#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Julius Baer’s Thai joint venture targets 1trn slice of wealth management business

CorporateAug 26. 2020Photo credit: scbjuliusbaer 

By The Nation

A joint venture between Siam Commercial Bank (SCB) and Swiss firm Julius Baer Securities is targeting a large slice of the wealth management business for high net worth individuals.

Wealth management for individuals worth over Bt100 million is a market worth Bt10 trillion and growing at 9.9 per cent per year.

The joint company – SCB-Julius Baer Securities – is targeting a market share of Bt1 trillion or 10 per cent in the next five years.

At 1 trillion, SCB-Julius Baer would become one of Asia’s top 20 private banks by assets under management, based on Asian Private Banker’s 2019 league table.

Lalitphat Toranavikrai, CEO of SCB-Julius Baer Securities (SCBJB), said the number of high net worth individuals is likely to increase, adding that they also topped up investment continuously.

“The reason high net worth individuals invest in our securities company is because we can manage their investment portfolios professionally and are able to generate returns of at least 10 per cent per year,” she said.

“We were able to maintain growth in this market because we are a world-class investment expert who understands how to manage risks.”

She said SCBJB invested 100 per cent in overseas – 51 per cent in foreign equities, 40 per cent in foreign debt instruments, 5 per cent in foreign currency exchange markets, and 4 per cent in other foreign assets.

“Though we face the Covid-19 crisis, we believe that high net worth individuals will not stop their investment, so we expect [our] assets under management to hit Bt20 billion this year,” she said.

She said investors still face various challenges this year, especially from the Covid-19 fallout causing volatility in markets during the past two quarters.

“However, we witnessed signs of economic recovery in the third quarter of this year, while global gross domestic product next year is expected to grow by 6.5 per cent from this year, which is expected to contract by 3 per cent,” she said.

“Therefore, we expect the equity market to be more interesting than the safe-haven asset market, while we will focus on investment in the US and China.”

SCB-Julius Baer is also appointing more staff.

“To support the securities company’s growth and generate the best returns in the future, we will increase the number of relationship managers to 30 positions by the end of this year.

She added that SCBJB recently opened its first Thailand office, located on Sukhumvit Road.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

PTT plans Bt5,000 allowance to employees to stimulate domestic tourism

CorporateAug 26. 2020

By THE NATION

PTT’s board of deputy directors will meet today (August 26) to discuss a cash handout initiative to its staff for boosting domestic tourism, a source said.

They will consider granting Bt5,000 to the company’s employees to use for travel within the country.

“Currently PTT Plc has around 3,000 staff with over 18,000 employed by companies under PTT Group,” added the source. “The number does not include subcontracted employees.”

The source expected more details to be unveiled shortly after the measure was approved, and that it would be implemented immediately without having to be proposed to the board of directors.

Minister of Tourism and Sport Phiphat Ratchakitprakarn had said earlier that the Cabinet meeting on Tuesday (August 25) in Rayong province had agreed to upgrade the “Rao Tiew Duay Kan” (We Travel Together) tourism stimulus scheme after it received a disappointing response from travellers.

Only 660,000 of the 5 million nights of subsidised accommodation offered under the scheme has been booked by travellers since it started operating in July. In response, the Cabinet agreed to extend the period of subsidised stays for each traveller from five nights to 10 nights and doubled the air-fare subsidy from Bt1,000 to Bt2,000. Large companies will also be invited to take advantage of the scheme by organising training seminars and events in popular destinations around Thailand.

“The scheme would be financed by the Bt400-billion budget for economic rehabilitation due to the Covid-19 outbreak, from which Bt20 billion was allocated to boost tourism,” added Phiphat.

Meanwhile, Prime Minister Gen Prayut Chan-o-cha said during the Cabinet meeting that the Centre for Covid-19 Situation Administration is considering the possibility of letting foreign tourists enter Thailand in October. “We need to prepare suitable measures to prevent the risk of outbreak in order to regain 20 million foreign tourists that we used to have and to prevent tourism businesses from closing down any further,” he said.

“Currently Thailand has effective measures to screen and track down patients who may have slipped into the country thanks to adequate medical professionals and facilities. We need to always balance between the fulfilling of economic needs and maintaining public health.”

Office of PM spokesman Anucha Burapachaisr added that the Cabinet on Tuesday also approved the decisions of the Centre for Economic Situation Administration’s meeting on two aspects, namely the plan to invite foreign tourists under the Phuket Model, and the preparation of new graduates for labour markets in the new normal era.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Court to rule on THAI rehab on Sept 14

CorporateAug 25. 2020

By The Nation

The Central Bankruptcy Court will rule on Thai Airways International’s petition for business rehabilitation on September 14.

