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Tag: asia

  • JB Hi-Fi partners with cyber-security firm to educate Students

    JB Hi-Fi partners with cyber-security firm to educate Students

    Leading electronics retailer JB Hi-Fi has partnered with cyber-security firm Family Zone to offer cyber-safe hardware, solutions, and training to schools across Australia.

    The mission is to give Australian students the opportunity to learn about the dangers of a technologically driven world in a safe, collaborative way.

    “Our Education customers play an important part in the future of Australia, as they shape the youth of today for the responsibilities of tomorrow,” JB Hi-Fi Solutions head of practices Jordan Barry said.

    “Today, more than ever, the rapid adoption of mobile and cloud-based technologies is creating an environment open to a cyber attack.

    “JB Hi-Fi Solutions believe that it is our role to guide our education client to help protect against this threat. Our exciting partnership with Family Zone allows us to rapidly expand our capability and capacity, reaching more education clients than ever before.”

    The partnership allows JB Hi-Fi to offer Family Zone products and services to its Solutions customers, including cyber-safe hardware, monitoring tools for parents, as well as the ability to deliver cybersecurity solutions to schools.

    “Our mission is to allow schools, parents, cyber safety experts and ultimately children to seamlessly collaborate; to set and agree to boundaries, to test them, to learn and prepare for a world of technology,” Family Zone managing director Tim Levy said.

    “Our exciting partnership with JB Hi-Fi progresses us rapidly down this path allowing us to expand our reach and streamline sales, deployment, and management of our solutions.”

    Family Zone also partnered with supermarket Woolworths in late 2018 to sell its cyber-safe and child-friendly mobile phone – a partnership that later expanded to include the ability to sell Family Zone solution services as well.

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  • Louis Vuitton India sales and profits surge

    Louis Vuitton India sales and profits surge

    Louis Vuitton India has reported a 24.5-per-cent increase in profit year on year, representing a doubling of income since 2017.

    Sales have grown by 41 percent since 2017 with the luxury retailer now operating three stores in the country, at Delhi, Mumbai and Bengaluru.

    The growth reflects a strengthening Indian luxury-goods market estimated to be worth about US$8 billion now and growing at a rate as high as 18 percent through to 2023.

    Louis Vuitton India’s net profit for the 2019 financial year was ₹16.17 crore (US$2.25 million), over ₹12.98 crores ($1.8 million) for the previous year, according to local regulatory filings.

    Globally, the company, LVMH recorded revenue of €53.7 billion last year, up 15 percent year on year.

    Meanwhile, LVMH India’s country manager Sunaina Kwatra has announced her intention to resign from the firm’s board.

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  • Philippines-Vietnam Sign Strategic Partnership

    Philippines-Vietnam Sign Strategic Partnership

    At the sidelines of the APEC Summit in Manila in November of 2015, Foreign Affairs Secretary Albert del Rosario and Vietnam Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh signed the strategic partnership agreement on behalf of their respective governments on the sidelines of a bilateral meeting between President Benigno S. Aquino III and Vietnam President Truong Tan Sang.

    This strategic partnership is expected to go beyond the security dimension and urges the Philippines and Vietnam to cooperate more closely in areas that will deepen the ties between them.

    Converging strategic interests: not anchored

    Convergence of interests in preserving and promoting peace, stability and the rule of law in the South China Sea have paved the way for the establishment of the strategic partnership. However, the existence of common challenges is not the sole consideration for the strengthening of bilateral relations as it does not ensure the sustainability of a partnership. A strategic partnership anchored on the South China Sea issue is not the be-all and end-all of the relations. Equally important is the need to go beyond the South China Sea issue and develop the political, economic and socio-cultural aspects of the relations as national interests are not confined within the bounds of the security realm. This is aimed at further deepening cooperation, particularly in the areas of economic, agricultural, defense, and maritime engagement—areas that are truly vital to the strategic interests of both nations.

    Engagement between the two countries will be sustained through increased dialogue at high levels. This is stated in the Joint Statement on the Strategic Partnership issued by the Philippines and Vietnam, which states that there will be an increase in the frequency and modes of bilateral exchanges at all levels, including political parties, heads of state and government, national agencies, the legislature, local government units, and technical working groups. A hotline between senior leaders is also to be established. Hence, the strategic partnership will facilitate avenues for cooperation and reinforce people-to-people links.

    The strategic partnership is holistic and not just security-oriented. The Philippines and Vietnam are seeking to work closely together in the pursuit of common interests and objectives.

