Shine Bunnag has stepped down as Nation Broadcasting Corporation (NBC) CEO to work on combining the Nation Group’s eight media outlets in line with the One Nation policy.
The new strategy will connect Krungthep Turakij, Kom Chad Luek, Nation Thai News, Nation TV 22, The Nation Thailand, The People, Khob Sanam and Spring Online.
NBC director Asst Prof Dr Samart Deephijarn has taken over from Shine as of Monday, the company’s report to the Stock Exchange of Thailand said.
At a meeting on April 29, shareholders approved the sale of 691.03 million or 61.46 per cent stake held by Nation Group in NBC to Nattapong Sitaworarat and Boon-ua Jitthanom for 898.34 million baht. These transactions are expected to be completed by July.
The shareholders also approved the Nation Group’s purchase of 85.99 million shares, equivalent to 99.99 per cent of registered shares, of NBC Next Vision (NNV) at 2.79 baht each from NBC. The stake will cost the company 239.72 million baht.
On April 29, NBC shareholders also approved the sale of NNV shares to Nation Group. NNV is an owner of Nation TV 22, which also holds a 60 per cent stake in Nation Coffee.
Shine, who is also CEO of Nation Group, said these moves are important steps towards the company’s new landscape along with maintaining its reputation as a fair and responsible media outlet. He said adhering to this ideology was important, especially since The Nation turns 51 on July 1.
“Once transactions are completed, Nation Group will be strong financially and ready to expand the business further,” he said.
MP Group (Thailand) Ltd recently unveiled the company’s first Covid-19 antigen test kit (ATK) vending machine under the brand ‘STANDARD Q’ at Central Pinklao department store in a bid to help people protect themselves from the new coronavirus.
The company’s chief executive officer Nathaporn Boonbuppha said that STANDARD Q brand ATK is manufactured by SD BIOSENSOR and has the highest sales globally. It was approved under World Health Organization (WHO)’s standard and can detect Omicron subvariants of the virus including BA.1, BA.2 and BA.2.2, according to studies by the University of Geneva in Switzerland and the University of KwaZulu-Natal in South Africa.
‘STANDARD Q’ ATK vending machine can distribute up to 1,000 kits per day and will be available at convenient locations.
For more information, visit Line @ standardq or Facebook @ MpGroupThailand
Revealing key strategies catapulting Thai brands to greater heights and world markets
Bangkok, May 18, 2022 – NTGS Corporation Company Limited is the distributor of silky face mask sheets under the brand of MC JABRIAL. These gold face mask sheets are made from 100 percent natural gold silk sourced from a hybrid of Thai native Tubtim Siam and Wana Sawan silkworms. They are unique, naturally produced, biodegradable and environmentally friendly. MC JABRIAL’s face mask sheets have been chosen to represent the best entrepreneur from Thailand’s northern region at the 4th annual Young Exporter Local to Global (YELG) workshop organized by the New Economy Academy (NEA), Department of International Trade Promotion, Ministry of Commerce. Equipped with in-depth training from field experts, the chosen local entrepreneur has the skills and knowledge befitting the role of an exporter of Thai products manufactured with local raw resources with the potential to be exported to international markets and gain recognition in the international trade arena.
Talking about MC JABRIAL’s silky face mask sheets, Khun Naruemol Sittisod, Managing Director of NTGS Corporation Company Limited said, “as the founder of MC JABRIAL’s 100 percent natural gold silky face mask sheet, which is a premium product from Payao province, we would like to note that it is extracted from the silk threads that are not part of the cocoons of a hybrid of Thai native Tubtim Siam and Wana Sawan silkworms. The use of these silkworms is supported by the Queen Sirikit Department of Sericulture. Therefore, the silk threads obtained are golden yellow in color. They are unique, naturally produced, biodegradable, and environmentally friendly.
