The price of gold on Monday morning was unchanged from Fridays closing rate.
AGold Traders Association report at 9.25am said the buying price of a gold bar was THB28,050 per baht weight and selling price THB28,150, while gold ornaments cost THB27,545.72 and THB28,650, respectively.
The spot gold price on Monday morning was moving around US$1,786 (THB59,516) per ounce after Comex gold rose slightly, by 80 cents to $1,784 per ounce, at close on Friday, due to support in buying the precious metal as a safe-haven asset amid concerns over the uncertain situation in Afghanistan after the Taliban took control of most of the country.
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The Hong Kong gold price meanwhile dropped heavily, by HK$80 to $16,530 (THB70,717) per tael, the Chinese Gold and Silver Exchange Society reported.
Baht performance hinges on Covid situation, Fed’s QE decision
The baht opened at 33.30 to the US dollar on Monday, strengthening from last week’s closing rate of 33.36.
The Thai currency is likely to move between 33.25 and 33.40 during the day and between 33.00 and 33.50 this week, Krungthai Bank market strategist Poon Panichpibool said.
Poon predicted the baht would move sideways as investors were waiting for important factors such as the US Federal Reserve’s move to reduce quantitative easing (QE).
Moreover, the Covid-19 situation could affect the baht, he pointed out.
Investors believed that the Bank of Thailand might decrease the policy interest rate by 0.25 per cent in their August meeting, causing the baht to weaken, Poon said.
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Meanwhile, short-term demand for safe-haven assets is supporting the dollar’s momentum, he said.
The US currency is likely to fluctuate and weaken if the Fed does not signal that it will decrease its QE or voices concern about the Covid-19 situation.
Poon expected the key resistance level for the baht would be between 33.40 and 33.50 to the US dollar.
He added that the key support level would be around 33.00-33.10 to the dollar, the price range importers are waiting for to exchange their dollars.
Top 10 net buys and net sales last week by foreign investors
Bangkok Chain Hospital Pcl (BCH) had the highest net buys among foreign investors last week, worth THB398.12 million, thanks to the rise in its second-quarter net profit, according to NVDR data on Friday.
BCH’s net profit in the second quarter this year was THB1.14 billion, up 311 per cent year on year.
Meanwhile, PTT Global Chemical Pcl (PTTGC) saw the highest net sales among foreign investors of THB1.14 billion due to the falling oil price.
The Stock Exchange of Thailand (SET) Index closed at 1,553.18 on Friday, up 1.62 per cent compared to 1,528.32 at close the previous week.
Considering the types of investors, local institutions, proprietary trading and local individuals on Friday made net purchases of THB523.43 million, THB267.65 million, and THB1.78 billion, respectively.
However, foreign investors made net sales of THB2.57 billion.
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Top ten stocks with the highest net buys among foreign investors last week were:
Bangkok Chain Hospital Pcl (BCH): THB398.12 million
Banpu Pcl (BANPU): THB200.02 million
CP All Pcl (CPALL): THB171.10 million
Eastern Polymer Group Pcl (EPG): THB161.51 million
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Advanced Info Service Pcl (ADVANC): THB159.61 million
Krungthai Card Pcl (KTC): THB156.87 million
Gunkul Engineering Pcl (GUNKUL): THB140.16 million
BGrimm Power Pcl (BGRIM): THB131.76 million
Minor International Pcl (MINT): THB127.48 million
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Tisco Financial Group Pcl (TISCO): THB123.43 million
The top 10 stocks with the highest net sales among foreign investors last week:
PTT Global Chemical Pcl (PTTGC): THB1.14 billion
PTT Pcl (PTT): THB335.65 million
Airports of Thailand Pcl (AOT): THB244.12 million
Total Access Communication Pcl (DTAC): THB190.45 million
PTT Oil and Retail Business Pcl (OR): THB154.18 million
Home Product Center Pcl (HMPRO): THB116.43 million
Srisawad Corporation Pcl (SAWAD): THB98.05 million
Precious Shipping Pcl (PSL): THB89.18 million
Charoen Pokphand Foods Pcl (CPF): THB88.76 million
U.S. Fed moves closer to tapering asset purchases despite Delta variant uncertainty
“Consumers may pull back from some in-person services amid the spread of the more contagious strain and some may be reluctant to return to work, further delaying the labor market recovery,” says the Economics Group of Wells Fargo Securities.
