Tag: Malaysia

  • Tesco Malaysia marks 60-store milestone in country

    Tesco Malaysia marks 60-store milestone in country

    Tesco Malaysia has opened its 60th store. The more-than 2000sqft store at Wangsa Walk is the retailer’s largest in the country, with recent changes in regulations reducing costs for an operation of this size and opening the path for similar formats going forward.

    “In providing a 2000sqft superstore with a targeted range of our famous value for money pricing, we are providing convenience and value for money to the customers in this area who were not able to enjoy all these before,” said Tesco Malaysia CEO Paul Ritchie as reported in the New Straits Times.

    “Going forward, we plan to keep expanding in Malaysia within this format as it believes that there is still a lot of growth opportunities in this country.”

    Tesco Malaysia has been operating for 17 years.

  • First Steve Madden store opens in Malaysia

    First Steve Madden store opens in Malaysia

    Steve Madden has opened its first store in Malaysia in partnership with retail group Valiram.

    Following success in Singapore, Steve Madden Malaysia marks the label’s second boutique launched by Valiram.

    “It is an absolute privilege for us to present yet another new-to-market lifestyle brand to Malaysia. Steve Madden is a trend leader that is intrinsically urban with an edgy attitude, and we’re certain it will make an impact with the fashion-forward shoppers in Kuala Lumpur,” said Ashvin Valiram, executive director of Valiram.

    Located in Mid Valley Megamall Kuala Lumpur, the 1410sqft store features the brand’s new design concept “Distilled Urban”, the incorporation of wood, steel and concrete, inspired by contemporary New York City chic.

    The Steve Madden Malaysia store also featured the new Fall 2019 Collection at its opening event.

    Founded in 1935, retail group Valiram operates more than 380 stores across Asia Pacific, presenting international brands including Michael Kors, Tumi and Victoria’s Secret.

  • Louis Vuitton launches online offers in Singapore and Malaysia

    Louis Vuitton launches online offers in Singapore and Malaysia

    Global luxury fashion brand Louis Vuitton has launched an e-commerce offer specifically for Singapore and Malaysia.

    Exclusive products will feature on the brand’s new online service, as well as its ready-to-wear items for men and women, bags, leather goods, shoes, accessories, luggage and fragrances, now available for purchase in the territory at louisvuitton.com.

    The e-commerce store is expected to offer limited edition colorways of popular Louis Vuitton leather goods, as well as hot stamping and engraving personalization services.

    The store’s “White Glove Service” offers complimentary same-day or next-day delivery, with a “Click and Collect” option also available.

  • Natura chooses Malaysia for Asian debut

    Natura chooses Malaysia for Asian debut

    Global cosmetics firm Natura has launched its business in Malaysia with a pop-up store in Sunway Pyramid, Petaling Jaya.

    The pop-up store will serve to introduce the brand and its products to consumers via a series of interactive experiences, including a skincare interactive wall, free skin and hair analysis, a fragrance personality analyzer, and a pampering hand massage during a VR adventure through the Amazon forest.

    In Malaysia, Natura products will be available to customers through the brand’s online store, with plans to launch a social selling channel now underway. The brand also engages in relationship selling and will open physical stores.

    Around 300 items from the Natura portfolio will be offered under the brands Ekos, Chronos, Lumina, Mamae e Bebe and Natura Homem – as well as fragrances from the Brazilian Perfumery House. All the firm’s products are 100 percent vegan.

    “We see great opportunity for Natura in Malaysia, with its millions of diverse consumers which have for decades been purchasing through many different channels,” said Natura International head Daniel Silveira. “We are confident that our omnichannel strategy will be well-received in Malaysia, bringing a wide variety of products to customers as well as providing a great platform for growth for our business across the region. More importantly, we are excited about working with local partners across Asia as a force for change to build a more sustainable future.”

    The brand is now looking at building its business across Asia. Last year Natura bought the Australian skincare brand Aesop, which already has an extensive network of stores across Asia.

