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B.Grimm, SCG units join forces to offer cutting-edge industrial solutions (nationthailand.com)

B.Grimm, SCG units join forces to offer cutting-edge industrial solutions

Nov 30. 2020

By THE NATION

B.Grimm Joint Venture Holding Co Ltd (BGJV) has signed a cooperation agreement with Rayong Engineering and Plant Service Co Ltd (Repco), a subsidiary of Chemicals Business, SCG to offer cutting-edge industrial solutions.

The collaboration between the subsidiaries of B. Grimm Group and SCG zeroes in on offering integrated product and service support, and Internet of Things solutions to power plants, oil refineries, chemical factories and other industries.

The accord was formalised by the president of B.Grimm Joint Venture Holding Co Ltd, Caroline Link, Fabrice Goetschmann, president of B.Grimm Industrial Businesses, and Repco managing director Chokchai Montreeamornchet.

BGJV is to execute the collaboration with Repco through three units under the umbrella of B.Grimm Group, namely B.Grimm Trading Corporation, Hamon B. Grimm Co Ltd and B.Grimm Babcock Power Co Ltd.

B.Grimm Trading Corporation is an importer and distributor of engineering products from Europe, the US and many other countries around the world.

Hamon B. Grimm manufactures and distributes cooling equipment for generators and chemical industries.

B.Grimm Babcock Power is involved in the production and distribution of steam generators and equipment for power generation, refining and petrochemical industries.

Repco comes under SCG’s chemical business and is a provider of engineering solutions and maintenance services.

The collaboration creates a synergy to provide the most complete solutions to the customers of both parties, they said.

This enables customers to receive quality products, installation and maintenance, with a platform that can perform predictive analytics through artificial intelligence and machine learning to enable early warning, preventing parts or equipment from being damaged.

That reduces the risk of factory downtime and increases production efficiency.

Link said the collaboration with SCG represents another important step for B.Grimm to strengthen the technical and business cooperation.

“It is extremely beneficial in enabling both parties to meet the needs of their clients in all aspects — something in which B.Grimm has placed great importance,” she stated.

Goetschmann noted that the partnership helps further strengthen the relationship between B.Grimm and SCG, and raises the level of Thailand’s industrial standards with the most advanced innovations and solutions.

In the past, both sides have undertaken many important activities together such as jointly providing engineering study to customers.

There are more than 10 other collaborative projects in the pipeline which the two parties are contemplating.

Chokchai added that the cooperation underscores the vision the two sides are sharing in becoming leaders in innovation and industry solutions.

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ESG playing bigger role in rating debt issuers in emerging markets: Moody’s (nationthailand.com)

ESG playing bigger role in rating debt issuers in emerging markets: Moody’s

Nov 27. 2020

By The Nation

Moody’s Investors Service reports that 36 per cent of its nearly 1,800 ratings of debt issuers in emerging markets in 2019 involved material environmental, social and governance (ESG) considerations, dominated by governance considerations. “

ESG risks are often higher in emerging markets [EMs] than they are in developed markets, while issuers’ capacity to respond to these risks is often also weaker,” said Nishad Majmudar, a Moody’s analyst.

“We expect ESG considerations to become even more material to debt issuers’ credit quality globally – and particular in EMs – given the range and rise of ESG risks such as climate change and public health,” added Majmudar.

Of the nearly 1,800 rating action announcements Moody’s published in 2019 for both private- and public-sector debt issuers in emerging markets (EMs), 36 per cent contained references to material ESG considerations, with many containing multiple references. Cited most often by far was governance, followed by social and then environmental considerations. For public-sector rating actions, environmental and social considerations became more prevalent in 2020 and will continue to rise, said Moody’s.

It added that ESG is more often cited in emerging market public-sector rating actions (65 per cent). This reflected generally weaker institutions and thinner buffers against environmental and social risks in EMs than in developed markets, said the ratings agency. Meanwhile about one-third of private-sector EM announcements cited ESG considerations. Moody’s cited governance four times as often as environmental considerations and nearly six times as often as social considerations. The ESG citations spanned a range of sectors, indicating ESG’s importance and pervasiveness as a credit consideration. Asia-Pacific, and specifically China, account for most citations.

The company said most rating actions citing ESG are directionally neutral. About 65 per cent were affirmations of an existing rating or issuance of a new rating. About 21 per cent were negative rating or outlook actions and 14 per cent were positive. Nearly half of the negative actions were downgrades and about 75 per cent of the negative actions cited environmental considerations.

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Dtac and WHA Group leading Thai industry’s 5G drive (nationthailand.com)

Dtac and WHA Group leading Thai industry’s 5G drive

Nov 27. 2020

By THE NATION

Dtac and WHA Group are showcasing 5G smart water and smart energy management solutions at “5G WHA Smart Ecosystem” exhibitions in Thailand and Southeast Asia.

