The Cabinet will keep financial institutions’ annual fees paid to the government low for another year, deputy government spokesperson Ratchada Thanadirek said on Tuesday.
The payment rate will be maintained at 0.23 per cent from 0.46 per cent until the end of 2022 as proposed by the Finance Ministry. The move aims to ease the financial burden on commercial financial institutions, so they can support businesses and people affected by the pandemic more effectively.
The Stock Exchange of Thailand (SET) Index closed at 1,630.39 on Tuesday, down 13.53 points or 0.82 per cent. Transactions totalled 96.54 billion baht with an index high of 1,649.66 and a low of 1,627.12.
The index fell sharply after rising by 5.58 points or 0.34 per cent on Monday.
In the morning session, Krungsri Securities forecast the SET Index on Tuesday would fluctuate between 1,635 and 1,655 points.
It said the index still gained positive sentiment from rising oil price and hopes over Thailand economic recovery after the country reopening on November 1.
“However, uncertainty over inflation, the US Federal Reserve’s plan to taper its quantitative easing programme this year and signs of stock downward trend would pressure the index,” Krungsri Securities said.
The 10 stocks with the highest trade value today were HENG, KBANK, SCC, AOT, BANPU, TRUE, PTT, CPALL, ADVANC and GULF.
Japan’s Nikkei Index closed at 29,215.52, up 190.06 points or 0.65 per cent.
China’s Shanghai SE Composite closed at 3,593.15, up 25.02 points or 0.70 per cent, while the Shenzhen SE Component closed at 14,499.77, up 149.75 points or 1.04 per cent.
Hong Kong’s Hang Seng Index closed at 25,787.21, up 377.46 points or 1.49 per cent.
South Korea’s KOSPI Index closed at 3,029.04, up 22.36 points or 0.74 per cent.
Taiwan’s TAIEX Index closed at 16,900.67, up 195.21 points or 1.17 per cent.
The startup direction in the future by prominent entrepreneurs in Thailand to share his experiences.
Jirayut Srupsrisopa, Founder & Group Chief Executive Officer of Bitkub, will join the seminar on the startup direction in the future by prominent entrepreneurs in Thailand to share his experiences.
See you at our informative & exciting “Virtual Forum: Thailand Startup in the Post-Covid Era” on October 29, 2021, from 2PM to 4PM
The Nation Thailand and Springnews invite you to listen and discuss the direction of Thai startups in the virtual seminar.
The Nation Thailand and Springnews invite you to listen and discuss the direction of Thai startups in the virtual seminar “Thailand Startup in Post Covid Era 2022”.
• Special talk on “Startup Experience in Australia” by Allan McKinnon, Australian Ambassador to Thailand
• Seminar on the startup direction in the future by prominent entrepreneurs in Thailand
BGRIM, a Thailands leading industrial power producer, gained recognition from the Stock Exchange of Thailand (SET) as being “sustainable” in nature in the Resources group for 2021.
B.Grimm Power PCL (BGRIM) has maintained its leading position as a listed company with sustainable operations.
BGRIM, a Thailand’s leading industrial power producer, gained recognition from the Stock Exchange of Thailand (SET) as being “sustainable” in nature in the Resources group for 2021.
It is the fourth consecutive year that BGRIM has been honoured with the title in the Thailand Sustainability Investment (THSI)’s list of 146 companies on SET with sustainable business operations.
“The honour has once again underpinned our commitment to conducting business with responsibility for the environment, society, as well as the adherence to good corporate governance principles in line with sustainable development guidelines,” said Dr. Harald Link, Chairman and President of BGRIM.
In addition to being included in the THSI 2021 list, BGRIM has also earned awards from leading local and global organisations involving in promoting sustainability. This reinforces the business philosophy of B.Grimm group, the 143-year-old parent of BGRIM, in “Doing businesses with compassion” to benefit people, society and the environment.
The honours BGRIM has garnered so far this year include an A rating from the MSCI ESG Rating, being named a member of the FTSE4 Good Index Series for the second year in a row, and being part of ESG 100 group of securities from the Thaipat Institute for four consecutive years.
Dr. Link noted that in the midst of challenges both in terms of the economy and the crisis caused by the Covid-19 pandemic, BGRIM continues to operate its business with compassion. The company has applied the crisis management to deal with such hostile situations by leveraging on its experience and expertise in producing high-quality power and offering one-stop service.
