Within the framework of this new long-term partnership, the Swiss watchmaker also becomes an Official Partner of the FFT.

Having been a loyal partner to the tennis world for the last forty years, Rolex will become a Premium Partner of Roland-Garros in 2019 and the Official Timekeeper for the Roland-Garros tournament in Paris.

A press release said that the bond between Rolex and tennis is built upon a shared passion for excellence,

perfection, precision and elegance.

Already a partner of The Championships, Wimbledon in London since 1978, the Australian Open in Melbourne and the US Open in New York, Rolex now enjoys a close relationship with all four of the major tournaments on the international circuit, which together make up the Grand Slam.

The Geneva-based company is now directly associated with each of the world’s most prestigious tennis tournaments. It also sponsors some of the world’s top players, many of whom have triumphed on the famous clay court in Paris, such as Chris Evert, Björn Borg, Jim Courier, Justin Henin, Ana Ivanović, Li Na and Roger Federer.

As part of this new partnership, Rolex will enjoy extensive visibility inside the Roland-Garros stadium, which has recently undergone an impressive renovation. The company will also have its own hospitality area in the famous “Roland-Garros Village”.

Bernard Giudicelli, President of the French Tennis Federation said, “We are delighted to welcome Rolex, an iconic luxury brand, as a partner of the FFT and of Roland-Garros. Our association with this prestigious company, which is already a partner of the Rolex Paris Masters, will take on a whole new dimension in 2019 by

putting down roots in the heart of our illustrious competition in the Porte d’Auteuil.”

This long-term agreement will not only help develop the Roland-Garros brand worldwide, but will also benefit French tennis.

Arnaud Boetsch, Communication & Image Director, Rolex SA said “By becoming the Official Timekeeper of Roland-Garros, the tennis season’s major clay tournament, Rolex has definitively strengthened its ties with international tennis.

It is an honour and a pleasure for the brand to join forces with this prestigious Grand Slam tournament which, every year, writes another page in the history of tennis. This new association provides us with an additional opportunity to promote the discipline and support it with as much commitment and enthusiasm as we have over the last forty years.

As usual, Rolex has committed over the long term and we are delighted to further develop our collaboration with Roland-Garros and our shared vision.”

Therefore, an increase in the palm-oil proportion mixed with biodiesel from 7 per cent to 10 per cent or 20 per cent would not affect the price at the pump for consumers, said Pongchai Chaichirawiwat.

The government should rapidly certify the quality of B100 biodiesel to serve the increase in the crude palm-oil proportion, and BBGI had already prepared for the required production-process improvement to meet the changed quality of biodiesel, he added.

However, while the production cost might be increased, it would provide more benefits in the long run by supporting the growth of the country’s biodiesel consumption without causing any detrimental effects to engines or the environment, the CEO said.

Currently, local crude palm-oil volume produced for the market is high when compared with the demand from consumption and the energy sector, while the global crude palm-oil price has plunged.

This has also caused the halt of crude palm-oil exports and led to the rise of crude palm-oil inventory by 30,000 to 40,000 tonnes per month, leading to the country’s palm-oil stocks reaching 400,000 tonnes, compared to the appropriate level of 250,000 tonnes, Pongchai said.

Every 1-per-cent increase in the proportion mixed with biodiesel can absorb surplus crude palm oil to the tune of around 15,000 tonnes per month, he added.

“As we are a company in the private sector and a biodiesel producer, in our opinion, we see the increase of the proportion mixed with the biodiesel as a stimulus of local palm-oil consumption, which can replace exports and benefit long-term crude-oil price stability, as well as help reduce the deficit of the country,” Pongchai said.

 He added that the bank is ready to offer supports to these future entrepreneurs through its incubation process, access to loan services, business matching which can lead to business partnership as well as joint ventures through the bank’s venture capital and loan programme. The bank has allocated Bt2 billion for its venture capital budget. The contest is a part of its business strategy to enhance the growth of SMEs and Start- ups.

Total sales volume was 288,000 tonnes and net sales were valued at Bt5.82 billion.

The volume of exports to countries in the region, mainly India, Cambodia and Laos, in the first half of the year has shown a continuos rise, the company said.

The company also cited impacts from US trade measures on Thailand’s largest steel manufacturers.

Rajiv Mangal, the president and CEO, said that sales volume in the current quarter of fiscal year 2019 was up by 7,000 tonnes compared to the previous quarter.

Total sales volume in the first half of fiscal year 2019 was 569,000 tonnes, and exports were 74,000 tonnes, up from 48,700 tonnes in the first half of last year, marking a 52-per-cent surge.

The sales volume was mostly in the export sector to India, Cambodia and Laos.

Net sales for the quarter was Bt5.82 billion, 7 per cent higher than net sales of Bt5.44 billion in the previous quarter.

Net sales in first half of fiscal year 2019 amounted to Bt11.26 billion, compared to Bt10.39 billion in the same period last year, up 8 per cent.

Earnings before interest, taxes, depreciation and amortisation in this quarter amounted to Bt234 million, higher than the Bt216 million in the previous quarter, or up 8 per cent, reflecting improvement in sales volume and selling price. Profit before tax in this quarter was Bt67 million while profit after tax was Bt51 million.

It will combine an endless and inspiring collection of fashion and lifestyle items and gift products exclusive to Siam Center, the company said.

The latest launch will feature multiple unique works and product series, brought together through collaborative efforts by leading Thai designer brands along with other alluring exclusive collections, available only at Absolute Siam Store, Siam Center first floor, the company claimed.

Parisa Chatnilbhandu, Siam Piwat’s group senior vice president and retail business development, said the unique retail style of Absolute Siam has had a positive impact and local and international shoppers were delighted to find exclusive items.

The new retail experience, with an investment of Bt50 million, covers 350 square metres, divided into three sections: merchandise, store decoration, and activity zone.

Absolute Siam Store aims to attract a mix of leading fashion and lifestyle brands, with over 18 brands and more set to shuffle their lineup to bring a new revitalised sense of shopping excitement .

With a special zone dedicated to décor items, Absolute Siam Store aims to cater to the demands of Thailand’s younger generations, Parisa said.

Parisa said the store’s strength lay in the extraordinary variety of products available to shoppers, including exclusive products from special collaborations. These products are categorised into gift products, distinct fashion products curated by Thai designers reflecting international qualities with Thai characteristics, with the subtlety of pop culture art. Such products include T-shirts, keychains, glassware, tote bags, textile work, muay thai shorts and more goods that’ll serve as memorable gift products, Parisa said.

Surachai said on Tuesday that the TV industry would see tougher competition from now on, as the high season approached and businesses spent more to encourage consumer spending.

TV channels must therefore adjust their content in order to increase ratings and expand their viewership base into 2019, in which more advertising spending is expected, he added.

Recently, the Media Agency Association of Thailand reported that this year’s media spending had grown by 4 per cent, with TV the biggest media in terms of advertising budget, and that this would continue into next year.

Channel 8 is ready for the season of happiness this year with new content via its omni-channel, four-screen strategy, RS’s CEO said.

The channel is confident that it will be able to increase its ratings and boost advertising for 2019 as planned.

Channel 8 has prepared new content such as news, dramas, series, boxing programmes and variety shows in order to win more audience.

A new team is being introduced in “Khor Pratu Du Khao Chong 8”, which will be screened from February four times a week, visiting fans countrywide to strengthen its news content and attain higher ratings.

The concept of the one-minute program is sending a team to knock on your door to see if you are watching Channel 8, and to give away prizes if you are.

A new TV drama, “Sin Lai Hong”, will be aired during evening prime time five days a week, starting next Tuesday.

It features prominent actors such as Baitoey RSiam, Nike Nitidon Pomsuwan, Krit Amornchailerk, Wanchana Sawatdee, Nussaba Punnakan and Pakkaramai Potranan.

New Indian series are being added to morning prime time on weekends, starting with “Peshwa Bajirao”, a multi-million-baht series that has already broken many records in India. “Vighnaharta Ganesha” and “Isspyaar Ko Kya Namm Doon”, a popular romantic drama, will follow.

For sports fans, major Ultimate Fighting Championship bouts will also be broadcast throughout December.

