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Tag: asia

  • UBS Secures New Office Space in Hong Kong

    UBS Secures New Office Space in Hong Kong

    Switzerland’s largest bank will lease 250,000 square feet of new office space in Hong Kong outside the traditional central business district.

    Swiss banking giant UBS will lease 250,000 square feet of new office space in Hong Kong, according to a statement by Sun Hung Kai, the developer of the property. According to them, UBS, as the first anchor tenant, will lease the top nine floors of the tallest tower in the West Kowloon terminus project, which connects Hong Kong and mainland China via high-speed rail.

    The project is expected to be completed by 2025 and UBS is expected to occupy the new premises in early 2026. The Swiss bank plans to relocate staff from four current locations in Hong Kong, including its six-floor main office at IFC, the city’s second-tallest building.

    The new office is located across the harbor from Hong Kong island, where the main central business district is based, and rent is estimated to be around half of that paid by IFC tenants. In addition, it sits atop the high-speed rail station that should keep travel from Hong Kong to southern Guangzhou to under an hour, which is ideal for the bank’s Greater Bay Area growth strategy.

    We are excited to be moving to the workplace of the future with state-of-the-art infrastructure that brings together and empowers all of our UBS colleagues in Hong Kong under one roof, said UBS’s APAC co-head of wealth management and Hong Kong chief executive

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  • Two regulators open investigations into Optus over data breach

    Two regulators open investigations into Optus over data breach

    Two Australian regulators said on Tuesday they have opened investigations into Optus, the country’s No. 2 telecoms provider, after a breach of its systems resulted in the theft of personal data from up to 10 million accounts.

    The probes only add to headaches for Optus, which disclosed the breach on Sept. 22 and has since come under heavy fire from the government and the public for not preventing the massive cyberattack.

    The Office of the Australian Information Commissioner (OAIC) said it was investigating whether the Singapore Telecommunications Ltd-owned company took reasonable steps to protect customer data and comply with privacy laws.

    The Australian Communications and Media Authority (ACMA) said it was investigating whether Optus met its industry obligations as a telecommunications provider in terms of the keeping and disposing of personal data.

    Amid the widening fallout, the federal government has flagged it will overhaul data security laws to force firms that have had a cyberattack to notify banks about customers who may be compromised. Several law firms are also considering filing class action lawsuits.

    The OAIC said in a statement if it finds that “interference with the privacy of one or more individuals has occurred”, it may force Optus to take steps to ensure the breach cannot be repeated.

    The agency added that it finds there was a breach of Australian privacy law, it can seek civil penalties of up to A$2.2 million ($1.4 million) per contravention.

    ACMA Chair Nerida O’Loughlin said in a statement that failure by telecommunications providers to safeguard customer information “has significant consequences for all involved”.

    Australian Competition and Consumer Commission Chair Gina Cass-Gottlieb told a parliamentary hearing the regulator was receiving 600 calls a day from people concerned about the Optus breach, although few had been scammed as a result.

    Optus said in a statement that it had received formal notices of investigation from both regulators and that it would fully engage with them.

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  • Velocity Ventures invests in automated Pizza store

    Velocity Ventures invests in automated Pizza store

    Velocity Ventures, Southeast Asia’s leading venture capital firm focused on helping travel and hospitality solve industry challenges will be the anchor investor for Hyper Food Robotics (Hyper), an Israel-based firm that will debut its first fully autonomous  robotic  pizza kitchens in 2023.

    With Hyper’s autonomous robotic kitchens, it takes 8 mins to cook a pizza for the end-to end process and the kitchen can produce up to 120 pizzas per hour. An unmanned kitchen can operate three times more efficiently as compared to a human-staffed kitchen by reducing overheads for labour and rental costs, and also minimising food waste. The modular units are easy to transport ensuring ease of scalability. Using AI technology, the robotic kitchen is able to ensure consistency in food quality and safety standards.

    Hyper is the brainchild of Udi Shamai, Yariv Reches and Harel Shafran. CEO Udi is a well-known entrepreneur and owner of Pizza Hut Israel with over thirty years of managing fast food restaurants. Faced with rising labour costs and challenges to recruit kitchen crew, Shamai decided to explore how robotics and automation could alleviate the persistent problems of manpower shortage. He decided to bring together a team of experts in the fields of food, robotics, and mechanics to design a fully autonomous store that can increase efficiency and reduce reliance on a human workforce in the food services industry.

