The purpose of this project is to transform Phuket into a Smart City and respond to the government’s Thailand 4.0 initiative through renewable energy development.

As part of this collaboration, Banpu Infinergy and Phuket City Development will study the feasibility of setting up microgrid systems through the use of energy storage systems in appropriate areas across Phuket, installing solar rooftop systems to make the best use of electricity and by exploring the possibility of using electric vehicles to enhance the population’s quality of life.

Banpu Plc’s chief executive officer and director of Banpu Infinergy Co Ltd Somruedee Chaimongkol said that Banpu Infinergy will continue to invest in renewable energy.

The company will not limit itself to solar energy but also explore the possibility of expanding to energy storage and energy management systems to help the government achieve its Smart City initiatives.

Voravuth Mala, Acting governor of the State Railway of Thailand (SRT), said that the new service offers convenience and another payment channel for train passengers.

He added that SRT and KBank have installed EDC machines at many train stations to accept fare payment with VISA and MasterCard credit cards. There will be 140 EDC machines available at 56 main stations including Bangkok, Chiang Mai, Ubon Ratchathani, Nongkhai, Hat Yai Junction, Chumphon, among others. Of this, 14 are located at Bangkok station. Customers will be able to scan QR code of any mobile banking service via EDC to buy train tickets. This initiative marks another milestone of SRT to embrace the cashless society. Additional EDC machines will be gradually installed to ensure service coverage.

At present, 2.4 million Thai and international passengers use rail transport services per month or around 80,000 daily and the number is set to increase in line with Thailand’s booming tourism industry, particularly after the completion of additional rail transport systems including dual-track railway and high-speed train. Currently, a majority of 92 percent of passengers prefer using cash to pay for train fares, with only 6 percent of them using credit card for payment.

 Digital solutions designed for business partners, namely property developers and property search portals, will also be offered with application programming interface (API) access to mortgage applications by the end of this year. The move is aimed at keeping the brand a top choice among customers, the bank’s executive vice president, head of mortgage loan division Nathapol Luepromchai said yesterday.

“In the first phase, we will focus on a high-tech, high-touch approach. We have developed a mobile application for mortgage calculations, including installment periods and plans, interest rates or even expected payment amounts over 3-5 years, of which information can be shared via LINE, email or other online channels. Some of mortgage loan sales staff and branch staff have already used this app. We will finish nationwide rollout soon,” he said.

Krungsri has set a stable growth target for the mortgage loan business under an appropriate risk level. Krungsri aims to see its new home loans growing by 11 per cent to Bt63 billion and outstanding loans by 11 per cent to Bt240 billion this year, he said.

Thanasarn, 45, had been working for a milk producer when he seized the opportunity to start his own business. A decision to add production capability to the business now sees the milk go out to local schools under his own brand, Gold Milk, among other related ventures. With the combined production and distribution operations, sales come in at an average of Bt700 million a year.

“I decided to establish my own business when my employer, who was a producer and distributor of milk to the market, needed a new distribution agent to get this product to the market,” Thanasarn said in an interview with The Nation recently.

“My employer suggested to me that I open my own firm to act as his distribution agent. As a result, I decided to spend some of my savings and added this to a loan from a commercial bank to establish my own business, TK Dairy Gold Co Ltd. It began with registered capital of Bt1 million in 2002.”

After building up the distribution business, Thanasarn undertook an expansion that saw him invest his own funds in the establishment of a production plant to produce pasteurised milk and UHT milk.

He bought the raw cow’s milk from farmers and distributed the pasteurised and UHT milk under the school milk programme in Chiang Mai province.

The expansion continued when he set up his own dairy farm in 2004, with imports of Guernsey cows from Australia. The milk they produce is known for its distinctive yellow colour, and the golden hue lent itself to the name of the Gold Milk brand.