These natural gold silk threads are rich in sericin comprised of 18 amino acids with the similar texture of human skin. It has moisturizing properties and can hold up to 300 times its weight in hydration. In other words, it can maintain your skin’s moisture for a long period of time. The sericin protein that covers the outer part of silk threads will exfoliate and brighten your skin while helping to reduce facial blemishes and freckles and giving you a brighter, softer, and younger skin. It also consists of anti-oxidant, anti-wrinkle, and anti-aging properties which helps to boost collagen, improve skin elasticity, and make you younger-looking.”
In this respect, the company’s business target is to export these silk thread-based products to other countries. We researched a wide range of information and got ourselves ready and acquainted with international markets with the assistance of the Ministry of Commerce. We registered a trademark in Thailand and continued to expand trademark registration to include Vietnam and China, the processes of which have already been completed. In late 2021, the company began exporting its products to Vietnam, Middle Eastern countries, and the United States, while still attempting to seek additional information from its engagement in multiple activities with the Department of International Trade Promotion, with the ultimate goal of requesting and utilizing information on all aspects of exportation and international markets to help the company improve and adjust its products in accordance with market needs and expand its reach to additional countries.
In this regard, the company was afforded the opportunity to partake in the 4th annual Yong Exporter from Local to Global (YELG) workshop organized by the New Economy Academy, Department of International Trade Promotion, Ministry of Commerce, with the goal of learning and enhancing its knowledge. In addition, we also had access to up-to-date information on international exportation to other countries. The workshop offered a variety of reliable information relayed by trade ambassadors and export specialists who specialize in exporting products directly to respective countries. This wealth of information benefits business operators in terms of helping them make adjustments during the global COVID-19 pandemic and offering ways to deal with post-COVID-19 business operations.
The company is highly confident that the knowledge and advice offered by the Department of International Trade’s specialists will enable the company to grow and address operational deficiencies, as well as build credibility with customers. In addition, this treasure trove of information will not only increase the overall export value, but it will also drive the economy from the ground up and help maintain the stability of employment while, at the same time, opening up markets for other types of products to have the opportunity to gain recognition in the international trade arena.
The Department of International Trade Promotion also values the significance of news updates and information pertaining to the exportation of products to target countries and others that offer the new potential to entrepreneurs nationwide. The Department utilizes both skills and knowledge as a weapon to increase the level of their competitiveness in world markets and to help new small and medium entrepreneurs understand the important aspects of exportation with the goal of forming strategies, conducting businesses, performing cost accounting, setting product prices to achieve profitability, and carving out appropriate business models to avoid being disadvantaged by foreign competitors. They can also apply this knowledge to improve transportation logistics, streamline payment methods, exercise caution in the exportation process to prepare for, respond to, and make adjustments to existing risks with an eye toward reinvigorating their businesses and making them run smoothly.
The metaverse is fast becoming a key to companies’ growth and talent strategies as well as for new opportunities, consulting firm Deloitte said on Tuesday.
The metaverse is still in its initial stages and is expected to enter maturity from 2031 when independent metaverses from different industries will gradually share data and develop unified, integrated standards.
Unified data standards, payment systems and identity authentication are critical to achieving cross-platform development and integration.
From a business viewpoint, the line between offline and online channels is becoming blurred, representing rapidly growing opportunities in almost all industries from physical products to services like education and healthcare.
Soon, metaverse will have the potential to evolve traditional business models in different ways. Companies can use digital twins to emulate manufacturing and logistics processes within the metaverse, which may enable lower-cost predictive planning and maintenance.
Industrial engineers can also test product designs in a mixed-reality launch pad.
However, the metaverse will likely introduce new cyber vulnerabilities and risks related to digital identity and fraud.
Businesses and governments can be expected to focus on protecting personal information while identifying and addressing emerging cyber risks.
Regardless of the ultimate trajectory of the metaverse, it’s clear that technology is evolving rapidly to make virtual interactions more immersive, more diverse and more innovative.
The Tourism Authority of Thailand has gone in for two roadshows abroad, hoping to attract 2.5 million European visitors who could generate THB200 billion in much-needed income for the country this year.
