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Tag: asia

  • Tesla Achieves New Sales Milestone In China For September 2022

    Tesla Achieves New Sales Milestone In China For September 2022

    Tesla sold 83,135 China-made vehicles wholesale in September 2022, smashing its record of monthly sales in China, the China Passenger Car Association reported. The number marks an 8 per cent increase from August 2022 and outpaced more than the 5 per cent month-over-month growth of all wholesale electric vehicle sales in China, according to CPCA data. It set a record for Tesla’s Shanghai factory since production began in December 2019, and topped the prior sales record of 78,906 in June, as the U.S. carmaker continues to invest in China production.

    Globally, Tesla, last week said it delivered 343,830 electric vehicles in the third quarter, a record for the world’s most valuable automaker, but less than the 359,162 analysts on average had expected, according to Refinitiv. Tesla quickened its China deliveries after suspending most production at the Shanghai plant in July for an upgrade, which aimed to bring the factory’s weekly output to around 22,000 units compared with levels of around 17,000 in June, Reuters previously reported.

    The plant, which manufactures Model 3s and Model Ys, reopened on April 19, 2022, after a COVID lockdown, but only resumed full production in mid-June. Production accelerated despite heatwaves and COVID curbs that hit its suppliers in the southwest region of the country.

    China’s BYD continued to lead the domestic EV market with 200,973 wholesale sales in September, a nearly 15 per cent jump from August, as CPCA said higher oil prices and government subsidies continue to encourage more consumers to choose electric vehicles.

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  • Ikano Retail posts record revenue growth

    Ikano Retail posts record revenue growth

    Ikano Retail has recorded its highest turnover yet for the financial year to August 31, reaching US$1 billion across the five markets in which it operates Ikea stores – Malaysia, Singapore, Thailand, the Philippines and Mexico, equivalent to 41.2 per cent year-on-year growth.

    The increased sales were driven by the return of visitors to physical stores after two years of Covid-19 disruptions. CEO of Ikano Retail, Christian Roejkjaer, said there were 113 million visits to the group’s stores and shopping centres.

    In Malaysia, where the group operates four shopping centres, the company recorded $361.8 million in sales. Meanwhile, in the Philippines, where earlier this year it opened the world’s largest Ikea store in Pasay City, turnover reached $113.6 million.

    Sales in Singapore and Thailand reached $255.4 million and $276.6 million respectively.

    “Our shelves were not fully stocked as we would have liked it and our costs went way up,” said Roejkjaer. “Still, we are leading our markets for affordable, quality home furnishing solutions – and our customers appreciate that.’’

    The retailer is also accelerating its expansion plan after the easing of Covid-19 restrictions, planning to open its first compact city-centre concept store in Thailand later this year at The Emsphere, along with its third Mexico store.

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  • Mercedes’s largest dealer hits full-year profit target

    Mercedes’s largest dealer hits full-year profit target

    Hang Xanh Motors Service Joint Stock Company, a major Mercedes-Benz car dealer, reported pre-tax profits of more than VND240 billion (US$10 million) in the first nine months, exceeding its full-year target.

    Consolidated revenues were up 50 percent year-on-year at VND5.17 trillion. In the third quarter they rose 2.7 times to VND2 trillion ($83.1 million).

    Haxaco’s short-term debts increased by more than 60% to VND563 billion, while long-term debts, mainly in the form of convertible bonds, were around VND180 billion.

    Vietnam has three authorized Mercedes-Benz dealers, Andu and Vietnam Star being the others, and Haxaco has the largest market share.

    It has five sales agents in Ho Chi Minh City, Hanoi and Can Tho.

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  • Fedex Express Expands It’s Direct Presence in Cambodia

    Fedex Express Expands It’s Direct Presence in Cambodia

    FedEx Express, a subsidiary of FedEx Corp., has  announced it is establishing a direct commercial presence in Cambodia, to meet the country’s growing international shipping demands.

    With a direct presence in the country, businesses in Cambodia gain greater access to a wider portfolio of FedEx shipping solutions, while the local service provider continues to provide the local infrastructure for ground operations. Local customers will have access to a range of FedEx digital tools that makes shipping easier and more efficient through the FedEx website. This includes opening a new account, tracking shipment status in real time, creating shipping air waybills, scheduling courier pickups, and managing billing. Additionally, FedEx will now have dedicated Sales and Customer Service team members on ground to interact and provide enhanced logistics expertise to help local businesses grow their cross-border trade.

