Kbank’s financial and IT capabilities will be further enhanced by using data for decision-making and steering the business towards becoming a “Bank of Sustainability”, the chairman of the bank’s board, Banthoon Lamsam, said on Monday.

He added that the Thai economy would likely post steady growth in 2019. Despite lower demand abroad, domestic spending buoyed by both public and private investments may play a more important role in bolstering the Thai economic performance.

Thai GDP is expected to grow 4.3 per cent in 2019, lower than the 4.6-per-cent pace projected for 2018, due to the slowdown in the export sector and tourism caused by the high 2018 base and the protracted US-China trade dispute that may dampen the global trade overall.

The major drivers of the Thai economy in 2019 may include steady public infrastructure investment and the scheduled general election that will likely help reinvigorate the investment climate overall while Thailand’s interest rates will be on the upward trend amid lofty household debt.

Amid numerous challenges, Kbank’s business operations next year will continue to focus on its “customer centricity” philosophy. “We will press ahead with the ‘Customers’ Life Platform of Choice’ strategy by using K Plus, which has the highest number of users of any mobile banking applications in the country, to introduce financial and lifestyle services that meet the needs of individual customers. Our financial and IT capabilities will be enhanced further to allow KBank to be more responsive to every situation and become a data-driven bank,” Banthoon said.

As overall goals for 2019, KBank aims to achieve loan growth of 5-7 per cent, which would be consistent with the 2019 economic growth. Corporate loan growth is estimated at 3-5 per cent, SME loan growth at 2-4 per cent and retail loan growth at 9-12 per cent. The bank has set net interest margin growth at 3.3-3.5 per cent, and non-interest income growth at 5 to 7 per cent. KBank’s NPL ratio is projected at 3.3-3.7 per cent, the chairman of the bank’s board said.

He added that KBank continues to operate the business, aiming to be a “Bank of Sustainability”, and under appropriate risk management and good governance. “We are also building a balance in economic, social and environmental dimensions via strategies that will enable us to achieve and create sustainable returns over the long term,” Banthoon said.

The store will open in the fourth quarter of 2019.

The move is in keeping with the development of Phuket Smart City. Porto de Phuket will contribute to the city’s economic growth and help promote Phuket as one of the world’s top destinations, group senior executive vice president Lertvit Pumipitak said on Monday.

He added that because of the success enjoyed by Central Phuket, which opened in September, Central Group could see the potential of the tourism industry in Phuket.

The number of tourists visiting Phuket has been increasing every year.

In 2017, Phuket had 16.9 million visitors who contributed more than Bt377 billion to the economy. It is forecast that in 2-3 years, the number of tourists may reach up to 20-25 million, circulating more than Bt555 billion in the economy.

To be able to support the increasing number of tourists, Central Group will open a revolutionary department store, Porto de Phuket under the concept “The Finest Living Experience”, the group said.

The unique store will combine design, lifestyle and nature in a harmonious manner responding to the trend of the new generation to be one with nature. The store will cover 40,000 square metres of land and require an investment of more than Bt1 billion.

NBTC secretary-general Takorn Tantasith made the revelation after the auction yesterday of the 900MHz licence, which was grabbed by DTAC Trinet, the only bidder, offering Bt38.064 billion.

DTAC TriNet is a subsidiary of Total Access Communication (DTAC).

The telecom regulator had auctioned nine lots of the 1800MHz in August this year when DTAC TriNet and Advanced Wireless Network (AWN) each grabbed only one lot. The NBTC currently has seven unsold lots of the 1800MHz band.

The NBTC is expected to submit for the board’s consideration next month the revised draft rules to reclaim the spectra from state agencies for reallocation. The NBTC will compensate them after reclaiming their spectra.

MCOT currently holds the 2.6GHz spectrum.

In the absence of any competition, the 900MHz licence auction yesterday was concluded in just about an hour, after beginning at 9.45am at the NBTC headquarters on Phaholyothin Road. DTAC TriNet raised the price only once. Under the auction rules, a bidder is required to raise the bid price at least once and at Bt76 million per time.

The 15-year licence (890-895MHz/ 935-940 MHz), features 2x5MHz bandwidth with the opening bid of Bt37.988 billion.

Winning the 900MHz licence means DTAC will have a combined 110MHz of both low-band and high-band spectrum, equal to True Corp’s holdings but less than Advanced Info Service’s 120MHz spectrum bandwidth.

Currently, DTAC TriNet has the licence to operate the 2.1GHz band totalling 2x15MHz bandwidth, and is due to receive a licence to operate the 1800MHz band totalling 2x5MHz bandwidth. It has also partnered with TOT to provide a wireless broadband service on the state agency’s 2.3GHz totalling 60MHz bandwidth.

