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Tag: Malaysia

  • HTVFun a Video-On-Demand Service for Malaysia launched using Muvi Studio

    HTVFun a Video-On-Demand Service for Malaysia launched using Muvi Studio

    Malaysian content networkHTV Entertainment has teamed up with Muvi (https://www.studio.muvi.com) to launch its Video-on-Demand (VOD) service HTVFun.com (https://www.htvfun.com), with an offering of a wide range of Movies, Kids content & Animation, TV Shows featuring a wide range of genre like Cooking, Travel, Drama, Entertainment, Documentaries and even a dedicated Japanese Content Channel for the Malaysian audience in particular.

    HTVFun.com is a content delivery platform for the web and “connected devices” using over-the-top (OTT) technology. HTVFun.com licenses digital VOD rights to catalogs from other distributors and independent filmmakers.HTV brings online streaming of worldwide movies and TV shows that entertains, inspire and delight audiences of all ages that they can enjoy anywhere on any devices for free and also subscription based (ad free). HTV will continue to acquire and bring in more variety of contents from around the world by renowned producers and other hard-to-find contents not offered anywhere else to its library.

    Shuffling across a variety of playlists like cooking shows, documentaries, comedy shows, animations and even music videos, HTV Fun is a complete VOD package for every Malaysian who is ready to cut the cord and switch to what analysts are referring to as the future of television, i.e. Video On Demand Streaming.

    With a library spanning across genres and age-groups, HTV Fun is arriving in Malaysia with a promise. A promise of wholesome entertainment at the most affordable prices.

    “It’s been a great pleasure to work with Muvi and team. They know exactly what we need, and do everything possible to make our collaboration easy and pleasant.” says KokYin Wah – Business Owner at HTV Entertainment Limited.

    Muvi (https://www.studio.muvi.com) a New York based Tech Company which has in the past launched VOD Platforms for MAA TV (www.maaflix.com) and ISKCON (www.iskcontelevisionindia.com)usingits end-to-end OTT Video Streaming Platform–Muvi Studio, has helped launched HTV’s on-demand video streaming servicehttps://www.htvfun.comas well, and powers its entire platform from IT Infrastructure likeCloud Hosting, Servers, Storage, CDN,Video CMS, HTML5 Video Player to it’s website end-to-end, and incorporates in-built DRMfor piracy protection of the licensed content that HTV lines up. ­

    “Asia is one of the next big breeding grounds for video streamers. The APAC region in specific is likely to create more customers than many European nations. We look forward to powering these businesses and be a part of the next entertainment revolution.” says Viraj Mehta – Head of International Business at Muvi.

    Muvi Studio works on Platform-as-a-Service (PaaS) model, offering video content owners, broadcasters, TV Channels and Cable Companies an out-of-the-box, end-to-end Multi-Screen Video Streaming / Video-on-Demand Platform using which they can launch their own branded VOD &Video Streaming platformoffering across Web, Mobile, Smart TVs, STBs, Media Boxes and Gaming Consoles in matter of few days and with Zero Upfront Investment!

    Muvi Studio takes care of everything end-to-end, from providing Cloud Based IT Infrastructure, CDN, Unlimited Storage, Server Side Security & Firewall and bandwidth management to HTML5 Video Player with in-build DRM and encryption for enhanced protection against piracy as well as building, managing and hosting of the website and mobile apps, all deployable at a click on a button in matter of days!

    The video streaming industry is abuzz with major production houses, broadcasters, TV networks, cable companies and creative shifting to online video to showcase and monetize their work. The lure of being able to watch TV anywhere, anytime and with any device has caught the fancy of the audiences and the industry alike.

  • OldTown Coffee suffers as Malaysians spend less

    OldTown Coffee suffers as Malaysians spend less

    Malaysian cafe chain OldTown Coffee has reported falling sales and profits as Malaysians continue to get used to life after the imposition of GST on April 1.

