The Federation of Thai Industries (FTI) recently announced its aim to move all plants and factories in the country to environmentally friendly industrial estates by 2024.
Kriengkrai Thiennukul, chairman of FTI, said this was part of the plan to take Thailand’s industrial sector to a level where factories, communities and the environment can coexist harmoniously.
The chairman was speaking at a memorandum of understanding (MoU) signing ceremony in Bangkok on Friday with relevant ministries.
FTI signed an MoU on the industrial sector going green with the ministries of Interior, Industry and Natural Resources and Environment.
The signatories also included the Department of Local Government Promotion and 39 provincial authorities.
The effort was inspired by the Industry Ministry’s plan to create industrial estates that are sustainable and can prosper without harming local communities.
Kriengkrai said some 380 companies, both FTI members and non-members, have shown interest in the “going green” option. He said he expects all 14,000 FTI members nationwide to become part of the effort by 2024.
Wanchai Phanomchai, director-general of the Department of Industrial Works, said his department will promote the upgrading of industrial plants to become 100 per cent green. It will also work towards meeting the corporate social responsibility standards in at least 40 per cent of the target area under the government’s 20-year national strategy.
“Eco-friendliness is a global trend, and Thailand needs to be part of it,” Wanchai said. “This will not only make local manufacturers acceptable internationally but will also add more value to sustain our industrial sector.”
Chulapong Taweesri, the Industry Ministry’s deputy permanent secretary, said more eco-industrial estates are proof of a country’s development. However, he said, transforming the industrial sector cannot be done without collaboration from related parties, especially local communities. This is why, he said, 39 provincial governors were invited to sign the pact.
“They are key to taking action. By the end of this year, there will be 54 areas in 39 provinces joining the first phase of the eco-industrial estate process,” he said.
Chulapong said there are five steps to transforming the industrial sector. They are: getting involved, showing support and taking action, maximising resource efficiency, plants and communities becoming interdependent, and lastly, businesses, people and the environment living in harmony.
Banpu NEXT, a leading Smart Energy Solutions provider in Asia-Pacific, on Thursday announced its collaboration with Cherdchai Motors Sales, the largest bus operator in Thailand, and Durapower, a global leader in performance lithium battery storage solutions, to set up lithium-Ion battery plant in Thailand.
Due to become operational in early 2023, the new battery assembly plant will produce battery systems for Cherdchai’s e-Buses and to capture opportunities in the growing market for electric vehicles (EVs) across Asia-Pacific with a plan to expand its production capacity to 1 GWh by 2026.
The collaboration brings together leading names from three industries who share the vision to align their growth with business of the future and global trends, especially electrified mobility and decarbonization. The e-Bus market in Asia-Pacific was valued at around US$40 billion in 2021 and is expected to grow at a compound annual growth rate of 13.52% to US$84 billion by 2027*. In the meantime, growth opportunity is foreseen in the market for batteries as a core system of electric vehicles. By setting up a battery assembly plant, this collaboration will play a key role to support Thailand’s ambition to rise as an EV production hub. To be located in Nakhon Ratchasima, it will engage in lithium-Ion battery production on behalf of Durapower with world-class quality standards across battery performance and safety. Assembly will expectedly begin in early 2023. Products from this plant will be engineered to support fast charging and offer high storage capacities to maximize the driving range of Cherdchai’s e-Buses and address battery demands in all EV segments in Thailand. By 2026, the collaboration’s production capacity will be boosted to 1 GWh to support its plan to export to overseas markets across Asia-Pacific.
Mr Sinon Vongkusolkit, Chief Executive Officer of Banpu NEXT Co., Ltd., said, “Banpu NEXT drives businesses towards the future of sustainable energy in alignment with the ‘Greener & Smarter strategy of our parent company, Banpu PCL. This partnership will strengthen our business ecosystem and support expansion of the three businesses in Banpu NEXT’s portfolio: Battery, e-Mobility and Smart Energy Solutions, such as Smart Energy Generation Solution or solar power systems. We will explore opportunities to integrate these battery systems into our Smart Energy Solutions, including Mobility as a Service (MaaS) platform for buses and EV fleet management. Moreover, we will explore future opportunities to introduce them to other market segments, such as energy storage for solar power systems and EV charging stations, as well as to expand the battery business to overseas market.”
