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https://www.nationthailand.com/business/corporate/40019617

First global approval for AZD7442 as a COVID-19 treatment

BANGKOK – AstraZeneca’s AZD7442 (tixagevimab and cilgavimab), a long-acting antibody combination, has been approved in Japan for both prevention (pre-exposure prophylaxis) and treatment of symptomatic disease caused by SARS-CoV-2 infection. The decision marks the first global marketing approval for AZD7442 as a treatment for COVID-19.

In prevention, Japan’s Ministry of Health, Labour and Welfare (MHLW) granted AZD7442 Special Approval for Emergency for adults and adolescents (12 years of age and older weighing at least 40kg). AZD7442 is approved for use in those whom SARS-CoV-2 vaccination is not recommended and who may have an inadequate response to a COVID-19 vaccine due to immunodeficiencies. Recipients of AZD7442 for prevention should not be currently infected with or have had recent known exposure to a person infected with SARS-CoV-2.

In treatment, AZD7442 is approved for adults and adolescents (12 years of age and older weighing at least 40kg) with risk factors for severe SARS-CoV-2 infection who do not require supplemental oxygen. 

Kazuhiro Tateda, M.D. Ph.D., Professor, Department of Microbiology and Infectious Disease, Toho University, Tokyo, Japan, said: “COVID-19 continues to have a significant impact on our daily lives in Japan. Many people, including older adults, patients with comorbidities, and immunocompromised patients, remain at risk for poor outcomes from severe COVID-19. AZD7442 will be a much-needed new option, offering long-term protection for those who do not achieve an adequate immune response after vaccination and helping prevent severe disease and death in those who do become infected.”

Itaru Matsumura, M.D., Ph.D. Professor & Chairman, Department of Hematology & Rheumatology, Kindai University Faculty of Medicine, Otsuka, Japan, said: “Despite the progress of vaccinations and stringent safety precautions, there are very large number of new infections in Japan. The approval of AZD7442 is expected to provide a non-vaccine prophylactic option for those who cannot expect a full immune response from COVID-19 vaccination, such as patients with blood cancers.”
 

Mene Pangalos, Executive Vice President, BioPharmaceuticals R&D, AstraZeneca, said: “The approvals of AZD7442 in Japan represent an important milestone in our ongoing efforts to help combat COVID-19 on all fronts. AZD7442 is now the only long-acting antibody combination authorised for both COVID-19 prevention and treatment, allowing us to help protect even more vulnerable patients such as the immunocompromised from this devastating disease.”

The Japanese government has agreed to purchase 300,000 units of AZD7442 (150mg each of tixagevimab and cilgavimab) and AstraZeneca is working with the government and partners to make first doses available as soon as possible.

The approvals were based on efficacy and safety data from the AZD7442  clinical development programme, including the PROVENT Phase III pre-exposure prophylaxis trial, the TACKLE Phase III outpatient treatment trial, and Phase I trials, including in Japan. In PROVENT, a 300mg intramuscular (IM) dose of AZD7442 significantly reduced the risk of developing symptomatic COVID-19 by 77% (95% confidence interval (CI): 46, 90; p<0.001) COVID-19 compared to placebo at the primary analysis.1 An 83% (95% CI: 66, 91) relative risk reduction was shown at a six-month median follow-up analysis, with protection from the virus lasting six months. 

In TACKLE, a 600mg IM dose of AZD7442 significantly reduced the relative risk of progressing to severe COVID-19 or death (from any cause) by 50% (95% confidence interval [CI] 15, 71; p=0.010) through day 29 compared to placebo in non-hospitalised patients with mild-to-moderate COVID-19 who were symptomatic for seven days or less, the trial’s primary endpoint. In pre-specified analyses of participants who received treatment within three days of symptom onset, AZD7442 reduced the risk of developing severe COVID-19 or death (from any cause) by 88% compared to placebo (95% CI 9, 98), and the risk reduction was 67% (95% CI 31, 84) when participants received AZD7442 within five days of symptom onset.  

AZD7442  was generally well-tolerated in the trials. 

