KING POWER GROUP joins tourism boosting PHUKET SANDBOX campaign
King Power Group, in supporting the Tourism Authority of Thailand (TAT), joins the tourism boosting PHUKET SANDBOX initiative by offering incoming tourists countless exciting benefits from the group’s businesses and services.
Accentuating the “Vaccinated & Hygienic” slogan, King Power never ceases to surprise the world as a global leader in the travel and retail business whose “new normal” travelling ethos is set to assure travellers’ confidence.
On the occasion of King Power’s participation in the Phuket Sandbox campaign on July 1, 2021, Apichet Srivaddhanaprabha, assistant chief operating officer of King Power Group, commented that “King Power Group is ready to help boost the country’s economy which has faced a setback due to the Covid-19 situation by focusing on tourism as a key strategy, as we can see in the launch of PHUKET SANDBOX project. King Power, as a private company, is already participating in several national-level campaigns to promote Thai tourism, such as the “Thailand smiles with you” project which emphasises the unique Thai smile as a significant “welcome to Thailand” reference in the mind of tourists. Our latest contribution is the participation in the tourism-boosting “Phuket is now open” campaign which is organised under the “Amazing Thailand, Now even more Amazing” concept. This campaign makes use of sport to attract tourism – Sport tourism – through three football players of Leicester City FC, this year’s FA Cup champions. They appear in the promotional video “Amazing Moments in Phuket” which will be broadcast in foreign media as an initiative to attract targeted travellers to visit Phuket as part of the PHUKET SANDBOX project.
For the reopening of Phuket’s door to tourists, King Power, as a global leader in the travel and retail business in Phuket, joins the government’s PHUKET SANDBOX campaign and stresses its role as the key player in the business.
The new measure “SAFETY SHOPPING at King Power Phuket” is here to ensure that travellers who pass the COVID-19 screening protocol at Phuket International Airport will shop with confidence at King Power retail stores and services in the terminal, since we strictly follow the KING POWER CARE POWER hygiene measures and practise D-M-H-T-T (Distancing, Mask-wearing, Hand-washing, Testing temperature, and ThaiChana tracing app).
Staff members on duty are fully vaccinated according to the tourist service protocol, and are trained to strictly follow virus-prevention measures.
King Power Phuket’s downtown store is also ready to serve with confidence under the SHA-plus public health measure according to Phuket City administration and Tourism Authority of Thailand. Our downtown staff members are also fully vaccinated. Strict hygienic measures are carried out in all service areas.
Under the campaign “KING POWER PHUKET SANDBOX: Shop Eat Play Stay Safe”, we aim to stimulate tourists’ spending by offering promotional benefits in all our businesses and services in order to accentuate the image of Thailand as the ultimate shopping and dining paradise.
The campaign pampers tourists with discounts and exclusive premium offers in all King Power stores, accommodation, restaurants and attractions and includes:
• 1,000 baht discount coupon for the purchase of selected duty free products of which the net price is 3,000 baht or more, and 500 baht-discount for the purchase of selected souvenirs of which the net price is 1,500 baht or more. This promotion is available at King Power tax free shop, Phuket International Airport.
• 2,000 baht discount for the purchase of selected products and minimum spending of 6,000 baht at King Power duty free shop, Phuket.
• 1,000 baht discount coupon for the purchase of selected duty free products of which the net price is 3,000 baht or more, and 20% discount when purchasing home delivery products of which the net price is 3,000 baht or more on King Power website and King Power application.
• Exclusive discount for Mahanakhon Skywalk entrance ticket. Weekday price (Monday to Friday) is reduced from 530 baht to the special offer price of 371 baht. Weekend price (Saturday and Sunday) of 880 baht is cut down to 616 baht only.
• Special 4-day-and-3-night accommodation package at Pullman King Power Bangkok; only 5,100 baht for the Deluxe Room Package; 8,100 baht for the Executive Room Package; and 9,600 baht for the Suite Room Package.
• 50% special discount per dish at Ramayana restaurant King Power Phuket, or 50% discount when purchasing a 500-baht cash card at Thai Taste Hub, King Power Rangnam and Mahanakhon Cube.
