GULF receives environmental governance award 2022 (green star – white flag)

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GULF receives environmental governance award 2022 (green star – white flag)

GULF receives environmental governance award 2022 (green star – white flag)


Gulf Group (GULF), represented by Mr Smith Banomyong, Chief Operating Officer – Group Asset Management & Investment, has received environmental governance award for the GKP1 and GKP2 power plants from Dr Veeris Ammarapala, Governor, the Industrial Estate Authority of Thailand. The ceremony was held at the ballroom, Pullman King Power Hotel, Bangkok.

Gulf Group (GULF) has received environmental governance awards and certificates from Industrial Estate Authority of Thailand (IEAT) as a result of GKP1 and GKP2 power plants’ best-in-class environmental governance practices, reflecting excellent environmental management including green area management, drainage systems, water and sewage management, air quality management, employee safety and health, as well as promoting the local economy and improving quality of life of communities surrounding the power plants. This reiterates the company’s social responsibility in every aspect.

Mr Smith Banomyong, Chief Operating Officer – Group Asset Management & InvestmentMr Smith Banomyong, Chief Operating Officer – Group Asset Management & Investment

Since 2019, four power plants under Gulf Group, consisting of GVTP, GTS1, GTS 3, and GTS4, received environmental governance awards and certificates. This reaffirms the company’s commitment in efficient resource management to achieve best-in-class standards, while remaining socially and environmentally responsible in the area where the company operates.

Dr Veeris Ammarapala, Governor of the IEATDr Veeris Ammarapala, Governor of the IEAT

The environmental governance awards event is an initiative that aims to increase the community’s involvement in inspecting and supervising factories in industrial estates. The audit committee of the industrial estate is comprised of IEAT officials, community representatives, and local government agencies. Its purpose is to encourage factories in industrial estates to adopt environmental governance principles, and social responsibility in order to boost the confidence from all sectors as well as promote the sustainable growth of the industry and community.

GKP1-2 Environmental Governance AwardsGKP1-2 Environmental Governance Awards

Amex moving for bigger share of Thai luxury spending

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Amex moving for bigger share of Thai luxury spending

Amex moving for bigger share of Thai luxury spending


Nongluck Ajanapanya

American Express Thailand is offering premium cardholders more benefits and services and expanding the number of merchants who accept payment with Amex cards in Thailand, as the US company moves to take its share of post-pandemic luxury spending.

Prom Sirisant, Thailand country manager for American Express, told a media briefing on Wednesday that its data showed very promising spending trends in the premium and “super premium” segments of the Thai market.

Prom, who is also vice president of international services for American Express Thailand, said there was pent-up demand for “premium experiences”.

People are spending more money on hotels, restaurants, and other social activities after two years of lockdowns, he said.

“To reinforce our leadership position among these high-spending customers, we will update our platinum card benefits while keeping the annual fee unchanged. The total value of all benefits will exceed our annual fee [by] three times,” Prom said.

A platinum card costs 35,000 baht a year.

Prom SirisantProm Sirisant

Prom said the enhanced benefits for platinum cards were available now, and included credits for dining and travel.

Prom said that expanding the number of Thai merchants who accepted payment with Amex cards was a priority.

He said that, according to the company’s data, Thai Amex card users “spend 3.5 times more on average” than those who use other credit cards.

From 2017 to 2021, American Express increased the number of merchants who accept payment by its card outside the US by 128% – from 16 million to 36.5 million locations, Prom said.

Fujitsu chief in Thailand seeks inner transformation

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Fujitsu chief in Thailand seeks inner transformation

Fujitsu chief in Thailand seeks inner transformation


Jarupong Krisanaraj

Technology alone cannot make companies achieve digital transformation, Kanokkamon Laohaburanakit, managing director of Fujitsu (Thailand), said on Wednesday.

Internal transformation is also necessary to cope with technological disruption, drive a company towards sustainability, and gain trust among employees and consumers, Kanokkamon said.

The challenge in digital transformation is changing employees’ mindsets as they may feel uncertain about new things, she said.

