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Tag: Indonesia

  • PT Trans Media Corpora & CNBC to Launch “CNBC Indonesia”

    PT Trans Media Corpora & CNBC to Launch “CNBC Indonesia”

    PT Trans Media Corpora and CNBC have agreed a strategic partnership that will culminate in the launch of CNBC Indonesia.

    The service, which will be based in Bahasa, Indonesia, will bring CNBC’s unrivalled content to the growing business community in South East Asia’s largest economy and the world’s fourth most populous country.

    The partnership was signed in Jakarta by CNBC Chief, Mark Hoffman and Chairul Tanjung, Founder & Chairman of PT Trans Media Corpora’s parent company, CT Corp.

    Hoffman Said; “This collaboration with Trans Media is a strong addition to the suite of strategic partnerships underpinning CNBC’s emerging markets strategy. We are pleased to bring CNBC’s unique and robust content proposition to millions of Indonesians in their local language, further opening the world of international business and finance to a growing economic powerhouse.”

    “The primary objectives of the CNBC Indonesia venture are to facilitate global business conversations in Bahasa Indonesia, to educate our growing middle class, and to facilitate better information flow for decision making. This will help realize the full potential of the capital markets and businesses, accelerating the economic development of Indonesia,” added Tanjung.

    Specific launch dates for the digital and TV services are expected to be announced later this year.

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  • Lion group to receive 44 aircraft

    Lion group to receive 44 aircraft

    Lion Group will procure 44 aircraft this year for the airlines under its operations, including Lion Air, Wings Air, and Batik Air, Edward Sirait, its president director, stated here on Monday.

    He noted that the aircraft fleet is being expanded to increase capacity in view of the growth this year, which is expected to reach 15 percent.

    Edward remarked that 14 aircraft will be for Lion Air, 18 for Wings Air, and 12 for Batik Air.

    “The number will be adjusted based on the market demand in line with the transportation ministrys forecast that the number of passengers will increase by 15 percent,” he claimed.

    He affirmed that all the new aircraft for Lion Air are Boeing, while Batik Air will receive Boeing and Airbus aircraft, and Wings Air would get ATR aircraft.

    He stated that the aircraft were procured through operating lease and financial lease schemes.

    He noted that the new aircraft will be used to serve new routes, especially for direct flights such as on the Balikpapan-Bandung, Tarakan-Semarang, and Banjarmasin-Denpasar routes.

    He remarked that Lion Group will also start flight services for minor Hajj pilgrims, with direct flights to Madinah using the wide-bodied Boeing 747 and Airbus 330.

    “Other airlines only offer flights to Jeddah, from where the passengers have to undertake a six-hour land journey. We have prepared direct flights to Madinah, so that the passengers could immediately proceed to carry out their religious rites,” he added.

    Lion Group currently has two Boeing 747 and three Airbus 330 aircraft.

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  • Understanding CapitaLand Limited From An Investor’s Perspective

    Understanding CapitaLand Limited From An Investor’s Perspective

    CapitaLand Limited (SGX: C31) is one of Asia’s largest real estate companies with a presence in Singapore, China, Indonesia, Malaysia and Vietnam. It is listed on the Singapore Exchange with a market capitalization of over S$13 billion.

    The company has a diversified suite of real estate businesses. This includes the development of residential and commercial properties, as well as the ownership and management of retail malls, offices, and hospitality properties. In addition, CapitaLand has a number of Singapore-listed trusts under its umbrella and these include:

    • CapitaLand Mall Trust (SGX: C38U), a real estate investment trust (REIT) that owns and manages mainly retail malls in Singapore.
    • CapitaLand Commercial Trust (SGX: C61U), a REIT with a portfolio of predominantly Singapore commercial/retail buildings.
    • Ascott Residence Trust (SGX: A68U), a REIT that holds hospitality-related properties (such as serviced residences) in the U.S., Europe, Asia, and Australia.
    • CapitaLand Retail China Trust (SGX: AU8U), a China-focused REIT that owns a portfolio of retail malls in the country.

    2015 was a year in which the Singapore stock market, as represented by the Straits Times Index (SGX: ^STI), fell by 14%. CapitaLand, however, bucked the trend with a gain, albeit a meagre one of just 1.4%.

