The new approach includes putting more emphasis on the value that a company brings to the bank, rather than just its size, in order to build up the number of active transactional accounts.

Vipon Vorasowharid, first executive vice president, said SCB had made a strategic adjustment to bring the bank’s main loan portfolio down from Bt300 billion to Bt270 billion, as it had moved its SME (small and medium-sized enterprise) portfolio of more than Bt30 billion to its small-business unit.

The unit is headed by Pikul Srimahunt, who is also in charge of mortgages.

SCB’s small-business unit had a loan portfolio of Bt50 billion prior to taking on the additional Bt30 billion.

SMEs with annual turnover of no more than Bt75 million will be overseen by the unit.

While the bank needs to use relationship managers (RMs) to service SMEs and wants to expand its customer base, the current number of RMs might not be sufficient to |service small SME clients, the executive said.

Each RM looks after 200-300 enterprises, which means that in the long term they will find it difficult to expand the customer base.

SCB therefore decided that it needed a service centre and “hunter” staff to service small SMEs, he said, explaining that the hunters would acquire new customers and transfer them to the service centre – a system that would speed up the lending process.

Vipon said the bank realised that being the main operating bank in the segment was more important than chasing lending to more up-scale customers, as in the past, with lending used as the leading product to acquire transactional accounts.

“Today, the way of doing SME lending business must change. We are not so seriously concerned about building the portfolio and, under the five-year plan of the Business Banking Group, we want to see more active transactional accounts. Our active accounts should account for 25 per cent of our total SME clients,” he said.

Active transactional accounts at SCB currently stand at 10 per cent.

“We will not benchmark SME business in terms of outstanding loans, because more lending [to the segment] could mean more non-performing loans. We will benchmark SMEs in relation to their usage of the bank, as per their statement accounts,” he added.

Importantly, customers will be serviced on the basis of their value to the bank, not on their size, Vipon said.

For example, a small enterprise could have more value than a large business despite having a smaller loan, if it uses SCB as its main bank, he said.

The bank has therefore found it crucial to evaluate the value of customers in order to treat them better, he stressed.

While revenue of the Business Banking Group might not grow, value to the bank will increase as the deposits of those customers that stay with SCB for making transactions will help reduce overall costs, he said.

According to NMG, the ministry’s registrar has already registered the new directors and the company can continue business operations. It has not authorised directors for some time.

NMG will propose an important and urgent agenda to its new board, including the repayment of its due promissory notes.

Previously, NMG requested postponement of the repayment of the promissory notes, because it did not have authorised directors.

On November 7, NMG’s extraordinary shareholders’ meeting resolved to appoint the eight new directors to replace directors who are banned by the securities watchdog from holding director and executive positions in any listed companies.

The eight new directors are Vitoon Puengprasert, Thepchai Sae-Yong, Supon Piansiri, Nutwara Saengwarin, Sirichai Chanana, Suphawat Sanguannam, Narawadee Vanichwatthana and Suphapong Sooksapha.

Another investor is Songphon Chaovanayothin, Executive Director of PACE Development Corporation.

WorkVenture executive director Alexander Kerbo said: “Our strategy from the beginning was to find the right strategic partners over VC [venture capital] funding. The focus is on the Thai market and our partners will bring great synergies |and expertise to the table which will help us capture a significant share |in the job search market in Thailand.”

Soammaphat said: “I am excited about the outstanding offering of WorkVenture which furthers our ethos of developing unique products and services.”

Songphon said a good business move is to develop the right offering in the right time and WorkVenture “hits the sweet spot on this account”.

Songphon said the job market in Thailand is on the rise with better qualified employees.

“In such an environment, digital is the way to go,” Songphon said.

Set up in 2014 and previously known as Jobnisit, WorkVenture says it allows jobseekers to have the most relevant jobs offered to them based on a semantic algorithm developed in-house.

The company said that with the search significantly simplified, users can spend more time researching jobs and interactive content on WorkVenture’s “company pages” of companies in Thailand.

The result of this new approach seems to be bringing dividends, as more and more companies are willing to showcase their modern offices and highlight the perks at work, the company said.

“Thailand is experiencing a candidate’s market, and companies have to step up their employer branding to attract top talent,” said Jens Pold, CEO of WorkVenture.

Clive Turton, former Asia Pacific managing director of APR Energy and an experienced power generation developer, will lead the joint venture.

The platform will target projects at the development phase of the infrastructure lifecycle and will de-risk the assets through financing, construction and commencement of operations. It aims to develop a diversified portfolio including thermal, wind, solar, hydro and waste to energy projects in the mid-scale segment (~50-300MW).

The joint venture expects to invest equity in excess of US$500million and is currently in discussions with leading financial partners across the capital structure.

