The plan to set up the largest solar power house in Southeast Asia has advanced towards realisation with two sponsors – Thailand’s B Grimm Power and Xuan Cau of Vietnam – signed a partnership accord.

The landmark agreement for the 420-megawatt facility in Tay Ninh, south-west of Vietnam, was concluded by executives of the companies in Bangkok and witnessed by Thai Prime Minister Prayut Chan-o-cha and his Vietnamese counterpart Nguyen Xuan Phuc.The accord underscores the joint venture partners’ commitment to start commercial operation from the Tay Ninh project next year.

The project got off to a good start and we are on track to meet the COD (commercial operation date) in June 2019,” said Preeyanart Soontornwata, CEO of SET-listed B Grimm Power Plc (BGRIM).

The joint venture has recently finalised a deal with a contractor to perform engineering, procurement and construction (EPC) for the project.

Talks are also underway with several local and international financial institutes for project funding, she said. For BGRIM, the Vietnamese solar power venture will contribute significantly to the group’s revenue and earnings growth.

In particular, it will help driving revenues from its overseas power projects committed by BGRIM to account for 30 per cent of its overall income in 2022 from 6 per cent currently. The Tay Ninh scheme is a robust collaboration between BGRIM, a leading private power producer in Thailand, and Xuan Cau Co Ltd, one of the largest conglomerates in Vietnam, whose diverse businesses range from real estate to trading and service, and from energy to infrastructure.

THAILAND POST, SELF-MADE MILLIONAIRES HOST MEET

Thailand Post Co Ltd, in collaboration with a group of young, self-made millionaires, recently hosted the “Shift online business to hundred million” seminar for young people who are interested in being entrepreneurs.

Samorn Terdtampiboon, managing director of Thailand Post Co Ltd, said more young people have now become “self-made millionaire” “We (Thailand Post) sees the importance of entrepreneurs. We are helping both new and existing entrepreneurs in coping with with current market changes including online and social media tools,”

At the seminar, participants were educated on techniques and tools as well as in-depth knowledge of the online world, including how to inspire oneself, using technology to grow business, digital tools to ease the business, and how to distribute merchandises effectively to consumers. Thailand Post also provided knowledge to support e-commerce via its e-logistic services, coming up with new delivery services to respond to the needs of individual entrepreneurs.

INSURER ON WAY TO YEAR’S TARGET AFTER STRONG Q1

Allianz Ayudhya Assurance has reported a strong performance for the first quarter of 2018, with revenue from total premium of Bt8 billion, a 3.7 per cent increase. The company aims at becoming No 1 in life and health protection insurance while achieving revenue from total premium of Bt34 billion as targeted by the end of this year.

Bryan Smith, president and chief executive officer, Allianz Ayudhya Assurance Public Company Limited, stated that “In the first quarter of 2018, Allianz Ayudhya was able to show strong performance. The total premiums from all channels reached Bt8 billion, up 3.7 per cent from the same period last year despite the slowdown economy. Agency channel remains the most important channel with the total premiums of Bt3 billion, a 3 per cent increase. Bank Assurance channel grows continuously as it generated premiums of up to Bt2.7 billion, 6.2 per cent increase. Direct marketing channel still ranked first in the market with a combined premium of Bt1.2 billion, 0.5 per cent increase.”

Allianz Group had a good start into 2018, posting a 6.8 per cent rise in net income attributable to shareholders. Internal revenue growth, which adjusts for currency and consolidation effects, was 4.9 per cent with positive contributions from all business segments.

Total revenues increased 0.7 per cent to 36.5 (first quarter of 2017: 36.2) billion euros. Operating profit decreased 6.0 per cent or 176 million euros to 2.8 (2.9) billion euros.

The main drivers for the decrease were 142 million euros currency translations and 148 million euros benefit in the prior year related to our corporate pension administration. Operating performance for the quarter is precisely at 25 per cent of the group’s full-year operating profit target, signaling that results are well on track.

The planned investment is in a 1.4-megawatt biogas power plant, which Green Saving Energy Thailand has operated for the generation and transmission of electricity for sale to the Provincial Electricity Authority since April 2015.

The board resolved that TMGE would sign a share-purchase agreement on June 16 and pay the first tranche of Bt5 million to run the due diligence within the period of 45 days, until July 30.