    Let’s analyze the company’s financials to understand if it may be a potential investing opportunity now. For this we will be using four metrics, namely the price to earnings (P/E) ratio, price to book (P/B) ratio, net debt to equity ratio, and dividend yield.

    CapitaLand has a trailing 12 months (TTM) earnings per share of S$0.288, according to S&P Capital IQ. With the company’s current share price of S$3.14, this implies a P/E ratio of 11. This is on par with the P/E ratio of the SPDR STI ETF (SGX: ES3) – an exchange-traded fund tracking the Straits Times Index – which stands at 11.

    As at the end of the third-quarter of 2015, CapitaLand has a net asset value per share of S$4.14. This would mean that the company has a P/B ratio of 0.76 at its current share price. What this means is that investors are able to buy the company’s assets, net of all liabilities, at a discount at the moment. Investors might thus be able to get a margin of safety with CapitaLand.

    Moving on, CapitaLand had net debt (total borrowings minus cash) of S$12.5 billion and equity of S$24.5 billion as of 30 September 2015. This would imply a net debt to equity ratio of 51%, which is on the high side, in my opinion.

    Lastly, the company has a dividend yield of 2.9% based on its 2014 annual dividend of S$0.09 per share. It’s worth noting that CapitaLand’s ordinary dividend has been growing over the past few years, rising in 1 cent per share increments in each year from S$0.06 per share in 2011 to S$0.09 in 2014.

    In looking at the four metrics, the negatives appear to outweigh the positives. While CapitaLand’s low P/B ratio may give investors some margin of safety, its high net debt to equity ratio could add some risk. Moreover, CapitaLand’s P/E ratio and dividend yield are not very attractive.

    To sum it up, the four metrics seem to suggest that CapitaLand may not be a potential investing opportunity for investors currently. That being said, a deeper look will still be required before any firm investing conclusion can be reached – the four metrics only represent a useful starting point for further research.

     

  • Bank Mega, official Barcelona bank in Indonesia

    Bank Mega, official Barcelona bank in Indonesia

    FC Barcelona and Bank Mega signed a Regional Partnership Agreement last December to officially confirm the latter as FCB’s Official Bank in Indonesia. The representatives of the Club at the signing ceremony included Manel Arroyo, Vice Chairman, Francesco Calvo, Chief Revenue Officer and Xavier Asensi Brufau, Managing Director – Asia Pacific, while Bank Mega was represented by Kostaman Thayib, President Director and Dodit Wiweko Probojakti, Managing Director of Cards and Loan.

    The agreement makes Bank Mega Barça’s first ever banking partner in Indonesia. Holders of Mega Barça cards will have various advantages, such as the chance to win tickets for Barça games at Camp Nou, extra rewards for purchases at FCB’s official Asian online store, the chance to win exclusive FCB gifts and more. Savings Account customers that meet specific requirements will also receive special FCB souvenirs. The program will be launched in the first quarter of 2016.

    About Bank Mega

    Bank Mega is one of the largest card issuers in Indonesia under CT Corpora holding company. Bank Mega has a network of 345 branches across Indonesia.

    The bank strengthens the synergy of companies under the management of PT CT Corpora, such as Carrefour and Metro, as well as improving credit card services, a factor that distinguishes Bank Mega from the competition.

    “Bank Mega is the perfect bank to be the Official FC Barcelona Bank in Indonesia” said Manel Arroyo. “We are delighted to form this partnership and reach our massive fan base in Indonesia and show our appreciation to the fans through various partnership programs. Bank Mega is one of the top three credit card issuers in Indonesia, and it has strong synergy with retail companies under CT Corpora. We are confident that this partnership will be beneficial to Barça fans. We look forward to a long and mutually beneficial relationship with Bank Mega.”

    “This partnership is based on Bank Mega and FC Barcelona’s intention to provide benefits for the over 26 million Barça fans in Indonesia” added Kostaman Thayib, President Director of Bank Mega. “This partnership brings co-branded products that could enhance the fans’ identity as part of the Barça family and provide different benefits with exclusive programs from Bank Mega’s various products and services, including co-brand payment cards. Ultimately, the fans will have the money-can’t-buy opportunity to meet Barça players in person.”

    Mr Thayib also mentioned that the partnership will launch co-branded Mega – Barça cards, which will be specially designed for FC Barcelona fans in Indonesia.

