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Motorbike financing firm Summit Capital gets new boss

Jan 06. 2021Koji Shiga

By The Nation

Summit Capital Leasing, a leading motorcycle hire-purchase firms in Thailand, has announced the appointment of Koji Shiga as its new chairman and chief executive officer as of January 4.

Shiga will be replacing Hidetomo Fujiwara, who is returning to Japan to work at Sumitomo Corporation.

Over the years, Fujiwara has used his work experience with Sumitomo Corporation in many countries to direct Summit Capital towards a sustainable path, with a vision and commitment to improve operations and push for growth in many areas such as the number of hire-purchase contracts, market penetration, expansion nationwide and the development of various information technology systems. It is expected that the new CEO will continue with Fujiwara’s legacy.

“Despite the change in management, the direction and management approach will continue in order to create a path for business growth in terms of branch expansion, new sales channels and digital transformation under good corporate governance standards and our company’s core values ‘I TRUST’, which stands for integrity, transparency, responsibility, unity, service excellence, and technology, for the benefit of customers, business partners, dealers, shareholders, the company itself and society,” Shiga said.

More information is available at www.summitcapital.co.th.

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CP Foods helps fill bellies in Samut Sakhon’s migrant community

Jan 05. 2021

By The Nation

Charoen Pokphand Foods (CP Foods) has earmarked 200,000 masks and 85,000 packs of food to distribute nationwide to help boost people’s morale amid the new wave of Covid-19 infections. 

Of this, CP Foods has distributed 30,000 face masks among migrant workers in Samut Sakhon and Rayong provinces. 

It has also provided 30,800 ready-to-eat meals and 10,000 fresh eggs to Labour Protection Network to distribute among migrant workers who have lost their income after the closure of seafood markets and lockdown measures in Samut Sakhon. 

Sompong Srakaew, director and founder of LPN, said there are some 4,000 migrants, mostly from Myanmar, living and working at the shrimp market, which became a hotspot of infections mid-December. 

“Migrant workers in Samut Sakhon are suffering and need support either from the government or private sector. Food supplies from CP proves that Thai people will not leave them behind. This is a huge boost for the morale of migrant workers, who are the backbone of Samut Sakhon’s economy,” Sompong said. 

Prasit Boondoungprasert, CP Foods chief executive officer, said the company and its retail arm, CP Freshmart, have also delivered 55,000 ready-to-eat meals to medical staff on the frontline in Samut Sakhon. 

“CP Group has been continuously delivering food supplies to doctors, nurses and Covid-19 patients as well as the migrant community to ensure food security during this crisis,” he said.

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Qualcomm’s New Snapdragon 888 Promises to Accelerate Wi-Fi 6 160 MHz and Real 1G

Jan 05. 2021

By THE NATION

Qualcomm officially released the Snapdragon 888 at its Snapdragon Tech Summit on the evening of December 1, 2020, offering a glimpse into the future of Android phones.

Unlike previous chips with the “8X5” naming sequence, this chip was renamed “Snapdragon 888”, representing the integration of Qualcomm’s existing cutting-edge technologies that upgrades the mobile terminal industry and promotes Wi-Fi 6 and real 1G.

Mobile Revolution

Snapdragon 888 is Qualcomm’s first 5-nm chip, and now a major competitor to Apple’s A14 and Huawei Kirin 9000. Following its launch, major global smartphone makers including Xiaomi, OPPO, LG and vivo announced that they will launch smartphones with this chip as early as December 28, 2020.

According to Counterpoint, a third-party market research firm, Qualcomm chips power 39% of 5G handsets sold worldwide. This suggests that the release of Snapdragon 888 will drive a new round of mobile terminal upgrade.

Disruptive Wi-Fi 6 160 MHz

Snapdragon 888 comes with Wi-Fi 6 and enhanced frequency bandwidth from 80 MHz to 160 MHz. Theoretically, air interface rate can peak at 3.6 Gbit/s, thanks to the low latency and strong anti-interference of Wi-Fi 6. On a Snapdragon 888-empowered smartphone that is connected to a 160 MHz Wi-Fi 6 gateway, it takes just 16 seconds to download a 2 GB game update package.

Currently, only Huawei P40 and Mate 40 series, as well as laptops with 10th-generation Core, support Wi-Fi 6 160 MHz. This technology will only become more popular as Snapdragon 888 enters the market.

Wi-Fi 6 160 MHz Will Carry Demanding Services

Wi-Fi 6 is a WLAN milestone. It focuses on higher spectral efficiency, larger bandwidth, and lower latency. Wi-Fi 6 160 MHz is the fastest wireless transmission available, which is double the rate of conventional Wi-Fi 6 80 MHz. This has the potential to deliver higher than 1 Gbit/s rates per user.

VR/AR, cloud gaming, telecommuting, and online education are developing rapidly, and likewise they require higher rates and lower latency to deliver the best experience possible. Wi-Fi 6 160 MHz is simply built to carry such services.

