#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

CP Foods promises migrant workers kept safe amid new wave of Covid infections

CorporateDec 24. 2020

By The Nation

Charoen Pokphand Foods (CP Foods) announced on Thursday that it will ensure the safety of all its staff, especially migrant workers, who it says are being treated in line with international standards.

Pimonrat Reephattanavijitkul, CP Foods’ executive vice-president, said the company has been maintaining high health and safety measures in its operations since the arrival of the Covid-19 virus early this year. 

She said CP Foods has pledged to keep all its staff safe, regardless of their role or nationalities, with extra focus on migrant workers who are more vulnerable. 

For instance, she said, workers are provided with accommodation and transportation between work and home. Stringent Covid-19 prevention measures such as temperature scanning and social distancing have also been put in place. 

Besides, the company has hired translators to help migrant workers understand their rights. 

“CP Foods is a workplace of diversity and we are building mutual understanding among our employees of all nationalities equally. Our goal is to ensure they are secured from this new wave of infections,” Pimonrat said, adding that CP Foods is also providing free food to workers in Samut Sakhon, which has been placed under lockdown. 

Migrant workers can also voice their concerns and seek advice via a hotline service operated by the Labour Protection Network (LPN). The hotline service is available in Khmer, Burmese, English and Thai.

During the outbreak, LPN arranged a training programme via video conferencing to encourage workers to follow Covid-19 prevention measures as well as have a basic understanding of their rights. 

CP Foods currently has some 9,000 migrant workers in Thailand who have been recruited under a government-to-government deal. These workers are entitled to benefits and social welfare in line with Thai labour laws. 

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Dtac marks Christmas with faster internet speeds for subscribers

CorporateDec 24. 2020Sharad Mehrotra, CEO of Total Access Communication (Dtac) holds up the licence for 700MHz spectrum the company received on Christmas Eve. 

By The Nation

Total Access Communication’s subsidiary, Dtac Trinet, received the licence for its 700MHz spectrum from the National Broadcasting and Telecommunication Commission on Thursday and began rolling out high-speed wireless internet service for its customers right away.

Dtac had been preparing for this launch by expanding its network and said it will continue to do so next year.

After receiving the low-band licence on Christmas Eve, Dtac said it will start turning the spectrum on region by region for Dtac customers.

On December 24, internet speed will be boosted in and around Bangkok and select locations in the North, Northeast and South.

By mid-January, approximately 2,000 cell sites will be in operation followed by expansion nationwide.

Sharad Mehrotra, CEO of Total Access Communication PCL (Dtac), said: “Our 700MHz spectrum is critical to support Thai people’s new connectivity needs. Mobile data usage nearly doubled in 2020, and it grew even faster upcountry. Hence, we are currently expediting the deployment of 700MHz cell sites to serve our customers nationwide.”

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

PTT confident operations won’t be disrupted by Thai outbreak

CorporateDec 24. 2020

By The Nation

Oil and gas conglomerate PTT is confident it can effectively handle the latest Covid-19 outbreak in Thailand, having learnt lessons from the first wave of the pandemic, said president Auttapol Rerkpiboon.

The group had proved it could run operations as usual during the first outbreak, he added.

PTT called a meeting of its pandemic monitoring centre on Wednesday as the outbreak in Samut Sakhon last week spawned more cases across the country.

The group said it had imposed strict compliance with public health rules, as well as deploying technology to facilitate safety of staff amid the outbreak.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Kerry Express starts trading in SET from Christmas Eve

CorporateDec 23. 2020

By The Nation

Leading parcel delivery firm, Kerry Express (Thailand), is officially going public on Christmas Eve, with “KEX” as its stock ticker and initial IPO priced at Bt28 per share.

KEX is offering 300 million ordinary shares to the public as it becomes the first parcel delivery firm to be listed in the Stock Exchange of Thailand (SET).

