KBank Phnom Penh Branch wins ‘HR Asia Best Companies to Work for in Asia 2022’ award
FRIDAY, DECEMBER 30, 2022
KASIKORNBANK (KBank) Phnom Penh Branch general manager Ritthiwut Watthanachai represented the leading financial institution as it received the HR Asia Best Companies to Work for in Asia 2022 (Cambodia Edition) award.
The awards, which recognise organisations gaining a comparative advantage through their people development efforts, are organised by HR Asia magazine – Asia’s leading media for HR professionals.
KBank Phnom Penh Branch was honoured for its excellent human resource management, which focuses on the creation of a learning environment in the workplace, as well as the promotion of employee development and a spirit of teamwork for the sustainable career growth of all staff.
KBank expanded its service provision in 2017 by establishing the Phnom Penh Branch in the Cambodian capital.
In the more than five years since its inauguration, the KBank Phnom Penh Branch has adopted an operational format in alignment with the required international banking standards, with the aim of meeting the needs of local customers and benefiting Cambodia’s financial sector.
Despite the Covid-19 pandemic and economic slowdown, a quality team has enabled KBank to overcome the obstacles and challenges of recent years.
KBank has always adhered to the principles of operations based on the “World of Borderless Growth” through opportunities to learn and develop its capabilities, from hands-on operations, creating options for the path towards growth, based on its own needs, and achieving synchronised growth with a team that has the full potential to reach a common goal.
Siam Yacht Club – Bangkok’s new unique riverside hangout venue
FRIDAY, DECEMBER 30, 2022
Nongluck Ajanapanya
Now that Thailand has opened up to foreign tourists, Sheraton Hotels and Resorts is jumping on the bandwagon by offering a new attraction in Bangkok – the Siam Yacht Club.
Michael Schlueter, general manager of Royal Orchid Sheraton Hotel and Tower, told the press earlier this week that the aim is to turn Siam Yacht Club into a signature brand of the hotel.
With its unique menu and drinks created by master chefs and mixologists, as well as an astounding view of the Chao Phraya River, Schlueter reckons the Siam Yacht Club will soon become a key Bangkok attraction. He said it will also serve as a new gathering place for like-minded Bangkokians.
The restaurant, which is set to open in January, has proved to be popular since its soft launch this month, with most tables being reserved daily.
Schlueter said he believes 2023 will be very promising for the tourism and hotel industry, especially with more Indian and Saudi Arabian tourists arriving.
“Siam Yacht Club is a new place to provoke all the senses. It is what it says here: Get ready for a culinary and social experience like no other in Bangkok,” Schlueter said.
Sheraton Hotels & Resorts is part of Marriott Bonvoy’s portfolio of hotels in metropolises worldwide.
Siam Yacht Club is part of Sheraton’s new aim to offer everything from public space and food and beverage to flexible meeting spaces.
The restaurant is being opened in time to meet a surge in foreign tourists, especially now that China has decided to lift all travel restrictions and reopen its borders.
The Tourism Authority of Thailand believes Thailand will see more than 18 million tourists next year, generating some 970 billion baht in revenue. This estimate was declared before China announced it was lifting travel restrictions.
Nation Group eyes at least THB730m from rights issue to support expansion
FRIDAY, DECEMBER 30, 2022
Nation Group (Thailand) Plc’s board of directors has approved a rights offering of 10,847,920,965 shares at 0.53 baht each, the Stock Exchange of Thailand (SET) was informed on Friday.
Nation Group is aiming to raise at least 730 million baht from this capital increase, to be used as a revolving fund supporting future business expansion under the One Nation strategy.
The acquisition of Thansettakij secures Nation Group’s ownership of TMM’s print and online media, TV programmes, and events and seminars business.
Nation Group CEO Shine Bunnag said the board approved the capital increase and purchase of Thansettakij’s shares to strengthen the media group, as Thansettakij is acknowledged as a leading media entity in the country.
Nation Group is currently among Thailand’s strongest media organisations with a comprehensive stable of brands including Krungthep Turakij, Nation TV, Post Today, Nation Online, Kom Chad Luek, Spring Online, The Nation, OK Nation, Khob Sanam, The People, and Thansettakij, he said.
“The One Nation strategy highlights the strength of Nation Group. All media are synergized across all aspects: administration, personnel management, content management, and the use of innovation and new technology to produce high-quality news and knowledge to serve the public while adhering tightly to professional journalistic ethics,” said Shine.
