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Tag: Singapore

  • Myanmar Secures First Green Loan from Singaporean Banks

    Myanmar Secures First Green Loan from Singaporean Banks

    Singaporean banks continue tapping into the growing sustainable finance market with the latest $44 million loans secured by Burmese developer Shwe Taung Group – the first in the country.

    Sole green loan advisor OCBC provided nearly $30 million with the remaining secured from UOB through the two Singaporean lenders’ Yangon branches. The $44 million loans will be used for a mixed project that includes offices, a shopping mall and the Pan Pacific Hotel.

    Green features in the project include energy-efficient systems that lower consumption such as double-glazed glass windows rooftop solar panels. The features are expected to collectively reduce energy consumption by 15-20 percent, according to a statement.

    The loan brings OCBC slightly closer to its target of constructing a S$10 billion ($7.2 billion) sustainable finance portfolio by 2022. The bank has been on a global green lending spree issuing loans for projects ranging from property development in Hong Kong to hybrid bus fleets in Australia.

    Green financing is gathering momentum across the region as companies embrace the sustainability agenda and find support in driving climate change within their businesses and industries, said Linus Goh, head of global commercial banking at OCBC which has over 60 years of history in Myanmar.

    We believe that this landmark transaction signals an important shift towards sustainability in the country at this crucial stage of economic development, and we hope it will spur other businesses to join us in this journey.

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  • Citi Singapore to Shut Iconic Branch

    Citi Singapore to Shut Iconic Branch

    As part of its network reconfiguration, Citi is shuttering its iconic branch at McDonald House on 28 February.

    For its replacement, the U.S. bank said it will soon launch a whole new and exciting retail banking branch experience after its MacDonald House lease expires at the end of this month. Details on the new branch were not revealed.

    Citi consistently reviews its branch network strategy. Clients today increasingly bank on mobile, with almost 100 percent of financial transactions being able to be served through digital platforms. Our retail footprint and the way we serve customers will continue to evolve,» said a Citibank Singapore spokesperson.

    MacDonald House, situated across the road from Dhoby Ghaut MRT station, was initially built for a bank. It became gazetted as a national monument in 2003 and has a place in Singapore’s history as the site of a bombing attack in 1965 during the Indonesia-Malaysia confrontation, or the Konfrontasi.

    Citi commenced business at the MacDonald House in 2005, taking up 37,000 sq ft of space over four floors. The 14 staff currently at the MacDonald House branch will be redeployed to the bank’s remaining 13 branches in Singapore, the Citi spokesperson added.

    The bank’s latest branch network rejig comes as part of the review led by Citibank Singapore’s new chief executive Brendan Carney, who moved to Singapore from South Korea in May last year.

    The lender’s move also comes amidst a change in the banking landscape, as 21 consortiums vie for the five digital bank licenses offered by the city-state.

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  • OCBC Automates Cooperation with Law Enforcers

    OCBC Automates Cooperation with Law Enforcers

    OCBC has implemented an automated solution that accelerates collaboration with law enforcement agencies by up to 100-fold.

    On average, it takes between 10 days and three months for banks to respond to production orders or requests by law enforcement agencies to provide information for investigation on the bank accounts of individuals or companies. With the new solution – Production Orders: Electronic Transmission (POET) – OCBC will cut turnaround time to just one or two working days with minimal manual processing assuming the information requested does not exceed 13 months.

    By greatly reducing the turnaround time for production orders, we are doing our part to put the squeeze on criminals, said Loretta Yuen, OCBC’s head of group legal and regulatory compliance.

    After a successful pilot, OCBC launched POET in collaboration with the Commercial Affairs Department (CAD) in July 2019. Since then, it has extended collaboration to other agencies including the Singapore Customs, Inland Revenue Authority of Singapore (IRAS), the Corrupt Practices Investigations Bureau (CPIB) and various units under the Singapore Police Force. It is in collaboration with more than 10 law enforcement agencies and expects about 70 percent of production orders to come through POET.