“Fujitsu highlights that internal transformation is essential and very important. Every employee is important to drive the organisation towards sustainability,” Kanokkamon said.

The company uses the principle “Fujitra” (Fujitsu Transformation) to help it improve internally, she said, adding that the concept includes leadership and culture, is data-driven, and focused on digital transformation.

Employees around the world are allowed to work anywhere and go to their offices only when required, she said, adding that the principle boosts trust among employees and consumers.

The principle also enables Fujitsu to help customers cope with digital transformation and achieve their sustainable goals effectively, she said.

Kanokkamon LaohaburanakitKanokkamon Laohaburanakit

Fujitsu has 124,000 employees in over 100 countries. In Thailand, it employs 408 people.

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Centara Expands Customer Experience with New Thai Airways Partnership Ahead of Centara Grand Hotel Osaka Debut

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Centara Expands Customer Experience with New Thai Airways Partnership Ahead of Centara Grand Hotel Osaka Debut

Centara Expands Customer Experience with New Thai Airways Partnership Ahead of Centara Grand Hotel Osaka Debut


Centara Hotels & Resorts, announces a partnership with Thai Airways to offer  passengers exclusive benefits ahead of the grand opening of Centara Grand Hotel Osaka, Centara’s first-ever property in Japan in July 2023.

This partnership marks the latest addition to Centara’s expanding airline partnership network which includes Singapore Airlines, Qatar Airways, Thai Vietjet, Go First, Myanmar Airways International, and Vistara Airways.

“As we prepare for the highly anticipated launch of our debut property in Japan, we are thrilled to partner with Thai Airways to offer their network an array of exclusive benefits and to welcome travellers for the first time to this exciting new hotel, Centara Grand Hotel Osaka. Elegant, modern and conveniently located in the heart of downtown, our latest hotel is ideal for business travellers, families, couples, and solo explorers looking to discover breathtaking Osaka and enjoy Centara’s signature service and warm hospitality”, said Tom Thrussell, Vice President – Brand, Marketing & Digital of Centara Hotels & Resorts.

The new marketing partnership offers Thai Airways passengers an exclusive introductory rate of 25% off the lowest publicly available online rates at the brand-new Centara Grand Hotel Osaka with bookings made from now – 30th June 2023 for stays between 1st July – 20th December 2023.

Located in the vibrant shopping and entertainment district of Namba, Centara Osaka is a remarkable landmark soaring 33-storeys above downtown. Guests will discover an eclectic selection of world-class bars and restaurants, including a rooftop dining destination with spectacular views, an assortment of accommodation choices designed for sophisticated comfort, Japan’s first-ever SPA Cenvaree, and modern event and meeting spaces, including MICE facilities, a rooftop Sky Event space and Grand Ballroom, for any occasion.

“With the reopening of Japan to international tourism, Thai Airways is excited to partner with Centara to welcome our passengers back to Osaka and to experience the brand-new Centara Grand Hotel Osaka with exclusive privileges and introductory rates. Japan is a phenomenal destination, and we look forward to sharing its beauty with our customers once again with this new Centara partnership”, said Mr. Wit Kitchathorn, Director of Sales of Thai Airways.

Spectacular modern architecture at Centara Grand Hotel OsakaSpectacular modern architecture at Centara Grand Hotel Osaka

All passenger traveling with THAI to Osaka can enjoy this exclusive offers by simply fill out THAI’s ticket numbers in booking link that we promote in all online channel.

Currently, THAI operates 54 weekly flights to six destinations in Japan which are Tokyo (Narita/Haneda), Nagoya, Osaka, Fukuoka, and Sapporo. For more information, reservation and ticketing, please visit or call 0-2356-1111 for THAI Contact Center (24 hours a day)

 Under the Centara x Thai Airways promotion, guests will not only receive a special introductory offer of 25% off the best available room rate when logged in as a CentaraThe1 member. This is lower than any publicly available rate and exclusive to Thai Airways passengers. Other privileges also include complimentary room upgrades, early check-in, and late check-out which are all subject to availability, as well as a 25% discount on food at Embassy of Crab or Suan Bua restaurants. In addition, guests who order 2 or more set menus at either of these restaurants will receive one complimentary bottle of wine.

