BMW celebrates record Thai sales

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BMW-MINI-BMW Motorrad Urban Stores by Millennium Auto
BMW-MINI-BMW Motorrad Urban Stores by Millennium Auto

BMW celebrates record Thai sales

Auto & Audio November 15, 2018 18:08

By The Nation

BMW Thailand recorded its strongest performance ever for the first three quarters of the year with 8,304 vehicles delivered to customers – an 18.2 per cent increase from the same period last year and already outpacing full-year sales in 2016.

Globally, BMW Group’s growth continues to gather pace as worldwide sales over the first nine months of 2018 grew by 1.3 per cent to 1,834,810 vehicles.

Thailand saw total BMW and Mini deliveries from January to September rise by 15.6 per cent to 8,903 vehicles to set yet another record.

BMW Motorrad enjoyed strong year-to-date performance with 1,425 motorcycles delivered for an increase of 9.4 per cent year-on-year.

Christian Wiedmann, president of BMW Group Thailand, said: “Our leading position as a premium automaker continues to grow stronger in Thailand and around the world.

“The exceptional performance we have seen throughout this year is testament to the trust that Thai automotive enthusiasts have placed in our three brands as well as the incredible effort from our network of authorised dealers across the country.”

NASA wants people on Mars within 25 years

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Executive secretary of the NASA International Mars Exploration Working Group, Richard Davis, speaks during a news conference on NASA's 25-year plan for humans to inhabit Mars at the National Press Club in Washington, DC on November 13, 2018./AFP
Executive secretary of the NASA International Mars Exploration Working Group, Richard Davis, speaks during a news conference on NASA’s 25-year plan for humans to inhabit Mars at the National Press Club in Washington, DC on November 13, 2018./AFP

NASA wants people on Mars within 25 years

Tech November 14, 2018 08:10

By Agence France-Presse
Washington

2,447 Viewed

Deadly radiation from the cosmos, potential vision loss, and atrophying bones are just some of the challenges scientists must overcome before any future astronaut can set foot on Mars, experts and top NASA officials said Tuesday.

The US space agency believes it can put humans on the Red Planet within 25 years, but the technological and medical hurdles are immense.

“The cost of solving those means that under current budgets, or slightly expanded budgets, it’s going to take about 25 years to solve those,” said former NASA astronaut Tom Jones, who flew on four space shuttle missions before retiring in 2001.

“We need to get started now on certain key technologies,” he told reporters in Washington.

At an average distance of about 140 million miles (225 million kilometers), Mars poses scientific problems an order of magnitude greater than anything encountered by the Apollo lunar missions.

With today’s rocket technology, it would take an astronaut up to nine months to reach Mars — the physical toll of floating that long in zero gravity would be huge.

For instance, scientists think prolonged weightlessness can cause irreversible changes to blood vessels in the retina, leading to vision degradation.

And after a while in zero G, the skeleton starts to leach calcium and bone mass.

With gravity only one-third of Earth’s, scientists don’t yet know the effects of a presumed one-year mission to the surface of Mars.

– Better propulsion –

One way to reduce wear and tear on the human body is to dramatically cut down on travel time to Mars.

Jones called for nuclear propulsion systems that would have the added benefit of producing electricity on flights.

“If we start now, in 25 years we might have these technologies available to help us and protect us from these long transit times,” he said.

Under current conditions, just an outbound trip to Mars would take so long that any astronaut would receive the same amount of radiation than ordinarily would be deemed safe over the course of an entire career.

“We don’t have the solution yet in terms of shielding, in terms of protecting you from cosmic rays and solar flares that you experience during this transit time,” Jones said.

Aerospace experts have identified several technologies that need rapid development, including spacecraft that can survive the harsh entry into Mars and land softly enough, as well as the ability to lift people off the surface and head back to Earth.

NASA currently has a new robotic lander called InSight zooming towards Mars, due to land on November 26 after taking off from California on May 5.