    Other banks are also considering to adopt the solution to improve compliance efficiency. In addition to DBS and UOB, the report noted that foreign banks in Singapore also expressed interest in POET.

    Collaboration with regulators aside, Yuen also highlighted the benefit of data gathered by POET for banks not only to respond to requests but to identify compliance risk early.

    We can use it as additional surveillance risk indicators, as well as in intelligence data mining and transactional link analysis to identify hidden relationships and/or clustering relationships that may pose money laundering risks to the bank, Yuen said.

    On average, OCBC receives more than 1,000 production orders per month from law enforcement agencies and the figure is projected to rise in the coming years.

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  • SGX Grows Index Business

    SGX Grows Index Business

    The strategic investment will help the growth of its Data, Connectivity and Indices (DCI) business by strengthening its research-based index design capabilities as well as broaden the range of index products and clientele.

    Singapore Exchange (SGX) has paid €186 million ($204.83 million) in cash for a 93-percent stake in independent index provider Scientific Data, it announced in a press release.

    The Singapore-based company, established by EDHEC-Risk Institute (ERI Asia), an affiliate of EDHEC Business School, specializes in smart beta strategies – investment strategies that emphasize the use of alternative index construction rules instead of traditional market capitalization-based indices – with expertise in factor-based and risk-managed solutions.

    Scientific Beta is a well-known brand among asset owners worldwide. Over 60 asset owners and asset managers use its indices to track or benchmark their smart beta investments, which total almost $55 billion. This figure that has grown more than tenfold in less than four years, with 30 percent of these assets under replication integrating ESG dimensions, the announcement said.

    SGX CEO Loh Boon Chye called the acquisition «an important step» in the evolution of the firm’s index business. «Besides being complementary to our existing SGX Index Edge thematic and custom index capabilities, we also see new product opportunities based on Scientific Beta’s indices.»

    In the announcement, SGX noted the «significant growth» in factor investing in recent years. It cited BlackRock data that assets using factor-based strategies are forecast to reach $2.7 trillion by 2020, at a compound annual growth rate of 17 percent between 2011 and 2020.

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  • Singapore Helps Global Crypto Firms To Expand

    Singapore Helps Global Crypto Firms To Expand

    Singapore has introduced new payment legislation that offers global cryptocurrency firms a chance to expand their operations in the country. The Payment Services Act, which comes into force on Tuesday, is the first comprehensive regulation for companies handling activities ranging from digital payments to the trading of tokens such as Bitcoin and Ether.

    We welcome the Act with open arms, said Liquid’s CEO Mike Kayamori, who was quoted in a «Bloomberg» report. The firm will apply via its local Quoine Pte subsidiary. Tokyo-based crypto exchange operator Liquid Group Inc and London-based Luno, which already operate in Singapore, are among the firms planning to apply for the licenses.

    Increased investor interest in digital tokens has encouraged several regulators around the world to bring the venues under their scrutiny, especially for money laundering and other illicit activities.

    Besides bringing crypto firms into the regulatory fold, the law will hand the Monetary Authority of Singapore formal supervisory powers for cybersecurity risks and controls on money laundering and terrorism financing. The new measure narrows the gap with Japan, currently a major Asian centre for cryptocurrency trading after 22 exchanges received licenses there since 2017.

    The key advantage of Singapore’s new legislation is providing regulatory clarity on new types of payments activities such as e-wallets and cryptocurrency exchanges, according to Nizam Ismail, the founder, and chief executive officer of Ethikom Consultancy, which helps potential applicants with licensing and compliance issues.

    Twenty of the top 50 crypto exchanges are based in the Asia-Pacific region and accounted for about 40 percent of Bitcoin transactions in the first half of last year, according to data from Chainalysis.

