Centara Extends Management Agreement with Centara Pattaya Hotel and Centara Nova Hotel & Spa Pattaya
TUESDAY, DECEMBER 20, 2022
This exciting arrangement will see Centara managing these properties for another five years
Centara Hotels & Resorts has confirmed the signing of hotel management agreement extensions by Thirayuth Chirathivat, CEO of Centara Hotels & Resorts, Rony Fineman, owner of Centara Pattaya Hotel and Centara Nova Hotel & Spa Pattaya, and Lon Ballard, owner of Centara Pattaya Hotel, to continue managing these renowned properties in one of Thailand’s most popular tourist destinations for a period of five more years.
Located in the heart of central Pattaya, a short walk from shopping, restaurants and the famed Pattaya Beach, Centara Pattaya Hotel provides a haven of relaxation in the midst of all the action.
Guests have access to a sparkling outdoor pool, two bars, an all-day dining venue and a rejuvenating spa. With a variety of guest rooms, including family-friendly studios and spacious suites, and multifunctional meeting spaces, this hotel offers convenience and comfort during every stay.
Ideal for families and couples, Centara Nova Hotel & Spa Pattaya offers 79 tastefully designed and well-appointed rooms and suites, each with a furnished balcony overlooking the pool, complete with a swim-up bar, terrace, jacuzzi and children’s pool.
The hotel also features an all-day dining venue, a pool bar, the award-winning SPA Cenvaree and modern meeting spaces. Just minutes away from sprawling Pattaya Beach, this hotel’s central location means local attractions, shopping, food, golf and water sports are always within easy reach.
Both Centara Hotel Pattaya and Centara Nova Hotel & Spa Pattaya are only a 90-minute drive from Bangkok’s Suvarnabhumi International Airport.
Hotel airport pick-ups and transfers can be arranged through the hotel at the time of booking.
Marriott International expects to introduce more than 35 luxury hotels around the world in 2023
TUESDAY, DECEMBER 20, 2022
From the expansive savannas of Kenya to the pristine shores of the Caribbean, Marriott International is set to expand its global luxury footprint and is reimagining high-touch hospitality
Cannes, France – December 8, 2022 – From International Luxury Travel Market (ILTM) Cannes, Marriott International, Inc. today announced plans to introduce more than 35 luxury hotels in 2023, delivering the unique and meaningful experiences desired by today’s luxury traveler. Boasting an unrivaled portfolio of luxury brands including The Ritz-Carlton, Ritz-Carlton Reserve, St. Regis, W Hotels, The Luxury Collection, EDITION, JW Marriott and Bulgari Hotels & Resorts, Marriott International continues to push the boundaries, reimagining travel with a globally inspired perspective that defines the future of luxury. With an unparalleled footprint of nearly 500 luxury hotels and resorts in 68 countries and territories today, Marriott International is poised to further its position as the global leader in luxury hospitality with more than 200 luxury properties in the development pipeline. From Kenya to Singapore and Japan to Mexico, more than 35 new hotels are slated to open next year in sought-after and emerging destinations around the world.
Luxury’s Great Reimagining
The world has experienced a seismic cultural shift following the events of the last several years, according to a study exploring the impact on the values and aspirations that matter most to guests, conducted in collaboration with creative agency Team One. “We are looking to the great reimaginers, people who perceive crises as moments of opportunity to rethink their lives and reimagine the world around them. Our collective mindset has changed from viewing travel as a luxury commodity to an activity vital to overall well-being,” said Tina Edmundson, Global Brand and Marketing Officer, Marriott International. “More than ever before, our guests are prioritizing more meaningful travel and time spent with loved ones, looking for experiences that reflect their personal values and enhance their overall quality of life.”
“Whether it’s a focus on nurturing closer relationships, a desire to be more present, or finding ways to make a positive impact, across our luxury brands we are evolving to allow our guests to focus on what they believe matters most,” said Chris Gabaldon, Senior Vice President, Luxury Brands, Marriott International. “As we grow our portfolio of luxury hotels and resorts in some of the most iconic and compelling destinations globally, our expanding footprint allows us to offer the transformative experiences that lead to a renewed sense of purpose and enhanced mental and physical well-being for the modern luxury traveler.”