    The company, which operates 210 discount coffee shops and sells packaged coffee through FMCG channels, posted a profit of RM9.49 million ($US2.2 million)  in its first quarter, to June 30, 6.8 per cent less quarter on quarter and an unhealthy 18.9 per cent less year on year. Topline sales slumped 10.5 per cent quarter on quarter and 3.9 per cent year on year to RM94.06 million (US$22.3 million).

    OldTown concentrates on the local Malaysian market serving milky coffees and light snacks – it does not make espresso-style coffee drinks like Starbucks.

    The company says its declining fortunes were driven by a downturn in cafe sales, rather than packaged goods: Same store coffee shop profit fell 46.4 per cent year on year.

    The company plans to open 10 new outlets before the end of the current financial year, next March, representing an expansion of about five per cent.

    Sales of packaged foods – mainly instant coffee and coffee mixes – rose 29 per cent.

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  • 11street Grows Local E-Commerce Landscape through Major Participation in MDeC’s #MYCYBERSALE

    11street Grows Local E-Commerce Landscape through Major Participation in MDeC’s #MYCYBERSALE

    11street, one of the largest online marketplaces in Malaysia, today announces its participation in the nation’s biggest cyber sale event, #MYCYBERSALE 2015 (www.mycybersale.my), as part of its commitments to enhance Malaysia’s e-commerce eco-system.

    Organized by Multimedia Development Corporation (MDeC), #MYCYBERSALE 2015 will see thousands of online stores gather from 28 September to 2 October with a common goal to stimulate the domestic e-commerce market. #MYCYBERSALE 2015 mobile app has also been developed to attract more local and foreign consumers to shop online. Extending the shopping period from 3 days to 5 days, this event is expected to surpass last year’s success[1] and to continue boosting the online shopping culture in Malaysia.

    11street’s Vice President of Merchandising Division, Bruce Lim says, “A national online event like this is not to be missed as it would definitely spur online shopping demands in the country. As a leading global e-commerce player, 11street is dedicated to empower our sellers with intensive industry knowledge to meet market demands. We urge local SME sellers to grab the opportunity and join us to be part of this annual cyber sale. As a result, sellers will be able to broaden their market reach and increase by leveraging on our resources and promotions strategically at this event.”

    Expect Shockingly Good Deals and Discount Coupon Giveaways from 11street at #MYCYBERSALE 2015

    To enthuse Malaysian shoppers to buy online, 11street will be lining up a series of discounted products, deals and attractive giveaways for #MYCYBERSALE 2015. Consumers can look forward to irresistible discounts during the event period, of which one of them continues to be the significant lowest price guaranteed ‘Shocking Deal’ to surprise local consumers with great offer.

    Before #MYCYBERSALE 2015 begins, 11street will also be initiating an exclusive promotion for Malaysian consumers to download free shopping credits in Malaysian Ringgit from 14 September to 27 September on a daily basis. This is to offer them a fun shopping experience online, and for those that logon 11street online and mobile platforms for a minimum of 3 consecutive days will be rewarded with up to 50% bonus coupons.

    According to statistics released by MDeC, #MYCyberSALE 2014 saw a total of 4.7 million Malaysian visitors (16% of populations) made 77,000 online orders during the 3-day sales period, of which 57% of them accessed the site via mobile devices.

  • Bad medicine for Eu Yan Sang

    Bad medicine for Eu Yan Sang

    Traditional Chinese medicine retailer Eu Yan Sang lost $3.6 million in its last quarter, blaming weaker sales in Hong Kong and Malaysia.

    Its full year profit to June 30 was down 70 per cent on the previous year at $4.56 million, compared with $15.03 million in 2014.

    Fourth quarter sales dropped 15 per cent; full year sales a less dramatic four per cent to $350.4 million.

    In Malaysia, the company – like many retailers of food and discretionary goods – noticed a sharp decline in trade after the imposition of six per cent GST on April 1.

    In Hong Kong, it was the changing demographic of Mainland Chinese visitors to the territory to blame.

    “While the travel restrictions to Hong Kong imposed on mainland Chinese have affected parallel traders coming to Hong Kong to purchase Eu Yan Sang products, it has encouraged sales of our products at online sales platforms and at cross border, tax free outlets,” the company said in a statement.

