Adopting ‘circular economy’ will make Thai energy firms more sustainable: PwC #SootinClaimon.Com

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https://www.nationthailand.com/business/30404714

Adopting ‘circular economy’ will make Thai energy firms more sustainable: PwC

Biz insightsApr 10. 2021Amornrat PearmpoonvatanasukAmornrat Pearmpoonvatanasuk

By The Nation (sponsored news)

Thai energy firms should transition to a “circular economy” to address the adverse impact of non-renewable resources and join the global race to end emissions, audit company PwC Thailand said recently.

Companies should also start trading in carbon credits, which would generate millions of baht in income yearly, especially since the Covid-19 pandemic is cutting down carbon emissions and diminishing demand for fossil fuels.

Amornrat Pearmpoonvatanasuk, energy leader and assurance partner for PwC Thailand, said energy firms across the world, including those in Thailand, are facing mounting challenges when it comes to addressing climate change in the wake of Covid-19.

The pandemic has brought attention to the need to reduce greenhouse gas (GHG) emissions, resulting in a change in product demand, market characteristics and business models. A growing list of governments and corporations have committed to tackling climate change through achieving net-zero carbon dioxide (CO2) emissions by 2050.

“A global movement to achieve a net-zero future by replacing fossil fuels – the major contributors to global warming such as oil, natural gas and coal – with renewable energy sources will lead to shrinking demand of these markets. Business leaders will increasingly transition out of traditional business models to a circular economy prioritising renewables and low-carbon energy sources that have less impact on the environment.

“Against this backdrop, we expect more oil giants and other energy businesses to profoundly shift the way they do business to boost competitiveness and efficiency, including offsetting the risk from a fall of non-renewables demand globally,” Amornrat said.

Recently major economies such as China, the US, Japan and South Korea set targets to achieve net-zero emissions by 2050. The European Commission also unveiled the European Green Deal, a roadmap for Europe to become a climate-neutral continent by mid-century.

More than 400 leading organisations, including PwC, have signed the United Nations Global Impact’s “Business Ambition for 1.5°C” commitment to limit the rise in average global temperature to 1.5°C and reduce net-zero global emissions by 2050.

Circular economy in energy, utilities and resources industry

Growing concerns over climate change will likely accelerate a transition to a circular-economy model aimed at recycling renewables to ensure maximum benefits and release zero or the least-possible waste across all industries, Amonrat said.

This shift will transform business models by using integrated technology to add value to an organisation’s supply chain, from production systems and raw material management to applying renewable energy and resources principles to expand new markets such as producing green hydrogen from waste.

Companies in the energy sector have a crucial role in the development of a circular economy, according to PwC’s “Taking on Tomorrow: The Rise of Circularity in Energy, Utilities and Resources” report. There are six steps companies can take to build a more sustainable future, namely:

• Mapping out circular opportunities

• Being clear about strategy and vision

• Planning your circular transformation route

• Developing circular collaborations and frameworks

• Measuring, reviewing and communicating progress

• Making moves before competitors, customers and regulators do.

Thailand’s commitment to the Paris Agreement to reduce GHG emissions by 20 to 25 per cent by 2030 in the area of energy, transport, industrial processes and waste management has prompted Thai energy, utilities and resources companies to shift their business models towards clean energy to ensure their financial performance is sustainable, Amornrat said.

Such efforts also help win trust from clients, communities, investors and stakeholders who increasingly pay more attention to environmental, social and governance (ESG) reporting, she continued.

Another option for the sector to reduce GHG emissions is through trading carbon credits. This tool is increasingly becoming popular overseas, where regulatory allowances for emissions can be bought or sold, she said. A few Thai energy companies generated up to Bt10 million per year from selling carbon credits to other companies, Amornrat added.

Combining this approach with the transition toward renewable energy would add value to business operations and create new revenue streams.

“Energy businesses should revisit their business and cost structures in the aftermath of Covid-19.

“This includes rethinking how to make the most of available natural resources and using this crisis as an opportunity to do more socially responsible business in order to build long-term sustainability and competitiveness,” she said.

SET shrugs off Covid outbreak to gain 0.48% #SootinClaimon.Com

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https://www.nationthailand.com/business/30404722

SET shrugs off Covid outbreak to gain 0.48%

EconApr 09. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,566.34 on Friday, up 7.51 points or 0.48 per cent. The volume of total transactions was Bt82 billion with an index high of 1,572.13 and a low of 1,561.76.

In the morning session, Krungsri Securities forecast that day’s SET would fluctuate between 1,550 and 1,570 points despite falling US Treasury bond yield and expectations the US Federal Reserve would maintain a low interest rate after a jump in US jobless claims.

