Tag Archives: business

Baht feels the pressure from Covid-19 situation #SootinClaimon.Com

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https://www.nationthailand.com/business/40002983

The baht opened at 32.36 to the US dollar on Thursday, weakening from Wednesday’s closing rate of 32.28.

The Thai currency is likely to move between 32.30 and 32.40 during the day, Krungthai Bank market strategist Poon Panichpibool said.

Poon reiterated that the baht was being pressured by the Covid-19 situation in Thailand and the slow distribution of vaccines. He predicted the crisis would worsen compared to the previous outbreaks, as the Public Health Ministry reported on Thursday that there were 7,058 Covid-19 cases in the past 24 hours.

Poon said the baht would reach 32.50 per US dollar after passing the 32.25 mark.

Published : July 08, 2021

By : The Nation

Gold advances as US bond yield skids #SootinClaimon.Com

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https://www.nationthailand.com/business/40002980

The price of gold in Thailand rose by THB50 per baht weight in the morning trade on Thursday.

The Gold Traders Association report at 9.24am showed buying price of a gold bar at THB27,500 per baht weight and selling price THB27,600, while gold ornaments were priced at THB26,999.96 and THB28,100, respectively.

At close on Wednesday, buying price of a gold bar was THB27,450 per baht weight and selling price THB27,550, while gold ornaments were priced at THB26,954.48 and THB28,050, respectively.

Published : July 08, 2021

By : The Nation

Fed minutes of June FOMC under scrutiny for taper-timing hints #SootinClaimon.Com

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https://www.nationthailand.com/business/40002967

The record of the Federal Reserves meeting last month, which surprised investors with a hawkish pivot, will be scrutinized on Wednesday for any hints on when the central bank will pare back its support for the economy.

The Marriner S. Eccles Federal Reserve building in Washington, D.C., on June 26, 2021. MUST CREDIT: Bloomberg photo by Stefani Reynolds.

The Fed delivered a double-whammy at the June gathering after its quarterly economic forecasts showed officials expect two rate hikes in 2023 and Chair Jerome Powell announced the central bank was getting the taper debate into gear.

“We’re watching out for any clues that we might get regarding the tapering of asset purchases,” said Citigroup Global Markets chief U.S. economist Andrew Hollenhorst. “Any clues about the timing or the composition, but my expectations is that we won’t get too many details.”

Analysts will be combing through the minutes for details on tapering, including when it could start and what the pace might be — though that level of discussion might be more likely at upcoming Fed meetings, including its gathering later this month.

Minutes from the Fed’s June 15-16 meeting are scheduled to be released at 2 p.m. Washington time. Here’s what to watch out for:

– Taper timing: The Fed has been buying $80 billion of Treasuries and $40 billion of mortgage-backed securities every month in an effort to bolster the economy during the pandemic. After Powell indicated that the Federal Open Market Committee would start talking about when it might be appropriate to start reducing these purchases at subsequent meetings, a number of officials voiced support for starting the process sooner rather than later, including before the end of this year.

Atlanta Fed President Raphael Bostic said that the central bank could start slowing its asset purchases in the next few months as the economy recovers faster than expected from the pandemic.

The Dallas Fed chief, Robert Kaplan, has said he wants the process to start “soon,” so as to avoid excess risk taking in markets and so that the Fed won’t need more aggressive measures, including rate hikes, to halt financial excess later.

San Francisco Fed President Mary Daly, customarily a more dovish member of the committee and, along with Bostic, a voter on monetary policy this year, told the Associated Press last week that a start to tapering this year may be appropriate.

Kaplan and St. Louis Fed President James Bullard have also indicated they may be in favor of tapering MBS purchases first, as surging price increases in the housing market fan worry it is overheating.

– Inflation fears: The Fed has said since December that it would continue its bond purchases until it had achieved “substantial further progress” on its employment and inflation goals.

Some Fed officials have expressed concern with recent price increases amid a quickening reopening and supply-chain constraints, while most note that it’s likely temporary. The minutes may provide a clue on whether more officials are viewing the higher inflation readings as potentially longer-lasting.

Powell and others have said that the U.S. is likely to see robust payrolls growth this summer and into the fall. The economy has averaged more than 600,000 new jobs per month since January, including 850,000 in June, the biggest gain in 10 months, government data released last week showed.