Travellers who are not yet members of Centara’s loyalty programme can sign up for free in less than a minute, and immediately start enjoying benefits and earning points. To take advantage of all CentaraThe1 membership privileges, sign-up or sign-in now at

To book or learn more about Centara x Thai Airways offer, please visit

Economic recovery causes tough recruitment & higher base salary, says Adecco’s Salary Guide 2023

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Economic recovery causes tough recruitment & higher base salary, says Adecco’s Salary Guide 2023

Economic recovery causes tough recruitment & higher base salary, says Adecco’s Salary Guide 2023


Adecco has revealed that, in 2022, the average salary of office workers rose from that of the previous year, which reflected the continuous recovery of the Thai labor market in line with improved economy. As for first jobbers, the IT field enjoyed the highest salary of 80,000 Baht while logistics and marketing jobs were in high demand.

The Adecco Group Thailand, a world-leading HR solutions agency, has revealed its Salary Guide 2023 which showcases the information of minimum and maximum salaries of over 800 positions in 8 industries. Such data have been gathered from the employments of Thailand’s leading companies through Adecco. It has been discovered that, in 2022-2023, the Thai labor market has started to bounce back and become much more lively compared to the last few years during the Covid-19 pandemic. Such phenomena result from the country’s economy which starts to recover as seen in Thailand’s GDP in the third quarter of 2022 which rose by 4.5% in comparison to that of the same period in 2021. Employments have increased in various industries, e.g., manufacturing, logistics, FMCG trading, and banking & finance (FinTech). 

Economic recovery causes tough recruitment & higher base salary, says Adecco’s Salary Guide 2023

Minimum salary of new grads has reached 15,000 Baht again 

In 2020-2021, the Covid-19 outbreak triggered uncertainty in the labor market, causing the starting salary of new graduates to drop from 15,000 Baht to 12,000 Baht, and even reached the lowest point at 10,000 Baht. This year, their minimum salary has rebounded to 15,000 Baht once again. The average salary of employees with 0-3 years of experience has also been found to slightly increase to 24,000-38,000 Baht, with the maximum of 80,000 Baht for IT careers such as security analyst and software tester, followed by ERP consultant, frontend developer, programmer, process engineer, nutritionist, and credit analyst. It can be seen that most of these are the positions that require specific and specialized skills, for example, IT, digital, financial, and analytic skills. This demonstrates the importance of hard skills that working people must have and develop until they become specialists with profound knowledge. Nevertheless, in order to earn a high salary, it is indispensable for candidates or workers to be equipped with other skills as well. These include language and communication skills as well as teamwork skill which will help fulfill the candidates’ skillset so that employers are willing to pay a higher salary than normal.

Economic recovery causes tough recruitment & higher base salary, says Adecco’s Salary Guide 2023

Starting salary soars for employees of almost all levels while IT, logistics and marketing jobs are the hottest ones 

As companies started hiring and recruiting heavily in 2022, the starting salaries of senior and manager positions also rose in the past year: 15,000 Baht to 18,000 Baht for senior positions and 20,000 Baht to 30,000 Baht for managers. The most popular career fields this year remain IT, supply chain management, and sales & marketing since they are the driving force which propels business growth amidst digital transformation, for instance, the development of new technologies to meet people’s needs nowadays, logistics as the heart of e-commerce which is the shopping trend of modern consumers with a tendency to grow continuously, or marketing which must connect online and offline platforms in an outstanding and efficient manner in order to compete with a large number of players in the market. For this reason, those who work in these career fields are in high demand for almost every industry. Employers are happy to offer high salaries to retain competent staff or to attract talented candidates to their companies.  

