Rising Spending Rates Amidst Economic Instability

In a world still grappling with the repercussions of the pandemic, 2023 has posed significant challenges for investors, especially in the Western nations. Central banks have increased interest rates in response to surging demand, leading to a decline in asset values. This scenario has catalysed a shift from saving to spending among Malaysians.

Fitch Solutions’ note on 11 July highlighted an anticipated increase of 5% in spending rates for 2023, peaking at RM1.1 trillion, equivalent to RM866.6 billion at 2010 prices. This followed an 11.8% increase in real spending rates in the previous year, further intensifying the trend away from traditional investment assets.

Shift from Traditional Investment Assets

OctaFX’s study underscores the changing dynamic within Malaysia’s economic activities, as the focus shifts toward spending. Traditional assets, including stocks, real estate, and precious metals, have seen a 5–7% decrease in interest.

Gero Azrul, a financial markets analyst at OctaFX, explains, “This trend is common during periods of high inflation and strict economic policies implemented by central banks. Individuals often divert from investments to purchase tangible assets as a way to ‘invest’ their money. Additionally, the post-pandemic environment has triggered a surge in expenditure for travel and entertainment as people resume their normal activities.”

Cryptocurrency and Forex – The New Safe Havens

Despite the overall shift away from conventional investment assets, the OctaFX study revealed an exceptional trend. Both cryptocurrency and Forex demonstrated a growth rate of 1% and 5% respectively in 2023.

Gero Azrul notes, “Since 2021, we’ve seen a strong correlation between Forex and cryptocurrency investments. These forms of investment are becoming safe havens during times of high inflation and strict economic policies due to their relative resilience.”

With Bank Negara Malaysia likely to halt interest rate hikes and as the world enters a new business cycle, Azrul predicts a revival in investment interest. While Forex and cryptocurrencies are anticipated to maintain their appeal, traditional investment assets may recover some ground due to their demonstrated ability to weather economic downturns.

Also read: Unfolding the 15th National Real Estate Awards: A Testament to Resilience and Excellence in Malaysian Property Sector

About OctaFX

OctaFX, an international broker operating since 2011, provides online trading services to clients across 180 countries and has opened over 40 million trading accounts. Known for its commission-free access to financial markets, OctaFX offers free educational webinars, articles, and analytical tools to assist clients in achieving their investment goals. Additionally, the company engages in numerous charitable and humanitarian initiatives worldwide.

In the APAC region, OctaFX received the ‘Best Forex Broker Malaysia 2022’ award from the Global Banking and Finance Review and the ‘Best Global Broker Asia 2022’ from the International Business Magazine.

The post Forex & Cryptocurrency Ascend as Traditional Investment Assets Witness Decline in Malaysia: OctaFX Study appeared first on Marketing In Asia.

As part of this new development, McCann Worldgroup China has appointed Eve Rong to steer the unit as the Influencer Marketing Director. Rong brings with her a diverse background encompassing entertainment journalism, copywriting, planning, public relations, and a variety of roles within the advertising industry. Prior to joining McCann, Rong made notable contributions as the Director of Artist Coordination for a variety show production company, where she significantly influenced the success of popular shows such as The Voice of China and Street Dance of China.

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The ever-expanding Chinese social media landscape has seen the rise of influencers in every domain. Brands are increasingly keen to leverage these influencers and their massive consumer followings to enhance their marketing efforts. As such, McCann Worldgroup China’s dedicated Influencer Marketing unit arrives to meet this demand, providing an entertainment marketing resource and access to a vast and constantly growing pool of influential figures. More than just an influencer network, this new unit will provide strategic thinking and visionary insights to maximize the effectiveness of utilizing Key Opinion Leaders (KOLs) in marketing campaigns.

Shun Wu, Managing Director of McCann China, acknowledged the necessity for diverse solutions in today’s ever-evolving marketing landscape. She emphasized the growing importance of influencer marketing and the unique expertise that McCann brings to this arena. Wu believes that by incorporating influencer marketing into the planning stage of marketing campaigns, McCann aims to infuse innovative elements into executions, thus driving remarkable client results.

Furthermore, with Rong at the helm, Wu is confident that McCann Worldgroup is well-positioned to establish influencer marketing as a core competency, thereby driving market success.

This news is based on Marketech APAC.

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Led by China Electronics Corp (CEC), the country’s premier state-owned comprehensive electronic information enterprise group, a consortium of Chinese firms developed openKylin 1.0. The group comprised of more than ten software companies, including the China Industrial Control Systems Cyber Emergency Response Team and Kylinsec Technology.

Also Read: Revamping Pensions: Ibrahim’s Initiative for Retirees in the Wake of Legal Disruption

The release of openKylin 1.0 is set to enhance the domestic operating system’s evolution and upgrade. Its impact will be far-reaching, securing critical sectors like government affairs, finance, communications, energy, and transportation. By providing reliable foundational software services, openKylin 1.0 is poised to bolster the nation’s IT industrial chain.

Foreign labels, such as Microsoft Windows, Google Android, and Apple Mac OS, predominantly influence China’s current software operating system industry. However, with the introduction of openKylin, the landscape is set to undergo a significant change. The new open-source system is designed to operate on a variety of hardware devices, including computers and mobile phones.

Last year, CEC revealed openKylin, China’s first desktop operating system developers’ platform. The introduction of openKylin 1.0, therefore, marks a notable progression in the country’s technological capabilities, bolstering China’s status as a significant player in the global software industry.

News based on Asia News.

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The attack on Nagoya port underscores the increasing cyber vulnerabilities faced by shipping networks in Asia as they embrace automation and phase out paper documentation. European ports have already been grappling with similar cyber threats, with pro-Russian groups claiming responsibility for a cyber attack on one of Europe’s largest ports in June.

Also Read: Revolutionizing Wellness: AIA Malaysia’s ‘Subscribe to a Better Life’ Campaign featuring Nicol David

According to Kyodo News, the Nagoya Port Authority attributed the cyber attack to the Russia-based ransomware group Lockbit 3.0. Ransomware attacks typically exploit vulnerabilities in Virtual Private Networks (VPNs) and remote desktop protocols. Ms Mihoko Matsubara, NTT’s chief cybersecurity strategist, stated that such breaches accounted for 80% of ransomware attacks in Japan. She emphasized the need for businesses to routinely update or patch the software they use in their operations.

Ports worldwide have been increasingly targeted by ransomware attacks. In Christmas 2022, cyber criminals infiltrated the computer systems of Portugal’s Port of Lisbon, causing a disruption in operations lasting for days. India’s busiest container port, Jawaharlal Nehru Port Trust, also fell victim to a ransomware attack in 2022. In 2021, South Africa’s port and rail company faced a similar assault from a strain of ransomware linked to groups in Eastern Europe and Russia.

