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Top THAI execs agree to help out by cutting their salaries

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30375012

Top THAI execs agree to help out by cutting their salaries

Aug 19. 2019
Sumeth Damrongchaitham

Sumeth Damrongchaitham
By THE NATION

689 Viewed

Sumeth Damrongchaitham, president and CEO of Thai Airways International (THAI), said the airline is only reducing the salaries of top executives, not operation officers.

After a THAI board meeting on August 19, it was reported that many top executives agreed willingly to reduce their salaries in order to ease the burden on the airline.

“Lower cost measures will help Thai Airways compete in the airline business. Many board members and top executives have shown their compassion and agreed to help the organisation during this time of crisis. Officials at the operational level do not need to worry, because this measure only aims to lower the cost of management without any effect on the quality of service,” Sumeth said.

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THAI urged to cut purchase of new aircraft to 25

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30375005

THAI urged to cut purchase of new aircraft to 25

Aug 19. 2019
By THE NATION

841 Viewed

Deputy Transport Minister Thavorn Senniam has called on Thai Airways International (THAI) to reconsider its request to purchase 38 aircraft, saying 25 is a more reasonable number.

He said the request has been returned to the THAI board to reconsider at its August 27 meeting, adding that the Cabinet should take no longer than the end of September to approve the purchase of 25 aircraft.

Thavorn added that he had asked THAI president and CEO Sumeth Damrongchaitham to tell him exactly how many aircraft were required, and Sumeth had reportedly said 25. The request for 38 aircraft was made to the previous Cabinet in 2011, he said.

Sumeth, however, told the media later that the number of 38 had been divided into two unspecified timelines – the first purchase would be 25 aircraft and the second 13. He added that the 13 aircraft would replace several existing aircraft, which will be decommissioned, keeping THAI’s fleet at 100.

He said the purchase process was now back to square one due to Thavorn’s request for reconsideration, but this was good because it would be processed quickly.

Lalamove gears up for CLMVT market expansion

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374999

Lalamove gears up for CLMVT market expansion

Aug 19. 2019
By THE NATION

318 Viewed

Three prominent figures in the on-demand delivery service, including Santit Jirawongkraisorn, managing director of Lalamove’s international operations, recently participated in a panel discussion organised by CLMVT Cross Border Digital Trade.

He appeared alongside Gina Galvin, managing director of FedEx Express Thailand and Ariya Thongbai, head of international business unit, Marketing and Business of Thailand Post Co Ltd, Thailand.

Santit spoke on the “Next Steps of CMLVT Cross-border Digital Trade Ecosystem: Logistics”.

The event focused on the outlook of the logistics market and Lalamove’s strategies in offering services that fit consumer demand. Santit stressed the importance of building a trusting relationship with logistic partners for e-commerce businesses. Due to the region’s high demand for on-demand delivery services, the company is able to tap into opportunities and singled out services that other businesses have yet to offer, such as document processing service and introducing a queuing service to purchase concert tickets in Manila. “Personally, I have experienced some of the inefficient services. When I was in Manila, getting a postpaid mobile service required me to queue in line for 2 hours and that is the norm. The queuing service is quite popular there,” he said.

Lalamove recognizes the differences in user behaviour, culture, and business climate between Singapore, China, Thailand, Taiwan, and Hong Kong.

The future of logistics providers lies in the ability to adjust to the fast-changing market dynamics and increasing demand as it makes up 10 to 20 per cent of Thailand’s GDP. On top of that, the government needs to take an active approach in terms of implementing regulations that will help support innovative startups in the private sector as well as development of the transport infrastructure. Santit predicted that the logistic services will one day become a commodity, faster and cheaper.

“Beauty Buffet” opts for multi-brand format, rolls out first flagship store

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374993

“Beauty Buffet” opts for multi-brand format, rolls out first flagship store

Aug 19. 2019
Dr Peerapong Kitiveshpokawat

Dr Peerapong Kitiveshpokawat
By THE NATION

328 Viewed

Beauty Community Co Ltd (Beauty), a leading make-up and skincare retailer under the concept of “Live A Beautiful Life”, teamed up with more than 14 leading cosmetics and healthcare brands – such as Karmart, Snail White, Bokhtoh, Smith and Her Highness to proactively penetrate the beauty & health market while driving the O2O marketing strategy to push sales in Thailand, said Dr Peerapong Kitiveshpokawat, the company’s Deputy CEO.

The company has started displaying and selling products of its partners at 120 Beauty Buffet branches across the country, at a ratio of 80 per cent Beauty Buffet-owned products and 20 per cent multi-brand products of its partners.

