Summit Capital gunning for 10% share of bike hire-purchase business
Oct 28. 2020
By The Nation
Summit Capital is revving for a larger slice of the motorcycle hire-purchase market next year, after outpacing the Covid-19 downturn with an impressive performance in the first nine months of 2020.
Its business grew 3.85 per cent from the same period in 2019 with 274,817 motorbike hire-purchase contracts.
The company is now targeting a 10 per cent share of the market next year, after seeing it rise from 7.3 per cent in 2019 to 8.8 per cent this year.
Summit Capital also aims to add three to six more outlets next year to the 37 branches it currently operates nationwide.
Inclusive collaboration necessary to achieve UN SDGs by 2030, CP’s sustainability officer tells WEF forum
Oct 27. 2020
By THE NATION
At the online discussion on “New Development Agenda: Leapfrogging Out of the Pandemic Economy”, Noppadol Dej-Udom, Charoen Pokphand Group’s chief sustainability officer, presented CP’s measures to tackle the pandemic and insights into its post-crisis development strategy.
The panel was organised by the World Economic Forum as part of Jobs Reset Summit 2020.
The panellists discussed the challenges countries ahead in achieving sustainable development goals (SDGs) by 2030 and the need to “leapfrog” out of the present economic crisis caused by the Covid-19 pandemic.
Noppadol shared CP Group’s strategy of working closely with the government and civil society sectors to mitigate the impact of the crisis in line with its “3-benefit principle”, which includes consideration of benefits to the nation, communities and finally business returns.
For instance, he said, CP decided not to lay off any employees during the Covid-19 crisis and instead created an additional 28,000 positions in various subsidiaries in Thailand.
CP supplied food to people under quarantine and medical staff, and also built a factory to supply surgical masks to healthcare workers.
“The United Nations estimates that we need to invest about US$3.3 trillion to $4.5 trillion per year to achieve the SDGs by 2030. To handle such a large investment, I think it is vital for all sectors to come together to share resources as well as share the risks,” Noppadol said.
“Businesses need to evolve with the growing complexity of development challenges. In the past, development work implemented by the private sector alone, or in public-private partnership arrangement, often looked at individual projects and initiatives to address particular needs. These focused projects will still be needed, but the new realities also require a more comprehensive approach, such as development of an ecosystem or enabling mechanisms.”
MG Entertainment to export South Korean face mask to 14 countries
Oct 26. 2020
By THE NATION
MG Entertainment Asia will export a South Korean-made face mask to 14 countries, including Asean, expecting sales of Bt20 billion within a year.
The operator of an entertainment business in Thailand and in the Asean region said the pandemic had made the company realise the importance of taking care of people’s health. “We put our best efforts in finding a product that would meet the need of people of all ages and genders,” Krongkwan Lertjaruanun, chief executive officer of MG Entertainment Asia, said.
The hygienic face mask, known as “Breath Silver”, has been introduced worldwide as a healthcare product, manufactured using advanced technology, Krongkwan said.
Breath Silver face masks are sold in Thailand and other Asean countries, and also in China, Japan, the United Arab Emirates, the United States and Russia.
This face mask is another option to protect you from germs, bacteria, and protect your respiratory system, Krongkwan said.
“Our company decided to import a hygienic face mask from South Korea under the name ‘Breath Silver’, with official authorisation as the sole importer and distributor of the hygienic face mask in Thailand and 14 other countries around the world. The company expects the product to generate Bt20 billion in revenue within one year.
Huawei signs MoU with Department of Skill Development to boost Thailand’s digital workforce
Oct 23. 2020Deputy Labour Minister Narumon Pinyosinwat and Huawei Thailand’s CEO Abel Deng, seen in the back row, attend the pact signing ceremony at the Huawei headquarters in Bangkok on Thursday. The pact on enhancing Thailand’s digital workforce was signed by director-general of the Department of Skill Development Thawat Benchatikul, second right front row, and deputy managing director of Huawei Technologies (Thailand), Brian Liu, second left.
By The Nation
Huawei Technologies (Thailand) signed a memorandum of understanding with the Labour Ministry’s Department of Skill Development on Thursday to boost digital technology knowledge and skills among workers in Thailand.
For the next three years, the two parties will create and provide learning opportunities as well as hands-on training on skill development, including reskilling and upskilling, to ensure Thailand can match the needs of the labour market, reduce unemployment, raise incomes and improve the standard of living.
This MoU is in response to the country’s need for a healthy digital ecosystem and rising demand for highly skilled workers, especially with the arrival of new S-curve industries in line with the government’s Thailand 4.0 policy.
