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Tag: Market

  • Chinese Automaker Geely Auto Scraps STAR Market Listing Plan

    Chinese Automaker Geely Auto Scraps STAR Market Listing Plan

    China’s Geely Automobile Holdings Ltd said on Friday it is dropping plans to list new shares on the mainland’s Nasdaq-like STAR Market.

    Zhejiang-based Geely Auto, China’s highest-profile automaker thanks to parent Zhejiang Geely Holding Group’s investments in Daimler AG and Volvo Cars, is listed in Hong Kong with a market capitalization of HK$255 billion ($32.85 billion).

    In September, Geely Auto said in a filing that it planned to raise 20 billion yuan ($3.10 billion) from the STAR Market listing.

    Geely Auto is aiming to sell over 1.5 million vehicles this year. It also said would seek external funding for its newly-launched electric Zeekr brand.

    In February, Geely Auto said it abandoned the merger plan with sister company Volvo Cars.

  • Ex-J.P. Morgan Exec Joins UBS Private Markets Unit

    Ex-J.P. Morgan Exec Joins UBS Private Markets Unit

    UBS Global Wealth Management has hired a former J.P. Morgan executive to join its direct investment group.

    Edith Chan joins UBS Global Wealth Management as its Greater China head of direct investment group distribution, according to an internal memo effective June 21. A spokesperson for the bank confirmed the hire.

    Chan rejoins the Swiss bank after previously serving in a similar role as its Greater China head of private markets distribution. She was most recently with J.P. Morgan where she also focused on private markets between 2018 and 2020. She previously worked with various private banks and asset managers including HSBC Private Bank and Deutsche Bank.

    UBS’ direct investment group focuses on investing in private companies via direct participation in primary and secondary equity share placements.

    It is also active in private debt and credit placements as well as real estate and infrastructure funds.

    UBS sources such deals globally from its investment bank, asset manager, and network of blue-chip financial sponsors.

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  • The role of telecoms in a growing big data analytics market

    The role of telecoms in a growing big data analytics market

    In today’s data-driven world, more organizations are investing in big data analytics to improve business performance and build business resiliency as the world experiences unprecedented digitalization.

    According to IDC, big data and analytics (BDA) spending in the Asia-Pacific region, has been on the rise. In 2020, revenue for BDA solutions reached US$22.6 billion, representing a growth of 12% from the preceding year. IDC predicts that this revenue will grow with a five-year CAGR of 15.6% for the period from 2019 to 2024.

    Banking is the top vertical leading the overall BDA market, followed by the telecommunications sector, where big data analytics has been applied to predictive customer churn analysis, for instance.

    Since telecom operators handle billions of records every day, the use of big data converts raw data into meaningful insights that are valuable to enterprises and the government.

    In the region, China accounts for the largest share of the BDA solutions market, driven by banking and state and local government. Even Chinese factories have turned to big data to focus on the domestic market when exports were disrupted last year. When overseas demand dropped and China was at the height of the pandemic, factories turned to e-commerce giants like Alibaba and JD.com to track consumer behaviors. Within just three months, Alibaba successfully helped 300,000 Chinese export factories to focus on local consumers.

    To secure tech supremacy, China is investing heavily in emerging innovations. Last month, China’s state media announced a US$3 billion plan to build a supercomputing center to analyze data obtained from space by the end of the year. The center will provide big data services for industries such as the aerospace and marine sectors as early as next year.

    Taking cues from the central government, companies are also investing in big data. Last month, tech giant Tencent and venture capital firm Sequoia China led a US$25 million funding round in a Chinese big data startup to capitalize on global digitalization efforts.

    In Malaysia, where big data analysis is still in its early stages, IDC has forecasted that the BDA market will grow from US$1.1 billion in 2021 to US$1.9 billion in 2025. In this research commissioned by Malaysia Digital Economy Corporation (MDEC), findings show that the services sector will dominate the BDA market, contributing 64% of total spending, followed by banking and telecommunications, with both contributing to a third.

