Tag: Southeast Asia

Singapore – Regional personal finance group MoneySmart has officially rejected a recent offer from MoneyHero Group to acquire 100% of MoneySmart’s shared through a non-binding offer. It should be noted that MoneySmart released the statement a day after MoneyHero Group released its announcement stating its desire on the acquisition.

The MoneySmart board has unanimously determined that this approach is neither serious nor credible and that it will not be entertained. The manner in which the offer was made public, with no prior discussions with MoneySmart management, is highly unusual and has not engendered MoneySmart’s confidence in, or openness to, such discussions. Moreover, the proposed merger does not align with MoneySmart’s strategic objectives and would fail to deliver value to our shareholders. 

In addition, the adjoining press statement from MoneyHero makes reference to a recent private share transaction which was driven by specific circumstances and not representative of MoneySmart’s market value or future prospects.

Vinod Nair, founder and CEO at MoneySmart Group, said, “Our decision was a clear and definitive no. The two businesses currently operate in a similar space but are on diverging paths in terms of strategy, financial sustainability and outlook. Our focus remains on advancing our products, services and innovation, being a trusted partner to customers and executing our growth strategy. We believe that our current plans set up MoneySmart to succeed in the long term.”

Kuala Lumpur, Malaysia – Marketing transformation agency GrowthOps Asia has strategically elevated its creative and performance teams with key appointments and promotions. 

Chee Heng Look is promoted to associate creative director, while Sann Dee Ng is promoted to creative group head, and Thomas Chiew and Belinda Hon join as new creative group heads.

Moreover, Gillian Lim and Nicole Wong are promoted to senior account executive roles, with new hires include Nailul Aini as senior account director and Nicklaus Lam as account director. 

Lastly, Aiman Musbri is now head of paid media, Brandon Yap is programmatic media lead, with Namrata Kadam and Himanshu Patel advancing to associate director and manager of the SEO team, respectively.

Adzam Bahrin, regional creative director at GrowthOps, said, “These promotions and key hires in the creative team signals how we’re moving forward with strong and experienced individuals who will help us deliver unforgettable work for our clients. It’s also our aim to nurture the next generation of creative leaders.”

Meanwhile, Chris Greenough, general manager of Malaysia and regional head of creative services, commented, “We have been successful at attracting talent from larger network agencies with more traditional backgrounds and integrating them into our digital-first mindset. This ensures we have the capabilities to execute large 360 campaigns while maintaining our digital-first agility and thinking.”

Shaad Hamid, regional head of performance and general manager of Singapore, commented, “As we expand our team and services, our focus remains on aligning our structure with the unique strengths and expertise that our people bring to the table. By prioritising technology, talent development, and team dynamics, we ensure that our growth not only reflects our evolving capabilities but also positions us to consistently exceed client expectations across all digital media channels.”

Together, these strengthened teams underscore the company’s commitment to delivering exceptional marketing and technology solutions and solidify its position as an industry leader. By strengthening these core capabilities, GrowthOps Asia aims to drive even greater success for its clients.

Kuala Lumpur, Malaysia – Andrea Chuang has recently moved from Carro to AirAsia MOVE as its campaign marketing head. In an exclusive conversation with MARKETECH APAC, Andrea notes that in her new role, she will cover the main markets in Malaysia, Thailand, Indonesia, the Philippines and Singapore for all the AirAsia MOVE platform campaigns.

“This range from branding campaigns, tactical across integrated channels – driving more brand awareness post-rebranding from AirAsia Superapp to AirAsia MOVE, driving conversions across multiple line of businesses – Flights, Hotels, Hotel+Flights (H&F) bundles, Rides, Asean Explorer Pass, and many more, by leveraging on the app functions like Loyalty (Rewards), Payment (BigPay) as well as Chat (in-app messaging feature),” she explained.

When asked about her particular focus in leadership for AirAsia MOVE, she noted that she will be focusing on hotels and their hotel and flight (H+F) bundle offerings.

“The business is prioritising Hotels & H+F bundles to further drive home the idea of the app being the Asean’s favourite travel app that goes all the way with our consumers. With this, we will be pushing more attractive value-added services & offerings across our services in the app,” she said.

Andrea was most recently the head of marketing for MyTukar Malaysia before it recently rebranded to Carro. This was also not her first time with AirAsia as she was the company’s head of marketing and growth for in-flight and features for two years.

