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Makro launches campaign to help shrimp farmers

Dec 30. 2020Photos by Tatchadon Panyaphanitkul

By The Nation

Siam Makro is joining forces with the Commerce and Agriculture ministries to purchase 200 tonnes of shrimp in an effort to help farmers affected by the new wave of Covid-19 infections, as well assure consumers that cooked shrimp is safe for consumption.

People have been wary about consuming shrimp after a new cluster of infections broke out in Samut Sakhon’s central shrimp market recently.

“The new Covid-19 wave has severely impacted shrimp farmers across the country. The last week of the year is supposed to be their opportunity to rack up sales, but the loss of confidence and concern have left them devastated. Therefore, Makro, in association with the Commerce and Agriculture and Cooperatives ministries, has started purchasing shrimp directly from farmers to help move their products in time for the ‘new normal’ New Year celebrations,” said Siriporn Dechsingha, Siam Makro’s chief corporate communications officer.

“This collaboration is an urgent initiative that will be carried out continuously to help shrimp farmers affected by Covid-19. Apart from buying an additional 200 tonnes of shrimp per week directly from farmers and promotions nationwide, Makro has also been certified by the Department of Fisheries to have hygienic, Covid-19-free inspection and storage processes, further boosting public confidence.”

The promotions kicked off with a celebration at Makro Nakhon-In, which was attended by Commerce Minister Jurin Laksanawisit, Agriculture and Cooperatives Minister Chalermchai Sreeon, Department of Internal Trade director-general Wattanasak Sur-iam and Department of Fisheries director-general Mesak Pakdeekong.

The event featured booths selling cooked shrimp served up by members of shrimp farmer networks and the Thai Restaurant Association.

“In the ‘new normal’ festive season, when people will be celebrating by cooking at home, shrimp products from Thai farmers should see better reception, especially after government agencies and network members have joined hands to regain confidence in the safety of shrimp consumption. We are not just looking at short-term solutions but are also aiming for development towards sustainability, in line with our mission to stand by Thai farmers and become the leader of fresh food safety,” Siriporn said.

The shrimp is divided into three sizes, with the smallest going at Bt189 per kilo, medium at Bt199 per kg and large at Bt239 per kg. The promotion will continue until January 31.

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Blockchain could be game-changer for Thai farmers: ministry

Dec 29. 2020

By THE NATION

Thailand’s traditional farmers can break the cycle of low income and debt by harnessing the power of digital technology and big data, according to an official at the Ministry of Agriculture and Agricultural Cooperatives.

Prinn Panitchpakdi, the ministry’s president of agribusiness, recently told a Bangkok seminar that traditional agricultural practices could be upgraded with technology that links them with the market.

Prinn explained that traditional farmers produce products before finding markets to distribute them, so they always face financial problems of low income and debt.

However, new technology now gives farmers the power to collect data on market conditions, meaning they can adjust their crops to meet demand.

Prinn gave the example of blockchain technology in the government’s new TraceThai.com platform, which is used to trace the supply chain of agricultural products sold to the market.

The blockchain system of recording information makes it practically impossible to change, hack or cheat, he added.

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GSB to launch digital savings bond with lucky draws of Bt1 million each

Dec 28. 2020

By THE NATION

The Government Savings Bank (GSB) is set to give Thai people a “New Year gift” in the form of a digital savings bond to be sold via the MyMo application from January 11 until March 16, or until the total deposit reaches Bt20 billion, GSB president Withai Ratanakorn said.

“A lucky draw will be held on February 16 and March 16, with 10 random winners chosen at each event who will be given a Bt1 million cash prize each,” he said. “Anyone above the age of 15 can buy the bond at Bt20 per unit. Minimum investment is Bt200 with the maximum capped at Bt10 million per person.”

Withai added that lucky draws for digital bonds will be a separate event from the monthly draw, which is held on the 16th of every month for buyers of GSB bonds. The first prize in this draw is Bt3 million, and also includes prizes for up to five people as well as awards based on account numbers.

