True Group records Bt385 million net profit in Q3

Published November 15, 2018 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30358601

TRUE Co-president Vichaow Rakphongphairoj
TRUE Co-president Vichaow Rakphongphairoj

True Group records Bt385 million net profit in Q3

Corporate November 15, 2018 10:27

By The Nation

True Corporation PLC (TRUE) recorded Bt385 million net profit in the third quarter of 2018 bolstered by accelerating service revenues with double-digit YoY growth in both mobile and broadband internet businesses, the company said in a press release issued on Wednesday.

True Group’s financial performance continued to improve in the third quarter of 2018 as service revenue reached a record high of Bt26.3 billion. The growth of 7.3 per cent YoY or 10.3 per cent YoY excluded contribution from the fixed-line phone concession, driven mainly by both cellular and broadband growth, while cost controls remained intact, the company said.

Excluding impact from sales of assets to the Digital Telecommunications Infrastructure Fund (DIF), EBITDA grew 13.9 per cent from the previous year to Bt10.2 billion with margin increasing to 38.4 per cent in 3Q18 compared to 36.5 per cent in 3Q17. Consolidated net profit was Bt385 million, significantly improving from a loss of Bt691 million in the same period last year.

Co-president Vichaow Rakphongphairoj said: “True Group continued to deliver core earnings improvement and profit in 3Q18. This solid performance was driven by accelerating service revenues thanks to our successful customer-driven strategy and tremendous efforts on enhancing network and service levels while cost and productivity measures continued to improve.

“TrueMove H was a strong Q3 performer as it continued its stellar growth momentum with double-digit service revenue growth YoY while revenue market share surged to 28.9 per cent, the highest quarterly market share gain since 2Q17. At the same time, TrueOnline’s expanded FTTH footprint and 1Gbps offerings continued to drive strong double-digit YoY growth of broadband revenue and subscribers.

“Given our strengths on network, convergence, versatile content and digital offerings as well as engaging privilege campaigns highlighting benefits of being True’s loyal customers, we are confident to carry on the upward profitability trend.”

Co-President Dr Kittinut Tikawan said: “This is clearly a positive quarter with record revenue and core profit growth, pinpointing a significant step forward for True Group’s performance. Our mobile business is now fully competitive in the under-penetrated areas of Thailand where there is a plenty of room to attract additional subscribers thanks to our concentrated efforts to improve network density in these areas during the first half of the year.

“Meanwhile, the FTTH network upgrade and 1Gbps offerings have received excellent market response further strengthening TrueOnline’s broadband leadership. The regionalised marketing campaigns with dedicated teams and packages that match demands of each target group have proven successful and this quarter is just the beginning of our progression.

“We believe the accelerating momentum should sustain in upcoming quarters as more and more consumers experience and recognize our exceptional services while added benefits such as TrueID and True Points from our privilege programs will push customer engagement higher.”

TrueMove H outstripped the mobile industry in the third quarter of 2018 with service revenue growth of 10.1 per cent YoY and 2.7 per cent QoQ to Bt18.9 billion contrasting with the YoY and QoQ drop for both of its major competitors.

This was the 26th consecutive quarter in which TrueMove H’s revenue grew faster than the market, and as a result, TrueMove H’s value market share jumped to 28.9 per cent in 3Q18, the highest quarterly market share gain in six quarters, the company said.

The major network upgrade and localised marketing campaigns particularly in Northeast as well as synergy among True Group and business partners contributed to TrueMove H’s continued above-industry growth. It posted 678k net adds during the quarter and grew subscriber base to 28.8 million.

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Principal Healthcare first to use Workday HCM cloud technology

Published November 15, 2018 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30358599

Principal Healthcare first to use Workday HCM cloud technology

Breaking News November 15, 2018 10:21

By The Nation

Workday, a leader in enterprise cloud applications for finance and human resources, has announced that Principal Healthcare, one of the most experienced healthcare management and services companies in Asean, is beginning to deploy Workday Human Capital Management (HCM).

In a press release issued on Thursday, the company said that Principal Healthcare, with subsidiaries of seven hospitals in six provinces (Princ Suvarnabhumi Hospital, Princ Paknampo 1 and 2 Hospital, Princ Uthai Thani Hospital, Pitsanuvej Hospital, Pitsanuvej Uttaradit Hospital and Sahavej Hospital), is the first company in Thailand’s healthcare industry to use cloud technology for HCM as part of its digital transformation strategy.

