Thitikorn sees Bt10-bn in hire-purchase loans

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Thitikorn sees Bt10-bn in hire-purchase loans

Corporate April 04, 2018 01:00

By The Nation

HIRE PURCHASE firm Thitikorn Plc expects its loan total reaching Bt10 billion this year, the company’s director Prapol Phornprapha said yesterday.

Of the Bt10-billion target, up to Bt9 billion are expected to come from the domestic market, with the rest form overseas markets such as Laos and Cambodia.

This will drive up the company’s total revenue by 10 per cent this year, from the total of Bt3.65 billion and Bt466.94 million in net profit last year.

In 2017, total revenue and net profit increased by 8.3 per cent and 8.6 per cent respectively from the previous year.

Meanwhile, the company expects to receive a licence for operating micro finance business in Myanmar in the first half of this year.

The company also plans to enter the Vietnamese market through new investment or acquisition of local hire purchase business in the country.

“We plan to open ten new branches this year, five of them will located in Thailand, three in Cambodia, and the last two in Laos,” he said.

He said the company will expand its investment overseas, especially in Asean countries, when demand for hire purchase grows.

Overseas income

Currently, up to 95 per cent of its total revenue come from the domestic market, with overseas operations accounting for a mere five per cent.

However, the company expects its revenue from overseas to account for 50 per cent of its total revenue in the year 2020, following the expansion of its investments in Asean, mainly in CLMV countries (Cambodia, Laos, Myanmar, and Vietnam).

After aggressive investments this year and 2019, the company’s investment budget will come from its initial cash flow and loans from commercial banks. The company currently has a credit line of Bt4 billion.

It also plans to issue Bt1 billion in debentures in the second half of this year. The company issued debentures worth Bt600 million in the first quarter of this year.

Prapol said the demand for hire purchase for motorcycles in the first quarter of this year grew by one per cent from the same period last year when most customers delayed their purchases.

However, he is confident the market will improve in the second quarter of this year.

True to spend Bt3.6 bn on Asia cable project

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Supoj
Supoj

True to spend Bt3.6 bn on Asia cable project

Corporate April 04, 2018 01:00

By Sirivish Toomgum
The Nation

TRUE Corp group will spend around Bt3.6 billion on its co-investment with other members of the Southeast Asia – Japan 2 consortium (SJC2) to build a high-performance submarine cable that will connect Thailand with eight markets spanning Singapore to Japan.

The move is aimed at further strengthening the company’s international connectivity capacity and its overall telecom services offering.

The other countries and territories to be connected to the submarine cable are Cambodia, Vietnam, Hong Kong, Taiwan, mainland China and South Korea.

The consortium, in which True is one of nine members, last month signed an agreement with NEC Corporation to build the submarine cable. For True’s commitment, the company will spend about Bt3.6 billion on the network investment, said Supoj Mahapan, True’s managing director of international carrier and alliance management.

The construction of this intra-Asian network will begin this year and is expected to be completed by the fourth quarter of 2020. The network lifespan is at least 25 years.

The SJC2 members are China Mobile International, Chunghwa Telecom, Chuan Wei, Facebook, KDDI, Singtel, SK Broadband, True Group, and VNPT.

The 10,500-kilometre cable has links to 11 cable landing stations in the region. The cable will feature up to eight pairs of high-capacity optical fibre with initial design capacity of 144 terabits per second, roughly the equivalent of simultaneously streaming 5.76 million ultra-high definition videos per second.

The True investment will enable it to utilise 9 terabits per second capacity on this planned network out of the network’s total capacity of 144 terabits per second.

The higher capacity will allow True group to support high bandwidth intensive requirements such as video streaming, higher definition video, 5G, virtual reality applications, artificial intelligence, cloud services, analytics, robotics and the Internet of Things.

“The SJC2 submarine cable project is another significant step of True Group in building key infrastructure for True Group and Thailand,” Vichaow Rakphongphairoj, True group co-president, said yesterday. “It is our ongoing commitment to support the government’s policy in relation to the nation’s economic development.”

