In search of the technological leading edge, Wellux turned to South Korean giant Samsung Electronic, which agreed to a technology transfer. And now, the Thai company is launching its line of lighting solutions, manufactured here.

“We saw growing business opportunities and so chose products that respond to consumers’ needs. We chose Innovation LED Samsung Inside, an LED chip, to launch products that suit consumers in the age of digital Thailand 4.0,” Thunyawich said, noting that the use of the quality chip technology complies with Wellux’s vision to be No 1 in lighting innovation.

Thunyawich said that the total market value of LED lights in Thailand is at about Bt5 billion.

“Our target is to gain a share of between 5 per cent and 10 per cent of the market. Our brand aims at highlighting innovation and product development to penetrate the young generation market, with the growing trend of utilising lighting not only for convenience but also for technological advancement.

“Wellux LED lights use Innovation LED Samsung Inside with the high-quality LED Samsung chip, providing endurance and increased brightness, along with being more economical. This innovation helps Wellux to provide quality and innovation that responds to this age of innovation,” he said.

In addition to product development, Thunyawich said the company would also focus on enhancing proactive sales and marketing activities as key to its strategy.

Wellux is excited to partner on sales and marketing activities during the launch period with Thai Samsung Electronics Co Ltd, the owner of Samsung world-class mobile phones and electronics equipment brand. Another campaign partner is Databar Co Ltd, a local distributor of Thai Samsung Electronics Co Ltd for its Samsung Galaxy Note 9 and Samsung A7.

Wellux will launch three lighting products during the launch period, each with Innovation LED Samsung Inside. The first is I-Dapt Technology, lighting designed with eye care in mind. Within 4.5 seconds of exposure, the technology protects people’s eyes. Second is 3-Colour Dimming, which allows users to vary the lighting emotion of a room, with a switch to change from daylight, to warm light and to cool light. The third product is 3-Step Dimming, which gives the options of 100 per cent light, 50 per cent light and 15 per cent light.

“We also see the importance of marketing, branding and corporate social responsibility,” said Thunyawich. We have a marketing and PR budget of Bt50 million for the launch period. In the first three years after the launch, we expect to get Bt500 million in annual revenue. Our target customers are real estate developers, architects, contractors, the government’s projects, electrical and electronic shops. “We aim to increase our production and distribution to respond to consumers’ needs with government collaboration,” he said.

“In terms of competition, we plan to provide best products with value for money and high quality, so we chose Innovation LED Samsung Inside which is the best LED Samsung chip in the market. We will not compete with other companies, as we have distinctive selling points and match the needs of consumers with the right communication to consumers. So consumers will get the best products.

“We target premium consumers and engage them via social media and other communication. We plan to build the Wellux brand story, in order to be the consumers’ favourite brand, targeting both contractors and project customers. “This time we have chosen Innovation LED Samsung Inside, which is a world-class innovation, to help our products to be innovative and have a high quality that responds to the needs of this era.”

Social enterprise (SE) has emerged as a solution for a more sustainable economic growth in response to widespread social, economic and environmental problems caused by capitalism.

Thailand has always endorsed the concept of SE, and with support from civil society and private sector, policies and relevant laws have been developed since 2010 when the Thai Social Enterprise Office (TSEO) was set up to promote social enterprises and develop a network.

The Cabinet approved a new draft bill in July to encourage businesses to conduct more activities for the benefit of society, which will help develop communities and ease environmental problems.

At a recent seminar titled “Thai Social Enterprise: The Way Forward”, Kittipong Kittayarak, executive director of the Thailand Institute of Justice, said a law is good when it is accessible to all equally and can create an ecosystem where people are empowered to bring innovation and ease inequality.

The key to success starts from providing entrepreneurs with enough knowledge to build their own business model and giving them access to funding and tax advantages, he added.

However, he said, the driving motive for social enterprises is far more complicated than just setting up a startup that focuses on profits. He noted that building an ecosystem that supports SE is also important.

“The law alone cannot govern every part of the ecosystem. Cooperation from all sectors, namely incubators, education sector, financial institutions, entrepreneurs’ associations and public sector are key for the successful implementation and development of SE,” Kittipong said in an opening speech at the seminar. The seminar was organised by the Thailand Institute of Justice, which supports and promotes SE as a model to achieve sustainable development, in partnership with Rule of Law and Development Programme Fellows.