Economic recovery causes tough recruitment & higher base salary, says Adecco’s Salary Guide 2023

Talent shortage gives candidates more power to negotiate 

Ms. Tidarat Kanchanawat, CEO of the Adecco Group (Thailand), said that  “If we look at the overall picture of the labor market in the previous year, it can be said that 2022 is the year that many companies started to recover from the Covid-19 situation, especially during Q1 and Q2 when there were a large number of job openings in various industries. Also, job transfers of talents with desirable skillsets could be seen in several career fields, which was in line with the global trend. According to Adecco’s Global Workforce of the Future 2022 report last year, 1 out of 4 employees decided to quit or change their job for higher compensation, better welfare benefits, or work policies which suited their needs better. As the number of talents is limited and insufficient for the market’s need (talent shortage), these skillful workers have more power to choose, resulting in the competition between companies to maintain capable staff and attract new talents into their organizations, also known as a talent war. Such competition is reflected in the average salary rates which are higher than last year. This is not only the adjustment to reflect the inflation rates, but it is also the strategy to retain existing skilled staff and appeal to new talents. The ones with the biggest advantage are well-rounded candidates as they have the power to negotiate both in terms of salary and other benefits. They can choose to work with the company that suits their needs the most.

As for the news about employee layoffs by several companies in the previous year which might cause many to feel concerned, in my point of view, some cases happened because such businesses or industries might really face a downturn, such as publishing or TV broadcasting businesses. The layoffs by most technology companies, on the other hand, were caused by the fact that those companies hired more staff in response to the higher-than-usual demand for products and services during the Covid-19 pandemic. However, when things began to get back to normal, the need for labor in such fields might have declined. In companies’ viewpoint, this is a good opportunity to acquire a talent pool full of capable candidates and to look for the right people to join their workforce. The most important thing for candidates is to continue to develop hard skills and soft skills under the T-shaped skills concept which is not just limited to the ability to work in their particular field, but also includes communication skill, teamwork skill, the will to fight without giving up or resilience, the ability to adapt themselves and solve problems in different situations. These are essential skills for work no matter what career you have”. 
Organizations should adjust their work culture to welcome Gen Z to the labor market 

“My advice for companies this year is that HR and organization leaders should gain better understanding of their employees by analyzing data for manpower planning, come up with plans to manage and develop their employees’ skills, and learn about the characteristics of Gen-Z people who are about to step in and become another significant group in their company. It is also important to find a way to adjust corporate culture in preparation for this group, for instance, to get the managers who will work with Gen Z prepared to open up to new ideas, to increase flexibility in their work policies both in terms of place and time, and to create work culture which enables people with differences in terms of age, gender, religion, etc. to work together efficiently. Companies that are able to accomplish these first will be one step ahead of others,” Ms. Tidarat added.

Economic recovery causes tough recruitment & higher base salary, says Adecco’s Salary Guide 2023

Asian Pacific labor market lacks STEM workers

Mr. Simon Lance – The Adecco Group Senior Vice President & Regional Head of Permanent Recruitment (APAC) also discussed about the overall picture of the regional labor market, saying that “The labor markets throughout Asia Pacific are still facing the lack of talents, especially in the fields of STEM (Science, Technology, Engineering and Math), including for senior management positions, while the industries which are growing in this region remain life sciences, healthcare & biotechnology, and renewable energy. In 2023, we should see the growth of tourism, hotel, and hospitality industries as well.

Job transfers across countries in this region tend to increase as the measures to control and prevent Covid-19 are relaxed. This also helps promote corporate image in terms of workplace diversity. Nevertheless, hiring foreigners remains a challenge as it is a costly investment for companies. It is also challenging for workers themselves as they have to get ready to adapt themselves in order to work amidst different cultures.

Still, many companies are starting to compare the pros and cons of offshoring and nearshoring employments for different functions of their organization. Some companies now become interested in shared service centers such as an IT hub or designer hub in one country which will provide its services to other branches of the company in other countries, too. This will allow them to make the most of their existing human resources, and it is another way to cope with worker shortage or high wages due to inflation which are happening in many countries.”

Marriott focuses on human resources as part of growth strategy

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Marriott focuses on human resources as part of growth strategy

Marriott focuses on human resources as part of growth strategy


Nongluck Ajanapanya

Marriott International would prioritise workforce training as part of its sustainable growth strategy this year, a senior company executive said.