    Malaysia has plans to become a regional data hub leader, with capabilities such as big data, IoT and AI. Last month, Microsoft announced that it is establishing its first data center in Malaysia’s Greater Kuala Lumpur area. Estimated to cost US$1 billion, this investment is expected to create 19,000 jobs and generate US$4.6 billion in revenue for Malaysia.

    New revenue sources across sectors
    Amid big data growth and advances in big data analytics, global telecom operators are well-positioned to take advantage to compete. Apart from transforming customer experiences within to reduce customer churn and improve operational efficiency, the telecommunications industry is in a unique position to mine the sheer volume of data for other sectors as data becomes a key differentiator to stand out among the competition.

    Insights into big data present telecom operators’ monetization opportunities when offered to organizations across increasing industries that are recognizing its perks. Such industries include logistics and shipping, as well as the retail industry.

    In the logistics industry, for instance, historic data and pattern analysis that take into consideration seasons and cycles can be used for predictive analytics. Insights from data can be used to predict future volumes, route planning using real-time analytics on weather and traffic conditions for route optimization, and more efficient dispatch of transportation vehicles to prevent delays. Predictive analysis also enables robotic systems to scale inventory management in warehouses as needed. Essentially, big data analytics offers visibility and transparency throughout the supply chain so that firms can better respond to immediate real-time information for smoother operations.

    Big data also promotes client segmentation and target marketing to attract and retain existing clients in the retail sector. For example, telecom operators can run analytics on consumer data that are sought after by retailers to enhance existing targeted marketing campaigns. More specifically, behavior analytics carried out by telecom operators can help retailers connect with their buyers both online and offline and decide if it is worthwhile opening a store or franchise in a particular precinct.

    Given that the telecommunications industry is inextricably linked to organizations in today’s digital age, data-driven insights are an important driver for the continued relevance and prosperity of organizations across diverse sectors. The onus is on telecommunications operators to tap on this growth area.

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  • Vietnam largest gold market in Southeast Asia

    Vietnam largest gold market in Southeast Asia

    Vietnam is the largest gold market in Southeast Asia and among the top 10 markets in the world, a recent study has found.

    Last year consumer demand in Vietnam was 39.8 tons, higher than Indonesia’s 37.6 tons and Singapore’s 9.4 tons, according to the World Gold Council (WGC).

    Gold is the top asset class for 68 percent of Vietnamese investors, it said citing a study of 2,000 investors in March last year.

    The outlook for the precious metal is positive with 81 percent of people who bought gold in the past considering buying more, nearly twice the global average of 45 percent.

    Seventy-six percent supported opening a gold investment account at banks to formalize the gold market. Currently, most buy gold at shops.

    “Research shows demand for gold in Vietnam is strong and there is support to develop new investment products such as buying gold through digital platforms or opening a gold investment account,” Andrew Naylor, director in charge of ASEAN at the World Gold Council, said.

  • Bright prospects seen for Vietnam property market

    Bright prospects seen for Vietnam property market

    Economic stability, positive investor sentiment, strong demand, and a diverse range of products are keeping the property market robust. The assumption that Covid-19 would cause the market to slump has proven baseless, and market research aftermarket research shows property prices increasing across the board.

    Vietnam’s bright economic prospects and strategies adopted by many major property developers also contribute to the market’s strength.

    According to the World Economic Outlook Report, a survey by the International Monetary Fund (IMF), in 2020 Vietnam’s economy grew at 2.4 percent, one of the four highest rates in the world. Its effective anti-epidemic strategy and economic growth are expected to be highlights this year too. Fitch Ratings forecast Vietnam’s GDP to grow at 7.5 percent even of there is a new outbreak.

    “Vietnam has well-controlled the pandemic, so we think the economy will recover when domestic demand bounces back,” Sagarika Chandra, head of Vietnam analysis at Fitch Ratings, said.