Speaking on her most recent leadership at MyTukar, she said, “During my tenure with myTukar, I learnt that rebranding is a long game – we used 2 years to successfully rebrand to Carro. This is a strategic move to improve its original brand perceptions and credibility by improving internal processes and communicate about its business progress & successes while changing the color from turquoise to orange.”

She added, “Meanwhile covering the consumer segments with campaigns that resonated with the locals like Raya, Merdeka, and many more. These were the building blocks that assisted with the rebranding transition, and set the foundation for the change.”

Andrea also notes that the travel industry has seen a surge post-COVID, and the revenge spending has slightly tapered down. Moreover, consumers are looking for unique experiences and more personalised plans during their travel.

“With this, we’re in a space where it’s opportune for us to address this challenge, so keep your eyes peeled for interesting collaborations and launches to come on AirAsia MOVE,” she added.

She also added, “Our tech & data team is working on better studying this behaviour in preparation to build and launch app features that’ll address these personalised experience with the help of AI.”

Andrea’s move into AirAsia MOVE follows the recent appointment of Ravi Shankar Mallavarapu as its chief marketing officer.

Singapore – McCann Worldgroup Southeast Asia has announced the launch of McCann Content Studios, a culture-first editorial and entertainment studio obsessed with creating content, experiences and conversations that move at the speed of social.

Operating out of both Singapore and Bangkok, McCann Content Studios will house the network’s social, editorial and influencer strategy capabilities; social creative ideation and content creation; in-house end-to-end production and post-production, social audience and connection strategies and activation; influencer content co-creation and production; and performance measurement and optimisation. 

It combines full-service social and creator strategy and execution into a single entity, and offers tailored end to end solutions to clients, tapping into rich and nuanced regional knowledge, while accessing the scale and power of the global McCann Content Studio network.

McCann Content Studios comes armed with a variety of both global and local proprietary tools to jack into culture and create content and conversations at scale, including ‘Trend>>Content,’ a trend-based intelligence and ideation strategic operating system that enables the studio to spot and jack social and cultural trends in real-time; ‘Social Voice Mapping,’ an AI-enabled tool to identify an ownable brand voice to guide always-on content optimisation across clients’ social touchpoints, and ‘CreatorIQ,’ an end-to-end influencer and creator management platform for real-time co-creativity at scale currently activated across all IPG agencies.

Since its launch in Singapore, McCann Content Studios has already worked with the Prime Minister’s Office Strategy Group to assure families in Singapore of support through the ‘Made for Families’ initiative. McCann Content Studios has also been awarded the social media management and content creation duties by GovTech, as well as leading social content strategy efforts for Microsoft, and supporting social duties for McCann Worldgroup Singapore’s existing clientele. 

In Thailand, McCann Content Studios was instrumental in the agency’s recent win of L’Oreal Paris across growing digital, social media and influencer capabilities, and has also been deployed on the agency’s Red Bull (TCP) business. 

Leading McCann Content Studios Singapore’s suite of offerings include Fathrul Fazakir, general manager at McCann Worldgroup Singapore and practice lead, McCann Worldgroup Public Sector Practice and will act as client services lead for the studio; as well as Liza Lorenzo who is appointed as social lead for McCann Content Studios. Meanwhile, leading McCann Content Studios Thailand’s suite of offerings include Sukit Kittinuntakul, general manager at McCann Worldgroup Bangkok and Napatrapee Pitaknarongporn, associate social director.

Nicholas Handel, president at McCann Worldgroup Southeast Asia and regional managing director at MRM Asia Pacific, said, “In an increasingly complex environment, where brands are looking for ever more sophisticated solutions across influencer, commerce and content, McCann Content Studios represents a consolidated offering that enables us to continue to provide best-in-class services for our clients.”

Hong Kong – Maybank has extended its partnership with FC Barcelona until 2027, continuing as the club’s official bank in Malaysia and Singapore, a role it has held since their initial agreement in 2017.

The renewed partnership represents a major boost for both parties: FC Barcelona will use Maybank to strengthen its foothold in Asia’s vast market, while Maybank will capitalise on the club’s extensive reach to enhance its presence and drive customer engagement.

As part of the renewal, Maybank will maintain its promotion of FC Barcelona debit and credit cards in Malaysia and Singapore and will continue offering exclusive campaigns such as Spend & Score, featuring challenges and prize draws that have previously allowed clients to travel to Barcelona and meet Barça Legends.

