The listed company will also acquire the remaining 30 per cent gradually over a three-year period for around Bt800 million.

The combined project value is expected to range between Bt2 billion and Bt2.3 billion, depending on business performance, and the internal rate of return is expected to reach 11.7 per cent, Prima Marine said.

The company’s capacity to perform maritime crude oil transportation will be enhanced, and with new customers from Big Sea its market share will jump to 49 per cent, said chief executive Acting Sub-Lieutenant Chanwit Anakkul.

The acquisition will strengthen Prima Marine’s business in the long run and allow the company to benefit from the growing domestic oil transportation industry, he added.

Chanwit said the acquisition of Big Sea shares would double Prima Marine’s capacity in the transport vessel segment, enable the company to become the top provider of domestic maritime oil transportation service and increase its capacity to manage an additional 5 billion litres of products per year, and to better respond to customers’ requirements.

For example, its market shares will leap from 15 per cent to 43 per cent for Chevron, from 19 per cent to 64 per cent for Shell, from 19 per cent to 52 per cent for IRPC, and from 67 per cent to 69 per cent for PTT, he explained.

It will also win a market share of 37 per cent, in terms of volume of oil transported by vessels, for Bangchak as a new customer.

Big Sea is a domestic maritime petroleum transportation service company with the second-highest market share.

It owns a small fleet of 13 transport vessels with an average life of 17.3 years and an average storage capacity of 2.7 million litres each, and roughly 35,000 deadweight tonnage (around 35 million litres) in total.

Big Sea is also building a new vessel with a storage capacity of 5.3 million litres.

“Centara is entering a significant phase of growth in which it will double its revenues over the next five years. Brand and PR communications will go hand in hand to reinforce our position as a prominent hospitality name both within Thailand and internationally” said Centara’s CEO, Thirayuth Chirathivat.

“Yupapone is a proven leader with extensive communication skills, branding vision and great understanding of the digital media landscape. Her expertise will help us drive increased brand awareness and raise the profile of Centara Hotels & Resorts globally. We are excited about her important contribution to the company.” added Chirativat.

Prior to joining Centara, Yupapone held a management role at Hill and Knowlton Strategies where she spearheaded communication strategies for multinational corporates such as Microsoft, Nestlé, L’Oréal and Grab, to name a few.

She also led the successful rebranding project of Ngern Tid Lor, a subsidiary of Bank of Ayudhya. Her previous experience includes positions with DTAC, the British Council and Bangkok Bank. She is currently an active member of the Industry Advisory Board at Stamford International University in Bangkok.

Yupapone was the only Thai student awarded Rotary International’s Ambassadorial Scholarship in 2009 to complete her Master’s degree in International Studies at the University of South Carolina in the USA. She graduated with honours from Chulalongkorn University.

“Centara is one of the most trusted brands in the hotel industry and a Thai icon. I feel privileged to have been charged with such an important role in the company’s development. In this era of digital disruption, communications and PR have vastly changed. Communicating purpose, emphasising the mission through creative storytelling and the use of both traditional and new media will be at heart of the brand strategy. I am thrilled to bring fresh energy and expertise to the organization, to help Centara increase international brand awareness and to remain at the forefront of the industry,” Yupapone said.

The move helps drive Thailand towards a cashless society.

Presiding over Monday’s launch of the service were Yingluk Kongkasai, deputy head of Krungsri’s Transaction Banking Group, and Kitipong Kittipassorn, TWZ vice president, Marketing & Business Development Department.

The system encourages managers to coach employees on their strengths and supports the company’s digital transformation to a more project-based way of work.

The system aims to produce higher engagement and self-motivation among employees.

Strengths-based development represents a radical departure from traditional annual reviews, which rate employees based on key performance indicators (KPIs).

This remain the most commonly used performance-management system among Thailand’s large corporations, said Chief People Group Officer Nardrerdee Arj-harnwongse.

“Dtac’s new strengths-based development is much better suited to an agile, digital and cross-functional workplace.

“Strengths-based development allows us to focus on how each employee can add more value to the company. It’s forward-looking and it’s positive. We’re looking for what’s right, not what’s wrong, in our employees,” said Nardrerdee. “The feedback has been really good. It makes the conversation between managers and employees easier and more constructive.”

