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  • Grab Sees Stellar Rebound with First Full-Year Profit, Propelled by Record Q4 Earnings

    Grab Sees Stellar Rebound with First Full-Year Profit, Propelled by Record Q4 Earnings

    Grab Holdings, a Singapore-based technology firm specializing in transportation, food, and e-commerce solutions, has reported a prosperous full-year profit. This marks a significant recovery from the financial deficit experienced in the previous year.

    Strong Financial Performance in 2025

    In the fiscal year of 2025, Grab Holdings generated revenues to the tune of US$3.3 billion and secured profits amounting to $200 million. This powerful comeback effectively eclipsed the previous year’s losses, which stood at $158 million.

    In particular, the fourth quarter of 2025 proved to be a strong period for the company, with earnings totaling $906 million. This figure represents a 19% year-on-year increase.

    Group CEO and co-founder, Anthony Tan, expressed pride in the company’s performance. “We concluded 2025 on a high note, posting our first full year of net profit and surpassing 50 million monthly transacting users,” he said.

    Looking ahead, Tan affirmed plans to maintain this positive trajectory. “Our strategy for the coming years revolves around expanding our market reach through increased affordability and reliability. We also intend to leverage product-led innovations to enhance ecosystem engagement and boost user lifetime values.”

    Growth Across Various Segments

    The company’s robust financial performance was driven by growth across several business segments. Revenues from deliveries increased by 18% year-on-year, while mobility revenues witnessed a 15% growth.

    Peter Oey, CFO of Grab, voiced optimism about the company’s long-term financial prospects, citing the strong foundation built thus far. “We forecast generating $1.5 billion in Adjusted EBITDA with an Adjusted Free Cash Flow conversion of 80% by 2028. This positions us well to accelerate our platform ambitions while maximizing shareholder value,” he stated.

    $500 Million Share Buyback Program

    Reaffirming its commitment to shareholders, Grab Holdings has unveiled a $500 million share buyback program.

    Questions & Answers

    What was Grab Holdings’ financial performance in 2025?
    Grab Holdings reported revenues of US$3.3 billion and a profit of $200 million in 2025.

    What strategies does Grab Holdings plan to implement moving forward?
    Grab intends to expand its market reach through increased affordability and reliability and plans to leverage product-led innovations to enhance ecosystem engagement and boost user lifetime values.

    What does Grab Holdings’ share buyback program entail?
    Grab Holdings has announced a $500 million share buyback program as part of its commitment to providing shareholder value.

  • Playboy Leaps into Massive China Market: Sells Half-Stake for $122 Million to Local Operator UTG

    Playboy Leaps into Massive China Market: Sells Half-Stake for $122 Million to Local Operator UTG

    U.S. entertainment giant, Playboy, is set to sell half of its Chinese operations to UTG Brands Management Group, a local operator of consumer brands. The deal, worth $122 million, will see UTG take responsibility for managing all operational aspects of Playboy’s enterprise in China, Hong Kong, and Macau.

    Details of the Deal

    The agreed sale price is broken down into various segments. UTG will pay $45 million over the course of two years for a 50% stake in a joint venture for Playboy’s Chinese business. An additional $67 million will be paid as guaranteed minimum distribution payments over eight years. Finally, UTG is set to provide $10 million in brand support payments over the coming three years.

    Playboy, the U.S based company, will retain the remaining stake in the joint venture.

    Investing in the Future

    Playboy has detailed plans to use at least $50 million of the income from the deal to further minimize its financial liabilities. It anticipates an immediate increase in earnings following the completion of the transaction.

    Ben Kohn, CEO of Playboy, stated the collaboration with UTG provides an important opportunity to invest in the brand’s future in China. This strategic move will position Playboy for prolonged, steady growth in one of the world’s most significant consumer markets.

    Wenming Zhang, CEO of UTG Brands Management, explained that the company will utilize a global perspective, coupled with strong local insight, to revitalize and enhance Playboy’s brand appeal. While staying true to Playboy’s roots of gentlemanly leisure, UTG will incorporate the spirit of diversity and innovation that characterizes the modern era.

    The deal is forecasted to be finalized by March 31st.

    Background Information

    Playboy was established in 1953 as a men’s lifestyle magazine before expanding into clothing in 1960. The company entered the Asian retail market in the 2000s. Despite reporting a slight decrease in sales to $29 million in the third fiscal quarter, this new venture promises to bring a fresh approach to its operations in Asia.

    UTG Brands Management is part of the Hong Kong-based United Trademark Group, which manages a portfolio of over 10 brands, such as Jeep, Dickies, and Pierre Cardin, across a dozen countries.

