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Cosco Shipping Sets Sights on Southeast Asia: Plans Expansion in Vietnam and Indonesia Amid Growing Trade Demand

Cosco Shipping International (Singapore) is setting sights on increased investment in Vietnam, Malaysia, and Indonesia within the next three to five years, in anticipation of a surge in Southeast Asian trade. The firm’s president, Jiang Kai, expresses a robust sense of assurance in the potential of the Southeast Asian market.

Cosco Shipping International, the logistic subsidiary of the Chinese state-owned maritime behemoth China Cosco Shipping Corporation, is currently listed in Singapore. The company generates its consolidated revenue primarily from its operations in Singapore and Malaysia, with the city-state contributing to approximately 87% of the total. The firm also has a vested interest in logistical enterprises in Indonesia and Vietnam, along with a share in a dry-bulk shipping associate that operates throughout the region. These affiliated firms provide about one-fourth of the group’s pre-tax profit, as witnessed in the latest financial results for the first half of 2026.

Resilience Amid Global Trade Uncertainties

Global trade has witnessed a few turbulent years, with factors such as U.S. tariffs and geopolitical instabilities in Ukraine and Iran causing disruptions in shipping routes and supply chains. However, manufacturing activities continue to show resilience in Southeast Asia, notes Jiang. There is also an observed revival in the region’s dry-bulk shipping market, which deals in the transportation of industrial raw materials like coal and iron ore, as manufacturing activities gain traction.

The demand for specialized cargo shipping, catering to industrial machinery, vehicles, and new energy equipment, is also on the rise, mirroring the region’s progression. “The expansion in Southeast Asia’s shipping industry has resulted in a steady surge in logistics demand,” says Jiang. He adds that many Chinese manufacturing firms, when exploring overseas markets, often consider Southeast Asia as a preferred manufacturing base, a trend that spells long-term benefits for Cosco.

In the first half of the year, Cosco Shipping International recorded a 6% rise in revenue to SGD96.8 million (US$76 million), propelled by increased contributions from logistics, ship repair, and marine engineering. The company is also expanding its footprint in Singapore. One of its prominent ongoing projects is the Jurong Island Logistics Hub Phase II.

This project, the company’s most significant investment in Singapore, promises enhanced integrated logistics services and is projected to be completed in the fourth quarter of this year.

Questions & Answers

What is Cosco Shipping International’s plan over the next three to five years?
They are planning to increase investment in Vietnam, Malaysia, and Indonesia in anticipation of a surge in Southeast Asian trade.

What is the primary source of Cosco Shipping International’s consolidated revenue?
The majority of the company’s consolidated revenue comes from operations in Singapore and Malaysia, with Singapore contributing about 87%.

What trends are observed in the Southeast Asian dry-bulk shipping market?
There is a recovery observed in Southeast Asia’s dry-bulk shipping market, with increasing demand for the transportation of industrial inputs such as coal and iron ore, as manufacturing activity strengthens.

August 18, 2026
Shein Stumbles in UK Copyright Court Battle Against Temu amid IPO Plans

Online fast-fashion retailer Shein recently suffered a defeat in a London court case against rival company Temu. The lawsuit, which was based on allegations of copyright infringement, ended in a ruling that could potentially benefit online marketplaces that host third-party sellers.

Ruling Details

In this first round in a series of legal battles taking place in London, Shein had accused Temu of violating their copyright on a large scale. They claimed that Temu, which is owned by PDD Holdings, had used Shein’s branded clothing images to leverage the reputation of a more recognized competitor. Shein is currently aiming for a valuation exceeding US$30 billion in an upcoming Hong Kong initial public offering (IPO).

Despite Shein’s claims, Judge Kelyn Bacon dismissed the notion that Temu had infringed on Shein’s copyright. Furthermore, she stated that even if there had been any infringement, Temu would not be liable. Initially, Shein had argued that Temu had reproduced its product photos but had not pursued this claim at the trial. The judge noted that this was because Temu’s servers are located outside the United Kingdom, and any reproduction would consequently also be outside the UK.

A representative from Shein expressed disappointment, stating that while there was no question about Shein’s ownership of the photos in question, Temu had managed to avoid liability in the UK because their servers are based in Ireland. Temu has yet to comment.

Global Legal Battle

This case is just one piece in the larger legal confrontation between Shein and Temu. Both companies have experienced rapid international expansion, offering affordable clothing, accessories, and gadgets to consumers.

