PTTEP and ARV set to create innovative solutions

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PTTEP and ARV set to create innovative solutions

Corporate May 17, 2019 18:08

By The Nation

PTT Exploration and Production (PTTEP) has unveiled AI and Robotics Ventures Company (ARV) to provide cutting-edge AI and robotics services to accelerate research and technology development.

The company said in a press release on Friday that it is set to take part in driving the country’s economy through innovations.

“ARV is a significant milestone for PTTEP’s new business investment strategy to foster sustainable growth while addressing the changing era of digital transformation,” said Phongsthorn Thavisin, PTTEP President and Chief Executive Officer.

“ARV service builds upon PTTEP’s specialised technologies in petroleum exploration and production activities which have proven to enhance the company’s competitive capability. Through ARV, the expertise will also become available to support other industries outside the energy sector to boost efficiency and business value.”

ARV’s first three-year (2019-2021) investment is approximately Bt1.6 billion with an aim to be a leading AI and robotics company in South East Asia within 3-5 years.

“ARV’s long-term goal is to become an integrated platform for continuous development in cutting-edge AI and robotics. We focus on collaborating with partners from both academic and industrial sectors including high potential start-ups to create innovative solutions and build a workforce that fits the needs of business today and in the future,” said Dr. Thana Slanvetpan, ARV General Manager.

One of ARV’s latest technologies developed alongside its Norwegian partner is the world’s first remotely-operated Subsea Flowline Control and Repair Robot (SFCR) capable of performing inspection, repair and maintenance tasks on underwater petroleum pipelines. The robot is expected to cut repair cost by half, requires less time to deploy and also minimises human’s exposure to dangerous operations.

The application of ARV services and developing technologies ranges across air, sea and land.

The company’s pioneered AI & Robotic solutions include an Inspection-class Autonomous Underwater Vehicle (IAUV) for preventive inspection of underwater facilities such as petroleum pipelines and platform structures without requiring a support vessel or a large number of supporting crew; an In-pipe Inspection Robot (IPIR) for examining inside petroleum pipelines and providing a 3D visual profile for better predictive maintenance; and an Unmanned Aerial Vehicle (UAV) for inspecting facilities at height, generating aerial images, and surveying agricultural land to help analyze and improve productivity.

Thana added: “AI and Robotic technologies help business overcome conventional restrictions and bring about new advantages including reduction in operation time and cost, increase in precision and agility due to their ability to process, analyse and make decision.

“These technologies also offer personnel safety benefits by operating in potentially-risk areas. Creativity in software design also makes possible diverse applications. The potential is therefore infinite.”

Examples of intended-function software include the on-going development of UAV for Smart Farming in partnership with an agricultural business, and a successful development of Swarm Drones Technology in collaboration with the Radio Control Airplane Modeler Sport Association (RCSA) which was the first by Thais and in South East Asia.

Airbnb and GSB launch partnership to support local homestays | #AsiaNewsNetwork

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http://www.nationmultimedia.com/detail/Corporate/30369562

Airbnb and GSB launch partnership to support local homestays | #AsiaNewsNetwork

Corporate May 17, 2019 17:36

By The Nation

Airbnb, the world’s leading community-driven hospitality company, and the Government Savings Bank, Thailand’s state-owned bank, on Friday announced a partnership to help promote Thai hospitality entrepreneurs, starting with local homestay owners.

A press release on Friday said that through the partnership, GSB will help ensure better funding for hospitality entrepreneurs by providing flexible-interest rate loans and instalment plans.

Airbnb will work with GSB to help build capacity through hospitality and hosting training while connecting homestay owners to its worldwide platform and marketplace network of over 500 million guests.

Dr. Chatchai Payuhanaveechai, GSB President and CEO, and Mike Orgill, Airbnb General Manager for Southeast Asia, Hong Kong and Taiwan, jointly launched the partnership on Friday.

As part of the launch pilot, Airbnb and GSB trained GSB officials and 29 local homestay groups, including the participants of GSB’s ‘Smart Homestay 2018 Competition’, which recognised outstanding homestays in different provinces across Thailand.