  • UOB Malaysia Announces Firms for Digital Accelerator Program

    UOB Malaysia Announces Firms for Digital Accelerator Program

    The program, now in its third edition, aims to help startups, SMEs and businesses adopt digital technology to drive productivity and growth.

    Sixteen Malaysian SMEs have been selected to take part in UOB’s three-month-long digital accelerator program, the bank announced in a press release on Tuesday. The firms taking part in the «Jom Transform» program, whittled down from more than 900 applications, are from diverse sectors, including food and beverage, healthcare, consulting, logistics, manufacturing and more.

    As part of the program, these businesses will be paired with mentors, which include the Chinese Chamber of Commerce & Industry of Kuala Lumpur & Selangor, Malaysian Association of Tour and Travel Agents, Maxis, Malaysia Digital Economy Corporation and SME Corporation Malaysia, who will advise them on how to optimize workflow processes and inventory, distribution and human resource management systems.  They will also be paired with technology partners to pilot and assess digital solutions.

    «As family-owned businesses transition from the first- to second-generation leadership, we see an accelerated use of technology in their business. Yet many business leaders lack the skills to implement digital solutions successfully and effectively,» Wong Kim Choong, UOB Malaysia CEO, said about the opportunities and challenges SMEs in Malaysia face.

    Jom Transform is run by UOB and Singapore-based innovation accelerator The Finlab. It was announced in June in Malaysia, following successful editions held in Singapore (2018) and Thailand (2019).

  • AirAsia reveals exclusive route from Kuala Lumpur to Da Lat

    AirAsia reveals exclusive route from Kuala Lumpur to Da Lat

    Air asia has launched an exclusive route to Da Lat from Kuala Lumpur, further expanding its footprint in Vietnam.

    The four times weekly service to Da Lat, capital of Lam Dong province in the Central Highlands, will commence on Dec 20.

    Da Lat, known as the City of Eternal Spring for its pleasant weather, was developed as a leisure town by the French in the early 1900s, and boasts some fine examples of colonial architecture, such as Da Lat Railway Station and Lycée Yersin. Da Lat is also home to three mansions owned by Emperor Bao Dai, the last emperor of Vietnam.

    Other attractions include Xuan Huong Lake, a popular icon of Da Lat located in the city centre, and Linh Phuoc Pagoda, which is covered in colourful mosaic made from pieces of pottery and glass. For nature lovers, Robin Hill offers a panoramic view of the city and its natural surroundings, including Tuyen Lam Lake and Lang Biang Mountain, while trekking to the top of Mount Samson allows visitors to get a highland view of Da Lat.

    AirAsia Malaysia CEO Riad Asmat said, “We are proud to expand our fast-growing network with the introduction of this new and unique route to Da Lat, Vietnam. As the first international airline to fly to Da Lat, visitors from Malaysia no longer need to drive three hours from Nha Trang or five hours from Ho Chi Minh City to get to this picturesque city. This new route will strengthen economic ties for the people of southern Vietnam, while enhancing connectivity into other parts of Asean and beyond.”

    To celebrate the new route, AirAsia is offering all-in members fare for Kuala Lumpur-Da Lat from as low as RM99 from now until Sept 29 for travel from Dec 20 until March 27, 2020, only on airasia.com and the AirAsia mobile app.

    Da Lat is AirAsia’s seventh destination in Vietnam after Hanoi, Ho Chi Minh City, Da Nang, Nha Trang, Can Tho and Phu Quoc.

  • Malaysian retail sales sets record in July

    Malaysian retail sales sets record in July

    Malaysian retail sales grew by 7.1 percent in July.

    Combined with the wholesale trade, a new record high of RM112.5 billion (US$26.94 billion) turnover was set for the month.

    According to Malaysia’s chief statistician Datuk Seri Dr Mohd Uzir Mahidin, the retail trade alone grew by 7.1 percent, that figure fuelled by a 10.5-per-cent growth in sales of food, beverages, and tobacco.