David Suzuki, Japan’s Managing Director of Singapore-based cybersecurity firm Blackpanda, highlighted the rising trend of “double extortion” in recent data breaches. In this method, hackers demand ransom for both the recovery of the stolen data and to prevent its publication.

However, it is not only the maritime industry that is susceptible to these threats. Cyber attacks have also disrupted the automotive sector, with one of Toyota’s suppliers in Aichi prefecture falling victim to such an attack in 2022, which led to a temporary shutdown at 14 factories.

The Port of Nagoya cyber attack’s impact extended to the world’s largest carmaker, Toyota Motor. Although the incident did not affect the shipment of new cars, the loading and unloading of imported and exported parts at the port were halted until the problem was resolved. However, a Toyota spokesman confirmed that production was not affected.

With cyber threats on the rise, it is evident that companies operating in key sectors, like maritime and automotive, need to fortify their cybersecurity defenses. As technological advancements permeate every aspect of business operations, ensuring robust cybersecurity measures is no longer optional but a necessity in today’s digital world.

This article is based on information from The Straits Times.

The post Cyber Siege at Sea: Japanese Port Grapples with Russian Ransomware Attack appeared first on Marketing In Asia.

However, a wave of globalization has seen a shift towards Bahasa Malaysia, English, and Mandarin among the Penang-born youth, creating a disconnect from their linguistic heritage. To remedy this, Penang’s government has taken measures to protect the Hokkien dialect from oblivion.

Caretaker Chief Minister Chow Kon Yeow shared at a recent public forum on Penang Hokkien that a proposal to enshrine the dialect as a state heritage is being considered. This official recognition under the Penang Heritage Enactment 2011 would serve as a beacon to retain the cultural legacy of Penang. Alongside this, Chow expressed his hope that locals would continue to incorporate Hokkien in their everyday conversations.

Also read: The Power Play Unfolds: High-stakes State Elections Set for August 12

In support of this endeavor, Chow introduced the Penang Hokkien Dictionary and the ‘Learn Penang Hokkien’ YouTube channel by local activist Timothy Tye. Further, Yeoh Soon Hin, Caretaker State Executive Councillor for Tourism and Creative Economy, affirmed that the process of making the Hokkien dialect a state heritage is in motion.

Despite the dialect’s existence in Penang for over three centuries, its prevalence has dwindled, as the younger generation leans towards Mandarin, Bahasa Malaysia, and English. To counter this, Yeoh noted that the state encourages educational institutions to promote Hokkien among students. An initiative by Han Chiang University College to produce a video of Penang Hokkien has also gained his endorsement.

(Source: Malay Mail)

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In the forthcoming months, Iris Singapore is set to launch the bank’s brand positioning and subsequently, orchestrate the bank’s maiden integrated campaign across various touchpoints in the Philippines. Operating on a ‘phygital’ model—a blend of physical and digital operations—GoTyme Bank intends to revolutionize the Filipino banking experience by prioritizing customer service and accessibility.

Also Read: Navigating Through a Pessimistic 2023: An Examination of Southeast Asia’s Economic Performance

The upcoming campaign will spotlight GoTyme Bank’s unique stance in the market, an element that the bank hopes will propel its mission of delivering cutting-edge banking products and services to the Filipino customers. As the victorious agency from the pitch, Iris Singapore is tasked with defining and enlivening the bank’s brand positioning.

Iris Singapore has welcomed the new collaboration enthusiastically. Priya Kalidas, head of growth at Iris Singapore, expressed delight over the partnership, praising the team’s passion and conviction that won the pitch. She noted their anticipation to assist the bank in unlocking its immense potential and steering the next successful chapter for GoTyme.

Cristina Sanchez, Iris Singapore’s executive creative director, underscored the opportunity to partner with GoTyme Bank in the Philippines and uplift people’s lives. GoTyme Bank’s chief marketing officer, Raymund Villanueva, voiced his confidence in Iris Singapore’s pitch ideas that aim to unlock Filipinos’ financial potential through a human-led campaign.

Meanwhile, Rebecca Nadilo, the newly appointed managing director of Iris Singapore, is set to steer the agency into a new era, leveraging her vast experience from working across Singapore, Australia, and the U.S., with high-profile brands such as HSBC, Visa, Smirnoff, Tiger, Unilever, AT&T, and Johnson & Johnson.

The news is based on a report by Marketing Interactive.

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During the ministry’s monthly meeting, Ramli, also the Member of Parliament for Pandan, addressed the doubts surrounding some policies such as the Progressive Wages Policy scheduled for implementation in August. He acknowledged that the early stages might be met with skepticism due to the extended timeline required to observe the policy’s impacts. 

Undeterred, Ramli urged his team to prepare for what he likened to a marathon of policy implementation. The ministry, he noted, bears the responsibility not only for policy formulation and approval but possibly its execution. Ramli stressed the importance of diligence and transparency at the policy stages. 

As policymakers, Ramli acknowledged the inevitable criticism and cynicism, stating it’s a reality they must confront. The ministry, under his leadership, is responsible for essential, albeit unpopular, reforms to revamp an economy historically reliant on pump priming, subsidies, and cheap labour. 

The former chartered accountant and engineering graduate outlined his goals, including raising income levels and re-adjusting subsidy distributions, despite these policies often taking time to generate results. Amid the public’s growing impatience due to soaring inflation and living cost pressures, some of his initiatives, like the People’s Income Initiative, have faced criticism. 

However, Ramli dismissed these critiques, attributing them to a lack of understanding of policy operations. He reaffirmed his commitment to his tasks and is slated to introduce the Progressive Wage Policy in August. Although the specifics remain undisclosed, the policy aims to help the country escape the ‘middle income trap’ by gradually raising salaries. 

Capping his morning address, Ramli stated that effecting significant changes in society and the economy wouldn’t happen overnight. Despite the naysayers, he remains optimistic, drawing parallels between policy implementation and playing American football, focusing on steady, progressive steps. 

This news story is based on an article published on malaymail.com. 

The post Rafizi Ramli Steadfast Amid Skepticism: Unveils Economic Reforms in Anwar Administration appeared first on Marketing In Asia.

Anwar’s comments come in the wake of Mahathir’s claims that the unity government, under Anwar’s leadership, is promoting multiculturalism, which Mahathir argues contradicts the Federal Constitution’s endorsement of Malaysia’s “Malayness”. Mahathir’s assertions seem to be grounded in his interpretation of Articles 152 and 153 of the Constitution, which respectively declare the Malay language as the national language and provide for reservation of quotas for the Malays and Bumiputera.

