Retail News CRM

Tag: Malaysia

  • Manpower issues harm Sasa Singapore

    Manpower issues harm Sasa Singapore

    Sasa Singapore says government restrictions on staff hiring are adversely affecting its business in the city state.

    As a result, the company plans to rationalise its store network and exit some leases early.

    The Hong Kong-headquarter retailer says that during the year to March 31, turnover in Singapore decreased by 2.6 per cent in local currency to HK$243.7 million. Same store sales dropped by 5.9 per cent in local currency.

    “The challenge of filling vacancies for frontline staff and Singapore’s acute manpower constraints adversely affected our store productivity,” the company said in its stock exchange filing in Hong Kong.

    “Moreover, persistent high rental costs and dilution of sales due to the excessive increase in overall Singapore retail space contributed to the losses.”

    In the year ahead, Sasa says it will close inefficient stores, and open stores in new malls with good potential.

    “To cope with the persistent constraints in manpower, we will enhance staff product knowledge and monitor staff productivity. The group will also work on staff retention to minimise the loss of experienced sales staff and convert more job scopes into automation so that employees can concentrate on analytical and quality enhancement.”

    Sasa says its Singapore sales decline was mainly due to slower domestic income growth, resulting in weaker retail sentiment.

    “Tourism was also affected by the tragedy of the missing Malaysian Airlines passenger plane, with the top two tourist originating countries of Indonesia and China both seeing shrinkage in arrivals during the year.”

    In Malaysia, turnover increased 6.1 per cent in local currency to HK$340.3 million. Same store sales decreased 0.2 per cent.

    “Our retail sales and profit growth were impacted by changes in the management team, which adversely affected store productivity and our performance during the transitional period,” the company said.

    Malaysia sales were also affected by the Malaysian Airlines tragedy, resulting in a drop in tourism numbers.

    “We continued to expand our store network to provide enhanced service to our customers and to increase our competitiveness.”

    In Taiwan, Sasa’s turnover grew 5.7 per cent in local currency to HK$289.2 million. Same store sales grew by 1.6 per cent.

    “Sales were boosted by the enhanced house brand product mix and introduction of lower priced products and promotions, which drove traffic and sales through cross-selling. Our strategic store expansion plan began to bear fruit and we were able to capture the growth potential of increasing numbers of Mainland Chinese visitors,” the company reported.

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  • 320 Under Singapore expands into Malaysia

    320 Under Singapore expands into Malaysia

    Singapore nitro ice cream cafe 320 Under has opened its first worldwide retailer, in Kuala Lumpur’s 1 Utama purchasing centre.

    320 Under has three cafes working in Singapore – in Geylang, Tampines and Tanjong Katong Rd.

    The idea makes use of liquid nitrogen to create recent ice cream, sorbet and yogurt desserts to buyer order, mixing theatre and flavour into an experiential eating vacation spot. The top product is described as “clean and freezing chilly till the final chew”.

    The 320 Under retailer is situated on the primary flooring of the enormous 1 Utama complicated in Petaling Jaya, Selangor.

    The operators say buyer response to the brand new idea has been “overwhelming” with the model’s signature Thai coconut ice cream bought out on Saturday and Sunday, its first weekend of buying and selling.

  • 11street Reveals Online Search for Baby Car Seats Spike as ‘Balik kampung’ Exodus Approaches

    11street Reveals Online Search for Baby Car Seats Spike as ‘Balik kampung’ Exodus Approaches

    11street (www.11street.my), one of the largest online marketplaces in Malaysia, recently analysed trending products on their website last week which interestingly reveals a whopping 81 percent increase in searches for baby car seats – a positive sign of rising awareness of child passenger safety across the country while everyone gets ready to embark on long car journeys home for the Raya holidays.

    The trend among parents surfing on 11street goes in line with the recent urge expressed by Malaysian Consumers Association to enforce car seats for carrying infants and children in vehicles.