Dr. Satit Viddayakorn, chairman of the board of Principal Healthcare, said: “We are embarking on a digital transformation journey that will empower our people and processes, as we plan to increase the number of hospitals under our network from seven to 20 by 2023. Since partnering Workday, we have seen significant improvements in our employee engagement and management processes, with increased transparency and collaboration between different functions of the business.”

Jasie Fon, managing director, Workday Southeast Asia, said: “Competition for talent in the healthcare industry is increasing and greater employee mobility has made human resource management more complex.

“Workday’s HCM solutions enable Principal Healthcare to unlock greater employee insights to help make more informed decisions, while optimising human resources and talent management operations.”

Workday opened its Thailand office earlier this year as part of a global growth strategy to build a stronger presence in Asia, bringing human capital management, financial management and analytical capabilities to new markets, the company said.

EGCO pushes on with Korea investment deal

Published November 15, 2018 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30358542

The Paju Power Plant
The Paju Power Plant

EGCO pushes on with Korea investment deal

Corporate November 15, 2018 01:00

By THE NATION

ELECTRICITY Generating Public Co Ltd Group (EGCO) plans to push ahead with the purchase of a 49 per cent ownership stake in Paju Energy Service Co Ltd (Paju ES), which operates a power plant in South Korea.

The signing of the agreement – reflecting the company’s pursuit of investment opportunities in Asia – is scheduled to take place this month, involving investment of Bt26.2 billion, EGCO said. The agreement is expected to close in January.

EGCO said in a filing to the Stock Exchange of Thailand yesterday that the stake purchase would be made through its wholly owned subsidiary Gen Plus B.V. The investment was approved by its board on October 19 and will be subject to relevant closing conditions under the transaction documents.

Paju ES owns and operates the Paju Power Plant, a combined cycle gas-fired power facility in Gyeonggi province. The plant has a production capacity of more than 1,800 MW and uses imported liquefied natural gas (LNG) as fuel.

Paju ES is owned and was developed by SK E&S Co Ltd (SK E&S), the first private power company to directly import LNG from overseas markets to South Korea, including LNG from producers in Australia, Indonesia and the United |States, among other countries worldwide.

The Paju ES power plant began operation in February 2017 and supplies electricity to Korea Electric Power Corporation, the sole off-taker of wholesale power generation in South Korea, through Korea Power Exchange, the market operator of the South Korean cost-based pool power market.

“South Korea has a robust power market with strong prospects for steady growth in power demand. The country is focused on promoting the use of clean LNG fuel as well as renewables to meet this demand. This investment represents a unique and important opportunity for EGCO,” Jakgrich Pibulpairoj, EGCO group president, said.

“We see a number of business synergies between SK E&S’s gas to power business and prospective development opportunities in Thailand and other core markets in Asia where gas to power projects have become an important means of providing reliable, clean power.

“Moreover, SK E&S is recognised as an LNG to power specialist with business interests throughout the entire LNG value chain. The partnership that will begin with our co-investment in Paju ES will provide an excellent platform for promoting this type of business together in Thailand and elsewhere in the region.

Beyond gas to power opportunities, we will also explore renewables as an area for potential future collaboration in Korea and elsewhere in Asia.”

EGCO Group’s operating result for the first nine months of 2018 showed the net profit of Bt21.754 billion, an increase of 117 per cent when compared to the same period last year, due to the divestment of three assets in the first quarter. If considering the third quarter of 2018, the company recorded Bt3.947 billion net profit, or 12 per cent higher than the previous year, mainly from exchange rate appreciation.

As of October 31, EGCO Group runs 26 operating power plants with total equity contracted capacity of 4,260 MW in five countries across the Asia Pacific region – Thailand, Laos, the Philippines, Indonesia and Australia. It has three projects under construction with total equity contracted capacity of 544 MW.

Kbank, AIS support hospitals in transition

Published November 15, 2018 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30358544

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Kbank, AIS support hospitals in transition

Corporate November 15, 2018 01:00

Kasikornbank and Advanced Wireless Network Company Limited of Advanced Info Service have signed a memorandum of understanding (MoU) on cooperation in the “Smart Hospital and Healthcare” project.

Under this MOU, both parties will collaborate in planning technology and innovation developments for various hospital business groups, including digital-based financial innovation and a platform linking all services of participating hospitals, so as to help enhance their service efficiency. This cooperation is aimed at steering the Thai medical and public health industry toward the Healthcare 4.0 era.