Dr Assanee Cherdchai, Chief Executive Officer of Cherdchai Motors Sales Co., Ltd., said, “Thailand’s EV market is on an uptrend. Combined with surging fuel prices and the rise of environmental sustainability as a megatrend, we decided to form a strategic partnership with Banpu NEXT and Durapower to tap into the e-Bus market, build sustainable growth and expand our customer base through business diversification. Under this collaboration, Cherdchai will top up our 64 years of engineering expertise in bus assembly with addition of lithium-ion battery technology from the partners to manufacture e-Buses for our own fleets and our customers, including government agencies and bus companies. Customers will have peace of mind from our after-sales service, and they can also look forward to our next plan to set up bus charging stations.”
Mr Kelvin Lim, Chief Executive Officer of Durapower Group*, said, “Headquartered in Singapore, Durapower specializes in design, production and installation of energy storage systems (ESS) for electric mobility, maritime equipment and renewable energy applications. Since 2009, Durapower has been a leading innovator of Lithium-Ion cell technology, focusing on the research and development of battery materials, battery cell manufacturing and system integration. Our extensive customer base currently spans across China, Europe and Asia-Pacific, and this collaboration reflects Durapower’s commitment to continuing expansion to bring high-quality battery systems to customers across the globe. Our strategic partnership with Banpu NEXT and Cherdchai Motors Sales enables our quick and efficient entry into the Thai market and expansion across the region. As part of this partnership, Durapower will supply battery cells and modules as well as related parts and components including battery management system (BMS), and also license our technology for the assembly of battery systems for various market segments, including energy storage systems (ESS), marine applications, passenger cars, two and three-wheelers, buses and heavy commercial EVs. With Durapower’s advanced technology and production support, battery systems from this plant will boast high storage capacities to provide maximum discharge time and driving range in addition to fast-charging, lightweight designs, and high safety standards.”
“The collaboration will be another solid support, coinciding with the government’s policy to promote production and adoption of zero-emission vehicle (ZEV) as Thailand makes its transition into next-generation automotive industry and also help drive the country’s evolution into a low-carbon society,” Mr Sinon concluded.
Global medical technology company B. Braun launches Technical Service Center to provide quality-driven medical equipment repair and maintenance services to support the Thailand public health system
B.Braun Thailand, the world’s leading manufacturer and distributor of medical devices, recently inaugurated the “B. Braun Technical Service Center”, which will provide high-quality medical equipment repair and maintenance services. The newly launched centre aims to support the public health system of Thailand in ensuring that it will be able to provide seamless healthcare support to its citizens. The centre also aligns with B. Braun’s vision to protect and improve the health of people around the world.
Leveraging the power of technology to advance healthcare
The B. Braun Technical Service Center, which is strategically located in the heart of Bangna District and can easily be accessed from within and outside Bangkok, is the latest medical equipment maintenance service centre developed to help solve the current health challenges in Thailand. The centre offers European-standard solutions to help ensure that the medical equipment serviced will operate at optimum levels, covering three main treatment areas including Hospital Care, Aesculap, and Avitum. The centre will provide maintenance support to medical devices at hospitals including Infusion Pump and Surgical Treatment Devices such as power systems for orthopaedic and spine surgeries, as well as Kidney Treatment Devices such as dialysis and hemodialysis machines.
The skilled technicians at the B. Braun Technical Service Center have extensive working experience in hospitals and are well-equipped to handle various medical devices. All technicians are also certified by
B. Braun and the certification is renewed every two years to ensure all technicians are up-to-date on the latest products available in the market. The service centre offers only genuine parts from B. Braun, with technical standards of IEC 62353 for the safety and effectiveness of the repaired or used medical electrical equipment and IEC 60601 for new equipment. This ensures that the medical devices are standardized, accurate and of high quality.
“Having people who believe in continuously improving the healthcare system and maintaining high-quality medical equipment is essential.”
B. Braun is committed to develop and advance medical devices to support the needs of the citizens of Thailand and to help improve their health. The advancement of healthcare is an ongoing effort and the need to constantly innovate and improve these systems is crucial.
Mr. Sayan Roy, Managing Director, B. Braun (Thailand) Ltd. said, “WHO estimates that around 50% of medical equipment in developing countries is not functioning, not used correctly or optimally, and invariably not well maintained. A strong public healthcare system that contributes to the well-being of the people like in Thailand, requires high-quality medical equipment and maintenance systems. Most of the regular servicing and repairs can be handled by hospital-based staff but some technical repairs need the company’s technical know-how. B. Braun is committed to supporting and improving people’s health through our innovation and high-quality maintenance services. Furthermore, having such a technical centre in Thailand will significantly reduce the service turnaround time and increase efficiency in supporting the customers’ needs.”
