Huawei broadens its scope of ISP offerings in Southeast Asia

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http://www.nationmultimedia.com/detail/Corporate/30344976

Huawei Technologies Co’s Qiu Lei, left, and Wing Kin Leung at a press conference in Hong Kong (Photo-Khine Kyaw, The Nation)
Huawei Technologies Co’s Qiu Lei, left, and Wing Kin Leung at a press conference in Hong Kong (Photo-Khine Kyaw, The Nation)

Huawei broadens its scope of ISP offerings in Southeast Asia

Corporate May 10, 2018 01:00

By KHINE KYAW
THE NATION
HONG KONG

IN A BID to improve the efficiency of Internet service providers (ISPs) in Southeast Asia, Huawei Technologies Co yesterday launched three products designed to accelerate ISPs’ digital transformation.

Wing Kin Leung, chief technology officer in the marketing and solution sales department of Huawei Enterprise Business Group, announced the release of the products – FusionServer V5 platform, CloudCampus, and the FusionPower5000-S uninterruptible power supply for large data centres in Southeast Asia – at the Huawei Asia Pacific ISP Summit 2018.

“Our main aim is to help customers address management issues, especially for industries related to public services in developed and developing markets. We tend to apply them to all industries but some will enjoy more benefits,” he said.

Leung said the tangible benefits could first be seen in industries such as retail, hotels and education thanks to the rising demand by government offices and enterprises. He foresees growth in demand in Southeast Asia, as many countries in the region are embarking on digital transformation.

“These solutions come out on the basis that ISPs need to address ongoing challenges. We aim to help improve ISPs’ efficiency for management and maintenance. Benefits to end users will largely depend on ISPs in their respective countries,” he said.

According to Leung, no one nation in the region is more important than the others, but he believes timing is key to the growth prospects for Asean countries.

“All the markets are important but timing will differ,” he said.

“If a country’s infrastructure is more advanced, they will enjoy the benefits at an earlier time. For example, in Southeast Asia, Singapore has a quite advanced infrastructure in place so they are more likely to enjoy tangible benefits at an earlier time,” he said.

Leung believes Thailand can be among the earliest movers in terms of digital transformation, as ISPs are doing a great job in the country.

“Thailand is an important market for us in Southeast Asia. We believe it can enjoy a pretty advanced situation because it has a good foundation of infrastructure in place,” he said.

“Data centre services are also enjoying large growth in the Thai market. So it is a market that is improving on a yearly basis. We hope Thailand will grow very rapidly because it has a very good infrastructure.”

Leung said the firm, as a provider and innovator of cloud services and infrastructure, would strive to help ISPs quickly transform by building cloud data centres with unified cloud management, application acceleration, agile provisioning, and energy conservation.

The firm provides solutions for more than 1,000 ISPs in over 50 countries. Leung, however, admitted that only 10 per cent of its global customer base comes from the rest of Asia, excluding Japan, Korea, and mainland China.

He said the countries that have the highest demand for cloud computing will enjoy more benefits than others.

“If you look at Southeast Asia, some countries like Singapore, Malaysia and Thailand have high requirements for computing,” he said.

Qiu Lei, vice president of marketing and product solution sales department of Huawei Enterprise Business Group, said the firm would enable ISPs to achieve digital transformation and remain competitive in the digital era by adhering to its “platform + ecosystem” strategy.

“We work with partners to meet customers’ requirements on fast service deployment, elastic resource release, Big Data analytics, ultra-broadband data centre interconnection, and VR and HD service access,” he said.

Lei said that empowering ISPs would include providing innovative one-stop ICT hardware and software infrastructure featuring cloud-pipe-device synergy to build an open and secure digital platform.

Bangkok Airways eyes CLMV market

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http://www.nationmultimedia.com/detail/Corporate/30344974

Bangkok Airways eyes CLMV market

Corporate May 09, 2018 17:31

By The Nation

Bangkok Airways has partnered with Thailand Convention and Exhibition Bureau (TCEB) to kick-off its campaign to attract meeting and incentive groups from the Cambodia, Laos, Myanmar and Vietnam (CLMV).

The “Fly and Meet Double Bonus” promotion for Myanmar was launched by Bangkok Airway’s sales chief, Varong Israsena Na Ayudhya, and TCEB’s director, Puripan Bunnag, at the Chatrium Hotel in Yangon.

Varong said: “With Bangkok Airways’ strong presence as a full service carrier in CMLV, as well as its flexible flight connectivity within domestic Thailand, linking the MICE cities [Bangkok, Phuket, Khon Kaen, Pattaya and Chiang Mai], we strongly believe this partnership will attract a growing number of CLMV business travellers into the country.”

The campaign offers a series of benefits and incentives for travel groups. For VIPs arriving at Bangkok’s Suvarnabhumi International Airport, TCEB will provide a special MICE lane with a fast-track service through immigration. It will also offer a financial subsidy up to Bt300,000 per group. Options for cultural visits, meet-and-greet services or Thai craft demonstrations of equivalent value to their financial subsidies will also be available.

