#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Family members of Ethiopian Boeing 737 Max crash victims oppose recertification of plane

CorporateSep 18. 2020

By The Washington Post · Ian Duncan · NATIONAL, BUSINESS, WORLD, TRANSPORTATION 
More than 2,000 family members of those killed when a Boeing 737 Max crashed in Ethiopia, filed formal opposition Thursday to technical fixes the Federal Aviation Administration has proposed for the plane, saying they still do not believe the aircraft will be safe.

“We believe that the FAA is more concerned with saving Boeing’s investment in the 737 MAX than it is on ensuring that the airplane is safe,” the family members wrote in response to a proposed FAA directive for operators of the plane.

The fixes focus on changes to a software system implicated in two crashes of the 737 Max that happened over at span of five months in 2018 and 2019. The system was designed to smooth the planes’ handling, but malfunctioned before the crashes, driving down the jets’ noses in a way the pilots were unable to overcome. A total of 346 people died in the two crashes and the Max fleet was grounded worldwide while Boeing developed a fix.

The relatives of people who died in the second crash, which happened shortly after the plane took off from Addis Ababa on March 10, 2019, wrote that updating the faulty software was insufficient.

“The FAA should reevaluate the airplane as a whole and only permit it to fly if the FAA is completely satisfied that the 737 MAX is not a danger,” they wrote.

The FAA did not immediately respond to a request for comment.

The families submitted their comments the day after the House Transportation Committee issued a scathing report on the development of the Max by Boeing, its oversight by the FAA and their response in the months between the two crashes.

House investigators concluded that the crashes were the result of a “horrific culmination of a series of faulty technical assumptions by Boeing’s engineers, a lack of transparency on the part of Boeing’s management, and grossly insufficient oversight by the FAA.” 

In their comments, the family members wrote that investigative findings showing missed opportunities to make the planes safer mean “the pain of our loss is compounded.” 

Boeing engineers and test pilots flagged concerns inside the company about how the software system worked, concluding in one case that if pilots didn’t respond to a malfunction within 10 seconds, the outcome would be catastrophic.

“Boeing engineers identified the exact defect that would later cause the two crashes but decided that it was not necessary to change the design to eliminate the system’s risks,” the family members wrote.

The families called for a more thorough review of Max, including by an independent panel of experts, and the release of more data to the public before the plane is cleared to fly again.

The FAA is proposing to require software changes developed by Boeing that would curb the system and that it rely on data from two sensors instead of one.

The family members argue the changes only paper over an underlying issue with the plane’s aerodynamics. The software was included to counter changes in jet’s handling compared to previous models of 737, caused by the placement of the Max’s new engines.

“The software updates and revised procedures are no more than a mitigation strategy, because they fail to address the root cause of the problem,” they wrote.

An organization representing more than 10,000 British pilots filed comments Wednesday, echoing some of the families concerns. The group said in particular that it would prefer for the software system to receive data from three sensors, an approach used by European manufacturer Airbus.

The public has until Monday to comment on the FAA’s proposal. The agency will then review the comments before issuing a final directive requiring operators of the jets to make the fixes, a key step toward ungrounding the fleet.

But it remains unclear exactly when the Max might be approved to fly again.

An international group of regulators and crews has been meeting at London’s Gatwick Airport this week to evaluate training changes for Max pilots, and their feedback will be incorporated into a second document that the FAA will give the public the opportunity to comment on.

The FAA has repeatedly said that it is not following a specific timeline but is focused on thoroughly reviewing the Max.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Thai e-vehicle mogul urges launch of Bt2tn energy fund

CorporateSep 18. 2020Somphote Ahunai, CEO of Energy Absolute 

By The Nation

The government was urged on Thursday to launch a nation-building energy fund worth Bt2 trillion to strengthen the new S-Curve sectors, existing industries and the grassroots economy.

Somphote Ahunai, CEO of Energy Absolute, told a seminar organised by the Institute of Business and Industrial Development that the fund could be established via gradual issuance of government bonds.

The bonds should carry a maturity length of 30 years and an interest rate of 3 per cent per annum, he added.

Of the total fund, Bt200 billion should be spent on supporting power producers, building power transmission lines and expanding the network of charging stations. It should also support electric vehicle (EV) producers and incentives for EV users.

Somphote said if all 20 million vehicles in Thailand switched to electric power, Thailand would save Bt100 billion per year in energy imports. The government could use this saving to pay the fund’s interest and principle to bondholders.

The remaining Bt1.8 trillion of the fund could be used to boost core industries and the grassroots economy, he added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

THAI repatriation flight lands with 75 onboard

CorporateSep 17. 2020

By The Nation

Thai Airways International (THAI) said on Thursday its latest repatriation flight landed on Wednesday, carrying home citizens who had been stranded by the Covid-19 pandemic.