    Questions & Answers

    What does the deal encompass?
    UTG Brands Management Group is acquiring a 50% stake in Playboy’s Chinese operations. The deal, valued at $122 million, involves payments for the acquisition, brand support, and guaranteed minimum distributions over a span of years.

    How will Playboy use the proceeds from this transaction?
    Playboy plans to use at least $50 million of the transaction proceeds to further de-leverage its balance sheet, reducing financial liabilities.

    When is the deal expected to close?
    The transaction between Playboy and UTG Brands Management Group is expected to close by March 31st.

  • Miu Miu Unveils Stunning Redesign at Landmark Atrium Flagship Store, Ushering New Era of Luxury Retail in Hong Kong

    Miu Miu Unveils Stunning Redesign at Landmark Atrium Flagship Store, Ushering New Era of Luxury Retail in Hong Kong

    Miu Miu, the renowned luxury brand, recently christened its revamped flagship store located at the Landmark Atrium. This opening not only showcases a fresh store design concept but also aims to fortify the brand’s presence in the region.

    The New Store Design Concept

    The store now spans about 220 square meters, distributed over two levels. This revamped space mirrors the brand’s latest worldwide retail layout, encompassing dedicated zones for various product categories including ready-to-wear, handbags, footwear, and accessories.

    In addition, the store now houses a private salon for exclusive appointments. This feature underscores Miu Miu’s constant commitment towards providing personalized service and fostering a more intimate connection with its clientele.

    Landmark Portfolio Upgrades

    This reopening aligns with ongoing upgrade efforts from the landlord, Hongkong Land, across its Landmark portfolio. This is part of an overarching strategy aimed at bolstering the precinct’s standing in the high-end retail market of Hong Kong.

    Looking ahead to 2024, an assortment of premier luxury brands like Louis Vuitton and Prada have pledged their participation in a luxury redevelopment project worth US$1 billion, spearheaded by Hongkong Land. The project is slated for a phased roll-out over the forthcoming three years.

    Questions & Answers

    What is the size and layout of the newly redesigned Miu Miu store at the Landmark Atrium?
    The store covers approximately 220 square meters across two floors, with sections dedicated to different product categories like ready-to-wear, handbags, footwear, and accessories.

    What new feature has been added to the Miu Miu store to enhance customer service?
    A private salon has been introduced for personalized appointments, aiming to deepen engagement with clients.

    What is the future plan for the Landmark portfolio of Hongkong Land in terms of luxury retail?
    In 2024, a luxury redevelopment project worth US$1 billion is planned, with commitments from major luxury brands like Louis Vuitton and Prada. This project is expected to further reinforce the precinct’s status in Hong Kong’s high-end retail market.

  • Li & Fung Strikes Gold: Secures Wholesale Distribution Rights for C&C California

    Li & Fung Strikes Gold: Secures Wholesale Distribution Rights for C&C California

    Hong Kong’s premier supply chain manager, Li & Fung, has recently entered into a licensing contract with C&C California. This agreement grants Li & Fung exclusive rights to wholesale distribution across all retail platforms, including full-price, off-price, and club retailers.

    C&C California and its Specialties

    C&C California operates as a part of the larger Established Lifestyle group. The company particularly excels in the design and development of women’s swimwear, sleepwear, and outerwear.

    The newly inked contract will allow Li & Fung to manage and guide the expansion of C&C’s new product ranges and their subsequent distribution process.

    Expansion of Products Range

    In the swimwear segment, the expanded product line will include separate pieces, one-piece swimsuits, and beachwear. Their sleepwear category is also set to grow, with the introduction of separate pieces, coordinated sets, and robes.

    The outerwear products will encompass a range of seasonal styles, varying from light windbreakers to heavier garments like puffers and parkas.

    Brand Expansion and Identity

    Mel Limoncelli, Senior Vice President and head of licensed brands at Li & Fung, stated that this partnership will allow the brand to venture into new product categories while preserving its core identity.

    In his words, “The category expansions remain true to a brand heritage rooted in 70s West Coast culture. Moreover, they continue to embrace the endless summer ideal through comfort, ease of wear, and easy-care fabrics.”

    Questions & Answers

    What is the nature of the agreement between Li & Fung and C&C California?
    The agreement is a licensing contract that provides Li & Fung with the rights to manage the wholesale distribution of C&C California products across all retail platforms.

    How does this agreement benefit C&C California?
    This agreement allows C&C California to expand their product ranges under the expert management of Li & Fung. This expansion includes new lines in swimwear, sleepwear, and outerwear categories.

    What does the expansion mean for the brand’s identity?
    Despite diversifying into new product categories, the brand intends to stay true to its roots, which are embedded in the 70s West Coast culture. The expansion aims to resonate with the idea of an endless summer through comfortable, easy-to-wear, and low-maintenance fabrics.