After being oversubscribed by both institutional and retail investors, KEX has proved to be one of the most interesting IPO deals of the year. With its strong fundamentals, KEX’s business has been growing rapidly over the past three years (2017-2019), and its revenue has risen significantly from Bt6.63 billion in 2017 to Bt13.57 billion in 2018 and Bt19.78 billion in 2019. Its net profits also rose from Bt730.26 million to Bt1.19 billion and Bt1.33 billion over the same period.

With its strong, nationwide delivery network, KEX operates via 15,000 service locations, nine sorting hubs, over 1,200 distribution centres and is supported by a fleet of approximately 25,000 vehicles.

Apart from providing nationwide delivery, KEX also provides other services like cash on delivery, Rabbit LINE Pay, QR payment, same day delivery in Bangkok, metropolitan areas and certain provinces. It plans to provide same-day delivery nationwide soon.

Meanwhile, Veena Lertminitr, director of SCB Securities, and Prasert Tantayawit, managing director of Maybank Kim Eng Securities’ Investment Banking Department, agree that the offering of 300 million shares at Bt28 per share will help KEX bring in approximately Bt8.4 billion. This is thanks to about 23 times oversubscription from institutional investors and approximately 10 times oversubscription from cornerstone investors. This, they said, reflects investors’ confidence in moving forward with Kerry Express.

Both SCB Securities and Maybank Kim Eng Securities (Thailand) are joint lead underwriters for the IPO.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

East Water to work with Thai Oil under clean-fuel water resources project (nationthailand.com)

East Water to work with Thai Oil under clean-fuel water resources project

CorporateDec 23. 2020

By THE NATION

Thai Oil has signed a memorandum of understanding with Eastern Water Resources Development and Management (East Water), which will undertake water distribution and resource development programmes to support Thai Oil’s clean-fuel project in the Eastern region, chief executive officer and president Wirat Uanarumit said.

“Under this MOU, East Water will also be responsible for operating and maintaining water pumps and machinery under the project. We estimate that it could start operating by early 2022,” he said.

“This project will be a key effort in developing water resources for users in the Eastern region and will support Thai Oil’s future clean-fuel campaigns,” Wirat added.

Meanwhile, Office of National Water Resources (ONWR) secretary-general Somkiat Prajamwong said the ONWR board has agreed to a budget of Bt1.37 billion to build a 15-million-cubic-metre reservoir in Ban Nong Krathing, Chachoengsao, to support increasing water usage in the Eastern Economic Corridor (EEC).

“We expect the reservoir to be completed in 2025. It will help provide water to 10,000 rai of farmland in the rainy season and 3,000 rai during the dry season,” he said.

“It will also help maintain the ecosystem balance and push salt water away from Bang Pakong river during storm surges.”

Somkiat said the ONWR is studying the possibility to produce freshwater from sea water to solve the water shortage problem in EEC areas during the dry season.

“The project will be piloted in Chon Buri and Rayong and is expected to start next year,” he added.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Sakol plans expansion into clean energy business (nationthailand.com)

Sakol plans expansion into clean energy business

CorporateDec 23. 2020

By The Nation

Sakol Energy (SKE) has unveiled plans to acquire businesses related to the clean energy and the environment to boost its revenue and profits next year.

Jakkraphong Sumethchotimetha, the managing director of the gas station operator, said green and clean energy business trends are likely to grow for many years.

“Also, the company plans to expand its existing business while also seeking new opportunities, pending approval from the Securities and Exchange Commission.” Meanwhile the rapidly changing situation meant risk assessment was necessary for some SKE projects.

“The company still has sufficient funds for investment and we will consider issuing warrants based on the company’s and shareholders’ benefits,” he said

SKE would also produce and sell compressed biomethane gas (CBG) to industries in Bangkok and its vicinity rather than in other provinces where demand had dropped.

Jakkraphong expects SKE revenue and profit to increase next year, forecasting performance in the fourth quarter this year would not improve from the third quarter due to a decline in demand for CBG and Natural Gas Vehicle (NGV) fuel amid the economic slowdown and falling oil prices.

“Also, we have maintained our target to boost electricity production capacity to 30 megawatts by 2022.”

