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Thailand leads the way at the Dot Property Southeast Asia Awards 2022

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Thailand leads the way at the Dot Property Southeast Asia Awards 2022

Thailand leads the way at the Dot Property Southeast Asia Awards 2022

FRIDAY, DECEMBER 23, 2022

The Dot Property Southeast Asia Awards 2022 celebrated a diverse collection of real estate developers, projects and agents with more than 45 winners from across the region honored. Leading Thai developers Supalai and MQDC were among those recognized this year.

This was the first time since 2019 that the Dot Property Southeast Asia Awards were held fully in person with winners hailing from seven different countries. Nearly 300 property leaders were in attendance for the biggest night in Southeast Asia real estate which took place at Four Seasons Bangkok on December 15.

Thailand leads the way at the Dot Property Southeast Asia Awards 2022

“Competition both domestically and regionally has seen the quality of Southeast Asia real estate improve greatly over the past few years. From urban condominiums to beachfront villas, property seekers expect the best and the Dot Property Southeast Asia Awards 2022 winners deliver in that regard,” Adam Sutcliffe, Dot Property Director, Events and International Markets, states. “However, the Dot Property Southeast Asia Awards 2022 was much more than a celebration of winners. It was an opportunity for us all to finally be together in one place, share stories and reconnect after three long years.”

It was a night to remember for many Thailand-based developers. Best Sea View Pool Villa was presented to Supalai Scenic Bay Pool Villa from Supalai while the outstanding Hyde Heritage Thonglor from Grand Star Company was presented with the award for Best Luxury Condominium.

“We are extremely proud that Supalai Scenic Bay Pool Villa has won Best Sea View Pool Villa at the Dot Property Southeast Asia Awards 2022. We’ve worked hard to create a world class destination and winning shows our villas are unrivaled in Southeast Asia,” Khun Prateep Tangmatitham, Supalai Public Company Limited CEO, said.

SM Development Corporation (SMDC) from the Philippines won Developer of The Year Southeast Asia 2022, the top honor in addition to the Special Recognition Award for Corporate Social Responsibility while its Sail Residences and Gold City projects were also recognized.

Elsewhere at the Dot Property Southeast Asia Awards 2022, Vietnamese firm DOJI Land, RLC Residences from the Philippines and Malaysia’s Sime Darby also took home honors.

Thailand leads the way at the Dot Property Southeast Asia Awards 2022

Developer of The Year Southeast Asia 2022       

SM Development Corporation (SMDC) (The Philippines)

Southeast Asia People’s Choice Award for Project of the Year 2022

Sunshine Sky City from Sunshine Homes (Vietnam)

Dot Property Southeast Asia Awards 2022 developer winners

Developer honorees at the Dot Property Southeast Asia Awards 2022 displayed excellence in their respective categories through hard work, resiliency and ingenuity. In Thailand, Botanica Luxury, a respected Phuket villa developer, took home two awards while DOJI LAND in Vietnam made an impressive breakthrough this year.  

Best Community Lifestyle Developer – Nichada Group (Thailand)

Best Breakthrough Developer – DOJI LAND (Vietnam)

Best Resort Lifestyle Developer – Andaman Riviera Construction Co., Ltd (Thailand)

Best Luxury Developer – Sunshine Homes (Vietnam)

Best Developer Investment Villas – Botanica Luxury Phuket Co.,Ltd. (Thailand)

Best Luxury Villa Developer – Pearl Island Property Co., Ltd. (Thailand)

Best Developer Villa Architectural Design – Botanica Luxury Phuket Co.,Ltd. (Thailand)

Best Retail Developer – Sunway Malaysia (Malaysia)

Best Leisure Developer – Sun World (Vietnam)

Best Township Developer – Phu My Hung Development Corporation (Vietnam)

Best Sustainable Township Developer – Sime Darby (Malaysia)

Best High Rise Developer – Intiland (Indonesia)

Best Mixed-Use Developer – Prince Real Estate Holdings (Cambodia)

Best Developer Sustainable Villa Design – Tampah Hills (Indonesia)


Dot Property Southeast Asia Awards 2022 project winners

Projects of all shapes and sizes were recognized at the Dot Property Southeast Asia Awards 2022. High-rise condominiums, such as Hyde Heritage Thonglor from Grand Star Company Limited, are changing urban living for the better while destination developments, like Supalai Scenic Bay Pool Villa from Supalai, capture the hearts and minds of those wanting a residence in paradise.

