The Fuel Fund Executive Committee is expected to increase retail diesel price by one or two baht next week as the fund’s deficit has soared to over THB60 billion, a well-informed source said.
The source said the committee, chaired by Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow, is now considering the next increase after the price was raised by THB2 to THB32 per litre on May 1.
The source said the next increase would be inevitable as global oil prices are still rising.
As of May 3, the Oil Fuel Fund was still subsidising diesel oil price at THB10.21 per litre, the source said. Without subsidy, the retail diesel would have been THB40, the source added.
“Next week, diesel price may rise by THB1 or THB2 per litre,” the source said.
“Money is flowing out of the fund at about THB10 per litre of subsidy. The fund is using about THB20 billion for the diesel price subsidy. Although the government has borrowed THB20 billion to top up the fund, it will be used up within a month,” the source said.
According to the source, the Oil Fuel Fund has a bank deposit of THB780 million and THB11.575 billion deposited with the Comptroller-General’s Department as of May 1.
He said the fund now has an accumulated deficit of THB60.993 billion — THB28.217 billion deficit for oil subsidy and THB32.776 billion for gas.
In April, the fund spent THB22.242 billion in subsidy — THB20.779 billion for oil subsidy and Bt2.174 billion for gas.
(PR News) The cooperation between giants in their respective industry, digital assets and art, represented by Jirayut Srupsrisopa from Bitkub, Yaovanee Nirandorn founder of well-known Art Museum 129 and 129 Art Advisory, Piriya Vachajitpan co-founder of Thai Art Collector Association bring us Thailands’ first advance Phygital art auction.
Aseamless integration of Digital NFT arts in the virtual world and Physical arts in the real world. This event gives an amazing opportunity for artists to develop new artworks while also expanding the art industry to transcend time and imagination.
In this event, the winner of the auction will not only receive their winning NFTs but will also receive physical arts by well-known artists who have been specially selected for this event. For example, Sakwut Wisetmanee, Thailand’s No. 1 portrait artist, will produce a painting for one winning bidder. His work is characterized by powerful and quick-tempered lines that maintain the tone of the model’s drawings, bringing the artwork to life with an outstanding sense of feeling. Kamin Lertchaiprasert is a Thai artist who has gained an international reputation. His collection includes a rare work that was painted more than 30 years ago during his time studying in New York City. Angkarn Kalayanapong, a deceased national artist, direct disciple of Silpa Bhirasri, who was known as the “Father of Modern Art.” Thongchai Srisukprasert, beloved by many art enthusiasts, is a well-known artist who applies and transforms Thainess to be in line with the contemporary world.
Line Censor (Kiatanan Lamchan) was the first Thai artist to enter the world of NFT and was extremely successful, setting records in prices both on international and Thai platforms, gaining recognition and fans from all over the world. An artist with a philosophy degree, Niam Mawornkanong creates works full of perceptions. Congenital color blindness causes the colors that appear in each of his pieces to appear unusual and fascinating in a way that no other can replicate. Yuree Kensaku, a well-known female artist from her unique and colorful characters designed, but within that colorfulness contains a strong societal perspective. Lastly, Jiggy Bug (Chaiporn Panichrutiwong) is an respected artist whose work is well-known and widespread in the field of animation.
This auction is run by The Art Auction Center, a successful art auction company in Thailand that has made a phenomenal record amounted to almost 80 million baht in the previous two auctions.
KUB M Gallery
The cooperation between Bitkub NFT and The Art Auction Center enhanced the new dimension of art auction by combining the physical and digital world together via the art auction event called “FOMO NO MORE”. The first time with KUB M Gallery to experience the new way of art with an area displayed several authentic arts at Bitkub M Social Emquatier and allow the users to check the auction detail, bidder list, price per bid and specify the bidding amount at each time on Bitkub NFT platform.
In addition, the bidder can exclusively see the NFTs before the auction event started from May 1-7, 2022 at Bitkub M Social Emquatier Helix Building 9th floor. Users can also participate the final auction day on May 7 at this location (registration starts from 1-4pm and the auction start from 2pm). Within the event, the QR code will be displayed on the monitor for bidder to scan and access to Bitkub NFT platform.
(PR News) Search engine optimisation, or SEO, is a valuable part of online marketing for any company. Since few companies can operate their own digital marketing strategies, hiring an SEO company to assist with strategy creation has become commonplace.
