The power company will launch “EGAT Smart Energy Solutions” at the Thailand Pavilion during energy and environment week (February 20-March 8).
Electricity Generating Authority of Thailand (EGAT) will showcase its innovations on the global stage at the ongoing World Expo 2020 Dubai in the United Arab Emirates. The power company will launch “EGAT Smart Energy Solutions” at the Thailand Pavilion during energy and environment week (February 20-March 8).
Exhibits and videos will tell the story of EGAT’s push for clean energy. These include Renewable Energy Certificates (REC) for rights to produce electricity from renewable sources, the ERC Sandbox to test innovations, EGAT’s Smart Energy Solution ENZY, and the world’s largest hybrid floating photovoltaic project – a hybrid 45MW solar-hydro power plant at the Sirindhorn Dam. EGAT said it is confident that participation in the World Expo will boost business opportunities for EGAT Group and Thailand.
Never before have businesses been confronting with an environmental issue of this magnitude. Where are the challenges and opportunities? What innovations will be the answer for sustainable growth?
Never before have businesses been confronting with an environmental issue of this magnitude. Where are the challenges and opportunities? What innovations will be the answer for sustainable growth?
Krungthep Turakij newspaper in collaboration with Dow Thailand Group (Dow) on the occasion of the 125th anniversary of the founding of Dow will be organizing a seminar on the “Fast Track to the Net Zero” on Friday, March 11, 2022 from 13:00 – 17:30 hrs.
The idea is to present the challenges and business opportunities arising from the Net Zero emissions target. Led by both local and international experts joining the panel discussion, participants will be introduced innovative solutions that not only enable business growth while reducing carbon emission but also achieve the sustainability goals more efficiently and promptly.
Joining the panel discussion:
• Khun Auramon Supthaweethum, Director General, Department of Trade Negotiations
• Assoc. Prof. Dr. Singh Intrachooto, Chief Advisor to MQDC’s Research & Innovation for Sustainability Center (RISC)
• Dr. Nuwong Chollacoop, Committee, Electric Vehicle Association of Thailand
• Khun Chivanon Piyaphitakskul, Marketing Manager, Kantar, Thailand and Malaysia, Worldpanel Division
• Mr. Loganathan Ravisanker, Associate Technology and Business Development Director, Dow Southeast Asia
• Mr. Nicholas Kolesch, Vice President of Projects Alliance to End Plastic Waste
• and a Team of innovation experts from Dow group.
Marriott International Inc on Tuesday announced plans to expand its portfolio across Asia Pacific, aiming to open its 1,000th property in the region by late 2022.
Marriott International Inc on Tuesday announced plans to expand its portfolio across Asia Pacific, aiming to open its 1,000th property in the region by late 2022.
The company said in a press statement that it expects to open nearly 100 properties in the region this year.
Craig S Smith, Group President, International for Marriott International, said the firm is signing an average two new development deals per week, with deals clinched in 13 different markets across the region.
“This year, we expect to continue to drive demand and growth, which is a testament to our talented teams committed to operational excellence, and the relationships we have with the customers we’re privileged to serve and the developers, owners, franchisees and partners we’re honoured to do business with,” Smith said.
Greater China remains an engine for Marriot International’s growth, as it accounts for more than half of the company’s anticipated luxury openings in Asia Pacific in 2022.
Ritz-Carlton Reserve anticipates expanding its highly curated portfolio in Greater China, debuting its first rare estate in the historic Jiuzhaigou valley later this year. Additional expected luxury openings in 2022 include JW Marriott Hotel Changsha and W Macau-Studio City, the company said.
Research by the World Travel & Tourism Council (WTTC) suggests that leisure travel demand is now booming at an accelerating rate. Marrriot said it was poised to strengthen its presence across several leisure destinations as leisure demand continues to outpace business travel this year. In South Korea, the company expects to bring its JW Marriott brand to Jeju with the opening of JW Marriott Jeju Resort & Spa in May 2022. Meanwhile, the scheduled opening of W Sydney in late 2022 will mark the third W hotel in Australia.
