Phillip Life Assurance opens in Cambodia

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Phillip Life Assurance opens in Cambodia

Corporate September 03, 2018 10:21

By The Nation

Singapore based Phillip Life Assurance Plc has launched its first office in Cambodia following the issuance of a insurance license by the Ministry of Economy and Finance Cambodia on June 29, 2018, the company’s director and executive vice president Noppol Beokhaimook said on Monday.

Phillip Capital Group, which is also based in Singapore, provides investment and financial services in 17 countries and has enjoyed stability and continuous growth for more than 40 years. It has operated a life insurance business in Thailand since 2013.

PLA-Cambodia will use the technical know-how and experience gained from its business in Thailand by synergising technology, operational process and services, product development, marketing strategy and distribution channels. Account will be taken of the continuous success of the online channel in Thailand.

“We are confident that we will be able to respond to Cambodian customers’ needs. The life insurance business has high potential for growth in both Cambodia and Thailand, as do our services using the Customer Centric policy,” he said.

As of June 30, Phillip Life Assurance was seeing new business growth rate of 23 per cent while the growth rate of total premiums stood at 16 per cent. Both growth rates are higher than the average growth rate of the overall life insurance business in Thailand. The company is also reporting assets of more than Bt9.6 billion. “This shows our continuous success in market expansion as well as strong financial status of the company,” Noppol added.

THAI appoints executive vice president for finance and accounting

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THAI appoints executive vice president for finance and accounting

Corporate September 03, 2018 10:17

By The Nation

Thai Airways International Plc’s August 10 board meeting passed a resolution to appoint Sumeth Damrongchaitham, president, as acting executive vice president for finance and accounting.

The resolution came into effect from September 1,2018, according to the company’s report to the Stock Exchange of Thailand on Monday.

DHL eCommerce on a roll for top spot in logistics solution

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DHL eCommerce has partnered with Kasemchaifood to enable the latter todeliver fresh eggs directly to consumers within 24 hours by leveraging on its nationwide delivery network in Thailand.
DHL eCommerce has partnered with Kasemchaifood to enable the latter todeliver fresh eggs directly to consumers within 24 hours by leveraging on its nationwide delivery network in Thailand.

DHL eCommerce on a roll for top spot in logistics solution

Corporate September 03, 2018 01:00

By Sirivish Toomgum
The Nation

DHL eCommerce, an online logistics solution provider, is continuing its local investment in human resource, services and network in a push to be the company of choice among customers, said Kiattichai Pitpreecha, managing director of DHL eCommerce/Southeast Asia.

 A division of Deutsche Post DHL Group (DPDHL Group), DHL eCommerce focuses on providing e-commerce logistics solutions.

“Having launched the first DHL ServicePoints in December 2017, the company has been rapidly expanding its network towards the target of 1,000 outlets by the end of this year. We are on track and will team up with SE-ED book center and selected retail chains to further expand our footprint, providing more choices and convenience for sellers and buyers with extensive drop-off and pick-up locations,” he added.

The company launched DHL Parcel Metro earlier this year, a same-day

delivery service for Greater Bangkok. Retailers can send parcels, weighing up to

20kg each, under a cut-off delivery time of 12 pm on the same day. It came as an addition to the existing next-day service across most parts of Thailand, and the two-to-three day delivery service to some rural areas.

“We will also introduce more SME-friendly services for small

businesses, such as those needing less than 5

shipments a day. It will be mobile-friendly, with competitive and

transparent pricings, without the need to open an account,” he added.

“Our upcountry pick-up capability enables Thai micro-SMEs,

particularly those in the rural areas, to tap on e-commerce for an easy and convenient way to ship their parcels,” he said.

Kiattichai added that the company is very upbeat on the growth prospect of

e-commerce in Thailand.

“2018 is an excellent year for us as we have seen very positive and

encouraging growth in volumes and customers. Besides B2C (Business

to Consumer), we have also been supporting B2B companies requiring

domestic deliveries, including banks and retailers with multiple branches

across the country.”

Last week, the Department of International Trade Promotion reported that

the value of buy and sell transactions on the e-commerce channel totalled Bt2.8 trillion last year, due to greater

Internet accessibility and more people buying products from online

platforms.

Of the total, business-2-business e-commerce accounted for

Bt1.67 trillion in value, business-2-consumer Bt812

billion, other kinds of e-commerce Bt324 billion.

The e-commerce boom has led to continuous expansion of the logistics

business with annual growth of 10 to 20 per cent, reaching Bt28

billion in value last year,according to department data.

