ESTATE GURU

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http://www.nationmultimedia.com/detail/Real_Estate/30346023

ESTATE GURU

Real Estate May 23, 2018 01:00

By The Nation

Launches of three home properties this year

Property firm Estate GURU Co Ltd plans to launch three new residential projects , worth Bt880 million, said the company’s managing director Sorayut Manasomjit said at press conference yesterday.

The three new projects are Wiztown Project at Petchkasem 91, Wiztown Project at Pattaya Khao Talo, and Wiztown Project at Khoo River Pluag Daeng, he said.

LPN Bt627m land purchases for three condo projects

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http://www.nationmultimedia.com/detail/Real_Estate/30345935

Opas Sripayak
Opas Sripayak

LPN Bt627m land purchases for three condo projects

Real Estate May 22, 2018 01:00

By The Nation

2,408 Viewed

Listed property firm LPN Development Plc will spend Bt626.57 million to purchase three vacant land plots on Suthisarn and Ruegpracha roads in Bangkok, and another site in Samut Prakan province.

The three plots are earmarked for condominium projects worth a total of Bt3.5 billion, said the company’s chief executive officer Opas Sripayak in a report to the Stock Exchange of Thailand yesterday.

The projects will be launched this year.

Magnolia and One.Six tie up for Thong Lo condo project

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http://www.nationmultimedia.com/detail/Real_Estate/30345915

Magnolia and One.Six tie up for Thong Lo condo project

Real Estate May 21, 2018 15:14

By The Nation

Property developer Magnolia Quality Development Corp has signed a joint-venture shareholders’ agreement with One.Six Development Corp to develop a condominium project, The Strand, at Soi Thong Lo (Soi Sukhumvit 55) in Bangkok.

The agreement was signed on Monday by Magnolia chief executive officer Visit Malaisirirat and Tanyatip Chearavanont, CEO of One.Six Development, at Magnolias Ratchadamri Boulevard.

Tanyatip and Chawin Athakravisunthorn, managing director and co-founder of One.Six, said the collaboration with Magnolia would help their company introduce new lifestyles, freeing up residents’ time and enhancing their quality of life.

Major changes to the property lease contract law

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http://www.nationmultimedia.com/detail/Real_Estate/30345846

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Major changes to the property lease contract law

Real Estate May 21, 2018 01:00

By   SPECIAL TO THE NATION

FROM MAY 1, onwards, residential property leasing became a “contract-regulated business”.

This means lessors need to check their agreements fully comply with the criteria in the Committee on Contracts’ notification.

Making those checks isn’t easy, especially for the commercial terms and conditions. But this article will give you an outline of the major changes and how they could affect your property lease business.

To what extent does the non-compliance affect business operators?

Lessors should ensure that the agreements contain mandatory provisions and do not include any prohibited provisions. Non-compliance will lead to the limit of force and effect of the agreement as well as punishment of imprisonment and a fine of up to Bt100,000 being imposed on the company, directors and responsbile persons in the case of juristic lessors, or directly to the individual lessors/owners.

Specifically, the provisions are different from those specified by law will be interpreted to have the same force and effect as those specified by law and prohibited provisions will not be legally enforceable.

Who does the notification apply to?

Companies or individuals with a residential property lease business that leases or subleases five or more property units to individual tenants. Property types include houses, condominiums, apartments and other units used for residential purposes. It doesn’t include dormitories and hotels. This notification has no retrospective effect, so only agreements made on or after May 1 are affected.

What’s new?

For an agreement to meet the new criteria it must be made in Thai and in duplicate. It also has to include at least the following items:

l Details of the business operator, tenant and the leased property.

l The term of the lease, the start date and the end date.

l The rental rate showing the method used to calculate the rent and payment due date.

l The public utility fee rates, showing the method used to calculate them and the payment due date.

l Service expense rates and any other expenses rates, showing the method used to calculate and the payment due date.

l The security deposit amount.

l Specific obligations of the lessor and the rights of the lessee, eg advance invoices, return of the security deposit, right of lessee to terminate the agreement, conditions of material breach of agreement, and handover of the signed agreement.

l Lessors need to also be aware of the prohibitions, limitations and waivers that need to be covered in the agreement. Some of these are:

l Waiver or limitation of the business operator’s liabilities arising from breach of agreement or tort.

l Limitations to the business operator’s commercial rights, eg to collect advance rent, to change the rental rates, to confiscate prepaid rent or security deposit, to overcharge for utility services, and to receive a contract renewal fee.

l Limitations to the business operator’s rights relating to operations and claiming of compensation, eg to inspect the premises without prior notification, remove and seize the tenant’s property if the tenant fails to pay rent, to terminate the lease without reasonable grounds, oblige the tenant to be liable for normal wear and tear, or damage not attributable to the fault of the tenant.

