Electrical-electronic device sector provides highest salary: JobsDB

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The Electrical and electronic device business provides the highest salary for employees followed by the IT business, JobsDB said on Tuesday.

Electrical-electronic device sector provides highest salary: JobsDB

The job-search platform was revealing the top ten businesses with the highest salaries amid the Covid-19 crisis this year.

Its survey, which included the years 2020 and 2021, aims to boost opportunities for job seekers amid digital disruption and political instability.

JobsDB managing director Duangporn Promon said many government and private businesses have adapted to cope with the Covid-19 crisis, such as applying technologies and improving operations to cope with changes in consumer behaviour.

This has led to an expansion of the computer and IT industry and an increasing demand for employees in the sector, she pointed out.

“In 2021, computer and IT industry firms announced they would recruit more than 12,200 workers,” she said.

She added that there is a possibility new graduates would get salaries of THB30,000 depending on their potential.

Duangporn said demand for employees in the tourism industry has also increased in response to a recovery in tourism.

“However, employers in the tourism industry have not increased salaries as high as the IT industry has,” she said.

Duangporn added that the report also indicated that organisation size is not an important factor in determining salaries as some industries that need skilled employees offer salaries higher than large organisations.

The insurance industry had the highest salary increase percentage of 33.3 per cent, followed by hotels and restaurants at 18.2 per cent, she said.

The top ten businesses with the highest salaries are:

1. Electrical and electronic device business: THB37,500

2. IT business: THB32,500

3. Banking and finance business: THB32,500

4. Telecommunications business: THB32,000

5. Insurance business: THB30,000

6. Real estate business: THB25,500

7. Transportation business: THB25,500

8. Distribution business: THB25,000

9. Food, beverage and catering business: THB25,000

10. General manufacturing business: THB25,000

Published : May 18, 2022


No hype! Thai brands go viral with promise of ‘ordinariness’

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Tired of all the hype from advertisers promising paradise if you buy their products?

No hype! Thai brands go viral with promise of ‘ordinariness’

You are not alone, judging by the latest big trend in Thai advertising campaigns.

Brands are going viral with Facebook adverts showcasing the “ordinariness” of their products – defying Thailand’s obsession with luxury and exclusivity.

The trend took off on Friday when Thai apparel manufacturer Double Goose flew in the face of advertising wisdom by showcasing its “ordinary” shirts for ordinary people’s needs.

Thai shoe manufacturer Nanyang quickly jumped aboard the honesty bandwagon, replying that its shoes were “ordinary” as well.

On Saturday, Origin Property added real estate to the snowballing trend.

“We understand your lifestyle amid the ups and downs of work and living. We also understand that ordinary people want places to rest,” it posted, before promising:

“You can experience unordinary relaxation in ordinary condominiums and houses with unordinary room layouts here.”

Real estate rival SC Asset, with plans to build 40 billion baht’s worth of houses and condos this year, quickly joined the race to connect with the “common” man and woman. Ordinary people were “special” to the company, it posted on Facebook.

The new trend was hailed as proof of Thai marketing executives’ ability to think outside the box to connect with consumers online.

Published : May 08, 2022


Experts expect Asia to weather impact of Russia-Ukraine war despite immediate risks

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Economists and analysts have warned that Russia’s invasion of Ukraine would impact Asia’s energy and commodity prices and affect growth more than previously expected, but they still believe the region could handle the crisis in the long term.

Experts expect Asia to weather impact of Russia-Ukraine war despite immediate risks

Speaking at a webinar hosted by the Asia News Network on “Impacts of food and energy crises on Asia” following Russia’s invasion of Ukraine, Albert Park, chief economist of Asian Development Bank (ADB), said the conflict brought with it several risk factors that have shaken investor and consumer confidence, resulting in less spending. Therefore, the increase in oil and gas price might cause severe impacts, he warned

Park said the overall Asian economy was currently experiencing financial market volatility caused by the aggressive sanctions on Russia by the US and western partners, followed by capital outflows and currency depreciation that have led to a rise in financial stability risks in the region.

Meanwhile, there are also risks from the latest outbreak of Omicron in Shanghai and Guangzhou, in China, and the two major cities are under strict lockdown.
If the Russia-Ukraine war continues longer, it could affect the planting seasons in Ukraine, which would definitely lead to a shortage of staple grains such as wheat, maize, corn as well as rapeseed oil.

Park, however, believes that most Asian nations would face only a moderate impact on food price, as those grains are not a staple for the region. However, a prolonged war could put price pressure on rice, a major staple food of this region, as some countries have started to substitute rice for other grains.

