Space Affairs Act gives Thailand’s moon mission extra lift
Thailand launched a new era of space exploration on Tuesday as ministers gave the green light to the draft Space Affairs Act. The Cabinet said the law will lay foundations for the country’s “Space Economy”.
Higher Education, Science, Research and Innovation Minister Anek Laothamatas said the new law would help support Thailand’s development.
In December, Anek announced a seven-year mission to send a Thai spaceship to the moon.
The space- technology industry is already up and running in Thailand with investment from the government, and both Thai and foreign companies.
Thailand has more than 35,600 enterprises related to the aerospace industry and downstream industries, 95 per cent of which are small and medium enterprises (SMEs), start-ups and other businesses. The government says the growing industry creates economic and social benefits and generates about 56.122 billion baht.
The draft Space Affairs Act will be sent for review by the Council of State and Parliament before being enacted.
The Stock Exchange of Thailand (SET) Index closed at 1,570.99 on Tuesday, up 21.15 points or 1.36 per cent. Transactions totalled 75.22 billion baht with an index high of 1,571.82 and a low of 1,555.88.
In the morning session, Krungsri Securities forecast the SET Index on Tuesday would fluctuate between 1,540 and 1,560 points despite the rising oil price and hopes of more economic relief measures from the Thai government.
However, the rise in domestic Covid-19 cases and volatility in foreign fund flows would pressure the index, it added.
The 10 stocks with the highest trade value today were PTTGC, CPF, BANPU, GUNKUL, PTT, KCE, CBG, KBANK, CPALL and HANA.
Other Asian indices were up:
Japan’s Nikkei Index closed at 28,718.24, up 149.22 points or 0.52 per cent.
China’s Shanghai SE Composite Index closed at 3,566.52, up 18.69 points or 0.53 per cent, while the Shenzhen SE Component Index closed at 15,189.30, up 27.77 points or 0.18 per cent.
Hong Kong’s Hang Seng Index closed at 27,963.41, up 448.17 points or 1.63 per cent.
South Korea’s KOSPI closed at 3,271.38, up 24.91 points or 0.77 per cent.
Taiwan’s TAIEX closed at 17,847.52, up 33.19 points or 0.19 per cent.
Marriott Says “THANK YOU” In Southern Thailand With Miles Of Smiles Cookie-Baking CSR Campaign
In total, 12 hotels and resorts across these three stunning southern Thai provinces came together for this activity, which was a way of saying “thank you” to associates, guests, and local residents for their support during this challenging time.
Marriott Bonvoy portfolio of hotels and resorts in Phuket, Phang Nga and Krabi came together on 9th July 2021 to delight their local communities by baking thousands of delicious cookies. Under the ‘Miles of Smiles’ CSR campaign, each cookie was decorated with a smiley face, helping to spread joy and happiness.
In total, 12 hotels and resorts across these three stunning southern Thai provinces came together for this activity, which was a way of saying “thank you” to associates, guests, and local residents for their support during this challenging time.
Marriott Says “THANK YOU” In Southern Thailand With Miles Of Smiles Cookie-Baking CSR Campaign
“At Marriott International, we continually strive to deliver on our commitment to taking care of our people, wherever in the world we operate. The global pandemic has caused significant upheaval for us all, but it has been wonderful to see how everyone has come together and supported each other,” said Mr. Brad Edman, General Manager at Renaissance Phuket Resort & Spa and Multi Property Vice President – Phuket, Marriott International.
“This cookie-baking activity is a small token of our appreciation and a way of saying ‘thank you’ to everyone associated with our hotels and resorts. As we celebrate the opening of the Phuket Sandbox and welcome international guests back to Thailand, we are delighted to help create Miles of Smiles and look forward to a brighter, happier future.”
Follow Marriott International’s Miles of Smiles journey on social media channels via the hashtag #MarriottSmiles.
The hotels and resorts that took part in this initiative included Phulay Bay, a Ritz-Carlton Reserve, Krabi, Renaissance Phuket Resort & Spa, JW Marriott Phuket Resort & Spa, The Westin Siray Bay Resort & Spa Phuket, Le Méridien Phuket Beach Resort, Phuket Marriott Resort & Spa, Merlin Beach, Phuket Marriott Resort and Spa, Nai Yang Beach, The Naka Island, a Luxury Collection Resort & Spa, Phuket, Four Points by Sheraton Phuket Patong Beach Resort, Courtyard by Marriott Phuket Town, JW Marriott Khao Lak Resort & Spa, and Le Méridien Khao Lak Beach & Spa Resort.