Best Luxury Condominium – Hyde Heritage Thonglor from Grand Star Company Limited (Thailand)

Best Sea View Pool Villa – Supalai Scenic Bay Pool Villa from Supalai Public Company Limited (Thailand)

Best Mixed Use Development – Gold City from SM Development Corporation (SMDC) (The Philippines)

Best Ultra Luxury Residences Bangkok – Dusit Residences from Vimarn Suriya (Thailand)

Best Lifestyle Condominium Development – The Piazza at The Grand Citygate Davao from Grand Land Inc. (The Philippines)

Best Ultra Luxury Housing Development – Nichada Onyx from Nichada Group (Thailand)

Best New Launch Villa Development – Asherah Villas from Thai Molman Realestate Co.,Ltd. (Thailand)

Best Beachfront Resort and Residences – Sunshine Beach Resort and Residences from T.H. Group Phuket Co., Ltd (Thailand)

Best Luxury Township Development –  Empire City Thu Thiem from Keppel Land Vietnam (Vietnam)

Best High End Condominium Development – One9Five Asoke-Rama9 from TC Development (Thailand)

Best Iconic Urban Development – 57 Promenade from Intiland (Indonesia)

Best Luxury Mixed Use Development – Royal Platinum from Hong Leai Huat Group (Cambodia)


Dot Property Southeast Asia Awards 2022 design, innovation and sustainability winners

Southeast Asia has taken on a leading role when it comes to design, innovation and sustainability in real estate. Winners in these categories have shown an ability to think differently while elevating existing standards. Sierra Valley Gardens from RLC Residences in the Philippines and The Aspen Tree from Magnolia Quality Development Corporation in Thailand were among the notable projects to be honored.

Best Condominium Architectural Design – Sail Residences from SM Development Corporation (SMDC) (The Philippines)

Best Sustainable Development – Sierra Valley Gardens from RLC Residences (The Philippines)

Best Luxury Villa Interior Design – NILA Residences from Mirah Development (Indonesia)

Best Holistic Care Residences – The Aspen Tree from Magnolia Quality Development Corporation Limited (Thailand)

Best Landscape Architectural Design – Vine Residences from SM Development Corporation (SMDC) (The Philippines)

Best Green Development – Botanica Forestique from Botanica Luxury Phuket Co.,Ltd. (Thailand)

Best Ultraluxury Condo Architectural Design – One Pearl Bank from CapitaLand (Singapore)

Best Multigenerational Living Township – City of Elmina from Sime Darby (Malaysia)

Best Smart City – Gamuda Cove from Gamuda Land (Malaysia)

Best Luxury Interior Design – 8 Conlay from KSK Land (Malaysia)

Best Serviced Office Provider – Regus – Part of IWG (Southeast Asia)

Special Recognition Award for Corporate Social Responsibility

SM Development Corporation (SMDC) (The Philippines)

Special Recognition Award for Regenerative Design

Selo Group (Singapore)


Southeast Asia’s Best Real Estate Agencies 2022

Thailand leads the way at the Dot Property Southeast Asia Awards 2022

The work of real estate agencies in the region is vital to healthy markets. These firms ensure everyone can find their ideal home, holiday residence or investment. A total of five companies were named as Southeast Asia’s Best Real Estate Agencies 2022.

Bridge Estate

Prime Global Asset Co., Ltd.

Sunway Estates

Asher Property

RE/MAX Island Real Estate

CENLAND

“The performance of Thai developers, projects and real estate agencies at the Dot Property Southeast Asia Awards 2022 was truly impressive,” Sutcliffe added. “A special mention must go to the work of developers in Phuket, such as Botanica Luxury and Pearl Island Properties who are behind Anchan Villas. Their ability to understand the local market and buyer preferences and then deliver exceptional residences has cemented their place among the region’s top homebuilders.”

The Dot Property Southeast Asia Awards 2022 would like to thank Savills and their CEO Robert Collins for serving as official Awards Consultants. A special mention also goes to official venue partner Four Seasons Bangkok and VIP Transportation provider Mercedes-Benz Primus Autohaus for their continued support.