Raimondo Serra, the European Union’s directorate-general for agriculture and rural development for Asia and Australia, added that the Russian war had not only led to a spike in food prices but it had also hiked the cost of farming, as Russia is one of the world’s major exporters of fertilisers.

In his opinion, although most Asian countries are far from the battlefield in Ukraine, they are still the indirect victims of the Russian invasion because the war has led to a sharp increase in the price of natural gas, a key ingredient in fertilisers.

Serra said higher fertiliser prices were making the world’s food supply more expensive and less abundant. This situation comes at a time when the UN Food and Agriculture Organization reported recently that the world food-price index in March had reached the highest level since records were kept in 1990.

However, overall Asia could manage to stabilise growth, he said. 
ADB estimates that Asia is going to see an average 5.2 per cent GDP growth this year and 5.3 per cent growth next year, on continued recovery in domestic demand and solid exports, while inflation will rise to 3.7 per cent in 2022 and 3.1 per cent in 2023.

In the meantime, the pace of recovery remained uneven across economies. South Asian countries will see on average 7 per cent growth this year and 7.4 per cent next year, outperforming East Asian and Southeast Asian countries.
Despite various risks and challenges, experts recommended that governments in Asia continue to maintain their support for economic recovery, sustain their development goal, and keep investing in green transformation as well as reforming their tax and financial system.

Published : April 13, 2022


Cryptocurrencies: Are authorities trying to control the uncontrollable?

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Amidst the war in Ukraine, the use of cryptocurrencies has passed a true test of strength in the debate on the advantages of using cryptocurrencies over traditional ‘money’, as they are decentralised and might be the only means of payments left.

Cryptocurrencies: Are authorities trying to control the uncontrollable?

It is undeniable that cryptocurrencies have a unique place despite the controversy surrounding them.

Thailand is a world leader in the proportion of internet users who own cryptocurrencies, an average of more than 2 in 10 according to the Digital 2022 Global Overview Report. Thai regulators have recognised such a trend and have been trying to restrict the adoption of cryptocurrencies in Thailand.

The event that triggered a regulatory mindset in Thailand came from the fundraising of J-fin coin in 2018, which was sold out within a few days.

In response to that, a royal emergency decree was issued governing digital assets, which became effective from May 14, 2018. The decree was mainly divided into regulating the offering of digital tokens, and digital asset operators including exchanges.

Since then, Thai regulators have been following up with the development of the industry and have gradually issued more regulations in response to the actions of players in the digital asset network.

Take the recent amendment to the regulation issued in 2021 as an example. The Securities and Exchange Commission (SEC) prohibits certain tokens from being listed on licensed exchanges. They are: meme tokens; fan tokens; NFTs, and tokens issued by an exchange cannot be listed on the same exchange.

This caused a stir within the industry as this prohibition may raise a lot of uncertainties and limit the growth of digital asset operators.

For example, it is unclear what is considered a “meme token” since some may simply be in the stage of development and they are not meaningless, or tokens issued by exchanges have already been done and it creates an uneven field for newcomers.

Not to mention, the rationale for not allowing NFTs to be listed is still puzzling for those involved.

These prohibitions, as a result, may lead Thai exchanges to be less competitive than foreign exchanges in terms of product offerings.

To top it off, late last year, the Revenue Department reminded relevant persons to report and pay any taxable income derived from cryptocurrencies based on the 2018 decree.

The Revenue Department is well aware that more clarifications are needed, such as how to calculate capital gains from trading or the timing to be considered as having gains from farming or mining of cryptocurrencies.

After receiving feedback from the industry, a manual clarifying these issues was issued in January 2022. Also, recently a regulation was issued to allow losses from trading on the approved exchanges to be deducted for individuals, and there will be a follow-up on related laws for further clarity, for instance VAT may be exempt for trading on approved exchanges.

Further, in response to increasing cooperation among commercial industries and digital asset operators to use cryptocurrencies as a means of payments, the authorities have a major concern about financial stability as there may be other units of accounts prevailing over the baht.

Consequently, the authorities plan to issue a regulation, effective from April 1, to prohibit digital asset operators from not supporting the use of any digital assets as a means of payment, which include the restrictions on not providing any systems supporting such activities.

Regulations on cryptocurrencies are still in the process of development and constantly adapt to changes in the digital assets industry.

To support the growth of Thai digital assets operators and enable them to be competitive in the worldwide market, regulators may consider incentives and fewer restrictions to make Thailand a hub of the business, given that we have demand from investors and readiness of players in our country.

It is always important to note the balance between business opportunities from the emerging industry of digital assets, and concerns about government control or investment risks in which authorities, digital assets operators and investors will help shape the tone and its movement.

