The company’s net profit was Bt18.7 billion in the first half of the year, showing a 16 per cent slump from last year’s first half. In the second quarter of this year, the group reported a revenue of Bt109.09 billion and net profit of Bt7.04 billion, which was 9 per cent and 27 per cent less than the same period last year respectively.

Roongrote said judging by the market trends, the company has no choice but to revise down its revenue target.

SCG has also revised its investment plan this year by suspending some projects that will take more than three years to go into operation, but is continuing with projects expected to generate returns in one or two years, he said.

He added that the company had gone ahead with spending Bt20 billion to acquire a 55 per cent stake in Indonesia’s packaging firm Fajar in June.

Thammasak Sethaudom, SCG’s vice president of finance and investment, said Fajar is expected to start contributing to the group’s revenue in the third quarter of this year. Fajar reported a net income of 1.40 trillion rupiah (Bt3.1 billion) at the end of 2018.

“Initially, we had earmarked Bt60 billion for investing both locally and overseas, including the petrochemical complex in Vietnam. However, our plan to acquire a state in Fajar was not included, which later pushed the budget beyond Bt70 billion,” Thammasak said.

Roongrote said SCG’s financial results in the first half of this year was lower than initially estimated mainly because the price of petrochemical goods has dropped due to the appreciation of the baht, which is having a direct impact on its exports. The ongoing US-China trade war is also having a direct impact on the business.

SCG’s petrochemical business recorded a total revenue of Bt92.23 billion in the first half of the year, or 16 per cent lower than the same period last year. Profit for the period, without severance pay adjustment, dropped by 35 per cent year-on-year to Bt10.53 billion, and stood at Bt10.04 billion if severance pay is factored in.

Its packaging business recorded a 5 per cent dip in revenue year-on-year to Bt41.52 billion, due mainly to a demand for both soft and hard packaging. Profit for the period, without severance pay adjustment, showed a 2 per cent slump year-on-year to Bt3.05 billion, and Bt2.71 if severance pay is factored in.

Meanwhile, SCG’s building materials business made Bt94.23 billion in revenue, up 3 per cent from last year’s first half. Its net profit without factoring in severance pay showed a rise of 17 per cent year-on-year to Bt4.87 billion and at Bt3.91 billion if severance pay adjustment is taken into account.

For the rest of the year, the global economy is still expected to face unexpected risks due to the China-US trade war, as all signs point to further appreciation of the baht, while the price of oil continues to rise due to Iran’s crisis.

All these factors are expected to have an impact on the group’s financial results, Roongrote said.

Phonganant Thanattrai, Krungsri Head of Retail Banking and Distribution Group; said “Partnership branch is among various formats of Krungsri branches designed to cater specific demands of customers in different locations. The Partnership Branch @Assumption University is the first and the prototype of the university branch format. We designed it to match the demands and lifestyle of university students and faculty members on the campus and improved the entire space to fit into targeted customers’ daily routine to deliver a great customer experience and enhance customer engagement with Krungsri.”

The Partnership Branch @Assumption University is located in Assumption University, Suvarnabhumi Campus. Krungsri revamped the existing branch operating systems and processes with innovative digital technology and improved its space for campus people to enjoy extended utilization. The new space is divided into 4 zones including Branch service area, Auto banking area, Co-working space in relaxed ambience for students to work or relax in a free wi-fi space and and Multi-function room to accommodate meetings of professors or student gathering for tutoring or other activities.

Rev. Bro. Bancha Saenghiran, President of Assumption University, said that this collaboration is a fruitful extension to enhance the customer experience of the students and professors here. We are the first university for the partnership branch along with the effort to drive the growth of digital ecosystem in the campus. Krungsri’s financial services provided via our mobile application enables faster and more convenient financial transactions for students and faculty members.

Beside the new branch format, Krungsri makes its financial products and services available on ABAC’s mobile application to complete users’ digital lifestyle. With the application, students can register their study courses, check their class schedules and, they can now pay the tuition fee via the mobile banking service 24/7. Payment is more convenient with the tuition fee alert function while daily pay at the campus is easier with QR code or e-wallet function that offers loads of privileges and discounts.

KTC and Gunkul will provide privileges to KTC credit card members who install household rooftop solar panels under the brand “GRoof”. Participants may pay in instalments with KTC card at 0 per cent interest for up to 10 months. Alternatively, they could redeem for 12 per cent in discounts simply by making payments in full using KTC credit cards and their KTC FOREVER points equivalent to the amount of the transaction.

