Author Topic: covidearners  (Read 1489 times)

Offline thaiga

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covidearners
« on: April 22, 2020, 02:22:20 PM »
netflix doubles its signups

as people stay at home,  its a wonder netflix doubles its signups. as quarantined audiences have to turn to something to stop the boredom. The world’s largest streaming service gained 15.8 million paying customers from January through March, bringing its global total to 182.9 million. Netflix had predicted it would add 7 million during the period.

so some can benefit in coronavirus times, maybe just a short run, still good to see some earning.

Netflix true-crime documentary “Tiger King,” about a colorful Oklahoma zookeeper, became a cultural sensation. It also released reality show “Love is Blind,” and a new season of Spanish-language thriller “Money Heist.” Tiger King: Murder, Mayhem and Madness | Official Trailer | Netflix

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Re: covidearners - a blessing in disguise
« Reply #1 on: April 23, 2020, 01:31:08 PM »
Mr Samarn said the Covid-19 outbreak may be bad news for his customers, but for him, it is a blessing in disguise

Mobile vendors enjoy roaring trade
In the early morning hours, Samarn Supo heads to the Talaad Thai market in Pathum Thani province to stock up on trade supplies.


A shopkeeper works in the back of a pickup truck converted into a ‘phum phuang’ mobile grocery stall with a sign urging customers to wear masks and keep a distance of at least 1.5 metres from the vehicle. Stalls on wheels are credited with ensuring food security for people staying at home amid the Covid-19 pandemic.  King-oua Laohong

Mr Samarn, 62, is one of 500 city vendors selling groceries from the back of a pickup who sources his goods from the country’s biggest wholesale market.

He drives a converted pickup truck and sells in housing estates and other crowded communities.

Now as the Covid-19 crisis confines more people to their homes to avoid risks attributed to the virus, fewer consumers are making their usual trips to supermarkets.

Demand for grocery home delivery services has increased and grocery truck vendors have answered the call to drive produce, meat and products to customers.

full article bangkokpost.com
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Digital video game spending hits record high under virus lockdown
Spending on digital video games hit a record high $10 billion in March as people stuck at home under coronavirus lockdowns turned to gaming, market tracker SuperData reported on Thursday.

Money spent on major console games leapt to $1.5 billion in March from $883 million in February, while spending on games played on high-performance personal computers climbed 56 percent to $567 million in the same comparison.

Console and PC games tend to be popular in Europe and North America where restrictions on going out were ramped up in March due to the pandemic.

"Individuals are turning to games as a reliable entertainment option during the COVID-19 crisis and are using online multiplayer to keep in touch with others," SuperData said in a blog post.

Overall revenue from digital video games for the month was up 11 percent year-on-year, according to the industry tracker.

Nintendo sold five million copies of its family friendly "Animal Crossing: New Horizons" in March, setting a sales record for the most units of a digital console game sold in a single month, SuperData said.

The closing of real-world stores due to the pandemic was cited as a factor in gamers purchasing more titles as digital downloads.

Spending rose 15 percent on mobile games, a lot of them played on smartphones, reaching $5.7 billion in March, SuperData reported.

Among other leading titles, "Pokemon Go" saw revenue for the mobile game grow 18 percent in March after maker Niantic modified features to make it easier to play without needing to be out and about, according to SuperData.

New-generation Xbox and PlayStation consoles along with games tailored for the hardware are expected to launch by the end of this year.

Microsoft has unveiled a name and look for its new gaming console, the Xbox Series X.

Meanwhile, Sony is readying a powerful PlayStation 5 for market.

Consoles face a potential threat from the advent of cloud gaming, however.

Google early this month made its Stadia online video game service free to provide an escape for those hunkered down at home because of the coronavirus pandemic.

Launched late last year, Stadia is crafted to let people access console-quality games as easily as they do email on an array of internet-linked devices.

"Keeping social distance is vital, but staying home for long periods can be difficult and feel isolating," Stadia vide president Phil Harrison said in an online post.