NRF adjusting business, and changing strategy to support future growth
FRIDAY, DECEMBER 30, 2022
NR Instant Produce Public Company Limited (NRF) is a leading global manufacturer of sustainably produced foods and operates as a manufacturer and distributer of food seasonings, ready-to-cook foods, ready-to-eat foods and beverages, and plant-based proteins with products ranging over 2,000 SKUs and 500 recipes.
NRF was one of the first manufacturers to receive a certification for food manufacturing quality from the British Retail Consortium (BRC) and has also passed many quality inspections from regulators such as IFS Food, GMP and the FDA. Moreover, NRF distributes products to more than 30 countries around the world, such as the United States of America and many European countries.
In 2017, Mr. Dan Pathomvanich acquired the Company, and set a policy to make the Company become a leading manufacturer of future foods and investor in food innovations to create a sustainable food ecosystem. This October is the two-year anniversary of NRF being a public company and the company has adjusted its business strategy to 3 main businesses that all fall under the purpose of making food that regenerates the planet.
Business Group 1: Specialty foods; This business group emphasizes diverse product offerings. The Company offers food products under NRF’s brand that have unique flavors that are according to the consumer’s taste for traditional flavors such as those under the Por Kwan brand and for modern flavors and packaging, such as those under the brands Thai Delight and Sabzu with quality raw materials and production processes that meet international standard. Botany Petcare will focus on plant-based pet food products and market its product under its own brand and become an original equipment manufacturer (OEM) for exports to countries in ASEAN and beyond. Botany Petcare started production in August 2022 following production standards from the Department of Livestock Development.
Business Group 2: E-commerce and Food tech; NRF seeks to increase the Company’s product on online channels due to dramatic changes in consumer behavior after the Covid epidemic. Furthermore, NRF saw opportunities to expand our products through investments in businesses that are popular with online consumers. NRF has acquired Intellectual Prime Labs, WellPath, and SOL Trading which are best selling products on Amazon. Moreover, in Thailand NRF is collaborating with Winnergy Medical Public Company Limited as a strategic partner to be a distributor of products to leading online platforms in Thailand to support the growth of in demand products in an Aging Society.
Business Group 3: Climate Action Food Group: Food transformation; NRF aims to develop food businesses that reduce emissions as the vision of the company is to be a Clean Food Tech Company. This means that NRF will invest and develop into novel food industries that are a part of the fight against climate change such as plant-based foods. NRF has assigned Nove foods, a wholly owned plant-based food subsidiary, to enter a joint venture with Innobic (Asia) in order to launch “alt. Eatery” a plant-based restaurant, café and Mini supermarket at Sukhumvit road. In addition, following the mutual commitment of these two companies to fight climate change, the construction of a jointly invested factory to produce plant-based meat at a capacity of 3000 tons per year is continuing as planned. Moreover, NRF has signed a Moratorium of Understanding (MOU) with PTTOR to further expand the presence of “alt. Eatery”’ in Thailand in 2023.
Demand for Thai durian rising in China despite new Covid-19 wave
FRIDAY, DECEMBER 30, 2022
Demand for Thai durian in China is still strong, an exporter said on Friday dismissing rumours that orders had dropped due to a spike in Covid-19 infections in the mainland.
“The price and orders of durian are not dropping as some have speculated,” said Thanes Sangthaworn, general manager at Chumphon’s Morakot Central Fruit Market. “Chinese importers are actually ordering more to build their stocks ahead of the Chinese New Year, which falls on January 22, when consumption of the fruit is expected to soar.”
Thanes said that due to the high demand, the price of Thai durian has risen across the board compared to the previous week.
For instance, Mon Thong durians of AB and ABC grades are now going for 160 baht and 140 baht per kilogram respectively, up from 140 baht and 120 baht per kilo from last week. Grade C Mon Thong now goes for 110 baht/kg instead of 100 baht/kg last week.
“With the price rising 50 baht/kg on average, durian is still a very lucrative crop for farmers in the South,” he added.
Thanes reckons the export of durian to China will see fewer obstacles next year as China announced this week that it will scrap quarantine measures for overseas arrivals from January 8, as well as downgrade Covid-19 from a Class A to Class B infectious disease.