Should the investment project be deemed unreasonable following due diligence, TMGE will make no investment in Green Saving Energy Thailand, whose shareholders will return the Bt5 million by the end of August.

The changes took effect on June 15.

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The transaction is expected to be completed by this coming Friday.

The sale of Seamico’s 6,796,500 shares in TCSC is equivalent to 61.168 billion Vietnamese dong, or around Bt85.76 million based on the Bank of Thailand’s exchange rate as of June 14, the company said.

Witnessed by Prime Minister Prayut Chan-o-cha and his Vietnamese counterpart, Nguyen Xuan Phuc, the agreement was inked last Friday by B Grimm Power chairman Harald Link and president Preeyanart Soontornwata, and by Xuan Cau Co Ltd chairman To Dung and chief executive officer Dao Trong Khanh.

The 420MW solar power plant will be developed in Tay Ninh, in the southwest of Vietnam, and will be the largest solar power plant in Southeast Asia when scheduled commercial operations commence next year.

The company is on track to undertake comprehensive development of its products, including digital channels, and to employ data analytics for gaining in-depth understanding of demand, which will assist in devising proactive product offerings without awaiting customers’ requests, executive chairman Sasawat Virapriya said on Monday.

The strategy is expected to result in a greater number of loan approvals and financing under KLeasing’s K-Auto Finance refinancing product, with significant growth likely to be generated this year, he explained.

Auto sales in Thailand have been on an uptrend since the turn of the year, with sales amounting to 316,299 units in the first four months, representing more than 15.5-per-cent year-on-year growth. This trend will likely continue throughout the year and total auto sales could reach around 484,000 units during the second half, equal to annual growth of more than 5 per cent, Sasawat said.

Therefore, the full year could see sales of 950,000 units, some 9 per cent more than the 2017 level.

Such performance is mainly supported by the recovering economy, with respect to expanding public and private investments, tourism and e-commerce, which benefit transport and service businesses, the executive chairman added.

In addition, carmakers have continually launched new series, while the auto-financing business of commercial banks is forecast to grow 10.5 per cent this year, with improvements being seen in the non-performing-loans – those overdue for over three months – trend, he said.

President and CEO Bundit Sapianchai said the company on June 15 purchased the entire equity of Lom Ligor, operator of the project in Pak Panang, with the investment including share acquisition and construction not exceeding Bt825 million.

The project is under construction but expected to start commercial operations by the end of 2018.

The acquisition was in line with BCPG’s commitment in expand into other technologies of renewable energy in Thailand in addition to solar.

This was the first time the company had invested in wind energy in Thailand following its investment last year in PetroWind Energy Inc, which runs a 50MW project in the Philippines.

“I’m positive that the investment in this project will generate satisfactory returns, with electricity sales at approximately Bt7 per unit for 10 years,” Bundit said.

“While this is a good opportunity for BCPG to expand our renewable energy base in Thailand, it is also a great way to enhance our employees’ expertise in wind power business.

“Electricity produced in Pak Panang, a location with frequent and sustained winds, will help respond to the increasing electricity demand in southern Thailand.

This investment has been conducted taking into account all stakeholders, returns to shareholders, community care, and the ecosystem and environment, in line with the company’s sustainable-development policy,” he said.

“In addition to business expansion in renewable power plants, the company is now entering the retail business, using blockchain to enable peer-to-peer renewable-energy trading of the electricity generated from solar rooftops, providing consumers with more access to renewable energy, for long term and sustainable growth for the company.”

This was in line with fried chicken and far ahead of Western food competitors such as pizza and hamburgers.

Jim Fralick, co-founder of Food Tracker, and has been working in the Thai restaurant market for more than 10 years.

“The quick-service and casual-dining market in Thailand is very dynamic,” he said. “Thai consumers have developed a strong appetite for Japanese food and the number of Japanese brands has multiplied over the past few years. The growth in the popularity of Japanese food in Thailand over the years has been impressive.”

In this fast-paced environment of growing consumer demand, changing behaviour and growing competition, Food Tracker and Marketbuzzz have partnered to change how consumer market research supports the Thai retail industry.

Bangkok-based Food Tracker has taken a different approach that enables small and medium-sized Thai restaurant companies the opportunity to track changing consumer habits which was never before possible.