Tag Archives: business

The First Peer-to-Peer(P2P) Lending of Thailand By AQUA & NEWS

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https://www.nationthailand.com/business/40016514

AQUA Plc has joined with News Network Corporation (NEWS) to launch Thailand’s first peer-to-peer (P2P) lending platform, the two companies announced on Friday.

The First Peer-to-Peer(P2P) Lending of Thailand By AQUA & NEWS

The platform will provide smart financial solutions, from borrowing to lending, for individuals and small and medium-sized enterprises (SMEs).

Speaking at the press conference in Bangkok on Friday, AQUA managing director Chaipipat Kaewtrairat said the platform will address a pain point in the credit industry where SMEs and individuals who don’t have many assets are unable to borrow from traditional banks.

Fintech was the solution to this problem of credit inaccessibility for small operators in society, he said.

“Fintech is a global megatrend that is growing exponentially around the world as this innovation serves people’s personal loan needs. We see it as a lending system that can help solve problems for those who are rejected by banks and major financial institutions. It will also reduce Thai people’s dependence on the informal loan system,” said Chaipipat

AQUA has collaborated with NEWS to establish the Peer For All (PFA) company to operate the P2P platform, with a license from the Bank of Thailand. The project is worth 500 million baht, with 60 percent of investment coming from AQUA and 40 percent from NEWS.

PFA holds the management rights for Nestifly Plc, which operates a P2P lending platform via the ShareLoan application. The platform is expected to generate loans totaling around 3 billion baht in the first year of operation, reaching 10 billion baht within the next three years.

Chaipipat added that in the first phase, the platform would target borrowers who own securities as assets. The next phase would be to accept other collateral assets such as vehicles, property and housing, he said. The platform also expects to offer unsecured loans for people with no assets or credit but with data to prove creditworthiness.

Shine Bunnag, (acting) president and director of AQUA, said the first and only P2P lending platform in Thailand will be available by the fourth quarter of this year.
The platform and its blockchain technology are now being tested while talks are underway to secure Liberator Securities Plc as its legal custodian.

“This is a new type of borrowing that will replace the familiar borrowing from commercial banks and financial institutions,” said Shine. “Nestify is the first such operator in Thailand to be granted a business licence. We want Peer for All to help solve financial problems for Thai people in the long run.”

Shine is also CEO of Nation Group.

Kritsada Pruitipat, CEO and director of NEWS, said he was very satisfied with the AQUA collaboration.

NEWS is currently undergoing organisational transformation to boost stability and long-term expansion.

“NEWS is now expanding its fintech business to offer investment services including via securities brokerage firms and securities companies. Liberator Securities Plc, which is an indirect subsidiary of NEWS, is now in the final stages of meeting legal requirements of the Securities and Exchange Commission (SEC) and related agencies to be able to fully engage in the securities business and provide investment services to the public,” said Krisada.

Paphon Mangkalathanakun, CEO and co-founder of Nestifly, said individuals and SMEs were underserved by mainstream banks. Hence, the P2P lending platform will be an alternative credit service provider with low-risk collateral securities.

“With blockchain technology and smart contracts, the platform can effectively secure each transaction from fraud and default. It will also fully protect personal data, meaning users will feel confident in our security,” said Paphon.

Published : June 10, 2022

By : THE NATION

Big jump in secondhand housing units up for sale

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https://www.nationthailand.com/business/40016525

The number of secondhand houses offered for sale jumped by over 20 per cent in the first quarter of this year from the same period last year, the Government Housing Bank’s Real Estate Information Centre (REIC) reported on Friday.

Big jump in secondhand housing units up for sale

An average of 137,957 pre-owned housing units per month were advertised for sale for the average combined price of THB938 billion in the first three months of 2022, the REIC said.

Those monthly numbers represented a 20.2 and 25.1 per cent increase, respectively, when compared to the same period last year, which saw a monthly average volume of 114,794 units and a monthly average value of THB749.6 billion, according to the centre.

