Mazda sales soar 63% as showroom network expands

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Mazda sales soar 63% as showroom network expands

Auto & Audio November 12, 2018 16:51

By The Nation

Mazda’s Thai sales in October surged 63 per cent to 5,647 units, thanks to showroom network expansion to cover all sales areas.

The Mazda2 was the top-selling model with 3,770 units (a 67-per-cent increase, year on year), followed by the CX-5 with 469 units (up 23 per cent), the Mazda3 with 408 units (up 46 per cent), the CX-3 with 294 units (57 per cent higher), the BT-50 PRO with 704 units (up 99 per cent) and the MX-5 with two units.

From January to October, Mazda sales reached 57,402 units, equivalent to an increase of 43 per cent compared to the same period last year.

International Motor Expo kicks off November 29

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Kwanchai
Kwanchai

International Motor Expo kicks off November 29

Auto & Audio November 09, 2018 16:59

By The Nation

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A total of 36 auto brands and 23 motorcycle brands will be present at the 35th Thailand International Motor Expo, to be held at Muangthong Thani from November 29 to December 10.

Organiser Kwanchai Paphatphong said this year 45,000 bookings are expected to be placed for new cars plus 8,000 motorcycles.

“The expected 1.5 million visitors will generate over Bt55 billion at the Moto Expo, and help contribute to Thailand vehicles sales breaking the one-million-unit mark this year,” he said.

Apart from new models, there will also be concept vehicles on display as well as activities such as safety driving, off-roading and an autonomous drive exhibition.

Bitkub sets sights on DISRUPTING

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  • Jirayut Srupsrisopa, chief executive officer of Bitkub Capital Group Holding

Bitkub sets sights on DISRUPTING

Tech November 10, 2018 07:26

By Asina Pornwasin
The Nation Weekend

2,577 Viewed

Ambitious startup, already valued at Bt525m, is out to make waves in fintech

A Thai startup, Bitkub Capital Group Holding, aims to become the next digital disrupter in the area of financial services, driven by blockchain technology and with the goal of being the leader in the blockchain ecosystem for Southeast Asia.

Technology will not only disrupt the banking industry, says Jirayut Srupsrisopa, chief executive officer of Bitkub Capital Group Holding, but go on to disrupt the stock exchange as a whole. And blockchain will be the key disruptive technology.

He says that financial services are the world’s largest offline market, with no one yet dominating the market. The United States’ financial services alone are about US$3 trillion (Bt99 trillion), most of it now offline. That offers a huge gap for financial technology (fintech) to fill. It is the single big opportunity in the sector, says Jirayut.

A lot of venture capitalists are backing financial service unicorns. The global VC investment in financial technology has seen an eight-fold increase in funding activity between 2009 to 2014. And investment continues to increase.

Social banking is another imminent trend, including neophyte Facebook Pay along with WeChat Pay, which is among the leaders in the Chinese market.

On the last Chinese new year’s eve alone, the electronic money rewards sent through WeChat app were worth about $8 trillion.

Blockchain technology is the next big thing in the effort to catch the huge potential market. Blockchain is the second layer of the Internet (the first layer is TCP/IP) to enable instant value transfers. Blockchain is a fundamental technology in the effort to create an Internet of value, in which people use the technology to create and transfer the value of things in the same way they do with information.

He said the largest portion of the financial industry has until now been offline, presenting a huge opportunity for fintech companies such as Bitkub to capture a share.

The company’s target is to position itself as the future leader of the blockchain ecosystem in Southeast Asia.

Founded in February with registered capital of Bt50 million, Bitkub Capital Group Holding consists of four main business units – the digital asset exchange platform, consulting and development of blockchain technology for enterprises (both government and private sector), education in blockchain technology and digital assets, and algorithmic trading.

Those units are operated by different companies, with Bitkub Online taking care of the digital asset exchange platform, Bitkub Blockchain providing ICO advisory services, Bitkub Blockchain Academy holding education workshops in blockchain and Bitkub Capital acting as a venture capital firm taking care of investments.

“We want to be a disrupter in financial services to help digitise value,” said Jirayut. “With blockchain we believe that the financial instrument will be 100-times bigger than the present. Now, we trade only a few assets but in the future we can trade everything – both tangible assets and intangible asset such as diamond and reputation – thanks to blockchain.”

Bitkub Online aims to be leader in digital asset exchange as measured by having the most quality coin trading and the largest trade volumes. Bitkub Online’s http://www.bitkub.com, operated since May 2018, now boasts trade volumes of Bt50 million per day with total trading sessions of almost 400,000 sessions.

It has trading members with 20,000 accounts, all of them individual traders. The company aims to increase trade volume to Bt500 million per day. To achieve that goal, it plans to increase the number of trading coins from the current six coins, to more than 20 coins by the end of 2018.

