EGAT TO CUT WORKERS

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http://www.nationmultimedia.com/detail/Corporate/30350735

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EGAT TO CUT WORKERS

Corporate July 25, 2018 01:00

By The Nation

The Electricity Generating Authority of Thailand (Egat) plans to cut its staff number from 21,000 to 15,000 in 2023 under a business restructuring plan, said Witoon Kulcharoenwirat, chairman of board after a meeting yesterday.

Witoon is also director-general of Energy Business Department of the Energy Ministry. The board also approved to reduce the number of deputy governors from 13 to 8 next year, after the retirements of three.

After US ban, Kaspersky Lab relocates to Switzerland

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http://www.nationmultimedia.com/detail/Corporate/30350738

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After US ban, Kaspersky Lab relocates to Switzerland

Corporate July 25, 2018 01:00

By   NOPHAKHUN LIMSAMARNPHUN
THE NATION

IN A bid to reassure customers of its products’ integrity following a US government ban, cyber-security firm Kaspersky Lab has opened its first transparency centre in Switzerland as part of a global initiative to ease concern.

Kaspersky Lab, founded by Eugene Kaspersky, a Russian cyber-security expert, has faced what it calls unfounded US accusations due to its ties with the Russian state.

Citing security and other concerns, the US government earlier imposed its ban on the firm’s products, resulting in some customers’ concern in the international markets, including those in Asia Pacific and Thailand.

The firm has been fighting back with a new public relations and marketing campaign to dismiss as groundless the allegations that its products could lead to possible backdoor and other unlawful access to customers’ data.

In this context, Kaspersky Lab has also moved its core processes from Russia to Switzerland, including customer data storage and processing facilities as well as software assembly and threat detection updates.

In addition, an independent third party based in Switzerland, will supervise these activities to ensure global transparency and collaboration. The relocation will be |completed next year, covering users in Europe, North America, Singapore, Australia, Japan, South Korea and other markets with products and threat detection rule databases built and certified in Zurich, before being distributed to customers worldwide.

Paradigm shift

Stephan Neumeier, managing director of Kaspersky Lab Asia Pacific, said the firm is pushing for a paradigm shift in greater transparency for the cyber security industry by making available the source code of its products and software updates for review by responsible stakeholders.

According to Anton Shingarev, vice president for public affairs, protectionism and balkanisation have hit the cyber security industry so the firm needs to address this issue by setting the new standard on transparency and accountability.

Neumeier said businesses should request the source code disclosures so that biases will be eliminated for greater public benefits.

Oleg Abdurashitov, head of public affairs for Asia Pacific, said there is a tendency to squeeze foreign cyber-security firms out of their respective markets amid the growing militarisation of cyber space.

He said Kaspersky Lab is in trouble because it’s ahead of the curve in the cyber-security sector and some foreign governments are not happy about the firm’s ability to detect threats anywhere and in any language.

Neumeier admitted that some customers might be worried about the possibilities of the Russian government accessing Kaspersky’s infrastructure so the firm decided to set up the first transparency centre in Switzerland, which has a strict law on data protection.

It is also difficult to get a court order to release any sensitive data in Switzerland.

Overall, the firm expects to regain customer trust in its products following the US government’s action against the firm.

Besides Zurich, the firm also has discussed plans to open more transparency centres in Singapore and Canada to create a global network for accountability and trustworthiness.

The US was previously a major market for Kaspersky Lab’s products.

As a result of the US government’s ban, the firm has stepped up marketing efforts in other parts of the world, especially Asia Pacific and Southeast Asian markets where sales growth rates remain double-digit.

OneSiam Kbank Credit Card launched

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http://www.nationmultimedia.com/detail/Corporate/30350739

OneSiam Kbank Credit Card launched

Corporate July 25, 2018 01:00

By The Nation

Kasikorn Bank (KBank) and Siam Piwat Co Ltd have teamed up to usher in a new standard for credit cards with the launch of “OneSiam KBank Credit Card”, expecting to gain 100,000 cardholders with total spending of more than Bt5.7 billion in a year , the bank’s senior executive vice president Wirawat Panthawangkun said at press conference.

He added that the bank has 2.6 million cards in its customer base with estimated total spending of Bt175 billion for the first half of 2018, based on the average monthly spending of Bt21,000 per card.

