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Tag: Singapore

  • Clarins opens first kiosk-style store in Singapore

    Clarins opens first kiosk-style store in Singapore

    French beauty brand Clarins has opened its first kiosk-style concept store in Singapore, its fourth boutique in the city.

    Located in the heart of the Nex shopping center, the store occupies just 20sqm, but offers a wide range of products, including the Clarins hero product Double Serum and the V Shaping Facial Liftline.

    To celebrate the opening, the store introduced the brand’s Clarins Scented Collection which is made from plant ingredients and available in a series of products, including foaming gel, body lotion, home fragrance, and scented candles.

    “The new Clarins kiosk at Nex is perfect for time-strapped shoppers who appreciate the convenience of grab-and-go,” the company said in a statement.

    Clarins operates stores in more than 140 countries including Mainland China, India, Japan, and South Korea.

  • Decathlon store replaces old Metro at Singapore’s Orchard Rd

    Decathlon store replaces old Metro at Singapore’s Orchard Rd

    Decathlon Singapore is opening a new experience store in Orchard Rd, the brand’s fifth experience store in the city.

    Located at the Centrepoint shopping mall, Decathlon Orchard spans two floors, occupying a 3200sqm area. The store will feature some 5000 products spanning more than 50 sports.

    In the new Decathlon Singapore experience store, customers will be able to test products before purchasing with in-store “innovative solutions”. According to the company, the store will feature several interactive concepts including virtual reality test zones and free sport events

    Based on the photos the brand has shared on their social media channels, the fit-out process is still underway, but the store is scheduled to open on September 12.

    The new Decathlon store location takes up space previously leased to the Metro department store.

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  • Juwai IQI, Southeast Asia’s Largest Proptech Group, Expands into Singapore

    Juwai IQI, Southeast Asia’s Largest Proptech Group, Expands into Singapore

    Singapore’s third-largest real estate company, with more than 4,300 agents, OrangeTee & Tie Pte Ltd (“OTT”), has entered into a strategic partnership with Juwai IQI, Southeast Asia’s largest proptech group and operator of real estate super-brands, Juwai and IQI Global. By joining forces, Juwai IQI and OTT will open up new opportunities for their combined force of more than 15,000 property agents across Asia, Australia, Canada, and the Middle East to better serve buyers, sellers and developers.

    Juwai IQI’s operations currently comprise Juwai.com, China’s largest online marketplace for overseas properties; Juwai.asia, the sole global property portal for Asia-based buyers and IQI Global, owner of Southeast Asia’s largest real estate network even prior to the partnership.

    OTT is currently marketing more than 70 developer projects in Singapore. The tie-up with Juwai IQI will provide Singapore developers with a single, end-to-end solution for marketing and selling their new homes to buyers locally and around the world. The combined network will also ensure that Singaporean buyers of overseas properties have access to more than 2.8 million property listings in 91 countries, as well as dedicated after-sales service by local agents in the countries of investment.

    With the COVID-19 pandemic having accelerated the industry’s rate of technological change, another key benefit of the partnership is the opportunity to combine both companies’ technological infrastructure to better support the combined network of agents and clients.

    Steven Tan, Managing Director of OTT, said, “At the heart of our culture is collaboration and innovation and we are delighted that Juwai IQI shares the same values and prioritizes the use of technology to leverage growth and improve client service. Both are technology companies as much as real estate companies. Integrating our platforms and working jointly to build new capabilities will increase delivery speed and allow new features to be rolled out at a faster pace. The fact that Juwai IQI is the leading player in real estate technology is the icing on the cake for us.

    “OTT’s position as a strategic partner of Juwai IQI will serve to connect overseas-based property buyers with Singapore’s real estate offerings and vice versa.”

    Daniel Ho, Group Managing Director of IQI Global, said, “We are tremendously pleased to welcome the OrangeTee & Tie team to Juwai IQI. Steven Tan is one of the stars of Singapore’s real estate industry.

    “This tie-up will allow our agents to help Singapore-based buyers purchase real estate in any of the 91 countries from which we market the property. On the other hand, the expansion also makes it easier for us to help investors from other countries who want to own real estate in Singapore, which is one of the most popular destination markets in the region.

    “Now with our combined force of more than 15,000 agents, we can look forward to many joint-collaborations to empower agents to better assist their buyers in landing their dream property, locally and globally.”

    Kashif Ansari, IQI Global Group CEO, said, “We are pleased to announce that IQI is now in Singapore. Buyers from China, Malaysia, India, and South East Asia are leading investors in Singapore, and we have a very strong presence and network in each of these locations. Together, we will be able to cater to buyers investing in Singapore as well as take Singapore to the world.”

