“From January to October, we had more than 120 million bookings from our taxi, messenger and food delivery services, which is roughly 12 times higher than that of our competitors,” he said. “By year end we expect the usage to soar even further as foreign tourists will have a high demand for taxi services during the high season.”

Tarin further explained that Grab Food, the company’s mobile platform for food delivery service, saw the largest expansion this year. “We have partnered with restaurants and food franchise operators nationwide and we hold promotional campaigns every month,” he said. “The number of our partners has climbed from 200 brands in May to 400 brands in November, while the latest “Grab 11.11” campaign offers more than 10,000 discount deals to customers.”

Currently Grab Food is offering services in 20 cities of 14 provinces. “Next year we plan to expand to 30 provinces,” he said. “Statistics from the Kantar World research institute revealed that Grab Food is Thailand’s number 1 food delivery app with 54 per cent of customers registered, while our competitors have only 21 per cent.”

As for 2020 business plan, Tarin said that the company will still focus on food delivery as the market has room for expansion. “A slowing economy is actually beneficial to our business because people see that ordering food via mobile app is cheaper than going out to the restaurants as transportation and fuel costs continue to get higher,” he said.

Responding to the recent protest by partner delivery drivers regarding wage cuts, Tarin said that Grab needed to adjust the wages periodically in accordance with consumer behaviors and economic status. “However, we insist that the goal of these adjustments is to maintain a sustainable relationship with all partners, and that Grab’s wage is still higher than that of our competitors.

Related Story: Grab introduces the first GrabKitchen to Bangkok

It is the second company picking up the documents after King Power Duty Free.

Today (November 8) is the last day AOT will sell the tender documents.

Bidders must submit the documents on December 11 and the winner will be announced on December 16.

Meanwhile, AOT will submit a draft of the terms of reference of the bid for operating pick-up counter service at Suvarnabhumi and Don Mueang airports to its revenue board on November 15.

If approved, the process will begin this month.

The hub will add value to its existing bio-business, he said.

The bio-hub is expected to focus on the production of food, bio-materials and bio-cosmetics. Commercial production is expected to begin in the next three years.

Previously, the company had planned to set up the hub in the Eastern Economic Corridor (EEC) in order to enjoy tax privileges. However, as investment in a bio-hub qualifies for tax privileges, the management thought it better to establish the hub close to the source of raw materials.

He added that the government should also take steps to boost consumer demand for bioproducts, if the government wants to successfully promote its bio-hub investment policy.

Bangchak’s subsidiary BBGI will invest in the proposed bio-hub. The subsidiary is expected to be able to list on the Stock Exchange of Thailand late next year.

The listing will be postponed to 2021 if the stock market situation is unfavourable. The proceeds from the listing will be used to finance the creation of the bio-hub and expand the capacity of its biodiesel plant. This will serve the government’s promotion of B10 biodiesel for vehicles.

Many as the company’s 56 finalists made the cut at Thailand’s biggest advertising-award event with their creations for brands such as Homepro, Vitamilk, Netflix, Prudential, Air Asia, JD Central and Bakamol.

The final tally for BBDO was five Gold awards, seven Silver and 22 Bronze.

The winning campaigns in digital category showcased BBDO’s determination in going beyond the implementation of digital technology, creating experience through “native digital communication”.

“We cover all platforms, from traditional ones like TV, out-of-home and print media to digital, eCommerce, social media, production design and innovation,” said BBDO creative chairman Suthisak Sucharittanonta. “Our strength, however, continues to be our ground-breaking ideas that defy the norm of the industry – all while wanting to push forward the most effective communication.”

Chief executive Somkiat Larptanunchaiwong said BBDO also focuses on “precision creativity to help us hit right to the heart and mind of consumers and create the most effective outcomes for our clients”.

The Adman Awards & Symposium, held annually since 2004, had the concept this year of “Upvertising”, aiming to uplift creativity among people in the industry and generate communication that goes beyond the normal standards.

“We are expanding our FlyerBonus and Emirates Skywards programmes service networks and point reward and privilege systems to provide even more special experiences,” said Chulin Kocharoen of Bangkok Airways.