The launch of OneSiam KBank Credit Card is the synergy of leadership between KBank, as the trailblazer in the credit card industry and Siam Piwat, the owner of One Siam, a global destination.

Comprising Siam Paragon, Siam Centre and Siam Discovery, One Siam draws throngs of high spending shoppers every day.

SYNOLOGY THAI VERSION OF DSM, WEBSITE INTRODUCED

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http://www.nationmultimedia.com/detail/Corporate/30350740

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SYNOLOGY THAI VERSION OF DSM, WEBSITE INTRODUCED

Corporate July 25, 2018 01:00

By The Nation

Synology Inc, one of the leading NAS providers, has launched the Thai version of its award-winning NAS operating system – DSM, and a new Thai website to optimise local user experiences.

A dedicated team with Thai members will put focus on enhancing its local service for the Thai market. With new product development plans aligned across three key trends in tech (AI, HCI, and 5G) as well as the localisation investments, Synology aims to increase revenues by 50 per cent in Thailand for 2018.

In Thailand, Synology sales have increased on average by 20 per cent each year since 2015, driven by the storage demand from the local market. With the recently-released Thai DSM interface, the new Thai version website will also be introduced this quarter, along with localised marketing materials and a dedicated on-the-ground sales and marketing team to accelerate brand awareness in the country, says Mike Chen, Marketing Director for Synology.

Krungsri Motorcycle aims for Bt16.7 bn in new loans

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http://www.nationmultimedia.com/detail/Corporate/30350741

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Krungsri Motorcycle aims for Bt16.7 bn in new loans

Corporate July 25, 2018 01:00

By The Nation

Ayudhya Capital Auto Lease Plc (Krungsri Auto) has announced Krungsri Motorcycle’s impressive first-half new lending volume of Bt8.9 billion, a year-on-year growth of 19 per cent, while motorcycle sales and the overall motorcycle finance market shrank by two per cent.

It sets to achieve 31 per cent market share of motorcycle finance by yearend, reinforcing its number one position for five consecutive years, the company’s managing director Kittiya Srisanit said yesterday.

By the end of 2018, the company aims to achieve Bt16.7 billion in new lending volume of motorcycle loans, a 7 per cent year-on-year growth, It targets Bt26 billion in loan outstanding, a gain of 16 per cent from last year, she added.

Grab launches AI lab with National University of Singapore

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http://www.nationmultimedia.com/detail/Corporate/30350726

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Grab launches AI lab with National University of Singapore

Corporate July 24, 2018 17:22

By The Nation

Grab, one of the most frequently used online-to-offline mobile platforms in Southeast Asia, and the National University of Singapore (NUS) on Tuesday launched an artificial-intelligence laboratory to develop solutions to transform urban transportation and pave the way for smarter cities in the region.

The Grab-NUS AI Lab, which has been set up with a joint initial investment of 6 million Singaporean dollars (Bt147 million), is Singapore-based Grab’s first major AI laboratory and NUS’s first AI lab with a commercial partner.

Anchored at the NUS Institute of Data Science in the city-state, the Grab-NUS AI Lab will leverage data from the Grab platform to solve complex, real-world challenges in Southeast Asia.

Having facilitated more than 2 billion rides, Grab’s vast troves of data provide deeper insights into how cities across Southeast Asia move today.

By combining the data with NUS’s research expertise in the field of AI, the two partners can map out traffic patterns and identify ways to directly impact mobility and liveability of cities across Southeast Asia, Grab said.

Anthony Tan, co-founder and chief executive officer ofGrab, revealed how the insights from the Grab-NUS AI Lab could make a difference for Bangkok, starting today: “Data from our Grab platform can map out the traffic patterns and evolution in mobility for cities across Southeast Asia. For example, our data shows that travel time for Pratunam Market to Don Mueang Airport can be drastically improved today.

“If this route would be better served by more shared transport solutions, such as buses, trains, ride-sharing, we could bring travel time during peak hour down by 25 per cent all the way from 45 to 34 minutes. I look forward to working with governments to turn the data from the Grab-NUS AI Lab into solutions.”

The Grab-NUS AI Lab is located in the innovation 4.0 building situated on the NUS Kent Ridge campus, and will be home to 28 researchers working on various AI projects.