Flight TG607 from Hong Kong touched down in Bangkok with 75 passengers aboard at 10.08pm on Wednesday. 

THAI’s fifth repatriation service from Hong Kong also carried cargo on both legs of the journey, the carrier said.

Staff from THAI, the Foreign Ministry and the Hong Kong consulate collaborated to organise the flight.

All arrivals in Thailand are subject to two weeks mandatory quarantine.

The quarantine requirement will remain in place when Thailand reopens to foreign tourists as early as next month.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Krungsri building EEC investment pipeline from Japan

CorporateSep 17. 2020Yoshiyuki Horio 

By The Nation

Krungsri (Bank of Ayudhya) is focusing on Japanese investment in the Eastern Economic Corridor as a key driver of its business growth over the next few years.

The bank on Thursday said its membership of the Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, gives it a competitive edge to promote new investment from Japan.

Said Yoshiyuki Horio, Krungsri head of Japanese Corporate and Multinational Banking (JPC/MNC):

“To enhance our leadership in the market, Krungsri JPC/MNC has set up business promotion initiatives via both assets and liabilities ends as well as promoting FX and derivative transaction opportunities, and trade and settlement transactions. While we continuously strengthen relationships with customers to be their main operating bank, we maximise the cross segment collaboration within Krungsri as well as leverage synergies with MUFG and other partner banks in the region focusing on operational excellence, data intelligence and professional skill enhancement.”

Krungsri JPC/MNC also underlined its measures to help businesses through the Covid-19 crisis, including additional credit facilities to support working capital and liquidity, providing market and industry outlook through web seminars, and creating new business opportunities for customers through business matching activities.

According to Thailand’s Board of Investment (BOI), the number of investment projects applying for BOI incentive and privileges in the first half of 2020 increased 7 per cent from the same period last year to 754 projects. Thailand is a major production base for Japanese investment, especially in the automotive industry. Japanese investors ranked No 1 in applying for BOI incentives in the first half of 2020.

“In supporting foreign investment in Thailand, we will focus on the Eastern Economic Corridor [EEC] project as a key growth driver for JPC/MNC Banking over the next few years,” Horio added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Goldman CEO shops his sprawling Aspen estate as rich flee cities

CorporateSep 17. 2020David Solomon, chief executive officer of Goldman Sachs, looks on during a Bloomberg Television interview on the sidelines of the Bloomberg New Economy Forum in Singapore, on Nov. 7, 2018. MUST CREDIT: Bloomberg photo by Giulia Marchi. 

By Bloomberg · Sridhar Natarajan · BUSINESS, US-GLOBAL-MARKETS 
David Solomon is taking another shot at unloading his expansive estate in the ski town of Aspen, Colorado, as wealthy Americans seek property away from urban areas.

The Goldman Sachs chief executive officer is seeking to sell the 83-acre spread, with an estimated value of about $25 million, and has been speaking with potential buyers over the summer, according to people familiar with the matter. The property boasts a 13,000-square-foot (1,200-square-meter) wood-and-stone mansion and panoramic views of the Aspen upper valley.

Solomon’s renewed attempts to sell the property come at a time when real estate nestled away from urban centers and their coronavirus risks are drawing increasing interest from fleeing city dwellers. The dollar value of single-family home sales in Aspen surged 440% in August from a year earlier, according to the Estin Report.

The 58-year-old CEO purchased the property, split across two lots, starting in 2005. Before Solomon, former senior Goldman Sachs banker Robert Hurst owned the estate, according to county filings.

Solomon, through a representative, declined to comment.

The Goldman CEO had previously listed the spread for $36 million in 2017, but failed to find buyers at that price.

Solomon is hoping to attract serious interest this time around amid rising demand for homes in less-densely populated areas. The National Association of Realtors said last month that picturesque Kingston, north of New York City, has the fastest-rising home prices in the U.S., and the Hamptons have seen a similar trend. Home sales in the resort town of Park City, Utah, doubled in July and August from a year earlier, according to the Salt Lake Tribune.

Solomon is the second-highest-paid CEO of a big bank after drawing a 20% pay jump at the start of the year. He’s known for his interests outside Goldman Sachs, including a controversial appearance as a DJ at a Hamptons concert earlier in the summer, and has stakes in high-end restaurants in New York City.

He was among business leaders last week who scolded Bill De Blasio, blaming the New York mayor for what they called “quality of life issues” that are keeping their workers from coming back to offices in the city.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

FedEx surges as e-commerce demand sends profit climbing

CorporateSep 17. 2020A pedestrian wearing a protective mask carries FedEx boxes in the Diamond District of New York on June 10, 2020. MUST CREDIT: Bloomberg photo by Nina Westervelt. 

