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  • Nearly 30 speakers lined up for Property Report Congress Singapore 2016

    Nearly 30 speakers lined up for Property Report Congress Singapore 2016

    Singapore is the next stop of the Property Report Congress in Singapore, where the acclaimed conference series hosted by Property Report, Asia’s leading luxury real estate, architecture and design media platform, began last year.

    This year’s two-day Property Report Congress Singapore event on 23-24 November 2016 at the Shangri-La Hotel will bring together nearly 30 experts from Singapore and around around the world to discuss the current state of the region’s real estate markets.

    Crucial issues to be discussed include: the cooling measures in Singapore, infrastructure and branded projects in the Philippines, transit-oriented development and property market consolidation in Malaysia, the impact of tax and property law in Indonesia, potential oversupply in Cambodia, Bangkok’s changing urban skyline and land tax policy in Thailand, foreign investment and joint ventures in Vietnam, and affordability issues and the emerging market of Myanmar.

    Among the confirmed speakers at Property Report Congress Singapore 2016 are respected industry leaders from Asia and beyond, such as Kent Wertime, co-CEO of Ogilvy and Mather Asia Pacific, who will give the opening keynote address “Future Markets: Accessing the Next One Billion Middle Class Consumers.”

    Other panel moderators will come from eight countries of the South East Asia Property Awards, including: Simon Griffiths, senior associate director, CBRE Cambodia; Rudolf Hever, executive director, Alternaty Real Estate (Vietnam); Richard Emerson, managing director, Emerson Real Estate (Myanmar); Prem Kumar, executive director, Jones Lang Wootton; Suphin Mechuchep, managing director, Jones Lang LaSalle Thailand; Hendra Hartono, CEO, Leads Property Services Indonesia; Cyndy Tan Jarabata, president, TAJARA Leisure & Hospitality Group Inc (Philippines); and luxury expert Alexander Karolik-Shlaen, managing director, Panache Management (Singapore).

    Conference delegates will have a chance to meet and learn from Asia’s industry leaders who are redefining the property landscape in ASEAN and Asia Pacific. There will also be a dedicated panel session with the Real Estate Personality of the Year winners from Southeast Asia in 2016, including: Cambodia’s Rithy Sear, chairman of Worldbridge Group of Companies; Thailand’s Suriya Poolvaralaks, managing director at Major Development PLC; Indonesia’s Herman Nagaria, director of property and business development at PT Summarecon Agung Tbk; and Singapore’s Francis Koh, managing director and CEO of Koh Brothers Group Limited.

    As always, the opening and closing remarks will be given by Liam Aran Barnes, brand director and editor-in-chief of Property Report, while digital editor Pippa Woodhead will moderate the panel discussion featuring the Real Estate Personality of the Year 2016 winners.

    Since debuting in Singapore in October 2015, five successful Property Report Congress events have been held in Manila, Ho Chi Minh City, Yangon, Kuala Lumpur and most recently in Bangkok, which welcomed the series’ biggest audience in 2016 of about 140 delegates, speakers and media.

    Property Report Congress has been described as “a great networking event and platform for people in the real estate industry to come together and share ideas,” according to Bertil De Kleynen, sector director for Architecture, Interiors & Landscape at Atkins Global, and featured speaker at the Ho Chi Minh City conference.

    Day 1 of Property Report Congress Singapore 2016 will discuss the current state of the region’s key and emerging markets. It will run from 08:00 to 17:30 (including networking lunch and coffee break), followed by the cocktail networking reception in the evening from 17:30 to 19:00.

    Day 2 will run from 08:00 to 13:00 and include activities such as a country break-out sessions, networking lunch and networking session. Discussions on Day 2 will focus on real estate trends in 2017 and the industry’s future.

    Organised by PropertyGuru, Asia’s leading online property group, the conference will followed by the annual South East Asia Property Awards 2016 grand finals on the 24th, where around 600 of the region’s top real estate developers, executives and industry professionals will gather to reward the finest developers and projects in eight ASEAN countries.

    Property Report Congress Singapore 2016 is supported by official property portal PropertyGuru.com.sg, the country’s leading property website, and top media partners such as the Oxford Business Group and Retail Asia. OBG members are entitled to a discount of 30 percent on ticket prices.

    For registration and enquiries, email conference director at [email protected] or visit the official website: AsiaPropertyAwards.com/Congress/

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  • SingPost opens regional ecommerce logistics hub in Singapore

    SingPost opens regional ecommerce logistics hub in Singapore

    Singapore Post Limited (“SingPost”) announced the launch of its Regional eCommerce Logistics Hub (“eComm Log Hub”) located at the Tampines Logistics Park. The S$182 million facility is SingPost’s largest eCommerce logistics investment in Singapore to date.

    The eComm Log Hub is officially opened by Singapore’s Deputy Prime Minister and Coordinating Minister for Economic and Social Policies, Mr Tharman Shanmugaratnam.

    SingPost’s eComm Log Hub is a three-storey facility housing two warehousing floors, 150 simultaneous loading bays as well as an office block. The ground floor of the building houses a fully automated parcel sorting facility with a capacity of up to 100,000 parcels a day, and end-to-end sorting, shipping and returns management capabilities that enable quicker order fulfilment. The total built-up area is 553,000 square feet.

    Automation plays a big part in the eComm Log Hub – beyond the fully automated parcel sorting system on the first floor of the facility, the second floor warehouse is also automated, resulting in the entire eComm Log Hub being integrated end-to-end from the eCommerce front-end platform to delivery. The eComm Log Hub will process parcels for delivery within Singapore and those to be shipped to destinations worldwide.

    Said Mr Chua Taik Him, Deputy Chief Executive Officer of IE Singapore, “IE Singapore has been working closely with SingPost on strategies to scale its business in the region, facilitating its projects and partnerships with both brand owners and last mile fulfilment players. Given the strong growth of eCommerce in Southeast Asia, the launch of SingPost’s facility will further support its local and overseas growth. This will also enhance Singapore’s capabilities in fulfilment and facilitate more regional eCommerce trade flows.”

    The Management Team of Sephora Asia said, “This October, SingPost has begun providing us with warehousing services in Australia to handle our beauty and fragrance products. At Sephora, we believe in giving our customers a great end-to-end experience from the time they log in to the moment they receive their purchases. SingPost’s support is critical to delivering that flawless customer experience. With their new eCommerce Log Hub and great solutions like POPStations, we recognise that SingPost is propelling the eCommerce industry forward. We have found SingPost’s professionals to be very conscious of accuracy, cost and service quality.”

    Mr Simon Israel, SingPost’s Chairman, said, “The opening of our Regional eCommerce Logistics Hub is another milestone in the expansion of SingPost’s eCommerce logistics network, which now spans 19 markets across Asia Pacific, Europe and the US. Singapore’s regional connectivity makes it ideally positioned to be a centre for eCommerce. Our Regional eCommerce Logistics Hub leverages on this geographic and infrastructural advantage. Everything in this building is scalable, which means we can keep upgrading it to meet the needs of the future.”

    He added, “With the Regional eCommerce Logistics Hub, our POPStation network and our investments into technologies for new postal and logistics solutions, we are prepared for a sustainable future of car-lite cities and the sharing economy. SingPost is therefore able to shape and play a broader role in how urban logistics is done in Singapore.”

    SingPost’s Centre of Innovation

    At the opening ceremony, SingPost also launched its Centre of Innovation (“COI”).

    The COI was set up in August 2015, with support from the Economic Development Board, to carry out research into new logistics and postal services and products, in collaboration with research institutions and institutions of higher learning.

    Emphasis will be placed on new technologies such as robotics and automation to meet the needs of future customers and markets as well as becoming the tools for SingPost’s next generation of employees.

    Some initiatives now being carried out by the SingPost COI are:

     Deliver significant enhancements to the eCommerce logistics platform which will help support the smart logistics and smart nation initiative;

     Roll out a new version of the Self-service Automated Machine (SAM) platform to enhance customer experience and provide a seamless omni-channel experience encompassing the kiosk and the digital postal office;

     Bring the online and offline world of retail shopping to the SingPost mall, which will provide exciting merchant offerings and delivery options to the customer. Retail merchants will be able to experiment with unique ways of interacting with customers to boost revenue and increase loyalty;

     A digital transformation of the post office to provide customers options to transact with greater ease and pace; and

     Innovate last mile delivery options through building the next generation of POPStations and experimenting with drone delivery across the island.

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  • The Luxury Collection Hotels & Resorts makes Singapore debut

    The Luxury Collection Hotels & Resorts makes Singapore debut

    The Luxury Collection® Hotels & Resorts, part of Marriott International, today announced it will debut the brand’s first-ever hotel in Singapore in early 2017. In partnership with boutique developers Harpreet and Satinder Garcha, The Duxton Club, a Luxury Collection Hotel, Singapore will showcase the island’s rich history with stunning redesigns from Anouska Hempel and Jacques Garcia of traditional shophouses–a prevalent building in Singapore’s architectural heritage–in the Tanjong Pagar conservation district. Both preserving the past and offering guests a contemporary luxury experience, the multi-million-dollar renovation will bring to life Singapore’s roots in an authentic and indigenous way.

    “The debut of a hotel in Singapore in collaboration with two iconic designers marks an important milestone for The Luxury Collection, as we continue to expand our global footprint in new destinations around the world,” said Meredith Dichter, Global Brand Director, The Luxury Collection. Recently surpassing 100 hotels in more than 30 countries, our mission to offer global explorers truly indigenous experiences wherever they travel will reach new heights with the opening The Duxton Club next year.”

    “We are thrilled to bring The Luxury Collection to Singapore,” said Rajit Sukumaran, Senior Vice President, Acquisitions & Development, Marriott International Asia Pacific. “We are confident that The Duxton Club will make its mark on the country’s highly competitive hospitality market, and we’re proud to work with Harpreet and Satinder Garcha, who are passionate about design and adaptive-reuse heritage projects.”

    The Duxton Club will reside in two pre-war colonial shophouse buildings within walking distance of one another: The Duxton House on Duxton Road and The Duxton Terrace on Murray Street. Strategically situated in the Duxton area, the two buildings are adjacent to the emerging Central Business District of Tanjong Pagar and border the culturally rich Chinatown area. In recent years, the neighborhood has enjoyed a revival, emerging as the epicenter for today’s global traveler as one of the island’s most stylish leisure and dining neighborhoods. The Duxton House is expected to open in early 2017, while The Duxton Terrace is slated to open in July 2017.

    Originally constructed in the early 19th century, The Duxton House features 50 guestrooms in eight adjoining three-story buildings reimagined by celebrated designer Anouska Hempel, whose comprehensive interior design background spans hotels, restaurants, retail spaces and luxury residential projects including the Hempel Hotel and Blakes Hotel in London, and high-end retail stores around the world such as Van Cleef and Arpels and Louis Vuitton. Under the strong interior design identity of Hempel, The Duxton House will be restored to its former glory with rich oriental influences that honor the property’s unique heritage and timeless sense of luxury and glamour. Once completed, the hotel will include a destination restaurant, signature bar and private cigar room – all offering refined experiences for discerning guests seeking authentic, indigenous experience deeply rooted in the destination.

    Just 600 feet away, with convenient access to the upscale establishments of Tras Street and Club Street, The Duxton Terrace comprises fourteen adjoining three and four-story colonial-era buildings with 138-guestrooms. Originally, completed in 1929, the structure likely served Chinese merchants before being converted to army barracks. Since then, the building has been adapted for different purposes, from housing a hawker food alley to restaurants and office space. The property’s most recent renovation project received the Architectural Heritage Award from the Urban Redevelopment Authority, further solidifying the building as a cherished and historic landmark.

    The Duxton Terrace will be restored to its original grandeur by renowned architect and designer Jacques Garcia, whose extensive design portfolio includes the restoration of The Louvre and The Palace of Versailles. The hotel will house five captivating food and beverage venues including a signature bar and lobby bar, an all-day dining restaurant, a poolside bar and an exclusive member’s club. Additional facilities will include an outdoor swimming pool, fitness center and cigar room. Guests of The Duxton Club will enjoy full use of the facilities at both premises.

    Satinder Garcha, CEO of Garcha Hotels, said, “Using our mutual strength to re-create the charms of a bygone era, the adaptive reuse of such historic buildings by two of the world’s best designers, Anouska Hempel and Jacques Garcia, will offer guests an unforgettable boutique hotel experience while contributing to urban sustainability and preservation of our vibrant past.”

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  • StarHub, Nokia achieve 4.3Gbps speeds over cmWave

    StarHub, Nokia achieve 4.3Gbps speeds over cmWave

    Nokia and Singapore’s StarHub have jointly demonstrated speeds of 4.3Gbps and 1ms latency using 5G centimeter wave (cmWave) frequencies.

    The company’s have been trialing Nokia’s AirScale integrated radio access network platform over StarHub’s live mobile network.

    The 5G demonstration was conducted at StarHub’s headquarters as part of the operator’s ongoing trials into future technologies to facilitate emerging use cases such as virtual and augmented reality streaming and e-health applications.

    Centimeter wave refers to carrier frequencies between 3-GHz and 30-GHz, which compares to millimeter wave frequencies above 30-GHz. These higher-band frequencies are expected to form a key component of future 5G networks.

    “5G, while still a distance away, will become reality in the time to come. Through our ongoing trials of new technologies such as Nokia’s integrated AirScale solution, we are exploring how we can use 5G technologies to enrich the lives of our customers,” StarHub head of network engineering Chong Siew Loong said.

    AirScale is designed to allow the simultaneous operation of multiple generations of network technologies, such as 3G, 4G and 5G. The platform promises 60% lower energy consumption and a smaller physical footprint compared to previous generation radio access technologies.

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  • KFC Malaysia parent plans IPO

    KFC Malaysia parent plans IPO

    KFC Malaysia parent QSR Brands (M) Holdings, is arranging an IPO next year expected to raise about US$500 million.

    The company, which has both KFC and Pizza Hut restaurant concessions in Southeast Asia,

    Citigroup, Credit Suisse Group and Malayan Banking will lead the offering. QSR has also chosen CIMB Group Holdings and RHB Bank to work on the share sale, reports the Business Times.

    The Kuala Lumpur-based company is seeking a listing after first-time share sales raised US$270 million this year.

    CVC, Employees Provident Fund and Johor Corp took QSR Brands private in 2013. It manages more than 730 KFC restaurants in Brunei, Cambodia, India, Malaysia and Singapore, as well as more than 450 Pizza Hut outlets in Malaysia and Singapore.

  • OCBC adds Siri, iMessage support to Pay Anyone

    OCBC adds Siri, iMessage support to Pay Anyone

    OCBC Bank has integrated its Pay Anyone e-payment service with Siri and iMessage to enable peer-to-peer payments supported by voice and messaging technology

    OCBC has enabled payment commands on its mobile banking app to be facilitated via Apple’s Siri or iMessage.

    Users can now issue a voice command to Siri, Apple’s virtual assistant, specifying the payee and payment amount to make payments. Customers can also send money to others via iMessage, Apple’s messaging platform.

    The Siri and iMessage services for OCBC Pay Anyone, the payment service within OCBC’s mobile banking app, are available to all OCBC Bank customers using iPhone devices running the iOS10 software and the latest OCBC Mobile Banking app. Payments are authenticated by the customer using their mobile banking credentials.

    To send money using Siri, users need to instruct Siri with a voice command indicating whom from their contact list to send money to, and the amount to send. Upon making this request, the Siri interface will pop up on the iPhone, asking the user to confirm the payment details. Once the payment details are confirmed, the user will be guided to complete the transfer using OCBC Pay Anyone.

    Additionally, users can choose to send money via iMessage while texting their friends, without leaving the conversation by closing the messaging app or opening another app. Within the iMessage conversation screen, users can choose the OCBC Pay Anyone iMessage app to initiate payment directly to the person they are chatting with.

    The app automatically populates the recipient’s name, and the user just needs to indicate the amount to send and complete the transaction with OCBC Pay Anyone. Once the money is sent, the OCBC Pay Anyone app will close and the user can resume chatting within the same iMessage window.

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  • Singapore lauded as top cruise destination once again

    Singapore lauded as top cruise destination once again

    Singapore was just named top cruise destination by industry experts for a second time in three years at the 10thSeatrade Cruise Awards last Thursday (Sep 22). This accolade is another feather in the cap for Singapore, which was voted as the top Asian port of call in the inaugural Cruise Critic Cruisers’ Choice Destination Awards earlier this month.

    “We are honoured that Singapore remains prominent in the minds of the cruise community as an attractive cruise hub. This is testament to our efforts to grow Singapore’s cruise industry and strong destination appeal,” said Miss Annie Chang, Director, Cruise, Singapore Tourism Board (STB).

    In growing Singapore’s appeal as a cruise destination, STB has been leveraging Singapore’s superb air connectivity, world-class berthing facilities at the Singapore Cruise Centre and Marina Bay Cruise Centre Singapore, and proximity to myriad cruise offerings in the region.

    Strengthening Singapore as a cruise hub

    The award also caps off years of developmental work that STB, cruise lines and trade partners had put in to grow the cruise industry in Singapore. Some of the initiatives include forging more than 10 marketing partnerships with cruise lines and trade partners to drive cruise passenger numbers, training more than 800 travel agents overseas to raise their capability to sell cruises from Singapore, and widening Singapore’s reach to consumers via multiple media platforms in six major source markets.

    STB also actively works with local trade partners to curate immersive and differentiated pre- or post-cruise experiences to enrich visitors’ stay in Singapore. In August 2016, STB organised a workshop for cruise operators to experience the unique offerings of local bookbinding atelier Bynd Artisan and homegrown scent artisans Je t’aime Perfumery. Participants tried their hands at creating bespoke leather nametags and scent blends of native orchid oils, seeding ideas of innovative experiences which may be offered to cruise passengers.

    Developing Southeast Asia as the cruising region of choice

    Being the ASEAN lead co-ordinator for cruise development in Southeast Asia, Singapore spearheaded initiatives such as the creation of the first Cruise Southeast Asian brand to promote the region in a unified voice. STB also developed tools such as a regional cruise port and attractions map to help cruise lines develop itineraries.

    These efforts have proved fruitful. Singapore experienced a 14% year-on-year increase in cruise passenger throughput in 2015, and major cruise line Royal Caribbean International will have their longest-ever homeporting season in Singapore starting October 2016.

    Said Ms Chang: “Singapore and Southeast Asia are set to ride the wave of growth for cruising in Asia and STB will continue to push the boundaries in establishing Southeast Asia as the cruise region of choice. As we mark ASEAN’s golden jubilee celebrations next year, we will embark on a VisitASEAN@50 campaign to encourage more visitors to experience cruising in Southeast Asia.”

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  • Astro partners StarHub to offer Go Shop in Singapore

    Astro partners StarHub to offer Go Shop in Singapore

    Astro Malaysia Holdings Berhard (Astro), a leading media company in Malaysia, and StarHub Cable Vision Ltd. (StarHub), a leading info-communications company in Singapore, have entered into a partnership to offer Go Shop, a 24/7 shopping destination on TV, online and mobile to customers in Singapore. Starting in November, StarHub customers will be able to enjoy a new way of shopping via informative and entertaining demonstrations on Go Shop. Go Shop is Mandarin channel (StarHub TV Channel 110), which officers customers 24/7 shopping on StarHub TV, or via any device of their choice.

    Dato’ Rohana Rozhan, Group Chief Executive Officer of Astro said, “Since its launch in January 2015, Go Shop has been providing Malaysians the comfort and convenience of Home Shopping on all screens and devices. We are privileged to now extend this service to our sophisticated and affluent Singaporean neighbours through our partnership with StarHub. Our aspiration and promise is to strive to provide compelling product and value propositions, in an entertaining and informative way.”

    Tan Tong Hai, StarHub’s Chief Executive Officer said, “We are pleased to partner Astro for the launch of Astro Go Shop on StarHub TV. As an info-communications company, we see synergy in creating a seamless and immersive shopping experience for our customers, while providing a trusted platform for businesses to reach out to a wider pool of customers beyond their shores. We have every confidence that Astro Go Shop will be a successful venture that appeals to both consumers and businesses.”

    Grace Lee, CEO of Astro GS Shop (AGSS) said, “We are happy to partner with StarHub, a leading consumer brand in Singapore with deep insights into customers’ media consumption and purchasing habits. We look forward to a win-win collaboration with StarHub in scaling the Go Shop customer base regionally and offering Singaporean customers a new experience with the best global products and services from Korean, Singaporean and Malaysian brands.”

    Go Shop offers fun and entertaining 24-hour shopping experience where products and services are demonstrated, promoted and sold on multiple platforms, currently through Astro in Malaysia. Go Shop was launched in Malaysia in January 2015 on TV, online and mobile, and has attracted over 500,000 customers and a total of 75 million online and mobile page views in Malaysia.

    Customers in Singapore can enjoy Go Shop via StarHub’s Mandarin language Channel 110, www.goshop.com.sg, and the Go Shop mobile app, downloadable from Google Play Store for Android users and Apple app store for iOS users in November 2016.

    Go Shop in Singapore is operated by Astro GS Shop Singapore Pte. Ltd, a 100% owned subsidiary of AGSS, which is a joint venture between Astro Retail Ventures Sdn Bhd – a 100% subsidiary of Astro and GS Home Shopping (GS) Inc., the global leader in TV home shopping with international presence in South Korea, Malaysia, China, India, Indonesia, Vietnam, Thailand, Turkey and Russia.

  • ANZ suffers $265m hit over Asia exit

    ANZ suffers $265m hit over Asia exit

    ANZ has taken a major step toward exiting Asian retail banking and wealth management with an agreement to sell businesses in five countries to Singapore’s DBS bank.

    Australia’s fourth-largest lender on Monday said DBS will pay book value plus $110 million for assets in Singapore, Hong Kong, China, Taiwan and Indonesia.

    Chief executive Shayne Elliott, who is undoing much of ANZ’s expansion into Asia under predecessor Mike Smith, said the sale represented the bulk of the bank’s regional retail and wealth management businesses – with remaining assets in Vietnam, Laos, Cambodia and the Philippines under review.

    Mr Elliott said ANZ had not committed to further sales and would not be drawn on a timeline for a possible broader exit.

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  • Pomelo boosts funding to $11m

    Pomelo boosts funding to $11m

    Thai online fashion retailer Pomelo has raised a follow-on round, bringing its total Series A funding to US$11 million.

    This round was again led by Singapore-based Jungle Ventures, with participation from existing investors and new contributors including 500 Tuk Tuks (a fund of major venture capitalist 500 Startups), Andre Hoffmann and Jonathan Price.

    Pomelo says it will use the funds to continue expanding in Southeast Asia. While focussed on Indonesia, Singapore and Thailand, it has customers in more than 40 countries.

    “We strive to provide the absolute best in terms of online fashion through our vertically integrated supply chain,” says Pomelo co-founder/CEO David Jou. “eCommerce is clearly approaching a tipping point in Southeast Asia, and we’re lucky to be one of the leaders in the fast-growing fashion vertical.”

    Additionally, the label continues to strengthen its management depth, having added Meg Mistry as brand president and James Lamrock as regional VP (operations). Mistry was previously regional creative director for online fashion house Zalora, while Lamrock was chief logistics officer at Luxola, which was acquired by beauty products company Sephora. Investment firm TPG senior adviser Jonathan Price has also joined in an advisory capacity. He was previously MD of cosmetics and skincare group The Body Shop Asia and global COO of accessories company Targus.

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  • 37 European F&B companies in Singapore to promote their quality products

    37 European F&B companies in Singapore to promote their quality products

    Romanian angus beef, fresh milk from Poland and organic apples from Italy. Singaporeans, known for their love for good food, may soon find these together with other quality European food and beverage products at a store near them.

    Discussions on ways to make this happen in Singapore will feature prominently from November 5 to 7. That’s when a high-level visit from the European Union (EU) food and beverage sector arrives in the city-state.  The visit is part of a key regional promotion to four South-east Asian cities to explore market opportunities. Apart from Singapore, other stops include: Hanoi, Ho Chi Minh City, and Jakarta. 

    The delegation to Singapore includes 45 top business representatives from 37 EU F&B companies and aims to promote safe, quality and nutritious European food and beverage (F&B) products to buyers and importers in Singapore.  

    F&B companies and associations on this visit are from various EU Member States including Belgium, Bulgaria, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Poland, Portugal, Romania, Spain and the UK.  They will be promoting a wide variety of agricultural and F&B products from fruits and vegetables to fresh meat, poultry, processed foods, dairy products and wine & spirits.

    The delegation will visit several local retail stores  such as NTUC FairPrice, la Petite Boutique, Le Quartier, Giant, Pasarbella, and Sheng Siong to gain insights into Singapore’s F&B industry. 

    To further understand the local market, the delegation will also participate in a business seminar, which focuses on market access, local rules and regulations. In addition, there will be a food tasting session highlighting the sheer diversity and range of European food and beverage products. Delegates, ambassadors, trade or agri counsellors of EU Member States’ in Singapore, local buyers and other stakeholders will also get to interact and network during a lunch session.  

    Another highlight of the high-level mission will be a B2B matchmaking event where EU producers will get to meet Singaporean importers, distributors and retailers to discuss opportunities for future collaboration. 

    Dr Michael Pulch, the EU Ambassador to Singapore calls this “a step forward,” in deepening EU-Singapore cooperation in the booming food and beverage sector. “Singapore serves as an important hub for European food and beverage exports to the broader South-east Asian region.”

    Singapore is already the EU’s 17th largest global trading partner (in terms of goods) and the largest among ASEAN countries.  In 2015, total EU-Singapore trade in goods grew by 7.7% in 2015 reaching 48.6 billion Euro while trade in services grew by 15.4% amounting to 36.1 billion Euro. Singapore is also a major destination for European investments in Asia, as well as Asia’s second largest investor in the EU. In 2014, the EU was ASEAN’s largest investor with 184 billion Euro in FDI stocks held in the region at year-end, with Singapore accounting for 56% of EU FDI.

    Additionally, more than 10,000 EU companies are established in Singapore and use the country as a hub to serve the Pacific Rim.

    ” Our strong performance has enabled the EU to confirm its position as one of Singapore’s most important trade partners and the city-state’s foremost investor,” says Dr Pulch.

  • This is how much the new MacBook Pro will cost in Singapore

    This is how much the new MacBook Pro will cost in Singapore

    The hotly-anticipated Touch Bar Mac machines are here and they are packed with shiny upgrades. Apple has launched two new models that are thinner and lighter than ever – a 13-inch MacBook Pro (14.9mm) and a 15-inch MacBook Pro (15.5mm).

    The key features on the refreshed MacBook Pros include a context-sensitive, customisable Touch Bar that replaces the physical function key strip, giving fast access to popular commands, quick actions and your commonly-used apps and programs

    Touch ID makes its debut on the laptop, allowing you to authorise payments, switch accounts and say goodbye to typing in long passwords.

    Apple has also pumped up the battery life to 10 hours and simplified the machine’s exterior, trimming down various ports on the chassis, relying primarily on four Thunderbolt 3 ports for connectivity and power. But do not worry, the headphone jack is still there.

    The laptops are scheduled to ship in 2-3 weeks and you can order them now at the Apple Store.

    The 13-inch, 2.9GHz dual-core Intel Core i5 MacBook Pro with Touch Bar and Touch ID costs S$2,588, while the 15-inch, 2.7GHz quad-core Intel Core i7 MacBook Pro costs S$3,948. Both machines are available in Space Grey and Silver.

  • Deutsche Bank woes may lead to job cuts in Singapore

    Deutsche Bank woes may lead to job cuts in Singapore

    The problems at Germany’s largest lender, Deutsche Bank, which has seen its share price tumble to record lows on concerns of a looming US$14 billion (S$19 billion) fine by US authorities, could raise questions over the fate of some of its 2,100-strong workforce in Singapore, analysts said on Monday (Oct 3).

    “For the German bank, the impact of negative interest rates and slower growth have affected profitability. As for the impact here in Singapore… we might find a possibility of the bank reducing headcount,” said CIMB Private Banking economist Song Seng Wun.

    “The knock-on impact on Singapore would be pressure on the labour market in the finance sector. The tough labour market within finance may get tougher,” he added.

    Singapore has been Deutsche Bank’s Asia-Pacific head office since 1988, after the lender first established a presence in the city-state in 1971, its corporate website showed. It has a wholesale banking licence here and its business lines including corporate & investment banking, global markets, asset management, and wealth management.

    When asked about possible job cuts at the Singapore office, a spokesperson for Deutsche bank said: “Singapore is and will continue to be a key hub for Deutsche Bank in Asia-Pacific, a region which delivered 14 per cent year-on-year revenue growth last year and remains a core part of our global network.”

    Deutsche Bank shares plummeted to a record low of 9.90 euros last week and were trading at 11.45 euros mid-afternoon in Frankfurt on Monday. The bank has been battling rumours that the German government may have to come up with a rescue plan in case it cannot pay the staggering fine imposed by US regulators for mis-selling mortgage-backed securities before the global financial crisis. The fine is more than twice the provision it had set aside for litigation.

    Deutsche Bank last October unveiled a sweeping plan to restore its finances, including eliminating 9,000 jobs or about 9 per cent of the global workforce, including 4,000 positions in Germany. However, unlike Australia and New Zealand Banking Group, a qualifying full bank which has slashed about 400 jobs in Singapore over the past year, any headcount reduction at Deutsche Bank here won’t likely to be as drastic, analysts said.

    “Deutsche Bank’s business in Singapore has… little retail exposure; it does more private and investment banking. The bank is still geographically strong in Singapore. It is a significant player here and would be more distant from the issues faced at the German headquarters,” said KGI Securities (Singapore) trading strategist Nicholas Teo.

    UOB economist Francis Tan said: “There will be some impact, maybe small cuts but not likely to be big for the bank. Asia is still rising, so even if there are cuts it would be more on the European side. Looking at the relative growth rates this area has compared to the Western world, it would not be a good move to cut a lot of jobs. You don’t want to kill the golden goose.”

    Global banks have been slashing headcount in the Republic against the backdrop of weak economic outlook and stricter capital rules. Besides ANZ, banks such as Barclays and Standard Chartered have let go some of their employees in Singapore over the past year.

    The crisis faced by Deutsche Bank is unlikely to be a ‘Lehman moment’, experts said, referring to the collapse of the storied US investment bank Lehman Brothers eight years ago that played a major role in the global financial crisis.

    “A lot of people who are looking at a bank like Deutsche, and easily they are comparing this to Lehman but it is not the same. If you look at the liquidity conditions of banks now, it is very different from 2008-09,” said Mr Tan.

    “Balance sheets are not as weak as eight years ago and banks are not as vulnerable as they were,” Mr Song said.

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  • Lazada in talks to buy Redmart for rumored $30m to $40m

    Lazada in talks to buy Redmart for rumored $30m to $40m

    Southeast Asia ecommerce portal Lazada is reportedly in talks to buy online grocery provider Redmart. The acquisition amount is said to be around US$30 million to US$40 million, which if true, is in the low range given it raised US$26.7 million last year.

    Redmart had apparently held unsuccessful talks with supermarket chain NTUC and Singapore sovereign wealth fund GIC. It also received a “lowball” offer from Amazon.

    The startup had been in trouble for some time. While its revenue grew, its expenses increased at an even faster clip.

    Lazada is controlled by Chinese online shopping Alibaba, which in April took a commanding stake in the Rocket Internet-born startup for US$1 billion.

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  • H:Connect brings Korean style to Singapore

    H:Connect brings Korean style to Singapore

    Contemporary South Korean fashion brand H:Connect, fronted by Korean celebrity Yoona of Girls’ Generation, has officially opened its first Southeast Asian store at Bugis Junction in Singapore.

    The brand plans to make the most of the rising appeal of hallyu, or the Korean Wave, across Southeast Asia, which is driving Korean exports of fashion, entertainment and cosmetics in particular.

    It joins more than 300 H:Connect stores across South Korea, China and Taiwan, including a flagship store in the Gangnam district of Seoul.

    In its new Singapore store, the 10-year-old brand features it latest collection for men and women, separated into three themes: City Dweller (understated designs), Nostalgic Insta (combining vintage denim with floral prints and embellishments) and Athleisure (statement sweaters, pullovers and denim with a Korean street-style vibe).

    Prices range from S$19 (US$13.64) for basic tops to $129 for jackets and overcoats.