"Video games can be a valuable way to socialize with friends and family when you're stuck at home."

bangkokpost.com
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Re: covidearners - Bt150,000 vegetable carts
« Reply #3 on: April 24, 2020, 05:34:55 PM »
I thought i'd slip this 1 in, the covidearners thread. a probe into the purchase of overpriced vegetable carts, an invoice displayed for Bt150,000 each.  :o maybe its not true, anyone in their right mind would know you'd get tumbled. here's the story nationthailand.com
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Re: covidearners - Bt150,000 vegetable carts
« Reply #4 on: April 26, 2020, 02:18:30 PM »
I thought i'd slip this 1 in, the covidearners thread. a probe into the purchase of overpriced vegetable carts, an invoice displayed for Bt150,000 each.  :o maybe its not true, anyone in their right mind would know you'd get tumbled. here's the story nationthailand.com
its was all a misunderstanding fancy thinking otherwise. Purchase of parts for power station equipment were misunderstood as buying of vegetable carts, a senior official of the Electricity Generating Authority of Thailand (Egat) clarified after questions were raised by an activist.

nationthailand.com
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Headman caught charging B20 for free Covid-free sticker
The worries of covid-19 and one of the reasons it might stick around for a while, where a PYB or a Headman allegedly accused of charging 20 bht for free Covid-free sticker. if true is that 20 bht realy worth putting peoples lives in danger, someone who should know better.

To stem the spread of Covid-19, the provincial communicable disease committee is issuing a small sticker with the words "Buriram Healthy" on it. The sticker is to be pasted on a corner of residents' national identification cards to show that person is free of the virus, for use when entering stores that are re-opening  throughout the province.

Foreign residents report being able to have it placed on their driver's licence - here's the story  bangkokpost.com



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Re: covidearners - Fashion industry turns to face masks
« Reply #6 on: April 27, 2020, 03:23:35 PM »
Fashion industry turns to face masks  full article  bangkokpost.com
Apparel makers are keeping employees engaged with a new opportunity


Greyhound's Smiley Dog face masks.

many Thai fashion designers and apparel manufacturers have turned the face mask into more than a shield. They want to add style to what is fast becoming an everyday accessory.

The face mask has become a new accessory category at a time when sales of traditional fashion apparel are slumping.

Brands selling masks for commercial purposes include apparel manufacturers like Arrow, GQ, Wacoal, Sabina, Cheliron, Itokin, Mc Jean, Guy Laroche, Onono, BSC, Arrow, Portland, Enfant, Davie Jones, J Press and Medtex.

Thai fashion brands Greyhound, Kloset, Leisure Projects, Painkiller Atelier, Baking Soda, Rotsaniyom, Shaka, iCONic, Adhoe Store, Jaspal and Wonder Anatomie are among those jumping on the mask bandwagon.

"Our fashion masks have received a good response from our regular customers, both Thais and foreigners," Mr Dhitibhum said. "We aim to continue selling face masks for good because they have become essential goods for customers."

if Face Masks were made Compulsory

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Re: covidearners - Fashion Industry turns to face masks
« Reply #7 on: April 27, 2020, 07:17:03 PM »
Our living room floor is currently part of the assembly line for Red Cross masks. I wonder if some of these upmarket brands will start producing designer masks? Anyone for a Louis Vuitton diamond encrusted mask? A snip at THB 150,000.
If the old only could, if the young only knew.

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Re: covidearners - Fashion Industry turns to face masks
« Reply #8 on: April 27, 2020, 08:07:57 PM »
Hi TT, A snip at THB 150,000. better value than the veg cart  ;D and a good cause making masks. well done that man. masks have been around a long time.

during the Black Death doctors wore "beak masks" they thought disease was spread by miasma, a noxious form of ‘bad air.’ To battle this imaginary threat, the long beak was packed with sweet smells, such as dried flowers, herbs and spices.

How did a flimsy polymer cup become the most significant health device of the 21st century?