    Eu Yan sang operates 252 retail stores and 25 franchised outlets. During the year it opened 13 in Australia, Malaysia and Hong Kong and closed eight in Singapore, China and Macau. A review of its Australian franchised stores saw it drop a new seven outlets.

    The news was not all bad for the Singapore-listed company. In its home market, net sales were up five per cent in the fourth quarter and four per cent over the full year – in an overall retail market best described as stagnant. Managed cited the introduction of new products and consumer marketing campaigns for the improvement.

    The company hopes continuing improvement in Singapore sales will help cushion the impact of the Hong Kong and Malaysia markets in the year ahead.

  • Happy Fresh pilots next hour grocery delivery in Southeast Asia

    Happy Fresh pilots next hour grocery delivery in Southeast Asia

    Groceries delivered to customers’ doorstep in an hour by professional shoppers. This was the promise of online grocery delivery service Happy Fresh when it started last March in Kuala Lumpur and Jakarta.

    Today, the service is available as well in Bangkok and will soon open in Taipei.

    “Our plan is to become Southeast Asia’s leading food marketplace company, and we want to operate in all major, traffic-congested mega cities in the region,” said Markus Bihler, Group CEO and Co-founder of HappyFresh.

    Bihler is optimistic that online grocery delivery in the region is poised for take off.

    “The outlook for the retail industry in Southeast Asia has never been more promising. Opportunities abound in this region with its ever more sophisticated and food-loving consumers, growing populations and steady economies,” he said, adding that Kuala Lumpur and Jakarta, in particular, are very interesting markets.

    “Spending power and credit card penetration are higher in KL than in Jakarta, and in general people are more used to buying things online there. Jakarta, on the other hand, is interesting because we really feel we can solve a huge problem here. We all know about the infrastructure challenges this city faces, and the traffic problems this often leads to,” he explained.

    Happy Fresh believes that with online grocery shopping, it’s one fewer trip customers need to make, which often translates into several hours saved that they can now spend on other activities.

    “In Indonesia, Bihler he said middle and upper-income consumers will continue to drive the growth of modern, online retailers as customers are increasingly quality-conscious, demanding higher levels of service and quality,” Biller said.  “Demand for processed foods and dairy is growing, particularly in urban areas, driven by changing lifestyles as people work longer hours and seek greater convenience.

    Happy Fresh targets to bring the service to the capital cities of Southeast Asia one step at a time.

    Though it does not plan to set up a physical store, it partners with the most established offline grocery retailers in a locality. In-house trained professional shoppers who pick  the best fresh products for customers also provide an advantage.

    Delivery hours are based on the opening hours of its partner stores, which is usually between 10 a.m. and 10 p.m.

    “Our message to our partners is simple: Focus on what you are really good at, which is running grocery stores. Then let us help you bring your brand and your products to an incremental set of customer groups: those one mobile devices, those who would like to order from their home, office or wherever they happen to be, and those who value the convenience of next hour delivery,” he said.

    Happy Fresh also strive to help partners reach customers that are normally outside of their catchment area or would have otherwise ordered a pizza rather than next hour ingredients for home cooking.

    Bihler said they offer ready to use solution to its retail partners at no upfront cost, a  fleet of drivers, and customer service agents. “In short: we help supermarkets grow, reach new customers and move into digital,” he said.

    “The food industry is among those that will always remain a physical, haptic, very sensual core. Yet – as any other – it will see heavy disruption by mobile technologies, ever-changing supply chains and faster lifestyles,” he added.

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  • Leading Tier 1 Operator in Malaysia deploys Elitecore’s Crestel Online Charging Platform

    Leading Tier 1 Operator in Malaysia deploys Elitecore’s Crestel Online Charging Platform

    Elitecore Technologies, a global provider of BSS and Packet Core solutios, announces that a leading Tier 1 Operator in Malaysia has deployed Elitecore’s 3GPP compliant Online Charging System (OCS) for their voice and data services; the solution enables its subscribers to keep track of their account, services and usage in real time. It supports dynamic notifications to customers prior to reaching their credit thresholds and also supports admin action in real time on threshold breach. The solution enables real-time charging of VOIP calls over SIP interface for post-paid subscribers on FTTX network.