Judge Bacon’s written ruling rejected the idea that Temu enabled the violation of Shein’s copyright by allowing merchants to upload photos to its website. Instead, she pointed out that Temu “prohibits merchants from uploading infringing content.”

Crucially, she also ruled that had there been any copyright infringement, Temu could have invoked the hosting defense. This is because it serves solely as an “intermediary” and did not possess the necessary awareness of any infringement. She stated that Temu did not have actual knowledge of the infringements or was aware of any facts or circumstances that would make the infringements apparent.

On a final note, Judge Bacon upheld Temu’s counterclaim, which sought damages for the removal of listings when Shein obtained an injunction regarding images for which it did not own the copyright.

Questions & Answers

What was the basis of Shein’s lawsuit against Temu?
Shein accused Temu of violating its copyright on a large scale and claimed that Temu had used Shein’s images to leverage the reputation of a more established competitor.

Did the judge find Temu guilty of copyright infringement?
No, the judge rejected Shein’s argument that Temu had infringed on its copyright and said that even if infringement had occurred, Temu would not be liable.

What are the implications of this ruling for online marketplaces?
This ruling could potentially benefit online marketplaces that host third-party sellers, as it emphasizes the intermediary nature of their role and the potential for the so-called hosting defense.

August 14, 2026
Expanding Footprint: Revolut Secures French Banking License, Plans 600 New Jobs in Western Europe

Revolut, a prominent fintech company, has received a full banking license in France, as authorized by the country’s banking regulator, ACPR, and the European Central Bank (ECB). Prior to obtaining this license, Revolut conducted its EU operations under a Lithuanian banking license.

Transitioning Customers to French Entity

The company plans to gradually transition its Western European customers to the French entity, commencing with France and subsequently extending to other nations such as Germany, Ireland, Italy, Portugal, and Spain. Revolut’s approximately 1.2 million Swiss customers will not be impacted by this change.

Last year, Revolut pledged to invest over 1 billion euros in Western Europe. In line with this commitment, the company has revealed plans to recruit over 600 additional staff members. Four hundred of these new hires will be stationed at the company’s forthcoming Western European headquarters in Paris, which is anticipated to begin operations next year.

Despite a protracted approval process, Revolut obtained a UK banking license just last year. The company is recognized as one of the most valuable fintech businesses globally, standing at a valuation of 115 billion dollars following a recent secondary share sale to investors. This valuation is notable given the company’s reported profit of 1.5 billion dollars for 2025.

Rapid Expansion and Customer Base

Revolut currently caters to 75 million customers worldwide, with Western Europe – home to around 30 million customers – representing its largest and most swiftly expanding region. The past year has seen the bank gain almost eight million customers across these markets.

According to a report released in June, the ECB had previously voiced concerns about Revolut’s rapid expansion, urging improvements to the company’s internal procedures for introducing new products.

Questions & Answers

What does the new banking license mean for Revolut’s operations in France?
The full banking license granted by France’s ACPR and the ECB allows Revolut to operate under a French banking license, replacing its previous Lithuanian banking license.

How many new employees does Revolut plan to recruit, and where will they be based?
Revolut aims to hire over 600 new employees, with 400 of them set to be based at its upcoming Western European headquarters in Paris.

What is the significance of the concerns raised by the ECB in relation to Revolut’s rapid expansion?
The ECB’s concerns highlight potential issues associated with Revolut’s rapid growth, particularly calling attention to the need for improvements in the company’s internal processes when launching new products.

August 12, 2026
South Korea Plans Tax Hike on Wealthy Homeowners to Stabilize Surging Property Market

South Korea has put forth a proposal that seeks to introduce amendments to the existing property tax laws to levy higher rates on affluent property owners in an effort to stabilize the country’s overheated housing market. This development was made public on Monday following a confidential discussion led by the country’s President, Lee Jae Myung, who held deliberations on the local stock and property markets. The measures come as the government is attempting to calm public resentment over rocketing house prices and an unpredictable stock market.

Finance Minister, Koo Yun-cheol, stated, “Our aim is to reform the real estate taxes in a sensible way to establish a housing market that prioritizes residence. It is important to remember that a house is meant for living, not for speculative buying.”

Key Changes in the Proposed Tax Code

The proposed revisions in the annual tax code, which were announced on Monday, include various changes. The finance ministry has suggested increasing property tax exemptions for individuals who own and live in a single house, while reducing them for others. The proposal also includes a rise in real estate holding tax rates, which could go up by as much as 2.3 percentage points, depending on the property’s price. Furthermore, the tax burden on multiple homeowners and high-priced houses is set to increase due to other changes in the tax code.

