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https://www.nationthailand.com/business/corporate/40019003

Mr Lim Hua Tiong, Chief Executive Officer – Development of One Bangkok and Chief Executive Officer of Frasers Property Vietnam, recently shared his visions for One Bangkok, Thailand’s largest integrated development in central business district.

As a keynote speaker under the topic of “A Developer’s Perspective on the 4Ds of Transforming Cities” (Decarbonisation, Decentralisation, Digitalisation, Disclosure) during the Urban Land Institute event at World Cities Summit 2022 in Singapore, Mr Lim Hua Tiong shared his visions among a panel of developers in development and asset management for properties from around the region. 

Published : August 17, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/corporate/40018997

Bangkok, August 16, 2022 — Bitkub Ventures, a Bitkub Capital Group Holdings associated company, invested in KillSwitch, a yield farming platform with a goal to strengthen Bitkub Chain’s ecosystem.

KillSwitch is a cross-chain yield aggregator DeFi platform aims to improve security and convenience for all yield farmers. They have unique features like ‘Auto-Compound’, ‘Mixture’, and their most recent addition, ‘Take Profit/Stop Loss’, which guarantee that users are free to ‘Unstake’, remove liquidity position from their funds, or sell their high-risk assets in an easy and secure manner.

This collaboration will bring new DeFi related applications onto Bitkub Chain with the help of the KillSwitch team. In order to get the best outcomes for the strategic partnerships, both parties agree to support one another with marketing initiatives. This partnership will bring the KillSwitch team, one of the blockchain industry’s most promising teams, into building on Bitkub Chain.

“The decision to invest in the KillSwitch project is because it is a yield aggregator platform that can make it easier for people to use DeFi with KillSwitch’s various functions. It is also one of the few developed by a talented Thai team and experts in the industry like Khun Chanon’s team. The platform built and targeted at a global scale and is also the only platform with stop loss feature in the world. Bitkub Ventures believes that this investment will create synergy for the Bitkub Chain,” said Ms. Naowarat Thammasuaydee, CEO of Bitkub Ventures.

“We have one common idea, that although KillSwitch is almost 100% Defi, I see that if we don’t have a use case in the real world sector, it won’t be sustainable. We have the same strategic approach and mission. I believe that this joint investment will allow Bitkub Chain and Rei Chain to grow to the next level. I want these two chains to be viewed as sister chains that can act as a bridge between the two chains,” said Mr. Chanon Yaklai, CEO of KillSwitch.

“This cooperation will strengthen Bitkub Chain’s ecosystem and I believe that KillSwitch will provide a lot of conveniences and improve the security to all yield farmers on Bitkub Chain,” said Mr. Passakorn Pannok, CEO of Bitkub Blockchain Technology.

Follow for more news and updates of Bitkub Group
Facebook Bitkub Capital Group Holding: https://www.facebook.com/bitkubgroup/
Facebook Bitkub Chain: https://www.facebook.com/bitkubchainofficial

And KillSwitch
Website: https://www.killswitch.finance/ 
Twitter: https://twitter.com/KillSwitch_Defi
Medium: https://killswitch-official.medium.com/

#BitkubVentures #BitkubChain #Blockchain #KillSwitch #CrossChain #SmartContract #DeFi
 

Published : August 17, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/corporate/40018977

Distressed cryptocurrency firm Zipmex has been granted a three-month debt moratorium for all its entities by a Singapore court.

Zipmex Thailand said the court approved the request during a hearing on Monday and the debt moratorium provided protection to Zipmex Asia, Zipmex, Zipmex Thailand and two other subsidiaries of the Singapore-based parent company.

The five Zipmex firms will be protected from legal action by creditors until December 2.

The court also ordered Zipmex firms to hold Town Hall meetings with clients within the next month to inform them of the current status of Zipmex firms, the possibility of buyouts by investors, and when they will be given access to their frozen Z Wallet accounts.

The dates for the meetings will be announced via emails and websites of the Zipmex firms.

Zipmex hit trouble after it invested US$53 million worth of crypto coins deposited by Z Wallet clients in two crypto lenders, Babel Finance and Celsius, which then defaulted.

Under the moratorium, Zipmex firms must report their assets within one month and any transfer of assets within 14 days. They must also issue reports on their profits and liquidity within a month as well as monthly reports on management budgets.

The Zipmex firms are also required to issue an affidavit on the progress of operations to tackle the financial crisis within six weeks.

