CP Foods first in Thailand to receive ISO management innovation certification
Nov 06. 2020
By The Nation
Charoen Pokphand Foods (CPF)’s Bang Na feed mill is the first Thai operation to be granted international ISO 56002 certification for management innovation.
Siripong Aroonratana, COO of the company, received the certification from Punnee Angsusingha, president of Management System Certification Institute (Thailand) at CP Tower in Bangkok recently.
Punnee explained that the new ISO standard was initiated to provide a framework for a systematic innovation management, helping the organisation to get the most benefit out of their own innovations.
She praised CP Foods for continuously driving organisational development through innovation. She noted that the company was the first in Thailand to receive the new certificate, reflecting its status as world leader in the agro-industrial and food business that is constantly boosting its competitiveness and driving the food industry towards Thailand 4.0.
Siripong thanked the company’s management as well as all employees for their contributions to boosting innovation in the organisation.
Global Power Synergy Plc (GPSC)’s board of directors on Friday appointed Worawat Pitayasiri as new president and chief executive officer of the company, effective from December 1.
The board also acknowledged the resignation of Chawalit Tippawanich as president and CEO, effective from December.
Chawalit is leaving to take up the posts of IRPC’s president and CEO. The IRPC board of directors appointed him on November 5, effective from December 1.
GPSC said Worawat, 54, has many years of experience and expertise in technology and innovation management, which is in line with the firm’s vision and growth strategy as a global sustainable power leader and flagship of the PTT Group.
Worawat is currently senior executive vice president for Innovation and Digital at PTT. He has been with PTT Group for over 20 years, holding senior positions including executive vice president, Downstream Business Group Planning, executive vice president, Downstream Business Group Collaboration, and president of PTT MCC Biochem.
International Coaching Federation shares ideas on human resources amid virus crisis
Nov 06. 2020
By The Nation
The International Coaching Federation (ICF)’s Bangkok branch has proposed an agenda for national leaders, teachers and parents, to develop human resources that would boost Thailand’s push to become a top “S-Curve industry” country.
Ramida Russell Maneesatiean
The agenda was delivered last week at “Coaching DNA of Leaders”, an event organised by Bangkok’s ICF president Wittawat Kasemwut and presided over by Ramida Russell Maneesatiean, ICC International president and ICF committee member.
Jean-Francois Cousin
Jean-Francois Cousin, a world-renowned coach from ICF Professional Coach Global Board, described changing global trends in coaching as the world focuses on development from the youth level.
Cousin shared interesting coaching developments, such as giving children the opportunity to experiment freely to draw out their potential while adults keep watch from afar. He cited the example of Ray Charles, a blind musician-songwriter whose mother did not reach out to help while her sightless son wept for help, training him instead to learn how to survive by himself.
Chatchai Norasetthaporn, senior executive vice president of Sustainable Development at Central Group, said building leaders within companies by adopting coaching methods will play an important role in driving Thai education. He pointed out that the new national education strategy calls for teachers to be coaches. Teachers must change their methods to help students get involved in learning, he added.
Prasarn Trairatworakul, adviser of Central Group, said that old methods of education were no longer suited to the demands of the current era. The National Strategic Planning Committee had asked the Education Ministry to adjust the role of teachers towards coaching, and organised coaching training for teachers in schools. He said most teachers don’t know what a coach is, but after training they at least understand the culture and value of coaching. In today’s fast-changing world, teachers had to act as directors by engaging students in thinking, he added.
Lukkana WorasilchaiiLukkana Worasilchai, vice-rector of Bangkok University, said the Thai government still needs to improve education if Thailand wants to step up to become an S-Curve industry country. It should discuss learning based on the competencies and skills of the learner. What learners need is an ecosystem of education, a goal-oriented study plan, and a career-planning expert. Education should be characterised by lifelong learning, not requiring children to complete their studies within a time limit. Studying has to be a real experiment with a compact lesson for specific interests (“micro-learning”).
