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https://www.nationthailand.com/pr-news/business/40009268

New Thai website enables customers to search for and book stays at Marriott Bonvoy’s portfolio of hotels and resorts all around the world – including many desirable domestic destinations

Marriott Bonvoy is rolling out the welcome mat for Thai guests by offering a dedicated website and booking platform that allows travelers to make reservations and pay for their stays, all in their own language.

With its spectacular scenery and captivating culture, Thailand has always been a popular holiday destination for international visitors. In recent years however, domestic travel has also become a key source of business for Marriott’s hotels and resorts within the Kingdom. This trend has accelerated in the last 18 months, as border restrictions led many Thai nationals to explore their home country.

With 46 hotels and resorts now operating in Thailand and more than 30 in the pipeline, covering many of the country’s most desirable destinations, such as Bangkok, Phuket, Koh Samui, Pattaya, Hua Hin, Chiang Mai and many more, Marriott provides the ideal option for Thai couples and families seeking stays that blend the warmth and charm of Thai hospitality with world-class facilities and services.

The new Thai online service will not only allow Marriott’s hotels and resorts to book with confidence in Thailand however; it will offer access to all 7,900 Marriott properties all around the world! Guests will be guided through the entire process, from picking their perfect property and selecting their room, all the way through to confirmation and payment, all in Thai. This will help to boost confidence among Thai customers when they plan important vacations and celebrations in Thailand and worldwide.

MARRIOTT BONVOY SERVES THAI TRAVELERS WITH DEDICATED LOCAL LANGUAGE WEBSITE

“Being a Thai GM working in Thailand, it is always an honor and a privilege to take care of our Thai guests. The creation of a Thai language website is a big step forward for us, as we strive to create a more personalized approach to hospitality. This move coincides with the government’s third stimulus package and I look forward to welcoming even more Thai customers to our hotel in future,” Aekphon Phothiphrom, General Manager of Le Meridien Chiang Rai.

MARRIOTT BONVOY SERVES THAI TRAVELERS WITH DEDICATED LOCAL LANGUAGE WEBSITE

“In the last few years, we have experienced a sharp rise the number of Thai guests staying with us. The closure of international borders allowed many Thai nationals to rediscover the wonders of their own country. We love catering to our Thai customers and this new website will enhance our domestic business and make it even easier for local guests to travel anywhere in the world,” Rattapol Ratthaphothiwat, General Manager of Renaissance Koh Samui Resort & Spa

To discover Marriott International’s new Thai website, please visit https://www.marriott.com/th

Published : November 25, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40009262

GPC International Terminal Ltd. (GPC) has signed a public-private partnership (PPP) contract with the Port Authority of Thailand (PAT) to develop and operate the Laem Chabang Port Phase 3, Terminal F project in Chonburi province.

GPC International Terminal Ltd. (GPC) has signed a public-private partnership (PPP) contract with the Port Authority of Thailand (PAT) to develop and operate the Laem Chabang Port Phase 3, Terminal F project in Chonburi province. The investment value in terms of the berth structure development is 30,871 million baht. This joint endeavor aims to push the Laem Chabang Port towards the gateway of trade and investment, which will potentially drive Thailand towards becoming a regional hub and increase the country’s competitive edge. The port is expected to open for commercial operations by 2025.

GPC is a joint venture between Gulf Energy Development plc (GULF), PTT Tank Terminal Company Limited (PTT TANK) and CHEC OVERSEA INFRASTRUCTURE HOLDING PTE. LTD. (CHEC OVERSEA) where GULF holds a 40% stake, while PPT TANK and CHEC OVERSEA hold 30% of the shares respectively.

Mr. Anutin Charnvirakul, Deputy Prime Minister and Minister of Public Health, presided over the signing ceremony and gave congratulations on the signing: “The Laem Chabang Port Phase 3, Terminal F project is a significant infrastructure project of the Eastern Economic Corridor (EEC) development plan. It will boost the economy in a move to support the growth of future international sea freight as well as improve the well-being of the people following the government’s commitment as the development promotes the value chain and multimodal transport management to increase efficiency and reduce shipping costs. This will develop and expand the area behind the Laem Chabang Port to its fullest potential.”

Vice Admiral Yutthana Mokkhao, Acting Director and Deputy Director, Financial Management and Corporate Strategy, PAT, said: “The Laem Chabang Port Phase 3 can accommodate the world’s largest cargo ships. It is also equipped with cutting-edge technology and automation. There will also be efficient logistics network integration between the port, road, rail and seas. It aims to be a green port, which takes into account the environment and local people’s quality of life, and strides towards its goal of becoming a world-class port.