The recommended dose for prevention of symptomatic disease caused by SARS-CoV-2 infection in Japan is 150mg of tixagevimab and 150mg of cilgavimab, administered as separate sequential IM injections. Depending on the prevalence of SARS-CoV-2 variants, 300mg of tixagevimab and 300mg of cilgavimab may be administered for prevention. The recommended dose for treatment of COVID-19 is 300mg of tixagevimab and 300mg of cilgavimab, administered as separate sequential IM injections. 

AZD7442 has been shown to retain in vitro neutralisation activity against the main Omicron variants currently circulating globally, including BA.5 and BA.2.

AZD7442  is also authorised for use for pre-exposure prophylaxis (prevention) of COVID-19 in the US (emergency use), EU and many other countries. Regulatory submissions are progressing for both prevention and treatment indications around the world.  
 

Published : September 01, 2022

By : THE NATION

The collaboration aims to promote Thai youths’ full potential in the international arena.

Kiatnakin Phatra Financial Group (KKPFG) and Sripatum University on August 30 signed a memorandum of understanding (MOU) to host the meeting of youth leaders of the Asia-Pacific Economic Cooperation, also known as “APEC Voices of the Future 2022” or APEC VOTF 2022, which will be held in Thailand in parallel with the APEC CEO Summit 2022 between November 13-19, 2022.

The event aims to provide opportunities for potential youths from 21 APEC economic zones to engage in activities that promote the exchange of perspectives and solutions on issues related to the future of economies in the Asia-Pacific region. Youth leaders will also be able to listen to the visions of executives from the world’s leading companies attending the APEC CEO Summit. The MOU signing ceremony at Sripatum University also introduced Thailand’s representatives who will join the APEC Voices of the Future 2022 programme as well as their educators.

Kullanun Santaivo, Group President of Individual Clients at Kiatnakin Phatra Securities Plc, said KKPFG believes that the APEC Voices of the Future programme will help boost the potential of Thai youths at the international level and that these youths will play a crucial role in Thailand’s development in the future. 

“In the past 5 years, KKPFG has been tasked by APEC Voices of the Future’s programme manager to select Thai youths to be the country’s representatives in the meeting, which is held annually among member countries. We have also designated our qualified personnel to be educators of these youths to provide them with knowledge and expertise in economic development,” she said. “As Thailand is hosting the APEC Summit this year, KKPFG is expanding its partnership across the education and child development sector, including Sripatum University which has helped us in selecting youth representatives at the university level and hosting opinion exchanging public forums. We believe that the collaboration with these partners will help Thailand achieve the goal of this year’s APEC meeting under the concept of Open. Connect. Balance.”

Dr Ratchaniporn Phukkayaporn Pukkaman, rector of Sripatum University, said “As Thailand’s leading private university, Sripatum University is ready to promote students to demonstrate their potential as a leader in the APEC Voices of the Future programme. This event offers great opportunities for Thai youths to engage in extracurricular activities that will yield valuable experience for their future. After they graduate, these students will become potential leaders who will bring about substantial change for the betterment of society. Sripatum University is proud to be a part of this programme, and hopes that it will spark future similar programmes that benefit Thai youths in a wider group.”

After the MOU signing ceremony, there was an introduction of 12 Thai youths from leading domestic and international institutes, who have been selected as the country’s representatives to participate in APEC Voices of the Future 2022, as well as the introduction of KKPFG’s executives who will serve as educators and counsellors of Thai youths throughout the project’s period.

The APEC Voices programme was launched in Kuala Lumpur in 1998 at the APEC Malaysia Summit while the first meeting was held in New Zealand in the following year along with the APEC New Zealand Summits. Thailand has been sending youth representatives to the meeting since 2012 and will host this year’s meeting from November 13-19 in parallel with the APEC CEO Summit 2022. The APEC Voices of the Future 2022 is expected to be joined by over 130 youths from 21 APEC economic zones.

Narai Intertrade Co Ltd is also a sponsor of the APEC Voices of the Future 2022. The manufacturer and distributor of ‘Naraya’ brand products will design and manufacture souvenirs for programme members and meeting participants.

Published : August 31, 2022

By : THE NATION

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https://www.nationthailand.com/business/corporate/40019578

Thai Airways International (THAI) is confident that its creditors will approve its revised rehabilitation plan during a meeting on Thursday.

