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Asia logistics tech startup Pickupp raised US$37 million Series B funding, closing its third fundraise in 13 months

  • Closing its third fundraising in 13 months, the funding is led by Jardine Matheson, a diversified Asian-based group with a broad portfolio of market-leading businesses.
  • The US$37 million funding will be used to deepen Pickupp’s presence in Asia, including expansion of service and dispatch network in Singapore.
  • The funding also supports and strengthens Pickupp’s network infrastructure in Singapore amid the soaring growth of quick commerce and e-commerce.

 

SINGAPORE – Media OutReach – 8 December 2021 – Pickupp, the Asia tech startup redefining logistics, today announced it has raised another US$37 million in Series B funding. This third round of funding follows its initial Series A round in November 2020, and Series A+ round in July 2021.

Pickupp aims to improve the efficiency of deliveries during peak traffic hours and decarbonise its operations by increasing its walker and rider delivery agent pool.

 

Jardine Matheson led the Series B round. They were joined by existing investors including Reefknot Investments, Cathay Venture Inc., PChome Online Inc., DRIVE Catalyst (the corporate venture arm of Far Eastern Group), and Swire Properties.

 

The funding will be used to deepen its presence in Asia and to strengthen Pickupp’s regional logistics network infrastructure, ensuring that the company is better positioned to propel continued growth in quick commerce and e-commerce.

 

Building strategic partnerships through tech integration

 

The Series B funding is a significant step in Pickupp’s development; the funding will enable the company to execute a more holistic business plan, and from a strategic perspective, support investors’ businesses and online strategies. Crystal Pang, co-founder and CEO of Pickupp said: “This financing round is a major milestone for our rapidly growing business in Asia and it’s great to have such strong and continuous support from investors across the region in the past 13 months. We pride ourselves on being an innovative logistics technology company that supports our customers and strategic partners with tech integration and digital-first strategy amid exponential e-commerce growth.”

 

“As a diversified Asia-based group with unsurpassed experience in the region, we are delighted to be the lead investor in Pickupp’s Series B funding. Like Pickupp, Jardine Matheson shares a commitment to technology and innovation, and we see significant opportunities arising from future strategic partnerships,” said Anne O’Riordan – Group Director of Digital at Jardine Matheson.

“We are seeing more strategic partnerships growing across the e-commerce and logistics industries. Recently, we have been supporting PChome with our last-mile delivery service, which enables them to deliver the best seamless O2O experience driven by technology and innovation. This round of investment once again demonstrates our customers’ faith in the capability and reliability of our last-mile delivery services, which have earned the trust of notable MNCs and digital-first businesses,” said Crystal. “With digital infrastructure advancing in the region, the possibilities for mutually beneficial partnerships such as this are growing.”

 

Propelling growth in Singapore and Building “Logistics Network as a Service”

 

Founded in 2016, Pickupp is redefining logistics with its transparent customer-centric service and technology. Its customised last-mile delivery services and trademark technology have earned a loyal customer base from notable MNCs and logistics giants to retail and e-commerce.

 

In the last 13 months, Pickupp has expanded rapidly while continuously diversifying its product portfolio and offerings across all industries and verticals. Pickupp will introduce 10 new satellite warehouses across heartland areas in Singapore by mid-2022. The expansion of these service points, which provides pick up and drop services, micro-fulfilment and warehousing as well as cross-border services, is aligned with Pickupp’s goal of improving the efficiency of deliveries during peak traffic hours and decarbonising its operations by increasing its walker and rider delivery agent pool.

 

“Quick commerce is becoming more prevalent in Singapore, with more consumers venturing online to purchase groceries and daily necessities. This trend has increased the demand for flexible and faster deliveries, raising the bar for service standards in the last-mile delivery space,” said Lee Chee Meng, co-chief operating officer of Pickupp. “Investments in our technology and the expansion of our satellite networks will remain a vital part of our operational strategy as we aim to provide our customers with the most reliable and efficient delivery services.”

 

To date, Pickupp has worked with 24,000 merchants, with more than 100,000 delivery agents onboard across all regions. The company has seen a user base growth of 94% since 2021, driven by the growing demand of the digital economy.

About Pickupp

Pickupp is a data driven supply chain platform redefining logistics with its transparent customer-centric service and technology. Founded in 2016, the company has operations in Hong Kong, Singapore, Malaysia and Taiwan, providing logistics support to 24,000+ businesses spanning MNCs, logistics giants as well as retail and e-commerce. They also have a strong delivery team of over 100,000 delivery agents across all cities.