Thai Start-Up Solving Fashion’s Waste Problem Beats Over 1,000 Applicants To Win Prestigious Seed Award
Winners of the SEED Awards will be awarded matching grants of between EUR 10,000 – 15,000 (382,000 – 573,000 baht), and will receive tailored one-to-one advisory services for up to a year to scale their operations, as part of the renowned SEED Accelerator programme.
AThai start-up which helps solve the problem of industrial fashion waste by upcycling dead-stock fabrics, has today been hailed as one of the winners of the SEED Low Carbon Awards (SEED Awards). SEED was founded as part of a global partnership between the United Nations Environment Programme (UNEP), the United Nations Development Programme (UNDP) and the International Union for Conservation of Nature (IUCN).
Founded in 2018 by entrepreneurs Amorpol Huvanandana and Thamonwan Virodchaiyan, Moreloop prevents surplus fabrics ending up in Thailand’s landfills by selling them to fashion designers or small-medium enterprises and repurposing them as products for corporate clients. By 2021, Bangkok-based Moreloop had prevented 317,001kg of CO2 emissions by using 60,000 yards of repurposed fabric to create 180,000 new products. A 70 per cent-women-led company and supplying partner companies which are also majority female-led, Moreloop contributes to female empowerment by creating direct employment opportunities. With SEED’s support, Moreloop can test its circular economy marketplace model in other countries across the region.
Four Thai enterprises were also selected as runners-up of the SEED Awards, including:
• Happy Grocers, which promotes sustainable agriculture methods such as organic, permaculture, foraging, vertical farming and farming using digital technology;
• Carenation, which creates paper and digital wreaths and other digital funeral services for local Thai communities;
• Find Folk, a one-stop service for sustainable tourism in Thailand; and
• GooGreens, a smart waste management platform which enables individuals to sell their rubbish in return for rewards.
Thai Start-Up Solving Fashion’s Waste Problem Beats Over 1,000 Applicants To Win Prestigious Seed AwardRita Schwarzelühr-Sutter, Parliamentarian State Secretary in the German Federal Environment Ministry (BMU), which is the primary sponsor of the SEED Low Carbon Awards, commented: “Micro and small enterprises play a vital role in the transformation to a decarbonised, more sustainable development. Many of these enterprises contribute greatly to this transformation. The SEED Awards are instrumental for scaling such enterprises, equipping the founders with the tools, knowledge and networks they need to maximise their impact within their local communities and beyond.”
The SEED Awards ceremony, taking place today at the UN’s High-level Political Forum on Sustainable Development (HLPF), will also see SEED present its ‘Green Recovery Snapshot’ findings, which calls on governments, donors, and financial providers to increase targeted support for MSMEs as they stimulate economic growth in a post-COVID world. MSMEs are responsible for creating seven out of ten jobs across emerging markets, and green and social MSMEs deliver environmental and social impact through their activities, products, and services, making them essential actors in achieving a green recovery.
Winners of the SEED Awards will be awarded matching grants of between EUR 10,000 – 15,000 (382,000 – 573,000 baht), and will receive tailored one-to-one advisory services for up to a year to scale their operations, as part of the renowned SEED Accelerator programme. In line with the principle of ‘awarding the best and moving the rest’, 39 runners-up will also be supported through the SEED Catalyser programme, to refine their business models and optimise their impacts while advancing their investment readiness.
SEED’s Director of Operations, Rainer Agster, added: “The calibre of SEED Award entries this year was outstanding, and we extend our congratulations to all nine winners and 39 runners-up. We hope the enterprises identified and promoted by the SEED Awards will be a source of inspiration for aspiring entrepreneurs across emerging economies. Through the SEED Awards, we will support 48 enterprises in 2021, and through our other programmes, several hundreds more. For each of those, however, there are thousands more eco-inclusive enterprises furthering SDGs which can be amplified with the right support. Therefore, we strongly encourage policy makers and financial actors to take a closer look at these eco-inclusive businesses and start or scale support programmes for them.”
