KBank takes on challenger banks with fintech to reach grassroots

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https://www.nationthailand.com/business/40017655


Thailand’s most profitable bank is taking on so-called challenger banks at their own game, vowing to adopt their fintech DNA to tap the loan market of grass-roots and first-time borrowers.

KBank takes on challenger banks with fintech to reach grassroots

KBank CEO Kattiya Indaravijaya said its heavy investment in technologies and business partners is bolstering the bank’s defence against digital disruption by reaching out to Thais and SMEs who previously had no access to bank loans.

KBank is investing about 100 billion baht to develop technologies, purchase fintech firms and cut deals with business partners.

The first quarter this year saw KBank outperform all rivals with a net profit of Bt11.211 billion, up 5.5 per cent from a year earlier.

“Now, our strong points are second to none and we have stability and credibility. We can answer the demands of all groups of clients,” Kattiya said while outlining the path ahead for KBank.

“What we are doing now is to integrate the DNA of challenger banks, which have been successful in disrupting conventional banks.”

Competition from challenger banks

KBank takes on challenger banks with fintech to reach grassrootsChallenger banks are small, recently created retail banks that first emerged in Britain to compete directly with established banks, usually by meeting underserved demand.

Leading fintech research company Burnmark says there are three types of challenger banks.

First are the Embryonic Challengers – who operate through mobile apps in partnership with banks.

Second are the Real Challengers – who have received banking licences and use mainly digital channels to engage with customers.

Third are the Pseudo Challengers – digital start-ups of existing banks.

Burnmark says challenger banks are more competitive because they have much lower costs, as well as low risks since their products are based on a customer-centric approach.

In 2015, UK challenger banks recorded combined profits of 194 million pounds against a drop of 5.6 billion pounds for the top five UK banks (Barclays, HSBC, Lloyd’s, Royal Bank of Scotland and Santander), according to KPMG International.

Kattiya conceded that challenger banks are now rocking the banking industry worldwide by using new technologies to reach out to people.

She said challenger banks attract customers by eliminating complicated procedures via simple and easy-to-use services that can be accessed anytime, anywhere.

However, KBank had learned their strong points and adopted them, she added.

“We now regard ourselves as the first bank in Thailand with the nature of a challenger bank because we have integrated their DNA into our services.”

New loan landscape

One aim is to place financial services and advice within easy reach of the creative and dynamic new generation, the CEO continued.

“We want to reach out to more people with our loans, which do not need collateral.” Loan approval is based instead on customers’ ability to repay the debt. They can also apply from the comfort of their home or workplace. “We want to get rid of procedures and paperwork and make everything as simplest and fastest as possible.”

She said KBank’s new challenger DNA was also helping the grassroots, freelancers and micro-businesses escape the jaws of loan sharks.

KBank will invest 22 billion baht in new technologies and systems this year, adding to the 12.7 billion it has spent over the past two years, she added.

It will also invest about 30 billion baht to buy or partner with up to five businesses over the next 12 months.

The benefits of this tech push are already being felt by customers, said Kattiya.

For example, opening a new bank account online takes just a few minutes for current customers (new clients have to wait 24-72 hours for ID checks).

Meanwhile, those with online accounts can apply for loans without visiting a branch. Once approved, loans are credited to their accounts within 30 minutes.

Kattiya pointed out that this process used to take weeks. And the 30-minute loan service will soon be extended to customers who don’t have accounts with Kbank.

The bank is also pioneering so-called “buy-now-pay-later” loans for freelancers and people without a fixed income. The new service is approving about 1,600 loans per day averaging Bt1,500 with a maximum of Bt20,000.

It has also partnered with Line to offer loans to low-income people, freelancers and people nervous about visiting branches. The Line BK loan service uses algorithms and social media data to approve loans within five minutes for existing customers and 24 hours for those without a KBank account.

A third of Line BK customers are first-time borrowers while almost half are freelance workers or earn less than Bt15,000 per month. The service aims to extend loans to 200,000 people this year.

