JD Sports Malaysia has ventured into the provinces with its first Penang and Malacca stores.
The Penang outlet is at Sunway Carnival, and the Malacca store at Mahkota Parade.
This follows six other stores for the British sneaker and sportswear retailer in Malaysia, the latest opening in Putrajay’s IOI City Mall in November.
Meanwhile, a JD Sports Singapore Instagram account has surfaced, indicating the retailer may open a store there.
F J Benjamin Holdings Ltd, founded in 1959, is a consumer driven leader in brand building and management listed on the Singapore Exchange since 1995.
F J Benjamin Holdings announced Group net attributable profit of $961,000 for its second quarter ended 31 December 2017 (2QFY18), representing a significant turnaround from a loss of $7.3 million previously.
Group revenue fell 19% to $50.5 million reflecting the absence of several loss-making brands and businesses which were terminated as part of a restructuring exercise that is now completed.
The $12.0 million decline in revenue comprised $6.8 million of discontinued businesses and an $8.2 million reduction in shipments to the Group’s Indonesian associate company which started buying directly from some of its principals in April 2017. The decline in sales was partially offset by a $3.3 million increase in ongoing businesses.
Group CEO Nash Benjamin said: “We are pleased to report a return to profitability after a painful restructuring exercise which is now completed. With consumer sentiment improving in Southeast Asia, management is working hard to grow our business organically whilst exploring suitable opportunities in the consumer and lifestyle segments.”
By business segment, Group turnover from the fashion business rose 13% to $34.6 million after excluding purchases by its Indonesian associate, discontinued brands and adjusting for translation loss. Growth came from existing and new stores opened after 2QFY17. Revenue from timepiece business declined by 17% to $3.8 million.
Gross profit margin was up seven percentage points to 46% in 2QFY18 from 39% in the previous corresponding quarter as a result of tighter inventory management and improved full price sell throughs.
Group operating expenses fell 20% to $22.3 million following cost controls and closure of non-performing stores which yielded savings of $5.7 million. Staff costs fell 17% to $6.8 million, rental of premises declined 24% to $7.9 million while other operating expenses were down 18% to $5.9 million.
As at 31 December 2017, inventory was reduced by six per cent to $38.2 million.
For the quarter under review, Group generated positive cash flows of $10.3 million from operating activities. Net gearing stood at 46% at 31 December 2017 against 53% as at 30 June 2017.
F J Benjamin has a strong footprint in South East Asia, with offices in Singapore, Indonesia and Malaysia, and manages over 20 iconic brands, operates over 250 stand-alone stores and over 1,400 points of sale in these markets.
The Group’s international brand portfolio includes fashion, lifestyle and timepiece brands.
Time Out’s City Life Index, a survey of 15,000 people in 32 global cities, has been released, and it shows which ones promise the most fun and excitement in 2018. Eight of them are on this side of the world.
The survey, conducted by Tapestry Research, questioned residents on a variety of aspects of city life.
It ranked cities in categories across food, drink, culture, friendliness, affordability, happiness, and liveability.
It also “found the key factors that make residents find their city exciting,” from dining out often to feeling proud of where they are from.
Here, their ranking in ascending order along with their overall scores:
31. Singapore (98.7) — Those from Singapore may not rate its culture scene highly, but they do value the city’s safety and are perfectly comfortable walking around at night.
28. Sydney (106.1) — While they may think the city is lacking in things to do and good restaurants, Sydney residents live a healthy life, with 66% having exercised in the past week and 38% never having taken drugs. They know how to party, though, and are the world’s No. 1 vodka drinkers.
26. Hong Kong (109.6) — Seventy-five percent of residents said the public transport in Hong Kong was great, contributing to the city’s overall score. They’re also among the biggest restaurant-goers in the world.
24. Bangkok (111.0) — The survey revealed Bangkok as the world’s street-food capital, with more people eating on their feet than anywhere else — 42 times a year, on average. They’re also the biggest restaurant-goers, with 94% of respondents having visited a restaurant in the past week.
22. Beijing (113.0) — The city may be exciting, but the commute is long, with 6% of Beijing residents even commuting for two to three hours a day.
19. Tokyo (117.7) — Tokyo residents love their food — they visit restaurants more than most other cities on the list.
16. Shanghai (119.5) — It may not come cheap, but there’s plenty to do in Shanghai, where residents say that while it is tough to find love, 79% believe it is easy to find a more casual encounter.