Beyond the main role of maintaining and repairing medical equipment, the B. Braun Technical Service Center team is also committed to work with their partners to support and improve the operation of the public health systems. B. Braun is also partnering with Chulalongkorn Hospital to provide a paperless data transmission system, which allows medical and nursing staff to view and print out data directly from the hospital’s data centre. This will help eliminate the walking time that staff usually need to retrieve info from the device. We are also partnering with Chulalongkorn Hospital and Walailak University Hospital to build a data collection system, which allows hospitals to integrate information from different medical devices. This program will help increase the efficiency of the medical staff.
Mr. Thanormsak Chodchoung, Technical Service Manager at B. Braun (Thailand) Ltd. said, “Our strength lies in a team of skilled technicians and a maintenance centre with a proportional space conducive for work efficiency. We offer a state-of-the-art maintenance tracking system that provides customers with reliable access to information. Our team continues to enhance our service offerings by working closely together with our customers. Recently, we invested in an additional power system to support a reduction in equipment shipping time for repairing abroad.”
“B. Braun offers high-quality after-sales services that truly understand medical equipment users. B. Braun Technical Service Team brings consulting advice and solutions to our concerns without any delay,” said Mr. Jirach Siriprompatr, Biomedical Engineer, Rajavithi Hospital.
About B. Braun
B. Braun was established in 1839 in Melsungen, Germany, and currently employs more than 66,000 people in more than 300 offices in 64 countries around the world. The B. Braun product range comprises 5,000 medical and pharmaceutical products and solutions, 95 per cent of which are manufactured by the company.
About B. Braun (Thailand) Co., Ltd.
B. Braun established a branch office in Thailand in 1989, starting with the main business of sutures, disposable medical equipment and pharmaceuticals. The company is committed to delivering effective and advanced healthcare solutions, through numerous therapeutic areas, which were designed to support doctors and nurses in hospitals and clinics across the country for various treatments such as dialysis, cardiothoracic surgery, spine surgery, laparoscopic surgery, general surgery, interventional cardiology and medical disposables and equipment for ICUs and wards.
For more information about B. Braun, visit http://www.bbraun.co.th or follow Facebook and YouTube.
The merger of telecom players True and DTAC is a mutual collaboration in the best interests of Thailand’s telecommunication sector and is not a takeover for one company to have control over the other, a top executive said on Friday.
Suphachai Chearavanont, CEO and executive chairman of conglomerate Charoen Pokphand Group (CP), True’s parent company, told a press conference that the merger process between True and DTAC is still pending approval from the National Broadcasting and Telecommunications Commission (NBTC).
Since this type of agreement is an eco-partnership in which both True and DTAC would hold an equal 30 per cent stake, the laws already state that the NBTC has no authority to suspend the deal and can only create a list of conditions to ensure the deal benefits the public the most, Supachai said.
He added that if the deal is considered a takeover, the NBTC can legally suspend it. True and DTAC, on the other hand, have agreed to share the best of their infrastructure, resources, and talents to transform into a technology telecommunications company. Hence, it is a merger and acquisition rather than a takeover, he said.
Supachai added that the new board of the NBTC has just been appointed, so they need some more time to consider the True-DTAC deal. However, he pleaded with the board to move quicker. Besides, he expressed his readiness to cooperate with the NBTC and be a part of their process to create the conditions for this merger and acquisition.
Supachai also updated on the working process between True and DTAC. He said all the documentation process had already been finished in January this year. The path of cooperation between the two companies is very progressive.
The regulations and regulators are the only hurdle to concluding the deal right now, he said.
“I confirm that our merger and acquisition is required to maintain our best competitiveness in this digital landscape. Our cooperation will support the growth of Thailand’s telecommunication industry, support equality, improve sustainability and transform the country to be the digital hub in this region,” said Supachai.
Meanwhile, Sigve Brekke, president and CEO of Telenor Group, the parent company of DTAC, added that Thailand has great potential to be the champion of the digital industry in Southeast Asia.
There are strong supportive measures from the government, an active private sector and enthusiastic online adoption of mass local users, Brekke said.
Unfortunately, when it comes to innovative technology and new venture capital for startups, Thailand still lags regional countries like Vietnam and Indonesia.
Brekke pointed out that startups will be a key factor in driving Thailand’s digital industry and also strengthening Thailand as a regional innovation hub. Therefore, the cooperation with True will provide more funds and resources to groom these startups.
