Raimon Land Public Company Limited announces 1Q/2021 profit increase of 199%
Raimon Land Public Company Limited announces 1Q/2021 profit increase of 199% as compared to the same period last year, announces profit of THB 138mn despite the COVID-19 economic downtrend.
Raimon Land Public Company Limited (“RML” or the “Company”), Thailand’s leading luxury real estate developer, announces profit of THB 138mn despite the COVID-19 economic downtrend. The Company recently rebranded its corporate image to expand its customer base to include a younger affluent generation and is accelerating its new project launches in 2021 to accommodate the Thai government’s new home buying foreign limit. The operating result of 1Q/2021 is a turnaround from the past five-loss quarters and is in line with the Company’s new strategic direction.
Korn Narongdej, Chief Executive Officer of Raimon LandKorn Narongdej, Chief Executive Officer of RML, stated, “in 1Q/2021 revenue from real estate grew 322% compared to the same period of the previous year after the Company implemented new strategies in existing projects to accelerate sales. Although the third wave of COVID-19 is in the background, we are confident that the market is adapting and together with the speeding up of vaccine distribution in Thailand and globally, we believe that the situation will be greatly improved in the near future. After research, we found considerable demand for luxury residential products from a young and dynamic generation with high-purchasing power. Our company has adjusted its strategy to attract this group of potential customers.”
Raimon Land Public Company Limited announces 1Q/2021 profit increase of 199%RML has announced that it sold out The Lofts Silom project and also cleared all remaining units of The River, Unixx South Pattaya and The Lofts Asoke in this first quarter. This will allow the Company to focus on its upcoming projects such as The Estelle Phrom Phong and Tait Sathorn 12 that are under development, as well as on new projects that will be announced shortly.
The Stock Exchange of Thailand (SET) Index fell by 20.79 points or 1.32 per cent to 1,551.06 at 10.01am on Thursday. The volume of transactions was THB8.24 billion with an index high of 1,554.15 and a low of 1,549.06.
Krungsri Securities predicted the index would fall between 1,555 and 1,560 points due to rising US inflation after the country’s Consumer Price Index in April was higher than expected, which has triggered worries that the Federal Reserve would hike the interest rate and reduce its quantitative easing programme.
The index would be under pressure due to a weakening baht, foreign fund outflows and the SET’s move to impose cash-balance regulations on Delta Electronics shares, Krungsri Securities added.
“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” it predicted.
It recommended investors buy:
▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.
▪︎ Hana, KCE, SMT, TU and CPF, which benefit from the weakening baht.
▪︎ EPG, CPF, BCH, CHG, TWPC and Wice, whose first-quarter turnover is expected to improve.
The SET Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 points and a low of 1,557.94.
Gold skids over higher US inflation, worries Fed may hike rates
The price of gold dropped by THB50 per baht weight in morning trade on Thursday due to uncertainty over higher US inflation, which could trigger the Federal Reserve to hike the interest rate. Meanwhile, the strengthening dollar and rising US bond yield also pressured the gold price.
AGold Traders Association report at 9.27am showed the buying price of a bar at THB26,900 per baht weight and selling price at THB27,000, while gold ornaments were priced at THB26,408.72 and THB27,500, respectively.
At close on Wednesday, the buying price of a bar was THB26,950 per baht weight and selling price THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.
The spot gold price on Thursday was US$1,822 (THB57,098) per ounce compared to the price on Wednesday, when it dropped by $13.10 to $1,822.80 per ounce.
The Hong Kong gold price on Thursday dropped by HK$110 to $16,850 (THB67,984) per tael, the Chinese Gold and Silver Exchange Society reported.
