Retail News CRM

Tag: asia

  • myOKIES: QR menu for order and pay

    myOKIES: QR menu for order and pay

    myOKIES has launched a digital contactless service for Vietnamese businesses, enabling customers to order and pay for purchases directly from their cell phones using a QR code.

    Customers can scan the code using their smartphone camera, which will take them to the myOKIES page where they can select their items and pay using a variety of payment methods, including 21 different e-wallets, all types of debits, credit cards, and cash.

    myOKIES has 136 languages available for customers, enabling businesses to expand their international customer base easily and effectively.

    The benefits of the myOKIES service extend beyond convenience, as it eliminates the need for customers to physically touch a menu or paper receipt, thereby reducing the risk of transmission of viruses and other germs, protecting the environment with a paperless focus, and enabling sustainability for businesses.

    Moreover, customers can use the myOKIES platform to reserve tables and appointments and purchase products in-store and online by accessing the myOKIES website or the myOKIES app.

    myOKIES is also known for its simple yet elegant design, which is reflected in its mobile application and website. The platform’s design is consistent with myOKIES’ overall brand identity, which emphasizes simplicity, efficiency, elegance, and ease of use.

    Its QR code ordering and payment feature also offer a unique lifestyle experience for the young generation, who are always on the lookout for new ways to enhance their daily lifestyle.

    Jalen Phung, CEO of myOKIES Vietnam, understands the importance of serving the younger generation’s lifestyle preferences. “We recognize that the younger generation is looking for new and innovative ways to enhance their daily activities, and we are excited to offer them a solution that is both convenient and visually appealing.”

    myOKIES service is not limited to just the food industry and can be utilized by any business from mid- to high-end that wants to provide their customers with a secure and convenient way to make purchases, including retail businesses and other service businesses like spas, coffee shops, business lounges, furniture stores, and in-room dining for 5-star hotels and resorts, which are myOKIES target business partners.

    myOKIES QR code for ordering and payment service is an outstanding example of how technology can enhance the customer experience and help businesses grow in the most efficient way. With its easy-to-use platform and seamless features, it’s a service that is sure to continue gaining popularity among businesses and customers alike.

    Lees ook:

    Lees ook:

    Lees ook:

  • Gold prices reach new peak in 2023

    Gold prices reach new peak in 2023

    SJC gold price surged 0.36% to VND68.9 million ($2,858.92) per tael Friday morning, a new peak this year.

    Gold ring price went up 0.26% to VND57.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

    Globally gold prices firmed on Friday but were set for a weekly decline as the dollar and Treasury yields held firm with strong U.S. economic data raising concerns of the Federal Reserve keeping interest rates higher for longer.

    Spot gold was up 0.2% at $1,922.87 per ounce, but set for a 0.8% weekly fall. U.S. gold futures rose 0.2% to $1,946.90.

    The dollar was headed for its longest weekly winning streak in nine years, bolstered by a resilient run of U.S. economic data.

    Lees ook:

  • FPT Telecom becomes Cloudflare’s official distributor

    FPT Telecom becomes Cloudflare’s official distributor

    FPT Telecom has reached a cooperation agreement with Cloudflare to provide solutions to Vietnamese businesses’ network security problems.

    The cooperation was announced at FPT Tower, Hanoi, on September 5, with the attendance of representatives from both sides, including Vu Anh Tu, CTO of FPT Corporation; Tran Thanh Hai, CTO of FPT Telecom; Tran Hai Duong, Chairman and CEO of FPT Telecom International (FTI); Do Anh Tuan, Director of FPT Telecom International’s Business Division; Karun Ruamsuke, Cloudflare’s Head of Indochina, Thailand, PHL; Mai Thi Ngoc Tu, Cloudflare’s Indochina Sales Lead; and Tan Ghim Hwee (Ghims), Cloudflare’s ASEAN Channel Account Manager.

    There were also solution experts, many guests from government agencies, and senior leaders in technology and financial companies.

