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Tag: Singapore

  • Singapore’s ViewQwest expands to Malaysia

    Singapore’s ViewQwest expands to Malaysia

    Singapore ISP ViewQwest has expanded into the Malaysian market, entering a high-speed fiber broadband joint venture with Malaysian telecoms engineering services company Televenture.

    ViewQwest has launched fiber and managed services for enterprises within Kuala Lumpur’s Golden Triangle commercial hub, Bangsar South and Cyberjaya.

    The joint venture will also offer ViewQwest’s suite of enterprise networking and managed services, including the Direct Cloud Connect Service to allow Malaysian enterprises to access cloud services including AWS, Microsoft Azure and Google Cloud which are regionally hosted in Singapore.

    By the end of the year the company plans to launch a 1Gbps fiber service for residences in the same locations, which ViewQwest expects will be the fastest residential broadband service in the nation.

    The company will also offer value-added services including Freedom DNS, which is designed to allow customers to access geoblocked media content such as Amazon Prime, Hulu and BBC iPlayer.

    “We hope to enable businesses in Malaysia to adopt more cloud services by bringing down the cost of bandwidth and to empower consumers to enjoy gigabit-speed internet from their homes. There is also a huge market to tap for businesses who want to have improved connectivity between the two closely-linked nations,” ViewQwest CEO Vignesa Moorthy commented.

    “[Singapore’s] NG-NBN lets any ISP deliver services to 1.4 million homes without the debilitating cost of building its own fibre network infrastructure. Now we have the confidence to export our expertise and experiences from running a nationwide ISP service with uber high speeds of up to 10Gbps to other parts of the world.”

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  • Axiata may lift stake in Singapore’s M1

    Axiata may lift stake in Singapore’s M1

    Malaysia’s Axiata Group is considering increasing its stake in Singapore’s M1 as a strategic investment.

    Axiata CEO Tan Sri Jamaludin Ibrahim told that the company would “seriously consider” lifting its stake in M1 “if the price is right”.

    Axiata is already M1’s largest shareholder with a 28.5% stake. M1’s second largest shareholder Keppel Corp’s parent company Temasek Holdings is meanwhile reportedly considering selling Keppel’s stake in the operator.

    But the prospect of heightened competition in Singapore’s mobile market arising from the award of the nation’s planned fourth mobile license may limit the attraction of a potential deal.

    Jamaludin told that the company is not pursuing any major mergers and acquisitions, noting that even if the group wanted to expand into another country, the opportunity is not there.

  • M1 adds three managed security partners

    M1 adds three managed security partners

    Singapore’s M1 has added three cybersecurity vendors to its list of managed security partners, as part of efforts to enhance its suite of cloud-based cybersecurity offerings.

    The three vendors are Red Sentry, Palo Alto Networks and Proficio, who join Trend Micro, Blackberry and Radware as partners in M1’s cybersecurity solutions suite.

    Red Sentry will provide cyber security consultancy services including vulnerability assessment and penetration testing while Palo Alto Networks will offer its next-generation firewall.

    Proficio will provide a 24/7 network monitoring service, courtesy of its recently opened security operations centre (SOC) in Singapore. The cloud-based services are hosted out of M1’s data center in Singapore.

    The offerings are available to M1’s business fiber broadband customers, with SMEs expected to benefit most from the cybersecurity suite’s pay-as-you-use model.

    According to M1’s chief corporate sales and solutions officer Willis Sim, customers who sign up for services in the cybersecurity solutions suite need only deal with a single M1 client servicing representative, regardless of the number of services subscribed to.

    To encourage uptake, M1 is offering promotional packages for early adopters. Registered businesses who either recontract or sign up for 24-month business fiber broadband contracts will be offered free VSA and three months subscription to Palo Alto’s virtualized next-generation firewall.

    A free 12-month subscription to Proficio’s SOC service will also be offered to customers on 24-month contacts.

    Customers will be able to opt out of any managed security service at any time without incurring financial penalties.