    Juwai IQI Executive Chairman Georg Chmiel said, “With Steven Tan and everyone at OrangeTee & Tie, our IQI agent network has the benefit of one of Singapore’s very best teams.

    “One key to success during the pandemic has been the rapid adoption of new technology. We have deployed technologies that improve agent productivity, enable remote property marketing and relationship building and give developers an end-to-end solution in advertising and selling their listings. We are now well-positioned to help both buyers and developers in Singapore to discover new markets, just like we already do across Asia.”

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  • Singtel and Great Eastern partner to offer general insurance products with telco-centric benefits

    Singtel and Great Eastern partner to offer general insurance products with telco-centric benefits

    Singtel and Great Eastern today announced their partnership to launch a range of general insurance products spanning home, motor and travel, jointly developed by both companies. These innovative insurance offerings, underwritten by Great Eastern, seek to address customer needs arising from their increasingly digital lifestyles, featuring telco-centric benefits that are industry firsts. This collaboration expands Singtel’s foray into insurance, tapping its wide customer base to reach more than 60% of all households in Singapore, and valuable customer insights that help tailor insurance products to customers’ lifestyle needs.

    To start, Singtel and Great Eastern will be introducing Singtel Home Protect, a home insurance first that provides coverage for both telco bills and home contents. The plan reimburses Singtel broadband expenses besides covering renovation, furniture, appliances, valuables and personal effects, which most home owners do not insure today. Insurance that bundles both home contents and broadband is synergistic, as home owners typically sign up for or re-contract their broadband services when they shift or renovate their homes.

    Mr Yuen Kuan Moon, CEO of Consumer Singapore at Singtel said, “With the shift to work from home since the onset of COVID-19, many people have made home improvements to create a more conducive environment. This makes protecting their homes with Singtel Home Protect more important than ever. On top of better coverage for home belongings, we want to give our customers additional peace of mind by providing extra protection for their telco bills. We’ve worked closely with Great Eastern to enhance traditional insurance with the kind of telco benefits that speak to our reliance on technology and this will also be extended to motor and travel insurance.”

    In the coming weeks, Singtel and Great Eastern will also be offering car owners motor insurance. For travellers keen to tour the world once more travel restrictions lift, Singtel will be introducing travel insurance with mobile-related benefits. This is another first in Singapore as it includes unique benefits such as reimbursement of Singtel mobile bill during hospitalization due to an accident, and of additional Singtel mobile data expenses incurred due to delays in travel, as well as repair or replacement of mobile phone in case of loss.

    Mr Ryan Cheong, Managing Director of Digital for Business, Great Eastern, said, “The partnership with a trusted telco like Singtel is yet another milestone in our digital affinity strategy and expansion into new customer segments as a leading regional insurer. To provide value-added protection to augment Singtel’s existing customer offer, we leveraged data insights to develop affordable, relevant general insurance solutions with unique benefits to help protect their everyday needs. Through continuous engagement and a seamless consumer purchase journey, we are making customized protection solutions easily accessible to Singtel customers to LifeProof their assets through home, and later motor and travel insurance.”

    Singtel Home Protect is offered to Singtel broadband customers at launch and will be made available to all Singtel customers later. For as low as S$6.50 a month, they can sign up for the plan on the Singtel website or through My Singtel app. The plan covers reimbursement of Singtel bills of S$280 per month for up to three months, and up to S$80,000 for home contents and renovation in the event of a disruption to services due to a fire or other types of damage to the home. Available for S$84 for 12 months of coverage, or S$156 for 24 months of coverage, customers can enjoy 10% off Home Protect from now until 18 September 2020. For more details, visit singtel.com/homeprotect.

    The launch of these general insurance products adds to Singtel’s expanding range of insurance offerings for its customers. Singtel first made its foray into the local insurance market last July, when it launched free personal insurance cover for its prepaid customers as part of mobile data plans. Earlier in the year, Singtel extended free 30-day COVID-19 insurance coverage to prepaid and Dash customers. Singtel also introduced an insurance savings plan for Dash customers who wish to start saving regularly for the future.

  • Fintech Lightnet Partners Swiss Crypto Bank

    Fintech Lightnet Partners Swiss Crypto Bank

    The Singapore joint venture will serve both retail and institutional investors from the globe with a more transparent and secure settlement solution.

    Bangkok-based fintech Lightnet’s partnership with SEBA will strengthen its remittance settlement capabilities and provide a seamless, secure and accessible bridge between digital and traditional assets, as it sets its sights on the region’s remittance market.

