NNA Asia top stories Monday, Nov. 19
TOKYO, NNA – The following are the top stories from NNA Asia for Monday, Nov. 19.
Japan Oct exports rebound but Chinese demand slower amid U.S. trade row
TOKYO, NNA - Japanese exports rebounded in October on solid global demand for Japanese cars and semiconductors after a rare slip in September when typhoons delayed shipments, but demand from China appeared to be losing some steam amid the U.S. trade dispute, trade statistics released Monday by the Ministry of Finance showed.
Exports rose 8.2 percent on year in October, coming in weaker than the median economist forecast for a 9.0-percent rise. It followed the 1.3-percent drop in September. The 8.2-percent increase was the largest since +12.3 percent in January.
Demand from Asia led the growth. Exports to Asia rose 7.3 percent, the eighth straight year-on-year rise, and those to China climbed 9.0 percent, the rise in two months. But the pace of increase in exports to China decelerated from double-digit percentage gains seen earlier.
Building material retailer Siam Global House opens mega store in Cambodia
PHNOM PENH, NNA – Thailand’s building material retail chain Siam Global House Public Co. has opened a mega hardware store in Phnom Penh, offering imported goods to builders, wholesalers and consumers.
Global House opened its doors to customers Friday ahead of full operation in December on a 10-hectare plot of land, selling over 10,000 items, all imported from Thailand, including titles, paint and sinks as well as furniture and consumer electronics.
The new store allows one-stop shopping for builders. Due to scarce domestic supply of raw materials, Cambodia relies on imports of building materials and interior goods from Vietnam and Thailand.
Japan’s FamilyMart expands outside Kuala Lumpur to Johor
KUALA LUMPUR, NNA – Japanese convenience store chain FamilyMart Co. opened a store Friday in the southernmost Malaysian state of Johor, marking its first foothold outside the greater capital area.
The Taman Sutera shop is the 71st since the first FamilyMart opened in Malaysia in 2016. The company and QL Resources Berhad, its local partner, aim to raise the number of stores to 300 by 2021.
Leasing firm Tokyo Century establishes investment arm in Singapore
SINGAPORE, NNA – Japanese leasing company Tokyo Century Corp. said Friday it will establish a wholly owned investment arm in Singapore as part of its global expansion.
The company will set up Tokyo Century Asia Ltd. with $75.15 million in capital later this month to oversee investment and related operations. The Tokyo-based firm has invested in Singapore-based ride-hailing operator Grab Taxi Holdings Pte. Ltd. and an electric money service unit of Indonesian conglomerate Lippo Group.
Tokyo Century sales in Asia are the firm’s largest by region, followed by those in the United States. Sales in East Asia and Southeast Asia have more than doubled over the four years to March 2018.