A virtual multimedia exhibition early this month proved a big hit, earning commitments of more than 600 million baht for the country, Deputy Prime Minister and Commerce Minister Jurin Laksanawisit reported on Wednesday.
Thirty Thai firms and 50 foreign companies took part in the Multimedia Online Virtual Exhibition (Move) 2022 from August 1 to 3, which was held via the Department of International Trade Promotion’s www.move-ditp.com website, Jurin said.
The Thai companies included entertainment, TV series, movies, animation and post-production firms.
Jurin said five outstanding Thai companies were selected to pitch their products and services online during the event.
The 30 Thai firms engaged in 206 negotiations with 50 foreign companies from 19 countries through the DITP’s business matching service, he said.
The business talks led to commitments of deals worth 496.26 million baht in five years, including 6.66 million baht of instant deals, Jurin said.
Most of these agreements are contracts to hire Thai firms to produce TV series and the sale of movie licences to foreign firms, the minister said.
The five selected Thai firms gained additional commitments of 107.8 million baht – production funds worth 13.8 million baht and co-production funds amounting to 94 million baht.
The DITP has held the Move exhibition for the third time now.
The annual event is aimed at supporting the digital content industry under the government’s creative economy policy and the policy to turn Thailand into a hub for digital content, in a move to use soft power to promote the country.
August 10, 2022 – Suphachai Chearavanont, Chief Executive Officer of Charoen Pokphand Group (C.P. Group), strongly believes that climate change, particularly the increase in temperature, is an urgent matter in which every stakeholder must take action.
To tackle global warming, C.P. Group and its affiliates have undertaken a number of initiatives that includes circular economy, clean energy, water resource management, ecosystems and biodiversity protection, and sustainable supply chains. The aim is to achieve zero waste and carbon neutrality within 2030, and net zero emissions by 2050. As public awareness of this issue is critical, the #2MetersToSaveEarth campaign was launched to help Thai people and employees of C.P. Group and its affiliates acknowledge the effects of climate change. The general public, in particular the younger generation, can help tackle global warming by personally taking responsibility. Panipak “Tennis” Wongpattanakit, Thailand’s sporting hero, has been chosen as brand ambassador and will help drive this mission.
“The only way to create a sustainable planet is to cultivate a new generation of environmentally aware citizens of the younger generation and provide them with education and know-how in sustainable development. They are vital in driving change for society, the country, and the world as the threat of climate change is real and it is affecting all of us right now. The evidence clearly shows that ecosystems on which humankind depends upon is vulnerable. We’ve witnessed the impacts on agriculture, tourism, and health in Thailand, in this region and around the world. It’s time everyone lent a hand to take care of our surroundings and make the planet a better place,” the CEO said.
As the brand ambassador and the representative of the new generation, Panipak “Tennis” Wongpattanakit, the Olympic gold medallist in taekwondo, notes that global warming is not only a big problem for the planet but also for all humankind. However, we can start saving the earth by taking care of the two-meter circle around us. It can be any simple action, from recycling used plastics, reducing waste, opting for clean energy by using a bicycle instead of a car to increasing green spaces by planting more trees. Everyone is invited to fight against global warming. If everyone lends a hand and takes care of the two-meter space around them, the dots will be connected, and the world will be a better place.
The people of Thailand and employees of C.P. Group are invited to take part in #2MetersToSaveEarth by taking a photo or video clip of themselves stretching their arms to their sides, signifying the two-meter space around them that they are using to save the earth. The action can be planting a tree or recycling used plastics. The photo or clip should then be shared on social media. This is how we can start to save the earth.
Citibank recommends diversifying investments to handle market volatility and increasing interest rates.
