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Tag: Malaysia

  • AirAsia X Malaysia gets third IATA op safety audit

    AirAsia X Malaysia gets third IATA op safety audit

    AirAsia X Malaysia has received its third biennial IATA Operational Safety Audit (IOSA) registration. AirAsia X, which is the long-haul, low-cost affiliate carrier of the AirAsia.IOSA is an internationally recognised and accepted evaluation system designed to assess an airline’s operational management and control systems, and is regarded by the industry as the global benchmark for safety management.

    To qualify for the registration, AirAsia X Malaysia had to successfully complete an operational safety audit covering eight areas of operations: organisation and management system, flight operations, operational control and flight dispatch, aircraft engineering and maintenance, cabin operations, ground handling operations, cargo operations and security management.

    AirAsia X Malaysia CEO Benyamin Ismail said this third IOSA registration testified of its continuous commitment to maintaining the highest safety standards across its operations.

    “It was made possible by our dedicated Allstars who work tirelessly to ensure we comply with the most stringent safety standards in the industry. Safety is at the heart of everything we do and we will strive to not only meet regulatory requirements at all times but to surpass them,” he said.

    AirAsia X Malaysia joined the IOSA Registry on April 16, 2015, becoming the second airline in Malaysia to successfully pass the internationally recognised operational safety audit.

  • AirAsia extends it’s network from Penang

    AirAsia extends it’s network from Penang

    AirAsia confirmed Wednesday it will fly a direct service from Penang to Hanoi, Vietnam and Phuket, Thailand, effective 1 July.

    Operated exclusively by AirAsia Berhad (AK), the direct flights to Hanoi and Phuket mark the airline’s ninth and 10 route from Penang Island in northern Malaysia.

    Flights from Penang to Hanoi will operate four times weekly, while flights to Phuket will operate daily.

    At present only Flirefly, Malaysia Airlines’ subsidiary, flies the Penang-Phuket route offering four weekly services using a 70-seat ATR-72 aircraft.

    AirAsia Malaysia head of commercial, Spencer Lee said: “Penang is undoubtedly one of Malaysia’s pride with its World Heritage status, internationally acclaimed cuisines, vibrant cultures and beautiful architecture. More importantly, its strategic location at the crossroads in the region has helped boost the growing inbound and outbound travel demand that saw 7 million tourist arrivals via air travel last year.

    To celebrate the two new direct routes, all-in-fares from RM99* from Penang to Hanoi and RM79* one-way from Penang to Phuket are available for booking effective yesterday to 15 April for the travel between 1 July and 28 October.

    Passengers can also save more when they book with BigPay, Asia’s money app. It offers money savings of up to RM32** on airasia.com. Moreover, guests get to pay the real exchange rate with no fees when they spend abroad, and earn BIG points along the way.

    Aside from the latest Asean routes, AirAsia also flies directl from Penang to Kuala Lumpur (102 times weekly each way), Johor Bahru (31 times weekly), Kota Kinabalu (11 times weekly), Kuching, (10 times weekly one way), Langkawi (21 times weekly), Ho Chi Minh City (daily), Singapore (28 times weekly), Medan (28 times weekly), Surabaya (five times weekly) and Jakarta (14 times weekly) via AirAsia Indonesia (flight code QZ) and Bangkok (14 times weekly) via AirAsia Thailand (flight code FD).

  • Chicken Cottage starts expansion rapidly

    Chicken Cottage starts expansion rapidly

    Fast-food chain Chicken Cottage has opened its second outlet in Malaysia, in Taman Tun Dr Ismail (TTDI), taking its total to 90 stores worldwide.

    Its first outlet in Malaysia was in Kuala Terengganu, with others to follow in Putrajaya and Johor soon, says the Menteri Besar of Terengganu, Datuk Seri Ahmad Razif Abd Rahman. Chicken Cottage is owned by a subsidiary of the state government’s investment arm Terengganu Inc.

    Launched in the UK in 1994, the chain was taken over by Global Food Holdings, the Terengganu subsidiary, with a 70 per cent stake in 2014. It acquired full ownership in April last year.

