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Tag: asia

  • Sovico registers to buy 13.7 million Vietjet shares

    Sovico registers to buy 13.7 million Vietjet shares

    Sovico Holdings Company registered to purchase nearly 13.7 million shares of Vietjet Aviation Joint Stock Company (VJC) between March 26 and April 25.

    Sovico is a founding shareholder of the budget airline, owning 4.56 per cent of Vietjet’s capital. If the transaction is successful, Sovico will increase its ownership to 34.3 million shares, equivalent to 7.59 per cent, and become a major shareholder in Vietjet.

    Currently, Nguyễn Thị Phương Thảo, Vietjet’s general director and chairman of Sovio, holds 8.76 per cent of Vietjet’s capital. Her private company, Hướng Dương Sunny Investment Co Ltd, is the largest stakeholder with 28.57 per cent.

    HDBank, where Thảo is vice president, owns another 4.95 per cent, while her relatives possess a combined 2 per cent.

    Thus, after the transaction, Thảo and her related companies and individuals will likely hold nearly 52 per cent of Vietjet’s capital.

    At the end of 2017, the airline’s revenue totaled VNĐ42.3 trillion, up 53.7 per cent year-on-year. Its pre-tax profit reached nearly VNĐ4.8 trillion, up 75.9 per cent over last year and surpassing the yearly target by 26 per cent.

    Vietjet increased the dividend ratio for 2017 from 50 per cent to 60 per cent and had paid VNĐ1.35 trillion to pay 30 per cent dividends last year.

     

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  • Strong sales growth posted by Hermès Asia

    Strong sales growth posted by Hermès Asia

    Hermes Asia sales grew 11.3 per cent last year to €1.946 billion (US$2.4 billion) as the luxury retailer set a new record for gross retail margin.

    The company said the retail market was improving in Hong Kong and Macau, with the Asian market “pursuing its upward curve” and positive outlooks in Mainland China and South Asian countries.

    Growth was aided by store revamps at Sogo Fuxing in Taiwan, Elements mall in Hong Kong and at Kuala Lumpur.

    Sales in Japan (separated from Asia results) rose 4 per cent to €724.1 million, despite a high comparison figure from last year, which the company described as “a sustained increase” in what is a mature market, citing a selective distribution network.

    Group sales totalled €5.549 billion (US$6.863 billion), up 9 per cent at constant exchange rates. Operating income rose 13 per cent, to €1.922 billion, representing a record 34.6 per cent gross margin, while net profit rose 11 per cent to €1.221 billion.

    “Hermes achieved a new year of historic results, thanks to the quality of our know-how, the success of our creations and especially the incredible commitment of the women and men of Hermes,” said executive chairman Axel Dumas.

    Hermes will ramp up its online offer in the region this year, with a new website scheduled to go live in China at the end of this year.

    Meanwhile, the company said the sale of the Galleria building in Hong Kong’s Central district, which previously housed its flagship store, would likely generate a net capital gain of €50 million this year.

    Leather drives growth

    By category, Hermes’ leather goods proved the strongest performer last year, sales rising 10 per cent globally, reflecting increased production capacity as demand rose for its handbags.

    The ready-to-wear and accessories division grew 9 per cent, driven by the success of new collections, fashion accessories and particularly shoes.

    Sales of silk and textile products grew 6 per cent and of perfumes by 10 per cent, largely due to the successful launch of Twilly d’Hermes.

    Watch sales grew just 1 per cent with what Hermes described as “good sales” in company-owned stores. Other Hermes business lines- jewellery, Art of Living and Hermes Table Arts, grew sales by 11 per cent.

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  • FILA launches Pokémon-inspired sneakers

    FILA launches Pokémon-inspired sneakers

    Fila Korea has collaborated with Japanese VR game franchise Pokemon on a range of colourful sneakers.

    Available via Fila South Korea, the limited-edition shoes feature Pokemon characters including Bulbasaur, Charmander, Jigglypuff, Pikachu and Squirtle. The shoes are wrapped in a Pokeball-themed box with a badge and sticker of the corresponding Pokemon.

