Bangkok Bank credit card chief Shoke Na Ranong said the bank has partnered with Chevron (Thailand) Limited, the marketer of the Caltex brand, to develop the fleet card. The card will enable firms to manage fuel expenses more efficiently as they will be provided with electronic invoices, daily and monthly fuel expense details and tax invoices.

Employers using this fleet card can set limits for either the spending value or litres of fuel per day or month and the mileage system can be used to calculate the fuel consumption rate.

The fleet card will specify the corporate name, licence plate, car make, the type of fuel permitted and gas stations where the card can be used. With these features, businesses can control and manage costs more efficiently.

The credit term is for up to 55 days and the enhanced flexibility will allow a business to select its preferred date in the billing cycle to correspond with the company’s accounting system.

This will enable better cash flow, improved liquidity and more efficient business management.

Bangkok Bank also introduced its new cash card, a prepaid card for tank filling and other engine products at Caltex stations nationwide, to control monthly expenses.

The bank said organisations and businesses can give this as a gift card to customers and specify the name of the company and place a message or logo on the back of the card.

“Bangkok Bank has been cooperating with Caltex stations for joint-marketing for a long time, especially in developing promotions for Bangkok Bank credit card users, and this collaboration will further support the needs of Bangkok Bank customers. Corporate customers will have more ways to manage their fuel costs efficiently and have better cash flow,” said Shoke.

Salman Saadat, Chevron’s manager in Thailand said the collaboration would complement both businesses as it combines strength, potential and business expertise to better facilitate business operators, retailers and corporate clients while fulfilling their needs and catering to their demanding lifestyles.

New product launches will help enhance customer experience and provide privileges and payments can also be made via QR codes on EDC, a convenient new option for fuel payment.

Saadat said: “Chevron is committed to developing strategies to serve the needs of current customers, adjust to changing needs and be a one-stop service station with a priority concern for safety, in line with the Fuel Service Station Control Act.

“Chevron expects that the introduction of QR code payments on EDC will provide greater convenience to customers and shorten service time. The company is prepared to offer the QR code payments upon regulatory approval of mobile phone usage at the fuel service point,” added Saadat.

Turnover of its high-quality 100-per-cent jasmine rice last year was 250,000 tonnes, a 15-per-cent increase over 2016.

From current production capacity of 300,000 tonnes per year, the company expects sales of 400,000 tonnes per year in the next five years.

For health-conscious consumers, the company recently launched Zuper Rice, with six times more anthocynanin than is found in typical brown rice.

In the third quarter, the company will launch a new fluffy and tender rice at a reasonable price in a market worth Bt50 billion.

Proactive marketing, brand strengthening, engagement with consumers and honesty are the hallmarks at Hong Thong, whose motto is “Quality, fair price, serve honestly”.

“We started out trading milled rice and then expanded to overseas markets,” said Vallop Manathanya, chairman of Bangsue Chia Meng Rice Mill Co Ltd (BSCM).

“Our philosophy is to maintain high quality, keep our promises and conduct our business honestly. This mindset has encouraged business growth for 80 years and that will continue in the future too.

“Other very important factors behind our success are taking good care of our upstream and downstream partners – the suppliers, customers, farmers, mills, financial institutions, packaging manufacturers – and our international distributors in the United States, Canada, Hong Kong, Singapore, Guam, Japan, etc, as well as great support from the sector.”

Though sales volume rose in 2017, sales value declined slightly because of a drop in the market value of rice, Vallop said.

Hong Thong, the company’s own brand, accounted for more than 85 per cent of total sales volume. Overall, 95 per cent of sales were in jasmine rice and the rest in the company’s three other brands.

Since most sales were generated from the company’s own brand, it ensured a high degree of stability.

“In the next five years, the company projects export volume at 400,000 tonnes, or 10 per cent growth per annum, with the targeted export value between Bt9 billion and Bt10 billion,” Vallop said.

“At our rice mills in Nonthaburi, Si Saket, Roi Et and Suphanburi, which are points of purchase, and our production plants for white rice and fragrant rice, our total production capacity has reached 300,000 tonnes per year.”

TrueVisions platinum and gold members will be able to watch all 64 matches in the highest-possible resolution.