    Under the memorandum of understanding signed by both parties, SEBA will serve as the banking counterparty for the Lightnet Group, enabling settlements, correspondences and remittances in both fiat and digital currencies, an announcement on Tuesday said. Zug-based SEBA will also act as an alternative settlement banking network, account and custodian as well as the settlement bank for money transfer operators (MTOs) in digital currencies.

    Asia is a promising market not only because of its size but especially because of the affinity of the people towards digital services and digital assets, Matthew Alexander, head of asset tokenization of Seba Bank, said about the partnership.

    Lightnet said it will use a blockchain financial protocol developed by Velo Labs, a decentralized credit and settlement network in Asia, to transform remittance services for the millions of unbanked migrant workers across Southeast Asia, which is currently characterized by high transaction fees, fragmentation and unreliable payment routes.

    The company said it also plans to introduce multi-currency virtual accounts to address the inefficiencies of global trade finance.

    Lightnet was co-founded in 2018 by Chatchaval Jiaravanon – a family member of the Charoen Pokphand group in Thailand – and tech entrepreneur and former investment banker Tridbodi Arunanondchai. Earlier this year, the startup raised $31.2 million in a Series A funding round led by UOB Venture Management, the private equity unit of UOB Bank.

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  • The Body Shop Singapore introduces ‘Activist’ store

    The Body Shop Singapore introduces ‘Activist’ store

    Cosmetics & skincare retailer The Body Shop is launching an “activist workshop” store in Singapore at the Ion Orchard shopping center.

    Building on the brand’s reputation for being environmentally aware and natural, the store has been transformed into an interactive ‘activist workshop’ that encourages visitors to explore and recycle products.

    The store features sustainable fixtures of reclaimed wood and recycled plastics as well as low-energy-footprint zinc cladding and worktop surfaces made from material otherwise destined for landfills.

    Features exclusive to the outlet include a DIY gifting station, a cruelty-free fragrance collection, and a water station, as well as an ‘activist bay’ where visitors can take inspiration from the brand’s campaigns.

  • AirAsia resumes KL-Singapore flights under RGL scheme

    AirAsia resumes KL-Singapore flights under RGL scheme

    AirAsia resumed its Kuala Lumpur to Singapore flights today, allowing cross-border travel for essential and official travellers, following the implementation the Reciprocal Green Lane (RGL) scheme by both countries.

    AirAsia Malaysia CEO Riad Asmat said both countries have taken relentless efforts and strict discipline in containing the spread of Covid-19, and the RGL is a first step towards reviving the economy, especially for those who have essential travel needs between both countries.

    “We look forward to seeing more ‘travel bubbles’ and ‘green lanes’ formed between countries with low infection rates or active cases, and proven pandemic curbing systems to facilitate the need for air travel.

    “At the same time, we urge all guests to adhere to the required regulations and follow the safety measures for a safe flying journey,” he said in a statement today.

    The flight departed from klia2 today at 11.50am to Changi International Airport, and returned to klia2 at 2.35pm.

    He said AirAsia will continue to review the suitability of introducing more frequencies between the two countries.

    “AirAsia would like to remind guests of travel requirements set by both countries under the RGL scheme, all inbound and outbound travellers for essential business and official travel between Malaysia and Singapore via the RGL are required to check their eligibility and travel requirements before their scheduled departure,” he said.

    More information on the matter is available on AirAsia’s Travel Requirements page.

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  • Foot Locker launches Singapore’s largest store on Orchard Rd

    Foot Locker launches Singapore’s largest store on Orchard Rd

    Foot Locker Singapore has opened its largest store yet on Orchard Rd, celebrating basketball culture.

    Located at Orchard Gateway @Emerald, the Foot Locker store spans five stories, three of which are retail spaces, offering a multi-branded basketball collection.

    Foot Locker Singapore also partnered with local artists MessyMsxi and Clogtwo to feature artworks at both Level 1 and the B2 basketball half-court, expressing the brand’s appreciation for basketball culture.

    “This is where we embarked on our Asia journey and Singapore has really embraced our brand out of the gate,” said Tomas Petersson, GM, and VP at Foot Locker Asia. “Our purpose is to inspire and empower youth culture and our belief is that when we speak to the consumer through the lens of curated brand and product stories via our omnichannel focus, then we connect deeply with the Sneaker and Sport community.”

    Besides basketball collections, Foot Locker Orchard also features a wide range of footwear and apparel from global brands, including Nike, Jordan, Adidas, Puma and New Balance.

    “The Orchard Road store is a pinnacle expression of our brand together with our partners and we are especially proud as a team to deliver this in these challenging times, as this will give the Singaporean consumer a truly unique experience,” said Petersson.