  • Italian Hatmaker Borsalino Taps into China Market with Shanghai Essence Group: A New Era of Luxury Retail Expansion

    Italian Hatmaker Borsalino Taps into China Market with Shanghai Essence Group: A New Era of Luxury Retail Expansion

    Italian luxury hatmaker Borsalino is gearing up for a significant foray into the Chinese market. This move will be facilitated through a partnership with Shanghai’s Essence Group.

    A Five-Year Plan for Expansion

    A comprehensive five-year plan for development has been constructed, targeting both retail and e-commerce sectors. Instead of an aggressive, large-scale rollout, the partnership intends to gradually establish Borsalino’s brand presence in China.

    The first Borsalino retail location in China is set to open in Shanghai in the first half of this year. This store will be run directly by Borsalino, marking the brand’s debut retail venture in mainland China. The Shanghai store will also act as a reference point for future store openings.

    Details regarding the timeline and number of stores to be opened in key luxury hubs across Greater China are yet to be released.

    Digital Strategy

    In addition to expanding Borsalino’s physical retail presence, Essence Group will also oversee Borsalino’s online strategy in China. A flagship e-commerce store is expected to launch later this year. This digital presence will be further supported by campaigns across various Chinese social media and content platforms, such as Red, Douyin, and WeChat.

    Essence Group’s CEO Alec Hou appreciates the unique appeal of Borsalino, noting how its authority is immediately recognized by discerning consumers across various cultures. He highlights that the partnership aims to respect and safeguard Borsalino’s rich heritage while introducing its relevance to a new generation of Chinese consumers.

    Brand Heritage

    Borsalino, set up in Alessandria in 1857, has built its reputation around its heritage felt hats and is regarded as one of Italy’s oldest operating accessories brands.

    On the other hand, the Essence Group, established in 2000, will add yet another European luxury brand to its portfolio, which already includes globally renowned labels such as Chanel, Prada, Loewe, and La Mer.

    Questions & Answers

    What is the plan for Borsalino’s expansion in China?
    A five-year development plan has been outlined to gradually establish Borsalino’s presence in China, focusing on both retail and e-commerce sectors.

    When and where will Borsalino’s first store in China open?
    Borsalino’s first official store in China is set to open in Shanghai in the first half of this year.

    Which company is partnering with Borsalino for its Chinese expansion?
    Borsalino is partnering with Shanghai-based Essence Group for its expansion into the Chinese market.

  • South Korean Firm The Venture Acquires Majority Stake in Chicken Plus Vietnam, Targets Rapid Expansion

    South Korean Firm The Venture Acquires Majority Stake in Chicken Plus Vietnam, Targets Rapid Expansion

    South Korean investment firm, The Venture, has recently acquired the majority shares of Chicken Plus’ business operations in Vietnam. This is part of their overseas investment project fund.

    Chicken Plus: An Expanding Brand

    Chicken Plus, a renowned fried chicken brand from South Korea, operates under a franchising model. The chain, which was first established in 2016, has seen significant growth in its domestic market with over 500 locations currently in operation.

    In 2019, the brand made its debut in Vietnam and has since expanded to more than 100 locations across the nation.

    Investment Strategy

    The Venture secured its majority stake in Chicken Plus Vietnam through an overseas investment project fund. This fund also includes a key domestic chicken franchise company as a strategic investor.

    The investment firm aims to build on the existing local store network and operational infrastructure of Chicken Plus Vietnam. The goal is to increase its store count to 270 within the next four years.

    Aside from this expansion plan, the company also has plans to establish its own poultry farm. They aim to internalize production, distribution, and sales processes to ensure cost competitiveness and quality control.

    No Changes to Management

    Following the acquisition, there will be no alterations to the existing management or personnel.

    Daehyun Kim, a partner at The Venture who supervises investments in Vietnam, suggests that the acquisition’s primary objective is to enhance asset value. This is to be achieved through the integration of the Korean restaurant system with local infrastructure.

    The Venture firm has a history of investing in logistics data solutions and e-commerce startups, primarily in Vietnam and Malaysia. This latest deal indicates their expansion into the restaurant sector.

    Questions & Answers

    What is the goal of The Venture’s acquisition of Chicken Plus Vietnam?
    The Venture aims to increase the store count of Chicken Plus Vietnam to 270 within the next four years, by leveraging the existing local store network and operational infrastructure.

    What changes will occur after the acquisition?
    There will be no changes to the existing management or personnel after the acquisition.

    What is the investment history of The Venture firm?
    The Venture has a history of investing in logistics data solutions and e-commerce startups, primarily in Vietnam and Malaysia. This latest acquisition signals its expansion into the restaurant sector.

