25 C
Vientiane
Tuesday, May 6, 2025
spot_img
Home Blog Page 2435

TF International and ChinaBond Pricing Center Jointly Launch the First ESG-themed Chinese Offshore USD Bond Index to Effectively Drive the Development of Green and Sustainable Financial Markets and Facilitate the Financing of High-quality Enterprises

HONG KONG SAR – Media OutReach – 30 November 2021 – TF International Securities Group Limited (“TF International” or “the Company”), a wholly-owned subsidiary of Tianfeng Securities Co., Limited (Stock Code: 601162.SH), and ChinaBond Pricing Center Co., Ltd. (“ChinaBond Pricing Center”) today jointly launched the ChinaBond TFISEC ESG Selected Chinese Offshore USD Bond Index (“the Index”), the first ever environmental, social and governance (“ESG”) themed Chinese USD bond index compiled and launched within China. It aims at facilitating both onshore and offshore investments, as well as guiding onshore and offshore funds to serve the green and sustainable sectors with the goals of achieving Carbon Dioxide Emissions Peak and Carbon Neutralization. In the long run, it is expected that more than RMB100 trillion of low-carbon investment needs will be satisfied by stimulating ESG investing.

From left to right: Mr. Chuan ZOU, CEO of TF International; Ms. Christine WILLIAMS, Deputy Global Head of Family Office of InvestHK; Mr. Lei YU, Chairman of Tianfeng Securities, as well as Mr. Yong WANG, Chairman and President of TF International.

 

Using fair and objective screening criteria, selected issuers are primarily from traditional real sectors

 

The ChinaBond TFISEC ESG Selected Chinese Offshore USD Bond Index is screened for the entire Chinese USD bond market, which includes a total of 2,213 Chinese USD bonds that are potentially eligible for inclusion. The screening criteria are based on the ChinaBond ESG Evaluation published by ChinaBond Pricing Center, that is, issuers are grouped according to the Center’s industry classification standard before bonds issued by the top 30% issuers in term of ESG rating in each industry are selected for compilation. Constituent bonds are reviewed and adjusted on a monthly basis. Information about the Index can be found on www.ChinaBond.com.cn.

 

The Index covers 12 traditional industries, including finance, construction and real estate that constitute the largest part of the Index in order as follows: 46%, 18% and 12%. Underlying companies include Chinese enterprises such as Bank of China (3988.HK), Bank of Communications (3328.HK), Poly Real Estate (600048.SH) and China State Construction (3311.HK). As of the end of October 2021, the Index is comprised of more than 360 Chinese USD bonds, accounting for about 20% of the overall Chinese USD bond market.

 

The Company of great vision gets a head start in the green finance space

 

Tianfeng Securities, the parent company of TF International, incorporated green finance into its core development strategy as early as 2016. As the first securities firm in China to establish a green finance division, it is an advocate and pioneer in the field of green investment. Sharing the same development approach of its parent company, an ESG-led sustainability vision is deeply rooted in TF international’s DNA. The launch of the ChinaBond TFISEC ESG Selected Chinese Offshore USD Bond Index will effectively facilitate both onshore and offshore investments, and further satisfy the growing demand of investors for high-quality and reliable Chinese USD bond index products with sustainability potential.

 

In tandem with the launch of the Index, TF International also plans to launch an ETF product to track the Index in the near term. The new offering will mainly track passive products. Collaboration and selling targets include onshore and offshore entities, particularly European and American green fund entities and Chinese entities, with the aim of offering a more diversified and robust portfolio to the market. The Index may be listed on overseas exchanges in the future. Research and negotiations are now under way.

 

Soaring tide of ESG investing places emphasis on both onshore and offshore capitals

 

In recent years, there have been increasing concerns and conversations about environmental issues internationally. The three pillars of sustainability represented by ESG, that are environmental, social and governance, have become an important consideration for the global investment market. The ESG investment market is changing rapidly. By the end of 2020, global equity and fixed income ESG-themed ETFs totaled over USD150 billion, up 85% from the end of 2019.