    There are just two models: the Fila Court Deluxe and Classic Kicks.

    Orders for Hong Kong, Japan, Malaysia, Philippines Singapore, Taiwan and other Asian countries as well as the US can be placed through Harum.io.

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  • Jins, Japan’s biggest eyewear chain, to open in Manila

    Jins, Japan’s biggest eyewear chain, to open in Manila

    Japan’s largest eyewear chain Jins plans to open in Metro Manila this summer.

    Brought in by Suyen Group, the parent of fashion brand Bench, Jins will add a broad variety of eyewear design to the Philippines.

    Each Jins store regularly stocks more than 1200 frames, ranging from classical styles to fashionable.

    Jins offers a visual experience with stores designed like a pop-art gallery, collaborating with graphic artists and architects from Japan and other countries in designing both the eyewear line and their stores.

    Recent collaborators include British product and furniture designer, Jasper Morrison, and Japanese graphic artists and architects Teruhiro Yanagihara and Sou Fujimoto.

    Customers usually spend less than an hour having their eyes checked and spectacles prepared at Jins.

    Jins has around 60 stores in Tokyo, and 300 nationwide.

  • Vietnam footwear boasts strong development prospects

    Vietnam footwear boasts strong development prospects

    Vietnam’s leather and footwear industry will continue to develop in the coming years, according to the Vietnam Leather, Footwear and Handbag Association (Lefaso).

    Speaking at the two-day Vietnam Footwear Summit which opened in HCM City yesterday, Diệp Thành Kiệt, Lefaso’s deputy chairman, said exports of footwear and bags increased to US$18.1 billion last year from $16.2 billion in 2016.

    There are opportunities for the industry to continue developing, he said.

    Vietnam has free trade agreements with most major markets like Japan, the Customs Union of Russia, Kazakhstan and Belarus, South Korea, and ASEAN in addition to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and an agreement with the EU, he said.

    “We have a golden demographic ratio with 66.9 per cent of the population being of working age, providing an abundant supply of cheap and skilled workers.

    “ Vietnam can supply materials for the footwear industry and becomes a destination for large producers.”

    The country has succeeded in producing and exporting high-value products, he said.

    “This is a big opportunity for the industry. If we continue to promote the export of high-value products, the industry will develop strongly.”

    Replying to a question on the impact of the US’s withdrawal from the TPP on the footwear industry, he said this would not affect Vietnam’s footwear exports to the US much.

    Matt Priest, president and CEO of the Footwear Distributors and Retailers of America, said the US imported 2.39 billion pairs of footwear last year.

    “Per capita spending on footwear climbed to a record last year,” he said.

    China was the biggest exporter to the market, but China’s share is declining and Vietnam’s is increasing, he added.

    Talking about the EU- Vietnam FTA, Nguyễn Thị Xuân Thùy, a researcher at the Vietnam Institute of Industrial and Trade Policy and Strategy, said all tariff lines on leather, cases and bags and 37 per cent of tariffs on footwear would be removed immediately when the FTA comes into effect.

    To enjoy tariff incentives, the products must meet rules of origin and technical barriers to trade commitments with regard to labelling, conformity assessment, and market surveillance, increasing compliance costs, she said.

    Challenges

    Kiệt also spoke about the challenges faced by the industry such as increasing labour costs, automation, protectionism, and competition from other countries.

    Pointing out that between 2010 to 2017 the minimum wage increased 3.02 times while GDP per capita only increased by 2.04 times, he said: “If we had not improved productivity, labour costs will be high.

    “Large customers tend to shift orders to countries with cheaper labour costs, especially for simple and manual items. This initially will not have a great impact on Vietnamese footwear, but in the long term, if we do not adjust our strategy, we will lose orders to Cambodia, Myanmar, Bangladesh, and Ethiopia.”

    The application of automation and Industry 4.0 technologies will help raise productivity. But more than 75 per cent of footwear enterprises are small firms, and it is difficult for them to afford automation.