The partnership will support local sustainable tourism while diversifying income distribution to communities across Thailand, in alignment with the Thai Government’s initiative to drive local economic growth in secondary cities through tourism. Specifically, both GSB and Airbnb pledged to expand business opportunities for Thai hospitality micro-entrepreneurs to help generate income for local communities.

GSB will provide a special loan package – providing grassroots customers with smaller, flexible loans – to hospitality micro-entrepreneurs who meet the Bank’s requirements. Airbnb will conduct a series of train-the-trainer model capacity building sessions to equip GSB officials with the skills to navigate and utilise Airbnb’s global platform efficiently, and cascade this knowledge to homestay owners under GSB’s programmes.

On Friday, participants took part in a series of sharing sessions about Thai tourism and its opportunities, as well as an Airbnb host onboarding and activation workshop for homestay owners. The high-speed fiber optic Internet for the workshop was provided by state-owned telecommunications company TOT Public Company Limited.

Airbnb Superhost, Nitaya Laisuwan, who hosts in a homestay in Bangkok, also shared her personal story and best practices. The passionate host and mother of two is a full-time English teacher who welcomes guests in her 4th generation traditional Thai wooden home, located by Bangkok’s Chao Praya river.

THAI posts steep loss in first-quarter operations

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THAI posts steep loss in first-quarter operations

Corporate May 17, 2019 01:00

By   THE NATION

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THAI AIRWAYS International Plc (THAI) swung to a steep operating loss of Bt828 million in the first three months of 2019, mainly due to the baht’s appreciation, fierce competition and the US-China trade war.

The airline made an operating profit of Bt3.84 billion for the same period last year.

President Sumeth Damrongchaitham said the company’s net profit plunged 83.3 per cent in the quarter to Bt456 million due partly to the baht appreciation, high market competition and lower revenue passenger kilometres (RPK) as a result of less available seat kilometres (ASK).

Total income fell 6.9 per cent year-on-year to Bt49.79 billion, while total expenses rose 2.0 per cent to Bt989 million from higher depreciation.

The national carrier had, at the end of the quarter, 90 aircraft in services, compared to 94 in the same period last year .

Excluding the 20 aircraft of its subsidiary Thai Smile Airways, THAI had only 70 aircraft in actual service.

“We have had less aircraft and passengers amid high competition, thus our income decreased as the operation cost remained the same.

In the first quarter of this year, the airline’s ASK edged down 2.8 per cent while RPK dropped 3.2 per cent. The cabin factor averaged 80.3 per cent, lower than 80.6 per cent in the same period last year.

THAI transported 6.29 million passenger during the period , up 0.6 per cent.

The company plans to maintain its passenger load factor at an average of 80-85 per cent for the whole of this year.

Sumeth conceded that given the US-China trade war since late last year, in addition to the baht appreciation and price competition, the airline’s cargo-based income dropped 12.9 per cent in the first quarter.

This year, THAI will focus on generating additional income under the Montra project, aimed at rehabilitating the flagship airline through an integration of THAI and Thai Smile’s management, sale and marketing administration, and search for additional income and non-aviation income.

“The second quarter is the start of the low season in tourism. It’s a difficult period. But we will try to maintain our cabin factor at about 80 per cent with promotions. In this period, we won’t have new expenses. We will try to generate income from cargo, catering and e-commerce businesses. Products worldwide will be gathered into online catalogue and be sold via online and applications,” Sumeth said.

Online channels will be launched in September with the airline’s 20 million existing customers as the target group. The first year of service is expected to see profit of about Bt100-Bt500 million.

Sumeth said the planned procurement of 38 new aircraft is currently under consideration by the Ministry of Transport before being forwarded to the Cabinet.

In regard to the joint investment plan for the maintenance, repair and overhaul (MRO) centre at U-Tapao Airport in Rayong province, THAI has discussed with its partner Airbus, and both have agreed that the European aircraft maker will raise its concerns on the project in a written document for project’s selection committee on June 7, before negotiations and contract-signing.