    11street’s Chief Executive Officer, Hoseok Kim points out that while child car seats has yet to be made mandatory by the local government, the rise of car seat searc indicate parents are becoming more savvy about road safety, especially for long journeys which is a positive step.

    Car accidents on the rise

    According to statistics revealed by Bukit Aman’s Traffic Branch, there has been a 5.5 percent increase in car accidents in 2014 as compared to 2013. Total car crashes last year amounted to an appalling figure of nearly 60 000 cases. In the event of a vehicle crash, car seat use have been found to significantly reduce the risk of a child’s death.

    Kim says, “Parents are increasingly concerned about the safety of their young children. It should come as no surprise that parents search for car seats at online marketplace such as 11street because it is one of the most conducive platforms where people can research for vast product information. At 11street, we stock car seats that offer protection in the event of collision, and ensure your little ones are comfortable  throughout the journey.”

    Taking your family safety in your own hands

    At the same time, using mobile phones and other portable devices while behind the wheel has emerged as a recent trend posing a tremendous risk of car accidents. The sobering statistics on the number car accidents should also prompt vehicle owners to go even further while equipping their cars for this year’s ‘balik kampung’ and ensuring the safety of all passengers.

    Kim ends, “Apart from baby car seats, we also begin to see increased search for Bluetooth earphones over the last week by at least two-fold. Hands-free devices should be a priority as well since it enables drivers to make calls safely with minimal disruption. At 11street, we offer a wide selection of safety boosting car accessories at affordable prices including Bluetooth stereo receivers, anti-sleep alarms and many more.”

    Data also shown that with the upcoming festivities, other indispensable items such as powerbanks and travel bags have gained in popularity. This indicates that Malaysians are already starting to prepare for Raya to ensure that they can enjoy endless entrainment on the go and easily carry their belongings for their ‘balik kampung’ journey.

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  • Sa Sa gross sales up, revenue trimmed

    Sa Sa gross sales up, revenue trimmed

    Hong Kong-based magnificence merchandise retailer Sa Sa has elevated gross sales regardless of the home market challenges.

    The group’s complete turnover elevated by 2.7 per cent from HK$eight.756 billion to HK$eight.993 billion within the yr to March 31.

    Retail gross sales in Hong Kong and Macau elevated by three.three per cent to HK$7.259 billion. However revenue slipped 10.three per cent to HK$838.eight million.

    The high-profile chain added a internet seven shops through the yr taking its community to 287, including only one in Hong Kong.

    In a telling signal of the problem dealing with Hong Kong retailers, because the demographic profile of Mainland Chinese language guests modifications, the variety of transactions in Hong Kong and Macau shops rose by 6.eight per cent, however the common ticket worth fell three.three per cent.

    “To put these figures in context, the variety of transactions of Mainland China vacationers elevated by 17.four per cent, whereas common gross sales worth per ticket decreased by 11.three per cent,” Sa Sa stated in its annual outcome.

    “The variety of transactions by native shoppers declined barely by 2.four per cent with a mean spending improve of four.three per cent. Briefly, gross sales progress for as soon as lagged behind the market.”

    In 2014, Mainland vacationer arrivals rose by a gentle 16 per cent. Similar day customer arrivals have been nonetheless the main engine of progress with a rise of 19.1 per cent, elevating gross sales in non-tourist areas, notably within the New Territories close to the border with the remainder of China.

    “Nevertheless, this was offset by an 11.three per cent drop within the common ticket gross sales of Mainland vacationer clients, which in flip was attributable to the weaker buying energy of vacationers originating from decrease tier cities and having much less spending functionality. One other issue was the growing demand for lower cost level merchandise, similar to Korean merchandise, which nonetheless diluted gross sales progress though driving retailer visitors.”

    Sa Sa stated, as well as, there was a better gross sales combine from day trippers whose spending is usually decrease than in a single day vacationers.

