Grab signs MoU with NIDA to drive technology

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Grab signs MoU with NIDA to drive technology

Corporate March 29, 2019 17:43

By The Nation

Grab Thailand have signed a memorandum of understanding with the National Institute of Development Administration (NIDA) to drive technological advancement through collaboration on education and academic research.

A press release on Friday said that under the MoU, Grab Thailand and NIDA will work together to exchange and enhance knowledge sharing as well as academic studies covering a wide range of topics including society, economy, transportation, tourism – which align with national policy and plans for the development of digitality that will benefit all aspects of the nation.

The cooperation also aims to cultivate integrated learning methods in tandem with the digitised world.

The signing ceremony took place during NIDA’s 2019 national conference titled “Thailand Transformation for Sustainable Growth”, which also marked the Institute’s 53rd anniversary.

Professor Dr. Kamphol Panyagometh, NIDA president, said: “This is another important milestone for NIDA as it enhances knowledge sharing with Grab Thailand, a leading technology company that is unparalleled in terms of data, innovations and state-of-the-art management systems.

“The collaboration will drive knowledge sharing to its maximum capacity whether in class, research or in workshops. By unlocking the full potential of technology, we can also improve our human resources in response to the demands of the digital era and drive the economy, society and the country forward to further development and sustainable competitiveness on the global stage.”

Tarin Thaniyavarn, Country Head of Grab Thailand, said: “Together, through the exchange of learning, data insights, innovations and first-hand experience from our executives, we will support the technological advancement of Thailand.

“Grab is SEA’s leading super app and technology company which is well-positioned to provide support to NIDA both in terms of education and academic research. Most importantly, this cooperation also supports the government’s policy to promote the use of technology for national development in areas related to society, the economy, transportation and tourism.”

Tansimex deal expands JWD’s business in Asean

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Tansimex deal expands JWD’s business in Asean

Corporate March 29, 2019 17:38

By The Nation

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JWD InfoLogistics, or JWD, has completed a deal to hold 23.66 per cent of the shares of Transimex Corporation, the 3rd largest integrated logistics service provider in Vietnam.

The company said in a press release on Friday that it received the right to hold one seat on the Board of Directors of Transimex and can expect to see profit sharing from its investment starting from the second quarter of 2019, which will support its performance this year.

JWD said it is confident in the overall outlook of the logistic industry in Vietnam over the next five years since it shows a trend for continuous growth, Charvanin Bunditkitsada, Chairman of the Executive Committee and CEO of JWD, said.

He added that Asean top specialised supply chain solutions, revealed that the Board gave approval for JWD Asia Holding Private Ltd., a subsidiary in Singapore, and Prosper Logistics Joint Stock Company, a subsidiary in Vietnam, to purchase 23.66% of shares in the Transimex Corporation.

Transimex offers an integrated service that provides land, water and air logistics in Vietnam. It is registered in the Ho Chi Minh Stock Exchange and has assets worth that places it among the top 500 firms in the country.

An investment of Bt527.4 million (or about 390 billion Vietnamese dong) was made and the shares have already been transferred.

JWD also received the right to hold one position in the Board of Directors of Transimex Corporation. This was a big and important investment which will expand JWD’s business to cover nine countries in Asean within the year.

The investment is expected to benefit JWD’s performance this year as it will start to receive profit sharing according to the shareholding ratio in Transimex Corporation from Q2/2019.

At present Transimex is the third largest integrated logistics service provider in Vietnam which last year earned revenues of around Bt3 billion  and a net profit of Bt300 million.

Mida Leasing rated at ‘BBB-‘

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Mida Leasing rated at ‘BBB-‘

Corporate March 29, 2019 16:51

By The Nation

Thai Rating and Information Services (Tris) has affirmed the company rating on Mida Leasing PLC (ML) at “BBB-”.

In a press release on Friday the company said the rating reflects a capital base that is adequate to support business expansion and absorb losses from any adverse changes. However, the rating is constrained by deteriorating asset quality and an increase in liquidity risk.

Profitability has weakened in past years but should remain relatively stable over the next few years.

ML’s market position in terms of outstanding loans remains weak compared with peers but is likely to expand gradually.

Meanwhile, intense competition in the auto financing industry continues to put some pressure on loan expansion and profitability.

CIMB Thai CEO extends leave of absence

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File photo : Kittiphun Anutarasoti
File photo : Kittiphun Anutarasoti

CIMB Thai CEO extends leave of absence

Corporate March 29, 2019 15:26

By The Star
Asia News Network

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KUALA LUMPUR: The president and CEO of CIMB Thai Bank PCL Kittiphun Anutarasoti has extended his voluntary leave of absence by two months.

“CIMB wishes to announce the extension of the voluntary personal leave of Mr. Kittiphun Anutarasoti and the term of Encik Omar Siddiq as the Director and Acting President/CEO of CIMB Thai for another two months, from 1 April 2019 until 31 May 2019,” the banking group said in a stock exchange filing.

On Jan 16, it was announced that Kittiphun was “taking voluntary personal leave from all his positions in CIMB Thai and CIMB Group, due to personal reasons”.