  • Asics Shatters Fiscal Records in 2025: A Year of Exponential Growth and Expansion

    Asics Shatters Fiscal Records in 2025: A Year of Exponential Growth and Expansion

    Asics, a renowned Japanese firm specializing in footwear and apparel, has hit an all-time high in the 2025 fiscal year, demonstrating growth across all aspects of its operation.

    Stellar Financial Performance

    The fiscal year that ended on December 31, 2025, saw Asics garner as much as ¥810.9 billion (US$5.298 billion), marking a 19.5 per cent surge in growth from the previous year. The firm also recorded an operating profit of ¥14.2 billion ($92.8 million), an impressive figure by any standard.

    For four consecutive years, Asics has consistently set new records in terms of net sales and operating profit. Notably, 2025 was the year when the company’s Sport Style and Onitsuka Tiger brands crossed the ¥100 billion milestone in net sales.

    Brand Expansion and Innovative Projects

    Onitsuka Tiger, the luxury lifestyle label hailing from Japan, debuted its flagship stores in notable European cities such as Barcelona, London, and Paris in 2025. This move is part of Asics’ strategy to further strengthen its market presence. Simultaneously, the company has initiated the construction of the Onitsuka Innovative Factory, located in Sakaiminato City.

    Asics reported a 34.7 per cent increase in domestic sales on a year-on-year basis, attributing this to the 84 per cent boost in sales derived from tourists visiting Japan. This surge in domestic growth was mirrored by a 33.4 per cent rise in sales in Southeast and South Asia, underpinned by the opening of a flagship store in New Delhi.

    Despite initial concerns, Asics saw its sales in Greater China grow by 19.9 per cent.

    Supporting Global Athletic Events

    As the official partner of the 2025 World Athletics Championships held in Tokyo, Asics successfully executed targeted product launches in Japan, thereby solidifying its position among runners and athletes.

    Questions & Answers

    How much did Asics earn in the 2025 fiscal year?
    Asics reported earnings of ¥810.9 billion (US$5.298 billion) in the 2025 fiscal year.

    Which brands of Asics surpassed the ¥100 billion mark in net sales?
    Asics’ Sport Style and Onitsuka Tiger brands crossed the ¥100 billion milestone in net sales in 2025.

    What was the percentage increase in Asics’ domestic sales in 2025?
    In 2025, Asics recorded a 34.7 per cent increase in domestic sales from the previous year.

  • Japan’s Takashimaya Set to Unveil Luxury Shopping Mall in Hanoi’s Priciest Starlake Urban Area

    Japan’s Takashimaya Set to Unveil Luxury Shopping Mall in Hanoi’s Priciest Starlake Urban Area

    Japanese retail behemoth, Takashimaya, has announced plans to inaugurate a fresh shopping mall in the latter half of the impending year. The site for this new venture is the Starlake urban area, renowned for having the highest land rates in Hanoi.

    Construction Details

    The proposed shopping centre, stationed on plot C1-CC1 within the Tay Ho Tay (Starlake) urban expanse, will sit on a significant space of over 17,240 square meters. The construction plan is to have the mall feature 10 floors above ground and three basement floors, raising expectations of a spacious and well-planned shopping experience.

    According to predictions, the doors of this new mall could swing open to the public as early as the third quarter of 2027. Starlake’s reputation as the urban region with the highest land rates in Hanoi is expected to amplify the mall’s appeal. Current land prices in prime locations within the Tay Ho Tay urban area are valued upwards of VND114 million (US$4,392) per square meter.

    Previous Plans and Operations

    Takashimaya had previously hinted at its intention to launch a shopping mall in Hanoi, with plans being in place since as early as 2026. Takashimaya Chairman Yoshio Murata has been open about the company’s plans to invest approximately 2 billion yen (US$13 million) in the venture.

    This is not Takashimaya’s first foray into Vietnam. The company has been operating a high-end department store in the erstwhile central District 1 of Ho Chi Minh City since 2016. In addition to this, Takashimaya also runs a shopping complex known as The Loop, which was previously named Indochina Plaza Hanoi.

    Questions & Answers

    Where will Takashimaya’s new shopping mall be located?
    The new shopping center will be situated within the Starlake urban area in Hanoi, recognized for having the highest land prices in the city.

    What is the planned structure of the new Takashimaya shopping mall?
    The mall is expected to consist of 10 floors above ground and three basement floors, promising an expansive shopping area for consumers.

    Does Takashimaya have other operations in Vietnam?
    Yes, Takashimaya has been running a high-end department store in the central District 1 of Ho Chi Minh City since 2016. They also operate a shopping complex in Hanoi, known as The Loop.

