Tag: Singapore

  • Singtel, Razer to create SEA’s largest e-payments network

    Singtel, Razer to create SEA’s largest e-payments network

    Singtel Group and gaming hardware manufacturer Razer have entered an agreement to collaborate in the areas of e-payments, eSports and gaming related digital media and telecoms services in the Southeast Asian region.

    The two companies will seek to capitalize on the growth of the mobile payments market in Southeast Asia, which is predicted to be worth around $32 billion by 2021.

    As part of the partnership, the companies aim to create the largest e-payments network in Southeast Asia by enabling the interoperability of their respective e-payments systems to create an integrated regional network.

    Singtel Group has already announced plans to interconnect the mobile wallets of Singtel and its network of regional mobile associates into an interoperable platform linking over 50 million wallet users.

    Razer meanwhile recently announced plans to acquire MOL Global, the operator of one of the largest e-payment networks in the region, for $61 million. MOL Global handled over $1.1 billion of digital payments in 2017.

    The two companies also plan to leverage Singtel’s regional footprint to develop the Southeast Asian eSports ecosystem and community. The companies will hold joint activities including regional invitational events and seek to cultivate eSports talent.

    Finally, the two companies will explore the development of gaming-related telecommunications and digital media products and services such as broadband plans, mobile services and eSports content for customers in the region.

    As a Group devoted to connectivity, we are making a big push to create an ecosystem of digital services for our customers. Digital services from mobile payments to entertainment have become a big part of their lives, especially the millennials,” Singtel International CEO Arthur Lang said.

    “Our collaboration with Razer, which shares our vision on e-payments and eSports, will help advance our goal to empower customers to spend seamlessly across borders and experience the thrill of eSports. We look forward to working with gaming partners and supporting community initiatives to grow eSports in the region.”

  • DBS shares shoot past S$30 on 21% surge in Q1 earnings

    DBS shares shoot past S$30 on 21% surge in Q1 earnings

    DBS shares crossed S$30 for the first time after it sparked a surge in bank stocks on Monday with sparkling Q1 results. South-east Asia’s biggest bank group announced before market hours that earnings for the first quarter rose 21 per cent to S$1.5 billion as it benefited from higher interest rates and loans growth as well as a property sale gain in Hong Kong.

    The first of the three local banks to report Q1 results, DBS exceeded expectations. Analysts polled by Bloomberg had forecast S$1.4 billion in net profit for the three months ended March 31. The stock surged 2.8 per cent to close at S$30.84.

    Chief executive Piyush Gupta, speaking at the bank’s results briefing, said he expects “a fairly strong year for DBS” as the global growth momentum is still robust and “the opportunities that we see are continuing to stay for us.”

    Loans expanded 13 per cent, or S$39 billion in constant-currency terms to S$328 billion from growth across trade, corporate and consumer loans, including S$9 billion from the consolidation of the retail and wealth management business of ANZ.

    Income and loans growth from small and medium enterprises (SME) has been strong but it was slow for the bank’s large corporate customers, he said.

    Corporate income in Q1 was flat while SME income rose 9 per cent.

    Full-year loan growth guidance maintained at 8 per cent, said Mr Gupta.

    Net interest margin (NIM) – defined as difference between interest income generated and the amount of interest paid to its lenders including depositors – rose nine basis points from a year ago to 1.83 per cent from higher Singapore dollar as well as US and Hong Kong dollar interest rates.

    DBS is on track for full year NIM of at least 1.85 per cent and may even exceed that by one to 2 basis points if there are three more US Federal Reserve rate hikes and there is pass through to local Sibor/SOR rates, said Mr Gupta. The 3-month Sibor or Singapore interbank offered rate which is the benchmark for housing loans has risen to 1.5 per cent from 1 per cent last June. Three-month SOR or swap offer rate – used to price commercial loans is even higher, at 1.6 per cent from last June’s low of 0.6 per cent.

    Mr Gupta said he wouldn’t be surprised if there are even four rate hikes by the US Fed this year.

    Net fee and commission income rose 12 per cent to S$744 million, led by higher bancassurance and unit trust sales. Card fees rose from higher credit card and debit card transactions as well as the consolidation of the retail and wealth management business acquired from ANZ.