“I learnt how to do the business from my old employer, but then I sought to improve my skills by studying for a bachelor’s degree in marketing from Far Eastern University in Chiang Mai,” said Thanasarn, who continued working during that period. “I then gained a master’s degree in agro-industry from Chiang Mai University and also graduated with a PhD.

“By working and studying at the same time, that helped to improve my business skills and thus expand the business from being a distributorship to also own and run a farm and a manufacturing plant. This helped to ensure our business success and generate strong income to improve our business growth.”

Gold Milk Group comprises four companies. TK Dairy Gold Co Ltd, which buys milk from farmers, now has a total of 122 farms in Lam Phun, Gold Milk Co Ltd produces and distributes school milk, while TK Ranch Farm Co Ltd operates the dairy farm, and Gold Milk Farm Co Ltd produces and distributes the Gold Milk brand via modern trade channels to the market.

Of the group’s average annual sales of Bt700 million a year, the school milk business contributes Bt300 million, Thanasarn said.

“We are negotiating with Charoen Pokphand Group, which showed its interest in developing the high-speed train project by buying the terms of reference last month, and we also negotiating with PTT Plc and our existing partners in the construction of the Yellow and Pink rail lines, Sino-Thai Engineering & Construction Plc and Ratchaburi Electricity Generation Holding Plc,” said Keeree, referring to the showpiece project of the high-speed line connecting the Suvarnabhumi, Don Muang and U-Tapao airports.

“We also are negotiating with foreign firms that are interested in developing the country’s high-speed train, too. For our business view, we are open to collaborating with all our partners to develop the country’s infrastructure projects.

“If we have the best partners on board, that will help us to strengthen the way we do business.”

However, Keeree said he could not say whether any deals had been concluded with any of these partners, as all the companies that had bought the terms of reference are studying the project now ahead of the submission of bids on November 12.

“If we cannot win the bid for the high-speed train, we may ask the winner about possibilities for doing some work or joining with them for any later projects,” he said.

“Our idea is that can cooperate with all of our partners when suitable projects arise.

“Meanwhile, we will continue to join the bidding for other infrastructure projects that are opened up, especially for rail systems and infrastructure in the Eastern Economic Corridor (EEC).”

Keeree said the company is negotiating with the Bangkok Metropolitan Administration (BMA) to expand the rail line at Taksin station to a double-track route on the Silom Line. The BMA has applied for an environmental impact assessment (EIA) to be carried out. If the EIA is approved, the company is willing to undertake the conversion work for a double-track route and this would take about two years to complete. The improvement would reduce delays on services from Taksin station to Bang Wa and Silom.

“The investment budget to expansion rail system at Silom line will over than Bt1 billion. Who will invest for this that will negotiating between us and Bangkok Metropolitan Administration again, that is depending on the condition to do, however, this has to do for reduce traffic in this line,” he said.

The 46 new trains that will delivery to the company in the third quarter of this year and the next year also increase capacity up to 10 per cent from its existing trains that will also increase its capacity to transport the passenger, he said.

At the same time, Moody’s has also affirmed PTT’s baseline credit assessment (BCA) at baa2. The outlook on all ratings remains stable.

“The affirmation of PTT’s Baa1 ratings reflects its strong credit

metrics, solid liquidity profile and healthy cash flow generation, even after taking into account its proposed US$4.3 billion debt-funded acquisition of Glow Energy Public Company Limited, a power company based in Thailand,” said Rachel Chua, a Moody’s analyst.

Moody’s expects PTT’s post-acquisition retained cash flow and adjusted net debt to stay at around 55 per cent and 60 per cent over the next two years, which is healthy relative to the quantitative downward rating guidance of 25 per cent for its rating level.

Its EBITDA interest coverage will remain strong at 9x-10x.

“We believe this acquisition is in line with PTT’s strategy to grow its presence in the Thai power sector such that it more than doubles total power generation capacity to over 5GW. It will also allow the company to leverage on Glow’s operational expertise in the sector,” said Chua.