With wellness and well-being remaining a continued priority for many travellers, the company’s leading wellness brand, Westin Hotels & Resorts, is due to celebrate two new debuts in Japan’s Yokohama and Vietnam’s Cam Ranh in 2022.
Marriott’s select service portfolio is driving momentum for growth, providing a wide range of amenities and offerings across well-established brands such as Courtyard by Marriott, Fairfield by Marriott, Four Points by Sheraton, AC Hotels and Moxy Hotels. In Greater China, the openings of select service hotels will further expand consumers’ travel choices, bringing guests a diverse range of experiences in emerging Chinese destinations. Four Points by Sheraton expects to continue its growth with five planned openings throughout the year, while Moxy Hotels anticipates continuing to share its playful spirit in destinations such as Suzhou and Xi’an.
Outside of Greater China, the company expects to debut its AC Hotels brand in South Korea with AC Hotel Seoul Gangnam and in Australia with AC Hotel Melbourne Southbank. In Japan, Fairfield by Marriott expects to continue to strengthen its presence with six new properties planned to open across Nara, Hokkaido and Hyogo along “Michi-no-Eki” roadside stations aimed at revitalising the country’s local sightseeing spots and well-hidden rural destinations, the press statement said.
U City completed a turnaround to record a net profit of 92 million baht in 2021, versus a net loss of 6.61 billion baht in 2020.
UCity completed a turnaround to record a net profit of 92 million baht in 2021, versus a net loss of 6.61 billion baht in 2020.
The real estate firm attributed the swing in performance to a rapid change of direction approved by its board and shareholders last year.
U City said the company was struggling amid the Covid-19 pandemic 12 months ago due to its heavy reliance on the hospitality business.
Revenues fell 90 per cent from their peak after closure of almost all of its 73 hotels due to government restrictions and the travel ban.
But the firm said its financial performance moved into the green after shareholder decisions to sell off its hospitality and other real estate, and to shore up its balance sheet with a capital increase.
U City said it signed an agreement on December 15 to also dispose of its European hotel assets.
It has entered into agreements to sell about 6.3 billion baht of real estate assets. The firm said it will dispose of its remaining 26-billion-baht real estate portfolio over the next three years.
In parallel, it has accelerated its move into financial services through the acquisition of Advance Life Assurance Plc (A Life) as well as significant stakes in Singer Thailand Plc (Singer) and Jay Mart Plc (JMart), as it moves to integrate financial services to the heart of BTS Group’s “3M” Strategy.
“The Company’s turnaround has been well executed so far, and we are delighted with the impact to our financial results. We expect to see more transactions that will accelerate our expansion into financial services within this year,” said Soraya Satiangoset, CFO and acting CEO of U City.
In 2021, U City recorded revenue of 6.57 billion baht, up 16.3 per cent year on year and helped by a gain from the investment in JMart.
The value of JMart and Singer shares had risen 64 per cent and 32 per cent respectively after U City’s investment, said the company, enabling U City to capture the value from major shareholder BTS Group’s MATCH strategy.
U-P, the preference shares in U City that come with dividends, were trading at 1.06 baht as of February 14.
Thailand’s largest food company has joined hands with Kasetsart University (KU) to develop cannabis strains and other food-related innovations.
Thailand’s largest food company has joined hands with Kasetsart University (KU) to develop cannabis strains and other food-related innovations.
Charoen Pokphand Foods (CP Foods) and Charoen Pokphand Produce (CPP) said their collaboration with KU will begin with two pilot research projects – on new cannabis varieties and food for athletes.
The collaboration’s goal is to boost research in food and agriculture and develop the country’s higher education in three areas, namely curriculum, research, and capacity building for students.
KU students will receive hands-on teaching from CP Foods experts to build quality graduates that meet global market demands, the company said.
CP Foods said it will also fund research on cannabis strains for cannabis-based products suited to the Thai market in the hope of creating a new cash crop for farmers.
Meanwhile, KU, CP Foods and CPP will work together on multiple research projects including nutrition for athletes, food for the elderly, alternative proteins, probiotics and local ingredients.