Reports of businesses, especially in the restaurant industry, struggling to find workers indicate to some Fed officials that the labor market is tightening.

Morgan Stanley economist Ellen Zentner said in a note published Tuesday that the jobs report doesn’t indicate a big swing toward maximum employment, but does keep taper talks on the table.

“It keeps the Fed on track to hammer out the details on how to taper at its meeting later this month,” Zentner wrote, referring to the Fed’s July 27-28 meeting.

– Dot plot: Policymakers were also more hawkish in June about interest-rate tightening.

Besides the change to the 2023 median estimate, the dot plot — a graphical representation of each official’s rate forecast — also showed seven of the 18 members projecting a rate hike next year, versus just four in March. While it didn’t shift the median from no hike in 2022, it indicates building momentum for a hike sooner than previously expected.

Fed watchers will be on the lookout for any hint in the minutes of discussion around normalizing rates, including how policy makers are thinking about their new framework, which aims to average inflation at 2% over time and mitigate employment shortfalls.

Prices have risen substantially the last few months, with the Fed’s preferred gauge reaching 3.9% in May, while some measures of household inflation expectations have also mounted.

“Part of the idea with the new framework for monetary policy is to get those expectations higher and get them stably higher,” said Hollenhorst. “Are officials seeing this as too high, as something they need to respond to, as inflation expectations becoming unanchored? There could be a really interesting discussion there.”

The June meeting, with its surprises, geared markets up for what’s likely to be an eventful summer. In addition to the next FOMC meeting, the central bank hosts its annual policy retreat outside Jackson, Wyoming in late August. The event has served as a setting for important announcements in the past and is already being viewed as a potential venue for Powell to signal that taper is coming.

Published : July 08, 2021

By : Syndication Washington Post, Bloomberg · Catarina Saraiva

Markets wrap: Stocks, bonds rise as minutes show taper debate #SootinClaimon.Com

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https://www.nationthailand.com/business/40002961

U.S. stocks rose to record highs and bonds gained after minutes from the Federal Reserves latest meeting showed policy makers continued to see elevated uncertainty and debated the tapering of debt purchases.

Ten-year U.S. note yields fell for a second day, dropping below 1.3% for the first time since February, amid concern the global inflation trade could be faltering. The S&P 500 and Nasdaq Composite swung between gains and losses after setting records. Energy shares were the big losers in the benchmark S&P.

“Markets are still enjoying this Goldilocks period that we are in, but I think this is peak momentum for the reopening trade,” said Don Calcagni, chief investment officer of Mercer Advisors.

Fed officials expected to continue to make progress on reaching its threshold to scaling back their massive asset purchases, the record of their June gathering showed. Various participants mentioned that they expected the conditions for beginning to reduce the pace of asset purchases to be met somewhat earlier than they had anticipated at previous meetings.

The June meeting marked a turn in the central bank’s comfort with inflation risks amid heightened price pressures as the economy reopens from the pandemic, buoyed by massive monetary and fiscal-policy support.

“They’re quite disconnected from the bond market,” said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors. “If more Fed officials are worried about inflation and see us making strong economic progress to where asset purchases can be tapered earlier then yields should be going up, not down.”

The dollar was little changed against a basket of major currencies. Oil fell amid the OPEC+ crisis, which has stymied efforts to raise production and buffeted prices.

Elsewhere, Bitcoin gained and gold advanced for a sixth day. Australian and New Zealand bonds rallied. Asian stocks fell, with Chinese tech firms in Hong Kong retreating after Beijing’s cybersecurity probe of ride-hailing giant Didi Global Inc.