Huawei Contribute to Thailand through Technology-Empowered Healthcare
Huawei Commits to Grow in Thailand, Contribute to Thailand through Technology-Empowered Healthcare amid Covid-19 Challenges. The doctors are using AI-assisted diagnose solution to analyze CT scans and compare them with over 4,000 cases
In Bang Khun Thien Hospital, the largest field hospital in Thailand on the frontline of the fight against COVID-19, the doctors are using AI-assisted diagnose solution to analyze CT scans and compare them with over 4,000 cases stored in a database that is accessed using a local high-speed 5G network. This solution enables COVID-19 diagnoses to be processed in just 25 seconds per case. In the meantime, the patients in this field hospital are remotely registering their own medical data, such as temperature, symptoms, etc., thus avoiding direct physical contact and minimizing the risk of COVID transmission.
This is made possible by the recent cooperation between Huawei Technologies (Thailand) Co., Ltd and the Ministry of Digital Economy and Society (MDES) in strengthening Thailand’s public health sector, especially for the field hospitals, to accommodate the increasing number of COVID-19 patients in Thailand and to support hospitals improve their medical capacity and hi-speed communication network. The cooperation covers provision of technologies for medical use worth more than six million baht to ensure safety for the medical staff and patients, including AI-assisted diagnose solution, 5G telemedicine, InPatient area Intelligent Management, and eLTE broadband trunking delivered to Bang Khun Thien field hospital in Bangkok.
Over the past year, the economic and social disruption caused by the pandemic is devastating, with significant impact on individual, industry and national economy across the world. In Thailand, different actors in both public and private sectors are closely working together to manage the spread of COVID-19 and boost post-pandemic recovery, among which Huawei has been proactively integrating its leading technology into Thailand’s fight against COVID-19 and long-term digital transformation.
As Mr. Abel Deng, CEO of Huawei Thailand, emphasized, this new cooperation with MDES is in alignment with Huawei’s commitment to continuously grow in Thailand and contribute to Thailand as a technology-leading ICT partner and proactive digital transformation enabler, especially amidst such challenging times as the ongoing spread of pandemic. According to Mr. Abel in several speeches, Huawei will stand firmly with Thailand and transform the ongoing crisis into new opportunity by applying digital technology including to 5G, Cloud and AI to tackle challenges in the public health and other sectors.
If we look back at Huawei’s footprints in 2020, it is clear that starting from the early outbreak of COVID-19 in Thailand, Huawei has been closely working with Thai government, industry partners and hospitals to protect people and get society back up and running. On March 10th 2020, Huawei donated its telemedicine video conference solution to Thailand hospitals and Disease Control Department. In less than one week, Huawei’s project team managed to finish installing the systems at all 5 locations. The donations, totaling around 10 million baht, included seven sets of Telepresence Systems and 200 mobile user accounts, which enabled medical experts across Thailand to work with frontline medical staff to conduct remote online consultations and monitor the patients’ condition on smart devices with fewer infection risks. On the same day, HE General Prime Minister Prayuth Chan-Ocha, Deputy Prime Minister and Minister of Public Health Anutin Charnvirakul visited the IT Center of DDC. Through the Video Conference System, Prime Minister expressed his regards to the medical staffs at Bamrasnaradura Hospital, Banplee Hospital, the Suvarnabhumi Airport, and encouraged Huawei to keep contributing to Thailand’s digital transformation and improve people’s lives with its technological expertise.
After donating the video conference to enable remote consultations, Huawei further worked to improve Thailand hospitals’ medical diagnosis and evaluation using CT images. At the peak of the pandemic, the number of patients usually exceeds the treatment capacity of the hospital. The traditional CT technology thus became incapable of providing fast and accurate diagnosis. To solve this problem, on March 31st last year, Huawei worked with Thailand’s Ministry of Digital Economy and Society and Digital Economy Promotion Agency to donate AI-Assisted Service to Ramathibodi Hospital, aimed to help medical staffs with medical image analysis and can provide COVID-19 Diagnosis Results in as quick as 25 seconds per case. This illustrated how HUAWEI CLOUD, the first world-leading cloud service provider in Thailand, brought the technological innovation to Thai medical services.