Three days of hearings on the debt-laden carrier’s petition concluded today.

If the court orders the rehab can go ahead and appoints the rehab planners nominated by THAI, creditors have one month to file for repayment of debts, either online or at THAI’s Bangkok headquarters.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Red Hat chief: We’re committed to helping customers adapt to new normal

CorporateAug 25. 2020Andrew Habgood, senior director, Partner & Alliances, Red Hat Asia Pacific 

By The Nation

Red Hat, a global leader in open-source solutions, is committed to supporting its customers, partners and communities in adapting to the new normal, said Andrew Habgood, senior director, Partner & Alliances, Red Hat Asia Pacific.

He made the remark at the one-day virtual Red Hat Asia Pacific Partner Conference 2020 on August 20 under the theme “The Future is Open”.

“This year has been challenging to say the least. We know that across countries, regions and industries, it’s been a pretty tumultuous year so far. And this is not going to change anytime soon. Red Hat is absolutely committed to support our customers, partners and open-source communities in adapting to the new normal and being ready to find new opportunities as we go forward,” Habgood said.

“While everyone has been impacted in different ways, most customers today are still reacting to the Covid-19 crisis. They’re simply focused on business continuity and reacting to the urgent needs of their customers,” he stated.

Habgood sees three customer profiles, each with very different needs.

He said some customers are “retracting” their businesses. These customers may be pausing, or renegotiating current terms. They need to reduce costs and increase efficiency, but do it in a way that doesn’t affect their bottom line.

“Certainly, patient discussions are needed to find solutions that didn’t work before. Solutions that can help them reduce costs, optimise infrastructure and also focus on user experience, digital channels and innovation in development. That will help them prepare to pivot into new areas and change their business models according to the market,” Habgood said.

“Then, of course, there are [a second type of] customers who want to protect their current business models while preparing for the future, staying the course. When we look at cost efficiencies, energy, technology and electronics are just some of the vertical industries that are impacted,” he said.

Habgood said Red Hat is helping customers make sure they are optimising the value of their existing subscriptions and using technologies such as Red Hat OpenShift, Red Hat Insights and Ansible Automation to maximise the benefits of investments they’ve made, and also prepare them for hybrid cloud or cloud native migration.

These customers, he said, are looking to carry out new projects, or they need to balance this against not creating new risks to their existing models.

The third type are those who are scaling, accelerating or needing to scale to keep up with new demand, Habgood said. These are vertical industries such as telecommunications, education, public sector, healthcare and financial services.

These customers have had to invest rapidly to support the new growing capacity of their IT environments, he said. They need to innovate quickly and accelerate development of new initiatives. Transforming and developing capabilities is absolutely key to this, he added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

WHA cuts profit forecast

CorporateAug 25. 2020

By The Nation

WHA Corporation has cut its profit forecast this year to the same level as the previous year of Bt13.3 billion due to the Covid-19 fallout.

The company cut its land sales this year to 900 rai – 600 rai in Thailand and 300 in Vietnam – from 1,400 rai (1,200 rai in Thailand and 200 rai in Vietnam).

Chairman and chief executive officer Jareeporn Jarukornsakul said the industrial estate business in the third quarter is still suffering the impacts of the Covid-19 pandemic, with foreign customers unable to sign land contracts due to lockdowns in their countries.

“However, we expect land sales to recover in the fourth quarter if the government allows foreign investors to enter the country,” she said.

Jareeporn also said the company’s logistics business continues to perform well as domestic customers were interested in renting warehouses.

“Customers are waiting to sign contracts to rent more than 40,000 square metres of built-to-suit warehouses, which are expected to be completed by the third quarter this year,” she said.

“Therefore, we are confident that our warehouse rentals will hit the target of 250,000 square metres, as rentals in the first quarter were 100,000 square metres.”

Jareeporn said WHA’s public utility business is doing well, as the drought problems have largely been resolved, while demand for water has increased after the government eased its lockdown measures, enabling industrial operators to resume business.

“Also, the sale of electricity is likely to increase,” Jareeporn said.

She said the company plans to sell 50,000 square metres of land for rent worth around Bt1billion to Hemraj Leasehold Real Estate Investment Trust and 130,000 square metres of warehouses for rent worth around Bt3 billion to WHA Premium Growth Freehold and Leasehold Real Estate Investment Trust in the fourth quarter, expecting to receive approximately Bt4 billion.

Meanwhile, an analyst at Bualuang Securities advised investors to buy WHA shares, because the market already recognises the company’s move to cut land sales.