Juli Guiu, vice president of the FC Barcelona marketing area, said, “We are proud to extend the collaboration between FC Barcelona and Maybank to provide new services and Barça experiences for our fans in Malaysia and Singapore as Barça Official Bank in both markets. Asia is a strategic region for club expansion, with hundreds of thousands of passionate fans eager for new and innovative ways to have a closer relationship with us, and Maybank initiatives are a perfect fit for all of them. We look forward to continuing to work together in this extended relationship.”.

Meanwhile, Syed Ahmad Taufik Albar, group CEO for Community Financial Services of Maybank, shared, “We are thrilled to announce the continuation of our successful partnership with FC Barcelona. This collaboration marks the commitment to delivering exceptional value and experiences to our customers. Over the past years, we have launched numerous marketing campaigns, activations, and exclusive deals that resonated deeply with Malaysian and Singaporean Culers. This renewed partnership promises to bring even more innovative and engaging initiatives that will delight fans and strengthen our bond with one of the world’s most iconic football clubs.” 

“FC Barcelona holds a special place in the hearts of football enthusiasts in Malaysia and Singapore, and our collaboration with the club underscores our dedication to enhancing our customer-centric experiences. As one of the top football clubs in these regions, FC Barcelona’s popularity provides a unique platform for us to connect with our customers in meaningful ways. We look forward to another three years of shared success and unforgettable football moments,” he added. 

Maybank boasts over 14 million cardmembers across Malaysia and Singapore, including more than 600,000 FC Barcelona Visa debit and credit cardholders, highlighting the strong bond Maybank has established with football fans in the region.

Singapore – Gushcloud International has expanded its Southeast Asian creator roster by signing 27 new exclusive talents in the first half of 2024, strengthening its position in the regional influencer market.

The expanded regional talent roster now includes 10 creators from Indonesia, 9 from the Philippines, 3 each from Singapore and Thailand, and 2 from Malaysia. These influencers, active across platforms such as Instagram, TikTok, YouTube, and X (formerly Twitter), offer a diverse array of content spanning lifestyle, fashion, comedy, food, travel, and advocacy.

The latest additions to the Gushcloud International talent roster include:

INDONESIA

  • Belvadera (@beldavevara): Beauty and fashion influencer
  • Marcell Darwin (@marcelldarwin): Actor
  • Ricko Putra Ramli (@rickoramli): Fitness enthusiast
  • Florean Augustina (@florean_augustina): Content creator
  • Jason Lie (@jason_lie): Lifestyle influencer
  • Jonathan Lie (@jonathan_lie): Digital content creator
  • Abun Sungkar (@abunsungkar): Fashion and lifestyle influencer
  • Xaviera Putri (@xavieraputri): Beauty influencer
  • Dita Kerang (@ditakerang): Fashion enthusiast
  • Sephora (@sephora): Content creator

MALAYSIA

  • Natasya Nazreen (@natasya_nazreen): Fashion and beauty influencer
  • Khairul Hakimin (@khairulhakimin): Lifestyle and food content creator

PHILIPPINES

  • Apple David (@apppledavid): Host and sportscaster
  • Rio Mizu (@riomizu): Beauty and fashion influencer
  • Pattie Paraiso (@pattieparaiso): Lifestyle content creator and Gamer
  • Keona Lozada (@keonalozada_): Fashion and beauty influencer
  • Will Devaughn (@willdevaughn): Actor and content creator
  • Vanessa Lavadia (Bunny) (@alwaysthefunnygirl): Comedian and lifestyle influencer
  • Katrice Kierulf (@katricekierulf): Fitness enthusiast and model
  • Angel Grace America (@angelgrace.america): Beauty and fashion influencer
  • Hannah Maxine Cruz (@hannahmaxinecruz): History buff and host

SINGAPORE

  • Esther Rachel Lai (@estherrachel_lai): Lifestyle and travel enthusiast
  • Yan Kay Kay (@yankaykay): Content creator and beauty influencer
  • Cheryl Chin (@cheryl_chin): Lifestyle and fashion influencer

THAILAND

  • Tarnutsuda (@tarnutsuda): Beauty and lifestyle influencer
  • Nnanaeeee (@nnanaeeee): Comedian and content creator
  • Poonchuu (@poonchuuu): Fashion and lifestyle influencer

Nirote (May) Chaweewannakorn, head of talent in Southeast Asia and country director of Thailand at Gushcloud International, said, “We are excited to officially welcome the new members to our Gushcloud Talent Agency family. These young creators are brimming with creativity, collaboration, and energy. More importantly, they harness their influence to drive positive change within their social media fans, which perfectly aligns with Gushcloud’s mission of creating positive influence for future generations. We are thankful for their trust in Gushcloud and we can’t wait to start developing content and securing brand deals for them.” 