The U.S. Federal Reserve is moving closer to announce a plan to taper its asset purchases later this year despite the uncertainty caused by the Delta variant, Fed officials and economists have said.
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“Looking ahead, most participants noted that, provided that the economy were to evolve broadly as they anticipated, they judged that it could be appropriate to start reducing the pace of asset purchases this year,” the Fed said Wednesday in the minutes of its July 27-28 meeting.
Various Fed officials thought that economic and financial conditions would likely warrant a reduction in asset purchases in the coming months, the minutes said.
The Fed has pledged to keep its benchmark interest rate unchanged at the record-low level of near zero, while continuing its asset purchase program at least at the current pace of 120 billion U.S. dollars per month until “substantial further progress” has been made on employment and inflation.
“There are two main arguments for tapering. The first is that with such strong budget support and with the economy showing signs of continuing its strong recovery, the economy no longer needs the same strong monetary policy support as it did earlier,” Desmond Lachman, resident fellow at the American Enterprise Institute and a former official at the International Monetary Fund, told Xinhua.
“The second reason is that we are seeing unhealthy signs of excessive asset price inflation in the housing and equity markets that could cause financial instability down the road,” Lachman said, expecting the Fed to begin tapering by the end of the year.
Several Fed officials, including Dallas Federal Reserve Bank President Robert Kaplan and Boston Federal Reserve Bank President Eric Rosengren, have called for the central bank to announce a plan for tapering asset purchases as soon as September and end the purchases by the middle of next year.
In an interview with the Financial Times earlier this week, Rosengren noted that the cost-benefit analysis around the Fed’s asset purchase program changes a bit as a result of the pandemic creating these supply constraints.
“We’re having more of an impact on temporary surges of prices and less of an impact on trying to get back to full employment and a more sustainable inflation rate,” Rosengren said, adding the rising debt loads fueled in part by the asset purchases could eventually jeopardise economic recovery.
U.S. inflation remained elevated in July due to pandemic-related supply constraints. The consumer price index increased 5.4 percent over the past 12 months through July, the same increase as the period ending June and the largest 12-month increase since 2008, according to the Labor Department.
People wait in line at a mobile COVID-19 vaccination center in the Brooklyn borough of New York, the United States, Aug. 18, 2021.
“There are two reasons to think that inflation might have peaked. The first is that supply bottlenecks might ease. The second is that the economy might now slow as a result of a delta wave in the pandemic,” Lachman said.
Lachman expected that U.S. inflation rate would slow to 4 percent by year-end and to 3 percent by the end of 2022, still well above the central bank’s target of 2 percent.
Meanwhile, the spread of the more contagious Delta variant has also rekindled concerns about the labor market recovery.
People wearing face masks visit a market in New Orleans, Louisiana, the United States, on Aug. 3, 2021.
“Consumers may pull back from some in-person services amid the spread of the more contagious strain and some may be reluctant to return to work, further delaying the labor market recovery,” the Economics Group of Wells Fargo Securities led by chief economist Jay Bryson said Friday in a report.
“Overall, the increased uncertainty surrounding the Delta variant supports our view that the Fed will wait to see how the labor market evolves from here prior to removing accommodation,” the report said.
Fed Chairman Jerome Powell is expected to give a speech virtually on Aug. 27 during the annual Jackson Hole economic policy symposium, which may offer further clues on the Fed’s taper plan.