    Ahmad Razif says it would cost franchisees around RM1 million ($US258,500) to open an outlet in Malaysia, plus the company plans to open 250 Chicken Cottages internationally. Target countries include China, India, Singapore and Thailand. The brand has halal certification from religious departments in both Malaysia and abroad.

    Meanwhile, Chicken Cottage Holdings chairman Datuk Wan Nawawi Wan Ismail says TTDI was chosen for the Klang Valley’s first outlet as the residential area borders Kuala Lumpur and Petaling Jaya, Selangor.

  • AirAsia Malaysia has flexible policies to empower its women workforce

    AirAsia Malaysia has flexible policies to empower its women workforce

    Over half of Spencer Lee’s team are women, and the head of the commercial department at AirAsia Malaysia continues to be amazed by all of them, their drive and their prowess for critical thinking.

    “Women are analytical, dynamic and rational individuals. Besides being great planners, they are calmer and never take no for an answer. This positive drive has enabled AirAsia to produce great results in the aviation turf,” Lee says.

    “I’m surrounded by women in the office. Some say I need a bodyguard to protect me from these confident and empowered women,” Lee adds in jest, during an interview at AirAsia’s RedQ in Sepang, Selangor.

    “A large percentage of women in our department hold managerial positions, too. They head sections such as marketing, sales, social media and route revenue,” says Lee, who has been with AirAsia for 13 years.

    Women are analytical, calm and confident in the workplace.

    Though Lee surrounds himself with strong women, he is never threatened or intimidated by their capabilities. On the contrary, he says he has never been gender specific about selecting team players. Instead, he focuses on their individual skills.

    “Employment comes down to having the drive, right skills set and commitment towards the job. No matter how smart a person is, that means nothing without the right attitude. At AirAsia’s commercial department, we source talents who are driven and passionate,” Lee explains.

    Lee says he’s aware that many of his colleagues are juggling various roles, especially mothers with young kids or those caring for elderly parents. “It’s important for leaders to emphasise and understand their subordinate’s concerns.”

    He adds, “We live in a world where everyone is digitally connected. At times, mothers in my team work from home when caring for a child who is unwell. The key is flexibility and understanding,” says Lee, who believes in adopting versatile work policies.

    AirAsia recently set up a daycare centre for kids between one and six years old, to make working more conducive for mothers. There’s also a launderette, a cafeteria and a clinic for their benefit.

    Lee says any company will attract the right female talent if it has the right policies and work environment.

    “At AirAsia, we have an amazing team comprising of mothers who juggle work and family. They are engineers, pilots and ramp agents (people who load and unload baggage and cargo). It is important to create a good ecosystem with facilities that empower women.”

    Lee says he’s never had a major hiccup among his female colleagues. The secret is to respect everyone and work as a family.

    “We take our work seriously and strive to give it our best. The job can be challenging but we embrace the work culture. Occasionally we have a get-together after work. It keeps the team stronger and united regardless of gender, colour or creed.”

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  • Malaysia First to Offer Gold in Exchange for Recycled Plastics and Cans

    Malaysia First to Offer Gold in Exchange for Recycled Plastics and Cans

    Malaysians will soon be the first to earn gold by recycling their plastic bottles and aluminum cans. Southeast Asian fintech firm HelloGold and Malaysia’s reverse-vending machine (RVM) company KLEAN are implementing a recycling scheme that offers Malaysians 0.00059 grams of investment-grade gold for each recycled plastic bottle and each aluminum can.

    Anyone can start earning gold by first downloading the HelloGold app from the Google Play Store or Apple Store and registering for an account. Once registered, users can bring their plastic bottles and aluminum cans to any KLEAN RVM for recycling. After depositing the bottles or cans in the machine, users can choose to convert their KLEAN e-credits into gold through a seamless integration between the KLEAN digital wallet and the HelloGold mobile app. Users can also register for an account at any of the forty machines that will be available across Klang Valley in July, and 500 machines across Malaysia at key locations before the end of the year.

    Robin Lee, CEO and Co-founder of HelloGold, said, “Emerging economies across Asia are dealing with increasing plastic use and consumption. Without adequate recycling infrastructure or habits in place, these plastics end up in landfills and oceans destroying the environment. HelloGold’s partnership with KLEAN will incentivise people to clean up the environment, while accessing new financial products such as gold.”