Pimonrat Reephattanavijitkul, executive vice president, Head of Human Resources at Charoen Pokphand Foods (CPF), said that CPF is a company with huge human resources – 120,000 people worldwide, 75,000 people alone in Thailand. Everything must proceed systematically. Adopting coaching methods helps a lot. Seniors must relearn and be open to new generations, drawing the power of these two groups for further development, she said, adding that coaching is very important. “We have a system of change by giving new graduates a chance to become a ‘boss’ to do real business with real funds and P&L to work with.” New graduates are given freedom to make decisions. A coaching process is guided by supporters [seniors], but they do not direct nor instruct since this would mean reverting to old paradigms.
Banpu NEXT, Tribeca Enterprise sign solar-energy deal for LK-Rich in Rayong
Nov 06. 2020
By The NationBanpu NEXT, a Banpu subsidiary and leading clean energy solution provider in Asia-Pacific, signed a pact with Tribeca Enterprise on Friday to set up a floating solar panel with a total capacity of 16 megawatts.
Tribeca is the developer of the LK Rubber Industrial City Hub (LK-Rich) in Rayong.
The solar energy set-up, the largest privately-owned development of its kind in Thailand, will power up LK-Rich and support its endeavour to become an eco-industrial town. The installation of the panel is scheduled to begin in February.
Somruedee Chaimongkol, chief executive officer of Banpu Pcl and Banpu NEXT, said the floating panel will be set up in a reservoir covering more than 4 million square metres.
Dr Luckchai Kittipol, chief executive officer of Tribeca, said: “Tribeca Enterprise has a vision to develop LK-Rich as the hub of the rubber industry where processed rubber is turned into value-added products, such as tyres and auto parts, as well as an eco-industrial estate where tenants, their employees and surrounding communities can lead a good quality of life.
“We aspire to be a hi-tech industrial estate that adopts advanced technology to assure high quality products using minimal time.”
He said this will require high energy, which is why Tribeca has been exploring opportunities to bring clean energy to LK-Rich.
“The installation work will begin in February, with completion planned within the same year,” he added. “Once operational, this solar floating panel will play a key role in boosting our energy efficiency. With the 20-year contract, we will be able to save more than Bt200 million in electricity cost, reduce pollution and bring added value to LK-Rich and its tenants,” Luckchai said.
“We plan to expand this industrial estate with an additional 3,000-rai development for S-curve industries. This clean energy project and our positioning as a high-tech industrial estate will help bring Thai and foreign investors to LK-Rich.”
Aspen Technology Delivers New Industrial AI Solutions to Accelerate the Journey to the Self-Optimizing Plant
Nov 05. 2020
Aspen Hybrid Models™ and Embedded AI Capabilities Will Change How Process Industries Achieve Goals for Improved Safety, Environmental Impact, Reliability and Profitability
Bangkok – October 27, 2020 – Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced the general availability of the aspenONE® V12 software release, which embeds artificial intelligence (AI) across the portfolio, and uses the cloud for delivery of enterprise-wide analytics and insights for increased safety, sustainability, and improved margins. AspenTech’s Industrial AI solutions democratize the application of AI where it can deliver most value and is a vital step towards the Self-Optimizing Plant.
“Aspen Hybrid Models™ are a major advance in the field of chemical engineering. Hybrid models are a major step forward in bringing together AspenTech’s process models and machine learning and are a game changer in process engineering and plant improvement,” said Dr. Karuna Potdar, Vice President, Technology Centre of Excellence, Reliance Industries Limited.
aspenONE® V12 solutions have the first Industrial AI hybrid model capability that is purpose-built for the process industries and other capital-intensive industries. Aspen Hybrid Models™ capture data from assets across the enterprise, and then apply AI, engineering first principles and AspenTech’s domain expertise to deliver comprehensive, more accurate models at enterprise speed and scale. With AspenTech’s four decades of knowledge about the unique challenges of building solutions for process industries and other capital-intensive industries, aspenONE® V12 enables customers to apply AI to critical processes without additional data science expertise and offers better support for new users without deep process knowledge or experience.