Earlier this year, Gushcloud International announced the signing of 14 new creators from Indonesia, the Philippines, and Thailand. Additionally, the company has expanded its global presence by opening a new office in Abu Dhabi, United Arab Emirates.

Singapore – Grab, a ride-hailing company, has acquired the restaurant reservation platform Chope–according to various sources. Grab’s goal is to help level the playing field for small and medium-sized enterprises, who make up the great majority of merchants on its platform but lack the resources of large food and beverage companies. 

Grab will acquire Chope’s operations in Singapore, Indonesia, and Thailand. The acquisition of Chope will strengthen Grab’s omni-commerce strategy and help it enhance its goal of conquering the dining-out market. 

Speaking about the acquisition, Arrif Ziaudeen, founder at Chope, said, “Chope has built products that have served and delighted countless restaurants and their customers for over a decade. We have proudly achieved so much on our journey. Together (with Grab), we are poised to deliver even greater value to our customers and set new standards in a competitive industry.”

In line with acquisitions, Grab acquired the meal review and reservation service HungryGoWhere in 2022, which had shuttered in 2021. Grab redesigned the site and announced that it could use insights from Grab’s super app, such as cuisine trends and popular Singapore destinations.

Kuala Lumpur, Malaysia – CARSOME has announced that it has secured RM100m in financing facility from AmBank Group to bolster capacity for future growth. The company’s end-to-end ecosystem has significantly expanded through its comprehensive suite of services, including car inspections, sales, financing, and after-sales support.

The RM100 million financing facility secured from AmBank Group will empower CARSOME, significantly enhancing its capacity to grow and innovate. This substantial funding will enable CARSOME to extend its reach, enhance its services, and drive sustained growth, reinforcing its commitment to delivering exceptional value across all facets of its operations.

With AmBank’s support, CARSOME will be able to further accelerate different stages of the used car trading process, offering a comprehensive, hassle-free experience to its customers. AmBank’s commitment to supporting CARSOME underscores the bank’s dedication to fostering the growth of forward-thinking businesses and driving the evolution of the automotive industry in the region.

Eric Cheng, co-founder, chairman, and CEO at CARSOME Group said, “We are thrilled to partner with AmBank, marking a pivotal moment in our journey to revolutionize the automotive industry. A financing facility at this scale is a strong validation of CARSOME’s business model and allows us to enhance CARSOME Group’s overall financing capabilities.”

He addded, “It also underscores our commitment to providing accessible solutions for our customers and elevating the car ownership experience. Through CARSOME Capital, we will leverage this partnership to further expand our service offerings, broadening our impact and continuing to innovate in the automotive ecosystem across Southeast Asia.”

Meanwhile, Christopher Yap, managing director of business banking at AmBank Group, commented, “AmBank is pleased to support CARSOME’s remarkable growth and innovation in providing end-to-end solutions for customers. Their exemplary track record in the used car market makes us proud to partner with them in revolutionising Malaysia’s automotive ecosystem. With their strong brand equity, financial standing, and extensive customer base, we look forward to seeing how this collaboration can further fortify CARSOME Capital’s operations and prospects. We hope to continue to expand opportunities with CARSOME in the coming years.”

The new funding follows a recent partnership of the company with NETA to foray into the sales of new cars, as well as closing a funding round which brought the group’s liquidity position to approximately US$200m. 

Singapore – Southeast Asian retailers are placing big bets on social media as 68% plan to increase investment in social commerce over the next 12 months, according to the latest data from Shopify. This dovetails with the finding that social media is now the biggest driver of brand and product discovery in Southeast Asia, with more than 4 in 5 consumers (82%) discovering new products through social media. 

According to the report, social commerce platforms are seeing staggering growth in the region, with platforms like TikTok projected to grow their user base in Asia-Pacific by 11.3% in 2024. In line with this, 39% of retailers surveyed for the report said social media engagement is one of the most crucial metrics for determining the ROI of commerce infrastructure, ranking just behind profit margin (44%). 

Moreover, the current economic climate has greatly impacted purchasing behaviour. Inflation and the rising cost of living have led the majority of Southeast Asian consumers (83%) to cut back on non-essential expenses, with over half seeking the best value when they shop. 