As part of the revised plan, the THAI would allow current shareholders to buy more shares at 2.54 baht per share. The national flag carrier expects to raise at least 25 billion baht from the rights issue, the chairman of the THAI committee overseeing the airline’s rehabilitation plan said.

Thai Airways filed for bankruptcy protection in May 2020 after being saddled with massive debt and the worldwide travel downturn. In September 2020, the Central Bankruptcy Court in Bangkok ordered the airline into a business rehabilitation programme.

The committee’s chairman, Piyasvasti Amranand, said his panel would request approval from the creditors on Thursday after the committee submitted its revised plan to the foreclosure officials on July 1.

Piyasvasti said he was confident that the creditors would approve the revised plan because THAI has already been holding informal discussions with major shareholders, including the Finance Ministry, creditors who had bought corporate bonds, and financial institutions.

“I’m confident the creditors will vote in support of this plan because the rehabilitation committee has been holding talks with the creditors committee all along,” he said.

He said representatives of the Finance Ministry, two banks and savings cooperatives on the creditors’ panel had expressed support for the revised plan.

He said all the groups had expressed their willingness to support the revised plan so that THAI’s equity would turn positive in 2024 and the creditors, especially buyers of corporate bonds, would be paid back their loans sooner than scheduled by the initial rehabilitation plan.

Piyasvasti added that the revised plan would allow THAI to exit rehabilitation and it could resume trading of its shares on the stock exchange in 2025.

Piyasvasti said the revised plan would benefit current shareholders because THAI had not used the conventional method of reducing the par value of each share from 10 baht to one satang.

“But THAI will issue new shares to the creditors and shareholders at the price of 2.54 baht per share while the initial plan did not attach importance to the current shareholders,” he added.

He said the revised plan has three major steps:

– THAI would not return to the status of a state enterprise because the airline could not operate efficiently as a state firm in a highly competitive business.

– Convert debt into equity

– Issue new shares

He said the committee is confident that the Finance Ministry would agree to convert its entire loan into equity and would use its current shareholder’s right to buy more shares.

After the debt-to-equity conversion and subscription to the rights issue, the Finance Ministry would hold about a 32 per cent stake in THAI.

Adding the equities of state firms, such as Government Savings Bank and Krung Thai Bank, the state would hold about a 40 per cent stake in THAI, Piyasvasti added.

Once the revised plan is approved by the creditors and the Central Bankruptcy Court, THAI would issue new shares and convert its debt into equity, after which THAI would aim to have positive shareholders’ equity in late 2024.

He said if THAI achieves earnings before interest, tax, depreciation, and amortization (EBITDA) of over 20 billion baht a year as planned, it would be able to exit the rehabilitation process in 2025 and resume share trading.

Piyasvasti said THAI has seen an improvement in its performance after Thailand and other countries reopened post the Covid pandemic. THAI’s average cargo load increased from 10-20 per cent last year to 50 per cent in July and 80 per cent in August.

He said the number of passengers also increased from an average of 500 passengers per day during the first six months of this year to about 16,000 in July and 20,000 in August, which included 3,000 daily passengers of Thai Smiles.

In July, THAI earned revenue of 9.6 billion baht from cargo shipment and passenger transport while its subsidiary Thai Smile earned 1 billion baht.

He said THAI had EBITDA of 168 million baht after deducting plane rental fee during the second quarter.

During the high season this year, THAI would resume its Bangkok-Milan and Bangkok-Oslo routes late this year or early next year, Piyasvasti said. It would also increase Bangkok-Jeddah flights from four per week to seven.

He added that THAI would also hire 600 more outsourced employees within this year, adding to the current workforce of 14,400. THAI also plans to rent three more planes for routes to China, adding to its current fleet of 68 planes.

Meanwhile, the Federation of Savings and Credit Cooperatives of Thailand issued a statement to its members, asking them to vote in support of the revised plan on Thursday.

Wisit Srisuwan, director-general of the Cooperative Promotion Department, said the law did not allow the national cooperatives development committee to convert debt into shares, but the committee would follow orders if the bankruptcy court allows creditors to convert debt into equity.

Also on Wednesday, Finance Minister Arkhom Termpittayapaisith expressed support for the debt conversion plan. He said the ministry would maintain its stake in THAI at not less than 40 per cent, including shares held by state banks and a state investment fund.