“We just started since May this year, and we now are number two in digital asset exchange with trade volumes of Bt50 million per day, following the leader which has 28 trading coins and a trade volume of around Bt100 million per day. We plan to increase both trading coins and trading volume,” said Jirayut.

Moreover, the company plans to initiate its own coin, called Bitkub Token or KUB coin, which is set to be a trade mining token for traders. Also, by the end of 2018, it will launch token API and a mobile application.

Meanwhile, Bitkub Blockchain technology is set to help businesses to digitise their assets through blockchain technology. It provides consulting and development of blockchain technology for enterprise for both government and private sectors. It offers ICO advisory services in financial, legal and compliance, technology, as well as sales and marketing.

It offers four service pillars including financial advisories such as full crypto-economic business model development and token distribution and structure; legal advisories such as risk assessment of ICO campaigns, KYC and AML processing to meet all government standards; technology services such as smart contract blockchain protocols and blockchain as a service specialisation; and marketing campaigns such as public relations plans customised to reach specific investors and an SEC-approved marketing campaign.

Blockchain requires a lot of education, and so Bitkub Blockchain Academy has been set up to provide education in blockchain technology and digital assets as well as to offer co-working space for the blockchain and digital asset community. It also offers internal and public trading and workshops.

“Our goal is to create a community hub to nurture the Thai blockchain scene,” says Jirayut. “Thai Blockchain Hub serves as an educational workshops about blockchain.”

Last but not least, Bitkub Capital, the capital venture arm of Bitkub Capital Group Holding, will use algorithmic trading to invest in digital assets and in blockchain/digital asset start-ups. The first investments will begin in mid-2019.

“It is our venture capital firm and will offer hedge funds, start-up incubation and mentorships, as well as financial advisory and capital solutions,” said Jirayut.

Bitkub Capital Group Holding was established in February 2018 with the incorporation of Blockchain Capital Group Holding, and with the first round of seed funding. Then in March, it launched a crypto exchange followed by the launch

of ICO advisory and consulting

services.

In May, it secured the second round of seed funding and consumers began trading Bitcoin and Ethereum on Bitkub Online. It then added coins – Wancoin for trading followed by more listed coins including Cardano and OmiseGo. It also launched Bitkub Blockchain Academy and hosted the first cryptocurrency meetup.

Bitkub Capital Group Holding has enjoyed phenomenal growth since being founded in early 2018, now boasting a Bt525 million company evaluation, and with major investors such as dtac Accelerate and SEAs.

Apple makes a splash with eye-catching riverside store

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Apple makes a splash with eye-catching riverside store

Tech November 10, 2018 07:22

By Asina Pornwasin
The Nation Weekend

3,965 Viewed

Apple Iconsiam, the first Apple Store in Thailand, debuts on Saturday in Bangkok at the city’s  newest and largest shopping centre, IconSiam Centre.

The store features Apple’s full line of products, including iPhone XS, iPhone XR and Apple Watch Series 4, invites visitors to pursue their creative passions with free Today at Apple sessions.

Angela Ahrendts, Apple’s senior vice president of retail, said that Bangkok is a cultural and economic destination for the entire region, which hosts millions of passionate Apple customers.

“We are thrilled to introduce our Thai customers to Today at Apple, our full line of products, our phenomenal employees and the service and support that is loved by customers around the world,” gushed Ahrendts.

Apple Iconsiam is on the shores of the Chao Phraya, seamlessly connecting the new mixed-use IconSiam Centre to an outdoor roof terrace. The store’s clean, trapezoidal design lines and glass surfaces accentuate the natural beauty of its surroundings while creating an open, airy atmosphere erasing boundaries between interior and exterior.

Denny Tuza, senior market director, Asia Pacific Retail for Apple, notes that the design features two expansive glass facades that create transparency through the store and to the river, the city and beyond.

As customers walk in through a sweeping curve stone entry, their journey continues to the lush roof garden, where they can admire local art, participate in a Today at Apple photo or sketch walks, or simply enjoy iconic views of Bangkok.

Inside the store, a spacious forum offers all of Apple’s free Today at Apple sessions, which he says Apple expects will inspire visitors to connect with one another, discover a new passion or take their skills to the next level. People can sign up for Today at Apple sessions at apple.com/th/today.

These hands-on sessions, led by creative pros, offer tools for all to explore their creative curiosity and learn to make the most of Apple products and services.

All ages catered for

There are sessions for children and parents, teachers and businesses, photo and music lovers as well as designers and developers. They will teach them how to use Apple products and services to maximise benefits to fit people’s needs and passions, says Tuza.