    “The change in consumption patterns was additional exacerbated by the rise of cross border eCommerce, which facilitated a lot quicker market penetration of cheaper and quick to market Korean merchandise with ideas which might be nicely appreciated by Asians, and particularly the more and more prosperous Chinese language shoppers.”

    Whereas Sa Sa reported 10.2 per cent retail gross sales progress within the first half of the fiscal yr, gross sales have been dragged by weaker shopper sentiment within the second half. Gross sales progress slowed within the third quarter and additional deteriorated within the fourth quarter with March 2015 being particularly weak due to anti-parallel items merchants incidents in residential areas, turning an in any other case constructive January to February two months’ interval into destructive territory for the fourth quarter.

    “As well as, the appreciation of the US greenback and the relative power of the Renminbi and Hong

    Kong greenback inspired extra Mainland vacationers to journey to markets with weaker currencies resembling Europe and South Korea. The relief of visa insurance policies by different nations strengthened their

    attractiveness to Mainland vacationers, whereas robust outbound travelling led to weaker native spending.”

    Sa Sa stated the Occupy Motion and anti-parallel items merchants incidents in Hong Kong broken Hong Kong’s profile and discouraged vacationers whereas additionally inflicting a drop in gross sales to native clients.

    Sa Sa’s general gross revenue margin dropped from 46.6 per cent to 44.eight per cent resulting from extra promotions being launched to drive gross sales in a slower market.

  • Malaysian pet store launches web site with a twist

    Malaysian pet store launches web site with a twist

    Malaysian pet store Pets My Coronary heart has launched on-line utilizing a singular subscription-based retail mannequin.

    In contrast to most different pet outlets in Malaysia, Pets My Coronary heart will supply merchandise for cats and canine on subscription: clients signal as much as obtain common month-to-month provides.

    The store boasts of a giant stock comprising of pet meals, toys, and totally different different pet care merchandise.

    Pets My Coronary heart will ship present bins containing rigorously chosen snacks and toys to their clients on a month-to-month foundation. Every of those present packing containers will comprise of various mixtures of 4 to 6 snacks and toys. In a given month, it might be three kinds of canine meals and three toys or 4 toys and two snacks, or some other mixture.

    Buyers will even get monetary savings as a result of the corporate will promote their present packing containers at a fraction of the entire worth of the identical gadgets purchased individually.

    Pets My Coronary heart claims that the field they promote for RM 69 per thirty days (US$18) might value properly over RM 120 (US$32) if the identical gadgets have been bought individually.

    To assist clients save their time desirous about the gadgets they will purchase to pamper their pets, Pets My Coronary heart rigorously selects every of the gadgets within the packing containers. By signing up as soon as, a pet lover can proceed receiving present bins for subsequent months.

    Pets My Coronary heart is the brainchild of Lam Woon Cherk, an skilled IT skilled with expertise in operating eCommerce shops, who teamed up with a number of like-minded entrepreneurs.

    “As pet house owners ourselves, we all know how exhausting it’s to maintain our pets pleased, on finances. With our subscription-based on-line pet retailer, we need to constantly assist pet house owners convey surprises to their pets, with out them spending a fortune and scratching their heads. Every month, we’ll rigorously choose a unique mixture of snacks and toys, and ship the present bins on to the purchasers’ doorsteps.”

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  • Malaysia successful in launching the first Intel Atom x3 powered Smartphone

    Malaysia successful in launching the first Intel Atom x3 powered Smartphone

    A new cell phone was uncovered by SNS Company in Malaysia powered by an Intel Atom x3 “S0FIA” chipset. JOI Phone 5, is a mid range cell phone with dual SIM abilities which will be available through GLOO’s retail company in Malaysia. The device is powered by a 64-bit dual-core Intel Atom X3-C3130 chipset packaged with Mali-400MP2 GPU .
    The cell phone has an internal memory of 8GB along with just 1GB of RAM. It runs on Android 4.4 KitKat and has a design somewhat similar to Asus Zenfone 2, which was released a bit earlier. JOI Phone 5 brandishes a 5-inch 720p IPS LCD show with an 8MegaPixel camera on the back while the front camera is 2MegaPixel.

