Tag Archives: Corporate

Myanmar consumers trust quality of Thai products, survey finds

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http://www.nationmultimedia.com/business/Myanmar-consumers-trust-quality-of-Thai-products-s-30291995.html

SURVEY

THE NATION August 3, 2016 1:00 am

SANTIPHONG Pimolsaengsuriya, chief executive officer of Havas Riverorchid, a marketing communication specialist in the CLMV markets (Cambodia, Laos, Myanmar and Vietnam), said Myanmar’s potential was clear from a survey the group did in May.

It involved 504 respondents in Myanmar, who rated their trust in products made locally and from major exporters including Thailand, Singapore, China, Japan, the United States, South Korea, Europe, Australia and New Zealand.

The study showed Myanmar consumers’ trust in the quality of Thai products was the same as for products from Japan and Singapore. In terms of trust in the image, Thai products were rated as high as those from Japan.

“Given the above-mentioned advantage of Thai products in Myanmar, we suggest that leading Thai brands enter the market when they are ready,” Santiphong said.

“Makers of products without brand names or brands that are not yet well known, including producers who make merchandise for branded products, can also expand their business in Myanmar. However, despite the competitive advantage, all producers need to build their brands consistently, together with carrying out marketing activities.” He said social values also had a great influence on consumer behaviour in Myanmar. This was underscored in a study Havas Riverorchid conducted last year titled “Ten Consumer Megatrends in Myanmar”.

One notable example is the “fear fatigue” that has accompanied the rapid opening up of the country to the outside world. The rapid influx of new things naturally makes people suspicious and even a bit fearful. Consequently, it is important for entrepreneurs to make an extra effort to gain consumers’ trust in products and services that are new to them.

An effective approach is helping consumers to understand their problems, and clearly demonstrate how the company’s products or services can respond to such problems.

Bangkok coffee shops ‘have room for improvement’

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http://www.nationmultimedia.com/business/Bangkok-coffee-shops-have-room-for-improvement-30291989.html

SURVEY

THE NATION August 3, 2016 1:00 am

GOING TO A coffee shop has become a new trend in Bangkok, but finding a good one can be a challenge, and it is even harder to please every coffee lover. A survey by International Service Check looked for the best places to take a break.

The average score across all coffee shops in Bangkok was not impressive, and almost half had only a few customers inside. Many customers said most coffee shops failed to deliver despite their good design.

Moreover, their positive feeling dampened when they entered the shop, as the survey reveals that only 10 per cent of customers were satisfied with the service.

Overall, the area where most coffee shops in Bangkok are rated highly is speed and accuracy. Consumers were pleased that there beverages were served within an average of 5.5 minutes in exactly the type and size they ordered.

In contrast, the worst rating was for “loyalty building”. It appears many brands in Thailand have difficulty keeping loyal customers.

Fewer than one-third of the coffee shops tested had a loyalty programme that was actively promoted. Of those that do run loyalty programmes, only one out of five actively encourages customers to take advantage of promotions.

The farewell was also not the coffee shops’ strength.

More than 75 per cent of customers were not said goodbye to in what they felt was an appropriate manner, and some were not said goodbye to at all.

Aeon Orange Co takes 14 Hypermarts in Myanmar

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http://www.nationmultimedia.com/business/Aeon-Orange-Co-takes-14-Hypermarts-in-Myanmar-30291982.html

INVESTMENT

THE NATION August 3, 2016 1:00 am

AEON ORANGE CO, a joint venture between Aeon Co and Creation Myanmar Group of Companies, has acquired assets including 14 supermarkets operated by Hypermart Asia Co, an affiliate of CMGC, and started operating in Myanmar on Monday.

Aeon Orange Co was established in April. It is preparing to open its first supermarket in Myanmar this year.

With the economic liberalisation following the transition to civilian government, the modernisation of Myanmar’s retail industry has proceeded, while the middle-class population has been on the increase, the company says.