However, there was a slight decline when compared to the fourth quarter of 2021, when 145,753 pre-owned housing units were offered for sale per month for an average monthly value of THB990.2 billion.

The REIC data were collected from state financial institutions, public asset management companies, Legal Execution Department, and websites specialising in secondhand housing units, such as Taladnudbaan.com.

Bangkok saw the most number of secondhand houses offered for sale in the first quarter of this year — an average of 54,627 units per month, representing almost 40 per cent of the country’s total, said REIC acting director-general Vichai Viratkapan.

He added that the average total value of houses sold in the capital during that period was THB581 billion, accounting for 62 per cent of the entire country.

In terms of number of units, Bangkok was followed by Nonthaburi, Samut Prakan, Pathum Thani, Chonburi, Chiang Mai, Rayong, Prachuap Khiri Khan, Phuket, and Nakhon Ratchasima provinces.

The monthly volume of pre-owned houses on offer in the top 10 provinces accounted for 75.5 per cent of the country, with the monthly value representing 88.6 per cent, according to Vichai.

Secondhand houses in the price range of THB3-5 million were the most popular, accounting for 23,295 units, or 16.9 per cent of all offered for sale per month in the first quarter.

Those with prices ranging from THB7.5 million to 10 million were the least popular — 7,432 units were put up for sale, accounting for 5.4 per cent.

Vichai said Thailand’s secondhand housing market saw an expansion in the first quarter compared to the same period last year.

Detached houses made up 40 per cent of all units put for sale in the first quarter — the largest group of all. They were followed by apartment suites 29.5 per cent, townhouses 26.4 per cent, shophouses 2.6 per cent, and duplexes 1.6 per cent.

Published : June 10, 2022

PTT Public Company Limited and MedPark Hospital sign a Medical Service Agreement for health benefits of PTT’s employees and their families

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https://www.nationthailand.com/pr-news/business/40016473

Bangkok, June 7, 2022 — Prof. Dr. Sin Anuras, Dr. Pongpat Patanavanich together with MedPark Hospital Management Team welcomed Mr. Auttapol Rerkpiboon, President and Chief Executive Officer, and Mr. Suchat Ramarch, Senior Executive Vice President, Organization Effectiveness and Corporate Governance of PTT Public Company Limited for the signing ceremony of Medical Service Agreement to provide medical services for PTT Public Company Limited.

PTT Public Company Limited and MedPark Hospital sign a Medical Service Agreement for health benefits of PTT’s employees and their families

Being equipped with state-of-theart technology and highly experienced medical staff, MedPark is positioned to be a destination for high acuity and complex diseases, preventive screening, and other general healthcare programs.

PTT Public Company Limited and MedPark Hospital sign a Medical Service Agreement for health benefits of PTT’s employees and their families

The Medical Service Agreement signing between the two organizations is a joint commitment to ensure good healthcare services for PTT’s employees and a foundation for further collaboration in the near future.

PTT Public Company Limited and MedPark Hospital sign a Medical Service Agreement for health benefits of PTT’s employees and their families

Published : June 09, 2022

By : THE NATION

Doi Kham takes vital greener approach to hazardous waste management

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Thailand has an average of 1.03 million tonnes of mismanaged waste each year, according to the Thailand Development Research Institute.

Doi Kham takes vital greener approach to hazardous waste management

To combat this alarming environmental threat, 12 leading organisations have teamed up to launch a project they hope will help Thailand become a zero-waste society.

The “Create a Green World” project hopes to tackle waste management along the lines of the bio-circular-green economy that deals with global challenges such as climate change, biodiversity loss and pollution, hoping to create a sustainable environmentally friendly Thai society.

The project aims to recycle and upcycle waste to boost value and reduce the use of new resources by minimising waste problems that affect the environment and quality of life, and help create carbon credits.