 

Yifan AO, Director of China Central Depository & Clearing Co., Ltd. (“CCDC”) and Chairman of ChinaBond Pricing Center, said, “Currently, the idea of sustainable development has become a global consensus. As a key national financial infrastructure, CCDC actively pursues green development by inventing the classification concept of ‘Real Green’ bonds, taking the lead in running the ChinaBond – Green Bond Environmental Benefits Information Database, as well as compiling and launching a series of green bond indices. The ChinaBond TFISEC ESG Selected Chinese Offshore USD Bond Index launched in cooperation with TF international is an innovative outcome of our deepening collaboration in the field of green finance. In the future, the creation of index-related products will help guide onshore and offshore funds to serve the green and sustainable sectors, enhance the global resource allocation capacity of Chinese entities, and improve the quality and efficiency of finance in serving the real economy.”

 

Yong WANG, Chairman and President of TF International, remarked, “The launch of ChinaBond TFISEC ESG Selected Chinese Offshore USD Bond Index aims at facilitating the participation of high-quality onshore companies in the internationalisation of China’s capital market while further improving the offshore financing efficiency of Chinese enterprises so as to bring more high-quality capital into China and support the development of the real economy. For onshore issuers, taking the initiative to comply with an ESG framework in their daily operations can effectively improve their offshore financing efficiency and drive enterprises to pursue all-round and sustainable ESG development. For offshore investors, ESG-related indicators can also help them effectively screen out high-quality businesses and obtain solid investment gains, forming a virtuous cycle of continuous mutual benefits between underlying investments and investors.”

 

Currently, Tianfeng Securities Co., Limited has a BBB rating from MSCI ESG Ratings, outperforming 67% of its global peers. In terms of ChinaBond ESG Evaluation, it has an ESG score of 8.

About TF International

Established in Hong Kong in 2015, TF International Securities Group Limited (“TF International” or “the Company”) is a wholly-owned subsidiary of Tianfeng Securities Co., Limited (Stock Code: 601162.SH). Through its subsidiaries, TF International holds SFC Type 1, 2, 4, 5, 6 and 9 licenses to strategically diversify its business across a variety of sectors such as wealth management, institutional investment banking, financial market and asset management.

The Company offers turnkey financing services to enterprises, including financial advisory, stock capital market and bond market financing; as well as secondary market trading opportunities to clients through its own one-stop trading platform and professional investment information portal. Meanwhile, it provides asset management of secondary market funds and primary market projects for high-quality enterprises and financial institutions around the world by customising asset allocation solutions based on their actual circumstances to attract quality capital.

TF International has grown to become an important leader and player in the Chinese onshore USD bond market. It holds a dominant position in the issuance of Chinese USD bonds and assets management.

Company website: https://www.tfisec.com/

About ChinaBond Pricing Center and ChinaBond Index

ChinaBond Pricing Center, a wholly-owned subsidiary of China Central Depository & Clearing Co., Ltd. (“CCDC”), is a benchmark pricing platform built by CCDC based on its neutrality and professionalism as a central securities depository after more than two decades of dedication. ChinaBond Index has become an important reference indicator for the RMB bond market. Onshore bond funds with ChinaBond index as the performance benchmark and underlying investment total about RMB3.2 trillion, accounting for more than 80% of the market.

Disclaimer

1.This document is compiled by TF International Securities Group Limited, TFI Securities and Futures Limited (SFC CE no.: BAV573), TFI Asset Management Limited (SFC CE no.: ASF056) and TFI Capital Limited (SFC CE no.: BPW736) (collectively, “TF International Group”). The information contained herein may be based on certain assumptions and is solely for non-commercial and reference purposes by professional investors. It may be subject to change any time due to economic, market and other conditions without prior notice.

2.Any media, website or individual may not reproduce, link, post or otherwise copy and publish this document and any content without authorisation. When using this document or any content, authorised parties must specify that the information comes from TF International Group, and promise to comply with relevant laws and all applicable international practices. They shall not use this document for any illegal purpose or in any illegal way. Violators will be held liable as provided for by law.

3.The data or information cited in this document may come from a third party. TF International Group will try its best to confirm the reliability of the source but assume no liability or responsibility for the accuracy of the data or information provided by the third party. TF International Group makes no warranty, representation, guarantee or promise, express or implied, nor bear any liabilities for the fairness, accuracy, timeliness, completeness or correctness of any data, forecasts and / or opinions contained in this document and the basis on which any such forecasts and / or opinions are based. If there are contents similar to forward-looking statements contained in this document, such content or statements shall not be regarded as a guarantee of future performance. Caution should be taken that actual circumstances or developments may differ materially from such statements.

