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Tag: China

  • Thai Billionaire’s Frasers Property Sees Profit Surge and Eyes Expansion into China

    Thai Billionaire’s Frasers Property Sees Profit Surge and Eyes Expansion into China

    Charoen Sirivadhanabhakdi, the chairman of TCC Group and Thailand’s second-richest individual, is making waves in the real estate market. Frasers Property Ltd., the company under his stewardship, has reported a staggering surge in profit in Singapore while also setting its sights on expansion in China.

    The Singapore-based developer announced a remarkable net income of SGD135.6 million (approximately US$104 million) for the six months ending March 31, marking a 3.7-fold increase compared to the same period last year. Revenue saw a milder rise of 2.7%, reaching SGD1.59 billion, as disclosed during a briefing on Friday.

    Singularly, Singapore’s recovering housing market has significantly boosted Frasers’ fortunes. Profit from residential developments increased by 12% over the six-month span. Conversely, the company faced a more than 40% decline in profits from its China operations. Nevertheless, Frasers is cautiously re-entering the Chinese market after acquiring a residential plot in Shanghai in collaboration with local partners back in February.

    CEO Panote Sirivadhanabhakdi, who has been leading the company since 2016, expressed optimism about the Shanghai venture but underlined a cautious approach regarding the broader Chinese market. “Land auctions in Shanghai’s center have heated up, and we’re actively seeking opportunities in key cities,” noted Lim Hua Tiong, the company’s chief executive for emerging markets in Asia, during Friday’s earnings briefing. He added, “I understand there are many questions about China, but I always assert that Shanghai is uniquely different from the rest of China.”

    Frasers’ ownership landscape remains heavily influenced by Charoen’s Thailand-based TCC Group, which holds nearly 90% of the company’s shares. On Friday, the stock experienced a dip of as much as 1.2% but later clawed back some losses. This year, the stock has seen a decline of approximately 13%, in stark contrast to a modest gain of about 1% in Singapore’s real estate index.

    As of Friday, Charoen’s net worth sits at $11.7 billion, positioning him third in Thailand behind Dhanin Chearavanont, senior chairman of Charoen Pokphand Group, and Sarath Ratanavadi, CEO of Gulf Energy Development, according to Forbes. In the high-stakes world of real estate, it seems Charoen is firmly in the game, not just playing but reshaping the landscape.

    Questions & Answers

    What is Frasers Property’s net income for the first half of the year?
    The company reported a net income of SGD135.6 million (US$104 million) for the six months ending March 31.

    How has the Singapore housing market affected Frasers Property?
    The recovering Singapore housing market has been a crucial driver for the company, with profit from residential developments increasing by 12%.

    What are Frasers Property’s plans regarding the Chinese market?
    Frasers is cautiously looking to expand its presence in China, having made a joint acquisition of a residential plot in Shanghai while closely monitoring opportunities in key cities.

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  • Chinese Holiday Spending Hits $79 Per Person, Boosting Retail Sales

    Chinese Holiday Spending Hits $79 Per Person, Boosting Retail Sales

    May Day Holiday Signals Mixed Results for Chinese Consumer Trends

    Chinese Consumer Confidence Tested Amid Growing Travel and Spending
    The recent May Day holiday has emerged as a significant indicator of consumer sentiment in China, showcasing a blend of heightened travel activity and modest spending. The five-day celebration, traditionally a peak time for family trips, witnessed a notable uptick in travel, while per capita expenditures lagged behind pre-pandemic levels.

    Surge in Travel Activity

    During the May Day holiday, approximately 10.9 million travelers moved in and out of the country, marking an impressive 28.7% increase compared to 2024. Among them, 1.1 million were international visitors, reflecting a robust 43.1% rise, according to the official Xinhua news agency. This resurgence in travel underscores a rebound in consumer patterns following previous years of restrictions.

    Modest Spending Growth

    Despite the surge in visitors, average spending per person over the holiday reached 574.1 yuan (approximately $79), a modest increase of 1.5%. This figure still trails behind 2019 levels, which recorded per capita spending at 603.4 yuan. This discrepancy highlights ongoing challenges facing consumer confidence in China amidst economic fluctuations and external pressures.

    Domestic Travel Trends Expand

    Data from China’s tourism ministry revealed 314 million domestic trips during the May holiday, signifying a 6.5% increase from the previous year. Notably, transactions through Weixin Pay, a prevalent payment platform, surged by over 10% year-on-year, especially in restaurant sectors, indicating strong consumer engagement in specific areas.

    Cinema Revenues Decline

    While travel and dining have seen positive trends, the cinema industry faced setbacks, with total box office receipts plummeting to 747 million yuan over the holiday – about half of what was generated in 2024. This decline raises questions about consumer interest in entertainment options during holiday periods.

    Easing Growth in Services Sector

    Recent surveys highlight a slowdown in the services sector’s new order growth, reflecting heightened uncertainty due to U.S. tariffs. The Caixin/S&P Global services purchasing managers’ index (PMI) dipped to 50.7 in April, down from 51.9 in March, indicating the lowest growth rate since September.

    Despite initial optimism fueled by government stimulus, China’s broader economic landscape remains fragile, grappling with deflationary risks. The services PMI, deemed a reliable indicator of the economic pulse among smaller firms, suggests a sharp decrease in new business growth, although modest recovery in export orders has been noted thanks to tourism.

    Implications for Future Consumer Behavior

    With around 48% of the workforce employed in the services sector, the potential impacts of U.S.-China trade tensions resonate deeply within an economy predominantly driven by domestic consumption. As challenges mount, experts suggest that restoring consumer confidence and enhancing spending strategies will be crucial in navigating the post-holiday period.

    Short-term measures such as consumption vouchers could invigorate domestic demand, while longer-term strategies focused on improving service quality and availability will be vital. Economic analysts stress the need to foster a positive consumer sentiment to unlock savings and stimulate growth in the retail sector.

    Potential Impact on the Retail Sector
    The mixed signals from the May Day holiday highlight crucial dynamics in China’s retail landscape. While travel and dining sectors display signs of resurgence, overall consumer spending trends indicate a cautious recovery. The retail sector’s adaptability will be tested as it navigates these evolving consumer behaviors in a challenging economic environment.

