Thailand exported 149,284 cars in the first two months this year, down 2.8 per cent year on year due to a microchip shortage, the Federation of Thai Industries (FTI) reports.
The prolonged Russia-Ukraine conflict will exacerbate shortages in microchips and auto parts as Russia has halted exports of nickel, palladium and other raw-material metals, said Surapong Paisitpattanapong, FTI vice president and auto chapter chief.
Also, western countries were boycotting goods from Russia, he added.
The chip shortage came after Covid-19 sparked rising demand for electronic devices, Surapong explained.
“It will take two years for microchip manufacturers to expand production, so we expect the shortage to be resolved in 2024.”
The FTI forecasts Thai car exports in the first quarter and first half of this year will drop, Surapong said.
However, the FTI has retained its 2022 export target of 1 million cars compared to 950,000 last year. Thailand’s car production has dropped from 170,000 per month to 150,000 per month, he said.
The FTI was monitoring the Russia-Ukraine conflict’s impact on the economy and trade, as well as the impact of rising inflation on daily living costs, he added.
The Revenue Department has issued guidelines on the waiver of income tax on revenue earned from the transfer of cryptocurrency or digital tokens.
The guidelines focused on three points, namely:
1. Revenue or loss incurred from the transfer of cryptocurrencies or digital tokens must be calculated by an authorised digital assets exchange. The calculation of profits or losses must be based on the entire tax year. The price of cryptocurrency or digital tokens on the last day of the tax year will be applicable to the following year.
2. Earnings from the transfer of cryptocurrencies or digital tokens calculated by an authorised digital assets exchange must be recorded and checked by a related official. The report must contain the following information:
a. Initials of the cryptocurrency or digital tokens
b. Date and time of the transfer
c. Transaction type
d. Number of cryptocurrencies or digital tokens transferred
e. Price of the cryptocurrency or tokens transferred
f. Value of the cryptocurrency or digital tokens transferred in Thai baht
g. The cost of the transfer in Thai baht
h. The cost of the cryptocurrency or digital tokens
3. These regulations are effective from May 14, 2018.
Mikimoto, the No 1 pearl jewellery brand from Japan, captures the captivating beauty of pearls and exquisite craftsmanship with its Spring Collection 2022.
Mikimoto, the No 1 pearl jewellery brand from Japan, captures the captivating beauty of pearls and exquisite craftsmanship with its Spring Collection 2022.
For this spring, Mikimoto draws its inspiration from the cherry blossom, Japan’s national flower that symbolises achievement and strong willpower.
The delicate, ethereal cherry blossom petals are transformed into precious jewellery such as matching earrings, pendant and bracelet with lustrous Akoya pearls and sparkling diamonds – a perfect gift that represents eternal love for any woman.
Spring-time cherry blossoms are an inspiration for exceptional jewellery fit for ladies in search of timeless gracefulness.
The set, which comprises earrings, ring and pendant with lustrous, perfectly round South Sea white pearls and exquisite diamonds on a white gold setting, brings luxurious and charming air to the wearer.
Understated elegance and stylishness are Mikimoto’s renowned authenticity.
Earrings and a pendant featuring round and lustrous white Akoya pearls adorned on a rose gold setting make this collection exquisitely timeless and a match for sophisticated, modern women with minimal style.
Another matching set in the Spring Collection 2022 that draws inspiration from flowing lively blooms, the Dancing Lines, comprises earrings, ring and pendant constructed with white South Sea pearls on a white gold setting – an analogy to a strong, intertwined bond.
Another highlight is the Akoya pearl brooch with diamond and pink gemstone where perfectly round white Akoya pearls are placed with a delicate bee and petals of dazzling diamonds with precious pink gemstones – truly an accessory for every occasion.
Experience the refined beauty of the seasonal vibrance of the Spring Collection 2022 at Boutique Mikimoto, located at Level M of Siam Paragon.