Along the store’s avenues, visitors can try out the latest Apple products, which are displayed for maximum convenience and accessibility. A tree-lined “Genius Grove” mirrors the flora of the outdoor terrace and provides the setting for Apple’s “geniuses” to offer personalised technical support and advice.

More than 100 employees are ready to offer services to customers in 10 languages.

Origin Property reports high third quarter revenue

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Origin Property reports high third quarter revenue

Real Estate November 12, 2018 11:05

By The Nation

Listed property firm Origin Property wil announce total revenue of Bt4.03 billion and a net profit of Bt892 million in the third quarter of this year, up 106 per cent and 60 per cent respectively over the same period of last year, the company’s chief executive Peerapong Charoon-Ek said on Monday.

The new figures push total revenue achieved in the first nine months of 2018 to Bt10.69 billion with a net profit of Bt2.4 billion, up 166 per cent and 148 per cent over 2017. The increase has come from strong market demand and the transfer of condominium projects launched in last two years to customers, he said.

The company also reported total presales of Bt22.4 billion, which should put it on track to reach its total presale target of Bt24 billion by the end of this year. Bookings are expected to raise the company’s revenue from 2019 until 2021.

Diversification the key for fast-growing firm

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Diversification the key for fast-growing firm

Real Estate November 12, 2018 01:00

By   SOMLUCK SRIMALEE
THE NATION

SINCE ITS ESTABLISHMENT nine years ago, Origin Property has seen its pre-sales value climb from Bt198 million in 2010 to Bt24 billion this year, mainly due to its success in building residential projects suitable for different groups of people.

The company currently has a staff of 1,000, from four at the beginning.

“We grew continuously through the years in line with market demand, partly due to our emphasis on the middle-income market where homebuyers have high-spending power and are less price-conscious,” said Peerapong Jaroon-Ek, the company’s chief executive officer.

The company’s total assets stood at Bt26.3 billion as of June 30, from lower than Bt100 million in 2010.

It has now evolved into an integrated property company from a mere developer through the establishment of Primo Service Solution Co Ltd, its property management unit. The subsidiary successfully collaborated with startups in the development of the digital butler model – a digital platform offering a selection of services to meet residents’ demands at the company’s projects. The new company, tasked with developing innovative services, plans to apply for listing in the Market for Alternative Investment (MAI) when its annual net profit comes close to Bt100 million.

It showed a net profit of Bt30 million last year.

For additional income, the company is also looking for opportunities to provide innovative services to properties of other developers.

Another subsidiary, One Origin Co Ltd, was set up as an investment vehicle in the hospitality sector. It has so far invested Bt10 billion in six hotels and retail projects that will generate recurring incomes to the parent company, starting with the completion of Staybridge Suites in Thonglor next year.

The first development is expected to contribute Bt300 million yearly.

Other projects under construction include Holiday Inn & Suites at Sriracha Laemchabang in Chon Buri province, a hotel ‘One Origin’ on Sukhumvit 24 and a retail complex ‘One Origin Phayathai’. These projects are scheduled for completion between 2019 and 2023 and expected to contribute up to Bt5.2 billion annually to the group.

Origin Property plans to set up a real estate investment trust to raise funds from the capital market for business expansion.

“We aim to become a sustainable company like Siam Cement Group and PTT. This is the reason behind the diversification of our business activities,” Peerapong added.

ORIGIN aims high

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Peerapong
Peerapong

ORIGIN aims high

Real Estate November 12, 2018 01:00

By   SOMLUCK SRIMALEE
THE NATION

  ORIGIN PROPERTY PLC, a listed property company, expects its annual revenue to double from Bt16 billion this year to Bt32 billion in 2023 through the offer of a digital platform for services to homebuyers under the banner of “Smart Service Living Solution”, chief executive officer Peerapong Jaroon-Ek told The Nation in an interview.

A subsidiary, Primo Service Solution Co Ltd, was set up to collaborate with startups in the development of a “digital butler” – a living platform providing a selection of services to the residents of company’s preojects, he said.

The unit also serves as an office for property management, housekeeping, brokerage and rental service.

He said besides building facilities, the company is also focusing on meeting the demands for convenience through innovative services.

The company first applied the “digital butler” concept on the five residential projects it launched this year – Knightsbridge Space Rama 9, Knightsbridge Collage Sukhumvit 107, Park Origin Thonglor, Knightsbridge Space Ratchyothin, and Kinsington 63. Homebuyers can simply download the application for variuous services such as shopping and house maintenance.

In line with “Smart Service Living Solution”, all of the company’s new projects will come with “digital butler” as a sales strategy, he said.