Moreover, from Monday to Friday throughout July at King Power Phuket, Thai national tourists are offered a 2,000 baht discount for 6,000-baht minimum spending on selected products.
Plus, only on Saturday and Sunday, two discount coupons valued at 22,000 baht and one 4,000-baht discount coupon are on offer for the purchase of cosmetics and perfumes with spending of 6,000 to 11,000 baht.
King Power Phuket and King Power Group are now ready and delighted to join the government’s initiative in welcoming tourists to the island under the PHUKET SANDBOX campaign.
We are confident in our safety measures adopted across all services, especially our stores that are now following the SAFETY SHOPPING at King Power policy, and the King Power Care Power hygiene guidelines which operate under the standard D-M-H-T-T practices issued by the state in order to prevent the spread of COVID-19 now and in the future.
KING POWER GROUP joins tourism boosting PHUKET SANDBOX campaign
Didi said to guide pricing U.S. IPO at top of range or above
Chinese ride-hailing giant Didi Global Inc. is telling investors it plans to price shares in its U.S. initial public offering at or above the top of a marketed range, according to people familiar with the matter.
The Didi application on a smartphone inside a ride-sharing vehicle in Beijing on June 11, 2021. MUST CREDIT: Bloomberg photo by Gilles Sabrie.
Didi plans to sell 288 million American depositary shares. It had marketed the shares at $13 to $14 each.
Deliberations are not final and the price could change, the people said, asking not to be identified as the information is private. A representative for Didi did not immediately respond to a request for comment.
The guidance shows investors are backing Didi despite Beijing’s scrutiny of Chinese internet firms, which has stoked uncertainty ahead of its debut.
At $14 a share, the IPO would raise about $4 billion, making it the second largest U.S. IPO by a Chinese company on record, after Alibaba’s $25 billion debut in 2014, according to data compiled by Bloomberg.
The price would give the company a market value of about $67 billion, based on the outstanding shares listed in the filing. That’s well below the peak of a range that had stretched up to $100 billion as recently as a few months ago.
Even though it is set to rank among the year’s biggest listings, the relatively modest showing by Uber Technologies Inc.’s peer and onetime rival reflects both investors’ increasing caution over pricey growth stocks, and China’s recent crackdown on its biggest tech players.
Didi’s IPO comes in a year that’s on track to set a record for first-time share sales, with almost $351 billion raised to date. More recently, creeping inflationary pressures have injected volatility into the IPO market.
The ride-hailing company is grappling with an antitrust probe into China’s internet giants, a source of uncertainty for the firm and peers such as its major backer Tencent Holdings Ltd. Didi, which was among 34 technology firms ordered by regulators in April to correct excesses, warned in an earlier filing that it couldn’t assure investors that government officials would be satisfied with its efforts or that it would escape penalties. In May, the antitrust watchdog ordered Didi and other leaders in on-demand transport to halt practices from arbitrary price hikes to unfair treatment of drivers.
After the coronavirus pandemic delivered an initial hit to its business last year, Didi rebounded quickly. In the first quarter, revenue more than doubled from the equivalent period a year earlier to reach $6.4 billion. The company also turned a profit for the three months, reporting net income of $837 million. It still posted a $1.6 billion loss last year on sales of $21.6 billion.
The company plans to use the IPO funds to invest in technology, grow its presence in some international markets and introduce new products, according to its U.S. filings. It’s planning to make its debut in Western Europe this year, Bloomberg News reported in February, and has invested heavily in so-called community buying, one of the hottest e-commerce growth areas in China.
The offering is being led by Goldman Sachs, Morgan Stanley and JPMorgan Chase. In all, Didi appointed 20 advisers to manage the IPO. Its ADSs, four of which represent an ordinary share, are slated to start trading on Wednesday on the New York Stock Exchange under the symbol DIDI.
Published : July 01, 2021
By : Syndication Washington Post, Bloomberg · Julia Fioretti, Vinicy Chan
Domestic outbreak, QE tapering will sap Thai stock market in Q3: ASP
Covid-19 restrictions at home and QE tapering abroad will pressure the Stock Exchange of Thailand (SET) in the third quarter this year, Asia Plus Securities (ASP) said on Thursday.