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In his response, Anwar defended the importance of both the Malay language and English in Malaysia’s socio-cultural and educational fabric. “I am of the view that Bahasa Melayu is the national language and also the language of knowledge. But I also think that the English language remains important as a language to master,” Anwar stated, pointing out the previous administration’s neglect of upholding the dignity of Bahasa Melayu.

Anwar also countered Mahathir’s claims that his administration was unduly influenced by the 40 Members of Parliament from the Democratic Action Party (DAP). Anwar asserted that DAP has never questioned the position of Islam and the Malays, nor has this issue been raised during Cabinet meetings. “I am no one’s political puppet,” Anwar declared, distancing himself from any insinuation of political subservience.

While it’s true that the Constitution stipulates the Malay language as the national language and outlines the reservation of quotas for Malays and Bumiputera, it does not explicitly state that Malaysia is a multi-ethnic country. Nevertheless, Article 8 of the Constitution guarantees equality among all citizens, specifying that no individual should face discrimination based on their ethnicity. This foundational tenet underscores the multicultural essence of Malaysia and reinforces the need for an inclusive approach to governance, which Anwar’s unity government strives to uphold.

This development reveals the tension within Malaysian politics, illustrating the challenge of navigating between upholding the Federal Constitution’s principles and managing various interpretations of it. Anwar’s statements reaffirm his commitment to govern according to the Constitution’s guidelines and his determination to lead a government that respects the diverse fabric of Malaysian society.

This news is based on information provided by Malay Mail.

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Restoring the classic ferries, according to Guan Eng, will incur operation costs surpassing RM30 million. However, financial hurdles aren’t the only obstacles to their reintroduction. As Guan Eng revealed, the prior federal administration demolished the ferry terminals crucial to their docking. 

Consequently, even with successful restoration of the old ferries, the absence of a docking terminal poses a significant issue. “Even if we restored the old ferries, there is no terminal for it to berth,” Guan Eng clarified in a statement on his Facebook page. 

This predicament implies the government cannot immediately restore the ferry services. In response, the idea of constructing a new ferry terminal, capable of handling transport vehicles, is under serious consideration by the unity government. However, this option, too, is marred by substantial costs. 

The historic car-carrying ferries were retired on January 1, 2021. Furthermore, the single remaining ferry, which serviced the Penang channel for motorcycles and bicycles, ceased operations this year. Pedestrian passengers have since been compelled to use fast boats departing from the Swettenham Pier Cruise Terminal. 

In spite of these setbacks, new ferries exclusively for foot passengers are anticipated to commence operations next month. 

This news is based on an article from malaymail.com. 

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While addressing the current economic hardship due to the pandemic, Ramli stated that Maybank has been instrumental in facilitating payments for its borrowers, especially low-income households and small businesses requiring repayment assistance. So far, Maybank has extended repayment aid to over 430,000 borrowers in Malaysia, with around 52,000 borrowers receiving various forms of active repayment support.

Also Read: Taking Giant Leaps: KGW Group’s IPO set to Raise RM16.73 Million for Expansion

These initiatives align with Malaysian Prime Minister, Anwar Ibrahim’s appeal to banks to continue providing loan repayment assistance to individuals and SMEs in need, encompassing loan restructuring and rescheduling.

Endorsing PM Anwar’s call, Ramli emphasized Maybank’s unwavering commitment to maintaining a robust and stable economic environment for businesses and individuals. The bank aims to leverage its financial sector expertise to steadfastly support its customers and clients.

In keeping pace with technological advancements, Maybank is capitalizing on its digital capabilities to offer diverse and convenient financial solutions to its customers. The bank’s digital platforms cater to various customer segments, from institutional corporates and SMEs to retail consumers.

Maybank has also launched a cross-border quick response (QR) payment service recently. This service allows customers traveling to Singapore, Indonesia, and Thailand to conduct instant, cashless payment transactions via Maybank’s MAE app.

John Chong, Maybank’s Group Chief Executive Officer of Community Financial Services, underscored the critical role this cross-border QR payment service plays in facilitating travel for Malaysians abroad and tourists visiting Malaysia. The service allows users to make cashless payments in their home country’s currency, promoting efficiency and boosting the digital economy and financial inclusion across the ASEAN region.

This news is based on a report by Marketing Interactive.

The post Maybank Targets RM12 Billion for SME Financing, Bolsters Support with Digital Innovations appeared first on Marketing In Asia.

According to the PM, stringent actions must be enforced against those who partake in corrupt practices. Emphasizing his role, Anwar iterated that the top leadership should not assume that everything is fine. Instead, they must verify facts firsthand. He emphasized the necessity of improvement over fault-finding or generic condemnation. 

Ibrahim confirmed his commitment to defending the integrity of the Immigration Department during his surprise visit to Kuala Lumpur International Airport’s (KLIA) Terminal 1. However, he sternly warned the handful still practicing ‘old ways’, declaring the necessity for immediate and uncompromising action to protect civil service careers, the department’s image, and the country at large. 

The Prime Minister, though generally pleased with the level of service despite some deficiencies, emphasized that such flaws must be regularly corrected. He reminded everyone that striving for excellence is an enduring concept, not a novelty. 

Earlier, Datuk Seri Tiong King Sing, the Minister of Tourism, Arts, and Culture, had sparked controversy by allegedly entering KLIA’s Terminal 1 arrival hall without a valid pass. Anwar responded, stating the Cabinet would discuss the incident and Tiong’s subsequent allegations on Wednesday. 

Tiong, on Friday, clarified that his presence at KLIA’s Terminal 1 was for an official visit, and he possessed a valid pass. He further accused Immigration officers of soliciting RM3,000 from foreign tourists for release from detention, with an additional RM3,000 for an immediate return via a “special lane” and RM12,000 for visa processing. 

The Malaysian Anti-Corruption Commission (MACC) has since commenced investigations into these allegations involving the Immigration Department. Both Tiong and a Chinese national are expected to appear at the MACC headquarters today. 

This news story is based on an article from malaymail.com. 

The post Prime Minister Urges Revamp in Civil Service amid Allegations on Immigration Department  appeared first on Marketing In Asia.

The strategic financial exercise includes the public issue of 79.66 million new shares. Offered at the intriguingly attractive price of 21 sen per share, the raised funds are earmarked to facilitate the growth and broadening of KGW’s business scope, which has already left indelible footprints on the U.S. market. 

