Tag: Memorandum of Understanding

Indonesia – VinFast, the Vietnamese electric vehicle manufacturer under Vingroup, has signed a Memorandum of Understanding (MoU) with vehicle distributor PT Aribi Amartapura (Amarta) to accelerate the expansion of its showroom network in Indonesia.

Under the agreement, VinFast will tap into Amarta’s 25 years of market expertise to develop 22 new showrooms across Indonesia between 2025 and 2027, with a focus on major cities like Greater Jakarta and Bandung. Eleven of these showrooms are slated to open in 2025, with the first expected to launch in March.

VinFast showrooms will feature a modern design and include charging ports, offering spaces for vehicle displays, test drives, and after-sales services. The showrooms aim to provide a streamlined experience for customers, from exploring electric vehicle options to post-purchase support.

This partnership supports VinFast’s global dealership strategy by expanding its network in Indonesia and aligning with its shift to a dealership model, aimed at optimising operations and reducing costs.

Pham Sanh Chau, CEO of VinFast Asia, said, “We are excited to collaborate with Amarta to bring our smart, eco-friendly electric vehicles closer to Indonesian consumers. This partnership allows us to fully capitalise on Amarta’s deep local expertise, laying a strong foundation for VinFast to become a household name in electric mobility.”

Angga Prawira Awang, CEO of Amarta, added, “It is an honour for Amarta to partner with VinFast, a dynamic and pioneering EV brand from Vietnam. We believe that by combining Amarta’s local market insights with VinFast’s superior product quality and affordable pricing, we can deliver exceptional value to Indonesian customers while promoting green mobility and a sustainable future.”

In January 2024, VinFast received approval from the Indonesian government for its long-term US$1.2 billion investment plan. The Vietnamese EV manufacturer continues to expand in Indonesia, partnering with 14 dealers operating 21 stores across Jakarta, Bandung, Surabaya, Bali, and other key locations. Its lineup includes the VF 3, VF 5, and VF e34 mini e-SUVs, with free charging available until March 1, 2028, and warranties ranging from 7 to 10 years, depending on the model.

Since entering the market, VinFast has introduced its EVs alongside GSM’s ride-hailing service and V-GREEN’s charging infrastructure, reinforcing its presence in Indonesia’s growing EV sector.

Japan – Nissan Motor Co., Ltd. (Nissan) and Honda Motor Co., Ltd. (Honda) have officially signed a memorandum of understanding (MOU) to initiate discussions on a potential business integration, which could lead to the creation of a joint holding company to unite their operations.

In an official press release, Nissan and Honda announced plans to form a joint holding company through a share transfer, making both automakers wholly owned subsidiaries of the new entity. The companies further emphasised their commitment to maintaining and equally developing the distinct brands under Honda and Nissan.

The signed MOU aims to enhance global competitiveness, enabling both companies to deliver more innovative and appealing products and services to customers worldwide.

If realized, the business integration would allow the automotive giants to combine resources, enhance synergies, adapt to market shifts, and boost long-term corporate value. By uniting their automotive, motorcycle, and power product businesses, they aim to strengthen Japan’s industrial base and deliver more innovative, appealing products worldwide.

Speaking on the announcement, Makoto Uchida, director, president, CEO, and representative executive officer of Nissan, said, “Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future. If realized, I believe that by uniting the strengths of both companies, we can deliver unparalleled value to customers worldwide who appreciate our respective brands. Together, we can create a unique way for them to enjoy cars that neither company could achieve alone.”

Nissan and Honda said they will form an integration preparatory committee to ensure a smooth transition and identify specific synergies based on due diligence. By leveraging these synergies—such as platform standardization, R&D integration, manufacturing optimization, and supply chain efficiency—the companies aim to become a world-class mobility leader, targeting sales revenue exceeding ¥30 trillion and operating profit over ¥3 trillion. Additional benefits include enhanced sales finance capabilities, operational efficiency, and a strong talent foundation for electrification and intelligence.

Toshihiro Mibe, director and representative executive officer of Honda, said, “Creation of new mobility value by bringing together the resources including knowledge, talents, and technologies that Honda and Nissan have been developing over the long years is essential to overcome challenging environmental shifts that the auto industry is facing.”

“Honda and Nissan are two companies with distinctive strengths. We are still at the stage of starting our review, and we have not decided on a business integration yet, but in order to find a direction for the possibility of business integration by the end of January 2025, we strive to be the one and only leading company that creates new mobility value through chemical reaction that can only be driven through synthesis of the two teams,” Mibe added. 

The share transfer ratio will be finalized when the definitive agreement for the business integration is signed, based on due diligence, third-party valuations, and recent average share prices. Upon the share transfer’s effective date, Honda will appoint a majority of both internal and external directors for the joint holding company, including the president and representative director or executive officer.

It is worth noting that Nissan and Honda first signed an MOU in March to establish a strategic partnership focused on vehicle intelligence and electrification, aiming to accelerate progress toward carbon neutrality and zero traffic fatalities. Since then, they have explored collaboration across various fields.

