Umbrella hanger

Any guess for what is this?  I found this while I was walking passed Seven Eleven. 

This is actually an umbrella hanger.  At times, when we are out for lunch break during raining time, we may have problem looking for place to put the wet umbrella.  This will come in handy as it will sit nicely beside your table top. I've tried it on umbrellas with either short or long handle and it works equally well.

Umbrella hanger
Available at 7-11
S$2.00