FTI suspects speculation behind baht appreciation, urges close scrutiny by government
WEDNESDAY, FEBRUARY 15, 2023
Nongluck Ajanapanya
The Federation of Thai Industries (FTI) has urged the government and relevant agencies to closely monitor the baht amid concerns of foreign money entering the country and being used for speculation and inflating the value of the baht.
FTI vice chairman Suchart Chantaranakaracha issued the warning on Wednesday during the release of the Industry Sentiment Index report for January.
He said the baht had depreciated to its lowest point in October 2022 when it fell to 38.80 to the US dollar before gradually appreciating in January to 32 to 33 baht to the dollar without any significant drivers of growth.
He said there had been no indications of a positive outlook for Thailand’s economy over the previous four months.
He pointed out that tourism is yet to make a full recovery, as China has only recently opened its border. The US Federal Reserve is still raising interest rates while the country’s inflation rate is still high and electricity prices are rising.
Suchart said the baht’s steady appreciation against the dollar despite moderate growth forecasts for the country is a matter of concern, as it could indicate foreign capital is entering the country to speculate on the Thai currency.
He proposed holding the value of the baht at around 34 baht, a rate suitable for both importers and exporters, to ensure competitiveness.
Suchart Chantaranakaracha (left)
The appreciation of the baht is a major concern for Thai manufacturers in both the import and export sectors over the next three months, despite the fact that their confidence in Thailand’s economy has reached its highest level in 43 months, at 93.9 points.
Geopolitical tensions, a slowdown in the United States and Europe, the possibility of an interest rate hike and volatile oil prices could all harm Thailand’s industry sector, according to the survey.
However, the return of Chinese tourists after the country ended all Covid restrictions, would help Thailand’s tourism grow exponentially, also increasing domestic consumption demand.
The survey urged the government to adopt a positive attitude in order to strengthen Thailand’s competitiveness by lowering costs, particularly electricity prices.
Meanwhile, the FTI said it supports the government’s bid to forge bilateral free trade agreements with potential markets, such as Europe and the Middle East.
‘Bangkok Bastards’ and the story of Thailand’s sustainable architecture
TUESDAY, FEBRUARY 14, 2023
Jarupong Krisanaraj
Along with business operations, the bio-circular-green (BCG) economic model can also be applied to architecture seamlessly, said Chatpong Chuenrudeemol, director of the architecture studio CHAT Architects.
He unveiled a vision for architecture under the BCG economy model in his study “Bangkok Bastards”.
“Many people see construction worker shacks as an eyesore, like slums, but I find beauty and creativity in them,” he said, adding that he has studied their simple architecture closely.
Even though the temperature inside construction-worker housing is hot, workers can live comfortably thanks to scaffolded verandas where they can drink alcohol and dry clothes, he said.
The scaffolding structure protects workers from rain and sun and can be adjusted to overcome various challenges of living.
“Hence, this structure is used for construction workers’ houses nationwide.”
These houses have taught him to look at various kinds of everyday architecture, said Chatpong, adding that their design could be applied to the BCG economy model.
“Bangkok Bastards” kicked off 10 years ago, inspired by locals’ wisdom and creativity in finding homegrown architectural solutions to everyday issues. Chatpong is now expanding his research to more buildings, including hotels.
He cited the beauty and modernity of Hotel Picnic on Bangkok’s Soi Rang Nam. It features a brise soleil that deflects sunlight, a mysterious tunnel to the motel, private parking lots and a secret exit passage. Many of its rooms have no windows, to protect customers’ privacy.
“Even though the architect who designed this motel may not be well known internationally, I am ready to accept him/her if the architecture looks creative,” he said.
He added that Picnic Hotel had been renovated with a neoclassic design.
Chatpong mentioned that its owner, “Tony”, had also recruited him to design the nearby Samsen Street Hotel.
He explained that Tony had worked as a drinks vendor, cabbie and owner of tailor shop in Samsen before becoming a hotel operator.
Designing the hotel was challenging as the rooms are small. Tony had a tight investment budget for each room, which had to fit three people to generate more revenue, he added.
He invented a bed box to suit guests who visit Thailand with their families.
“The bed box did not increase the building’s weight much,” he said.
The bed box can also serve as a balcony, which aids engineers in fixing air condensers and also helps brings the Samsen community to life.
We created a new business model by allowing guests to interact with street food vendors near the hotel, he said, adding that this benefits both the hotel and the vendors.
The bed-box balconies can also serve as stages for local community concerts.
Samsen Street Hotel features a reception inspired by security bars, a tunnel similar to the demolished hotel on Bangkok’s Soi Rang Nam, and a courtyard with outdoor screen and pool lounge.
Guests can sit on the balconies and watch movies in the courtyard.
“Visitors may feel charmed by this courtyard, he said, adding that the hotel receives both Thai and foreign guests.
It has also won many awards and attracted visits from well-known architects from around the world.
Among Chatpong’s other designs is a three-storey guesthouse inspired by a loom, in Sakon Nakhon province.
