For this purpose, the company will be holding the year’s first extraordinary general meeting on June 21.

The Fund is projected to acquire benefits from the main target of additional investment through long-term leases to the main lessee, ie, True Group.

Narongsak Plodmechai, chief executive officer of SCB Asset Management Co Ltd, said DIF has been investing in telecommunications infrastructure assets on a national scale in line with its strategy to create continuous growth.

He noted that DIF is committed to exploring opportunities in infrastructure assets and increase the value of its assets in order to generate long-term returns for unitholders, tap growth in the highly competitive telecommunications industry, which is entering the 5G era, and meet the ever-rising demand for internet services.

DIF owns and holds direct rights to net revenue from 15,271 telecommunications towers. It also owns and holds long-term leasehold interests approximately 2.7 million core kilometres of optical fibre cable. Moreover, it owns a broadband system upcountry with a capacity of 1.2 million ports. As of March 31, its net asset value stood at Bt150.29 billion.

Narongsak said the telecommunications infrastructure assets of True Group, in which DIF will invest in the fourth round, comprise the following:

 Ownership of 749 telecommunication towers on ground and approximately 39 telecommunication towers on rooftops, all of which are ready and most of them are no more than a year old;

 Ownership of fibre optic cable, which is currently used for the provision of mobile phone services upcountry, with a distance of 1,795km or about 107,694 core km.

 Ownership of fibre optic cable that is currently used to support FTTx technology for the provision of internet and broadband services in Greater Bangkok and upcountry, with a total distance of approximately 315km or approximately 40,823 core km and approximately 617km or about 37,505 core km, respectively.

 Ownership of fibre optic cable used to support FTTx technology for the provision of internet and broadband internet services upcountry, with a total distance of 2,797km or about 109,704 core km.

According to estimates, the cash distribution per unit (DPU) of DIF after investment is expected to be no lower than the DPU expected even without the investment during the October 1, 2019-September 30, 2020 period.

The only source of funds to be used in the investment will be from an increase in registered capital. DIF will boost its registered capital by no more than Bt10.5 billion, with a par value of Bt10, to Bt106.87 billion from Bt96.37 billion. The number of newly issued units, which will be offered proportionately to existing shareholders, will not exceed 1.05 billion units.

DIF will propose this plan for approval at the EGM of Digital Telecommunications Infrastructure Fund Unitholders on June 21.

For the three years from 2016 to 2018, DIF has consistently distributed returns to unitholders, achieving annualised DPU rates (as calculated from quarterly figures) of Bt0.956, Bt0.975 and Bt1.016 per unit respectively.

The shopping centre and property developer has held a tenant meeting to prepare for the official grand-opening launch scheduled for August 31.

“We are very proud that we have been able to create Central Village, Thailand’s first international luxury outlet, where Thai people can be proud of Thailand being a global shopping destination,” Wallaya Chirathivat, deputy chief executive officer of CPN, said. This will help fulfil the travel experience in Thailand as comparable to other leading countries around the world.

“Over 65 brands have chosen to open their exclusive outlet stores only at Central Village. We aim to attract over 10 million Thai and foreign shoppers in the first year.”

To prepare for the official grand opening, Central Village will launch a marketing campaign to support “brand lovers” among Thai and foreign tourists, particularly the “Young Affluent” target group, which is a new segment that luxury brands around the world are keeping an eye on.

This target group is likely to increase in Asia, said Wallaya. They are 25-40 years old and have enjoyed success early in their life and career, with a monthly income of over Bt50,000. They have high purchasing power and most are “smart shoppers” who tend to consider value and quality rather than luxury.

They are “quality seekers” and tend to have self-rewarding behaviour as well as being “status hunters”. Shopping outlets are a top choice for this target group. According to data from “The 1”, over 2 million of their members are considered “Young Affluent’”.

“They are a new generation of consumers that we need to focus on,” said Wallaya.

To ensure the new outlet meets an international standard, CPN has partnered with, The Outlet Company (TOC), consulting team and global outlet management company. TOC has developed and managed several international outlets around the world, said Wallaya.

For the concept design, the project has aimed to combine elegance with a unique Thai sensibility in this project. Copper hues will be used to represent “luxury, natural and prestige” along with silver-gray to represent “modernization, sophistication and innovation” for the new generation.