He said long-term contracts with strong partners meant company operations would not be disrupted next year, while expressing confidence the government would be able to contain the spread of Covid-19.

“However, the company will make efforts to diversify risks based on the Covid-19 crisis and economic situation in order to seek opportunities for investment in other types of energy in the future,” he added.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

PTTEP, partner awarded UAE’s largest offshore exploration block (nationthailand.com)

PTTEP, partner awarded UAE’s largest offshore exploration block

CorporateDec 21. 2020

By The Nation

PTT Exploration and Production (PTTEP) and strategic partner Eni have been awarded the concession for the largest exploration block offered by the United Arab Emirates (UAE).

The investment in Offshore Block 3 provides PTTEP with more opportunity to strengthen its investment portfolio in the Middle East, said the Thai company.

Its subsidiary, PTTEP MENA Ltd, and Eni Abu Dhabi BV (Eni), a subsidiary of Italy-based oil and gas company Eni, won 2019 bidding for the concession from the state-owned Abu Dhabi National Oil Company (ADNOC).

The exploration phase of the agreement has a maximum period of nine years and, subject to successful exploration, an overall concession term will extend to 35 years from the commencement of the exploration phase for development and production phases in which ADNOC has the option to hold a 60 per cent stake.

Offshore Block 3 lies next to two other blocks for which PTTEP and Eni won the licensing bidding round in 2019.

“This concession award offers another great opportunity for PTTEP to strengthen collaboration with world class strategic partners Eni and ADNOC,” said PTTEP CEO Phongsthorn Thavisin.

“The consortium will bring capabilities, experience and technology to accelerate the development of Offshore Block 3, as well as Offshore Blocks 1 and 2, and lead to a successful discovery.”

Offshore Block 3 covers 11,660 square kilometres and is the largest offshore exploration block opened for concession in UAE. PTTEP said new 3D seismic data acquired for a part of the block suggests promising potential. PTTEP MENA and Eni, the operator of the block, will hold stakes of 30 per cent and 70 per cent respectively.

Offshore Blocks 1 and 2 are now under subsurface study, with exploration drilling planned in 2021.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Why CP group got the nod for takeover of Tesco (nationthailand.com)

Why CP group got the nod for takeover of Tesco

CorporateDec 19. 2020

By THE NATION

The Office of Trade Competition Commission (OTCC) on Friday published a report on its decision regarding Charoen Pokphand’s (CP) acquisition of Tesco’s Thailand business from Ek-Chai Distribution System.

The OTCC on November 6 voted 4:3 in favour of the US$10-billion (Bt302.5 billion) takeover deal.

According to the report, the majority of the commissioners who voted for the acquisition argued that the acquisition was necessary for business operation and would help create revenue for the country’s economy. It would also help preserve the sales channels of domestic products as well as expand exports to Malaysia, as CP would also acquire Tesco Lotus in Malaysia under this deal.

“The deal would subsequently increase domestic sales and exports, create more employment and promote both retail and manufacturing industries,” said the commissioners.

The majority of the commissioners also said that the deal would not create serious negative impact on the economy, as it would not create unemployment in other related sectors, such as wholesale, which is responsible for 50 per cent of the country’s GDP.

“The deal would instead create up to 1.1 million jobs in the small, medium and large industrial supply chain while keeping the manufacturing sector uninterrupted,” they added.

“It will not add to the impact of Covid-19 that has resulted in recession in the macro economy and caused uncertainty among future investors, both domestic and overseas.”

Meanwhile, a minority of commissioners who voted against the acquisition argued that the acquisition could affect Thailand’s economy as it could lead to monopoly, unfair market dominance and socio-economic disparity, as CP is already the largest manufacturer of agricultural and consumer products that are vital to daily life, while the acquired party holds a large market share in wholesale and retail modern trade.

“The acquisition could also result in an obstacle for new entrepreneurs to enter the market, while other businesses would need to adjust their strategies and lower their costs and selling price to remain in the market,” said the minority of commissioners.

“As the biggest player in the market, CP will have more bargaining power against suppliers of products and raw materials, while SME manufacturers will be at a disadvantage when negotiating trade terms with suppliers.

“Furthermore, the acquisition will result in fewer number of competitors, and in the long term consumers will have limited choices of products and prices,” they added.

The OTCC also set terms and conditions that the acquisition parties: CP Retail Development Ltd and Tesco Stores (Thailand) Ltd, as well as their parent companies: CP All and Ek-Chai Distribution System, must follow:

1. The acquisition parties must not acquire other businesses in a similar sector for three years, excluding those in e-commerce.

2. CP All and Ek-Chai must increase the sales of SME products, including agricultural products, community products and OTOP in 7-Eleven and Tesco Lotus stores by at least 10 per cent annually for a period of five years.

3. The acquisition parties must not share related marketing information to product distributors, manufacturers or suppliers of raw materials. The information shall be classified as a trade secret.

4. Ek-Chai will abide by conditions stated in the contract or agreement that they have made with product distributors or manufacturers for a period of two years, unless product distributors or manufacturers agree to change the terms of the contract or agreement.

5. CP All and Ek-Chai must promote SMEs by providing credit terms of 30 days for agricultural products, community products and OTOP, and 45 days for other types of products for a period of five years.

6. CP All and Ek-Chai must submit their business operations report to the OTCC every three month for a period of three years.

7. Acquisition parties must set the business code of conduct to be displayed to the public, while they shall uphold the code of conduct as well as abide by regulations stated in the Trade Competition Act BE 2560.

Related Story: OTCC sets new criteria for businesses to be considered monopolies

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SCG Packaging acqiires listed Vietnamese company (nationthailand.com)

SCG Packaging acqiires listed Vietnamese company

CorporateDec 18. 2020

By The Nation

SCG Packaging Pcl (SCGP) has finalised its acquisition of Bien Hoa Packaging Joint Stock Co (SOVI), a listed company in Vietnam that specialises in corrugated box and offset laminated packaging

SCGP informed the Stock Exchange of Thailand (SET) on Friday that it has acquired 12,076,587 shares, or a 94.11 per cent stake, in SOVI from the existing shareholders at the price of 171,450 dong per share, which is equivalent to the total payment of 2.07 trillion dong, or approximately Bt2.70 billion.

“This purchase is through TCG Solutions Pte Ltd, which is a wholly owned subsidiary of Thai Containers Group Co Ltd (TCG), a 70:30 joint venture between SCGP and Rengo Co Ltd, Japan,” SCGP chief executive officer Wichan Jitpukdee said.

“The balance sheet consolidation of SOVI will be as at the end of 2020, while the financial performance will be consolidated from January 2021.”

SOVI is a leading fibre- based packaging company whose clients are mainly well-known consumer brands.

“With three manufacturing facilities near Ho Chi Minh City, in southern Vietnam, this acquisition will enlarge SCGP’s customer base particularly in food, beverage and FMCG segments and reinforce internal integration with its packaging paper manufacturing,” Wichan added.

Over the last 12 months, SOVI recorded revenue of 1.61 trillion dong (Bt2.1 billion), net profit after tax of 156 billion dong (Bt200 million) and had assets of 1.05 trillion dong (Bt1.38 billion) at the end of the third quarter.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Prima Marine expands its fleet of ships to prepare for growth (nationthailand.com)

Prima Marine expands its fleet of ships to prepare for growth

CorporateDec 18. 2020Chief financial officer Viritphol Churaisin 

By The Nation

Prima Marine will add two large and three small vessels into its fleet of 40 vessels next year, chief financial officer Viritphol Churaisin said.

The company has set its growth target for 2021 at between 10 and 15 per cent. It expects its revenue for 2020 to stand at between 12 and 15 per cent.

Prima Marine posted a net profit of Bt456.3 million in the third quarter, up by 58.1 per cent year on year. Its net profit in the first nine months of the year was Bt1.24 billion, up by 49.2 per cent year on year.