    “In our mission to enable everyone access to safe and affordable gold products to protect their savings, HelloGold has been expanding our reach to millions of online and offline communities through key partnerships such as Axiata’s Boost and Aeon Credit. Our latest partnership with KLEAN reflects our shared values in using innovative technology to enable financial inclusion and wealth creation for the man on the street,” Robin concluded.

    Increasing plastic waste has become a pressing environmental problem for countries across Asia. Six of the top ten countries most responsible for plastic waste entering the ocean are in Asia, leading with China and followed by Indonesia, Philippines, Vietnam, Thailand and Malaysia. Only 14% of plastic packaging is collected for recycling globally, an estimated US$80-120 billion economic loss per year.

    Nick Boden, CEO of KLEAN, said, “Plastic waste is increasing around the world, yet recycling rates remain low. Through this partnership, we aim to encourage greater recycling by showing Malaysians the potential wealth and money that lies around our communities, in our landfills and floats in our oceans.”

    Nick continued, “After launching in Malaysia, we see great potential to expand our offering to other countries such as Singapore and South Africa. In countries such as South Africa, plastic scavenging is often the main source of income for families who must sell their plastic within an informal economy that is dominated by middle men with high fees. Enabling these families to directly access virtual currency or gold at KLEAN’s reverse vending machines will allow for a safer and more stable economic livelihood.”

    The KLEAN Reverse Vending Machines collect aluminum cans and plastic bottles, sort and crush on site, while registering users and rewarding them with virtual points. These collected items are then smelted back into aluminum in the case of cans and recycled into PET pellets in the case of plastic bottles.

    According to report, imports of plastic waste have increased sharply in Southeast Asia following China’s decision to ban imports of plastic waste from the start of 2018. Malaysia’s plastic imports jumped from 288,000 tonnes in 2016 to 450,000 tonnes in 2017; in the same period, Vietnam’s imports rose 62%, Thailand’s 117%, and Indonesia’s 65%.

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  • Li-Ning showing positive margin number

    Li-Ning showing positive margin number

    Stronger margins helped Chinese sportswear brand Li-Ning boost profit attributable to shareholders by 56 per cent last year, to RMB515 million (US$82 million).

    The company says sales rose 11 per cent to RMB4.176 billion and the net profit margin from 4.1 per cent to 5.8 per cent, with both brick-and-mortar sales and online turnover rising. E-commerce now accounts for 19 per cent of total sales of its core brand.

    Li-Ning is coming to the end of a major business restructure and brand repositioning which has resulted in shorter product life cycles, reduced in-store inventories and – after widespread discounting and buy-back programs to reduce the excess stock – stronger margins.

    Last year, the company showed the results of placing more emphasis on sports research and investment in product research and development to design and provide professional products to athletes and sports enthusiasts.

    “Incessant imagination, on the other hand, is driving Li-Ning to be more trend-setting by integrating fashion, entertainment and leisure elements with professional sports, therefore creating more professional and stylish products and sports experience for sports enthusiasts and life enjoyers,” the company said in its earnings statement.

    “To enhance retail capability, we are dedicated to enhancing the precision of our product planning and optimising the supply model, so as to satisfy end-user demands in a ‘swift + precise’ way. As for retail stores, we upheld the consumer-oriented approach by enhancing and re-shaping retail experience at stores constantly.”

    As at the end of last year, Li-Ning had 6262 points of sale in China, a net decrease of 178 during the year, excluding its Li-Ning Young channel, which now has 173 stores across 26 mainland provinces.

    “The group has taken continuous initiatives to refine channel structure and raise channel efficiency by implementing various measures including closing down and renovating inefficient and loss-making stores and opening highly efficient stores and key experience-concept stores,” the company said. “During the year, the overall retail sell-through registered a high-single digit growth, with product discount rate and sell-out rate further improved.”

    Li-Ning says competition in the sports-casual market is still intense.

    Founder and executive chairman, Li Ning himself, said the robust development of the sports industry brings new opportunities as well as challenges to the future.