SEED’s Coordinator for Thailand, Supapim Wannopas, said: “Moreloop demonstrates the critical role small-scale entrepreneurs play in developing Thailand’s circular economy, in this case by drawing on the power of data to create a marketplace for surplus textiles. Not only does it reduce landfill and greenhouse gas emissions, Moreloop also helps create a more diverse market by predominantly working with woman-led businesses. SEED is proud to support Moreloop and the Thai runners-up, Happy Grocers, Carenation, Find Folk Co., and GooGreens, in showing other MSMEs that low-carbon businesses can be both profitable and sustainable.”
Of the 2021 SEED Awards cohort, 69 per cent of enterprise leaders are 18-35 years-old and 52 per cent are female-led enterprises. Since their inception in 2005, the SEED Awards have awarded 311 enterprises in 40 countries and have facilitated the disbursement of over EUR 1 million in grants. Each individual SEED enterprise has saved an average of 7,300 tonnes of CO2, generated more than 9,399 kWh of renewable energy, and created 28.4 jobs, out of which 32 per cent are offered to people at the Bottom of the Pyramid (BoP).
For more information on the winners and runners-up, please visit the SEED website.
Canadian Court Rejects HSBC Evidence in Meng Wanzhou’s Extradition Case as Lawyer Reiterates Unreliable Nature of US Accusation
On 1 December 2018, more than five years after the meeting, Ms. Meng was arrested at Vancouver airport because the US wanted her to stand trial on charges including fraud.
According to the record of the case (ROC) provided by the U.S.to the Canadian court, Ms. Meng was charged with fraud because of a PowerPoint presentation she made at the request of HSBC their director of global banking for the Asia Pacific region Alan Thomas, on August 22, 2013. And the ROC would be the basis on which the Canadian court will decide whether to extradite Ms. Meng to the US.
On 1 December 2018, more than five years after the meeting, Ms. Meng was arrested at Vancouver airport because the US wanted her to stand trial on charges including fraud.
According to the ROC, the key basis of the US’s allegation in this case is that HSBC, especially the bank’s senior management, had been unaware of Huawei’s relationship with Skycom and therefore could only assess the risks it was facing based on Ms. Meng’s PowerPoint presentation.
Presented by Meng’s legal team, the new evidence showed that the continuing nature of Skycom’s business with Huawei was not kept from senior HSBC executives; that internal HSBC risk-assessments were made based on knowledge of the true facts; and that any reputational risks were managed with the knowledge of senior HSBC executives.
According to Mark Sandler, lawyer of Meng, the new evidence consists of reliable, contemporaneous business records that show the records of case (ROC) presented by U.S. to the Canadian court are “so defective as to compel the court to place no reliance on them.”
However, on June 9, the Canadian court ruled that it would not grant the introduction of the new documents in its entirety into the evidence of Meng’s extradition case.
As the defence team reemphasized, even though the court did not permit Meng to introduce additional evidence, it doesn’t mean the evidence doesn’t hold true. The new documents can prove clearly that two statements in the ROC, i.e. “HSBC executives were unaware of Huawei’s relationship with Skycom” and “HSBC relied on Meng Wanzhou’s PowerPoint presentation for decision-making”, are manifestly unreliable and have seriously misled the court.
According to the record of the case (ROC) provided by the U.S.to the Canadian court, Ms. Meng was charged with fraud because of a PowerPoint presentation she made at the request of HSBC their director of global banking for the Asia Pacific region Alan Thomas, on August 22, 2013. And the ROC would be the basis on which the Canadian court will decide whether to extradite Ms. Meng to the US.
On 1 December 2018, more than five years after the meeting, Ms. Meng was arrested at Vancouver airport because the US wanted her to stand trial on charges including fraud.
According to the ROC, the key basis of the US’s allegation in this case is that HSBC, especially the bank’s senior management, had been unaware of Huawei’s relationship with Skycom and therefore could only assess the risks it was facing based on Ms. Meng’s PowerPoint presentation.
Presented by Meng’s legal team, the new evidence showed that the continuing nature of Skycom’s business with Huawei was not kept from senior HSBC executives; that internal HSBC risk-assessments were made based on knowledge of the true facts; and that any reputational risks were managed with the knowledge of senior HSBC executives.
According to Mark Sandler, lawyer of Meng, the new evidence consists of reliable, contemporaneous business records that show the records of case (ROC) presented by U.S. to the Canadian court are “so defective as to compel the court to place no reliance on them.”