He said the submarine cable is one of several projects that will enhance Thailand’s international connectivity and support the government’s digital economy policy. The cable is deploying state-of-the-art technology and its high capacity will truly enhance True’s position as market leader in mobile and fixed broadband internet, Vichaow said.

Supoj added that the SJC2 network will add network diversity to Thailand. Currently, more than half of Thailand’s Internet traffic is routed via land cables in Malaysia and Singapore.

PORT JV deal for jetty

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PORT JV deal for jetty

Corporate April 04, 2018 01:00

Sahathai Terminal Plc and Bangkok Barge Terminal Co Ltd have signed a contract to operate a jetty with Ocean Network Express – a new global shipping line from the merger of the three largest Japanese shipping companies, namely MOL, “K” LINE and NYK, Kiyoshi Tokonami Managing Director Ocean Network Express (Thailand) said.

Saowakhun Karujit, Chief Executive Officer of Sahahai Terminal Plc (PORT), said that the company is confident of its strategy to create a full-fledged port and logistics business. With new customers, the company now has more than 10 international shipping lines for its berths and related services such as container loading and unloading, container maintenance service, transportation service by land as well as water and warehousing services. Therefore, we can meet the needs of all customers completely, he concluded.

OUT-OF-HOME MEDIA VGI set for expansion in Malaysia

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OUT-OF-HOME MEDIA VGI set for expansion in Malaysia

Corporate April 04, 2018 01:00

By The Nation

VGI Global Media Plc (VGI) will expand its out-of-home media business to Malaysia after the acquisition of a 25.1 per cent holding in Meru Utama Sdn Bhd – the airport media service provider at major airports as well as airports for low-cost airlines in Malaysia, under its business expansion plan in Asean.

The company’s deputy chief executive officer Nelson Leung said that VGI planned to consistently expand its out-of-home media business in Malaysia after receiving a 10-year management rights of the advertising space on 31 stations and 58 trains along the Sungai Buloh-Kajang (SBK) Line in Malaysia.

VGI Global Media (Malaysia) Sdn Bhd or VGM, a subsidiary established in Malaysia, has acquired a 25 per cent in Pancak Berlian Sdn Bhd, the out-of-home media operator with a variety of advertising media such as mass transit, office buildings, outdoor advertising, airports, and department stores.

JOINING FORCES Programme for deep technology

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JOINING FORCES Programme for deep technology

Corporate April 04, 2018 01:00

By The Nation

In encouraging national competitiveness enhancement and innovation, Digital Ventures, the Fintech investment and development subsidiary of Siam Commercial Bank, has announced a new programme , “U.REKA”, to nurture skills and knowledge in deep technology, from upstream to downstream, through cooperation with seven leading universities, Microsoft and Knowledge Exchange (KX).

The key project partners in this research and development incubating programme are

Chulalongkorn University, Kasetsart University, King Mongkut Institute of Technology Lad Krabang, King Mongkut’s University of Technology Thonburi, and King Mongkut’s University of Technology North Bangkok, Thammasat University, and Chiang Mai University, The Knowledge Exchange and Microsoft Thailand, Orapong Thien-Ngern, Chief Executive Officer, Digital Ventures Co Ltd said.

The project encourages lecturers, students, researchers and those interested in advanced technology to join forces as a startup enterprise and initiate new ideas in developing deep technologies, such as Artificial Intelligence (AI), Blockchain, Clouds and Security, Big Data / Internet of Things, Virtual Reality (VR) / Augmented Reality (AR), and Quantum Computing, into innovations. These advanced technologies will enhance the development of key industries, starting with retail, tourism / travel and financial services. These ideas can be turned into actual products and services in the market, he said.

Dusit International introduces ASAI Hotels brand for ‘millennial-minded’ travellers

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Siradej Donavanik, Managing Director of Asai Holdings Co Ltd, Dusit International
Siradej Donavanik, Managing Director of Asai Holdings Co Ltd, Dusit International

Dusit International introduces ASAI Hotels brand for ‘millennial-minded’ travellers

Corporate April 03, 2018 18:30

By The Nation

Dusit International, one of Thailand’s foremost hotel and property development companies, has introduced ASAI Hotels, a distinctive new brand designed to link “curious, millennial-minded travellers” with authentic local experiences in vibrant cities and resort destinations worldwide.