As Professor Piyamitr Sritara, Dean, Faculty of Medicine Ramathibodi Hospital, Mahidol University said, “The Artificial Intelligent technology helps clinical doctors to achieve faster and more accurate diagnosis. The solution can greatly help reduce the workload of Thai medical personnel in this situation.” As another effort to apply this success experience, in the following April, Huawei teamed up with Siriraj Public Hospital to provide AI solutions and 5G technology for the latter. “The AI technology can help doctors analyze CT quantification results of infection cases with high accuracy and low infection risks.” said Dr Prasit Watanapa, Dean at the Faculty of Medicine Siriraj Hospital from Mahidol University. On the same day, Prime Minister Prayut Chan-o-cha visited Siriraj hospital to inspect its epidemic prevention progress, working conditions, and patient treatment. He also tried the AI-assisted diagnosis service provided by Huawei.
In addition to the two public hospitals above, we also see Huawei actively strive to bring technology innovation to the private organizations as well. On April 22th, Bangkok Hospital Pattaya, in cooperation with Huawei, HY Medical from China, and Chanwanich Co., Ltd. (Chanwanich), jointly developed AI technology to assist in the screening and diagnosis for traces in patients undergoing treatment for COVID-19, thereby establishing Bangkok Hospital Pattaya to be regarded as the first private hospital in the region that have adopted such technology which will be used to help support medical personnel in more accurate screening and diagnosis of the virus.
These aforementioned efforts have proved to be highly valuable and effective in supporting Thai Government in its post-COVID-19 economic recovery efforts and accelerating Thailand’s digital technology with 5G adaptation. As the pandemic situation develops in Thailand, on June 12th, Prime Minister Prayut Chan-o-cha welcomed Mr. Abel Deng, CEO of Huawei Thailand at the Government House of Thailand. On this occasion, the Prime Minister and Huawei CEO exchanged views on leveraging digital innovations and expertise as well as 5G ecosystem to support Thailand become the region’s digital technology leader. Huawei also reiterated its commitment to support Thailand during this challenging time with the donation of 500,000 face masks for further prevention of COVID-19.
Based on this meeting with prime minister, Huawei speeds up the integration of 5G and other leading technologies in Thailand’s smart healthcare. On June 25th, in partner with the National Broadcasting and Telecommunications Commission (NBTC) and Siriraj Hospital, Huawei utilized its 5G technology advantages to launch the piloting unmanned vehicle project for the first time in Thailand, transforming Thai healthcare with 5G innovation into smart hospital. The autonomous car offered safe, convenient and cost-effective solutions while reducing workload for healthcare worker and improving patient safety. According to NBTC, the 5G technology integration would then be progressively applied in the national health system for Smart Hospital transformation in the near future.
Growing upon Huawei’s previous cooperation and success experiences with Siriraj hospital, with the goal to further support Siriraj Hospital’s mission to serve better by becoming a smart center that will apply integrated digital technologies using 5G infrastructure, artificial intelligence, big data and cloud edge computing, Huawei signed a MOU of “5G Powered Smart Hospital Enabled with Cloud and AI” with the Faculty of Medicine Siriraj Hospital, Mahidol University on December 3rd. According to Prof Dr Prasit Watanapa, dean of the Faculty of Medicine Siriraj Hospital, this five-year MOU will raise the level and standards of our services and improve operational efficiency. This also marks the initial step in establishing Thailand’s first 5G smart state hospital.
As we can see, Huawei’s aforementioned efforts have strongly helped the Thai government and society fight COVID-19 and accelerate post-pandemic digital economy. Starting from its establishment in Thailand 21 years ago, this tech giant has actively empowered Thailand’s journey to become the most advanced 5G country and digital hub in the ASEAN region. In the meantime, Huawei is also continuously contributing social values to Thai community as a responsible local citizen with over 3,300 employees, including digital talent cultivation, narrowing local digital gap, and promoting sustainable development.
Because of Huawei’s valuable support to Thai society in the past 21 years and its efforts to support post-pandemic digital transformation, on March 9th 2021, Huawei has been chosen for the Special Prime Minister Award as the “Digital International Corporation of the Year”. It is the only company to receive this award. On this occasion, Prime Minister Prayut Chan-o-cha expressed the government’s goal of employing 5G and AI systems to drive Thailand forward and asked Huawei to continue its digital mission. In response, Mr. Abel Deng stressed that with the mission of ‘Grow in Thailand, Contribute to Thailand’, Huawei will keep accompanying the country move forward to Thailand 4.0 as a technology-leading and trusted ICT partner, proactive digital transformation enabler, and continuous social value contributor especially during this challenging time.
