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Tag: Industries

  • Singapore’s Retail Sector Sees Robust Growth In July, Led By Tech Industry

    Singapore’s Retail Sector Sees Robust Growth In July, Led By Tech Industry

    In July, the retail sector in Singapore displayed promising growth, with most categories reporting an uptick in sales.

    July’s Retail Sales Growth

    Singapore’s retail industry experienced an impressive 4.1% increase in July, a significant improvement over June’s modest 0.5% rise, when motor vehicle sales are excluded from the total. The total estimated retail sales value for the month was SG$3.6 billion (US$2.8 billion), with online sales accounting for 15.5% of this figure.

    On a seasonally adjusted basis, July’s retail sales figures represented a 3.8% increase from the previous month.

    Industries Contributing to Retail Growth

    The majority of industries within the retail trade sector contributed to July’s growth. The most substantial improvement was observed in the computer and telecommunications equipment industry, which reported a year-on-year increase in sales of 11.1%.

    Sales in the watches and jewellery sector, as well as supermarkets and hypermarkets, rose by 9.6%. Department stores, cosmetics, recreational goods, along with optical goods and books, also experienced sales uplifts, ranging between 4.1% and 8.6%.

    However, not all industries enjoyed a rise in sales. Food and alcohol, apparel and footwear, and petrol service stations saw declines in sales of between 2% and 5.6%.

    Growth in Food and Beverage Services

    The food and beverage services sector also registered growth in July. This sector saw a rise of 1.7% in sales, an improvement over the flat growth reported in June. The total sales value of F&B services was approximately SG$1 billion, with online sales representing 25.9% of this figure.

    Questions & Answers

    Which retail sector experienced the most substantial growth in July?
    The computer and telecommunications equipment industry reported the most significant growth, with sales up 11.1% year-on-year.

    Did all retail sectors in Singapore experience growth in July?
    No, the food and alcohol, apparel and footwear, and petrol service stations sectors saw a decline in sales.

    How did the food and beverage services sector perform in July?
    The food and beverage services sector saw a 1.7% rise in sales, compared to flat growth in June. Online sales made up 25.9% of the total sales in this sector.

  • 70 companies honoured at Hong Kong Awards for Industries

    70 companies honoured at Hong Kong Awards for Industries

    Seventy companies were honoured today (December 13) at the 2016 Hong Kong Awards for Industries (HKAI) presentation ceremony, at which the Chief Executive, Mr C Y Leung, officiated.

    The Grand Award winners were WowWee Group Limited (consumer product design), the Hong Kong Research Institute of Textiles and Apparel (equipment and machinery design), Sidefame Limited – Anteprima Wirebag (customer service), Gammon Construction Limited (innovation and creativity), Chow Tai Fook Jewellery Group Limited (productivity and quality), Comba Telecom Systems Holdings Limited (technological achievement) and Sinomax Group Limited (upgrading and transformation).

    A total of 234 entries were received at the 2016 HKAI. The winners were decided by the final judging panels chaired by Professor Joseph Sung.

    The HKAI was launched in 2005 by merging the former Hong Kong Awards for Industry and the former Hong Kong Awards for Services, established in 1989 and 1997 respectively. The HKAI aims to recognise the outstanding achievements of Hong Kong enterprises in pursuit of high technology and high value-added activities, and to commend excellence in various aspects of their performance.

    The 2016 HKAI covered seven categories, namely the consumer product design category organised by the Federation of Hong Kong Industries; the equipment and machinery design category organised by the Chinese Manufacturers’ Association of Hong Kong; the customer service category organised by the Hong Kong Retail Management Association; the innovation and creativity category organised by the Hong Kong General Chamber of Commerce; the productivity and quality category organised by the Hong Kong Productivity Council; the technological achievement category organised by the Hong Kong Science and Technology Parks Corporation, and the upgrading and transformation category organised by the Hong Kong Young Industrialists Council.

    The 2016 HKAI media partners were Hong Kong Economic Times and Metro Finance.

     

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  • Creative Industries Contribute to Economic Growth

    Creative Industries Contribute to Economic Growth

    Indonesia`s creative industry is considered to have the potentials to contribute to national economic growth, according to  Head of Research and Industry Development of Industry Ministry Haris Munandar.