4. Melbourne (132.3) — This Australian city came out above all others in terms of happiness, with nine in 10 residents saying they felt happy within the past 24 hours. They also find it easy to make friends and think the food-and-drink scene is one of the city’s best features.
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In contrast with data about digital transformation and government’s engagement in promoting digital solutions for retail, Singaporeans have not fully embraced e-commerce.
Credit Suisse data show that Singapore falls behind China, US, and Japan in terms of e-commerce usage.
In 2017, Singapore e-commerce comprised 5% of the country’s total retail.
Meanwhile, e-commerce comprised 23% of total retail in China and 8% of retail in the US.
Singapore still beat other ASEAN countries, however. The proportion of e-commerce in total retail in Indonesia is at 3%, nearly 2% in Malaysia and Thailand, and 1% in Vietnam and the Philippines.
Those data also do not match with marketers’ opinions that frame those markets as a huge opportunity given the slow development of retail physical infrastructure. The fact that most brands are present in the main cities only, and cannot reach the remote areas yet, places e-commerce as a complementary service to compensate the offline retail.
However, those data show that there is still a long way to go. Definitely, millennials in those areas are tech-savvy, but the lack of sophisticated infrastructure slow down the process.
Credit Suisse said with 158 million middle class consumers, ASEAN is often seen as the next frontier for the e-commerce market, but e-tailing — online retailing — is still at China’s levels in 2010.
The firm said the entry of Chinese tech giants could change the ASEAN e-commerce scene significantly.
FENDI opened a brand new store in ION Orchard, right in the heart of the main shopping area in Singapore. The new store has a refreshed store concept, reflecting the culmination of its continuous research of highest standards in store design highlighting its deep heritage.
The ION Orchard store will be the first store on Orchard road to have a full men’s universe collection, featuring Ready-to-Wear, Shoes, Leather Goods, and Accessories.
At the same time, FENDI will be launching a new travelling pop-up store in Singapore. The FENDI Kiosk is inspired by the city of Rome and will travel to other parts of Asia, after Singapore. The FENDI Kiosk will be available in ION Orchard from 2 to 18 February.
Singapore’s first global shopping platform EZbuy says it plans to almost double its product offering to 6 million items from brands and sellers in Korea, Taiwan and the US.
It will bring on board a further 100,000 merchants by the end of the year.
Its Korea Marketplace offers more than 10,000 items such as streetwear, cosmetics and personal care products. Traffic growth in Singapore for the K-beauty collection has increased more than 100-fold since its launch last year. Top-selling brands include 3CE, April Skin, Etude House, Laneige and Pony Effect.
The Taiwan Marketplace offers the Buy-For-Me service both on the website and mobile app. Its top products include Biffido, ChiaTe, I-mei, Kiki, Kuaiche and OK Tea (food and snacks); Gracegift, OB Design and Stay Real (fashion, bags, shoes and accessories); and Hanaka Flower, Kose, MKUP and Oguma (health and beauty).
EZbuy says demand has soared for consumer goods from the US. Best-selling brands on its USA Marketplace include Coach, Forever 21, Gap, Kate Spade and Under Armour (fashionwear and accessories); ColourPop and Sephora (cosmetics); and Mother and Kids (beauty and health supplements).
Ogilvy & Mather Singapore has won the local creative account for Pizza Hut following a pitch.
The agency-of-record account marks an extension of Ogilvy’s regional creative brief with the restaurant chain’s parent company Yum! Brands.
Ogilvy did not specify a contract period and instead said the account would be with them until “discontinued”.
Although sister WPP agency J. Walter Thompson previously held the AOR role for Pizza Hut in Singapore from 2012, the agency has said it was not the incumbent on the account and did not pitch.
In a press statement, Ogilvy said it will be tasked with “localising Pizza Hut’s global brand positioning and driving integrated marketing communications”.
This includes creative strategy, campaign execution, and social media programs aimed at “rekindling brand love from Singaporeans”.
“Ogilvy has demonstrated a strategic understanding of the nuances of the Singapore market, the Pizza Hut brand and audience, and delivered creative that embodies our new global brand positioning and how we can clearly differentiate from the competition,” said Merrill Pereyra, chief executive officer of QSR Brands (M) Holdings – the local operator of Yum!
