Proceeds from the debenture issuance will be used to refinance bonds reaching maturity this year and to keep the company’s total debt at the same level. It will, however, adjust the net debt to equity ratio (ND/E) of 1.35-1.40 times currently to 1.15 – 1.20 times.

The company will utilise the funds to strengthen its financial structure and build a strong foundation. It said the success of the offering signaled that investors have confidence in the business capabilities and outlook for one of the world’s largest seafood companies. The debentures will offer an annual return of 5 per cent for the first five years.

“I would like to thank both institutional and general investors for their support, and our financial institution partners for arranging the debentures,” said CEO Thiraphong Chansiri.

“These funds are important, not only in adding strength to our financial structure, but will also allow us to continue expanding our business as part of our strategy to build sustainable growth.”

The debentures were rated A-/Stable by Tris Rating, while Thai Union was rated A+ with a stable outlook.

Separately, Thai Union Group also succeeded in issuing Bt6 billion worth of senior unsecured debentures to institutional investors on November 6.

The debentures were offered in two tranches – 7-year, Bt2 billion bonds with an interest rate of 2.78 per cent per annum and 10-year, Bt4 billion bonds with an annual interest rate of 3.00 per cent.

The average interest rate of the senior debentures is 2.93 per cent per annum and the average tenor is nine years. More than 20 institutional investors participated in the book building process.

The debentures received overwhelming demand and were oversubscribed by more than 3.5 times by institutional investors.

The company also announced three series of TUC’s debentures with fixed coupon rate from 3.50 per cent up to 4.70 per cent per annum. TUC and its debentures were assigned “BBB+” rating with a “Stable” outlook by TRIS Rating on November 5, 2019.

Bangkok Bank, Kasikornbank, Siam Commercial Bank, CIMB THAI Bank and Thanachart Bank are the joint lead arrangers for the debenture issuance.

Yupa Leewongcharoen, True Group Chief Financial Officer, said TUC had announced a fixed coupon rate for the three series of debentures and expects the subscription period to be from December 16 to 18.

The debentures of TUC are unsubordinated and unsecured debentures with debenture holders’ representative, and offer quarterly coupon payments with a minimum subscription amount of Bt100,000 and multiples of Bt100,000 for additional subscriptions.

Proceeds from this debenture issuance will be used to pay telecommunication frequency license fees and to fund working capital requirements.

Three series of TUC’s debentures which will be offered to general investors are;

1. TUC’s debenture Series 1: tenor 3 years, fixed coupon rate of 3.50% per annum

2. TUC’s debenture Series 2: tenor 4 years 3 months, fixed coupon rate of 4.10% per annum

3. TUC’s debenture Series 3: tenor 5 years 6 months, fixed coupon rate of 4.70% per annum

The company is in the process of filing process of this debenture issuance with the Securities and Exchange Commission (SEC) and expects the SEC to announce the filing effective date by mid-December.

The registration statement and prospectus may be downloaded at the website of the SEC at www.sec.or.th or obtained from the branches of any of the five arrangers: Bangkok Bank (tel1333); Kasikorn BANK PCL (tel 888 8888 press 8190); Siam Commercial Bank (tel [02] 777 6784); CIMB THAI (tel [02] 626 7777) and Thanachart Bank (tel 1770).

After Chansin Treenuchagron stepped down from the position, PTT launched an advertisement for the job on November 4 via television, radio, the media and the PTT official website, and applications officially closed on Tuesday (November 26).

Six candidates have made it to the shortlist but the battle is expected to be between just three of them.

Auttapol Rerkpiboon is Chief Operating Officer of the Downstream Petroleum Business Group of PTT while Noppadon Pinsupa is Deputy Directing Manager of PPT working on secondment as Directing Manager of IRPC.

Wirat Uanarumit is Chief Operating Officer of Downstream Petroleum Business Group of PTT working on secondment as Chief Executive Officer and President of Thai Oil.

The announcement of the new CEO is expected to be made in December.