“Uncertainty over Thailand’s new wave of Covid-19 is expected to continue to pressure the index,” said Krungsri Securities.

The 10 stocks with the highest trade value today were SCC, BDMS, STGT, DELTA, PTT, BCH, SAWAD, COM7, OR and HANA.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 29,768.06, up 59.08 points or 0.20 per cent.

China’s Shang Hai SE Composite Index closed at 3,450.68, down 31.88 points or 0.92 per cent, while Shenzhen SE Component Index closed at 13,813.31, down 176.63 points or 1.26 per cent.

Hong Kong’s Hang Seng Index closed at 28,698.80, down 309.27 points or 1.07 per cent.

South Korea’s KOSPI Index closed at 3,131.88, down 11.38 points or 0.36 per cent.

Taiwan’s TAIEX Index closed at 16,854.10, down 72.34 points or 0.43 per cent.

Wisesight announces winners of this year’s Thailand Zocial Awards #SootinClaimon.Com

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https://www.nationthailand.com/biz-moves/30404712

Wisesight announces winners of this year’s Thailand Zocial Awards

Apr 09. 2021

By THE NATION

Wisesight (Thailand) Co Ltd, a leading Thai social media analysis agency, on Thursday announced the results of “Thailand Zocial Awards 2021”.

The awards have been organised for nine consecutive years to award companies, professionals and influencers who have produced outstanding work on four major social media, namely Facebook, Instagram, Twitter and YouTube.

Using the “Wisesight Metric” tool that the company has developed, Wisesight evaluated social media performance in four aspects — brand, entertainment, influencer and personal brand metric.

“This year we invited 14 experts in various fields relating to social media, digital advertising and branding to help select the most suitable candidates to receive the awards,” said Kla Tangsuwan, CEO of Wisesight.

Notable winners in each category were:

Best Brand Performance on Social Media

– Automotive: Toyota Motor

– Bank: Krungthai Bank

– Broadcasting: Workpoint TV

– Construction material: Hafele

– Consumer electronics: Samsung

– Delivery & logistics: Grab

– Department store & super Store: The Mall

– E-Commerce platform: Shopee

– Financial service: Krungsri First Choice

Best Entertainment Performance on Social Media

– Online Channel: Bie The Ska

– Podcast: The Secret Sauce

– Song: Dode Di Dong by BNK48

– TV Program: 3 Saeb

Best Influencer Performance on Social Media

– Art & Literature: Sundae Kids

– Beauty & fashion: ZuvapitSnap

– Environment: Wannasingh Prasertkul

– Family & senior: Malinda Herman

– Gadget & technology: Spin9

Best Brand Performance on Social Media by Platform

– Facebook: Eucerin

– Pantip: Homepro

– TikTok: Mirinda

– Twitter: AIS

– YouTube: Nescafe

Person of the Year Award

– Business: Jakkaphong Jakrajutatip

– Social movement: Arnon Nampa

– Politics: Wiroj Lakkhana-adisorn

– Sport: Chanathip Songkrasin

Full list of winners can be viewed at https://thailand.zocialawards.com/2021/

U.S. jobless claims jump, showing choppy labor-market recovery #SootinClaimon.Com

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https://www.nationthailand.com/business/30404680

U.S. jobless claims jump, showing choppy labor-market recovery

Biz insightsApr 09. 2021A worker sands wood components for a pool table in Jeffersonville, Ind.. on March 10, 2021. MUST CREDIT: Bloomberg photo by Luke SharrettA worker sands wood components for a pool table in Jeffersonville, Ind.. on March 10, 2021. MUST CREDIT: Bloomberg photo by Luke Sharrett

By Syndication Washington Post, Bloomberg · Payne Lubbers, Olivia Rockeman

Applications for U.S. state unemployment insurance unexpectedly rose for a second week, underscoring the uneven nature of the labor market recovery.

Initial claims in regular state programs increased by 16,000 to 744,000 in the week ended April 3, Labor Department data showed Thursday. Economists in a Bloomberg survey estimated 680,000 claims. The prior week’s data was revised up to 728,000. California and New York led states with the biggest increases in unadjusted claims.

The increase in claims shows the labor market still has a long way to go to recover the millions of jobs lost during the pandemic. Still, companies are poised to ramp up hiring in the coming months as vaccinations accelerate and business restrictions ease.

Claims data have been volatile during the pandemic amid backlogs, fraud and new programs.

Continuing claims for ongoing state benefits fell to a one-year low of 3.73 million in the week ended March 27. Applications for Pandemic Unemployment Assistance for self-employed and gig workers totaled 151,752 last week, a decrease from the prior week.

On an adjusted basis, initial claims rose by almost 39,000 in California and increased by more than 15,700 in New York. About half of all states and U.S. territories posted declines last week. Ohio and Alabama led states with the biggest decreases.