Here are some events to watch this week:

– The Group of 20 finance ministers and central bankers meet in Venice on Friday

– China PPI and CPI data released on Friday

These are some of the main moves in markets:

– – –

– The S&P 500 rose 0.3% to a record high as of 2:36 p.m. New York time

– The Nasdaq 100 rose 0.2% to a record high

– The Dow Jones Industrial Average rose 0.1%

– The MSCI World index rose 0.1%

– – –

– The Bloomberg Dollar Spot Index was little changed

– The euro fell 0.1% to the lowest since April 2

– The British pound was little changed at $1.3806

– The Japanese yen strengthened 0%, rising for the fourth straight day, the longest winning streak since June 29

– – –

– The yield on 10-year Treasuries declined three basis points to the lowest since Feb. 18

– Germany’s 10-year yield declined three basis points to the lowest since April 9

– Britain’s 10-year yield declined three basis points to the lowest since Feb. 17

– – –

– West Texas Intermediate crude fell 1.7% to $72.11 a barrel

– Gold futures rose 0.6%, climbing for the fifth straight day, the longest winning streak since May 20

Published : July 08, 2021

By : Syndication Washington Post, Bloomberg · Claire Ballentine, Kamaron Leach

Stock trading tax would damage SET’s competitiveness: ASPS #SootinClaimon.Com

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https://www.nationthailand.com/business/40002948

The governments move to collect tax on stock trading would affect the Stock Exchange of Thailand (SET)s competitiveness, Asia Plus Securities (ASPS) said on Wednesday.

Earlier this week, Bloomberg and Reuters reported that Thailand is considering a tax of 0.11 per cent on share sales of more than 1 million baht per month by individual investors.

ASPS said the government has suspended such tax collection since 1991.

The Fiscal Policy Committee and SET have declined to comment on the tax, it added.

“FPO director-general Kulaya Tantitemit said her office cannot reveal which tax was being considered by the Finance Ministry, but said the improvement will help enhance the country’s competitiveness,” ASPS said.

“Meanwhile, SET president Pakorn Peetathawatchai refused to comment on this case, saying the SET had no authority to make a decision.”

ASPS said the tax would generate revenue of up to 20 billion baht per year from high-worth investors who trade up to 3 million baht per month.

“The government can generate about 12 billion baht based on transactions of 11.3 trillion baht in the first half of this year,” ASPS said.

However, ASPS said taxing stock sales would affect SET’s competitiveness as returns on investment would drop due to higher transaction costs, triggering a decline in transactions.

“We have to wait for government agencies to clarify this case, but we believe that they will not implement guidelines soon,” ASPS added.

Published : July 08, 2021

By : The Nation

Taiwanese businesses raise THB2.5m to help victims of chemical inferno #SootinClaimon.Com

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https://www.nationthailand.com/perspective/40002953

The Taiwanese business community in Thailand raised 2.5 million baht to help those who have suffered from the factory blast and ensuing chemical fire in Samut Prakan’s Bang Phli district.

The fire, which was sparked in the early hours of Monday in the Taiwanese-owned Ming Dih Chemical factory, damaged many houses in the vicinity, injured several people and killed a 19-year-old firefighter.

The Taiwan Business Association on Wednesday handed over the cash, 12,000 N95 masks, 48,000 medical masks and12,000 bottles of drinking water to Samut Prakan governor Wanchai Kongkasem and provincial police chief Pol Maj-General Chumphon Phumpuang.

Herbert Hsu, deputy director-general of the Taipei Economic and Cultural Office in Thailand, said the Taiwanese business community wanted to express condolences and salute the bravery of Kornsit Laophan, who lost his life helping others.

Of the 2.5-million-baht donation, 300,000 baht will be given to the family of Kornsit, 10,000 baht each to the 30 people who sustained serious injuries and 5,000 baht each to the 30 people who sustained minor injuries. The remaining 1.75 million baht and other necessities will be distributed among migrant workers living in the vicinity.

In a statement issued on Tuesday, Ming Dih Chemical Co said it will be responsible for all reimbursements based on the result of an investigation and the company’s headquarters will also send staff to Thailand to follow up on the situation.

Published : July 07, 2021

By : The Nation

airasia takes a quantum leap towards becoming a leading tech giant by acquiring Gojek’s Thailand operations #SootinClaimon.Com

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https://www.nationthailand.com/business/40002947

airasia takes a quantum leap towards becoming a leading tech giant by acquiring Gojek’s Thailand operations

Gojek to increase investment in its Vietnam and Singapore operations in realigned strategy; will acquire shareholding in the airasia Super App

airasia Digital, the digital arm of airasia Group and Gojek, Southeast Asia’s leading mobile on-demand services and payments platform, today revealed a partnership whereby airasia Digital will acquire Gojek’s operations in Thailand.