    Connectivity options are plenty with Wi-Fi 802.11 b/g/n, Bluetooth 4.0 as integration alternatives and has a battery capacity of 2,100mAH. The JOI Phone 5 will hit the businesses with a starting sticker of 399 Malaysian Ringgit which is around $106. JOI 7 lite phablet was also revealed and highlights a 7-inch IPS show (1024×600 pixels) and runs on an Intel Atom X3 chipset combined with 1GB RAM and 8GB interior memory.

    The JOI 7 lite phablet will be available at a cost of 299 Malaysian Ringgit, which equals to $79, and will run on Android 4.4 KitKat. The phablet highlights a 2MegaPixel camera at the back while a VGA camera on the front and has Wi-Fi, GPS, and Bluetooth 4.0 as integration alternatives.

    Although JOI 7lite is getting sweeping publicity, but it is not the first tablet of its kind, A Chinese Telecast X70 3G tablet with phone calling support was the first Atom x3 tablet with a cheap price tag of $70.

  • 7-Eleven Malaysia strikes upmarket

    7-Eleven Malaysia strikes upmarket

    Listed retailer 7-Eleven Malaysia says it is going to open 200 new shops across the nation this yr – and refurbish 200 extra. A 3rd of these might be within the Klang Valley, the guts of larger Kuala Lumpur.

    The enlargement and rejuvenation, estimated to value as much as RM90 million (US$24 million) is a part of a transfer upmarket because it seeks to distinguish the corporate from rival comfort retailer codecs.

    CEO Gary Brown says the corporate needs to create a extra inviting, heat surroundings in-store to draw extra clients.

    Newer shops opened in Malaysia function espresso, meals to organize onsite, tables and chairs, vibrant fitouts and a extra spacious surroundings.

    “We now have additionally included extra recent meals, use light-emitting diode lighting at our shops that are energy-saving in addition to organise on-going strategic promotions,” he informed a press convention after the corporate’s annual assembly this week.

    7-Eleven Malaysia has about 80 per cent of the Malaysian comfort retailer market, however is dealing with growing competitors from new native manufacturers.

    Its in depth retailer community positions itself as a possible supply service level for on-line retailers and courier companies. Brown says talks are underway to determine such ventures as one other supply of revenue for the enterprise – and as a drawcard for patrons who may purchase merchandise when accumulating or making deliveries.

    “As soon as concluded, the pilot undertaking is predicted to function by the fourth quarter of this yr at chosen shops,” he stated, with out disclosing additional particulars.

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  • Buffalo Wild Wings critical about Asia

    Buffalo Wild Wings critical about Asia

    US informal eating chain Buffalo Wild Wings is within the means of securing grasp franchisees in at the very least six extra Asian nations as its first foray into the area pays off.

    In January BWW opened its first restaurant within the continent, in Manila, in partnership with Philippines grasp franchisee The Bistro Group. That restaurant, in Estancia Mall at Capitol Commons in Pasig Metropolis, proved so profitable inside its first few months two extra websites are beneath improvement already because the rollout plan is accelerated. These eating places will open in Glorietta and Uptown Mall.

    Buffalo Wild Wings CEO, Sally Smith informed Inside Retail Asia in an interview the corporate will probably be signing a grasp franchise settlement in Vietnam in a fortnight with the primary BWW outlet scheduled to open there someday subsequent yr.

    A separate franchise settlement has been concluded for a area in India with the primary restaurant there more likely to be buying and selling inside as little as six months.

    Smith was in Hong Kong this week for talks with suppliers and potential companions and advised Inside Retail Asia the corporate is already speaking with potential companions in Singapore, Malaysia, Thailand and Indonesia. She has additionally been taking a primary hand take a look at the Hong Kong eating scene with a view to contemplating enlargement there, too.

    However she gained’t be dashing into any of those markets.

