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Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application

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https://www.nationthailand.com/business/40018421

Bangkok (August 1, 2022) – Siam Piwat Co., Ltd., is building on the success of its Recycle Collection Center, Thailand’s first waste segregation point in the inner city, by introducing a new waste-to-VIZ Coin conversion program on ONESIAM Application.

Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application

Managed by Velocity Co., Ltd. (a company in Siam Piwat Group), the program allows customers to convert waste into VIZ Coins, which can be redeemed for various privileges within its shopping malls.

Ms. Naratipe Ruttapradid, Chief Operating Officer of Siam Piwat Co., Ltd., said, “Since its launch, the Drive-Thru Recycle Collection Center, which is the first of its kind in Thailand, has garnered tremendous attention among eco-friendly people who share Siam Piwat’s view towards waste management and the significance of systemic waste separation across the value chain. This environmental project is open to everyone who wishes to make a positive contribution to society and the planet. To continue our efforts to promote eco-consciousness this year, we are introducing a program where customers can drop recyclable waste with us and convert them into VIZ Coins via ONESIAM Application. The goal is to encourage everyone to take part in reducing, sorting, and recycling waste to maximize its value, which will ultimately lead to a behavioral shift, eco-conscious consumption of resources, greater awareness in the value of waste, and a more widespread practice of waste separation.”

Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application

The Recycle Collection Center (RCC) is part of Siam Piwat 360° Waste Journey to Zero Waste Project, which seeks to advance closed-loop waste management in accordance with circular economy principles and places emphasis on systemic waste management across the value chain. Siam Piwat has installed two drive-thru waste collection points at Siam Paragon, namely at the tour bus parking lot on G Floor outside the north wing, and Exit 4 on G Floor (near Bangkok Bank). Customers and the general public are invited to drop off clean and sorted waste at these locations so that it can be recycled into raw materials and upcycled into products for sale at Ecotopia in Siam Discovery.

Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application
Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application

To celebrate the 1st anniversary of the project, Siam Piwat, in collaboration with Unilever Thai Group of Companies, Kao Industrial (Thailand) Co., Ltd., Tetra Pak (Thailand) Co., Ltd., and its partners, will be awarding VIZ Coins to participants from August 1, 2022 to December 31, 2022. The details are as follows:

1) Participants can drop off clean and sorted waste at the drive-thru collection point at the tour bus parking lot (at the back of Siam Paragon) daily from 9.30am to 5pm. 

2) To join this program, participants are required to download ONESIAM Application in order to receive and collect VIZ Coins. The conditions for receiving VIZ Coins are as follows: 

  • The first 1,000 first-time participants who drop off waste at the Recycle Collection Center between August 1-31, 2022 will receive 20 VIZ Coins.
  • Participants who drop off waste at the Recycle Collection Center, including those under the item above, will receive VIZ Coins based on the criteria below when they scan the QR code at the drop-off point. (If the decimal of the weight exceeds 0.8 kilograms, it will be rounded up to 1 kilogram.) 
Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application

VIZ Coin conversion based on waste type and weight

1. Paper (1 kilogram = 3 VIZ Coins)
e.g. newspapers, cardboard, magazines, brochures

2. Glass (1 kilogram = 1 VIZ Coin)
e.g. glass bottles, glass panes

3. Hard plastic (1 kilogram = 1 VIZ Coin)
e.g. PVC pipes, milk containers, shampoo and conditioner bottles, soap dispensers, laundry detergent and fabric softener bottles

4. Aluminum (1 kilogram= 30 VIZ Coins)
e.g. soda cans, milk cans, coffee cans, tin cans for canned fish, aluminum lids

5. Stretchy plastic (1 kilogram = 1 VIZ Coin)
e.g. stretchy plastic bags, shopping bags, plastic envelopes, bubble wraps, resealable bags, zip lock bags, cling films, bread bags, sugar bags, plastic ice bags 

6. Multilayer plastic (1 kilogram = 1 VIZ Coin)
e.g. snack pouches, dish soap refill pouches, laundry detergent pouches, fabric softener pouches, instant coffee packets