    Duncan Scott of New Balance Athletic Shoe, Inc, said countries moving up the value chain could stop making footwear and those continuing to make footwear would need “sophistication”.

    Low cost labour alone would not ensure success, and firms need to continue to drive efficiency and digital connectivity among others, he said.

    Delegates said proper use of automation could eliminate redundant workers and make factories much more efficient and profitable.

    The industry’s development plans target rapid, sustainable development and better use of the country’s FTAs to expand exports.

    It plans to restructure production to add value to products, increase local content, improve designs, and focus on medium- and high-quality products for the domestic and export markets.

    John Graebin from US footwear company Deckers Brands said: “More and more automation solutions will be used. I think that is a real opportunity for Vietnam so that the country can compete in a few more decades.”

    There are 939 enterprises in the footwear industry in Vietnam, which is the third largest producer and second largest exporter in the world.

    The US was the largest importer of Vietnamese footwear and bags (accounting for 35.9 per cent), followed by the EU (30.6 per cent), China (6.4 per cent), Japan (6.3 per cent), and South Korea (2.8 per cent).

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  • Esprit Holdings to announce new leader

    Esprit Holdings to announce new leader

    Leadership changes have been announced by apparel brand Esprit Holdings in Hong Kong.

    Jose Manuel Martínez Gutierrez will step down as group CEO and executive director of the company on June 1, with Anders Kristiansen appointed as his successor.

    As a precursor to the change of CEO, chairman Dr Raymond Or Ching Fai will assume the role of executive director on April 1, to play a more active role in the next phase of the group’s strategy, including an ambitious expansion plan for China, the company said in a regulatory filing.

    “We very much regret losing Mr Martinez, as his contribution has been most valuable to Esprit,” said Or.

    Over the past five years Martinez had reversed a severe decline in the group’s results by stabilising procedures, restructuring and improving overall profitability.

    “After this phase of bottomline recovery, the group enjoys a sound financial position, with no debt and net cash of HK$4.5 billion.”

    Martinez, whose resignation is for personal reasons, said he was leaving the group “strong and well equipped” and he believes the new leadership will bring a positive impulse to take on the challenges ahead.

    “I will stay on to support a smooth transition into the new scheme.”

    Or says incoming CEO Kristiansen is a well-rounded and seasoned executive in the fashion industry with extensive experience in business development both in Europe and Asia, especially China.

    “Our objective will be to recapture market share and ultimately return the company to growth,” said Kristiansen.

    Or, 68, was appointed as independent non-executive director in March 1996 and became chairman in June 2012.

    Or is also a director of Chow Tai Fook Jewellery Group, Industrial and Commercial Bank of China, Regina Miracle International (Holdings) and Television Broadcasts. He has entered into a service contract with Esprit, which may be terminated by either party on 12 months’ notice.

    Kristiansen, 51, is an industrial advisor for a global private equity fund Permira. He was previously CEO and director of New Look, a global fast-fashion apparel company based in London. Before this, he held senior executive roles in the Bestseller Fashion Group China, Staples China, and Lyreco, an office supplies company.

    Kristiansen has also entered into an employment contract with Esprit subject to 12 months’ notice of termination by either party.

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  • Industry leaders meet at Singapore’s largest show to explore new frontier in coffee business

    Industry leaders meet at Singapore’s largest show to explore new frontier in coffee business

    Thousands of food and beverage (F&B) establishments in Singapore and the region dedicate themselves to serving freshly brewed cups of java or tea and delightful pastries every day. While many Asian countries have enjoyed the café culture phenomenon for many years, new markets like Myanmar, Laos, and Cambodia are now starting to witness the growth of the café industry in their countries.