“WHA gained positive sentiment, especially among Japanese customers, from strong demand for moving its production bases to Thailand,” the analyst added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Delta warns of furloughs amid grim travel outlook

CorporateAug 25. 2020A worker loads postal packages onto a Delta Air lines plane at Newark International Airport in New Jersey on June 9, 2020. CREDIT: Bloomberg photo by Angus Mordant

By Syndication Washington Post, Bloomberg · Mary Schlangenstein · BUSINESS, TRANSPORTATION 
Delta Air Lines will furlough 1,941 pilots in October because it sees little chance of improvement in the bleak outlook for commercial flying over the next six months.

The carrier will have more pilots than it needs to fly a reduced schedule even after 1,806 voluntarily retire early, according to a company memo sent to aviators Monday. Delta also said the furloughs could be reduced or avoided if the company and the Air Line Pilots Association labor union can reach an agreement to cut costs as the coronavirus guts demand for flights.

“We are six months into this pandemic and only 25% of our revenues have been recovered,” John Laughter, senior vice president of flight operations, said in the memo. “Unfortunately, we see few catalysts over the next six months to meaningfully change this trajectory.”

Delta’s warning underscores the risk of thousands of layoffs at U.S. airlines after Sept. 30, when job protections linked to federal financial aid expire. Debate has stalled in Congress over a six-month extension of a federal payroll-support program, which would carry the same restrictions on workforce cuts. Travel demand remains less than a third of its level a year ago.

The Air Line Pilots Association chapter at Delta said that it was “extremely disappointed” with the decision, and that the loss of nearly 4,000 total pilots will leave the carrier in a poor position to increase flying when the industry does recover.

“It’s not too late for management to complete discussions at the bargaining table and help mitigate the need to furlough,” Chris Riggins, a union spokesman, said in a statement. “It’s not too late for them to take a constructive rather than a destructive approach to dealing with this unprecedented situation.”

The voluntary departures next month will leave Delta with about 11,200 active aviators, Laughter said. That’s still more than the 9,450 that the company expects to need for the summer of 2021 – the expected peak of travel demand over the next 12 to 18 months.

“It’s vitally important for Delta’s recovery that we reduce our size considering the prolonged and uncertain road ahead,” Laughter said in the memo.

In July, the airline proposed cutting the number of hours pilots fly each month by 15%.

The potential furloughs were reported earlier by CNBC.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Govt Housing Bank auctioning off 5,500 properties

CorporateAug 21. 2020GHB’s president Chatchai Sirilai

By The Nation

The Government Housing Bank (GHB) will tomorrow (August 22) auction off more than 5,500 pre-owned houses, flats and vacant land plots.

Out of the total, 550 are located in Bangkok or its vicinity.

Bidders can register from 8am while the auction will begin at 10am. The auction of property located in Bangkok and Greater Bangkok will take place at GHB headquarters on Rama IV Road, while property in the provinces will be auctioned off at its nationwide branches.

The bank’s president Chatchai Sirilai said the auction was part of its mission to help Thais own their own homes.

The auction is part of the bank’s move to sell off at least Bt4 billion in non-performing assets (NPA) this year.

It sold off NPA worth Bt956.77 million in the first six months and then Bt1.241 billion in July alone.

Chatchai added that if there is no second wave of Covid-19 in the second half of the year, the bank has a chance of nearly meeting its 2020 NPA sale target.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Bankruptcy court calls extra day of hearing on THAI rehabilitation petition

CorporateAug 21. 2020

By The Nation

The Central Bankruptcy Court has set an additional day on August 25 for the examination of the business rehabilitation petition involving Thai Airways International Plc (THAI), when objectors’ witnesses can testify before the court, THAI director and acting president Chansin Treenuchagron said.

He was speaking on Thursday, the second day of the examination of the business rehabilitation petition at the court.

THAI authorised Chai Eamsiri, acting executive vice president, finance and accounting, and Deloitte Touche Tohmatsu Jaiyos Co, Ltd, THAI’s auditor, as its witnesses to testify before the court on the issue of THAI’s insolvency and the current financial status of THAI being unable to repay its dues and debts. The objectors have accepted the claims without further objections, Chansin said.

Dhipaya life Assurance Pcl, one of the creditors, withdrew the objection to nominate a joint planner.

Once the proceedings related to the examination is completed and the court issues an order for business reorganisation, and also appoints the planners nominated by THAI, the Legal Execution Department will notify all the creditors regarding the registration process for filing an application for repayment of debt, Chansin said.

All creditors can proceed with the filing by themselves at home via electronic means or bring the documents to the THAI head office on Vibhavadi Rangsit Road.

THAI will provide the particulars of the date, time, and location in due course, Chansin said.

The creditors must file an application for repayment of debt within one month after the order for business reorganisation is granted and the appointment of planners is published in the Government Gazette.