Meanwhile, ohters aviation firms also show their financial result in the first quarter of this year lower than the same period of last year, according to the companies report to the Stock Exchange of Thailand in this week.

They are including Asia Aviation Plc records net profit Bt497.2 million in the first quarter of this year or dropped 50.48 per cent from the same period of last year. Bangkok Airways Plc reports net profit Bt504.32 million in the first quarter of this year or dropped 29.01 per cent from the same period of last year. As Nok Air Plc reports net loss Bt304.15 million in the first quarter of this year that better than its net loss Bt1.23 billion in the same period of last year.

Korean beauty firm teams up with Lazada

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Korean beauty firm teams up with Lazada

Corporate May 17, 2019 01:00

By The Nation

South Korea’s biggest beauty-product company Amorepacific announced yesterday that it had signed a Memorandum of Understanding (MoU) for a strategic partnership with Southeast Asia’s leading e-commerce company Lazada Group, under which the two companies will work together to solidify their brand outreach in the region.

The MoU is aimed at invigorating Amorepacific’s online business in Southeast Asia, a key global

strategic region.

Lazada will enable the beauty company to leverage its e-commerce platform’s extensive network

for faster growth and larger market share in the region by showcasing its innovative “Asian Beauty”

products to a wider consumer base, according to the company’s release yesterday.

Megabangna puts Bt100m into digital transformation

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http://www.nationmultimedia.com/detail/Corporate/30369530

Megabangna puts Bt100m into digital transformation

Corporate May 17, 2019 01:00

By Kwanchai Rungfapaisarn
The Nation

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MEGABANGNA, operated by SF Development Co Ltd, yesterday launched a strategy for the digital transformation of the shopping centre built around marketing efforts that position it as “the great meeting place” of eastern Bangkok.

The mall has invested over Bt100 million to revamp all its digital channels and platforms in order to cater to the current consumer trends and integrate the digital technology with all aspects of the customer experience.

Sirinchat Sangsri, vice president of marketing for Megabangna shopping centre, said that the company launched a Megabanga application on Wednesday in a move aimed at keeping its customers up to date on sales campaigns and other information. The app does not provide products or services for sale.

Megabangna aims to increase number of customer registrations of the app by 50 per cent by 2021.

“We expect to have 10 per cent of our visitors having the Megabangna application within the next five years,” said Sirinchat, adding that Megabangna had 46 million visitors last year.

She said that the Megabangna application contains a complete range of features, such as promotions, activities, shop details and a membership loyalty programme called Mega Smile Rewards. The app provides convenient, quick and accurate information to customers and offers that are specially tailored for them, she said.

“This year, Megabangna shopping centre has reached its seventh anniversary. We have paid great attention to creating the best customer experience in order to ensure that visitors to Megabangna are always happy and impressed in each of their visits,” said Sirinchat.

“We found that the Thai people on average spend nine hours on the internet each day, including being online via electronic devices. Most people, or up to 71 per cent, access the internet via their smartphones.

“Moreover, more than 80 per cent used smartphones for watching entertainment programmes and searching for information and over 59 per cent did their shopping by phone. All these activities happened on mobile applications. Therefore, we are utilising this channel to provide benefits and promotions to customers, as we believe this can help us cater to the behaviours and needs of customers of various lifestyles.”

She said that customers’ needs and lifestyles are changing frequently and unpredictably in line with the trends and influencers in the market.

“The enlargement of the online platform enables consumers to access any information 24/7 – anywhere and anytime. This leads to customers knowing what they want, choosing what they prefer, advocating on what they believe and even sometimes telling the brands to understand their needs and tailor offers to meet their expectation – and even beyond,” she said.

“Learning from this challenging scenario, we therefore set our mission to turn Megabangna shopping Centre into a modern meeting place to accommodate the lifestyles and needs of our customers. We perceive ourselves as the meeting place where people can shop, dine, play and socialise with their family and friends.”