Kattiya added that the bank is in talks to provide collateral-free loans to small vendors and their customers upcountry.

Published : July 12, 2022

By : THE NATION

PTT to contribute 3 billion baht to oil fund

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https://www.nationthailand.com/business/40017653


The board of directors of PTT Plc has approved a contribution of 3 billion baht to the special oil fund, which has been used to reduce the cost of the living burden on the public, PTT president and chief executive officer Auttapol Rerkpiboon said on Tuesday.

PTT to contribute 3 billion baht to oil fund

He said the PTT board resolved on Monday to contribute the money to provide urgent relief to the public as society has already been severely hit by the economic crisis caused by the Covid-19 pandemic.

The PTT would contribute Bt1 billion each month to the oil fund for three months to support the government’s subsidy on oil prices as well as support the government’s efforts to maintain energy stability, Auttapol said.

He added that since the country has been hit by an energy crisis since 2021, PTT has contributed over 14.8 billion baht to help the government provide subsidies to reduce the people’s energy costs.

Auttapol said PTT decided to help the government provide subsidies because PTT is a public company and a state firm that realises the impact of the energy crisis on the country’s economy and the people.

He said PTT has been helping vulnerable groups survive the energy crisis.

For example, it has been reducing the cost of LPG gas prices for low-income people, street food vendors and the poor who hold state welfare cards.

He said state welfare holders are eligible to buy cooking gas at lower prices since October last year until now.

He said PTT also maintained the current NGV prices for motorists and taxis in Bangkok and suburban provinces.

PTT has also provided crude oil to the Electricity Generating Authority of Thailand to help them lower the cost of generating power, Auttapol added.

He said PTT has also granted 1.046 billion baht to help members of society affected by the Covid-19 crisis, through its “Same Breathe” programme.

In total, PTT has spent 3.3 billion baht to help society via several measures from January to April this year, he added.

“PTT is ready to act as a key force in supporting all the sectors and helping and taking care of society and communities to help Thais survive the crises together as fast as possible,” Auttapol said.

Published : July 12, 2022

By : THE NATION

Unlocking the key to success and unraveling the secrets of GAME-ON’s powdered supplement drinks: A business prototype from the “Introduction to Export Business” program

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https://www.nationthailand.com/business/40017651


Bangkok, July 5, 2022 – V Inspire Co., Ltd., manufacturer and distributor of Powder Drink Dietary Supplement Product enhancing brain and concentration under the GAME-ON brand, shared the key to success and unlocked the secrets of its dietary supplement product after being afforded the opportunity to partake in the “Introduction to Export Business” program (Batch 141) under the joint auspices of the New Economy Academy (NEA), the Department of International Trade Promotion, and the Ministry of Commerce.

Unlocking the key to success and unraveling the secrets of GAME-ON’s powdered supplement drinks: A business prototype from the “Introduction to Export Business” program

The company was touted as a promising and competent business operator whose products warranted the government’s assistance in exporting them to international markets and helping them gain recognition in the international trade arena.

Mrs. Supamas Tesharojanasup, Managing Director of V Inspire Co., Ltd. and representative of the “Basic Exporter” program (Batch 141), discussed the concept of the dietary supplement product under the brand of GAME- ON and stated, “It is a dietary supplement product predicated on the ever-changing lifestyles and behaviors of present-day consumers who mostly rely on mobile phones and computers to either perform work or play games in everyday life.  These behaviors result in both brain and body fatigue requiring them to maintain their health and stamina. Aside from taking proper rest and exercising, dietary supplement products are another alternative that can help to increase the effectiveness of brain and neuro system functions. GAME-ON can also help them relax and reduce the risks of optic nerve degeneration caused by exposure to blue light. 

