Enjoy world-class cuisine in the comfort of home with “MARRIOTT BONVOY ON WHEELS”
New food delivery or takeaway service lets Thai residents order delectable dishes from Marriotts restaurants and create great home-dining experiences with family, friends and colleagues
Marriott Bonvoy is inviting Thai residents to enjoy restaurant-quality cuisine in the comfort of their own home or office, with the launch of the “Marriott Bonvoy on Wheels” takeaway and delivery service!
Under this new initiative, which was created to coincide with the latest work-from-home period in Thailand, local residents can now order their favorite meals from a wide range of restaurants at Marriott’s hotels and resorts across the Kingdom, and have them delivered straight to their home or workplace.
An array of popular dining destinations are taking part, which gives Marriott Bonvoy on Wheels a great culinary selections of any food delivery and take away service. Whether customers are craving traditional Thai dishes, authentic Asian delights from Marriott’s Chinese, Japanese or Indian restaurants, or Western classics such as Italian pasta and pizza, American burgers, French fare and more, a world of culinary delights is just moments away.
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Enjoy world-class cuisine in the comfort of home with
Simply place an order online direct with the hotel, via LINE, or using our partner delivery app. Marriott’s talented team of chefs will cook fresh dishes using the finest ingredients, which can be picked up from the hotel or delivered to the customer’s front door. It’s so simple!
Whatever the occasion, every diner can create great home-dining experiences with their family, friends or colleagues, wherever they are. What’s more, Marriott Bonvoy members can earn points on takeaway offers. Not a member yet? CLICK HERE to sign-up for free!
Marriott Bonvoy on Wheels is currently available in Bangkok, Chiang Rai, Chiang Mai, Hua Hin, Pattaya and Phuket, with more destinations set to come online in the coming weeks. For the full list of participating restaurants, please see the below.
Bangkok Airways announces the resumption of Samui – Phuket (v.v.) Starting from 25 August 2021 onwards
The resumed services between Samui and Phuket will be operated by an ATR72-600 aircraft, starting with three flights per week (Monday, Wednesday and Friday).
Starting from 25 August 2021 onwards, Bangkok Airways Public Company Limited will resume its direct services between Samui and Phuket, in order to facilitate passengers as well as to support Thailand’s re-opening projects which are Phuket Sandbox and Samui Plus Model.
The resumed services between Samui and Phuket will be operated by an ATR72-600 aircraft, starting with three flights per week (Monday, Wednesday and Friday). The outbound flight PG253 departs Samui airport at 11.25hrs. and arrives Phuket airport at 12.25hrs. The inbound flight PG254 departs Phuket airport at 13.00hrs. and arrives Samui airport at 14.00hrs. Passengers can visit the website https://www.bangkokair.com/flight/flightSchedule for more details about flight schedules.
Passengers travelling to and from the two cities are required to present a medical certificate with a laboratory result indicating that COVID-19 is not detected (done by RT-PCR technique and issued no more than 72 hours before traveling) and proof of vaccination. Additionally passengers are also required to strictly follow guidelines issued by Phuket provincial office and Surat Thani provincial office, more information about requirements can be checked at https://www.gophuget.com and https://healthpass.smartsamui.com.
Moreover, the airline needs to extend the temporarily suspension of in-flight meal service and temporary closure of its passenger lounges until further notice.
To contact the airline, please use the following contact channels;
Bangkok Airways remains committed to the safety and hygiene of our passengers and employees as the highest priority. The airlines strictly implement surveillance measures to prevent the spread of COVID-19
Asia’s fashion spotlight CENTRESTAGE returns next month
Designers and brands take innovative approach amid pandemic Annual event opens to public visitors for the first time
CENTRESTAGE, Asia’s premier fashion event, returns in September for its sixth edition, running in a physical format from 10 to 12 September at the Hong Kong Convention and Exhibition Centre (HKCEC). Organised by the Hong Kong Trade Development Council (HKTDC), the show features more than 200 brands from over 20 countries and regions and close to 30 fashion events, offering an ideal platform through which brands and designers can showcase their creativity in the fashion arena and demonstrate their resilience in overcoming the recent challenges. For the first time, the show will open to public visitors for the entire duration of the event.