Strengths-based development focuses on individual employees rather than ranking them against one another, promotes ongoing feedback and coaching that can be provided quickly, provides a 360-degree view, not just the opinion of one manager, and focuses on growing in the future, rather than dwelling on how employees behaved in the past.

PTT Plc shareholders voted at their annual general meeting on April 28, 2017, to approve restructuring in relation to the transfer of the oil business unit to PTTOR.

They also acknowledged the possibility of an initial public offering of ordinary shares of PTTOR and its listing on the SET in the future.

On April 12 this year, the shareholders acknowledged a progress report on the restructuring.

PTT has supported the business transfer in accordance with procedures, laws, regulations, notifications and rules and taken into consideration comments from authorities and stakeholders so that the restructuring is transparent and thorough and generates benefits for stakeholders.

The deal was struck at WingsMedia’s “Integration – Innovation New Content and IP Cooperation Release & Open Partnership Conference” in Shanghai on June 11.

Jwanwat Ahriyavraromp, founder and CEO of Shellhut Entertainment Co Ltd, owner of the famous Thai animated series “Shelldon”, is a major stakeholder in T&B.

The two companies announced plans to produce four projects together.

There will be three feature films – the live-action romantic comedy “Start It Up”, the animated feature “Silk Road” in partnership with The Monk Studios, and “Arthur and the 7 Chicks”, an animated feature being produced by RiFF Studio.

The two studios are among the leading animation firms in Thailand and have worked on numerous international projects.

The fourth project will be an adventure TV series entitled “The Snapventure”, Dr Jwanwat Ahriyavraromp said.

Those reflections seven years ago prompted him to embark on his own business, which has since grown to encompass animal feed production, a restaurant and eco-tourism operations that pull in sales of up to Bt250 million a year.

“I asked myself, when I retire how much money will my wife and I need for expenses each month? The answer to my question was Bt1 million,” Prasert said in an interview with The Nation recently.

“That meant that if I remained an employee in the company that I worked for that I could not earn enough to have the means for spending of Bt1 million a month after retirement.

“As a result, I decided to resign from my job in 2011 and start to look into business opportunities that I could do in my home patch of Khon Kaen province,” Prasert said.

A year after his resignation, Prasert, who graduated with a bachelor’s degree in engineering from Chulalongkorn University, spent some time travelling in several provinces on the lookout for business ideas.

Upon returning to Khon Kaen, he decided to further expand the family business that his father started. The business was engaged in producing tapioca for animal feed, with distribution of the raw material to animal feed plants.

“I decided to set up my own animal feed plant by establishing Choke Prasert Feed Co Ltd with registered capital of Bt1 million in 2012 by myself,” he said. “I was able to use my father’s land as a guarantee for a loan of Bt20 million from the bank, enabling me to build the animal feed plant on my father’s land, which covers 43 rai.

The animal feed plant subsequently proved a success, with sales in the domestic and overseas markets, such as Laos and Cambodia, coming in at an average of Bt230 million a year.

Encouraged by this success, Prasert, now 45, established One More Dairy Co Ltd, with registered capital of Bt1 million in 2015. The business is engaged in raising dairy cows and produces ice-cream from the milk they produce. The operation forms part of a business plan to serve the eco-tourism market under concept “Feed-Food-Farm”.

After getting the dairy operation up and running Prasert last year established another company, Aura Organic Co Ltd, with registered capital of Bt1 million. The venture backed his vision for a tourist destination that caters to visitors who want to see how a dairy farm is run, while enjoying organic food and an eco-lifestyle.

Prasert opened the eco-farm, called Aura Farm, in April and it is now draws an average of 5,000 visitors a month.

From the three business units, Prasert said the company expects to generate revenue at an average of Bt250 million a year, with up to 95 per cent of the total coming from the feed business.

“With my experience of seven years as an entrepreneur, I have learnt how to carry out a business and succeeded in changing my lifestyle from that of a white-collar worker to a business owner. The challenge for me is to keep the business performing well in order to achieve our goals.”

Those reflections seven years ago prompted him to embark on his own business, which has since grown to encompass animal feed production, a restaurant and eco-tourism operations that pull in sales of up to Bt250 million a year.

“I asked myself, when I retire how much money will my wife and I need for expenses each month? The answer to my question was Bt1 million,” Prasert said in an interview with The Nation recently.

