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Far East Hospitality rides on first quarter’s momentum for regional expansion

  • Signs Strategic Alliance Agreement with ARTOTEL Group in Indonesia
  • Opens second Village property in Yokohama, Japan

SINGAPORE – Media OutReach – 20 April 2021 – Riding on the momentum of opening two properties – The Clan Hotel Singapore and Quincy Hotel Melbourne, in the first quarter of 2021, Far East Hospitality today announced that it will continue with its regional expansion plans.

Teaming up with ARTOTEL Group

To kick things off, the homegrown operator signed a Strategic Alliance Agreement with ARTOTEL Group – Indonesia’s leading boutique hospitality and lifestyle group. The Group covers a wide range of offerings, including integrated hospitality, food & beverage, creative event management, and artsy merchandising. Under the terms of the partnership, both parties will collaborate across operations, branding, and training, as well as support business growth across markets.

“Singapore and Indonesia are key inbound markets for our respective tourism sectors. As such, we see strong synergies for both countries,” said Arthur Kiong, Chief Executive Officer of Far East Hospitality Management. “ARTOTEL Group also has a large network in Indonesia where we do not have a presence in. From a brand architecture perspective, it fits into a niche segment which we are currently not represented. Amid discussions to explore a ‘travel bubble’ between both countries, we look forward to leveraging our combined portfolio to appeal to both domestic and regional markets.”

As part of the agreement, both Far East Hospitality and ARTOTEL Group will be represented as an “Affiliate Brand” on the respective parties’ distribution channels and ecosystem. Far East Hospitality will also work with ARTOTEL Group to enhance its presence in Indonesia – Southeast Asia’s largest market – and gain meaningful market share. Both parties will also conduct training exchanges to share industry best practices and increase internal knowledge and expertise across markets.

Doubling its portfolio of hotels in Japan


[Photo: Far East Hospitality’s second property in Japan – Far East Village Hotel Yokohama]

Slated for opening in June this year, Far East Village Hotel Yokohama will be Far East Hospitality and the Village brand’s second property in Japan. This opening comes almost a year after the opening of Far East Village Hotel Ariake in July 2020. The 277-key property will be managed by Far East Hospitality under a Hotel Management Agreement (HMA) with Far East Organization.

Situated in the heart of downtown Yokohama, the property targets business travellers. It is a five-minute drive to the central business district and a three-minute walk to Sakuragicho and Kannai stations. It also offers visitors easy access to Minato Mirai District which houses attractions such as the Cup Noodle Museum and Colette Mare Shopping Mall. The largest Chinatown in Japan is also located close by with temples, traditional gates, delicious food, and colourful festivals for travellers to Eat, Play, and Explore like a local. Sports fans can also catch a game of baseball at the Yokohama Stadium nearby.

Expanding on homeground

Looking ahead, Far East Hospitality will also be expanding into the resort and spa category with the opening of Oasia Resort Sentosa in the second half of 2021.

The 191-key property consists of Suites, Wellness Premier Rooms, and Deluxe Rooms, and will be the fourth property on Sentosa island managed and operated by Far East Hospitality. Guests will have the opportunity to experience a wellness lifestyle that promotes a holistic state of being, where one’s mental, physical and emotional health are in sync. They are able to participate in activities such as spa treatments, fitness routines, mind-body practices, as well as connect with nature. Wellness journals, self-care checklists, and access to a collection of guided meditation audio are amongst the many items that are made available to guests during their stay.

Commenting on the expansion plans, Far East Orchard’s Group Chief Executive Officer, Alan Tang said, “We have not let the pandemic detract us from our goal of growing our hotel portfolio through Far East Hospitality. We are looking ahead and positioning ourselves for the eventual recovery, by deepening our presence in markets where there is a long-term positive outlook for hospitality and tourism.”

About Far East Hospitality

Far East Hospitality Holdings Pte Ltd (Far East Hospitality) is an international hospitality owner and operator with a diverse portfolio of 9 unique and complementary brands of hotels, serviced residences and apartment hotels, including Oasia, Quincy, Rendezvous, Village, Far East Collection, Adina Hotels, Vibe Hotels, Travelodge Hotels and TFE Hotels Collection.

