Monthly Archives: May 2019

SCB wants developers on board

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Tana Pothikamjorn, left, EVP and Head of Digital Platform, and Kaweewut Temphuwapat, ,right, Head SCB10X, Siam Commercial Bank
Tana Pothikamjorn, left, EVP and Head of Digital Platform, and Kaweewut Temphuwapat, ,right, Head SCB10X, Siam Commercial Bank

SCB wants developers on board

Tech May 25, 2019 08:23

By The Nation Weekend

Siam Commercial Bank (SCB) has launched a banking application programming interface (API) that allows system developers to use the bank’s developer web portal to create products and services.

Tana Pothikamjorn, executive vice president and head of digital platform at SCB, said that to advance the bank on the path of what he called a full open bank, it was important to create a practical ecosystem.

SCB is confident that API access will propel SCB to full open bank status. Under the arrangement, system developers will be able to use the https:\developer.scb portal.

At present, providing technology services is conducted by seeking business partnerships to tap different customer groups. Providing access to an open API will enable developers, businesses, and companies to adopt SCB’s API to further develop their businesses and better align them with their business targets.

Tana said SCB’s open API will be able to cover new target groups more extensively, while enabling its partners to customise their products to more easily respond to customer demands with better products.

The open API, a channel to link applications to allow the exchange of data between different software platforms, will be a critical part in creating a digital economy ecosystem.

Leading firms in many countries have provided API access to share resources for independent developers for experimentation and learning that will lead to the research and development of financial products and services offering the best experience for customers.

To allow application developers to expand their application ideas, SCB is the first Thai bank to open its API to external developers by linking with its developer portal web for loan origination, payment, QR payment, sharing customer profiles and authentication, said Tana, adding that other services would be coming soon.

“Allowing API linkage for system developers will enable SCB to launch new products covering more industries, letting target customers access services more easily and quickly and let the bank reach broader target groups faster. This will help raise service standards through learning from their requirements and their real behaviour,” Tana said.

“Developers can access SCB’s API via the developer web portal, which will allow them to read documents and methods for linking their applications with SCB’s. The portal also provides SCB with simulator apps to allow application developers to conduct tests covering all scenarios instantly in a sandbox environment.”

The bank is holding an “Open Banking API Hackathon event by SCB”, offering opportunities for new generation application developers to freely link with the bank’s API.

Kaweewut Temphuwapat, head of SCB10X, said: “SCB10X understands the problems of users. We believe that many developers can provide solutions for daily financial problems and Thai developers are no less capable than those in other countries. It is the bank’s keen interest to create a venue for developers to help solve problems to better improve the quality of life. On the other hand, developers can prove themselves and demonstrate their capabilities.

“Therefore, the bank is allowing developers to make use of its open banking API to develop products. This is why we want developers to compete at the Open Banking Hackathon by SCB event to create solutions, which will be held from June 21-23 at the Nap Lab Chula.

“The event allows developers in any field or web/mobile application to compete.

“What SCB would like to see from the Open Banking Hackathon event is the dissemination of information to create mechanism for the future

of our country’s financial ecosystem using open banking API.”

NetApp boasts to power data-driven organizations to succeed

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NetApp boasts to power data-driven organizations to succeed

Tech May 24, 2019 11:07

By The Nation

NetApp has announced NetApp ONTAP 9.6, the new midrange, end-to-end NVMe AFF A320 storage system and an expanded portfolio of services to help businesses maximize the value of their data.

NetApp’s cloud-connected flash solutions, an element of a Data Fabric strategy, provide the simplicity, operational efficiency and protection needed to support innovation, add unprecedented performance and power the most demanding data sets and technologies, such as artificial intelligence or 5G networks. Only NetApp delivers everything that companies need to build their own unique Data Fabric that spans public cloud, private cloud and on-premises environments. With NetApp solutions, this Data Fabric can deliver applications that engage users and can provide analytics that turn insights into a competitive advantage, NetApp said in a press statement.

“As enterprises evolve to new, more data-centric business models where data is a key strategic resource, data availability requirements are on the rise,” said Eric Burgener, research vice president, Infrastructure Systems, Platforms and Technologies Group, IDC.  “NetApp’s cloud-connected flash solutions, coupled with their Data Fabric strategy, provides the performance, availability, agility and simplicity enterprises undergoing digital transformation need in their hybrid cloud infrastructure to create and leverage innovative business opportunities.”

