XPG aims high as it diversifies into digital asset services in second quarter

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https://www.nationthailand.com/pr-news/business/40013030


XSpring Capital Plc (XPG) announced its ground-breaking move to commence comprehensive services in the digital asset market on Thursday.

XPG aims high as it diversifies into digital asset services in second quarter

XSpring Capital Plc (XPG) announced its ground-breaking move to commence comprehensive services in the digital asset market on Thursday.

The announcement concerns its subsidiary, XSpring Digital Co Ltd, a digital token trading platform provider, as it has received “Licence Activation” from the Securities and Exchange Commission (SEC) on February 18, which grants the company official status as a digital asset broker and dealer.

XSpring Digital is fully committed to this latest undertaking in the digital asset market, asserting three strengths for Thai investors as Thailand’s first one-stop service provider, in partnership with large capital funds to offer global liquidity and better investment opportunities.

The company aims to win one-third of Thailand’s digital asset market share, which will in turn become the main source of revenue for XPG Group.

XPG president Varangkana Artkarasatapon said the company sees potential and opportunities in the digital asset market, which is one of the most popular asset classes among both short-term and long-term investors.

She added that the company is constantly seeking new opportunities for all kinds of investments for investors through accessible platforms.

She explained that last year, XSpring Digital, which oversees the digital asset business, achieved great success as Thailand’s first digital token system provider and ICO portal approved by the SEC with ‘SiriHub Token’, Thailand’s first real estate-backed ICO, raising 2.4 billion baht.

In addition, XSpring Digital is among a few Thai digital asset service providers that have received four licences from the Finance Ministry, namely cryptocurrency broker, digital token brokerage, cryptocurrency dealer, and digital token dealer, she added.

XPG aims high as it diversifies into digital asset services in second quarter

“Today, XSpring Digital has reached the next stage, having officially obtained ‘License Activation’ from the SEC,” she said,

“Now, the company can conduct these four businesses with a platform that supports all ranges of investors in a legal and more comprehensive manner, and is ready to become ’Thailand’s first digital financial and investment One-Stop Service provider’.”

XSpring Digital highlights three competitive strengths:

Partnership: XSpring Digital has fostered collaborations with many partners from various businesses to enhance the all-inclusive financial ecosystem and offer superior benefits to all investors.

Global liquidity: XSpring Digital connects local investors to the global digital asset market through Coinbase, a global online platform for buying and selling digital currencies. The collaboration will enable investors to trade in high liquidity and high volume at global prices, which will truly unlock boundless offshore opportunities for local investors.

Convergent Digital Asset Trading Platform: XSpring Digital offers a world-class digital asset trading platform that is easy to use and secure with a KYC system, allowing a convenient but highly secured account opening approval. In addition, investors can transact in Thai baht without currency exchange. Investors can trade on both XSpring Digital’s website and XSpring application 24 hours a day.

XPG aims high as it diversifies into digital asset services in second quarter

“XSpring Digital takes great pride in becoming Thailand’s first comprehensive digital financial and investment one-stop service provider where investors can trade both cryptocurrencies and digital tokens in the same platform, supporting both primary and secondary markets with seamless domestic and foreign exchanges,” Varangkana said.

She added that the company targets one-third of market share and remains committed to their strength of an all-inclusive financial ecosystem to maximise the development of the Thai digital asset market and expand it to regional and global levels.

“The company will further expand into other high-potential products in the future. We believe XSpring Digital will become a core business that contributes a large amount of revenue to XPG Group by 2022,” she concluded.

XSpring Digital is expected to be ready to launch the digital asset trading platform in the second quarter of this year through XSpring Digital website and XSpring application, supporting both Android and iOS operating systems.

Published : March 04, 2022

Sasin to hold its last open house for school’s 2022 intake on March 19

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https://www.nationthailand.com/pr-news/business/40013021


Sasin has also been ranked in the World’s Top 100 and Asia’s Top 10 for Entrepreneurship and Alumni Outcomes and Class and Faculty Diversity in the QS Global MBA Rankings 2021.