4.This document is not and should not be constituted any offer, solicitation, invitation or recommendation to buy or sell any investment product. It is also not and should not be regarded as the basis for investment decisions, nor should it be interpreted as professional advice. Individuals who read this document should, before making any investment decisions, fully understand the risks, relevant laws as well as taxation and accounting features and consequences. They should decide whether the investment matches their investment objectives and whether the risks can be borne in view of their personal circumstances. Appropriate professional advice should be sought when necessary. Investment involves risks. Investors should be aware that the value of securities and investments can rise and fall. Past performance may not be indicative of future performance. In some countries, the circulation and distribution of this document may be restricted by law or regulations. Those accessing this document must be aware of and comply with those restrictions.

#TFInternational

Carousell Recommerce Index 2021 Reveals Singaporeans’ Top Reasons for Choosing Secondhand as Making Smart Purchases and Sustainability Consciousness

  • 74% of Singaporeans cite value for money as their reason for choosing secondhand, higher than regional average of 67%
  • 30% of Singaporeans cite environmental reasons, tying with Taiwan for second place in the region

 

SINGAPORE – Media OutReach – 30 November 2021 – According to the first Carousell Recommerce Index, led by Carousell Group, the leading classifieds group in Greater Southeast Asia, 74% of Singaporean users opt for secondhand because of its value for money. This is higher than the Carousell Group’s average of 67%, and the third-highest market with an inclination towards pragmatism as their go-to reason for secondhand, closely after Hong Kong (82%) and Malaysia (78%).

 

Recommerce refers to the selling and buying of previously-owned products, including both new and used in condition. The Carousell Recommerce Index (2021 Report) is a Carousell Green initiative to highlight the importance of sustainability and recommerce in the Greater Southeast Asia region. The report covers findings from four Carousell Group brands—Carousell, Cho Tot, Mudah and OneKyat—across eight markets—Hong Kong, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Taiwan and Vietnam.

 

Singapore also ranks highly across various areas when it comes to sustainability and making secondhand the first choice. 30% of respondents, who have bought secondhand items before, say they choose to buy secondhand for environmental reasons. This is higher than the regional average of 21%, tying Singapore and Taiwan for second place.

 

Overall in the region, Fashion remains the top category with the most secondhand listings (29%). Women’s Fashion has consistently dominated the top spot across the region, and Men’s Fashion has grown increasingly popular to rank second. This is similar for Singapore, with Women’s Fashion as the most popular secondhand category in 2018 and 2019. In 2020, Hobbies & Toys rose in demand by 29% to take first place from Women’s Fashion in Singapore, as more look to secondhand items for entertainment during the pandemic. With upcycling entering the public’s zeitgeist in the past few years, secondhand furniture has grown fivefold regionally in the past five years, and Furniture & Home Living category has consistently ranked third in Singapore for the most supply of secondhand listings.

                                                                                                           

Carousell Group continues to make headway in fostering secondhand. Its recent investment of US$100 million from STIC Investments will see the Group reimagining the classifieds experience with a focus on convenience and trust, powering more authentication initiatives in the pipeline, to make secondhand the first choice. To help extend the lifespan of electronics, Carousell launched Certified Electronics in Singapore to provide users with a safe space to buy secondhand electronics with ease. Working with professional sellers and partners, buyers are assured that proper quality checks have been conducted to ensure full working condition of the mobile phones before their purchase, and each purchase comes with the assurance of a 12-month warranty. Since its beta launch in February 2021, there has been a 57% month-on-month increase in sales and the numbers continue to trend upwards.

 

Carousell also rallies its community to create a flywheel of giving, with Singapore’s always-on #blessings campaign with its latest initiative partnering charities, which was inspired by generous users who listed items for free using the hashtag #blessings. The popularity of the #blessings campaigns led to a dedicated Free Items category that is now available in Singapore, Hong Kong, Taiwan, Malaysia and the Philippines on Carousell, as well as Chợ Tốt in Vietnam and OneKyat in Myanmar.

 

Lucas Ngoo, Co-founder, Carousell Group said, “As a pioneer for mobile classifieds in the region, Carousell Group has been constantly working to remove friction and enable secure, seamless transactions. With the use of AI and data, we have been focused on accelerating our recommerce leadership in the region to make buying secondhand trusted and convenient. This, in turn, will help to solve the meaningful problem of overconsumption with recommerce and thus make secondhand the first choice for consumers.”