The Commerce Ministry estimates the total output of durian in the South this year will stand at 600,000 tonnes, 80% of which has already been sold locally and overseas. December marks the end of the harvest season for durian in the South and consumers have to wait until late February when durian farms in the East enter harvest season.
Massive investment planned for new Smart City in Eastern Economic Corridor
THURSDAY, DECEMBER 29, 2022
The government will invest 1.35 trillion baht to transform the eastern seaboard’s Eastern Economic Corridor (ECC) into a regional financial hub and a world-class smart city by 2037, deputy government spokesperson Rachada Dhnadirek said on Thursday.
In the first 10 years, the focus will be developing the business and financial area, regional business offices, government offices, medical facilities, and educational centres, she said.
This will be followed by creating a world-class smart city by 2037 to serve as a model for the development of smart cities across the country, Rachada added.
The smart city will be known for an innovative technological system that covers seven main areas: smart mobility, smart energy, smart environment, smart living, smart people, smart economy, and smart governance, she said.
The corridor spans three eastern provinces: Chon Buri, Rayong, and Chachoengsao.
Rachada said that most of the 1.35 trillion baht investment – 1.18 trillion or 87.5% – would come from the private sector, while 37.6 billion (2.8%) would be contributed by the Thai government, and the remaining 131.1 billion (9.7%) by state enterprises or joint ventures between the public and private sectors.
She said the 1.35-trillion-baht investment would expand gross domestic product by 2 trillion baht within 10 years.
The EEC smart city is expected to have about 350,000 residents by 2032, she said. At least 200,000 new jobs are expected to be created by that time. It will generate more than 1.2 trillion baht in salaries for employees and create between 150 and 300 start-ups, she said.
Ex-deputy minister slams Prayut government over failure to tackle rising household debt
THURSDAY, DECEMBER 29, 2022
A former deputy labour minister in the Cabinet of Prime Minister General Prayut Chan-o-cha on Thursday criticised the government for its lack of clear-cut measures to tackle household debt.
Narumon Pinyosinwat, who served in the second Cabinet of Prayut, said in her Facebook post that the government was only focused on debt moratorium measures and was providing new loans without a clear strategy to solve the problem.
As a result, she expects many families to remain trapped in their debt burden.
Narumon said the government should set a target for household debt at not more than 80% of gross domestic product (GDP) because a higher ratio of household debt would lead to a sluggish economy in the long term.
Narumon said all economic forecast agencies agreed that the global economy would slow down next year and it would affect the Thai economy, which would aggravate the household debt situation and affect economically vulnerable groups.
The impact of the global economic slowdown can already be felt in the contraction of exports by 6% in November and export growth for the year would slow down to 3.2%, compared to a 6% expansion last year, Narumon said.
The ex-deputy minister said the flood crisis in 2021 and the Covid-19 pandemic had aggravated the household debt situation from 80% of GDP in 2019 to 90% of GDP this year.
Suntory with National Blood Centre launch the “BRAND’S Young Blood”
THURSDAY, DECEMBER 29, 2022
Now in its 23rd year, the campaign – organized under the “Give Blood…Give Lives” concept – invites the new generation, especially university students to give the “gift of giving” by becoming new blood donors or making blood donations once every three months.
Other activities include short songwriting, singing, lip-syncing and dancing contests as well as the “TikTok Challenge” to win royal trophies, scholarships and other prizes. With roadshows and mobile blood donation centres to be located at academic institutes nationwide, the campaign expects to receive 90,000 donated blood units from across the country.
Associate Professor Dootchai Chaiwanichsiri, M.D. The Director of the National Blood Centre said “The main mission of the National Blood Centre, the Thai Red Cross Society in 2023 is to ensure the national blood supply is sufficient and of the best quality. And each year the Blood Centre expects to receive an estimated 2.5 million units of donated blood in response to the demand which rises by 8-10% annually,”.
Currently, Thailand still sees an unpredictable frequency of public blood donations and sometimes blood supply shortages such as during the Covid-19 pandemic when donations plunge significantly.
Therefore, it is important for the National Blood Centre to create a network of alliances to raise awareness and send messages across to encourage more people to make blood donations which bring about an adequate blood supply and sufficient blood reserve in case of emergency or other unavoidable circumstances where blood is urgently required for at least two to five days.