Huawei and the government agency aim to train and certify 120 ICT (information and communications technology) trainers and 3,000 skilled workers through courses that will be co-created by both parties. Once participants complete all requirements, they will be provided with official certification.
At the same event on Thursday, graduates of Huawei’s 5G network equipment installation course in a real-world environment, one of the key projects under the partnership, received their certificates after completing an 18-hour intensive course on October 19 to 21.
Aiming to train 300 skilled technicians over the course of three years, the program covered 4G and 5G networks and also included on-site training at base camps.
DTAC and PTT trial smart-city 5G use in Rayong valley
Oct 23. 2020
By The Nation
Mobile operator Total Access Communication (DTAC) has teamed up with national energy conglomerate PTT Plc to pilot 5G use on the 26GHz spectrum in Wangchan Valley, Rayong.
Under a “smart city” concept, the project will start with remotely operated video surveillance cameras, ensuring constant monitoring of physical distancing measures.
The project underscores PTT’s ambition for 5G networks to transform Wangchan Valley into a base for research, development and innovation in Thailand. DTAC’s involvement comes as part of a wider strategy to develop sustainable 5G use cases that can benefit Thai society.
5G-enabled smart video surveillance for PTT’s EECi
PTT’s collaboration with DTAC brings the first use case of 5G IoT (Internet of Things) services in the EECi (Eastern Economic Corridor of Innovation). The trial of surveillance cameras will be running on 5G networks on 26GHz spectrum as it enables high-resolution video feeds for analysis, situational awareness and improved decision-making from anywhere in the world.
This reinforces the new way of working in the new normal era and the role of IoT for the EECi and PTT, particularly when physical distancing is still a requirement. In addition, PTT will continue to explore 5G IoT services for smart parking with DTAC, as a path to developing smart city infrastructure in Thailand.
Sharad Mehrotra, chief executive officer at Total Access Communications Plc (DTAC), said: “Sustainable 5G development in Thailand requires three key factors: use-cases, a supportive device ecosystem and collaboration among all stakeholders. This will lead to 5G adoption across the nation.”
Prathet Tankuranun, chief technology officer, at DTAC, added, “The 26GHz spectrum band is viewed as a pioneer band for 5G B2B [business to business] services. It offers very large capacity and near-instant responsiveness, making it ideal for remote health, critical machine operations and high-density, high-definition video surveillance.”
Auttapol Rerkpiboon, president and chief executive oifficer at PTT Plc, said, “PTT, as developer of 3,500 rai in Wangchan Valley, wishes to make the area into the Eastern Economic Corridor of Innovation, or EECi. We are nurturing an R&D and innovation ecosystem to advance the country under the concept “Powering Thailand’s Transformation”, in a bid to raise competitiveness and keep up with digital disruption and raise life quality standards of Thais. Hence, PTT has joined forces with government agencies and private companies, which includes DTAC, to leverage the use of 5G technology in advancing businesses and innovation.”
Wittawat Svasti-xuto, chief technology and engineering officer at PTT Plc, added: “PTT’s 5GxUAV sandbox project has been launched earlier in EECi as a platform for 5G-enabled innovation trials. Currently, many use-cases including unmanned aerial vehicle have been tested by PTT and its allies. The move reinforces our commitment in co-building digital infrastructure and technology under 5GxUAV sandbox project.”
Millimetre wave (mmWave) 5G is superior to 4G in three aspects:
Speed: The ultra-HD cameras in use at the PTT site require upload speeds of up to 11Mbps, which is beyond what can be delivered consistently on 4G. By contrast, mmWave 5G can deliver real-world upload speeds between 40-100Mbps.
Capacity: In a future scenario where a site operates hundreds of ultra-HD cameras, a 4G network would quickly become overloaded. By contrast, mmWave 5G can provide three to four times more capacity thanks to wider and more efficient spectrum.
Reliability: 5G offers numerous security and reliability improvements over 4G, which is particularly important for video surveillance requiring uninterrupted uptime. For example, 5G also allows network slicing, so that PTT’s security IoT systems can run on a network distinct from that used for consumer devices.
Rajiv Bawa, chief business officer at DTAC, added: “Apart from the video surveillance cameras project, DTAC and PTT also have a pipeline for 5G use cases, including fixed wireless broadband and industry-related solutions. Communication technology is critical to Thai businesses ability to remain competitive in the new normal.”
To develop these 5G-use cases, DTAC said it was working with industry partners in the fields of smart energy solutions for electrical distribution boards, warehouse sensors, intelligent reporting, smart vehicle tracking and smart farming.
B Grimm Power Plc, Thailand’s leading industrial power producer, has bagged five Asian Excellence Awards 2020, with its chief Preeyanart Soontornwata being named “Asia’s Best CEO”.