If the court issues an order for business reorganisation and appointment of planners nominated by THAI, the airline said it would brief all creditors on the draft business reorganisation plan, Chansin said.

Chansin expressed his appreciation for THAI’s creditors and customers, “who have remained confident and always supported THAI, despite being under business reorganisation proceedings”. He said THAI is prepared to fulfill its commitments and would do its best for the benefit of all parties.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

MINT cuts investment budget by 30% to break even faster

CorporateAug 21. 2020

By The Nation

Hospitality giant Minor International (MINT) says it is reducing costs and cutting its investment budget by 30 per cent (around Bt10 billion) to reach break-even point faster.

Chaiyapat Paitoon, MINT chief strategy officer, said the company’s second-half performance is expected to improve after the company’s businesses bottomed out in April and May this year and its hotels and restaurants gradually reopened.

“These positive sentiments will boost the company’s second-half revenue above the first-quarter earnings of Bt30.244 billion and reduce losses,” he said.

For the second half of the year, MINT’s hotel arm will focus on domestic tourists as demand rises after the lockdown, while it expects to see a clearer picture of the travel bubble scheme for foreign tourists.

“For the restaurant business, we expect to see growth in revenue though a decline in delivery services. However, same-store sales growth is expected to recover from the third quarter onwards,” he said.

“[MINT’s] lifestyle business is still performing well, especially online sales”, driven partly by demand for disinfectants, he added.

The company is working on reducing costs by over 20 per cent year on year and has cut the investment budget by 30 per cent or Bt7 billion to Bt10 billion, he said.

This would enable the company to reach the break-even point faster from a hotel occupancy rate of 30-40 per cent instead of the previous of 50-60 per cent.

“Meanwhile the restaurant business is expected to reach break-even point from sales at 69 per cent from the previous of 80 per cent.”

He added that the company’s cash flow was at a level above Bt36 billion, while its credit line was Bt26 billion, resulting in liquidity of up to Bt60 billion – sufficient for operating costs and repayment of debts.

“In the second half, Bt3.5 billion in long-term debts will come due, while Bt4 billion debentures will reach maturity in the first half of 2021,” he added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Open source solutions provider Red Hat ‘opens the future’ with virtual conference

CorporateAug 20. 2020Andrew Habgood, senior director, Partners & Alliances, Red Hat Asia Pacific

By The Nation

Red Hat Inc, a global leader in open source solutions, kicked off its virtual Red Hat Asia Pacific Partner Conference 2020 on Thursday (August 20) bringing together more than 2,200 Red Hat partners, distributors, systems integrators, independent software vendors (ISVs), original equipment manufacturers (OEMs) and solution providers.

This year’s theme is “The Future is OPEN”, and featured keynotes, panel discussions and breakout sessions centre around open source technologies that can help accelerate the market’s recovery during the Covid-19 outbreak, with a focus on application modernisation and integration, IT automation, containers, hybrid cloud and open source innovation.

The conference provides a platform for partners to exchange ideas, engage in meaningful discussions, and network directly with Red Hat leaders and others in the partner ecosystem.

The virtual conference began with a keynote presentation by Dirk-Peter van Leeuwen, senior vice president and general manager for Red Hat Asia Pacific, followed by sessions with Frank Feldmann, vice president of Red Hat’s APAC Office of Technology, and Andrew Habgood, senior director for Red Hat Asia Pacific’s partners and alliances.

Other notable guest speakers include Sandra Ng, group vice president, IDC’s Asia Pacific practice group, and Arunava Chakrabarty, director, Channel Scale and Partners for the Asia Pacific Japan territory at Intel who will provide insights into the regional partner landscape and future market opportunities.

The event is also showcasing partner solution stories and case studies by Viju Chakarapany, senior director and regional head, solution architecture and enablement for Red Hat Asia Pacific.

In addition to presentations from Red Hat executives and award-winning partners such as Sify Technologies and Intel, the Red Hat Asia Pacific Partner Conference 2020 acts as a hub for new ideas, collaborative opportunities and a network for partners wanting to define the business of the future.

Other event highlights include:

• The Red Hat Asia Pacific Partner Awards 2020

• Breakout sessions and tracks conducted by Red Hat experts on emerging technology

• Panel discussion with experts from IDC, Red Hat, Intel and ecosystem partners on addressing new challenges in a changing market

• Insights by IDC on accelerating the market recovery journey

Habgood, senior director, partners and alliances, Red Hat Asia Pacific, said: “We want to continue celebrating the collaboration we share with our partners in the Asia-Pacific region. The conference is a defining event for the open future we are nurturing together with our partners across different verticals. With many businesses in the region embracing open source and its role in transforming industries, it is inspiring to see them embark on their cloud journeys using Red Hat solutions to build world-class enterprise-grade solutions.”