The Thai National Shippers’ Council has changed its forecast of export contraction this year to minus 7 per cent from minus 8 to minus 10 per cent due to improvement in global grade, its chairperson Ghanyapad Tantipipatpong said.
She explained that though the number of orders has risen, the council is keeping a close eye to see if there will be a second wave of Covid-19 infections in export destinations, especially the US and Europe.
Thai exports dropped 3.86 per cent year on year in September to US$19.621 billion, while export in the first nine months of the year fell 7.33 per cent year on year to $172.996 billion.
The Stock Exchange of Thailand (SET) Index rose by 11.09 points, or 0.92 per cent, to 1,213.25 in the morning session on Tuesday.
An analyst at Krungsri Securities expected the day’s index to rise to between 1,210 and 1,215 before falling from rising oil price after Opec+ postponed its plan to increase its output.
“However, uncertainty over European countries’ second lockdown to contain the spread of Covid-19 would pressure the index,” he said.
He recommended that investors buy TU, STGT, STA, CBG, IVL, AP, COM7, SYNEX, ASIAN, HANA, SVI and TVO, whose third-quarter performances are expected to improve.
The SET Index closed at 1,202.16 on Monday, up 7.21 points or 0.60 per cent. The volume of total transactions was Bt40.73 billion with an index high of 1,202.55 and a low of 1,191.44.
The price of gold rose by Bt50 per baht weight in morning trade on Tuesday, the Thai Gold Traders Association reported.
As of 9.21am, the buying price of a gold bar was Bt27,800 per baht weight and selling price Bt27,900, while gold ornaments were priced at Bt27,303.16 and Bt28,400, respectively.
At close on Monday, the buying price of a gold bar was Bt27,750 per baht weight and selling price Bt27,850 while gold ornaments were Bt27,257.68 and Bt28,350, respectively.
Spot gold price moved to US$1,895 (Bt58,898) per ounce in the morning after the price rose by US$12.6 to $1,892.5 per ounce on Monday’s close due to mass buy-ups of safe-haven assets in response to uncertainty over the result of the US presidential election and the Covid-19 outbreak in Europe and US.
Hong Kong gold rose by HK$60 to $17,500 (Bt70,171) per tael this morning, the Chinese Gold and Silver Exchange Society reported.
PacRim offers new strategy for companies to achieve tangible results
Nov 02. 2020Innovation experts Manrat Praditwongsin, right, and Dr Sirinchayaa Preechapatsakool share their insights during the launch of PacRim Group’s result-based innovation solutions strategy to help Thai organisations achieve results.
By The Nation
Leading consultancy firm, PacRim Group, has launched its result-based innovation solutions (RIS) strategy, which effectively integrates systems such FranklinCovey’s customer-centric innovation and the “jobs to be done” approach from innovation-guru Clayton M Christensen.
Manrat Praditwongsin, senior consultant at PacRim Group, said the consultancy firm has provided leadership development and transformation solutions to more than 1,000 organisations in Thailand over the past 28 years. She said the new result-based innovation solutions scheme was created to fulfil clients’ needs when it comes to achieving sustainable business results, since innovation has become an integral part of today’s businesses.
“Today, innovations are no longer just about inventors or creating something new. Christensen has said that a successful innovation comes from a ‘jobs to be done’ approach, meaning if you really know how to get your customers’ jobs done, you will really be the winner,” Manrat said.
PacRim’s RIS solutions are available both in standard and customised formats as required by each client, while “results” can be measured on a rate on investment basis.
Dr Sirinchayaa Preechapatsakool, consultant and innovation specialist at PacRim Group, said RIS would help create an organisation culture that directly leads to four business results, namely,
• Creating a pipeline of new products and services through a process that helps find customers’ “current explicit needs” and “future implicit needs”.
• Acquisition and retention of customers.
• Building agile teams.
• Developing new business models.
Theanchai Yaktavong, internal instructor at SCG’s Centre of Expertise, said the company has used PacRim’s jobs to be done approach as an important tool, while advocating the development of leadership and technical skills of its manpower.