BJC launched “Donjai”, a new retail business model to support Mom and Pop Store

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BJC launched "Donjai", a new retail business model to support Mom and Pop Store

BJC launched “Donjai”, a new retail business model to support Mom and Pop Store

FRIDAY, DECEMBER 23, 2022

BJC developed a retail business model based on “Sho Huay Shop” under the name “Donjai” to develop a POS system aiming to help small shop operators grow sustainably.

This alliance with both suppliers and commercial banks will be announced next year. The plan is to open up more 8,000 stores with a target of 30,000 more stores by 2027.

Mrs. Thapanee Techajareonvikul, Senior Executive Vice President of Chief Executive Officer of Berli Jucker Public Co., Ltd. or BJC said, “The concept of ‘Donjai’ originated from Khun Charoen Sirivadhanabhakdi who wanted to participate in helping to develop local entrepreneurs to be able to generate long-term growth, developing Sho Huay stores to have a modern management system with information data base to drive sustainable sales. The soft launch project of Donjai began in early 2022 was well received. Approximately 1,000 grocery store operators have joined us and we will continue to launch official partnerships in early 2023.”

BJC launched "Donjai", a new retail business model to support Mom and Pop Store

The 2023 goal is to increase the network to about 4,000 stores and to continue having a network of 30,000 stores nationwide by the year 2027. The stores joining the network are 1 of over 400,000 grocery stores nationwide. It is a small to large community retail store that sells directly to consumers, including wholesalers.

Mrs. Thapanee said, “Although there are many large operators under this model, I think it’s good to help develop entrepreneurs of grocery stores to have better management skills to bring sustainable growth in the long term. Grocery store operators are important in driving the grassroot economy. Their weaknesses in terms of management especially in stock management added a significant cost over the years and this the number of grocery stores nationwide did not increase much.”

BJC launched "Donjai", a new retail business model to support Mom and Pop Store

Mrs. Thapanee added that the highlight of “Donjai” is that store operators can design their own investments and select products for sale without sharing profits with anyone even though the investment budget is not high. The store format is divided into 2 types: the first format, BJC uses Big C, Retail stores under BJC group to be a distributor of products for the convenience of ordering products and the second format is to adapt the POS system developed to suit and meet business needs of grocery stores. BJC will renovate the shops to have a modern style and attract more customers. The shop owners can choose the scope of improvement or decorate the shops by themselves according to the budget. No matter which types they choose, the project will charge a monthly expense as a system administration fee of about 4,000 baht that will be returned to the store based on the products purchased.

BJC launched "Donjai", a new retail business model to support Mom and Pop Store

The distribution of products to the store will be under Big C network with over 200 branches to assist in the delivery. The operators can ensure that there will be no problem in managing the products that will be sold in the stores with this developed POS system showing clearly the information of which products sell best or what products are needed by the community to enable efficient management and to reduce costs and solve the problem of stock management. 

“‘Donjai’ was born on the basis of our intention to come and help develop grocery stores to have good management. This will ultimately affect the sustainable growth of the whole system, not only BJC’s affiliated businesses like Big C whose customers are part of the grocery trader only but also, to grocery store operators and suppliers, product owners who join in the Eco system of Satisfaction to grow together in Thailand. We also look at developing projects Donjai in Vietnam by using the prototype from Thailand to develop further there. This will be another opportunity for Thai products to be able to expand and the opportunity to sell to Vietnamese people as well.” Mrs. Thapanee concluded.

RATCH’s CFO named Asia’s Greatest CFO 2022-2023

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RATCH’s CFO named Asia’s Greatest CFO 2022-2023

RATCH’s CFO named Asia’s Greatest CFO 2022-2023

FRIDAY, DECEMBER 23, 2022

Mrs. Wadeerat Charoencoop (middle), Chief Financial Officer of RATCH Group Public Company Limited, a leading power company in Thailand with an ambitious vision to become a leading value-oriented energy and infrastructure company in Asia Pacific, was awarded with Asia’s Greatest CFO 2022-2023.

The event was organised by AsiaOne Magazine, a leading India’s magazine.

The award was recently presented by H.E. Abderrahim Rahhaly (left), Ambassador of the Kingdom of Morocco to the Kingdom of Thailand and H.E. Dr. Sándor Sipos (right), Ambassador of Hungary to Thailand, at India-Thai Chamber of Commerce, Sathorn, Bangkok.    