    People-to-people ties

    The partnership opens doors to broaden the two sides’ people-to people relationship. The bedrock of state-to-state relations is people-to-people linkages. Having a sense of appreciation and understanding of each other’s culture and values can potentially broaden and deepen mutual understanding between states and peoples. In 2014, amidst tensions in the South China Sea, Vietnamese and Filipino naval personnel played football, volleyball, and tug-of-war. Both sides displayed the importance of camaraderie through sports diplomacy.

    The rise of bilateral and regional educational and cultural exchanges (e.g. ASEAN Youth Cultural Forum, ASEAN Youth Summit, ASEAN University Network Scholarships, joint Philippines-Vietnam human resource development and training cooperation programs), influx of tourists brought about by visa-free travel and direct flights between Manila and Ha Noi have also facilitated close interaction between peoples. Increased dialogues between and among the business sectors, experts and policy makers, and among other concerned stakeholders have paved the way for the sharing of best practices. Hence, experiences obtained from these opportunities could increase improved perceptions, preferences, and the capacity to make informed reactions among decision makers from both sides. These opportunities for interaction and cooperation contribute to confidence-building as sustained cooperation between states requires a high level of trust.

    Economic and socio-cultural cooperation

    For the strategic partnership to be sustainable, both sides should also intensify their economic cooperation. Vietnam is a fast-growing developing country with a GDP per capita of USD 2,052.3 as of 2014.1 The country’s low wage and cost of utilities have attracted foreign direct investments, especially in the export-oriented manufacturing sector. This has helped Vietnam accelerate its economic growth to 6.0 percent in 2014. Vietnam’s main exports include telephones and mobile phones, textiles and garments, consumer electronics, footwear, crude oil and fishery.2 Moreover, Vietnam is one of the largest exporters of rice in the world (e.g. Vietnam supplies a third of the Philippines’ rice imports).3

    As Vietnam’s government prioritizes the development of electronics, textiles, food processing, agricultural machinery, and tourism industries, it is seen to be a bright investment spot in Southeast Asia which the Philippines could take advantage of. Retail systems like supermarkets, traditional markets, shopping malls, and online services are identified as a developing sector in Vietnam. It is a potential market for investment activities along with the food and agricultural processing sector.4 Philippines-Vietnam economic relations could further progress when mutually favorable conditions for the entry and expansion of investments, in accordance with respective laws and regulations, are created and maintained.

    Moreover, the easing of restrictions on foreign investment in real estate in July 2015 is expected to revive the property market in Vietnam. These developments will likely result in an upsurge in demand for well-planned residential and commercial properties, and therefore for professionals (e.g. architects, landscape designers, and engineers), technology transfer, and more importantly, investment in the infrastructure sector (including telecommunications and electricity services).

    On the socio-cultural front, as ASEAN integrates, the need for English language services will be crucial. This is an opportunity for the Philippines to work with Vietnam in the field of education, particularly in English language skills training.

    Further steps

    Beyond the strategic concerns, the two sides agree that other functional areas are ripe for further cooperation and engagement. In the years ahead, the Philippines-Vietnam strategic partnership should bear fruit for the peoples of the two countries and benefit the wider ASEAN region through shared peace and stability.

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  • Tesla Surmounts Supply Chain Woes With Blockbuster Q4 Deliveries

    Tesla Surmounts Supply Chain Woes With Blockbuster Q4 Deliveries

    Tesla Inc on Sunday reported record quarterly deliveries that far exceeded Wall Street estimates, riding out global chip shortages as it ramped up China production.

    It was the sixth consecutive quarter that the world’s most valuable automaker posted record deliveries. Tesla, led by billionaire CEO Elon Musk, delivered 308,600 vehicles in the fourth quarter, far higher than analysts’ forecasts of 263,026 vehicles. Tesla’s October-December deliveries were up about 70% from a year earlier and nearly 30% higher from record deliveries the preceding quarter.

    “Great work by Tesla team worldwide!” Musk wrote on Twitter.

    His electric car company ramped up production in China even though competition rose and regulatory pressure mounted following consumer complaints over product safety. On an annual basis, the automaker boosted its deliveries by 87% from a year earlier to 936,172 vehicles in 2021. Tesla ships China-made models to Europe and some Asian countries.

    On an annual basis, the automaker boosted its deliveries by 87% from a year earlier to 936,172 vehicles in 2021.

    Musk said in October last year that Tesla will be able to maintain an annual growth rate of more than 50% for “quite a while.”