Pickupp provides flexible, tech-driven logistics solutions that enable businesses of all sizes to scale and thrive. Through highly optimised batching and chaining technology, customers can optimise seasonal fulfilment and delivery needs without sacrificing speed and cost, while real-time GPS tracking provides end-to-end transparency. Pickupp’s flexible delivery windows and their handy scheduling feature enable customers to be nimble and capitalise on local and cross border business opportunities. Pickupp launched Shop On Pickupp, a one-stop e-commerce platform offering all-rounded payment and tech-enabled delivery solutions for businesses in 2020. For more information, please visit our website at https://pickupp.io/en/.

Facebook: https://www.facebook.com/sgpickupp

Instagram: pickupp.sg

Linkedin: https://www.linkedin.com/company/pick-upp

#Pickupp

The issuer is solely responsible for the content of this announcement.

Chubb appoints Kevin Bogardus to lead Singapore’s business

SINGAPORE – Media OutReach – 8 December 2021 – Chubb today announced the appointment of Kevin Bogardus as the Country President for its Singapore business, subject to regulatory approval. Mr. Bogardus replaces Scott Simpson who has been appointed as President for Chubb’s operations in Hong Kong and Macau.

 

In his new role as Country President for Singapore, Mr. Bogardus will have overall responsibility for the growth and financial results of the operations across all lines of business i.e.  Property & Casualty, Accident & Health and Personal Lines. He will also manage all affinity partnerships and drive efforts to deepen and grow these. Mr. Bogardus is currently the Country President for Chubb in China. He will relocate from China to Singapore for his role and will report to Edward Ler, Chubb’s Executive Vice President and Head of Southeast Asia. 

 

Mr. Bogardus has more than 25 years of experience in the insurance industry having begun his career at Winterthur Insurance where he helped establish offices for the company in Beijing, Tianjin, Shanghai, Guangzhou and Ningbo and ultimately, securing the first operating license for a European insurance company in China. Over the years, he has worked for reinsurance and broking firms in roles of increasing responsibility. He joined Chubb in 2009 as Chief Advisor to Huatai Insurance Group Company Limited, where Chubb is the largest shareholder. Under his leadership, Chubb’s footprint in China grew and the business expanded into new product lines becoming the market leader in segments such as Life Sciences, Financial Lines and Chinese multinational programs.

 

According to Mr. Ler, “Kevin is entrepreneurial, driven and leads by example.  I’m confident of his leadership to grow and strengthen Chubb’s niche as a pre-eminent provider of risk management solutions in Singapore, a strategically important market for our business in the region”.

About Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide.

Additional information can be found at: www.chubb.com .

#Chubb

The issuer is solely responsible for the content of this announcement.

Chubb appoints new leader for Hong Kong’s general insurance business

SINGAPORE – Media OutReach – 8 December 2021 – Chubb today announced the appointment of Scott Simpson as the new President for its general insurance businesses in Hong Kong and Macau, subject to regulatory approval. Mr. Simpson replaces Doug White who will return to his former role as Chubb’s Head of Major Accounts for Asia Pacific, a premium service division dedicated to offering underwriting, risk engineering and claims for the region’s large, global and multi-national clients and business partners.

 

As the new President for Hong Kong and Macau, Mr. Simpson will have overall responsibility for the growth and financial results of the operations across all lines of business i.e.  Property & Casualty, Accident & Health and Personal Lines. Prior to this new appointment, he has been serving in a similar capacity as Country President for Singapore since 2018.

 

Mr. Simpson joined Chubb in 2005 as a Commercial Lines Underwriter in Sydney and since then, has held numerous leadership roles including Branch Manager for Melbourne and Head of Northern Region, spanning New South Wales and Queensland. In his new role, Mr. Simpson will relocate from Singapore to Hong Kong and will report to Paul McNamee, Regional President for Chubb in Asia Pacific.

 

On this change in leadership, Mr. McNamee said, “Scott is a strong leader with a proven track record of success. His business acumen and stewardship will help steer our business to a level that matches the ambition and opportunity which Hong Kong and Macau afford us.”

 

About Chubb

Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 31,000 people worldwide.

Additional information can be found at: www.chubb.com.

#Chubb

The issuer is solely responsible for the content of this announcement.

Manulife strengthens presence in Kowloon East with Grade A office building renamed ‘Manulife Place’

Renovated 145,000 sq ft office space to cater to rapid agency force expansion

HONG KONG SAR – Media OutReach – 8 December 2021 – Manulife Hong Kong today announced the official renaming of International Trade Tower (ITT) in Kowloon East to ‘Manulife Place’, effective December 8. As the anchor tenant occupying four floors, Manulife has moved part of its agency force to the newly renovated 145,000 square-foot office space. The new office marks another strategic investment Manulife has made in Hong Kong as the company targets long-term, annual double-digit growth in its agency headcount to accelerate its business performance.