    Duong said that FPT Telecom has officially become Cloudflare’s distributor in Vietnam, Laos, and Cambodia. This marks a crucial step forward in the company’s Go Global strategy.

    The event also plays an important role in helping businesses in the region optimize their website’s access speed, enhance security, and reduce operation costs.

    FPT Telecom, with a large customer base and proven ability to deploy cloud computing services through many typical case studies in the banking and finance sectors, can advise on and deploy security solutions for all customers in all industries.

    Becoming Cloudflare’s first official focused distributor in Vietnam, Laos, and Cambodia also helps FPT Telecom deliver the best support to customers in terms of technology and cost optimization.

    Accordingly, FPT Telecom will provide enterprises with two main product groups: Cloudflare SME for small and medium enterprises with optimal performance and cost; and Cloudflare Enterprise, which provides the full range of Cloudflare product groups (network, application, zero trust, developer services) and tailor-made solutions to meet the unique service requirements of customers.

    Karun, a Cloudflare representative, also shared his sincere thanks and affirmed the importance of the solid cooperative relationship between Cloudflare and FPT Telecom. It is strengthening its position as a leading telecommunications supplier and bringing advanced cloud technology and cloud security solutions to customers.

    FPT Telecom is committed to bringing various benefits and excellent experiences to customers using services from Cloudflare based on their strengths in deploying and providing solutions for large customers; having connections with network operators in Vietnam with the largest PoP placed at FPT Telecom; owning an experienced technician team with more than 40 Cloudflare certified engineers who are available to support anytime, anywhere; and being adequately qualified to be Cloudflare’s Level 1 support in Vietnam.

    Established in 2009 with headquarters in San Francisco, California, USA, Cloudflare is a technology company specializing in security solutions, DDoS attack prevention from layer 3 to layer 7, and global network infrastructure.

    Cloudflare is one of the leading security and privacy service providers in the industry with the largest infrastructure capacity compared to any similar providers, with infrastructure in over 300 cities in over 100 countries, including China with more than 30 POPs.

    The company aims to build a more sustainable and secure Internet environment for everyone. It meets the flexible requirements of any customer with diverse solutions such as security, optimization, and acceleration for websites and applications; it provides an all-in-one solution for network scalability and security; data storage; and developer timeline improvement.

    FPT Telecom Joint Stock Company (FPT Telecom) is one of the region’s leading telecom and Internet service providers. Established on January 31, 1997, the Online Service Center was founded by four members with the first Internet product from Vietnam, called Vietnamese Wisdom (TTVN).

    The product is considered the foundation for Internet development in Vietnam.

    With the pioneering mission of bringing the Internet and connection to the Vietnamese people, along with the great desire for every Vietnamese family to use at least one service of the company, FPT Telecom is making efforts to implement the strategy “Bringing the Best Experience for Customers” on the basis of promoting the core cultural value of “customer-centric” and the foundation of FPT technology power, thereby pioneering to become a digital service provider with the most outstanding customer experience nationwide.

    FPT Cloud Hub is an ecosystem of applications and services surrounding cloud computing developed by FPT Telecom International Co., Ltd. (FTI).

    The company provides advanced, quality solutions specifically for businesses in Vietnam and the region, with the top criteria being: increasing the application experience of businesses and their customers; optimizing costs of equipment, infrastructure, and cloud computing platforms; and supporting the building and conversion of systems from classic platforms to advanced cloud computing infrastructure.

    Lees ook:

  • Accolade sells House of Arras to Handpicked Wines

    Accolade sells House of Arras to Handpicked Wines

    Accolade Wines has sold its subsidiary brand House of Arras to the Australian company Handpicked Wines, as part of its plans to focus on major markets.

    The deal, which will be completed before the end of November, comprises the House of Arras brand, 24 hectares of prime vines, stock, the Bay of Fires winery, and a cellar door in Pipers River, Tasmania.