Louis Vuitton Celebrates new store with a limited-edition charm : Luxurylaunches
Louis Vuitton celebrates the opening of its Venezia store and launches a limited-edition carnival mask charm. The charm is created with white and yellow gold, encrusted with diamonds, carnelians, and yellow sapphires
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Re: covidearners - Farmers Hired for Irrigation Works
« Reply #9 on: April 28, 2020, 04:00:13 PM »


Farmers Hired for Irrigation Works

 More than 28,600 farmers nationwide have applied for the employment campaign of the Royal Irrigation Department, which aims to generate income for farmers during the Covid-19 crisis.

Thongplew Kongchan, the department's director-general said that the government approved the budget of 4.4 billion baht to hire 88,838 workers for irrigation projects.

Since the application opened in March, the department has hired 28,623 farmers or about 32 per cent of the plan with the budget of 330 million baht. Most newly-hired workers or 2,255 are in Chiang Mai, followed by Suphan Buri (1,487) and Nakhon Phanom (1,481). 

Agriculture and Cooperatives Minister Chalermchai Sri-on ordered stepping up a public relations campaign to let farmers know about the employment, which can hire more 60,000 farmers.

Laid-off workers and the unemployed, affected by the Covid-19 outbreak can also apply for the job.

The temporary employment for 3-7 months offers the daily wage of 377.85 baht or about 8,000 baht per month for irrigation works such as maintenance, canal dredging, constructions of water sources, water distribution systems, and water retention areas in preparation for the upcoming rainy season.

Labourers, who lost their jobs due to the fallout from the Covid-19 pandemic and returned home in the provinces, can apply for irrigation works available in their localities by contacting the department hotline 1460. (TNA)

mcot.net
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Re: covidearners - social distancing motorbike - video
« Reply #10 on: April 30, 2020, 05:29:56 PM »
Well there's a nice little earner a social distancing motorbike, god help us if they catch on here            video below

An Indian school drop-out has built an electric motorbike with a one-metre gap between the rider and the passenger to drive home the importance of social distancing in the coronavirus pandemic. bangkokpost.com



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Re: covidearners - Muddles into Maxims
« Reply #11 on: May 03, 2020, 10:49:09 AM »
Ratchaburi Community Artist’s Gorgeous Handmade Cloth Masks Made to Order

We all need to wear masks here in Thailand now…so make yours memorable. Order unique handmade Thai art masks here!

Members of our extended Thai family who live in Ratchaburi province are using their at-home time during the current COVID-19 crisis to produce beautiful masks and are selling them cheaply to their friends and connections on Facebook. more designs here muddlesintomaxims.com




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Bangkok’s millionaires’ club enjoys lockdown luxury



(AFP) – Gourmet take-out delivered by a butler in a black sedan — Thailand’s super-rich have not forgone luxury during a pandemic which has locked the country down, crushed the economy and left millions unemployed.

Thailand is one of the most unequal nations in the world and the chasm between rich and poor is widening as the coronavirus eviscerates jobs, leaving 22 million registering for a government cash hand-out.

Hundreds line up daily for food donations across Bangkok, a grim sign of an economic contraction forecast at more than six percent this year — the worst since the Asian financial crisis in 1997.

For rich Bangkokians the pandemic has brought the inconvenience of restricted movement — with an overnight curfew still in place despite some businesses reopening — but no end to the lifestyle of plenty.

Concierge company the Silver Voyage Club has retooled its services to meet the cravings of the elite, delivering high-end meals from the top-tier restaurants.

“Our top clients are… high-net-worth individuals who are VIP from the banks,” said founder Jakkapun Rattanapet.

Concierge services kick in as part of a rewards programme when bank account holders have “at least US$1 million”, he explained.

His company launched White Glove Delivery after their concierge business took a nose dive as global business travel staggered to a halt.

Wagyu beef, seafood and dim sum are on offer from 20 restaurants, some housed in luxury hotels or listed on the Michelin Guide.

Clients include corporate diners and celebrities, their meals delivered in carefully packaged boxes to their housekeepers in upscale Bangkok neighbourhoods or to company headquarters.