Datuk Roger Wong, the dynamic managing director of KGW Group, recently unveiled the group’s ambitious expansion strategy. While acknowledging their robust position in the U.S. market, Wong expressed a desire to grow the group’s reach further into diverse geographical markets. “Our roadmap doesn’t stop at the U.S. market,” he declared. “The Asian markets, such as China, Middle East territories, and the Americas, both North and South, are very much on our radar.” 

As part of this comprehensive strategy, Wong revealed plans to bolster the sales and marketing department with an international business development team. This key component aims to facilitate the group’s growth in the global logistics arena. 

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Citing KGW’s status as an asset-light logistics provider, Wong clarified that their key expertise lies in managing and coordinating the supply chain’s goods movement. “Our value proposition to our clients is not about owning physical transportation assets. Instead, we prioritize offering value-added services that streamline our customers’ entire shipment process. Our strategy is to leverage partnerships and collaborations with existing transportation operators,” Wong explained. 

Upon successful completion of the IPO, KGW Group is expected to boast a staggering market capitalization of RM101 million. Public subscriptions for the IPO will be open until 5 pm on July 18, 2023. 

This grand initiative is supported by several esteemed financial institutions. TA Securities is acting as the principal adviser, sponsor, underwriter, and placement agent for the IPO exercise, with Eco Asia serving as the financial adviser. 

Drawing from the collective strength of their partners, KGW Group is poised to step into new markets, confident of making impactful strides in global logistics. 

This news article is based on information gathered from the ‘thestar’ website. 

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A culinary renegade in his own right, Chef Ton stands at the forefront of an emerging generation of chefs shaking up Bangkok’s gastronomic scene. His Le Du, which translates to “Season” in Thai, is a testament to this culinary evolution, leading the pack in the list of Asia’s 50 Best Restaurants as per a prominent British gastronomy guide. 

This recognition marks a milestone in his decade-long mission: to challenge and broaden global perceptions of Thai food. Chef Ton embarks on this endeavor by reinterpreting traditional Thai dishes and integrating local, seasonal produce to create an exclusive dining experience. 

Gone are the days when Thai food was perceived merely as inexpensive street food, and fine dining was a privilege reserved for Western cuisine. Chef Ton’s vision aims to elevate Thai food to a refined cuisine, celebrated and revered just like its French or Italian counterparts. 

Also Read: InterContinental Bangkok: An Icon Reborn – Fusing Thai Heritage and Modern Elegance 

His creations, served in four-course and six-course tasting menus, radiate ingenuity. A noteworthy example is his take on the traditional rice dish, Khao Chae. He innovatively pairs it with a shrimp and pork pate, pickled radish, and jasmine ice cream. His signature dish, the river prawn, served with pork belly jam and shrimp-paste organic rice, is a homage to his favorite street food. 

Located in the midst of Bangkok’s bustling financial district, Le Du embodies an intersection of tradition and innovation. Chef Ton often frequents local markets, drawing inspiration from seasonal produce for his menu. With an education from top-tier restaurants in New York City and a massive social media following, he is well-versed in pushing culinary boundaries and appealing to a global audience. 

Despite the ups and downs of the restaurant business, Chef Ton is confident that the newfound global appreciation for Thai cuisine is here to stay. Through Le Du and the seven other restaurants he manages, he hopes to demonstrate that Thai cuisine is second to none. 

This news is based on the MalayMail website. 

The post Revolutionizing Thai Cuisine: Chef Ton’s Le Du, Asia Top Fine Dining Experience appeared first on Marketing In Asia.

Previously, South Koreans were considered a year old at birth under one traditional system, counting the time in the womb. Moreover, this system would add a year to everyone’s age on the first day of January each year, irrespective of the individual’s birth date. For instance, a child born on December 31st would technically be two years old the next day, leading to significant confusion. 

This remarkable age-counting shift, primarily advocated by President Yoon Suk Yeol during his electoral campaign, took effect on Wednesday. Yoon was steadfast in his advocacy for the change, citing the “unnecessary social and economic costs” created by the age-old methods of age calculation. These traditional systems have provoked controversies in determining eligibility for insurance pay-outs and government assistance programs, thus, incurring unnecessary burdens on the country’s socio-economic landscape. 

Also Read: South Korea Takes Major Steps to Curb Spiraling Private Education Costs Amid Fertility Crisis 

The most prevalently used age-calculating method in the past was the centuries-old “Korean age” system. Under this system, an individual was considered one year old at birth and would age an additional year on every first day of January. Another age-counting system, also traditionally employed in the country, considered a person zero at birth, adding a year every New Year’s Day. However, these methods diverged from international norms, causing inevitable confusion and contention. 

Lawmakers elected to discard the traditional counting methods last December, paving the way for this groundbreaking transition. Despite the sweeping shift, many existing statutes based on the “counting age” calendar year system will still persist. A quintessential example of this is the legal age for purchasing cigarettes and alcohol in South Korea, which is based on the year rather than the exact day a person turns 19. 

Public opinion on this radical transition has been overwhelmingly positive. A survey by Hankook Research in January 2022 found three-quarters of South Koreans in favor of the standardization. Individuals like Jeongsuk Woo, a 28-year-old content creator, are hopeful that this transition will challenge and eventually dismantle Korea’s hierarchical culture. 

Finally, it’s worth noting that South Korea’s medical sector has already been implementing the international age system. Moreover, other East Asian countries had previously abandoned traditional age-counting systems, with Japan adopting the international standard in 1950 and North Korea in the 1980s. 

In conclusion, the future of South Korea’s societal and economic fabric will be deeply impacted by this alignment with international standards. This law sets a benchmark for social change by challenging age-old traditions and norms, thus reflecting South Korea’s readiness for a future rooted in global unity and understanding.

(News Source: marketing-interactive website) 

The post The Fountain of Youth in Legislation: South Korea’s Innovative Shift to International Age Counting Standards appeared first on Marketing In Asia.

As you step into the showroom, you’re greeted with a sleek, linear design that embodies modernism while maintaining a minimalist appeal. A large, reflective red totem standing guard at the entrance and traditional cursive signage above your head set the tone for a visceral experience, symbolising the brand’s legacy. The showroom design brings together technology and aesthetics in perfect harmony, creating an environment that resonates with the Alfa Romeo tribe’s core values.

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The space is adorned with the historic “Alfa Red” – a bold, vibrant hue that has been associated with the brand’s noble sportiness since its inception in 1910. This vivacious red is elegantly complemented by various shades of grey, a tribute to the premium quality and cutting-edge technology of Alfa Romeo’s fleet.

The showroom’s interior is inspired by nature, showcasing an array of unique tactile materials, innovative textures, and colorations. The red acts as a burst of magma amidst rocks, accentuated by warm red LEDs illuminating the display areas.