    According to Accolade Wines CEO Robert Foye, House of Arras is a luxury brand that does not mesh well with the rest of the company’s portfolio priority areas at this time.

    In addition, Accolade has entered into a long-term arrangement with Handpicked Wines to continue producing and bottling all House of Arras labels.

    The wines will be produced at Accolade network facilities, including Torresans in Woodside, South Australia, and the grapes will also continue to be sourced and pressed in Tasmania.

    Accolade’s other premium Tasmanian brands, Eddystone Point and Bay of Fires, will continue to be produced at the same site under the contract with Handpicked Wines.

    Handpicked Wines, a family-owned Australian wine producer, is known for producing wines in Australia’s finest wine regions, including vineyards and wineries on the Mornington Peninsula, Tasmania, the Yarra Valley, and the Barossa Valley.

    Lees ook:

    Lees ook:

  • Lakanto unveils brown sugar substitute called Brown Lakanto

    Lakanto unveils brown sugar substitute called Brown Lakanto

    All-natural sugar substitute brand Lakanto has launched a brown sugar substitute called Brown Lakanto nationally.

    The company says Brown Lakanto is a sugar substitute that offers the molasses-like flavour profile of brown sugar and has zero carbs with 93 percent fewer calories than sugar. The company’s sweeteners are made up of non-GMO erythritol and monk fruit extract.

    Leon McIndoe, GM of Lakanto Australia, said the brand has an “incredible reception” in Australia.

    “With our award-winning Classic and Golden sugar substitutes already on the market, it only made sense to extend the range in delivering a Brown sugar substitute for Australians to enjoy,” McIndoe added.

    The new sweetener comes in three sizes – 225g, 450g, and 4kg – and can be found at Coles, Woolworths, and other independent retailers as well as on the company’s website.

    Lees ook:

  • Coles rolls out Netflix favourites-inspired frozen food range

    Coles rolls out Netflix favourites-inspired frozen food range

    Coles has rolled out a range of frozen food products inspired by two of the most-watched Netflix shows: Stranger Things and Squid Game.

    The Netflix range includes Stranger Things-themed frozen pizzas, beef brisket BBQ patties, spicy wing nibbles and ice cream, and Squid Game-themed chicken nuggets and stuffed potato mashies.

    Available in two flavours, Rad Pepperoni and the Gnarly Hawaiian, the frozen pizzas are packaged in the same retro-designed boxes as The Surfer Boy Pizzas, the show’s pizzeria.

    Meanwhile, the four-pack beef brisket BBQ patties take inspiration from the show’s family-owned diner, Benny’s Burgers, and the Hellfire Club Spicy Wing Nibbles from the show’s Hawkins High School Society.

    The Stranger Things ice cream is available in 1-litre tubs in three flavours: Butterscotch, Cinnamon Buns Vanilla, and Cookie Pieces.

    The supermarket also launched a 9-pack BBQ chicken nuggets in the shape of triangles, circles, and squares inspired by Squid Game’s guard marks, alongside a 12-pack of Stuffed Potato Mashies with a red and green filling, playing on the red light, green light game from the show.

    Tim Lane, business category manager for frozen at Coles, said the company was thrilled to partner with the streaming service and bring new products inspired by its popular franchises.

    “We’re committed to working with suppliers to expand and diversify our product offering, and this innovative range draws on inspiration from the concepts and brands fans have seen throughout the shows,” said Lane.

  • The EU will decide whether Apple will have to support RCS messaging

    The EU will decide whether Apple will have to support RCS messaging

    Thanks to the EU, the iPhone 15 series will have a USB-C port instead of the proprietary Lightning port. The EU’s Digital Markets Act (DMA), passed by its 27 member countries, might force Apple to allow developers to promote third-party in-app payment platforms that would allow developers to avoid the 15% to 30% cut of in-app transactions that Apple keeps.