    Nguyen Xuan Thanh, a Fulbright University lecturer and member of the prime minister’s Economic Advisory Group, said the positive investor sentiment despite the Covid-19 crisis is driven by the stable economy and sound financial system.

    The belief that everyone would surely get vaccinated this year further strengthens investor sentiment, he said.

    “Stocks and real estate are still good investments.”

    The market has seen a geographic shift from areas such as HCMC. If in the past the most important southern market was Saigon, it is now its satellites such as Binh Duong, Dong Nai and Long An provinces and others with tourism potential such as Binh Thuan, Ba Ria – Vung Tau and Khanh Hoa.

    Bui Nguyen Huyen Trang, senior director for Vietnam at JLL, stressed the importance of property developers in construction and urban planning.

    “They must carefully study urban planning to create sustainable value for their large-scale projects.”

    During Covid-19 times, businesses with strong foundation, offering a wide range of products towards demand for home ownership would have more opportunities to succeed.

    The eastern part of Ho Chi Minh City is forecast to be a property hotspot, when Thu Duc City has been officially established, pushing housing prices in this area to record levels.

    With rapidly improving infrastructure that boosts regional connectivity, satellite towns and tourist cities in Binh Duong, Dong Nai, Ba Ria – Vung Tau, and Binh Thuan are of immense interest to investors.

    Terence Alford, director of capital markets and investment services at Colliers Vietnam, said developers tend to search for alternative locations to HCMC to increase value.

    They also focus on creating living spaces to not only increase choices for customers but also contribute to improving the quality of life, setting new trends and offering new life experiences.

    Novaland, a property developer, has recently released its financial report. In 2020 the company achieved profit after tax of VND3.91 trillion, 7 percent higher than it targeted and up 15.3 percent from 2019.

    Total consolidated revenues from sales of units and projects and services were VND8.6 trillion. As of December 31, 2020, Novaland’s total assets were worth VND144.54 trillion, an increase of 60.6 percent from a year earlier.

    In 2020 Novaland disbursements were allocated for M&A activities and project development. The company continues to raise funding from reputed financial institutions at home and abroad despite Covid-19, showing the trust in which it is held by partners.

    Novaland introduced new products in the last few months of 2020. Despite pandemic impacts, resort real estate projects such as the NovaWorld Phan Thiet and NovaWorld Ho Tram still drew great attraction.

    Experts do not foresee the property market crashing this year despite an increase in price levels, but instead expect it to remain strong due to strong demand, economic growth and stability and businesses’ clever strategies.

    In a recent report titled ‘Ready for a new cycle from 2021,’ VNDirect Securities Company said Vietnam’s property market has a seven-year cycle.

    In 2021 it is getting ready to enter a cycle of high growth amid positive factors such as amendments to the 2020 Construction Law and 2020 Investment Law and a forecast of solid economic growth this year.

    “The development of infrastructure and lower mortgage interest rates will have a direct impact on the real estate market. The upward trend in prices will continue due to the growing demand for housing,” VNDirect added.

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  • Real-World Examples of Text Analysis and AI-Driven Market Research

    Real-World Examples of Text Analysis and AI-Driven Market Research

    AI and text analysis is being incorporated into every aspect of life. On social media, entertainment, work, marketing, and sports, automation is becoming more “human.” The result is less time spent doing tedious tasks and more energy to focus on developing ideas and drafting new strategies. The following are examples of where AI and text analysis is creating an impact.

    Real Estate

    AI-driven market research and text analysis are making it easier to find and sell properties/ There is a significant amount of data to analyze before making a real estate investment, including the potential value of the property, market in the area, KPIs, and characteristics of the property. Getting the data together isn’t difficult, but the challenge is analyzing it to inform investment decisions.

    Property managers are discovering the benefits of AI in calculating assets, finding information about a property’s environmental footprint, and updating portfolios. An AI algorithm predicts future market value by looking at recent numbers and considering other factors such as changing prices in the area, crime rates, transportation, and schools.

