Tag: Southeast Asia

Singapore – Around 6 to 10 Southeast Asians are said to currently have debts or loans, according to a survey conducted by market research firm Milieu Insight in 2023. 

The study found that 62% of the Southeast Asian population are currently holding debts or loans, with Malaysia and Vietnam emerging as the nations grappling with the highest amount of people who currently have loans or debt.

The main factor as to why debt and loans have grown in Southeast Asia vary for each country. In Singapore, 49% of Singaporeans choose to take on debt in order to purchase property. On the other hand, 48% of Indonesians and 41% of Vietnamese and Filipinos stated that they took out loans and had debts due to an urgent need for immediate funds.

‍Regionally, there is a growing concern about indebtedness, with 14% of respondents stating that they aren’t able to save after deducting expenses and debt/loan repayment. This is even more alarming in Thailand, with 24% of respondents being unable to save after covering essential expenses and loans. However, there is a stark contrast in Singapore, where 14% of respondents are still saving more than 50% of their income.

Furthermore, the study revealed that 1 in 4 of Southeast Asians lacked personal finance education, with 39% of respondents attributing their financial literacy to the Internet.

In a press release regarding this, Milieu Insight commented, “Understanding the debt landscape and personal finance dynamics in Southeast Asia has never been more critical. Financial education is thus crucial and should be viewed as a lifelong learning process, with continuous efforts to update and adapt programs to align with evolving economic conditions. By fostering a culture of learning and financial awareness, we can equip our communities with the tools to make sound financial decisions and achieve financial security.”

Singapore – Fintech and e-commerce ecosystem Society Pass, has announced a strategic payments partnership with Singaporean global full-suite payments platform 2C2P to enhance the e-commerce experience in SEA. 

Through this partnership, Society Pass’s loyalty application would be able to offer 2C2P’s selection of alternative payment options to customers based in the Philippines and Indonesia.

Rokas Sidlauskas, chief marketing officer of Society Pass, shared their excitement to announce the partnership with 2C2P as it enables them to offer more flexible and convenient methods to pay for goods and services within their ecosystem. 

“By integrating leading Southeast Asia digital e-wallets such as AliPay, Touch n’ Go, Momo or GCash just to name a few into our ecosystem, Society Pass enables millions of customers to access our platforms, ranging from travel, to e-commerce, to telecoms, and to digital advertising. This is especially important considering that we operate in Southeast Asian markets, where unfortunately, over 75% of people are unbanked and do not possess debit or credit cards,” he added. 

Meanwhile, Rachelle Alexis Lim, executive director of 2C2P, said, “As we embark on this strategic partnership with Society Pass, we look forward to enhancing the payments experience of SOPA’s consumers across SEA. This collaboration with SoPa aligns perfectly with our mission to drive e-commerce growth in the region and globally, revolutionising how people transact and unlocking the potential of the digital economy for all.”

Singapore – VCCP Singapore has hired two new members to its leadership team, with the goal of aiding the agency into its next phase of growth. Katya Obolensky has been named managing director, and Mark Teal has been named chief marketing officer. Both hires are effective immediately.

Obolensky and Teal join the agency to help it grow, strengthen its presence in Singapore, and expand across Asian markets. As managing director, Obolensky will uphold the agency’s dedication to producing creative work and providing excellent client service.

Obolensky brings over fifteen years of advertising business experience in both New York City and London to the agency. Her career began at JWT NYC, where she worked on the Microsoft account, and she later moved to M&C Saatchi in London, where she was working for clients such as Hyundai, Currys/PC World, Public Health England, and Havana Club. She recently served as the leader of the Virgin Media O2 account at VCCP’s London headquarters, joined the London arm as a Senior Account Director back in 2015.

Speaking about her appointment, Obolensky expressed, “I’m absolutely thrilled to be bringing the challenger spirit of VCCP London to Singapore, and couldn’t be more pleased to have Mark join us at such an exciting time in our growth story. We’ve had an incredible few years and I’m excited to take our Asia offering to its next stage .”

Teal has two decades of experience in advertising and marketing technology. He arrives from Wunderman Thompson, where he is the head of business development, directing marketing technology alliances and driving creative and technology-related pitches. Previously, as business development director at Digitas, he was responsible for increasing the agency’s expertise in CRM and CMS build projects. 