HKTDC Deputy Executive Director Benjamin Chau said: “Last year’s CENTRESTAGE was held virtually, but I am delighted that the event has been able to overcome limitations resulting from the pandemic and return in the physical format in 2021, helping to showcase more fashion brands and budding designers from Asia and across the globe. The show provides a comprehensive promotional platform through which fashion talents can present their latest collections and connect with global buyers and fashionistas. This year’s CENTRESTAGE is particularly meaningful as designers have gone through so many challenges as a result of the pandemic. They are facing up to the new environment with fresh ideas and a spark of innovation in their creations.”
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Asia’s fashion spotlight CENTRESTAGE returns next month
Overcoming pandemic challenges, fostering industry interaction
CENTRESTAGE 2021 will have “Chapter Infinity” as its central theme, encouraging those in the fashion industry to take creative approaches and reignite their inspiration in the pandemic era, exploring the countless opportunities that lie ahead. The event will feature three thematic zones: ALLURE – representing craftsmanship, refinement and elegance; ICONIC – displaying avant-garde designs; and METRO – showcasing contemporary, minimalistic expressions of urban life. This year’s event will feature over 200 fashion brands, including more than 120 brands from Hong Kong. Although travel restrictions remain in effect between Hong Kong and the rest of the world, some brands and industry organisations outside Hong Kong will send local representatives to participate in the event, including the Taiwan Textile Federation, Macau Productivity and Technology Transfer Center, Italian fashion promotion organisation Ente Moda Italia (EMI) and new joiner Chamber of Entrepreneurs of Amalty from Kazakhstan.
Asia’s fashion spotlight CENTRESTAGE returns next month
In addition, overseas buyers that have been invited to conduct video business meetings with exhibitors include 3NY from the United States, Germany’s Encode Fashion, Thailand’s Bluepin and Vietnam’s Runway. Local fashion buyers such as Club 21, D-mop, Harvey Nichols, I.T, Lane Crawford and online fashion store Farfetch have also been invited.
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CENTRESTAGE ELITES show boosted by XR, artiste Hins Cheung gives support
The spotlight opening gala show on 10 September, CENTRESTAGE ELITES, will see the global launch of the latest 2022 Spring/Summer collections from local designers Calvin Chan and Joyce Kun’s renowned brand The World Is Your Oyster, as well as acclaimed Korean designer Lee Mooyeol’s brand, YOUSER. Lee Mooyeol won’t be able to come to Hong Kong himself, but he is actively involved in the show’s production. Celebrity singer and fashionista Hins Cheung will attend the event, which will use extended reality (XR) for added impact, and give his support to the designers. The show will be livestreamed through the CENTRESTAGE website and social media platforms Facebook and Instagram, employing augmented reality (AR) effects to enhance the online viewing experience.
Asia’s fashion spotlight CENTRESTAGE returns next month
Wide array of fashion shows presented by local design talents
The HKTDC has organised a series of activities around the world. With profound experience gained through international fashion weeks, a number of local designers will present their latest collections at Hong Kong Emerging Talents Show on 10 September and Fashion Go Places on 11 September.
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Another highlight of this year’s CENTRESTAGE will be the final of the Hong Kong Young Fashion Designers’ Contest 2021 (YDC) held on 12 September. The VIP judges will be Rushemy Botter and Lisi Herrebrugh, founders of menswear label BOTTER. The 10 shortlisted candidates will compete for four honours, including overall champion, the Excellence Award, Best Visual Presentation Award and My Favourite Collection Award. Members of the public can vote for their favourite collection online and stand the chance to win one of seven HK$2,000 Lee Gardens Area e-gift certificates sponsored by Hysan Development.
Local online fashion hub FASHIONALLY.com will feature its FASHIONALLY Collection #17 fashion show on 10 September, presenting rising local fashion designers and labels. Other Hong Kong brands will combine a fashion short film with an onsite performance at FASHIONALLY Presentations on 10 September and 11 September, providing a creative showcase for their 2022 Spring/Summer collections.