It was reported that the reason for the leave was so Kittiphun could fight allegations of misconduct and fraud during his tenure with his previous employer, Krungthai Bank.

Omar Siddiq, CIMB group chief operating officer, has been taking over his duties as acting president and CEO of CIMB Thai in the interim.

CP Foods awards suppliers

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CP Foods awards suppliers

Corporate March 29, 2019 14:47

By The Nation

Charoen Pokphand Foods (CP Foods) recently held its first-ever “Supplier Sustainability Award” ceremony, praising suppliers for their responsible operations that help both parties achieve sustainable growth together.

The company said in a press release on Friday that the award ceremony was held as a part of “CPF Capacity Building for Partnership Conference 2019”. It was participated by over 200 suppliers and honourable guests from the Department of Labour Protection and Welfare.

The company said it gave the awards to suppliers that make outstanding contributions to the company’s responsible value chain, reinforcing its commitment to social and environmental sustainability.

Pisit Ohmpornnuwat, chairman of Sustainable Supply Chain Committee of CP Foods, said the company has been working with partners to develop its value chain in line with CP Foods’ the Sustainable Sourcing Policy and Supplier Guiding Principle as well as the UN’s Sustainable Development Goals.

The scope of cooperation covers four main areas, including product and services’ traceability, fair treatment of employees and human rights, environmental-friendly process, and verifiability performance and risk management.

Huawei reports net profit increase of more than 25%

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Huawei reports net profit increase of more than 25%

Corporate March 29, 2019 14:22

By The Nation

2,269 Viewed

Huawei released its 2018 Annual Report on Friday showing its sales revenue rounded off at CNY721.2 billion (Bt3.412 trillion), up 19.5 per cent year-on-year and its net profit reached CNY59.3 billion, up 25.1 per cent year-on-year.

The company said in a press release on Friday that in 2018, Huawei invested CNY101.5 billion (14.1 per cent) of its sales revenue) in R&D, ranking fifth globally in The 2018 EU Industrial R&D Investment Scoreboard.

Over the last 10 years, Huawei’s R&D expenditure has reached more than CNY480 billion.

According to official data released by the World Intellectual Property Organisation (WIPO), Huawei filed 5,405 patent applications to this organisation in 2018, ranking first among all companies globally.

At the release of its annual report, Guo Ping, Huawei’s Rotating Chairman, said: “Information communications technology is rapidly working its way into every industry. This has triggered a digital, intelligent transformation – the driving force behind our digital economy.

“Through heavy, consistent investment in 5G innovation, alongside large-scale commercial deployment, Huawei is committed to building the world’s best network connections.

“Throughout this process, Huawei will continue to strictly comply with all relevant standards to build secure, trustworthy, and high-quality products. As we work towards this goal, we have been explicitly clear: Cyber security and user privacy protection are at the absolute top of our agenda. We are confident that the companies that choose to work with Huawei will be the most competitive in the 5G era. And countries that choose to work with Huawei will gain an advantage for the next wave of growth in the digital economy.

“The easiest way to bring down a fortress is to attack it from within. And the easiest way to reinforce it is from outside. Moving forward, we will do everything we can to shake off outside distractions, improve management, and make progress towards our strategic goals.

“We will continue to strengthen operational compliance, ensure business continuity and sustainability, and cultivate an open ecosystem where all players collaborate and prosper together. In addition, we will continue our organisational transformation to inspire greater passion and vitality across the organisation.”

JD Central donates Bt100,000 to Ramthibodi Foundation for female cancer patients

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JD Central donates Bt100,000 to Ramthibodi Foundation for female cancer patients

Corporate March 29, 2019 14:21

By The Nation

2,412 Viewed

JD Central, the leading e-commerce technology and retail business in Thailand, and three famous Thai artists have presented a donation of Bt100,000 from “Joy of Giving” charity to Ramathibodi Foundation to ensure female cancer patients receive better treatment for a better quality of life.

In the event, JD Central was represented by Rvisra Chirathivat, chief marketing officer (2nd left) together with three famous Thai artists; Watsak Chirathivat (far left), Anothai Niruttimetee (2nd right) and Kantaphon Metheekul (far right).

The Ramathibodi Foundation was represented by Assistant Professor Thongchai Bhongmakapat, Committee  and Treasurer of The Executive Committee of Ramathibodi Foundation (middle).

The charitable event was held in supporting of breast cancer and cervical cancer patients so that they have better treatment for a better quality of life.

THAI Smile and Audrey Café launch Songkran festival’s menu

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THAI Smile and Audrey Café launch Songkran festival’s menu

Corporate March 29, 2019 14:10

By The Nation

2,282 Viewed

THAI Smile Airways welcomes the upcoming Songkran Festival with a dessert menu to cool off the hot summer days with the creation of a famous dessert shop, Audrey Café, offering two special fusion dessert menus to serve on THAI Smile’s flights, according to the airline’s press release.

These menus include Mango Sago Panna Cotta and Marian Plum Panna Cotta, available both domestic and international routes only on April 13-17.