Published : April 12, 2022


MQDC Engages Accenture to Develop Metaverse Project

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Magnolia Quality Development Corporation (MQDC) has teamed up with Accenture, a global professional services company, to create the MQDC Metaverse – a seamless connection for people between reality and the virtual world.

MQDC Engages Accenture to Develop Metaverse Project

Magnolia Quality Development Corporation (MQDC) has teamed up with Accenture, a global professional services company, to create the MQDC Metaverse – a seamless connection for people between reality and the virtual world.

Parut Penpayap, project director of MQDC Metaverse, said MQDC would create positive outcomes and authentic unique experiences through its own Metaverse. Accenture will support MQDC in inclusive business planning, marketing development and user experience design.
“This Metaverse Development Project demonstrates to our customers that we are not just a premium real estate developer but also an advanced technology and innovation service-provider for all well-being”, said Parut.

He added that MQDC is the first company in Thailand’s property sector to step into the metaverse. The concept for the MQDC Metaverse project can be divided into three parts.

MQDC Engages Accenture to Develop Metaverse Project

The first is to deliver an experience beyond imagination to customers and newcomers. The second is to develop new areas for people who are interested in participating in business development in the metaverse. And the third is to create an infinite space that connects the real world with the virtual world to allow customers and the general public to participate in various activities. Customers will be able to enter hybrid experiences that have never been seen anywhere else in the world, MQDC promised.

MQDC Engages Accenture to Develop Metaverse Project

“We are confident about the development of our Metaverse project. With creativity technology expertise as well as a deep understanding of Accenture’s metaverse development, our Metaverse project will bring comprehensive value and benefits to all users”, said Parut.

MQDC Engages Accenture to Develop Metaverse Project

Husin Adam, Accenture Thailand’s managing director, product industry lead, added that Accenture’s collaboration with MQDC would expand the reach of the digital world and bring consumers an immersive experience in an environment enriched with the physical, virtual and fantasy worlds.

“We believe there are massive opportunities in the metaverse, which will change how our business operates. Our -metaverse-powered] business will connect to our customers. We also believe that this (MQDC) project has a lot of potential. For Accenture, our expertise will lead you on a great metaverse journey”, said Husin

MQDC Engages Accenture to Develop Metaverse Project

Parut added that the announcement was merely the first phase in the journey of the MQDC Metaverse project. He said more interesting events will be launched in future, as the MQDC Metaverse’s ultimate goal is to allow simple access for clients all around the globe.

MQDC’s Metaverse project also plans to connect with Translucia Metaverse. This project is under the management of T&B Media Global (Thailand), a global entertainment content and animated series production company.

MQDC Engages Accenture to Develop Metaverse Project

Meanwhile, MQDC is also one of 11 partners of T&B Media Global who are co-issuing Crown Tokens – a digital asset which launched on leading crypto trading platform ZIPMEX last month. Crown Tokens link intellectual properties to non-fungible tokens (NFTs) and the metaverse to create a fully integrated ecosystem.

Published : April 08, 2022

Energy Absolute, MEA, JRW Utility join hands to build EV smart charging stations

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EA Anywhere is seen as a pioneer and the leader in the charging service business, which is in line with EA’s strategy to become the complete leader in EV.

Energy Absolute, MEA, JRW Utility join hands to build EV smart charging stations

To prepare for the future of the Thai automotive industry, three giants — Energy Absolute (EA), Metropolitan Electricity Authority (MEA), and J.R.W. Utility — have joined hands to develop EV smart charging stations to join the drive in making the country pollution-free and environmentally friendly.

As the world focuses on development that takes into account its impact on the environment and energy security, many countries are opting for environmentally friendly energy consumption, especially the automotive industry by developing more EVs. The Thai government has set a target to become the EV hub of Asean. However, the development of charging stations infrastructure in the country has been lagging.

Energy Absolute, MEA, JRW Utility join hands to build EV smart charging stations

Recently, EA’s subsidiary Energy Mahanakhon Co Ltd (EMN) signed a memorandum of understanding with MEA and JR for an EV smart charging station project to allow flexibility in EV usage with the first two projects.

EA’s chief executive officer Somphote Ahunai said that this cooperation will support EV usage. By supporting the development of more flexible EV charging stations, he said they had looked at the possibility of developing an EV smart charging station as well as other business opportunities that are related to EVs. MEA will help EV charging stations in applying for the electricity, while JR will plan and facilitate the engineering aspects related to the construction of EV charging stations with EMN.

“This cooperation will be a part of infrastructure development to support EV innovation for the automotive industry in the new era. It will also help to reach the goal set by the national EV road map of EVs comprising 30 per cent of all auto production by 2030. It comes with policies to support each aspect, including setting a target to instal public EV charging stations all over the country,” Somphote said.