 

Manulife Place (formerly known as International Trade Tower) will be home to up to 3,400 Manulife agents.

 

“We are excited to broaden our footprint into another Grade-A building, now called Manulife Place. This move is a significant milestone for Manulife in Hong Kong, demonstrating our continued commitment to investing in this important market and meeting the needs of Mainland Chinese Visitors as the borders gradually reopen,” said Damien Green, Chief Executive Officer of Manulife Hong Kong and Macau. “Our pre-eminent insurance agency force with over 11,000 advisors in Hong Kong has been the key contributor to the growth of our business. By equipping them with best-in-class facilities, they can further provide enhanced services as the company continues to expand and change the market order.”

 

Manulife Place is the company’s fourth office in Kowloon East, underpinning its ambitious long-term growth strategy in the city and the Greater Bay Area region. The newly refurbished four floors will initially be occupied by 2,400 agents, and can house up to 3,400 agents when used in full capacity. The open office space is designed to foster greater collaboration, promote learning, and nurture inclusion among agency teams. It includes digitally-enabled meeting and training rooms to allow for increased flexibility and productivity, spacious common areas to encourage communication and creativity, and a comfortable and expansive front of office to welcome and serve customers visiting their agents in Manulife Place.

 

The lease agreement signed in April this year is Hong Kong’s largest Grade A office leasing deal since July 2019 and the largest in Kowloon East since April 2018 in terms of net floor area[1].

 

“We are proud to have a strong and outperforming agency force that serves as the backbone to the success of our Hong Kong business,” said Mr. Green. “As a leading insurance player in health and retirement, Manulife will remain committed in our investment towards products, distribution capabilities, customer experience as well as community support so that people can live every day better.”



[1] Based on statistics of CBRE Hong Kong.

About Manulife Hong Kong

Manulife Hong Kong, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited and Manulife Provident Funds Trust Company Limited. As a member of the Manulife group of companies, Manulife Hong Kong offers a diverse range of protection and wealth products and services to individual and corporate customers in Hong Kong and Macau.

About Manulife

Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our global wealth and asset management segment, we serve individuals, institutions and retirement plan members worldwide. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of September 30, 2021, we had CAD$1.4 trillion (HK$8.6 trillion) in assets under management and administration, and in the previous 12 months we made CAD$31.6 billion in payments to our customers.

Our principal operations are in Asia and Canada, and the United States, where we have served customers for more than 155 years. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

#ManulifeHongKong

The issuer is solely responsible for the content of this announcement.

Trend Micro Prediction Report Forecasts Cyber Fightback in 2022

Report offers actionable insights for overburdened security teams

HONG KONG SAR – Media OutReach – 8 December 2021 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today predicted global organizations will emerge more alert and better prepared in 2022 thanks to a comprehensive, proactive, cloud-first approach to mitigating cyber risk.

 

Research, foresight, and automation are critical for organizations to manage risk and secure their workforce. Trend Micro blocked 40.9 billion email threats, malicious files and malicious URLs for customers in the first half of 2021 alone – a 47% year-over-year increase.

 

“We have more cybersecurity researchers embedded across the globe than any competitor, and those insights and discoveries are used widely within the industry and power our own product offerings,” said Tony Lee, Head of Consulting, Hong Kong and Macau, at Trend Micro. “These teams power much of the threat intelligence for which we are renowned.”

 

Trend Micro researchers predict that threat actors in 2022 will focus ransomware attacks on cloud and datacenter workloads and exposed services to take advantage of the large number of employees continuing to work from home. Vulnerabilities will be weaponized in record time and chained with privilege escalation bugs to drive successful campaigns, according to the report.

 

“It’s been a tough couple of years for cybersecurity teams, disrupted by work-from-home mandates and challenged as corporate attack surfaces have exploded in size,” said Lee. “However, as hybrid work emerges and more certainty returns day-to-day, security leaders will be able to plot a robust strategy to plug gaps and make the bad guys work much harder.”

 

IoT systems, global supply chains, cloud environments, and DevOps functions will be in the crosshairs. More sophisticated commodity malware strains will be aimed at SMBs.