EXIM Thailand inaugurates representative office in Vientiane

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http://www.nationmultimedia.com/detail/Corporate/30350724

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EXIM Thailand inaugurates representative office in Vientiane

Corporate July 24, 2018 17:13

By The Nation

Export-Import Bank of Thailand (EXIM Thailand) on Tuesday inaugurated its Vientiane representative office. Bank president Pisit Serewiwattana said EXIM Thailand had received a licence to operate its second overseas representative office, located in the Lao capital.

The office is ready to offer financial and advisory services to Thai exporters and investors interested in international business expansion, he added.

The official opening ceremony will take place in November.

Thailand is Laos’s second-largest export market, the largest as a source of imports and the second- biggest foreign investor in the country after China.

Major Thai exports to Laos include refined fuel, automobiles and parts, steel and steel products, chemicals, cosmetics and skincare products.

EXIM Thailand’s first overseas representative office was opened in the Myanmar city of Yangon last year.

Joint bid to turn recycled plastics into roads

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http://www.nationmultimedia.com/detail/Corporate/30350670

Joint bid to turn recycled plastics into roads

Corporate July 24, 2018 01:00

By THE NATION

2,653 Viewed

DOW THAILAND Group and SCG recently announced a joint effort to turn recycled plastics into asphalt roads to help reduce plastic marine debris, enhance road performance and potentially reduce greenhouse gas emissions during construction.

Currently, Thailand is ranked 6th out of 192 countries as the major contributor of plastic ocean debris. According to the Department of Marine and Coastal Resources, there is approximately 11.5 million tonnes of waste in the country’s 23 coastal provinces with more than 1.5 million tonnes consisting of plastics.

Dow and SCG are working together to provide a valuable end of life solution to the plastic waste to ensure it does not end up as marine debris. This project helps further Dow’s 2025 Sustainability Goals to advance a circular economy by delivering solutions to tackle environmental issues, raise awareness on recycling and reuse of plastics and create a sustainable business environment for plastics producers and consumers alike.

“Dow’s 2025 Sustainability Goals can only be achieved by partnering with like-minded organisations who share our mission in the communities where we live and work,” said Jeff Wooster, Global Sustainability Director, Dow Packaging & Specialty Plastics. “The collaboration with SCG in finding a valuable end of life solution for plastic waste used in new road development brings us one step closer to realising these goals, as well as minimising the environmental footprint of plastics.”

Dow recently partnered with local organisations in India and Indonesia to conduct similar projects that turned recycled plastic into asphalt roads. In India, more than 100 metric tonnes of recycled plastics were converted to roads that stretched 40 kilometres in the cities of Pune and Bangalore. In Depok, Indonesia, the first plastic road trial resulted in turning 3.5 metric tonnes of plastic waste into a road nearly two kilometres in length covering a total area of 9,781 square metres. This technology helped create a new value to plastic waste that otherwise would be landfilled or in the environment as land or ocean litter.

This project combines Dow’s knowledge and expertise in materials science with our close collaborations across the industry to result in something that is good for our communities as well as the environment,” said Chatchai Luanpolcharoenchai, President of Dow Thailand Group. “This solution is one of the ways we are advancing a circular economy right here in Thailand.”

Roongrote Rangsiyopash, President and CEO of SCG said, “SCG has been partnering with local and international organisations to create sustainable circular economy. This collaboration with Dow Thailand Group will create value to plastic waste and enhance knowledge and expertise exchange in technology and R&D, which SCG always values as tools to enrich circular economy. This recycled plastic–based road innovation is environmentally friendly and will genuinely improve people’s quality of life.”

Commercial Bank inaugurates micro-finance firm in Myanmar

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http://www.nationmultimedia.com/detail/Corporate/30350672

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Commercial Bank inaugurates micro-finance firm in Myanmar

Corporate July 24, 2018 01:00

By THE NATION

THE COMMERCIAL Bank of Ceylon has opened a microfinance company as its second subsidiary in Myanmar, two years after opening a Representative Office in Yangon that offers advisory services, banking, funds transfer and encashment services to Sri Lankan and Bangladeshi businesses operating in the country.

Commercial Bank’s Chairman Dharma Dheerasinghe presided at the formal opening of CBC Myanmar Microfinance Company Ltd (CBC Myanmar) in Nay PyiTaw on July 16, accompanied by Managing Director Jegan Durairatnam and members of the senior management of the bank. The company was incorporated as a limited liability company and received a licence in January 2018 to engage in microfinance activities authorised by the Financial Regulatory Department (FRD) of Myanmar.