It can be difficult for those looking to hire an SEO company to know which agencies will be the best fit for your business’ needs and provide you with top quality services. This article will give you an overview of qualities that you can find in the best SEO companies.
They have a great portfolio
One of the best traits to look for in an SEO company that you are looking to hire is a great portfolio of past work. Looking at their previous work will give you an idea of the quality of their services and the kinds of services they have succeeded in providing.
A great way to see if an SEO agency will be a good fit for your business is to see if they have worked on projects similar to yours in the past. You can examine their portfolio to look for the kinds of services you are interested in and be confident that they can do the same for your company.
They don’t guarantee results
Another trait of the best SEO companies is that they don’t guarantee results. Any digital marketing expert knows that developing a good SEO strategy requires a bit of trial and error, even for experts.
Both customers’ needs and search engine algorithms are constantly changing. There is no guarantee that a particular approach will always result in a particular place in search results or a specific increase in website traffic. You want to be sure that you are working with a company that is upfront about this and not trying to get new customers by setting unrealistic expectations.
They are transparent about services
Another way to tell a great digital marketing agency is by looking at their level of transparency when they give you a consultation. A best practice in hiring any SEO company is to ask them questions about their approach and how they will handle your online marketing needs.
They should clearly answer your questions and provide you with clarity about their process. SEO is not magic, and there is no secret to how it works, so be wary of any SEO companies that are secretive about how their services work.
Find the best SEO company for you
There are many great SEO agencies out there to choose from. To get the best out of any SEO company, look at their portfolio, check that they don’t guarantee results, and make sure that they are transparent about the services that they offer. Follow the tips above to ensure that you work with a quality company that will meet all your online marketing needs and provide you with a great customer service experience.
Muang Thai Life Assurance Plc (MTL) won the Best Brand Performance on Social Media in the insurance category at the 10th Thailand Zocial Awards on February 22.
The award was organised by Wisesight (Thailand), the country’s number one social media analytics service provider. Wisesight CEO Kla Tangsuwan handed out the award to MTL Chief Executive Officer Sara Lumpsum at MTL headquarters in Bangkok’s Huai Khwang district.
This award was granted to brands that showed outstanding performance on social media, including Facebook, Instagram, Twitter and YouTube, based on the organiser’s Wisesight Metric criteria and judged by experts from various circles.
•With over THB 200 millions investment prepared for 2022, the super regional shopping centre is set to join forces with its partners for some incredible activities and campaigns as a thank you to their customers, reaffirming the status as Eastern Bangkok’s leading shopping centre. •Furthering their journey with “Megacity”, the THB 67 billion-mixed-use project is being developed to be the city of the future for all.
SF Development Company Limited, the management of shopping centre is all geared up for the glorious celebration of the shopping centre’s 10th anniversary. Throughout its awe-inspiring first decade, Megabangna has already welcomed more than 500 million visitors.
It stands side by side with the community and is a significant driving force behind the development of the Bangna area as well as people’s quality of life. Their next chapter will encompass the future developments of Megabangna and Megacity, including special activities and promotional campaigns held in celebration of the shopping centre’s 10th anniversary throughout May of 2022.
Palinee Kongchansiri, President of Megabangna Shopping Centre and Megacity, expresses her thoughts on this great milestone.
“Over the past 10 years, Megabangna has been such an inspiring phenomenon within the retail industry. The project successfully transformed an empty plot of land on Bangna-Trat road into Southeast Asia’s largest low-rise shopping centre. Such an achievement is made possible largely due to the visions of our top executives who strive to create, not just a shopping mall but ‘Your Everyday Meeting Place’ to answer the needs of all customer groups. Their wish is for Megabangna to curate experiences that no other shopping malls can offer.
“Our strength is the massive piece of land, which can accommodate many more new developments and additions, both commercial and non-commercial.
Mega Park is one example. Building an expansive 7-rai park within our shopping centre area was unprecedented and something no other urban shopping malls had ever done. The park is created as a new green space of the Bangna area. It welcomes everyone, free-of-charge with a hope to become a new hangout space for the Bangna residents.
We keep ourselves fresh and exciting to best fulfil our customers’ demands and expectations, from the renovation of our landscape and facilities, keeping ourselves up to date with our tenant mix and the latest trends, as well as hosting marketing campaigns and activities with collaborations with our amazing partners.