In parallel, BGRIM is pursuing digital transformation to create long-term growth and value for all stakeholders. It is also driving towards becoming a net-zero carbon emissions organisation in 2050.
Mr. Lawrence Ng, Vice President of Sales, Asia Pacific Japan, Aspen Technology sees that the post pandemic, or the new normal, is an excellent time for Thai process and capital-intensive companies to accelerate profitability and sustainability via innovation focused on digital transformation.
Q1. Competition is intense between technology companies. What advantages does Aspen Technology have over its competition and how does the company ensure consumer confidence?
Answer: Built upon the research developed at the MIT ASPEN Project, in response to the 1970s energy crisis, Aspen Technology was started in 1981. Today, 40 years later, the company has gained significant domain expertise in capital-intensive industries and offers an innovative Industrial AI solution that separates itself from more generic AI approaches.
Industrial AI is just the beginning, this disruptive innovation is well positioned to guide innovation and efficiency improvements in capital-intensive industries. This highly scalable capability enables general engineers to leverage machine learning, without being advanced data specialists or specialist engineers. Customers are confident in choosing AspenTech because of its unmatched domain expertise – we understand the industry from a time-proven perspective.
The horsepower that works comes from the fact that AI algorithms represent only 5% of the software source code, with the remaining critical 95% derived from domain expertise. Process and capital-intensive companies can confidently choose AspenTech, to reap rewards in both profitability and sustainability – via accelerated digitalization.
Q2. What are the highlights and key features in software management now and in the future?
Answer: With aspenONE V12.1 software, AspenTech has extended Industrial AI across its leading solutions to drive higher levels of profitability and sustainability in customer operations. The Industrial AI Workbench enables data scientists to collaborate with domain experts to develop AI apps, based on enterprise-wide data.
With First Principles Driven Hybrid Models, AI is directly embedded into Aspen HYSYS and Aspen Plus process simulations, enabling engineers to easily build operations-ready models calibrated with relevant plant data. In addition, Reduced Order Hybrid Models can be shared across engineering, planning, and dynamic optimization solutions to improve the accuracy and predictability of these applications. Furthermore, Deep Learning APC can deliver more accurate and sustainable models that cover a broad range of operating conditions. Together, these advanced capabilities deliver the next generation of operational excellence.
aspenONE V12.1 offers new software models that enables customers to optimize biomass processing, hydrogen production, carbon capture, and carbon emissions more accurately and systematically, focused on reducing environmental impact. New analysis and visualization capabilities can help reduce measurable waste and energy use, throughout the process from lab to production.
AI-driven 3D conceptual layouts with the introduction of Aspen OptiPlant and Aspen OptiRouter, are now integrated into the AspenTech portfolio. For industries, such as pharmaceuticals (under pressure for a faster time to market), Aspen Unscrambler, Aspen Unscrambler HIS and Aspen Process Pulse, ensures product and process quality by solving complex problems using multivariate analysis to drive more profitable processes, less deviation, and higher yield.
Companies can accelerate their digitalization journey and leverage Industrial AI to make progress toward the Self-Optimizing Plant, while increasing margins, achieving sustainability and reliable, safe operations, as well as reducing capital cost and time in bringing assets online.
Q3. How can software or artificial intelligence systems installed in plants and companies be improved? How much does it cost to upgrade these systems and what is the value derived?
Answer: Companies should focus on the value they derive, or return on investment. For example, AspenTech’s customer, BPCL, an oil and gas giant, uses digital twins to track emissions and the resulting data generated helps identify trends; correct errors; optimize production; as well as reduce carbon emissions. As a result, BPCL saved about USD 600K a year, increasing profitability, and achieving sustainability.
Locally, in Thailand, petrochemical company, Vinythai, has selected Aspen Mtell software, to achieve business sustainability via embedded AI. In doing so, the company can accelerate digital transformation, reduce failure, and improve reliability by deploying predictive and prescriptive maintenance software at its petrochemical plants locally. With this solution, companies can mine historical and real-time data to predict future failures and prescribe detailed actions to mitigate or solve problems via predictive and prescriptive maintenance.
Q4. What software or AI innovation will impact the future of businesses and how they are managed?
Answer: Accelerated digitalization will impact the future, as companies with the ability to balance profitability and sustainability can address the dual challenge more efficiently. The dual challenge mandates the need to address resources for a growing population with increasing standards of living, while balancing the need to meet sustainability goals. For example, in the new normal, supply chain management is critical, as sustainability and resiliency are two sides of the same coin.