Jakob Helgen, area vice president – Thailand, Vietnam, Cambodia and Myanmar, Marriott International, said during an interview on Tuesday that aside from signing more management contracts with hotel owners in Thailand as planned, the company aims to improve its professional training programme. 

The company, one of the world’s leading luxury hospitality companies, would offer reasonable salaries and incentives, as well as equal opportunity in promotions to attract newcomers while keeping current skilled employees, he said.

His commitment came as Thailand’s hospitality industry showed signs of recovery after being stagnant for more than three years due to the Covid-19 pandemic.

Many hotels are dealing with a serious shortage of labour in an industry that is extremely labour intensive, Helgen said.

Employers, particularly in the luxury hotel segment, have to rely heavily on their employees to deliver premium services and provide the hotel’s unique value.

Higher wages and service charges may meet employees’ basic needs, but that does not address all aspects of their career path, he said.

“We want to be the most cherished hotel for employees, as well as the best option for our customers,” he said.

This year, Helgen confirmed that cooperation with local educational institutions, both vocational college and university, would be strengthened.

Marriott will play a greater role in course development while also providing training opportunities for interested students. Marriott also plans to expand the number of young trainees recruited from underprivileged families who could later become full-time employees.

To address the young generation’s expectations, Marriott provides equal opportunities for them to advance to leadership status if they want to advance in this career path via Marriott’s leadership programme, Helgen said.

He believes that providing opportunities for education and training to improve staff skills is one of the most effective ways to sustain the hotel business. It is not only in terms of long-term company growth, but also in terms of enhancing the whole eco-friendly ecosystem, he said.

Marriott International had earlier announced plans to open eight new hotels in Thailand in 2023, with the debut of two new brands — Autograph Collection Hotels and Moxy Hotels — aiming to blend with the rise of mixed business and leisure trips.

“We aim to provide more options for extended stay for our customers with all of the amenities of a home away from home. We also expect the opening of Courtyard by Marriott and Moxy Hotels to add to the country’s existing select service portfolio. These new openings will provide distinct value for travellers by providing all-exclusive hospitality services at an affordable price,” Helgen said.

Marriott International current operates properties across 14 brands in more than 10 Thai destinations, including Bangkok, Phuket, Chiang Mai, Khao Lak, Koh Samui. Under the plan, by the end of this year Marriott will have 16 brands with 56 hotels and executive apartments across the country.

DKSH positions Thailand as R&D hub in Asia with opening of new demonstration lab and calibration center

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DKSH positions Thailand as R&D hub in Asia with opening of new demonstration lab and calibration center

DKSH positions Thailand as R&D hub in Asia with opening of new demonstration lab and calibration center


DKSH Business Unit Technology has opened a sizeable, fully-fitted demonstration lab and calibration center in Thailand, elevating the market to a distinguished research and development (R&D) hub in the region.

Bangkok, January 27, 2023 – DKSH Business Unit Technology, a leading Market Expansion Services provider for technology companies seeking to grow their business in Asia and beyond, has invested in one of the largest fully-fitted demonstration laboratories and calibration centers in Thailand. This move not only solidifies the Business Unit’s position as one of the leading scientific instrumentation providers in Thailand but also strengthens the market’s reputation as a leading R&D hub in Asia.

The 2,270 square meter lab accommodates over 50 machines as well as equipment for demonstrations and 190 professionals offering consultancy and services in four areas: general laboratory equipment, analytical instrumentation, life sciences, and microbiology. 

The calibration center offers ISO/IEC 17025 calibration services, after-sales and workshop services, as well as application development programs for its customers.

In addition, the lab aims at synergizing the close collaboration between academia and industries to ultimately increase research and innovation output. In the demonstration lab, university students will have the opportunity to gain hands-on experience. DKSH Technology plans to host regular seminars featuring renowned experts from domestic and international domains.