    The number of data points required for analyzing property can be overwhelming.  AI technology organizes the information, sorts of relevant points, analyze the data, and updates existing information. AI also assists in creating in-depth property analysis for clients. It also makes property management easier with automatic updates on when things should be repaired, tenant information, and price trends.

    Real estate agencies and sites use chatbots to directly interact with potential buyers and sellers and collect useful information. For instance, if a visitor to a website or a social media page clicks on a link, they can immediately interact with a chatbot that answers questions and requests email addresses or  Whatsapp numbers of potential buyers and sellers.

    Market Research

    The amount of consumer data available online is a boon to market research. However, given the sheer enormity of social media updates and reviews, gathering and analyzing this information creates a significant challenge. AI-driven market research tools take unstructured user-generated content and create actionable data.

    AI and text analysis tools perform sentiment analysis, evaluating social media updates and reviews for emotional coloring, tone, and word choice. Machine learning associates certain words and phrases with emotions and gives each text a rating from very positive to very negative and in-between. These ratings are combined and compared to provide an overview of how consumers feel about a product or brand.

    The advantage of AI and text analysis is that it deals with direct feedback from customers rather than second-hand data from financial reports or company-generated resources. The main focus is the customer, and information about their preferences is the most relevant information. Market forecasts attempt to predict what consumers will want. Text analytics allows customers to customers to say they want directly to companies.

    Workplace

    AI in the workplace is at its early stages but is poised to grow rapidly. According to a Deloitte survey, 41% of businesses replied they are using automation extensively throughout their operations. Some examples of these tasks are ones that involve simple decisions, such as customer service chatbots that respond to specific queries according to set FAQ responses.

    In many cases, these automated tasks are not meant to replace the workforce. Still, they eliminate routine tasks so employees can spend their energy on tasks that require complex thinking or intricate decision making. For instance, a loan agency may use automated tools to calculate simple loans, but those that involve multiple factors are still dealt with by humans.

    Sentiment analysis is also used in the workplace to gauge how employees feel about their jobs, areas where they may need assistance, and where their morale is at its highest and lowest point. Public company chats and forums can yield user-generated data that can be evaluated by the human resource department using sentiment analysis tools. Besides, responses to memos can uncover between the lines how employees really feel about a new policy or launch.

    Sports

    Given the affection for numbers and statistics in sports, it is a natural area for AI to flourish. The success of data-driven strategies was seen in the 20 game-winning streak of Oakland Athletics in 2002 as depicted in the film Moneyball. The team applied data-driven strategies to players’ individual statistics and, through analytical tools, positioned each player according to his attributes. The result was an overwhelming success against rivals who had much larger budgets.

    AI is tremendously useful in scouting and recruitment. Statistics about players, such as the number of home runs or other performance data, can be calculated with AI tools to measure potential. AI also monitors training regimens and can personalize a diet, workout, and practice schedule suited to each player. AI uses performance indicators to evaluate how players are improving and where they need to improve.

    AI and Text Analysis Are Everywhere

    Smart AI technology is powering everything from the chatbot at a favorite website, communications at work, real estate investors’ calculations, and even draft picks for a favorite team. These tools aim to complete tasks more quickly and efficiently and offload monotonous jobs to automation to concentrate on the main task. Since automation saves money and time, it is being adopted rapidly and will continue to create value.

     

     

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  • Covid-19 shadows as Hanoi real estate market recovers

    Covid-19 shadows as Hanoi real estate market recovers

    Most real estate classes in Hanoi showed recovery signs in Q4 2020, but Covid-19 uncertainties continue to loom over the market this year.

    The retail category saw total supply in the last quarter increasing 1 percent year-on-year to 1.6 million square meters with the launch of the 36,000-square-meter Vincom Mega Mall Ocean Park in the eastern part of the capital, according to a report released Tuesday by real estate consultancy Savills.