Recently DHL eCommerce has enabled Kasemchaifood, one of Thailand’s

major egg producers, to deliver fresh eggs directly to consumers

within 24 hours by leveraging on DHL eCommerce’s nationwide delivery

network in Thailand.

“Our team of e-commerce delivery experts are specially-trained to

ensure they are able to handle all parcels with care and deliver a

smile in the last mile – even for the most fragile item,” Kiattichai

said.

DHL eCommerce has also worked with Kasemchaifood to design and test

shipping packages with protective and shock-resistant packaging. It

has also enabled a last-mile delivery technology platform for

Kasemchaifood, making it possible for consumers to track their

deliveries from farm to table.

He added that the e-commerce market is fairly new, still in its

growth stage with many new players in a very competitive environment.

“However, quality is a huge issue and we are proud that our consistent

quality remains to be the market-leading differentiator in e-commerce

delivery. It is an excellent time to be in e-commerce and we are

extremely excited to grow our service to become the market leader in

e-commerce logistics,”.

“Innovation is a huge focus for DHL and we will continue to invest in

small innovations (aimed at improving productivity) and big

innovations (eg new business models) to digitize the logistics

industry,”

“Our Innovation Centers in Singapore, Troisdorf in Germany and Chicago

in the US are fully focused on developing, testing and rolling out

new innovations such as Artificial Intelligence and we will do this

with customer input to ensure we always provide value to them,” Kiattichai said.

Best of both WORLDS

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Best of both WORLDS

Corporate September 01, 2018 01:00

By SIRIVISH TOOMGUM
THE NATION WEEKEND

NADINE Allen knows where to look when it comes to making a success of her role as the country chief of a global information and communications technology company.

Allen, the president and country manager of Ericsson (Thailand) Ltd, looks outwards to capitalise on the best of Ericsson’s global assets and its leadership in 5G wireless broadband technology while, on the home front, making use of the strong local talent to further grow the company’s business in Thailand.

“My approach is to use the best of Ericsson’s global assets and our technology leadership in 5G, combined with our local talent, to offer the strong solutions and superior service to our customers that really supports their success,” Allen says.

“We’ve a lot of passion for what we do at Ericsson and we’re committed to continuing to contribute to the success of the Thai [telecom] industry.”

Allen, 44, was born in Warwickshire county in the UK. “Though I actually grew up in Leicestershire. Our nearest major city was Leicester and, yes, that makes my family fans of Leicester City Football Club,” she says.

“In fact, I have met Jamie Vardy (Leicester City forward). I enjoyed the World Cup recently. England did well, but they still have a bit more work to do,” says Allen, who concedes she’s not much of a football fan.

She took the top job at Ericsson Thailand on August 1, 2016. Her first impression of Thailand was of a colourful country. She also admires the respect and kindness displayed by the people.

“I like the humility- it’s such a great part of Thai culture, to be humble,” she adds.

She lists Krabi, Phuket and Chiang Mai as being among her favourite places in Thailand.

“I love to visit different places and the temples and learn about the culture. I also really like to see the elephants – they are my favourite animal,” she says.

Asked whether it was hard for her to adjust to the new cultural and business environments that came with her transfer to Ericsson’s top post in Thailand, Allen says: “The hardest part of adjusting is not knowing all of the fine details of the culture, so you hope that you are not making an unintended big mistake in misinterpreting any of these subtleties,”

“Humility and patience are very important in Thailand. Networks and relationships play a bigger role here. And I always say anything is possible in Thailand, so the way things get done can be more creative.

“The biggest challenge for me has been to really understand the finer details of how things work, as the little things always add up to the big things. So, I need to spend my time to make sure I have understood things correctly in order to take the right steps and give direction to the team.”

At the core of her management philosophy is the belief that high performance is achieved by enabling and supporting those around her to perform to their best and feel great about what they do and what they achieve.

In any role, she focuses her time on three elements; strategy; the team (and chemistry in the team); and strong execution.

“My style, well, I’m quite energetic, I like things to move fast and to make progress. I measure myself every day on whether things have moved forward or not. However, being calm is important to me as it helps me to assess difficult situations better,” Allen says.

“I like things to be very clear, so I am quite straight forward and no-nonsense. I think it’s my job to ensure that we create an environment where everyone can contribute to their best and that we can be open about the things that we need to change and improve, so I always encourage everyone to speak up.