7. Clear plastic (1 kilogram = 5 VIZ Coins)
e.g. water bottles, beverage bottles, clear dish soap bottles

8. Cartons (1 kilogram = 1 VIZ Coin)
e.g. milk cartons, juice boxes, or coconut milk cartons

Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application
Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application


*Remarks:
–    This program aims to promote and raise awareness of waste segregation and management among the public only and is not engaged in for any profit. Siam Piwat reserves the right to change the VIZ Coin exchange criteria as appropriate. The Company’s decision is final.
–    Orphan plastic, or non-recyclable post-consumer plastic, cannot be exchanged for VIZ Coins. 

Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application
Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application
Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application
Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application

Siam Piwat Company Limited (“Company”), as the organizer of Siam Piwat 360° Waste Journey to Zero Waste Project (“Project”), is required to collect and use your personal data, namely your full name and your phone number, in order to:

(1)    Register your participation in the project and authenticate your identity; 
(2)    Transfer VIZ Coins to you in accordance with the project’s terms and conditions; and 
(3)    Communicate with you and inform you of the details of the project 

You can read further information about the collection, use, and disclosure of your personal data in accordance with the Company’s privacy policy by scanning the QR code below.

Siam Piwat introduces waste-to-VIZ Coin conversion program, featuring various privileges for eco-conscious customers on ONESIAM Application

Published : August 02, 2022

By : THE NATION

Zipmex has filed for debt moratorium, not bankruptcy: Thailand chief

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Zipmex Thailand CEO and co-founder Akalarp Yimwilai said on Monday that Zipmex Global has not filed for bankruptcy in Singapore, as earlier reported and widely shared on social media.

Zipmex has filed for debt moratorium, not bankruptcy: Thailand chief

Akalarp said Zipmex Global has instead sought approval from a Singapore court for a moratorium on legal action over its debts due to its problematic ZipUp+ product.

Any order issued by the Singapore court would have no impact or legal binding on customers of Zipmex Thailand who invested in ZipUp+, he said.

Zipmex Thailand’s clients would still have full rights to their digital assets deposited in ZipUp+, he added.

ZipUp+ offered Zipmex customers interest of up to 10 per cent to investors who deposited cryptocurrencies such as bitcoin and Etherium.

However, US$53 million of ZipUp+ deposits was then deposited with crypto lenders Babel Finance and Celsius, which have since filed for bankruptcy protection.

Zipmex Thailand disabled the product on July 20.

Akalarp said 60,000 to 70,000 Thai investors have deposited a total of around 2 billion baht in ZipUp+.

He said that if the Singapore court approves the debt moratorium request, Zipmex Global would need investors to inject fresh capital so it could return digital assets to its clients. Zipmex is reportedly in negotiations with potential investors.

Published : August 01, 2022

By : THE NATION

Ageing office buildings feeling stronger impact from rising competition

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https://www.nationthailand.com/business/40018420

With growing competition in the Bangkok office market, fueled by a large amount of new supply that is coming, ageing office buildings are losing their ability to retain and attract occupiers.

Ageing office buildings feeling stronger impact from rising competition

This trend is putting pressure on landlords of these buildings to become more proactive and find ways to enhance the value and competitiveness of their assets, according to property consultancy JLL.

“JLL’s leasing activity data shows that the majority of new leases are being signed within modern office buildings, showing a clear preference amongst occupiers. Consequently, buildings that are built before 2002, which are referred to as ‘ageing’, are typically struggling to attract new occupiers,” says Jeremy O’Sullivan, Head of Research and Consulting at JLL.

“Compared to the top-grade new supply coming to market, ageing buildings generally have an inferior design, facilities and technology. Some were previously prime grade buildings that have been downgraded to the secondary tier in recent years,” he adds.

The latest study by JLL reveals that the total stock of office space in Bangkok is standing at 9.97 million sqm at present, of which nearly 70% are buildings aged over 20 years. Findings from the study also show that office buildings aged not more than 20 years saw the average vacancy rate at 17% and the average rental at THB821/sqm/month at the end of the first quarter of 2022, while older buildings witnessed the average vacancy rate at 26% and the average rental at THB654/sqm/month over the same period.