The transformation of Beauty Buffet shops to multi-brand format endorses the concept of “The Kitchen Storage” and still reiterates the positioning on “Beauty That All-You-Can-Choose” which emphasises accessibility, variety, affordability and excitement. This reputational overhaul is in line with the evolving consumer lifestyle, leading to improvement in shop appearance, design, utilisation and service.

The company also launched its first flagship store at MBK Center on July 4 and plans to renovate three of its branches at Central Ladprao, Central Chonburi and Robinson in Trang.

This transformation is a significant move for Beauty Buffet in penetrating the health and beauty market. The behaviour of consumers and the majority of shoppers demand a shop with diversity in terms of product brands, prices and categories, as well as with independence when shopping.

The company is confident that the business transformation will lead to positive feedback, satisfy modern-day shoppers, increase sales opportunity and performance, and maintain its leading market share in the beauty retailing industry.

Peerapong added the company is committed to leverage the O2O (Online to Offline synchronisation) marketing strategy, together with the Experience Sharing strategy through Macro Influencers to build mass awareness. The strategies will help convey experiences on the impression of the shop, variety of the products, service of the staff, and promotion of the Beauty Buffet and the multi-brand products. It will also build on the word of mouth of consumers who have actual experience at the offline store, which will then be shared back to the online platforms of both the brands and consumers. These marketing strategies are expected to help stimulate sales.

“In general, the health and beauty market has become more competitive amid growing popularity. The trend has influenced market players to adapt and create a unique value positioning that could satisfy consumers in order to increase market share. Thailand’s cosmetics market is valued at Bt180 billion with growth averaging 7.8 – 7.9 per cent a year, while the nutrient market is valued at Bt87 billion,” Peerapong said.

TMB appoints new head for retail banking

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374988

TMB appoints new head for retail banking

Aug 19. 2019
Marie Ramlie

Marie Ramlie
By THE NATION

219 Viewed

TMB appointed Marie Ramlie as Chief Retail Banking Officer, effective August 1, 2019. She succeeded Roel Huisman who had completed his tenure with TMB on July 31, 2019.

Marie joined TMB as head of retail products in 2013 and was appointed a TMBAM Board director in 2014. Her accomplishments at TMB included a steady expansion of the retail product market and strong bottom-line growth originating from new transactional, deposit, lending, bancassurance and mutual fund product offering, designed to serve unmet needs of customers and create more value.

During her tenure as head of retail products, major changes were implemented in TMB’s investment offers, such as TMB Open Architecture which creates an opportunity for all groups of investors to access and select quality mutual funds from various fund houses through a Thai bank for the first time in the country.

Another one being a flexible unit-linked offer, added to the insurance selection, to support Thai investors in building their long term wealth development needs. With her extensive experience, accomplishments and deep understanding of TMB’s Make the Difference corporate philosophy, Marie is entrusted with the enlarged scope of responsibility as the new TMB chief retail banking officer.

Marie has more than 20 years of experience in the banking sector. Prior to joining TMB, she was Vice President, products and distribution channels of ING Direct France, where she joined in 2002 as advertising and communication director.

Terra Capital invests in Singapore’s Flat Monthly

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374983

Terra Capital invests in Singapore’s Flat Monthly

Aug 19. 2019
By THE NATION

261 Viewed

Terra Capital has announced a new addition to its growing investment portfolio with a seed investment into Singapore-headquartered online property rental marketplace Flat Monthly (www.flatmonthly.com).

Flat Monthly is an online platform for landlords, agents, and tenants that expedites listing, searching, and transacting agreements for the rental of condominiums and apartments. By moving the rental process online, automating many routine tasks, and offering cutting edge features like 3D photography, virtual reality tours, digital signing and online rental payment, Flat Monthly streamlines the rental process end-to-end; saving time and money while achieving more satisfactory results.

Terra Capital’s investment in Flat Monthly will be used for immersive content.

CEO Stefan Gunnarsson commented, “We are delighted to add Flat Monthly to our invested companies. Flat Monthly’s growth trajectory is leading it to establish a large footprint across Southeast Asia. I fully believe Flat Monthly will become the expedia of the high growth sector of long-term rental space. Flat Monthly’s disruptive solution and experienced core team are strongly positioned to become the next winner in the property tech space.”

Over the past three years, Terra Capital had invested a total of US$2 million (Bt62 million) in eleven startups in pre-seed, early stage rounds, with the aim of investing $5 million within the next twelve months.

In addition to Flat Monthly, Terra Capital invested in Vizoport (www.vizoport.com), which is now securing its series A round.