“Having already enjoyed working with KFC in Singapore for three years, we couldn’t be more thrilled to grow our remit with Yum! Brands and to now embark on this creative journey with Pizza Hut as a result of winning the recent pitch. Iconic brands are built across channels, touchpoints and over time – days, months, years,” said Chris Riley, group chairman, Ogilvy Singapore.
“It is this type of multifaceted, integrated work that really excites our team and we believe will give us the opportunity to make the Pizza Hut brand matter even more with consumers.”
The Mitsui Sumitomo Insurance Welfare Foundation (“MSIWF”) is pleased to announce today the award of four grants for innovative solutions focusing on senior citizen welfare and traffic safety at the 11th MSIWF Research Grant Awards 2017 ceremony held at Hotel Michael, Sentosa, Singapore.
The research grants, amounting to SGD38,948 awarded to four researchers in Singapore, focus on impactful research that could support the diagnosis of elderly men with lower urinary tract symptoms; the development of a non-intrusive fall detection monitoring system for the elderly; the adoption of appropriate child car restraints; and improving the elderly’s adherence to their treatment regimen.
In addition to the award of these grants, the Foundation has also made a commitment to donate 200 smart walking stick holders known as Qanemates to the elderly in Singapore and Japan. Designed by two young Singaporean inventors, Seng Ian Hao (aged 14) and Seng Ing Le (aged 12), Qanemate has won numerous national and international innovation awards, including the most recent 2017 Ageing Asia Innovation of the Year Award and the Singapore LTA Engineering Challenge Award.
Founded in 1975 by the Mitsui Sumitomo Insurance Company in Japan, MSIWF advocates for budding and inter-disciplinary research focused on the growing ageing population and the rising concerns over traffic safety in Asia.
This year marks the 11th year of this prestigious grant since its establishment in Singapore. To date, the Foundation has supported a total of 42 projects with a value of over SGD400,000. In total, it has awarded 2,022 grants with a value of over JPY2,339 million (approximately SGD28.2 million) in Japan, Singapore and Thailand since 1975.
Following a rigorous selection process, the 2017 winners in Singapore are:
• Dr Neo Shu Hui, Resident at Singapore General Hospital, for her research in determining the effectiveness of incorporating visual analogue uroflowmetry score (VAUS) in primary care physicians’ evaluation process of elderly men with lower urinary tract symptoms to achieve a cost effective, easily administered and non-invasive tool that could potentially reduce unnecessary referrals to specialists;
• Dr Chong Shu-Ling, Staff Physician, Department of Emergency Medicine, at KK Women’s and Children’s Hospital, for her research on understanding parental knowledge and beliefs on the use (or the lack of use) of child car restraints, in order to create the right approach when communicating to parents on child car safety;
• Professor Tan Kok Kiong at National University of Singapore, for the development of a wearable, non-intrusive, and location-based fall detection monitoring system for the elderly. The wearable device utilises an accelerometer and an additional level of sound-based detection to enhance the accuracy of fall detection;
• Ms Lim Zhiying, Senior Medical Social Worker at Singapore General Hospital, for her research to better understand elderly patients’ perspectives of their illnesses and adherence (or non-adherence) to their treatment regimens, particularly those with multiple chronic illnesses and differing physical dependency who require multiple medications daily.
Mr Alan J. Wilson, Regional CEO of MSIG Holdings (Asia) Pte Ltd, commented: “We are delighted to continue serving the communities we are immersed in, by protecting the things that matter to them. Through the Foundation, we hope to offer meaningful support to advance impactful research that can address the region’s growing concerns of caring for a rapidly ageing population, and road traffic fatalities that have put at risk or claimed many lives each year.”
In 2017, a total of 193 applications were received in Japan, Singapore, and Thailand. Of these, 40 projects (including nine from Singapore and Thailand) were selected, and four from Singapore were awarded research grants worth SGD38,948.
Cotton On Group has confirmed it is withdrawing its fashion brand Factorie from Malaysia and Singapore.
A spokesperson says the move impacts eight outlets, four in each country, but the company will seek to improve its store footprint across the markets. “We value the incredible contribution our team members have made to Factorie …they remain our number-one priority and we’re working closely with them to identify opportunities for their redeployment within the business.”
The spokesperson would not comment on the reason behind the closure. While the stores are scheduled to shutter by the end of next month, Factorie products will still be available online on Zalora.