Dr Sarawut Limchaikul, human resource chief at Gosoft (Thailand), which is the IT backbone of the 7-Eleven network, said Gosoft has focused on developing an innovative culture and the four attributes of its staff stepping out of the IT box and moving toward a customer-centric approach that delivers a good experience.
Rawiwan Kumthongmak, vice president of learning and development at the SCB Academy, said Siam Commercial Bank has joined forces with PacRim and other partners from public, private, and educational institutions to launch the PMD47 project.
The project provides people a chance to boost their skills for free via SCB’s “phonlamuangdee” and PacD digital platforms. The courses to be offered shortly on the platform include customer centric innovation and other world-class programmes that are fun and easy to learn, and applicable to real-world usage.
WHA launches largest solar carpark at Eastern Seaboard Estate
Nov 02. 2020
By The Nation
WHA Utilities and Power Plc has officially opened a solar carpark at SAIC Motor-CP Company’s MG Manufacturing Plant in WHA Eastern Seaboard Industrial Estate 2.
It covers 31,000 square metres of solar rooftop space.
Commercial operations started in early October with a capacity of 4.88 megawatts, making it Thailand’s largest solar carpark project to date.
Niphon Bundechanan, chief executive officer of WHA Utilities and Power Plc, said that the project is considered the largest solar carpark in Thailand, with 20 years of service duration, starting early October.
Zhang Haibo, president of SAIC Motor-CP Co Ltd and MG Sales (Thailand) Co Ltd, as a manufacturer and distributor of MG cars in Thailand, explained: “We decided to install solar to offset CO2 emissions to reduce global warming. With the help of WHA Utilities and Power, we will be able to reduce our costs more than the 20-year period, while protecting the environment.”
Niphon is confident that the company will achieve its target of securing solar rooftop installation contracts with a combined capacity of 50MW this year. This will make the company’s energy-generating capacity, in terms of shareholding equity, reach 592MW by the end of this year.
THAI to provide special flights to and from seven destinations
Nov 02. 2020
By The Nation
Thai Airways International (THAI) is operating semi-commercial flights to and from seven destinations, namely London, Frankfurt, Copenhagen, Hong Kong, Tokyo, Taipei and Sydney, from now until the end of December to meet passenger demands.
Wiwat Piyawiroj, the airline’s executive vice president, said the special round-trip flights have been organised to accommodate passengers with travel, education and business requirements.
Flight details are as follows:
• Bangkok-London-Bangkok every Sunday
• Bangkok-Frankfurt-Bangkok every Friday
• Bangkok-Copenhagen-Bangkok every Sunday.
• Bangkok-Hong Kong-Bangkok flight on November 4 and 18, as well as every Wednesday in December.
• Bangkok-Tokyo every Wednesday and Saturday and return flights on Thursdays and Sundays.
• Bangkok-Taipei-Bangkok every Friday, plus special flights on November 4 and 18, as well as on December 4, 11, 18 and 23.
• Bangkok-Sydney flight every Sunday and Sydney-Bangkok on Mondays. Travellers are required to contact the Australian Embassy in Bangkok before reserving a flight to Sydney.
THAI has been cooperating with the Foreign Minister to operate special flights to bring Thais home as well as deliver cargo on roundtrip flights.
B Grimm powers its way to three more international awards
Nov 02. 2020
By THE NATION
B Grimm Power Plc has won three more international excellence awards this year, the company said.
The company was named the “Power Utility of the Year-Thailand”, “Power Plant Upgrade of the Year-Thailand” and “Hydro Power Project of the Year-Bronze” at the 16th Asian Power Awards hosted by Asian Power magazine.
Harald Link, B Grimm chairman, together with chief executive officer Preeyanart Soontornwata said these latest awards underscore the company’s position as a regional power business leader, its professionalism and the commitment to conduct its business with responsibility to the economy, society and environment based on the principles of good corporate governance.
The Power Utility of the Year-Thailand recognises B Grimm’s role as an organisation which contributes significant developments in both industrial power and renewable power in the region.