     

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  • Credit Suisse: Tough Days for Retailers Next Year as Weak Rupiah and Spending Linger

    Credit Suisse: Tough Days for Retailers Next Year as Weak Rupiah and Spending Linger

    Indonesian retailers could see tough days persisting next year as they wade through a storm of weak rupiah and waning consumer demands, analysts at Credit Suisse Securities Indonesia says.

    Retailers in the country have grappled with volatility in the rupiah this year — with an 11 percent decline to 13,872 against the US dollar year-to-date — which are hiking costs of imports as well as interest from dollar-denominated debt against the backdrop of a slower economy.

    Credit Suisse Securities Indonesia is now underweight on local retailers next year, especially those with high imported content such as fashion and lifestyle retailer Mitra Adiperkasa and household store operator Ace Hardware. Credit Suisse Securities Indonesia is the the sixth-biggest broker in total value in November taking some 4 percent of the trading, data from the local bourse authority showed.

    “I’m worried about retailers with a lot of imported content because the rupiah has weakened a lot, so their merchandise is becoming more expensive for the local population to buy,” Jahanzeb Naseer, head of research for Indonesia at Credit Suisse Securities Indonesia, told reporters in Jakarta on Monday.

    “The government is also expecting a lot of machinery and infrastructure-related imports next year that they may put pressure on consumption imports.”

    Consumer spending on discretionary items, such as electronic devices and apparel, is also unlikely to improve until the second half of next year due to higher prices, according to Naseer.

    Credit Suisse forecasts the rupiah to weaken by between 6 and 8 percent next year due to pressure from the US Federal Reserve’s monetary tightening as well as a possible rate cut by Bank Indonesia.

    Meanwhile, it sees the economy growing by 5.2 percent next year — roughly in line with the government’s 5.3 percent target — on the back of accelerated government spending as well as a potential rate cut of 75 basis points by Bank Indonesia.

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  • Bee forces flight delay in Indonesia

    Bee forces flight delay in Indonesia

    An errant bee delayed the takeoff of a flight operated by Indonesia’s Garuda Indonesia, the flag carrier’s spokesman said Wednesday.

    Benny Butarbutar, the company’s vice president of corporate communications, told Kyodo News that the pilot of Flight GA197 decided to delay the flight for four hours Tuesday after finding some problems in one of the aircraft’s engines.

    The plane was scheduled to take off at 10.10am from Kualanamu international airport in the North Sumatra provincial capital of Medan bound for the capital Jakarta.

    “Based on a thorough investigation, the problem in the aircraft’s electronic engine control was caused by a bee entering the aircraft’s pitot tube located on the outer part of the cockpit, delaying the departure,” Mr Butarbutar said. The pitot tube measures airspeed.

    The incident, he added, “was beyond Garuda’s control and caused more by the airport’s situation and condition.”

    The problem was discovered just as the plane was about to take off, he said.

    “Considering safety aspects, Garuda Indonesia decided to delay the flight, and after a one-hour repair process, the aircraft was declared serviceable and ready to operate,” Mr Butarbutar said, adding that the incident was the first of its kind for Garuda.

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  • AirAsia X promotes KL-Jeddah route to Indonesians via charter contract

    AirAsia X promotes KL-Jeddah route to Indonesians via charter contract

    AirAsia X Bhd (AAX) has signed an agreement to charter aircraft from sister company PT Indonesia AirAsia (IAA) for 24 return flights between Jakarta and Kuala Lumpur for US$648,000 (RM2.82mil).

    The long-haul, low-cost airline told Bursa Malaysia that the two companies had on Jan 4 signed the charter agreement which summed up to 8,640 seats as a dedicated fly-through connectivity with its current Kuala Lumpur – Jeddah – Kuala Lumpur operations.

    It said the transaction was aimed at promoting the Kuala Lumpur – Jeddah route to Indonesian passengers via the charter and to generate positive returns for AAX.

    “The charter between AAX and IAA shall commence on the date of the agreement and will expire on Feb 29, 2016 or at the end of the extension period as may be agreed by AAX and IAA,” the airline said.