    The goal is to design a self-contained total solutions robotic box kitchen for fast food restaurants which will replace an entire restaurant kitchen and automate the entire process from food preparation to cooking and even packing the food for delivery without the need for any kitchen crew to be involved. With modular autonomous kitchens, clients can essentially operate off-premises food services using a “plug and play” boxed kitchen, ensuring ease of scalability while maintaining manufacturing costs are kept economical. Shamai is also committed to ensure that quality assurance and food quality is not compromised.

    Nicholas Cocks, Managing Partner of Velocity Ventures said: “We are excited to be investing in the Future Restaurant Kitchen as we know that restaurants all around the world are facing a manpower crisis. Our strategic roadmap at Velocity Venture is to identify and propel startups that will solve problems faced by businesses in the hospitality and travel industry. Hyper’s robotic kitchen will be tomorrow’s disruptive technology for the food services industry as labour shortage challenges escalate because more people now shun back-of-house operations jobs. Automation and robotics can help companies achieve lower labour costs and improve productivity by taking over repetitive tasks in the kitchen, allowing restaurants to redeploy their employees to other parts of the business that will improve the customer experience.”

    Udi Shamai , CEO and Co-founder of Hyper Food Robotics “Having Velocity Ventures come onboard as our anchor investor is a major milestone for the team at Hyper. We debuted our pilot store in October 2021 in Israel with Pizza Hut introducing a robotic kitchen that can prepare and cook pizzas and side dishes. We envision exciting times ahead as we grow and scale globally with the right partners. We aim to launch Hyper “robotic box kitchens” internationally by next year which will be a gamechanger for any food services operator wanting to deploy a cloud kitchen in which all automated technology and production zones are packed within a self-cleaning shipping-container-like unit.”

    Velocity Ventures is the most proactive investor in the travel and hospitality tech space in Southeast Asia and including Hyper, has seven portfolio companies. The firm also aims to make ten additional investments in the sector by Q4 2023.

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  • TC Motor to sell Skoda cars from next year

    TC Motor to sell Skoda cars from next year

    TC Motor, a distributor and assembler of South Korean Hyundai vehicles in Vietnam, will start selling the popular Czech Skoda cars next year.

    Under a deal it signed with Skoda Auto in Hanoi on Oct. 7, TC will start by distributing imported Skoda cars first before assembling them.

    The two firms plan to build a plant in the northern province of Quang Ninh, with the first vehicles expected to roll out of it late next year at the earliest.

    Vietnam is the first Southeast Asian country where Skoda will build a factory. It plans to export vehicles assembled in Vietnam to other countries in the region.

    Skoda makes 11 models, with the Octavia being its bestseller, but the two companies have not revealed which model will be sold first in Vietnam.

    Last year, the Czech firm sold nearly 900,000 vehicles in some 100 markets around the world, with Germany and Russia being the biggest.

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  • Vietnam stock market becomes world’s worst performer

    Vietnam stock market becomes world’s worst performer

    Vietnam’s stock market was the world’s worst performer this week with an 8.5% decline.

    It was followed by Russia, down 4.8%, and Venezuela, down 1.87%, according to market data provider StockQ.

    Over the last four weeks Vietnam has been the world’s second worst performer behind Russia, with the VN-Index falling by 16.67%.

    The VN30 basket, comprising the 30 largest capped stocks, declined by 18.51% in the period.

    Some of the worst performers were private lenders Techcombank and VPBank and electronics retail chain Mobile World.

    The State Bank of Vietnam raised its policy rates last month to control inflation.

    The dollar has been rising to new peaks against the dong as well as most other currencies amid rising interest rates in the U.S. and geopolitical tensions.

    “Margin call pressure forced investors to sell off recently and the panic among investors has not subsided yet,” Phung Trung Kien, founder of asset management firm Vietnam Holdings said.

    “Cash flow to the market is quite limited these days as most of the important rates such as interbank interest rates have been increasing a lot.”

    Nguyen Anh Duc, head of institutional sales at SSI Securities Corp, said retail investors are “extremely panicky and they are taking flight without regard for which stocks they are selling.”

    But some investment funds, such as Coeli Asset Management SA and Asia Frontier Capital are looking to buy more of Vietnam stocks given the country’s long-term economic prospects.