Factorie entered the Asia Pacific market in 2013. Its latest move follows fashion brands such as Celio and New Look leaving the Singapore market.
Meanwhile, the retail industry in Malaysia saw sales dip 1.1 per cent in the third quarter last year. According to a Retail Group Malaysia report, this was because of a drop in purchasing power among Malaysians.
Alipay, the world’s largest mobile and online payment platform operated by Ant Financial Services Group, along with Global Tax Free today announced that Chinese travelers visiting Singapore can now have tax refunds deposited directly into their Alipay accounts after completing all procedures at the airport. Singapore is the first country in Southeast Asia to offer this service to Chinese tourists.
The move follows the signing of a memorandum of understanding (MoU) between Alipay and Global Tax Free (GTF) last September.
“The Singapore Tourism Board (STB) is pleased to support the launch of Alipay as an additional mode of refund beyond cash and credit card. This will offer Chinese shoppers, who are frequent users of digital payment systems, a more seamless and enjoyable shopping experience in Singapore,” said Ms Ranita Sundra, Director, Attractions, Dining & Retail, STB.
The new tax refund service is easy to use (see image below) and offers a shorter waiting time over credit card refund, which requires a lead time of up to 10 days. Through Alipay, Chinese shoppers can now enjoy a faster and more seamless refund process, as they can get their refunds in Chinese Yuan credited into their Alipay accounts immediately after completing the necessary procedures at the airport. Alipay also offers a strong and favourable exchange rate that further enhances the overall shopping experience for Chinese visitors in Singapore.
China is one of Singapore’s key markets for tourism. Based on statistics published by the Singapore Tourism Board, 2.86 million Chinese travelers that visited the nation in 2016 accounted for S$3.5 billion in Tourism Receipts, of which 43% was contributed by shopping.
Alipay has rolled out the tax refund service in 20 countries worldwide, including South Korea and Germany. Singapore is the first country in Southeast Asia to implement the Alipay tax refund scheme.
Singapore skincare and haircare company A DrBrand is about to expand overseas.
Distributors have already be signed for its DrGL and DrHair lines in China, France, Germany, Hong Kong, London and the US, progressively from the second quarter this year. A number of partners are in negotiations with the business to open concessions and brick-and-mortar stores and to sell online.
Dr Georgia Lee is the co-founder of the brand, which encompasses DrGL skincare products, DrHair hair products and the DrSpa chain. What started as a handful of skincare products in 2009 has evolved into a 40-product line. Since 2016, A DrBrand’s revenue has grown 500 per cent year on year.
In 2011, Dr Lee opened DrSpa, offering face, body and scalp treatments. There are four outlets – at Tangs at Tangs Plaza, Orchard Gateway, Palais Renaissance and TQL Suites, a residential development in Bugis.
Dr Lee’s friend Patsy Ong-Hahl joined A DrBrand in 2016 as co-founder and chief executive. An angel investor who has grown businesses in various industries, including fashion and tourism, decided to join the company partly because she had seen “the amount of blood, sweat and tears” Dr Lee had put into formulating the products.
Singtel has appointed Arthur Wong (pictured) as its new CEO of global cyber security to help fulfil the operator’s ambition of becoming a global leader in the cyber security market.
Wong joins Singtel from IT services company DXC Technology, where he served as SVP and general manager of the company’s security business.
DXC was formed from the $25.6 billion merger of Hewlett Packard Enterprise Services (HPE) and Computer Sciences Corporation (CSC), which closed in April.
Wong has also previously with companies such as HP, Symantec and McAfee in various executive roles. Wong is also the founder of five startups, including IT security companies Secure Networks and SecurityFocus.
“We are very pleased to bring Art on board as we step up efforts to drive growth in our cyber security business,” Singtel CEO Bill Chang said.
“This newly-created position reflects our commitment to scaling the Group’s cyber business and accelerating our journey to becoming a global leader in the cyber security space. Art’s wealth of industry experience will help us optimise our cyber security assets and sharpen our business unit’s focus.”
Singtel’s cyber security revenues grew 84% S$473 million ($361.5 million) in the year ended in March last year and are expected to reach around S$550 million this financial year.
The company employs over 2,000 cyber security professionals across nine advanced security operations centers in APAC, Europe and the Americas, as well as through its Trustwave managed security services business, which the company acquired in 2015.