Situated in a rice field, the building hosts local craftspeople including weavers, who teach the guests local wisdom and traditions.
The “Bastard” architecture model is difficult to understand as it uses many elements, including floors, roofs, plastic chairs and foldable desks, to create space in inexpensive ways that demonstrate the imagination of Thai people, Chatpong said.
“Isaan BCG Expo 2022 was a collaboration between the Khon Kaen Innovation Centre, Mitr Phol Group, and 50 alliance networks from the public and private sectors. The expo is yet another effort to transform Thailand’s least economically developed region into a hub for bringing Thai economics to Asean through the BCG model.”
How Banpu is taking NEXT step for Thailand’s BCG sustainable economy
MONDAY, FEBRUARY 13, 2023
Jarupong Krisanaraj
Clean energy, biodiversity and bioenergy are now big trends among countries worldwide, said Sinon Vongkusolkit, chief executive officer of clean energy solution provider Banpu NEXT.
He said that signatories to the United Nations Framework Convention on Climate Change (COP) are expressing concerns about clean energy. He added that the Russia-Ukraine war had increased COP participants’ focus on energy security and sustainability.
“Many countries forecast green energy is future energy,” he said.
He also praised the Thai government’s bio-circular-green (BCG) economic model for driving Thailand toward energy sustainability via innovation, science and technology.
He also pointed out that different sectors have to work together to promote energy sustainability in Thailand. He added that Banpu NEXT was honoured to help on this issue.
Sinon explained that Banpu NEXT is among Banpu group flagship companies focusing on clean energy.
“We look at ourselves as an integrated energy provider,” he said, adding that the company is operating a green energy business in five countries as well as Thailand, namely Japan China, Vietnam, Australia and Indonesia.
He said Banpu NEXT encompasses many renewable energy trends, such as wind and solar farms, adding that the company already has 1-gigawatt electricity production capacity from renewable energy.
“The renewable energy sector is expected to grow exponentially,” he said, adding that the sector is forecast to expand by 3-4 times by 2025.
Banpu NEXT is selling electricity from renewable energy to both the government and retailers. The company expects to sell clean electricity to more retailers in the future.
The company is also playing an important role in helping factories and schools manage their buildings to achieve their net-zero greenhouse gas emission goals, with solar roofs and batteries.
“We have a battery factory in China with a production capacity of 1 gigawatt,” said Sinon, adding that the company’s batteries are sold in Europe and China.
He said Banpu NEXT would sell batteries in Thailand next year in a bid to create an electric vehicle (EV) ecosystem in the country.
The company also has a battery farm that stores electricity before selling it to countries in a bid to help with peak shaving.
Banpu Next kicked off its EV business two years ago, starting with car sharing that allows businesses to rent EVs.
“The company also offers EV charging and related services,” he said.
The issues of smart cities and energy management are trending across the globe, Sinon said. In this regard, the company is boosting cooling efficiency in buildings, as well as providing a platform for building management.
“We are trying to become a total solution provider for our customers,” he said.
Banpu Next is cooperating with several partners, including China’s Durapower Group on batteries, Vietnam’s Solar Esco on solar roofs, and Beyond Green on EV car services.
The company recently invested in artificial intelligence (AI) and smart analytics which will help build management capacity.
On future trends, Sinon said the digital platform will play an important role in business operations.
He said business operations will become smarter via several solutions, including data analytics and EV services. These solutions will also help smart city development.
“For instance, e-mobility sharing, ride sharing, charger management and feed management are part of our e-mobility services available for customers,” he said, adding that these services are linked to Banpu NEXT’s application.
He said the company had provided a 1.4-megawatt solar rooftop and EVs to create a smart ecosystem at Rugby International School in Pattaya. It also sparked awareness of waste management among students there.
“All of these will help reduce carbon emissions, food waste and electricity bills,” he said.
He added that Banpu NEXT was proud of its role in helping drive Thailand toward sustainability and building business sentiment among customers.
“Isaan BCG Expo 2022 was a collaboration between the Khon Kaen Innovation Centre, Mitr Phol Group, and 50 alliance networks from the public and private sectors. The expo is yet another effort to transform Thailand’s least economically developed region into a hub for bringing Thai economics to Asean through the BCG model.”
‘Friday Saturday Sunday’: Thai student film at Osaka Asian Film Festival
MONDAY, FEBRUARY 13, 2023
Good news for the Thai film industry arrived early in 2023, with four local films being selected to compete and be screened at the 2023 Osaka Asian Film Festival from March 10-19.
Two of the nominated films are already well-known: “4 Kings” by director Puttipong Nakthong tells the story of wars between vocational students in the ’90s, and “OMG” by director Thitipong Kerdtongtawee, a romantic drama of a man who keeps falling in love with women who are already taken.
The other two are lesser known but carry the same level of quality: “You & Me & Me” by twin directors Wanweaw & Weawwan Hongvivatana, is about the love triangle between a man and two win sisters. The film just premiered on February 9.