Thailand-made Covid-19 vaccine expected to be ready in mid-2023

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Thailand-made Covid-19 vaccine expected to be ready in mid-2023

Thailand-made Covid-19 vaccine expected to be ready in mid-2023

FRIDAY, DECEMBER 23, 2022

The first Thai Covid-19 vaccines will be ready and registered in the middle of 2023 if the third phase of research is successful.

Health Minister Anutin Charnvirakul on Friday chaired the opening ceremony for the third phase of the HXP-GPOVac vaccine research by the Government Pharmaceutical Organisation (GPO).

He said once the research is complete, Thailand will be able to produce vaccines to use as booster doses.

It would reduce procurement costs and strengthen the public health system after the country spent around 80 billion baht on buying Covid-19 vaccines.

GPO managing director Withoon Danwiboon said, “If the research progress is in line with the schedule, [the vaccine] will be registered in the middle of 2023. We could produce the first batch of 5-10 million doses per year, which would be sufficient for domestic booster doses, but the number could be increased.”

Dr Kriangkrai Prasert, the head of the third phase of the study, said that the GPO would test the vaccine on 4,000 volunteers to check the safety and efficiency of immunity with blood tests after 14 days, three months, six months, and one year.

Tests will be conducted on those who receive two doses of the same vaccine and will be administered as a 10-microgramme booster dose with intramuscular injection.

Volunteers will get the vaccines from December 23 to 29, 2022, or January 5 to 11, 2023 at either Nakhon Phanom City Hall or the Na Kae district office.

The volunteers must be over 18 years old, be healthy without any symptoms from any underlying disease, should not have been infected with Covid-19 within three months, and been negative in an antigen test on vaccination day.

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Omicron’s shorter incubation period makes it more infectious: virologist

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Omicron’s shorter incubation period makes it more infectious: virologist

Omicron’s shorter incubation period makes it more infectious: virologist

FRIDAY, DECEMBER 23, 2022

A top Thai virologist has warned that it may have become easier to contract Covid-19, now that the virus has a shorter incubation period.

In a Facebook post on Friday, Dr Yong Poovorawan explained that previously the virus’s incubation period was around five or six days.

However, he said, the Omicron variant takes only three days to incubate, which gives the immune system very little time to fight back.

Hence, he said, it is easier and quicker to get infected.

Dr Yong added that immunity provided by vaccines may not prevent infection, but can reduce the severity of the disease.

He believes 90% of Thais have built up their immunity either with vaccines or previous infections. However, he said, more than 70% of them may get infected again but with fewer symptoms.

Omicron’s shorter incubation period makes it more infectious: virologist

He also said that eventually, people will have to live with the disease because it will become commonplace like influenza.

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Building the team behind a K-pop superstar

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Building the team behind a K-pop superstar

Building the team behind a K-pop superstar

FRIDAY, DECEMBER 23, 2022

Success is now not just about the fame of a single K-pop act. It’s the whole system of personnel working together to keep the “brand” in the limelight.

“Million-seller” had been a title not many in the K-pop industry could achieve, but it has become undeniably more commonplace compared to a few years ago. K-pop, once a minor genre in the global music market, has grown at an ever-faster pace to form a whole industry unto itself.

System for spotlight

Kim Jin-woo, the CEO of multilabel company RBW, said the key challenge for the industry now is establishing a company with concrete fundamentals that can compete in the global market.

“The key to success is the quality of content, and the main factor deciding the quality is how much the company can invest. If we’d made the early Mamamoo music videos with a 50 million won ($38,400) budget, now we have to spend at least 10 times that to compete against other big-name groups,” Kim said.

Such enhanced quality comes from the raised global awareness and presence of K-pop groups over the last three years or so. According to Kim, while K-pop’s global reach has made steady progress over the past decade, the growth during the pandemic was unprecedented.

“K-pop companies are now making content to compete in the global market, like Hollywood for example. It has to be able to stand out in such an expanded market. The marginal cost in producing quality content has increased immensely,” the entrepreneur said.

Such a paradigm shift has allowed large companies with deeper pockets to come out on top, with smaller and smaller labels either dying out or being absorbed by those powerhouses.

Entertainment firm RBWEntertainment firm RBW

Kim urged that it is essential for small labels to cultivate an organized system, not only for those firms to survive but for the whole K-pop industry to go in the right direction.