CP Foods CEO Prasit Boondoungprasert said the partnership with KU, a leading university in the field of agriculture and food science, will increase competitiveness of Thai food products.
Tipco is introducing two new fruit juice product lines of functional juice and herbal functional juice.
Tipco, Thailand’s largest juice manufacturer, has pledged to continue building on its expertise as a leader in the premium fruit juice market after launching two new product lines for health lovers. With the “immune-boosting” concept, the company is ready to keep pace with the fast-growing healthy drinks market, expecting to expand its customer base to working-age people and teenagers in 2022. Jakapob Chimamphan, marketing director of Tipco F&B Co Ltd under Tipco Foods PCL, said the prolonged Covid-19 pandemic has made consumers more conscious of their health. Consumers are looking for products that help boost their immunity while cultivating their inner strength, he said. In particular, the growing demand for the so-called “functional drink” and herbal drink has prompted several beverage brands in Thailand to launch their products. As a consequence, the functional drinks market has seen strong growth despite uncertain economic prospects. The market value of functional drinks grew by 20.5 per cent despite strict lockdown measures in Thailand, according to Kantar’s market research data as of June 2021.
Meanwhile, market research firm Mintel reported that 47 per cent of Thai consumers favoured food and beverages that help strengthen their immune systems. This undoubtedly means the functional drinks market has the potential for further growth. With strong demand in the healthy drinks market, Tipco is introducing two new fruit juice product lines of functional juice and herbal functional juice. For functional juice, the company offers four flavours of fruit juice priced at Bt25 for a 320ml bottle — Inno Drink Max Protex, Inno Drink Relax, Inno Drink Digest and Inno Drink Beauty.
The herbal functional juice product line has two flavours at the price of Bt25 for a 320ml bottle — Krachaikhao (finger root) and Cur-min (turmeric). Jakapob said Tipco will expand its customer base to working-age people and teenagers, as these groups have high purchasing power.
“The new product lines have been launched with the concepts of ‘functional drink’ and ‘herbal drink’. Later, there will be a broader selection of consumers’ favourite beverages such as flavoured soda and cannabis-infused drinks,” he added.
The International Chanthaburi Gems and Jewelry Festival 2021-2022 held for the third time at the Chanthaburi Gems and Jewelry Center, KP Jewelery Center and Srichan Gems Market Road in Chanthaburi Province was successful with an instant purchase of Bt65 million and over 11,480 visitors both Thais and foreigners as well as cashflow for the tourism and gem and jewelry industry.
Sumed Prasongpongchai, director of the Gem and Jewelry Institute of Thailand (GIT), revealed that, although the Covid-19 outbreak continues, the Thai gem and jewelry industry can adapt to the situation. It can be seen from the export sales in 2021, that gems and jewelry exports are one of an important industry of the country, ranking fifth place on the export value and generating Bt194,706.08-million income.”
The aim of this third international gems and jewelry festival was reinforcing the image of Chanthaburi as the “City of Gems”, the global center of gems and jewelry trade, to stimulate the economy, to build confidence in the gem trade and to be a platform for entrepreneurs in this province and from all over the country to present their gems and jewelry products to lovers and major buyers, both domestic and international, after a 2-year hiatus from organizing gems and jewelry exhibitions.
In addition, Business Matching were also organised with the support of the Thailand Convention and Exhibition Bureau (TCEB) and the Department of International Trade Promotion, Ministry of Commerce, inviting target buyers both domestically and internationally, including potential representative from foreign chambers of commerce in Thailand, to join the “hybrid” business negotiation both onsite at the event and Online Business Matching (OBM), creating a total trading value from foreign importers of Bt248.38 million – Bt83.38 million from OBM and Bt165 million from the event.
This year, the trading value increased 205% and also gained over Bt200 million for the hospitality and tourism industry during the event period, more than in 2019 with Bt21.20 million.
This huge success showed the strength of the Thai gem and jewelry industry that was widely recognised around the world.
In this regard, GIT plans to develop Thai gem and jewelry industry with more than one million personnel towards a sustainable prosperity.