Far East Hospitality owns more than 10 hospitality assets and operates a combined portfolio of more than 16,500 rooms under its management across 100 hotels and serviced residences in eight countries – Australia, Denmark, Germany, Hungary, Japan, Malaysia, New Zealand and Singapore, with more in its development pipeline. In 2020, the group ranked amongst the top 100 hotel companies by HotelsMag.

Far East Hospitality is a 70-30 joint venture formed in 2013 between Far East Orchard Limited (a listed company under Far East Organization) and The Straits Trading Company Limited. In the same year, Far East Hospitality, through its wholly-owned subsidiary Far East Hospitality Investments (Australia) Pte Ltd, completed a 50-50 joint venture with Australia’s Toga Group to form Toga Far East Hotels (TFE Hotels).

For more information, visit https://www.FarEastHospitality.com/.

CPA Australia: Dynamic Filipino small businesses may be weighed down by financing difficulties

  • Filipino small businesses made greater use of digital technologies in 2020.
  • Difficulty accessing finance may act as a brake on small business growth in 2021.
  • A young workforce and strong focus on innovation will boost small business momentum.

MANILA, PHILIPPINES – Media OutReach – 20 April 2021 – Small businesses in the Philippines significantly increased their use of online payment technologies and sales in 2020. However, difficulty accessing external finance may hamper their growth prospects in 2021, according to CPA Australia‘s 2020-21 Asia-Pacific Small Business Survey.

The survey canvassed 4,227 small businesses in 11 markets across the Asia-Pacific region, including Australia, Mainland China, Malaysia and Vietnam. Three hundred Filipino small businesses took part.

More than half (58 per cent) of Filipino respondents reported being negatively impacted by COVID-19. However, 46 per cent say they have already recovered or expect to recover in 2021. Sixty-two per cent of small businesses grew in 2020.

“The survey shows that small businesses in the Philippines are eager to innovate and engage with customers through social media. A vibrant and youthful workforce together with growing domestic demand supported the sector in 2020,” said Mark Chau, Regional General Manager of Business Development International at CPA Australia.

“Pending the effectiveness of the rollout of COVID-19 vaccinations and the control of COVID-19 cases, the dynamism of Filipino small businesses should help drive an economic rebound this year as restrictions are gradually eased and global economic activity returns to normal,” Chau said.

Filipino small businesses made greater use of digital technologies in 2020 as the pandemic accelerated the use of e-commerce. Twenty-seven per cent of Filipino small businesses reported that they began or increased their focus on online sales in response to COVID-19.

Sixty-one per cent of respondents received more than 10 per cent of sales from digital or online payment technologies such as GCash, DragonPay and PesoPay, up from 47 per cent in 2019. Sixty-two per cent of small businesses received more than 10 per cent of their revenue from online sales, up from 50 per cent in 2019.

“A re-opening of the economy in 2021 is likely to contribute to the continued expansion of e-commerce and digital transactions in the Philippines,” said Chau.

Seventy-three per cent of Filipino small businesses expect to grow in 2021, with 52 per cent intending to increase employees. Twenty-two per cent anticipate that revenue from overseas markets will grow strongly. Thirty-one per cent say they will introduce a new product, process or service to the local or overseas markets, the second highest of the markets surveyed.

Nevertheless, cashflow difficulties are having a negative effect on some Filipino small businesses. Sixty-four per cent of respondents sought external funds last year; 43 per cent sought funds for business growth and 32 per cent sought funds for survival.

However, only 13 per cent of respondents found accessing external finance easy or very easy, the lowest of the markets surveyed. This may explain why respondents mainly sought funds from friends or family (21 per cent) or personal resources (21 per cent), compared to 15 per cent from a bank.

Only 16 per cent of Filipino small businesses expect accessing external finance to be easy or very easy in 2021, which is lower than the survey average of 28 per cent.

“Difficulties in accessing external finance may hinder business plans to hire more employees, invest in technology or expand to new markets. Small businesses in the Philippines should consider seeking professional advice to maximise their success in obtaining external finance,” Chau said.

