Siam Piwat launches flood relief campaign “Siam Ruam Jai Thais Help Thais”
SATURDAY, OCTOBER 08, 2022
THE NATION
Siam Piwat Group, a leading property and retail developer – the owner and operator of Siam Paragon, Siam Center, Siam Discovery and a joint-venture partner of ICONSIAM and Siam Premium Outlets Bangkok has teamed up with business partners, tenants and renowned brands together with staff under Siam Piwat Group, customers and the public to organize “Siam Ruam Jai Thais Helps Thais” flood relief campaign to provide aids to those affected by the unprecedented flood in many areas across Thailand.
Siam Piwat has been one of the pioneering private organizations that has continuously host disaster relief campaigns.
Join Siam Piwat today and be a part to support those in needs through donations at “Siam Ruam Jai Thais Help Thais” campaign, from 5-25 October 2022 at Parc Paragon, M Floor, Siam Paragon, 10.00-19.00 hrs.
Supplies donation is open to the public. Relief items needed are, for example, drinking water, packed or canned food, instant noodles, rice, snacks, toilet paper, medicine etc.
Siam Piwat will pack and pass the relief bags containing the donated supplies to non-profit organizations to help people in flood-affected areas, with our heartfelt care and support to those in needs. Supporting the campaign are Bio-Vera Lab Co., Ltd., Blue & White Logistics Co., Ltd., The British Dispensary (L.P.) Co., Ltd., Charoen Pokphand Foods PCL., C.P. Intertrade Co., Ltd., CPRAM Co.,Ltd., Dhipaya Insurance Public Company Limited, European Food Public Co.,Ltd., Freshair Festival Co. Ltd., Green Spot Co.,Ltd., Hanfa Co., Ltd., Lactasoy Co., Ltd., Inter Pharma PCL, Lison Vision Co.,Ltd., Muang Thai Life Assurance PCL., N. Ad Co., Ltd., Nestle (Thai) Co., Ltd., NEO CORPORATE CO.,LTD. , Nguan Chiang Food Industry Co., Ltd., Phiboonchai Maepranom Thai Chili Paste Co.,Ltd., Plan B Media PCL, Siam Health Group, Smooth E Co., Ltd., T.A.C. Consumer PCL, Tana Group International Co., Ltd., Thai Nakorn Patana Co., Ltd, Thai President Foods PLC, Thai Roong Ruang Industry Co., Ltd., Thanakorn Vegetable Oil Products Co., Ltd., Tia Ngee Hiang (Chaosua) Co.,Ltd., Step Solutions Co., Ltd. and Worth Innovation Co., Ltd.
In addition, the public can also contribute to flood relief through money donation box “The Thai Red Cross Society for Flood Relief” at Parc Paragon, Siam Paragon. The Thai Red Cross Society now invites the public to support the flood-affected areas across the country.
For more information, please call 0 2610 8000 or visit Facebook or application: ONESIAM
“InnovestX Securities” unveils new strategies for laying groundwork and driving the future of finance, investment, and digital assets
SATURDAY, OCTOBER 08, 2022
THE NATION
The company is introducing “InnovestX” the Super App that traverses the investment universe, creating a new ecosystem to accommodate the transforming contexts. InnovestX is determined to make it easier for everyone to enter the broader and all comprehensive investment and financial markets.
• Striving to become ASEAN’s leading provider of comprehensive digital asset investment and services. • Taking giant steps forward and getting ready for an IPO in three years.
To enter the digital asset business on a grand scale, “InnovestX Securities Co., Ltd.”, formerly known as SCB Securities Company Limited (SCBS), is revealing its new strategies under the concept of “Future of Finance Reimagined.” The company will focus on the future of the financial and investment industry’s ecosystem. The company is launching Thailand’s first super app called “InnovestX,” which pools together both domestic and international equities, mutual funds, bonds, and digital assets. InnovestX intends to work with the SCBX group of companies to provide essential investment financial infrastructure and a comprehensive suite of digital asset services, thereby laying a platform for future growth and increasing competitiveness. It plans to go public with a goal of four to five million customers within three years and a spot in the top five in the ASEAN region investment and digital asset business.