Between now and 2026, the Bangkok office market will see an additional 2.2 million sqm of new space. Of this, more than 1.7 million sqm or 81% will be from prime grade developments. JLL expects this to raise vacancies and put further downward pressure on rents in ageing, secondary-grade office buildings.

Thananun Ruengveeravich, Head of Office Leasing Advisory at JLL, says “The growing availability of new prime office supply means that occupiers now have more options when it comes to site selection for their workplace. We have seen an increasing number of occupiers taking this opportunity to review their office efficiency and considering relocation to newer buildings.”

Findings from JLL’s study show that between the second quarter of 2021 and the first quarter of 2022, the Bangkok office market saw a negative net absorption of -82,000 sqm. However, office buildings whose construction was completed in 2011 or later continued to see positive net absorption of 99,000 sqm in total versus -181,000 sqm of negative take-up in older buildings.

“In response to the flight-to-quality trend of occupiers, some landlords of older, secondary-grade buildings are considering to offer rental discounts to maintain or boost occupancy while more proactive landlords are looking for a strategy to enhance their ageing assets to stay relevant and meet evolving demand from occupiers in the long term,” says Thananun.

Natcha Taepongsorat, Head of Asset Enhancement at JLL, says “Other than a pricing strategy, landlords of ageing office buildings can consider an asset enhancement as a longer-term solution to improve the performance of their assets, reduce operating costs, increase revenue and avoid obsolescence. This includes a wide range of strategies from operational efficiency improvement, property management and sustainability enhancement through to revitalization.”

JLL’s observations show revitalization has gained popularity among well-located secondary-grade office buildings whose landlords look to improve cash flow and net operating incomes of their assets. Investment costs typically range from THB 30 million to 200 million, depending on each individual asset and renovation scale. Some landlords may also get their ageing office buildings renovated to become more sustainable or meet green building standards such as LEED or TREES in order to attract a growing number of corporations with a net-zero target and reduce utility bills in the long run.

“The optimal building upgrade helps futureproof assets and allows them to remain competitive in the challenging market, which is reflected in the rental improvement and reduction in operation costs. With higher income and building quality, enhanced projects are generally appraised with higher values, benefiting landlords and forthcoming investors,” says Natcha.

“Asset enhancement strategies and scales vary. It is critical for landlords and investors to evaluate their asset performance, expectation of their target occupiers and their own expectation of return on investment before making any asset enhancement decision. This will help ensure the most impactful and cost-effective option and prevent overinvestment,” she concludes.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com

Published : August 02, 2022

Baht to remain stable as few factors backing greenback

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https://www.nationthailand.com/business/40018406

The baht opened at 36.12 to the US dollar on Tuesday, weakening from Monday’s close of 36.08.

Baht to remain stable as few factors backing greenback

The currency is expected to move between 36 and 36.20 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

He said the market is being cautious and may pressure the baht to weaken, especially if foreign investors sell Thai stocks for profits.

However, the baht will not weaken much as there are no factors strengthening the dollar. Moreover, the baht is supported by gold-selling transactions.

In the short term, the baht’s key support level is at 36 to the dollar as some importers and Japanese multinational corporations bought the dollar and Japanese yen recently.

Meanwhile, most exporters are waiting to sell the dollar at 36.40, the baht’s resistance level.

Poon also advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.

Published : August 02, 2022

By : THE NATION

‘Thailand Survival’: How can the country escape global crisis?

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Economic leaders from the private and government sectors shared their visions on how the country can survive the global crisis, at the “Thailand Survival” forum organises by Nation Group in Bangkok on Monday.

‘Thailand Survival’: How can the country escape global crisis?

“Thailand still faces inflation of 7.7 per cent and rising,” Shine Bunnag, CEO of Nation Group, said. Risk factors from the Russia-Ukraine war were worsening and prolonging the inflation problem, he added, so “Thailand Survival” solutions must be found.