The 5G solutions support industrial businesses in WHA industrial estates to drive growth through efficient management of infrastructure, energy and resources.

Meanwhile dtac is highlighting 5G Smart Water Management that enables remote and real-time monitoring of pH levels and chemical residues in wastewater. It also facilitates timely management of wastewater levels in ponds to mitigate overflow in the industrial estate. The system is currently being tested in the WHA Eastern Industrial Estate (Map Ta Phut).

The 5G Smart Energy Management enables real-time monitoring and control via live video streaming, contributing to increased safety and lowered costs.

Pictured at dtac’s booth at the 5G WHA Smart Ecosystem exhibition are: Rajiv Bawa (fifth left), chief business officer of Total Access Communication (dtac); Narit Duangkruaratichote (second left), dtac head of IoT and B2B Solutions; Jareeporn Jarukornsakul (centre), chairman and Group CEO, WHA Corporation; David Nardone (sixth left); group executive Industrial and International, WHA Industrial Development; and Kraitos Ongchaisak (third left), CEO, WHA Infonite Co Ltd.

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UOB becomes first bank in Asia to launch smart city finance framework (nationthailand.com)

UOB becomes first bank in Asia to launch smart city finance framework

Nov 27. 2020

By THE NATION

UOB on Thursday kicked off the UOB Smart City Sustainable Finance Framework (UOBSCSFF), the first financing framework to be launched by a bank in Asia that makes sustainable financing more easily accessible to companies contributing to the creation of smart cities.

Aligned with the United Nations’ Sustainable Development Goals (SDGs), UOB’s framework is supported via Singapore’s Green and Sustainability-Linked Loan Grant Scheme.

UOB’s framework sets out the criteria corporate and institutional clients must meet when accessing services from green or sustainability-linked loans and trade finance facilities to other banking products.

According to the criteria, the company is required to have a clear sustainability strategy and objectives to achieve their targets and must use the funds to further their sustainability agenda.

Businesses are also required to demonstrate how their activities promote a better quality of life such as through the use of renewable energy, construction of green buildings, improved energy efficiency, green transportation, sustainable water and waste management and climate change adaptation. UOB will monitor the company’s use of the loan and the environmental and social impact its business activities have on an annual basis.

Companies committed to building sustainable and smart cities can apply for sustainable financing without having to develop their own financing framework which can take time and resources. This means that they can focus their resources on contributing to a better environment for all.

Frederick Chin, head of UOB’s Group Wholesale Banking and Markets, said: “The UN estimates that US$2.5 trillion is required annually for developing countries to bridge the financing gap in achieving the SDGs by 2030. Financial institutions can and must play a part, together with governments and businesses, to help channel more funds to sustainable development. Such efforts will go a long way in making the cities of Asia more sustainable and liveable.”

The bank also launched the UOB Real Estate Sustainable Finance Framework last year to help finance the construction of sustainable buildings.

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Nestle invests over Bt4 billion to expand operations in Thailand (nationthailand.com)

Nestle invests over Bt4 billion to expand operations in Thailand

Nov 26. 2020Victor Seah, chairman and chief executive officer of Nestlé Indochina 

By The Nation

Global food and beverage giant Nestle announced that it is investing more than Bt4.5 billion to expand production at its three factories in Thailand as well as improve its presence online.

This move will also expand the number of Nestle products that are available to Thai consumers.

Victor Seah, chairman and chief executive officer of Nestlé Indochina, said: “Even though this is a challenging year, Nestlé believes in the Thai market and sees strong potential for long-term growth.

“This is why we invested in three key factories, in Amata and Bangchan as well as the Navanakorn 7 UHT plant. They will serve increased demand in pet food, ice cream and UHT beverage markets.”

Strengthening pet food portfolio

With more people treating pets as friends and family, the demand for pet food in Thailand has increased substantially. Even with the Covid-19 outbreak, with many consumers reducing spending in other categories, pet food is still seen as a necessity.

They are also willing to pay more for better quality, premium products for their pets.

Nestlé is investing Bt2.55 billion to build a new factory in the Amata industrial estate to boost its production capacity and strengthen its pet food portfolio. Production will start in mid-2021.

Introducing product innovations

Nestlé’s factory in Minburi’s Bangchan industrial estate produces ice cream. To satisfy consumers’ need for indulgence, Nestlé continually introduces innovations into the ice cream market, such as mochi ice cream that rides on the market trend of Korean and Japanese ice cream flavours.

Nestlé allocated Bt440 million to expand production lines at the Bangchan factory in October this year.

Healthy products in green packaging

The new Navanakorn 7 UHT plant produces Nestlé’s UHT product range such as Milo and Bear brand milk. Research from Nielsen shows that UHT products in the cow’s milk and chocolate malt beverage categories will grow at close to 3 per cent over the next three years, demonstrating Thai consumers’ preference for on-the-go products that are healthy and convenient.

