Executive vice president Piyawan Leelasompop‎ said the company was ready to offer full services via its social platforms.

“Central on Demand allows customers to shop at their convenience, whether they are in Bangkok or other cities, even if there’s no Central Department Store present in that city,” he said.

The plan is in line with Central Group’s “New Central, New Economy” business strategy for 2018-2022.

“Central Department Store is the first in Central Group to offer full-scale services through omnichannel platforms before the model is extended to other businesses within the group,” said Piyawan.

At present, Central Department Store offers services on Facebook (1.2 million followers), Twitter (0.98 million), Line (five million) and Instagram (38,000).

Central on Demand, introduced one year ago, has 65,000 followers with more than Bt10 million worth of orders, a figure expected to reach Bt100 million this year.

“We are the leader of every digital platform and we offer a seamlessly connected omnichannel experience to respond to our customers, especially millennials,” said Piyawan.

“We’ve seen a 20-per-cent increase in this group in the past year, from 12 per cent in 2016 to 30 per cent this year.”

The acquisition marks the biggest step by TCC Group in its strategic shift towards the digital era, both in Big Data analysis and e-commerce platforms, as well as gaining a new business with a promising growth outlook.

Under the acquisition, TSpace Digital holds a 51 per cent stake in Tarad.com, with the company’s founder and managing director Pawoot Pongvitayapanu owning the rest.

The company declined to disclose the acquisition price.

TSpace Digital was set up this month with Bt1 million in registered capital, and is 100 per cent owned by Adelfos Co Ltd, an investment arm of TCC Group.

Pawoot said that Tarad.com had transformed itself from an e-marketplace company into a one-stop e-commerce service provider.

“We have created a new business model, called U-Commerce, which will consist of many electronic platforms, comprising e-commerce, e-marketplace, e-marketing (advertising), e-payment, e-logistic and warehouse, and e-knowledge,” said Pawoot, noting that Tarad.com would cover full e-commerce models, including consumer-to-consumer (C2C) and business to business to consumer (B2B2C) and a full ecosystem.

He said that Tarad.com would invest at least Bt100 million this year in exploring e-commerce platforms, which will allow the company to become a provider of turnkey e-commerce solutions. The company expected to post revenue growth of between 200 per cent and 300 per cent that would see the company achieve profitability this year.

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“With the business transformation, we (Tarad.com) will no longer focus solely on the e-marketplace, which requires a huge investment budget to stay competitive. The e-marketplace business has become a ‘red ocean’ and is dominated by big foreign players, such as Lazada, Shopee, 11Street, and JD Central,” said Pawoot.

He said that by being a provider of total e-commerce services, Tarad.com will be a partner with those e-marketplace operators and a hub for Thai manufacturers that want to explore entry for their products into foreign markets.

Thailand’s total e-commerce market was estimated Bt2.8 trillion for last year.

The three most popular channels are brand site, e-market place, and social media.

Marut Buranasetkul, president and CEO of TSpace Digital, said that the company has realised a dramatic change in business trends with the critical role of online and other digital elements in the business operations.

“TSpace Digital has been set up to support and develop the new businesses in order to connect seamlessly with the digital-based consumers, who are lifestyle-driven,” Marut said. “The demand for consumer understanding with digital solutions is high and will be the major element for all business operations and we must find the way to access to them in all channels, both online and offline, with in-depth data analysis.

“In addition to that, we recognise the potential of our local SMEs and local community products, including those are under the Pracha Rath scheme, that are determined to expand their businesses to meet with the needs of the digital era, especially e-commerce and other online businesses.

“We believe that many of our SMEs are competent with a capability to compete in the international arena if proper support is provided. TSpace Digital is determined to play such a role to drive the growth of these businesses.”

The joint venture, Six Network, will offer the digital currency, called SIX, for a use as a utility token. The alliance between the partners aims to create what they call “a more transparent, fair, secure, and efficient ecosystem for all stakeholders” across all parts of the digital economy.

Contributing investment of 40 per cent each in Six Networks are Ookbee U and YDM, a subsidiary of Yellow Mobile. Ookbee U is a joint venture between Ookbee and Chinese technology giant Tencent. Computerlogy put in 20 per cent of the investment.

Six Network aims to create and operate SIX as a utility token for use by participants in the emerging innovative and digital sectors of the new industrial landscape – not only in Thailand, but throughout Asia and, ultimately, across the world.

The joint venture has initiated one billion SIX tokens, each valued at 10 US cents. It aims to gain hard currency from an initial coin offering (ICO) valued at US$43 million.

The pre-sale starts on April 3 and the public ICO will start immediately after the pre-ICO tokens are sold out; the public ICO will last until May 31. The minimum investment is 1,000 SIX tokens.