The process industries have embraced digital transformation to drive operational excellence and innovation as they respond to meet the needs of growing populations and expectations for sustainability. The new solutions in aspenONE® V12 address these unique challenges with better modeling accuracy, greater insights and improved total cost of ownership that can support evolving business needs and take advantage of the new digital native workforce.
“The process industries and other capital-intensive industries are experiencing new levels of volatility in supply and demand, and the need to be agile in response to all market conditions requires a new approach to asset optimization,” said Antonio Pietri, President and CEO, Aspen Technology. “In addition, they face higher expectations for efficiency and profitability, and increasing pressure to meet sustainability targets. This next generation of Industrial AI solutions will change how process industries work. The Self-Optimizing Plant represents the future of operational excellence, and we continue our commitment to innovate and deliver solutions that can accelerate our customers’ journey toward it.”
According to Peter Reynolds, Senior Analyst, ARC Advisory Group, “AI has the potential to enhance many industrial work processes; however, most companies are not well-equipped to bolt on AI themselves. AspenTech’s industry-specific applications with embedded AI will help companies accelerate transformation. While other technology strategies require asset owners to invest in complex platforms and data scientists, with embedded AI, users can get started right away improving margins and profitability.”
Francesco Mura, Digital Platform Manager, Process and Technology for Saras, sees the advantage for updating planning models. “Aspen Hybrid Models™ provide very efficient nonlinear planning model generation, taking information from Aspen HYSYS rigorous refining reactor models and offering a great deal of promise as a new approach for updating planning models.”
New Features of aspenONE® V12 software include:
Aspen Maestro™ – new capability for Aspen DMC3TM and Aspen Mtell®which automates the development of better models faster by guiding a less experienced user on how to build aparticular model or agent.
Aspen Deep-Learning IQ™ – enables the building of more accurate models and predictions.
Aspen Verify™ for Planning – uses AI to capture knowledge and check against plan to prevent costly mistakes.
Aspen Multi-Case™ – easily runs thousands of simulations cases concurrently, on-premise or in the cloud, allowing a more complete analysis so results can be used to navigate operational complexity and make more accurate decisions faster.
Aspen Event Analytics™ – provides rapid insight into production events. Fast, easy investigation of unexpected production events accelerates corrective action decision-making. Monitors and detects real-time events to enable rapid early intervention.
Aspen MES Collaborative™– delivers the connected enterprise. Aggregates data with an enterprise-level historian and connects small sites to eliminate stranded data.
Aspen Cloud Connect™– provides flexible connectivity with high performance and security to transfer data from edge to cloud.
Aspen Capital Cost Estimator Insights™(ACCE) – streamlines the user experience with out-of-the-box integration with ACCE and Aspen Enterprise Insights to provide visualization and collaborative workflow within a hybrid cloud environment.
Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.
Krungsri-MUFG virtual business-matching event breaks record with more than 300 matches
Nov 05. 2020Pornsanong Tuchinda, left, Krungsri head of Commercial Banking, and Yoshiyuki Horio, Krungsri head of Japanese Corporate and Multinational Banking.
By The Nation
Krungsri (Bank of Ayudhya) recently joined forces with Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, and one of the world’s largest financial groups, to organise the Krungsri-MUFG Virtual Business Matching Fair 2020. Krungsri’s eighth international business match-making event went online for the first time, attracting over 200 entrepreneurs and companies from Thailand, Asean and Japan, as well as regional organisations and MUFG partner banks.
The result was a record success rate of more than 300 matches.
In addition, Krungsri and MUFG provided online advice to support commercial customers and enhance their foreign business opportunities.
The business matching fair leveraged Krungsri’s local strength and MUFG’s extensive network to offer international solutions for commercial customers at a time of Covid-19 travel restrictions, said Pornsanong Tuchinda, Krungsri head of Commercial Banking.