    Consumer and wealth management income rose 17 per cent to S$1.4 billion. Wealth management income went up a strong 28 per cent while retail was up 8 per cent. Assets under management gained 22 per cent to S$208 billion, with S$22 billion from ANZ.

    Home loan market share remains at 31 per cent and SGD savings market share is 52 per cent. New home loan sales was S$2.5 billion in Q1.

    Other non-interest income swelled 25 per cent to S$488 million. There was a S$86 million gain from the sale of a Hong Kong property. Net trading income was also higher, partially offset by a fall in net income from investment securities.

    Expenses increased 12 per cent to S$1.4 billion. Excluding the consolidation of ANZ and a non-recurring item, underlying expenses were 6 per cent higher. Non performing assets (NPA) fell 4 per cent from the previous quarter while the non performing loan (NPL) rate eased to 1.6 per cent from 1.7 per cent. NPL ratio was 1.4 per cent in Q1 2017.

    Mr Gupta said asset quality is “looking very good” with new NPA formation of S$195 million at 4-year low. Return on equity (ROE) was 13.1 per cent, the highest in a decade. ROE was 11.1 per cent a year ago. Mr Gupta said he expects full year ROE to be at 12.5 per cent.

    Along with DBS, UOB, which is announcing its results on Thursday, rose S$0.70, or 2.38 per cent, to S$30.14, while OCBC went up S$0.15, or 1.1 per cent to S$13.80.

  • Ezbuy Announces Dollar Deals With Huge Savings – For Two Days Only

    Ezbuy Announces Dollar Deals With Huge Savings – For Two Days Only

    ezbuy.sg, Singapore’s first and largest global shopping platform, today announced their ezbuy Dollar Deals,offering a variety of the lowest prices, on some of the most popular product categories. Happening for two days only from 29th to 30th April 2018, the ezbuy Dollar Deals will offer heavily discounted prices for customers looking to jump start their shopping spree, with deals going on sale at $1, $3, and $5respectively.

    Customers can look forward to huge savings from over 2,000 products across numerous categories, including men and women’s fashion, accessories, home and living, beauty, food and more. Explore ezbuy’s shopping platform for your favourite products including mobile accessories, jewellery pieces, Bluetooth speakers, patterned tees, dresses, handbags and many more. Products under the ezbuy Dollar Deals will also be at nett prices, with no shipping and agent fee for the entire campaign period.

    To date, ezbuy has not only expanded their suite of product offerings, they have also more sellers on board from China as well as on their various marketplaces including Singapore, Korea, Taiwan and USA. This means that customers now have greater access to their favourite brands and products from these countries with the ease of purchasing them from ezbuy.

  • Skechers Singapore Expands Foothold With New Partnerships

    Skechers Singapore Expands Foothold With New Partnerships

    Leading sports brand, SKECHERS, announces today a slew of new collaborations and exciting releases. Skechers has entered into a new franchise partnership with Trendz 360, a leading distributor and retailer of sports and lifestyle footwear. Together, the two companies are introducing a new Skechers concept store at Suntec City, designed with greater emphasis on visual merchandising and shoppers’ experience. This is the second and largest franchise partner store; with the first store located at Velocity, #01-46, which was opened in December 2017.

    Furthermore, Skechers launches its Spring/Summer 2018 collection in the stylish, sleek DLT-A range of athletic footwear, and with it, the appointment of popular host and TV personality, Left Profile Artiste Lee Teng, as Skechers Singapore Brand Ambassador.

    Skechers And Trendz 360 Enter Into Synergistic Franchise Partnership

    2017 saw excellent business performance for Skechers, with the brand achieving a 24% increase in net sales and 33% rise in pairs of shoes sold for Southeast-Asia. This year, Skechers continues to look to expand its presence in Singapore and the region, and thus has partnered Trendz 360 in a franchise agreement. A leading distributor and retailer of sports and lifestyle footwear, apparel and accessories, Trendz 360 has an excellent portfolio of active lifestyle brands, and proves to be a great fit for Skechers.

    “Skechers has always been looking for a partner to further grow our business in Singapore, and we found the right match in Trendz 360. With its rich experience in the footwear segment and other retail businesses, we have great confidence that they will able to value-add and further enhance Skechers’ market share here in Singapore,” says Vincent Leung, President of Skechers Southeast Asia.