“KTC PROUD” cash card members may pay in KTC card instalments at 0 per cent interest for up to 20 months ‪from August 1, 2019 to October 31, 2019.‬

Thailand joins Australia, India and Indonesia in being chosen as one of the four target markets in the region to run this campaign based on the country’s readiness for digitalisation.

Connectivity is changing the food and beverage industry and offering unprecedented opportunities. The campaign launched by Tetra Pak was developed to raise awareness of the way digitalisation is redefining the role of packaging. The new Tetra Pak Connected Package platform turns packages into full-scale data carriers, allowing manufacturers to connect to consumers more directly, build loyalty, provide product information and find new ways to increase traceability. Through traceability in the processing industry, products will be able to be tracked at any point in the production chain – from field to table, all the way from the arrival of the raw materials and processing to being filled and safely sealed inside the packaging.

Digital technologies based on unique digital codes can give each and every product package a unique identifier. Data scanning devices – or even ordinary smartphones – will read these codes and link users to vast amounts of information, opening up all kinds of possibilities. And by creating an interactive channel, brands will soon be able to have real-time conversations with individual consumers. They will be able to share details on raw material sourcing and nutritional facts, provide environmental information and promote games and other interactive activities.

The new connected package will play an increasing role in both the digital supply chain and consumer experience. It will create an interactive one-to-one channel with individual consumers, providing limitless communication, marketing and data capture opportunities. Driven by the trends behind Industry 4.0, and with code generation, digital printing and data management at its core, the connected packaging platform will bring new benefits to food producers, retailers and shoppers.

“The future of packaging is undoubtedly digital, and this launch is a step towards a truly intelligent package. We are very excited to share this opportunity with our customers, and via this LinkedIn campaign we want to encourage them to learn more about Tetra Pak’s connected packaging platform,” said Supanat Ratanadib, Marketing Director, Tetra Pak (Thailand) Limited.

The initiative offers greater convenience and saves time for buyers, as they no longer need to go to a Bank branch or submit any documents.

Wirawat Panthawangkun, the bank’s senior executive vice president, says there are three insurance plans from which to choose.

1. PA Plus Value: Pay Bt1for premium per day, or just Bt365 per year, and receive Bt5,000 of medical expense reimbursement each incident (no incident limit), and up to Bt100,000 of life insurance benefits.

2. PA Plus Protection: Pay Bt3 for premium per day, or Bt990 per year, and receive Bt15,000 of medical expense reimbursement each incident (no incident limit), and up to Bt250,000 of life insurance benefits.

3. PA Plus Life Coverage: Pay Bt8 for premium per day, or just Bt2,800 per year, and receive Bt100,000 of medical expense reimbursement each incident, up to Bt500,000 of life insurance benefits and Bt2,000 of daily income compensation.

Wirawat said that the PA+ is a policy aimed at protecting Thais regardless of their income against damages caused by accidents. Thailand now has the highest number of road casualties in ASEAN, with 22,491 people dying in road accidents each year, or 60 persons a day on average; 74 percent of them are motorcyclists. Thai RSC Road Accident Data Centre said that a total of 532,900 road accident cases were reported from January to June, with 9,083 people dead from such accidents. In addition to road accidents, which are the most common accident type, Thai people also suffer from other accidents caused by slipping or falling. Such accidents may not be immediately fatal, but can cause serious injuries such as hip fractures – causing problems in body movement – and head injury.

These statistics also show that there is a high risk of being involved in an accident. However, only 30 per cent of the Thai population, or 21.8 million Thais, have personal accident insurance, with an average medical expense of Bt25,000-Bt50,000 per case. This suggests that Thai consumers overall do not give much importance to personal accident insurance, although it can help them manage risk and reduce expenses that may occur, such as medical costs, that are trending higher whether you receive treatment at a private or public hospital, or use your social insurance benefits. In some cases, personal accident insurance may help the insured cover all their expenses and receive medical treatment in a timely manner from the hospital located nearest the accident spot. Aside from daily compensation while being treated at a hospital, the policyholder may get compensation in the case of disability or accidental death per the conditions specified in the insurance policy. The premium is also fixed throughout the duration of the insurance contract, and will not be subject to any change as seen in other types of insurance, while prospective policyholders do not have to provide their medical history.