“Producing a K-pop singer is like operating a boat. It’s the artist who stands up front, but there are people who row the boat, raise the anchor, spread the sails and turn the wheel. All crew members have to work together like one in order for the artist and the company to succeed,” the label chief said.

Rather than chasing short-lived success, Kim has spent 12 years compiling knowledge and building the system upon which companies, and their members, could prosper in the long term.

RBW, short for Rainbow bridge World, was co-founded by Kim Jin-woo and his partner Kim Do-hoon, also the chief producer, in 2010. Kicking off with a budget of 100 million won ($76,600), the two young CEOs could not make their own music from the start. The early years were devoted to performing the roles they could inside the entertainment industry, making music for other musicians, taking up agent roles, marketing and networking.

“We were able to compile experiences and go through trial and error because we worked for others. We continued to study and research how to build a sustainable system in the meantime, learning from not just our own but others’ experiences,” Kim said.

Now, RBW has grown into a profit-making production with over 4,000 intellectual properties related to music under its belt. In November 2021, RBW officially listed itself on the nation’s secondary, tech-heavy market Kosdaq.

Entertainment, not entertaining

Kim has been sharing his insight as an entertainment entrepreneur through various channels since 2016, including at the entertainment business department at Myongji University, which he established and teaches, and a government-funded training course.

In November, he published the book “25 Business Secrets for a K-pop Production” to spread his initiative to the wider general public. Through his book, the CEO not only aimed to give insight into how people work inside the industry but also share the reality that is often overlooked from the outside.

Kim said the overbearing spotlight on K-pop artists is a “social problem” and stressed there is much more than what people see on the stage.

“Our society recommends becoming a K-pop artist. There are over a dozen audition programs (on TV) flooding out every year, but this industry really doesn’t need that many stars. The industry might be prospering, but behind this bright side lies the truth that more people are failing to achieve their dream as an artist and are wasting their youth,” Kim said. “This has become a serious social problem.”

While a label launches just one to two new groups a year, several dozen teenagers endure grinding months to years in training. A handful of top-tier trainees debut, but even among them, only a lucky few can achieve stellar success. Kim said those who do not make it to the spotlight have the potential to contribute to the industry behind the stage.

“They know what it takes to become an artist, who works with the artists and how to communicate inside the industry, and rather than starting from scratch for another job, they could make use of the precious asset here,” said Kim, who explained he himself also once pursued a career as an artist.

Such experience is also valuable as it is not easy to see what it really takes to run a K-pop business, which is the reason Kim published his book. The CEO hoped his book could become like a beginner’s guide for those wanting to work in the entertainment industry.

“Right now, there are too many people who jump into entertainment to ‘entertain.’ But it’s not all about entertaining. There’s work to be done here, just as with any other business,” he said.

According to Kim, RBW is exporting such cultivation system overseas through business partnerships as well.

“If the first-generation K-pop was about performing abroad, the second generation was the foreign labels sending their artists to South Korea for training. Now, we’re training not the artists, but the producers and staff members who create those artists,” he said.

Kim’s emphasis on building a well-organized company with well-educated people is based on his long-term vision and deeply rooted passion for K-pop. RBW’s vision is to not just prosper alone but to nurture a healthy ecosystem upon which new companies can prosper and keep the industry growing.

Under Kim’s vision, RBW has been taking the incubator role step by step, acquiring smaller aspiring labels under its roof and giving them full independence in operations, yet supporting them financially and systematically. Following its market listing last year, the company has conducted mergers and acquisitions involving DSP Media, WM Entertainment and, most recently, Goodfellas Entertainment.

“I believe there are younger minds who could strive higher than me. We’ll continue to make good artists and content of our own, but we’d like to go beyond that. Whether it be through investment or acquisition, we’d like to find the best strategy for startup companies and help them accelerate, as with the case of WM and DSP,” Kim said.

The Korea Herald

Asia News Network

Soft power spices up Thai food sales

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Soft power spices up Thai food sales

Soft power spices up Thai food sales

FRIDAY, DECEMBER 23, 2022

Soft power demonstrated by Thai and foreign influencers has helped boost orders for various Thai foods this year, on-demand delivery platform provider Line Man said on Friday.

Citing results of surveys conducted among Thai consumers nationwide, it said soft power helped boost sales for restaurant operators, farmers and food ingredient manufacturers.