A butler — wearing white gloves — can also come along to set the table and present the food.

As part of the fight against COVID-19, White Glove also donates 1,000 meals a day to frontline workers in hospitals, Jakkapun said.

Thailand has 27 billionaires, according to Forbes, with the Chearavanont family who head agro-industrial conglomerate CP Group topping the list worth an estimated $27.3 billion.

They pledged US$29 million to the government last month the same day premier Prayut Chan-O-Cha called for the country’s super-rich to dig deep to help stave off economic ruin.

Restrictions on Bangkok’s restaurants were eased Sunday allowing customers to eat-in with social distancing.

But with alcohol off the menu, many food businesses are still relying on delivery for an income.

Dalian, a Chinese restaurant in downtown Bangkok, makes 3,000 baht a day (US$90), an 80 percent drop from before the pandemic, said manager Jay, who declined to give a last name.

The restaurant is turning to delivery apps to reach customers who are mainly still staying at home, despite their high commission of around 30 percent.

“(The commission) is quite a lot, but we don’t have another way to go,” he told AFP.

breitbart.com
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Re: covidearners - Inthanin grows online sales amid Covid-19 crisis
« Reply #13 on: May 09, 2020, 08:27:44 PM »
nice to see some winners coming out of all the bad stories we hear of everyday - this one suprised me as Online sales of Inthanin Coffee increased by over 60 per cent in April amid the Covid-19 crisis. they cleverly promoted online sales through the applications Grab and Get.
they have 600 branches in Thailand. looking on the up n up In 2021, the number of branches would touch 1,000, the company said. presentation full marks.

Inthanin grows online sales amid Covid-19 crisis

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Re: covidearners - Thailand’s instant noodle exports soar
« Reply #14 on: May 13, 2020, 12:23:13 AM »
well it is cheap & people are not exactly full a cash at the moment - good to hear some are making a profit

Thailand’s instant noodle exports soars thanks to COVID-19

The exports of instant noodles soared in the first quarter of this year, especially in Southeast Asia, thanks to the coronavirus disease 2019 (COVID-19) pandemic, according to the Department of Trade Negotiations.

Auramon Supthaweethum, director-general of the department, said the pandemic caused people to stay home and thus increasingly demand dried and instant food that could be stored for a long period.

Instant noodles were among the products that met present demand because their preparation was quick, their prices were cheap, their flavors were numerous and they were generally available and could be kept for a long time, she said.

Ms Auramon said Thailand’s instant noodle exports grew by 11% year-on-year in the first quarter of this year and their export value amounted to US$57.8 million.

Southeast Asia was the biggest market consuming 54.8% of all the exports. Thailand exported instant noodles worth US$31.7 million to Southeast Asian nations during the period. The value increased by 27.3% year-on-year. Cambodia was the biggest Southeast Asian market, consuming half the exports to the region, followed by Myanmar, Laos and Vietnam.

The second biggest market was the Netherlands that bought 9.2% of all Thai instant noodle exports, followed by the United States (6.6%), Australia (5.1%) and France (3.1%).

Last year Thailand was the third biggest exporter of processed noodles following China and South Korea.

Ms Auramon said that Southeast Asia was an important market of instant noodles and deserved serious consideration because its population was huge and people shared common favorite flavours of foods.

According to her, Indonesia, Vietnam, the Philippines and Malaysia were among the top 15 countries in terms of instant noodle consumption. In 2019 Thailand’s instant noodle exports to Southeast Asian nations were valued at US$119.35 million, growing by 31% from 2018.

pattayamail.com
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Re: covidearners - got your jammies on
« Reply #15 on: May 16, 2020, 12:10:36 AM »
More pajamas, please: Online comfort shopping sales spike

Gone are the days when a single pair of pajamas would suffice. Now we need work pajamas, lounging pajamas, sleeping pajamas - or so sharp increases in online shopping for comfort items would suggest.

As the pandemic continues to keep most Americans at home more often than not, online sales are soaring, according to the Adobe Digital Economy Index, which studies digital consumers.