    AirAsia Investment Ltd, a wholly owned subsidiary of AirAsia Bhd, and PT Fersindo each hold 49% and 51% equity interest respectively in IAA. IAA is deemed to be a related party to AAX as AirAsia Bhd’s directors and major shareholders, Datuk Kamarudin Meranun and Tan Sri Tony Fernandes, are also the directors and major shareholders in AirAsia X.

    Last month Indonesia AirAsia launched the inaugural Jakarta-Jeddah flight, which is scheduled to depart twice a week.

    AAX shares closed unchanged at 18 sen on Monday with 6.75 million shares being transacted.

  • Indonesia revising 2018 Asian Games mascot after criticism

    Indonesia revising 2018 Asian Games mascot after criticism

    Indonesia is revising the mascot for the 2018 Asian Games after criticism that the newly unveiled bird-of-paradise looks more like a chicken.

    Gatot Dewa Broto, a senior official at the Ministry of Youth and Sport, said today that the revision should be finalised over the next two to four months.

    The mascot, called Drawa, was launched December 27 and is named after Cendrawasih, the local name of an iconic bird which is only found in Indonesia’s eastern most Papua province, New Guinea, and eastern Australia.

    However, many online critics have said the design makes it look more like a chicken than a bird-of-paradise, while others have said the mascot is out of date or just not suitable for such a major event.

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  • SPH Media Fund invests in Indonesia-based cashback app Snapcart

    SPH Media Fund invests in Indonesia-based cashback app Snapcart

    Snapcart, a mobile app based in Indonesia, announced today (Jan 5) that it has successfully raised US$1,675,000 (S$2,385,000) pre-series A funding.

    Among this round’s participants are Wavemaker Partners, SMDV, Ardent Capital and SPH Media Fund – the investment arm of Singapore’s leading media group Singapore Press Holdings.

    “I believe we were able to earn the confidence of investors after our early signing with major FMCG brands Nestle and L’Oreal in Indonesia,” said Reynazran Royono, CEO and Founder of Snapcart. “Our pre-launch and launch traction was also amazing with 12,000 app downloads before any marketing campaigns were launched. In a relatively short period we were able to sign more than 35 brands, including brands from Procter & Gamble and Unilever”

    According to Snapcart, since its launch on Sept 2, 2015, the number of downloads has grown to over 150,000, with more than 85,000 monthly active users.

    However, the company aims to achieve 1 million users downloads in less than a year.

    Snapcart will use the capital to develop new products; including engagement video features and analytical dashboard tools. These features will accommodate brands with the platform they need in order to see their consumer behaviours in real-time, as well as to aid brands in formulating their next marketing actions.

    The company is also planning an expansion to at least two other markets in Southeast Asia, starting with the Philippines early this year. Snapcart’s iOS version launch will also be taking place at around the same time.

    “Our first stage of development was focused on mass data collection and user acquisition, activation, and engagement. Now, with over a thousand receipts received per day, we are looking to perfecting the built-in automation system and upgrading the app. In Indonesia, there are many different formats for receipts, even within the same retail franchise, which makes it harder to be automated. This is the hassle that we want to tackle in the next stage.” CTO of Snapcart, Laith Abu Rakty, said.

    “User acquisition is always on the agenda, but now we’re doing it by partnering with FMCG companies and other verticals through a combination of offline activities and online marketing.” added Mr Rey.

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  • Matahari Department Store ups stake in MatahariMall.com operator

    Matahari Department Store ups stake in MatahariMall.com operator

    Indonesia public listed retail company PT Matahari Department Store Tbk (LPPF) has increased its ownership in PT Global Ecommerce Indonesia (GEI), which indirectly owns stake in e-commerce player MatahariMall.com.

    GEI is the controlling shareholder of PT Sinar Rekata Earth and PT Lenteng Transcontinental. The two subsidiaries are the principal shareholders of PT Solutions E-commerce Global, which operates MatahariMall.com.

    In a prospectus submitted to the Indonesian Stock Exchange, Matahari Department Store said, it has bought 4.4 million shares of GEI valued at Rp 53.14 billion ($3.88 million).

    LPPF exercised its option to buy the GEI shares at a price of Rp 12,065 per share in accordance with the agreement signed granting option rights on August 15, 2015.