This win-win deal is expected to rev up expansion of the airasia Super App in Asean, while enabling Gojek to increase investments in its Vietnam and Singapore operations.

In return, Gojek will receive shareholding in the airasia Super App whose market value is around USD1 billion. The deal provides both parties with a strong foundation to explore additional opportunities for collaboration and synergies in one of the fastest-growing regions in the world.

As part of its commitment to Thailand, the airasia Super App aims to continue to leverage the existing ecosystem services for riders, merchants and customers while adding new offerings, such as groceries and beauty items. It will seek regional expansion into new markets like Chiang Mai and Phuket in the near future.

The Gojek app will continue to operate for existing users in Bangkok through to 31 July 2021 to ensure stability for Gojek drivers and merchants – who will be invited to onboard the airasia Super App in coming weeks.

airasia will work with the existing Gojek team in Thailand, who will operate the Gojek business during the transition period before moving over to the airasia super app, bringing local market expertise and a deep understanding of Thai user needs to the business.

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At the same time, in a realignment of its international strategy, Gojek is increasing investment in its Vietnam and Singapore operations, having identified these markets as strong sources of growth for the business going forward. This includes increased driver and merchant acquisition initiatives, enhancements to user experience as well as launching new products and services.

airasia Group CEO Tony Fernandes said today’s announcement is “the start of a tremendous long term strategic partnership with Gojek which is sure to rock the industry.

“By taking on Gojek’s well-established Thai business, we’ll be able to turbo charge our ambitions in this space to become a leading Asean challenger super app.

“We already have a complete digital economy ecosystem. We have successfully established over 15 different non airline products and lifestyle services on our digital e-commerce platform in Malaysia. Now it’s time to take it to the next level. In response to overwhelming regional demand, we are setting our sights on bringing our Super App offerings to all of our key markets, following the successful roll out in Thailand.

“All of our digital businesses are going from strength to strength and through this alliance, our goal of becoming the Asean Super App of choice is fast becoming a reality.”

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Gojek CEO Kevin Aluwi, said, “This deal is a testament to the accomplishments of our team in Thailand, who grew the business from nothing to an on-demand service provider that has made a difference to hundreds of thousands of people throughout the country. The business was built on a huge amount of talent and passion and we will of course, work closely with our Thai employees as well as airasia through this transition. We are proud of and deeply grateful for everything Gojek Thailand has achieved, as well as for our loyal Thai consumers and driver and merchant partners, who have always been at the heart of what we do.

“airasia Digital and the airasia Super App will become a highly valued partner for us as we share the same goal to provide users with better services, while enhancing the livelihoods of drivers and merchants. At the same time, the deal will enable us to pivot our focus in international markets towards Vietnam and Singapore – markets providing us with the best return on investment and strategic growth opportunities.”

President of airasia Digital, Aireen Omar, said the announcement of this collaboration delivers proof of the success of our digital transformation and pivot from an airline to a one stop lifestyle super app, anchored on travel. 

“What we have achieved in the past year is incredible, including changing the mindset of thousands of Allstars (staff) from an airline mentality to becoming digitally focused, which is no mean feat. The airasia Digital group consists of three key digital companies, namely the airasia Super App which provides a lifestyle platform for travel, e-commerce, financial services, farm to table, health and edutech products and services. Our logistics venture Teleport, is the fast growing e-commerce logistics company, ready to offer instant door-to-door deliveries as well as delivering within 24hrs across all of Southeast Asia and airasia’s BigPay fintech business is now on track to become the region’s first virtual bank. 

“The future is exciting as we continue to forge ahead with many new innovations to truly embrace the digital era and make a difference to people’s everyday lives.”

Meanwhile, on behalf of AirAsia Thailand’s major investor, AirAsia Thailand Executive Chairman, Mr Tassapon Bijleveld said “The airasia brand is already strong in Thailand and we are thrilled to confirm this partnership today supporting the upcoming launch of the airasia Super App in the kingdom and cementing a long term future for Gojek’s employees, drivers and merchants. Not only will it support local SMEs and fresh food suppliers, but will also create more income-earning opportunities for delivery drivers in the new markets we aim to launch soon.