The first roadshow in two years following the Covid-19 pandemic was held late last month and the second is planned for August, said Chattan Kunjara Na Ayudhya, TAT deputy governor for Europe, Africa, the Middle East and America.
Chattan termed the roadshow in Paris on May 23, 24 and 25 a success.
TAT led a delegation of representatives from 13 Thai tour businesses to conduct negotiations with 171 tourism firms from France, the Netherlands and Belgium.
Chattan said the roadshow prompted 2,000 tourists from the three countries to book 4,000 room nights in Thailand valued at THB144 million.
TAT promoted the popular tourist destinations of Koh Kood, Koh Chang, Hua Hin and Pattaya.
Chattan said the roadshow came in time, drawing European interest well before winter season when tourists want to visit warmer countries. So winter in the West is normally high season for Thailand.
TAT aims to draw some 478,000 tourists from France, the Netherlands and Belgium to Thailand this year and expects the kingdom to earn THB34.8 billion in revenue, Chattan said, adding that this would be 50 per cent of the number and income from tourists from the three countries in 2019.
By country, TAT hopes to lure 300,000 tourists from France with THB21 billion in income, compared to 710,000 visitors and revenue of THB42 billion in 2019; 120,000 Dutch tourists with THB9.6 billion in income, compared to 230,000 and THB16 billion revenue in 2019; and 58,000 Belgian tourists with THB4.2 billion in income, compared to 114,000 and THB7.3 billion revenue in 2019, he explained.
“The first roadshow was crucial. TAT had to sell our destinations and services for the winter season in Europe that starts from October,” the deputy governor said. “It’s high season for Thailand because Europeans leave their countries in high numbers at that time.”
He said European tourists have become more interested in visiting Thailand after seeing the Thai government relax its Covid travel restrictions.
“Had we not carried out the roadshow in Paris, we would have missed a huge opportunity to win over European tourists because our rivals are also pushing their destinations with the Covid situation improving,” Chattan pointed out.
He said Thailand’s rivals are countries with Mediterranean seasides, which include Greece, Italy, Spain, Turkey and Egypt, besides a handful of Asian countries including Japan, Vietnam and Indonesia’s Bali.
Chattan said tour operators in the three European countries asked about travel rules and were pleased to know that the Thai government does not require foreign tourists to be quarantined anymore.
He added that a current obstacle was the lack of enough direct flights because airlines have resumed only 40 per cent of services compared to pre-Covid levels and some tourists had to take lengthy transit flights via the Middle East.
Another obstacle was soaring airfare prices – by 15 to 20 per cent – because of the fallout from the Russia-Ukraine war.
Chattan said TAT would hold its second roadshow in Sweden and Denmark in August.
TAT hopes to attract 250,000 tourists from Europe and THB200 billion in income as a result of this roadshow, compared to 8.2 million European visitors and THB500 billion in revenue in 2019, Chattan concluded.
Popular low-cost coffee franchise Muanchon Coffee is being closed permanently from Wednesday to become Bellinee’s Bake & Brew.
Franchise operator CP Retailink explained that the company decided to change its business model to bring it in line with consumer demand because customer behaviour has changed in this Covid-19 situation.
The company said Muanchon Coffee would become a premium bakery and coffee shop called Bellinee’s Bake & Brew so it could better compete in both present and future market environments.
CP Retailink said customer behaviour and tastes have changed significantly while the coffee market is extremely competitive in every customer segment.
Also, the new generation has more methods to access goods and services. Therefore, the company has decided to change its business model to focus on the bakery business, which is currently popular, it said.
Muanchon is a brand that offered coffee for the masses via small operators. It found strength in meeting Thai tastes with prices starting from THB25.
Not surprisingly, it became highly popular with workers and low-income earners. It expanded to more than 1,000 branches in almost ten years, becoming a prototype for CP All’s coffee shops.
The US will become an important market for Thai exports of edible insects, Department of International Trade Promotion director-general Phusit Ratanakul Sereroengrit said on Wednesday.
