Bangkok Airways’ new Airbus arrives Friday

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Bangkok Airways’ new Airbus arrives Friday

Corporate January 18, 2019 14:08

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Bangkok Airways on Friday welcomed the latest Airbus A319 as the 40th aircraft to its fleet at Suvarnabhumi Airport, according to its press release.

The event was led by Dechit Chareonwong, vice president of Flight Operations and joined by Nijjapat Piyapant, vice president of Ground Operations.

This aircraft type consists of 144 economy class seats and will be served popular domestic and international routes such as Chiang Mai, Phuket, Samui, Krabi, Myanmar (Yangon, Mandalay), Cambodia (Siem Reap, Phnom Penh), India (Mumbai) and Vietnam (Danang).

This includes the city of Cam Ranh which is the airline’s latest route starting January 25.

Currently, Bangkok Airways’ fleet consists of 4 ATR 72-500s, 11 ATR 72-600s, 16 Airbus A319s and 9 Airbus A320s.

Siam Commercial Bank Q4 net profit hits Bt7.1-bn

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Siam Commercial Bank Q4 net profit hits Bt7.1-bn

Corporate January 18, 2019 14:07

By The Nation

Siam Commercial Bank and its subsidiaries announced net profit of Bt7.1 billion in the fourth quarter of 2018 and Bt40.1 billion for 2018 – based on unaudited consolidated financial statements – a 7.1-per cent year-on-year decrease from 2017.

The bank said in a press release on Friday that total operating income increased 1.5 per cent yoy to Bt138.2 billion as net interest income (NII) rose 4.4 per cent yoy.

However, Non-NII declined 4.7 per cent yoy mainly due to digital fee waiver, a slowdown in the insurance business, and lower fee income from international trade in the second half of 2018.

Moreover, higher expenses associated with investment in the Transformation Program over the past three years had raised the bank’s cost-to-income ratio to 46.8 per cent. The higher cost-to-income ratio is within the expected range of 45-47 per cent and will steadily come down as the benefits from the Transformation Program kick in, starting from 2019, the bank said.

Arthid Nanthawithaya, president and CEO, said: “Despite a slight decline in earnings, our core business remains strong while our digital customer base has become significantly larger and more engaged as we continue to grow our business.

“The bank’s operating cost which has risen during the high investment cycle necessitated by the Transformation Program is temporary and we expect the cost-to-income ratio to improve over time.

“In 2019, we will direct our efforts towards realising value from the Transformation Program to deliver distinctive customer experiences and differentiated value proposition. We will also focus on driving the organisation to embrace a customer-centric culture with a mindset to strive for greater speed, agility and innovation while adhering to proper risk management practices.”

Krungsri announces 6.9 per cent profit bump for 2018

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Goto
Goto

Krungsri announces 6.9 per cent profit bump for 2018

Corporate January 18, 2019 13:48

By The Nation

The Bank of Ayudhya PCL and its business units have announced a strong performance for 2018, with a record net profit of Bt24.8 billion, a 6.9-per cent increase from 2017.

Krungsri attributed the net profit increase to three factors, including a higher net interest income supported by 10.4 per cent growth in outstanding loans, in a statement released on Friday. The other factors were higher non-interest and non-fee income, as well as effective expense management.

The increase underscores Krungsri’s competitive strength and agile ability to realign loan portfolio toward high-yield segments, the company statement said.

Krungsri president and CEO Noriaki Goto said, “Despite the challenging business environment, we continued to deliver another year of an outstanding performance with a record net profit of Bt24.8 billion.

“Our loans strongly grew by 10.4 per cent, and the growth was broad-based in all segments,” he said in the statement.

“Underlying our prudential risk management, asset quality remains healthy with an NPL ratio at 2.06 per cent, while our coverage ratio improved to 165.8 per cent. The achievement is proof positive that our business strategy is paying off, underscoring our agile ability to realign our loan portfolio toward high yield segments as we strive toward sustainable long-term growth.”

