UOB LAUNCHES NEW INFINITE CARD DESIGNED TO TAP INTO WEALTHY MALAYSIANS’ PASSION FOR TRAVEL, LUXURY SHOPPING AND DINING Kuala Lumpur, 1 June 2012 – Indulgences such as travel, luxury goods and dining, are the top three items on the shopping lists of Malaysia’s wealthy consumers, according to card spending data released today by United Overseas Bank (Malaysia) Bhd (UOB Malaysia). This customer insight was central to the design of the UOB Infinite Credit Card which features must-have travel and lifestyle privileges with leading brands such as Bvlgari, Cartier, Hermes and Rolex. The card is the Bank’s most exclusive card product and is available strictly by invitation only to customers with an annual income of RM300,000 per annum and above. Mr Kevin Lam, Managing Director of Personal Financial Services of UOB Malaysia said that travel privileges were a key focus of the UOB Infinite Credit Card because of wealthy Malaysians’ passion for travel. The card spending patterns of wealthy cardholders over the last six months1 showed that they spent the most on travel, with 17 per cent of total spend going towards purchases of air tickets and hotel accommodation. Fifteen per cent was on luxury products such as jewellery, watches and fashion, while 12 per cent was on dining. “Almost one in every five Ringgit spent on cards by wealthy consumers is travel-related. We expect this number to rise as the level of affluence in Malaysia increases and wealthy consumers travel more frequently in the coming years. We expect travel-related purchases to be key drivers behind an anticipated 20 per cent increase in total card spend volume for all premium credit cards over the next year,” said Mr Lam.
Malaysians have been flying more this year encouraged by the strength of the Ringgit, easy access to online travel bookings sites and attractive travel promotions from increased competition among air carriers. According to the Malaysian airport authorities, air travel by Malaysians has increased 6.5 percent in the first quarter of this year compared to the corresponding quarter last year2 .
UOB Infinite Credit Card Special Privileges*
Travel
The UOB Infinite Credit Card offers customers a host of luxury travel benefits including 80 per cent off companion ticket prices when travelling on Malaysia Airlines’ Business Class and frequent flyer miles conversion at special rate. Other travel privileges include: - Priority access to over 600 airport lounges globally
- Fast track immigration service allowing cardholders to bypass the long queues at immigration counters at over 280 international airports
- Exclusive club access at G Tower Kuala Lumpur
- Complimentary platinum membership for hotels under the Global Hotel Alliance including the Park Royal and Pan Pacific hotels
- Privileges at some of the world's finest boutique hotels in the Visa Luxury Hotel Collection
- Five times UniRinggit rewards points for overseas purchases
Luxury Retail and Lifestyle
Luxury shopping and lifestyle experiences await UOB Infinite Credit Card members including year long shopping privileges with global fashion brands such as Aigner, Aseana, Bally, Bvlgari, Cartier, Cole Haan, Hermes, IWC, Jimmy Choo, Rolex, Shanghai Tang, Vertu and Stuart Weitzman. Card members can also enjoy priority booking and special ticket prices for concerts; as well as access to VIP lounges where they can rub shoulders with top international artistes. Dining
Under the Chef Creation programme, card members can select from menus that are specially created exclusively for card members by top chefs such as Chef Garth Welsh, Chief Chef of Westin Hotel Kuala Lumpur, and Chef Justin Hor, Head Chef of Oriental Group of Restaurants, Malaysia. Other dining privileges include special discounts at all Starwood Group, Malaysia. Gourmands can also look forward to invites to special fine dining appreciation evenings. Golf
Private coaching with golf professionals in Malaysia is available year long for those who want to lower their handicap and improve their swing. Card members enjoy complimentary greens fees at two of the top golf courses in the country, the Saujana Golf and Country Club and the Kota Permai Golf and Country Club. Those teeing off overseas also enjoy complimentary green fees at nine 5-star golf courses, as well as discounted green fees at more than 300 top golf courses worldwide. UOB Concierge Service
From booking theatre tickets in New York to booking a table at a Michelin-starred restaurant in Paris, the UOB Concierge Service is on hand to assist card members with all their lifestyle needs. UOB Infinite Credit Card members have access to the round-the-clock UOB Concierge Service from anywhere in the world. * Terms and conditions apply. For more information go to www.uob.com.my 1 Cardholder data of customers with an annual income of RM300,000 was analysed from the period of November 2011 to April 2012.
2 Malaysia Airports Holdings Berhad first quarter 2012 financial results
|