    “They have beaten all the odds,” Gene Munster, managing partner at venture capital firm Loup Ventures, said on Sunday.

    “The first is the demand for their products is through the roof. And the second is they’re doing a great job of meeting that demand,” he said.

    Munster said he expected Tesla’s deliveries to grow to 1.3 million vehicles this year despite headwinds in production at its new factories and supply chain problems.

    Tesla Chief Financial Officer Zachary Kirkhorn said in October that it was difficult to predict how quickly the company will be able to boost production at new factories in Texas and Berlin, which will use new vehicle technologies and new teams.

    Tesla said in October that it aimed to build its first production cars at both facilities by the end of 2021, but it is not known whether it met that target. Tesla did not respond to a question from Reuters about the plants. Its Berlin factory had initially been scheduled to begin production last summer.

    Deutsche Bank said in a report on Friday that it expected Tesla to make nearly 1.5 million vehicle deliveries this year, although chip shortages remain a risk to production.

    In 2020, automakers cut chip orders as the pandemic and lockdown measures hit demand. But Tesla never reduced its production forecast with suppliers to support its rapid growth plan, which helped it weather the chip shortage, Musk has said.

    Tesla, which designs some chips in-house unlike most automakers, also reprogrammed software to use less scarce chips, according to Musk.

    Musk, who previously said, “2021 has been the year of super crazy supply chain shortages,” said in October that he was optimistic that those issues would pass in 2022.

    The strong sales came even after Tesla hiked U.S. vehicle prices sharply this year to offset higher supply chain costs.

    Tesla hit over $1 trillion in market capitalization in October after rental car company Hertz said it ordered 100,000 of its vehicles. The company’s shares lost some ground after Musk wrote on Twitter in November that he was considering selling 10% of his stake in Tesla.

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  • Samsung ‘shock’ as profits start to droop

    Samsung ‘shock’ as profits start to droop

    Samsung Electronics announced sharply lower earnings for the fourth quarter, an earnings “shock” that suggested that the “supercycle” in the global semiconductor market is nearing an end. Preliminary 2018 performance numbers released Tuesday predicted the local IT giant’s operating profit between October and December of last year would be 10.8 trillion won ($9.6 billion), down 28.71 percent year on year.

    This is the lowest figure since the first quarter of 2017’s 9.9 trillion won. Between those two quarters, operating profit had consistently stayed in the 14 to 17 trillion won range.

    Revenue for last year’s fourth quarter slumped 10.58 percent year on year to 59 trillion won. Last year’s third quarter saw record quarterly highs of 65.5 trillion won in revenue and 17.6 trillion won in operating profit.

    Local analysts had expected 13.4 trillion won in operating profit for the fourth quarter and 63.2 trillion won in revenue, according to the stock information provider FnGuide.

    Samsung did not reveal performance figures for different business divisions, but the company cited “slow demand” in semiconductors as a major factor in a public announcement the same day. The IT giant has three major business divisions: chips, smartphones and home electronics.

    The results for all of 2018 showed that the company had a record high operating profit of 58.89 trillion won, a 9.77 percent jump from last year, and 243.5 trillion won in revenue, up 1.64 percent year on year.

    Before starting to slow, semiconductors were the main contributors to Samsung’s high performance over the last two years.

    In the announcement, the company added that demand from data center clients in the fourth quarter had fallen short of expectations.

    “Shipping of memory chips retreated from the third quarter, and the price decline turned out to be bigger than what we expected earlier this year,” it said.

    One reason is because companies with data centers such as Amazon, Facebook and Microsoft bought large amounts of dynamic random-access memory (DRAM) chips during the last two years, which are now piling up.

    DRAM prices started to fall after more than a year of increases – another factor that is affecting demand as companies anticipate more price cuts.

    Slow growth in smartphone sales and one-off expenses including the company’s offering of incentives to staff at the year’s end also affected the profit level.

    Worries that the semiconductor supercycle was ending have surfaced for years, but Samsung and other chipmakers have reported strong earnings – until the fourth quarter.

    December’s chip exports from Korea retreated for the first time in 27 months. The general consensus among local analysts is that Samsung’s revenue will continue to shrink in the first half of this year.

    But they have a more positive outlook for the second half.

    “Memory chip prices will bounce back in the second half of 2019,” said analyst Lee Jae-yun of Yuanta Securities. “Because the supply growth rate of major chipmakers in 2019 will be 19 percent [year on year], whereas demand growth is expected to reach 20 percent.”