At a press conference in July, Powell seemed less concerned about economic effects from the spread of the Delta variant. “What we’ve seen is with successive waves of COVID-19 over the past year and some months now, there has tended to be less economic implications from each wave,” he said.
The Wells Fargo Economics Group continues to expect that the Fed will officially announce tapering near the end of this year and kick off the actual tapering of purchases at the start of next year.
A survey released by Bloomberg last month showed that most economists expected a formal announcement of tapering by the Fed in December and actual reductions starting in the first quarter of 2022.
People spend their leisure time at a pier in San Francisco, the United States, on Aug. 15, 2021.
Asia’s fashion spotlight CENTRESTAGE returns next month
Designers and brands take innovative approach amid pandemic Annual event opens to public visitors for the first time
CENTRESTAGE, Asia’s premier fashion event, returns in September for its sixth edition, running in a physical format from 10 to 12 September at the Hong Kong Convention and Exhibition Centre (HKCEC). Organised by the Hong Kong Trade Development Council (HKTDC), the show features more than 200 brands from over 20 countries and regions and close to 30 fashion events, offering an ideal platform through which brands and designers can showcase their creativity in the fashion arena and demonstrate their resilience in overcoming the recent challenges. For the first time, the show will open to public visitors for the entire duration of the event.
HKTDC Deputy Executive Director Benjamin Chau said: “Last year’s CENTRESTAGE was held virtually, but I am delighted that the event has been able to overcome limitations resulting from the pandemic and return in the physical format in 2021, helping to showcase more fashion brands and budding designers from Asia and across the globe. The show provides a comprehensive promotional platform through which fashion talents can present their latest collections and connect with global buyers and fashionistas. This year’s CENTRESTAGE is particularly meaningful as designers have gone through so many challenges as a result of the pandemic. They are facing up to the new environment with fresh ideas and a spark of innovation in their creations.”
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Asia’s fashion spotlight CENTRESTAGE returns next month
Overcoming pandemic challenges, fostering industry interaction
CENTRESTAGE 2021 will have “Chapter Infinity” as its central theme, encouraging those in the fashion industry to take creative approaches and reignite their inspiration in the pandemic era, exploring the countless opportunities that lie ahead. The event will feature three thematic zones: ALLURE – representing craftsmanship, refinement and elegance; ICONIC – displaying avant-garde designs; and METRO – showcasing contemporary, minimalistic expressions of urban life. This year’s event will feature over 200 fashion brands, including more than 120 brands from Hong Kong. Although travel restrictions remain in effect between Hong Kong and the rest of the world, some brands and industry organisations outside Hong Kong will send local representatives to participate in the event, including the Taiwan Textile Federation, Macau Productivity and Technology Transfer Center, Italian fashion promotion organisation Ente Moda Italia (EMI) and new joiner Chamber of Entrepreneurs of Amalty from Kazakhstan.
Asia’s fashion spotlight CENTRESTAGE returns next month
In addition, overseas buyers that have been invited to conduct video business meetings with exhibitors include 3NY from the United States, Germany’s Encode Fashion, Thailand’s Bluepin and Vietnam’s Runway. Local fashion buyers such as Club 21, D-mop, Harvey Nichols, I.T, Lane Crawford and online fashion store Farfetch have also been invited.
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CENTRESTAGE ELITES show boosted by XR, artiste Hins Cheung gives support
The spotlight opening gala show on 10 September, CENTRESTAGE ELITES, will see the global launch of the latest 2022 Spring/Summer collections from local designers Calvin Chan and Joyce Kun’s renowned brand The World Is Your Oyster, as well as acclaimed Korean designer Lee Mooyeol’s brand, YOUSER. Lee Mooyeol won’t be able to come to Hong Kong himself, but he is actively involved in the show’s production. Celebrity singer and fashionista Hins Cheung will attend the event, which will use extended reality (XR) for added impact, and give his support to the designers. The show will be livestreamed through the CENTRESTAGE website and social media platforms Facebook and Instagram, employing augmented reality (AR) effects to enhance the online viewing experience.
