Everyone was born with a pair of eyes; how can we keep them healthy and maintain our vision for as long as possible?
Have you ever tried covering one eye at a time to detect any visual problems? In case you haven’t, join us in doing this basic eye examination during Roche Thailand’s Life Talk Series III “Window to Change” on Saturday May 21, 2022 from 7pm onwards.
Thanapong Somkijrungroj, MD (ophthalmologist) is going to show you some early signs to watch out for. You will have a chance to hear from a neovascular Age-related Macular Degeneration (nAMD) patient about his treatment experience and outcome. nAMD is an eye disease that affects over 21,000 Thai people annually, and its incidence rate keeps rising. Prompt yourselves and your loved ones to consult professional eye doctors before vision loss.
In addition, Roche Thailand, a leader in innovative treatments and biotechnology, has teamed up with Give Vision, a European-based startup that develops wearables for visually impaired people. Not only does the gadget enhance vision quality, but it also monitors eye symptoms remotely and reports such data to doctors in real-time. This collaboration brings about a brighter future for Thais. Whether you are a patient or a caregiver, access to treatment and technology customized for your vision restoration will be localized soon.
Prepare to buy using KUB Coin with the new features “Land Office” on Bitkub Metaverse soon
Bangkok, May 13 – Bitkub Blockchain Technology Co., Ltd, a blockchain leading company, in cooperation with Metaverse Thailand, a leading visual world development platform company, announced the new roadmap to connect Metaverse Thailand with Bitkub Chain and enhance the land area’s expansion in the future.
Under this press announcement, Metaverse Thailand have already moved the infrastructure on Bitkub Chain and allowed the users to trade the land using KUB Coin. This has demonstrated the owners’ rights of the land along with business expansion on visual world. Moreover, the users can also swap META Coin with KUB Coin.
In addition, with the new plan announcement, Metaverse Thailand also invest in Bitkub Metaverse land to build “Land Office” and allow the users to trade the land using KUB, MVP and KUSDT along with announced the new features such as staking and mortgaging. Moreover, the new set of land will be sold under Asoke and Prompong areas for 33 KUSDT, 3 KUB or 333 MVP per 1 HEX, which will be opened for sale on May 30 from noon to 8pm.
Passkorn Pannok, CEO of Bitkub Blockchain Technology said “With the new plan announcement, we will expand the current users on Metaverse Thailand on Bitkub Chain. Also, the Land Office on Metaverse Thailand will be opened for sale and allowed the users to trade on Bitkub Metaverse using KUB, MVP and KUSD coins.”
Pongsakorn Udombua, from Metaverse Thailand, said “Under this new roadmap, the new zone (Prompong area) will be added up with 80,000 HEXAGON, which we have followed our community’s suggestion for this new update. We have already reduced the unnecessary area including street, canal and garden in order to enhance the platform’s potential for everyone.”
(PR News) Opening August 1, 2022, you will embark on a new travel adventure.
Grande Center Point Space Pattaya, a new landmark in the heart of North Pattaya, a city that never sleeps, is Thailand’s first “Space themed” hotel. Escape the hustle and bustle to explore new leisure experiences in a concept design hotel with a full space theme from the front to the interior and services.
Grande Centre Point Space Pattaya, a soon-to-be-opened hotel inspired by space travel, from the space shuttle to the exterior and landscapes of outer space, features 490 rooms with aurora and star lights on the ceiling to make you feel like you’re on a spaceship. Every room has its own balcony with views of the Pattaya ocean, with sizes ranging from 45 to 133 square meters. Amenities includes a four-figure bathroom and cutting-edge technology like a washlet, smart mirror, 55-inch smart TV, and Bluetooth.
The flagship hotel of the LH Mall & Hotel group is Thailand’s first completely space-themed hotel. It’s unique and fascinating because it combines space travel as a design concept with the comfort of guests of all ages, with attractions ranging from a massive water park spanning 11,500 square meters in four zones, such as an adventure in the space forest, to a huge water park spanning 11,500 square meters in four zones.
Space Water Park has a space pirate beach with white sand and realistic-looking waves. Visitors may float down the lazy space forest river through caverns, waterfalls, jacuzzis, and intergalactic jungles. A modern spaceship-themed facility featuring a kids club and games room, as well as outdoor recreational facilities including a playground, sandpit, and mini golf, are among the other amenities.
There are also additional facilities such as restaurants, cafés, and rooftop dining. and a huge conference room area at the Space Convention Center that can host gatherings for up to 900 people and has cutting-edge equipment such as a 12.48 x 5.40 m LED screen.