The company invested in Vizoport in September 2018, with the aim of building up and preparing the company for international operations and establishing a solid client base. Vizoport showed profitability eight months later and continues to grow, making it Asia’s largest producer of 3D immersive content.

Terra Capital invested in JobExpress (www.jobexpress.asia) in 2018, helping establish a strong position for the company in the recruitment sector, where disruption and scalability are the main drivers for success. JobExpress is taking the lead in the market today; defining its business in the same way as a low-cost airline or recruitment service with a high emphasis on minimising operating costs.

PTT Oil gets minister’s conditional support

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374981

PTT Oil gets minister’s conditional support

Aug 19. 2019
By THE NATION

204 Viewed

Energy Minister Sontirat Sontijirawong late last week told PTT Oil and Retail Business that he would support its plan to list on the Stock Exchange of Thailand if it can serve the ministry’s three main policies.

These involve helping ensure national energy security, using its strengths to benefit the grassroots economy and continuing to expand overseas.

FTREIT shows positive growth

Published August 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374974

FTREIT shows positive growth

Aug 19. 2019
Peerapat

Peerapat
By The Nation

194 Viewed

Frasers Property Industrial REIT Management (Thailand) in its capacity as the REIT manager of FTREIT, on Monday announced FTREIT’s total income of Bt694.5 million for the third quarter of its fiscal year 2019, an increase of 4 per cent. Net investment income rose 12 per cent to Bt446.3 million from Bt399.2 million for the second quarter of fiscal year 2018 (Apr – Jun’18).

The increase took into account contributions from FTREIT’s asset acquisition value of Bt3.6 billion from Frasers group on August and December 2018. In additional, occupancy rate increased from 79 per cent (as of June 30, 2018) to 82 per cent (as of June 30. 2019).

In terms of operating performance for the first nine months of FY2019 (October 1, 2018-June 30, 2019), FTREIT’s total income was Bt2.08 billion, a 40 per cent increase over the same period last year. Net investment income for 9-month period was Bt1.33 billion, an increase of 42 per cent.

The growth was mainly derived from increasing rental and service income from transfer assets from 3 PFPOs – TFUND, TLOGIST and TGROWTH in December 2017 and acquisition of additional assets in August and December 2018, according to the company reports.

Peerapat Srisukont, managing director of Frasers Property Industrial REIT Management (Thailand), noted that the company was focused on delivering sustainable growth through its strong asset management by maintaining high renewal and occupancy rates.

At present, FTREIT has an average occupancy rate of more than 82 per cent.

The distribution payment from the third quarter of fiscal year 2019 operations was announced at Bt0.1670 per unit, and increase of 4.4 per cent from Bt0.1600 per unit for the same period of last year. The DPU of the 9- month operation was 4.8 per cent higher at Bt0.5010 per unit, from Bt0.4781 per unit a year ago.

“Subsequent to the quarter ending July 19, 2019, the Board of Directors of REIT Manager approved additional investment in properties owned by Frasers Property Thailand. These properties are located in the Laem Chabang 2 and Sri Racha projects and comprise two warehouse buildings with 6 units with a net leaseable area of around 29,850 sqm and with investment value not exceeding Bt637 million. These new properties are high quality buildings and located in prime industrial and logistics areas,” he said.

Spaces bring co-working to the north of Bangkok

Published August 18, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374906

Spaces bring co-working to the north of Bangkok

Aug 17. 2019
By The Nation

577 Viewed

Innovative workspace pioneer Spaces is all set to bring convenience to young professional with the opening next month of a fourth branch in Phaholyothin Soi 19.

The new location features more than 2,900 sqm of leasable office space and is a joint venture between Spaces and the landlord of the Phahon 19 building under a new partnership model.

Strategically located near MRT Phaholyothin, the soon-to-open Spaces Phahon 19 is targeting a new market segment that covers Lat Phrao, Chatuchak, Bang Khen and Ratchayothin. It is surrounded by an abundance of office buildings, shopping malls and communal areas and is just a few minutes away from Central Plaza Lat Phrao.

The space boasts a modern, light and airy European design, great coffee, with banks of floor-to-ceiling windows on the second floor of Phahon 19. The building comes with its own secure basement garage, which makes travelling easy by both car and public transportation.

“Bangkok is one the most vibrant cities in the world with growing business hubs and an entrepreneurial spirit. Our decision to expand in this part of town is based on our wish to extend our reach to Bangkokians in the Northern part of the city by providing them with a place to work and meet with like-minded professionals who believe in the power of collaboration. Our contemporary design and warm and genuine hospitality allows our customers to achieve an optimal work-life balance, a ley driver for productivity, employee retention and overall job satisfaction,” said Lars Wittig, country manager of Spaces, which is part of the International Workplace Group (IWG) covering South Korea, Philippines, Vietnam, Cambodia and Thailand.