Set to officially launch in the opening quarter of next year with its first hotel in Bangkok’s renowned Chatuchak Market, ASAI Hotels embraces a sustainable, community-focused concept, with each property designed to reflect the culture and heritage of its location through collaborations with local artisans.

In line with the four core pillars of the brand – Thoughtful Essentials, Common Areas, Locally Inspired and Connected Community – each hotel will feature compact rooms of around 15 square metres, whose contemporary design will emphasise key features like superior-quality beds and high-pressure rain showers.

A large mixed-use space, meanwhile, will include a cosy and efficient work space, a leisure area, and a restaurant concept curated by local chefs who champion sustainability, the company said on Tuesday.

Alongside ASAI Chatuchak, five more properties are already confirmed in the pipeline.

This includes three ASAI Hotels in Cebu, in the Philippines – in Lapu-Lapu, Oslob and the city centre; one hotel in Yangon, in the historic Yankin township of the former Myanmar capital; and a second hotel in Bangkok, in the stylish Sathon district.

All are expected to open next year.

ASAI Hotels’ management team hopes to secure over 10 properties in the pipeline by the end of the year across Southeast Asia and Japan.

This includes owned and joint-venture properties, as well as properties under hotel-management agreements.

Australia, Europe and Central America are also on the radar for potential projects.

ChargeNow partners expand service network to further strengthen electric mobility

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ChargeNow partners expand service network to further strengthen electric mobility

Corporate April 03, 2018 18:07

By The Nation

ChargeNow partners – including BMW Group Thailand, Polytechnology, Greenlots, Central Group and AP (Thailand) – have teamed up in expanding the ChargeNow network of public charging stations for electric vehicles and plug-in hybrids, with new stations in the heart of Bangkok at CentralWorld, Gaysorn Village and SO Sofitel Bangkok.

The three new locations represent a continuation of the programme following the launch of the first two locations at Crystal Design Centre and Terminal 21, and a joint effort to carry forward the commitment to drive the development and adoption of electric mobility in Thailand.

Christian Wiedmann, president of BMW Group Thailand, said on Tuesday: “BMW Group Thailand and ChargeNow partners are committed to drive Thailand towards a full-fledged electric society. We now plan to work closely with ChargeNow and our authorised BMW dealers to install 100 charging stations across the country to facilitate and simplify the charging process and eventually pave the way to a sustainable low-carbon environment.

“BMW Group Thailand, as a member of the Electric Vehicle Association of Thailand, is also actively working with the association and the Strategic Alliance Network within the EVAT Charging Consortium to jointly develop Thailand charging stations’ network for the ultimate benefit of PHEV [plug-in hybrids] and BEV [battery electric vehicles] users in using the charging service at all charging stations available in every network that carries similar standards and operates in a standardised service system.

“We aim to support an entirely new collaboration model in order to help PHEV and BEV users in using card, QR code or other equipment to charge their vehicles at any network for the users’ own benefits,” the group president said.

“The charging process is now even more convenient with the Greenlots app for smartphones. After downloading the app via App Store for iOS or Google Play for Android, customers can then register using a ChargeNow card number provided upon the purchase of BMW iPerformance vehicles,” he added.

“The Greenlots app provides essential information – including the location and status of each charging station, status notification during charging sessions, and access to ChargeNow account settings such as adding or removing a vehicle from the account.”

Apart from the installation of charging stations for up to six electric and plugin-hybrid vehicles at CentralWorld, ChargeNow stations are also planned to be installed at 12 more locations across Central Group properties – including CentralPlaza, CentralFestival and Robinson malls.