FPCO, Japan’s largest manufacturer of food containers, and a logistics supplier, is one company that can achieve this critical balance. FPCO is committed to environmental advancement, avidly recycling used food containers and PET bottles. With more than a billion containers sold each month, selling recycled products needed to be an economically sustainable activity. The company chose aspenONE Supply Chain Management (SCM) to provide stable and responsive food distribution in an efficient, sustainable, as well as environmentally friendly manner.
In the new normal, Industrial AI can help companies navigate increasingly complex supply chain options and decisions. Momentum from rapidly changing global carbon mitigation necessitates focus on energy transition across Asia. Leading process companies are also augmenting production optimization with Industrial AI. A new class of workforce enablement technology is created, as predictive maintenance enables organizations to gain increased flexibility in maintenance.
Hybrid models combining rigorous and AI-driven models are increasingly required to optimize complex operations, more accurately and autonomously, especially for energy transition technology options. For capital projects, estimation and project progress transparency can unlock value. To manage project risk efficiently, it is necessary to visualize, analyze benchmark and share data to increase speed and certainty. The result is a more agile, collaborative, and informed asset design – with a seamless and more predictable execution process.
Q5. What should businesses be most concerned about post-pandemic and how can Aspen Technology support businesses with regards to the outlined pain points?
Answer: Post pandemic, or the new normal, is an excellent time for Thai process and capital-intensive companies to accelerate profitability and sustainability via innovation focused on digital transformation. For example, skills shortage will be a critical issue, as industry downsizing whittles down valuable domain expertise. With most data scientists being relatively new on the job, the use of digital tools and analytics looks to be on the rise, especially solutions that accelerate collaboration between the new wave of data scientists and technical domain experts.
Cost and carbon footprint reduction will remain high on the agenda. A shift in refining production mix towards chemical feedstocks is expected, as growth in chemicals is expected to account for half of the near-term demand growth for oil in Asia. Mega integrated plant projects can address changing market demands efficiently and industry trajectory shifting from oil to gas consumption continues. Natural gas and renewables can address increasing demand for electricity, and the hydrogen economy is an emerging dimension. As these new energy areas gain momentum post pandemic, rapid and powerful early concept design is crucial for the techno-economic analysis to ensure a profitable asset lifecycle.
AspenTech’s vision for the Self-Optimizing Plant is a fully digitally enabled asset that is self-learning, self-adapting, and self-sustaining. Customers want to build more agile organizations. At the enterprise level, companies need to stitch together increasingly intelligent assets into more agile and responsive value chains. This Self-Optimizing Plant capitalizes on data to generate knowledge and Industrial AI provides companies the massive ability to learn, unlearn and relearn. Thus, Industrial AI can be viewed as a strategic business weapon, combining the power of analytics and AI machine learning, with crucial guardrails of domain expertise, to extract value from industrial data.
Marriott Bonvoy unveils a food-focused domestic vacation this winter, free breakfast, generous credit and bonus points at hotels and resorts in many of the Kingdoms most desirable destinations
Which part of your vacation do you look forward to the most? In Thailand, many of life’s most magical and memorable moments revolve around food, friends and family.
To celebrate the twin pleasures of travel and gastronomy in Thailand this winter, Marriott Bonvoy has unveiled “Earn, Eat, Enjoy”, a rewarding new promotion that gives local residents the chance to experience exceptional hotel stays including daily breakfast and up to THB 2,000 of hotel credit, in a wide range of desirable destinations all across the Kingdom.
Marriott Bonvoy members will also be treated to complimentary Wi-Fi and bonus points on every stay! Not a member yet? CLICK HERE to sign-up for free!
This winter is a wonderful time of year to travel in Thailand. Whether you’re seeking a blissful beachfront break, a relaxing upcountry retreat, a fun-filled family holiday or a stylish staycation in the city, every guest can “Earn, Eat, Enjoy” with Marriott Bonvoy.
Earn, Eat & Enjoy With Marriott Bonvoy All Across Thailand!
“In Thailand, two of the most cherished parts of life are family and food. The chance to come together with loved ones and share a meal is truly precious. With Earn, Eat & Enjoy we want to reward our Thai customers by giving them the opportunity to reconnect with their friends and relatives. Every vacation will be enriched with bonus points and dining experiences in their destination-of-choice, creating memories that will be treasured forever,” said Jakob Helgen, Area Vice President – Thailand, Vietnam, Cambodia & Myanmar, Marriott International.