Currently, EA Anywhere has around 430 charging stations and 1,800 outlets available from AV chargers to DC Ultra-Fast Charge that takes only 15 to 20 minutes. Moreover, there is an application “EA Anywhere” that will facilitate users with an online system for reservation, payment, and charging at the same time. The application has been downloaded 33,000 times. EA Anywhere is seen as a pioneer and the leader in the charging service business, which is in line with EA’s strategy to become the complete leader in EV.

JRW’s chief executive officer, Jarun Wiwatjesadawut, said that JR is responsible for designing, finding, and installing the electricity transfer system and network in this project. JR is also designing and developing the energy conservation system with EMN by finding places to instal charging stations of the appropriate size, number, and places for the project to support EV usage in Thailand.

As JR is a leader in ICT and electric system installation in Thailand, it has a team with expertise and experience of more than 28 years in installing telecommunication and information technology systems which are critical to make this project successful.

Published : April 07, 2022

Digital assets can penetrate unbanked communities in a big way

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While digital assets hold huge potential to rival traditional capital markets, there is also a need for clear guidelines to ensure the least degree of risks, an online forum: “Digital Assets: The Financial World’s New Paradigm Shift” organised by The Nation and Asia News Network heard last week.

Digital assets can penetrate unbanked communities in a big way

Zipmex co-founder and CEO Marcus Lim, PDAX founder, and CEO Nichel Gaba, and Fusang CEO Henry Chong shared their views on the growing digital assets trends, especially in the context of Asean.

Marcus Lim, the CEO, and co-founder of Zipmex, Singapore and a speaker at the forum, said: “The world needs to pay attention because people that are adopting digital assets are mostly the millennial generation and as they say, the genie’s out of the bag, there’s no way to pull this back in. All regulators have to pay attention, and almost everyone is adopting it. So the key is how to make regulators and policymakers think about ensuring that they still have a governing system that is in line with their local currency and how do they deal with cryptocurrency, which could be in conflict with the national currency.”

“The second is around the applications of blockchain. For the past six months, we’ve moved towards the NFT market space and very quickly into the metaverse space. We’re seeing big companies like Facebook rebranding themselves into Metaverse. And with the pandemic and lockdown, we’ve seen a lot of people not contacting each other in the physical world and moving into the virtual world. So can we create a virtual world where everyone can co-exist?”

Another trend to keep a close eye on for a year or two is payments. “Southeast Asia has a huge population that’s unbanked, like in Indonesia where 60 percent of the entire population has no bank accounts. Thailand has a slightly smaller proportion but slightly larger when compared to the Western world. And if we look at the way digital assets operate, effectively you can send value to anyone seamlessly and almost at no cost. So if you look at the traditional world where banks have to provide infrastructure to the mass population in order for them to be banked, that’s the whole nature of digital access. It can cut through and make everything more efficient and cost-effective. And I think the short-term trend I’d like to see is how we start to include Southeast Asia and not through just the traditional trade … but rather how crypto exchanges on all platforms play a part in inclusion.”

“The biggest thing that is holding us back is regulations. There’s a regulatory framework in place.”

Henry Chong, CEO of Fusang, Malaysia, Hong Kong, shared his views on the importance of security as one of the up-and-coming trends.

“The world of cryptocurrency and NFT is unbelievably exciting but 99 percent of assets, such as shares, funds, bonds, real estate, everything we see around us today, I think all these assets can, will, and should be tokenised as well. I think it is inevitable and I can’t imagine in the years to come that we will have these pieces of paper that represent all the assets that we own. I’m convinced that blockchain technology makes a lot of sense and we’re going to see traditional assets be tokenised and traded very similar to how cryptocurrencies are today. But the big difference is it becomes very important to be clear when you have a security token, what is the underlying asset? If the token represents shareholding in a company, what are the rights that I get, and what are the actual assets that I own. I think people can and will start looking at it through different lenses and what are the fundamental value drivers of securities like that.”

Nichel Gaba, the founder and CEO of PDAX, Philippines, said he had seen a new trend in the Philippines. While many people had lost their main income due to the pandemic, many had earned money through gaming that allowed them to earn tokens. Another popular trend he had witnessed was Cross-Border Remittances.

“Migrant workers are sending money into the country in a third currency, other than the peso, The use of Cross Border Remittances also grew in popularity and volume”

“In terms of investment, the Philippines equity market has been struggling to expand so many corporates and institutions are asking whether it would make more sense to raise capital via the token market.”

Nichel said cryptocurrency trading in the Philippines is around $3 million and $3.5 million, thanks to a strong cryptocurrency-friendly and savvy base.