“When it comes to dealing with problems, firstly, I like to make sure we have really understood the problem and for this I will always check with a few experts in the team that we are clear on the issue that needs to be solved,”

“Then I look for the options. In my experience, particularly with complex problems, there is not always one fix. There are usually a few options each with their own compromises, so I ask the team to provide me with the options and the outcomes and then I assess which gives us the best outcome in that situation. A lot of my time is spent on solving problems.”

Allen says her key management strength stems from her vast experience in telecoms and other industries in many countries, as well as broad experience in different types of management functions.

“However I like to think one of my key strengths comes from my passion and my ability to be objective. I care a lot about what I do and I want to deliver the best for Ericsson in Thailand, including my team and the long-term future. I also hope that I act as a positive role model for female leadership,” she says.

Previously, Allen was the vice president of Ericsson’s industry and society customer unit, in Western Central Europe. In this role she was responsible for running Ericsson’s business with vertical industries in the spheres of automotive, energy, intelligent transport systems, public safety and shipping maritime. Her patch covered 16 countries in a broad swath of Europe.

“This role was super complex because we were starting up new business with new industries, I had to start up a small company in a big company – it was a very interesting challenge,” Allen says.

“As we were in an early phase, this role focused mainly on creating a strategy, building a team and creating some early wins. We had to perform a large and complex market assessment of five major industries (automotive, energy, transport systems, public safety and shipping maritime) in the 16 countries,” Allen says.

“A new team of many experts from around the world was built. This role combined many of the things that I like to do; we completed a good strategic piece of work, built a great new team with some superb talent and fresh perspectives.

“I learnt many new things very fast and I had to be very flexible as we were taking on very new types of challenges every day,” she said of the five industries that were involved.

“This ability to start up a new business across such a broad range of industries definitely tests your leadership strength and for sure is an experience I rely on for what I do now,” Allen says. “I also learnt a lot about those 16 countries across Western Central Europe. You never really know about a country unless you live there or do business there – then you learn.”

She adds that her parents and other family members, along with friends, have had a huge influence on who she is.

“I have also been focused on wanting to make a difference, and be intense and passionate about many topics. I cannot slow down easily. My mum used to say that as a child she felt like she was holding me back every day,” Allen says.

As for her leisure time and hobbies, the go-getter says: “When I was young I used to dance (ballet and contemporary) and do quite a lot of sport. However, now I have to manage my time between family and work, so I do not have much time for a fantastic hobby – it’s on the to-do list to develop one! I do try and keep fit and when I go out with my colleagues, I like to sing.”

Allen’s husband and three children – a boy and two girls – are here with her in Thailand. “When I am not at work I always spend my time with the family and vice versa. Work-life balance is a bit of a challenge, but that goes with this kind of job, so you have to manage it,” she says.

With Thailand embarking on the transition from the 4G landscape in telecommunications to the futuristic world of the 5G era, Allen finds herself juggling a hectic workload as she focuses on the vision of building a solid foundation for Ericsson as a leader in 5G and the Internet of Things (IoT) in Thailand.

“Thailand is an important market for Ericsson. We have been here for 112 years. My vision is to do the work today that builds the foundation for Ericsson to be a leader in 5G and IoT in Thailand,” she says. “There are many elements to this that involve different (radio and core networks) technologies.

The important part of continuing our journey here is mobile – and mobile networks would not be where they are today in Thailand without Ericsson.”

She adds that Ericsson is now conducting 5G trials and commercial activities in other parts of the world and will use this global capability to prepare itself locally to introduce the new technology.

She says that in early 2017 Ericsson was the first to demonstrate 5G in Thailand from its early prototypes. It will work to support its customers and partners to get the quickest possible 5G launch.

“5G is the next standard after 4G – 4G today is what allows you to have super-quick downloads of data and video and streaming. 5G is actually not designed with mobile data in mind; the concept is quite different. 5G will have the performance -bandwidth, speed and responsiveness – to support many new-use cases in different industry transformations,” Allen says.

“We believe that by 2026, Thai operators can benefit from an additional revenue opportunity of US$2.6 billion from a new concept known as IoT – and 5G will be a key foundation of this growth.”

Allen is encouraged by the government’s Industry 4.0 vision and that it has significant ambitions to use technology to progress Thailand in its economic outlook and on the global stage – and 5G will be a key enabler of this thrust, she says.

Events highlight agricultural innovation

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Events highlight agricultural innovation

Corporate August 31, 2018 17:26

By The Nation

Siam Kubota Corporation Co Ltd will organise the Kubota Showcase 2018 under the theme of “The Power of Agri-Innovation” from September 1-2 at Impact Muangthong Thani Hall 5.

September 1-2 at Impact Muangthong Thani Hall 5.

Highlights include Agri Machinery Innovation and Kubota Smart Agri System (KSAS), Kubota (Agri) Solutions and Max Revenue Farming Concept as well as Unmanned Agricultural Machinery technology, featuring drone-remote sensing to analyse plant growth and GPS/Wireless LAN/NIR technology for sugar-cane cultivation and analysis.

The company will stage two more events, in Khon Kaen from September 14-16 and Phitsanulok October 10-11.

AYA reaches for cloud with Microsoft transformation

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Soon Hoon Cheah, president of Microsoft Southeast Asia new markets,second from left, shakes hands with Myint Zaw, Aya Bank managing director, after signing a memorandum of understanding.
Soon Hoon Cheah, president of Microsoft Southeast Asia new markets,second from left, shakes hands with Myint Zaw, Aya Bank managing director, after signing a memorandum of understanding.

  AYA reaches for cloud with Microsoft transformation

Corporate August 31, 2018 01:00

By   KHINE KYAW
The Nation
Yangon

AYA BANK, the second-largest private bank in Myanmar, is tapping software giant Microsoft to bring in cloud technology aimed at boosting staff productivity and improving their services to customers.

Myint Zaw, managing director of AYA Bank, said at a press conference that the Microsoft Office 365 software package will help the bank achieve its ambitious goals.

“As the fastest-moving bank in Myanmar, we are committed to embracing global standards, and the constant improvement of customer experiences. So, this is a very exciting moment for us, to be partnering with Microsoft to embrace cloud with Office 365 as we take the next step in our digital transformation journey,” he said after the signing of a memorandum of understanding with Microsoft Myanmar on Wednesday.

Myint Zaw said the bank started working with Microsoft three years ago, and the discussions for signing the agreement to reach a more advanced level of cooperation began early this year.

Established in 2010, AYA Bank has 234 branches serving 1.4 million customers. As of September 2017, the bank had 4.7 trillion kyats in customer deposits and 150 billion kyats in shareholders’ equity. The top 100 depositors represent about 6 per cent of total deposits, underlining the public’s confidence in the bank, Myint Zaw said.

“We can rest assured that Office 365 will scale with us as we take on more staff, or create new product lines,” he said. The partnership with Microsoft was merely the first step by the bank in embarking on its much-needed digital transformation, he added.

Minn Wint Oo, deputy managing director and chief technology officer of AYA Bank, said the partnership was particularly aimed at helping the bank’s employees to provide better services, more quickly, to its customers.

“We expect all the operations to become faster than ever, as every single application can be accessible from anywhere in the country. Thanks to Microsoft’s cloud technology, we believe our internal operations will be faster than ever, resulting in our providing better services to our customers,” he said.

Sonia Kabir, managing director for Microsoft Myanmar, Bangladesh, Laos, Nepal and Bhutan, said digital transformation initiatives like the partnership with AYA Bank could make a big impact on Myanmar’s economy. “We have seen large reductions in the poverty rate, and the opportunity to improve women’s workplace participation and raise GDP growth, creating opportunities for both mobile and digital banking. This is a promising development for Myanmar,” she said.

Kabir said mobile usage has significantly increased in only a few short years, which is creating demand for mobility and mobile banking services.

Sook Hoon Cheah, president of Microsoft Southeast Asia New Markets, said digital transformation would improve people’s daily lives in Myanmar.

“This [agreement] seems to be a very plain statement but the implication is very profound. We are happy to play a role in bringing AYA Bank and Myanmar’s banking industry to the next level of excellence,” she said.

According to Cheah, Microsoft has been “empowering Myanmar banks to deliver new value and connected experiences, helping them to thrive and win greater loyalty” from customers in the digital age.

“We believe technology to be a strong democratising force for good: capabilities previously only accessible to the largest multinationals are now available to even small and medium-sized organisations all around the world,” she said.

In 2017, financial services that fully embraced digital transformation achieved 13 per cent to 20 per cent improvements in profit margins, productivity, customer advocacy, customer acquisition rates, and revenue from new products and services.

Businesses expect to add 70 per cent more in customer acquisition rate by 2020, according to figures from Microsoft and IDC Asia Pacific.

THAI NOT DUMPING NOK AIR

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THAI NOT DUMPING NOK AIR

Corporate August 31, 2018 01:00

By The Nation

Thai Airways International Plc (THAI) has no plan to increase its share in Nok Airlines Plc (Nok Air) and will not sell its stake in Nok Air to others investors, said a source in THAI’s board yesterday.

