The inclusion underlines CP Foods’ longstanding and strong commitment to environmental, social, and governance (ESG) efforts in line with Thailand’s “Kitchen of the World” strategy and United Nations’ Sustainable Development Goals, said Wuthichai Sithipreedanant, CP Foods’ senior VP for Corporate Social Responsibility and Sustainable Development.
Charoen Pokphand Foods (CP Foods) has been awarded a Silver Class distinction in the S&P Global Sustainability Yearbook 2022, placing it in the top 5 per cent of more than 230 best companies in the global Food Products sector.
The inclusion underlines CP Foods’ longstanding and strong commitment to environmental, social, and governance (ESG) efforts in line with Thailand’s “Kitchen of the World” strategy and United Nations’ Sustainable Development Goals, said Wuthichai Sithipreedanant, CP Foods’ senior VP for Corporate Social Responsibility and Sustainable Development.
Last year, the company launched CPF 2030 Sustainability in Action as a guideline for sustainable growth of business worldwide. CP Foods said the initiative’s key purpose is to create food security for a growing global population, using sustainable practices to mitigate environmental and societal impacts and solve global problems including climate change.
CP Foods said it had made multiple ESG efforts in recent years by adopting renewable energy, developing environmentally friendly packaging, sourcing raw material from responsible sources, and initiating waste-to-value projects to reduce food waste in business processes to zero by 2030.
The company said it is also helping conserve and restore watershed and mangrove forests, while increasing green areas in the workplace to protect biodiversity and mitigate its environmental footprint.
Central Retail Corporation (CRC) has launched a new business strategy, ‘CRC Retailligence’, to guide its growth ambitions for the next five years.
CRC seeks to power its success through four strategies with an investment of over Bt100 billion.
The company aims to increase the revenue by 2.5 times and will expand across business segments from food, fashion, hardline, property, to new businesses. CRC is also leveraging the ‘CRC Retailligence’ ecosystem to enhance customer experiences, the company said.
CRC’s chief executive officer Yol Phokasub said, “There are five emerging trends that are fundamentally changing and shaping our future, and we must be prepared to adapt to these changing customer behaviours and rapid digital transformation.”
The five key trends are:
A new consumer paradigm: Consumer behaviours and expectations are rapidly changing, physically and virtually.
Scaling in the era of digital acceleration: Technology is and will be the driving force in a changing world.
The future of wellness: Consumers will place importance on health and well-being, while technology is playing an integral role in daily living.
Partnership for inclusive growth: Strategic partnerships will become more focused on driving success and growth.
Sustainability agenda for all: Commitment to improve society and operate with sustainability at the core will rise in importance and will bring value to stakeholders
“Central Retail will continue to lead in reshaping the retail industry by leveraging the ‘CRC Retailligence’ strategy and the CRC Data ecosystem to fulfil consumer needs, both in the physical and virtual world,” Yol said. “By offering products and services through hyper-personalised experiences, Central Retail leverages data to unlock customer insights to deliver ‘Now Moment’ experiences in real-time, creating more personal experiences and inspiring moments. And by delivering experiences that merge online and offline worlds via next-gen omni retail, we aim to be the retailer who truly knows and understands our customers, shaping the future of retail in a way that’s never been done before.”
Central Retail said it is employing four strategies:
Reinvent next-gen omni retail – Elevate omnichannel platforms by merging physical and virtual worlds, and leveraging digital technologies to deliver next-level shopping experiences across all business segments from Thailand, Vietnam to Italy.
Accelerate core leadership – Accelerate growth across CRC’s core businesses, both locally and globally, and capture new opportunities to grow with world-class partners.
Build new growth pillars – Capture new opportunities by starting with the wellness segment followed by other segments that tap into global trends and consumer needs.
Drive partnership, acquisition and spin-off – Expand the business under the concept of inclusive growth, inspiring success with partners and enabling value-led sustainability.
Central Retail aims to unlock new growth across dimensions with an investment of 100 billion and has set ambitious targets for 2026:
Drive revenue growth by 2.5 times
Increase earnings before interest, taxes, depreciation by 3.5 times
Grow market capitalisation by 2.5 times.