The Ritz-Carlton Leads Through Innovation While Pursuing Global Growth
Showcasing a new, contemporary aesthetic and the renowned brand’s legendary service, The Ritz-Carlton continues to lead through innovation as it thoughtfully grows its portfolio in the world’s most exciting destinations. In 2022, the iconic brand drove global buzz with debuts in New York’s NoMad neighborhood and in Amman, in addition to celebrating the launch of Evrima, the first yacht from The Ritz-Carlton Yacht Collection. In the year ahead, the brand expects to open two new hotels in North America, including its first property in America’s Pacific Northwest region with The Ritz-Carlton, Portland, and The Ritz-Carlton Paradise Valley, The Palmeraie in Arizona’s coveted Scottsdale area. Set above the city skyline, The Ritz-Carlton, Melbourne is slated to grow the brand’s footprint in Australia next year, while The Ritz-Carlton, Fukuoka is expected to deliver a new offering in the business district of this southwestern Japanese city. Ritz-Carlton Reserve anticipates expanding its exclusive portfolio in 2023 with Rissai Valley, a Ritz-Carlton Reserve close to the historic Chinese valley of Jiuzhaigou and Nujuma, a Ritz-Carlton Reserve located off the West Coast of Saudi Arabia and part of the country’s Red Sea project.
St. Regis Celebrates its Vanguard Spirit in Alluring New Destinations
St. Regis continues to solidify its position as a global luxury icon by bringing its vanguard spirit, signature glamor and celebrated rituals to some of the world’s most desired destinations. Highlighting a commitment to growing its resort portfolio, in 2023 the brand expects to debut The St. Regis Kanai Resort, an enchanting haven nestled in a 620-acre nature reserve along Mexico’s Yucatán Peninsula with ocean views from every guestroom. In the year ahead St. Regis also anticipates expanding its footprint in North America with The St. Regis Chicago, an exquisite architectural marvel envisioned by Jeanne Gang Studio. The iconic brand is also slated to bring its acclaimed Butler Service and storied legacy to Belgrade and is expected to open its first two properties in Saudi Arabia by debuting a hotel in Riyadh and a resort located on its own private island within the Red Sea project. This past year also marked St. Regis openings in Qatar, India, Kuwait and Indonesia.
W Hotels Continues Pushing the Boundaries & Expanding to Iconic Destinations
In 2022, W Hotels introduced an evolved lens on its unassuming approach to luxury and is set to infuse subtle sophistication into each of its 67 hotels around the world. W pushes the boundaries of elevated design, regionally inspired programming and its iconic “Whatever / Whenever” service, which has been refined for the next generation of travelers. With the opening of W Algarve – atop the dramatic cliffs of Southern Portugal – and W Costa Navarino – located along the sandy shorelines of Greece – the brand debuted in two sought-after locales in 2022, providing a glimpse into W’s new vision. This year also brought further growth in the Middle East with the addition of W Dubai – Mina Seyahi, rising 31 stories above the Arabian Gulf, and in Canada with the W Toronto, which nods to the city’s rich musical heritage with Canada’s first W Sound Suite – the brand’s signature recording studio experience – and celebrates Toronto’s storied art scene, diversity of culture and legacy of inclusivity. Looking ahead to 2023, W Hotels anticipates debuting in Prague, Budapest, Edinburgh, Sydney, Macau and Milan. Also slated for later next year, W New York – Union Square and W Hollywood are expected to emerge newly transformed, embodying the fully reimagined W experience.
EDITION’s Rapid Expansion Continues in Top Destinations
EDITION, a unique luxury collection of individualized hotels considered the next chapter in the lifestyle hotel story, expanded into Madrid and Tampa in 2022. Known for sophisticated design, a curated taste of the locale, and modern service, EDITION Hotels is rapidly expanding internationally in 2023 with new openings planned across several regions, including the brand’s first properties in Italy, Mexico and Southeast Asia. With 15 hotels currently in the global portfolio, EDITION is projected to grow its personal and intimate hospitality experience to 21 total destinations by the end of 2023, with expected openings next year to include Rome, Riviera Maya at Kanai, Tokyo, Ginza, Singapore, Jeddah and Doha.