Bangkok, August 9, 2022 – Citibank recently shares global economy forecasts for the second half of 2022 as the rest of the world continues to face challenges. The two powerhouses also face difficulties: the US local economy slows down due to many factors, while China, with gradual recovery, continues to be under pressure from its Zero COVID policy. For Thailand’s economy in 2022, the GDP is expected to be 3.5% thanks to the return of tourism. It is also expected that the Monetary Policy Committee will raise interest rates by 25bps three times in this year and next year to support the recovering economy in Thailand. As a result, the investment market continues to be challenging. For the second half of the year, recommended investment options are reducing cash on hand by investing in bonds that will potentially offer better returns, investing in long-term industry leaders to reap benefits from well-performing industries such as clean energy, electric vehicles, digitalization, fintech, and healthcare and medicine. Another option is to invest outside main assets to diversify and protect portfolio in the long term, while keeping a close eye on global affairs.
Mr. Ken Peng, Head of Investment Strategy, Citi Global Wealth for Asia Pacific, said that in the second half of the year, inflation will continue to be high in many countries. There will still be a supply chain imbalance, and stricter finance and banking policies in different countries. Oil prices concern will continue due to the ongoing issues between Russia and Ukraine. Global volatility will remain as the US will face an economic downturn due to ongoing inflation, unemployment, and wage increase. At the same time, consumer confidence index drops, especially in consumer products, real estate and services, except for natural gases. Meanwhile, as the Fed proactively increases interest rates to curb inflation, Citi analysts believe that the inflation situation in the US will take about 10 years to reach the same point as before the Russia-Ukraine conflict began. China, on the other hand, begins to see the recovery of its economy, but the Zero COVID policy puts pressure on its growth. The PMI in the service sector has increased. The Chinese government has announced various measures to stimulate the recovery of the investment market, especially in real estate, as it is an important factor that drives the growth of the country’s economy.
Therefore, the investment market will continue to face challenges, such as volatility of stock markets and government bonds. Citi analysts remain optimistic about high-quality bonds that will benefit from current market situation, such as the rough doubling in the US government bond yields which has restored higher quality fixed income to a more appropriate yield level for the first time in several years. However, there are other pressure factors from the market, such as uncertainties amid geopolitical tensions. Investors should therefore closely monitor international affairs and diversify their investments to protect their portfolio in the long term. Recommended investment strategies for the second half of the year are:
• Bonds are Back! – Reduce cash on hand by investing in bonds that offer promising returns such as treasury bills and 10-year US treasuries. • Long term leaders –Investment in long-term industry leaders in high-quality sectors with steady returns and high potential for long-term growth, particularly options that offer regular and growing dividends, such as clean energy, electric vehicles, digitalization, fintech, healthcare and medicine, and technology related to cyber security. • Alternative Investments in Uncertain Times – Consider alternative investments outside main assets as the market is volatile. This will help prevent long-term risks. Another option to consider is equity instruments and private equity.
Ms. Nalin Chutchotitham, Investment Advisor of Citi Thailand, said that Citi has raised tourist arrival expectations for Thailand in the second half of 2022 and in 2023 as arrivals proved stronger than expected after travel restrictions were removed, and neighboring countries have reopened their borders once again. Current account is likely to remain in deficit in 2022 due to high commodity prices and freight payments, but a high surplus is expected in 2023 from stronger tourism revenues. Citi has revised down GDP forecasts for 2022 to 3.5% (from 3.6%) and for 2023 to 4.5% (from 4.8%) due to expectation of slowdown in government spending and global growth. Citi also maintains its expectation for three 25bps policy rate hikes by the Monetary Policy Committee – once in the second half of 2022 and twice in the first half of 2023 as previously forecast.
Ms. Jane O’Charoen, Retail Banking Head, Citi Thailand, said that in the second half of 2022, Citibank has prepared new funds to offer to Citigold and Citi Priority customers, leading to investment growth. Recently, it has partnered with a leading asset management company in the US, Wellington Management, to offer two new funds: Wellington Global Health Care Equity Fund which invests in the equity securities of healthcare companies worldwide, and Wellington Asia Technology Fund which invests in the best-run Asian companies powering the exponential growth of the multi-year tech cycle. Both funds focus on up-and-coming investment trends.