Meanwhile, Julian Douglas, International CEO at VCCP said, “VCCP Singapore has seen solid momentum, bringing in clients Canon, Cathay Pacific, Toll and Deliveroo and welcoming several new superstar hires. Now with both Katya and Mark on board, we have the right leadership in place to propel the agency and Network even further as we reach the third phase of our global expansion plan which has APAC at the heart of it. I look forward to seeing their impact on our business.”

Malaysia –Trip.com Group and Penang Global Tourism (PGT) have signed an agreement to expand their current relationship to a global scale. Trip.com Group’s platforms, such as Trip.com and Ctrip, will actively stimulate inbound tourism to Penang through this new MOU for the next three years. 

Penang will now be promoted to travellers from several worldwide markets, including mainland China, Singapore, South Korea, Japan, and Australia, as a result of this new development.

Trip.com Group and PGT have been collaborating since 2016, with Trip.com Group becoming PGT’s first global partner and PGT becoming Trip.com Group’s first global partner within Malaysia, as well as the first post-pandemic MOU between the two organisations.

Speaking about the renewal of partnership, Bo Sun, Chief marketing officer of Trip.com Group, said, “Trip.com Group and Penang Global Tourism have been longstanding partners. Together, we have weathered the challenges posed by the pandemic and our cooperation has become even closer. We remain committed to developing a diverse range of products and expanding the market for Penang.” 

He added, “With new travel consumption behaviours and trends that have emerged after the pandemic, we hope to leverage our strengthened collaboration to guide the destination’s tourism industry towards a rapid recovery, as well as achieve sustainable growth through innovation.”

Meanwhile, Yab Chow Kon Yeow, chief minister of caretaker Penang, said, “In the heart of Penang’s prosperity, tourism beats as a vital lifeline, invigorating our economy and nurturing our ambitions. As we forge this historic bond with Trip.com Group, the first global partnership after pandemic and first in Malaysia, spanning up to 10 markets, we fortify our commitment to embracing the world with open arms.”

“Tourism remains the driving force that propels Penang forward, fuelling economic growth and enriching lives across the state,” Yeow said.

Singapore – AirAsia launched the “YASSS to Holiday Quickies” project, which aims to revive Singaporeans’ love of travel and adventure. 

Originally launched in 2019 as “Holiday Quickies,” this travel advertisement has sparked the desire to travel and adventurous spirit of many Singaporeans. AirAsia’s network of 130 destinations, including 15 direct routes from Singapore, has been embraced by tourists seeking the beauty of fast travel by enabling them to go on short, stimulating trips.

On Saturday, July 29, 2023, AirAsia launched PlayLive!, a voice-activation game on Clear Channel Singapore’s digital screen, where participants had a chance to win free flights by screaming “YASSS” for 10 seconds, enhancing AirAsia’s brand image as a lifestyle-oriented airline.

Speaking about the launch, Logan Velaitham, CEO of AirAsia Singapore, expressed, “We are excited to relaunch this successful campaign in Singapore with the return of our popular ‘YASSS to Holiday Quickies.’”

He added,  “What better way to reintroduce it than partnering with Clear Channel’s interactive voice-activation digital screen to not only get our guests to scream on top of their lungs for free flights, but also get our brand on top of their minds for future travel opportunities.” 

“As we are back in full swing with frequencies and capacities akin to pre-pandemic levels, with 15 destinations from Singapore, we look forward to flying Singaporeans to their much-needed and well-deserved holiday locations, always at the best-value fares possible,” Velaitham said. 

Kuala Lumpur, Malaysia – Soft Space, a local fintech provider, has announced a partnership with financial services company, JCB International, and banking institution Hong Leong Bank to promote JCB Card acceptance in Malaysia, capitalising on the potential of post-pandemic economic recovery.

Soft Space and JCBI entered into an agreement to partner with local acquirers, notably HLB, to promote JCB Card acceptance throughout Malaysia. As part of this initiative, Sofitel Kuala Lumpur Damansara, a hotel in Kuala Lumpur, has already begun taking JCB Card payments made possible by HLB.