Online daily sales increased an average 49% through mid April, compared with early March, thanks in large part to stay-at-home orders prompted by the coronavirus pandemic. Grocery sales spiked 110% in online daily sales as more people tried to avoid long lines and crowds at stores.

Meanwhile, Adobe said that pajama sales soared 143% in April compared to March, while sales of pants dropped 13% and bra sales took a 12% hit.

As shelter-in-place orders took effect across the U.S. in March, major retailers shut their doors and consumers had to line up to buy groceries. That sent a shock wave through the U.S. economy, prompting once strong giants such as Macy's to shut its stores and furlough most of 125,000 employees. Fellow retailer Nieman Marcus filed for bankruptcy after closing its 43 U.S. stores.

But consumers shopping from home has been a boon for others. Amazon reported its revenue was up 26% for the first quarter of the year, and it hired 175,000 workers. And online grocery delivery services have become a hot commodity across the country, with people reporting days-long waits to get a slot. On-demand delivery service Instacart announced in March it planned to hire 300,000 more shoppers to keep up with customer orders.

"We're seeing an adaptation of buying, of people moving away from just panic buying toilet paper and PPE," said Vivek Pandya, an analyst at Adobe Digital Insights.

Alyssa Jopling, a student at Bloomsburg University of Pennsylvania, said she has been shopping online much more than usual because she has so much free time.

"I think the best question is, what didn't I buy online?" she said. "Because I have literally bought anything."

She spent $300 on new clothes and also bought about 20 candles, though now she isn't sure why she wanted quite so many.

People are also buying more books and audio equipment, such as speakers, microphones and the multitudes of connector cables that keep our work-from-home lives up and running.

But electronics are also starting to get slightly more expensive for the first time in years, Adobe finds.

"It's unlikely that consumers will be able to continue to experience favorable pricing online, for electronics, as it has for many years," the report noted. Part of that increase may come from supply chain hang-ups as manufacturing comes back online after the pandemic through a wrench in its works.

Overall, the spike in online sales is an expected effect of the "offline economy being absorbed into the online one," Pandya said. Even stores where people might usually shop in person may be getting some benefit - the Adobe study noted that sales of people ordering online and picking items up in person have spiked 208% from April 1 to 20 compared with last year.

nationthailand.com
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Re: covidearners - Food delivery
« Reply #16 on: June 10, 2020, 10:52:58 AM »
New food delivery apps seeking a bite


Food delivery bikes of GrabFood, Line Man and Foodpanda line up in front of a mall in the Ratchaprasong-Siam area. (Photo by Apichart Jinakul)

Competition in food delivery apps is expected to intensify as a series of newcomers jump into the 35-billion-baht market, with some aiming to leverage customer insights for their other businesses.

GrabFood, Get, Line Man and Foodpanda are the major food ordering apps in the Thai market. More competitors have entered the segment, including Siam Commercial Bank (SCB), which unveiled food delivery platform Robinhood on Monday.

Robinhood is waiving the gross profit (GP) fees collected from food merchants as part of its strategy to draw eateries and customers onto the platform.

"We expect to see the food ordering business getting intense in the second half as newcomers force existing large players to adjust their strategies to protect their market share," Anantaporn Lapsakkarn, senior researcher at Kasikorn Research Center (K-Research), told the Bangkok Post.

K-Research revised its food delivery market projection to growth of 19-21% from 35 billion baht last year. Previously the centre expected the market to grow by 17% this year.

Mr Anantaporn said that although the food ordering business is still burning cash with promotions and low delivery fees to draw customers, players can leverage customer data for other businesses, including providing loans.

"Within one year, those who cannot afford to keep burning cash may disappear," Mr Anantaporn said. "Within 3-5 years, the players who can survive are those with deep pockets."

In the short run, the players with low delivery fees providing a variety of food choices will be able to survive. Small operators may have to focus on specific food types, Mr Anantaporn said.