“Purra” Thailands First mineral water Certified By Aquacert
“Purra” is Thailands first-ever mineral water to be certified by Aquacert (France), which ensures every manufacturing process, making Purra world-class mineral water that consumers can confidently consume.
“Purra” is Thailand’s first-ever mineral water to be certified by Aquacert (France), which ensures every manufacturing process, making Purra world-class mineral water that consumers can confidently consume. The brand also aims to build the brand further by making the brand more contemporary with new label designs in 2021.
Mr. Thitiporn Dhammabhimukkul, Chief Marketing Officer of Boonrawd Trading Co., Ltd., revealed that manufacturing quality products is always the company’s focus. The company is determined to manufacture an international-standard product to build Purra’s credibility and respond to consumers’ needs.
“2021 is another important year for Purra as the brand receives Aquacert Institute’s certification, which ensured that all of our mineral water manufacturing processes are up to the standard, building consumer confidence. Purra is also Thailand’s first and only mineral water brand to receive this certification.”
The brand is invested in differentiating from competitors by being a 100% natural mineral water with vital vitamins for the body with Silica, Calcium, Magnesium, and PH8 and embodying fashion to stand out in the mineral water market, making Purra a truly consumer’s brand in both beneficial, from vital minerals, and positive perception towards the brand.
The newly designed Purra labels will be even more contemporary and standout but still possess the brand’s uniqueness with Purra’s signature, the mountain element, in a more modern and sophisticated take with minimal composition in blue and gold hue, delivering an outstanding yet straightforward label design.
The new label design will be applied to all Purra’s SKUs, the 330, 600, 750 ml, and 1.5 liters, these are available now at convenience stores such as 7-Eleven, Tops, Tesco Lotus, Big C, Family Mart, leading department stores nationwide, and Singha Online Shop.
SET down as investors worry over possible US interest rate hike
The Stock Exchange of Thailand (SET) Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 and a low of 1,557.94.
In the morning session, Krungsri Securities forecast the index on Wednesday would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as countries move to inject stimulus cash, which has triggered worries that the US Federal Reserve will hike the interest rate.
Meanwhile, the SET would be under pressure from the mounting number of Covid-19 cases in Thailand, said Krungsri.
“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve will help boost the index,” it added.
It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.
The 10 stocks with the highest trade value today were DELTA, TIDLOR, KBANK, SAWAD, KCE, CBG, IRPC, PTT, SCGP and SCB.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 28,147.51, down 461.08 points or 1.61 per cent.
China’s Shanghai SE Composite Index closed at 3,462.75, up 20.91 points or 0.61 per cent, while the Shenzhen SE Component Index closed at 14,064.86, up 98.08 points or 0.70 per cent.
Hong Kong’s Hang Seng Index closed at 28,231.04, up 217.23 points or 0.78 per cent.
South Korea’s KOSPI closed at 3,161.66, down 47.77 points or 1.49 per cent.
Taiwan’s TAIEX Index closed at 15,902.37, down 680.76 points or 4.11 per cent.
SET Index expected to fluctuate today amid high Covid-19 numbers, inflation
The Stock Exchange of Thailand (SET) Index fell by 12.55 points or 0.79 per cent to 1,566.38 at 10.21am on Wednesday. The volume of transactions was THB20.74 billion with an index high of 1,577.16 points and a low of 1,565.95.
Krungsri Securities predicted the index would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as many countries moved to inject cash in a bid to stimulate the economy, triggering worries about whether the US Federal Reserve would raise the interest rate or not.
It said the index would be under pressure due to the higher number of Covid-19 cases in Thailand.
“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” Krungsri Securities said.
It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.
It recommended investors buy:
▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.
▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.
