DESIGNING A MODERN ASEAN

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DESIGNING A MODERN ASEAN

Economy November 13, 2018 01:00

By The Nation

Sirikitiya Jensen, fifth from right, at the sixth mASEANa (modern ASEAN architecture) International Seminar, where she exchanged views with experts in the field of modern architectural heritage from Japan, Europe and the Asean bloc.

The participants included professors Shin Marumatsu, Yoshiyuki Yamana and Kenji Watanabe, representatives from Docomomo Japan. Others included Pongkwan Lassus, a ICOMOS Thailand committee member and event chairperson; Professor Ana Tostoes, Docomomo International chairperson; Weeraphan Shinawatra, vice president of ICOMOS Thailand Association; Shigeki Kobayashi from the Embassy of Japan in Thailand; Norihiko Yoshioka, director of Japan Foundation, Bangkok; and Vasu Poshyanandana, secretary of ICOMOS Thailand Association.

The event was held at the Art and Culture Building, Chulalongkorn University. It was organised by Docomomo Japan and Japan Foundation, and hosted by ICOMOS Thailand Association and Faculty of Architecture, Chulalongkorn University.

SET, SEC adapting to tech disruption

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SET, SEC adapting to tech disruption

Economy November 13, 2018 01:00

By PHUWIT LIMVIPHUWAT
THE NATION

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THE STOCK Exchange of Thailand (SET) and the Securities Exchange Commission (SEC) are bracing for technological disruptions by reforming their business structure and developing legislation to support tech start-ups.

In the coming years, the SET will adapt its business structure to transform to a partnership platform format that drives “inclusive growth” for new tech startups, president Pakorn Peetathawatchai told a seminar on “Creating New Frontier of Capital Markets” last Friday.

The SET will introduce new projects and platforms to support tech startups such as Launchpad and Investment Vehicle for Enterprises (Live). The latter is a platform to bring together startups, investors and sponsors and was launched earlier this year under “Live Fin Corp”, a subsidiary company of SET.

In this platform, startups seeking investment capital can meet with investors willing to contribute to crowdfunding startup businesses. The platform also aims to create an investor community so that retail investors are informed about various startup businesses as well as the opportunities and risks of investing in them, says Pongpiti Ektheinchai, managing director of Live Fin Corp.

The number of Thai startups funded through active angel investments, venture capital, and corporate venture capital has been increasing rapidly in recent years. In 2012, only three funded startups in Thailand were officially recognised by Techsauce. This increased to 50 in 2015, 75 in 2016 and 90 in 2017, according to the Thailand Tech Startup Ecosystem Report Q2/2018 from Techsauce.

“We expect to see at least 100 funded startups in 2018,” says Pongpiti.

Meanwhile, the SEC faces various legislative challenges as the market landscape shifts due to the introduction of technological disrupters.

Many in Thailand’s ageing population are seeking to invest in affordable real-estate assets in order to secure a stable source of income as they go into retirement.

As well, the tokenisation of assets is a growing global trend that is now emerging in the Thai market, allowing middle-income investors to invest in a fraction of an otherwise unaffordable asset and become a “fractional owner” of the asset, says Achari Suppiroj, director of the fintech division of the SEC.

For example, instead of purchasing a whole building, investors can purchase tokens that represent a fraction of the asset, she says.

However, there are still legislative obstacles obstructing the advancement of asset tokenisation in Thailand.

For example, it is still legally ambiguous as to whether an asset token falls under the legal regulations of a property asset or that of a digital asset, she explains.

Achari also expressed her concern over Thailand’s regulation of initial coin offerings (ICOs). ICOs are a fundraising method for cryptocurrency companies similar to initial public offerings (IPOs). However, they have been used by cryptocurrency companies to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks.

By passing regulatory laws on ICOs, Achari sees a risk that Thai cryptocurrency startups may be discouraged and choose to instead launch ICOs in other countries.

This may in turn hinder the development of a digital ecosystem within Thailand’s economy. The challenge for the SEC is to strike a balance in its regulatory framework so that cryptocurrency startups are not discouraged and investors also feel safe investing in ICOs, she said.