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  • Aeon plans to triple Vietnam malls

    Aeon plans to triple Vietnam malls

    Japanese retailer Aeon plans to triple the number of malls in Vietnam by 2025 as part of its expansion strategy to meet the needs of a growing middle class population.

    A report said the number of Aeon malls will nearly triple to 16 throughout Vietnam.

    Aeon has some 200 stores in Vietnam at present, including six shopping malls.

    The stores are concentrated in Ho Chi Minh City and Hanoi, Vietnam’s biggest metropolises.

    A mall will be opened in the central town Hue in 2024.

    The company is also considering increasing its supermarkets in Hanoi to 100 by 2025, about 10 times the current number.

    Vietnam is “the most important market in our overseas strategy,” the report quoted a senior Aeon executive as saying.

    The country has a population of 100 million people with an average age of 33. Economic growth of more than 7% is expected this year in a repeat of last year’s performance.

    Aeon entered Vietnam in 2014 and has invested over $1.18 billion in the country to date.

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  • Adidas puts partnership with Kanye West under review

    Adidas puts partnership with Kanye West under review

    Adidas says it is reviewing its Yeezy partnership with Kanye West days after he showed a “White Lives Matter” T-shirt design at Paris Fashion Week.

    The company did not mention the controversy but said “successful partnerships are rooted in mutual respect and shared values”. The rapper and fashion designer responded on Instagram, claiming the firm “stole” his designs. That post now appears to have been deleted.

    Adidas told the BBC it had made the decision to put the partnership under review after “repeated efforts to privately resolve the situation.” A spokesperson for the German sportswear company also said that the “Adidas Yeezy partnership is one of the most successful collaborations in our industry’s history.”

    In his Instagram post, Mr West also used a strong expletive, adding “I AM ADIDAS.”

    Earlier this week, he was criticised after he presented a collection at Paris Fashion Week that included T-shirts with the slogan “White Lives Matter”.

    The phrase Black Lives Matter, which represents opposition to racism and police brutality, was widely used after George Floyd, an unarmed black man, was killed by a police officer in Minneapolis in the summer of 2020.

    Vogue’s Gabriella Karefa-Johnson, who is global fashion editor-at-large at the fashion magazine, was among those who criticised West over the T-shirts, calling the move “hugely irresponsible.”

    In response, Mr West responded by lashing out at Ms Karefa-Johnson and posted photographs of her mocking her appearance to his 17.9 million followers.

    “She was personally targeted and bullied. It is unacceptable. Now, more than ever, voices like hers are needed and in a private meeting with Ye today she once again spoke her truth in a way she felt best, on her terms.”

    The almost decade-long partnership between Adidas and West has been strained for some time.

    At the centre of their collaboration is a hugely popular range of sneakers – known as Yeezy – which cost hundreds of dollars, with new releases often selling out within minutes.

    In June, he accused Adidas of making a shoe that looked similar to the distinctive Yeezy design, but was not part of their deal.

    Adidas said it will continue to co-manage the partnership while the review is under way.

    The announcement from Adidas comes less than a month after West’s lawyers sent a letter to fashion chain Gap to say he would no longer work with the firm.

    He accused Gap of failing to honour terms of the deal, including by failing to open standalone stores for his Yeezy fashion label.

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  • US burger chain Five Guys to enter South Korea

    US burger chain Five Guys to enter South Korea

    FGE Worldwide Senior Vice President William Peecher (L) shakes palms with Hanwha Galleria Director Kim Dong-seon after signing an settlement at a lodge in Seoul on Wednesday. Picture courtesy of Hanwha Galleria

    SEOUL, Oct. 7 (UPI) — The U.S. quick meals chain 5 Guys Burgers and Fries plans to open its first retailer in Seoul early subsequent yr in a partnership with Hanwha Galleria, in line with Hanwha.

    The settlement was signed Wednesday with the Virginia-based burger franchise, with the dates and site of the primary retailer but to be decided.

    Hanwha Galleria, a luxurious retailer and an affiliate of Hanwha Group, plans to open greater than 15 5 Guys areas within the subsequent 5 years.

    The unique 5 Guys restaurant debuted in Virginia in 1986. The Murrell household, with 5 brothers, has headed the enterprise, which focuses on hamburgers, sizzling canines and French fries.

    In early 2000s, the corporate began franchising, together with international enlargement. At the moment greater than 1,700 5 Guys shops function throughout the globe with one other 1,500 beneath improvement.

    South Korea would be the fifth Asian nation to host the fast-growing model, following Hong Kong, Singapore, China and Malaysia.