“SE can be seen as a new tool to change the society’s perspective and encourage people to ‘do well by doing good’,” the director said.

ML Dispanadda Diskul, member of the TSEO board, said Thai entrepreneurs had the passion to work on social enterprises, but lacked the skill, so they become small fish in big ponds with a slim chance to grow.

He suggested that the private sector should help pass on the knowledge, create a suitable environment and sharpen their SE business model. “Big SEs should help small SEs. For instance, big enterprises can provide trading or marketing channels to their smaller counterparts by taking their goods to sell in the market,” Dispanadda said.

Sarinee Achavanuntakul, co-founder of Sal Forest, Thailand’s first “sustainable business accelerator”, said the biggest challenge is social-enterprise entrepreneurs abandoning their mission or having very little social impact.

So, she said, the most important thing is evaluating the enterprise’s social impact as well as the pressure it can have on the public. “But the enterprises should be regulated by market forces rather than depending on one person to prove whether or not it achieves its goal,” she said.

Sunit Shrestha, director of ChangeFusion, a Bangkok-based organisation that helps social entrepreneurs in creative and sustainable change, suggested some strategies to strengthen SEs:

l Localising SEs at the community level;

l Scaling up or elevating potential SEs; and

l Getting the private sector to partner with existing SEs in local communities or developing into SEs.

Jaranporn Lertsahakul, managing director of Green Style, a social enterprise on environment promotion, said in order to make SEs sustainable, state agencies or the private sector can help by buying goods or services from SEs or giving tax incentives to consumers who buy products from SEs. These incentives are useful because the production cost for SEs is higher.

A public hearing on the Social Enterprise Promotion draft bill was held recently and has now reached the final stage before being handed over to the National Legislative Assembly for consideration.

Nattapong Jaruwannapong, TSEO director, said the key aims of the draft bill were to help social enterprise entrepreneurs survive, encourage the private sector to shift their corporate social responsibility approach towards long-term development and to reform the public-service system.

“The answer of the bill is to turn [companies’] profits into public interest,” said Nattapong, who played a key role in pushing for the SE promotion bill.

The new bill requires social enterprises to reinvest at least 70 per cent of their profits for the benefit of the underprivileged, the disabled, farmers or other schemes prescribed by the finance minister. Registered social enterprises will also be able to seek promotional privileges and tax incentives for their investment.

Under the new law, an office of the National Social Enterprise Promotion and a committee will be formed to set related policies and strategies, and also work out a master plan to promote social enterprises.

A social-enterprise promotion fund will also be set up, through which entrepreneurs can seek loans. The main income of the fund will come from donations from the private sector and the general public.

In Thailand, there are around 300 social enterprises and the government expects another 10,000 to be created in the next decade.

The country’s modern social-enterprise movement can be traced back to 1974, when the Cabbages and Condoms restaurant was set up. The successful restaurant has been using its proceeds to fund sexual-health education and provision programme.

Another pioneer is Doi Tung, a project launched in 1989 by the Mae Fah Luang Founda-tion under Royal Patronage to create jobs and community development for hilltribes in the Doi Tung area of northern Thailand. At the time, Doi Tung, which falls within the “Golden Triangle”, was ravaged by abject poverty, opium cultivation and addiction, as well as trafficking in arms and people.

“SCB has been working relentlessly to execute its successful digital transformation,” said Arthid Nanthawaithaya, president and chief executive officer of SCB, at a press conference in Chiang Mai last Friday.

“In the past three years, SCB has invested up to Bt40 billion to digitally transform its business structure. We are aiming to increase digital transactions to 65 per cent of total transactions next year, from 55 per cent this year,” he said.

“The most important factor in digitally transforming a business structure is not technology, but a clear understanding of the needs of our customers. In 2019, SCB will focus on shifting our mindset to be more customer-centric and offer services that address the needs of our customer base,” he said.

“SCB will work to expand both its core business as well as its disruptive business model comprising of projects such as Digital Ventures, SCB Abacus and the new SCB10X project. We expect to see linear growth in the core business in 2019 while aiming to achieve exponential growth in our new disruptive businesses,” said Arak Sutivong, senior executive vice president and chief financial officer and chief strategic officer of SCB.

In 2019, SCB will be focusing on digital projects that aim to provide answers to unaddressed pain points of customers. SCB has set up the SCB10X project, which aims to provide digital loans services to SCB customers, he said.