The court also ordered the Zipmex firms to issue monthly progress reports to clients.

Zipmex Thailand said the court’s approval was a positive sign and reflected Singapore’s and international investors’ confidence that Zipmex could solve the crisis.

It said Zipmex firms were trying to mitigate the impact from Z Wallet woes and are in the process of developing an eco-system for stability of Zipmex’s ZMT coin.

It added that Zipmex firms are in buyout talks with several major investors aimed at injecting liquidity to repay investors.

Published : August 16, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/corporate/40018974

Thai Leaf Biotechnology (Thai Leaf) has announced plans for hemp development and production aimed at making Thailand a regional leader in the hemp and cannabidiol (CBD) market.

Thai Leaf’s CEO Yingyos Charubusapayon told a press conference on Tuesday that legalisation of hemp at the beginning of 2021 had piqued interest among investors and various industries, creating continuous new demand and supply.

Aiming to be a one-stop service for high-quality hemp products, Thai Leaf has joined hands with local property developer Origin, CannaPharma of Canada, Singapore’s Eralian Capital and Cornell University in the United States.

The partnerships would ensure the quality of the company’s hemp products from seed strains to CBD oil, Yingyos said.

Thai Leaf is currently collaborating with Cornell University researchers to improve its own hemp strain as a unique variety that can only be grown in Thailand.
 

The Cornell researchers will also assist the company in extracting purified and high-quality CBD for pharmaceutical purposes, he said. The global CBD market was valued at US$5.18 billion (185.5 billion baht) last year.

Meanwhile, Thai Leaf plans to collaborate with local producers to create hemp-based products using their CBD extract. Drinks and beverages, supplements and cosmetics would be the primary product categories.

These consumer goods are due to launch early next year targeting total annual sales of 750 million baht. He added that Thai Leaf would wait until the government issues regulations on hemp before producing CBD pharmaceutical or medical products.
 

Thailand’s hemp market is expected to grow by 7.2 billion baht this year, with Thai leaf accounting for a 10 per cent share, Yingyos said.

The company has a five-year business plan (2022-2026) aimed at driving Thailand to become a regional leader in CBD-infused hemp products and expanding to a global level thanks to high potential in various related fields. These include its ambition to become an Asean region medical hub generating enormous economic growth.

Chalerm Traill, Thai Leaf’s president, said hemp has high economic value as components of the plant can be developed into a variety of products, including food, medicine, textiles and appliances. The global hemp-products market is expected to grow to $18.6 billion by 2027.

Published : August 16, 2022

By : Nongluck Ajanapanya

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https://www.nationthailand.com/business/corporate/40018966

The company returns to profit-making for the first time after five-consecutive loss-making quarters, pushing the second half results to surpass the full-year target, driven by 4 businesses across the portfolio together with the new housing project.

Bangkok (August 16, 2022) – Singha Estate Public Company Limited reported its total revenue of 5.79 billion baht in the first half of 2022 (1H2022), jumped 92 per cent YoY. The significant improvement in financial performance was mainly resulted from an increase in revenue across 4 existing businesses and the revenue recognition from sale industrial area for the first-time in the second quarter. Thanks to our strategies during the past 2 years to diversify our investment across all cores and connected businesses. The strategic move has led 2022 revenue to double the performance over the last year, recaching its new high.

An increase in revenue due primarily to the robust performance of hospitality business, reported at 3.761 billion baht, tripled the total revenue from the same period of 2021. This was attributed to the sharp recovery in performance of CROSSROADS Phase 1 hotels together with the UK Portfolio hotels which increased 128 per cent compared to the same period last year and made up to 75 per cent of total revenue from hospitality business. Moreover, the Company foresees the great momentum of the Outrigger Portfolio and Thailand Portfolio hotels which generate revenue from sales and services increased over 8 times from the same period last year, contributed 25 per cent of total revenue from hospitality business. The Company has set the revenue target of those portfolio to reach goal of 35 per cent of its total revenue from hospitality business in stabilized period or more than 4 billion baht. This reflects a positive signal to future revenue growth which can be substantial when tourism sector recovers to surpass pre-pandemic.