Magazines, newspapers lose out despite 84 per cent rise in October ad spending

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Magazines, newspapers lose out despite 84 per cent rise in October ad spending

Economy November 13, 2018 01:00

By THE NATION

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TOTAL media-advertising expenditure increased 84.49 per cent year on year in October this year to Bt9.19 billion, Nielsen reports.

Magazines and newspapers are only two media categories posting a decline in ad spending during the month.

Advertising spending on magazines dropped dramatically by 35.95 per cent year on year to Bt98 million in October, while advertising spending on newspapers declined 7.34 per cent to about Bt530 million.

In-store media enjoys the highest growth of 265.22 per cent year on year to about Bt84 million in October this year, following by television, which posted a strong growth of 146.4 per cent to about Bt5.92 billion. Radio chalked up a high growth of 95.98 per cent to Bt439 million while Internet gained 87.06 per cent to about Bt159 million.

Transit media showed rise of 53.45 per cent year on year to about Bt534 million in October, followed by cable and satellite television, which posted a 31.14 per cent increase to Bt219 million in October. Outdoor media posted a 22.81 per cent climb to Bt603 million in October, followed by cinema, which posted the lowest growth of 17.21 per cent to about Bt606 million.

Total advertising spending in the first 10 months of this year however increased only 4.41 per cent year on year to about Bt87.55 billion.

Magazine showed the highest decline of 34.88 per cent year to date to about Bt1.07 billion, followed by newspapers’ drop of 21.32 per cent to Bt5.03 billion while cable/ satellite television, saw a decline of 17.54 per cent to about Bt2.05 billion.

In-store media enjoyed the highest growth of 13.14 per cent in the first 10 months of this year to about Bt861 million, followed by outdoor media, which posted growth of 9.34 per cent to about Bt5.69 billion.

Television posted growth of 8.86 per cent to about Bt56.55 billion in the first 10 months. Internet grew 8.58 per cent to about Bt1.35 billion, followed by radio’s growth of 7.82 per cent to Bt3.91 billion.

Cinemas posted an increase of 7.41 per cent in advertisng revenue to Bt6.04 billion in the first 10 months, while transit media had the lowest growth of 1.64 per cent to about Bt4.95 billion.

Bank profits boosted by BOT’s deferment of IFRS9

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Bank profits boosted by BOT’s deferment of IFRS9

Economy November 12, 2018 20:06

By The Nation

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Banks showed signs of a recovery in earnings in the third quarter, helped by a slower rate of increase in loan-loss provisioning following the Bank of Thailand’s deferred adoption of the International Financial Reporting Standard 9 (IFRS9) to 2020.

BOT senior director Somchai Lertlarpwasin said on Monday that commercial banks were still continuing to set aside a part of their earnings as loan-loss provisioning, but at a slower expansion rate as a result of the IFRS9 postponement, which has given them time for adjustment – and less provisioning than originally expected has meant higher profits.

At the end of the third quarter, the whole banking system’s loan-loss reserves totalled Bt652 billion, up Bt15 billion from the previous quarter and about Bt50 billion higher than at the end of last year.

The ratio of loan-loss provisioning to non-performing loans (NPLs) stood at 146.5 per cent at the end of September, compared to 143 per cent in the prior quarter and 139.5 per cent at the end of 2017, he said.

Following Thai economic growth, bank loans expanded by 6.3 per cent year on year in the third quarter, compared to growth of 5.4 per cent in the previous quarter.

Bank-loan growth is forecast to hit the target of 6-8 per cent for the whole of this year, the BOT’s senior director said.

During the third quarter, consumer lending climbed 8.4 per cent, thanks to a 12.5-per-cent rise in auto hire purchase, an 8.8-per-cent increase in personal loans and an 8.2-per-cent advance in credit-card loans.

Residential lending, meanwhile, grew 6.4 per cent and business loans rose 5.2 per cent, year on year.

Among business loans, lending to large businesses inched up 0.6 per cent, while and small and medium-sized enterprise (SME) lending increased 7.2 per cent, the central banker added.