    Economic recovery in Cambodia is gathering speed with exports up 20% over the same period last year, reaching USD $27 billion during the first half of 2022.

    “FedEx continues to enhance its presence and services in emerging Southeast Asia markets like Cambodia to support the growth of small and medium sized enterprises (SMEs). Southeast Asia is one of the world’s fastest growing regions and its young and increasingly urbanized population is estimated to grow by 140 million new consumers by 2030,” said Kawal Preet, president of the Asia Pacific, Middle East, and Africa, FedEx Express. “Many of Cambodia’s biggest trading partners are located beyond the Asia region, in North America and Europe3 making a network like ours essential to provide greater access to international markets. As Cambodia’s stature in global trade continues to grow, its businesses need a more comprehensive range of services to help fuel the local economy.”

    “Expanding our direct presence in Cambodia enables us to be closer to our customers and deliver greater support for their international shipping needs. With a dedicated FedEx support team offering logistics expertise and access to an extended portfolio of time-definite international shipping services, we’re making shipping easier for Cambodian customers as they look to export to more international markets,” said Hardy Diec, managing director, FedEx Express Indochina.

    FedEx has been facilitating trade in Cambodia since 1994, offering international shipping solutions and connectivity through local service provider TSP Express. FedEx supports Cambodia’s coordinated efforts outlined in its Industrial Development Policy 2015 – 2025 to build an efficient transportation network to drive the country’s future economic growth. The FedEx direct presence in the country will help local businesses trade with ease and expand their reach to over 220 countries and territories that FedEx serves.

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  • AirAsia enhances facial recognition system at KLIA2

    AirAsia enhances facial recognition system at KLIA2

    AirAsia has enhanced its facial recognition system, FACES, by integrating it with Malaysia Airports EZPaz technology at Kuala Lumpur International Airport (KLIA2), offering an end-to-end contactless journey for passengers.

    FACES is now available across key customer touchpoints including mobile enrolment, check-in counter, pre-security check and boarding, for select domestic travel in the start-up phase. Passengers who have enrolled for FACES via the airasia Super App can now travel seamlessly from arrival at the airport, departure gate to the flight, without having to present their boarding pass after self-check-in.

    In addition to making the journey through the airport more seamless with contactless document checks and significantly less queuing time, FACES also increases operational efficiencies, safety and security for the airline.

    AirAsia Malaysia, CEO, Riad Asmat, who will be speaking at the upcoming FTE APEX Asia Expo in Singapore on 9-10 November, commented: “As we are back painting the skies red, it is more important than ever for AirAsia to be focusing on implementing digital innovations that take the hassle out of air travel, providing a more seamless and efficient customer experience. It is also an opportune time for our facial recognition system to take centre stage following the government’s recent announcement of face masks no longer mandatory at public places and in flight.

    “As a digital and contactless procedure, which includes online check-in anywhere, anytime in the world with a click of a button, FACES is a definitive game-changer and a revolutionary enhancement to help restore confidence in air travel. From today, the new technology is available on selected flights from our main hub in klia2 as a start, and there are myriad of opportunities for us to expand FACES at other touchpoints such as self bag drop at the airport, payment features on our airasia Super App and many others across our airline and digital businesses.

    “Delivering the best value, choice and innovation has always been in our DNA and we are thrilled to join forces with Malaysia Airports to make the airport future-ready at a time where demand for air travel is rapidly returning to pre-pandemic levels. We look forward to deploying our contactless FACES technologies in  every  airport we operate to in the near future to make flying more convenient, efficient and seamless than ever before.”

    Enrolment for FACES can be done on the airasia Super App with a passport or a National identification card and a one-time verification process at dedicated airport counters W15 and W16 at KLIA2. Alternatively, guests can also enrol for FACES at the same counters.

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  • Netflix announces new ad-supported plan

    Netflix announces new ad-supported plan

    Brace yourselves – ads are coming…to Netflix. The streaming platform has formally bid farewell to its ‘no ads’ policy and announced today its first ad-supported plan in an official blogpost.

    The ‘Basic with Ads’ (as if Netflix could have devised a more unappealing name) plan will cost US users just $6.99 per month, a full $3 less than the current entry-level option, and will be available in the beginning of November.

    According to Netflix, the ‘Basic with Ads’ plan will bring the best of what Netflix has to offer, at a much lower price tag. Naturally, however, there are a number of caveats.

    As indicated by the name, users will have to stomach a barrage of ads both before and during their favorite Netflix titles. The ads are going to be between 15 and 30 seconds in length, with an average total ad time of about 4-5 minutes per hour.