CPA Australia recommends that Philippines small businesses consider the following actions to improve their recovery prospects:

  • Seek advice from a trusted adviser to maximise success in obtaining external finance.
  • Improve cashflow by collecting outstanding debts.
  • Keep innovating products and services.
  • Invest in staff training to improve their productivity.
  • Invest in up-to-date devices and relevant technologies.

Download CPA Australia Asia-Pacific Small Business Survey 2020-21

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 168,000 members in over 100 countries and regions. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

Cable Stolen from Vang Vieng Expressway Tunnel

Cable Stolen from Vang Vieng Expressway Tunnel

Authorities have reported that cabling used for lighting inside the tunnels of the Vientiane to Vang Vieng Expressway has been stolen, causing the tunnel to go dark.

30 Killed in Road Accidents During Lao New Year Celebrations

30 Killed on Roads in Laos During Lao New Year 2021

The Lao New Year holiday period saw 30 people killed in road accidents across the country.

XA Network expands and appoints senior advisory board, as Southeast Asia digital economy races ahead

  • Community: XA Network is the leading tech executives’ investment network with members from a wide range of technology companies including Alibaba, Gojek, Grab, Google, Amazon, Netflix and Twitter to invest in the Southeast Asia start-up community to help them scale.
  • Opportunity: Southeast Asia’s digital economy is set to grow 3x to $300b by 2025 as it becomes hub for startups
  • Growth: XA Network has grown to 100 members in just 2 years, made 30 investments and have already had their first exit with Lomotif, Singapore’s video-sharing service, acquisition for US$125 million. Two-fifths of the portfolio has already gone on to Series A/B rounds.
  • Appointments: John Wood (ex-Microsoft, Room To Read), Steve Chen (YouTube cofounder), Maya Hari (Twitter, ex-Google, ex-Samsung) and David Thevenon (Balderton Capital, ex-Google) appointed to advisory board

SINGAPORE – News Direct – 20 April 2021 – The XA Network [the X denotes any tech firm with $1b+ valuation and the A refers to Alumni], the leading member-based investment network of executives from prominent tech firms in Southeast Asia, has today appointed an advisory board. The appointments signal the organisation’s growth and reach, as the Southeast Asian digital economy proves resilient and is racing ahead at full velocity.

Pictured – XA Network advisory board (L to R): Steve Chen (YouTube), David Thevenon (Balderton Capital), Maya Hai (Twitter) and John Wood (ex-Microsoft)


John Wood (ex-Microsoft, Room To Read), Steve Chen (co-founder of YouTube), Maya Hari (Twitter) and David Thevenon (Balderton Capital, ex-Google) have been appointed to advisory board positions. They will work directly with the members as the organisation scales and will champion the new purpose – to be an organisation that fosters inclusive innovation for the benefit of startups across Southeast Asia.

On his appointment, John Wood, advisory board member at XA Network commented: “I’m delighted to join this esteemed board to support and drive the ambitious community of investors. The XA Network brilliantly embodies Metcalfe’s law – e.g., the value of a network rises exponentially as the number of users grows. I believe this generation of technology leaders, by working together to support the start-up ecosystem in Southeast Asia, will have an immense impact on the region. We are all very committed to the power of smart capital, intense mentoring and fuelling inclusive innovation. This approach resonates with me on many levels and I look forward to helping XA Network scale to the next level”.

The XA Network is made up of 100 tech leaders from companies including Alibaba, Gojek, Grab, Google, Amazon, Netflix, YouTube amongst others. These investors offer an unmatched array of skills and counsel to their portfolio companies from engineering advice, product management, to marketing and partnership building experience. As a collective, this is embodied in their purpose to foster inclusive innovation beyond simply investing in startups. The XA Network exists to empower the tech community in Southeast Asia with its inclusive innovation approach.

The Southeast Asia digital economy is forging new ground every year1 and 2020 was no different, despite COVID-19. Over 70% of the region is now online, accounting for 400 million people (of a total population of 580 million). Digital adoption of consumer-service businesses increased as more people spent time online during lockdowns. HealthTech and EdTech based companies are earmarked to take-off in the coming years. Overall, the digital economy added USD $100 billion to the region and is poised to grow to over USD $300 billion by 2025.