By Syndication Washington Post, Bloomberg · Thomas Black · BUSINESS, US-GLOBAL-MARKETS 
FedEx Corp. surged as a wave of e-commerce demand bolstered pricing power and propelled earnings amid the coronavirus pandemic.

Sales at the ground-delivery unit jumped 36% to $7 billion and operating margins rose to 11.8%, the highest in a year, FedEx said in a statement Tuesday. That helped push the courier’s total earnings beyond Wall Street’s highest estimate in the fiscal quarter ending Aug. 31.

“Demand is so strong at this point that they’re emboldened to start taking price to a greater extent, which can be a very powerful driver of profitability,” said Matt Arnold, an analyst with Edward Jones.

FedEx is cashing in surcharges for big customers that are making home deliveries more profitable after years in which residential shipments weighed on margins. Like rival United Parcel Service Inc., which dazzled Wall Street with its results less than two months ago, FedEx is getting an early payoff on investments to boost efficiency and automation to handle demand spurred by the rise of online shopping.

“Our earnings growth underscores the importance of our business initiatives and investments over the last several years,” FedEx Chief Executive Officer Fred Smith said on a conference call with analysts. “In many ways, the world has accelerated to meet our strategies.”

FedEx surged 9.2% to $258.40 before the start of regular trading Wednesday in New York, on track toward the highest close since June 2018. The stock had gained 57% this year through Tuesday, outpacing UPS’s 38% advance and a 5.3% increase in the S&P 500.

An additional surcharge of 30 cents a package for large Ground customers is helping FedEx offset the extra costs of operating during the pandemic. Higher pricing pushed package yields to an increase of 2.2%, reversing declines in the previous three quarters.

At the Express air-cargo unit, revenue rose 7.8% to $9.65 billion. Operating margins more than doubled to 7.4% from a year earlier, showing more signs of pricing strength. FedEx is benefiting from the steep decline in passenger flights, which often carry cargo at lower rates.

The gains helped FedEx make up for revenue it lost after parting ways with Amazon.com Inc. FedEx’s total sales rose 13% to $19.3 billion. Analysts had expected $17.55 billion.

Adjusted operating profit margins climbed 2.4 percentage points from a year earlier to 8.5%, That helped lift adjusted earnings to $4.87 a share, topping the highest estimate compiled by Bloomberg. Analysts had predicted $2.69.

During the quarter, the company was helped by lower fuel costs, a $65 million reduction in aviation excise taxes under the U.S. Cares Act and an extra operating day that added $130 million of revenue. Coronavirus-related expenses cost the company an extra $100 million in the quarter, said FedEx Chief Financial Officer Alan Graf.

The courier expects higher revenue and operating income at its Ground and Express units for the remainder of fiscal year 2021, which concludes at the end of May, said Graf, speaking on his last earnings call before retiring. He will be replaced by Mike Lenz on Sept. 22.

FedEx already is preparing for the rollout of a potential coronavirus vaccine. The company has 90 “cold-chain” facilities worldwide for speedy distribution if and when a vaccine is ready, said Chief Operating Officer Raj Subramaniam.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Delta to borrow $9 billion in largest airline debt deal ever

CorporateSep 17. 2020Delta Air Lines Inc. aircraft sit parked at a field in Victorville, Calif., on March 23, 2020. MUST CREDIT: Bloomberg photo by Patrick T. Fallon. 

By Syndication Washington Post, Bloomberg · Paula Seligson · BUSINESS, TRANSPORTATION, US-GLOBAL-MARKETS 
Delta Air Lines is raising $9 billion in the largest debt deal ever in the aviation industry, as the carrier garners massive investor support to make its way through the pandemic.

That’s up from an original $6.5 billion, which was comprised of $4 billion of bonds and $2.5 billion of loans. Both will be backed by Delta’s frequent-flier program, a popular collateral pledge inspired by United Airlines Holdings Inc.

The debt will help boost Delta’s liquidity as it burns about $750 million in cash a month, and passenger volumes are only 30% of what they were this time last year, according to a memo by Chief Executive Officer Ed Bastian on Tuesday. With the new financing, Delta doesn’t intend to take an additional loan backed by the U.S. government under the CARES Act.

Delta is looking to borrow bonds maturing in five years that may yield around 4.75%, and another portion due in eight years that is being marketed near 5%, according to a person with knowledge of the matter. They carry investment-grade ratings and are expected to price Wednesday, the person said, who asked not to be identified as the details are private.