“Just remarks or pictures on social media by influencers can go viral among netizens overnight,” Line Man said.

For instance, Line Man said orders for mango sticky rice had exceeded 320,000 sets within three months, thanks to Thai rapper Danupha “Milli” Khanatheerakul‘s gesture of consuming the dish at the Coachella Valley Music and Arts Festival in California in April.

Commanding the stage in a skimpy red outfit, Milli took a break from her twerk-heavy dance routine to grab a bowl and take a mouthful in an effective show of soft power.

“Total orders for mango sticky rice during the period accounted for 150 tonnes of mangoes and 60 tonnes of sticky rice,” Line Man said.

Khanom BabinKhanom Babin

Line Man also said that orders for Roti Sai Mai (Islamic-style crepes with Thai-style cotton candy) had risen by three times within a week, thanks to BlackPink’s Thai member Lalisa “Lisa” Manoban’s post on Instagram in July.

Meanwhile, orders for durian rose to 41,000 pieces between July 21 and August 21, thanks to a remark by K-pop phenomenon Jackson Wang of South Korea’s boyband GOT7 that he likes this fruit, it added.

During an exclusive interview with EFM94 Thai radio station in July, Wang said he likes durian, adding that he is ready to eat durians every day during his stay in Thailand.

Khao SoiKhao Soi

Separately, Line Man said orders for Khao Soi (Northern Thai curry noodles) had exceeded 316,000 bowls within three months after it was named the best soup in the world by TasteAtlas.com in August.

“Meanwhile, more than 1.85 pieces of Khanom Babin (coconut pancake) were ordered between January 1 to November 15 this year, thanks to food bloggers and netizens’ reviews,” it said.

Som TamSom Tam

Line Man said more than 6.8 million dishes of Som Tam (Thai-style papaya salad) were ordered between January 1 to November 28 this year.

It added that other Isaan dishes, such as Laab Moo (minced pork salad) and grilled pork neck, saw increased sales as well.

“It showed Isaan foods’ role in strengthening relationship among families and friends,” Line Man added.

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Kaspersky: what cyber confrontation looked like in 2022

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Kaspersky: what cyber confrontation looked like in 2022

Kaspersky: what cyber confrontation looked like in 2022

FRIDAY, DECEMBER 23, 2022

2022 was marked by a 20th-century-style military conflict – that definitely brought uncertainty and some serious risks of spreading over the continent. While the broader geopolitical analysis of the conflict in Ukraine and its consequences are best left to experts, a number of cyber-events took place during the conflict that turned out to be very significant.

The story of the year, prepared by Kaspersky researchers within annual Kaspersky Security Bulletin, tracks every stage of the armed conflict in Ukraine, the events that have taken place in cyberspace and how they correlated with on-the-ground operations.

Significant signs and spikes in cyberwarfare in the days and weeks pre-dating military conflict were seen. February 24, 2022 saw a massive wave of pseudo-ransomware and wiper attacks indiscriminately affecting Ukrainian entities. Some were highly sophisticated, but the volume of wiper and ransomware attacks quickly subsided after the initial wave, with a limited number of notable incidents subsequently reported. Ideologically-motivated groups that presented themselves in the original wave of attacks appear to be inactive now.

On February 24, Europeans relying on the ViaSat-owned satellite faced major internet access disruptions. This “cyber-event” started around 4h UTC, less than two hours after the Russian Federation publicly announced the beginning of a “special military operation” in Ukraine. The ViaSat sabotage once again demonstrates cyberattacks are a basic building block for modern armed conflicts and may directly support key milestones in military operations.

As the conflict has evolved, there is no evidence that the cyberattacks were part of coordinated military actions on either side. However, there are some main characteristics that defined the 2022 cyber confrontation:

•    Hacktivists and DDoS attacks. The conflict in Ukraine has created a breeding ground for new cyberwarfare activity from various groups including cybercriminals and hacktivists, rushing to support their favourite side. Some groups such as the IT Army of Ukraine or Killnet have been officially supported by governments and their Telegram channels include hundreds of thousands of subscribers. While the attacks performed by hacktivists had relatively low complexity, the experts witnessed a spike in DDoS activity during the summer period – both in a number of attacks and their duration: in 2022, an average DDoS attack lasted 18.5 hours – almost 40 times longer compared to 2021 (approx. 28 minutes). 