Arkhom said he was discussing with state banks to help buy more shares in THAI once new shares were issued.

Published : August 31, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/corporate/40019553

Announcement from Bitkub Blockchain Technology Co., Ltd. on August 30, 2022.

According to the Securities and Exchange Commission, Thailand news (135/2565), heading: SEC uses the Civil Penalty to the offender who uses insider news for KUB Coin trading on August 30, 2022.

Bitkub Blockchain Technology Co., Ltd. (“Company”) would like to clarify that Mr. Samret Wajanasathian is still holding a position as Chief Technology Officer : CTO until the enforcement of the law, which the company will keep update about this issue.

We would like to confirm that Bitkub Blockchain Technology Co., Ltd. (“Company”) is not involved and affected by the issue and Bitkub Chain still operates as usual.

We still intend to develop Bitkub Chain to be the digital infrastructure for mass adoption in Thailand as provided in Bitkub Chain White Paper. We intend to democratize the opportunities for everyone to have real ownerships and rights to own the digital asset to show the real economic value via a real-life and impactful use cases for businesses.

Best Regards
Bitkub Blockchain Technology Co., Ltd.
 

Mr. Samret Wajanasathian clarify on his own Facebook as follows: “According to The Security and Exchange Commission announcement regarding my KUB Coin purchasing during September 4, 2021 to November 2, 2021, I would like to sincerely declare my statement towards this issue.

“I knew the laws concerning insider trading quite well that when I was on the project, I was not able to purchase the KUB Coin. Thus, the only time that I could buy the KUB Coin is when the project has ended or has not started. Previously, I would have wanted to buy KUB Coin at the price below 30 baht, but unfortunately I could not due to my ongoing project called “Morning Moon Village”. Eventually I had to wait until the “Morning Moon Village” project opening took place. Then, after the project opened, I had a chance to buy the KUB Coin at the price approximately around 30 – 32 baht. If I did not decide to buy at that time, the upcoming project would start and I would have missed this price. However, before that, I personally purchased it as a fee credit on Bitkub Exchange only.
 

“As soon as the Security and Exchange Commission announced, I could ensure that as one of Bitkub Blockchain Technology Co., Ltd.’s management team, I had no ideas regards to SCB Deals. If I had known about those deals, I would have sold all my coin including WAN, SNT, BNB and Ethereum, which the total value of these coins is around 4 million baht and all in the fund to the KUB Coin. Personally, the total amount of KUB Coin is quite close to these coins (60,000 KUB) which is quite normal but it is the coincidence to the deal.

“The aim to purchase KUB Coin was for long term investment. As you can see, if I would intended to buy the coin for a short term profit, I would have sold all the coins to earn the margin already. The fact is that those coins still remain in my wallet until this moment I declared myself. Only a little amount of coins was used to redeem as a fee credit in Bitkub Exchange.

“From the above mentioned statement, I was already informed by the Securities and Exchange Commision but they still punish me without the lucid evidence so that I would like to insist that I will defend the issue. With all of my intention, I still insist that Bitkub Chain development is my priority as committed for Thai people. Bitkub Chain will be the digital infrastructure for mass adoption and democratize opportunities for everyone.”

Samret Wajanasathian
Chief Technology Officer : CTO
Bitkub Blockchain Technology Co., Ltd.

For more details: https://www.facebook.com/bitkubchainofficial/photos/a.114199560836918/406861638237374/
 

Published : August 31, 2022

By : THE NATION

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https://www.nationthailand.com/business/corporate/40019552

The Securities and Exchange Commission (SEC) ordered Bitkub chief technology officer Samret Wajanasathian on Tuesday to pay a fine of 8.53 million baht and barred him from holding an executive position for 12 months in an alleged insider-trading case.

Tuesday’s order came after the SEC in May hit Bitkub, Thailand’s largest cryptocurrency exchange company, with fines for failing to comply with market regulations before listing the platform’s native token KUB.

Last week, Siam Commercial Bank (SCB) backed out of a 17.8-billion-baht deal to purchase a majority stake in Bitkub, citing unresolved issues with the SEC.

The insider-trading case stems from an incident last November, when the SCB acquisition plan was first announced.

