Tag: Singapore

  • 7 Tips for a Safe and Low-Priced Online Shopping Experience

    7 Tips for a Safe and Low-Priced Online Shopping Experience

    The possibilities for online shopping seem endless. To buy clothing, electronics and even your groceries you don’t have to leave the house anymore. Buying online is usually cheaper than buying in store too, because you can find really great discounts and deals online.

    But can you trust your mailman to deliver the package, won’t someone steal your package from your mailbox and how about the safety of online payments? Here we will share with you how to find discounts for your online shopping adventures and how to shop safely.

    1. Choose cash on delivery

    Well known webshops such as Lazada and Zalora give you the option to choose ‘cash on delivery’ (COD) as a payment method. In short, this means that you pay the delivery man in cash when he hands over the package to you on your doorstep. This way you only pay when you actually receive your package. Most of the time the delivery is free of charge. If you don’t want the hassle of staying at home until the postman arrives you can also let them deliver your package at work.

    2. Look at reviews

    Not too sure about the webshop you are about to order from? Get advice from others! You can check Trusted Company to view experiences per webshop from fellow shoppers.

    3. Check payment security systems

    Check if a webshop is Norton Secured and/or PCI DSS approved. The Norton Secure seal means that sensitive data is protected and the PCI DSS seal tells you that the security standards for account data protection are high. Your payment details are most likely to be secured when a webshop shows the two seals.

    4. Shop at international shops

    European and American shoppers have been shopping and paying online for ages already. They are not hesitating to pay online, simply because it always goes smoothly. Big international merchants, like Asos and The Body Shop are not trustworthy but also have good customer service. The only downfall is that international shipping will take longer.

    5. Use discount code websites

    Websites like Saleduck collect all discount codes and deals from webshops for you. When you are in the check-out process of a webshop and about to pay, a lot of webshops give you the option to fill in a discount code. If you don’t have a discount code, most of the time you can find one at a discount code website.

    6. Get in app discounts

    A lot of webshops really want to promote their app so they offer you a great discount when you download it. If you purchase something through their app for the first time, you can count on a nice discount, for example 15%.

    7. Use credit card discounts

    If you own a MasterCard, Citibank or CIMB Bank creditcard, you are in luck. A lot of webshops have special promotions for customers that pay with these cards. Discounts go up to an additional 25% off. Sometimes these offers are only valid on certain days, like MasterCard’s Monday promotions.

  • Esprit sales flat, as expected

    Esprit sales flat, as expected

    Largely in line with expectations, Esprit sales were flat, the fashion brand says in its interim report for the six months to December 31.

    While its overall turnover was down 0.4 per cent overall, retail turnover grew 6 per cent while wholesale turnover fell 11.4 per cent.

    The gross profit margin for Esprit Holdings was stable at 50.5 per cent, while the net loss of HK$238 million was in line with expectations. The group had a healthy net cash position of HK$4.2 billion with zero debt.

    Unfortunately, positive retail sales growth in Europe was offset by continued weakness in the wholesale channel, and negative development in the Asia Pacific region. Asia Pacific turnover declined 6 per cent year-on-year, mainly dragged down by China with its 11.6 per cent drop. China represents 46 per cent of the region’s turnover.

    In its breakdown of turnover in Asia Pacific, China led with HK$655 million, 7 per cent of group turnover. Then came Hong Kong (HK$185 million, 2 per cent, down 0.4 per cent), Australia and New Zealand (HK$162 million, 1.7 per cent, up 0.3 per cent), Singapore (HK$129 million, 1.4 per cent, down 4.7 per cent), Taiwan (HK$98 million, 1.1 per cent, up 6.5 per cent), Malaysia (HK$97 million, 1 per cent, down 2.7 per cent), Macau (HK$56 million, 0.6 per cent, down 12.7 per cent) and others (HK$43 million, 0.5 per cent, up 6.2 per cent).

    In the previous financial year, the group moved towards vertical integration which resulted in more cost-efficient product development and supply chain processes, allowing product improvements in terms of design, quality and value-for-money.