The $993 million project aims to expand human knowledge of interior conditions on Mars, inform efforts to send explorers there, and reveal how rocky planets like the Earth formed billions of years ago.

Jim Garvin, chief scientist at the NASA Goddard Space Flight Center, said InSight would fill in “critical unknowns” and help build a key understanding of Mars.

In 2020, another mission will see NASA send a rover to Mars that aims to determine the habitability of the Martian environment, search for signs of ancient life, and assess natural resources and hazards for future human explorers.

Additionally, private firms like SpaceX and a host of other nations are building technologies that could be used on future Mars missions.

Some experts see new exploration of the Moon as key to a future mission to Mars, as astronauts there could learn about extracting water or using technology and apply those lessons to future Mars missions.

Property firm announces falling profits

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Property firm announces falling profits

Real Estate November 14, 2018 20:27

By The Nation

Listed property firm Supalai Plc announced a net profit Bt3.33 billion in the first nine months of this year or dropped 18.78 per cent from the same period of last year, the company’s managing director Tritecha Tangmatitham said on Wednesday.

The company’s total revenue recorded Bt17.14 billion in the first nine months of this year or dropped 5 per cent from its total revenue Bt18.07 billion in the same period of last year.

Meanwhile, the company recorded its presale Bt28.66 billion in the first nine months of this year or up 14 per cent from the same period of last year, he said.

Developers saw strong nine-month growth as new mortgage rules loom

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http://www.nationmultimedia.com/detail/Real_Estate/30358480

Developers saw strong nine-month growth as new mortgage rules loom

Real Estate November 14, 2018 01:00

By SOMLUCK SRIMALEE
THE NATION

MOST LISTED property firms show strong growth in their financial results for the first nine months of this year, thanks to strong demand in the market.

According to financial results for the first nine months as reported yesterday to the Stock Exchange of Thailand by ten listed property firms, eight of them achieved higher net profit growth this year than in the same period of last year. The exception was Sansiri Plc and Land and Houses Plc, which posted a net profit of Bt1 billion and Bt8.2 billion for the nine months, a drop of 50.98 per cent and 3.5 per cent respectively from the same period of last year.

Origin Property Plc, Golden Land Property Development Plc and Property Perfect Plc achieved high growth exceeding 100 per cent for the comparison period. Other key firms also showed double-digit net profit growth for the first nine months compared to the same period of last year except for Pruksa Holdings Plc and LPN Development Plc, who achieved net profit growth of one digit, 8.08 per cent and 9.21 per cent respectively, compare to last year’s equivalent period (see graphic).

Origin Property Plc’s CEO Peerapong Charoon-Ek pointed to the company’s success in launching condominium projects in the last two years that were completed this year and transferred to customers starting early in 2018.

The company also recorded Bt10.69 billion in total revenue for the first nine months of this year, up 166 per cent from the same period of last year. This was the first time the company had boosted its total revenue beyond Bt10 billion, he said.

He noted that Origin also has more condominium units for transfer to its customers in the last quarter of this year and plans to launch two new single detached house and townhouse projects worth Bt2.9 billion in the last quarter of this year. Together, they will boost total revenue growth to achieve the targeted Bt16 billion by the end of this year.

Pruksa Holding Plc’s deputy group chief executive Supattra Paopiamsap told a press conference yesterday that in the first three quarters of 2018, Pruksa Real Estate had achieved satisfactory results – a net profit of Bt4.017 billion, a rise of 8.1 per cent year-on-year, on total revenues of Bt30.48 billion. The company also plans to launch 15 new residential projects for the last quarter, worth Bt11.4 billion, to boost its total revenue and net profit growth for the period, she said.

Sansiri Plc’s chief financial officer Wanchak Buranasiri reported to the Stock Exchange of Thailand yesterday that in the first nine months of this year, Sansiri and its subsidiaries reported a net profit of Bt1.00 billion, a drastic decrease from net profit of Bt2.04 billion last year’s same period. The net profit margin of 5.6 per cent on total revenue for the nine months had decreased from 8.8 per cent of total revenue a year ago, due to decreased revenue from project sales and an increase in selling expenses.