MEDCO PLAST DEAL

IVL looks to PET market in East Africa 

Indorama Ventures (IVL) has completed the acquisition of 74 per cent of the share capital of Medco Plast for Packing and Packaging Systems SAE (Medco Plast) from Middle East Glass Manufacturing Co (MEG) and the Samaha family.

MEG will retain a 16-per-cent shareholding in Medco Plast, and the Samaha family 10 per cent.

Medco Plast is the largest manufacturer of recyclable PET preforms, injection moulded products, and closures for all the multinational soft drink and water manufacturers operating in Egypt, with a 25-per-cent market share. Medco Plast currently has 11 state-of-the-art production lines with a combined annual production capacity of 70,000 tonnes of PET preforms.

Egypt is one of the most developed and diversified economies in the Middle East, with economic growth of about 5 per cent. This acquisition will give Indorama Ventures exposure to the East African PET packaging market, complementing its existing footprint in West Africa, where the company has a presence in Nigeria and Ghana.

Indorama Ventures will bring best-in-class know-how capabilities as well as supply chain economies to further enhance Medco Plast’s leadership position and grow it into the leading regional player, according to an IVL press release yesterday.

CEMENT 

Semen Indonesia largest in Asean after acquisition 

Indonesia’s state-owned cement producer PT Semen Indonesia (SI) president director Hendi Prio Santoso says the company will be able to produce 53 million tonnes of cement following its acquisition of PT Holcim Indonesia.

“Semen Indonesia alone controls 40 per cent of the cement market in Indonesia, while Holcim controls 15 per cent of the market. It means that we will control 55 per cent of the domestic market,” he said as reported by kontan.co.id yesterday.

Hendi said the company had anticipated an increase in the demand for cement ahead of the acquisition.

SI announced on Tuesday it had taken over 6.18 billion shares of Holcim, 80.6 per cent of the company’s shares in a US$916 million (Bt30 billion) transaction. The acquisition was held by PT Semen Indonesia Industri Bangunan, a subsidiary of SI.

SI corporate secretary Agung Wiharto said there were 15 cement producers in the country with total installed capacity of 107 million tonnes, while domestic consumption had reached 66.5 million tonnes.

Market demand increased to 70 million tonnes in 2017, meaning that the gap had reached 37 million tonnes, he added.

Agung estimated that supply and demand would balance out in 2027, with an estimation of 7 per cent annual demand growth. He added that SI sales had grown 5 per cent from January to September, while the company’s capacity utilisation had reached 90 per cent.

“Without any additional capacity, Semen Indonesia could do nothing to fulfil the increase in market demand,” Agung added. – The Jakarta Post

TECH FOR CLIENTS 

Deutsche Bank opens first Asia-Pacific lab 

Deutsche Bank yesterday launched its first Asia-Pacific innovation lab in Singapore, and will develop ideas with start-ups for its wealth management business.

The German bank declined to disclose an investment figure for the Singapore lab.

The bank said its innovation labs are part of its drive to digitalise and embrace emerging technologies for the benefit of clients.

For its Singapore lab, finding the best start-up opportunities across the Asia Pacific to scale globally across the bank’s platform will be a key objective, said Deutsche Bank. It added that Singapore’s addition to the platform would ensure that the innovation needs of the bank’s Asia Pacific businesses are plugged into its global innovation platform.

The bank has other innovation labs in Berlin, London, New York and Palo Alto. Singapore’s innovation lab is the first of the labs at Deutsche Bank to be housed within the bank itself.  The Straits Times

CAKE CONTEST

Thai wins Best of Gold award

Thai cake designer Lippakorn Preeyapabulakit has won the Best of Gold award at Cake International 2018 in Birmingham, Britain for his design concept of The Spirit of Thailand and The Divine Mother.

His entry to the contest was sponsored by Thai Rungruang Sugar, the manufacturer of Lin sugar and Thailand’s first fondant product.

The Cake International 2018 held on 2-4 November.

GPSC to learn soon of fate of appeal over blocked Glow deal

Published November 15, 2018 by SoClaimon

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http://www.nationmultimedia.com/detail/Corporate/30358547

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GPSC to learn soon of fate of appeal over blocked Glow deal

Corporate November 15, 2018 01:00

By THE NATION

THE board of the Energy Regulatory Commission (ERC) is expected to rule on November 21 on whether to accept an appeal lodged by Global Power Synergy (GPSC) against the regulator’s decision in October to block the company’s plan to take over fellow power producer Glow Energy.