GPC Consortium signs PPP contract for Laem Chabang Port Phase III ProjectMr. Ratthaphol Cheunsomchit, Deputy Chief Executive Officer, GULF, stated on behalf of GPC: “GPC is honored to collaborate with the government under this PPP. The GPC consortium is ready to leverage our expertise and bring together each partner’s strengths. GULF will use accumulated experience in developing and managing large-scale infrastructure projects in Thailand and overseas to develop the port. PTT TANK has extensive industry experience in port management, warehouse management and liquefied gas handling. CHEC OVERSEA, a subsidiary of China Harbour Engineering Company Limited, has a proven track record of expertise in construction, infrastructure development and leading container terminal projects worldwide. Following the signing, the design work will begin in parallel with the preparation of the Environmental Impact Assessment (EHIA) report to move forward. We are more than ready to cooperate with the government in pushing this port to become a strategic regional logistics hub that will eventually further support other relevant mega projects of the Ministry of Transport.”

For the development of the Laem Chabang Port Phase 3, PAT will be in charge of sea reclamation while GPC will be responsible for the design, construction, and operation and maintenance (O&M) services for F1 and F2 container berths to accommodate container throughput and implement automation technology for the operation of the project. The port can handle a container throughput capacity of 4 million TEU/year. GPC will receive remuneration as income from port operations such as berth hire, wharf handling charges, container wharfage and other related fees according to the scope and conditions of the 35-year PPP contract. Construction will begin on the F1 container berth in 2023 and commercial operations are scheduled for 2025 while construction will begin on the F2 container berth in 2027 and scheduled for commercial operations by 2029.

Published : November 25, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40009204

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, fully migrated all of Alibaba Group’s systems and operations onto the cloud ahead of the world’s largest shopping festival.

-World’s largest global shopping festival running 100% on cloud for the first time

– Computing resources reduced by half for every 10,000 transactions compared to last year

– Over 26,000 tons of carbon dioxide emission eliminated through use of renewable energy

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, fully migrated all of Alibaba Group’s systems and operations onto the cloud ahead of the world’s largest shopping festival. Use of 100% cloud-native technologies during the 11.11 Global Shopping Festival reduced computing resources by 50% for every 10,000 transactions compared to last year. Computing efficiency was also greatly improved with a boost of 20% in technology deployment efficiency and 30% in CPU resource utilization.

“We are committed to offering ‘green computing power’ to meet the exponential demand from our customers for a low-carbon digital transition, and to drive the sustainable and inclusive development of our society,” said Li Cheng, Chief Technology Officer, Alibaba Group. “Alibaba Group’s 11.11 Global Shopping Festival is an important opportunity to continue pushing our boundaries with green technology and smart innovation. We’re excited to serve more customers with these proven technologies across all industries and sectors.”

Levering cloud innovations to enhance sustainable shopping

Alibaba Cloud used green technologies such as liquid cooling and wind energy at its hyper-scale data centers to make 11.11 a more sustainable shopping festival. This year, the use of renewable energy in Alibaba’s Zhangbei County data center helped to reduce carbon emissions by over 26,000 tons, equivalent to the amount of CO2 absorbed by one million trees annually.

The scaled deployment of Hanguang 800, the first AI inference chip launched by Alibaba Cloud in 2019, significantly improved efficiency of product search and recommendation during the 11.11 Global Shopping Festival. The algorithm performance for the search function on Taobao marketplace improved by 200%, while energy costs were reduced by 58%.

Alibaba Cloud’s proprietary large-scale AI model M6 also made its debut during this year’s festival, which improved AI-intensive operations such as AI-powered apparel design. By drastically shortening the time required to design new clothes from multiple months to less than two weeks, M6 drives efficiency improvements in the production chain. It is estimated that M6-enabled designs, along with incorporating use of more eco-friendly materials, can reduce the carbon footprint of T-shirt manufacturing by more than 30%.

Alibaba Cloud Reveals Innovations for a Sustainable and Inclusive 11.11 Global Shopping Festival

Make shopping accessible for everyone

Alibaba Cloud aims to help merchants make online shopping more engaging and inclusive for customers through new innovations and proven technologies.

The enhanced speech recognition technology developed by Alibaba DAMO Academy was deployed as part of the new ‘senior mode’ on the Taobao app, which aims to make it easier for China’s growing elderly population to adapt to digital life. Leveraging DAMO’s proprietary algorithms for recognizing speech, a smart voice assistant called Taoxiaobao was embedded into Taobao “senior mode” to support voice search. The voice assistant can recognize Chinese-language commands in a wide range of local accents with a high accuracy rate, even against complex background noises. The voice assistant eliminates the need for users to enter text manually, addressing a pain point for elderly users who struggle to type on mobile devices.