In August, the companies signed another MOU to strengthen their partnership, agreeing to conduct joint research on next-generation software-defined vehicle (SDV) platforms, with a focus on advancing intelligence and electrification technologies.

Amid these discussions, the automotive industry has faced rapid technological advancements and shifting market dynamics. On December 18, reports surfaced from Nikkei Asia that the two companies were entering merger talks to better compete with Tesla and emerging Chinese EV makers, underscoring the urgency of their collaboration.

Singapore – Regional e-commerce platform Shopee has signed a memorandum of understanding (MoU) with non-profit organisation Pharmaceutical Security Institute (PSI) to combat the sale of counterfeit pharmaceutical products online.

The MOU affirms both Shopee and PSI’s commitment and dedication to protecting public health against counterfeit medicines and is part of Shopee’s increased efforts to tackle counterfeits on its platform.

The MOU was signed virtually by Terence Pang, chief operating officer at Shopee; and Todd Ratcliffe, president and chief executive officer at the Pharmaceutical Security Institute. 

Under this partnership, Shopee and PSI will collaborate closely on initiatives for both sellers and shoppers. This includes educational programmes and the sharing of industry best practices to inform sellers, as well as awareness campaigns to protect shoppers.

Pang said, “Shopee looks forward to partnering with the PSI as part of our ongoing efforts to ensure a safe and trusted marketplace environment for brands and shoppers to transact. The safety of our shoppers is our priority and we are always looking for ways to enhance our platform and better protect users. This includes partnerships with leading organisations such as the PSI, which allows us to tap on industry knowledge and best practices to strengthen our current measures against counterfeits, and allow users to shop with greater confidence.”

Meanwhile, Ratcliffe commented, “The PSI is pleased to partner with Shopee in our ongoing journey of protecting public health. Recently, we have noticed an increase in the number of seizures of counterfeit pharmaceutical products, the result of bad actors taking advantage of easing pandemic restrictions and new opportunities. It is important for the PSI to work closely with key e-commerce platforms like Shopee to increase public education and awareness on counterfeit medicines to protect consumers. Together with Shopee, the PSI looks forward to rolling out new initiatives that make e-commerce a safe and secure way to shop.”

The MoU is part of Shopee’s increasing efforts to make e-commerce safer for its community of sellers, shoppers and partners, by collaborating with key stakeholders including industry associations and government bodies to collectively combat counterfeit goods.

Singapore – To continuously enhance creative tech advertising for businesses, Stellar Ace, the media and digital arm of Stellar Lifestyle, has signed a Memorandum of Understanding (MoU) with REVEZ Corporation’s wholly owned subsidiary REVEZ Motion for the advancement of next-gen digital interactive media in Singapore.

The opportunities include the adoption of REVEZ’s Metaverse, augmented reality, mixed reality, virtual reality, and a suite of cutting-edge technologies with 5G-ready capabilities as part of Stellar Ace’s expansion into an omnichannel advertising ecosystem. Both parties will also brainstorm ways to create Intellectual Property relating to digital creative initiatives. as well as conduct business feasibility, research, and development in the media industry to create new go-to-market experiential engagements.

PLONK, REVEZ’s MarTech platform, will be the first product in this collaboration to be launched. One of the region’s first web AR Content Management platforms makes AR campaign executions easy, cost-efficient, and consumers can view it easily with no app required. An immediate application would be the enhancement of social messaging communications such as Singtel location-based SMS. Traditional text will now come with an added AR experience for brand awareness and product showcasing through gamification to deliver consumer engagements.

“We look forward to enhancing our omnichannel solutions with REVEZ to include Extended Reality Technology and Metaverse. As we work on R&D for creative digital solutions, we aim to break new ground in the areas of digital innovation, engagements, and holistic insights in campaigns across our HOME, TRAVEL, EAT, SHOP & PLAY daily touchpoints platforms,” said Jeslyn Tan, managing director of Stellar Ace.

Meanwhile, Victor Neo, deputy board chairman and group CEO of REVEZ Corporation, commented, “REVEZ Motion is pleased to work towards more innovative and creative solutions. This will herald a new generation of advertising and digital creativity in campaigns. With Stellar Ace’s advertising ecosystem, we can extend more options to offer new edge creative experiences to customers.”

Thailand – Klook, a travel and leisure e-commerce platform, has signed a Memorandum of Understanding (MoU) with Central Pattana plc, Thailand’s retail-led mixed-use real estate developer and operator of central shopping centres, residential and office buildings, and hotels, to boost inbound tourism to Thailand.

The partnership, which begins in October 2022, seeks to leverage the strengths of Central Pattana’s leading retail presence, which encompasses over 37 shopping centres across Thailand’s most popular destinations, with 19 branches located in 15 provinces, both in major and secondary cities, and Klook‘s digital reach and global user base, to position Thailand as the destination-of-choice for travellers from key Asian markets, including Singapore, India, Malaysia, and Vietnam. 

Moreover, the partnership will also include a variety of digital marketing initiatives and online-to-offline (O2O) campaigns to increase the visibility of Thailand’s tourism businesses and exposure to international markets. Klook will also collaborate with Centara Hotels & Resorts, the Thailand-based hotel chain, to offer customers specially curated deals and seamless accommodation booking experiences.