Additionally, Citibank also offers international investment options with more than 200 funds to choose from with five local asset management partners and 13 foreign asset management partners, offering diverse types of funds in terms of assets and regions. At the same time, Citibank facilitates its customers by taking care of their accounts, offering consultation and ad services on investment transactions via phone, and making wealth management more convenient with the Citi Mobile® App. Customers can sell and buy funds directly, monitor their investment portfolio, transfer money via PromptPay to other banks, or transfer money overseas conveniently. They can also open an account for foreign currencies 24 hours a day.
Citgold customers can get special fund trading privileges on the Citi Mobile® App. Enjoy 5% or up to 150,000 baht rebates on fees when buying participating funds at the minimum of 100,000 baht, and get up to 150,000 baht of credit rewards when making a new investment in participating funds. New customers can get up to 15,8000 baht of credit rewards when opening a new account and making transactions using their Citi credit card. Get 2% monthly interest rate for three months for a fixed deposit account. These offers are valid from July 1, 2022, to September 30, 2022. Those who are interested in Citigold can contact Citibank Thailand at 0-2081-0999 or www.citibank.co.th/th/citigold.
Citibank Thailand has recently organized “Citigold Mid-Year Outlook 2022” to share economic and investment trends for the second half of 2022. For more details, contact Citibank Thailand or visit www.citibank.co.th.
SET-listed fintech and payment machine operator Sabuy Technology (SABTECH) has announced a 657-per-cent rise in second-quarter net profit this year to 356 million baht.
The company also reported second-quarter revenue of 756 million baht, up 95 per cent.
Sabuy this year unveiled its strategy to become a fintech firm by expanding its four core businesses – payments, merchandising, business solutions, and financial services.
CEO Chookiat Rujanapornpaje said the company is developing technology and lifestyle-related services for customers under the concept “Sabuy Life from Wake-up to Sleep”.
Sabuy is targeting total revenue of 5 billion baht this year.
“The company has also set its revenue target for next year at 20 billion baht,” Chookiat added.
He said the company is developing its workforce, applying technologies and innovations, improving workflow and managing risks to maintain sustainable growth in the long term.
“Sabuy has continued to expand business constantly along with implementing its strategy to maintain significant growth,” he said.
Wirach Morakotkarn, chief of commerce & investment, said Sabuy planned to increase customer touchpoints nationwide to 500,000 within this year.
Sabuy will also invest in a media entertainment company to boost the potential of its InnoTainment (innovative media) business, expecting to announce the results within a couple of weeks.
Sabuy develops all-in-one business platforms offering consumers health, wealth, work and recreation services.
The company operates six main business groups: Payments and Wallet, Enterprise & Life, Connext, Financial Inclusion, InnoTainment, and Venture – an investment business to support sustainable growth.
Reiterating superior measures in environmental impact assessment and sustainable development
Gulf Group, represented by Mr. Tanon Tantisunthorn, Chief Corporate Affairs Officer of Gulf Energy Development Plc., accepted 16 trophies from EIA Monitoring Awards 2021 awards, reaffirming superior reports and measures in environmental impact assessment. The awards were presented by Mr. Varawut Silpa-archa, the Minister of Natural Resources and Environment, at the conference hosted by Office of Natural Resources and Environmental Policy and Planning (ONEP) for the year 2022. The awards reflect Gulf Group’s commitment to strive for sustainable development in all dimensions.
Gulf Group, represented by Mr. Tanon Tantisunthorn (left), Chief Corporate Affairs Officer, accepted EIA Monitoring Awards 2021 from Mr. Varawut Silpa-archa (right), the Minister of Natural Resources and Environment. The awards ceremony was held at the Grand Ballroom, Miracle Grand Convention Hotel, Bangkok.
This year, 16 power plants under Gulf Group received the awards, whereby 3 power plants including Gulf Chiang Rak Noi (GCRN), Gulf Khok Yae 1 (GKP1) and Gulf Khok Yae 2 (GKP2) received silver class and the remaining 13 power plants received bronze class, namely, Gulf Nong Rawiang 1 (GNRV1), Gulf Nong Rawiang 2 (GNRV2), Gulf Ban Pho (GBP), Gulf Ban Len (GBL), Gulf Nong Khae (GNK2), Gulf Nong Pla Mo (GNPM), Gulf Taling Chan (GTLC), Gulf Nong La Lok (GNLL), Gulf Nong La Lok 2 (GNLL2), Gulf Tasit 1 (GTS1), Gulf Tasit 3 (GTS 3), Gulf Wang Ta Pin (GVTP) and Gulf Nakhon Nueng Khet (GNNK).
