Aeon Vietnam announced that they will invest an additional USD 2 billion to expand its network of commercial centers in the country. Iwamura Yasutsugu, the general director of Aeon Vietnam, says the company expects to develop 25 centers across the country as consumer...
Singapore-based property firm OUE announced that it acquired, through its indirect wholly-owned subsidiary, Oddish Ventures Pte Ltd, a 88.43% stake in Indonesia’s Maxx Coffee Prima (PT MCP) for USD 23.1 million. Shares were bought from PT Inti Anugerah Pratama...
Malaysia has relaxed the rules governing foreign operators of large-format grocery stores, following a recent revision on the Guidelines on Foreign Participation in the Distributive Trade Services 2020 that took place in January 2020. Large-format grocery stores in...
Gudangada, an online B2B FMCG (Fast Moving Consumer Goods) marketplace, has obtained seed funding in the double digit millions in a seed from Alpha JWC Ventures and Wavemaker Partners. Singapore-based private equity firm Pavilion Capital is also part of this funding...
Malaysia’s largest home improvement products retailer, Mr DIY Group Berhad is targeting to open at least 100 additional stores in Malaysia in 2020. Currently, the company has 583 stores nationwide and holds an estimated market share of 25.4%. Mr. DIY stated that it...
GrabFood, the leading online delivery platform in the Philippines, has introduced its first ever GrabKitchen in the country, a central kitchen wherein food establishments are gathered in one location to reduce delivery time for orders. GrabKitchen offers users in a...
The three leading Singapore Banks, DBS, Overseas Commercial Bank of China (OCBC) and United Overseas Bank (UOB) have announced relief measures for corporate small and medium enterprises (SMEs) and retail customers affected by the COVID-19 (Coronavirus Disease 2019)...
Thailand’s largest retailer, Central Retail Corp, priced its IPO (Initial Public Offering) at THB 42 (USD 1.36) per share, raising THB 78.1 billion (USD 2.5 billion), making it the country’s largest IPO ever. The company would have a market valuation of...
Vietnam’s largest pharmacy retailer, Pharmacity, plans to open 350 new stores this year and reach 1000 stores by the end of next year. In February 2020, Pharmacity raised VND 730 billion (USD 31.8 million) in a fresh funding round, which will be used for the further...
Warburg Pincus LLC backed shopping mall developer, NWP Retail, will spend USD 123.5 million to purchase five Lippo shopping malls in Indonesia. Two shopping malls will be purchased from Singapore-listed Lippo Malls Indonesia Retail Trust for USD 92 million and the...
Chinese e-commerce giant, Taobao, a part of the Alibaba Group, has launched its largest retail store named ‘Taobao’ in Kuala Lumpur, in partnership with MyTOWN Shopping Centre and Lumahgo New Retail Sdn Bhd. Using the New Retail technologies, the 5,000 square feet...
Swedish fashion group H&M will launch its Monki brand in the Philippines, the second South East Asian market for the company’s diffusion brand which mainly caters to young women. The first store for Monki in the Philippines will open later this year at SM Megamall...