    Elitecore’s real time OCS is a modular solution integrated with operator’s existing CRM and Billing systems, without having to go through a transformation of its existing billing system to support next generation services. The entire project was completed in just 3 months. The platform supports features such as single touch Point of Credit Governance for customer, Self Care service interaction in real time with accurate and timely information related to their usage, time/volume based rating, differential rating, advice of charges, shared balances, policy based discounting etc.

    Dhaval Vora, VP, Product Management, Elitecore says, “With our Real Time charging Solution, the operator is well prepared to support the growing demand for data services and benefit from enhanced real-time capabilities for its Data, Voice & Internet Services. Better real-time processing and instant notification of credit balance status enhances user experience and eliminates bill shock scenario.”

    The solution helps operators to add subscriber value through personalized offering, ensures optimum network utilization & greatly increases service usage and ARPU. Moreover, the solution is future ready which can support multiple networks on the same platform.

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  • Parkson’s shares hit 9 ½-year low after sinking into red

    Parkson’s shares hit 9 ½-year low after sinking into red

    Parkson Holdings Bhd’s share price contracted as much as 7.14% to its nine-and-half-year low in the morning trade, making it one of the top losers across the bourse, after the department store operator sank into losses in its latest quarterly results.

    At 2.41pm, Parkson rebounded a little from its intra-day low (RM1.04) to trade at RM1.06, still down six sen or 5.36%, after some 571,800 shares changed hands.

    The current price gives Parkson a market capitalisation of RM1.16 billion.

    In its fourth quarter ended June 30 (4QFY15), Parkson posted a net loss of RM90.95 million or 8.75 sen per share, compared with a net profit of RM26.76 million or 2.56 sen per share last year, largely on weaker retail sentiments.
    This is despite revenue for 4QFY15 rising 5.2% to RM859.04 million, from RM816.51 million last year, mainly due to slightly better figures from China, Vietnam, Myanmar and Indonesia.

    The group’s retailing division registered a weaker set of results for FY15, with revenue increasing only by 4% to RM3.64 billion; while operating profit contracted by 41% to RM190 million, compared with FY14.

    Parkson said its operation in Malaysia saw same-store sales contracting 4.5% for FY15, as consumer sentiments were affected by rising cost of living and the depreciating ringgit.

    For the full year, Parkson’s net profit plunged 69% to RM42.84 million or 4.06 sen per share, against RM138.15 million or 13 sen per share in FY14; while revenue rose 5.4% to RM3.74 billion, against RM3.55 billion last year.

    Despite the lower earnings, Public Investment Bank has upgraded Parkson to ‘outperform’, as it views its weak share price as an opportunity to accumulate, but lowered its target price to RM1.48.

    “We believe the recent slump in share price has deemed Parkson attractive, considering there is still growth in sales and profits going forward, assuming no one-offs incurred,” said the investment bank.

    “We think further weakness in Parkson’s share price is not justified, as the group’s fundamentals remain intact, with more than RM2.7 billion cash and undemanding valuation of 10.6 times and 10 times of financial year 2016 (FY16) and financial year 2017 (FY17) respectively,” it added.

    Additionally, PIVB said the recent announcement of 10 sen per share cash distribution, which will come after its internal reorganisation is completed, is fairly rewarding to shareholders, yielding 8.9% of its current share price

     

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  • Burger King Malaysia, Singapore sold

    Burger King Malaysia, Singapore sold

    Burger King Malaysia and Singapore has a new owner after previous franchisor Ekuinas sold out for US$18 million.

    Ekuiti Nasional Bhd (Ekuinas) has sold the operation to Newscape Capital (Newscape) with the agreement of BK Asiapac Pte Ltd, the master franchisor of the Burger King brand in the Asia Pacific region.

    Newscape is an investment company run by experienced retail operators Chua Tia Guan and Lee Thiam Wah. It successfully acquired the rights to Burger King in the two markets after a previous bid by Brahim’s Holdings Bhd was rejected by BK Asiapac in February.