    However, average rents fell 3 percent year-on-year, while occupancy dropped 2 percent, showing that Covid-19 impacts remain on the market.

    “Footfall is slowly recovering but yet to return to pre-pandemic levels with impulse and extravagant spending limited to increase savings,” the report said.

    The office category saw supply rising 6 percent year-on-year and average rent up 3 percent with growth in demand from companies in services, information and communications technology and e-commerce.

    By next year, around 208,000 square meters from 15 projects will enter the office market. But as the Covid-19 pandemic has prompted companies to downsize and reduce operating costs, the downward trend in office space demand is set to continue, the report said.

    The apartment category saw sales rising 27 percent from the third quarter to 6,700 units, but the figure was 37 percent lower year-on-year.

    “Local demand remains steady, particularly for affordable units. Developers have started focusing on the suburbs and surrounding provinces,” the report said.

    Savills forecasts that average asking prices, which have increased 4 percent per annum over the last five years, is set to continue rising thanks to infrastructure upgrades, including two metro sections and ring roads.

    This year, around 25,000 units are set to enter the market, most of them Grade B. Fifty-seven percent of the new supply will be in the districts of South Tu Liem and North Tu Liem.

    The hotel category, which suffered the biggest Covid-19 damage as international arrivals plunged, saw occupancy recovering by 12 percentage points quarter-on-quarter to 33 percent, against 75 percent in the last quarter of 2019.

    Do Thu Hang, senior director of advisory services at Savills Hanoi, said many hotels downtown have been successful in attracting more domestic customers as the number of foreign tourists dropped.

    As Hanoi expects to receive 11-15 million domestic tourists this year, compared to 8 million last year, it is likely that hotels will continue to focus on the domestic segment as the resumption of regular international routes is uncertain, she added.

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  • Stock market raises standard trading lot to 100 to cope with overload

    Stock market raises standard trading lot to 100 to cope with overload

    The Ho Chi Minh Stock Exchange is set to raise the minimum number of shares that can be transacted in order from 50 to 100.

    It had planned to effect the change on January 18, but after testing and interaction with securities companies it has decided to advance it by two weeks to January 4 “if everything goes smoothly,” a bourse spokesperson said.

    Currently investors wanting to trade odd lots of 1-49 shares have to transact with securities companies instead of on the exchange.

    HoSE executives said securities companies are keen to make the switch and willing to speed it up.

    A standard lot of 100 is the norm in many countries in the neighborhood such as SET (Thailand), BM (Malaysia), and SGX (Singapore) consistent with international practices and reasonable given the current market conditions, HoSE said.

    The larger lot size is expected to reduce the load on the system at a time when market liquidity is at historic highs. Between December 17-28, the exchange had to halt trading completely for short periods of time as volumes approached VND14 trillion ($606.14 million).

    Le Hai Tra, head of its board of directors, said at a press conference last week that the exchange was receiving 3-12 times higher volume of orders than before.

    Although the system has backup capacity, it cannot cope with this sudden surge immediately, he explained.

    Before Covid-19 caused other asset classes such as property to lose their charm and redirected cash into securities, HoSE saw average daily trading of VND3-5 trillion.

    But in the last two months, it has surged to VND12-14 trillion as the benchmark VN-Index kept rising and approached the 1,000-point mark, a threshold it struggled to cross in the last two years.

    The VN-Index on Wednesday shed 0.18 percent to close at 1,097.54 points. Trading was worth VND13.5 trillion.

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  • Online shopping in Singapore soars in Covid-19’s shadow

    Online shopping in Singapore soars in Covid-19’s shadow

    Online shopping in Singapore has surged since the outbreak of the coronavirus pandemic.

    Research from data and analytics firm GlobalData suggests the effect on the country’s e-commerce market will be long-lasting, estimated to reach US$9.5 billion this year. Previously, e-commerce grew at a compound annual growth rate of 15.4 percent between 2015 and 2019 to reach $6.2 billion last year.

