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Tag: asia

  • Marina Bay Sands launches exclusive digital offer

    Marina Bay Sands launches exclusive digital offer

    The Shoppes at Marina Bay Sands has launched a digital platform allowing shoppers to browse and reserve online exclusive lines not available in stores outside its mall.

    The new O2O initiative not only helps the mall promote its exclusivity and premium luxury positioning, it drives foot traffic offline into the mall.

    Shoppers can reserve the Shoppes-exclusive items – like the Kwanpen Men’s Boutique Crocodile leather briefcase pictured above – for 48 hours before heading to the physical boutiques to purchase the goods.

    The Shoppes team says the online service is another initiative to showcase the mall’s unmatched collection of luxury offerings. Shoppers who use the free service are also in for treats and seasonal privileges upon purchasing in-store, including attractive shopping rewards, complimentary day parking, as well as be the first ones to receive firsthand updates on the newest limited edition products debuting at The Shoppes.

    John Postle, VP of retail with Marina Bay Sands, said: “We are always looking for ways to engage our shoppers while leveraging existing digital platforms to showcase product offerings that set us apart. Through this service, we want to bring convenience to our customers and make them feel special when they arrive at their destination, knowing that their item is waiting for them.”

    For its launch, the website will feature a selection of luxury bags from international brands including Bally, Brioni, Kwanpen Men’s Boutique, Roberto Cavalli, Salon by Surrender, Salvatore Ferragamo and Zilli.

    To celebrate the launch of the service, shoppers will receive a S$100 shopping voucher on top of complimentary parking, upon purchase of their reserved item from now until August 31.

  • Tesco Asia carve up likely

    Tesco Asia carve up likely

    A carve-up of Tesco Asia operations seems increasingly likely with credible reports in three different nations now of serious expressions of interest.

    While markets await firm news of progress of HSBC’s quest to find a buyer for the Tesco Korea business, the latest news is that Japan’s Aeon has expressed interest in buying Tesco Malaysia, reportedly valued in the region of £900 million.

    That follows an approach from Thai billionaire Dhanin Chearavanont late last year who prepared a speculative bid by his company Charoen Pokphand Group (CP) to buy back the troubled Tesco Plc’s Thai business, which he sold during the Asian financial crisis. That bid was initially rejected but if Tesco is selling its Korean and Malaysian operations it is likely to let Thailand go as well if it can gain a fair price.

    If all three sales were to proceed, it would almost certainly see the Tesco Asia operations rebranded under new owners – in Thailand, most likely under the Lotus brand, in Malaysia stores would be merged into Aeon’s existing network and in Korea – that would entirely depend on the successful bidder.

    Reuters has reported reliable sources confirming Aeon’s interest in Tesco Malaysia. Aeon is cashed up, has a heavy focus on expanding across Southeast Asia and a merger of its network with Tesco’s would give it 29 stores, making it a formidable competitor to local hypermarket operator Giant, which has a lower market positioning to Aeon’s more premium offer.

    The Japanese retail and property giant entered Malaysia by acquiring the Carrefour operation in 2012 for €250 million.

    Meanwhile, KKR has reportedly rejoined the race to buy Tesco Korea’s Homeplus network which is estimated to be worth US$6 billion, after sweetening its preliminary offer. All the prospective shortlisted buyers reported by the UK and Korean financial press are private equity companies, including Affinity Equity Partners, Goldman Sachs, Carlyle Group and MBK Partners.

    However in a market as complex as Korea, it is highly likely any of those bidders would want to partner with a local retail operator for the business connections and local market knowledge.

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  • Vietnam tablet market soars

    Vietnam tablet market soars

    The rapid growth of the Vietnam tablet market is boosting the potential of eCommerce in the fast-maturing Southeast Asian nation.

    New figures from GfK this week show the growing number of lower priced entry level tablets has seen a double digit growth in sales in first five months of this year – or 149,000 extra units – to reach 582,000.

    GfK projects the media tablet market will achieve even higher sales in the third quarter of the year with the anticipated back to school promotions, with annual sales estimated to hit 1.9 million for the year.

    Yet the total amount spent on tablets has fallen by about five per cent, due to the greater contribution of those lower value media tablet models.

    “Over three in every four (76 per cent) media tablets sold so far in 2015 cost less than US$300, as compared to just one in two (50 per cent) in 2014; signifying a strong shift in market trends towards the low-end segment,” observed Tran Khoa Van, MD of GfK in Vietnam.

    “The result of more media tablets being sold at lower prices brought about a shrinkage in the total market value in spite of strong consumer demand for the gadget.”

    On the other hand, high-end media tablets priced above US$500 which accounted for 29 per cent of the total market’s sales volume had reduced by half to make up only 14 per cent share in the first five months of this year. A similar trend is seen in the US$300-500 segment, where its 22 per cent share last year was reduced to 11 per cent in 2015.

