Retail News CRM

Tag: asia

  • Carsome Unveils Southeast Asia’s Largest State-of-the-Art Car

    Carsome Unveils Southeast Asia’s Largest State-of-the-Art Car

    Southeast Asia’s largest car e-commerce platform, Carsome, officially launched Carsome Certified Lab, the largest car refurbishment facility in the region.

    Spanning over 185,000 square feet, the fully-functional Lab is a state-of-the-art facility that transforms a pre-owned car to be as good as new. It is able to refurbish up to 2,000 Carsome Certified cars per month, an unprecedented scale across Southeast Asia.

    Carsome Certified CEO Mei Han said that Carsome Certified Lab plays an integral part in supporting the company’s pursuit of delivering peace of mind to consumers. “Carsome Certified exists to give consumers the options of pre-owned cars that are more superior. All our cars go through world-class refurbishment at Carsome Certified Lab, so that our customers can choose their dream car from our largest selection of best-in-class, quality-assured cars. This is our continuous effort in eliminating consumer and industry pain points,” Mei added.

    Carsome relentlessly refurbishes each Carsome Certified car, which are carefully selected through a stringent 175-point inspection to ensure that it is free from fire, flood and major accident damages. The bulk of the investment is spent on mechanical and general repair, body and paint, as well as car detailing.

    The works in Carsome Certified Lab cover all parts of the car, including internal, external, engine, transmission, suspension, steering, electrical and electronic. Each process is performed by skilled and experienced technical specialists while adhering to global safety standards. All these efforts ensure that all Carsome Certified cars are safe, comfortable and look as good as new.

    Carsome plans to open additional Carsome Certified Labs in the next 12 months across Malaysia, Indonesia and Thailand to continue offering the widest and largest selection of pre-owned cars for consumers to choose from.

    The company currently lists more than 1,000 cars on its website, where it offers a hassle-free, digital experience to consumers who wish to buy a quality car. Consumers can expect to browse for cars online with 360o view, purchase one with minimal paperwork and have their cars home-delivered for maximum convenience.

    All Carsome Certified cars come with the Carsome Promise, which ensures that the cars have passed a stringent 175-point inspection and includes a one-year warranty, five-day money-back guarantee, and fixed price with no hidden fees.

    Lees ook:

  • Hellmann responds to the global eCommerce boom: Easy eComm

    Hellmann responds to the global eCommerce boom: Easy eComm

    Hellmann Worldwide Logistics introduces a new cost-effective and seamless solution facilitating order fulfillment for international businesses who wish to enter the US market without the need for a domestic fulfillment center or storefront presence. The new Easy eComm model, which is slated to launch this month, serves as a turn-key solution that makes it possible for businesses to fulfill their customer’s online purchases in the US, swiftly and cost-efficiently.

    Operating as a virtual order fulfillment center, this market entry solution developed by Hellmann requires no capital investment or local distribution center set-up for customers. It utilizes the new informal “Type 86” customs entry that enables importing of merchandise valued up to USD 800. In this way, the new solution allows manufacturers of fashion apparel and fast-moving consumer goods to leverage the global freight forwarder’s gateway and warehouse network to expand their reach to a customer base of over 320 million US consumers.

    The Easy eComm solution is ideal for online merchants of lower-value goods to test the US market space without the need for local presence. The model employs a three-phased approach that makes it possible for new importers to scale their business gradually, with Hellmann’s established team of experts managing the implementation of each phase of the US market entry strategy. Launching with international fulfillment from the point of origin and returns logistics in phase one, the inbound journey continues with the set-up of an international returns consolidation center in phase two. It culminates with the establishment of a full-fledged US distribution center in phase three. The Easy eComm implementation process is designed to activate US market fulfillment in just a few weeks, with the ability to reach full deployment of in-market operations within twelve months of inception.

    “Our Easy eComm Solution enables international businesses to easily reach US customers. As part of the full-service offering, we handle the entire process and provide customized solutions – from the consolidation of the goods in the country of origin to door-to-door delivery in the USA. By providing our local expertise and infrastructure, we support our customers to successfully implement and evolve their business plan in the US market,” says Patrick Oestreich, Chief Commercial Officer, Hellmann Worldwide Logistics.