“In advances that are coming our way, like 5G networks, we can see that a company’s ability to generate, gather and disseminate a massive volume of data will be enabled like never before and companies that aren’t ready are going to be overwhelmed,” said Joel Reich, executive vice president, Storage Systems and Software, NetApp. “With NetApp ONTAP, organizations can overcome the challenges introduced by these data-intensive technologies and cutting-edge innovations with a smart, powerful, and trusted solution that maximizes the value that organizations can derive from data.”

Maximizing Value in the Hybrid Cloud

By accelerating applications painlessly and by delivering simplicity and security for a future-proof infrastructure, ONTAP 9.6 data management software allows organizations of all sizes to maximize the value of data and take on new data-driven initiatives. ONTAP 9.6 includes the following enhancements:

  • Expanded NVMe over Fibre Channel (NVMe/FC) ecosystem now includes VMware ESXi, Microsoft Windows, and Oracle Linux hosts, in addition to Red Hat and SUSE Linux, with storage path resiliency. Organizations can experience NVMe/FC performance for most workloads.
  • FabricPool now supports Google Cloud Platform and Alibaba Cloud, in addition to Microsoft Azure, Amazon Web Services (AWS), and IBM Cloud Storage. Organizations can lower the cost of primary storage by automatically tiering cold data to any major public cloud or to a NetApp StorageGRID® private cloud.
  • NetApp FlexCache® software now supports NetApp Cloud Volumes ONTAP, allowing organizations to experience the benefits of FlexCache in hybrid cloud deployments.
  • Over-the-wire encryption for NetApp SnapMirror® technology and FlexCache increases security for data replication and remote caching.
  • NetApp MetroCluster™ IP support for entry-level NetApp AFF and FAS systems now makes business continuity a cost-effective option for organizations, taking advantage of existing customer IP networks between sites.

New Midrange End-to-End NVMe System

Last year NetApp introduced the AFF A800, the industry’s first end-to-end NVMe system with industry-leading performance and unmatched data services that are backed by the industry’s most effective Efficiency Guarantee. With this announcement, NetApp has extended these benefits to the midrange market. The AFF A320 system enables customers to:

  • Accelerate traditional and emerging enterprise applications such as artificial intelligence and deep learning, analytics, and databases with extremely low latency.
  • Reduce data center costs by consolidating applications with a powerful system.
  • Future-proof their environment with NVMe technology, 100GbE Ethernet, and cloud integration.

Expanded Services Portfolio to Meet Broader Customer Needs

Customers can rely on NetApp standards-based best practices and expert engineers to improve efficiency and performance and to protect against business disruption and data loss. NetApp’s expanded services portfolio now includes:

  • SupportEdge Prestige offers a high-touch, concierge level of technical support that resolves issues faster through priority call routing. Customers are assigned a designated team of NetApp experts and receive specialized reporting, tools, and storage environment health assessments.
  • Tiered Deployment Service accelerates time to value for new NetApp technology and reduces the risk of improper installation or misconfiguration. Three new high-quality options include Basic, Standard and Advanced Deployment, each aligned to customer business objectives.
  • Managed Upgrade Service is a remotely delivered service that reduces security risks by ensuring NetApp software is always up to date with all security patches and firmware upgrades. 

MediaTek accelerates design of smart connected devices with IoT programme

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MediaTek accelerates design of smart connected devices with IoT programme

Tech May 24, 2019 10:38

By The Nation

MediaTek Thursday announced a rich IoT program to bring a series of AI-enabled chipset platforms to companies that want to innovate and develop products across the intelligent devices market.

The platform, based on open and industry standard software and hardware, is founded on MediaTek’s commercially proven chipsets that today power most voice, smart speaker, display-centric and AI-infused devices available globally, the company said in a press statement.

Under the new program, MediaTek is unveiling new chipsets that include powerful edge AI technology for voice, display, object recognition and other features needed for today’s smart IoT devices. In addition, MediaTek has aligned with independent design houses in China, Europe and the U.S., including BayLibre and StreamUnlimited. The design houses support the MediaTek chipsets with industry standard software and offer the needed hardware, software and technical support for companies designing AI devices with MediaTek’s AI IoT platforms, the statement added.