Asia’s fashion spotlight CENTRESTAGE returns next month
Fashion Summit (Hong Kong) 2021, an international forum focused on sustainable development in the fashion industry, will take place on 9 and 10 September with the theme “Design for the Future”. Redress, a local non-governmental organisation promoting sustainable fashion, will present the Grand Final of the Redress Design Award 2021, the world’s largest sustainable fashion design competition, on 11 September. Local fashion brands Sparkle by Karen Chan and The Sparkle Collection will launch their new collections at CENTRESTAGE. Well-known key opinion leader Lilian Kan will also showcase her designs at the fair for the first time. Other events include the Hong Kong Kids Fashion Show and “LEGO x Hong Kong Designers Parade” on 12 September, while the “Watch x Fashion” Lucky Draw Session will take place on the weekend of 11-12 September.
CENTRESTAGE in Town citywide events
CENTRESTAGE in Town features a series of fashion events beyond the CENTRESTAGE fairground, collaborating with some 100 Hong Kong boutiques, shopping malls and cultural landmarks to generate a fashion buzz across the city. Highlighted events include:
Date (Year 2021)
Event
Venue
From today to 5 Jan 2022
Exhibition – “NOT a fashion store!”
Hong Kong Museum of Art
From today to 31 Dec
PMQ Creative Workshop Series
PMQ
From today to 5 Sept
Fashion Walk HK Designers Concept Pop-up Store (inside Philip Gold Curation)
Fashion Walk, Kingston Street, Causeway Bay
20 Aug to 12 Sept
JCCAC X PMQ Collaborative Exhibition: But Wing-ki
PMQ
27 Aug to 6 Sept
CENTRESTAGE Fashion Showcase
Harbour City Gateway Arcade
1-9 Sept
CENTRESTAGE Digital Gallery
D2 Place TWO
1-9 Sept
CENTRESTAGE Pop-up Shop (Whitelisted by Novelty Lan & Fashion Farm Foundation)
BGRIMs Bo Thong Wind Farm fully up with grid connection, another milestone in clean energy pathway set
The Bo Thong 1 and 2 wind farms are operated by Bo Thong Wind Farm, owned 92.2% by BGRIM. Their electrical output has been delivered to the Provincial Electricity Authority (PEA) under a 25-year Power Purchase Agreement (PPA) that comes with a provision of an “adder”
B.Grimm Power Public Co Ltd (BGRIM)’s 16-megawatt wind farm in northeast Thailand has fully come on line and supplying power to the national grid.
The second part of Bo Thong wind energy facility, located in Nikhom Kamsoi district, Mukdahan province, was successfully brought on stream on August 16, joining the first unit which was up and running earlier on August 2.
“Bo Thong Wind Farm’s commercial start-up represents another milestone in BGRIM’s route map towards greater engagement in clean energy development,” said Dr Harald Link, Chairman and President of BGRIM.
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BGRIMs Bo Thong Wind Farm fully up with grid connection, another milestone in clean energy pathway set
The Bo Thong 1 and 2 wind farms are operated by Bo Thong Wind Farm, owned 92.2% by BGRIM. Their electrical output has been delivered to the Provincial Electricity Authority (PEA) under a 25-year Power Purchase Agreement (PPA) that comes with a provision of an “adder”, amounted of 3.5 baht per kilowatt-hour, to the base tariff for a 10-year period.
The operation of wind farms forms part of BGRIM’s strategy to ramp up electricity production from clean and renewal energy sources and to make them available to state power utilities in Thailand and countries around the world under the so-called B2G (business to government) model. The model is geared towards providing highly efficient and stable electricity and utilities that are fundamental to the economic growth of countries.
BGRIM is seeking to achieve the objective by pursuing green-field developments and acquisitions both at home and abroad to become a world-class energy producer. More importantly, BGRIM is moving strenuously towards realising net-zero carbon emissions by 2050.
Dr Link said: “BGRIM will continue to invest more with a determination to promote sustainable business growth under the principles of good governance as well as responsible value chain management.
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“The principles take into account the economic, social and environmental impacts through the development of clean energy and the improvement of power plant efficiency.
“Our goal is to increase the proportion of clean energy in our portfolio that will go a long way to help curbing global warming and taking care of the environment in a sustainable way,” he noted.
At present, about 74% of BGRIM’s generation is derived from natural gas with the remaining 26% being in the forms of renewable or clean energy.
The company is completing five combined cycle co-generation power plants, namely ABP 1, ABP 2, BPLC 1 and BGPM 1&2, with a combined installed capacity of 700 MW. They are replacements to existing ones and due to start commercial operation by the second half of next year.
