Posts

Welcome back to eIQ in 2017! Here are the news you should know for today.

1. Indonesian logistics startup Anterin opens new R&D centre in Jogjakarta

Indonesian on-demand logistics startup Anterin began the new year by announcing that it is opening new R&D centre in Jogjakarta, as a result of its partnership with local software developer company TLAB.

Currently only available in Jakarta, the company has eyes on a nationwide expansion this year.

Read the rest of the story here.

 

2. Viettel pioneers free roaming in Cambodia, Laos, Vietnam

Vietnam’s state-owned telecom Viettel will eliminate overseas roaming charges between its operators in Vietnam, Laos, and Cambodia from January 2017.

Military-run Viettel posted revenue of $9.7 billion in 2015 with 13% year-on-year growth, and profits up 8% to $2 billion.

Read the rest of the story here.

 

3. Wall Street stays bullish on Alibaba

Wall Street remains bullish about China’s internet giant Alibaba Group Holding Ltd amid a spate of stock selling by its principal stakeholders in the past six months. Among the latest moves was the share sale plan adopted by Joe Tsai, which allows the firm’s executive vice-chairman to sell up to 6.5 million shares of the company’s stock through October.

“We believe that Alibaba is in the early stages of unlocking the value from what we view as its most valuable asset – a rich database that continues to accumulate from its well-controlled and extensive closed-loop ecosystem, through advances in data technology,” Morgan Stanley’s Grace Chen and her team said in a report in December.

Read the rest of the story here.

 

4. Maybank launches mobile money transfer service in Malaysia with Western Union

Maybank and Western Union have launched a digital remittance service in Malaysia via the Maybank2u (“M2u”) mobile banking app and Maybank’s website.

The service enables Maybank customers to transfer money to more than 500,000 Western Union® Agent locations in over 200 countries and territories. The money transfer service is available 24 hours a day and customers to transfer up to RM10,000 daily. Recipients will be able to receive money quickly after it is wired by the sender.

Maybank Group Head, Community Financial Services, Datuk Lim Hong Tat added that new service will help the bank to grow its digital transactions business.

Read the rest of the story here

 

5. Chinese retail is obsessed with Donald Trump

“This is the first time we’ve had a president who is a brand, and it’s not unusual to see various markets try to co-opt brands for their own success,” said Greg Portell, lead partner for consumer industries and retail practice at global consulting firm A.T. Kearney. “But China, in particular, is trying to capitalize on the Trump brand.”

“If you go back to what retailers are looking for in general, they’re looking to drive traffic and drive conversation. Selling products is almost secondary,” Portell noted. “In China, they’re achieving all the above.”

Read the rest of the story here


If you’re interested in reading more about how 2016 was for ecommerce in Southeast Asia, find out which articles were most popular on eIQ in 2016 here.

Wind down from a busy Friday by catching up with the key ecommerce headlines here.

1. Indonesia’s HaloDoc Raises $13 million in Series A, from Singaporean private equity firm Clermont and NSI Ventures

The app is available for Android and iOS and offers a full range of services: online consultation, medicine delivery, on-demand lab tests, a hospital and doctor directory, as well as an appointment scheduler. There’s no web version of it, just the app. Read the rest of the story here.

 

2. New Amazon data from Wall Street should terrify all retail stores in the US

 According to a note published on Thursday by financial firm PiperJaffray, Amazon now has a warehouse or delivery station within 20 miles of 44% of the US population. Read the rest of the story here.

 

3. Rocket Internet’s Home24’s valuation fall sparks concerns of downgrades in other Rocket firms

The volatile shares of Rocket Internet dropped on Thursday after the German e-commerce investor slashed the valuation of its Home24 online furniture business by more than half in a funding round. Read the rest of the story here.

 

4. Maybank partners with Samsung Pay to strengthen presence across Singapore

The launch of Samsung Pay in Singapore follows the bank’s introduction of its mobile wallet in Malaysia last month, and will be followed by the progressive roll‐out of other digital initiatives across the region. Read the rest of the story here.

 

5. Alipay takes part in $460 million stake in Yum China, To Implement Alipay in KFC and Pizza Hut

This collaboration will see Yum China move into a new chapter of world class mobile payment services for tens of millions of customers across its brands. Read the rest of the story here.

Adjusted earnings per share came in at $1.78, when Wall Street was forecasting $1.11, reports Tech Crunch. Amazon shattered expectations when it reported second quarter earnings after the bell on Thursday.

The company saw a significant increase in sales and profit from the same period last year. Net sales were up 31%  and net income was $857 million, a very large jump from last year’s $92 million.

Amazon stock is also up 43% in the past year.

The company has also been aggressively expanding in India, touting it as a key emerging market, most recently with the launch of Amazon Prime there:

The team in India is inventing at a torrid pace, and we’re very grateful to our Indian customers for their welcoming response. – Jeff Bezos, Amazon CEO.

The company announced that it expects its revenue for Q3 to be between $31 billion and $33.5 billion.

Amazon has built up a successful ‘Prime’ business, where users pay annual subscriptions to get faster shipping and access to content like movies and music. It also created its own discount holiday last year called Prime Day. The sales day generated significant traction this year and will be included in Q3’s earnings.

Going forward, the company is betting that drone deliveries will cut down on costs and improve efficiency. Amazon is also expanding its grocery business.

Amazon’s earnings this quarter, coupled with various innovative push into markets from the US to India further cements its position as an industry mainstay.

A version of this appeared in Tech Crunch on July 28. Read the full version here.