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Tag: heights

  • Mr DIY Scales New Heights: Targets 3,000 Stores in Thailand by 2031 Following Stellar Growth

    Mr DIY Scales New Heights: Targets 3,000 Stores in Thailand by 2031 Following Stellar Growth

    Mr DIY, the biggest home improvement retail chain in Asia, is setting its sights on further expansion in Thailand, having recently reached the milestone of 1,000 stores in the country.

    Establishing a Strong Retail Presence

    Since its debut in Thailand in 2016, Mr DIY has broadened its reach significantly across 77 provinces. With its origins in Malaysia, the company now runs more than 5,000 stores in 11 countries worldwide.

    Andy Chin, the CEO of Mr DIY Thailand, expressed his excitement and optimism about the company’s future growth prospects. He shared some details about the expansion plans they have in place.

    Expansion Plans

    Mr DIY has set an ambitious target of opening an additional 210 stores in Thailand this year. In aid of this, the construction of an automated warehouse in Samut Prakan is currently in progress.

    This warehouse is set to function as a distribution center, thereby assisting Mr DIY in achieving its goal of 3,000 stores by 2031. By 2027, the company envisages having 1,500 stores operational within Thailand.

    Financial Performance

    In terms of financial performance, Mr DIY reported a revenue of THB20.1 billion during the fiscal year 2025, which was a 24.4 percent annual increase. Additionally, the company also witnessed a significant 47.8 percent surge in profits.

    Questions & Answers

    What is Mr DIY’s target number of stores in Thailand by 2031?
    Mr DIY aims to have 3,000 stores in Thailand by 2031.

    What is the role of the new warehouse in Samut Prakan?
    The new warehouse in Samut Prakan will serve as a distribution center to facilitate Mr DIY’s expansion goals.

    How has Mr DIY’s financial performance been in recent years?
    In the 2025 financial year, Mr DIY recorded a revenue of THB20.1 billion, marking a 24.4% yearly increase. Profits also saw a substantial increase of 47.8%.

  • Vietnam’s Aquatic Exports Soar to Historic Heights, Anticipating $11.3B Record Despite Global Challenges

    Vietnam’s Aquatic Exports Soar to Historic Heights, Anticipating $11.3B Record Despite Global Challenges

    Vietnam’s seafood exports have consistently shown strong growth, and they are on track to reach an unprecedented high this year, despite certain obstacles. In the initial 11 months of 2025, the total revenue from seafood shipments was over US$10.5 billion, marking an increase of 14.6% compared to the same period in the previous year, as reported by the Vietnam Association of Seafood Exporters and Producers.

    Breakdown of Seafood Exports

    Among the various types of seafood, shrimp was a significant contributor to the overall growth, generating $4.31 billion, representing a 21.2% increase year-on-year. Pangasius, a type of catfish, brought in over $2 billion, a rise of 9%, and tuna accounted for $855.7 million. Furthermore, molluscs, marine fish, and value-added products all experienced growth in the double digits.

    Major Export Markets

    Countries that are part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) were the primary recipients of Vietnam’s seafood exports, accounting for 27.2% of total shipments. The volume of exports to these nations grew by 24.3% year-on-year.

    China and the EU also saw significant increases in shipments, with growth of 30.6% and 11.9% respectively. Additionally, exports to the U.S. increased by 8.1%, reaching $1.78 billion.

    Le Hang, the deputy general secretary of the association, observed that the success of Vietnam’s seafood exports, in spite of an unpredictable global market, is a testament to the strategies adopted by its exporters, which are both proactive and adaptable.

    Outlook for December and the Future

    The exports are expected to experience a minor decline in December due to seasonal impacts and a cautious approach from exporters dealing with the U.S., as several businesses have chosen to temporarily limit new orders from the U.S. due to the impending guidance on its Marine Mammal Protection Act. However, shrimp shipments may not be significantly affected due to steady demand from Japan, the EU, and CPTPP nations.