Goldman Sachs is lead manager on the bond sale, while Barclays Plc s leading the loan component. Those commitments are due Wednesday.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

GET officially transforms into Gojek today

CorporateSep 16. 2020Pinya Nittayakasetwat, Country General Manager, Gojek Thailand 

By The Nation

Gojek, Southeast Asia’s leading mobile on-demand services and payments platform, officially launched its app in Thailand from 6am on Wednesday (September 16).

Now customers in Thailand can order food via GoFood, hail motorbikes via GoRide, send parcels via GoSend and make digital payments via GoPay. The app is available for download via iOS and Android systems.

The move follows GET app’s recent announcement that it was rebranding as Gojek as part of its long-term strategy.

GoViet, the company’s operation in Vietnam, was also relaunched as Gojek on August 5.

Gojek’s co-CEOs Kevin Aluwi and Andre Soelistyo, said: “Today marks a significant moment in Gojek’s journey, and in our long-term commitment to Thailand. We’re grateful to our incredible Thai team, headed by Pinya [Nittayakasetwat], who will lead us into this new chapter and for the many customers, partners and other valued stakeholders in Thailand who have supported us along the way.”

Pinya, who holds the post of country general manager for Gojek Thailand, said the company is delivering three new super apps – Gojek for consumers, GoPartner for drivers and GoBiz for merchants.

“We appreciate all who have continued to place their trust and support in us since the early days as GET. Joining us on this first day as Gojek are more than 50,000 driver partners and 30,000 merchant partners, as well as strategic partners like Siam Commercial Bank, The Mall Group and many more.”

Gojek is also introducing “GoFood Pickup”, which allows users to order in advance and pick up food from restaurants without having to wait. GoFood Pickup is in a pilot phase with more than 500 participating outlets in central Bangkok.

The Gojek app can be used in all countries where Gojek operates, including Vietnam, Indonesia, Singapore and Thailand.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Sudden decision to change criteria for MRT bid infuriates BTS

CorporateSep 16. 2020

By THE NATION

The Bangkok Mass Transit System (BTS) is threatening to go to court after Mass Rapid Transit Authority (MRTA) changed its evaluation criteria for bids on the MRT Orange Line.

Surapong Laoha-Unya, chief executive officer of BTS, one of the bidders for the MRT Orange Line which runs from Bang Khun Non to Min Buri, said MRTA’s recent decision to change the bidding criteria is unfair because the change was announced after bidding papers were sold to bidders.

MRTA decided that instead of basing 100 per cent of the evaluation on bidders’ technical proposal, it would base 30 per cent of the evaluation on technical proposal and 70 per cent on the price proposed.

So far, 10 companies have bought bidding envelopes for this Bt142.7 billion project, namely Bangkok Expressway and Metro, Bangkok Mass Transit System, BTS Group Holdings, Sino-Thai Engineering and Construction, Italian-Thai Development, Ratch Group, Ch Karnchang, Gulf Energy Development, Sinohydro Corporation and Woranitath Development.

The project comprises the construction of a 13.4-kilometre track from Thailand Cultural Centre to Bang Khun Non stations as well as the installation and operation of a train system for the 35.9km from Min Buri to Bang Khun Non.

“We have filed an appeal with the State Enterprise Policy Office and MRTA board of directors to demand justice, as nothing like this happened in the past,” he said. “We are also thinking of taking this to court, but if in the end, the authorities say this change in criteria is within the law, then BTS will enter the bidding.”

Surapong also said the company is waiting for the Cabinet to approve the extension of its concession for the newly extended Green Line.

“Once the contract is signed, BTS will start adjusting the fare structure to a maximum of Bt65 for the line, while its extension from Lat Phrao to Khu Khot should be open to public within December,” he added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Top Thai energy producers sign pact to develop power plant in Vietnam

CorporateSep 16. 2020From left: Egco Group’s president Thepparat Theppitak, acting president of Egat International Santichai Osotpavapusit and Ratch Group’s chief executive officer Kijja Sripatthangkura pose after signing the joint development pact. 

By The Nation

Egco Group, Egat International and Ratch Group signed a joint development agreement on Wednesday (September 16) to develop the Quang Tri 1 thermal power plant in Vietnam.

Santichai Osotpavapusit, Egat International’s senior executive vice president, said: “The thermal power project is fully supported by both Thai and Vietnamese governments, as well as Egat.”

The Quang Tri 1 plant is located in Quang Tri province’s Hai Lang district. Egat International will hold a 40 per cent stake in it, while the remaining 60 per cent will be equally divided between Egco Group and Ratch Group.

With an installed capacity of 1,320 megawatts, the project is expected to go into commercial operation by 2025.

The generated electricity will be sold to Vietnam under a long-term power purchase agreement.