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Cover Stories, The Executives

Alliance Islamic Bank Redefining Islamic Finance for a Sustainable Future

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Alliance Islamic Bank is setting itself apart in a rapidly evolving financial landscape by integrating social and environmental considerations into its Islamic finance operations. As the Islamic banking sector transitions from merely adapting conventional products to embracing a more impactful philosophy, Alliance Islamic Bank is leading the charge with a commitment beyond financial performance. In an exclusive interview, The Exchange Asia spoke with Rizal IL-Ehzan Fadil Azim, CEO of Alliance Islamic Bank Berhad, to gain insights on how the institution is revolutionising Islamic banking to differentiate itself from its peers. Traditionally, Islamic banks have been viewed as conventional banks with Shariah-compliant modifications. This perception often involved adapting conventional financial products to meet Shariah law requirements, which sometimes meant complex transactional processes designed to connect finance with real assets and business activities. However, Rizal highlights a significant shift in this paradigm: “Our vision is not just to adapt conventional products but to create financial solutions that drive positive social and environmental change. We’re committed to being a catalyst for good, reflecting the core values of Shariah beyond mere compliance.” In 2017, Alliance Islamic Bank embraced a value-based intermediation (VBI) approach, positioning itself to generate positive societal outcomes while fulfilling the ethical mandates of Shariah. This philosophy goes beyond mere financial transactions, reflecting a deeper commitment to improving human welfare and advancing education, property rights, and intellect. Alliance Islamic Bank is at the forefront of driving the Halal economy, recognising the immense potential for growth in this space. In 2020, the bank introduced a comprehensive one-stop center dedicated to supporting businesses in navigating the Halal market. This initiative includes assistance with certification, business matching, and a full range of banking services. Rizal IL-Ehzan Fadil Azim elaborates, “Our Halal In One program has been a significant success. Since its launch, we provided more than RM2 billion to over 450 SMEs. Our objective is to foster growth and innovation in the Halal sector, helping businesses thrive in this rapidly expanding market.” Alliance Islamic Bank’s commitment to social impact is exemplified by its philanthropic efforts. The SocioBiz crowdfunding platform, introduced in 2019, focuses on supporting micro-businesses operated by the B40 community. Rizal notes, “SocioBiz has raised RM1.85 million to date, benefitting 2,200 recipients. This platform enables us to provide seed funding and engage the broader community in supporting micro-businesses, ultimately driving social and economic development.” In a unique move, Alliance Islamic Bank has integrated its capital markets services within the bank itself, rather than relying on separate investment banks. This integration allows the bank to offer a comprehensive range of financial services under one roof. “We have been involved in 5 IPOs so far this year, with more expected by the end of 2024. This integration enhances our ability to provide holistic financial solutions and contributes to greater market efficiency,” Rizal reveals. While Alliance Islamic Bank primarily focuses on the local market, its market access programs occasionally facilitate international expansion. Rizal explains, “We’ve supported businesses in accessing markets in China, Japan, Korea, and the Middle East. Our goal is to help local businesses grow globally, providing them with valuable opportunities for expansion.” Innovative Social Financing Initiatives One of the bank’s most innovative initiatives is its Zakat microfinancing programme (AZAM). This programme represents a pioneering approach to zakat, utilising zakat Wakalah to support Asnaf (underprivileged) micro-entrepreneurs in the country. By transitioning from traditional grants to a revolving fund model, Alliance Bank maximizes the impact of each contribution. “Since launching this initiative in December 2023, we have distributed RM450,000 to 90 Asnaf micro-entrepreneurs. The early results are promising, with a 100% repayment rate,” Rizal IL-Ehzan Fadil Azim shares. “This model allows us to support multiple entrepreneurs over time, creating a multiplier effect that enhances the overall impact.” Responding to Challenges with Compassion Navigating economic uncertainties, such as those brought about by the COVID-19 pandemic, requires a delicate balance of rational decision-making and empathy. During the pandemic, Alliance Bank implemented moratoriums for customers and supported employees and the community. “We offered a one-year moratorium to alleviate financial stress and supported our staff with safety measures and moral support,” Rizal recounts. “Additionally, we raised funds for hospitals and social enterprises and assisted SMEs with digital marketing and market access. These actions, while part of our CSR initiatives, became integral to our business approach and inspired further initiatives.” Looking ahead, Alliance Islamic Bank aims to strengthen its position as a leading social financing institution. “Over the next five years, we plan to increase our focus on social financing, aiming to allocate one-third of our assets to these initiatives. We will continue to innovate and introduce new social financing programs and sustainability solutions. Integrating AI and digital technologies will play a crucial role in advancing Shariah-compliant solutions and identifying areas for social and economic development,” Rizal IL-Ehzan Fadil Azim outlines. Alliance Islamic Bank’s approach to Islamic finance is a testament to its commitment to creating positive societal impacts while achieving financial growth. By aligning its financial practices with broader social goals, the bank is redefining the role of Islamic financial institutions and setting a new benchmark for what it means to be a socially responsible bank.