    This was followed by retail sales of other goods in specialized stores and retail sales in non-specialised stores which registered 8.2 percent and 8.1 percent respectively.

    For wholesale trade, sales value expanded 6.6 percent. However, sales of motor vehicles fell by 1.7 percent year on year.

    Growth on a month-on-month basis in combined wholesale and retail sales rose by 0.2 percent, with the retail trade up by 1.1 percent and wholesale transactions down by 2.3 percent.

  • Malaysian supermarket stops selling products labelled ‘palm-oil free’

    Malaysian supermarket stops selling products labelled ‘palm-oil free’

    Mydin, Malaysia’s largest supermarket chain, has announced plans to de-stock any products promoted as “palm-oil free” in a move aimed at discrediting the environmental movement.

    The expansion of palm-oil plantations – the majority of which are located in Malaysia and Indonesia – has led to substantial deforestation of the native habitats of the three surviving species of orangutans, one of which – the Sumatran – is on the list of endangered species.

    In 1992, the Malaysia government pledged to limit the expansion of palm oil plantations – which typically are planted on land where natural forests have been cleared. Now the government is actively promoting the use of palm oil to boost the nation’s exports of the product, apparently no longer concerned about its environmental impact.

    In July, the Malaysian government promised action against an international school for spreading “anti-palm oil propaganda” and Teresa Kok, Malaysia’s minister of primary industries, this week praised Mydin’s move to ban products promoted as palm-oil free. She said she hoped other retailers would follow Mydin’s example.

    This year, the European Union passed an act to phase out palm oil from renewable fuel by 2030 due to deforestation concerns.

    Malaysia and Indonesia account for about 85 percent of the world’s palm-oil production, of which about 70 percent is used in foods. Manufacturers use palm oil because it is inexpensive compared to alternatives – and because it has a high saturation when used in frying.

    According to The Edge, the Malaysian government is considering a law banning all products flaunting non-use of the oil.

    Ameer Ali Mydin, MD of Mydin Mohamed Holdings, told a press conference that his stores removed all anti-palm products on Wednesday.

    “We must support palm oil,” he said, along with taking steps to counter-marketing and branding exercises that people do that discourage consumers to buy palm oil.

    “By labeling something that there is no palm oil, you’re actually telling people that palm oil is bad for you.”

    Of course, Mydin’s comment is complete nonsense. The reason marketers promote their products as not containing palm oil is to allow consumers to make an informed choice on whether they should buy the product, based on their concerns for the environment, specifically endangered orangutans. It has nothing to do with consumers’ health.

    Indonesia’s government has also reportedly told some retailers in Jakarta not to stock products with ‘palm-oil free’ labels.

  • BreadTalk Group to buy Food Junction

    BreadTalk Group to buy Food Junction

    Listed Singapore food-and-beverage company BreadTalk Group is to buy foodcourt operator Food Junction Management (FJM).

    A subsidiary of BreadTalk, Topwin Investment, has signed a sale and purchase agreement to pay S$80 million for FJM, which operates 12 foodcourts in Singapore and three in Malaysia. A fourth is on track to open next year at The Mall in Johor Bahru.

    BreadTalk Group sees synergies between the FJM business and its own foodcourt operations – it owns Food Republic and Food Opera-branded sites in Singapore, Greater China, Thailand, Cambodia and Malaysia. The combined operation could share support services and rationalise supply arrangements.

    FJM is owned by Singapore investment company Auric Pacific Group Limited.

  • 7-Eleven Malaysia store sales rise with new stores openings

    7-Eleven Malaysia store sales rise with new stores openings

    7-Eleven Malaysia has boosted sales by 7.2 per cent in the first half of this year, aided by new store openings, increased promotions and a higher average spend per customer.

    The company now has 2323 stores trading and plans further openings in the second half of this year.