    To support the diverse needs of these thriving businesses, key players of the coffee, tea, and bakery industries converged at Café Asia 2018 today to foster new collaborations, explore opportunities, and to present the latest trends and developments to trade professionals and members of the public. The event was launched this afternoon by Guest-of-Honour, Mr Liang Eng Hwa, Chairman, Government Parliamentary Committee for Finance, Trade & Industry and Member of Parliament, Holland – Bukit Timah GRC Café Asia 2018, the International Coffee & Tea (ICT) Industry Expo 2018, and Sweets and Bakes Asia (SBA) 2018 concurrently offer a one-stop convenient sourcing hub for the industry. Spanning a gross exhibition area of 5,000 square metres, the shows are expected to attract over 10,000 baristas, café and coffee purveyors, coffee roasters, tea and baking ingredients suppliers, equipment distributors, and members of the public over the next three days.

    A key highlight of the show this year will be the gathering of coffee industry experts at the inaugural ASEAN Coffee Symposium 2018. The symposium to be held tomorrow, will present and discuss important issues faced by the industry. These include thought-provoking topics such as role of women in coffee, social enterprise and sustainability of coffee in a changing climate, and how financial institutions can ensure a sustainable and traceable coffee supply chain to help small-scale coffee farmers. The panel discussion will be led by Mr Victor Mah, President, ASEAN Coffee Federation & Singapore Coffee Association and include key members of the ASEAN Coffee Federation.

    Since it was first introduced to the market in 2013, Café Asia has featured distributors and suppliers of equipment, machinery, accessories, and other products for coffee and tea businesses, while ICT has presented the upstream sector of the coffee and tea industries to offer a complete showcase of supplies such as raw coffee beans and tea leaves, to processing and packing services for wholesale purchases and trading. With 142 exhibitors from 25 countries, the shows mark Southeast Asia’s largest annual gathering of the coffee, tea, and bakery industries, dedicated to the celebration of the burgeoning café scene across the region.

    Since the emergence of hundreds of specialty cafés in Singapore over the past few years, consumers have been eager to keep up with the latest trends and innovations in the café industry, from nitro cold brews to siphon coffees, tea pairings to visually delightful desserts. According to Euromonitor in 2017, the bakery and confectionery sectors have been enjoying stable growth in Singapore. This includes internationally renowned bakeries setting up shop in Singapore, responding to the rising demand for quality bread, cakes and pastries. The appreciation for products with functional and health benefits is no surprise. This reflects consumers’ changing lifestyles, spurring innovative creations from F&B businesses in their bid to stay competitive.

    The shows will be packed a comprehensive programme designed to impart deeper understanding of and appreciation for the trade and café industry. Businesses entering the booming digital economy will appreciate the e-commerce clinic presented by RedMart to help businesses understand the challenges of expanding online.

    Visitors to the shows will also meet international experts including renowned cake designer Molly Eleonora Coppini and the Australian Tea Masters, the leading organisation for tea master and tea sommelier training in Australasia.

    Five national-level coffee championships will see Singapore’s home-grown baristas, brewers, latte artists, and students contend in the Singapore National Barista Championship, Singapore Latte Art Championship, Singapore Brewers Cup Championship, Singapore Cup Tasters Championship, and the second edition of the Singapore Coffee in Good Spirits Championship. Winners of the respective national titles will represent Singapore on the international stage at the world championships later this year.

    Café Asia 2018, the International Coffee & Tea Industry Expo 2018, and Sweets & Bakes Asia 2018 are organised by Conference & Exhibition Management Services Pte Ltd (CEMS). Café Asia 2018 and International Coffee & Tea Industry Expo 2018 are hosted by Singapore Coffee Association.

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  • Fashion Designer Mithi Kalra, launches Punjab inspired collection

    Fashion Designer Mithi Kalra, launches Punjab inspired collection

    After making her debut at India Runway Week, celebrity designer Mithi Kalra is all set to launch a Punjab inspired collection.

    Titled ‘Barkat Punjab’ the collection is celebrating the moods of a girl from Punjab who wishes to look traditional as well as contemporary.

    The new Indian bride has stepped out of the tradional way of dressing and has adopted comfortable as well as contemporary look.