Bangkok Airways says it will provide one complimentary ticket for every group of 50 passengers, FlyerBonus double points, an additional 10kg of baggage allowance, pre-assigned group seating, a special check-in counter, pre-check-in service, priority tagging and souvenirs.

To qualify, the inbound group must comprise at least 50 delegates, enter Thailand on a Bangkok Airways flight and stay at least two nights at a registered hotel or hold an activity at a venue certified by the Thailand MICE Venue Standard. The promotion campaign is applicable in all the four CLMV countries until September 2019.

KBank launches ‘wellness’ finance programme

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http://www.nationmultimedia.com/detail/Corporate/30344971

KBank launches ‘wellness’ finance programme

Corporate May 09, 2018 15:56

By The Nation

Kasikornbank (KBank) and the Wellness Department Store Co, Ltd, a provider of hotels and spas, have co-launched a “Wellness leasing” project to provide a one-stop service, including financial services and knowledge for hotel and spa operators.

Under the partnership, KBank will offer financial help, while Wellness will screen customers with growth potential and a positive business background.

KBank forecasts that there will be more than 100 participants in the loan programme which is expected to offer around Bt1 billion in loans this year.

KBank is going to grant loans for hotels, featuring long-term and overdraft loans (OD) with repayment periods of up to 10 years offered to registered hotel operators, and loans for spa business which includes long-term loans, OD and promissory notes for up to 10 years.

Moreover, loan packages are also offered to applicants requesting loans before March 31, 2019, who are entitled to a 0 per cent interest rate plus a special installment plan for a period of six months for loans of up to Bt3 million.

Pipavat Bhadranavik, KBank vice president, said Thai spas had potential for further growth, in line with the worldwide health-consciousness trend that was thriving.

Aesthetics, anti-ageing, spa and wellness tourism in Thailand reported a market value of Bt136.5 billion in 2017.

EXIM Thailand names new chief in corporate business

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http://www.nationmultimedia.com/detail/Corporate/30344962

Moree
Moree

EXIM Thailand names new chief in corporate business

Corporate May 09, 2018 14:19

By The Nation

The Export-Import Bank of Thailand has appointed Moree Preechasammakul as first vice president in charge of its Corporate Business 5 Department to oversee financial services provided to large corporate customers and to entrepreneurs engaged in export and investment, both domestically and overseas.

Moree holds an MBA in finance from Chulalongkorn University and a bachelor of business administration in marketing from Assumption University.

She formerly worked as assistant vice managing director of Regal Jewelry Manufacture.

Prior to joining EXIM Thailand, she was first vice president and team head of relationship management, corporate banking segment, at TMB Bank.

Bangkok Bank taps OurCrowd resources for equity crowdfunding

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http://www.nationmultimedia.com/detail/Corporate/30344960

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Bangkok Bank taps OurCrowd resources for equity crowdfunding

Corporate May 09, 2018 14:13

By The Nation

Israel-based equity crowdfunding firm OurCrowd on Wednesday announced its expansion in Asia in partnership with Bangkok Bank (BBL).

OurCrowd will give BBL clients deeper exposure to Israeli and global technologies.

Chief executive Jon Medved said Thailand is the second-largest economy in Southeast Asia and the partnership gives both BBL and OurCrowd an opportunity to expand in the region’s rapidly growing ecosystem.

BBL customers will have direct access to the portfolio of one of the world’s largest equity crowdfunding platforms, which has raised US$700 million among 25,000 investors in 150 countries for 150 early-stage companies.

OurCrowd entered the Asian market in 2015 as a provider of global alternative-business development and investment opportunities. Its other partners in the region include United Overseas Bank in Singapore, Shanghai Commercial Savings Bank in Taiwan, Citic Pacific in Hong Kong, Reliance Private Client in India, and National Australia Bank.

Kerry adding 8,000 new trucks, motorbikes

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http://www.nationmultimedia.com/detail/Corporate/30344959

Kerry adding 8,000 new trucks, motorbikes

Corporate May 09, 2018 14:09

By The Nation

Kerry Express (Thailand) has ordered more than 8,000 new four-wheel trucks and motorcycles to support its expansion plan for 2018 and 2019.

“Our Q1 delivery volume grew 121 per cent year-on-year,” said deputy general manager Warawut Natpradith, “and we continue to have a strong demand in new, practical and economical delivery vehicles. Kerry Express has one of Thailand’s biggest fleets.”

This investment will allow part of the old fleet to be replaced and for more than 5,000 new delivery routes to be added to the company’s national network.

OTOP FUNDS APPROVED

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http://www.nationmultimedia.com/detail/Economy/30345195

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OTOP FUNDS APPROVED

Economy May 12, 2018 01:00

By The Nation

One Tambon, One Product Committee (OTOP committee) has approved a budget of Bt901 million to promote OTOP products for fiscal year 2018-2019, director-general of Business Development Department of Commerce Ministry Kullanee Issadisal said after a meeting chaired by deputy prime minister Somkid Jatusripitak yesterday.

She added that as of May 9, sales from OTOP products reached Bt116 billion with whole year sales estimated at Bt153 billion, or up 20 per cent from Bt153 billion at the end of last year.