With a population of 53 million, the real economic growth rate in the country is 8.3 per cent, exceeding the average growth rate among five developed nations in Asean, while further growth is expected to accompany the country’s integration within the region. Myanmar continues to grow quickly.

CMGC operates 14 supermarkets, mainly in Yangon, the largest city in the country, and it has licences to sell more than 20 foreign brands including Adidas and Mango, operating about 130 speciality stores and real-estate businesses as well.

In the supermarket business, focusing on community-based management, CMGC has strengths such as merchandise procurement capability inside and outside the country, according to a press release by the company. It says it meets the needs of the region for processed and non-food products as well as know-how in developing stores of various sizes depending on the regional characteristics, from central city to suburb.

Aeon promotes a group-wide growth strategy under the shift to Asian markets in Asean and China.

In Myanmar, Aeon Microfinance (Myanmar) Co, established in 2012, began developing a consumer-finance business in 2013 as the first Japanese company to do so. In 2014, Aeon established a representative office in Myanmar, and has conducted research on developing retail business in the country.

To develop business in a speedy manner in this fast-growing market, Aeon says it believes that cooperation with CMGC is indispensable, as it has the retail-business infrastructure in the country and is also familiar with customer needs that differ from region to region.

‘Winning strategy’ did not work out in the end for CTH

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http://www.nationmultimedia.com/business/Winning-strategy-did-not-work-out-in-the-end-for-C-30291915.html

ANALYSIS

WATCHIRANONT THONGTEP
THE NATION August 2, 2016 1:00 am

ALTHOUGH CTH blames the fragile economy for forcing it out of business, the truth is that the story of the country’s second-biggest pay-TV operator’s rise and fall offers another bitter lesson about a winner’s curse.

Back in late 2012, Cable Thai Holdings, led by veteran Thai investor Wichai Thongtaeng, hit the headlines as a “dark horse” in the race to bag the broadcasting rights to the English Premier League for three seasons from 2013-14 in Thailand, Laos and Cambodia, leaving market leader TrueVisions confused over customer retention and revamping its marketing strategy.

CTH reportedly had to invest heavily, to the tune of Bt10 billion, to secure the top-tier soccer matches for three years.

It set a lofty goal of acquiring more than 7 million subscribers by offering affordable packages to lure mainly mass consumers.

However, its subscriber base now is 3 million, far behind its original target.

In terms of financial performance over the last two years, the 10 companies operating under CTH’s umbrella piled up debt of more than Bt24 billion and generated a loss of more than Bt6.6 billion, according to the Business Development Department of the Commerce Ministry.

Those companies are CTH Thonburi, CTH Internet, CTH Cable TV, CTH LCO, CTH Content, CTH Member, CTH Hardware, CTH G-Marketing, CTH International and CTH Plc.

Besides the massive investment, CTH encountered a rash of internal problems between its management and other shareholders such as local cable-TV operators.

From the beginning, management wanted to install a single billing system in return for those cable-TV operators’ support for a new advanced fibre-optic cable infrastructure, but they opposed this attempt.

This issue prevented CTH, led by its first chief executive officer Krissana Ngampatipong, from expanding its subscriber base via the local cable-TV operators as planned in the first year.

It then decided to expand its distribution via satellite along with the cable platform.

To make its service more attractive to a wider audience besides these soccer games, the company also invested more in securing entertainment programmes from international media powerhouses such as Fox International Channels and Hong Kong-based Celestial Tiger.

It seemed to be a huge challenge to monetise this entertainment and sports content, given the operating costs and investment in new equipment. This resulted in more than Bt24.12 billion in combined debt last year.

Meanwhile, the cable and satellite TV industry was hit hard by the change in the national broadcasting policy in 2014.

New media landscape

The National Broadcasting and Telecommunications Com-mission was steering the national backbone from satellite-based to terrestrial-based free TV broadcasting through the auction of 24 commercial digital TV licences.