“We are bringing AI to mainstream Internet of Things products to make it easier for diverse industries to access MediaTek chipsets and technologies through a value-add partner network,” said Jerry Yu, MediaTek Corporate Senior Vice President and General Manager of the Intelligent Devices Business Group.

“The Internet of Things has entered its next phase. AI features are being integrated into nearly every type of consumer device imaginable. That means connected devices now require a processor to support AI applications, rather than a more limited microcontroller unit that has been historically used. MediaTek’s rich IoT program lets companies of all sizes bring devices to market with advanced AI, multimedia and connectivity features,” said Yu.

The AI IoT market is poised for growth as connected devices need to do more processing at the edge and are being integrated into new product lines. According to Market and Research, an industry research group, IoT will represent 83% of the entire AI chipset market by 2023. And globally, AI in the embedded IoT devices market will approach $26 billion (USD) by 2023.

The chipsets in MediaTek’s new program have a variety of standard-based support through the design houses, including an evaluation kit that will be offered to companies through Seeed Studios. Features supported on the platform through the design houses include:

– 4.19 Linux Kernel; Yocto 2.6; Android Pie 9.0

– OP-TEE (compatible with GlobalPlatform API specification)

– Amazon Voice Service with audio front end algorithms (wake-word engine, far-field)

– Connectivity such as Wi-Fi 5 and 4G.

MediaTek’s AI and rich IoT chipsets are highly integrated, boast ultra-low power consumption to maximize battery life and deliver superior computing power (including CPU, GPU and AI Processing Units) to support next generation AI devices. The chipsets have Arm’s TrustZone  security built-in and come with long term support – up to seven years –  for operating system updates and security patches.

MediaTek is already the No. 1 chipmaker for voice assistant devices (VAD), working with the world’s most well-known brands to power intelligent devices including smart speakers. With this new program, MediaTek wants to spur AI innovation by making it easier for enterprises, startups, emerging brands and leading OEMs in diverse markets to design IoT devices with AI capabilities such as face, object and voice recognition.

MediaTek is initially focused on three primary AI IoT segments with its rich IoT program:

– Voice Enabled Devices: To enable more products with voice assistant capability like smart speakers, washers and dryers, dishwashers, cooking appliances, smart locks and more.

– Display and Screen Devices: Products that need a smart display or act as a smart hub like thermostats, head-mounted displays, point of sale terminals, exercise equipment and more.

– AI Vision Devices: Products and devices that need to recognize objects or people like smart security systems, smart ovens, robots, drones and many other products that can benefit from AI recognition or computer vision technology.

Today’s IoT products need support for a camera, display, video, rich multimedia and connectivity. MediaTek has long focused on these core technologies and deep SOC integration. It’s one of the few companies that brings together all the necessary technologies for the mass deployment of connected AI devices.

MediaTek global collaborators have added their support for the new rich IoT program:

BayLibre innovates at the intersection of the semiconductor industry and the Internet of Things. The company authors board support packages and develops Linux & U-boot drivers for the semiconductor industry. BayLibre helps take OEMs to market by offering the open source Rity SDK for a full voice assistant-enabled audio solution.

“Developed in close partnership with MediaTek, the open source Rity SDK offers an exceptionally fast time to market for voice assistant devices without compromising the flexibility and quality expected by OEMs creating the next disruptive product in the IoT, Audio, and Voice Assistant market segments,” said BayLibre CEO  Michael Turquette.

StreamSDK is an industry-proven smart audio solution that powers multiple tier-1 voice assistant and streaming devices in the market. Jawad Haider, Head of Business Development and Partnerships for North America at StreamUnlimited said: “We’re expanding our offerings by adding dedicated IoT functionality to our SDK, that will help enable a plethora of new use cases centered around voice assistants, music streaming, and smart home functions. MediaTek’s rich IoT program will help usher in the next generation of intelligent audio products.”

Seeed Studios helps produce and provide global access to the next generation of AI enabled IoT products through its manufacturing and distribution services.  “Seeed Studio is proud to support MediaTek’s Rich IoT program. We bring over ten years of experience to the initiative utilizing our extensive supply chain network and providing agile manufacturing and global distribution services,” said Eric Pan, CEO of of Seeed Studios.

New land and property tax forces site owners to consider options

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New land and property tax forces site owners to consider options

Real Estate May 24, 2019 04:56

By   SPECIAL TO THE NATION

THE NEW Land and Property Tax that comes into effect in January 2020 will present a new challenge for the Thai property market.

