The offer will run until December 31, 2018.

 – Chinese clampdown –

In mid-September, China’s central bank, the People’s Bank of China (PBOC), told virtual currency trading platforms based in Beijing and Shanghai to cease market operations.

Authorities also clamped down on ethereum and any other electronic units that are exchanged online without being regulated by any country.

The PBOC said it wanted to fight “speculation” around the crypto-currencies, which “seriously disrupted the financial system”.

This came after the National Internet Finance Association of China — an offshoot of the PBOC — drew up a damning report on virtual currencies, saying they were “increasingly used as a tool in criminal activities” such as drug trafficking.

Experts say Chinese authorities are also concerned about possible capital flight which could harm the value of the yuan.

However, the authorities in Beijing have not yet attacked bitcoin mining — the creation of the digital currency.

Between 60 and 70 percent of new bitcoins are created in China.

A technology trader advertises high speed computers that can be used for Bitcoin, BitConnect, ZCash, Ethereum and Ethereum Classic ‘mining’ at the Golden Computer Centre, Sham Shui Po, Kowloon, Hong Kong, China, 04 January 2018. // EPA-EFE PHOTO

– Korean concern –

Hyper-wired South Korea was also a hotbed for virtual currencies such as bitcoin, accounting for some 20 percent of global transactions, about 10 times its share of the world economy.

But South Korean authorities late last year banned financial institutions from dealing in virtual currencies on fears of a bubble fuelled by retail speculators.

About one million South Koreans, many of them small-time investors, are estimated to own bitcoins and demand is so high that prices are around 20 percent higher than in the US.

Initial coin offerings (ICOs) — where companies sell newly mined cryptocurrencies to investors for real money — were also outlawed.

The government has also pledged to strengthen investor protection rules, in an effort to curb speculation and potential fraud.

Announcing the ban on ICOs in September, South Korea’s Financial Services Commission declared “cryptocurrencies are neither money nor currency nor financial products”.

Youbit, a South Korean exchange trading bitcoin and other virtual currencies, declared itself bankrupt in December after being hacked for the second time this year.

North Korea was accused of being behind the first attack.

– Singapore caution –

Singapore’s central bank has issued a warning over cryptocurrencies, cautioning the public about the risk of jumping in on the “bitcoin bubble”.

The Monetary Authority of Singapore noted they are not backed by any central bank and are unregulated, which means those who lose their investments have no grounds for redress under Singapore law.

Yusho Liu, co-founder of Singapore-based cryptocurrency wallet Coinhako, says demand has been soaring, with transactions up around 10-fold over the past year.

However, while regulators have been prepared to offer a cautious free rein to the digital units, “financial institutions and service providers have been rather resistant”, Liu told AFP.

“In fact, I believe that only 30-40 percent of the market potential is fulfilled because of the friction generated by such matters. This is the key missing piece of Singapore being the fintech hub,” said Liu.

– Japanese jump in –

The high-profile collapse of digital currency exchange platform MtGox failed to douse the enthusiasm for virtual currencies in Japan, which in April became the first country in the world to proclaim it as legal tender.

As many as 10,000 businesses in Japan are thought to accept bitcoin and bitFlyer, the country’s main bitcoin exchange, saw its user base pass the one-million mark in November.

Many Japanese, especially younger investors, have been seduced by the idea of strong profits in the context of ultra-low interest rates that offer little in the way of returns.

However, the governor of the Bank of Japan, Haruhiko Kuroda, has recently issued a warning that the recent rise of the bitcoin price was “abnormal”.

Pornchai Theeravej, finance and economics adviser to the Fiscal Policy Office, said people should be aware of the dangers of investing in digital currencies as some schemes promised unreasonably high returns similar to Ponzi schemes. He also warned that people who deceive others could be charged with fraud.

The value of digital currencies had been highly volatile, he said, apparently referring to the fluctuating value of bitcoin on the global market.

Thailand and other countries had not yet legalised digital currencies as a means of financial payments, he added. The Finance Ministry, Bank of Thailand, Securities and Exchange Commission and Anti-Money Laundering Office were working together to find effective measures for dealing with digital currencies, he said.

Other popular cryptocurrencies besides bitcoin include Ethereum and Litecoin, both of which use blockchain technology in their underlying software.

Founded by Thanpuying Chanut Piyaoui, the Dusit Thani Bangkok was the city’s tallest edifice and largest hotel when it opened on February 27, 1970.

It pioneered five-star hospitality inspired by authentic Thai values and ushered in a new era of tourism for the city, revolutionising dining, entertainment and even the way people organised wedding receptions in the process.

With its new hotel, Dusit International plans to mirror that success by creating a new city landmark that boosts the area’s appeal, enhances existing infrastructure, creates new opportunities for local businesses, celebrates Thai culture, and elevates the brand’s standing internationally.

“Since we officially announced the hotel’s redevelopment earlier last year, we have been inundated with messages from guests, customers and long-time fans of the hotel expressing their opinions about the project,” said group chief executive Suphajee Suthumpun.

“While the majority expressed excitement about our next chapter, there were also those who wondered how we could possibly embrace our heritage and continue our legacy in a new building.

“The answer, of course, lies in taking our time to ensure we get it right. We are exploring many ways to add value to the new hotel and mixed-use project in terms of design and innovation. This includes embracing a green concept that reflects our prime location opposite Lumpini Park, creating direct links to both the MRT and BTS mass-transit rail systems, and alleviating traffic in the area by providing new infrastructure.”

Hotel and property developer Dusit International says its flagship Dusit Thani Bangkok will remain open until January 5, 2019, rather than April 16 this year as planned.

It said the closing date has been extended to allow more time to add value to the replacement hotel, which will be part of a Bt36.7-billion mixed-use project being built in partnership with Central Pattana.

Founded by Thanpuying Chanut Piyaoui, the Dusit Thani Bangkok was the city’s tallest edifice and largest hotel when it opened on February 27, 1970.

It pioneered five-star hospitality inspired by authentic Thai values and ushered in a new era of tourism for the city, revolutionising dining, entertainment and even the way people organised wedding receptions in the process.

With its new hotel, Dusit International plans to mirror that success by creating a new city landmark that boosts the area’s appeal, enhances existing infrastructure, creates new opportunities for local businesses, celebrates Thai culture, and elevates the brand’s standing internationally.

“Since we officially announced the hotel’s redevelopment earlier last year, we have been inundated with messages from guests, customers and long-time fans of the hotel expressing their opinions about the project,” said group chief executive Suphajee Suthumpun.

“While the majority expressed excitement about our next chapter, there were also those who wondered how we could possibly embrace our heritage and continue our legacy in a new building.

“The answer, of course, lies in taking our time to ensure we get it right. We are exploring many ways to add value to the new hotel and mixed-use project in terms of design and innovation. This includes embracing a green concept that reflects our prime location opposite Lumpini Park, creating direct links to both the MRT and BTS mass-transit rail systems, and alleviating traffic in the area by providing new infrastructure.”

The Grade A office building has been designed as a mixed-use commercial complex at the shopping centre on Bangkok’s Sukhumvit Road with high growth potential in terms of rental rates.

Attakorn Netneramitdee, managing director of Bhiraj REIT Management, said Bhiraj Office REIT would invest in long-term leasehold rights in the tower covering 94,853 square metres of office, parking and utility space.

The leasehold period is 26 years and nine months, from January 1 to September 30, 2044.

The tower is among high-quality projects developed by Bhiraj Tower Buri Group. Directly connected to the BTS Skytrain’s Phrompong station, it has attracted many tenants since its launch in March 2015. The occupancy rate as of September 30 was 98.7 per cent of total office rental space, approximately 49,700 square metres.

Bhiraj Office REIT will offer trust units through Tisco Securities and all branches of Kasikornbank at Bt10 per unit with a minimum purchase of 2,000 units.

She has been with the company for more than 12 years, most recently as corporate service director.

She was part of the team charged with expanding business and achieving good financial performance. She played an instrumental role in adding more branches, from 75 when she first joined to 321 currently.

Nednapa, the first Thai woman in this position, will seek to elevate the “Starbucks experience” by “ensuring quality coffee, providing different formats for the branches and solidifying its partners’ coffee knowledge”.

Nednapa holds bachelor and master’s degrees in commerce and accountancy from Thammasat University. Her favourite Starbucks drink is a Caramel Macchiato with non-fat milk.

She spends her free time collecting stamps, listening to music and enjoying family activities.

This marks the first time that Jolywood will partner with a Thai distributor as part of its push to enter the Southeast Asian market.

IMI Group has 30 years of expertise in heavy process control for power generation and the oil and gas industries, and also operates as an engineering procurement construction (EPC) company for floating, ground- and rooftop-based solar power stations.

The panels that Jolywood will supply are known for being highly efficient and will be used in local solar projects, the companies said.

Liu Yong, vice president of Jolywood, said: “Southeast Asia has a maturing solar market with the potential to grow significantly in the next 10 years. IMI Group has extensive experience working with top-tier clients and has the capability to effectively advance our value-added technologies.

“Holding hands together, we look forward to building a greener lifestyle for customers throughout the region.”

Sudhee Raksantiphab, IMI Group founder and managing director, said: “We see the Jolywood product line, and their strategy of producing only top-of-the-line solar power equipment, as being an excellent fit with IMI’s vision to provide our customers with solar power facilities featuring the best levelised cost of electricity on the market.”

Jolywood and IMI Group are targeting a total sales goal of 100 megawatts (MW) of modules for the Thai market, and 200 MW for the broader Southeast Asian region.