    “We are here to welcome new companies to the US. Our team is looking forward to assisting them in their transition into the US market, and we will work very closely with each business to understand where Hellmann as a partner can further support their journey to reaching this US customer base,” adds Peter Huewel, Regional CEO North America, Hellmann Worldwide Logistics.

    Lees ook:

  • Italy’s OVS launches in Cambodia

    Italy’s OVS launches in Cambodia

    The Italian-Cambodian Business Association (ICBA) is pleased to officially announce the launch of a new initiative called “Italy in Cambodia”– Everything Authentically Italian in Cambodia”.

    It is a non-for-profit program aiming to promote and celebrate Italian excellence and the 100% Made by Italy in Cambodia through an online platform.

    The initiative, which has received the endorsement of the Italian Embassy in Bangkok and the European Chamber of Commerce in Cambodia (Eurocham), wants to boost on-line shopping and digital consumption.

    Says Luisa Gentile, Creator and Director of the program “As a long- term Italian ex-pat, I have always been proud of the excellence of the Italians in the world and their ability to innovate without losing sight of tradition. With Italy in Cambodia, we will put our small but vibrant community of Italian professionals and entrepreneurs in Cambodia under the spotlight, albeit a “virtual” one.

    We will provide our on-line readers special promotions and deals to introduce the Italian lifestyle, food, culture, and products, help them to virtually meet and find Italian professionals and entrepreneurs who made Cambodia their home and, above all, make them discover and experience the true spirit of Italy in Cambodia.

    Our ultimate goal is to become the most trusted source online for everything genuinely Italian in the Kingdom of Wonder, addressing both the local community, international travelers, business investors, and anyone who loves Italy or wants to be connected with Italy while in Cambodia.”

    Says about the initiative Aurelio Flacco, Chairman of ICBA and Honorary Consul of Italy in Phnom Penh “Operating digitally is the key way to stay in business, through mandated shutdowns and restricted activity. ICBA aims to support the Italian businesses already established in Cambodia –through this newly created on-line platform, Italy in Cambodia.

    Our final goal is to help, particularly the small and medium-sized Italian companies, to grow and reach new customers online and, eventually, support them and their local staff, to thrive in these difficult times.“

    The registration to Italy in Cambodia is free of charge and is open to all Italian professionals or entrepreneurs residents in Cambodia.

  • Jollibee to enter Scotland

    Jollibee to enter Scotland

    International fast-food chain Jollibee has announced that it will open its first Scottish restaurant in Edinburgh and its second store in Glasgow.

    The company will open its Edinburgh store next Thursday in Princes Street with the second store opening a month later in Glasgow.

    The restaurant will serve halal meat to cater to all communities in both cities. In the last 18 months, overall UK sales rose by 417%.

    Jollibee was originally founded in 1978 and has more than 1,500 stores across 17 countries, including the USA, Canada, Spain, Italy, Philippines, Singapore, Vietnam, UAE, and the UK in England and Wales.

    The first Jollibee in the UK opened in London in 2018 and has since added another eight locations to the map including Cardiff, Newcastle, Liverpool, Leeds, and Leicester Square in London’s West End.

    Ernesto Tanmantiong, chief executive at Jollibee Group, said: “This is an important moment for us as we introduce Jollibee to Scotland with not one, but two restaurants launching within a month, showing our commitment to expand in Europe.

    “We are looking forward to serving our Scottish customer’s delicious food in a joyful restaurant experience. We know there are many in Scotland who have waited a long time for Jollibee to arrive and we’re excited to see the local communities experience Jollibee for the first time.”

    Lees ook:

    Lees ook:

  • Filipino retailer plans IPO debut next month to expand footprint

    Filipino retailer plans IPO debut next month to expand footprint

    Balai Ni Fruitas, which operates a chain of bakeries and juice shops, is planning a P309.38-million initial public offering (IPO) next month to fund its expansion plans and for potential acquisitions.

    According to the Securities and Exchange Commission (SEC), the subsidiary of Fruitas Holdings, Inc. filed its registration statement on Feb. 17.