“We aim to provide digital loans services to customers, which they can access through the SCB Easy mobile application. Customers can apply for loans and set up the repayment rate within the time period of five minutes,” Kaweewut Temphuwaphat, head of SCB10X project explained.

Through the digital loans service, customers can verify themselves digitally and will receive the disbursement instantly once the process is completed. No human interaction will be needed, he explained.

The SCB10X project is still currently in the testing stage and SCB aims to test the product in a limited market in 2019, according to Kaweewut.

The new SCB10X digital lending platform is expected to reduce the cost of offering loans services to customers by up to 50 per cent, according to the CEO.

SCB is also aiming to expand its core business such as traditional loans services.

“Currently, the loans business makes up about 70 per cent of SCB’s total revenue. We aim to expand this business by tapping new markets comprising small business owners or small SMEs,” Arak said.

SCB aims to expand its loans business by 5 to 7 per cent in 2019 by tapping into the new aforementioned market segment, according to Arak.

“Traditionally, small SMEs cannot make use of traditional bank loans services as they lack the required financial credentials, leading them to turn to informal lending options which usually comes with high risks and interest rates,” he explained.

“Hence, SCB aims to provide more unsecured lending to small SMEs and formal lending to this market segment. Our aim is to offer unsecured loans to small SMEs with manageable risks,” he said.

Meanwhile, the bank has reported to the Stock Exchange of Thailand a net profit of Bt32.983 billion in the third quarter of this year. Its stocks closed on Friday at Bt139 per unit.

“I am still negotiating the path in the new era of change and disruption in marketing and advertising,” says Kitti, 73, who is now honorary chairman of Spa-Hakuhodo and Future Communications Group.

“It’s more true now than ever that my long experience over the years confirms the shifts under way in the industry.”

Kitti says the business models of advertising and media agencies are adjusting to what is emerging as the new normal in the industry, as part of a new business landscape.

“The digital transformation created by innovation and technologies have empowered our consumers, our new generations of clients to expect measurable outcomes, be they in terms of brand preference or sales performances,” he says.

“Gone are the days that we as an agency can rely on our experience or gut feel about the expected results of a campaign.”

He says that data-driven campaigns, drawing on fewer assumptions, together with more demonstrated knowledge of the market in targeting consumers are the elements that make up the core platform of campaign development.

“I expect that it will become more difficult to manage the new landscape of agency business as evidenced in the major network shift of locus in the US and Europe. There will be more changes and disruptions caused by digital transformation,” says Kitti, adding that the consumers of today and tomorrow will more so become brand advocates, capable of speaking powerfully about them.

“Our brands over the past few years and long into the future will need to tell more stories to engage and sustain relationships with our target consumers,” he says.

Kitti says that a data-driven strategy has already become the key to success and this shift will become even more strongly pronounced in the future when industry creatives will assume nothing.

“Ensuring that we are digitally savvy and able to create an excitement about how we tell our brands’ stories will be the key to our success,” he says.

“Campaign development will never be a ‘one night stand’ or a one-shot deal like how we traditionally used to do it.

“Building a good relationship with our selected clients and our target consumer base are the necessary requirements for our industry people.”

Kitti says that advertising organisations now must be digitally savvy and harness some excitement to maintain a high level of consistent engagement.

“In another significant change, I feel that size is not an advantage anymore,” he says. “To be small, fast, engaging and true to ourselves, acting like a partner with our clients, are the necessities in operating today.”

Above all, Kitti says that ad organisations must be dynamic.

“We need to reinvent our organisations not only to survive but to be small enough to be big in credibility, creativity – and to be successful,” he says.

“Consumers, and also clients, are being empowered with technology and knowledge. They are interconnected and prefer to question everything.

“I think that brands are seeking to distinguish themselves from their rivals in the market and wish to connect with consumers over the long term at an emotional level. That means agencies will need to get better at storytelling.”

Kitti says these trends are behind some of the changed expectations that clients have of the agencies they use. Copywriting is not just a short-term act of writing but it is done so as to emotionally engage and connect with consumers. In this way, the level of interest in a brand can be sustained via the different media channels. However, coming up with a good idea is still a must for any creative agency to create impact and awareness.

“But our role into the future will be of client partnership whereby we will help create trust and build up transparency between our clients’ brands and our consumers.” Kitti says.

More broadly, the industry veteran notes that 2019 and 2020 will most likely bring more changes to the political landscape.