Vacant land is one of the sectors to be impacted, particularly given that many unused sites remain in Bangkok.

The owners of these sites will, for the first time, have to start paying significant taxes once the new land tax is in effect. Many owners can be expected to develop some form of commercial use on these unused sites to generate sufficient income to pay the new tax and so avoid having to sell the land.

The risk for many owners is that in their rush to develop a commercial use, they create an even bigger financial burden for themselves through building inappropriate money-losing developments. Lacking expertise, experience and market knowledge, they risk building something for which there is no demand and so end up owing the bank far more than the cost of the property tax.

Commercial office, retail or residential rental developments will not be feasible on many sites due to either the location or size of the land.

Those owners may also lack the commercial expertise or financial resources to develop the site themselves.

Landowners first need to calculate how much tax they will have to pay and then carefully examine their options to earn income from developing on their sites.

For example, renting parking spots may be the best solution in locations where people own cars but there is insufficient residential parking. In many Japanese cities, it is common to see even small land sites being used for commercial rental parking.

The sites are covered in asphalt and have automatic parking systems usually run by a third party.

Although parking rates are much lower in Thailand than in Japan, developing car parking may be the easiest way to generate income on many sites and requires the lowest level of capital outlay by the owner.

A second alternative for some owners could be leasing out the site to a third party.

Leasing land could be done for either the short term or long term, but again only certain locations offer development potential along with demand from third-party tenants.

For some landowners, finding additional revenue may simply |be too difficult and, faced with |the burden of the new tax, |they may decide to sell.

After 2019, we believe there will be more sites available for sale and the mechanism of supply and demand will reduce the difference between asking prices and what purchasers are actually able and willing to pay.

Another question being raised, but so far without a clear answer, is the definition and interpretation of “land usage”, especially regarding agricultural land, which will be taxed at a lower rate than other land use. We will have to wait for the details to be found in the supplementary laws that are expected in July 2019.

ALIWASSA PATHNADABUTR is the managing director of CBRE Thailand.

GHB wants housing support measures as loans shrink

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Chatchai
Chatchai

GHB wants housing support measures as loans shrink

Real Estate May 24, 2019 04:56

By   SOMLUCK SRIMALEE
THE NATION

GOVERNMENT Housing Bank (GHB) is calling on the Finance Ministry to introduce measures to boost the property market in response to loan-tightening measures that came into effect last month.

The bank’s president Chatchai Sirilai said the value of home loans written out by GHB had plunged 35 per cent drop since the introduction of new loan-to-value (LTV) ratios on April 1, highlighting the need to shore up the residential market.

Under the measures, the loan value for buyers of a first home has been reduced to about 90 per cent of the value of the property; for second homes, the loan value has been limited to 80 per cent of the property value; and for third homes, the loan limit has been set at 70 per cent.

In April, the first month of the new measures, the value of home loans extended by the bank has dropped 35 per cent from the same month last year, to only Bt9 billion.

From May 1 to 15, the bank has approved just Bt4.5 billion in loans, also representing a drop of 35 per cent from the same period last year, Chatchai said.

He said the measures had directly impacted the property sector and, for the bank, it meant that GHB would not be able to meet its loan target of Bt203 billion for this year if the government does not bring in market-supporting initiatives or discuss ways to ease the loan rules with the Bank of Thailand.

“We cannot say what we proposed. However, the Finance Ministry has to discuss ways with the Bank of Thailand on how it can revise the measures. If no new measures are introduced to boost the market in the second half of this year, our new loans may end up being lower than our early target,” Chatchai said.

GHB said its new mortgages for the year to May 15 came to Bt57.54 billion. The bank expects its new mortgage loans will reach Bt100 billion in the first half of this year, on expectations of government measures to boost the property market.

The bank had outstanding loans of Bt1.128 trillion at the end of March, up 7.88 per cent from the same period of last year. Its non-performing loans stood at Bt49.295 billion at March 31, or 4.37 per cent of its total outstanding loans. This marks a rise of 0.03 per cent from the end of 2018.

The bank also plans to introduce what it calls a savings lottery, worth Bt107 billion over this year and the next. This is part of efforts to reduce the bank’s financial costs from 2.04 per cent to 1.7 per cent.