He said the company had maintained a growth target for oil sales by volume this year of between 16 and 20 per cent, up from 3,921 million litres last year, thanks to high demand and promotional campaigns.

PTG has also maintained an investment target of between Bt4 billion and Bt4.5 billion this year, of which Bt3 billion-Bt3.5 billion will be spent opening more fuel and LPG stations and another Bt500 million on investments outside the oil business.

Art Space’s selling point is a top quality storage area with 24-hour temperature and humidity control and a logistical service provided by a team of professional movers with more than 10 years of experience. Insurance coverage is included and a mobile app provides customers and interested members of the public with a communication channel and updates on information related to arts.

CEO Charvanin Bunditkitsada noted that the Art Space is being managed by JWD Art Space Compan, which is 99.99-percent owned by JWD InfoLogistics. It offers an integrated one-stop logistics service for artworks for the first time in Thailand and aims to fulfill the needs, and solve various pain points, for art and sculpture collectors who make up its primary target group. This will help the company to increase the proportion of B2C (business-to-consumer) customer base.

JWD Art Space has a serviceable floor space of 365 sqm and can to store up to 1,000 artworks. Every logistical aspect is covered including the transportation of artworks by a team of professionals from JVK Movers who have more than 10 years’ experience in this business, insurance coverage, storage of the artworks in a 24-hour temperature and humidity controlled area, highest security standards, exhibition space, and the possibility to serve as a gathering place for artists and art collectors.

“We JWD Store It! Siam Branch a year ago to provide personal storage space and saw the opportunity to add integrated one-stop logistical services for artworks for collectors who need proper space to store their valuable collections in the most ideal conditions. We added a data collection service to record details of artworks as well as storage spaces suitable to maintaining the artworks in mint condition, and also an artwork moving service of the highest standard,” Charvanin continued.

“We hope that our facility will soon become a regional art center that will bring together the contemporary art networkers both within the country and the region. And as this facility is located in the heart of the commercial district with convenient access, we are quite confident that this new line of business will be a success,” Mr. Charvanin said.

Charvanin said that the company has also developed a mobile application called “JWD Art Space” as a communication tool for customers to access the services that include booking artwork transport, updating storage status, and providing information on art exhibitions that are to be held both locally and abroad.

The company expects the Art Space business to generate Bt10-15 million annually.

The official launch on November 26 attracted a lot of interest with a large crowd of art collectors and artists attending the opening ceremony and expressing interest in using the service.

“Over the next three years, JWD is planning to invest in 15-20 additional branches of self-storage in mid-town areas to provide customers with convenient access. If the Art Space business is as profitable as we expect, we are prepared to set aside space at the self-storage branches to expand the Art Space business to support the increased need for this type of service,” he concluded.

The appointment is effective as of January 1, according to the statement released today (November 27).

Stepping up from his current role as Group chief operating officer, Rajakarier will maintain his leadership role as CEO of Minor Hotels, ensuring the continued development and success of the hotel division.

As Group CEO, Rajakarier will be responsible for Mint International’s overarching strategy across all business units, including the corporate shared services of legal, IT and finance, as well as talent development and business culture.

“It is a huge privilege to be given the opportunity to lead Minor International – a truly global company that is renowned for its incredible growth and talented team members. I am tremendously optimistic about the future of our company. Indeed, we are moving swiftly to structure the organization for even faster growth, to ensure we can respond to the fast-changing needs of customers around the world in each of our business avenues,” Rajakarier said.

“William Heinecke’s industry and leadership achievements are recognized globally and the outstanding success of the company speaks for itself. Heinecke’s industry insight and personal dedication have fostered global success from the ground up, and I fully intend to build upon the values and assets of his incredible accomplishments.”

Since joining Minor in March 2007 as VP Finance for the Hotel Group,

Rajakarier has played a significant role in the expansion of the hotel division, making it a much-admired leader in the industry. Notable achievements under his leadership include the recent acquisition of NH Hotel Group, which was not only the largest deal to date for Minor Hotels but also a highly strategic transaction, the addition of Tivoli brand in Europe and Latin America, the Elewana brand in Africa and the Oaks brand in Australia, among others.