Asia’s fashion spotlight CENTRESTAGE returns next month
Wide array of fashion shows presented by local design talents
The HKTDC has organised a series of activities around the world. With profound experience gained through international fashion weeks, a number of local designers will present their latest collections at Hong Kong Emerging Talents Show on 10 September and Fashion Go Places on 11 September.
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Another highlight of this year’s CENTRESTAGE will be the final of the Hong Kong Young Fashion Designers’ Contest 2021 (YDC) held on 12 September. The VIP judges will be Rushemy Botter and Lisi Herrebrugh, founders of menswear label BOTTER. The 10 shortlisted candidates will compete for four honours, including overall champion, the Excellence Award, Best Visual Presentation Award and My Favourite Collection Award. Members of the public can vote for their favourite collection online and stand the chance to win one of seven HK$2,000 Lee Gardens Area e-gift certificates sponsored by Hysan Development.
Local online fashion hub FASHIONALLY.com will feature its FASHIONALLY Collection #17 fashion show on 10 September, presenting rising local fashion designers and labels. Other Hong Kong brands will combine a fashion short film with an onsite performance at FASHIONALLY Presentations on 10 September and 11 September, providing a creative showcase for their 2022 Spring/Summer collections.
Asia’s fashion spotlight CENTRESTAGE returns next month
Fashion Summit (Hong Kong) 2021, an international forum focused on sustainable development in the fashion industry, will take place on 9 and 10 September with the theme “Design for the Future”. Redress, a local non-governmental organisation promoting sustainable fashion, will present the Grand Final of the Redress Design Award 2021, the world’s largest sustainable fashion design competition, on 11 September. Local fashion brands Sparkle by Karen Chan and The Sparkle Collection will launch their new collections at CENTRESTAGE. Well-known key opinion leader Lilian Kan will also showcase her designs at the fair for the first time. Other events include the Hong Kong Kids Fashion Show and “LEGO x Hong Kong Designers Parade” on 12 September, while the “Watch x Fashion” Lucky Draw Session will take place on the weekend of 11-12 September.
CENTRESTAGE in Town citywide events
CENTRESTAGE in Town features a series of fashion events beyond the CENTRESTAGE fairground, collaborating with some 100 Hong Kong boutiques, shopping malls and cultural landmarks to generate a fashion buzz across the city. Highlighted events include:
Date (Year 2021)
Event
Venue
From today to 5 Jan 2022
Exhibition – “NOT a fashion store!”
Hong Kong Museum of Art
From today to 31 Dec
PMQ Creative Workshop Series
PMQ
From today to 5 Sept
Fashion Walk HK Designers Concept Pop-up Store (inside Philip Gold Curation)
Fashion Walk, Kingston Street, Causeway Bay
20 Aug to 12 Sept
JCCAC X PMQ Collaborative Exhibition: But Wing-ki
PMQ
27 Aug to 6 Sept
CENTRESTAGE Fashion Showcase
Harbour City Gateway Arcade
1-9 Sept
CENTRESTAGE Digital Gallery
D2 Place TWO
1-9 Sept
CENTRESTAGE Pop-up Shop (Whitelisted by Novelty Lan & Fashion Farm Foundation)
BGRIMs Bo Thong Wind Farm fully up with grid connection, another milestone in clean energy pathway set
The Bo Thong 1 and 2 wind farms are operated by Bo Thong Wind Farm, owned 92.2% by BGRIM. Their electrical output has been delivered to the Provincial Electricity Authority (PEA) under a 25-year Power Purchase Agreement (PPA) that comes with a provision of an “adder”
B.Grimm Power Public Co Ltd (BGRIM)’s 16-megawatt wind farm in northeast Thailand has fully come on line and supplying power to the national grid.