“Three years ago, we set out to be the No. 1 regional omnichannel retailer. And today, the new strategy has proved to be a resounding success, which is a testament to Central Retail’s DNA powered by unwavering strength, optimism and boundless potential,” Yol said. “We are ready to move forward with ‘CRC Retailligence’ that prioritises the environment, society and good governance as the key cornerstones in operating our business. Today, we are confident in our capabilities to achieve our growth targets set for the next five years,” Yol added.
Dtac and the Industry Ministry joined hands on Monday to launch the Creative Industry Village (CIV) project, aiming to generate 250 million baht for local communities in the next two years.
CIV will harness cultural tourism and digital technology in 152 villages to boost individual incomes and local economies.
To achieve this goal, the Industry Ministry has partnered with dtac Net-for-Living to allow locals to promote their villages as tourism destinations by selling products, food and accommodation online.
Dtac will provide digital training, equipping rural entrepreneurs with online marketing skills including product photography and social commerce. The mobile operator boasts Net-for-Living can increase incomes by 40-50 per cent by allowing small businesses to build a digital presence.
Dtac is also expanding its 700MHz network to the targeted villages, ensuring they have suitable voice and data services.
Thirdly, dtac said it will promote the villages’ entrepreneurs to its 19 million customers through the operator’s reward programme. The dtac programme provides freebies and discounts at over 30,000 outlets all over the country. It also regularly features small restaurants and vendors to boost their incomes.
The Industry Ministry expects CIV to boost the number of tourists to rural destinations by 68 per cent and product sales by 76 per cent.
The Electricity Generating Authority of Thailand (Egat) will build its second hybrid hydro-solar power plant at the Ubolratana Dam in Khon Kaen province, Egat deputy governor Prasertsak Cherngchawano said.
Prasertsak said the solar electricity generating facility will be built on the dam’s reservoir and its solar panels will be capable of generating 24 megawatts of power to feed into the hydro-power plant of the dam.
The solar system will be equipped with a BESS (Battery Energy Storage System) so that the Ubolratana power plant would be capable of feeding power to the grid system continually with stability, the deputy governor added.
Prasertsak said that Egat had decided to add the solar-cell function to its Ubolratana power plant after the success of its hybrid hydro-solar power generating project at Sirindhorn Dam.
The solar panels were built on the Sirindhorn Dam’s reservoir to generate 45 megawatts of power that has already been fed to the national power grid for commercial use since October 31 last year.
Prasertsak said the hybrid system at the Sirindhorn Dam created power generating stability and the floating solar panels did not cause any environmental and ecological damage to the reservoir.
The deputy governor said Egat has a development plan to achieve carbon neutrality by using reusable clean energy. He said the two hybrid power plants at the two dams would be able to help Egat reduce carbon emissions by some 47,000 tonnes a year.
The study of the second floating solar panel project at the Ubolratana Dam would also be used to expand the hybrid power-generating projects at other dams, Prasertsak added.
He said Egat is selling bidding documents to companies interested in installing the floating solar panels at the Ubolratana Dam and the bidding envelops will be opened for consideration on March 9.
In 2022, XSpring will move deeper into the digital asset business via its subsidiary XSpring Digital, operator of the Initial Coin Offering (ICO) Portal.
After announcing its achievements in 2021, XSpring Capital Plc (XSpring) said on Monday that it is moving towards its goal of “One-Stop Financial Solutions” this year. The company’s president Varangkana Artkarasatapon said 2021 was a successful year for the company. It was a “business expansion phase” that involved the deployment of several new service channels, the introduction of more financial services and significant investment in new technological platforms to pave the way for XSpring to become the provider of “One-Stop Financial Solutions”. “XSpring does not only focus on the local market, but it also plans to connect Thailand to the world with its advanced ecosystem, helping investors to look for diversified investment opportunities in one place,” Varangkana said. This year, the Thai economy is expected to rebound on the back of domestic recovery, while retail and institutional investors are looking for new investment opportunities. These offer a good facet for XSpring, given its focus on the two core businesses – asset management and digital asset.It will boost investment in the Asset Management Company (AMC), which has high growth potential, and other related units.
