Electric tuk-tuk dealer seeks drivers

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Electric tuk-tuk dealer seeks drivers

Corporate October 12, 2018 16:21

Loxley and Government Savings Bank have joined hands to offer loans for tuk-tuk drivers to purchase new electric three-wheelers to create a new career opportunity.

Loxley’s Energy Strategic Business Group is an authorised dealer of the electric three-wheelers brand, TukTuk Factory (TTF), which distributes in Thailand and across Indochina.

Loxley’s tuk-tuk offers a high-performance engine and a car charger designed for use with a general household outlet (220 watts).

With machine parts are made in Thailand, the firm can provide maintenance service within 24 hours. This electric model meets regulatory, technical and safety requirements, and can obtain approval from the European Union.

“Our Tuk Tuk will help create good image for the country,” said Loxley’s Nimit Prasertsuk, executive vice president, energy strategic business group.

“At this stage, we have invited tuk-tuk drivers in Chiang Mai to apply for the loans. Later we will also focus on other business groups such as hotels, hospitals, serviced apartments, schools, and food trucks which need electric tuk-tuks for their business.”

A memorandum of understanding on the matter was recently signed between Loxley’s Nimit and Jiraporn Nugitrangson, GSB’s senior executive vice president, grassroots and public sector customers group.

Huawei strengthens partnerships to gain edge in AI platforms

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Huawei strengthens partnerships to gain edge in AI platforms

Corporate October 12, 2018 01:00

By JIRAPAN BOONNOON
THE NATION

HUAWEI expects the global artificial intelligence (AI) market will reach US$380 billion by 2025. Chasing a large slice of this pie, the Chinese company is joining with business partners to develop AI platforms in support of the global market.

William Xu, director of the board, chief strategy marketing officer at Huawei, said that the company has collaborated with these partners to provide AI platforms to serve the needs of industries such as transport, healthcare, automobile, telecoms, financial and manufacturing industries in order to improve efficiencies and reduce the costs of operational management.

Xu said that the firm has been working with Shenzhen Bao, an international airport, to use AI and facial recognition technologies to help in the arrangement of flight schedules, and for smoother customs clearance. This has reduced passenger waiting times by 15 per cent. The firm has also been integrating AI into the transport industry. It has worked with Shenzhen Traffic Police to use Huawei’s cloud services to manage traffic lights in a designated district.

As a result, average vehicle speeds have increased by 15 per cent, saving every driver at least 10 minutes on average.

“We built an open platform that incorporates devices, networks and the cloud. Now with the help of AI, we are joining hands with our ecosystem partners to help industries go digital. We will continue to expand our expertise in AI and maintain our technological leadership,” said Xu.

He said that the firm has forged solid relationships with ecosystem partners to build a thriving AI ecosystem.

This ecosystem contains four types of partnership: industry alliances, business alliances, open source communities and developers.

That means that they can leverage their respective strengths to deliver value to customers.

The firm plans to support 1 million AI developers and partners over the next three years in order to help industries go digital and establish a platform that helps bring together industry organisations from across the globe.

“When we think about the future, we look to science fiction – to our own vision of how things might be. Our goal is to bring intelligence to every person, home, and organisation. Industry application will be key to artificial intelligence (AI) success over the next decade,” Xu said.

“Huawei is incorporating AI with products and solutions to support the global market. The firm also has a vision and a mission to bring digital benefits to every person, home and organisation for a fully connected, intelligent world. By creating synergies between platform, AI and the ecosystem,” said Xu.

He said that By 2025, the global artificial intelligence (AI) market is expected to reach US$380 billion, around 90 per cent of which will come from the enterprise market.

The firm believes that industry applications will be key to the success of AI over the next decade.

The firm has also announced its AI + Digital platform, which adapts to various scenarios across industries.

It has partnership with Tianjin Binhai New Area to create a smart city based on the adoption of the new AI + Digital platform. In addition, Huawei launched a smart campus solution, which is being implemented by Vanke, a China-based real estate developer, to reshape its enterprise operations for growth and competitiveness.

In another initiative, Huawei has released the Atlas intelligent computing platform powered by the Huawei Ascend series of AI chips and mainstream heterogeneous computing components.

The platform integrates various forms of products such as modules, cards, boards, edge stations, and appliances to build an all-scenario AI infrastructure covering the end, edge and cloud to help customers embrace an AI-driven future and expedite the intelligent transformation journey, the company said.

BGRIM clinches solar power supply deal with EVN

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BGRIM clinches solar power supply deal with EVN

Corporate October 12, 2018 01:00

B Grimm Power (BGRIM) has clinched an agreement to supply electricity from its solar photovoltaic (PV) farm in Phu Yen Province, Vietnam, to Electricity of Vietnam (EVN), the largest power company in the country.

The conclusion of the 20-year agreement yesterday in Hanoi, in the presence of BGRIM Chairman Harald Link, has solidified the viability of the 257 MW PV scheme in the country’s south central coast.

“The [agreement] has secured the future for the Phu Yen project which will help drive our income generation and capacity equity growth,” said BGRIM President Preeyanart Soontornwata.

When it starts commercial operation in June next year, Phu Yen will enhance BGRIM’s 2019 revenue by 15-20 per cent and contribute to the company’s target to increase it installed capacity to 3,100 MW in 2022.

The sales of electricity to EVN is at US$9.35 /KWh (Bt507) for 20 years with the commercial operation date (COD) set on June 30, 2019.

The ground-mounted PV solar farm in Phu Yen is one of the larger systems of its kind in Vietnam and its output will be fed to EVN’s national grid.

SET-listed BGRIM, through subsidiary B Grimm Renewable Power 2 Co, earlier this year acquired an 80 per cent stake in Phu Yen TTP Joint Stock Company.

BGRIM is actively pursuing power ventures in Vietnam with current combined generation equity at 677 MW.

Phu Yen is one of the large scale projects approved by Ministry of Industry and Trade of Vietnam in line with the republic’s policy to promote environmentally-friendly energy over the next two decades.

At present, BGRIM operates a total of 33 power plants, 15 of which are of co-generation, 15 solar, two hydro-power and a diesel-fuelled, with a combined generating capacity of 2,220 MW.

MERCEDES–BENZ

Veteran takes the helm at Thai unit

Daimler AG appointed Roland Sebastian Folger as the new president and chief executive officer of Mercedes-Benz (Thailand) Limited, effective October 1, 2018.

Prior to the post, Folger was president and CEO of Mercedes-Benz Malaysia Sdn Bhd from 2011 to 2015, and managing director/CEO of Mercedes-Benz India from 2015 to September 2018.

TRAVEL TECHNOLOGY 

AirAsia in collaboration with Google Cloud 

AirAsia is working with Google Cloud to integrate machine learning and artificial intelligence (ML/AI) into every aspect of its business and culture as part of its transformation into a travel technology company.

AirAsia Group CEO Tony Fernandes said, “AirAsia has been at the forefront of adopting new digital technologies since our inception in 2001. We are now in our next phase of development where we are expanding beyond air transport and digitalising our operations and processes to become more efficient.

“Google Cloud enables us to make full use of the data we own, opening up new opportunities and enabling us to build new businesses. We are building two big platforms: airasia.com, which will be our one-stop digital travel platform where our customers can book their travel needs from flights, accommodation, tours, ground transport to entertainments; and BigLife, our lifestyle site which will be like Kayak, Tripadvisor, Groupon and eBay rolled into one. BigLife will incorporate all the digital investments under our digital arm RedBeat Ventures, such as our money app BigPay, our inflight connectivity platform ROKKI, our online marketplace Ourshop and our logistics services RedBox and RedCargo. Both platforms will help drive much more business into AirAsia with the help of data.”

AirAsia will work with Google Cloud to solve high-impact business challenges, including: drive better demand forecasting and more targeted marketing, improve customer experience and loyalty by providing a more personalised experience for its customers, and maximise operational efficiency and reduce risk through predictive maintenance, real-time weather forecasting and crew optimisation.

 

MOBILE GAMES

True’s TAI to make debut with INVICTUS

True Corp is taking a significant step to expand its presence in the fast-growing game industry in Southeast Asia and around the world, making its debut with INVICTUS mobile game, developed by True Axion Interactive (TAI), a joint venture between True Corp and Axion Venture from Canada.

Birathon Kasemsri Na Ayudhaya, True Corporation Plc’s Chief Content & Media Officer, said that TAI brought in international talents from the US, Canada, Germany, Italy, Russia and China ,together with a developed local team, to form a highly capable workforce to create world-class game studio that is ready to export new game products from Thailand.

So far, about 97 per cent of games available in the region were imported intellectual properties. With the debut of INVICTUS, he expects that INVICTUS will place Thailand in the forefront of the global game market with its premium production quality and set higher standard for the industry.

Nithinan Boonyawattanapisut, TAI’s Chief Executive Officer, said INVICTUS game will be opened for a preview at Thailand Game Show 2018 on October 26-28 at the Royal Paragon Hall, Siam Paragon. The official launch is expected in the first quarter of 2019.

Currently, TAI has over 85 developers, and plans to make 3 mobile and 1 PC-online games within the next 24 months, she said.

CAPITAL MARKET 

Asean regulators launch key initiatives 

The Asean Capital Markets Forum (ACMF) met in Singapore on Thursday and launched two key initiatives to drive a more connected and sustainable Asean capital market.

The ACMF launched a framework to facilitate cross-border movement of investment advisers, which will allow Asean investors greater access to professional services.

The first phase of the ACMF Professional Mobility Framework is the introduction of the “ACMF Pass” which will allow licensed professionals to provide advisory services within participating Asean jurisdictions, with fast-track registration and no additional licensing requirements.

Malaysia, Philippines, Singapore and Thailand are the first countries to participate in this initiative, to be followed by other countries in due course. The four regulators signed a memorandum of understanding, at the 2nd Asean Capital Market Conference, an ACMF initiative hosted by the Monetary Authority of Singapore in collaboration with the Asian Development Bank (ADB).

The ACMF continues to place emphasis on sustainable finance and launched the Asean Social Bond Standards (Asean SBS) and the Asean Sustainability Bond Standards (Asean SUS)2.

The standards are intended to enhance transparency, consistency and uniformity of Asean green, social and sustainability bonds.

Regulator scuttles PTT unit’s bid for stake in power firm Glow

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Regulator scuttles PTT unit’s bid for stake in power firm Glow

Corporate October 12, 2018 01:00

By THE NATION

THE Energy Regulatory Commission (ERC) yesterday blocked plans by a unit of PTT group to buy 69.11 per cent of the shares in fellow power producer Glow Energy.

In a unanimous resolution, the regulator ruled that the proposed transaction could stifle competition in the energy business, violating provisions in the Energy Business Law of 2550.

Global Power Synergy (GPSC) had sought to buy the stake in Glow from Engie Global Development B.V.

ERC secretary general Narupat Amornkosit said that the commission’s decision was based on the Energy Business Law of 2550 and the related regulations and the promotion of free trade and fair competition. The ERC will inform the related parties of the resolution and their right to appeal against the ruling.

GPSC president Chawalit Tippawanich said that the company had learnt about the resolution and is studying how to proceed next. It will maintain its current business plan and continue to explore growth opportunities locally and overseas.

The GPSC board resolved on June 19 to approve the company’s plan to acquire directly and indirectly 69.11 per cent of the total issued shares of Glow from Engie Global Developments and make a tender offer for the rest of Glow’s securities.

The company entered into a share-purchase agreement with the seller on June 20. The sale and purchase of shares were to proceed only after the fulfilment of conditions including the approval of the transaction by the ERC.

GPSC, in a filing to the Stock Exchange of Thailand yesterday, said that due to the ERC’s resolution, the conditions of the share-purchase agreement with Engie Global Development could not be fulfilled in the near future. The company is studying its options.

NEW HIGH SEEN IN BOND ISSUANCE

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NEW HIGH SEEN IN BOND ISSUANCE

Corporate October 12, 2018 01:00

The Thai Bond Market Association (ThaiBMA) forecasts the issues of long-term corporate debentures to reach a new high of Bt880 billion this year, over its earlier estimate of Bt720-Bt750 billion, thanks to the upward trend in interest rates.

Ariya Tiranaprakij, executive vice president of ThaiBMA, said companies have launched more debenture issues to lock in funding costs amid rising rates. In 2016, new corporate bond issues stood at Bt812 billion.

This year, several companies which acquired enterprises abroad have refinanced their operations through debenture issues, including Thai Beverage Plc which has issued Bt120-billion in debentures so far.

“It’s possible for private companies to issues debentures worth a total of Bt900 billion this year. We’ve seen the figures set to be launched, the existing debentures set to reach their maturity and the Bt711 billion worth of debentures already launched this year. It is likely that total debenture issues will reach Bt880 billion this year , a new record high and higher than our earlier estimate of Bt720-Bt750 billion,” Ariya said.

NORDIC CHAMBERS BACK ANTI-GRAFT INITIATIVE

Four Nordic Chambers of Commerce in Thailand comprising Danish-Thai Chamber of Commerce, Thai-Norwegian Chamber of Commerce, Thai-Swedish Chamber of Commerce, and Thai-Finnish Chamber of Commerce, have collectively pledged to support their members to sign up with Thailand’s Private Sector Collective Action Coalition against Corruption (CAC).

The four Nordic Chambers of Commerce have jointly signed a memorandum of understanding with the CAC at the sideline of the CAC’s 9th annual National Conference “Disrupting Corruption” in Bangkok.

VietJet signs fleet expansion deal

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VietJet signs fleet expansion deal

Corporate October 11, 2018 18:07

By The Nation

During Vietnamese Prime Minister Nguyen Xuan Phuc’s visit to Japan, VietJet held a ceremony on October 10 to announce three new routes to Japan.

It signed a financing agreement with Mitsubishi UFJ Lease and Finance Company Limited (MUL), a member of Mitsubishi UFJ Financial Group and the French banking group BNP Paribas.

The deal will see VietJet acquire five new aircraft, worth US$614 million, according to the listed price.

Vietjet launches Osaka-Hanoi flights on November 8, Osaka-Ho Chi Minh City on December 14, and Tokyo-Hanoi on January 11.

All routes will have daily return flights and can be booked at vietjetair.com.

Phuc said: “The launch of VietJet’s routes from Vietnam to the Kansai region of Japan has great significance in sharing the cause to rebuild Kansai’s economy and tourism after being devastated by the storm in early September, and contributes to the tourism, trade and integration development between the two countries and in the region.”

Hiroshi Tabata, commissioner of the Japan Tourism Agency, told the event: “These newly launched flights will be a huge boost for tourism in Kansai and also increase in the number of Vietnamese visitors to Japan.”

VietJet already flies to Osaka, Narita, Sendai, Nagoya, Komatsu, Ibaraki and Fukushima.

VietJet’s France-based banking group Natixis and some Japanese equity underwriters, signed a US$625-million deal, to finance the five aircraft.

Their engines are designed to reduce fuel consumption, by at least 16 per cent up initially to 20 per cent by 2020, as well a 75 per cent reduction in noise and 50 per cent in emissions. The aircraft are due to be delivered to VietJet this year or early 2019.

Roojai launches bike insurance

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Roojai launches bike insurance

Corporate October 11, 2018 17:09

By The Nation

Roojai.com, an online car insurance platform in Thailand, has launched Thailand’s first online “big” bike insurance.

In partnership with LMG Insurance, a non-life insurance provider in Thailand, safe, experienced big bike riders will now get up to 30 per cent off their insurance through Roojai.

It promises an online quote in less than 60 seconds and the option to buy online just like car drivers.

Monthly payments can be made by card for bikers needing comprehensive insurance. And customers can carry out a remote bike inspection in less than 10 minutes using the Roojai app. Unlike traditional bike insurance, there is no need for an appointment.

Nicolas Faquet, founder of Roojai, said the platform’s calculations are intended to benefit mature riders.

“Traditional motorcycle insurance has always been based primarily on the value of the bike itself. The more expensive the bike, the higher the premium. While it is certainly a parameter to assess the cost of an accident, Roojai and LMG are focusing more on the probability of having an accident in the first place.

“Understanding what the bike is used for, the rider’s safety record and experience and the power to weight ratio of the bike can all influence the likelihood of having an accident. By focusing mainly on the lower risk riders, LMG and Roojai can dramatically cut insurance costs for the safer rider.”

Dr Boonsong Sermsrisuwan, sales chief at LMG, said: “LMG brings its long-standing international and Thai expertise in insurance markets to support Roojai’s newest product. With Bt1.7 billion in authorised capital, and with the Insurtech skills Roojai has to offer, it is a win-win situation. Big bike customers will get a trustworthy and reliable coverage partner with excellent customer service, at a competitive price.”

KFC launches THE BOX ALL MEAT promotion

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KFC launches THE BOX ALL MEAT promotion

Corporate October 11, 2018 16:30

Get a jumbo set of all-meat, crispy fried chicken at only Bt139

KFC will leave fans impressed with the latest offer, THE BOX ALL MEAT, which includes two pieces of SBL, seven KFC pops, one regular size of KFC mashed potatoes and one regular size of Pepsi, for just Bt139 (Bt149 for the offer with free refill drink).

This value set is valid for dine-in and take-away only, starting from 4 October until 7 November 2018. Keep updated with the latest news and promotions from KFC at Facebook: KFC Thailand.

Starbucks donates Bt2.5m to northern farmers

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Starbucks donates Bt2.5m to northern farmers

Corporate October 11, 2018 16:04

By The Nation

Starbucks Coffee Thailand says it is backing the sustainable development of coffee farming in northern Thailand, donating Bt2.5 million to the Integrated Tribal Development Programme (ITDP) to celebrate the 20th anniversary in Thailand.

The funds represent part of the proceeds from sales at Starbucks Langsuan community store and from the Good Coffee Day on July 18, where customers supported farmers by donating cash for a beverage.

Starbucks has been working closely with the ITDP for 17 years in purchasing Arabica from coffee farmers in northern Thailand for the Starbucks, Muan Jai blend as well as improving the livelihood of the coffee farmers.

Based on Starbucks’ ethical sourcing, the Coffee and Farmer Equity (Cafe) practices, coffee farmers are able to grow better coffee beans for themselves and the environment while Starbucks contributes to improving their quality of life.

ITDP will use these funds to build a coffee bean nursery, purchase Arabica saplings and support sustainable coffee planting.

Book & Fly Now with THAI Smile, price starts at 1,000 baht/person/trip, until Oct 14

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Book & Fly Now with THAI Smile, price starts at 1,000 baht/person/trip, until Oct 14

Corporate October 11, 2018 15:42

By The Nation

THAI Smile Airways offers special ticket price “Book and Fly Now” for domestic routes starting at 1,000 Baht/person/trip (All inclusive).

Tickets are available for booking from Oct 8 to 14, 2018 and fly from Oct 8 to 31, 2018. The promotion comes with full services, free baggage allowance of up to 20 kg, snacks and beverages on board. Make a reservation via http://www.thaismileair.com, Call Center 1181 or 02-118-8888, Smile Service Centers and Smile Agents nationwide. Terms and conditions apply and are subject to change without prior notice. This price is limited and may not be available on some flights. Fly with the number one airline in Thailand, the Best Airline in Asia and the best economy seats in Asia guaranteed by TripAdvisor Travelers’ Choice Awards 2018.