Shine Bunnag, CEO of Nation GroupShine Bunnag, CEO of Nation Group

Kobsak Pootrakool, Chairman of the Federation of Thai Capital Market Organisations (FETCO), said Thailand faces seven economic challenges. These were international conflict, the energy price crisis, impacts of globalisation, the global food crisis, financial market volatility, recession in the United States and elsewhere, an emerging markets crisis, and China’s economic problems.

He noted that the US Federal Reserve raised its benchmark interest rate by 75 basis points on July 27, the latest in a series of rate hikes aimed at cooling the US economy and lowering inflation. However, impacts from the rate hikes are being felt around the world, including in emerging economies like Thailand.

“One thing to keep an eye on now is the crisis in emerging countries or the Emerging Market, which started with small countries like Sri Lanka,” Kobsak said.

He said the economic crisis will deepen over the next two years as emerging markets come under more pressure from three factors.

These were: rising interest rates as major countries fight inflation; global energy and food crises driven by rising prices; and the global economic slowdown hitting exports.

Kobsak Pootrakool, Chairman of the Federation of Thai Capital Market Organisations (FETCO)Kobsak Pootrakool, Chairman of the Federation of Thai Capital Market Organisations (FETCO)

However, the good news was that Thailand had suffered relatively minor impacts from the global food crisis. Meanwhile, the Thai agricultural sector and tourism industry could potentially rescue the economy while the weak baht was beneficial to exports, he said.

“All of this means that the tail of the monsoon in emerging markets will eventually collide everywhere, including Thailand. But if we prepare well, we can be good, different, and immune starting today,” Kobsak concluded.

Kriengkrai Thiennukul, vice president of the Federation of Thai Industries (FTI), offered more reasons to hope as he recounted how Thailand had rebounded from recent economic shocks.

“In the last 10 years, we’ve seen global challenges, starting with digital transformation or disruption,” he said. Noting that even the strongest businesses can collapse quickly due to this rapid change, he said that Thai companies were busy trying to figure out ways to survive disruption.

After digital disruption came the China-US trade war, catching Thailand in the crossfire as a trade partner of both countries and an important link in the global supply chain. But one Thai industry that flourished, said Kriengkrai, was air-conditioner manufacturing because the US was ordering from Thailand instead of China.

“After that, we faced the Covid-19 crisis, which was horrible, but it was an opportunity for [Thailand’s] medical textile industry, where products such as reusable and washable PPE suits made from automotive parts could be exported.”

Next came the Russia-Ukraine war that sent costs soaring for SME businesses, with inflation hitting the price of fuel and consumer goods.

“In the global market, demand for food is high and Thailand ranks as the world’s 13th food exporter and looks set to reach the top 10 by the end of 2022,” he said.

“After inflation comes recession, which is expected to happen soon, but on the bright side, the baht will weaken which will give us an advantage.”

The final challenge would be climate change, which Kriengkrai described as “humanity’s biggest problem”.

Sangchai Theerakulwanich, Chairman of the Federation of Thai SMEsSangchai Theerakulwanich, Chairman of the Federation of Thai SMEs

Sangchai Theerakulwanich, Chairman of the Federation of Thai SMEs, said that although the fundamental economic structure had improved, problem-solving had decreased. With income falling, Thailand’s only chance of survival was to increase GDP.

“The Covid-19 epidemic is in its third year and will continue to affect businesses, particularly SMEs,” he added.

He called for more domestic investment via low-interest financing for small and medium-sized enterprises, and skills training to meet current and future demands. Meanwhile, Thailand’s bio-circular-green (BCG) economy should be boosted to help SMEs.

Reducing debt (bad, informal and household debt) would enable the SME rehabilitation fund to offer more low-cost funding sources for entrepreneurs, reducing unemployment and lowering the government spending burden, he added.

Chaichan Chareonsuk, chairman of Thai National Shippers’ Council (TNSC), noted healthy figures for Thailand’s main food export, with 3.5 million tonnes of rice shipped in the first six months, which is expected to rise to 7 million tonnes by the end of this year. He added that the Russian-Ukraine war and global crisis had driven up Thai food exports.

