The company, however, has decided to maintain its Bt60 billion investment budget for this year for all investment projects underway or in process, including its petrochemical venture in Vietnam, Roongrote said at a press conference yesterday.

“We cannot say how much we will revise down our total revenue growth for this year. We have to see our financial results in the second quarter before revising our revenue target, which was forecast to grow up to 5 per cent this year. However, we accept that our total revenue growth this year will be lower than our estimated growth,” he said.

Last year, the company reported total revenue of Bt478.438 billion, up 6 per cent over 2017. But the net profit of Bt44.748 billion was down 19 per cent year on year.

The company announced a net profit of Bt11.66 billion for the first quarter, a 6-per-cent drop year on year.

“Our total revenue and net profit in the first quarter of this year dropped as the raw material costs in the chemical industry rose, while the rise in the prices of chemical products did not keep pace. This directly impacted our chemicals business, which offers a price in keeping with global demand,” Roongrote said.

Domestic demand drop

In the domestic market, meanwhile, the cement and building materials business along with the packaging business were also impacted when domestic consumption dropped in the first quarter of this year, and is also likely to drop in the second quarter. As a result, the group has to revise its revenue target and lower its estimates, he said.

However, Roongrote is confident that domestic demand will improve in the second half of this year.

Following the market trend, the company has tried to maintain its net profit growth by managing its production costs and also improving work efficiency. This is the way to maintain net profit when the company cannot control product prices, especially those of chemical products whose prices are determined by global demand, Roongrote said. He added that in the cement and building materials, and the packaging business, the group focuses on developing more value-addition through research and development of innovative products, and that could add about one per cent to its total revenue.

“This is the way to do business at this time, when product prices in the global market are fluctuating” he said.

Of its Bt112.37 billion total revenue, up to Bt46.24 billion came from the chemicals business, down 13 per cent year on year, with net profit in the first quarter of Bt6.10 billion, down 25 per cent year on year.

The cement and building materials business accounted for Bt48.31 billion revenue in the first quarter, up 4 per cent year on year, with a net profit of Bt3.04 billion, up 22 per cent in the period.

The remaining Bt21.12 billion of the first-quarter revenue came from the packaging business, a 4-per-cent drop from 2018, with a Bt1.68-million net profit, up 11 per cent year on year.

Up to 24 per cent of the group’s total revenue came from Asean countries, with 15 per cent coming from other countries.

Taokaenoi Restaurant and Franchise has won the exclusive management licence in Thailand for Hinoya Curry, a Japanese restaurant and championship award winner at the Kanda Kurry Grand Prix in 2013.

The company in February opened the first branch at The Market Bangkok on Ratchadamri Road in the Pratunam area, the first branch outside Japan. The restaurant distinguishes itself through authentic, flavourful curry with almost 30 kinds of toppings, while also serving various special menus for Thai foodies.

“To continue our ‘food innovation’ concept, the company has been awarded the exclusive right for the Hinoya Curry franchise in Thailand,” said Itthipat Peeradechapan, CEO of Taokaenoi Restaurant & Franchise Co Ltd, an operator of “Taokaenoi Land”.

 “The brand stands out through the concept of ‘filled to the brim with curry sauce’. The special recipe spans three generations under the slogan, ‘Champion of curry rice’.”

Hinoya Curry is a famous Japanese Curry Rice Restaurant originating in Yushima, Tokyo in 2011. Although the restaurant was not at a busy location, Hinoya Curry boasted excellent sales performance and always had long queues of customers. From that first small restaurant, it has grown rapidly, thanks to the power of word of mouth.

Kaspersky Lab offers protection service covering blockchain, crypto

Kaspersky Lab has launched new service packages designed for businesses working in the blockchain industry and crypto economy. Token offering (ICO/STO) projects and cryptocurrency exchanges are now offered tailored services, such as “smart contract code review”, “application and website security assessment”, security awareness training, protection against “phishing”, and incident response. In addition to these services, Kaspersky Lab also provides crypto exchanges with fraud and money-laundering prevention and targeted attack detection.

The blockchain industry and cryptocurrency market have been rapidly developing and now constitute a significant share of the global economy. The total market capitalisation of digital currency is estimated to be $362 billion and, according to PwC, more than $19.7 billion (Bt628.7 billion) was collected through ICOs in 2018.

Even though blockchain was initially seen as a secure technology, there are now various threats and cybersecurity risks around the crypto economy. In the last two years, Kaspersky Lab experts have become aware of phishing copies of a popular ICO websites, targeted attacks on crypto exchange companies, adware intended to steal cryptocurrency, and other attack vectors.

Two more round-the–clock facilities in Pattaya

Jetts 24 Hour Fitness has invested Bt80 million in two new clubs in Pattaya. The new facilities, at Royal Garden Plaza and Little Walk, cover a total area of 1,500 square metres and are an attempt to bring the round-the-clock “workout on your terms” solution closer to consumers while expanding its portfolio as a fitness chain across Thailand.

Marking Jetts’ first expansion outside Bangkok, the latest club openings in Pattaya add to the fast-growing chain’s reach around the country and are part of its plan to have two dozen clubs up and running in Bangkok and the provinces by the end of 2019, Mike Lamb, Asia chief executive of Jetts 24 Hour Fitness, said on Monday.

He added that like Bangkok, Pattaya has plenty of 24/7 activity with supermarkets and other facilities employing an abundance of shift-workers.

The campaign is valid for both economy and business class and flights to Phnom Penh, set to launch on June 1, are also included in the promotion.

Emirates customers who purchase tickets from Friday until May 17, 2019 will be able to take advantage of Emirates’ special summer return fares, which are valid for outbound travel until December 31, 2019.

Planning ahead allows travellers to book and enjoy savings on their 2019 leisure and business trips.