InnovestX Securities Co., Ltd. Chief Executive Officer Dr. Arak Sutivong, said, “Technology plays a significant role in reshaping the landscape and influencing the future of the financial sector, particularly blockchain technology, which is the broadly used and underlies digital asset technology. As a result, the financial world has expanded rapidly, creating new prospects in financial business and investment opportunities for everyone. Under the concept of “Future of Finance Reimagined,” InnovestX Securities has launched a major corporate strategy shift to both expand their traditional investment services and be ready to enter the digital asset market. The strategy will focus on the development of infrastructure and the future of the financial and investment ecosystem in order to make investments and digital assets accessible to everyone through a universe of equal investment opportunities enabled by technologies and innovations. InnovestX’s ultimate goal is to dominate the ASEAN investment and integrated digital asset segment.”
“Today, we have combined the power of technology with business savvy and investor knowledge to create a new platform called InnovestX App, Thailand’s first super app that unites all assets in a single app, including Thai stocks, international stocks, mutual funds, bonds, and digital assets. The application was designed based on the knowledge of the diverse demands of clients, whether rookie investors or experienced investors. We anticipate the InnovestX App expanding the number of investment options from across the world available to everyone, bringing them on par with those in industrialized nations. Ultimately, this will generate sustainable financial growth over the long term.”
“In response to the new context of the future financial and investment world, we are getting ready to establish the financial and investment infrastructure and ecosystem of the future based on blockchain technology and digital assets, leveraging blockchain technology and digital assets to adapt to the shifting landscape of the global context. Through rigorous study and the pursuit of new opportunities, we will join forces with SCBX Group companies such as Token X and SCB 10X to expedite the development of comprehensive digital asset services for Thai people to help them reap the most benefit.”
Dr. Arak concluded InnovestX’s business goals by saying that “Within three years, we anticipate the rise in number of users to reach four to five million and becoming one of the top five investment and digital asset businesses in ASEAN, while simultaneously preparing for the company’s listing and IPO”
InnovestX is the only securities company in Thailand that has both securities and digital asset brokerage licenses. The company is determined to take the industry to the next level by providing secure, transparent investment financial services and by collaborating with regulators to ensure that all customers receive the highest quality service.
The InnovestX Application is Thailand’s first “Super App” for investing, as it brings all asset classes in one app and strives to “understand investment demands” from every angle.
• Help rookie investors understand that starting to invest is not easy
The “Intelligent Portfolios” service is a Digital RM with automated intelligence technology to help manage investment portfolios. Investors can choose to personalize their investment in various styles, such as Guru portfolio, Goal-based portfolio, or Thematic portfolios. Investors do not need to have a million baht but can still gain access to a personal investment assistant.
• Understand the challenge of gaining access to any investment
Customers can invest in all assets, including Thai stocks, international stocks, mutual funds, bonds, and digital assets, by opening a single account. It features a convenient and bank-grade onboarding process.
• Understanding that assets must be diversified to generate superior results.
We enable users to invest in all assets through an all-in-one trading platform and single-view portfolio.
• Understand that opportunities exist across all asset classes.
For the first time, customers can invest in digital and other assets within a single app, with selected coins of exceptional quality. Connecting to key partner exchanges such as FTX, Coinbase, and Bitkub gives it the most liquidity.
InnovestX’s launching “Zero Gravity” campaign frees investors from costs, allowing them to freely explore the investment universe beyond limits.
ZERO Baht account opening fee! No minimum required.
ZERO Baht Intelligent Portfolios service fee!
ZERO Baht Brokerage fee for international stock investments totaling 100,000 baht and Zero Baht application fee for W8-BEN tax filing service
ZERO Baht Digital Asset Brokerage fee
InnovestX is a universal investment app that allows users to invest in all assets, anywhere. This offer is valid until December 31, 2022. Users will be able to download the app from October 8, 2022 onwards.
