Latest news with #RM302
Malaysian Reserve
21-05-2025
- Business
- Malaysian Reserve
Tourists boost sales at Japan's Don Quijote stores
by CAROLINE GARDIN & ATISH PATEL BUSINESS is booming at Japanese discount chain Don Quijote, which sells everything from nostril-hair wax to compact gadgets and colourful party costumes, thanks to its cult status among tourists but also inflation at home. At a large Don Quijote store in Tokyo's bustling Shibuya district, hundreds of tourists rush to fill their baskets with snacks and souvenirs from its heaving narrow aisles. 'I was pretty overwhelmed at first, just because there's so many options, everything's in a different language,' 27-year-old Garett Bryan from the US told AFP. But 'I feel like I bought a lot and it was only like US$70 (RM302)' including 'a coffee cup for my mom, a fan, some Godzilla chopsticks, just a couple toys'. The chaotic cut-price shops nicknamed 'Donki' were founded in the 1980s by Takao Yasuda, who named them after his business inspiration: The idealistic protagonist of the classic Spanish novel, Don Quixote. He wanted to shake up Japan's staid retail industry with new tactics including late-night opening hours as well as more varied prices and product lines. Now a record influx of visitors to Japan, fuelled by a weak yen, is boosting sales nationwide. Revenues at Don Quijote in Japan are 'around 1.7 higher than before the pandemic', said Motoki Hata, a manager at the retailer. Last year, its parent firm Pan Pacific International Holdings (PPIH) saw revenue rise around 12% year-on-year (YoY) for its discount chains including Donki, while tax-free sales beat internal forecasts. Shopping at Don Quijote is like a 'treasure hunt' — a fun experience that foreign visitors love, Hata told AFP. 'Customers end up buying something different than what they came in for,' he said beside rows of cherry-blossom flavour KitKats, a popular exclusive product. 'Jungle'-like Don Quijote and its sister brands have 501 stores in Japan, where 24 new ones opened during the past financial year. PPIH Group also runs 110 stores abroad, in the US and across Asia from Taiwan to Thailand. California is one place being targeted by the company for expansion, according to analyst Paul Kraft, founder of Tokyo-based consultancy firm JapanIQ. But that plan could be complicated by US President Donald Trump's trade tariffs — including levies of 24% on Japan, which have been paused until July. Even so, 'I wouldn't bet against them, even in this entire high-tariff environment', Kraft said. 'Nobody adjusts as fast as Don Quijote in retail in Japan — even faster than convenience stores, because they give so much autonomy to their stores.' They are also 'some of the smartest and most aggressive buyers that I've seen', with consistently 'the best selection of almost anything'. However, in Japan at least, the shopping experience is 'cramped, dark, you know, the buildings might be old' with products seemingly 'hanging from everywhere'. Don Quijote's omnipresent Santa-hat wearing penguin mascot Donpen and its 'Don Don Donki' jingle on repeat just adds to the 'jungle'-like experience. 'It is just almost an assault on the senses,' Kraft said. Inflation Hits Still, Don Quijote 'has grown to be an extremely important retailer in Japan', Kraft said — especially as rising inflation ramps up demand for cheaper products. The country's core inflation rate accelerated to 3.2% in March, with consumers feeling the pinch on electricity bills as well as kitchen staples like cabbage and rice. Household consumption fell 1.1% in 2024, with some people making the trip to Don Quijote to save. 'It's less expensive than other shops, and they also have famous brands,' said a Tokyo resident who shops at the store twice a week and gave her surname as Kuroki. Shoji Raku, 20, told AFP she shops at Donki for 'shampoo, electronics and everything that you don't find elsewhere'. Tourist sales remain a key focus for the chain, which plans to open two new stores targeted at visitors in Japan next year, centred on duty-free products. But one Donki customer, Bruno Bosi from Brazil, said shoppers should tread with caution. 'It is a store for you to buy as much as you want — but I think you need to ask yourself if you need it,' he said. — AFP This article first appeared in The Malaysian Reserve weekly print edition
Malay Mail
01-05-2025
- Business
- Malay Mail
Microsoft rakes in US$70.1b on cloud, AI boom; shares surge after strong quarter
SAN FRANCISCO, May 1 — Technology giant Microsoft posted robust quarterly results on Wednesday, with revenue rising 13 per cent to US$70.1 billion (RM302 billion), powered by a strong performance in its cloud computing and artificial intelligence businesses. The results, which solidly beat analyst expectations, drove Microsoft's share price more than eight per cent higher in after-hours trading. The Redmond, Washington-based company also allayed worries that it would suffer due to the high tariff policies of President Donald Trump's administration, offering a good outlook for the ongoing quarter. Microsoft has remained more discreet in its support for Trump than its rivals, many of which contributed money to the president's inauguration fund and announced major investments in the United States. The company, which celebrates its 50th anniversary this year, saw net profits climb 18 per cent to US$25.8 billion, compared to the same period last year. Crucially, Microsoft Cloud revenue reached US$42.4 billion, growing 20 per cent year-over-year, which