What do the changes mean for property lease businesses?

The changes may increase risks and decrease profits. From now on, lessors would be right to be more cautious when selecting tenants since their options for dealing with defaulting tenants have been limited. It’s possible the one-month security deposit won’t cover damage by a reckless tenant.

As lessors can no longer collect utility charges exceeding their actual cost this will lead to a decline in profits. Some business operators may decide to increase rent to make up for this shortfall but this will lead to more land and house taxes.

It’s possible that, in the course of business, lessors will notice other indirect impacts of the changes. It’s important to be observant and to keep track of your tenants and profits so that you will not be severely affected by the change of the law.

Contributed by VUNNIPA RUAMRANGSRI, Partner and ANUWAT NGAMPRASERTKUL, direcor, PwC Tax & Legal, Thailand.

Jury tells Samsung to pay big for copying iPhone design

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30346255

Photo : AFP
Photo : AFP

Jury tells Samsung to pay big for copying iPhone design

Breaking News May 25, 2018 14:59

A federal court jury on Thursday ordered Samsung to pay Apple $533 million (Bt17 billion) for copying iPhone design features in a patent case dating back seven years.

Jurors tacked on an additional $5 million in damages for a pair of patented functions. The award appeared to be a bit of a victory for Apple, which had argued in court that design was essential to the iPhone.

The case was keenly watched as a precedent for whether design is so important that it could actually be considered the “article of design” even in a product as complex as a smartphone.

“We don’t think it is supported by the evidence,” Samsung attorney John Quinn told US District Court Judge Lucy Koh after the verdict was read in her courtroom in Silicon Valley.

“We have every concern about the determinations about the article of manufacture.”

Quinn declined an offer by the judge to send jurors back for further deliberation, saying Samsung would pursue post-trial motions to address its concerns about the verdict.

Juror Christine Calderon said the panel agreed that one of the design patents — the grid of colored icons — did represent the whole phone, while the other two at issue in the trial were seen as the display assembly that gave the iPhone its look.

She compared it to the Mona Lisa: “you use the paint, but it is not the article of manufacture.”

“I had to really think about it,” the 26-year-old Calderon, a technical writer, said after Koh dismissed the jury.

“We kind of felt like we ended up at a happy medium.”

– Long legal road –

The case had been sent back to the district court following a Supreme Court decision to revisit an earlier $400 million damage award.

Apple reasoned in court that design was so integral to the iPhone that it was the “article of manufacture” and worth all the money Samsung made by copying the features.

The lower figure sought by the South Korean consumer electronics titan would have involved treating the design features as components.

The jury had been asked to determine whether design features at issue in the case are worth all profit made from Samsung smartphones that copied them — or whether those features are worth just a fraction because they are components.

Apple argued in court that the iPhone was a “bet-the-company” project at Apple and that design is as much the “article of manufacture” as the device itself.

The three design patents in the case apply to the shape of the iPhone’s black screen with rounded edges and a bezel, and the rows of colorful icons displayed.

Samsung no longer sells the smartphone models at issue in the case.

Two utility patents also involved apply to “bounce-back” and “tap-to-zoom” functions.

An original trial finding that Samsung violated Apple patents preceded a lengthy appellate dueling over whether design features such as rounded edges are worth all the money made from a phone.

– Technology vs Style –

Samsung challenged the legal precedent that requires the forfeiture of all profits from a product, even if only a single design patent has been infringed.

The US Supreme Court in 2016 overturned the penalty imposed on the South Korean consumer electronics giant.

Justices ruled that Samsung should not be required to forfeit the entire profits from its smartphones for infringement on design components, sending the case back to a lower court.

“Today’s decision flies in the face of a unanimous Supreme Court ruling in favor of Samsung on the scope of design patent damages,” the South Korean company said in response to an AFP inquiry.

“We will consider all options to obtain an outcome that does not hinder creativity and fair competition for all companies and consumers.”

Apple did not respond to a request for comment.

The key question of the value of design patents rallied Samsung supporters in the tech sector, and Apple backers in the creative and design communities.

Samsung won the backing of major Silicon Valley and other IT sector giants, including Google, Facebook, Dell and Hewlett-Packard, claiming a strict ruling on design infringement could lead to a surge in litigation.

Apple was supported by big names in fashion and manufacturing. Design professionals, researchers and academics, citing precedents like Coca-Cola’s iconic soda bottle.

The case is one element of a $548 million penalty — knocked down from an original $1 billion jury award  — Samsung was ordered to pay for copying iPhone patents.//AFP

PWJ eyeing 8% hike in earnings this year

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http://www.nationmultimedia.com/detail/Corporate/30346249

PWJ eyeing 8% hike in earnings this year

Corporate May 25, 2018 12:56

By The Nation

Panjawattana Plastics PCL (PWJ) is confident of achieving 8-per-cent growth in earnings this year thanks to recovery in the lubricant-container market.