 “The board has continued to focus on the policy of collaboration between THAI, Nok Air, and Thai Smile. This is an on-going process to improve Nok Air’s financial performance,” the source said.

BLUE LINE MAINTENANCE

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BLUE LINE MAINTENANCE

Corporate August 31, 2018 01:00

By The Nation

Ch Karnchang has won the bid for the maintenance system of the Blue line route worth Bt2.77 billion, according to the company report to the Stock Exchange of Thailand yesterday.

The contract runs till the end of March 2027.

Digital ads tipped to rake in Bt15 bn for 21% lift this year

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Digital ads tipped to rake in Bt15 bn for 21% lift this year

Corporate August 31, 2018 01:00

By   JIRAPAN BOONNOON
THE NATION

SPENDING on digital advertising in Thailand is expected to exceed Bt15 billion this year, marking growth of 21 per cent from last year.

Pacharee Permvongusawa, business unit head – Digital, Publicist One and Committee of Digital Advertising Association (Thailand) (DAAT), said the 2018 forecast of 21 per cent growth comes after digital advertising for the first half of this year came in at Bt6.7 billion.

For the second half, spending is expected to top Bt8.3 billion.

Facebook, YouTube, Line and online video are the most popular platforms for advertisers. Advertising via Facebook made up around 30 per cent of the digital pie with Bt4.48 billion spent. YouTube accounted for 18 per cent at Bt2.7 billion.

Line made up 8 per cent at Bt1.14 billion. Videos accounted for 5 per cent of total digital advertising at Bt791 million.

Pacharee said that social media platforms are popular for advertisers as they can provide infor?mation and promote products and services to a mass market.

Social media in focus

Businesses will increasingly spend more money to promote their new products on social media, with Twitter and Instagram also among the draw?cards, she said.

The top five categories for digital advertising are automotive at Bt1.72 billion, telecommunica?tions at Bt1.65 billion, skin care and beauty prod?ucts at Bt1.25 billion, banking and financial |services at around Bt1 billion, and daily life prod?ucts.

A key factor that will drive digital advertising growth is the change in consumer behaviour as customers are now familiar with online shopping.

“The association believes that digital advertis?ing still has the potential for high growth and marketers will utilise data management and digi?tal marketing to support their businesses in order to increase the efficiency of their businesses as a whole,” said Pacharee.

The Electronic Transactions Development Agency (ETDA) reported that the value of the e-commerce market in Thailand by the end of this year will reach around Bt3 trillion, up 8.5 per cent from last year.

Yuanta Securities chief ordered pay to Bt578m in civil penalty

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Yuanta Securities chief ordered pay to Bt578m in civil penalty

Corporate August 31, 2018 01:00

By   THE NATION

2,061 Viewed

YUANTA SECURITIES (Thailand) chief executive Boonporn Boriboonsongsil has been ordered in a civil court case to pay Bt578 million in compensation to Maybank Kim Eng Securities Thailand (MBKEST) for holding the latter’s confidential information.

On June 16 last year, MBKEST, through chief executive officer Montree Sornpaisarn, filed a case against Boonporn and Yuanta’s Bhuripat Kheoboriboon, a former MBKEST director and head of its corporate communications department, and other executives for holding MBKEST’s confidential information – commission fees for investment consultants – for Yuanta Securities (Thailand). The action also claimed that the accused had unfairly persuaded 205 MBKEST employees to work for Yuanta Securities (Thailand).

The court yesterday ruled that Boonporn must pay the Bt578.15 million in compensation to MBKEST, plus 7.5 per cent interest on the principal starting from June 16, 2017.

Montree said that he is ready to negotiate with Boonporn, who was a former CEO and top executive in securities business for retail clients of MBKEST.

He insisted on there being no contact from Boonporn for any negotiations since the court’s ruling, indicating that MBKEST “is ready to negotiate on an accurate and fair standard”.

Montree said that he had done his duty to protect the shareholders’ benefits as MBKEST is listed on the stock exchange and the court’s decision has bolstered the work standards and corporate governance of companies listed in capital markets and other businesses.

“We respect the court’s decision. We are glad for this protection which helps to upgrade the operating standards of each business and the listed companies,” he said.

Boonporn said that she would appeal against the court’s ruling, while expressing confidence that the legal process would not affect work management and that she would continue to perform her duties at the highest standards.

In the same lawsuit, Bhuripat was dismissed from the charge. He said he would press ahead with pursuing a criminal case that he filed against MBKEST and Montree for alleged falsification and defamation.