The building was architecturally designed to reflect a modern Thai style using a Thai-style gabled roof with a minimum of complex patterns to give it a more modern look. The zones are divided to reflect the feel of several different villages. The shops within the project will be called “boutique stores” to represent an easily accessed luxury, and are combined with an outdoor green space similar to other popular outlets around the world.

With the aim of deepening its connection to Thailand, the DSM office will serve as a catalyst for growth, signalling the company’s intent to further develop its operations in the country, where it has projected a growth of over 1 per cent.

During the official opening on Wednesday, Pieter Nuboer, president of DSM Nutritional Products in Asia-Pacific, said Thailand is its fifth largest market in Asia and the opening of its new facilities clearly signals long-term commitment.

“Attracting and retaining the best talent is key to driving innovation in close collaboration with our loyal customer base in Thailand and Indochina,” he said.

Growth potential in Thailand spans across the DSM portfolio, with products, services and solutions from both the nutrition and materials arms of the business.

More specifically, the increase in demand for fish and fish-based products in Southeast Asia has seen the region account for over a third of the world’s aquaculture production, with a significant rise in aquaculture industry in Thailand.

Last year, DSM also announced its collaboration with Starboard, a leading water-sports company based in Thailand, where DSM’s Akulon® RePurposed resin – fully recycled from discarded nylon-based fishing nets – is used as a component in surfboards.

The move also reconfirms DSM’s dedication to Thailand and Southeast Asia to contribute to the automotive, electrical, electronics and local industrial segments as well as assisting customers from both within Thailand and surrounding countries with application development and technical support.

It also called on the US government to halt its state-sanctioned campaign against Huawei because it would not deliver cybersecurity.

Banning Huawei using cybersecurity as an excuse “will do nothing to make networks more secure. They provide a false sense of security, and distract attention from the real challenges we face,” said Song Liuping, Huawei’s chief legal officer.

“Politicians in the US are using the strength of an entire nation to come after a private company,” Song said. “This is not normal, almost never seen in history.

Song added, “The US government has provided no evidence to show that Huawei is a security threat. There is no gun, no smoke. Only speculation.”

In the complaint, Huawei argues that Section 889 of the 2019 NDAA singles out Huawei by name and not only bars US government agencies from buying Huawei equipment and services, but also bars them from contracting with or awarding grants or loans to third parties who buy Huawei equipment or services – even if there is no impact or connection to the US government.

Song also addressed the addition of Huawei to the “Entity List” by the US Commerce Department two weeks ago. “This sets a dangerous precedent. Today it’s telecoms and Huawei. Tomorrow it could be your industry, your company, your consumers,” he said.

“The judicial system is the last line of defence for justice. Huawei has confidence in the independence and integrity of the US judicial system. We hope that mistakes in the NDAA can be corrected by the court,” Song added.

Glen Nager, Huawei’s lead counsel for the case, said Section 889 of the 2019 NDAA violates the bill of attainder, due process, and vesting clauses of the United States Constitution. Thus the case is purely “a matter of law” as there are no facts at issue, he said, thereby justifying the motion for a summary judgement to speed up the process.

Huawei believes that US suppression of Huawei will not help make networks more secure.

Huawei insists that the US take the “right approach” and adopt honest and effective measures to enhance cybersecurity for everyone, if the US government’s real goal is security.

In line with a court scheduling order, a hearing on the motion is set for September 19.

The campaign will be held from May 30 to July 17 at The Mall Shopping Centre and Department Store, The Emporium, EmQuartier, and Paragon Department Store.

The grand mid-year promotion offers up to 80-per-cent discounts from all the leading brands in the group’s shopping centres, which feature more than 10,000 brands in total.

The campaign introduces the group’s “Retailtainment” strategy, which is the first time that a department store has ever brought gamification to fulfill an innovative shopping experience in a fun and exciting way throughout the whole campaign.

The campaign is estimated to bring in over Bt8 billion, representing growth of 10 per cent from last year, which will increase traffic in the group’s shopping centres and department stores by up to 20 per cent during regular hours, the company said.

Voralak Tulaphorn, chief marketing officer of The Mall Group, said: “In response to the policy, set out by the Finance Ministry, to boost the nation’s economy during the mid-year period that aims to increase spending transactions and facilitate cash flow into Thailand’s economy, the government has arranged for tax deductions when consumers purchase educational and sports merchandise.

“Shoppers who purchase these items can receive individual income-tax deductions up to Bt15,000, which is a measure that will help boost sales and greatly increase the purchasing power of consumers in the retail market.”