For further details, please visit www.InnovestX.co.th or InnovestX Facebook Page.
NACC asked to probe NBTC secretary-general after complaints of misleading reports on True-Dtac deal
FRIDAY, OCTOBER 07, 2022
THE NATION
Today (October 7, 2022) at 10.30pm, Mr Pornchai Wetwiboon travelled to submit a letter to the Office of the National Anti-Corruption Commission (NACC) to demand urgent investigation of the conduct of Mr Trairat Wiriyasirikul, acting Secretary-General of National Broadcasting and Telecommunications Commission (NBCT), concurrently Deputy Secretary-General, on the grounds of the improper discharge of duties in submitting documents to meetings and giving testimony, or the distortion of facts and legal principles, and making announcements to media giving rise to misunderstanding in a way to favor the interests involved in the merger proceeding successfully, with no regard for legal procedure.
Mr Pornchai said that it was well known that NBTC must consider its founding laws and other pertinent laws. These require mandatory compliance under the Constitution and the Act establishing NBTC as an independent organization with the obligation to regulate and oversee telecommunications businesses independently. No other party may be allowed to interfere with the duties of NBTC, or this might be considered improper conduct, including the actions of the acting NBTC Secretary-General in particular.
Distorting data about the merger before submission to NBTC board
In studies by different subcommittees and the Thailand Development Research Institute (TDRI) it was clearly apparent that if the merger was allowed to proceed it would cause a permanent monopoly and impact increased prices which consumers would have to pay. It is an effective barrier preventing new entrants in the market. NBTC does indeed possess the legal authority to consider approval or disapproval, but the acting Secretary-General preferred to distort the facts and submit the matter to NBTC board saying that NBTC only had the authority to acknowledge a report and then determine specific measures of control after the merger, but NBTC did not have the authority to forbid the merger. This is in conflict with the opinion of the NBTC’s self-established legal subcommittee of legal scholars, consumer councils and university law professors. In particular there was distortion from the fact that NBTC had previously given testimony to the Administrative Court in Case Black No. 775/2565 that NBTC had the authority to approve or not approve.
Cherry picking the study of an (in)dependent advisor despite full knowledge that the information was incomplete
There were irregularities in the conduct of the acting NBTC secretary general on the issue of appointing Finansa Securities Co. Ltd. as an independent advisor, all the while that a senior True executive was a shareholder in a company connected therewith both indirectly and directly. Also, Extraordinary Committees of the House of Representatives considering the True/Dtac merger and retail/wholesale have previously made protests concerning the qualifications of an independent advisor who may not in fact be completely independent. This may also be in contravention of the criteria for selecting independent Commissioners on the NBTC board as has been stipulated. By virtue of receiving a complaint it has been negligent, and it has not carried out any enquiry. It has instead confirmed the opinion of the original independent advisor. The Office of NBTC has never explained to NBTC whether there was a real issue here. If NBTC has already considered, and subsequent problems arise with the qualifications of the advisor, it would make the resolution unlawful.
Also, the report prepared by the independent advisor did not contain all the information required. Despite being requested to make amendments and additions, the advisor refused to make them. Subsequently the office preparing the data in this matter had an issue that may have the result of making the NBTC’s deliberations improper. Also, the acting Secretary-General was negligent in not raising any objections, but rather helping the process, even though it was not his duty. And this was actions furthering the interests of other parties improperly.
Rumours rife about Council of State deceiving the public; speculation in mergees’ listed stock rampant
Subsequently on September 20, 2022, it was disclosed to media (Manager Online) from the acting Secretary-General that the Office of the Council of State had interpreted NBTC’s authority to consider the merger, that it did not have the authority to approve the merger, and that it only had the authority to stipulate conditions or specific measures. However, in actual fact, the Office of the Council of State had had exactly the opposite opinion, that NBTC did have the relevant legal authority to approve a merger of businesses in the same category. This gave the general public the wrong impression, and confused consumers nationwide about the powers and responsibilities of NBTC, as well as citizens concerned that NBTC is properly executing its duties.