“We will set-up a 7.3-billion-baht VC [venture capital] fund and establish a telco technology-focused innovation centre that will identify strong startup opportunities and support entrepreneurs throughout the journey of creating successful regional businesses,” said Brekke.
He said he was confident that together with True, Thailand can improve its potential to become a technology powerhouse in the future.
Subcommittees appointed by the National Broadcasting and Telecommunications Commission (NBTC) to consider the proposed merger of True Corporation and Total Access Communication (DTAC) have voted against the corporate amalgamation of the mobile network operators.
The four subcommittees voted 3-1 to oppose the merger plan, an informed source disclosed on Friday. However, they were afraid that their resolution might be distorted in a report submitted to the NBTC executive board, which could result in the proposed merger getting the green light, according to the source.
The panels of consumer protection and civil rights, economics, and technology voted against approving the merger, while the law panel voted for it, the source said.
The three panels argued that the merger would have a negative impact on the telecom market and deprive consumers of choices, which could result in pricier service fees.
On April 29, the NBTC resolved to set up four subcommittees to vet the planned True-DTAC merger in the fields of consumer protection and civil rights, law, technology, and economics.
The new panels replaced a subcommittee previously set up by the former NBTC board in February to scrutinise the merger plan.
The four panels held their meetings separately and submitted separate reports to an NBTC working group tasked with making a suggestion to the executive board regarding the matter.
Some subcommittee members were worried that their resolution could be ignored and the arguments in favour of a merger might be highlighted at the cost of the cons, according to the source.
The NBTC board is expected to convene on July 26 or 27, before the start of a long holiday period, the source said.
Digitalize processes for frontline workers using AR solutions, tapping into the realm of the industrial metaverse in Thailand market
Bangkok, Thailand July 12, 2022 – TeamViewer, a leading global provider of remote connectivity and workplace digitalization solutions, on the auspicious occasion to organise the TeamViewer Augmented Reality Experience Day in Thailand has revealed its business plan to support key industries in accelerating the digital transformation and enable them to improve productivity and efficiency.
Starting with remote access and IT support software in Germany in 2005, TeamViewer has become a global technology company that enables companies of all sizes and from all industries to digitally transform their businesses and optimize processes with innovative technologies. TeamViewer’s enterprise remote connectivity solutions enable businesses not only to manage their entire IT infrastructure and office devices, but also to remotely connect and control operational technology (OT) equipment or embedded devices.
The company’s product portfolio now ranges from remote access and support tools to managed enterprise connectivity and solutions for the digitalization of industrial business processes based on Augmented Reality.
Over the past years, TeamViewer has not only broadened its solution portfolio, but also expanded its presence around the globe including in the APAC region, opening offices in India, China, Japan and most recently Korea. Thailand, the 2nd largest economy of the ASEAN Region has transitioned its focus from being an industrial economy to a digital economy, following the widespread proliferation of the internet and Thai Government’s aggressive push towards digital transformation.
Thailand’s information technology (IT) market will grow more than 13 percent year on year and will worth Bt527 billion by the end of this year. The key issue enabling growth is the flow of digital use in all industries, the services sector, and the growing tendency for digital usage in all sectors, including social platform, cashless society, blockchain, chatbot, programmatic, and video clips including 3D, augmented reality and virtual reality.
Thailand is one of the top three countries behind Singapore and Malaysia at a stage of development for the fourth industrial revolution (4IR) readiness in the areas of technology and innovation, human capital, global trade investment, institutional framework such as government policy and support, sustainable resources and environment. One of the five key technologies that help the manufacturing sector adopt and transform into 4IR is wearable augmented reality and virtual reality.
Over the last three years, TeamViewer invested significantly in the area of Augmented Reality. We now offer a leading enterprise AR platform that offers a comprehensive set of capabilities around Augmented and Mixed Reality and we recently added even AI features. Therefore, we see ourselves as a major driver of the industrial metaverse with lots of valuable solutions. One example is TeamViewer’s usage in training scenarios in the automotive industry. New employees learn – using mixed reality glasses like the Microsoft Hololens and TeamViewer’s spatial capability within our Frontline platform – how to inspect and repair cars, seeing a 3D hologram with instructions on top of the real car.