However, on June 9, the Canadian court ruled that it would not grant the introduction of the new documents in its entirety into the evidence of Meng’s extradition case.
As the defence team reemphasized, even though the court did not permit Meng to introduce additional evidence, it doesn’t mean the evidence doesn’t hold true. The new documents can prove clearly that two statements in the ROC, i.e. “HSBC executives were unaware of Huawei’s relationship with Skycom” and “HSBC relied on Meng Wanzhou’s PowerPoint presentation for decision-making”, are manifestly unreliable and have seriously misled the court.
Meng’s case has long been dragged into the politics of the U.S.-China trade war and technology competition. Just days after her arrest in 2018, US former President Donald Trump said he could intervene in the case if it helped secured a trade deal with China. In May 2019, Steve Bannon, a former senior Trump adviser, said, “killing Huawei is 10 times more important than a trade deal with China.” As a market leader focusing on R&D and innovation, Huawei seems to become a politicized target in this super power competition.
“There is gross political interference in this case by the United States. Ms. Meng was nothing less than a pun in trade negotiations between the United States and China,” said Richard Kurland, attorney at law in the provinces of British Columbia and Quebec, Canada, “The reason why Canada couldn’t do anything earlier is because of president Trump.”
For the next step, Meng will attend the Committal stage of her extradition hearings, set to take place in August.
“The hearings will continue, and as always we support Ms Meng in her pursuit of justice and freedom,” said the Huawei Canada statement.
TOOKDEE creates new wave of change in Thailand’s retail industry
TOOKDEE creates new wave of change in Thailand’s retail industry with “community store by the community, for the community” concept that modernizes local convenience store and revitalizes grassroots economy
Mr. Sathien Setthasit, Chairman of TD Tawandang, proprietor of TOOKDEE retail store, reveals that TOOKDEE brand aims to set new standard for convenience stores in local communities that are vital base of grassroots economy in Thailand. With elevated standard, knowledgeable operation and technology-based management, TOOKDEE is set to become the “community store by the community, for the community” that offers modern and friendly service to enhance living condition of the people in the communities.
TOOKDEE’s business model allows for all benefit. Everyone can become part of the changing process to modernize local-style convenience stores and shake up the Thai retail industry, and ultimately create more business opportunity to local community businesses all over Thailand.
TOOKDEE creates new wave of change in Thailand’s retail industryOwners of local convenience stores and local business partners earn more income from sales. Local entrepreneurs have more distribution channels through TOOKDEE shops, while the consumers in the communities have access to good quality products at affordable prices. Most importantly, TOOKDEE shops created a lot of job opportunities and employment through its branch and warehouse expansion, encouraging purchase and creating economic flow from urban areas to rural communities that better and improve the lives of the local communities. TOOKDEE is another driving force for Thai economy to thrive and recover from the stalling economy caused by the COVID-19 pandemic that devastated the Thai economy, employment rate and citizens’ income. TOOKDEE is expected to elevate local trade and commerce and revitalize the country’s grassroots economy.
Mr. Sathien states that the firm has developed the concept of TOOKDEE since 2019 with collaboration from convenience store entrepreneurs that contributed variety of products, equipment, know-how and technology to enhance the operation and beautify storefront. The company also works closely with various business partners to launch marketing activations and promotion advertisement at TOOKDEE stores to boost sales, strengthen local business, and create competitive edges to compete with big convenience store brands.
TOOKDEE was first launched two years ago during the pilot period in Nakhon Pathom, Khon Kaen and Udon Thani, then on to the northern and central regions of Thailand. Immediately after the launch, the feedback was satisfactory. Income of local convenience stores went from 3,000-5,000 THB daily to more than 10,000 THB, allowing store owners to break through economic dead ends and build better lives for themselves. TOOKDEE is growing against the tide of economic trend that has been devasted by the COVID-19 pandemic thanks to the business model that caters specifically to the local demographic that allows TOOKDEE to thrive sustainably alongside business partners and store owners.
TOOKDEE’s strengths include local ownership that best caters to the specific needs of the local demographic. TOOKDEE also carries local highlight products and indigenous goods of each locale to offer product diversity, boost sales and distinguish itself from other brands.
Currently there are more than 1,000 TOOKDEE shops nationwide, with plans to expand to 8,000 shops in 2021 and 30,000 shops in 2022. Expansion will ensure accessibility even at the most remote villages, especially those that already have convenience or retail stores in place.