B.Grimm Power Pcl (BGRIM) and True Corporation Plc have joined hands to pursue cooperation in digital innovation development for the energy business.
B.Grimm Power Pcl (BGRIM) and True Corporation Plc have joined hands to pursue cooperation in digital innovation development for the energy business.
The memorandum of understanding (MoU) signed by the two leading firms in their respective fields will prepare digital transformation to create a new economic ecosystem that aims to promote production potential and increase competitiveness for the private sector and new-era startups. They would work towards uplifting the energy industry in the digital age along with taking care of society and the environment in a sustainable manner.
BGRIM’s President, Dr Harald Link, said it is an honour to collaborate with the True Group, a robust partner in telecommunication infrastructure and digital ecosystem. He said they aim to tap the benefits of the True 5G intelligent network and digital technology to create cutting-edge innovations to boost efficiency in the management of electric power and clean energy that would not only help drive the Thai economy but also create value for society and the environment.
This cooperation conforms to one of BGRIM’s strategies of striving to develop various business models to support digital transformation in cooperation with leading local and international partners undertaken by a new generation of personnel to create long-term growth, and create value for society as well as elevate BGRIM to become a world-class energy producer, he noted.
Natwut Amornvivat, President of True Corporation Plc, said that the collaboration with BGRIM offers a great opportunity for the firm to expedite the transformation of Thailand’s energy business into a truly digital age and enhance the Thai energy industry to grow strongly and sustainably. The cooperation will see BGRIM and True working together in an integrated manner to exploit the potential of True Group’s comprehensive telecommunication and digital infrastructure, and the intelligence of the True 5G network to develop digital innovations.
These forthcoming innovations will bring about business opportunities and meet the needs of energy consumption in the household, business and industrial sectors to meet the rising energy demand while taking care of society and the environment, he said. The innovations are meant to achieve energy conservation, promote clean energy, mitigate environmental impacts from the generation and usage of electric power for a better quality of life for Thai people, thus fulfilling BGRIM’s mission to create energy security that will drive the economy and industry nationally and regionally, he noted.
The BGRIM-True collaboration will be in four key areas:
1. Development of Digital Infrastructure with Smart Energy
The two parties will jointly study and develop digital infrastructure, connecting the process of electricity trading in all sectors in a drive to realise the Smart City and Smart Energy-Smart Building concepts. BGRIM’s smart and energy-saving buildings are to serve as prototypes for system testing, which will be extended to serve external customers in the future.
In addition, a complete solution for energy-saving buildings will be developed, starting from power generation derived from renewable clean energy, applying optimum energy efficiency management technologies, such as the Property Integration System and True Smart Energy solutions that connect Internet of Things (IoT) devices via True 5G smart networks. Also covered in the work programme is designing buildings’ interior systems to be user-friendly, convenient and safe while reducing the carbon footprint or greenhouse gas emissions from various activities.
2. Development of 5G technology innovation projects and Smart Grid
This development is aimed at creating a knowledge base, studying and exchanging new technologies, and Smart Grid innovations through the True 5G network that will enhance the quality of Thai power plants under the concept of Industrial 4.0, Facility 4.0 and Smart Industrial Estate. The mission is to provide quality and stable energy supplies within offices and industrial estates under the supervision of BGRIM.
The Smart Grid System combines communication technology and digital technology with a circuit power system in stages from production to transmission and distribution of electricity to household, business and industrial sectors. The IoT technology is applied in the production, installation and maintenance phases. There is also a digital platform that uses artificial intelligence (AI) technology to analyse predictive analytics to provide early warning.
Meanwhile, Machine Learning technology helps prevent parts or equipment from being damaged and raises production efficiency. This will lead to good management, in terms of convenience and speed, and can also be applied to suit the needs and benefit the people, the government, and the industrial sectors effectively.