[from left to right]: Datin Azalina Adham, Managing Director of the Securities Commission Malaysia (SC) Dato’ Mohammad Faiz Azmi, Chairman of the SC Dato’ Amirul Feisal Wan Zahir, Managing Director of Khazanah Nasional Berhad Bryan Lim, Executive Director, Investments of Khazanah Nasional Berhad
Investment & Market Trends, News

SC and Khazanah Sign MoU to Catalyse MTC Access to the Capital Market

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KUALA LUMPUR: The Securities Commission Malaysia (SC) signed a Memorandum of Understanding (MoU) with Khazanah Nasional Berhad (Khazanah) through the Dana Impak Fund to enhance funding access for Malaysian mid-tier companies (MTCs) and promote their participation in capital markets, further driving their growth and expansion. This collaboration aligns with the SC’s Catalysing MSME and MTC Access to the Capital Market: 5-Year Roadmap (2024-2028) (“MSME and MTC Roadmap”). Strategic Partnership for Inclusive Growth SC Chairman Dato’ Mohammad Faiz Azmi praised Khazanah’s commitment, saying: “We appreciate Khazanah’s support of the MSME and MTC Roadmap and our goal of fostering a more inclusive and holistic capital market fundraising ecosystem.” He further emphasized that MTCs, despite being essential contributors to the economy, often struggle to access growth financing. “MTCs are significant domestic employers and economic contributors, but they face challenges as the ‘missing middle’ in accessing financing. This MoU aims to address these issues to ensure sustainable growth and resilience,” he added. MTCs: Key Economic Drivers Though MTCs constitute less than 2% of firms in Malaysia, they contribute 36% of the country’s GDP and 16% of employment, underscoring their economic importance and potential for capital market involvement. Empowering Companies Through Dana Impak Khazanah’s Managing Director, Dato’ Amirul Feisal Wan Zahir, reiterated Khazanah’s commitment to supporting Malaysian companies and MTCs: “Through Dana Impak, a key pillar under our Advancing Malaysia strategy, we have earmarked RM500 million to fund high-potential MTCs via private markets—whether through private equity or private credit funds—ensuring improved access to capital.” He highlighted the importance of developing future-ready industries and fostering innovation. “One of the key pillars in Khazanah’s ‘A Nation that Creates’ framework is transforming firms of all sizes to generate greater value creation while improving national productivity and global competitiveness. Our collaboration with the SC will position MTCs to contribute substantially to Malaysia’s economy,” he added. Key Focus Areas and Initiatives The MoU will focus on several strategic initiatives to propel MTC growth: Fundraising incubation for 60–100 MTCs to enhance their readiness for capital markets. Specialised capacity-building programmes to increase competitiveness and innovation. MTC-focused investments to stimulate growth and economic impact. Khazanah, in collaboration with the SC, will also implement capacity-building programmes to unlock new business, innovation, and funding opportunities, including market-based financing solutions. Building Capital Market-Ready MTCs A core objective is to create a pipeline of capital market-ready MTCs. This includes upskilling selected companies on fundraising requirements through the SC affiliate Capital Markets Malaysia’s Elevate programme, along with initiatives to strengthen growth and innovation capabilities. These efforts align with the ambitions of the MSME and MTC Roadmap and the GEAR-uP programme, fostering long-term growth, innovation, and economic resilience.