“Disruption in politics is happening right now when we see new and old parties and faces emerging prior to the election in February,” says Kitti, in drawing parallels with the disruptive forces reshaping the advertising and media industries.

“Changes now affecting the agencies will bring about the advent of more small to medium-sized agencies that break loose from the network agencies.

“The new startups will be more dynamic in most business sectors, including in the communications sector.”

Kitti says talented creatives and local production houses will likely band together to form their own entrepreneurial companies.

“New sets of value are emerging among the new innovative talents, along with the changes in technology and in consumer demand,” he says.

“The networks with long-established reputations will continue to thrive but, then again, we need to review the business model together with the way we handle our clients and the way we handle our talent.

“As clients expect more from the agencies, so will the expectations of our new crop of employees.

“We no longer need merely average talent. The agencies of the future need above-average talent – people who can reinvent themselves often enough to keep the bottom line afloat.

“To keep pace with competition, one must have the passion to manage the changes and hit the fast-forward button with our clients and consumers.

“Soon, in 2019, we will see the new normal and the new benchmark. This is a space where it’s not going to be business as usual for all agency networks.”

Insights into sustainable branding

“Today, consumers’ preferences are changing very rapidly and almost all members of the middle class are interconnected with the other side of the world via social networking and the Internet. The level of available information and data for knowledge are increasing fast, and perhaps faster than in many neighbouring countries. Though in the future, catching up very fast will be Vietnam and Myanmar and these countries have a comparable population base. Thailand still enjoys more disposable income per head and has a larger base of domestic consumption. This makes our country attractive for foreign brands in the FMCG segment to compete.”

“An obstacle faced by new entrants is the sheer number of brands fighting for market share in Thailand’s ‘Red Ocean’ market. Unless you make an entry with real innovative products, the competition will be very fierce in this segment. Creating brands will be a difficult task for any new players.”

“Thai consumers are easy to connect with via all sorts of good strategies and media channels. They opt to try something new for the most part. But| for companies to keep repurchase levels up, and to become brands to be reckoned with, requires a huge effort on all the 4 Ps (product, price, place, and |promotion).”

“Engagement with consumers is the key to the sustainable success of any brand. New brands have to work harder.”

The company said in a press release issued on Friday that according to Forbes, the estimated asset of the self-made billionaire is around USD2.6 billion (Bt137 billion), increased from last year’s figures of USD1.98 billion.

Thao is chairperson of Sovico Holdings, president & CEO of Vietjet, as well as standing vice chairperson of HDBank. She holds a Ph.D in economic cybernetics and a bachelor’s degree in Credit-Finance.

In 2017 and 2018, she successfully listed Vietjet and HDBank on Ho Chi Minh City Stock Exchange (HOSE). The market capitalisations of both companies accounted for billions of dollars. She is now the second richest person in the stock market of Vietnam.

The No.1 in Forbes’ list was German Chancellor Angela Merkel, followed by UK Prime Minister Theresa May, the managing director of the International Monetary Fund, Christine Lagarde, and the CEO of General Motors, Mary Barra. The first female president in the 226 year history of the New York Stock Exchange, Stacey Cunningham, was listed in 27th place.

The company is also offering french fries at 50 per cent off every Friday; ice-cream sundae at Bt19 every Sunday; corn pie or pineapple pie for Bt9 from January to April; 50 per cent discount of Chicken McNuggets from May to August; and 50 per cent discount of McCafe beverage including hot, cold or frappe from September to December.

Customers can get the new design of Drive-Thru stickers for free for promotions throughout 2019 at McDonald’s restaurants.

It has successfully established a foothold in Vietnam after realising the high potential of continuing economic growth in this region where people have more income and like to use Thai products.

It also intends to subsequently enter Laos, Myanmar and Cambodia and aims to be No 1 in sales of window film within five years.

Sales in Vietnam have reached Bt20 million in just six months.

Hi-Kool also has been able to maintain its leadership in Thailand, capturing a market share of 35 per cent by volume, and expects its sales in 2018 to meet the target of Bt650 million. For 2019, it anticipates a growth of 17 per cent.

Chalok Vanichakornphongs, Managing Director, said Lee Vanich has been marketing the Hi-Kool window film for both automobile and residential installations for over 35 years in Thailand and become an expert in the field.

Hi-Kool films are produced by customised orders by the best converters in America that use the latest technology known as “sputter-coated metalising” in accordance with the specifications provided, he said.