Alibaba Cloud Reveals Innovations for a Sustainable and Inclusive 11.11 Global Shopping FestivalA new “image search for medicine” feature that benefits the elderly was also introduced on the Taobao app during this year’s festival. Users can search for over-the-counter medicine by taking or scanning a photo of packaging or container using Pailitao, which is the image search engine of Taobao app. Using photographic-based search eliminates the need to type in long or difficult medicine names for the elderly. The search results will return information about the medicine and its functions. This large-scale product searching was built on multi-modal AI technology that integrates proprietary Optical Character Recognition (OCR), which recognizes text printed on images and enables a higher degree of accuracy when processing medicine images. Taobao first incorporated OCR technology in 2018, processing millions of images to provide visually impaired users with better shopping experiences.

Putting innovation into application

Alibaba’s last-mile logistics vehicle “Xiaomanlv” was deployed at over 200 campuses across China to support package delivery during this year’s festival. Over 1 million packages were delivered by 350 Xiaomanlv vehicles during the festival’s initial 10-day period, surpassing the entire package delivery volume of the 12 months since the logistics robot was launched in September 2020.

Tools developed by DAMO translated tens of millions of pieces of product information to support cross-border commerce during the festival. At the same time, Alibaba’s digital collaboration platform DingTalk processed 606,900 messages per second during peak time during this year’s event, enabling instant and smooth communication for users on more than 30 apps across Alibaba’s ecosystem.

Alibaba Cloud Reveals Innovations for a Sustainable and Inclusive 11.11 Global Shopping Festival

About Alibaba Cloud

Established in 2009, Alibaba Cloud (www.alibabacloud.com) is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and IoT services. Alibaba Cloud is China’s leading provider of public cloud services by revenue in 2019, including PaaS and IaaS services, according to IDC. Alibaba Group is the world’s third leading and Asia Pacific’s leading IaaS provider by revenue in 2020 in U.S. dollars, according to Gartner’s April 2021 report.

Media contacts

Gabbie Fu

Alibaba Group

funi.fn@alibaba-inc.com

Claire Mo

Alibaba Group

mopian.mp@alibaba-inc.com

Napa S.

FAQ Co., Ltd.

+66 81 867 2241, napa@pc-a.co.th

Published : November 24, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40009203

Boonrawd Brewery wins two regional awards, HR Asia Best Companies to Work for in Asia 2021 and We Care: HR Asia Most Caring Companies Awards 2021 from HR Asia magazine, one of the most esteemed Human Resources management magazines in Asia.

Boonrawd Brewery wins two regional awards, HR Asia Best Companies to Work for in Asia 2021 and We Care: HR Asia Most Caring Companies Awards 2021 from HR Asia magazine, one of the most esteemed Human Resources management magazines in Asia.

The Best Companies to Work for in Asia 2021 is awarded to the best organizations in Asia, judging by the great internal management which involves employee engagement, care, and working environment, as well as fostering teamwork culture with over 269 Thai organizations who entered the competition. Another award that Boonrawd won is the We Care: HR Asia Most Caring Companies Awards 2021 which is for the best companies who treated their employees well, especially during the COVID-19 pandemic which Boonrawd Brewery Co., Ltd., looked after its employees and while gaving back to the society as well.

‘Human’ is one of the success indicators of driving an organization, having a great Human Resources management, both in terms of team building and creating a satisfying work environment, will realize all the potential each employee has and let them work happily and efficiently with reasonable pay, all of the above are the qualities which great organizations possess.

Mr. Sunit Scott, Head of Organization Capability of Boonrawd Brewery Co., Ltd., reveals that Boonrawd has always stood strongly with the Thai society for so long. One of the key success factors which the company really emphasizes on is the development and the caring of its employees, both in terms of working and living, as employees are what drives the company sustainably. Creating progression in workplace, along with great working environment will deliver better life quality to all employees. What’s also important is that every employee has a role in giving back to the society which is a focus from all management generation and has been one of the company’s core policies since day one.

Boonrawd wins two HR ASIA awards as the best company to work for through peoples culture and social responsibilityWe believe that great organizations delivering the best products and services to their customers will need to start creating happiness and good quality of life within its organization. Both awards which we had won from HR Asia this year is a testament of our caring culture which has been done continuously and the recognitions have made Boonrawd Brewery one of the leading Asian companies that people would like to work with.