    “The pandemic, which triggered fear of contamination, has resulted in a change in consumer buying behavior,” said GlobalData banking and payments senior analyst Sowmya Kulkarni. “Shopping centers are now being avoided and consumers are choosing online platforms for their day-to-day purchases.”

    A separate data-driven analysis of Covid-19’s impact on the digital behavior of Singapore consumers undertaken by multinational professional services firm Accenture predicts Singapore’s new digital economy will amass nearly $500 million.

    “The scale of the changes identified in our findings suggest a clear shift in Singapore’s consumer behavior and consumption, impacted by Covid-19 measures,” said Lee Joon Seong, an Accenture MD. “There is a strong likelihood that the shift will persist into phase one of the post-Circuit Breaker period and beyond, as movement restrictions and consumers cautions remain.

    “In the long run, he says, such shifts represent huge opportunities for online shopping in Singapore. “Companies that accelerate their digital capabilities to stay relevant to digital consumers will be able to seize opportunities and emerge victorious as we move into a post-Covid-19 world.”

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  • JK Tyre Announces Entry Into The US Market

    JK Tyre Announces Entry Into The US Market

    JK Tyre & Industries Ltd. today announced the commencement of operations in the United States. JK Tyre has set up a new entity – Western Tires INC – based at Houston, Texas, thereby, embarking upon an aggressive plan to take the Global business to the next level. The company, headquartered in India, has been exporting to the United States for over two decades through a network of local partners and with the acquisition of JK Tornel and enhancement of capacity at JK Tyre India, there has been a steady growth in the global markets including the US. With the formation of the Western Tires INC, the company now has its own marketing arm for the United States that will focus on sales, service and network expansion. To ensure an efficient delivery model, the after-sales service will be backed by a team of technical experts from India and Mexico.

    Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Ltd. said, “The United States has been an important export market for us. The fact that we are now setting-up our operations here goes to show the significance of this country in our larger global expansion plans.”

    JK Tyre’s product performance has helped the company gain acceptance in the US market across multiple segments, such as Truck and Bus Radial tires, passenger car tires and light truck tires. The company is focused on further driving sales in these segments through the introduction of new products and enhancement of sales channels.

  • Alibaba has refined and expanded its Freshippo New Retail concept

    Alibaba has refined and expanded its Freshippo New Retail concept

    Unmanned checkout kiosks, mobile-scanned product details, fast-running fulfillment conveyor belts – these are just some of the features engaging customers at Freshippo, the New Retail-powered supermarket by Alibaba.

    Since launching in 2016, the chain has brought grocery shopping into the digital era and has soared in popularity with Chinese consumers thanks to its mobile-first shopping experience, 30-minute delivery options and a vast selection of products, including live seafood with cook-in-store options. Within a few years since creation, Freshippo has expanded to about 200 stores.

    To expand its reach and capabilities in China, Freshippo has been experimenting with new store formats that cater to the needs of different consumers across the country. While the original supermarket concept remains at the heart of most Freshippo locations, the chain started to introduce new shopping experiences to its portfolio about two years after its initial launch.

    The Freshippo brand now includes everything from convenience stores and breakfast pick-up stations to even a shopping mall. As a sign of just how quickly Alibaba is moving, five out of the six new store formats were launched last year alone.

    By adapting to local shopping habits and needs, Freshippo’s new store formats allow the chain to expand its digitally enabled grocery-shopping experience to more segments of consumers, all with the same mobile app.

    For example, Freshippo Farmers’ Markets cater to more price-sensitive consumers living in residential neighborhoods on the outskirts of top-tier cities. Similar to a traditional farmers’ market, there is fresh produce sold in bulk and daily essentials, but the experience is also upgraded with digitally enriched features and 30-minute delivery services.

    Meanwhile, in lower-tier cities, where high-quality products are less accessible, Freshippo Mini stores – at approximately 300-500sqm, or about one-tenth of the size of a regular Freshippo store – are designed to be set up to quickly scale to address the rising consumption demand of lower-tier markets in China without a significant investment of capital.