The company has a market capitalisation of Bt11.11 billion (about US$358 million) at its initial public offering (IPO).

SET senior executive vice president Manpong Senanarong said that ILM would list and start trading in the services industry group of the Commerce sector.

ILM is engaged in retail home furnishing, home decoration, household items and electrical appliance businesses. It caters to catering customer demand across all sectors under four brands: Index Living Mall, Trend Design, MOMENTOUS and BoConcept.

Currently, the company manages 36 branches in 21 provinces with 25 distributors in major cities and secondary provinces. The company also operates a network of retailers overseas through 17 agents and franchises in seven countries. In addition, the company produces original equipment manufacturer (OEM) products for overseas customers, while offering commercial space for rent under the brands The Walk, Little Walk and Index Mall in nine branches in Bangkok and major cities.

ILM has a registered paid-up capital of Bt2 billion, consisting of 400 million existing common shares and 105 million newly issued shares, with a par value of Bt5 each. It has offered the entire newly issued shares to the general public via IPO at Bt22 each. Of the newly issued shares, 66.7 per cent were allocated to institutional investors, 23.4 per cent to persons under the underwriters’ discretion, 4.5 per cent to persons related to the company, 4 per cent to benefactors and 1.5 per cent to employees during July 17-19, for a total of Bt2.31 billion.

Bualuang Securities is its financial advisor and lead underwriter, while SCB Securities Co Ltd, Capital Nomura Securities and Asia Plus Securities Co Ltd are the joint underwriters.

ILM managing director Kridchanok Patamasatayasonthi said the funds raised would be used to expand new branches of Index Living Mall and its small furniture stores, while developing new products for its customised furniture products under the Younique brand. The fund-raising would be used to invest in rooftop solar panels, improve factory efficiency and for other projects, as well as loan repayment to financial institutions and working capital.

After the IPO, ILM’s top three major shareholders of the paid0up capital are the Patamasatayasonthi family (73.3 per cent), the Udommahuntisuk family (5.7 per cent), and Nattinai Yuttapatsak (0.4 per cent). The IPO price was set by a book-building process, equivalent to a price-to-earnings ratio (P/E ratio) of 22 times, calculated by using the company’s net profit in the past 12 months divided by fully diluted shares of 505 million shares, representing earnings per share of Bt1.

The company’s dividend policy is to pay no less than 50 per cent of net profit after corporate income tax from the company’s consolidated financial statement and legal reserves. However, the dividend payout may differ from this policy subject to the company’s performance, financial liquidity and necessity of using working capital on operation management, future business expansion plans and due to the economic environment.

Eunjung Lee, senior vice president of global business at Line Corporation, said that Line had entered Thailand six years ago and it remained one of the company’s most important markets.

The firm has launched a strategy this year to tap Thai markets in three areas: online merging with offline (OMO), financial technology (fintech), and artificial intelligence (AI). The firm provides services accessed by an estimated 44 million Thai users.

With the OMO, it goes beyond simply linking online and offline. “It actually unites the digital and real world. By expanding the Line app beyond the online realm and into the offline, and creating a hub for both, the company intends to make the lives of its users even more convenient and comfortable,” said Lee. To help Thai businesses with OMO, the company is introducing the Line Mini App, offering a content management system for companies to help them better engage with their customers.

“We create new services based on the behaviour of users. Under the theme ‘Life on Line’, we believe our three key strategies can help fix people’s common pain points and make daily life more fun and convenient for all Thai users. Line is being more than a messaging app,” said Lee.

In the fintech area, the firm is moving forward to support a cashless society in Thailand as well as offer innovative banking services. Line operates Rabbit Line Pay to support Line Fintech services and is partnering KBank to revolutionise financial services. The fintech business, which operates under the management of Kasikorn Line since its launch in 2018, will see more products being introduced in 2020. Lee said users will be able to better understand their finances, access their credit information and invest safely in four areas: insights, borrowing, insurance, and investment to support a cashless society.

Meanwhile, AI-Line will continue to develop advanced, in-house AI technology, applying it to a wide range of services. For example, AI is helping personalise recommendation features for users as they navigate Line TV, the sticker shop, and ads. In addition, the new Line feature Smart Channel will utilise AI to bring sophisticated and personalised information to users, in a convenient box right at the top of their chat list, Lee said.