Capitalising on investment Holding several licences at the same time is one of the company’s strong points, giving it the advantage of offering various investment opportunities, especially digital assets which are becoming increasingly popular among modern investors. XSpring has been granted a set of 17 licences, which hold the key to driving its expansion here and overseas. Supported by its expertise in investment advisory and a leveraging comprehensive ecosystem, XSpring is set to grow in tandem with the financial gains of investors.
Targeting one-third market share In 2022, XSpring will move deeper into the digital asset business via its subsidiary XSpring Digital, operator of the Initial Coin Offering (ICO) Portal. The company successfully helped clients in the first issue of the real-estate backed ICO in Thailand last year and plans to be involved in the launch of four to six ICOs this year. The Securities and Exchange Commission (SEC) last year granted XSpring Digital four more licences for cryptocurrency brokerage, digital token brokerage, and dealer licences for cryptocurrency and digital token. “These will enable the company to become Thailand’s first one-stop service provider in areas of financial and digital asset investment, as well as link Thailand to the global capital market,” Varangkana said. The group aims for one-third of the local market share, underpinned by robust operation and strengthened by its cryptocurrency brokerage service that will tap into global liquidity. To this end, XSpring Digital will work with Coinbase, a US-based leading digital exchange platform and digital asset custodian to create an integrated service system. The services will be available in the first quarter of this year. At the same time, XSpring gives high value to asset management and plans to expand the business, especially in the new area of digital asset fund manager. “XSpring expects to secure a digital asset fund manager’s licence from the SEC in the second quarter of 2022. It will then be able to offer investment opportunities via various types of investment funds to investors and to the public at large,” Varangkana said. The licence will also allow XSpring to engage in securities brokerage, securities dealing, and securities underwriting of investment units.
Boosting investment in AMC, bidding for NPLs AMC has high growth potential this year and XSpring plans to bid for more non-performing loans (NPLs) with a total outlay of 1 billion baht. It will jointly manage investments with Sansiri Plc, a strategic partner. NPLs are on the rise, giving AMC a bigger role in tackling the issue of distressed assets and improving market efficiency. XSpring group’s AMC business will focus on the management of bad loans backed by collateral such as houses and condominium units.
Deploying green investment strategy This year, XSpring foresees green investment opportunities in light of corporate and social sustainability goals. The group also expects to benefit from joint investments with large corporations in other regions and gain from knowledge sharing in such activities. XSpring has earmarked 10 per cent of its total investment portfolio for this purpose. Recently, it has invested in Sharge Management (SHARGE), a charging service provider for electric vehicles (EV). “SHARGE provides integrated service with its European standards equipment, ensuring user safety from the risk of high voltage. The company also offers after-sale service, managed by professionals providing optimal solutions to customers nationwide,” Varangkana explained. “SHARGE has collaborated with real-estate companies, carmakers, shopping malls, and energy enterprises in the creation of an ecosystem covering all aspects of consumer behaviour: EV charging at home, charging stations and charging points at their travel destinations.” XSpring has also invested in Cibus Enterprise Fund II, a venture capital fund. Recently, it established a joint venture with King of Gamers Club, a subsidiary of Kantana Group Plc, to develop mobile apps for entertainment, advertising, and related marketing activities. This new venture awaits contract signing for the establishment of a new company with XSpring holding 61.54 per cent of total shares. This year, XSpring is committed to all investment opportunities with high growth potential. With prudent plans for the platforms in place, designed to underpin the business foundation, combined with a team of professionals with the vision of investment opportunities in global finance, XSpring expects to see revenue exceeding 1 billion baht this year. “Our road map for 2022 is to capitalise on our strength of “One-Stop Financial Solutions” and contribute to the ultimate goal of developing the Thai capital market as well as widening the range of investment tools to new products with high growth potential,” Varangkana said. These will enable the XSpring Group to become an integrated traditional and digital finance service provider while allowing everyone to conveniently access finance and investment opportunities. “It will also give people access to comprehensive investment information while building transparency and trust in the company’s ecosystem. Our executives and professional team with extensive experience and expertise will provide integrated financial services to all,” Varangkana added.
The Mineral Fuels Department said on Tuesday that it had generated income of Bt103.58 billion for the government in 2021.
Mineral Fuels director-general Sarawut Kaewtatip said the department had received Bt53.637 billion in revenue from oil and gas field concessions and returns from the Thai-Malaysian joint development project.