The XA Network portfolio businesses are making a positive impact across the region such as Indonesian startups, Sampingan who enable access to the gig economy and Bukukas who enable small businesses to digitize their operations. Meanwhile, Singapore-based mentor platform Tigerhall is connecting the world’s most successful people with young professionals.

Nellie Wartoft, CEO at Tigerhall commented: “We raised $2m in 2020, it was a huge milestone for the company but we had a lot to do. The XA Network members are some of the absolute most supportive investors I’ve ever had on my cap table. They’re never afraid of rolling up their sleeves and doing real work either, which is rare to find amongst investors. They feel much more like an extended team than just financial investors to me, and have been key to Tigerhall’s success.”

The appointments come at an exciting time for XA Network as they achieved their first exit. Lomotif, Singapore’s video-sharing service, was acquired by a syndicate for US$125 million. The deal is said to be one of the biggest exits by a tech startup in Singapore in recent years.

XA Network highlights (since January 2020)

  • Membership base increased from 50 to 100 people in March 2021
  • XA Network portfolio includes 30 startups in a range of sectors including mobility, healthtech, foodtech, edtech, adtech, fintech, social commerce, proptech
  • Portfolio companies have also gone on to raise $82m in follow-on capital
  • Achieved its first exit with Lomotif

Notes to the editor

1 e-Conomy SEA 2020 Report

About the XA Network

The XA Network [the X denotes any tech firm with a $1b+ valuation and the A refers to Alumni] is an investment network comprising senior executives from prominent tech companies including Alibaba, Gojek, Grab, Google, Amazon, Netflix and Twitter amongst others.

Its mission is to invest and empower early-stage companies across Southeast Asia through their inclusive innovation approach, by exposing these businesses to the wide array of skills in the network. Since 2018, they have made 30 investments and expanded their member base to 100 people.

XA Network has invested in a wide variety of promising companies including Bukukas, Tigerhall, Sampingan, Neuron, and Infradigital as well as the Vertex Southeast Asia and India fund.

Website: https://xanetwork.co/

Follow us on LinkedIn and Twitter.

2021 Starry Taitung Night 2.0 towards Sustainable Economy

TAITUNG, TAIWAN – Media OutReach – 19 April 2021 – The Starry Taitung Night Concert has made huge strides this year. This event is now more than just beautiful, it’s sustainably amazing. The Taitung County Government has hosted the Starry Taitung Night series since 2018. The series has created a unique nocturnal way of experiencing Taitung.

Starry Taitung Night of 2021 is a 7-month event that goes from April to October.

Over 90% of people surveyed thought these events were interesting and engaging. This year the Taitung County Government wants these concerts to integrate sustainability, meaningful travel, and the concepts of “Authenticity, Friendliness and Beauty.” Therefore, the government spared no effort in applying for the ISO Event Sustainability Management Systems 20121 certification.

The Starry Taitung Night Concert is now on list for the top ten things to do in Taitung. There are 7 world-class performances on our program this year. The first concert will take place in Baxian Caves of Changbin Township on June 5. Performers from the National Symphony Orchestra will get the show started. The Starry Taitung Night Tour will host 64 events this year. A professional guide will take visitors to see the Milky Way above Taitung’s night sky. In addition, the series will also organize courses to train guides for the Starry Taitung Night Tour. The trainees will get a chance to lead the tour of an actual event. The County Government also aims to promote a circular economy by linking up guides with tours operators.

Starry Taitung Night of 2021 is a 7-month event that goes from April to October. The Taitung County Government always aims to promote the sustainable economy by offering excursions day and night, year round. For more information, please visit the Starry Taitung Night Concert’s official website https://www.facebook.com/StarryTaitung and Facebook page or search “StarryTaitung” on Instagram.