President Wiwat Hemmanatharop said the company planned to introduce new products in the automotive parts market to help increase sales.

“The lubricant-container market is starting to recover and we are planning to rent a factory in China and try to double sales in China next year,” he said. “This will help strengthen our earnings performance significantly.”

Asset magazine honours KBank on cash management

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http://www.nationmultimedia.com/detail/Corporate/30346248

Asset magazine honours KBank on cash management

Corporate May 25, 2018 12:54

By The Nation

KBank has won three awards for its cash management from regional financial magazine The Asset.

It was recognised for Best Service Provider Cash Management in Thailand (an award it also won last year), Best Service Provider: E-Solutions Partner in Thailand, and Best in Treasury and Working Capital-LLCs.

Accepting the awards were executive vice president Silawat Santivisat, first senior vice president Kitiya Rerkpooritat and executives of the Cash Management Department.

Change of locale won’t slow B Grimm power projects

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http://www.nationmultimedia.com/detail/Corporate/30346247

Change of locale won’t slow B Grimm power projects

Corporate May 25, 2018 12:53

By The Nation

B Grimm Power Plc has confirmed that its two major power projects, with a combined generating capacity of 240 megawatts, will proceed as planned despite a change of location.

President Preeyanart Soontornwata said the shifting of the project site from Ratchaburi to Samut Prakhan would not affect the scheduled commercial operation date, set for 2021.

The company is seeking permission from the Energy Regulatory Commission to change the location of the BGPR1 and BGPR2 co-generation facilities, she said.

At the same time, B Grimm has coordinated with the Electricity Generating Authority of Thailand (Egat), purchaser of the power supply, to make available a grid connection and substation at the new location.

Once approval is granted, B Grimm will commence construction. The plants are to be completed within 26 months, before the power sale agreement with Egat takes effect on June 1, 2021.

“We are striving to meet the timeline and no change is foreseen, at least for the time being,” Preeyanart said.

BGPR1 and BGPR2 were originally to be located in the planned VRM Industrial Estate in Ratchburi, but the Industrial Estate Authority of Thailand cancelled the estate development.

Preeyanart said that prompted her company to move the projects to the Asia Industrial Estate in Samut Prakhan, which is attracting local and foreign companies.

B Geimm’s facilities will strengthen the security of power supply not only for Samut Prakhan and Bangkok, but also the Eastern Economic Corridor, which requires significant electricity supply, Preeyanart said.

ILLEGAL HOTELS TO FEEL THE HEAT IN HUA HIN

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http://www.nationmultimedia.com/detail/Corporate/30346201

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ILLEGAL HOTELS TO FEEL THE HEAT IN HUA HIN

Corporate May 25, 2018 01:00

By The Nation

Prachuap Khiri Khan Governor Panlop Singhaseni yesterday said he has formed a committee to find a legal path to close 10 hotels in the resort town of Hua Hin that continue to operate in defiance of licensing laws.

The Online Travel Agent (OTA) system is the root of the problem, said Udom Srimahachota, vice-president of the Thai Hotels Association. Only 197 hotels in Hua Hin have proper licences while some OTA websites have posted 699 Hua Hin hotels for people to book daily-rented accommodation, said Udom.

Authorities should require the OTA post the hotels’ licence numbers in their ads, so that consumers could feel confident of the facilities’ safety standards, said Udom. His group has urged Tourist Police Bureau deputy chief Pol Maj-General Surachate Hakparn to crack down on illegal hotels in Hua Hin to prevent problems for tourists.

Following a May 15 complaint from provincial administrators accusing 10 hotels of forging state-issued documents, using the forged papers and illegally operating hotel businesses, the hotels have continued operating.

OFFICIALS STICK WITH

DEBT CAP AT 60% OF GDP

The State Monetary and Fiscal Policy Committee has decided to maintain Thailand’s public debt at no more than 60 per cent of the nation’s gross domestic product (GDP) in its meeting on annual monetary and fiscal disciplines on Wednesday.

Chaired by Prime Minister Prayut Chan-o-cha, the committee set the government debt at no more than 35 per cent of the estimated recurring revenue, and foreign currency-denominated public debt at no more than 10 per cent of the total public debt.

The foreign currency-denominated public debt is set at no more than 5 per cent of total income from the exports of products and services.

The budget for the government and state agencies’ principle repayment is set at no less than 2.5 per cent but no more than 3.5 per cent of annual expenditure budget, while the additional expenditure budget for emergency or necessary cases is set at no less than 2.0 per cent but no more than 3.5 per cent of the annual expenditure budget. – The Nation

Lifestyle retailer plots growth

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30346148

The Mumuso lifestyle shop at Siam Square One in Bangkok enjoys high shopper traffic.
The Mumuso lifestyle shop at Siam Square One in Bangkok enjoys high shopper traffic.