Unlocking the key to success and unraveling the secrets of GAME-ON’s powdered supplement drinks: A business prototype from the “Introduction to Export Business” program

“GAME-ON’s powder drink, dietary supplement product is product containing natural green tea extract, and others ingredients namely, L-Theanine L-Tyrosine, vitamins A, B6, and B12, zinc gluconate, and blueberry extracts, all of which remain active in your brain system for five hours and deliver results after your first drink.  The company developed formulae with the pharmacists and researchers of 3 C Group – a company that created formulas, imported raw materials, and recruited experienced supplement manufacturers with globally recognized GMP and HACCP standards. At present, our product are available for sale at 7-Eleven convenience stores and online social commerce, e-commerce platforms.

Unlocking the key to success and unraveling the secrets of GAME-ON’s powdered supplement drinks: A business prototype from the “Introduction to Export Business” program

“Our business goal was to expand the exportation of these products to international markets.  However, we did not know where to begin, as the exportation process was ridden with complex and detailed steps.  That being the case, we lacked the confidence in this particular area until we spotted the advertisement of the training program sponsored by the Ministry of Commerce. The program offered theoretical and practical training in the export field; therefore, we became interested and applied for the aforementioned program. Also noteworthy was the fact that the program brought together a group of experienced speakers specializing in export techniques. Their advice was equivalent to a compass that served as a shortcut to concrete actions.  Conducted systematically, the program introduced participants to export regulations from beginning to end, e.g., registering trademarks to protect brands, price-setting, determining countries for exports, writing business plans to carefully create business models before proceeding to export products. 

Unlocking the key to success and unraveling the secrets of GAME-ON’s powdered supplement drinks: A business prototype from the “Introduction to Export Business” program

“After receiving this training, we gained an understanding of the basic export procedures from the very first step to the end stage of export operations and techniques. In addition, we were also equipped with the basic knowledge of export and the ability to form export business plans and spot all the existing loopholes that should be addressed before launching export operations. From then on out, exporting products was no longer a difficult task as we initially thought. We must express our sincere thanks to the New Economy Academy (NEA), the Department of International Trade Promotion, and the Ministry of Commerce, as they collectively supported and refined Thai entrepreneurs to reach international standards. These organizations functioned as hubs that raised the level of export businesses by leveraging their trade partners worldwide to become a robust network for entrepreneurs to export Thai products.

“If business operators have the products that meet the standards and needs of trade partners, chances are high that they will get to export every type of their products,” Mrs. Supamas added. 

Unlocking the key to success and unraveling the secrets of GAME-ON’s powdered supplement drinks: A business prototype from the “Introduction to Export Business” program
Unlocking the key to success and unraveling the secrets of GAME-ON’s powdered supplement drinks: A business prototype from the “Introduction to Export Business” program

Published : July 12, 2022

By : THE NATION

Ajinomoto Group responds to climate change by reducing greenhouse gas emissions to become carbon neutral

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https://www.nationthailand.com/business/40017637


Ajinomoto Group, as a global manufacturer of high-quality food and amino acid-based products, has set its commitment and new target to become “Carbon Neutral” with an effort to achieve net-zero greenhouse gas emissions by 2050.

Ajinomoto Group responds to climate change by reducing greenhouse gas emissions to become carbon neutral

“We aim to achieve our target of environmental protection and sustainability by 2030 by reducing the environmental impact of business operations by 50% compared to fiscal 2018. With a clear determination and intent to engage in proactive greenhouse gas emission reduction, Ajinomoto Thailand could achieve a reduction of CO2 emissions by 267,000 tons in the past 3 years, or the equivalent of carbon dioxide absorption by over 30 million trees,” said the company.

Ajinomoto Thailand has been emphasizing on energy saving and efficient resource usage to reduce carbon dioxide emissions through excellent internal management regarding energy efficiency and greenhouse gas emissions reduction in the production process. The company has modified electrical equipment or developed innovations to improve machine performance with minimum energy consumption. In addition, alternative and renewable energy are also used in the production process, for example, using biomass boiler technology, cogeneration power plants (biomass), and solar energy instead of using fossil fuels.

Ajinomoto Group responds to climate change by reducing greenhouse gas emissions to become carbon neutral

Meanwhile, the company also contributes to reducing indirect CO2 emissions from electricity purchases by joining forces with the Electricity Generating Authority of Thailand (EGAT) and partnering with private companies to contract a total of 305,000 RECs of renewable energy licenses to support the reduction of the country’s greenhouse gas emissions by using 100% renewable purchased electricity from the year 2021 and so on. 