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  • Swisspartners Opens Office in Singapore

    Swisspartners Opens Office in Singapore

    The Firm has been fully licensed as a trust company by the Singapore Monetary Authority (MAS) since 2010 and is located in the heart of the central business district at 1 George Street, according to further information.

    The board of Swisspartners Marcuard Trust (Singapore) consists of Dorothy Yeo, Evelyn Tay, David Sykes, and Robin Graetz. The firm has a team of professionals based in Singapore. It consists of trust and corporate professionals as well as compliance specialists who speak Mandarin, English, and Italian.

    Asia is important for the trust group to complement our offering in Europe, including our longstanding operations at Swisspartners Marcuard Heritage in Zurich and SPMH (Cyprus) in Larnaca, which was established in 2018, a spokesperson said.

    The company provides wealth planning and wealth structuring, using a variety of tools including trusts, foundations, companies, life insurance, and private label funds. «We continue to see a demand for relocation and residency services from individuals in the region and further afield, and our team is well placed to assist those looking to take up residence in Singapore, the spokesperson further said.

    Singapore is the gateway to Asia and is well placed to benefit from the growing wealth of entrepreneurs in the region who now require wealth planning and wealth structuring. Wealthy individuals and their families are concerned about the preservation of their wealth and wish to ensure that it is safeguarded not just for the next generation but for future generations as well. The growth of the Chinese economy has also spurred growth in other countries in the region and this wealth is looking for a safe home.

    Swisspartners was founded in 1993. Today, it is one of the largest financial service providers in Switzerland and growing internationally. The group’s approximately 120 employees serve discerning private clients from around the world from offices in Zurich, Geneva, Vaduz, and Feldkirch.

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  • Luxury Real Estate in Singapore Draws Rich Chinese

    Luxury Real Estate in Singapore Draws Rich Chinese

    Rich Chinese continue to snap up luxury homes in the city-state as they seek a safe and calm offshore location to park their wealth.

    Protests in Hong Kong are driving rich Chinese property buyers away from the special administrative region to relatively calm and stable Singapore.

    The Lunar New Year period is a particularly busy period for property agents in Singapore catering to this group of buyers – three interviewed by the publication said inquiries among mainland Chinese in the lead up to this period typically jump by 15 percent, with demand intensifying in the past two years.

    Property cooling measures, which raised the additional buyer stamp duty on foreigners buying any residential property to 20 percent in July 2018, up from 15 percent, have had little effect on the demand for luxury apartments in Singapore – Chinese buyers of apartments S$5 million ($3.7 million) or more doubled in the third quarter of 2019 from the same period the year before, the report said.

    Most buyers purchase properties as an investment and prefer those near landmark locations, according to realtors interviewed by the publication. However, they noted that a growing number of buyers are also buying apartments with the sole purpose of parking their wealth here.

  • NokScoot soars to new heights for punctuality

    NokScoot soars to new heights for punctuality

    NokScoot, the joint venture low-cost carrier of Thailand’s Nok Air and Singapore’s Scoot, achieved its best-ever annual on-time performance (OTP) since the start of operation with an average of 86.55% in 2019.

    The airline’s 2019 punctuality report revealed that the airline obtained its highest OTP on record even though the flights flown increased by 30% or 1,162 flights. Last year alone, it operated 4,951 flights, an increased from 3,789 flights flown in 2018. During the busiest month of 2019 in December, it earned a perfect 100% OTP for both, Tokyo Narita International Airport in Japan and Qingdao International Airport in China.

    “At NokScoot, we always work hard in order to offer the best services and provide an enjoyable flying experience to our passengers.” said Yodchai Sudhidhanakul, CEO of NokScoot. “OTP is crucial and has always been one of our five core values, ‘Consistently Deliver’. We are committed to maintain and enhance the highest standard in every aspect, including punctuality, safety and convenience.”

    The carrier currently flies from Bangkok to nine destinations in East Asia and India, including Nanjing, Qingdao, Shenyang, Tianjin, Taipei, Tokyo, Sapporo, Osaka, and New Delhi.