Almost half of Asian enterprises lack strategy for hybrid cloud, survey shows

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Almost half of Asian enterprises lack strategy for hybrid cloud, survey shows

Corporate January 18, 2019 01:00

By   THE NATION

SOME 44 per cent of enterprises in Asia-Pacific are proceeding to implement a hybrid cloud network without a formal strategy in place, research shows.

A survey, entitled Going Hybrid: Demand for Cloud and Managed Services Across Asia-Pacific, was commissioned by NTT Communications in partnership with Vmware and conducted in Thailand, Australia, Hong Kong, Indonesia, Malaysia and Singapore in the third quarter 2018. It analyses prevailing technology choices, service provider preferences, service priorities, and measures of hybrid cloud strategy and execution.

The research carried out an independent study of 464 IT decision-makers representing Asia- Pacific’s largest businesses in vertical markets. The businesses surveyed had as many as 100,000 employees or more, and more than three-quarters had annual revenue of more than US$1 billion. Based on the results of that study, the subsequent report provides insight about hybrid cloud planning and management, drivers and inhibitors, and factors that are influencing the choice of platforms, tools, technologies and managed services.

Multi-cloud has become the norm for most enterprises across Asia Pacific. Over 90 per cent of businesses surveyed have multiple cloud environments with varying degrees of interoperability, and more than half said they are already using a hybrid cloud. However, nearly 44 per cent have begun implementing hybrid cloud pilots without an overarching hybrid strategy in place.

 “Alarmingly a significant portion of large enterprises lack a formal hybrid-cloud strategy. While they recognise the potential benefits, they underestimate the technical complexity which may derail their business modernisation efforts if they do not have a future-proof hybrid cloud plan,” said Dave Scott, solutions director for NTT Communications Managed Services.

He said there are three paths to hybrid cloud migration: cloud-first, lift-and-shift, and refactor-and-shift

Enterprises are found to be actively considering an off-premises cloud as a critical component of their business modernisation strategy, while a hybrid cloud offers intermediary steps in their business transformation. The survey found that more than half of enterprises primarily emphasise migrating workloads from their internal environments when deploying into a public cloud. However, there is no predominate approach to their cloud migration – currently 28 per cent are focused on a ‘lift and shift’ approach and another 28 per cent are refactoring before moving. Another third are focused on the public cloud for net new applications.

In terms of hybrid workload deployment plans, there is little uniformity across all the businesses. In the next two years, CRM/sales and marketing (49 per cent), database and data warehousing (48 per cent) and file and content storage (47 per cent) will be the key focus for workloads to be shifted to hybrid cloud environments, up from 25, 28 and 28 per cent respectively. The strong traction indicates enterprises’ growing confidence in hybrid cloud to support their full spectrum of business requirements and application portfolios.

Scott said that for managed services, course-correction required for enterprises often lacks a well-thought-out hybrid cloud and security strategy

Another key consideration to drive hybrid cloud migration is security and compliance, which 95 per cent of enterprises rated as their top requirement.

In addition, nearly half of respondents pointed to improvements in the consistency of security policies across environments and better management of risk – challenges that can emerge as businesses begin to employ multiple cloud environments.

“End-to-end managed services and compliant-ready security management are increasingly becoming a strategy to future proof a company’s business growth paths,” Scott said.

All enterprises are at different stages in designing, implementing and operating their workloads or systems in a hybrid cloud environment. NTT Communications’ Managed Services is well positioned to offer smart, reliable and secure IT solutions through their full spectrum of managed services.

For instance, enterprises can immediately tap into NTT Communications’ global resources and capabilities such as high-speed networks, a global footprint of data centre and cloud services, with only a single contract and one service-level agreement (SLA).

Germany’s Hafele keeps its faith in Myanmar, despite current slowdown

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Thasaphong
Thasaphong

Germany’s Hafele keeps its faith in  Myanmar, despite current slowdown

Corporate January 18, 2019 01:00

By   KHINE KYAW
THE NATION
YANGON

THOUGH SOME multinational companies still wait and see to enter Myanmar, Hafele Ltd, a German company providing architectural hardware and electronic access control systems with presence in more than 150 countries, remains confident in the market, according to Thasaphong Eurnithilert, director of Hafele (Myanmar) Ltd.