Despite subsequent denials from the acting Secretary-General that he had released this news, the first result of its publication was to stimulate greatly increased trading volumes of True and Dtac stocks, with subsequent falls later on as the denial was released. It is rather suspicious that if the acting Secretary-General was not the news source as claimed, he would be denying it rather more vehemently rather than waiting for a while. Vested interests also did not rush to correct media presenting distorted information which could be damaging or misunderstood. This is not the first time that the acting Secretary-General has been a source of news that turned out to be unfactual. There were previous reports that the Office of NBTC had made a complete review of the information and was about to report to a meeting of NBTC on September 14, 2022. It subsequently appeared that this matter was not on the agenda on that day, coinciding with a suspiciously sharp increase in the price of True and Dtac stock simultaneously.
Mr Pornchai concluded by saying that from the facts and evidence which were clearly apparent, it was obvious the conduct of Mr Trairat Wiriyasirikul, acting Secretary-General of NBTC, as a state official, came under the scope of improper negligence pursuant to Section 157 of the Criminal Code with a potential punishment of 1-10 years in prison or a fine of 2,000 to 20,000 THB, or both. Finally, with behavior tending to unusual wealth, the National Anti-Corruption Commission has now been requested to investigate officials’ conduct, as well as to verify assets and increases in value thereof, in detail.
Boncafe (Thailand) achieves 2nd CSR-DIW Continuous Awards 2022 from the Ministry of Industry
FRIDAY, OCTOBER 07, 2022
THE NATION
August 24, 2022 – Boncafe (Thailand) CEO Khun Usapun Inteevoravong along with Boncafe factory’s representatives attended the annual Corporate Social Responsibility, Department of Industrial Works awarding event or the CSR-DIW Continuous Awards 2022 held by the Department of Industrial Works in which Boncafe is proud to be awarded respectively for the 2nd year.
This auspicious awarding event presents the determination to maintain its business standards with the emphasis of realizing and supporting the continuous corporate social responsibility of the industry’s entrepreneurs towards the society, community, and the environment to conform under the CSR-DIW standards.
The Department of Industrial Works has also been consecutively developing the project and policy of the CSR-DIW by promoting the cooperations between industrial entrepreneurs and community to maintain sustainable social symbiosis while driving the improvements within the local areas along with harmony. Boncafe highlights the zero waste policy to reduce waste, such as taking parts in organic farming projects to improve the sustainability within the community by recycling deposed coffee grounds to its fullest benefits, demonstrating how to make bio-fermented water, soil conditioner for local farmers, and providing garbage sorting for friends of Boncafe to segregate and store the waste and increase the values of recycled waste from the employee’s consumption. This project has gained good participation from the employees resulting in good internal waste management which benefits the community’s environment.
This highlights the confidence that each and every cog within Boncafe (Thailand) will maintain its standard practice and improve the corporate social responsibility towards the community and society to form a sustainable and happy relationship between us and every sector within the society.
CP Group is involved in promoting Thailand’s soft power by supporting the Chef Care Foundation; launching the Thai Art Initiative project.
THURSDAY, OCTOBER 06, 2022
THE NATION
Renowned chef “Jay Fai – Supinya” is representing Thai culture and cuisine, while simultaneously collaborating with Thai contemporary art work from “Prae-Kavita”. These talented national treasures are helping to promote Thailand as the center for contemporary art in Asia initiated by “Marisa Chearavanont”, the first Thai recipient of RINASCIMENTO+ award as an art advocate and enthusiast.