“Thai people are already ahead of the curve in embracing the digital revolution, mobile and real time activities including e-commerce, fintech and online entertainment are a way of life. I believe we can leverage what Gojek has already achieved in Bangkok and really take it to new heights to deliver greater convenience and price competition for the people of Thailand.”

Published : July 07, 2021

Prof. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnel #SootinClaimon.Com

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https://www.nationthailand.com/business/40002904

Prof. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnel

The RITA Foundation invited public and private sectors organizations as well as foundations, associations, and universities to nominate award worthy candidates, and this year there were 33 award nominees.

Her Royal Highness Princess Maha Chakri Sirindhorn granted the 2021 Ratanarajasuda Information Technology Award (RITA) to Prof. Dr. Pairash Thajchayapong for his exceptional contribution in the field of information technology to Thai society through widely recognized and concrete work. Organized for the first time in Thailand this year by the Ratanarajasuda Information Technology Award (RITA) Foundation, the award package includes a sum of 2 million baht and a royally granted honorary gold pin, plaque, and certificate.

Prof. Dr. Pairash Thajchayapong is a prominent figure in Thai information technology circles, thanks to his exceptional contribution to science and IT research and development for all, including the underprivileged in the society. For over half of his life, he has played an important role in driving the country’s foundation of science and IT research through development and competitiveness enhancement, preparing Thailand’s smooth and organized transition into the IT era. Beginning his career in 1975, he has been an executive in the field of IT and higher education, including positions as the first Director of the National Electronics and Computer Technology Centre (NECTEC), the second Director of the National Science and Technology Development Agency (NSTDA), Rector of King Mongkut’s Institute of Technology Ladkrabang, and Permanent Secretary to the Ministry of Science and Technology. After retirement, he has continued his devotion to IT research and development in development agencies, charitable organizations, and foundations by sharing his IT knowledge, capabilities, and passion.

Prof. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelProf. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelAmong useful works for people at large, cone-beam computed tomography (CBCT) is the latest work developed by a research team led by Prof. Dr. Pairash. This is an advancement in medical equipment R&D management from laboratory to manufacturing, with quality matching that of imported equipment but at lower cost, helping save foreign currency. CBCT is now available in 3 models, namely, DentiiScan – a computerized x-ray scanner for dentistry and oral and maxillofacial surgery, MobiiScan – a computerized mobile 3D x-ray scanner for reclining patients, and MiniiScan – a small computerized x-ray scanner for target volume definition in operation rooms. These CBCT varieties help patients with a wider range of needs.

Prof. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelProf. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelProf. Dr. Pairash is a pioneer, innovator, and founder of IT knowledge, helping others to further develop recognized works. He has also promoted opportunities for a new generation of researchers, lecturers, and college students to gain knowledge and experience through workshops, seminars, and laboratory training at world-renowned institutions as well as IT educational opportunities in international institutions. This is an important contribution to the country’s human capital development. Prof. Dr. Pairash is a role model for ethics and career dedication with continuous studies and research. He always keeps abreast of academic advancement and new technologies. Prof. Dr. Pairash is not only a scientist and IT veteran, but also a mentor, an executive, a thinker, an innovator, and an exemplary figure in the field of science and IT.

Prof. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelProf. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnel

Ratanarajasuda Information Technology Award (RITA) Foundation Chairman Dr. Thaweesak Koanantakool said that, “The name of the RITA Foundation is granted by Her Royal Highness Princess Maha Chakri Sirindhorn, along with HRH’s initials as part of the foundation’s logo and the award name. It is an auspicious beginning of the award nomination and presentation in 2021 for the first time in Thailand. The Ratanarajasuda Information Technology Award is Thailand’s most prestigious IT award ever to recognize the importance of IT people in Thailand, to help motivate them to continue their work to benefit society and promote more IT innovators and developers in Thailand in order to improve the quality of life and the country’s IT competitiveness. Our foundation seeks to honor Thai IT people who are dedicated to excellence in IT R&D and innovations, as well as those who play a vital role in innovations and IT foundation for the country’s betterment, and positive impacts in such areas as the economy, society, environment, public health, education, and more, especially for the underprivileged.