Study impact of new Covid wave, SET chief advises investors #SootinClaimon.Com

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https://www.nationthailand.com/business/30404715

Study impact of new Covid wave, SET chief advises investors

EconApr 09. 2021

By The Nation

Though the new wave of Covid-19 infections will not have a severe impact on listed companies, investors should still evaluate the impact the virus may have on each industry, Stock Exchange of Thailand (SET) president Pakorn Peetathawatchai said on Friday.

“We believe Thai businesses have already prepared themselves for the Covid-19 fallout,” he said. “Some businesses, like packaging, will gain from the outbreak.”

He also said that he expects the economy to start recovering once more people are inoculated.

Meanwhile, SET rose by 6 per cent in March thanks to progress in the anti-Covid vaccination drive and many countries’ efforts to stimulate their economy, SET’s executive vice president Soraphol Tulayasathien said.

He added that SET also gained from institutional investors’ moves to adjust their investments from growth stocks to value stocks. He added that foreign investors’ net sales in March dropped to Bt87 million compared to Bt18 billion in February.

“The Thai stock market is still attractive because it has a lot of value stocks, while many SET-listed firms were listed in global sustainability indices, such as the Dow Jones Sustainability Index,” he said.

Thai Large Banks Have Ratings Headroom Despite Weak Recovery #SootinClaimon.Com

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https://www.nationthailand.com/business/30404708

Thai Large Banks Have Ratings Headroom Despite Weak Recovery

EconApr 09. 2021

By The Nation (sponsored news)

Fitch Ratings-Bangkok-08 April 2021: The Viability Ratings (VR) of Thailand’s five largest banks are driven by their domestic franchises, which support through-the-cycle earnings generation and the build-up of sound capital buffers, Fitch Ratings says in a peer review report.

The five banks have strong and sustainable market shares, and a diverse presence across products and client segments. The VRs also take into account their relatively weak asset quality and profitability ratios compared to Fitch’s financial benchmarks, which are exacerbated by the coronavirus pandemic. That said, we do not think such weakness is likely to trigger a downgrade in the near future given the banks’ other loss-absorption buffers, including capital levels and loan-loss allowances.

The ‘BBB’ Support Rating Floors (SRF) of Bangkok Bank Public Company Limited (BBL, BBB/Stable/bbb), KASIKORNBANK Public Company Limited (KBank, BBB/Stable/bbb), The Siam Commercial Bank Public Company Limited (SCB, BBB/Stable/bbb), and Krung Thai Bank Public Company Limited (KTB, BBB/Stable/bbb-) reflect the banks’ high systemic importance. The SRFs of BBL, KBank and SCB are at the same level as their VRs, which limits the risk of a downgrade of the banks’ Long-Term Issuer Default Ratings (IDR) in the event of a VR downgrade. The Long-Term IDR of KTB is driven by its SRF.

The Long-Term IDR of Bank of Ayudhya Public Company Limited (BAY, BBB+/Stable/bbb) is driven by institutional support from its parent MUFG Bank, Ltd. (A-/Stable).

SET up in morning session but expected to be pressured by Covid-19 situation #SootinClaimon.Com

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https://www.nationthailand.com/business/30404705

SET up in morning session but expected to be pressured by Covid-19 situation

EconApr 09. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 7.31 points, or 0.47 per cent, to 1,566.14 in the morning session on Friday.

A Krungsri Securities analyst forecast that the SET would fluctuate between 1,550 and 1,570 points despite the expectation that the US Federal Reserve would maintain interest rate at low level after US jobless claims jumped, as well as the falling US Treasury yield.

“Uncertainty over Thailand’s new wave of Covid-19 outbreak is expected to continue to pressure the index,” he said.

He recommended investors buy:

▪︎ TQM, STGT, COM7, SYNEX, PTL, AJ, BDMS and CHG, which benefit from the Covid-19 outbreak.

The SET Index closed at 1,558.83 on Thursday, up 2.27 points or 0.15 per cent. Total transactions were Bt83 billion with an index high of 1,564.65 and a low of 1,552.18.

The SET rebounded after falling 1.46 per cent on Wednesday.

Weakening dollar, falling US bond yield boost gold price #SootinClaimon.Com

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https://www.nationthailand.com/business/30404703

Weakening dollar, falling US bond yield boost gold price

EconApr 09. 2021

By The Nation

The price of gold surged by Bt150 per baht weight in morning trade on Friday, the Gold Traders Association reported.

As of 9.30am, the buying price of a gold bar was Bt26,000 per baht weight and selling price Bt26,100, while gold ornaments were priced at Bt25,529.44 and Bt26,600, respectively.