Uncategorized

Yuno welcomes former Uber and JP Morgan Director to lead APAC partnerships and drive regional growth

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SINGAPORE; Yuno, the world’s leading payment orchestration platform, today announced the appointment of SheueChee Beh as its new Head of Partnerships for APAC. This move doubles down on the company’s commitment to scaling its presence in Asia-Pacific. SheueChee has over two decades of payments experience and a proven track record working within Asia’s tech and financial services sector, including at JP Morgan, NTT Data, and CIMB, a leading ASEAN universal bank. Before joining Yuno, SheueChee was Director of Payments for APAC at Uber, where she helped to improve payment systems for customers, drivers, and merchants, as well as expanded the company’s financial services offering across the region. While at Uber, she also served as an advisory board member for the Merchant Advisory Group (MAG) APAC, where she played a key role in driving positive change and innovation in the payments industry, supporting merchants’ interests. With its young and digitally savvy population, APAC has emerged as the world’s leading digital payment market, accounting for over 50% of the global market share. This growth has fueled a diverse and rapidly evolving payments ecosystem, where alternative payment methods like e-wallets and QR codes are increasingly popular. Yuno, which launched in key Asian markets, including Hong Kong, Singapore, and Thailand earlier this year, helps local and global merchants navigate the complexities of this fragmented payments landscape and optimize their transactions across the region. Its platform streamlines access to over 300 different global payment methods, alongside cutting-edge features like one-click checkout and robust anti-fraud tools through a single, user-friendly interface. Juan Pablo Ortega, Co-founder and CEO at Yuno, commented: “We are thrilled to welcome SheueChee to the Yuno team at such an exciting time in our expansion across Asia-Pacific. Her extensive experience and deep knowledge of the region’s dynamic payments landscape make her the perfect fit to expand our partnerships and drive growth in this key market. With SheueChee at the helm, we are confident that Yuno will continue to deliver innovative solutions that empower businesses to solve their cross-border payments complexities, scale seamlessly, and thrive in this fast-evolving payments ecosystem.” SheueChee Beh, Head of Partnerships APAC at Yuno, added: “I am excited to join Yuno and contribute to its mission of transforming the payments landscape in APAC. This region is a hotbed of innovation, and by forging strong partnerships with local players, we will be able to offer truly tailored solutions that meet the unique needs of businesses here. Together with Yuno, I look forward to driving forward-thinking strategies that not only enhance payment experiences but also empower merchants to seize new opportunities in this rapidly evolving digital economy.” Yuno earlier this year raised a $25 million Series A round from investors including Andreessen Horowitz, Tiger Global, DST Global Partners, Kaszek Ventures, and Monashees, to fuel its ambitious expansion plans across Asia, Europe, the Middle East, and Africa.