Shopee launches gaming tournament

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Shopee launches gaming tournament

Corporate May 16, 2019 17:59

By The Nation

2,585 Viewed

In line with the popularity of e-sports in Thailand, Shopee, an e-commerce platform in Southeast Asia and Taiwan, in partnership with Garena, an online game and social platform, has launched the Shopee x RoV Grand Challenger Tournament.

Arena of Valor (RoV) is a multiplayer online battle arena game which starts on May 27 and will feature a Bt150,000 prize pool.

Agatha Soh, head of marketing at Shopee Thailand said: “Sales of gaming products have consistently performed well on Shopee. Coupled with the tremendous popularity of RoV in Thailand, this partnership serves to bring gaming communities closer together, and make e-sports even more accessible to the wider community.”

The competition will kick off with a group stage, where participants compete to advance to the semi-finals and finals held on June 14 and 17 at Garena’s e-sports studio. The four finalists will get the exclusive opportunity to battle with celebrities May-Pitchanart and Jyp-Pokchat, and popular pro-players, KritNgi and Wanoiz.

To further enhance the spectator experience, the semi-finals and finals will be streamed on Shopee Live, Shopee’s latest in-app live streaming feature.

“The realm of e-sports has no limits and can be enjoyed by all,” said Krit Pattanateacha of Garena Thailand Co Ltd.

“Today the importance of games and e-sports is no longer limited within the game content itself, but to a wider ecosystem that connects various industries. Gaming fans in Thailand have become a part of the community with a variety of members who have the same passion for games, with Garena as the centre of this dedicated community.”

Frasers sees 12% bump in total income for second quarter

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Frasers sees 12% bump in total income for second quarter

Corporate May 16, 2019 15:28

By The Nation

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Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) has announced second-quarter recorded net investment income of Bt463 million from total income of Bt718 million, a Bt78-million increase, or up 12 per cent from the corresponding quarter of fiscal year 2019.

For the six-month period from October 1, 2018 to March 31, 2019 FTREIT’s net investment income reached Bt885 million from total income of Bt1.39 billion, an increase of Bt564 million or 68 per cent from last year’s corresponding half-year.

Peerapat Srisukont, managing director of Frasers Property Industrial REIT Management (Thailand) Co Ltd (FIRM), said, “The significant growth reflects FIRM’s efficiency in asset management, which focuses on generating sustainable income … At present, FTREIT has an average occupancy rate of over 80 per cent and continues its steady growth going forward.”

The second-quarter dividend payment was announced at Bt0.1670 per unit.

“In the second half of fiscal year 2019, FTREIT will consider to invest in high potential assets from Frasers Property Thailand. Concurrently, FIRM as a REIT manager will maintain high occupancy rate of the portfolio while also managing the operational costs to generate sustainable and consistent returns to FTREIT’s unit holders. FIRM will continue to reaffirm its leadership position as Thailand’s largest industrial and logistics REIT,” Peerapat said.

AIA Thailand receives quality assurance award

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AIA Thailand, represented by Johann Dutoit, right, chief actuary, receives the Quality Assurance Scheme (QAS) accreditation award from Tan Suee Chieh, IFoA’s incoming president-elect.
AIA Thailand, represented by Johann Dutoit, right, chief actuary, receives the Quality Assurance Scheme (QAS) accreditation award from Tan Suee Chieh, IFoA’s incoming president-elect.

AIA Thailand receives quality assurance award

Corporate May 16, 2019 15:25

By The Nation

2,163 Viewed

AIA Thailand (Actuarial) recently received the prestigious Quality Assurance Scheme (QAS) accreditation from the Institute & Faculty of Actuaries.

“We are very proud,” said Johann Dutoit, Chief Actuary of AIA Thailand said “We strongly believe that it reflects the best practices that AIA has put in place, and we are convinced that it will provide confidence to our regulator and our auditors in the quality and reliability of our work. We also believe that it will be a valuable tool to encourage more good people to join us when they see the high standards that we uphold at AIA.”