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  • OCBC Partners Asset Manager for New Fund

    OCBC Partners Asset Manager for New Fund

    The co-branded solution to address investor needs during times of stress and uncertainty and has a built-in dollar-cost averaging feature. French asset manager Amundi and OCBC Bank on Wednesday announced the launch of the Amundi-OCBC Momentum Fund – a mixed-asset product that invests in global bonds and equity ETFs.

    According to its prospectus, the Momentum Fund lets the portfolio manager initiate dollar-cost averaging for the investor. The fund leverages the cost-averaging effect when it systematically allocates assets from an initial pool of fixed income securities to equity ETFs, which helps to average out the costs of investing into equities and position the fund for a potential equity market recovery. Investors are also paid a quarterly dividend of up to 3 percent per annum.

    The fund is the first co-branded tie-up between the two partners, though OCBC has been distributing four other products from Amundi, according to the bank’s website.

    Investors should stay invested in the market and not wait for blue skies. They should manage risk by investing carefully and staying diversified across asset classes and by taking on risk gradually over time through regular investments – in other words – dollar-cost averaging. This can benefit investors by potentially lowering the average cost per unit of an investment, especially during times of volatility, Tan Siew Lee, OCBC’s head of wealth management, Singapore, said about the new fund.

    The bank noted the benefits of a multi-asset strategy in an uncertain economic environment, as it provides relative stability over equities. The fund has a target allocation of 50 percent global bonds and 50 percent global equity ETFs, with a maximum of 25 percent into non-investment grade bonds.

    DBS Bank also recently launched a multi-asset fund with Schroders that includes a unique decumulation share class targeted at retiree investors, with exposure to a range of investment growth themes across Asia.

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  • Amazon expands anti-counterfeit project to Singapore

    Amazon expands anti-counterfeit project to Singapore

    Amazon has expanded its anti-counterfeit program Project Zero to seven new countries, including Singapore and Australia, taking the number of operational territories to 17.

    The project combines Amazon’s technologies with brands’ knowledge of their own intellectual property to counter the trade in forged products. The system works by scanning the more than 5 billion attempted daily product listings on Amazon for suspicious products, using a machine-learning algorithm that is constantly improving.

    Project Zero also provides a self-service tool allowing brands to directly remove counterfeit goods listings from Amazon stores.

    More than 10,000 brands have already enrolled in the initiative.

    “Amazon is committed to protecting our customers and the brands we collaborate with worldwide,” said the firm’s VP of worldwide customer trust and partner support Dharmesh Mehta.

    “Project Zero has been a leap forward in protecting brands, especially for those that use all three of its components.”

    Brands currently using Project Zero that already have a trademark enrolled in one of the newly added countries can use it automatically in their additional stores.

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  • SGX to Expand Equity Derivatives Shelf

    SGX to Expand Equity Derivatives Shelf

    The bourse is adding 13 Asia ex-Japan and emerging markets Asia regional and single country futures to its shelf of benchmark equity derivatives.

    The new futures are based on Net Total Return (NTR) and Price Return indices calculated by FTSE Russell, which has approximately $16 trillion in reported fund assets under management (AUM) tracking its benchmarks.

    SGX said the benchmarks of the new future, which cover Indonesia, Malaysia, Philippines, Taiwan, Thailand, and Vietnam, addresses customers’ «increasing demand for institutional-grade exchange solutions in Asia which offer superior operational and capital efficiency.»

    The new contracts are expected to be certified by the Commodity Futures Trading Commission (CFTC), enabling US investors to trade them directly from within the U.S.

    SGX currently has the largest and most liquid FTSE and MSCI equity index derivatives for Asian markets.

    Michael Syn, head of equities at SGX, said its collaboration with FTSE Russell is the «next step in further developing and advancing SGX’s Asia-access waterfront.»

    «We look forward to bringing investors even more asset-class opportunities within the pan-Asian capital structure, based on broad strategies, sectors, and themes,» Syn said.

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  • SingPost Partners with Tech Startup Shippit to Fuel Small Business Growth in Asia

    SingPost Partners with Tech Startup Shippit to Fuel Small Business Growth in Asia

    Today, fast-growing logistics technology company Shippit, announced a new partnership with Singapore Post (SingPost), Singapore’s leading homegrown e-Commerce courier. The deal allows Shippit to empower small and medium-sized enterprises (SMEs) to scale by providing them with instant access to more delivery options — including packages to be delivered directly to Pick Own Parcel Station (POPStations) and letterboxes — a service typically reserved for larger companies. As part of the deal, Shippit will also offer SingPost’s Speedpost Express Service to SMEs, alongside discounted, pre-negotiated rates for next day and economy delivery services.