All draws will be broadcast live on Facebook @LiveNBT2HD.

“We hope the digital bonds will help promote savings and encourage people to spend money wisely,” he said.

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Indorama Ventures listed in sustainability index for 6th year running

Dec 28. 2020Sasinotai Rochanutama, right, manager of sustainability at Indorama Ventures Plc, receives the award from Pakorn Peetathawatchai, president of the Stock Exchange of Thailand.

By The Nation

Indorama Ventures (IVL), a leading global chemical producer, received a plaque from the Stock Exchange of Thailand (SET) to mark its sixth consecutive year (2015-2020) in the Thailand Sustainability Investment (THSI) 2020 index for the Industrial sector.

IVL was honoured as a listed company with a market capitalisation of more than Bt100 billion for achieving outstanding performance in Environmental, Social and Governance (ESG) practices. The award also reflects transparent disclosure of social and environmental policies and performance to stakeholders so that investors can make decisions based on responsible investment.

IVL is a global business committed to developing technologies and processes that use post-consumer PET and polyester waste materials as feedstock. As the largest producer of 100 per cent recyclable PET in the world, IVL said it intends to ensure all aspects of the circular economy come to fruition, reducing waste in the environment. The company is listed in the Dow Jones Sustainability Index.

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CP Foods set to launch five series of debentures to finance expansion

Dec 25. 2020

By The Nation

Charoen Pokphand Foods (CP Foods) is getting ready to issue and offer five series of debentures with tenors of two to 12 years to retail and institutional investors as well as high-net worth investors.

The debentures have been assigned an A+ by TRIS ratings and the subscription period is expected to be held throughout January. There are seven financial institutions overseeing the issue, namely

Krungthai Bank, Kasikornbank, Siam Commercial Bank, Government Savings Bank, CIMB Thai Bank, TMB Bank and Kiatnakin Phatra Securities.

Paisan Chirakitcharern, chief financial officer, said CP Foods plans to issue debentures to refinance its existing debts maturing in 2021 and for funding future business expansions.

Retail investors will be offered four series of debentures: a 5-year tenor at a coupon rate of 2.99 per cent per annum, a 7-year tenor with a coupon rate of 3.15 per cent per annum, the 10-year tenor with a coupon rate of 3.60 per cent per annum and a 12-year tenor with a coupon rate of 3.80 per year. Meanwhile, the 2-year tenor will only be offered to institutional investors and/or high-net worth investors.

The final coupon rate of the 2-year tenor debentures will be determined and announced at a later stage, with interest being paid for debentures every six months.

Retail investors and high-net worth investors interested in the debentures can subscribe for a minimum Bt100,000 in multiples of Bt100,000.

More details are available at www.sec.or.th or via the joint lead arrangers.

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Thai developer signs MoU for building two industrial estates in Vietnam

Dec 25. 2020David Nardone, group executive industrial and international as well as vice-chairman of WHA Corporation

By The Nation

WHA Industrial Development, a leading developer of industrial estates in Thailand and Vietnam, has signed a memorandum of understanding (MoU) with Thanh Hoa provincial authorities to develop to industrial zones in the province.

The first project, called the WHA Smart Technology Industrial Zone – Thanh Hoa, will cover approximately 600 hectares and an additional 30 to 50 hectares devoted to homes.

The second project, WHA Northern Industrial Zone – Thanh Hoa, will cover a gross area of about 540 hectares and will target downstream industries such as plastics, rubber, chemical and bio-chemical products, metal fabrication and foundries to name a few.

Both parties will immediately commence the necessary process for obtaining licences and approvals, with construction expected to commence in 2023 and 2022, respectively.

With a population of 3.6 million people, including a labour force of 2.3 million, Thanh Hoa, located in the north central region, is Vietnam’s third largest province. Its proximity with the capital Hanoi and the city of Haiphong is beneficial in terms of connectivity, logistics, infrastructure and access to the Hanoi International Airport and Lach Huyen Deep Sea Port.