The World Cup in Russia will be the first content broadcast via the 4K Ultra HD system, which is four times clearer than HD and 20 times clearer than the existing standard system.

Subscribers with any package will be able to watch the World Cup on TrueSport HD3 (Channel 668) 24 hours a day. In the event of live coverage of multiple matches at the same time, TrueSport HD2 will also be broadcasting.

Those with platinum and gold packages can register now for a 4K Ultra HD box, the installation fee for which is Bt2,000, discounted from the normal Bt9,500.

“Television technologies have developed immensely,” marketing director Sueksith Cholasuek noted, “and TrueVisions never stops developing new technologies and enhance broadcast quality. With 4K Ultra HD, World Cup viewers will be able to watch in the highest resolution football’s superstars on 32 teams such as Lionel Messi, Cristiano Ronaldo, Neymar, Mohammed Salah, Antoine Griezmann and Eden Hazard. The opening match between Russia and Saudi Arabia is on June 14 at 10pm Thailand time.

E-commerce in the Asia-PAcific region (APAC) is thriving, with 71 per cent of consumers having made online purchases, but the risk of online fraud for consumers is rocketing.

Results from Experian’s Digital Consumer Insights 2018 report show that the demand for online convenience is linked to a heightened threat of fraud, with one in five consumers having already fallen victim

The report, published by Experian and co-authored with advisory firm IDC, is based on a consumer survey across ten APAC markets: Australia, China, Hong Kong, India, Indonesia, Japan, New Zealand, Singapore, Thailand and Vietnam. The study delves into how well businesses mitigate fraud risk through the eyes of their customers.

It found that as brands and consumers look for ever-easier ways to buy and sell products online and via mobile devices — with electronics, travel and groceries being the most popular — the opportunity for online fraud is escalating.

The report also found that while consumers in Thailand are the most willing to adopt biometrics for non-commercial purposes, they also have the highest error rate in the submission of personal data.

SHOW FOCUSES ON CORRUGATED PACKAGING

A group of industry associations and a Thai government body has announced the 2nd edition of the CCE South East Asia – Thailand 2018 trade show, highlighting the Thai Corrugated Packaging industry.

The event will run concurrently with ICE South East Asia from September 5-7 at the Bangkok International Trade and Exhibition Centre (BITEC), Bangna, and will highlight the latest machines and equipment from leading manufacturers throughout Asean, offering a showcase of direct-to-user solutions.

The four organisations comprising the CCE South East Asia partnership are the Thai Corrugated Packaging Association; the Thai Pulp and Paper Industries Association; the Thai Screen Printing & Graphic Imaging Association; and the Thailand Convention & Exhibition Bureau (TCEB).

The organisers said the CCE – ICE 2018 event is part of the group’s broader aim to expand manufacturing capabilities and drive sustainable growth in the Thai Corrugated Packaging Manufacturing industry, in line with the government’s Thailand 4.0 digital-era development plan.

According to Kanokwara Anutarawatr, senior manager of Mack Brooks Exhibitions Asia, “Nowadays, corrugated packaging industries in Asean countries must be able to meet growing local demand and rising customer numbers.

“With a combined population of 620 million, most of working age, Asean countries have experienced a steady rise in consumer demand. This is a key factor driving national economic growth levels in the region, which has led to expansion of the consumer goods and packaging markets and recent innovations in the corrugated packaging industry.”

SCB JOINS FASTWORK TO SERVE SME NEEDS

Siam Commercial Bank has teamed up with Fastwork Technologies Co Ltd, the largest online freelancing platform in Thailand, to expand the network of partners providing digital solution services and enhance the competence of small- and medium-size enterprise (SME) clients, connecting 7,000 freelancers from all professions to serve the comprehensive business needs of its SME customers.

With the effort, SME clients can use the services of professional freelancers at competitive prices. SCB and Fastwork recently held a “Decode SME Business with Freelance Solution” seminar and an exhibition demonstrating the achievements of freelancers under the Fastwork community to inform SMEs, so they can opt for the services meeting their needs.