The Let’s Relax Onsen & Spa, with a floor space of up to 3,000 square meters and the first sea view onsen in Thailand, is one of the highlights as well as popular treatments like spa and Thai massage. Grande Center Point Space Pattaya is bringing the dream of going to space closer to reality. Reservations are now available at tel. or +66 33 268 888 or https://www.facebook.com/gcpspacepattaya/
“Singha Soda” ventures into the NFT world with the “Singha Soda NFT Art Contest,” bringing five creators to spark new ideas in their styles and create the one-and-only art piece with a chance to win 400,000 Baht and visibility in the “Singha Soda” account in ‘Opensea’ the biggest NFT marketplace in the world.
Mr. Titiporn Thammapimookkul, Chief Marketing Officer – Brand of the Boonrawd Trading Co., Ltd., revealed that Soda Singha has never stopped driving innovative marketing campaigns in line with the future to excite consumers constantly. “Singha Soda” has moved the market through collaborations with the fashion, music, and art industry, for example, the “Singha Soda Battle of the Year Thailand,” which is one of Thailand’s biggest hip hop competitions and one of the most long-running campaigns from Singha Soda, the collaboration with Mister Cartoon, a global tattoo artist, in his limited edition label design, and the collaboration with “Dry Clean Only,” an international Thai fashion brand, launching a special collection available worldwide, all of each has represented the brand’s identity and resonated with its target audiences.
Singha Soda has recently shaken the market once again by going digital with “Singha Soda NFT Art Contest,” which invites everyone to relish their creativity and design Singha Soda in their way. The digital art contest will reward up to 400,000 Baht with top NFT artists like Palm Instinct, PUCK, Sahred Toy, Jeff Aphisit, and Jecks bkk, who are looking to inspire contestants. The winner’s work will be sold on Singha Soda’s Opensea account. The campaign will strengthen the brand’s image of excitement and innovation, creating new ways of consumer engagement throughout the ages.
“Nowadays, there are a lot of intellectual properties with high value in the world market. You don’t have to be the best at drawing, but you need the best idea. We will select the 50 best ideas from Thais to sell in Opensea, which is the world’s biggest NFT marketplace. The company will pass on full income from the sale to the artist. This is a new milestone of creativity from Singha Soda which will resonate with the new generation,” Mr. Titiporn said.
Create your digital art with the “Singha Soda NFT Art Contest” with refreshing, creative, and unique ideas under the concept “Singha Soda’s Style In Your Own,” showcasing “Singha Soda’s” brand identity in your ways featuring Singha Soda’s logo design or bottle in your works creatively. Submit your works now at www.singhasodanftartcontest.com from now until June 15, 2022.
Bangkok, May 13 – SHR reveals strong business recovery with the total revenue in the first quarter of 2022 (Q1/2022) at Bt. 1.69 billion. The growth momentum is expected to continue to improve quarter-on-quarter towards 2022 on the back of the relaxation of travel policy across the world, brought up the estimated 2022 revenue to hit Bt. 8.50 billion or doubling the YoY growth.
SHotels and Resorts PCL (SHR), the flagship hospitality arm of Singha Estate PCL, announced its financial results, showing revenue from sales and services during Q1/2022 at Bt. 1,690 million, tripled the revenue over the same period last year. Adjusted EBITDA in the said quarter stood at Bt. 261 million which was the third consecutive quarter of positive adjusted EBITDA, reflecting the performance recovery of the Company.
In Q1/2022, the revenue from the UK and Maldives hotels portfolio made up to 78% of total revenue. The lift in Covid-19 restrictions, the borders reopening to international travelers together with the rise in travel demand in Thailand, Fiji, and Mauritius brought up the revenue from Thailand and Outrigger hotels in Q1/2022. This reflects a positive signal for future revenue growth when tourism sector recovers to surpass pre-pandemic level and the international flights resumes to its normal schedule.
The reopening borders policy and the government’s economic stimulus measures in several countries have allowed the travel demand to recover, starting from the second quarter this year onwards. The Company foresee the positive trend which reflected by the operation performance in April 2022, showing an increase in average occupancy of the overall portfolio of 60%. The growth performance is projected to keep its momentum towards 2022 in accordance with the entering into high travel season of each county. Given the aforesaid positive factors, the well-diversified hospitality portfolios, upgraded services and offerings to reach high tourist demands, and enhanced direct booking channels are the elements driving the Company performance to achieve its target of Bt. 8,500 million, pushing SHR to become the No. 2 highest revenue Thai hotel operator.
Mr. Dirk De Cuyper, Chief Executive Officer of S Hotels and Resorts PCL, revealed that “We foresee the increasing demands in the hospitality business, including our properties in the five top leisure destinations, particularly in the UK and Maldives. Moreover, SHR’s strategy in driving the business using digital marketing to create customized platforms for the wider implementation of direct booking has given the company more resilience and adaptability. The property renovation and the creation of value-added features in all identified potential properties to cater to guests’ various preferences and lifestyle needs is another key factor that will drive 2022 revenue.”