News

Matrade appoints Najib’s daughter Nooryana Najwa as director

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KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) has appointed Nooryana Najwa Najib, daughter of former prime minister Datuk Seri Najib Razak, as its new member of the board of directors (BOD). Alongside Nooryana, the national trade promotion agency, which falls under the Ministry of Investment, Trade, and Industry (Miti), also appointed Miti secretary general Datuk Hairil Yahri Yaacob and Ministry of Finance fiscal and economics division undersecretary Dr Mastura Abdul Karim as new members of the board, according to its chairman Datuk Seri Reezal Merican Naina Merican. “Before the meeting began, I handed over the letter of appointment [to] the new member of Matrade’s BOD, Nooryana Najwa Najib; and witnessed her taking the oath [to be] corruption-free, along with two other BOD members, Datuk Hairil Yahri Yaacob and Dr Mastura Abdul Karim,” he said in a Facebook post, after chairing the board’s meeting on Tuesday (Oct 15). “Congratulations to Nooryana Najwa for being appointed as a member of the BOD of Matrade,” Reezal added. At press time, Matrade has not responded to The Edge’s enquiry over the appointment. Nooryana, 36, is an executive committee member of Umno’s women’s youth wing, Umno Puteri. In 2020, the then government, via the Inland Revenue Board (IRB), sued Nooryana for alleged failure to submit her individual income tax return forms to the tax agency for the years of assessment 2011 to 2017. The IRB contended that Nooryana had not paid the amount of income tax owed, including increases, totalling RM10.3 million. The High Court dismissed the government’s application for a summary judgement to be entered against Nooryana. The IRB had later in 2022, withdrew its appeal at the Court of Appeal against the dismissal of the application for the summary judgement. Meanwhile, Reezal, a former minister during the Perikatan Nasional administration under former prime minister Tan Sri Muhyiddin Yassin, and the Barisan Nasional administration under former prime minister Datuk Seri Ismail Sabri Yaakob, is an Umno Supreme Council member. He was appointed as Matrade chairman in May 2023. He lost his Kepala Batas parliamentary seat during the 2022 Malaysian general election, after representing the constituency for two terms prior. –THE EDGE

News

Unlocking Southeast Asia: Traveloka’s B2B Platform to be Showcased at ITB Asia

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KUALA LUMPUR: Traveloka, Southeast Asia’s leading travel platform, will showcase its business-to-business (B2B) platform at ITB Asia from October 23 to 25 at Marina Bay Sands Convention Centre, Singapore. During the event, global travel partners will have the opportunity to explore how the Traveloka Partners Network can serve as their gateway to Southeast Asia’s vast travel market, providing access to a wide range of airlines, accommodations, and travel activities. The Traveloka Partners Network is designed specifically to support B2B partnerships and meet the diverse needs of the travel ecosystem. The platform offers flexible Application Programming Interfaces (APIs), advanced technical tools, and a powerful search engine, ensuring seamless access to a comprehensive range of travel services. Leveraging Traveloka’s trusted experience in the region, the platform unlocks the immense potential of Southeast Asia’s travel market for its partners.   “Collaboration is the cornerstone of the Traveloka Partners Network,” said Caesar Indra, President, Traveloka. “By understanding our partners’ unique needs, we provide solutions that drive mutual success. Our commitment to advanced technology, comprehensive booking management tools, and dedicated customer support ensures that our partners and their customers benefit from a seamless, integrated travel experience.”   The Traveloka Partners Network offers robust, customizable solutions that empower businesses to integrate Traveloka’s services, such as flight bookings and hotel reservations, directly into their platforms. The B2B API is fast, reliable, and easy to implement, giving travel agencies and businesses access to Southeast Asia’s growing tourism market. Additionally, the Redirection and MiniApp Service allow partners to embed Traveloka booking features via a simple link, minimizing development costs while ensuring a smooth user experience. These solutions enable Traveloka’s partners to expand their reach and enhance their offerings effortlessly.   PKFARE (a DerbySoft Company), an innovative global travel product aggregator and a valued partner of the Traveloka Partners Network, has experienced remarkable success, achieving triple-digit growth since the resumption of travel post-pandemic. By leveraging Traveloka’s extensive reach and competitive direct contract inventory, PKFARE has expanded its customer base and optimized its operational efficiency, marking a pivotal milestone in its growth journey. This partnership exemplifies how collaboration with the Traveloka Partners Network can drive tangible results and foster sustained business growth.   Founded in 2012, Traveloka has grown rapidly to serve millions of customers across Indonesia, Thailand, Singapore, Vietnam, Malaysia, the Philippines, and Australia. With over 20 product lines and over 40 payment methods available, Traveloka has become the region’s leading travel platform, achieving nearly 50 million monthly active users (MAU) and nearly 140 million app downloads across Southeast Asia.