Ajinomoto Group responds to climate change by reducing greenhouse gas emissions to become carbon neutral
Ajinomoto Group responds to climate change by reducing greenhouse gas emissions to become carbon neutral

The Ajinomoto Group aims to become a “Solution-providing Group of Companies for Food and Health Issues” which has been contributing to resolving food, health, and nutrition issues for people worldwide. The group placed great importance on sustainable environmental protection along with maximizing the efficient use of food resources and conservation of natural resources. All of this is part of our dedication that reflects our core business operation of “The Ajinomoto Group Creating Shared Value (ASV)” as a conceptual framework for the Ajinomoto Group’s work worldwide.

Ajinomoto Group responds to climate change by reducing greenhouse gas emissions to become carbon neutral

Published : July 12, 2022

By : THE NATION

Plus Property Seizes No.1 for Quality Management Systems The First in Thailand Certified for 3 ISO Standards

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https://www.nationthailand.com/business/40017513


Plus Property, the full-service professional property and facility management agency, is confident of the Thai economy’s recovery in the second half of this year. It now aims to bolster the confidence of consumers by improving the quality of living, property management and amenities at client property projects.

Plus Property Seizes No.1 for Quality Management Systems The First in Thailand Certified for 3 ISO Standards

Having attained ISO certification for 3 global standards, PLUS can now be considered the number one in property management Thailand has to offer and stands ready to deliver constantly improving property management service.  Achieving 3 ISO standards reinforces PLUS’s leadership in professional, full-service management of properties and facilities that answers to ever-changing client demands amid evolving challenges and opportunities.

Mr. Anukul Ratpitaksanti, managing director of Plus Property, the full-service professional property and facility management agency, revealed that “Based on performance over the first 5 months of the year, PLUS can be considered to have received good response from clients. 550 million baht of income has already been earned, amounting to 46% of the 1.2-billion-baht target. The majority of income came from managing property projects – this has received good support from clients, 98.5% of whom extended their contracts with the company. The company remains committed to finding new clients to add to its portfolio. Most recently, PLUS received the ISO 14001 : 2015 certification for its environmental management system, making it the first and only property management company in Thailand to be certified for 3 systems. The first certification, ISO 9001: 2000, was earned in 2002 and covers the quality management system. This standard has undergone continual adjustment and re-certification was achieved in 2008 and 2018 – ISO 9001 : 2015 is in use for management systems at present. In March, certification for ISO 41001: 2018 was achieved for the facility management system. These are expected to become noteworthy features that attract the group of clients looking for a quality property management team which employs global standards in administration”.

Plus Property Seizes No.1 for Quality Management Systems The First in Thailand Certified for 3 ISO Standards

PLUS having passed the ISO 14001 : 2015 certification for environmental management system, one of the most recent global standards, is a good guarantor of the fact PLUS has an effective and recognized work process in the environmental aspect. Importance is placed in managing 5 main issues, which are green space, waste management, wastewater treatment, energy saving and carbon footprint. Furthermore, campaigning takes place to promote environment-mindedness among building users and residents at projects. PLUS recognizes the importance of managing a property project with an aim of promoting a good quality of life. It therefore encourages environmentally friendly business operations that contribute toward sustainable development. Initiatives to add green space are carried out, with an example being the Backyard program for the cultivation of toxins-free vegetables and fruit at condominium projects and housing estates. Gardens and green areas at a property project are kept lush and shady so they can keep absorbing carbon dioxide and providing shades and respite from the heat. There is also a “Tree Day” program to promote tree planting.  Waste management is promoted among building users and project residents with an aim of fostering a sustainable society. This begins with people partaking in waste sorting; waste can then be managed and recycled properly. The scope may also expand to include wastewater treatment. In addition, the standard for the maintenance of machinery is geared toward reducing carbon emission. PLUS is determined to elevate its standards of operation toward the global level in all aspects. This is so it may deliver a good quality of life to residents and building users without compromising on any dimension.