    Apple will soon hear about another change that the DMA might force on it. Depending on whether the EU says that Apple’s iMessage platform is a “gatekeeper” or not, Apple could be forced to add support for Rich Communication Service (RCS). The latter is the platform used by Google’s Android messaging app and Google has been trying to get Apple to add iOS support for it.

    What is interesting is that RCS gives Android users many of the same features that iMessage gives iOS users such as end-to-end encryption, support for longer texts, high-quality images and videos, read receipts, typing indicators, and more. And here’s the thing. Like with iMessage, all of the extra goodies we just listed go away if an iOS user joins a group chat of Android users. Since Apple believes that iMessage is a unique feature that attracts iPhone buyers, Apple wants nothing to do with adding support for RCS.

    However, the features found on iMessage that you won’t get on RCS, such as Animojis, Memojis, and the capability of sending handwritten notes really shouldn’t be enough to make a consumer choose an iPhone over an Android device. And RCS has features that are unique too, such as suggested replies and the capability to share your location with family and friends.

    But let’s get back to the issue at hand. Per BGR, If the EU says that iMessage is a gatekeeper, Apple will be forced to support rival messaging platforms such as RCS. A company is considered a gatekeeper in the EU if had an average turnover of at least €7.5 billion in the last three financial years, or had a fair market value of at least €75 billion in the last financial year.

    A gatekeeper also has to operate in at least three Member States, and help over “45 million monthly active users and more than 10,000 yearly active business users in the EU during the last three years on a number of core platform services, such as search engines, social networking services, and operating systems.” Apple is arguing that it doesn’t have the 45 million iMessage users in the EU required to be a gatekeeper.

    Under the DMA definitions, the EU said back in July that seven tech firms qualify as gatekeepers including Apple, Google, Amazon, Meta, Microsoft, Samsung, and ByteDance. Booking.com said that it will join the group next year. Tomorrow, September 6th, the EU will announce exactly which firms are gatekeepers and will also list services, like iMessage, that are gatekeepers. So even though Apple is a gatekeeper in the eyes of the DMA, iMessages might not be. And this is important.

    Apple argues that iMessage, by itself, is not big enough to be a gatekeeper. Apple is hoping that the EU agrees in which case, Apple will not have to add support for RCS in the EU. If iMessage is considered a gatekeeper, Apple will have until March 24th to support RCS in the economic union.

    Unlike changing the iPhone’s port from Lightning to USB-C, which Apple is doing worldwide, the company would probably decide to offer RCS support, if forced to do so, only in the 27 EU member countries. The same thing would probably happen if Apple is forced to support third-party app stores and sideloading.

    So don’t forget to check back tomorrow to see if we have any news about whether the EU considers iMessage a gateway. For Tim Cook, it could be a sleepless night.

    Lees ook:

    Lees ook:

  • Vietnam tuna exports to S Korea soar

    Vietnam tuna exports to S Korea soar

    According to the Vietnam Association of Seafood Exporters and Producers, tuna exports to South Korea rose by 2.5 times year-on-year to over US$7 million in the first seven months.

    Tuna Vietnam, Nha Trang Bay and Phat Trien Seafood were the three biggest exporters, accounting for 64% of total shipments.

    Exports of canned tuna jumped by 468%.

    VASEP said declining fishing catches in South Korea and rising demand for canned products amid tightened spending drove up demand for Vietnamese products.

    Vietnam was the eight biggest exporter of tuna to that country in the first half this year, but the largest seller of canned tuna, accounting for nearly 77% of all imports.

  • Vietnam’s export sees marginal impacts from China’s Japanese seafood ban

    Vietnam’s export sees marginal impacts from China’s Japanese seafood ban

    China’s ban on Japanese seafood due to fear of radioactive contamination has Vietnamese firms seeing opportunities to ship more products, but the gain has been marginal as Chinese demand drops.

    On August 24, China imposed a total ban on Japanese seafood products after the latter started discharging its treated radioactive water from the wrecked Fukushima nuclear power plant into its seawater.