    Balai will be offering as much as 325 million primary common shares. Meanwhile, its parent firm, Fruitas Holdings, will be selling 50 million secondary common shares, along with an overallotment option of up to 37.5 million common shares.

    IPO shares will be priced up to 75 centavos apiece. According to its prospectus dated Dec. 27, 2021, the final price will be set on March 7.

    “The Company will not receive any proceeds from the offer of the secondary shares and option shares,” Balai said.

    Balai may raise up to P243.8 million in gross proceeds from the sale of 325 million primary common shares. The company may net up to P220.4 million from its IPO.

    “The Company intends to use the net proceeds from the Offer for the store network expansion, commissary set-up and potential acquisition opportunities of the Company,” Balai said.

    Majority or 81.8% of its proceeds worth P180.4 million will be used for its store network expansion. The company aims to open 120 new owned stores in Metro Manila and “selected urban areas” across the country until the end of next year.

    The company owns bakery chain Balai Pandesal, Buko ni Fruitas, and Fruitas House of Desserts. Buko ni Fruitas offers fresh coconut drinks, while Fruitas House of Dessert serves fruit shakes and desserts.

    “Vast majority of the stores to be opened from 2022-2023 are anticipated to carry the Balai Pandesal brand. Moreover, the Company also expects to expand the footprint of its other existing brands and future acquisitions which will depend on, among others, market opportunities and commercial considerations,” Balai said.

    Balai plans to allocate P20 million for its plans to set up commissaries in 2022, while another P20 million will be used to acquire other baked goods brands.

    “The Company’s potential target acquisitions will be geared towards broadening its baked goods product offering and/or adding sales channels. The Company is still in the early stages of evaluating these options and there are no definitive agreements signed,” Balai said.

    In a statement in December, Fruitas Holdings President and Chief Executive Officer Lester C. Yu said it decided to take Balai public due to the “significant growth prospects of the bakery sector.”

    Balai plans to conduct its offer period from March 16 to 22, while its tentative listing date at the small, medium, and emerging board of the Philippine Stock Exchange is set on March 30. The company has yet to decide on its stock symbol.

    The company tapped First Metro Investment Corp. as the transaction’s issue manager, bookrunner, and underwriter.

    Lees ook:

    Lees ook:

  • AirAsia prepares regional routes to spur intra-Asean travel

    AirAsia prepares regional routes to spur intra-Asean travel

    AirAsia aims to spur intra-Asean travel with new regional routes, while Thai AirAsia hopes the Red War football match in July will drive demand from neighbors to Thailand.

    The company is working on new destinations in Thailand, Indonesia, and Malaysia to replace the Chinese market, said Tony Fernandes, chief executive of Capital A, formerly AirAsia Group, which also owns Thai AirAsia via the AirAsia Aviation Group.

    He said he already discussed with Thailand’s ministers regarding new international routes besides well-known destinations, such as Jakarta to Hua-Hin.

    However, the implementation in Thailand will largely depend on Covid-19 tests and other travel regulations which remain the most critical obstacle for the industry.

    Tassapon Bijleveld, executive chairman of Asia Aviation, the majority shareholder of Thai AirAsia (TAA), said the airline is preparing bundle packages for Manchester United and Liverpool football tournaments which combine match tickets and airline tickets.

    The game will attract a number of sports fans, particularly from neighboring countries as the viral situation should have subsided by July.

    He said every country in Southeast Asia has to cooperate to ensure seamless tourism which can help offset the lack of travelers from China, Japan, and South Korea who might resume international travel in the second half.

    TAA plans to operate international flights to Singapore, Malaysia, and Vietnam next month with a target of 70-80% load factor in order to avoid losses.

    He said travel regulations are the main concern for the airline as travel demand could not strongly rebound despite the reopening, so mandatory RT-PCR tests must be removed by the first half.

    “We have to get back to the real world. The government must be brave because the current viral situation is not that severe compared to the previous waves as more Thais are already inoculated,” Mr Tassapon said.

    Capital A also focuses on the growth of airasia Super App, its travel and lifestyle platform, which officially launched in Thailand on Monday.

    Varut Vutipongsatorn, country head of airasia Super App (Thailand), said it has built the foundation for the platform over the past year. This year it will expand business throughout the country, starting with the Northeast.