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  • More protection to be offered to wealthy Singapore investors

    More protection to be offered to wealthy Singapore investors

    Wealthy investors in Singapore may soon be able to choose to be covered by the same protections as retail investors under proposals from the Monetary Authority of Singapore (Mas).

    First announced by the regulator in September 2015, Mas intends to table amendments to the legislation in Parliament by the fourth quarter of 2016, reports Bloomberg. If passed, the changes would come into force in 2017.

    Current framework

    Under Singapore’s current law, it is assumed that wealthy (accredited) investors are better informed and have greater means to protect their own interests. Therefore, banks are exempt from having to provide as much information about financial products as they would to retail investors.

    Accredited investors

    Currently, an individual with personal assets exceeding S$2m (£1.1m, $1.5m, €1.3m) or an annual income of at least S$300,000 is classified as an accredited investor. The ‘opt-in’ regime proposed by Mas would require those meeting accredited investor status to make a conscious decision to be treated as such, with the full knowledge of the lower level of regulatory protection afforded to accredited investors.

    Investors opting to be treated as accredited investors would sacrifice the benefits of stronger regulatory safeguards to have easier access to a wider range of complex and risky products.

  • Cover up, stay in: Singaporeans wary as Zika spreads

    Cover up, stay in: Singaporeans wary as Zika spreads

    Many of Singapore’s five million people are covering up and staying indoors to avoid mosquito bites as health experts warned that the outbreak of the Zika virus in the tropical city-state would be difficult to contain.

    One of the world’s leading financial hubs, Singapore is the only Asian country with active transmission of the mosquito-borne virus, which generally causes mild symptoms but can lead to serious birth defects in pregnant women.

    Authorities say they have found over 150 cases since the first locally contracted infection was reported a week ago, and with the virus spreading beyond the cluster where it was initially detected, more people are taking precautions.

    “I’m not going to let her go outside much until Zika dies down,” said Nat Bumatay, a self-employed mother, of her six-year-old daughter Sunshine. “Usually during short holidays, we go outside to the parks, go cycling, but now I will refrain.”

    A warm, tropical climate, forested areas and a network of public parks make outdoor activities popular across Singapore, especially during school holidays like the ten-day break that began on Friday.

    Authorities have stepped up spraying insecticide and clearing stagnant water to prevent mosquito breeding, but many people said they were also avoiding the city’s popular outdoor food centres and dousing themselves in repellent to avoid getting bitten.

    “Prevention is better than cure,” said Tomas Quong, a Filipino who has been working in Singapore for five years. “That’s why I am wearing long sleeves.”

    Some fans of Nintendo’s Pokemon Go mobile game are also becoming more cautious and crowds at outdoor Pokemon hotspots around the city are likely to be thinner. “I am still okay with outdoors, just not damp and dirty parks,” said Nelson Ho, a 19-year-old gamer.

    Pharmacies and supermarkets have reported a surge in mosquito repellents over the past week, with some running out of stock. Online retailers Lazada and Qoo10.sg have set up a Zika shop, while other enterprising Singaporeans trying to cash in are advertising mosquito net tents and “anti-bite” jewellery.

    SLOWING ECONOMY

    The outbreak coincides with a slowdown in trade-dependent Singapore. Worries about Zika could further crimp overall retail sales, United Overseas Bank economist Francis Tan said. “If it continues, people will generally not want to go out, so all the retail sectors will be slowing down,” Tan said.

    Zika could also increase concerns about tourism, a mainstay of the economy, especially with the city-state’s key annual attraction – the floodlit Formula One Grand Prix race – due to start in two weeks. Several countries, including the United States and Australia, have advised pregnant women or those trying to conceive not to visit.

    “It will certainly create a bit of caution in the minds of tourists and they may think about it twice,” said Jonathan Galaviz, partner at consultants Global Market Advisors. “But I don’t see Zika standing in the way of a successful F1 event or tourism flows in the short term.”

    Tourism arrivals topped 8 million in the first half of this year, around 1 million more than a year ago.