Prof. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelProf. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelThe RITA Foundation invited public and private sectors organizations as well as foundations, associations, and universities to nominate award worthy candidates, and this year there were 33 award nominees. A judging panel comprised of a distinguished committee of 7 members was chaired by Prof. Emeritus Dr. Kasem Wattanachai and the foundation committee of 11 members was chaired by me. Through an intensive screening process, the judging panel resolved that the award will go to Prof. Dr. Pairash Thajchayapong, the first awardee in Thailand.”

Taking about the award, Prof. Dr. Pairash Thajchayapong said that, “I am overwhelmed with such an honor and an audience with Her Royal Highness Princess Maha Chakri Sirindhorn. Throughout my career, I have worked to use IT to help improve people’s lives, bring them direct benefits, and commercializing developments to achieve sustainability. Standard and safe technology at a lower cost is crucial to saving foreign currency. Cone-beam computed tomography (CBCT) is among the works I am proud of. With its high precision, it helps doctors by providing deep and precise analysis and effective treatment. More importantly, it helps the underprivileged by providing them with equal access to medical care featuring advanced technology. I am glad that others can benefit from the technology invented by my research team, and I am proud that all the researchers on our team have brought about advantages for the Thai people.”

Prof. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelProf. Dr. Pairash Thajchayapong is the first person to grab the Ratanarajasuda Information Technology Award (RITA), Thailand’s ultimate accolade for IT personnelOn this occasion, the Ratanarajasuda Information Technology Award Foundation would like to thank award sponsors for their mutual aspiration to drive Thailand’s sustainable and exponential IT development, namely Siam Commercial Bank (SCB), Hauwei Technology (Thailand), Data One Asia (Thailand), Accenture, WHA Corporation, Netbay, and Trade Siam. For more information about the Ratanarajasuda Information Technology Award Foundation, please visit www.rita.or.th

Published : July 06, 2021

BTS Group Announce The Success Of Bond Issuance For Debt Refinancing With More Than 2.1 Times oversubscription #SootinClaimon.Com

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https://www.nationthailand.com/business/40002895

BTS Group Announce The Success Of Bond Issuance For Debt Refinancing With More Than 2.1 Times oversubscription

BTS GROUP ANNOUNCE THE SUCCESS OF BOND ISSUANCE FOR DEBT REFINANCING WITH MORE THAN 2.1 TIMES OVERSUBSCRIPTION, AND RECENTLY WINNING “TRANSPORT DEAL OF THE YEAR” – THE ASEAN-REGIONAL AWARD FROM THE ASSET

BTS Group Holdings Public Company Limited (“The Company” or “BTSG”) successfully issued senior unsecured Bonds to institutional and high-net-worth investors with 2.1 times oversubscription, in which the Company decided to exercise greenshoe option, bringing total Bonds issued to THB 13,000 million. The Bonds were rated ‘A’ by TRIS Rating and will be used for debt refinancing. In addition to this, BTSG recently won the “Transport Deal of The Year” Award, a regional award from The Asset Triple A Infrastructure Awards 2021 by The Asset, the leading financial magazine in Asia, for THB 8,600 million Green Bond Issuance in November 2020, emphasising BTSG’s commitment in sustainable business practice.

BTS Group Announce The Success Of Bond Issuance For Debt Refinancing With More Than 2.1 Times oversubscriptionBTS Group Announce The Success Of Bond Issuance For Debt Refinancing With More Than 2.1 Times oversubscription

Mr. Surayut Thavikulwat, Chief Financial Officer of BTSG announced that “the Company had successfully issued 3 tranches of senior unsecured Bonds amounting to THB 13,000 million placed to institutional and high-net-worth investors during 1-2 and 5 July 2021. The Bonds received warm responses from investors, with more than 2.1 times oversubscription on BTSG’s initial target issue size of THB 8,000 million. Therefore, BTSG decided to exercise green shoe option of THB 5,000 million to meet the demand for investors. The Bonds were rated ‘A’ by TRIS Rating Co., Ltd. on 27 May 2021.”

The 3-tranche offering was comprised of 3-year bond with a fixed interest rate of 1.79% p.a. amounting to THB 1,500 million, 5-year bond with a fixed interest rate of 2.53% p.a. amounting to THB 3,500 million and 10-year bond with a fixed interest rate of 3.77% p.a. amounting to THB 8,000 million. The Bonds were arranged by Bangkok Bank Public Company Limited and The Siam Commercial Bank Public Company Limited, the Joint Lead Arrangers.