When asked what advice he would give the younger generation interested in joining the digital world of crypto and NFTs, Gaba said: “Having been in the market throughout my career, I know how fast the weather can change. New investors should focus on developing real business skills,” he said.

“The genie is out of the bottle. It is a magic that is evolving very quickly,” he said.

Published : April 06, 2022


Thailand’s economy at a turning point, financial experts warn

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Thailand has fallen behind Asian rivals in its bid to escape the middle-income trap, according to an expert panel debating economic revival after Covid-19.

Thailand’s economy at a turning point, financial experts warn

To break free from the trap, the Kingdom must accelerate GDP growth and sustainable development across all of society amid global political conflict, digital transformation and energy industry revolution, said Banyong Pongpanich, chairman of Kiatnakin Phatra Financial Group (KKP).

Banyong was speaking during Saturday’s virtual seminar “This is the end of the line: How to rebuild Thailand economy”, organised by KKP and The Standard.

He noted that Thailand’s GDP growth rate was slower than Asian countries with a similar beginning point, such as China and Singapore.

Meanwhile high-earners enjoyed on average eight times greater income than low-earners, proving the difference in access to education and resource across Thai society, he added.

“Thailand has strong economic fundamentals, but transitions in technology, politics and the environment will impact the country’s sustainability,” Banyong warned.

“Hence, troubleshooting in development sectors that have not reached their goals is the beginning of the solution.”

Thailand’s economy at a turning point, financial experts warn

Thiraphong Wachiraphong, Kiatnakin Phatra Securities director of research, said Thailand’s economy was at a turning point as its economic growth and market share declines.

He added that global political conflict, the energy shortage and digital disruption meant Thailand could no longer depend on external factors to boost the country’s economy.

Thailand’s economy at a turning point, financial experts warn

“Hence, relying on foreign direct investment (FDI) and tourists is not enough. Thailand must forge innovation fundamentals based on good education and corruption suppression,” he said.

Published : April 03, 2022


The genie is out of the bottle: digital assets will thrive in the digital age

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Players in the market as well as knowledgeable experts asked society, the authorities and corporates to be prepared for the rapid growth of digital assets in the digital age.

They were speaking at a virtual forum “Digital Assets: The New Paradigm Shift of the Financial World” organised via Zoom by The Nation and Asia News Network on Wednesday.

Digital Assets are increasingly gaining in popularity and growing at a tremendous pace. Millennials are showing a preference for digital assets over the traditional financial markets.

According to a report by Verified Market Research, the global digital asset management market size is projected to reach nearly US$14 billion by 2028.

Despite the increasing global interest, digital assets face high risks, such as volatile investments, unstable prices, safety issues and international conflicts.

The genie is out of the bottle: digital assets will thrive in the digital age

Financial innovation

Speaking at the event, the president of the Stock Exchange of Thailand (SET), Dr Pakorn Peetathawatchai, said the exchange wanted the traditional and digital asset markets to coexist. The SET is launching the Thailand Digital Exchange (TDX), an open platform to link traditional and digital asset markets, in the third quarter of this year.

He said the digital asset market is growing and becoming a part of the global market even though the market capitalisation of the digital asset market, as of March 11, was only $1.79 trillion compared to $123 trillion in the stock market.

He explained that there are currently three main digital assets:

Investment token, which gives the holder the right to invest in any project or underlying asset.

Utility token, which gives the holder the right to acquire goods, services and any other specific right.

Cryptocurrency, which is a digital virtual currency secured by cryptography.

He believes that traditional and digital asset markets can coexist even though there are many differences between the two markets, such as market types, regulations, investor base and involved businesses.

“When compared piece by piece, there are a lot of similarities, but the players will be different,” he said. As an example, he said that fundraisers in the capital market usually seek advice from brokerage firms, while those in the digital assets market seek advice from token issuers.

He expected business and investment opportunities in both traditional and digital asset markets to be more open to all people in the coming years.

Pakorn revealed that TDX will focus on investment and utility tokens, adding that it will serve as an application programming interface platform and portal for collaborators.

“Investors will be able to use the platform to access investment either locally, globally, traditionally or digitally,” he added. “We will not touch cryptocurrency,” he said. 

Digital assets and financial mainstream

Digital assets are growing fast in many countries worldwide, especially among Generation Z and millennials, said Zipmex CEO and co-founder Marcus Lim, PDAX founder and CEO Nichel Gaba, and Fusang CEO Henry Chong.

Henry said the security token market globally is moving at an incredible speed, adding that banks or countries are looking to use tokenisation technology to represent traditional assets, such as shares, bonds and funds.

He estimated that a quarter of all publicly listed securities around the world would be tokenised by 2030.

“We can really live with a vision of all assets being digitised,” he said.