At the same time, revenue generated from commercial business in 1H2022 increased 5 per cent YoY mainly from the solid average occupancy rate at 88 per cent. Meanwhile, the Company could achieve the higher average rental rate amidst the challenging situation. Therefore, the revenue from rental and services improved by 132 per cent from the same period last year to 4.371 billion baht in 1H2022. The revenue from sales of real estate also improved to 1.419 billion baht in the said period. The increase was attributed to the recognized revenue from The ESSE Asoke and The ESSE at Singha Complex together with the revenue from sale industrial area in S Industrial Estate Angthong for the first time in the second quarter of 2022.

Mrs. Thitima Rungkwansiriroj, Chief Executive Officer of Singha Estate Plc, or “S”, revealed that the success of business restructuring became fruitful in Q2/2022, particularly the additional investing in the hotel portfolio which could provide a diversified and seasonal balanced portfolio. Tropically the second quarter is considering as the high season of United Kingdom and Fiji, leading the revenue of those portfolio to increased 40 and 100 per cent, compared to the same period last year. Moreover, investing in industrial estate and infrastructure business is helping diversify revenue stream via customer base and generating recurring income in the long run. During the said quarter, Singha Estate achieved total land transfer and realized the revenue from sale industrial area of 77 rais to B.Grimm Power (Angthong). Regarding the accelerated business recovery and the effective cost management, the Company announced its second quarter 2022 financial results, posting a returning to strong profitability at 102 million baht. We are confident that the strong performance will keep up the momentum.

Looking into the remainder of 2022, the financial performance is expected to have a progressive improvement, rising 30 per cent from the first half of the year, benefited by the robust performance of hospitality business and the revenue from sale houses and condominium units. The Company foresees the positive sentiment of operating results in July 2022, showing the average occupancy rate at 70 per cent. We expect the hospitality business to continue its robust recovery particularly in the high travel season of Thailand and Maldives in Q4/2022. Moreover, we continue to uplift the properties in order to strengthen hotel efficiency and increase average room rates (ADR) in the future. Consequently, CROSSROADS hotels and UK Portfolio hotels are expected to enhance ADR to surpass the pre-COVID19 level by 41 and 27 per cent, respectively. Apart from the continuous outstanding performance from CROSSROADS and UK Portfolio, another key driver that will escalate the operating results is from Thailand hotel portfolio, following the fully re-opening the country in July, resulting in SAii Laguna Phuket and SAii Phi Phi Island Village to achieve an occupancy rate of 68 and 63 per cent, respectively. Therefore, with the potential of the company’s hotels which based in prime location of the five most popular tourist destinations around the world and the success of the Company’s brand awareness, we are fully confident to the stronger performance of Thailand hotel portfolios, expected to generate nearly double the revenue growth in the second half of the year.

Singha Estate also expects the accelerated transferred activities of the Santiburi the Residences in the second half of the year. Moreover, the Company set target to transfer the new project “Siraninn Residences” by the fourth quarter of the year. This will lead the full-year revenue from residential to grow by 50 per cent YoY or more than 3.3 billion baht in 2022 from the new housing project “Siraninn Residences” which is expected to launch in September this year. The project is located on Pattanakarn 32, one of the most premium locations for urban housing projects today. Siraninn Residences is a two-story horizontal luxury detached housing project, surrounded by quality communities, offering exclusively only 28 units which the estimated price starts from 65 to 180 million baht, and 4 home offices whose price is estimated around 20 million baht each. The company has been receiving interests from customers who have loyalty towards Singha Estate brand. We, thus, confident to achieve the transfer target in Q4/2022, according to business plan.

The Company has set the ambitious target of new project launch of 52 billion baht within 5 years, pushing forward the luxury housing market through three new segments which has estimated price per unit starts from 10 to 100 million baht. Other two segments will be officially launched in 2022. With its current progress of land acquisition, the Company has secured 2 land plots and the remaining target are nearly to be completed for project development which will be ready to launch of 4 projects within 2023. The Company fully expects to acquire another 5-7 land plots per year and will continue to launch the projects with an estimated value of 10 billion baht per year.

“Regarding the progress of long-term lease agreement on the Company’s retail space with S Prime Growth Leasehold Real Estate Investment Trust (SPRIME), on June 24, 2022, the Company has leased the retail space in the Suntowers building to the SPRIME with the transaction amount of 213 million baht, in which the particular retail space has an occupancy rate at 98 per cent currently. The Company strongly believed that the investment of SPRIME is focus on the potential assets that would provide a profitable in the long-term. However, the Company still considers postponing the long-term lease of Singha Complex into SPRIME owing to the fluctuated capital market. As well as the economic situation still under pressure from the higher interest rate, inflation, fuel price, pandemic, and the international political conflicts. However, the Company is confident that the performance of Singha Complex will generate profit from operation around 400 million baht per year,” said Thitima.