    For reference, this means that users could be forced to watch up to 20 ads in the span of a single episode of a TV show.

    However, this is not the only downside of Netflix’s new subscription plan. Because of legal reasons, a number of titles will not be available at launch and users will not have the option to watch any content offline.

    In a nutshell, you will be getting a decidedly less pleasant viewing experience, a smaller library to choose from and the detriment of always having to rely on a stable network connection. Quite a steep price to pay in order to save $3.

    At the very least, the video quality will remain in line with what users would find on the standard Netflix ‘Basic’ plan (i.e. up to 720p or HD). Lastly, the new subscription tier will not affect existing plans.

    The ‘Basic with Ads’ plan will launch on November 3 at 9 am PT and will be available in 12 countries.

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  • Global inflation hits major seafood exporters

    Global inflation hits major seafood exporters

    Rising global inflation caused sales of two major seafood exporters Vinh Hoan and Sao Ta to plunge as consumers in their main markets tighten spending.

    Vinh Hoan, a pangasius export giant, saw September revenue plunging 28% from August to VND917 billion ($37.96 million), its biggest decline in eight months. Exports to the U.S. dropped 37% year-on-year and to China, 52%.

    Sao Ta, a shrimp exporter, saw sales falling 10% from August to $19.8 million, its second monthly decline in a row. The financial figures of the two companies reflect the difficulties Vietnam’s seafood industry are facing.

    billion VND (VND1 billion = $41,399)Vinh Hoan’s monthly revenues, 2022

    Seafood exports fell to a seven-month low of $850 million in September, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). This is because of declining consumption in the U.S., EU, China and the U.K., which have been recorded since July.

    Shrimp exports reached $350 million, up 13% year-on-year, the slowest growth rate among major seafood products.

    Analysts of ACB Securities said shrimp is considered a high-end product and during difficult times consumers tend to switch to cheaper protein.

    Sao Ta leaders forecast that there would not be any major breakthrough in sales for the remaining months due to rising global inflation. They, however, are confident that the company’s earnings targets will be achieved.

    Thanks to strong recovery in the first half year, VASEP forecasts that Vietnam’s seafood exports would reach this year’s target of $11 billion by the end of November.

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  • Crypto.com Establishes European Headquarters

    Crypto.com Establishes European Headquarters

    Singapore-based Crypto.com chooses Paris as the location for its regional headquarters after getting regulatory approval in a number of countries.

    Digital asset platform Crypto.com has selected Paris as its base in Europe. It expects to invest 150 million euros ($145 million) in France to establish operations and hire staff for its compliance, business development, and product functions, according to a statement issued Wednesday.

    In September, Crypto.com received regulatory approval to offer products and services to French customers after being green-lighted by regulators in the UK and Italy earlier this year. The platform is also accelerating its expansion regionally after it acquired South Korea’s payment service provider PnLink and virtual asset exchange OK-BIT in August.

    According to its website, the group was founded in Singapore in 2016 and it now claims 50 million customers worldwide.

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  • BMW Has Partnered With AirConsole To Deliver Games On Its EV Infotainment Systems

    BMW Has Partnered With AirConsole To Deliver Games On Its EV Infotainment Systems

    BMW has partnered with AirConsole which will enable the implementation of causal video games on infotainment systems of electric BWMs. Drivers and passengers of BMW vehicles can access the games. The partnership has happened via the BMW Startup Garage Program which works as a venture client unit for early stage startups. The BWM startup garage program takes startups that have graduated from accelerator programs and help them validate their prototypes.

    New games will be added to BMW vehicles via over-the-air updates. The games will be available on BMW vehicles that have curved screens and its EVs. Drivers will only need their smartphone to use as a controller and they can connect to the system by scanning a QR code.

    “With AirConsole we will leverage innovative technologies combined with a broad variety of fun and multiplayer games. This will make every waiting situation inside the vehicle, such as charging, an enjoyable moment,” said Senior VP, Stephan Durach, who leads the connected company at BMW.

    BMW is looking to offer cordless console experiences to its customers in a bid to emulate what Tesla has achieved with its infotainment system.

    “We are extremely proud to spearhead gaming inside vehicles with BMW and are excited to create new games for in-car entertainment. Our ingenious architecture coupled with the ease of access of our platform will change the way people get entertained in their vehicles,” said Anthony Cliquot, the CEO of N-Dream.

    No word has been shared on to which games will be available at launch. AirConsole will share more information near the launch in 2023.