    “One of many issues that’s necessary to us is discovering the fitting associate, so we’re going to take our time. We need to ensure that our associate understands our enterprise, that they perceive our model and that they share the identical values as we do.

    “Once we choose a companion, they go to us within the US, they practice within the US they usually go to a lot of shops in order that they see how we function – that’s all earlier than they turn out to be a associate.

    “We’re in search of nice franchise companions,” stated Smith. Not simply anybody with a cheque guide.

    Native challenges

    Smith says when getting into a brand new market, BWW understands the necessity to tailor its menu and pricing factors accordingly. Concentrating on locals relatively than expats or vacationers, Smith says the model is lifelike and trusts its franchise companion to work with it on each fronts.

    In Manila, probably the closest Asian market when it comes to dietary habits to North America, BWW has added rice to its menu and it’s contemplating a steak sandwich to satisfy native demand.

    “We definitely work to think about native flavours locals are in search of. However others nonetheless need that genuine Buffalo Wild Wings expertise,” Smith stated.

    In Vietnam, the place the ‘center class’ by definition is on an revenue as little as US$500 a month, BWW is about for an extended, affected person progress cycle.

    “I used to be in Vietnam final yr and I used to be very excited. The overall inhabitants is rising and there’s some nice information on the financial entrance. However we’ll take our time constructing out Vietnam and we’ll attempt to not overbuild.”

    Smith says the franchise companion there’s already evaluating actual property choices.

    A key think about BWW’s portability into new markets is that hen is an accepted a part of the weight-reduction plan in most elements of the world – and sport captures the eye too.

    A key element of the BWW idea is stay sport, with giant screens within the eating places encouraging dwell time. Within the US and the Philippines, American Soccer, basketball and ice hockey are staples on the sports activities menu; in Southeast Asia it is going to be English Premier League. Smith stated in the course of the Superbowl remaining early this yr the Manila restaurant opened early and queues shaped of locals eager to eat and benefit from the match.

    The corporate can also be testing know-how options that may allow clients in its eating places to take part in on-line social gaming, enjoying towards clients of different eating places in the identical nation.

    Buffalo Wild Wings already boasts 1094 eating places serving 21 signature flavors of Buffalo, New York-style hen wings. Its foray into the Philippines was its first step outdoors the Americas.

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  • 11Street takes KWC Trend on-line

    11Street takes KWC Trend on-line

    KWC Fashion mall has grow to be Malaysia’s first wholesale bodily mall to go surfing, after partnering with eCommerce newcomer 11street.

    11Street , already one of many largest on-line marketplaces in Malaysia, and KWC Fashion mall, certainly one of Kuala Lumpur’s excessive profile retail vacationer locations, have signed a memorandum of understanding to embark on 11street’s quick rising market portal to supply wholesale buying on-line.

    Merchandise from KWC Fashion mall’s tenants at the moment are stay on 11street, with reductions of as much as 70 per cent and free delivery on greater than 2000 chosen trend gadgets.

    “The partnership between 11street and KWC is critical as a result of this additional reinforces our ongoing dedication to increase our vary of merchandise and to supply one of the best selection to shoppers,” stated Hoseok Kim, 11street CEO.

    “Including a wholesale mall will definitely widen the web retail website’s repertoire, increase shopper expertise and supply extra for buyers to sit up for as 11street continues so as to add new merchandise on a regular basis.”

    KWC centre supervisor Fiona Bong stated the collaboration will profit KWC tenants on the bodily mall by offering them with on-line publicity to boost model consciousness while providing a constructive increase in transactions and gross sales for his or her enterprise.

    “11street is a gateway to new goal audiences for the varied retailers that we’ve beneath our roof. In immediately’s fast-paced, cost-conscious and aggressive setting, it’s not sufficient to depend on only one single go-to-market channel.”

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  • Tesco Malaysia to launch self-checkout lanes

    Tesco Malaysia to launch self-checkout lanes

    Tesco Malaysia has chosen NCR self-checkout know-how for introduction into its hypermarket community.