According to the SEC, Samret, allegedly armed with this information, purchased 1.99 million baht worth of KUB tokens. Upon public announcement of the planned deal, the price of KUB subsequently rose by 101 per cent – from 49.53 baht to 99.99 baht.

The SEC ruled that Samret had violated Sections 42(1) and 43(1) of the Royal Decree on Digital Asset Businesses BE 2561 (2018) and therefore fined and suspended him from the executive post according to Sections 70 and 72 of the decree.

The SEC warned it would take the case to court if Samret refused to pay the fine.

Published : August 31, 2022

By : THE NATION

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https://www.nationthailand.com/business/corporate/40019540

Thailand, August 30, 2022: Avaada Ventures Private Limited (Avaada Group Company), the Indian investment partner of Global Power Synergy PLC (GPSC), the listed innovative power flagship of Thailand’s national energy company PTT Group, has signed an MoU for USD $5 Billion Green Ammonia plant with Rajasthan Government.

Avaada Group, India’s leading integrated energy enterprise, signed a Memorandum of Understanding with the Department of Industries and Commerce, Government of Rajasthan, on Wednesday (August 24), to set up a Green Ammonia facility and a Renewable Energy power plant in Kota, Rajasthan. The MoU signed as part of the Investment promotion strategy for the Investment Rajasthan Summit held in New Delhi proposes an investment of $ 5 Billion crore while also providing direct employment opportunities to about 3,500 people and indirect jobs to over 10,500 people.

Calling the collaboration a game changer for India’s green push, Mr. Vineet Mittal, Chair, Avaada Group, said, “Green energy transition is vital to the country’s Atmanirbharta and will pave the way towards net-zero goals. Aligning with the nation’s vision of self-reliance, at Avaada, we aim to make India energy independent by focusing on green energy security.” 

“GPSC investment in Avaada Energy Private Limited (Avaada Group Company) will indeed support the group mission to become leading player in renewable enegy in India which will surely benefit the partnership. We will take this association to build and reach newer Renewable Energy (RE) targets, and this investment in Rajathan is another step in that direction,” said Vineet Mittal, Chair, Avaada Group.
 

“At Avaada, we believe that business and sustainability go hand-in-hand. We are grateful to the Government of Rajasthan for this partnership. It will help strengthen India’s green energy revolution, led by Hon’ble Prime Minister Narendra Modi, as we make significant investments in innovative clean energy solutions to support the country’s exponential growth in the renewable energy  sector,” he added.

Elaborating on the clean energy technology, Mr Mittal further explained that the biggest advantage of Green Hydrogen is that it burns clean, leaving only water vapour behind. He further said, “For industries that require high-temperature heat, such as foundries and glass and steelmakers, this could be ground-breaking as it will not only replace fossil fuels with renewable sources but also produce green ammonia and a substitute for gas.”
 

About Avaada Group

Avaada Group is India’s leading Renewable Energy (RE) company with diverse business interests in Solar Module Manufacturing, Electrolyser manufacturing and Green Ammonia production. Avaada is one of the fastest-growing  business groups having commissioned few largest solar projects across 11 states in India.

Avaada Energy, established in 2017, is the flagship company of the Avaada Group with a current RE portfolio of ~ 5 gigawatts (GW) of which ~ 3 GW is operational and balance under advance stage of construction. Avaada  Energy installed 1 GW in the calendar year 2021 which is the largest among all the renewable energy IPPs in India, despite COVID challenges. Avaada Energy has unmatched quality standards and targets a portfolio of 11 GW of RE projects by 2025 and 30 GW by 2030.

Earlier Avaada Energy (*Welspun Energy) monetized the installed capacity of 1.2 GW with Tata Power Renewable Energy in a deal valued at US $ 1.4 bn in 2016.

Avaada Energy  is now executing an integrated solar manufacturing plant with a facility to produce polysilicon, wafer, cells and modules with a cumulative capacity of 10 GW by 2030. The plant’s first phase consisting of cells and modules will be operational in 2023 and will cater to the domestic as well as international markets.  Avaada Group is getting future-ready and has diversified in Green Hydrogen / Ammonia, targeting a cumulative capacity of 4 MTPA per annum by 2030 to cater to domestic as well as foreign markets. The group is also geared up for a new segment of business involving the  manufacturing of electrolyser, where it will pursue a manufacturing capacity of 1 GW per annum.