BGRIM has been negotiating and studying the possibility of expanding investment in renewable energy projects in many countries such as South Korea, Vietnam, Malaysia, Indonesia, Cambodia and the Philippines.
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BGRIM currently has a total of 50 power plants in commercial operation. 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 further to 10,000 MW by 2030 with an annual revenue of more than 100 billion baht being targeted.
PTTEP donates Robots to End-to-End field hospital in the fight against COVID-19
PTTEP stands strong with Thai people. The company has supported innovations and earmarked over 63 million Baht to hospitals, educational institutions and various organizations in the fight against COVID-19
PTT Exploration and Production Public Company Limited (PTTEP) donated 10 CARA Robots, to assist medical personnel in delivering medical and food supplies, an Xterlizer UV Disinfection Robot and additional funds to support PTT Group’s End-to-End field hospital. The CARA and the Xterlizer are jointly developed by AI and Robotics Ventures Co., Ltd. (ARV), a subsidiary of PTTEP, and its partners to facilitate medical personnel and reduce the risk of infection.
Amidst the ongoing COVID-19 pandemic, PTTEP stands strong with Thai people. The company has supported innovations and earmarked over 63 million Baht to hospitals, educational institutions and various organizations in the fight against COVID-19 such as negative pressure transfer beds and wheelchairs, mobile negative pressure boxes, the development of COVID-19 test kit diagnostics, ambulance and ventilator, IoT cold chain monitoring alert system for COVID-19 vaccine storages, Oxygen High Flows, Medical Supplies and Food Delivery Robots, and Xterlizer UV Disinfection Robots.
Refineries opt for advanced technologies to address global warming issue
Following such the success of energy saving and enhanced environmental protection, IRPC won Thailand Energy Awards 2020 and also represented Thailand in the Asian Energy Awards 2021 contest.
Being alert to the world’s agenda on climate change, oil refineries in Thailand are striving to employ advanced and proven technologies to reduce greenhouse gas emission and energy consumption derived from the operations. The undertaking is part of their efforts to lend meaningful contributions to address the global warming problems.
At the recent webinar entitled “Sustainable Refinery Trend and Technology” organized by the Petroleum Institute of Thailand (PTIT), representatives from Dow Thailand, leading materials science company, spoke to the audience about the proven, reliable and affordable technology invented to cope with the refinery efficiency and environmental issues while a speaker from IRPC Public Company Limited shared to participants about its experience in applying that solution to achieve energy saving and environmental protection.
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Refineries opt for advanced technologies to address global warming issue
Vichan Tangkengsirisin, Asia Pacific Commercial Director, Dow Industrial Solutions, said in the webinar that world population are awakening to climate change crisis. Many countries are attempting to succeed carbon neutral target and aiming for net zero emission of GHG in 2050, in order to achieve the goal of the Paris Agreement that limit global temperature increase to well below 2 degrees Celsius, while pursuing efforts to limit the increase to 1.5 degrees. Considering that GHGs are emitted from combustion of fossil fuels such as oil and coal, global trend is now lowering reliance on fossil fuels and moving to clean energy. However, the transition is still going on and relying on fossil fuels which can’t be cut off immediately. The answer to this situation is finding out “how to use energy efficiently and reduce GHG emission at the same time”
Vichan has also pointed out to six current trends in the refinery industry those are: 1. Improving asset utilization rate to resolve bottle neck in the operations; 2. The number of quality crude oil sources has declined. Therefore, refinery plants turn to use crude oil from sources that have more sulfur content. 3. More stringent sulfur specification in refinery products such as the marine fuels required by the International Maritime Organization (IMO). 4. Tightened sulfur dioxide emission standard 5. Having sustainability target that involves lower emission of sulfur dioxide and carbon dioxide. 6. Reduction of energy consumption.
“What refineries are looking for now is the proven, reliable and affordable technology that will help to improve operation efficiency through reducing energy consumption as much as possible, minimizing unplanned shutdown or turnaround, lessening corrosion, providing longer equipment operational lifecycle, extending catalyst life and environmental protection will absolutely be improved consistently. Meanwhile, these all advantages have to come with no large additional capital investment needed.”