The other is “Friday Saturday Sunday” by new director Pobmek Jullakarin, who recently graduated from Faculty of Communication Arts, Chulalongkorn University.
Winner of the Digital Forum Award at the 26th Thai Short Film & Video Festival held last year by the Thai Film Archive and Thai Film Foundation, “Friday Saturday Sunday” portrays problems faced by Thai teenagers during the turning point of their life.
The Question
The plot is based on a simple question that you will find on any form: Who do you choose as your emergency contact? The film asks will it be your parents, boyfriend or close friend?
“The answer for our teenage protagonist ‘Ning’ might not be as simple as you think,” the director said, adding that this question also makes Ning doubt her relationship with each person who is close to her.
Ning was reluctant to put her parents’ names on the emergency contact list, as this “emergency” could mean something bad or embarrassing that she does not want her parents to know.
She was also not sure about putting her boyfriend’s name, as he may not be able to help her in all situations.
The film chronicles the events over three days before Ning must leave home to attend college in Bangkok. Each passing day shows the relationship with her close friend “Pan” who shares her love for films, her boyfriend who is also leaving for the same college but will be in a different faculty, and her parents, who appear to be guarding a family secret.
Pobmek did not hide the fact that this movie was inspired by the works of South Korean director Hong Sang-soo both in terms of taste and direction. Most of Hong’s movies are about lovers’ relationships portrayed via slow moving images with low camera movement and intermittent zooming in and out, while the film progresses mainly by conversational dialogue.
Pobmek believes this technique is able to convey the character’s complex emotions without manipulating the viewers. He also loves that most of Hong’s films star Kim Min-hee, his real-life lover.
The director’s tribute to his idol were displayed in “Friday Saturday Sunday” via the conversations between Ning and Pan. The two close friends are seen playfully yet extensively exchanging their reviews of several iconic films, including those made by Hong and Quentin Tarantino’s “Kill Bill Volume 2”.
One of “Friday Saturday Sunday’s” charms is Ning’s clumsiness, which contradicts her selfishness, and makes the viewer want to smack her instead of sympathising with her.
During the film, we learn that some of Ning’s problems are caused by her own actions, like forcing her boyfriend to keep a promise he made without caring about him and his life changes.
At home, Ning feels oppressed by her parents, who are apparently keeping things from her, making her feel powerless and unable to deal with those around her. This ultimately makes her act out and make a fool of herself in the viewers’ eyes. In reality though, Ning is only facing the same challenges as other teenagers do during this turning point in their lives.
No distance left to run
“Friday Saturday Sunday” was first screened at the Kangjor 29 Film Festival at Bangkok’s Lido Cinema. The event featured the screening of over 20 films made by graduating students of Faculty of Communication Arts, Chulalongkorn University.
The theme of Kangjor 29 was to portray the uncertainty of new graduates’ future as they get ready to leave university and become full-time adults at a time when the world faces big uncertainties in terms of the economy, politics and the global pandemic.
Film students were urged to dig deep into their feelings in response to the society’s expectations to see them standing on their own two feet. As a result, some films portray teenagers’ sadness and melancholy, as if they were journeying through a dark tunnel with no sight of light at the end.
“Friday Saturday Sunday” was made along this very theme, but focused on portraying an introduction to the problems of life that teenagers face as they grow up.
The last scene shows Ning getting on a van leaving for Bangkok with her boyfriend chasing from a distance. She quietly closes the window blinds, as she tries to figure out how to deal with her problems.
The film ends without offering any answers, solutions or even an exit – a perfect reflection of the state of mind of most modern teenagers are desperately looking for answers, solutions and exits.
7 countries to fight in SEA Games kickboxing despite Muay Thai boycott
TUESDAY, FEBRUARY 14, 2023
Six Asean countries have confirmed their participation in the controversy-hit kickboxing tournament at the 2023 SEA Games in May, according to host Cambodia’s Kun Khmer International Federation (KKIF).
In a Facebook post on Sunday, the KKIF said Cambodia, Laos, Indonesia, Myanmar, the Philippines and Vietnam will compete in SEA Games Kun Khmer, which is being boycotted by other Asean countries including Thailand.
“Malaysia will send a list of athletes [for the Kun Khmer competition] later,” it added.
KKIF said all seven countries are members of its federation and are not afraid of threats from anyone over their participation.
The International Federation of Muaythai Associations (IFMA) has warned that any IFMA member countries who send kickboxing athletes to the games will be banned from IFMA competitions and activities for two years.
The controversy ignited when Cambodia replaced Muay Thai with Kun Khmer at this year’s SEA Games.
The IFMA said six of its members – Thailand, Malaysia, Vietnam, the Philippines, Indonesia and Singapore – will not join the SEA Games Kun Khmer.
It added that non-member countries are free to send their kickboxing athletes.