To capture this opportunity, Nestlé allocated Bt1.530 billion, which began ramping up production in May 2020. This state-of-the-art facility reflects the global eco-trend by introducing recyclable packaging innovations. For example, Milo UHT is the first UHT product in Thailand to come with a paper straw, which aims to eliminate the use of over 500 million plastic straws in 2021.

In addition to supporting Nestlé’s ambition to have 100 per cent recyclable or reusable packaging by 2025, these three factories have environmentally-friendly production processes that reduce the company’s carbon footprint, energy use, water consumption, and greenhouse gas emissions while creating zero landfill.

Adopting technology to drive e-commerce

“Before Covid-19, the e-commerce market was expected to grow 30 per cent. But during Covid-19, we saw acceleration across all categories.

“To respond to digital trends, Nestlé established an e-Business team in 2018. Since then, we have made ongoing investments in both people and systems, with a total investment this year of Bt50 million.

“In addition, we have invested in building up our own marketing and advertising technology and data management systems. This will allow us to offer more personalised services, products, and communications that suit consumers’ needs,” Seah added.

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TrueMoney wallet launches Start Invest app for savers (nationthailand.com)

TrueMoney wallet launches Start Invest app for savers

Nov 23. 2020

By The Nation

TrueMoney, Thailand’s leading e-wallet platform, has partnered with Ascend Wealth to launch “Start Invest”, a service that allows users to open a mutual fund account and start trading.

The move will give more than 15 million users of the TrueMoney Wallet app, most of whom have never invested, opportunities to invest for the first time.

The company expects the move to bring 600,000 new accounts, boosting investments in 2021.

Initially, Start Invest offers more than 600 mutual funds from 10 leading asset management firms in Thailand. More funds will be added in the future.

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GSB launches ‘Samui Model’ to support locals hit hard by Covid-19 crisis (nationthailand.com)

GSB launches ‘Samui Model’ to support locals hit hard by Covid-19 crisis

Nov 23. 2020

By The Nation

Government Savings Bank (GSB) has launched its “Samui Model” project, bringing together more than 500 people from its management team, credit committee and GSB staff to the Koh Samui area of Surat Thani province to provide immediate assistance.

The project is focusing on approvals for urgent loans in special cases after Koh Samui’s tourism economy collapsed because of the virus situation.

GSB would also provide funds and sustenance supplies to people in need, the bank said.

Vocational training would be offered to the underprivileged, GSB said.

Free booth space also would be given to Samui local merchants and street food vendors, expecting to encourage money circulation of at least Bt1 billion to support the economy, and help the people of Samui face this difficult time, GSB said.

All activities will be held on December 8-9 at Central Festival Samui Shopping Centre in Koh Samui district.

GSB director Vithai Rattanakorn said that even though the Covid-19 outbreak in Thailand had been contained, the international community was still facing a crisis and the disease was still out of control. Being discreet in accepting foreign tourists is the only way to prevent a second wave of the pandemic in the country, Vithai said.

The lack of foreign tourists has severely impacted the Thai economy, especially areas that rely mainly on tourism, such as Koh Samui which is now desolate. Tourism-related businesses have closed, operators have suffered losses and unemployed workers have moved back to their hometowns. Local people lack incomes to support their families.

To alleviate the suffering of the people of Samui, GSB’s “Samui Model” project was conceived by the executives and employees of the bank, both from the centre and region 16. More than 500 people spent more than two months to look into the problems and help the villagers, the bank said. The project was conceived as an urgent measure for villagers to receive immediate assistance.

He added that on December 8-9, the credit committee from GSB’s headquarters, along with executives and employees, would be in the Koh Samui area to consider and approve special credit for entrepreneurs and the public so that loans could be disbursed, including consultation on debt management for existing credit customers of the bank, and providing assistance to resolve immediate problems, such as providing scholarships to children whose parents have suffered, providing capital for self-sufficient income generation either through funding or providing equipment for chicken farms, fertilizer and plant seeds, offering vocational training and livestock supply such as eggs and dried fish from locals etc.

The event will additionally open a street food and local products space, inviting shoppers to come and sell their products without charging rents for booths. Participants can win many prizes, such as store discounts, movie tickets, or supercentre discount cards. The highlight of the event is loan applicants or customers at the event who pay through the MyMo app will receive Ai Kai piggy bank of Wat Chedi Temple as a souvenir.

GSB said it has also arranged many other fun activities.

The “GSB Samui Model” is an ambitious project launched to create a positive impact in line with our stance as a social bank, GSB said.

The event will be held on December 8-9, at Central Festival Samui Shopping Centre, in Koh Samui district.