A source within the regulator said the ERC yesterday had a preliminary discussion on the submitted appeal. The regulator’s board also instructed officials to gather information for the board’s consideration at its next meeting.

As the board meets every Wednesday, it is expected that the board will vote next Wednesday on whether to accept GPSC’s grounds for appeal.

However, the source said that if the board finds that GPSC has not presented any new information for its appeal, the board will not propose any consideration to proceed to a vote on the matter.

The ERC in October blocked plans by GPSC to buy 69.11 per cent of the shares in Glow. In a unanimous resolution, the regulator ruled that the proposed transaction could stifle competition in the energy business, violating provisions in the Energy Business Law of 2550.

The GPSC board resolved on June 19 to approve the company’s plan to acquire directly and indirectly 69.11 per cent of the total issued shares of Glow from Engie Global Developments and make a tender offer for the rest of Glow’s securities. The company entered into a share-purchase agreement with the seller on June 20. The sale and purchase of shares were to proceed only after the fulfilment of conditions including the approval of the transaction by the ERC.

According to a Fitch Ratings release yesterday, the ratings on GPSC remain on Rating Watch Negative (RWN) after the company said it submitted an appeal against the ERC’s order that blocked GPSC’s acquisition of Glow.

Fitch said that GPSC’s ratings will remain on RWN pending the outcome of the appeal. If GPSC ultimately proves unsuccessful in challenging the ERC’s decision and the transaction does not go ahead, Fitch expects GPSC’s ratings to be unchanged, given that the company’s financial and business profiles are broadly consistent with those prior to entering into the acquisition.

Should the appeal be successful, the ratings of GPSC would remain on RWN pending further progress on the acquisition. Fitch expects to review the RWN once the transaction is completed and there is a greater clarity on the long-term funding and post-transaction capital structure.

Fitch initially placed GPSC’s ratings on RWN on June 22, based on the expectation that GPSC’s financial profile would deteriorate, as leverage could worsen to levels that are not in line with its “A+(tha)” ratings. The acquisition would be initially funded by bridging facilities, which would mature one year from the deal’s completion.

If the company wins its appeal, it plans to complete various transactions, including the issuance of a debenture and an equity injection, which would affect its long-term capital structure.

Chewathai steps up the pace for revenue goal of Bt4.5 bn in 2021

Published November 15, 2018 by SoClaimon

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http://www.nationmultimedia.com/detail/Corporate/30358548

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Chewathai steps up the pace for revenue goal of Bt4.5 bn in 2021

Corporate November 15, 2018 01:00

By SOMLUCK SRIMALEE
THE NATION

LISTED property firm Chewathai Plc aims to achieve total revenue of up to Bt4.5 billion in 2021 under a plan to launch at least eight residential projects valued at between Bt6 billion and Bt7 billion a year, managing director Boon Choon Kiat said.

Boon, in an interview with The Nation, said the property developer had been posting only moderate growth since its establishment in 2008 until 2014, a period in which it launched an average of one or two residential projects a year. But that pattern changed in 2015, when the company embarked on an aggressive investment schedule by stepping up the pace of project launches in a bid to push total yearly revenue growth into the double digits.

At the end of 2017, the company recorded total revenue of Bt2.04 billion and net profit of Bt155.5 million, jumping 70 per cent and 146.51 per cent, respectively, from 2016. The growth rates have accelerated this year, with total revenue of Bt2.25 billion and net profit of Bt244 million booked for the first nine months – representing gains of 170.97 per cent and 897.88 per cent, respectively, from the same period of last year.

Boost from pipeline

“We expect our total revenue to achieve the targeted Bt2.4 billion at the end of this year, given the company’s total backlog of properties that have already been sold and are awaiting transfer to the buyers,” he said.

“As part of a total backlog worth Bt570 million, some of the sale proceeds that will come in as projects are completed will booked as |company in the last quarter of this year.”

The company’s inventory, which comprises units in completed projects that are awaiting sale, is worth about Bt1.53 billion. The proceeds from home purchases are credited immediately to the company’s revenue, Boon said.

For 2019, the company is targeting total revenue of Bt2.8 billion, marking an expected rise of 20 per cent from this year – thanks to plans to launch at least seven residential projects worth more than Bt6 billion that year, Boon said.

In 2020, the company expects its total revenue will come in between Bt3 billion and Bt3.5 billion, helped by plans to launch at least eight housing projects worth about Bt7 billion that year. It plans to repeat that effort in 2021.