Sasin to hold its last open house for school's 2022 intake on March 19

Sasin School of Management will organise its open house event on March 19, from 10am to noon, to enable visitors to learn more about Sasin’s programmes. 
This in-person event is the last open house before the school’s 2022 intake, with the final application deadline on March 31 this year.
Sasin’s programmes are taught by a combination of its core faculty and visiting professors from some of the world’s leading business schools. Sasin has an extensive network of global partners, offering students a wide range of international opportunities at some of the top business schools around the world.
Currently, Sasin has a record number of inbound international exchange students joining classes at Sasin this module, while more than 30 Sasin students are enjoying their exchange experience in North America, Europe and Asia.
Sasin’s focus is to “Inspire.Connect.Transform” for a better, smarter, sustainable world. This is reflected in all the programmes, with a strong emphasis on sustainability through an entrepreneurial mindset, and a significant reputation for innovation and leadership in these important areas.

Established in 1982, Sasin School of Management is a globally renowned business school celebrating its 40th anniversary this year. Sasin is the top business school in Thailand and has one of Asia’s top 3 — and one of the world’s top 50 — full-time MBA programmes, according to The Wall Street Journal.
Sasin has also been ranked in the World’s Top 100 and Asia’s Top 10 for Entrepreneurship and Alumni Outcomes and Class and Faculty Diversity in the QS Global MBA Rankings 2021.
Sasin has accreditations from both the Association to Advance Collegiate Schools of Business and the European Quality Improvement System. It was the first school in Thailand to be awarded either accreditation. Sasin continues to be one of only six Southeast Asia-based schools with both accreditations. All degree programmes are taught in English.
Interested people can register for the school’s open house at https://study.sasin.edu/open-house (limited space available; RSVP only according to Covid-19 prevention procedures).
For more information about Sasin’s programmes, visit https://sasin.edu or apply online at https://apply.sasin.edu. Or call 085-123-6832 for more information.

Published : March 04, 2022

Thai AirAsia named 3rd most punctual budget airline in the world

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https://www.nationthailand.com/business/40013039


Thai AirAsia has been named the third-best low-cost carrier for punctuality by the aviation analytics and data provider Cirium. It won a 97.47 per cent score from 8,321 flights.

Thai AirAsia named 3rd most punctual budget airline in the world

The top two places are held by Japan’s Solaseed Air and Starflyer with scores of 97.93 per cent from 13,955 flights and 97.75 per cent from 10,342 flights, respectively.

Thai AirAsia’s CEO Santisuk Klongchaiya said many airlines have been hit badly by the Covid-19 crisis as they have had to suspend or reduce flights.

However, he said, Thai AirAsia is always working towards maintaining its service quality, especially when it comes to safety and punctuality.

He added that Thai AirAsia has also scored seven out of seven in airlineratings.com safety rating.

Published : March 04, 2022

By : THE NATION

February headline inflation hits highest level in 13 years

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https://www.nationthailand.com/business/40013035


The headline inflation in February rose to 104.10 points, the highest in 13 years, the Trade Policy and Strategy Office announced on Friday.

February headline inflation hits highest level in 13 years

Ronnarong Phoolpipat, director of the Trade Policy and Strategy Office, said headline inflation in February was 5.28 per cent higher than in the same month last year and 1.06 per cent higher than in January 2022.

He said the increase in inflation was mainly because the prices of energy and foods and non-alcoholic beverages rose because of their rising cost.

Ronnarong said core inflation in February rose by 1.8 per cent year on year and 0.52 per cent month on month.

“The headline inflation in February was the highest in 13 years — since 2008. Inflation could increase by 4 to 5 per cent if energy prices continued to rise and if the global oil price was over US$100 [3,200 baht] per barrel,” Ronnarong said.

He reasoned that oil prices contributed to 62.26 per cent of the figures for calculating the inflation index.

Although the inflation index had risen, there were other indicators that the Thai economy would improve, Ronnarong said.

He said the rising demand for new motorcycles and vehicles, reflected in the rising registrations in January 2021, increase in farmers’ income, increase in property tax collections, and increase in investments by the public sector were indicators of an improving economy.

He said the inflation index will continue to rise in March, year on year, in line with the high energy prices and rising electricity rates. The rising energy costs and higher power bills would cause the prices of instant foods and food ingredients to continue to rise.

But he expected the inflation index would later be adjusted to a proper level because the prices of fresh foods, including pork, vegetables and fruits, had started to go down and the government is continuing to implement measures to reduce the cost of living.

Ronnarong said the Commerce Ministry expects the inflation index in 2022 to see wide fluctuation but the ministry would re-evaluate the situation and adjust inflation forecast at the end of March.

Published : March 04, 2022

By : THE NATION

Baht expected to fluctuate widely on Friday

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https://www.nationthailand.com/business/40013023


Krungthai Bank forecasts the baht will move between 32.45 and 32.65 to the dollar on Friday.