Mr. Thavikulwat also mentioned that, “we would like to thank investors for their trust and interest in subscribing for BTSG Bonds and we would like to also thank Bangkok Bank Public Company Limited and Siam Commercial Bank Public Company Limited, the Lead Arrangers, for their support and contribution to this achievement. The Bond proceeds will be used for debt refinancing. The success of this Bond offering as well as the previous transactions will support and drive us to continue to offer Bonds to meet investors demand going forward.”

In addition to the aforementioned Bond issuance, BTSG has been recently awarded “Transport Deal of the Year” from The Asset Triple A Infrastructure Awards 2021, organised by The Asset, the leading financial magazine in Asia, for the issuance of BTSG Green Bonds amounting to THB 8,600 million in November 2020. The Green Bonds, with tenors ranging from 2-year to 10-year, were placed to institutional and high-net-worth investors with Bangkok Bank Public Company Limited, Krung Thai Bank Public Company Limited and The Siam Commercial Bank Public Company Limited as the Joint Lead Arrangers.

The “Transport Deal of The Year” Award was granted to the Bonds in Transportation Category, having outstanding fund-raising structures with a focus on the Sustainable Infrastructure which BTSG Green Bonds exceedingly achieve the criteria in all respects as the proceeds of the Green Bonds were used for investment and debt repayment of the two monorail mass transit projects; the Pink Line Project (Khae Rai-Min Buri section) and the Yellow Line Project (Lad Prao-Sam Rong section). Both projects are the anchored projects that will elevate Bangkok’s electric mass transit network which will lessen the use of fossil-fueled vehicles resulting in the reduction of carbon emission, and fine dust particles (PM2.5) in Bangkok metropolitan area.

“The issuance of BTSG Green Bonds stemmed from the Company’s strong determination towards sustainable financing and to offer investment opportunity to investors in good and environmentally friendly projects of the Pink and Yellow Line Monorails, and be a part of the sustainable solution to help mitigate air pollution and provide convenient public transport in Bangkok metropolitan area. Moreover, the prestigious Award from The Asset reflects BTSG’s commitment to operate business through sustainable business practices and always to set a rigorous environmental, social and governance framework. Our sustainable commitment has been acknowledged through awards and recognitions we received at both national and international level, such as being included in the DJSI for the 3 consecutive years (2018-2020) and ranked first globally in the DJSI Transportation and Transportation Infrastructure Sector. Recently, we are honored to be the first and only rail carbon neutral transportation company certified by the Thai Government’s Thailand Greenhouse Gas Management Organisation.”, said Mr. Thavikulwat.

Published : July 06, 2021

dtac launches proof-of-concept 5G Private Network to Boost Thai Industry #SootinClaimon.Com

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https://www.nationthailand.com/business/40002892

dtac launches proof-of-concept 5G Private Network to Boost Thai Industry

Collaborating with AWS, dtac unveils proof-of-concept 5G Private Network services with edge computing 5G Private Networks are expected to accelerate the digital transformation of automotive manufacturing, shipping, and public health dtac urges Thai businesses to explore how 5G Private Networks can support their future use cases

dtac announced the launch of its proof-of-concept 5G Private Network solution to unlock the full potential of 5G for Thai enterprises. The solution is envisaged to help enterprises operate more efficiently and securely, while also unlocking the full power of Cloud through edge computing integration. As a proof of concept, dtac also unveiled a real-time, artificial intelligence (AI)-based Video Analytics solution in its corporate headquarter ‘dtac House’, covering Covid-19 use-cases, such as personal protective equipment (PPE) Compliance, Intrusion Detection, People Occupancy and Physical Distancing. The solution has been developed in collaboration with Amazon Web Services (AWS), utilizing dtac’s 5G Private Network and AWS Snowball Edge, a device with on-board storage and compute power for select AWS capabilities. AWS Snowball Edge can do local processing and edge-computing workloads in addition to transferring data between local environments and AWS.