3. Developing a new economic ecosystem and promoting startups in Thailand
True Digital Park, billed as the largest tech and startup hub in Asean, will be instrumental in promoting startups through hackathon activities that promote innovations in the fields of energy, environment and sustainability. True Digital Park will facilitate knowledge-sharing events and seminars. Its ecosystem also opens up investment opportunities for startups in a drive to turn Thailand into a digital innovation hub to uplift the Thai energy industry for sustainable development.
4. Infrastructure development and energy management solutions
This collaboration is aimed at developing infrastructure and solutions to provide primary or backup power, an efficient cooling system for True IDC’s data centres. The two sides will create solutions to support energy management technologies, raising the proportion of renewable or clean energy, increasing energy consumption efficiency, while curtailing carbon footprint in various activities related to the businesses. This reinforces True IDC’s commitment to be the leader in providing green data centres and cloud services in Thailand with sustainability in delivering services to customers in the public and private sectors.
The collaboration between BGRIM and True will not only help drive the economy and society but also promote environmental stewardship. This is in line with BGRIM’s goal of becoming a net-zero carbon emissions organisation by 2050, in line with the company’s vision of conducting its businesses with compassion to create sustainable benefits for Thai society.
As clouds drift by in a blue sky, laden with flowers abloom in the beauty of spring, let TWG Tea delight you with its limited edition 2022 blend of Sakura! Sakura! Tea and enchanting Cherry Blossom Teatime Set for Two.
As clouds drift by in a blue sky, laden with flowers abloom in the beauty of spring, let TWG Tea delight you with its limited edition 2022 blend of Sakura! Sakura! Tea and enchanting Cherry Blossom Teatime Set for Two.
Beautifully handcrafted with notes of wild Rainier cherry and sweet rose petals, Sakura! Sakura! Tea is a green tea blend that yields the most aromatic and elegant infusion, enveloped by soft lingering hints of floral sweetness. Encased in the soft, luxuriant hues of pink and gold in a collectable tea tin, this marvellous blend rejuvenates and refreshes your mind and body with vitamin C, and anti-inflammatory and antioxidant properties.
To celebrate the blossoming Sakura season, indulge in a Cherry Blossom Teatime Set for Two at TWG Tea Salons & Boutiques from March 16 to April 30. Enjoy the flavours of spring with two Sakura! Sakura! Tea infused mocktails, accompanied by a choice of cake and two tea-infused macarons, served with a selection of hot or iced tea including Paris-Singapore Tea, Summer Palace, and Festive Night Tea.
A tin of Sakura! Sakura! Tea goes for 1,490 baht and is available at all TWG Tea Salons & Boutiques throughout April.
The Cherry Blossom Teatime Set for Two, priced at 590++ is available until April 30 at TWG Tea Salon & Boutique on the ground floor of The Emporium, Siam Paragon and ICONSIAM.
Siam Commercial Bank (SCB) appointed new CEO Kris Chantanotoke to oversee the strengthening of its financial business and ensure sustainable growth. Kris steps in from August 1 onwards.
SCB chair Vichit Suraphongchai said the appointment aims to ensure the company will achieve its target of becoming a regional financial group with good corporate governance in line with its “Mothership” strategy.
The appointment has been approved by the Bank of Thailand.
He said Kris was suitable for the job thanks to his experience and reputation in the finance, banking, sustainable management and insurance areas. Also, he said, as a new generation leader, Kris is armed with the vision to apply technologies to create changes in the business.
“Kris will bring knowledge and experience to help SCB become a better bank, as well as create sustainable growth for the company,” he said.
Kris will replace Arthid Nanthawithaya, who will step down as SCB CEO on July 31 but will continue as CEO of SCBX.
Vichit said the three SCB presidents – Sarut Ruttanaporn, Apiphan Charoenanusorn and Arak Sutivong – will also step down on July 31. They are currently CEOs of Card X, Auto X and SCB Securities, respectively.
“This change in top management aims to upgrade the organisation to becoming a regional financial technology group that can meet the new needs of consumers and can compete with world-class competitors,” he concluded.