Natavudh Pungcharoenpong, co-founder and co-chief executive officer of Six Network, said that the company’s ambitions for SIX as a utility coin for the global digital creative industry will start with Thailand and other Asian countries, especially South Korea, capitalising on YDM’s presence there. Expansion to countries farther afield would follow.

The partners aim for SIX to be the “Internet of Digital Services”, providing decentralised solutions for a range of transactions in the digital and creative economies.

Under Six Network, there are more than 40 digital and creative startups in South Korea, Thailand and other Southeast Asian countries. It brings together an alliance of more than one million content creators, social media influencers, comic writers, VDO producers and more than 10 million active users of platforms offered under the alliance.

“On the Ookbee U platform alone, we have 330,000 creative workers,” said Natavudh. “We also have a total of six million users participating daily on our services. Over the past 18 months, around 550,000 people have been using Ookbee U tokens. These groups will be the first to adopt the SIX token.”

Vachara Aemavat, another co-founder and co-chief executive officer of Six Network, said that the company “uses blockchain technology and smart contracts to reinvent the digital economy by building infrastructure and an ecosystem with three main features: financial services, a digital asset wallet, and wallet-to-wallet commerce”.

To build the ecosystem, Vachara said Six Network launched the Blockchain Startup Fund with Bt500 million of investment. The funds will be invested in partners, business development and community development.

Separately, JVentures yesterday said it would launch digital currency trading in the secondary market on May 2. The firm also will come out digital loan services to support people at the grassroots level of the economy in the second quarter of this year.

Taro Lertwattanarak, chief executive of JVentures, a subsidiary of Jay Mart (JMart), said that the firm on February 14 launched an ICO of 100 million JFin Coins to more than 2,200 backers, known as supporters, with a market value of around Bt660 million. Each JFin Coin was valued at Bt6.60.

The company will distribute the 100 million JFin Coins to the supporters on April 2 and allow them to begin official trading in the coins via local secondary exchanges on May 2. The digital currency trading platforms involved are TDEX, Coin Asset, iCoin, BX Thailand, Cash2Coins and JibEx.

The company is awaiting the approval of an emergency decree on the matter from Bank of Thailand, which is expected to come soon.

Taro said JMart would provide the digital loan services under the brand Big Brother, involving a decentralised digital lending platform (DDLP) based on blockchain technology that supports peer-to-peer lending.

The new vehicle is now available for customer bookings at the Motor Show until April 8, and at all Ford dealerships nationwide.

The Ranger Raptor – Asia-Pacific’s first and only factory-built, high-speed off-road performance truck – is on public display for the first time at the Motor Show.

The event is being held at IMPACT, Muang Thong Thani.

Manage

Founded in 1972, OVS is Italy’s first and No-1 fast-fashion brand for men, women and kids, and the global apparel chain has more than 1,300 stores in Italy and abroad.

Minor Corp operates four stores in Thailand.

The latest addition to the listed company’s growing stable of international clothing brands will help consolidate the company’s position as one of Thailand’s leading retail operators.

OVS’s entry into the Thai market also signals intensifying competition in the fast-fashion segment, said James Richard Amatavivadhana, chief executive officer of Minor Corp.

“If you look at the [apparel] market, we want to participate in this area with brands that have a unique proposition in terms of quality and style. And yet they must be affordable to our potential consumers. OVS – being a successful Italian-based brand itself – has great potential to effectively compete in this market based on its unique proposition.

“It’s our mission to be one of the leading operators in Thailand’s fashion retail [sector]. In order to do so, we need to drive performance and the economic value of our existing portfolio. More importantly, we need to add new brands to our portfolio that are relevant to our discerning customers,” the CEO said.

“We’re seeing a great opportunity for growth with OVS’s debut in the Thai market,” he added.

Thailand’s clothing industry grew 4.4 per cent in 2017 and is forecast to expand a further 4.1 per cent to reach Bt234 billion this year.

Minor Corp expects to generate Bt4 billion in sales this year from its imported brands.

MCOT plans PPP projects representing long-term investments in Bangkok, on 70 rai near the Thailand Cultural Centre and 60 rai in Bang Pai district.

MCOT Plc president Kematat Paladesh said the interest of potential foreign and domestic investors in the two properties would be gauged.

The 70-rai site includes 50 rai near the Cultural Centre worth Bt5 billion and the adjacent 20 rai occupied by MCOT headquarters, worth more than Bt2 billion.

At 50,000 square metres, the former could accommodate a 40-storey exhibition and convention centre.

MCOT will assess the market and then conduct a feasibility study, with the findings presented to the board of directors and the Finance Ministry.

It is expected that construction would begin in 2021.

MCOT also plans a residential project on the 60 rai in Bang Pai worth Bt400 million-500 million. The site has ready access from Phutthamonthon, Petchkasem and Baromrajchonnee roads.

Another 40-rai property in Nong Khaem district currently hosts transmission equipment and production studios owned by Bangkok Entertainment Co Ltd that will be transferred to MCOT when their joint venture agreement expires in 2020.