Koo Yun-cheol further explained: “For households with a single property, if the value of their house is under 3 billion won (US$2.1 million), their tax burden will decrease. From 3 billion won to 4 billion won, the tax will incrementally increase, and it will normalize for properties valued between 4 billion and 5 billion.”

In the previous month, a series of public discussions were organized by Lee’s administration regarding property market policies. This was in response to a surge in house prices for the 13th consecutive month in June, which marked the highest increase since November 2021.

Other Measures to Stabilize the Economy

The Bank of Korea has also raised concerns about the significant profits in the semiconductor industry leading to high inflation and escalated housing prices. As a result, the bank increased interest rates last month for the first time in over three years and signaled further hikes in the future.

In addition to property tax changes, the ministry is planning to introduce tax exemptions on domestically produced goods for local sales in sectors such as solar energy, wind energy, rechargeable batteries, semiconductors, key materials, and AI robots. The proposed changes are expected to be submitted to parliament by September 3.

Questions & Answers

What is the primary aim of the proposed tax code revisions in South Korea?
The principal goal of the proposed tax code changes is to stabilize the country’s overheated housing market by increasing taxes on affluent property owners.

How will the tax revisions affect homeowners in South Korea?
For individuals who own and reside in a single house, their tax burden will decrease if the house is valued under 3 billion won. From 3 billion won to 4 billion won, the tax will incrementally increase. The tax will normalize for properties valued between 4 billion to 5 billion won.

What other measures are being taken in South Korea to stabilize the economy?
Apart from the proposed tax code changes, the Bank of Korea has also increased interest rates for the first time in over three years due to concerns about high inflation and escalating housing prices. The finance ministry also plans to introduce tax exemptions on domestically produced goods for local sales in several sectors.

August 4, 2026
Singapore’s Affluent Investors Neglect Retirement Plans, Despite Confidence in Financial Future: HSBC Survey

Affluent investors in Singapore are optimistic about their financial future, though many are overlooking the crucial aspects of retirement and wealth-transfer planning. This is according to recently released data from a survey by HSBC.

There’s a noticeable contradiction among these investors; despite their confidence in their future financial status, their readiness for significant life-stage events is still lacking. HSBC’s Global Affluent Investor Snapshot 2026 reveals that a mere 20% of affluent investors in Singapore currently utilize retirement-planning services. Even fewer, just 9%, use wealth-transfer planning services, despite both being high on their list of financial priorities.

Opportunities for Private Banks and Wealth Managers

The survey’s findings indicate a sizable opportunity for private banks, wealth managers, and family-office advisors. This comes as Singapore’s wealthy population expands and the complexity of portfolios increases.

The trend of international diversification is being led by younger investors. More than half (55%) of affluent Gen Z investors in Singapore prefer investing outside their home market. This surpasses both the average of 50% for Singapore and the global Gen Z average of 49%.

However, the confidence of Gen Z investors has significantly declined. This is especially apparent in their medium-term financial goals, with confidence dropping from 73% the previous year to just 48%. HSBC reports that despite this decline, the younger generation remains strongly focused on wealth creation and financial security. The rising market uncertainty seems to be impacting their expectations.

Investor Confidence Remains Robust

Despite these concerns, the overall investor sentiment in Singapore is still strong. Confidence in achieving short-term financial goals increased to 78%, while faith in medium- and long-term goals reached 63% and 65% respectively. Retirement planning, wealth preservation and financial security continue to be high priorities for affluent investors.

International diversification continues to be a crucial strategy. Half of Singapore’s affluent investors are now looking for investment opportunities beyond their domestic market, which is above the global average of 47%.

Increasing Demand for Diverse Investment Products

The study also points to a growing demand for a wider variety of investment products. Across the globe, investors plan to raise allocations to insurance products, alternatives and gold over the next year. Ownership of insurance products is anticipated to rise from 39% to 57%, and alternative investments could increase from 27% to 44%. Interest in gold is also on the rise.

Younger investors are projected to be the main drivers of demand for alternative investments, private equity, and digital assets. Ashmita Acharya, Head of International Wealth and Premier Banking at HSBC Singapore, says the findings underline the necessity for more comprehensive wealth-planning solutions.

She points out that as portfolios become increasingly international and diversified in nature, many investors are finding it challenging to turn financial ambitions into actionable plans.