    The 2 corporations says the know-how will supply “a quicker and extra handy checkout choice” for its clients in Malaysia.

    “Clients will now have the liberty to scan, bag and pay for items themselves, with out having to attend in lengthy queues.” (Sure, the press assertion did say that; thus confirming Tesco has a customer support drawback – Ed).

    The Tesco retailer at IOI Metropolis Mall in Putrajaya, the chain’s latest, would be the website of the primary pilot deployment, to be adopted by Tesco KSL Metropolis in Johor.

    The NCR self-checkout answer works by a touchscreen that “intelligently guides consumers by way of the checkout course of with animated demonstrations for less complicated and quicker transactions”. NCR will present consulting, coaching and providers to make sure clean deployment.

    “We’re delighted to work with Tesco to increase the advantages of self-checkout to a different new market in Asia,” stated Michael Cawley, VP of Asia Pacific with NCR Retail.

    “By leveraging our strong international deployment experiences, we’re serving to retailers not solely to enhance their buyer providers and differentiate their in-store experiences, but in addition enhance their working prices.”

    Tesco first began utilizing NCR SelfServ checkout within the UK in 2002. The know-how is now out there at Tesco shops in Eire, the US, Central and Japanese Europe, South Korea and Thailand. NCR says its personal analysis exhibits self-checkout options can scale back wait occasions by as a lot as 40 per cent whereas almost two thirds of consumers say shops that provide the choice of self-checkout present higher buyer providers.

    NCR shipped extra self checkout models globally in 2014 than all different distributors mixed for the fifth consecutive yr, based on strategic analysis and consulting agency RBR.

  • Astro GS Store Malaysia bullish on progress

    Astro GS Store Malaysia bullish on progress

    House buying channel Astro Malaysia says its gross sales have risen 50 per cent between the January and April quarters.

    Astro GS Store is a three way partnership between cable TV community operator Astro Malaysia and South Korean multimedia retailer GS Residence Purchasing Inc.

    Within the quarter to April 30, Astro says the TV buying channel achieved RM37 million in gross sales, or about US$10 million). That’s a full 50 per cent greater than within the three months to January 31.

    The channel was ‘soft-launched’ final November, with the 2 companions not sure how Malaysians would take to purchasing on TV, particularly given the viewers was restricted to pay TV subscribers.

    Between February and April, Astro GS Store bought 175,000 gadgets, 55,000 greater than between November and January.

    The numbers should be small in comparison with extra mature TV buying companies in Korea or Thailand, for instance, however it’s the momentum which is reassuring the three way partnership companions.

    “I feel the traction is sweet,” Astro GS Store CEO Rozalila Abdul Rahman advised Digital News Asia.

    “Once we had our delicate launch in November final yr, we didn’t know whether or not the market was prepared. So there was no promoting push in any respect – we simply went on the air, and we began to see lots of people calling in.”

    Astro says its buyer database expanded from 75,000 to 160,000 through the newest quarter.

    The JV operated underneath the model Go Store on a 24-seven devoted channel on Astro’s pay TV platform, in addition to on web and cellular platforms.

    Rozhan predicted final yr that Malaysia’s eCommerce sector can be value RM3.6 billion (US$960 million) by 2020.

    After the early success of Go Store, Astro GS Store is planning to launch a second channel aimed toward Malaysian Chinese language residents.

    “We hope Astro GS Store is ready to hit RM150 million (US$40 million) in income this monetary yr. In 5 years, we hope we will develop income to RM500 million (US$133 million),” she stated.

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  • Malaysian attire retail gross sales strong

    Malaysian attire retail gross sales strong

    The Malaysian attire retail business has posted compound annual progress price of 9.9 per cent between 2010 and 2014.

    In accordance with a brand new report the sector achieved complete revenues of US$1.eight billion in 2014.