The second part of Bo Thong wind energy facility, located in Nikhom Kamsoi district, Mukdahan province, was successfully brought on stream on August 16, joining the first unit which was up and running earlier on August 2.
“Bo Thong Wind Farm’s commercial start-up represents another milestone in BGRIM’s route map towards greater engagement in clean energy development,” said Dr Harald Link, Chairman and President of BGRIM.
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BGRIMs Bo Thong Wind Farm fully up with grid connection, another milestone in clean energy pathway set
The Bo Thong 1 and 2 wind farms are operated by Bo Thong Wind Farm, owned 92.2% by BGRIM. Their electrical output has been delivered to the Provincial Electricity Authority (PEA) under a 25-year Power Purchase Agreement (PPA) that comes with a provision of an “adder”, amounted of 3.5 baht per kilowatt-hour, to the base tariff for a 10-year period.
The operation of wind farms forms part of BGRIM’s strategy to ramp up electricity production from clean and renewal energy sources and to make them available to state power utilities in Thailand and countries around the world under the so-called B2G (business to government) model. The model is geared towards providing highly efficient and stable electricity and utilities that are fundamental to the economic growth of countries.
BGRIM is seeking to achieve the objective by pursuing green-field developments and acquisitions both at home and abroad to become a world-class energy producer. More importantly, BGRIM is moving strenuously towards realising net-zero carbon emissions by 2050.
Dr Link said: “BGRIM will continue to invest more with a determination to promote sustainable business growth under the principles of good governance as well as responsible value chain management.
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“The principles take into account the economic, social and environmental impacts through the development of clean energy and the improvement of power plant efficiency.
“Our goal is to increase the proportion of clean energy in our portfolio that will go a long way to help curbing global warming and taking care of the environment in a sustainable way,” he noted.
At present, about 74% of BGRIM’s generation is derived from natural gas with the remaining 26% being in the forms of renewable or clean energy.
The company is completing five combined cycle co-generation power plants, namely ABP 1, ABP 2, BPLC 1 and BGPM 1&2, with a combined installed capacity of 700 MW. They are replacements to existing ones and due to start commercial operation by the second half of next year.
BGRIM has been negotiating and studying the possibility of expanding investment in renewable energy projects in many countries such as South Korea, Vietnam, Malaysia, Indonesia, Cambodia and the Philippines.
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BGRIM currently has a total of 50 power plants in commercial operation. The company aims to ramp up its total installed capacity from 3,058 MW at the end of 2020 to at least 7,200 MW of secured PPA by 2025 and further to 10,000 MW by 2030 with an annual revenue of more than 100 billion baht being targeted.
PTTEP donates Robots to End-to-End field hospital in the fight against COVID-19
PTTEP stands strong with Thai people. The company has supported innovations and earmarked over 63 million Baht to hospitals, educational institutions and various organizations in the fight against COVID-19
PTT Exploration and Production Public Company Limited (PTTEP) donated 10 CARA Robots, to assist medical personnel in delivering medical and food supplies, an Xterlizer UV Disinfection Robot and additional funds to support PTT Group’s End-to-End field hospital. The CARA and the Xterlizer are jointly developed by AI and Robotics Ventures Co., Ltd. (ARV), a subsidiary of PTTEP, and its partners to facilitate medical personnel and reduce the risk of infection.
Amidst the ongoing COVID-19 pandemic, PTTEP stands strong with Thai people. The company has supported innovations and earmarked over 63 million Baht to hospitals, educational institutions and various organizations in the fight against COVID-19 such as negative pressure transfer beds and wheelchairs, mobile negative pressure boxes, the development of COVID-19 test kit diagnostics, ambulance and ventilator, IoT cold chain monitoring alert system for COVID-19 vaccine storages, Oxygen High Flows, Medical Supplies and Food Delivery Robots, and Xterlizer UV Disinfection Robots.