▪︎ PTTGC, EPG, CPF, BCH, CHG, STGT, STA, Com7, Synex, TWPC and Wice, whose first-quarter turnover is expected to improve.
The SET Index closed at 1,578.93 on Tuesday, down 9.22 points or 0.58 per cent. The volume of total transactions was THB102.35 billion with an index high of 1,590.54 points and a low of 1,566.91.
Up to 80% of SMEs hit by lack of liquidity, 100,000 may close for good if Covid crisis persists
About 70 to 80 per cent of small to medium-sized enterprises (SMEs) are suffering from a lack of liquidity since the third Covid-19 wave hit Thailand in late March and 100,000 could close for good, warned Saengchai Theerakulwanich, president of the Federation of Thai SMEs, calling for urgent government help.
“The federation estimates that about 2.7 million small businesses and 400,000 medium enterprises are having trouble keeping their businesses afloat,” he said.
“If the Covid-19 situation persists for another 2-3 months with no signs of recovery, more than 100,000 SMEs might have to shut down for good.”
Saengchai said the government needs to provide soft loans of at least THB250 billion to help SME operators.
“The loans should target primarily small and medium businesses with maximised accessibility to make sure those in need can get financial aid without obstacles,” he said.
“If the loans have too many restrictions, only strong entrepreneurs who do not really need them will be able to get them,” he warned.
“Besides providing new loans to SMEs, financial institutes must offer debt moratoriums and grace periods on interest for existing loans previously taken by entrepreneurs,” Saengchai said.
“This is to make sure these operators can stay afloat long enough for the economy to recover and they can then make a profit to pay off their debts,” he added.
Gold static in morning trade with eye on US inflation
The price of gold in Thailand was unchanged from Tuesday’s close in morning trade on Wednesday due to a rise in the US bond yield. The market is keeping an eye on US inflation in the hope of predicting the Federal Reserve’s move on monetary policy.
AGold Traders Association report at 9.27am showed the buying price of a gold bar at THB26,950 per baht weight and selling price at THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.
The price had risen by THB50 per baht weight compared to the opening trade on Tuesday.
The spot gold price on Wednesday was US$1,836 (THB57,321) per ounce compared to the price on Tuesday, when it dropped by $1.50 to $1,836.10 per ounce.
The Hong Kong gold price on Wednesday dropped by HK$10 to $16,980 (THB68,261) per tael, the Chinese Gold and Silver Exchange Society reported.
The baht opened at 31.17 to the US dollar on Wednesday, weakening from Tuesday’s closing rate of 31.10.
The Thai currency is likely to move between 31.15 and 31.25 during the day, Krungthai Bank market strategist Poon Panichpibool said.
He said the baht tended to move in a predictable range, as the direction of the dollar was not clear at this time. The baht would weaken during the day in case foreign investors continued selling Thai stocks, he added.
However, the baht will not weaken sharply, as exporters aimed to sell the dollar when the baht moves near 31.20 to 31.30, Poon said.
He added that the important resistance level of the Thai currency was at 31.00.
Korn Narongdej, Chief Executive Officer of Raimon LandKorn Narongdej, Chief Executive Officer of RML, stated, “in 1Q/2021 revenue from real estate grew 322% compared to the same period of the previous year after the Company implemented new strategies in existing projects to accelerate sales. Although the third wave of COVID-19 is in the background, we are confident that the market is adapting and together with the speeding up of vaccine distribution in Thailand and globally, we believe that the situation will be greatly improved in the near future. After research, we found considerable demand for luxury residential products from a young and dynamic generation with high-purchasing power. Our company has adjusted its strategy to attract this group of potential customers.”
Raimon Land Public Company Limited announces 1Q/2021 profit increase of 199%RML has announced that it sold out The Lofts Silom project and also cleared all remaining units of The River, Unixx South Pattaya and The Lofts Asoke in this first quarter. This will allow the Company to focus on its upcoming projects such as The Estelle Phrom Phong and Tait Sathorn 12 that are under development, as well as on new projects that will be announced shortly.
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