#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40017342

On June 30, an announcement was made on the Bitkub Facebook fan page or “Bitkub Exchange” which is managed by Bitkub Online Co., Ltd. regarding a fine penalty from the Securities and Exchange Commission of Thailand (SEC) due to a fabrication of digital asset trading volume on the exchange.

This incident occurred 3 years ago which was during the company’s early stage and the company also still lacked a thorough understanding of the newly launched regulation which is stated as follows.

“According to the Securities and Exchange Commission of Thailand (SEC)’s announcement regarding a fine penalty against Bitkub Online Co., Ltd. (“Company”) due to the market maker within the company’s exchange having conducted self-order pairing within their own trading account in 2019 which has led the public to misunderstand the market trading volume. 

The company would like to inform that the purpose of having a market maker at the time was to maintain liquidity within the company’s digital asset exchange, which has just recently opened, to be in line with the global market price. The intention was solely for the benefit of clients of the company’s digital asset exchange. According to our market maker’s investigation, the market maker only sent the trading prices in accordance with the direction of the global market price at that time.

However, after the company was informed by the SEC about the aforementioned activity, the company has investigated, suspended, and terminated the trading order of the market maker since 2019. Since then, the company has successfully developed a pairing system to forbid trade pairing from the same account in order to prevent such an incident from happening in the future.

Moreover, the company has established a Market Surveillance team to investigate any suspicious behaviors such as a self-order pairing with multiple accounts from malicious persons to assure that the exchange operates in accordance with the market mechanism under the preventive measures and the inspection of irregular trading orders. The company also regularly submits reports to the SEC. The company kindly asks our clients, investors, and stakeholders to trust and be confident in the preventive measures and inspections that we have adopted. We have taken every precaution in our business operations to prevent such occurrences in the future.

The company affirms that we have no intention to commit any illegal activities as well as we do not benefit from market maker orders. Throughout these years, the company has operated under good governance and regulation. We prioritize and uphold the benefits of our clients and investors.  In addition, we exercise maximum efforts to supervise and verify that persons involved are carrying out their duties in a prudent and lawful manner. Bitkub will continue to operate rightfully and adhere to the company’s principles in the future.”

Afterward, Mr. Sakolkorn Sakavee, Chairman of Bitkub Online Co., Ltd, published a statement on his personal Facebook account stating as follows:

“I would like to kindly clarify the issue regarding the fine penalty and a 12-month temporary prohibition from holding a management position at Bitkub Online Co., Ltd.

The fine penalty was based on an action in 2019 which occured 3 years ago. The SEC visited and inspected Bitkub Online after having been granted with an operating license. During that time, there were only three Thai exchanges present, composed of BX, Bitkub, and Satang Pro.

During that period, the cryptocurrency industry was new in which all three of these companies had just recently been granted operating licenses. I believe that the majority of cryptocurrency exchanges around the world at the time commonly adopted a system of fabrication trading volume for digital assets. This has led to mistakes and a lack of thorough understanding of the rules by both Bitkub and Satang Pro (not to mention BX because it is already closed).

When we were warned and asked to stop by the SEC, we accepted and have stopped this action ever since. A system has been installed swiftly to prevent price matching of orders sent from the same account, and a Market Surveillance team had been established promptly to monitor any malicious activities such as self-order parining from multiple accounts.

One thing that I strongly believe is that the SEC’s decision to impose a fine penalty and bring this matter after 3 years of the incident occurred is to enhance stricter governance.

I hope that this good standard does not specifically target some exchange platforms like Bitkub or Satang Pro but rather inspects every operating licensed exchanges. For transparency, I believe that other companies would welcome the SEC’s inspection as well.

From then to now, 3 years have passed, I would like to reiterate that Bitkub has never fabricated trading volume in the market ever since. The company’s income and taxes from the previous year should serve as strong evidence to support this statement.

I am still fighting and generally looking over Bitkub Group as before. There are still many scopes of improvement for Bitkub. I hope everyone can understand and continue to believe in Bitkub.”
 

Published : July 04, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40017338

Thailand’s top mobile service provider, Advanced Info Service (AIS), has announced that it is expanding its network by purchasing Triple T Broadband Plc and a stake in an infrastructure fund for 32.42 billion baht.

AIS informed the Stock Exchange of Thailand on Monday that it will purchase 7.52 billion shares in Triple T from Jasmine International (JAS) for 19.50 billion baht.

This acquisition will also give it control over Triple T Internet, Incloud and 3BB.

AIS will also purchase a 19 per cent stake in the Jasmine Broadband Internet Infrastructure Fund for 12.92 billion baht at 8.50 baht per unit.

“This investment will help boost the business value of AIS as well as provide long-term benefits to consumers, society and shareholders,” AIS said.

The company expects the transactions to be completed within the first quarter of 2023 after it has gained permission from the National Broadcasting and Telecommunications Commission.

AIS said this acquisition is in line with its strategy to expand growth in the internet business and boost the efficiency of the fibre-optic cable network in Thailand. The company added that it will continue paying dividends of at least 70 per cent of its net profits to shareholders.

Observers believe AIS, whose major shareholders include Temasek Holdings, is making this move over fears of being toppled over once the True-Dtac merger goes through.

Published : July 04, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40017241

Amid global economic recession and rising inflation, the financial industry is undergoing a digital transition affecting both strategy and services. Krungsri Consumer, Thailand’s leading credit card and personal loan operator, is also planning digital-friendly changes to its organisation and services.

