Malaysia's Zus Coffee to add 6 outlets in Singapore
It has almost 750 outlets in Malaysia - Starbucks has 320.
The American chain was affected by boycotts in Malaysia for its perceived Israel links amid the Gaza conflict.
After surpassing Starbucks in early-2024, the Malaysian coffee shop operator now plans to further expand with 200 new stores in South-east Asia this year, reported Bloomberg.
There will be at least 107 new Zus Coffee outlets in Malaysia, six in Singapore and about 80 in the Philippines, COO Venon Tian told Bloomberg.
There are four existing outlets in Singapore and about 120 in the Philippines.
Zus Coffee will also be introduced to Thailand and Indonesia this year.
Mr Tian attributes the chain's success to the customisation of flavours to suit the local market.
For example, the drinks flavoured with gula Melaka in Malaysia and purple yam in the Philippines.
Zus Coffee in late-2019 started out as a delivery kiosk with an app and thrived during the pandemic.
"Covid accelerated our business model," Mr Tian revealed.
"You've got the convenience store, which sells your coffee at RM5 ($1.49) and below. Then you have premium mass coffee selling at RM11 and above.
"So Zus positioned itself between that price point. It's about how we make quality coffee accessible to most people."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
2 hours ago
- Straits Times
Trump open to Nvidia selling scaled-back Blackwell chip to China
Nvidia may be allowed to ship its Blackwell chips to China if the company can design it to be less advanced. WASHINGTON – US President Donald Trump signalled on Aug 11 that he'd be open to allowing Nvidia Corp to sell a scaled-back version of its most advanced AI chip to China. Mr Trump said he would consider a deal that would allow Nvidia to ship its Blackwell chips to China if the company could design it to be less advanced. 'It's possible I'd make a deal' on a 'somewhat enhanced – in a negative way – Blackwell' processor, he said in a briefing with reporters. 'In other words, take 30 per cent to 50 per cent off of it.' Mr Trump made his remarks on Nvidia's Blackwell chip while confirming that he'd hammered out a separate, unusual deal with Nvidia that will allow the company to sell its less-advanced H20 AI chip to China if it pays 15 per cent of revenue tied to those shipments to the US government. AMD Micro Devices will deliver the same share from MI308 revenues, a person familiar with the situation has said, asking not to be identified discussing internal deliberations. The revenue-sharing agreement for the H20 chip – and the prospect of yet another one for Nvidia's Blackwell product – reflects Mr Trump's consistent effort to engineer a financial payout for America in return for concessions on trade. Such unprecedented arrangements, however, stand to set a precedent for all American companies doing business in the Asian nation and threaten the US government's national security rationale for export controls, experts said. Mr Trump didn't say exactly when he might negotiate a deal with Nvidia Chief Executive Officer Jensen Huang on the Blackwell chip but alluded to a possible meeting soon on the prospect: 'I think he's coming to see me again about that, but that will be a unenhanced version of the big one.' Top stories Swipe. Select. Stay informed. World Trump seizes control of Washington police, deploys National Guard Business Lower-wage retail workers to receive up to 6% pay bump from Sept 1 Singapore Keppel to sell M1's telco business to Simba for $1.43b, says deal expected to benefit consumers Singapore ST Explains: Who owns Simba, the company that is buying M1? Singapore Telco price undercutting expected to subside after sale of M1 to Simba: Analysts Singapore ST Explains: What is Vers and which HDB estates could it be rolled out in? Singapore For Vers to work, compensation should account for varied needs of HDB flat owners: Observers Singapore At least $2m lost in S'pore to govt official impersonation scams involving cryptocurrency in Q1 Nvidia's Blackwell design is at the heart of the most powerful computers that create and run AI software. Those chips are currently too powerful to be sold into China, according to US restrictions. Nvidia and smaller rival AMD have seen their revenues in China slashed by increasingly tight US government restrictions on AI chip exports. While the Trump administration has begun granting permits for some chips to China, those products are older and only equivalent to domestic Chinese offerings, casting doubt on their attractiveness in that market. A newer, better offering might help promote Nvidia's standing with Chinese customers if it can get sign-off from the administration. When the US tightened restrictions in April, Nvidia said it would work on another chip for the China market and would seek permission to export that one. It cautioned that the older Hopper design, the basis of the H20 chip being sent to China only, could no longer be reduced in capabilities. BLOOMBERG
International Business Times
2 hours ago
- International Business Times
Who is Lip-Bu Tan? Top Tech CEO Faces White House Showdown After Trump Calls for His Removal