“In addition, our partnership with the landlord for Spaces Phahon 19 is a testament to the growing demand and interest in the flexible workspace industry. Thailand, as the transportation, business and industry hub of Asean, has a strong demand for quality workspace from both local and international investors, corporates, SMEs, startups and entrepreneurs. By allowing the landlord to invest in our business, we are adding value to development by fostering a community of energetic and driven professionals. At the same time, our expertise in the co-working business offers the landlord agility and a slice of the flexible workspace sector, without the risk of running his own operation,” Wittig added.

The new location at Phahon 19 will consist of 87 co-working desks, private offices, 4 meeting rooms, 6 dedicated desks, as well as meetings rooms, a pantry and a large Business Club. After a hard day at work, members can also choose to step out and enjoy a meal at nearby Rod Fai Park or visit the Thai Bank Museum.

In line with the Spaces brand concept, Spaces Phahon 19 will offer a regular flow of networking events, lunches and communal activities, allowing members to engage, network and venture into new possibilities. Members also have the convenience to access any Spaces co-working location in Bangkok, located at Summer Hill, Chamchuri Square and Empire Tower, and more than 250 Spaces locations worldwide.

Spaces was established in 2006 in Amsterdam and its first branch in Thailand opened at Summer Hill community mall in 2017. Spaces Phahon 19 is expected to be completed by October 2019. For more information on the development of Spaces at Phahon 19 and membership opportunities, visit www.spacesworks.com

PTT remains undeterred by slowdown in economy

Published August 17, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30374895

PTT remains undeterred by slowdown in economy

Aug 16. 2019
By SOMLUCK SRIMALEE
THE NATION

531 Viewed

PTT Plc will continue investing up to Bt30.2 billion for the rest of this year, even though Thailand’s economy is showing little growth, PTT Plc’s president and chief executive office Chansin Treenuchagron told the press on August 16.

PTT has spent up to Bt30 billion in the second half of this year to develop its infrastructure and facilities to support its petrochemical industry and related businesses, and will spend the remaining Bt200 million on developing a new business model such as digital business, new platforms etc.

Chansin Treenuchagron

Chansin Treenuchagron

“Our new business model follows the prototype of projects serving the business long term,” he said, adding that this is the best time for expanding group investment because the interest rates have dropped and the baht has appreciated, which are reducing its investment cost.

“Though there is a slowdown in global and Thai economies, we believe this is the best time to invest on infrastructure and new businesses. This will prepare our businesses before the global and Thai economies pick up in the next two or three years,” he said.

In the first half of this year,the company has invested Bt30 billion, he said.

He added that PTT’s investment in production plants and infrastructure will serve future demands once economies pick up.

Chansin also said that PTT will focus on investing in clean energy in line with its goal to reduce emissions by up to 20 per cent by 2030.

“Our 10-year strategy is to become a clean-energy firm by focusing on innovations and alternative energy,” he said, adding that the trend nowadays is electrification, decentralisation and seeking intelligent solutions.

In terms of electrification, industries are moving towards electricity, with consumption almost doubling from 2017, as electricity is being used as fuel. The coal industry is also being hit hard with industries’ moves to decarbonise, while decentralisation is bringing a more secure and diverse energy system. These objectives are incorporated in the renewables with energy storage and blockchain transaction.

Intelligent solutions will also provide a way of digitalising both the grid and other network technologies with the advent of the internet of things and a surge in power-consuming connected devices.

In line with this trend, he said, PTT Plc will move towards becoming a clean-energy solution firm.

Meanwhile, the company has continued to maintain its plans to get PTT Oil and Retail Business Plc (PTTOR) to be listed in the Stock Exchange of Thailand (SET), but he said he could not reveal a date for this because PTT has to first study the business structure before applying to be listed in the SET.

“We will meet with the Energy Minister today [August 16] to discuss this topic [plans to have PTTOR listed] as well as the ministry’s policy and see if this plan is in a conflict of interest,” he said.

Chansin added that PTT Plc also expects its financial results, both in terms of total revenue and net profit, to be better for the rest of the year as Thailand’s economy is showing signs of recovering and PTT’s investment in new businesses will generate income. PTT recorded a 21-per-cent drop in net profits of Bt55.25 billion in the first half compared to the same period last year.

He also admitted that the net profit at the end of this year will be lower than that of end-2018, which recorded net profit of Bt119.68 billion.

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