The deal, worth $2.1 billion ( Bt67 billion) was reported to the Stock Exchange of Thailand late on Thursday and was struck through the purchase by PTTEP’s subsidiary company, PTTEP HK Offshore Ltd, of equity in two subsidiaries of Murphy; Murphy Sarawak Oil Co Ltd (Murphy Sarawak) and Murphy Sabah Oil Co Ltd (Murphy Sabah).

Those two Murphy companies currently hold 5 projects: 2 producing, 1 development and 2 exploration projects ¬- with total estimated proved and probable reserves (2P) of approximately 274 million barrels of oil equivalent (BOE), according to working interest.

The total net sales volume in 2018 was 48,000 barrels of oil per day (BOED), comprising 62 per cent liquids.

Murphy is the operator of all the oil exploration assets in Malaysia, except the GK field in Sabah K Project, which is operated by Shell.

The transaction is subject to customary net working capital and closing adjustments, plus an additional maximum payment of $100 million contingent upon discovery of a significant threshold of oil in the SK405B Project.

PTTEP plans to fund the acquisition with available cash. Completion of the transaction is subject to the usual conditions, including necessary regulatory approvals as prescribed in the agreement, with an expected closing date by the end of the second quarter of 2019. After the completion PTTEP will work together with Murphy to ensure a smooth business transition and continuity of safe operations under the same experienced personnel.

The acquisition of Murphy’s business in Malaysia strategically fits with PTTEP’s “Coming Home” strategy, focusing on the Asean region.

This diversified self-funded portfolio will add a mix of production, development and exploration assets that will achieve three goals: secure PTTEP’s position as a major oil and gas producer in Malaysia, create operational synergy with the company’s existing Malaysia assets and reinforce its strong partnership with Petronas.

It is also expected to provide an opportunity for PTTEP to enhance its deep-water capability to support future deep-water developments, the company’s president and chief executive officer Phongsthorn Thavisin said in his report to the SET.

“If I had not joined Skills for Life … I might still be living in my village or be married, and not had the opportunity to learn how to do business and how to improve my life by studying at university,” Donnapa said in a recent interview with The Nation.

Skills for Life foundation was launched by Dominique Leutwiler when she went to Chiang Mai in Thailand’s North a decade ago.

Leutwiler says the idea behind the foundation is how to use the social space to build the work skills needed by teenagers – especially those living among the hill tribes in the North – so that they can do whatever they want when they graduate from primary school. From that idea, she launched the foundation in 2015 to share the knowledge and build the skills required for bake and produce coffee and craft products. The kicked off the first year with seven children and has seen the programme grow to 27 child members.

Bosch Thailand was attracted to the practical idea of supporting underprivileged hill-tribe youth as they built their vocational skills and increased their self-reliance in preparation for a career. Bosch was joined by the Fine Arts Faculty at Chiang Mai University, which saw in the practical programme a dynamic vocational development project able to help build a sustainable future for disadvantaged young people.

From running a bakery and coffee shop, the group went on to create crafts, Leutwiler said. In particular, they mastered the production of the “Botlight”, a chandelier made from discarded bottles. The students worked with the university’s Fine Arts faculty to design the botlight and its packaging.

“Botlight got positive feedback from the market, with the sale of up to 500 of them from last year till now,” said Leutwiler. “This has inspired them to redesign and develop other products, and this is a part of what we do to create jobs for the teenagers who join the foundation.”

Sumanatsya Voharn, a lecturer in the Design Division, Faculty of Fine Arts, Chiang Mai University, has spearheaded the project.

“These young students managed to step out of their comfort zones to learn how to expertly use craftsman’s tools, especially the female students,” Sumanatsya said. “They are confident, imaginative and take pride in the fact that they are creating their own work.”

The Botlight has become an icon of the foundation’s success as it turned discarded bottles into stunning chandeliers. The hill-tribe youth and their partners created this practical – and well-designed lamp – and it has brought a sense of pride. The recycled bottles are collected from five-star hotels in Chiang Mai. Using their spare time after school, the teens divided up their tasks in separating, cleaning and drying the collected bottles, then installing electrical wiring and wood panelling, before finishing each product and preparing them for delivery.

The Botlight has received praise and compliments since being unveiled, and sales have helped increase the incomes of hill-tribe youth while reducing the foundation’s expenses, Sumanatsya says.

Nuttapong Udomwiriya, a young hill-tribe man who is studying science, said, “I have a soft spot for the jigsaw tool because I am passionate about wood carving. However, I need more practice to improve my carving skills. It requires a lot of patience. Another hard part is properly removing the labels and adhesives from wine bottles but I am learning all the time, which is important.”

Aem-on Nikhomkhiri, a hill-tribe student now studying organisational psychology, said, “The Botlight is my debut work. I am passionate about crafts, particularly traditional wood polishing and finishing techniques, which involve learning how to choose the right type of wood to support the wine bottle. I am glad that I eventually grew confident in mastering power tools and I cannot wait to produce and sell my own designs to raise money for my future.”

Kabir said in an exclusive interview with The Nation that Myanmar plays a key role in the company’s strategy for expansion in emerging markets in Asia.

“Myanmar is an important market for us because we have witnessed the technology adoption here which is much faster than some of the other countries I manage,” she said.

“More importantly, the customers in Myanmar are very sophisticated. They are willing and curious to learn more about what technology can do to help them grow.”