And although Thai exports to China only grew 0.8 per cent in the first half thanks to its zero-Covid policy, exports to Asean rose 28 per cent and 24 per cent to CLMV (Cambodia, Laos, Myanmar and Vietnam).

TNSC forecasts Thai exports to grow 6.2 per cent overall this year. Chaichan said Thailand’s export strategy should focus on emerging markets such as India, the Middle East and Asean. The target should also be to reduce costs and boost liquidity, he added.

Thai Agriculturist Association president Pramote Charoensilp said the outlook for Thailand’s agro-export industry was bleak. Farmers were struggling with low market prices, productivity, and competitiveness in the global market, despite the falling baht.

Thailand was benefiting from higher exports of fertiliser after the Russia-Ukraine war hit global supply. But on the downside, Thai rice was losing out to Vietnam’s cheaper product on the world market.

Pramote urged the government to help the farm sector with production costs so that it could survive and advance.

Furthermore, the event included a session topic on “How the Thai economy will evolve?” from representatives of the country’s various political parties to demonstrate their vision such as Suwat Liptapanlop( President of the Chart Pattana Party),Dr. Pisit Leeahtam(The Democrat Party),Supant Mongkolsuthree(Chief of the Thai Sang Thai Party),Sontirat Sontijirawong(Secretary-general of Palang Pracharath Party),Attawit Suwanpakdee(Secretary-general of Kla Party,Paopoom Rojanasakul(Deputy Secretary -General of the Pheu Thai Party)

Published : August 01, 2022

By : Varunsuda Karunayadhaj

Central Retail reinforces Tops as the #1 Food Retailer in Thailand and Vietnam

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Central Food Retail under Central Retail creates another phenomenon in Thailand’s retail industry with the launch of ‘Tops CLUB’, a megaproject in retail, piloting with a Rama II location in late September this year.

Central Retail reinforces Tops as the #1 Food Retailer in Thailand and Vietnam

The company also reveals its 5-year strategy with four key areas, based on the CRC Retailligence strategy.

With investment of 18 billion baht, the company expects to triple its revenue and to expand its customer base by increasing its store presence to 1,700 locations, becoming the #1 Food Retailer in Thailand and Vietnam.

Stephane Coum, Chief Executive Officer – Food Group, Central Retail, said, “For the past 26 years, as the first supermarket in Thailand, we’ve always focused on offering the best experience and meeting the needs of our customers. We never stop improving and always seek new growth opportunities. We have expanded our business to cover all segments, and today we have many store formats nationwide, including Tops Market, Tops Food Hall, Tops Daily, Central Food Hall and FamilyMart. The variety of formats coupled with the assortment of products and services via omni-channel platforms, we are able to cater to every need of our customers anytime. Tops Market is a successful brand in Thailand, and the success is expanded further into Vietnam. To elevate our retail business as we embark on our third decade, and to grow steadily, strongly and sustainably, we have announced our 5-year strategy with four key areas to lead our food retail business towards our goal.

1.    The leader of supermarket in all platforms, covering every segment

As a food retailer with the widest range of store formats to meet consumer needs, including supermarket, world-class food store, and convenience store, Tops is able to cater to every segment and every need. There are also new formats to ensure that Tops is a destination that fulfils every shopping need and caters to changing consumer lifestyles.

A new project that will be a phenomenon in the food retail industry is ‘Tops CLUB’, the first exclusive global household shopping experience with a membership model. It will be an empire of more than 3,500 products, of which 70% being imported goods and exclusive brands. The product categories include fresh ingredients, dry ingredients, snacks, home essentials, toys, camping supplies, and sport equipment. Only the best brands are selected to meet the needs of consumers with high purchasing power who seek quality. The first ‘Tops CLUB’ flagship store will officially launch in late September in Rama II.