Having kick-started each morning with a bountiful breakfast at the hotel’s restaurant, guests can spend care-free days exploring the local area or indulging in the comfort of first-class facilities, such as shimmering swimming pools and soothing spas. The hotel credit can be redeemed for refreshing drinks around the pool, daytime bites, sunset cocktails, evening dinners and weekend brunches, or alternatively for wellness treatments, room upgrades and more!
Every guest can rest assured that their stay will be completely safe and secure. The Marriott Cleanliness Council is redefining hygiene in hotels and resorts worldwide, with a wide range of advanced health and safety protocols, including intensive cleaning procedures. All Marriott International hotels have been certified by the Amazing Thailand Safety & Health Administration (SHA).
“Earn, Eat, Enjoy” is valid for bookings made from 15 October to 31 December 2021, for stays taken before 31 March 2022. To learn more and book your gastronomic getaway in Thailand with Marriott Bonvoy, please visit https://hotel-deals.marriott.com/thailand/
5G infrastructure and related applications will help Thailand become a digital hub in Asean, Huawei Technologies (Thailand) CEO Abel Deng said at the online seminar “Eastern Economic Corridor (EEC) Future: 5G… Enhancing Thailand’s World Competitiveness” on Monday.
Apart from turning Thailand into a digital hub, he said 5G technology will also boost the country’s competitiveness and attract foreign investors.
Citing an analysis, he said the added value of 5G-driven economies will push the global economy up by 6 per cent to US$12 trillion by 2030.
In Thailand, he said, the value of industries that adopt 5G will rise to between 2.3 trillion and 5 trillion baht or 10.12 per cent of the country’s GDP by 2035.
“If Thailand adopts 5G technology, its IT infrastructure and applications will improve significantly in the next five years,” he said.
Deng added that after Thailand released licences for the 5G spectrum, Huawei set up more than 20,000 5G stations across the country, with 2,500 of them located in EEC.
Huawei is also promoting the use of 5G2B, which integrates 5G, Cloud and AI technologies, he said, adding that the company was also establishing the Huawei Asean Academy to boost potential and promote digital transformation of the EEC.
“5G technology plays an important role in our daily lives as there are more than 10,000 projects related to the adoption of 5G2B and 50 per cent of these projects are in China,” he said.
“5G technology has been widely adopted in many industries, including manufacturing, logistics, healthcare and agriculture.”
The baht opened at 33.46 to the US dollar on Tuesday, strengthening from Monday’s closing rate of 33.48.
The Thai currency is likely to move between 33.30 and 33.50 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.
Poon said that the baht would fluctuate in the short term. The market was in a risk-on state caused the dollar to weaken while the baht strengthens. The baht is also strengthening because foreign investors are investing in Thai stocks especially stocks relating to country opening.
However, the gold price pressured the baht to weaken. Some gold investors bought gold after the price went down near the key support level. The baht was also pressured by domestic risk factors such as floods and the Covid-19 situation.
The key resistance level for the baht would be from 33.50 to 33.60 to the dollar, which is the level at which exporters might sell the US currency.
The baht’s key support level would be from 33.10 to 33.20, the level some importers are waiting for so they can buy dollars, he added.
Poon said that it will be hard for baht to strengthen heavily in the short term such as the 32.50 to the dollar level because the basic factors are not fully recovered.
Poon said that the baht is highly volatile and could suddenly change direction. He recommended that investors use various hedging tools such as options or Foreign Currency Deposit (FCD) accounts with a currency forward.
The price of gold rose by THB50 in the morning trade on Tuesday.
A9.22am report from the Gold Traders Association showed the buying price of gold bar at THB27,900 per baht weight and selling price at THB28,000, while the buying and selling price of gold ornaments is THB27,394.12 and THB28,500, respectively.
At close on Monday, the buying price of gold bar was THB27,850 per baht weight and selling price THB27,950, while gold ornaments were THB27,348.64 and THB28,450, respectively.
The spot gold price on Tuesday morning was hovering around US$1,772 (THB59,096) per ounce after Comex gold at close on Monday dropped by $2.6 to $1,765.7 per ounce due to pressure from the appreciation of the US dollar and the rise in US government bond yields.
Earn, Eat & Enjoy With Marriott Bonvoy All Across Thailand!
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