardholders in Singapore can also enjoy special discounts and privileges at their favourite Asia Pacific destinations such as Bangkok, Bali, Hong Kong, Tokyo, Seoul, Taipei, Kuala Lumpur and London, just to name a few.
    Other participating cities offering exclusive duty-free shopping privileges for UnionPay cardholders include Barcelona, Cape Town, Osaka, Los Angeles, Madrid, Moscow, New York, Paris, Rome, San Francisco and Toronto.
    For the full list of participating duty-free outlets and details of the privileges.

    UPI focuses on supporting the growth of UnionPay’s global business. With an acceptance footprint covering 157 countries and regions globally, UnionPay serves the world’s largest cardholder base by providing quality, cost-effective and secure payment services to over five billion cardholders worldwide.

    In Singapore, UnionPay enables efficient and cost-effective payment services that are tailored to the needs of local businesses and consumers. UnionPay cards are accepted at over 80 percent of retail, lifestyle and food and beverage establishments locally, as well as at almost all the automated teller machines (ATMs) across the island.

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  • Visa launches #notatourist platform to attract travelers to Thailand with the help of locals and social media

    Visa launches #notatourist platform to attract travelers to Thailand with the help of locals and social media

    Travelers looking to experience Thailand like locals can now find ideas and inspiration in Visa’s #notatourist platform. The “Visa #notatourist: See Thailand through Local Eyes” campaign aims to woo residents to share the many local experiences that otherwise might elude travelers on the conventional path.

    The campaign rallies residents in Thailand to share photographs of the different things to do, food to eat, and places to see on social media, namely Instagram and Facebook. With hashtags #notatourist and #VisaThailand, the selected photos will go on Visa’s dedicated website at www.visa-promotions.com/notatourist/TH/. A panel of judges will then select ten to print, creating a total of 100,000 postcards – the quintessential travel souvenir – to be distributed by Tourism Authority of Thailand (TAT) and Visa around the world. There will also be lucky draw for participants at the end of each month within the activity period.[1]

    As one of the most popular destinations in the world[2], with 28 million international visitors last year[3], Thailand’s famous sights and sounds are well-known. While the usual tourist attractions such as Grand Palace and dishes like Pad Thai are worth revisiting, Visa believes that Thailand has more to offer – particularly when recommended by locals.

    Suripong Tantiyanon, Visa Country Manager, Thailand said: “This is an opportunity for people of Thailand to share unique aspects of the country for visitors looking to venture off the beaten path. Visa recognizes the changing expectations of today’s travelers and their reliance on social media when visiting new places. The #notatourist platform will help unearth new ways to discover hyper-local experiences.”

     

    Complementing existing partnership with TAT, #notatourist platform aims to guide travelers to navigate local experiences, customs and cuisines – all things Thais hold dear but otherwise might be off the radar to some visitors. Residents of Thailand are encouraged to share their favorite places, restaurants, and activities on the social media platform.

    The campaign is part of Visa’s #notatourist initiative, launched globally this year. As one of the most popular travel destinations in the region, Thailand is the first country in Southeast Asia to run this platform.

    “This is our chance to redefine how Thailand will look to visitors in the next ten years and we at Visa are excited to open this up for everyone to participate,” added Mr. Suripong.

    [1] Terms and conditions apply

    [2] In 2015, Thailand ranks 14th in the world on number of international tourist arrivals and 9th in the world for international tourism revenue, according to the latest figures from the UN World Tourism Organization (UNWTO)

    [3] The number of tourist arrivals announced by Tourism Authority of Thailand in their official website on December 2015. (https://www.tatnews.org/thailand-tourism-hitting-record-highs-with-the-arrival-of-the-28-millionth-tourist-for-2015/)

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  • Thailand still a hot destination for package bookings

    Thailand still a hot destination for package bookings

    During the 12 months ending in the first quarter of this year, on average, the booking window of international travellers to Thailand stretched over a month (36 days), |with an average length of stay per booking at three days, according to a survey by |online travel company Expedia group.

    Year-on-year growth shows top destinations in Thailand are Pattaya (up 70 per cent), Bangkok and Chiang Mai (up 60 per cent), Phuket (up 55 per cent) and Koh Samui (up 50 per cent).

    Smaller regions on the rise with eye-catching triple-digit growth include Koh Lipe, Northeastern Thailand, Rayong, Trat and Hat Yai.

    Data from the same period showed that package bookings generated a booking window more than 1.5 times as long as stand lone hotel bookings. In addition, cancellation rates of packages are also much lower compared with standalone bookings.

    Top package-generating markets include Malaysia, Hong Kong, Australia, Singapore and Japan.

    “Delivering global demand for Thai hoteliers is a mission for us,” said Pimpawee Nopakitgumjorn, director of market management at Expedia group. “In particular, Expedia package bookings are attractive because they are a great way for hotels to build a strong base of customers without eroding their retail rates. Last year alone, we sold [more than] 7.1 million packages globally.”

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  • King Power buys 39% stake in Thai Air Asia

    King Power buys 39% stake in Thai Air Asia

    King Power, the Thai duty-free conglomerate, has bought a US$225 million (S$305 million) stake in Thai Air Asia, the country’s largest budget airline.