NPLs across the banking sector remained steady at 2.94 per cent of outstanding loans at the end of September, compared to 2.93 per cent at the end of July.

Outstanding NPLs rose Bt1.25 billion to Bt443 billion, with the third-quarter rise coming mainly from SME loans, reflecting challenges for adjustment to structural changes and business transformation, Somchai said.

SME NPLs stood at 4.65 per cent, compared to 4.45 per cent in the prior quarter.

Pacquiao, Broner to unveil fight details next week

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Pacquiao, Broner to unveil fight details next week

Breaking News November 15, 2018 08:45

By Agence France-Presse
New York

Filipino boxing star Manny Pacquiao and former world welterweight champion Adrien Broner will announce details Monday in New York about their upcoming bout, expected in January at Las Vegas.

Pacquiao owns the World Boxing Association’s regular welterweight crown, a step below US unbeaten WBA ‘super champion’ Keith Thurman, after stopping Argentina’s Lucas Matthysse in July at Kuala Lumpur — his first knockout win since 2009.

The southpaw, 60-7 with two drawn and 39 knockouts in a career that began in 1995, turns 40 next month while American Broner is 33-3 with one drawn and 24 knockouts.

Broner and Pacquiao are set to talk Monday at New York’s Gotham Hall and Tuesday at the Waldorf Astoria in Beverly Hills to promote the bout, which is expected to be staged January 19 at the MGM Grand in Las Vegas.

Pacquiao, the only fighter to win world titles in eight different weight divisions, said last month he was 90 percent certain he would next fight Broner, a former four-division world champion.

Pacquiao, also a senator in the Philippines, lost his World Boxing Organization welterweight title to Australian Jeff Horn last year in Brisbane.

Last month, Pacquiao signed with adviser Al Haymon’s Premier Boxing Champions group after being promoted by Top Rank’s Bob Arum, Haymon’s main rival, for the past 14 years.

The move ensures Pacquiao will have chances to fight the best in the welterweight division as Haymon’s fighters include Americans Thurman, 28-0 with 22 knockouts; World Boxing Council champion Shawn Porter 29-2 with one drawn and 17 knockouts and International Boxing Federation champion Errol Spence Jr., 24-0 with 21 knockouts.

ZEBAZTIAN KADESTAM AND TYLER MCGUIRE FACE-OFF AT ONE: WARRIOR’S DREAM OPEN WORKOUT

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ZEBAZTIAN KADESTAM AND TYLER MCGUIRE FACE-OFF AT ONE: WARRIOR’S DREAM OPEN WORKOUT
ZEBAZTIAN KADESTAM AND TYLER MCGUIRE FACE-OFF AT ONE: WARRIOR’S DREAM OPEN WORKOUT

ZEBAZTIAN KADESTAM AND TYLER MCGUIRE FACE-OFF AT ONE: WARRIOR’S DREAM OPEN WORKOUT

sports November 15, 2018 08:05

By AFP

 ONE Championship™ (ONE) held the ONE: WARRIOR’S DREAM Official Face-Off and Open Workout on Wednesday at the Jakarta Muay Thai & MMA Gym.

In attendance were main event competitors Zebaztian “The Bandit” Kadestam of Sweden and undefeated Tyler McGuire of the United States. Both Kadestam and McGuire will be competing for the vacant ONE Welterweight World Championship.

Also in attendance at the Open Workout were ONE Championship athletes Nieky Holzken, Cosmo Alexandre, Priscilla Hertati Lumban Gaol, and Angelie Sabanal.

Zebaztian Kadestam, ONE Athlete, stated: “I feel extremely confident heading into this next bout. I have learned many lessons from my experience in competing for the title against Ben Askren a year ago. Now, I have come out as a much improved martial artist. There are a lot of things that I can still improve on, and I’m getting better everyday. I’ve been training hard, and I feel good, so I feel confident in this fight. Tyler McGuire is a strong guy with good stamina. The first couple of rounds is going to be tough, so I have to be careful. He’s going to try to take me down, but I’ve prepared my defense well. Then it’s just a matter of going out there and having fun. I’m used to things being rough and tough. I’ve never had an easy fight in my whole career.”