    The goals in Thailand are to add 1-2 new services each year, increasing air travel bookings as well as bundle packages between air tickets and hotels by 20 times and 40 times, respectively, within 2026.

    This year, food delivery will expand its service nationwide, while door-to-door delivery within each province under airasia Xpress and a ride-hailing taxi service will start from March.

  • Nvidia’s CEO Believes Autonomous Vehicles Will Be All Over The World

    Nvidia’s CEO Believes Autonomous Vehicles Will Be All Over The World

    Nvidia’s founder and CEO Jensen Huang have revealed in a wide-ranging interview that autonomous vehicles will be prevalent all over the world. He believes 2022 is the inflection point for the development of autonomous vehicles and their adoption and by 2025, Nvidia will also be deploying its software at scale. By 2025, Nvidia will start monetizing its software by gathering licensing with revenue-sharing agreements with car companies.

    “I am certain that we will have autonomous vehicles all over the world. They all have their operating domains. And some of that is just within the boundaries of a very large warehouse. They call them AMRs, autonomous moving robots. You could have them inside walled factories, and so they could be moving goods and inventory around,” Huang told the Venturebeat.

    The Nvidia CEO’s comments come on the sidelines of its failed attempt to acquire ARM from SoftBank after the proposed deal faced universal negative pushback from regulatory authorities across the world. ARM, which designs chipsets and licenses its designs to countless companies across the world, is perhaps the last fabless and neutral chip design firm in the world. Its importance is so crucial because its designs are used nearly in everything from connected cars, autonomous cars, smartphones, tablets, PCs, IoT products to wearables.

    Huang believed that the failed ARM bid hadn’t impacted Nvidia one bit and from a long-term perspective he believed its autonomous division would be one of its biggest businesses. He added that Nvidia would continue to use ARM’s designs thanks to its 20-year license and it would utilize it across its product portfolio with new CPU designs already in development.

    “This will be a big year for us. And then next year, it’ll be even bigger next year. And in 2025, that’s when we deploy our own software where we do revenue sharing with the car companies. And so if the license was $10,000, we shared 50-50. If it’s a subscription base of $1,000 or $100 a month, we share 50-50. I think I’m pretty certain now that autonomous vehicles will be one of our largest businesses,” he added.

    Recently, Nvidia announced a wide-ranging deal with Jaguar Land Rover where it will be helping the iconic British automakers to develop autonomous cars and unique in-car experiences. The deal also entails Jaguar Land Rover leveraging Nvidia’s server-grade DGX GPUs.

  • Rice profits up around 15 pct

    Rice profits up around 15 pct

    Major rice producers and exporters saw their after-tax profits last year increase around 15 percent against the previous year thanks to stronger domestic and overseas sales with higher export prices.

    Loc Troi Group JSC reaped the biggest-ever revenues of over VND10.2 trillion ($443.4 million) and after-tax profits of more than VND420 billion, up 36 percent and 14 percent, respectively.

    Vietnam National Seed Group JSC (Vinaseed) made revenues of over VND1.93 trillion and after-tax profits of more than VND225 billion, posting respective year-on-year rises of 18 percent and 16 percent.

    Both net revenues and after-tax profits of Trung An Hi-tech Farming JSC increased 15 percent to VND3.12 trillion and over VND100 billion.

    Vietnam exported over 6.2 million tons of rice totaling nearly $3.3 billion last year, according to the General Department of Vietnam Customs.

    The average export price of Vietnamese rice rose 5.5 percent against 2020 to $526.8 per ton in 2021, according to the Ministry of Agriculture and Rural Development.

    Loc Troi exported over 80,000 tons of rice worth over VND1 trillion, quadrupling in both volume and value against 2020. Vinaseed exported 60 tons of premium fragrant rice to the U.K. for the first time.

    Domestic sales also increased last year, partly due to social distancing measures imposed to curb Covid-19. Hoa Sen Rice told VnExpress its sales surged 45 percent in 2021.

    The Vietnam Food Association predicted Vietnam, which exported 505,700 tons of rice worth $246 million in January, would export over 6 million tons of rice this year. However, a sharp increase in prices of agricultural materials, especially fertilizers, will increase input costs and lowers farmer incomes.