The bronze class reflects the power plant’s good compliance with environmental measures, zero complaints from the community during the 1-year period prior the audit. While the power plants receiving silver class have demonstrated other commitments in addition to those required by environmental measures.
The Central Administrative Court on Monday rejected the Bangkok Mass Transit System (BTSC)’s request for an injunction to suspend bidding for construction of the Orange Line.
BTSC, the BTS Skytrain operator, argued that the project owner, Mass Rapid Transit Authority of Thailand (MRTA), should halt bidding until the courts rule on an earlier lawsuit filed by BTSC.
The Administrative Court dismissed the request on grounds that the MRTA’s request for proposals (RFP) and the bidding process did not violate the Public Private Partnership Act.
The MRTA called the second round of bidding in May.
The court said the second round was conducted properly, with a 60-day interval before the MRTA invited bidders to submit their envelopes on July 27.
However, BTSC filed a lawsuit challenging the terms of reference (TOR) and RFP with the Central Administrative Court and a complaint with the Department of Special Investigation.
BTSC earlier won two cases against the MRTA – for unlawfully cancelling the first round of bidding and unlawfully changing the TOR.
The MRTA said that 14 companies bought the RFP documents for the second round but only two consortiums submitted bids on July 27.
On August 1, the MRTA opened the first envelope on technical data from the two consortiums, namely Bangkok Expressway and Metro (BEM)/H Karnchang Plc and Italian Thai Development Plc/Incheon Transit Corp (South Korea). The MRTA said it would examine the technical proposals before considering the bid prices offered.
Electric vehicles are expected to make up more than half of Thailand’s domestic auto sales by 2030, under the country’s plan to become Southeast Asia’s EV hub.
The millions of electric vehicles due to hit Thai roads in the next few years will require not only more energy but also more intelligent management to ensure that electricity is used efficiently.
To serve that ambitious goal, Schneider Electric – a multinational digital transformation and energy management company – is building a smart electrification solution for Thailand’s EV ecosystem.
Thailand has a very strong car industry and can be optimistic as starts on its EV journey, said Luc Rémont, Schneider Electric’s Executive Vice President, International Operations, in charge of South America, Africa and Middle East, India and East Asia & Pacific.
KResearch projects that by 2030, Thailand’s EVs will account for 55 per cent of domestic vehicle sales, over 50 per cent of domestic manufacturing, and 47 per cent of total vehicle exports.
However, Rémont pointed out that Thai motorists will only switch to EVs if there is a large network of charging stations and a digital link with drivers.
It is this digital bridge between charging stations and drivers that Schneider Electric is busy building.
“We will provide options to our customers to use relevant charging infrastructure and ways of monitoring that infrastructure depending on the customer,” Rémont explained.
Besides manufacturing charging devices and charging software platforms, Schneider is working closely with EV car manufacturers and battery manufacturers to provide infrastructure for their factories. The company is thus engaging in every part of Thailand’s EV journey, both upstream and downstream.
Schneider’s main focus in Thailand is efficient utilisation and sustainability of the Kingdom’s EV ecosystem.
“When you want to take resolute action for climate change, you need to tackle all the places where we ‘spend’ carbon,” Rémont said.
But reducing and controlling carbon emissions depends on companies’ ability to measure their energy use and use as much renewable energy as possible, he added.
“That’s how we are working on building an industry, and this is moving quite fast.”
Schneider Electric is now ready to share the fruits of more than 10 years as an electrification and sustainability pioneer with customers, he said.
“When you bring technology and know-how together today, you can manage many things very differently from what we did in the past,” he added.