    Prior to the transaction, LPPF’s holding was 2.63 million shares in PT GEI or 1.99%, PT Matahari Putra Prima Tbk (MPPA) 2.63 million shares or 1.99%, PT Duta Wibisana Anjaya 5 million shares, or 3.79%, PT Sinar Mustika Dutamas 10 million shares, or 7.58%, PT Investama Digital Venture 111.65 million shares or 84.64%.

    After the transaction (options were exercised), the ownership of LPPF in PT GEI increased to 5.16%, MPPA at 1.93%, PT Duta Wibisana Anjaya 3.67%, Dutamas Sinar Mustika 7.34% and PT Investama Digital Venture 81.9%.

    In the prospectus, Matahari Department Store said that it carried out the transactions because it considers e-commerce as having high growth potential in the country.

    MatahariMall.com, officially launched its operations in September 2015 to tap Indonesia’s growing online retail space.

    Also Read: Indonesia e-commerce Dealbook : Government mulls five-year roadmap, Mataharimall launches online platform

    Indonesia’s MatahariMall ties up with state postal service for O2O push

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  • DBS Indonesia upbeat, eyes higher loan growth in 2016

    DBS Indonesia upbeat, eyes higher loan growth in 2016

    Private lender Bank DBS Indonesia, part of Singapore’s DBS Group Holdings, expects higher loan growth this year compared to 2015 as it predicts an improvement in the country’s economy.

    DBS Indonesia president director Paulus Sutisna said the bank projected that its loans would grow by 12 percent in 2016, higher than the 10 percent booked as of last year.

    According to its financial report, the bank booked loans of Rp 43.4 trillion (US$3.11 billion) as of September, an increase of 9.87 percent year-on-year (yoy) from Rp 39.5 trillion in the same period of 2015.

    “We are more optimistic about this year because the government is holding early auctions and procurements for its spending on infrastructure projects. Such acceleration will help the country’s economic growth,” Paulus said after an event on Wednesday.

    Paulus said acceleration in government spending would boost the real sector, which in turn would increase demand for bank loans, adding that “our growth will depend on the performance of our clients”.

    Given Indonesia’s large population the bank will focus on sectors related to the mass segment such as retail and consumer goods and some types of manufacturing and infrastructure-supporting industries.

    “We’ll still focus on some commodities, such as palm oil, as well as automotive, chemical and pharmaceutical industries,” he said.

    Paulus said the bank was also planning to enlarge its consumer and retail banking as well as small and medium enterprise (SME) portfolios as it still depended mainly on the corporate segment.

    “Corporate banking is dominant now as our retail business is still under 20 percent of our total lending. We hope to divide evenly our consumer and retail banking, SME and corporate portfolios by one-third each, perhaps in the next five to seven years,” he said.

    The government has forecast that Indonesia’s economic growth will reach 5.3 percent in 2016. The country’s GDP growth stood at 4.73 percent for July to September, a slight increase from the 4.67 percent growth posted in the second quarter and 4.72 percent in the first three months of the year.

    Despite the optimism, Paulus said the bank would remain cautious about various challenges in the global economy that still lingered, such as falls in commodity prices and currency volatility, as they would have an impact on Indonesia.

    Challenges in the global and domestic economy also affected DBS Indonesia’s income as it saw losses of Rp 178.9 billion as of September 2015, compared to net profits of Rp 366 billion in the same period last year. However, the bank’s unaudited financial report in November shows that it already started to post net profits of Rp 23.79 billion.

    Paulus said the bank would also invest in internet banking, which was essential to support a bigger consumer portfolio in the future, especially in fee-based income.

    As part of its efforts to grow fee-based income, the bank has enhanced its existing partnership with life insurer Asuransi Jiwa Manulife Indonesia, part of Canada’s Manulife Financial, through the launch of a new single-premium, unit-linked product MiWealth Protection.

    The new product is designed for DBS customers who wish to grow their wealth in order to be financially secure and enjoy their life in retirement. DBS Indonesia consumer banking group director Wawan Salum said the bank expected 20 percent growth in the number of wealth-management customers this year.

  • Bengkulu exports Layur fish to Japan

    Bengkulu exports Layur fish to Japan

    The fisheries cooperative of the Bengkulu city has started exporting Layur fish (Trichiurus Lepturus) to many countries, such as Japan, Taiwan, China and South Korea.