Throughout over the past 88 years, Boonrawd Brewery Co., Ltd., has created an organization culture in Human Resources called the “SINGHA WAY” which is the company’s DNA that’s been passed on from generations and instilled from top to bottom. This will let all employees within the organization work collectively, effectively, and happily while also driving the company’s growth sustainably. The belief has 4 core pillars which are:

Family – The way we manage and how we live together in the workplace. Everyone is a part of this one big family either you are an employee, a partner, a distributor, or our consumer.

Boonrawd wins two HR ASIA awards as the best company to work for through peoples culture and social responsibility

Courage – Allowing employees to think, act, decide with courage and stand up for what they this is right to make the change or be the best.

Premium Quality – Creating the best standard for delivering the best products and services to our consumers.

Happiness – Passing on the happiness to everyone, employees, partners, and consumers like they are a part of our family.

The SINGHA WAY is a mantra which we held on to for a very long time. Apart from all the policies which helped drive the organization to advance continuously, the internal strength will become another force which lets us help the community and the society. We believe that the company’s strength will be built on the foundation of a strong society, the stronger the society is, the stronger the company will be.

Published : November 24, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40009200

“Teck Heng Yoo” or “Prosperity from Charity” has been a DNA of Osotspa since the Company was established.

“Teck Heng Yoo” or “Prosperity from Charity” has been a DNA of Osotspa since the Company was established. Osotspa has been doing business along with giving back to the society, especially by helping the disabled and the vulnerable groups with the concept “teaching a man to fish to feed him for a lifetime” or providing them with career supports to give them a sustainable future.

On the occasion of the 120th anniversary, Osotspa initiated the “Osotspa…Life’s Better” project with an aim to help the vulnerable groups in 2011.

Later in 2017, the project has been further developed to the “Life must go on” project that provides career supports for people with disabilities according to the Section 35 of the law on promotion and development of people with disabilities. The project focuses on building physical strengths through physically rejuvenating and developing potential; empowering the spirit through home renovations that help with daily routine which return their confidence; and enhancing life through vocational training as well as equipment supports for those who have skill but have no funds. The career supports include bean sprout farming, mushroom farming, weaving baskets, selling food, hair salon, and electrical appliance repair to give them the power to move forward.

From 130 Years of Giving… to Osotspa ’s Ambition to be Power to Enhance Life of ThaisIn 2019, Osotspa has delivered additional supports, beyond legal requirements, to the disabled. The project peculiarly empowers those who had been breadwinners before becoming disabled after serious accidents or illness to be able to work, earn a living and support their families again.

While running the project, Osotspa has accumulated knowledge that leads to the setup of collaborative network among various organizations, both public and private sectors, such as Ministry of Labor, Ministry of Social Development and Human Security, Department of Employment, local government agents, and Department of Empowerment of Persons with Disabilities. Osotspa also develops the new model that enhances the disabled in the project, including building a community that allows them to assist each other, share knowledge and exchange distribution channels.

From 130 Years of Giving… to Osotspa ’s Ambition to be Power to Enhance Life of ThaisBesides educating them about marketing and sales promotion, Osotspa starts building brands for their products, namely the brand ‘Kin Dee’ for organic agricultural products, ‘Handy’ for basketry products and ‘Yoo Dee’ for wooden furniture products. Furthermore, it is delighted to see the disabled in the project have been changed from a receiver to a giver, passing the opportunities they have received to others, including establishing a learning center for people with disabilities by the disabled, to share their knowledge and skills to the new members and those who are interested.

In 2021, Osotspa marks its 130th anniversary by achieving its goal of assisting 130 people with disabilities. In addition, it has also created a page “Kin Dee, Yoo Dee, Handy” to gain more exposure via the online market.

Osotspa is proud to deliver quality products to Thais, be a part of their life and stay side by side with them for 130 years. Osotspa continue to adhere to the above ambitions as we are committed to being the power to enhance life and to growing alongside Thai people.

Published : November 24, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40009162

B.Grimm Power PCL (BGRIM) has won five prestigious Asian Excellence Awards 2021 from the Corporate Governance Asia, Asias leading investment and governance magazine.

B.Grimm Power PCL (BGRIM) has won five prestigious Asian Excellence Awards 2021 from the Corporate Governance Asia, Asia’s leading investment and governance magazine.

The top accolades underscore BGRIM’s commitment to conducting its business with economic, social and environmental responsibility based on the principles of good corporate governance under the vision of ‘Empowering the World Compassionately.’

The company aims to create value for the society in the form of sustainable utility solution provider by producing high quality energy and a full range of services to meet the changing needs of customers as it strives to become a world leading energy producer.