“Emirates Skywards is 25 million members strong and growing by the day,” said Nejib Ben Khedher of Skywards. “We have a diverse membership base drawn from 180 countries. Our alignment with FlyerBonus complements Emirates’ codeshare partnership with Bangkok Airways, helping our members enjoy rewards offered in both programmes.”

FlyerBonus members will be able to enjoy reward flights on Emirates’ network spanning 143 destinations, including 47 cities in Europe, 22 in the Americas, 15 in the Middle East and 27 in Africa.

Members of Emirates Skywards can explore the boutique destinations of Thailand by flying on codeshare flights operated by Bangkok Airways, and enjoy seamless connectivity to 33 destinations combined, beyond Bangkok and Phuket.

In addition to the domestic Thai routes, the partnership allows passengers to travel to Cambodia, Myanmar and Laos.

It said the ratings reflect the firm’s dominant position in the alcoholic-beverage market, extensive distribution network, steadily increasing cash generation and diversified sources of income.

“These strengths are partially offset by the surge in financial leverage in recent years, intense competition, regulatory constraints and frequent excise tax hikes in the industry,” TRIS said.

It expects ThaiBev’s domestic beverage business performance to continue improving. After a decline in domestic sales in 2018, it posted a quick recovery of 8.5 per cent year-on-year growth in the first nine months of fiscal 2019.

The growth was supported by the recovery of demand in both the alcoholic and non-alcoholic beverage segments. As a result, the company’s operating profit margin improved to 15.8 per cent in the first nine months of 2019, compared with 14.3 per cent in 2018.

TRIS believes domestic market demand will continue to grow in tandem with government spending to stimulate the economy, coupled with higher farm income. It expects ThaiBev’s domestic sales to increase by around 8 per cent in 2019 and 3 per cent in both 2020 and 2021.

It also projects ThaiBev’s operating profit margin to stay around 16 per cent over the next three years.

In the past few years, the company has made three key strategic investments – the acquisition of Grand Royal Group (GRG), the largest producer and distributor of spirits in Myanmar, Saigon Beer-Alcohol-Beverage Corporation (Sabeco), the largest beer producer in Vietnam, and KFC outlets in Thailand.

These acquisitions have added more than 30 per cent to its revenue base and earnings before interest, taxes, depreciation and amortisation. Its expansions in Vietnam and Myanmar have also helped significantly reduce its reliance on the domestic market.

Overseas revenue jumped to 28 per cent of sales in the first nine months of fiscal 2019, compared with a negligible 3 per cent in 2017.The markets in Myanmar and Vietnam are less mature and have better growth potential.

The company holds a strong position in every market where it’s active. In Thailand it is the largest beverage company, with a market share exceeding 90 per cent for spirits and nearly 40 per cent for beer, based on sales volume.

It is also the market leader in the ready-to-drink tea and drinking-water segments and is a major producer of carbonated drinks and other beverages.

Through its affiliated companies, ThaiBev extends its market coverage across Southeast Asia. Fraser and Neave Ltd has a strong position in its home markets of Malaysia and Singapore.

The rating agency expects ThaiBev’s leverage to gradually decline over the next three years. Its net debt reached a peak at Bt215.8 billion in fiscal 2018, then declined to Bt206.2 billion in the first nine months of fiscal 2019.

TRIS’ projection assumes no additional, large, debt-funded acquisitions over the next three years as the company’s management has expressed strong intention to deleverage.

The liquidity position is strong. As of June, ThaiBev had cash on hand of Bt24.1 billion. TRIS projects funds from operations to be around Bt33 billion in the next 12 months. The company has undrawn credit facilities of around Bt54 billion.

These sources of funds should be sufficient to cover the cash needed for debt service and investments over the next 12 months.

ThaiBev has long-term debt-repayment obligations of around Bt6 billion coming due during the next 12 months. As of June, its outstanding short-term obligations were Bt14 billion. The company has planned capital expenditures of approximately Bt7 billion in fiscal 2020.