Weeradej Panichwisai, a senior research manager at IT research firm IDC Thailand, concurred that the battle for the food ordering market is poised to heat up, similarly to competition in the e-commerce platform segment.

The winners will be the ones with deep pockets, he said, and they will become the dominant players.

In the ride-hailing business, only one or two players will be able to control the market eventually, Mr Weeradej said.

"Food ordering apps have been able to get off the ground due to promotions and higher demand amid the pandemic," he said. "The market will continue to grow in the rainy season."

Sutthikead Chantarachairoj, chief executive of Shippop, a local e-logistics aggregator startup, said demand for food ordering apps is particularly significant in provinces like Chiang Mai and Phuket.

Another food ordering platform, the hiw.asia website, has emerged with the Popman delivery service app.

Kamolprudh Jumbala, chief executive of Skootar, a delivery service provider that partners with the Robinhood app, said the food ordering market has two business models.

One is that operators ask eateries to pay for GP fees and collect low delivery fees from customers. The other is that they do not charge GP fees, but merchants will have to pay extra fees when they want to join a promotion with low delivery fees.

bangkokpost.com
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looking at some prices this article is in the right thread  :-[

List/price of quarantine hotels topped by 5-star wallet-buster
The government has published the list of hotels under the Alternative State Quarantine (ASQ) scheme, which offers travellers to Thailand an alternative to state quarantine facilities.
The Thai Consulate-General in Sydney published the list, along with the price of the 14-day mandatory quarantine stay at each hotel, on its Facebook page on Thursday (June 11).

The hotels, which have been approved by the Public Health Ministry and Defence Ministry, cover a wide price bracket ranging from Bt32,000 to Bt144,000 for the two-week quarantine. The cheapest ASQ hotel on the list is charging about Bt2,300 per night while the most expensive option is more than Bt10,000 per night.

They include:

1. Movenpick Wellness BDMS Resort Hotel, Bt60,300 for 14 days.

2. Qiu Hotel Sukhumvit (79 rooms), Bt32,000 per 14 days.

3. The Idle Residence (64 rooms), Bt50,000 to 60,000 per 14 days

4. Grand Richmond Hotel (66 rooms), Bt55,000 per 14 days

5. Royal Benja (80 rooms), Bt45,000 per 14 days

6. Anantara Siam (8 rooms), Bt144,000 per 14 days

7. Grand Centrepoint Sukhumvit 55 (114 rooms), Bt55,000 to Bt125,000 per 14 days

Thai returnees from Australia are required to inform the Consulate-General if they plan to book an ASQ hotel.

nationthailand.com
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Glove maker stock mania in Malaysia outpaces even Tesla


An employee monitors latex gloves on hand-shaped molds moving along an automated production line at a Top Glove Corp. factory in Setia Alam, Malaysia, on Feb. 18, 2020 Photo: Bloomberg Photo By Samsul Said.

A relatively low-tech stock trade is making Tesla's dizzying rally look like an under-performance.

In Southeast Asia, makers of rubber gloves are attracting more investor fervor than even the electric cars and flame throwers of Elon Musk. Top Glove Corp. is up 428% this year in Kuala Lumpur, the most on the MSCI Asia Pacific Index, while Supermax Corp. has leaped more than 1,200%, compared with Tesla's 259%. That's due to the boom in glove demand thanks to the coronavirus pandemic, aided by a short-selling ban in Malaysia till year-end.

The meteoric rise has been unprecedented by Malaysian standards, with the top three glove makers adding about 109 billion ringgit ($26 billion) in combined market value this year. More than $1 of every $10 invested in the nation's stock market right now is a bet on gloves -- a feat that makes the Southeast Asian nation a play on global hygiene, much like South Korea and Taiwan are for semiconductors. Top Glove resumed its rally Friday even after the U.S. moved to block imports from two of its units.

"The rally in glove makers reminds many of Tesla but the sector's earnings outlook is more certain than that of Tesla," said Ross Cameron, a fund manager at Northcape Capital Ltd., which overseas about $7 billion in assets globally. The short-selling ban has had a minor contribution to the rally while "we expect the sector to report significantly more than 100% earnings growth next year," he said.