    “We foresee the consumption structure of consumers to be transformed toward a more refined and mature dimension while the influence of brand power and brand value deepened. Looking forward, we will continue to devote major resources into sports knowledge learning, technological research and development and Li-Ning brand experience development, proactively exploring and broadening room for business development.”

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  • Titijaya buys 99% stake in Ampang land owner

    Titijaya buys 99% stake in Ampang land owner

    Titijaya Land Bhd is buying a 99% stake in BJ Properties Sdn Bhd, which owns 6.8 acres of leasehold land in Ampang that it plans to develop into a RM1.5 billion gross development value project.

    In a filing with Bursa Malaysia today, the group said its purchase is in line with its growth strategy in expanding its land bank and investing in strategic property development projects in the Klang Valley.

    The land is expected to be used as mixed development with a focus on the residential component, complemented by some commercial elements.

    Titijaya’s wholly owned subsidiary Tulus Lagenda Sdn Bhd will pay up to RM9.9 million for the stake.

    Based on the audited financial statements for the financial year ended Aug 31, 2017, BJ Properties recorded a net loss of RM1.06 million and negative shareholders fund of RM3.07 million. The land in Ampang has a book value of RM103.67 million.

    Titijaya intends to fund the proposed subscription via internally generated funds and/or bank borrowings. The company’s share price closed 1.5 sen lower to close at 52.5 sen with some 331,100 shares changing hands.

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  • PSA signs Malaysia production deal to boost Asia reach

    PSA signs Malaysia production deal to boost Asia reach

    PSA Group has signed a deal with Malaysian company Naza to jointly produce PSA-branded cars for Malaysia and other Asian markets. It is part of the automaker’s plans to boost its presence in the region after a failed bid to form a partnership with with Proton Holdings.

    PSA said in a statement on Monday that it had signed a share sale agreement and a joint venture agreement to establish a shared manufacturing hub in Gurun, Kedah, in Malaysia. PSA will own a 56 percent stake in the manufacturing hub, but no deal value was disclosed at the press event in Kuala Lumpur.

    The Malaysian plant will have a 50,000-unit capacity. Output of the Peugeot 3008 will begin this year, with the Citroen C5 Aircross following in 2019, PSA said.

    Naza said that with the joint venture it aimed to export 20,000 cars from the plant in the next three years.

    “The Naza Group will have sole responsibility for the distribution of Peugeot, Citroen and DS Automobiles in the domestic market and, with PSA, will explore distribution prospects in other ASEAN markets,” the statement said.

    PSA said the deal formed part of the company’s Push to Pass strategic plan to boost sales. That plan envisages a 10 percent increase in sales by 2018 and a further 15 percent by 2021 versus 2015 for the French group.

    “The creation of the ASEAN (Association of South East Asian Nations) hub in Gurun, Kedah, is a significant leap forward for PSA that will lead to the development of a profitable business in the region as part of our Push to Pass strategic plan,” PSA CEO Carlos Tavares said.

    PSA’s entry into Malaysia echoes that of Chinese manufacturer Zhejiang Geely Holdings Group’s last year. Geely bought a 49.9 percent stake in Malaysia’s Proton, pledging to help the struggling national automaker to strengthen its presence domestically and in the region. PSA was also in the running to form a partnership with Proton.

  • Lay Hong to invest RM16.6 million in liquid egg processing facility in Pasir Gudang

    Lay Hong to invest RM16.6 million in liquid egg processing facility in Pasir Gudang

    Lay Hong Bhd will invest RM16.6 million for a new pasteurised liquid eggs processing facility in Iskandar Halal Park, Pasir Gudang, Johor to cater the needs of the southern region and Singapore market as well as addressing logistics costs.

    The group told the stock exchange that the investment will include the purchase of a semi detached factory from Tentu Teguh Sdn Bhd for RM5.2 million. The project is expected to be completed within six to seven months upon delivery of certificates of fitness from the developer.

    The investment cost will be financed through a combination of internally generated funds and bank borrowings.

    Lay Hong said the new facility is also in line with the group’s focus on enhancing the sales of downstream products.

    Its share price gained one sen or 1.05% to close at 96 sen with 4.97 million shares done.