Ms. Marisa Chearavanont, Chairman of Chef Care Foundation (CHEF CARES) and advisor to the Charoen Pokphand Group, is the founder of the Thai Art Initiative. Her hard work and dedication has helped to reveal the Chef Cares Foundation. It is supported by Charoen Pokphand Group, and has become a determining factor to push and promote Thailand soft power. The primary focus’ are art and cuisine, helping to maximize economic benefits and connect Thai culture to the world. Chef Cares Foundation set up the Thai Art Initiative (ThAI) project with the hope of making Thailand the Asian hub for contemporary art. The project recently took part in the exhibition and collaboration of two female Thai artists; Jay Fai – Supinya Chansuta or Jay Fai, a famous street food chef from Chef Cares, and Kavita Wattanachayangkun, a new generation female artist. The two completed their collaboration by representing Thai culture the at Novecento Museum, Florence, Italy. Mr. Tharit Charungwat, Secretary General of the Thai Foundation, and Mr. Siripakorn Chiawsamut, Deputy Governor for Marketing Europe, Africa, the Americas, and the Middle East, Tourism Authority of Thailand attended this event and have received positive feedback and appreciation from artists, art collectors, and attendees alike.
RIMASCIMENTO+ 2022 award was awarded to Marisa from the Novecento Museum, a coveted honor given annually to art collectors and contributors around the world. This award focuses on the growth of contemporary art and the bringing it to the forefront of the international art market. Marisa is the first individual from not only Thailand but the whole of Asia to receive this award. She is active in promoting the contemporary art industry domestically as well as internationally. Serving on the committee that chooses contemporary artists from the Asia Pacific region for exhibitions at the New Museum in New York and the Tate Modern in London, she is also a co-founder of the recently launched M+ Museum in Hong Kong.
As the founder of the Thai Art Initiative (ThAI), Ms. Marisa said that the contemporary art community has profited from this award and shows that Thailand is seen favorably by those working in the art industry. It is a great sign which will help Thai contemporary artists and the Thai art industry create further momentum on the global stage. Collectors who support the Thai art scene and also provide the artists with the motivation to produce their works are a key ingredient in moving this niche forward.
Marisa has been dedicated to ensuring that the Thai Art Initiative (ThAI) is established with the aim of putting Thailand on the geopolitical map of contemporary art in Asia. Thailand has numerous unique cultural customs that set it apart from other nations. While its tourism industry is among the best in the world, it is important that other aspects help to promote and develop additional components aiding in Thailand’s soft power initiative. ThAI recognizes this distinction and effort to uphold Thai cultural traditions and strengthen its national image by enhancing Thai soft power on the international scene by emphasizing the presentation of Thailand’s regional identity, including Thai cuisine and contemporary art.
“Thai cuisine and contemporary art will be a significant economic driver. Asia’s culinary epicenter is Thailand. Our Thai chefs are like artists. We take great delight in how unique Thai cuisine is in each area and this has gained acceptance and recognition on a global scale.
Marisa is satisfied in achieving the coveted award at the Museo Novecento Art Week in Florence, Italy. It is the first goal of the Thai Art Initiative (ThAI) which featured two of the most inspiring Thai women. First, street food queen Jay Fai – Supinya Chansuta, age 74, offers everyone the famous crab meat omelet menu. Jay Fai has dedicated half of her life to crafting exquisite food as art. Jay Fai’s performance with Kavita Wattanachayangkun, a human rights artist. An art exhibition titled “Body, Labor, Consumption” was presented through selected videos from the series of “Performing Textiles” and “Field Work” which featured the fashion industry and female labor. The artistic collaboration of two Thai female artists and the upcoming artworks from the Thai Art Initiative will express the aesthetic and cultural spirit of Thailand.
Supinya Chansuta AKA Jay Fai expressed her gratitude for the chance to attend this event. She stated that every time she cooks in a foreign country, she gives her all to show that properly prepared Thai food can become well-known and more widely consumed because Thai cuisine is enticing and distinct. She hopes that this occasion could attract more foreigners to try the taste of Thai cuisine.