Microsoft announces plans to establish its first datacenter region in Malaysia as part of “Bersama Malaysia” initiative to support inclusive economic growth

“Bersama Malaysia” includes a commitment to skill an additional 1 million Malaysians by end of 2023, collaboration across public and private sectors and formation of a MYDigital Alliance Leadership Council

 

KUALA LUMPUR, MALAYSIA – Media OutReach – 19 April 2021 – Microsoft Corp. today announced its “Bersama Malaysia” (Together with Malaysia) initiative, which marks a significant commitment to empowering Malaysia’s inclusive digital economy and advancing the nation’s digital transformation across the private and public sectors. As part of the plan, Microsoft will establish its first datacenter region in the country to deliver trusted cloud services locally, with world-class data security, privacy, and the ability to store data in-country. Microsoft also announced plans to skill an additional 1 million Malaysians by end of 2023 to help create economic opportunities for people and businesses in the digital era. Finally, Microsoft will help form the MYDigital Alliance Leadership Council to collaborate on cloud-first and digital-native policy recommendations.



Today’s announcement represents a significant milestone in Microsoft’s 28-year history in the country and supports the Government of Malaysia’s MyDIGITAL goals to transform the country into a regional leader in the digital economy. According to IDC’s research[1], Microsoft’s investment in Malaysia will help generate up to USD 4.6 billion[2] in new revenues for the country’s ecosystem of local partners and cloud-consuming customers over the next four years. Additionally, the research estimates Microsoft, its partners, and cloud-using customers will together contribute more than 19,000 new direct and indirect jobs.

YAB Tan Sri Muhyiddin Yassin, Prime Minister of Malaysia said, “As we cement the Microsoft partnership today, I hope this is just the first green shoots of a broader meadow of investments in Malaysia, for Microsoft and other data players. This significant investment from Microsoft further fortifies Malaysia’s position as a potential regional data hub and we stand ever ready to welcome more such partners as we work with our stakeholders to continually improve Malaysia’s value proposition in this big data space.”

“Today’s announcement represents a major milestone for Microsoft in the 28 years we have been operating in Malaysia. We share the Government’s commitment that digital transformation must be inclusive and responsible. As such, we pledge to empower 1 million Malaysians with digital skills, helping them to take advantage of the opportunities this new investment will bring. Building digital infrastructure is fundamental to advancing a nation’s digital economy. The upcoming datacenter region will be a game-changer for Malaysia, enabling the government and businesses to reimagine and transform their operations, to the benefit of all citizens,” said Jean-Philippe Courtois, Executive Vice President and President, Microsoft Global Sales, Marketing and Operations.

“We are proud to cement our partnership with the nation to accelerate its digital economy. Public-private partnerships are key enablers to propel Malaysia’s digital economy forward. Microsoft’s Bersama Malaysia initiative reflects our joint commitment in support of the nation’s MyDIGITAL aspirations, as we empower every person and every organization in Malaysia to achieve more. With over 200 employees and 2,000 partners in the country, we will continue to support a digitally-enabled government, empower businesses to build resilience digitally, and bridge the digital opportunities for Malaysians. Together, we stand with Malaysia,” said K Raman, Managing Director of Microsoft Malaysia.

Digital infrastructure and partnerships to advance Malaysia’s digital economy

Microsoft will establish its first datacenter region in the Greater Kuala Lumpur area and deliver access to the full Microsoft Cloud, which includes:

  • Microsoft Azure, enabling anyone to invent with purpose using cloud services and capabilities that span computing, networking, databases, analytics, AI and Internet of Things;
  • Microsoft 365, to connect, collaborate, work remotely and learn online with innovative productivity tools;
  • Dynamics 365 and Power Platform, to rapidly build and manage critical enterprise business solutions at scale with intelligent business applications.

The new datacenter region will also deliver Azure Availability Zones, providing additional resilience options for highly available applications, and support Microsoft’s sustainability goals. Microsoft has a global commitment to shift to 100 percent supply of renewable energy by 2025. This means Microsoft will have power purchase agreements for green energy contracted for 100 percent of carbon-emitting electricity consumed by all its datacenters, buildings, and campuses, including the planned Malaysia datacenter region.