Questions & Answers

Why are affluent investors in Singapore overlooking retirement and wealth-transfer planning?
The exact reasons vary, but one possible explanation could be the lack of awareness or understanding of the importance of these financial planning aspects.

What is the significance of the growing trend towards international diversification among Singapore’s investors?
This trend indicates that Singapore’s investors are seeking to spread their investments geographically to mitigate risk and potentially take advantage of higher returns in other markets.

How are financial institutions responding to the growing demand for a broader range of investment products?
Financial institutions are increasingly offering more diverse and sophisticated products to meet the evolving demands of their clients, including alternative investments and digital assets.

July 30, 2026
US FTC Investigation Threatens Sheins Financial Health Amid Hong Kong IPO Plans

Fast-fashion online retailer, Shein, recently disclosed that its US operations are currently under investigation by the US Federal Trade Commission (FTC). This news comes from documents related to its intended Hong Kong initial public offering (IPO), suggesting that the company might face significant fines as a result of the investigation.

Shein, a company of Chinese origin, has confirmed that it is cooperating with the FTC investigation. The company stated in its filing, “The outcome of the investigation, whether in settlement or otherwise, may require us to make significant monetary payments that could have a material adverse effect on our financial condition and results of operations.”

The FTC, whose role is to enforce US laws against unfair and deceptive business practices, confirmed on Tuesday that it is conducting a consumer protection investigation into Shein. However, Shein did not disclose the specific reason for the investigation and has not responded to requests for comments thus far.

Shift in IPO Plans and Supply Chain Issues

Previously, Shein intended to list its IPO in New York and London. However, due to supply-chain risk disclosures becoming a significant hurdle, the company shifted its plans to Hong Kong.

The company has consistently stated that there is no forced labor in its supply chain. Despite this, language in the filing that identified Uyghur forced labor as a potential risk faced objections from China’s regulator.

Last year, Shein admitted to finding two instances of child labor in its supply chain in both 2023 and 2024. This admission came in a letter to British lawmakers after the government questioned the company’s labor conditions and supply chain practices.

The company has also faced scrutiny from the US government over the years concerning its business practices. Last year, Shein had to pay $700,000 to settle a lawsuit brought by four California counties over shipping delays. Furthermore, Texas Attorney General Ken Paxton announced in December that he was investigating Shein’s supply chain and manufacturing practices.

Despite these challenges, Shein was able to secure a nearly $100 billion valuation in a 2022 fundraising round due to excitement about its lean business operating model. However, the company reported a quarterly loss on Sunday, partly attributed to slowed sales after the US removed the de minimis tariff exemption on small packages.

Questions & Answers

What is the nature of the investigation into Shein by the FTC?
The investigation by the FTC into Shein is a consumer protection inquiry, focused on ensuring the company is not engaging in unfair or deceptive business practices.

Why did Shein change its IPO listing location from New York and London to Hong Kong?
Shein shifted its IPO listing to Hong Kong due to supply-chain risk disclosures becoming a major obstacle to proposed listings in New York and London.

What issues has Shein faced concerning its supply chain and labor practices?
In the past, Shein has faced scrutiny over its labor conditions and supply chain practices. The company admitted to finding two instances of child labor in its supply chain in 2023 and 2024. Additionally, Shein has faced inquiries from the US government regarding its business practices.

July 29, 2026
Uniqlo Plans Major Expansion in India: 100 New Stores by 2031

Uniqlo, a renowned clothing brand, is set to significantly extend its footprint in India. The company’s ambitious expansion plan aims to increase its store network in the country by five times, amounting to over 100 stores within the next five years.

Expansion Strategy and Local Production

Uniqlo’s primary expansion target will be New Delhi and other major Indian cities. The company has a comprehensive strategy in place, which includes importing apparel from its Asian factories. However, in accordance with local regulations, Uniqlo will also initiate production within India.

Uniqlo, a subsidiary of Japanese retail mogul Fast Retailing, boasts a presence in over 25 global markets and a network of more than 2,500 stores worldwide. The brand made its entry into India in 2019, and as of June this year, it had 20 stores operating across the nation, notably in major cities like New Delhi, Mumbai, and Bengaluru.

This expansion forms a part of Uniqlo’s business strategy to reinforce its presence in the Global South, encompassing South Asia and Southeast Asia.

Focus on Southeast Asia

Uniqlo’s operational presence in Southeast Asia is already substantial when compared to its Indian market. The brand has 81 stores in the Philippines, 78 in Indonesia, 73 in Thailand, 60 in Malaysia, and approximately 30 each in Singapore and Vietnam.