Under his tenure, the Anantara brand has expanded from Asia to the Middle East, Africa and Europe. The Avani brand was also created and expanded into a sizable portfolio. Mint International now boasts a solid collection that exceeds 520 hotels.

Rajakarier has also overseen the achievement of robust financial results in the hotel division, which have greatly contributed to the overall success of Minor International.

Prasit Boondoungprasert, chief executive officer of CPF, said that winning the award in “Best Sustainability” and maintained its place as a sustainability company in THSI, affirmed CPF’s success in driving the enterprise towards sustainability under the three pillars of “Food Safety, Self-Sufficient Society and Balance of Nature”.

In addition, it also highlights the company’s management through its three growth strategies:

The first is Value Creation which emphasises food innovations and the development of nutritious and tasty food products that meet consumer demand.

Second, Digital Transformation that integrates technology throughout the value chain from the sourcing of feed raw materials, feed production, farming and processed food production to customer relations management. The same applies to accounting, financial and human resources management for efficient supply chain operations.

Third, Driving Sustainability that aims for growth and sustainability through sustainable sourcing methods; environmental impact mitigation; and the reduction of plastic use, food loss and food waste in line with the Circular Economy concept. Best practices are adopted to make good use of natural resources and help combat environmental issues under the UN Global Compact and UN Sustainable Development Goals (UN SDGs).

“Sustainable growth requires an adjustment to constant changes. CPF has laid down principal strategies – Value Creation, Digital Transformation and Driving Sustainability – to drive our business towards these goals. With these strategies in place, we can cope with new challenges, ensure business growth, care for environmental and social impacts, and achieve corporate good governance on the path to becoming a sustainable organisation for the benefits of all stakeholders,” Prasit said.

The company is strongly committed to international sustainable standards and regulations to attain sustainability. CPF intends to maintain the trust of business partners and customers in a company that has continuously adapted to changes.

Slated to open in early 2021 in the Station 1 area of the island’s White Beach, the new hotel will have 120 guest rooms offering high levels of comfort and convenience, plus impressive views of the beach and surrounding emerald waters.

In keeping with the high standards of the upper-midscale Dusit Princess brand, each guest room will feature premium-quality beds, a cosy bathroom with a powerful shower, a range of modern amenities, and a contemporary design.

Hotel facilities will include a large swimming pool overlooking the beach, a fully equipped gym, and function rooms for social and business events. An all-day dining restaurant and local speciality restaurant will also be part of the offerings.

Dusit Princess Boracay’s prime location ensures guests will enjoy easy access to the atmospheric dining scene of West Beach and the exhilarating water sports activities of Bulabog Beach, as well as the scenic hiking trails of Mount Apo and the marine life found at more than 15 beautiful dive sites.

Located only 15 minutes by car from Cagban Jetty Port, which is linked by ferry to Caticlan Airport, the hotel is easily accessible. Flights to Manila take one hour, while flights to Cebu take 50 minutes.

“We are delighted to continue our expansion in the Philippines by signing to manage Dusit Princess Boracay in one of the country’s best-loved tourist destinations,” said Suphajee Suthumpun, Group CEO, Dusit International.

“IBC’s focus on sustainable development perfectly aligns with our own commitment to always have a positive impact wherever we set foot. We now look forward to delivering a hotel experience that not only delights our guests and customers, but which brings enduring value to the island community too.”

“Our vision for this project has always been to aid in the sustainable development of Boracay as a destination while preserving the natural beauty for which the island is renowned. Dusit’s rich experience in managing island-based resort properties, coupled with its passion for sustainable operations, makes it the perfect partner for this special project. We are delighted to partner with them to bring our vision to life, and we look forward to a long and prosperous relationship together,” added Alfonso Tan, IBC’s chairman.

The funding will primarily be used to accelerate the company’s growth by investing in new technologies to enhance its payments platform, hiring local talent, and consolidating market share in Southeast Asia with a view to expanding beyond the region over the next year.