    Hong Kong and Macau have also announced their own ban, which covers Japanese seafood imports from 10 regions.
    The CEO of a Vietnamese seafood exporter from Nha Trang in the central region said that the ban might help increase the export of some products, such as tuna.

    “We have seen Chinese buyers increasing their orders for tuna by 15% year-on-year. But demand for shrimp and octopus are still 20% lower year-on-year.”

    Some other industry insiders have also said that the ban might offer opportunities for Vietnamese seafood, but only slightly, as Japan is only a small seafood exporter to China.

    Japan accounted around 3% of China’s seafood imports last year, against Ecuador’s 18.6%, Russia 14.4%, and Vietnam’s 8.8%.
    Pangasius, one of Vietnam’s main seafood exports, has not seen any notable increase in China shipments amid low demand, according to a report by SSI Research.

    “Pangasius exports to China rose slightly last week but was not significant and irrelevant to the ban,” the report said.
    The Vietnamese seafood industry has been facing a tough year as demand from major markets such as the U.S., the E.U. and China all plunged amid rising inflation and economic challenges.

    Exports of pangasius to China dropped 32% year-on-year to $325 million, and shrimp fell 9% to $338 million, according to Vietnam Association of Seafood Exporters and Producers (VASEP).

    VASEP general secretary Truong Dinh Hoe said that Vietnamese exporters will not benefit significantly from the ban.

    Lees ook:

  • Gasoline prices hit 12-month high

    Gasoline prices hit 12-month high

    Gasoline prices continued to rise on Tuesday and reached the highest since August last year.

    The popular RON95 was 1.10% higher at VND24,870 per liter.

    Biofuel RON92 price went up 0.60% to VND23,470.

    Diesel price also increased by 1.30% to VND22,640 per liter.

    Globally RON92 price went up 0.50% in the last two weeks to $103.25 per barrel, while RON95 rose 0.70% to $109.23, as Russia intended to cut its oil exports.

    Diesel was nearly 2% more expensive in the period at $118.82 per barrel.

  • Amazon, Alibaba demand more Vietnam-made home décor

    Amazon, Alibaba demand more Vietnam-made home décor

    As purchasing power for home decorations and compact furniture on ecommerce platforms Amazon and Alibaba increases, opportunities are opening up for Vietnamese businesses to sell made-in Vietnam products.

    From grass brooms and water hyacinth baskets to compact chairs and shelves, “Made in Vietnam” home decoration products have been attracting customers on U.S. ecommerce platform Amazon.

    An $81 black painted bar stool from Linon Home Decor is labeled as an “Amazon’s Choice,” meaning it is selling well, of high quality, and can be delivered right away. Over 50 of the items were sold the past month.

    Selling garden furniture and wooden planks, BeeFurni’s revenue on this platform in the first 10 months of 2022 increased by 300% compared to 2021.

    The brand’s stools launched in 2018 are priced US$35-50, depending on the size, and have attracted hundreds of customer reviews with an average score of 4.4 out of 5.

    According to Amazon statistics, home decoration and furniture items have experienced outstanding growth in the 2020-2022 period. Even after returning to the office, people still spend a lot of time enjoying their life at home, and online shopping for such products has remained stimulated.

    Last year, “wall decoration, kitchen decoration, bathroom decoration” were the most searched keywords in this category.

    Over the past three years, home and kitchen decor have continuously been some of the best-selling item categories for Vietnamese sellers on Amazon.

    Gijae Seong, managing director of Amazon Global Selling Vietnam, said this is an industry that “has great potential and still has many untapped advantages” for Vietnamese businesses.

    With about 1,500 craft villages, abundant raw material supplies and supply chain advantages, Vietnamese furniture and decoration manufacturers possess immense potential on the international market, according to Amazon.

    Chinese online ecommerce platform Alibaba said home and gardening products is one of the three most popular Vietnamese product categories on their wholesale platform.