    To maximise the selling potential of its improved products, this past year the group started pursuing an Omnichannel business model. In its early stages, this has led to improvements in growing its loyal customer base “Esprit Friends” and fully integrating the commercial activities of all sales channels.

    In September, the group launched an intensive brand-marketing campaign to strengthen and rejuvenate its image.

    Performance during the first six months of this financial year (between July and December) indicated that the vertical and omnichannel model was an effective basis to turn around its business, the company said.

    In its report, the company paid tribute to its co-founder, Doug Tompkins, who died in December, describing him as a “conservationist, outdoorsman, philanthropist, agriculturist and businessman”. He and his then wife, Susie Buell, formed the company in 1968. Esprit’s collections are available in 40 countries, in about 870 directly managed retail stores and through more than 7500 wholesale sales points including franchise stores and department-store outlets. The Group markets its products under two brands, Esprit and EDC.

    Listed on the Hong Kong Stock Exchange since 1993, Esprit has headquarters in Germany and Hong Kong.

  • Hong Kong keeps close eye on Singapore’s moves

    Hong Kong keeps close eye on Singapore’s moves

    Faced with a cloudy economic outlook, Hong Kong is casting a keen eye on action taken in Singapore, a fellow open economy buffeted by external forces – and an old rival.

    Thursday offered a good look. Finance Minister Heng Swee Keat announced a Budget that includes government spending of $73.4 billion.

    It comes a month after Hong Kong’s Financial Secretary John Tsang announced its Budget with an expenditure of HK$490 billion (S$87 billion). The reaction here is that, at first glance, the two financial czars – both men coincidentally have a Master’s in Public Administration from Harvard – might have been studying the same playbook.

    Given tough times ahead, they announced near-term relief mainly in the form of tax rebates and loan schemes for small and medium- sized enterprises (SMEs), and handouts for people to help boost consumption. Buzzwords such as innovation, robotics, and research and development also liberally litter the duo’s respective long-term visions.

    Ernst and Young’s Hong Kong tax managing partner Tracy Ho puts it thus: “They (Singapore) watch us, and we are watching them too.”

    Hong Kong is facing headwinds from a mix of political tensions and economic trends. Its retail sales recently suffered the worst decline in 13 years. Tourist numbers are down. The economy will grow between 1 and 2 per cent this year, Mr Tsang has said. But a greater anxiety is over the city’s long-term prospects. One nagging worry is the lack of diversity in its economy, in terms of its dependence on China and in its industry mix. Hong Kong is heavily dominated by the financial, hospitality and other services sectors, with a negligible manufacturing presence.

    It is in this broader vision that Singapore’s Budget on Thursday offers takeaways for Hong Kong, say those interviewed. Businessman David Ting, past president of the Chamber of Small and Medium Business, laments that unlike in Singapore, Hong Kong SMEs “do not have a clear direction on where we should go”. In particular, he lauds the Singapore Budget for being “very focused”. The $4.5 billion Industry Transformation Programme offers targeted industries a road map for how they can grow.

    On why Hong Kong businesses, known for their entrepreneurial spirit, will need such guidance now, Mr Ting says the landscape has changed. With China closed off in the past, it was easier for businesses to suss out opportunities, he adds.

    Lawmaker Charles Mok, an IT entrepreneur, says that while there are superficial similarities between both Budgets, given the emphasis on R&D, there was a distinct difference in how it is to be applied. In Singapore, the focus is on how to reinforce the manufacturing industry by introducing automation, he says.

    “In Hong Kong, we talk of developing R&D. But who is it for? Factories in China? What about our domestic industry – how do we help them get restarted?” says Mr Mok.

    On the flip side, Singapore’s Silver Support Scheme to help the elderly does not go far enough, notes social work expert Nelson Chow. “It helps the bottom 20 per cent. But in Hong Kong, this is something we’re already doing. The next step is to introduce a universal pension.”

  • Whisky Magazine picks DFS’ Changi T3 duplex

    Whisky Magazine picks DFS’ Changi T3 duplex

    DFS Group’s Singapore Changi Airport duplex duty free liquor and tobacco store in Terminal 3 was recently voted Travel Retailer of the Year in the 2016 ‘Icons of Whisky Awards by Whisky Magazine.