Baht expected to fluctuate widely on Friday

Krungthai market strategist Poon Panichpibool said the Thai currency is likely to swing in a wide range due to pressure from the Ukraine-Russia crisis, which is causing the dollar to strengthen.

However, the market’s risk-off condition is driving up the price of gold, causing investors to sell the precious metal which in turn was helping to support the baht, Poon said.

Meanwhile, investors purchasing Thai stocks in expectation of domestic economic recovery were also causing the baht to strengthen, he added.

The baht’s key resistance level will be 32.80 to 32.90 per dollar, while the key support level will be 32.20-32.40, Poon said.

The Russia-Ukraine war would encourage a risk-off state, which means markets will remain volatile. Poon said business operators should use hedging tools such as options to manage risk.

Published : March 04, 2022

By : THE NATION

SET expected to fall over 10% on Friday as war fallout hits US, Europe

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https://www.nationthailand.com/business/40013022


The Stock Exchange of Thailand (SET) Index is expected to fall to between 1,680 and 1,685 points on Friday amid tensions between Russia and Ukraine, Krungsri Securities said.

SET expected to fall over 10% on Friday as war fallout hits US, Europe

It added that sanctions on Russia had also hit US and European economies with rising inflation.

“However, the rising oil price would help boost the index,” Krungsri Securities said.

It recommends the purchase of the following as an investment strategy:

• PTTEP, PTT, TOP, SPRC and BCP will benefit from the rising price of oil and gross refining margin.

• HMPRO, GLOBAL, DOHOME, MAKRO, CPALL, CRC and CPN will benefit from domestic economic recovery.

• BDMS, INTUCH, ADVANC and DTAC, which are defensive stocks.

The SET Index closed at 1,696.08 on Thursday, up 6.27 points or 0.37 per cent. Transactions totalled 113.82 billion baht with an index high of 1,705.50 and a low of 1,691.20.

Published : March 04, 2022

By : THE NATION

Port Authority hoists revenue to Bt15.6 billion in 2021

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https://www.nationthailand.com/business/40013020


The state-run Port Authority of Thailand (PAT) has reported total revenue of Bt15.613 billion in 2021, up almost Bt1 billion from 14.632 billion in 2020.

Port Authority hoists revenue to Bt15.6 billion in 2021

PAT recorded a profit of Bt6.2 billion with expenses of Bt9.3 billion last year. Turnover was about Bt600 million higher than in 2020, said PAT director-general Kriengkrai Chaisiriwongsuk on Thursday.

Of total 2021 revenue, 70 per cent came from shipping, 12 per cent from marine transport, 9.54 per cent from land rental, 2.91 per cent from port services, and 4.89 per cent from other sources, Kriengkrai added.

Laem Chabang Port in Chonburi brought in the biggest chunk of revenue at 56.9 per cent, with 42.83 per cent from Bangkok ports and 0.27 per cent from ports in other provinces.

Port Authority hoists revenue to Bt15.6 billion in 2021

Thai ports handled 9.8 million TEU (twenty-foot equivalent unit) of containers via marine shipping, increasing from about 9 million TEU in 2020. Laem Chabang handled 8.4 million TEU, ranking 22nd in the world last year.

Phase three of the Laem Chabang Port project would see the port climb into the top 20 in the world this year, Kriengkrai said.

PAT aims to launch six other new projects in 2022 to boost efficiency of ports. These are the West Bangkok Port development project, construction of a road connecting Bangkok Port and Bang Na Expressway, building a railway container transport centre, the Ranong Port development project, the dry port development project, and the launch of a national shipping line.

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Published : March 04, 2022

By : THE NATION

Klongtom Salt Hot Spring — soaking in the world heritage of health and rehabilitation

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https://www.nationthailand.com/pr-news/business/40013008


“The number of hot springs known for their healing benefits has changed from time to time, but not all hot springs possess the properties to help alleviate physical and mental ailments.

Klongtom Salt Hot Spring — soaking in the world heritage of health and rehabilitation

“The number of hot springs known for their healing benefits has changed from time to time, but not all hot springs possess the properties to help alleviate physical and mental ailments. Thailand is blessed to have a remarkable and curative hot spring located in Klongtom district of Krabi province. Aside from its properties to treat poor mental health and unfavourable physical conditions, the hot spring is also unique for its naturally sparkling saline water.

