
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
Business Times
16 minutes ago
- Business Times
China's Unitree offers a humanoid robot for under US$6,000
[HANGZHOU] Unitree Robotics is marketing one of the world's first humanoid robots for under US$6,000, drastically reducing the entry price for what's expected to grow into a whole wave of versatile AI machines for the workplace and home. The startup, among the frontrunners in Chinese robotics, on Friday (Jul 25) announced its R1 bot with a starting price of 39,900 yuan (S$7,131). The machine weighs just 25kg and has 26 joints, the company said in a video posted to WeChat. It is equipped with multimodal artificial intelligence that includes voice and image recognition. The four-figure price tag highlights the ambitions of a new generation of startups trying to leapfrog the US in a groundbreaking technology. Unitree rose to prominence in February after CEO Wang Xingxing joined big names like Alibaba Group Holding's Jack Ma and Tencent Holdings' Pony Ma at a widely publicised summit with Chinese President Xi Jinping. The new robot's launch coincides with China's biggest AI forum, set to kick off this weekend with star founders, Beijing officials and AI-hungry venture investors converging in Shanghai. The World Artificial Intelligence Conference will bring together many of the key figures expected to drive China's efforts around AI, which is finding a physical expression in the rapid development of more humanoid robots. After decades of dominance by American companies like Boston Dynamics, Chinese companies are pushing ahead with humanoids for factories, households and even military use. Pricing is crucial to their proliferation. Unitree's older G1 robot, which found a home in research labs and schools, was priced at US$16,000. A more advanced and larger H1 model goes for US$90,000-plus. Rival UBTech Robotics said recently that it planned a US$20,000 humanoid robot that can serve as a household companion this year, seeking to expand beyond factories. If it works as advertised, Unitree's new robot would mark a milestone for the robotics industry, particularly when it comes to complex humanoids. Morgan Stanley Research estimates that the cost of the most-sophisticated humanoid in 2024 was around US$200,000. BLOOMBERG
Business Times
an hour ago
- Business Times
VW cuts outlook after US tariffs added 1.3 billion euros in costs
[BERLIN] Volkswagen lowered its financial outlook for the year, with the escalating cost of President Donald Trump's tariffs weighing on earnings at the Audi and Porsche brands. The automaker now sees an operating return on sales as low as 4 per cent, from at least 5.5 per cent previously, after the US duties added 1.3 billion euros (S$1.95 billion) in costs during the first half. Volkswagen also cited internal restructuring expenses and greater sales of lower-margin electric vehicles for the forecast change. 'We cannot assume that the tariff situation is only temporary,' chief executive officer Oliver Blume said on Friday (Jul 25) on a call, noting that Trump's current levies would add several billion euros in costs this year. 'We are counting on the European Commission and the US government to reach a balanced outcome on the tariff issue.' Europe's largest carmaker is under pressure to cut costs and improve its products to deal with crises in three key markets. Trump's levies are eating into sales and earnings for import-dependent Audi and Porsche, while muted demand and high production costs weigh on profits in Europe. Volkswagen also is losing market share in China, where consumers increasingly opt for local brands. Volkswagen now sees flat revenue for the year, from 5 per cent growth previously, and also reduced its outlook for free cash flow. The lower end of its forecast assumes the 27.5 per cent US tariffs will stick in the second half, while the upper end foresees the levies being reduced to 10 per cent. 'We need a good compromise,' chief financial officer Arno Antlitz said in an interview with Bloomberg Television. 'A solution that fits both the needs of the American administration, but also European automakers.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Volkswagen shares declined as much as 3 per cent in Frankfurt. The stock is still up around 6 per cent this year. The German manufacturer isn't alone in facing challenges: Some of its peers are dealing with tumult in top management, with Stellantis NV having recently named a new chief executive officer and Renault SA seeking a permanent CEO. Volkswagen is counting on partnerships with Rivian Automotive in the US and China's Xpeng to bolster its products, though new models from those efforts won't be available until next year. The challenges in China, where brands led by BYD are locked in a fierce EV price war, continue to hurt Volkswagen's profits. The operating result from its operations in the biggest car market fell more than a third in the second quarter. Volkswagen expects its joint-venture activities in the country to contribute at best €1 billion this year, down from the 1.7 billion euro proportionate operating result in 2024. The group's trucking business Traton SE late Thursday cut its outlook due to the trade hurdles as well as weak economic growth in Europe and declining orders in Brazil. The unit's adjusted operating result slumped 29 per cent in the second quarter. There were some bright spots. The namesake VW brand has seen EV sales rise in Europe in recent months thanks to rebating and buyers increasingly shunning Tesla over Elon Musk's political activities. The company sees strong order intake momentum continuing through the end of the year in Europe after EV deliveries rose 73 per cent there in the second quarter, driven by robust demand for models including the VW ID.5, the Audi Q4 e-tron and the Skoda Enyaq. BLOOMBERG


CNA
2 hours ago
- CNA
Intel shares slide on quarterly loss, foundry business exit risk
Intel shares fell 5 per cent in premarket trading on Friday after the chipmaker forecast steeper-than-expected quarterly losses and warned of a potential exit from its foundry business despite new CEO Lip-Bu Tan's turnaround plans. Tan on Thursday hinted at departing from ex-CEO Pat Gelsinger's core strategy, warning that without demand-backed investment, Intel risks exiting the foundry business, jeopardizing $100 billion in assets and increasing its reliance on TSMC. As part of its foundry business reform, the company may reserve the advanced 18A manufacturing process for its products and proceed with 14A only if a major external partner commits, Tan stated in a post-conference call. "Intel Foundry is a big story, and currently people are questioning how successful 18A is. A failure in 18A would be a broken story," said Hendi Susanto, portfolio manager at Gabelli Funds. Intel also halted or scrapped several fab projects in the U.S. and Europe, citing financial discipline. Once a leader in American chipmaking, Intel has lost ground after years of strategic missteps, lagging far behind rivals Nvidia and Advanced Micro Devices. The company's stock has gained 12.8 per cent so far this year, while Nvidia and AMD have jumped about 30 per cent and 34 per cent, respectively. Since taking the helm in March, Tan has divested businesses, laid off employees and redirected resources as part of his strategic reset to revive the embattled chipmaker. "There are no more blank checks," Tan wrote in a memo to employees on Thursday, announcing further job cuts as Intel aims to reduce its workforce by 22 per cent to 75,000 by year-end. "I don't think he's scaling back… I think they're maybe redirecting. I would prefer them to build it out, but only if they have customer commitments," said Ryuta Makino, analyst at Gabelli Funds, who's also an Intel shareholder.