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Dusit gets ready to offer ‘more meaningful’ stays in wake of Covid-19 (nationthailand.com)

Dusit gets ready to offer ‘more meaningful’ stays in wake of Covid-19

Nov 23. 2020Suphajee Suthumpun, group CEO for Dusit International 

By The Nation

Dusit International, one of Thailand’s leading hotel and property development companies, has announced that it plans to counter the impact of Covid-19 by introducing three strategic pillars – collaboration, integration and contribution.

Under this strategy, Dusit has partnered with Local Alike, an online social enterprise dedicated to the sustainable development of Thai rural communities through responsible tourism to offer a range of tours for young families seeking a more meaningful experience during their stay.

Experiences offered under the Dusit Local Explorer scheme will have participants immerse themselves in the lives, culture and cuisine of indigenous communities around Thailand, such as the Tai Lue hill tribe in Chiang Mai and lobster-farming communities in Phuket.

To develop the partnership further, Dusit plans to provide hospitality and service training for various communities so they can enhance their skills and learn how to sustainably welcome visitors.

Volunteers will come from Dusit Hotels & Resorts as well as Dusit Hospitality Education.

Dusit will also support Local Alike’s other initiatives, including Local Aroi, which aims to develop local cuisines to fine dining standards through the creation of special set menus that celebrate stories, techniques, and sustainable ingredients behind renowned local dishes; and Local Alot, which supports the sustainable production of handcrafted goods.

“Consumer behaviour has changed dramatically during Covid-19 and it’s essential that we change our strategy and pivot our operations to meet their needs as much as possible,” said Suphajee Suthumpun, group CEO for Dusit International.

The Dusit Local Explorer programme is now available at Dusit properties in Bangkok, Chiang Mai, Hua Hin, Khao Yai, Krabi, Pattaya, and Phuket.

To cater to the luxury segment, Dusit has also teamed up with bespoke tour providers in Chiang Mai, Hua Hin, Pattaya and Phuket to provide exclusive end-to-end excursions packaged as the Ultimate Dusit Experience.

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Birdy supports Thai athletes through “Thai Team – Win Over Thais’ Heart” campaign (nationthailand.com)

Birdy supports Thai athletes through “Thai Team – Win Over Thais’ Heart” campaign

Nov 21. 2020

By THE NATION

“Birdy”, the ready-to-drink canned coffee, led by Wonnarate Sukheelak, Manager of Processed Foods Business and Beverage Business at Ajinomoto (Thailand) Co., Ltd., joined “Thai Team – Win Over Thais’ Heart” campaign to support Thai athletes who will participate in the Olympic and Paralympic Games 2020 in Tokyo.

The event was honored by Phiphat Ratchakitprakarn, Minister of Tourism and Sports and Kongsak Yodmanee, Governor of Sports Authority of Thailand, including Thai athletes and Girl Group BNK 48 who recently joined the press conference at SAT Building.

The campaign, ‘Thai Team – Win Over Thais’ Heart’, is being held by Sports Authority of Thailand, Ministry of Tourism and Sports and private sectors to encourage Thai athletes and invite Thais to participate in the event “Flag of Nation: Virtual Run for 1 Million Kilometres” with an aim to provide financial aids to Thai athletes.

Ajinomoto (Thailand) Co., Ltd. has been supporting Thai athlete teams continually since the Olympic Games 2016 in Brazil, the SEA Games and ASEAN Para Games 2017 in Malaysia, and the upcoming Olympic Games and Paralympic Games 2020 which is going to be held in Tokyo, Japan. 

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GSB to offer auto-title loans via Sawad’s Fast Money (nationthailand.com)

GSB to offer auto-title loans via Sawad’s Fast Money

Nov 20. 2020

By THE NATION

The Government Savings Bank (GSB) will next year begin offering auto-title loans at low interest of 18 per cent under a joint investment with Srisawad Corporation (Sawad), said bank president Vitai Ratanakorn.

The service will be offered through GSB’s joint investment in Fast Money, the auto-title lending arm of Sawad.

“GSB will jointly invest Bt1.5 billion with Sawad, purchasing up to 49 per cent of its shares. This will help bring down the company’s current interest rate for auto-title loans from 24 per cent to 18 per cent,” he said.

GSB began seeking a joint investor in the auto-title loan business in July, in line with the bank’s strategic expansion plan. Eight companies in the non-banking sector reportedly submitted proposals and Sawad’s Fast Money eventually won the contract.

“Sawad has more than 40 years of experience in the auto-title loan business with a nationwide network of branches and an online platform for money transactions,” said Thida Kaewbootta, investor relations officer at Srisawad Corp.

“The joint investment will benefit Sawad’s business operations by expanding its customer base, while also promoting the government’s policy of financial institutes maximising access to loans for the public.”

“In the early phase of the service, which will be available in early 2021, we will target individual customers by providing loans through over 5,000 branches of Sawad and 1,060 branches of GSB,” she added.