The Luxury Collection Brings Transformational Experiences and Destination-Rooted Authenticity
The Luxury Collection’s growing ensemble of more 120 hotels around the world offer the promise of authentic experiences that are highly immersive and deeply reflective of the destination. In 2022, the brand showcased elevated palatial interiors and world-class epicurean delights in Madrid with the opening of Santo Mauro, brought luxurious coastal charm to the idyllic Greek island of Paros through Cosme, and made its debut in Australia with the opening of The Tasman in Hobart, a waterfront city steeped in rich history. With each hotel serving as a portal to the destination’s unique charms, The Luxury Collection anticipates debuting properties next year in enthralling locations that span the globe, including Turkey, Barbados, Japan, Mexico and Tbilisi, Georgia.
JW Marriott Celebrates Guests through Well-Being Experiences and Exceptional Service
Inspired by its legendary namesake and offering experiences that encourage guests to be fully present, JW Marriott caters to sophisticated, mindful travelers who seek a balance in mind, body and spirit. In 2022, the brand celebrated openings in captivating destinations including São Paulo, Changsha, Istanbul, Bangalore and Frankfurt, marking the brand’s debut in Germany. In the coming year, JW Marriott anticipates continuing to bring its distinct style of warm, authentic service to established and emerging destinations with planned openings from Madrid to Jeju Island, South Korea, and Dallas to Xi’an and Berlin. The brand is also slated to enter the luxury safari segment in 2023 with the expected opening of JW Marriott Masai Mara Lodge in Kenya.
One Bangkok sweeps Asia’s Best Landmark Mixed-Use Development and Thailand’s Best Office Development awards
TUESDAY, DECEMBER 20, 2022
One Bangkok, the largest holistically integrated district in the heart of Bangkok has been awarded Asia’s first Best Landmark Mixed-Use Development and Best Office Development (Thailand) for its office Tower 4 at the prestigious PropertyGuru Asia Property Awards Grand Final 2022.
These awards recognise the excellence demonstrated by One Bangkok through its outstanding quality, unique design concept, location, quality of amenities, construction, success in the marketplace, the accomplishment of overall development goals, sustainable function, and innovation.
The PropertyGuru Asia Property Awards Grand Final 2022 is one of the region’s most renowned real estate awards where top country winners vie to be recognised as ‘Best in Asia’. One Bangkok had earlier won ‘Best Mega Mixed-Use Development’ and ‘Best Office Development’ at the 17th PropertyGuru Thailand Property Awards.
Lim Hua Tiong, Chief Executive Officer, One Bangkok, said, “Recognition from Property Guru is a testament to the confidence of industry leaders in One Bangkok. Our vision and ambition for One Bangkok go beyond real estate. The design principle of One Bangkok focuses on sustainability, a people-centric and smart city. We want to make impactful changes to the city, and to be part of Bangkok city evolving into one of the world’s greatest metropolises.”
“The offices at One Bangkok emphasize health, well-being, sustainability, and quality in every detail as an affirmation to create the ultimate workplace ecosystem of the future. For office Tower 4, we engaged world-renowned consultants to deliver beautifully designed, high-performance environments with flexibility and efficiency for the best occupant experience. It is also the first office tower in Thailand underpinned by future-ready smart technology, targeting WiredScore and SmartScore certifications, and is designed for WELL Platinum certification, ensuring the physical and social environments will benefit the health, well-being, and performance of occupants.” he added.
One Bangkok, a joint venture between TCC Assets Co Ltd and Frasers Property Holdings (Thailand) Co., Ltd. is located at the corner of Wireless and Rama 4 roads with direct linkages to the city’s burgeoning mass transit systems. One Bangkok comprises workplaces of the future, a new retail loop, superlative residences, hotels with the finest five-star hospitality, a world-class live entertainment arena, the presence of art and culture, and a vast, welcoming public realm that covers 50 rai (8 hectares) of the district. As a well-equipped smart city with sustainable infrastructure, One Bangkok aims to be the first project in Thailand to be awarded LEED for Neighborhood Development Platinum certification and WELL Building Standard to support human health and wellness.
Thai AirAsia expects to achieve 90% of pre-Covid business next year
TUESDAY, DECEMBER 20, 2022
Budget airline Thai AirAsia is confident that its business will continue to improve next year because of increasing foreign arrivals and the possibility of China relaxing its travel rules.
Thai AirAsia CEO Santisuk Klongchaiya said the prospects for robust business next year were already reflected in the rebound in passenger numbers and aircraft utilisation rate this year.
Santisuk expressed confidence that Thai AirAsia would fly 10 million passengers this year, thanks to the strong market for domestic flights. Last year, the airline flew only 2.93 million passengers, he said.