The initiative has been piloted by Doi Kham with its network partners who are cooperating and supporting the recycling/upcycling of discarded UHT boxes, dialysis fluid bags and other waste materials for reuse. 

The 12 organisations comprise Thailand Post, Thailand Post Distribution, Doi Kham Food Products, the Government Pharmaceutical Organisation, the National Health Security Office, the Thailand Greenhouse Gas Management Organisation, Chulalongkorn University, King Mongkut’s Institute of Technology Lat Krabang, Tetra Pak, Major Cineplex Public Group, Best Polymer and Advance Match. 

All 12 inked a MOU on June 1 to build a green world. The initiative will last until 2025.

Ampon Food, SIG Combibloc and the Office of the National Council for Higher Education, Science, Research and Innovation have also voiced their readiness to join the much-needed project.

“His Majesty Rama IX had a very broad perspective on the environment,” Doi Kham president and chief executive Pipatpong Israsena Na Ayu said. “Therefore, we are concentrating mainly on the environment, asking what are we going to do for it.

“It is something we need to be aware of, that everyone in the country or everyone in the world needs to be aware of, otherwise this planet won’t become livable anymore in the future,” he pointed out.

“Do we want to pass on a dirty world to our children and grandchildren or do we want to give the people we love a world that is clean, a world that is livable,” Pipatpong asked.

“This [project] is the idea behind it all. Doi Kham is trying to move towards a bio-circular-green economy,” he added.

Published : June 09, 2022

Nok Air warns of halting Betong flights without government aid

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Budget airline Nok Air will discontinue its Bangkok-Betong flights at the end of October unless it gets additional state assistance to help offset heavy losses, its chief executive Wutthiphum Jurangkool said on Thursday.

Nok Air warns of halting Betong flights without government aid

Nok Air is the only airline that flies to Betong Airport, which opened for commercial flights in mid-March.

The airline offers a daily flight between Bangkok’s Don Mueang Airport and the country’s southernmost airport in the border province of Yala.

The Nok Air CEO said on Thursday that over the past three months of services, it has accumulated operating losses of THB15-20 million.

He said its collaboration with the Tourism Authority of Thailand, tour companies and relevant state agencies in a promotional campaign, which has helped offset part of the losses, would end in late July.

Earlier, Nok Air reported that its Betong route had recorded a loss of about THB40 million during its three months of operation, making the airline hesitant about extending the service over the long run.

Wutthiphum said on Thursday that the Betong Airport had offered a THB9,000 cut in office rent for Nok Air, as well as a reduction in the landing fee. “That’s just part of our request for assistance from the state,” he added.

“We will try to continue our flights for six months [until the end of October]. If there’s no additional help, we will have to stop flying in November,” the CEO said.

He said that price increase in air fares was not a viable option as tourists have many other alternatives, including travels to neighbouring countries.

The Nok Air CEO called on the government to encourage more investment in Betong, as well as improvements of tourism infrastructure in the area. This would bring in more visitors and business travellers, he added.

Wutthiphum also called for connecting flights between Betong and airports in Malaysia and Singapore to attract more tourists from those countries.

“The private sector wants clear government measures to help stimulate tourism in Betong district in the long term,” he said.

Published : June 09, 2022

Concern over Fed move, Shanghai lockdown pull baht to lowest in 3 weeks

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The baht opened at 34.57 to the US dollar on Friday, weakening from Thursday’s close of 34.49 and marking the lowest drop in three weeks.

Concern over Fed move, Shanghai lockdown pull baht to lowest in 3 weeks

The currency is expected to move in the range of 34.55 and 34.75 on Friday, Krungthai Bank’s market strategist Poon Panichpibool predicted.

He said the baht may fluctuate and weaken to test the resistance level at 34.70 to 34.80 – the point that exporters are waiting for to sell the dollar.

He said the baht is being pressured by concerns that the US Federal Reserve may increase the interest rate and thereby strengthen the dollar.