    According to Mithi Kalra,”I am a Punjabi and so I took inspiration from my own culture. I have used shades from the smokey palette like black, grey, silver and at the same time have used bright colours like yellow, coral and blue, as my collection is for the people from all walks of life”

    The fabrics used in the bridal collection were silk velvets and nets blended with dabka and mirrors.

    Every bride needs a couple of those pieces in her trousseau which comes handy when she has to mix and match be it with a kurta or anarkali or just a chiffon saree draped over a legging.

    Today, bridal wear has a vast spectrum, it not only includes those heavily embroidered lehengas and embellished sarees but it has a good mix of Rich Anarkalis with Ethnic Skirts, subtle yet rich Crop Tops with Lehengas paired with beautiful capes.

     

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  • Fendi to open Kiosk Travels in Siam Paragon

    Fendi to open Kiosk Travels in Siam Paragon

    FENDI opens a brand new store as pop-up store in Siam Paragon, right in the heart of the main shopping area in Thailand. The pop-up store concept, the FENDI KIOSK, is a luxurious reinterpretation of the Roman style vintage newsstands that you will find in a typical Piazza in the heart of Rome. There are two FENDI Kiosks at Siam Paragon, one dedicated to the Spring/Summer2018 Women’s show collection, and the other one is dedicated to the Spring/Summer 2018 Men’s show collection. Both FENDI Kiosks feature ready-to-wear, leathergoods, small leather goods, accessories and shoes.

    To celebrate the launch of the pop-up store, FENDI has thrown a roman inspired cocktail party on the 16th of March 2018. Special guests including Mai Davika, Note Panayangkool, Violette Wautier, Sonya Singha, Nattarat Nopparuttayaporn, Chontida Asavahame, Pasakorn Vanasirikul and Sorawis Saengvanich have joined in the celebration of the pop-up store.

    The two FENDI Kiosk travelling pop-up stores in the Atrium of Siam Paragon will feature the Women’s and Men’s Spring Summer 2018 Collection.

    The Women’s SS18 Collection focuses on the Tropical Futurism Theme, with the iconic FF Logos which can be seen throughout the collection, from Leather Goods, Small Leather Goods, Shoes and Accessories. The adorable Space Monkeys and Banana charms make an appearance at the Kiosk as well.

    The Men’s SS18 collection feature Everyday FENDI Items. These pieces feature illustrations done by British artist, Sue Tilley. From a glossy red corkscrew to an antique set of keys, leaky bathroom taps, a plastic rotary telephone, desk lamp, banana peel, Tilley’s focus zooms in on the banality of everyday life – not glorifying but simply reflecting on these universal domestic motifs with a vibrant, spontaneous hand.

    The FENDI Kiosk will be open until June 2018.

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  • Beiersdorf celebrates expansion of its Bangkok production facility with First Stone ceremony

    Beiersdorf celebrates expansion of its Bangkok production facility with First Stone ceremony

    Beiersdorf, owner of world leading brands such as NIVEA and Eucerin, has begun work on the expansion of its skincare products factory in Bangkok. The group’s industrial unit, located in Bangplee will be an investment of €47.4 million for the company.

    Its offices and production center together employ more than 700 staff and manufacture products for two of its brands, NIVEA and Eucerin, for the Thai market and export to 43 other countries. This expansion is reflective of the continued growth this cosmetics giant has enjoyed within the region.

    Mr. Markus Daburger, Beiersdorf Thailand says: “The Pailin Project is Beiersdorf’s commitment towards doubling production performance in order to support the demand of the region. As a representative of Beiersdorf Thailand, we appreciate the on-going support of the Government and local agencies in our expansion project, which not only sees the production line expand, but also our Beiersdorf family, as up to 200 jobs new will be created in the next years. We are proud to say that the Pailin Project in Thailand is now the second biggest hub of the company after Germany.”

    A key target of the project is to improve the working environment for all employees, with cutting-edge innovation, structured offices, optimized work ergonomics and CE-standard machines as well as a refurbishment of the existing production building. The compounding area will be renewed with four mixers replaced while the factory entrance, canteen, offices and recreation area will all be refurbished, too.