Marcus said Zipmex digital asset platform has grown fast in the Asia Pacific in March this year with more than 1.9 million registered users, a total cumulative trading volume of more than $7 billion and a presence in four countries, namely Thailand, Indonesia, Singapore and Australia.

Nichel said the growth of cryptocurrency in the Phillippines is around $3 million and $3.5 million, thanks to a strong cryptocurrency-friendly and savvy base.

“Having been in the market throughout my career, I know how fast the weather can change. New investors should focus on developing real skills,” he said.

“The genie is out of the bottle. It is a magic that is evolving very quickly,” he said.

Safe and sensible regulation

Finding the right balance and looking at different angles are keys to regulating digital assets, Bitkub Capital Group Holdings founder and Group CEO Jirayut Srupsrisopa said.

He said at the same time regulations have to adapt quickly, too, because of the speed of innovation.

“Too much regulation would strangle innovation and it could move elsewhere, but too little regulation also raises risks of scams,” he said.

He emphasised that it was important for regulated players and regulators to work together to find the right balance and make sure that trade activities are on the ground, otherwise it will be harder to control.

“We should bridge the communication gap and the mindset to benefit the country, allow the technology to foster and protect investors,” he said,

“Meanwhile, we have to make sure that illicit activities are not happening on the platform, especially overseas.”

He added that a strong digital infrastructure is necessary as cryptocurrencies and blockchain would be the new key to growth of Thailand’s economy in the future. He said Thailand had missed the Web 1.0 and 2.0 bus, and it could not afford to miss 3.0.

He said Thailand’s growth in the past had depended on the country becoming an auto manufacturing hub and a major tourist centre. Thailand should strive to become the digital hub in the future, he said.

Blockchain Association co-chairman Chia Hock Lai said regulations should look at risks, but it should not ruin innovation.

He explained that in Singapore, cryptocurrency trading as of now accounts for less than 2 per cent of overall trading.

He said there was a case to be made for the industry regulating itself. “Let them come up with their own code of practice. That might be a better way to manage risks and eventually achieve consumer protection,” he said.

The genie is out of the bottle: digital assets will thrive in the digital age

Former finance minister and Thai Fintech Association chairman Korn Chatikavanij expressed concern with the overzealous regulation in Thailand, as a result people trade digital assets elsewhere.

“Regulators should tread carefully in terms of trying to impose their will on an industry that they cannot fully control. Attempting to do so may push the industry offshore or underground,” he said.

He said it would be better to monitor the cryptocurrency growth and benefit the country for two to three years.

He added that the government should not have rushed to impose capital gains tax on cryptocurrency trading, after just a couple of years, when the equity market has not been taxed for decades.

Securities Exchange Commission Assistant Secretary-General (Legal) Thawatchai Pittayasophon said the agency is open to hearing comments from others and studying international laws, so it can adapt the regulations to the Thai context.

“Being a regulator is not easy as there are conflicting demands with many stakeholders, and it is challenging to strike the right balance,” he said.

Digital assets ecosystem

Cryptomind CEO and co-founder Sanjay Popli expected a lot of security firms to explore asset tokenisation models.

“Digital currencies, securities and commodities, such as gold, silver or copper, will converge and as a whole they will hold a lot of potential,” he said.

He explained that the digital asset industry was not just about speculation and investment, but also about fans, artists and gamers who can monetise their assets.

“We are going to move to the next frontier of the digital asset era, so global companies should take it seriously now,” he added.
Sanjay wants global players to be allowed into Thailand, because it will help local talent too.

He believes that the crypto industry will explore new models that we cannot imagine now. He said a lot of corporates missed the bus from Web 1.0 to 2.0. They don’t want to miss 3.0. “But you can’t carry 2.0 mindset to 3.0,” he cautions

Token X CEO Jittinun Chatsiharach said digital assets can benefit anyone, as these assets are playing an important role in the digital economy.

Tokocrypto chief strategy officer Lai Chung Ying said unbanked people will benefit the most from digital assets due to the low entry barrier. These are people who previously did not have access to banks because of geographical location or other reasons.

“This group can actually get access to work on crypto financial space where minimum capital is not a requirement,” he said.

Lai says there has been a 100-fold growth in Indonesia in digital assets with over 2 million accounts. He said NFT projects are taking off in Indonesia because of a lot of creativity. He predicts that the future will see hybrid use of tokens.

He said traditional companies will have to catch up with the ecosystem and for that they have to be more flexible.  He rejected some of the worries about cryptocurrencies, saying they were more transparent than traditional transactions.

Published : April 01, 2022


Building a sustainable digital business

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Huawei definitely plays a leading role in this area, not only in products and solutions, but in fundamental theory research and industrial design as well.