  • WhatsApp for iOS has a redesigned voice call UI in the works

    WhatsApp for iOS has a redesigned voice call UI in the works

    WhatsApp has been working quite hard on improving the user experience in the app amidst all its rising rivals such as Signal and Telegram. Now, the app is working on a redesigned user interface for voice calls for iPhones, a feature that’s currently rolling out to WhatsApp beta testers on iOS.

    For a while now, WhatsApp has been working to improve the voice call experience, and now, the beta version 22.5.0.70 is showing a revamped user interface that should be coming to the app.

    Keep in mind that, as this is beta, the feature may change as it undergoes development before its official global release. With that being said, let’s explore what WhatsApp is working on to make your voice call experience on its app a better one.

    Here’s an image from version 22.5.0.70 (beta of WhatsApp for iOS), which shows the improved interface for group calls. It seems that real-time voice waveforms are going to come to calls. The app has recently rolled out similar waveforms for audio messages.

    This change will help you see who is currently talking, and also could be useful to determine who needs to mute their microphone (yeah, we all know those group call situations when someone has left their mic on and therefore distracts you from whatever the speaker is saying).

    On top of that, WhatsApp will be getting wallpapers for voice calls; however, they are not currently editable with this beta.

    Earlier, WhatsApp started working on a redesigned voice call interface that should look more modern and neatly organized. It is still under development, and at least at first glimpse, looks quite familiar to the current one. The point of this redesign is to make the UI more user-friendly and modern. On the other hand, there will be some more UI tweaks that are not visible in the screenshot below that could make their way to the official release.

    WhatsApp has been working hard to make its chat app as good as it could be, and as feature-rich as it could get for the best user experience. The app will soon be getting indicators for end-to-end encryption (as you may probably know, WhatsApp messages are end-to-end encrypted for a few years).

    With an update coming sometime in the future, the app will be getting new visuals to assure you that everything you say stays between you and the people you’re chatting with.

    Additionally, recently we reported on the fact that WhatsApp could finally be getting a dedicated iPad app. WhatsApp CEO Will Cathcart recently hinted at a possible WhatsApp for iPad release and the company seems to be working on it.

    The thing is that the data encrypted on WhatsApp wasn’t allowing for the company to safely sync it across multiple devices so far. However, as data encryption technology evolves, WhatsApp is working to make an iPad app a reality.

    “Our web and our desktop apps now have that. If I have multi-device on, I can turn my phone off or lose my network connection and still get messages on my desktop. That would be really important for a tablet app, to be able to use the app even if your phone isn’t on. So the underlying technology is there.”, stated Cathcart, giving some hope to users who have been wanting an iPad WhatsApp app.

    The beta version of multi-device support that was created last year allows users to link up to four devices at a time to their account. However, the downside of this feature was that it needed your phone to be connected to the internet the whole time for it to work. Last fall, WhatsApp introduced a new multi-device beta for iOS that can work without your iPhone connected to the internet.

  • AliExpress Unveils New Winter Sports Gear Trends

    AliExpress Unveils New Winter Sports Gear Trends

    The global winter sports gear market continues to boom in 2022 thanks to the thrilling Beijing 2022 Winter Olympics and the rising popularity of winter sports around the world. Sales data from AliExpress, a global retail online marketplace under the Alibaba Group, shows a growing demand for winter sports products particularly for the winter sports equipment and gear categories.

    Strong Demand for Fashionable and Tech Infused Winter Sports Products

    According to sales data, 2022 is set to be a milestone for the winter sports gear market. AliExpress recorded a 60% increase in sales of winter sports gear in Q4 2021 year-over-year, with a growing number of customers looking for trendier and more fashionable ski outfits, goggles and helmets.

    Ski products with tech features such as heated ski gloves have been catching AliExpress customer interest since they create a more enjoyable experience for winter sports lovers. The sales of heated ski gloves on AliExpress in Q4 2021 increased by 780 times year-over-year.

    Best-selling winter sports gear on AliExpress include ski helmets, snowboard sets, ski pants, ski gloves and ski goggles. In particular, the sales of ski helmets on AliExpress in Q4 2021 saw a 1500% increase year-over-year.