Poor Wi-Fi Coverage Hinders Home Networks

There is nothing more annoying than experiencing slow network speeds while taking an online class, seeing patchy signals during a video call, or fighting heavy lag while gaming online. But don’t worry, these problems will be a thing of the past thanks to Wi-Fi 6 160 MHz. Only 160 MHz Wi-Fi 6 gateways can offer satisfactory rates to bring optimal user experiences.

In fact, TRUE, 3BB, and AIS in Thailand have already rolled out 1 Gbit/s home packages for customers. So what are you waiting for? Get a 160 MHz Wi-Fi 6 gateway right now.

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Dtac boosts network in Samut Sakhon for medical workers, quarantined people

Jan 01. 2021

By The Nation

Total Access Communication (Dtac) is boosting its network to support frontline workers and hospitals in the fight against Covid-19 in four key areas of Samut Sakhon.

Samut Sakhon province has been declared a red zone, where the tightest Covid-19 control measures are in place and some 2,800 people have been put under quarantine. Two field hospitals have been set up to quarantine and treat patients with mild symptoms. 

Dtac chief technology officer Prathet Tankuranun said: “Connectivity plays a critical role in this challenging time and Dtac’s team of engineers has rushed to help medical staff at the frontline. 

“Mobile cell sites with Massive MIMO [multiple input, multiple output] technology have been deployed around crucial facilities, boosting network capacity by up to three times. The move is expected to provide better connectivity for medical personnel and those in quarantine to help them connect with their loved ones in these challenging times.”

The four areas where mobile cell sites have been installed include field hospital at Samui Sakhon’s stadium, field hospital at the Krok Krak temple, Samut Sakhon’s provincial public health office and workers’ camp at the central shrimp market. 

The network service team is also keeping a close eye on the impact of the outbreak so the network can be adapted to provide a reliable, secure network for healthcare workers. 

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CP supplies food, masks to people affected by new wave of Covid-19 infections

Dec 31. 2020

By THE NATION

In a bid to tackle the new wave of infections, Charoen Pokphand Group (CP Group) and Charoen Pokphand Foods (CP Foods) have joined forces to provide food and masks to people under quarantine, as well as to vulnerable groups especially those living in high-risk areas in Samut Sakhon.

The companies delivered 200,000 masks and food to migrant workers and vulnerable people in different parts of the country on Thursday. This included 30,000 masks directly distributed among workers and at risk people in Rayong and Samut Sakhon.

CP Foods is also collaborating with the Labour Protection Network (LPN) to distribute 30,800 packed meals and 10,000 eggs among migrants, especially those from Myanmar, who are being quarantined in the Mahachai area of Samut Sakhon.

The “CPF Food from Heart against Covid-19” project aims to ensure migrant workers in quarantine have enough food supplies during lockdown.

CP Foods CEO Prasit Boondoungprasert had said recently that the company aims to reach out to people without discrimination, and ensure they are safe and well fed.

“We are using our expertise as a leading food producer to deliver highly nutritious food to both Thais and migrants. During this time of crisis, we believe social responsibility and collaboration with all parties are of the utmost importance. We have to help each other through this pandemic,” Prasit said.

Meanwhile, Sompong Srakaew, director and founder of LPN, said there are some 4,000 people living in the vicinity of the Mahachai shrimp market, including migrant workers who mostly hail from Myanmar. These people are suffering badly from the lockdown as they cannot work or leave the quarantine area. Therefore, getting food supplies from CP Foods has been a god-send.

“This reflects the friendship and goodwill of Thai people toward the migrant communities. They can be confident that Thai people will not leave them behind during hard times,” he said

Since the outbreak began in early 2020, CP Group has launched several relief activities to help different groups of people ranging from frontline medical staff to vulnerable groups and returnees.

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Makro launches campaign to help shrimp farmers

Dec 30. 2020Photos by Tatchadon Panyaphanitkul

By The Nation

Siam Makro is joining forces with the Commerce and Agriculture ministries to purchase 200 tonnes of shrimp in an effort to help farmers affected by the new wave of Covid-19 infections, as well assure consumers that cooked shrimp is safe for consumption.

People have been wary about consuming shrimp after a new cluster of infections broke out in Samut Sakhon’s central shrimp market recently.

“The new Covid-19 wave has severely impacted shrimp farmers across the country. The last week of the year is supposed to be their opportunity to rack up sales, but the loss of confidence and concern have left them devastated. Therefore, Makro, in association with the Commerce and Agriculture and Cooperatives ministries, has started purchasing shrimp directly from farmers to help move their products in time for the ‘new normal’ New Year celebrations,” said Siriporn Dechsingha, Siam Makro’s chief corporate communications officer.

“This collaboration is an urgent initiative that will be carried out continuously to help shrimp farmers affected by Covid-19. Apart from buying an additional 200 tonnes of shrimp per week directly from farmers and promotions nationwide, Makro has also been certified by the Department of Fisheries to have hygienic, Covid-19-free inspection and storage processes, further boosting public confidence.”

The promotions kicked off with a celebration at Makro Nakhon-In, which was attended by Commerce Minister Jurin Laksanawisit, Agriculture and Cooperatives Minister Chalermchai Sreeon, Department of Internal Trade director-general Wattanasak Sur-iam and Department of Fisheries director-general Mesak Pakdeekong.

