Festival-goers are invited to pay respect to the replica Buddha statues from well-known temples, receive a Lanna-style blessing for good fortune, water the Buddha statue representing their birth day of the week, watch exciting Lanna-style performances, beat the heat of the day at the mobile water park and attractions, enjoy fun games at a traditional temple-style fair and win authentic Thai prizes – all for free from April 12-15 at Megabangna.

For this year’s Songkran festival, Megabangna is all set to offer happiness by bringing exotic ancient Lanna to the city under the concept “Mega Splash…Mega Lanna Happiness”.

The whole shopping centre will be extravagantly decorated with Tung – a northern-style flag – and Yi Peng, a northern-style lantern, to set the stage for the special event.

Activities are divided into the Sook Jai Zone, located at the main entrance, where every family can take pleasure from inheriting the Thai New Year tradition by paying respect to the replicated Buddha statues, such as the Lanna-style Phra Buddha Sihing.

Shoppers can also water the Buddha statue representing their birth day of the week, and should not miss the chance to see exciting and rare Lanna-style performances such as the Sabatchai Drum Dance and Jeng Dance – an elegant and exhilarating dance created from the ancient Thai martial arts – and the Sword Dance.

In addition, get ready to splash away all the summer heat at the Sard Sanook Zone, located at Mega Plaza, where everyone can enjoy all-day cooling off at the mobile water park, well-equipped with its giant water slide and water tunnel.

Last but not the least, reminisce the retro fun with a traditional temple fair that offers myriad food and snacks from your memory, such as old-fashioned ice pops and soda, cotton candy, sugar-candy sculptures, and shaved ice.

And be sure to top up all the fun with carnival games like shooting, balloon and dart, hoop-throwing and dunk-tank girl.

The Board of Directors of Ticon Industrial Connection Plc (TICON) has announced a transition in the company’s management – after the departure of Virapan Pulges, chief executive officer (CEO) on March 31, that Sopon Racharaksa, president, has taken on the additional role of acting CEO, effective on the same date.

Board chairman Chainoi Puankosoom expressed his full appreciation to Virapan for his dedication and contribution to Ticon’s success.

Under his leadership, Ticon had maintained its unbroken record of full-year profitability, it continued to grow its logistics and industrial portfolio to over 2.7 million square metres and led the sector in winning the Gold Leed green-sustainability awards.

He also guided the merger of Property Funds (TLOGIS, TFUND and TGROWTH) with Ticon’s Real Estate Investment Trust (TREIT) to form the largest logistics and industrial REIT in Thailand.

Sopon is an industry veteran and a worthy leader. With 7-years of experience in the Thailand Board of Investment and senior leadership in real estate development sector, he led Ticon’s transformation strategy, ranging from driving up asset management capability, portfolio occupancy rate, securing new built-to-suits customers, introducing new development techniques from Frasers Property Australia.

BASE, Physique 57 join forces in Sathorn

BASE has partnered with New York’s Physique 57 to create Bangkok’s most exciting fitness destination in Sathorn

BASE, the fitness studio that’s taken Bangkok’s industry by storm, has expanded with a second branch conveniently located in the heart of Sathorn, just two minutes walk from Chong Nonsi BTS.

BASE has developed a strong reputation as a fun training environment that offers real results, making its Sukhumvit studio a firm favourite with locals, expats and celebrities alike.

All the elements of BASE’s concept that have proven so popular are now available at their second branch including their signature approach to HIIT (High Intensity Interval Training) and strength training. Whether it’s in a group |class format or a tailored personal training programme, BASE’s mix of cardio and strength has been a huge hit for its effectiveness in burning fat, improving fitness and building muscle.

In an exciting development for Sathorn-based exercise lovers, BASE is partnering with Physique 57, the workout specialists from New York.

The boutique fitness market is currently underserved in Sathorn so the introduction of these two top studios |creates a true fitness destination in the city’s business |district.

BASE and Physique 57 are offering an 8-week |transformation package that combines the two proven |training systems for maximum results , to be launched |on April 28.

International Financial Reporting Standard (IFRS) 9 was developed by the International Accounting Standards Board to plug gaps that were believed to have contributed to the economic meltdown during the 2008 global financial crisis.

Thailand will adopt the local equivalent, TFRS 9, which will apply to all companies and public-interest entities in the Kingdom.

The new standard, which will require companies and banks to recognise and provide for expected credit losses within 12 months from their reporting date, is expected to have a substantial impact on any organisations that have financial aspects, particularly banks.

“IFRS9 brings with it many challenges for banks, with a huge potential to negatively impact profitability. This will have a knock-on effect on consumers and businesses, who may see their mortgage rates go up and access to loans go down,” Dev Dhiman, managing director of Experian Southeast Asia, said on Monday.

“We are excited to be able to support TMB as they develop ways to better meet the challenges from the new standard and help ensure that they can provide the best quality services to their customers,” he added.

The additional flights will be available on April 10, 11, 12, 16 and 17, lifting the number of daily return services to six from the usual five. The service will be designated WE8732, departing Bangkok at noon and arriving in Chiang Mai at 1.15pm, and WE8733, departing Chiang Mai at 1.45pm and arriving at Suvarnabhumi at 3.10pm.