    Abdul Rahman Ahmad, Ekuinas CEO, said the sale would place the Burger King brand with a franchisee with the financial strength and operational expertise to expand the brand’s operations.

    “This exercise has also enabled Ekuinas to successfully complete the restructuring of its F&B portfolio involving our exit from the Quick Service Restaurant (QSR) segment to fully focus and expand on the core Casual Dining and Beverage segments with brands such as Tony Roma’s, Manhattan Fish Market, New York Steak Shack, Coolblog and San Francisco Coffee,” he said in a statement.

    BK Asiapac president David Shear commended Ekuinas’ four year partnership and said the company looked forward to the opportunities working with Newscape.

  • Challenger Singapore shrugs off retail gloom

    Challenger Singapore shrugs off retail gloom

    Listed IT chain Challenger Singapore plans to open new stores this year as sales increase despite the city’s retail malaise.

    Challenger currently operates 45 stores in Singapore, a flagship megastore, 22 superstores and 22 small format stores. The company says it will continue to expand its retail footprint with three new stores planned for the second half of this year. Some stores which are not performing up to expectation will be downsized or closed when their current leases expire.

    Challenger Technologies, Singapore’s largest retailer of IT products and services, has reported a three per cent increased in second quarter sales to $84.7 million.

    It says sales were buoyed mainly by an increase in trade show activities as well as full-year operations for retail stores opened since the second half of 2014.

    These were partially offset by loss of revenue that resulting from its exit from Malaysia in the first half of last year.

    Net profit jumped 21 per cent to $3.5 million, boosted by reduced rental and operating expenses that resulted from the Malaysia exit.

    CEO Loo Leong Thye said although the company had improved its net profit, the IT retail business in Singapore continues to be challenging due to weak consumer spending power.

    “We also face higher operational costs and difficulty in hiring more staff to serve our customers to an expected level of satisfaction.”

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  • Clarks steps up in Asia

    Clarks steps up in Asia

    British footwear brand Clarks says it sees Asia Pacific growth as a “a key strategic focus” for the company.

    The 190 year old, £1.5 billion business, plans to open 100 stores in the region in the next 12 months.

    “As we celebrate a significant birthday, we are as nimble and entrepreneurial as ever and poised for growth,” said Nancy Huang, president of Clarks Asia Pacific.

    “We see great future potential for further expansion and are excited about the possibilities.”

    Clarks, which operates through retail, wholesale, franchise and online channels has a presence in 130 markets worldwide and has been in Asia for 20 years.

    It has a strong footprint in China with 600 points of sale and hundreds of stores across Asia including the markets of India, Japan, Singapore, Malaysia and Indonesia.

    Huang says Clarks’ strong British heritage and reputation for craftsmanship has widely appealed to Asia’s rising middle class. In recent years, the company has invested heavily in building infrastructure, people resources and capabilities in Asia Pacific to support a rapidly expanding set of markets.

    The company will also invest “heavily” in reinvigorating key existing stores in China, Japan and Singapore.

    C&J Clark Limited, owners of the Clarks brand, the privately owned footwear business, was founded in Street, Somerset in the UK by the Clark family in 1825. Still based in Street, the Clarks Group designs, develops and sells a wide range of footwear and accessories for men, women and children. The Clarks brand is renowned worldwide for quality and style with comfort.

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  • G-Star Raw eyes Malaysia, Vietnam

    G-Star Raw eyes Malaysia, Vietnam

    Fashion denim brand G-Star Raw says it is considering forays into Malaysia and Vietnam after a successful debut in India.

    G-Star recently opened its first Indian store in Mumbai’s Palladium Mall and plans a network of up to 35 stores by 2020 in partnership with local venture Genesis Luxury.

    “India is an emerging powerhouse, and we want to be part of this growth – particularly as the middle class’ capacity to spend on consumer goods, such as clothing, continues to increase,” a spokesperson for the company told Just Style.

    G-Star Raw already has stores in Australia, China, Japan, Singapore, Thailand, Indonesia and the Philippines.

    “We are looking to expand into Malaysia, and potentially Vietnam, in the future,” the spokesperson said in the interview.