Thawatvongse Silamanonda, country manager of PCCW OTT (Thailand), which operates the over-the-top (OTT) video service, said that under the collaboration with GMM Grammy, the firm will select premium content from GMM 25 of as much as 200 hours for users who access its digital content via the Viu application.

“I think that the collaboration will help us to expand our customers base and target segment. The service will utilise new technology to bring out the expanded content offerings,” Thawatvongse said.

He said that the firm now provides up to 10,000 hours of Korean dramas via Viu’s OTT video services. It also provides Japanese and Hong Kong content to support the needs of its viewers. GMM Grammy is its first partner in the country.

“Thailand is an important market for us and we have a spent a long time to prepare a social media platform to support Thailand, where people love content and entertainment,” said Helen Sou, senior vice president of digital media at PCCW Media Group. “Thailand is also a fast-growing market. The firm targets to get break even with this service in the next few years.”

The company has achieved around 2.3 million downloads, with 70 per cent of them done by women.

It also has around a million active viewers in Thailand. Viewers spend around 1.2 hours to 1.8 hours a day looking at content via the Viu application. The collaboration will drive its business growth in the country and create opportunities to provide more variety in digital content to its customers, Sou said. The firm had more than 16 million active users in the region by the end of 2017.

Boosaba Dao-Rueng, group executive officer of GMM Grammy, said that the collaboration will help the company to achieve its business goals. All Viu users in Thailand can enjoy premium digital content from GMM 25, Boosaba said.

“Meanwhile, premium users can enjoy enhanced features including ad-free content, availability in full HD 1080p video quality and the option to download to view later,” Boosaba said.

“The firm expects that it will capture the rising demand from OTT users both with its GMM 25 digital TV channel and through the Viu platform.”

The project for the aircraft maintenance, repair and overhaul (MRO) centre at U-Tapao International Airport is being led by the national carrier, which will operate the facility in a joint venture with a yet-to-be selected aircraft manufacturer.

Planned to open in 2022, the so-called MRO Campus is billed as a world-class facility that will further entrench Thailand’s standing as an aviation hub in the region and help propel the development of the flagship economic zone that hosts it.

Ronnachai Wongchaoum, vice president of the TG MRO Campus Project Office Department at Thai Airways International Plc (THAI), said the airline expected to submit the feasibility study for the project to Prime Minister Prayut Chan-o-cha by this month or the next. Prayut, who chairs the Eastern Economic Corridor Management Committee, would decide whether to approve the project in principle.

“We want to develop the No 1, world-class MRO centre, which will be the best in terms of on-time and on cost considerations, as well as on quality,” Ronnachai said.

Occupying a 210-rai plot, the MRO Campus will require investment of about Bt11 billion, with Bt7 billion earmarked for construction and the rest for equipment. The design work is scheduled to start from June and will take about one year, before construction can begin.

The MRO Campus will be owned and invested in by the Royal Thai Navy under a right granted by the Treasury Department. The campus will be operated by THAI and the joint venture partner under a leasing contract of 50 years.

The MRO Campus will open officially in June or July 2022, and employ between 500 and 800 workers, including technicians. The maintenance centre will have a capacity to handle between 50 and 80 heavy maintenance events annually.

The centre’s payback period will be between five and 10 years when annual income is forecast to reach Bt3 billion. The MRO Campus’ annual income from aircraft maintenance services is expected to exceed Bt22 billion within the next 50 years. U-Tapao airport itself is expected to attract an increasing number of visitors, jumping from around 30 million a year now to 60 million in the next five years.

“We (THAI) have already approached the biggest of the two major aircraft manufacturers to become our joint venture partner in the MRO Campus project in U-Tapao,” Ronnachai said.

“We have got a positive response from a European company that is looking for a prime location in Southeast Asia to set up a maintenance, repair and overhaul centre. For us, we would like to have technology transfers and customers from the aircraft maker.”

“We need to find an aircraft manufacturer as our joint venture partner so as to benefit from the transfer of maintenance technology and management know-how.”

Ronnachai said the envisaged 50:50 joint venture agreement between THAI and the plane maker that will emerge as its partner in the MRO Campus project is expected to be signed by the end of this year.