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  • Steelmaker Hoa Phat in the red after 13 years

    Steelmaker Hoa Phat in the red after 13 years

    Leading steelmaker Hoa Phat lost VND1.79 trillion ($73 million) in the third quarter, its first quarterly loss in 13 years.

    It reported revenues of VND34.44 trillion in the quarter, down 12% from the same period last year and 8% from the previous quarter.

    Its revenues have declined steadily after peaking in the fourth quarter of last year.

    Steel demand is down in both Vietnam and globally, raw material prices have risen sharply – by three times in the case of coal – and exchange and interest rates have become adverse, the company said to explain the loss.

    For the first nine months, the company’s revenues were VND116.6 trillion, with the steel segment contributing 90%, and profits topped VND10.44 trillion.

    It said the agricultural segment was profitable again, with revenues and profits rising by 10% and 32% year-on-year in the third quarter.

    Another major steel firm, Nam Kim, announced Friday that it racked up losses of over VND400 billion in the third quarter. It dragged the profits for the year down to VND290 billion, a sixth of the figure a year earlier.

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  • Line Launches Digital Bank in Indonesia

    Line Launches Digital Bank in Indonesia

    The country – the world’s fourth most populous – is its third overseas market, following launches in Thailand and Taiwan.

    Japan-headquartered mobile and internet services firm Line has launched a digital banking platform in Indonesia in collaboration with Bank KEB Hana Indonesia, a subsidiary of South Korea’s Hana Bank, and LINE Financial Asia.

    Line Bank by Hana aims to make banking easier and expand access to financial services in a country that counts one of Southeast Asia’s largest unbanked populations. Its product line includes savings accounts, time deposits, debit cards, and bill payments. Line said it plans to expand the range of products to include loans, partnership loans, and QR payments.

    In Indonesia in particular, due to this market’s unique geographical characteristics, we believe bringing banking services to people’s mobile phones will greatly increase their availability and convenience,» Young Eun Kim, Line Financial Asia CEO, said in an announcement on Friday.

    Founded in 2011 as a messaging app in Japan, Line has since grown into a global ecosystem that includes AI technology, fintech, and more. The company has lay the groundwork in Indonesia since 2018, when it became the second-largest shareholder of Hana Bank Indonesia when it acquired 20 percent of the company through a Share Subscription Agreement.

    Line has its work cut out in the country: it is competing in a crowded market with giants such as Gojek with Bank Jago, Sea Group with Seabank Indonesia, Akulaku with Bank Neo Commerce, and Kredivo.

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  • Google to improve shopping experience across platforms

    Google to improve shopping experience across platforms

    In its annual Google I/O livestream, Google has just announced a bunch of improvements it is bringing to the search platform (and others), aimed towards improving the experience of both merchants and customers when it comes to shopping online.
    Google introduces the “Shopping Graph,” a newly developed comprehensive dataset, backed by artificial intelligence, to help shoppers find exactly what they are looking for, updated in real time and ensuring products are currently available.
    The Shopping Graph is able to understand and tie together the billions of “products, sellers, brands, reviews and most importantly, the product information and inventory data received from brands and retailers directly.”
    The Shopping Graph will span all of Google’s platforms, connecting and inspiring people with things they may be looking for (whether they be virtual or physical) from what Google claims are over 24 billion listings from merchants online. This means you should be able to find what you are searching for even more easily than before, with Google adding new interactive features for interconnectivity between platforms as well.
    For example, Google Lens has been integrated into Google Photos to make searching for products online easier. Rather than screenshotting an item you are interested in and then forgetting about it, as soon as you snap that screenshot, Google Lens will analyze it, pick out objects within the image, and allow you to instantly search online for them (should you choose to do so).
    Google also teased a new user experience on its YouTube platform, which should be making it simpler to shop for products featured by your favorite YouTube creators. Hopefully this will alleviate the repeated-to-death phrase “links in the description, guys” (links which are sometimes forgotten as well)! Google didn’t us give any more details, other than that the new features are “in pilot.”
    We are also told to expect online shopping research and product comparison to get infinitely easier, with a new widget we’ll be seeing on our Google home page. We all know the hassle of trying to research the heck out of where a particular item is sold for the lowest price (such as the best new smartphone you may want to upgrade to).
    With so many shops and online retailers to review, most of us end up opening a hundred tabs on our browser until we can barely keep track of what’s where.
    Soon, every time you open a new tab, a widget across the center will display the carts across different sites where you’ve shopped the last few weeks. This should let you keep track of desired purchases or items to compare from different sellers much more easily. You can opt to be shown available discounts on your cart icons, as well as having integrated access to the loyalty programs of your favorite stores.
    Once your carts are full, Google will be able to send you notifications when prices of any items drop—only if you opt in, of course. Google has also announced a new collaboration with Shopify to facilitate your shopping experience across all of Google’s platforms: from Google Search to Google Lens, Google Maps, Google Images, and YouTube.
    We’ll keep you updated once we have more details on some of these changes!
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  • Uniqlo Launches New Game Model Worn by Global Brand Ambassador, Roger Federer