The five prestigious awards are: “Asia’s Best CEO” goes to BGRIM Chairman and President Harald Link for leading the firm to achieve sustainable growth, being responsible to shareholders, investors and stakeholders equally, making the organisation credible and recognised domestically and internationally; “Asia’s Best CFO” is bestowed to Nopadej  Karnasuta, Chief Financial Officer and Senior Executive Vice President – Finance and Accounting; “Best Investor Relations Professional” title is given to Solaya Na Songkhla, Senior Vice President – Head of Investor Relations and Corporate Sustainability; “Asia’s Best CSR” award reflects BGRIM’s corporate social and environmental responsibility by adhering to the principles of conducting business under ethical principles and good management; and “Best Investor Relations Company.”

BGRIM wins five Asian Excellence Awards 2021 Honours recognise corporate excellence in investment, good governance on Asias leading level

The selections of Asian Excellence Awards are based on corporate information together with the opinion polls of investors, analysts and experts across Asia. These awards are given to organisations with good governance, having sustainable growth path, transparent disclosure of information and taking excellent care for all stakeholders.

Meanwhile, the awards are handed to individuals with visionary leadership, their ability to lead the firms to sustainable growth, excelling in financial management, social and environmental responsibility and international investor relations.

BGRIM has 50 power plants in commercial operations and in the past two months announced power generation investment in Thailand, Malaysia and Poland, with a total capacity of not less than 510 megawatts. The company aims to ramp up its overall installed capacity from 3,058 MW at the end of 2020 to at least 7,200 MW by 2025, and to 10,000 MW by 2030 with a targeted annual revenue of more than 100 billion baht.

BGRIM is eyeing opportunities to expand investment in power ventures in Thailand, Asia, Europe and the US as it is moving to become a leading global energy producer. It has also set its sights on achieving net-zero carbon emissions by 2050.

Published : November 23, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40009161

B.Grimm Power PCL (BGRIM), Thailand’s leading industrial power producer with growing regional presence, has stepped up its renewal energy portfolio by acquiring a majority ownership in a key wind power scheme in Vietnam.

B.Grimm Power PCL (BGRIM), Thailand’s leading industrial power producer with growing regional presence, has stepped up its renewal energy portfolio by acquiring a majority ownership in a key wind power scheme in Vietnam.

BGRIM, through its wholly-owned subsidiary B.Grimm Renewable Power 1 Co Ltd, has purchased an 80% stake in Huong Hoa Holding Joint Stock Company, the sponsor of the 48-megawatt Huong Hoa Onshore Wind Farm Project in Huong Hoa district, Quang Tri province.

BGRIM has paid US$7 million (231 million baht) for the stake to Nguyen Van Quan, the Huong Hoa Holding shareholder. The deal was sealed on 16 November 2021 after being endorsed by the relevant regulatory authorities of the Socialist Republic of Vietnam. The transaction is in line with the directive given by BGRIM’s Board of Directors on 11 August and 11 November.

Huong Hoa Holding has already secured a contract to supply the electrical output from the wind farm in Vietnam’s north central coast region to the Electricity of Vietnam (EVN).

Truong Thanh Energy and Real Estate Joint Stock Company (TEG), a listed company on the Vietnam Stock Exchange, holds another 20% stake in Huong Hoa Holding, to whom BGRIM has been in a successful collaboration with in the development of the remarkable track record of the first national largest installed capacity under the single PPA of 257-MW Phu Yen TTP JSC Solar PV Project in Phu Yen province. The project also gained the renowned international award, namely the Best Vietnam Solar Power Plant Developer 2019, as well as securing Asian Development Bank (ADB)’s $186 million loan, through the country’s first certified green loan of its kind.

Huong Hoa Onshore Wind Power Project is the third major renewal energy venture in Vietnam which BGRIM has engaged as part of the company’s fledging green energy portfolio at home and abroad.

The Huong Hoa Onshore Wind Farm acquisition shows BGRIM’s strong readiness to become one of the major developers of renewable energy under Vietnam’s Power Development Plan (PDP) that has been secured for significant increase of generating capacity in renewable energy platform, said Dr Harald Link, Chairman and President of BGRIM.

BGRIM has already been involved in two large-scale solar energy projects in Vietnam. They are, first, the 257-MW Phu Yen TTP Solar PV Project in Phu Yen, and another the 240-MW Dau Tieng Project in Tay Ninh, south-west of Vietnam.