Refineries opt for advanced technologies to address global warming issue
To cope with those refinery’s expectations, Dow has developed the UCARSOL as the latest innovative gas treating solution to capture GHG emitted by sizable industrial factories such as oil refinery, gas separation plant, electricity generating plant and fertilizer production factory, to achieve both improved efficiency and environmental protection.
Chee Pin San, APAC Technical Leader, Energy Segment, Dow Industrial Solution, and Wichai Sriprasertkarnka, Account Manager, Dow Industrial Solution, told the audiences at the seminar that around 1,500 organizations in the world apply UCARSOL solvent at their operations, around 380 of which are refineries. In Asia, UCARSOL solvent has more than 80 installations at oil refinery and gas separation facilities.
Refineries opt for advanced technologies to address global warming issue
UCASOL solvent can help reduce gas emission to the environment while assist in reducing corrosion and minimize energy consumption. Dow also provides Amine Management Program that is a comprehensive service program designed for refineries and users. Users of UCASOL solution include refinery in South Korea and power plant in Japan have successfully retrieve their energy consumption and GHG emission goals.
Nattapon Pumwisate, Senior Engineer, IRPC Plc, said IRPC has successfully adopted UCARSOL technology at its operations and lower steam consumption with result to saving value at THB41.5 million per year, the company can also minimize gas emission to the environment. He added that IRPC is the 1st in Asia and 4th in the world succeed in UCARSOL installation project.
Following such the success of energy saving and enhanced environmental protection, IRPC won Thailand Energy Awards 2020 and also represented Thailand in the Asian Energy Awards 2021 contest.
THAI Operates Domestic and International Flights in August – October 2021
Thai Airways International Public Company Limited (THAI), recently said that in response to the current demands for air travel on both domestic and international routes, THAI has arranged and adjusted its flight schedules as per the latest COVID-19 control measures during August – October 2021
Mr. Nond Kalinta, Chief Commercial Officer, Thai Airways International Public Company Limited (THAI), recently said that in response to the current demands for air travel on both domestic and international routes, THAI has arranged and adjusted its flight schedules as per the latest COVID-19 control measures during August – October 2021 with details as follows:
Domestic (one-way flight):
1. Twice weekly flights from Bangkok to Phuket
• Flight TG922 departs from Bangkok every Thursday.
• Flight TG916 departs from Bangkok every Friday.
Remark: These flights will be operated during September – October 2021 according to announcements of the Civil Aviation Authority of Thailand (CAAT).
Flight operations in support of the Phuket Sandbox campaign:
1. Bangkok – Phuket – Frankfurt (v.v.): one flight per week every Thursday.
2. Bangkok – Phuket – London (v.v.): one flight per week every Friday.
3. Bangkok – Paris – Phuket – Bangkok: one flight per week every Thursday.
4. Bangkok – Zurich – Phuket – Bangkok: one flight per week every Friday.
Intercontinental (return flights):
1. Bangkok – London: twice weekly flights every Wednesday and Sunday.
2. Bangkok – Frankfurt: twice weekly flights every Saturday and Sunday.
3. Bangkok – Copenhagen: twice weekly flights every Tuesday and Saturday.
(Remark: These flights will be operated only on Saturday in September.)
4. Bangkok – Sydney: twice weekly flights every Wednesday and Sunday.
Regional (return flights):
1. Bangkok – Singapore: one flight per week every Wednesday (in October 2021).
2. Bangkok – Osaka: twice weekly flights every Thursday and Saturday.
3. Bangkok – Tokyo (Narita): three flights per week every Tuesday, Thursday and Saturday.
4. Bangkok – Tokyo (Haneda): twice weekly flights every Tuesday and Saturday.
5. Bangkok – Nagoya: twice weekly flights every Thursday and Sunday.
6. Bangkok – Seoul: twice weekly flights every Thursday and Sunday.
7. Bangkok – Taipei: twice weekly flights every Wednesday and Friday.
8. Bangkok – Jakarta: one flight per week every Wednesday.
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THAI Operates Domestic and International Flights in August – October 2021For more information about flight schedules, reservations and ticketing services, please visit our website at www.thaiairways.com, call THAI Contact Center at (+66) 2-3561111, 24 hours a day, or contact THAI local ticketing offices.