    For the six months to June 30, 7-Eleven Malaysia group revenue reached RM1.17 billion (US$277.9 million) Revenue from its food-service business surpassed 3.5 per cent of the group’s total, an increase of more than 30 per cent year on year.

    Gross profit improved by RM33.7 million or 8.5 per cent year on year, despite expenses related to store openings. The adoption of MFRS 16 accounting standards relating to leases reduced post-tax profit by RM4.6 million. Excluding that factor, the group would have achieved a profit after tax of RM30.3 million, which would have been 37.4 per cent ahead of the same period last year.

    CEO Colin Harvey said the company was pleased with its overall results, especially given the impact of MFRS 16.

    “We are confident that continuous implementation and improvement of our strategy roadmap in strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will continue to deliver positive results despite challenging headwinds as we look forward to ensuring that 7-Eleven remains Malaysian consumers’ preferred convenience store brand.”

    The 7-Eleven Malaysia board believes trading conditions for the next quarter are expected to remain challenging

  • Shopee app Singapore’s most downloaded

    Shopee app Singapore’s most downloaded

    The Shopee app has emerged as Singapore’s most downloaded shopping app.

    The Sea company platform had 2.8 million visitors per month on average during the second quarter, with an 11 percent increase compared to the previous quarter. It is currently the most-used app of its kind throughout the whole of Southeast Asia, while rival firm Lazada remains the most actively used e-commerce app within Singapore itself.

    “Apps by Alibaba such as Taobao and AliExpress remained prominent among Singaporean consumers probably due to the increased popularity of Chinese products and Chinese language proficiency in the country,” read a report by iPrice Group.

  • AirAsia Good hub opens in Kuala Lumpur

    AirAsia Good hub opens in Kuala Lumpur

    AirAsia Foundation opened its first social enterprise hub, Destination: GOOD, at the weekend, marking a new milestone in its social entrepreneurship advocacy.

    Located downtown Kuala Lumpur in the former Rex Cinema premises now called REXKL, Destination: GOOD retails more than 400 responsibly and ethically produced goods sourced from over 30 social enterprises from around ASEAN.

    More than a shop, it aims to be an exchange that fosters collaboration between ASEAN social entrepreneurs and community-based enterprises.

    “In the last seven years, we have awarded 24 grants to innovative ASEAN social enterprises to help them grow. We realised that to expand our reach, we needed to create broad-based platforms to speak to new markets and audiences. Through Destination: GOOD, we hope to do just that and make social enterprise goods and services accessible to anyone seeking sustainable travel and lifestyle solutions,” said AirAsia Foundation executive director Yap Mun Ching.

    Malaysia’s Minister of Finance, YB Lim Guan Eng, joined AirAsia Group executive chairman Datuk Kamarudin Meranun and AirAsia Group CEO Tony Fernandes at the opening ceremony.

    Also present to share their stories were 10 of AirAsia Foundation’s Malaysian social enterprise partners, including The Basikal, Langit Collective and The Picha Project.

    On the sidelines of the shop opening, AirAsia Foundation signed a Memoranda of Understanding (MoU) with Kraftangan Malaysia to bring Malaysian crafts to a new audience and with Minconsult Sdn Bhd, the AirAsia philanthropic arm’s first corporate partner, to jointly fund social enterprise outreach activities in Kuala Lumpur. Over the past two years, AirAsia Foundation has operated Destination: GOOD as a pop-up store in various locations, including Kuala Lumpur International Airport (klia2). This is the first time the shop will have a permanent address in the city centre.

  • Shopee signs Cristiano Ronaldo

    Shopee signs Cristiano Ronaldo

    Southeast Asian/Taiwanese e-commerce platform Shopee has appointed global football icon Cristiano Ronaldo as its newest brand ambassador.

    Ronaldo will work with Shopee on a wide range of initiatives to engage and inspire customers in the region, starting with Shopee’s annual shopping event, 9.9 Super Shopping Day.