    The Tourism Board has said it is premature to consider any impact on the industry, with at least two international chain hotels contacted by Reuters reporting business as usual. The promoters of the Grand Prix have also said planning for the event is going ahead “as per normal”.

    Several of those initially infected by the virus were foreigners, many believed to be among the thousands of migrant workers in Singapore’s construction industry.

    The latest tally includes two pregnant women, and officials and experts say the number of cases is likely to increase as the virus is likely to spread.

    “The virus is extending beyond the square that was drawn out,” said Leong Hoe Nam, an infectious disease specialist at Mount Elizabeth Novena hospital in Singapore. “We have re-draw the battle lines. We have to first admit defeat to Zika and accept that the whole country is at risk.”

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  • The Great Singapore Sale 2016 Registers 15% Growth in Spend

    The Great Singapore Sale 2016 Registers 15% Growth in Spend

    UnionPay, the Official Card for The Great Singapore Sale (GSS) 2016, has revealed that total spend in Singapore by UnionPay Cardholders grew 15 percent during the 10-week-long event held from 3 June to 14 August 2016. The increase was contributed by the surge in UnionPay card usage by both locals and tourists during the GSS 2016 period, and boosted by the rise in card issuance in Singapore, and around the world.

    Locally, UnionPay registered significant growth in spend among locally-issued cards. Total spend by locally-issued UnionPay cards and transaction count doubled over the same period last year. The growth in spend can be attributed to the rise in acceptance of UnionPay cards by merchants in Singapore, which has improved from over 70 percent merchant coverage last year, to over 80 percent now.

    On the overseas Cardholders’ front, tourists from China, Hong Kong, Macau, Korea and Indonesia contributed to the bulk of the growth, signifying that UnionPay’s expansion across key markets in Asia has helped to boost tourist spending in Singapore during GSS 2016. Comparing performance across retail categories, the Supermarket and F&B categories registered the largest percentage growth.

    “We are delighted to see positive spending momentum among our local and overseas UnionPay Cardholders during GSS 2016. This growth marks the continued appeal of Singapore as a choice shopping destination for locals and visitors, and puts us on the right track to continue the growth momentum in our partnership with the Singapore Retailers Association for GSS. We are committed to further improving our acceptance coverage in Singapore to better serve our Cardholders here,” said Mr. Wenhui Yang, General Manager of UnionPay International Southeast Asia.

    “Singapore Retailers Association is glad that our new partnership with UnionPay International has generated increased spending among its overseas and local cardholders at the Great Singapore Sale 2016. The numbers are indeed encouraging, and show that the collective efforts of SRA, UnionPay and the industry to give UnionPay Cardholders more reasons to spend during the GSS have brought new growth opportunities to participating retailers. Looking ahead to the GSS 2017, we look forward to working with UnionPay and the industry to continue to grow the appeal of the GSS to both tourist and local consumers,” said Mr. Anthony Gan, Executive Director, Singapore Retailers Association. 

    UnionPay International focuses on supporting the growth of UnionPay’s global payments business. With an acceptance footprint covering 160 countries and regions globally, UnionPay serves the world’s largest cardholder base by providing quality, cost-effective and secure payment services to over 5.4 billion Cardholders worldwide.

    In Singapore, UnionPay enables efficient and cost-effective payment services that are tailored to the needs of local businesses and consumers. UnionPay cards are issued by Bank of China (BOC), DBS Bank (DBS), Industrial and Commercial Bank of China (ICBC) and United Overseas Bank (UOB) in Singapore, and are accepted at over 80 percent of retail, lifestyle and food and beverage establishments locally, as well as at almost all automated teller machines (ATMs) across the island. In May 2016, UnionPay announced its partnership with Singapore Retailers Association announced as the new Official Card for the Great Singapore Sale from 2016 to 2018.

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  • Ksubaka’s media network surpasses 5,000 playSpots installed across China

    Ksubaka’s media network surpasses 5,000 playSpots installed across China

    Ksubaka today announced that it has broken through the 5,000 barrier of installed playSpots across China. Ksubaka has the fastest growing direct-to-consumer media network in China with over 10 million shoppers engaging with the network each month. Importantly for brands, each shopper is engaged with a bespoke interactive experience for over one minute.