In December 2017, L’Oréal Singapore partnered with Bolloré Logistics Singapore to donate and deliver nearly 12,000 skincare and haircare products to National Cancer Center Singapore (NCCS) and Humanitarian Organization for Migration Economics (HOME).
L’Oréal Singapore reached out to both philanthropic organizations to provide and transport daily necessity products that would be beneficial to them, while Bolloré Logistics sponsored the pick and pack process.
Products donated to NCCS will be for cancer patients, survivors’ caregivers, staff and volunteers. Dovetailing on SingHealth’s Giving Week from November to December 2017 which encourages giving back to society, staff were treated to L’Oréal Singapore’s skin and haircare products in appreciation for their conscientiousness in caring for their patients, and also to celebrate life and the friendship forged in the fight against cancer. Paying it forward, staff members at NCCS made donations to the Community Cancer Fund to help needy patients pay for their treatment expenses.
Products donated to HOME went to migrant and domestic workers in Singapore who face problems such as mistreatment and abuse, and the shelter services provide a place of refuge and social support for those who have suffered or have been trafficked. At the shelter, these hair and body wash products are a daily necessity, and take a huge burden off the expenses needed to run the shelters.
Bolloré Logistics Singapore Managing Director Frederic Marcerou said, “Bolloré Logistics Singapore teams are proud to be included in this meaningful cause”. “We are greatly supportive and happy that we can contribute our L’Oréal and Garnier products to assist NCCS and HOME’s causes”, said Supasita Kraisri, General Manager of L’Oréal Singapore Consumer Products.
“It is very close to our hearts to be a supporting light to these causes and provide encouragement
and care in practical ways”, shared Isabelle Lim, Corporate Communications Director of L’Oréal
Singapore.
Yitu Technology, a Shanghai based artificial intelligence technology company, has opened a new office in Singapore as part of its effort to boost growth in Southeast Asia, Hong Kong, Macau and Oceania.
The office will act as launching pad for the company to introduce AI and collaborate with public, banking and healthcare sectors across the region, Yitu general manager for Southeast Asia, Hong Kong and Macau Lance Wang said at a launching event on Tuesday (23/01).
“We see huge potential in Singapore and Southeast Asia. With our strength in R&D, we believe we can contribute more to the artificial intelligence sector here,” Wang said.
A 2017 study by global consultants McKinsey & Company estimated Southeast Asia could gain potentially $897 billion in economic value if countries in the region pursue proactive artificial intelligence adoption across all sectors, including manufacturing, financial services, healthcare and transportation.
Founded in 2012 by Leo Zhu, a UCLA-trained artificial intelligence scientist, and Lin Chenxi, a former Alibaba Cloud engineer, Yitu made its breakthrough by implementing AI technology for face recognition in the banking industry.
Its facial recognition technology was rolled out in 2015 at 1,500 China Merchants Bank branches across China to help the bank verify customers. Other banking clients that have implemented the technology include Shanghai Pudong Development Bank and Agricultural Bank of China.
Yitu’s facial recognition technology, capable of analyzing 1.8 billion faces in less than three seconds, was deployed at large-scale events like the G20 meeting and the BRIC Summit in China last year.
The company has also developed an AI system that helps doctors analyze medical data and medical imaging faster and more accurately.
Regarding plans for an expansion in Indonesia, Wang said the company is quite open to collaborate with distributors, banks or even airport operators that are interested in deploying the artificial technology.
Scott Ong, the technical director of Southeast Asia, Hong Kong and Macau at Yitu, said the decision to set up an office in Singapore was made primarily to gather the best talent from around the region. Yitu also plans to open research and development centers in Singapore later this year.
Yitu’s move is in line with Singapore’s plan to boost its artificial intelligence research. The island country set aside 150 million Singapore dollars ($113 million) in funding to support Singapore-based research institutions and plans to train 200 artificial intelligence engineers over the next three years.
“With Yitu setting up an R&D lab in Singapore, it will give the best and brightest AI talent from Singapore a chance to work alongside a technology leader like Yitu to tackle the challenges and problems across industries for Singapore, Asia and the world,” said Ang Chin Tah, director of infocomms and media at Singapore Economic Development Board.
Yitu received $55 million in Series C investments led by Hillhouse Capital Group, a Chinese private equity firm focused on the consumer, industry and healthcare sectors last year. Others who participated in the investment round include Yunfeng Capital, Sequoia Capital, Banyan Capital and ZhenFund.