Said Yoshiyuki Horio, Krungsri head of Japanese Corporate and Multinational Banking: “[The fair] had more than 200 participants consisting of entrepreneurs, buyers and sellers from Thailand, Japan and Asean countries, including the Philippines, Vietnam, Myanmar, and new joiner Indonesia. Meanwhile, Hong Kong also participated for the first time this year. Offering investment advice were four major international investment agencies – the Japan External Trade Organisation (JETRO-Bangkok), Yokohama Industrial Development Corp, Tokyo SME Support Center, and Aichi Prefecture ¬– along with five partner banks of MUFG – Krungsri Laos, Myanmar’s Co-operative Bank, Vietnam’s VietinBank, the Philippines’ Security Bank, and Bank Danamon Indonesia.”
The Krungsri-MUFG Virtual Business Matching Fair 2020 covered various sectors, ranging from consumer products, home furnishing materials and medical devices, to digital and innovation businesses.
The Office of Trade Competition Commission (OTCC) on Friday gave the green light to Charoen Pokphand (CP) Group’s deal to buy Tesco Stores (Thailand).
A majority of commissioners agreed the merger would not lead to a monopoly, but acknowledged it will increase CP’s dominance in the consumer goods retail segment.
They also said the merger could significantly reduce market competition but would not cause severe damage to the economy. They added it would not affect the benefits of consumers.
CP Group already operates 7-Eleven stores and the Siam Makro chain.
The commission set conditions and remedial measures for the purchaser to mitigate possible market impacts post-merger.
One of the conditions is that CP Group is banned from doing merger deals with other players in the consumer goods retail sector for three years. This rule does not apply to the e-commerce sector.
CP acquired Tesco Thailand and Tesco Malaysia in a deal worth US$10.6 billion early this year.
Thai Airways International (THAI) on Friday opened its first kiosk selling dough sticks or “pa tong go” at the EnCo Building C in Bangkok’s Energy Complex.
THAI began frying up the dough sticks outside the airline’s headquarters on Silom Road since September, attracting long queues of customers from 5am daily.
This kiosk serves up the fritters with a side of taro custard, as well as baked goods from its Puff & Pie catering outlets and signature beverages.
The treats will be sold Monday to Friday until January 31. The kiosk opens from 6.30am onwards.
By Syndication Washington Post, Bloomberg · Ann Koh, Alex Longley · BUSINESS
Oil fell a second day, dropping below $38 a barrel in New York, as a surging coronavirus and uncertain U.S. elections weighed on sentiment.
Futures dropped 2.2%, with equity markets also lower as investors took risk off the market. Joe Biden appeared to be on the brink of victory in the presidential race — amid increasing numbers of legal complaints from incumbent Donald Trump — but he may have to deal with a split Congress. Mounting coronavirus cases, with America becoming the first country to top 100,000 cases in a day, are also dragging oil lower.
Crude is ending a rough week with a decline, after gains in the first few days, as the demand outlook turns more grim. Refineries across the U.S. and Europe have shut as a result of the pandemic and traders continue to brace for high volatility. Even though Asia is a bright spot, the OPEC+ group is considering whether to postpone a production increase scheduled for next year to prevent a market glut.
“There is a definite negative sentiment in Europe and around the world at the moment, due to the restored lockdowns that are mushrooming across countries and regions,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy.
With the market continuing to wrestle with abundant stockpiles, the world’s largest independent provider of oil storage said it has no space for hire at key fuel trading locations. Royal Vopak NV’s total occupancy rate was the highest its been for any three-month period since the start of 2019.
And with a glut of stored products across the world, refiners continue to struggle. Royal Dutch Shell PLC said it will shut its 211,000 barrel-a-day Convent facility in Louisiana as part of the company’s plans to shrink its refining business after covid-19 hammered global demand and profits.
“It’s the pandemic, not the U.S. elections, that matter for oil in the near-term,” JPMorgan Chase & Co. analysts including Natasha Kaneva wrote in a report.
