Waikato Business News January/February 2017

Discover Waitomo
launches smartphone
pay services
11
Discover Waitomo has become the first
New Zealand tourism operator to launch
Alipay and WeChat Pay payment services
at the iconic Waitomo Glowworm Caves.
Alipay and WeChat Pay
technologies allow
international visitors
to purchase using an easy and
efficient mobile wallet functionality
rather than credit card or
cash. Visitors simply scan the
QR code at point of sale with
their smartphone, the payment
will then securely and immediately
be completed.
Both Alipay and WeChat
Pay platforms were successfully
installed at Waitomo
Glowworm Caves recently.
Mobile payment methods
are forecast to dominate
over the traditional wallet in
the coming years, as consumers
continue to look for quick,
convenient and secure ways to
streamline their lives. China is
set to have 195 million people
using their phones as a wallet by
the end of the year, according to
eMarketer.
John Robson, general manager
of Discover Waitomo
says: “The launch of Alipay
and WeChat Pay services at the
Waitomo Glowworm Caves is
part of our ongoing commitment
to the overall customer
experience and seamless
delivery. From the on-hand
customer service available, to
food and beverages served at
the Waitomo Homestead and
Waitomo Glowworm Caves
Visitor Centre, the needs of our
diverse customer base are paramount
to us.”
Both technologies are making
waves around the globe.
WeChat Pay is the payment
service for WeChat, the onestop-shop
social networking
app used by more than 800
million Chinese nationals to
Tourists use their smartphones to
pay at Waikato Glowworm Caves.
play games, make videos, calls
or order food. Since its launch
in 2013, WePay Chat is now
actively used to process more
than 500 million payment transactions
per day in 20 countries.
Alipay, the service controlled
by Alibaba, has been named the
world’s largest mobile payment
company and has more than
450 million daily users. Users
can use both service to pay
for restaurants, travel, entertainment,
utilities and can also
transfer money to other users
automatically in a function.
The smartphone scanning the QR code.
Another world class Gardens Arts Festival planned
The 18th annual Hamilton
Gardens Arts Festival is
shaping up to be another
significant event for the region.
Running from February 17 to
26, the world class Hamilton
Gardens will be bursting with
all things creative across all
arts genres. With a robust
and strategic marketing plan
being rolled out, ticket sales
are already exceeding expectations.
Perennial favourites Trust
Waikato “Sunset Symphony”,
the Waikato Kindergarten
Association’s “Teddy Bears
Picnic”, and the “Mansfield
Garden Party” are returning.
Two new venues have been
added – the just opened and
already exceptionally popular
Jade Dragon Children’s
Theatre, and a Bavarianinspired
Spiegel tent, the
Pacific Crystal Palace.
Once installed, the Palace
will feel like a permanent
ANZ sells UDC Finance
ANZ Bank New Zealand
Ltd has agreed to sell its
asset finance business,
UDC Finance, for NZ$660 million
to HNA Group, a Fortune
Global 500 company focused on
tourism, logistics and financial
services.
ANZ New Zealand CEO
David Hisco said the sale followed
a strategic review and was
in line with ANZ’s strategy to
simplify its business and focus
on its core banking activities.
The purchase price of
NZ$660 million represents a
price-to-book ratio of 1.6 times
net assets of NZ$424 million as
at 30 September 2016.
“UDC Finance is a great business
which is performing well,”
said Mr Hisco. “We’re extremely
proud of what our teams have
achieved over the years providing
specialist asset-based finance
to New Zealand businesses for
plant, vehicles and equipment.”
Mr Hisco said the purchase
of UDC Finance by one of the
world’s largest asset finance and
leasing companies was a significant
vote of confidence in the
venue with a circular wooden
floor, stained glass windows
and carved plinths, and seating
for 300. Events scheduled for
the Palace include Irish musician
“Mundy”; bands “Helter
Skelter” and “Swamp Soul
37 South”; “Perhaps Hope”,
a circus act direct from the
Edinburgh Fringe Festival;
Hamilton Operatic’s tribute
to Rogers & Hammerstein
“Sound of Their Music”; fastpaced
theatrics of “Don Juan”;
Chinese bank joins New Zealand
Bankers’ Association
The New Zealand
Bankers’ Association
has announced that the
Industrial and Commercial Bank
of China (New Zealand) Ltd has
joined the association, bringing
the total number of member
banks to 16.