 

The Carousell Recommerce Index (2021 Report) is available for download here.

About Carousell Group

Carousell Group is the leading classifieds group in Greater Southeast Asia on a mission to inspire the world to start selling, and to make secondhand the first choice. Founded in August 2012 in Singapore, the group has a leading presence in eight markets under the brands Carousell, Mudah.my, Cho Tot and OneKyat, serving tens of millions of monthly active users. Carousell is backed by leading investors including Telenor Group, Rakuten Ventures, Naver, STIC Investments and Sequoia Capital India. Visit here for more information.

#CarousellGroup

Authorities to Discuss Methods for Addressing High Fuel Prices in Laos

Government losing money from dodgy fuel transactions.
Lao government losing money from dodgy fuel transactions (Photo: Lao Economic Daily).


Authorities in Laos have begun attempts to address high fuel prices faced by the country amid the volatile global market.

TECNO made a grand debut at JD.COM Indonesian (JD.ID) Electronic Festival

JAKARTA, INDONESIA – Media OutReach – 30 November 2021 – Recently, TECNO made a grand debut at JD.COM Indonesian (JD.ID) Electronic Festival. This is also a big public debut of TECNO after JD.ID and TECNO entered into a strategic cooperation. TECNO has a global sales network with a wide range of products, including smartphones, feature phones and tablets. It is precisely because of TECNO’s overseas business value that JD.ID has entered into a strategic partnership with it. As the national agent of TECNO brand, JD.ID now exclusively sells TECNO’s full range of products.

 

https://youtu.be/BSBlm-Rofdg

 

As one of the first dual-SIM phone brands in the African market, TECNO follows the concept of “Think globally, Act locally” and is committed to transforming popular science and technology into local products. TECNO’s innovation is not a technological innovation, but a real effort to develop cell phone features in line with the habits of African consumers. For example, the photography is more suitable for Africans; the built-in music is also a lively dance atmosphere that Africans like. The locals like the tailor-made phone, plus TECNO’s low-price strategy works very well in Africa, where economic development is relatively lagging. Thanks to TECNO, Africans can now have an entry-level smartphone for $50 to $100. TECNO has managed to be among the Top 3 in the African cell phone market in terms of sales. In 2016, as the second step of the company’s global strategy, TECNO announced its “Think globally, Act locally” approach to India’s emerging market which is still the same concept, TECNO follows in Indonesia.

 

Meanwhile, the African market remains TECNO’s stronghold. In 2018, TECNO’s total market share in Africa rose to No. 1, ranking 4th among global mobile brands. Since then, TECNO has been selected as one of the “Leading Chinese Cross-border Brands – The Top 50” jointly published by Facebook and KPMG, and won the “Twitter Most Influential Overseas Brand Award”.

 

It is worth mentioning that JD.ID has become one of the most trusted platforms for Indonesian people through its reliable, fast and safe services. It is believed that with the escort of JD.ID, TECNO will most likely replicate its glory in Africa, further enter Southeast Asia and fully develop its force in the global emerging market.

 

#JD.ID

CrimsonLogic Signs Milestone MOU To Establish a Digital Trade Corridor To Promote Asia-Europe Trade Routes

MOU partners – KTZ Express and Digital Silk Way set to develop Kazakhstan as critical transit between the two continents

SINGAPORE / NUR-SULTAN, KAZAKHSTAN – Media OutReach – 30 November 2021 – CrimsonLogic, a leading global provider of Trade solutions, products and services headquartered in Singapore, has signed a Memorandum of Understanding (MOU) with KTZ Express (a subsidiary of Kazakhstan Rail Company and a national logistics operator) and local IT partner – Digital Silk Way to collaborate and establish a Digital Trade Corridor to promote trade for the region and beyond.

The proposed Digital Trade Corridor initiative will serve the Trans-Caspian International Transport Route, which starts from Southeast Asia and China, through Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and beyond to Europe.  This initiative is closely aligned to Kazakhstan-2050 Strategy* to enhance economic pragmatism and support entrepreneurship.  With the increased trade flow between Asia and Europe, Kazakhstan is centrally positioned to serve as a logistic hub, especially for critical markets such as China. 

The core of this Corridor is an integrated solution consisting of CALISTA (a supply-chain orchestration platform by GeTS, a subsidiary of CrimsonLogic) and another solution with local partner Digital Silk Way.  This initiative will facilitate better B2B2G trade regulatory compliance and improves global trade connectivity digitally.  KTZ Express will be the flagship logistics operator for this integrated Digital Trade Corridor for Kazakhstan and Central Asia. 