“We are issuing the savings lottery as a funding exercise that reduces our financial cost for mortgage loans, which will be offered for lower-income people who buy homes priced below Bt1 million,” Chatchai said.

“They will get an interest rate for the mortgage loan of not over 3 per cent, compared with general customers who will get a loan with interest of 4.5-6 per cent. The loans for the general customers will draw on the capital from our normal business.”

It is planned that the first phase of the three-year saving lottery will be in September; it will be worth Bt27 billion with an interest rate of 1.4 per cent and be offered under a Bt1 million per savings lottery.

Chatchai said that the customers participating in the savings lottery will get the opportunity to win in a lucky draw worth up to Bt200,000 a month. The second phase, worth Bt30 billion, will be sold at Bt10 million per savings lottery and is likely to be issued at the end of this year or in the first quarter of next year. The last phase, worth Bt50 billion, will be offered to customers at a price of Bt500 per savings lottery next year, Chatchai said.

The bank has approved a loan package for lower-income earners totally 6,300 contracts who buy a home priced at under Bt1 million. Under the promotion, one million residential units will be offered to people in this income group under a government policy launched on January 2.

Some 6,300 contracts worth Bt4.3 billion have been signed; 127,000 people had registered to apply for the loans.

The bank plans to invite more customers to register their interest in the campaign in September, with the subsequent loans issued to be covered under the Bt50 billion budget for the scheme.

“The Cabinet has already to approved the extension of the period of this campaign from the end of this year to 2021. This will provide time for lower-income customers to improve their financial situation in order to secure a loan when the bank launches the latest measures to help them,” Chatchai said.

Govt Housing Bank asks government to boost property market

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Govt Housing Bank asks government to boost property market

Real Estate May 23, 2019 01:00

By Somluck Srimalee
The Nation

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Government Housing Bank (GHB) has asked the government to take action to boost the property market, as the second quarter market has signed to drop by up to 30 per cent due to the BOT’s loan-to-value measure that kicked in on April 1, the bank’s president Chatchai Sirilai said

The Bank of Thailand’s new mortgage rule reduced the amount of permitted loans to about 90 per cent of residential value, 80 per cent for a second home, and 70 per cent for a third home, effective on April 1, 2019.

The bank approved Bt9 billion in new loans in April, a 35-per cent drop from the same month of last year. From May 1-15, approved loans totalled Bt4.5 billion, another drop of about 35 per cent below the same period in 2018, said Chatchai.

The measure has impacted directly on the property sector, Chatchai said. His bank cannot meet its loan-approval target of Bt203 billion this year unless the government takes action to support the market or holds talks with the Bank of Thailand to relax the rule for the government’s bank, he said.

“Commercial banks have other products that can reduce the impact from the loan-to-value rule, such as through providing personal loans together with mortgage loans. But we are the government’s bank and cannot to do like the commercial banks. As a result, our mortgage loans in April and for half of this month are lower than our target,” he said.

GHB has announced new mortgage loans totalling Bt57.54 billion from January till May 15, 2019. The bank also expects new mortgage loans will reach Bt100 billion in the first half of this year, close to its target. But it expects that the government will announce measures to boost the property market starting in the remainder of the second quarter of this year.

“If there are no new measures, our new loans may be lower than our early target,” Chatchai warned.

Keeping cool in a CRISIS

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John Heo, vice president, Southeast Asian operations, Emerson Commercial and Residential Solutions
John Heo, vice president, Southeast Asian operations, Emerson Commercial and Residential Solutions

Keeping cool in a CRISIS

Corporate May 25, 2019 01:00

By PHUWIT LIMVIPHUWAT
THE NATION WEEKEND

INSIGHTS forged in a crisis have proved enduring for John Heo, who took up an executive position in Thailand when the country was gripped by the Asian financial crisis.

He arrived in 1998 to sell airconditioners but, on the economic front, the heat was on. When the market in the cold chain industry collapsed a key decision was made. The employees were kept on as sales plunged.

For Heo, that move demonstrated the importance of fostering a strong relationship with the workers. Together with localisation, these principles are the key factors to managing a successful international business, he says.

“Business is essentially a form of relationship between different people with different interests,” says Heo, in laying out his philosophy for managing the business at Emerson Commercial and Residential Solutions, where he is vice president of the company’s Southeast Asian operations.

