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Tag: Singapore

  • Saturation hits luxury retail, but new trends provide hope

    Saturation hits luxury retail, but new trends provide hope

    The Asia Pacific region is experiencing a slowdown in the luxury retail sector, but new emerging trends are set to provide the retail sector with a solid new stimulus for demand in the coming years, according to the CBRE’s special report, ‘The Future of Luxury Retail in Asia Pacific: New Demand Drivers and Shifting Occupier Requirements’.

    Most major luxury retailers are now well established in Asia Pacific with China and Hong Kong being two of the most penetrated markets at 89 per cent and 81 per cent, respectively. However, following several years of rapid expansion, these markets are approaching saturation point.

    “Accounting for one-third of personal luxury goods sales globally in 2014, Asia Pacific is a key region for international luxury brands with key markets including China, Hong Kong, Japan, Singapore, South Korea and Taiwan. However, the high growth period for luxury retailers in the region is gradually coming to an end,” said Dr Henry Chin, Head of Research, CBRE Asia Pacific.

    ”Over-saturation, surging operational costs and weaker retail sales – especially in Hong Kong due to the slowing mainland China economy – have prompted retailers to consolidate their existing store networks and slow their rate of entry into new markets focusing on operational efficiency,” said Dr Chin.

    CBRE has identified three emerging trends which will partially offset some of the negative effects arising from the slowdown and compensate for the loss of demand: Emergence of Affordable Luxury, Inclusion of F&B and Growth of Luxury Childrenswear.

    “With the momentum behind these trends, this will account for a bigger slice of leasing demand for prime retail space,” says Joel Stephen, Senior Director, Head of Retailer Representation, CBRE Asia. “Retailers and landlords can benefit from the projected growth in these market segments,” he adds.

    Emerging retail trends are already impacting luxury retailers’ real estate requirements, resulting in new, and in some cases, weaker demand for different types of retail property, the report said.

    Some of the key trends that CBRE have identified include weaker interest in department stores despite continued interest in prime locations; stronger focus on flagship stores; increased popularity in short-term opportunities for brands to set up exhibitions, pop-up and concept stores, and workshops, to generate greater consumer awareness; affordable luxury brands continuing to drive demand; and more interest in upper floor retail space, but limited to top-tier malls and driven by F&B and childrenswear segments.

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  • Singapore residential development gets top architecture gong

    Singapore residential development gets top architecture gong

    Rather, the unique construction that won the top architecture gong at this year’s World Architecture Festival in Singapore is actually a cluster of 31 unit blocks named The Interlace — because the towers do just that.

    The creative minds behind The Interlace, architect Buro Ole Scheeren from Germany and Netherlands-based OMA, opted for a medium-density design that features apartment “towers” that are only six storeys high — small fry for Singapore where sky-high living has become the norm.

    The Interlace has got the top gong at the architecture “Oscars”. Picture: Picture: Iwan Baan

    The Interlace has got the top gong at the architecture “Oscars”. Picture: Picture: Iwan BaanSource:Supplied

    The creative minds behind The Interlace, architect Buro Ole Scheeren from Germany and Netherlands-based OMA, opted for a medium-density design that features apartment “towers” that are only six storeys high — small fry for Singapore where sky-high living has become the norm.

    The Interlace covers 170,000sq m and includes 1040 apartments. Picture: Iwan Baan

    The Interlace covers 170,000sq m and includes 1040 apartments. Picture: Iwan BaanSource:Supplied

    What makes the complex much more complex is how the apartment blocks are perched together in groups of four. And there’s a whopping 1040 apartments in it.

    Placed together in a unique formation, the residential blocks create a hexagonal shape which makes room for eight communal courtyards on the site.

    Described by Mr Scheeren as a “vertical village” the winning project also has a 50m pool on site, a clubhouse, reading rooms, gyms and games rooms and even a space for communal karaoke. For fitness junkies living on the densely populated island there is also a 1km running track.

    The unique complex was designed as a village rather than just a building. Picture: Iwan Baan

    The unique complex was designed as a village rather than just a building. Picture: Iwan BaanSource:Supplied

    Described by Mr Scheeren as a “vertical village” the winning project also has a 50m pool on site, a clubhouse, reading rooms, gyms and games rooms and even a space for communal karaoke. For fitness junkies living on the densely populated island there is also a 1km running track.