The combined sales of Uniqlo in South Korea, Southeast Asia, India, and Australia have witnessed a robust increase of 32% for the first nine months ending in May. The growth in sales in India and Southeast Asia alone has continued to exhibit a sustained double-digit increase.

Takeshi Okazaki, CFO of Fast Retailing, stated that the company views Asia as the next major global growth center for the long term. He added that, similar to successful strategies implemented in the US and Europe, Fast Retailing aims to enhance its brand power in Asia by improving its product lineup and store operations.

Questions & Answers

What is Uniqlo’s expansion plan in India?
Uniqlo aims to expand its store network in India fivefold, reaching over 100 stores within the next five years.

Where will the expansion primarily focus?
The primary focus of the expansion will be in New Delhi and other major cities in India.

What is the company’s strategy for product sourcing in India?
Uniqlo plans to import clothes from its factories in Asia and also initiate production within India, in accordance with local regulations.

July 28, 2026
Coles Plans Closure of Crime-Plagued Elizabeth Street Store in Melbourne CBD by 2027

Coles, a leading supermarket chain in Australia, has disclosed plans to shutter its store on Melbourne’s infamous Elizabeth Street due to the location’s ongoing issues with crime and antisocial behaviour. The location, which has once again come under the spotlight following two separate machete attacks recently, is situated across from Melbourne’s Flinders Street station. The Coles Central store shares its vicinity with Woolworths Metro, located just a few doors down.

A Strictly Commercial Decision

Coles has stressed that the decision to vacate the premises at the end of their lease agreement in 2027 is purely a business move. This will result in the supermarket maintaining only one store in Melbourne’s Central Business District (CBD), based in Melbourne Central.

The supermarket chain has recently made public its extended collaboration with Crime Stoppers Victoria, aiming to address the issue of crime within retail settings. Increasing instances of theft, abuse and hostility towards frontline workers have contributed to a progressively challenging environment within the retail sector, a Coles representative explained.

Martin Smithson, General Manager of Supermarket Operations at Coles, stated that the rise in retail violence was absolutely unacceptable. He emphasized that the partnership with Crime Stoppers was just one of the steps being taken to tackle it, and called for a collaborative approach involving industry, retailers, government and police.

Victoria: A Hotspot for Retail Crime

Victoria, and particularly Melbourne, has been a focal point of Australia’s escalating retail crime issue. In 2025, the state recorded 95,181 criminal incidents at retail locations, marking an increase of 25.7% over the preceding decade.

According to Chris Rodwell, CEO of the Australian Retail Council, the trend is irrefutable. Retail crime in Victoria continues to surge, posing a persistent, widespread threat to frontline workers and customers.

Questions & Answers

What is the reason for Coles’ decision to close its store on Elizabeth Street?
The decision is strictly commercial, according to a Coles spokesperson.

How is Coles addressing the issue of retail crime?
Coles has announced an extension of its partnership with Crime Stoppers Victoria to help tackle retail crime.

What has been the trend in retail crime in Victoria over the past decade?
The state has seen a 25.7% increase in criminal incidents in retail locations over the past decade.

July 27, 2026
Thailand Rolls Out Plans to Promote 300,000 Tons of Southern Durian amidst Oversupply Concerns

Thailand is working to stimulate the consumption and distribution of 300,000 metric tons of southern durian due to an oversupply caused by a decline in exports to China, primarily related to quality issues. The director-general of the Department of Internal Trade, Wittayakorn Maneenetr, revealed that the durian production in southern Thailand is expected to reach 752,515 tons this year, marking an increase of 30% compared to the last season. Around 35% of the produce has already hit the market, with almost 489,199 tons remaining undistributed.

According to Maneenetr, the early-season price drop is linked to China’s temporary halt in orders due to the quality concerns associated with unripe durians, and the growing competition from foreign suppliers and domestic production from Thailand’s eastern and northeastern regions.

Market Stabilization Measures

To balance out prices, the department has stepped in with initiatives like advance purchases and consumer-targeted promotional campaigns. Currently, Southern Monthong durians are priced at 85-105 baht (US$2.5-3.1) per kilogram for AB grade, 60-80 baht for C grade, and 40-55 baht for D grade.