    Questions & Answers

    1. What was the increase in travel during the May Day holiday in China? Approximately 10.9 million travelers entered and exited the country, representing a 28.7% increase compared to last year.

    2. How much did per capita spending change during the holiday? Average spending per person rose by 1.5% to 574.1 yuan, but it remains below pre-pandemic levels from 2019.

    3. What sectors showed contrasting performance during this holiday? While sectors such as dining benefitted from increased spending, the cinema industry suffered a downturn, with ticket sales falling to about half of last year’s take.

  • China Boosts Retail with Durian and Crocodile Imports from Cambodia

    China Boosts Retail with Durian and Crocodile Imports from Cambodia

    In a significant leap towards increasing its agricultural exports, Cambodia recently signed agreements to facilitate the export of swiftlet nests and crocodiles to China. This bold move is poised to open new avenues for Cambodian processors, exporters, and investors, as consumer demand in China surges for these unique products.

    A Historic Protocol for Swiftlet Nests

    Suy Kokthean, the president of the Khmer Swiftlet Association, has described the recent protocol for exporting swiftlet nests to China as a groundbreaking achievement. He emphasized that this development not only attracts more investment into Cambodia’s processing sector but also aligns with conservation efforts aimed at upgrading swiftlet houses to meet export standards.

    “This protocol is a major step forward for Cambodia’s swiftlet sub-sector,” Kokthean commented, noting that the Chinese market is abundant with opportunities. With swiftlet nest products gaining popularity in China, there is an optimistic outlook for processors and exporters eyeing entry into this lucrative market.

    Expanding Horizons Beyond China

    While the immediate focus is on exporting to China, Kokthean revealed that Cambodia is exploring other markets, including Taiwan, Hong Kong, and Singapore. “However, the demand from China far outstrips these smaller markets,” he added, highlighting the pressing need for an increase in Cambodian swiftlet nest supply to meet international demand.

    Currently, estimates suggest that over 5,000 swiftlet houses in Cambodia produce around 100 tonnes of nests annually, paving the way for significant export growth in the coming years.

    Crocodile Export Opportunities on the Horizon

    Kong Mey, vice president of the Crocodile Breeders’ Community in Siem Reap province, also lauded the new protocol allowing the export of Cambodian-cultivated crocodiles to China. This development is seen as a golden opportunity for crocodile breeders nationwide, with potential for strong market growth according to Mey.

    The Ministry of Agriculture, Forestry and Fisheries is diligently working on disease analysis for crocodile samples, ensuring that exports can proceed smoothly following confirmation of compliance with Chinese customs regulations.

    Government Support for Agriculture

    The Cambodian government is fully invested in enhancing export pathways for its agricultural products. Prime Minister Hun Manet recently directed relevant ministries to streamline procedures and minimize delays, reaffirming the government’s commitment to boosting the agricultural export sector.

    During a previous visit by Chinese President Xi Jinping, discussions centered on optimizing export channels for Cambodian agricultural products, highlighting a strategic partnership aimed at benefiting both nations.

    Economic Impact and Future Prospects

    Cambodia’s agricultural sector has made impressive strides, with over 12 million tonnes of crop products exported to 95 countries in 2024, generating approximately $5.3 billion in revenue. With agriculture contributing about 16.7% to the country’s GDP, the recent agreements underscore a pivotal moment for the retail and agricultural landscape in Cambodia.

    As Cambodia opens its doors to new markets and expands its product offerings, consumers in China and beyond may soon benefit from an enhanced supply of high-quality swiftlet nests and crocodiles.

    Questions & Answers:

    1. What recent agreements has Cambodia signed regarding exports?
      Cambodia has signed protocols for exporting swiftlet nests and crocodiles to China, marking significant growth opportunities for its agricultural sector.
    2. Who has praised the swiftlet nests export agreement, and what are the expected benefits?
      Suy Kokthean, president of the Khmer Swiftlet Association, praised the agreement as a major step forward that will attract investment and create opportunities for processors and exporters.
    3. What actions is the Cambodian government taking to support agricultural exports?
      Prime Minister Hun Manet has directed ministries to simplify export procedures, aiming to boost agricultural product exports and strengthen market connections with China.
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  • China Seeks US Trade Dialogue, Insists on Lifting Tariffs as Preliminary Step

    China Seeks US Trade Dialogue, Insists on Lifting Tariffs as Preliminary Step

    Escalating Trade Tensions: U.S. and China Exchange Heavy Tariffs Amidst Negotiation Hopes

    In a dramatic escalation of the ongoing trade war, the U.S. has imposed significant tariffs of up to 145% on a variety of Chinese products starting in April. In retaliation, China has introduced a new set of tariffs, matching the U.S. with a 125% duty on American imports. This development comes amidst tentative talks and fluctuating market reactions.

    Temporary Reprieve for High-Tech Goods

    Notably, certain high-end tech products such as smartphones, semiconductors, and computers have been temporarily exempted from the U.S. tariffs. This sector will be closely watched by analysts as an indicator of potential longer-term policy shifts in these pivotal industries.

    Dialogue and Diplomacy: A Path Forward?

    Amidst these aggressive fiscal maneuvers, U.S. President Donald Trump has suggested that China is keen to negotiate, citing a “very good chance we’re going to make a deal.” Conversely, official statements from Beijing assert that it was the U.S. that initiated contact, with China now evaluating the outreach.

    However, any progression towards substantive talks appears contingent on concessions, particularly regarding unilateral tariffs. The Chinese Commerce Ministry emphasized that without the U.S. showing sincerity by reversing its tariffs, dialogue would be insincere and erode trust further.

    Hard Stances on Both Sides

    Expert opinions suggest a tough stance from China, with signals that negotiations will commence only after the U.S. exhibits concrete actions towards compromise. Wu Xinbo of Fudan University highlighted that revocation of tariffs might pave the way for addressing deeper issues such as the unbalanced trade relationship and technological suppressions alleged by Beijing.

    The Global Impact and Deadline Pressures

    As the 90-day deadline in July looms for several countries to negotiate terms with Washington, the broader international community remains on edge. Beijing’s firm resolve was echoed in a recent social media campaign, emphasizing their readiness to combat a prolonged trade war if necessary.