    As reported many times, the store was opened last May as part of an airport terminal-wide upgrade of the wines and spirits category, where the Civil Aviation Authority of Singapore raised the bar by encouraging contract bidders to push the envelope in terms of shop standards and quality.

    DFS’ May 7 2015 response was the long-anticipated opening of its $64m new terminal wide programme of stores over 85,350sq ft, including its 11,400sq ft dual-floor duplex Changi Airport T3 liquor and tobacco store – the largest single space for liquor and tobacco in any DFS store around the world.

    DFS Group’s flagship wines and spirits store at Singapore Changi Airport Terminal 3 is also the LVMH-owned company’s single biggest contract investment in wines and spirit to date. Prior to the opening, Michael Schriver [the then COO of DFS] described the project as ‘DFS most ambitious airport store ever’. At the same time, Ms. Lim Peck Hoon, EVP, Commercial at the Changi Airport Group described the L&T business as the single biggest commercial concession accounting for around 20% of total sales.

    According to DFS, Whisky Magazine receives nominations for its huge number of awards, which are subsequently shortlisted by its editorial panel and then finalized after a voting process online.

    DFS IS THRILLED…

    “We are absolutely thrilled that our DFS, Singapore Changi Airport store has been awarded Travel Retailer of the Year by Whisky Magazine and look forward to continuing to deliver innovative experiences and exceptional products for our customers in 2016,” said Brooke Supernaw, DFS Group’s Senior Vice President Wines, Spirits and Tobacco.

    “At each of our locations, our aim is to provide our customers with a surprising and delightful shopping experience where they can engage with the brands and products they love. We are particularly proud of DFS, Singapore Changi Airport which over the past year has expanded to become Asia Pacific’s largest assortment of single malts.

    DFS-Changi-L&T-tall-shot

    Click on picture above to enlarge:

    “From the duplex’s design to the interactive tastings held on site, our customers have loved this new approach to travel retail and we’re delighted the industry has fallen in love as well.”

    DFS adds that this is the first year the Icons of Whisky Awards have included a Travel Retail category, which was awarded at both the regional and global level.

    SEVERAL RIVALS COMPETED

    The retailer says it beat competitors from Ireland, England, Germany, the UAE and the Netherlands to receive Whisky Magazine’s Travel Retailer of the Year in the Rest of the World regional category award last in January.

    Following this it adds it is now pleased to have gone  head-to-head with rival entries from America and Scotland to secure the global title at the awards ceremony held in London last week.

  • M1 launches 10Gbps residential fiber service

    M1 launches 10Gbps residential fiber service

    Singapore’s M1 has joined rival SingTel in offering 10Gbps residential fiber broadband services.

    The operator has extended its 10Gbps XGPON service, launched for the corporate segment last August, to the consumer market.

    M1 is offering the service for S$189 ($134) per month on a 24-month contract, which includes termination point installation and ONT activation worth up to S$294.25 and a 1Gbps 4G mobile data line with a free 300Mbps of monthly data.

    The service does not come with a voice port due to technological limitations, and M1 likewise noted that no residential wireless routers currently support 10Gbps speeds.

    “Last August, we launched Singapore’s first 10Gbps XGPON service for the corporate segment. The service has been well-received, and since then we have been conducting network and equipment testing to ensure our service is ready for our residential customers,” M1 CMO P Subramaniam said.

    SingTel launched 10Gbps residential fiber services earlier this month following a successful trial conducted in  2015. This service is also priced at S$189 per month.

  • Online shopping will never defeat brick-and-mortar shops in Singapore: report

    Online shopping will never defeat brick-and-mortar shops in Singapore: report

    Store-based retailing will continue to rule.

    The rise of e-commerce will be insufficient to dethrone brick-and-mortar shops in Singapore, according to a report by RHB Research.

    RHB noted that even if the popularity of online shopping continues to grow, traditional shops will retain the upper hand because of their wider reach.

    “We think the e-commerce business is unlikely to impact retailers to a large extent. Based on Euromonitor’s 2015 data, non-store retailing made up a mere 6.2% of the overall retail market in Singapore. Given its small scale at the moment, we think it is unlikely for the e-commerce sector to make a dent on the brick-and-mortar stores domestically,” RHB said.

    Even if the e-commerce sector grows at a much higher rate, RHB reckons that traditional stores will continue to dominate.

    “If non-store retailing growth rates were to double Euromonitor’s assumption every year, brick-and-mortar stores would still dominate at least 88% of the market share, even after five years. Hence, this suggests that the e-commerce business is unlikely to result in any big changes within the domestic retail scene,” said the report.

  • SingTel suspends mobile app after user detail leak

    SingTel suspends mobile app after user detail leak

    SingTel was forced to temporarily suspend the functions of its mobile app after a software glitch resulted in users viewing the personal information of another account.

    Customers logging into the My Singtel app were able to view and the personal details of a different customer, and to modify the data field under account information to add their own messages.

    Multiple users reported encountering this glitch over social media, with a number expressing concerns that their account details had been compromised.

    SingTel suspended access to the app, commenting in a statement that the glitch exposing the customer information only affected one account.

    The statement added that SingTel is still trying to get in touch with with the customer to apologize or explain.

    As of Midday yesterday most functions of the app had been restored, but not the bills, rewards and e-appointment features.

    The company insisted that this is an isolated incident and ensured customers that their account security had not been compromised.

  • Price war in Singapore over mobile data

    Price war in Singapore over mobile data

    A price war has erupted in Singapore for the first time in four years, as operators seek to stay competitive by lifting their data allowances.

    SingTel recently introduced a new add-on plan giving customers the option of doubling their mobile data allowance for an extra S$5.90 per month.

    Both M1 and StarHub quickly followed suit, with M1 introducing a similar option to SingTel and StarHub offering an extra 3GB of mobile data for a promotional rate of S$3 per month, rising to S$6 from April.

    The offers mean the operators have effectively halved their mobile plan charges in some cases. The biggest discounts are for more high-end plans.

    The cuts follow the ISP seeking to become Singapore’s fourth mobile operator, that it plans to charge as little as S$8 for a mobile plan with 2GB of data, with value added services charged at market rates.

    MyRepublic also plans to offer an unlimited data plan for S$80 per month. The incumbent operators currently do not offer unlimited data options.

  • Analog TV signs off in Singapore in 2017

    Analog TV signs off in Singapore in 2017

    Analog television broadcasts in Singapore will stop by the end of 2017, according to the Ministry of Communications and Information.

    Public broadcaster Mediacorp converted all seven of its free-to-air (FTA) TV channels to the digital terrestrial transmission (DTT) format in December 2013, but continues to broadcast in analog. This will end next year.

    Minister Yaacob Ibrahim said that the freed-up spectrum will provide more capacity for mobile broadband and better support Singpaore’s Smart Nation development.

    Analog broadcasting in Singapore could be turned off before 2020. Viewers who want to continue watching FTA television channels after digital migration will need to buy either a new TV set with a built-in digital tuner or connect a digital set-top box (STB) and an indoor antenna to their existing TV sets.

    A label issued by the Media Development Authority (MDA) indicates whether the TV set or STB is compliant with Singapore’s digital format.

    The MDA also offers free digital STBs to low-income households, and says it has installed digital TV receivers to almost half of the 77,000 homes that automatically qualified for assistance.

  • TrueMove, StarHub and China Mobile enter in an alliance

    TrueMove, StarHub and China Mobile enter in an alliance

    StarHub has signed an MoU with China Mobile and TrueMove covering hand-in-Hand collaboration.

    Under the agreement, China Mobile Communications Corporation, the world’s largest telco, will play host to the collaboration in five areas: device collaboration on research initiatives for mobile network evolution technologies; strengthening complementary capabilities for data business services; enhancing mobile business through global roaming cooperation and information sharing; leveraging network resources to maximize efficiency; and co-developing new business opportunities in relation to innovation and the IoT.

    StarHub CEO Tan Tong Hai said the signing was an important milestone for StarHub, and a timely one as China embarks on its One Belt One Road project in which Singapore is well poised to facilitate the journey.

    Tan said that Singapore being the regional hub for Southeast Asia is the best place to build this bridge between Southeast Asia and China. He spoke of the investments China Mobile had made in submarine infrastructure linking the region to East China.

    The One Belt One Road project is the combination of the Silk Road and the Maritime Silk Road under a vision by Xi Jinping that focuses on connectivity and cooperation among countries primarily in Eurasia.

    Tan promised seamless cross-border experience for his China Mobile partners.

    “As part of this partnership, we will also look into other areas of collaboration such as data analytics, content, cyber security and Internet of Things,” he said.

  • Product Lighthouse to launch in Singapore

    Product Lighthouse to launch in Singapore

    Singapore is to become the first offshore market for Australian consumer electronics product information platform Product Lighthouse.

    Electronic goods retailers upload product information to the content distribution platform, and its data-validation tools identify and correct data errors and gaps. Retailers can use the system to access product data in the format that suits them. They can receive product submissions, compare specifications and send information about products.

    Product Lighthouse replaces the manual system of sharing data via email and spreadsheets, saving time and improving data integrity. Its name is a reference to the importance of helping customers and store staff alike navigate to the right products.

    Singapore has been chosen by the company because of the sophistication of its domestic market, the demand for electronic goods and the close level of integration with neighbouring countries.

    With the platform’s launch set for the second half of this year, discussions have started with retailers and manufacturers.

    Through Product Lighthouse, information entered by vendors is available for retailer websites, catalogues, staff training and in-store tickets.

    Research by Product Lighthouse shows that 87 per cent of consumers say they leave a website and go elsewhere when product data is not available, and 64 per cent of consumers say they are less likely to buy from a retailer who does not provide full product information.

    “Most of us have visited a store and found staff unable to answer our questions,” says CEO Chris Grannell. “Even though most consumers buy electronic goods in a physical store, the growing significance of the internet in the product-discovery process means that comprehensive and accurate information online is essential.”

    In an audit of product information on retail websites in Singapore, the company found inaccuracies and information gaps. Grannell says there were some “astonishing” inaccuracies such as incorrect specifications, key attributes missing, wrong weights and sizes.

    “We even found one website that had a laptop listed with a gender. These things happen because content is transferred from manufacturers to retailers manually. Even with the most conscientious staff, mistakes will happen.

    “Added to that, the nature of this industry means that information is not available all at once, which means it is more of a drip feed and less of a single transfer.”

    Product Lighthouse is designed with low-fi integration in mind. “Making things easy is part of our DNA,” says Product Lighthouse chief technology officer Gex Cheng, “so we’ve created the ability for retailers to export content in customised spreadsheets that can be loaded into their systems. We’ve also invested heavily in collaboration tools and in the ability to read output from all kinds of manufacturer databases and libraries.

    “I always like to remind our users that our approach is to ensure our software fits their workflow rather than changing it.”

    Cheng and Grannell will be in Singapore next month, with their product also being showcased at theTech in Asia expo at Suntec Convention Centre.

  • Bata Shoe Company’s unified communications story

    Bata Shoe Company’s unified communications story

    With mobility growing at an unprecedented pace, user dependence on smartphones and tablets has intensified. The mobile device, with its dynamic messaging, video conferencing, and voice options, is playing an enabling role to empower communication within the organization—regardless where employees are geographically.

    For a company with extensive global reach as that of Bata Shoe Company—one of the world’s largest and oldest shoe companies with more than 33 production facilities in 28 countries on five continents—ensuring seamless collaboration between all of its facilities proved a challenge. Product and R&D teams in China, Singapore and other Asia-Pacific countries were spending too much time and money traveling to collaborate on design, production and operations planning; as were members of senior management whose valuable time was spent shuttling between offices.

    “It has always been a hassle and costly affair whenever we tried to organise regional meetings or group discussions. This would normally take at least one month of coordination and planning before the actual event to gather every participant to a single location,” relates Jeremy Chong, regional manager for Finance and IT Projects.

    Such arrangement afforded one to two business-critical meetings annually, but faced with an increasingly competitive business environment and other external factors, Bata recognized the need for the company to become more fluid. “This meant more collaboration both horizontally and vertically. To have fruitful and meaningful discussions, it wasn’t good enough to send out emails and collaborations that relied solely on public internet connectivity. These were not enough to deliver the kind of face-to-face discussions we wanted,” says Chong.

    Seamless collaboration

    It’s a different picture these days for Bata Shoe Company. Leveraging unified communications tools provided by Tata Communications, the company is now able to collaborate across multiple platforms and devices, all the while mitigating communication costs. Implementation, which began with a pilot rollout involving video conferencing end points deployed in Bata’s Singapore, Switzerland, Chile, Indonesia and India facilities, proved successful, providing high-quality video, an immersive face-to-face meeting experience and solid reliability.

    “We did not have too much involvement during the whole implementation process as this was well managed by Tata Communications’ assigned project manager to us. Overall, the whole process was comfortable for countries that already have a developed infrastructure while we faced longer implementation in countries with less developed infrastructure,” reports Chong, adding that the company’s key critical criteria for choosing a unified communications vendor include the following: strong global coverage in the network infrastructure “as we are geographically diverse”; availability of the right technology that has to be user-friendly and easy-to-use; and strong customer service support available 24/7. “Tata Communications was chosen primarily because of its long-term relationship with us and its flexibility to meet our specific requirements. The team’s customer-oriented approach has played an important part as well,” he says.

    The benefits

    From an economic point of view, unified communications has proven to be quite cost-effective for Bata Shoe Company. Since implementing Jamvee across the enterprise, Chong reports increased productivity across the whole organization. “The frequency of group discussions and collaborations has invariably increased as the technology has provided an almost face-to-face environment. This has also indirectly affected the way the organization has deployed people. Instead of consolidating the entire team in one geographical location, we are able to comfortably have members of the team working locally, cutting down some of the hassles and inconveniences during a re-allocation,” shares Chong.

    In terms of numbers, traveling costs were reduced by as much as 40 percent in some operations, saving the company $300,000 in the first year and generating a 400 percent return on investment. “From a social point of view, less flying means our executives have the valuable opportunity to spend better quality family time,” puts in Chong, adding that with the basic infrastructure now laid down, Bata is more confident about embarking on another phase of its IT journey. “We want to expand the usage of our investments to enhance cross-border collaborations horizontally through multiple devices. If this is successful, we will potentially shift from a pure physical office environment to a hybrid office environment,” he states.

    According to Chong, this exercise was initiated and run by the business users themselves. “It has been an adventure, as well as a steep learning curve for us to grasp and understand the technology involved to support the solution we wanted. An important lesson we learnt is that not all IT implementations are the same and these cannot be managed in similar manners,” he shares. For enterprises looking to leverage unified communications in their business, Chong relates Bata’s insights:

    • Listen to the users. “Listening is crucial as it enables a good understanding of the user’s business requirements, therefore providing the right solutions.”
    • Be prepared to fail. “But learn quickly from mistakes to complete the projects.”
    • The key change management, and most important, is education. “Before any implementation, we would showcase to each country the capabilities of this technology and how it can help them with collaborations and effective communication. After implementation, online trainings were conducted to ensure users are well equipped to use the facilities,” he says, adding, “a strong sponsorship by the CEO and Chairman helps make the process smoother as well.”
  • Cost of living here makes cosy retirement an elusive goal: HSBC

    Cost of living here makes cosy retirement an elusive goal: HSBC

    The cost of living makes Singapore one of the toughest countries to retire in, according to a new report.

    It found that about two in three workers here who are 45 or older would like to retire in the next five years but 48 per cent of them say they would not be able to. The global average is 38 per cent.

    Moreover, 30 per cent of pre-retirees predict that they will never be able to retire fully, compared with the global average of 18 per cent.

    Respondents here said the main impediment is a lack of savings or the burden of having dependants to look after.

    Having a lot of debt was raised by 26 per cent of respondents here, compared with the global average of 22 per cent.

    TOUGH FINANCIAL REALITIES

    The HSBC Future of Retirement survey shows that the financial realities of retirement make it an elusive goal for many Singaporeans.

    MR MATTHEW COLEBROOK, head of retail banking and wealth management, HSBC Singapore.

    HSBC surveyed 1,008 respondents – people aged 25 and above as well as retirees – here as part of a survey spanning 17 countries.

    START SAVING TODAY

    Even small amounts saved by starting today can lay the groundwork for a comfortable retirement tomorrow, placing retirement dreams squarely within reach.

    MR IAN MARTIN, chief executive of HSBC Insurance (Singapore).

    Mr Matthew Colebrook, head of retail banking and wealth management at HSBC Singapore, said: “The HSBC Future of Retirement survey shows that the financial realities of retirement make it an elusive goal for many Singaporeans.

    “This can be rectified with early financial planning and by seeking help from professionals who can provide advice on how to protect and grow your wealth.”

    Pre-retirees surveyed said they were anxious that events such as bad health and the need to care for elderly parents could interfere with saving for retirement.

    In spite of these concerns, retired life still offers much promise for some.

    The poll found that 62 per cent of Singapore respondents aged 45 and above who would like to retire in the next five years want to travel or pursue other interests.

    Also, 42 per cent of them would like to spend more time with family once they retire.

    Pre-retirees also expect relationships with friends, their partner and their children to improve.

    Mr Ian Martin, chief executive of HSBC Insurance (Singapore), said: “People should consider their personal aspirations when planning for retirement and ensure they are making sufficient financial provisions for this new chapter in life.

    “Even small amounts saved by starting today can lay the groundwork for a comfortable retirement tomorrow, placing retirement dreams squarely within reach.”

    HSBC also noted that about 56 per cent of pre-retirees here do not know how to predict how much they will spend on healthcare in retirement, even though 74 per cent believe that poor health will make saving for their golden years more difficult.

    To help individuals assess financial preparedness in realising their retirement aspirations, HSBC has launched the Retirement Profiler, an online tool to help individuals assess financial preparedness in realising their retirement aspirations.

  • StarHub acquires 9% stake in MM2 Asia for SGD 18 mln

    StarHub acquires 9% stake in MM2 Asia for SGD 18 mln

    Singapore operator StarHub has acquired a 9.05 percent stake in film and TV content producer MM2 Asia for SGD 18.04 million. StarHub will collaborate with MM2 to expand and differentiate its pay TV offerings through original content creation. In addition, StarHub can leverage MM2’s regional presence to market and distribute its own localised content beyond Singapore.

    StarHub has agreed to subscribe for an aggregate of 44,000,000 new ordinary shares in the capital of MM2, by way of a private placement. The aggregate consideration for the placement shares is SGD 18.04 million. The price per placement share is SGD 0.41.

  • Singapore debut for Korean jeweller Stonehenge

    Singapore debut for Korean jeweller Stonehenge

    South Korean jeweller Stonehenge has opened its first overseas store – on Level 1 of Singapore’s Takashimaya Shopping Centre.

    Stonehenge is showcasing its full range of earrings, necklaces, bracelets, rings and timepieces, which come in silver, rose gold, white gold and yellow gold.

    To mark the opening, customers visiting the new store will receive nail stickers, while those spending S$350 (US$254) or more will receive a portable battery charger as a gift.

    Processed with VSCO

    Also, Stonehenge will be choosing 20 customers to meet its brand ambassador, Korean actress Shin Min Ah, at a special event in June. To be eligible for selection, customers who have made a purchase at Stonehenge need to post a photo on Instagram.

    Launched in 2008, Stonehenge has 62 retail stores and 16 duty-free counters in South Korea. It is part of the Woorim FMG (Fashion Marketing Group), founded 20 years ago and with interests in the entertainment and F&B sectors.