MCOT also has 20 rai on Petchkasem Road in Chumphon with convenient access to Nakon Si Thammarat and Krabi.

Takorn Tantasith, secretary-general of the National Broadcasting and Telecommunications Commission (NBTC), revealed the decision following a meeting with the junta.

He said the NCPO was worried it would be accused of showing undue favour to the private operators if it granted relief measures as requested.

Deputy Prime Minister Wissanu Krea-ngam told the NBTC to present further justification in writing for the junta to approve relief measures.

The digital TV licence holders had asked the government to ease their financial woes by granting a three-year grace period in paying the remaining instalments of their upfront licence fees and by halving their terrestrial broadcasting network rental fees for two years.

Advanced Wireless Network (AWN) and TrueMove H Universal Communication, both of which hold NBTC 900MHz licences, had asked the junta to let them split their fourth and final instalment payments on the spectrum auction upfront fees into five tranches.

AWN and TrueMove H are each required to pay the final instalment payments of around Bt60 billion in 2019.

Thailand Development and Research Institute president Somkiat Tangkitvanit said recently neither the government nor the NBTC should be held responsible for losses incurred by the licence holders as a result of a glut of available channels and viewers shifting to alternative technical platforms.

He said both factors causing the losses were part of the normal business risk the broadcasters should have been aware of from Day 1.

The broadcasters have complained that the NBTC failed to ensure the industry’s smooth transition from analog to digital transmission.

Somkiat said that, unlike the case of digital TV operators, it was not clear what the government or NBTC did wrong to cause financial difficulties for AWN and True.

And, unlike to the broadcasting industry, the shift to alternation platforms did not severely impact the telecom industry, he said.

Somkiat said such disruption might diminish telecom operators’ voice service revenues, but they earned more from wireless data services in compensation.

A stock analyst, who declined to be named, said on Tuesday that he had disagreed from the very start with the notion of the government being asked to step in to ease the financial burden on the broadcasters and telecom operators.

Before taking part in the NBTC digital-TV licence auction in 2013, the bidders should have realised there would be intense competition in the industry as they knew that the regulator would be auctioning as many as 24 licences, he said.

He added that the best solution was to let the market mechanism take its course, which would see many broadcasters dropping out of the market, which would then enter a state of equilibrium with an appropriate number of operators having survived the initial period of intense competition.

Supasith Sukhanindr, chairman of Mudman Plc’s executive committee, said that the group acquired the Michelin two-starred restaurant from the renowned French chef and owner Guy Martin in a deal valued at 9.17 million euros (Bt364 million) last December via newly formed subsidiary Mudman International Ltd (MI).

Mudman’s latest high-profile international foray will drive the next phase of the Bangkok-based restaurant group’s international expansion that is spearheaded by MI.

Nadim Xavier Salhani, CEO of Mudman Plc, said that the takeover reflects the group’s “determination to strive for international recognition as a world-class player” in the global food retail industry.

“We are confident that this new international venture will help keep the company aligned to our vision, that of becoming a leading retail and lifestyle conglomerate in the global market with a projected turnover of Bt5 billion within five years,” said Salhani.

With its overseas outlets growing in Europe, the restaurant group is looking to establish a permanent foothold in the European market. MI recently opened the first Greyhound Cafe in London, which is already reporting brisk business. More outlets are in the pipeline, Salhani adds.

The acquisition of Le Grand Vefour will help put Mudman on the map, with its vast array of assets spanning Asia to Europe.

The restaurant expects to generate over Bt150 million in annual revenue in its first year.

Dubbed as the “jewel of the 18th century”, Le Grand Vefour has always prided itself on being a popular Paris rendezvous for France’s ruling, business and intellectual elites along with the glitterati of Paris’s literary, art and fashion worlds. Among other famous patrons, Napoleon Bonaparte loved the restaurant so much that he used the venue to propose to his wife Josephine.

The historic restaurant counts among the most magnificent and luxurious restaurants in Paris, thanks to its plush palatial interior with exquisite embellishments such as Louis XVI-style garlands and carved panelling.

As part of the deal, chef Martin continues to serve up high-end dishes and remains head chef and director of Le Grand Vefour.

Himself a household name in France and one of Paris’ most accomplished chefs, chef Martin joined Le Grand Vefour in 1991. It took another 20 years before he became its proprietor.

Elected as “Chef of the Year” by the Gault & Millau, Champerard and Pudlowski guides, he loves travelling, and is hooked on the world’s colours, sensations and flavours.

With an initial investment of Bt100 million to Bt150 million, Mudman will take fine dining to new heights with a number of much-anticipated new restaurant projects in the works in Europe and Asia.

In close collaboration with Martin, Mudman is developing new restaurant concepts targeting middle-class to upmarket customers in Paris, Hong Kong and Tokyo.

The group expects to open new overseas outlets next year.