“That meant that if I remained an employee in the company that I worked for that I could not earn enough to have the means for spending of Bt1 million a month after retirement.

“As a result, I decided to resign from my job in 2011 and start to look into business opportunities that I could do in my home patch of Khon Kaen province,” Prasert said.

A year after his resignation, Prasert, who graduated with a bachelor’s degree in engineering from Chulalongkorn University, spent some time travelling in several provinces on the lookout for business ideas.

Upon returning to Khon Kaen, he decided to further expand the family business that his father started. The business was engaged in producing tapioca for animal feed, with distribution of the raw material to animal feed plants.

“I decided to set up my own animal feed plant by establishing Choke Prasert Feed Co Ltd with registered capital of Bt1 million in 2012 by myself,” he said. “I was able to use my father’s land as a guarantee for a loan of Bt20 million from the bank, enabling me to build the animal feed plant on my father’s land, which covers 43 rai.

The animal feed plant subsequently proved a success, with sales in the domestic and overseas markets, such as Laos and Cambodia, coming in at an average of Bt230 million a year.

Encouraged by this success, Prasert, now 45, established One More Dairy Co Ltd, with registered capital of Bt1 million in 2015. The business is engaged in raising dairy cows and produces ice-cream from the milk they produce. The operation forms part of a business plan to serve the eco-tourism market under concept “Feed-Food-Farm”.

After getting the dairy operation up and running Prasert last year established another company, Aura Organic Co Ltd, with registered capital of Bt1 million. The venture backed his vision for a tourist destination that caters to visitors who want to see how a dairy farm is run, while enjoying organic food and an eco-lifestyle.

Prasert opened the eco-farm, called Aura Farm, in April and it is now draws an average of 5,000 visitors a month.

From the three business units, Prasert said the company expects to generate revenue at an average of Bt250 million a year, with up to 95 per cent of the total coming from the feed business.

“With my experience of seven years as an entrepreneur, I have learnt how to carry out a business and succeeded in changing my lifestyle from that of a white-collar worker to a business owner. The challenge for me is to keep the business performing well in order to achieve our goals.”

The expansion would see 40 stores added to its retail network in Thailand and abroad over the period.

The company will invest at least Bt100 million to open four to five new stores every year over the five years, said Pramote Dechaboonsiripanich, managing director of Puri Co Ltd, adding that the investment would be varied depending on the types of Panpuri stores. This would take into account the store size, whether it is to be a signature store or a smaller outlet that sells only beauty products, Pramote said.

Puri Co Ltd operates 40 Panpuri stores in the Kingdom in six cities: Bangkok, Chiang Mai, Pattaya, Phuket, Surat Thani and Krabi. The company also distributes its beauty and wellness products to 20 markets around the world.

“The health and beauty market tends to leapfrog, reflecting a global market value of more than Bt900 billion, of which over Bt500 billion is in Asean and Bt250 billion in Thailand, according to a 2017 report made by the University of the Thai Chamber of Commerce’s Economic and Business Forecasting Centre,” Pramote said.

“The market enjoys annual growth of between 15 per cent and 20 per cent. The Thai government’s strategy to turn Thailand into the world’s health centre in four areas – wellness hub, medical hub, academic hub and product hub – is also a key catalyst for a marked increase in the market’s potential.”

Pramote said that of the additional stores to be opened in the next five years, about 20 of them will be in Thailand and the rest overseas.

“We have seen demand for beauty and wellness products from high-income earners in key Asian markets like South Korea, Hong Kong, Taiwan, Singapore and China,” he said.

He said that about Bt120 million of the investment budget would be allocated to store expansion this year, of which Bt100 million has been invested in the 2,000-square metre Panpuri Wellness, a one-stop centre for rejuvenation and wellness services on the 12th floor of Gaysorn Tower in the Ratchaprasong district of Bangkok. It will be officially opened in August. Some four to five new stores will be opened this year and will cost about Bt20 million altogether.

Vorravit Siripark, chief executive officer of Puri Co Ltd, said the company achieved Bt500 million in total sales last year, with 80 per cent coming from its business in Thailand. The company expects its sales to increase by 30 per cent this year. “We aim to increase our annual revenue to Bt1.5 billion in the next five years,” said Vorravit, who founded Panpuri in 2003.