Performance of CROSSROADS Phase 1 Hotels in Maldives for Q1/2022 continued to recover, accomplished the occupancy rate of 74%, well above the industry average. This was mainly from its outstanding design and composition of the project which are different from other typical resorts in Maldives. CROSSROADS project is the first and only fully integrated leisure lifestyle destination in Maldives that serves variety types of guests. Thanks to the fast recovery in tourism, its unique selling points, and the proactive marketing strategy to attract customers from several regions across the globe, CROSSROADS Phase 1 Hotels are predicted to maintain favorable occupancy rate throughout the year 2022 and able to enhance ADR by the Company’s strategies on product upgrades and high spending customer concentration, for example tourists from Europe, America, and Middle East. Regardless, SHR is confident that once the tourists from Asian countries such as China, Korea and Japan, which used to be one of the key source markets in Maldives, have their borders fully reopen, the performance of CROSSROADS Phase 1 Hotels will grow even stronger and become a dream destination of travelers from all over the world.
The resumption of travel demand in UK and a solid performance are expected to continue starting from April to year end, in accordance with the high travel season. SHR projects the performance to return to the pre-pandemic level of 2019 as the hotels in UK portfolio are regional hotels, located in key leisure and economic destinations which gain more popularity from pent-up domestic travel demand. In addition, SHR intended to enhance the efficiency and return of UK hotels portfolio with the plan to further invest in the potential hotels to increase ADR and improve the profitability from Q3/2022 onwards.
Moreover, with the optimistic view on the recovery of MICE (Meetings, Incentive Travel, Conventions, Exhibitions) business in the UK, Maldives, and Thailand, especially SAii Laguna Phuket, this is another upside to boost up the 2022 performance.
“Amidst the most challenging environment. SHR will continue the long-term growth to continuously improve efficiency and returns of our hotel portfolio. A total budget of Bt. 2,800 million has been set aside for a three-year-plan to enhance its asset rotation strategy for existing properties and the construction of SO/Maldives, which is targeted to launch in 2023. The other earmarked budget is set for the merger and acquisition plan for new properties. We also aim to focus on being a hotel operator, either through a flagship homegrown brand or partnership with leading international brands for business expansion to gear up for accelerated growth and enhance competitiveness.” added Mr. Dirk De Cuyper.
(PR News) SHR reveals strong business recovery with the total revenue in the first quarter of 2022 (Q1/2022) at Bt. 1.69 billion. The growth momentum is expected to continue to improve quarter-on-quarter towards 2022 on the back of the relaxation of travel policy across the world, brought up the estimated 2022 revenue to hit Bt. 8.50 billion or doubling the YoY growth.
SHotels and Resorts PCL (SHR), the flagship hospitality arm of Singha Estate PCL, announced its financial results, showing revenue from sales and services during Q1/2022 at Bt. 1,690 million, tripled the revenue over the same period last year. Adjusted EBITDA in the said quarter stood at Bt. 261 million which was the third consecutive quarter of positive adjusted EBITDA, reflecting the performance recovery of the Company.
In Q1/2022, the revenue from the UK and Maldives hotels portfolio made up to 78% of total revenue. The lift in Covid-19 restrictions, the borders reopening to international travelers together with the rise in travel demand in Thailand, Fiji, and Mauritius brought up the revenue from Thailand and Outrigger hotels in Q1/2022. This reflects a positive signal for future revenue growth when tourism sector recovers to surpass pre-pandemic level and the international flights resumes to its normal schedule.
The reopening borders policy and the government’s economic stimulus measures in several countries have allowed the travel demand to recover, starting from the second quarter this year onwards. The Company foresee the positive trend which reflected by the operation performance in April 2022, showing an increase in average occupancy of the overall portfolio of 60%. The growth performance is projected to keep its momentum towards 2022 in accordance with the entering into high travel season of each county. Given the aforesaid positive factors, the well-diversified hospitality portfolios, upgraded services and offerings to reach high tourist demands, and enhanced direct booking channels are the elements driving the Company performance to achieve its target of Bt. 8,500 million, pushing SHR to become the No. 2 highest revenue Thai hotel operator.
Mr. Dirk De Cuyper, Chief Executive Officer of S Hotels and Resorts PCL, revealed that “We foresee the increasing demands in the hospitality business, including our properties in the five top leisure destinations, particularly in the UK and Maldives. Moreover, SHR’s strategy in driving the business using digital marketing to create customized platforms for the wider implementation of direct booking has given the company more resilience and adaptability. The property renovation and the creation of value-added features in all identified potential properties to cater to guests’ various preferences and lifestyle needs is another key factor that will drive 2022 revenue.”