Refineries opt for advanced technologies to address global warming issue
Following such the success of energy saving and enhanced environmental protection, IRPC won Thailand Energy Awards 2020 and also represented Thailand in the Asian Energy Awards 2021 contest.
Being alert to the world’s agenda on climate change, oil refineries in Thailand are striving to employ advanced and proven technologies to reduce greenhouse gas emission and energy consumption derived from the operations. The undertaking is part of their efforts to lend meaningful contributions to address the global warming problems.
At the recent webinar entitled “Sustainable Refinery Trend and Technology” organized by the Petroleum Institute of Thailand (PTIT), representatives from Dow Thailand, leading materials science company, spoke to the audience about the proven, reliable and affordable technology invented to cope with the refinery efficiency and environmental issues while a speaker from IRPC Public Company Limited shared to participants about its experience in applying that solution to achieve energy saving and environmental protection.
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Refineries opt for advanced technologies to address global warming issue
Vichan Tangkengsirisin, Asia Pacific Commercial Director, Dow Industrial Solutions, said in the webinar that world population are awakening to climate change crisis. Many countries are attempting to succeed carbon neutral target and aiming for net zero emission of GHG in 2050, in order to achieve the goal of the Paris Agreement that limit global temperature increase to well below 2 degrees Celsius, while pursuing efforts to limit the increase to 1.5 degrees. Considering that GHGs are emitted from combustion of fossil fuels such as oil and coal, global trend is now lowering reliance on fossil fuels and moving to clean energy. However, the transition is still going on and relying on fossil fuels which can’t be cut off immediately. The answer to this situation is finding out “how to use energy efficiently and reduce GHG emission at the same time”
Vichan has also pointed out to six current trends in the refinery industry those are: 1. Improving asset utilization rate to resolve bottle neck in the operations; 2. The number of quality crude oil sources has declined. Therefore, refinery plants turn to use crude oil from sources that have more sulfur content. 3. More stringent sulfur specification in refinery products such as the marine fuels required by the International Maritime Organization (IMO). 4. Tightened sulfur dioxide emission standard 5. Having sustainability target that involves lower emission of sulfur dioxide and carbon dioxide. 6. Reduction of energy consumption.
“What refineries are looking for now is the proven, reliable and affordable technology that will help to improve operation efficiency through reducing energy consumption as much as possible, minimizing unplanned shutdown or turnaround, lessening corrosion, providing longer equipment operational lifecycle, extending catalyst life and environmental protection will absolutely be improved consistently. Meanwhile, these all advantages have to come with no large additional capital investment needed.”
Refineries opt for advanced technologies to address global warming issue
To cope with those refinery’s expectations, Dow has developed the UCARSOL as the latest innovative gas treating solution to capture GHG emitted by sizable industrial factories such as oil refinery, gas separation plant, electricity generating plant and fertilizer production factory, to achieve both improved efficiency and environmental protection.
Chee Pin San, APAC Technical Leader, Energy Segment, Dow Industrial Solution, and Wichai Sriprasertkarnka, Account Manager, Dow Industrial Solution, told the audiences at the seminar that around 1,500 organizations in the world apply UCARSOL solvent at their operations, around 380 of which are refineries. In Asia, UCARSOL solvent has more than 80 installations at oil refinery and gas separation facilities.
Refineries opt for advanced technologies to address global warming issue
UCASOL solvent can help reduce gas emission to the environment while assist in reducing corrosion and minimize energy consumption. Dow also provides Amine Management Program that is a comprehensive service program designed for refineries and users. Users of UCASOL solution include refinery in South Korea and power plant in Japan have successfully retrieve their energy consumption and GHG emission goals.
Nattapon Pumwisate, Senior Engineer, IRPC Plc, said IRPC has successfully adopted UCARSOL technology at its operations and lower steam consumption with result to saving value at THB41.5 million per year, the company can also minimize gas emission to the environment. He added that IRPC is the 1st in Asia and 4th in the world succeed in UCARSOL installation project.