Thasaphong said in an exclusive interview with The Nation that he foresees a more promising future in Myanmar after the nation’s general elections in 2020, presumably driven by potential inflows of foreign investment. Yet, he admitted the firm’s growth slowed down last year, driven by some stalled construction projects.

“Last year, a lot of our target project customers were on hold. For this year, we expect the growth at around 30 per cent. By the end of 2020, we plan to grow double of this year,” he said.

According to Thasaphong, high-end residential projects are expected to mainly drive the firm’s growth this year because a lot of developers widely use their products.

Hotels and tourism sector will continue to be part of Hafele’s growth while education, healthcare and information technology are expected to be among the promising sectors from 2019 onwards.

The executive seems pretty satisfied with Hafele’s growth in Myanmar. Since its establishment in 2013, the company enjoyed 100 per cent growth every year until it slowed down last year.

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Thasaphong seems fully aware that the firm’s short-term target is not very aggressive but he foresees a promising future in the next few years.

“Our revenue is not that big because we do not do trading in Myanmar. But, we have excellent partners who are doing a very good job. They do marketing and distribution of our products so our brands become popular among our target customers,” he said.

According to Thasaphong, the firm targets medium to high class customers including corporates, hotels, residential and office buildings as well as end users.

It also strikes a good balance, as 50 per cent of the sales come from projects while the remaining half goes to retail, reaching out to end users.

“In Thailand, our products are widely used in thousands of projects. Here in Myanmar, we have very well-known projects -Novotel Hotel Max, SkyStar Hotel, Residence@26, to name a few. We also have some new projects that will open soon,” he said.

According to the executive, more than 22,000 products available in Myanmar are all imported from the neighbouring country Thailand where Hafele has a big presence with its regional office.

“We are willing to have a big scale like in Thailand where there are more than 1,500 staff. In Myanmar, we have only five local staff. We plan to hire more employees this year,” he said.

Currently, the firm has six major projects_ three in Yangon 3, two in Mandalay, and one in Mawlamyaing. Along with the growth of premium agents, two more projects are slated to open this year, including one in Taunggyi.

“We can import from Thailand very fast, and we can also import from Germany and other countries for construction projects which take time.

But, we are always looking at opportunities to expand our presence in Myanmar,” he said.

Thasaphong considers Yangon and Mandalay as the firm’s first priority but reiterated the plans to expand in populated cities such as Mawlamyaing and Taunggyi.

“Once we have a factory or warehouse, we can expand a lot. But, this is not the right time yet,” he said.

Mitsubishi Electric aims for lead in air conditioner sales

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Mitsubishi Electric aims for lead in air conditioner sales

Corporate January 18, 2019 01:00

By   THE NATION

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MITSUBISHI Electric Kang Yong Watana is aiming for the lead in the cooling electrical appliances market with expectations of a 10 per jump in sales to Bt15.5 billion for the 2019 fiscal year.

The company is expected to post sales of Bt14 billion for the 2018 fiscal year, which ends on March 31, 2019, the company’s managing director Yasushi Moriyama, said yesterday.

To achieve its business plan for 2019, the company appointed Pope-Thanavat Vatthanapooti as Mitsubishi Electric’s partner/presenter for the fifth consecutive year. This will drive its sale growth to achieve the target, Moriyama said.

He added that the company will continue to focus on growing its household electrical appliances and air-conditioner businesses.

“Thailand is considered as our Asian hub with continuous growth potential,” he said. “For the fiscal year 2019, we are ready to drive quality and sustainable growth of our organisation, society and environment under United Nations’ SDGs, or Sustainable Development Goals.

“This is regarded as an important move to make changes towards sustainable goals started from equality and sustainability within the company from our employees to Thai consumers.

Moriyama said the company would create value for the economy, society and environment together with the development of innovation and products with Mitsubishi Electric’s “unique identity, with offering products with quality, safety, energy saving” and environmental friendliness.

“Mitsubishi Electric Corporation Japan will celebrate its 100th anniversary of operation in 2020,” Moriyama said.