DTAC chief executive officer Alexandra Reich said after the auction yesterday: “Today is a significant milestone for DTAC, as we acquired a licence for the 900MHz spectrum to be used by our customers. This low-band spectrum is essential to DTAC’s network and our Internet services, not only for DTAC customers in cities, but also for those in rural areas across the country.”

The acquisition of the 900MHz licence will enhance the company’s nationwide service coverage, she added.

DTAC will quickly update all its systems currently operating on its existing 850MHz to 900MHz to support the rapid growth of mobile Internet demand across the country.

According to the 900MHz licensing rules, after the win, DTAC will now be able to continue using its existing 850MHz spectrum for a period not exceeding two years during the transition to the 900MHz band.

The NBTC had declined to allow DTAC to continue using the 850MHz after its concession expiry date of September 15 this year.

This prompted DTAC to seek temporary protection for the remaining 850MHz customers on its concession in the Central Administrative Court, which in the middle of last month allowed DTAC to continue using the 850MHz band until December 15.

Reich added that DTAC’s bid for a 900MHz licence ensures service continuity for its 850MHz customers after the protection period granted by the court ends on December 15.

Launched in December last year as replacement for the free TrueVisions Anywhere app, TrueID app has recorded at least 5 million downloads from Android among TrueVisions’ 4 million subscribers.

The shift in lifestyles of TV viewers has meant they want to catch the shows regardless of when and where they are at the time.

However, watching TV at home with families is still preferred, she said.

TrueVisions supplies content to subscribers through several devices and platforms, thus customers will not miss anything they want to |watch anytime, anywhere, Kittima said.

However, competition in the pay-TV sector is growing with the emergence of subscription-based streaming media services such as Netflix, but Kittima says TrueVisions has a lot more to offer.

TrueVisions , a subsidiary of True Corporation whose services range from Internet to mobile communication, allows subscribers to stream content on TrueVisions to a smart phone or tablet through the TrueID app which also features music and games, she said.

True Corporation is the parent company of the country’s largest cable-TV provider TrueVisions; Thailand’s largest Internet service provider True Internet; as well as TrueMove H, one of the top three mobile phone operators.

Kittima said TrueVisions recently became the first TV operator in Thailand to beam and stream with a 4K Ultra HD system to viewers.

Beginning with the broadcasting of World Cup matches from Russia, the new system is four times clearer than HD and 20 times clearer than the old system.

“Our strategy is to keep up with our viewers’ lifestyle. We will deliver what interests our customers,” she said.

Now, there is little difference or none in the release dates of foreign TV series in Thailand and abroad. Some foreign series and entertainment programmes were released here at almost the same time as that in the countries where they were produced, Kittima added.

“There is no boundary in the timely supply of content. If a series or movie is released late in Thailand, most viewers would have watched it on other platforms,” she said.

The next three years could pose a challenge for TrueVisions, as it may lose the rights to broadcast the world’s most-watched football league on its channels.

TrueVisions acquired the sub-licensing rights to the English Premier League [EPL] for the 2016-18 seasons from Qatar-based BeIN Sports but the Qatari sport channel has failed to extend the rights for the next three years.

Instead, Facebook has clinched the exclusive broadcast rights of the EPL in Thailand, Vietnam, Cambodia and Laos for the 2019-21 seasons in a 200-million pound (Bt8.5 billion) battle.

This means the social media giant will livestream all EPL matches, after outbidding traditional television networks such as BeIN Sports and Fox Sports Asia in an auction.

Kittima said TrueVisions is ready to discuss with the new rights holder on the possibility of sub-licensing, adding that she has no idea as to the regulations and conditions.

“We cannot guarantee anything but will try our best to keep the matches on our sports channels,” she said.

In her view, football fans in Thailand will be able to watch EPL matches on one of the three platforms: television, online, or live streaming.

Football fans were left bitterly disappointed last month after staying up for the opening match of the Champions League, but were met with a blank screen instead.

In previous seasons, TrueVisions’ subscribers watched the matches on beIN Sports, the rights holder of the Champions League and Europa League, but it failed to retain these rights in addition to the EPL for the next three seasons.

European football’s ruling body, UEFA, said Thai fans could watch the games live on goal.com of the new rights holder, after it was awarded to beIN’s parent company, DAZN. But as of now, Thai fans are still denied access to the stream from the website.

As for the continuous broadcasting of the Champions League and Europa league to Thai viewers, Kittima said it now depends on the new rights holder.

Rawit, now managing director of Srichand United Dispensary, became the third generation of his family to enter the business. And he lost no time in setting about the task of reviving the brand, with the help of a fresh outlook and an engineering degree.

Last year, sales jumped to Bt300 million, attesting to the transformation that is under way.

The Hanutsaha family established the business in 1948. As a youngster, Rawit remembers observing his parents’ hard work in growing the medical and cosmetics concern.

He says Srichand aims to become a customer-centric company within three years by developing products that fit with customers’ demand. He hopes to see the firm listed on the stock market in 2020.

Rawit says he embarked on his chapter in the family business in 2006, when he joined Srichand United Dispensary, producer of the Srichand facial powder brand.

“I am the third generation to take care of the Srichand facial powder brand, which was established in 1948 by Phong Hanutsaha, my grandfather. I aimed to help him mange our family business,” Rawit says.

Before he signed up for the family business, his grandfather and the second generation had produced only facial powder, which sold for only Bt18 per unit.

He brought about big changes in 2015, announcing new products, along with a rebranding and company reorganisation, while tapping online channels to ramp up the marketing of the traditional facial powder.

“I felt that customers were in decline,” Rawit recalls of his start in the business. “I therefore in 2015 decided to redesign the packaging, come out with new products, undertake the reorganisation, develop the advertising strategies and expand the marketing channels to modern trade.

“We also utilised online channels such as social media and digital marketing to support our existing and new products. Beforehand, I did not know a lot about such things. I just wanted to help my grandfather and that became the turning point.”

He says that among the big changes he brought in for the facial powder product was a formulation designed for use with other make-up under a new design, The resulting product was priced at Bt280.

With the product changes and the new approach the business transformation resulted in revenue increasing by 10 times.

He says that all the products under the Srichand brand have undergone design changes and benefited from research and development to fit the need of the customers.

“Our cosmetic products can compete with the premium cosmetic products and mostly we use premium raw materials from Japan and Switzerland,” Rawit says. “The products also have unique design packaging and suitable for the needs of our customers.”

The company’s cosmetic products such as make-up powder and lipstick now comprise 50 stock keeping units (SKUs) under the Srichand brand. The brand is focused on customers aged between 22 and 40. The most popular product type is facial powder.

The firm last year developed a new brand and officially released it on the market in May this year. The Sasi brand covers eye liners, lipstick and powder designed for younger consumers aged from 13 to 25, along with other people in their first jobs who are looking for premium products at affordable prices. Sasi products now number 50 SKUs. The most popular product item is lipstick. Prices start from Bt39.

As for the company’s social media strategy, Rawit says it makes use of platforms such as Line to reach out to its customers as members of the new generation who are used to accessing information from digital sources.

“We utilise both online and offline channels such as advertising in the theatres, on Line, Facebook and with influencers who promote our products to the market, depending on our target customers,” Rawit says. “I think that the cosmetic business is very challenging and it is marked by strong competition.

“We therefore are developing new products at the premium level in order to provide alternative choices for our customers and to support the demands of the market.”

The company makes its products both in its own factory and under arrangements with original equipment manufacturers (OEM).

“Before each product comes out on the market we would have spend around 18 months on research and development,” Rawit says. “This is to ensure that we produce the kind of cosmetic products that really support the demands of our customers. We also have a mission to become a customer-centric company.”

To help ensure the company meets its goals, Rawit says that artificial intelligence (AI) and Big Data technologies will be put to work to collect the data of its customers. The subsequent analysis of the data can help the company better shape new products to the needs of its customers.

Rawit says the company aims to have such capabilities in place within three years. For now, it relies on traditional research.

“We will utilise AI and Big Data in order to set up a customer-centric operation, with a focus on the customers outside and also on our staff within the organisation, when it comes to developing new products,” he says.

“The new products that result will be developed based on the demands of our customers. This means customised products will be created to give us a competitive advantage over our rivals as well as keep our customers happy. We will have products that will be top of mind for customers within three years. We will develop testing procedures and a prototype of a customised product next year.”

Rawit says that this year the company will devote more attention to Chinese customers, By the end of this year, he expects that Chinese customers will account for around 1 per cent of the total revenue of around Bt500 million. The firm expects this level to rise to 5 per cent within three years.

With the revenue of Bt500 million by the end of this year, this would represent growth of around 30 per cent from last year.

The firm expects the proportion of the revenue from the Srichand brand to account for 75 per cent of the total, with the rest from the Sasi brand.

The firm distributes its products to six countries and territories, including Vietnam, Singapore, Taiwan and Malaysia.

It also sells products online in order to collect customer data and insights into their behaviour and help with the customisation of products,

In terms of staff management, Rawit says the company plans to use Objectives and Key Results (OKR), billed as the first fully-fledged reference guide on Objectives and Key Results, which in turn is described as a critical thinking framework designed to help organisations create value through focus, alignment, and better communication to support staff within an organisation.

The use of the system for the 180 or so workers will create personalisation and develop the capability of the workers, says Rawit, who also expects that they will become happier in their jobs as well. And this means they will be more inspired to better meet the needs of the customers, he says.

