Earlier this month, Norwegian Cruise Line Holdings (NCLH) announced the opening of its first sales office in Singapore.

Its Seven Seas Voyager, a cruise ship under its luxury brand, the Regent Seven Seas Cruises, will operate six sailings that will begin or end in Singapore between November next year and April 2018.

This will be the ship’s first winter season in the region.

Prices start from about S$750 (US$553.79) per person, per night.

“There’s a concentration of wealth in Southeast Asia that we think is untapped,” said Steve Odell, NCLH’s senior vice-president and managing director for the Asia-Pacific. “There’s also a big demand for cruising in Asia in the winter from North America and Europe.”

At travel agency Citystate Travel, bookings on luxury cruises so far this year have already exceeded the number for the whole of last year.

Honeyworld Holidays and Misa Travel both reported an increase in interest in such cruises, with brands such as Silversea, Seabourn, Crystal and Ponant.

Their selling point, according to the chief executive of the Singapore Cruise Centre, Christina Siaw, is first-class, personalised service.

Think gourmet dining, fine wine, private verandas, jacuzzi tubs, private butler service and a high crew-to-guest ratio. While packages can be steep – a seven-day voyage in the Mediterranean on Silversea starts from US$3,550 per person – they often include amenities, a variety of alcohol, and even shore excursions that cost extra on non-luxury lines.

Singaporeans who go on luxury cruises tend to be baby boomers who are either working professionals or semi-retired, as such itineraries tend to be at least seven nights, and can stretch to 14 nights or more. Many opt for fly cruises, where they fly to another country and board the boat there.

Singapore itself is growing as a cruise hub and attracting passengers from around the world who fly here to board cruises.

Travel agencies and cruise lines say Singapore benefits from flight connections to major cities, its year-round warm climate, and reputation as a safe and politically stable port.

Last year, passenger throughput rose by 14 per cent year-on-year to 1 million, according to the Singapore Tourism Board.

There were also nine maiden calls from cruise ships that had never previously visited Singapore and Southeast Asia.

As affluence in the region grows, both Marina Bay Cruise Centre and Singapore Cruise Centre are expecting a bigger wave of luxury cruises.

Crystal Cruises has announced itineraries up until early 2019 that include calls in Singapore, with some overnight stays.

“With healthy and vibrant economies, an expanding affluent middle class and a strong increase in intra-Asian travel, Asia offers tremendous opportunity,” said Lionel Wong, chief executive of Sats-Creuers Cruise Services which operates the Marina Bay Cruise Centre.

Elizabeth Soh, 62, who went on an Oceania Cruise to South America last year and a Crystal Cruise to the Mediterranean in 2013, said it is the small touches on luxury cruises that appeal to her.

Soh, a retired executive assistant, recalled how, after she unpacked her belongings on the Oceania cruise, a butler came to store her empty luggage elsewhere on the ship, so it would not clutter up her room.

When she ordered food from the speciality restaurant, a butler served it to her in her cabin, course by course.

She said that she is looking forward to having more luxury ships dock at Singapore.

“Boarding from Singapore would be great. It would save me the trouble of having to fly overseas.”

Apart from developing Danga Bay, IWH recenty secured the mandate to be the master developer of Bandar Malaysia together with China-based China Railway Engineering Corp (CREC).

“The interest expressed is still in preliminary stages with the due diligence being done,” sources said.

In 2014, investment bankers had estimated the listing of IWH to be around US$300 million. But that was based entirely on its 4,300-acre Danga Bay waterfront city in Johor Baru where IWH is the master developer. Almost half the land is under water and being reclaimed in phases.

But the listing did not take place.

Now the value of IWH should be higher, as it is part of a consortium that is the master developer of Bandar Malaysia.

“If Quek or his related companies buy a stake in Credence Resources, it would be equivalent to a listing as Lim would be able to monetise part of his stake,” said sources.

Sources said that Lim was currently on a roadshow as part of his efforts to formulate the masterplan for the Bandar Malaysia project.

Bandar Malaysia is a huge development spanning 486 acres, where the plan is to have an integrated underground city modelled after the Montreal underground city in Canada.