ASP executive vice president Therdsak Thaveeteeratham said the US Federal Reserve’s plan to taper its quantitative easing programme at the end of August would trigger outflow of foreign funds from the SET.
Meanwhile, the latest outbreak of Covid-19 in Thailand, which has led to the temporary closure of restaurants, entertainment venues and construction sites, would shrink GDP in the second and third quarters, both quarter-on-quarter and year-on-year, he said.
“However, we believe that the country’s GDP will stand at 1.7 per cent this year as the export sector has recovered significantly, while the government is making efforts to distribute Covid-19 vaccines to provinces nationwide,” he said.
He pinpointed the SET’s support level at 1,510 points, advising investors to buy stocks with good fundamentals that gain positive sentiment and are attractive to domestic investors, including BLA, BDMS, TFG, MCS, GPSC, BJC and CENTEL.
Meanwhile, ASP’s head of investment advisory Padorn Suksawad advised investors to keep an eye on the global Covid-19 situation and countries’ key economic indicators, such as GDP, unemployment rate and Purchasing Managers Index.
He also advised diversifying investment to countries witnessing economic recovery, such as the US and China, to escape risks in carrying Thai stocks pressured by the Covid-19 outbreak.
SET expected to feel the heat from foreign fund outflows, rising Covid-19 cases
The Stock Exchange of Thailand (SET) Index rose by 2.50 points or 0.16 per cent to 1,590.29 on Thursday morning.
Krungsri Securities predicted the index would fluctuate between 1,580 and 1,600 points despite the expansion in US private sector employment and the rising oil price.
It believed foreign fund outflows and uncertainty amid higher Covid-19 cases in Thailand would pressure the index. In June, foreign investors made net share sales worth THB10 billion.
It recommended investors buy:
▪︎ PTT, PTTEP and Banpu, which benefit from the rising oil price.
▪︎ Hana, KCE, TU, CPF, Asian and EPG, which benefit from a weakening baht.
▪︎ BCH, CHG, BDMS, HMPro, BEM, CKP, CBG, PSL and TTA, whose second-quarter turnover is expected to improve.
The SET Index closed at 1,587.79 on Wednesday, down 3.64 points or 0.23 per cent. Transactions totalled THB83.59 billion with an index high of 1,600.57 and a low of 1,584.47.
Baht being squeezed by Covid crisis, slow vaccine distribution’
The baht opened at 32.03 to the US dollar on Thursday, unchanged from Wednesday’s closing rate.
The Thai currency is likely to move between 31.95 and 32.10 during the day, Krungthai Bank market strategist Poon Panichpibool said.
The most important factor influencing the direction of the baht is the Covid-19 situation in Thailand and in other countries, Poon pointed out.
He added that the US economy is recovering and market players are tending to hold more dollars, leading to a strengthening of the US currency.
Poon also noted that Thailand’s vaccine distribution is still not rolling along smoothly, and the Covid-19 crisis in the country has not eased yet. This has led to foreign investors offloading more of their Thai assets, especially stocks, inevitably pressuring the baht to weaken.
He predicted that the Thai currency would weaken to 32.50 per US dollar at the maximum.
The price of gold rose by THB150 per baht weight in morning trade on Thursday, thanks to mass buy-ups of the precious metal after its price fell almost 1 per cent on Tuesday.
AGold Traders Association report at 9.24am showed the buying price of a gold bar at THB26,750 per baht weight and selling price at THB26,850, while gold ornaments cost THB26,272.28 and THB27,350, respectively.
At close on Wednesday, the buying price of a gold bar was THB26,600 per baht weight and selling price THB26,700, while gold ornaments cost THB26,120.68 and THB27,200, respectively.
The spot gold price on Thursday was US$1,772 (THB56,744) per ounce after Comex gold on Wednesday rose by $8 to $1,771.60 per ounce.
Meanwhile, the gold market is keeping an eye on US non-farm payrolls that will be announced on Friday.
KING POWER GROUP joins tourism boosting PHUKET SANDBOX campaign
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