The event featured booths selling cooked shrimp served up by members of shrimp farmer networks and the Thai Restaurant Association.

“In the ‘new normal’ festive season, when people will be celebrating by cooking at home, shrimp products from Thai farmers should see better reception, especially after government agencies and network members have joined hands to regain confidence in the safety of shrimp consumption. We are not just looking at short-term solutions but are also aiming for development towards sustainability, in line with our mission to stand by Thai farmers and become the leader of fresh food safety,” Siriporn said.

The shrimp is divided into three sizes, with the smallest going at Bt189 per kilo, medium at Bt199 per kg and large at Bt239 per kg. The promotion will continue until January 31.

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Blockchain could be game-changer for Thai farmers: ministry

Dec 29. 2020

By THE NATION

Thailand’s traditional farmers can break the cycle of low income and debt by harnessing the power of digital technology and big data, according to an official at the Ministry of Agriculture and Agricultural Cooperatives.

Prinn Panitchpakdi, the ministry’s president of agribusiness, recently told a Bangkok seminar that traditional agricultural practices could be upgraded with technology that links them with the market.

Prinn explained that traditional farmers produce products before finding markets to distribute them, so they always face financial problems of low income and debt.

However, new technology now gives farmers the power to collect data on market conditions, meaning they can adjust their crops to meet demand.

Prinn gave the example of blockchain technology in the government’s new TraceThai.com platform, which is used to trace the supply chain of agricultural products sold to the market.

The blockchain system of recording information makes it practically impossible to change, hack or cheat, he added.

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GSB to launch digital savings bond with lucky draws of Bt1 million each

Dec 28. 2020

By THE NATION

The Government Savings Bank (GSB) is set to give Thai people a “New Year gift” in the form of a digital savings bond to be sold via the MyMo application from January 11 until March 16, or until the total deposit reaches Bt20 billion, GSB president Withai Ratanakorn said.

“A lucky draw will be held on February 16 and March 16, with 10 random winners chosen at each event who will be given a Bt1 million cash prize each,” he said. “Anyone above the age of 15 can buy the bond at Bt20 per unit. Minimum investment is Bt200 with the maximum capped at Bt10 million per person.”

Withai added that lucky draws for digital bonds will be a separate event from the monthly draw, which is held on the 16th of every month for buyers of GSB bonds. The first prize in this draw is Bt3 million, and also includes prizes for up to five people as well as awards based on account numbers.

All draws will be broadcast live on Facebook @LiveNBT2HD.

“We hope the digital bonds will help promote savings and encourage people to spend money wisely,” he said.

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Indorama Ventures listed in sustainability index for 6th year running

Dec 28. 2020Sasinotai Rochanutama, right, manager of sustainability at Indorama Ventures Plc, receives the award from Pakorn Peetathawatchai, president of the Stock Exchange of Thailand.

By The Nation

Indorama Ventures (IVL), a leading global chemical producer, received a plaque from the Stock Exchange of Thailand (SET) to mark its sixth consecutive year (2015-2020) in the Thailand Sustainability Investment (THSI) 2020 index for the Industrial sector.

IVL was honoured as a listed company with a market capitalisation of more than Bt100 billion for achieving outstanding performance in Environmental, Social and Governance (ESG) practices. The award also reflects transparent disclosure of social and environmental policies and performance to stakeholders so that investors can make decisions based on responsible investment.

IVL is a global business committed to developing technologies and processes that use post-consumer PET and polyester waste materials as feedstock. As the largest producer of 100 per cent recyclable PET in the world, IVL said it intends to ensure all aspects of the circular economy come to fruition, reducing waste in the environment. The company is listed in the Dow Jones Sustainability Index.

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CP Foods set to launch five series of debentures to finance expansion

Dec 25. 2020

By The Nation

Charoen Pokphand Foods (CP Foods) is getting ready to issue and offer five series of debentures with tenors of two to 12 years to retail and institutional investors as well as high-net worth investors.

The debentures have been assigned an A+ by TRIS ratings and the subscription period is expected to be held throughout January. There are seven financial institutions overseeing the issue, namely

Krungthai Bank, Kasikornbank, Siam Commercial Bank, Government Savings Bank, CIMB Thai Bank, TMB Bank and Kiatnakin Phatra Securities.

Paisan Chirakitcharern, chief financial officer, said CP Foods plans to issue debentures to refinance its existing debts maturing in 2021 and for funding future business expansions.

Retail investors will be offered four series of debentures: a 5-year tenor at a coupon rate of 2.99 per cent per annum, a 7-year tenor with a coupon rate of 3.15 per cent per annum, the 10-year tenor with a coupon rate of 3.60 per cent per annum and a 12-year tenor with a coupon rate of 3.80 per year. Meanwhile, the 2-year tenor will only be offered to institutional investors and/or high-net worth investors.

The final coupon rate of the 2-year tenor debentures will be determined and announced at a later stage, with interest being paid for debentures every six months.

Retail investors and high-net worth investors interested in the debentures can subscribe for a minimum Bt100,000 in multiples of Bt100,000.

More details are available at www.sec.or.th or via the joint lead arrangers.