    Layur fish export was started as the fishing season began in November 2015, the Management of Mutiara Laut Coop, Hermansyah, said here on Wednesday.

    “This Layur fish catch depends on the season which lasts for six months, and the species is not available for the rest of the year,” he said at Pondok Besi fish auction, Bengkulu city.

    This fish is obtained from North Bengkulu, South Bengkulu and Kaur districts.

    Hermansyah could export 100 tons of Layur fish per month through the Bandung city, West Java.

    “We use a cold store built by the government for this auction,” he said.

    The coop buys Layur fish from fishermen at prices ranging between Rp15 thousand and Rp36 thousand per kilogram, depending on the size of the fish.

    The demand of Layur fish caught from the Indian Ocean is high because it if of better quality.

    “There are no certain standards in case of this fish. They always accept every lot of the species we send. The problem is actually of the production being low because many fishermen still use traditional fishing gear,” Hermansyah emphasized.

    Layur fish could easily be identified, owing to its flat and long shape.

    Various kind of Layur fish are found in the Pacific and Atlantic Ocean.

    Many people like it because the meat is chewy, not too fishy, not greasy, and it has easily removable bones.

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  • Ramada Bali Sunset Road Kuta Opens in Indonesia

    Ramada Bali Sunset Road Kuta Opens in Indonesia

    Demonstrating strong and increasing interest in its portfolio of brands in South East Asia, Wyndham Hotel Group has introduced a third hotel in Bali, Ramada Bali Sunset Road Kuta, located in the heart of the vibrant Kuta district.

    Formerly the Best Western Premier Sunset Road, the 271-room property is owned by Sun Motor Group and managed by PT Wyndham Hotel Management, an Indonesian subsidiary of Wyndham Hotel Group. Ideally located close to Jalan Legian and popular Seminyak Beach, the stylish guest rooms feature contemporary décor, while suites boast separate living areas. The well-appointed facilities include a rooftop pool, gymnasium, on-site spa, meeting rooms, business centre and two distinct dining establishments.

    “Bali is one of Indonesia’s most popular destinations, attracting close to four million visitors a year,” said Barry Robinson, President and Managing Director of Wyndham Hotel Group South East Asia and Pacific Rim. “With the 2013 expansion of Ngurah Rai International Airport and this year’s four-fold increase in government spending on tourism, we believe it’s a market prime for year-on-year growth.”

    Wyndham Hotel Group is focused on strategic expansion throughout South East Asia as part of its larger global development strategy—especially as it relates to its Ramada brand. The company believes Ramada Bali Sunset Road will become a landmark hotel for visitors.

    President and Commissioner of Sun Motor Group, Imelda Sundoro said “Ramada is a globally known brand with an enviable reputation for offering exceptional experiences in some of the world’s most sought after destinations. That strong recognition, combined with the expertise and resources of a partner like Wyndham Hotel Group, made Ramada the clear choice for us as we look to grow our hospitality developments in Indonesia.”

    All Ramada hotels in Indonesia participate in Wyndham Rewards®, the simple-to-use, revolutionary loyalty program from Wyndham Hotel Group that offers members a generous points earning structure along with a flat, free-night redemption rate.

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  • Korea’s E-Mart Vietnam launches

    Korea’s E-Mart Vietnam launches

    As a first step in a Southeast Asian rollout, Korean discount store E-Mart has opened its first outlet in Vietnam.

    It goes head-to-head with rival Korean chain, Lotte Mart, which has been in Vietnam since 2011 and now has 11 stores. The E-Mart Vietnam launch follows four years of researching the Vietnamese retail market.

    Run by retail giant Shinsegae, the new two-storey E-Mart hypermarket is worth US$60 million and is on a 3ha site in the busy Go Vap District of Ho Chi Minh City, nearby the airport. It is the brand’s first overseas store since it shifted focus to Southeast Asia in 2011 after a lacklustre foray into China. The company regards the new store as a foothold for expansion throughout Vietnam and into such neighbouring countries as Indonesia, Laos and Myanmar, reports the Korea Herald.