All of these qualities are what make Megabangna the perfect Meeting Place for everyone. This is where people spend their quality times, whether byself or with their loved ones, because we have everything to cater to their every need, from shopping, dining, enjoying our impressive cinematic facility, to healthy activities such as exercising, or a simple hanging out with friends. We offer activities that have become a part of people’s everyday lifestyle, and with what we have to offer, Megabangna has risen to be one of the most popular and one of the first shopping malls to be top of mind for Thai people.”
Even during the years of the Covid-19 pandemic, Megabangna has been able to adjust its strategies to pull itself through the worst of the crisis. With the shopping centre reopened, we are able to rebuild customers’ trust, ensuring that our services and operations are carried out under all the required health measures. In 2021, we welcomed over 42 millions visitors and new tenants including the premium tier brands such as CHANEL FRAGRANCE & BEAUTY, GUCCI BEAUTY, DIOR COSMETICS, YSL, YUZU SUKI, KAM’S ROAST, and THONG SMITH, to name a few, who bring their establishments to Megabangna, extending our 100% occupancy rate.
The three strategies to our success include:
1. EVOLVING TENANT MIX: At the core of a “Successful Retail Destination” is the management of a constantly evolving tenant mix. Megabangna always keeps our tenants’ stores fresh and up to date, keeping up with our ever-changing customer behaviours and trends. Our intention is to make Megabangna a ‘One-Stop Shopping Destination,’ which answers to the lifestyles and needs of people from all generations.
We are home to five key anchors. The partners we consider to be the prominent magnets that bring more visitors into our shopping centre.
1. IKEA: The world’s largest furniture retailer from Sweden that chooses Megabangna to be the home of its first store in Thailand. 2. HOMEPRO: Thailand’s number one home improvement centre with a comprehensive range of products from home decoration items to electrical appliances and furniture. 3. CENTRAL@MEGABANGNA: Repositioned from Robinson Department Store, Central@Megabangna can accommodate the lifestyles of Megabangna’s clientele with increasing demands for more premium products and services. A plan is also currently underway for further expansions in the near future. 4. BIG C EXTRA: The hypermarket brand that offers a comprehensive range of everyday consumer products at affordable prices. 5. MEGA CINEPLEX, BLU-O BOWL, SUB ZERO ICESKATE: The entertainment complex for everyone.
Megabangna’s customers will also be able to enjoy new experiences from a number of new stores such as CAMPER, MOSSIMO, SAEMAEUL SIKDANG, MOS BURGER, OHKAJHU, SUSHIRO, ACE, AMD, YAKINIKU LIKE, and DYSON DEMO. Meanwhile our existing tenants have renovated their shops, keeping the retail spaces and shopping experiences fresh and exciting.
2. NEW & NOW EXPERIENCE: Megabangna never rests on our laurels. We continue to develop and offer new customer experiences. At Megabangna, shoppers are kept informed about the new trends while being granted incredible benefits and privileges, especially the members of Mega Smile Rewards. With our special ‘365-Day Marketing Campaign,’ the members can collect the “smile” points, which can be redeemed for a wide range of rewards or discounts.
Megabangna, together with our business allies and tenants, will be hosting a variety of marketing activities all year round, bringing our shoppers the best possible benefits and shopping experiences.
The gifts we have prepared for our campaigns are all carefully selected, trendy and high quality items. The plans we have been preparing for this year’s holiday seasons be it the New Year, Chinese New Year or Songkran Festival will turn the shopping centre into one massive festivity with performances, activities and themed decorations for every family member to enjoy their time as well as some Instagram snaps and Facebook check-ins. All the activities and spaces are curated to embody our concept that Megabangna is more than just a shopping mall but everyone’s everyday meeting place.
3. SUSTAINABILITY & ECO-FRIENDLY OPERATIONS: Attracting and managing a massive amount of visitors is both a challenge and a mission for every staff member at Megabangna. With this in mind, Megacity is developed to become a large-scale community with a new lifestyle that will distinctively set Megabangna apart from other shopping centres.