Marcus Yong, Klook’s vice president of global marketing, commented that they are excited to be the first travel and leisure e-commerce platform to partner Central Pattana on an integrated marketing campaign to drive tourist arrivals and increase spending in Thailand.

He further shared that partnership enables them to tap into their respective strengths and innovate on offerings that combine travel and retail to help build travellers’ confidence and drive recovery.

“At Klook, we are ramping up to support and drive the next stage of travel recovery in Thailand, which will not only see tourists resuming their favourite pre-pandemic activities like eating local cuisines and shopping, but also branching out to discover more of what Thailand has to offer,” said Yong.

Meanwhile, Nattakit Tangpoonsinthana, executive vice president of marketing at Central Pattana plc, noted this partnership will enable Central Pattana to leverage Klook’s digital capabilities, strong user base and presence in multiple markets to capture new audiences.

“We look forward to working closely with Klook to create joint offerings that will attract and help us welcome more tourists back to Thailand by launching exclusive promotions for foreign customers: get a free Starbucks e-Coupon worth 100 baht when spending 2,000 baht, a free Klook discount code worth 200 baht when spending 2,000 baht on shopping at Central Ayutthaya or 2,500 baht at centralwOrld and Central Phuket. Organising the ‘Pick Up & Drop Off One-Day Tour’ area for international tourists at both centralwOrld and Central Ayutthaya in addition to Klook Downtown Service Counter at centralwOrld, the first comprehensive tourism service in Bangkok,” said Tangpoonsinthana.

Maldives – The Maldives Marketing and Public Relations Corporation (MMPRC), the national tourism office of the Maldives responsible for carrying out promotional activities, has signed a Memorandum of Understanding (MOU) with the flag carrier airline Qatar Airways, aimed at increasing inbound air traffic to the Maldives. 

The MOU was signed at the Qatar Airways Stand, on the sidelines of the Arabian Travel Market (ATM) last 9 May 2022, at the Dubai World Trade Center. It was signed on behalf of Thoyyib Mohamed, MMPRC’s CEO and managing director, and Thierry Antinori, Qatar Airways’ chief commercial officer.

As per the agreement, both partners will be launching joint promotional and marketing activities in key identified markets, with the objective of increasing inbound air traffic to the Maldives. The activities include launching joint B2B and B2C campaigns, organising familiarisation trips for travel partners and media influencers, and working on joint activities with trade partners. It further stipulates aligning on future plans, with both parties assessing and contributing in order to implement the activities within the target markets to promote the Maldives as a travel destination.

Speaking at a panel discussion held during the 9th Arab Aviation Summit in Dubai earlier this year, Mohamed noted that the tourism and the aviation industry should work closely together to overcome challenges. He had also referred to the important role the Middle East plays as a growing source market for the Maldives, as well as the central hub for a large number of tourists. 

MMPRC is currently representing the Maldives at ATM 2022, the global event for the inbound and outbound travel industry in the Middle East. It aims to support the travel industry and facilitate important business connections.

In January 2022, MMPRC has partnered with British mass media firm News UK, to launch a new campaign that aims to drive brand awareness for the country as a holiday destination.

Singapore – Digital commerce enabler in SEA, Synagie, has signed a Memorandum of Understanding (MoU) with Singapore Management University (SMU), aimed at co-developing digital education and training programmes. 

The programmes are specially designed to address the specific talent and skills shortages faced by the technology and e-commerce sector in the region. It seeks to upskill over 3,000 sector professionals by 2025. 

More than 60 SMU-certified programmes across seven areas of focus will be co-developed by SMU Academy (SMUA), the professional training arm of SMU and Synagie Commerce Academy (SCA). These include personal development, customer business development, channel development management, marketing and creative services, and supply chain operations, as well as customer engagement solutions, and business analytics solutions.

Complemented by SMUA’s highly interactive, collaborative, and project-based approach to learning, the modules delivered at SMUA will be taught by leading e-commerce and tech experts with industry experience. The programmes will be launched progressively in the latter part of this year. Participants, who will successfully complete the programme, will receive a certificate jointly issued by SMU and SCA.

Jack Lim, Singapore Management University Academy’s executive director, shared that the partnership with Synagie signifies their commitment to deepening collaboration and engagement with the industry to create practical learning programmes for adult learners who are looking to upskill and reskill. 

“Drawing from the proven andragogy expertise of SMU Academy and industry knowledge from Synagie, these programmes will serve to better equip the workforce with in-demand digital skills, eCommerce experience and bridge talent and skill gaps in this era of disruption,” said Lim.

Meanwhile, Olive Tai, Synagie’s managing director and co-founder, believes that to truly maintain their position as global leaders of the e-commerce sector, SEA’s e-commerce and tech players must come together to inspire and build the next generation of talent. 

“Synagie’s partnership with SMU marks significant milestones for two of the company’s stategic schemes – Synagie Commerce Academy (SCA) and Synagie Partner and Network (SPAN) – roadmapped to propel and future proof the Company position as Digitial Commerce’s leader and change agent for good,” said Tai.