2.    The most complete omnichannel platforms for supermarket in Thailand with the concept of WHENEVER, WHEREVER  

Tops is committed to becoming the leader of omnichannel platforms to offer choices to its customers. In addition to shopping at physical stores, there are many online channels to offer a seamless experience to customers, giving them a feeling of shopping at the stores. They can be assured of the quality, freshness, and variety when shopping via Tops Online which offers convenience in every step, from browsing and ordering to delivery, with a team to select the best products. Professional Pickers allow customers to personalize their orders and add their preferences. 

3.    Tops, the ‘One Stop Shopping’ destination, curates the largest selection of new food products from around the world 

Known as a food destination that fulfils diverse needs, Tops reinforces leadership in the quality and freshness of its products with over 45,000 items to choose from. Tops is also backed by a dynamic team that is always exploring quality products sourced around the world across every food category, bringing the newest and most trending products to delight customers. 

4.    Driving business towards sustainability in Thailand and Vietnam  

The company recognizes the importance of driving its business through the grassroots economy in the country by purchasing agricultural produce directly from farmers. Venues are offered to farmers to sell their produce to consumers at ‘JINGJAI FARMERS’ MARKET’. We also offer growth opportunities to SMEs nationwide through ‘Tops Tong Tin’ platform.

Central Retail Corporation Public Company Limited or Central Retail is the leading multi-format, multi-category retailing platform in Thailand. It is also growing internationally, securing leadership status in Italy and becoming one of the leaders in Vietnam. It has a network of 3,440 sales counters (as of 31 March 2022) such as department store, convenience store, specialty store, supermarket, hypermarket, and retail plaza.

Published : August 01, 2022

TK Park invites board gamers to award ceremony for game competition

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Thailand Knowledge Park (TK Park) invites board gamers and enthusiasts to the award ceremony for the “Print & Play: Play and Learn Without Borders – Season 2” board game competition on the topic of “Book on Board: Transforming a Favorite Book into an Ideal Board Game.”

TK Park invites board gamers to award ceremony for game competition

Contestants were encouraged to submit ideas for turning the content of their favourite books into an informative and entertaining board game in this competition.

Among the activities highlighted at the award ceremony are:

1. Print & Play Showcase – All ten participating teams will present their ideas and works. Attendees at the event will also be asked to vote for their favourite board game for the Popular Vote position.

2. Board Game Playground — Event attendees will be invited to play shortlisted board games and speak with Thai board game developers who will be on hand to provide an entertaining experience at the event.

3. Special Talk – Listen to a discussion on the topic “Board Games and Books on the Day of Changing Learning Environment.” Discuss changes and the arrival of board games, as well as books, that are becoming part of the learning culture.     

On August 6-7, 2022, from 10.30 am to 5.30 pm, cheer on the contestants, vote for favourite ideas, and try playing board games. The Grand Prize and Popular Vote winners will be announced on August 7, 2022, at 2:00 pm at TK Park, 8th floor, CentralWorld Bangkok. More information can be found at www.tkpark.or.th or www.facebook.com/tkparkclub.

TK Park was first opened to the public on January 24, 2005, as a creative learning organization under the Office of Knowledge Management and Development (Public Organization), Office of the Prime Minister.

For the past 17 years, TK Park has welcomed more than 1,000,000 people, with more than 500,000 books and materials checked out annually.

TK Park also collaborates with local partners and expands its unique learning centers to 30 locations in 23 provinces, more than 300 community learning centres, 76 school libraries in every province, and 20 living libraries in army camps.  

In the 17th year, TK Park is moving forward with its mission of building the future learning ecosystem by improving the availability of its services to meet the needs of young generations in the digital world, promoting good reading habits and lifelong learning.

Published : July 31, 2022

PTTEP announces significant gas discovery from its first exploration well in UAE

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PTTEP MENA Limited together with Eni Abu Dhabi B.V. announce another significant gas discovery in Abu Dhabi Offshore Block 2, paving the way to establishing a strong presence in the United Arab Emirates (UAE).  

PTTEP announces significant gas discovery from its first exploration well in UAE

Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that Eni Abu Dhabi B.V., the operator, and PTTEP MENA Limited, PTTEP’s subsidiary as the partner, have made another significant gas discovery, in a deeper zone, of the first exploration well XF-002 in Abu Dhabi Offshore Block 2.