More than just a venue for showcasing and selling vehicles, Alfa Romeo’s new showroom is a gateway to an immersive Italian lifestyle and culture. Visitors can indulge in wine tasting, sip authentic Turino coffee, socialise with other Alfa Romeo enthusiasts, and gain insights into the brand’s rich heritage and the Alfa Romeo tribe lifestyle.

The opening of the flagship showroom signals Alfa Romeo’s enthusiastic return to Hong Kong and Macau through its exclusive local distributor, Azzurri Automobile. Alfa Romeo Hong Kong – Azzurri Automobile CEO, George Lau, expressed his delight in being the first showroom in the Asia-Pacific and India region to showcase the brand’s new identity. Alfa Romeo’s first flagship showroom in Hong Kong is more than a retail space; it’s a comprehensive brand experience that combines heritage, innovation, and Italian-style lifestyle.

This news is based on Marketing Interactive.

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Tucker Carlson stepped down from the network in April, following Fox Corp’s settlement of a hefty US$787.5 million (RM3.7 billion) defamation lawsuit with Dominion Voting Systems, wherein Carlson played a prominent role.

Starting July 17, Watters will transition to the 8pm time slot, presenting his opinion programme, “Jesse Watters Primetime,” which originally aired at 7pm last year. Fox News asserted that Watters’ show amassed more than 2.6 million viewers this year, including 270,000 from the key 25-54 age demographic. This accomplishment positions his programme as the highest-rated 7pm show in cable news history.

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Carlson’s talk show, “Tucker Carlson Tonight,” held the previous record for the highest-rated cable news programme among the same demographic, ensuring Watters steps into significant shoes.

Watters started with Fox News in 2002 as a production assistant. His career at the network flourished, leading to interviews with high-profile personalities such as former President Donald Trump and entrepreneur Mark Cuban on his weekend show “Watters’ World,” which debuted in 2017.

In spite of calls for Watters’ dismissal by infectious diseases expert Anthony Fauci in 2021, Fox News chose to support Watters following his controversial plea for conservatives to “ambush” Fauci.

After Carlson’s exit, Fox News experienced a 32% decrease in average total prime-time viewers in May compared to the previous month, as reported by AdWeek using Nielsen data. Nevertheless, Fox News remains the highest-rated cable news network in total viewership and among adults aged 25-54.

Following Carlson’s departure, Fox News temporarily filled the 8pm slot with “Fox News Tonight,” hosted by a rotating group of Fox News personalities. Now, with Watters taking over the 8pm slot, Laura Ingraham will move her show to the 7pm slot, and late-night host Greg Gutfeld will take over the 10pm slot. Sean Hannity will continue anchoring the 9pm show, the network confirmed.

News based on Malay Mail.

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“Music of the Spheres” Inspires Cross-Border Journey

Singapore takes centre stage in Asia as the main stop for Coldplay’s much-awaited six-day ‘Music of the Spheres World Tour’. This key event has substantially spurred accommodation searches, with increased interest not only from nearby countries but also from regions like Hong Kong, Thailand, the USA, Australia, Vietnam, India, the Philippines, and beyond.

Unveiling The Unforeseen Influence of Music on Travel

Enric Casals, Regional Associate Vice President Southeast Asia at Agoda, commented, “Music inspires a great deal of passion, and dedicated fans are truly remarkable as they will travel far and wide to see their favourite acts live.” The remarkable rise in accommodation bookings perfectly exemplifies the magnetic pull of live musical experiences and their substantial impact on travel decisions.

Still Ample Options for Accommodation in Singapore

Despite the dramatic rise in bookings and searches for Singaporean properties, Agoda assures travellers of numerous available offers in the Lion City. Travelers can enjoy additional discounts when bundling flights and hotels for trips to Singapore and worldwide, enabling more affordable global exploration.

Also read: The Revolutionary vivo Y36 5G: Malaysia’s New Favourite Smartphone in 5G Category

The top ten countries with the highest search increase for travel to Singapore are Indonesia, Malaysia, the Philippines, Brunei, the United States, Thailand, Sri Lanka, Hong Kong, China, and Australia.

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As a consumer, accessing the CRP has been kept simple and straightforward. The portal is accessible via aduan.mcmc.gov.my, welcoming users with an intuitive, user-friendly interface. Particularly, if you’re grappling with issues concerning your telecommunications service, the portal’s front page now offers a shortcut for users to check on a telco’s network status, scheduled maintenance, and outages. 

The CRP covers five distinct sectors: telecommunications, postal and courier, online content, broadcasting, and subsidiary matters. To lodge a complaint, users are required to register an account, which includes email verification. Upon completion of registration, users can file a complaint in the intended sector by clicking on the “New Complaint” option and providing as much information as possible about their concern. One of the standout features of the CRP is its ability to let users track the status of their submitted complaint and receive additional support when required. 

Also Read: Beware the Pink Trap: MCMC Cautions Against the “Pink WhatsApp” Application’s Potential Security Threats

Before escalating your 4G, 5G, or fiber broadband issues to the MCMC via the CRP, users are encouraged to initially report their problem to their respective telcos and service providers. Only if the response is unsatisfactory or the provider fails to resolve the issue should you then proceed to file a complaint via the CRP. 

The MCMC ensures that every complaint received is taken seriously and is acted upon promptly. It reaches out to the relevant industry forums such as the Consumer Forum, Postal Forum, and Content Forum to conduct complaint redressal through mitigation and mediation between the industry and consumers. If non-compliance is identified in the delivery of service to consumers, the MCMC conducts an investigation into the matter. 

The CRP is a testament to the MCMC’s commitment to its consumers, offering them a platform to voice their concerns and ensuring they are addressed effectively. It is a significant step forward in enhancing the customer service experience in Malaysia’s digital landscape.

This news is based on the report by the Malay Mail .

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Scheduled for September 10th at Axiata Arena, Bukit Jalil, this additional show complements the existing Malaysian tour stop on September 9th. The exhilarating back-to-back performances are now expected to attract an audience of 20,000 concertgoers across both nights, a testament to the magnetic pull of Chau’s music. 

Also Read: Alipay+ Extends Its Reach to All 7-Eleven Stores in Malaysia

Tickets for Chau’s first World Tour concert in Malaysia became available on June 16, quickly flying off the virtual shelves. Within 90 minutes, the entire inventory had been snapped up, catching even the seasoned event organiser, Star Planet, off guard. Encouraged by this overwhelming demand, the decision to add an extra show was a natural course of action, granting more fans the opportunity to be part of this highly anticipated musical event. 