  • First Mott 32 Singapore restaurant opens at Marina Bay Sands

    First Mott 32 Singapore restaurant opens at Marina Bay Sands

    Hong Kong restaurant chain Mott 32 is launching at Marina Bay Sands today in partnership with Maximal Concepts.

    After Hong Kong, Las Vegas, Seoul and Vancouver, the opening of Mott 32 Singapore brings the brand’s approach to regional Chinese cuisine to the Lion City.

    The restaurant is known for its use of recipes handed down across the generations, prepared using progressive cooking techniques and premium ingredients.

    “At Mott 32, we are dedicated to serving authentic, timeless recipes that pay homage to the rich heritage of Chinese cuisine,” noted Mott 32’s executive chef Chan Wai-Keung. “Our approach to cooking is to retain the essence and original flavors of the dish while elevating it using quality produce.”

    “Singapore has a sophisticated and incredibly talented dining scene,” said Maximal Concepts co-founder Xuan Mu. “The opening of Mott 32 Singapore marks a significant milestone for us, and we hope that it will be well-received amongst Singaporeans.”

    “We welcome guests from all around the world to explore the intricacies of Chinese cuisine at Mott 32 Singapore, and look forward to showcasing a combination of Mott 32’s iconic dishes and Singapore-exclusive creations,” said Chan.

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  • Singapore Jumped Three Spots In Bloomberg Innovation Index

    Singapore Jumped Three Spots In Bloomberg Innovation Index

    Singapore has reclaimed its number three rank in the 2020 Bloomberg Innovation Index, after leaping three spots. However, economies across Asia-Pacific showed a mixed picture of progress.

    Singapore’s rise against global peers was underpinned by stronger showings in productivity and patent activity, while the city-state also retained a world-beating ranking in tertiary efficiency. For the latter category, Bloomberg’s rankings take into account factors such as graduation rates of first-degree earners and the share of the labor force that’s made up of new science and engineering graduates.

    Singapore’s high standing in the index speaks to its long-term focus on adapting to an aging population as well as a tighter labor market, as it guns for higher productivity. We see more innovation in the pipeline with even more use of automation in multiple industries. There’s a lot that’s on the way in that regard — and being willing to experiment,»  said David Mann, chief economist for Standard Chartered in Singapore.

    Both Singapore and Vietnam clinched the most-improved title in the region, with the latter climbing three spots to number 57 after it first qualified for a ranking last year. Vietnam was hailed an «e-commerce leader» for trimming regulations and improving cross-border trade, according to a post by Rebecca Sta Maria, executive director of the Asia-Pacific Economic Cooperation Secretariat, ahead of the Index release.

    What also works are reforms that focus on education, skills, infrastructure, and social security, and address barriers that prevent women, small businesses, and traditionally marginalized groups from fully participating in the digital economy, she wrote.

    The annual Bloomberg Innovation Index analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies. The Index, in its eighth year, was released just before the annual World Economic Forum in Davos, Switzerland, where innovation will be a key theme of meetings from 21 January to 24 January.

    After a six-year streak at the top, South Korea was unseated from its best-in-world spot by Germany — but only just. Japan and New Zealand were among those losing ground in innovation against global peers, while Vietnam showed a big gain, according to the results.

    The world’s biggest economies had opposite fortunes, with the U.S. dropping one level to No. 9 and China improving by one spot to No. 15. The U.S. was ranked No. 1 when the Innovation Index debuted in 2013.

    The news wasn’t great for advanced economies in the Asia-Pacific, either, with Japan dropping three spots and Australia falling one. New Zealand’s five-spot decline was the biggest slide of any economy ranked in this year’s Innovation Index, mainly due to a drop in productivity and value-added manufacturing.