However, the company has confidence its presales will grow to achieve the target Bt50 billion by the end of this year, after it recorded presales of Bt43.6 billion in the first 10 months of this year, he said in a press release yesterday.

“The new measure by the Bank of Thailand to increase down-payments for second and third homes will boost the demand to buy residential from this time until the first quarter of next year before the new measures take effect on April 1, 2019,” Wanchak said.

PROPERTY SURVEY Krungthep Kreetha named top location

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http://www.nationmultimedia.com/detail/Real_Estate/30358477

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PROPERTY SURVEY Krungthep Kreetha named top location

Real Estate November 14, 2018 01:00

By The Nation

Plus Property Co Ltd, a property management arm of Sansiri Plc, said the findings of its recent survey pointed to Krungthep Kreetha being a stand-out location due to its proximity to the new central business district, with supporting factors being the Yellow Line and the Orange Line MRT routes.

The new Krungthep Kreetha road is near the expressway and offers convenient linkages with other roads.

The living demands of all age groups are met, as the locale is dotted with schools, hospitals and sports facilities. Land prices in the location have been growing by an average of 10 per cent per year over the past 5 years, outperforming the average gain in greater Bangkok. Prices of condominium units and detached houses have also grown notably: condominium prices grew by about 15 per cent over three years, rental yield averaged between 5 per cent and 7 per cent per year, and reselling had provided yields as high as 20 per cent per year. Th prices of detached houses, priced at an averge of Bt15 million, have risen by 35 per cent over the past 3 years, the company’s managing director Anukul Ratpitaksanti said.

ASSETWISE Developer upbeat on new project

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http://www.nationmultimedia.com/detail/Real_Estate/30358473

ASSETWISE Developer upbeat on new project

Real Estate November 14, 2018 01:00

By The Nation

Property firm AssetWise Co Ltd has introduced its latest condominium project, Atmoz Ratchada – Huaikwang, worth Bt1.4 billion with prices starting at Bt1.69 million per unit.

The company’s chief executive officer Kromchet Viphanphong said that up to 50 per cent of the project is expected to be sold in the next three months. It will boost the company’s pre-sale value to Bt4.2 billion at the end of this year from Bt3.9 billion currently.

CMC aims to raise Bt750m from IPO

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CMC aims to raise Bt750m from IPO

Real Estate November 13, 2018 01:00

By THE NATION

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CHAOPRAYA Mahanakorn (CMC), a leading property developer, aims to raise Bt750 million from an initial public offering (IPO) of 250 million shares at Bt3 per share.

CMC’s shares will start trading in the Market for Alternative Investment from November 19.

Wichian Pattayanunt, the managing director and chief executive, said that CMC would target public and institutional investors to subscribe to 25 per cent of its registered share capital.

CMC has a registered capital of Bt1 billion with par value of Bt1 per share.

“Of the Bt750 million raised from the IPO, we plan to allocate Bt250 million to invest in new condominium projects and buy new land plots,” said Wichian. “Another Bt400 million will be used to repay commercial loans and Bt63 million will be used as working capital,” said Wichian.

He said that after the IPO, the company would further improve its debt-to-equity ratio from 1.8 times to 1.3 times. The Pattayanunt Group will hold a 75-per-cent stake, with other investors holding the remaining 25 per cent.

Wichian said that CMC planned to launch 10 new projects worth a total of Bt10 billion in 2019.

Currently, CMC has a 25 condominium projects with a combined value of Bt4.14 billion ready for transfer and sale. In addition, there are two condominium projects under construction with a combined project value of Bt1.9 billion. Of those, one project will be completed this year while the other project is slated for early completion in 2019. The total project value will reach Bt16 billion, which will be realised in the next three to four years, said Wichian.