Qatari investors preparing imminent bid for Manchester United – Bloomberg
TUESDAY, FEBRUARY 14, 2023
Reuters
Qatari investors are preparing to make a bid to buy Premier League club Manchester United in the coming days, Bloomberg reported on Monday (February 13), citing sources familiar with the deal.
The report added that the consortium will submit an initial bid for the club by the end of the week, and that officials from Qatar Sports Investments (QSI) are helping with preparations for the bid.
Reuters has contacted Manchester United for comment.
All bids must be made before February 17 with the club’s U.S. Owners, the Glazer family, seeking around £6billion.
Jim Ratcliffe’s company INEOS formally entered the bidding process to buy United last month after the club’s U.S. owners, the Glazer family, said in November they had begun looking at options including new investment or a potential sale.
Earlier this month, the Daily Mail newspaper reported that Qatari investors are planning to make a huge bid to buy Premier League club Manchester United.
The Daily Mail report stated the interested investors are separate from QSI, which owns French side Paris St Germain, and that the money will come from an “individual fund” rather than a sovereign wealth fund.
Manchester United fans display banners in protest of the Glazer family’s ownership of the club inside the stadium
There are also media reports suggesting the CEO of Tesla, Elon Musk is considering a bid to buy the club.
In August, Musk – the world’s richest person, tweeted he was buying the English soccer club – only to say a little later it was all part of “a long-running joke”.
United, managed by Erik ten Hag, are third in the league on 46 points after 23 games, two points behind Manchester City and five adrift of leaders Arsenal.
Thai Senior Professional Golf Association join hands with Zen Golfer’s Factory on allowing Japanese senior golfers to participate in Bangkok golf programme
MONDAY, FEBRUARY 13, 2023
Thai Senior Professional Golf Association (TSPGA) has collaborated with Zen Golfer’s Factory on allowing Japanese senior golfers to participate in Thai Senior Tour 2023’s qualifying school golf programme.
The programme is being held at Legacy Golf Club in Bangkok from February 13 to 15.
Zen Golfer’s Factory, the first importer and distributor of golf equipment from Japan via an online platform in Thailand, also supported TSPGA in organising the fifth stage of Thai Senior Tour 2023 golf competition at Legacy Golf Club in Bangkok from August 9 to 11.
This collaboration aims to promote Thailand among foreigners, stimulate tourism and facilitate golf-related business operations in Thailand, said TSPGA president Sutin Darunyothin.
He added that Zen Golfer’s Factory is well-known among Japanese golfers.
“We are lucky that the association has received support from Zen Golfer’s Factory in organising the fifth stage of Thai Senior Tour 2023 from August 9-11 at Legacy Golf Club in Bangkok,” he said.
Earlier, Zen Golfer’s Factory organised a special golf competition to celebrate the 10th anniversary of its establishment at Legacy Golf Club on Sunday
Japan’s ambassador to Thailand, Kazuya Nashida, presided over the competition’s opening ceremony, while several golfers from Japan and Thailand participated in the competition.
Thai professional golfers participated in the competition including Thanyakon Khrongpha, Ploychompoo Wilairungruang and Nemitra Chantanakhet.
Meanwhile, TSPGA president Sutin Darunyothin congratulated Zen Golfer’s Factory founder Akinari Nakamura founder on this occasion.
Thai Senior Tour 2023 comprises six competitions for cash rewards totalling 7 million baht. The competitions are scheduled to be organised as follows: First stage: Panorama Golf and Country Club, Nakhon Ratchasima, February 22-24 Second stage: Alpine Golf Resort, Chiang Mai, March 29-31 Third stage: Phuket Country Club, Phuket, April 24-27 Fourth stage: Artitaya Golf & Resort, Nakhon Nayok, May 16-18 Fifth stage: Legacy Golf Club, Bangkok, August 9-11 Sixth stage: Royal Hua Hin Golf Club, Prachuap Khiri Khan, September 5-7
Siam Paragon invests THB3 billion to transform the global landmark to the next level
TUESDAY, FEBRUARY 14, 2023
Bangkok (February 14, 2023) – Siam Paragon, a world-class destination, has officially launched a transformation project to redefine the ‘global landmark in the heart of Bangkok’ and take it new heights of excellence to meet all the lifestyle needs of the future, reinforcing its positioning as one of the most-visited ‘global landmark destinations’.
Commenced towards the end of 2022, the 3-billion-baht investment project will take 18 months to complete, with a projected completion date in mid-2024. The transformation project is unveiled together with the achievement of the soaring revenue in 2022, which exceeded the target and surpassed the pre-covid sales in 2019, with the luxury segment pushing the jump in sales and achieving world’s top ranking. The roaring success amplifies Siam Paragon’s strong leadership in the high-net-worth shopper segment.
Ms. Caroline Murphy, President – Sales and Business Relations of Siam Piwat Co., Ltd., stated, “Over the past 17 years, Siam Paragon has established itself as a global destination that has earned the top-of-mind position among Thai and international visitors alike. As a vital part of Bangkok’s DNA, Siam Paragon has been meshed into every heartbeat of the metropolis and has breathed vibrancy into the daily life of people in Bangkok. It is also the ultimate microcosm where visitors from across the globe can come and experience the latest lifestyle trends of Bangkokians.”
