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Tag: Singapore

  • 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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  • More stores in Asia for Guzman y Gomez

    More stores in Asia for Guzman y Gomez

    Australia’s Mexican food chain Guzman y Gomez (GYG) has done so well in Japan and Singapore it is planning to open more outlets in both countries this year.

    It opened its first taqueria in Singapore in 2014, since adding three more, plus a second in Tokyo. It plans to open at least five more in Japan this year, plus two in Singapore.

    Guzman y Gomez Japan 1

    “We have outstanding partners in both Japan and Singapore who are incredibly experienced in introducing Australian brands into their local markets,” says CEO Mark Hawthorne. “They are executing the brand to a very high standard.”

    GYG opened its first restaurant in Sydney in 2006, and now has 73 outlets across Australia. It was named Australia’s fastest-growing fast-food brand in the latest Consumer Report on Eating Share Trends.

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  • A Battle of 2 of Singapore’s Largest Real Estate Investment Trusts

    A Battle of 2 of Singapore’s Largest Real Estate Investment Trusts

    Singapore’s stock market is gaining popularity as a centre for real estate investment trusts.

    The first REIT here appeared some time back in 2002. But even in recent years, Singapore has seen the listing of some huge billion-dollar REITs such as Frasers Logistics and Industrial Trust.

    In this piece, I want to take a look at two of the largest REITs listed here in Singapore and compare them. Meet the contenders, CapitaLand Mall Trust and Ascendas Real Estate Investment Trust.

    Asset class

    The most obvious difference between the two REITs is their area of focus. CapitaLand Mall Trust, as its name suggests, focuses on retail properties (it dabbles a little in some commercial assets as well).

    Ascendas REIT on the other hand, deals with industrial properties such as business & science parks, factories, data centres and more.

    Going international

    Another area of divergence between the two is their geographical focus.

    Ascendas REIT has invested in overseas properties over the years and now has assets in China and Australia. It seems the trust would continue to pursue international investments going forward. Today, Australia and China contribute roughly 11% and 2%, respectively, to the REIT’s overall portfolio value. The rest comes from Singapore.

    CapitaLand Mall Trust, on the other hand, only owns properties in Singapore. That said, it also has a 14.55% stake in CapitaLand Retail China Trust, which invests in retail properties in the Greater China region.

    Both CapitaLand Mall Trust and CapitaLand Retail China Trust are sponsored by the local real estate giant CapitaLand Limited.

    CapitaLand has stakes in other REITs and even private property funds that invest outside Singapore. This means that CapitaLand Mall Trust would most likely not invest directly in international markets since its sponsor would be heading any overseas venture.

    A long history

    Now, CapitaLand Mall Trust and Ascendas REIT do have things in common.

    They mostly have assets located in Singapore; they have market capitalisations of around S$7.0 billion each; and they both were listed in 2002 and so have long histories of growth as a listed REIT.

    Since their IPOs, CapitaLand Mall Trust and Ascendas REIT have generated total returns (where gains from reinvested dividends are factored in) of more than 420% and 554%, respectively.

    Summary

    Both Ascendas REIT and CapitaLand Mall Trust have proven themselves in the market by providing strong returns for their unitholders. But, the two trusts have significant differences related to their asset classes and growth strategies. This thus results in different risk profiles and that’s something investors would have to keep in mind.

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  • Singapore students win FedEx challenge

    Singapore students win FedEx challenge

    A team of student entrepreneurs from Singapore have been crowned winners of the FedEx Express/Junior Achievement International Trade Challenge (FedEx/JA ITC) Asia Pacific Finals in Hong Kong.

    Challenged to come up with an idea for a travel security product or service for the U.K., team Kung Fu Pandas – made up of Colin Chee and Tan Jie Ying – impressed the judges with their product “RobStop”, a convertible bag with slash-proof body panels made of stainless steel mesh that can help to thwart pickpockets and protect all important personal belongings while travelling.

    In total, 48 students from eight Asia-Pacific markets (Hong Kong, Japan, Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam) took part in this year’s contest.

    “We came up with an idea that we thought would work and that we believed in, but some of the other team’s proposals were really outstanding, so we didn’t expect to be the winners,” said Colin Chee and Tan Jie Ying of Kung Fu Pandas.

    “Taking part in the contest has been a really eye-opening experience, and it’s made us realize that, with some planning, research and a good idea, it’s surprisingly easy to set up a business in real life.”

    Evelyn Tsui and Tanya Tam of team DOTS from Hong Kong took second place in the contest with their idea of “Secure Egg”, a compact portable device that helps elderly travelers in emergency situations by enabling them to connect to their families or even the police at the push of a button.

    Team LOHAS, also from Hong Kong, came third. Team members Michelle Ng and Vanessa Kwang devised “KidSafe”, a children’s backpack that tracks children’s whereabouts. Once the backpack leaves the “safety zone” set by parents, the parents receive an automatic alert.

    “Modern technology makes international markets more accessible to even the smallest business than ever before,” said Karen Reddington, president, FedEx Express Asia Pacific.

    “I’m delighted that, by supporting FedEx Express/Junior Achievement International Trade Challenge, we are helping to develop and inspire the next generation of entrepreneurs to recognize the opportunities for themselves. The program has grown considerably in both size and stature over the last 10 years, which is a testament of a huge success that FedEx is proud to be associated with.”

    “It is remarkable that FedEx/JA ITC has now been running for 10 years and we are very proud that it has not only endured, but actually grown considerably,” said Vivian Lau, president, JA Asia Pacific.

    “Our goal for the program was always to inspire young people to think big in what they can achieve in the world of business, and to enable them by equipping them with the necessary knowledge and skills through challenges that were as close to real life as possible. The feedback of previous years tells us that participants really benefited from the program, and we will work to ensure it remains equally valuable in the years to come.”

  • Singapore Changi announces latest retail and F&B openings

    Singapore Changi announces latest retail and F&B openings

    Singapore Changi Airport has announced a number of new store openings across its terminals.

    In the transit areas, Electronics by Sprint-Cass and childrens’ clothing retailer BloomB have commenced operations in Terminal 1.

    The transit retail area in Terminal 3 offers a range of stores, with Ermenegildo Zegna the latest addition

    In Terminal 2, ramen emporium Ippudo Express, local quick bite outlet Old Chang Kee and American footwear brand Converse have opened.

    Italian luxury fashion house Ermenegildo Zegna has opened its first Changi store in Terminal 3. It offers a range of men’s clothing and accessories.

    The airport also noted that Travelex Money Changer now operates six 24-hour money changing outlets across all three terminals.

    In the public areas, Peach Garden Chinese Dining has opened in Terminal 2 (Level 3), serving classic Chinese dishes and dim sum in a contemporary style. Snacks store Umeya is now operating an island kiosk at Terminal 3 (Basement 2).

    The airport handled 5.18 million passengers in July, a +5.9% year-on-year increase. Aircraft movements were +4.7% higher at 30,790 landings and takeoffs.

    All of Changi’s top five country markets achieved growth of at least +5% during the month. Passenger traffic between Singapore and China rose +13.4% to over half a million movements. Among Changi’s top ten city destinations, Denpasar (+13.1%) and Melbourne (+20.6%) recorded the strongest growth.

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  • BigOceanData supplies Singaporean government with vessel monitoring

    BigOceanData supplies Singaporean government with vessel monitoring

    BigOceanData and Alltek Technology Singapore have won a competitive open tender to supply AIS vessel monitoring services to a Singapore government organisation.

    BigOceanData’s modern, web-based AIS (Automatic Identification System) vessel monitoring system and fleet management tools are now helping to track and report on up to 50 material container vessels at any one time that are inward bound to Singapore.

    The tender selection process was tough with the client demanding a very high standard to meet their need for a modern, high-intensity ocean vessel monitoring operation with integrated mapping and charting information.

    “The contract was finally won not only by meeting all the contractual and pricing requirements, but also because BigOceanData was able to demonstrate advanced features such as different ocean state conditions, good AIS coverage both terrestrial and satellite, a modern, user-friendly interface and good local support,” according to Sebastian Koh, Managing Director of Alltek Technology Singapore.

    The system is now fully operational following on-site user training for the agency’s personnel delivered by BigOceanData personnel and Alltek is providing local support.

    The government agency is operating the standard BigOceanData interface. Among the many other features of the system that are now assisting the agency with its high-intensity monitoring operation are the integration of mapping and charting information together with a range of port monitoring tools including ‘vessels scheduled’, ‘vessels in port and departed’ and ‘vessel time in port’ reports.

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