    “We believe the G-Star Raw brand has the potential to grow not only in metropolitan cities, but also in these fast emerging ‘smart cities’.”

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  • Uniqlo Malaysia plans seven new stores

    Uniqlo Malaysia plans seven new stores

    Japanese retail giant Fast Retailing is planning to open seven new Uniqlo Malaysia stores.

    Two of the stores are planned for Sabah and Sarawak in eastern Malaysia and will mark the brand’s first foray into the eastern region after establishing a strong network of stores in central Malaysia.

    The seven stores will begin trading between September and November this year.

    Uniqlo said they will be located in the Klang Valley (The Curve), Perak (Aeon Klebang), Kedah (Aman Sentral), Sabah (Imago KK Times Square and Suria Sabah) and Sarawak (The Spring Mall and Vivacity Megamall).

    “The new store openings mark Uniqlo Malaysia’s first entry into East Malaysia, as it looks to provide more Malaysians with high quality, comfortable and stylish clothing at affordable prices,” the company said in a statement.

    Uniqlo Malaysia currently has 25 stores located within the Klang Valley, Johor, Malacca, Pahang and Penang.

    “We are excited with the upcoming new store openings, as it means more Malaysians will be able to purchase and experience our product offerings,” said Uniqlo Malaysia’s co-COO Jocelyn Ng.

    “We remain committed to provide the best shopping experience and make our innovative products, such as Airism and Heattech, more accessible to the communities in these locations.”

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  • Malaysian online shopping habits evolve

    Malaysian online shopping habits evolve

    More men are shopping online in Malaysia than ever before. And nearly half of the nation’s online shoppers are doing so on mobile devices.

    Those are two of the key findings of online marketplace 11street’s Online Shopping Index for 2015.

    The split between men and women in the nation’s online shopping community is now 48:52, according to the study based on the four week  Ramadhan and Raya period from June 22 to July 19.

    11street said gross merchandise value (GMV) more than doubled during the Ramadhan and Raya period and in just a few months, 11street has achieved various milestones including a rank of 40 on Alexa

    Hoseok Kim, 11street CEO, says Malaysia is one of the top leading countries in the world when it comes to smartphone Internet access with the number of connected devices per person used by Malaysians which stood at 1.2 devices.

    “As online shopping becomes part of the Malaysian lifestyle, smartphones will play a vital role in enabling shoppers to grab good products and offers online at anytime, anywhere,” said Kim.

    The 11street Online Shopping Index shows that contrary to the popular belief that fashion and electronics are the most sought after categories, Malaysians shop in diverse categories including health & beauty, kids & baby, home & living, grocery, services such as e-vouchers and more. Also, popular items that customers mostly searched during Ramadhan include baby car seats, Tupperware, Bluetooth earphones, and skincare.

    The index found that customers bought from either two or more product categories within a single transaction and that is expected to increase over the next few years.

    By gender, women mostly purchased mobile, tablets, beauty, health and personal products as well as baby and kids items. Men shopped for electronics, sports and leisure items – and kids & baby, especially gear such as baby car seats.

    11street currently carries more than 700,000 products making it one of the largest online marketplaces in Malaysia.

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  • Chinese shoppers feel safer online

    Consumers across Southeast Asia and Greater China feel safer paying in a brick and mortar environment as opposed to online; sole exception is China

    According to the inaugural MasterCard Safety and Security Index, consumers across Southeast Asia and Greater China cited identity theft and ATM-related fraud as the top two security concerns when it comes to electronic payments.

    Some 42 per cent of consumers in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore Thailand, and Vietnam) were most concerned with ATM-related fraud such as a stolen card, card cloning or skimming. In the Greater China markets (China, Hong Kong and Taiwan), this figure was 31 per cent.

    But the biggest surprise was in confidence in shopping online. The Index showed that in general, consumers across Southeast Asia, and the markets of Taiwan and Hong Kong still feel safer paying in a bricks and mortar environment than buying online. China differed, being the only market where consumers felt paying online was safer than in a physical store; even more so than in Singapore.