Bandar Malaysia would also serve as the gateway for the high-speed rail line to Singapore and become a central transport hub with connections to the mass rapid transit lines, KTM Komuter, Express Rail Link and 12 other highways.

The 60 per cent stake in the Bandar Malaysia project is jointly owned by IWH and China-based CREC.

The remaining 40 per cent is held by 1Malaysia Development Bhd (1MDB) and may be transferred to the Finance Ministry. For the 60 per cent stake, IWH-CREC needs to pay 7.4 billion ringgit (US$1.90 billion) to 1MDB in phases as the development progresses.

The transaction values the entire 486-acre land at 12.35 billion ringgit.

Currently, the land houses the Sungai Besi airfield and the Army and Police air wings. The existing facilities will be relocated by 2018 and the cost is included in the 12.35 billion ringgit price tag.

It has been said that the Bandar Malaysia project is estimated to have a gross development value (GDV) of 100 billion ringgit over the next 25 years.

In Johor, IWH is known as the master developer of the 4,300-acre Danga Bay waterfront city in Johor.

In relation to its waterfront development, IWH has gone into partnerships with 11 developers so far to carry out projects along an eight-km coastal stretch of Danga Bay.

These projects are reported to have a GDV of 125 billion ringgit and will be done over the next 10 to 15 years.

Lim and his family are also linked to four listed companies on Bursa Malaysia, namely, Iskandar Waterfront City Bhd, Ekovest Bhd, Knusford Bhd and PLS Plantations Bhd.

The group of companies have diversified interest from developing property to highway concessions.

(US$1 = 3.90 ringgit)

A grand opening ceremony took place in Vientiane yesterday, attended by Visone Saysongkham, deputy director-general of the Bank of the Lao PDR’s financial institutions and supervision department, staff from RMA Lao Co, and officials from the Ministry of Industry and Commerce, as well as other representatives from the government and private sectors.

The Laotian representative office of RM Asia (HK) Ltd was established in Vientiane in 1994 to support engineering and infrastructure development projects such as road construction, communications, irrigation, power generation and mining, said the managing director of Devco Lao Leasing Co, Kevin Whitcraft, who is also the chief executive of RMA. Subsequently RMA Lao Co became a fully registered company in Laos, and now has more than 500 staff.

On behalf of the government, particularly the Bank of the Lao PDR, Visone said he hoped the business operations of Devco Lao Leasing Co would help to drive the economy and create jobs.

He said he hoped the company’s business would develop smoothly and provide good services to society in full compliance with Laotian laws and regulations.

Hai made the statement at a forum on national branding held by the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency on Wednesday in Hanoi.

“The development of a national brand is key to cultural identity confirmation, especially in the context of integration,” Hai said.

In addition to efforts by the Government and ministries, the business community should also accelerate effective measures to build and advertise their own products’ brand names.

Hai said the business community has gradually increased its awareness about building brands and has become more involved in national branding.

He attributed this improvement to close and effective co-ordination between the Government and enterprises, in addition to extensive assistance from the media in propagating the importance of branding acitivities.

Nguyen Thi Thu Hien, Managing Director of the Hanoi Trade Corporation (Hapro), whose brand qualified for the “Vietnam Value” award, said the national branding progamme aims to help elevate the businesses’ statuses in the long term.

“Shortly after being officially recognised as a national-brand enterprise, Hapro leaders have been planning to connect the ‘Vietnam Value’ brand and the company’s own brand,” Hien said, adding that being given the National Value award helped the company earn consumers’ trust.

Gustav Dahlin, the second secretary of the Political and Trade Committee of the Embassy of Sweden in Vietnam, shared some national branding experiences during his presentation.

He said Sweden emphasised the values of equality, sustainable development and creation, adding that those are criteria that are always focused on throughout the building of a national brand.

“Swedish enterprises see them as key messages in their branding activities,” Dahlin said.

He told Viet Nam News that Vietnam’s population is now over 90 million, much bigger than Sweden’s of over 9 million, therefore, the business community and the whole country need to intensively promote the national trademark within the country first, and then spread it out regionally and internationally.