    SMEs on the Shippit platform will now be able to also offer end-customers parcel collection at any time by tapping into the islandwide POPStation network that SingPost currently operates. This brings added convenience to end customers, since parcels can be deposited directly at their closest available POPStation for pickup, without the need to wait for delivery at home.

    These SingPost services are integrated directly into Shippit’s existing online platform, which enables SMEs to access data-driven delivery insights that can be used to optimize shipping costs and share better customer experiences. SMEs also get access to pre-negotiated, delivery SingPost rates on the platform, enabling them to tap into SingPost’s large delivery network and fleet, at a lower cost.

    Lavneesh Arora, Director of Market Development at Shippit, said: “Shippit aims to disrupt the way legacy logistics firms operate. We are always looking for great partnerships to expand our capabilities and give clients a competitive edge. Through the latest partnership with Singapore’s largest and most prominent logistics company, SMEs can use Shippit to get direct access to SingPost’s premium, enterprise-grade delivery services at a fraction of the cost.”

    Shippit’s intelligent tracking system benefits both senders and receivers through proactive delay avoidance technology and accurate delivery estimates — SMEs will know exactly where the parcel is, ensure delivery issues are resolved before customers find out and can also send branded push emails and SMSes to keep their customers informed. On the receiver’s end, one-link tracking and smart notifications are automated, so customers can easily track their shipment, get real-time updates and access delivery support directly from the track page.

    Sara Kalle, Senior Vice President of Group Sales at SingPost, said: “We are tremendously excited to offer our last-mile services to Shippit. Customers can look forward to a hassle-free shipping experience from the moment they confirm their order on Shippit’s award-winning platform, to collecting their shipments from us at their doors or at a nearby POPStation.”

    Shippit officially launched in Singapore on 14 July, to serve as the startup’s regional headquarters. It plans to expand into Malaysia, Philippines, and Indonesia in the near future. Shippit’s existing client base currently includes Sephora, UNIQLO, CottonOn, and Harvey Norman — to name a few.

     

     

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  • New retail brands join line-up at The Shoppes at Marina Bay Sands

    New retail brands join line-up at The Shoppes at Marina Bay Sands

    The Shoppes at Marina Bay Sands has revealed a list of store openings and new brands for the shopping center this year.

    In the childrenswear category, Italian label Monnalisa has opened its first Southeast Asian standalone store, following the opening of Fila Kids last month.

    The Shoppes at Marina Bay Sands has also announced a plan by British luxury fashion house Alexander McQueen to refurbish its retail store. Relocated in the center, the new store will occupy a 3300sqft space, three times the size of its existing outlet, and featuring a new-generation store design. It is scheduled to re-open at the end of this year.

    Watch and jewelry brands to join The Shoppes include Japan’s Ahkah (this month) and Chinese label Qeelin whose first Singapore store will open later this year.

    High-end luxury Korean skincare brand Su:m37 will launch its first standalone kiosk and a skincare line in Singapore in the fourth quarter of this year.

    In the food & beverage category, renowned Chinese restaurant Putien is to join The Shoppes dining options early next year, taking up space previously occupied by the DC Comics SuperHeroes cafe.

  • Singapore Director Charged in Wirecard Scandal

    Singapore Director Charged in Wirecard Scandal

    A Singaporean director of Citadelle Corporate Services has been charged for falsifying letters related to Wirecard.

    R. Shanmugaratnam, a director of Citadelle, has been charged by Singapore authorities for «willfully and with intent to defraud» falsifying letters from Citadelle to Wirecard representing that it held money in an escrow account when it did not, as reported on Friday.

    The 54-year-old Singaporean is the first person to be indicted in Singapore over the collapse of Wirecard the report said, according to charge sheets filed last month, which were viewed by the news wire. He faces four charges of false statements, each of which carries a maximum 10-year jail term.

    Citadelle has been under scrutiny in the Philippines since a Filipino lawyer said he opened six euro bank accounts in the name of his law firm, MKT Law, on behalf of Citadelle. The accounts were supposedly for Wirecard.

    According to a previous report on July 3, Singapore Police Force’s (SPF) Commercial Affairs Department (CAD), which deals with white-collar crimes, launched an investigation into Citadelle, payments operator Senjo Group and its subsidiaries after scrutinizing Wirecard’s local operations.

    Wirecard is at the center of one of the region’s biggest corporate accounting scandals in recent years, having admitted that €1.9 billion is missing from its financial accounts.

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