Lawyer submits petition to Norwegian Embassy protesting planned Dtac-True merger
THURSDAY, OCTOBER 06, 2022
THE NATION
The True-Dtac deal has escalated to the national level. Lawyers have taken a letter to the Norwegian Embassy to send a message to the Norwegian government to pressure Telenor, Dtac’s parent, to issue an order to cancel the deal and investigate the operations of its Thai subsidiary to ensure it is not in conflict with the law and business ethics, and is transparent and grounded in the protection of service users’ rights.
It would be a confirmation of Norway’s dignity as a country in top global rankings for good corporate governance. The company is warned not to slip up on matters in violation of constitutional law.
Today (October 6, 2022), at 10.30am, Mr Somboon Bunyapirom, a lawyer, submitted a letter stating 3 earnestly requested concerns on the merger between True Corporation PCL (TRUE) and Total Access Communications PCL (DTAC) to the Norwegian embassy in Thailand to pass on and request Telenor to cancel the merger deal between TRUE and DTAC. The Norwegian government was also requested to consider whether the merger proposal of the two companies was in line with the Guiding Principles of the United Nations concerning business and human rights.
Mr Somboon said that this undertaking was unlawful, because it has failed to cover some steps of legal procedure. Distorted documents have been pertinent to the considerations, as well as interference in the deliberations of Independent Organisations under the Constitution (NBTC), and illegitimate acts such as:
1. The merger proposal of the two companies is in violation of the Telecommunications Business Act Section 21, in which is it stated that, “In the telecommunications business operation, other than being subject to the law on trade competition, the Commission shall prescribe specific measure according to the characteristics of the telecommunications business operation to prevent the licensee from carrying out any act that is monopolistic, or that reduces or limits the competition in the provision of telecommunications service in the following matters:
(1) subsidisation of services; (2) holding in businesses of the same category of service; (3) abuse of market power; (4) anti-competition behavior; (5) protection of small entrepreneurs.”
2. The merger between True Corporation PCL (TRUE) and Total Access Communications PCL (DTAC) will reduce the number of players in the telecom market, and will leave only two main providers. This will affect consumers, both in terms of developing service quality and setting prices. It will be an effective barrier to development and competition in the digital economy. This is an issue which Thailand and many other countries gave high priority in the modern world. At present, DTAC has a market share of 20% with 19.6 million subscribers, while TRUE has 34% or 32.2 million subscribers, and AIS has 46% or 44.1 million subscribers. It can be seen that the merger will result in only two major service providers remaining, because the merger will yield a combined market share of over half, and able to prescribe market prices and service quality. NBTC’s rushed conclusion on specific measures after the merger to control the merging companies is somewhat flaccid and careless, all the while that reports from the NBTC’s subcommittees agreed that the merger should not be approved.
3. He had additional concerns in the matter of freedom of communication for the general public, which must not be interfered with by private companies or the state. If the number of telecom service providers is reduced this can easily lead to interference, threats, limitations and lack of access to news or data. Most particularly in the present situation, spyware technology has been used to access data in the communications of activists and dissidents without permission. Private companies have a responsibility to protect human rights according to the United Nations Guiding Principles on Business and Human Rights (UNGPs), and its second pillar which emphasises that every business organization, large or small, or of any type, must be responsible for and show respect for human rights.
Mr Somboon reiterated that these three concerns are a matter of extreme urgency because it is expected that there will be a deciding resolution at a meeting of the NBTC’s board on October 12, 2022. Thus he would be extremely grateful to consider the Norwegian Embassy communicating with Telenor to give advice or suggestions to investigate the operations of its subsidiary in Thailand, so that they are not in violation of the law or business ethics, and are transparent, grounded in the protection of service users’ rights.
The new system aims to combine online and offline measurements under one rating system
Bangkok, October 6, 2022 – The Association of Digital Television Broadcasting (ADTEB), in collaboration with Nielsen Thailand, unveiled the first detail of rating data under the new cross-platform rating system that both parties had previously debuted in August this year.
The adaptation of cross-platform ratings has made Thailand the first country in ASEAN to implement the system that responds to the change in technology and consumer behaviours with an aim to raise the standard of the broadcasting industry to an international level.