Joachim Rumstadt, Steag Chairman said, “Emerging countries in Southeast Asia are in desperate need of an increase in stable and reliable electricity supply. Steag is familiar with energy projects in emerging markets and this partnership with Macquarie Capital brings together an ideal combination of technical expertise and infrastructure financial markets experience. We believe all stakeholders (off-takers, project developers, financial providers and governments) will benefit from our combined capabilities.”

Alex Harvey, global head of Macquarie Capital’s Principal Transactions Group and executive chairman of Macquarie Group Asia, said, “We’re delighted to be part of this joint venture with Steag, which is well-regarded as a leading strategic power developer.” John Walker, Macquarie Capital’s executive chairman of Asian Infrastructure, Utilities and Renewables added, “The reaction from project developers and financial market partners has been very strong to date and creates a solid foundation for the future development of the platform.”

Turton said, “It’s a pleasure to be working with Steag and Macquarie Capital to introduce a new player into the power development business in Southeast Asia. Our work is already underway developing the pipeline and identifying partners, and it’s clear that there’s a great opportunity to build a substantial business in this region.”

Steag has been actively engaged in emerging markets over the past 20 years, including Indonesia, Philippines, India, Columbia and Turkey, and is internationally known for the reliable production of electricity. Macquarie Capital is a global leader in principal investments and financial advisory activities. Steag and Macquarie Capital have worked together on numerous infrastructure projects.

A source at the National Broadcasting and Telecommunica-tions Commission (NBTC) said recently that DTAC had submitted a request to the NBTC for its opinion on the matter.

The NBTC will ask its Telecom Committee to make the decision on the issue soon.

If a licence is needed for these two cases, it could affect the regulator’s conclusion on a similar case involving telecom infrastructure funds, the source said.

Two such funds have been launched – the Digital Telecommunications Infrastructure Fund by True Group and the Jasmine Broadband Internet Infrastructure Fund by Jasmine International.

Last year, the Telecom Committee ruled that they did not need a telecom licence.

Sanpachai Huvanandana, CAT’s president, said CAT has sent the JV proposal to the Ministry of Digital Economy and Society for consideration, before forwarding it to the Cabinet.

He said he thought the two JVs did not need an operating licence.

According to DTAC’s letter to the NBTC, it discussed the plans to set up two 52:49 joint ventures, Telecom Co and Fibre Optic Co, with CAT.

This is part of the plan to settle their dispute over the ownership of DTAC ‘s telecommunications towers under the concession.

According to their initial agreement, Telecom Co will buy all 13,500 disputed telecom towers from CAT, while Fibre Optic Co will buy the fibre network from CAT.

The JVs will allow DTAC to manage and operate both assets. DTAC will also be the main customer of the assets.

DTAC and CAT are of the same opinion that the JVs do not need a telecom licence because they will not operate the assets, just like the infrastructure funds do not need a licence.

Pratanwong Phornprapha, president of Siam Motors Industries, said that the move was to secure leership in integrated logistics service by expanding its business to tap growth in the logistics industry and market in Thailand and other Asean countries.

He said that the company and AutoLogic Co Ltd, an affiliate of JWD, have jointly established Siam JWD Logistics Co Ltd., with a registered capital of Bt 20 million and three shareholders – Siam Motors Industries Co Ltd (52.5 per cent), AutoLogic Co Ltd/JWD (42.5 per cent) and an individual investor (5 per cent).

The joint-venture firm is expected to begin commercial operation in January next year and earn revenue immediately. Its first year’s revenue from supply of services to two (phase I) of the approximately 70 plants of Siam Motors Group customers is forecast to reach Bt50 million. Revenue from non-Siam Motors Group customers is also projected to contribute significantly to the firm’s growth and improve the firm’s 2017 performances in terms of revenue and profitability.

THAI EXPORTS SHRINK AMID

LOW CRUDE. COMMODITY PRICES

Thai exports contracted 4.22 per cent year-on-year to US$17.78 billion in October of this year, while the 10-month figure shrank 1.02 per cent year-on-year to $178.25 billion, according to Thai National Shippers’ Council (TNSC)

This whole year’s exports are estimated to contract 0.8 per cent, or at best zero per cent, after estimated low commodity prices as a result of expected further drops in crude prices, the council said.

Although there was improvement of consumer and business confidence in main export destinations including the United States, the United Kingdom, Japan and China, oil-producing countries have not yet reached agreement on their crude production which could drag down crude prices, it said.

TNSC forecast Thai export growth in a range of 0-1 per cent in 2017. Its major risks extend from uncertainties in the global economy and trade, the US monetary policy, fluctuations in prices of gold and crude to more trade barriers.