Nednapang Teeravas, chief customer service officer of THAI Smile Airways revealed that THAI Smile

is committed to delivering excellence services beyond customer’s expectations as always, in order to

emphasize as a full service airline with outstanding service, whether it be our in-flight meals and beverages,

seat selection and free baggage allowance.

“In addition, we will provide in-flight meals and beverages to all passengers for free on all flights. What is known as our identity, which passengers will receive in various festivals is a special menu that will be tailored from partner more than 10 occasions throughout the year.”

“For Songkran Festival this year,THAI Smile would like to say a Happy Thai New Year with freshsweet dessert

menus that THAI Smile has partnered with Audrey Café to craft a Panna Cotta menu, a unique Italian dessert,

which is creamy, soft, sweet and tender mixed with Thai summer fruits like Nam Dok Mai Mango and Marian

Plum that are popular among Thais and foreigners.

Two special menus include Mango Sago Panna Cotta and Marian Plum Panna Cotta. If any passengers plan to travel during this Songkran Festival, please try to taste the menu that we intend to give to all passengers throughout this special occasion,” Nednapang said.

Janista Charoonsmith, chief executive officer, Audrey Group Inc. said “Audrey Café is pleased to be

selected to create a special menu by bringing seasonal fruits of Thailand, both mangoes and Marian Plum

as the main raw material.

Audrey Café offers a famous and popular menu in the shop that is Panna Cotta, which is tailored and crafted to create a new menu that has sweet taste with 2 special menus: Mango Sago Panna Cotta and Marian Plum Panna Cotta These 2 menus are ready to cool off all passengers on board THAI Smile. Audrey Café would like all passengers to enjoy the special menus throughout the Songkran festival,” according to the press release.

Long-haul carrier eyes lift in revenue, passengers

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Long-haul  carrier eyes lift in revenue, passengers

Corporate March 29, 2019 01:00

By   SIRIVISH TOOMGUM
THE NATION

LONG-haul budget carrier Thai AirAsia X has targeted revenue of around Bt15 billion this year, up from around Bt9.5 billion last year, chief executive officer Nadda Buranasiri said yesterday.

It expects to carry 3 million passengers this year, up from around 2 million last year.

The carrier will boost the number of its aircraft to 14 this year, up from 9 last year.

Thai AirAsia X has affirmed its extensive coverage of Japan by adding a four-times a week direct service from Bangkok’s Don Mueang airport to Fukuoka, the gateway of Kyushu.

Nadda said Japan is a strategic market for Thai AirAsia X and has been performing well. Even with flights across all regions of the country, Thai AirAsia X has continued to seek out new routes to offer new experiences to Thai travellers and attract more Japanese visitors to the Kingdom.

Thai AirAsia X has been flying to Japan for almost five years, beginning with Tokyo and Osaka. The carrier then added Sapporo and Nagoya last year and now Fukuoka as its fifth route. Nadda said the new route is in line with the rising number of Thai travellers to Japan.

“We still see much growth potential in the Japanese market and are hopeful that Fukuoka will further bolster tourism and the economies of both Thailand and Japan,” Nadda said.

Thai AirAsia X recognises the city of Fukuoka in Fukuoka prefecture as a high-potential destination as it is the largest city on the island of Kyushu in southern Japan and a hub of culture, cuisine and natural tourism destinations.

Thai AirAsia X flies to nine cities in four countries (including to Fukuoka) with direct flights from Bangkok (Don Mueang airport) to Seoul in South Korea; Tokyo, Osaka, Sapporo, Nagoya and Fukuoka in Japan; Shanghai and Tianjin in China; and Brisbane in Australia.

With its latest route addition, Thai AirAsia X is offering members of its loyalty programme AirAsia BIG the opportunity to book flights from Bangkok (Don Mueang)-Fukuoka, available four times a week, at a promotional one-way price from Bt2,990, including taxes and fees. Members must book by April 14, for travel from July 3 to October 26.

Nadda said that this year the carrier would also focus on opening more routes to secondary provinces in Japan and China.

KRUNGSRI Bank to become main funding source for SMEs

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KRUNGSRI  Bank to become main funding source for SMEs

Corporate March 29, 2019 01:00

By The Nation

Bank of Ayudhya’s (Krungsri) SME Banking Group has announced its business direction for this year, going ahead with plans to become the main operating bank for SME customers through collaboration with Mitsubishi UFJ Financial Group (MUFG) as well as enhancIng business opportunity for Thai entrepreneurs.

By leveraging MUFG’s global network, Krungsri aims to increase the flexibility and efficiency of executing international trade transactions for SME customers. Focusing on the quality of growth with rising revenues and deposits, Krungsri expects to provide Bt7 billion worth of new loans for trade finance in 2019, Sayam Prasitsirigul, Krungsri Head of SME Banking Group, said,

In 2018, loans for medium-sized and small-sized SMEs grew 16.6 per cent, outpacing the industry average. The main drivers were the growth of new loans, loans for supply chain and trade finance, while average low-cost CASA and foreign exchange fees also increased significantly. On the asset quality, non-performing loan (NPLs) for the SME segment decreased from a year earlier to 3.8 per cent, lower than the industry average, he said.