Chau, known for his evergreen soundtracks and timeless love ballads from the 90s, promises his audience a fresh take on his most beloved songs. Fans will be taken on a nostalgic journey, reminiscing the golden era of music as they reconnect with the melodies that have been deeply etched in their hearts. It will be a unique experience, breathing new life into the classic tracks that have helped to cement Chau’s place in the pantheon of music greats. 

Fans who missed out on the initial ticket sale now have a second chance to secure their spot at the musical extravaganza. Tickets for the additional show will be priced from RM288, becoming available from 2pm onwards on July 4 at my.bookmyshow.com. 

This exciting news is based on the article on the malaymail website. 

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Permodalan Nasional Bhd’s (PNB) President and Group Chief Executive, Ahmad Zulqarnain Onn, unveiled these figures during a recent press conference. He attributed this remarkable financial impetus to the increased fund limit, stating that Bumiputra unit holders contributed to 30% of this new capital.

Also Read: Shining Bright: Meerqeen, Malaysia’s New Gem in Tiffany & Co’s Star-Studded Line-up

The increased capital came from approximately 96,000 unit holders, indicating a robust interest and confidence in these investment avenues. This is a positive outcome for Malaysia’s economy, opening up new investment channels and strengthening the overall financial infrastructure.

Beginning April 1, 2023, the investment limit for ASB and ASB 2 was escalated from RM200,000 to RM300,000, whereas, from May 1, 2023, the fund size of ASM increased by a massive RM5 billion.

Also Read: Unlocking the Potential of Luxury Auto Market in Emerging Indian Cities: A New Era of Growth

These funds, managed by PNB’s wholly-owned unit trust management company, Amanah Saham Nasional Bhd, have effectively harnessed the change in financial policy, successfully attracting a sizeable amount of new capital into the Malaysian market. This trend testifies to the potential of these funds as profitable investment options, thereby strengthening their position in the marketplace.

As per reports, this news is based on Malay Mail.

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The tainted syrups were found to contain harmful industrial-grade chemicals instead of medicinal-grade ingredients, causing severe health implications. These deadly concoctions were traced back to eight individuals from local firms responsible for importing and distributing raw materials to the pharmaceutical manufacturers. 

This escalating situation has put Bpom, Indonesia’s drugs regulatory body, under intense scrutiny, as global and local forces demand accountability. Although no formal accusations have been made against Bpom officials yet, several have been brought in for interrogation. Andika Urrasyidin, the case’s lead investigator, stated that while the investigation was ongoing, actions would need to be taken if any wrongdoing was identified. 

The officials were interrogated as witnesses rather than suspects, with questions focusing on the nature of their supervision over these harmful products’ distribution. This process has mainly involved staff from lower levels, with Bpom’s chief, Penny Lukito, remaining out of the crosshairs. 

Also Read: Fuel Feud at Johor Baru: The Viral Incident Igniting Cross-Border Controversy

Interestingly, Bpom attributes the rise in acute kidney injury cases to multiple parties exploiting a loophole in the safety guarantee system. It alleges that pharmaceutical companies did not adequately verify the raw materials they used in their products. 

Earlier this year, authorities unveiled that a company sold industrial-grade toxins, namely ethylene glycol and diethylene glycol, as pharmaceutical-grade propylene glycol. These dangerous chemicals, which are significantly cheaper, can be used unethically as substitutes for propylene glycol, a vital component in syrup-based medicines. 

The companies entangled in this scandal include drug manufacturer Afi Farma, alleged to have sold the tainted syrups, chemical supplier CV Samudera Chemical, and distributors Tirta Buana Kemindo and Anugrah Perdana Gemilang. All four companies have been charged in the case, with Afi Farma’s trial having already commenced. 

Adding another layer to this complex saga, Bpom faces a separate class-action lawsuit initiated by grieving parents. Their children either perished or are now suffering from the long-term consequences of acute kidney injury due to the harmful cough syrups. As the investigation and court proceedings continue, the search for justice and accountability persists. 

This news is based on information from the Malaymail website. 

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The young star took to Instagram to reveal his association with the iconic brand, posting a captivating 15-second clip. In the video, he elegantly showcases Tiffany & Co’s glittering accessories. The brand reciprocated his enthusiasm by responding to the post with a fitting diamond emoji, a symbol that resonates deeply with Tiffany’s core identity. 

Meerqeen, expressing his excitement about this partnership, mentioned that he has been a consistent admirer of Tiffany’s impeccable craftsmanship and was honored to represent the brand. While this association marks his first with Tiffany & Co, Meerqeen is no novice when it comes to the luxury market. His impressive portfolio includes a recent stint as a brand ambassador for Dior, promoting its Dior Men Summer’24 show. He has successfully created a strong brand presence, highlighting his adaptability and influence within the luxury industry. 

Also Read: Tiffany & Co. Taps K-Pop Star Jimin as Global Brand Ambassador

However, Tiffany & Co’s big announcement isn’t the only recent buzz in the world of luxury fashion. Spanish fashion house Loewe has also appointed TAEYONG as its new brand ambassador. TAEYONG, well-known for his unique style and passion for fashion, has been a vocal supporter of LOEWE’s innovative designs and craftsmanship. Both Loewe and TAEYONG celebrated this collaboration with Instagram posts, signaling an exciting journey ahead. 

Loewe’s Creative Director, Jonathan Anderson, expressed his delight in welcoming TAEYONG to the Loewe family. He praised TAEYONG for his affinity for the brand, highlighting his fondness for Loewe’s unique pieces. 

This wave of ambassador appointments reflects a growing trend within luxury brands to embrace popular figures who resonate with a global audience. Their unique fashion statements and broad fanbases help amplify the brand’s reach and relevance. Both Meerqeen and TAEYONG’s collaborations with Tiffany & Co and Loewe respectively serve as testaments to this evolving dynamic in the luxury industry. 

This news is based on the marketing-interactive website. 

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Fomca’s secretary-general, Datuk Paul Selva Raj, advocates for the introduction of a Consumer Well-being Index that gauges Malaysians’ satisfaction levels with everyday life.

Selva Raj highlights the disconnect between the declarations of policy makers and the reality faced by ordinary consumers. The GDP and CPI do not necessarily reflect the actual living conditions of citizens. For instance, a housewife might find market prices for essential goods have doubled, rendering a low CPI meaningless.

The proposed Consumer Well-being Index would use three key metrics: Subjective well-being, economic security, and trust in government. Subjective well-being focuses on issues impacting the people’s lives, such as cost of food, housing, and healthcare, and their outlook towards the future. The second metric, economic security, gauges how vulnerable consumers feel to their income being affected by external events. The final metric assesses public trust in the government and institutions that directly impact consumers’ well-being.