    In the last three months, potential buyers for Vietnamese products in this category have increased 64% year-on-year.

    The most sought-after items have been dining sets, kitchenware, home textiles and affordable, practical storage, according to Alibaba.

    Specializing in selling wrought iron products such as doors, fences and railings, Nguyen Phong Metal, a small and medium-sized enterprise, has opened a large export channel on this platform, according to Sales Director Pham Nguyen Le Uyen.

    Their first order on Alibaba three years ago was worth $45,000. Since then, the company’s export revenue on Alibaba has doubled domestic sales.

    Both platforms highly appreciate Vietnam because it is one of the countries that owns a large number of skilled craftsmen: about 7.4 million workers. The country’s traditional craft villages have rich experience and a long history, and they create unique products.

    To be successful on the global market, there must be a harmonious combination between what Vietnam has and what the international market expects, according to Amazon.

    For example, with products made from rattan, bamboo, and sedge, manufacturers must improve the material processing because these goods are easily affected by factors such as humidity and insects.

    In the first seven months of the year, Vietnam’s export turnover on wood and wood products was down 26.2% year-on-year at US$7.21 billion.

    The U.S., Japan, China, the EU and South Korea continued to be the main export markets for Vietnamese timber and forest products.

    Total export value to the five markets during the January-July period was estimated at $5.44 billion, accounting for 89% of the country’s total export value.

  • Report says to expect iOS 17 and iPadOS 17 to be released together unlike last year

    Report says to expect iOS 17 and iPadOS 17 to be released together unlike last year

    Writing about tech is like having a large family. There are so many dates to remember. But instead of remembering the birthdate of that weird Aunt with the three nostrils and the wedding anniversary of the Uncle who won’t say any word beginning with the letter “T,” you have to remember that Apple will introduce the new iPhone 15 line on September 12th and Google will unveil the Pixel 8 series on October 4th.

    Apple is doing its part to make life a little easier for us writers this year by setting up its release schedule to allow for the simultaneous release of iOS 17 and iPadOS 17. Last year, iOS 16 was dropped by Apple on September 12, five days after the introduction of the iPhone 14 line. The release of iPadOS 16 didn’t take place until October 24th. The delay was caused by changes Apple needed to make to its multitasking Stage Manager apps and Windows organizer.

    Gurman writes that he has been told that the recently released eighth beta of iOS will be considered by Apple to be the final beta test before the release of the final public version unless something unexpected shows up. So if you are interested in being the first in your family with an iPhone that runs iOS 17, or if you want to impress your friends by telling them about new features like StandBy Mode (which essentially turns the iPhone into a smart display when it is charged in landscape orientation) now might be the most low-risk time to install the iOS 17 beta.

    To join the beta, direct your browser to beta.apple.com or click on this link. Tap on the name of the software release you’re interested in installing (for example, iOS 17) and follow the directions.

    Other features coming to iOS 17 include the ability to create a personalized Contact Poster which is what another iPhone user sees when you call them. An exciting feature will allow you to send a call to voicemail and read the transcript of the message being left in real-time. If you want to take the call after all, you can cut in and start talking to the caller.

    And if you have helicopter parents, a new iOS 17 feature will alert your Mom, Dad, other family members, and friends when you arrive at your destination. Of course, all of them must have an iPhone that is running iOS 17.

    If you don’t want to risk loading a beta on your daily driver, you might as well wait it out; the release of iOS 17 and iPadOS 17 is just days away.

    Lees ook:

  • Kerry Logistics bounces back in Q2

    Kerry Logistics bounces back in Q2

    Kerry Logistics’ performance in the first half of this year may have already seen the company ‘bottom out’ after the sharp drop from the extreme highs during the pandemic, as the Hong Kong-based logistics player saw 30 percent quarter-on-quarter growth for Q2.