    “Cristiano Ronaldo is one of the greatest athletes of our time,” said Shopee CEO Chris Feng. “He is an inspiration to many, and his dedication to football matches the deep commitment we have towards our users. Together with Cristiano Ronaldo, we look forward to creating a lasting positive impact on our region.”

    “I am proud to be Shopee’s brand ambassador as we share the same ambition to be the best in our fields,” said Ronaldo. “I am always improving my game for my fans and my team, just as Shopee innovates to benefit their users in this region. I am excited by this partnership, and I look forward to creating more special moments for my fans together with Shopee.”

    Cristiano Ronaldo stars in Shopee’s newest 9.9 TVC, which will air in all seven Shopee markets in the region.

  • Li Ning profit up as restructure pays off

    Li Ning profit up as restructure pays off

    Chinese sportswear retailer Li Ning reaped the benefits of a restructure in the first half of this year, with net profit attributable to shareholders by 196 per cent to RMB795 million (US$113 million).

    For the last two years, Li Ning has been investing in its retail business, upgrading stores, refining its product offer and reorganising its supply chain and other back-of-house operations.

    More recently it has launched a new retail brand Li Ning Young, which has added 79 more stores so far this year, taking the network to 872.

    The company said its margin has increased from 5.7 per cent during the first half of last year to 12.7 per cent in the same period this year.

    While the huge profit boost was partly due to non-operational factors, the regular business still posted a surplus up 109 per cent to RMB561 million, and net profit margin was 9 per cent.

    Group sales revenue rose 33 per cent to RMB6.255 billion ($889.5 million), with same-store sales growing by the mid-teens.

    The company said it was focused on strengthening its brand and product competitiveness during the first half, especially its five core categories: basketball, running, training, badminton and sports casual.

    “We set professionalism and functionalism as the foundation, and consolidated the brand’s DNA of professional sports,” the company said in an earnings statement.

    As at June 30, Li Ning had 6422 points of sale, a net increase of 112 over three months.

    The network of conventional stores, flagship stores, China Li-Ning stores, factory outlets and multi-brand stores under its brands amounted to 7294 as of June 30, representing a net increase of 157 since December 31.

  • Malaysia Facing Fintech Talent Shortage

    Malaysia Facing Fintech Talent Shortage

    As the historically conservative financial industry in Malaysia becomes increasingly open to fintech developments, a shortage of talent is seeing firms scramble for talent in a limited pool of candidates.

    Financial institutions in Malaysia can’t hire fintech talent fast enough to keep pace with the growing demands of consumers, according to recruitment specialist Hays.

    A lack of technical specialists means that across the board, employers in Malaysia are prioritizing hard skills over soft skills in their recruitment efforts, according to the 2019 Hays Asia Salary Guide. Banks and fintech firms alike are short of talent including software developers, cloud engineers, network engineers, cybersecurity engineers, project managers and data scientists.

    The survey said that 60 percent of hiring managers are more inclined to employ staff based on their technical aptitude. Hiring managers said the top technical skills they are looking for are statistical analysis and data mining (voted by 55 percent), project management (52 percent), and computer skills (44 percent).

    Digitalization has made strong inroads in banking, and banks and financial institutions are partnering with fintech firms to bolster know-your-customer (KYC) processes, anti-money laundering and digital identity management. Banks might also be gearing up for competition as virtual banking is fast becoming a reality for Malaysia – Bank Negara plans to issue licensing guidelines by year-end, or as soon as the industry regulations are finalized.

    The majority of those currently making their way into fintech in Malaysia are in the first 10 years of their career or straight out of education. However, a large amount of this demographic, the techies of the future, do not see the industry as one that is beneficial to their careers, said Hays consultant Ashraf Rafiuddin.

    As such, employers are using self-promotion and training to entice younger talent, and are also hiring candidates from outside the field, including those without an IT background. This increasingly open-door policy that has been seen in the past 12 months is expected to continue into the next year, Rafiuddin said.