    Russia, US, South Korea, France, and Spain Markets Lead Winter Sports Gear Sales 

    The top five markets purchasing winter sports gear on AliExpress include Russia, US, South Korea, France and Spain. In addition, with AliExpress operating in over 200 countries and regions around the globe, customers in Iceland, Chile and other remote areas are able to get their winter sports gear on AliExpress thanks to its well-established logistics ecosystem.

    Cost-performance of ski equipment has particularly been advantageous for French and Spanish customers. In particular, the sales volume of ski goggles and ski gloves in Spain increased 100% and 53% year-over-year respectively. In France, customers are opting for a two-layer ski jacket, resulting in a 72% growth year-over-year for this item.

    In Asia, an increasing number of South Korea customers are purchasing ski gloves and two-layer ski jackets on AliExpress for their ski adventures.

    Elevated E-commerce Experience with Upgraded Logistics Infrastructure

    AliExpress is committed to providing a faster and more efficient cross-border delivery experience with its robust cross-border e-commerce ecosystem consisting of seven domestic selection warehouses in China, nine automated sorting centers in China, overseas warehouses and a weekly average of over 80 chartered flights.

    In partnership with Cainiao, AliExpress currently offers delivery in 10 working days for selected cross-border orders made in Spain and France, 12 working days for Brazil and five working days for South Korea.

    Since 2020, AliExpress and Cainiao have also actively developed overseas warehouses to enhance the capacity and efficiency of cross-border logistics networks. Local shipping in Spain and France can be delivered in three days and seven days for the rest of Europe.

    A network of over 20,000 self-pickup service points has been launched in Spain, France, Poland and Russia, combining AliExpress-branded lockers powered and operated by Cainiao, as well as collection points powered by local partners.

    Lees ook:

  • Halo Food Co acquires The Healthy Mummy for $17 million

    Halo Food Co acquires The Healthy Mummy for $17 million

    Global online health and fitness platform, The Healthy Mummy has been acquired for $17 million by Halo Food Co.

    The brand offers mums a range of health and wellness programs that include exercises, supplements information, recipes, and merchandise. It was founded by Rhian Allen in 2010 and operates in the UK, the US and Australia.

    The business boasts more than 86,000 digital subscribers hence the acquisition will add sizeable cross-brand sales to Halo Food Co’s profit mix.

    Halo Food Co is a product development company in Australia and New Zealand. The ASX-listed company’s manufacturing capabilities will aid The Healthy Mummy product profile to expand and develop in order to scale the business further.

    “To say we are a customer-centric business is an understatement and I have and will always strive to make every customer and mum happy with what we offer and do as a business,” said Rhian Allen, founder of The Healthy Mummy.

    “Partnering with Halo Food Co was something I feel very happy about as I firmly believe that the Halo team will help to further my own vision and belief of ‘customer first’ and will allow us to serve you better with incredible product innovation and an even wider range of products,” she added.

    “The business is a natural fit to the existing Halo business, increasing the lifetime value of customers to the group and adding high margin digital distribution channels and cross-sell capability that would otherwise take years to establish organically,” Halo CEO, Danny Rotman said.

    Since last year, the e-commerce company has started selling its products at physical retail stores including Priceline Pharmacies.

  • Spicy sauce marketed as Australia’s first locally made sriracha

    Spicy sauce marketed as Australia’s first locally made sriracha

    Sir Racha hot sauce has added a new twist to its range, introducing a mildly punchy sauce that the company says is the first of its kind to be made in Australia.

    The original hot sauce is made from sun-ripened Australian jalapenos fermented with onion and garlic to distinguish natural sugars. It is then blended with vinegar to give it a “sour-y tang”. The sauce offers 2.6 calories, zero grams of fat and only 23mg of sodium per serve.

    Eric Robinson, hot sauce development officer at Sir Racha, said that there is nothing better than a sauce you can use liberally on everything. “It’s sweet, salty, sour and has that little bit of punch. With no added sugar, it really is a pantry staple.”

    Sir Racha is a healthy, all-natural product that supports Australian farmers & families.