Plus Property Seizes No.1 for Quality Management Systems The First in Thailand Certified for 3 ISO Standards

PLUS’s business activity is carried out under a 5’S approach for clear and robust conduct of business. The 5 keys enable PLUS to delivery good quality and experiences to clients and promote quality of life for residents in a way that responds to all aspects of their needs. These keys, which also contribute to the creation of model residential communities, consist of:

1. SECURE LIFE. To do away with any safety worries among the residents, the Sansiri Security Inspection (SSI) team provides inspection as well as training to the on-site personnel.  Security work is professionally regulated and personnel are ready to step in to handle all situations.  Security also makes use of smart technologies such as the LIV-24 command centre, the Digital Fence, AI CCTV analytics and a guard tour patrol tracking system.  These technologies augment security work in real time, 24 hours a day.

2. SPLENDID HOME. Assets at all projects are maintained to preserve the visual appeal. Overall building facility, including the building condition, common area and shared assets, are looked after so they remain clean, functional and appealing. The environs and landscape are managed and green space is looked after to ensure a refreshing atmosphere conducive to living. The originality of each project is preserved over time.  Due to these efforts, the value of properties at each project will increase in the future.

3. SUPERIOR SERVICE. PLUS’s service entails professionalism that is delivered through service-minded personnel who have been trained by PLUS Eduplex. This institute nurtures the level of care that responds to clients’ diverse needs. All situations are handled professionally and based on standardized protocols while administrative work is transparent and traceable. PLUS also makes improvements to its work at each project by taking input from the residents.

4. SMOOTH LIVING. Expertise in the relevant systems, including in building systems engineering, is leveraged. A central support team of engineers and specialists is on hand when needed. Maintenance is planned in phases, including for the short, medium and long terms. This keeps the various building systems intact and optimal. Said systems include but are not limited to the water feed system, wastewater treatment system, fire alarm system, electrical system, lifts system and the plumbing. These are being kept at 100% functionality so residents’ quality of life does not drop and interruptions to daily life are avoided. These maintenance efforts also help reduce expenses at a property project in the long term.

5. SUSTAINABLE. PLUS aims to be an organisation that makes environmental contributions and promote sustainability. This applies to the management of green space, waste and energy. In 2021, PLUS and residents at about 140 property projects were able to reduce the amount of waste sent to the landfill by 220 metric tons. This year, the target is to cut landfill waste by a further 300 metric tons. This would equate to reducing carbon dioxide emissions by 225,000 KgCO2. The effort will also nurture a mindset growth that expands from the home toward society at large, eventually leading to people’s behavioural change and culminating in a New Normal that is more sustainable in the future.

Plus Property Seizes No.1 for Quality Management Systems The First in Thailand Certified for 3 ISO Standards

“Today, PLUS is ready to clearly declare it is committed to preserving as well as elevating its service level in accordance with international standards. This is made possible by expertise in all fields, from counselling on property projects management, looking after building systems engineering and managing assets and finances to designing services and delivering them according to the demands of clients. Property projects are managed using quality personnel. Once the second quarter ends, 660 million baht of income is expected to have been generated. Residential projects management makes up the dominant portion of the ratio, followed by facility management, sales management and LIV-24. We will proceed to find new clients in a multitude of industries in order to support a continued growth of our business. These are considered the challenges for this yearม” said Mr. Anukul.

Plus Property Seizes No.1 for Quality Management Systems The First in Thailand Certified for 3 ISO Standards

PLUS Property currently manages some 300 residential projects and commercial buildings, looking after a combined area of 13 million square metres.  Those interested in PLUS’s services can get more information from plus.co.th or by dialling 02-688-7555.
 

Published : July 12, 2022

By : THE NATION

SCBX considering sale of asset management subsidiary

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https://www.nationthailand.com/business/40017602


SCBX, the ‘mothership’ company of the SCB Group, is currently considering options, including a sale of its subsidiary SCB Asset Management (SCB), according to the company’s letter to the Stock Exchange of Thailand on Monday.