    Economic Strains and the ‘Olive Branch’

    Recent economic data from China and the U.S. expose vulnerabilities exacerbated by these trade tensions. China’s factory activity has contracted, and similarly, the U.S. economy faced contraction in early 2023. Amid these challenges, calls for a resolution have intensified, with some analysts like Stephen Innes from SPI Asset Management recognizing Beijing’s recent statements as a potential initial step towards de-escalation.

    Looking Ahead: Implications for the Retail Sector

    These unfolding events hold profound implications for the retail sector. Consumer trends could shift significantly as product prices and availability are impacted by the tariffs. Retail news will continue to monitor how retail chains and consumers adapt to these new economic realities. As the situation develops, the resilience of the global trade framework and international economic relations will be tested. This period may well define the future dynamics of international trade and consumer behavior in a deeply interconnected world economy.

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  • Apple CEO Tim Cook reveals what Apple needs to build iPhone in the US

    Apple CEO Tim Cook reveals what Apple needs to build iPhone in the US

    While the tariff fiasco has brought red ink to the markets and chaos to the global economy, the ultimate goal according to President Donald Trump and his supporters, is to have manufacturing brought back to the United States. According to Trump’s Commerce Secretary Howard Lutnick, who was appearing on CNBC, Apple CEO Tim Cook told him that there is a “key catalyst” that would be necessary for Apple to consider building the iPhone in the US.

    Lutnick says that he asked Cook when he was going to bring iPhone manufacturing to the States. Cook responded by saying, “I need to have the robotic arms to do it at a scale and precision that would allow me to bring it here.” Cook seems to be one of the few tech industry leaders who might not be a Trump supporter but who still commands respect from the president and vice versa.

    This relationship has helped Apple protect its most important product, the iPhone, from tariffs during both Trump terms. Recently, Trump temporarily exempted some consumer electronics including smartphones from the reciprocal tariffs that Trump imposed on US trading partners. This includes a whopping 145% tariff on products imported to the US from China which is where the majority of iPhone units are assembled.

    By using robots to do the tedious low-paying assembly jobs such as building an iPhone, Apple wouldn’t have to worry about finding Americans willing to work for the $3 to $3.70 per hour that iPhone assemblers reportedly make in Shenzhen, China. Without a robotic labor force, at the federal minimum wage of $7.25 per hour, Apple would be paying twice that amount to build the iPhone forcing it to raise the price of the device.

    By using robots to build the iPhone in the US, Apple would be able to reduce the cost to assemble the product and might even be able to cut prices for the iPhone. But Apple is still a long way from having a team of robots unplug themselves in the morning and head over to the assembly line where they silently build iPhone units. Yet, if you ask the Commerce Secretary, he’ll try to get you to believe that this technology is coming sooner than you’d think.

    Talking about the iPhone, Lutnick says about Tim Cook, “He wants to build it here, he’s going to build it here. The Commerce Secretary does agree with our position that Americans won’t work for the low wages Foxconn pays iPhone assemblers in China. He says that Americans will be running the iPhone factories in the States. “They’re not going to be the ones screwing components in.” Unfortunately, Lutnick doesn’t explain who will be.

    Cook is right and robotics can be the answer, but this is going to take time even with AI. Let me make a statement that many of you will find surprising. If the Trump administration is patient and allows time for the technology to catch up with the goal, the current administration might end up being known for helping change the world of manufacturing for the better. However, patience is not the strong suit of our president and his team.

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  • Did Walmart Asia Just Take This Massive Step?

    Did Walmart Asia Just Take This Massive Step?

    Walmart’s presence in Asia is a key part of its global growth strategy. The retail giant has established a significant presence across the region, with hundreds of stores spanning from China to India and Southeast Asia.

    The potential of the Asian market is enormous:

    • A rapidly growing middle class
    • Increasing consumer spending power
    • Digital-savvy populations embracing modern retail

    2024 is an important year for Walmart Asia as the company focuses on expanding in the region. With plans for opening more physical stores, investing in digital technology, and forming strategic partnerships, Walmart aims to capture a larger share of Asia’s trillion-dollar retail market.

    In this article, we will explore Walmart’s ambitious plans across Asia. We will take a closer look at its operations in key markets such as China, India, and Southeast Asia, and discuss the opportunities that await in this ever-changing region.

    Walmart’s Operations in Different Asian Countries

    Walmart’s presence in Asia reflects its commitment to diversifying markets and expanding regionally. Let’s explore their operations in key Asian countries:

    China: A Retail Powerhouse

    Walmart China stands as a testament to successful market adaptation. With over 360 stores spread across 100+ cities, the company has:

    • Implemented smart retail technology in stores
    • Partnered with JD.com for enhanced e-commerce capabilities
    • Developed Sam’s Club locations catering to premium shoppers
    • Created localized product offerings matching Chinese consumer preferences

    India: Navigating Complex Markets

    The Indian market presents unique challenges and opportunities for Walmart:

    • Flipkart acquisition – $16 billion investment strengthening digital presence
    • Best Price wholesale stores serving small businesses
    • PhonePe digital payments platform expansion
    • Regulatory hurdles in multi-brand retail operations

    Southeast Asian Ventures

    Walmart’s approach to Southeast Asia reflects strategic market targeting:

    • Indonesia: Partnership explorations with local retail chains
    • Malaysia: Focus on digital marketplace opportunities
    • Thailand:
    • Strong presence through Siam Makro partnership
    • Investment in supply chain infrastructure
    • Development of omnichannel retail solutions

    The company’s operations in these regions demonstrate varied approaches to market entry and expansion. Each market requires unique strategies, from direct retail presence to strategic partnerships and digital platforms. Walmart’s ability to adapt its business model while maintaining core operational efficiency drives its success across these diverse Asian markets.

    Walmart’s Growth Strategies for 2024 and Beyond

    Walmart has ambitious plans for expansion in 2024, focusing on strategic locations in Asia’s bustling markets. The retail giant aims to open 50 new physical stores in China alone, specifically targeting tier-2 and tier-3 cities where consumer spending power continues to rise.