Under this licence-based regime, cable and satellite TV operators were classified as pay-TV operators with commercials limited to six minutes per hour, while national terrestrial free-TV channels were allowed to air up to 12 minutes of commercials per hour.

After this change, local audiences started migrating to free TV channels, which also became the new rivals for pay-TV operators like TrueVisions and CTH.

Although CTH changed its leadership to Chirdsak Kukia-tinun as executive chairman in its second year and shifted its focus to sharing its acquired content with other satellite-TV platforms such as GMM Z, Sunbox and PSI Holdings, Internet protocol TV service providers and some free TV channels, this strategy did not improve the company’s revenue.

To manage the costs of satellite transponders, the company decided to discontinue its pay-TV service in PSI Holdings, Sunbox and GMM Z before the latest disclosure to pull the plug on its operations effective on Monday.

Two Italian firms mull Thai production base

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http://www.nationmultimedia.com/business/Two-Italian-firms-mull-Thai-production-base-30291910.html

SUCHAT SRITAMA
THE NATION August 2, 2016 1:00 am

ITALIAN CHOCOLATE maker Ferraro and agriculture truckmaker New Holland are considering opening production bases in Thailand following the formation last year of the Italian-Thai Business Forum.

Central Group plans to open the 12th Italian branch of its La Rinascente department store in Rome next year.

Isara Vongkusolkit, chairman of the Thai Chamber of Commerce, said yesterday that the 13 members of the new forum were leading companies from Italy such as Ducati, Italcementi, Ferraro and Pirelli and 17 companies from Thailand such as Thai Airways International, Bangkok Bank, Siam Cement, Charoen Pokphand, Central and Dusit International.

The forum invited these leading companies to become members to help drive the economy.

“The new joint-forum will encourage more investment in both countries, from Italy to Thailand like automobiles, food, furniture and industrial design, and from Thailand to Italy like hotels, retail, food and tourism,” he said.

To encourage investment here, the forum and chamber will provide training and exchange information with Italian companies.

The forum would be the new channel for Thai entrepreneurs to enter the Europe Union for further investment, he added.

Busaba Chirathivat, senior vice president of Central Retail and co-chairwoman of the forum, said the forum would help operators or members in Thailand find partners in Italy more easily than working with government bodies because executives and companies feel comfortable discussing and working together.

They will have more chances to exchange information and join in business endeavours.

“Thailand can be a new place for investment from Italy such as rubber and energy. Thailand also can offer good tourism destinations for Italian tourists.

“Moreover, Thailand still has more room for Italy’s helicopter business,” she said.

Central Group would also benefit from the forum as it can help sell more food to overseas markets besides through its 11 La Rinascente shopping malls in Italy.

Isara said the Thai economy in the first half of this year dropped by 2 per cent due to low consumption but expects the economy to pick up in the second half. The global economy may cause European companies to consider halting investment in Thailand.

“After all, I expected the Thai economy will grew by 3-3.5 per cent this year,” he said

Italian Ambassador Francesco Saverio Nisio said Thais and Italians could strengthen cooperation as many Italian have been investing in Thailand while some leading Thai companies like Central Group have already invested in Italy.

“I’m confident in Thailand, judging from the number of Thai tourists to Italy doubling over years while Thailand remains a popular destination for Italian tourists as well as other sectors like cars, motorbikes, medicine and insurance,” he said.

He said 66 projects from Italy have invested in Thailand.

However, some Italian companies still lack knowledge about Thailand’s business environment and economy so the new body would help boost investment in both directions.

“A few months ago, two more Thai companies joined the forum. The next meeting in Italy next year is expected to have more Italian companies,” he said.

Lessons on doing business in Asean

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http://www.nationmultimedia.com/business/Lessons-on-doing-business-in-Asean-30291908.html

SIRIVISH TOOMGUM
THE NATION August 2, 2016 1:00 am

EXECUTIVES of major Thai companies with a presence in other Asean countries yesterday shared their views and the lessons they have learned from doing business in the region.