    This would be the first deal headed by Hanwha Galleria Director Kim Dong-seon, the third son of Hanwha Chairman Kim Seung-youn.

    The junior Kim was prosecuted in 2017 for assaulting legal professionals at a cocktail party and stepped down from his Hanwha publish. He had been implicated in comparable circumstances twice earlier than.

    In 2019, nonetheless, he returned to administration and starting in February, he started spearheading the brand new enterprise technique group for Hanwha Galleria.

    With the 5 Guys entry, the competitors within the burger trade is anticipated to get much more heated with McDonald’s, Burger King and Shake Shack working in Korea.

    Particularly Shake Shack, launched in Korea in 2016 by meals large SPC Group, has efficiently focused the high-end, area of interest burger market. At the moment, there are 23 Shake Shacks across the nation.

    In the meantime, Korea’s main hen franchise firm BHC is on the point of open American fast-food chain Tremendous Duper Burgers in Korea, starting with a location in Seoul later this yr.

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  • Malaysian bubble tea chain brewing up rapid expansion, to revisit IPO plans

    Malaysian bubble tea chain brewing up rapid expansion, to revisit IPO plans

    Malaysia’s Loob Holding, which owns Southeast Asia’s biggest bubble tea brand by stores, will consider plans for a share listing once it reaches its target of operating 1,000 Tealive stores in the country by 2024, its top executive said.

    “By then, we may consider an IPO if the timing and pricing are attractive,” Bryan Loo, Loob’s chief executive officer, told Reuters in an interview.

    Loob, which opened its 800th Tealive store in Malaysia last month, had previously planned for a Malaysian IPO but put it on hold due to the coronavirus pandemic in 2020, according to a media report.

    In June last year, Loob gained funding from Malaysian private equity fund Creador, which bought a 30% stake in it but the companies did not provide financial details.

    “With Creador on board, our options for funding have indeed widened very much,” Loo said, adding that Loob was “adequately funded” for its current planned expansion.

    “So the question of whether we will go for an IPO and if so, in which market, is best re-visited a year from now,” said Loo, who founded Loob in 2010 and launched Tealive in 2017.

    Tealive makes and sells beverages ranging from pearl milk tea to coffee and has expanded to countries including Vietnam, the Philippines, Australia and the United Kingdom.

    The expansion comes a time when Malaysia’s economy grew at its fastest annual pace in a year in the second quarter, with consumer spending picking up strongly following the easing of coronavirus restriction. Other milk tea brands such as CHAGEE and KOI have also expanded rapidly in the Southeast Asian country.

    Loob is also gearing up to double Tealive’s store count in the Philippines annually, with a target of 300 stores by 2024 from 25 currently, Loo said.

    Besides Tealive, Loob also owns sparkling water maker Sodaxpress, kombucha brand Wonderbrew and coffee brand Bask Bear Coffee. Loob is expanding at a rate of 100 Tealive and 100 Bask Bear Coffee outlets a year in Malaysia, according to Loo.

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  • Banks expect Q4 interest rate hikes

    Banks expect Q4 interest rate hikes

    Most commercial banks expect deposit and lending interest rates to rise in the fourth quarter this year, a survey by the State Bank of Vietnam has found.

    The central bank’s survey, which polled 96% of all domestic and foreign lenders in Vietnam between August 25 and September 10, found that over 59% expect rates to go up by an average 0.37% points per annum in the last quarter this year.

    Over 66% of lenders anticipate that the average rate increase will be 0.56% points per annum.

    In the last four weeks, more than 30 lenders have increased their deposit interest rates by up to 1.9% points.

    Some are offering 7.45% per annum for 12-month deposits.

    The central bank survey also found that 88.3% of lenders expect positive pre-tax profit growth this year while 6.8% anticipate a decline.

    They estimate forecast capital mobilization growth for the year at 10.2%, lower than the credit growth of 14.9%.

    The State Bank of Vietnam (SBV) last week used open market operations to pump VND28.1 trillion ($1.18 billion) into the market and sold foreign currencies worth VND35 trillion.

    Tight liquidity has caused interest rates on loans to increase sharply. On Tuesday, the overnight interest rate surged to 8-9% per year. It was around 7.5% per year for other terms.