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  • Strong sales growth posted by Hermès Asia

    Strong sales growth posted by Hermès Asia

    Hermes Asia sales grew 11.3 per cent last year to €1.946 billion (US$2.4 billion) as the luxury retailer set a new record for gross retail margin.

    The company said the retail market was improving in Hong Kong and Macau, with the Asian market “pursuing its upward curve” and positive outlooks in Mainland China and South Asian countries.

    Growth was aided by store revamps at Sogo Fuxing in Taiwan, Elements mall in Hong Kong and at Kuala Lumpur.

    Sales in Japan (separated from Asia results) rose 4 per cent to €724.1 million, despite a high comparison figure from last year, which the company described as “a sustained increase” in what is a mature market, citing a selective distribution network.

    Group sales totalled €5.549 billion (US$6.863 billion), up 9 per cent at constant exchange rates. Operating income rose 13 per cent, to €1.922 billion, representing a record 34.6 per cent gross margin, while net profit rose 11 per cent to €1.221 billion.

    “Hermes achieved a new year of historic results, thanks to the quality of our know-how, the success of our creations and especially the incredible commitment of the women and men of Hermes,” said executive chairman Axel Dumas.

    Hermes will ramp up its online offer in the region this year, with a new website scheduled to go live in China at the end of this year.

    Meanwhile, the company said the sale of the Galleria building in Hong Kong’s Central district, which previously housed its flagship store, would likely generate a net capital gain of €50 million this year.

    Leather drives growth

    By category, Hermes’ leather goods proved the strongest performer last year, sales rising 10 per cent globally, reflecting increased production capacity as demand rose for its handbags.

    The ready-to-wear and accessories division grew 9 per cent, driven by the success of new collections, fashion accessories and particularly shoes.

    Sales of silk and textile products grew 6 per cent and of perfumes by 10 per cent, largely due to the successful launch of Twilly d’Hermes.

    Watch sales grew just 1 per cent with what Hermes described as “good sales” in company-owned stores. Other Hermes business lines- jewellery, Art of Living and Hermes Table Arts, grew sales by 11 per cent.

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  • Tourism Malaysia Supports ShopBack’s Move of Hiring A Chief Travel Officer

    Tourism Malaysia Supports ShopBack’s Move of Hiring A Chief Travel Officer

    Tourism Malaysia today expresses its supports towards ShopBack Malaysia’s Chief Travel Officer (CTO) campaign, an attractive idea that offers RM15,000 for a travel lover to go for three trips within Malaysia and showcase how he/she does it through a smarter way via videos.

    “Travel has become a common hobby among the youth, and we believe ShopBack’s Chief Travel Officer campaign will certainly drive interest and conversations towards the interesting places in Malaysia. The first CTO campaign in 2017 was a success, and we are glad that ShopBack Malaysia is passionate to keep this going – more worthy places could be discovered by the next Chief Travel Officer,” says Mr. Mohd Amirul Rizal Abd Rahim, Deputy Director, Domestic & Events Division, Tourism Malaysia.

    “Malaysia is a blessed country with beautiful destinations. Many of us are travel lovers too, therefore we initiated a social campaign that embodies money-saving skills, passionate travel spirit as well as fun and daring adventure. The first CTO brought us to places less publicised such as Kudat, the tip of Borneo in Sabah while nicely demonstrated how she saved on trips booking via ShopBack through lively videos. We look forward to working with the next Chief Travel Officer for a more engaging experience like this,” says Alvin Gill, Country General Manager, ShopBack Malaysia.

    The leading cashback site works with a full range of travel sites that covers airlines, bus, rides, accommodations and tour services to offer cashback on top of discounts provided by merchants. Those include Malaysia Airlines, easybook, Expedia, Booking.com, Traveloka, Hotels.com, Adventoro, KLOOK, Grab and more.

    The Chief Travel Officer will be given a RM15,000 travel fund to plan for 3 holidays within Malaysia. He/She will need to demonstrate how the travel planning was done, film and share travel experience with the public. The campaign targets to encourage youth to travel the smarter way and appreciate the beauty of the country that they live in.