    There’s also Freshippo Station, which fulfills fresh-produce orders for residents living in urban residential areas where Freshippo supermarket stores are not yet available. The station’s focus on fresh produce and a hyper-local delivery radius of 1.5km are designed to meet Chinese consumers’ demands for frequent, fast and fresh deliveries.

    Other versatile formats, such as Freshippo F2 and Freshippo Pick’n Go, complement the original New Retail supermarket concept by providing customers with ready-to-eat foods. Freshippo F2, short for “Fast and Freshly Made,” offers lunch boxes and snacks for office workers in central urban business areas. Freshippo Pick’n Go is a breakfast stand that sells on-the-go Chinese and Western breakfast foods all day, addressing the demand by busy urban residents in China for quick and tasty take-out options.

    Having amassed a loyal following of Chinese consumers since its launch, the brand’s latest experiment, Freshippo Mall, expands the brand’s digital experience beyond food to address the full spectrum of consumers’ everyday needs.

    The first Freshippo Mall opened in Shenzhen last November and is a 40,000sqm complex that provides everything from retail, entertainment and dining to education and cleaning services.

    There are currently close to 60 tenants, including clothing shops, restaurants, drug stores, grocers, beauty parlors and recreational facilities for children – all connected through the Freshippo app, which offers consumers a digital discovery journey, mobile checkout and one-hour delivery within a 3km radius.

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  • SE Asian smartphone sales down

    SE Asian smartphone sales down

    Southeast Asian smartphone sales rose last year, bucking the global trend, according to new data from market research house GFK.

    Sales in the region rose by 1 percent last year to US$23 billion, amidst a 2-per-cent decline internationally, as global consumers tended to hold onto their phones longer. Around 97 million devices were purchased in Southeast Asia.

    Growth was particularly high in Malaysia, Singapore, and Thailand, with Thai consumption showing a significantly higher value over volume growth, at 13 versus 6 percent. The Philippines saw slightly more conservative growth, while Vietnam and Indonesia were the only Southeast Asian smartphone sales markets showing a moderate decline.

    “Over the years, consumers in the region have always been showing keen interest when it comes to mobile handsets, with many owning more than one set or changing their smartphone frequently,” said GFK associate director Alexander Dehmel. “It should be highlighted that the higher value over volume growth recorded in the Southeast Asian smartphone market indicates that consumers are upgrading their devices – a trend that has been observed in recent years.”

    Another recent GFK report showed 64 percent of respondents in Indonesia believe their smartphone/tablet is their most important online shopping tool. More than half (58 percent) said they prefer to use their mobile device to pay for transactions.

    Consumers are also tending to buy phones with better cameras and more on-board storage to accommodate more media.

    With the launch of Singapore’s high-speed 5G network expected for this year, the market is likely to be influenced by multiple promotions around new 5G smartphone models.

    “Under normal circumstances, we would expect to see a market performance in the region continuing its upward trend with even bigger and better phones being launched to satisfy consumers’ insatiable appetite for new devices,” said Dehmel.

    However, he said the COVID-19 situation will temporarily affect Southeast Asian smartphone sales and even global sales. “The impact of the coronavirus on global supply chains and production capacities along with weaker demand is likely to slow but not stop the growth of the category in Southeast Asia.”

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  • Jasons Food Hall at Bangsar to be replaced by new Food Purveyor concept

    Jasons Food Hall at Bangsar to be replaced by new Food Purveyor concept

    The Jasons Food Hall at Bangsar shopping centre in Kuala Lumpur is set to be replaced by a new concept from the country’s fast-growing independent grocery retail group The Food Purveyor.

    Geoff King, The Food Purveyor’s CEO, told Inside Retail Asia that his company hopes to take over the fixtures and the store space before the Jasons lease expires on March 22, “but that depends on landlord consent and the cooperation of the previous tenant”.