  • Singapore Considers Classifying Blind Boxes as Gambling: Potential Impacts on the $11.38 Billion Industry

    Singapore Considers Classifying Blind Boxes as Gambling: Potential Impacts on the $11.38 Billion Industry

    Regulatory authorities in Singapore are currently evaluating whether blind boxes should be classified under the nation’s gambling laws, a decision that could profoundly influence the compliance mandates for retailers in the rapidly developing collectibles market.

    K Shanmugam, the Minister for Home Affairs and Law, stated that the Ministry of Home Affairs and the Gambling Regulatory Authority have examined the sale of blind boxes and are contemplating possible regulatory avenues.

    This evaluation comes on the heels of Singapore’s 2022 regulatory laws on mystery boxes. The authorities are contemplating initiatives like mandating probability disclosures and implementing measures to minimize risks of inducement. The primary focus appears to be on limited-edition figurines, as the government is considering the necessity of compulsory warning labels on blind box series, conveying the likelihood of consumers discovering the most rare items inside.

    In the meantime, the worldwide blind box industry, which was valued at US$11.38 billion in 2021, is projected to nearly double, hitting US$24.2 billion by 2033.

    The uncertainties remain regarding whether blind boxes could be formally incorporated into existing gambling laws or whether legislative amendments would be required.

    Blind boxes, which are sealed packages filled with random toys or figurines, have emerged as a powerful driver of foot traffic and recurring purchases for specialty retailers, toy stores, and mall kiosks. This business model primarily hinges on tiered rarity, with the allure of ‘secret’ or limited-edition variants prompting multiple purchases.

    For retailers, this review indicates potential alterations to product labeling, in-store advertising, and age-related regulations.

    Increased transparency requirements could potentially modify packaging norms and promotional strategies, particularly for businesses targeting youth-centric fan communities.

    Questions & Answers

    What is the current situation of blind boxes in Singapore?
    Singapore’s regulatory authorities are assessing whether blind boxes – sealed packages with random toys or figurines – should be classified under the nation’s gambling legislation, which could potentially change the compliance requirements for many businesses.

    What are the potential changes retailers could face?
    Retailers may need to adjust their product labeling, in-store marketing, and age-related regulations. They might also have to change their packaging norms and promotional strategies, especially those targeting youth-centric fan communities.

    What is the projected growth of the global blind box market?
    The global blind box market, valued at US$11.38 billion in 2021, is expected to almost double, reaching an estimated valuation of US$24.2 billion by 2033.

  • Vietnam Tops Southeast Asia in Pork Consumption: A Look at the Nation’s Soaring Demand

    Vietnam Tops Southeast Asia in Pork Consumption: A Look at the Nation’s Soaring Demand

    Based on a report from the Ministry of Industry and Trade’s Department of Domestic Market Management and Development, Vietnam holds fourth place globally and tops the ranks in Southeast Asia in terms of pork consumption. Forecasts predict that by 2025, each individual in the country will be consuming nearly 39 kg of pork.

    The Role of Pork in Vietnamese Diet

    Pork remains a significant part of diets in Vietnam, as the country’s high consumption rate reflects. In addition, it significantly influences the national Consumer Price Index (CPI). Recent data illustrates a continuous rise in domestic pork consumption annually. In 2021, the average person consumed approximately 30 kg, which increased to around 37 kg in 2024 and further rose to nearly 39 kg the following year. Currently, the consumption of pork makes up over 63% of the total consumption of livestock products.

    Impact on the Market and CPI

    Pork is a food item that significantly affects the food market and the CPI, according to the department. As the Lunar New Year, or Tet, approaches, pork demand typically surges by around 10-15%. Last year, there was strong growth in the livestock industry, producing 8.6 million tonnes of various meats, of which 5.4 million tonnes were pork. This amount is sufficient to ensure an adequate supply for the upcoming Tet holiday.

    Pham Kim Dang, the Deputy Director of the Department of Animal Husbandry and Veterinary Medicine, expressed concerns over a potential supply shortage due to natural disasters and disease outbreaks the previous year. However, she assures that the current pig population of 31.4 million is more than enough to meet the demand for the Tet holiday.

    Current Pork Pricing

    Presently, the market price for live pigs is around VND71,000-74,000 (US$2.73-2.85) per kg. Despite being slightly lower than the previous month, experts consider this price to be still quite high. There were instances in January when the price reached up to VND81,000 per kg, which was unusual.

    Nguyen Xuan Duong, the Chairman of the Vietnam Livestock Association, believes that the prices of pork are swayed by speculative trading and the behaviours of small traders. Pork plays a large part in the Vietnamese consumer basket and is deemed an essential good. Therefore, a significant rise in pork prices could directly impact the people’s livelihoods and the national CPI.

    Questions & Answers

    What is the annual per capita consumption of pork in Vietnam?
    The annual per capita consumption of pork in Vietnam is predicted to reach nearly 39 kg by 2025.