The awards are bestowed by Corporate Governance Asia, a leading investment and governance magazine.
“The awards speak volumes about B Grimm’s commitment in conducting its business with economic, social and environmental responsibilities based on the principles of good corporate governance and under the vision of ‘Empowering the World Compassionately’ which sees the company doing business with compassion over the past 142 years,” Preeyanart said.
Along with “Asia’s Best CEO”, B Grimm could also boast Asia’s Best CFO (Nopadej Karnasuta) and Best Investor Relations Professional (Solaya na Songkhla). It also swept up awards for Best CSR in Asia and Best Investor Relations Company Asia.
The Asian Excellence Awards are based on corporate data in conjunction with a survey of investors, analysts and other experts across Asia.
Krungsri (Bank of Ayudhya) on Thursday announced net profits of Bt19.7 billion for the first nine months of 2020, a fall of 25.3 per cent or Bt6.6 billion from the same period last year.
The bank blamed the sharp drop on an unfavourable environment together with severance payments and the absence of extraordinary one-time gains from selling a 50 per cent stake in its micro-loans arm Ngern Tid Lor.
Krungsri also announced loan growth of 1.4 per cent or Bt25.7 for the first nine months of 2020. Non-performing loan ratio rose to 2.24 per cent, compared to 1.98 per cent in December 2019.
Meanwhile, deposits increased by 10.4 per cent or Bt162.3 billion.
The bank reported a coverage ratio of 160.6 per cent, compared to 163.8 per cent in December 2019.
It said the capital adequacy ratio remained strong at 17.13 per cent, compared to 16.56 per cent in December 2019.
GSB offers savings, loan promotions at Bangkok expo
Oct 21. 2020
By The Nation
#The Government Savings Bank brings a wide array of financial solutions to the Money Expo 2020 in Bangkok from October 22-25.
Highlights include a 107-Day Savings Deposit Account with interest rising to 10%, and a mortgage loan with 0% in the first year. For more details: https://www.gsb.or.th/promotions/money-expo-2020/
Tencent Cloud offers conference solutions for the ‘new normal’
Oct 21. 2020
By The Nation
Tencent Cloud, the cloud business of Tencent – a leading provider of value-added services on the net – continues to penetrate Thailand’s cloud market with the introduction of Tencent Cloud Conference (TCC), serving the needs of different organisations.
The TCC system supports virtual and hybrid conferences via the Tencent Cloud platform, with incorporated interactive elements that can be used to engage customers in different types of businesses.
Chang Foo, chief operating officer of Tencent (Thailand), said: “We are glad to introduce Tencent Cloud Conference, a high-performance online conference solution to meet the growing market demand including hosting business conferences, trade shows, seminars, forums and various types of meetings. This comprehensive solution can help manage virtual and hybrid conferences effectively, offering highlighted features to support a wide range of conferences from corporate to international levels. We aim to create opportunities for organisations to drive their business plans uninterruptedly to the highest potentials.”
IHG has big plans for Grand Sukhumvit Hotel in Bangkok
Oct 21. 2020
By The Nation
InterContinental Hotels Group (IHG) has signed an agreement with Sukhumvit Centre Point to take on the management of Grand Sukhumvit Hotel Bangkok from next year.
After extensive refurbishment, the 386-room hotel will be rebranded as Crowne Plaza Bangkok Grand Sukhumvit by the end of next year. More rooms will be added to the hotel by 2023, making it the country’s largest Crowne Plaza hotel and the brand’s flagship.
Serena Lim, IHG’s vice president for development in Southeast Asia and South Korea, said: “The strength and breadth of IHG’s brand portfolio has led to some exciting growth and conversion opportunities here in Thailand and across Southeast Asia and Korea. We are seeing an appetite from owners, including our partner Sukhumvit Centre Point, to join the IHG family and benefit from the power of our enterprise.”
Some 30 kilometres from Suvarnabhumi Airport, the hotel is located near Nana BTS Station, offering guests easy access to embassies and corporate offices, as well as nearby shopping, dining and entertainment venues.
IHG has 31 hotels in Thailand operating under the brands Six Senses, InterContinental, Crowne Plaza, Hotel Indigo, Holiday Inn, Holiday Inn Express, and Staybridge Suites, with another 29 in the pipeline.
Deputy Labour Minister Narumon Pinyosinwat and Huawei Thailand’s CEO Abel Deng, seen in the back row, attend the pact signing ceremony at the Huawei headquarters in Bangkok on Thursday. The pact on enhancing Thailand’s digital workforce was signed by director-general of the Department of Skill Development Thawat Benchatikul, second right front row, and deputy managing director of Huawei Technologies (Thailand), Brian Liu, second left. 
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