Published : August 16, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/corporate/40018960

Nation Group (Thailand) Plc’s “One Nation” synergy strategy for cost management has proved successful with profits soaring 620 per cent in the first quarter from the same period last year.

Nation Group (NATION) reported to the Stock Exchange of Thailand (SET) that during the first six months of this year, it recorded a profit of 519.73 million baht, compared with a loss of Bt99.87 million in the same period last year.

Nation Group reported a 178 per cent rise in overall revenue for the first half of this year compared with last year, while revenue from sales and services rose by 21 per cent driven mainly by advertising and events.

Nation Group said 457.76 million baht of profit came from the sale of 61.46 per cent of its shares in Nation Broadcasting Corporation, leaving it with a 9.99 per cent stake in NBC.

Group CEO Shine Bunnag said the profit came from sales of advertisements and holding of events, efficient cost management, business structuring and sale of shares in a daughter company.

These factors had strengthened the financial status of the group, which would allow him to lead the organisation forward with stability as a long-established media institution and the largest media group in Thailand, he added.

“We will move forward as the No 1 provider of reliable information with a responsibility to society,” Shine said.

He attributed the group’s impressive performance to business restructuring under the One Nation strategy.

“This created a phenomenon that saw all media outlets in the group – including Nation TV, Nation Online, Krungthep Turakij, Kom Chad Luek, Spring News, Thai News, The Nation, OK Nation and the People – join forces to increase working efficiency and reduce redundant costs, resulting in a strong financial status,” Shine said.

In March this year, Nation Group overhauled its business structure by having the parent company directly hold shares in its subsidiary firms.

Nation Group also announced the One Nation policy to unify management and increase its efficiency, allowing the group to reduce redundant costs by hundreds of millions of baht per year.

Shine said synergising under the One Nation strategy emphasised Nation Group’s strong point as champions of the “content is king” policy.

He compared each outlet’s editorial department to a chef with a different expertise in preparing news that is useful to society. Each Nation Group outlet carefully checks and verifies information to produce quality content with integrity, he said. The group also adheres to the highest standard of media ethics and prioritises the fight against fraud and corruption.

Shine added that Nation Group expects growth in all units this year, including TV media, print, online media, events and business-to-consumer businesses.

“Although we are a listed company, our goal is not only profit. Our goal is to lead our organisation forward at a strong pace so that we can pay dividends to shareholders in the long term and provide security to our staff. We’ll take care of our staff while also producing useful news information based on media ethics to serve society sustainably,” Shine said.

“Our ideology as a media group with responsibility to society will be underlined by operations that monitor against corruption and take care of the national and public interests.”

Published : August 16, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/corporate/40018957

Singha unveils the new “Singha Red Lemon Soda,” exciting the beverage market for the year’s second half. The unique flavor comes with freshness and zesty lemon flavor combined with Singha soda’s signature fizziness and no sugar or calories for health lovers.

Mr. Titiporn Thammapimookkul, Chief Marketing Officer of the Boonrawd Trading Co., Ltd., reveals that Singha Lemon Soda is a product born from Mr. Bhurit Bhirombhakdi policy for new products which need to suit the market trends and consumers’ needs. The unique flavor will build on two existing products’ success, Singha Lemon Soda and Singha Yuzu Lemon Soda; both contain richness in taste with no sugar and calories for health-loving consumers who seek refreshing drinks.

The new “Singha Red Lemon Soda” will shake the beverage market with its true lemon zest and Singha’s sweet and sour combination with no sugar and calories, suited for consumers who are looking for great products for their health, available at their convenience in the can packaging that they can take with anywhere, anytime.

The “Singha Red Lemon Soda” comes in a sparkling red 330 ml. can, retailing at 16 Baht and available now at 7-Eleven and will be available in modern and traditional trade this September.

“Singha Red Lemon Soda” will provide a refreshing option for consumers and grow Singha Lemon Soda’s portfolio to a goal of 45 million liters in 2022, compared to its 28 million liters sold in 2021, worth over 1.357 billion Baht in the carbonated can drinks which values over 13.172 billion Baht.

Published : August 16, 2022

By : THE NATION