Avaada Energy known for its rich expertise in EPC makes it a leader when it comes to its track record for executing end-to-end solutions. Avaada’s path-breaking  technological solutions, capacity, quality, execution speed, and total cost of ownership attracted equity funding from marquee investors from across the globe. Avaada backed by global finance majors like Asian Development Bank (ADB), DEG (Germany), FMO (Netherlands) and Proparco (France) speaks of its impeccable track record and project execution capabilities. Subsequently, Avaada Energy got an equity participation of ~ USD $ 475 mn form globally renowned Fortune 500 oil and gas company PTT Group, Thailand in 2021.

*Welspun Energy was established in 2010 with an installed capacity of 1.2 GW in 2016, being India’s largest renewable energy company. In 2016, assets were monetized with sales to Tata Power (one of the largest conglomerates in India) in a deal valued at US $ 1.4 bn.  The monetisation process followed the demerger of Welspun Energy, and the firm was rechristened Avaada Energy. Since its inception in 2017, Avaada Energy has grown significantly and today has a portfolio of 5 GW of operational and under construction capacities.

Published : August 30, 2022

By : THE NATION

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https://www.nationthailand.com/business/corporate/40019526

JSL Global Media has sold its building so that it can pay 32 million baht as compensation to laid-off employees in one lump sum instead of disbursing the amount in instalments as announced earlier.

Decha Kittiwitthayanun, a celebrity lawyer who has stepped in to help the employees fight the case, announced on his Facebook wall that he would lead the workers to receive the compensation at the Area 4 Employment Office at 9.30am on Wednesday.

Decha announced that Labour Minister Suchart Chomklin would be present to witness the compensation payout.

“Please spread this news. I did this job for workers. And the Labour Ministry should be credited for stepping up pressure on JSL until it agreed to pay every satang of the compensation of over 30 million baht to the workers. It has sold the head office building to raise the money,” Decha said in his post.

JSL Global Media announced at the end of June that it was immediately ceasing operations and had to lay off all staff mainly because of losses.

The company announced on its Facebook wall on July 5 that it owed 32 million baht in compensation to the staff but due to its liquidity crunch, it could pay only 16 per cent of the compensation amount at the end of June and another 9 per cent at the end of July. It said it would pay the rest of the compensation in monthly instalments as per the company’s ability to earn money.

But Decha led 79 former JSL employees to file complaints against the firm at the Area 4 Employment Office, alleging that JSL was violating the labour protection act of BE 2541.

Published : August 30, 2022

By : THE NATION

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https://www.nationthailand.com/business/corporate/40019486

The planned merger of telecom giants sparked more public opposition on Monday as a civil society group petitioned the National Broadcasting and Telecommunications Commission not to accept the deal.

Promsorn “Fah” Weerathamcharee, representing a civil group for communication freedom, submitted a letter opposing the merger of True Corporation and Total Access Communication (Dtac) at NBTC headquarters in Bangkok.

NBTC Office acting secretary-general Trairat Wiriyasirikul came out to receive the letter.

In the letter, the group called on the NBTC to exercise its power to reject the merger deal on grounds that it would damage consumer interests by creating a near monopoly of telecom services.

The letter also expressed disagreement with the NBTC petitioning the Council of State, the government’s legal advisers, to decide on whether the commission has the authority to consider the merger.

The Council of State replied on July 27 that it would not accept the request for deliberation, prompting the NBTC to ask the prime minister on August 25 to order the Council of State to accept the request.

The civil group argued that the NBTC is an independent organisation under the Constitution and so should not bow down to the government.

It noted that Section 60 of the charter requires the NBTC to supervise telecom businesses to ensure free and fair competition by taking the public and national interests into account.

If the merger is approved, different service costs would rise in a range from 2.03 to 244 per cent as competition would be reduced from three major telecom players to two, the group added.

It also voiced concern that a merger would victimise small retailers, as the merged firm would use its own retail channels to sell SIM cards. CP Group, the parent firm of True Corp, also owns 7-Eleven and the Lotus retail chain.

On August 24, the NBTC voted 3:2 to ask the Council of State via the PM’s Office to consider whether the NBTC has the power to stop the merger.