Digitalizing Processes for Frontline Workers with Industrial AR Solutions and Optimizing IT/OT Management with Remote Connectivity
TeamViewer offers the enterprise AR platform TeamViewer Frontline that enables companies to digitalize processes for frontline workers at the shopfloor using software running on smart glasses and mobile devices. TeamViewer Frontline offers the easy creation of step-by-step guided workflows as well as precise and reliable remote troubleshooting and contextual knowledge sharing via a shared camera stream and AR annotations. It includes ready-to-deploy solutions for order picking, assembly, quality assurance, maintenance and inspection, training, and remote assistance while being highly customizable.
APAC President Sojung Lee explained the emerging need for an industrial metaverse along with the TeamViewer vision. Sojung Lee said, “Digital technologies like remote connectivity and Augmented Reality will shape the future workplace. The ‘industrial metaverse’ is already the next step in the convergence of physical and digital realms.” Lee added, “We see great potential for Thailand where the digital transformation of organisations is being accelerated in a broad range of industries. In Thailand TeamViewer will focus on driving its remote connectivity and Augmented Reality (AR) solutions for companies of all sizes in any industry, helping them achieve digital transformation across the entire value chain. The expansion of TeamViewer in the Thai market, which has high growth potential and strategic importance, is one of the company’s key initiatives to strengthen its APAC footprint and we will also focus on establishing a strong ecosystem with local alliances, including channel partners, distributors.”
Apart from growing its business, Minor Food Group Public Company Limited has also been focusing on social and environmental responsibility. In line with global eco-friendly trends and a push for clean energy initiatives, the company is also working on reducing its carbon emissions.
As the first move toward a greener future, the Pizza Company 1112 began using electric motorcycles as part of its “Green Delivery” initiative. Now, pizza and other delicacies will be delivered to customers on “green” electric bikes, so everybody has a hand in saving the world.
The first phase will pilot in Bangkok and expand nationwide in keeping with Minor Food’s commitment to cut down CO2 emissions by 700,000kg in the next five years.
Kitticharn Kongpan, assistant VP of delivery operations, said the Pizza Company has been in the food and service business for more than two decades now, offering delivery services to customers. The strength of the business is its fast and reliable delivery business, which has won over consumers all these ears. At the same time, the company is committed to giving back to society via its environmental and social responsibility as well as ESG values. Responding to a global environment trend, the company is on track to carbon neutrality and has set a goal to achieve Net Zero by 2050.
“To reduce pollution, the company recently launched ‘Green Delivery’, in which only electric motorbikes will be used. The Pizza Company is the most successful in food delivery and has generated more than 2 billion baht in sales through the food delivery channel. The project also aims to increase efficiency and to reaffirm Minor Food’s commitment to reduce 700,000kg of CO2 emission in the next five years, as well as respond to the government’s clean energy initiative to reduce environmental impact,” he added.
“The electric motorcycles that we will use to deliver our food have been designed and manufactured by Storm [Thailand], a well-recognised electric bike company focusing on reducing pollution. We will use these electric motorcycles to deliver food from Minor Food restaurants so we can transition from fuel to clean energy which is more environmentally friendly. Food delivery using electric motorcycles will begin in Bangkok, and we plan to expand to other areas in the future to cater to our consumers. We will also introduce other environment-friendly initiatives in our delivery and other aspects of our business so we can become a leading organisation that cares about the environment and clean energy for a sustainable future,” Kitticharn said.
Patt Pongwittayapipat, general manager of 1112 Delivery, said: “The design of the Pizza Company electric motorcycles ensures efficient delivery with durable battery life to allow them to run a long distance. From our test, each electric motorcycle can deliver 14 orders per charge, or run 120 to 150km, and there is a backup battery so the rider can switch to a new one without waiting for a recharge. Additionally, the size of the vehicle is designed to perfectly suit the food box in the back to ensure convenience and ease of use when our riders are on the road. We also offer roadside assistance in case of emergency. We are ready to offer a sustainable option in food delivery for our customers, focusing on the efficient use of resources. We also improve our logistic technology based on sustainability as our priority is social and environmental sustainability while also taking care of our consumers,” Patt said.
“Using electric motorcycles for delivery not only reduces carbon emission but also allows our consumers who order food via our delivery service to contribute to sustainability. At the same time, it helps our riders reduce their fuel expenses by switching to a rechargeable battery. Electric motorcycles are also easier to maintain,” he added.
For more details, contact Line: Thepizzacompany1112 and Facebook: The Pizza Company 1112 Lovers.
Thailand has reported the fastest growth in terms of number of stores among 10 countries where it operates, MR DIY’s (Thailand) chief executive officer, Andy Chin, said.
Home improvement retailers MR DIY celebrated the grand opening of their 500th branch in Thailand at Lotus’s Bangkapi branch in Bangkok on Thursday.