The Power Plant Upgrade of the Year-Thailand specifically accredits the Amata B Grimm Power 3, which runs one of several co-generation power plants under the partnership between B Grimm and Siemens.
Amata B Grimm Power 3 has succeeded in improving the efficiency of its gas turbines to reduce gas consumption and the period required for the plant maintenance.
The Hydro Power Project of the Year-Bronze went to B Grimm’s 15-megawatt Nam Jae 1 hydroelectric power house in Laos, which went on stream commercially in June 2019.
The Asian Power Awards are considered by a group of international electrical industry experts to honour entrepreneurs in the power business and power plant projects across Asia with outstanding performance.
Energy Minister Supattanapong Punmeechaow highlighted the national blueprint to generate electricity from waste as the Cabinet toured Phuket on Tuesday.
Phuket is at the forefront of the ministry’s renewable-energy plan to purchase up to 400 megawatts of waste-generated power per year from 2022.
The holiday island has two waste incinerator plants – a 2.5MW municipal facility and a 12MW plant built by PJT Technology. The municipal plant is currently offline while approval is sought for the private sector to join its management.
Under the Power Development Plan, the Energy Ministry will issue feed-in tariffs for waste-generated electricity next year, and purchase up to 400MW in 2022, said Supattanapong.
“The move will help strengthen Thailand’s energy security and protect the environment, especially in tourist areas with waste-management and environmental issues,” he added.
The island’s waste-disposal centre has seen a 13.5 per cent drop in solid waste this year after international tourism was suspended at the end of March.
EconNov 03. 2020GSB’s new micro-finance service will help individuals and vendors escape the jaws of loan sharks, said the bank’s president Vitai Ratanakorn.
By The Nation
The Government Savings Bank (GSB) plans to launch a microfinance service on its mobile banking app early next year, said president Vitai Ratanakorn.
The service is designed to help individuals and small businesses gain easy access to loans and would help solve the loan-sharking problem, he added.
GSB’s mobile banking app MYMO currently has 8 million subscribers.
The new service will link up with the bank’s customer database to make lending decisions.
Offered will be micro-loans of Bt10,000 to Bt20,000 per customer per year, rising to Bt50,000 in the future. The interest rate will be lower than offered by loan sharks.
Vitai said that the micro-loan packages will be designed to fit the needs of customers, including individuals and market vendors. As well as long-term contracts, a daily interest rate will be offered to those who want to borrow today and repay tomorrow.
Ministry wants Bt1.5bn to create jobs in crisis-hit tourism provinces
EconNov 03. 2020Labour Minister Suchart Chomklin will ask Tuesday’s Cabinet meeting to approve a budget of Bt1.5 billion to hire 18,000 labourers in six Andaman provinces.
By The Nation
Tuesday’s Cabinet meeting will be asked to approve a Bt1.5-billion budget to hire 18,000 labourers in six Andaman provinces, said Labour Minister Suchart Chomklin.
The move is aimed at mitigating the severe impact of Covid-19 on the region’s tourism sector.
The Labour and Interior ministries will operate jointly to recruit the labourers to work on public projects. The funding will come from the existing Bt400-billion economic revival budget.
Of the 18,000 jobs, 8,000 will be created in Phuket, with 2,000 in each of the five other Andaman provinces. Workers will be hired for 10 months on a daily wage of Bt330-340.
Suchart has also instructed the ministry to consider extending the cut in social insurance contributions by employees and employers. The rate cut from 5 per cent to 2 per cent is due to expire at the end of this month.
Innovation experts Manrat Praditwongsin, right, and Dr Sirinchayaa Preechapatsakool share their insights during the launch of PacRim Group’s result-based innovation solutions strategy to help Thai organisations achieve results. 
GSB’s new micro-finance service will help individuals and vendors escape the jaws of loan sharks, said the bank’s president Vitai Ratanakorn. 
Labour Minister Suchart Chomklin will ask Tuesday’s Cabinet meeting to approve a budget of Bt1.5 billion to hire 18,000 labourers in six Andaman provinces. 