Also read: Work-Life Balance: A Struggle for the Majority of Malaysians

Real-life experiences will dictate the quality of well-being. Voters are concerned about matters such as fair income employment, job security, affordable living, and access to essential services like healthcare, education, and water supply.

In a World Bank study conducted in Malaysia from 2012-2018, it was noted that both rural and urban households experienced increasing difficulties. This highlights the necessity for an alternate metric that reflects the people’s realities better than GDP or CPI.

As Malaysia progresses, broad measures like GDP and CPI are handy but insufficient. For policy makers to ensure ‘real progress’ for the rakyat, they must comprehend their perceptions and sentiments to formulate and implement effective policies.

This news is based on an article by the Malay Mail.

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However, the preliminary guidelines stipulate that generative AI shouldn’t be deployed in exams assessing students’ academic prowess. Also, students shouldn’t use such AI technology without understanding its capabilities and constraints. Using it to create poems or artworks without careful deliberation is deemed unfitting.

Also Read: India Set to Conquer the Skies: Accelerated Aviation Growth Foreseen in the Next Decade

The ministry aims to release these guidelines as early as July, post revision based on expert opinions. The draft encourages cultivating the capability to prudently use generative AI while cautioning against its unrestricted usage due to potential impact on students’ critical thinking and creativity, risks of data leaks, and copyright infringement.

According to the sources, teachers are expected to guide students on ethical implications, such as not presenting essays written by generative AI as their own.

Emphasizing data safety, the guidelines recommend not inputting personal or confidential data into AI programs. They also caution against public sharing of AI-generated texts or images outside classrooms due to copyright risks.

The guidelines suggest generative AI could be employed to lessen teachers’ workloads, for tasks like drafting sports day programs, creating test questions, or crafting parent notices. However, teachers should review and revise the AI-generated content as needed.

Generative AI tools like ChatGPT, developed by U.S. tech company OpenAI, are trained on vast internet data, allowing them to mimic human-like conversations or generate images based on user instructions.

This news is based on a report from Japan Times.

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In a response to Bernama today, AMMB emphasized that it adheres strictly to best practices and corporate governance standards, and will make appropriate Bursa announcements when there is concrete information to share.

Meanwhile, market analysts such as Kenanga Research have been airing their views that the present macroeconomic climate and AmBank’s current fundamental outlook may render it ripe for an M&A. The research firm argued that the conditions could create an appealing opportunity for a potential merger.

Also Read: India Set to Conquer the Skies: Accelerated Aviation Growth Foreseen in the Next Decade

This is not the first time such rumors have swirled around AmBank. Just last year, the market was rife with speculation about possible merger talks between AmBank and RHB Bank Bhd and potential acquisition of a stake in AmBank by Grab Holdings Ltd.

In response to these speculations, RHB Bank Bhd maintained that it is not currently seeking any M&A opportunities. However, the bank clarified that it remains open to evaluating any potential opportunities should they arise.

At present, RHB Bank’s main focus is on its three-year corporate strategy dubbed ‘Together We Progress 2024 (TWP24)’, which centers on organic growth. The strategy revolves around becoming a primary bank for all, prioritizing customer experience, and driving quality growth. This customer-centric approach forms the cornerstone of their business ethos.

As such, while the market continues to speculate on potential M&As, both AmBank and RHB Bank remain committed to their strategic plans and objectives. Any deviations from these plans will be duly communicated to the market.

This news is based on an article from Malay Mail.

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The contention appears to centre around Ron95, a significantly subsidized fuel type in Malaysia. The rules stipulate that it may not be used in foreign-registered vehicles, making this fuel type much sought after due to its lower cost. 

The scene unfolded when a video, shared by an irate Grabfood delivery rider on his personal TikTok account “matkibot”, began circulating on social media platforms. The clip showcased the Singaporean duo being challenged by the delivery rider, with tensions escalating to the point where auxiliary police officers had to intervene to maintain peace. 

The details of what led to law enforcement’s involvement remain shrouded in mystery. A statement from Malaysian police confirmed the car was Singapore-registered, hinting that the contentious fuel was destined for go-karting purposes. A heated exchange between the Singaporean men and the delivery rider unfolded under the watchful eyes of the officers, with demands for arrests and allegations of fight invitations filling the air. 

Also Read: Embracing Differences: SG Enable’s ‘UnAwkward’ Campaign Breaks Down Social Barriers for the Differently Abled

The scene took a turn when one of the Singaporean men wielded what appeared to be a steering wheel lock. A verbal tit-for-tat ensued, and soon the man was on camera demanding the recording’s deletion. As one officer tried to secure the rider’s identification, the second Singaporean attempted to seize his phone. 

Despite the tense situation, the Singaporean men stood firm in their assertion of innocence, claiming approval from a petrol kiosk employee and laying blame on the delivery rider for inciting the dispute. The TikTok post documenting the incident rapidly garnered over a million views and 51,000 likes, quickly spreading across other platforms even after its deletion. 

After the incident went viral, a response emerged from the Iskandar Puteri Regional Police. They clarified that the incident occurred around 8.35pm on June 16 at a Caltex petrol station in Sunway Box, Johor. The misunderstanding was peacefully resolved, with no further escalation thanks to the Sunway auxiliary police officers present at the scene. 

The incident has stirred up a swarm of public responses from both Malaysians and Singaporeans alike. Some have questioned the perceived leniency towards foreigners, while others have expressed shame or defended the actions of the involved Singaporeans. While the online debate rages on, the incident serves as a potent reminder of the complexities surrounding cross-border regulations and the ease with which misunderstanding can fuel controversy. 

This article is based on a report from the Malaymail website.

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The news has caused a palpable stir in Singapore, even before tickets officially go on sale on the 5th of July. Particularly noteworthy is the scramble amongst many Singaporeans to apply for UOB cards, which would grant them special pre-sale access to the coveted tickets. 

But it’s not just fans who are caught up in the ‘Taylor Swift frenzy.’ Numerous local brands are capitalizing on the excitement surrounding the tour. With strategic trend jacking, they are using the immense popularity of the artist to their advantage, incorporating it into their promotional material. 

Also Read: Experience Taylor Swift’s Magic in Singapore – An Exclusive Asian Tour Stop!

Several Singaporean brands are notably embracing this approach, posting quirky social media posts and memes, as well as TikTok videos related to the upcoming Taylor Swift concert. This proactive trend jacking creates an association between their brand and a major cultural event, increasing their visibility while also engaging with their audience in a fun and relevant way. 