    How does pork consumption affect the Vietnamese economy?
    Pork consumption significantly impacts Vietnam’s food market and the Consumer Price Index (CPI), particularly because it makes up over 63% of the total consumption of livestock products.

    What factors influence the price of pork in Vietnam?
    The price of pork in Vietnam is influenced by speculative trading, the behaviours of small traders, and the supply and demand dynamics, particularly during the Lunar New Year when demand typically surges by around 10-15%.

  • Iconic Prince Coffee House in Singapore Bids Farewell After Half a Century of Serving Delightful Chinese Cuisine

    Iconic Prince Coffee House in Singapore Bids Farewell After Half a Century of Serving Delightful Chinese Cuisine

    The iconic Prince Coffee House, a renowned Chinese restaurant in Singapore, has announced its upcoming closure, marking the end of its half-century-long service. According to the proprietor, Jimmy Lim, the decision to cease operations emerges from his decision to retire. At nearly 90 years of age, Lim has been at the helm of the restaurant’s operations for the past fifty years.

    Scheduled to shutter its doors by mid-2026, the closure coincides with the expiration of the establishment’s lease in July of that year. Lim admits his inability to withstand the strenuous twelve-hour work schedule, a factor significantly contributing to his retirement decision. Additionally, the future of Prince Coffee House remains uncertain, with Lim’s children showing no interest in perpetuating the family business.

    A Glimpse into the Past

    The coffee house, which began its journey at Shaw Towers during the mid-1970s, owes its name to the now-extinct Prince Cinema that previously resided within the same complex. The restaurant’s illustrious past is visible through photographs adorning its walls, capturing memories of numerous celebrities who dined there during its peak years.

    After a thirteen-year tenure at Shaw Towers, the establishment relocated to Coronation Plaza located in Bukit Timah. It continued to serve its customers there for a period of 21 years before moving to its present location on Beach Road nearly a decade and a half ago.

    A Tradition of Excellence

    Despite these numerous relocations, the Prince Coffee House has maintained a steady influx of patrons. Over the years, due to rising costs of living, the restaurant has adjusted its prices periodically, evidenced by layers of updated prices, handwritten and taped over previous ones.

    However, the fare offered has remained consistent over the years, with dishes like oxtail stew and beef hor fun continuing to be customer favorites. Adding to the charm of the restaurant, the plates utilized for serving have a history of their own, with some dating back to the 1970s.

    When queried about his post-retirement plans, Lim expressed his intent to continue his passion for cooking but in the comforts of his home and at his wife’s behest.

    Questions & Answers

    What is the reason for the closure of the Prince Coffee House?
    The owner, Jimmy Lim, has decided to retire due to his advancing age and the demanding nature of running the restaurant.

    When is the Prince Coffee House expected to close?
    The restaurant is scheduled to cease operations in the middle of 2026 when its lease expires.

    What will Jimmy Lim do after the restaurant closes?
    Jimmy Lim plans to continue his love for cooking but will do so at home, focusing on his wife’s culinary needs.

  • Mekong Delta Mango Prices Soar by 33% as Tet Celebrations Approach Amid Low Supply

    Mekong Delta Mango Prices Soar by 33% as Tet Celebrations Approach Amid Low Supply

    The Mekong Delta’s renowned Hoa Loc mangoes are currently being sold at a retail price of VND200,000 (US$7.70) per kilogram, reflecting a surge of 33% compared to the previous year, primarily due to a supply shortage.

    Market Dynamics

    Several retail stores in Ho Chi Minh City (HCMC) have reported difficulties in procuring sufficient quantities of this fruit, which is a traditional component of the Tet (Lunar New Year) fruit tray. As the New Year approaches, larger and more attractive fruits are being sold out rapidly, despite their steep prices.

    Nguyen Thi Loan, a fruit store owner located in the An Hoi Dong Ward of the city, revealed that her daily sales have dropped to approximately 150 kilograms compared to last year’s 200 kilograms during the same period. The availability of other mango varieties has also decreased, subsequently pushing their prices upwards.

    Weather Impact and Export Priorities

    Unfavorable weather conditions have hampered timely fruit-bearing in many large orchards, contributing to the supply-demand imbalance. Nguyen Thi Hong, a mango grower with over a hectare of land in the Mekong Delta province of Dong Thap, claimed that Hoa Loc yields have declined by 20-30% compared to the previous year.

    This reduction in output has inflated both farm-gate and wholesale prices. For instance, at the Thu Duc agricultural wholesale market in HCMC, mango prices have skyrocketed by over 60% since the last Tet, reaching VND130,000 per kilogram.

    A manager at the market also indicated that certain businesses are prioritizing their export orders, thereby intensifying the local supply crunch.

