NEWS | Industry Updates
overseas markets such as Australia and Indonesia. They have recently initiated operations in Malaysia. In Singapore, SmartRx, a developer of vending machine systems, introduced a prescription drug vending machine in March. The model involves customers receiving remote medical consultations in a small room set up next to the vending machine, and they can purchase prescription drugs on the spot. Malaysia has also witnessed the
introduction of vending machines selling nutritional supplements and vitamins. YesHealth, the operating company, revealed that they have deployed over 30 machines since March 2022 and aim to set up more than 100 machines in the near future. Data from FIS, a US financial services
Smart vending machines pioneering global development in the Southeast Asia region
Against the backdrop of the retail industry exploring new sales formats such as unmanned stores and integration with e-commerce, smart vending machines in Southeast Asia have emerged as leaders worldwide. This is attributed not only to the earlier popularity of smartphone payments compared to other countries but also to the demand for contactless shopping due
to the COVID-19 pandemic. The surge in labour costs has also provided favourable conditions for unmanned sales, positioning Asia at the forefront of retail innovation. Forth, a Thai electronics manufacturer
operating TAOBIN, plans to separate its vending machine business and aims to apply for an initial public offering (IPO). The financing amount is yet to be determined, and the company aims to expand into
giant, indicates that 44% of payments in stores in the Asia-Pacific region are made through mobile payments, surpassing North America and Europe. To better meet the market demand
and promote the development of the industry, VEND ASEAN 2024 will build a comprehensive procurement exchange platform for the retail chain, giving full play to the varieties of vending and retail solutions.
Asean (Bangkok) Vending Machine & Self-service Facilities Expo (VEND ASEAN 2024) 3-5 SEP. 2024 Impact Exhibition Center, Bangkok,Thailand
£21.25m increase to Tower Leasing’s funding facility agreed
The British Business Bank has agreed a £21.25m increase of its existing ENABLE Funding facility with Bracknell-based Tower Leasing. The original £25.5m facility was agreed in December 2017,
which allowed Tower Leasing to provide additional asset finance to smaller businesses looking to acquire business critical assets to boost their growth. This new facility size of £46.75m will allow Tower Leasing to
support a strong origination pipeline built upon long-standing relationships with equipment vendors/resellers and customers, continuing to provide asset finance to UK smaller businesses. Tower Leasing was established in 1989 and provides or arranges
asset finance primarily for business-critical soft assets to smaller businesses in the UK, either by financing them using its own balance sheet or by brokering to traditional finance providers. Tower specialises in finance leases for the acquisition of business and office equipment, IT loans and business loans to UK smaller businesses. Launched in 2014, the ENABLE Funding programme supports the British Business Bank’s key objective to drive sustainable growth and prosperity across the UK by supporting access to finance for smaller businesses. Providers of finance to smaller businesses often lack the scale required to access the capital markets – a key source of funding for lending institutions – in a cost-efficient manner.
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vendinginternational-online.com The ENABLE Funding programme warehouses newly originated
finance receivables from participating originators, bringing them together into a new structure. Once the structure has sufficient scale, it aims to refinance a portion of its funding on the capital markets, helping smaller finance providers to tap into institutional investors’ funds. Kerry Howells, managing director at Tower Leasing said: “Our
partnership with the British Business Bank through their ENABLE Funding programme has been instrumental in our commitment to providing accessible finance to SMEs across the UK. We are delighted with the approval of this increased facility as it reinforces this commitment, empowering us to expand our support to a wider number of businesses amidst a notably challenging economic landscape.” Reinald de Monchy, managing director, guarantee and wholesale solutions, British Business Bank, said: “We’re very pleased to agree this facility increase with Tower Leasing. Our ENABLE Funding programme is designed to support smaller businesses to scale up and succeed by providing specialised lenders such as Tower Leasing efficient funding to on-lend. This transaction with Tower Leasing also strengthens our wider objective to increase both the amount and diversity of funding available to SMEs from a wide variety of finance providers.”
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