    Rather than sky-high towers, The Interlace is a cluster of 31 six-storey blocks. Picture: Iwan Baan

    Rather than sky-high towers, The Interlace is a cluster of 31 six-storey blocks. Picture: Iwan BaanSource:Supplied

    Finished in 2013, The Interlace, which covers a huge 170,000sq m surface area, won favour with the panel of judges thanks to its “radical and alternative approach” to contemporary living.

    The mixed-use structure is located within a green belt area of the city-state’s southern ridges.

    Professor Sir Peter Cook, founder of architectural group Archigram, and one of the design event’s jurors, told CNN: “It’s very difficult, with so many beautiful, quite worthy projects.”

    “I think you look for a power of impact. It’s something you know you’ll remember in two years’ time. It’s a game-changer.”

    “So much of architecture is predictable, particularly housing. Another block, another block, another block. But this isn’t ‘ho-hum here we go again’,” he said.

    And Australia also got a look in at the global event with a Sydney site earning a prestigious nod.

    SJB Architects won the Mixed-Use Development Award for its Casba project in Danks St, Waterloo which includes 65 residential units and 3000sq m of retail space.

    Retail and residential development Casba snagged the Mixed-Use Development Award.

    Retail and residential development Casba snagged the Mixed-Use Development Award.Source:Supplied

    SJB Architects won the Mixed-Use Development Award for its Casba project in Danks St, Waterloo which includes 65 residential units and 3000sq m of retail space.

    Casba also won the Urban Development Institute of Australia’s coveted NSW President’s Award this year.

    Casba also won the Urban Development Institute of Australia’s coveted NSW President’s Award this year.

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  • Jenny Bakery Singapore opens doors

    Jenny Bakery Singapore opens doors

    Scam-struck Hong Kong biscuit maker Jenny Bakery has opened in Singapore.

    And unlike the Shanghai store which opened last week, it’s the real deal, not a copycat.

    The new Jenny Bakery Singapore store is located at Block 422 Ang Mo Kio Avenue 3. Like its real parent in Hong Kong, the store offers handmade butter cookies in tins adorned with teddy bear pictures.

    The store will be run by members of the same family which launched the original Hong Kong bakery, which is gaining a growing following around Asia for its unique taste and packaging. Which is perhaps why a copycat was launched under the same brand name in Shanghai, raising the ire of city officials, not to mention hundreds of customers who queued on opening day only to discover the shop was not genuine.

    Jenny Bakery Hong Kong has two stores – one in Tsim Sha Tsui and the other in Sheung Wan.

    Jenny Bakery Hong Kong

    Jenny Bakery Singapore MD Lawrence Lim says the cookies are flown in from Hong Kong weekly. The main reason for opening an official store was to protect the brand’s trademark and discourage copycats… like the Shanghai store, whose cookies are actually baked in a factory in Shenzhen.

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  • Starhill Global REIT boosts revenue

    Starhill Global REIT boosts revenue

    Singapore based Starhill Global REIT has posted a 16.8 per cent increase in revenue in the first quarter, to September 30.

    YTL Starhill Global REIT Management, the manager of the trust, says revenue rose to S$56.8 million and net property income rose 10.2 per cent to $43.6 million. The growth was mainly driven by the full-quarter contribution from the recently-acquired Myer Centre in Adelaide, Australia, and the performance of its Singapore portfolio, partially offset by lower contributions from China and foreign currency movements.

    Starhill Global’s Singapore portfolio, comprising interests in Wisma Atria and Ngee Ann City on Orchard Rd, contributed 60.1 per cent of total revenue, or $34.1 million during the quarter, led by positive rental reversions achieved in previous quarters, partially offset by higher operating expenses.

    The Singapore retail portfolio recorded negative rental reversions of 7.3 per cent for leases committed during the quarter to accommodate new retail concepts, but these accounted for less than three per cent of the revenue, excluding the Toshin master lease at Ngee Ann City Retail.

    Wisma Atria Retail revenue increased 7.7 per cent. Tenant sales at Wisma Atria rose 1.1 per cent year on year, mainly due to contributions from tenants which have recently started their operations at the mall. However, shopper traffic was down 9.7 per cent, as the strata area owned by Isetan remained closed for its renovations.

    Isetan’s new tenant in the basement level, Mango, opened in September 2015.

    The trust’s Australia portfolio, comprising Myer Centre Adelaide and the David Jones Building and adjoining Plaza Arcade in Perth, Western Australia, achieved a net property income of S$8.6 million, 113.2 per cent higher than the previous corresponding period mainly due to the full-quarter contribution from the recently acquired Myer Centre Adelaide, but partially offset by depreciation of the Australian dollar against the Singapore dollar and lower occupancies at David Jones Building. The trust is in negotiations with tenants over redevelopment plans at Plaza Arcade to accommodate anchor tenants and optimise upper-storey space.

    The trust’s Malaysia portfolio, comprising Starhill Gallery and interest in Lot 10 along Bukit Bintang in Kuala Lumpur, contributed 11.5 per cent of total revenue, or S$6.5 million in the quarter.

    NPI was approximately S$6.3 million, down 16 per cent on the previous corresponding period, mainly due to depreciation of the Malaysian ringgit against the Singapore dollar and reversal of excess provision of property taxes in the previous corresponding period following the revision in property tax assessment.

    Renhe Spring Zongbei in Chengdu, China, contributed 3.4 per cent of total revenue, or S$1.9 million and its NPI was S900,00, a decline of 27.5 per cent.

    “The decline was largely attributed to lower revenue as the high-end luxury retail segment continues to be impacted by the austerity measures the central government has put in place, as well as increasing challenges and competition from new and upcoming malls in the city,” said YTL Starhill Global REIT Management in a statement.

    The Japan portfolio, which comprises five properties located in central Tokyo, contributed two per cent of total revenue and achieved NPI of $900,000, 11.5 per cent higher than in the previous corresponding period, largely attributable to higher occupancies and lower operating expenses, partially offset by depreciation of the Japanese yen against the Singapore dollar.

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  • DFASS Group to be official partner for ARC Singapore

    DFASS Group to be official partner for ARC Singapore

    Inflight concessionaire Duty Free Air and Ship Supply (DFASS) will be official partner for the 2016 Airline Retail Conference (ARC) Asia/Pacific showpiece, event organiser Memphis Media has confirmed.

    Memphis Media has made efforts to restructure all ARC events since its acquisition mid-March and last month announced it will reduce entry tickets for exhibitors and delegates to all ARC events.

    “We are delighted to be participating in the ARC Asia event again,” said DFASS Group deputy chairman John Garner.

    “The last Asia exhibition held in Hong Kong was very well attended and we see this as a great opportunity to build on our business in the region.  Singapore Airlines, SilkAir, and Scoot have all renewed their agreements with us, and we are pleased to be starting our new business on board Tianjin Airlines and Vietnam Airlines later this month. We look forward to meeting existing and new clients at the show in Singapore.”

    Memphis Media managing director Karim Halwagi added: “I couldn’t be happier to be working once again with DFASS. As a true leader in the market, I am delighted DFASS Group is supporting the upcoming ARC Asia-Pacific event.”

    DFASS manages 27 inflight retail concession airline partners globally covering duty-free shopping and buy-on-board programmes, with over 150 million international and domestic passengers per year.

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  • Singapore Targeted By Cybercriminals with Banking Trojans

    Singapore Targeted By Cybercriminals with Banking Trojans

    IT Threat Evolution report of Kaspersky for the third quarter of 2015 reveals that Singapore suffered maximum attacks from banking Trojans during second quarter of 2015 with 496 individuals reporting attacks.

    It is not a coincidence that Singapore is one of the ASEAN countries with the highest rates of digital banking.

    According to an A.T.Kearney and EFMA global retail banking study, Singapore has the highest inclination for digital banking in the global arena.

    Computerweekly.com published news during the last week of October, 2015, quoting Jimmy Fong, Channel Sales Director Southeast Asia, at Kaspersky Lab, as saying “The nation was also placed among the top three in banking capabilities which included technological developments, a strong financial environment and digital infrastructure”.

    Computerweekly.com published news during last week of October 2015 quoting Michael Yeo, Senior Market Analyst at market research firm IDC, as saying “Singapore is a magnet for such banking Trojans because of combination of the country’s general wealth levels and growing use of associated services like e-commerce and mobile commerce”.

    Yeo added that Singapore is one of the nations which use maximum online banking services with 74% of the population using it.

    The statistics also reveal that patrons in Austria were targeted by banking Trojans excessively than in any other region: Around 5% of all Kaspersky Lab patrons in Austria faced this malware during the quarter. Turkey (3%) was placed at number three.

    Geographically most of countries in the top ten lists of information-stealing malware attacks during Q3 have a large number of users of online banking. Trojan-Downloader.Win32.Update was the most rampant malware used to target users of online banking, as it is being employed in 63.1% of attempted assaults to embezzle payment credentials of users.

    In third quarter, the Kaspersky Lab Global Research and Analysis Team (GReAT) identified a number of advanced cyber-espionage operations. Amongst others, comprising of the infamous Turla gang that employs satellite communications to administer traffic of its command-and-control server for subsequent operations known as Darkhotel APT, which penetrates Wi-Fi networks of hotel to put backdoors on target systems and fresh activity of the Blue Termite APT focusing on embezzling information from establishments in Japan.

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  • Fintech group ayondo launches first product in Singapore

    Fintech group ayondo launches first product in Singapore

    Financial technology group ayondo has partnered with KGI Fraser Securities, a Taiwanese-owned brokerage in Singapore to launch KGI Contrax, which uses ayondo’s platform TradeHub.

    The platform, under a white-label arrangement, allows investors to buy and sell Contract for Difference (CFD). With CFDs, an investor can participate in the future market movements of an underlying asset without actually owning or taking physical delivery of the asset.

    Edwin Lee, Head of Wealth Management, KGI Fraser said: “We are excited about the partnership with ayondo, who brings with them extensive expertise as leaders and pioneers in innovative financial technology. CFDs are well known in Singapore and we believe that KGI Contrax may appeal to many investors because of its ease of use and innovative features.”

    Robert Lempka, CEO and co-founder of ayondo, said: “ayondo’s mission is to revolutionise trading and investing for individual investors. We are already a pioneer and leader in our core markets in Europe and we want to expand into Asia, and in particular in Singapore where you have very tech-savvy people who may be looking for a faster and more transparent way of executing their trades.”

    In addition to the launch of KGI Contrax, ayondo is introducing the concept of social trading to investors in Asia. Social trading is one of the latest growth industries that tap innovative technology to change the way trading and investment services are traditionally provided. This modern way to invest allows retail investors to copy the trading strategies of successful experts at the click of a mouse or a few touches on their mobile devices.

    Those who do not have sufficient time or expertise to trade on their own can automatically copy the performance of the “Leading Traders,”, who share their trading strategy on ayondo and can generate additional revenues from their trading skills.

    ayondo ranks traders over five different career stages, from Street Trader up to Institutional Trader, based on their risk and return profiles. Better risk management and performance will get the trader to the next ayondo career levels.

    Mr Lempka explained: “There have been a lot of discussions about online trading threatening the livelihood of remisiers. We see social trading as a possible way in which remisiers can have a profitable future by signing up to become Leading Traders and even increasing the number of clients or followers they have.

    “ayondo is very well positioned with its business model and scalable solutions. The group already covers a broad spectrum of services in the Finance 2.0 field covering both retail and institutional sectors.”

    Currently, investors who wish to use ayondo’s social trading platform will have to open an account with its London office. ayondo has way over 100,000 users from 123 different countries.

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  • Five Manchester City online stores launched in Asia

    Five Manchester City online stores launched in Asia

    English Premier League club Manchester City has partnered with EZ Shopnet to launch five online stores serving Asian fans.

    Manchester City online stores will be launched for customers in China, Hong Kong, Japan, Korea andSoutheast Asia.

    As the club’s new online retail partner for Asia Pacific, Hong Kong-based EZ Shopnet will help to meet fast growing demand across Asia Pacific for official Club merchandise. Each of the five stores operates in local languages and currencies, with local customer support enabling the club to get official merchandise to its fans quickly and cost effectively.

    Manchester City is following the lead of rivals Manchester United and Chelsea in cashing in on the growing fan base for EPL across broader Asia. It recently opened a regional management office in Singapore.

    Omar Berrada, group commercial director for City Football Marketing, which brokers Manchester City’s commercial partnerships and manages all of its retail and licensing, said that through EZ Shopnet, the club can get even closer to its growing fan base across Asia Pacific and deliver them a better and quicker service.

    “We have seen an enormous growth in our followers in the region and we are extremely happy that they will have easier access to official City kits and our wide range of merchandise than ever before.”

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  • Singapore startup Semantics3 in new funding round

    Singapore startup Semantics3 in new funding round

    Singaporean software startup Semantics3 Friday said it has successfully closed a $1.55 million round of bridge funding, with Brussels-based seed investor E-Merge bringing $1.5 million to the table.

    The company will use the latest funding, which also saw participation from early-stage investor Zillionize, to expand its business team and ramp up sales efforts. The company had raised $600,000 from the two investors in a previous financing round in March 2013.

    “We are at break even, but we’re not profitable yet,” chief executive Varun Sivamani told CNBC.

    Semantics3’s proprietary software allows companies to more efficiently track their products. Conventional barcodes are unable to track products and prices in real time across the internet, which creates a conundrum for e-commerce retailers.

    The four-year-old startup’s over-the-top software solves this problem by allowing them to use their barcodes to access detailed information about any item in their inventory, and track the price of their products in real time across a variety of websites.

    While competitors Indix and Factual have more funding and a larger share of the market, Semantics3’s software is currently being used by retailers, as well logistics, industrial supply, and insurance companies, including Liberty Mutual and American Family Insurance, the company said.

    The brain child of three students from the National University of Singapore, Semantics3 in 2013 became the first Singaporean startup to make it into the prestigious Y Combinator accelerator program that has also seen participation from bitcoin wallet provider Coinbase and Codeacademy.

    With some 99 percent of Semantics3’s customers based in the US, the company is looking forward to stress testing some of its software’s new features during the Black Friday sales in the US later on this month.

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  • Why Apple Is Rumored To Launch First Store In Singapore

    Why Apple Is Rumored To Launch First Store In Singapore

    Recent online speculation suggests that Apple Inc. is all set to open its first-ever retail outlet in Singapore by 2016, leading to the shutdown of the Pure Fitness Knightsbridge branch by end of this year. The tech giant currently operates in Singapore through its online store and third-party retailers.

    The company’s next store is the reason why Pure Fitness has to evacuate from its location on Orchard Road. The fitness chain notified its customers and tenants about its decision in an email to “make way” for Apple’s new store opening. The Pure Fitness Knightsbridge is scheduled to shut on December 15, 2015.

    Apple has still not confirmed Pure Fitness’ statement; however, there is a great chance that the tech giant may be considering investing in its outlet on Orchard road, the shopping hub of Singapore, to further expand its customer-base and make use of its ideal store location.

    Since the tech giant’s products and services are accessible in Singapore through its online store and third-party outlets, Apple has already secure a position in competitive markets even before its first store opening. The company’s apparent decision to launch an Apple Store in the specific location will also help trigger increased activity for surrounding brands and businesses through its dedicated client-base.

    While Apple remains vague about its plans for Singapore, it has been busy launching new Apple Stores in various countries, with the latest opening in Dalian, China. The company is also set to launch its largest Apple Store in Dubai before the end of October, marking it as one of the many Apple outlets that the company launched solely this month. With Apple’s vast campaign to expand its platform to numerous countries in 2015, it will not come as a surprise if the tech giant launches a retail outlet for its Singaporean client-base to further promote its variants.

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  • Gold retailer Degussa opens Singapore branch

    Gold retailer Degussa opens Singapore branch

    Degussa, one of Europe’s largest gold and precious metals retailer, is opening a branch in Singapore, its first outside Europe.

    With the opening of the 3,000-square-foot branch near Dhoby Ghaut MRT Station on Wednesday evening, Degussa hopes to capture the growing retail market for gold and precious metals not only in Singapore but also in Asia.

    “Singapore is not yet a big wholesale market (for gold) like Hong Kong is, but we bank on retail clients and Singapore is an ideal market to start with,” said Wolfgang Wrzesniok-Rossbach, chief executive officer of Degussa, in an interview with The Business Times on Wednesday morning at its Singapore branch.

    The Singapore branch will offer a range of physical bullion products, including gold, silver and platinum coins of various weights, and investment bars.

    It will also retail gift collection items, including pure gold cufflinks and gold watches, in a specially designed showroom.

    In addition, the branch also offers safe deposit box rental services for customers who wish to safekeep their valuables with Degussa.

    Degussa aims to start its online store for the Singapore market in two weeks’ time. It also plans to allow customers to cash in their scrap gold in the near future.

    Mr Wrzesniok-Rossbach highlighted the strong and timeless appeal that gold has for Asian consumers, and said that sales of jewellery and accessories will be a key segment of the Singapore branch’s operations. For example, customers who hope to gift their children or grandchildren will find something to their liking at the branch.

    “Because this same gold has been recycled over millennia and its value remains,” he said, pointing to a Degussa 1kg gold bar. “When you touch this, you have one atom in it that came from Cleopatra’s crown.”

  • Asia Pacific Breweries Singapore to axe exclusivity practice after probe

    Asia Pacific Breweries Singapore to axe exclusivity practice after probe

    Asia Pacific Breweries Singapore has agreed to stop supplying draught beer to retail outlets on an exclusive basis after it was investigated by the Competition Commission of Singapore (CCS).

    The CCS said in a statement on Wednesday that it had acted on complaints, adding: “The outlet-exclusivity practice had prevented retail outlets from selling draught beers from competing suppliers and restricted the choices of draught beers available to retailers and consumers.”

    Under competition laws here, a dominant firm is prohibited from preventing or impeding its competitors from competing effectively through exclusive business practices.

    In its investigation, the CCS obtained information on the beer market in Singapore from retailers and beer suppliers.

    Asia Pacific Breweries Singapore(APBS) has since provided the CCS with a voluntary commitment to cease its outlet exclusivity practice.

    The change in the company’s business practices will be applicable to all draught beer contracts entered into with retailers on and after Dec 28 2015, including new and renewal contracts. APBS will also be required to provide CCS with documents to show that these changes have taken effect.

    The CCS will continue to monitor market practices

    CCS chief executive Toh Han Li said: “The removal of these exclusive business practices will allow retailers to stock a greater variety of draught beers, leading to a more vibrant market with more choices for consumers, as well as opportunities for existing suppliers and new entrants including microbreweries and craft beer suppliers.”

    He added that in general, exclusive agreements made by a dominant firm that harm competition may be illegal under the Competition Act.

     

  • JC Decaux launches new digital signage network at Singapore mall ION Orchard

    JC Decaux launches new digital signage network at Singapore mall ION Orchard

    JCDecaux Singapore, the Best Out Of Home Media Company in the republic and subsidiary of the No.1 Outdoor Advertising Company in the world announces the launch of a brand new Digital Advertising Network at ION Orchard, Singapore’s prime retail and lifestyle destination.

    Following the successful launch of the “Digital Fashion Network” in July, JCDecaux unveils a new Network of 80-inch digital screens in the mall, packaged as the “Premium ION Link Digital Network”.

    ION Orchard

    Located at key touch points along the busiest linkways of Orchard Road, the brand new Network comprises of 9 screens unmissable to shoppers and train commuters passing by. As the exclusive media platform within the linkway, “ION Link Digital Network” is a unique opportunity for brands to effectively cover 100% of the audience. Maiden advertisers H&M, Juicy Couture and PuTien commenced advertising at this prime location.

    In addition, JCDecaux has completed its second phase of upgrading work, increasing the screen size of the “Digital Lift Lobby Network” from 19” to 24”. This network comprises 34 LCD screens installed across all Lift Lobbies and is the only media solution covering the eight levels of the award winning mall. Acuvue and Moncler are currently running their campaigns on the Digital Lift Lobby Network.

    “The new installations at ION Orchard Link delivers a high quality digital advertising footprint to the former Orchard Underpass through which more than half a million people pass every week” said Mr. Ashley Stewart, Managing Director, JCDecaux Singapore.

    “ION Orchard Link serves as a vibrant underground retail walkway that extends the mall’s current retail offerings. As our second underground link after ION Paterson Link, this high-traffic walkway provides shoppers and commuters with quick and easy way to access ION Orchard. We are certain that the new ION Link Digital Network will serve the latest trends and offerings, lending a lifestyle dimension to this fast-paced location and will enhance the overall shopper and commuter experience.” said Mr. Chris Chong, Chief Executive Officer, Orchard Turn Developments.

  • M1 launches M2M platform and solutions

    M1 launches M2M platform and solutions

    Strategic partnerships with multiple technology providers to deliver a wide range of smart M2M solutions for transport, retail, healthcare and security sectors.

    Singapore – M1 Limited (M1) today announced the launch of its advanced M2M (machine-to-machine) platform, M1 M2M Connect. Through M1 M2M Connect, corporate customers will be able to access, track and manage all their connected devices conveniently, from any authorised computer or mobile phone. They will also be able to set and change business rules, perform device troubleshooting and obtain detailed reporting of all M2M activities.

    Additionally, M1 has partnered multiple technology providers, including Aerolion Technologies, Napier Healthcare Solutions, Quantum Inventions, and Parametric Technology to introduce customised solutions to meet the needs of Singapore’s transport, retail, healthcare, and security industries, and enable more customers to enjoy the benefits of a M2M rollout on Singapore’s fastest 4G network¹.

    According to a recent Forbes² article, connected devices are expected to grow from 10 billion today to as many as 30 billion devices by 2020, deployed across homes, offices, and public spaces worldwide. At the M2M platform launch event today at the St. Regis Hotel for corporate customers, M1 and its partners demonstrated several innovative solutions, including smart healthcare monitoring solutions, and how security firms can deploy drones to stream real-time surveillance video over protected premises.

    Mr Willis Sim, Chief Product Development & Corporate Solutions Officer, M1, said:

    “Much has been made of the benefits of M2M and the Internet of Things. To make it even easier for our customers to leverage on M2M technology, we engaged them to understand their needs, and worked with our partners to develop and offer effective solutions that improve our customers’ productivity, lower their costs and help them tap on new market opportunities.”

    “M1 is a leader in communications infrastructure and we are excited to be their strategic partner. Our relationship has been proven to be successful during the lab trials for the Smart Nation program. Consequently M1’s leading edge connectivity solutions form the backbone of our Home Care solution making it really affordable for our elderly population. Taking preventive healthcare one step forward, this solution provides the chronically ill with on-demand access to healthcare service providers who can help monitor and maintain their health,” said Mr Tirupathi Karthik, Chief Executive Officer, Napier Healthcare Solutions.

    M1 is Singapore’s most vibrant and dynamic communications company, providing mobile and fixed services to over 2 million customers. Since the launch of commercial services in 1997, M1 has achieved many firsts, including the first operator to offer nationwide 4G service, as well as ultra high-speed fixed broadband, fixed voice and other services on the Next Generation Nationwide Broadband Network (NGNBN). With a continual focus on network quality, customer service, value and innovation, M1 links anyone and anything; anytime, anywhere. For more information, visit www.m1.com.sg.
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  • SingPost’s Q2 profit up 38.5% at S$53.4 million

    SingPost’s Q2 profit up 38.5% at S$53.4 million

    Postal services firm Singapore Post (SingPost) yesterday reported a 38.5 per cent surge in net profit for its fiscal second quarter, boosted by divestment gains and continued growth in its logistics and e-commerce businesses.

    Net profit amounted to S$53.4 million for the three months ended Sept 30, up from S$38.6 million in the corresponding period a year earlier, SingPost said. Revenue increased 19.4 per cent year-on-year to S$263.2 million.

    The nation’s postman said revenue from its traditional mail business dropped by 5.6 per cent year-on-year to S$116.5 million, following the divestment of DataPost. Excluding the impact of the divestment, mail revenue remained stable, said SingPost.

    Logistics revenue rose by 43.3 per cent to S$156.1 million on the back of growing contributions from e-commerce activities and the inclusion of new subsidiaries. Revenue from the retail and e-commerce segment was 7.1 per cent higher at S$23.9 million.

    SingPost chief executive Wolfgang Baier said the company will continue its push into the two areas of logistics and e-commerce to drive growth. “Mail volumes are coming down domestically and regionally, and we look at other fronts to compensate,” he said.

    Last week, SingPost unveiled plans to develop, by mid-2017, a S$150 million e-commerce retail mall, a Singapore first that will combine bricks-and-mortar shops and online shopping.

    Other key developments in recent months included Alibaba buying an additional 5 per cent stake in SingPost for S$187.1 million to raise its shareholding to 14.5 per cent. The Chinese e-commerce giant also announced it would invest up to S$92 million for a 34 per cent stake in Quantium Solutions International, a SingPost subsidiary that provides e-commerce logistics in the Asia-Pacific region.

    In September, SingPost used a drone to deliver a packet containing a letter and a T-shirt from Lorong Halus to Pulau Ubin in about five minutes.

    It said the trial marked the first time a postal service in the world had successfully used an unmanned aerial vehicle for “point-to-point recipient-authenticated mail delivery”.

    In October, SingPost entered into conditional agreements to acquire majority stakes in logistics provider Jagged Peak and end-to-end e-commerce firm TradeGlobal Holdings for about S$22.5 million and S$236 million, respectively. “As SingPost continues its transformation to build a strong second wing in the e-commerce logistics space, the focus in the coming months will be on post-merger integration and extracting synergies from its new acquisitions,” the group said.

    SingPost shares fell 0.3 per cent to close at S$1.89 yesterday ahead of the results announcement. Angela Teng