    “Currently, the contribution of t creative industries is still relatively small, which is 7 percent of the national industrial growth of 18-20 per cent, but they have great potentials,” Haris said in Jakarta, Friday, October 14, 2016.

    Haris added that the potential can be seen from the various opportunities to develop creative industries in Indonesia, among them an increasing number of middle class Indonesia as potential consumers of creative products.

    “In recent years, the middle class is growing rapidly. This becomes a great opportunity,” said Haris.

    In addition, socio-cultural diversity and natural resources of Indonesia can inspire creative industries to continue to innovate.

  • Industries to enjoy lower gas prices in 2017

    Industries to enjoy lower gas prices in 2017

    More industries will enjoy lower gas prices by the beginning of next year as the government rushes to find a solution to cost issues.

    President Joko “Jokowi” Widodo has demanded that his Cabinet take concrete steps by the end of November to enable gas prices to fall below US$6 per million British thermal units (mmbtu) for 10 industrial sectors and one industrial zone starting in January next year.

    Currently, only seven industries enjoy the lower gas prices, but the government plans to add pulp and paper, food and beverages, and textiles to the list.

    Indonesia’s gas prices are around $9 per mmbtu, higher than most of its Southeast Asian neighbors. Both Malaysia and Singapore, for example, sell gas at around $4 per mmbtu.

    “I calculated it the other day and found that a figure between $5 and $6 [per mmbtu] is possible. Simplify and cut down the supply chain, so that it will be more efficient,” Jokowi said before a closed-door meeting.

    “This will affect the gas sector’s investment climate. Gas prices must remain enticing for investors to continue investing in our upstream sector, which will support the development of infrastructure, transmission and distribution.”

    The government has been trying to lower gas prices for some time to boost income tax through improved industrial productivity.

    High prices have forced many factories in North Sumatra to close down and as many as 20,000 workers have been laid off since 2000, data from the Association of Gas-Consuming Companies (Apigas) shows.

    Industry Minister Airlangga Hartarto said the economic benefit of lower gas prices could reach Rp 31 trillion ($2.39 billion) if prices were cut to $4 per mmbtu, with an additional distribution cost of $1.50 to $2. He added that the 10 industrial sectors contributed around Rp 1,200 trillion, or 10 percent, of gross domestic product (GDP). The gas price cut is expected to increase their contribution to GDP as costs fall.

    The Energy and Mineral Resources Ministry previously issued a regulation that allows companies to obtain an additional price cut of $2 per mmbtu from the minister if gas prices climb higher than $6 per mmbtu.

    However, the regulation only applies to seven industries. Wider coverage for other industries is deemed essential as they expect to use more gas for production in the coming decade. The fertilizer and petrochemical industries use the most natural gas, as it is an essential component of their end products.

    The fertilizer industry used 791.22 million standard cubic feet per day (mmscfd) of natural gas by the end of last year and is projected to need around 1,028.22 mmscfd in 2020.

    Meanwhile, the petrochemical industry used 295 mmscfd in 2015 and is expected to increase its usage to 708 mmscfd in 2020.

    State-owned fertilizer producer Pupuk Indonesia president director Aas Asikin Idat expressed hope that gas prices nationwide could be cut to $3 to $4 per mmbtu from the current price range of $6.50 to $8.50.

    “Any price cuts will be extremely helpful because it is difficult to compete now with the current prices.”

    Aas said that under the current pricing scheme, the production cost difference between Pupuk Indonesia and producers in the US and China could reach $50 per ton. Pupuk Indonesia’s production cost hovers at around $240 per ton at present.

    Separately, state-owned oil and gas firm Pertamina’s executive director Dwi Soetjipto said lowering gas prices in Indonesia even further would be difficult because of geological and cost-related issues. “Indonesia’s gas reserves can be found in small pockets that are found scattered around the country, unlike other countries in the Middle East that have large reserves in one location. This means the transportation per volume cost is higher,” he said.

    “Moreover, the use of high-tech equipment will need more capital expenditure as well.”

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