Arapat Sangkharat unveils investment vision for Thailand
Maybank Kim Engs incoming leader reveals big plans for new era
Maybank Kim Eng Securities (Thailand) is a familiar name among Thai investors, having held the number one market share for 16 consecutive years from 2002-2017. The leading securities company now enters a new era under the leadership of Arapat Sangkharat, deputy chief executive officer, who was appointed Officer in Charge on July 1.
Arapat joined the company on August 17, 2020, as deputy chief executive officer and regional head of transformation of Maybank Kim Eng Group. He arrived with more than 20 years of experience in the banking business at leading companies both domestic and international, including Siam Commercial Bank, BNY Mellon, American Express and Citigroup.
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In a recent interview with Krungthep Turakij, Arapat revealed his views on the securities business, including the operational plans and goals of Maybank Kim Eng over the next 5 years (2021-2025).
He said the company has set long-term goals to democratise investment by helping more Thais to access investment as a wealth management tool for financial stability. Previously, such services in Thailand were limited to wealthy customers, while in other countries investment diversification is accessible to all investors. Maybank Kim Eng also wants the new generation to pay attention to investment and be given easier access to investment options.
Arapat said this was not possible in the past because securities companies had cost limitations. But today’s technology has cut the cost of reaching customers via digital channels. The company is now investing in a new customer service system supported by Maybank Group, one of the largest banks in Asean.
In addition to using artificial intelligence (AI) to analyse individual customer risks, said Arapat, the challenge is how to leverage the data to create investment portfolios and returns that meet the goals of each client. These include the design of investment plans suited to each customer’s life goals (Goal-based Investing), such as investment in education, for retirement or for emergency expenses.
However, he admitted that gearing up to meet the goals of the 5-year plan may take time. However, initial progress is expected in 2022, as the company deems it necessary to make investments easier for all customers and reach new generations who are interested in investing. The company considers this goal to be part of its social responsibility, in line with Maybank Group goals on ESG (environmental, social and governance) issues. The company is focused on building the organisation as an “ESG Investment House”. Among the many steps it is taking to meet this aim are focusing on writing research recommendations for the listed companies that promote ESG, not underwriting shares in companies in environmental destruction, educating investors and student groups, and developing the company as a Zero-Waste Organisation.
As for short- to medium-term goals, Arapat said he would like to change how customers and employees view the organisation. For customers, he set a goal for Maybank Kim Eng to become number one in the minds of customers (first to mind), which is seen as a more important goal than being the number one securities company in terms of income or profit.
As for employees, he aims to make Maybank Kim Eng the company of choice for workers who feel proud to be a part of driving the organisation.
However, asked about the Covid-19 epidemic that has disrupted life and business operations in almost every industry, he said everyone wanted to see the crisis resolved.
However, he acknowledged that the securities business is one of the few that has seen strong growth during Covid-19. Consequently, he expected that the growth levels of 2020 and 2021 may slow once the crisis is over.
But insights gained from the virus crisis further underscore that building financial stability is a necessity for everyone, not just the wealthy, he added. In addition, legal entities like small and medium-sized businesses (SMEs) should also be among the customers receiving wealth building services. Even small businesses with not much capital, such as 1 million baht, should be able to diversify their investments.
In the first half of 2021, the company recorded a net profit of 448.04 million baht, up 206.35 million baht or 85.38 per cent on the same period last year. The outstanding performance was a result of success in distributing services to a wide range of customers.
The overall performance of the company in the first half of this year was considered satisfactory and met the target set. Although the economy is still affected by the Covid-19 pandemic, market sentiment and investment activity continue to perform well. The company continues to expand its product and service portfolio to include global equities and global funds with support from Maybank Group, which is a strong international bank with high business stability. This October, Maybank Kim Eng Group will celebrate 10 years of providing new financial services through the Maybank network in 10 markets, which continues its smooth and stable operations.
BGRIM posts new high profit in Q2 as power sales soar, 7 strategic initiatives to become world-class energy producer gains momentum
The second quarter’s net profit was record high, at 56.5% higher than the preceding first quarter’s level, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 9.4% over the same corresponding period last year to 3,524 million baht.
B.Grimm Power Plc (BGRIM)’s net profit attributable to major shareholders in the second quarter of this year leaped 50% to 1,022 million baht, driven largely by the upsurge in power sales. However, including the unrealised foreign exchange losses, the earnings declined slightly over the same period last year to 1,011 million baht.
