May 19, 2020

7-Eleven acquires majority stake in alcohol delivery firm Tipple

Australia
Sydney
Melbourne
7-Eleven
Galia Ilan
2 min
7-Eleven acquires majority stake in alcohol delivery firm Tipple

The US-based retail firm, 7-Eleven Group, has announced its majority stake acquisition of the Australian alcohol delivery company, Tipple.

Tipple, which was founded in 2015, now delivers to 120 suburbs in Melbourne and Sydney – with plans to expand operations in the coming year.

The firm claims it can deliver beverages within 30 minutes by working with independent, local bottle shops.

“7-Eleven led the way in digital innovation with our world-first Fuel App, and continue to explore how we can best meet the evolving needs of our convenience customers through digital, delivery and in-store services,” commented Angus McKay, CEO of 7-Eleven.

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“Tipple’s business model and platform is well-aligned with these interests, and has grown significantly since starting up less than three years ago.”

“While in time there may be interesting opportunities for the two businesses to explore and work together serving convenience customers, for now this partnership is about bringing our customer insights and marketing expertise to help accelerate the growth and expansion of Tipple as a standalone business.”

“We couldn’t be happier to be preparing for the next phase of Tipple’s growth alongside 7-Eleven,” remarked Ryan Barrington, Founder and CEO of Tipple. 

“Their expertise and capabilities are unparalleled, but it’s our shared ambition to create new and engaging customer experiences on the cutting edge of convenience that excites us most.”

“We’re very excited about the potential for this partnership to transform the landscape of both alcohol and convenience retailing in Australia.”

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Jun 7, 2021

Business Chief Legend: Ho Ching, CEO of Temasek

hoching
legend
singapore
Temasek
3 min
Singaporean Ho Ching created the largest listed defence engineering company in Asia, before leading Singapore’s sovereign wealth fund to global success

Ask Singaporeans who Ho Ching is, and the majority will answer the ‘wife of Prime Minister Lee Hsien Loong’. And that’s certainly true. However, she’s also the CEO of Temasek Holdings, Singapore’s sovereign wealth fund, and one of the world’s largest investment companies.

Well, she is until October 1, 2021, as she recently announced she would be retiring following 16 years as CEO of the investment giant.

Since taking the reins in 2004, two years after joining Temasek as Executive Director, Ho has gradually transformed what was an investment firm wholly owned by Singapore’s Government into an active investor worldwide, splashing out on sectors like life sciences and tech, expanding its physical footprint with 11 offices worldwide (from London to Mumbai to San Francisco) and delivering growth of US$120 billion between 2010-2020.

Described by Temasek chairman Lim Boon Heng as having taken “bold steps to open new pathways in finding the character of the organisations”, Ho is credited with building Temasek’s international portfolio, with China recently surpassing Singapore for the first time.

As global a footprint as Ho may have however, she has her feet firmly planted on Singapore soil and is committed to this tiny city-state where she was not only educated (excluding a year at Stanford) but has remained throughout her long and illustrious career – first as an engineer at the Ministry of Defence in 1976, where she met her husband, and most notably as CEO of Singapore Technologies, where she spent a decade, and where she is credited with repositioning and growing the group into the largest listed defence engineering company in Asia.

It’s little wonder Ho has featured on Forbes’ annual World’s Most Powerful Women list for the past 16 years, in 2007 as the third most powerful woman in business outside the US, and in 2020 at #30 worldwide.

But it’s not all business. Ho has a strong track record in Singapore public service, serving as chairman of the Singapore Institute of Standards and Industrial Research and as deputy chairman of the Economic Development Board; and is a committed philanthropist with a focus on learning difficulties and healthcare.

As the pandemic kicked off, she not only led active investments in technology and life sciences, with German COVID-19 vaccine developer BioNTech among the most recent additions to Temasek’s portfolio, but through the Temasek Foundation – the firm’s philanthropic arm which supports vulnerable groups close to Ho’s heart, handed out hand sanitiser and face masks.

So, you would be forgiven for thinking that at age 68, Ho might simply relax. But in March 2021, just as she announced her retirement from Temasek, Ho joined the Board of Directors of Wellcome Leap, a US-based non-profit organisation that’s dedicated to accelerating innovations in global health. Not ready to put her firmly grounded feet up yet it seems.

 

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