Among the brands that have expertly woven this momentous event into their digital strategies are CapitaStar Singapore and foodpanda Singapore. Both are finding innovative ways to integrate Taylor Swift’s concert into their social media posts and promotional materials. 

Likewise, Frank by OCBC, Lazada Singapore, Sentosa Singapore, and Shopee Singapore have all taken this opportunity to align themselves with the star power of Taylor Swift. They have all produced content around the singer’s upcoming tour, cleverly capturing the attention of potential customers while participating in the ongoing social media buzz. 

This innovative approach by these brands showcases the importance of staying culturally relevant and understanding the interests of their consumer base. As these companies demonstrate, riding on the wave of a cultural phenomenon, like a Taylor Swift concert, can be an effective way to engage audiences and gain traction in the competitive world of social media. 

This news is based on the marketing-interactive website. 

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The Malaysian Communications and Multimedia Commission (MCMC) expressed concern over a significant volume of content on Facebook, spanning themes of race, royalty, religion, defamation, impersonation, online gambling, and fraudulent advertising. The commission asserts that these types of content could harm societal harmony and threaten consumer safety. 

Meta has reportedly been slow to respond to these concerns, prompting Malaysian authorities to consider legal avenues to encourage greater cybersecurity accountability and consumer protection. 

Also Read: The Metaverse Manifesto: Zuckerberg’s Vision Versus Apple’s Approach

Despite the MCMC’s repeated requests for Meta to address the issue, the tech giant is said to have failed to take sufficient action to manage these ‘undesirable’ contents. This lack of cooperation has led to increasing public concern and scrutiny. Consequently, the MCMC feels it has no choice but to take definitive steps or legal action against Meta to ensure people’s security and protection in the digital sphere. 

This recent action from Malaysia reflects a broader global issue of governments grappling with how to handle and regulate the ever-increasing influence of social media on society. Tech giants such as Meta, Google’s YouTube, and TikTok often face regulatory scrutiny over the content posted on their platforms. Many governments, particularly in Southeast Asia, frequently request that controversial content be taken down. 

In 2020, Vietnam threatened to shut down Facebook if it did not bow to government pressure to censor local political content on its platform. Similarly, in Indonesia, Facebook was compelled in 2019 to remove hundreds of local accounts, pages, and groups linked to a fake news syndicate. 

However, it remains to be seen how the legal conflict between Malaysia and Meta will unfold, and what implications this might have on freedom of expression, digital rights, and global tech regulations. 

The post Cyber Accountability Showdown: Malaysia Targets Meta Over ‘Undesirable’ Content appeared first on Marketing In Asia.

The bride’s younger sister, Mary Golez, documented the spectacle, sharing exclusive photos and video footage on social media. According to Golez, the couple, JM Tiongco and Abbie Caram, dreamt of replicating the memorable wedding scene of Colin Khoo and Araminta Lee from the Hollywood hit.

Staying true to their cinematic inspiration, Tiongco and Caram threw their reception amidst the ethereal Supertree Grove of Gardens by the Bay. The reception featured a floral aisle with a striking palette of red, orange, and purple, flanked by a red carpet and an art deco backdrop, all reminiscent of the movie.

Also read: Singapore’s Retail Landscape Revolutionizes with Omnichannel Shopping Experience

Guests, amidst the mesmerizing Supertrees, savored a candlelit dinner complemented by a line-up of live performances including lion dance, ribbon dance, and jazz music. A live artist was present to immortalize the grandeur on canvas.

This extraordinary event drew around 150 guests from Australia, the Philippines, and the United States. Dressed in their best attires, men were seen in “barong tagalog”, the traditional Filipino attire, and women exuded elegance in vibrant formal dresses. The bride stunned in a Vera Wang creation, while the groom looked dapper in a suit by Filipino designer AJ Javier.

After eight months of meticulous planning in collaboration with Singapore-based wedding planner, Rosette Designs & Co, the couple saw their extravagant dream come to life.

When asked about the total cost, Golez revealed that the wedding expenditure was in the “eight figures” in Philippine peso, translating to hundreds of thousands in Singapore dollars. Their choice of a Crazy Rich Asians themed wedding was due to its relatability to their family traditions, Golez revealed, describing the movie as a family “comfort movie”.

Golez’s TikTok coverage of the wedding has amassed over 747,000 views and 117,100 likes, with users admiring the lavish event and dubbing it their “dream” wedding. However, some users voiced their concern about the outdoor wedding considering Singapore’s humid weather. Despite the potential discomfort, Golez confirmed that it was all worth it.

This news is based on the Malay Mail article.

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Adding an interesting twist to this year’s results was the correlation between Tokyo and the restaurant awarded the top spot – Central, based in Lima, Peru. In an endeavor to extend Central’s global influence beyond Peru, Chef Virgilio Martínez inaugurated its sister establishment, Maz, in Tokyo. The new establishment marries the traditional culinary arts of Peru and Japan, marking a seamless integration of different food cultures. 

Tokyo’s Den, celebrated for its modern interpretation of the kaiseki cuisine, secured a commendable position at No. 21. This modern Japanese eatery in Jingumae has consistently featured in the World’s 50 Best Restaurants list, further amplifying its reputation as a major player in the international culinary scene. 

Also Read: Serving Connection on a Plate: Are Asia’s Communal Dining Trends Solving the Loneliness Crisis or Masking It?

Meanwhile, the French-Japanese fusion restaurant, Florilège, climbed up the ladder to No. 27, improving from its 30th position last year. The restaurant, located in Jingumae, plans a temporary halt in operations to facilitate relocation and renewal. The last service is scheduled for next month on July 20. This strategic pause is expected to create a wave of anticipation among global gourmets, eager to see the innovative offerings that chef-owner Hiroyasu Kawate will present post-renovation. 

The third representative from Tokyo, Sézanne, proudly claimed the No. 37 spot, reaffirming Tokyo’s significant culinary influence. The supplementary list, featuring 50 additional remarkable restaurants beyond the top 50, included three Japanese establishments. Tokyo’s Narisawa and Sazenka stood at No. 51 and 73, respectively, while Osaka’s La Cime claimed the 60th spot. 

These laudable rankings are the culmination of a robust voting process involving more than a thousand judges, reflecting on votes cast the previous year alongside a fresh round of evaluations conducted this year. This year, judges were tasked with assessing restaurants within their respective regions only, adding a layer of regional expertise to the selection process. 

The World’s 50 Best Restaurants list provides an annual snapshot of the best culinary destinations across the globe. The inclusion of three Tokyo-based establishments underscores the city’s growing reputation as a global food capital. For more details on the complete 2023 list, refer to the official website. 

Please note that the information in this article is based on the report from the Timeout website. 

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