Kaspersky: what cyber confrontation looked like in 2022

Total duration of DDoS attacks detected by Kaspersky DDoS Protection in seconds,
by week, 2021 vs 2022

•    Hack and leak. The more sophisticated attacks attempted to hijack media attention with hack-and-leak operations, and have been on the rise since the beginning of the conflict. Such attacks involve breaching an organization and publishing its internal data online, often via a dedicated website. This is significantly more difficult than a simple defacing operation since not all machines contain internal data worth releasing. 

•    Poisoned open source repositories, weaponizing open source software. As the conflict drags on, popular open-source packages can be used as a protest or attack platform by developers or hackers alike. The impact of such attacks can extend wider than the open-source software itself, propagating in other packages that automatically rely on the trojanized code.

•    Fragmentation. Following the start of the Ukraine conflict in February 2022, many western companies are exiting the Russian market and leaving their users in a delicate position when it comes to receiving security updates or support – and the security updates are probably the top issue when vendors end support for products or leave the market.

 “From February 24 onwards, we’ve been puzzled with a question, if cyberspace is a true reflection of the conflict in Ukraine, it represents the pinnacle of a real, modern “cyberwar”. By going through all the events that followed military operations in cyberspace, we witnessed an absence of coordination between cyber and kinetic means, and in many ways downgraded cyber-offence to a subordinate role. Ransomware attacks observed in the first weeks of the conflict qualify as distractions at best. Kinetic attacks using missiles and unmanned aerial vehicles have once again proven to be a more effective method of targeting infrastructure than cyberattacks. Nevertheless, collateral damage and cyber risks have grown for organizations in nearby countries due to the conflict, requiring advanced defensive measures more than ever,” comments Costin Raiu, Director of the Global Research & Analysis Team at Kaspersky.

Siam Commercial Bank wins two world-class awards, named Best Bank of the Year for Asia-Pacific region and for Thailand

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Siam Commercial Bank wins two world-class awards, named Best Bank of the Year for Asia-Pacific region and for Thailand

Siam Commercial Bank wins two world-class awards, named Best Bank of the Year for Asia-Pacific region and for Thailand

FRIDAY, DECEMBER 23, 2022

Siam Commercial Bank (SCB) has once again proven its superiority by being selected for prestigious Best Bank of The Year in the Asia-Pacific region and Best Bank of The Year in Thailand 2022 awards for the third time in the last five years.

The  Bank of the Year 2022 awards and ceremony were organized by The Banker, a provider of economic and financial intelligence for the global financial sector and a member of the world’s leading media outlet The Financial Times.  The two awards demonstrate the Bank’s resolve to turn its traditional company into a financial technology firm by implementing a major organizational restructure that has resulted in dramatic changes to working styles and business practices. In the past year, the success of the transformation has begun to manifest itself in the form of higher earnings, a better capital position, decreased operating expenses, and enhanced operational efficiency.

In sharing the good news, Siam Commercial Bank Chief Executive Officer Kris Chantanotoke revealed, “Amid the influx of new digital technology that has disrupted traditional banking operations and completely changed the landscape and competitive context of the banking business, SCB foresaw the need for its current ongoing major organization restructuring to support our banking business, both now and in the future. The Bank must be mindful of a variety of challenges, particularly non-bank competition. Success will depend on how well the business portfolio manages to address the many issues and requirements of the target market. Increasing the use of digital technology to back digital sales, raising revenue from strategic partners, decreasing the cost-to-income ratio, and keeping a solid capital basis are all part of the plan.”

Siam Commercial Bank wins two world-class awards, named Best Bank of the Year for Asia-Pacific region and for Thailand

“The Bank recognizes that a major reorganization necessitates the cooperation and resolve of all employees to adapt their mindsets and attitudes in the best way possible.  It will involve learning to use modern technology, adjusting approaches, and increasing productivity through the use of more technology, with the belief that the cooperation of employees will allow us to maintain standards and provide the best services and experience to customers who have always placed their trust in the Bank’s services. Siam Commercial Bank has every reason to be proud to have won these prestigious accolades.”