With our vision, the project will bring sustainability to the traffic of visitors. Having an expansive 400-rai land on such a strategic location with great economic potential is certainly an advantage, which allows Megabangna to turn the vast undeveloped space into a perfect city. In 2017, Megabangna announced its plan for the development of Megacity. The THB 67 billion-mixed-use project will be home to residential projects, office buildings, schools, hotels, entertainment complex and many other attractions with Megabangna Shopping Centre sitting as the hub. Once completed, the project is expected to draw an average of 250,000 visitors per day, generating a dynamic traffic that will circulate within Megabangna and Megacity. By carefully and thoughtfully mapping out the project as one big picture, Megabangna and Megacity will be moving toward a sustainable growth and trajectory.
Megacity is a long-term investment. The project has received overwhelming interests from our business allies and leading real-estate development companies, who recognize the potential and opportunities that Megacity has to offer. 40% of the project has now been completed, with other components currently underway such as the Mega FoodWalk extensions, which will be accompanied by an additional parking facility with 1,200 parking spaces and 30 new restaurants. The new addition also includes IKEA’s 8-story high, 2,000-car park building connected to the IKEA Store. These new facilities altogether increase Megabangna’s parking capacity to accommodate up to 12,000 vehicles at a time.
The Mega Smart Kids Zone now houses more than 20 educational institutes, not to mention the gigantic indoor playgrounds inside Mega Harborland and Mega Park. Megacity is also home to Didyasarin International Primary School, two condominium projects, one of which already finished the construction and in the handover process while the other condominium project is expected to complete within 2023.
Megacity has also recently welcomed Southeast Asia’s first TOPGOLF. The sports entertainment complex will occupy 29-rai space inside Megacity and serve as a new attraction and hangout space, not just for golf enthusiasts but everyone. TOPGOLF will bring together gaming, sports and mini golf facilities, with restaurants serving both Thai and international food, including the rooftop sports bar, offering a new lifestyle space for all. Scheduled to open in the third quarter of 2022, TOPGOLF is believed to be one of our key magnets with the ability to attract diverse groups of visitors with its never-before-seen sports and entertainment experiences.
“The development of Megabangna and Megacity is still our company’s main focus. Another upcoming project is the expansion of Central@Megabangna. With the additional 10,000 square meter space, the entire retail space will be revamped with more organized zoning of products and services to deliver the best possible shopping experiences. The new extension will also welcome the Central Food Hall with a wider range of products and services to answer to our customers’ increasing and diverse demands. Additionally, with our location being close to Suvarnabhumi Airport and several industrial estates in the eastern region, Megacity will be an ideal project for investors. We are currently in talks with our new partners over the development of a business hotel, which will sit on a 13,000 square metre-land inside Megacity.”
Eco-friendly operation is one of the essences of how Megabangna is managed. Over THB 1 billion has been invested on the development of energy conservation projects and community green spaces, coinciding with our intention for the shopping centre to coexist with the neighbourhood and its people, and together create a better quality of life.
Our contributions in the protection of the local and global environment include the minimized use of chemicals with the in-door air conditioning system to reduce health risks and maximize the safety of our staff while maintaining a more positive impact on the environment.
The 17,000 solar cell panels installed on the expansive 60,000 square meter surface of the shopping centre’s roof will produce the maximum solar power of 13-million kilowatt-hours per year and reduce carbon dioxide emission up to 8.3 million kilograms per year.
Consequently, this will cause the air conditioning system to consume 20% less electricity. The construction of a new, internationally standardized wastewater treatment plant with chemical-free membrane technology will produce treated water with a good enough quality to be used in watering plants and cleaning inside the shopping centre, and lessen over 100,000 units from the total annual water consumption.
Included in our new extensions are more green spaces that are open to the public, free of charge. Our Mega Park, which is sited on 7 Rai land (11,200 square meter), is intended to be a new local public park for the Bangna residents. The park includes play areas for children with playground equipment with high quality and safety standards as well as tree houses, fountains and artificial waterfalls.
The park also welcomes visitors with pets to use and participate in special activities without any fee. Not only that, the Mega FoodWalk’s extension is designed to be a semi-outdoor space with a beautifully curated landscape of rocky hills, streams and waterfalls.
The outer perimeter of Mega FoodWalk is revamped into a landscape with the Scandinavian Playground concept, which consists of a massive playground with a Stream Valley where visitors can hang out and relax.
The Sand Dune Zone, which is open for children to play for free, is designed into a luscious, shaded area. All these green spaces and facilities serve as an urban oasis that Bangkok rarely gets to see. Despite being well aware of the commercial opportunities this space can bring, we choose to give this wonderful recreation ground to the community and our customers, in hope that it will become a place where family members spend their quality time together; a space everyone can truly benefit from and enjoy.