    Looking at the current data and end-of-year projections, it is anticipated that the annual revenue from seafood exports will reach somewhere between $11.2 and $11.3 billion, which would be the highest figure to date. Shrimp exports are projected to exceed $4.6 billion, thereby setting a new record, and it is forecasted that the shipments of pangasius will surpass $2.1 billion due to the recovering demand in Asia. Tuna exports are also estimated to surpass $900 million.

    Questions & Answers

    What factor contributed the most to the growth in Vietnam’s seafood exports?
    The largest contributing factor to the growth in Vietnam’s seafood exports was shrimp, which generated $4.31 billion and saw a 21.2% increase compared to the previous year.

    How have Vietnam’s seafood exports fared in the global market?
    Despite uncertainties in the global market, Vietnam’s seafood exports have shown consistent growth due to the proactive and adaptable strategies of its exporters.

    What is the projected revenue from Vietnam’s seafood exports this year?
    Based on current data and end-of-year predictions, the annual revenue from seafood exports will likely reach between $11.2 and $11.3 billion, which would be the highest figure to date.

  • Vietnam’s Durian Domination: Record-Breaking Exports Propel Agriculture to New Heights

    Vietnam’s Durian Domination: Record-Breaking Exports Propel Agriculture to New Heights

    In the first ten months of the current year, Vietnam experienced an unprecedented surge in durian exports, reaching a historic high of US$3.3 billion. This represents a 10.4% increase year-on-year. Vietnam Customs data shows that durian exports continue to play a dominant role in the nation’s agricultural export revenue.

    China: The Main Market for Vietnamese Durians

    A staggering 94% of all durian exports, equivalent to $3.14 billion, were shipped to China, marking a 14% increase year-on-year.

    Dang Phuc Nguyen, the General Secretary of the Vietnam Fruit and Vegetable Association, reported that Vietnamese durian exports have been experiencing robust growth despite stricter inspections by Chinese authorities for banned substances. This growth, he suggested, is attributed to the improved quality and competitive pricing of Vietnamese durians.

    On average, the export price for a ton of durian was $3,696, approximately 15% less than the price for Thai durians. This makes Vietnam the second largest durian exporter to China, following Thailand.

    Improvements and Investments in Quality Control

    In response to China’s tighter quality standards, many Vietnamese exporters have made considerable investments in cold storage and packaging facilities and have also taken steps to establish their own brands.

    The Ministry of Agriculture and Environment has responded by implementing a quality control process specifically for durian.

    Other Markets for Vietnamese Durians

    Apart from China, other markets have also demonstrated strong growth in their imports of Vietnamese durians. Hong Kong, for instance, increased its imports by nearly 89%, equating to over $45 million. Other countries including Papua New Guinea, Malaysia, Japan, and Canada have also notably increased their purchases of this fruit.

    Analysts’ Warnings

    Despite the remarkable figures, analysts have cautioned Vietnam against becoming too dependent on one single product like durian, which currently constitutes over half of its fruit and vegetable exports.

    In order to maintain growth and solidify its position in major markets, experts suggest that the nation’s agricultural sector diversify its products, enhance cold-chain systems, and implement stricter quarantine and storage quality standards.

    Nguyen remains optimistic about the future of durian exports, projecting that, given current growth trends and positive indications, they could reach a record-breaking $4 billion this year.

    Questions & Answers

    What was the value of Vietnam’s durian exports in the first ten months of this year?
    The value of Vietnam’s durian exports in the first ten months of this year was a historic US$3.3 billion.

    Who is the primary purchaser of Vietnamese durian?
    China is the primary purchaser of Vietnamese durian, accounting for 94% of all exports.

    What are analysts’ recommendations to sustain the growth of Vietnam’s agricultural sector?
    Analysts recommend that the agricultural sector diversify its products, improve its cold-chain systems, and enforce stricter quarantine and storage quality standards to sustain growth.