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  • Ministry refuses to lift special consumption tax on gasoline

    Ministry refuses to lift special consumption tax on gasoline

    The Ministry of Finance refused a proposal to exempt special consumption tax on gasoline given the country’s tax rate is at a low level compared to many other countries.

    The Vietnam Chamber of Commerce and Industry has recently proposed that the special consumption tax on gasoline be reduced to provide positive impacts amid global uncertainties.

    The ministry said gasoline is a non-renewable fuel that needs to be used sparingly. Most countries impose the tax for example, in France (0.66 euro per liter), Germany (0.35 euro), South Korea (311 won per liter of absolute tax and 15% tax rate), Singapore (S$.41), China (1.52 yuan), Thailand (up to 6.5 baht), Cambodia (15%) and Laos (16%).

    It said Vietnam’s special consumption tax on gasoline is lower than that of other countries, especially neighboring ones like Laos, Cambodia and China.

    The current special consumption tax on gasoline is 10% with the same rate applied to value-added tax. The Ministry of Finance is proposing that the former tax is cut by half, and the latter by either 20% or 50%.

    RON95 gasoline prices climbed to a peak in June before plunging to the current level of VND21,440 ($0.90) per liter, the lowest in 13 months.

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  • Vietnam websites overloaded with iPhone 14 orders

    Vietnam websites overloaded with iPhone 14 orders

    Platforms were overloaded with iPhone 14 pre-orders as the sales launch of the latest Apple smartphone model attracted tens of thousands of customers. Bao Tran in Ho Chi Minh City stayed up until 0:00 a.m. Friday to pre-order a purple iPhone 14 but the website she was on was frozen.

    She switched to another seller and its platform ceased to operate at the payment step. Tran then tried a third store but all the purple models were out and she had to select the gold option.

    Several platforms confirmed that they have recorded a surge in pre-orders. As of 10 a.m. Friday, FPT Shop recorded over 93,000 pre-orders and 15,500 of them had put down a deposit.

    This is a record high number of pre-orders for the electronic retailers. It tripled the number of pre-orders for iPhone 13. FPT Shop expects iPhone 14 sales to rise 200% from the previous model. Another distributor of Apple products, ShopDunk, recorded 1,500 pre-orders in the first 30 minutes, a six-time surge compared to iPhone 13.

    This means there was a pre-order for almost every second in the first half-hour of launching, said Pham Tuan Anh, a media representative for the company.

    “There will likely be a shortage for iPhone 14 Pro and Pro Max versions in the first week of delivery in Vietnam.”

    Many other stores reported that the all iPhone 14 Pro Max for the first delivery have been pre-ordered.

    iPhone 14 and 14 Plus, however, are still available. CellphoneS, for example, recorded these models in only 5% of its total pre-orders.

    iPhone 14 is sold from VND24.9 million ($1,040) to VND49.9 million in Vietnam.

    The first official iPhone 14s are set to be delivered to Vietnamese users on October 14, and the second delivery October 24.

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  • Binance Coins Suffers $100 Million Hack

    Binance Coins Suffers $100 Million Hack

    Binance has been hit with a hack that resulted in the theft of around $100 million of tokens issued by the crypto giant.

    $100 to $110 million of Binance Coin has been stolen, according to a spokesperson for Binance-backed BNB Chain. This is likely due to a hack involving the bridge, BSC Token Hub, which has now been suspended.

    BNB Chain is working with security services to freeze the transfer of stolen funds with at least $7 million already frozen.

    According to Binance co-founder Changpeng Zhao, the blockchain issues are contained now and the firm in all likelihood will cover any fund that the hackers get away with.

    The crypto market has been largely under pressure in 2022 with not only a $2 trillion plunge in market value but also an estimated $2 billion lost to hacks, often by North Korea-linked actors.

  • Airtel Debuts India’s First Virtual Reality Ads Powered by 5G

    Airtel Debuts India’s First Virtual Reality Ads Powered by 5G

    Airtel unveiled India’s first immersive Virtual Reality (VR) advertisement powered by 5G. The advertisement format on the Airtel Thanks app opens new avenues for brands to engage with consumers in an immersive environment that was previously not possible in the traditional advertising paradigm.

    The ultra-fast, low-latency 5G network ensures the 3D visuals and videos are life-like. Through this ad format, brands can offer their customers an immersive ad that is free of any lag, making it highly engaging. Airtel has roped in some of India’s leading brands such as PepsiCo and SonyLIV to create a pilot and demo the capabilities of this product at the Indian Mobile Congress.

    Today, the Indian advertising industry is in a flux, with more than 750 million mobile users increasingly spending more time on their mobile screens – an average of about 5 hours daily, according to an App Annie report. With reducing attention spans, brands are increasingly looking towards innovative mobile-first ad formats to connect with this next-generation audience, capture their attention and build awareness.

    Commenting on this, Adarsh Nair, CEO of Airtel Digital, said, “The biggest benefit of 5G is that it allows us to do more with low-latency. We are leveraging this technology to create India’s first ever immersive VR advertisement that offers brands a direct connect to consumers in a mobile-first environment. Brands can leverage this to create engaging, immersive and personalized experiences for their customers.”

  • Axis Communications Debuts First Axis Experience Center

    Axis Communications Debuts First Axis Experience Center

    Axis Communications has launched its first Axis Experience Center (AEC) in Singapore. Representing the first AEC in Southeast Asia, the state-of-the-art facility is designed to showcase cutting-edge security innovations and solutions. The launch reaffirms Axis’ commitment to elevating security standards not only in Singapore but also the broader region, for a smarter and safer world.

    The S$1 million Experience Center was unveiled at Axis Communications’ Singapore headquarters. The opening was graced by Jacqueline Poh, managing director at the Singapore Economic Development Board (EDB), as the Guest-of-Honor. Other distinguished guests included His Excellency Kent Härstedt, Ambassador to Singapore, Kingdom of Sweden, as well as senior leadership representatives from Axis Communications, Boudewijn Pesch, vice president, Asia Pacific, and Carl Malmqvist, regional director, South Asia Pacific.

    Through physical product showcases and interactive demonstrations, guests can experience first-hand the ability of future-ready technologies to deliver optimal security outcomes. This includes advanced surveillance systems encompassing features such as audio analytics, intrusion detection, automated access control systems as well as data analysis tools that yield actionable insights for better decision-making. As the 25th AEC globally, the Singapore facility is envisioned to serve as the center of excellence for the region. It will be joined by new AECs across key cities in Asia Pacific such as Kuala Lumpur, Jakarta, Bangkok, Bangalore, Mumbai, and Delhi, among others, unlocking further opportunities for growth and partnerships.

    Carl Malmqvist, regional director, South Asia Pacific at Axis Communications, said, “The digitalisation of Southeast Asia has reached a tipping point, driven by increasing awareness of the benefits that digital technologies can provide. We anticipate continued technology adoption and innovation to create opportunities for the growth of advanced security applications. Having an Experience Center in a regional business hub like Singapore provides Axis with the platform to better engage its ecosystem of stakeholders across Southeast Asia, facilitating collaboration essential to meet evolving security requirements in today’s increasingly networked environments. We look forward to working closely with trusted partners such as Singapore’s Economic Development Board to build smarter, safer, sustainable and efficient cities of the future.”

    Jacqueline Poh, managing director at the Singapore Economic Development Board, added: “We expect demand for advanced security solutions that incorporate digital technologies to grow in Southeast Asia as the benefits of digitalization become more widely known. Singapore’s strengths and capabilities in network security and advanced analytics, coupled with our hub advantages, make it an ideal location for the Axis Experience Center. We look forward to Axis’ plans to enhance our ecosystem by bringing private and public sector stakeholders together to address important and emerging security challenges.”

    Collaboration with like-minded industry partners both locally and regionally is a key factor in driving Axis’ growth in Asia. One such partner is Singtel, with whom Axis is currently exploring 5G use cases for security applications. 5G networks can support increased bandwidth that is essential for data aggregation and analysis, giving rise to more innovative security solutions in areas such as automation and machine learning.

    Dennis Wong, VP 5G Enterprise & Cloud, Singtel Group, noted, “Many enterprises are undergoing rapid digitalisation while exploring and developing 5G solutions for deployment in their industries. Singtel’s 5G network and Paragon MEC platform have been specially designed to help them address their business needs, improve operational efficiencies, and unlock new opportunities to advance in a 5G world. Such solutions, developed with industry partners like Axis, are currently being showcased and trialled at Singtel’s facilities such as the FutureNow Innovation Centre, Centre of Digital Excellence, as well as the 5G Garage, which is a live test facility, training centre and ideation lab. With the opening of the AEC, enterprises have a new avenue to secure the solutions and support they need to help them achieve their digitalisation goals and aspirations in Singapore and beyond.”

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