 

Mr Saw Ken Wye, Chief Executive Officer of CrimsonLogic said: “In this new norm, the world is seeing increased pressure on the global supply-chain.  With this new Digital Trade Corridor, it will make it easier to facilitate trade via the Trans-Caspian International Transport Route, providing shippers and carriers more options, especially to land-locked countries.  As a long-term strategic tech player in Kazakhstan, CrimsonLogic is delighted to enter this MOU with like-minded partners such as KTZ Express and Digital Silk Way to help elevate the country’s status as a global logistic hub.”

 

Mr Nurlan Igenbayev, CEO of KTZ Express said: “Our cooperation will accelerate the transition to paperless technology for shippers and consignees to transport goods.  Most importantly, this will strengthen international cooperation, increases transit traffic through Kazakhstan, expands the market for transport services, as well as creating new logistics chains.”

Mr Doszhan Zhussupov, CEO of Digital Silk Way said: “We believed that increasing the effectiveness of the Trans-Caspian International Transport Route and transforming the related digital infrastructure will best serve Kazakhstan and stakeholders in the trade and logistic community in Asia and Europe.  We are taking on the challenge to transform existing processes to create a single platform that can provide seamless document flow digitally connecting China to Europe in the appropriate forms and languages.  The platform will be powered by our CrimsonLogic and GeTS partners, and with their extensive experience in trade facilitation and logistics, it will definitely transform the business environment in this region.”


*Source: Strategies and programs — Official website of the President of the Republic of Kazakhstan (akorda.kz)

About CrimsonLogic

CrimsonLogic is a partner to governments and businesses globally. For over 30 years, CrimsonLogic has partnered customers to innovate sustainable world-class solutions, products and services in Trade, Legal and Digital Government, enabling significant transformations that have positively impacted governments, businesses and communities.

#CrimsonLogic

Comba Continues to Drive Open RAN Transformation through O-RU Portfolio

Introduces TIP-compliant Tri-band Remote Radio Unit for Global Open RAN Market

HONG KONG SAR – Media OutReach – 30 November 2021 – Comba Telecom Systems Holdings Limited (“Comba Telecom” or “the Group”, SEHK stock code: 2342), a global leading wireless solutions provider, today announced that Comba Network Systems Company Limited (“Comba Network”), an indirect subsidiary of Comba Telecom, has introduced the new TIP-compliant Tri-band Remote Radio Unit (“RRU”) to help accelerate Open RAN transformation worldwide.

 

Engineered with Multi-TRX and Multi-RAT radio technology, the high-power tri-band RRU supports MIMO and multi-generation cellular technology, including legacy 2G/3G/4G and future upgrades to 5G radio access network systems. With the compact design and high-power efficiency feature, the multi-band RRU enables true interoperability and requires less equipment, installation time, power consumption, and space for network upgrades and enhancements. It also facilitates mobile service providers to deploy an Open RAN system with optimized Total Cost of Ownership, shortened time to market, simplified future network upgrades, and guaranteed high service quality.

 

As an active participant in the Telecom Infra Project’s (TIP) Open RAN Project Group, Comba Network is devoted to TIP’s O-RU initiatives and offers a range of TIP-compliant and all-G supported open radio units for the global development and deployment of Open RAN solutions. The newly introduced tri-band RRU was recently awarded the TIP Requirements Compliant Ribbon and is listed on TIP Exchange along with the complete RRU series of Comba Network.

 

Ms. Marie Ma, General Manager of Comba Telecom Network Systems Limited, said, “Over the past few years, Comba Network has developed a remarkable Open RAN footprint in global markets with leading service providers and ecosystem partners. Comba Network is committed to R&D innovation, providing global customers with a full range of radio products in line with the RAN modernization requirements and open fronthaul interoperability transformation. We believe that the extension of the Open RAN RRU product line will optimize the deployment process for operators and create immense business value. We will continue our efforts to introduce more open radio products to expand product diversity in the marketplace further and boost our competitiveness.”

 

Mr. David Hutton, Chief Engineer of TIP, said, “TIP works with Open RAN stakeholders to test and validate open network products and solutions to reduce time to market and simplify procurement. The TIP Requirements Compliant Ribbons awarded to Comba Network demonstrate their product maturity. We are excited to see an expansion in TIP-compliant hardware product line, and hope that more products and solutions with open interfaces emerge to enrich the ecosystem.”

