The Nation

All posts tagged The Nation

Toyota banks on stimulus to keep sales at 1 million units

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Toyota banks on stimulus to keep sales at 1 million units

Auto & Audio January 23, 2019 01:00


TOYOTA MOTOR Thailand (TMT) Co Ltd expects Thailand’s auto sales to remain at the 1-mllion-units level this year due to the continuing economic stimulus and the launch of a large number of new models.

“Last year we expected the market to reach 900,000 units but due to the effective economic stimulus measures as well as attractive promotions all year round, the market was able to grow to over 1 million units,” senior vice president Vudhigorn Suriyachantananont said.

In Thailand, the company plans to grow sales by 4.7 per cent to 330,000 vehicles this year. Exports, however, are expected to drop by 5.8 per cent due to weaker markets in the Middle East and Latin America.

Despite several major automakers lowering their production in China due to the China-US trade conflict and shifting it elsewhere, Toyota executives have confirmed they have no plans to relocate Chinese production to Thailand.

While Toyota has big plans to produce hybrid and EV passenger cars in Thailand, it has no plans to introduce the technology to the large number of commercial vehicles that it produces here. The company plans to roll out over 180,000 one-ton pickups and PPVs this year, Vudhigorn said.

“We think the best thing for pick-up trucks is using biodiesel rather than EV technology, which has been found to be effective in lowering emissions in diesel engines,” said Ninnart Chaithirapinyo, who chairs the TMT board.

Last year a total of 1.039 million vehicles were sold in Thailand, marking a growth of 19.2 per cent, added Michinobu Sugata, TMT president.

Almost 400,000 passenger cars were sold in in Thailand 2018, 15 per cent above the previous year, along with 641,616 commercial vehicles, up 22 per cent. Sales of one-ton pick-up trucks, which make up the majority of commercial vehicles, amounted to 447,069 vehicles, rising 23 per cent.

“This is the third time that auto sales have exceeded the 1-million-unit mark in Thailand,” he said. “The Thai auto market grew by 19.2 per cent last year due to the economic stimulus measures from the government that helped raise the GDP level to 4.2 per cent,” Sugata said.

He said this year the market should also reach a million units, “due to clear and ongoing government investment projects, which help stimulate investment from the private sector, as well as introduction of new models into the market.”

Toyota remains Thailand’s largest automaker, and in total sold a combined 315,113 vehicles in 2018 (up 31.2 per cent), followed by Isuzu with 177,864 units (up 10.8 per cent) and Honda with 128,290 units (0.4 per cent).

Toyota is also the largest auto exporter from Thailand. Last year it shipped out 293,940 CBU vehicles worth over Bt154.5 billion (down 1.8 per cent) along with OEM and parts worth over Bt119.2 billion. Thailand is one of the largest production hubs for Toyota worldwide – in total, the company produced 588,939 vehicles in Thailand last year for both the domestic and export markets.


Countdown begins for October 31 shutdown of 2G service

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation


Countdown begins for October 31 shutdown of 2G service

Tech January 23, 2019 01:00

By Sirivish Toomgum
The Nation

The National Broadcasting and Telecommunications Commission (NBTC) yesterday approved the three major telecom operators’ plan to pull the plug on their 2G cellular service at the same time – 11.59pm on October 31.

The three operators are Advanced Wireless Network (AWN) of Advanced Info Service (AIS), DTAC TriNet (DTN) of Total Access Communication (DTAC), and TrueMove H Universal Communication (TUC) of True Corp.

After the board meeting, NBTC secretarygeneral Takorn Tantasith said that as of this month there were some 4.9 million subscribers to 2G service, of whom 1.9 million are with AWN, 2 million with DTN, and around 950,000 with TUC.

In December last year, the number of 2G subscribers stood at around 5.2 million, of whom 2 million were with AWN, 2.2 million with DTN and 1 million with TUC.

The state telecom agencies TOT and CAT Telecom do not operate 2G services.

The NBTC will ask the telecom operators to submit for its approval their plans for public campaigns in the leadup to turning off the 2G service.