“Siam Paragon has been a platform for retailers, including luxury brands and local entrepreneurs, to showcase the best of the best. As reception for luxury products has been phenomenal and some of the world’s highest growth in sales has been achieved here, Siam Paragon has established itself as a bona fide destination for luxury items. In addition, many brands have opened pop-up stores in our venue to offer limited collections, thus generating buzz and experience beyond expectations for customers, reinforcing Siam Paragon’s leadership in the affluent customer segment in Thailand. Siam Paragon has also been ranked as the world’s 6th most checked-in destination and the only venue in Thailand and Asia to place on Facebook Review’s list of top-ten global destinations, making it truly a global legendary landmark.”
“Siam Paragon had an exceptional year in 2022, as the revenue not only exceeded the target but showed an astonishing growth of over 50 percent compared to a year earlier and surpassed the pre-Covid-19 figures in 2019 despite the limited presence of international tourists. The leap in sales was driven primarily by the luxury segment, which reported soaring profits and three consecutive years of world-class performance. This success has led luxury brands to prioritize Thailand as their key target in Southeast Asia and Asia for launching special concept stores or unveiling their latest collections, thus boosting demand for space for additional store locations. Siam Paragon’s new investment plan will enable it to meet this demand and accommodate more luxury brands and new brands out of the over 100 names currently on the waiting list. Newcomers will include brands that will be making their debut in Thailand and brands that will be available exclusively at Siam Paragon. These factors all reinforce Siam Paragon’s position as the true global ‘luxury destination.’
Ms. Murphy added, “We will build a new global prototype of a platform where the crème de la crème from every field can come together and co-create world-class projects and experiences that exceed all expectations. This new project is called “The Next Level Evolution,” in which we will create yet another phenomenon in the retail business as we transform Siam Paragon, a world-class landmark in the heart of Bangkok, to redefine excellence and cater to all lifestyle needs of the future. The game-changing transformation of the 500,000 sq.m. destination in the middle of Siam will also place Thailand firmly on the global stage once again and enable it to win over the world.”
Beginning in 2022, Siam Paragon’s ‘Paragon Department Store” has been undergoing a revamp, scheduled to be completed in 2023. Alongside this overhaul, Siam Paragon is investing THB 3 billion more in the transformation of the ‘global landmark in the heart of Bangkok’. Renovation has been ongoing in sections since the end of 2022 and is expected to reach completion in the mid of 2024, or 18 months from now.
Vision for the Transformation of Siam Paragon
Ms. Mayuree Chaipromprasith, President of Corporate Affairs and Communications, Siam Piwat Co., Ltd, described the vision for the transformation of Siam Paragon. “We believe in the ecosystem that we have created and in its the boundless potential. Through the collaboration of various industries, we will co-create new phenomena. We are putting away traditional real estate development playbooks. Siam Paragon will no longer be a shopping center but a global platform where experts from all fields, including architects, engineers, interior designers, art and tech gurus, as well as luxury brands across the world and Thai entrepreneurs can engage in co-creation. The platform will also seamlessly connect the physical world and the digital world through OneSiam SuperApp and the Metaverse to fulfill lifestyle needs for all visitors and deliver world-class experiences beyond expectations in all dimensions.”
“Siam Paragon is highlighting the idea of co-creation on this platform to bring about sustainable development and business growth. This is where everyone will collaborate to redefine excellence. Many entrepreneurs have already launched highly successful flagship stores, and for this next level, we will work with them to bring to life one-and-only ultimate iconic stores in Thailand.”
“Each day, Siam Paragon welcomes visitors from all over the world. We are placing a strong emphasis on shaping Siam Paragon into an ideal community for citizens of the world. We have been conducting our most in-depth and broadest study on the largest group of customers to obtain insights, which will be utilized to enable us to better resonate with their needs and wants, their passions, and a broad spectrum of interests in order to deliver distinctive and engaging experience. As part of this major transformation, we will create an immersive community where customers will be a part of this key milestone. We will soon introduce ‘The Wall of Wonders’ campaign, which features a shared community space where locals and international customers can share on interactive walls their ideas and what they would like to see and experience at Siam Paragon. We will integrate those ideas from people from around the globe into our space with cutting-edge technology to cater to each community and all lifestyles in a fascinating way. More details on the ‘Wall of Wonders” campaign will soon be announced,” said Mayuree.
The Pillars of Siam Paragon – The Next Evolution
To rise to new heights of excellence and meet all lifestyle needs of the future, Siam Paragon – The Next Evolution will be built upon five pillars as follows:
1. Universe of the World’s Excellence
To complete this ultimate transformation, Siam Paragon is relying on co-creation and collaboration with visionaries from every industry to bring about the greatest phenomenon of the 21st century, deliver groundbreaking innovations never before seen in the retail industry, and ultimately elevate Siam Paragon to a global legendary destination, thus setting a new benchmark of excellence.