As the tourism sector has started to revive, Thai AirAsia’s aircraft utilization rate last month rose to 12 hours, the CEO added.
He said Thai AirAsia expected seat occupancy would reach 81% by the end of this year.
Thai AirAsia has a 32% share of the domestic market.
The budget airline believes its flights and passengers would return to pre-Covid levels next year because of the strong domestic passenger market and return of foreign tourists, he said.
Thai AirAsia has the biggest fleet among low-cost airlines in the country with 53 planes and it is confident that China would start relaxing its travel restrictions in the first quarter of next year.
Once China reopens its country to foreign tourists and allows its people to travel outside the country, Thai AirAsia would deploy 10 of its planes that are now grounded, Santisuk added.
He said Thai AirAsia has changed its strategy not to depend on a particular market and has opened routes to India, South Asia and Asean nations as well as a route from Don Mueang to Fukuoka, Japan this year.
“Next year, we’ll open new routes to Nepal, Pakistan, and other cities in India. This gives us the confidence that the volume of our passengers next year will reach about 90% of the pre-Covid level,” Santisuk said.
One of the latest routes is Don Mueang-Taipei, which has four flights per week. Flights can now be booked via airasia Super App, the CEO added.
KResearch revises Thailand 2023 GDP forecast to 3.2 % amid global economic recession
TUESDAY, DECEMBER 20, 2022
Kasikorn Research Center (KResearch) has revised its 2023 GDP growth projection to 3.2 % from the previous projection range of 3.2-4.2 %, though its 2022 GDP growth forecast has been upgraded to 3.2 % from the earlier projection of 2.9 %.
Nattaporn Triratanasirikul, KResearch Deputy Managing Director, viewed that the global economy will see a significant slowdown in 2023 – presenting an obstacle for the Thai economic recovery. The US and Eurozone are set to show no growth given their policy rate hikes to tame inflation and the impact of an energy crisis in Europe.
Meanwhile, it is more likely that China will reopen its borders in the second quarter of 2023. However, close attention should be paid to the situation there, especially the number of infected cases and deaths, as well as the adequacy of China’s public healthcare system. China may face a new wave of COVID-19 which would affect its economic activity. Under these circumstances, KResearch holds a cautious view towards China’s reopening and therefore maintains its 2023 projection of international tourist arrivals at 22 million. Meanwhile, the Thai economy is projected to grow at 3.2 % next year.
As for the interest rate outlook, we at KResearch are of the view that the US Federal Reserve (Fed) may continue to raise its policy rate to 5.0 % or even higher during the first quarter of 2023. The Fed Funds rate will likely stay at an elevated level throughout 2023. Meanwhile, Thailand’s Monetary Policy Committee is expected to hike its policy rate at its two upcoming meetings by 0.25 % each, reflecting that domestic interest rates are also on an upward trajectory. Regarding the Baht’s outlook during the first quarter of 2023, it is expected that the Thai currency will strengthen even as the Fed presses ahead with its planned policy rate hikes because markets have already priced in such a likelihood.
For the financial sector, it is expected that loans of commercial banks registered in Thailand will grow within a limited range of 4.2-5.2 % YoY (median rate of 4.7 %) in 2023 versus the 5.0 % growth projected for 2022, in line with economic conditions facing numerous risks and an uneven recovery expected in the business sector. The cautious trend will also be reflected in asset quality within the commercial banking system, as the NPL to total loan ratio in 2023 may not improve from that seen in 2022. NPLs are projected to stay within a range of 2.55-2.80 % at the end of 2023, compared to the 2.65-2.75 % expected at the end of 2022.
Kevalin Wangpichayasuk, KResearch Deputy Managing Director, said, “Regarding the Thai business outlook for 2023, KResearch views that most industries are still dealing with numerous challenges. In terms of operating costs, electricity prices, labour costs and interest rates are rising. Meanwhile, business income would be affected by major economies falling into a recession and the Baht’s appreciation, thus causing a decrease in Thai exports. Additionally, as the impacts of such factors on each industry vary, business income in 2023 will likely see an uneven or “K-shaped” recovery. Hotels and restaurants, private hospitals and the retail sector may lead the recovery. Meanwhile, industries which will see their recovery take longer or even see a contraction are real estate and exports of electronic devices and electrical appliances.”