DKSH positions Thailand as R&D hub in Asia with opening of new demonstration lab and calibration center

Oliver Hammel, Vice President, Business Unit Technology, DKSH Thailand, stated: In the past three years, Thailand has shown great potential in R&D for vaccination, propelled by the pandemic. DKSH Technology contributed to combat the pandemic in Thailand, whether by developing COVID-19 mobile testing, providing surface disinfection solutions, or offering innovative instruments for research, development, and production for public and private sectors. With this new lab, we are even better positioned to advance Thailand’s potential to be a center for R&D in various fields, including pharmaceutical, food, beverage, cosmetic, chemical, agricultural product, and FMCG industries.

Somchai Chakornsiri, General Manager, Scientific Instrumentation, DKSH Technology, added: “DKSH Business Unit Technology  drives the success of many brands in Thailand. Reputable Thai firms entrust us, as their trusted partner, with their R&D processes for food, medicine, cosmetics, chemical, and agricultural products, among many others. The newly launched lab enables us to provide manufacturers with cutting-edge analytical tools and equipment to advance their innovations and help them succeed.

DKSH positions Thailand as R&D hub in Asia with opening of new demonstration lab and calibration center

About DKSH 

DKSH’s purpose is to enrich people’s lives. For more than 150 years, we have been delivering growth for companies in Asia and beyond across our Business Units Healthcare, Consumer Goods, Performance Materials, and Technology. As a leading Market Expansion Services provider, we offer sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. DKSH is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. Listed on the SIX Swiss Exchange, DKSH operates in 36 markets with 33,100 specialists, generating net sales of CHF 11.1 billion in 2021. The DKSH Business Unit Technology offers complete solutions for specialized industrial applications. With around 1,600 specialists, the Business Unit generated net sales of CHF 430.3 million in 2021.

DKSH positions Thailand as R&D hub in Asia with opening of new demonstration lab and calibration center

10 more Japanese companies offering Thailand solutions for carbon neutral businesses

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10 more Japanese companies offering Thailand solutions for carbon neutral businesses

10 more Japanese companies offering Thailand solutions for carbon neutral businesses


The Japan External Trade Organisation has introduced the “Virtuous cycle of environment and growth Vol 2” as part of the Thailand-Japan Sustainable Business Seminar and Business Matching for Carbon Neutrality project.

It lists 37 Japanese companies with solutionsinnovations and technologies in sustainable business for carbon neutrality, including 10 more companies from the previous volume.

In January 2022, Jetro Bangkok had renewed and signed the cooperation Memorandum of Intent with the Eastern Economic Corridor Office (EECO) and Thailand Board of Investment (BOI).

These companies also participated in the project organised twice last year with the EECO and BOI to help deepen the existing close partnership with the two state organisations and build a more resilient supply chain between Japan and Thailand, making contributions to the policies of both countries including the Bio-Circular-Green (BCG) policy of Thailand.

In the pursuit of realising a virtuous cycle of environment and growth, both countries are working on achieving carbon neutrality, with the former promoting the “BCG Economic Model” as its national strategy and the latter formulating the “Green Growth Strategy”.

The businesses are categorised into nine fields: carbon recyclinghydrogenrenewable energyenergy sufficiencyagritechbiomassupcyclingwaste reduction, and water treatment.

10 more Japanese companies offering Thailand solutions for carbon neutral businesses

Peel Lab KK is the first plant-based leather business in Asia. Based in Osaka, Japan, the upcycling fruit peel manufacturer uses pineapple leaves, coconuts and bamboo as alternatives to leather.

It is inexpensive, light-weight, waterproof and durable, and is used in the interior of automobiles, furniture, and fashion items promoting eco-friendly and contributing to minimising food loss and prevention of animal abuse.

10 more Japanese companies offering Thailand solutions for carbon neutral businesses

Shizen International Inc provides solar energy power purchase agreements for the manufacturing industry and is working towards promoting a lifestyle with safe and sustainable energy by building natural power plants across the world.

Aiming to engage in 10GW worth of power generation businesses across the world by 2030, they currently have solar power and wind power businesses in Malaysia, Thailand, Vietnam, Indonesia, the Philippines, and Brazil.