Building a sustainable digital business

Asia-Pacific is ripe with opportunities for digital transformation, and the pandemic has accelerated this change. As 5G rolls out at scale, connectivity, cloud, AI, computing, and industry applications have all come together to create unprecedented opportunities for the ICT sector.
According to the Asian Economic Integration Report 2021, Asia Pacific will reap an economic dividend of more than $1.7 trillion per year or more than $8.6 trillion through 2025. The increased use of digital technologies will result in about 65 million new jobs created every year in the region until 2025.
With stable human, financial and business fundamentals, the highest net profit in history, and our continued efforts to globalise under pressure and increase R&D investment, Huawei’s unwavering business strategy, focused on connectivity and computing and rapidly developing new businesses including digital power and cloud, is perfectly aligned to drive the digital economy in Asia Pacific.

Leveraging key digital trends
As we shift gears from Covid-19 being a great disruptor to focusing on new opportunities from the acceleration towards digital transformation, I’m re-energised with the possibilities of our digital future. In 2022, our Huawei vision and mission continues, that is to bring digital empowerment to every person, home and organisation for a fully connected, intelligent world. This year, with the Mobile World Congress 2022 now behind us, brings the perfect opportunity to re-emphasise this vision and extend it to our view for the future world of 2030.
Looking at the future world in 2030, its characteristics and how it will impact every aspect of life, industry, society and economy, Huawei is predicting various indicators across four broad areas – Digital Life, Digital Industries, Digital Infrastructure and Digital Carriers.
For Digital Life, new XR and enhanced multimedia experiences will scale to 1 billion users and offer immersive solutions that will redefine everything from museum visits to shopping. Combining the data required for this with Digital Industry will mean the amount of data generated worldwide each year will likely exceed one trillion gigabytes and cloud services will account for more than 87 per cent of enterprise application spending.

Simon Lin, president of Huawei Asia PacificSimon Lin, president of Huawei Asia Pacific

Digital Infrastructure will improve energy conservation and emission reduction with renewable energy accounting for 42 per cent of the industry’s electricity generation. ICT technologies, while consuming only 2 per cent of global energy, will help reduce CO2 emissions by 20 per cent.
Underpinning all this will be Digital Carriers, supporting more than 200 billion connections and providing more computing and storage capabilities to industries.
The Intelligent World will redefine experiences, optimise operations, and ignite new business. Embracing business, technology and sustainability we hope to work together with customers, partners, governments, industry and consumers to enrich lives through this new digital future.

Driving innovation in digital infrastructure
Fundamentally, our future world will be based on three driving forces: business, technology and sustainability. First, business-driven forces will arise from the application of digital technologies in various industries to drive digitalisation and improve services.
Second, technology-driven forces will emerge from new connectivity including 5G Advanced, 6G and IPv6+ and computing technologies that are evolving to enable new applications.
Lastly, sustainability-driven forces including green development, social responsibility, and fast response to emergency situations will profoundly change people’s lives.
Connectivity and cloud are the lifeblood of the digital frontier; however, the digital readiness of the region varies greatly. Huawei’s Global Connectivity Index (GCI) shows that India, Indonesia and Philippines ranked 63, 58 and 59 respectively out of all countries, while Singapore ranked No 2. Philippines and Indonesia are the lowest in fixed broadband speeds compared to Singapore, and Thailand at the front. More broadly, cloud penetration in the region is less than 20 per cent, 4G mobile coverage is slightly above half, and FBB reaches barely one-third of households.
Under our Tech4All initiative, for example, Huawei’s RuralStar programme, with the aim to provide internet and connectivity for underdeveloped regions since 2017, has successfully cooperated with 12 operators in eight countries, including Thailand and Indonesia, in its first year.
In the remote mountains of Chiang Mai, Thailand, for example, Huawei’s AirPON solution reuses existing poles and fibre resources, creating an “air network equipment room” that has provided connectivity to more than 10,000 villages.
As part of its efforts to create a greener and more sustainable digital world, Huawei will increase its investment in sustainable green solutions, leveraging clean power generation, electric transportation, and smart energy storage, to support the Asia Pacific region’s goals of cutting carbon emissions, promoting renewable energy, and contributing to a circular economy.