In addition, Thai businesses will increasingly be challenged by environmental, social, and governance (ESG) issues in 2023. Thailand’s trading partners will likely adopt more stringent rules and regulations, especially the EU’s Carbon Border Adjustment Mechanism (CBAM). Meanwhile, Thailand will focus more on developing definitions and a practical green taxonomy to move towards a green economy. Given this, Thai business operators need to study and make adjustments in order to enhance their long-term competitiveness.
NBTC urged to create national platform to help digital TV operators compete with OTT service
MONDAY, DECEMBER 19, 2022
Jarupong Krisanaraj
Digital television (TV) industry experts have advised the National Broadcasting and Telecommunication Commission (NBTC) to revise regulations and create a national TV channel that would boost operators’ competitiveness.
Three panellists made the remarks during a seminar “Opportunities and solutions for Thailand’s digital TV industry amid changes in media ecosystem” at Pullman Bangkok Grande Sukhumvit on Monday.
Special adviser to Nation Group Adisak Limparungpatanakij said he sees opportunities for digital TV operators as content providers.
“Up to 80% of content nowadays comes from digital TV operators,” he said.
He urged the NBTC to revise regulations so as to make digital TV operators more competitive, otherwise over-the-top (OTT) streaming could dominate Thailand’s media market.
“OTT streaming has already won the hearts of people in Greater Bangkok,” he pointed out.
Tero Entertainment’s deputy managing director, Choakchai Eaimrittikrai, said the emergence of OTT streaming services, such as Netflix, Hulu, YouTube and Line TV, has forced digital TV operators to become content providers.
He added that digital TV operators’ revenue from advertising had halved from 60 billion baht to 30 billion baht due to disruption caused by OTT streaming.
“Digital TV operators have been forced to pay more attention to changes in consumers’ demands, such as broadcasting content on digital TV, Facebook and TikTok at the same time,” he said.
He asked the NBTC to create a national TV channel that would enable Thai content providers to broadcast content both locally and internationally.
He added that content on the national TV channel should include food, music, travel and sports, which could help promote Thailand’s soft power.
“Content providers simply make content to be broadcast on the national TV channel and add the subtitles,” he said, adding that it is weird that no Thai content is broadcast overseas.
He said that it is the NBTC’s duty to promote Thai content internationally to further strengthen Thailand’s digital TV industry.
He added that Tero Entertainment is currently in talks with a global sports media platform, Group One Holdings, on broadcasting One Lumpinee Muay Thai matches in 179 countries worldwide.
One 31’s chief operating officer, Deaw Woratangtragool, said there were still opportunities for Thailand’s digital TV industry to become content providers amid the streaming disruption.
“Amid the digital transition, many digital TV operators have already adjusted themselves to become content providers,” he said.
Echoing Choakchai’s idea, he said a national TV channel would benefit Thailand both locally and internationally.
The three panellists also agreed that digital TV was still effective despite changes in the media ecosystem.
However, they pointed out that outdated laws and regulations, as well as a lack of infrastructure and NBTC’s support, posed challenges to Thailand’s digital TV industry.
“Digital TV is still effective, but content providers must pay more attention to consumers’ needs,” the panellists said.
Food delivery businesses face slump in demand next year: KResearch
MONDAY, DECEMBER 19, 2022
The research arm of Kasikornbank (KBank) expects the food delivery business sector in Thailand to slow down next year in line with the situation in other countries as the Covid threat slowly ebbs.
A KResearch Centre study, released on Monday, said that the food delivery business in Thailand next year would be valued at around 81 billion to 86 billion baht next year, a contraction of 0.8% to 6.5% compared to the value this year.
The centre said the value would still be much higher than before the Covid pandemic.
KResearch said its study from early this year until now had found that about 37 per cent of its survey group had reduced the frequency of food delivery service since the improvement in the Covid-19 situation and as people have started returning to work.
KResearch said single-dish and basic foods remain the biggest group of foods ordered via food delivery services.
It said the categories of foods and drinks that faced a slowdown were drinks and bakery because employed people prefer to buy them on their own since their return to work.
KResearch advised operators of food delivery services to diversify their operations and allow customers to hire their riders to buy goods from supermarkets and convenience stores, or try to expand their services to the provinces to be able to sustain their business.