SCBX considering sale of asset management subsidiary

The move came after a Bloomberg report revealed that SCBX has been in talks with financial advisers to explore a potential transaction for SCBAM.

Bloomberg added that a potential deal could value the business at US$1 billion to $1.5 billion (36 billion to 54 billion baht).

SCBX said that SCBAM is an important business for the company’s strategy, adding the company will continue evaluating strategic options, offers and opportunities, including advice from external consultants.

“The discussion on options is currently at the beginning, and the company would like to confirm that there is no certainty that any action will be taken,” SCBX said.

“If there is a transaction, the company will disclose information in line with SET criteria,” it added.

SCBAM was set up on March 18, 1992, to manage mutual funds, provident funds and private funds. According to the company’s website, Its net asset value under management as of May 31 was 1.6 trillion baht.

Published : July 11, 2022

By : THE NATION

SCBX Group sets to become a NET ZERO Financial Technology Group by 2050

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https://www.nationthailand.com/business/40017598


SCBX Group is embarking on an important mission to join the world’s leading companies in becoming a Net Zero financial technology group by 2050, positioning itself as a pioneer in driving and inspiring society to develop sustainable businesses and help the environment for the next generation.

SCBX Group sets to become a NET ZERO Financial Technology Group by 2050

The Paris Agreement to limit global warming to well below 2, preferably to 1.5 degrees Celsius is a monumental collaboration by the international community to reduce greenhouse gas emissions in order to avert imminent environmental catastrophe. Governments and businesses worldwide are collaborating to expedite policies and coordinate efforts to prevent catastrophic environmental disasters by 2050.

SCBX Group, as a key regional enterprise, recognizes its critical role and responsibility to society and the younger generation, who are heading toward a future that may confront substantially worsened environmental conditions. The Group undertakes to halt all forms of greenhouse gas emissions by establishing an environmental commitment in support of the global agreement that will enable businesses supervised by SCBX Group to achieve a net zero commitment of greenhouse gas emissions from its own operations by 2030 and from lending and investment by 2050, as agreed by the international community in the Paris Agreement through four strategic thrusts. 
 

First, SCBX Group will prioritize the transformation of internal energy operations and management processes and invest in clean energy with the lowest carbon emissions through the adoption of smart building management systems, the modification of equipment and infrastructure, and the replacement of all current vehicles with electric vehicles.

Second, SCBX Group has set aside a credit line of 200 billion baht by 2030 for lending to businesses or projects seeking to focus on reducing greenhouse gas emissions, as well as raising awareness and providing advisory aligning with recommendations by world class consultant.

Third, SCBX Group will invest an initial amount of 200 million USD in global funds and companies focusing on the development of technologies for carbon capture and storage, utilization, reduction and removal, and in the development of platforms necessary to drive a broader carbon footprint reduction, such as an electric vehicle (EV) rental platform.
 

Fourth, SCBX Group will embrace the global climate change management standard by adopting the Partnership for Carbon Accounting Financials (PCAF) for assessing its greenhouse gas emissions and determine its target in accordance with the Paris Agreement based on the Science Based Targets Initiative (SBTi). SCBX Group is the first Thai financial institution to join the PCAF and SBTi, including the Task Force on Climate-related Financial Disclosures (TCFD) to increase sector-wide transparency.

SCBX Group shares a global concern about the global impact of environmental issues and greenhouse gas emissions during and for the coming decade. The Group has therefore pledged the solid commitment to play a vital role in changing and resolving global warming in every way possible in order to create a habitable planet and a viable business for future generations.
 

Published : July 11, 2022

By : THE NATION

THAI overhauls retired planes expand fleet for high season

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https://www.nationthailand.com/business/40017579


National carrier Thai Airways International (THAI) is refurbishing five planes slated for decommissioning in a bid to expand its fleet ahead of the high season this year.