    The 2020 ranking process started with more than 200 economies. Each was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn’t report data for at least six categories were dropped off the rankings, trimming the total list to 105. Bloomberg then publishes the top 60 economies.

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  • Card Payments To Exceed One Billion In Hong Kong

    Card Payments To Exceed One Billion In Hong Kong

    Despite the dominance of cash, card payments volume in Hong Kong is expected to surpass one billion in 2020, says GlobalData.

    The convenience of electronic payments, robust payment infrastructure and the emergence of contactless payments are expected to drive the total number of card payments from 642.0 million in 2015 to 1 billion in 2020, according to GlobalData, a data and analytics company.

    Hong Kong’s high banked population, growing preference for contactless technology and, the growing e-commerce market will further support the use of payment cards over the next five years,” said Nikhil Reddy, Banking and Payments Analyst at GlobalData in a media statement on Monday.

    Hong Kong has a highly penetrated payment card market, with each individual holding more than three cards in 2019. The steady progress in the adoption and use of payment cards, plus the high penetration, are supported by the government and banks’ efforts to provide banking services even in remote areas.

    The expansion of banking infrastructure through the introduction of mobile banking branches, new physical bank branches and the establishment of virtual banks, were also factors.

    Hong Kong’s payment card market is mainly driven by credit and charge cards, which accounted for 67.9 percent of total card payment value in 2019, GlobalData’s Payment Cards Analytics reveals. The total card payment value in the country is forecast to increase from HK$43.3bn in 2019 to HK$59.6bn in 2023.

    The pricing benefits such as referral programs, installment facilities, cashback and discounts associated with credit and charge cards are some of the key reasons for their preference. In addition, these cards are increasingly preferred for online shopping and for transactions overseas.

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  • Singapore Tops List For Mobile Payment Usage

    Singapore Tops List For Mobile Payment Usage

    Singapore is ranked global leader in mobile payment usage among Chinese tourists, fueled by the country’s maturity in mobile payment solutions, according to a joint report by Nielsen and Alipay. The availability of mobile payment is among the top three factors affecting Chinese tourists’ overseas shopping habits.

    The Southeast Asia region maintains its leadership in mobile payment usage among Chinese tourists, with Singapore and Thailand positioned at #1 and #6 in the global ranking, reflecting the region’s maturity in mobile payment solutions. Other countries on the list of «Top 10 countries where Chinese tourists love to use mobile payments» include South Korea, Japan, Australia, France, New Zealand, Canada, the UK, and the U.S.

    In Singapore, an early adopter of Chinese mobile payment solutions, almost all merchants (97 percent) indicated steady improvement compared to the previous year in terms of mobile payment usage and the amount of mobile spending by Chinese tourists. «Chinese mobile payment engagement level and the depth of usage among Chines tourists continued to increase…as such, overseas merchants are showing a more open attitude towards the application of Chinese mobile payment platforms and digital operations,” said Justin Sargent, President of Nielsen China in a media statement.

    These results are encouraging more overseas merchants to deepen the use of Chinese mobile payment platforms as they go digital. Nearly seven out of ten (66 percent) surveyed merchants in Singapore, South Korea, and the U.K. hope to carry out more digital store operations through Chinese mobile payment platforms and hope to further their promotional and marketing activities leveraging Chinese mobile payment platforms.

    «The trend of more overseas merchants going beyond payment to adopt more digitalized services is a promising one, as it helps brick-and-mortar businesses become better integrated with the digital economy while bringing more personalized experiences for consumers around the world,» said Angel Zhao, President of Ant Financial’s International Business Group. Slightly under two-thirds of merchants surveyed in Singapore, South Korea and the U.K. (63 percent) said that they are likely to recommend Chinese mobile payment systems to their industry peers.

    Surveying 4,837 Chinese travelers and 547 overseas merchants, the report provides a new look at the digitalization trend of the overseas retail sector at a time when online and offline businesses are increasingly merging and Chinese tourists are poised to have even more influence as they travel abroad.