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  • Maxis in Metaverse Aims to Provide Immersive, Engaging Experiences for Customers

    Maxis in Metaverse Aims to Provide Immersive, Engaging Experiences for Customers

    Maxis is exploring the future of living, working, playing and learning in the metaverse. This is in line with its Rangkaian Kita Rangkaian Malaysia (RKRM) campaign to serve all Malaysians in every way possible and at all times.

    RKRM is the reinforcement and deepening of Maxis’ Always Be Ahead brand purpose. Maxis is driven by its evolution from a mobile telecommunications provider into a connectivity and digital solutions expert, one that offers solutions for every segment, powered by its leading 4G network and fiber coverage, as well as the best 5G innovation.

    While still in its preliminary stages, Maxis in metaverse aims to provide a unique destination for an immersive experience with highly engaging, relevant and rewarding interactions. Through the platform, Maxis provides a glimpse into the possibilities of what the future may look like from multiple perspectives – from essential services, customer engagement, enterprise solutions, gaming, talent procurement and immersive education – and is building an ecosystem of partnerships with multi-industry verticals.

    “The metaverse mirrors our brand purpose and our What’s Possible core value as it expands minds to the possibilities of what we can do in the digital future to continue serving our customers in the best possible way,” said Patrick Er, Maxis’ chief sales and service officer.

    In kickstarting this exploratory phase, Maxis has unveiled Malaysia’s first Virtual Telco Store in the metaverse, Maxis Centre Decentraland, a connected retail experience in the metaverse to benefit customers with specific offerings. Users will be able to shop for Maxis products and services using the latest 3D technology; view and develop ideas on how they can transform their homes with Maxis home devices powered by Maxis Fiber; and even purchase collectible NFTs through collaboration with Malaysian artists.

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  • Telenor Asia Headquarters in Singapore to Capture New Market Growth

    Telenor Asia Headquarters in Singapore to Capture New Market Growth

    Telenor Group has announced the formation of Telenor Asia, a more independent regional entity with headquarters in Singapore. Telenor Asia will take on full oversight and responsibility for the company’s operations in Bangladesh, Malaysia, Pakistan and Thailand.

    “The strengthened team at our Singapore headquarters will add value to our operations and safeguard our regional interests. This will also help us ensure value creation of our assets. We will explore structural partnerships or, in the future, a potential IPO,” said Jørgen Rostrup, head of Telenor Asia.

    “The foundation for our continued growth in Asia is how our services help improve people’s lives and empower societies. In a recent survey we conducted of 8,000 people in South and Southeast Asia, a resounding 93% said that mobile connectivity improved their quality of life,” he added.

    Each market will now have dedicated Investment Management teams. These teams will take on an asset manager role and represent Telenor’s interests in local boards. The team in Singapore will also be strengthened with expertise in finance, operations, risk management, governance, people management and responsible business.

    In 2021, Telenor Asia signed merger agreements in Malaysia and Thailand. These mergers are the largest and second largest in Southeast Asia. When the two mergers are completed, Telenor Asia’s portfolio will comprise leading telco players in three large Asian markets, with more than 200 million customers and US$10 billion in revenue.

    To achieve a target of US$1.2 billion in cash flow by 2025, Telenor Asia will realize synergies from the two mergers and maximize opportunities across three areas.

    The first is increasing mobile adoption and data usage in Bangladesh and Pakistan. There are more than 150 million people in these two countries without mobile devices, and 50% of the current customer base subscribe to voice services only.

    Second, Telenor Asia will grow business-to-business (B2B) revenue. Current revenue contribution to Telenor Asia from this sector is around 5%, with large growth potential. Throughout the pandemic, when the overall telco sector was contracting, Telenor Asia’s B2B revenue was up by 10%.

    Third, focus will be placed on expanding customer value by offering services beyond core mobile connectivity, such as insurance, security and gaming products.

    Telenor has been present in Singapore since 1998 and has a diverse workforce of over 180 employees. Singapore is also home to Telenor’s global procurement company, where a team of skilled professionals manages complex supplier relationships and ensures responsible supply chains. Telenor Connexion, which provides cutting-edge IoT solutions, has a team of sales professionals covering Asia Pacific from Singapore. Telenor’s journey in Asia began with Bangladesh in 1997. Fast forward 25 years, Telenor has 165 mil

  • Netflix partners with a TV ratings agency in preparation for its ad-supported tier

    Netflix partners with a TV ratings agency in preparation for its ad-supported tier

    Netflix continues with its preparations to launch an ad-supported tier. The streaming giant has signed up with a TV rating agency, which will report Netflix’s viewing figures to the agency’s subscribers, including various advertisers.