    The purchase allows King Power’s billionaire owner Vichai Srivaddhanaprabha to further tap into Thailand’s booming tourism industry and expand beyond his duty-free and hotel portfolio.

    Thai Air Asia is 55 per cent owned by Asia Aviation, a Thai company, with the rest held by the Air Asia group founded by Malaysian entrepreneur Tony Fernandes.

    AirAsia Group Chief Executive Officer Tony Fernandes speaks during a press conference in Kuala Lumpur, Malaysia, Monday, Aug. 11, 2014. AirAsia launched its new "Premium Flex" services providing benefits to travellers. (AP Photo/Vincent Thian)
    AirAsia Group Chief Executive Officer Tony Fernandes speaks during a press conference in Kuala Lumpur, Malaysia.

    King Power’s purchase of 39 per cent of Asia Aviation from its chief executive (CEO) Tassapon Bijleveld makes it the second largest shareholder of Thai Air Asia.

    Mr Bijleveld, who also serves as Thai Air Asia CEO, will keep 5 per cent of the shares and stay on as chief executive of Asia Aviation, King Power said in a statement yesterday, with the rest of Asia Aviation’s stock owned publicly.

    King Power CEO Aiyawatt Srivaddhanaprabha yesterday said the purchase represents new business opportunities.

    The group will join forces with Thai AirAsia to expand its distribution and retail business, he said.

    The King Power statement also said it was able to snap up the shares at a price “substantially lower” than the market rate because local airlines must legally be more than 50 per cent owned by Thais.

    “Given the restrictive nature of such rules, there are only a handful of Thai individuals who, realistically, would be interested in and could afford the purchase,” it said.

    Polo-loving Mr Vichai, 58, has carefully navigated Thailand’s treacherous political waters of recent years, while taking his King Power empire from strength to strength.

    He has built an estimated fortune of US$2.9 billion since establishing the firm in 1989 – starting with a single shop in Bangkok.

    He hit the jackpot in 2006 when King Power won a monopoly duty- free concession at Bangkok’s cavernous new Suvarnabhumi airport, and with it a captive market of tens of millions of travellers.

    He has since gone on to buy British football club Leicester City, which made history when it won this season’s Premier League.

    Last year, Thai Air Asia carried 14.8 million passengers, and it plans to serve 16.9 million this year. It has said it wants to expand in markets across South-east Asia, China and India.

    King Power said it plans to spend 12 billion baht (S$461.5 million) on buying the remaining 60 per cent of Asia Aviation.

    Mr Vichai’s group is required to make a mandatory offer for Asia Aviation shares it does not already own, the company said on Monday.

    Before the sale, the Thai management had a combined 45 per cent of Asia Aviation.

     

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  • $14m boost for PMETs to start new careers

    $14m boost for PMETs to start new careers

    An extra $14 million per year has been set aside for two years to help professionals, managers, executives and technicians (PMETs) who want to start new careers in sectors such as retail, food services and events, Manpower Minister Lim Swee Say said yesterday.

    This means a total of $40 million per year, up from $26 million previously, will be available to fund course fees and salary support through Professional Conversion Programmes (PCPs) from now until mid-2018.

    Mr Lim said the PCP initiative will be “critical” in minimising the gap between job opportunities and workers’ existing skills, which will grow as economic restructuring picks up pace.

    “A growing number of PMETs will find that their job experience and their job expertise in some cases may no longer be directly relevant to the job opportunities of the future,” he said, speaking to media at a career fair at the Lifelong Learning Institute in Paya Lebar.

    “More and more of them will have to learn new skills and start a new career in areas they may not be familiar with.”

    PMETs tend to make up a higher share of laid-off workers than their share of the resident workforce, according to Manpower Ministry data. The average PMET also takes longer than the average resident to get back into a job after being laid off.

    Four new PCPs were launched yesterday by the Singapore Workforce Development Agency (WDA) to provide job placement and skills training support for up to 80 retail store managers, assistant chefs, restaurant managers, project executives and assistant project managers each year. Information about applying for the programmes can be found on the WDA website.

    The additions bring the total number of PCPs to 31 across 14 sectors. By 2018, there will be programmes in 20 sectors, as part of the Adapt and Grow initiative announced in this year’s Budget.

    The WDA said it aims to help a total of 10,000 Singaporeans and permanent resident PMETs by then, up from the 7,000 already placed through PCPs so far. More programmes in sectors such as aerospace and public transport will be rolled out over the next few months.

    Some 25 industries, which contribute around 80 per cent of Singapore’s gross domestic product, are being transformed, and both employers and employees must adapt, said Mr Lim.

    Yesterday’s career fair was part of the first Adapt and Grow Career Series of fairs and workshops running this month with 3,000 jobs for Singaporeans and PRs, 1,200 of which are for PMET positions. The series will be held quarterly.

    Several employers at the fair who are offering roles under the new PCPs said they would consider moving staff up to managerial positions if they performed well in the entry-level role they are initially hired for.

    “After three months, we will evaluate and if they are very interested in other aspects of the business such as outlet management, we will look at opportunities for them,” said Mr Wong Wei Teck, 59, managing director of Soup Restaurant Group, who was on the lookout for operations staff such as assistant chefs.

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