    Almost every consumer polled in the Greater China markets had made an online payment in the past year. Consumers in China (62 per cent) particularly favored the use of digital wallets in online electronic payments over those in Hong Kong (14 per cent) and Taiwan (29 per cent).

    Consumers across Southeast Asia (35 per cent) and Greater China (32 per cent) were almost as equally concerned about identity theft in relation to data breaches. This includes personal data such as bank details, personal IDs, addresses, and signatures that are stolen or compromised through websites. In both regions however, it appears that these concerns do not directly stem from consumers’ own personal experiences but rather, as a result of the perceived severity of fraud based on what was reported in the media.

    MasterCard chart1

    Meanwhile, the Index also reinforced that banks continue to play a critical role in ensuring payment safety and security for consumers in Southeast Asia. This is both, because of the high levels of trust consumers place in banks as well as the reliance that consumers have on banks to help them resolve issues that crop up in this area.  Banks are often the first line of defense and recourse for the affected consumer – nearly half of all consumers in Southeast Asia who experienced ATM fraud first approached their card-issuing banks for advice.

    “The fact that most cardholders have a primary relationship with their banks, has an obvious and deep-rooted correlation to their sentiment, around who they trust most when it comes to ensuring the safety and security of electronic payments,” said Ari Sarker, oo-president, Asia/Pacific, with MasterCard.

    “This was emphatically reflected in the feedback from all the markets in Southeast Asia and Greater China. However, in Singapore in particular, in addition to banks, consumers also placed significant trust in the government, which is a natural outcome given the country’s strong regulatory environment and overall reputation around safety and security.”

    None of the respondents surveyed in Southeast Asia placed any trust in local websites, suggesting that there is still a lot of work to be done by local eCommerce merchants to ensure that they meet global security standards for payments and build consumer confidence on this front.

    In Greater China, aside from banks and governments, merchants were also seen to have a growing responsibility in ensuring payment safety and security, with 28 per cent of consumers in these markets going to merchants as their first recourse in seeking resolution for payment safety and security issues. Furthermore, merchants in these markets were instrumental in solving 40 per cent of all online electronic payment disputes.

    These and other key findings of the MasterCard Safety and Security Index will be discussed at the MasterCard Global Risk Leadership conference in Singapore on August 26 – 27. The 20th edition of this conference will gather global payment risk leaders to share best practices in fighting fraud together, as an industry. The conference demonstrates MasterCard’s commitment in helping partners and customers fight fraud using the latest tools, processes, and technologies so there is no one weak link in the payments ecosystem.

    The survey was carried out across in six markets in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) as well as three markets in Greater China (China, Hong Kong, and Taiwan). A total of 6600 consumers and 100 merchants were polled online and face-to-face between January and May 2015 on questions relating to the payments security landscape, payments in brick and mortar and online, safety and security payment concerns and experience with payment fraud, among others.

  • RedMart Singapore raises $26.7m

    RedMart Singapore raises $26.7m

    Singapore online grocer RedMart has raised more capital and appointed a former Amazon executive to drive regional expansion.

    RedMart Singapore has previously indicated an interest in expanding into Vietnam, Thailand, Manila, Hong Kong, Indonesia, Malaysia and Taiwan – but it has not disclosed which markets it sees as a priority with its newly secured funds.

    RedMart has secured US$26.7 million in a round of funding tapping existing shareholders Garena, Softbank Ventures Korea, Visionnaire Ventures and Facebook co-founder Eduardo Saverin. It has also attracted a new investor – Far East Ventures, part of Singapore property developer Far East Organization which is diversifying its investment portfolio eyeing startups and tech ventures.

    The funds will be used to expand into regional markets outside Singapore, a move to be led by new recruit Colin Bryar, a former VP of US eCommerce giant Amazon.

    RedMart Singapore increased sales to US$9.43 million in 2014, but massive investment in infrastructure saw its losses balloon to $29.4 million – a not uncommon scenario of eCommerce startups.

    Bryan will oversee engineering, marketing and operations, taken over from co-founder Vikram Rupani, who takes on the title of President of RedMart.