The designed plan to distribute 300,000 tons of southern durian involves selling 3,700 tons through advance purchase contracts, 9,000 tons via consumption promotion campaigns, and 281,000 tons through off-farm distribution networks. Additional measures encompass establishing direct sales outlets, subsidizing postal delivery costs, and encouraging processing initiatives.

Under its medium-term strategy, the Ministry of Commerce is aiming to engage tourists through consumption campaigns, collaborate with food brands to create durian-based menus, and organize field trips for foreign ambassadors to the major durian-producing provinces, including Chumphon, Surat Thani, and Nakhon Si Thammarat.

Despite the seasonal challenges, the overall durian exports from Thailand remain strong. From the start of the year until July 5, Thailand has exported 908,047.46 tons of durian in 55,831 shipments, which generated more than 104.19 billion baht.

Questions & Answers

What were the main reasons for the drop in durian exports to China?
The decline in exports was primarily due to quality issues associated with unripe durians, leading to a temporary suspension of orders from China.

What are the prices for different grades of Southern Monthong durians?
AB grade durians are priced at 85-105 baht per kilogram, C grade durians at 60-80 baht, and D grade durians at 40-55 baht.

What strategies are being implemented to boost durian consumption and distribution?
Strategies include advance purchases, consumption promotion campaigns, setting up direct sales outlets, subsidizing postal delivery costs, and supporting processing initiatives. Furthermore, there are plans to engage tourists and collaborate with food brands to create durian-based menus.

July 23, 2026
Singapore’s Metro Redefines Retail, Plans Closure of Two Major Stores for Smaller Multi-Concept Outlets

Metro, a well-known retailer based in Singapore, has announced plans to shutter its department stores located at Paragon on Orchard Road and Causeway Point. This decision comes in line with the company’s strategic pivot away from traditional large-format department store models, as their leases approach expiration.

Embracing a New Retail Model

Metro’s future plans revolve around introducing a flexible retail model that focuses on smaller-format and multi-concept stores. The company is currently exploring potential locations and liaising with landlords to advance the rollout of these innovative multi-concept stores.

To ensure the financial viability and success of its new retail approach, Metro is considering several key factors. These include the location, rental terms, and implementation timelines of these proposed stores. This strategic move is aimed at meeting the fundamentally different consumer expectations of today’s market, while allowing more flexibility for the introduction of new concepts, brands, and partnerships.

Commenting on the new direction, Yip Hoong Mun, Group CEO and Executive Director of Metro, said that the company’s refreshed retail strategy is designed to tackle the challenging operating environment and align with customers’ evolving expectations.

Transforming the Retail Landscape

Tan Soo Khoon, the chairman of Metro, further highlighted that this repositioning would pave the way for a more agile retail platform. This transformation is expected to support the company’s long-term growth ambitions. “As the retail landscape continues to transform, it is vital for us to evolve alongside it,” Tan noted.

In the past year, Metro has been revamping its offerings through various partnerships and experiential concepts. However, despite its initiatives, the company reported a net loss of US$8.8 million for the fiscal year ending March 31, attributing the downturn to lower revenue, weaker margins, and impairment charges.

Meanwhile, potential plans are being reviewed to optimise and selectively reconfigure parts of the Orchard Road mall, which presently houses Metro.

Questions & Answers

What is the new retail model that Metro is adopting?
Metro is shifting towards a flexible retail model centred on smaller-format and multi-concept stores.

Why is Metro shifting away from traditional department stores?
Metro’s shift is prompted by changing consumer expectations and a desire for greater flexibility to introduce new concepts, brands, and partnerships.

Will Metro continue to operate in the Orchard Road Mall?
Metro has expressed interest in remaining at the Paragon on Orchard Road under its new retail concept, and discussions are ongoing.

July 22, 2026
Thailand Plans $362M Mega Cruise Terminal on Koh Samui to Boost Tourism

Thailand is advancing a significant cruise terminal project, valued at THB12.2-billion (US$362-million), on Koh Samui, the country’s second-largest island. The terminal has been designed to accommodate large cruise ships and is part of 262 substantial transport initiatives slated for completion by 2027. The collective investment for these projects totals THB229.76 billion, as divulged by the Transport Ministry.

Project Management and Approval Process

The Marine Department is overseeing this major development, which aims to bolster maritime transportation, host larger cruise vessels and facilitate the growth of Thailand’s cruise tourism industry. The project is presently under review by the Transport Ministry, and once approved in principle, it will be put forward to the Cabinet for further approval.