The second quarter’s net profit was record high, at 56.5% higher than the preceding first quarter’s level, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 9.4% over the same corresponding period last year to 3,524 million baht.
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Dr Harald Link, Chairman and President of BGRIM, said the 47.4% jump in its electricity sale to industrial customers in Thailand, which reached a peak of 831 gigawatt-hours in the second quarter, contributed significantly to BGRIM’s improved bottom line.
There were robust power demand particularly from customers in automotive parts, tyres, home appliances and industrial gases sectors. There were also connections to the system of new industrial customers under the power purchase agreements involving 21.2 MW in the second quarter of this year. That raised the overall capacity delivery for the first half of this year to 31.5 MW, compared with not less than 40 MW targeted for the entire 2021.
Contributing to BGRIM’s second-quarter profitability were the commercial start-up of the company’s solar farm in Cambodia in December 2020, the power plant optimisations of Amata B.Grimm Power (Rayong) 1 Co Ltd (ABPR1) and Amata B.Grimm Power (Rayong) 2 Co Ltd (ABPR2) in the second half of 2020. Cost controls had reduced sale and administrative expenses by 17.6% from the same period last year.
Meanwhile, the average price of natural gas, the main fuel of BGRIM’s generation, had dropped by 8.9% in the quarter to result in lower production costs.
Dr Link added that BGRIM has recently unveiled new seven strategic initiatives to become a world-class energy producer based primarily on its mission of “Empowering the World Compassionately.”
The mission is meant to create value for the society in the form of “Sustainable Utility Solution Provider” by producing quality energy, providing comprehensive services to meet the changing needs of customers as well as developing business cooperation with strong partners both at home and abroad.
In other development, BGRIM is due to put its Bo Thong Wind Farm 1&2, with an installed capacity of 16 MW, located in Mukdahan Province, online commercially this month.
There are 48 BGRIM power plants in commercial operation. 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 by 2025 and further to 10,000 MW by 2030 in terms of power sale volumes with an annual revenue target of more than 100 billion baht.
BGRIM announced an interim dividend of 0.15 baht per share for the first half of 2021, payable on September 10 to eligible shareholders appearing on registration dated August 25.
Surge in Asia Pacific’s largest manufacturing centres driven by global demand
China strengthens its leading position as the most attractive manufacturing hub globally; Thailand sees improvement in cost profile
Asia Pacific’s largest manufacturing centers have rebounded strongly as economies across the globe have reopened and driven demand for key products, according to Cushman & Wakefield’s 2021 Global Manufacturing Risk Index, which assesses the most advantageous locations for global manufacturing among 47 countries in Europe, the Americas and Asia Pacific.
Dr. Dominic Brown, Head of Insight & Analysis, Asia Pacific at Cushman & Wakefield, said, “As the virus is brought under control, manufacturing centers have surged. China has been able to fill the void left by U.S. and European manufacturers, who were enduring their own lockdowns, to capture a larger share of global exports from approximately 13% in 2019 to 15% in 2020. Furthermore, exports from China in Q1 2021 were about 27% higher than Q2 2019, or the equivalent of USD 150 billion.”
“Other markets also capitalized on heightened demand for key products such as micro-processors, computer chips and pharmaceuticals. South Korea has benefited from the soaring value of semiconductors, stemming from strong demand and a global shortage of product with Information and Communication Technology (ICT) manufacturing up 16.8% year over year in January 2021. However, apparel producers around the region continue to struggle with low levels of demand impacting markets such as India and Indonesia, which have also been managing significant second and third waves of the virus,” noted Dr. Brown.
Within mainland China, two clear trends have been underway: (i) manufacturers moving up the value chain following large-scale investment into robotics, artificial intelligence and blockchain; and (ii) manufacturing of lower order goods moving outside of the country, predominantly into Southeast Asia. There has been a 5% increase in Jakarta’s industrial stock in the last year alone. There has also been increasing interest in India, especially given the country’s proven success in meeting outsourcing requirements.
Furthermore, Vietnam has become an increasing focus for manufacturers due to its regional centrality, sublime market integration, and favorable production costs – with Samsung, Apple, Nintendo, LG, Panasonic and Intel all locating in the country. Vietnam is also moving up the value chain, positioning itself as very attractive for mid-tech with its electronics sector.