Epic wins for BBDO in Asia and MENAP at the Epica this year, focusing on impact first
MONDAY, DECEMBER 19, 2022
Middle East and Asia, December 16, 2022 – At the recently concluded Epica, IMPACT BBDO, BBDO India and BBDO Bangkok brought home gold and silver awards with works focused on impact, led by three creatives who are pioneering the field.
In contrast to other design and advertising awards, the Epica Awards are judged by the industry’s press, composed of 35 editors and senior reporters from marketing magazines. Out of the 3099 entries that were made this year, some work took home top honours. Among those who got recognised for their work were IMPACT BBDO, BBDO India and BBDO Bangkok.
In response to these wins, Josy Paul, Chairman of BBDO India, who has spoken at Cannes Lions in the past about the future of advertising said; “It’s evident from the work celebrated here, among all of the winning work that approaching advertising with a mindset of creating acts, not ads, is the way to go. The future of advertising should be about driving meaningful action. That’s what good advertising does. It goes beyond just selling physical goods. It has the power to help us see societal issues differently.”
In recent years, brands have been shifting their focus from the pursuit of just profit to purpose-driven work.”It’s truly a remarkable time to be creative. You have the power and the opportunity to truly make your work bring about a real impact on society, and make a positive change,” said Ali Rez, Chief Creative Officer IMPACT BBDO MENAP.
BBDO India’s see ‘Equal #ShareTheLoad’, for P&G’s Ariel detergent brought home gold at the Epica Awards for Creativity 2022 last week. Since 2015, Ariel India has continuously sparked conversations around the unequal division of domestic chores within households and urging more and more men to #ShareTheLoad. The works have won multiple Cannes Lions since then, but most importantly, they’ve made an impact in India. In 2015, 79% of men believed that laundry is a woman’s job. Today, that number has dropped to 26%.
Regarding their latest Epica win, Josy said; “We are thrilled that our work has been recognized at the Epica Awards for Creativity 2022. We started the brand movement for social change in 2015 and it’s rewarding to see its impact on brand and culture. It’s the longest-running movement for any brand in India that’s been winning year after year. We thank our enlightened client and all our media, PR and activation partners for this record-breaking win. Our latest film has been viewed over 115 million times across platforms and we’re humbled to see so many people that keep watching the work, keeping the impact going.”
Thasorn Boonyanate, Chief Creative Officer, BBDO Bangkok added; “#ShareTheLoad has helped us see gender equality and in-home equality from a different perspective. This is not about content, but context and insights.”
Provoking change is sometimes referred to as changing the way we approach change. “In a time when newspapers are dying, AnNahar with the help of Impact BBDO decided to show how important they are. It’s one of the most powerful pieces of work I’ve seen so far in 2022,” said Thasorn Boonyanate.
IMPACT BBDO brought home gold for this work dubbed “The Elections Edition”, a campaign that was directed at Lebanon’s government claiming they couldn’t hold elections due to ink and paper shortages. Driven by this, the local newspaper AnNahar and Impact BBDO created a campaign to donate ink and paper to the government’s printing associate instead of using it to print their daily edition. To take a stand, the daily paper ceased publishing for the first time in its 88-year history. The powerful message of support spread like wildfire across the nation as citizens donated books, magazines, and paper to the government to secure the election.
Ali Rez, Chief Creative Officer IMPACT BBDO MENAP said “AnNahar truly believes in the impact purposeful work can have. They have consistently been incredibly courageous about using their newspaper to drive positive change in society – in this case, to protect Lebanese democracy. This campaign is the perfect example of how a traditional medium can be transformed into a highly integrated activation that is medium agnostic. In fact, the print medium for a newspaper in this case didn’t even exist.”
When it comes down to tackling serious health issues, Thailand has taken an unusually entertaining route. Responding to concerns raised by the Thai Health Promotion Foundation about the adverse effects of e-cigarettes on cognitive memory functions, with young Thais as the majority of users, BBDO Bangkok with lead Creative Head Thasorn Boonyanate wanted to approach this serious topic with a less serious tone.
The result? An entertaining animated mini-film called “The Experimental”, featuring a brilliantly funny fuzzball, Sunny, in a Korean laboratory and Baifern, his girlfriend, discussing Sunny’s e-cigarette addiction and its side effects. And for its approach, it won a Silver in the Public Interest – Health & Safety Online Film category.