    Efficiency is also a key consideration. Line performance will be improved to see production peak at 240 bottles per minute on a single line. The expansion will include a solar-paneled roof with the capability to produce 500kW of power, and is on target to achieve a gold LEED (Leadership in Energy and Environment Design) certification. The U.S Green Building Council’s prestigious certification serves as a project management tool to achieve more sustainable, high-performance green buildings.

    The expansion, due to house new production lines for Deo Roll-Ons, has a building footprint dimension of 72m x 97m and a construction area of 9,679m2. This vast project is scheduled for completion in the first quarter of 2019 and will begin production of Roll-Ons in the following quarter. The existing building will be refurbished to accommodate Lip Care production which will begin in the middle of 2020.

     

     

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  • Tourism Malaysia Supports ShopBack’s Move of Hiring A Chief Travel Officer

    Tourism Malaysia Supports ShopBack’s Move of Hiring A Chief Travel Officer

    Tourism Malaysia today expresses its supports towards ShopBack Malaysia’s Chief Travel Officer (CTO) campaign, an attractive idea that offers RM15,000 for a travel lover to go for three trips within Malaysia and showcase how he/she does it through a smarter way via videos.

    “Travel has become a common hobby among the youth, and we believe ShopBack’s Chief Travel Officer campaign will certainly drive interest and conversations towards the interesting places in Malaysia. The first CTO campaign in 2017 was a success, and we are glad that ShopBack Malaysia is passionate to keep this going – more worthy places could be discovered by the next Chief Travel Officer,” says Mr. Mohd Amirul Rizal Abd Rahim, Deputy Director, Domestic & Events Division, Tourism Malaysia.

    “Malaysia is a blessed country with beautiful destinations. Many of us are travel lovers too, therefore we initiated a social campaign that embodies money-saving skills, passionate travel spirit as well as fun and daring adventure. The first CTO brought us to places less publicised such as Kudat, the tip of Borneo in Sabah while nicely demonstrated how she saved on trips booking via ShopBack through lively videos. We look forward to working with the next Chief Travel Officer for a more engaging experience like this,” says Alvin Gill, Country General Manager, ShopBack Malaysia.

    The leading cashback site works with a full range of travel sites that covers airlines, bus, rides, accommodations and tour services to offer cashback on top of discounts provided by merchants. Those include Malaysia Airlines, easybook, Expedia, Booking.com, Traveloka, Hotels.com, Adventoro, KLOOK, Grab and more.

    The Chief Travel Officer will be given a RM15,000 travel fund to plan for 3 holidays within Malaysia. He/She will need to demonstrate how the travel planning was done, film and share travel experience with the public. The campaign targets to encourage youth to travel the smarter way and appreciate the beauty of the country that they live in.

    Amirul also expressed that the Chief Travel Officer campaign will help to amplify Tourism Malaysia’s Cuti-Cuti Malaysia Dekat Je Domestic Campaign and Visit Malaysia 2020 campaign, where ShopBack’s CTO will indirectly promote local tourist attractions and generate interest on domestic travels among Malaysians.

    “We appreciate Tourism Malaysia’s endorsement of this campaign and are confident that it will resonate well with travel communities and show them a journey to enjoy travel without burning a hole in the pocket. Since 2015, we have helped Malaysians to save more than RM25 million Cashback from their purchases, of which a chunk of it is from travel expenses,” Alvin added.

    The application closing date is 8th April 2018, 6 pm. It opens to all Malaysians who love to save while travelling always active on social media and keen to discover the path less travelled. The chosen one will be announced on 18th April 2018.

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  • T Galleria Sydney opens door after renovation

    T Galleria Sydney opens door after renovation

    DFS Group, the world’s leading luxury travel retailer, will celebrate the opening of its newly renovated T Galleria by DFS, Sydney next month, offering customers an exciting modern retail experience that combines the best of the world’s most famous luxury brands with an expertly curated selection of local products.