Sweden is a part of the EU, which helps it accelerate plans to build up its national brand but also means it needs to help develop the EU brand, he said.

“The situation is similar for Vietnam, as Vietnam is part of Asean,” he said. “You should be a vital part of Asean, contributing to the regional brand, but not to forgetting to distinguish yourself and to be outstanding.”

iFashion wants to build Asia’s largest online fashion hub by acquiring other smaller fashion e-commerce stores between three and five years old.

The region’s online fashion industry is fragmented as “many brands operate small teams with limited resources”, it said in a press release.

iFashion can provide smaller start-ups with services ranging from logistics and warehousing to production and financial services.

Managing director Jeneen Goh said the firm recognises the needs of many young fashion brands and want to help them realise their potential.

She said: “As e-commerce volume and traffic increases, these brands will enjoy the various business services and market knowledge provided by iFashion.”

New player in e-logistics business

Another local start-up has entered the e-logistics business.

Roadbull Technologies joins start-ups like Ninja Van, GoGoVan and Zyllem to move parcels and big objects in Singapore.

Founded by former investment banker Alwin Liang, Roadbull says its service has some features that set it apart from its rivals.

The service is automated, from online ordering and routing to dispatching jobs online. All these processes are undertaken on mobile apps.

Also, customers go to Roadbull’s website to key in their requirements and pay online using credit cards.

Liang believes he can offer a better service because Roadbull owns the vehicles and employs the drivers.

Roadbull, together with one of his investors, Trust-Link Logistics, has 48 vehicles comprising vans, lorries and motorcycles.

Prices start from S$2.80 to S$8 for small parcels.

Roadbull will accept orders for bigger objects over 100kg, but such orders have to be made over the phone.

Selling budget rooms with basic services

Looking for a clean, affordable budget hotel room for a staycation here? Zen Rooms (www.zenrooms.com/ city/singapore) offers rooms in budget hotels which it has checked to be clean and offering reliable service.

Co-founder Kiren Tanna said the service went through a pilot about a month ago and received a good response from tourists and residents here.

He said: “Surprisingly, about 40 per cent of people booking our rooms are Singaporeans ’staycationing’ here.”

Customers booking rooms from abroad can also use the service.

Zen Rooms offers only a few rooms in each hotel, but ensures they are clean and safe and that the hotel provides a certain level of service .

Tanna says research indicates that budget travellers are looking for a clean room, comfortable bed, in-room shower, flatscreen TV, air conditioning and Wi-Fi.

With that, the firm ensures that each hotel will, at the very least, offer these basic services.

The two companies recently obtained the investment registration certificate from the Government.

“Through the establishment of a petroleum product distribution company, Idemitsu and KPI will achieve a stable supply of products for the growing Vietnamese market, where demand for petroleum products is expected to follow a steady upward trend, thereby contributing to the social and economic development of Vietnam,” Idemitsu said in a statement on Monday.

Idemitsu and KPI are two foreign investors in the Nghi Son Refinery and Petrochemical Limited Liability Company in Thanh Hoa Province. They own 35.1 per cent each. The project is now under construction and will start commercial operations in 2017.

Idemitsu is one of the largest oil and petrochemical firms in Japan. With more than 8,000 employees, it owns oil platforms and refineries, and produces and sells petroleum, oils and petrochemical products. As of the third quarter of last year, its revenue was US$25.88 billion.

Kuwait Petroleum International is the international subsidiary of Kuwait Petroleum Corporation. It sells more than 450,000 barrels a day through 4,790 service stations in Europe, and its international divisions Q8Aviation, Q8Oils and International Diesel Service.

Later this year, it will launch a satellite to map pieces of debris less than a millimetre in size so that space agencies and private firms can use the information to protect their equipment.

Founder and chief executive Nobu Okada also said that in 2018, it will launch a special adhesive-smeared spacecraft designed to stick onto debris and move it out of harm’s way.

Last year, Astroscale opened a research and development centre in Japan to work with research institutions there.

The start-up was founded in 2013 here by Singapore-based Okada, who had previously worked with consulting giant McKinsey and Company.