    However one of the best is but to return. The efficiency of the business is forecast to speed up, with an anticipated CAGR of 10.three per cent for the 5 years from 2014 to 2019, which is predicted to drive the business to a worth of $2.9 billion by the top of 2019.

    Not surprisingly, the womenswear phase led the best way with complete 2014 revenues of $800 million, equal to 47.5 per cent of the business’s general worth, based on the report.

     

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  • 11street Spreads Raya Joy with RM5 Million Giveaway Festive Campaign

    11street Spreads Raya Joy with RM5 Million Giveaway Festive Campaign

    In conjunction with the upcoming Raya festivities, 11street (www.11street.my), one of the largest online marketplaces in Malaysia today announced that its Hari Raya campaign is officially launched to give relief on consumers’ festival shopping.

    The Hari Raya campaign which began on June 1st, 2015 aims to give away more than RM5 million worth of discounts for over 130,000 product items under selected categories such as Fashion, Home & Living and Electronics.

    11street’s Chief Executive Officer, Hoseok Kim says, “Our Hari Raya campaign focuses on spreading the joy of the Raya celebrations by offering a wide variety of products range from fashion, accessories, personal gadgets, home appliance and more at great prices. We are committed to offer Malaysians more values via online shopping during this festive season.”

    At 11street, consumers can get their Raya apparels from top brands including MariBeli Butik, Era Maya, Benua Clothing, Hari Hari, Qish Qish and Zariya, as well as ready-to-wear collections by designers namely Ruzz Gahara and MyApparelZoo at great prices. Modern and versatile, the fashion range for kids, ladies and men feature high quality fabrics and exquisite designs.

    Featuring a variety of modern and fashionable home decoration deals, 11street’s Home & Living will be the perfect and easiest gateway to give your home a makeover without spending much time.

    Consumers can also find popular travel gadgets on 11street at unbeatable prices to keep families entertained during their ‘balik kampung’ journey. Through 11street’s extensive range of camera phones and selfie-friendly options, selfie-enthusiasts can find the perfect accessories they need to capture memorable moments at family occasions.

    The Raya discount coupons available on 11street range from 20%-50% and rebate up to RM200 applicable to all items selling under the selected categories, Fashion and Electronic starting from June 1st, 2015, whereas the promotion on Home & Living items will only begin July 5th, 2015.

    Consumers can visit the Hari Raya Promotion Page to find out more on the great offers at 11street.

    Buka Puasa with 11street’s Dining E-vouchers

    Furthermore, in light of the approaching Ramadhan, 11street will be offering value meal vouchers from many popular dining restaurants namely GTower Hotel, Checkers Café under Dorsett Regency KL, Papa John’s Pizza and more, where consumers can enjoy a delicious and convenient dining experience for Buka Puasa. The e-vouchers will be available under 11street’s ‘Shocking Deals’ section with lowest price guarantee starting from June 15th, 2015 until July 17th, 2015.

    “E-vouchers are gaining popularity in Malaysia and is a common trend for the e-commerce market, as a majority of consumers prefer to buy vouchers for more tangible discount on daily essentials. Today, e-vouchers are ranked as one of the best-selling items on 11street since its conception,” Kim adds.

    Kim concludes, “Given the level of savings available, we sincerely hope that Malaysians will find relief in shopping online at 11street especially with the price increases under the recently imposed Goods and Services Tax (GST). We will continue enriching our consumer’s shopping experiences by helping them to find what they love from a great variety of quality products at unbeatable prices.”

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  • Nutella row spotlights palm oil’s environmental destruction

    Nutella row spotlights palm oil’s environmental destruction

    France’s ecology minister, Ségolène Royal, caused a stir following her comments in an interview late on Monday on Canal+: “We have to replant a lot of trees because there is massive deforestation that also leads to global warming. We should stop eating Nutella, for example, because it’s made with palm oil.” She added that “Oil palms have replaced trees, and therefore caused considerable damage to the environment.” Ferrero, the Italian maker of Nutella, promptly issued a statement on Tuesday that it is committed to using 100% sustainably-sourced palm oil in its products. And rushing to the company’s defense, Italy’s environment minister Luca Galletti told Royal to “leave Italian products alone.”