“We are always committed to operating our business with social responsibility to enhance the quality of life so as to achieve our sustainable development growth with aims to successfully grow our business to reach the sales over 5 trillion yen in the fiscal year 2020.

“For Thailand’s economy in 2018, GDP increased to 4.2 per cent from the government policy to support the investment in the mega-infrastructure projects and the public consumption factor which resulted in a positive growth in the overall economy.

“The competition in the home appliances market continues to be vigorous.

Therefore, we will broaden our reach to cover the wider group of target consumers with the launch of better quality “inverter” air-conditioner models so as to retain our market share and No.1 leadership in air-conditioner for home use segment and No. 1 trusted brand voted by the consumers in Thailand as well as cater to the consumers’ requirement and create sustainable happiness for the Thai society.

“We expect that in 2019, the economy will be better, so, we project our overall sales to grow over 10 per cent higher than the last fiscal year.”

5G 700 MHZ AUCTION

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5G 700 MHZ  AUCTION

Corporate January 18, 2019 01:00

By The Nation

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True informs SET its reason not to participate

In response to news about the 5G 700 MHz spectrum auction, True Corporation Plc reported to the Stock Exchange of Thailand yesterday that the company did not  plan to participate as the company was still waiting for more details on the 900 MHz payment extension.  Currently, the company’s main focus is to drive revenue and margin growth as well as cash flow improvement.

The company has sufficient low-band frequency at 850 MHz and 900 MHz to reallocate  in support  of the 5G services. The 5G investment,  utilising existing bandwidth,  will be in specific areas where the company expects good return due to significant demand and readiness of  enabled devices.

NGV BUSES Payment made to CHO from BMTA for 100 units

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NGV BUSES Payment made to CHO from BMTA for 100 units

Corporate January 18, 2019 01:00

By The Nation

Cho Thavee Plc or CHO, on behalf of “SCN-CHO Consortium”, has already delivered the second batch of 100 units of NGV air-conditioned bus to the Bangkok Mass transit Authority or BMTA,  following the  contract with BMTA for sales, repair and maintenance services of 489 NGV air-conditioned buses.

On Tuesday, CHO received a cheque from BMTA for the third batch delivery payment (100 units of bus).

The cheque  was paid into  an account of CHO, on behalf of SCN-CHO Consortium. If there is any further progress, the company will  provide further information.

CP FOODS Bid to lift standards of fish meal suppliers

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CP FOODS  Bid to lift standards of fish meal suppliers

Corporate January 18, 2019 01:00

By The Nation

Charoen Pokphand Foods Plc (CP Foods) has stepped it efforts  to encourage more of its fishmeal suppliers to  undertake the International Fishmeal and Fish Oil Organisation Responsible Supply (IFFO RS) standard,  to ensure non-IUU fishing throughout its supply chain.

The latest announcement by the European Commission to delist Thailand from the “Yellow Card” has underpinned all concerned sectors to strictly stick to  traceability.

CP Foods is also  encouraging  its fishmeal suppliers to take up IFFO RS standard to ensure sustainable growth.

Dr Sujint Thammasart, Chief Operating Officer/ Aquaculture Business of CP Foods, said the company will double the number of fishmeal plants with IFFO RS certification by five suppliers this year.

This plan will help improve standard  at the  manufacturing lines and  ensure traceability practices of raw materials coming  from legal sources.

Good practices from Thailand will spread to all  CP Foods’ aquaculture operations across the world by expanding the scope of the Fishery Improvement Projct (FIP) from Thailand to  its overseas  aquaculture operations in Vietnam, the Philippines and India, he said.

GSB RESULTS

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GSB RESULTS

Corporate January 18, 2019 01:00

By The Nation

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The Government Savings Bank (GSB) has announced Bt64 billion in interest rate revenue and a net profit of Bt36.31 billion last year, up 10.56 per cent and 16.38 per cent respectively from 2017, the bank’s president and chief executive officer Chatchai Payuhanaveechai said at press conference yesterday.

The bank also reported a drop in non-performing loans to 2.15 per cent, lower than the average in the the banking system .