A month earlier, True and Dtac executives held a joint press conference to declare that the NBTC had no power to stop the merger, saying the telecom law allowed the deal to go ahead without permission from the telecom watchdog. The two firms said the NBTC only had power to regulate the merged firm via consumer-protection measures.

The NBTC’s August 24 meeting also considered a joint letter from True and Dtac asking the telecom watchdog to speed up its decision.

True Corp has launched a public campaign on its TrueVisions network, saying the public would stand to gain from the new technology firm that would be set up after the merger.

The NBTC responded by publishing “five facts about True-Dtac merger” on its website on Thursday. The “five facts” indicated negative impacts from the merger.

The next day, True and Dtac complained that the “five facts” post had caused public misunderstanding, damaging their reputations and business.

The NBTC then hastily removed the post from its website.

Published : August 29, 2022

By : THE NATION

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https://www.nationthailand.com/business/corporate/40019468

Establishing confidence in the “Mothership” strategy to become a regional financial technology group

Bangkok, August 29 – SCB X Public Company Limited (SCBX) has had its credit rating published for the first time by international rating agencies Moody’s Investors Service and Fitch Ratings. Moody’s has issued SCBX a “Baa2” Foreign and Local Currency Long-Term Issuer Rating, while Fitch has assigned SCBX a “BBB” Long-Term Issuer Default Rating. SCBX is the first financial holding company in Thailand to be rated “Investment Grade”, which reflects SCBX’s solid financial position and prudent risk management framework by global standards. It also bolsters confidence in SCBX’s plan to transform the company into a regional financial technology group creating long-term value and sustainable growth.

Both Moody’s and Fitch regard SCBX as an “Investment Grade” issuer. SCBX’s ascent to become the ultimate parent of the group is reflected in its solid governance framework, robust capital and liquidity management, and resilience in the face of adverse conditions, all of which contribute to its strong credit ratings.

SCBX has established a solid financial foundation with a vision to be a regional financial technology group. The company’s long-term objectives include amassing a client base of over 200 million, operating as a platform that connects the ecosystem at home and abroad, joining the high-growth consumer loan market, and integrating the digital asset business into the group to generate value rapidly.

Manop Sangiambut, Chief Finance and Strategy Officer of SCBX, said “We are delighted to have received solid “Investment Grade” credit ratings from reputable international rating agencies. This rating will be crucial for our fundraising in the future. We are confident that this development will broaden investor confidence in the company. SCBX will continue to build financial strength in order to invest and create shareholder value in the foreseeable future.”
 

Published : August 29, 2022

By : THE NATION

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https://www.nationthailand.com/business/corporate/40019409

Thailand’s e-commerce is on course for fivefold growth over the next three years, according to new Thai e-Commerce Association (Theca) president Kulthirath Pakawachkrilers.

The Thai e-commerce market is expected to grow from 817 billion baht currently to over 4 trillion baht in 2025, Kulthirath said.

Helping to drive that growth will be the new trend for virtual or metaverse commerce, she added.

“Meta-commerce is changing the world of e-commerce by adding virtual reality,” said Kulthirath as she was introduced as the association’s new chief on Thursday, replacing Thanawat Malabuppha. Kulthirath is CEO and co-founder of Thailand e-Business Centre (TEC).

Strategic Market Research forecasts the global meta-commerce market will grow to US$678.80 billion (24.4 trillion baht) by 2030. The market is currently worth about $47.48 billion.

Thai e-Commerce Association (Theca) president, Kulthirath Pakawachkrilers

The biggest driver of the Thai e-commerce market is online shopping.

The e-shopping market is expected to grow more than 128 per cent to 120 billion baht in 2025, according to Theca. The e-travel sector comes second, with a projected 29.91 per cent increase to 29 billion baht.

Ranked third is e-transportation and food delivery, which is forecast to rise 22.37 per cent to 18 billion baht.

Kulthirath said Theca’s strategy is to promote eight aspects of e-commerce: Thai e-commerce, fair competition, cross-border e-commerce, women and outreach, empowering Thai online sellers, new software, digital marketing and solutions for SMEs, and e-Commerce and future workforce.

Published : August 27, 2022

By : Varunsuda Karunayadhaj