The remaining Bt49.948 billion revenue came from revenue taxes collected from the oil and gas fields’ concessionaires.
He said his department would this year call for bids for oil and gas prospecting firms to survey three more fields in the Gulf of Thailand – G1/65 field with 8,487.20 square-kilometre area, G2/65 field (15,030.14 square kilometres) and G3/65 field (11,646.67 square kilometres).
Sarawut said the new projects were yet to be approved by Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow before the bids would be called.
The department expects the new fields would compensate for the declining crude oil and gas reserves.
Sarawut said the department estimated investments of about Bt1.5 billion in the new fields, and natural gas and oil from the new sites could be sold within 2026.
Sarawut said the department is also coordinating the transfer of the Erawan field of the G1/61 plot from the original concessionaire, Chevron Thailand Exploration and Production Ltd, to the new contractor, PTT Exploration and Production Pcl. The original concession will expire in April 2022. The PTTEP will operate the field under the production sharing contract.
“It’s believed that within one and a half years, the PTTEP will be able to increase its production of natural gas in the Erawan field to 800 cubit fee per day, which will be sooner than the original two-year transitional period,” Sarawut said.
He said the department is also supporting the government’s policy of trying to reduce carbon emission by cooperating with concessionaires and agencies concerned to try the Carbon Capture and Storage technology. The technology is aimed at capturing emitted carbon from oil and gas fields and store it under rock layers under the sea.
The baht opened at 32.87 to the US dollar on Wednesday, strengthening from Tuesday’s close of 32.93.
The Thai currency is likely to move between 32.80 and 33.00 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.
Poon said the baht was likely to swing sideways before US inflation results from its Consumer Price Index to be released on Thursday.
Investors should watch Thailand’s Monetary Policy Committee meeting, especially its opinion on inflation in the country and pressure from central banks, especially the US Federal Reserve, to increase the policy interest rate, he said.
If the MPC is worried about inflation or pressure from a planned increase in the US interest rate, the committee might also increase its rate, which would cause the baht to strengthen, Poon believed.
He said the baht would not strengthen much until there is a new factor to support the Thai economy or help the market take risks.
He also felt the Thai currency would not strengthen much because importers are waiting to sell the dollar when it hits 32.80 to 32.90, while foreign investors are waiting to offload the baht.
The Stock Exchange of Thailand (SET) Index is expected to rise to between 1,690 and 1,700 points on Wednesday on foreign fund inflows after the Ukraine crisis began to ease, Krungsri Securities said.
It said mass buy-ups of company shares that are expected to grow based on their business turnover last year and the Centre for Covid-19 Situation Administration’s (CCSA) move to ease disease prevention measures this week would help boost the index.
“However, the index would be under pressure due to mass share sell-offs to reduce risks from a US announcement of its January consumer price index on Thursday,” Krungsri Securities said.
It recommends the purchase of the following companies’ shares as an investment strategy:
• BBL, KBank, KTB, BLA and THREL, which benefit from news of a US interest rate hike.
• AOT, Mint, Centel, ERW, AAV, HMPro, CPAll, CPN and CRC, which would gain from the CCSA’s move to ease Covid-19 prevention measures this week.
• IVL, Top, SPRC, Gulf, Banpu, TU, CPF, SPALI, ORI, WHA, Amata, HMPro, CPN, CRC, BLA, JMT, Singer, JMart, Wice, NER, Itel, XO, Ask, UBE, Forth, TH and SNNP, that are expected to grow based on their business turnover last year.
The SET Index closed at 1,684.23 on Tuesday, up 6.99 points or 0.42 per cent. Transactions totalled 84.62 billion baht with an index high of 1,685.14 and a low of 1,677.48.
Blue By Alain Ducasse also won the “Best of the Year Award” in the fine dining category from Interior Design magazine, the most influential authority in the design industry worldwide.
Siam Piwat Co Ltd, the world’s leading retail property developer and joint owner of Iconsiam shopping complex, marked another milestone in Thailand’s retail history with Blue by Alain Ducasse, the Michelin-starred restaurant at Iconsiam, winning the prestigious Le French Design 100 award.