Dr Link said that the Huong Hoa Onshore Wind Farm acquisition underlines BGRIM’s commitment to pro-actively expand its renewable energy, in line with the company’s vision of “Empowering the World Compassionately” based on the principles of generosity in business to create value for society and growing alongside Thailand and the region. The expanding renewal energy portfolio also forms an integral part of the company’s long-term goal to become a net-zero carbon emissions organisation by 2050.

Published : November 23, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40008934

AIA Group Limited (the “Company”; stock code: 1299) today announces key new business indicators for the nine months ended 30 September 2021.

KEY FINANCIAL SUMMARY

Growth rates are shown on a constant exchange rate basis.

• Value of new business (VONB) of US$2,549 million, up 15 per cent

• Annualised new premiums (ANP) up 6 per cent to US$4,309 million

• VONB margin up 5.1 pps to 58.9 per cent

• Total weighted premium income (TWPI) up 3 per cent to US$27,463 million

“AIA has reported strong VONB growth of 15 per cent for the nine months ended 30 September. We have maintained good momentum and delivered very strong VONB growth of 20 per cent on a like-for-like basis. Excluding Hong Kong, where sales to Mainland Chinese visitors remain extremely limited due to ongoing travel restrictions, the Group’s VONB exceeded the pre-pandemic level of the first nine months of 2019.Lee Yuan Siong, AIA’s Group Chief Executive and President, said:

“In Mainland China, we are making good progress growing our Premier Agency in our new cities and I am delighted that AIA China has recently received regulatory approval to commence operations in Wuhan, Hubei. I am also encouraged by the early positive results from our new bancassurance partnership with The Bank of East Asia in Mainland China and Hong Kong.

“Across the Group, we are leveraging the power of technology, digital and analytics to enable the execution of our strategic priorities and further extend our competitive advantages. While the pandemic continues to disrupt some of our markets, AIA’s performance demonstrates the benefits of our diversification across Asia and the resilience of our business model that has been enhanced by technology.

“I am confident that we will remain focused on the execution of our growth strategy and deliver sustainable value for all of our stakeholders as we help millions more people live Healthier, Longer, Better Lives.”

SUMMARY FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2021

In the first nine months of 2021, VONB of US$2,549 million for the Group increased by 15 per cent compared to the corresponding period in 2020. We have maintained good momentum and delivered very strong VONB growth of 20 per cent on a like-for-like basis. VONB for the Group outside Hong Kong remained above the pre-pandemic level of 2019.

AIA China continued to be the largest contributor to the Group’s VONB and delivered double-digit VONB growth in the first nine months of 2021 on a like-for-like basis. Our differentiated Premier Agency model has generated significantly higher agent productivity compared to the first nine months of 2020. Average agent incomes have exceeded the pre-pandemic levels of 2019, supporting agent recruitment and retention. While traditional protection products remain the largest contributor to our VONB, we have achieved strong sales from our expanded suite of long-term savings products as we deepen our share of customer wallet. We continue to make good progress as we establish and grow our Premier Agency in new cities to AIA China. We also recently received approval from the China Banking and Insurance Regulatory Commission Hubei Bureau to commence operations in Wuhan, Hubei.

Our business in Hong Kong reported very strong VONB growth, driven by an excellent performance from our domestic customer segment. Sales to Mainland Chinese visitors remained limited as a result of ongoing travel restrictions. Over the first nine months of 2021, our Premier Agency has delivered sequential VONB growth quarter by quarter. We also achieved strong growth in our bancassurance channel, supported by an encouraging start from our new partnership with The Bank of East Asia that commenced in early July.

Both AIA Singapore and AIA Malaysia delivered VONB growth for the first nine months of 2021. In the third quarter of 2021, tighter pandemic restrictions contributed to reduced VONB compared to the very strong performances from both businesses in the third quarter of 2020. Supported by increased adoption of digital tools, we have grown active agent numbers and productivity in our Premier Agency in both markets.

Excluding AIA Vietnam, VONB from Other Markets in the first nine months of 2021 was above the corresponding period in 2020 on a like-for-like basis. The more infectious Delta variant of COVID-19 has had a significant effect on several markets within this reportable segment during the third quarter of 2021. Vietnam experienced unprecedented levels of infection and lockdowns compared to a largely unaffected third quarter in 2020. While significantly higher adoption of remote sales processes helped to mitigate the impacts of pandemic restrictions on sales activity, VONB from Other Markets was slightly lower in the first nine months of 2021 on a like-for-like basis.

AIA Thailand has delivered excellent VONB growth, driven by strong performances from both our agency and bancassurance channels. Our very strong growth momentum of the first half of 2021 has continued in the third quarter.