This award is designed to provide a level of assurance with regard to an organisation’s commitment to high quality actuarial work.

It has been awarded to AIA Thailand in recognition of its creation of an excellent working environment which values professionalism, technical quality and regulatory compliance.

It reflects the commitment of AIA Thailand to uphold the highest ethical standards of behaviour for over 80 years, said Dutoit. The award ceremony was held recently at the IFoA Asia Conference in Chengdu.

AirAsia set to serve Jakarta-Phuket route

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AirAsia set to serve Jakarta-Phuket route

Corporate May 16, 2019 15:21

By The Jakarta Post
Asia News Network

Low-cost carrier AirAsia is set to open a new direct route from Jakarta to Phuket in Thailand starting on July 2.

According to a statement, the new route will be available three times a week.

“The travelling trend continues to increase especially in the youth market, hence demand to open unique routes is increasing as well,” AirAsia Indonesia president and director Dendy Kurniawan said.

Phuket is one of Thailand’s biggest islands in the southern region and boasts various destinations, such as Phi Phi Island, the Big Buddha statue in Chalong and Phuket Old Town.

The carrier is currently offering promotional fares from 583,000 rupia (Bt$1275) one way that can be booked until May 26 for a travel period between July 2 and October 25.

Other direct flights served by AirAsia from Thailand to Indonesia are Jakarta-Bangkok, Medan-Bangkok and Denpasar-Bangkok.

Money’s pulling power on show

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Money’s pulling power on show

Economy May 17, 2019 01:00

By PHUWIT LIMVIPHUWAT
THE NATION

2,295 Viewed

CONSUMERS are eager to find better ways to improve their savings options – if the queues that began forming on the opening day of the Money Expo 2019 exhibition are anything to go by.

The event, which got under way yesterday at Impact Muang Thong Thani in Bangkok, continues until May 19.

The queues began appearing several hours before the venue’s doors were opened to the public.

The exhibition has grown into one of the biggest banking events of the year, with financial institutions from around the country gathering to promote their financial products to customers.

However, for the bulk of those consumers waiting patiently in line since dawn, there was only one bank on their minds. Their mission was to be accepted into the Special 106 Days Savings Promotion programme offered by the Government Savings Bank (GSB).

“I have been waiting here since 5 in the morning,” said Bandit Yingsitthisakkong, age 41, a GSB customer who volunteered to organise a customer-run queuing system in front of the expo venue.

“The reason why so many people want to make deposits with the GSB is because of its special promotion being given out to customers at this event,” he said “It will offer the highest interest rate for savings.”

The GSB is offering special interest rates for individual customers of up to 4 per cent, on average, annually – much higher than the average savings rate of other banks, which are well below 2 per cent each a year.

Customers who want to be admitted into the bank’s special savings programme must first receive a ticket that will be distributed at the event twice a day until May 19. Each time, 250 tickets are handed out.

But, as Bandit pointed out, the pre-opening crowds numbered more than 300, and they were joined by plenty more after the doors opened.

“This means there will not be enough tickets for all these customers,” he said.

Other banks have taken the opposite direction in promoting their loan deals at the expo.

Siam Commercial Bank (SCB) is offering products called Speedy Loan and Speedy Cash to customers who sign-up for the programme during the exhibition. With the loan promotion, customers will be able to take out their first three loans at zero interest rates.

Kasikornbank is also targeting customers with its loan-based financial products. Products designed for customers at the event include K-Home Loan, with no interest for three months, along with K-Personal Loan with interest of 0.7 per cent each month and K-Express Cash, with zero-interest rates for 90 days.

TMB Bank and Thanachart Bank have focused on offering mortgage deals. Visitors at the expo will get an interest rate of 3.5 per cent per year for three years when they apply for mortgages with TMB Home Loan or with TMB Home Loan Refinance. Thanachart Bank is offering mortgages to customers at the exhibition with interest of 3.29 per cent for three years.