Banpu director Chanin Vongkusolkit said companies must carefully study the investment rules ofAsean countries.

If possible, they should seek collaboration with big Thai companies in the markets they want to operate in, he said. They should also seek ways to contribute to the communities they will locate to.

Chanin made these observations at a “Thailand Overseas Investment Forum” co-hosted by the Board of Investment (BOI) and consulting firm Bolliger & Company (Thailand).

Indonesia is the main overseas revenue contributor to Banpu.

Roongchat Boonyarat, executive director of juice and canned-fruit producer Malee Group, said picking the right partner was one key to success.

She said that when selecting a foreign business partner, a company must find out a lot about it first, such as its ethics and its ways of doing businesses. Malee puts great weight on these factors when considering a partnership.

She added that companies should not set up businesses overseas for the sole purpose of saving export costs to those markets.

They might find later that the raw materials in those countries are costlier than in Thailand.

Malee made its first move into the Asean market last year by establishing a joint venture with Monde Nissin Corporation of the Philippines to offer its product lines to Filipino consumers.

Malee has been responsible for product development and manufacturing, which are its key strengths, while Monde Nissin has handled marketing, sales, distribution and logistics in the Philippines.

Roongchat said many Filipinos were open-minded about trying foreign products.

Sompop Mongkolpitaksuk, chief operating officer of Charoen Pokphand Foods, said Myanmar, Cambodia, Laos and the Philippines were the rising-star markets, thanks to their rising purchasing power.

Myanmar, Cambodia and Laos still need investment to upgrade their production of agricultural products to cater to rising demand for local consumers and for export.

If Thai companies are ready to enter this agricultural business arena, they should do so now. If they are too late, they will lose the opportunity to Chinese companies, Sompop warned.

Before entering those three countries, companies should make sure they have their own innovations and technologies to ensure their cost competitiveness, and ensure they have management with the skills to grow their businesses there.

Meanwhile, the BOI plans to open offices in Yangon and Hanoi next year and one in Jakarta in 2018.

Minor plans major expansion

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http://www.nationmultimedia.com/business/Minor-plans-major-expansion-30291828.html

INVESTMENT

KWANCHAI RUNGFAPAISARN
THE NATION August 1, 2016 1:00 am

MINOR FOOD GROUP plans to invest Bt900 million to add 150 stores to its BreadTalk bakery chain within five years.

“We expect sales of BreadTalk to reach Bt500 million this year, up 50 per cent over last year. In five years, the company expects annual sales of the brand to reach Bt3.6 billion,” Choompot Tantisoonthorn, chief operating officer of cold chain, said last week.

Minor, one of the country’s largest restaurant operators, will open about 30 BreadTalk outlets every year over the period. The expansion would use two models – company-owned and franchised – in a ratio of 60:40.

Minor formed a joint venture in September 2014 with the BreadTalk group from Singapore to expand the bakery house business in Thailand and has no plan to take the brand to other markets in the region.

The company’s restaurant portfolio comprises of many well-known, mostly international brands – The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, The Coffee Club and Thai Express.

“The bakery business is now expanding and has a positive outlook in Thailand due to the changing lifestyle of consumers, particularly youngsters, adults and families. These target segments are more likely to enjoy baked items as a dessert or as a gift for some special occasion,” he said.

Dr Grorge Quek and his wife launched BreadTalk in 2000 with a small shop at Bugis Junction in Singapore. Now, the company runs several food businesses such as leading food courts in many countries in Asia and the Middle East, and other restaurants with more than 1,000 branches in 16 countries.

Thailand counts 28 BreadTalks in Siam Paragon, CentralWorld, CentralPlaza Rama 2, The Mall Bangkapi, CentralPlaza Ladprao, Terminal 21, CentralPlaza Rama 9, The Mall Bangkae, Esplanade Ratchada, CentralPlaza Rama 3, Fashion Island, Mega Bangna, Gateway Ekkamai, The Mall Thapra, Silom Complex, Future Park Rangsit, Seacon Square Srinakarin, Central Westgate, CentralPlaza Pinklao, Riverside Plaza, The Street Ratchada, Central East Ville, Don MueangInternational Airport, The Mall Ngamwongwan, CentralPlaza Rattanathibet, The Promenade and Tesco Lotus Srinakarin.

BreadTalk’s marketing direction is to expand in the provinces, especially in tourist destinations, to meet the increasing demand for baked items and cakes. Although this market is highly competitive, BreadTalk remains the leader thanks to its superior taste, innovation, quality and variety, with more than 100 bakery items.

With the “open kitchen” concept, customers can see the dedicated baking process for each and every piece that is freshly served out of the oven, he added.

Banyat Athiyutkul, general manager of BTM (Thailand), also known as “BreadTalk”, said that to celebrate Mother’s Day on August 12, BreadTalk will host the “Bake for Mom” campaign to express appreciation and gratitude to mothers with specially designed cakes and bakery items. BreadTalk will donate Bt12 from each cake and baked item sold until this month to Her Royal Highness Princess Maha Chakri Sirindhorn Foundation for Chitralada School.

TOT to end Thaicom bandwidth lease deal

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http://www.nationmultimedia.com/business/TOT-to-end-Thaicom-bandwidth-lease-deal-30291819.html

TELECOM DEAL

USANEE MONGKOLPORN
THE NATION August 1, 2016 1:00 am

THE BOARD of TOT has asked the state telecom agency to terminate the contract to lease bandwidth from Thaicom’s iPSTAR broadband satellite in a bid to cut operating costs.

TOT has already informed Thailand’s sole satellite operator about the decision.

A Thaicom source said the company was prepared to deal with the TOT cancellation.

The TOT contract termination is expected to take effect next year, as under the contract TOT is obliged to give a year’s notice for any termination of the contract.

TOT leased the iPSTAR bandwidth to provide satellite broadband service in the local market on an exclusive basis for the period 2005 to 2012 and renewed the contract for another eight years until 2021.

However, the service has experienced tough competition from fibre optic broadband service operators and wireless broadband service operators, who have continued to rapidly expand network coverage nationwide.

TOT’s iPSTAR service mainly tapped local administrative organisations, but many of them have gradually stopped extending their contracts with TOT.

Providing iPSTAR bandwidth to customers has resulted in annual operating expenses of Bt680 million for TOT while revenue is only Bt400 million to Bt500 million.

TOT’s revenue slid to Bt47.898 billion in 2015 from Bt63.199 billion in 2014 and Bt87.132 billion in 2013. It suffered a loss of Bt5.686 billion in 2015, compared to a profit of Bt1.947 billion in 2014, and Bt4.413 billion in 2013.

The Thaicom source said that after the TOT contract termination, Thaicom would market the iPSTAR broadband service in Thailand on its own and mainly tap state agencies and educational institutions.

Thaicom will seek more foreign broadcaster as customers to offset the possible declining number of local broadcaster customers.

Thaicom’s share price last Friday closed at Bt22.10, unchanged from the day before.

Hotel group Evergreen aims to tap tourist surge

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http://www.nationmultimedia.com/business/Hotel-group-Evergreen-aims-to-tap-tourist-surge-30291817.html

HOSPITALITY

SUCHAT SRITAMA
THE NATION August 1, 2016 1:00 am
A perspective of Ari Hills, one of the mixed-use projects being developed by Evergreen Place Group. The project is scheduled to be completed in the first quarter of 2018, and will consist of office spaces, retail shops, and a hotel.

A perspective of Ari Hills, one of the mixed-use projects being developed by Evergreen Place Group. The project is scheduled to be completed in the first quarter of 2018, and will consist of office spaces, retail shops, and a hotel.

EVERGREEN PLACE CO, a local hotel-chain operator, is developing more hotels and residences in Bangkok to cash in on the growing tourism industry.

Over the past seven years, the company has developed or renovated four hotels and one office building in Bangkok with a total investment of more than Bt400 million. The first property that became a full hotel operation was Evergreen Place in the Ratchathewi area.

The company currently is developing two more mixed-use projects – Ari Hills and Ladprao Hills – at a combined cost of Bt1.8 billion, making the group’s overall investment Bt2.2 billion since 2010.

Managing director Wutthiphon Taworntawat said Ari Hills would be a mixed-use project on Phaholyothin Road and will consist of office spaces, retail shops and 200 hotel rooms.

It will be the group’s highest investment at Bt1.3 billion.

“This project is a joint venture with a local landlord. It is scheduled to be completed within the |first quarter of 2018,” Wutthiphon said.

He added that the second mixed-use project called Ladprao Hills would also consist of office spaces, retail shops, and 200 hotel rooms.

The project, with an investment of Bt500 million, is set to open in the first quarter of 2018. This will be a renovated hotel on a 30-year rental contract.

Serviced apartments at Asoke

Wutthiphon said that after the company turned Evergreen Place into a hotel, it began to develop, a year later, a service apartment called Asoke Residence with 55 rooms on a rented plot of land.

In 2012, it renovated its own existing building used for Leamthong Securities to a modern office and renamed it L Building. The group later moved to develop another of its small hotels, “Alt”, in the Nana area, to serve expatriate guests, as well as tourists.

In December last year, it opened The Residence Thong Lor at a refurbishment cost of Bt250 million.

The 78 room block was done with a 30-year rental deal.

He said company is in talks with investors at some major tourist destinations, including Pattaya, for further developments.

“The group has been expanding into hotels and residences rapidly to serve market demand in different locations.

“The growing tourism sector is a major factor for our investment. Although we are a local chain, our strength is we employ general managers who used to work with five-star hotels and have group housekeeper managers to supervise service operations,” he said.

Aside from the hotel business led by Wutthiphon, other family members are running Times Square, the office building located on Sukhumvit, and L Building in the Ratchathewi area.

Banpu accelerates social enterprise growth

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http://www.nationmultimedia.com/business/Banpu-accelerates-social-enterprise-growth-30291458.html

CSR

The Nation July 31, 2016 1:00 am

Banpu has spent more than six years incubating social enterprises under the “Banpu Champions for Change” programme.

As a leading Asian energy company, Banpu says it has worked towards social sustainability, and organised “Banpu Champions for Change: Keep on Growing”, a special event that provides business-pitching opportunities for Banpu Champions for Change alumni members. The alumni are able to present their business progress and acquire additional support as well as expert counselling to improve their social enterprises.

Five social enterprises were selected.

A-Chieve Social Enterprise Ltd is an agency created to educate students on career opportunities through its website, career camps and workshops to help students plan relevant career paths effectively.

Local Alike Ltd is a responsible tour operator that focuses on community-based tourism, which allows local residents to be involved while emphasising community development funded through generated revenue.

Nokhook Group Co is an alternative marketing channel that works by matching agricultural outputs from organic farmers directly with customers following fair trade principles. The enterprise also provides farmers with support on product development and short-term working capital.

Ma:D is a co-working community for social entrepreneurs where they can network, learn from others, exchange ideas, inspire one another, and have an impact on society.

Toolmorrow by Surasek Ltd is an online TV programme that presents teenagers’ false beliefs through various social experiments and video packed with fun and thought-provoking content aimed at building positive morals and ethics among teens.

“The key to building a successful social enterprise is reaching out to someone who knows how to help, someone who can identify or fill in the gap that may be impeding enterprise success,” said Chanin Vongkusolkit, chairman of the board of Banpu. “With our network, Banpu is more than happy to be a gateway to help connect social entrepreneurs with experts.

“We hope that the social enterprises will eventually grow to a stage where they are scalable and replicable to bring about the positive change and impact for our community, our society and our country.”