Intel CEO Lip-Bu Tan plans to visit the White House on Monday, just days after President Donald Trump publicly asked him to resign. The meeting was earlier on Sunday, as reported earlier by the Wall Street Journal, based on what it said were accounts from people familiar with the matter. Reuters was unable to confirm the report, and both Intel itself and the White House declined to offer comment. X According to the WSJ, Tan will also likely detail his professional experience and outline ways Intel could work closely with the U.S. government. He is banking on proving his loyalty to the country as a whole and emphasizing that Intel's manufacturing strength is critical to national security. Trump's call for Tan to step down last week marked an unusual presidential intervention in corporate leadership. Tan was "profoundly conflicted" to the tune of hundreds of investments in Chinese manufacturing and chip companies, many with alleged ties to China's military. Reuters had earlier reported that Tan invested more than $200 million in such firms. Past Roles and Controversies Tan is a Malaysian-born Chinese American. He has served in the semiconductor industry for many years. Before becoming Intel's CEO six months ago, he led Cadence Design Systems from 2008 to 2021. During his tenure at Cadence, the company sold its products to a Chinese military university specializing in nuclear simulation and management. The company pleaded guilty to related U.S. charges in April and agreed to pay more than $140 million as part of a settlement announced last month. The interest from Trump comes at a time when Tan is grappling with the task of turning around Intel's struggling business. However, two investors and a former senior employee of the firm said the recent row could lead to him being distracted from planned cost cuts. Ryuta Makino from Gabelli Funds told the Journal that Trump may pressure Intel to increase its capital spending in line with Apple and Nvidia, even though the company lacks the resources to do so. Scaling Back Ambitions The 2022 CHIPS Act was a boon for Intel under then-CEO Pat Gelsinger, who sought large U.S. chip factory initiatives. But Tan walked back those plans, saying that new plants would only be built when there is demand for them. That decision to slow factory building in Ohio raised more suspicion with Trump, who is a strong backer of expanding domestic manufacturing. Intel followed up Trump's comments with a statement reiterating its investment focus is in line with the "America First" policy, but it did not address the requests for Tan to resign. David Wagner, portfolio manager at Aptus Capital Advisors, slammed the statement as "bland" and said a protracted period of uncertainty could be damaging for the company. Tan's Defense On Thursday, Tan reiterated his loyalty to the U.S., where he has resided for more than 40 years. This country is near and dear to me—I deeply respect the land of opportunity that welcomed my great-grandparents, grandparents, parents, and siblings with open arms. The board is behind my leadership in the direction we're heading, and I love that company also," he said. Tan denied any impropriety, saying he had always acted within the law and the highest standards of ethics. Indeed, U.S. citizens are only prohibited from owning shares in Chinese firms on the Treasury's Military-Industrial Complex List, and there is no evidence that Tan held any such stakes. But Trump's comments have shed light on his record. "While the scrutiny of Corporate America is welcome, it's unfortunate that Intel is a target because it would appear to have slowed their focus on jettisoning unproductive parts and developing winning products," said Brent Wilson, a former Intel executive. The implications of Tan's possible departure are even grimmer, the source told us: "If Tan leaves, it will delay what Intel needs to do quickly."
Straits Times
3 hours ago
- Straits Times
India pushes ahead with US trade talks despite tariff hike to 50%
Sign up now: Get ST's newsletters delivered to your inbox Shipping containers stacked on the KMTC Jebel Ali container ship at Jawaharlal Nehru Port in Navi Mumbai, Maharashtra, India. NEW DELHI/MUMBAI - India hopes trade talks with the US will continue even as the US hiked tariffs on its exports to 50 per cent due to New Delhi's purchase of sanctioned Russian oil, two lawmakers said on Aug 11, citing a briefing to a parliamentary panel on foreign affairs. Last week, President Donald Trump imposed an additional 25 per cent tariff on Indian goods due to Delhi's continued purchase of Russian oil, bringing the total duty on Indian exports to the US to 50 per cent - among the highest of any American trading partner. 'Our relations with the US are multi-dimensional, and should not be seen only through the prism of trade,' one of the lawmakers said, citing the foreign secretary's briefing to the panel. Mr Shashi Tharoor, an opposition Congress party leader, who heads the panel, said trade talks would continue. 'As of now, there is no change in the existing plans for the sixth round,' he said, referring to a scheduled visit of a US trade delegation to New Delhi from Aug 25. Earlier, junior finance minister Pankaj Chaudhary told lawmakers that about 55 per cent of India's merchandise exports to the United States would covered by the new tariff. His estimate factored in the initial 25 per cent levy, he said in a written response to a lawmaker's query. Top stories Swipe. Select. Stay informed. World Trump seizes control of Washington police, deploys National Guard Business Lower-wage retail workers to receive up to 6% pay bump from Sept 1 Singapore Keppel to sell M1's telco business to Simba for $1.43b, says deal expected to benefit consumers Singapore ST Explains: Who owns Simba, the company that is buying M1? Singapore Telco price undercutting expected to subside after sale of M1 to Simba: Analysts Singapore ST Explains: What is Vers and which HDB estates could it be rolled out in? Singapore For Vers to work, compensation should account for varied needs of HDB flat owners: Observers Singapore At least $2m lost in S'pore to govt official impersonation scams involving cryptocurrency in Q1 'The Department of Commerce is engaged with all stakeholders' for their assessment of the situation, Mr Chaudhary added. Goods trade between the United States and India - the world's biggest and fifth-largest economies, respectively - was worth about US$87 billion (S$112 billion) in the last fiscal year, according to Indian government estimates. The panel separately voiced concerns over Pakistani army chief Field Marshal Asim Munir's reported remarks on nuclear threats in South Asia during a visit to the US. 'Nuclear blackmail will not work with India, and no party, or representative disagrees with this view,' Mr Tharoor said, adding the external affairs ministry had condemned the comments. REUTERS