    Amirul also expressed that the Chief Travel Officer campaign will help to amplify Tourism Malaysia’s Cuti-Cuti Malaysia Dekat Je Domestic Campaign and Visit Malaysia 2020 campaign, where ShopBack’s CTO will indirectly promote local tourist attractions and generate interest on domestic travels among Malaysians.

    “We appreciate Tourism Malaysia’s endorsement of this campaign and are confident that it will resonate well with travel communities and show them a journey to enjoy travel without burning a hole in the pocket. Since 2015, we have helped Malaysians to save more than RM25 million Cashback from their purchases, of which a chunk of it is from travel expenses,” Alvin added.

    The application closing date is 8th April 2018, 6 pm. It opens to all Malaysians who love to save while travelling always active on social media and keen to discover the path less travelled. The chosen one will be announced on 18th April 2018.

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  • Funmaii jumps on cashless retail hype with e-wallet app service

    Funmaii jumps on cashless retail hype with e-wallet app service

    Malaysian convenience store concept Funmaii aims to become a major player in the cashless retail ecosystem.

    It has made this announcement at the opening of its second outlet, in Bandar Puteri, Puchong. Its first store launched at Sunway Nexis, Kota Damansara, in January.

    Designed like a normal convenience store, Funmaii outlets offer daily necessities combined with the ease of electronic payment. Customers simply pick up their items and make payment through the Funmaii app e-wallet service, or by Mastercard or Visa credit cards. As well as Malaysian food products, the stores offer imported snacks and beverages from Japan, Korea, Taiwan Funmaii co-founder Brian Wee says the shopping experience is centered on an all-in- one mobile app. Besides its e-wallet capabilities, the app also allows customers to track their expenses and redeem rewards in the form of discount vouchers, extra credit and rebates.

    Meanwhile, Funmaii is about to introduce three types of convenience stores: Basic, Signature and Concept. Funmaii Basic stores offer cashless convenience and small seating areas, while Funmaii Signature stores also feature a “chillout” area for small events. Through partnerships with various brands, Funmaii has plans to set up Funmaii Concept stores that will feature an array of products and services not typically found at convenience stores, including dessert and coffee bars, and also fashion and beauty.

    “We have an aggressive ambition to grow our network of Funmaii branded stores and kiosks, not only in Malaysia but also in Southeast Asia, including Singapore and Indonesia,” says Wee. “We plan to open around 30 outlets over the next 12 months and ultimately have 100 outlets by the end of next year.”

    He says Funmaii also plans to install 10,000 vending machines in major shopping malls around Malaysia in the next three years.

  • Axiata share price down slightly after buying stake in Sri Lankan data centre firm

    Axiata share price down slightly after buying stake in Sri Lankan data centre firm

    Axiata Group Bhd’s share price fell 0.18% this morning following news that its unit is acquiring a 35% stake in data centre company Digital Reality (Private) Ltd (DRPL) for 262.5 million Sri Lankan rupees (RM6.55 million) cash to form a data centre business in Sri Lanka.

    At 11.08am, Axiata stood at RM5.48 with 882,800 shares changing hands.

    The group yesterday said Dialog Broadband Networks (Private) Ltd (DBN) has entered into a deal with St Anthony’s Property Developers (Private) Ltd (SAPD) for the stake acquisition.

    DBN, which is Sri Lanka’s second largest fixed telecommunications provider, is a wholly owned subsidiary of Dialog Axiata Plc which in turn is an 83.32% subsidiary of Axiata.

    SAPD is a member of St Anthony Group and is the main developer of Sri Lanka’s largest privately held IT park, “Orion City”.

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  • It’s business as usual at Sa Sa Malaysia

    It’s business as usual at Sa Sa Malaysia

    Cosmetics retailer Sa Sa may have seen the closure of its Taiwan operations recently, but the move is not expected to affect the Malaysian business under Hong Kong Sa Sa (M) Sdn Bhd (Sa Sa Malaysia), said Sa Sa regional general manager for Malaysia & Singapore business Lisa Soon.

    “Sa Sa Malaysia is operating a total of 75 stores in Malaysia and still has plans of expanding our network nationwide in providing the best offerings of beauty products and brands internationally to our shoppers,” Soon said.