    Uniqlo Launches New Game Model Worn by Global Brand Ambassador, Roger Federer

    UNIQLO, Japanese global apparel retailer announces that it will offer replica game wear and other items worn at the 2019 Wimbledon Championships by its Global Brand Ambassador, Roger Federer. Items will be available from July 1, 2019 (Monday) at UNIQLO Orchard Central Flagship store and UNIQLO.COM. The new game wear model was developed by the design team at the UNIQLO Paris R&D Centre, led by Artistic Director Christophe Lemaire, in consultation with Roger Federer.

    Roger Federer – “It’s now been a year since I partnered with UNIQLO, and I still clearly remember the excitement of first walking on court in UNIQLO at last year’s Wimbledon Championships. I’m thankful to the design team at UNIQLO, and I appreciate UNIQLO’s efforts to have a vision beyond sports through its LifeWear philosophy. I’m looking forward to this year’s outfit as well as the many more opportunities to come.”

    Roger Federer model: A classic design for a classic tournament – The Roger Federer polo features a classic cutaway collar and design that is well suited to this traditional tournament and Roger Federer’s elegant playing style.

    Jointly developed by UNIQLO and Toray Industries, Dry EX features a special arched structure that dries faster than ordinary dry function material, preventing the steamy and sticky feeling due to perspiration to maintain comfort throughout play. The raised structure is well suited to the strenuous movements of tennis. Highly breathable mesh has been used in areas that accumulate sweat, helping to avoid overheating and allowing the athletes to be at their best during competitions.

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  • Ooredoo Qatar Chief Strategy Officer Shortlisted for Award Alongside Just 24 Leading Female Executives

    Ooredoo Qatar Chief Strategy Officer Shortlisted for Award Alongside Just 24 Leading Female Executives

    Munera Al-Dosari, Chief Strategy Officer (CSO) of Ooredoo Qatar, today joins an exclusive group of women shortlisted for the prestigious WeQual EMEA 2020 Awards.

    The Ooredoo CSO is one of just 24 world-class female executives nominated for the shortlist in the WeQual EMEA awards, which recognise and celebrate potential C-suite leaders. The nomination is based on the WeQual organisers finding successful senior women who are one level below C-suite. Each of the 24 finalists was assessed against seven criteria: Leadership, Cognitive Ability, Integrity, Drive & Resilience, Equality, Knowledge of the Business and Personal Development.

    Sabah Rabiah Al-Kuwari – Director PR at Ooredoo – said: “Congratulations to my colleague and CSO Munera Al-Dosari on being named as a finalist for WeQual EMEA 2020. This is a tremendous achievement and we welcome the way her existing industry recognition and reputation is beginning to reach a global audience.”

    Munera Al-Dosari – Ooredoo Qatar CSO – said: “I am proud to be shortlisted for one of these awards, among the first to target women at this level. As well as connecting me to like-minded female executives, it builds awareness of both Ooredoo and of this group of talented people from across the business world.”

    The WeQual Awards were founded by CEO Katie Litchfield in order to augment representation of women in leadership roles within the world’s biggest businesses, in response to her perception of a lack of diversity and equality in such roles and organisations.

    Al-Dosari joins a senior group of 24 executives who will become members of the WeQual Club, alongside an existing cohort of 72 senior FTSE and Fortune 500 female executives. A quarter of the winners of previous UK and US WeQual Awards have since been promoted to the executive committees of FTSE and Fortune 500 companies.

    After the assessment of all candidates, eight executive interviewers will hold 30-minuteinterviews with the three finalists in their category before each choosing a category winner.

    The winners will be announced in December 2020.

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  • Zara to open at Changi Airport

    Zara to open at Changi Airport

    Spanish clothing brand Zara will open a shop in Singapore’s Changi Airport in May.