In celebration of Megabangna’s 10th anniversary, over THB 20 million worth of marketing budget will be spent on our special campaigns and promotions as our way of saying thank you to our customers who have been supportive of us throughout our amazing first decade.
In the month of May and July of 2022, every spending made at Megabangna (under the set terms and conditions) will grant each shopper a chance to win over THB 2 millions worth of prizes. The top prizes include a Honda Accord 1.5 TURBO EL (THB 1,499,000), a Leica Q2 camera (THB 197,000), THB 50,000 worth of IKEA gift voucher and ten other amazing top rewards.
We also prepare the special campaign, Surprised Weekend!, for the May 7th and 8th 2022 weekend. Every shopper who shops at Megabangna has a chance to be the winners of the THB 100,000 worth surprise from the 10 participating stores.
During the weekends throughout the month of May, all the stores at Megabangna will be offering double privileges for every shopper. The first privilege includes special shopping discounts, premium gifts or special menus when dining at over 80 participating stores and restaurants under the set terms and conditions. The next privilege comes in the form of a special collection of premium gifts customized for the celebration of Megabangna’s 10th anniversary, gifted to customers whose purchases meet the set terms and conditions.
Joining the celebration of Megabangna’s birthday, the members of Mega Smile Rewards will be gifted ten times the point on every spending made only on May 5th, 2022. This exclusive offer will apply only to the first 100 customers (with no more than THB 100,000 purchase for each client). In addition to the promotional campaigns we have in store for our customers, Megabangna will also be preparing our shopping centre to welcome everyone with incredible decorations and fun activities, bringing everyone the ultimate shopping experiences, every weekend throughout the month of May.
“‘We Create a Better Everyday Life for the Many People’ is still the vision and mission in the past ten years for all of us here at Megabangna. It is our dream and goal to create a place for people and the community to grow alongside our business, with our support and through our endeavor to bring a more sustainable, and greater way of living for Thailand and its people. Megabangna will continue to move forward and develop our work and projects to help the Thai retail market compete in a global arena with great strength and pride,” concluded Palinee.
The Department of International Trade Promotion (DITP) will celebrate the 10th anniversary of the creation of the Thailand Trust Mark (T Mark) certificate by stepping up promotions of 229 products that have earned the T Mark, the department’s chief said.
DITP director-general Phusit Ratanakul said on Tuesday that 229 Thai manufacturers have earned the T Mark during the past 10 years.
“This year, the DITP will hold promotion activities to ensure recognition of Thai products with T Mark certificate so that they will be widely known in Asia and Oceania, especially in the Chinese and Indian markets,” Phusit said.
He said China and India topped the list of five countries that imported products with T Mark.
Among the planned activities, the DITP will hold an event in Kunming in China this year to promote the T Mark sign and it will also select some products with T Mark certificate to be displayed in leading department stores in India, Phusit added.
The director-general said products certified as T Mark must meet international standards in terms of quality, and their production process must be environmentally friendly while the hiring of workforce must be fair.
Phusit said the T Mark certificate will give foreign buyers the confidence about the quality and origin of the goods.
He added that Thai manufacturers would be encouraged to follow the Bio-Circular-Green Economy model to be eligible for T Mark.
Thailand and Japan pledged closer economic cooperation and the visiting Japanese prime minister promised an investment in the electrical vehicles industry in the Eastern Economic Corridor this year.
The pledges were made on Monday when Prime Minister Prayut Chan-o-cha discussed economic cooperation plans with Japanese counterpart Fumio Kishida.
According to Thai officials, the two sides discussed and agreed to draft a five-year plan for economic cooperation as soon as possible to develop their economic partnership. The five-year plan will be used for driving economic cooperation between the two countries.
Prayut also pledged support for the Asia-Japan Investing for the Future (AJIF) initiative of Japan. The Japanese prime minister said the initiative will see Japanese entrepreneurs invest more in the EEC, and especially in the electric vehicle industry.
The Japanese prime minister said Thailand has potential for investments by Japanese firms and Thailand is considered by Japan as the most important investment base in Southeast Asia.
Fumio also said during the meeting that Japanese carmakers would continue to use Thailand as their manufacturing base and would focus on making advanced vehicles.