    Spanning over 70,000 square feet, T Galleria by DFS, Sydney has occupied its historic red-brick George Street location in the heart of the historic precinct of The Rocks for 29 years. It is Sydney’s only downtown duty-free destination, mere steps away from the famous Sydney Opera House and Harbour Bridge.

    Featuring more than 150 of the world’s most desirable brands, the store is a one-stop retail paradise that entices customers with its stylish layout and carefully curated collections. It showcases an extensive selection of products across DFS’ five pillars of luxury: Fashion and Accessories, Beauty and Fragrances, Watches and Jewellery, Wines and Spirits, and Food and Gifts, with many items available exclusively at T Galleria by DFS, Sydney, such as the Michael Kors x DFS collection and Tiffany & Co.’s Keys.

    With its double-height ceiling and black-and-white checkered flooring, Watch World on the third floor is the ultimate in retail elegance as befitting the 57 luxury watch brands that are showcased there. More than 20 of the world’s most prestigious and iconic sunglasses brands are also available on the third floor, ensuring that travelers can find their perfect holiday look. Beauty and fragrance lovers are well catered for on the fourth floor with some of the beauty world’s biggest color and beauty brands.

    Customers will also discover a tempting assortment of international and local food products, wine, spirits and gifts from more than 50 brands. These include Ovvio organic certified teas, Yalumba wine, Steens manuka honey, and delicious Tim Tam bites.

    “At DFS, we pride ourselves on delighting and surprising our customers with beautiful products presented within luxurious and inviting environments. The renovated T Galleria by DFS, Sydney brings a whole new retail experience to visitors exploring this beautiful city, offering them a unique duty-free shopping space in the heart of The Rocks area,” said Sibylle Scherer, President Merchandising and Consumer Marketing, DFS Group.

    Doors to T Galleria by DFS, Sydney are now open, and the store will officially celebrate its opening on April 14.
    The refurbishment of T Galleria by DFS, Sydney began in August 2016 under the direction of Australian design company PMDL, which was also responsible for the design of T Galleria by DFS, Macau, City of Dreams, and T Galleria by DFS, in Siem Reap, Cambodia.

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  • Lalamove Data Delivers Message of Market Success

    Lalamove Data Delivers Message of Market Success

    Hong Kong based on-demand delivery app Lalamove is firmly in the driving seat when it comes to leading the last-mile market, including B2B, B2C and C2C deliveries; revealing impressive data in 2018 to show a fast-track journey of success since the company was first set-up in 2013 by entrepreneur Chow Shing Yuk.

    In the last five years, Lalamove has received $160 million USD in funding, including Series C funding of $100 million USD in late 2017 and set in motion an expansion plan to establish a greater global identity and a presence in 100 more cities in Asia. Currently, Lalamove is a force to be reckoned with, operating in 126 cities in China and Southeast Asia, with 2,000 employees and 2.2 million drivers, including 50,000 drivers in Thailand alone. Some 25 million users have downloaded the Lalamove app, with the company’s fleet of motorcycles, cars, vans and trucks also set on course as part of the Lalamove food delivery platform too.

    Global fast-food chain Burger King announced a partnership with Lalamove in November 2017. Local, regional and international brands are set to partner with the delivery app in the next few months with new features added to updating the app too. In Thailand, Some 520 million km have been traveled since 2013 with delivery times shorter than a one hour lunch. With e-commerce markets set to rise, the number of new users in online hubs such as Thailand are expected to a hike 250% compared to 2017.

     

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  • One Raffles Place Shopping Mall To Undergo Asset Enhancement, Welcomes New Tenant

    One Raffles Place Shopping Mall To Undergo Asset Enhancement, Welcomes New Tenant

    One Raffles Place Shopping Mall, a six-storey retail mall located in the heart of Singapore’s central business district (“CBD”) in Raffles Place and part of the iconic integrated commercial development One Raffles Place, is set for a revamp as it undergoes asset enhancement works scheduled to start in mid-2018.