    “We hope to be up and trading before the 23rd,” he confirmed.

    The Food Purveyor owns the supermarket chain BIG (Big Independent Grocer) which recently opened new outlets at the Toppen Centre in Tebrau, Johor Bahru, and at the Mall of Medini.

    As Inside Retail Asia reported last week, Jason’s will close its only store in Malaysia after 20 years. A spokesperson for the store’s parent, Dairy Farm International’s Malaysian joint-venture subsidiary Giant, said it had failed to renegotiate a lease on satisfactory terms and was closing Jasons Food Hall at Bangsar with regrets.

    “After months of negotiations, we are very disappointed that we have been unable to come to a mutual and workable agreement with the landlord to renew the lease,” a Giant spokesperson said in an email.

    King says a final decision has not been made on the brand the new store will trade under, but it will be a premium offer in keeping with the suburb’s demographic, which includes a large expat population.

    “The store range and prices will belong to the BIG format but we will be adding some extra touches and features befitting the location and likely launch with a unique name,” he said.

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  • Bangkok’s Chatuchak mall opens in Singapore

    Bangkok’s Chatuchak mall opens in Singapore

    Bangkok’s world-famous Chatuchak Market has launched a satellite site in Singapore.

    A 40,000sqft pop-up market located at The Grandstand on Turf Club Road, it marks the first time Chatuchak has been convened outside of Thailand.

    The market opened this week and will remain trading until May 3.

    More than 400 vendors are trading at the market, some rotated in from the original open-air market in Thailand.

    While Bangkok’s market is only open during weekends, Chatuchak Singapore will trade from 4.30 pm to 10.30 pm every day except Monday.

    Thai street food is being sold at the market for visitors seeking an authentic Chatuchak experience – while apparel, accessories and jewelry are among the goods on offer at stalls.

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  • Global Christmas break can boost Vietnam stock market

    Global Christmas break can boost Vietnam stock market

    Global stock markets closing for Christmas break on Wednesday could reduce selling pressure from foreign investors and help the VN-Index recover, analysts say.

    With foreign investors have been net sellers for the majority of sessions in December, the Christmas break could ease selling pressure and help the VN-Index reach 958-961 points in the first few sessions this week, according to a report from Bao Viet Securities (BVSC).

    Vietnam’s benchmark Index closed at 956.41 points on Friday, having risen 0.44 percent with most blue chips stocks in the green, despite a foreign net sell of VND340 billion ($14.66 million).

    If the stock market can rise above 960 points, a psychological threshold, the market could enter a recovery phase, potentially rising up to 980-985 points in the near future, BVSC said.

    Although the VN-Index had plunged from 1015.59 points to 956.41 points in the last two months, downward momentum had slowed down in the past two weeks. It lost only 10 points in the last two weeks, and neared the 950 support level many times but never fell further.

    The market is also beginning to show positive signals at the end of the year, considered a peak time when exchange-traded funds (ETFs) restructure their portfolios and futures contract mature, according to analysts.

    For instance, liquidity on Friday session reached VND3.39 trillion ($146.13 million), the highest level in the last two weeks, most recent sessions recording net buys from domestic investors, with the VN-Index hovering above the opening for the duration of these sessions.

    However, liquidity remains relatively low to averages of previous months, showing that investors are still cautious and it will be difficult for the market to make a breakthrough in the last sessions of the year, according to BVSC.

    After this week, Vietnam’s stock market will have two last sessions for 2019. Many analysts have released reports focusing on long-term drivers for the market, with positive stimulus expected from amendments to Public Investment Law due next year, the U.S.-China reaching a trade agreement, and Vietnam’s steadily growing macroeconomic indicators.

    Vietnam’s economy is estimated to expand by 6.8 percent this year, with a continued trade surplus and declining public debt, according to the latest report by the World Bank

    Asian Development Bank this month revised its GDP growth forecast for Vietnam from 6.8 to 6.9 percent in 2019.

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