The two prime ministers agreed to work towards advanced human resources development. Fumio said Japan would build more Kosen (National Institute of Technology) branches in Thailand.
Japan will also cooperate with Thailand to develop infrastructure and develop clean energy technology to promote carbon zero-emission that would benefit Japanese investments in Thailand in the long term, Komio was quoted as saying during the meeting.
EEC Office deputy secretary-general Phet Shinabutr said Japan aims to invest THB25 billion in the EEC this year, compared to THB19.8 billion last year.
Prayut thanked Komio for providing aid and support in various forms to Thailand to mitigate the impact of the Covid-19 crisis. Prayut expressed appreciation for Japan’s donation of Covid vaccines, oxygen-generating machines, and equipment for storing vaccines as well as providing soft loans to Thailand to mitigate the Covid economic impact.
Owners of fishing boats in Trang province have gradually berthed their fleet after the retail price of diesel oil reached THB32 per litre.
Asurvey by The Nation found that more than half of the fishing boats operating from the Yimsia fishing pier in Trang’s Kantang district had stopped going out to the sea as the owners could not bear the fuel costs.
Subin Ketrat, who owns a fleet of trawlers, said that commercial fishing boat owners were in trouble due to the rise in diesel price, because each fishing trip by their fleet consumed a lot of fuel.
Subin said he has four commercial fishing trawlers and 13 smaller boats with lighting bulbs to attract fish to be caught by the trawls.
For each trip, he deploys a fishing boat and three lighting boats. Each trip would require about 25,000 litres of diesel, so fuel cost for each trip would amount to THB800,000, excluding the cost of ice, foods for fishing crew and wages.
He said each boat is manned by some 30 workers and he has to pay the wages in advance.
Subin said each trip needed to return with catches worth at least THB1.5 million to allow him to stay in business but the fishes are increasingly harder to find.
Subin said he had to berth half of his fishing boats, like other owners, because of the high fuel cost.
Even worse, Subin said the catches did not fetch a good price because it seemed consumers do not have much buying power.
Some fishing crew said they fear that their employers would be out of business and they would lose their jobs.
A fish vendor also complained that fishing boats did not return with enough fish for her to buy for reselling in Pattani like she used to earlier. She said she has concerns that fishing boat owners might stop their business because of the rising oil prices.
The baht opened at 34.46 to the US dollar on Tuesday, plummeting in value from Friday’s close of 34.22.
The Thai currency is expected to move between 34.35 and 34.55 during the day and between 34.10 and 34.60 during the week, Krungthai market strategist Poon Panichpibool said.
Poon forecast the baht would fluctuate and likely test the resistance level of 34.50 as the dollar strengthens before the US Federal Reserve’s meeting and gold buying transactions.
He advised monitoring foreign investments in the Thai stock market, adding that inflows could slow the baht’s weakening. However, foreign investors would likely wait for the results of the Fed meeting on Wednesday before making moves.
Poon advised Thailand-based businesses to use hedging tools such as options to manage risks in the highly volatile currency market.
The Fed is expected to signal an interest rate rise to 0.75 per cent on Wednesday. However, anything lower would likely trigger the dollar to weaken, Poon said.
Moreover, if the terminal rate marking the end of the Fed’s current hiking cycle moves to 3.75 per cent, US 10-year bond yields are likely to drop and put more pressure on the dollar to weaken.
However, the dollar is still supported by the Ukraine-Russia conflict and the Covid-19 situation in China, which are driving European and Asian currencies to weaken.
Nation Group (Thailand) Plc is optimistic of generating 800 million baht revenue this year and becoming profitable once it fully implements its One Nation strategy.
Nation Group CEO Shine Bunnag and vice chairman Somchai Meesen said they are confident the company will become profitable this year.
Speaking after a shareholders’ meeting on April 29, Shine said good progress is being made in restructuring the group’s businesses and its subsidiaries under the new strategy.
At the April 29 meeting, shareholders unanimously agreed to change the company’s name from Nation Multimedia Plc (NMG) to Nation Group (Thailand) Plc (NATION).
The shareholders also approved Nation Group’s purchase of 85.99 million shares, equivalent to 99.99 per cent of registered shares, of NBC Next Vision Co Ltd (NNV) at THB2.79 each from Nation Broadcasting Corporation Plc (NBC). The stake will cost the company THB239.72 million.