    E-Mart’s Ho Chi Minh City store has been tailored for Vietnamese consumers, and offers several features new for Vietnam. About 95 per cent of the employees (about 300) are Vietnamese, including the manager, and the parking lot has been designed to cater for 1500 motorcycles and 150 cars to reflect the city’s vehicle preferences

    As well as featuring Korean products popular with Vietnamese tourists to Korea, the hypermarket has imported items sourced by its operator. Korean dishes such as kimbap, tongdak and grilled chicken are made in-store, as well as baked goods adapted for Vietnamese tastes. On its shelves customers can also find fast-moving consumer goods, household utensils, electronics, and clothing from about 1000 local suppliers, plus a wide range of Korean and Emart-branded products. About 95 per cent of the goods will be locally made.

    Unusual for stores in Vietnam, the new E-Mart has such concepts as a diversified food court, a children’s sports club, games centre, book store and an English club, plus its flagship customer services include immediate refund and exchange policies and compensation for checkout errors.

    Its mix of food and entertainment is aimed at turning the store into a “happy hypermarket” for Vietnamese consumers, reports VNS. E-Mart Vietnam general director Choi Kwang-Ho says it is hoped these concepts will “sweep the Vietnamese retail market”.

    “After successfully building up a sizeable presence in Ho Chi Minh, we plan to expand into the rest of the country,” he said.

    According to the Korea Herald, E-Mart has already bought land for a second branch. An E-Mart press release says the company plans to open another hypermarket in Hanoi – a first for the capital – and expand the chain to 52 stores across Vietnam by 2020.

    Meanwhile, in co-operation with the Viet Nam National Traffic Safety Committee, E-Mart has donated hundreds of helmets each to seven primary schools in Go Vap. It plans to gift 50,000 quality helmets for primary-school students by 2020.

    E-Mart is the largest retailer in South Korea with 160 stores. Founded in 1993 by department store franchise Shinsegae, E-Mart reported global sales of $13.2 billion last year.

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  • Indonesia to import 600,000 live cows in 2016

    Indonesia to import 600,000 live cows in 2016

    Agriculture Minister Andi Arman Sulaiman said the government will still import live cows in 2016 to meet domestic requirement.

    Andi gave no detail including number of cows to be imported, but he said “we will import breeder cows that could give birth 10-12 times.”

    However, secretary general of the ministry Hary Priyono said the country would import around 600,000 cows in 2016 to meet domestic consumption of 675,000 tons of beef.

    The ministry and the Board of Logistics have only a stock of 416,000 tons , therefore, the country would need to import 600,000 cows equivalent to 236,000 tons, he said.

    He said there are many cow production centers in the country like East Nusa Tenggara, but buyers prefer to imports because of difficult access to the the centers.

    Last month, a new cattle ship began its regular service transporting live cows from East Nusa Tenggara to Jakarta.

    The KM Camara Nusantara arrived in Jakartas Tanjung Priok port last month with 353 live cows, the minister said .

    With the ship, East Nusa Tenggara began its regular shipments of live cows to Jakarta.

    The 353 male Bali cows were ordered by the state run Board of Logistics (Bulog), the minister said, welcoming the first shipment at Tanjung Priok.

    The live cows each weighing 250-350 kilograms, would produce 125 kilograms of meat on the average, the minister said.

    The minister said the plan was that shipments by KM Camara Nusantara would be made twice every month from East Nusa Tenggara bringing around 150,000-200,000 beef cows a year to Jakarta.

    He said the vessel would also brought in beef cows from South Sulawesi, West Nusa Tenggara , East Java and Lampung to Jakarta.

    He said the target is to change the market structure with 80 percent of beef requirement in Jakarta to be locally supplied.

    So far beef market in Jakarta has been dominated by meat of imported cows mainly from Australia.

    The minister said he hoped the operation of the cattle ship would reduce cow transport and distribution costs in the country.

    The government of President Joko Widodo is set to improve efficiency in the distribution of beef cow by using local cattle ships .

    Transport problem has caused the price to soar making it difficult in shipment of live cows from the regions especially East Nusa Tanggara to Jakarta .

    The availability of the special cattle ship would better guarantee market for cows from the breeding centers and supply of beef with a lower prices in consuming regions, the minister said.

    The KM Camara Nusantara 1 has spaces enough for 500 cows with international standard . It will be busy transporting live cows from production centers in East and West Nusa Tenggara and East Java to the Greater Jakarta area , the largest consuming region in the.

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