Takorn said the shutdown is part of the country’s move to develop the 5G service, which NBTC aims to get off the ground in 2020. He said the watchdog is expected to auction the 700MHz licence for 5G in May.

New Sansiri, GSB product offers home loan, retirement financing in one package

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

New Sansiri, GSB product offers home loan, retirement financing in one package

Real Estate January 21, 2019 19:34

By The Nation

2,834 Viewed

Listed property developer Sansiri has joined hands with the Government Savings Bank (GSB) to launch HomeForLife, a mortgage product that offers consumers home ownership and retirement financing plans in one combined package.

The new home loan, offered on the unique proposition of getting approved more easily, paying lower monthly instalments and receiving monthly retirement income, has been developed to capture the real needs of smart consumers who wish to plan for financial security throughout their lives, Sansiri chief financial officer Wanchak Buranasiri said after signing an agreement with the GSB on Monday.

The company expects the new product to result in 50 per cent more Sansiri customers applying for a loan from the state-owned bank, he added.

Sansiri realises the growing trend of financial planning for long-term security among consumers, Wanchak said.

In Thailand, long-term financial planning has been a growing consumer trend during recent years.

According to the Foundation of Thai Gerontology Research and Development Institute, up to 55 per cent of Thais aged 25 to 55 are increasingly taking serious steps in retirement financing plan.

GSB’s president and chief executive officer Chatchai Payuhanaveechai said HomeForLife represented a new financial innovation jointly developed for the first time by a real-estate developer and a financial institution based on insight into smart consumers who are keen about financial planning.

“We believe that this financial innovation will become a new alternative and important tool to help today’s working people make long-term financial planning efficiently. GSB can also approve loans more easily with secure equity, as well as promote reverse mortgages and other loan products to wider target consumers,” the bank’s chief added.

LPN prepares for rough year ahead

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation


LPN prepares for rough year ahead

Real Estate January 21, 2019 01:00


2,336 Viewed

LISTED PROPERTY firm LPN Development Plc plans to issue debentures worth Bt4 billion to manage its financial costs as interests rise, the company’s chief executive officer and managing director, Opas Sripayak, said recently.

“Our debenture issue will reduce our financial cost from the average 4 per cent over the last year to 3.5 per cent this year, to help us keep financial costs healthy so as to allow for business expansion this year,” he said

Following the debenture issue, the company will spend to acquire land worth up to Bt4 billion this year, in order to launch 16 new residential projects worth a total of Bt20 billion in 2019.

Ten projects, worth Bt12 billion, will be condominiums and office buildings for sale, with the next Bt8 billion for developing single detached and townhouse projects.

“Our business strategy this year is to expand to all market segments to serve customer demand and to reduce the impact from our business risk, including interest rates rising, the Bank of Thailand [BOT] measure to restrict mortgage loans for second and third homes, and the drop in purchasing power to buy residential from both domestic and foreign investors,” he said.

This is a hard year for property firms to develop residential projects, Opas added. The demand to buy residential property will be limited following the BOT restriction on second and third homes. As well, there has been a drop in purchasing power for the lower-income market.

Given the hard period it faces, the company’s policy this year will be to control its management costs and to keep staffing levels to below 2,000, Opas said.

“We will not lay off our staff, but if a staff resigns we have no plan to recruit a replacement. However, we will expand our investment to develop our Big Data and digital systems to support our business, and to create business performance to compete with other property developers,” he added.

Following the market trend, LPN Development Plc has increased the sales for the middle market, with units priced between Bt2 million and Bt5 million accounting for 70 per cent of its portfolio. The next 20 per cent will target the premium market at prices above Bt5 million, and the remaining 10 per cent will be aimed at the lower-income market with prices under Bt2 million per unit.

The company also increased its income from recurring income from last year’s 2 per cent, to 15 per cent of total revenue this year, by focusing on rental residential and its service business, Opas said.

With that market strategy, the company expects to achieve Bt16 billion presales this year, up 6 per cent from presales of Bt15 billion last year.