To accommodate rapid expansion, TOOKDEE has established a provincial center to assist store owners in their new business venture, instill confidence and show readiness to accommodate local convenience store business in Thailand. The center allows potential store owners to immerse in TOOKDEE experience as buyer and seller, try out the equipment, browse through product selections, observe the interior design theme and test the POS system that will modernize and add efficiency to the operation. The center has dedicated TOOKDEE staff to assist and answer all questions to help store owner confidently land their first step in the TOOKDEE venture.
TD Tawandang is offering business opportunity to store owners and interested partners all over Thailand to join TOOKDEE, the local community convenience store network, to modernize and raise the standard of the Thai retail industry to international level and better the lives of Thai communities.
Funds outflows expected to pressure SET despite oil price recovery
The Stock Exchange of Thailand (SET) Index rose by 7.60 points, or 0.49 per cent, to 1,557.44 on Tuesday morning.
The SET Index had closed at 1,549.84 on Monday, down 2.25 points or 0.14 per cent. Transactions totalled THB75.44 billion with an index high of 1,561.72 and a low of 1,544.71.
Krungsri Securities predicted that the SET Index on Tuesday would fluctuate between 1,540 and 1,560 points despite higher oil price and hopes from the government’s economic relief measures.
However, it said the rise in domestic Covid-19 cases and volatility in foreign funds flows would pressure the index.
It recommended that investors buy:
▪︎ HANA, KCE, TU, CPF, ASIAN and EPG, which benefit from the weakening baht.
▪︎ BCH, CHG, BDMS, HMPRO, GLOBAL, DOHOME, BEM, CKP, CBG, ICHI and GPSC, whose second-quarter business turnover is expected to improve.
Effectiveness of measures to contain Covid to determine bahts direction
The baht opened at 32.67 to the US dollar on Tuesday, weakening from Monday’s closing rate of 32.65.
The Thai currency is likely to move between 32.60 and 32.75 during the day, Krungthai Bank market strategist Poon Panichpibool said.
Poon said that foreign investors had decided to sell their assets in Thailand due to uncertainty caused by the Covid-19 situation in the country. He said this situation would lead to a gradual weakening of the baht.
However, the situation could improve if preventive measures by the authorities are effective in containing the Covid-19 crisis.
On Monday, Poon predicted that the baht could fall to 33 to the US dollar if it passed a resistance between 32.70 and 32.80.
The price of gold in Thailand rose by THB100 per baht weight on Tuesday morning. The price has moved in positive territory for two consecutive days this week.
The Gold Traders Association report at 9.29am showed buying price of a gold bar at THB27,850 per baht weight and selling price at THB27,950, while gold ornaments were priced at THB27,348.64 and THB28,450, respectively.
At close on Monday, the buying price of a gold bar was THB27,750 per baht weight and selling price THB27,850, while gold ornaments were priced at THB27,257.68 and THB28,350, respectively.
Marriott Says “THANK YOU” In Southern Thailand With Miles Of Smiles Cookie-Baking CSR Campaign
Thai Start-Up Solving Fashion’s Waste Problem Beats Over 1,000 Applicants To Win Prestigious Seed AwardRita Schwarzelühr-Sutter, Parliamentarian State Secretary in the German Federal Environment Ministry (BMU), which is the primary sponsor of the SEED Low Carbon Awards, commented: “Micro and small enterprises play a vital role in the transformation to a decarbonised, more sustainable development. Many of these enterprises contribute greatly to this transformation. The SEED Awards are instrumental for scaling such enterprises, equipping the founders with the tools, knowledge and networks they need to maximise their impact within their local communities and beyond.”
TOOKDEE creates new wave of change in Thailand’s retail industryOwners of local convenience stores and local business partners earn more income from sales. Local entrepreneurs have more distribution channels through TOOKDEE shops, while the consumers in the communities have access to good quality products at affordable prices. Most importantly, TOOKDEE shops created a lot of job opportunities and employment through its branch and warehouse expansion, encouraging purchase and creating economic flow from urban areas to rural communities that better and improve the lives of the local communities. TOOKDEE is another driving force for Thai economy to thrive and recover from the stalling economy caused by the COVID-19 pandemic that devastated the Thai economy, employment rate and citizens’ income. TOOKDEE is expected to elevate local trade and commerce and revitalize the country’s grassroots economy.
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