David Nardone, group executive industrial and international as well as vice-chairman of WHA Corporation, said: “This WHA Thanh Hoa PPC MoU will reinforce our presence and growth strategy in Vietnam. The two WHA projects present location advantages to target specific market opportunities.”

The first project, 12km from the province’s main city and with its educated workforce, will capture demand from high-value technology companies.

The second project, located near the well-established Nghi Son petrochemical complex, will further enable the integration of petrochemical and metal supply chains, he said.

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Huawei signs pact with Walailak University to develop ICT professionals in southern Thailand

Dec 24. 2020

By THE NATION

Huawei Technologies (Thailand) signed a memorandum of understanding with Walailak University (WU) in Nakhon Si Thammarat province to better equip students with next-generation technologies and prepare them for the job market, the companies said in a press statement on Wednesday.

As part of the Huawei ICT Academy programme, the partnership aims to introduce advanced IT knowledge through practical courses and on-the-job training.

The MoU was finalised at Walailak University by WU president Prof Dr Sombat Thamrongthanyawong and Huawei Technologies (Thailand) CEO Abel Deng.

Under the initial partnership, Huawei will provide the university with knowledge and training resources on advanced network technology.

“WU students will be accorded learning opportunities in authentic work situations that will give them real-world awareness, skills and flexibility, using tools and resources from the Huawei ICT Academy programme. To prepare them for the digital workforce, qualifying students will be given the chance to participate in the Huawei ICT Competition and Huawei ICT Job Fair, two of Huawei’s flagship ICT skills promotion initiatives. The company’s long-standing commitment to form a better-informed generation of talent will be the basis of this collaboration,” the statement said.

The MOU signing ceremony was followed by the endowment of Huawei Enterprise Routers, Ethernet Switches and Huawei IdeaHub, and a smart whiteboard for collaborative learning, to Prof Dr Sombat.

This ICT equipment will be instrumental in supporting the training and nurturing the most deserving ICT students, the statement said.

“Huawei gives tremendous importance to this collaboration with Walailak University, and it is our pleasure and honour to work with the academic community of Thailand’s southern region,” said Deng.

“We are determined to work more closely with universities across the country to better equip students with the next generation of technologies. We have created the Huawei Asean Academy (Thailand) as an educational platform to demonstrate to the youth that they are capable of becoming outstanding ICT talent in a world-class workforce,” he added.

“We are very excited about this MOU that combines theoretical and practical training, because of its potential to inspire more students who can help transform the country’s IT landscape,” said Prof Dr Sombat. “I would like to express my gratitude to Huawei for helping us provide our students with learning solutions to promote digital development. We are confident that this initiative will go a long way to build a stronger and more skilled ICT workforce for the country.”

Huawei, in cooperation with Huawei ICT Academy, looks forward to building more win-win partnerships with Thailand’s academic community, developing an environment of progress, innovation and value for the youth, and identifying and forming future leaders, as the country moves towards Thailand 4.0, the statement added.

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Bank gives small businesses lessons on surviving crises (nationthailand.com)

Bank gives small businesses lessons on surviving crises

Dec 23. 2020

By The Nation

The Thai Credit Retail Bank (TCRB), which serves the micro business segment, is teaching small business owners how they can turn the Covid-19 crisis into an opportunity through its fourth “Smart Micro Customers: Hardworking, Saving with Discipline” programme.

Some 30,000 vendors have taken part in this intensive training scheme, in which they learned essential skills like financial planning, powerful sales techniques and cashless payments.

Roy Agustinus Gunara

Roy Agustinus Gunara, TCRB’s managing director, said that by providing knowledge and boosting business opportunities, this programme can be effective in helping vendors boost their income during this crisis.

A survey of 45,075 vendors nationwide revealed that 70.3 per cent were suffering from a slump in sales, while 83.6 per cent had no access to online channels.