“Potential and sustainable donors – our main target group – are university students across Thailand as they still have many years to make blood donations. The campaign aims to raise awareness and understanding among Thai youth that blood donations are important and require mutual responsibility and that they can give the “gift of giving” by becoming new blood donors or regular donors who make blood donations once every three months. Their donated blood will become the national blood supply to be used in case of emergency. The campaign also encourages them to be socially responsible and to make voluntary blood donations without expecting anything in return. This year, the National Blood Centre expects to receive 90,000 donated blood units nationwide,” Dootchai said.
Mathuvalee Stithyudhakarn, Director of Regulatory Affairs and Corporate Affairs, Suntory Beverage & Food Thailand and Indochina
Mathuvalee Stithyudhakarn, Director of Regulatory Affairs and Corporate Affairs, Suntory Beverage & Food Thailand and Indochina said “Under ‘Giving Back to Society’ corporate value, Suntory organizes various activities to give back to the society both in terms of the environment as well as people’s health and wellbeing. The company, therefore, initiated the “BRAND’S Young Blood” campaign in collaboration with the National Blood Centre, the Thai Red Cross Society.”
In 2020-2021, the Blood Centre received 68,701 donated blood units under the campaign, a reflection of the power of giving among students and youth who truly had the volunteer spirit. Furthermore, Suntory also organized the BRAND’S Young Blood Game Creator contest under the topic of BRAND’S Young Blood Hero where participants were encouraged to create computer games, and present their concepts alongside audio and visual communication to create public awareness with regard to blood donations and the power of giving. The team I am Alone from Rangsit University won the top award from the computer game competition.”
Now in its 23rd edition, the BRAND’S Young Blood 2023 campaign also sends mobile blood donation units to various academic institutes and organizes roadshow activities to raise national awareness and to provide a space for university students to shine and be part of the campaign. Major activities include:
1. Short songwriting contest on the topic of “Give Blood…Give Lives”: University students aged 17-22 years old can use this opportunity to show off their songwriting skills to compose a song encouraging the young generation to make blood donations and to create the power of giving. The winner shall receive a trophy from HRH Princess Maha Chakri Sirindhorn, a certificate and a scholarship worth 30,000 baht as well as BRAND’S Essence of Chicken for one-year consumption. Entries can be self-submitted or sent by mail from 5 January to 31 March 2023. The winner will be announced on 31 May 2023.
2. “TikTok Challenge” dancing contest featuring “Give Blood…Give Lives” short song: University students aged 17-22 years old can now showcase their dancing skills and creativity by singing, dancing or lip-syncing “Give Blood…Give Lives” and post it on TikTok to create public awareness with regard to the importance of blood donations among the new generation. The winner shall receive a certificate and a scholarship worth 10,000 baht along with BRAND’S Essence of Chicken for one year of consumption.
The application can be sent by email via Project.nbc@redcross.or.th. Entries can be posted on TikTok from 1 June to 30 September 2023. The winner will be announced on 10 November 2023.
University students interested in joining activities in the campaign including blood donations can visit www.blooddonationthai.com and http://www.brandsworld.co.th or call 02-255-4567 and 02-263-9600 ext 1743 for more information.
CLMV, Mideast markets, future products crucial to business survival in 2023 slowdown: EXIM Thailand
WEDNESDAY, DECEMBER 28, 2022
EXIM Thailand has advised Thai businesses to stay adaptable penetrate CLMV and Middle East markets – which have strong prospects and demand for Thai goods – in order to survive and thrive in 2023.
The export-import bank said companies should develop products in response to global trends of the new era, leveraging EXIM Thailand and public sector mechanisms as tools for business development toward the Next Normal world. This would respond to expected 3.5% expansion of the Thai economy in the new year, against decelerating global economic growth of 2.7%, driven by recovery of Thai tourism and private sector consumption, while exports could slow down in line with global economic outlook, it said.
Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand, revealed that the Thai economy in 2023 tends to continue to grow by around 3.5% against the slowing global economic growth predicted by the International Monetary Fund (IMF) to 2.7%, the lowest in 21 years (excluding the years with crisis eruption).
Thailand is among only a few countries whose economic growth is on an upward trend compared to the foregoing year fueled mainly by the clearly improving tourism with foreign tourist inflows expected at more than 20 million, doubling that of the previous year, along with support from domestic demand, particularly private sector consumption which has expanded on the back of the increased farm income and improving employment in service sectors in line with tourism recovery.