Chin said that the number of stores in Thailand has grown by 40 per cent year on year, as the company had opened 120 stores last year.
He said that there are 500 stores in Thailand, accounting for 25 per cent of 2,000 total stores. He added that the Thai market is significant as the country’s population is twice that of Malaysia.
Chin said the company has set a target to open 150 branches in 2022 and has already opened 90 stores this year. He expected to create around 2,000 job opportunities from 150 new branches.
He expected that there would be 50 million customers through all stores in Thailand this year.
He speculated the growth rate would be the same for the next 2-3 years. He also expected to reach 1,000 stores in Thailand within four years.
Chin also discussed the store’s business tactics. He mentioned that all stores are directly owned by the company, not franchisees, to maintain consistent products and services.
He said that the company‘s three key points are store distribution strategy, product variety, and low price.
He revealed that the store’s customers spend only around 220 to 250 baht on average but they come frequently. They might come to buy one thing but end up buying several products.
Chin said that the company also faced economic challenges but the company is in a better position to overcome them than others. He said the company has a large presence with 2,000 stores and suppliers prefer to deal with larger retailers.
Moreover, its business model is attractive to customers as the company offers low-priced products of good quality.
Chin revealed that the store is using data management and technology to deal with inventory problems at 500 stores in Thailand.
MR DIY started as a consumer hardware store in Kuala Lumpur in July 2005. It expanded into Thailand in 2016. It is offering 18,000 products in 10 categories through 500 stores in Thailand.
MR DIY is celebrating its grand opening activities from July 21 to 24 at Lotus’s Bangkapi and offers nationwide promotion until July 31. Visit its website https://www.mrdiy.com/th/ for more information.
The Securities Exchange Commission (SEC) on Thursday demanded a clearer explanation from Zipmex Thailand following its two-hour suspension of service on Wednesday night.
The SEC said it had issued a letter on Wednesday demanding an explanation after Zipmex Thailand announced on its Facebook page that the withdrawal of both cryptocurrencies and baht could not be done from 6pm to 8pm.
The SEC said it had received a letter from Zipmex Thailand on Thursday, explaining the issue. However, the SEC said the explanation still lacked important information for the commission to consider.
“As a result, the SEC sent another letter to Zipmex asking for comprehensive details, including information on its customers’ digital assets,” the SEC said in a statement.
Zipmex Thailand CEO Akalarp Yimwilai has explained in a statement that his trading platform had to be suspended for two hours to disable the ZipUP+ product of its partner, Zipmex Global, after Zipmex Thailand’s customers could not withdraw money from Z Wallet of ZipUp+.
Akalarp said the suspension was needed to maintain the stability of the trading platform and to prevent more damage.
He said that Zipmex Global has deposited in Babel Finance and Celsius, who suffered a liquidity crunch, affecting the accounts of ZipUp+ via Zipmex Thailand in a chain reaction.
The SEC added in the statement that Zipmex Thailand must show evidence of depositing customers’ money via ZipUp in other platforms, especially Celsius and Babel Finance.
Akalarp denied that damage to its customers had amounted to 5 billion baht as reported by some online media but he declined to give an exact amount.
The SEC also added in the statement that Zipmex Thailand must provide trading service as normal and must provide a service for customers to call and file complaints about their damage. Zipmex Thailand must handle the complaints with efficiency, the SEC added in the statement.
Akalarp said in his statement that Zipmex Thailand is willing to organise a class action lawsuit against Zipmex Global, Celsius and Babel Finance for the return of money of its customers. Zipmex Thailand would shoulder the lawsuit fees, he added.
The baht opened at 36.78 to the US dollar on Friday, strengthening from Thursday’s close of 36.87.
The currency is expected to move between 36.65 and 36.90 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.
He said the baht’s weakening may slow down as the dollar is weakening. Though the Thai currency could still weaken if the market moves to a risk-off state as the baht recently went past its resistance level from 36.70 to 36.80 to the dollar.
Poon said the baht could weaken and test the level of 37 to the dollar if the greenback strengthens when the market is in a risk-off state or if China enforces lockdown measures, which will encourage investors to sell off assets in Emerging Asia markets.
Investors, however, may sell gold once it rises close to its resistance level from US$1,730 to $1,750 per ounce after some investors bought the metal when the price had dropped.
These transactions may slow down the baht’s weakening.
He added that foreign investors may also start buying Thai stocks again as the market is in a risk-on state.
He also advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.
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