    According to GfK findings, the average price of media tablets declined by 30 per cent from US$367 last year to US$259 this year. Although the number of brands catering to the Vietnamese market reduced from 56 to 49, the remaining players have introduced 20 more new models – from 278 to 298.

    Another emerging trend is the rising popularity of smaller screen sized media tablets, specifically the 7.9” and below segment. Over seven in 10 (71 per cent) of media tablets purchased this year were of this size, up from its 62 per cent market share last year.

    On the other hand, it was the 9-10” segment which reported a dwindled market share by half – from 26 to 13 per cent.

    “Price erosion is a natural progression of a tech product’s lifecycle and the average price of media tablets will definitely be drifting down further from the low of US$250 reported in the latest tracked month of May,” said Van.

  • Marina Bay Sands delivers Scoops of Hope

    Marina Bay Sands delivers Scoops of Hope

    Marina Bay Sands’ family of celebrity chef restaurants have joined hands to craft exclusive gelato flavours for Scoops of Hope, a new addition to this year’s Sands for Singapore Charity Festival.

    From 31 July to 9 August, the public can savour eight delectable flavours at the Scoops of Hope pop-up gelato station at Marina Bay Sands, while giving back to the community at the same time. All proceeds will go towards The Straits Times School Pocket Money Fund, which lends a hand to children from low-income families.

    Marina Bay Sands CEO and president George Tanasijevich, said, as home to nine outstanding celebrity chef restaurants, Marina Bay Sands’ Scoops of Hope project is an excellent way to harness its combined culinary talent to benefit the less privileged.

    “We invite the public to join us in this.”

    The gelato flavours also play a special tribute to Singapore during this national celebratory period. Cut by Wolfgang Puck is contributing Gula Melaka gelato, an ingredient commonly used in local traditional desserts. Adrift by David Myers is creating Masala Teh Tarik gelato, a spin on the popular milk tea beverage. Waku Ghin by Tetsuya Wakuda will be rolling out Coconut with White Miso gelato, reminiscent of the famous local dessert Chendol, a personal favourite of Chef Tetsuya.

    A special flavour has also been created to commemorate the 170th anniversary of The Straits Times, Singapore’s oldest English-language daily. Created by executive chef of Marina Bay Sands, Christopher Christie, the multi-colour ST gelato comprises creamy White Chocolate with Raspberry, topped with crunchy Blue Sprinkles, incorporating the corporate colours of the newspaper as it crosses its milestone this month.

    Already, the first 170 scoops of the ST gelato have been bought by a private donor of the The Straits Times School Pocket Money Fund, which is also celebrating its 15th anniversary this year. The scoops of gelato will be redeemed by beneficiaries and their accompanying caregivers from 31 July. Another corporate donor of ST School Pocket Money Fund – Ascendas Funds Management (S) Limited – has also donated S$50,000, in support of the Scoops of Hope initiative.

    The Straits Times School Pocket Money Fund is a community project initiated by The Straits Times to provide pocket money to children from low-income families to help them through school. The Fund supports over 10,000 children and youth each year. Since the project started in 2000, the Fund has disbursed close to $42 million and helped over 128,000 cases of children and youth in providing them with monthly school pocket money.

    The Scoops of Hope project is also made possible with support from Carpigiani Gelato University and Allied Foodservice Equipment Pte Ltd. Carpigiani Gelato University, which has a mission to develop the art and science of gelato production, offered expertise and training in gelato making, while Allied provided the requisite equipment.

    From 31 July, gelato lovers can visit the pop-up store at The Shoppes Canal Level, B2 (Opposite Cold Storage) from 11am to 9pm. The gelato is priced at S$4.50 for a single scoop, S$8 for a double scoop and S$12 for a triple scoop.

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  • Five Indonesian telcos launch LTE on 1800-MHz

    Five Indonesian telcos launch LTE on 1800-MHz

    Indonesia’s five largest mobile operators have all launched 1800-MHz LTE services, while a new player has indicated an intention to enter the LTE market.

    Telkomsel, PT Indosat, XL Axiata, Hutchison’s 3 and Smartfren all recently rolled out 4G services over the band in various cities and regions.

    Telkomsel switched on its network in Makassar, South Sulawesi, Indosat went live in Balikpapan, East Kalimantan, XL held a lunch on the island of Lombok, 3’s network has been rolled out to Banjarmasin, South Kalimantan, while Smartfren activated its network in Batam, Riau Islands.

    Mobile operators have been rushing to roll out LTE services in Indonesia after the government opened up use of the 1800-MHz band for 4G.

    Telkomsel, XL Axiata and Indosat have already launched LTE over the 900-MHz band. Incumbent Telkomsel already has 620,000 LTE subscribers, while XL Axiata has around 200,000.