Performance of CROSSROADS Phase 1 Hotels in Maldives for Q1/2022 continued to recover, accomplished the occupancy rate of 74%, well above the industry average. This was mainly from its outstanding design and composition of the project which are different from other typical resorts in Maldives. CROSSROADS project is the first and only fully integrated leisure lifestyle destination in Maldives that serves variety types of guests. Thanks to the fast recovery in tourism, its unique selling points, and the proactive marketing strategy to attract customers from several regions across the globe, CROSSROADS Phase 1 Hotels are predicted to maintain favorable occupancy rate throughout the year 2022 and able to enhance ADR by the Company’s strategies on product upgrades and high spending customer concentration, for example tourists from Europe, America, and Middle East. Regardless, SHR is confident that once the tourists from Asian countries such as China, Korea and Japan, which used to be one of the key source markets in Maldives, have their borders fully reopen, the performance of CROSSROADS Phase 1 Hotels will grow even stronger and become a dream destination of travelers from all over the world.
The resumption of travel demand in UK and a solid performance are expected to continue starting from April to year end, in accordance with the high travel season. SHR projects the performance to return to the pre-pandemic level of 2019 as the hotels in UK portfolio are regional hotels, located in key leisure and economic destinations which gain more popularity from pent-up domestic travel demand. In addition, SHR intended to enhance the efficiency and return of UK hotels portfolio with the plan to further invest in the potential hotels to increase ADR and improve the profitability from Q3/2022 onwards.
Moreover, with the optimistic view on the recovery of MICE (Meetings, Incentive Travel, Conventions, Exhibitions) business in the UK, Maldives, and Thailand, especially SAii Laguna Phuket, this is another upside to boost up the 2022 performance.
“Amidst the most challenging environment. SHR will continue the long-term growth to continuously improve efficiency and returns of our hotel portfolio. A total budget of Bt. 2,800 million has been set aside for a three-year-plan to enhance its asset rotation strategy for existing properties and the construction of SO/Maldives, which is targeted to launch in 2023. The other earmarked budget is set for the merger and acquisition plan for new properties. We also aim to focus on being a hotel operator, either through a flagship homegrown brand or partnership with leading international brands for business expansion to gear up for accelerated growth and enhance competitiveness.” added Mr. Dirk De Cuyper.
(PR News) Klongtom Heritage is making its selling point more unique and meaningful by showing the world how valuable its underground treasure can really be. Klongtom Salt Hot Spring, a one-of-a-kind natural wonder found in Thailand’s Krabi province, contains large amounts of dissolved minerals and is believed to have plenty of healing benefits in fighting against ailments.
To build on such significant advantages, the company has determined to develop a natural health rejuvenation program backed by the knowledge of modern medicine and services of global standards, especially for health lovers and those with health-related problems. The company is also welcoming domestic and foreign investors to be part of this large-scale project worth 13.7 billion baht, which has been expected to be a new world health destination.
Mr. Wichai Poolworaluk, Chairman of Klongtom Heritage Co., Ltd., unveiled Krabi province is often known for its beautiful seas and beaches. The province becomes more famous for having Klongtom Salt Hot Spring, considered the world’s one-and-only natural underground asset. The salt hot spring, found in Krabi’s Klongtom district, is unique for having plenty of naturally dissolved minerals and comfortable water temperatures. The seawater seeps into the basement of the hot spring through the rock layers full of natural minerals. The water of the hot spring is special for having the least smell of sulfur, while unveiling only the taste of light salt unlike the strong salty taste of seawater. The major mineral contained in the hot spring is sodium chloride, while silica, potassium, and magnesium carbonate also exist in a high amount. The level of total dissolved solids (TDS) is maintained at 11,690, which is higher than the average levels of only 1,000-2,000 possessed by other hot springs.
The minerals found in Klongtom Salt Hot Spring have distinctive properties, efficient in stimulating blood circulation, lowering blood pressure, reducing inflammation of the joints, treating diabetes and skin diseases, and nourishing the nervous and digestive systems. At present, the alternative medicine industry has started to rely more on the salt hot springs as the rich sources of natural minerals to enhance the efficiency of modern medicine, backed by the knowledge and desire of physiotherapists and regenerative medicine specialists in introducing new treatment programs for patients with various types of ailments. The Klongtom Heritage project unveils the first-ever health treatment program using a salt hot spring for medical rehabilitation and healthcare, together with a comprehensive range of health and wellness services certified with globally accepted standards.