At close on Thursday, the buying price of a gold bar was Bt25,850 per baht weight and selling price Bt25,950, while gold ornaments were Bt25,377.84 and Bt26,450, respectively.

Spot gold price on Thursday surged by $16.6 to $1,758.2 (Bt55,261) per ounce, the highest in a month and a half, thanks to the weakening dollar and falling US bond yield after the US Federal Reserve signalled it would maintain interest rate at a low level.

Hong Kong gold price rose by HK$80 to $16,280 (Bt65,780) per tael, the Chinese Gold and Silver Exchange Society reported.

Stocks climb on Powell’s reassurance #SootinClaimon.Com

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https://www.nationthailand.com/business/30404682

Stocks climb on Powell’s reassurance

EconApr 09. 2021A Wall Street street sign outside the New York Stock Exchange as snow falls in New York on Feb. 1, 2021. MUST CREDIT: Bloomberg photo by Jeenah Moon.A Wall Street street sign outside the New York Stock Exchange as snow falls in New York on Feb. 1, 2021. MUST CREDIT: Bloomberg photo by Jeenah Moon.

By Syndication Washington Post, Bloomberg · Rita Nazareth

Stocks climbed as Federal Reserve Chairman Jerome Powell said the central bank has the tools to curb any inflation pressures, which are expected to be temporary as the economy reopens.

The S&P 500 notched another record amid thin trading volume. The Nasdaq 100 outperformed major equity benchmarks as giants such as Apple Inc. and Tesla Inc. rallied. Energy producers and banks retreated. Treasuries rose, while the dollar fell.

One day after the Fed’s March minutes struck a dovish tone for the path of monetary policy, Powell said the central bank would react if inflation expectations start “moving persistently and materially above levels we’re comfortable with.” He also noted that disparate efforts to vaccinate people globally is a risk to progress for the economic rebound, which remains “uneven and incomplete.”

“The doves are in control, and today’s cautious comments from Fed Chair Powell delivered another reiteration of their ultra-accommodative stance,” said Edward Moya, senior market analyst at Oanda in New York.

Meanwhile, Fed Bank of St. Louis President James Bullard said it’s too soon for central bankers to discuss tapering asset purchases as long as the pandemic continues. Data Thursday showed applications for U.S. state unemployment insurance unexpectedly rose for a second week, underscoring the choppy nature of the labor-market recovery.

These are some of the main moves in markets:

Stocks

– The S&P 500 rose 0.4% at 4 p.m. EDT.

– The Stoxx Europe 600 Index climbed 0.6%.

– The MSCI Asia Pacific Index gained 0.3%.

Currencies

– The Bloomberg Dollar Spot Index decreased 0.4%.

– The euro advanced 0.4% to $1.1914.

– The Japanese yen appreciated 0.5% to 109.31 per dollar.

Bonds

– The yield on two-year Treasurys fell one basis point to 0.15%.

– The yield on 10-year Treasurys slid five basis points to 1.62%.

– The yield on 30-year Treasurys fell five basis points to 2.31%.

Commodities

– West Texas Intermediate crude settled at $59.60 a barrel.

– Gold rose 1% to $1,755.79 an ounce.

SET rebounds despite new virus wave #SootinClaimon.Com

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https://www.nationthailand.com/business/30404671

SET rebounds despite new virus wave

EconApr 08. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,558.83 on Thursday, up 2.27 points or 0.15 per cent. Total transactions were Bt83 billion with an index high of 1,564.65 and a low of 1,552.18. The SET rebounded after falling 1.46 per cent on Wednesday.

In the morning session, Krungsri Securities forecast that the day’s SET would fall to between 1,545 and 1,550 points as a new wave of Covid-19 sparked uncertainty over Thailand’s economic recovery.

However, the US Federal Reserve’s resolution to maintain monetary policies until the economy recovers and the International Monetary Fund’s move to raise its global growth forecast would help the index rebound, Krungsri Securities predicted.

The 10 stocks with the highest trade value today were STA, STGT, DELTA, SCC, KCE, IRPC, HANA, KBANK, TISCO and PTT.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 29,708.98, down 21.81 points or 0.073 per cent.

China’s Shang Hai SE Composite Index closed at 3,482.55, up 2.93 points or 0.084 per cent, while Shenzhen SE Component Index closed at 13,989.94, up 10.63 points or 0.076 per cent.

Hong Kong’s Hang Seng Index closed at 29,008.07, up 333.27 points or 1.16 per cent.

South Korea’s KOSPI closed at 3,143.26, up 5.85 points or 0.19 per cent.

Taiwan’s TAIEX Index closed at 16,926.44, up 111.08 points or 0.66 per cent.