    Questions & Answers

    Why have the retail prices of Hoa Loc mangoes increased significantly?
    The prices have escalated due to a supply shortage, which has resulted from unfavorable weather conditions and lower yields.

    What other factors are contributing to the rise in the prices of these mangoes?
    In addition to the supply-demand imbalance, some businesses are prioritizing their export orders over local supply, leading to a further increase in prices.

    How has this affected the traditional Tet fruit tray?
    The scarcity of Hoa Loc mangoes and their high prices have led to a reduction in sales, impacting the traditional Tet fruit tray which typically includes these mangoes.

  • Malaysian Ringgit on a Steady Rise: Expert Predicts Strong Appreciation Cycle by 2026

    Malaysian Ringgit on a Steady Rise: Expert Predicts Strong Appreciation Cycle by 2026

    MUFG Bank Ltd anticipates that the ringgit will fortify to 3.70 against the U.S. dollar by the end of 2026. This expectation is bolstered by an enduring appreciation cycle fueled by robust structural fundamentals.

    Predictions by Senior Currency Analyst

    Lloyd Chan, the bank’s senior currency analyst, claims that this forecast is rooted in the continuous inflow of investment in the Information and Communication Technology (ICT) sector. Other factors such as macroeconomic stability, supportive governmental policies, and enhanced capital flows also contribute to this prediction.

    Chan notes that there is a vigorous investment cycle currently taking place in Malaysia. This cycle, he believes, underpins the country’s prospects for medium-term economic growth.

    Rise in Investment Approvals

    Investment approvals in the manufacturing and services sectors have risen by 14.7% year-on-year during the first nine months of 2025. Foreign Direct Investment (FDI) has played a significant role in this upswing in capital expenditure.

    According to Chan, this increase signals a revived confidence in Malaysia’s policy framework, infrastructure, and role in regional supply chains.

    ICT as a Major Contributor

    The ICT sector has emerged as the primary contributor to the total approved investments within Malaysia. There has been a noticeable increase in foreign participation in this sector since 2022. Chan points out that the country’s ICT investment approvals experienced a year-on-year surge of about 32% in the first nine months of 2025.

    Macroeconomic Stability

    Chan observes that Malaysia’s macroeconomic stability has reduced risk premiums. Despite the rationalization of RON95 fuel subsidies and adjustments to sales and services tax, inflation has remained under control. This has allowed Bank Negara Malaysia (BNM) to maintain policy stability.

    On February 12, the ringgit ascended to a new high of 3.8995 against the U.S. dollar. This is its strongest level in nearly eight years. The last time it traded in this range was on April 23, 2018, when it was valued at 3.8965/8995 against the dollar.

    Questions & Answers

    What is the forecast for the ringgit against the U.S. dollar by the end of 2026?
    The MUFG Bank Ltd predicts that the ringgit will strengthen to 3.70 against the U.S. dollar by the close of 2026.

    Which sector has been the major contributor to total approved investments in Malaysia?
    The Information and Communication Technology (ICT) sector has been the primary contributor to the total approved investments in Malaysia.

    What factors have contributed to maintaining policy stability in Malaysia?
    The macroeconomic stability of Malaysia, reflected in their controlled inflation despite changes in fuel subsidies and sales and services tax, has allowed Bank Negara Malaysia to maintain policy stability.

  • Thailand’s Lunar New Year Spending to Skyrocket by 5% in 2026: Forecast Reveals Most Vibrant Celebrations in Six Years

    Thailand’s Lunar New Year Spending to Skyrocket by 5% in 2026: Forecast Reveals Most Vibrant Celebrations in Six Years

    The year 2026 is forecasted to observe a surge in market circulation during the Lunar New Year holiday in Thailand, with an estimated value of THB54.2 billion (US$1.75 billion). This anticipated figure would be the highest in six years, indicating an increase of 5% year on year.

    Consumer Spending Predictions

    According to a consumer spending survey conducted by the Centre for Economic and Business Forecasting at the University of the Thai Chamber of Commerce (UTCC), 25% of the respondents anticipate a more animated celebration this year, while others expect festivities similar to the previous year. Interestingly, 43% of the respondents have plans to pay tribute to Chinese gods and offer items of sacrifice to their ancestors.

    Among the participants, a third mentioned plans to increase their spending during the festival, mainly attributing this to escalated prices. However, 35% of the respondents anticipate the prices of products to remain unchanged.

    Perceptions of Market Prices

    Approximately 70% of the respondents believe that the prices of sacrificial offerings, such as meat and fruits, would be higher than last year. A prudent approach was noticed among one-third of the respondents who intended to buy only necessary items, whereas one-fifth planned to reduce their spending compared to the previous year.