“For people in Klongtom district, using the salt hot spring was originally a traditional way of life. They soaked themselves in the water of the therapeutic hot spring whenever they became ill. Currently, a massive number of more than 100,000 people have visited the salt hot spring each year, following people’s word-of-mouth belief that the amazing underground wonder can prevent and cure diseases as well as the government’s approval for the salt hot spring to be open for public services, where both local and foreign visitors can often indulge themselves in a more private and comfortable atmosphere with standardized and well-managed services. This has led to the development of the Klongtom Heritage project, located on an approximate area of 300 rai, where a massive number of benefits derived from the salt hot spring will be used and applied in line with modern medicine, together with services of world-class standards, to introduce appropriate health rehabilitation and treatment programs for patients and those who yearn for having excellent health and balanced living as well as greater privacy and convenience in obtaining high-quality health and wellness services. Other facilities in the project are also designed with attention to detail aiming for environmental sustainability, particularly in land use, to be in harmony with the community and its people. The Klongtom Heritage project has been expected to make Krabi’s Klongtom district a globally renowned health city for both Thais and foreigners, paving the way for the province to become one of the world’s must-visit health and wellness destinations.”
The project has been initiated from the ‘Health Community’ and ‘Sustainability’ concepts, highlighted by the intention to sustainably foster good health and well-being of the society for people. The company is currently working on project planning and zoning, varying in the patient zone, the dependency and non-dependency zone, and the retirement and pre-retirement zone. The project will be divided into ten different zones including: 1) Community Market 2) Hotel 3) Town Center 4) Sports Enhancement 5) Spa Medical 6) Agriculture 7) Branded Residences 8) Resort Residences 9) Amataya Residence 10) Amataya Rehabilitation Hospital
All ten zones will be divided into six major phases of operations. The first phase, to be implemented under the name of Amataya Wellness, consists of three minor parts, including Amataya Rehabilitation Hospital, Amataya Holistic Treatment, and Amataya Residence, expected to be open for services in June 2022.
The second phase includes Community Market, Hotel, and Town Center, which will be open in 2024. The third phase or Spa Medical has been expected to be completed in 2025 while the fourth phase or Branded Residences will officially make its public debut in 2026. The fifth phase or Sports Enhancement and the sixth phase or Resort Residences will officially be completed in 2027 and 2028, respectively. In addition, Thailand has been named the host of Specialised Expo 2028 Phuket Thailand, which will be held in Phuket province in 2028. This grand health and wellness event is expected to be joined by a large number of participants from all over the world.
As the project consists of ten zones, with six phases to be completed, Klongtom Heritage is seeking potential investors and operators of both Thai and foreign nationalities who specialize in health and wellness and have similar visions to help generate greater development for the project, paving the way for this wonderland to become one of the world’s best health and wellness hubs with several interesting and fun-filled activities for everyone to explore.
“Amataya Wellness in the first phase, expected to be open by mid-2022, is considered a significant pioneering part of the Klongtom Heritage project that allows everyone to fully experience the magic of the Salt hot spring to be followed by other parts in different phases. The project will announce the opening of a new physical therapy hospital for rehabilitation and treatment of stroke patients and other health lovers, with a comprehensive range of high-quality services related to the Salt hot spring. The project also unveils nature-inspired residences developed based on the natural living concept, with a private Salt hot spring pool in every unit. We are lucky to have strategic partners, such as TRPH Hospital, Wat Phra Chetuphon (Wat Pho) Traditional Medicine and Massage School, Ishii Stroke Rehabilitation Center, and Bangkok Healthcare Service (BHS). After the project’s official opening, we believe a revolutionary image of Krabi province will help accelerate the development of the Andaman Wellness Economic Corridor (AWC) project in a more distinctive way.”
“Thailand is currently recognized as one of the world’s top five health tourism destinations and the market value of wellness tourism in the country tends to increase continuously. As the pandemic situations of COVID-19 are lessened, the government is setting its sight to focus more on promoting the expensive market, where the medical tourism and health and wellness tourism businesses have been expected to become more popular among tourists. The expenses of the two tourism groups have been estimated to cost around 80,000-100,000 baht per trip. Therefore, promoting and expanding the two tourism groups will generate more stable incomes as Thailand is poised to become one of the world’s most renowned international health and wellness hubs,” concluded Mr. Wichai.
Benefitting from Portfolio Diversification while Focusing on Energy Security and Leading the Way to Low-Carbon Society
(PR News) Bangchak Group reported its first-quarter 2022 performance, with revenues from sales and services of THB 69,055 million, EBITDA of THB 13,714 million, and net profit attributable to the parent company of THB 4,356 million, making this the first quarter to see EBITDA over THB 10,000 million, representing earnings per share of THB 3.12. The quarter recorded a Net Inventory Gain of THB 2,900 million from the management of oil reserves to stabilize energy security following the Russia-Ukraine conflict, the recording of revenue from Natural Resource Business, OKEA, and record-breaking crude run at 122.1 KBD, while addressing its energy transition through the operation of fuel pipeline and logistics businesses since 1 January 2022.