When it comes to making a purchase, price is the top factor for shoppers in Southeast Asia. Nearly all consumers surveyed (96%) said that they would stay loyal to a brand if it offered them an incentive, with consistently low prices or promotions being a top draw for 70%. In line with this, contextual real-time pricing (71%) is the number one area in which retailers plan to increase their technology spending so that they can drive conversions while maintaining favourable margins.

It is also worth noting that business websites, also referred to as brand.com sites, are important to shopping journeys in the region. Around 81% of Southeast Asian shoppers agree that a company with a brand website is more trustworthy and credible, compared to those without one. This trust factor is especially important to shoppers when making large purchases – two in five (42%) of SEA consumers prefer making large purchases on a company’s website instead of its online marketplace store.

While online channels are the stand-out preference for Southeast Asian shoppers, physical stores remain an important channel. Over a quarter (28%) said they enjoy in-store shopping as much as online shopping, and another 19% prefer in-store shopping. This highlights the importance of creating omnichannel shopping experiences. To succeed in omnichannel, a unified commerce platform that provides a holistic view of customer engagement, inventory, and fulfilment across channels is key. Testament to this, more than 3 in 5 retailers (66%) surveyed said they will increase tech investment in a unified commerce platform. 

The report also highlighted that around 85% of retailers face operations-related challenges, with efficiency issues stemming from manual processes and complex business systems. Almost all retailers surveyed (99%) believe that technology will remedy these struggles and are planning to invest about 20% of their total revenue into innovation initiatives in the next year. Topping the list of increased tech investments: contextual real-time pricing (71%), social commerce (68%), business intelligence (67%), unified commerce platform (66%, and composable stacks (65%). Given that technology is set to reshape the retail landscape, an overwhelming majority (93%) of retailers believe that the chief technology officer will contribute to the evolution and/or revenue growth of the business. 

Shaun Broughton, managing director for APAC and Japan at Shopify, said, “In this current economic climate, the imperative for both shoppers and retailers to achieve more with less has never been greater. Retailers are turning to advanced technology solutions to not only meet evolving customer demands but also to fortify their long-term resilience.”

He added, “Unified commerce is set to be a key growth catalyst, enabling retailers to harness comprehensive data and insights across their customers, inventory, and operations to make informed and strategic decisions. With technology being the linchpin to the future of retail, Shopify is the partner of choice for retailers across Southeast Asia, from large enterprises to small businesses, with solutions that are purpose-built to cater to their unique needs.”

Singapore – International communications firm Ruder Finn Asia has announced the promotion of Brian Witte to head of Ruder Finn Southeast Asia corporate practice and the appointment of Pamela Phua to general manager of Ruder Finn Singapore.

Having been part of the Ruder Finn Asia team for over a decade, Witte advised numerous corporate clients, including Visa, Infor, 3M, DBS, BASF, Backbase, and Pan Pacific Hotels Group, during his tenure as General Manager of Ruder Finn Singapore. 

In his new role, he will focus on cross-border client collaboration and exploring new business opportunities in Southeast Asia.

“I am honoured to step into this position and excited to build on the strong foundation we’ve established in Singapore and across the region. Southeast Asia is a dynamic and rapidly evolving market, and I look forward to leveraging our corporate practice and regional expertise to help our clients navigate its complexities. My focus will be on fostering collaboration and identifying innovative strategies that drive business growth and strengthen positive reputation for our clients,” Witte stated.

Meanwhile, Phua brings over 20 years of experience in branding, integrated marketing, reputation management and strategic communications to her new role. Before joining Ruder Finn Asia, Pamela served as head of new business, Asia, PR & influence at Ogilvy, where she established a strong track record in client advisory and business development.

Moreover, she has managed high-stakes reputation management projects, navigating complex crises and safeguarding corporate reputations. Her experience spans consultancy and in-house roles, making her well-equipped to lead Ruder Finn Singapore.

“I am excited and honoured to join the acclaimed Ruder Finn Singapore team and look forward to driving creative strategies that will elevate our clients’ brands and reputations. My aim is to ensure we deliver impactful results and stay ahead in the dynamic communications landscape,” Phua said.

Both will report directly to Elan Shou, managing director at Ruder Finn Asia-Pacific, who stated, “These strategic appointments represent a major milestone for Ruder Finn in Southeast Asia as we expand and enhance our capabilities. Brian brings extensive expertise and established regional relationships, while Pamela offers an innovative approach and a strong background in integrated marketing communications. This will bolster Ruder Finn Asia’s regional presence as a leading integrated communications consultancy in Southeast Asia.”