The gas-bearing reservoirs were tested with excellent flow rates, and fast-track development options are currently under evaluation. After this well, PTTEP and Eni will continue drilling nearby prospects to further evaluate potential of the block. 

“We are delighted to announce another gas discovery in the UAE, which is one of the major discoveries that we have made in the most recent years. The combined preliminary estimated raw gas in place from the February 2022 discovery, at a shallower depth and this new discovery is 2.5 – 3.5 trillion cubic feet (TCF). We are eager to push forward the development program of the project and we believe the consortium can assemble capability, experience, and technology to accelerate field development and production to support the UAE’s gas self-sufficiency mission” said PTTEP’s CEO.


Abu Dhabi Offshore Block 2, located in the northwest of Abu Dhabi, covers an area of 4,033 square kilometres.

PTTEP and Eni were awarded Offshore Block 2 in 2019 from the Abu Dhabi National Oil Company (ADNOC) following its first-ever open block licensing round to maximize value from substantial hydrocarbon resources to increase petroleum output of the UAE. Eni Abu Dhabi B.V. is the operator of the project with 70% participating interest. PTTEP MENA Limited holds the remaining 30%.

In partnership with Eni, PTTEP presently invests in 4 projects in the UAE, namely Abu Dhabi Offshore 1, Abu Dhabi Offshore 2, Abu Dhabi Offshore 3 and Sharjah Onshore Area C. These are all under exploration phase.

Published : August 01, 2022

PTTEP announces first-half operating results of 2022 

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Based on the company’s performance, on July 29, 2022, the Board of Directors approved the interim dividend payment for the first six-month operating results at THB 4.25 per share.

PTTEP announces first-half operating results of 2022 

PTTEP revealed its first-half of 2022 operating results with an increase in average sales volume primarily from Oman Block 61 Project and G1/61 Project.

During the period, the company has accelerated the execution of G1/61 Project work plan for raising up gas production rate to ensure national energy, initiated the development of CCS project and pursued to invest in beyond E&P businesses in response to the changing industry landscape amid the energy transition and to support the Net Zero Greenhouse Gas (GHG) Emissions target. The Board of Directors approved the interim dividend payment at THB 4.25 per share.  

Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), said that after assuming the operatorship of G1/61 Project in April, PTTEP has already installed 2 wellhead platforms and laid 8 subsea pipelines. The installation of 6 more wellhead platforms is targeted for completion within this year. The company is also geared up to drill more production wells ramping up the production rate to meet the condition in the Production Sharing Contract (PSC). This will accommodate energy demand and strengthen national energy security.  For overseas operations, PTTEP successfully started oil production from Algeria Hassi Bir Rekaiz Project in the second quarter with target production volume of 13,000 barrels per day. 

In support of the company’s ambitious target to achieve Net Zero GHG Emissions by 2050 in its move toward a low-carbon organization, PTTEP has initiated Thailand’s first Carbon Capture and Storage (CCS) project at Arthit gas field in the Gulf of Thailand to reduce carbon emissions. The company expects to announce its Final Investment Decision (FID) in late 2023. 

On another front, PTTEP has joined hands with experienced Japanese partners for the study and development of CCS in other parts of Thailand. Together with PTT Group, CCS Hub Model is launched with an aim to reduce GHG emissions from PTT Group’s operations and neighbouring industries.  Furthermore, PTTEP recently collaborated with PTT Group’s members, the public sector and other private enterprises to establish “Thailand CCUS Consortium” for the study and adoption of Carbon Capture, Utilization and Storage (CCUS) for Thailand’s industrial sector. These endeavours will give concrete support to Thailand’s commitment toward Net Zero GHG emissions. 