    The abnormal highs seen in 2021 and 2022 have made an impact on year-on-year comparisons with rates slowly going back to the levels seen pre-pandemic. In its interim results, the company recorded a net profit of HK$368 million for the first half, down 85 percent versus the same period last year, with revenue dropping 47 percent year-on-year to HK$25,315 million.

    Vic Cheung, Managing Director of Kerry Logistics Network, said: “In 2023 1H, global trade volume and growth remained subdued. Freight rates and volume stayed depressed while supply chain demand remained stagnant. During the three years ended 31 December 2022, KLN Group’s flexible and innovative supply chain solutions enabled it to benefit from the supply and demand mismatch during the pandemic and achieved exceptionally good results. However, the extraordinary circumstances in 2021 and 2022 proved an anomaly that distorted year-on-year comparisons for logistics companies including KLN Group. After the particularly difficult 2023 Q1, the Group’s overall performance has bottomed out. Although the Group’s core net profit reported a decrease of 85% in year-on-year terms, the performance in 2023 Q2 recorded more than 30% quarter-on-quarter growth. The Group’s resilience, agility and unique position in Asia are expected to carry it through the storm in 2023.”

    Across the business, Kerry Logistics’ integrated logistics remained stable in H1 with a segment profit of HK$718 million compared to the HK$717 million seen in the same period last year. Contributing to the positive performance were its business in China and Thailand-based Kerry Siam Seaport’s satisfactory results with Hong Kong not growing proportionally due to a sharp drop in demand for pandemic-related services.

    The freight forwarding business meanwhile recorded an 82 percent year-on-year contraction in segment profit in the first half at HK$621 million. The company attributed the decline to weak global demand, slower-than-expected recovery in Asian exports and plunged freight rates. Kerry Logistics said the trans-pacific trade lane accounted for more than 80 percent of the business, despite volumes sliding 22 percent year on year. The company said this decline is comparatively smaller and it expects the division to outperform the market when it turns around.

    Recording the only segment loss for the first half is the company’s e-commerce and express business. The company said it expects Kerry Express Thailand, the major contributor for the express division, to stabilise in the fourth quarter of next year. On 25 July 2023, the group announced the transfer of certain companies engaging in express delivery services in Asia Pacific and Europe to an indirect subsidiary of S.F. Holding as a move to reorient its focus towards integrated logistics and freight forwarding.

    Vic Cheung concluded that 2023 is shaping up to be a tough year for the global logistics industry: “the extreme circumstances under the pandemic are gradually fading in global logistics activities and there are signs of improvement in both freight rates and volumes in KLN Group’s key markets.

    “Using the pre-pandemic FY 2019 as the base, we are confident to deliver healthy and sustainable Compound Annual Growth Rate (CAGR) growth in segment profits in our IL and IFF divisions. We are also optimistic that the stable performance of the IL business is likely to keep up the momentum in 2023 2H.”

    Kerry Logistics announced interim dividend of 9 HK cents per share  payable on  22 September 2023.

    Lees ook:

  • The New UBS Embraces Shareholder Value

    The New UBS Embraces Shareholder Value

    The share price of Switzerland’s largest bank seems to know only one direction right now – and that is up. If nothing else, shareholders benefit from the Credit Suisse takeover while everyone else looks on.

    Sergio Ermotti doesn’t have any time for nostalgia. At least that is what he said extremely clearly at the news conference this past Thursday when announcing the full integration of Credit Suisse’s domestic business.

    UBS’s CEO has his eyes set on the road ahead, and he is focused on the next key milestones of integrating what was once Switzerland’s second-largest bank. The two legal entities are set to be merged in 2024, with the Credit Suisse brand disappearing completely a year later. By 2026, UBS expects to reap cost savings of $10 billion dollars annually on a 15 percent return on equity.

    The bank’s current focus is being applauded in one specific place. The equity market. On Thursday, UBS’s share price was up as much as 6 percent, and right now they are at 23.60 francs. Since the takeover was announced in March, the shares are up by a third, and at this level, they are trading at a price-to-book level of 0.99, or just below intrinsic value.