For the first six months of this year, the CMC posted Bt976 million in total revenue, a 23-per-cent increase from the Bt795 million achieved in the first half of 2017. The company also reported a gross profit of Bt405 million, a 41.6-per-cent increase from Bt336 million in the same period last year. Importantly, its net profit increased 130 per cent over the Bt53 million posted in the same period last year to Bt123 million.

Given its 24-year successful history in property development, the company is confident of achieving its targeted performance this year.

With a focus on developing condominium projects along the rapid mass-transit routes, the company operates an integrated business model. By having its own construction subsidiary, the company has continuously achieved a high gross margin. Furthermore, by listing in the stock market, the company believes it can dramatically reduce its financial expenses, its major expense, according to Wichian, who sees improved business performance.

The company IPO offering can be subscribed via May Bank, Kim Eng Securities Plc and Country Group Securities Plc, the joint-lead underwriters, or via co-underwriters that include KTBS (Thailand) Securities Co Ltd, Tisco Securities Co Ltd, AEC Securities Plc, and RHB Securities Plc.

Sukhothai expecting Bt500 million from Loy Krathong festival

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File photo: Loy Krathong festival in Sukhothai.// The Nation Photo
File photo: Loy Krathong festival in Sukhothai.// The Nation Photo

Sukhothai expecting Bt500 million from Loy Krathong festival

Tourism November 14, 2018 11:54

By The Nation

2,060 Viewed

Sukhothai Governor Maitree Traitilanan said his province was expecting 300,000 tourists for Loy Krathong from November 16 to 25 and Bt500 million in revenue.

File photo: Loy Krathong festival in Sukhothai.// The Nation Photo

The festival, featuring light-and-sound shows, will take celebrants back in time to the glory days of Sukhothai 700 years ago, when it was the capital of Siam.

Key sites have undergone a massive clean-up, including Wat Mahathat and the plaza where the King Ramkhamhaeng Monument stands.

Opening day on Friday will feature rites at Wat Traphang Ngern with offerings made to the long-ago kings of Sukhothai.

File photo: Loy Krathong festival in Sukhothai.// The Nation Photo

Also planned are a krathong float competition and a Krathong Queen beauty pageant.

Another highlight will be a ceremony on November 22 at 11pm in which lanterns sent by His Majesty the King and other members of the royal family will be floated on the pond at Wat Sra Sri.

Cabinet nod for tourism measures

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http://www.nationmultimedia.com/detail/Tourism/30358483

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Cabinet nod for tourism measures

Tourism November 14, 2018 01:00

By   THE NATION

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THE CABINET yesterday agreed in principle to back measures to stimulate Thailand’s tourism in the early high season.

Tourism and Sports Minister Weerasak Kowsurat said the Cabinet gave the green light for the “Amazing Thailand Grand Sale Passport Privileges” from November 15 until January 15, 2019. The Tourism Authority of Thailand will join the Finance Ministry to set additional special areas at tourism areas or department stores for tourists to facilitate convenient and quick refund of value added tax.

Nattaporn Jatusripitak, adviser to the Prime Minister’s Office, said that the Cabinet agreed in principle to review and offer relaxation to three types of visas with a two-month pilot period. The starting period will be determined by the Tourism and Sports Ministry after its study of the proper period and details.

Firstly, a single-entry visa will be allowed to be changed into a double-entry visa with travel required within six months at the same fee of Bt1,000 per person. The Cabinet also approved a re-entry permit to facilitate foreign tourists who visit Thailand’s neighbouring countries to return to Thailand without making another request.

Most foreigners are independent tourists who prefer to take a trip to Thailand’s main destinations and its neighbouring countries such as Laos, Cambodia and Malaysia. The re-entry permit for the rest of the visa will help promote tourism in Thailand and Asean and satisfy this group of foreign tourists

The Interior Ministry regulation will be amended to allow foreigners who receive a visa waiver for 30 days and travel into Thailand via land immigration checkpoints or land border checkpoints to enter the country with an unlimited number of visa waivers per calendar year.

Based on a database of the Tourism and Sports Ministry, nearly 5 million foreign tourists travelled through land-border checkpoints of Thailand in 2017, up 3 per cent from the previous year.