THAI overhauls retired planes expand fleet for high season

THAI also believes it will generate up to 80 billion baht in revenue now that foreigners have started returning to Thailand.

The planes set to undergo an overhaul include three Airbus A330s and two Boeing 777-200s, Nond Kalinta, THAI’s executive vice president for commercial, said on Sunday. He added that these planes will be used for routes with high demand like South Korea, Singapore and Japan.

“We believe this year’s high season will see the highest number of passengers in the last two years. The airline expects 4.48 million passengers for the whole year and a total income of 80 billion baht thanks to the lifting of travel restrictions for foreigners since July 1,” he said. “Next year, we expect the number of passengers to rise to 9.18 million and total income to 129 billion baht.”

Nond added that the airline industry is recovering very fast after being hit the hardest by the Covid-19 pandemic for two years.

“For THAI, the average cabin factor is now at 70-80 per cent, with European markets having the highest cabin factor at 90 per cent. The advance booking rate in July is now at 60 per cent and is rising continually,” he said. “Average passengers of THAI and Thai Smile in June this year jumped to 12,568 and 12,257 persons per day, respectively, compared to an average of 269 and 4,929 persons per day recorded between April and October 2021.”

Nond said THAI will increase flight frequency and destinations in the first and second quarters of 2023, introducing more flights to Delhi, Mumbai, Chennai, Bengaluru, Lahore, Karachi, Islamabad, Hanoi, Ho Chi Minh City, Phnom Penh, Melbourne, London, Jakarta, Dhaka, Frankfurt, Taipei, Singapore, Copenhagen, Munich and Zurich.

In the third quarter, the airline will add more flights to Jakarta, Taipei, Singapore, Copenhagen, Munich, Zurich and Seoul.

THAI also recorded 2.1 billion baht income from cargo transport in May, jumping 41 per cent compared to the same period of 2019.

Published : July 11, 2022

By : THE NATION

GSMA report shows 5g coverage is set to accelerate across Asia Pacific – but the usage gap remains significant

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https://www.nationthailand.com/business/40017534


Despite mobile broadband coverage in 96% of the region, it has the largest regional usage gap worldwide

GSMA report shows 5g coverage is set to accelerate across Asia Pacific – but the usage gap remains significant

Thailand (July 8, 2022) – The GSMA has published its latest Mobile Economy Asia Pacific 2022 report, which delivers a detailed picture of the region’s adoption of mobile internet. At present, mobile broadband networks cover around 96% of the population, a testament to operators’ investment in 3G, 4G and, increasingly, 5G infrastructure. However, just 44% of the population (1.23 billion users) are using mobile internet services. 

The reasons for this discrepancy include lack of digital skills, affordability and online safety concerns. This year’s report outlines how countries are addressing this usage gap. 

“Addressing the usage gap and extending the benefits of the internet to more people in society is critical,” said GSMA’s Head of Asia Pacific, Julian Gorman. “However, it will require a concerted effort by a broad range of stakeholders, working together with mobile operators and other ecosystem players such as device manufacturers and digital content creators, to drive adoption and overcome the barriers we see today.”

GSMA report shows 5g coverage is set to accelerate across Asia Pacific – but the usage gap remains significant

Mobile delivers economic and societal benefits

Mobile technologies and services continue to make a significant contribution to Asia Pacific’s economy, generating 5% of GDP in the region in 2021, which equates to around $770 billion of economic value. This ecosystem supported approximately 8.8 million jobs in 2021 and made a substantial contribution to the funding of the public sector, with around $80 billion raised through taxation.

400 million 5G connections by 2025 

5G adoption is set to accelerate across the Asia Pacific region as the technology’s footprint expands. Today, it is commercially available in 14 markets, with others, including India and Vietnam, going live in the coming months. 

According to the report, by 2025, there will be more than 400 million 5G connections, equivalent to just over 14% of total mobile connections. Progress is more advanced in   countries like Australia, Japan and South Korea and in Singapore 5G is expected to account for 55% of the country’s connections by 2025. 