Chaiwat Kovavisarach, President and Group Chief Executive Officer, Bangchak Group revealed that the performance in the first quarter of 2022, Bangchak and its subsidiaries generated THB 69,055 million, increasing by 3% from the previous quarter, and by 67% from the same period in 2021, equivalent to an EBITDA of THB 13,714 million, increasing by 48% from the previous quarter, and by 189% from the same period in 2021, and recording a net profit attributable to the parent company of THB 4,356 million, increasing by 148% from the previous quarter, and by 91% from the same period in 202, representing earnings per share of THB 3.12.
The increased performance was, in part, the result of the change to the consolidated method for OKEA subsidiary since the second-half of 2021, and the Refinery and Trading Business Group benefitting from significant increase in global crude oil and finished products prices from tight energy supply conditions following RussianUkraine tensions, as well as demand growth following the progress of COVID-19 vaccinations and the gradual easing of social restrictions around the world. As a result, average Dubai crude oil in the first quarter increased to USD 96.21 per barrel, an increase of USD 17.95 per barrel from the previous quarter, and USD 36.00 from the same period in 2021. The Group had gradually increased its reserve inventory, resulting in a Net Inventory Gain (Gross inventory margin adjusted by crude and product price hedging contracts) of about THB 2,900 million in the first quarter.
These conditions improved operating GRM leading Bangchak Refinery to increase and maintain its highest record crude run. Simultaneously, the Natural Resources Business and New Business Development Group also benefitted from significantly higher energy prices, especially natural gas which increased 367% from 2021.
First quarter 2022 performance results for each business group, are as follow:
Refinery and Trading Business Group saw 63% performance increasfrom the previous quarter, and 108% from the same period in 2021, with an Inventory Gain of THB 3,566 million (Net Inventory Gain of THB 2,350 million), operating GRM increased to USD 6.84 per barrel, increasing by USD 3.6 per barrel from the same period in 2021, due to widening crack spreads for all products in the global market. This is especially significant for the Diesel and Dubai crack spread (GO-DB), which is Bangchak refinery’s largest product yield, prompting the refinery to increase its production to 122,100 KBD or 102% utilization rate, which also supported the expansion of Unconverted Oil (UCO) exports.
The Oil Trading Business by BCPT, improved as profit per unit for low sulfur fuel oil products group increased reflecting fuel oil demand recovery from the marine transport segment following global economic recovery. The fuel pipeline and logistics business by Bangkok Fuel Pipeline and Logistics Company Limited ( BFPL) commenced operating the fuel pipeline systems, Bangkok – Bang Pa-In, to increase revenue channels, reduce costs and losses from conventional transportation, and reduce carbon emissions into the atmosphere.
Marketing Business Group saw 338% performance increase from the previous quarter, mainly from oil price increasing at higher rates, resulting in greater Inventory Gain, and an increase in sales volume by 2% from the previous quarter, 14% from 2021, following the immunity boost from widespread COVID-19 vaccinations, and the aviation industry starting to recover as the international travel restrictions are lifted. Furthermore, although the marketing business continues to be affected by the latest net marketing margin, pressured by the global market higher cost of finished products prices, and the Company cooperating with the government to peg domestic diesel retail prices at no more than THB 30 per liter to help reduce cost of live for consumers, its costs management policies along with the promotion of lubricant sales, which have higher marketing margins, was able to increase net marketing margins by 9% from the previous quarter, despite a 22% decrease from the same period in 2021.The Company continues to emphasize the expansion of non-oil business, with Inthanin able to increase coffee sales to a record new high in March 2022.
Power Plant Business Group by BCPG Public Company Limited saw 196% performance improvement from the previous quarter, and 214% from the same period in 2021, mainly from the recognition of gains from the disposal of the whole investment in Star Energy Group Holdings Pte. Ltd. (“SEGHPL”) at THB 2,031 million, as well as higher solar irradiation, and the commercial operation (COD) of solar rooftop projects in Thailand, and the fullquarter recognition of electricity generation from Chiba 1 solar power plant in Japan. Moreover, in March, BCPG commence COD of a solar power plant in Komagane, Japan with a power purchase agreement (PPA) of 25 MW, increasing its Japanese commercial operations to 59.7 MW.
Bio- Based Products Business Group benefitted from the ongoing price increase of B100, despite remaining affected by the reduction B100 blend to peg the price of retail diesel prices in Thailand, resulting in a 35% increase in its quarterly performance, and gross margin increase by 41% from the previous quarter. It also recorded revenue from High Value Products (HVP) such as from health supplements under the “B nature+” brand though online channels, 50 Inthanin coffee outlets, as well as pharmaceutical grade alcohol hand sanitizers. During the quarter, BBGI saw selling and administrative expenses increased by 2% from the previous quarter, from the expenses related to the issuance and initial public offering (IPO) and listing on the Stock Exchange of Thailand (SET) on 17 March 2022.