Investment & Market Trends, News

Malaysia Hosts 27th BIMP-EAGA Ministerial Meeting: A Focus on Regional Cooperation and Economic Growth

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KOTA KINABALU: Malaysia played host to the 27th Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Ministerial Meeting, a significant gathering aimed at enhancing regional cooperation and driving economic growth among the member countries. The meeting, chaired by Rafizi Ramli, Malaysia’s Minister of Economy, brought together high-ranking officials from Brunei, Indonesia, and the Philippines, along with representatives from the ASEAN Secretariat and the Asian Development Bank (ADB). Strengthening Local Governance The ministerial meeting coincided with the 6th BIMP-EAGA Chief Ministers, Governors, and Local Governments Forum, chaired by Dr. Joachim Gunsalam, the Deputy Chief Minister of Sabah. This forum aimed to bolster cooperation at the local government level, facilitating discussions among representatives from various states and provinces. During the ministerial meeting, delegates reviewed critical reports from BIMP-EAGA Senior Officials. Discussions centered on essential economic indicators, the progress of projects under the BIMP-EAGA Vision 2025, and the status of collaboration with development partners. Notably, the ADB presented an update on the review of BIMP-EAGA economic corridors and highlighted ongoing technical assistance to enhance subregional cooperation. Legalization of the BIMP Facilitation Centre A significant agenda item was Malaysia’s proposal to resolve the longstanding issue of legalizing the BIMP Facilitation Centre (BIMP-FC), which has been under discussion since 2008. The proposal includes: Increasing staffing levels and allocating operational funding for three years. Establishing a joint funding arrangement among member countries, contingent upon the BIMP-FC office remaining in Kota Kinabalu, Sabah. This initiative aims to strengthen the operational capacity of the BIMP-FC, enhancing its ability to facilitate cooperation and development across the region. Joint Statement and Future Outlook The meeting concluded with a commitment to advancing collaboration in various sectors, with a full Joint Statement detailing the outcomes and initiatives discussed. This gathering reflects Malaysia’s leadership in fostering regional integration and highlights the collective effort of BIMP-EAGA member countries to drive economic growth, enhance connectivity, and promote sustainable development. As BIMP-EAGA prepares for its future, the focus remains on leveraging existing partnerships and exploring new opportunities to foster innovation and economic resilience within the region.

Investment & Market Trends, News

Policy Address by Hong Kong SAR’s Chief Executive John Lee: Reform for Enhancing Development and Building Our Future Together