On the progress of the Ocean for Life strategy shaping to conserve and rehabilitate marine ecosystems, PTTEP teamed up with Hydro-Informatics Institute (Public Organization) and Kasetsart University’s Faculty of Fisheries to launch the Ocean Current Mapper project to collect data for oceanic circulation, life cycles of marine life as well as trail of oceanic waste and microplastic. The data through a satellite system can also support warning systems and the study of climate impacts. The first set of buoys was launched near Arthit gas field, being Thailand’s first offshore tool for the study of oceanic currents. More buoys will be gradually launched on monthly basis until mid-2023, aiming to monitor ocean health and marine biodiversity, which is crucial for marine conservation. 

On the 6-month financial performance of 2022, PTTEP generated total revenue of USD 4,543 million (equivalent to THB 153,528 million), increasing by 28% compared to USD 3,546 million (equivalent to THB 109,658 million) in the same period of 2021. The key contributions were an improvement in average sales volume to 446,519 barrels of oil equivalent per day (BOED), an 8% increment from 413,168 BOED a year ago.  Contributions to higher sales volume were mainly from Oman Block 61 Project and G1/61 Project (Erawan, Platong, Satun and Funan fields), along with an increased selling price resulting from global crude oil price escalation.

With all the aforementioned, PTTEP recorded a net profit for the first half of the year at USD 918 million (equivalent to THB 31,119 million), a 54% growth when compared with USD 598 million (equivalent to THB 18,673 million) a year ago. The unit cost was USD 27.72 per barrel of oil equivalent (BOE), while the Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) margin stood at 76%. 

For the second quarter of 2022, the company’s total revenue was at USD 2,469 million (equivalent to THB 84,955 million) and net profit of USD 600 million (equivalent to THB 20,600 million), rising by 89% compared to USD 318 million (equivalent to THB 10,519 million) in the first quarter this year. The growth was driven by the higher average sales volume and coupled with the elevated average selling price in line with the global crude oil price.

Remittance for country development

First half of 2022, approximately THB 50,000 million was paid by PTTEP for the company’s income tax, royalties, production bonus and other remuneration. This strongly supports national development in various areas such as community, education, and research & development (R&D) funds. 

The approval of interim dividend payment at THB 4.25 per share

Based on the company’s performance, on July 29, 2022, the Board of Directors approved the interim dividend payment for the first six-month operating results at THB 4.25 per share. The record date to entitle rightful shareholders who may receive the dividend will be on August 16, 2022, and the payment date will be on August 26, 2022.

“The performance of the first half reflected the achievement of our business operations as well as social and environmental contributions as planned. During this period, the company has been exploring for investment opportunities in new businesses (Beyond E&P) in support of energy transition, enhancing competitiveness on our path towards a low-carbon organization and sustainable growth. We witnessed progress on several fronts including CCUS.  PTTEP has also started the development of a 10-megawatt solar farm at S1 Project. Harnessing power from renewable energy for the project’s internal use will help reduce carbon emissions. It is expected to be operational in the first quarter of 2023.  We are gearing up to invest more in other new businesses and we look forward to updating the progress in the near future,” Montri said.  

Published : August 01, 2022

By : THE NATION

Thailand Post issues country’s first crypto stamps

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Thailand Post began issuing its first collectible crypto stamps on Monday, Thailand Post president Danan Suphatthaphan said.

Thailand Post issues country’s first crypto stamps

The limited edition of 50,000 NFT (non-fungible token) stamps has been launched to mark the 140th anniversary of Thailand Post, Danan said.

The special stamps are a hybrid collection available exclusively at ThailandPostMart.com.

Buyers get a paper stamp with a face value of Bt140, which can be used to send parcels with Thailand Post. Each stamp is printed with a hidden code, revealed by scratching its surface. The hidden code can be used to redeem an NFT stamp, the president said.

Each NFT stamp features unique artwork and colours. All are adorned with the postal service’s logo, post box, and other symbols of Thailand Post. Leading Thai artists have given each NFT stamp a unique design to create collectible crypto items.

Danan said Thailand Post is the first postal service in Southeast Asia to produce NFT stamps, following similar initiatives by other countries including Austria, Switzerland, United Arab Emirates and the Netherlands.

Published : August 01, 2022

By : THE NATION