CBC Myanmar will offer group loans and individual loans to customers who require micro-finance facilities and plans to accept savings deposits from the general public with the approval of the regulator.

The business model will be based on a hybrid of Grameen and Association for Social Advancement (ASA) Group lending methodology, adapted to the needs of borrower expectations in Myanmar, a Commercial Bank announcement said. CBC Myanmar will promote access to finance for bottom-of-the-pyramid borrowers, empowering them to improve livelihoods and progress out of poverty. The company will also target the micro and small entrepreneurs where there is a huge unmet demand in Myanmar, considered a virgin financial market.

“We have high expectations for our operations in Myanmar,”Durairatnam said. “The financial sector of Myanmar is still under-developed and has a significant unmet demand for microfinance. The country has attracted the interest of several countries including USA and received assistance from the Asian Development Bank to improve its economy.”

CBC Myanmar intends to provide credit, savings, business and livelihood development services to clients, initially offering credit, compulsory and voluntary savings and progressing to micro insurance and micro remittances when the host country’s microfinance law permits.

Business model

Elaborating on the business model, Mr Durairatnam said: “From inception, CBC Myanmar will take a triple bottom line approach and will focus on both social and financial performance. The lending methodology will be carried out in line with accepted social values. The company will be fully committed to implementing Smart Campaign Client Protection Principles (CPP) as a means of demonstrating its commitment to putting the customer at the centre of the business.”

The key of management posts have been filled by expatriates from Sri Lanka. All other vacancies are expected to be filled through local recruitment, the company said.

Myanmar was Commercial Bank of Ceylon’s second overseas operation after Bangladesh, which the Bank entered in July 2003, with the acquisition of the Bangladesh operations of Credit Agricole Indosuez (CAI), its first ever acquisition of a banking operation. Today, Commercial Bank’s operations in Bangladesh have grown to 19 outlets, and have won numerous awards including the Financial Mirror – Robintex Business Award for outstanding performance, the Financial News Services (FNS) Business Award for the ‘Best Performing Foreign Bank’ in Bangladesh and the ICMAB, National Best Corporate Award.

Commercial Bank’s other overseas operations encompass the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake and Italy, where the Bank operates its own money transfer service.

At A Glance

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http://www.nationmultimedia.com/detail/Corporate/30350673

  • Kubota aims for agricultural innovation
  • Starbucks offers souvenir for Mid-Autumn festival
  • Tetra Pak A3 to speed up UHT milk pack production

At A Glance

Corporate July 24, 2018 01:00

By The Nation

Kubota aims for agricultural innovation

 Hiroto Kimura, president of Siam Kubota Corporation Co Ltd, and Somsak Mauthorn, senior executive vice president, recently announced the company’s ten-year strategy to become a brand of “agricultural innovation for the future” with the business principles of developing machinery for precision farming and piloting the use of big data in order to bring about secure and sustainable growth for all sectors.

Tetra Pak A3 to speed up UHT milk pack production

Bert Jan Post, Managing Director and Robert Karlson, Technical Key Account Director of Tetra Pak (Thailand) Limited, a food processing and packaging solutions company, were present at the installation of Tetra Pak A3/Speed filling machine, designed and developed by Tetra Pak, at Dairy Farming Promotion Organisation of Thailand’s UHT milk production plant in Khonkaen Province.

The new machine, built with the highest food safety standard, will run at the speed of 24,000 packs per hour, or approximately seven packs per second. It will help triple the production capacity to meet the demand for UHT milk of Thai consumer.

Starbucks offers souvenir for Mid-Autumn festival

Starbucks Coffee Thailand invites you to celebrate this year’s Mid-Autumn festival on September 24 with souvenir mooncakes in five flavours – Starbucks Coffee (single egg), Montong Durian (single egg), Starbucks Green Tea and Red Bean, Chocolate Mint, and Ngow-Ying fillings. The deep purple package, inspired by a starry night sky and the full moon, is decorated with beautiful golden stripes. Customers can choose between sets of either 2 or 4 pieces.

Premium sets are also available this year, coming with 4 mooncakes and a coffee cup and saucer in a luxurious box, making it an ideal souvenir for this special occasion.

Starbucks mooncakes will be available at every Starbucks store nationwide from July 23 until September 30 or while supplies last.