Metaverse momentum in Asia Pacific

The report also explores the advent of the metaverse and highlights various 5G use cases and other related activities in the region. 

Notably, government bodies in the region have started outlining plans to harness the potential of the platform to increase the efficiency and quality of public services. South Korea has plans to spend $186.7 million to create its metaverse ecosystem, and Thailand’s Tourism Authority leveraged the technology to boost tourism in the country.  
 

Policies for digital innovation

Policymakers and regulators can fuel growth and innovation by establishing a flexible forward-looking regulatory regime to support mobile network deployment and operations. The report provides insights on focus areas where regulatory reforms would yield maximum rewards for the region.

Mobile 360 Asia Pacific in Singapore    

APAC’s adoption of 5G will be centre stage at the GSMA’s Mobile 360 Asia Pacific conference on 2-3 August 2022 at the JW Marriott South Beach Hotel in Singapore. The two-day agenda will include thought-provoking keynotes and discussions on how a digital nation strategy is essential in the post-pandemic global economy. 

For more information visit www.mobile360series.com/asia-pacific. You can also follow developments on Twitter @GSMA using the hashtag #Mobile360 or www.facebook.com/Mobile360Series.
 

Published : July 09, 2022

By : THE NATION

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

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Gulf Energy Development Public Company Limited (GULF) joins forces with Thailand’s leading professional football club, Buriram United Football Club to continue the “GULF Football Clinic” for the second year at Chang Training Ground 1, Buriram province.

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

Ateam of coaches trained and mentored 34 young footballers with basic football skills to pave the way to their dreams of becoming sport professionals. The participating students and teachers have travelled from Wat Ta Kuan School, Map Ta Phut District, Rayong Province to join this activity.

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

Mr. Tanon Tantisunthorn, Chief Corporate Affairs Officer at Gulf Energy Development Public Company Limited said, “GULF Football Clinic is a part of the Gulf Football Camp project, which consists of three major activities; the renovation of the community’s old football field, the Trial Tournament of youth football to recruit outstanding young talents for the apprenticeship at world-class football club; and the community’s football clinic. GULF wants this project to be a comprehensive foundation to unleash these youth’s potentials. Participating in this football clinic will not only sharpen their sports skills that are useful for physical education, but also strengthen their soft skills like patience and self-discipline that they can apply in their daily lives even though they no longer aspire to be a professional athlete.”

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

Mr. Chonchanok Chidchob Director of Youth Development at Buriram United Company Limited said, “We hope that this football clinic will be a great starting point that develops youth’s skills and offers opportunities for them to carry on that aspiration towards career in sports industry”

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

Ms. Thanyalak Siriparu and Mr. Thanet Pano, teachers from Wat Ta Kuan School stated, “The students joining this activity are all football enthusiasts. We see that this activity helps develop their basic skills of sports and sparks their dreams to become sport professionals through practicing with coaches. The participating students will also pass this inspiring experience on to their friends and family. We would like to thank GULF for recognizing the importance of sport and delivering great opportunities to the students of Wat Ta Kuan School.”

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

Pattakorn Makarom or Nine, student representative from Wat Ta Kuan School shared the experience, “I aspire to be a footballer one day since I love to play football after school. The coaches here taught me a lot of skills e.g. touch and ball control, heading, and dribbling. I am so delighted and grateful to join this activity and to have an opportunity to learn from great coaches. I will make use of the skills I have gained to practice playing football with my friends going forward.”

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

In addition, young footballers participating in this project had visited Phanom Rung Historical Park and enjoyed the AFC Cup 2022 match between Tainan City FC (Taiwan) and Eastern Long Lions (Hong Kong) at Buriram Stadium.

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

Buriram United Football Club and Gulf Group join forces with the aim to lay the foundation and develop Thai football industry starting from youth to inspire and encourage them to build upon that aspiration to become a professional footballer in the future.

#GulfFootballClinic
#BuriramUnited

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

GULF and Buriram United spark young footballers’ dreams with “GULF Football Clinic” for the second year

Published : July 08, 2022

By : THE NATION