The Nation Group also gave NNV a THB221.30-million loan to repay its debt to NBC.
The transactions totalling THB461.02 million will be completed by July.
The shareholders also approved the sale of 691.03 million shares in NBC, a 61.46 per cent stake, at THB898.32 million to Nattapong Sitaworarat and Boon-ua Jitthanom. These transactions are also expected to be completed by July.
Shine said it was heartening to see that the shareholders of both Nation Group and NBC had approved everything on the meeting agenda.
He said these approvals will allow the Nation Group to go ahead with restructuring under the One Nation policy.
“This marks a new milestone for Nation Group as it steps forward to continue serving as a responsible, unbiased media company,” Shine said.
He said the aim of the One Nation policy is to synergise the workings of Nation Group’s eight media firms, namely Krungthep Turakij, Komchadluek, Nation Thai News, NationTV 22, The Nation Thailand, The People, Kob Sanam and Spring Online.
Under this synergy, the group’s media outlets will continue adhering to the code of ethics to help fight corruption, protect national and public interest as well as maintain professionalism with social responsibility, he said.
“We enter our 51st anniversary this year as a media group that has been standing by Thai people for a long time. We are the largest media group in Thailand and have always adhered to our ideology of being a media institute for the nation and the people,” Shine said.
NBC to focus on 3 businesses
Shine said NBC will use the THB461.03 million it has earned from the sale of its NNV stake for repayment of debt and to expand three businesses – media, home-shopping channel, and call centre.
The home-shopping business will focus on health products, the CEO said.
“Once the transactions are completed, Nation Group will become financially strong. We will have cash in our hands and be ready to expand,” he said. “The restructuring of Nation Group should be completed within May in line with the One Nation policy.”
Cashing in on synergy
Vice-chairman Somchai said Nation Group’s purchase of NNV shares has made the group’s structure clearer and leaner. Also, he said, with the restructuring, Nation Group can cut down on redundant costs.
“Apart from reducing unnecessary costs, the One Nation policy will also boost efficiency by bringing all arms of the group together. Under this synergy, they can all share resources for utmost benefit to Nation Group and NNV,” Somchai said.
He added that all media companies under Nation Group will link their online and offline platforms to earn more revenue. The group expects to record online income growth of at least 20 per cent this year compared to last year.
He said conventional media publications are still necessary for producing trustworthy content and for holding events, fairs and award ceremonies.
He said Nation Group expects THB800 million in revenue this year and should return to making profits again after a loss of THB118.07 million last year.
He reckons the Nation Group will realise a profit of about THB437 million from the sale of its shares in NBC and its investment in NNV.
Somchai added that Nation Group also plans to boost shareholders’ equity to over 50 per cent of paid-up capital so that the Stock Exchange of Thailand can remove the “C” or caution mark from the group’s stock sign.
As for the expected profits, he said Nation Group will use the gains to reduce its debt as much as possible. This way, he said, the group will be able to reduce its interest burden and make the company financially stronger. The company paid THB43 million in loan interest last year, he added.
Somchai said Nation Group will hire a financial adviser to help handle and clear accumulated losses of THB3.26 billion from its books so the group can start paying dividends to its shareholders in the future.
Branching out
Somchai also talked about the group’s new business venture – Nation Coffee.
He said Nation Group entered the coffee business because it has the potential to grow as people love drinking coffee.
The initial plan was to set up 10 Nation Coffee outlets, but it was put on hold due to the Covid-19 crisis. But now that the crisis is easing, Nation Coffee will look to open branches in co-working spaces, he said.
“We started the coffee business in June 2021. It’s normal for a new business to suffer losses. During the first six months of operation, Nation Coffee suffered a loss of THB1.75 million. But if we can have 10 branches, we will definitely return a profit,” he said.
Somchai also unveiled a plan to repackage The Nation’s 51 years of content into digital assets. He said the group has appointed Future Competere to design its token and NFT business, and more details will be available in the third or fourth quarter of this year.
Also, he said, under the One Nation strategy, the Nation Group will repackage its content to create documentaries that can be aired via the internet or other platforms.
He added that Thai manufacturers would be encouraged to follow the Bio-Circular-Green Economy model to be eligible for T Mark.
Subin said each trip needed to return with catches worth at least THB1.5 million to allow him to stay in business but the fishes are increasingly harder to find.
NBC to focus on 3 businesses
SootinClaimon.Com 