 

For more information about Comba’s Open RAN Solution, please visit https://www.comba-telecom.com/en/openran-solutions.

 

About Comba Telecom Systems Holdings Limited

Comba Telecom is a global leading wireless solutions provider with its own R&D facilities, manufacturing base and sales and service teams. The Company offers a comprehensive suite of products and services including antennas and base station subsystems, network systems, services, and wireless transmission to its global customers. Headquartered in Hong Kong, with manufacturing bases and R&D centers in China, Comba Telecom provides wireless communication solutions and information application services to customers in more than 100 countries and regions around the world. Comba Telecom was included in the MSCI Hong Kong Small Cap Index in November 2019. Furthermore, the Company was included as a constituent stock of Hang Seng Composite SmallCap Index, Hang Seng Internet & Information Technology Index and other Hang Seng Family of Indexes, and the China-Hong Kong Stock Connect under the Shenzhen-Hong Kong Stock Connect in September 2020. For further information, please visit: www.comba-telecom.com

About Comba Network Systems Company Limited

Comba Network is principally engaged in manufacture and sale of wireless telecommunications network system equipment and provision of related comprehensive solutions. It currently focuses on research and development, manufacture and sale of network system products, including macro cells, small cells, related extended & in-depth coverage solutions and Open RAN products as well as providing network solutions for 5G vertical industry. The Group currently holds 79.37% of the equity interest in Comba Network.

#Comba

HOPE TeleCare Myanmar and JV Partner DOC2US Bring Home HealthTech Recognitions at the ASOCIO 2021 Awards

YANGON, MYANMAR – Media OutReach – 30 November 2021 – HOPE TeleCare, Myanmar’s all-in-one digital healthcare platform and JV Partner, DOC2US bagged the Asian-Oceanian Computing Industry Organisation (ASOCIO) 2021 award in the HealthTech segment, recognising HOPE TeleCare’s goal of helping individuals get accessible, affordable, and equitable healthcare services in urban and rural areas.

 

The Asian-Oceanian Computing Industry Organisation (ASOCIO) is an ICT federation organised by ICT associations representing 24 economies throughout Asia Pacific, to promote, encourage, and foster relationships and develop the computing industry in the region.

 

“We are thrilled to receive this award alongside our partner DOC2US, knowing that we have used digitalisation to make healthcare available to individuals from all walks of life through our platforms. At HOPE TeleCare, we firmly believe that everyone should have the right to basic healthcare. This award not only recognises our efforts with patients across the country, but also motivates us to continue working towards an improved healthcare ecosystem for the people of Myanmar,” said U Htun Htun Naing, Chairman of HOPE TeleCare Myanmar,left in photo posing with the awards and Operation Manager Dr May Zon Soe, Head of Business Development Kaung Htet.

In addition to the awards received at the ASOCIO 2021, HOPE Telecare was also celebrated at the World Information Technology and Services Alliance (WITSA) 2021 Global ICT Excellence Awards under the Innovative eHealth Solutions for Private Sector/NGO.

 

As HOPE’s technical partner, DOC2US provides the robust backend system that runs and supports the digital healthcare platform.

 

“We would like to thank PIKOM for this nomination. We are truly honoured to receive this award as it is a true reflection of our commitment to encouraging digitalisation in healthcare and a recognition of our work in advancing the digital healthcare space locally and beyond. We are committed to continuing to provide a more accessible and connected healthcare platform to all Malaysians as well as work together with our partners in the region move forward in this digital era”, said Dr Raymond Choy, Chief Executive Officer of DOC2US.

 

The first telemedicine provider that issues digitally signed e-prescriptions in Malaysia, DOC2US has helped alleviate the struggles of Malaysians by providing access to healthcare professionals through its platform. During the height of the COVID-19 pandemic and during movement restrictions, DOC2US has helped over half a million Malaysians connect with doctors and healthcare professionals any time, anywhere.

#HOPETeleCare

Carousell Recommerce Index finds Taiwan is second in region for sustainability and secondhand purchases

86% of Taiwanese users have made secondhand purchases before, and the biggest motivating factor is environmental reasons

TAIPEI, TAIWAN – Media OutReach – 30 November 2021 – According to the first Carousell Recommerce Index, led by Carousell Group, the leading classifieds group in Greater Southeast Asia, 86% of Taiwanese users have bought secondhand items before. This is higher than the Carousell Group’s average of 72%, and the second highest market after the Philippines (92%).