Hence, he said, investors should keep a close eye on the US Consumer Price Index. If inflation surges from the previous month, investors can expect the Fed to push the interest rate to a higher level.

The baht is also pressured after China enforced lockdown measures in Shanghai again, which affects investments in emerging Asian markets.

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

Published : June 10, 2022

By : THE NATION

Rodenstock unveils B.I.G. NORM™ Biometric Intelligent Glasses from Innovation of AI and 500,000 individual big data

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Rodenstock (Asia) Co., Ltd is a world leading manufacturer of lens and eyewear from Germany, established more than 145 years. It believes that everyone’s appearance is so unique and different, and so are all their eyes. Therefore, eye lens should be measured to be compatible with ones’ eyes.

Rodenstock unveils B.I.G. NORM™ Biometric Intelligent Glasses from Innovation of AI and 500,000 individual big data

Rodenstock has always developed an innovative technology for better progressive lens. The recent innovation is to manufacture biometric intelligent glass with AI  which could process the wealthiest individual information ever. Rodenstock has collected personal data more than 500,000 individual biometric eye data. As a result of this, the accuracy of the biometric Intelligent glass is highly sharp with best view, comfortable looking, and vivid image at all distances.

Mr Siripong Tipmongkolsilpa, the Sales and Product Manager of Rodenstock elaborates that when you are reaching 40 years of age the eye lens gradually loses its elasticity, which is why it can no longer quickly differ between close-up and distance vision. A progressive lens is a lens that assists the actual eye lens and enables infinitely variable vision at all distances. A prerequisite for sharp vision with every glance and at all angles is the custom-fit of a progressive lens to the individual eye.

Rodenstock unveils B.I.G. NORM™ Biometric Intelligent Glasses from Innovation of AI and 500,000 individual big data

Up to now most lenses have been manufactured based on a traditional eye test, during which only four standard prescription values are determined for the calculation of the lens. When lenses are manufactured solely on the basis of these four values, standard values from the reduced eye model are used for the biometric data of the individual eye, which suit only 2% of eyes. The fact that each eye is unique is not taken into account – for example, the shape of the lens and cornea, which has an effect on how precise the lens is customised to the individual requirements of the eye.

Rodenstock unveils B.I.G. NORM™ Biometric Intelligent Glasses from Innovation of AI and 500,000 individual big data

Through the use of artificial intelligence and one of the largest biometric data pools, which includes 500,000 individual biometric eye measurements of other spectacle wearers, a new standard of lens calculation was created at Rodenstock. This new standard of lens calculation allows an AI-based biometric model of the eye to be created, even if only the traditional four standard refractive values of a spectacle wearer are available. This means that a significantly higher degree of biometric precision is possible for standard progressive lenses, which in turn now allows the manufacture of biometric lenses even without a previous measurement with the DNEye® scanner. Rodenstock calls the new AI-based lenses B.I.G. NORM™.

Rodenstock unveils B.I.G. NORM™ Biometric Intelligent Glasses from Innovation of AI and 500,000 individual big data

In addition to progressive lens with AI, Rodenstock has the best choice: Biometric lenses based on DNEye® technology. Rodenstock creates a paradigm shift in the calculation of progressive lenses by determining the unique shape and size of each eye exactly and taking this data into consideration in the manufacture.

The manufacture of lenses based on the exact eye measurement with the DNEye® scanner results in lenses which give the spectacle wearer pin-sharp vision, whereby Rodenstock determines the biometrics of the whole eye. This includes the length of the eye and several thousand data points – this is unique in the industry. Using these data records a precise, universal model is created for each individual eye. All relevant biometric data is incorporated directly into the lens production. On that basis a lens is then calculated that suits each individual person as perfectly as possible. This means that Rodenstock can determine the center of sharp vision for each individual eye. And spectacle wearers benefit from pin-sharp vision from every angle and with every glance, wherever they are looking.