    The new store, in Terminal 3, is part of a broader plan by Singapore Zara franchisee, Dubai-based Al-Futtaim Group, to ramp up the Zara brand’s retail offer in the city state.

    In the same month, Al-Futtaim Group will reopen the brand’s store in Ion Orchard, in the heart of the Orchard Rd shopping strip, after an extensive renovation and expansion.

    The Zara expansion plan was outlined in concert with revelation of plans to refocus the Robinsons and Marks & Spencer operations in Singapore. Al-Futtaim Group also has Royal Sporting House in its retail brand portfolio.

    The company plans to open the first stand-alone Royal Sporting House Junior store at Suntec City in May, ranging footwear for those aged between six and 12.

    Kesri Kapur, head of the Al-Futtaim Group’s Asian business said the changes were about reacting to “the ever-evolving retail landscape” in Singapore.

    He said the relevancy of the mall space had to be balanced with the brand profile, shoppers’ consumption patterns and increasing competition as well as Singapore’s labour shortage, so the business “stayed relevant in the retail market”.

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  • Bangkok’s premium retail complex Park Silom set to open in June

    Bangkok’s premium retail complex Park Silom set to open in June

    Park Silom, a premium mixed-used complex in the heart of prime Bangkok’s CBD Silom, is a collaboration between Nye Estate, Minor International and Siam Piwat. Synergizing their prestigious expertise, the three forefront developers are driving Park Silom into a ‘Third Space Retail,’ offering a new retail experience to Silom under the concept “Everyday Indulgence for New Breed City Living.” The new 39-storey complex on a 6-rai plot in the center of Silom with its retail space spanning over 5 floors is meticulously designed to cater to the lifestyle needs of individuals with high purchasing power, including local working professionals and international tourists, by providing them with a unique and modern way of daily living in the city. The planned date for the soft opening is set to take place in June 2023.

    Ms.Ornruedi Na-Ranong, Executive Directorof NYE & RPG Development Company Limited, said: “The Park Silom project has been developed under NYE & RPG Company Limited, a   joint venture between Nye Estate and Minor International Public Company Limited. It is a 39- storey high-end office and retail complex that spans over 6 rai in Bangkok’s central Silom’s area. The idea behind its creation is based on the ‘New Breed of Silom’ vision which takes into accounts the needs and lifestyles of the people and communities in the Silom area. The determination is to transform this land into a space that caters to the diverse needs of city dwellers while also connecting and empowering the Silom community, which is renowned for its dynamic nature. It is truly a Symbol of Dynamism.”

    She continued, “We are collaborating with Siam Piwat Company Limited, a leading property and retail developer to handle the management of Park Silom retail assets and properties. The partnership is expected to provide a thrilling and well-balanced urban living experience for the residents of Park Silom and surrounding areas on a daily basis. The place serves multiple purposes such as work, shopping, and a hang-out spot during the day. Moreover, it can provide a unique and vibrant to unwind after work. The soft opening is scheduled in June 2023.”

    Chanisa Kaewruen, Head of Corporate Strategy Group of Siam Piwat,  said “Siam Piwat adheres to ‘The Visionary ICON’, a corporate vision that reinforces its leadership in creativity, and is known for its exceptional expertise in developing and managing globally respected real estate and retail destinations.” Siam Piwat is  a leading property and retail developer, the owner and operator of world-class destinations, such as Siam Paragon, Siam Center, and Siam Discovery, and a joint venture partner of ICONSIAM and                        Siam Premium Outlets Bangkok.

    She pointed out that through the collaboration, Siam Piwat will enhance the retail management of the retail space on the first five floors of Park Silom, which spans an area of 9,300 square meters. The Silom area will soon experience a new concept of retail space that combines the comfort of home with the convenience of a shopping complex. This ‘Third Space Retail’ will be designed under the concept “Everyday Indulgence for New Breed City Living.” The aim of the project is to connect lifestyles of working individuals and affluent Thai and international tourists. This will be achieved by catering to their daily urban living and lifestyle needs in innovative ways.

    “The research conducted on retail business and consumer behavior in Silom and its surrounding areas has revealed a business opportunity to address the needs of the Silom community and fulfill their lifestyle requirements. This location offers great potential due to its position as a hub for many leading organizations, financial institutions, enterprises, and multinational companies, along with its surrounding population of high purchasing power.”