“We were over the moon when we heard that we had won the Epica Award. Teens are crazy about e-cigarettes, but few are aware of the damage they actually pose. By adding a little humour, the video became a sharing hit, and even sparked the creation of memes among this young gen. Hopefully, more people will become aware of the effects of e-cigarettes. Thanks to Mum Films’ legendary commercial director Suthon Petchsuwan for partnering with us on this work,” added Thasorn Boonyanate, Chief Creative Officer of BBDO Bangkok.
Commenting on ‘The Experimental,’ Ali Rez said that “Thailand has an amazing reputation of making brilliant comedy work, and this is yet another fantastic example of it. A serious topic tackled in a humorous manner with memorable storytelling, engaging characters, and superb craft: absolutely brilliant.”
Josy Paul added, “The Experimental’ is fully mental! It is humour on steroids! A brilliant mix of animation and live-action story, this highly entertaining film presents genuine medical advice with ‘Thai’ lightness and quirkiness.The Thai Health Promotion Foundation and BBDO Bangkok promotes good health in a fresh and compelling manner.”
You can find the full results of this year’s winners at epica-awards.com.
PTTEP sells off its Angola operations to Somoil Bloco
MONDAY, DECEMBER 19, 2022
PTT Exploration and Production (PTTEP) has informed the Stock Exchange of Thailand that it is selling off its operations in Angola.
PTTEP CEO Montri Rawanchaikul said his company had informed SET on Friday that it has decided to sell all its investments in the deep offshore Block 17/06 in Angola to Somoil Bloco 17/06, a subsidiary of Sociedade Petrolifera Angolana.
The sale is being overseen by PTTEP (Angola) Corporation and will be completed by mid-next year, Montri said.
PTTEP’s Block 17/06 in the west of Angola is at development stage. Once the block has been sold off, all PTTEP’s operations in Angola will come to a halt in line with the company’s strategy, Montri added.
CPF to buy back 200 million shares in 3rd go at stabilising its stock price
SUNDAY, DECEMBER 18, 2022
Charoen Pokphand Foods (CPF)’s board of directors has resolved to buy back 200 million more shares for the third time in two years to prevent its stocks from falling.
The board announced that CPF will start buying back 200 million shares or 2.32% of its paid-up shares from Monday to June 18, and will pay no higher than 115% of the average closing price of the stock over five working days.
Between October 31 and December 13, the average price of CPF shares was 24.36 baht apiece.
The board said it has decided to carry out another round of buyback because it believes the stock market value is lower than the stock’s book value.
The board is also confident that the buyback will result in an increase in CPF’s return on equity (ROE) and earnings per share.
Before the board announced the latest round of buybacks, CPF’s stocks closed at 23.80 baht, marking a 6.67% drop year to date (YTD). The shares’ price vs EPS ratio is at 10.60 and price to book value ratio of 0.79, the board said.
CPF insists that it has enough cash to carry out the new round of buybacks. As of September 30, the CPF had 2.23 billion baht in cash and said it expects to receive another 9.5 billion baht in dividends from its subsidiaries in the fourth quarter for profits earned in the first half of this year.
Hence, the company said it is confident it will have enough cash to buy back shares.
CPF has bought back its shares twice before to stop its price from dropping in the fallout of the Covid-19 pandemic.
The first buyback was launched on March 13, 2020, when the company said it would buy back 400 million shares or 4.65% of all paid-up shares for 10 billion baht. The first buyback round lasted from April 1 to September 30.
CPF’s shares had dipped to the lowest in four years, below the resistance line of 20 baht to 18.70 baht per share on the day the board resolved to buy back the shares.
As of September 30, CPF had bought back 197.673 million shares or 2.30% worth 6.084 billion. The programme drove up CPF’s shares to gradually peak at 35.25 baht on July 20, 2020, before sliding back to 28 baht per share at the end of the programme.
Then on September 30, 2021, the board resolved to spend another 10 billion baht to buy back more shares from October 15 to April 14, 2022. During this period, CPF’s share price fluctuated in the 25.75 to 23.50 range.
Brokerage firm CGS-CIMB said the actual value of CPF’s shares was about 30.65 baht per share and recommended that people buy up to sell at a profit when the price rises to 33 baht.
Once China reopens its country to foreign tourists and allows its people to travel outside the country, Thai AirAsia would deploy 10 of its planes that are now grounded, Santisuk added.
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