Rodenstock unveils B.I.G. NORM™ Biometric Intelligent Glasses from Innovation of AI and 500,000 individual big data

The high degree of biometric precision of these lenses, based on the exact eye model of the wearer, gave Rodenstock inspiration for a new name. Rodenstock now calls these lenses: B.I.G. EXACT™.

Mr Siripong Tippayamongkolsilpa, sales and product manager of Rodenstock ,added that beside “While the precision and the advantages of the B.I.G. EXACT™ lenses – calculated on the basis of exact measurements of the DNEye® scanner – are still unrivalled, with the new B.I.G. NORM™ lenses Rodenstock can now achieve its goal of offering biometric lenses for everyone. Rodenstock starts a biometric revolution and also creates its B.I.G. VISION™ FOR ALL with standard refractive values.”

More information, search from https://www.rodenstock.com/th/th/bigprecision.html or https://www.facebook.com/RodenstockTH or any inquiries, please contact eye specialist or optical shop. 
 

Published : June 08, 2022

By : THE NATION

Bitkub, Fandom announce “FANDOM Application” entertainment platform with “Fun to Earn” features

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https://www.nationthailand.com/business/40016432

Bitkub Blockchain Technology, Bitkub Chain Developer and Blockchain Total Solution Provider together with Fandom Application on June 7 announced “FANDOM Application” as a platform to connect artist and fanclub via “Fun to Earn” features.

Bitkub, Fandom announce "FANDOM Application" entertainment platform with “Fun to Earn” features

This cooperation aims to minimize the gap between artists and fanclubs. As the number of the fans gradually increase, the artists usually have difficulty in accessing the large number of fans which are widely spread across several applications and platforms.

As a result, FANDOM application is officially announced under the cooperation between Bitkub Blockchain Technology Co., Ltd. and Fandom Application Co., Ltd. FANDOM application is the entertainment platform to connect the artists and fans together. By differentiating the application features, the users can earn the digital tokens via “Fun to Earn” model. Indeed, FANDOM application will connect almost every entertainment such as music, artists, sports and influencers with their fans along with providing new users experience. FANDOM application will be tentatively launched within August 2022 with several interesting features including

  1.  Allowing artists and fans to communicate with each other easily
  2.  Interesting activities and campaigns from artists and fans
  3.  Follow up news and exclusive updates from the artists
  4.  More channels to earn NFT tokens
  5.  The fans can support genuine copyright from the artists
  6.  Several artists NFT collections
  7.  Fun to Earn features on the application

Furthermore, FANDOM application is different from general applications; almost every Thai’s NFT marketplace emphasizes on buying and selling, making them lack the interconnects between artist and fans.

Bitkub, Fandom announce "FANDOM Application" entertainment platform with “Fun to Earn” features

“NFT feature is an opportunity for artists to perform and demonstrate their own appearance throughout the fans over the world. By implementing NFT features, it will allow every artists to create their own and unique digital arts. In the same way, the fans can also truely own NFTs from their favourite artists by using blockchain technology,” said Sirasom Borisutsuwan, CEO and founder of FANDOM Application.

“Bitkub Chain has the most transaction in Thailand. Also, by comparing to other chains in the world, Bitkub Chain ranked as 12th chain that has the most transaction. As a result, under this cooperation, it will allow creators and their fans to create digital arts with a transparent and secure. Thus, FANDOM Application will enhance efficiency on Bitkub Chain ecosystem,” said Passakorn Pannok, CEO of Bitkub Blockchain Technology.

Bitkub, Fandom announce "FANDOM Application" entertainment platform with “Fun to Earn” features

In the final part of the annoucement, FANDOM application already prepared the special privilege for digital content on the application and allow creators and artists register for the special activities. (Limited registration and the conditions are as specified by the company). Also, anyone who are interested for registration will be awarded 100 Fandom Stars for claiming digital content on the website www.fandom.co.th. Refer this to your friends and get 25 Fandom Stars per person.