In a press conference on Thursday, ADTEB revealed that the rating data will be delivered to the public every month in phases under the steps to fully implement the cross-platform rating system across all media and all platforms in Thailand by the first quarter of 2023.
Currently, the census data from audiences of traditional and digital TV on television sets and digital devices (computers, tablets, smartphones) covering live and streaming programmes have already been delivered. In the last quarter of this year, the data delivered will cover viewing of rerun programmes as well, said ADTEB. The association hopes to add cross-platform data on total audience, sample groups and census by February of 2023.
ADTEB president Suparb Kleekajai, said “From the first set of data being delivered in August and September, we are excited that most Thais are still watching TV as a major outlet while streaming media are also influencing Thai people’s behaviour in media consumption.
“The association hopes that the new cross-platform rating system will help establish a better understanding of media consumption trend by combining both online and offline media under one standard rating system, as well as help policymakers in setting suitable strategy for their platform,” he added.
ITD Regional Forum vows to open floor for trade and business cooperation on strengthening Asia-Pacific networks
THURSDAY, OCTOBER 06, 2022
Aiming to engage new business ecosystem amidst world’s uncertainty
Thailand is going to host ITD Regional Forum 2022: “Futuristic Asia Pacific” in October 12, which is the country’s significant international forum to connect and strengthen trade and investment models with innovative solutions among the members of Asia-Pacific region, responding to uncertain global economic context that is under threats of many negative factors, including war-zone conflicts, climate change and a possible wave of new pandemic.
The COVID-19 pandemic has become the world’s transformation to the virtualization technology for saving the global trade and investment disruption from the pandemic, sending strong impact on all people living on the earth. Unfortunately, it has caused a big gap between those who could perfectly access and do not.
Despite this uncertain circumstance, new opportunities can also arise by making good use of the challenges. Businesses have to be transformed in having new business model, product, service or ethic or all to cope with the challenges.
In a response to the world’s challenges on trade and investment, International Institute for Trade and Investment (ITD) is pleased to organize the regional forum “Futuristic Asia-Pacific” in Bangkok, participated by both local and international prominent speakers who have strong experience and expertise in their own field and been ready to decode the success and give suggestion on how to put the business growth in the sustainable way.
The highlight of event is involved with an exploration the future of the Asia-Pacific region by focusing on proactive movements of businesses, which are key innovators and influential players in an economy, toward shaping the new frontier of the region. The forum will touch upon businesses in key dynamic sectors regarding their current challenges, current circumstances, and probable solutions for overcoming the limits and reaping new opportunities.
The key dynamic sectors has included financial sector, technology sector, clean energy sector, tourism sector, agricultural sector, and logistics sector.
“The Asia-Pacific region is no doubt the factory of the world, the hub of supply chains, and major incubation areas for new innovations. In terms of international trade, the Asia-Pacific region has many (but also overlapping) free trade agreements. Populations of the Asia-Pacific region accounts for 60% of the world population and includes very large economies like India and China,” according to ITD.
It further said that the region also has strong diversity in both cultures and beliefs. Regarding these influential roles of the Asia-Pacific region to global economy, if the Asia-Pacific is affected by the macro challenges, its impact will be profound in large scale. At the same time, any initiative/proactive actions led by the Asia-Pacific players will potentially lead the world to the new horizon.
The forum will be presided over by Sansern Samalapa, deputy minister to the Ministry of Commerce in the morning session, followed by Dr Kobsak Pootrakool, director and senior executive vice president of Bangkok Bank Public Company who will deliver his keynote speech of “Welcome to the Future” to learn more about world economy in the future.
After that, it is a stage of panel discussion of “Future of Regional MNC”, which both Thai and foreign panelists are welcomed to share and explore key business strategy of different multinational cooperation in the next 5-10 years in the midst of rapid changing world.