    Destination related insights

    • Among all the countries surveyed, the usage of Chinese mobile payments in Singapore, South Korea, and Japan was highest, with Singapore in the leadership position.
    • 77% of Chinese tourists in Singapore use mobile payments for their transactions.
    • Total spending via mobile payment of Chinese tourists increased significantly in countries where Chinese mobile payment adoption is relatively mature.
    • In Singapore, Malaysia, Thailand, Japan, and South Korea, the usage rate of mobile payment among Chinese tourists was high, reaching 70% in both 2018 and 2019.
    • Correspondingly, the total amount spent by Chinese tourists increased by 14% in Singapore and Thailand and 23% in Japan and South Korea between 2018 and 2019.

    Merchant related insights

    • More overseas merchants intend to deepen the use of Chinese mobile payment platforms as they go digital.
    • 66% of surveyed merchants in Singapore, South Korea, and the UK hope to carry out more digital store operations through Chinese mobile payment
    • 66% hope to further their store’s promotional and marketing activities leveraging Chinese mobile payment platforms.
    • 97% of surveyed merchants in Singapore indicated steady improvement compared to the previous year in terms of mobile payment usage and the amount of mobile spending by Chinese customers.
    • 63% of surveyed merchants in Singapore, South Korea, and the U.K. said that they are likely to recommend Chinese mobile payment systems to their industry peers.

    Tourism-related insights

    • In 2019, destinations located a four-hour flight away such as Japan, South Korea, Thailand, and Singapore, remained the most popular choices for Chinese tourists.
    • In addition, the U.S., Australia, U.K., and Canada were also among the top 10 countries, which indicated that Chinese tourists were fairly keen on traveling to English-speaking countries.
    • Thailand and Singapore were among the Top 10 overseas destinations visited by Chinese tourists in 2019 and the Top 10 Countries for Overseas Travel Plans in 2020.
    • In 2019, compared with last year, Chinese tourists born in the 1990s spent nearly 12% more on a single overseas trip while those born in the 1980s spent 15% more. An underlying reason for the increased travel expenses may be the desire for a more in-depth experience of local cultures.
    • Top three factors affecting Chinese tourists’ overseas shopping habits are:
      • Payment methods accepted by the merchant (37%);
      • Product variety and quality (36%); and
      • Product price (36%)
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  • Clarins Skin Spa opens at Singapore’s Ion Orchard

    Clarins Skin Spa opens at Singapore’s Ion Orchard

    Clarins Skin Spa opened at Singapore’s Ion Orchard last week. The luxury beauty brand unveiled its new home having spent the past 24 years at its former Wheelock Place location. The new outlet’s cozy interior of light oak, whites, and lush greens reflect the brand’s late founder Jacques Courtin-Clarins’ belief that healing begins from within.

    A launch event was attended by Clarins Group executive VP Southeast Asia Guillaume Nagy along with Clarins Group president of North America and Asia-Pacific Christophe de Pous and several celebrity guests.

    To celebrate the occasion, all 60-minute facial and body treatments given at the new location will be discounted from February 1 through to June 30.

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  • DBS Launches QR-Based B2B Payments

    DBS Launches QR-Based B2B Payments

    DBS helps further propel Singapore’s cashless movement by introducing quick response code-based payments for the business-to-business segment.

    The bank hopes to boost payment speeds and is piloting the solution first in the F&B industry – a sector with limited penetration with nine out of 10 payments still being made through cash or bank transfers, according to a statement. The bank developed the solution after nearly 20 digital workshops with F&B businesses to identify bottlenecks in the payment process.

    In the new solution, which executes payments through its fund transfer service PayNow, users can consolidate multiple invoices per transaction and make full or partial payments for multiple invoices. This is also expected to effectively help improve credit terms due to the instantaneous and flexible nature of the process. The bank will roll out the new payment solution to the broader F&B ecosystem, logistics companies, and traders by the end of 2020.