For more information, visit http://www.facebook.com/thaismileairways.

The rating reflects the listed company’s experience as a property developer, its relationships with successful hotel brands, and the good locations of its hotel properties, TRIS said on Monday.

The rating is, however, constrained by Grande Asset’s reliance on the income from a few properties, its high administrative expenses, and an aggressive investment plan.

The rating also takes into consideration the nature of the hotel industry, which is characterised by intense competition and a high sensitivity to uncontrollable external factors, and the cyclicality of the property market, the ratings firm said.

Property Perfect and its affiliates are currently Grande Asset’s major shareholders and direct its business decision.

As a result, the ratings of the two developers are closely linked, with Property Perfect rated “BB+” with a “stable” outlook by TRIS.

Chairman Chainoi Puankosoom said on Monday that Sopon was “a worthy leader” with seven-plus years of experience at the Thailand Board of Investment and senior leadership in real estate development sector.

The bank meanwhile reported on Monday it had approved new loans in the first quarter (as of March 29) worth Bt47 billion, a 62-per-cent increase over the same period last year.

It said the rise boosted outstanding loans to Bt1.04 trillion.

Charoen Pokphand Plc (CPF), an agri-industrial conglomerate, has committed to a CPF Safety Health Environment and Energy Standard.

All CPF’s domestic businesses set to be certified by third and second parties within 2018. This is to ensure a solid performance in the area of sustainability throughout the organisation, the company said.

Virachai Ratanabanchuen, chief operating officer at CPF, said the standard has been drafted specifically for the company’s business to mitigate impact on the environment and communities, using international principles as a guideline.

“It aims to reduce risks to the health and safety of those who work with the company and, consequently, decrease operating costs, helping the company to achieve sustainable goals,” Virachai said.

“The company also plan to extend the certification process to overseas operations. The employees from all 16 countries where the company is operated will be trained to make sure that the operation will run smoothly, consistently and with the highest effectiveness across the world.”

BIG Camera links up with manufacturers

BIG Camera, a digital camera dealer in Thailand and Southeast Asian, has announced an exclusivity marketing plan as a strategy “to stay ahead of the competitors and to differentiate us by joining forces with major camera makers which produce limited digital camera models in special colours”.

In addition to offering premium after-sales services, BIG Camera said it expanding its customer base to younger customers “who prefer unique styles and differences”.

To drive the retail market, the BIG Camera Festival 2018 will be held to sell camera models being introduced this year from every brand, kicking off the official sales season of the year for the digital camera products. The event is from April 4-11 at Central Plaza Ladprao.

Tanasit Thienkanjanawong, business development director of BIG Camera Corporation PLC, said that Thailand saw 310,000 digital camera units sold in 2017 at a value of Bt8.6 billion.

“The mirrorless digital camera segment still commanded a much higher market share than DSLR and Compact cameras. As digital camera brands focus on the mirrorless cameras, the competition is getting more intensified as a result,” Tanasit said.

“Based on our distribution data to our 230 branches throughout Thailand, it’s found that the consumer behaviour has been changing in the past two years, given that digital camera users are those in younger ages; they tend to follow closely trends in the market; they prefer limited edition products with unique styles and colours.

“In case that the models they look for are not available in Thailand, they will make an online purchase or a pre-order, under which they apparently encounter a number of limitations concerning quality check-ups, import duties, and warranty.”

VRH aims for high end with bathroom fittings

VRH, a Thai manufacturer and distributor of stainless steel taps and bathroom fittings, has launched the VRH Modern Life range of products, expanding the company’s business as an exclusive dealer of imported sanitary wares and taps from leading brands.

Featuring functionality and modern technology, VRH highlights Europea’s top brands such as Conti and Axent to attract high-end consumers.

Pisanu Hathaipantalux, director of VRH Modern Life, VR Union Co Ltd, said that, as Thailand’s leading manufacturer and distributor of stainless steel taps, bathroom fittings and kitchen accessories, VRH will launch a new business operation using the VRH Modern Life brand.

“The new segment will tap into the futuristic sanitary technology market to enhance efficiency and convenience that respond to the needs for functionality of consumers who favour high-end technology,” Pisanu said.

“These consumers have a tendency to grow in relation to the real estate and construction industry, which is expanding to correspond to the government’s infrastructure network development project and private investment in the Industry 4.0 era.

“Set to operate as an exclusive dealer, VRH Modern Life will select products from bathroom and kitchen segments, which feature leading-edge technology produced by the world’s top manufacturers and brands that are globally recognised for design and functional innovation. These products will be distributed in Thailand by VRH Modern Life for VR Union Co Ltd.

UPS boosts revenue by 11% for quarter

Global logistics operator UPS, which operates package and container transporting for domestic and international trades in more than 220 countries, yesterday released its results for the fourth quarter of 2017.

Revenue was US$18.8 billion, which represents a rise of 11 per cent from $16.9 billion in the previous quarter. The company announced earnings per share of $1.27.