Meanwhile, two new variety shows are added for Saturdays to target everyone in the family.

“Khrua Lan Thung” is a cooking show featuring famous products of each community, led by Chaiya Mitchai as the host, while “Ung Thung Siao” features strange-but-true stories.

At present, Channel 8 is the only TV channel which offers more than 10 hours of news content a day, the highest among variety digital channels.

Central Food Retail, the operator of Central Food Hall and Tops supermarket, welcomes the festive season with a marketing campaign in which it has invested Bt100 million to introduce New Year baskets under the theme of “Gifts That Give Back”.

High-quality products from Thailand and around the world are chosen to create more than 120 New Year baskets, costing from Bt350 to Bt19,500.

Based on sustainable marketing approach, the baskets bring happiness to producers, givers, receivers and the society, in line with consumer trend in supporting local communities.

For the first time, New Year baskets representing the four regions of Thailand are introduced while DIY baskets are available for modern consumers who love the “I am so special” trend, allowing them to mix and match items in the baskets to suit their individualistic lifestyle.

Great discounts and gift vouchers are offered with up to 35 per cent discounts, 20 per cent credit back, and 0 per cent interest rate for participating credit cards. The campaign is expected to generate 15 per cent growth in sales.

Wealth Dynamix opens office in Singapore

Client Lifecycle Management specialists, Wealth Dynamix, is continuing its international expansion with the recent launch of a office in Singapore, following its office openings in New York, Toronto and Zurich earlier this year.

To spearhead the growth of the business across the region, Dominic Gamble is appointed head of Asia Pacific and will be based at the newly opened office in Singapore.

Dominic is a prominent figure in the Asian wealth management market and has over 18 years of experience in the financial services industry, having worked for renowned global private banks including Credit Agricole Indosuez, Credit Suisse and Deutsche Wealth Management.

Dominic most recently founded findaWEALTHMANAGER.com, a leading digital client acquisition platform across the UK and Asia.

In 2017, Prive Technologies acquired the Asia business, and Dominic became their chief digital officer, innovating new adviser tools and leading the Solution Sales division.

Insurer gears up for disruptive era

Muang Thai Life Assurance has unveiled an IT development initiative that encompasses use of the Oracle Enterprise Resource Planning Cloud and Oracle Enterprise Performance Management Cloud.

President and chief executive officer Sara Lamsam said yesteday that this was in preparation for its future in a world of disruptive technology where changes happen rapidly.

It is highly essential for the listed life insurer to keep pace with this constant revolution by adopting new technologies that are able to strengthen its operational efficiency while sustainably expanding business growth, he added.

Moreover, an early effort to prepare for such a future will allow Muang Thai Life to assess the impact of IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts, which are set to become effective before long, Sara said.

Carrier commences direct Bangkok-Taichung service

Thai Vietjet yesteday launched its direct service from Bangkok (Suvarnabumi) to Taichung (Taiwan).

The inaugural flight VZ560 departed Bangkok at 9.00 am and landed safely at 13.45 pm at Taichung Airport in central Taiwan in perfectly fine weather. The same date as the grand opening the Taichung World Flora Expo 2018.

The launch of the new service makes Thai Vietjet the only airline providing direct flights on this route, with five flights weekly on Monday, Wednesday, Friday, Saturday, Sunday.

Started from check-in, passengers were happily greeted by a cute Taiwanese bear mascot at Suvarnabhumi Airport.

The inaugural flight was filled with various entertaining activities to help promote the tourism of Taichung.

Thai Vietjet has teamed up with the Taiwan Tourism Bureau to impress passengers on this flight with in-the-air entertainment of contemporary Chinese live performance, serving complimentary Taiwanese popular bubble tea drinks, and offering complimentary Taichung travel guide.

As the aircraft landed, the passengers and flight crew were warmly welcomed with flower garlands by local government representatives.

The company will focus on launching new innovations, particularly with tastier and healthier products, as a key mechanism to ignite business growth. The move is in line with Nestle’s global purpose of “Enhancing Quality of Life and Contributing to a Healthier Future”.

Victor Seah, the new chairman and chief executive officer of Nestle Indochina, who took the reins at the Bangkok office in May this year, said: “We want to be recognised as an innovation company that will continue to offer innovative products and services to consumers in order to drive growth and attract the best talents in the country to come and work for us.”

Before being appointed chairman and CEO of Nestle Indochina, Seah was vice president and regional manager for Southeast Asia based at Nestle’s headquarters in Switzerland.

“In Southeast Asia, we are focusing on five different markets – Malaysia/Singapore as one market, Indonesia, the Philippines, Indochina [which includes Thailand, Myanmar, Cambodia, and Laos], and Vietnam,” he said. Seah said that Nestle separated Vietnam as an independent market about a year ago, in line with the company’s expansion strategy.

“We see big potential for the Southeast Asia market, which has a huge population of more than 625 million. We want to continue to drive growth in Indochina, particularly in Myanmar and Cambodia where the company has posted annual growth of 40 per cent and 25 per cent respectively in sales revenue,” Seah said.

Nestle currently has representative offices in Cambodia and Laos. The company, however, has its own operating company as well as a factory in Myanmar that produces powdered beverages Milo, Nescafe and Bear Brand products.

“We have just launched the Bear Brand enriched malted milk in Myanmar, the first country in the world. Our strategy in Myanmar is to launch four to five different categories at once. This is quite different from the previous sequential launch in other countries, when we introduced our products one after another,” said Seah.

He said that Nestle has five focused categories to start business in Myanmar: Nescafe coffee, Milo, Bear Brand, Lactogen and Cerelac.

“In Southeast Asia, we have two markets – the Philippines and Malaysia/Singapore – which have an established and balanced portfolio of key brands such as Milo, Nescafe, Maggi and Bear Brand,” he said.

“In Thailand, more than 50 per cent of our portfolio is from our Nescafe coffee business,” said Seah.

“My ambition is to grow other product categories to make our portfolio more balanced,” said Seah, adding that this does not mean that the company will take away its focus from the coffee business.

Seah also intends to accelerate growth in liquid products like Milo, Bear Brand and Nescafe ready-to-drink, targeting double-digit growth, while also offering products that fit the fast-growing convenience channel such as ice cream and confectionery. The company will also offer in the long-term healthy ageing products to add life to the years of senior citizens.

Almost 80 per cent of the Nestle’s revenue in Thailand is from locally managed businesses, which are coffee, dairy products, ice cream, confectionary and food.

The rest are from regionally managed businesses, which are Wyeth infant nutrition, Nestle infant nutrition, Pet Care, and Nestle Professional, which is a food service business; and its globally managed businesses comprising Nestle Pure Life and Minere mineral drinking water, Nespresso coffee, Boost and Nutren consumer healthcare products, and a joint venture business of Koko Krunch breakfast cereals.

Seah said that the Thailand market for fast-moving consumer goods is very flat.

“The only way to ignite growth in Thailand is through innovation,” he said. He gave the example of new innovations being launched by Nestle in Thailand, including Nescafe Americano, which was launched in March this year to serve the iced-coffee drinker; Milo three-in-one with less sugar and Nesvita germinated riceberry to serve more health-conscious consumers; as well as the various Nestle ice creams such as Oreo, Mochi and Thai Tea.

The company also will be investing Bt250 million to accelerate Nescafe Dolce Gusto, a coffee capsule system.

“We [Thailand] were the first market in the world to launch three-in-one coffee in 1996,” said Seah.

He added that the line up of new innovations to be launched in Thailand next year would embrace consumer trends in Thailand and in the world such as nitro and cold brew coffee trends.

“We expect about 50 per cent of our growth will be from new launches,” said Seah.

He said that the launch of new innovations, which go beyond just product itself, would also include new business models.

“We launched our new Nescafe Hub at the BTS station in Chidlom in July this year to offer fresh coffee to consumers on the go. The hub will help the company to market the brand, which is relevant to young people, as well as drive a new business model to gain revenue,” said Seah.

“We also launched the new Nescafe Gold Barista coffee machine to reach our office customers so that they can enjoy a Barista-style coffee in their workplace.”