Absolutely. The industry is screaming for it.

In the mature markets, the biggest concern is the real estate. So what Singapore has undergone in the last three to five years in retail rental environment, will definitely pervade across the region over the next three to seven.

In China, the growth story is just mind-boggling. China relies upon our solutioning for scalability. We can cut short a lot of their learning curve. If you look at any Chinese retailer, they are doing a fantastic job. These guys have got innovation centres two, three hours out of town where we go and spend a day with them. We relay the flow--the flow of good, the flow of information, is all in our hands. I think China is definitely a tiger to watch out for.

The concern with the India market is that at this stage, the organised retail sector of India is a hugely fragmented market. Usually what we see in markets such as that is Thailand and Indonesia are sort of predecessors of India in the maturity curve. You will see first and foremost convenience stores popping up--the first thing big business can do to try an inroad into small businesses, corners shops, effectively Seven Elevens. Better merchandise, better display, better managed as well. This will be followed by hypermarts, and hypermart typically driven by FMCG (fast moving consumer goods) because LCD TV or a Blu Ray DVD player is still aspirational to emerging markets. The need for toothpaste, shampoo, detergent, is immediate. And of course, hypermart is also about value.