2. Gateway to the Next Frontier Where the Digital World Meets the Physical World
Siam Paragon will become a new global prototype of a co-creative platform that seamlessly bridges all the five physical senses with the imaginative power of the digital and virtual world to present lifestyles of the future in a way that goes above and beyond all expectations and deliver physical experiences that mesh perfectly with the eye-popping wonder of the virtual world – a new key magnet that will draw visitors from across the globe to Siam Paragon.
3. Celebration of Inclusive Luxury
Over the past 17 years of operation, Siam Paragon has established itself as the leader in Thailand’s highest spending consumer segment and as a destination that boasts the most comprehensive range of luxury brands. The new historic transformation of Siam Paragon will redefine luxury for all, regardless of age, gender, or walks of life, across every sphere, from fashion, lifestyle, dining, travel all the way to technology, finance, and other personalized experiences. This will mark the first time ever in the world that everyone can access and experience luxury in every facet of life and reward themselves.
4. Pioneering Quality Life Experience
As an integral part of this transformation and prototype development for future lifestyles, Siam Paragon will be co-creating a large space with its partners to bring art, technology, and nature into the venue to contribute to a cleaner world, improve energy efficiency, cater to sustainability-minded lifestyles, and ultimately enhance the well-being and the way of life for communities and the world, all this in a way that goes beyond the bounds of imagination. Visitors will be able to spend their time in Siam Paragon as their second home where they can take in nature, in an environment with excellent temperature and hygiene management and one of the best greenhouse gas management systems in Asia.
5. The Paragon Community of Global Citizens
Siam Paragon strives to rise to new heights and deliver both in-store and digital experience beyond expectations, which will further strengthen Siam Paragon’s capability to expand its customer base to global citizens and achieve sustainable growth. Siam Paragon is creating new ‘cluster’ spaces to offer products, services and activities that serve the needs of different communities. By engaging customers and fostering a sense of ownership in their communities, customers can share ideas and interests, create opportunities, and discover new technologies and business opportunities from wherever they are.
Siam Paragon is also in the process of considering more world-class concepts to feature for the first time in Thailand and the world and concluding all the exciting highlights of Siam Paragon – The Next Evolution.
“Research has shown time and again that Siam Paragon has always been the number one destination for Thai and international visitors and has become a familiar part of the lives of Bangkokians of all generations. Through the long-standing and close relationships with its customers, fostered through billions of visits, Siam Paragon has developed a truly unique character. Therefore, while we are going ahead with a major transformation to rise to the next level of excellence and meet all lifestyle needs of the future, which is full of promise of so many exciting offerings, we recognize the necessity of preserving our essence, which gives Siam Paragon its distinctive identity and has earned Siam Paragon a special place in the hearts of all visitors that cannot be replaced by any other development project,” concluded Ms. Murphy.
How’d it go? Giving 800 Saudi VVIPs in Thailand a high-end concierge service
TUESDAY, FEBRUARY 14, 2023
Vitaya Saeng-Aroon
Late last year, Saudi Arabia dispatched the largest delegation of attendees – 800 people – to Thailand for the Apec summit. The delegation included members of the royal family and staff from nine royal offices, and their transportation needs were estimated at 300 vehicles.
It was in Thailand that Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman also spent the maximum amount of time (three days) outside of his home country last year. The necessity to provide “zero mistake” services for 24 hours was the duty of one Thai company.
“They told us to be prepared for around-the-clock work. I thought, it’s just a saying. But this was the toughest and most challenging work of my life,” said Jakrapan Rattanapetch, managing director of World Reward Solution Co Ltd (WRS Group), in an exclusive interview with The Nation.
What did you learn from servicing VVIPs from Saudi Arabia during the Apec meeting? “We were under high pressure because there were many parties involved, not only the Foreign Ministry or Tourism Authority of Thailand. We had to ensure zero mistakes in whatever we did.'”
Though used to serving royal families, WRS’s team of staff were not enough for the Saudi Arabia visit. The firm prepared another squad it named the “Avenger Team“, who were told they weren’t working for WRS but rather for Team Thailand.
The Avenger Team had to be able to handle high pressure and work for 24 hours. The other qualification was a can-do attitude, he said.
“Imagine a VVIP customer abruptly flying in by private jet at 2am. The team had to be ready to go. And at 2am, how can you handle protocols to get between one site and another, like parking and seeking permission from the airport? You need people with a can-do attitude.”
WRS’s concierge group was set up to liaise directly with each of Saudi Arabia’s nine offices under royal command, including the medical team, food, and security. They also prepared interpreters, protocols, and drivers for different kinds of vehicles.
“We had around 100 people working as concierge staff and interpreters during the Apec meeting, in addition to drivers carefully selected from Thailand’s International Tactical & Bodyguard team.”