Siam Commercial Bank wins two world-class awards, named Best Bank of the Year for Asia-Pacific region and for Thailand

Revolutionizing financial reporting in the digital age

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Revolutionizing financial reporting in the digital age

Revolutionizing financial reporting in the digital age

FRIDAY, DECEMBER 23, 2022

Finance and Accounting team, if you ever happened to discuss what they have been suffering from their work so far, one of the most frequently mentioned issues will certainly include a painful report production process – by Vichai Suknaibaiboon, Advisory Partner at Deloitte Thailand.

Repeatedly, month after month, to serve such standards and business and executive requirements, the FA people need to dedicate their time and motivation in preparing numerous spreadsheets and presentations with numbers, charts, and relevant footnotes and narratives. The process involves efforts of data gathering, manipulation, and spreadsheet gymnastics, which can consume days to weeks to produce the usable outcomes. Based on the survey of 600 global finance leaders conducted by Deloitte, it was found that companies surveyed spent 48% of their time creating and updating reports, whilst they spent only 18% of their time interacting and communicating with the business perspective (See Figure 1).

Revolutionizing financial reporting in the digital age

More than ever, especially after the COVID-19 pandemic, businesses currently require greater support from holistic reporting in decision-making process to strengthen themselves or at least survive the upcoming crisis. Though many companies have strived to reduce time in generating reports and enhance ability to get insights more quickly by standardizing reports into those ones which are necessarily required, there is still a huge room for improvement in response to the dynamically changing business requirements. We can see that the trend is shifting from periodic reporting-monthly, quarterly, and annually to a more real-time-insights manner for off-cycle reporting. Further transformation entails the interaction between working people and reported information which will replace static data merely displayed in the system or printed on paper. Underlying these mentioned characteristics, the key driver for changes lies on emerging intelligent technologies which will not only remove laborious work but also improve the user experience. 

Embracing digital tools could have been one among alternatives for FA people to reshape their work life by speeding up report production process. Little by little, some companies have started implementing such tools as point or end-to-end solutions, while many are still hesitating to transform themselves. Yet, it is quite surprising to learn that many organizations are still relying on traditional ways to compile data from sources and produce into reports despite the prevalent handful technologies, such as automation, advanced analytics, machine learning, presence nowadays. Perhaps one of the factors that delay the decision to do so is just basically that the management do not know how to push the start button. Here are some tips we would like to share:

Organize your data. Because your report quality will certainly depend on the quality of your data, somehow you will need to redesign the way to manage your finance and enterprise data prior to the adoption of those digital reporting tools. This could involve implementing data platforms that can develop gradually to support structured and unstructured data or cleansing your data to avoid ‘Garbage-in, Garbage-out’. 

Gain buy-in from the C-Suite. We know that the first mover role here should belong to CFO since the issue was raised from FA side. Nonetheless, it is also crucial for the CFO to bring these ideas to the entire C – suite. If other leaders support technological innovation in finance, it can also help the business to further adopt the innovation and apply to other functional processes to make the most of their capabilities.

Focus on the user experience. Early in your journey, explore “what-if” questions with key users. Ask them how they might use information differently if their reports were more intuitive, more visual, and more proactive. Build in formal and informal mechanisms for generating feedback. These actions make sure you put technologies in the right place and right way.

Take small steps. Just try applying solutions to specific segments or functions first. You do not want to make a huge investment at a time to find it hurts the most when things are not going well as you have dreamt of. Look for high-impact use cases to build a base of advocates. For many firms, sales reports can be a good choice to start with. Make sure you pilot with a range of potential users who will become your champions. Then you can span the full range of usage among those who will eventually adopt the technology.

Reassure your people. Workforce disruption is inevitable for companies trying to adopt automation or digital tools. Since some more routine and laborious tasks may be obsolete when new technologies take place, make sure you have plan to build new talents and skills for your people to cope with the changes. Work with employees to make the most of their human skills, empowering them in new roles that rely on high-level analysis, relationship-building, and creativity.

Reimagine your people. Start thinking about your people in future conditions. What types of skillsets you will need? Be aware that, with the handful digital tools armed in your company, the time allocation of the finance workforce will shift toward analysis, prediction, and decision support. Thus, in collaboration with your HR team, make sure they understand this so that you will get the right persons at hand.

Finally, let us imagine how life would be much easier if there is a personal assistant helping you gathering data and composing the first draft of all reports, or the chatbots that can retrieve insights you need to know without diving in all sources of data by yourself. Now you can focus on the value-added activities.