EconNov 07. 2020A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo on Oct. 29, 2020. MUST CREDIT: Bloomberg photo by Kiyoshi Ota.
By Syndication Washington Post, Bloomberg · Claire Ballentine, Vildana Hajric · BUSINESS, US-GLOBAL-MARKETS
U.S. stocks sputtered into the close of what is set to be the best week since April, with investors still awaiting an election outcome.
The S&P 500 fluctuated between gains and losses Friday in the wake of a four-day rally added more than $1.5 trillion to the value of stocks. Technology again outperformed, with the Nasdaq 100 up 9% this week. Hiring outpaced expectations in October, defying calls for a slowdown in the economy as the virus continues to spread at a record pace.
Investors remain focused on the outcome of the presidential election, where Joe Biden is widely expected to win a tight race. Democrats appear to have only a long-shot chance at Senate control, stoking expectation that any aid package will be thin and Biden won’t be able to roll back President Donald Trump’s tax cuts. Without a massive spending bill, the Federal Reserve may increase its monetary support to keep the economic recovery on track.
“Fiscal stimulus should be supportive even if it is less than expected, and we still expect a vaccine to become widely available by the second quarter of next year,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.
Yields jumped after a report showed the labor market improved in October by more than forecast. Ten-year note yields climbed back above 0.80% and the dollar lingered at a more than two-year low.
Votes are still being tallied in the U.S., with Biden tightening his hold on the race by taking the lead over Trump in Georgia and Pennsylvania.The president, however, questioned the credibility of the election, raising the prospect of a long stalemate as he challenges the results.
“Markets have risen under a variety of political regimes, but where it seems to do the best is a period of divided government in Washington when you have limited prospects for sweeping changes in legislation that would affect very legislative sensitive industries,” said Jeffrey Kleintop, chief global investment strategist at Charles Schwab Corp.
The U.S. became the first country to top 100,000 coronavirus infections in a single day. Fed Chair Jerome Powell warned this week that mounting infection rates are a risk to the recovery. Meanwhile, France warned of a “violent” second wave as it joined European countries including Italy and Poland in reporting new highs in daily infections.
Elsewhere, crude oil declined for a second day and gold was little changed.
“Given the big rally that we’ve had over a couple days, it’s going to have to take a pause at some point,” said Jim Paulsen, chief investment strategist at Leuthold Group.
These are some of the main moves in markets:
Stocks
The S&P 500 Index was little changed at 3,509.44 as of 4:06 p.m. New York time, the first retreat in a week.
The Nasdaq 100 Index increased 0.1% to 12,091.35, reaching the highest in more than two months on its fifth straight advance.
The Stoxx Europe 600 Index declined 0.2% to 366.40, the first retreat in more than a week.
The MSCI All-Country World Index rose 0.2% to 592.85, reaching the highest in more than two months on its fifth straight advance.
Currencies
The Bloomberg Dollar Spot Index dipped 0.3% to 1,149.91, the lowest in more than two years.
The Japanese yen appreciated 0.2% to 103.29 per dollar, the strongest in eight months.
The euro gained 0.5% to $1.1881, the strongest in more than two months.
Bonds
The yield on 10-year Treasurys jumped six basis points to 0.82%, the biggest surge in more than a month.
The yield on 30-year Treasurys climbed eight basis points to 1.60%, the largest surge in more than a month.
Germany’s 10-year yield climbed two basis points to -0.62%.
Britain’s 10-year yield increased four basis points to 0.274%, the highest in more than a week.
Commodities
West Texas Intermediate crude decreased 3.6% to $37.40 a barrel, the biggest dip in more than a week.
Gold strengthened 0.1% to $1,952.39 an ounce, the highest in more than seven weeks.
Worawat Pitayasiri 
Pornsanong Tuchinda, left, Krungsri head of Commercial Banking, and Yoshiyuki Horio, Krungsri head of Japanese Corporate and Multinational Banking. 
A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo on Oct. 29, 2020. MUST CREDIT: Bloomberg photo by Kiyoshi Ota. 