To drive business growth towards the 2023 target, it plans to launch 18 residential projects worth a total of Bt35 billion next year, to be located in Bangkok and the three provinces covered by the Eastern Economic Corridor mega-project, namely Chachoengsao, Chon Buri, and Rayong. Twelve of the 18 planned for next year will be condominiums costing a total investment of Bt27 billion, of which Bt12 billion worth of projects will be co-invested with its Japanese partner Nomura Real Estate Development Group. The other six projects, to be developed by the company itself, are low-rise residences (single-detached houses, twin houses and townhouses) under the “Britania” brand, he said.

All the projects planned for next year are targeted at the middle- to upper-income market with starting prices set at Bt5 million per unit. This segment is not expected to be negatively impacted by the Bank of Thailand (BOT)’s announced policy to rein in mortgage approvals by commercial banks.

The new BOT regime raises the down payment on a property from 10 per cent to 20 per cent and broadens the scope in calculating the overall debt of the applicant, including personal loans and credit card spending among others, before a judgement is made on his/her ability to repay the mortgage in full, Peerapong said.

“We will continue with the launches of new projects next year in view of the economic growth forecast of four to five per cent and the government’s continued investments in infrastructure projects that will boost the demand for residential units in certain areas. These positive factors will lead to a double-digit growth in our presales and total revenue in 2019,” he said.

Despite fierce competition in the market, the company is confident of achieving its growth target, thanks to project designs and the wide range of innovative services on offer to meet homebuyers’ demands.

The company has a total backlog (units sold, waiting to be transferred to buyers) worth Bt34 billion. The amount will be added to the company’s annual revenues from 2019 to 2021.

Recurring incomes

Despite continuous rise in pre-sales since its founding in 2009, the company has established One Origin Co Ltd to manage and expand its recurring incomes to ensure sustainable growth.

The new company, formed this year, has set a Bt12-billion budget for a slew of new projects, including Staybridge Suites in Thonglor; Holiday I1nn & Suites at Sriracha Laemchabang in Chon Buri province; Staybridge Suites in Sriracha, Chon Buri province; ‘One Origin’ hotel on Sukhumvit 24 and the ‘One Origin’ retail complex in Phyathai.

These projects, currently under construction, will be completed between 2019 and 2023.

“We expect total revenue from recurring incomes to reach Bt5 billion in 2022. We will then issue real estate investment trust units through asset sales to generate recurring income for the fund, and later expand investments for more recurring income opportunities,” he said.

He added that recurring incomes support the company’s long-term growth and ensure its stability in the event of a market slowdown.

“Our business model is heavy on the bottom line, rather than the top line. A higher revenue but a lower net profit does not sit well with the company. Our goal is to generate high profit. The investment for recurring income will ensure long-term security for the company,” he said.

Origin Property Plc has announced a total revenue of Bt6.65 billion and a 22 per cent rise in net profit to Bt1.5 billion for the first half of this year, compared with the average growth of 15 per cent among the top 10 listed property companies in the country, according to a survey by The Nation.

Chiang Mai’s flying lantern festival expected to generate Bt1-bn

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File photo
File photo

Chiang Mai’s flying lantern festival expected to generate Bt1-bn

Breaking News November 12, 2018 13:40

By The Nation

The annual Yi Peng or northern traditional Loy Krathong Festival scheduled for November 20-23 in Chiang Mai is expected to generate tourist spending of up to Bt1 billion, said a senior provincial official.

The northern city is expected to draw many tourists this year, said Boonlert Buranuprakorn, CEO of the Chiang Mai Provincial Administrative Organisation, at a Sunday evening press conference.

In other provinces, revellers at Loy Krathong festivals launch krathong or floats into the river or other bodies of water, but in Chiang Mai they release flying lanterns into the air.

Although the number of Chinese group tours have dropped, said Boonlert, more individual Chinese tourists are visiting Chiang Mai, and so total numbers are not expected to decrease there by much.

He said some 2,000 officials would be deployed to ensure the security of tourists during the festival.

Giant lanterns are being built do decorate Chiang Mai’s downtown streets at night during the festival, and hundreds of thousands of lanterns will be lit around the city, he added.

He promised a very special festival this year, with a competition for the best tradition krathong floats and a trophy granted by His Majesty the King.

Damrong Ong-arj, president of the Chiang Mai Tourism Business Association, said almost all accommodation in Chiang Mai has already been booked for the festival.

He said the association would fully comply with the rules set by government agencies for activities involving the release of flying lanterns.

October ad spending up 84%: Nielsen

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October ad spending up 84%: Nielsen

Corporate November 12, 2018 17:55

By The Nation

Advertising spending in October was around Bt9.1 billion, up 84.5 per cent from the same month last year, according to survey results released by Nielsen on Monday.

Most media channels showed a rise in advertising income, the exception being newspapers and magazines, which continued to experience a decline.

Nielsen’s research estimates that the overall market will hit Bt87.5 billion this year, up 4.41 per cent from last year’s level.