Joel Tay, chief executive officer of Soft Space, said, “As Japanese tourist arrivals in Malaysia begin to ramp up again, we are pleased to be able to enable and promote cross-border payments between Japan and Malaysia via our partners.”

He added, “This merely represents a first step in our ambition to roll out similar agreements in Southeast Asia, boosting JCB Card acceptance and riding on the wave of increasing contactless card payments in the region.”

Talking about the expansion and collaboration, Yoshiki Kaneko, president and chief executive officer of JCB International, said, “We decided to expand the collaboration with another global leader who shares similar values in enhancing user experience through state-of-the-art technological application.” 

He added, “Malaysia has been an important destination country for our card members across the regions. Establishing a partnership with HLB is a huge step forward for the expansion of JCB acceptance network in Malaysia. We can now better serve JCB Card members coming to Malaysia not only from Japan, but also from the ASEAN region where we have more than 10 million card members.” 

“I am especially delighted as this achievement has been brought via a unique tripartite collaboration including Soft Space. Leveraging on today’s success, we are further strengthening our presence in the entire ASEAN region through this partnership with Soft Space,” Kaneko said. 

Speaking about the partnership, Andrew Jong, managing director of personal financial services at HLB, stated, “With an influx of tourists and expats coming from Japan into Malaysia, the option to accept JCB Cards will ensure convenience for its cardholders and provide businesses with an additional opportunity to capture more tourists and grow their business. This partnership will enable us to serve the customers who are increasingly going cashless as well as help our merchants increase their sales and customer transaction value.”

Singapore – DoubleVerify, a software platform for digital media measurement, data, and analytics, announced that it has entered into an agreement to acquire Scibids Technology SAS, a global AI-powered digital campaign optimization.

With the help of Scibids’ AI technology and media quality and performance data, along with DV’s product real-time campaign optimizations, advertisers will be able to accomplish real-time campaign optimization without the use of third-party cookies because of the acquisition. The transition from a performance proxy to observable business results is in line with advertiser goals.

Scibids creates AI technology that improves programmatic digital ad campaign buying for advertisers. Scibids AI develops personalised bidding algorithms that are in line with the advertiser’s particular KPIs and intended results by using DSP impression level data, first-party data, and measurement data from brands or agencies.

Mark Zagorski, CEO of DoubleVerify, said, “The acquisition of Scibids is a decisive step in our journey to power superior campaign outcomes that started with developing and delivering the industry standard in media quality insights and has evolved into putting that data to work for advertisers.” 

He added, “The combination marries DV’s proprietary data with Scibids’ AI-powered optimization technology, letting us empower brands with unparalleled insights and control over their advertising performance.”

Speaking about the partnership, Remi Lemonnier,CEO and co-founder of Scibids, remarked, “DoubleVerify is a company that shares our commitment to independence, innovation and maximizing media performance, and we’re thrilled to take our partnership to the next level.” 

“This partnership will amplify the capabilities of our customizable AI technology and expand its impact across the digital advertising ecosystem to strengthen the open web. We look forward to working with the entire DV team to deliver new opportunities and maximize campaign outcomes for our global advertisers and partners,” Lemonnier added. 

Cebu City, Philippines – Capital ACapital A’s campaign for diversity, ‘Time To Listen’, to release special single, the investment holding company of lowcost airline AirAsia, has announced a partnership with UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines. Through this partnership, Capital A’s subsidiaries namely AirAsia, airasia Superapp, and BigPay will be involved and will extend its presence in the Southeast Asian markets of Malaysia, Singapore, Thailand, Indonesia and the Philippines.

The new partnership was announced during the recent APEC Business Advisory Council (ABAC) meeting press conference.

Through the partnership, UnionDigital Bank’s role will be to provide embedded finance in partnership with BigPay within the airasia Superapp travel platform, the main booking channel for AirAsia flights in the Philippines.

Moreover, the partnership will enhance the travel experience of frequent fliers with flexible payment options with a Fly Now, Pay Later offer available in airasia Superapp, and exclusive co-branding deals. This will create a progressive shift in the way customers plan and pay for their flights and other travel-related services, making fintech more convenient and accessible for Filipinos. 