Simultaneously, applications for land usage under the jurisdiction of pertinent agencies such as the Royal Forest Department are being processed. The ministry expects Cabinet approval by 2027, followed by the bidding process in 2028. Construction is anticipated to begin shortly after and operations are projected to start by 2032, with an operational period of 30 years.

Projected Benefits and Economic Impact

Upon completion, the terminal is slated to serve between 200,000 and 400,000 tourists annually and should be able to manage approximately 240 cruise ship dockings each year. A study of the project estimates that the terminal could produce around THB46 billion in economic value over its 30-year lifespan, with an economic rate of return exceeding 15%.

Koh Samui, located in the Gulf of Thailand and approximately 700 kilometers south of Bangkok, is the country’s second-largest island after Phuket. The island is renowned for its stunning beaches, luxurious resorts, vibrant nightlife, and access to nearby marine attractions such as the Mu Ko Ang Thong National Marine Park.

Questions & Answers

What is the main purpose of the cruise terminal project on Koh Samui?
The cruise terminal project aims to enhance maritime transportation, accommodate larger cruise vessels, and support the growth of Thailand’s cruise tourism industry.

When is the terminal expected to commence operations?
The terminal is projected to start operations by 2032, with an operational period of 30 years.

What is the expected economic impact of the terminal?
The terminal could generate approximately THB46 billion in economic value over 30 years, with an economic rate of return surpassing 15%.

July 22, 2026
Vuori Targets Chinas Fitness Boom: Plans to Triple Store Count in Aggressive Expansion

California’s Vuori, an activewear brand, is reportedly putting China at the forefront of its global expansion strategy. The company’s intention is to expand its global store network more than twofold.

China at the Heart of Vuori’s Expansion Plan

In a recent interview, company president Ashley Kechter revealed that Vuori is planning to elevate its store count in China from eight to 20 by the close of next year, concentrating its growth in the cities of Shanghai and Beijing. This planned expansion is a key aspect of the retailer’s larger ambition to increase its worldwide store network to over 300 outlets by 2030, more than doubling its present reach.

Vuori initially entered the Chinese market via Tmall in 2022, setting its sight on operating in 15 international markets by the year 2026. To date, Vuori operates eight stores in China. Furthermore, the brand commenced its operations in Shanghai with the inauguration of its first store in 2024.

Global Expansion Beyond China

Even beyond China, Vuori is hastening its expansion into other markets, including South Korea and the Middle East. This comes as China continues to rise as a pivotal arena for high-end activewear brands.

In competition with brands such as Lululemon and Alo Yoga, Vuori is zeroing in on a market segment where younger consumers are increasingly focusing on health, fitness, and wellness. This shift is stoking the demand for athleisure products.

Questions & Answers

What is Vuori’s expansion plan?
Vuori plans to increase its store count in China from eight to 20 by the end of the following year, primarily focusing on Beijing and Shanghai.

What is Vuori’s long-term goal?
The company’s long-term ambition is to expand its worldwide store network to over 300 outlets by 2030, more than doubling its current reach.

What markets is Vuori targeting alongside China?
Besides China, Vuori is also hastening its expansion into other markets such as South Korea and the Middle East.

June 26, 2026
Miniso Founder Guofu Ye Doubles Down: Plans to Boost Stake by $6.4M Amid Company’s Rapid Growth

Guofu Ye, the founder of retailing company Miniso Group Holding, is planning to augment his ownership in the business by a minimum of HK$50 million (US$6.4 million). Over the course of the next year, Ye intends to elevate his shareholding by purchasing more company shares. This includes American Depositary Shares (ADSs) and ordinary shares that are publicly listed on the Hong Kong Stock Exchange.

The method of transactions will vary, being made either on the open market or via private transactions. These transactions will be conducted directly or through entities that Ye controls, with all purchases funded by his personal finances.

Ye is presently a majority stakeholder in Miniso, holding approximately 63.7% of the company’s shares, not including treasury shares.

Reflecting on Miniso’s trajectory and performance in recent years, Ye stated that these elements have confirmed the company’s strategic direction and the team’s exceptional execution capabilities. He expressed his firm belief in Miniso’s ongoing growth and demonstrated his commitment through this proactive investment decision.

However, with the company yet to release its financial results for the first quarter ending on March 31, Ye is bound by trading blackout restrictions and director securities transaction restrictions. He will initiate his plan to increase his shareholding following the end of this blackout period, which will occur post the disclosure of the company’s first-quarter results. Ye reassured that he would not have access to any significant non-public information during this period.