 

However, Trend Micro predicts that many organizations will be ready for the challenge as they build out and implement a strategy to proactively mitigate these emerging risks via:

  • Stringent server hardening and application control policies to tackle ransomware
  • Risk-based patching and a high-alert focus on spotting security gaps
  • Enhanced baseline protection among cloud-centric SMBs
  • Network monitoring for greater visibility into IoT environments
  • Zero Trust principles to secure international supply chains
  • Cloud security focused on DevOps risk and industry best practices
  • Extended detection and response (XDR) to identify attacks across entire networks

To read a full copy of Trend Micro’s 2022 predictions report, please visit: https://www.trendmicro.com/vinfo/hk/security/research-and-analysis/predictions/2022 

 

About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk


#
TrendMicro

Laos Confirms 1,209 New Cases of Covid-19 and Five Deaths

Bokeo Covid Update


Laos has recorded 1,209 cases of Covid-19 across the country today, with five new deaths confirmed.

Laos Begins AFF Suzuki Cup 2020 with 2-0 Loss to Vietnam

Laos Striker Billy Ketkeophomphone during the AFF Suzuki Cup 2020
Laos Striker Billy Ketkeophomphone during the AFF Suzuki Cup 2020.


Laos has made an unfortunate start to the AFF Suzuki Cup 2020 losing to Vietnam who scored two goals during the opening match of Group B.

Heritage Brand Yun Nam Hair Care Partners With Social Media Influencers to Promote a More Youthful Image

SINGAPORE – Media OutReach – 8 December 2021 – Well known heritage brand Yun Nam Hair Care is reaching out to younger consumers with the help of popular social media influencers like Mongchin Yeoh, better known to her Instagram followers by her handle, Mongabong.

 

Over the past decade, social media has become an integral part of people’s lives. In this age when digital technology reigns supreme, it is no wonder that brands large and small see the value in collaborating with online personalities to increase brand awareness, and share reviews of their products, especially to younger audiences.

 

Famous for their herbal hair treatments featuring premium Chinese herbs such as ginseng, dang gui and he shou wu, Yun Nam Hair Care has been helping individuals in the island city with their hair and scalp issues for over 37 years. Traditional Chinese Medicine (TCM) and cutting-edge technology work hand-in-hand in the creation of Yun Nam’s anti-hair loss treatments. Reduced hair fall, increased hair growth, and a healthier scalp are among the promised effects of their treatment sessions. 

 

Rising Trends in Brand-Influencer Partnerships

 

The trend towards partnering with social media influencers has seen brands not only reach a wider range of interested audiences, but also gain the trust of consumers via the mediated presence of the influencer.  Already, the Covid-19 pandemic has proven that social media can be an effective way of communicating useful healthcare information.

 

Many brands have also diversified their online presence through creating their own social media channels. Mongabong has also participated in multiple YouTube videos filmed in conjunction with Yun Nam Hair Care, including one of her reviewing her favourite hair care treatments, and another on scalp care tips for beginners.

 

Yeoh might be one of the brand’s fresher faces, but this hair care brand has no shortage of famous fans. Popular media personality in Singapore, Dennis Chew, and veteran actress Xiang Yun are numbered among the numerous homegrown celebrities who’ve appreciated Yun Nam’s hair and scalp solutions.

 

The herbal solutions offered by Yun Nam are customised to every individual’s unique hair and scalp conditions to ensure that root causes are eliminated to restore hair to its natural healthy state. Interested parties can sign up for a $28 trial session of Yun Nam’s signature hair and scalp treatment.

 

Yun Nam’s New Customer Feedback and Review System

 

Regardless of the famous faces that have publicly endorsed the brand, it is undeniable that Yun Nam has made their mark as a reputable brand in the consciousness of Singapore consumers. This is evidenced in their yearly receipt of the Reader’s Digest Trusted Brand Award for 8 consecutive years. This award is bestowed based on consumer votes towards the different brands that have added significant value to their lives.

 

The hair care brand has recently launched a feedback system, aptly named “WeCare”. This system allows customers to leave their review upon the completion of each treatment session, to ensure high service standards remain upheld. 

 

About Yun Nam Hair Care

Established in 1984, Yun Nam Hair Care is a multi-award winning heritage brand known for providing customers in Singapore with herbal hair solutions. Modern technology meets Traditional Chinese Medicine (TCM) in the creation of Yun Nam Hair Care’s natural hair remedies that help reduce hair fall and promote the growth of a healthy crown of hair. For more information, visit https://yunnamhaircare.com.sg/.

Facebook – https://www.facebook.com/YunNamSG

Instagram – https://www.instagram.com/yunnamhaircaresg/

Twitter – https://twitter.com/YunNamSingapore

#YunNamHairCare