Fund managers at Northcape and Samsung Asset Management have increased their bets on the sector this year, saying the shift in glove demand is structural and many market participants are still behind the curve.

Some of the glove makers are planning bonus share issues after this year's eye-popping rally. The odds of some stocks getting more institutional allocation are set to increase as the companies have become big enough to be included in key indexes followed by international investors.

Supermax and Kossan Rubber Industries Bhd. are set to join the MSCI Malaysia Index after a review next month due to the meteoric rise in their stock price, Brian Freitas, an analyst on Smartkarma wrote in a note last week. "The stocks now rank very highly on free float market cap," the note added. Kossan shares have climbed 224% year-to-date.

Still, a faster-than-expected development of a vaccine to treat Covid-19 risks putting the brakes on the spectacular rally in glove makers' shares. The U.S. Customs and Border Patrol has placed a detention order on disposable gloves made by Top Glove. Top Glove said in a statement on Thursday that the issue may be linked to foreign labor and it is reaching out to U.S. Customs to seek to resolve the matter within two weeks.

Fund managers and analysts said the company could still ship its gloves to the U.S. using other units. Also any cancellation of orders would be offset by demand from other countries due to the acute shortage.

The Malaysian Rubber Glove Manufacturers Association expects global glove demand to rise 20% to 330 billion gloves this year, according to Hong Leong Investment Bank Bhd. analyst Farah Diyana Kamaludin, who attended its briefing last week.

For now, the order books have swelled, glove prices have skyrocketed and companies are aggressively expanding their capacity to meet orders.

middletownpress.com
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Re: covidearners - Online retail sales to hit $2.5 trillion in Asia by 2024
« Reply #19 on: September 19, 2020, 10:58:09 AM »
Online retail sales to hit $2.5 trillion in Asia by 2024
The latest Reliance takeover of Future Group’s retail business is a major consolidation of organised grocery retail.

Riding on the surge in grocery demand in the Covid-19 times, online retail sales in Asia will grow from $1.5 trillion in 2019 to $2.5 trillion in 2024, with a compound annual growth rate (CAGR) of 11.3 per cent, a new Forrester report said on Friday.

Due to the pandemic, adoption of online grocery is getting a boost, with an expected CAGR growth of 30 per cent during the forecast period and online penetration doubling from 5.1 per cent in 2020 to 10.6 per cent in 2024.

“Grocery is the largest retail category, accounting for 35 per cent of total retail sales in 2019 but just 6 per cent of online retail sales. This makes it an important category for retailers and one that is going to drive future growth of online retail sales,” said Satish Meena, Senior Forecast Analyst with the global market research firm Forrester.

“Driven by the uptick in online grocery adoption due to COVID-19, online retail sales will grow at a CAGR of 30 per cent from 2019 to 2024 and reach $359 billion,” Meena added.

India is witnessing a surge in demand for online grocery.

The latest Reliance takeover of Future Group’s retail business is a major consolidation of organised grocery retail.

In terms of grocery retail, the revenue of Reliance Retail in FY20 was Rs 346 billion and that of Future Retail’s annualised revenue of FY20 was Rs 100 billion.

Earlier reports said that Reliance’s partnership with Facebook could result in the company becoming a market leader in the online grocery space.

According to Meena, grocery will also be the category where most marketplaces’ investment will be made in the next five years.

Online retail sales in Asia Pacific will get a boost from new buyers due to Covid-19, but at the same time, consumer spending will take a hit due to the slowdown of economies.

China will remain the largest market, reaching $2 trillion by 2024 and accounting for 50 per cent of global online retail sales in 2020.

In contrast to Europe and the US, the smartphone is the preferred device for online buyers in Asia Pacific countries.

“In 2020, 75.8 per cent of online retail sales will occur on smartphones, and we expect online retail sales by smartphone to grow at a CAGR of 13.6 per cent to reach $2 trillion by 2024,” Meena said

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