The specifics regarding the timing, cost, and volume of each purchase will be ascertained based on the prevailing market conditions at the time.

In the previous year, Miniso reported a substantial 26.2% surge in revenue, and the total number of stores climbed to 8,485.

Questions & Answers

What is the intended increase in Guofu Ye’s stake in Miniso Group Holding?
Guofu Ye plans to increase his stake by at least HK$50 million (US$6.4 million).

How will Ye execute the purchases for this increased stake?
Purchases will be made either on the open market or via private transactions, directly or through entities controlled by Ye.

What are Miniso’s recent performance indicators?
In the previous year, Miniso reported a 26.2% increase in revenue and the number of stores rose to 8,485.

April 24, 2026
Gap Eyes China Expansion: Plans 50 New Stores, Hong Kong Comeback and Australia Re-Entry

Gap, the prominent American clothing retailer, is said to be significantly expanding its footprint in Greater China. The company’s plans include opening 50 fresh storefronts throughout mainland China during the current year, as well as reestablishing its presence in Hong Kong.

This expansion initiative follows in the wake of Gap’s first-ever quarterly break-even performance in China. This success has been credited to Baozun, the local operator who assumed control of the business in 2022. Under Baozun’s leadership, the company completed a comprehensive overhaul of its supply chains, merchandising, and digital channels.

The forthcoming new stores are not confined to the established business hubs of Shanghai and Beijing. Indeed, locations span from tier-one cities to tier-three cities, broadening the brand’s geographical reach.

Baozun has set a target of approximately 30% annual growth over the coming two years. The strategy for achieving this ambitious goal blends physical retail development with a fortified online presence.

Vincent Qiu, the chairman and CEO of Baozun, has publically expressed the brand’s readiness to “accelerate the business and scale it to a bigger size” within the next three-year period.

In addition to its expansion in Greater China, Gap is also gearing up to make a return to the Australian market. The company will do so through a collaborative partnership with Myer. Despite forming part of its wider international strategy, this Australian venture remains secondary to Gap’s primary focus on Greater China.

Questions & Answers

What plans does Gap have for expansion in Greater China?
Gap plans to open 50 new stores across mainland China this year and re-enter the Hong Kong market.

What is Baozun’s growth target for the next two years?
Baozun aims to achieve around 30% annual growth over the next two years by combining physical retail expansion with a stronger online presence.

Is Gap planning to re-enter any other markets?
Yes, Gap is preparing to re-enter the Australian market through a partnership with Myer as part of its broader international strategy. However, this remains secondary to the company’s focus on Greater China.

March 27, 2026
Unprepared for Tomorrow: Majority of Asia’s Wealthiest Lack Legacy Plans, HSBC Life Report Reveals

A report by HSBC Life reveals that a significant percentage of Asian high net worth individuals (HNWIs) do not have legacy plans in place, thereby exposing substantial wealth to potential vulnerabilities. This lack of planning is especially prevalent among those in Greater China.

Survey Findings

The HSBC Life report, which surveyed 900 HNWIs across nine markets in Asia and the Middle East, including Taiwan, Hong Kong, mainland China, Singapore, Indonesia, Malaysia, Thailand, India, and the UAE, found that approximately 60% of HNWIs in Asia lack legacy plans. Greater China’s HNWIs were the least prepared. Only 24% of HNWIs in Taiwan, 26% in Hong Kong, and 36% in mainland China had official legacy plans. Southeast Asia performed better, with Thailand leading the pack at 57%.

Surprisingly, the report found that economic or financial market volatility was the primary motivator for implementing legacy plans for 45% of respondents. This outweighed traditional incentives like age or lifestyle milestones.

Life Insurance as Legacy Solution

The survey results indicated that life insurance was the favored legacy solution among participants, with 87% choosing it over other options such as wills (82%) or family trusts (76%).

Edward Moncreiffe, the CEO of insurance at HSBC Group, commented on the matter, stating that the surveyed HNWIs are not only inadequately protecting their future wealth but are also missing out on potential wealth diversification and growth.

Questions & Answers

What percentage of high net worth individuals in Asia have a legacy plan in place?
Less than 40% of high net worth individuals in Asia have a legacy plan according to the HSBC Life report.

Which region had the least prepared HNWIs in terms of legacy planning?
High net worth individuals in Greater China were the least prepared for legacy planning.

What was the preferred legacy solution among the surveyed HNWIs?
Life insurance emerged as the preferred legacy solution, surpassing other options like wills and family trusts.

March 27, 2026