Natural Resource Business Group and New Business Development recorded a 12% decrease from the previous quarter, but an increase of more than 1,000% from the same period in 2021 from the rising trend of energy prices mainly from OKEA’s performance which recorded an EBITDA increase of 401% from the same period in 2021 despite lower sales volume following no sales from Ivan Assen and scheduled maintenance of Gjøa, but supported by the increase in the average price of oil and especially natural gas, which increased 367% from 2021. Moreover, the Group changing its recording method of investment in OKEA to subsidiary which resulted in recording of performance with the consolidated method since 1 July 2021, is expected that OKEA will maintain production range of 18,500 – 20,000 boepd, including the increased ownership in Ivar Assen field from 0.554% to 2.777% since 31 March 2022.
Chaiwat added that the second quarter of 2022, oil prices will continue to be supported by extremely tight crude supplies from the Russia-Ukraine tensions. Finished product prices are supported by continuous demand recovery as countries around the world lift restriction on travel, which should be a positive factor for the Refinery and Oil Trading Business Group, and the Natural Resources Business and New Business Development Group. Furthermore, operational GRM is expected to remain at a high level which will support the refinery to maintain high crude run levels. The Marketing Business Group is expected to remain pressured by rising global market costs of finished products. The Company is closely monitoring the situation in order to respond appropriately, accelerating investments to maintain a balance between national energy security and clean energy transition, committed to being the leader of the low-carbon society, promoting ESG (economic, environmental, and corporate governance for all stakeholders.
Bangkok, Thailand – May 12, 2022 – Global businesses have been impacted by digital disruption especially over the past few years with the digital adoption rate expedited due to the COVID-19 pandemic.
Understanding of digital implementation perspectives and trends is important for companies in Thailand to gain insights on company positioning in comparison to the market.
Deloitte Thailand has been conducted a Digital Transformation survey during the past 3 years (2020-2022) with the objective to examine the attitudes towards digital transformation among companies. In 2020 and 2021, quantitative methodology was adopted with the survey questionnaires while we perceived 2022 as a critical stage of the digital transformation hence additional in-depth interviews with c-suite level respondents were applied on top of a questionnaire. The surveys emphasize on the following topics in order to draw developments of digital transformation implementation before and during the COVID-19 pandemic:
1. Exploring digital transformation implementations
2. Unlocking success in digital transformations
3. Understanding industry snapshots
After the analysis for 2022, we found that 41% of the companies perceived that digital transformation has a moderate impact for businesses. The digital transformation adopted during the COVID-19 pandemic was rather a survival mechanic in response to the situation and as a tool for future differentiation.
The rapid adoption during the early COVID-19 period with 20% companies entering ‘Becoming Digital’ phase was a reactive adoption while in 2022, 43% of companies shifted back to the ‘Doing Digital’ phase as they realized that not all technologies are applicable to the situation and are more selective in the implementation process across digital for customers, internal assets, and backend processes.
Cyber security and customer centricity are the two aspects most companies found important and prioritized as 30% of the companies have a mature digital plan, investments and innovation in place and integrate customer centricity in company DNA while 43% of the companies have a mature digital plan, investments and innovation in place and intergrade cyber security in company DNA.
In terms of technology, basic technology which are Cloud, traditional web technology and mobile application are the most popular across all sizes of companies since before the COVID-19 while data analytics, categorized as advanced technology, has gained popularity of late. The correlation between the bigger companies and the wider range of technologies invested can be found.
“Digital transformation is the key to protect your enterprise and there is no such thing as a one-size-fits-all journey to future readiness. Executives should carefully choose the one that fits their company best”, said Mr. Viney Hora, Executive Director of Deloitte Consulting.
Moreover, since 2020 human resource and digital mindset have faced challenges as in lack of internal and external expertise, immature digital culture and organization silo found in 41%, 31% and 29% of the companies respectively. It is further found that most people still perceive that digital disruption concerns the IT improvements and IT personnel only more than the overall corporate responsibility.
Narain Chutijirawong, Executive Director, Clients & Industries, Deloitte Thailand, added “Many organisations mistook digital transformation by simply doing digital things and launching new digital projects. But the pandemic shows that this is only an illusion of being digital. Critical changes are needed to the digital mindset.”
The higher digital transformation rate coupled with an immense and unforeseeable impact from the COVID-19 pandemic across all business are evident. Businesses should therefore be more vigilant about the digital transformation movement and the digital environment in the market especially during this unprecedented global event and transitional period.
(PR News) GULF reported the financial results of Q1/22 with core profit of THB 3,257 million, an increase of 36% year-on-year (YoY) and 19% quarter-on-quarter (QoQ). The growth is mainly from the profit of Gulf SRC’s (GSRC) first unit and second unit, together with higher profit from BKR2 offshore wind power project in Germany and share of profit from INTUCH.
Gulf Energy Development Plc. (GULF) reported the financial results of Q1/22 with total revenue of THB 22,453 million, an increase of 125% YoY. The growth mainly came from the revenue recognition of Gulf SRC’s (GSRC) first unit and second unit (installed power generation capacity of 1,325 MW), which began commercial operation in 2021.
Another attribution is from the higher revenue of 12 gas-fired SPPs under GMP group due to higher electricity selling price, which is in line with the higher natural gas cost, and higher volume of electricity and steam sold to the Electricity Generating Authority of Thailand (EGAT) and industrial customers, with an increase in the number of industrial customers by 34.7 MW from the automotive, chemical, electronic components, and packaging sectors.
GULF also recognized higher revenue from the 465-MW Borkum Riffgrund 2 offshore wind power project (BKR2) in Germany thanks to the improved average wind speed from 9.8 m/s in Q1/21 to 11.0 m/s in Q1/22, despite the curtailment by the German government causing the decrease in average capacity factor to 39% from 41% in Q1/21.
Nonetheless, BKR2 received full revenue compensation for the total amount of electricity that was curtailed, as if there were no curtailment. Therefore, the situation did not affect GULF’s revenue. Moreover, the share of profit from Intouch Holdings Public Company Limited (INTUCH) of THB 1,100 million also attributed to GULF’s revenue growth in Q1/22.
While the gross profit from sales in Q1/22 was recorded at THB 4,453 million, an increase of 51% YoY from THB 2,941 million in Q1/21, the gross profit margin declined to 22.1%, a decrease from 33.1% in Q1/21 due to the increased gross profit contribution from IPP power project, which has a lower gross profit margin compared to the gross profit margin of BKR2 wind farm, resulting in the lower overall gross profit margin of GULF. Additionally, in Q1/22, there was a rise in average natural gas costs by 101% YoY, from 220.17 THB/MMBTU to 441.56 THB/MMBTU, while the average Ft rate increased by 0.1671 THB/kWh (from -0.1532 THB/kWh to 0.0139 THB/kWh). However, since GULF sells 87% of its electricity to EGAT, in which the cost of natural gas is passed through to EGAT, while sales to industrial customers account for only 13% of GULF’s electricity sales, the impact was limited from the spike in natural gas costs.
In Q1/22, GULF recorded the core profit of THB 3,257 million, an increase of THB 867 million or 36% YoY mainly from the profit recognition of projects which commenced commercial operation in 2021, namely, GSRC Unit 1 and Unit 2 in March and October 2021. Moreover, the rise in core profit was also attributable to the higher profit from BKR2 and the share of profit of THB 1,100 million from INTUCH. This quarter, GULF recorded net profit attributable to the parent company, which includes the impact from FX rate, of THB 3,395 million, an increase of 108% YoY, compared to THB 1,632 million in Q1/21.
As of March 31, 2022, GULF had net interest-bearing debt to equity ratio of 1.79 times, an increase from 1.77 times at the end of 2021. This was mainly due to drawdown of loans from financial institutions for the construction of Gulf PD (GPD) IPP power plant project, with total installed power generation capacity of 2,650 MW. In February 2022, GULF issued debentures worth THB 24,000 million for business expansion and partial loan repayment.
Ms. Yupapin Wangviwat, Chief Financial Officer, revealed the company’s business direction in 2022, stating, “GULF’s current focus is on decarbonization and digitalization. For decarbonization, the company emphasizes investments in renewable energy projects in Thailand and overseas including wind power projects, solar power projects, and hydropower projects. The 2 hydropower projects, namely, Pak Lay project and Pak Beng project in Laos have entered into a Tariff MOU with EGAT in January and April this year and plan to sign a Power Purchase Agreement (PPA) with EGAT within Q2/22.
“Regarding digitalization, GULF has expanded the business into digital infrastructure and blockchain technology. In early 2022, GULF, together with AIS and Singtel, signed the Joint Development Agreement to establish a data center business in Thailand, which is currently in the process of site selection and the construction is expected to start later this year. Moreover, in April this year, Gulf Innova entered into a Shareholders’ Agreement with Binance to jointly develop a digital asset exchange business in Thailand, which is currently in the process of applying for licenses from relevant agencies. GULF also invested in a regulated digital asset exchange in the United States of America (Binance.US) and BNB, signifying our participation in the Binance ecosystem, the world’s leader in blockchain infrastructure technology. GULF regards cryptocurrencies and tokens as one of the future funding alternatives and this sector still has a lot of potential for growth in Thailand.”
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