    The two companies will be working together to expand Skechers’ business presence in Singapore, through distribution and retail channels managed by Trendz 360.

    Mr Andy Chaw, Chief Executive Officer of Trendz 360, said, “The Skechers brand has evolved to become a lifestyle and performance wear powerhouse both regionally and internationally. As a new addition to our lifestyle footwear portfolio, we are confident that there will be great synergy from this partnership with Trendz 360’s business ethos of curating leading sports and lifestyle brands for the active consumer.”

    New Skechers Store Adopts Visual-Oriented Design, Greater Focus on Apparel

    Skechers Singapore’s new concept store at Suntec City West Wing, #01-375, is now officially open to the public. Encompassing over 1,900 sqf, the retail space is specially designed using the new Visual Merchandising concept adopted by Skechers since Q4’2017.

    The store utilises visual images and clear displays to better emphasise and portray the footwear, inviting visitors in with its modern, neat look.

    There are dedicated areas for different categories, including Lifestyle, Performance, the kids’ series, as well as the well-loved Skechers YOU and D’Lites collections. To better segment and highlight each segment, different fixtures are also used to highlight specific parts of the store, such as perforated panels for the Lifestyle section and black, vertical bars to create an industrial look for the Performance section.

    Furthermore, the new store features the largest collection of fitness and active apparel yet, reflecting Skechers’ increasing focus on the apparel segment. In the future, Skechers will place more emphasis in apparel, and is likewise targeting to increase apparel representation in Skechers stores.

    Skechers Singapore Brand Ambassador, Lee Teng

    Skechers is pleased to welcome Left Profile artiste Lee Teng, well-known host and TV personality, as its new Singapore brand ambassador. Embodying the qualities that a Skechers Brand Ambassador should possess – Trendy, Active and Sporty, he is well-equipped to reflect the brand and its range of products, bolstered by his influence both on TV and on social media.

    Lee Teng is also a successful entrepreneur and the undisputed icon of streetwear fashion, which is fully in line with Skechers’ young, trendy brand image. His keen sense of fashion and business has led to successful collaborations with Taiwanese stars like Jay Chou and Show Luo on their streetwear brands.

    Joining other stars in the Skechers brand ambassador family including Camila Cabello, Wu Zun and Zico, Lee Teng will front the brand’s campaigns in Singapore, including the D’Lites and DLT-A collections.

    On 19 April 2018, Lee Teng will grace the official opening of the Skechers concept store at Suntec City, happening along with the launch of Skechers’ Spring/Summer 2018 DLT-A collection.

    Delight in the Timeless Attitude of the Skechers S/S’2018 DLT-A Collection

    The Spring/Summer 2018 collection of Skechers’ DLT-A series is out now. The sneaker comes with air-cooled memory foam technology and includes a super lightweight shock-absorbing athletic midsole signature to the D’Lites series. It has a knitted upper and futuristic wavy line designs on the outsole, scoring points for its sporty style and comfort.

    This new release will comprise the following designs and colours:

    Model 88888164

    Lace-Up in Black, White, Pink

    Model 88888157 Lace-Up in

    White, Tan, Black, Coral

    Model 66666085

    Velcro Slip-On in

    Pink, Black/Red

    Model 88888156

    Regular Slip-On in

    Black, White/Black, Pink, Aqua Blue

    The unisex sneakers come in US size 5 – 12, retailing at $129. They are now available at Skechers concept stores in Tampines 1, Jurong Point, NEX, Parkway Parade, Causeway Point, VivoCity, Jem, Bugis Junction, Ngee Ann City, ION Orchard, Junction 8, Compass One, Northpoint City (South Wing) and Suntec City.

    Check Ya Brain with DLT-A – Exciting Roadshows at Suntec City, NEX

    To celebrate the launch of DLT-A, Skechers will be holding roadshows at Suntec City (16 – 23 Apr) and NEX (3 – 6 May). Aside from checking out the new collection, visitors will be able to try out revolutionary technology at the ‘Check Ya Brain with DLT-A’ booth.

    Users will be invited to put on an electroencephalogram (EEG) headset, which depicts the electrical activity of the brain. Next, interact with the various designs and colours of DLT-A shoes on display, and each user’s unique brainwaves at the moment will be projected!

