Retail News CRM

Tag: Singapore

  • Y3 Technologies opens new office, signs MoU with GOGOVAN

    Y3 Technologies opens new office, signs MoU with GOGOVAN

    Supply chain and logistics innovation providers Y3 Technologies (Y3) has officially launched its new 6722 sq. ft. office space. Located in heart of Singapore’s supply chain logistics hub – Bulim Avenue, the move to the new office housed within Supply Chain City highlights its commitment towards further providing businesses with top-notched technological logistics solutions.

    In line with that, Y3 Technologies also unveiled an MoU signing with hyperlocal on-demand delivery provider, GOGOVAN. As Asia’s pioneer app-based logistics platform, GOGOVAN connects users with real-time delivery services. Under the MoU, GOGOVAN will be part of Y3’s supply chain ecosystem, offering enhanced delivery capabilities to Y3’s end-to-end supply chain management system. Both entities will provide joint efforts involving collaborations between management systems and physical last mile deliveries.

    “We are extremely excited to be operating out of our new office space, with the move playing an integral part of our transformational journey over the past 18 months. Not stopping short of our aim to provide continued service excellence as well as business expansion, the partnership with GOGOVAN will further enable us to better cater to businesses in this digital age,” said Marc Dragon, CEO, Y3 Technologies.

    “It is a great opportunity to be able to collaborate with Y3 Technologies and we are extremely honored to be part of this partnership. This collaboration will enable us to be part of Y3’s supply chain ecosystem. We would also like to congratulate Y3 on the new office opening that we witnessed today,” shared Patrick Wong, country manager, GOGOVAN.

    Apart from the MoU announcement, attendees also had the opportunity to witness Y3’s Innovation Showcase and experience first-hand the company’s technological solutions and offerings. CEO, Marc Dragon, also carried out an insightful presentation addressing some of the key trends and challenges that businesses currently face, and the ability of supply chain technology solutions to empower businesses and enable them to overcome these challenges.

    Y3 has also recently acquired leading CRM and eCommerce solutions provider Ascentis, and is actively involved in the Chongqing Connectivity Initiative (CCI), Singapore’s third Government-to-Government (G2G) collaboration with China.

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  • Consortium contracts ASN for INDIGO cable system

    Consortium contracts ASN for INDIGO cable system

    A consortium consisting of Asian operators, Google and telecommunications infrastructure company Superloop have commissioned a new subsea able system linking Singapore, Indonesia and Australia.

    Singtel, Indonesia’s Indosat Ooredoo as well as Australia’s Telstra and education sector network provider AARNet have joined Google and Superloop’s SubPartners to join the INDIGO cable system.

    The cable system, formerly known as APX West and Central, will be deployed by Alcatel-Lucent Submarine Networks.

    It will span around 9,000km between Singapore and Perth on the west coast of Australia, and onwards to Sydney on the east coast. A ranching unit with two additional fiber pairs will connect Singapore and Jakarta.

    Construction of the cable is expected to be complete by mid-2019. The system will use an open cable two fiber pair desgin, providing consortium members with spectrum ownership and giving them the ability to independently adopt technology advancements and upgrades as required.

    “With internet data consumption growing by 70% in Asia last year alone these sorts of investments in international networks are critical for meeting the needs of connected consumers and businesses,” Telstra group MD for global services and international David Burns said.

    “The construction of INDIGO is timely to meet the rising demand for high-speed broadband between Asia and Australia. This cable system complements our global connectivity that links Asia, the US, Europe, Australia and the Middle East,” Singtel Enterprise VP for carrier services Ooi Seng Keat added.

    Superloop has inherited its membership in the INDIGO consortium via the recent acquisition of subsea cable operator SubPartners for $2.5 million. As part of the acquisition Superloop has provided a guarantee involving the meeting of SubPartners’ construction capex costs for the project.

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  • Singapore to raise $815m from spectrum auction

    Singapore to raise $815m from spectrum auction

    Singtel has emerged as the biggest spender in Singapore’s latest mobile spectrum auction, bidding nearly half of the total S$1.14 billion ($815.2 million) set to be raised.

    Singtel will pay S$563.7 million for 75MHz of spectrum, consisting of 40 MHz of 700-MHz spectrum, 10 MHz of 900-MHz spectrum, a right of first refusal for a further 10 MHz of 900-MHz spectrum and 15MHz in the 2.5-GHz band.

    The auction of spectrum in the four bands had four winning bidders. StarHub was the next highest bidder, committing to pay S$349.6 million for 30 MHz of 700-MHz spectrum, 20 MHz in the 2.5-GHz band and a right of first refusal to 10 MHz of 900-MHz spectrum.

    M1 bid S$208 million for 20 MHz of 700-MHz spectrum and a right of first refusal to 10 MHz in the 900-MHz frequency band.

    New market entrant TPG Telecom will meanwhile pay S$23.8 million for 10 MHz of 2500-MHz spectrum. TPG last year won the auction to become Singapore’s fourth mobile operator after bidding S$105 million for a provisional allotment of 60 MHz of 900-MHz and 2.3-GHz spectrum.

    A total of 175-MHz of spectrum was allocated during the auction, and this includes the 900-MHz spectrum due to be re-farmed following the retirement of 2G services. But the total allotment was 50 MHz lower than the 225 MHz requested by the industry, because no other spectrum was available for allocation.

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  • Singapore Airlines locks in daily Airbus A350 for Melbourne

    Singapore Airlines locks in daily Airbus A350 for Melbourne

    Singapore Airlines is locking in its advanced Airbus A350 jet for a year-round schedule between Melbourne and Singapore starting May 11, 2017.

    The sleek jetliner has made a number of short-term appearances on the route, but later this year it’ll be running daily as Melbourne-Singapore flight SQ208 and the SQ207 return leg.

    Travellers at the pointy end can relax in the Star Alliance member’s latest business class seat, evolved from that of the  Boeing 777-300ER flagship.

    It’s an “evolutionary, not revolutionary” approach, reported AusBT’s Suzanne Wu from one of the first SQ A350 flights – “and that’s not a bad thing. Not a whole lot was broke, so not a whole lot needed fixing.”

    Melbourne’s SQ218/SQ217 is also running on an A350 until June 30, after which it will revert to the Airbus A380 superjumbo.

    Asian rival Cathay Pacific already has one Airbus A350 on the Melbourne-Hong Kong route as CX104/105, with a second slotting into CX134/135 from October 29, while Thai Airways says its own on-again off-again Melbourne A350 flights should launch before the year’s end.

    April sees Singapore Airlines celebrate 50 years of flying to Australia, and is tipped to debut its newest Airbus A380 – fitted with next-generation first class suites and business class seats – on the Singapore-Sydney route in October 2017.

    The redesigned first class suites will be fewer in number – down the current superjumbo’s 12 to between six and eight – but much larger in footprint, and have been relocated to the upper deck.

    Next year will see Singapore Airlines restart direct flights between Singapore and the USA, with both New York and Los Angeles in line for an ultra-long range version of the A350 dubbed the A350ULR.

    This long-legged jet will carry all-new business class seats compared to the Melbourne A350, but only around 170 seats – some 80 less than the airline’s regular A350-900s – in order to minimise fuel burn and maximise range for the 18-19 hour journey.

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  • M1 to deploy vEPC solution from Huawei

    M1 to deploy vEPC solution from Huawei

    Singapore’s M1 Limited has announced plans to launch the nation’s first cloud-based virtual enhanced packet core (vEPC) network solution with Huawei.

    The deployment is aimed at further enhancing M1’s core network resiliency, while also enabling dynamic and more efficient use of network resources to support wide-ranging Smart Nation use cases, and shortening the time to market in the deployment of new IoT services.

    By harnessing the latest cloud-computing and Network Function Virtualization (NFV) technologies, M1’s fully distributed and agile packet core network will be able to dynamically deploy core resources wherever they are needed, and provide flexibility to swiftly scale up and down resources based on customer demands.

    Furthermore, with software functions separated from the underlying hardware platforms, the cloud-based virtualized core network allows faster “in-service” software upgrades, as well as significantly reducing downtime for maintenance and testing of new services. Through this, M1 expects to improve its operational efficiency and strengthen network resiliency.

    “The deployment of our agile cloud-based virtualised core network will strengthen our network resiliency and enable us to deploy our resources more efficiently, M1 CTO Denis Seek said.

    “The highly scalable nature of the network will also enable us to meet the dynamic resources demands of new products, shorten the time-to-market innovative products, and enable us to reduce implementation and maintenance costs.”

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  • StarHub has no plans to buy M1

    StarHub has no plans to buy M1

    Despite speculation, Singapore operator StarHub has no intention of acquiring or merging with struggling rival M1, according to reports.

    StarHub’s management does not plan to acquire M1, Singapore’s smallest major operator whose major shareholders recently revealed are conducting strategic reviews of their ownership.

    But the research report noted that it will be up to StarHub’s majority owner ST Telemedia to decide whether to pursue a purchase or merger.

    ST Telemedia owns 56% of StarHub, and is itself wholly owned by Singapore state investment company Temasek Holdings.

    But even if ST Telemedia is interested in a deal, the report notes that Singapore’s regulator is not likely to permit a deal that would result in spectrum holding even if it would allow another operator to acquire M1.

    Maybank Kim Eng has maintained a sell rating for StarHub shares due to what it says are structurally poorer margins.

    StarHub has separately recently announced the appointment of a new chief for its enterprise business group – former Integrated Health Information Systems CEO Chong Yoke Sin.

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  • Courts Singapore Looks to Tackle Southeast Asia’s Growing E-commerce Market

    Courts Singapore Looks to Tackle Southeast Asia’s Growing E-commerce Market

    Courts has recently unveiled its plans to capitalize on the growth of e-commerce in Southeast Asia by rebuilding its online business, originally launched in 2012 with an offering of 7,000 products that has increased to 14,000 today, through a partnership with premier e-commerce agency SmartOSC.

    Under these new plans, Courts will further penetrate into Singapore’s growing e-commerce market, which is estimated to reach US$6.42 billion by 2020, according to research firm Statista.

    Known as a Singapore based retailer specialising in furniture and consumer electronics, from its initial establishment, Courts has seen growth throughout Southeast Asia, most notably in Malaysia and Indonesia.  In April 2016, the business revamped its traditional brick and mortar stores to engage with customers more effectively – the two offline “testbeds” opened in Causeway Point, Singapore and Sri Damansara, Malaysia. As a result of that,  in parallel with an expected boost in productivity from traditional retail stores, the brand now looks at radically reshaping its e-commerce business, moving towards an integrated shopping experience both in-store and online.

    Stan Kim, Court’s Group CIO, explained that their strategy is really about creating an omni-channel experience for customers. The limitations of the current e-commerce framework, including extending functionalities, handling the increasing amount of visitors, as well as personalising the shopping experience, do not fit into the overall commerce strategy.

    “We were looking for partners who not only have technical expertise but more importantly understands how e-commerce and brick-and-mortar stores work together to create a seamless experience for modern shoppers. SmartOSC is a perfect match given their experience in building connected commerce solutions for top retailers, and their capability has been recognized by Magento as the platform’s enterprise solutions partner,” explained Stan Kim.

    Built upon the Magento Enterprise 2.0, combined with innovative technologies for omni-channel, marketing automation, and content management, Courts is looking to establish a new industry-standard for mobile first and user-centric experience. A real-time single view of inventory and customer profiles is activated through integrations with ERP and retail management systems. The brand will also enhance the click and collect offering, which is currently contributing about  50% of Courts’ online sales.

    The platform has also been architected to accompany and facilitate future expansion plans, ready for easier roll-out to other regional markets. Although Southeast Asia’s e-commerce is still in its infancy (relative to European and North American markets), it is expected to grow 32% year on year. The region is currently estimated to be worth $5.5 billion and expected to reach $88 billion by 2025, according to a report by Google and Singaporean sovereign wealth fund Temasek.

    When asked for a statement on the partnership, Stan Kim commented “We’ve been working closely with SmartOSC to ensure an integrated and smooth transition to the new platform. We’re very excited with the current progress – SmartOSC’s depth of knowledge in e-commerce, resource scalability and innovative development has helped us realize our omni-channel potential. We cannot wait to launch this to the public.”

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  • Singtel launches global optimized internet service

    Singtel launches global optimized internet service

    Singtel has launched an optimized internet service promising to provide enterprises with up to ten times faster access to cloud applications.

    The operator’s new ConnectPlus Optimized Internet Service provides assured internet connectivity between enterprise’s offices worldwide by taking advantage of the ConnectPlus IP VPN network comprising around 430 PoPs worldwide.

    Enterprises can take advantage of the network by connecting their offices worldwide using a hybrid WAN configuration capable of delivering assured, high-performance connectivity, which will also allow enterprises to expose less critical data to attack over the public internet.

    The second component of the service is the ConnectPlus Optimised Internet Cloud Access service, which Singtel said can overcome latency problems to boost cloud connection speeds tenfold.

    “Many enterprises use the internet to access their applications on public clouds as it is convenient and widely available. However, internet access can be affected by unstable connectivity or latency issues,” Singtel CEO Bill Chang said.

    “With the Singtel ConnectPlus Optimized Internet service, enterprises are not only assured of reliable and secure internet connectivity, they can also raise their productivity by accessing their data and business solutions in the cloud much faster.”

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  • Burger King, Foodpanda launch April Fool’s Day campaigns

    Burger King, Foodpanda launch April Fool’s Day campaigns

    A Whopper-flavoured toothpaste and a weekend staycation where you can chill in a panda costume… those were the first two April Fool’s Day pranks orchestrated by marketers this silly season.

    Putting aside for a moment the question of whether launching such promotions several days in advance really qualifies as an April 1 stunt, the issue is whether the marketing programs are designed to make the news media look foolish in an era of growing chatter about “fake news”, or are just an entertainment for consumers.

    Foodpanda Singapore issued a media release on Wednesday promoting a “wellness retreat” dubbed The Pandanctuary.  The food delivery service cited “UK research” (not referenced) as finding that more than 10,000 people “enjoy dressing up as animals to escape the pressure of modern living”.

    In the release, MD Aspa Lekka (her name checks out on Google) says: “With studies showing that dressing up like an animal is scientifically proven to reduce stress levels, we wanted to give our busy customers the opportunity to see what it’s like to live like our ‘chilled out’ mascot for the weekend – the beloved panda.”

    The release was distributed by Leon Tan, an account executive with W, whose signature file references an award for “Best new PR consultancy in Asia Pacific”. We sent Tan an email asking him to confirm it was an April Fool’s Day stunt. He didn’t reply.

    But the sheer detail of the promotion was impressive enough to fool the likes of mainstream media including the South China Morning Post, which appeared to treat it seriously in an online article.

    According to the release, Foodpanda has partnered with Studio M Hotel on Nanson Road to create “the ultimate panda experience, decking out bespoke ‘panda rooms’ with bamboo plants, play ropes and large water bowls”. Catering will be provided by Jamie’s Italian.

    The biggest hint of mischief in the campaign was at the bottom of the application form where those interested in participating in the “pandamonium” had until “23.59 on March 31” to apply.

    Here’s a video of The Pandanctuary:

    A whopper

    Meanwhile in Europe, Burger King France and its ad agency Buzzman claim to have teamed up with “experts” to create a signature toothpaste with extracts that recreate the distinctive barbecued beef flavour of its Whopper burger (also note that in western slang, “whopper” means a massive lie).

    They even created a realistic 60-second commercial to promote it, in movie-trailer style with the memorable tagline “the Whopper’s taste is so good, some people will do anything to keep it in their mouths”:

    As Marketing Interactive reported online, considering April Fool’s Day is this week “we can safely assume this is a joke – but we will report back if we get our hands on a sample”.

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  • Katrina Group plans So Pho restaurants for Hong Kong

    Katrina Group plans So Pho restaurants for Hong Kong

    Singapore’s Katrina Group, an F&B business specialising in multi-cuisine concepts, has taken a step toward opening So Pho restaurants in China and Hong Kong.

    It has signed a non-binding memorandum of understanding with fast-casual restaurant group Ajisen (China) Holdings regarding collaboration on the restaurants. The parties will negotiate and determine if this will be through a franchise or JV, with a definitive agreement expected to be finalised within the next few months.

    Ajisen China, which is listed on the mainboard of Hong Kong Stock Exchange, has a chain of restaurants under different brands in China and Hong Kong.

    Katrina founder/CEO/executive chairman Alan Goh says the collaboration is a step toward the company’s aim of growing its overseas presence and diversifying its revenue stream.

    Katrina Group owns and runs 33 restaurants in Singapore under nine different brands, including Bali Thai and Streats, which services streetfood-style dishes. It also has two restaurants in China.

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  • Zoff to open flagship in Orchard Central

    Zoff to open flagship in Orchard Central

    Japanese eyewear chain Zoff is expanding into Southeast Asia with a flagship outlet at Orchard Central in Singapore.

    Zoff, known for consistently introducing two collections every month, has more than 200 stores in Japan and China. Its Singapore flagship store at Orchard Central will open on April 7 with a traditional lion-dance performance plus a performance by dance duo Scrach Marcs.

    Zoff president/CEO/COO Teruhiro Ueno will attend the opening and is expected to speak about the company’s expansion plans.

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  • DFS and Changi celebrate the sixth Singapore MOWS event

    DFS and Changi celebrate the sixth Singapore MOWS event

    DFS Group and the Changi Airport Group celebrated the sixth annual Masters of Wines and Spirits event (MOWS) in Singapore last Saturday (25 March) with a collection of more than 60 Cognac expressions, plus wines and whiskies from more than 50 houses.

    This culminated in ’a spectacular gala event’ on Singapore’s famous Tras Street, with the specially selected collection now set to be exhibited in store and available for sale at DFS, Singapore Changi Airport’s Wines and Spirits Duplexes at Terminal 2 and 3.

    DFS management toast to the sixth annual Masters of Wines and Spirits
    DFS management makes a toast to the sixth annual Masters of Wines and Spirits event.

    DFS said that this year’s event also featured hands-on master classes and educational tastings for select VIP guests.

    MULTIPLE ACTIVITIES AND EXPERIENCES

    At the Dalmore house, Master Blender Richard Patterson also hosted a bespoke tasting to showcase The Dalmore’s ‘rich heritage and artistry’. At the same time, Frederic Dezauzier, CAMUS’ Global Brand Ambassador introduced guests to the smallest and rarest cru in the Cognac region, Borderies.

    This took the form of ‘a unique tasting experience’, featuring a selection of CAMUS Borderies Single-Cru Cognacs, including a Borderies Vintage and an exclusive Borderies blend that has never been released. Château Margaux’s Regional Ambassador Thibault Pontallier also conducted a vertical tasting across decades of the brand’s history.

    Thibault Pontallier, Asia Brand Ambassador Château Margaux, walked VIP guests through a vertical tasting across decades of Château Margaux's storied history
    Thibault Pontallier, Asia Brand Ambassador at Château Margaux (centre left, red tie), took various VIP guests through a vertical tasting across decades of Château Margaux’s long history.

    Guests were also able to meet various whisky brand ambassadors at DFS’ very own The Whiskey House – an exclusive and interactive whisky retail concept available to travellers at DFS, Singapore Changi Airport.

    This was moderated by DFS Group’s Director of Spirits, Frederik Vanden Bulcke and it included interactive discussion and tasting guidance with Brendan McCarron of Glenmorangie, Brian Kinsman of Glenfiddich, David Stewart of The Balvenie and Mike Miyamoto of Hibiki – all sharing their thoughts on heritage and innovation in the whisky industry.

    Commenting, Brooke Supernaw, DFS Group’s Senior Vice President Wines, Spirits, Tobacco, Food and Gifts said: “Returning to our traditional gala format, this year’s Masters of Wines and Spirits created an intimate and curated experience, tailored for our customers.

    Each piece in the collection was selected with our customers in mind, bringing together a spectacular array of the world’s finest and rarest wines and spirits right in the heart of historic Singapore.”

    CHANGI AIRPORT GROUP IS A KEY PARTNER

    As reported, the Masters of Wines and Spirits curated collection will be available for travellers and shoppers at DFS, Singapore Changi Airport’s Wines and Spirits Duplexes at Terminals 2 and 3 – following last Saturday’s gala event.

    DFS concluded that the 2017 collection included 27 Cognacs and whiskies and more than 25 vintage wines and Champagne offerings – many exclusive to DFS. As featured earlier this month, the retailer said that the highlights of the collection included the following: Bruichladdich Special Release; CAMUS 65 Year Old; Château Mouton Rothschild 18 Vintages Vertical; Château Lafite Rothschild 1982 Vintage Imperiale; Château Margaux Pyramid Set of 1990 Vintage; Dom Pérignon Malle P2; Glenmorangie Pride 1974; Hibiki Arita-yaki 2016, Kutani-yaki 2016; Martell Grand Champagne 1920; Masi Amarone Vertical Set with Watch; Penfolds Bin 707 Boeing 6L; Louis XIII Le Mathusalem; The Dalmore Richard Paterson 50 Year Old; and The Macallan Fine & Rare Treasury Collection.

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  • Samsung store catches fire a day before Galaxy S8 announcement

    Samsung store catches fire a day before Galaxy S8 announcement

    A Samsung outlet in Singapore caught fire this morning, causing neighbouring shops in the mall to close temporarily for safety and cleaning, reports Channel News Asia.

    It’s not the first time Samsung has had trouble with fires. The company had to kill the Note 7 line following two recalls after reports of the phones exploding into flames last year. Its washing machines were also defective, and could have exploded, forcing the company to also recall the products citing “injury risks.” The two incidents have led to backlash from Samsung customers.

    “We were alerted to a fire at the Samsung Experience Store at AMK Hub in the early hours of Tuesday morning before store opening hours,” the South Korean phone manufacturer confirmed in a statement.

    “The fire was extinguished by water sprinklers in the store and no one was injured during the incident. We are currently assessing the property damage and working closely with the authorities to determine the cause of the fire.”

    The store will remain temporarily closed while investigations are ongoing, says Samsung.

    Samsung will announce the Galaxy S8 tomorrow — hopefully the new phones won’t go up in flames too.

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  • Singapore fintech startup OOjiBO raises S$3.6M to serve the unbanked

    Singapore fintech startup OOjiBO raises S$3.6M to serve the unbanked

    Singapore-based fintech startup OOjiBO has raised a S$5 million (US$3.6 million) in a  Pre-Series A round led by Centurion Private Equity. Wong Kok Hoe, Director at Centurion, managed the investment and joined OOjiBO’s board of directors.

    The mobile payments platform plans to use its investment to launch into two new emerging markets in Southeast Asia — Indonesia and Thailand. It will also begin cross-border remittance within countries where OOJiBO has a presence. Currently, OOjiBO is only available in Myanmar.

    Launched in November 2014, OOjiBO was founded by co-founder and CEO Yeng Fook Hoo, a veteran in the banking industry with over 40 years of experience. Prior to OOjiBO, Yeng, who is in his 60s, started and listed the largest credit card terminal and payment system in South East Asia, GHL System. He retired after running it for 15 years.

    After three years, he came out of retirement to build OOjiBO with two co-founders, William Pu and Wong Hok Seng, also experienced professionals in the finance industry.

    OOJiBO says its solution works as a full stack retail banking system on a mobile phone. It offers a full suite of services from p2p transfers, retail payments, interest bearing accounts, e-commerce payments, cross-border remittance, cash in/cash out service, debit/credit card virtulisation, utilities payment and mobile phone top-ups.

    It is phone agnostic and can be used on both smartphones and feature phones. In areas where data connections are poor or non-existent, the OOjiBO system will automatically switch to an STK (SMS) format. This solution allows it to deliver financial inclusion to people living in rural areas or places with frequent electricity outages.

    “We have also designed ourselves to solely work on the mobile network and not requiring other infrastructure or the need to fully integrate into an existing core bank system. This has allowed us to bring the cost of reach and banking significantly lower. Basically, beyond your existing device, there is no other infrastructure that is needed to be installed or built”.

    One key feature that OOjiBO says makes it different from many e-wallets or digital platforms, which typically relies on a frontend system, is its agency network.

    “We run our own network of agents to create branchless banking. We believe in an offline-online model. Through owning our own agency network we are able to control our cost structure and not rely on other people,” says OOJiBO.

    “Our agency network has also allowed us to reach areas that were not previously available, for example, the Kachin state in Myanmar. Kachin state is still going through civil war and is a mountainous area, however through our agency network, we are able to operate within the region to bring much needed financial inclusion to the people of Kachin.”

    The other key feature of its system is its security feature.

    OOjiBO has created a hardware and software security chip that enables encryption and key rotation system. Depending the level of KYC and limit of transaction amount, it issues a physical sim sticker that contains a security chip and module that will do encryption each time a transaction is sent and received.

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  • CapitaLand inks contract to manage mall at new SingPost Centre

    CapitaLand inks contract to manage mall at new SingPost Centre

    CapitaLand, through its wholly owned shopping mall business, CapitaLand Mall Asia, has signed a contract to manage the upcoming mall at the new SingPost Centre.

    This is the third mall management contract that CapitaLand has inked in slightly over six months, after securing the first two in China, the comnpany said on Tuesday (March 28). With this contract, CapitaLand said its network in Singapore will increase to 20 shopping malls with a combined gross floor area (GFA), excluding car park, of about 14.2 million square feet (sq ft).

    Mr Jason Leow, CEO of CapitaLand Mall Asia, said, “The signing of our first third-party mall management contract in Singapore – also our third across Asia in quick succession – demonstrates the scalability of our asset-light expansion strategy to grow our assets under management. We continue to be on the lookout for suitable opportunities to enlarge our retail footprint through third-party management contracts, to complement our core strategy of developing, owning and managing malls in Asia.”

    SingPost Centre is located in the up-and-coming Paya Lebar Central, next to the Paya Lebar MRT interchange station. CapitaLand currently owns and manages three malls in the eastern part of Singapore, namely Tampines Mall, Bedok Mall and Jewel Changi Airport, which is scheduled to open in early 2019.

    CapitaLand will oversee the pre-opening and retail management for the five-storey SingPost Centre mall, which has 269,000 sq ft of GFA, excluding car park, and a net lettable area of about 175,000 sq ft.

    Targeted to open in the second half of this year, SingPost Centre will house the new General Post Office, which combines traditional counter service with technology-enabled innovations such as POPStations and eSAM machines over a space measuring 3,330 sq ft. The General Post Office will also have a heritage corner, where customers can enjoy a learning journey through SingPost’s 150 years of history.

    Other tenants at SingPost Centre include NTUC FairPrice, Golden Village, Kopitiam, other retail brands, family entertainment outlets and enrichment centres.

    CapitaLand announced last August it is embarking on enlarging its retail footprint through management contracts with the signing of an agreement to manage the retail component of Fortune Finance Center in Changsha, China. In January this year, CapitaLand signed another agreement to manage a mall in La Botanica township in Xi’an, China.