Tony Fernandes, CEO at Capital A, said, “For Capital A, the vision has always been to provide low cost, best value services, connecting people and realising dreams, for people of Asean and beyond. With UnionDigital as our proud partner, we are now on our way to create a future where travel meets innovative financial solutions that facilitate everyone’s dream journeys with unparalleled ease. We look forward to working with UnionDigital to redefine travel coupled with fintech as an accessible and enriching experience.”

He added, “Data has shown that 7 out of 10 of our customers in the Philippines save up for their travel plans, carefully budgeting to ensure they can explore the world comfortably. It is this inspiring dedication that fuels our determination to break down barriers and create a more connected and inclusive global community.”

Meanwhile, Zubin Rada Krishnan, CEO of BigPay, commented, “As tourism flourishes in the region, we are excited to elevate the end-to-end travel and payment experience of Filipinos through our collaboration with UnionDigital Bank and airasia. Through this partnership, BigPay is one step closer to making our financial services highly accessible in the Philippines, with the mission of empowering people to level up their lives, one transaction at a time.”

Lastly, Henry Aguda, president and CEO at UnionDigital Bank, said, “This is a pivotal moment for the two important sectors in the Philippines. We are forging a path towards greater convenience, accessibility, and innovation to empower Filipinos to live better lives. As we make these partnership announcements at ABAC, we are not just setting the stage but building a solid foundation for a brighter future with BigPay and AirAsia by our side.”

Singapore – NCS, a provider of technology firm services, has appointed Dentsu Singapore as its brand agency of record. The appointment expands dentsu’s remit as NCS’s incumbent lead agency partner since 2021.

As the official brand agency of record for NCS in the Asia-Pacific region, Dentsu Singapore will make use of its B2B solutions and integrated marketing knowledge to innovate for NCS. Dentsu is charged with providing strategic advice and recommendations across all brand touchpoints, and this assistance will be essential in elevating NCS during its upcoming stage.

Speaking about the appointment, Prakash Kamdar, CEO of clients and solutions, SEA, and CEO of Dentsu Singapore and Indonesia, commented, “As a network that takes a people-centered approach to business transformation, we are delighted to be able to support NCS’s vision to harness technology to advance communities and shape society.” 

He added, “This is an enduring relationship that has sparked remarkable brand outcomes in the region, and we are confident of scaling the NCS brand to new heights as we embark on our expanded partnership with this appointment.”

Meanwhile, Abigail Crosby, managing director, Merkle B2B, CXM Group, dentsu Singapore, expressed, “We are deeply appreciative for the opportunity to continue our work with NCS, helping to evolve the brand in the region. The best brand experience can only be delivered when it is thought through every touchpoint of the client journey, agnostic of the platform and content format.” 

“Our dentsu team is able to provide and demonstrate this holistic expertise and consultancy and we are thrilled that this shone through and enabled us to renew the partnership with NCS,” Crosby said. 

Singapore – Warner Bros. Discovery has announced the launch of a localised version of the popular cartoon series ‘Tom and Jerry’ which will be set in Singapore. The new series will be produced locally and first distributed in Asia.

The localised series will be composed of 7 episodes, each with 3-minute durations, and will premiere on Cartoon Network in Asia Pacific and HBO GO in Southeast Asia, Taiwan and Hong Kong later this year, before being rolled out internationally.

The pilot episode will be released this August, with further details to be announced soon. Moreover, there are also plans to launch additional Tom and Jerry-branded consumer products to complement the series launch later this year.

Christopher Ho, head of kids for Southeast Asia at Warner Bros. Discovery, said, “This series brings back the iconic music and classic animation style from the Hanna-Barbera 1950s era – but with a modern Singaporean twist. With distinctive landmarks, backdrops and atmosphere, the Asian city-state is the ideal location to create a humorous addition to the Tom and Jerry canon. Working with homegrown creative talent in Singapore and across Asia, this project grows the much-loved franchise in the region and beyond.”

Meanwhile, Vishnu Athreya, senior vice president of series at Warner Bros. Animation and Cartoon Network Studios, commented, “Tom and Jerry are two of our most universally loved characters, proving that laughs can translate to any audience. The fans in Asia have long embraced these characters and it’s great to finally give them a version to call their own.”