    “Our project is primarily focused on the new generation of working professionals in the Silom and Sathorn areas, who possess a high level of purchasing power. These individuals have a desire for an urban lifestyle and enjoy a balanced work-life. Furthermore, they seek to lead a vibrant and enjoyable life, while also taking care of their physical and mental health. Families who reside in the Silom and Sathorn districts, with high financial capabilities, as well as those who commonly travel to the area for purposes such as visiting hospitals, or being parents to students at renowned schools in the area, are our secondary targets. These households reflect the urban lifestyle and modernity of city-dwellers, possessing both a large purchasing power and an exquisite taste.”

    “Within the retail area, there will be a selection of more than 80 leading brands covering lifestyles, fashion, and wellness of the highest quality. The dining zone boasts an array of eateries, ranging from celebrated restaurants to innovative concepts, as well as cozy cafes, coffee shops, bars, and bistros. This vibrant hub of culinary delights is the perfect spot for a delicious meal and a new hangout spot in Silom. The Food Market is a premium supermarket zone dedicated to offering quality products, as well as providing a platform for new brands and a space to support the lifestyle of the modern generation who strive for a work-life balance. This location is an ideal spot for both shopping and socializing, attracting both office workers and tourists from both inside and outside of Thailand, once the country reopens. It is a perfect gathering place for those looking to enjoy the best of both worlds,” said Ms. Chanisa.

    Covering the first five floors of the building, the retail space commences on the basement floor under the name of THE HELP & SERVICES which offers a variety of shops and services tailored to provide convenience to customers. These include 24-hour shops, parcel delivery services, supermarkets, and leading restaurants among others.

    The G Floor is divided into zones, with THE BALCONY providing a comfortable and inviting atmosphere for brunch and all-day dining. An ideal meeting place for those in the Silom area, THE BALCONY is the perfect spot to relax and converse throughout the day. THE CELLAR offers a relaxed meeting space for people to unwind after work. SIVADON COURTYARD is a sprawling green space of more than 1 rai in front of Park Silom, offering a place for relaxation and a new experience for the Silom community. With many activities tailored to meet the needs of local residents and visitors alike, this courtyard is “the new lung of Silom”.

    THE LOBBY on the lobby floor houses chic cafes for starting the day or transforming the atmosphere into an informal setting for young professionals to gather and meet. THE DINING ROOM provides professionally selected restaurants to meet everyday dietary needs and energy replenishment.

    The 2nd floor is home to THE DRESSING ROOM, a collection of fashion and beauty stores offering an array of cosmetics, clothing, and accessories, and much more.

    Located on the 3rd floor, THE CLUBHOUSE & SPA offers a collection of stores that specialize in beauty and health care, as well as other related items.

    “Siam Piwat, a world-renowned destination developer, has accumulated knowledge, experience, and expertise in various aspects of real estate development, retail, department store business, food and beverage business, marketing communication, and real estate asset management. Confident in our ability to revolutionize real estate development and retail, we can create a remarkable, one-of-a-kind retail experience in the Silom area, adding both value and success,” concluded said Ms. Chanisa.

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  • Cloud innovations transforming UCC market

    Cloud innovations transforming UCC market

    Growing demand for custom solutions that seamlessly integrate with third-party business software is fueling the development of service-based business models in the unified communications and collaboration (UCC) market, according to Frost & Sullivan.

    Innovation in cloud communications is breaking the IP telephony and UC as a Service (UCaaS) silo, enabling players in the UCC market to expand their service portfolios. Multi-level disruption at the pricing, packaging, feature, functionality, and business model levels is also accelerating innovation and intensifying competition.

    “Diversified solutions portfolios and more holistic approaches are a necessity to support business transformation, but simultaneously maintaining core competencies is the key to success,” Frost & Sullivan digital transformation principal analyst Robert Arnold said.

    “Mobility, device independence, social capabilities, mashups and personalization will be significant elements of future-proof cloud communications solutions.”

    The challenges for companies operating in the global UCC space include continuing reliance on unamortized and premises-based solutions, preference for newer operating expenditure-based business models, and security and reliability concerns surrounding cloud-based deployments.

    Market majors, such as Vonage, Orange, AT&T, BT, Cisco, Slack, IBM, Vodafone, Microsoft, Tata, and others are attempting to overcome these issues by offering solutions with the deployment and integration flexibility customers increasingly require for UCC integration with workflows, along with the high quality and reliability that are expected of mission-critical services.

    This will validate for customers that making UCC integral to their digital transformation efforts will result in the best return on investment (ROI) as demonstrated through uninterrupted productivity, agility of business operations, and performance efficiency.