    Expansion Plans

    Walmart’s growth strategy includes:

    • Building smart supercenters equipped with AI-powered inventory management
    • Introducing smaller-format stores in high-density urban areas
    • Establishing specialized fresh food markets tailored to local preferences

    Omnichannel Approach

    In addition to expanding its physical presence, Walmart is also embracing an omnichannel approach that integrates both online and offline shopping experiences. This means that customers can enjoy the convenience of shopping online while still being able to visit Walmart stores for certain products or services.

    The company’s Walmart+ membership program now offers:

    • Same-day delivery from local stores
    • Scan-and-go shopping technology
    • Personalized mobile app recommendations
    • Virtual try-on features for clothing and home décor

    Technological Innovations

    Walmart is also leveraging technology to enhance the shopping experience. The retailer’s tech-forward approach includes implementing smart shopping carts that automatically track purchases and enable checkout-free experiences. Digital price tags update in real-time, reflecting online prices and promotions across all channels.

    These innovations align with Asian consumers’ expectations for seamless shopping experiences. Walmart’s mobile app integration allows customers to create shopping lists, locate items in-store, and access exclusive deals – bridging the gap between online browsing and in-store shopping.

    Leveraging Technology to Drive Growth in Asia

    Walmart Asia’s tech-driven approach shapes its regional expansion through strategic acquisitions and innovative sourcing methods. The retail giant’s recent technology investments showcase its commitment to digital transformation:

    Smart Supply Chain Solutions

    • AI-powered inventory management systems
    • Automated warehousing facilities
    • Real-time tracking and analytics platforms

    The company’s acquisition strategy targets local tech startups specializing in:

    1. Mobile payment solutions
    2. Last-mile delivery optimization
    3. Customer data analytics

    Global sourcing remains a cornerstone of Walmart’s Asian operations. The company has established dedicated sourcing offices across:

    • Shanghai, China
    • Bangalore, India
    • Ho Chi Minh City, Vietnam

    These strategic locations enable Walmart to:

    1. Build direct relationships with manufacturers
    2. Reduce supply chain costs
    3. Maintain competitive pricing
    4. Ensure product quality control

    Walmart’s technology integration extends to its supplier network through a digital procurement platform. This system connects thousands of Asian manufacturers with Walmart’s global retail network, streamlining:

    • Order processing
    • Quality assurance
    • Product development
    • Market trend analysis

    Tapping into Southeast Asia’s Digital Boom

    Southeast Asia’s digital landscape presents a goldmine of opportunities for Walmart’s expansion plans. The region’s 650 million population, predominantly under 30 years old, drives a thriving digital economy worth $200 billion.

    Key market indicators paint an exciting picture:

    • Mobile-first consumers: 90% of Southeast Asian internet users connect primarily through smartphones
    • Rising middle class: Expected to reach 350 million by 2025
    • E-commerce adoption: 70% year-over-year growth in online shopping

    Walmart’s strategic focus on this region aligns with these demographic advantages. The company’s digital initiatives target tech-savvy young professionals through:

    • Mobile payment integration
    • Social commerce features
    • Personalized shopping experiences

    The region’s digital infrastructure continues to evolve, with 5G networks rolling out across major cities. This technological advancement supports Walmart’s vision of seamless shopping experiences, from in-app purchases to same-day deliveries.

    Conclusion

    Walmart Asia’s strategic expansion is a significant moment in the retail giant’s global journey. The company’s multi-faceted approach – combining physical store growth, digital innovation, and market-specific adaptations – positions it strongly for success in the diverse Asian marketplace.

    The success of Walmart’s Asian ventures depends on three critical factors:

    • Local Market Understanding: Each Asian country has its own unique consumer preferences, shopping behaviors, and cultural nuances
    • Digital Integration: The seamless blend of online and offline retail experiences meets evolving consumer demands
    • Strategic Partnerships: Collaborations with local players strengthen market presence and distribution networks

    The company’s commitment to tailoring its business model for different Asian markets shows its dedication to long-term regional growth. From China’s tech-savvy consumers to India’s emerging middle class and Southeast Asia’s digital natives, Walmart’s adaptive strategy addresses diverse market needs.

    The next few years will be crucial for Walmart Asia’s expansion plans. As the region continues to transform economically, Walmart’s ability to balance standardization with localization will determine its success. The company’s investment in technology, infrastructure, and human capital reflects its confidence in Asia’s potential as a key driver of future growth.

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  • Combating Deepfake Disruption in Asia

    Combating Deepfake Disruption in Asia

    In Asia, these risks are amplified by diverse linguistic landscapes, complex political environments, and a high penetration of mobile and digital services. According to Grand View Research, the global deepfake AI market size was estimated to be worth USD 562.8 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 41.5% from 2024 to 2030.

    In the region, more than 2.8 billion people are connected to the internet. This massive digital audience offers both a ripe target and a potential shield, depending on how countries and telecoms respond.

    Telecommunication operators across Asia are no longer just internet providers; they’re digital gatekeepers. With their access to user data flow and infrastructure control, telcos are uniquely positioned to play a significant role in countering deepfakes.

    In Singapore, Singtel has launched an AI cloud service to democratize artificial intelligence (AI) for enterprises and the public sector. As part of this effort, it signed a memorandum of understanding (MoU) with Hive, whose enterprise-grade models specialize in detecting deepfakes, generative AI (GenAI) content, and other harmful media. Leveraging NVIDIA chips and Singtel’s AI infrastructure, Hive provides clients with access to state-of-the-art detection tools suited for sensitive data environments.

    In 2024, HONOR unveiled a real-time deepfake detection system at Mobile World Congress Shanghai, which is embedded in its smartphones and can identify manipulation during video calls. Moreover, Aletheia, a browser plug-in and endpoint software, can detect deepfakes by analyzing pixels and audio frequencies with up to 90% accuracy. Singapore’s ST Engineering developed Einstein.AI, which flags facial and audio anomalies in media content to protect public trust, especially ahead of elections.

    Recognizing the increasing prevalence of online scams, cyberbullying, and misinformation in the digital space, CelcomDigi is taking a proactive approach to ensure content authenticity. As part of its broader initiative to promote online safety, the company hosted two exclusive Online Safety and Anti-Scam Masterclasses to empower content creators, social media influencers, and radio presenters to become advocates for digital safety. CelcomDigi’s Head of Sustainability, Philip Ling, explained:

    The future of deepfake defense in Asia lies in collaboration. As the World Economic Forum points out, combating deepfakes requires a “whole-of-society” approach, involving governments, private companies, academia, and civil society.

    Proposed regional strategies to combat deepfake disruptions in Asia include the introduction of the Expanded ASEAN Guide on AI Governance and Ethics – Generative AI, which illustrates its policy recommendations through four detailed use cases highlighting public and private institutions in the region that are implementing responsible AI practices. These include PhoGPT and VinAI in Vietnam, which focus on ethical generative AI development; Accenture’s Responsible AI Internal Programme, applied across ASEAN; Singapore’s Project Moonshot, led by the AI Verify Foundation to build trustworthy AI frameworks; and Thailand’s ThaiLLM, a collaborative effort by BDI, NSTDA, VISTEC, and other partners to develop large language models (LLMs) under ethical guidelines.

    In 2024, the International Telecommunications Union’s (ITU) ‘AI for Good Global Summit’ brought together technology and media companies, artists, international organizations, standardization bodies, and academia, to discuss the security risks and challenges of deepfakes and generative artificial intelligence (AI). ITU experts predict that 90% of online content will be AI-generated in 2025; hence, they identified that the focus has shifted to developing technical standards for watermarking and verifying content authenticity. These efforts aim to distinguish between human-generated, AI-generated, and hybrid content, providing a reliable framework for content validation and helping combat misinformation in an increasingly synthetic digital environment.

    In 2025, the Philippine government launched the Asia-Pacific Deepfake Task Force and rolled out an artificial intelligence-powered detection tool to combat disinformation and potential election fraud in light of the upcoming May elections. According to Cybercrime Investigation and Coordinating Center (CICC) Undersecretary, Alex Ramos, this initiative is part of a broader strategy to empower citizens against the escalating threat posed by deepfakes.

    “This tool will be distributed to accredited institutions, including election watchdogs like the Parish Pastoral Council for Responsible Voting (PPCRV), universities, and fact-checking groups,” Ramos explained. “During community gatherings, if someone reports suspicious content, it can be analyzed quickly using this tool.”

    Deepfakes can be considered both insidious and intelligent; it’s a technological feat with the potential to harm or help, depending on its application. Hence, APAC-based telcos, governments, and stakeholders are collectively adopting a unified approach to address the challenges posed by synthetic media in the region.

    In Asia, where digital growth is outpacing regulation, the challenge is formidable; however, through forward-looking legislation, public-private partnerships, and telecom-driven innovation, the region is forging a resilient path forward.

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  • Huawei Unveils Comprehensive Suite of AI-Powered Solutions at MWC Barcelona 2025

    Huawei Unveils Comprehensive Suite of AI-Powered Solutions at MWC Barcelona 2025

    At the Huawei Product & Solution Launch during Mobile World Congress (MWC) Barcelona 2025, Huawei revealed its innovative roadmap, showcasing a comprehensive suite of AI-powered solutions designed to transform network infrastructure, accelerate digital information, and propel the industry into a more intelligent, connected, and sustainable digital future.

    AI-Centric Network Solution, Seizing New Opportunities in the AI Era

    Yang Chaobin, Huawei’s Director of the Board and CEO of the ICT Business Group, introduced the AI-Centric Network solution to address the growing demand for enhanced network bandwidth, lower latency, wider coverage, and improved operations and management.

    In his keynote, Yang Chaobin highlighted the solution’s four-layered approach, which includes all-domain connectivity, application-oriented O&M, enhanced AI-to-X services, and innovative business models. Through this strategy, Huawei aims to accelerate the transition towards an intelligent world while unlocking new revenue streams.

    AI-Centric 5.5G, Igniting the Mobile AI Era

    Building on an AI-powered network foundation, Cao Ming, Vice President of Huawei and President of Huawei Wireless Solution, noted that mobile AI aims to revolutionize the world by delivering intelligent, human-like experiences anytime, anywhere, and for everything. This shift towards ‘AI for All’ will drive three major transformations in the mobile industry. Firstly, it will transform the user experience from being downlink-focused to offering diverse capabilities. Secondly, it will evolve O&M from AN L3 to AN L4 intelligence. Thirdly, it will shift business models from traffic-based to multi-factor monetization.

    In the mobile AI era, connections will expand from human-to-human to human-to-AI and AI-to-AI, requiring diverse experiences and services. For multi-modal AI interactions, high uplink capability is essential. Cao Ming mentioned that, for real-time AI agent calling, ultra-low latency is critical. To enable ubiquitous intelligent connections, Cao Ming emphasized that seamless coverage is necessary, particularly for AI-powered devices in both dense cities and remote areas.

    To address these challenges, Cao Ming introduced three AI-Centric 5.5G solutions: GigaGear, GreenPulse, and GainLeap.

    Intelligent Core, Paving the Way to the Mobile AI Era

    Further expanding on the mobile AI concept, George Gao, President of Huawei Cloud Core Network Product Line, charted the evolution of core networks into AI-native systems.

    In his keynote, George Gao noted that AI core network transformation occurs in two phases: 5G-A Intelligent Core and Agentic Core. He added that 5G-A Intelligent Core can equip three intelligence entries with calling agents, personalized experience agents, and digital expert agents.

    Moreover, George Gao also launched Huawei’s Telco Intelligent Converged Cloud (TICC) infrastructure, which manages heterogeneous hardware and integrates FusionMind to provide high-quality training and inference services for agents.

    Towards AI ON for New Growth in the AI Era

    Huawei’s product and solution launch also showcased optical network advancements, with Bob Chen, President of Huawei Optical Business Product Line, unveiling the AI Optical Network (AI ON) concept.

    AI applications, from self-owned call assistants to third-party chatbots, thrive on a strong network foundation. According to Bob Chen, the equation is clear: (Data + Model + Computing) x Network = AI prosperity. However, AI development demands deterministic connections and on-tap computing power akin to utilities like electricity and water.