New Zealand Bankers’
Association chief executive
Karen Scott-Howman says: “We
are delighted to welcome ICBC
New Zealand economy.
“HNA is well placed to invest
in specialist asset finance products
and systems which will
help UDC expand further in the
future,” said Mr Hisco.
HNA doesn’t currently operate
in New Zealand so this sale
will maintain competition in the
asset finance and leasing market
which is good for customers.
HNA intends to preserve UDC’s
operations, offering ongoing
employment to all existing UDC
employees and maintaining
existing customer lending.
Since its founding in 1993,
HNA Group has evolved
from a regional airline based
on Hainan Island into a global
company with over US$90
billion of assets, US$30 billion
in annual revenues and nearly
200,000 employees across
North America, Europe and
Asia. The financial arm of HNA
operates a diverse set of businesses
in equipment leasing,
insurance, and credit services,
including China’s largest nonbank
leasing company, one
of the world's largest aviation
to the Bankers’ Association.
China is one of New Zealand’s
top trading partners. Having
Chinese banks here helps take
that important relationship to
another level. “
ICBC is the first Chinese
bank to gain a licence to operate
in New Zealand. The bank
offers its clients comprehensive
corporate and retail services with
a focus on boosting the bilater-
finance businesses, one of the
world’s largest container leasing
businesses, and Europe’s largest
trailer leasing business.
“UDC’s highly diversified
portfolio offers significant
growth opportunities in
Australasia and supports HNA
Group’s disciplined approach to
expand our core tourism, logistics
and financial services businesses,”
said Adam Tan, Vice
Chairman and CEO of HNA
Group.
“We are excited to welcome
UDC Finance to the HNA
Group family and we look
forward to working with their
experienced management team
as they continue to support the
growth and aspirations of New
Zealand businesses, investors
and consumers.”
The UDC sale is subject
to closing steps and conditions
including engaging with
investors on the replacement
of the Secured Investment program
and regulatory approvals.
Completion is expected late in
the second half of the 2017 calendar
year.
al economic and trade relationship
between New Zealand and
China.
Other New Zealand Bankers’
Association members are ANZ
New Zealand, ASB Bank, Bank
of China, Bank of New Zealand,
Bank of Tokyo-Mitsubishi UFJ,
Citibank, The Co-operative
Bank, Heartland Bank, Hong
Kong and Shanghai Banking
Corporation, JPMorgan Chase
Bank, Kiwibank, Rabobank New
Zealand, SBS Bank, TSB Bank,
and Westpac New Zealand.
and family-friendly shows
“Trash Test Dummies” and “La
Vie Dans Une Marionette”.
In another first for the festival,
a Business Summit will
also be held in the Pacific
Crystal Palace. Starting at
11.30am on Wednesday,
February 22, the theme is “New
Year, New Ideas”. Bernard
Lamusse, director of BDO
Waikato Limited has been a
driving force behind the event.
“The Hamilton Gardens is
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an amazing place that lends
itself to a Business Summit.
Having the infrastructure of
the Arts Festival makes it so
much easier for it to happen,”
says Bernard. Opening with a
convivial luncheon and closing
with the opportunity to attend
“Garden Giggles”, a hilarious
night of comedy, the summit
will be as informative as it is
full of surprises. Bernard goes
on to say the Business Summit
has “new ideas for a new year.
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Business people need to have
the ability to hear outstanding
speakers and spend time with
other business people to rejuvenate
their businesses”.
Given the diversity of programme
and with the addition
of the Business Summit, the
team behind the Hamilton
Gardens Arts Festival are excited
about delivering this iconic
10-day event once again.
Further details are available
at www.hgaf.co.nz
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