The busy launch schedule is expected to drive total revenue to at least Bt4.5 billion for that year, Boon said.

Under the company’s business plan for achieving the 2021 goal, it will focus on customers from both the domestic and overseas markets, he said.

Up to 10 per cent of its customers come from overseas, including those from mainland China, Taiwan, Singapore and Hong Kong. By 2021, the company expects that foreign buyers will account for 25 per cent of its total sales, Boon said.

“We are confident that Thailand’s economy will maintain its growth in line with the government’s increased investment to develop the country’s infrastructure,” he said.

“The new infrastructure will open up opportunities for property firms to develop residential projects at new locations, which will emerge as new central business districts following the expansion in the mass transit routes.

“This presents a challenge for property firms to drive business growth, including for our firm.”

AirAsia moves to Bhiraj Tower

Published November 15, 2018 by SoClaimon

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http://www.nationmultimedia.com/detail/Corporate/30358566

AirAsia moves to Bhiraj Tower

Corporate November 14, 2018 20:30

By The Nation

Bhiraj Tower at EmQuartier on Sukhumvit Road near Phrom Phong BTS station has welcomed AirAsia.

 Pattra Boosarawongse, chief financial officer at the budget airline, said: “AirAsia was searching for a well-facilitated office building that suits International business companies like ours. The Bhiraj Tower meets all our needs for convenience, state-of-the-art facilities and management systems.”

Thai Union launches marine oil refinery in Germany

Published November 15, 2018 by SoClaimon

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http://www.nationmultimedia.com/detail/Corporate/30358564

Thai Union launches marine oil refinery in Germany

Corporate November 14, 2018 20:14

By The Nation

Thai Union Group PCL, one of the world’s leading seafood producers, has successfully commissioned its US$24 million Thai Union Marine Nutrients tuna oil refinery.

The refinery in Rostock, Germany, produces highly refined tuna oil which is considered one of the best sources of omega 3 and DHA, ingredients critical to health and infant development.

Thai Union said it was now the only refiner of high-grade tuna oil with complete end-to-end supply chain and production management. Initial oil extraction is completed by Thai Union in Samut Sakhon before being shipped to Rostock via Hamburg.

“We are focused on creating a sustainable future for the tuna industry by maximising and leveraging high-nutrient tuna byproducts. Our pure tuna oil is just our first step in a suite of nutritional innovations from our marine ingredients business,” said Thiraphong Chansiri, CEO at Thai Union.

Thai Union’s marine ingredients arm was set up in 2017 to meet the growing market demand for natural, seafood-derived byproducts beneficial to human nutrition, such as marine omega-3 fatty acids.

“This is the beginning of our sustainable innovation journey – what is left after we extract the oil, we will focus on utilising all of the nutritional benefits of the tuna, creating highly sustainable and innovative products to benefit human health and nutrition, now and into the future,” added Chansiri.

Central Group launches high season campaign

Published November 15, 2018 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30358563

Central Group Executive Director Pichai Chirathivat
Central Group Executive Director Pichai Chirathivat

Central Group launches high season campaign

Corporate November 14, 2018 20:10

By The Nation

Central Group is launching “passport privileges” organised by the Tourism Authority of Thailand (TAT), investing over Bt500 million in the Amazing Thailand sale.

Every business in the group and over 10,000 brands are making discounts in the high season and giving many privileges to tourists until April 30.

Central Group Executive Director Pichai Chirathivat said the campaign was expected to boost sales to tourists by 5 per cent, putting an extra Bt20 billion into the Central Group.

Sugarcane farming products launched

Published November 15, 2018 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30358561

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Sugarcane farming products launched

Corporate November 14, 2018 20:07

By The Nation

Siam Kubota has unveiled two tractor products for sugarcane farming: a Sugarcane Leaf Remover, which facilitates manual sugarcane harvesting and reduces the need to burn sugarcane leaves, and a Sugarcane Cut Remover, which allows sugarcane farmers to finish harvesting in one go.

These two implements will ensure that professional cane farmers have fresh sugarcane to deliver to sugar factories with higher incomes.

Somsak Mauthorn, Siam Kubota vice president, said: “As a result of the government’s zoning policy that promotes the conversion of paddy fields in geographically unfavourable areas into plantations of economic crops, such as sugarcane, cassava and maize. It has found that some farmers have turned to do sugarcane farming.”

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