The spread of Covid-19 has made household debts soar by 83.8 per cent, the highest in 18 years, while only 48.6 per cent of Thais have been found to have financial knowledge. The survey also found that 33.33 per cent of Thais have few savings.

Considering that small businesses form the foundation of the Thai economy and are TCRB’s major customers, the 4th Smart Micro Customers scheme is designed to help them survive the crisis.

In it, participants are given lessons on financial planning, techniques to reach and attract customers via online channels and social media, payment methods via QR Code as well as the use of e-Wallet application, among others.

The latest programme has won a strong response, attracting some 30,000 vendors from all regions. As a result, 95 per cent of the participants have been able to pay off their debts and boost their financial credibility, while 53 per cent have realised that they need to change their behaviour to boost financial discipline in debt repayment to achieve good credibility.

Narumol Chan-aum, a coffee vendor in Rayong province, said: “I learned that payment via QR Code helps prevent infections and reduces mistakes. This form of payment has played a greater role during the Covid-19 outbreak as customers wanted to avoid touching bank notes or coins, so we had to change. QR Code payments have helped boost sales because of greater convenience and cuts the problem of giving the wrong change or handling counterfeit money.”

Phutniphan Rampoeypol, the owner of a car-care service in Bueng Kan province, said she learned that meeting customers’ needs was key to service, so she has introduced free pick-up and delivery, which has boosted her revenue by 30 to 40 per cent.

Chalanthorn Khamdaeng, the owner of a grocery and coffee shop in Chiang Mai, said the training has helped her learn how Line groups can be used to generate more revenue and profits. She created a Line group and added the accounts of her clients. In the group she began promoting consumer products and got a good response, especially at the height of the outbreak. She also provided free delivery service, encouraging customers to come back for more.

Narumol Kosolset, a shoe vendor in Bangkok, said the programme focused on income-and-expense accounts to promote savings, in that vendors can save money if they enter items in the account sheet carefully. This way, she said, vendors can see cash flow every day without waiting for the end of the month.

“The bank has placed greater importance on providing financial and sales knowledge to help small and micro business owners prepare for crises. The next programme will be available both online and offline, and will come packed with insightful information that responds to the current situation and meets international standards. This revised programme will be certified by leading educational institutes, making the participants proud of what they have learned,” Gunara concluded.

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GSB commits to socially responsible banking (nationthailand.com)

GSB commits to socially responsible banking

Dec 22. 2020

By The Nation

The Government Savings Bank (GSB) has joined the United Nations Environment Programme Finance Initiative and signed Principles for Responsible Banking as part of its commitment to become a social bank.

GSB is the first Thai state financial institution to recognise the principles for responsible banking.

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CP Foods guarantees ‘Covid-free prawns’ despite virus surge (nationthailand.com)

CP Foods guarantees ‘Covid-free prawns’ despite virus surge

Dec 21. 2020

By The Nation

Charoen Pokphand Foods PCL (CP Foods) has reassured consumers that its prawn are contaminant-free from farm to table, while its production remains undisrupted by an outbreak of Covid-19 at a prawn market in Samut Sakhon.

The company said it imposed stringent biosecurity measures throughout its operation to keep both its employees and consumers safe from the outbreak.

This included strict hygiene measures for staff inside and outside their workplaces, said Pairoj Apiruknusit, executive vice president at CP Foods.

“Since Samut Sakhon province announced its lockdown, all CP Foods workers have been asked to stay inside to reduce the risk of infection. Our measures aim to ensure that consumers receive safe food from a traceable source,” he said.

All CP Food migrant workers are employed in Thailand under an MoU between the Thai government and the government on their country of origin, he added. Under the MoU, all are legally recruited by agencies authorised by their government and in line with Thai labour standards.

Pairoj said CP Foods also educates its prawn farmers on Covid-19 prevention. Meanwhile, prawns are transported directly from farm to consumers in an effort to minimise human contact.

“We guarantee fresh, hygienic and contaminant-free foods to all our consumers,” he said.