The awards that honour French designers for their work outside France is another accolade on the list of international awards for Thailand, further bolstering its reputation on the global level.
The award ceremony at France’s Presidential Palace was attended by French President Emmanuel Macron and his wife Brigitte Macron, Minister of Culture Roselyne Bachelot-Narquin, Hervé Lemoine, the head of the jury, and guest of honour Philippe Starck. At the ceremony, Jouin Manku, a leading French design agency, was honoured with the Le French Design 100 award for its design for Blue By Alain Ducasse at Iconsiam in Bangkok.
Chadatip Chutrakul, chief executive officer of Siam Piwat Group and director of Iconsiam, said, “Blue by Alain Ducasse is another business born out of our key philosophy to deliver experiences beyond expectation. Our intention was to invite one of the world’s best-known chefs to open a restaurant here in Thailand to deliver a first-ever experience and bolster Thailand’s position as one of the world’s top gastronomic destinations. That is why Blue by Alain Ducasse is exclusive to Thailand. We worked closely with Alain Ducasse and Jouin Manku, the French design agency that meticulously oversaw every detail of the interior design to bring the ultimate dining experience and a unique aesthetic to life.”
Chadatip Chutrakul, Chief executive officer of Siam Piwat Group and Director of Iconsiam
A vital element of Iconsiam, Blue by Alain Ducasse is Thailand’s first-ever world-class contemporary French restaurant by legendary Alain Ducasse recognised with an astounding 21 Michelin stars. Prominently positioned on the coveted Chao Phraya riverfront with unparalleled panoramic views, the restaurant has since its opening in 2019 become a prime destination for epicures and gastronomes. Ever since, it has delivered world-class French cuisine using the finest ingredients and has been awarded one Michelin star for two consecutive years.
Blue By Alain Ducasse also won the “Best of the Year Award” in the fine dining category from Interior Design magazine, the most influential authority in the design industry worldwide.
The Le French Design 100 award that Jouin Manku has won for Blue by Alain Ducasse marks the first global accolade in 2022 for Siam Piwat and Iconsiam and highlights their continued success in creating experiences beyond expectation.
Over the years, Iconsiam has garnered 13 global awards at various world-class competitions, including the “Best Design of the Year” at the World Retail Awards 2019 hosted by the World Retail Congress, the first prize in the Best Shopping Centre category at the MAPIC Awards 2019 in Cannes, France, the 2020 VIVA Best-of-the-Best Design and Development Award, and being ranked in the top four in the Best Shopping Centre Category at the MIPIM Awards 2021.
The five condos and two housing projects have a total value of 12.4 billion baht and revenue recognition of 6 billion baht. The company expects them to help drive sales revenue above 10 billion baht this year.
AssetWise has unveiled seven new projects for 2022 under a “Wind of Chance” strategy that includes expansion beyond real estate.
The five condos and two housing projects have a total value of 12.4 billion baht and revenue recognition of 6 billion baht. The company expects them to help drive sales revenue above 10 billion baht this year.
The 2.2-billion-baht Atmoz Bangna project sees Assetwise collaborating with Japan’s Takara Leben.
Meanwhile the company said it strengthened its position with the acquisition of condominiums in the Ratchada–Sutthisan area, including the Maxxi Prime Ratchada-Sutthisan from Maxxi Premier One.
AssetWise said it is also expanding into so-called entertainmerce and the healthcare sector. It has partnered with RS, Fourth Apple and Future Competere to launch Popcoin, a smart marketing platform for entertainmerce.
It has also joined hands with Doctor A to Z, the online health service technology platform, to offer residents round-the-clock healthcare services as part of the “new normal” lifestyle. The platform was fully operational in January this year.
Meanwhile AssetWise plans to partner with eldercare leader Bangkok Healthcare Service (BHS) to open a rehabilitation centre offering health assessments, treatment, and rehabilitation.
AssetWise CEO Kromchet Vipanpong said the company was committed to expanding beyond real estate and finding new business opportunities.
By the end of 2021, the company had developed 38 projects worth more than 38 billion baht. It said 29 had been completed and delivered while nine are at the sales and construction stage.
Chadatip Chutrakul, Chief executive officer of Siam Piwat Group and Director of Iconsiam
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