He said Hi-Kool film has been very popular in Thailand because it is most suitable for the weather conditions here, repelling heat by up to 84 per cent and UV rays by 99 per cent.

Hi-Kool film is the most popular brand and has a market share of 35 per cent and a warranty period of seven years, he said.

Chalok said people in the CLMV countries love to use Thai products. Vietnam has become the first country in which Hi-Kool was successfully represented as its automobile industry has high potential for growth and its people have more income to buy cars.

He said that in 2019 Vietnam will manufacture its own cars, which is a good sign of growth in the country. In the first 10 months of 2017, overall sales of all type of automobiles in Vietnam grew by 5 per cent, of which sedans represented 22 per cent (147,422 cars).

“We have a plan to fully market the Hi-Kool products in the CLMV countries in 3-5 years with a sales target of Bt100-150 million. A business development team has been set up to take care of this project.

“We have successfully launched our full marketing campaign in Vietnam and Hi-Kool films have been very well accepted by the local consumers. In the last six months we’ve had sales value of Bt20 million. Although this figure is not much, we can see the potential that can be expanded to this region. We have set our goal to be No 1 in market share in Southeast Asia within five years”, Chalok said.

Chalok said that in the first two years, Lee Vanich will emphasise building the brand in Vietnam, Laos, Myanmar and Cambodia before moving on to the Philippines and Indonesia.

“The most important thing in our strategy is we have to find the right local partner, who must have the real intention and capability and potential to cooperate with us in marketing our products,” Chalok said.

He thanked the Department of International Trade Promotion at the Thai Commerce Ministry for guidance and assistance in conducting a market survey and business-matching in promoting the sales of the Thai brand Hi-Kool products abroad.

“For the Thai market, in 2018 Hi-Kool has still been able to maintain its position as No 1 market share of 35 per cent in terms of the number of cars that installed Hi-Kool films, with a growth rate of 12-15 per cent.

“In 2018 there were about 980,000 new cars sold and installed with films, representing 12 per cent increase and about 800,000 cars 6-7 years old that have to change the films, representing 15-20 per cent as after-market sales,” Chalok said

He said that the sale total for this year is expected to be around Bt650 million, growth of about 12-15 per cent, representing Bt630 in domestic sales and Bt20 million in international sales.

For 2019, the company has set a sales target of Bt730 million, representing growth of 17 per cent, and in order to achieve this, the company has to try to maintain its market share, continue to upgrade and improve its products quality, continue to build its brand Hi-Kool and further expand its business to foreign countries, he said.

“Competition is very intense as there are newcomers entering the market. However, Hi-Kool is in a better position as it has been well established and is the best-known Thai brand. It can provide quality products with high heat rejection and other added functions that other brands do not have.

“For example, Hi-Kool UV Care, which is a ceramic film, can repel UV rays up to the range of 400 NM, which is the harmful range that damages your eyes. Normal films have UV protection up to only 380 NM.

“In addition, two years ago, we launched Hi-Kool Black Carbon series, which is clear when looking out from inside the car and a black tone when looking from outside. This series has been overwhelmingly accepted by customers.

“In 2019, we will launch, possibly at the next Motor Show, another series of premium-grade film that we believe can repel the highest heat among all the window films in the market,” Chalok said.

CPN in a press release said it is joining hands with Advanced Info Service (AIS), The Tourism Authority of Thailand (TAT), Royal Thai Police, Toyota Motor Thailand, Chang International, Haad Thip, Plan B Media, GMM Grammy, the Ratchaprasong Square Trade Association (RSTA), Index Creative Village Plc and Channel 3 Thailand.

Visitors can enjoy a spectacular fireworks display and a 360-degree light-and-sound show that will echo across the Ratchaprasong district, and can dance into the New Year together with over 200 popular artists and Asia-famous DJs.

Special shows from AIS presenters will be presented nationwide through live broadcasts of ‘AIS Bangkok Countdown 2019 @centralworld’ on 3SD channel from 10.30pm and also on 3HD channel from 11.30pm to 12.30am. The broadcast will be available through Multi View on the AIS Play application and AIS Playbox from 6.30pm to 12.30am on December 31.

Nattakit Tangpoonsinthana, executive vice president of marketing for CPN, said CPN is investing over Bt400 million in marketing activities, special promotions and lighting decorations at all 32 CPN shopping centres nationwide, aiming to increase customer traffic at our shopping centres by 20 per cent during the year-end period.