The US Meticulous Market Research expected the United States’ edible insect market to expand by as much as 28 per cent between 2022 and 2030 and be worth $9.6 billion (THB329.3 billion) in value as these insects are an alternative source of high-nutrient protein, he said, citing the commerce ambassador’s report.
Phusit said the insects, such as crickets, black soldier flies, mealworm, grasshoppers, ants, silkworms and cicadas, are commonly used to produce alternative proteins.
These proteins are mostly used in the food and beverage industry, followed by the animal feed sector, he said, adding that there are various types of edible insect products, such as powders, protein bars, snacks, pastries, confectionery, processed insects and beverages.
Phusit also expected higher demand for edible powder products in line with fitness trends.
He suggested Thai enterpreneurs develop edible insect products for the US market and use packaging that will attract consumers. Phusit also wanted businesses to develop frozen insects as these have an extended shelf life.
Meanwhile, marketing should target Hispanic consumers, especially Mexicans who love to consume insects, he added.
The baht opened at 34.31 to the US dollar on Wednesday, heading south from Tuesday’s close of 34.24.
The currency is expected to move in a range between 34.20 and 34.40 on Wednesday, predicted Krungthai Bank market strategist Poon Panichpibool.
Poon said currency market volatility might increase due to uncertainty whether the US Federal Reserve would increase the interest rate amid inflation worries, causing the dollar to strengthen and the baht to weaken.
He said some investors have unloaded the baht so it might test its resistance level of 34.40 to the dollar.
However, it will not weaken past the resistance level much as exporters are waiting to sell the dollar.
Moreover, foreign transactions have not flown out of Thailand in large amounts as both the Thai and Chinese economies are improving, which will decrease the pressure on EM Asia assets if the market goes into a risk-off state, he noted.
Poon said the baht would move between 34 and 34.40 to the dollar until new factors emerge.
He advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.
Thailand’s outstanding public debt as of March 31 stands at 9.95 trillion baht or 60.58 per cent of the gross domestic product, a report from the Finance Ministry shows.
“Outstanding public debt is still in compliance with the State Fiscal and Financial Disciplines Act of 2018, which stipulates that outstanding public debt should not exceed 70 per cent of the GDP,” government spokesman Thanakorn Wangboonkongchana said on Monday.
On April 1, the Finance Ministry reported that the outstanding public debt as of February 28 was 9.8 trillion baht or 60.17 per cent of the GDP.
The ministry attributed the rise in public debt to the Covid-19 fallout, which prompted the government to issue measures to help affected people and stimulate the economy.
The ministry added that since the global Covid-19 situation began improving in March and economic activities started recovering, foreign currency revenue from exports kept the ratio of public debt low.
Key points in the public debt report as of March 31, 2022, are as follows:
60.58% of GDP (cannot exceed 70% as per the State Fiscal and Financial Disciplines Act)
9.95 trillion baht: Total outstanding public debt
16.42 trillion baht: Thailand’s GDP
26.77%: Ratio of government debt per fiscal year’s estimated revenue (cannot exceed 35%)
653.76 billion baht: Total government debt
2.44 trillion baht: Estimated revenue
1.79%: Ratio of debt in foreign currency against total public debt (must not exceed 10%)
178.11 billion baht: Total debt in foreign currency
0.07%: Ratio of debt in foreign currency against revenue from exports
The baht opened at 34.09 to the US dollar on Tuesday, unchanged from Monday’s closing rate.
The currency is expected to move in a range between 34 and 34.15 on Tuesday, said Krungthai Bank market strategist Poon Panichpibool.
Poon said the baht might fluctuate and strengthen during the day as the market opens to more risks and foreign investors return to the Thai stock market.
However, any rise would be limited as importers are waiting to buy the dollar at the support level, expected to be 34 to the dollar.
Poon said that the baht will move between 34 to 34.40 to the dollar until new factors emerge.
He advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.
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