    “Cloud communication services adoption is accelerating as premises-based equipment markets decline,” observed Arnold.

    “Mergers and acquisitions in all market tiers and into adjacencies will persist as competitors seek scale and financial stability to round out their portfolios, enhance development resources, increase reach, and grow installed bases.”

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  • Grace over on Hong Kong bag fees April 28, 2015

    Grace over on Hong Kong bag fees April 28, 2015

    Hong Kong’s Environmental Protection Department (EPD) has warned retailers that from May 1 – Friday – they’ll face fines if they don’t charge customers for plastic bags.

    A month after the new law took effect, EPD officials have been issuing verbal warnings to retailers caught failing to charge customers a plastic bag levy. On April 1, a controversial law took effect forcing retailers to charge for bags – but rather than pass on the fees, they are allowed to keep them. That’s because the law is designed to reduce plastic bag usage in the territory, not raise revenue.

    Retailers who don’t charge a fee face instant fines of $2000 or even prosecution for second offences.

    An EPD spokesman said the full implementation of PSB charging has been largely proceeding smoothly at the retail level since April 1. Most retail outlets comply with the legal requirements and charge at least 50 cents for each plastic bag provided to customers, unless such use is exempted from the PSB charge.

    “A small number of individual retail outlets have been found contravening the law by distributing PSBs free of charge, leading to verbal warnings and on-site explanations of the legal requirements given to the shop operators concerned by EPD enforcement officers,” a statement from the EPD said.

    *Since late March, the Environmental Protection Department has set up promotion booths in popular shopping centres and retail outlets to educate the general public on details of the PSB charging scheme.

    Between April 1 and 25, about 7000 retail outlets were inspected by EPD officers with 62 verbal warnings given to non-complying stores including market stalls, grocery stores, bakery shops, fashion shops and shops selling computers, aquariums or other items. The contraventions included providing free PSBs for non-foodstuff or airtight food or free PSBs for both exempted items and non-exempted items, or providing non-woven bags or other kinds of plastic bags without charging customers, as well as offering rebates to customers to offset the PSB charge.

    The spokesman said the arrangement of giving verbal warnings against contraventions enabled retailers and members of the public to better adapt to the new requirements so that PSB charging could be implemented smoothly.

    “Starting from May 1, this Friday, immediate enforcement action including a fixed penalty notice or prosecution action will be taken against non-compliance with no prior verbal warning given by the EPD’s officers.”

    Exemptions apply to PSBs used for food hygiene reasons, such as for containing a food item which is unpackaged or contained in non-airtight packaging or in frozen/chilled state.

    PSBs used for the pre-packaging of goods are also exempt, while bags provided with services fall outside the scope of regulation.

    The spokesman said the EPD will continue to publicise the new measures and promote the green habit of “BYOB” (bring your own bag) among shop owners and the general public through various channels and public education campaigns.

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  • ‘Google Analytics for the offline world’

    ‘Google Analytics for the offline world’

    A young Malaysian entrepreneur has developed what he describes as “Google Analytics for the offline world” – a unique application aimed to revolutionise the way bricks and mortar store owners interact with their customers.

    TechInAsia.com reports that while ecommerce might be all the rage in the tech world, 94 per cent of total retail sales are being generated in bricks-and-mortar stores, (source: market research firm eMarketer).

    Considering that business-to-consumer (B2C) ecommerce sales worldwide are estimated to reach US$1.471 trillion by the end of this year, the size of the offline market is mind-boggling.

    This is what Lim Chee How, founder of Malaysia-based Tapway, is counting on; he believes Tapway is something store owners sorely need.

    “Whenever I purchased something through Amazon, they were really awesome at identifying who you are, what you have purchased, and giving you really personal recommendations,” Lim expains.

    “I’m a rock fan, so I always purchase CDs through Amazon, and when I returned to Malaysia [after studying abroad] I always shopped at this record store, but despite being a repeat customer, they couldn’t remember me at all. They couldn’t give me good offers and it was always the same boring welcome and goodbye message. That’s why I created this.”

    Much like Google Analytics, a lot of insight on shopper behavior and activity can be drawn from the data captured on Tapway’s platform, but it is up to the store owner to act on them.

    The startup’s basic package – which captures metrics such as walk-by traffic, visitor traffic, and average visit duration – relies on wi-fi presence and triangulation technology. It’s currently charging MYR100 (US$30) per month for this service.

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