The 53 per cent increase in global equity returns in 2021 is expected to decelerate by 7-8 per cent between 2022-23, a virtual seminar “Citigold Annual Outlook 2022”, organised by Citibank Thailand on Thursday, said while revealing market and investment predictions for 2022.
Ken Peng, head of Investment Strategy, Citi Global Wealth for the Asia Pacific, added that the central bank in many developed countries is implementing quantitative easing, including the US Federal Reserve.
Central banks also plan to allow inflation rates to rise to mid-level in the long term. The US economy is expected to grow at 3.5 per cent as service industries experience positive recovery and manufacturing industries still experience tailwind impact.
Meanwhile, China’s economy is expected to grow by 4.5 per cent with a prediction that interest rates will be lowered because of the slowdown of the property industry and policies enacted in various industries that have impacted exports to China and commodity goods, analysts told the seminar.
For 10-year US treasuries, an increase in yield is expected, rising to 2.1 per cent by the end of 2022.
Additionally, Citi analysts predict global equity returns in 2022 to be at 8 per cent and global fixed income yields at minus 1 to zero per cent.
However, there are risk factors that can pressure the market, such as geopolitics turmoil around the world, including the US-China or the US-Russia relations, the seminar heard.
Therefore, investors should keep an eye on the global environment to diversify risk and optimise their portfolios in the long term.
Although the investment world still faces many challenges, Citi analysts are optimistic about cyclical industries that have benefited from the changing environment.
They also see the opportunity to drive sustainable returns and leverage the capital market, to increase returns from holding cash or fixed-income investments.
They recommend diversifying in various industries which can be categorised into three themes, which are:
Long-term leaders – Switch from rebound investing to sustain returns. Although there were industries with high yields in 2021, they found that industries that can deliver highest and most consistent returns are IT technology, healthcare and consumer staples.
Beat the cash thief – Beat holding cash with investments in fixed income that deliver positive returns as Covid-19 has impacted many companies that need to manage their debt. It is expected that the fixed income segment to provide the best returns are the emerging market bonds in Asia, high yield bonds and US treasuries.
Unstoppable trends – Long-term economic trends that are expected to grow and change the world over many years, including investments in clean energy where public sectors are putting greater focus on ‘greening the world’, technology and digitisation in companies in the US or China, the development of Asia along with the healthcare segment where it has been proven from increasing longevity, Ken concluded.
Don Charnsupharindr, retail banking head at Citi Thailand, commented: “In 2022, Citibank is prepared to offer new funds to our clients, which will lead to growth in investment. Our AUM [assets under management] in the previous year has grown to our satisfaction, and there was growth across Citigold and Citi Priority segment, which is well-equipped to offer investment opportunities around the globe, providing over 200 funds in collaboration with five domestic asset managers and 12 global asset managers that carry products in diverse asset classes and markets.”
Don added, “At Citigold, relationship managers are proactive and attentive, providing recommendations and servicing for all transactions via telephone or the Citi Mobile application where Citigold customers can buy and sell funds themselves and track movements in their portfolio. Customers can also transfer funds via Promptpay to various banks or transfer to international accounts with ease, as the service is available 24 hours.”
The entry of Food Factor’s food business into the Jakaverse is forecast to boost global awareness of Singha’s Thai restaurants as the platform will be available worldwide.
Singha is jumping into the Metaverse via the Jakaverse platform, which will deliver seamless brand engagement for restaurants under the Food Factor group, as well as new and exciting experiences for consumers. Jakaverse, the first virtual world developed by Thai and foreign start-ups, will be officially unveiled in the US soon before being made available to the public, with the aim of becoming the industry’s latest unicorn, said Piti Bhirombhakdi, senior executive vice president of Boonrawd Brewery Co Ltd, the maker of Singha beer.
An area within the platform will be utilised to drive business results with solutions like product marketing, restaurants, and lifestyle events to create marketing experiences such as food festivals, music shows, and athletic competitions – all inside the Jakaverse. Brands entering the Jakaverse include Santafe, Santafe Easy, EST.33, Farm Design, and cloud kitchens like Grain which serves Hot Chic Buns, Holy Kao. “For the past 89 years, Singha has been determined to deliver the best products and services to the public. As the world changes due to technological innovations, the Metaverse, which combines the real and virtual world, presents an abundance of economic opportunities, including business and marketing,” Piti said.