SMART CITY PLANS

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http://www.nationmultimedia.com/detail/Economy/30345192

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SMART CITY PLANS

Economy May 12, 2018 01:00

By The Nation

The Intelligent City Development Board has approved six master plans for the development of the intelligent city in the Eastern Economic Corridor (EEC), Deputy Prime Minister Prachin Chantong said after a meeting yesterday.

He said the six plans involve smart community, smart environment, smart mobility, smart energy, smart economy, and smart governance as part of a drive to turn the EEC area – covering Rayong, Chongburi, and Chachensoa, into a innovative and digital city.

The government will provide more facilities and infrastructure for the area, Prachin said.

PANEL SEEKS TO EASE IMPACT OF RULE CHANGE

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http://www.nationmultimedia.com/detail/Economy/30345190

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PANEL SEEKS TO EASE IMPACT OF RULE CHANGE

Economy May 12, 2018 01:00

By The Nation

The subcommittee on education measures to reduce the impact from the adoption of new accounting standards of financial instruments (IFRS9) has agreed to collaborate with the Bank of Thailand and the Federation of Accounting Processions, under the Royal Patronage of His Majesty the King, to minimise the disruption to businesses and decide the date of implementation.

The subcommittee comprises representatives from the Federation of Accounting Procession, Securities and Exchange Commission of Thailand, Bank of Thailand, Joint Standing Committee on Commerce, Industry, and Banking, Fiscal Policy Office of Finance Ministry, and Business Development Department of Commerce Ministry.

Commerce Ministry’s permanent secretary Nantawan Sakuntanak said after the meeting yesterday that IFRS is the financial reporting standards used in 140 countries and Thaland should also adopt it. .

The collaborative parties will forward their proposals in their next meeting.

Benefits of loan reform touted

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http://www.nationmultimedia.com/detail/Economy/30345182

Benefits of loan reform touted

Economy May 12, 2018 01:00

By   THE NATION

THE Ministry of Finance has sought to clarify that a proposed law covering financial services providers will seek to smooth out some of the wide variations in the interest they charge across loan types and bring more operators under the government’s regulatory control.

Pornchai Thiraveja, a spokesman for the Ministry of Finance’s Fiscal Policy Office, said the draft bill on supervision of financial service providers – which is yet to clear the public hearing stage – would not fix the interest rates to be collected by the financial companies, but the rate-setting process would be guided by attention to achieving greater harmony across the categories of loans offered.

Pornchai cited as an example that nano-finance providers would be required to set interest rates equal to those currently levied by Pico finance service providers, while hire purchase firms would provide finance at the same rates as those set for leasing loans.

Now, many businesses are free to set interest rates in the loan types without reference to the rates offered for other loan categories.

If any business does not set its interest rates, it must refer to the civil and commerce law.

The draft bill stems from the government’s efforts to protect consumers and to ensure the systematic and efficient supervision of financial service providers, such as those offering hire purchase, leasing and factoring products.

Some of these companies have not fallen under the government’s regulations and officials have been concerned that such operators may have inadequate standards for their operations.

Under the draft bill, a committee to oversee and supervise financial service providers will be set up to promote independence and flexibility.

An anonymous source at a hire purchase business said that hire purchase businesses run by financial institutions or their subsidiaries are supervised by the Bank of Thailand and the Ministry of Finance. The interest rate charged is set at no more than 15 per cent a year, aside from fees and other expenses, if any.

However, those hire purchase businesses operated by non-bank financial institutions have not been subject to any regulations in terms of the interest rates they charge. As such, they lack any supervisory unit, the source said.

Some companies charge management fees at 8-10 per cent, coupled with the 15 per cent interest rate cap as legally set. Therefore, the effective rates taken in combination are higher than the legal requirement. In such circumstances, these companies are seen as having taken advantage of consumers. The Ministry of Finance has been seeking to address this issue.

Chuchat Petaumpai, executive chairman of Muangthai Capital Plc (MTC), said that the draft bill on supervision of financial service providers that are not regulated by the central bank, or the bill on non-bank financial institutions, is expected to come into effect late this year as the latest.

The public hearing stage has not yet included the issue of interest rates taken in combination with fees that leads to an effective rate of more than 15 per cent. Consideration of this would be the responsibility of the nine committee members – representatives of the BOT, the Ministry of Finance and other experts – to be appointed after the bill comes into effect, Chuchat said.

However, he expressed no concern over the issue as, earlier, the BOT had set the rate cap levied on nano-finance loans at 36 per cent and personal loans at 28 per cent.

He expected the to-be-determined rates to result in no impact for MTC.

It has been announced that the coordinator of a group to protect debtor rights plans to file a lawsuit in a civil court alleging that MTC charged interest on loans above the legal limit of 15 per cent.

Chuchat said that he is not troubled by the prospect for such an action, as the law, stipulates that interest rates can be charged at 15 per cent. It also indicates that the rates of service fees, fines and collection fees shall be set as appropriate, but not determining the fixed rates, Chuchat said.