A number of foreigners stay and work in Thailand’s neighbouring countries.

These foreigners come from Singapore, Japan, France and the United States and like to travel to Thailand for shopping, leisure, sports competitions and healthcare.

These measures aim to maintain Thailand’s tourism revenue at not less than the targeted growth of 12 per cent in 2019, or about Bt2.28 trillion.

True Group records Bt385 million net profit in Q3

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http://www.nationmultimedia.com/detail/Corporate/30358601

TRUE Co-president Vichaow Rakphongphairoj
TRUE Co-president Vichaow Rakphongphairoj

True Group records Bt385 million net profit in Q3

Corporate November 15, 2018 10:27

By The Nation

True Corporation PLC (TRUE) recorded Bt385 million net profit in the third quarter of 2018 bolstered by accelerating service revenues with double-digit YoY growth in both mobile and broadband internet businesses, the company said in a press release issued on Wednesday.

True Group’s financial performance continued to improve in the third quarter of 2018 as service revenue reached a record high of Bt26.3 billion. The growth of 7.3 per cent YoY or 10.3 per cent YoY excluded contribution from the fixed-line phone concession, driven mainly by both cellular and broadband growth, while cost controls remained intact, the company said.

Excluding impact from sales of assets to the Digital Telecommunications Infrastructure Fund (DIF), EBITDA grew 13.9 per cent from the previous year to Bt10.2 billion with margin increasing to 38.4 per cent in 3Q18 compared to 36.5 per cent in 3Q17. Consolidated net profit was Bt385 million, significantly improving from a loss of Bt691 million in the same period last year.

Co-president Vichaow Rakphongphairoj said: “True Group continued to deliver core earnings improvement and profit in 3Q18. This solid performance was driven by accelerating service revenues thanks to our successful customer-driven strategy and tremendous efforts on enhancing network and service levels while cost and productivity measures continued to improve.

“TrueMove H was a strong Q3 performer as it continued its stellar growth momentum with double-digit service revenue growth YoY while revenue market share surged to 28.9 per cent, the highest quarterly market share gain since 2Q17. At the same time, TrueOnline’s expanded FTTH footprint and 1Gbps offerings continued to drive strong double-digit YoY growth of broadband revenue and subscribers.

“Given our strengths on network, convergence, versatile content and digital offerings as well as engaging privilege campaigns highlighting benefits of being True’s loyal customers, we are confident to carry on the upward profitability trend.”

Co-President Dr Kittinut Tikawan said: “This is clearly a positive quarter with record revenue and core profit growth, pinpointing a significant step forward for True Group’s performance. Our mobile business is now fully competitive in the under-penetrated areas of Thailand where there is a plenty of room to attract additional subscribers thanks to our concentrated efforts to improve network density in these areas during the first half of the year.

“Meanwhile, the FTTH network upgrade and 1Gbps offerings have received excellent market response further strengthening TrueOnline’s broadband leadership. The regionalised marketing campaigns with dedicated teams and packages that match demands of each target group have proven successful and this quarter is just the beginning of our progression.

“We believe the accelerating momentum should sustain in upcoming quarters as more and more consumers experience and recognize our exceptional services while added benefits such as TrueID and True Points from our privilege programs will push customer engagement higher.”

TrueMove H outstripped the mobile industry in the third quarter of 2018 with service revenue growth of 10.1 per cent YoY and 2.7 per cent QoQ to Bt18.9 billion contrasting with the YoY and QoQ drop for both of its major competitors.

This was the 26th consecutive quarter in which TrueMove H’s revenue grew faster than the market, and as a result, TrueMove H’s value market share jumped to 28.9 per cent in 3Q18, the highest quarterly market share gain in six quarters, the company said.

The major network upgrade and localised marketing campaigns particularly in Northeast as well as synergy among True Group and business partners contributed to TrueMove H’s continued above-industry growth. It posted 678k net adds during the quarter and grew subscriber base to 28.8 million.