Through its 75 per cent effective stake in Global Power Synergy Public Company Limited (GPSC), PTT announced that it has signed a sales purchase agreement with French utility company Engie (A2 stable) to acquire its 69 per cent stake in Glow Energy Public Company Limited for Bt97.6 billion.

GPSC will also have to make a tender offer for the remaining 31 per cent stake held by public shareholders at the same price, bringing the cost of acquiring 100 per cent of Glow to $4.3 billion.

“PTT’s Baa1 ratings continue to reflect its baa2 BCA and a one-notch uplift resulting from our expectation of a high likelihood of extraordinary support from the Government of Thailand [Baa1 stable],” said Chua.

The baa2 BCA reflects the company’s strategically important position as Thailand’s national integrated oil and gas company and sole operator in gas transmission and distribution, significant upstream production and control over around 60 per cent of Thailand’s total refining capacity, strong and resilient credit metrics through periods of sustained low oil prices given its integrated business model; and strong liquidity profile, with a large cash balance.

The company also introduced three new joint-ventures; Intouch Holdings Public Company Limited by InVent Project, Invest Venture Company Limited and Premier Advisory Group Company Limited which manage the trust of SME Private Equity Trust Fund by the Government Saving Bank and Stock Exchange of Thailand.

The aim is to bring the company into IPO of the stock exchange within 2020.

Tanapon Subsomboon, CEO of YDM in Thailand, said: “We will provide complete digital marketing solutions services under the concept of ‘drive, connect, grow’. We are ready to push forward unceasingly in order to be the major wheel of digital business by connecting potentials of all companies in the group as a whole in order to grow together for all companies, customers, partners and investors.”

Tanapon said: “The capital acquired from the joint venture not only helps the capital flow of the company’s operation which has grown up for 100 per cent in every year, but it also has been used to expand the investment and extend new businesses.”

The purpose of the project is to transform Phuket into a smart city and respond to the government’s Thailand 4.0 initiative through renewable energy development.

As part of this collaboration, Banpu Infinergy and Phuket City Development will study the feasibility of setting up micro-grids through the use of energy storage across Phuket, installing solar rooftop panels and by exploring the possibility of using electric vehicles.

Somruedee Chaimongkol, Banpu CEO, said: “As a leading energy company that supports the most efficient use of energy, Banpu Infinergy will continue to invest in renewable energy. We will not limit ourselves to solar energy but also explore the possibility of expanding to storage and management systems to help the government achieve its smart city initiatives.

“Phuket is one of Thailand’s prime cities for tourism and economic development. The city is equipped with the infrastructure for renewable energy use, which could significantly contribute to economic growth. Banpu Infinergy is pleased to be partnering with Phuket City Development in promoting the use of renewable energy which could enable Phuket to become a world-class tourist city that not only consumes energy efficiently but also improves quality of life while conserving the environment.”

Karn Prachumpan, CEO of Phuket City Development, said: “Our partnership with Banpu Infinergy started from our shared vision to transform Phuket into a model smart city for clean energy use coupled with Banpu Infinergy’s expertise in energy innovations and its leadership in energy technology and system settings.

“The Phuket City Development Plan prioritises alternative electricity supply and green energy management, which would transform Phuket into a sustainable and livable city and a model that can contribute to the country’s energy security.”

When the rescue operations were announced, a team from Radwin said it deployed wireless broadband communications equipment. It said this enabled the coordination of rescue operations by Thai Navy Seal Special Forces and international rescuers and media coverage.

Narongsak Osatanakorn, the Chiang Rai governor, extended his thanks to Radwin for its contribution to the mission, the company said.

Ofer Nagar, Radwin’s general manager, said: “We place great value on contributing our wireless equipment and providing onsite support to help establish critical communications and assist in rescue efforts.

“We’ve done this in disaster struck areas, such as Haiti and Philippines in the aftermath of hurricanes and monsoons, and now in Thailand. We pray for the safe return of these boys and their coach to their homes.”