    The roadshows will also showcase Skechers’ new lifestyle apparel additions, branching out from its previous focus on performance apparel.

    The lifestyle apparel saw great response when it was first launched in Korea and Hong Kong, and after it was recently featured on the hit boy group survival show Idol Producer, all relevant apparel flew off the shelves.

  • Paragon flagship for Tod’s Singapore

    Paragon flagship for Tod’s Singapore

    While known for its classic Gommino driving shoes, Tod’s introduces more accessories at its new flagship, featuring a limited-edition Wave backpack.

    Covering 190sqm, the boutique has high-gloss ceilings, freestanding handbag rails, marbled flooring and features a concept exhibition space.

    Centre stage this season is the Surf collection, a range of shoes and accessories inspired by the sun, sea, sand and laidback style of Malibu, California. Exclusive to the store, the Wave backpack is available in metallic gold or silver, with contrasting multicoloured or rich-gold studs.

  • Suntec City retail assets grow

    Suntec City retail assets grow

    Retail data from Suntec City shopping centre shows growth by every measure in the first quarter of this year.

    Suntec City REIT has recorded a modest increase in gross revenue for the first quarter, as rising retail rents made up for declining office income.

    “The Singapore retail market remained stable in the first quarter of this year as the growth in

    Singapore’s economy lifted business sentiments and helped bolster occupier demand,” the trust said in a statement.

    “Suntec City mall continued to show strong operational performance in the first quarter. Footfall and tenant sales per square foot registered 12.7 per cent and 5.2 per cent year-on-year growth respectively.”

    Suntec City REIT says its retail portfolio was 98.4 per cent occupied as at March 31.

    “For the Singapore retail portfolio, the committed occupancy for the entire Suntec City was 98.6 per cent, while the committed occupancy for Marina Bay Link Mall stood at 98.9 per cent.

    In Australia, where the trust owns Melbourne’s for Southgate retail complex, occupancy was 91 per cent.

    The trust recorded gross revenue of $90.7 million, an increase of $2.3 million or 2.6 per cent for the quarter. Suntec Singapore revenue rose by $3.4 million to $21.9 million and retail revenue from Suntec City mall rose by $700,000 to $26 million, up 2.7 per cent. It was partially offset by lower office revenue, down 4 per cent to $42.9 million.

    Suntec Singapore’s revenue comprised $16.8 million from convention facilities and $5.1 million from retail.

  • UNIQLO Singapore Announces New Store Openings at Downtown East and Great World City

    UNIQLO Singapore Announces New Store Openings at Downtown East and Great World City

    UNIQLO Singapore today announces that it will be opening two new stores at Downtown East and Great World City towards the end of this year. This brings the brand’s total number of physical stores in Singapore to 28, excluding its online store, www.uniqlo.com/sg.

    The launch of these new stores displays the commitment UNIQLO is making to Singapore and its economy. Aiming to meet the needs of the residents in the central and eastern parts of Singapore through offering quality and innovative clothing, UNIQLO demonstrates its LifeWear philosophy in making the brand accessible for all to enjoy.

    Downtown East

    A well-known entertainment hub in the East which caters to families and youths alike, Downtown East will be home to a new UNIQLO store that is estimated to cover approximately 10,200  square feet. The store will be located in Downtown East’s new wing and it will offer affordable essentials for people of all ages to enjoy.

    Great World City

    Situated along the fringe of Singapore’s most popular shopping belt, UNIQLO Great World City is estimated to cover approximately 9,000 square feet. The new store presents local shoppers and tourists alike with the opportunity to shop for their favourite quality clothing at a central location without having to worry about busy shopping crowds.

  • UnPackt Singapore offers package-free groceries

    UnPackt Singapore offers package-free groceries

    Singapore is about to have its first zero-waste grocery store, UnPackt. It will sell its goods without any packaging, encouraging customers to take along their own containers.

    In self-serve gravity bins to reduce food waste, dried food and cleaning supplies will go on sale first, with plans to introduce fresh fruit and vegetables when sales volumes pick up. Goods will be priced lower than regularly as they are free of packaging.