Line Thailand’s new CEO, Phichet Ruekpreecha, said that the firm has directions to enable digital transformation of government and provide new solutions as well as platforms to support business.

Phichet said that the firm in the near future will introduce new services such as Line Shopping that will allow users to search and compare prices as well as earn points. It will expand Line Man services to other major cities such as Chiang Mai, Phuket and Pattaya. Line Man delivery services currently cover Bangkok, Nonthaburi, Samut Prakan and Pathum Thani provinces. It also plans to launch Line Man grocery.

“Line Man plans to respond to surging user demand around Thailand and expand its operations to all major cities by 2020. Line Man is partnering Wongnai and Lalamove to provide even better services, including introducing a new eco-friendly initiative to reduce the use of plastic,” said Phichet.

Another upcoming service is Line Melody, which will allow Line Call users to use hit songs for their melodies and ringtones.

The firm will launch Smart Channel, a personalised information channel.

Line Thailand also unveiled a range of professional solutions geared for businesses, as well as the human relations and public sectors. “With the rise of the ‘Industry 4.0’ era, the Line ecosystem is growing as an important and effective tool for business, connecting brands with their customers and improving efficiencies,” Phichet said.

In Thailand today, there are three million Line Official Accounts (OA), with 1.3 million OA for retail business and 180,000 OA in restaurants. That success led to the development of Line OA Plus and OA Plus E-Commerce. “Those services will allow customers to purchase products directly through Line Official Account, without having to switch to other applications,” Phichet said.

Other new services include:

Slide ad – a new type of ad for Line Today that makes messages more attractive and engaging.

Smart Channel – offering a space for advertising on the top of the chat list, so marketers can send targeted messages to the right audience at the right time.

Line Idol – allowing pop stars to communicate and build relationships with their fan base more effectively. Line Idol currently features specialised channels for celebrities and bloggers, and has launched two additional categories — business and sport.

Line’s mobile payment platform continues to grow, said Phichet. There are six million accounts, four million credit/debit cards and five million e-wallets registered with Line.

Line Converge also saw the Line Thailand Awards taking place for the first time, recognising the best performers on the Line platform. Over 26 awards were given out in a wide range of categories, including tech, entertainment, automotive, retail, and the finance industry.

US President Donald Trump agreed on Monday to award licensing deals between American companies and Huawei in a “timely” way, according to media reports.

The agreement was reportedly reached after a meeting at the White House with American tech giants Google, Qualcomm, Intel, Cisco, Broadcom, Western Digital and Micron Technology, which“requested timely licensing decisions from the Department of Commerce, and the president agreed”, said the White House.

The US president has seemingly performed a U-turn on his position on Huawei, as trade talks between the US and China resumed.

In a recent interview with the Financial Times, Ren said that Huawei would learn from its current experience with the US, and while his company was still willing to buy from US suppliers, it would ultimately look to reduce its dependence on American components.

“President Trump’s statements are good for American companies. Huawei is also willing to continue to buy products from American companies. But we don’t see much impact on what we are currently doing. We will still focus on doing our own job right,” he said.

In terms of 5G, Ren said there won’t be any problem with Huawei’s supply. “Our 5G equipment is the best in the world. No other companies will be able to catch up within two to three years. Supply won’t be a problem. Our production lines are working flat out these days,” he told the media.

Huawei, the world’s leading telecommunication equipment supplier and the second-largest smartphone manufacturer, has signed over 50 5G commercial contracts, and shipped over 150,000 5G base stations around the world.

In Thailand, Huawei has been collaborating with the Digital Economy and Society Ministry, and other government offices and partners on the first 5G Testbed project in the country.

“The 5G Testbed project in Kasetsart University, Sri Racha campus, is in line with the government’s policy to accelerate Thailand’s digital-economy transformation,” said Huawei Thailand spokesperson Deng Feng. “Together, we can all cooperate to bring the best 5G network to Thailand, help the transition to 5G technology and transform the industry, so we can connect people for a better quality of life.”

On August 7, Huawei will hold an IoT Industry Summit in Bangkok, Thailand. The Internet of Things, a significant part of 5G, has the potential to be the engine to push forward Thailand 4.0 across the areas of Smart City, Smart Industry and Smart Life.

“We want to satisfy society and people, because our ultimate goal is to serve our customers. Who are our customers? 6.5 billion people, and possibly more in the future for more IoT connections. Therefore, we are committed to creating value for customers and ensuring we satisfy people’s needs,” said Ren.