2C2P helps regional businesses securely accept payments from millions of customers in Southeast Asia. 2C2P’s payments platform is used by both large corporations and brands and is the preferred Asean payments platform provider of regional airlines, travel companies and global retailers, said a press release.

“Having achieved a critical mass both in terms of market share and our merchant base, and looking at the continued growth and potential of Southeast Asia’s Internet economy, we felt this was the right time to bring in additional resources so we can strengthen our market leadership position, expand the business, and compete more effectively,” said Aung Kyaw Moe, founder & group CEO.

Southeast Asia’s Internet economy is growing at an unprecedented pace, hitting $100 billion in 2019 and is expected to touch $300 billion by 2025, according to a report by Google, Temasek, and Bain & Company.

The gross merchandise value of the Internet economy makes up 3.7 per cent of Southeast Asia’s gross domestic product in 2019 and is projected to exceed 8 per cent by 2025.

Digital financial services is one of the key drivers of growth, with digital payments in Southeast Asia in particular expected to exceed $1 trillion in gross transaction value by 2025, notes a sister report conducted by Google, Temasek and Bain & Company.

To meet this demand, 2C2P has been working with its merchants to offer an integrated payments platform allowing these regional businesses to enable local payment options in each country.

“We’re not consumer tech and we don’t want to be,” Aung said. “2C2P’s strength lies in our relationships with our merchants – we know what they need, how they want to collect payments, and we can build it for them,” he added.

“Cento Ventures has had the privilege of being an investor in 2C2P since 2011, and we are thrilled to lead this new round in partnership with global institutional investors. We have a very high degree of conviction that 2C2P has the right recipe to serve large, multi-country merchants who face the complexity of payments in Southeast Asia. The investment provides the 2C2P team with the financial resources to unlock a new stage of digital economic growth across this region and beyond,” said Dmitry Levit, founder of Cento Ventures.

“We are excited to support 2C2P and help the company grow its regional presence,” said Andi Dervishi, head of IFC’s Fintech Investments. “2C2P’s mission and product offering are well aligned with IFC’s objective of promoting electronic payments to help underserved people and small businesses participate in the digital economy.”

Said Melissa C Guzy, co-founder and managing partner at Arbor Ventures: “We are very excited to join the investment syndicate since we believe that 2C2P is the Asean leader in processing payments and has been transforming the entire landscape by freeing up trillions of dollars stuck within the cash economy. In order for payments to meet the needs of a 21st century economy, digital transactions must happen in real-time. The team at 2C2P has a very clear vision of the future of payments in the region which is why this is a team we chose to back.”

The latest round of funding brings 2C2P’s total so far to $70 million, including $18 million raised in the earlier series.

2C2P has dual headquarters in Singapore and Bangkok and operates across Southeast Asia, North Asia, the US and Europe.

CCE is an international consortium of three companies with their respective areas of expertise providing new alternatives for future energy utilising industrial waste.

Three of them are WHA Utilities and Power (WHAUP), a subsidiary of WHA Group, Glow Energy, a subsidiary of Global Power Synergy, and Suez, a world leader in smart and sustainable resource management.

CCE’s total project investment is approximately Bt1.8 billion. It can convert more than 400 tonnes of industrial waste into electricity per day, or approximately 100,000 tonnes per year at its rate of operation. Out of its total capacity of 8.63MW, 6.9MW will be sold to the Provincial Electricity Authority under a 20-year power purchase agreement.

CCE has also signed a waste supply agreement with Waste Management Siam (WMS), a leading player in Thailand’s waste collection, treatment and disposal.

Under this agreement, WMS will annually supply about 100,000 tonnes of industrial waste collected from WHA industrial estates in Chonburi and nearby areas. Using safe and environmentally sustainable waste incineration technology and high-standard air emission control systems, the facility can convert waste generated from industrial manufacturing activities into superheated steam that will in turn propel a turbine to generate electricity.