A third of the world's consumers are suddenly nervous to spend

MUMBAI/BEIJING (Oct 9): Down the street from Mumbai’s grand colonial-era Royal Opera House, Deepak Gurnaney sits in his small electronics shop in front of rows of flat screen TVs flashing Hindi-soap operas, while his four staff play with their phones. There are no customers.

The 68-year-old used to need a machine to count the cash brought in by the business his father founded, and a warehouse nearby to keep enough stock. With business down 25% the past two years, he’s got rid of both.

Singapore retail property battles online shopping exodus

SINGAPORE (July 24): Singapore’s malls are showing some resilience to the global hollowing out of physical retail by online shopping. The demographics of the smartphone generation are still against them, though.

Suburban middle-class shopping centers put up a strong show in CapitaLand Mall Trust’s quarterly earnings Tuesday. Their relative outperformance was an overarching theme in the results of Singapore’s biggest mall landlord, which offer a useful three-monthly check on the retail pulse and shifting consumption patterns in the city-state.

CapitaLand Mall Trust to deliver higher returns in near-term, but positives already priced in: OCBC

SINGAPORE (June 6): OCBC Investment Research is maintaining “hold” on CapitaLand Mall Trust (CMT) while raising its fair value estimate by a cent to $2.33 on the faster-than-expected ramp up of Funan.  

This comes after CMT’s manager announced the impending opening of the integrated development on June 28, two months ahead of the original scheduled date.  

Funan to reopen on June 28 after undergoing three-year redevelopment

SINGAPORE (June 3): The manager of CapitaLand Mall Trust (CMT), an indirect wholly-owned subsidiary of CapitaLand, says Funan is slated to open its doors on June 28 this year – two months ahead of its original scheduled date.

Metro's 4Q earnings surge to $51 mil on fair value gains & share of JVs

SINGAPORE (May 28): Metro Holdings has announced 4Q19 earnings of $51 million compared to $1 million a year ago, due to higher revenue and fair value gains, as well as a surge in share of results in joint ventures (JVs).

The group’s earnings for the full year nonetheless came in 40.2% lower at $95.3 million compared to $159.2 million in FY18 on the back of comparatively lower share of results of associates.

Nike, Adidas, call tariffs 'catastrophic' in open letter to Trump

NEW YORK (May 21): Nike Inc., Adidas AG and other footwear giants urged President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be “catastrophic for our consumers, our companies and the American economy as a whole.”

In all, 173 companies signed an open letter to the president, dated Monday and posted on the industry trade association’s website. It was also sent to Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross and National Economic Council director Larry Kudlow.

Funan office component said to hit 98% pre-leasing commitment at TOP

SINGAPORE (May 8): The manager of CapitaLand Mall Trust (CMT) and CapitaLand say the twin office blocks of Funan have secured a total pre-leasing commitment of 210,000 sq ft or 98% of its total office net lettable area (NLA) at the point of securing TOP in April.

Formerly known as Funan DigitaLife Mall, Funan is owned by CMT and managed by CapitaLand.

BreadTalk reports 52.4% higher earnings of $1.7 mil on higher revenue

Singapore (May 7): BreadTalk Group has announce earnings of $1.7 million for 1Q19, up 52.4% from $1.1 million in earnings a year ago on higher revenue.

Revenue for the quarter rose 6.1% to $157.6 million from $148.5 million a year ago, led by growth across all business divisions. The group attributes this to its continual focus on improving the quality of its products as well as the overall efficiencies in the central kitchen and procurement efforts.

FJ Benjamin posts 19% lower 3Q earnings of $0.3 mil despite margin growth

SINGAPORE (May 2): FJ Benjamin Holdings reported earnings of $0.3 million for the 3Q ended March, down 19% from its $0.37 million net profit in 3Q18 mainly due to lower revenue and a lower foreign exchange (forex) gain compared to that of a year ago.  

Group revenue fell 22% y-o-y to $32.7 million from $41.8 million due to loss-making brands which were discontinued after the previous corresponding period, as well as a $1.9 million drop in sales for its Indonesian associate, which FJ Benjamin says is now directly financing more of their purchases.

Beyond the industry glitz of 'influencer' marketing

SINGAPORE (Mar 22): The global influencer industry is one that is poised to reach US$10 billion in size by 2022, according to the Influencer Marketing Report from Business Insider Intelligence.

Google searches for the term “influencer marketing” increased 325%, from 6,460 searches a month in 2016 to 21,000 searches a month in 2017. Last year, companies spent US$8 billion on sponsored posts on social media.

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