David Abney, UPS chairman and CEO, said: “We achieved our 2017 adjusted earnings-per-share target through exceptionally strong revenue and yield growth, coupled with benefits from our network investments and portfolio initiatives. We made significant progress on key capacity investments in 2017.

“Our momentum, transformative actions and the economic catalyst from the Tax Cuts and Jobs Act (TCJA), position UPS for growth in 2018 and beyond. We expect to unlock significant resources, which will be available for accelerated investments in our network and create additional opportunities for our people.

“GAAP results for the quarter include a benefit of $0.30 per share attributable to the TCJA. In addition, results include a mark-to-market (MTM) non-cash, pre-tax pension charge of $800 million which represents an after-tax charge of $0.70 per diluted share.

In the prior-year period, the company reported non-cash, after-tax charges of $1.90 per diluted share related to mark-to-market pension charges.”

Nathalie Gerschtein Keraudy, managing director of L’Oreal (Thailand) Ltd, said the company’s mission is to drive “Beauty For All”, making beauty universal by offering all men and women our unique portfolio of iconic cosmetics products of utmost quality, efficacy, and safety.

More than ever before, L’Oreal has the best advantages in terms of innovation, quality standards and digital prowess to build long-lasting and meaningful bonds with our consumers. 2017 was especially notable for the accentuation of our digital edge, as digital channels became omnipresent for providing impeccable customer service. L’Oreal’s success is defined by our unique approach to the bright new world of beauty based on the following factors: clearly defined mission and strategy, highest prioritisation of product safety with long-haul investment in research and innovation, caring for the communities we operate in, and having strong and motivated team – all backed up by strong entrepreneurial culture.”

Thailand’s beauty market is one of the largest in Asean. Compared to 2016, The Thai market market grew 7.8 per cent in 2017. Skincare remained the biggest beauty category whilst make-up was a growth contributor to the industry.

L’Oreal Thailand is the largest L’Oreal subsidiary in Asean. In 2018, L’Oreal Thailand will focus on the four key priorities of development: consumer centricity, digital acceleration, great employer and great citizen.

With consumer centricity maintaining its vital role in the company’s strategy, product innovation will remain at the core of brand experience. It will be further enhanced through various initiatives such as one of our 2017 hero products ‘Vichy – Mineral 89’ the hydrating booster innovation and the newest trend to break the rule of existing hair colours with L’Oreal Paris Cololorista , a revolution of new hair colour in form of semi-permanent hair colour. 2017 also saw L’Oreal products dominate the market in several other categories including L’Oreal Paris Elseve, in leave on hair treatment, Garnier Micellar Water in cleansing, Shu Uemura in luxury cleansing oil, Lancome in luxury cushion foundations, and Biotherm Homme in luxury men skincare.

Apart from innovation, understanding and swiftly responding to changing consumer needs with unique beauty experiences, played an integral part in the company’s success. NYX Professional Makeup has recently opened Asia’s First NYX Professional Makeup flagship store at Siam Square One in Bangkok which is also the digitalised destination for of all Thai beauty junkies. Kiehl’s has launched the powerful skincare ‘Apothecary Preparations’, a new level of personalised facial skincare serum, and a service that tailors facial concentrates to address consumers’ unique skin concerns.

Furthermore, in 2018, L’Oreal Thailand is welcoming two newest additions to its brand portfolio, with the first being Giorgio Armani Beauty, the luxurious innovative cosmetic, tailored to meet the needs of all people’s skin perfection through unique makeup products born backstage and the premium skincare. The second addition, developed by expert dermatologists, CeraVe, is an affordable and accessible Dermoskincare enriched with a blend of three essential ceramides and its revolutionary delivery system. The line-up of dermatologists-recommended solutions includes cleansers and moisturizers to hydrate, restore and replenish skin.

Digital Acceleration will be another key strategy for L’Oreal Thailand to propel growth in a highly digital connected market. In 2017, L’Oreal made use of various communication channels and approaches by venturing into new e-tailers with Konvy and Orami, as well as social commerce channel in Line@ and Craze, and the latest launch of owned e-boutiques with Lancome, YSL Beaute and Biotherm.

“e-Commerce is a very fast-growing channel and L’Oreal Thailand is committed to take a large part of it. We have been growing our e-commerce business in multiple ways to ensure that we are a step ahead of market trends and are present at every single step of the consumer journey including strengthened our leadership in connected beauty, managing to develop personalised interactions with consumers, and are on the right track to fulfil L’Oreal’s aspiration to be a brand loved by all,” said Keraudy

Being a great employer and a great place to work, is another top priority for the company. L’Oreal constantly strives to be the workplace magnet for the most aspirational talent, where employees’ success is shared and celebrated. By the end of 2018, L’Oreal aims to train 100 per cent of its employees through various learning and development programmes. Aimed to sharpen employee’s skills, these programmes will be conducted all year round using innovative offline and online learning platforms.

“In 2018, L’Oreal Thailand will keep working towards our vision of having at least one L’Oreal product in every Thai household paving the way in becoming the leader of the beauty industry in Thailand,” said Keraudy.