Nayanee Peaugkham, Chairwoman of Krungsri Consumer, told Krungthep Turakij newspaper that the company will boost its competitiveness over the next three years using five strategies: Providing financial products and services for modern lifestyles, using the latest innovations to increase productivity, building a digital finance ecosystem with partners, finding new sources of income, and ensuring personnel are ready for modern world.

Digital trend in financial products

“Due to Covid-19, more consumers are shifting to digital services, as shown by Krungsri Consumer’s credit card spending in early 2022 with year-on-year growth of 19 percent for online shopping and 72 percent for food delivery via apps,” said Nayanee. “Hence, Krungsri Consumer aims to enhance our service by offering attractive promotions to boost online spending, and improve our digital services to facilitate the rising number of digital channel users. We are also emphasising data analysis to identify consumer needs and develop products and services that respond to their changing lifestyle.”

Nayanee added that the company’s XU virtual credit card registered spending of over 44 million baht from February-May 2022, while the Krungsri Now credit card saw 300 million baht in spending from November 2021-March 2022 among 25,000 cardholders. Meanwhile, the UCASH digital lending service on the company’s UCHOOSE app recorded 29.5 billion baht in lending from over 3.69 million transactions between June 2021 and May 2022. “This indicates that the trend for digital financial services is rising, and consumers are responding positively to our new products,” she said.

Building digital ecosystem

“Krungsri Consumer is investing to develop a digital ecosystem in preparation for rising competition in the next three years,” said Nayanee. “We are using data analysis systems to understand consumers’ behaviour and design products and services that can better serve their needs. We also use AI (Artificial Intelligence) in new marketing campaigns and employ RPA (Robotic Process Automation) in our work process to increase efficiency.”

Nayanee added that the company’s UCHOOSE app can gather customers’ data and analyse their preferences to select suitable products and services to promote. “The application not only allows customers to easily access our latest products and services via mobile application, but also offers convenient card application process via digital channels. It also helps facilitate our business partners to offer special deals on their products, as well as installment plan on selected items, providing more options to customers.” she said. “Apart from UCHOOSE app, consumers can also access our latest products and services conveniently via new digital channels such as Line official account, and Facebook.”

Besides building a digital ecosystem for its business, Krungsri Consumer is also cooperating with other business units under Bank of Ayudhya under the policy of “Krungsri One Retail”, in which different units are encouraged to work together to develop better products and services for customers. “We are also committed to expanding our consumer finance business to other markets in the region such as Laos, Cambodia, the Philippines, and Vietnam after the bank recently acquired SHB Finance ,” she added.

Seeking more partners in digital lending

For the second half of this year, Nayanee said the company is planning to launch more digital lending services with several partners, aiming to increase access to personal loan for customers in wider groups.

“We believe that digital lending will be the key business opportunity for Krungsri Consumer in the second half of 2022, with estimated turnover from digital lending at 50 percent of total lending within the next three years,” she said. “As the Covid-19 situation is improving, people will need cash to increase their liquidity for economic activities, so we will be providing loan services that are fast and convenient for all. Krungsri Consumer is also planning to launch the ‘Buy Now Pay Later’ service via the application by year-end, which will offer even more choices for hire purchase consumers.”

As for finding new sources of income, Nayanee said that Krungsri Consumer plans to explore areas in which it already has expertise, such as debt collection, to create a service with a help of new business partners, also expected to be launched later this year.

Reopening Thailand will fuel credit card, lending expansion

“Rising inflation and global oil prices could limit Thai people’s spending in the rest of the year, but we are still confident that the reopening of the country after over two years of Covid-19 shutdown will attract foreign tourists and boost Thailand’s economy,” said Nayanee. “Since the relaxation of Covid-19 restrictions, credit card spending has increased continually. In the first five months of 2022, Krungsri Consumer recorded a 12 percent increase year on year in credit card spending and a 14 percent increase in new loans. Food delivery, online shopping and inter-spending are among the categories with significant growth.”

Meanwhile, non-performing loans (NPL) are at 1.1 percent for credit card loans and 2.5 percent for personal loans, which are lower than the loan business average.

“For 2022, Krungsri Consumer is targeting 312.3 billion baht in credit card spending, or a 10 percent rise , and 84.6 billion baht in new loans, or 11 percent increase, compared to prior year. Total outstanding loans will be at 149.6 billion baht, increasing 7 percent year on year,” added Nayanee.
 

Published : July 04, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40017322

Drivers of electric vehicles will have to start paying a fee to charge their batteries at PTT EV stations from next month.

The EV Station PluZ, which operates PTT EV stations under PTT Oil and Retail Business Plc, announced that EV users will be charged based on time of use (TOU) from August 1 following the free trial period.

The on-peak TOU rate from 9am to 10pm will be 7.5 baht per unit of power while the off-peak rate from 10pm to 9am will be 4.5 baht.

The off-peak rate will extend for 24 hours during weekends and government holidays, EV Station Pluz announced.

To book charging time at a PTT EV station, motorists must download the EV Station PluZ app. Each booking costs 20 baht but this fee is returned as a discount if motorists use the service within 10 minutes of booking.

PTT president and CEO Auttapol Rerkpiboon said the free trial period at PTT EV stations was expiring so fees will have to be collected.

He said that PTT OR currently has about 190 EV stations across the country but this will be expanded to 450 by the end of the year.

Published : July 03, 2022