    The transition to AI ON networks requires awareness, always-on demand, assurance, autonomous O&M, and AI-native capabilities. Chen explained that traditional networks struggle with undifferentiated services and reactive repairs, but AI-driven networks offer:

    • Customized Connections: Instead of fixed speeds, users can get tailored services. For example, a gaming package can offer 500 Mbps speed, 10 ms latency, and 99.9999% reliability.
    • Deterministic Performance: AI ensures low latency, “0” packet loss, and hitless protection switching, eliminating uncertainties caused by congestion and failures.
    • Autonomous Operations: The application of AI enables real-time risk detection, automatic troubleshooting, and proactive network health checks.

    AI WAN: Leading IP Networks into the Intelligent Era

    Meanwhile, Leon Wang, President of Huawei Data Communication Product Line, presented the company’s new AI WAN solution, which is designed to empower IP networks in the Net5.5G era using AI. During his keynote, Leon Wang highlighted the solution’s three-layer architecture, comprising AI routers, AI new connections, and AI new brain, which enhances network performance and intelligence through millisecond-level flow sampling, high-accuracy flow awareness, and efficient security protection engines.

    Leon Wang explained that AI WAN’s predictive traffic management helped MTN South Africa reduce congestion at 10% of its 7,000 base stations, resulting in a 25% increase in data usage (DOU) in KwaZulu-Natal and traffic grew by 15.4%. In home services, Carrier CTM partnered with Huawei to optimize network services using an AI computing engine. This resulted in a dramatic reduction in game latency and hence a significant improvement on customer experience. For enterprise security, AI WAN’s intelligent flash defense detected attack flows, enabling carriers to offer high-value security services with a projected 35% revenue increase.

    AI-Ready Data Infrastructure Accelerates Telco-to-Techco Transformation

    In his keynote, Peter Zhou, President of Huawei Data Storage Product Line, highlighted the growing importance of data in the AI era, as AI agents are set to leverage massive amounts of data to transform consumer, home, and business experiences.

    By 2030, Peter Zhou predicts that each individual will generate TB-scale data, powering 10 billion AI agents, while each family will produce PB-scale data for 1.8 billion AI housekeepers, and enterprises will manage EB-scale data, driving 2.8 billion AI applications. To support this, Huawei introduced AI-Ready data storage, featuring a data lake, diverse data services, and a FlashEver business model. Their AI-driven storage innovations include OceanStor Dorado, which enables seamless AI and cloud-native applications; the OceanStor A Series storage, which reduces GPU wait time by 30% and cuts inference costs by 40%; and the OceanStor Pacific, which doubles storage capacity while cutting power consumption by 40%.

    Peter Zhou added that Huawei’s security and business continuity solutions can reduce TCO by 30%, recover 1 TB of data in 20 seconds, and offer flexible AI storage models like FlashEver, a pay-as-you-go model with 10-year investment protection.

    Huawei ICT Services and Software Enable Digital Intelligence Acceleration

    In his keynote, Bruce Xun, President of Huawei Global Technical Service, showcased a series of innovative digital intelligence solutions to address the key challenges in the industry’s digital transformation journey.

    Huawei established the equipment Center Office (CO) modernization solution, Intelligent Operations solution for MBB cross-domain service keepalive, Mobile Network NPS Improvement solution, Differentiated Service Experience Monetization and Assurance solution, and enhanced Mobile Money solution.

    He emphasized focusing on high-value business scenarios, such as streamlining network, data, and AI capabilities along the value stream, and quickly integrating Copilot, AI Agent, and DTN into the operation process for efficient human-machine collaboration and value realization, ultimately creating tangible business value and accelerating digital intelligence.

    Accelerate Intelligence with Cloud, Leap from Telco to Techco

    Bruno Zhang, Huawei Cloud CTO, discussed the comprehensive strategies required for telecom carriers to shift to technology companies, highlighting, “Carriers have clear expectations for the cloud.” In his keynote, Bruno Zhang outlined Huawei’s cloud offerings, including Huawei Cloud Stack and CloudDC to support this transformation.

    The Huawei Cloud Stack has reduced TCO by 50% over 3 years, offering 120+ cloud services for seamless migration, while CloudDC provides 30+ Tier 3+ data centers with a 10x efficiency boost and AI-powered fault recovery within 15 minutes. In terms of AI-powered databases, GaussDB outperformed competitors, doubling performance, ensuring zero data loss, and auto-fixing 90% of faults.

    Huawei’s ‘AI for Industries’ initiative leverages its Pangu Models and ModelArts to help enterprises create industry-specific AI models, with over 400 AI applications successfully deployed across 30+ industries. To help carriers leverage their device-cloud synergy with multi-architecture compute and multi-OS devices, Huawei created Cloud Device, a family of products including KooPhone, KooDrive, and Cloud STB. These products deliver 60 ms latency and zero buffering.

    Bruno Zhang highlighted that live streaming and AI have experienced remarkable growth, with streamers increasing by 10x and AI usage growing 20x over the past five years. While traditional networks face challenges, Huawei’s Cloud Media Edge enhances real-time streaming and drives ARPU growth. Finally, Bruno Zhang explained that carriers require ecosystem capability and operational expertise to expand their enterprise business, and Huawei Cloud offers two solutions to support this. KooGallery provides carriers with easy access to tens of thousands of enterprise applications via standard APIs, while Cloud on Cloud offers comprehensive cloud operation capabilities.

    AI Empowering Operators Accelerated Transition Towards Energy Prosumers

    Recognizing the significant role of technological innovation in the intelligent era, He Bo, President of Huawei Data Center Facility & Critical Power Product Line, highlighted the challenges of rising energy consumption, emissions, and infrastructure reliability. In his keynote, Bo noted that AI-driven energy solutions are transforming operators into Energy Prosumers 2.0.

    He Bo introduced the Single SitePower infrastructure and AI-driven DC infrastructure to address these concerns. These solutions integrate energy and information flows and enhance resilience, efficiency, and sustainability. He also highlighted Huawei’s Virtual Power Plants (VPP), AI-driven PV+ battery systems (which increase energy yield by 20% and reduce cabling by 80%), and the Arc-Fault Circuit Interrupter (AFCI), which can extinguish arcs in 2.5 seconds, improving safety.

    Meanwhile, Huawei’s modular designs and advanced cooling systems for data centers are addressing reliability, uncertainty, delivery, and high power demands. Huawei’s series of innovations aims to establish a greener energy foundation for the ICT industry, driving operators to thrive while accelerating carbon neutrality goals.

    Through these comprehensive product and solution offerings, Huawei is demonstrating its commitment to driving innovation and establishing an intelligent and sustainable digital ecosystem, ultimately advancing the telecommunications industry.

  • Taiwanese bubble tea chain Gong Cha hits US$600m in global sales

    Taiwanese bubble tea chain Gong Cha hits US$600m in global sales

    Taiwanese bubble tea chain Gong Cha has reached US$600 million in global system sales for the 12 months ended December, driven by its rapid global expansion.

    Group revenue also rose 12 percent year-on-year to US$190 million as the brand expanded operations in Japan, South Korea, and the US.

    The company opened 240 new stores and entered five new markets: Saudi Arabia, Morocco, Mauritius, Honduras and Puerto Rico. Gong Cha now operates 2162 stores across 28 countries.

    “It’s been a fantastic year for Gong Cha,” said Paul Reynish, global CEO. “We’ve invested heavily in our supply chain and operations, expanded our footprint through new stores and geographies, and focused on making our existing stores more efficient and profitable for our franchisees.”

    The company recently introduced a new store format, Gong Cha 2.0, alongside a digital kitchen system that features ordering kiosks and automated drink machines.

    The brand also launched several marketing campaigns, including a high-profile collaboration with Final Fantasy XIV and limited-time drink offerings, resulting in more than 1.3 billion media impressions last year.

    “Looking ahead, we see huge potential for Gong Cha to become a global brand,” Reynish added.

    Founded in Taiwan in 2006, Gong Cha relocated its global headquarters to London in 2019. The company plans to enter at least six new markets this year and reach 10,000 stores globally by 2032.

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  • DHL Group and Temu sign Memorandum of Understanding to support local businesses

    DHL Group and Temu sign Memorandum of Understanding to support local businesses

    DHL Group, the world’s leading logistics company, has signed a Memorandum of Understanding (MoU) with the e-commerce marketplace Temu to deepen their cooperation and to further expand their successful partnership. The agreement aims to enhance collaboration to better support local small and medium-sized enterprises (SMEs) in established markets as well as in growth markets, such as Eastern Europe and the Middle East. Both parties are committed to fostering compliant trade and sustainable practices.

    DHL Group will support Temu through its logistics expertise, including multimodal transportation solutions, to provide more efficient and sustainable supply chain services. With its dense network and global presence, DHL Group is the ideal partner to support Temu’s growth in both established and new markets.

    “Through our various DHL divisions, we are already providing a wide range of logistics services and solutions, including air freight and last-mile delivery. We are excited to elevate our partnership with Temu to the next level. By combining our logistics capabilities with Temu’s innovative platform, we can create more efficient, compliant and convenient solutions that benefit both consumers and local businesses in the markets we serve,” states Katja Busch, CCO and Head of DHL Customer Solutions & Innovation.

    As part of the Memorandum of Understanding, DHL Group will utilize its logistics expertise to support Temu’s operations in Europe, including its local-to-local model, which enables local merchandise partners to sell on its platform and supports local fulfillment. Temu expects up to 80% of its total sales in Europe to come from this local-to-local model. Additionally, the e-commerce platform will enable European-based sellers to reach global markets in the future. This allows, in particular, SMEs to scale and expand their businesses. DHL will also assist Temu in growing its presence in e-commerce markets, including the Europe, Middle East, and Africa (EMEA) regions.

    “This letter of intent marks a significant step in our partnership with DHL Group. Its extensive network and logistics capabilities will help support our mission to increase consumer access to affordable products and help increase growth opportunities for sellers,” states Qin Sun, co-founder of Temu.

  • Thailand proposes China facilitate durian export

    Thailand proposes China facilitate durian export

    The Commerce Ministry of Thailand has recently requested the China Customs to extend the working hours at the Mohan checkpoint on the border with Laos to facilitate durian inspections.

    Specifically, the closing time will be changed from 5.30pm to 8.30pm, according to Deputy Minister Napintorn Srisunpang.

    Chinese authorities will also increase the number of inspection laboratories from three to five, adding more officials to streamline the process at this checkpoint, Napintorn said.

    He revealed that discussions with customs officials at multiple checkpoints indicated that Thai durian is free from contamination by Basic Yellow 2 (BY2) dye or cadmium.

    Previously, only 30% of durian imports underwent testing, but since January all containers must be checked for BY2 and cadmium contamination by certified laboratories in Thailand, plus face complete inspection upon arrival at Chinese borders.

    Napintorn said this heightened scrutiny has resulted in delays, with transport times stretching up to eight days. Concerns have been raised that during peak seasons, the inspection process could extend to as long as 10 days, potentially resulting in delivery times of up to 20 days, which may compromise quality and negatively impact sales of Thai durian.

    Due to expanded cultivation and improved yields, durian production is anticipated to rise by 37% year-on-year in 2025, reaching over 1.7 million tonnes, up from 1.2 million tonnes in 2024.

    Last year, domestic consumption was at 280,000 tonnes with 800,000 tonnes exported, 97% of which went to China. This year, exports are projected to increase to 1.3 million tonnes, while domestic consumption is expected to grow to 400,000 tonnes.

  • Guess to transfer Chinese operations to local partner

    Guess to transfer Chinese operations to local partner

    Guess plans to transfer its operations in Greater China to a local partner this year as part of its restructuring strategy.

    “After many years of running our own direct operations in Greater China, we believe there is an opportunity for this market to be directly developed and managed by a local, highly experienced partner,” said CEO Carlos Alberini.

    “We have already met several potential candidates for consideration and we expect for this transition to be completed before the end of this fiscal year.”

    In addition, the retailer plans to streamline its Guess full-price store portfolio in North America by exiting non-strategic, unprofitable locations.

    Alberini explained that the company is focusing on increasing direct-to-consumer sales productivity globally and improving profitability through business and portfolio optimisation.

    For the fourth quarter ended February 1, Guess reported a 5 per cent increase in revenues to $932.3 million, driven by the Rag & Bone acquisition, positive momentum in the wholesale business, and increased licensing revenues.