For the afternoon session, the highlight will be dominated by two topics of panel discussion, which is the “Future of Startup Business” and the “Future of Technology”. Panelists who are keen on startup business and innovative technology for the future are ready to tell their own story, perspective and challenges for doing business in the fast-changing world phenomenal.
Meanwhile, former prime minister Abhisit Vejjajiva will also delivery his keynote speech of “The Future is now”, interpreted through his points of view about trends of macroeconomics, new policies or new regulations to build up new business ecosystem in the region.
The forum is expected to be wrapped by a closing remark from Manu Sithiprasasana, executive director, International Institute for Trade and Development (ITD), under a topic of “Future of ITD”.
It is believed that the forum would produce successful outcomes to deliver concrete thought of the future of Asia-Pacific region and relevant policy recommendations specifically in the areas of international trade and investment.
In addition, through sharing knowledge, visions and experiences of experts and business executives, this regional forum will also inspire individuals to see opportunities out of the chaos and look forward to the new positive momentum of Asia-Pacific region which can trigger the whole global system.
Customer experience key factor in determining subscriber growth for telecom providers, study finds
FRIDAY, OCTOBER 07, 2022
Nongluck Ajanapanya
Customer centricity will be the key to driving long-term growth for telecommunications (telecoms) providers, a recent survey found.
The joint study was conducted by Infobip, a leading omnichannel communications platform provider, and Kantar about what telecom subscribers want.
The objective is to understand what telecom subscribers want and, in turn, what telecoms around the world can do to improve their customer experience.
More than 3,000 telecom subscribers aged 18 to 69 in 15 countries worldwide participated in the study.
The findings disclosed that 53 per cent of subscribers switch operators due to poor customer service. Therefore, telecoms face challenges in becoming more customer-centric and communicating with subscribers through multiple channels in a unified manner.
Meanwhile, the top reason that respondents cited for switching telecom operators is too long to resolve their issue (48 per cent), followed by the need to contact the provider multiple times regarding the same issue (45 per cent), long waiting time to contact customer support (36 per cent), and getting transferred between agents and repeating their issues (35 per cent).
Other less-mentioned but notable causes included limited communication options, no replies from the operator to messages, no status updates upon issue resolution, and no 24/7 customer support.
Lim Jiun Kei, head of Operator Partnership Region APAC at Infobip, stated in an online press release on Friday that customer experience has now arguably become the most important factor driving customer loyalty and revenue growth in the telecommunications industry.
He also pointed out that the reasons customers change providers indicate a strong need for a holistic customer experience solution, also known as a “omnichannel communication solution”.
This omnichannel can assist telecoms in understanding their subscribers’ data, orchestrating personalised customer journeys, automating support, assisting agents in resolving customer issues with the availability of conversation history, and facilitating seamless cross-channel and chatbot to agent transfer.
The survey found that Covid-19 has also changed the way 60 per cent of subscribers interact with their telecom operator, with the use of digital channels increasing by 16-21 per cent while in-person communication has decreased.
Hence, as more people use digital channels for communication, omnichannel customer experience has become something they have come to expect.
Lim Jiun Kei said that the same goes for Thailand. He cited DataReportal, an online reference library, which found that Thailand’s internet penetration had increased to 54.50 million users, or 77.8 per cent of the total population. At the same time, people are now spending an average of around nine hours on the internet each day, an increase of 4.2 per cent from the previous year.
“To deliver a differentiating customer experience and stand out from the competition, telecoms must become far more agile, prioritise delivering a superior experience, embrace new technologies, and proactively direct subscribers to digital self-service channels that provide a frictionless journey,” he suggested.
Customers are now more technologically savvy and willing to try out new innovative products and services from their telecom providers, he concluded. They anticipate receiving digital self-service via an omnichannel approach that will ultimately deliver best-in-class customer experience.
Argentina, Brazil, Canada, Colombia, France, Germany, India, Indonesia, Mexico, Philippines, Portugal, South Africa, Spain, the United Kingdom, and the United States were the 15 countries surveyed.
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