He said that the aircraft maintenance business in the Asia-Pacific region shows strong growth potential, driven by an increasing number of aircraft in the region, including those being operated by the major airlines.

There are about 20,000 aircraft in operation globally and the number will increase to 35,000 within the next 20 years, according to predictions from the big major aircraft manufacturers.

“There are also 6,139 aircraft being operated in the Asia Pacific, including China. In the next 20 years, 14,276 new aircraft will be added into the region,” Ronnachai said.

“Meanwhile, about 3,438 existing aircraft will be discharged from the Asia Pacific region in the next 20 years. As a result, the actual number of aircraft operated in the region, including China, will be 16,977 in the next 20 years.”

Ronnachai said that each aircraft will have a lifetime of between 24 and 30 years on average, and are typically operated by premium airlines for the first 12 years before they are sold to other airlines or air service providers. Each aircraft will see about four to six years of operations before entering major maintenance. Each round of such maintenance would cost about Bt25 million, Ronnachai said.

Thai Union Group PCL, a leader in the global seafood business, has won major awards in several Thailand categories in the 18th annual Asia’s Best Managed Companies survey by FinanceAsia.

In a poll of 140 portfolio managers and buy-side analysts around the world, Thai Union was placed first for “Most Committed to Corporate Governance” and “Best at Corporate Social Responsibility.”

Together with the top two categories, Thai Union was ranked second for “Best CEO” (Thiraphong Chansiri), “Best CFO” (Joerg Ayrle), “Best Managed Company”, and “Best at Investor Relations.”

Thai Union Group’s CEO, Thiraphong Chansiri, commented that the awards reflected investors trust and confidence in Thai Union.

“I’m very proud that Thai Union’s hard work, especially on corporate governance and corporate social responsibility, has been acknowledged by the investor community. We will continue to embrace our role as a leader for positive change, while striving for strong business growth,” said Chansiri.

Last year, Chansiri and Ayrle were also recognized as the third Best CEO and third Best CFO, respectively, in the consumer/staples sector of the Institutional Investor’s 2017 poll.

Thai Union was also named to the Dow Jones Sustainability Emerging Markets Index (DJSI) for the fourth consecutive year in 2017, as well as named to the FTSE4Good Emerging Index.

SMART WINDOW DISPLAYS VIEW TO BLIND PASSENGERS

From rolling hills to mountain ranges, views make any road trip memorable, but for blind passengers this is part of the experience that they miss.

Ford’s prototype smart car window aims to change this – by enabling blind or partially-sighted people to visualise passing scenery through touch.

Feel The View takes pictures that are turned into high-contrast monochrome images. These are then reproduced on the glass using special LEDs.

By touching the image, different shades of grey vibrate with a range of 255 intensities, allowing passengers to touch the scene and rebuild in their mind the landscape in front of them.

Feel The View was conceived and developed by Ford of Italy and GTB Roma, in collaboration with Aedo – an Italian start-up that specialises in devices for the visually impaired.

“We seek to make people’s lives better and this was a fantastic opportunity to help blind passengers experience a great aspect of driving. The technology is advanced, but the concept is simple – and could turn mundane journeys into truly memorable ones,” said Marco Saffi, Ford/Italy.

SCB EXPANDS FINTECH VENTURE CAPITAL PROGRAMME TO $100M

Siam Commercial Bank (SCB), through its FinTech investment arm Digital Ventures Co Ltd, has increased its corporate venture capital |fund by US$50 million, bringing the fund’s |total capital base to US$100 million and |making it the largest venture capital fund in Thailand.

The bank also signalled a shift in focus from fund-of-fund investment towards more direct investment to support its digital transformation strategy.

Arak Sutivong, SCB chief financial officer and chief strategy officer, said that during the past two years, SCB has achieved significant investment milestones and established strategic partnerships with leading venture capital funds and startups.

“With this success, we have expanded our access to critical technologies. At present, we have engaged with over 800 startups and more than 60 venture capital funds in nearly 30 countries.

“This has provided us unparalleled opportunity to learn about, connect with, and invest in technologies ranging from blockchain to quantum computing to geolocation.

“Such technologies add tremendous value to our business operations and to customers, and play an essential role in SCB’s digital transformation.