    The AEIs include improving the circulation areas of the mall, as well as creating more inviting and open retail space with better visibility. These upgrades will help provide a better shopping experience while simultaneously driving the per-squarefoot productivity of the mall.

    The revitalised One Raffles Place Shopping Mall will create an exciting retail environment that addresses the changing needs and lifestyle preferences of the working population in the CBD. Another exciting change is the opening of a coworking space occupying more than 35,000 sq ft of space across a few levels at the
    mall.

    Spaces, a co-working concept by IWG, the world’s leading provider of flexible workspace solutions, will launch its flagship site at One Raffles Place Shopping Mall delivering a strong lifestyle-led workspace for a creative way of working for entrepreneurs and established businesses alike. The venue will provide a professional working environment founded on the principles of collaboration and inclusivity, while its authentic, European and considered design will reflect the company’s “Inspire to Work” philosophy.

    Spaces at One Raffles Place is envisaged as a focal point for flexible workspaces given its vantage location in the heart of Raffles Place. A unique aspect of Spaces will be its ability to host and launch retail and fashion-related events within a mall setting. Its multi-level layout is expected to improve vertical traffic at One Raffles Place Shopping Mall, whilst direct access to Raffles Place Park and the incorporation of a strong F&B offering on the first level will make it a preferred choice for corporate gatherings and for catching up with colleagues and friends
    after work.

    Ms Tan Shu Lin, Chief Executive Officer of OUE Commercial REIT Management Pte. Ltd. which manages OUE Commercial REIT (“OUE C-REIT”), said, “Coworking spaces have been proven to create bustling work communities, and we are delighted that our partnership with Spaces by IWG will create more diversity and vibrancy for One Raffles Place Shopping Mall.

    As the mall attracts high shopper traffic of close to one million each month, necessity services and food & beverage tenants will remain the mainstay of the retail offering. The presence of a co-working space will further enhance the
    business traffic and synergy for One Raffles Place as an integrated commercial development.”

    “For us, opening a Spaces site at One Raffles Place is such a wonderful moment. This area is well-known for its very high quality and standards; a perfect fit for our community who will expect excellence in the design of Spaces and in our level of hospitality. We also plan to support an energised business community of different industries, which will include the creative industries and fin-tech groups,” says Martijn Roordink, Co-founder of Spaces.

    One Raffles Place Shopping Mall will remain operational during the asset enhancement period and the implementation phases are carefully planned to minimise disruption to both tenants and shoppers. The cost of the AEIs is not expected to have a material impact on OUE C-REIT’s gearing.

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  • Orolia Brand introduces PRISMA, a reporting solution with true UTC Source Traceability

    Orolia Brand introduces PRISMA, a reporting solution with true UTC Source Traceability

    Spectracom, an Orolia brand, has released PRISMA™ Compliance, the first time-sync reporting solution developed specifically for MIFID II and FINRA compliance that was built from the ground up using a high-performance database from the Paris-based company Quasardb. The drop-in software is the only compliance reporting solution that provides true UTC traceability with real-time reporting, NTP/PTP compatibility and multisite replication for resilience.

    “Spectracom partnered with quasarDB because we needed a solution that was capable both of handling the huge quantity of data generated by all of the timing elements in large networks, and would provide fast reporting of that data.” said Jeremy Onyan, Spectracom’s director for time sensitive networks. “With quasarDB behind it, PRISMA™ Compliance users can easily produce the reports necessary to satisfy the RTS25 requirement of MIFID in real time – in seconds, not hours.”

    Onyan said that, unlike other compliance software, PRISMA™ Compliance collects and aggregates all the relevant information in the timing chain to deliver true offset to UTC, “not just from master to client.”

    “This capability is key, because both MIFID and FINRA regulations require full traceability to UTC,” Onyan said.

    PRISMA™ Compliance is fully compatible with all common versions of NTP and PTP, making it easy to use in both older legacy NTP networks or new, low latency PTP deployments.