Tyler McGuire, ONE Athlete, stated: “To receive the opportunity to win a World Title in ONE Championship is an absolute honor. It means you are among the world’s best. I have prepared very hard for this fight, and now I want to showcase the results of my hard work. Zebaztian Kadestam is a real tough guy, and I know he’s going to come to fight. That’s exactly what I want and I don’t expect anything less. I know he thinks I can’t hurt him with my striking, but my striking is underrated. Let’s see. I consider myself a complete martial artist. Of course, my main arsenal is still my ground game, and if there is an opportunity to take him down, I’ll maximize it. But if we are going to stand up and trade, then I’m prepared for that.”

Former PXC Welterweight Champion Zebaztian “The Bandit” Kadestam started training in Muay Thai when he was 12 years old and later embarked on a highly successful professional career in the sport.

Soon, he explored other disciplines, as he trained at the Pancrase Gym in Stockholm, and also traveled to the Philippines to sharpen his skills at the Legacy Gym in Boracay under famed martial artist Ole Laursen.

Though he was unsuccessful in a bid for the welterweight title against former champion Ben Askren, Kadestam does own two high-profile victories over top contenders Luis Santos and Agilan Thani. His latest performance against Thani saw Kadestam exhibit his incredible striking skills to finish the young Malaysian by TKO. Up next, Kadestam takes on Tyler McGuire for the vacant ONE Welterweight World Championship.

Undefeated American mixed martial artist Tyler McGuire of Washington, USA, is a submission specialist who trains out of Sik-Jitsu Fighting Systems in Spokane. With an unblemished 11-0 professional record, the 32-year-old owns seven victories by way of submission.

Known for his ability to display creative grappling techniques, McGuire finds himself travelling halfway across the globe to Asia, where he plans to showcase his skills on the global stage of martial arts competition. In his most recent outing, McGuire took on the dangerous Luis Santos in a tough three-round battle to win via unanimous decision.

The performance was impressive enough to earn McGuire a title shot, as he takes on Zebaztian Kadestam in Jakarta for the vacant ONE Welterweight World Championship.

Thais mourn child boxer as funeral held

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A mourner prays in front of a portrait of 13-year-old Muay Thai boxer Anucha Tasako next to his coffin during a funeral at a Buddhist temple in Samut Prakan province on November 14, 2018.
A mourner prays in front of a portrait of 13-year-old Muay Thai boxer Anucha Tasako next to his coffin during a funeral at a Buddhist temple in Samut Prakan province on November 14, 2018.

Thais mourn child boxer as funeral held

sports November 15, 2018 06:19

By Sippachai KUNNUWONG
AFP

A child boxer who died after being hit repeatedly in the head during a Muay Thai bout was mourned Wednesday, alongside wreaths and his fighting shorts, as calls mount for a ban on children entering the ring.

Thirteen-year-old Anucha Tasako collapsed after his opponent, who is about the same age, delivered the blows at a charity fight in Samut Prakan province, near Bangkok, on Saturday.

He died later of a brain haemorrhage, according to police, and relatives were grieving beside his coffin at a temple pavilion Wednesday before his body is cremated.

His portrait was perched in the middle of one of many pink and white wreaths.

Those who knew him were sombre but did not seek to cast blame for his death.

“I’m not mad at the referee or the other boy,” his uncle Aphichati Wannaphakdi, 59, told AFP on the second day of the funeral. “It happens in sports.”

Coach Somsak Deerujijaroen described him as a “clever” boxer with good technique who inspired others.

“Other small boxers look up to him as an idol,” he added.

Thai boxing is hugely popular in the country and many fighters enter the sport at a young age in search of fame and fortune.

But the involvement of Thai youngsters — who sometimes start under 10 years of age in bouts that see kicks and elbows to the head with no protective gear — has stirred frequent criticism.

More so as the young fighters are often family breadwinners from poor families and matches are subject to frenzied ringside gambling.