He regards Singapore as “neutral” for his business because the space industry is dominated by the United States, Russia and China. If he had to remove space debris left by US satellites, a Singapore-based company would be more acceptable.

Mind-training headband

Local start-up Neeuro aims to raise US$50,000 on American crowdfunding site Indiegogo to make a special headband that can be used to train the mind. To date, it has raised nearly US$30,000 from about 200 backers.

The headband, called Neeuro Senzeband, comes with a mobile app called Neeuro Memorie, which is a collection of 15 games.

Designed by neuroscientists, game developers and data scientists, the games are meant to stimulate and strengthen the mind. The headband measures the brainwaves when a user plays the games on their mobile device.

In a statement, co-founder Eddie Chau said: “Basically, while you are playing the fun games, Senzeband will measure your cognitive performance and help you to achieve better mind wellness.”

When a user plays a game, the Senzeband’s special software maps the various cognitive functions such as memory, attention and spatial skills.

According to its campaign material posted on Indiegogo, Senzeband hopes to improve long- and short-term memory and help people to concentrate on what they are doing.

Other skills it hopes to develop among its users are multitasking, decision making, and spatial skills so people can read maps so that they can travel or move around.

Neeuro was founded two years ago by Chau and Dr Alvin Chan, both serial entrepreneurs. Chau founded cyber security company e-Cop in 2000, which was later acquired by security firm Certis Cisco. He and Dr Chan later co-founded social media monitoring service Brandtology, which was sold to Australian firm Media Monitors in 2011.

Six-figure sum raised for health portal’s expansion

A health and wellness portal called Active Ager Asia has raised a six-figure sum to fund its business expansion. The investments were led by angel investors, Dr Khor Chin Kee, former chief executive of Parkway Shenton Group, and Paddy Tan, chief executive of technology firm, BSTC.

Active Ager Asia, which started as an online health magazine two years ago, has expanded into a portal to help people track their fitness levels.

Founder Aaron Kong said that users of fitness trackers like Fitbit and Jawbone will be able to sync their data on the portal.

“So users can see how many steps they have taken, the distance walked and calories burnt.”

Earlier this week, data from the mobile fitness tracker Moves was linked to activeager.asia. In the next few weeks, data from Fitbit, Jawbone and other fitness trackers will be able to sync to the platform. “We want to influence… people who are 45 years old and above and try to get them to lead a more healthy lifestyle.”

The platform is open to all for free. However, there will be a subscription service starting from S$36 a year, where subscribers will be able to participate in fitness challenges as well as get other benefits like merchant discounts.

(US$1 = S$1.35)

Operating net profit for the quarter dipped 1.6 per cent to S$152.8 million, the developer said on Wednesday (April 20).

Excluding the gains from the change in use of properties year-on-year in the first quarter, operating net profit grew 10.6 per cent from higher contributions from development projects in China, new contribution from CapitaGreen, and better operating performance for the shopping mall and serviced residence businesses.

The decrease was partially mitigated by higher residential sales revenue in China, as well as higher rental revenues from CapitaGreen and the serviced residence business, said CapitaLand.

Earnings before interest and tax rose 20.1 per cent to S$458.2 million. This is mainly attributable to the fair value gain from the divestment of Somerset ZhongGuanCun Beijing, improved contributions from CapitaGreen, shopping malls and development projects in China, as well as lower divestment losses.

Said Lim Ming Yan, CapitaLand president & group: “CapitaLand is well positioned to ride through current market challenges and to seize opportunities given our strong balance sheet and resilient recurring income stream. We will seek attractive investment opportunities to grow our recurring income and to maintain development gains from trading assets.

“The group will maintain our focus on core markets of Singapore and China, growth markets of Vietnam and Indonesia, as well as our serviced residence global platform. In addition to capital recycling and portfolio reconstitution, we will also leverage our fund management platform and management contracts to grow our assets under management.”

The developer said residential sales in Singapore, China and Vietnam performed well in the first quarter and highlighted the “strong interest” for Cairnhill Nine in Singapore with 193 of the 268 units sold as at April 14.

The group’s serviced residence arm, The Ascott, added over 1,000 units to its China portfolio.

(US$1 = S$1.34)