Rawit says he hopes to be able to list the company on the stock exchange by 2020.

The company said in a press release issued on Friday that the venue brings together various products and services to Singburi locals and serves as a place for shopping and relaxation.

Its launch will bring liveliness to the province’s economy, and increase employment with 800 positions, the company said. Tops Plaza Singburi also supports local communities in Singburi.

Singburi governor Chamnanwit Terat will preside over the official opening ceremony with the management team; Pascal Billaud, CEO of Central Food Retail Group, Alistair Taylor, President of Central Food Retail Co.,Ltd., and Emmanuel Couronne, Executive Vice President of Central Food Retail Co.,Ltd.

Wattinaporn Banthuchai, Vice President of Central Food Retail Company Limited, operator of Tops Plaza, said the company has invested Bt500 million in the launch of Tops Plaza Singburi.

The new shopping venue will be a place where Singburi locals and visitors can come shop, socialize, and relax with over 150 shops. Located at 32 Bang Man sub-district, Muang district, it covers an area of 29 rai, with 12,000 square meters of retail space and a parking lot which can accommodate 600 motorcycles and 500 cars.

The architecture is inspired by a traditional Thai home in the region, with high ceiling and vibrant colours. The construction also minimises the use of materials that pollute the air.

The company said: “Tops Plaza brings together the best products and services for Singburi people so that they don’t have to travel far for shopping. We have Tops Superstore which covers an area of 5,000 square meters, offering high-quality products in various categories, such as grocery products, fruits and vegetables, meat, dry food, ingredients, ready-to-eat meals, consumer goods, appliances, kitchenware, home utensils, makeup and skincare, and many more, with over 20,000 choices on offer, available at a reasonable price. We also have specialty stores such as Supersport, Watsons, Daiso, B2S, Mr.DIY, and Moshi, restaurants such as Pizza Hut, Shabushi, MK, KFC, Waku Japanese, Café Amazon, CaffeMuanchon, and fashion stores such as AIIZ and Taywin. You can also shop at Robinson Lifestyle popup store where fashion products, makeup, and accessories are on offer with up 80% discount”

To mark the official launch of Tops Plaza Singburi, special promotions and discounts are on offer throughout the plaza. From October 26 to November 22, 2018, with a purchase of Bt500 per receipt, get a chance to win a Honda Scoopi I worth Bt48,000, and 80 Gift Cards worth Bt500 each, or Bt40,000 in total.

The latest addition and the second Century The Movie Plaza, Century The Movie Plaza Sukhumvit, presents itself as a new lifestyle community mall, the company said in a press release issued on Friday.

The new branch will fulfil lifestyle needs with the best movie theatre, products and services, various popular restaurants, as well as the Avani Hotel and its function halls, the company said. It spans over 70,000 square metres and aims to introduce a new shopping experience.

Kampol Poolvoralaks, Vice President, shopping centre and movie theatre, Century The Movie Plaza, said: “Century The Movie at Anusaowaree opened its door and has brought success to us for 13 years. The success has helped us to understand our target market better. Our customers value and seek convenience, speed, and solutions to their needs. That led us to search for a new plot of land in the south eastern area of Bangkok.

“Today, urbanisation rolls out at a rapid rate, resulting in a boom of condominium, residential townhomes, educational institutions, as well as private and public sectors. More than 300,000 people live in the areas adjacent to the CBD and BTS lines. We spent more than Bt3 billion for our Sukhumvit expansion, namely Century The Movie Plaza Sukhumvit. This mall’s highlights are the modern extravagant designs, inspired by the “Never Stop Moving: The Move of Sukhumvit” concept.

“Our target customers are the B group and the working age with a minimum of 30,000 baht in salary. Additionally, we would like to introduce interesting stores and comprehensive services that are modern and convenient for the new generation. The mall’s second floor is accessible from Onnut BTS station. It also provides conveniences and the lifestyle for targeted customers who would like to shop or hang out at a shopping centre. Moreover, having a movie theatre can strengthen our operations, while making visitors’ lives more fulfilled.”

At this location, Century First Screen is also launched for the first time, fully equipped with a Vivian Lounge, the special private waiting area prior to watching the movie. The lounge also comes with premium gourmet bar that creates special cocktails. The seats of the Century First Screen are 180-degree reclinable sofas, available at Bt600 per seat or Bt1,200 per pair.

Kampol continued: “Our company also sets aside more than Bt10 million in marketing budget to promote and create awareness through a 360-degree campaign. The official grand opening, filled with all-day entertainment, will be on Friday October 26, 2018. The opening of Century The Movie Plaza Sukhumvit will generate an additional 30 per cent growth in revenue each year and will service an average of 15,000 visitors daily.”