Lighting up Asia Pacific
As one of the most populous and diverse regions in the world, Asia Pacific’s fast-growing economies are at the forefront of the global digital landscape. We are seeing huge opportunities for digital economy growth and digital transformation in the region, while many countries in the region have also issued national digitalisation strategies.
For example, Singapore released its Smart Nation 2025 blueprint. Indonesia and Malaysia released strategies to go digital, Bangladesh has released a strategy called Digital Bangladesh, and Thailand announced its vision to become a digital hub in Asean.
In this great journey, we are committed to supporting the region’s digital vision as a key contributor. Towards this goal, we will focus on three key areas: Connectivity and Intelligence, Low-Carbon Development, and Digital Inclusion initiatives.
Digital Connectivity, including 4G, 5G, fibre and IoT is fundamental to the success of the digital economy and has been further accelerated by Covid-19 with the demand from digital subscribers and for digital services growing significantly. Huawei definitely plays a leading role in this area, not only in products and solutions, but in fundamental theory research and industrial design as well.
Cloud Computing and Intelligence is the cloud infrastructure for an intelligent Asia Pacific, including data centres, cloud services and AI enablement to support data monetisation and promote industry digitalisation. According to Gartner’s latest report, HUAWEI CLOUD was the fastest growing cloud in the global IaaS market with a growth rate of more than 220 per cent. We are currently ranked 5th in global market share, and in Asia Pacific we operate seven Availability Zones in Thailand, Hong Kong and Singapore and have local service teams in over 10 countries.
Through heavy R&D investment, the carbon emission for our E2E products and services has been reduced by over 80 per cent while retaining the same capacity. Huawei combines digital and electronic technologies to develop innovative digital power services to use energy as efficiently as possible, and minimise the carbon footprint of ICT infrastructure, by leveraging clean power generation, electric transportation, and smart energy storage. By the end of 2021, Huawei had helped global customers reduce carbon emissions by 230 million tons. Meanwhile in Singapore, we supported Sunseap Group with industry-leading solar inverters to build one of the world’s largest offshore floating farms, contributing to the clean energy landscape in Asia Pacific.
Lastly, we will keep driving digital innovation for an inclusive Asia Pacific and leave no one behind. In our vision, a digital world is not just about technology, it is about people and humanity. Over the next three years Huawei will invest US$100 million to build the startup ecosystem in Asia Pacific, and over the next five years we will invest $50 million to develop 500,000 digital talents. In Malaysia, we launched our TECH4ALL initiative to help bridge the digital divide, and with our Huawei IdeaHub smart screen, we have connected students in remote areas to digital interactive learning centres.

Huawei’s outlook
Huawei’s Carrier business continues to benefit from 5G network infrastructure construction and remains robust, with 13 overseas countries having the best experience of Huawei’s 5G network in third-party tests. Overseas, along with our operators and partners, we promoted 3,000 5G applications, including many applications for industry commercialisation.
Our Enterprise business, established in 2011, has exceeded expectations and already includes more than half of the top Fortune Global 500 companies and more than 30,000 partners, helping transformation in various industries including education, government, finance, energy, transportation and more.
Cumulative shipments of smart wear devices now exceed 100 million worldwide, driving our Consumer business and we continue to expand our footprint with new devices that include premium smartphones and tablets, smart screens, audio, printers, laptops, desktops and more. Our Harmony operating system has surpassed 220 million users globally and Asia Pacific continues to lead with the rapid development of our consumer HMS ecosystem.
Our Cloud and Digital Energy businesses achieved double-digit growth in part due to a community of over 8 million Huawei Cloud developers and green sites deployed in more than 100 countries worldwide.
Certainly, the political climate has impacted Huawei’s ability to do business as we would like. But even in the face of adversity, we have achieved the highest net profit in history, hold sufficient net cash, and maintain a healthy financial position of the company.
Going forward Huawei will adapt to this new environment with an optimised organisational structure and continuously improve our operating capabilities and organisational efficiency. While maintaining the advantage of a large platform, we have shortened the management chain through the pilot operation of industrial subsidiaries that are able to respond more quickly to customer needs. Huawei has both the capabilities and confidence to continue serving our customers with innovative, business-aligned, sustainable solutions.
Huawei’s business strategy is clear, focusing on connectivity and computing, and developing new businesses that include digital energy and cloud. More importantly, we will support industry transformation by leveraging our more than 3,000 5GtoB projects to offer guidance and solutions for Smart Mining, Smart Manufacturing, and Smart Ports, helping operators launch 5GtoB services more successfully.
We are committed to driving innovation, attracting top and outstanding global talent, and supporting the continuous operation of hundreds of operators, millions of businesses and billions of consumers.
We continue to be guided by our commitment to innovation, openness, collaboration and shared success. Even under heavy pressure, we leverage our world-leading strong investment in R&D and drive the implementation of our globalisation strategy that includes standards, talent and supply chain. Through this, we maintain our ability to create value for customers, cooperate with partners for shared success, and contribute to society as a whole. Only by working together can we build the infrastructure, services and trust that will power us into the Intelligent World.

Published : March 25, 2022