“Of course, we have products to sell. However, if we do not have a loyal workforce, a capable sales team and good customer relations with the top management, success will be difficult to achieve,” he told The Nation Weekend.

Heo, originally from South Korea, is a 27-year veteran with Emerson, which is engaged in the cold chain industry, selling products from air conditioners to refrigeration units. The firm targets various businesses within the cold chain, a supply chain of goods that need to be stored under controlled temperatures, such as fruit, meat and vegetables.

When he moved to Thailand in 1998, it was as the regional sales director for Southeast Asia for air conditioning – putting himself on the business front lines of one of the biggest economic disasters that the Kingdom has witnessed.

“Right before the economic crisis, Thailand had the biggest potential for the air conditioning business,” Heo says.

Around that time, Emerson had invested over US$100 million to establish a manufacturing centre on the Eastern Seaboard, the country’s manufacturing hub that has since been redubbed the Eastern Economic Corridor by the current government.

“With a manufacturing base located in Thailand, there was a strong sense that Emerson could grow at a fast pace in this country,” Heo recalls of the period.

However, the unfolding economic crisis sapped demand from the market, damaging Emerson’s prospects in the country.

“At that time, we had already hired roughly 400 workers in one year, but as the crisis occurred, demand for our products plummeted,” he says.

It was at this point that Heo began to put his business philosophy into practice.

“Despite the drastic fall in demand, we kept our employees and avoided making our workers redundant,” he says.

“We kept all our employees despite not having work for them to do. Instead, we used that time to continuously train our employees and give them the financial support that they needed so that they would be ready to work productively when there was a resurgence in demand. This went on for up to six months.”

When the economy started to recover in the early 2000s and new factories started to be established on the Eastern Seaboard, it was common for workers to move around as they tended to be drawn to firms that offered higher worker commissions, he says.

“However, because of what we did for our employees for six months, they became very loyal. They knew that we cared and that we did our best to keep them employed and supported them during an economic crisis,” Heo says. “Hence, our turnover rate was extremely low.”

After the crisis, Emerson’s business in Thailand grew as planned, and Heo was eventually promoted to vice president for the rest of Asia (excluding China) in 2009, and to vice president for Southeast Asia in 2016.

“To become a successful executive in an international business, you must have the flexibility to accept the different cultures,” says Heo, adding that this included both the work culture in the different countries and the local demand of the customers.

“Globalisation and localisation must go hand in hand,” Heo says. “Foreign firms may strive for international success with the vision of globalising their products and services. However, once you settle locally, the most important priority for a firm should be localisation.”

He suggests that firms should make it their top priority to gain a holistic understanding of the local culture, both at a level of the employees and the work culture, and the demands of local customers.

Heo embraces the term “glocalisation”, which combines the words globalisation and localisation.

“My aim is to work successfully in an international business with global success, but do so by localising in the particular country or region that I am responsible for,” Heo says. “To this extent, I believe I have done a good job.”

Thai Watsadu opens Bt500 million store in Ban Chang

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Thai Watsadu opens Bt500 million store in Ban Chang

Corporate May 24, 2019 17:46

By The Nation

CRC Thai Watsadu – a unit of Central Retail Corporation that operates home improvement centres under the brands Thai Watsadu, baan & Beyond, and Auto 1 – has opened a new Bt500 million store in the Eastern Economic Corridor (EEC).

Situated in the smart city of Ban Chang, Rayong Province, the new branch, which is the 49th Thai Watsadu store nationwide, will serve the local demand for home improvement, while also highlighting Thai Watsadu as a trusted one-stop home improvement centre, the company said in a press release on Friday.

The grand opening took place on Thursday.

Suthisarn Chirathivat, chief executive officer of CRC Thai Watsadu Ltd, said: “We work to continue expanding our reach and have already opened up three new stores this year at Nakhon Ratchasima Province, Nakhon Pathom Province, and Si Maha Phot in Prachinburi Province.

“Now we’re coming up with the latest store, our 49th store, at Ban Chang, Rayong Province, to address the demand for all kind of home products with reasonable prices for construction, fixing, and decoration purposes.