Lim Hua Tiong commented that the mission of leading the development of One Bangkok until its completion is in line with Bangkok’s post-pandemic recovery strategy.
One Bangkok Co., Ltd., a joint venture between TCC Assets (Thailand) Co., Ltd. and Frasers Property Holdings (Thailand) Co., Ltd. announced Lim Hua Tiong as new Chief Executive Officer (CEO) – Development, One Bangkok, effective from 1 April 2022.
He will succeed Soon Su Lin, who assumes the role of CEO of Frasers Property Singapore.
Lim brings to this role a wealth of leadership experience, a strong business acumen and expertise in leading high-performing teams. He will remain CEO of Frasers Property Vietnam, a role he has held since May 2019.
Prior to joining Frasers Property, Hua Tiong held senior management positions in well-established real estate companies in Vietnam and Singapore for almost two decades, with a focus on township and high-end developments.
Mr. Panote Sirivadhanabhakdi, Group Chief Executive Officer of Frasers Property Limited
Frasers Property Group CEO Panote Sirivadhanabhakdi said Hua Tiong has broad experience and expertise in all aspects of real estate development, particularly in real estate investments, financing and managing mixed development projects.
“I’m confident Hua Tiong will lead the One Bangkok team well as we progress to the next phase of our journey to bring to life our vision of a fully integrated district that will revolutionise the way we experience the city and become an iconic global landmark befitting of Thailand’s standing on the world stage,” he said.
“I would also like to express my sincere appreciation to Su Lin for her strong leadership, dedication, and significant contributions to achieving several key milestones for One Bangkok over the past six years. I look forward to working closely with her to strengthen our Singapore business,” he added.
Hua Tiong commented that the mission of leading the development of One Bangkok until its completion is in line with Bangkok’s post-pandemic recovery strategy.
As a highly resilient megacity with robust urban infrastructure and the country’s economic engine, he said Bangkok is well-placed to recover quickly.
“We believe that the opening of One Bangkok in the fourth quarter of 2023 as a world-class centrepiece for quality hospitality, residences, workspace, art and culture, and retail experiences will play a key role in reviving the dynamism of Bangkok and Thailand, attracting investors, business, and leisure travellers from around the world,” he said.
He added that the mixed-use development of a large-scale and integrated project like One Bangkok requires the synergistic power of smart, motivated, and creative people from across different disciplines.
“My role will be to build on Su Lin’s legacy and continue to strengthen, empower, inspire, and connect all associates, encouraging close collaboration and interpersonal bonds between all team members towards our common goal,” Hua Tiong added.
Hua Tiong holds a Bachelor of Accounting degree from the University of Malaya and is a member of the Malaysia Institute of Accountants. He is also a graduate from the Management Acceleration Programme at INSEAD Business School in France.
The Public Debt Management Office (PDMO) reported on Friday that as of February 28, the country’s outstanding public debt stood at THB9.8 trillion, or 60.17 per cent of gross domestic product (GDP).
Of the total, 98.22 per cent is domestic debt, while 1.78 per cent is foreign debt.
The office said public debt comprised THB8.02 trillion of government debt, THB696.55 billion was debt of the Financial Institutions Development Fund, THB843.32 billion was debt of state-owned enterprises, THB259.94 billion was debt of Government Guaranteed Financial SOEs – which refers to a state enterprises that undertake lending business, asset management and credit guarantees – and THB7.06 billion was debt of other government agencies.
Earlier this year, the PDMO had estimated public debt at the end of fiscal 2022 would reach 62 per cent of GDP, on the expectation that GDP would expand 3.5 to 4.5 per cent year on year. This estimation is within the limit of the State Fiscal and Financial Disciplines Act, which stipulates that public debt should not exceed 70 per cent of GDP.
The PDMO added that if the GDP this year expands more than the estimation, the ratio of public debt will be lower.