It is among the findings of its survey seeking the opinions of managers hiring candidates for potential and the outcomes of this as a long-term strategy towards growth.

“Grow your Talent, Hire Based on Potential”, the latest Robert Walters guide released in October, includes insights from over 3,000 managers and professionals from Thailand and five other countries: Indonesia, Malaysia, Philippines, Singapore and Vietnam.

The guide reveals that in Southeast Asia, 94 per cent of hires based on potential were retained in their jobs.

Yet close to half (42 per cent) of hiring managers in the region remain reluctant to evolve their recruitment strategies beyond hiring based solely on experience. This was despite using resources to recruit, evaluate, and subsequently manage employees who are not a good fit.

The hesitancy to recruit on potential, despite growing importance of it, is reflected among Thailand’s respondents too. Yet, adopting this philosophy could be the key to future recruitment drives according to Srisakul Thunwuthikul, Manager of Sales & Marketing (Healthcare), Robert Walters Thailand.

“Talent has become an increasingly in-demand asset and valuable resource for companies on a worldwide, regional, and local levels. With Thailand being an evolving and strategically located hub within Asean, strategising on how to effectively compete to attract hires from available talent pools is essential and an intrinsic element in achieving a competitive edge with successful sustainability and growth. As the intensity in competing for talent continues, hiring for potential is gaining traction as a viable talent growth strategy in Southeast Asia as a whole.”

Experience over potential

In Thailand, over 60 per cent of respondents considered experience as one of their top three considerations when looking for a new hire, with over 46 per cent focused on the ability of candidates to learn quickly and over 33 per cent citing soft skills as another key factor.

However, while this suggests a willingness to value potential, over 44 per cent of respondents stated that they had rejected a candidate who showed a lot of potential but lack the right qualifications or experience.

Hesitance remains 

While close to 52 per cent of those surveyed did respond that they had hired someone who showed a lot of potential, but did not have the right qualifications or experience, over 48 per cent had not, with nearly 16 per cent of this group stating that they would not consider doing so either.

Traits of potential 

In Thailand, respondents identified individual traits that convinced them to hire based on potential. These comprised of: willingness to learn (74.23 per cent); motivation (64.95 per cent); engagement (34.02 per cent); creativity (28.87 per cent); insights (16.49 per cent); curiosity (13.40 per cent) and other reasons (4 per cent). In terms of these hires, 85 per cent were said to have become valuable team members, with 38 per cent of these viewed in such a way after time was taken to train them.

Recruitment delays

Hires that only fixate on experience may lead to costly delays in filling positions, among other issues. In Thailand, under 5 per cent of positions within the survey had had an offer accepted in less than one month and while nearly 40 per cent reported a hire window of one to two months, over 49 per cent of positions were reported to have taken between two to six months, and over 6 per cent over half a year. Widening the scope of the recruitment process to include candidates with potential could close these gaps.

Out of the successful recruits deemed not to have turned out to be a good fit once hired for a role, the majority (close to 29%), were recorded as not delivering as expected. Over 19 per cent were regarded as not having the right learning attitude, not having the right skills, knowledge or expertise.

Potential not favoured

The “Grow your Talent, Hire Based on Potential” guide cited a preference, across the region, for candidates who can pick up work immediately, the technical nature of the role, and the lack of know-how to evaluate the person’s potential as key reasons for not hiring high-potential professionals. One in three, (30 per cent) of respondents believe that a candidate with the right qualifications and experience will eventually show up.

In Thailand, the top reasons for respondents not considering hiring based on potential also include a preference for someone who can pick up the work immediately (44.83 per cent); as well as the role being very technical and requiring significant prior experience and skill sets (44.83 per cent); the company not having the time, resources and expertise to offer in-depth training (41.38 per cent); difficulty in identifying whether a person would be a good fit for their team (37.93 per cent); taking more time and work to train someone (37.93 per cent); believing that someone with the right qualifications and experience will show up (24.14 per cent); finding it difficult to assess the potential of an individual (17.24 per cent); and concern that the candidate would not be able to learn quickly enough (13.79 per cent).