Following such the success of energy saving and enhanced environmental protection, IRPC won Thailand Energy Awards 2020 and also represented Thailand in the Asian Energy Awards 2021 contest.
THAI Operates Domestic and International Flights in August – October 2021
Thai Airways International Public Company Limited (THAI), recently said that in response to the current demands for air travel on both domestic and international routes, THAI has arranged and adjusted its flight schedules as per the latest COVID-19 control measures during August – October 2021
Mr. Nond Kalinta, Chief Commercial Officer, Thai Airways International Public Company Limited (THAI), recently said that in response to the current demands for air travel on both domestic and international routes, THAI has arranged and adjusted its flight schedules as per the latest COVID-19 control measures during August – October 2021 with details as follows:
Domestic (one-way flight):
1. Twice weekly flights from Bangkok to Phuket
• Flight TG922 departs from Bangkok every Thursday.
• Flight TG916 departs from Bangkok every Friday.
Remark: These flights will be operated during September – October 2021 according to announcements of the Civil Aviation Authority of Thailand (CAAT).
Flight operations in support of the Phuket Sandbox campaign:
1. Bangkok – Phuket – Frankfurt (v.v.): one flight per week every Thursday.
2. Bangkok – Phuket – London (v.v.): one flight per week every Friday.
3. Bangkok – Paris – Phuket – Bangkok: one flight per week every Thursday.
4. Bangkok – Zurich – Phuket – Bangkok: one flight per week every Friday.
Intercontinental (return flights):
1. Bangkok – London: twice weekly flights every Wednesday and Sunday.
2. Bangkok – Frankfurt: twice weekly flights every Saturday and Sunday.
3. Bangkok – Copenhagen: twice weekly flights every Tuesday and Saturday.
(Remark: These flights will be operated only on Saturday in September.)
4. Bangkok – Sydney: twice weekly flights every Wednesday and Sunday.
Regional (return flights):
1. Bangkok – Singapore: one flight per week every Wednesday (in October 2021).
2. Bangkok – Osaka: twice weekly flights every Thursday and Saturday.
3. Bangkok – Tokyo (Narita): three flights per week every Tuesday, Thursday and Saturday.
4. Bangkok – Tokyo (Haneda): twice weekly flights every Tuesday and Saturday.
5. Bangkok – Nagoya: twice weekly flights every Thursday and Sunday.
6. Bangkok – Seoul: twice weekly flights every Thursday and Sunday.
7. Bangkok – Taipei: twice weekly flights every Wednesday and Friday.
8. Bangkok – Jakarta: one flight per week every Wednesday.
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THAI Operates Domestic and International Flights in August – October 2021For more information about flight schedules, reservations and ticketing services, please visit our website at www.thaiairways.com, call THAI Contact Center at (+66) 2-3561111, 24 hours a day, or contact THAI local ticketing offices.
Arapat Sangkharat unveils investment vision for Thailand
Maybank Kim Engs incoming leader reveals big plans for new era
Maybank Kim Eng Securities (Thailand) is a familiar name among Thai investors, having held the number one market share for 16 consecutive years from 2002-2017. The leading securities company now enters a new era under the leadership of Arapat Sangkharat, deputy chief executive officer, who was appointed Officer in Charge on July 1.
Arapat joined the company on August 17, 2020, as deputy chief executive officer and regional head of transformation of Maybank Kim Eng Group. He arrived with more than 20 years of experience in the banking business at leading companies both domestic and international, including Siam Commercial Bank, BNY Mellon, American Express and Citigroup.
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In a recent interview with Krungthep Turakij, Arapat revealed his views on the securities business, including the operational plans and goals of Maybank Kim Eng over the next 5 years (2021-2025).