    If you are wondering who Netflix’s new lucky partner is, the answer is a British TV rating agency called BARB — which stands for Broadcasters’ Audience Research Board. It reports viewership statistics for mainstream services like the BBC and ITV and over 300 subscribing broadcast channels.

    Starting November 2nd, BARB subscribers can see the ratings of Netflix’s shows and movies. Previously, the streaming giant only released snapshots of its viewing data to show off the success of its most popular shows. However, to find the most profitable slots to place their ads, advertisers need more than just snapshots, so it is no surprise that Netflix has decided to partner with a TV rating agency.

    Unfortunately, there is still no exact date when we could expect Netflix to launch its ad-supported tier. As we reported in May, the streaming service hopes to launch its new subscription plan by the end of the year. As for the price tag of Netflix’s new tier, we expect it to be around $7-$9 a month.

  • Ralph Lauren launches cafe in Pavilion KL

    Ralph Lauren launches cafe in Pavilion KL

    US luxury fashion label Ralph Lauren has launched a cafe in Malaysia, part of its plan to strengthen its presence in the Southeast Asia market.  The new coffee shop is located at Pavilion Kuala Lumpur, right next to its fashion retail space. It provides both on-site and takeaway services and is adorned in Ralph Lauren’s signature white and green. Customers can purchase the brand’s exclusive blends, including Ralph’s Roast, Decaf, and Espresso, which are roasted and packaged in Phil

    The new coffee shop is located at Pavilion Kuala Lumpur, right next to its fashion retail space. It provides both on-site and takeaway services and is adorned in Ralph Lauren’s signature white and green.

    Customers can purchase the brand’s exclusive blends, including Ralph’s Roast, Decaf, and Espresso, which are roasted and packaged in Philadelphia by La Colombe and use ethically cultivated beans from Central America, South America, and Africa.

    Ralph Lauren was established in 1967 and specializes in the creation, promotion, and sale of high-end lifestyle goods across five different categories, including clothing, home goods, fragrances, and hospitality.

    In 2014, Ralph Lauren launched its first coffee shop in New York City. Since then, it has expanded its network of coffee shops and Ralph’s Coffee trucks.

    Opening its first Asia outlet in Hong Kong in 2018, the company just opened a new store in the region in July, expanding its portfolio in Mainland China. Ralph Lauren also has operations in Japan and France.

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  • Swedish fashion label Filippa K launches into Mainland China

    Swedish fashion label Filippa K launches into Mainland China

    The online store features the brand’s new autumn/winter 22 collection, as well as the core women’s, men’s, active and loungewear collections.

    Creative Director Liisa Kessler’s first collection for Filippa K, the spring/summer 23 pre-collection, will be available from November.

    Filippa K’s CEO Rikard Frost said: “Scandinavian customers have loved Filippa K for many years, so I’m very excited to have introduced the brand to China this year. The house has a unique position within high-end fashion, offering a distinctly Scandinavian design perspective that’s rooted in sustainability. I hope the Chinese audience will appreciate this approach as much as we do.”

    Mei Chen, head of fashion and luxury in the UK, US and Northern Europe at Alibaba Group, said: “The Chinese market offers great potential for Scandinavian fashion brands, where there is a strong demand for timeless Scandinavian design and quality goods with a sustainability profile, qualities which Filippa K embodies. Connecting brands like Filippa K with over 1 billion consumers, Tmall continues to support businesses in their international growth strategy.”

    Filippa K was founded in 1993 by designer Filippa Knutsson. She stepped away from the creative director role in 2019 but remains as a shareholder.

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  • Milo x Speedo makes a splash with limited-edition swimwear launch

    Milo x Speedo makes a splash with limited-edition swimwear launch

    The collaboration we didn’t know we needed until now!

    Two of Australia’s most iconic brands, Milo and Speedo, have joined forces for summer’s hottest collaboration, the Milo x Speedo limited-edition swimwear range, sure to stir up some summer vibes and nostalgic fun. 

    I mean there’s nothing more Aussie than having a glass of Milo (cold of course) after swimming all day in your Speedo. Whether it be in the pool or at the beach. That’s what summer’s all about!

    There’s something for everyone with four iconic Speedo swimwear styles, plus a towel and swimming cap, get your summer swag on!

    The range will also be available to purchase in store and online from Speedo from the 10th October 2022 while stocks last. Get in quick and stir up some swimming fun. 

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