Nurturing niche skill sets

The guide suggests ideas for companies wishing to adapt their recruitment strategies based on potential. This includes identifying crucial or secondary requirements to the role, ensuring a realistic job description, looking out for signs of opportunities or progress in the candidate’s job experience, and engaging the expertise of recruitment consultants, especially in hiring talent with niche skill sets.

In a separate interview with The Nation online newspaper, Srisakul cited successful stories with her company sourcing candidates based on potential for her clients. They were accepted and have since stayed with their employers, she added.

“Given that these group of people are receptive, eager to learn, have the drive and motivation, they feel challenged to do things they have not done before and have the eagerness to close the gap and be successful in what they are asked to do,”

“Also, growth is in the mindset of potential candidates; they want to do new things and continue learning. They want to be trained and invested upon; and when they realise the investment that is being made on them, they tend to invest more in their work, proving to the company they are capable for the role,”

“Loyalty and new ideas come with potential candidates; they want on stay with the firm to keep learning about the business and since they are considered unique assets to the company, they are able to inject new ideas to the team”.

“On the other hand, hiring based on experience gives the company what they are expecting right away as these group of people are experienced in what they are doing and will do it well. However, companies will need to find ways to keep them motivated and loyal to the company because when there is no more excitement in work, they may reconsider their roles”.

It will allocate 150 million shares to an initial public offering to raise funds to buy more land and expand its business, with S14 Advisory Company Limited as financial advisor.

It currently has seven projects underway, together worth Bt3.9 billion, and plans two more worth Bt2.17 billion.

Chief executive Praweerat Dheva-aksorn said the company adheres to “four pillars” – potential location (Comfortable), beautiful houses in a warm community (Appearance), professional teamwork (Reliability), and reasonable price (Economy).

The seven current housing projects are under the main brands Kunalai Begins, Kunalai Pollen, Kunalai Symphony and Kunalai Joy.

Its subsidiary Villa Vanich Company Limited focuses on Greater Bangkok, especially Bang Bua Thong district in neighbouring Nonthaburi province.

Nonthaburi is Kun’s strategic location for housing, and the company has just initiated expansion in Chachoengsao under the Kunalai Joy, involving 314 projects on 24 rai. The province boasts economic strength and strong housing demand similar to those of Bang Bua Thong.

Chachoengsao is also part of the Eastern Economic Corridor slated for a substantial boost in economic activity.

Kun has finalised sales on four projects valued Bt1.32 billion and has seven ongoing projects worth Bt3.9 billion.

There are two new projects worth Bt2.17 billion for future development, including Kunalai Joy 2, the Bt1.5-billion duplex and single-house project in Nonthaburi, which is expected to kick off sales in the second quarter of 2020.

The other one is Villa Vanich, the Bt672-million shophouse project in Bang Bua Thong, which will start construction and launch sales around 2021-2022.

Praweerat said earnings from the initial public offerings would fund business expansion, including the purchase of more land in Bang Bua Thong and act as a reserve for future projects in all four suburban areas of Bangkok.

The IPO will feature 150 million shares with par value of 0.5 baht each, equivalent to 25 per cent of the total issued and paid-up shares after the IPO.

Kun currently has registered capital of Bt300 million – 600 million ordinary shares (450 million existing paid-up shares and 150 million IPO shares) – and paid-up capital of Bt225 million.

The Securities and Exchange Commission has accepted the filing and Kun expects to be able to list and start trading on the MAI around the end of this year.

Piyapa Jongsathian, managing director of S14 Advisory, said Villa Kunalai is the leader and expert in horizontal housing project in Bang Bua Thong.

The company posted total revenue of Bt297.5 million in 2016, Bt450.38 million in 2017 and Bt447.09 million in 2018, while net profit was Bt5.94 million, Bt10.80 million and Bt11.56 million, respectively.

For the first nine months of 2019, revenue was Bt461.09 million and net profit Bt43.15 million. The growth of revenue came from increased property sales after projects were gradually closed.