The Klongtom Salt Hot Spring is considered one of the world’s five best hot springs with mineral saltwater following those previously found in Taiwan, Japan, Italy, and Malaysia.”

The above explanation was given by Dr Jiroch Sinthawanon, a former senior expert of the Office of Permanent Secretary, the Ministry of Public Health, when conducting a research study on hot springs in Thailand.

The publication, named “Safe and Healthy Hot Spring Bath”, was aimed at disseminating knowledge on the use of hot springs to create a good image where people can fully trust their benefits and safety, and maximise the standard of health tourism.

Jiroch added that “the temperature and minerals found in the Klongtom Salt Hot Spring are truly outstanding. The seawater seeps into the basement of the hot spring through rock layers to be filtered twice. As a result, the water retains only a light taste of salt unlike the strong salty taste of seawater as well as the smell of sulphur.”

The major mineral present is sodium chloride, while silica, potassium, and magnesium carbonate also exist in a higher proportion when compared to other hot springs. They are efficient in stimulating blood circulation, lowering blood pressure, reducing inflammation of the joints, treating diabetes and skin diseases, and nourishing the nervous and digestive systems.

At present, the alternative medicine industry has begun to rely more on salt hot springs with minerals to enhance the efficiency of modern medicine. With ever more scientific evidence proving the various benefits of salt hot springs, the desire and enthusiasm of physiotherapists and regenerative medicine specialists in introducing new treatment programmes for patients with various types of ailments has only accelerated.

Klongtom Salt Hot Spring — soaking in the world heritage of health and rehabilitation

“In the aspect of treatment, although no empirical research has been done in Thailand, Japan and some other foreign countries have successfully introduced physiotherapy and rehabilitation hospitals that focus on the use of hot springs as the main rehabilitation therapy, together with personalised treatment programmes designed for people of different ages and illnesses. The broader medical community possesses several academic information and references to support their achievements in rehabilitation care to align with the development of alternative medicine for better treatments,” Dr Jiroch said.

“Moreover, for Thailand, hot spring tourism has been included as part of the National Economic Development Plan to promote health tourism, particularly among the elderly. The Public Health Ministry is preparing to establish enhanced tourism standards for locations, improving safety and personnel operations to ensure the highest levels of tourism satisfaction, while always remaining eager to encourage both Thai and foreign tourists to revisit their ideal destinations. Currently, the enhanced standards are in the legal process and expected to be announced soon.”

Klongtom Salt Hot Spring — soaking in the world heritage of health and rehabilitation

Wichai Poolworaluk, president of Woraluk Property Plc, a leading real estate company in Thailand and a major developer of the Klongtom community in Krabi, shared that the use of salt hot springs was originally a rural way of life, which had been supported and supervised by the government agencies.

It was a word-of-mouth belief that salt hot springs could prevent and cure diseases. As they can draw a large number of visitors, it was always his objective to ensure that there is a significant positive impact on the Klongtom communities.

Wichai said, “As a real-estate leader, we want to be the one to transform people’s concerns into happiness backed by our standardised and trusted management. This had initially inspired us to work on the development of the Klongtom Heritage project. Situated on a vast area of over 200 rai (32 hectares),

the project is expected to make the Krabi province a significant health hub. The Klongtom Salt Hot Spring is considered a special gift, treasure, and heritage that belongs not only to Thai citizens but people all over the world. Therefore, effective operations and management, proper hygiene conditions, and several other related guidelines are required for the project to be in line with the highest global standards.

“During the first three years, we plan to achieve project planning and tourism zoning, which may vary in the patient zone, dependence zone, non-dependence zone, retirement zone, and pre-retirement zone. We are welcoming potential business investors with expertise in healthcare. We believe they have a strategic vision to help us fulfill the missing pieces of our business jigsaw, making Krabi province a new health hub with several fun-filled activities to satisfy health lovers from all over the world.”

He added, “In mid-2022, we will announce the establishment of a physical therapy hospital providing a comprehensive range of medical treatment and rehabilitation services for stroke patients. In addition to the advanced technology and cutting-edge equipment, our teams of professional doctors, nurses, therapists, and psychologists are ready to provide patients with the most excellent medical and health services, supported by the combined knowledge of traditional Thai and Chinese medicines and the outstanding properties of the Klongtom Salt Hot Spring, considered the first and most important jigsaw of the Klongtom Heritage project.”