Lifestyle retailer plots growth

Corporate May 24, 2018 01:00

By KWANCHAI RUNGFAPAISARN
THE NATION

INTERNATIONAL lifestyle retailer Mumuso plans to open up to 20 franchised stores in Thailand by the end of next year, and up to 150 in the next five years, seeking to attract Thais to Korean design for quality products that offer value for money.

Mumuso, which operates more than 600 stores around the world, yesterday announced the expansion plan that builds on the opening of its first store in Thailand last year.

The Mumuso brand originated in Shanghai and promotes lifestyle products with a Korean flavour.

The brand moved into Thailand in August 2017 with a Mumuso lifestyle shop opening in The Mall Nakhon Ratchasima.

Pakorn Supawarapong, strategic director of Mumuso (Thailand) Co Ltd, said that the company sees a growth opportunity in the retail market in Thailand, including the expansion of specialty stores.

“It’s not all about e-commerce these days as the trend for specialty stores is something we all need to be aware of, ” Pakorn said.

“We now operate six company-owned stores as well as one franchised outlet. We target to open at least 150 stores in the Kingdom over the next five years, of which half will be company-owned stores and the rest with franchisees.

“We expect our annual sales to reach Bt2 billion in the next five years. We target to achieve Bt200 million in annual sales this year.”

Amnuay Supawarapong, president of Mumuso (Thailand) Co Ltd, said that Mumuso is a lifestyle shop brand that enjoys popularity worldwide.

The lifestyle shop gathers under one roof good-quality merchandise with contemporary designs from Korea, Amnuay said.

There are more than 600 branches of Mumuso lifestyle shops in 150 cities around the world. In Thailand, the six Mumuso are in Siam Square One in Bangkok, Supanburi, Bang Saen in Chon Buri, The Mall Nakhon Ratchasima, Samut Sakhon, Ayutthaya, and in Phitsanulok. The Phitsanulok shop, which opened early this month, became the company’s first franchised outlet in Thailand.

“The aim of Mumuso is to offer impressive experiences to individual customers via the use and touch of products themselves at our lifestyle shops,” Amnuay said. “The products are based around three core values – quality, design and raw materials. We (Mumuso) set out to never stop innovating in product development and the quality of our service.

“We tend to provide products that are affordable to everybody, and to raise the quality of living of the society and the communities we are involved in. This is in line with Mumuso’s philosophy, which is ‘Life starts with Mumuso’.”

Pakorn said that the name Mumuso has its origins in the Korean word “Mugunghwa”, which means the Rose of Sharon. It is a symbol that represents targeted Korean people, who are students and people in general walks of live in any career, male and female, aged between 15 and 50.

“They prefer products with beauty and contemporary designs. The targeted customers of Mumuso also include travellers, who demand products for their daily uses. All products at Mumuso lifestyle shops have been selected and tested for the good quality standards set by the company,” Pakorn said.

“From our market survey in Thailand, we found there are an increasing number of consumers who are willing to spend money on products that cater to their lifestyles,.

“They have less loyalty to brands, but are selective for good quality and value for money products. With these encouraging factors, we have seen a gap in this potential market to be further penetrated by Mumuso.”

Pakorn said the retail prices of products at Mumuso lifestyle shops start from Bt39. Most of them are fast-fashion items, which are flexible to adjust to changing times and occasions. There are about 3,000 different items of merchandise at Mumuso lifestyle shops covering children’s products, apparel, kitchen items, bags, stationery, skincare and cosmetic goods.

“Mumuso’s skincare and cosmetic products are especially popular with Thai consumers due to their good quality and attractive packaging,” Pakorn said.

The company has set aside Bt150 million as an operational budget for this year, focusing on sales promotional activities at its Mumuso stores, such as for new-store openings, price promotions, free new member applications for customer loyalty points, and social media activities on Mumuso’s Facebook and Instagram accounts.

The budget will also include point-of-sales advertising, special activities for festive seasons, and co-promotions with partnered department stores. The company expects to achieve about Bt200 million in sales this year.

Alissara Supawarapong, managing director of Mumuso (Thailand) Co Ltd, said that, in terms of business direction, a significant channel for the growth of Mumuso’s business in Thailand is via franchising.

“We believe that Mumuso will secure strong interest from individual investors who want to start their own business with an appropriate investment budget. Each Mumuso lifestyle shop requires between 80 and 200 square metres of retail space, in high-traffic and accessible locations,” Alissara said.

“The store will take about one and a half years to achieve a return on investment.

The brand will, however, provide individual franchisees a one-stop service, which includes informative training on franchise management, as well as marketing activities for the lifestyle shops and product trials so that they will enjoy in-depth understanding on product quality.”