Schneider, with global revenue €29 billion in 2021, has shown its commitment to sustainability by aiming to be carbon neutral by 2025 and net-zero by 2030. That is significantly earlier than most countries’ 2050 and 2065 targets for carbon neutrality and net zero under the Paris Accord, which aims to limit global warming to 1.5C by the end of the century.
Schneider is also encouraging and supporting over 1,000 suppliers around the world to follow its own lead.
Rémont added that his company was named the world’s most sustainable corporation in Corporate Knights’ 2021 ranking and as a Leader in the Independent Research Firm Report: Green Quadrant: IoT Platforms for Smart Buildings 2022
“Sustainability is an objective for mankind with big challenges, starting with climate change, which affects each and every country, each and every individual. And we believe that Schneider should lead the driving agenda for corporates, for governments, and for individuals.”
He said however that sustainability was not just a challenge or a constraint. It is also an opportunity for Schneider to improve electrification efficiency.
Tha Chang Green Energy (TGE), Thailand’s green energy firm, has revealed its growth roadmap, with the goal of being at the forefront of the country’s new energy industry.
The company aims to play a leading role in steering the country towards the global mega-trend of being environmentally friendly.
The disclosure at Thursday’s online press conference also comes at a time when the company is preparing to list on the Stock Exchange of Thailand and launch its first initial public offering (IPO) next week.
Pongnarin Wansuwankul, chairman of the TGE’s executive committee, stated that the plan sets growth targets for the short, medium, and long term so that investors can be assured their investment in TGE will yield returns.
The firm’s earnings at present are derived from three biomass power generation plants in Surat Thani province. To generate electricity, the plants burned agricultural waste such as palm leaves and wood chips from rubber farms.
The biomass power plants have a total capacity of 29.7 megawatts.
TGE has already signed a contract with the Electricity Generating Authority of Thailand to sell 20.3MW under the Feed-in Tariff condition, with the remainder going to Tha Chang Group, a subsidiary of the company’s palm oil business.
TGE sells water and steam, which are byproducts of electricity generation, in addition to selling electricity.
Meanwhile, three municipal solid-waste power generation plants with a total installed capacity of 22MW are under construction in Sa Kaew, Ratchaburi, and Chumphon provinces. These plants will be ready to generate electricity for nearby communities in 2024.
TGE’s chief executive officer, Sakda Siripatsophon, stated that the company intends to build more biomass power generation and municipal solid-waste power generation to reach a capacity of 200MW within the next decade. Currently, the total electricity capacity is at 51.7MW.
Ratchada Klewpatinond, managing director of Investment Banking Division 2 at KGI Securities (Thailand), revealed that TGE’s IPO will be available for purchase from August 9 to August 11.
The price per share is set at 2 baht, with a target to raise 1.2 billion baht. Sixty per cent of the funds will be used to develop and improve its green power generation and the remaining 40 per cent will be used to pay off the loan and working capital, said Ratchada.
Toyota Motor Thailand (TMT) will stop manufacturing its Vios 1.5L model to make way for the all-new Yaris Ativ to be launched next Tuesday (August 9).
Sales of Vios cars totalled 1,829 in the first six months of the year, compared to 10,648 of the Yaris Ativ sedan and 14,715 of the Yaris hatchback, the company said on Thursday.
The hybrid version of Yaris Ativ is expected to be launched next year.
Toyota vehicle sales in Thailand totalled 142,032 in the first six months of the year, up 21.2 per cent from the same period last year. It sold 38,894 passenger cars in the first six months, a 30.9 per cent increase.
TMT aims to sell 290,000 cars this year, representing a 33 per cent share of the Thai market and up 21 per cent from last year, according to the company’s president, Noriaki Yamashita.
Toyota is expected to manufacture a total of 659,400 cars this year, a 28.3 per cent increase from last year, Yamashita said.
“Due to the government’s economic stimulus measures, the Thai economy is expected to recover in the latter half of the year,” he said.
The TMT president predicted a total output of 880,000 from all car manufacturers in Thailand this year, up 16 per cent over last year.