Smartphone footage shown by local media captured the grim moment Anucha hit the canvas as assistants quickly rushed into the ring to help the motionless boy, who fought under the alias Phetmongkol Sor Wilaithong.

Domestic media said he had been fighting since he was eight and had competed in more than 150 bouts.

His opponent, Nitikron Sonde, took to Facebook to express his sorrow at the death.

“I regret it,” he posted on Tuesday, “but I have to do my duty to win so I can make enough money to sponsor my education.”

Neither fighter was wearing protective headgear.

A bill to prevent minors below the age of 12 from taking part is under consideration, and has already received fresh momentum in the aftermath of the death.

The number two in Thailand’s junta, Defence Minister Prawit Wongsuwan, expressed condolences and instructed the sports ministry “to consider the suitability” of the draft bill, a defence ministry spokesperson said in a statement on Wednesday.

Outrage and anger poured in as footage of the young fighter’s death spread online, with some arguing the referee could have stepped in to end it sooner.

“He could barely stand. Why didn’t the referee stop the fight but let him continue to be hit until he was knocked down,” one Thai Facebook user said.

Others defended the practice of starting fighters young.

“I don’t agree with the draft law to totally ban boxers who are under 12 years old because 99 percent of the famous Thai boxers and Olympic winners began fighting when they were young,” Thai Olympic medalist Tawee Umpornmaha, 59, told AFP, describing the boy’s death as an accident.

“I began at 12 with more than 200 fights. The question is do we have proper safety measures? We must give importance to safety measures including field doctors,” he said.

Djokovic into semis after dismissing Zverev at ATP Finals

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Serbia's Novak Djokovic returns against Germany's Alexander Zverev during their mens singles round-robin match on day four of the ATP World Tour Finals tennis tournament at the O2 Arena in London on November 14, 2018.
Serbia’s Novak Djokovic returns against Germany’s Alexander Zverev during their mens singles round-robin match on day four of the ATP World Tour Finals tennis tournament at the O2 Arena in London on November 14, 2018.

Djokovic into semis after dismissing Zverev at ATP Finals

sports November 15, 2018 06:14

By AFP

Novak Djokovic booked his place in the semi-finals of the ATP Finals as the world number one dispatched Alexander Zverev 6-4, 6-1 on Wednesday.

Djokovic is chasing a sixth ATP Finals title and his first in the prestigious season-ending event at London’s O2 Arena since 2015.

In his 11th appearance at the Finals, the Serb was guaranteed to reach the last four for the eighth time after Marin Cilic beat John Isner 6-7 (2/7), 6-3, 6-4 in Wednesday’s second match.

Djokovic, who beat Isner in his opening group-stage match, has enjoyed a remarkable renaissance in the second half of 2018 and lifting the trophy on the banks of the River Thames would be the perfect way to finish his year.

Djokovic faces Cilic in his last group match on Friday, while Zverev, who defeated Cilic to kick off his Finals campaign, takes on Isner.

The 31-year-old was assailed by claims he had lost his hunger for success and was past his best after injury and personal issues threatened to derail his career in 2017.

But Djokovic has banished his demons in spectacular style, winning the Wimbledon and US Open titles, returning to world number one and becoming the first player to win all nine Masters 1,000 tournaments.

“I found it more difficult than in the first match against John Isner. I played well midway through the second set and started to swing through the ball,” said Djokovic, who has suffered only two defeats in the Finals since 2012.

“Zverev has a big first serve, but his percentage dropped in the second set. That allowed me to step in. He made a lot of unforced errors which helped me to win.

“I am going to enjoy some quality time with my family and then get ready for the last game in the group.”

Zverev is emerging as one of the Tour’s brightest young stars after climbing to fifth in the world.

 

– Thunderous –

 

The 21-year-old shocked Djokovic in the Rome final last year, but the Serb was on top when they met in a one-sided Shanghai semi-final last month and it was the same story again in their third meeting.

Zverev was able to keep Djokovic at bay with his thunderous serve at the start of the first set.

Neither player faced a break point in the first eight games and even when Zverev earned the first two in the ninth, Djokovic found a way to scramble out of trouble on both occasions.