    The store will also run a recycling scheme offering donated containers for customers who visit the store without their own. Reusable containers can also be bought.

    Co-founded by former business executives Florence Tay and Jeff Lam, UnPackt is a social enterprise that aims to spread the zero-waste message and make packaging-free shopping more accessible in Singapore. The store will hire staff from two disadvantaged groups, seniors and single parents.

    Tay had the idea for the store while exploring how to cut back on plastic waste. She was particularly looking at how to buy food in small quantities to reduce food waste. A survey she ran this month gave her confidence that Singaporean shoppers will support a zero-waste store.

    On Jalan Kuras, in the commuter district of Ang Mo Kio, Unpackt will open early next month. An online version will be introduced later.

    Singaporeans consume at a rate that would need four Earths to support them, using an average of 13 plastic bags a day per person, reports Eco-Business. Last year the island produced more than 800 million kilograms of plastic waste, with only 6 per cent being recycled.

  • World’s First Boeing 787-10 Arrives with Singapore Airlines

    World’s First Boeing 787-10 Arrives with Singapore Airlines

    Singapore Airlines welcomed the world’s first 787-10 aircraft as it arrived in Singapore from Boeing’s production facility in North Charleston, South Carolina.

    The newest variant of Boeing’s Dreamliner family of aircraft was received at an arrival ceremony at Changi Airport graced by Singapore’s Coordinating Minister for Infrastructure and Minister for Transport, Mr Khaw Boon Wan, together with beneficiaries from the Association for Persons with Special Needs (APSN) Katong School and other invited guests.

    Guests who attended the event also had the opportunity to witness the unveiling of SIA’s next generation regional cabin products, which will be fitted on the new 787-10s. They include all-new Business Class seats which recline into fully-flat beds.

    “The 787-10 is designed with the latest in technological innovations and SIA is proud to be the launch customer for this newest and largest variant of Boeing’s Dreamliner family,” said Singapore Airlines CEO, Mr Goh Choon Phong, who travelled on the delivery flight from North Charleston.

    “With the unveiling of our new regional cabin products, today’s milestones represent Singapore Airlines’ commitment and dedication to providing our customers with a premium travel experience like no other.”

    SIA’s 787-10s will be used on flights up to eight hours and will commence scheduled service between Singapore and both Osaka and Perth in May 2018, with more destinations to be added as additional aircraft are received. Prior to these services, the aircraft will be operated on select services to Bangkok and Kuala Lumpur for crew training purposes.

  • Deliveroo Singapore now offers self-collection

    Deliveroo Singapore now offers self-collection

    Self-collection is now possible at Deliveroo Singapore’s new central kitchen, a first by a food-delivery service provider in the territory.

    Deliveroo Editions 2, which has just opened in Lavender, embraces seven restaurants that prepare food for Deliveroo’s online customers. It also lets customers pick up their meal via a new “click and collect” option. They can also opt to eat in a 20-seat dining space.

    At the office and retail building CT Hub 2, Editions 2 is Deliveroo’s second multi-restaurant kitchen and is 1.5 times larger than the 2110sqft Deliveroo Editions in Katong, which opened last year. It features Da Paolo Pizza Bar, Dosirak, Streets of Saigon and Wolf Burgers plus three restaurants also featured at Katong: Aloha Poke, Blu Kouzina and Kurry Kornerplus.

    Deliveroo chief executive/co-founder Will Shu says Deliveroo plans to open more central kitchens soon.

  • Lazada’s Birthday Sale Reveals Singaporeans are Spontaneous Shoppers

    Lazada’s Birthday Sale Reveals Singaporeans are Spontaneous Shoppers

    At the stroke of midnight yesterday, droves of Singapore shoppers clicked “Add to Cart” and checked out their purchases. On the first day of Lazada’s Birthday Sale, 24 April, traffic to the online marketplace surged and it saw a 10x spike in orders in comparison to a regular day.

    The items flying off the shelves first were Lazada’s surprise boxes, worth $100 but available on Lazada.SG at $29 each. The catch – shoppers only knew which brand they were buying from while the contents inside remained a mystery. At midnight, the first 1,300 surprise boxes went on sale, with all boxes running out of stock within the hour. The trend continued throughout the day, with subsequent surprise boxes from household and premium brands consistently selling out within seconds.