The company also targets total revenue of Bt13.5 billion this year. Of this year’s revenue target, Bt12 billion will come from residential sales, and the remaining Bt1.5 billion from recurring income including residential for rental and its service business, he said.

Currently, the company has a total backlog worth Bt9 billion, with condominiums accounting for Bt6 billion, and the next Bt3 billion from single detached houses and townhouses.

The company also has a Bt7-billion inventory for sale. They will boost total revenues to achieve the target by the end of this year, he said.

Top-3 Japanese real-estate firm Pressance makes its presence known in Thailand

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Top-3 Japanese real-estate firm Pressance makes its presence known in Thailand

Real Estate January 21, 2019 01:00


2,525 Viewed

JAPAN-BASED Pressance Corporation Co Ltd, a top-three developer of condominium projects in Osaka and other Japanese cities, has expanded its business to Thailand, where it holds a 25-per cent stake in a joint venture firm with Shinwa Real Estate (Thailand) Co Ltd and Prebuilt Plc.

They will this year develop their first condominium project in Thailand, Ren Sukhumvit 39, worth Bt2.5 billion.

“Thailand was the second country in Asean where we have invested in a condominium project after our expansion to Vietnam last year,” Pressance Corporation Co Ltd’s manager of business development, Tatsuya Nakae, said in a recent interview with The Nation.

He sees great potential in developing condo projects in Thailand, due to the country’s heavy investment in infrastructure. The rapid expansion of mass-transit rail projects in the country’s major cities, is a particular inducement for residential developments close to the routes.

“We entered Thailand by setting up a joint venture with our Japanese partner, Shinwa Group, which had expanded their presence to Thailand in 2017.This boosted our confidence with our investment in the country,” he said.

Since their first project, Ren Sukhumvit 39, Nakae said the company has continued its interest in further investment in Thailand with its partner, Shinwa Group. Decisions will be based on market demand.

Tomoyasu Yamabe, director of Shinwa Group and managing director of Shinwa Real Estate (Thailand) Co Ltd, says the company is following a business plan to invest Bt8 billion in Thailand in 2019 and 2020, and may ask Pressance Corporation to become a partner.

Pressance Corporation Co Ltd developed 5,200 condominium units in Japan last year and has recorded total sales above Bt30 billion yearly.

Pressance is the latest property firm from Japan to have expanded its investment into Thailand.

Thai developers hook up with JAPANESE PEERS

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Thai developers hook up with JAPANESE PEERS

Real Estate January 21, 2019 01:00


2,813 Viewed

LISTED AND non-listed property firms in Thailand have entered into joint ventures with their Japanese peers since 2013, developing residential projects worth more than Bt266.23 billion to date, and allowing Japanese firms to invest in Asean countries through Thailand as the gateway.

According to a recent survey by The Nation, 10 listed and non-listed property firms had set up joint ventures with Japanese property firms to develop residential projects in Bangkok. The latest joint venture has SC Asset Corporation Plc shaking hands with Nitshitetsu Group from Japan, to create SCNNR1 Co Ltd with a registered capital of Bt1.2 billion. They are planning their first condominium project, The Crest at Lat Phrao district.

“We decided to team up with the Japanese firm to improve our residential project design and construction process to the Japanese standard,” SC Asset Corporation Plc’s chief executive, Nattapong Kunakornwong, said recently.

The Nation survey found Ananda Development Plc the first Thai property firm to have entered into a joint venture with a Japanese developer, Mitsui Fudosan, in 2013. Since then, they have developed 26 residential projects together with a total project value of Bt120 billion. Most have achieved success with sales averaging 60 per cent and more, and one development, ideo Q Chula-Samyan, has already sold out and will this year transfer units to its customers.

The second co-venture unites AP (Thailand) Plc and Mitsubishi Estate Group, which have since 2014 built 14 condominium projects worth Bt65.42 billion (for other co-ventures, see graphic).