“This huge change has driven Singha to adapt, one of our success factors for sustainable growth. Entering the Metaverse of the world entertainment complex will drive our business forward to become future-ready. It will also serve as new ways to connect with our consumers in the constantly changing environment.” The entry of Food Factor’s food business into the Jakaverse is forecast to boost global awareness of Singha’s Thai restaurants as the platform will be available worldwide. Its strength lies in providing a complete entertainment complex ecosystem with different cities for leisure, education, shopping malls, and more than 100 games spanning 22 genres for all genders and ages.
BMW Group Thailand marks its continued leadership in the premier car segment for two years running by renewing its focus on electric vehicles in Thailand. It is also introducing 10 models of BMW, MINI and BMW Motorrad, with the first-ever purely electric Gran Coupe – the all-new BMW i4.
BMW and MINI won the biggest share of the premium segment with 45.5 per cent in 2021, up from 44.6 per cent the year before. Meanwhile, MINI Electric enjoyed a growth rate of 263 per cent year on year.
“As we are entering a new era of mobility, we remain fully committed to our goal of bringing sheer driving pleasure, cutting-edge technologies, and the power of choice to our customers. This also resulted in hitting the highest record of customer satisfaction as measured via the Net Promoter Score [NPS Score] in terms of sales and services. With a clear goal for the future, we aim to blaze the way for electric mobility, to offer the best experiences for all motorists, including ICE, PHEV and especially BEV users as we move into 2022,” Alexander Baraka, president and CEO of BMW Group Thailand, said.
Erik Ruge, managing director of BMW Group Manufacturing Thailand, added: “2021 was the most successful year ever with a total production of 33,428 units for both BMW and BMW Motorrad. The total production has increased 17.8 per cent, while production for export has increased 11.6 per cent. We are also committed to sustainability through zero-waste-to-landfill and carbon-neutral. For the production part, we have been able to reduce average waste to 35.6 per cent per model with the accumulated waste from recycled and reused 27,208 tonnes since 2014.”
Capturing No 1 spot with ChargeNow
BMW Group electrified vehicles are ranked No 1 in Thailand’s premium electrified segment with a 32.9 per cent segment share. The company has been strongly focused on the sustainable future of mobility in Thailand and is offering a range of electrified vehicles in both plug-in hybrid and all-electric configurations to Thai motorists. BMW Group Thailand has also been collaborating with partners in expanding ChargeNow public charging stations for electric vehicles since 2017 to sustainably drive the adoption of electric mobility in Thailand.
Currently, 130 public charging outlets have been installed in 48 locations nationwide, while 183 charging outlets have been installed at BMW and MINI authorised dealers and the national sales company (NSC) across the country. All owners of plug-in hybrids and battery electric vehicles can access ChargeNow charging stations under the BMW and MINI network. Furthermore, approximately 2,000 BMW & MINI Wallboxes have been delivered to customers nationwide.
In addition, through collaboration with the Electricity Generating Authority of Thailand and EVolt Technology, customers can now access charging stations with more than 300 chargers. When combined with chargers available through the ChargeNow programme, BMW and MINI authorised dealers, and partners, BMW and MINI customers have access to more than 600 charging points nationwide.
Within the second quarter of 2022, owners of BMW and MINI electric vehicles can access the service via the EVolt application without using ChargeNow cards.
Outside of Greater China, the company expects to debut its AC Hotels brand in South Korea with AC Hotel Seoul Gangnam and in Australia with AC Hotel Melbourne Southbank. In Japan, Fairfield by Marriott expects to continue to strengthen its presence with six new properties planned to open across Nara, Hokkaido and Hyogo along “Michi-no-Eki” roadside stations aimed at revitalising the country’s local sightseeing spots and well-hidden rural destinations, the press statement said.
CP Foods CEO Prasit Boondoungprasert said the partnership with KU, a leading university in the field of agriculture and food science, will increase competitiveness of Thai food products.
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