 

Recommerce refers to the selling and buying of previously-owned products, including both new and used in condition. The Carousell Recommerce Index 2021 Report is a Carousell Green initiative to highlight the importance of sustainability and recommerce in the Greater Southeast Asia region. The report covers findings from four Carousell Group brands—Carousell, Cho Tot, Mudah and OneKyat—across eight markets—Hong Kong, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Taiwan and Vietnam.

 

Taiwan ranks highly across various areas when it comes to sustainability and making secondhand the first choice. 30% of respondents, who have bought secondhand items before, say they choose to buy secondhand for environmental reasons. This is higher than the regional average of 21%, tying Taiwan and Singapore for second place. 11% of Taiwanese respondents also say they only buy secondhand where possible.

 

Hidden preloved earning potential of NT$20,000 and above

Regionally, respondents had an estimated 102,556 unwanted items, or an average of 35 items per user, at home that could be sold. Taiwan ranks second with an average of 52 estimated unwanted items that could be sold per user, very close to first place Indonesia that had an estimate of 57. Taiwan is also one of the markets with many users forecasting up to 100 unwanted items that could be sold. Of these unwanted items at home, 13% of Taiwanese respondents estimate they could earn above NT$20,000 if they sold all the items.

 

Fashion is the top choice for secondhand

Apparel is the top category that Taiwanese users feel most comfortable to buy (52%) and sell (62%) secondhand. This is no surprise since it has led demand and supply for the past three years, from 2018 to 2020. Tops are most popular for both Women’s and Men’s Fashion, followed by women’s bottoms and dresses. A growing category for secondhand is Luxury which grew to rank third in terms of demand in 2020, and saw listing views increase by 14%.

 

This trend continues in 2021 where we have observed rapid growth, especially in the Women’s Fashion category. Comparing from mid-May, when Covid cases started to increase, to mid-August 2021, there was a 99% increase in browses for Women’s Fashion, and a 41% increase in listings created.

Growing recommerce in the region

“While recommerce is already gaining traction in Europe and the United States, it is still in its infancy in the Greater Southeast Asian region, especially Taiwan. Carousell Group created the report to better understand the market and sentiments towards secondhand. It is inspiring to see Taiwan leading the sustainability charge among our markets, and the huge potential for everyday Taiwanese users to not only benefit from recommerce, but to also make changes to save the planet. It is an affirmation of us increasing our recommerce efforts for Taiwan, and we will continue to work to increase the trust and convenience in buying and selling secondhand,” said Penny Cox, Head of Recommerce, Carousell.

 

Carousell Taiwan has been partnering with 7-Eleven Shipping since 2017 to enable users to transact smoothly, safely and reduce their carbon footprint. Users also have the option to donate their e-invoices to a list of charities, most of which are environmental-related.

This year, Carousell launched the Free Items category in Taiwan to help users to list and browse items to give away more quickly. Free Items category listings can move four times faster than the other General Classifieds categories. In another one of our initiatives for Earth Day, our online charity flea market, where we donated NT$10 to the Leopard Cat Association of Taiwan for every participating listing sold, garnered over 12,000 listings.

 

Lucas Ngoo, Co-founder, Carousell Group said, “As a pioneer for mobile classifieds in the region, Carousell Group has been constantly working to remove friction and enable secure, seamless transactions. With the use of AI and data, we have been focused on accelerating our recommerce leadership in the region to make buying secondhand trusted and convenient. This, in turn, will help to solve the meaningful problem of overconsumption with recommerce and thus make secondhand the first choice for consumers.”

 

The Carousell Recommerce Index (2021 Report) is available for download here.

About Carousell Group

Carousell Group is the leading classifieds group in Greater Southeast Asia on a mission to inspire the world to start selling, and to make secondhand the first choice. Founded in August 2012 in Singapore, the Group has a leading presence in eight markets under the brands Carousell, Mudah.my, Cho Tot, OneKyat and Ox Street, serving tens of millions of monthly active users. Carousell is backed by leading investors including Telenor Group, Rakuten Ventures, Naver, STIC Investments and Sequoia Capital India. Visit here for more information.

#CarosellGroup