Our past success has given us the confidence to double our venture capital fund size from US$50 million (Bt1.75 billion) to a total of US$100 million (over Bt3 billion).”

Polapat Arkkrapridi, managing director, corporate venture capital, Digital Ventures Co Ltd said that the increased capital base will allow us to continue sourcing and investing in technologies vital to SCB’s transformation strategy and innovation initiatives.

Such innovations will address new business challenges and open up new opportunities for us to introduce groundbreaking products and services to the bank’s retail and corporate customers.

Digital Ventures’ venture capital strategy has focused on building networks and relationships with key startups, leading venture capital funds, and fintech thought leaders around the world, and on promoting knowledge sharing with SCB management and corporate customers through its annual Faster Future Forum, as well as regular workshops and seminars.

ONE-OFF CAR TO TOAST THE ROYAL WEDDING

MINI is to celebrate the wedding of Prince Harry and Meghan Markle with a one-off MINI Hatch designed specifically to commemorate the special occasion and to be donated to one of the couple’s chosen charities.

After the wedding day on 19 May, this one-of-a-kind MINI will be handed over to The |Children’s HIV Association (CHIVA) for public auction.

“As an iconic British brand with almost 60 years of history in the UK, we are pleased to mark the royal wedding with this special charitable gift,” explains Oliver Heilmer, Head of MINI Design.

“The MINI Design team has created a one-off MINI Hatch for the occasion. Its specially designed roof graphic combines with 3D-printed personalised interior and exterior details as well as special embroidery to make this a MINI like no other.”

The company remains optimistic of the economic outlook this year, but remain cautious as domestic demand remains weak as it recovers.

Darm Nana, chief financial officer, said that the ever- changing behaviour of consumers has always been both key risks and key opportunities for RS.

“We’ve proven ourselves to be very adaptive to any market circumstances. Multi-platform commerce (MPC), the new business endeavour of RS, is a living proof of our resilience. In the modern media world, it is not viable to rely on a single-engined business. This simply means being a regular TV channel operator will no longer be sufficient to drive earnings to the level RS is aiming for,”

“MPC model is derived from all platforms operating and partnering with RS, such as media (Channel 8, 4 satellite TV channels, Radio), online sales, retails and direct sales,” he said.

Darm said RS’s revenue in the first quarter of 2018 reached Bt969 million, up 30 per cent year on year. Meanwhile, the company’s net profit stood at Bt102 million, a 117 per cent growth compared to the same quarter of last year. The surge in performance was attributed to its multi-platform commerce (MPC) business, which grew 191 per cent in revenue and enjoyed significantly higher profits than its competitors, thanks to the addition of health and beauty products under brands Magique, Revive and SOM.

Meanwhile, it has also branched out to home and lifestyle products such as home appliances, kitchen appliances, and clothing. Repeat orders were seen in its existing customer base which kept expanding with new comers, reaching a new high on a monthly basis.

“Our revenue target for this year remains unchaged at Bt5.8 billion, consisting of 60 per cent from MPC business, media 35 per cent and 5 per cent from others. We now consider ourselves as a commerce company,” he said.

“We are always in search of new business opportunities, particularly those which could synergise with our core businesses. The current plan is to drive the MPC to reach a higher potential, given a large customer’s database we have accumulated over the past few years, and the increase in the number of products (SKU) on offer through our platforms,” added Darm.

Furthermore, Darm said that with Channel 8 being the flagship of our media business, Number 2 prime time rating in the country and top 5 rating in evening prime time, advertising revenue nearly doubled in March, a new phenomenon despite a slow season for the media market. It has also secured long-term advertisement and sold advertising platforms as expected.

“Things are looking positive in the second quarter as both MPC and Channel 8 are still on track. The two businesses complement one another, and the company balances external advertisement and its own advertisement well. As a result, its platforms are maximised, generating higher profits for the company. The rising star of the company is the MPC business as the company partners with world-class labs to conduct research and produce high-quality products that meet international standard to meet various needs of consumers,” he said.

“It has been three years since we entered the health and beauty business with Life Star. We expect that it will be our main earner in the future. We are aware that health and beauty products must have high quality and be carefully produced,” he added.