Chief Financial Officer Amy Hood attributed to 'continued demand for our differentiated offerings.' Microsoft was one of the first tech giants to double down on artificial intelligence when the launch of ChatGPT in 2022 rocked the tech industry. Like its rivals, it has spent massively on building the infrastructure necessary to power the AI revolution, with analysts keeping a close eye on the return on investment. The company in January said it was on track to pump about US$80 billion into capital and infrastructure this fiscal year. But CEO Satya Nadella said that even if 'I feel very, very good about the pace' of investments, the company was always tweaking its spending. He added that finding enough power sources for its AI data center needs was a priority. Microsoft this quarter said its relationship with ChatGPT creator OpenAI was evolving and that it would no longer be the exclusive provider of the key startup's colossal computing needs. It has been a major backer of OpenAI, mainly by providing the heavy computing capacity required to build AI models. The company's Intelligent Cloud segment, a key part of Microsoft's business, showed particularly strong growth with revenue of US$26.8 billion, up 21 per cent. Its Azure and other cloud services revenue surged 33 per cent, reflecting the increasing adoption of Microsoft's cloud platforms. The Productivity and Business Processes division, which includes Office 365 and LinkedIn, generated US$29.9 billion in revenue, a 10 per cent increase. The company said it returned US$9.7 billion to shareholders through dividends and share repurchases during the quarter. 'This was a strong, steady quarter from a company that's matured into its AI moment,' said Jeremy Goldman of Emarketer. Despite a few hiccups, 'Microsoft's ability to turn AI enthusiasm into real revenue... sets it apart in a field crowded with promise but short on payoff.' — AFP
The Sun
26-04-2025
- Politics
- The Sun
39 KRTs in Sarawak selected as progressive KRTs
KUCHING: A total of 39 Neighbourhood Watch Areas (KRT) have been selected as Progressive KRTs in Sarawak this year, said National Unity Minister Datuk Seri Aaron Ago Dagang, today. He said that each Progressive KRT is eligible to apply for an allocation of up to RM100,000 annually to implement programmes across eight focus areas, outlined by the Department of National Unity and Integration (JPNIN). 'I urge all KRTs in Sarawak to remain active, and I hope to see every KRT in the state eventually upgraded to Progressive KRT status,' he said. 'With the allocation of RM20 million in grants to the Ministry of National Unity (KPN) for Progressive KRTs, we are optimistic that more KRTs will be able to participate in a broader range of activities. He said this at today's Aidilfitri celebration, organised by the Sarawak JPNIN, at the Penview Convention Centre. The celebration was attended by members of KRTs, the Voluntary Patrol Scheme, Community Mediators, Taska and Tabika Perpaduan staff, Uniti Squad members, and representatives from non-governmental organisations (NGOs). According to Aaron, Progressive KRTs will concentrate on eight key areas: the livelihood economy, community resilience and security, leadership, community well-being, lifelong learning, the environment, cultural heritage, and creativity. Aaron said that there are currently 8,554 KRTs nationwide, with 1,092 of them located in Sarawak. Previously, the media reported that JPNIN was targeting 300 KRTs to be modernised and upgraded as Progressive KRTs. Meanwhile, the National Unity Ministry, in a statement, announced an allocation of RM302,775 to five Tabika Perpaduan in Sarawak to carry out improvement works which can benefit students. The kindergartens involved are Tabika Perpaduan RPR Permyjaya Miri; Tabika Perpaduan Ong Tiang Swee, Kuching; Tabika Perpaduan Sungai Plan, Bintulu; Tabika Perpaduan Siol Kandis, Kuching and Tabika Perpaduan Kampung Pahlawan, Limbang.
New Straits Times
21-04-2025
- New Straits Times
Retired accountant scammed of RM302,100 in fake stock investment scheme
MUAR: A retired accountant was left devastated after losing his life savings of RM302,100 to a non-existent stock investment syndicate. The 72-year-old victim is believed to have received a WhatsApp message from an unknown number on March 10, offering him an opportunity to invest in stocks. District police chief Assistant Commissioner Raiz Mukhliz Azman Aziz said that without much thought, the victim was enticed by the offer made by the syndicate. The elderly man was then added to a WhatsApp group related to the investment and was briefed on the potential profits he could gain. "Subsequently, on April 15 and 16, the victim made three transactions into a bank account registered under the name of an investment company. "After transferring the funds, the victim noticed a profit reflected in the application provided to him, based on the capital he had invested. "However, he began to grow suspicious and suspected he had been scammed when he was unable to withdraw his profits," he said in a statement. As a result, Raiz Mukhliz said the victim, who is also a retired accountant, lodged a police report at the Muar District Police Headquarters yesterday for further action. Police have launched an investigation under Section 420 of the Penal Code for cheating. "The public is reminded to remain vigilant and not be easily swayed by offers that seem too good to be true, as such tactics are commonly used by fraud syndicates to deceive victims," he added.