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HONG KONG: Chief Executive John Lee presented his third Policy Address, themed “Reform for Enhancing Development and Building Our Future Together.” The address outlines initiatives focused on economic development, improving livelihoods, and enhancing residents’ quality of life. Building Economic Synergy Across Finance, Shipping, and Trade Hong Kong aims to consolidate its position as a global financial, shipping, and trade hub through strategic reforms. Key measures include enhancing the offshore Renminbi business hub, developing an international gold trading market with state-of-the-art storage facilities, and expanding asset and securities markets. On the shipping front, the Hong Kong Maritime and Port Board will be restructured to strengthen research, increase international outreach, and promote sustainable development. Tax incentives and accredited warehouses will facilitate international commodity trade, with a focus on non-ferrous metals. The Government will also establish a high-value-added supply chain service centre and leverage new opportunities under the CEPA agreement to attract mainland and overseas enterprises. Liquor import duties will be reduced to boost trade and foster high-value industries. Accelerating Innovation and Technology (I&T) Growth To transform Hong Kong into a global I&T hub, the Government will launch a $10 billion Industry-Oriented Fund, targeting emerging sectors such as life sciences and artificial intelligence. An I&T Accelerator Pilot Scheme will support the growth of startups through professional services and strategic partnerships. Further initiatives include developing a low-altitude economy, promoting green energy solutions, and enhancing the approval processes for medical devices. Hong Kong will partner with Shenzhen to establish the GBA Clinical Trial Collaboration Platform, advancing the city as an international health innovation hub. Attracting Global Talent through Education and Technology Integration To strengthen Hong Kong’s talent pipeline, a new Committee on Education, Technology and Talents will oversee integrated development in these areas. The Government aims to brand Hong Kong as an education hub, attract international students, and create a Northern Metropolis University Town to foster talent development. Promoting Tourism, Sports, and Cultural Integration The Government will enhance the West Kowloon Cultural District as a creative industry hub and develop the Kai Tak Sports Park as a sports landmark. The upcoming Development Blueprint for Hong Kong’s Tourism Industry 2.0 will focus on culture, ecology, and mega-events to reinvigorate tourism. A dedicated working group will coordinate the development of tourist hotspots across districts. Supporting SMEs and Developing the Silver Economy To assist SMEs, the Government will relaunch the principal moratorium to improve cash flow management and inject $1 billion into the BUD Fund for business upgrades. A new Incentive Scheme for Recurrent Exhibitions 2.0 will support tourism and service industries. Additionally, a working group will explore opportunities in the silver economy, focusing on elderly consumption and industry productivity. Driving Northern Metropolis Growth and GBA Collaboration A pilot industrial park will be established in the Northern Metropolis to drive economic development. Collaboration with Shenzhen will continue through the Hong Kong-Shenzhen I&T Park, aligning efforts to develop the Hetao Cooperation Zone into a leading innovation center. Enhancing Livelihoods and Healthcare The Policy Address introduces new housing regulations to tackle the issue of subdivided units and expands the public healthcare system, including plans for a third medical school. The Government will provide targeted poverty alleviation and increase support for community care services. In his closing remarks, John Lee emphasized the importance of reform, stating: “This Policy Address deepens our efforts to strengthen the economy and improve the lives of our people. United by innovation and ambition, Hong Kong will continue to thrive.” A detailed supplement covering all policy measures is available at www.policyaddress.gov.hk.

News

Genting Malaysia to defend against lawsuit

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PETALING JAYA: The lawsuit filed against Genting Malaysia Bhd by its joint-venture partner in the Bahamas may affect the former’s bid for a casino licence in New York. In addition to the lawsuit, which was filed by RAV Bahamas Ltd against Genting Americas Inc (GAI), CGS International (CGSI) Research also raised concerns about the Nevada gaming regulator’s complaints against Resorts World Las Vegas. Resorts World Las Vegas is run by Genting Malaysia’s parent company Genting Bhd. Both complaints, however, would not affect Genting Malaysia’s valuation as determined by CGSI Research. “This is because we have not factored in any potential upside from its New York casino bid. We only include Genting Malaysia’s land at book value in our sum-of-parts valuation,” stated CGSI Research. On Oct 14, Genting Malaysia announced that its indirect wholly-owned subsidiary GAI has been named in a complaint filed by RAV on Oct 7 before the US District Court Southern District of Florida, which involved the operations of Resorts World Bimini (RW Bimini) in the Bahamas. RAV sought damages in excess of US$600mil, following its allegations that the Genting group has dumped nearly a billion dollars of debt on RW Bimini. RW Bimini is owned and operated by BB Entertainment Ltd (BBE), in which Genting Malaysia indirectly holds 78% interest while RAV holds the remaining 22% interest. GAI is an affiliate company of BBE. Genting Malaysia said the complaint was baseless and without merit, and that it would vigorously defend against the complaint. “While we do not wish to speculate on the outcome of this case, in the worst case scenario where GAI is found guilty, the US$600mil claim would be equivalent to 46 sen per Genting Malaysia share, based on Genting Malaysia’s share base of 5.67 billion shares,” said CGSI Research. Despite the latest development, the research house has retained its “add” call. “We see a robust three-year earnings per share compound annual growth rate of 42% in the financial years of 2023 to 2026, supported by the recovery in tourism and growth in Resorts World Genting’s revenue.“Genting Malaysia currently trades at a 12.7 times price-to-earnings (PE) ratio for 2025, two standard deviations below its historical pre-Covid-19 mean PE of 18 times,” it added.–THE STAR

Lifestyle

GOELIA continues its international expansion with the opening of nine new stores during Golden Week

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SINGAPORE: During China’s 2024 National Day Golden Week, celebrated fashion brand GOELIA opened nine new stores in China and overseas focusing this time on Singapore, where three flagship stores were launched consecutively at Jewel Changi Airport and Orchard Road. In contrast to the general trend of closing physical stores mainly due to the economic downturn, GOELIA, strong of its financial performance, has bucked the trend strengthening its international presence. Already, these new openings have proven a great success among the communities. Being the first Chinese fashion brand to integrate global traveling as part of its culture in designing fashion, GOELIA’s recent international strategy marks a step further in putting the brand on the global map. The brand now boasts online customers from nearly 60 countries and a fan base across 188 countries and regions. Furthermore, GOELIA has established multiple flagship stores in landmark commercial districts in Australia, Singapore, and most recently in Spain. As a global hub for international trade, Singapore features the world’s most significant transshipment port and an air transport network connecting Asia, Europe, Africa, and Oceania. It is also one of the most influential and multicultural consumer cities worldwide. GOELIA has identified Singapore as a pivotal step in its international expansion strategy. With the opening of three stores, the brand is expanding its investments in the Singapore market, strengthening its presence and laying the foundation for breaking into additional markets to solidify its presence at international level. GOELIA’s confidence in its global expansion is based on having more than 30 years of history, rigorous quality control, and an excellent pricing strategy. In addition, GOELIA has implemented research and its effective localization strategy to accommodate different languages, cultures, tastes, and preferences. By setting up operational branches in various countries, local teams work closely with the headquarter in China to ensure effective localized management. The brand tailors its product lines for each region based on market preferences and consumer profiles. Furthermore, the integration of offline flagship store services with a global free shipping strategy for orders exceeding a certain amount on the official global website provides consumers worldwide with a convenient, high-quality, and trustworthy shopping experience. GOELIA gains international favor with a sustainable fashion philosophy “Nature + Civilization = Fashion” embodies GOELIA’s fashion perspective. The brand carefully selects natural materials for its clothing, with core products featuring fabrics such as mulberry silk, triacetate, traditional Xiangyun silk, 95% white goose down, and cashmere. Accessories also emphasize natural materials, like Tahitian shell buttons and palm nut buttons, aiming to provide consumers with higher-quality products at competitive prices. GOELIA’s global stores are designed around the concept of natural ecology and wildlife conservation. In Singapore, each of the three stores presents a unique environment reflecting Goelia attention to nature and sustainability. The interiors are designed to reflect the changing seasons and Goelia’s love for country. From China to Asia, Australia, and Europe, the phrase “Keep moving forward!” is frequently shared by GOELIA’s founder. The brand’s next stop, the “Starred Store Journey,” is fashion capital Barcelona in Spain. The intention is to reach and inspire more global consumers marking the start of a new era for China’s fashion industry.

Upcoming Events

A Taste Of The Future: The Go-To Spot At The Worldchefs Congress & Expo 2024

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SINGAPORE: Professional food services brand Unilever Food Solutions (UFS) is bringing its eight (8) new culinary trends set to future-proof food businesses at the Worldchefs Congress & Expo 2024 on October 21 at Marina Bay Sands, Singapore. Giving a tasteful peek into how the future can play out for food businesses during its hour-long activation, UFS is bringing to life its 2024 edition of the Future Menus Top Global Trends report, which compiles robust global data and extensive chef inputs translated into practical, actionable solutions for foodservice operators of all sizes. “In their pursuit of knowledge, technique enhancement and expansion, and menu innovation, the future is where chefs need to be,” says UFS Executive Chef (Singapore, Vietnam, and Cambodia) Eric Chua. “The Worldchefs Congress is a buffet of opportunities just waiting to be savored. It’s crucial that we do not miss out on what matters most: The future of the food that we are serving to diners. There is so much more to learn about what worked in the past and what needs to be done now for a better tomorrow, and we invite chefs to partake in the flavors of tomorrow and chip in to the melting pot of infinite possibilities. Presenting: The Culinary Infinity The food service industry is constantly evolving and diners are constantly expecting more–failing to keep up means risking going down. This is why chefs need a partner that can open up their kitchens to infinite ways to stay ahead of the culinary curve. “UFS champions for food innovations that are practical, sustainable, and robust,” added Vangie Hu, Regional Marketing Director of UFS Southeast Asia. “Embracing the ever-evolving nature of food without forgetting essential culinary principles, UFS has leveraged global data and insights from chefs to create a report highlighting the top eight trends shaping the next year of dining experiences worldwide.” During the one-hour in-Congress activation mounted by UFS, attendees will experience the eight (8) global trends identified by experts worldwide through redefined culinary boundaries. Among the tasteful discoveries that await are unlikely ingredient pairings that make for fresh new flavors, new ways for low waste, modernizing comfort food, and locally sourced ingredients and their sustainable sourcing practices. Joining guests are Chef Eric Chua, Executive Chef for UFS Singapore, Vietnam, and Cambodia; Chef Gun Gun Handayana, Executive Chef for UFS Indonesia; Chef Kenneth Cacho, Executive Chef of UFS Philippines; and Chef Jiraroj “Pop” Navanukroh, Executive Chef of UFS Thailand. The Trends That Await Streamlining a chef’s journey to finding trends that work best for their own menus, the UFS Future Menus report identifies eight (8) actionable global trends: Flavor Shock: No Rules Experience Diners these days are seeking far more than the usual; they are after an experience that dazzles, surprises, and challenges every one of your senses. In an era where sensory overload is the norm, culinary creations must tear up the rulebook, crafting dishes that are experimental, that push boundaries and exceed expectations. Local Abundance: Celebrating Local Local abundance is all about celebrating our homeland. The freshness of local and seasonal produce elevates our dishes to new heights. More importantly, it is about strengthening the bond between our kitchens and our communities. By building these relationships, we’re not just sourcing ingredients; we are including the story of our region into each bite. Low-Waste Menus: Maximizing Creativity The trend helps chefs use ingredients and resources wisely, save money, and please diners who care about eating well. Chefs now have a cheat sheet to getting the most out of every ingredient, meeting expectations of young chefs and aware diners who want sustainable kitchens. A promising area to explore in a time of innovation and conscious living. Modernized Comfort Food: Adventurous and Satisfying With many diners seeking comfort in what they eat, the trend for the taste of home food is still going strong. But while consumers may be looking for the familiar, they also want something new. This trend isn’t just about updating old classics; it is about infusing dishes with culinary storytelling, heritage, and a touch of nostalgia. Plant-Powered Protein: Veggie Protein Heroes There is an increase in flexitarianism, where people who are not fully committed to a vegetarian/vegan diet substitute 1-2 meals weekly with plant-based dishes for the health benefits. This trend offers a huge opportunity for chefs to provide diners with diverse and inclusive menu choices while reducing their costs and environmental footprint. The New Sharing: Dynamic and Interactive Diners appreciate being able to eat together with fun, tasty food that can be shared in a relaxed setting. The table is used as a setting where food is not just a meal but it’s a driver of joy, laughter, and connection. The opportunity for chefs here is enormous, it is the innovation playground for experimentation, mashups and extravagant experiences that redefine sharing. Irresistible Vegetables: Vegetable Democracy Vegetables are growing in popularity and becoming the stars of chefs’ signature dishes to appeal to the new generation of diners. They are not only nutritious, but also colorful and tasty. But it requires more skill and creativity from chefs to bring out the best in plants. Let’s welcome the change and add more colors to our tables. Feel-Good Food: Holistic Wellbeing Consumers increasingly recognize that our health begins with the choices we make on our plates. And diners will demand dishes that are crafted with care. It is about serving less saturated fat, opting for leaner cuts, and lightening up on the sauces. Feel-good food is about finding that perfect balance where every dish makes you feel better and more energized.

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