Mitsubishi Motors (Thailand) Co., Ltd., in collaboration with the Ministry of Public Health, Electricity Generating Authority of Thailand (EGAT), and Thailand Greenhouse Gas Management Organization (TGO: public organization), held a memorandum of understanding (MoU) signing ceremony for a new environmental project called ‘Solar for Lives’.
In partnership with Thailand’s Public Health Ministry, EGAT, and TGO, Mitsubishi Motors (Thailand) has invested 60 million baht to provide solar panel systems, including yearly maintenance, to generate electricity for 40 community hospitals countrywide by 2032.
The solar panels can generate electricity up to a 25-year period. The project will help reduce the hospitals’ carbon dioxide (CO2) emissions more than 17,300 tons over the next ten years. Furthermore, it will reduce the electricity expenses up to 400,000 baht per year for each hospital.
At the MoU signing ceremony, Mr. Eiichi Koito, President & CEO of Mitsubishi Motors (Thailand) remarked: “As a part of Thai society, we want to see the better lives of Thai people. ‘Solar for Lives’ project has been initiated as our CSR direction ‘To contribute and grow with Thai society’ in three areas: Education, environment, and health. The project will provide Thais better health through supported hospitals while creating a better environment towards carbon neutral direction.”
“Our company has a clear direction and consistent actions towards a carbon-neutral society,” he added. “We installed solar panels at our production facility’s rooftop in Laem Chabang, Chonburi, reducing C02 emissions by more than 6,100 tons per year. Our Outlander PHEV is the most environmentally friendly vehicle, according to the Life Cycle Assessment (LCA). In addition, we also support carbon emission reduction through 60 Years 60 Rai reforestation project.”
Community hospitals to receive solar panels have been selected based on the recommendations by the Public Health Ministry, their power requirements, and physical structure.
Dr Thongchai Keeratihattayakorn, Public Health Ministry Deputy Permanent Secretary, said: “Hospitals use a huge amount of energy for 24/7 operations. With stable electricity from solar panels, community hospitals can increase the efficiency of medical services and minimize the gap in healthcare access for people in surrounding communities. This project can support the Ministry’s missions by creating sustainable energy for hospitals, in line with the government’s strategic direction towards a carbon-neutral society.”
Under the ‘Solar for Lives’ project, Mitsubishi Motors Thailand has recently donated the first solar system to Namphong Hospital in Khon Kaen, while the second solar system went to Phaya Mengrai Hospital in Chiang Rai province.
Namphong Hospital
Phaya Mengrai Hospital
Besides the solar systems, Mitsubishi Motors Thailand has also lent one unit of Mitsubishi flagship electric car, Outlander PHEVs, to each hospital to be used for their medical services. This environmentally friendly vehicle can provide a maximum 1,500 watts of power for electrical appliances for outdoor activities. The Mitsubishi Outlander PHEV does not only provide a reliable source of electricity in an emergency or blackout, but it can also be an alternative option for medical personnel who travel to nearby communities in a 20-kilometre range to provide medical treatments, as the vehicle has an electric-only range of up to 55 kilometres in addition to a hybrid range of over 500 kilometres.
Mitsubishi Motors Thailand commits to its environmental goal of supporting Thailand in becoming carbon neutral. There are a number of green programmes in place to reduce carbon emissions throughout all of the manufacturing operations, including Reforestation, Solar for Lives project, and the production of the electric car – Outlander PHEV that made its debut in Thailand in 2020. The company also installed a rooftop solar system at its Laem Chabang factory in Chonburi, the largest manufacturing centre outside of Japan, which can reduce carbon emissions about 6,100 tons per year.
Gulf Group, represented by Mr. Tanon Tantisunthorn (left), Chief Corporate Affairs Officer, accepted EIA Monitoring Awards 2021 from Mr. Varawut Silpa-archa (right), the Minister of Natural Resources and Environment. The awards ceremony was held at the Grand Ballroom, Miracle Grand Convention Hotel, Bangkok.
Namphong Hospital
Phaya Mengrai Hospital
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