Jakrapan Rattanapetch, managing director of World Reward Solution Co Ltd (WRS Group)
Jakrapan said WRS deployed 250-300 staff to take care of the 800 delegates from Saudi Arabia.
“We rented a whole building for our staff to stay together as they need to be on standby 24 hours a day. The staff lived there together for 14-15 days.
“You would never know your schedule beforehand. You’d just know it’s time to go, so get ready to take off.”
Impacts of the Saudi visit In addition to diplomatic ties, Thailand is now a focus for Saudi Arabia in terms of medical services, tourism, energy and sustainability.
“I now see an Arab country like Saudi Arabia in a new light. Since visiting the country again after the Apec meeting, I see things differently. I believe people who visit Saudi Arabia will learn something new, different from what we see in news reports.”
He also sees new opportunities arising from tourism links between the two countries.
“Saudi Arabia has a long history and culture, their cities are sophisticated. They want tourists and Thailand’s hospitality will be in hot demand. It’s like they have prepared the hardware [buildings, infrastructure, new attractions], but they need software.”
WRS and its plans “I regarded my business in the first three years as ‘hi-tech plus high-touch’,” he said.
Differing from others in the market, WRS launched its luxury-concierge business in 2018 as a start-up, offering technology-based services with a “digital butler”, e-vouchers, royalty programmes and more to speed up service for demanding customers.
In the years before the Covid-19 pandemic began in 2020, WRS flourished. The company earned around 90 billion baht in its first year and 80 million in the following year.
But the virus forced the company to stall its expansion plans. It had been eying five countries – China, Hong Kong, Singapore, Cambodia and Myanmar.
This year, WRS plans to resume its business in the target countries, excluding Myanmar due to the political unrest there. Some of its target markets are also emerging economies.
“Cambodia is interesting because the upper and middle-income groups have high growth. Vietnam caught my interest because we have found a local potential partner.
“People in Vietnam have trust in services from Thailand. Difficult to believe but during Covid-19, Vietnamese were among the top five nationalities buying condominiums in Thailand. They tend to spend in Thailand and Singapore.”
Jakrapan said Singapore remains the “hub of Asia” and so will serve as WRS’s springboard to other parts of the continent.
“Our brand is also attracting businessmen and investors from China,” he added.
Saudi not in WRS’s initial expansion plan In 2020, Jakrapan was onboard when the Foreign Ministry led 100 Thai CEOs on a trip to Saudi Arabia and other Middle East countries after Thai-Saudi diplomatic relations were restored after 30 years.
Two years later, Thailand hosted the Apec (Asia Pacific Economic Cooperation) forum, and thanks to his earlier trip to Saudi Arabia, WRS was selected to take care of the government’s guests from the Middle East kingdom as an exclusive luxury-concierge service provider.
Concierge service from experienced professionals like WRS is unlike general VIP service.
“Commercial banks may hire a tour company to prepare services for their VIP customers. It’s different from us. You could compare WRS to a tour operator or an event organizer, but in fact, we are not the same.”
Concierge or high-end service means utilizing the total combination of knowledge and connection to turn customers’ huge demand into [business] success, he said.
“For example, when it came to serving the delegates from Saudi Arabia, others may have simply prepared a motorcade to take care of the visitors. But for concierge service, we go beyond preparing vehicles. We had to get drivers who can speak English and/or Arabic and they had to be ready 24/7.
If a customer wants a limited edition like a watch, we must be able to find it. Customers may want specific decor that they cannot find from their country or Halal food specifically cooked by a Saudi Arabian chef; we must be able to find them,” he said.
In some cases, when VVIP customers’ schedule requires privacy and security, many things are unplanned or unmentioned beforehand, especially when the customers have to deal with authorities. The concierge service needs to have connections to facilitate their needs, for example, travel to the airport.
“You may never know when VVIP customers want to arrive or fly out [so] you need to be well prepared and race against time pressure and the demands of the customer. You need to have ‘access’ to reach relevant authorities at the airport, for instance, to get things done,” he said.
“You may never know when VVIP customers want to arrive or fly out [so] you need to be well prepared,” said Jakrapan, WRS CEO.
Pre-Covid, WRS was focused only on Asean and China.
“We were looking for staff who could speak Chinese,” Jakrapan said.
But when China prolonged its lockdown, businesses tried to find other markets to replace China.
“Of course, Asean markets could not replace China. But the Middle East, where Saudi Arabia is like an older brother, has such potential. When Saudi Arabia takes action, other Arab nations pay attention.”
Gulf customers may not spend as much as Chinese customers, he said.
“But in terms of demand from high-level customers, their spending may double.”
Saudi Arabian visitors stay an average of 10-14 days in Thailand, he added. They spend a minimum of 12,000 baht per night on accommodation and prefer private villas because Arab women often keep out of the public spotlight. They also tend to travel in large family groups.
VVIP corporate customers Banks and insurance companies also hire concierge services like WRS to facilitate their VVIP customers.
“In this type of scenario, it is not the hirer but their client that uses the service.
What the corporate customers want from us is for their clients to be impressed by the treat and love their brand even more,” he said.
Holding a Michelin-star dinner meeting has become commonplace these days but the organisation involved is far from simple.
“What WRS can do is hire a Michelin-star chef that has to be booked three years in advance or a chef that serves only royal families.
“We did fly in 13 chefs for an event called ‘Dinner Incredible’ for customers who invited elite clients. The 13-course set dinner was priced at around 25,000 baht,” he said.
Who can work in this business? Concierge service providers need to have a background that goes beyond “lifestyle” or “tourism”. People from the hotel or travel industry may not be able to do the job.
Instead, Jakrapan looks for recruits with a background in luxury brands.
“They can understand luxury and will compare services from competitors. They travel around the world, not just to enjoy travel, flying business or first class, or staying at 5-star hotels, but they are required to understand luxury lifestyles and cultures and accumulate knowledge to make our services different from others.”
Other companies may hire staff on their ability to speak English, travel experience, and service skills. But that’s not enough for WRS. “Don’t forget that the people we take care of have billions in their bank accounts and they travel the world over. [We have to ask] how can we cater to their needs?
“When such a customer contacts you to ask for a restaurant recommendation, and your staff simply speak English, that’s not enough because their needs are niche.
“We need staff who have accumulated knowledge about luxury brands, fashion, history, lifestyle, diplomatic ties, etc. They are the ones with the experience and background that money cannot buy. We have these people and people with such connections,” he said.
Thai cybersecurity firm reaches for the cloud with US partner, as more firms go digital
MONDAY, FEBRUARY 13, 2023
Nongluck Ajanapanya
Cyber Elite, Thailand’s leading cybersecurity service provider, has partnered a US firm to provide cloud security and protect Thai businesses and their IT environment from emerging cyber-threats.
The collaboration with Zscaler, a US-based cloud security service provider, comes amid a wave of Thai businesses transforming to digital via cloud.
Supakorn Kungpisdan, managing director of Cyber Elite, told a press conference on Monday that most Thai companies wrongly assumed adoption of cloud would make them safe.
He said that each company must have its own cybersecurity system to protect itself while operating on the cloud. However, the majority of businesses prefer to concentrate on their core competencies. So, more and more businesses are turning to cybersecurity experts for assistance.
“This trend is our opportunity,” Supakorn said.
Thailand’s cloud market is expected to grow by at least 40% this year, outpacing the global average of around 30%. This trend increases the demand for cloud-based security services.
By partnering with Zscaler, Cyber Elite will be able to provide world-class managed cloud security services while saving time and being cost-effective, he said.
Supakorn Kungpisdan
“With Zscaler’s innovative technology, enterprises can strengthen their security level without making changes to their systems, while Cyber Elite provides 24-hour threat monitoring and surveillance,” he added.
Foad Farrokhnia, Zscaler’s head of alliance and channels for Asia Pacific and Japan, said that Zscaler’s cloud security technology was built on zero trust architecture, which emphasises the “never trust, always verify” philosophy.
Customers could rest assured that their business and IT environments would be secure due to strong identity verification, he said.
He expected demand for digital solutions, including cybersecurity in Thailand, to increase significantly in the coming years, as approximately 56% of Thai companies are on the path of digital transformation, up from 12% before the Covid-19 pandemic.
“Zscaler will provide managed cloud security services to financial sector organisations, such as banks, capital market and insurance companies; the government sector [public agencies and state enterprises]; and large enterprises that are undergoing digital transformation, cloud transformation, and cybersecurity transformation,” he noted.
Karen Chong, Zscaler’s regional vice president for Southeast Asia, added that being a part of Thailand’s cybersecurity journey at this early stage was exciting.
Thailand has the potential to be the region’s cloud hub due to its ready infrastructure, 5G network, cloud data centre, and talented workforce, she pointed out.
She stated that Zscaler, in partnership with Cyber Elite, was expected to be a part of this trend as the leading cybersecurity service provider in the country and the region.
She said Zscaler had been globally recognised for its cloud security solutions for decades. The company is regarded among the world’s largest cybersecurity firms, placing it in the leader group of Gartner’s Magic Quadrant.
Supakorn said that Cyber Elite aimed to become Thailand’s leading cloud security service provider in 2023, with a revenue target of 1 billion baht by 2025.
The company also intends to expand its operations to other Asean countries, with emphasis on Laos, Cambodia, and Myanmar.
Cyber Elite is a subsidiary of Benchachinda Group, Thailand’s leading digital infrastructure and solutions provider, aimed at increasing the competency and competitiveness of Thai organisations. The group’s businesses are currently divided into: digital infrastructure and solutions; distribution and fulfilment; content and investment.
Suchart Chantaranakaracha (left)
Manchester United fans display banners in protest of the Glazer family’s ownership of the club inside the stadium
Jakrapan Rattanapetch, managing director of World Reward Solution Co Ltd (WRS Group)
Supakorn Kungpisdan
SootinClaimon.Com 