According to the executive, a lot of big players in the banking and construction sectors have been using Microsoft’s products and offerings, and education, health and agriculture are the most promising sectors that will drive the company’s growth in Myanmar.

“We are actually very encouraging to see how companies in Myanmar are willing to embrace the digital transformation journey with us. We are seeing a lot of interest, and are very excited about what we see here,” she said.

“We are targeting the private sector a lot, and are also talking to the government.

The journey begins with where you are now, and where you want to be.

The government is actually very engaged with Microsoft, and we are really happy with our engagements. We are talking about offering products and services to the government, and they are receptive to our ideas. Hopefully, good news is coming soon”, she said.

According to Kabir, the company is in the stage of finalising its discussions with the government.

“I am very pleasantly surprised and happy to see how Myanmar is embracing technology. We have big companies as our customers. We have banks, we have the government, and we have groups of companies that are all engaged with Microsoft on digital transformation,” she said.

This week, the company officially launched its Microsoft 365 (M365), a cloud offering service combining licences for Office 365, Windows 10 and Enterprise Mobility and Security to deliver a cost-effective, more convenient solution for businesses. By enabling the turnkey solutions in their workplaces, businesses in Myanmar can enable their employees to be more creative, efficient, productive and collaborative in a secure environment, she said.

“We see that there is a huge return of investment for the companies that invest in M365. We have different pricing for different levels and different organisations. It depends on the configuration,” she said.

During the interview, Kabir stressed the importance of digital transformation for Myanmar, and the impact this will have for the nation’s growth. She said the company is not worried about piracy.

CopyrIght enforcement

“Previously, we had a strategy of enforcing copyright, going after those who are not using licensed softwares. But, we have changed our strategy. We are no longer worried about piracy, as businesses come to realise that investing in digital [platform] leads them to an increase in productivity,” she said.

Yet, she called for awareness-raising activities to ensure Myanmar people clearly know the difference between genuine and pirated software.

Microsoft is among a few technology giants that has established a local office in Myanmar. Kabir said it created a lot of jobs for locals, and the firm would continue growing its team in Myanmar.

“We have put our presence legally in Myanmar, and will continue growing. Employment grows when business grows. We hope to expand here as our business becomes progressive,” she said.

As part of the Singapore-based company’s ambitions for the region, it expects to achieve revenue growth in the double digits in Thailand.

The operator plans to improve its engagement with sellers and customers via a new platform, Super – Solutions, to keep pace with the demands of the market.

Pierre Poignant, chief executive officer of Lazada Group, said Google-Temasek e-commerce SEA, in projecting that the region’s internet economy would reach US$240 billion, reported that the e-commerce market would make up around US$102 billion of the total, followed by online travel with US$78 billion, online media US$31 billion and ride hailing US$29 billion.

For e-commerce by 2025, the top markets would be Indonesia, worth US$53 billion, followed by Vietnam on US$15 billion and Thailand US$13 billion.

Poignant said Southeast Asia is a highly diverse region as well as being a global social hotspot, with social media being a way of life.

Around 60 per cent of Southeast Asia’s Internet users purchase online and 33 per cent of online purchases go though social media or social commerce.

In Thailand, the internet reaches 82 per cent of the population. Around 51 per cent of online users in Thailand make purchases on social media.

“We have our seventh birthday celebration on March 27. Our goal was to create a one-stop shop for the region for both consumers and sellers or brands,” Poignant said. “We launched Lazada in Southeast Asia as the region is a very attractive opportunity.

“Temasek estimates the market growth will be 40 per cent year on year for the next five to seven years to reach US$102 billion. Most of these rosy stories were always followed by logistics, payments, customers trust and assortment.”

He said the company will build up its growth in Southeast Asia, including Thailand, by continuing to invest in infrastructure and to build an e-commerce platform and engine.

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For infrastructure, the firm will continue invest via three core areas – technology, logistics and payments – in order to lead in the region.

For the task of building an e-commerce platform and engine, the firm has come out with Super – Solutions. Poignant said this platform would accelerate the business growth and enable entrepreneurs to become a Super eBusiness. The Super – Solutions platform allow brands and sellers to select tailored solutions that offer them assistance in branding, marketing and sales, as well as the ability to supercharge their business, he said.

“We have the all-encompassing super-solutions, data, logistics, technology and expertise. We also have the backing of the whole Alibaba ecosystem,” said Poignant.

He said that Lazada by 2030 would serve 300 million consumers, creating 20 million jobs in Lazada’s ecosystem and cultivating eight million successful entrepreneurs and small and medium-sized enterprises.

Jing Yin, president of Lazada Group, said that as part of the plan for double-digit revenue growth in Thailand, the country’s position as a strategic market would be further developed.

The top three market categories among Thai customers are beauty and healthcare, electronics and mother and baby products.

“I think that Thailand is key strategic market and Thailand is one of fastest-growing markets. We are aimed at serving brands and sellers of all sizes to ensure they are well-positioned to ride the e-commerce boom in Southeast Asia,” said Yin.

Yin said that the firm by the end of this year expects to see fivefold growth in revenue from LazMall compared with last year’s performance.

Lazada boasts more than 1,500 brands on the platform, with around 450 brands of these distributed in Thailand. Some 80 per cent of the parcels flow through its network.

The firm will set up a warehouse in Bangkok’s Bangna district in the near future. LazMall aims to be the Southeast Asia’s No.1 marketplace for global brands with 100 per cent authentic goods, 15-day returns and guaranteed next-day delivery, Poignant said.