It was a crucial escape for the 14-time Grand Slam champion, who stepped up the pressure on Zverev to steal a hard-fought first set.

Zverev saved a pair of set points with an overhead smash and a bullet serve, but Djokovic wouldn’t back down and a double-fault from the German finally surrendered the set.

The high-quality encounter reached a crescendo when Djokovic pummelled Zverev into submission in the fourth game of the second set.

A series of blistering ground-strokes from the Serb kept Zverev pinned back and, while he battled gamely, the pressure eventually told as Djokovic broke.

That was the signal for Djokovic to sprint to victory and he broke again in the sixth game before completing an impressive statement of intent.

Djokovic had to wait a few hours to learn of his progress to the last four, which was confirmed thanks to a gritty fightback from former Wimbledon finalist Cilic.

The Croatian fifth seed had lost nine of his previous 10 matches at the Finals, and he looked in danger of another letdown when he dropped the first set against Isner.

But Cilic, whose only other Finals victory came against Kei Nishikori in 2016, had other ideas as he roared back to take the final two sets.

“I started to feel the ball really well in the second set. I was playing great tennis towards the end,” Cilic said.

Cilic’s revival keeps him in with a chance of qualifying for the semi-finals, while American eighth seed Isner still has an outside chance of advancing despite losing his first two matches.

Pornpawee stuns China Open victor

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Pronpawee Chochuwong
Pronpawee Chochuwong

Pornpawee stuns China Open victor

sports November 15, 2018 05:50

By Lerpong Amsa-ngiam
The Nation

National champion Pornpawee Chochuwong upset world No 4 and China Open champion Chen Yufei in the first round of the Hong Kong Open on Wednesday.

The Thai No 3 who just lost to the Chinese last week in Fuzhong where her opponent went on to win made a sweet revenge following a 14-21 21-10 22-20 victory. She also scored her first win over  Chen who had beaten her five times coming to the match.

Pornpawee, ranked 24th in the world, joined sixth-seeded Ratchanok Intanon in the round of 16. The former world No 1 Ratchanok beat Sayaka Sato of Japan 20-22 21-13 21-15.

In the men’s singles actions, Thai No 1 Khosit Phetpradab settled score with India’s Sai Praneeth B., the 2017 Thailand Open champion, prevailing in three games 16-21 21-11 21-15.

Thai No 2 Kantaphon Wancharoen also advancing, picking off NG Ka Long Angus 21-15 21-16.

Team comes first, insists six-goal hero

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Adisak Kraisorn
Adisak Kraisorn

Team comes first, insists six-goal hero

sports November 15, 2018 01:00

By Lerpong Amsa-ngiam
The Nation

Striker Adisak Kraisorn is brushing aside the thought of winning the AFF Suzuki Cup’s top scorer award despite his record six-goal haul against Timor Leste last Friday.

The 27-year-old became the first Thai ever to score a double hat-trick in the Cup’s history and is now the tournament’s top scorer, with Malaysian Norshahrul Idlan next on three goals from two matches, against Cambodia and Laos.

“It’s never my priority,” said the Muangthong United forward when asked if he longed to finish the tournament as its top scorer. “I’m more interested in helping the team to win the tournament, which is something  I missed two years ago.”

Injury problems denied the Buriram-based player the chance to join the team two years ago when Thailand won their fifth Cup.

“Every time I get the chance to play with the team, I just want to make every effort out there to achieve our goal together. I never concentrate on any personal award,” he added.

The striker earlier this year underwent an operation on his left knee injury and admitted he still fears it flaring up again.

“I’m still not playing my best as I try to play it safe when I’m on the pitch,” he said. “I learned from the past how to protect myself as I don’t want to be in that situation again.”

Meanwhile, midfield Sanrawat Dechmitr is urged Thai fans to show their support in Saturday’s game against Indonesia at the Rajamangala National Stadium.

Around 10,000 fans turned out in the game with Timor last week, while around 5,000 Garuda fans from Indonesia are expected this weekend at the 60,000 capacity stadium. According to Thai Ticket Major, 23,300 tickets have been sold for the Thailand-Indonesia game.