The Tobacco Authority of Thailand is inviting applications for the post of governor. Interested persons can register at the Tobacco Authority of Thailand during business days between 8.30am and 11.30am and between 12.30pm to 4pm from April 1 to 29, 2022.
The Tobacco Authority of Thailand is inviting applications for the post of governor. Interested persons can register at the Tobacco Authority of Thailand during business days between 8.30am and 11.30am and between 12.30pm to 4pm from April 1 to 29, 2022. Documents are available for download here: http://www.thaitobacco.or.th
CP Foods applied Ultrafiltration (Ultrafiltration: UF) technology to improve water quality and clean water for new uses such as tools and equipment cleaning, water in the bathroom, specifically in areas that are not in contact with humans.
Charoen Pokphand Foods Public Company Limited (CP Foods) has applied technologies together with the 3Rs principle (Reduce, Reuse, Recycle) in an effort to increase efficiency in water management throughout the production process based on the Circular Economy principle for sustainable natural resources conservation.
Peerapong Krinchai, Executive Vice President – Corporate Engineering and Chairperson of the Working Group on Climate Change Management Water and Waste of CP Foods, said, the company recognizes the importance of water resources management for continuity in the agro-industrial and food business. In 2021, CP Foods was able to reduce its average water withdrawal per unit of production by 43% compared to the base year 2015. Also, the company reused and recycled 44% of the total amount of water usage. Moreover, the performance of water withdrawal per production unit in 2021 was better than the target set in 2025 which to reduce water withdrawal per unit of production by 30 percent.
To optimize water-use efficiency, CP Foods has applied the 3Rs principles , including Reduce-Reuse-Recycle by using water from treatment system for non-production-related activities in the livestock feed business, such as watering plants, cleaning road surfaces, etc. CP Foods applied Ultrafiltration (Ultrafiltration: UF) technology to improve water quality and clean water for new uses such as tools and equipment cleaning, water in the bathroom, specifically in areas that are not in contact with humans. The company also applied Reverse osmosis technology to filter water from the water treatment process and to reuse in evaporative system in the cooling system.
The company adopts multiple new water-saving solutions and innovations such as replacing Water Chill system with Air Chill system for reducing the temperature of the chicken in the production process which can reduce water usage by about 15 percent compared to the original production.
In the company’s aquaculture business, two closed shrimp farms namely Bang Sra Kao Farm in Chanthaburi province and the Roi Petch Farm in Trat province has adopted the biofloc system. The biofloc is a group of microorganisms capable of treating waste and shrimp excreted in the pond, resulting in reduced water usage. Meanwhile, UF technology can filtered the treated water and circulated back to shrimp pond. The system reduces the need to change water in the ponds, leading to 75% reduction of the amount of water withdrawal for the shrimp farming. In conclusion, the company ‘s water withdrawal per production unit was reduced from 17.3 cubic meters per ton to 15.28. cubic meter per ton in 2021.
Peerapong added that CP Foods has announced the Sustainable Environment Goals 2020-2025, with the target of reducing energy consumption per production unit by 15%, reducing the amount of water used per production unit by 30%, reducing the amount of waste disposal to landfill and incineration per production unit 35% and reduce the amount of greenhouse gas emissions per production unit by 25%. To attain these sustainability goals, the company carried out various projects including phasing out coal fuel in its production process in Thailand by 2022 (Coal Free 2022) and promoting renewable energy in the production processes. At present, the Company has the proportion of renewable energy to 27 percent of the total energy consumption.
Moreover, CP Foods operates its business with an emphasis on sustainable environmental operations. In addition to maximizing the use of water resources, the Company has also carried out a conservation and restoration of watershed forests project of the CPF Rak Nives at Phraya Doen Thong Mountain Project, covering an area 6,971 rai, which is currently entering the second phase of the project (year 2021 – 2025).
Mr. Panote Sirivadhanabhakdi, Group Chief Executive Officer of Frasers Property Limited
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