    Travel Trends

    A noteworthy portion of the respondents, over 90%, expressed intentions to travel domestically. This indicates that a rise in local travel is expected during the Lunar New Year holiday.

    Economic Outlook

    Thanavath Phonvichai, President of the UTCC, stated that a large number of consumers are optimistic about an economic recovery after the election. This optimism stems from consumers being able to foresee who will spearhead the government’s economic team.

    Interestingly, it was found that more than half of the respondents view the current economy as worse or significantly worse than during the same period of the previous year. They anticipate economic recovery to start in the third or fourth quarter of this year.

    The respondents suggested that the new government should concentrate on enhancing infrastructure, fostering new industries for economic growth, fortifying the grassroots economy, upgrading regional infrastructure to boost tourism, attracting foreign investment, and supporting exporters. These suggestions mirror the concerns of the Thai people towards economic conditions and the necessity for a clear long-term strategy for sustainable economic growth.

    Future Government Initiatives

    The incoming government is expected to take office by May, with significant stimulus schemes projected to be initiated by the third quarter. Phonvichai urged the government to promptly eliminate corruption and crackdown on scams, as these issues significantly affect confidence in the tourism sector.

    Questions & Answers

    What is the estimated value of market circulation during the 2026 Lunar New Year holiday in Thailand?
    An estimated value of market circulation during the Lunar New Year holiday in Thailand in 2026 is THB54.2 billion (US$1.75 billion).

    What is the general outlook of the Thai people towards the economy?
    More than half of the respondents view the current economy as worse or significantly worse than during the same period of the previous year. They anticipate economic recovery to start in the third or fourth quarter of this year.

    What are the key suggestions provided by respondents for the new government?
    Respondents suggested that the new government should focus on improving infrastructure, developing new industries for economic growth, fortifying the grassroots economy, upgrading regional infrastructure to support tourism, attracting foreign investment, and supporting exporters.

  • Vietnam’s Auto Market Zooms Ahead as January Sales Skyrocket by 95%

    Vietnam’s Auto Market Zooms Ahead as January Sales Skyrocket by 95%

    In January, member companies of the Vietnam Automobile Manufacturers’ Association (VAMA) experienced a substantial increase in sales, with 36,875 vehicles sold. This represents a 95% growth from the same time the previous year.

    Breakdown of Sales

    The majority of the sales were passenger cars, with 26,102 units sold, according to data published by VAMA. Commercial vehicles also saw significant sales with 10,312 units, while special-purpose vehicles accounted for 461 units.

    A low-base effect was identified as a major contributing factor to this sharp increase. The latter half of January last year coincided with the lead-up to the Lunar New Year (Tet), a time when Vietnamese consumers typically curb spending on large purchases such as automobiles.

    Domestic Assembly and Imports

    The recovery observed was evenly split between domestic assembly and imports. Sales of locally produced completely knocked-down vehicles rose by 98% year-on-year to 18,034 units, while fully built-up imports saw a 93% increase, reaching 18,841. This narrow difference indicates a robust resurgence in both local production and imported vehicle supply.

    Top Brands

    Ford Vietnam topped the list of VAMA brands with 5,121 units sold, narrowly beating Mitsubishi’s 5,039 and Toyota Vietnam’s 4,852. THACO-distributed brands completed the top five, with THACO Mazda and THACO Kia selling 3,515 and 3,487 units respectively. The leading brands benefited from robust line-ups in SUV, crossover, MPV and pickup segments.

    The most popular models demonstrate a continued consumer preference for high-ground-clearance and multi-purpose vehicles. The Mazda CX-5 was the top seller with 2,104 units, followed by the Mitsubishi Xforce at 1,666. Ford’s pickup and SUV lineup also saw strong sales.

    Market Overview

    The VAMA data only represents part of the overall market, as several non-member brands do not publicly release their sales figures. Hyundai Thanh Cong separately reported sales of 5,872 units, while VinFast, a leading player in the electric vehicle market, has not yet disclosed its January data.

    However, the pronounced growth reported by VAMA members signals improving market conditions. This is likely due to increased consumer confidence, a rise in travel and logistics activity, and a more supportive economic environment.

    Questions & Answers

    What was the main factor contributing to the surge in automobile sales in Vietnam?
    The main factor was a low-base effect due to reduced spending in the same period of the previous year, which coincided with the lead up to the Lunar New Year.

    Which brands led in sales among VAMA member companies?
    Ford Vietnam led in sales among VAMA member companies, followed by Mitsubishi and Toyota Vietnam.

    What does the strong sales growth indicate about the market conditions?
    The substantial growth in sales suggests improving market conditions, boosted by increased consumer confidence, a rise in travel and logistics activity, and a more supportive economic environment.