    Last month, its Hong Kong-listed parent Sa Sa International Holdings Ltd announced that it will close all its stores in Taiwan by March 31, 2018 after six consecutive years of losses, affecting 260 employees.

    With the closing of its loss-making operations in Taiwan, the group said it will concentrate on its other markets including mainland China, Hong Kong, Macau, Singapore and Malaysia markets as well as its e-commerce business.

    As at Jan 31, 2018, the retail network of Sa Sa consists of Hong Kong & Macau (118 stores), mainland China (55 stores), Singapore (19 stores), Malaysia (75 stores) and Taiwan (21 stores), all of which are solely owned and operated by the group.

    Established in 1978, the cosmetics retailing group opened its first store in Malaysia in 1998.

    According to Sa Sa International’s interim report 2017/2018 (six months ended Sept 30, 2017), the turnover for the Malaysian operations was HK$169.3 million (RM84 million), an increase of 9.2% in local currency terms over the previous period. Same-store sales growth rose a modest 1.1% in local currency.

    It noted that the reason for the conspicuous slowdown in same-store sales growth was weaker demand and purchasing power of local consumers amid the rising cost of living as a result of inflation. However, the group maintained its focus on continuous improvement with a readiness to capitalise on market recovery as and when opportunities arise.

    For the six months ended Sept 30, 2017, the Malaysian market contributed 4.6% of the group’s total turnover. The bulk of Sa Sa’s turnover comes from Hong Kong & Macau (81.5%), while the rest are from e-commerce (4.9%), mainland China (3.8%), Singapore (2.7%) and Taiwan (2.5%).

    Filings by Sa Sa Malaysia showed it posted a profit after tax of RM6.09 million for the financial year ended March 31, 2017, with revenue of RM181.52 million.

    In Malaysia, Sa Sa said it is the leading beauty specialty store in terms of number of stores and coverage. In recent times consumer sentiment has shown signs of a slowdown, necessitating a “comparatively conservative development strategy”.

    Sa Sa will continue to adjust its product portfolio and services to accelerate its penetration of the Malaysian market, it said.

    Adopting a “one-stop cosmetics specialty store” concept, Sa Sa sells more than 700 brands of skincare, fragrance, make-up and hair care, body care products, health and beauty supplements including own-brands and exclusive products. The group’s e-commerce arm sasa.com provides online shopping service to customers.

    On its business strategy, the group said with its global purchasing and sourcing capabilities, often buying in large quantities to increase bargaining power, Sa Sa manages to offer a wide selection of quality products at competitive prices. Its market leadership reflects its innovative retailing formula based on choice and convenience, it added.

    The group, which had a total workforce of around 5,000 employees as at Sept 30, 2017, considers employee training as crucial to the continued success of its operations and business expansion

  • AirAsia in talks to set up airline serving Myanmar

    AirAsia in talks to set up airline serving Myanmar

    AirAsia Bhd is in talks with a potential partner to open an airline serving Myanmar, in a move that would help the low-cost carrier cover up to 95% of the Southeast Asian travel market.

    In an interview with Reuters today, the airline’s group chief executive Tan Sri Tony Fernandes said he also expected AirAsia’s Vietnam joint venture to be flying by October.

    AirAsia now has businesses in Malaysia – its home – along with India, Indonesia, the Philippines, Japan and Thailand, as well as plans to launch an airline in China.

    “Once you’ve covered Vietnam and Myanmar, you’ve got all the big (Southeast Asian) populations,” Fernandes said. “Vietnam – we’re talking about October, we’ve had great support from the Vietnam government and we have a great partner. My team are very bullish.

    “It’s not going to be a big airline there (Myanmar), because the airport infrastructure is not there. But it is 50 million people and it will develop over time,” said Fernandes, who was in Sydney over the weekend for the Asean-Australia special summit.

    He added: “We had a good meeting with someone in Sydney – he’s got a good airline that we’ve known for a long time and he is a well-respected guy. We’re going through that process.”

    He did not name the potential partner.

    Fernandes was in Hong Kong for the launch of what he has termed a “We’re More Than an Airline” pitch, which he was due to present to analysts and investors at Credit Suisse’s Asia Investment Conference.