    That has prompted chart technicians to rather excitedly point out that the bank’s price has escaped what had been a price corridor below 20 francs, something that has not happened for years. Moreover, a majority of analysts are now recommending UBS shares as a buy.

    Kian Abouhossein is one of those analysts. The highly watched JP Morgan analyst has been a fan of the takeover from the start given that for him and others it means that UBS will be a future wealth management juggernaut. In a recent report, he indicated he expects significantly enhanced earnings strength, with the return on equity targets indicating that the future UBS sees a net profit of about $12 billion for 2026.

    It is an ambitious target from our point of view, the analyst maintains. But he is confident that UBS will be able to manage it, and he believes UBS’s share price could be at 27 francs by the end of 2024.

    All this underscores that UBS shares, which haven’t moved much for years, have again fallen in favor, at least with investors. Much of that is likely due to the fact that bank management under Ermotti has put a strong emphasis on that specific group of stakeholders.

    There is nothing all that surprising about that in an institution listed on an exchange with its shares widely held by a large variety of investors, both retail and institutional. Still, the tone has changed from the days after the takeover when Ermotti announced in June at an industry forum that the social impact of the takeover had to be factored in.

    At the time, he said that UBS wanted to satisfy Switzerland, clients, and employees.

    There was little talk of that last Thursday. Instead, much of what was on offer was cold and clinical business reasoning. UBS had closely evaluated the option of keeping Credit Suisse’s domestic business as an independent entity but concluded that it would be afflicted by marginal profitability and a lack of scale.

    The best solution is a full integration into UBS for stakeholders and the Swiss economy, Ermotti maintained.

    But it is more than reasonable to be skeptical about all that given the job cuts that are expected to come down the wire, not to mention the necessity of transferring the assets and portfolios of tens of thousands of Credit Suisse clients. At this point, redundant former Credit Suisse employees are expected to be left with the enhanced social plan while clients have to hope that the process will be implemented as smoothly as possible.

    There has been criticism about the bank’s current tack to focus its efforts on future profitability. «The only things that speak for an integration are efficiency gains and higher profit», Sandro Schmid maintained recently. Bank consultants and risk professionals believe a full and complete integration is risky and extremely expensive.

    But UBS and CEO Ermotti have chosen to focus on the needs of shareholders, something that comes much easier after the voluntary termination of the government’s federal loan guarantees. In an interview in the domestic media, Ermotti indicated that the bank and shareholders were still holding the risk when it came to the integration of both institutes. And there would only be a profit if this was completed well.

    By that token, at least when it comes to shareholder value, the priorities seem to be in the right place.

  • AirAsia Indonesia to more than double fleet in 3 years

    AirAsia Indonesia to more than double fleet in 3 years

    Capital A plans to more than double its fleet in Indonesia in the next three years to capture a growing tourism market after the Covid-19 pandemic, its chief executive Tony Fernandes said on Monday (Sep 4).

    AirAsia Indonesia, a unit of Capital A, currently has around 28 planes in its fleet. Fernandes told reporters on the sideline of an Asean business forum in Jakarta that he plans to grow the fleet to 75 by 2026, bringing in more wide-body aircraft.

    Fernandes said that the company’s main goal after the pandemic has been to grow its fleet as travel returns to normal levels quickly.

    “I’m very excited and we want to do as much direct connectivity, we want to open routes that we haven’t opened up before,” Fernandes said, citing Indonesia’s plans to develop destinations beyond the popular holiday island of Bali.

    Last year, Malaysia’s AirAsia Group changed its name to Capital A to reflect its growing portfolio of businesses beyond the core budget airline.

    Fernandes stepped down as AirAsia X CEO in October 2022, but has been the CEO of its parent company since 2018.

    Lees ook:

    Lees ook:

    Lees ook: