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Tag: Singapore

  • Thales Singapore names new country head

    Thales Singapore names new country head

    Tech company Thales has appointed Emily Tan as country director for Thales Singapore and as CEO for Thales Solutions Asia Pte Ltd, effective 1 September 2022.

    The Singaporean native, who spent 14 years with Shell assuming leadership roles, will oversee the 2,000-strong Thales team across three sites in the city-state, including the Group’s Digital Identity & Security manufacturing centre located at Ayer Rajah Crescent and the Group’s largest avionics production and MRO facility at Changi North Rise.

    Emily started her career with the Singapore Economic Development Board (EDB), bringing a keen understanding of the public sector. She spent three years as director in London, and later as head of international policy and lead negotiator for international trade agreements.

    She will succeed Kevin Chow who will continue his career in a senior leadership role at Thales’ Airspace Mobility Solutions business in France.

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  • Taiwan’s Miracle Coffee to launch in Singapore

    Taiwan’s Miracle Coffee to launch in Singapore

    Miracle Coffee will launch a 90-day pop-up café kiosk at the ArtScience Museum in Singapore’s Marina Bay Sands by the end of September 2022, ahead of a brick-and-mortar store launch in the museum’s lobby next year.

    Miracle Coffee said the kiosk will only serve beverages, including an exclusive for the location called Kaya Cloud. Further menu items and prices for the Singapore outlet are yet to be announced.

    Miracle coffee currently operates three stores in Taipei, Taiwan, and one in Shanghai, China.

    “I am thrilled to team up with Marina Bay Sands to bring Miracle Coffee to my home, Singapore. Since this is our first time setting up a pop-up for Miracle Coffee, we wanted a scenic location that can stage the intimate scene of coffee lovers revelling in a smooth cup of coffee while soaking in views of my beautiful city. There is no other location that is more suitable than the iconic ArtScience Museum,” said JJ Lin.

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  • Singapore-based 99 Group considers buying Vietnam’s Propzy

    Singapore-based 99 Group considers buying Vietnam’s Propzy

    Singapore-based property platform 99 Group is reported to be exploring options to purchase Vietnamese proptech startup Propzy.

    Propzy is one of a dozen potential targets in Southeast Asia for the group, signaling its intention to expand after raising $37 million in a round led by Gaw Capital.

    But the deal is currently in “very early stages” and carries “a lot of uncertainties,” Tech in Asia quoted an insider source.

    Any acquisition would require a detailed processes and due diligence, one of the sources told StreetDealAsia.

    In June, Propzy dissolved a Vietnamese legal entity related to its direct sales staff and laid off 50% of its employees to restructure its business model following the Covid-19 pandemic.

    It has raised a total of $33 million from 11 investors, according to data from startup database Crunchbase. In 2020, it closed a $25 million series A round led by Softbank Ventures Asia and Gaw Capital Partners.

    Founded in 2016, Propzy’s technology covers almost every stage of a real estate transaction, from brick-and-mortar sales centers to an online marketplace for listings, as well as enterprise software for property managers and tenants.

    99 Group was founded in 2019, and is operating four property platforms across Singapore and Indonesia: 99.co, Rumah123, iProperty, and SRX.

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  • Singapore retail sales continue to recover

    Singapore retail sales continue to recover

    Singapore retail sales continued their rebound in July, rising 18.1 per cent year on year, excluding motor vehicles.

    That followed a 19.9 per cent increase in June, both months reflecting the low base of a year earlier when Covid restrictions on border crossings and retail trading impacted shopping.

    The fastest-growing category was apparel and footwear which surged 68.3 per cent, largely due to handbags and footwear. Sales of food and alcohol, trade through department stores, and sales of watches and jewellery increased by between 41.7 and 53.1 per cent.

    Retail sales (excluding motor vehicles) in July were estimated at S$3.4 billion, of which online sales comprised 14.3 per cent, a similar level to June. Online sales of computer and telecommunications equipment accounted for 49 per cent of the category’s turnover, while 28.9 per cent of furniture and household equipment spending was online, and 14.8 per cent of supermarket sales.

    Meanwhile, sales of food and beverage services grew by 41.9 per cent in July, following June’s 59.1 per cent increase. The significant growth was due to the low base in July last year when restrictions on dining-in at restaurants and cafes were in place.

    Food and beverage service sales reached $939 million in July, of which online ordering accounted for 26.2 per cent.

  • Hermes reseller Ginza Xiaoma makes its Singapore debut

    Hermes reseller Ginza Xiaoma makes its Singapore debut

    Ginza Xiaoma, the Japanese authorised partner of French luxury brand Hermes, has opened its first boutique in Singapore, its third globally. Located on Orchard Road, the 240sqm store follows a flagship in the Ginza Tokyo, and a Hong Kong boutique.

    Founded in 2015, Ginza Xiaoma has almost 10 years of experience buying, consigning, selling, and trading-in Hermes handbags and accessories.

    According to the company, customers can purchase Hermes handbags at the Singapore store, which offers the region’s largest selection of rare Hermes handbags, including a Sterling Silver Kelly 15, Diamond Himalaya Kelly 28, and Birkin Faubourg.

    Ginza Xiaoma Singapore also hosts the region’s private buyer-only online Hermes auctions and allows individuals to consign their bags. The company says it will introduce NFT auctions and blockchain proof of authenticity in future.

    “We’d already established some strong relationships with local collectors and knew there was an appetite for Hermes resellers,” said a Ginza Xiaoma executive.

    “Singapore is rich with stylish, affluent luxury lovers, but there are a limited number of high-end resellers catering to them.”

    As reported by Statista, Singapore’s luxury fashion industry will generate $770 million in revenue this year. The market is anticipated to increase by 4.79 per cent annually (CAGR from 2022-2027).

  • Swiss watch brand Norqain opens first store in Asia

    Swiss watch brand Norqain opens first store in Asia

    Swiss-made watch brand Norqain has made its debut in Singapore, as part of an expansion into the Asia market.  The watch retailer has collaborated with Southeast Asia distributor Melchers, a Singapore branch of Melchers Group, for the launch. This is also the brand’s second global flagship store after the first opened in Zermatt, Switzerland, last year.  Norqain says the new store, located on Orchard Road, aims to replicate the feeling of the Swiss Alps, features an original ski-lift ch

    Norqain says the new store, located on Orchard Road, aims to replicate the feeling of the Swiss Alps, features an original ski-lift chair from Zermatt.

    The store’s interior was inspired by the Swiss Alps, with black, blue, and white as the primary colours running throughout the space. There is also a wooden bar inside the store.

    Norqain says on its Instagram that it wants to convey to customers “a real feel for the Norqain world and the Norqainer spirit”.

    The family-owned Swiss watch company is based in Nidau (Bienne), the heart of the Swiss watch industry. Founded in 2018, it makes mechanical automatic watches designed in-house.

    Jean-Claude Biver, a well-known Luxembourgish-Swiss watchmaker who used to serve as president of the LVMH Watch Division, announced in June that he would join Norqain’s board as an advisor.

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  • M1 Debuts 5G Offshore Coverage for Singapore’s Southern Coast

    M1 Debuts 5G Offshore Coverage for Singapore’s Southern Coast

    M1 Limited has announced that it will undertake an ambitious multi-year project that aims to provide ubiquitous 5G standalone (SA) offshore coverage for the southern coast of Singapore, including the surrounding waters of the southern islands.

    Extending 5G offshore coverage enhances connectivity in the larger maritime ecosystem and unlocks new use cases and applications. This is an important step in the maritime industry’s digital transformation efforts and its goal of becoming the next engine of growth for Singapore.

    In collaboration with, and with co-funding from, the Maritime and Port Authority of Singapore (MPA) and the Infocomm Media Development Authority (IMDA), M1 will provide a 5G standalone (SA) network to trial, develop and deploy new maritime 5G use cases under the IMDA Innovation and Ecosystem Testbed Programme and the MPA Innovation Lab – making this the world’s first public and largest maritime testbed at sea.

    The potential 5G use cases are targeted at enhancing the efficiency and safety of maritime operations and management. The use of 5G connectivity includes telemedicine to enable crew welfare at sea, delivery drones, maritime surveillance, and autonomous vessels as well as remotely controlled task-based robots, such as ship inspection and autonomous fire-fighting robots, that are used for more dangerous and labor-intensive tasks.

    “The launch of M1’s 5G standalone network provides low-latency, responsive, secured and high-throughput mobile connectivity to ensure more precise and reliable communications between the ships and the port. 5G has the capability to resolve long-standing pain points, and it will become the natural technology of choice for the maritime industry. As the first country to extend 5G standalone coverage to sea for maritime operations, M1 is excited to partner  MPA and IMDA to co-develop 5G solutions that will not only transform the industry but benefit the whole of Singapore’s maritime economy,” said Manjot Singh Mann, CEO of M1.

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  • Singapore-based e-commerce firm Qoo10 to acquire Tmon

    Singapore-based e-commerce firm Qoo10 to acquire Tmon

    Singapore-based e-commerce firm Qoo10 plans to acquire TMON through a stock swap deal, industry sources said Thursday.

    TMON’s two major shareholders — Anchor Equity Partners and Kohlberg Kravis Roberts & Co. — have agreed on the stock swap deal with Qoo10, according to the sources.

    Under the deal, the two shareholders will trade their 81.74 percent stake in TMON with new shares issued by Qoo10’s logistics affiliate, Qxpress. The remaining amount will be paid in cash, sources said.

    The remaining stake in TMON is owned by a consortium led by Poongsung Group, a Korean car parts maker.

    Qoo10 is also pushing to buy ecommerce platform Interpark from travel platform operator Yanolja, which bought a 70 percent stake in Interpark worth some 294 billion won ($220 million).

    Based in Singapore, Qoo10 is an ecommerce platform founded by eBay and GMarket founder Koo young-bae. The site operates localized marketplaces across five Southeast Asian countries, including Indonesia, China, Hong Kong and Malaysia.

    Its affiliate, Qxpress, reported around 150 billion won in sales in 2020. It is pushing for an initial public offering on the tech-heavy Nasdaq, and is currently under review by the U.S. Securities and Exchange Commission.

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  • M1 Onboards ZΩH as New MVNO Partner

    M1 Onboards ZΩH as New MVNO Partner

    M1 has announced ZΩH as its latest Mobile Virtual Network Operator (MVNO) partner. As a telecommunication service offering from enterprise network and ICT provider Lifeway Singapore, ZΩH will leverage M1’s advanced mobile network infrastructure to offer mobile services specifically to enterprise customers.

    ZΩH provides a diverse range of mobile and data roaming plans to corporate as well as SMEs. For M1, the collaboration gives it access to ZΩH’s customer base and enables the telco to expand its reach within the enterprise ecosystem.

    “M1 is proud to be the platform of choice for MVNOs in Singapore. We are delighted to be hosting ZΩH’s services on our network and ensuring that their customers are able to receive excellent coverage, reliability and speed. With our 5G roll-out, we look forward to supporting ZΩH’s enterprise customers and bringing state-of-the-art features to them,” said Alen Ng, head, corporate development, M1.

    “Partnering with M1 is an exciting step forward for Lifeway Singapore, to broaden customer reach and footprint as well as to improve customer experience in today’s digital world. Beyond that, the partnership gives us an opportunity to provide exciting offers and innovative bundles to meet customers’ specific needs,” added head of sales & marketing, Chris Loh, Lifeway Singapore.

    M1 continues to support MVNOs with new and unique value propositions that add to the telco industry’s overall development and infrastructure. M1 is the first telco in Singapore to establish a series of successful partnerships with MNVOs, beginning with Circles.Life in 2015 and more recently with Changi Recommends, MyRepublic and Geenet, enabling the MVNOs to deliver quality network services and experience.

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  • Singapore Considers More Tightening for Retail Crypto

    Singapore Considers More Tightening for Retail Crypto

    The Monetary Authority Singapore is reeling back on retail access to cryptocurrencies with the latest consideration for more curbs.

    The MAS is considering tightening crypto rules for retail investors by «adding friction» to mass access, according to managing director Ravi Menon in a speech published online. This includes the possible addition of suitability tests as well as restrictions on the use of leverage and credit.

    Market volatility this year has led a number of crypto players in the city-state to suffer including exchange Zipmex and lender Hodlnaut. In the latest, fallen Singapore hedge fund Three Arrows’ co-founder Su Zhu reemerged in public to deliver an affidavit defending himself against liquidator claims.

    Despite its concerns, Menon notes that a regulatory ban is not a viable option as it is «not likely to work».

    The cryptocurrency world is borderless. With just a mobile phone, Singaporeans have access to any number of crypto exchanges in the world and can buy or sell any number of cryptocurrencies, Menon said in the opening address of a seminar held today.

    Singapore continues to rethink mass access to cryptocurrencies following guidelines issued in January to limit trading services providers from public promotion.

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  • Grab says delivery business softening, still ‘laser-focused’ on profitability

    Grab says delivery business softening, still ‘laser-focused’ on profitability

    Singapore’s Grab Holdings Ltd on Thursday slashed its gross merchandise volume (GMV) outlook for the year, blaming a strong dollar and cooling demand for food delivery services as consumers return to dining outdoors.

    U.S.-listed shares of Grab fell 16% in early trading.

    Grab and its peers recorded surging revenues during the pandemic as consumers stuck at home relied on ordering food. But as restrictions ease in most parts of Southeast Asia, consumers are heading out to grab their meals.

    “What we are seeing with some of the growth trends and consumer behavior is dining out has taken place,” Chief Executive Officer Anthony Tan told analysts.

    “Customers want to save money… they may actually show a preference to order groceries to cook for themselves.” Tan added, indicating Grab may stand to benefit from its grocery delivery business.

    The company, which operates in 480 cities in eight countries in Southeast Asia, lifted the lower end of its revenue forecast for the year and said it was “laser-focused” on profitability as demand for rideshare across Southeast Asia peaks.

    Tan said the company now plans to focus on launching new products that will help Grab focus on “profitable loyal customers” and lower the cost of serving users.

    He also expects the rideshare business to rebound as economies reopen.

    To cut costs, Grab said it would roll back incentives and promotions to lure drivers and users, exit unprofitable businesses such as its “dark stores” in some countries, and slow hiring.

    The company forecast revenue between $1.25 billion and $1.3 billion for the year, compared with its prior range of $1.2 billion and $1.3 billion.

    Grab forecast GMV growth between 21% and 25% for the year. On a constant currency basis, GMV is expected to grow between 25% and 29%, compared with its prior range of 30% and 35%.

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  • Singapore Strengthens Role as 5G Regional Innovation Hub

    Singapore Strengthens Role as 5G Regional Innovation Hub

    5G enables technologies such as AI, Digital Twin, and augmented and extended realities to seamlessly work together, a key need for businesses at the forefront of digital transformation, providing consumers with a better-quality experience. In advancing Singapore’s 5G ecosystem, the Infocomm Media Development Authority (IMDA) is working with the industry to unlock the real value of 5G by shaping new business use-cases and enabling enterprises to commercialize locally and globally.

    Lew Chuen Hong, Chief Executive, IMDA, said, “Singapore will continue to push the boundaries of innovation through frontier technologies such as 5G. We are excited to work with our industry partners to unlock the real impact of 5G. We look forward to seeing new and exciting ways 5G will benefit our businesses and consumers.”

    Three new 5G projects have been introduced to boost Singapore’s 5G ecosystem. Under IMDA’s 5G Innovation Programme, S$30 million has been set aside to accelerate the adoption and commercialization of 5G solutions.

    IMDA has announced the awarding of projects for Asia Pacific’s first 5G mobile edge computing for Mixed Reality and Holomedicine capabilities in health tech; the region’s first outdoor mass 5G-enabled cinematic quality AR experience; and Southeast Asia’s first maritime 5G augmented reality/virtual reality smart glasses solution.

    PSA continues to make waves, as the world’s first 5G mmWave port operations trial sees progress. Automated guided vehicles (AGVs) achieved a reduction in latency by 50% compared to the current 4G network. This will enable PSA to scale AGV operations at Tuas Mega Port beyond 2000 vehicles. Automated rubber tire gantry cranes (aRTG) have also seen significant stability in terms of throughput and low latency. 5G will enable PSA to completely automate its RTG operations and empower its staff for higher-value job roles and upskilling in new areas of work.

    IMDA’s partnership with Razer has also seen significant results. This first-ever mmWave trial for Razer was conducted at Ngee Ann City and Singtel’s Comcentre, and findings from this trial enabled a re-imagining of the mobile gaming experience with 5G-enabled gaming controllers.  Based on learnings from this trial, Razer has launched the Razer Kishi V2, a universal mobile gaming controller that promises a “console-class gameplay experience” for smartphones. It also launched the Razer Arctech, a heat-dissipating mobile phone cover that supports the heavy processing load required for a seamless gaming experience.

  • Indonesian fashion label Claude launches in Singapore

    Indonesian fashion label Claude launches in Singapore

    The store people have been impatiently waiting has finally arrived. The go-to IT fashion brand, Claude, has officially opened its first brick-and-mortar store at Takashimaya Shopping Centre, Singapore on July 29th, 2022.

    As it always go with Claude, they celebrated the grand opening of their 1600sqft store with flair and much grandiose. Hosted by Aimee Cheng-Bradshaw and accompanied by plenty of familiar faces and icons in the fashion and lifestyle industry from Andrea Chong, Melissa C. Koh, Nellie Lim, and Savina Chow. The famous Singapore socialite, Jamie Chua, also attended wearing Claude special Singapore collection, The Wildflower.

    “We have been receiving a lot of love from Singapore over the years,” said Christie Johana as the Co-Founder and Creative Director of Claude. “It is definitely the right step for us to finally open our first international store in our amazing and beautiful neighbour, Singapore.”

    Curved outlines, flora installation, and a splash of lilac and mint green definitely screams Claude. The Indonesian label known for its elegant dresses, pleated pieces, and its modern Gen-Z sub-brand Everyday definitely stole the show with its beautiful store. “The goal is to create an experience for everyone while touring the store and feel comfortable, relax and unwind in the massive lounge room, and taking pictures on many of the spots.”, the Creative Director said.

    This community focused brand also arranged its first ever international Claude Squad event at SPRMRKT, Dempsey Hill, just a day before the grand opening event. “One of our most important mission is to connect people who have passion for fashion, and we love to do it by hosting a gathering with our beloved Claude Squad!”, stated Christie.

    Some of people’s favourite fashion stars and fanatics were also seen during the gathering, from Iman Fandi, Hailey Teo, and so much more. To add the excitement, consumers can see all of them rocking Claude’s Singapore special collection that will be available in store, while posing in front of their beautiful garden backdrop and iconic #ClaudeSquad signage.

    With the opening of the store, The Wildflower collection is exclusively available offline before their official launch on Claude’s website on August 1st, 2022 and August 8th, 2022. Pieces vary from original prints, pleated items, and their novel knitted pieces.

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  • M1 Jointly Implements Southeast Asia’s First Maritime 5G AR/VR Smart Glasses

    M1 Jointly Implements Southeast Asia’s First Maritime 5G AR/VR Smart Glasses

    Keppel Offshore & Marine Ltd (Keppel O&M), in partnership with M1, has implemented a 5G augmented and virtual reality (AR/VR) smart glasses solution at its yard in Singapore, the first in Southeast Asia’s maritime industry. The pilot project is part of Keppel O&M’s strategy to leverage digitalization and virtual technology to enhance the efficiency of remote operations for its tech-enabled workforce. The project received a grant from IMDA’s 5G Innovation Program for the development of virtual platform solutions.

    Smart Glasses can have multiple applications. It can be deployed in different phases of a project’s construction as well as to optimize the use of resources in shipyard settings. Versatile virtual platform solutions such as smart glasses can help to improve the overall efficiency of production processes in the maritime industry.

    Equipped with a camera lens, microphone, micro speaker and cellular or WIFI reception, smart glasses are powered by leading-edge software that can perform real time analyses and provide data to the wearer. The device also enables the wearer to communicate seamlessly with a receiver or control room. Smart glasses are also equipped with a micro projector, which can project a digital overlay of text and images within the wearer’s field of vision.

    Chris Ong, CEO of Keppel O&M, said, “As a provider of leading-edge solutions for the maritime industry, Keppel O&M is pleased to partner M1 in leveraging digital technologies to enhance yard operations and safety. During the Covid-19 pandemic when safe management measures limited physical inspections and site surveys, we were the first to officially conduct remote inspections for a newbuild vessel with a classification society using smart glasses.

    “Today, we are further expanding its use to not only improve the efficiency of delivering projects and enhancing yard operations but also widening our capabilities to provide digital solutions for our customers’ assets. This is part of Keppel O&M’s Yard of the Future initiative, which harnesses digitalisation to transform our products, services, and operations.”

    Keppel O&M worked with M1 to test-bed applications for smart glasses, harnessing M1’s 5G high-speed and low latency connectivity to enable quicker and more effective responses.

    Manjot Singh Mann, CEO of M1, said, “We are pleased to collaborate with Keppel O&M to pilot 5G-enabled wearables such as smart glasses, which can help solve critical challenges in Singapore’s maritime industry.

    “Through M1’s robust 5G network, smart glasses can provide high-bandwidth immersive AR/VR environment that enables highly detailed representations and real time information to be relayed to users and control centres. The successful introduction of the smart glasses solution at Keppel O&M is a useful test case that can be scaled and replicated to boost operational efficiency and safety across businesses and industries.”

  • In Singapore, Zalora launches supermart-style pop-up with Adidas

    In Singapore, Zalora launches supermart-style pop-up with Adidas

    Zalora Group has unveiled a supermarket-inspired pop-up store in collaboration with Adidas at Bugis Junction, Singapore.  The Supermart by Zalora store is designed with a supermarket layout, featuring pop colours and Instagrammable corners. The pop up stocks more than 90 SKUs of Adidas, ranging from footwear, apparel, and accessories for men and women, and an exclusive range.  Through a ‘click-and-mortar experience’, customers visiting the store can purchase their favourite ite

    Through a ‘click-and-mortar experience’, customers visiting the store can purchase their favourite items by scanning the QR codes tagged on them and adding them to their cart on the Zalora app. The order will then be delivered to their doorstep.

    Zalora also partnered with three local artists, Hoon Jialing, Eman Raharno Jeman and Tiffany Tan, to create gift-with-purchase packaging with graphic artwork that incorporates the brand and artists’ aesthetics. Marking the launch, Zalora is also running an interactive game to further engage with its customer.

    The Supermart by Zalora will open until August 12.