Overall, VONB margin for the first nine months of 2021 of 58.9 per cent increased 5.1 pps, driven by product mix shift, reduced acquisition expense overruns and higher government bond yields. The VONB margin is stated net of acquisition expense overruns, and the long-term investment return assumptions remain unchanged from those shown in our Annual Report 2020. Margin reported on a present value of new business premium (PVNBP) basis was 10 per cent, an increase from 9 per cent for the first nine months of 2020. ANP of US$4,309 million increased by 6 per cent and TWPI increased by 3 per cent to US$27,463 million over the same period.

OUTLOOK

Rising incomes, low levels of private insurance penetration and limited social welfare coverage continue to drive structural demand for AIA’s insurance products across Asia. Our substantial competitive advantages enable us to leverage this demand to generate sustainable long-term growth. While the global economy has recovered strongly in 2021, the ongoing effects of the pandemic have slowed the pace of growth in the third quarter. We continue to see disruption from pandemic restrictions and increased claims in some of our markets, particularly where vaccination levels are low. Despite near-term uncertainty, we are confident that the execution of our strategic priorities will build on our strong track record of growth and generate long-term shareholder value.

FOREIGN EXCHANGE VOLATILITY

AIA receives the vast majority of its premiums in local currencies and we closely match our local assets and liabilities to minimise the economic effects of foreign exchange movements. When reporting the Group’s consolidated figures, there is a currency translation effect as we report in US dollars. We have provided growth rates and commentaries on CER unless otherwise stated, since this provides a clearer picture of the underlying performance of the businesses.

Published : November 17, 2021

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40008890

B.Grimm Power PCL (BGRIM), Thailand’s leading industrial power producer, increased its normalised net profit attributable to the parent company by 6% in the first nine months of this year to 2,228 million baht.

B.Grimm Power PCL (BGRIM), Thailand’s leading industrial power producer, increased its normalised net profit attributable to the parent company by 6% in the first nine months of this year to 2,228 million baht.

The higher earnings in January-September resulted from a 21% rise in its power sale volumes to industrial clients, a 16.9% reduction in the sales and administrative expenses, and the expanded production capacity, said Dr Harald Link, Chairman and President of BGRIM. It is noteworthy that actual power sale volumes in the period exceeded the 10-15% growth projections set earlier.

For the third quarter, BGRIM’s 2021, BGRIM’s revenues from sales and services edged up by 4.7% over the same period last year to 11,714 million baht. This was driven by a 17.1% growth in the electricity sales to industrial customers in the country to peak at 844 gigawatt-hours.

The rise in power deliveries came upon strong demand from key industrial customers and new buyers who have committed to purchase 33.5 MW from BGRIM. The company has targeted not less than 40 MW in power supplies to new clientele this year and more than 50 MW in 2022.

However, third-quarter normalised net profit attributable to the parent firm dropped 23.4% from the same period last year to 571 million baht. This was due primarily to the 14% increase in natural gas prices to 268 baht per million British Thermal Unit (BTU) and the planned maintenance shutdowns of its three industrial power plants (SPP).

Dr Link noted that the majority of BGRIM’s revenues, at 75%, would not be affected by rising natural gas prices, a development that has been anticipated. But BGRIM has devised strategies to cope with the matter by means of acquiring more projects to realise profits immediately next year. Various cost control plans will be executed to save at least 100 million baht in expenses in 2022.

Meanwhile, the five replacement co-generation plants are scheduled to come on stream in the second half of 2022 with greater fuel efficiency that can reduce the consumption of natural gas per unit of generation by 15%. BGRIM also has the flexibility in managing future gas costs when its plan to import liquefied natural gas (LNG) is realised.

Dr Link said BGRIM is expanding its footprint in renewable energy to meet its vision of Empowering the World Compassionately to create values for the society and grow alongside Thailand and the region. BGRIM is striving to achieve net zero carbon emissions by 2050 through the expansion of its renewal energy portfolio to include the recently-announced ventures of that nature in Malaysia and Poland.

Throughout this year, BGRIM obtained various national awards which reinforce its mission. Lately, it received a score of 94% for the Survey and Monitoring Project on Corporate Governance of Listed Companies in Thailand (CGR) conducted by the Thai Institute of Directors Association (IOD) with an excellent (5-star) rating for the second year in a row. The rating mirrors the company’s commitment to conduct its business with environmental and social responsibility as well as adherence to good corporate governance.

BGRIM aims to secure at least 7,200 MW in outstanding power sale contracts by 2025, up from 3,058 MW at the end of 2020, and further to 10,000 MW by 2030 with a revenue target of 100 billion baht per year.