In addition to bringing the distinctive properties of the saltwater hot spring to help boost the fertility of health, the project has also recognised the importance of Klongtom in various aspects, mainly involving the promotion and development of people’s quality of life.

The local residents will be offered greater job opportunities and a chance to earn a higher income, while the ecosystem and environment will play a vital role in making the community grow in a sustainable way. This will help people to improve and reinvent themselves, getting ready to upgrade their life to national levels, he said.

Published : March 03, 2022

Thai exporters’ FTA privileges utilisation in 2021 hits an all-time high

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https://www.nationthailand.com/business/40013005


The value of Thai exports under free trade agreement (FTA) privileges last year rose by 31.40 per cent to US$76.312 billion, the highest privilege utilisation, the Foreign Trade Department said on Thursday.

Thai exporters’ FTA privileges utilisation in 2021 hits an all-time high

Pitak Udomwichaiwat, director-general of the department, said the percentage of FTA privilege utilisation was as high as 78.17 per cent for exports from January to December 2021

The top three export markets with the highest use of FTA privileges were: Asean (US$26.28 billion – a 35.91 per cent increase), China ($25.327 billion – up 33.61 per cent), and Australia (US$8.47 billion, divided into Thai-Australian FTA of US$6.15 billion (a 23.19 per cent increase) and the Asean-Australia-New Zealand FTA of US$2.316 billion (a 16.49 per cent increase), Pitak said.

He said the top five export products with the most FTA privilege use were: heavy trucks with not more than five-tonne load; fresh durians; personnel transportation vehicles with engine capacity not exceeding 2,500cc; rubber products; and chicken meat and offal.

Pitak said the import of goods using FTA privileges in 2021 were valued at $44.871 billion, an increase of 28.51 per cent, and the percentage of FTA privilege utilisation was 25.63 per cent.

The importers used the FTA privileges the most with China, followed by Asean and Japan.

Pitak added that the GSP programme from the US ended in December 2020 and the US Congress is now deliberating a draft law to extend the privileges.

The bill is expected to be approved soon, but the conditions for granting trade privileges by the US government are expected to change, based on US priority for certain issues, such as environment and labourers, Pitak added.

Published : March 03, 2022

By : THE NATION

Thai economy likely to take indirect short-term hit from Russia-Ukraine war

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https://www.nationthailand.com/business/40013004


Thailand’s economy will suffer from indirect impacts of the military conflict between Russia and Ukraine, with reduced consumer confidence and higher cost of living, Thai Chamber of Commerce chairman Sanan Angubolkul said on Thursday.

Thai economy likely to take indirect short-term hit from Russia-Ukraine war

In addition to the short-term effects, he advised that the Thai government and businesses prepare for possible long-term impacts of worsening hostilities between the two countries.

“Short-term impacts will be limited for Thailand, but we will see them indirectly. Oil prices in the global market have exceeded $115 per barrel and could easily surpass $120. This has caused petrol prices in Thailand to rise 5-7.5 baht per litre,” Sanan said.

“This will certainly affect consumer confidence. People will be more careful about spending, as the prices of goods become expensive,” he added.

The chamber chairman noted that Thailand’s combined trade with Russia and Ukraine accounted for only 0.5 per cent of the country’s total exports and 0.9 per cent of total imports.

Thai economy likely to take indirect short-term hit from Russia-Ukraine war

Regarding a Western-led ban on Russian banks from the SWIFT system of international money transfers, Sanan suggested that Thai businesses consider payments through Russian banks that have not been banned and through China’s Chartered Institute of Procurement and Supply and a third country.

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication.

Sanan said chamber representatives had met with Ministry of Commerce officials on Wednesday to discuss this matter.

The group expected many Thai industrial sectors to suffer from the impact of the Russia-Ukraine war. Among them are animal feed, steel, automobiles, processed foods, cosmetics, jewellery, and tourism.

Sanan noted that Russia is a major buyer of Thai cosmetics and jewellery, and the market is growing. Also, Russians are the largest group of foreign tourists coming to Thailand following the relaxed Covid-19 immigration rules.

Due to the armed conflict, the number of Russian tourists expected to visit Thailand this year is likely to decrease by half — from an estimated 500,000 to only 250,000.

The chamber chairman also pointed to logistics issues, such as a potential shortage of shipping containers and higher freight charges caused by increased risks of shipping to the war zone.

He suggested that Thai exporters turn to land and rail transportation to Russia and Ukraine through their neighbouring countries.


Published : March 03, 2022