Microsoft will work with the government, startups, and enterprises to support the country’s digital transformation goals. Specifically, Microsoft in partnership with the Social & Economic Research Initiative (SERI) has established the MYDigital Alliance Leadership Council to collaborate on cloud-first and digital-native policy recommendations. The Alliance’s first meeting discussed digitalization in the education sector to nurture a globally competitive Malaysian digital workforce. Additionally, Malaysia’s leading companies, Petroliam Nasional Berhad (PETRONAS) and Celcom Axiata Berhad have committed to helping advance Malaysia’s nation building and digital ambitions, as well as using the Microsoft Cloud from the new datacenter region when available.

“The partnership with Microsoft underlines PETRONAS’ commitment to nurturing a sustainable pipeline of a future-ready workforce equipped to support Malaysia’s digital economy. As a progressive energy and solutions partner enriching lives for a sustainable future, continuous human capital development will be integral to our ability to operate and compete. We look forward to accelerating efforts in upskilling local talents, with a view to creating an inclusive digital future for the benefit of both the people and the nation,” said Tengku Muhammad Taufik, President and Group Chief Executive Officer, PETRONAS.

“Telecommunications and technology sectors are key lifelines to the nation’s digital economy. A world-class cloud service will become the epitome that shapes the future path in our pursuit towards becoming a digital economy powerhouse in the region. We highly applaud Microsoft’s plans to establish its first datacenter region in Malaysia, providing access to secure, scalable, highly available, resilient, and sustainable cloud services for the government, and across multiple industry verticals. As the anchor telco tenant, we look forward to bringing the benefit of this datacenter to our customers and partners. In partnership with Microsoft, we will continue to serve our customers by offering secure and reliable cloud services, leading towards the development of a striving digital ecosystem, and achieving the nation’s digital aspirations in a way that is sustainable,” said Idham Nawawi, Chief Executive Officer of Celcom Axiata Berhad.

Microsoft, together with its local partner Enfrasys Solutions, has been appointed by the Malaysian Administrative Modernisation and Management Planning Unit to provide cloud services to the Malaysian public sector agencies through 2023. Microsoft will also partner with Censof Holdings, Silverlake Group, and Web Bytes to accelerate digital transformation in the nation’s key industries, including financial services, retail, food, and beverage, as well as the public sector.

Empowering Malaysians with inclusive opportunities

As part of the Bersama Malaysia initiative, Microsoft is committed to equipping individuals with equal opportunities to thrive in a cloud and AI-enabled digital economy. To achieve this, Microsoft will skill an additional 1 million Malaysians by December 2023. This includes work with the Human Resources Development Fund, Social Security Organization, Junior Achievement Malaysia, TalentCorp Malaysia, MAMPU, Grab Malaysia, Biji-Biji Enterprise and local universities to reach people of all socio-economic backgrounds, including young adults and people living with disabilities. This commitment is a continuation of Microsoft’s global skills initiative since July 2020, which has reached more than 110,000 Malaysians to date.



[1] IDC Info Snapshot, sponsored by Microsoft, The Microsoft Cloud Dividend Snapshot: Malaysia, Doc. #US46918020, October 2020

[2] RM19 billion based on Bank Negara Malaysia (Central Bank of Malaysia) Exchange Rate: USD 1=RM 4.1405 as at 5 April 2021

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

Statement on the discussion about the intended introduction of the Super League

DORTMUND, GERMANY – EQS Newswire – 19 April 2021 – Borussia Dortmund GmbH & Co. KGaA comments on the discussion about the intended introduction of a European Super League as follows.

The members of the Executive Board of the European Club Association (ECA) held a virtual conference yesterday evening and confirmed that the ECA Executive Board decision of Friday, April 16, 2021, is still valid. This decision contains that the ECA clubs want to implement the planned reform of the UEFA Champions League. In the light of the Forgoing it was the clear opinion of the members of the ECA Executive Board that the plans to establish a Super League were rejected.

Hans-Joachim Watzke (CEO) emphasizes that “both German clubs that are represented on the ECA Executive Board, FC Bayern Munich and Borussia Dortmund, represented 100 percent congruent views in all discussions”.

Dortmund, April 19th, 2021

Borussia Dortmund GmbH & Co. KGaA
Borussia Dortmund Geschäftsführungs-GmbH

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