5G Private Networks can power mission-critical systems that require ultra-high reliability, ultra-low latency, 99.999 percent availability, and very high security. When integrated with edge-computing capabilities, private networks can provide customers with a scalable, customizable platform to take advantage of developments in new generation technologies such as Internet of Things (IoT), AI/machine learning (ML), augmented reality (AR)/virtual reality (VR), real time analytics and much more.

dtac launches proof-of-concept 5G Private Network to Boost Thai Industrydtac launches proof-of-concept 5G Private Network to Boost Thai IndustryBridging the Industry’s Digital Revolution

With Covid-19 impacting the economy and accelerating changes in consumer behaviors, there is increasing pressure on businesses to save costs, strengthen their supply chains, and serve customers more quickly. dtac has identified a wide range of industries in Thailand that would benefit from 5G Private Networks to improve operational efficiency and accelerate digital transformation. Collaborating with AWS for its first proof of concept, dtac demonstrated how private networks can enable smart solutions for the new normal with an automated system designed to ensure social distancing.

Mr. Rajiv Bawa, Chief Business Officer, Total Access Communication PLC or dtac, said, “5G Private Networks can unlock the potential of Thailand’s entrepreneurs/businesses embracing digital transformation. This is especially true in the post-Covid-19 economy in which the deployment of IoT applications, automation, and edge computing are critical for businesses’ recovery and resilience. The key benefit of a private network is that it can be custom-built for specific use cases for each corporation. In particular, we see fantastic potential in vertical industries such as manufacturing, automotive assembly, shipping, logistics, public health, and agriculture.”

dtac launches proof-of-concept 5G Private Network to Boost Thai Industrydtac launches proof-of-concept 5G Private Network to Boost Thai Industry

While nearly every industry can benefit from a private network, IoT, robots, and manufacturing automation are among the most significant use cases requiring machine-critical performance and security. In addition to peace of mind, 5G Private Networks also support advanced requirements for digital transformation and automated manufacturing requiring ultra-high data transfer speeds or near-zero latencies.

Mr. Bawa added, “Not only can 5G Private Networks lift the corporate infrastructure by enabling high performance, but they are also shielded from public network threats of attacks from hackers who may otherwise use a public network to breach into corporate data or IoT devices.”

dtac launches proof-of-concept 5G Private Network to Boost Thai Industrydtac launches proof-of-concept 5G Private Network to Boost Thai Industry

The Two Types of dtac 5G Private Networks

The first type of dtac 5G Private Networks is the standalone private network. The network hardware includes edge computing operating on 26 GHz 5G and is not connected to a public network. Optimal data transfer performance is assured due to an exclusive corporate network with low latency, superior security, and isolated data traffic.

The second type is the hybrid private network. 5G and 4G connectivity are combined with base stations installed within the corporation and a public radio access network (RAN). Data processing is isolated within the corporate edge computing but can be stored in hyperscale data centers with superior security.

dtac Demonstrates 5G Private Network Applications

In collaboration with AWS, the world’s most comprehensive and broadly adopted cloud platform.

dtac demonstrated a proof-of-concept for a 5G Private Network at the dtac House headquarters. The demonstration features a smart camera that can analyze distances among individuals in real-time to detect breaches of social distancing rules. The demonstration runs on a 5G Private Network to enable ultra-fast processing using edge computing.

r. Fabio Cerone, Managing Director, Telco Business Unit, Europe, the Middle East and Africa, Amazon Web Services (AWS), said, “AWS is excited to be working with dtac to launch a brand new service that takes advantage of 5G and edge cloud computing to deliver industry specific low latency use cases. By providing edge cloud infrastructure that moves data processing close to where data is, we will allow customers to take advantage of use cases based on Artificial Intelligence and Machine Learning running inference at the edge. We look forward to deepen our collaboration with dtac and continue to drive innovation and enhance customer experience.”

5G Private Networks are an emerging technology in the Asia-pacific region. Apart from this collaboration with AWS, dtac also works closely with other strategic partners, such as Telenor. In Europe, Telenor has been deploying private networks for various use cases including security, healthcare, retailing, and robots. dtac is benefiting from Telenor’s expertise. dtac currently holds a 5G license with a 26 GHz spectrum which supports 5G Private Network services for all corporate customer requirements.

Published : July 06, 2021