Meanwhile, export which has for the past 2 years been the main engine in propelling the Thai economy has tended to slow down as reflected by EXIM Index which has consistently declined and hit the lowest level in 8 quarters.
Thai export in 2023 is forecast to expand by only 1-2%, decelerating from 7-8% in 2022, pressured by slowing global demand, particularly from Thailand’s major trade counterparts like the US and Europe which are at risk of falling deeper in economic recession, coupled with the slower than expected Chinese economic recovery.
Furthermore, global supply chain disruption, though having relieved to some extent, still carries high uncertainties, and the prevailing foreign exchange fluctuations as well as geopolitical tensions could inevitably dampen Thai export looking forward.
EXIM Thailand President said that there are certain ways for Thai entrepreneurs to make it through the global economic slowdown and capture opportunities in the markets where there is still room for Thai goods, comprising:
1. Penetration of the CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) and the Middle East markets, such as Saudi Arabia. In the first 10 months of 2022, Thai export to such markets recorded a growth of over 15% and 26% respectively.
2. Export of goods that would fill upmarket gaps, such as tourism-related goods like foods, fruits, cosmetics, home appliances, etc., and products that cater to conflicting countries in international politics, such as the export of Thai electrical appliances in substitution for Chinese ones in the US market, and the increasing relocation of production bases from China to Thailand for several industries, e.g. electric vehicles and electronics products. With such developments, Thai entrepreneurs should also be enabled to make a presence in the supply chains of the future.
3. Export of goods responsive to the trends of new generation consumers, such as wellness and eco trends which have become the New World Order.
Rak further said that EXIM Thailand is fully equipped to work alongside the public and private sectors to assist Thai entrepreneurs including individuals in doing business, capturing upcoming opportunities to drive business development in linkage with global supply chains, and developing strategies and product lines to cater to the demand of new generation consumers who support businesses conducive to sustainability in economic, social and environmental dimensions, and better quality of life and health of consumers toward balanced and sustainable development of all sectors.
“The year 2023 could still be embattled with numerous risks but fresh opportunities are poised to emerge in the markets where Thai goods could access with a competitive edge. EXIM Thailand is well-positioned to give advice and offer full-fledged financial solutions to strengthen Thai business sectors from individuals to community enterprises and business entities of all levels who aspire to expand their businesses beyond Thailand,”.
In view of this, it is easier today to do business on various online trade platforms. What really matters is business operators’ capability to adapt to and catch up with global advancement making the best use of mechanisms and supports from the public sector, including EXIM Thailand.
” We are committed to performing our role as Thailand Development Bank which dares to take ‘One Step Ahead for All Development’ to transform Thailand and the world at large into a better place of tomorrow for all,” added Rak.
The top three delivery trends in the coming year will be healthy foods, afternoon snacks, and subscription-based delivery service, according to the latest Grab study.
The “Delivery Trend Report 2022” surveyed behaviours and attitudes of over 30,000 users of the platform in six Southeast Asian countries – Singapore, Malaysia, Indonesia, Vietnam, and Thailand.
It found three big trends emerging as people move into the “new normal” post-pandemic lifestyle.
People are increasingly focused on their health and wellness, which is driving growth of associated products, said Chantsuda Thananitayaudom, senior director of Commercial & Marketing for Grab Thailand, in the report issued on Wednesday.
Healthy and plant-based alternatives are no longer niche, as 74% of Thais say they eat at least one healthy meal every two to three days, and 2 out of 5 consumers have tried plant-based in the last six months.
Meanwhile, as people return to the office, snack breaks at work have become a popular option for group activities. According to the report, 2 out of every 5 Thais snack at least once a day, and 64% admit to ordering snacks for more than one person.
The rising popularity of delivery services is driving up Grab revenue as calculated by delivery Gross Merchandise Value (GMV).
Chantsuda said Grab’s regional GMV soared by 24% in 2022 from last year, with 7 out of 10 consumers polled saying deliveries are now a permanent part of their lives.
“In Q2 2022, Grab’s total transacted delivery sales volume increased by 24% year on year, while average basket sizes of spending via GrabFood and GrabMart increased by 17% year on year,” she added.
Mathuvalee Stithyudhakarn, Director of Regulatory Affairs and Corporate Affairs, Suntory Beverage & Food Thailand and Indochina
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