Published : November 16, 2021

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https://www.nationthailand.com/pr-news/business/40008888

B.GRIMM Power expands it’s renewable energy Portfolio — To acquire a significant stake in fast growing renewable energy company, Renikola, Malaysia.

B.Grimm Power Malaysia Sdn. Bhd., (“B.Grimm Malaysia”) which is a 100% owned subsidiary of B.Grimm Power Public Company Limited (“B.Grimm Power”), has entered into the agreements to indirectly purchase 40.6% in Pimpinan Ehsan Berhad (PEB) via a direct subscription to 45% shares in reNIKOLA Holdings Sdn. Bhd., a fast-growing pure play renewable energy company based in Malaysia with target to increase renewable portfolio to above 1 GW from current pipeline of more than 500 MW.

Currently reNIKOLA has 88 MW of solar plants in operations and term sheet signed for acquiring another 90MW of solar plants in the near future. Additionally, reNIKOLA also has various MOUs signed with major corporations in Malaysia, to develop a 375MW solar plant under the nascent Third Party Contract (Corporate PPA) framework. reNIKOLA, also has an identified pipeline of prospective solar and small hydro projects which it is pursuing actively.

The promoters and management of reNIKOLA have a strong track record in the recent past of being on the forefront of renewable projects in Malaysia, with some of the firsts being: The first project to reach commercial operation date (COD) under the Large Scale Solar (LSS) bidding system in Malaysia; and the first renewable company in Malaysia to get the approval of Ministry of Energy, Science & Technology for a solar plant under the TPC/”Corporate PPA” scheme.

At the virtual signing ceremony, President of B.Grimm Power Dr. Harald Link said: “We share same values as reNIKOLA, which is to provide clean, reliable and affordable electricity. As such, we see it as the ideal vehicle for us to venture into the energy sector in Malaysia. The country offers many opportunities, particularly in the renewable energy segment. We have plans to develop renewable energy power plants in Malaysia and through this acquisition, we can fast-track our expansion plans in the country and build a sizeable renewable energy asset portfolio together. We are thrilled with all the possibilities and look forward to turning the opportunities into reality expeditiously.”

Chairman of reNIKOLA Tengku Zaiton added: “The participation of B.Grimm Power, which is a respectable world-class energy company, as the significant shareholder of reNIKOLA Holdings validates the direction we are taking, focusing on pure play long term renewable energy or renewable energy assets. We are excited with the huge potential it brings when both parties combine our strengths. We can leverage on B.Grimm Power’s strong expertise and technical know-how in the renewable energy sector. Coupled with the RM367 million cash injection from B.Grimm, we have a strong war chest to seize the tremendous growth opportunities in the renewable energy sector.”

Chairman of PEB Jonathan Law Ngee Song, said: “We have set a clear goal, that is to transform PEB into a leading pure play renewable energy company in the region. We want to build the largest renewable energy asset portfolio in Malaysia. With B.Grimm Power as a significant shareholder in PEB [upon completion of the Proposed Acquisition], we are confident we are on the accelerated path to achieve our goal, and it certainly serves as a booster to our standing and credibility as well. With the support of B.Grimm Power, PEB through reNIKOLA Holdings can play a key role in helping to achieve this target. Moreover, we believe our efforts on the Environmental, Social and Governance or ESG aspect can be further enhanced by the input from B.Grimm Power given its excellent reputation and established track record in this area. All in all, it is interesting times ahead as we embark on the next phase of our corporate journey.”

B.Grimm Power’s Commitment to Net Zero by 2050

This is yet another step by B.Grimm Power towards reaching the goal of Net Zero Carbon emissions by 2050.

Coincidentally Malaysia has also announced its target to reach Net Zero by 2050. It aims to reduce the intensity of greenhouse gas or GHG emission across the economy by 45% based on the GDP by 2030, which is 10% higher than the earlier target.

Currently B.Grimm Power has 737 MW of renewable power plants in operations, consisting of solar projects in Thailand, Vietnam and Cambodia, wind projects and waste-to-energy in Thailand and hydro power projects in Laos. The company also operates a number of solar rooftop projects in Thailand and the Philippines. Additionally, B.Grimm Power currently developing several renewable projects with a total of capacity of 126 MW, including wind project in Poland, hydro power projects in Laos and solar hybrid project in Thailand. The company aims to ramp up its total installed capacity from 3,058 MW at the end of 2020 to at least 7,200 MW of secured PPA by 2025, and to 10,000 MW by 2030 with a targeted annual revenue of more than 100 billion baht.

Published : November 16, 2021