    In the Americas, retail sales were up 4 per cent while wholesale revenues soared 63 per cent. Europe revenues increased 2 per cent and Asia revenues fell 15 per cent. Licensing revenues were up 18 per cent.

    GAAP net earnings for the period dropped 29 per cent to $81.4 million, including a net $18.9 million unrealised loss due to the change in fair value of the derivatives related to the company’s convertible senior notes due 2028.

    For the full year, sales grew 8 per cent to $3 billion and adjusted net earnings decreased 40 per cent to $104.5 million.

    “During the year, we delivered solid results with our licensing segment and our wholesale businesses in Europe and the Americas, but missed our plans for our direct-to-consumer business due to slower customer traffic in North America and Asia,” commented Alberini.

    For FY26, the retailer expects net revenues to increase 3.9-6.2 per cent. It forecast a loss of $30-35 million in the first quarter and earnings of $133-165 million for the full year.

    In a separate announcement, Guess said its board has established a special committee to review the non-binding takeover offer from WHP Global.

    “The special committee is carefully evaluating and considering WHP Global’s proposal with the assistance of its financial and legal advisors and has not yet determined whether it is appropriate to pursue the proposed transaction or any other transaction,” the company stated.

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  • China Airlines partners with Chunghwa Telecom Laboratories on new roadmap to develop airline AI applications

    China Airlines partners with Chunghwa Telecom Laboratories on new roadmap to develop airline AI applications

    China Airlines (CAL), a Taiwan-based carrier, has strategically positioned itself for the future by signing a memorandum of understanding (MOU) this month with Chunghwa Telecom Laboratories (CHTTL) to expand the use of Artificial Intelligence (AI) technology resources. The two companies will share their respective industry applications and R&D technology to co-develop an integrated AI development and management platform. This strategic move will not only make services more accessible to travelers but also define a new roadmap for AI development in the airline industry.

    As the first airline to form such a partnership with CHTTL, CAL will focus on enhancing the AI service experience and strengthening corporate management of on-premises AI applications. The incorporation of “AI interactive voice response” functionality with customer service chatbots into the CAL website will provide travelers with additional answers to their inquiries, enhancing their overall experience. “Customer conservation analytics” performed by generative AI will analyze and categorize questions in audio files in real time to help customer service staff track common traveler questions with great precision. The data can also be used to improve internal education and training as well as enhance the productivity and quality of customer service.$

    For internal enterprise management, CAL will combine AI “forecasting and early warning applications” with big data to accurately predict the number and weight of luggage on each flight. The information can be used to maximize the utilization of belly cargo space on passenger flights and cargo hold space on freighter flights, which promises savings for the workforce. At the same time, the two companies will co-develop a “Smart Generative AI Platform” that uses machine learning model management and the construction of large language models (LLM) to accelerate the scaling and deployment of AI operations. The platform will also assist businesses with more effective management of on-premises AI applications and shorten model development time.

    Research and development of telecommunications and information-communications technologies have always been the focus of CHTTL. The Labs have played a key role in defining international standards and industrial innovation as well. Current fields of research include the core technologies for broadband networking, mobile networking, AI, and information security. CHTTL has already developed numerous AI applications for enterprise use, including AI customer service chatbots, AI voice assistances, and the customer sentiment analysis platform (DeepVoice). These solutions have been recognized by the Taiwan Excellence Awards, National Brand Yushan Awards, and other top awards, demonstrating the quality and innovation of CHTTL’s work. The latest partnership will lead to new milestones in the use of smart AI technology in the Taiwanese airline industry.

    CAL continues to promote innovative services by incorporating the latest AI applications into its traveler experience and into internal management to boost team productivity. In 2024, CAL became the first Taiwanese carrier to receive the award for Best AI System Application Team at the Customer Service Excellence Awards (CSEA). CAL will continue to track the latest developments in the AI industry and collaborate with leading external organizations to build strategic partnerships that will accelerate AI development and boost international competitiveness through smart airline AI services.

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  • UBS Secures Key Regulatory Win in China

    UBS Secures Key Regulatory Win in China

    Swiss bank UBS is strengthening its presence in China after receiving regulatory approval to acquire a local securities firm fully.

    UBS will acquire an additional 33 percent stake in UBS Securities from Beijing State-owned Assets Management Co., Ltd (BSAM), thereby taking full control of UBS Securities in China. The big bank announced this on Friday, having received the corresponding approval from the China Securities Regulatory Commission.

    UBS Securities was the first foreign-invested, fully licensed securities joint venture in China in 2007. In 2018, UBS became the first foreign bank to take majority control of a Chinese securities firm – initially with a 51 percent stake, which was increased to 67 percent in 2022.

    UBS Securities is active in global banking, global markets, research and wealth management.

    UBS is proud of its long history in China and of serving clients in one of the most important and fastest-growing markets in the world. We will continue to invest in China as a central pillar of our growth ambition, further strengthening our leadership position in the region, said Group CEO Sergio Ermotti.

    The move to full ownership of UBS Securities is an important milestone for our integrated strategy in the region. It enables us to further expand our investment banking and wealth management offering in China. Not only will we be able to capitalize on the tremendous business opportunities as China’s financial sector opens up, but we will also gain better access to the unique wealth creation that we can support with our products, services and advice,» Iqbal Khan, President Asia Pacific and Co-President Global Wealth Management at UBS, said.

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  • Costco is pressuring Mainland China suppliers to cut prices as tariffs loom

    Costco is pressuring Mainland China suppliers to cut prices as tariffs loom

    The Financial Times reported on Tuesday, citing two suppliers, that Costco Wholesale is pressuring mainland China suppliers to cut prices in response to US tariffs.

    This follows Beijing officials meeting with Walmart earlier this month to discuss media reports that the US retailer asked Chinese suppliers to slash prices to offset tariff impacts.

    Costco’s chief executive officer, Ron Vachris, said during their quarterly earnings call earlier this month that the company would consider modifying its international supply chain if tariffs result in significant price increases.

    According to Vachris, about one-third of Costco’s US sales come from products imported from other countries, with less than half of that originating from China, Mexico, and Canada.

    Costco did not immediately respond to a Reuters request for comment.