    Lees ook:

  • A2 Milk profit halves on China slowdown but sees sales pick-up

    A2 Milk profit halves on China slowdown but sees sales pick-up

    New Zealand’s A2 Milk said on Monday its first-half profit halved as sales of its infant milk formula product continued to fall in China, but forecast second-half revenue to be significantly higher than a year ago.

    The firm reported a first-half net profit after tax of NZ$56.1 million ($37.54 million), down from NZ$120 million a year ago.

    The hit to its Chinese market stems from coronavirus-induced supply disruptions to its “daigou” channel, a reseller network where people outside China buy A2’s products and ship them to Chinese consumers informally.

    That, along with contracting market share in China owing to declining birth rates, has caused A2 Milk shares to plunge more than 60 percent from pre-Covid-19 levels, reportedly making it a target for Canadian dairy firm Saputo Inc.

    A2 said it expects sales of its Chinese label and English label infant milk formula products to pick up in the second half of the year, with inventory levels expected to improve, driving revenue growth.

    However, it said it does not expect this sales growth to translate into higher profit, as it plans to spend more on its expansion strategy and it is also battling rising costs.

    Lees ook:

    Lees ook:

  • Thailand Approves Incentives To Promote EV Shift

    Thailand Approves Incentives To Promote EV Shift

    Thailand’s cabinet on Tuesday approved a package of incentives including tax cuts and subsidies to promote a shift to electric vehicles (EVs) in Southeast Asia’s major auto production base, a government spokesperson said.

    The package for 2022-2025 is in line with a zero-emission vehicle policy plus a goal to ensure 30 per cent of Thailand’s total auto production are EVs by 2030, Thanakorn Wangboonkongchana told a news conference.

    In the first two years, the measures will focus on encouraging widespread domestic use of EVs by providing tax breaks and subsidies for imported models and those made locally, he said.

    In the last years of the package, the support will mainly be on promoting domestically produced EVs, while canceling some benefits for imported models, Thanakorn said.

    “This is to encourage operators to accelerate the production of electric vehicles in the country to meet increasing demand,” he said.

    Thailand last year produced 1.7 million regular vehicles, for firms that include Toyota, Honda, and Mitsubishi.

    Thanakorn did not give further details on the incentives, which he said would need to be worked out with the energy ministry.

    According to earlier media reports, the package will help reduce the price of each EV by between 70,000 baht ($2,165) and 150,000 baht ($4,638).

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • TSMC To Expand New Japan Chip Factory, Denso Takes Stake

    TSMC To Expand New Japan Chip Factory, Denso Takes Stake

    Taiwan Semiconductor Manufacturing Co (TSMC) said on Tuesday that the chip plant it is building in Japan with Sony Group will expand, with an extra $1.6 billion in spending, while auto supplier Denso Corp will take a 10% stake. TSMC, which is the world’s largest contract chipmaker, announced the $7 billion factories in southern Japan in November and construction is scheduled to start this year, with production beginning by the end of 2024. That announcement was welcomed by the Japanese government which wants TSMC to build plants to supply essential chips to Japan’s electronic device makers and auto companies as trade friction between the United States and China threatens to disrupt supply chains and demand for the component grows.

    TSMC said in a statement on Tuesday that to meet market demand, it had decided to enhance the plant’s capabilities and increase monthly production capacity to 55,000 12-inch wafers, putting the new total cost at around $8.6 billion. It was originally due to have a monthly production capacity of 45,000 12-inch wafers. The company, which is also a major Apple supplier and produces some of the world’s most advanced semiconductors, said that Denso would invest $350 million for a more than 10% equity stake in the Japanese plant.

    Automakers have been particularly badly hit by the global chip shortage, which have seen some production lines halted. “Through this partnership, we contribute to the stable supply of semiconductors over the medium to long term and thus to the automotive industry,” Denso’s CEO Koji Arima was quoted as saying in the TSMC statement.

    Taiwan, home to chip makers such as TSMC, has become front and center of efforts to resolve the chip shortage. TSMC last year pledged to spend $100 billion over the next three years to expand chip capacity and is building a $12 billion chip fabrication plant in the U.S. state of Arizona.

    Lees ook: