If achieved, this would be some 17.8 per cent higher than last year’s level.

President Tan Passakornnatee said the tea-maker’s export sales would grow significantly in 2018 as there were already substantial pre-orders from the CLMV area, comprising Cambodia, Laos, Myanmar and Vietnam.

Ichitan expects overseas revenue to increase to 27 per cent of overall targeted sales by the year’s end.

Meanwhile, the domestic beverage market is showing an improving trend, Tan said.

It is not only Ichitan’s strategy to penetrate all customer categories, but also to focus on expanding sales channels in both domestic and export markets, he added.

Last year, Ichitan generated a net profit of Bt315 million and revenue of Bt5.688 billion, due to the growth of exports.

The domestic tea market shrank, while the cost of goods sold rose due to stiff competition, the statement said

The company on Tuesday launched the “Smart Value for All” four-year growth vision with significant investment, which marks a step change in its evolution toward becoming “Smart” and sets out its ambitions and priorities.

“In developing the vision for growth, the company invested in a study to understand our consumers and translate their insights into our compelling vision and strategies. The vision is also in response to the changing social trend and the government’s ‘Technology 4.0’ initiative to promote and transform Thailand into a cashless society,” said Salman Saadat, country chairman and general manager-products at Chevron (Thailand).

“Now as we look to the future, we have set an ambitious growth target during 2018-2021. In order to achieve our growth vision, we have identified several key areas to transform our future growth and further strengthen our network presence in Thailand, including Smart Station, Smart Services, Smart Platform and Smart Partnership, and Smart Product,” he explained.

With regard to “Smart Station”, the biggest portion of investment will be allocated to expanding Chevron’s retail network and developing a new design for its service stations.

The company plans to add 50 sites per year through 2021, which will bring the total to over 575 stations nationwide, with a focus on strategic location selection, the country chairman said.

It is working to finalise the new Caltex service-station design, which will integrate consumers’ needs, value and location of the service station into the design elements.

This will apply to both new stations and, gradually, to existing stations.

Chevron expects to launch a new flagship service station in the fourth quarter of this year, he added.

The banks announced their strategic partnership on Tuesday at the Bank of Thailand, with the QR Code payment service due to commence in May.

Thanachart will settle bills for Thai vendors that accept QR Code from Lao citizens who use BCEL’s mobile banking application, Thanachart said.

About 1 million Thai vendors have registered for using QR Code, said Bank of Thailand Deputy Governor Ruchukorn Siriyodhin, who witnessed the signing of the collaboration deal between the two banks.

Nanthalath Keopaseuth, deputy managing director of BCEL, said QR Code payment had been gaining in popularity in Laos as the number of registered vendors was rising by 20 per cent a month, and transactions by 10 per cent per month.

The joint venture aims to provide services not only in Thailand but other countries in the Asean Economic Community (AEC), the partners said. It expects to generate revenue of Bt2.5 billion by the end of this year and between Bt5 billion and Bt10 billion in revenue by 2021.

A company press release said Zhongtian Overseas Engineering (Thailand) would offer “different construction technologies and internationally recognised engineering know-how in response to all types of construction requirements”. The company said it expected to become Thailand’s leading construction firm in the near future.

Li Yuzhong, managing director of Zhongtian Overseas Engineering (Thailand) and executive member of Zhongtian Construction Group, said that Zhongtian Construction Group’s objective was to build new landmarks in several cities.

This would cover business districts in China and its autonomous regions and over 20 counties. It expected to expand to countries in Africa, the Middle East, South Asia and Southeast Asia.

The company’s achievements include the Hangzhou Olympic and International Expo Centre in Hangzhou, Zhejiang, and Zhengzhou Greenland Central Plaza in Henan.

Centara said in its press statement that Rujapa has over 20 years of experience in human resources in consulting, general administration and organisational development for leading companies such as Accenture, Kimberly-Clark, and Robert Bosch. Before joining Centara she was the Learning & Development Lead, of Asia Pacific Region, for PepsiCo Services Asia Ltd.

She holds a master’s degree of Science in Analysis, Design and Management of Information Systems from The London School of Economics and Political Science in the UK. The appointment will support Centara’s ambitious plans to double in size over the next five years, expanding its footprint further into Asia, the Middle East, and Africa.

Rujapa said: “I am really excited for the opportunity to work for Centara. While I will be focusing on success, long-term stability and ongoing development of people at Centara, I am very aware of the present opportunities within this industry, and am looking forward to being part of the success of this five-year journey and beyond.”

“We are fortunate to have Rujapa join our team” said Thirayuth Chirathivat, Centara’s CEO. “Her knowledge and experience will be important for our strategies to expand and improve our operating capabilities, and I know she will contribute invaluably to the success of Centara Hotels & Resorts.”

Last year, the third Board of the Forum was held in Milan, Italy, and its success led to the signature of the MOU of Italian-Thai Business Forum by the co-chairs, Busaba Chirathivat, executive vice president of the Central Group, and Carlo Pesenti, CEO of Italmobiliare.

The ITBF has received an official political recognition by the ministers of foreign affairs of the two countries in both their meetings held in Bangkok on February 9 and Rome on March 2.

The forum is a privileged channel for high-level meetings of the Italian and Thai private sectors and also an effective platform to enhance mutual cooperation and improve economic relations between the two Countries.

The two groups represent approximately US$500 billion in total financial assets.

In 2018, the fourth meeting was hosted by Busaba Chirathivat. The Italian and Thai business community enthusiastically discussed trade and investment promotion this year.

In 2017, the trade value of the two countries has been around $3.7 billion, increasing by 0.8 per cent from the previous year.

Moreover, the forum has been a key opportunity to share detailed trade and investment news and information concerning programmes of the countries such as the Eastern Economic Corridor Development Plan under the “Thailand 4.0” scheme, aiming at revitalising and enhancing the well-known Eastern Seaboard development programme that had supported Thailand as a powerhouse for industrial production for over 30 years.

A crucial commitment of the board members has been also to further advance cooperation in vocational schools and design and to develop specific training for entrepreneurs, two areas regarded as extremely crucial by the BoT.

Last but not least, the forum has been also a special occasion to celebrate the 150th anniversary of diplomatic relation between Italy and Thailand in 2018.

The Italian board members participating in the event were Italmobiliare, Cavagna, CMC Ravenna, CNH Industrial, Danieli, Ducati, Faber Industrie, Ferrero, Generali, Leonardo Company, Pirelli, SACE, Unicredit and Vittoria, and two new members, Inalca Food and Beverage (Cremonini Group) and SAIPEM.

On the Thai side were Central Group, GPSC, Bangkok Bank, Thai Airways, Thai Summit, Singha Corporation, Mitr Phol Group, Dusit Thani, SCG, Thai Union, Thai Hua Rubber, Inoue Rubber, Von Bundit, Merchant Partners, Thaivivat and Deesawat Industries.

The next Business Forum is scheduled in 2019 in Italy.

Cargill also affirmed its strong commitment to continue investing in the Thai economy and contributing to the development of the country’s agriculture sector.

Over the past 50 years, Cargill has invested US$1 billion to establish a strong agriculture business in Thailand that today employs more than 17,000 people in 14 locations and offers vast business opportunities to farmers.

Cargill’s investment includes building, acquiring, expanding and maintaining physical assets in Thailand.

Its operations comprise the origination, sourcing, processing, handling, distribution and marketing of a wide range of products, including agricultural commodities, animal feed, cooked poultry and food, as well as food and beverage ingredients.

It also contributes to Thailand’s economic growth through the export of agricultural commodities and food products. Cargill is one of Thailand’s largest exporters of cooked poultry chicken products.

Cargill Asia-Pacific chairman Alan Willits, speaking at the Board of Investment seminar, said, “Thailand is an important growth market for Cargill. We are confident that Thailand 4.0 will further advance the country’s economic prospects and business opportunities.

“As we celebrate our company’s 50th anniversary in Thailand, I can affirm Cargill’s commitment to uphold our strong relationship with the Thai government and people, and to continue investing in the Thai economy for years to come.”

Cargill opened its first facility in Thailand in 1968, making 2018 a major milestone for the company.

Nath Vongpanich, president of CRG, said the group will allocate approximately Bt2 billion a year over the next five years, of which Bt500 million each will be spent on new stores and marketing campaigns, with the remaining Bt1 billion earmarked for technologies as well as mergers and acquisitions.

The company yesterday also announced the roll out of its ‘Change for Growth’ strategy, intended to increase the number of brands in its portfolio and co-investments with small operators under its ‘Let’s Succeed Together’ scheme. To maintain the leading position in the chain restaurant segment through cashing in on macro-economic advancement, CRG has recently reached a deal with a major delivery service operator in Thailand while penetration into Vietnam is imminent as part of the group’s Asean expansion.

Nath said the company currently operates about 900 restaurant outlets under 11 brands, comprising Mister Donut (338), KFC (243), Auntie Anne’s (151), Pepper Lunch (32), Chabuton Ramen (18), Cold Stone Creamery (20), The Terrace (15), Yoshinoya (15), Ootoya (43), Tenya (7), and Katsuya (20).

“With the latest budget, we will increase the number of new restaurants in our existing brands by no less than 60-70 outlets a year,” he said.

CRG posted Bt10.98 billion in total revenue last year while the combined net profit of all brands increased by over 15 per cent. The company expects its revenue to increase by 11 per cent to about Bt12 billion this year.

“Our plan in 2018 is to further cement the company’s leading position in the food chain industry, supported by 11 fast food brands in the portfolio built up over the past 40 years. The goal is to raise our share in the Bt140-billion food chain segment, part of the Bt400-billion vibrant food industry, from the current 8 per cent,” said Nath.

“The biggest challenges foreseen in the next five years are the arrival of new rivals in this competitive market as well as behavioural adjustment among the new generation of consumers,” he said.

“We will overcome these by developing new brands in key restaurant segments in order to diversify risks and create new opportunities for growth. We will also develop new partnerships with individual entrepreneurs.

We will also adjust swiftly to our new DNA by focusing on innovations amid the new consumer lifestyle, together with the development of new technologies,” said Nath.

Nath said the group’s “Change for Growth” strategy comes with three main aspects. First, new restaurant brands will be introduced through the acquisitions of new brands and franchises as well as co-investment on top of new business concepts and platforms to reach out to consumers and expand customer base in Thai and overseas markets. CRG’s investment activities will be revved up in 2018 under the “Let’s Succeed Together” scheme, whereby small and medium-sized restaurant operators or SMEs are invited for co-investments. While SMEs are vital to the economy, CRG boasts strengths and experience in raw material sourcing, marketing, personnel and know-how accumulated for over 40 years.

Second, CRG will proceed with its overseas expansion plan, taking advantage of Central Group’s business bases in Southest Asia, Asia and Europe. Asean will be the focal point of CRG’s overseas expansion p this year, starting with Vietnam where Central Group owns retail businesses, Big C and Robins, that stand ready to support CRG’s expansion.

Vietnam shows great potential with a population of about 90-100 million with high purchasing power. The modern trade and food industry in Vietnam remains smaller than Thailand’s but showing huge growth potential, marking an opportune time for business expansion in the country.

Third, CRG will develop a management system and staff with new DNA to support the expansion plan. In this regard, Central Kitchen will be developed for food cost and quality control. POS System will be improved for better service quality. Business Intelligence (BI) will be deployed to categorise and analyse CRG’s data, to serve its business at all levels. Staff will be groomed to share a new DNA, encouraging employees in the Thailand 4.0 era to be daring, decisive and ready to take risks as well as warmly embrace mistakes.

Piyapong Chitchumnong, CRG senior vice president for marketing, said CRG will adjust the food concepts of all 11 restaurant brands while maintaining the strengths including food quality, tastes, variety and excellent service, to faciliate growth in the food industry that sees more and more new players.

He added that CRG will also focus more on the food delivery service which shows a 12 to 15 per cent growth rate annually and being a trendy choice for the new generation.

Benjamin Gillbey, senior vice president, digital payment and labs for Asia Pacific at MasterCard, said that device-based payment, which encompasses payments with a range of devices such as wearables and those for the Internet of Things (IoT), was starting to see rapid growth around the world.

In some countries with a high uptake of technology, the portion of device-based payment is nearly 10 per cent of the whole payment system. The Asia-Pacific region is seeing fast growth, Gillbey said, driven by mobile payments,

“MasterCard is committed to bringing MasterCard contactless payments to consumer wearables and Internet of Things (IoT) devices,” he said.

“Also, MasterCard is committed to Thailand’s National e-Payment Plan. In 2017, the company supported the launch of the Thai standardised QR code as an interoperable standard in collaboration with the Bank of Thailand. In the same year, MasterCard also introduced PromptCard Debit MasterCard, a co-badged debit card with National ITMX.”

He said MasterCard foresees a more urbanised world as the proportion of people living in cities is forecast to jump from 54 per cent to close to 70 per cent over the next generation.

“Meanwhile, according to a study by MasterCard, about 65 per cent of all urban transportation is still in cash, which creates inconvenience and congestion for passengers and operational cost for transport providers,” Gillbey said.

“Therefore, MasterCard has demonstrated how the company is working with cities involved in Bangkok Fin Tech Fair, in areas such as transport, for people’s everyday payments, and for e-commerce.

“For transport, MasterCard enables contactless and single mode payments that are convenient for commuters and reduce costs for transport providers.”

Gillbey cited the case in London, where Transport for London has reduced the costs associated with ticketing from 12 per cent to 6 per cent of total revenue after three years of implementation of contactless payments in the British capital’s transport systems.

“MasterCard’s global transit strategy supports a range of solutions that can be tailored to the needs of local transit systems and offers the benefits of using MasterCard’s network for speed and security,” he said.

Donald Ong, country manager for Thailand and Myanmar at MasterCard, said that cashless payments have grown rapidly. The use of contactless credit cards, digital wallets, wearable technology and biometric authentication is becoming commonplace, embedded into people daily lives.

“The Thailand 4.0 Initiative and many initiatives under the National e-Payment Master Plan, in particular, will lay the foundation for a digital economy and a cashless society as consumers, businesses and government agencies benefit from the greater convenience, safety and efficiency of electronic payments,” he said.

“Payment experiences are being redefined to provide greater convenience, seamlessness and security, helping to shape smarter and more inclusive societies.”

Coca-Cola in Thailand is launching a new version of Aquarius as a low-calorie beverage that contains eight fruit and vegetable extracts.

The new drink comes in a grapefruit flavour and aims to penetrate the replenish drink market segment by targeting young white collar office workers, who tend to lose water and minerals as they go about their daily activities both during working hours and while commuting to their office, even when they are not sweating. Aquarius helps restore and replenish anywhere and at any time of day, the company said.

Claudia Navarro, marketing director of Coca-Cola (Thailand) Ltd, said: “Since the launch of the Aquarius brand in Thailand in 2015, we have found that Thai consumers respond well to replenishing drinks, and are increasingly enthusiastic about maintaining good health and wellness. To meet this growing demand, the Coca-Cola system in Thailand, as the market leader for non-alcoholic beverages, has introduced the new Aquarius drink that contains eight fruit and vegetable extracts and comes in a refreshing grapefruit flavour.

“This savoury, easy-to-drink, and low-calorie beverage comes with the concept ‘ready to restore and replenish’ and we have in store various types of marketing communication activities to effectively reach target consumers and the broader Thai public.”

This latest Aquarius drink boasts a new look and is certified with the ‘healthier-choice nutritional logo’ by the Ministry of Public Health. The extracts come from lemon, orange, carrot, red beet, kiwi fruit, passion fruit, apple, and blood orange to help refresh the body, relieve it of fatigue and allow drinkers to get through their busy days.

“In terms of marketing, Aquarius focuses on penetrating the Thai replenish drink market, which has great growth potential thanks to the country’s hot climate and the active lifestyles of young workers,” the company said. “Marketing activities range from giving out free samples to engaging with target consumers via online activities. Another new flavour in the Aquarius line will be launched later this year.”

SIAM PIWAT CENTRES TEMPT SHOPPERS

Siam Paragon, Siam Center, and Siam Discovery have launched a summer sales campaign with rewards worth over Bt10 million until April 30.

The shopping malls have spent more than Bt30 million on the launch for “Summer Getaway”.

Jiraporn Srisa-an, senior deputy managing director, business promotion, Siam Piwat Co., Ltd, said that March-April is a period of high spending as there are many festivals and holidays for Thais.

“It’s also school holidays for students where families often find out activities outside the home,” Jiraporn said. “At the same time, there are many foreign tourists visiting Thailand during the Songkran Festival. Siam Paragon, Siam Center and Siam Discovery have thus launched the campaign to attract tourists and shoppers during the period. More than 500 shops within the three shopping centres have provided many rewards and privileges for shoppers from today until 30 April this year.

“The Summer Getaway campaign involves the cooperation of many shops and restaurants to to provide premium shopping experience and premium rewards for customers.

“The company expects the Summer Getaway campaign will be well received by customers. Sales revenue for stores and restaurants are expected to increase 10-15 per cent, and people will come to shop more at our shopping centres – at an average by 150,000 customers per day at Siam Paragon, and 120,000 per day at Siam Center and Siam Discovery.”

JINJETT WATTANASIN NAMED BRAND’S PRESENTER

Suntory has recruited “Jaonaay” Jinjett Wattanasin as a Brand’s Chicken Essence presenter for its new campaign “Brand’s Chicken Essence –the Secret to Success that Passes from Generation to Generation”, while investing Bt145 million on marketing activities to boost sales and growth. Brand’s Suntory has injected new blood into its organisation, setting up a management team led by Nanthana Khaopluem as general manager of Brand’s Suntory (Thailand) Co Ltd.

Nanthana has mapped out plans and identified strategies for every product under the Brand’s name, and has launched a campaign titled “Brand’s Chicken Essence – the Secret to Success that Passes from Generation to Generation”.

J Jetrin has teamed up with his son Jaonaay, who has been a success from a young age, to appear in the new ad campaign.

“They are part of the “real” Brand’s family since J Jetrin’s father, Professor Charoen Wattanasin, came on board as ambassador. The three men –representing three generations – have been outstanding in their own way, which reflects Brand’s intention to create the public perception that you can be a success if you know how to plan and put your heart into what you do,” the company said. Brand’s Suntory is injecting Bt145 million into the campaign to boost sales and continue to see growth.

Nanthana said marketing policies for each of the company’s products – Brand’s Chicken Essence, Brands Bird-Nest Drink, Brand’s Veta Prune Essence Concentrate, Brand’s Gen U Ginseng Nutritive Drink, Brand’s Essence of Mushroom, and Brand’s supplements in tablet and capsule form.

Apart from marketing, Nanthana oversees distribution. Brand’s Suntory has more than 1,000 salesmen serving major shops nationwide to ensure quality and fast service as well as create good relations with outlets in both modern trade and general trade. The company has two allies in logistics –Durbell Co Ltd and Sino-Pacific Trading (Thailand) Co Ltd – involved in distributing its products across the country, with trucks that cover more than 100,000 shops.