    The buying frenzy resulted from Lazada’s 6th Birthday Sale which kicked off yesterday at midnight and runs until 26th April. Across the days, 74 brands are selling the coveted surprise boxes iconic to Lazada’s mega campaigns.

    “Our surprise boxes have been overwhelmingly popular since we introduced them at our last Birthday Sale. To mark our sixth anniversary, we have up to 16,000 boxes from brands and sellers that are available every two hours to satiate the customer demand. These sell out in minutes, so shoppers need to be quick to purchase,” said Mr. Alexis Lanternier, CEO and Head of New Retail, Lazada Singapore. “Beauty brands now form the largest representation of surprise boxes, to cater to the meteoric growth in female shoppers on Lazada,” he added.

    Lazada’s Birthday Sale is a three-day shopping festival with discounts of up to 90% off across 300 official brands and more than 10,000 local sellers, over 600 flash deals and new vouchers up for grabs at 9am daily. Besides the surprise boxes, the top five purchases are:

    1. Tsum Tsum EZ-Link Charm

    2. Apple iPhone X Space Grey 256GB

    3. Dumex Mamil Gold Step 3 Milk Formula

    4. A-Jays Five Earphones

    5. Laneige Multi Cleanser

  • Coach Singapore unveils graffiti wall at the Botanic Gardens

    Coach Singapore unveils graffiti wall at the Botanic Gardens

    Coach Singapore has unveiled a 70m print of New York street graffiti along a wall at the Botanic Gardens MRT station.

    The project was conceptualised in New York City by the US luxury brand to celebrate the symbiotic relationship between fashion and street art.

    It made its debut early this year with a series of murals across the US city put together by 13 influential street artists.

    Singapore’s version, by artists Dain and Such, plays on Coach’s monogram with an urban feel. This collaboration will lead to a special collection of ready-to-wear pieces, tote bags and small leather goods to be launched in July.

  • Lazada Malaysia links up with Singapore

    Lazada Malaysia links up with Singapore

    In the pilot phase, more than 50,000 products from such categories as fashion, health and beauty, home and lifestyle, and sports and travel are being made available to Lazada Singapore shoppers. They include items from such Malaysian brands as Carlo Rino, Pensonic and Swan.

    The move comes on the eve of Lazada’s annual birthday campaign, which offers special promotions and giveaways.
    The DFTZ is the first e-hub outside of China under the Electronic World Trade Platform. Under this roll-out, a single contract grants access to Singapore. Other Southeast Asian countries will be added later.

    The DFTZ provides a centralised bonded warehouse at KL International Airport Aeropolis, which features advanced technology for sorting, shelving, packing and logistics.

  • TWG Tea celebrates with new e-commerce platform

    TWG Tea celebrates with new e-commerce platform

    To mark its 10th anniversary, TWG Tea has launched a global e-commerce website, with Singapore being the first nation to experience it (the company is based in Singapore).

    With a refurbished interface, the site now offers a suite of tools, such as a customised gifting guide and an interactive tea connoisseur service, which recommends a customer’s perfect tea based on a fun quiz.

    There is also richer content so consumers can learn about the brand’s harvests, handcrafted blends, tea merchandise and edible treats.

    With the consumer in mind, the reboot aims to complement and mirror the in-store experience.

    The brand also introduces a premium by-invitation-only membership, “MyTWG”, which offers tea-related rewards and benefits.

  • Subway Singapore applying for halal certificate

    Subway Singapore applying for halal certificate

    Popular fastfood chain Subway is in the midst of applying for a halal certificate for its outlets across Singapore, the restaurant said on Wednesday (March 21).

    Subway Singapore said in a Facebook post that it has “initiated a halal certification process” and that all its restaurants will service only non-pork protein from Wednesday onwards.

    Earlier this year, on Jan 31, the Islamic Religious Council of Singapore confirmed in a tweet that the fastfood chain had “shown interest” in applying for halal certification.

    “We’ve had a few rounds of discussion with them to help them prepare themselves,” one tweet said.

    However, it added that it had yet to receive formal applications for the certification.

    In response, Subway Singapore released a statement listing 60 outlets that have stopped selling pork.

     Among the ingredients replaced were regular bacon, with chicken bacon.