    Ksubaka’s media network addresses the issue of how to connect with consumers at the physical point of purchase – in-store. Interactive kiosks called ‘playSpots’ provide fun mini games that take the consumer on a branded game journey. Key brand messages and information are played out through game play with rewards and offers redeemable once the session has been completed. A typical fun game session lasts for one minute – Ksubaka calls this a ‘Moment of Joy’ (MoJo). Games are provisioned to the network over-the-air.

    To support Ksubaka’s rapidly growing network of playSpots is a sophisticated real-time analytics platform providing campaign owners with deep data-driven insight into activity results. Campaigns can be tweaked and optimised in a matter of minutes across the entire network, providing full control and a level of understanding, right at the point of purchase. Ksubaka’s network provides an opportunity for brands which was never previously available. The likes of Coca-Cola, Colgate, Head & Shoulders, Kellogg’s and many others are already taking this opportunity to better engage in-store with consumers.

    “Our rapid roll out across Asia and unique ability to connect with consumers at the moment when they are in ‘purchase mode’ gives us one of the most powerful new media networks available to brands and retail,” said Julian Corbett, CEO and Co-Founder, Ksubaka. “Brands get access to incredible engagement stats, which are both reliable and meaningful, and significantly a demonstrable uplift in sales. The feedback we get from retailers is that shoppers play and afterwards they have a smile on their face. We are creating Moments of Joy for shoppers and brands alike.”

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  • Indonesia leading charge, says Asia Luxury Index

    Indonesia leading charge, says Asia Luxury Index

    Indonesians have become Asia’s foremost online buyers of luxury goods, according to the latest Asia Luxury Index.

    Amid difficult economic conditions, online sales of luxury goods in Indonesia have grown by 84 per cent, according to the index, which draws mainly on the sales data of Reebonz, a Singapore-based eCommerce platform for luxury products.

    Reebonz Indonesia executive manager Anggono Wijaya says social media, digital marketing and collaborations with influencers and young designers were among the main reasons behind the ballooning sales.

    Senior marketing manager Bernard Widjaja Ng says the group of luxury consumers is evolving and expanding as luxury is no longer just for the select few. “With growing affluence and accessibility, more consumers can readily buy luxury goods.”

    He says consumers have also become younger, with 21-year-olds starting to buy luxury goods. “There is a shift in an economical class of buyers, as people from the B-level economy have started to buy luxury goods.”

    Accounting for 62 per cent of online transactions in Asia are bags, with Balenciaga, Fendi and Longchamp topping the brand list in Indonesia. The report also notes an 87 per cent rise in shoe sales and a 39 per cent increase in timepiece sales.

    It also notes a shift in buying trends, with a 30 per cent increase in pre-owned luxury goods sales.

    Topping the brand list in this category are bags and shoes by Chanel, Hermes, Louis Vuitton and Prada.

    Starting as a luxury product retailer in Singapore, Reebonz has expanded via eCommerce platforms with offices in Indonesia, Australia, Hong Kong, Malaysia, South Korea, Thailand and Taiwan.

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  • Report predicts $25b in eCommerce revenues

    Report predicts $25b in eCommerce revenues

    Southeast Asia eCommerce revenues are projected to exceed US$25 billion by 2020, according to new research by growth partnership company Frost & Sullivan.

    Despite acquisitions, market exits and many online retailers struggling to achieve profitability, the market earned $11 billion last year, says the report, from its Telecommunications and Digital Services program, Analysis of the Southeast Asian E-commerce Market. The study examines market trends and opportunities in six key Southeast Asian markets – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

    Key findings include continuing rapid growth as the industry evolves.

    Total revenues from business-to-consumer (B2C) eCommerce in the six markets will increase at a compound annual growth rate of 17.7 per cent.

    Malaysia and Thailand were the largest eCommerce markets in the region last year, generating revenues of $2.3 billion and $2.1 billion respectively. But by 2020, both these markets are expected to be eclipsed by such emerging economies as Indonesia and Vietnam.

    “Despite being relatively young, the eCommerce market in Southeast Asia is developing quickly, thanks to an astounding rate of digital adoption,” says Frost & Sullivan Asia-Pacific lead consultant for eCommerce and digital transformation, Cris Duy Tran.

    “However, companies pursuing an Amazon-style B2C mass-market business model are struggling to turn a profit, and there have been several mergers and acquisitions and market exits,” he says.

    “With fewer players in the market, eCommerce players are beginning to compete beyond price points and logistics, and are moving into new areas such as Online-to-Offline (O2O) eCommerce and loyalty programs.”

    Although the mass-marketing approach has not worked so far in Southeast Asia, he says there are many exciting opportunities in specialized eCommerce and peer-to-peer (P2P) eCommerce. Services such as Carousell, Shopee and Tokopedia are aggressively pursuing a “mobile first” strategy, and Frost & Sullivan expects to see more sector-specific services in areas such as travel, food delivery and luxury goods.

    Challenges

    While the opportunities for growth are immense, says the report, the eCommerce market in Southeast Asia is not without challenges.

    Several key factors that inhibit growth have been identified, including low credit-card ownership – less than 7 per cent of the population in all Southeast Asian markets except for Malaysia and Singapore. In some countries, more than half of the population does not have a bank account, making payment the biggest challenge for eCommerce companies.

    Logistics is another issue hampering eCommerce growth, especially in areas with complex geographies such as Indonesia and the Philippines. However, recent investments by regional logistics players such as aCommerce and SingPost have strengthened eCommerce logistics infrastructure in these markets.

    China’s rapid expansion in eCommerce is providing further impetus for online retail growth in Southeast Asia, says the report.

    “The eCommerce revenue in China represented 12.1 per cent of all retail sales last year, surpassing the US, Europe and Japan,” says Tran. “Given the massive adoption of eCommerce in China, Southeast Asia is set to follow a similar upward trajectory, even though eCommerce now represents less than 2.5 per cent of all retail sales.”

    With more mergers and acquisitions likely during the forecast period, more exciting market developments can be expected in the near future, says Tran.

  • Three apply for Singapore’s fourth cellco auction

    Three apply for Singapore’s fourth cellco auction

    Singapore’s MyRepublic has been joined by Australian ISP TPG Telecom and the recently-formed airYotta in submitting bids to become Singapore’s fourth mobile operator.

    The three companies have submitted expressions of interest in participating in an upcoming new entrant spectrum auction.

    MyRepublic has been clear in its intentions of bidding for the license for some time, but TPG Telecom is a surprise entrant.

    The new airYotta meanwhile has been formed by former executives from Consistel subsidiary OMGTel, which had previously expressed an interest in taking part in the auction but had not done so by the deadline.

    In a statement airYotta said it is backed by a fund fully financed by an investor dedicated to wireless ventures, and plans to deploy Singapore’s first LTE-A Pro network if its bid is successful.

    MyRepublic meanwhile aims to deploy a “pre-5G” network using HetNet technologies such as small cells, to help improve speeds, connectivity and latency.

    In a stock market filing, TPG confirmed it has applied to take part in the auction.

    “If TPG successfully prequalifies it will be able to bid for 2 lots of 2×5 MHz of 900-MHz spectrum and 8 lots of 5MHz of 2.3-GHz spectrum,” the company said.

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  • Asian online shoppers habits uncovered

    Asian online shoppers habits uncovered

    Asian online shoppers research, locate, engage with and purchase products and services in entirely different ways in different markets, according to a new report.

    For example, almost all consumers in Indonesia knowingly provide brands with wrong details, including name (93 per cent), phone number (94 per cent), and email address (95 per cent) when researching or shopping online

    And the biggest driver of online-to-offline (O2O) conversions is with email in Singapore; SMS in Indonesia; chat apps in China; social media in Malaysia and Thailand and video ads in Hong Kong.

    And 27 per cent of consumers in China and 10 per cent of consumers in Singapore unknowingly input wrong payment details, breaking the region’s eCommerce’s momentum.

    Those are among many takes from The Digital Consumer View 2016 (Asia) report, released by global information services specialist Experian today, containing research from International Data Corporation (IDC), aimed at helping businesses better understand digital consumers in Asia.

    The report reveals how consumer behaviour varies across the key Asian markets of Singapore, Malaysia, Indonesia, Thailand, Hong Kong, and China, based on surveys with over 1200 digital consumers.

    Differences exist across channels (SMS, app notifications, email, social media, chat apps), devices (smartphone, feature phone, Wi-Fi/cellular tablet, wearable) and content (ads in email, ads in mobile apps, ads in social media, video ads on websites, and search ads). The findings highlight the complexity of reaching digital consumers in Asia across many channels, but also highlight how crucial that is, says Jeff Price, MD of Southeast Asia at Experian.

    “While the region is fast-growing, consumer behaviour in each market has unique disparities. Businesses today cannot succeed without intelligent insights based on consumer data,” he advises.

    “Asia is in the midst of a great digital revolution, with an explosion of smart devices, social media interactions and eCommerce transactions. While this evolution has greatly enabled and empowered both sides, it has also challenged businesses to be more effective and targeted in the way they communicate and market to this modern, digital-savvy consumer.

    “For companies to keep up with digital consumer behaviours – how they act on information – it’s absolutely vital to adopt and leverage what their consumers are providing them with every day – invaluable data. Businesses slow to act on this data will see their competitive advantage erode.”

    Key findings

    Experian - DCV - Region - Key findings

    • Search and discovery: Social media is the top channel in Singapore (31 per cent), Malaysia (49 per cent), Indonesia (67 per cent) and Thailand (58 per cent). It’s equally important as chat apps in China (47 per cent); in Hong Kong, video ads (63 per cent) trumps all.
    • Triggering product interest: Social media, once again, is the key driver in Singapore (28 per cent), Malaysia (44 per cent), Thailand (49 per cent) and Hong Kong (25 per cent). However, in Indonesia it’s SMS (62 per cent), and in China it is chat apps (48 per cent).
    • Triggering purchase intent: Email is the biggest driver of online to offline conversion in Singapore (27 per cent); SMS tops in Indonesia (57 per cent); chat apps in China (45 per cent); social media in Malaysia (44 per cent) and Thailand (51 per cent); and video ads tie with social media in Hong Kong (23 per cent).
    • Finding good deals: For unplanned purchases stemming from promotions, email leads in Singapore (34 per cent); social media in Malaysia (50 per cent), Indonesia (68 per cent) and Thailand (58 per cent); SMS in Hong Kong (36 per cent), and social media in China (51 per cent).
    • Brand engagement: Email is key for marketers to build engagement in Singapore (58 per cent) and Thailand (60 per cent); chat apps in Malaysia (62 per cent) and China (70 per cent); banner ads in Indonesia (56 per cent), and SMS in Hong Kong (61 per cent). While email is important, marketers need to be wary: more than 70 per cent of consumers reported receiving too many emails, up from 52 per cent in 2015.

    Experian - DCV - Region - The rise of omni-channel engagement 1

    Shiv Putcha, associate director, consumer mobility and telco strategy with IDC Asia Pacific, says businesses and brands cannot afford to ignore Asia’s multi-trillion-dollar digital commerce market. China alone is now the world’s largest retail market.

    “The challenge lies in the fact that the region has extraordinary differences – language, economy, purchasing power – and consumer behaviours, especially with the digital generation. That uniqueness will not diminish over the next few years and may even increase, making it challenging for marketers not using data-driven insights to research, plan and execute effectively. The Digital Consumer View 2016 (Asia) will hopefully serve as a valuable guide to deciphering some of these key trends, mapping the path forward for brands and their connected consumers.”

    Experian - DCV - Region - Top 3 types of ads that influence consumer's buying behavior

    Key Learnings for marketers in Asia

    • Over-reliance on a single marketing channel will not work. Depending on the country and its current state of digital sophistication, marketers need to think carefully about the right mix of channels to employ.
    • Quality over quantity. Consumer preferences for receiving promotional material varies from market to market, and by specific use cases. On a broader level, more is not necessarily better. A relevant and targeted message will ensure better conversion. Too much, and consumers are inclined to unsubscribe, delete, or mark content as spam.
    • The quality and integrity of data is crucial for marketers to find success. A significant number of consumers across the region either knowingly or unknowingly provide inaccurate information, which in turn causes errors and inaccuracies in marketer’s data sets. Around 27 per cent of consumers in China but only 10 per cent in Singapore unknowingly input wrong payment details; 40 per cent of consumers in China, and over 20 per cent of consumers in the rest of the region provide a wrong address at online checkout.

    Asia comprises 49.6 percent of the world’s Internet users, according to Internet World Stats (2016), digital commerce in the Asia-Pacific (excluding Japan) region will rise to US$17 trillion by 2019, up from US$7 trillion in 2015 according to International Data Corporation (IDC). The combination of rising incomes, increased consumption, acceleration of internet use, and the proliferation of mobile broadband access continues to unlock tremendous opportunities for marketers across the continent.

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  • HSBC appoints new wealth chief in Singapore

    HSBC appoints new wealth chief in Singapore

    Anurag Mathur will become HSBC’s new head of retail banking and wealth management in Singapore as of mid-September.

    He will replace Matthew Colebrook, who is taking charge of the bank’s equivalent business in the Middle East.

    HSBC

    Mathur has most recently worked as head of international markets for HSBC’s retail banking and wealth management arm in Asia.

    This has seen him oversee Bangladesh, Brunei, Macau, Mauritius, New Zealand, Philippines, Sri Lanka and Vietnam.

    Mathur has most recently worked as head of international markets for HSBC’s retail banking and wealth management arm in Asia.

    This has seen him oversee Bangladesh, Brunei, Macau, Mauritius, New Zealand, Philippines, Sri Lanka and Vietnam.

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  • ALODD by Aldo Lipari Steps Out in Singapore

    ALODD by Aldo Lipari Steps Out in Singapore

    ALODD by Aldo Lipari is a new Singapore-based label to step out into the retail scene in Singapore.

    The footwear brand is founded by Aldo Lipari, who brings his wealth of experience as the former  CEO of Bally Southeast Asia / Oceania, drawing on his know-how on the market and what consumers want, in setting up his own venture.

    A resident of Singapore for the past six years, Lipari first relocated to the city-state to run Bally’s operations in the region, serving as the Swiss luxury brand’s CEO of Southeast Asia and Oceania from 2009 to 2014

    I’m very much at home in the Asia Pacific / Southeast Asia region and have a strong understanding of what the customer here wants, what the climate and lifestyle require. But I’m also Italian, with an immense appreciation for quality and craftsmanship,” explains Aldo.

    The flagship store for ALODD by Aldo Lipari opens in the newly-opened annex of The Centrepoint on Orchard Road, and sits opposite the popular Ministry of Food and soon-to-be opened, Din Tai Fung.

    Our beautifully designed shoes are handmade in Italy to the absolute highest standards,”

    “By eliminating many of the unnecessary overheads that major brands are subject to, we’re able to deliver a product that presents far greater value than what you’d find on the shelves at most ‘luxury’ boutiques.”

    ALODD’s footwear is exquisitely crafted by Italian artisans, utilising time honoured, traditional shoemaking techniques.

    The ALODD range is priced from $397 to $496, and staples for the working man include classic loafers, lace-ups and slip-ons, to a Derby, Oxford and Double Monkstrap.

    For the weekend, driver moccasins, suede loafer and the woven loafer make excellent choices.

    Lastly the label’s unique Comfort Line which is a hybrid of sneaker meets Italian footwear, features the California construction.

    Although its name suggests American origins, the ‘California’ technique of shoe construction actually originated in Italy.

    As is the case with all of ALODD’s footwear, Comfort Line shoemaking is carried out entirely in Italy, by skilled Italian craftsmen.

    ALODD by Aldo Lipari The Centrepoint
    #02-50 The Centrepoint, 176 Orchard Road
    Singapore  238843

    ALODD by Aldo Lipari Takashimaya
    391 Orchard Road, Takashimaya Shopping Center Level 3
    Singapore 2238873

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  • CapitaLand Mall Asia inks its first third-party management contract in China

    CapitaLand Mall Asia inks its first third-party management contract in China

    CapitaLand Mall Asia Ltd, CapitaLand’s wholly owned shopping mall business, has signed its first third-party management contract to manage the retail component of a mall in China.

    The contract with Changsha Pilot Investment Holdings Group Co is for Fortune Finance Center, an integrated development in Changsha, the provincial capital of Hunan in central China, CapitaLand announced on Wednesday (Aug 31).

    It said the deal marks the beginning of an enhanced asset-light strategy to enlarge its mall network through third-party management contracts to complement its core strategy of developing, owning and managing malls.

    The scope of the contract covers asset planning, pre-opening and retail management for a total gross floor area, excluding car park, of 95,000 square metres (about 1 millio square feet) that spans seven levels – five levels above ground and two basement levels.

    Currently under construction, the mall is targeted to commence operations in end 2018. It is owned by Changsha Pilot Investment Holdings, a Chinese state-owned developer which currently has seven projects in Changsha.

    Said Mr Jason Leow, CEO of CapitaLand Mall Asia: “We continue to be on the lookout for suitable acquisition opportunities to grow our mall portfolio even as we seek to enlarge our network through third-party management contracts. By managing quality third-party malls for which we have a right of first refusal to acquire, we are also paving the way for future acquisitions.

    “Through this multi-pronged approach, we will be able to maximise opportunities to expand our mall and retailer network, increase recurring income and further strengthen our leadership in the shopping mall sector in the region.”

    With this contract, CapitaLand doubles its presence in Changsha, where it currently owns and manages CapitaMall Yuhuating, a 62,000 sqm mall, approximately 10 km) from Fortune Finance Center.

    It is also expanding its presence in China, where it has a network of 65 malls. Across Asia, CapitaLand now manages a total of 104 malls in Singapore, China, Malaysia, Japan and India.

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  • Alibaba Cloud, IIPL to support Singapore startups

    Alibaba Cloud, IIPL to support Singapore startups

    Alibaba Cloud and Infocomm Investments (IIPL) have announced plans to collaborate to drive technology innovations in Singapore, built upon Alibaba Cloud’s support network and suite of cloud infrastructure services.

    The announcement was made at the Create@Alibaba Cloud Start-up Contest (CACSC).

    The collaboration will combine Infocomm Investments’ existing initiatives for local startups and technology innovations and Alibaba Cloud’s cloud computing resources.

    It will focus on extending sophisticated networking solutions and big data intelligence to a broader base of Singaporean start-ups under Alibaba Cloud’s first global startup program, Create@Alibaba Cloud.

    Alibaba Cloud will also pave way for start-ups in Singapore to leverage Alibaba Cloud’s ecosystem and to gain access to the China market as well as multiple business network resources and funding opportunities.

    In addition, the collaboration will foster innovative exchanges between Singapore and China’s startup ecosystems by inviting accelerators, incubators, and start-ups in Singapore to participate in startup activities in China and vice versa.

    This marks the start of a long term collaboration between both ecosystems to drive innovation, the companies said.

    “We are very proud to work with Infocomm Investments to build a more robust start-up ecosystem in Singapore,” said Sicheng Yu, vice president of Alibaba Group and general manager of Alibaba Cloud Global.

    “This underscores our on-going commitment to drive technology innovation in Singapore, as well as to support local start-ups in their business growth through our cloud capabilities and extensive support network in both local and global markets.”

    The Create@Alibaba Cloud Start-up Contest (CACSC), organized in partnership with Infocomm Investments, is Alibaba Cloud’s first ever global start-up competition, which is aimed at championing start-ups and maximizing their potential.

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