For more news and updates on Bitkub Chain, visit:
Website: https://www.bitkubchain.com/ 
Facebook: https://www.facebook.com/bitkubchainofficial 
Twitter: https://twitter.com/bitkubchain 
Discord: https://discord.gg/WkJ6j279
Telegram: https://t.me/+jiM6dAP5cxUzZTM1

Find out more about FANDOM Application at:
Website: www.fandom.co.th
Facebook: https://www.facebook.com/FandomThailand
 

Published : June 08, 2022

By : THE NATION

Baht ‘may weaken’ with markets in a risk-off state

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The baht opened at 34.51 to the US dollar on Thursday, strengthening from Wednesday’s close of 34.54.

Baht 'may weaken' with markets in a risk-off state

The currency is expected to move in a range between 34.40 and 34.60 on Thursday, predicted Krungthai Bank market strategist Poon Panichpibool.

Poon said the Thai currency might fluctuate and weaken early during the day as the dollar strengthens because the markets are in a risk-off state amid concerns that the US Federal Reserve would increase the interest rate.

Meanwhile, the European Central Bank (ECB) is scheduled to hold a key meeting at 6.45pm (Thailand time), which would cause the baht to seesaw before and after the meeting, he pointed out.

If the ECB signals that it would increase the interest rate and stop injecting liquidity via quantitative easing, the euro might advance and cause the dollar to weaken, in turn strengthening the baht, he said.

However, Poon said the US currency might not weaken even if the ECB signals it will increase the interest rate, because the movement of the dollar will depend on US Consumer Price Index results due on Friday. If US inflation is seen to slow, it might reduce concern that the Fed would increase the interest rate by a big margin and would cause the dollar to weaken.

According to Poon, the baht’s key resistance level is 34.70-34.80 to the dollar as exporters speculate that the Thai currency might weaken in the short term and are waiting to offload the dollar at that level.

Moreover, foreigners might invest in short term bonds again if the baht does not weaken past the resistance level.

Poon advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.

Published : June 09, 2022

By : THE NATION

Mitr Phol urges government to hike sugar price as costs soar

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Mitr Phol Group, Asia’s largest sugar producer, wants Thailand’s Commerce Ministry to be open to discussing the raising of sugar prices as the cost of the cultivation and production has surged by 40 per cent.

Mitr Phol urges government to hike sugar price as costs soar

Speaking to the media during a tour around his factory in Suphan Buri province, Buntoeng Vongkusolkit, chairman of Mitr Phol Group, said the current surge in global prices of sugar was due to a reduction in supply after India, the world’s largest sugar producer and second-largest exporter after Brazil, decided to curb its sugar export. He said it would not seriously impact Thai supply and exports.

He insisted that production right now is adequate for domestic consumption and for regular export. However, in his view, the issue of most concern is the rising cost of cane cultivation and production of sugar.

Diesel fuel and fertilizer are the main cause of his concern as the prices of those two have already increased by 40 per cent compared to the last harvest season.

Mitr Phol urges government to hike sugar price as costs soar

“Our company and the Sugarcane Farmers Association have already sent our request to the Office of the Cane and Sugar Board several times so that they can raise the issue with the government. Sugar is a price-controlled commodity so we need to discuss it with the government before raising the price. We still hope that they will talk to us soon about the proper price,” Buntoeng said.

Mitr Phol urges government to hike sugar price as costs soar

When asked what is the appropriate price for sugar right now, Buntoeng did not respond. He said global sugar prices currently stand at around 19 cents per pound, so the price of Thai sugar should not be more than that level.

He urged the government to urgently consider raising the price of sugar before global sugar prices decline. 

He explained that the reason farmers and producers were still able to endure the present conditions were because the price of sugar is really good. However, when sugar supply increases to meet the demand but the cost of energy and fertilizer remains high, that would be the real crisis.

Published : June 08, 2022

By : THE NATION