“Covering an entire area of 40,000 square meters, this new store has a showroom that spans over an area of 17,000 square meters and is conveniently located on Sukhumvit Road, a strategic location of the EEC that allows it to contribute to the development of the city. With well-developed infrastructure and transportation system in place – including Motorway 7, U-Tapao Rayong-Pattaya International Airport, Map Ta Phut Industrial Port, and the High-Speed Rail Linking 3 Airports Project, for example – this city has a lot of potential to become a smart city.

“Both private and public sectors, as well as the local people, have expected the city to enjoy economic growth from the EEC, resulting in rising land prices. Given foreign investors moving their production bases into Ban Chang area, the local real estate sector sees a promising growth from future investments in residential buildings, shopping malls, international schools, and hospitals, as well as retail businesses. As a result, Thai Watsadu has been working tirelessly to improve our brand image and product quality, create new services, and adjust our marketing strategy in response to the ever-changing consumer behaviours.

“Our major target customers include both old and new ones within 15 kilometres from the new store – an area with 130,000 households, more than 30 housing estates, and five industrial estates: Asia, Hemaraj Eastern Seaboard, Map Ta Phut Industrial Port, Phadaeng Industrial Estate, and RIL Industrial Estate.

“With this new store, we expect to make an interesting option for those looking for construction materials and home products, as well as related services that we provide using a team of experienced specialists – from 3D design, installation, and renovation, to fixing – and after-sales services that come with great care and a 180-day satisfaction guarantee.”

PTTEP guaranteed debentures get ‘AAA’ rating

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ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30369938

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PTTEP guaranteed debentures get ‘AAA’ rating

Corporate May 24, 2019 15:54

By The Nation

Thai Rating and Information Services (TRIS) has assigned a rating of “AAA” to the proposed issue of up to Bt10,000 million in guaranteed debentures offered by PTTEP Treasury Center (PTTEPTC).

The debentures are fully guaranteed by PTT Exploration and Production PLC (PTTEP). PTTEP is rated “AAA” by TRIS Rating. Therefore, the issue rating reflects the creditworthiness of PTTEP as the guarantor of the guaranteed debentures.

The rating on PTTEPTC’s guaranteed debentures is equal to the rating of PTTEP. Under the guarantee terms, PTTEP provides an irrevocable and unconditional guarantee to covers all amounts due under the terms of the debentures up to Bt11,250 million (112.5 per cent of face value), including the principal, plus any accrued interest, and other related expenses.

The guaranteed debentures is ranked pari passu with all other present and future unsecured and unsubordinated indebtedness of PTTEP. The guarantee agreement is governed by the laws of the Kingdom of Thailand.

First Café Amazon branches open in Singapore

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ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30369937

First Café Amazon branches open in Singapore

Corporate May 24, 2019 15:52

By The Nation

PTT Oil and Retail Business Public Company Limited or PTTOR on Friday launched its Café Amazon brand in Singapore with two outlets now serving Thai coffee to Singaporeans and foreigners.

The company said in a press release that the opening ceremony was held at Café Amazon Jewel Changi Airport, the first outlet on the island state and the 2,750th branch of Café Amazon worldwide network.

Representing PTTOR at the event were Auttapol Rerkpiboon, Chairman and Jiraphon Kawswat, President and Chief Executive Officer. Joining them were His Excellency Manopchai Vongphakdi, Ambassador of Thailand to Singapore and Miss Jean Hung, Chief Executive Officer, Jewel Changi Airport Development Private Limited.

According to Auttapol, PTTOR is a flagship company of PTT Group in oil and retail business, aiming to be a leading Thai global brand enriching community values through oil, retail, and related businesses in both domestic and international markets, inclusively with all stakeholders to achieve a sustainable growth together.

He said: “We are extremely pleased to serve up here in Singapore the taste of Café Amazon, a coffee brand we proudly set up in 2002 starting off in our PTT gas stations to service travellers. Throughout 15 years of business, we’re proud to say that Café Amazon has received an overwhelming response in every country it operates.”

As of today, Singapore has two Café Amazon outlets: one at Jewel Changi Airport and another at Jurong. To adapt to Singaporean taste, Café Amazon has adjusted its snack and beverage menu, with Yin Yang; Premium Matcha Latte as its signature drink.

Café Amazon has enjoyed a highly steady growth in sales in each location. In 2018, the number reached a staggering 225 million cups of coffee. Currently, it has around 2,500 branches in Thailand and 200 outlets overseas including in Singapore, Laos, Cambodia, Myanmar, the Philippines, Japan and Oman.