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On this year’s baseline rankings, Thailand rates favourably on cost competitiveness. The country’s cost profile improved, moving Thailand to fifth place from the eighth and ahead of Malaysia, which has seen ongoing wage increases, the report noted. Gareth Michael Powell, Senior Director at Cushman & Wakefield, Thailand, said, “The Thai manufacturing sector has expanded in 2021 on improved domestic demand, a rapidly growing e-commerce sector, recovery of world trade volumes, and government-driven growth from budget disbursements and economic stimulus measures. We are optimistic about Thailand’s industrial property market outlook, given the upturn in external goods demand and exports remaining a key pillar of economic strength.”
2021 Manufacturing Risk Index Rankings – Key takeaways
Cushman & Wakefield’s annual Global Manufacturing Risk Index (MRI) scores each country against 20 variables that make up the three final weighted rankings which cover conditions, cost, and risk. The data underpinning the MRI comes from a variety of reliable sources, including the World Bank, United Nations, World Economic Forum and Moody’s Analytics.
Based on the analysis, China took the number one spot across all the four rankings, strengthening its leading position as the most attractive manufacturing hub globally.
• Bounce Back Rating: China and Singapore placed first and sixth respectively on The Bounce Back rating, which measures a country’s ability to restart its manufacturing sector. As business conditions continue to improve and with vaccinations underway, economic growth forecasts are generally being revised upwards.
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• Baseline Scenario: China retained the top position on the baseline scenario ranking as it continues to diversify its manufacturing base, moving up the value chain in order to focus on telecom, high-tech (40% of robots produced globally are made in China), and computers. Key manufacturing regions in China include Guangdong and Jiangsu, which focus on electronic components and automotive, while Zhejiang and Liaoning focus on chemicals and natural resources.
• Cost Scenario: While China also retains its lead position in this scenario, Vietnam and India were overtaken by Indonesia which moved up to second from fifth place, not least in part due to Jakarta’s declining rents seen over the past year. India also swapped places with Vietnam to rank third and fourth respectively. While wage costs in Vietnam remain cheaper than China, it is facing increasing competition from lower cost locations and will need to demonstrate its strengths in other areas of the manufacturing process, such as its geographical connectivity. Like Indonesia, Thailand’s cost profile improved this year, helping it move to fifth place and ahead of Malaysia, which has seen ongoing wage increases.
• Risk Scenario: Early and effective lockdowns to control the first wave of the pandemic helped China’s manufacturing sector rebound after Q1 2020. Strong performance of its manufacturing sector during the rest of 2020 contributed to a “better-than-expected” first place ranking on the risk scenario. The U.S. and Canada were pushed back to second and third place respectively while China jumped up from fifth place last year.
“The current pandemic has accelerated the growth of e-commerce while also exposing vulnerabilities in global supply chains. It is imperative for manufacturing companies to reassess current supply chain strategy and infrastructure to improve their resilience and stay competitive.” noted Tim Foster, Head of Supply Chain & Logistics Advisory, APAC, Cushman & Wakefield.
“A post-Covid-19 future is likely to see a heavier reliance on sophisticated technologies and tools that facilitate Industry 4.0, as companies seek to stay resilient, ensuring a wider diversification with smaller, geographically distributed manufacturing plants that are more resistant to disruption. With these advances, property developers are challenged to stay ahead, reshaping how facilities are designed and operated as they cater to the expansion of e-commerce as well as adopting a more holistic approach towards ESG considerations to address the growing group of environmentally conscious real estate users.” added Dennis Yeo, Head of Investor Services, APAC, Cushman & Wakefield.
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Looking ahead, ESG due diligence for suppliers has become an increasingly important part of a manufacturers’ risk management. In addition to protecting manufacturers from any losses incurred due to natural disasters, growing consumer consciousness about the impact of certain sourcing practices on the environment is feeding into decision making. In Europe, green consumerism is growing fast with nearly 800,000 products now displaying the EU’s Ecolabel logo. For this reason, Asia Pacific will need to follow Europe’s lead to help maintain the attractiveness of the region and help counter potential decision making to reshore or nearshore manufacturing out of the region.
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