“We learned how to design space and improve the construction process from our Japanese partner, boosting our know-how in creating differentiated products to serve our customers’ demand,” AP (Thailand) Plc’s chief executive, Anuphong Asavabhokhin, said recently.

Meanwhile, Japanese firms who have expanded their investment to Thailand see it as an opportunity to expand to Asean countries. However, they are particularily interested in Thailand, which is aggressively investing in the development of its infrastructure, including the rail system.

Tomoyasu Yamabe, managing director at Shinwa Real Estate (Thailand) Co Ltd, a joint venture firm between Japan-based Shinwa Group and its Thai partner, said the company began expanding to Thailand three years ago.

A joint venture with Woraluk Property Co Ltd in 2017 led to their first condominium project, Runesu Thonglor 5, worth Bt1.2 billion. All units in the project will be transferred to buyers this year.

Yamabe, who is also a director of Shinwa Group, says the company is now planning to sell its construction technology in the Philippines, Vietnam, Malaysia, Indonesia, Taiwan, Hong Kong and Singapore.

“We see strong demand for residential unit in the region. Asean countries are expanding their investments in infrastructure projects, especially the rail systems, which will change people’s lifestyles as they move to locations close to mass transit routes.

“This creates a new market and opportunity to expand our investment in this region, where we plan to develop residential projects located close to the rail systems,” he said.

“Although Thailand will hold a national election this year, it will not impact on our business expansion in the local market. We still see strong demand and the potential to expand our business in this country,” he said.

Japan-based Tokyu Corporation’s director and senior managing executive officer, Toshiyuki Hoshino, says the group’s joint venture with Sansiri Plc will see spending of as much as US$100 million yearly between 2018 and 2020.

The firms shook hands last year, enabling expansion through Thailand and on to Asean neighbours with a focus on the residential property sector. Half of the three-year budget will be invested in Thailand with the rest in Vietnam, said Hoshino adding that the company’s focus would later expand to other countries in the region.

“We will expand our investment in Asean, especially Thailand, when we see business opportunity as countries expand their investment in infrastructure development, especially rail systems. A mass-transit network creates strong demand for residential units along the routes,” Hoshino affirmed.

Thailand is clearly seen by the Japanese investors as the gateway for entry into the Asean property market. Japan-based Sumitomo Forestry Co Ltd’s president, Akira Ichikawa, said Thailand’s central location in the region encouraged his company to kick off its first regional project in the kingdom.

It set up a joint venture firm with Grande Asset Hotels and Property Plc and Property Perfect Plc last year. The company will later expand its investment to other Asean countries, focusing on developing residential projects, Akira said.

The company invested in a packaging manufacturing plant in Thailand two years ago, and was attracted to the residential property market by the Thai government’s programme for infrastructure development.

Demand for residences in Thailand remain strong among both locals and foreigners, he said.

Foreign visitors increasingly use Airbnb during major tourism events

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation


 Foreign visitors increasingly use  Airbnb during major tourism events

Tourism January 21, 2019 18:17

By The Nation

2,821 Viewed

New data shows that travellers to Thailand are increasingly turning to Airbnb for accommodation during big tourism events, according to a report released by the hosting company on Monday.

Last year, Thai Airbnb hosts welcomed more than 100,000 guests and earned Bt380 million combined over three of the Kingdom’s largest tourist events: Chinese New Year, Songkran and Golden Week.

Family travel made up a significant proportion of all bookings during these periods, comprising about 15 per cent of the total.

As Thailand gears up for Chinese New Year with the Tourism Authority of Thailand’s anticipated 8-per-cent increase in traveller numbers this year, more Thais are listing their homes with Airbnb to welcome local and international guests for this auspicious holiday.

“By opening their homes to guests from around the world, our local Airbnb hosts are being the best ambassadors for their community, while pursuing their passion for hospitality and earning supplemental income on the side. There’s never been a better time to start hosting with Airbnb,” said Mike Orgill, US-based Airbnb’s general manager for Southeast Asia, Hong Kong and Taiwan.

During last April’s Songkran alone, Airbnb hosts welcomed more than 45,000 guests from 3,120 cities.