    Aside from the retail segment, SMEs are expected to be a major growth driver for digital players in finance given a large gap between needs and demand.

    Many SMEs we speak to want to realize productivity gains by becoming more digital but don’t have the expertise or infrastructure to do so,» said Joyce Tee, group head of SME banking at DBS. «The lender is looking to understand SMEs’ pain points and then lay the foundation for enhanced payments capabilities one sector at a time.

    In November last year, Singaporean rival UOB also launched a payment solution aimed to capitalize on the cashless market for businesses. UOB’s Mcollect is a QR-based solution that enables instant payment and reconciliation to improve what it estimates is otherwise, on average, a four-day manual process.

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  • Global exclusive Kiehl’s Lunar New Year store launched at Changi Airport

    Global exclusive Kiehl’s Lunar New Year store launched at Changi Airport

    New York skincare brand Kiehl’s has launched one of its largest-yet airport pop-up stores in the region, at Singapore’s Changi Airport.

    The global-exclusive Kiehl’s Lunar New Year store at Terminal 3 was formally opened in partnership with the airport’s beauty-products concessionaire The Shilla Duty-Free and will trade until February 9.

    At Friday’s launch, popular Chinese actor, singer and model, Dylan Wang, best known for his appearances in Chinese television series Meteor Garden, made a guest appearance, greeting 35 young fans from across Asia who had won a contest to attend the event and wowing KOLs from Mainland China.

    The pop-up store artwork was created by Australian artist Eirian Chapman and features a mascot Rock-it the Rat traveling through a cinematic New York to the garden city of Singapore. Chapman also designed Year-of-the-Rat labels for three of Kiehl’s’ most-popular products, the Ultra Facial Cream, Avocado Eye Cream, and Calendula Herbal Extract Alcohol-Free Toner, sold in a travel-exclusive boxed set. Playing on the theme of the mischievous rat lighting up the sky and the year, Chapman also illustrated a Rat on a firecracker she has ‘set alight’.

    More than a just a large, high-profile store, the Kiehl’s Lunar New Year pop up features an interactive game where visitors can win prizes for tapping the rat as it pops up on a digital screen, an onsite calligrapher drawing Chinese characters and customizable messages on souvenir fans, and Instagrammable spots, including a Singaporean rickshaw.

    On an interactive screen, visitors can write New Year blessings on a rocket graphic, then decorate it with their choice of colors and stickers, before virtually blasting it off into the sky, to be shared with friends via email.

    Cellophane-free packaging

    Sustainability issues and the Kiehl’s commitment to the environment were also highlighted at Friday’s event. Petrina Kho, GM of Kiehl’s Travel Retail Asia Pacific, revealed the brand has eliminated all cellophane wrapping of its products as part of a commitment to reducing its environmental footprint.

    The company also presented a cheque for US$30,000 to Singaporean charity the Jane Goodall Institute which supports student-initiated activities under its Roots & Shoots program, encouraging and empowers youth to help solve human, animal welfare, and environmental problems in their communities. The funds will allow local youngsters to plant 800 saplings and monitor their growth and wellbeing over three years.

    “I am very proud that we continue to successfully engage customers in an evolving retail landscape while supporting a meaningful cause that gives back to the community,” said Kho.

    Jeff Lee, MD of The Shilla Duty-Free Singapore, says the Kiehl’s pop up helps his company create unique shopping experiences to excite airport travelers. “Working closely together with Kiehl’s Travel Retail Asia Pacific and Changi Airport Group, we strive to push the boundaries in delivering exceptional customer-centric retail experiences.”

    Teo Chew Hoon, group senior VP of airside concessions at Changi Airport Group said the Kiehl’s pop up kicked off Lunar New Year festivities for Changi Airport Group. “Travellers can engage in fun and memorable experiences at the interactive space, while shopping for the perfect gifts for their friends and families.”

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