    If Nutella’s environmental commitments are indeed fully accurate, it is a misguided target. Most palm oil is not sustainable, and the rising numbers of plantations in Indonesia and Malaysia (which account for 85% of global palm oil production) have destroyed vast areas of tropical rain forest. This habitat loss threatens the survival of endangered species including the Sumatran tiger, the orangutan, the Sumatran elephant, and the Javan rhino. And besides contributing to global climate change, the slash-and-burn method of clearing land also results in major localized air pollution.

    However, palm oil is a widely-used global commodity (complete with futures trading and spot markets), and about half of all supermarket products contain it, including many types of food and cosmetics. Oil palms are already among the most profitable cash crops for developing countries that can grow them.

    The U.S. has led the strong growth in demand for palm oil; those imports climbed 352% between 2002 and 2012, to about 1 million metric tons per year. And demand is likely to keep grow in the near future, due to recent top-down regulatory changes in the U.S., Indonesia, and Malaysia. On Tuesday the U.S. Food and Drug Administration ordered food manufacturers to stop using trans fats within three years, because their main ingredients–partially hydrogenated oils– “are not ‘generally recognized as safe’ … for use in human food.” Palm oil is commonly used as a substitute for trans fats, and indeed many food manufacturers and fast-food chains have already made the switch.

    Meanwhile, higher biodiesel targets are driving demand for palm oil. The U.S. Environmental Protection Agency said in May it would target a near 50% increase in the use of biomass-based diesel by 2017. Indonesia and Malaysia are also trying to raise their domestic use of palm oil in fuel, to both support the market as well as reduce expenditures on imported diesel. The Wall Street Journal reported that earlier this year, Indonesia introduced requirements to blend up to 15% of a palm oil feedstock in fuels by the end of 2015, with plans to later increase the ratio to 20%. And last week Malaysia’s government said it plans to increase the allowed blending of palm oil feedstock into biodiesel from 5% and 7% to as much as 10% by October. (However, weak crude oil prices will slow implementation of these goals, because palm oil is currently more expensive than fossil fuels.)

    That said, media attention and consumer action can make a real difference. Following a public pressure campaign, the major palm oil company Astra Agro Lestari announced earlier this month a moratorium on all forest clearance in Indonesia, effective immediately. And a recent study found that consumers would be prepared to pay between 15% and 56% extra for products containing palm oil if they knew that it would help to protect the natural habitats of threatened animals and plants in Indonesia and Africa, where palm plantations have spread rapidly over the past 20 years.

    Progress is still slow, but sustainably harvesting palm oil (for sale at a premium price) while conserving nearby tropical forests is looking a bit more likely.

  • Singaporeans spend money on Sogo Malaysia

    Singaporeans spend money on Sogo Malaysia

    A Singaporean funding firm has taken a strategic stake within the Malaysian licenceholder of Japanese division retailer model Sogo.

    Singapore-listed LTC Company, by way of a wholly-owned subsidiary, has taken a 50 per cent share of USP Fairness in equal partnership with USP Assets, which has acquired USP’s shareholding in SKLDS, which operates Sogo beneath licence from Sogo & Seibu  of Japan.

    LTC, historically concerned in property improvement, metal buying and selling and investments in Malaysia, China and Singapore, says in a regulatory submitting the mover is a part of a strategic initiative to broaden its enterprise base.

    “The LTC Group has been in search of a brand new enterprise to generate further revenue streams and diversify its asset and income base. Venturing into the retail and distributive enterprise in Malaysia is a step within the course of attaining these aims,” it stated.

    The funding value LTC MYR70.14 million (US$18.17 million).

    Sogo Malaysia is a full-line division retailer concentrating on home shoppers within the center market, ranging grocery, cosmetics, fragrances, attire and homewares.

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