This tied in with Airbnb’s first-ever launch of unique “Songkran Special” Airbnb Experiences, where guests could book Experiences such as a traditional Thai Songkran ceremony with a Sak Yant master.

There was an almost 50-per-cent increase in guest arrivals year over year during Thailand’s most celebrated and respected festival, with an average of 2.7 guests staying in an Airbnb listing over three nights.

Hosts collectively earned over Bt95 million over just six days.

Thailand ranks as one of the top most popular outbound destinations among China outbound travellers on Airbnb.

Over Golden Week in October, Bangkok and Chiang Mai featured in the list of top 10 outbound city destinations for China guests, with Bangkok-Chiang Mai being one of the most popular air-travel routes in the region.

Guests from China also stayed longer than ever before – the average booking during Golden Week comprised 2.5 guests over four nights, up from three nights in 2017.

Their top-booked destinations included Bangkok, Phuket, Chiang Mai, Chon Buri and Surat Thani.

Scania urges Thailand to increase emission standard for heavy-duty vehicles

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Scania urges Thailand to increase emission standard for heavy-duty vehicles

Breaking News January 23, 2019 15:40

By The Nation

Scania has called for the Pollution Control Department to increase the emission standard for heavy-duty vehicles in Thailand from the current Euro 3 standard to Euro 6 as a means to fight with the ongoing air pollution in Bangkok.

In its press release, it said an increase to Euro 6 would effectively decrease the emission of PM and NOx by 90%.

“A higher emission standard requirement and the resulting reduction of air pollution would not only give the citizens of Bangkok cleaner air to breathe and improved health to enjoy, it would also improve the impression of the city in the minds of the 20 million tourists visiting every year.”

It would also show that Thailand is serious about its quest to be recognized as the automotive hub of Asia.

Other Asian countries have already recognized the urgency to improve the air quality and are increasing their emission standards rapidly.

According to the statement, India for example plans to introduce its local version of Euro 6 (BS 6) next year and so is China (China 6a).

South Korea and Singapore have already implemented Euro 6 and this has already been the standard for new vehicles in Europe since 2013.

“Now Thailand has an opportunity to take part in this proactive movement and set a short and clear timeline for the introduction of Euro 6 emission standard in the Thai transport sector.”

Of course, there is a cost to a technology shift like this. The vehicles are more expensive and the refineries need upgrading to lower the sulfur content of diesel below 10 ppm.

However, with less air pollution the private and societal health care cost can be expected to decrease.

The Nation reported that according to a study from Kasetsart University on pollution-related health costs in 2017, every microgram of PM10 beyond the safe limit cost the people of Bangkok up to Bt18.42 billion in medical expenses.

In addition to that, the worth of increasing the lifespan of the people is invaluable. The Thai government could use subsidies, scrap-page scheme, tax and other financial control means to support the shift and see this as an investment in the people’s future health. Furthermore, improved export opportunities and innovation reputation for Thailand, are also positive effects that can be expected.

“At Scania we have set our strategy to lead the shift to a sustainable transport system and we are hoping to collaborate with the Thai government and relevant industry players to drive this shift together in Thailand and thereby improve the quality of life for the citizens of this beautiful country.”

Global Power Synergy set to grow power and utilities

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation


Global Power Synergy set to grow power and utilities

Corporate January 23, 2019 01:00


GLOBAL POWER Synergy Corporation (GPSC)’s share price rose 1.30 per cent to close at Bt58.25 yesterday after it said it would purchase a 250-megawatt energy recovery unit from Thai Oil Plc (TOP) for no more than Bt24.11 billion.

Chawalit Tippawanich, president and chief executive for PTT’s power arm, GPSC, said that its board on Monday agreed that either the company or a yet-to-be-established subsidiary, would purchase the energy recovery unit in a deal worth no more than Bt24.11 or about $757 million.

The unit is part of TOP’s capacity expansion project, Clean Fuel Project (CFP).

The unit is expected to be completed and receive a provisional acceptance certificate to start commercial operation in the third quarter of 2023.