He said the company has set long-term goals to democratise investment by helping more Thais to access investment as a wealth management tool for financial stability. Previously, such services in Thailand were limited to wealthy customers, while in other countries investment diversification is accessible to all investors. Maybank Kim Eng also wants the new generation to pay attention to investment and be given easier access to investment options.
Arapat said this was not possible in the past because securities companies had cost limitations. But today’s technology has cut the cost of reaching customers via digital channels. The company is now investing in a new customer service system supported by Maybank Group, one of the largest banks in Asean.
In addition to using artificial intelligence (AI) to analyse individual customer risks, said Arapat, the challenge is how to leverage the data to create investment portfolios and returns that meet the goals of each client. These include the design of investment plans suited to each customer’s life goals (Goal-based Investing), such as investment in education, for retirement or for emergency expenses.
However, he admitted that gearing up to meet the goals of the 5-year plan may take time. However, initial progress is expected in 2022, as the company deems it necessary to make investments easier for all customers and reach new generations who are interested in investing. The company considers this goal to be part of its social responsibility, in line with Maybank Group goals on ESG (environmental, social and governance) issues. The company is focused on building the organisation as an “ESG Investment House”. Among the many steps it is taking to meet this aim are focusing on writing research recommendations for the listed companies that promote ESG, not underwriting shares in companies in environmental destruction, educating investors and student groups, and developing the company as a Zero-Waste Organisation.
As for short- to medium-term goals, Arapat said he would like to change how customers and employees view the organisation. For customers, he set a goal for Maybank Kim Eng to become number one in the minds of customers (first to mind), which is seen as a more important goal than being the number one securities company in terms of income or profit.
As for employees, he aims to make Maybank Kim Eng the company of choice for workers who feel proud to be a part of driving the organisation.
However, asked about the Covid-19 epidemic that has disrupted life and business operations in almost every industry, he said everyone wanted to see the crisis resolved.
However, he acknowledged that the securities business is one of the few that has seen strong growth during Covid-19. Consequently, he expected that the growth levels of 2020 and 2021 may slow once the crisis is over.
But insights gained from the virus crisis further underscore that building financial stability is a necessity for everyone, not just the wealthy, he added. In addition, legal entities like small and medium-sized businesses (SMEs) should also be among the customers receiving wealth building services. Even small businesses with not much capital, such as 1 million baht, should be able to diversify their investments.
In the first half of 2021, the company recorded a net profit of 448.04 million baht, up 206.35 million baht or 85.38 per cent on the same period last year. The outstanding performance was a result of success in distributing services to a wide range of customers.
The overall performance of the company in the first half of this year was considered satisfactory and met the target set. Although the economy is still affected by the Covid-19 pandemic, market sentiment and investment activity continue to perform well. The company continues to expand its product and service portfolio to include global equities and global funds with support from Maybank Group, which is a strong international bank with high business stability. This October, Maybank Kim Eng Group will celebrate 10 years of providing new financial services through the Maybank network in 10 markets, which continues its smooth and stable operations.
People wait in line at a mobile COVID-19 vaccination center in the Brooklyn borough of New York, the United States, Aug. 18, 2021.
People wearing face masks visit a market in New Orleans, Louisiana, the United States, on Aug. 3, 2021.
People spend their leisure time at a pier in San Francisco, the United States, on Aug. 15, 2021.
Asia’s fashion spotlight CENTRESTAGE returns next month
Asia’s fashion spotlight CENTRESTAGE returns next month
Asia’s fashion spotlight CENTRESTAGE returns next month
Asia’s fashion spotlight CENTRESTAGE returns next month
BGRIMs Bo Thong Wind Farm fully up with grid connection, another milestone in clean energy pathway set
Refineries opt for advanced technologies to address global warming issue
Refineries opt for advanced technologies to address global warming issue
Refineries opt for advanced technologies to address global warming issue
THAI Operates Domestic and International Flights in August – October 2021For more information about flight schedules, reservations and ticketing services, please visit our website at 
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