10 more Japanese companies offering Thailand solutions for carbon neutral businesses

TBM Co Ltd uses scraped plastics and “Limes”, a new material with limestone and “CirculeX”, which contains more than 50% recycled materials.

It can be processed into Limes sheets instead of paper, packing material, containers, and daily products with existing moulding machines. This contributes to recycling and the preservation of resources with a high risk of depletion such as petroleum, water, and forest resources.

The catalogue is in Japanese. Thai, and English version are available at

JD Central discontinues operations in Thailand on March 3

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JD Central discontinues operations in Thailand on March 3

JD Central discontinues operations in Thailand on March 3


Online shopping platform JD Central ( announced on Monday that it was discontinuing its operations in Thailand from March 3, though customer service will be available until March 31.

In a Facebook announcement, the company said the JD Central Official Store will stop accepting orders from 11.59pm on February 15, while the JD Central platform with other vendors will stop accepting orders from 11.59pm on March 3.

The company has promised to fulfil all orders placed on or before March 3. The time taken for deliveries will be determined by the third-party logistics provider and seller.

JD Central’s customer service centre will continue providing after-sales services for completed orders until March 31, from 9am to 6pm, via live chat, phone (02) 030 4599 and e-mail

JD points and discount coupons can be used until March 3, while product warranty will not be affected by the discontinuation of the platform.

JD Central is an e-commerce platform set up in 2018 by Thailand’s Central Group and China’s e-commerce operator It was named the Best e-Commerce Solution and Best e-Commerce Campaign – B2B in the Marketing Asia e-Commerce Awards 2020 hosted by Singapore’s “Marketing” magazine.

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PPT’s life-science arm Innobic reaches profitability, targets THB7bn revenue this year

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PPT’s life-science arm Innobic reaches profitability, targets THB7bn revenue this year

PPT’s life-science arm Innobic reaches profitability, targets THB7bn revenue this year


Innobic (Asia) Co Ltd, the biotechnology arm of national oil and gas conglomerate PTT, generated profit for the first time in 2022 after being established in 2020 with a mission to develop life science products.

Innobic’s profit last year was driven by the sales performance of Lotus Pharmaceutical Ltd, in which it holds a 37% stake worth 6 billion baht, said Innobic chairman Buranin Rattanasombat.

“In 2022, Lotus Pharmaceutical reported 15 billion baht in sales and nearly 2 billion baht profit, which contributed to the positive turnover of Innobic,” said Buranin, who also serves as PTT’s senior executive vice president for innovation and new ventures.

Innobic paid 16.46 billion baht in May last year to acquire Alvogen Emerging Markets Holdings Ltd (AEMH), a major shareholder of Lotus Pharmaceutical Ltd and the sole owner of Adalvo Ltd. As a result, Innobic also has a 60% stake in Adalvo, a leader in patent trading industries.

Innobic has raised its revenue target 15% to 7 billion baht this year, Buranin said.

Sales of Innobic products are expected to generate 480 million baht while the rest is projected from Lotus Pharmaceutical sales.

The company will invest 1.3 billion baht in the first quarter to build a factory producing active pharmaceutical ingredients (API) for anti-cancer drugs for the Government Pharmaceutical Organization.

The factory will be located in either the Eastern Economic Corridor or nearby province such as Bangkok or Ayutthaya. It should be ready to manufacture API by 2027, Buranin said.

So far Innobic has rolled out two food-supplement products, namely Innobic Pro Beta-Glucan+ and Innobic Probiotics GD, developed in collaboration with Chulalongkorn University and Thailand Institute of Scientific and Technological Research, respectively. Both are available at drug stores nationwide, the Shopee platform and the Innobic official shop.

This year, the company plans to launch 10 more products in the Thai food-supplement market, which is worth an estimated 75 billion baht per annum.

It said its existing two products are expected to reach sales of at least 100 million baht this year.

“We are also eyeing the overseas food supplement market, especially in the rapidly expanding Asean region of over 600 million people,” Buranin said. “From 2024 we will open branches in neighbouring countries starting with Vietnam to introduce life science products to local markets.”

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