The MoU was signed on Thursday (July 25) by Teleport CEO Pete Chareonwongsak and Triple i Logistics CEO Tipp Dalal, with AirAsia Thailand and AirAsia X Thailand as potential customers of the joint venture.

The joint venture is expected to be operational by January 1, 2020

“Teleport is on a mission to move goods and e-commerce seamlessly throughout Southeast Asia, taking full advantage of AirAsia’s network of more than 100 cities and 10,000 weekly flights across Asia Pacific,” its CEO Pete said. The integration of AirAsia Thailand and AirAsia X Thailand’s belly space completes Teleport’s first milestone to bring all AirAsia group airlines together as one, he said.

“We have the widest and strongest network in Asia, covering 35 of the region’s top 50 cities. With our infrastructure, we intend to open this to both individuals and companies, enabling them to transport anything they want both quickly and painlessly.”

Triple i Group CEO Dalal said, “Triple i has earned the trust to manage air cargo services on behalf of AirAsia Thailand and AirAsia X Thailand for 10 years. The airline’s network has grown to more than 2,200 weekly flights across seven hubs, including from Don Mueang International Airport, its main hub in Thailand.” He said AirAsia and Teleport both share Triple i’s vision to develop and grow demand for air cargo services, a sector which is constantly evolving, especially when it comes to e-commerce.

“Through this joint venture, we will be able to create new and innovative logistics solutions, combining the strengths and expertise of all partners. This is a reflection of our strong and long-standing business relationship and our goal to become the leading air logistics business in the region,” Dalal said.

Founded in 2018 and formerly known as RedCargo Logistics, Teleport Commerce Malaysia Sdn Bhd is a wholly-owned subsidiary of AirAsia Group Berhad, building out the cargo and logistics ambitions for AirAsia.

Bangkok Land Public Co Ltd (BLAND) has achieved its financial targets, Sui Hung (Peter) Kanjanapas, vice chairman and executive director, will tell the 2019 annual general shareholder meeting on Thursday and announce a dividend payment of Bt0.09 per share, which is the same as that of the previous year.

The recommended dividend will be proposed for shareholders’ approval to the 47th shareholder meeting on July 25. Despite the ongoing global economic weakness that consequently led to the slowdown in various sectors of the Thai economy, the company achieved stable growth through its high determination and management expertise, Sui Hung will tell the meeting.

Over the past year, the unit trust of IMPACT Growth Real Estate Investment Trust, was held by IMPACT Exhibition Management Co Ltd for 741,250,000 units, with recorded at the cost net of Bt10.60 per unit, a total value of Bt7.857 billion in this present annual report. As of March 31, 2019, the unit market price per unit closed at Bt21.60 per unit, or an increase of 103.8 per cent. The company has also entered into additional agreements on land sales (Srinakarin) with unrelated parties, totalling Bt14.997 billion. The lands which were already transferred totalled Bt11.032 billion, with the remaining to be transferred with a value of Bt3.965 billion baht.

For the fiscal year ended March 31, 2019, the group reported a consolidated recurring operating profit of Bt1.356 billion and a net profit after non-recurring items and tax of Bt1.816 billion.

BLAND reported outstanding performance in 2018, with the successful launch of phase one of Cosmo Bazaar lifestyle shopping mall. Phase two of Cosmo Bazaar was opened in the first quarter of 2019 and it has been successful, with 100 per cent occupancy of retail space. The additional retail space includes a five-screen cinema by SF Cinema, a large scale 24-hour supermarket by AEON Maxvalu, a 24-hour fitness centre by Jetts and many well-known restaurants and shops. The success of Cosmo Bazaar has in turn increased land values in the surrounding areas and the demand of residential properties and office spaces nearby.

BLAND will continue to explore opportunities to expand its business, especially in the Muang Thong Thani area. The company believes that the unique development synergy it has created in Muang Thong Thani over the years has proven it to be on the right path, said a media release from the company on Thursday, and it will strive to further develop Muang Thong Thani to fruition.

“Under the current uncertain economic and political environment, I expect a difficult year ahead for the Thai economy. However, with our debt free and strong financial position, in additional to the continued strength of our businesses, Bangkok Land will withstand pressures and challenges that may be posed by the political turmoil and slowing economic activities,” said Sui Hung.

“In the year ahead, we will continue to further strengthen our existing positions and operations.”