McThai names Thai kids as Player Escorts for FIFA World Cup in Russia

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McThai names Thai kids as Player Escorts for FIFA World Cup in Russia

Corporate April 03, 2018 17:47

By The Nation

Hester Chew, chairman of the executive committee and CEO of McThai, and marketing director Phornphan Madhurapojanakul on Tuesday presented awards to the two Thai children chosen to be “McDonald’s Player Escorts” at the upcoming World Cup tournament.

Aomsin Nutchaya Phoungjeen and Frong Thanakorn Yaowarat will be part of the opening-match proceedings at the “2018 FIFA World Cup Russia” in June, walking onto the pitch hand-in-hand with their footballing idols, together with other children from around the world.

Mazars enhances digital services via partnership with HReasily

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Mazars enhances digital services via partnership with HReasily

Corporate April 03, 2018 17:33

By The Nation

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Mazars Thailand, an international, integrated and independent organisation specialising in audit, accountancy, tax, legal and advisory services, on Tuesday announced a partnership with Singapore-based HReasily, which provides a human-resources solutions platform across Asia.

In its ongoing effort to improve client services, Mazars Thailand set out to find a comprehensive HR business that could serve clients of all sectors and sizes in one place, and the perfect partner to develop such solutions was found in HReasily.

The partnership allows Mazars Thailand – whose parent company, Mazars, is based in France – to introduce cloud-based HR-compliance and payroll solutions on a single platform to both Thai and regional markets.

The Thai company described the new relationship with HReasily as “a synergistic one with multiple benefits”, including:

– Efficiency: The ability to provide an HR management system that offers payroll services as well as managing the employee database, new hires, leavers, leave, timesheets, expense claims and document storage.

– Multi-country coverage: It enables Mazars to provide regional payroll services on a single platform, covering Thailand, Singapore, Hong Kong, Malaysia, Indonesia, the Philippines and Cambodia.

– Ease of use: Payroll reports, statutory returns, pay slips and leave information will be available to the client and its employees online or via a mobile application.

– Seamless integration: HReasily is seamlessly integrated with Xero accounting software; output is recorded as an accounting entry each month and posted directly into Xero.

With the recent government initiative to bolster small and medium-sized enterprises in 10 provinces via a Bt3.81-billion pilot project, there is a strong demand for human-resources solutions that are flexible enough to accommodate growth and expansion, both within Thailand and regionally, Mazars Thailand said.

This new collaboration offers an agile technology platform that will enable SMEs to adapt as their workforce grows, the company added.

TCC Tech joins in UTCC multilateral pact to develop digital technology education

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TCC Tech joins in UTCC multilateral pact to develop digital technology education

Corporate April 03, 2018 16:49

By The Nation

Voradis Vinyaratn, executive director and acting managing director of TCC Technology, on Tuesday joined leading figures from the University of the Thai Chamber of Commerce (UTCC) and 10 corporations in signing a memorandum of understanding on developing technology education in Thailand.

The goals of the MOU – titled “Digital Human Development in Digital Business and Services (Cooperative Education)” – include creating innovation, encouraging creativity, and supporting the readiness of students to fulfill industry demand in accordance with national “Trade and Service 4.0” initiatives.

The UTCC is the only Thai university that requires first-year students to complete a “Digital Innovation Thinking and Coding” course.

Assoc Professor Sauwanee Thairungroj, president of the university and teaching professor, said the UTCC is the leading institute in the business, trading and service industries.

The main mission is to function as a practice-university in providing the knowledge and skills necessary to students in every faculty, she said.

Graduating students possess entrepreneurial skills and can apply digital technology-related innovation to business. UTCC sees this skill base, which it refers to as IDE (innovation-driven entrepreneurship), as a potential driving factor in developing the national economy, she added.

TCC’s Voradis said: “The competencies and capabilities of today’s graduates do not fulfill the current aggressive demands of our growing market. There is a lack of ‘industry linkage’ between industry and educational systems. This is a very critical time for students to equip and leverage themselves with industry needs.

“With readiness under our specialised domains within our ecosystems of data centres, connectivity and computing resources, TCC Technology Group is privileged to be a part of this exciting joint-programme.”