    The report adds that Berca Hardayaperkasa, a unit of Central Cipta Murdaya, has revealed plans to enter the increasingly crowded 4G market as well. The company is targeting a launch in Bali, Makassar and Pekanbaru in October.

    Central Cipta Murdaya has committed up to $150 million to deploy the service in the three cities. The company is ultimately planning to launch in 12 cities outside Java. Berca was originally a Wimax operator, having secured 2300-MHz spectrum in 2009.

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  • Taxi services with apps springing up like mushrooms

    Taxi services with apps springing up like mushrooms

    Taxi services equipped with booking applications are springing up like mushrooms in Indonesia as people are seeking more reliable means of transportation amid the country’s poor public transportation facilities.

    GrabTaxi, Uber or even the newly established ojek (motorcycle taxi) app Go-Jek are rapidly spreading in the country’s major cities.

    Nadiem Makarim, founder and CEO of the Go-Jek app, said that he came up with the idea to establish Go-Jek in 2011 out of his own need for fast and reliable transportation and also courier services in the capital city.

    The company, which was first established to serve Jakarta commuters, has quickly expanded its services and is now also available in Bandung, West Java; Denpasar, Bali; and Surabaya, East Java.

    “The expansion is based on the city’s traffic jam level, the supply of ojek drivers and the city’s economic level since our users are from the middle and upper-middle class,” he told The Jakarta Post. “We are planning to further expand our presence in other cities across the country, but we cannot mention the names of the cities just yet,” he continued.

    Since Go-Jek launched its mobile app in January this year, its number of ojek partners increased from 1,000 to 10,000 amid rising demand. The app itself has been downloaded 650,000 times since it was launched, Nadiem said.

    The marketing head of Malaysian company GrabTaxi’s Indonesian representative office, Kiki Rizki, similarly said that the company’s presence in Indonesia was aimed at tapping the rising demand for safe and reliable transportation in the country’s main cities.

    “We see a similar transportation problem in big cities across Southeast Asia. Residents basically need public transportation that can offer security, convenience and speed, which is what we offer at GrabTaxi,” Kiki told the Post.

    She said that the GrabTaxi service — which incorporates thousands of selected drivers from five leading taxi fleets in the country and assigns available taxis to nearby commuters using mapping and location-sharing technology — was now available not only in Jakarta but also in Surabaya and Padang in West Sumatra.

    The application displays the identity of the driver, the license plate of the taxi that will pick up the passenger and its estimated arrival time.

    “By using this application, customers don’t have to worry about being ripped off by taxi drivers, as they can monitor their journey and be informed of the driver’s identity,” she said.

    The company also decided to launch GrabBike, which is similar to the Go-Jek service, last month, and had since accommodated more than 1,000 ojek drivers, Kiki said.

    Similarly, one of its global competitors, Uber, also does not operate its own fleet. While GrabTaxi partners with official taxi drivers, Uber partners with licensed chauffeur-driven limousine or rental car companies. The operation has been, however, criticized by the city administration regarding its legality.

    According to the Castrol Stop-Start Index examining traffic conditions in 78 cities and regions around the globe, Jakarta ranked as the city with the highest number of stops and starts with an average of 33,240 per driver per year.

    East Java’s Surabaya was also included on the list, with the fourth-highest stop-start average, reaching 29,880 per year.

    Jakarta currently has one rail-based form of public transportation, a commuter train operated by PT KAI.

    While the government is currently constructing an MRT system in Jakarta and will soon start the construction of a tram system in Surabaya, little attention has been given to improving city bus management. Metromini and Kopaja minibuses in Jakarta, for instance, are currently owned and operated by private owners, without a united management system.

    Transportation Ministry spokesperson Julius Andravida Barata, however, said that the ministry would not legitimatize motorcycles as public transportation, saying that there were no safety requirements regulating motorcycles to serve as a means of public transportation.

    “The ministry will not regulate ojek because motorcycles don’t meet the standards for proper public transportation, but we also can’t deny that these mobile applications are emerging based on demand from the public,” Julius said.

    “The ministry, in cooperation with the city administration, will try its best to improve city transportation so the public can have reliable public transportation that meets safety standards,” he continued, citing that the management of public transportation, however, was the responsibility of the city
    administration.

    From the total Rp 64 trillion allocated for the ministry in the revised 2015 state budget, the ministry allocated less than 10 percent or Rp 6.07 trillion for the directorate general of land transportation.

    Julius said that the ministry would provide 1,000 buses for Damri and state-run city bus companies (PPD) across the archipelago this year, which, according to him, was part of the government’s support for city transportation.

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  • Flipkart to use Singapore image search tech

    Flipkart to use Singapore image search tech

    Flipkart, India’s largest online marketplace, has started rolling out image searching on its mobile shopping app which it clams will revolutionise the shopping experience.

    Flipkart is using ViSenze technology developed in Singapore for visual search and image recognition.

    The image search system allows users to upload photos of fashion items and find similar products in terms of color, pattern or style inside the Flipkart merchandise database. This eliminates keywords guessing when searching for a product, thereby simplifying the search process.

    Additionally, users browsing Flipkart’s catalogue can find visually similar products with a single tap. This brings offline-like shopping experience to mobile, acting as a virtual “shop assistant” who would show products of same color or design when users see something they like.

    This simplified search experience comes handy on the online marketplace that lists over 30 million products and is accessed by 45 million registered users, 75 per cent of them via smartphones. These new features are currently in beta and are due to be released to all users in the upcoming days.

    “We are proud we have managed to offer a solution that is also capable to handle unique needs for the Indian market such as ethnic wear,” said Oliver Tan, CEO and co-founder of ViSenze.

    The tech company originates from an R&D spin-off from the National University of Singapore, and develops highly advanced visual search algorithms, combining state-of-the-art deep learning with the latest computer vision technology to solve search and recognition problems faced by businesses in the visual web space.

    The company provides its visual technology APIs through a Software-as-a-Service offering to online retailers, content owners, brands and advertisers, app developers and digital publishers, enabling their platforms to recognise products for retrieval purposes or instant purchases.

    “The partnership with Flipkart not only attests to the strength of our products, but also reinforces our mission to enable retailers to capitalise on smart innovations in visual technology to uplift conversions, while empowering shoppers with real-time ability to search without the hassle of keyword guessing. And we will continue to innovate in this area,” said Tan.

    Key clients using the company’s image search service include internet retailers and marketplaces like Caratlane, Zalora (a Rocket Internet company), Reebonz, and Rakuten Taiwan, as well as patent search engines like PatSnap.

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  • Indonesia AirAsia gets letter on positive equity position

    Indonesia AirAsia gets letter on positive equity position

    AirAsia Bhd’s 49% affiliate PT Indonesia AirAsia (IAA) has received a letter from Indonesia’s Transport Ministry laying out terms for it to ensure a positive equity position by July 31.

    In a filing with Bursa Malaysia yesterday, the low-cost carrier said it was going through the letter and intended to meet with the ministry.

    It said the letter had no immediate effect on the Indonesian operations and that the airline would at all times continue to operate within the ambit of Indonesian laws.

    A recent report by The Jakarta Post said 13 airlines in Indonesia had until July 31 to move their balance sheets into positive figures, in order to avoid having their operating permits suspended.

    The ministry discovered that these airlines had negative equity, which occurred when the value of an asset used to secure a loan was less than the outstanding balance on the loan.

    Indonesia’s Transportation Minister Ignasius Jonan was reported recently as saying it was important for airlines to maintain positive equity, as it affected an airline’s financial ability to maintain safety standards.

    Under the new regulations, planes with a capacity of 70 seats or more must have a paid-up capital of 500 billion rupiah (RM143.4mil).

    Credit Suisse aviation analyst Muzhafar Mukhtar said this development would raise the local capital injection into IAA by 25%, and limit the potential forms in which it may come.

    “AirAsia has been working on raising for IAA US$86mil in equity from local partners and US$100mil in convertible bonds from new investors. IAA’s negative equity is US$230mil. The convertible bonds can be replaced with convertible preference shares.

    “AirAsia could also convert amounts owed to it into equity; locals need to stump up the remaining to maintain majority local ownership. Either way, capital required from locals is higher than previously thought,” said Muzhafar in a report.

    He also warned that if IAA’s operating permit was suspended, it might mean the closure of the airline.

    However, Muzhafar opined that a closure of IAA should be very positive for AirAsia shareholders in the longer run, although there would be a period of transition – keeping sentiment negative (up to 75 sen per share of amount due from IAA could be written off; reported profits would decline as lease income from IAA disappeared).

    Maybank Kim Eng Research analyst Mohshin Aziz said it was unlikely that Indonesian regulators would force abrupt compliance with the equity regulation, and cause the loss of thousands of jobs.

    “Which government wants to do this (cut thousands of jobs)? Out of the 13 affected airlines, I believe more than half would find it very difficult to comply. The Indonesian regulators are likely to give some concessions with regards to compliance,” said Mohshin, who also opined that equity should have no bearing on airline safety.

    “Of course, an equity positive company would give a better feeling of comfort. But in reality, safety rather depends on the airline’s discipline, procedures, etc, etc.”

    Another bank-backed aviation analyst said he believed IAA had a good chance of fulfilling the Indonesian regulation on positive equity.

    “It is just a question of pumping in money, and IAA management has been optimistic.”

    However, the analyst was less certain about IAA’s plans on its financial turnaround.

    “The Indonesian market is unique – there is relatively much less access for consumers via the Internet, and it is not easy to manage seats,” said the analyst.

    AirAsia closed unchanged at RM1.49 yesterday, with a market capitalisation RM4.15bil.

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  • ‘Team Singapore one for all’ $15m tourism spend

    ‘Team Singapore one for all’ $15m tourism spend

    Singapore Changi Airport, Singapore Airlines and the Singapore Tourism Board are to invest S$20m ($14.8m) on a coordinated effort to encourage more visitors to engage in leisure, business and MICE activities.

    All three parties have agreed a two-year partnership aimed at enriching Singapore’s appeal to more visitors through an enhanced and coordinated approach, involving the country’s national airline, its leading airport and the destination as a whole.

    The 15 ‘visitor markets’ that are initially being targeted with this new ‘one for all’ approach include Australia; China; Germany, Hong Kong; India; Indonesia; Japan; Korea; New Zealand; the Philippines; Taiwan; Thailand; Vietnam; the US; and the UK.

    In a joint statement, the trio say that they hope to refine the Singapore experience to leisure visitors coming to and through Singapore and Changi Airport, along with intensified direct marketing efforts to consumers and through trade partnerships.

    In addition, the partnership is also investing some of its money to increase marketing investment aimed at business travellers and MICE (Meetings, Incentives, Conventions and Exhibitions).

    Singapore Airlines CEO, Goh Choon Phong said: “This partnership demonstrates our commitment to further developing our home base as a travel hub and promoting Singapore as a destination of choice. We are pleased to continue working closely with STB and CAG and draw on our respective strengths, to promote sustainable growth of inbound travel to and through Singapore.”

    Lee Seow Hiang, CEO of the Changi Airport Group added: “One of the key initiatives in this collaboration is developing and enhancing joint programmes that will contribute towards strengthening the global mindshare and perceptions of both Singapore and Changi Airport.

    “We look forward to working together to leverage our collective strengths and insights and to amplify our efforts to promote the Singapore experience.”

    Adding his comments, Lionel Yeo, CEO of the Singapore Tourism Board said: “Our airline and airport are an integral part of the Singapore experience. The new product offerings demonstrate SIA, CAG and STB’s commitment to provide today’s discerning travellers with a more seamless and in-depth experience.

    “To constantly refresh and add value to the visitor experience, it is essential for the industry to rally together; STB looks forward to more partnerships with the industry.”

    The three partners says that one of the ‘key highlights’ of this new initiative is the introduction of the Stopover Premium package which is an upgraded version of the Singapore Stopover Holiday. They say this is the latest in the three partners’ ongoing efforts to create more distinctively targeted experiences for travellers with different needs to enjoy Singapore more fully as a destination.

    This is being aimed at both premium leisure and business travellers and includes stays in selected five-star hotels with breakfast and Wi-Fi, priority hotel check-in services and private transfers (for ‘Club’ room stays).

    Other exclusive ‘privileges’ include spa discounts or shopping vouchers and access to a variety of premium leisure experiences across the island (first and business class passengers only).

    The partnership is also offering a ‘refreshed’ and enhanced Free Singapore Tour, aimed at taking transit passengers on a free guided tour of Singapore’s heritage attractions and city skyline.

    The new programme now boasts longer itineraries, more iconic landmark sights, photo stops and additional tour timings. The Singapore Tour has proved hugely popular over nearly three decades, with more than one million visitors taking advantage of the offering since it was first introduced 28 years ago in 1987.

    It currently includes several attractions (see below) including Little India, Chinatown, the Colonial District, the main business district and many other attraction.

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  • Alibaba’s chairman tells US businesses: ‘You can sell almost anything’ online in China

    Alibaba’s chairman tells US businesses: ‘You can sell almost anything’ online in China

    Jack Ma, chairman of China’s dominant e-commerce company, says Alibaba can help U.S. businesses sell to the more than 500 million consumers expected to make up China’s middle class by 2025.

    Alibaba Group doesn’t want to compete with Amazon.com Inc. for sales inside the United States—rather, the Chinese e-commerce giant wants to help small and medium-sized U.S. businesses sell online in China, Alibaba executive chairman Jack Ma said today in Chicago.

    “We are the e-commerce enabler,” Ma says. “We do not buy and sell like Amazon because we think that SMB’s already know how to sell easily and effectively. We help others do e-commerce, find customers, help with payment and help with logistics.”

    Ma is making a tour of the U.S., following a similar one to Europe last week, seeking to introduce a company that is mainly known in the West for its record-breaking $25 billion stock offering on the New York Stock Exchange in September.

    Ma spoke today with Kenneth Chenault, CEO of American Express, at the Chicago Millennium Knickerbocker Hotel today. No partnership between American Express and Alibaba was announced, although Ma did say “[Alibaba] should leverage and work with global companies like American Express.”

    Ma explained that Alibaba is already helping small U.S. businesses sell to China, and he emphasized the opportunity represented by China’s growing middle class, which he said will number more than 500 million by 2025, Ma said. In 2014, the value of purchases consumers and businesses made on Alibaba’s sites totaled $390 billion. And the 10 million mostly Chinese small and midsized business that sell on Alibaba’s marketplaces, particularly the Taobao and Tmall retail shopping portals, accounted for 95% of those transactions, Ma said. In the next five years, Ma predicts Alibaba’s transaction volume will reach $1 trillion. In 10 years, he hopes 40% of sales will come from businesses outside of China.

    “When you have 120 million people shopping on our site every day, you can sell almost anything,” he said.

    Because China does not have the extensive bricks-and-mortar retail infrastructure of the United States, Chinese consumers rapidly moved to shopping online, Ma said. E-commerce is expected to make up 24.2% of Chinese total consumption by 2020, Alibaba says. As an example of the opportunities open to foreign companies, Ma pointed out that Chinese consumers bought 300,000 “German lake crabs” in one day last year on Alibaba’s site. Farmers from the Pacific Northwest sold 600 tons of cherries through Alibaba last year, after selling 180 tons in 2013, Ma wrote in a column published this week in the Wall Street Journal.

    Ma said that Chinese consumers love American products, and that imports represent a big part of the continued growth of not just Alibaba but also China. His trip to the U.S. follows a recent visit to Europe, in the hopes of enticing foreign companies to sell on Alibaba sites. Ma said his goal is to and turn Alibaba into the largest import platform in the world.

    “In the next 20 years, China will grow to be the largest importer country in the world,” Ma says. “But, Chinese resources like the water, soil and air could never support such a huge demand. I think if China keeps exporting we will never see the blue sky in China. We have to leverage global resources to serve the 1.3 billion people.”

    While Ma downplayed suggestions Alibaba intends to compete with U.S. e-retailers, it has been investing in the United States. That includes taking stakes in Snapchat, a mobile image sharing app; TangoMe Inc., a video call app maker; Quixey Inc., a mobile search provider; and ride-hailing service Lyft Inc.

    Last year, the company also launched 11Main.com, a shopping portal for boutique U.S. retailers.

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  • Agri-Food and Veterinary Authority allows importers to resume sale of India-made Maggi noodles …

    Agri-Food and Veterinary Authority allows importers to resume sale of India-made Maggi noodles …

    NEW DELHI: Singapore’s food regulator declared Maggi noodles imported from India to be free from health risks, bringing some respite to Nestle. The manufacturer had been ordered to withdraw the locally made product from shelves in India because of excessive lead content and mislabeling.

    The Agri-Food and Veterinary Authority of Singapore (AVA) ordered the resumption of India-made Maggi in the citystate, which has among the most stringent rules on public hygiene. Nestle India surged on the news, ending 9.4% up on the National Stock Exchange, its biggest daily increase in five years. The share had plunged by more than 10% last week as the controversy ballooned, culminating in the nationwide withdrawal of Maggi noodles ordered by the Food Safety and Standards Authority of India.

    Singapore had asked retailers to stop selling the product last week, pending tests, after the furore in India over the product. The island-nation imports a wide variety of foods made in the country to cater to expats and locals that are sold through stores such as Mustafa Centre in the Little India area.

    Results from AVA’s laboratory tests showed that the India-made Maggi instant noodles met local food safety standards, according to a report in The Straits Times. The Maggi noodles exported to Singapore is identical to the product sold in India, said a company spokesperson. “They are manufactured at the same plants,” the person said.

    AVA also tested Maggi instant noodles produced in other countries and these too met food safety requirements, the report said. At press time, the UK’s Food Standards Agency (FSA) hadn’t reached any conclusion on India-made Maggi noodles. The FSA was checking whether the product contained excessive levels of MSG along with Nestle UK and the European Commission.

    Nestle UK only imports the masala flavour of the product from India, the FSA said on its website. It also said that the “batch of noodles originally tested by the authorities in India, which was found to contain lead, was not sold in the UK… Following the incident in India, we have taken the decision to test for levels of lead in a selection of Maggi noodles as a precaution.”

    A spokesperson from the Food Standards Agency said: “The FSA is now testing this (masala) flavour and other flavours as a precaution. As tests are currently ongoing, these results are not available at this time.

    We have requested the information on the test results and batches involved from the Indian authorities via European Commission channels.” The India and Singapore food regulators couldn’t immediately be reached for a response.

    Maggi noodles became an integral part of the Indian diet after being launched in the country in the early 1980s. Nestle’s troubles began when excessive levels of lead were found in samples tested by the Uttar Pradesh regulator. The day before FSSAI issued its order, Nestle decided to withdraw Maggi noodles from shelves in India.

    “We withdrew the product from shelves because consumers’ trust was shaken,” said Nestle global CEO Paul Bulcke in New Delhi last week. “We want Maggi noodles back on shelves as soon as possible.” The food regulator rejected Nestle’s queries regarding testing procedures in India. FSSAI said the tests had been carried out on the noodles and the seasoning or tastemaker together and separately.

    It also admonished the company for labeling the pack with the line ‘No added MSG’ (monosodium glutamate), saying this was unacceptable in markets such as the US. FSSAI has since ordered the testing of other noodle brands.

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  • Alibaba chairman: No, seriously, we’re not competing in the US

    Alibaba chairman: No, seriously, we’re not competing in the US

    Ever since Wall Street’s interest in Chinese e-commerce giant Alibaba reached a fever pitch last year, investors and analysts have focused on one major question: When will the company expand into the US and take on Amazon and eBay?

    Jack Ma, Alibaba’s charismatic founder and executive chairman, visited New York this week to try to dispel that notion.

    “When are you going to come to invade America?” Ma joked, during a Tuesday speech before the historic Economic Club of New York at the Waldorf Astoria’s Grand Ballroom. Instead, he countered, “The strategy for us is helping small business in America go to China, sell their products to China.”

    While that pitch to help small businesses sounds positive and uncontroversial, US onlookers and competitors could be excused for not believing Ma. The US retail market remains the largest in the world — with China coming in second — so it’s not a stretch to think Alibaba’s long-term plans could eventually include coming to America. That means Amazon, eBay and others may someday be facing a major, new competitor on their shores and US consumers will get to know the name Alibaba.

    For now, the company has been positioning itself as a partner for US businesses, hoping it can act as a bridge for them to reach the Chinese market and become a more influential global retail player along the way. To do that, though, Alibaba needs to build trust with US retailers and not appear as a rival.

    “I think a lot of this is time frames,” said Scot Wingo, executive chairman of ChannelAdvisor, which provides research and other tools for online retailers. “I think right now [China is] definitely their priority. I think two years from now I’d be shocked if they didn’t have a more direct US presence.”

    Alibaba’s focus on small US businesses makes sense in the short-term, Wingo said, since many retailers using Alibaba’s websites have told his company they don’t have enough inventory of Western goods to meet the surging demand of their Chinese customers. ChannelAdvisor is a partner with Alibaba’s Tmall Global, which helps import products to China.

    Today, Alibaba makes nearly all its revenue in China and has little exposure to the US. The company opened online retail site 11 Main in the US last year and has a handful of investments in US businesses. While that’s not nearly enough to interest most US customers, Wall Street last year swooned for Alibaba — the largest e-commerce company in China — when the firm raised $25 billion on the New York Stock Exchange, pulling off the biggest initial public offering ever.

    Ma doesn’t plan to stop there, saying his goal is to make his company bigger than Walmart and eventually generate annual gross merchandise volume — the total value of goods sold on Alibaba’s websites — of $1 trillion. To get there, though, Ma and Alibaba will likely need more partners.

    “We did not come here to compete,” Ma said Tuesday. “We come here to bring the small business.”

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  • Singaporean retailers thrive on online market

    Singaporean retailers thrive on online market

    A study by eBay shows that Singapore’s tech savvy retail exporters, who use the company’s online market place, sell to an average 41 international markets.

    eBay defines retail exporters as those sellers on its site who garner US$10,000 in sales to global customers (that is buyers outside of Singapore).

    According to an eBay spokesman, Singaporean retail exporters have been experiencing solid growth on the back of a revitalised US dollar. In South-east Asia, Singapore is ranked second in terms of reach behind Thailand. Interestingly, Singapore’s ranking is five destinations higher than US retail exporters.

    Jason Lee, director, eBay South-east Asia, noted that the US is the top trade corridor for Singaporean retail exporters.

    “An exciting trend for Singapore businesses seeking new revenue streams is the speed in which entrepreneurs are able to become a retail exporter, with 22 per cent of Singaporean retail exporters on eBay hitting the US$10,000 sales mark in the past year alone,” he added.

    The top three categories that Singaporean retail exporters sell on eBay are jewellery and watches, cell phones and accessories and clothes, shoes and accessories.

     

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  • Swissotel to Enter Indonesian Market; Signs New 170-Room Resort in Bali

    Swissotel to Enter Indonesian Market; Signs New 170-Room Resort in Bali

    Swissotel Hotels & Resorts, a leading brand in the FRHI Hotels & Resorts (FRHI) portfolio, today announced that it has entered into an agreement with resort developer PT. Bali Ragawisata to manage Swissotel Bali, a new 170-room resort scheduled to open in late 2017.

    Situated on a striking cliff top in Bukit Pandawa, an expansive and upscale master-planned resort development, Swissotel Bali will enjoy an enviable location on the island, mere minutes from top attractions favoured by international jet-setters and a short drive from the Ngurah Rai (Denpasar) International Airport.

    Designed by TONTON Studio, a leading design firm with extensive experience in high-end hotel development across Indonesia, the resort will offer scenic views of the Indian Ocean from stunning guestrooms featuring spacious outdoor balconies. Completing the guest experience will be a private beach club, four exquisite dining outlets including a spectacular bar, the brand’s signature Purovel Spa & Sport, and 400 square metres (4,300 square feet) of indoor meeting space with outdoor function areas.

    “This is an exciting new addition for the Swissotel brand and a perfect complement to our company’s growing portfolio of city and resort destinations throughout Asia and worldwide,” said Wayne Buckingham, senior vice president, Asia Pacific, FRHI Hotels & Resorts. “In keeping with Swissotel’s brand promise of promoting quality in life, the resort will offer a very inspiring atmosphere which will be bolstered with local attributes authentic to the locale. To be pairing an unbelievable resort product with the natural paradise that is Bali is nothing short of magic.”

    “We are extremely pleased to be partnering with FRHI on this new Swissotel resort project and look forward to working with them to create a truly world-class property,” said Djie Tjian An, PT. Bali Ragawisata. “Bali is a thriving holiday destination popular with travellers from all over the world who are looking for the ultimate mix of relaxation, adventure and cultural flair; Swissotel will deliver against this and more.”

    Located between Java and Lombok, Bali is an island with a population of 3.9 million. It is one of Asia’s leading vacation hotspots and the largest tourist destination in the country, recording more international arrivals than Jakarta, the capital city of Indonesia. In addition to its world-famous beaches, Bali is renowned for its highly developed arts, including traditional and modern dance, sculpture, painting, leather, metalworking, and music.

    Swissotel Hotels & Resorts, renowned for its Swiss inspired hospitality, is extending its international reach with plans to open a number of new developments in the coming years. Projects are slated for China, India, Russia and Turkey as well as other exciting destinations globally.

    About Swissotel Hotels & Resorts

    Conveniently located where travellers want to be, Swissotel Hotels & Resorts provides guests with the opportunity to stay in the heart of more than 30 top locations worldwide, where they can confidently explore the very best each destination has to offer. Synonymous with all there is to love about Switzerland, the brand remains true to its roots, successfully combining genuine Swiss hospitality with intelligent design and local flair. With social responsibility at the forefront and a genuine commitment to positively impact the destinations it calls home, every Swissotel upholds industry-leading sustainability standards and is committed to treating guests, colleagues, and the environment with equal respect. This all comes together to provide guests with peace of mind that is authentically Swiss. Part of FRHI Hotels & Resorts, a leading global hotel company that also operates the Fairmont and Raffles brands, the Swissotel portfolio offers business and leisure guests an authentic and local travel experience that is full of energy, passion and vitality. For more information or reservations, please visit swissotel.com.

  • Tesco’s South Korea empire draws interest from private equity giants

    Tesco’s South Korea empire draws interest from private equity giants

    KKR and Carlyle, the US private equity firms, have been invited to bid for the Asian business, which trades as Homeplus, while London-based CVC Capital Partners has also been asked to bid.

    The decision to sell the South Korean stores comes as the retail giant’s chief executive Dave Lewis looks to streamline the business, to concentrate on its core UK shops and raise cash.

    After two decades of uninterrupted growth, Tesco has been struggling after it became distracted by overseas expansion and failed to spot the threat of discounters like Aldi and Lidl.

    The retailer is now looking to slash capital spending, as well as fund a vicious supermarket price war and put more people on the shop floor.

    Hong Kong-based Affinity Equity Partners and Asia-focused MBK Partners were also invited to bid, and Hyundai Department Store, which is separate from the car maker, said today that it was considering bidding.

    Tesco, advised by HSBC, has asked for indicative bids later this month.

    If the sale is achieved it would be Asia’s biggest private equity deal and the region’s second biggest consumer deal ever. Sovereign wealth funds could be involved in the financing of it, given the size of the sale.

    Homeplus is Tesco’s largest business outside Britain, with more than 400 stores, 500 franchise stores and over six million customers a week.

    But the business has been under some pressure, with falling like-for-like sales for the last two years.

    Tesco is also selling its £1 billion Dunnhumby data business, and has already sold its Blinkbox digital entertainment service and Tesco Broadband to TalkTalk for an undisclosed sum.