“The deal follows the company’s business strategy focusing on expansion of investment” to grow with its parent company, PTT. It would give an opportunity to GPSC to extend its power and utilities business and invest for future power security, Chawalit said.

Contract signing by GPSC or its subsidiary is expected after approval from a shareholders’ meeting scheduled within this April. The company will use its cash and/or other sources of funds, such as borrowings from financial institutions, to finance the deal.

The energy recovery unit will use oil sludge from the CFP to produce power and steam for the project. The unit has power production capacity of 250 megawatts and steam production capacity of 175 tonnes per hour.

The CFP is a part of TOP’s five-year $4.825 billion (Bt153.5 billion) investment plan (2019-2023) to improve the refinery, upgrade fuel oil to jet oil and diesel, and increase the refining capacity to 400,000 barrels per day. TOP’s current refining capacity is 270,000 barrels per day.

TOP is expected to finance $1.37 billion for the CFP in the first quarter of this year.

Presently, the company’s fuel oil accounts for 7 per cent of the total. In the future, jet oil and diesel will rise to 70 per cent from the current 60 per cent, while gasoline will decline from the current 15 per cent following future higher demand for electric vehicles.

GPSC currently has a combined power production capacity of 1,530 megawatts and steam production capacity of 1,512 tonnes per hour. This year, its power production capacity will rise to 1,940 megawatts after the Nam Lik power plant and Xayaburi power plant in Laos, and the Central Utility Plant 4 in Rayong province commence their operations.

GPSC also gained a conditional approval from Thailand’s Energy Regulatory Commission for its merger plan with Glow Energy Plc, which is majority-owned by France’s Engie. The approval comes with the condition that Glow will have to sell its Glow SPP 1 Co Ltd. before the merger.

Cryptomining and mobile threats top security risks

Published January 23, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation


Cryptomining and mobile threats top security risks

Corporate January 23, 2019 01:00


CRYPTOMINING is the top cyberthreat to organisations globally, according to Check Point, a cybersecurity software company.

The firm expects to generate double-digit revenue growth by the end of this year, as it helps companies protect their assets. Banks, financial companies and government are their main target markets in Thailand.

Check Point Software Technologies has launched the first instalment of its 2019 security report. And the Southeast Asia regional director, Evan Dumas, notes the global cybersecurity solutions firm’s report highlights the main tactics that cybercriminals are using to attack organisations and industries worldwide.

Executives also need to protect their organisation from fifth-generation cyberattacks and threats, says Dumas. An unprecedented level of cyberattacks are playing out as large-scale, multi-vector mega attacks that inflict major damage on businesses and their reputations.

But the key malware trends and techniques observed in 2019 are cryptominers or cryptomining, mobiles, multi-purpose botnets and ransomware, says Dumas.

Cryptomining, which dominated the top-four most prevalent malware types and impacted 37 per cent of organisations globally in 2018, remains the most common threat in 2019.

Meanwhile, mobiles are a moving target for cyberattacks. Around 33 per cent of organisations worldwide were hit by mobile malware, with the leading three malware types targeting Android OS, the report notes. Multi-purpose botnets were the third most common malware type, with 18 per cent of organisations hit by bots, which are used to launch distributed denial-of-service (DdoS) attacks and spread other malware.

Last is ransomware, which impacted just 4 per cent of organisations globally.

To solve cyberthreats in organisations, the firm also provides cybersecurity solutions such as Maestro, which is the first hyper-scale network security solution. It is said to enable businesses of any size to enjoy the power of a flexible cloud-level security platform to protect their customers from fifth-generation cyberattacks from malware and ransomware, along with other targeted attacks.

“I think that Thailand rates in the top two for the security market, behind Singapore. Thailand also has a high potential for growth in the mid-market for cybersecurity,” said Dumas. The firm has appointed Yuvaluk Saenque as the first Thailand country manager, and expects to generate double-digit growth in the Kingdom, mainly through targeting banks, financial institutions and government.

%d bloggers like this: